<SUBMISSION>
<ACCESSION-NUMBER>0001047469-05-008043
<TYPE>DEF 14A
<PUBLIC-DOCUMENT-COUNT>4
<PERIOD>20050426
<FILING-DATE>20050329
<DATE-OF-FILING-DATE-CHANGE>20050329
<EFFECTIVENESS-DATE>20050329
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>OVERSTOCK COM INC
<CIK>0001130713
<ASSIGNED-SIC>7389
<IRS-NUMBER>870634302
<STATE-OF-INCORPORATION>UT
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>DEF 14A
<ACT>34
<FILE-NUMBER>000-49799
<FILM-NUMBER>05708074
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>6322 SOUTH 3000 EAST
<STREET2>STE 100
<CITY>SALT LAKE CITY
<STATE>UT
<ZIP>84121
<PHONE>8019473100
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>6322 SOUTH 3000 EAST
<STREET2>STE 100
<CITY>SALT LAKE CITY
<STATE>UT
<ZIP>84121
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>a2154479zdef14a.htm
<DESCRIPTION>DEF 14A
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<P><FONT SIZE=3 >
Use these links to rapidly review the document<BR>
<A HREF="#bg1552_table_of_contents">  TABLE OF CONTENTS</A><BR></font>
</P>
<P ALIGN="CENTER"><FONT SIZE=2><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=4><B> SCHEDULE 14A</B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>Proxy
Statement Pursuant to Section 14(a) of<BR>
the Securities Exchange Act of 1934 (Amendment No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;) </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="73%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=3><FONT SIZE=2>Filed by the Registrant <FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3><BR><FONT SIZE=2>Filed by a Party other than the Registrant <FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=3><FONT SIZE=2><BR>
Check the appropriate box:</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2><BR>
<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="95%"><FONT SIZE=2><BR>
Preliminary Proxy Statement</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2><BR>
<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="95%"><BR><FONT SIZE=2><B>Confidential, for Use of the Commission Only (as permitted by Rule 14a-(e)(2))</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2><BR>
<FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="95%"><FONT SIZE=2><BR>
Definitive Proxy Statement</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2><BR>
<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="95%"><FONT SIZE=2><BR>
Definitive Additional Materials</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2><BR>
<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="95%"><FONT SIZE=2><BR>
Soliciting Material Pursuant to &sect;&sect;.&nbsp;240.14a-11(c) or &sect;&sect;.&nbsp;240.14a-12<BR></FONT>
</TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="77%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=5 ALIGN="CENTER"><BR><FONT SIZE=2><B>Overstock.com, Inc.</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 ALIGN="CENTER"><HR NOSHADE><FONT SIZE=2> (Name of Registrant as Specified In Its Charter)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 ALIGN="CENTER"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5 ALIGN="CENTER"><HR NOSHADE><FONT SIZE=2> (Name of Person(s) Filing Proxy Statement, if other than the Registrant)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=5><FONT SIZE=2>Payment of Filing Fee (Check the appropriate box):</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2><BR>
<FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><BR>
No fee required.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2><BR>
<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><BR>
Fee computed on table below per Exchange Act Rules 14A-6(i)(1) and&nbsp;0-11.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>(1)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Title of each class of securities to which transaction applies:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>(2)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Aggregate number of securities to which transaction applies:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>(3)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>(4)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Proposed maximum aggregate value of transaction:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>(5)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Total fee paid:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2><BR>
<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><BR>
Fee paid previously with preliminary materials.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2><BR>
<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><BR>
Check box if any part of the fee is offset as provided by Exchange Act Rule&nbsp;0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or
Schedule and the date of its filing.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
(1)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2><BR>
Amount Previously Paid:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>(2)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Form, Schedule or Registration Statement No.:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>(3)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Filing Party:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>(4)</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="89%"><FONT SIZE=2>Date Filed:<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="89%"><BR><FONT SIZE=2><B>Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.</B></FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=1,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=804432,FOLIO='blank',FILE='DISK015:[05DEN2.05DEN1552]BA1552A.;3',USER='DTAYLOR',CD='28-MAR-2005;08:33' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<P ALIGN="CENTER"><FONT SIZE=2><B>
<IMG SRC="g574437.jpg" ALT="Logo" WIDTH="316" HEIGHT="70">
  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>6322 South 3000 East, Suite 100<BR>
Salt Lake City, Utah 84121  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=3><B>NOTICE OF ANNUAL MEETING OF STOCKHOLDERS<BR>
To Be Held at 1:00&nbsp;p.m. on April&nbsp;26, 2005  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">

<P><FONT SIZE=2>Dear Fellow Stockholders: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
cordially invite you to attend the 2005 Annual Meeting of Stockholders of Overstock.com,&nbsp;Inc. (the "Company"). The meeting will be held at 1:00&nbsp;p.m. on Tuesday,
April&nbsp;26, 2005, at the Company's warehouse located at 955 South 3800 West, Salt Lake City, Utah 84104, for the following purposes: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD><FONT SIZE=2>To
elect one Class&nbsp;III director of Overstock.com,&nbsp;Inc., to serve a term of three (3)&nbsp;years and hold office until her successor has been elected and qualified or
until her earlier resignation or removal. A majority of the independent members of the Board of Directors has recommended, and the Company's Board of Directors intends to present, Allison H. Abraham
for re-election to the Board.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD><FONT SIZE=2>To
approve the Company's 2005 Equity Incentive Plan, including approval of its material terms and performance goals for purposes of Internal Revenue Code Section&nbsp;162(m);
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>3.</FONT></DT><DD><FONT SIZE=2>To
ratify the Audit Committee's selection of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for the fiscal year ending December&nbsp;31,
2005; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>4.</FONT></DT><DD><FONT SIZE=2>To
transact any other business properly coming before the Annual Meeting or any adjournments or postponements thereof. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These
proposals are discussed in more detail in the attached Proxy Statement. Please read the attached Proxy Statement carefully. Only stockholders who owned shares at the close of
business on March&nbsp;10, 2005 are entitled to attend and vote at the meeting or any adjournment of the meeting. A complete list of the stockholders of record of the Company on March&nbsp;10,
2005 will be available at the Company's principal executive offices at 6322 South 3000 East, Suite 100, Salt Lake City, Utah for at least ten days prior to the meeting. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following
the meeting, we will report on our performance in 2004 and answer your questions. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="39%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>By Order of the Board of Directors,</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="39%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=2><BR><FONT SIZE=2><B>
<IMG SRC="g431731.jpg" ALT="Signature" WIDTH="315" HEIGHT="85">
 </B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="39%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>Jonathan E. Johnson III<BR>
Secretary<BR></FONT>
</TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P><FONT SIZE=2>Salt
Lake City, Utah<BR>
March&nbsp;25, 2005 </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Whether or not you plan to attend the meeting, please complete, sign, date and return the accompanying Proxy Card in the enclosed self-addressed, stamped envelope.  </B></FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=2,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=453083,FOLIO='blank',FILE='DISK015:[05DEN2.05DEN1552]BE1552A.;5',USER='DTAYLOR',CD='28-MAR-2005;08:33' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="bg1552_table_of_contents"> </A>
<BR></FONT><FONT SIZE=2><B>TABLE OF CONTENTS    <BR>    </B></FONT></P>

<P><FONT SIZE=2>
<A NAME="BG1552_TOC"></A> </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="72%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=3 ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3><FONT SIZE=2><BR>
Notice of Annual Meeting</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3><A HREF="#da1552_proxy_statement"><FONT SIZE=2><BR>
Proxy Statement</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#da1552_questions_and_answers"><BR><FONT SIZE=2> Questions and Answers</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#page_dc1552_1_6"><BR><FONT SIZE=2> Proposals to be Voted On</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#dc1552_election_of_directors"><BR><FONT SIZE=2> Election of Directors</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#dc1552_approval_of_2005_equity_incentive_plan"><BR><FONT SIZE=2> Approval of 2005 Equity Incentive Plan</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#dc1552_ratification_of_selection_of_i__rat02991"><BR><FONT SIZE=2> Ratification of Selection of Independent Registered Public Accounting Firm</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#de1552_other_business"><BR><FONT SIZE=2> Other Business</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#de1552_the_board"><BR><FONT SIZE=2> The Board</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#de1552_general"><BR><FONT SIZE=2> General</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#de1552_board_and_committee_meetings"><BR><FONT SIZE=2> Board and Committee Meetings</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#de1552_board_independence"><BR><FONT SIZE=2> Board Independence</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#de1552_committees_of_the_board"><BR><FONT SIZE=2> Committees of the Board</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#de1552_director_qualifications"><BR><FONT SIZE=2> Director Qualifications</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#de1552_identification_and_eval__de102237"><BR><FONT SIZE=2> Identification and Evaluation of Nominees for Director</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#de1552_communications_with_the_board"><BR><FONT SIZE=2> Communications with the Board</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#de1552_annual_meeting_attendance"><BR><FONT SIZE=2> Annual Meeting Attendance</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#de1552_code_of_ethics"><BR><FONT SIZE=2> Code of Ethics</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#dg1552_information_regarding_d__dg102420"><BR><FONT SIZE=2> Information Regarding Director Nominees and other Directors</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#dg1552_compensation_committee___dg102493"><BR><FONT SIZE=2> Compensation Committee Interlocks and Insider Participation</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#dg1552_compensation_of_directors"><BR><FONT SIZE=2> Compensation of Directors</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#dg1552_report_of_the_compensation_com__rep02595"><BR><FONT SIZE=2> Report of the Compensation Committee on Executive Compensation</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#dg1552_executive_officers"><BR><FONT SIZE=2> Executive Officers</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#di1552_executive_compensation"><BR><FONT SIZE=2> Executive Compensation</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#di1552_option_grants"><BR><FONT SIZE=2> Option Grants</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#di1552_aggregated_option_exercises_in__agg02192"><BR><FONT SIZE=2> Aggregated Option Exercises in 2004 and Fiscal Year-End Values</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#di1552_equity_compensation_plan_information"><BR><FONT SIZE=2> Equity Compensation Plan Information</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#di1552_severance_and_change_of_control_arrangements"><BR><FONT SIZE=2> Severance and Change of Control Arrangements</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#di1552_report_of_the_audit_committee"><BR><FONT SIZE=2> Report of the Audit Committee</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#di1552_share_ownership_of_mana__di102378"><BR><FONT SIZE=2> Share Ownership of Management, Directors and 5% Stockholders</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#dk1552_stock_performance_graph"><BR><FONT SIZE=2> Stock Performance Graph</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD COLSPAN=2><A HREF="#dm1552_other_information"><BR><FONT SIZE=2> Other Information</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#dm1552_certain_relationships_and_related_transactions"><BR><FONT SIZE=2> Certain Relationships and Related Transactions</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#dm1552_section_16(a)_beneficia__dm102046"><BR><FONT SIZE=2> Section 16(a) Beneficial Ownership Reporting Compliance</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#dm1552_deadline_for_receipt_of_stockholder_proposals"><BR><FONT SIZE=2> Deadline for Receipt of Stockholder Proposals</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="95%"><A HREF="#dm1552_costs_of_proxy_solicitation"><BR><FONT SIZE=2> Costs of Proxy Solicitation</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3><A HREF="#do1552_appendix_a_charter_for_the_aud__app02716"><FONT SIZE=2><BR>
Appendix A&#151;Charter for the Audit Committee</FONT></A></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3><A HREF="#dq1552_appendix_b_overstock.co__dq101998"><FONT SIZE=2><BR>
Appendix B&#151;2005 Equity Incentive Plan</FONT></A></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=3,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=943957,FOLIO='blank',FILE='DISK015:[05DEN2.05DEN1552]BG1552A.;7',USER='DTAYLOR',CD='28-MAR-2005;09:09' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=3><B>OVERSTOCK.COM,&nbsp;INC.<BR>  </B></FONT><FONT SIZE=2><B>6322 South 3000 East, Suite 100<BR>
Salt Lake City, Utah 84121  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<A NAME="da1552_proxy_statement"> </A>
<A NAME="toc_da1552_1"> </A>
<P ALIGN="CENTER"><FONT SIZE=3><B>PROXY STATEMENT  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Board of Directors is soliciting proxies for the 2005 Annual Meeting of Stockholders to be held at 1:00&nbsp;p.m. on April&nbsp;26, 2005
at the Company's warehouse located at 955 South 3800 West, Salt Lake City, Utah 84104. This Proxy Statement contains important information for you to consider when deciding how to vote on the matters
before the meeting. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board set March&nbsp;10, 2005 as the record date for the meeting. Stockholders who owned Overstock common stock on that date are entitled to attend and vote at the meeting. Each
share is entitled to one vote. There were 19,883,860 shares of common stock outstanding on the record date. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Voting
materials, which include this Proxy Statement, the proxy card and Overstock's Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2004, are being
mailed to stockholders on or about March&nbsp;29, 2005. </FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=4,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=215748,FOLIO='blank',FILE='DISK015:[05DEN2.05DEN1552]DA1552A.;14',USER='MBRADT',CD='28-MAR-2005;12:21' -->
<A NAME="page_da1552_1_2"> </A>
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="da1552_questions_and_answers"> </A>
<A NAME="toc_da1552_2"> </A>
<BR></FONT><FONT SIZE=2><B>QUESTIONS AND ANSWERS    <BR>    </B></FONT></P>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Why am I receiving this Proxy Statement?  </B></FONT></P>


<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>This Proxy Statement describes proposals on which we would like you, as a stockholder, to vote. It also gives you information on these
issues so that you can make an informed decision. </FONT></P>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Who can vote at the Annual Stockholders Meeting?  </B></FONT></P>

<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>Stockholders who owned Overstock common stock on March&nbsp;10, 2005 may attend and vote at the Annual Meeting. Each share is entitled
to one vote. There were 19,883,860 shares of common stock outstanding on March&nbsp;10, 2005. Information about the stockholdings of our directors and executive officers is contained in the section
entitled "Share Ownership of Management, Directors and 5% Stockholders" beginning on page 29 of this Proxy Statement. </FONT></P>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;What is the proxy card?  </B></FONT></P>

<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>The proxy card enables you to appoint Patrick M. Byrne and Jonathan E. Johnson III as your representatives at the Annual Meeting. By
completing and returning the proxy card you are authorizing Messrs.&nbsp;Byrne and Johnson to vote your shares at the meeting, as you have instructed them on the proxy card. This way, your shares
will be voted whether or not you attend the meeting. Even if you plan to attend the meeting, it is a good idea to complete and return your proxy card before the meeting date just in case your plans
change. </FONT></P>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;What am I voting on?  </B></FONT></P>

<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>You are being asked to vote on: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
election of one director,
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>approval
of the Company's 2005 Equity Incentive Plan; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>ratification
of our Audit Committee's selection of PricewaterhouseCoopers LLP as our independent registered public accounting firm. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>The
section entitled "Proposals to be Voted On" on page 6 of this Proxy Statement gives you more information about the nominee for election to our Board, the proposed 2005 Equity Incentive Plan, and
the Company's independent registered public accounting firm. You may also find more information on the nominee in the section entitled "The Board&#151;Information Regarding Director Nominee and
Other Directors" beginning on page 21 of this Proxy Statement. We will also transact any other business that properly comes before the meeting. </FONT></P>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;How do I vote?  </B></FONT></P>

<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>You may vote either by attending the meeting and voting in person, or you may vote by mail by completing, signing and dating your proxy
card and returning it in the enclosed, postage-paid and addressed envelope. If you mark your voting instructions on the proxy card, your shares will be voted: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>as
you instruct, and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>according
to the best judgment of Messrs.&nbsp;Byrne and Johnson if a proposal comes up for vote at the meeting that is not on the proxy card. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>If
you return a signed card but do not provide voting instructions, your shares will be voted: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>for
the named nominee for director,
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>for
approval of the Company's 2005 Equity Incentive Plan,
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>for
ratification of the Audit Committee's selection of PricewaterhouseCoopers LLP as our independent registered public accounting firm, and </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=5,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=965643,FOLIO='2',FILE='DISK015:[05DEN2.05DEN1552]DA1552A.;14',USER='MBRADT',CD='28-MAR-2005;12:21' -->
<A NAME="page_da1552_1_3"> </A>
<UL>
<UL>
</UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>according
to the best judgment of Messrs.&nbsp;Byrne and Johnson if a proposal comes up for a vote at the meeting that is not on the proxy card. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>We
will hand out written ballots to anyone who wants to vote at the meeting. However, if you hold your shares in street name, you must obtain a legal proxy from your stockbroker in order to vote at
the meeting. Holding shares in "street name" means you hold them through a brokerage firm, bank or other nominee, and therefore the shares are not held in your individual name. </FONT></P>

<P><FONT SIZE=2><I>We encourage you to examine your proxy card closely to make sure you are voting all of your shares in the Company.</I></FONT></P>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;What does it mean if I receive more than one proxy card?  </B></FONT></P>


<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>It means that you may have multiple accounts at the transfer agent and/or with stockbrokers. Please sign and return all proxy cards to
ensure that all of your shares are voted. </FONT></P>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;What if I change my mind after I return my proxy?  </B></FONT></P>

<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>You may revoke your proxy and change your vote at any time before the polls close at the meeting. You may do this by: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>sending
a written notice to the Secretary of the Company (at the address shown on the cover page) stating that you are revoking your proxy of a particular date,
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>signing
another proxy with a later date and returning it before the polls close at the meeting, or
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>attending
the Annual Meeting and voting in person. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Will my shares be voted if I do not sign and return my proxy card?  </B></FONT></P>


<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>(1)&nbsp;If your shares are held in street name, your brokerage firm, under certain circumstances, may vote your shares. Brokerage
firms have authority under the NASDAQ rules to vote customers' unvoted shares on some "routine" matters. The proposals to elect directors and ratify the appointment of the independent registered
public accounting firm are routine matters. The proposal to approve the 2005 Equity Incentive Plan is not a routine matter. If you do not give a proxy to vote your shares, your brokerage firm may
either: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>vote
your shares on routine matters, or
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>leave
your shares unvoted. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>If
a brokerage firm entitled to vote your shares leaves those shares unvoted, it is called a "broker nonvote." A brokerage firm cannot vote customers' shares on non-routine matters without
instructions from you. </FONT></P>

<P><FONT SIZE=2>You
may have granted to your stockbroker discretionary voting authority over your account. Your stockbroker may be able to vote your shares depending on the terms of the agreement you have with your
broker. If you hold your shares in street name and you do not authorize your broker to vote on your behalf, you must obtain a legal proxy from your stockbroker in order to vote at the meeting. We
encourage you to provide instructions to your broker. This ensures your shares will be voted at the meeting. </FONT></P>

<P><FONT SIZE=2>(2)&nbsp;&nbsp;&nbsp;&nbsp;If
your shares are in your name and you do not sign and return your proxy card, your shares will not be voted unless you vote in person at the meeting. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>3</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=6,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=239274,FOLIO='3',FILE='DISK015:[05DEN2.05DEN1552]DA1552A.;14',USER='MBRADT',CD='28-MAR-2005;12:21' -->
<A NAME="page_da1552_1_4"> </A>
<BR>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;How are votes counted?  </B></FONT></P>

<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>You may vote: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>with
respect to the nominee for election to the Board, either "for" the nominee or to "withhold" your vote from the nominee,
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>"for,"
"against," or "abstain" on the proposal to approve the 2005 Equity Incentive Plan, and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>"for,"
"against," or "abstain" on the ratification of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;How many stockholders are needed either in person or by proxy to hold the meeting?  </B></FONT></P>

<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>To hold the meeting and conduct business, a majority of the Company's outstanding shares entitled to vote as of March&nbsp;10, 2005
must be present at the meeting. This is called a quorum. </FONT></P>


<P><FONT SIZE=2>Shares
are counted as present at the meeting if the stockholder either: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>is
present in person at the meeting, or
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>has
properly submitted a proxy card. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>On
proposals for routine matters, a broker nonvote is counted for determining the presence of a quorum. </FONT></P>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;How many votes must the nominee have to be elected as a director?  </B></FONT></P>


<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>The nominee receiving the highest number of "yes" votes will be elected as a director. This number is called a plurality. </FONT></P>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;What happens if a nominee is unable to stand for re-election?  </B></FONT></P>

<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>A majority of the independent members of the Board may designate a substitute nominee. If you have completed and returned your proxy,
Messrs.&nbsp;Byrne and Johnson can vote your shares for a substitute nominee. They cannot vote for more than one nominee. </FONT></P>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;How many votes are required to approve the 2005 Equity Incentive Plan?  </B></FONT></P>

<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>A majority of the shares present, in person or by proxy, voting in favor is required to approve the 2005 Equity Incentive Plan. Brokers
do not have discretion to vote on this proposal without your instruction. </FONT></P>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;How many votes are required to ratify the appointment of PricewaterhouseCoopers LLP?  </B></FONT></P>


<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>A majority of the shares present, in person or by proxy, including broker nonvotes, voting in favor is required to ratify the
appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm. </FONT></P>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;How many votes are required to approve other matters that may come before the stockholders at the meeting?  </B></FONT></P>

<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>A majority of the shares present, in person or by proxy, excluding broker nonvotes, at the meeting voting in favor is required to
approve other matters that may come before the stockholders at the meeting. </FONT></P>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;What happens if I don't indicate how to vote my proxy?  </B></FONT></P>

<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>If you just sign your proxy card without providing further instructions, your shares will be counted as a "yes" vote for the director
nominee, a "yes" vote for the proposal to approve the 2005 Equity Incentive Plan, and "for" ratification of the selection of PricewaterhouseCoopers LLP. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>4</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=7,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=540888,FOLIO='4',FILE='DISK015:[05DEN2.05DEN1552]DA1552A.;14',USER='MBRADT',CD='28-MAR-2005;12:21' -->
<A NAME="page_da1552_1_5"> </A>
<BR>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Is my vote kept confidential?  </B></FONT></P>

<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>Proxies, ballots and voting tabulations identifying stockholders are kept confidential and will not be disclosed except as may be
necessary to meet legal requirements. </FONT></P>

<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Where do I find the voting results of the meeting?  </B></FONT></P>


<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>We will announce preliminary voting results at the meeting. We will publish the final results in our quarterly report on
Form&nbsp;10-Q for the second quarter of 2005 on or before August&nbsp;9, 2005. We will file that report with the SEC, and you can get a copy by calling Investor Relations at
(801)&nbsp;947-3132 or the SEC at (800)&nbsp;SEC-0330 for the location of the nearest public reference room, or through the EDGAR system at </FONT> <FONT SIZE=2><I>www.sec.gov</I></FONT><FONT SIZE=2>. You can also get a copy from our website at
</FONT><FONT SIZE=2><I>www.overstock.com.</I></FONT></P>


<P><FONT SIZE=2><B>Q:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Who can help answer my questions?  </B></FONT></P>

<P><FONT SIZE=2><B>A:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2>You can call Georgeson Shareholder Communications, our proxy solicitor, toll-free at (800)&nbsp;314-4549 with
any questions about the proposals described in this Proxy Statement or the mechanics of voting. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>5</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=8,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=806046,FOLIO='5',FILE='DISK015:[05DEN2.05DEN1552]DA1552A.;14',USER='MBRADT',CD='28-MAR-2005;12:21' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P><FONT SIZE=2><A
NAME="page_dc1552_1_6"> </A> </FONT></P>

<!-- TOC_END -->

<P><FONT SIZE=2><B>PROPOSALS TO BE VOTED ON:  </B></FONT></P>

<A NAME="dc1552_election_of_directors"> </A>
<A NAME="toc_dc1552_1"> </A>

<P><FONT SIZE=2><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ELECTION OF DIRECTORS  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The nominee for re-election this year as a Class&nbsp;III director, for a three-year term ending in 2008, is Allison&nbsp;H. Abraham.
Ms.&nbsp;Abraham has been a director of the Company since 2002 and has consented to serve a new three-year term. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
information about Ms.&nbsp;Abraham, see "The Board&#151;Information Regarding Director Nominee and Other Directors" beginning on page&nbsp;21. </FONT></P>


<P><FONT SIZE=2><B>Recommendation of the Board of Directors  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors unanimously recommends a vote "for" Ms.&nbsp;Abraham. </FONT></P>

<P><FONT SIZE=2><B>Vote Required  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A director will be elected by a plurality of the votes of the shares of common stock present in person or represented by proxy at the meeting. Votes withheld are
counted for purposes of determining the presence or absence of a quorum for the transaction of business, but otherwise they have no legal effect under Delaware law. </FONT></P>

<A NAME="dc1552_approval_of_2005_equity_incentive_plan"> </A>
<A NAME="toc_dc1552_2"> </A>

<P><FONT SIZE=2><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;APPROVAL OF THE 2005 EQUITY INCENTIVE PLAN.  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors is asking our stockholders to approve our 2005 Equity Incentive Plan (the "2005 Plan"), which will enable the Board to grant restricted
stock, stock appreciation rights, performance shares, performance units and deferred stock units as well as incentive and nonstatutory stock options, and to approve the transfer to the 2005 Plan of
all shares remaining available for grant under our 2002 Stock Option Plan and any prior option plans (as well as any shares subsequently becoming available for grant under any such plan). If the 2005
Plan is approved by the stockholders, no further grants would be made under the 2002 Stock Option Plan or prior plans. If the 2005 Plan is approved by the stockholders, the number of shares of common
stock that would then be available for grant thereunder would be 1,184,158, less shares covered by any grants made under the 2002 Stock Option Plan after December&nbsp;31, 2004, plus any shares
returned to the 2002 Stock Option Plan (or prior plans) after December&nbsp;31, 2004. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
stockholders are also being asked to approve the material terms of the 2005 Plan and the performance goals thereunder for the purpose of helping awards under the 2005 Plan qualify as
"performance-based" compensation under Internal Revenue Code Section&nbsp;162(m). </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of December&nbsp;31, 2004, 19,815,486 shares of common stock were outstanding, options to purchase 3,001,004 shares had been granted under the 2002 Stock Option Plan and prior
plans, and options to purchase 1,511,909 shares of common stock were outstanding under the 2002 Stock Option Plan and prior plans described below. During 2004 we granted options under the 2002 Stock
Option Plan to purchase a total of 473,574 shares, including options to purchase 65,000 shares granted to current executive officers of the Company. At December&nbsp;31, 2004, 1,184,158 shares of
common stock remained available for future option grants. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
2002 Stock Option Plan replaced the Company's Amended and Restated 1999 Stock Option Plan (the "1999 Plan"), which was terminated as to new grants on May&nbsp;29, 2002. All options
outstanding under the 1999 Plan on May&nbsp;29, 2002 remained outstanding under the 1999 Plan, and any shares available for grant under the 1999 Plan became available for grant under the 2002 Stock
Option Plan. At December&nbsp;31, 2004, options to purchase an additional 1,548 shares of common stock remained outstanding under the Gear.com,&nbsp;Inc. Restated 1998 Stock Option Plan, which
terminated as to new grants upon our acquisition of Gear.com,&nbsp;Inc. on November&nbsp;20, 2000. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>6</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=9,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=8821,FOLIO='6',FILE='DISK015:[05DEN2.05DEN1552]DC1552A.;22',USER='MBRADT',CD='28-MAR-2005;14:21' -->
<A NAME="page_dc1552_1_7"> </A>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New
accounting regulations are expected to require companies to record a charge to earnings for employee stock option grants, including options granted under plans similar to the
proposed 2005 Plan. The extent to which we will make grants of awards under the 2005 Plan will depend on the developments in these accounting regulations as well as other factors, including our
assessment of the efficacy of various types of awards in attracting, retaining and motivating key employees. The 2005 Plan will allow us to grant a wider range of awards than is permitted under our
current stock option plans, including restricted stock, stock appreciation rights, performance shares, performance units and deferred stock units. We believe that the 2005 Plan will be an important
element of our compensation package. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
2005 Plan has been developed to replace our 2002 Stock Option Plan, which would otherwise terminate no later than 2014. Currently, our 2002 Stock Option Plan authorizes the Board of
Directors to grant incentive stock options to our employees, and non-statutory stock options and stock purchase rights to our employees, directors and consultants. Our Board of Directors
approved the 2005 Plan on March&nbsp;11, 2005, subject to stockholder approval at the 2005 annual meeting. The 2002 Plan and prior plans will remain in effect with respect to options outstanding
under such plans. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to approving the 2005 Plan, we are proposing for stockholder approval the transfer to the 2005 Plan all of the shares remaining available for grant under the 2002 Stock
Option Plan or prior plans or otherwise becoming available for grant under any such plan. If the 2005 Plan is approved by the stockholders, the number of shares of common stock that would then be
available for grant thereunder would be 1,184,158, less shares covered by any grants made under the 2002 Stock Option Plan after December&nbsp;31, 2004, plus any shares returned to the 2002 Stock
Option Plan (or prior plans) after December&nbsp;31, 2004. The proposed 2005 Plan does not increase the number of shares available for grant. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of March&nbsp;24, 2005, the closing price of our common stock was $43.64 per share. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
2005 Plan provides for the grant of options to purchase shares of our common stock, stock appreciation rights ("SARs"), restricted stock, performance shares, performance units, and
deferred stock units to employees and consultants of the Company. As of December&nbsp;31, 2004, there were approximately 430 employees (including officers and directors) who would be eligible to
participate in the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please
see the summary of the Plan below. </FONT></P>

<P><FONT SIZE=2><B>Vote Required and Recommendation  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If a quorum is present, the affirmative vote of a majority of the shares present, entitled to vote and cast at the Annual Meeting will be required to approve the
adoption of the 2005 Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brokers
do not have discretion to vote on this proposal without your instruction. If you do not instruct your broker how to vote on this proposal, your broker will deliver a
non-vote on this proposal. Broker non-votes, if any, will have no effect on the outcome of the vote on this proposal. Abstentions will have the effect of a vote "against" the
proposal. If our stockholders do not approve the 2005 Plan, we will continue to make grants under the 2002 Stock Option Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
executive officers and non-employee directors have an interest in this proposal, as they may receive awards under the 2005 Plan. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors recommends a vote "FOR" Proposal 2, the approval of our 2005 Equity Incentive Plan and the transfer of all shares remaining available for grant (or to become
available for grant) under our 2002 Stock Option Plan and all prior stock option plans, and to approve the material terms of the 2005 Plan and the performance goals thereunder for purposes of
Section&nbsp;162(m) of the </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>7</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=10,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=638032,FOLIO='7',FILE='DISK015:[05DEN2.05DEN1552]DC1552A.;22',USER='MBRADT',CD='28-MAR-2005;14:21' -->
<A NAME="page_dc1552_1_8"> </A>
<BR>

<P><FONT SIZE=2>Internal
Revenue Code. Proxies solicited by the Board will be so voted unless stockholders instruct otherwise in their proxies. </FONT></P>


<P><FONT SIZE=2><B>Summary of the Plan  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The principal features of the 2005 Plan are summarized below. This summary does not purport to be complete and is subject to, and qualified in its entirety by,
the provisions of the 2005 Plan, which is attached as Appendix&nbsp;B. Capitalized terms used herein and not defined shall have the meanings set forth in the 2005 Plan. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purpose.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The purposes of the 2005 Plan are to attract and retain the best available personnel, to provide additional
incentive to our employees, consultants and non-employee directors, and to promote the success of our business. </FONT></P>


<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Administration.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The 2005 Plan may be administered by our Board of Directors or a committee, which our Board of Directors may
appoint from among its members (the "Administrator"). Subject to the provisions of the 2005 Plan, the Administrator has the authority to: (i)&nbsp;interpret the 2005 Plan and apply its provisions;
(ii)&nbsp;prescribe, amend or rescind rules and regulations relating to the 2005 Plan; (iii)&nbsp;select the persons to whom awards are to be granted; (iv)&nbsp;subject to individual fiscal year
limits applicable to each type of award, determine the number of shares or equivalent units to be made subject to each award; (v)&nbsp;determine whether and to what extent awards are to be granted;
(vi)&nbsp;determine the terms and conditions applicable to awards generally and of each individual award (including the provisions of the award agreement to be entered into between the Company and
the participant); (vii)&nbsp;amend any outstanding award subject to applicable legal restrictions; (viii)&nbsp;authorize any person to execute, on our behalf, any instrument required to effect the
grant of an award; (ix)&nbsp;approve forms of agreement for use under the 2005 Plan; (x)&nbsp;allow participants to satisfy withholding tax obligations by electing to have the Company withhold
from the shares or cash to be issued that number of shares or cash having a fair market value equal to the minimum amount required to be withheld; (xi)&nbsp;reduce the exercise price of an award to
the then current fair market value if the fair market value of the common stock covered by the award has declined since the date the award was granted; (xii)&nbsp;institute an award exchange
program; and (xiii)&nbsp;subject to certain limitations, take any other actions deemed necessary or advisable for the administration of the 2005 Plan. All decisions, interpretations and other
actions of the Administrator shall be final and binding on all holders of awards and on all persons deriving their rights therefrom. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eligibility.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The 2005 Plan provides that awards may be granted to our employees, consultants and non-employee
directors. Incentive options may be granted only to employees (including officers and employee directors). </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Code Section&nbsp;162(m) Performance Goals.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We have designed the 2005 Plan so that it permits us to issue awards that
qualify as performance-based under Section&nbsp;162(m) of the Code. Thus, the Administrator may make performance goals applicable to a participant with respect to an award. At the Administrator's
discretion, one or more of the following or any other reasonable performance goals may apply: cash position, earnings per share, expenses, gross margin, individual objectives, net income, operating
cash flow, operating income, operating margin, return on assets, return on equity, return on sales, revenue, total stockholder return, and/or unit sales, all as determined in accordance with
accounting principles generally accepted in the United States or on a non-GAAP basis. Except for cash position, return on equity and total stockholder return, a performance goal may apply
either to us or to one of our business units. The Administrator may use other performance goals for awards that are not intended to qualify as performance-based under Section&nbsp;162(m) of the
Code. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>8</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=11,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=687358,FOLIO='8',FILE='DISK015:[05DEN2.05DEN1552]DC1552A.;22',USER='MBRADT',CD='28-MAR-2005;14:21' -->
<A NAME="page_dc1552_1_9"> </A>
<BR>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Terms and Conditions of Options.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each option granted under the 2005 Plan is evidenced by a written stock option agreement
between the optionee and the Company and is subject to the following terms and conditions: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Administrator determines the exercise price of options at the time the options are
granted. The option price of all incentive stock options under the 2005 Plan and non-statutory options granted under the 2005 Plan intended to qualify as "performance-based compensation"
within the meaning of Section&nbsp;162(m) of the Code may not be less than the fair market value of the common stock on the date the option is granted. Subject to the foregoing, and subject to
Section&nbsp;409A of the Internal Revenue Code, non-statutory stock options may be granted with a per share exercise price determined by the Administrator. Non-statutory
options may be granted with an exercise price of less than 100% of the fair market value per share on the date of grant pursuant to a merger or other corporate transaction. In the case of an option
granted to an optionee who at the time of grant owns stock representing more than 10% of the voting power of all classes of stock of the Company, the option price must be not less than 110% of the
fair market value on the date of grant. For purposes of the 2005 Plan, fair market value is defined as the closing sale price per share of the common stock on the date of grant as reported on the
Nasdaq National Market. On March&nbsp;16, 2005, the closing price of the common stock as reported on the Nasdaq National Market was $45.49. Optionees are not required to pay the Company any amount
upon the grant of an option. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Form of Consideration.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The means of payment for shares issued upon exercise of an option is specified in
each option agreement and generally may be made by cash, check, other shares of our common stock owned by the optionee, delivery of an exercise notice together with irrevocable instructions to a
broker to deliver to us the exercise price from sale proceeds, or by a combination thereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Exercise of the Option.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each stock option agreement will specify the term of the option and the date when
the option is to become exercisable. However, in no event shall an option granted under the 2005 Plan be exercised more than 10&nbsp;years after the date of grant. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Termination of Employment.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The 2005 Plan provides that if the optionee's employment relationship with the
Company is terminated for any reason, other than death or disability, the period of time during which an option may be exercised following such termination may be determined by the Administrator and
set forth in the option agreement and the option may be exercised only to the extent the options were exercisable on the date of termination and in no event later than the expiration of the term of
the option. In the absence of a specified time in the option agreement, the option will generally remain exercisable for three months after the optionee's termination. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Permanent Disability.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If an optionee's employment is terminated due to a disability, options granted to such
employee may be exercised within such period of time as is determined by the Administrator and set forth in the option agreement, but only to the extent that the options were exercisable on the date
of termination and in no event later than the expiration of the term of such option as set forth in the option agreement. In the absence of a specified time in the option agreement, the option will
generally remain exercisable for one year following the optionee's termination due to disability. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Death.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If an optionee should die while an employee of the Company, options granted to such employee may be
exercised within such period of time as is determined by the Administrator and set forth in the option agreement but only to the extent that the options were exercisable on the date of death and in no
event later than the expiration of the term of such option as set forth in the option agreement. In the absence of a specified time in the option agreement, the option will generally remain
exercisable for one year following the optionee's death. </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>9</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=12,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=37561,FOLIO='9',FILE='DISK015:[05DEN2.05DEN1552]DC1552A.;22',USER='MBRADT',CD='28-MAR-2005;14:21' -->
<A NAME="page_dc1552_1_10"> </A>
<UL>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;ISO Limitation.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Plan provides a limit of $100,000 on the aggregate fair market value of shares subject
to all incentive options held by an employee that are exercisable for the first time in any one calendar year. To the extent the limit is exceeded, the options relating to the excess shares will be
treated as nonstatutory options. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;162(m) Share Limit.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;No participant may be granted stock options and stock appreciation rights to purchase
more than 423,430 shares of common stock in any fiscal year, except that up to 846,860 shares may be granted in the participant's first fiscal year of service. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Other Provisions.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The stock option agreement may contain other terms, provisions and conditions as
determined by the Administrator. </FONT></P>

</UL>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Terms and Conditions of Stock Appreciation Rights.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Administrator, subject to the provisions of the 2005 Plan (including
the 162(m) share limit referred to above), shall have complete discretion to determine the terms and conditions of SARs granted under the 2005 Plan. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment of Stock Appreciation Right Amount.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Upon exercise of an SAR, the holder of the SAR shall be entitled to receive
payment in an amount equal to the product of (i)&nbsp;the difference between the fair market value of a share on the date of exercise and the exercise price and (ii)&nbsp;the number of shares for
which the SAR is exercised. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment upon Exercise of Stock Appreciation Right.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;At the discretion of the Administrator, payment to the holder of an SAR
may be in cash, shares of our common stock or a combination thereof. To the extent that an SAR is settled in cash, the shares available for issuance under the 2005 Plan shall not be diminished as a
result of the settlement. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock Appreciation Right Agreement.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each SAR grant shall be evidenced by an agreement that shall specify the exercise price,
the term of the SAR, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, shall determine. </FONT></P>


<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expiration of Stock Appreciation Rights.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;SARs granted under the 2005 Plan expire as determined by the Administrator, but in
no event later than ten (10)&nbsp;years from date of grant. No SAR may be exercised by any person after its expiration. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions of the 2005 Plan, restricted stock may be granted to our employees and
consultants at any time and from time to time at the discretion of the Administrator. The Administrator shall have complete discretion to determine (i)&nbsp;the number of shares subject to a
restricted stock award granted to any participant and (ii)&nbsp;the conditions for grant or for vesting that must be satisfied, which may be based principally or solely on continued provision of
services but may include a performance-based component. However, no participant shall be granted a restricted stock award and performance shares covering more than 211,715 shares in any of our fiscal
years, except that up to 635,145 shares may be granted in the participant's first fiscal year of service. Until the shares are issued, no right to vote or receive dividends or any other rights as a
stockholder shall exist with respect to the underlying shares. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock Award Agreement.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each restricted stock grant shall be evidenced by an agreement that shall specify the
purchase price (if any) and such other terms and conditions as the Administrator shall determine; </FONT><FONT SIZE=2><I>provided, however</I></FONT><FONT SIZE=2>, that if the restricted stock grant
has a purchase price, the purchase price must be paid no more than ten (10)&nbsp;years following the date of grant. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Shares.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions of the 2005 Plan, performance shares may be granted to our employees
and consultants at any time and from time to time as shall be determined at the discretion of the Administrator. The Administrator shall have complete discretion to determine (i)&nbsp;the number of
shares of our common stock subject to a performance share award granted to any service provider and (ii)&nbsp;the conditions that must be satisfied for grant or for vesting, which may </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>10</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=13,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=962415,FOLIO='10',FILE='DISK015:[05DEN2.05DEN1552]DC1552A.;22',USER='MBRADT',CD='28-MAR-2005;14:21' -->
<A NAME="page_dc1552_1_11"> </A>
<BR>

<P><FONT SIZE=2>be
based principally or solely on achievement of performance milestones but may include a service-based component. However, no participant shall be granted performance shares and restricted stock
awards covering more than 211,715 shares in any of our fiscal years, except that up to 634,145 shares may be granted in the participant's first fiscal year of service. </FONT></P>


<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Share Award Agreement.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each performance share grant shall be evidenced by an agreement that shall specify such
other terms and conditions as the Administrator, in its sole discretion, shall determine. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Units.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Performance units are similar to performance shares, except that they shall be settled in cash equivalent
to the fair market value of the underlying shares of our common stock, determined as of the vesting date. The shares available for issuance under the 2005 Plan shall not be diminished as a result of
the settlement of a performance unit. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performance Unit Award Agreement.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each performance unit grant shall be evidenced by an agreement that shall specify such
terms and conditions as shall be determined at the discretion of the Administrator. However, no participant shall be granted a performance unit award covering more than $1,000,000 in any of the
Company's fiscal years, except that a newly hired participant may receive a performance unit award covering up to $3,000,000. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred Stock Units.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Deferred stock units shall consist of a restricted stock, performance share or performance unit award
that the Administrator, in its sole discretion, permits to be paid out in installments or on a deferred basis, in accordance with rules and procedures established by the Administrator. Deferred stock
units are subject to the individual annual limits that apply to each type of award. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-Transferability of Awards.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Unless determined otherwise by the Administrator, an award granted under the 2005
Plan may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime
of the recipient, only by the recipient. If the Administrator makes an award granted under the 2005 Plan transferable, such award shall contain such additional terms and conditions as the
Administrator deems appropriate. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acceleration upon Death.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In the event that a participant dies while a service provider, the award may be exercised within the
time period set forth in the relevant agreement, but in no event later than the expiration date of the relevant award. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustment Upon Changes in Capitalization.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In the event that our capital stock is changed by reason of any stock split,
reverse stock split, stock dividend, combination or reclassification of our common stock or any other increase or decrease in the number of issued shares of common stock effected without receipt of
consideration by us, appropriate proportional adjustments shall be made in the number and class of shares of stock subject to the 2005 Plan, the individual fiscal year limits applicable to restricted
stock, performance share awards, SARs and options, the number and class of shares of stock subject to any award outstanding under the 2005 Plan, and the exercise price of any such outstanding option
or SAR or other award. Any such adjustment shall be made by the Administrator or the Compensation Committee of our Board of Directors, whose determination shall be conclusive. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change of Control.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In the event of a change of control, the successor corporation (or its parent or subsidiary) will assume
or substitute each outstanding award. If the successor corporation refuses to assume the awards or to substitute equivalent awards, such awards shall become 100% vested. In such event, the
Administrator shall notify the participant that each award subject to exercise is fully exercisable for 30&nbsp;days from the date of such notice and that the award terminates upon expiration of
such period. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>11</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=14,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=604,FOLIO='11',FILE='DISK015:[05DEN2.05DEN1552]DC1552A.;22',USER='MBRADT',CD='28-MAR-2005;14:21' -->
<A NAME="page_dc1552_1_12"> </A>
<BR>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amendment, Suspensions and Termination of the 2005 Plan.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Our Board of Directors may amend, suspend or terminate the 2005 Plan
at any time; </FONT><FONT SIZE=2><I>provided, however</I></FONT><FONT SIZE=2>, that stockholder approval is required for any amendment to the extent necessary to comply with
Rule&nbsp;16b-3 promulgated under the Securities Exchange Act of 1934 ("Rule&nbsp;16b-3") or Section&nbsp;422 of the Code, or any other applicable rule or statute or by
the rules of any stock exchange or automated quotation system on which the Company's shares may then be listed or quoted. The 2005 Plan may constitute a "nonqualified deferred compensation plan" under
Section&nbsp;409A of the Internal Revenue Code, and the Board may be expected to amend the 2005 Plan to comply with regulations expected to be issued under Section&nbsp;409A. If the 2005 Plan is
approved, the 2005 Plan will terminate in April 2015. </FONT></P>

<P><FONT SIZE=2><I>Federal Income Tax Information  </I></FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incentive Stock Options.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;An optionee who is granted an incentive stock option will not recognize taxable income either at the
time the option is granted or upon its exercise, although the exercise is an adjustment for alternative minimum tax purposes and may subject the optionee to the alternative minimum tax. Upon the sale
or exchange of the shares more than two years after grant of the option and one year after exercise of the option, any gain or loss will be treated as long-term capital gain or loss. If
these holding periods are not satisfied, the optionee will recognize ordinary income at the time of sale or exchange equal to the difference between the exercise price and the lower of (i)&nbsp;the
fair market value of the shares at the date of the option exercise or (ii)&nbsp;the sale price of the shares. Any gain or loss recognized on such a premature disposition of the shares in excess of
the amount treated as ordinary income will be characterized as long-term or short-term capital gain or loss, depending on the holding period. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-statutory Stock Options.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;All other options that do not qualify as incentive stock options are referred to as
non-statutory options. An optionee will not recognize any taxable income at the time a non-statutory option is granted. However, upon its exercise, the optionee will recognize
ordinary income generally measured as the excess of the then fair market value of the shares purchased over the purchase price. Any taxable income recognized in connection with an option exercise by
an optionee who is also an employee of the Company will be subject to tax
withholding by the Company. Upon resale of such shares by the optionee, any difference between the sales price and the optionee's purchase price, to the extent not recognized as taxable income as
described above, will be treated as long-term or short-term capital gain or loss, depending on the holding period. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock Appreciation Rights.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;No taxable income is reportable when an SAR is granted to a participant. Upon exercise, the
participant will recognize ordinary income in an amount equal to the fair market value of any shares of our common stock received and/or the amount of cash received. Any additional gain or loss
recognized upon any later disposition of the shares of our common stock would be a capital gain or loss. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock, Performance Units and Performance Shares.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;A participant will not have taxable income upon grant (unless,
with respect to restricted stock, he or she elects to be taxed at that time). Instead, he or she will recognize ordinary income at the time of vesting equal to the fair market value (on the vesting
date) of the vested shares or cash received minus any amount paid for the shares of our vested common stock. </FONT></P>


<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax Effect for the Company.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;We generally will be entitled to a tax deduction in connection with an award under the 2005 Plan
in an amount equal to the ordinary income realized by a participant and at the time the participant recognizes such income. Special rules limit the deductibility of compensation paid to our chief
executive officer and to each of our four most highly compensated executive officers. Under Section&nbsp;162(m) of the Code, the annual compensation paid to any of these specified executives will be
deductible only to the extent that it does not exceed $1,000,000. However, we can preserve the deductibility of certain compensation in excess of $1,000,000 if the conditions of Section&nbsp;162(m)
are </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>12</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=15,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=167302,FOLIO='12',FILE='DISK015:[05DEN2.05DEN1552]DC1552A.;22',USER='MBRADT',CD='28-MAR-2005;14:21' -->
<A NAME="page_dc1552_1_13"> </A>
<BR>

<P><FONT SIZE=2>met
with respect to awards. These conditions include stockholder approval of the 2005 Plan and performance goals under the 2005 Plan, setting individual annual limits on each type of award, and
certain other requirements. The 2005 Plan has been designed to permit the Administrator to grant awards that qualify as performance-based for purposes of satisfying the conditions of
Section&nbsp;162(m), thereby permitting us to continue to receive a federal income tax deduction in connection with any such awards. </FONT></P>


<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Requirements Regarding "Deferred Compensation."</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Certain of the benefits under the 2005 Plan may constitute "deferred
compensation" within the meaning of Section 409A of the Internal Revenue Code, a recently enacted provision governing "nonqualified deferred compensation plans." Failure to comply with the
requirements of the provisions of Section&nbsp;409A regarding participant elections and the timing of payment distributions could result in the affected participants being required to recognize
ordinary income for federal tax purposes earlier than expected, and to be subject to substantial penalties. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
foregoing is only a summary of the effect of federal income taxation upon us and upon the participant, does not purport to be complete, and does not discuss the tax consequences of
the participant's death or the income tax laws of any municipality, state or foreign country in which a participant may reside. It also does not discuss the potential application of
Section&nbsp;280G of the Internal Revenue Code, which can apply to an "excess parachute payment." Further, different rules may apply if the participant is also an officer, director, or 10%
stockholder of the Company. </FONT></P>

<P><FONT SIZE=2><I>Accounting Treatment  </I></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Currently, employee awards with purchase prices at or above fair market value on the grant date typically do not result in any direct charge to our reported
earnings. However, the fair market value of these awards is required to be disclosed in the notes to our financial statements. We must also disclose, in the notes to our financial statements, the pro
forma impact these awards would have on our reported earnings and earnings per share if the fair value of the awards at the time of grant were treated as a compensation expense. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Financial Accounting Standards Board has adopted a standard which will require mandatory expensing for equity awards for public companies commencing at the beginning of the first
fiscal quarter after June&nbsp;15, 2005. Consequently, we expect that all Plan awards granted after the effective date and any Plan awards granted prior to the effective date with outstanding
unvested awards as of the effective date will result in direct charges to our reported earnings over the future respective vesting periods. </FONT></P>


<P><FONT SIZE=2><I>New Plan Benefits  </I></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The grant of awards under the 2005 Plan, including grants to our named executive officers and directors, is discretionary. As of the date of this proxy statement,
there has been no determination with respect to future awards under the 2005 Plan. Accordingly, the amount of any future discretionary awards is not determinable. The following table sets forth
information with respect to the grant of </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>13</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=16,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=546698,FOLIO='13',FILE='DISK015:[05DEN2.05DEN1552]DC1552A.;22',USER='MBRADT',CD='28-MAR-2005;14:21' -->
<A NAME="page_dc1552_1_14"> </A>
<BR>

<P><FONT SIZE=2>options
during the fiscal year ended December&nbsp;31, 2004 to: (a)&nbsp;non-employee directors; (b)&nbsp;our named executive officers; (c)&nbsp;all current executive officers as a
group; and (d)&nbsp;all other employees as a group: </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>OPTION GRANTS IN FISCAL 2004  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="81%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="66%" ALIGN="LEFT"><FONT SIZE=1><B>Name of Individual or Identity of Group and Position<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="19%" ALIGN="CENTER"><FONT SIZE=1><B>Number of<BR>
Shares Subject to<BR>
Options Granted</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Grant Price(1)</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="66%" VALIGN="TOP"><FONT SIZE=2>Patrick M. Byrne<BR>
President and Chief Executive Officer</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>-0-</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>-0-</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="66%" VALIGN="TOP"><FONT SIZE=2>Jonathan E. Johnson III<BR>
Vice President, Corporate Affairs and Legal</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>5,000</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>18.58</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="66%" VALIGN="TOP"><FONT SIZE=2>David K. Chidester<BR>
Vice President, Finance</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>25,000</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>18.58</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="66%" VALIGN="TOP"><FONT SIZE=2>Shawn Schwegman<BR>
Vice President, Technology</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>10,000</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>18.58</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="66%" VALIGN="TOP"><FONT SIZE=2>Russell (Tad) Martin<BR>
Vice President, Merchandising and Operations</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>25,000</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>18.58</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="66%" VALIGN="TOP"><FONT SIZE=2>All current executive officers as a group (5 people)</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT"><FONT SIZE=2>65,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>18.58</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="66%" VALIGN="TOP"><FONT SIZE=2>All current directors who are not executive officers as a group (4&nbsp;people)</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT"><FONT SIZE=2>50,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>23.60</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="66%" VALIGN="TOP"><FONT SIZE=2>All other employees as a group</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="19%" ALIGN="RIGHT"><FONT SIZE=2>358,574</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>25.23</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="120">
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD><FONT SIZE=2>Represents
the weighted average per share grant price.
<A NAME="dc1552_ratification_of_selection_of_i__rat02991"> </A>
<A NAME="toc_dc1552_3"> </A></FONT></DD></DL>

<P><FONT SIZE=2><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RATIFICATION OF SELECTION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee has selected PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for the current fiscal year.
PricewaterhouseCoopers LLP has served as our independent registered public accounting firm since 1999. Although ratification of the Audit Committee's selection of PricewaterhouseCoopers LLP is not
required under our bylaws or other legal requirements, the Company is submitting the appointment of PricewaterhouseCoopers LLP to the stockholders as a matter of good corporate practice. If
stockholders do not ratify the appointment of PricewaterhouseCoopers LLP, the Audit Committee will reconsider whether or not to retain PricewaterhouseCoopers LLP. Even if stockholders ratify the
selection of PricewaterhouseCoopers LLP, the Audit Committee may appoint a different independent registered public accounting firm or replace PricewaterhouseCoopers LLP with a different independent
registered public accounting firm at any time if the Audit Committee determines it is in the best interests of the Company and the stockholders to do so. Representatives of PricewaterhouseCoopers LLP
are expected to attend the meeting in order to respond to appropriate questions from stockholders and will have an opportunity to make a statement if they desire to do so. </FONT></P>

<P><FONT SIZE=2><B>Audit Fees  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The aggregate fees PricewaterhouseCoopers LLP billed us for each of the last two fiscal years for professional services for the audits of our annual financial
statements, management's assessment of the effectiveness of internal control over financial reporting, the effectiveness of internal control over financial reporting and reviews of financial
statements included in our Reports on Form 10-K and Form&nbsp;10-Q were $191,400 in 2003 and $567,300 in 2004. The increase in our 2004 audit fees was primarily due to $350,000 in fees
for the audits of management's assessment of the effectiveness of </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>14</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=17,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=628932,FOLIO='14',FILE='DISK015:[05DEN2.05DEN1552]DC1552A.;22',USER='MBRADT',CD='28-MAR-2005;14:21' -->
<A NAME="page_dc1552_1_15"> </A>
<BR>

<P><FONT SIZE=2>internal
control over financial reporting and the effectiveness of internal control over financial reporting as of December&nbsp;31, 2004. </FONT></P>

<P><FONT SIZE=2><B>Audit-Related Fees  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The aggregate fees and out-of-pocket expenses PricewaterhouseCoopers LLP billed us in each of the last two fiscal years for assurance and
related services that are reasonably related to the performance of the audit or review of the Company's financial statements and are not reported above under the caption "Audit Fees" were $145,800 in
2003, of which $127,400 was for audit related services in connection with our follow-on offering in the first quarter of 2003, and of which $18,400 was for consultations regarding revenue
recognition and compliance with the Sarbanes-Oxley Act of 2002, and $116,600 in 2004, all of which was for audit-related services in connection with our offerings and registration statements during
2004. </FONT></P>

<P><FONT SIZE=2><B>Tax Fees  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PricewaterhouseCoopers LLP did not bill us any additional fees in the last two fiscal years for compliance, tax advice, or tax planning. </FONT></P>

<P><FONT SIZE=2><B>All Other Fees  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PricewaterhouseCoopers LLP did not bill us any additional fees in the last two fiscal years for products and services provided by PricewaterhouseCoopers LLP,
other than the services reported above. </FONT></P>

<P><FONT SIZE=2><B>Auditor Independence  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee has considered the role of PricewaterhouseCoopers LLP in providing us with the services described above, and has concluded that those services
are compatible with their independence from management and from the Company. </FONT></P>

<P><FONT SIZE=2><B>Policy on Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services of Independent Registered Public Accounting Firm  </B></FONT></P>

<P><FONT SIZE=2><I>General  </I></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee has adopted an Audit and Non-Audit Services Pre-Approval Policy, which sets forth the procedures and the conditions
pursuant to which services to be performed by the independent registered public accounting firm are to be pre-approved. Under the Policy, proposed services either may be
pre-approved by agreeing to a framework with descriptions of allowable services with the Audit Committee ("general pre-approval"), or require the specific
pre-approval of the Audit Committee ("specific pre-approval"). Unless a type of service has received general pre-approval, it requires specific
pre-approval by the Audit Committee if it is to be provided by the independent registered public accounting firm. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Policy describes the Audit, Audit-related, Tax and All Other Services that are subject to the general pre-approval of the Audit Committee. The Audit Committee will
annually review and pre-approve the services that may be provided by the independent registered public accounting firm that are subject to general pre-approval. Under the
Policy, the Audit Committee may delegate either type of pre-approval authority to its chairperson or any other member or members. The member to whom such authority is delegated must
report, for
informational purposes only, any pre-approval decisions to the Audit Committee at its next meeting. The Policy does not delegate the Audit Committee's responsibilities to
pre-approve services performed by the independent registered public accounting firm to management. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>15</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=10,SEQ=18,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=22693,FOLIO='15',FILE='DISK015:[05DEN2.05DEN1552]DC1552A.;22',USER='MBRADT',CD='28-MAR-2005;14:21' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P><FONT SIZE=2><A
NAME="page_de1552_1_16"> </A> </FONT></P>

<!-- TOC_END -->

<P><FONT SIZE=2><I>Audit Services  </I></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The annual Audit services engagement scope and terms are subject to the general pre-approval of the Audit Committee. Audit services include the annual
financial statement audit (including required quarterly reviews) and other procedures required to be performed by the independent registered public accounting firm to be able to form an opinion on the
Company's consolidated financial statements. Audit services also include the attestation engagement for the independent registered public accounting firm's report on management's assertion on internal
control over financial reporting and the effectiveness of internal control over financial reporting. The Policy provides that the Audit Committee will monitor the Audit services engagement throughout
the year and will also approve, if necessary, any changes in terms and conditions resulting from changes in audit scope or other items. The Policy provides for Audit Committee pre-approval
of specific Audit services. </FONT></P>

<P><FONT SIZE=2><I>Audit-related Services  </I></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Audit-related services are assurance and related services that are reasonably related to the performance of the audit or review of the Company's financial
statements or that are traditionally performed by the independent registered public accounting firm. Under the Policy, the Audit Committee grants general pre-approval to specified
Audit-related services. All other Audit-related services not specified must be specifically pre-approved by the Audit Committee. </FONT></P>

<P><FONT SIZE=2><I>Tax Services  </I></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the Policy, the Audit Committee grants general pre-approval to specific tax compliance, planning and advice services that have historically been
provided by the auditor, that the Audit Committee has reviewed and believes would not impair the independence of the auditor, and that are consistent with the SEC's rules on auditor independence.
Other tax services must be specifically approved by the Audit Committee. </FONT></P>

<P><FONT SIZE=2><I>All Other Services  </I></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the Policy, the Audit Committee grants general pre-approval to specific permissible non-audit services classified as All Other
Services that it believes are routine and recurring services, would not impair the independence of the independent registered public accounting firm and are consistent with the SEC's rules on auditor
independence. Services permissible under applicable rules but not specifically approved in the Policy require further specific pre-approval by the Audit Committee. </FONT></P>

<P><FONT SIZE=2><I>Procedures  </I></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Policy provides that at the beginning of each year, the Vice President, Finance (our principal financial and accounting officer) and the Company's independent
registered public accounting firm will jointly submit to the Audit Committee a schedule of audit, audit-related, tax and other non-audit services that are subject to general
pre-approval. This schedule will provide a description of each type of service that is subject to general pre-approval and, where possible, will provide projected fees (or a
range of projected fees) for each service. The Audit Committee will review and approve the types of services and review the projected fees for the next fiscal year. Any changes to the fee amounts
listed in the schedule will be subject to further specific approval of the Audit Committee. The Policy prohibits the independent registered public accounting firm from commencing any project not
described in the schedule approved by the Audit Committee until specific approval has been given. All such audit, audit related, tax and non-audit services, if any, performed by
PricewaterhouseCoopers LLP during 2004 were pre-approved by the Audit Committee in accordance with the Policy. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>16</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=19,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=915501,FOLIO='16',FILE='DISK015:[05DEN2.05DEN1552]DE1552A.;15',USER='MBRADT',CD='28-MAR-2005;12:28' -->
<A NAME="page_de1552_1_17"> </A>
<BR>

<P><FONT SIZE=2><B>Recommendation of the Board of Directors  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors unanimously recommends that the stockholders vote "for" ratification of the selection of PricewaterhouseCoopers LLP as the Company's
independent registered public accounting firm. </FONT></P>

<P><FONT SIZE=2><B>Vote Required  </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The affirmative vote of a majority of the shares represented at the meeting, in person or by proxy, will be required to approve the proposal. </FONT></P>

<A NAME="de1552_other_business"> </A>
<A NAME="toc_de1552_1"> </A>

<P><FONT SIZE=2><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OTHER BUSINESS  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board knows of no other business for consideration at the meeting. If other matters are properly presented at the meeting, or at any adjournment or
postponement of the meeting, Messrs.&nbsp;Byrne and Johnson will vote, or otherwise act, on your behalf in accordance with their judgment on such matters. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>17</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=20,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=861343,FOLIO='17',FILE='DISK015:[05DEN2.05DEN1552]DE1552A.;15',USER='MBRADT',CD='28-MAR-2005;12:28' -->
<A NAME="page_de1552_1_18"> </A>
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="de1552_the_board"> </A>
<A NAME="toc_de1552_2"> </A>
<BR></FONT><FONT SIZE=2><B>THE BOARD    <BR>    </B></FONT></P>

<P><FONT SIZE=2><A
NAME="de1552_general"> </A>
<A NAME="toc_de1552_3"> </A></FONT> <FONT SIZE=2><B>General    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors is currently composed of five members. One current director is a nominee for re-election this year. The remaining four
directors will continue to serve the terms described below. Our directors serve staggered terms. This is accomplished as follows: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>each
director serves a three-year term,
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
directors are divided into three classes,
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
classes are as nearly equal in number as possible, and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>the
term of each class begins on a staggered schedule. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise instructed, the proxy holders will vote the proxies received by them for Ms.&nbsp;Abraham, who is a current director of the Company. In the event that
Ms.&nbsp;Abraham is unable or declines to serve as a director at the time of the Annual Meeting, the proxies will be voted for any nominee who shall be designated by a majority of the independent
members of the present Board of Directors to fill the vacancy. In the event that additional persons are nominated for election as directors, the proxy holders intend to vote all proxies received by
them in such a manner as will ensure the election of the nominee approved by a majority of the independent members of the Board, if possible. The term of office of the person elected as a director
will continue until the 2008 Annual Meeting of Stockholders or until his or her successor has been duly elected and qualified or until his or her earlier death, resignation or removal. It is not
expected that Ms.&nbsp;Abraham will be unable or will decline to serve as a director. </FONT></P>

<P><FONT SIZE=2><A
NAME="de1552_board_and_committee_meetings"> </A>
<A NAME="toc_de1552_4"> </A>
<BR></FONT><FONT SIZE=2><B>Board and Committee Meetings    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board held nine meetings during 2004. The Audit Committee held six meetings, and the Compensation Committee held two meetings during 2004. Each director
attended at least 75% of the meetings of the Board and of the committees on which he or she served during 2004. </FONT></P>

<P><FONT SIZE=2><A
NAME="de1552_board_independence"> </A>
<A NAME="toc_de1552_5"> </A>
<BR></FONT><FONT SIZE=2><B>Board Independence    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors has determined that, except for our President Patrick M. Byrne and his father John J. Byrne, each of our current directors, including the
director standing for re-election, is independent within the meaning of the Nasdaq director independence standards. </FONT></P>

<P><FONT SIZE=2><A
NAME="de1552_committees_of_the_board"> </A>
<A NAME="toc_de1552_6"> </A>
<BR></FONT><FONT SIZE=2><B>Committees of the Board    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors has an Audit Committee and a Compensation Committee, each of which has adopted a written charter. All members of the committees are
appointed by the Board of Directors, and each member is independent within the meaning of the Nasdaq director independence standards. The committees are described in more detail below. In addition,
the Board has adopted resolutions authorizing a majority of the independent members of the Board of Directors to recommend nominees for election to the Board, as described in more detail below. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Audit Committee.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Board has an Audit Committee consisting of John&nbsp;A. Fisher, Gordon&nbsp;S. Macklin and
Allison&nbsp;H. Abraham, each of whom is independent within the meaning of the Nasdaq director independence standards. The Board of Directors has determined that each of Mr.&nbsp;Fisher,
Mr.&nbsp;Macklin and Ms.&nbsp;Abraham is an "audit committee financial expert" as defined by the SEC. The Audit Committee is responsible for reviewing and monitoring our financial statements and
internal accounting procedures, selecting, reviewing and monitoring our independent registered public accounting firm, evaluating the scope of the annual audit, reviewing audit results, and consulting
with </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>18</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=21,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=604667,FOLIO='18',FILE='DISK015:[05DEN2.05DEN1552]DE1552A.;15',USER='MBRADT',CD='28-MAR-2005;12:28' -->
<A NAME="page_de1552_1_19"> </A>
<BR>

<P><FONT SIZE=2>management
and our independent registered public accounting firm prior to presentation of financial statements to stockholders. The Audit Committee Report is included beginning on page&nbsp;27 of
this proxy statement. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation Committee.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Board also has a Compensation Committee consisting of John&nbsp;A. Fisher and Gordon&nbsp;S.
Macklin. The Compensation Committee is responsible for determining salaries, incentives and other forms of compensation for our directors, officers and other employees and administering various
incentive compensation and benefit plans. The Compensation Committee Report is included beginning on page&nbsp;22 of this proxy statement. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nominations.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Board does not have a standing nominating committee or committee performing similar functions. The Board has
adopted resolutions in accordance with the Nasdaq Marketplace Rules authorizing a majority of the independent members of the Board to recommend nominees to the full Board. The Board believes that it
is appropriate for the Board not to have a nominating committee because of the small size of the full Board. The Board consists of five members, three of whom are independent. The Board considered
forming a nominations committee consisting of two or all three of the independent members of the Board. Forming a committee consisting of two members was unattractive because it would have omitted one
of the independent members of the Board. The Board desired the participation in the nomination procedure of all of its independent members, and therefore authorized a majority of the independent
members of the Board to make nominations. The Board intends to review this matter periodically, and may in the future elect to designate a formal
nominations committee. Each member of the Board of Directors has historically participated in the consideration of director nominees. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
independent members of the Board do not have a nominating committee charter, but act pursuant to Board resolutions as described above. Each of the members of the Board authorized to
recommend nominees to the full Board is independent within the meaning of the Nasdaq director independence standards. </FONT></P>

<P><FONT SIZE=2><A
NAME="de1552_director_qualifications"> </A>
<A NAME="toc_de1552_7"> </A>
<BR></FONT><FONT SIZE=2><B>Director Qualifications    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The independent members of the Board have not formalized specific minimum qualifications they believe must be met by a candidate to be recommended by the
independent members. The independent members believe that candidates for election to the Board should have the highest professional and personal ethics and values, consistent with those of the
Company. Candidates should have broad relevant experience, and should be committed to enhancing long-term stockholder value. They should be able and willing to provide insight and
practical advice based on experience, and they must actively represent the interests of the stockholders. The independent members believe that a variety of types and a balance of knowledge, experience
and capabilities among the members of the Board are in the best interests of the stockholders. </FONT></P>

<P><FONT SIZE=2><A
NAME="de1552_identification_and_eval__de102237"> </A>
<A NAME="toc_de1552_8"> </A>
<BR></FONT><FONT SIZE=2><B>Identification and Evaluation of Nominees for Director    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The independent members of the Board believe that the current Board composition is serving the stockholders of the Company well. The independent Board members
have considered recommending additional persons as candidates for the Board from time to time, based largely on the qualifications of the potential candidates, rather than on any perceived need of the
Company. In the future, the independent members may consider candidates identified through current members of the Board, professional search firms, stockholders or other persons. Candidates may be
evaluated at regular or special meetings of the Board, and may be considered at any point during the year. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
independent members have a policy that they will consider any properly submitted director candidates recommended by stockholders of the Company. Any stockholder who desires to submit
a recommendation should submit a written recommendation to the Board, including information about </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>19</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=22,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=76630,FOLIO='19',FILE='DISK015:[05DEN2.05DEN1552]DE1552A.;15',USER='MBRADT',CD='28-MAR-2005;12:28' -->
<A NAME="page_de1552_1_20"> </A>
<BR>

<P><FONT SIZE=2>the
qualifications of the person to be a nominee for election to the Board, and a consent of the person to serve if elected, addressed to Board of Directors, Overstock.com,&nbsp;Inc.,
6322&nbsp;South 3000 East, Suite&nbsp;100, Salt Lake City, Utah 84121. There is no difference in the manner in which the independent members would evaluate a nominee based on whether the nominee
is recommended by a stockholder. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
independent members have not approved any nominee for inclusion on the Company's proxy card for the 2005 Annual Meeting other than Allison H. Abraham, who is standing for reelection.
The Company has not paid a fee to any third party or parties to identify or evaluate or assist in identifying or evaluating potential nominees. The independent members did not receive, by
November&nbsp;18, 2004, any recommended nominee from any stockholder that beneficially owned more than 5% of the Company's voting common stock for at least one year as of the date the recommendation
was made, or from a group of stockholders that beneficially owned, in the aggregate, more than 5% of the Company's voting common stock, with each of the securities used to calculate that ownership
held for at least one year as of the date the recommendation was made. </FONT></P>

<P><FONT SIZE=2><A
NAME="de1552_communications_with_the_board"> </A>
<A NAME="toc_de1552_9"> </A>
<BR></FONT><FONT SIZE=2><B>Communications with the Board    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In January&nbsp;2004 the Board adopted resolutions to provide a formal process by which stockholders may communicate with the Board. Although the adoption of
the formal process did not change the previously existing informal procedures by which stockholders could communicate with the Board, whether for the purpose of recommending nominees for election to
the Company's Board of Directors or for other purposes, the adoption of the formal process did clarify that stockholders may communicate directly with the Board, whether for the purpose of
recommending nominees for election to the Company's Board of Directors or for other purposes. The formal process adopted by the Board permits stockholders to communicate with the Board either in
writing, addressed to the Board at the Company's headquarters at 6322&nbsp;South 3000 East, Suite&nbsp;100, Salt Lake City, Utah 84121, or by e-mail, sent to </FONT> <FONT SIZE=2><I>boardofdirectors@overstock.com</I></FONT><FONT SIZE=2>. All
communications from stockholders regarding matters appropriate for stockholder communications with the Board and
delivered as described will be delivered to Board members. </FONT></P>

<P><FONT SIZE=2><A
NAME="de1552_annual_meeting_attendance"> </A>
<A NAME="toc_de1552_10"> </A>
<BR></FONT><FONT SIZE=2><B>Annual Meeting Attendance    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company's policy is that Board members should attend annual stockholder meetings if reasonably possible. All five of the members of the Board attended the
2004 annual stockholders meeting. </FONT></P>

<P><FONT SIZE=2><A
NAME="de1552_code_of_ethics"> </A>
<A NAME="toc_de1552_11"> </A>
<BR></FONT><FONT SIZE=2><B>Code of Ethics    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has adopted a code of ethics that applies to all of the Company's directors and employees, including the Company's principal executive officer,
principal financial officer, principal accounting officer or controller, or persons performing similar functions. The Company will provide a copy of the code of ethics to any person without charge,
upon request. Requests for a copy of the code of ethics may be made in writing addressed to: General Counsel, Overstock.com,&nbsp;Inc., 6322&nbsp;South 3000 East, Suite&nbsp;100, Salt Lake City,
Utah, 84121. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>20</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=23,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=956599,FOLIO='20',FILE='DISK015:[05DEN2.05DEN1552]DE1552A.;15',USER='MBRADT',CD='28-MAR-2005;12:28' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P><FONT SIZE=2><A
NAME="page_dg1552_1_21"> </A> </FONT></P>

<!-- TOC_END -->

<P><FONT SIZE=2><A
NAME="dg1552_information_regarding_d__dg102420"> </A>
<A NAME="toc_dg1552_1"> </A>
<BR></FONT><FONT SIZE=2><B>Information Regarding Director Nominee and Other Directors    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Set forth below is certain information as of the record date regarding the nominee for re-election and all other directors of Overstock whose term of
office continues after the 2005 Annual Meeting. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Class&nbsp;III Director (Term Expiring in 2005) and Nominee for re-election for a Term Expiring in 2008  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="64%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="33%" ALIGN="LEFT"><FONT SIZE=1><B>Name<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="CENTER"><FONT SIZE=1><B>Age</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="33%" ALIGN="CENTER"><FONT SIZE=1><B>Position with the Company</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="18%" ALIGN="CENTER"><FONT SIZE=1><B>Director Since</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="33%"><FONT SIZE=2>Allison H. Abraham</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT"><FONT SIZE=2>42</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%"><FONT SIZE=2>Director</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%"><FONT SIZE=2>March&nbsp;2002</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Allison H. Abraham</I></FONT><FONT SIZE=2> has served as a Director of Overstock since March&nbsp;2002 and is currently a consultant to several early stage
technology companies. Ms.&nbsp;Abraham served as President and as a
director of LifeMinders,&nbsp;Inc., an online direct marketing company, from May&nbsp;2000 until the acquisition of LifeMinders by Cross Media Marketing Corp. in October&nbsp;2001. Prior to
joining LifeMinders, Ms.&nbsp;Abraham served as Chief Operating Officer of iVillage&nbsp;Inc., an online media company, from May&nbsp;1998 to May&nbsp;2000. From February&nbsp;1997 to
April&nbsp;1998, Ms.&nbsp;Abraham was President, Chief Operating Officer and a director of Shoppers Express, an online grocery service, and also served as Vice President of Sales and Marketing for
several months prior to her promotion. From 1992 to 1996, Ms.&nbsp;Abraham held several marketing and management positions at Ameritech Corporation. She was employed at American Express Travel
Related Services in New York City from 1988 to 1992, focusing on the launch of new products and loyalty programs. Ms.&nbsp;Abraham holds a Bachelor of Arts in Economics from Tufts University and a
MBA degree from the Darden School at the University of Virginia. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Class&nbsp;I Directors (Term Expiring in 2006)  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="66%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="33%" ALIGN="LEFT"><FONT SIZE=1><B>Name<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="CENTER"><FONT SIZE=1><B>Age</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="33%" ALIGN="CENTER"><FONT SIZE=1><B>Position with the Company</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="20%" ALIGN="CENTER"><FONT SIZE=1><B>Director Since</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="33%"><FONT SIZE=2>John A. Fisher</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT"><FONT SIZE=2>57</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%"><FONT SIZE=2>Director</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%"><FONT SIZE=2>May&nbsp;2002</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="33%"><FONT SIZE=2>Patrick M. Byrne</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT"><FONT SIZE=2>42</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%"><FONT SIZE=2>President, and Chairman of the Board of Directors</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%"><FONT SIZE=2>October&nbsp;1999</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>John A. Fisher</I></FONT><FONT SIZE=2> has served as a director of Overstock since May&nbsp;2002. Mr.&nbsp;Fisher has served as Managing Director of
Fisher&nbsp;&amp; Company LLC, an investment banking advisor to international branded consumer growth companies since October&nbsp;1996. From 1987 to 1996, Mr.&nbsp;Fisher was Managing Director of
Hambrecht&nbsp;&amp; Quist Group, a venture capital and investment banking company, responsible for leading all services to branded consumer growth companies. From 1984 to 1987, he served as chief
executive of Bechtle Fisher&nbsp;&amp; Company,&nbsp;Inc., a private investment bank. From 1976 to 1984, he served as vice president of corporate finance of The Crocker Bank. From 1973 to 1976, he
served as a member of the
White House staff (Office of Management&nbsp;&amp; Budget), and from 1971 to 1973, as management consultant with Touche Ross&nbsp;&amp; Co. Mr.&nbsp;Fisher has a Bachelor of Arts Degree in Economics
from Yale College and an MBA from Stanford University. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Dr.&nbsp;Patrick M. Byrne</I></FONT><FONT SIZE=2> has served as our principal executive officer and as a Director since October&nbsp;1999, as Chairman of the
Board since February&nbsp;2001, and currently serves as our President. From September&nbsp;1997 to May&nbsp;1999, Dr.&nbsp;Byrne served as President and Chief Executive Officer of Fechheimer
Brothers,&nbsp;Inc., a manufacturer and distributor of uniforms. From 1995 until its sale in September&nbsp;1999, Dr.&nbsp;Byrne was Chairman, President and Chief Executive Officer of Centricut,
LLC, a manufacturer and distributor of industrial torch parts. From 1994 to the present, Dr.&nbsp;Byrne has served as a Manager of the Haverford Group, an investment company and an affiliate of
Overstock. Dr.&nbsp;Byrne has a Bachelor of Arts degree in Chinese studies from Dartmouth College, a Master's degree from Cambridge University as a Marshall Scholar, and a Ph.D. in philosophy from
Stanford University. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>21</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=24,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=772753,FOLIO='21',FILE='DISK015:[05DEN2.05DEN1552]DG1552A.;13',USER='DTAYLOR',CD='28-MAR-2005;08:55' -->
<A NAME="page_dg1552_1_22"> </A>
<BR>
<P ALIGN="CENTER"><FONT SIZE=2><B>Class&nbsp;II Directors (Term Expiring in 2007)  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="66%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="33%" ALIGN="LEFT"><FONT SIZE=1><B>Name<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="CENTER"><FONT SIZE=1><B>Age</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="33%" ALIGN="CENTER"><FONT SIZE=1><B>Position with the Company</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="20%" ALIGN="CENTER"><FONT SIZE=1><B>Director Since</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="33%"><FONT SIZE=2>Gordon S. Macklin</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT"><FONT SIZE=2>76</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%"><FONT SIZE=2>Director</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%"><FONT SIZE=2>October&nbsp;1999</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="33%"><FONT SIZE=2>John J. Byrne</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT"><FONT SIZE=2>72</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="33%"><FONT SIZE=2>Vice Chairman of the Board of Directors</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%"><FONT SIZE=2>October&nbsp;1999&nbsp;-<BR>
October 2002 and April 2004 to present</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Gordon S. Macklin</I></FONT><FONT SIZE=2> has served as a Director of Overstock since October&nbsp;1999. He is a member of the Audit Committee and a member of
the Compensation Committee of the Board. Mr.&nbsp;Macklin is currently an independent corporate financial advisor. Mr.&nbsp;Macklin served as Chairman, President and Chief Executive Officer of
White River Corporation, an information services company, from October&nbsp;1993 to July&nbsp;1998. Mr.&nbsp;Macklin was Chairman of Hambrecht and Quist Group, a venture capital and investment
banking company, from 1987 until 1992. From 1970 to 1987 Mr.&nbsp;Macklin served as President of the National Association of Securities Dealers,&nbsp;Inc. Mr.&nbsp;Macklin serves as a director
for Martek Biosciences Corporation; MedImmune,&nbsp;Inc.; White Mountains Insurance Group,&nbsp;Ltd.; and is a director, trustee or managing general partner of 48 of the investment companies in
the Franklin Templeton Group of Funds. Mr.&nbsp;Macklin has a Bachelor of Arts in Economics from Brown University. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>John J. Byrne</I></FONT><FONT SIZE=2> served as a Director of Overstock from October&nbsp;1999 to October&nbsp;2002. Mr.&nbsp;Byrne has served as Chairman
of the Board of White Mountains Insurance Group,&nbsp;Ltd., a financial services holding company, since 1985 and was its Chief Executive Officer and President from 1985 until his first retirement in
1997, and then served as Chief Executive Officer again from 2000 to December&nbsp;2002. Prior to that he served as Chairman and Chief Executive Officer of GEICO from 1976 to 1985. Earlier in his
career, Mr.&nbsp;Byrne spent eight years with the Travelers Insurance Companies, most recently as Executive Vice President. Mr.&nbsp;Byrne has also served a director of American Express Company,
Martin Marietta Corporation, Lehman Brothers,&nbsp;Inc., MidOcean Group of Companies, Zurich Re, Terra Nova (Bermuda) Holdings, and OneBeacon Insurance Group. Mr.&nbsp;Byrne has served as an
Overseer of the Amos Tuck School of Business Administration of Dartmouth College and the Rutgers University Foundation and was a member of the Stanford Graduate School of Business Advisory Council and
the Standard Research Institute Advisory Council. Mr.&nbsp;Byrne has a Bachelor of Science from Rutgers University, a graduate degree in Mathematics from the University of Michigan and is a Member
of the American Academy of Actuaries. John&nbsp;J. Byrne is the father of Patrick&nbsp;M. Byrne, who is a Director and President, and the chief executive officer of, the Company. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="dg1552_compensation_committee___dg102493"> </A>
<A NAME="toc_dg1552_2"> </A>
<BR></FONT><FONT SIZE=2><B>COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During 2004: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>None
of the members of the Compensation Committee was an officer (or former officer) or employee of the Company or any of its subsidiaries;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>None
of the members of the Compensation Committee entered into (or agreed to enter into) any transaction or series of transactions with the Company or any of its
subsidiaries in which the amount involved exceeds $60,000;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>None
of the Company's executive officers served on the Compensation Committee (or another Board committee with similar functions or, if there was no committee like that, the
entire Board of Directors) of another entity where one of that entity's officers served on the Company's Board or as a member of its Compensation Committee; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>None
of the Company's executive officers was a director of another entity where one of that entity's officers served on the Company's Compensation Committee. </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>22</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=25,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=544811,FOLIO='22',FILE='DISK015:[05DEN2.05DEN1552]DG1552A.;13',USER='DTAYLOR',CD='28-MAR-2005;08:55' -->
<A NAME="page_dg1552_1_23"> </A>
<UL>
<UL>
</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="dg1552_compensation_of_directors"> </A>
<A NAME="toc_dg1552_3"> </A>
<BR></FONT><FONT SIZE=2><B>COMPENSATION OF DIRECTORS    <BR>    </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We pay our non-employee directors $20,000 annually at the rate of $5,000 per quarter. We also reimburse our non-employee directors for
out-of-pocket expenses incurred in connection with attending Board and committee meetings. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
2004, we granted non-employee directors options to purchase shares of our common stock under our Amended and Restated 1999 Stock Option Plan and our 2002 Stock Option Plan
for their service on our Board. Our Board determines the number of option shares to be granted, if any, to any new non-employee directors. The following table shows information about
aggregate options granted to non-employee directors in 2004: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="71%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="34%" ALIGN="LEFT"><FONT SIZE=1><B>Name<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="20%" ALIGN="CENTER"><FONT SIZE=1><B>Grant Date</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="17%" ALIGN="CENTER"><FONT SIZE=1><B>Exercise Price ($)</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="20%" ALIGN="CENTER"><FONT SIZE=1><B>Number of<BR>
Options Granted</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="34%"><FONT SIZE=2>John J. Byrne</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%"><FONT SIZE=2>May&nbsp;21, 2004</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT"><FONT SIZE=2>31.13</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%" ALIGN="RIGHT"><FONT SIZE=2>5,000</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="34%"><FONT SIZE=2>Gordon Macklin</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%"><FONT SIZE=2>January&nbsp;23, 2004<BR>
May&nbsp;21, 2004</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT"><FONT SIZE=2>18.58<BR>
31.13</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%" ALIGN="RIGHT"><FONT SIZE=2>10,000<BR>
5,000</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="34%"><FONT SIZE=2>Allison Abraham</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%"><FONT SIZE=2>January&nbsp;23, 2004<BR>
May&nbsp;21, 2004</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT"><FONT SIZE=2>18.58<BR>
31.13</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%" ALIGN="RIGHT"><FONT SIZE=2>10,000<BR>
5,000</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="34%"><FONT SIZE=2>John Fisher</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%"><FONT SIZE=2>January&nbsp;23, 2004<BR>
May&nbsp;21, 2004</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="17%" ALIGN="RIGHT"><FONT SIZE=2>18.58<BR>
31.13</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%" ALIGN="RIGHT"><FONT SIZE=2>10,000<BR>
5,000</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="dg1552_report_of_the_compensation_com__rep02595"> </A>
<A NAME="toc_dg1552_4"> </A>
<BR></FONT><FONT SIZE=2><B>REPORT OF THE COMPENSATION COMMITTEE ON EXECUTIVE COMPENSATION    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Committee has provided the following report on the compensation of the executive officers including the chief executive officer and the relationship of the
Company's performance to executive compensation. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Compensation Committee Report  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In 2004, the Compensation Committee (the "Committee") of the Board consisted of Messrs.&nbsp;Fisher and Macklin, neither of whom was an employee or former
employee of the Company or any of its subsidiaries during the year. The Committee has overall responsibility for the Company's executive compensation policies and practices. The Committee's functions
include: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>evaluating
management's performance,
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>reviewing
and approving the Company's compensation philosophy,
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>reviewing
and approving all executive officers' compensation, including salaries, and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>administering
compensation plans including granting awards under the Company's stock option plans to its employees. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2><A
NAME="dg1552_compensation_of_the_chief_executive_officer"> </A>
<A NAME="toc_dg1552_5"> </A>
<BR></FONT><FONT SIZE=2><B>Compensation of the Chief Executive Officer    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company's President, Patrick&nbsp;M. Byrne, declined to accept any salary or bonus payment from the Company during 2004. Dr.&nbsp;Byrne also declined to
accept any salary or bonus payment from the Company during each of the three preceding years. Dr.&nbsp;Byrne's lack of any cash compensation bears no relationship at all to the Company's
performance. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
addition to serving as President, Dr.&nbsp;Byrne serves as Chairman of the Board of Directors, and controls High Plains Investments, LLC, which is the Company's largest stockholder.
The Committee believes that Dr.&nbsp;Byrne's economic interest in the Company, directly and through High Plains Investments LLC, is fully aligned with the economic interests of the other
stockholders. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>23</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=26,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=949199,FOLIO='23',FILE='DISK015:[05DEN2.05DEN1552]DG1552A.;13',USER='DTAYLOR',CD='28-MAR-2005;08:55' -->
<A NAME="page_dg1552_1_24"> </A>
<BR>

<P><FONT SIZE=2><A
NAME="dg1552_compensation_policies_a__dg102507"> </A>
<A NAME="toc_dg1552_6"> </A>
<BR></FONT><FONT SIZE=2><B>Compensation Policies Applicable to other Executive Officers    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company's compensation program for its executive officers other than Dr.&nbsp;Byrne consists of (i)&nbsp;salaries, (ii)&nbsp;bonus opportunities, and
(iii)&nbsp;stock-based compensation. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Salaries.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Company pays its executive officers other than Dr.&nbsp;Byrne salaries that are determined, in part, based on
the responsibilities of the position and the experience and knowledge of the individual. Salaries are adjusted periodically at the discretion of the Committee, taking into consideration factors
including the Company's growth, performance and financial condition and the Committee's subjective perception of the individual's performance, but at present (and subject to change at the discretion
of the Committee) are capped at a maximum annual rate of $100,000. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonus Opportunities.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;During 2004, the Compensation Committee determined to recognize the extraordinary contributions of
Messrs.&nbsp;Johnson, Chidester and Martin with bonuses of $50,000, $20,000 and 3,500, respectively. In addition, in February&nbsp;2005, the Compensation Committee awarded bonuses of $75,000 to
each of Messrs.&nbsp;Johnson, Chidester, Schwegman and Martin based on their respective contributions to the performance of the Company in 2004. </FONT></P>

<P><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based Compensation.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The third component of the Company's compensation program consists of share based payments. The
options granted to executive officers during 2004 were granted in January&nbsp;2004, with exercise prices of $18.58 per share, which the Committee determined to be equal to the fair market value of
the underlying shares of common stock on the date of grant. The Committee believes that stock option grants or other equity awards provide proper incentives to management and align the economic
interests of management with those of the other stockholders. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Members of the Compensation Committee<BR>  </B></FONT><FONT SIZE=2>Gordon S. Macklin<BR>
John A. Fisher </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="dg1552_executive_officers"> </A>
<A NAME="toc_dg1552_7"> </A>
<BR></FONT><FONT SIZE=2><B>EXECUTIVE OFFICERS    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to Dr.&nbsp;Byrne, the following persons were executive officers of the Company as of March&nbsp;1, 2005: </FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="64%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="37%" ALIGN="LEFT"><FONT SIZE=1><B>Executive Officers<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="6%" ALIGN="CENTER"><FONT SIZE=1><B>Age</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="51%" ALIGN="CENTER"><FONT SIZE=1><B>Position</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="37%"><FONT SIZE=2>David K. Chidester</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER"><FONT SIZE=2>33</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="51%"><FONT SIZE=2>Vice President, Finance</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="37%"><FONT SIZE=2>Jonathan E. Johnson&nbsp;III</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER"><FONT SIZE=2>38</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="51%"><FONT SIZE=2>Vice President, Corporate Affairs and Legal</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="37%"><FONT SIZE=2>Shawn Schwegman</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER"><FONT SIZE=2>30</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="51%"><FONT SIZE=2>Vice President, Technology</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="37%"><FONT SIZE=2>Russell (Tad) Martin</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" ALIGN="CENTER"><FONT SIZE=2>33</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="51%"><FONT SIZE=2>Vice President, Merchandising and Operations</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Mr.&nbsp;Chidester</I></FONT><FONT SIZE=2> served as our Controller from August&nbsp;1999 to August&nbsp;2003, as our Acting Chief Financial Officer from
August&nbsp;2003 to January&nbsp;2004 and is now our Vice President, Finance (our principal financial and accounting officer). Prior to joining Overstock, Mr.&nbsp;Chidester was with
PricewaterhouseCoopers LLP from December&nbsp;1995 to August&nbsp;1999. Mr.&nbsp;Chidester holds a Bachelor of Science Degree in Accounting and a Master's Degree in Business Administration, both
from the University of Utah. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Mr.&nbsp;Johnson</I></FONT><FONT SIZE=2> joined the Company in September&nbsp;2002. He has served as our General Counsel and as our Vice President, Strategic
Projects, and currently serves as our Vice President, Corporate Affairs and Legal and as our Secretary. From May&nbsp;1999 to September&nbsp;2002 Mr.&nbsp;Johnson held various positions with
TenFold Corporation, including positions as General Counsel, Executive Vice President and Chief Financial Officer. From October&nbsp;1997 to April&nbsp;1999 Mr.&nbsp;Johnson practiced law in the
Los Angeles </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>24</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=27,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=673645,FOLIO='24',FILE='DISK015:[05DEN2.05DEN1552]DG1552A.;13',USER='DTAYLOR',CD='28-MAR-2005;08:55' -->
<A NAME="page_dg1552_1_25"> </A>
<BR>

<P><FONT SIZE=2>offices
of Milbank, Tweed, Hadley&nbsp;&amp; McCloy and from September&nbsp;1994 to September&nbsp;1997 he practiced law in the Los Angeles offices of Graham&nbsp;&amp; James. From
February&nbsp;1994 to August&nbsp;1994 Mr.&nbsp;Johnson served as a judicial clerk at the Utah Supreme Court for Justice Leonard H. Russon, and prior to that, from August&nbsp;1993 to
January&nbsp;1994, Mr.&nbsp;Johnson served as a judicial clerk at the Utah Court of Appeals for Justice Russon. Mr.&nbsp;Johnson holds a Bachelor's Degree in Japanese from Brigham Young
University, studied for a year at Osaka University of Foreign Studies in Japan, and received his law degree from the J. Reuben Clark, Jr.&nbsp;Law School at Brigham Young University. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Mr.&nbsp;Schwegman</I></FONT><FONT SIZE=2> has served as our Vice President, Technology since January&nbsp;2004. He has also served as our Chief Technology
Officer from September&nbsp;2003 to January&nbsp;2004, as our Vice President of Sales and Marketing from April&nbsp;2003 to December&nbsp;2003; as our Director of Books, Music&nbsp;&amp; Videos
department from June&nbsp;2002 to April&nbsp;2003; as Manager of our Affiliate Marketing Program from January&nbsp;2002 to April&nbsp;2003; as our Manager of Special Projects from
April&nbsp;2001 to January&nbsp;2002; and as our Director of Information Technology from March&nbsp;2000 to April&nbsp;2001. From April&nbsp;1999 to February&nbsp;2000 Mr.&nbsp;Schwegman
served as Vice President of Sales with Sycamore Software Development Corp. From January&nbsp;1999 to April&nbsp;1999 Mr.&nbsp;Schwegman served as Director of Management Information Systems with
Fechheimer Brothers Co. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><I>Mr.&nbsp;Martin</I></FONT><FONT SIZE=2> has served as our Vice President of Merchandising and Operations since January&nbsp;2004. From January&nbsp;2003 to
December&nbsp;2003 he served as our Director of Merchandising, and from January&nbsp;2001 to December&nbsp;2002 served as a Buyer for the Company. From April&nbsp;1999 to December&nbsp;2000
Mr.&nbsp;Martin was Senior Product Manager for Gear.com,&nbsp;Inc., a company we acquired in November&nbsp;2000. From May&nbsp;1996 to January&nbsp;1999 Mr.&nbsp;Martin was the National
Sales Manager for Chisco, a Salt Lake City based sports accessory company, and from 1994 to 1996 he worked for the Salt Lake Olympic Bid Committee. Mr.&nbsp;Martin holds a Bachelor's Degree in
English from the University of Utah. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
are no family relationships among any of the current officers and directors of the Company except that John&nbsp;J. Byrne, who is a member of the Board of Directors, is the
father of our President and Chairman of our Board of Directors, Dr.&nbsp;Patrick&nbsp;M. Byrne. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>25</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=28,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=354168,FOLIO='25',FILE='DISK015:[05DEN2.05DEN1552]DG1552A.;13',USER='DTAYLOR',CD='28-MAR-2005;08:55' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_di1552_1_26"> </A> </FONT></P>

<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di1552_executive_compensation"> </A>
<A NAME="toc_di1552_1"> </A>
<BR></FONT><FONT SIZE=2><B>EXECUTIVE COMPENSATION    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The table below shows, for the last three fiscal years, compensation information for (i)&nbsp;the Company's chief executive officer, (ii)&nbsp;the next four
most highly compensated executive officers who were serving as such at December&nbsp;31, 2004 and whose total salary and bonus was $100,000 or more, and (iii)&nbsp;up to two additional individuals
for whom disclosure would have been provided but for the fact that the individual was not serving as an executive officer at December&nbsp;31, 2004. We refer to all of these individuals as our named
officers. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>Summary Compensation Table  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="30%" ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH WIDTH="5%" ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" ROWSPAN=2><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Long-Term<BR>
Compensation<BR>
Awards</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="7%"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="30%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="5%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" ROWSPAN=2><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Annual Compensation</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="7%"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="30%" ROWSPAN=2 ALIGN="LEFT"><FONT SIZE=1><B>Name and Principal Position<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" ROWSPAN=2><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="5%" ROWSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Fiscal<BR>
Year</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" ROWSPAN=2><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Securities<BR>
Underlying<BR>
Options</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" ROWSPAN=2><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>All Other<BR>
Compensation(1)</B></FONT><HR NOSHADE></TH>
<TH WIDTH="7%"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Salary</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Bonus</B></FONT><HR NOSHADE></TH>
<TH WIDTH="7%"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="30%"><FONT SIZE=2>Patrick M. Byrne<BR>
President</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2>2004<BR>
2003<BR>
2002</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$<BR><BR></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>&#151;<BR>
&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$<BR><BR></FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>&#151;<BR>
&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$<BR><BR></FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>&#151;<BR>
&#151;<BR>
119,972</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$<BR><BR></FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2>&#151;<BR>
&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="7%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="30%"><FONT SIZE=2><BR>
Jonathan E. Johnson III<BR>
Vice President, Corporate Affairs and Legal</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2><BR>
2004<BR>
2003<BR>
2002</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
100,000<BR>
140,000<BR>
32,397</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
125,000<BR>
&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
5,000<BR>
30,000<BR>
40,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2><BR>
&#151;<BR>
&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="7%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="30%"><FONT SIZE=2><BR>
David K. Chidester<BR>
Vice President, Finance</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2><BR>
2004<BR>
2003<BR>
2002</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
100,000<BR>
92,500<BR>
82,292</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
95,000<BR>
600<BR>
&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
25,000<BR>
6,766<BR>
9,881</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2><BR>
43,270<BR>
36,255<BR>
9,981</FONT></TD>
<TD WIDTH="7%"><FONT SIZE=2><BR>(2)<BR>(2)<BR>(2)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="30%"><FONT SIZE=2><BR>
Shawn A. Schwegman<BR>
Vice President, Technology</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2><BR>
2004<BR>
2003<BR>
2002</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
100,000<BR>
88,333<BR>
100,000</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
75,000<BR>
&#151;<BR>
&#151;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
10,000<BR>
43,533<BR>
10,128</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2><BR>
265,179<BR>
2,650<BR>
1,500</FONT></TD>
<TD WIDTH="7%"><FONT SIZE=2><BR>(3)<BR><BR></FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="30%"><FONT SIZE=2><BR>
Russell (Tad) Martin<BR>
Vice President, Merchandising and Operations</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="RIGHT"><FONT SIZE=2><BR>
2004<BR>
2003<BR>
2002</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
90,000<BR>
75,000<BR>
58,667</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2><BR>
78,500<BR>
4,528<BR>
1,430</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2><BR>
25,000<BR>
7,647<BR>
5,228</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="14%" ALIGN="RIGHT"><FONT SIZE=2><BR>
2,794<BR>
2,203<BR>
1,802</FONT></TD>
<TD WIDTH="7%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="120">
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD><FONT SIZE=2>Amounts
represent our matching contributions to the 401(k) plan accounts for such officers, unless otherwise noted.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD><FONT SIZE=2>Amounts
include $39,670, $33,461 and $8,506, which represents taxable income from options exercised by Mr.&nbsp;Chidester for the years 2004, 2003 and 2002, respectively, and $3,600
$2,794 and $1,475, which represents our matching contributions to the 401(k) plan account for Mr.&nbsp;Chidester for the years 2004, 2003 and 2002, respectively.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD><FONT SIZE=2>Amount
represents taxable income from options exercised by Mr.&nbsp;Schwegman during 2004. </FONT></DD></DL>
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di1552_option_grants"> </A>
<A NAME="toc_di1552_2"> </A>
<BR></FONT><FONT SIZE=2><B>OPTION GRANTS    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table summarizes the stock options granted to each named officer during the year ended December&nbsp;31, 2004, including the potential realizable
value over the term of the options, which is based on assumed rates of stock appreciation of 5% and 10%, compounded annually and subtracting from that result the aggregate option exercise price. These
assumed rates of appreciation comply with the rules of the SEC and do not represent our estimate of future stock price. Actual gains, if any, on stock option exercises will depend on the future
performance of our common stock. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>26</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=29,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=149635,FOLIO='26',FILE='DISK015:[05DEN2.05DEN1552]DI1552A.;22',USER='MBRADT',CD='28-MAR-2005;12:22' -->
<A NAME="page_di1552_1_27"> </A>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the year ended December&nbsp;31, 2004, we granted options to purchase up to an aggregate of 473,574 shares to employees under our 2002 Stock Option Plan. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="23%" ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=11 ALIGN="CENTER"><FONT SIZE=1><B>Individual Grants</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="23%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" ROWSPAN=5><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ROWSPAN=5 ALIGN="CENTER"><FONT SIZE=1><B>Percent of<BR>
Total<BR>
Options<BR>
Granted to<BR>
Employees<BR>
in<BR>
Fiscal Year</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" ROWSPAN=4><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=8 ROWSPAN=4 ALIGN="CENTER"><FONT SIZE=1><B>Potential Realizable Value at<BR>
Assumed Annual Rates of<BR>
Stock Price Appreciation<BR>
for Option Terms</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="23%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" ROWSPAN=4><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ROWSPAN=4 ALIGN="CENTER"><FONT SIZE=1><B>Number of<BR>
Securities<BR>
Underlying<BR>
Options<BR>
Granted</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="23%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="1%" ROWSPAN=3><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=3 ALIGN="CENTER"><FONT SIZE=1><B>Market<BR>
Value on<BR>
Date of<BR>
Grant</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="23%" ROWSPAN=2 ALIGN="LEFT"><FONT SIZE=1><B>Name<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%" ROWSPAN=2><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ROWSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Exercise<BR>
Price</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%" ROWSPAN=2><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="10%" ROWSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Expiration<BR>
Date</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>0%</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>5%</B></FONT><HR NOSHADE></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>10%</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="23%"><FONT SIZE=2>Patrick M. Byrne</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>0.0</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="23%"><FONT SIZE=2>Johnathan E. Johnson III</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>5,000</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>1.1</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT"><FONT SIZE=2>18.58</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT"><FONT SIZE=2>18.58</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>1/22/2009</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>25,667</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>56,716</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="23%"><FONT SIZE=2>David K. Chidester</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>25,000</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>5.3</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT"><FONT SIZE=2>18.58</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT"><FONT SIZE=2>18.58</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>1/22/2009</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>128,333</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>283,582</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="23%"><FONT SIZE=2>Shawn A. Schwegman</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>10,000</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>2.1</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT"><FONT SIZE=2>18.58</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT"><FONT SIZE=2>18.58</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>1/22/2009</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>51,333</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>113,433</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="23%"><FONT SIZE=2>Russell (Tad) Martin</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>25,000</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>5.3</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>%</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT"><FONT SIZE=2>18.58</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="6%" ALIGN="RIGHT"><FONT SIZE=2>18.58</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="10%" ALIGN="RIGHT"><FONT SIZE=2>1/22/2009</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT SIZE=2>&#151;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>128,333</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="8%" ALIGN="RIGHT"><FONT SIZE=2>283,582</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di1552_aggregated_option_exercises_in__agg02192"> </A>
<A NAME="toc_di1552_3"> </A>
<BR></FONT><FONT SIZE=2><B>AGGREGATED OPTION EXERCISES IN 2004 AND FISCAL YEAR-END VALUES    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This table shows information about unexercised in-the-money stock options held by the named officers on December&nbsp;31, 2004. These
values have been calculated on the basis of the closing price of our common stock on December&nbsp;31, 2004, which was $69.00 per share. All options were granted under our Amended and Restated 1999
Stock Option Plan or our 2002 Stock Option Plan. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="85%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="33%" ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" ROWSPAN=2><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=3 ROWSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Number of Shares Underlying Unexercised Options at December&nbsp;31, 2004</B></FONT><HR NOSHADE></TH>
<TH WIDTH="4%" ROWSPAN=2><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=5 ROWSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Value of Unexercised In-the-Money Options at December&nbsp;31, 2004</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="33%" ROWSPAN=2 ALIGN="LEFT"><FONT SIZE=1><B>Name<BR> </B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="11%" ALIGN="CENTER"><FONT SIZE=1><B>Exercisable</B></FONT><HR NOSHADE></TH>
<TH WIDTH="4%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER"><FONT SIZE=1><B>Unexercisable</B></FONT><HR NOSHADE></TH>
<TH WIDTH="4%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Exercisable</B></FONT><HR NOSHADE></TH>
<TH WIDTH="4%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Unexercisable</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="33%"><FONT SIZE=2>Patrick M. Byrne</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>127,595</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>31,193</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>8,114,381</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>2,152,317</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="33%"><FONT SIZE=2>Jonathan E. Johnson III</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>34,700</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>40,300</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>2,153,339</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>2,407,911</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="33%"><FONT SIZE=2>David K. Chidester</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>21,922</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>32,709</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>1,378,898</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>2,256,921</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD WIDTH="33%"><FONT SIZE=2>Shawn A. Schwegman</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>30,342</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>39,072</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>1,831,289</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>2,193,883</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD WIDTH="33%"><FONT SIZE=2>Russell (Tad) Martin</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT SIZE=2>13,574</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>31,427</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT SIZE=2>845,650</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT SIZE=2>1,634,170</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di1552_equity_compensation_plan_information"> </A>
<A NAME="toc_di1552_4"> </A>
<BR></FONT><FONT SIZE=2><B>EQUITY COMPENSATION PLAN INFORMATION    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table provides information as of December&nbsp;31, 2004 with respect to shares of our common stock that may be issued under our existing equity
compensation plans. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="96%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="32%" ALIGN="LEFT"><FONT SIZE=1><B>Plan category<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="21%" ALIGN="CENTER"><FONT SIZE=1><B>Number of securities to<BR>
be issued upon exercise<BR>
of outstanding options,<BR>
warrants and rights</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Weighted average<BR>
exercise price of<BR>
outstanding options,<BR>
warrants and rights</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="20%" ALIGN="CENTER"><FONT SIZE=1><B>Number of securities<BR>
remaining available for<BR>
future issuance</B></FONT><HR NOSHADE></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="32%"><FONT SIZE=2>Equity compensation plans approved by security holders</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT"><FONT SIZE=2>2,398,636</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT"><FONT SIZE=2>10.18</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%" ALIGN="RIGHT"><FONT SIZE=2>1,184,158</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="32%"><FONT SIZE=2><BR>
Equity compensation plans not approved by security holders</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT"><FONT SIZE=2><BR>
None</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT"><FONT SIZE=2><BR>
N/A</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="20%" ALIGN="RIGHT"><FONT SIZE=2><BR>
N/A</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT"><HR NOSHADE></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2 ALIGN="RIGHT"><HR NOSHADE></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%" ALIGN="RIGHT"><HR NOSHADE></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="32%"><FONT SIZE=2>Total</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="21%" ALIGN="RIGHT"><FONT SIZE=2>2,398,636</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>$</FONT></TD>
<TD WIDTH="18%" ALIGN="RIGHT"><FONT SIZE=2>10.18</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="20%" ALIGN="RIGHT"><FONT SIZE=2>1,184,158</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di1552_severance_and_change_of_control_arrangements"> </A>
<A NAME="toc_di1552_5"> </A>
<BR></FONT><FONT SIZE=2><B>SEVERANCE AND CHANGE OF CONTROL ARRANGEMENTS    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None of our executive officers has any contractual right to any severance or change of control payments under any employment or severance agreement. Our executive
officers hold options issued under our stock option plans, and the vesting of options issued under those plans may be accelerated, under certain circumstances, upon or in connection with a change of
control of the Company or upon </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>27</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=30,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=638317,FOLIO='27',FILE='DISK015:[05DEN2.05DEN1552]DI1552A.;22',USER='MBRADT',CD='28-MAR-2005;12:22' -->
<A NAME="page_di1552_1_28"> </A>
<BR>

<P><FONT SIZE=2>the
termination of the employment of the optionee within a period of time after a change of control has occurred. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di1552_report_of_the_audit_committee"> </A>
<A NAME="toc_di1552_6"> </A>
<BR></FONT><FONT SIZE=2><B>REPORT OF THE AUDIT COMMITTEE    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary set forth in any of the Company's previous or future filings under the Securities Act of 1933, as amended, or the
Exchange Act of 1934, as amended, that might incorporate this Proxy Statement or future filings with the SEC, in whole or in part, the following report shall not be deemed to be incorporated by
reference into any such filings. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following report concerns the Audit Committee's activities regarding oversight of the Company's financial reporting and auditing process. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Audit Committee is comprised solely of independent directors, as defined by Nasdaq rules, and it operates under a written charter adopted by the Board of Directors, a copy of which
is attached to this Proxy Statement. The composition of the Audit Committee, the attributes of its members and the responsibilities of the Audit Committee, as reflected in its charter, are intended to
be in accordance with applicable requirements for corporate audit committees. The Audit Committee reviews and assesses the adequacy of its charter on an annual basis. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
described more fully in its charter, the purpose of the Audit Committee is to provide general oversight of the Company's financial reporting, internal control and audit functions.
Management is responsible for the preparation, presentation and integrity of the Company's financial statements, accounting and financial reporting principles, and internal controls and procedures
designed to ensure compliance with accounting standards, applicable laws and regulations. PricewaterhouseCoopers LLP, the Company's independent registered public accounting firm, is responsible for
performing an independent audit of the consolidated financial statements in accordance with generally accepted auditing standards and management's assessment of the effectiveness of internal control
over financial reporting and the effectiveness of internal control over financial reporting. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Audit Committee members are not professional accountants or auditors, and their functions are not intended to duplicate or to certify the activities of management and the independent
registered public accounting firm, nor can the Audit Committee certify that the independent registered public accounting firm are "independent" under applicable rules. The Audit Committee serves a
board-level oversight role, in which it provides advice, counsel and direction to management and the auditors on the basis of the information it receives, discussions with management and the auditors
and the experience of the Audit Committee's members in business, financial and accounting matters. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Among
other matters, the Audit Committee monitors the activities and performance of the Company's external auditors, including the audit scope, external audit fees, auditor independence
matters and the extent to which the independent registered public accounting firm may be retained to perform non-audit services. The Audit Committee has authority and responsibility for
the appointment, compensation, retention and oversight of the Company's independent registered public
accounting firm. The Audit Committee also reviews the results of the external audit work with regard to the adequacy and appropriateness of the Company's financial, accounting and internal controls.
In addition, the Audit Committee generally oversees the Company's internal compliance programs. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Audit Committee has reviewed and discussed with management and the independent registered public accounting firm (i)&nbsp;the consolidated financial statements for each of the
three years in the period ended December 31, 2004, (ii)&nbsp;management's assessment of the effectiveness of the Company's internal control over financial reporting as of December 31, 2004,
(iii)&nbsp;PricewaterhouseCoopers LLP's evaluation of management's assessment of the effectiveness of internal control over financial reporting as of December&nbsp;31, 2004, and
(iv)&nbsp;PricewaterhouseCoopers LLP's evaluation of the effectiveness of the Company's internal control over financial reporting as of </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>28</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=31,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=21522,FOLIO='28',FILE='DISK015:[05DEN2.05DEN1552]DI1552A.;22',USER='MBRADT',CD='28-MAR-2005;12:22' -->
<A NAME="page_di1552_1_29"> </A>
<BR>

<P><FONT SIZE=2>December
31, 2004. Management has represented to the Audit Committee that the Company's consolidated financial statements were prepared in accordance with generally accepted accounting principles. The
Audit Committee has discussed with the independent registered public accounting firm the matters required to be discussed by Statement on Auditing Standards No. 61, as amended, "Communications with
Audit Committees." The Audit Committee has received the written disclosures and the letter from the independent registered public accounting firm required by the Independence Standards Board Standard
No.&nbsp;1, "Independence Discussions with Audit Committees," and the Committee discussed with the independent registered public accounting firm the independent registered public accounting firm's
independence. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Following
the Committee's discussions with management and the independent registered public accounting firm, the Committee recommended that the Board of Directors include the audited
consolidated financial statements in the Company's annual report in Form&nbsp;10-K for the year ended December&nbsp;31, 2004. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Members
of the Audit Committee<BR>
Gordon S. Macklin<BR>
John A. Fisher<BR>
Allison H. Abraham </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="di1552_share_ownership_of_mana__di102378"> </A>
<A NAME="toc_di1552_7"> </A>
<BR></FONT><FONT SIZE=2><B>SHARE OWNERSHIP OF MANAGEMENT, DIRECTORS AND 5% STOCKHOLDERS    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table sets forth information regarding the beneficial ownership of our common stock as of December&nbsp;31, 2004 by the following individuals or groups: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>each
person or entity who is known by us to own beneficially more than 5% of our outstanding stock;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>each
of our named officers;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>each
of our directors; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>all
directors and executive officers as a group. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
table is based upon information supplied by officers, directors and principal stockholders and schedules 13D and 13G filed with the SEC. Except as otherwise indicated, and subject to
applicable community property laws, the persons named in the table have sole voting and investment power with respect to all shares of common stock held by them. Applicable percentages are based on
19,815,486 </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>29</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=32,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=556275,FOLIO='29',FILE='DISK015:[05DEN2.05DEN1552]DI1552A.;22',USER='MBRADT',CD='28-MAR-2005;12:22' -->
<A NAME="page_di1552_1_30"> </A>
<BR>

<P><FONT SIZE=2>shares
of common stock outstanding as of December&nbsp;31, 2004, as adjusted as required by rules promulgated by the SEC. </FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="82%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ALIGN="LEFT"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%" ROWSPAN=2><FONT SIZE=1>&nbsp;</FONT></TH>
<TH COLSPAN=3 ROWSPAN=2 ALIGN="CENTER"><FONT SIZE=1><B>Shares Beneficially Owned</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH COLSPAN=2 ROWSPAN=2 ALIGN="LEFT"><FONT SIZE=1><B>Beneficial Owner (Name and Address)<BR> </B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="12%" ALIGN="CENTER"><FONT SIZE=1><B>Number</B></FONT><HR NOSHADE></TH>
<TH WIDTH="6%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="7%" ALIGN="CENTER"><FONT SIZE=1><B>Percent</B></FONT><HR NOSHADE></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 VALIGN="TOP"><FONT SIZE=2><B>5% Stockholders</B></FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" VALIGN="TOP"><FONT SIZE=2>High Plains Investments LLC<BR>
700 Bitner Road<BR>
Park City, Utah 84098</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>5,707,261</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2>(1)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>28.8</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" VALIGN="TOP"><FONT SIZE=2>Dorothy M. Byrne<BR>
3 Laramie Road<BR>
Etna, NH 03750</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>1,270,735</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2>(2)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>6.4</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" VALIGN="TOP"><FONT SIZE=2>Tiger Technology LLC<BR>
101 Park Avenue, 48<SUP>th</SUP> Floor<BR>
New York, NY 10178</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>1,000,000</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>5.0</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD COLSPAN=2 VALIGN="TOP"><BR><FONT SIZE=2><B>Directors and Executive Officers</B></FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="7%" VALIGN="TOP"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" VALIGN="TOP"><FONT SIZE=2>Patrick M. Byrne</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>6,820,649</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2>(4)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>34.4</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" VALIGN="TOP"><FONT SIZE=2>John J. Byrne Jr.</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>1,270,735</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2>(3)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>6.4</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" VALIGN="TOP"><FONT SIZE=2>Gordon S. Macklin</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>315,898</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2>(5)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>1.7</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" VALIGN="TOP"><FONT SIZE=2>Allison H. Abraham</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>32,500</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2>(6)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" VALIGN="TOP"><FONT SIZE=2>John A. Fisher</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>31,000</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2>(7)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" VALIGN="TOP"><FONT SIZE=2>Jonathan Johnson III</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>75,000</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2>(8)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" VALIGN="TOP"><FONT SIZE=2>David K. Chidester</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>54,631</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2>(9)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" VALIGN="TOP"><FONT SIZE=2>Shawn Schwegman</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>77,102</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2>(10)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" VALIGN="TOP"><FONT SIZE=2>Russell (Tad) Martin</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>45,354</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2>(11)</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>*</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD WIDTH="2%"><FONT SIZE=0>&nbsp;</FONT></TD>
<TD WIDTH="69%" VALIGN="TOP"><FONT SIZE=2>Directors and Officers as a Group (9 persons)</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>8,722,869</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="7%" ALIGN="RIGHT" VALIGN="TOP"><FONT SIZE=2>44.0</FONT></TD>
<TD WIDTH="2%" VALIGN="TOP"><FONT SIZE=2>%</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE ALIGN="LEFT" WIDTH="120">
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>*</FONT></DT><DD><FONT SIZE=2>Less
than 1% of the outstanding shares of common stock.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD><FONT SIZE=2>Includes
629,536 shares issuable upon exercise of currently exercisable warrants. Patrick M. Byrne, our President and Chairman of our Board of Directors, holds 100% of the voting
interest in and controls High Plains Investments LLC. These shares also include 201,693 shares held by High Meadows Finance L.C. High Plains Investments LLC disclaims beneficial ownership of the
shares held by High Meadows Finance L.C. to the extent it does not exercise voting or dispositive control over the shares held by High Meadows Finance L.C.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD><FONT SIZE=2>Ms.
Byrne's shares include 4,414 shares issuable upon exercise of currently exercisable warrants. Ms. Byrne's shares also include 365,107 shares held by Haverford-Utah, LLC; 50,361
shares issuable upon exercise of currently exercisable warrants held by Haverford-Utah, LLC; 201,693 shares held by High Meadows Finance L.C.; 523,545 shares held by John J. Byrne Jr.; and 92,850
shares issuable upon exercise of currently exercisable warrants held by John J. Byrne Jr.; and 5,000 shares issuable upon exercise of all outstanding options held by John J. Byrne Jr. Ms. Byrne
disclaims beneficial ownership of the shares held by Haverford-Utah, LLC; and High Meadows Finance L.C. except to the extent of her pecuniary interest in each entity respectively. Ms. Byrne also
disclaims beneficial ownership of the shares held by John J. Byrne Jr. to the extent she does not exercise voting or dispositive control over the shares held by John J. Byrne Jr.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(3)</FONT></DT><DD><FONT SIZE=2>John
J. Byrne Jr.'s shares include 92,850 shares issuable upon exercise of currently exercisable warrants. Mr. Byrne's shares also include: 365,107 shares held by Haverford-Utah, LLC
and 50,361 shares issuable upon exercise of currently exercisable warrants held by Haverford-Utah, LLC; 201,693 shares held by High Meadows Finance L.C.; 32,765 shares held by Dorothy Byrne; 4,414
shares issuable upon exercise of currently exercisable warrants held by Dorothy Byrne; and 5,000 </FONT></DD></DL>
<P ALIGN="CENTER"><FONT SIZE=2>30</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=33,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=598076,FOLIO='30',FILE='DISK015:[05DEN2.05DEN1552]DI1552A.;22',USER='MBRADT',CD='28-MAR-2005;12:22' -->
<A NAME="page_di1552_1_31"> </A>
<UL>

<P><FONT SIZE=2>shares
issuable upon exercise of all outstanding options. Mr. Byrne disclaims beneficial ownership of the shares held by Haverford-Utah, LLC and High Meadows Finance L.C. except to the extent of his
pecuniary interest in each entity, respectively. Mr. Byrne also disclaims beneficial ownership of the shares held by Dorothy Byrne to the extent he does not exercise voting or dispositive control over
the shares held by Dorothy Byrne. </FONT></P>

</UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(4)</FONT></DT><DD><FONT SIZE=2>Patrick
M. Byrne's shares include 158,788 shares issuable upon exercise of outstanding options. Patrick M. Byrne's shares also include 5,707,261 shares held by High Plains Investments
LLC; 629,536 shares issuable upon exercise of currently exercisable warrants held by High Plains Investments LLC; and 201,693 shares held by High Meadows Finance L.C. Dr. Byrne disclaims beneficial
ownership of the shares held by High Plains Investments LLC and High Meadows Finance L.C. except to the extent of his pecuniary interests in each entity respectively.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(5)</FONT></DT><DD><FONT SIZE=2>Mr.
Macklin's shares include 22,058 shares issuable upon exercise of outstanding options and an aggregate of 257,810 shares and an aggregate of 36,030 shares issuable upon currently
exercisable warrants held by the following entities: Macklin Family Limited Partnership I, the Macklin Family Limited Partnership III, the Gordon Macklin Family Trust and the Marilyn C. Macklin Family
Trust.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(6)</FONT></DT><DD><FONT SIZE=2>Ms.
Abraham's shares include 30,000 shares issuable upon exercise of outstanding options.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(7)</FONT></DT><DD><FONT SIZE=2>Mr.
Fisher's shares include 30,000 shares issuable upon exercise of outstanding options.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(8)</FONT></DT><DD><FONT SIZE=2>Mr.
Johnson's shares relate to 75,000 shares issuable upon the exercise of outstanding options.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(9)</FONT></DT><DD><FONT SIZE=2>Mr.
Chidester's shares relate to 54,631 shares issuable upon the exercise of outstanding options.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(10)</FONT></DT><DD><FONT SIZE=2>Mr.
Schwegman's shares include 69,414 shares issuable upon the exercise of outstanding options.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(11)</FONT></DT><DD><FONT SIZE=2>Mr.
Martin's shares include 45,000 shares issuable upon the exercise of outstanding options. </FONT></DD></DL>
<P ALIGN="CENTER"><FONT SIZE=2>31</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=34,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=392062,FOLIO='31',FILE='DISK015:[05DEN2.05DEN1552]DI1552A.;22',USER='MBRADT',CD='28-MAR-2005;12:22' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_dk1552_1_32"> </A> </FONT></P>

<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="dk1552_stock_performance_graph"> </A>
<A NAME="toc_dk1552_1"> </A>
<BR></FONT><FONT SIZE=2><B>STOCK PERFORMANCE GRAPH    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following graph shows a comparison of cumulative total stockholder return, calculated on a dividend reinvested basis, from the effective date of the initial
public offering of Overstock's common stock (May&nbsp;30, 2002) through December&nbsp;31, 2004 for Overstock, Media General's Nasdaq U.S. Index and Media General's Internet Software and Services
Index. The graph assumes that $100 was invested in Overstock's common stock (at the initial public offering price of $13.00 per share), and the above indices on May&nbsp;30, 2002. Historic stock
price performance is not necessarily indicative of future stock price performance. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>
<IMG SRC="g795666.jpg" ALT="logo" WIDTH="684" HEIGHT="439">
  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>ASSUMES $100 INVESTED ON MAY&nbsp;30, 2002<BR>
ASSUMES DIVIDENDS REINVESTED<BR>
FISCAL YEAR ENDING DECEMBER&nbsp;31, 2004  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>32</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=35,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=260432,FOLIO='32',FILE='DISK015:[05DEN2.05DEN1552]DK1552A.;11',USER='DTAYLOR',CD='28-MAR-2005;08:55' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_dm1552_1_33"> </A> </FONT></P>

<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="dm1552_other_information"> </A>
<A NAME="toc_dm1552_1"> </A>
<BR></FONT><FONT SIZE=2><B>OTHER INFORMATION    <BR>    </B></FONT></P>

<P><FONT SIZE=2><A
NAME="dm1552_certain_relationships_and_related_transactions"> </A>
<A NAME="toc_dm1552_2"> </A></FONT> <FONT SIZE=2><B>Certain Relationships and Related Transactions    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Since January&nbsp;1, 2004, there has not been, nor is there currently proposed, any transaction or series of similar transactions to which we were or are to be
a party in which the amount involved exceeds $60,000 and in which any director, executive officer or holder of more than 5% of our common stock had or will have a direct or indirect interest other
than the transactions described below. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
occasion, Haverford Valley, L.C. and certain affiliated entities make travel arrangements for our executives and pay the travel related expenses incurred by our executives on Company
business. In 2004 we reimbursed Haverford Valley, L.C. approximately $256,000 for these expenses. </FONT></P>

<P><FONT SIZE=2><A
NAME="dm1552_section_16(a)_beneficia__dm102046"> </A>
<A NAME="toc_dm1552_3"> </A>
<BR></FONT><FONT SIZE=2><B>Section&nbsp;16(a) Beneficial Ownership Reporting Compliance    <BR>    </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;16(a) of the Securities and Exchange Act of 1934 requires the Company's officers and directors, and persons who own more than ten percent (10%) of
the Company's common stock, to file certain reports regarding ownership of, and transactions in, the Company's securities with the SEC. Such officers, directors, and 10% stockholders are also required
to furnish the Company with copies of all Section&nbsp;16(a) forms that they file. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based
solely on a review of reports filed by, and on written representations from, its officers, directors and 10% stockholders, the Company believes that during 2004, all of its
officers, directors and 10% stockholders complied with requirements for reporting ownership and changes in ownership of Company common stock under Section&nbsp;16(a) of the Securities Act of 1934
except that Mr.&nbsp;Macklin filed
two late reports, Mr.&nbsp;Schwegman filed one report two days late, Mr.&nbsp;Byrne filed one report one day late and Mr.&nbsp;Chidester filed one report one day late. </FONT></P>

<P><FONT SIZE=2><A
NAME="dm1552_deadline_for_receipt_of_stockholder_proposals"> </A>
<A NAME="toc_dm1552_4"> </A>
<BR></FONT><FONT SIZE=2><B>Deadline For Receipt of Stockholder Proposals    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If you wish to submit a proposal for possible inclusion in our 2006 proxy material, we must receive your notice, in accordance with rules of the SEC and the
Company's Bylaws on or before November&nbsp;18, 2005. The proposal(s) should be mailed to our Secretary at our principal executive offices at 6322 South 3000 East, Suite 100, Salt Lake City, Utah
84121. If you intend to submit a proposal at the 2006 Annual Meeting but do not intend to include the proposal in our proxy statement for that meeting, you must provide appropriate notice to us on or
before January&nbsp;17, 2006. Our bylaws contain specific requirements regarding a stockholder's ability to nominate a candidate for director or to submit a proposal for consideration at an upcoming
annual meeting. If you would like a copy of the requirements contained in our bylaws, please contact our Secretary at the address shown above. </FONT></P>

<P><FONT SIZE=2><A
NAME="dm1552_costs_of_proxy_solicitation"> </A>
<A NAME="toc_dm1552_5"> </A>
<BR></FONT><FONT SIZE=2><B>Costs of Proxy Solicitation    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The solicitation is made on behalf of the Board of Directors of the Company. The Company will pay the cost of soliciting these proxies. We will reimburse
brokerage houses and other custodians, nominees and fiduciaries for reasonable expenses they incur in sending these proxy materials to you if you are a beneficial holder of our shares. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
receiving additional compensation, officials and regular employees of the Company may solicit proxies personally, by telephone, fax or email from some stockholders if proxies are
not promptly received. We have also hired Georgeson Shareholder Communications to assist in the solicitation of proxies at a cost of approximately $3,500 plus out-of-pocket
expenses. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;An
Annual Report on Form&nbsp;10-K, excluding exhibits, for the fiscal year ended December&nbsp;31, 2004 is enclosed with this Proxy Statement. You may obtain an
additional copy without charge by sending a </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>33</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=36,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=336494,FOLIO='33',FILE='DISK015:[05DEN2.05DEN1552]DM1552A.;10',USER='MBRADT',CD='28-MAR-2005;12:22' -->
<A NAME="page_dm1552_1_34"> </A>
<BR>

<P><FONT SIZE=2>written
request to Overstock.com,&nbsp;Inc., Attention Investor Relations, 6322 South 3000 East, Suite 100, Salt Lake City, Utah 84121. The Annual Report is also available on our website at </FONT> <FONT SIZE=2><I>www.overstock.com</I></FONT><FONT SIZE=2>.
</FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="39%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>By Order of the Board,</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="39%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=2><BR><FONT SIZE=2><B>
<IMG SRC="g431731.jpg" ALT="Signature" WIDTH="315" HEIGHT="85">
 </B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="39%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>Jonathan E. Johnson III<BR>
Secretary<BR></FONT>
</TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->


<P><FONT SIZE=2>March&nbsp;25,
2005<BR>
Salt Lake City, Utah </FONT></P>

<HR NOSHADE>
<P ALIGN="CENTER"><FONT SIZE=2>Overstock.com<BR>
6322 South 3000 East, Suite 100<BR>
Salt Lake City, Utah 84121<BR>
(801)&nbsp;947-3100 </FONT><FONT SIZE=2><I>www.overstock.com</I></FONT><FONT SIZE=2> Nasdaq Stock Symbol: OSTK </FONT></P>

<HR NOSHADE>
<P ALIGN="CENTER"><FONT SIZE=2>34</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=37,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=1036704,FOLIO='34',FILE='DISK015:[05DEN2.05DEN1552]DM1552A.;10',USER='MBRADT',CD='28-MAR-2005;12:22' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_do1552_1_1"> </A> </FONT></P>

<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="do1552_appendix_a_charter_for_the_aud__app02716"> </A>
<A NAME="toc_do1552_1"> </A>
<BR></FONT><FONT SIZE=2><B>APPENDIX A    <BR>    <BR>    CHARTER FOR THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS    <BR>    </B></FONT></P>

<P><FONT SIZE=2><B>PURPOSE:  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The purpose of the Audit Committee of the Board of Directors of Overstock.com,&nbsp;Inc. (the "</FONT><FONT SIZE=2><B><I>Company</I></B></FONT><FONT SIZE=2>") shall
be to oversee the accounting and financial reporting processes of the Company and the audits of the financial statements of the Company. The Audit Committee will undertake those specific duties and
responsibilities listed below and such other duties as the Board of Directors may from time to time prescribe. </FONT></P>

<P><FONT SIZE=2><B>MEMBERSHIP:  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee members will be appointed by, and will serve at the discretion of, the Board of Directors, and will consist of at least three members of the
Board of Directors. Each member shall meet the independence and experience requirements of the Nasdaq Stock Market, Section&nbsp;10A(m)(3) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act") and the rules and regulations of the Securities and Exchange Commission, and each member shall be able to read and understand fundamental financial statements, including a balance
sheet, income statement and cash flow statement, in accordance with the Nasdaq National Market Listing Standards. In addition, at least one member of the Audit Committee shall have past employment
experience in finance or accounting, requisite professional certification in accounting, or any other comparable experience or background that results in the individual's financial sophistication,
including being or having been a chief executive officer, chief financial officer or other senior officer with financial oversight responsibilities. A director who qualifies as an "audit committee
financial expert" under the rules of the Securities and Exchange Commission shall be presumed to qualify as a financially sophisticated audit committee member. No member of the Audit Committee shall
have participated in the preparation of the financial statements of the Company or any subsidiary at any time during the past three years. </FONT></P>

<P><FONT SIZE=2><B>RESPONSIBILITIES:  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The independent registered public accounting firm shall report directly to the Audit Committee. The responsibilities of the Audit Committee shall include: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Being
directly responsible for the appointment, compensation, retention and oversight of the work of the independent registered public accounting firm, including being
responsible for resolving any disagreements between management and the independent registered public accounting firm regarding financial reporting;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Reviewing
the independent registered public accounting firm' proposed audit scope, approach and independence, and approving all audit engagement fees and terms;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Providing
oversight and monitoring of Company management and its activities with respect to the Company's financial reporting process;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Approving
or preapproving all auditing services, internal control-related services, and permitted non-audit services to be provided to the Company by the
independent registered public accounting firm in accordance with Section&nbsp;10A(i)&nbsp;of the Exchange Act, subject to the de minimus exceptions for non-audit services described in
Section&nbsp;10A(i)(l)(B) of the Exchange Act which are approved by the Audit Committee prior to the completion of the audit; provided that the Audit Committee may delegate authority to
subcommittees consisting of one or more members when appropriate, including authority to grant pre-approvals of audit and permitted non-audit services, provided that the
decisions of such subcommittee to grant pre-approvals shall be presented to the Audit Committee at its next scheduled meeting; </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>A-1</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=38,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=556175,FOLIO='A-1',FILE='DISK015:[05DEN2.05DEN1552]DO1552A.;5',USER='DTAYLOR',CD='28-MAR-2005;08:34' -->
<A NAME="page_do1552_1_2"> </A>
<UL>
<UL>
</UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Ensuring
the regular rotation of the lead or coordinating audit partner, and of the audit partner responsible for reviewing the audit, as required by Section&nbsp;10A(j)
of the Exchange Act;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Ensuring
its receipt from the independent registered public accounting firm of a formal written statement delineating all relationships between the auditors and the Company,
consistent with Independent Standards Board Standard No.&nbsp;1, and actively engaging in a dialogue with the auditors with respect to any disclosed relationships or services that may impact the
objectivity or independence of the auditors, and taking, or recommending that the full Board take, appropriate action to oversee the independence of the independent registered public accounting firm;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Directing
the Company's independent registered public accounting firm to review before filing with the SEC the Company's interim financial statements included in Quarterly
Reports on Form&nbsp;10-Q, using professional standards and procedures for conducting such reviews;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Discussing
with the Company's independent registered public accounting firm the matters required to be discussed by Statement on Auditing Standards No.&nbsp;61, as it may
be modified or supplemented;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Reviewing
with management and the independent registered public accounting firm, before release, the audited financial statements and Management's Discussion and Analysis in
the Company's Annual Report on Form&nbsp;10-K, as well as the auditors' judgment about the quality, not just the acceptability, of the Company's accounting principles as applied in its
financial reporting, including the selection, application and disclosure of critical accounting policies;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Obtaining
and considering a report from the independent registered public accounting firm regarding: (1)&nbsp;all critical accounting policies and practices to be used;
(2)&nbsp;all alternative treatments of financial information within generally accepted accounting principles that have been discussed with management officials of the Company, ramifications of the
use of such alternative disclosures and treatments, and the treatment preferred by the independent registered public accounting firm; and (3)&nbsp;other material written communications between the
independent registered public accounting firm and Company management, such as any management letter or schedule of unadjusted differences;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Discussing
with the independent registered public accounting firm the auditors' conclusions regarding the reasonableness of the judgments and estimates made in the
preparation of the financial statements that may be viewed as critical, as well as the clarity of the Company's financial statement disclosures;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Reviewing
the CEO and CFO certifications under Sections 302 and 906 of the Sarbanes-Oxley Act and the Company's disclosures relating thereto;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Recommending
to the Board whether the financial statements should be included in the Company's Annual Report on Form&nbsp;10-K;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Providing
a report in the Company's proxy statement in accordance with the requirements of Item 306 of Regulation&nbsp;S-K and Item 7(e) (3)&nbsp;of
Schedule&nbsp;14A;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Causing
the Company to establish hiring practices for employees or former employees of the independent registered public accounting firm that are consistent with
Section&nbsp;10A(l) of the Exchange Act;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Reviewing
and approving any transaction that would require disclosure as a related party transaction pursuant to Item 404 of Regulation&nbsp;S-K;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Establishing
procedures for the receipt, retention and treatment of complaints received by the Company regarding accounting, internal accounting controls and auditing
matters, and the </FONT></DD></DL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>A-2</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=39,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=694452,FOLIO='A-2',FILE='DISK015:[05DEN2.05DEN1552]DO1552A.;5',USER='DTAYLOR',CD='28-MAR-2005;08:34' -->
<A NAME="page_do1552_1_3"> </A>
<UL>
<UL>

<P><FONT SIZE=2>confidential,
anonymous submission by employees of concerns regarding questionable accounting or auditing matters; </FONT></P>

</UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Reviewing
with management and the independent registered public accounting firm any correspondence with regulators and any published reports that raise material issues
regarding the Company's accounting policies;
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Reviewing
the Audit Committee's own structure, processes and membership requirements, reviewing and reassessing the adequacy of this Charter on an annual basis, and
recommending proposed changes to this Charter to the Board for approval; and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>Performing
such other duties as may be requested by the Board of Directors. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
carrying out its duties, the Audit Committee shall have full authority to engage, without further Board approval, independent legal, accounting and other advisors as the Audit
Committee may deem necessary. The Company shall provide appropriate funding, as determined by the Audit Committee, for the compensation of any such advisors and to pay any ordinary administrative
expenses of the Audit Committee that are necessary or appropriate in carrying out its duties. </FONT></P>

<P><FONT SIZE=2><B>MEETINGS:  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee will meet at least quarterly. The Audit Committee may establish its own schedule, which it will provide to the Board of Directors in advance. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Audit Committee will meet in executive session at least twice a year and will meet separately with the independent registered public accounting firm as well as members of the
Company's management as it deems appropriate in order to review the financial controls of the Company. </FONT></P>

<P><FONT SIZE=2><B>MINUTES:  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee will maintain written minutes of its meetings, which minutes will be filed with the minutes of the meetings of the Board of Directors. </FONT></P>

<P><FONT SIZE=2><B>REPORTS:  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apart from the report prepared pursuant to Item 306 of Regulation&nbsp;S-K and Item 7(e) (3)&nbsp;of Schedule&nbsp;14A, the Audit Committee will
summarize its examinations and recommendations to the Board from time to time as may be appropriate, consistent with the Committee's charter. </FONT></P>

<P><FONT SIZE=2><B>RELIANCE ON INFORMATION:  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In adopting this Audit Committee Charter, the Board of Directors acknowledges that the Audit Committee members are not employees of the Company and are not
providing any expert or special assurance as to the Company's financial statements or any professional certification as to the independent registered public accounting firm' work or auditing
standards. Each member of the Audit Committee shall be entitled to rely on the integrity of the persons and organizations within and without the Company that provide information to the Audit Committee
and the accuracy and completeness of the financial and other information provided to the Audit Committee by such persons or organizations absent actual knowledge that any such information is
inaccurate or incorrect. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>A-3</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=40,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=1005,FOLIO='A-3',FILE='DISK015:[05DEN2.05DEN1552]DO1552A.;5',USER='DTAYLOR',CD='28-MAR-2005;08:34' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_dq1552_1_1"> </A> </FONT></P>

<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="dq1552_appendix_b_overstock.co__dq101998"> </A>
<A NAME="toc_dq1552_1"> </A>
<BR></FONT><FONT SIZE=2><B>APPENDIX B    <BR>    <BR>    OVERSTOCK.COM,&nbsp;INC.<BR>  2005 EQUITY INCENTIVE PLAN    <BR>    </B></FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Purposes of the Plan.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The purposes of this 2005 Equity Incentive Plan are: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>to
attract and retain the best available personnel for positions of substantial responsibility,
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>to
provide additional incentive to Service Providers, and
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD><FONT SIZE=2>to
promote the success of the Company's business. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Awards
granted under the Plan may be Incentive Stock Options, Nonstatutory Stock Options, Restricted Stock, Stock Appreciation Rights, Performance Shares, Performance Units or Deferred
Stock Units, as determined by the Administrator at the time of grant. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Definitions.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;As used herein, the following definitions shall apply: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Administrator</I></FONT><FONT SIZE=2>" means the Board or any of its Committees that shall be administering the Plan, in accordance with
Section&nbsp;4 of the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Applicable Laws</I></FONT><FONT SIZE=2>" means the requirements relating to the administration of equity compensation plans under U.S. state
corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any foreign country or
jurisdiction where Awards are granted under the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Award</I></FONT><FONT SIZE=2>" means, individually or collectively, a grant under the Plan of Options, Restricted Stock, Stock Appreciation
Rights, Performance Shares, Performance Units or Deferred Stock Units. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Award Agreement</I></FONT><FONT SIZE=2>" means the written or electronic agreement setting forth the terms and provisions applicable to each
Award granted under the Plan. The Award Agreement is subject to the terms and conditions of the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Award Exchange Program</I></FONT><FONT SIZE=2>" means a program whereby outstanding Awards are surrendered or cancelled in exchange for Awards
(of the same or different type), which may have a lower exercise or purchase price, or in exchange for cash or a combination of cash and Awards. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Awarded Stock</I></FONT><FONT SIZE=2>" means the Common Stock subject to an Award. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Board</I></FONT><FONT SIZE=2>" means the Board of Directors of the Company. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Cash Position</I></FONT><FONT SIZE=2>" means the Company's level of cash and cash equivalents. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Cause</I></FONT><FONT SIZE=2>" means (i)&nbsp;an act of personal dishonesty taken by the Participant in connection with his or her
responsibilities as a Service Provider and intended to result in personal enrichment of the Participant, (ii)&nbsp;Participant being convicted of a felony, (iii)&nbsp;a willful act by the
Participant which constitutes gross misconduct and which is injurious to the Company, or (iv)&nbsp;following delivery to the Participant of a written demand for performance from the Company which
describes the basis for the Company's reasonable belief that the Participant has not substantially performed his duties, continued violations by the Participant of his or her obligations to the
Company which are demonstrably willful and deliberate on the Employee's part. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Change of Control</I></FONT><FONT SIZE=2>" means the occurrence of any of the following events: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;Any
"person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act), other than Patrick M. Byrne, Dorothy M. Byrne or John J. Byrne or an individual or
entity that directly, or indirectly through one or more intermediaries, controls, or is controlled </FONT></P>

</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>B-1</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=41,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=438776,FOLIO='B-1',FILE='DISK015:[05DEN2.05DEN1552]DQ1552A.;11',USER='MBRADT',CD='28-MAR-2005;12:22' -->
<A NAME="page_dq1552_1_2"> </A>
<UL>
<UL>

<P><FONT SIZE=2>by,
or is under common control with Patrick M. Byrne, Dorothy M. Byrne and/or John J. Byrne, becomes the "beneficial owner" (as defined in Rule&nbsp;13d-3 of the Exchange Act), directly
or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company's then outstanding voting securities; or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;The
consummation of the sale or disposition by the Company of all or substantially all of the Company's assets; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;A
change in the composition of the Board occurring within a one-year period, as a result of which fewer than a majority of the directors are Incumbent
Directors. "Incumbent Directors" means directors who either (A)&nbsp;are Directors as of the effective date of the Plan, or (B)&nbsp;are elected, or nominated for election, to the Board with the
affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but will not include an individual whose election or nomination is in connection with an
actual or threatened proxy contest relating to the election of directors to the Company); or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;The
consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting
securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its
parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or
consolidation. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Code</I></FONT><FONT SIZE=2>" means the Internal Revenue Code of 1986, as amended. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Committee</I></FONT><FONT SIZE=2>" means a committee of Directors appointed by the Board in accordance with Section&nbsp;4 of the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Common Stock</I></FONT><FONT SIZE=2>" means the common stock of the Company. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Company</I></FONT><FONT SIZE=2>" means Overstock.com,&nbsp;Inc. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Consultant</I></FONT><FONT SIZE=2>" means any natural person, including an advisor, engaged by the Company or a Parent or Subsidiary to render
services to such entity. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Deferred Stock Unit</I></FONT><FONT SIZE=2>" means a deferred stock unit Award granted to a Participant pursuant to Section&nbsp;14. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Director</I></FONT><FONT SIZE=2>" means a member of the Board. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Disability</I></FONT><FONT SIZE=2>" means total and permanent disability as defined in Section&nbsp;22(e)(3) of the Code. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Earnings Per Share</I></FONT><FONT SIZE=2>" means as to any Fiscal Year, the Company's or a business unit's Net Income, divided by a weighted
average number of common shares outstanding and dilutive common equivalent shares deemed outstanding, determined in accordance with generally accepted accounting principles. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)&nbsp;&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Employee</I></FONT><FONT SIZE=2>" means any person, including Officers and Directors, employed by the Company or any Parent or Subsidiary of the
Company. A Service Provider shall not cease to be an Employee in the case of (i)&nbsp;any leave of absence approved by the Company or (ii)&nbsp;transfers between locations of the Company or
between the Company, its Parent, any Subsidiary, or any successor. For purposes of Incentive Stock Options, no such leave may exceed ninety days, unless reemployment upon expiration of such leave is
guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, then three (3)&nbsp;months following the 91st day of such leave
any Incentive Stock Option held by the Participant </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>B-2</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=42,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=292869,FOLIO='B-2',FILE='DISK015:[05DEN2.05DEN1552]DQ1552A.;11',USER='MBRADT',CD='28-MAR-2005;12:22' -->
<A NAME="page_dq1552_1_3"> </A>
<UL>
<BR>

<P><FONT SIZE=2>shall
cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a Nonstatutory Stock Option. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Exchange Act</I></FONT><FONT SIZE=2>" means the Securities Exchange Act of 1934, as amended. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Expenses</I></FONT><FONT SIZE=2>" means as to any Performance Period, the Company's or business unit's incurred expenses. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w)&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Fair Market Value</I></FONT><FONT SIZE=2>" means, as of any date, the value of Common Stock determined as follows: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;If
the Common Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq National Market or The Nasdaq
SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system
on the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;If
the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share of Common Stock shall be
the mean between the high bid and low asked prices for the Common Stock on the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; or </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;In
the absence of an established market for the Common Stock, the Fair Market Value shall be determined in good faith by the Administrator. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Fiscal Year</I></FONT><FONT SIZE=2>" means a fiscal year of the Company. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Gross Margin</I></FONT><FONT SIZE=2>" means as to any Performance Period, the Company's Revenues less the related cost of Revenues expressed in
dollars or as a percentage of Revenues. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Incentive Stock Option</I></FONT><FONT SIZE=2>" means an Option intended to qualify as an incentive stock option within the meaning of
Section&nbsp;422 of the Code and the regulations promulgated thereunder. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa)&nbsp;"</FONT><FONT
SIZE=2><I>Individual Objectives</I></FONT><FONT SIZE=2>" means, as to any Participant for any Performance Period, the objective and measurable goals set
by a process and approved by the Administrator. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb)&nbsp;"</FONT><FONT
SIZE=2><I>Net Income</I></FONT><FONT SIZE=2>" means as to any Fiscal Year, the income after taxes of the Company for the Fiscal Year determined in
accordance with generally accepted accounting principles. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc)&nbsp;"</FONT><FONT
SIZE=2><I>Nonstatutory Stock Option</I></FONT><FONT SIZE=2>" means an Option not intended to qualify as an Incentive Stock Option. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd)&nbsp;"</FONT><FONT
SIZE=2><I>Notice of Grant</I></FONT><FONT SIZE=2>" means a written or electronic notice evidencing certain terms and conditions of an individual Award.
The Notice of Grant is part of the Option Agreement or Award Agreement. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee)&nbsp;"</FONT><FONT
SIZE=2><I>Officer</I></FONT><FONT SIZE=2>" means a person who is an officer of the Company within the meaning of Section&nbsp;16 of the Exchange Act
and the rules and regulations promulgated thereunder. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff)&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Operating Cash Flow</I></FONT><FONT SIZE=2>" means the Company's or a business unit's sum of Net Income plus depreciation and amortization less
capital expenditures plus changes in working capital comprised of accounts receivable, inventories, other current assets, trade accounts payable, accrued expenses, product warranty, advance payments
from customers and long-term accrued expenses, determined in accordance with generally acceptable accounting principles. </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>B-3</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=43,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=588192,FOLIO='B-3',FILE='DISK015:[05DEN2.05DEN1552]DQ1552A.;11',USER='MBRADT',CD='28-MAR-2005;12:22' -->
<A NAME="page_dq1552_1_4"> </A>
<UL>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg)&nbsp;"</FONT><FONT
SIZE=2><I>Operating Income</I></FONT><FONT SIZE=2>" means the Company's or a business unit's income from operations but excluding any unusual items,
determined in accordance with generally accepted accounting principles. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(hh)&nbsp;"</FONT><FONT
SIZE=2><I>Operating Margin</I></FONT><FONT SIZE=2>" means, as to any Performance Period, the Company's or a business unit's Operating Income divided by
Revenue, expressed as a percentage. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Option</I></FONT><FONT SIZE=2>" means a stock option granted pursuant to the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Option Agreement</I></FONT><FONT SIZE=2>" means a written or electronic agreement between the Company and a Participant evidencing the terms
and conditions of an individual Option grant. The Option Agreement is subject to the terms and conditions of the Plan. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(kk)&nbsp;"</FONT><FONT
SIZE=2><I>Parent</I></FONT><FONT SIZE=2>" means a "parent corporation", whether now or hereafter existing, as defined in Section&nbsp;424(e) of the
Code. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ll)&nbsp;&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Participant</I></FONT><FONT SIZE=2>" means the holder of an outstanding Award granted under the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(mm)&nbsp;"</FONT><FONT
SIZE=2><I>Performance Goals</I></FONT><FONT SIZE=2>" means the goal(s) (or combined goal(s)) determined by the Administrator (in its discretion) to be
applicable to a Participant with respect to an Award. As determined by the Administrator, the Performance Goals applicable to an Award may provide for a targeted level or levels of achievement using
one or more of the following measures: (a)&nbsp;Cash Position, (b)&nbsp;Earnings Per Share, (c)&nbsp;Expenses, (d)&nbsp;Gross Margin, (e)&nbsp;Individual Objectives, (f)&nbsp;Net Income,
(g)&nbsp;Operating Cash Flow, (h)&nbsp;Operating Income, (i)&nbsp;Operating Margin, (j)&nbsp;Return on Assets, (k)&nbsp;Return on Equity, (l)&nbsp;Return on
Sales, (m)&nbsp;Revenue, (n)&nbsp;Total Stockholder Return, and/or (o)&nbsp;Unit Sales. The Performance Goals may differ from Participant to Participant and from Award to Award. Any criteria
used may be measured, as applicable, (i)&nbsp;in absolute terms, (ii)&nbsp;in relative terms (including, but not limited to, passage of time and/or against another company or companies),
(iii)&nbsp;on a per-share basis, (iv)&nbsp;against the performance of the Company as a whole or of a business unit of the Company or by product or product line, (v)&nbsp;on a
pre-tax or after-tax basis, and/or on a GAAP or non-GAAP basis. Prior to the beginning of the applicable Performance Period, the Administrator shall determine
whether any significant element(s) shall be included or excluded from the calculation of any Performance Goal with respect to any Participants. For example, but not by way of limitation, the
Administrator may determine that the measures for one or more Performance Goals shall consist of non-GAAP variations of any of the foregoing measures. The Committee may set different goals
for Awards not intended to qualify for exemption from the limitations of Section&nbsp;162(m) of the Code. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(nn)&nbsp;"</FONT><FONT
SIZE=2><I>Performance Period</I></FONT><FONT SIZE=2>" means any Fiscal Year or such other period as determined by the Administrator in its sole
discretion. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(oo)&nbsp;"</FONT><FONT
SIZE=2><I>Performance Share</I></FONT><FONT SIZE=2>" means a performance share Award granted to a Participant pursuant to Section&nbsp;12. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(pp)&nbsp;"</FONT><FONT
SIZE=2><I>Performance Unit</I></FONT><FONT SIZE=2>" means a performance unit Award granted to a Participant pursuant to Section&nbsp;13. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(qq)&nbsp;"</FONT><FONT
SIZE=2><I>Plan</I></FONT><FONT SIZE=2>" means this 2005 Equity Incentive Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(rr)&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Restricted Stock</I></FONT><FONT SIZE=2>" means Shares granted pursuant to Section&nbsp;11 of the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ss)&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Return on Assets</I></FONT><FONT SIZE=2>" means the percentage equal to the Company's or a business unit's Operating Income before incentive
compensation, divided by average net Company or business unit, as applicable, assets, determined in accordance with generally accepted accounting principles. </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>B-4</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=44,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=658438,FOLIO='B-4',FILE='DISK015:[05DEN2.05DEN1552]DQ1552A.;11',USER='MBRADT',CD='28-MAR-2005;12:22' -->
<A NAME="page_dq1552_1_5"> </A>
<UL>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(tt)&nbsp;&nbsp;"</FONT><FONT
SIZE=2><I>Return on Equity</I></FONT><FONT SIZE=2>" means the percentage equal to the Company's Net Income divided by average stockholder's equity,
determined in accordance with generally accepted accounting principles. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(uu)&nbsp;"</FONT><FONT
SIZE=2><I>Return on Sales</I></FONT><FONT SIZE=2>" means the percentage equal to the Company's or a business unit's Operating Income before incentive
compensation, divided by the Company's or the business unit's, as applicable, revenue, determined in accordance with generally accepted accounting principles. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vv)&nbsp;"</FONT><FONT
SIZE=2><I>Revenue</I></FONT><FONT SIZE=2>" means, as to any Performance Period, the Company's or a business unit's gross revenues, net sales or gross
sales, as determined by the Administrator. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ww)&nbsp;"</FONT><FONT
SIZE=2><I>Rule&nbsp;16b-3</I></FONT><FONT SIZE=2>" means Rule&nbsp;16b-3 of the Exchange Act or any successor to
Rule&nbsp;16b-3, as in effect when discretion is being exercised with respect to the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx)&nbsp;"</FONT><FONT
SIZE=2><I>Section&nbsp;16(b)</I></FONT><FONT SIZE=2>" means Section&nbsp;16(b) of the Exchange Act. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(yy)&nbsp;"</FONT><FONT
SIZE=2><I>Service Provider</I></FONT><FONT SIZE=2>" means an Employee, Director or Consultant. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(zz)&nbsp;"</FONT><FONT
SIZE=2><I>Share</I></FONT><FONT SIZE=2>" means a share of the Common Stock, as adjusted in accordance with Section&nbsp;16 of the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aaa)&nbsp;"</FONT><FONT
SIZE=2><I>Stock Appreciation Right</I></FONT><FONT SIZE=2>" or "</FONT><FONT SIZE=2><I>SAR</I></FONT><FONT SIZE=2>" means an Award granted pursuant to
Section&nbsp;10 hereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bbb)&nbsp;"</FONT><FONT
SIZE=2><I>Subsidiary</I></FONT><FONT SIZE=2>" means a "subsidiary corporation", whether now or hereafter existing, as defined in Section&nbsp;424(f)
of the Code. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ccc)&nbsp;"</FONT><FONT
SIZE=2><I>Total Stockholder Return</I></FONT><FONT SIZE=2>" means the total return (change in share price plus reinvestment of any dividends) of a
Share. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ddd)&nbsp;"</FONT><FONT
SIZE=2><I>Unit Sales</I></FONT><FONT SIZE=2>" means, as to any Performance Period, gross or net sales of units, consisting of any merchandise or type or
category of merchandise or other product or service sold by the Company at any time, now or hereafter, as determined and specified by the Administrator. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(eee)&nbsp;"</FONT><FONT
SIZE=2><I>Voluntary Termination for Good Reason</I></FONT><FONT SIZE=2>" means the Participant voluntarily resigns within ninety (90)&nbsp;days after
the occurrence of any of the following (i)&nbsp;without the Participant's express written consent, a material reduction of the Participant's duties, title, authority or responsibilities, relative to
the Participant's duties, title, authority or responsibilities as in effect immediately prior to such reduction, or the assignment to Participant of such reduced duties, title, authority or
responsibilities;
provided, however, that a reduction in duties, title, authority or responsibilities solely by virtue of the Company being acquired and made part of a larger entity (as, for example, when the Chief
Executive Officer of the Company remains as such following a Change of Control and is not made the Chief Executive Officer of the acquiring corporation) shall not by itself constitute grounds for a
"Voluntary Termination for Good Reason;" (ii)&nbsp;a reduction by the Company in the base salary of the Participant as in effect immediately prior to such reduction; (iii)&nbsp;the relocation of
the Participant to a facility or a location outside of a 35 mile radius from the present facility or location, without the Participant's express written consent; or (iv)&nbsp;any act or set of facts
or circumstances which would, under applicable case law or statute constitute a constructive termination of the Participant. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Stock Subject to the Plan.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of Section&nbsp;16 of the Plan, the maximum aggregate
number of Shares which may be issued under the Plan is 1,184,158 Shares (consisting of the Shares remaining available for grant under the Company's 2002 Stock Option Plan, as amended (the "2002 Plan")
as of December&nbsp;31, 2004), less Shares covered by any grants made under the 2002 Plan after December&nbsp;31, 2004, plus any Shares returned to the 2002 Plan after December&nbsp;31, 2004,
plus (a)&nbsp;any Shares which have been reserved but not issued under the Company's 1999 Stock Option Plan (the "1999 Plan") or the Gear.com, Inc. Restated 1998 Stock Option Plan (the "Gear.com
Plan") and </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>B-5</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=45,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=313130,FOLIO='B-5',FILE='DISK015:[05DEN2.05DEN1552]DQ1552A.;11',USER='MBRADT',CD='28-MAR-2005;12:22' -->
<A NAME="page_dq1552_1_6"> </A>

<P><FONT SIZE=2>(b)&nbsp;any
Shares returned to the 1999 Plan or the 2002 Plan or the Gear.com Plan as a result of termination of options or repurchase of Shares issued under the 1999 Plan or the 2002 Plan or the
Gear.com Plan. The Shares may be authorized, but unissued, or reacquired Common Stock. Regardless of the number of Shares returned to the 1999 Plan or the 2002 Plan or the Gear.com Plan, the maximum
aggregate number of Shares that may be issued under the Plan is 3,000,000. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
an Award expires or becomes unexercisable without having been exercised in full, or is surrendered pursuant to an Award Exchange Program, or, with respect to Restricted Stock,
Performance Shares, Performance Units or Deferred Stock Units, is forfeited to or repurchased by the Company, the unpurchased Shares (or for Awards other than Options and SARs, the forfeited or
repurchased shares) which were subject thereto shall become available for future grant or sale under the Plan (unless the Plan has terminated). With respect to SARs, only shares actually issued
pursuant to an SAR shall cease to be available under the Plan; all remaining shares under SARs shall remain available for future grant or sale under the Plan (unless the Plan has terminated). However,
Shares that have actually been issued under the Plan under any Award shall not be returned to the Plan and shall not become available for future distribution under the Plan; provided, however, that if
Shares of Restricted Stock, Performance Shares, Performance Units or Deferred Stock Units are repurchased by the Company at their original purchase price or are forfeited to the Company, such Shares
shall become available for future grant under the Plan. Shares used to pay the exercise price of an Option or Stock Purchase Right shall become available for future grant or sale under the Plan. To
the extent an Award under the Plan is paid out in cash rather than stock, such cash payment shall not result in a reduction to the number of Shares available for issuance under the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Administration of the Plan.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Procedure.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Multiple Administrative Bodies.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Plan may be administered by different Committees with respect to
different groups of Service Providers. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;162(m).</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;To the extent that the Administrator determines it to be desirable to qualify
Options or other Awards granted hereunder as "performance-based compensation" within the meaning of Section&nbsp;162(m) of the Code, the Plan shall be administered by a Committee of two or more
"outside directors" within the meaning of Section&nbsp;162(m) of the Code. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Rule&nbsp;16b-3.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;To the extent desirable to qualify transactions hereunder as exempt under
Rule&nbsp;16b-3, the transactions contemplated hereunder shall be structured to satisfy the requirements for exemption under Rule&nbsp;16b-3. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Other Administration.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Other than as provided above, the Plan shall be administered by (A)&nbsp;the Board
or (B)&nbsp;a Committee, which committee shall be constituted to satisfy Applicable Laws. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Powers of the Administrator.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to the provisions of the Plan, and in the case of a Committee, subject
to the specific duties delegated by the Board to such Committee, the Administrator shall have the authority, in its discretion: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;to
determine the Fair Market Value; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;to
select the Service Providers to whom Awards may be granted hereunder; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;to
determine whether and to what extent Awards or any combination thereof, are granted hereunder; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;to
determine the number of shares of Common Stock or equivalent units to be covered by each Award granted hereunder; </FONT></P>

</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>B-6</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=46,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=883748,FOLIO='B-6',FILE='DISK015:[05DEN2.05DEN1552]DQ1552A.;11',USER='MBRADT',CD='28-MAR-2005;12:22' -->
<A NAME="page_dq1552_1_7"> </A>
<UL>
<UL>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;to
approve forms of agreement for use under the Plan; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;to
reduce the exercise price of an Award to the then current Fair Market Value if the Fair Market Value of the Common Stock covered by such Award shall have declined
since the date the Award was granted; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;to
institute an Award Exchange Program; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;&nbsp;to
determine the terms and conditions, not inconsistent with the terms of the Plan, of any Award granted hereunder. Such terms and conditions include, but are not
limited to, the exercise price, the time or times when Options or SARs may be exercised or other Awards vest (which may be based on performance criteria), any vesting acceleration or waiver of
forfeiture restrictions, and any restriction or limitation regarding any Award or the shares of Common Stock relating thereto, based in each case on such factors as the Administrator, in its sole
discretion, shall determine; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;&nbsp;to
construe and interpret the terms of the Plan and Awards; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;&nbsp;to
prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans established for the purpose
of qualifying for preferred tax treatment under foreign tax laws; </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)&nbsp;&nbsp;to
modify or amend each Award (subject to Section&nbsp;18(c) of the Plan), including the discretionary authority to extend the post-service-termination
exercisability period of Options and SARs longer than is otherwise provided for in the Plan; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii)&nbsp;&nbsp;to
authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Award previously granted by the Administrator; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii)&nbsp;&nbsp;to
allow Participants to satisfy withholding tax obligations by electing to have the Company withhold from the Shares or cash to be issued upon exercise or vesting of
an Award (or distribution of a Deferred Stock Unit) that number of Shares or cash having a Fair Market Value equal to the minimum amount required to be withheld (but no more). The Fair Market Value of
any Shares to be withheld shall be determined on the date that the amount of tax to be withheld is to be determined. All elections by a Participant to have Shares or cash withheld for this purpose
shall be made in such form and under such conditions as the Administrator may deem necessary or advisable; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)&nbsp;&nbsp;to
determine the terms and restrictions applicable to Awards; and </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv)&nbsp;&nbsp;to
make all other determinations deemed necessary or advisable for administering the Plan. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Effect of Administrator's Decision.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Administrator's decisions, determinations and interpretations shall
be final and binding on all Participants and any other holders of Awards. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Eligibility.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock, Performance Shares, Performance Units, Stock Appreciation Rights, Deferred
Stock Units and Nonstatutory Stock Options may be granted to Service Providers. Incentive Stock Options may be granted only to Employees. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;No Employment Rights.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Neither the Plan nor any Award shall confer upon a Participant any right with respect
to continuing the Participant's employment with the Company or its Subsidiaries, nor shall they interfere in any way with the Participant's right or the Company's or Subsidiary's right, as the case
may be, to terminate such employment at any time, with or without cause. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>B-7</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=47,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=1026198,FOLIO='B-7',FILE='DISK015:[05DEN2.05DEN1552]DQ1552A.;11',USER='MBRADT',CD='28-MAR-2005;12:22' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->

<P><FONT SIZE=2><A
NAME="page_ds1552_1_8"> </A> </FONT> <FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.</FONT><FONT SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Code Section&nbsp;162(m) Provisions.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Option and SAR Annual Share Limit.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;No Participant shall be granted, in any Fiscal Year, Options and Stock
Appreciation Rights to purchase more than 423,430 Shares; provided, however, that such limit shall be 846,860 Shares in the Participant's first Fiscal Year of Company service. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock and Performance Share Annual Limit.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;No Participant shall be granted, in any Fiscal Year,
more than 211,715 Shares of Restricted Stock or Performance Shares; provided, however, that such limit shall be 635,145 Shares in the Participant's first Fiscal Year of Company service. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Performance Units Annual Limit.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;No Participant shall receive Performance Units, in any Fiscal Year, having
an initial value greater than $1,000,000, provided, however, that such limit shall be $3,000,000 in the Participant's first Fiscal Year of Company service. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;162(m) Performance Restrictions.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;For purposes of qualifying grants of Restricted Stock,
Performance Shares or Performance Units as "performance-based compensation" under Section&nbsp;162(m) of the Code, the Administrator, in its discretion, may set restrictions based upon the
achievement of Performance Goals. The Performance Goals shall be set by the Administrator on or before the latest date permissible to enable the Restricted Stock, Performance Shares or Performance
Units to qualify as "performance-based compensation" under Section&nbsp;162(m) of the Code. In granting Restricted Stock, Performance Shares or Performance Units which are intended to qualify under
Section&nbsp;162(m) of the Code, the Administrator shall follow any procedures determined by it from time to time to be necessary or appropriate to ensure qualification of the Award under
Section&nbsp;162(m) of the Code (e.g., in determining the Performance Goals). </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Changes in Capitalization.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The numerical limitations in Sections 7(a) and (b)&nbsp;shall be adjusted
proportionately in connection with any change in the Company's capitalization as described in Section&nbsp;16(a). </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;If
an Award is cancelled in the same Fiscal Year in which it was granted (other than in connection with a transaction described in Section&nbsp;16), the cancelled
Award will be counted against the limits set forth in subsections (a)&nbsp;and (b)&nbsp;above. For this purpose, if the exercise price of an Award is reduced, the transaction will be treated as a
cancellation of the Award and the grant of a new Award. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Term of Plan.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Plan shall continue in effect for a term of ten (10)&nbsp;years following the date upon
which the Board approved the Plan in 2005. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Stock Options.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Term.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The term of each Option shall be stated in the Notice of Grant; provided, however, that the term shall
be ten (10)&nbsp;years from the date of grant or such shorter term as may be provided in the Notice of Grant. Moreover, in the case of an Incentive Stock Option granted to a Participant who, at the
time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or Subsidiary, the term of the
Incentive Stock Option shall be five (5)&nbsp;years from the date of grant or such shorter term as may be provided in the Notice of Grant. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Option Exercise Price.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The per share exercise price for the Shares to be issued pursuant to exercise of an
Option shall be determined by the Administrator, subject to the following: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;In
the case of an Incentive Stock Option: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;granted
to an Employee who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the voting power of all classes of </FONT></P>

</UL>
</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>B-8</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=48,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=221220,FOLIO='B-8',FILE='DISK015:[05DEN2.05DEN1552]DS1552A.;8',USER='DTAYLOR',CD='28-MAR-2005;08:34' -->
<A NAME="page_ds1552_1_9"> </A>
<UL>
<UL>
<UL>

<P><FONT SIZE=2>stock
of the Company or any Parent or Subsidiary, the per Share exercise price shall be no less than 110% of the Fair Market Value per Share on the date of grant. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;granted
to any Employee other than an Employee described in paragraph&nbsp;(A) immediately above, the per Share exercise price shall be no less than 100% of the Fair
Market Value per Share on the date of grant. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;In
the case of a Nonstatutory Stock Option, the per Share exercise price shall be determined by the Administrator. In the case of a Nonstatutory Stock Option intended
to qualify as "performance-based compensation" within the meaning of Section&nbsp;162(m) of the Code, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on
the date of grant. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;Notwithstanding
the foregoing, Options may be granted with a per Share exercise price of less than 100% of the Fair Market Value per Share on the date of grant
pursuant to a merger or other corporate transaction. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Waiting Period and Exercise Dates.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;At the time an Option is granted, the Administrator shall fix the period
within which the Option may be exercised and shall determine any conditions which must be satisfied before the Option may be exercised. In so doing, the Administrator may specify that an Option may
not be exercised until the completion of a service period or until performance milestones are satisfied. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Form of Consideration.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Administrator shall determine the acceptable form of consideration for exercising
an Option, including the method of payment. In the case of an Incentive Stock Option, the Administrator shall determine the acceptable form of consideration at the time of grant. Subject to Applicable
Laws, such consideration may consist entirely of: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;cash;
</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;check;
</FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;other
Shares which (A)&nbsp;in the case of Shares acquired upon exercise of an option, have been owned by the Participant for more than six months on the date of
surrender, and (B)&nbsp;have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which said Option shall be exercised; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;delivery
of a properly executed exercise notice together with such other documentation as the Administrator and the broker, if applicable, shall require to effect an
exercise of the Option and delivery to the Company of the sale proceeds required to pay the exercise price; </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;such
other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws, including, to the extent permitted by Applicable
Laws and approved by the Administrator, delivery of a promissory note, consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan,
or a reduction in the amount of any Company liability to the Participant; or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;any
combination of the foregoing methods of payment. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Exercise of Option; Rights as a Stockholder.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Any Option granted hereunder shall be exercisable according to
the terms of the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Option Agreement. An Option may not be exercised for a fraction of a Share. An
Option shall be deemed exercised when the Company receives: (i)&nbsp;written or electronic notice of exercise (in accordance with the Option Agreement) from the person entitled to exercise the
Option, and (ii)&nbsp;full payment for the Shares with respect to which the Option is exercised. Full payment may consist of any consideration and method of </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>B-9</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=49,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=262932,FOLIO='B-9',FILE='DISK015:[05DEN2.05DEN1552]DS1552A.;8',USER='DTAYLOR',CD='28-MAR-2005;08:34' -->
<A NAME="page_ds1552_1_10"> </A>
<UL>

<P><FONT SIZE=2>payment
authorized by the Administrator and permitted by the Option Agreement and the Plan. Shares issued upon exercise of an Option shall be issued in the name of the Participant or, if requested by
the Participant, in the name of the Participant and his or her spouse. Until the stock certificate evidencing such Shares is issued (as evidenced by the appropriate entry on the books of the Company
or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the optioned stock, notwithstanding the
exercise of the Option. The Company shall issue (or cause to be issued) such stock certificate promptly after the Option is exercised. No adjustment will be made for a dividend or other right for
which the record date is prior to the date the stock certificate is issued, except as provided in Section&nbsp;16 of the Plan. Exercising an Option in any manner shall decrease the number of Shares
thereafter available for sale under the Option, by the number of Shares as to which the Option is exercised. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Termination of Relationship as a Service Provider.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If a Participant ceases to be a Service Provider, other
than upon the Participant's death or Disability, the Participant may exercise his or her Option within such period of time as is specified in the Option Agreement to the extent that the Option is
vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in the Option
Agreement, the Option shall remain exercisable for three months following the Participant's termination. If, on the date of termination, the Participant is not vested as to his or her entire Option,
the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Participant does not exercise his or her Option within the time specified by the
Administrator, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Disability.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If a Participant ceases to be a Service Provider as a result of the Participant's Disability,
the Participant may exercise his or her Option within such period of time as is specified in the Option Agreement to the extent the Option is vested on the date of termination (but in no event later
than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve
(12)&nbsp;months following the Participant's termination. If, on the date of termination, the Participant is not vested as to his or her entire Option, the Shares covered by the unvested portion of
the Option shall revert to the Plan. If, after termination, the Participant does not exercise his or her Option within the time specified herein, the Option shall terminate, and the Shares covered by
such Option shall revert to the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Death of Participant.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If a Participant dies while a Service Provider, the Option may be exercised following
the Participant's death within such period of time as is specified in the Option Agreement to the extent that the Option is vested on the date of death (but in no event may the option be exercised
later than the expiration of the term of such Option as set forth in the Option Agreement), by the Participant's designated beneficiary, provided such beneficiary has been designated prior to
Participant's death in a form acceptable to the Administrator. If no such beneficiary has been designated by the Participant, then such Option may be exercised by the personal representative of the
Participant's estate or by the person(s) to whom the Option is transferred pursuant to the Participant's will or in accordance with the laws of descent and distribution. In the absence of a specified
time in the Option Agreement, the Option shall remain exercisable for twelve (12)&nbsp;months following Participant's death. If, at the time of death, the Participant is not vested as to his or her
entire Option, the Shares covered by the unvested portion of the Option shall immediately revert to the Plan. If the Option is not so exercised within the time specified herein, the Option shall
terminate, and the Shares covered by such Option shall revert to the Plan. </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>B-10</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=50,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=618162,FOLIO='B-10',FILE='DISK015:[05DEN2.05DEN1552]DS1552A.;8',USER='DTAYLOR',CD='28-MAR-2005;08:34' -->
<A NAME="page_ds1552_1_11"> </A>
<UL>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;ISO $100,000 Rule.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each Option shall be designated in the Notice of Grant as either an Incentive Stock
Option or a Nonstatutory Stock Option. However, notwithstanding such designations, to the extent that the aggregate Fair Market Value: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;of
Shares subject to a Participant's Incentive Stock Options granted by the Company, any Parent or Subsidiary, which </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;become
exercisable for the first time during any calendar year (under all plans of the Company or any Parent or Subsidiary) exceeds $100,000, such excess Options shall
be treated as Nonstatutory Stock Options. For purposes of this Section&nbsp;9(j), Incentive Stock Options shall be taken into account in the order in which they were granted, and the Fair Market
Value of the Shares shall be determined as of the time of grant. </FONT></P>

</UL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Stock Appreciation Rights.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Grant of SARs.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions of the Plan, SARs may be granted to Participants at any
time and from time to time as shall be determined by the Administrator, in its sole discretion. The Administrator shall have complete discretion to determine the number of SARs granted to any
Participant. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Exercise Price and other Terms.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section&nbsp;7(a) of the Plan, the Administrator, subject to
the provisions of the Plan, shall have complete discretion to determine the terms and conditions of SARs
granted under the Plan; provided, however, that no SAR may have a term of more than ten (10)&nbsp;years from the date of grant. The exercise price for the Shares or cash to be issued pursuant to an
already granted SAR may not be changed without the consent of the Company's stockholders. This shall include, without limitation, a repricing of the SAR as well as an SAR exchange program whereby the
Participant agrees to cancel an existing SAR in exchange for an Option, SAR or other Award. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Payment of SAR Amount.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Upon exercise of a SAR, a Participant shall be entitled to receive payment from the
Company in an amount determined by multiplying: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;The
difference between the Fair Market Value of a Share on the date of exercise over the exercise price; times </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;the
number of Shares with respect to which the SAR is exercised. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Payment upon Exercise of SAR.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;At the discretion of the Administrator, payment for a SAR may be in cash,
Shares or a combination thereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;SAR Agreement.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each SAR grant shall be evidenced by an Award Agreement that shall specify the exercise
price, the term of the SAR, the conditions of exercise, and such other terms and conditions as the Administrator, in its sole discretion, shall determine. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Expiration of SARs.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;A SAR granted under the Plan shall expire upon the date determined by the Administrator,
in its sole discretion, and set forth in the Award Agreement. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Termination of Relationship as a Service Provider.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If a Participant ceases to be a Service Provider, other
than upon the Participant's death or Disability termination, the Participant may exercise his or her SAR within such period of time as is specified in the Award Agreement to the extent that the SAR is
vested on the date of termination (but in no event later than the expiration of the term of such SAR as set forth in the SAR Agreement). In the absence of a specified time in the Award Agreement, the
SAR shall remain exercisable for three months following the Participant's termination. If, on the date of termination, the Participant is not vested as to his or her entire SAR, the Shares covered by
the unvested portion of the SAR shall revert to the Plan. If, after termination, the Participant does not exercise his or her SAR within the time specified by the </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>B-11</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=4,SEQ=51,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=252888,FOLIO='B-11',FILE='DISK015:[05DEN2.05DEN1552]DS1552A.;8',USER='DTAYLOR',CD='28-MAR-2005;08:34' -->
<A NAME="page_ds1552_1_12"> </A>
<UL>
<BR>

<P><FONT SIZE=2>Administrator,
the SAR shall terminate, and the Shares covered by such SAR shall revert to the Plan. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Disability.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If a Participant ceases to be a Service Provider as a result of the Participant's Disability,
the Participant may exercise his or her SAR within such period of time as is specified in the Award Agreement to the extent the SAR is vested on the date of termination (but in no event later than the
expiration of the term of such SAR as set forth in the Award Agreement). In the absence of a specified time in the Award Agreement, the SAR shall remain exercisable for twelve (12)&nbsp;months
following the Participant's termination. If, on the date of termination, the Participant is not vested as to his or her entire SAR, the Shares covered by the unvested portion of the SAR shall revert
to the Plan. If, after termination, the Participant does not exercise his or her SAR within the time specified herein, the SAR shall terminate, and the Shares covered by such SAR shall revert to the
Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Death of Participant.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If a Participant dies while a Service Provider, the SAR may be exercised following the
Participant's death within such period of time as is specified in the Award Agreement (but in no event may the SAR be exercised later than the expiration of the term of such SAR as set forth in the
Award Agreement), by the Participant's designated beneficiary, provided such beneficiary has been designated prior to Participant's death in a form acceptable to the Administrator. If no such
beneficiary has been designated by the Participant, then such SAR may be exercised by the personal representative of the Participant's estate or by the person(s) to whom the SAR is transferred
pursuant to the Participant's will or in accordance with the laws of descent and distribution. In the absence of a specified time in the SAR Agreement, the SAR shall remain exercisable for twelve
(12)&nbsp;months following Participant's death. If the SAR is not so exercised within the time specified herein, the SAR shall terminate, and the Shares covered by such SAR shall revert to the Plan. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Grant of Restricted Stock.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions of the Plan, Restricted Stock may be granted
to Participants at any time as shall be determined by the Administrator, in its sole discretion. Subject to Section&nbsp;7(b) hereof, the Administrator shall have complete discretion to determine
(i)&nbsp;the number of Shares subject to a Restricted Stock award granted to any Participant, and (ii)&nbsp;the conditions that must be satisfied, which may include a performance-based component,
upon which is conditioned the grant, vesting or issuance of Restricted Stock. Restricted Stock shall be granted in the form of units to acquire Shares. Each such unit shall be the equivalent of one
Share for purposes of determining the number of Shares subject to an Award. Restricted Stock may be granted in the form of restricted stock units that are not issued until the vesting conditions are
satisfied. Until the Shares are issued, no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the units to acquire Shares. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Other Terms.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Administrator, subject to the provisions of the Plan, shall have complete discretion to
determine the terms and conditions of Restricted Stock granted under the Plan. Restricted Stock grants shall be subject to the terms, conditions, and restrictions determined by the Administrator at
the time the stock or the restricted stock unit is awarded. The Administrator may require the recipient to sign an Award Agreement as a condition of the award. Any certificates representing the Shares
of stock awarded shall bear such legends as shall be determined by the Administrator. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock Award Agreement.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each Restricted Stock grant shall be evidenced by an Award Agreement that
shall specify the purchase price (if any) and such other terms and conditions as the Administrator, in its sole discretion, shall determine; provided; however, that if </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>B-12</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=5,SEQ=52,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=637956,FOLIO='B-12',FILE='DISK015:[05DEN2.05DEN1552]DS1552A.;8',USER='DTAYLOR',CD='28-MAR-2005;08:34' -->
<A NAME="page_ds1552_1_13"> </A>
<UL>
<BR>

<P><FONT SIZE=2>the
Restricted Stock grant has a purchase price, such purchase price must be paid no more than ten (10)&nbsp;years following the date of grant. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Performance Shares.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Grant of Performance Shares.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions of the Plan, Performance Shares may be
granted to Participants at any time as shall be determined by the Administrator, in its sole discretion. Subject to Section&nbsp;7(b) hereof, the Administrator shall have complete discretion to
determine (i)&nbsp;the number of Shares subject to a Performance Share award granted to any Participant, and (ii)&nbsp;the conditions that must be satisfied, which typically will be based
principally or solely on achievement of performance milestones but may include a service-based component, upon which is conditioned the grant or vesting of Performance Shares. Performance Shares shall
be granted in the form of units to acquire Shares. Each such unit shall be the equivalent of one Share for purposes of determining the number of Shares subject to an Award. Until the Shares are
issued, no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the units to acquire Shares. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Other Terms.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Administrator, subject to the provisions of the Plan, shall have complete discretion to
determine the terms and conditions of Performance Shares granted under the Plan. Performance Share grants shall be subject to the terms, conditions, and restrictions determined by the Administrator at
the time the stock is awarded, which may include such performance-based milestones as are determined appropriate by the Administrator. The Administrator may require the recipient to sign an Award
Agreement as a condition of the award. Any certificates representing the Shares of stock awarded shall bear such legends as shall be determined by the Administrator. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Performance Share Award Agreement.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each Performance Share grant shall be evidenced by an Award Agreement
that shall specify such other terms and conditions as the Administrator, in its sole discretion, shall determine. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Performance Units.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Grant of Performance Units.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Performance Units are similar to Performance Shares, except that they shall be
settled in a cash equivalent to the Fair Market Value of the underlying Shares, determined as of the vesting date. Subject to the terms and conditions of the Plan, Performance Units may be granted to
Participants at any time and from time to time as shall be determined by the Administrator, in its
sole discretion. The Administrator shall have complete discretion to determine the conditions that must be satisfied, which typically will be based principally or solely on achievement of performance
milestones but may include a service-based component, upon which is conditioned the grant or vesting of Performance Units. Performance Units shall be granted in the form of units to acquire Shares.
Each such unit shall be the cash equivalent of one Share of Common Stock. No right to vote or receive dividends or any other rights as a stockholder shall exist with respect to Performance Units or
the cash payable thereunder. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Number of Performance Units.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Subject to Section&nbsp;7(c) hereof, the Administrator will have complete
discretion in determining the number of Performance Units granted to any Participant. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Other Terms.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Administrator, subject to the provisions of the Plan, shall have complete discretion to
determine the terms and conditions of Performance Units granted under the Plan. Performance Unit grants shall be subject to the terms, conditions, and restrictions determined by the Administrator at
the time the grant is awarded, which may include such performance-based milestones as are determined appropriate by the Administrator. The Administrator may require the recipient to sign an Award
Agreement as a condition of the award. </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>B-13</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=53,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=420249,FOLIO='B-13',FILE='DISK015:[05DEN2.05DEN1552]DS1552A.;8',USER='DTAYLOR',CD='28-MAR-2005;08:34' -->
<A NAME="page_ds1552_1_14"> </A>
<UL>
<BR>

<P><FONT SIZE=2>Any
certificates representing the units awarded shall bear such legends as shall be determined by the Administrator. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Performance Unit Award Agreement.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each Performance Unit grant shall be evidenced by an Award Agreement that
shall specify such terms and conditions as the Administrator, in its sole discretion, shall determine. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Deferred Stock Units.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Description.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Deferred Stock Units shall consist of a Restricted Stock, Performance Share or Performance Unit
Award that the Administrator, in its sole discretion permits to be paid out in installments or on a deferred basis, in accordance with rules and procedures established by the Administrator. Deferred
Stock Units shall remain subject to the claims of the Company's general creditors until distributed to the Participant. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;162(m) Limits.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Deferred Stock Units shall be subject to the annual 162(m) limits applicable to the
underlying Restricted Stock, Performance Share or Performance Unit Award as set forth in Section&nbsp;7 hereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;409A Limitations.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If the Deferred Stock Units are considered to be deferred compensation under Code
Section&nbsp;409A, then the terms of such Deferred Stock Units shall comply with Code Section&nbsp;409A. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Non-Transferability of Awards.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Unless determined otherwise by the Administrator, an Award may
not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the
recipient, only by the recipient. If the Administrator makes an Award transferable, such Award shall contain such additional terms and conditions as the Administrator deems appropriate. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Adjustments Upon Changes in Capitalization, Dissolution or Liquidation or Change of Control.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Changes in Capitalization.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In the event that any dividend or other distribution (whether in the form of
cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination,
repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares such that an adjustment is determined by the
Administrator (in its sole discretion) to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the
Administrator shall, in such manner as it may deem equitable, adjust the number and class of Shares which may be delivered under the Plan, the number, class, and price of Shares covered by each
outstanding Award, and the relevant numerical Share limits herein. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Dissolution or Liquidation.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In the event of the proposed dissolution or liquidation of the Company, the
Administrator shall notify each Participant as soon as practicable prior to the effective date of such proposed transaction. The Administrator in its discretion may provide for a Participant to have
the right to exercise his or her Option or SAR until ten (10)&nbsp;days prior to such transaction as to all of the Awarded Stock covered thereby, including Shares as to which the Award would not
otherwise be exercisable. In addition, the Administrator may provide that any Company repurchase option or forfeiture rights applicable to any Award shall lapse 100%, and that any Award vesting shall
accelerate 100%, provided the proposed dissolution or liquidation takes place at the time and in the manner contemplated. To the extent it has not been previously exercised (with respect to Options
and SARs) or vested (with respect to other Awards), an Award will terminate immediately prior to the consummation of such proposed action. </FONT></P>

</UL>
<P ALIGN="CENTER"><FONT SIZE=2>B-14</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=7,SEQ=54,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=168569,FOLIO='B-14',FILE='DISK015:[05DEN2.05DEN1552]DS1552A.;8',USER='DTAYLOR',CD='28-MAR-2005;08:34' -->
<A NAME="page_ds1552_1_15"> </A>
<UL>
<BR>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Change of Control.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Stock Options and SARs.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In the event of a merger of the Company with or into another corporation, or a
Change of Control, each outstanding Option and SAR shall be assumed or an equivalent option or SAR substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In
the event that the successor corporation refuses to assume or substitute for the Option or SAR, the Participant shall fully vest in and have the right to exercise the Option or SAR as to all of the
Awarded Stock, including Shares as to which it would not otherwise be vested or exercisable. If an Option or SAR becomes fully vested and exercisable in lieu of assumption or substitution in the event
of a merger or sale of assets or Change of Control, the Administrator shall notify the Participant in writing or electronically that the Option or SAR shall be fully vested and exercisable for a
period of fifteen (15)&nbsp;days from the date of such notice, and the Option or SAR shall terminate upon the expiration of such period. For the purposes of this paragraph, the Option or SAR shall
be considered assumed if, following the merger or Change of Control, the option or stock appreciation right confers the right to purchase or receive, for each Share of Awarded Stock subject to the
Option or SAR immediately prior to the merger or Change of Control, the consideration (whether stock, cash, or other securities or property) received in the merger or Change of Control by holders of
Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the
outstanding Shares); provided, however, that if such consideration received in the merger or Change of Control is not solely common stock of the successor corporation or its Parent, the Administrator
may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of the Option or SAR, for each Share of Awarded Stock subject to the Option or SAR,
to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the merger or Change of Control. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Restricted Stock, Performance Shares, Performance Units and Deferred Stock Units.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In the event of a merger
or Change of Control, each outstanding Restricted Stock, Performance Share, Performance Unit and Deferred Stock Unit award shall be assumed or an equivalent Restricted Stock, Performance Share,
Performance Unit and Deferred Stock Unit award substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to
assume or substitute for the Restricted Stock, Performance Share, Performance Unit or Deferred Stock Unit award, the Participant shall fully vest in the Restricted Stock, Performance Share,
Performance Unit or Deferred Stock Unit including as to Shares (or with respect to Performance Units, the cash equivalent thereof) which would not otherwise be vested. For the purposes of this
paragraph, a Restricted Stock, Performance Share, Performance Unit and Deferred Stock Unit award shall be considered assumed if, following the merger or Change of Control, the award confers the right
to purchase or receive, for each Share (or with respect to Performance Units, the cash equivalent thereof) subject to the Award immediately prior to the merger or Change of Control, the consideration
(whether stock, cash, or other securities or property) received in the merger or Change of Control by holders of Common Stock for each Share held on the effective date of the transaction (and if
holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the
merger or Change of Control is not solely common stock of the successor corporation or its Parent, the Administrator may, with the consent of the successor corporation, provide for the consideration
to be received, for each Share and each unit/right to acquire a Share subject to the Award, to be solely common stock </FONT></P>

</UL>
</UL>
<P ALIGN="CENTER"><FONT SIZE=2>B-15</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=8,SEQ=55,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=551971,FOLIO='B-15',FILE='DISK015:[05DEN2.05DEN1552]DS1552A.;8',USER='DTAYLOR',CD='28-MAR-2005;08:34' -->
<A NAME="page_ds1552_1_16"> </A>
<UL>
<UL>
<BR>

<P><FONT SIZE=2>of
the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the merger or Change of Control. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Involuntary Termination other than for Cause, Death or Disability or a Voluntary Termination for Good Reason, Following a Change of
Control.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If, within eighteen (18)&nbsp;months following a merger or Change of Control, Participant's employment is terminated involuntarily by the Company or
successor corporation other than for Cause, on account of death or Disability or by the Participant by a Voluntary Termination for Good Reason, then Participant shall fully vest in and have the right
to exercise his or her Award as to all of the Shares subject to each such Award including Shares as to which such Award would not otherwise be vested or exercisable. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Date of Grant.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The date of grant of an Award shall be, for all purposes, the date on which the Administrator
makes the determination granting such Award, or such other later date as is determined by the Administrator. Notice of the determination shall be provided to each Participant within a reasonable time
after the date of such grant. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Amendment and Termination of the Plan.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Amendment and Termination.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Board may at any time amend, alter, suspend or terminate the Plan; provided,
however, that the Board may not materially amend the Plan without obtaining stockholder approval. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Stockholder Approval.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Company shall obtain stockholder approval of any Plan amendment to the extent
necessary and desirable to comply with Applicable Law. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Effect of Amendment or Termination.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;No amendment, alteration, suspension or termination of the Plan shall
impair the rights of any Participant, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing (or electronic format) and signed by the
Participant and the Company. Termination of the Plan shall not affect the Administrator's ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to
the date of such termination. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Conditions Upon Issuance of Shares.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Legal Compliance.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Shares shall not be issued pursuant to the exercise of an Award unless the exercise of the
Award or the issuance and delivery of such Shares (or with respect to Performance Units, the cash equivalent thereof) shall comply with Applicable Laws. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Investment Representations.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;As a condition to the exercise or receipt of an Award, the Company may require
the person exercising or receiving such Award to represent and warrant at the time of any such exercise or receipt that the Shares are being purchased only for investment and without any present
intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Liability of Company.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Inability to Obtain Authority.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The inability of the Company to obtain authority from any regulatory body
having jurisdiction, which authority is deemed by the Company's counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect
of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Grants Exceeding Allotted Shares.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;If the Awarded Stock covered by an Award exceeds, as of the date of grant,
the number of Shares which may be issued under the Plan without additional stockholder approval, such Award shall be void with respect to such excess Awarded Stock, unless stockholder approval of an
amendment sufficiently increasing the number of Shares subject to the Plan is timely obtained in accordance with Section&nbsp;18(b) of the Plan. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21.</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Reservation of Shares.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Company, during the term of this Plan, will at all times reserve and keep
available such number of Shares as shall be sufficient to satisfy the requirements of the Plan. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>B-16</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=9,SEQ=56,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=268531,FOLIO='B-16',FILE='DISK015:[05DEN2.05DEN1552]DS1552A.;8',USER='DTAYLOR',CD='28-MAR-2005;08:34' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<P ALIGN="CENTER"><FONT SIZE=1><B>[OSTCM&#151;OVERSTOCK.COM] [FILE NAME: ZOST41.ELX]
[VERSION&#151;(2)] [03/17/05] [orig. 03/17/05]</B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=1>DETACH HERE </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>PROXY  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> OVERSTOCK.COM,&nbsp;INC.  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> PROXY SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS<BR>
FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B> TUESDAY, APRIL&nbsp;26, 2005  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints Patrick M. Byrne and Jonathan E. Johnson III, or either of them, as proxies and attorneys-in-fact, each
with full power of substitution, to represent the undersigned at the Annual Meeting of Stockholders of Overstock.com,&nbsp;Inc. (the "Company") to be held at the warehouse of the Company located at
955 South 3800 West, Salt Lake City, Utah 84104, at 1:00&nbsp;p.m. on April&nbsp;26, 2005, including any adjournments or postponements thereof, and to vote the number of shares the undersigned
would be entitled to vote if personally present at the meeting. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UNLESS
A CONTRARY DIRECTION IS INDICATED, THIS PROXY WILL BE VOTED FOR THE NOMINEE LISTED IN PROPOSAL 1, FOR PROPOSAL 2 AND FOR PROPOSAL 3, AS MORE SPECIFICALLY DESCRIBED IN THE PROXY
STATEMENT. IF SPECIFIC INSTRUCTIONS ARE INDICATED, THIS PROXY WILL BE VOTED IN ACCORDANCE WITH THOSE INSTRUCTIONS. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>PLEASE COMPLETE, DATE AND SIGN THIS PROXY ON THE OTHER SIDE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE.  </B></FONT></P>

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="49%"><FONT SIZE=2>HAS YOUR ADDRESS CHANGED?</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%"><FONT SIZE=2>DO YOU HAVE ANY COMMENTS?</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="49%"><HR NOSHADE></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="49%"><HR NOSHADE></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%"><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="49%"><HR NOSHADE></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=57,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=710876,FOLIO='blank',FILE='DISK022:[05DEN1.05DEN1561]MA1561A.;7',USER='DTAYLOR',CD='24-MAR-2005;11:33' -->

<P><FONT SIZE=2><B>OVERSTOCK.COM,&nbsp;INC.  </B></FONT></P>

<P><FONT SIZE=2><B>C/O EQUISERVE TRUST COMPANY, N.A.<BR>
P.O.&nbsp;BOX 8694<BR>
EDISON, NJ 08818-8694  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=1><B>[OSTCM&#151;OVERSTOCK.COM] [FILE NAME: ZOST41.ELX]
[VERSION&#151;(2)] [03/17/05] [orig. 03/17/05]</B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=1>DETACH HERE </FONT></P>

<P><FONT SIZE=2><FONT FACE="WINGDINGS">&#253;</FONT> </FONT><FONT SIZE=2><B>Please mark<BR>
votes as in this example.  </B></FONT></P>

<P><FONT SIZE=2><B>MANAGEMENT HAS PROPOSED AND RECOMMENDS A VOTE FOR THE NOMINEE LISTED BELOW AND VOTES FOR PROPOSALS 2 AND 3.  </B></FONT></P>

<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD><FONT SIZE=2>Election
of Director of the Company.<BR></FONT> <FONT SIZE=2><B>Nominee</B></FONT><FONT SIZE=2>: (01) Allison H. Abraham </FONT></DD></DL>
<BR>

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE WIDTH="33%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="27%" ALIGN="CENTER"><FONT SIZE=1><B>FOR<BR>
THE<BR>
NOMINEE</B></FONT></TD>
<TD WIDTH="6%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="6%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="9%" ALIGN="CENTER"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="6%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="36%"><FONT SIZE=1><B>WITHHELD<BR>
FROM THE<BR>
NOMINEE</B></FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="80%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="61%"><FONT SIZE=1><B><BR>
&nbsp;</B></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT SIZE=1><B><BR>
FOR</B></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="11%" ALIGN="CENTER"><FONT SIZE=1><B><BR>
AGAINST</B></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=1><B><BR>&nbsp;</B></FONT></TD>
<TD WIDTH="11%" ALIGN="CENTER"><FONT SIZE=1><B><BR>
ABSTAIN</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2>2.</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="61%"><FONT SIZE=2>Approval of the 2005 Equity Incentive Plan as described in the Proxy Statement.</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="CENTER"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="CENTER"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="2%"><FONT SIZE=2><BR>
3.</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="61%"><FONT SIZE=2><BR>
Ratification of the selection of Pricewaterhouse-Coopers LLP as Overstock.com's independent accountants for 2005.</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT SIZE=2><BR>
<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="CENTER"><FONT SIZE=2><BR>
<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="CENTER"><FONT SIZE=2><BR>
<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=7><FONT SIZE=2><BR>
Mark here if you plan to attend the meeting in person.</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="CENTER"><FONT SIZE=2><BR>
<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=7 VALIGN="TOP"><FONT SIZE=2><BR>
Mark here for address change or if comment has been noted on the reverse side of this card.</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="CENTER" VALIGN="TOP"><FONT SIZE=2><BR>
<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=9 VALIGN="TOP"><FONT SIZE=2><BR>
Sign exactly as name(s) appears on your certificate. If shares of stock stand of record in the names of two or more persons or in the name of husband and wife, whether as joint tenants or otherwise, both or all of such persons should sign this Proxy.
If shares of stock are held of record by a corporation, the Proxy should be executed by the President or Vice President, and by the Secretary or Assistant Secretary. Executors or administrators or other fiduciaries who execute the above Proxy for a
deceased Stockholder should give their full title. Please date the Proxy.</FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<!-- User-specified TAGGED TABLE -->
<TABLE WIDTH="82%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="10%"><BR><FONT SIZE=1>Signature:</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=1><BR>
Date:</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%"><FONT SIZE=1><BR>
Signature:</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="18%"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=1><BR>
Date:</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1><BR>&nbsp;</FONT></TD>
<TD WIDTH="9%"><FONT SIZE=1><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%"><HR NOSHADE></TD>
<TD WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%"><HR NOSHADE></TD>
<TD WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="18%"><HR NOSHADE></TD>
<TD WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="5%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TD>
<TD WIDTH="9%"><HR NOSHADE></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=58,EFW="2154479",CP="OVERSTOCK.COM, INC.",DN="1",CHK=891392,FOLIO='blank',FILE='DISK022:[05DEN1.05DEN1561]MA1561A.;7',USER='DTAYLOR',CD='24-MAR-2005;11:33' -->
<!-- THIS IS THE END OF A COMPOSITION COMPONENT -->
<BR>
<!-- TOCEXISTFLAG -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g574437.jpg
<DESCRIPTION>G574437.JPG
<TEXT>
begin 644 g574437.jpg
M_]C_X``02D9)1@`!`0$!(`$@``#__@`R35),3%]'4D%02$E#4SI;3U9%4E-4
M3T-+74]615)35$]#2U]-4D5$7TQ/1T\N15!3_]L`0P`'!08&!@4'!@8&"`@'
M"0L2#`L*"@L7$!$-$AL7'!P:%QH9'2$J)!T?*"`9&B4R)2@L+2\P+QTC-#@T
M+C<J+B\N_]L`0P$("`@+"@L6#`P6+AX:'BXN+BXN+BXN+BXN+BXN+BXN+BXN
M+BXN+BXN+BXN+BXN+BXN+BXN+BXN+BXN+BXN+BXN_\``$0@`7@&E`P$B``(1
M`0,1`?_$`!P``0`"`P$!`0`````````````&!P0%"`,!`O_$`$H0``$#!``$
M!`(&!@@""`<```$"`P0`!081!Q(A,1-!46$B<0@4,H&1H1460E)BL2,U<G."
MLL'1,[,7)#=#4X.2HC8X5V-TH_#_Q``;`0$``P$!`0$``````````````P0%
M!@('`?_$`#`1`0`!`P($`P8&`P`````````!`@,$$3$%$B%1$T%Q,F&!L='P
M!A0B,\'A4I'Q_]H`#`,!``(1`Q$`/P#I&E*4"OBB$C9Z"M;?;W;[%!5-N#W(
MV.B4CJI9]$CS-5#-OF29[<S:[:DQX1ZEI*M)2C]YQ0[_`"[>QJ&Y>BCIO/9>
MQ,"YD1->O+1&\SLGV0<0[!:5+9:<5.D)[HCD%*3[K/3\-U#WL[S&[[%ELY:;
M)^%34=3RO_41R_E4QQK`+)9D(<D-)G3!U+KR=I2?X4]A^9J8I2$@)```Z`"O
M/)=K]J=/1/\`F,*Q.EJWSSWJ^BAYUPXD;\22J]-CO\#!2/\`VIK2_K7DZ%];
M[/"DGJ"YV^8-=)UHLAQ>SWYE:)L5`>(^&0V`EQ)^?G\CL5%7C5[TU2MV.,6-
M=+MF(CW1'R4];.(F3PE#Q93<U'[LAL;_`/4G1JRL4SZU7Q;<5\?4IZN@:<.T
MN'^%7G\CHU466XU-QJX"/(/BL.;+#X&@X/EY$>8K1=NHJM3?N6JM*FO=X9AY
MEOGMQIKM,?1U=2JVX99BY<A^AKJ]SS$)VP\KNZD=P?50_,?*K)K3MW(KIYH<
MAE8U>-<FW<W*4I7M7*4I0*4I0*4I0*4I0*4I0*5Y,R&'RH,O-N%/?D4#K\*]
M:!2E*!2E*!2E*!2E8TN="AE`ES&&"YT0'7$HYOEL]>]!DTI2@4I2@4I2@4I2
M@4I2@4I2@4I2@4I2@4I2@4I2@5JLBO4.PVQRX35'D3\*$)^TXH]DBMFXM#:%
M..*"4)!*E$Z``\ZYXSG)',BO"W$*4(#!*(R#Z>:C[G^6A4%^]X=/O:/#,"<N
M[I/LQO\`1X7"=>,QO[:5;<D/KY&&0?@:2?(>P'4GVJ]L6L$/';6W"C`*6?B>
M=(ZNK]3[>@\A4'X.V-*(\B_/H!6X2S'V.R0?B/WGI]QJTJCQ;?3Q*MY6^,9<
M37^6M=**?G_7S*4I5MAE*4H-5DMFC7VT2+=(`'.-MN:V6UCLH?\`]VW7-LZ(
M_!F/PI*.1]A9;6GT(KJ>J4XQ6M,6]QKFVG29K92O^VC0W]X(_"J69;UIYX\G
M0\`RYINS8G:=O7_B`PY+T.6Q+CJY7F5AQ!]%`[%=-62XM7:TQ+BST1(;"]?N
MGS'W'8KE^KPX/RU2,7<C*W_U60I"?D0%?S)J+"KTJFGNO?B"Q%5FF[YQ.GPE
M/Z515ER&_8CQNE8K?[M-F6:[#FMRI3I6&RHDH`)]^9OYZJ]:TG(%*HSBMDE^
MN_$:P</L4NLJ`\5!<]^*X4J2%#>B1^ZV"K7\0JV<EOEOQ/&Y5XN;R_JL-H;V
M>9;A[)2-]U$Z'WT&ZINN:K:[Q7XNN.W*'=3CF.E2DL^"XI`7HZ('+\;A]22$
M[WKTK83>&G%?&VC<<:SZ5<Y#8YE17G%I\3V`<4I"OD=4'0M*K#@_Q*5F;4JT
MWB,F%D4#H^P$E(<2#HJ"3U20>BD^1(]>D,XZYM>L1XAXZ]"G2Q`;C)??A-O%
M#<@AQ710]P`/E0=!4J@+5@7$O+5P\ER+-I5I5(6AWZA$4XCPF20>4!*@$*UY
M$'W.Z]<TNF79OQ-D</L8O3EFMUM92Y,E-*(6KHDD[&E'7.$A((!.R?8+ZH:H
MRUXGQ:PS(+<FUY+^L=HD.AN0B>M02RGS40I1*>G8I)Z]"*FG$G%\OR%^WKQC
M+7+&AA*P\E"ECQ22.4_#Z:/XT%;?1;_K'-?[YC_,[71%<<<'<7R^_P`K($8W
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MHE(:T%@#?Q\OPC8ZA8T#V[]XS]*7^L<)_OG_`/,S0=$TJ+YWFMDPBSJN-V>^
M->Q'C-]7'U>B1Z>I/0?@*JS`V>(?$6\'*;S>;A8L;408\&$\IHOI'8)\^7U6
M>I\M>07W2O@&@!UZ>IK[0*;JH^*_$Z98[HQB.(Q!/R:5H:"><1^;[(Y?-1'7
M1Z`=34=C<+.)U[3]=R/B3+AR7!S^!%6XM*#Z?"I"1_A&J"_J5SC>8_&#A>D7
ME-_5DMC:U]82^5.%"?525;4D?Q))UYU>6&Y"SE.-0+ZQ&?C(E-\W@O)(4@]B
M-Z',/0CH1UH-Y3=43Q#XF9#<\H."<-V?%N*5%$F:D!7(H?:2G?PI"?-9\^@]
M3A(X/\1Y#)ES.)LM%P5\10AY]2`K^US#V[)H.@Z5SI9L]S?AODD?'N)*C-M<
MDZ:N.^<I3O7.%Z!6D'N%#F&]^QZ!F.@VU]]EP$>"I2%H._V200:#*I7(^`<1
M.(=VA/XO9)4NX7^<^%IFRW/$3$82G2B.;8'7S/;R!)%3&?PIXHL1%72+Q&ER
MKLA//X'UAY"5*_=2LJU[#:0/E0=#TKF^P<;KX[BAM#D#Z[FYE"%&;#>O%V#_
M`$BTC0V""".@)T>@W6>KA9Q2N[)N=UXCOQ[HL<XCM.N^&V?3:"`/\*2/G0=`
MU@7N[0K);GKC<'"AAO7V4E2E$]DI2.I)]*I[@[FF3MY5<>'F;+4_=(B5+8DK
M(*E!.B4E7[0*2%!1ZZWOVM3+K*[?+.N+&D)CRD*\1EQ:>9(5HITH>A"E#IU&
M]^5!KK5Q`Q>Y-K<3<41DIUHR"$!8(W\)V0?<`['3?<;5%X7"WQFE,W&6(L=!
M2IEF*X7CS^$AM:U..)!/,&D:&M#1]>B@V_%N\J@6%%O97RO3U%"M'J&QU5^/
M0?>:H_J>B1LGL/>IGQ5GF9EKS`5M$-M#(]-ZYE?FK\JCN/1Q*O\`;(Q&PY*:
M21[<PW61D5<]W3X.YX79C&PXJG>8UG[]'1F/V]-KLD&WI`'@,I2=>:M=3^.Z
MV-*5K1&D:0XBJJ:JIJG>2E*5^O)2E*!5>\9(R7,:CR=?&S*3H^@4"#_I5A5"
M>+7)^IK_`#'KX[7+\^;_`&W45^-;=2[PZJ8R[<QWA0U6]P243"NZ-=`\V0?<
MI/\`M50U<_!9A2;)<)!^RY*Y1_A0/]ZSL3]V'5\<F(PZO6/FT?TCL8<N.+L9
M-;P4W*R.>-SH^UX)(YM?V3RJ]M&I5C>?6^X<,T9I+6E*6(JERT)/V74#2D#Y
MJ[?VA4UE1V949Z-(;2XR\@MN(5V4DC1!^XUQA>K7DMCOERX205K5"N%S:<9"
M@?C3^PKY$%)5[M^U:SAUM_1XM$N[S[[Q(O*>:9<GUM1R1T"=[61[;TD>R37A
M]*V;)3:,=M37.6Y4IQQ0'92D)2$C_P!YJ[<;L\3'[#;[+"3J/#92TDZUS:'5
M1]R=D^YJNOI#8G+R3#$3+:TMV?:G3)0A'52VR-+"1Z]`K_#01VSY;Q4L]KB6
MN#PI#<6(TEEM(<5T2D:]>]9GZ_\`%[_Z7?\`[%?[U*^$_$2TYG8HJ%RFF[XR
MVE$J*M0"U*`T5I!^TDZWT[;T:F5YO%IL<%R==Y\>'&0"2X\L)'R'F3[#K0<]
M8U;,\D\9H&8S,,DVAF0X&YH;ZMZ*"A2CU\^A/N-UD<<8:+CQGP6"\WXC3XCH
M<1ZI,@['X;J8\-.(=]SG-+Q]2MS2,2CITT^ZV4NA79(V.A*NJBGR&NOK'>+'
M_;WP^_\`)_YZJ"_QVJC.)>(9;8<U/$C`T?69*VPF="Y>8K``!TG]M)"1L#X@
M0"/:\QVJ-VC-<8O%[GV.WW:.]<(2N5UH'6SY\I[*T>AUO1H(IPVXNV7,7TVJ
M6RJUWT`@Q7CM+A'?D4=;/\)`/SUNK/-<W_2&;M",PQ9=B#2,K7*27#'T%D<R
M?#*]?M<W8]];\M5T?Y4'/'T6OZQS7^^8_P`SM;7Z5$]]C#K7`:44MRIVW-'N
M$()`/WD'[JU7T6OZQS7^^8_S.U/^.N)2LMP5YBWMEVX0G1+8;3W<T"%)'N4J
M.O<"@F.)6F)8\:M=IA(2EB-&0@<O[1UU5\R=D_.MQ54<&>)5KR.P0[1<IC<:
M_P`-M+#C+ZPDR.4:"T;^T2!U'<'?3563=KM;+-"<G76?'AQD#:G'W`@?GW/L
M*"@N+L=NP<;<+O\`;N5N3.=:2^E)T5D.!LD_-"^7[JSOI/RG7F\3L`>4U&G3
M%K=/E\/(D$_+Q%&M39I#_%WC/&OT9AU&-V`H4VMQ.N8I)4G8_>6OKKR2GK4U
M^D3B$S(\3CW*V-+=N%H<4\$-C:UM$#GY=>8TE7W&@M2V08MLM\:WP64LQ8S:
M6FFTCHE*1H"LJJVX4\3+/F%EB,29S+%^:0$2(SB@E3BATYT;^T#WZ=1V/ENP
M9LR)!C+E39+,:.V-K=>6$)2/<GI0>P;;#BG0A(<4`"H#J0.PW]Y_&N<_I7N%
MF1B#R0"IM<E0!['1:-6/B?%6TY7FLO'+-;Y<B(PV5BY(']$2.^P=%*=Z`/F?
M(=ZKWZ4O]8X3_?/_`.9F@U7"2R1.*.23LLS.[M7&9&<^"T[("4[VDE/_`(8)
MT$C8)^T?(].(0EM"4(2$I2-``:`%4;Q*X8W*VW4YUPX6N'=V5%U^$QT#WJ4)
M[$GS0>BO+KT,KX4\3[?FT8P9:$P<@CI/UB&=@+UT*F]]2/4=T_G0630UILJR
M6SXI:%W>^2Q&B)4$!7*5%2CV2`.I/0_@:_6,Y%:,IM#5WLDL28CA*0KE*2E0
M[I(/4&@H_P"C\TW?\\S7+9Y#LY+W(US=2@.*63H>71"4CVV*Z'KF1B8[P9XO
M7$W%ES]6;X5+0ZA)(2DJY@0!W*"2DCOH[\Q71]KNENNT-$VV38\R,L;2ZPX%
MI/WB@REH2XA2%I"DJ&B"-@BM?D$I5MQZYS6``N+$==0/+:4$C^51SB#Q$L&$
MVYUZ9):?N/*?`@-N#Q'5>6^_*GU4?S/2MKC-V:R_$XUR>MLJ$S<&#S1Y(`5R
MD:)Z=TD=0?,$'5!4WT6+9'_5R\9`YIR?*FEA3A.U!"4I5K[U+)/KH5?-<T\,
M;Y_T3YE=\&RIPQ[=)>#L28L:;WV2LG]U:0`3Y%.CYZZ08E1I$=,EB0TZPH<R
M74+"DD>H(Z4%<?2"M$2Y\,KH^^A'C0.22PXKNE04`1OW2HC\*]N$<]^X\&[1
M(DJ*G$PW6=D[VEM2T)_)(J"<=,Y8R!ECA[B+@N=PGOH3(5&5SH`!V&PH="=@
M$^0`Z^>K:QNPHQC`HEA0L+,.$I"UCLI922HCYJ)-!3GT3K>P(N0W0I!D%;4=
M)UU2G14='W)'X"NBZH#Z)_\`\/W_`/\`RV_^75_GM0<U<+;1'<^D/EKJFTJ3
M`<ENM;`^%:G0GI]RE5TK5`<)_P#M[X@_^=_STU?]!SU>5B/]*BT+0GJ['2E6
MNF]QUC?Y"NA1VKG?(O\`YI;'_=-_\ERNB!V%`I2E!S'DDDS,@N<HC1=D+5KT
MZZ'\J]\.(&5V8D@#ZXWW^=8-W:6Q=IK+GVT/K2=G?7=+/)$*[09BOLL2&W#\
M@H$UAZ_KUGN^C31KC<M/^/\`#J,4KX""-@[!K[6X^<E*4H%*4H%5]QDD!O&6
M&-_$]*1T]D@G_:K!JF>,UQ#UV@VQ"@1&:+BP/)2^WY#\Z@R:N6W+2X1:FYF4
M>[K_`*5M\ZZ(X=V\V[$;>TM'*ZZDOK'NL['Y:JD\/LJ[]?XL#1\'?B/J'DV.
M_P"/0??5[Y3D5LQ.TIN=T#J(274-*6TWS!KF.@5>B=Z&_<56PJ-ZVM^(<B-*
M;$>L_P`-Y6@EXI9Y>70<L>8)ND*.N.TOIKE5YGIW&U`?VC[:WR5I6@+2H*21
ML$'8(J/V#+;1D%TNENM*GI'Z-<\)^0EO^AY_W4K[*(\]5H.72&E*4%59AP1Q
M'(9[ESBF3:)SBN=:X9`0M1.RHH(Z'^R16DB?1YQ_ZVAZZW^[W!M'9I2DHW[%
M74Z^6JO"E!K['9K78;:S:[/":APV1I#38T/<D]R3YD]34?R'`;1?LOLV5RY,
MQ$ZU<O@MM+2&U<JRH<P*23U/D14PI0*JG->"6*9-<5W2.Y)M,YQ7.ZN)KD<5
MYJ*#V5[C7ONI=E^<XWB0:;N\TB6__P`&(P@NO._)`_F="HT.,-A86A5VL>26
MB*M02F7/MJD-=3K9()U^%!\P/@[C6(W,7@O2;G<T';3\LC31/<I2//KW.SZ:
MJSJ\(4N+.BM3(4AJ1&>2%MNM*"DK2?,$=Q7O00S`>'MFP9ZZ/6J3->5<5(4[
M]96E024E1'+RI'[Y[[\JF=*@LKB/:V\6O61Q[;<I,:U3EP7&VVTE;BTJ2DJ3
MU^QM7<Z^5!K,XX-8CEDMVXEM^VW%T\SC\,@!Q7JI!!!/N-$^9J,Q?H[6#ZRV
MY<<ANTQE'_=[2C?MOKH?*KJMTM,^WQ9R&G&DR&D.AMU/*M(4`=*'D1OJ*R:#
M68_8[3CML:M=EA-Q(;>REM'F3W))ZDGU/6MG2E!5N9<$\.R64Y/:;?M4YPE2
MW(1`0M7J4$:W\M5'F?H\61;J/TCDMYEL)._"VE._O(-7G7Q:DH25K4$I2-DD
MZ`%!I,4Q:Q8G;OT?8K>W%9)VM0ZK<5ZJ4>JC\^WE6GS[A[9LY>M;UUDS656Y
M2U-?5EI3S%123S<R3^X.VO.M;-XN8RB:["LT2[Y"\T>5PV>&7T)/IS;`/W;%
M;+%N(^-Y'<56EI<JWW4)"OJ-Q8+#RA_"#T5\@=T$TJO,FX3XW?<C:R5M^X6F
MZH5SE^VNI;*UCLL[2?B]QW\]U8=*"(YYA$+-<8;L5TF2`6EH=1*0$\_B)!',
M1H).P3L:`Z]-5[\/L.M^#X\BRV]YUY/BJ><>=US.+5K9T.@Z`#7M6^N,QJWV
M^5/D;\&,TMY?*-GE2"3^0K0C,K:<%_754>4BW?5/K?A*2D.\GD-;UL^7776@
MV61X_9\EMCELO<%N7$6=\J^A2?)22.J3[BJAD?1XL*9"W+9D=XA-+_[L%*M?
M?H=/G5TVR8BXVV)/;;<;1)90\E#@TI(4D$`^_6LJ@J?%N!F&V26B=-$J\2T*
MYP9J@6^;UY`-'_%NK72D)2$I``'0`5YRGVXL9Z2Z=-M(4M1]@-G^5:W%;]%R
M;'X-]A,OLQIB"MM#Z0%@;(Z@$CR]:#"S/"\=S.$F)?8(>+>_!>0KD=:)[\JA
M_([!]*JI?T<[,"MMC)[LW'4=^$4H/X]@?PJQ[GQ`M-K=NR)T&ZLMVM`<DO&+
M\`25<J2#OKS'>O71K;V;)K1>KI<K9;I!?>MX:+RTI^#^D25)Y5=E=!UUVH-'
M@G#3%L()>M45;LY2>54R2KG=*?,#H`D?(#WW4S?:2\RXRHD)6DI)'?1&J]*4
M$/X>8#:,"AS(EIDS'VY3B7%F4M*B"$ZZ<J14PI2@A^/8#:+#E]YRN))F+G77
MF\9MU:2VGF6%'E`2".H\R:F%*4$+F\/;/,S^+G+DJ:+E&2E*&DK3X1`2I/4<
MN^RCYU-*4H%*4H.=N(<(P<PN:-:0ZL/H^2@#_/=1D]01ZU<'&*QEZ)'OK""5
MQ_Z)_7[A/PG[B=?XJI^L;(HY+DP[_A>1%_%HGSCI/P='X/=1>,9@RR1XJ4>$
MZ/1:>A_'H?OJ051'#+)A9;J8,QWEM\P@$J/1ISL%>P/8_=Z5>X.QNM+'N>)1
M'=R'$\2<;(F/*>L??N*4I4[/*4H3H;-!C7&;'MT%^=*7R,,(*UGV'^M<T7B>
M_>+O*N#H)=DNE00.NM]$I'R&A4TXFY<F[2/T-;7>:"RO^E<2>CRQV`]4C\S\
MA6^X<8.J&I%ZO+($G[4>.L=6OXU?Q>@\OGVH7IF_7R4[0Z?!IHX;CSD7O:JV
MCS^^[>\.<8-@M1=E(`N,K2G?_MI\D?=Y^Y]JW^16>)?['/LT]/-&F,J:7ZC8
MZ$>X.B/<5LJ'M5VBF**8IASM^]7?N3<KWESO:,GRNX62/PFM[;K.41G'(,ZX
M'?+&AMZ`>!]2DA(^7J15GRG;#PHP!"8L5:H\4);991_Q9;ZCH#?FI1ZD^0'H
M-5IN&($W/^)%Y/Q<UQ:A)5[-(((_E7KQN0N/:L>ORXZY$&S7J/-F-H&R&1L%
M6O/1(KTB>;,/C%<HOZ27?+)9WECG;M?U(O)2/)*W#UWY'6ZD'#G+)636^:Q=
MH28-\M<DQ)\9!VD+'92?X5#M\CW[UGO9IB;-H_3#F0V[ZAR<X=$A)V/0#>R?
M;6]]*BO")F;/.39C)C.16\@G!Z(RX-*\!">5M9'D3_IOSH-OPRR"YY)!O4^>
MMM3+=VD1X8;1RZ800$[]3WZUB_K7<!Q`R:V*4V+39K0W)4.3XO&4"K95Z<H[
M5H.!]\LULP(VRYW*-#N=NE24SVI+J6U-K\51V0==-:Z^QJ/MW`2L3XLYZP%I
MBW7<6$\H:+C3;?A!8]B5_E0;OAQ=.)V9VJUWZ7=+;:[87/B;3#YW9J`OXCU.
MD#0Y1KT)]*M6]W!NT6:X75Y)4W#CN/J`\PA)5K\JU^#0!;,,L-O"=%B`RA0_
MBY!O\]UEY+;!>L>NEH*PCZ[%=C\Q_9YDD;_.@@/!K'DN6L9W>0F5D=]W)7(6
M`2RTK[#:/W1R@=O8>567+C1Y<9V-*9;>8<24K;<2%)6#W!![BJLX1YG;XUCC
MX;D3[5JR&S)^J.QI;@;\1*>B5()Z*!3KM\^Q%2',>)>+XU#4?K[-PN*_ACV^
M&X'77EG[(TG?*"?,_=L]*",\+9"<;DY_C3;REVRP2O'B)6KF#32T*64;]BG^
M=8V#7CBCG6,1+HU<;98V"%`2EP_&<E*"C\002$H0/L^9)!-8T>U7;&.$6:Y%
MD!Y+]?6GI,E'_@EP<B$>Q'/V\MZ\JM'!8`M>%V&WA/*6(#*%#^+D&_S)H(]P
M_P`IO$UG(;7E#<<77'W_``I#\?X6WT%)6E8![;`ZC^7:H+B=ZNF.\'\:FVY3
M:+C?;V&]K3S_`/&?7OIZ\J:R($XM8]QDR0$@N3),9I6^_A-<B?S57Z<A>"SP
M5QQ2?B"TS5IUV4TP%G\U&@WN8Y=E;'$J#A^+QHCZG[:7UF0/@945D>(LCKRI
M`^R.Y('G7E<+OGV%WFR/Y#=+?>[+<YJ(+W@0_J[D5Q?V2G1/,GY^E9>)I$[C
M-G%P*=B#%AP4*_M)YU#\0*^\6O\`KEZP"SZ)#]^;D*2/-+*2H_SH-EG&77.!
M=H.*XK!8G9).;+P$A1#,1D'1=<UUUOH`/]@8[>)7%3$+>O(I]SM5_@11XDV"
MU$,=:&OVBVL=]#KU\AV-:?+[38D\9G'<P>DQ;?=K<VB!+1+7';2Z@@*;4M)&
MM]]$ZZCU%95]L'">VNQ+?,N=PDOSW$L-Q8UVD2%KYCK90E9/+Z_ZT%P6N?'N
MELAW*(HJC2V4/M$C1*5`$?D:KCC`],N\_&L`A25QTW^0LS74'2A&:`4M(^?^
MFO.K$LULB6:U1+5`;+<2(TEEI)45$)`T!L]35;\6T2[%?\7X@1HSLF)9G'6K
M@AH;4F.Z-%>O,)Z_B/>@L:RVFW62VL6RU0VHL-A/*AIL:`]SZD^9/4U`..]H
MCO84_D3)^KWBR*1*A2TGE6VH+3L;\P0>WKJI?;LQQ6XP$7")D-M7%4-\YDI3
MR_V@2"D^QJL<XR`<3IS6`X>XJ5;E/(7>;HV#X+323OD2K]HDCY'0`WU("4YM
MEMR@8CC5PM*FVYUYF0HZ/$;Y]!T<RNGRJ59C=5V3$[U=VBD.PX;KS?,-CF2D
ME/YZJ"\7/JUI>P2=)26K+;KRT7UZVE@!!"%*]`#YU\XR9%;9V'+QNSW"--N]
M\6U%B,1G`XI04M/,H\N])Y0>IZ4&%GMQR>1P39O9ND:*X]:0NXH5%YB_XR4@
M)1U'(?C/71K4Y;;\@L?!!ZSW*YQI?UEN#"A-L1?!+*2I.TJ.SS'0[].WO4EX
MT1D,\/;;CK/V)L^%;T)'38YP==_X*]N+P^M2\%LB2`F5D#"U)UW0T"H_S%!E
MY=E%RM,^V87A]O9FY`_'"QXY(8AL)^'Q7-==;&@!_L#I+S+XJ8=!5D-PN=JR
M"VQAXDZ&U$^KN(;_`&E-J\]#KU\AVK493:;".,TM67NOQ85W@-?H^6F8N.CQ
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M%*4H/.0RU(9<8?;2XTXDI6A0V%`]P:H#.,1E8Y+4\TE3EK<7_1.]^3?9"O?T
M/G\ZZ#KRDQV93"V)#2'65C2D+3L*'N*AO68NQIYK_#\^O#KUCK$[PY5JQL)X
MA.6MEFV7E*WH:/A;?3U6T/0C]H#\1[UO;]PMAR75/V67]3)Z^`Z"MO[CW'YU
M6MUQ^=;'ULR'(ZB@Z);6H^?ND5G<MRQ5JZN+V)Q*WR3_`'#H>V7BV71H.V^<
MQ(3Y\BP2/F.X^^L[=<M(B/%8Y5("B=`\Q'^E2^S87D-X;2!=66V-=EON*T/[
M.M59HRZJNG*R+_`K=O\`5XND>GT6]=\FL=H0HSKBPA8_[I*N=9^21UJL[WE=
M]S)]5GQR$^W%5T<(.EK'\:NR$^V^OY5(+1PLM$90<N4IZ:ON4)_HD'YZZG\:
MGD&##M\=,:%&:CLI[(:2$C\JEFF[<Z5=(4J;N'BSK:CQ*N\](CX;H;A>`Q+(
M6YUP*)5R'5.A_1L_V1YGW/W:J=TI4]%%-$:4L^_D7,BOGN3K)2E*](6%;;5;
MK7]9_1\)B-]9>5(?\)`3XCBNZU>I/K68M*5I*%I"DD:((V"*^TH(HUP\P=J=
M]>;Q6TID`\P5]63H'UY>V_NJ5@`#0'2E*"-WC!\1O4_](W7';?+F=-O.L@J5
MKMS?O??NMI,LUJFVHV>5;HSMM*4I^JJ;'AZ!!`Y>V@0*V%*#XE*4)"$@)2!H
M`>0K[2E!HK_B6-9$IM=[LD*<XV-(6\T"I(].;OKVKQL>$XG89'UJT8_`B2/)
MY#(YQ\E'9'W5(Z4&)=+=!NT%VWW*(U*ANZ#C+J>9*M$$;'S`-92$)0A*$)`2
MD:`'D*^TH-3^KEB_1DNU?HF)]0EN*=D1_#'(ZM1!*E#S)(!^ZLA5IMBYL.<J
M"P94)"FXSO(.9E*AHA)\@0-5G4H,.%:[?!DS)4.$RP_,6')#C:`%.J`T"H^9
MKY*M=NESH<^5"9>EPBHQGEH!4R5#2BD^6Q6;2@P;M:;9>8:H5V@1IL4G9:D-
MA:=^1T?/WK76'#L7QYY3]EL,&$^H:+K30"]>G,>NO:M_2@5\6E*TE*DA22-$
M$;!%?:4$-D\,L!DOK?=Q2V%Q9VHI9Y03\AH5)K7:[;:(B8=K@1H49/4-1VPA
M._70\ZS*4'A-B19\5V'-CM2(SJ>5QIU`4E8]"#T-:6Q89BN/R52[-8($.2H$
M>*TT.<`]P">H'L*D-*#"N-KM]R,4SX;,DQ7DR&/%3S>&XGLL>A&^]?9=M@3)
M<.9*ALO28:E+CNK2"IHJ&B4GRV.E9E*#`N]HM=ZAF%=[?&G1B0KPI#86G8['
M1\_>M?8<.Q?'GE/V6Q083ZAHNM-`+UZ<QZZ]JW]*##N5LM]T;9;N$-F2AEY+
C[:74\P0XG[*A[CUK,I2@4I2@4I2@4I2@4I2@4I2@4I2@_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g431731.jpg
<DESCRIPTION>G431731.JPG
<TEXT>
begin 644 g431731.jpg
M_]C_X``02D9)1@`!`0$!F@&:``#__@`S35),3%]'4D%02$E#4SI;3U9%4E-4
M3T-+74I/3D%42$%.7TI/2$Y33TY?4TE'+D504__;`$,`!P4&!@8%!P8&!@@(
M!PD+$@P+"@H+%Q`1#1(;%QP<&A<:&1TA*B0='R@@&1HE,B4H+"TO,"\=(S0X
M-"XW*BXO+O_```L(`%4!.P$!$0#_Q``<``$!``(#`0$`````````````!@4'
M`@,$`0C_Q`!`$``!`P0`!0($`@8&"P$````!`@,$``4&$0<2(3%!$U$4(F&!
M<9$5(S)"4G(78F.AL>$()"4S-#4V4W2"LL'_V@`(`0$``#\`_2-*5A[_`)+8
M<=8]>]W:+"1X#K@"E?@GN?L*DD<3FYR_]@8?DUVCZ_XEJ&&FS^!<()_*NYKB
M([%2EW(L.R"SQ2-JE.,)?:;Z_O%LE2?RJUMEPA76`Q<+=*;DQ'T\S;S2MI4/
MH:]5*4I2E*4I2E*4KK?>:8:6\^XAMI`VI:U`!(]R3VJ(E<1(DEU47%+1<,CD
M;*0Y#1R1DJ!UI3Z])UO^'FKH)XM3N1Y*<6M+9ZEESUI3@^A4.5/Y?Y5F<$O\
M^]PI\>\1F&+O:YBX4Q,<DM+6`%!:-]>4I4#H]1UJII2E*4I2E*4I7@O-WMEC
MMSURNTUF'#:&UNNJT!]/J3X`ZFH)JZYIG*TJL3:\;QIP;%QDM@S)*?=IL["$
MGPI77R/:LYCG#S&;$[\8(:KA=%=7+C<%?$/K/OS*_9_]0*L-"FA[5!(::Q7B
M%&8BZ:MF2(=YF!T0W,;`5S)'8<Z.;8'<IWYJ]I2E<7%H;;4XXI*4)!*E*.@`
M.Y)KPV*\6V_6MFZVF2),)XJ#;J4D!7*HI.M@'N#60I2E*5UOO,QV5O/NH::0
M"I:UJ"4I`\DGM6*L.36#(ES$62[1IYAK#;_H+Y@@GMU\@Z.B-@Z/M69J3RC,
MH]IF(LUKA/7G('4\S=NBD<R$_P`;JCT;1VZGWZ`UA8^#W3(Y+5QXA7%$U*#S
M-66)M$)D]".?R\>G=73Z:K8,:-'B,-QXS#;+#8TAMM(2E(]@!T%=I[5I;",[
ML\/),SC&/=9LI^^/+*(,%V1Z32$(;2M7*-@%25`=^WMUK8MBS7'+Y/<MD.<I
MNYMC:X,ME<=\#6]^FX`2/J-U24I2E*4I2E*GLRRJ!BEL3+E-NR9+[@9B0V!S
M.R73V0@?XGQ4O8L/O%\N[63<07&GI+*N:#9VE<T:"?"C_P!QSZG>ORULFE*5
M!\5/U$;&K@DJ0[%O\(AQ/=*5K]-8_`I61]ZO!2E=<A]F-'=DR74-,-)*W''%
M!*4)`V22>P`K4'$3BOB4C$+_``++=%39KL%QM*H[#BD(*QR;*P-#OY-5_"N\
M8_<L0@0[`]M%N8;C/,K24.-+"!OF2>O4[.^QZU:4I2E=,QUQB(^^TPM]QMM2
MTLH("G"!L)&^FSVK0F$P7.+<V1.SB^%Q,%]:3C#',PF/HZ!<&PI77S]MCM6Y
ML;Q;'\8;D-V&U,04R%!;OI`_.0-#9)/0>W;J?>L-GEXNPE6[%<;=;9O5U#BO
MBECF3"80!SO<OE6R`D=B3]*RV)XM:L6@*C6]I2GGB%RI;RN=Z4YY6XL]2=[/
ML-G59ZE<7%)0A2UD!*1LD^!6D^&4:/CL7&LD0I*8V2)7%GKUKFDK=6N.X?QV
MMO[HK9^6XS`R6W^B_MB8T>>'.:&GHKHZA:%=QU[CL1T-='#R^O9'B-ON4L)$
MW2F924C0#S:BA>A[$I)'T(JFI2E*5K:\<3UP\@FV&VX7D5SDQ%<JULQPELZ&
MR0H^/8^?%<E9OFB@E3'"R[*01O\`63F$$?;K7-&8YVMM;@X6S$A'[JKJP%'\
M!KK78,PS)!*7N&-SYO[*X1UIU^.Q66M^52Y$-MZ5B5^BOJWSLJ80HI(.NX5H
M^]3./N1KCQDR8WAU*KC;&&&[3'=3KTXZD;<<;WW)4=%0[#IV.JVATI2E*C>*
MC:3B1?4X$"-/A/DJ['EDM]"?'XUC<EXI6*T9+8<?A/Q;E)N$T1I'H2$GX0%0
M3M6M_-S$?*==`:R.;<1<=PY19N"Y$F8EOU5Q8;?J.-M[`YU]0$)V1U)&_%9C
M)\EMF-655XN2U^CM*6FVD\SCZU?LH0GRH^!7&U9#:+])N%I9*ER8C;?QT=QO
M_<EQ)(;4>J2K0((!.JCN+4*UVOA#DD"SQHL1EAE"2S&2E`1MQ!T0.VP?/O7R
MR(C1N,;XBH#+;N+1W7@"-%27N5)/U"1K9\5[L,XB,97F-ZLT&-JW0F$.1I2M
M@R?G*5K2/*-]C]#[]-=9IQ/R5R+<\EL5VCVVQ09@@V]A4=#KEU>!'J$\QVEL
M#9VGKV\GIM+(L^MF-+L4"Z(<>O-U6TVW"B@*6"H@%1V>B0HZZGKX[&NCBGFQ
MQ&TQFX!CN7JX/ICQ&7B=)VH`N*`ZE*=C[D5<HYN1/.05:ZD#0W6&R[)K3B=D
M?O%YD!J.V-)2.JW5>$)'E1_S/05"<,[+=;WD<SB9D<,09<YGX>WP0G19C="%
M+/<J5]1]?(`VM4-E]@O0R:W9GC:8TFX0XKD1Z!)66TR65*YM)7H\BP?)!!KS
M(XH6J"MN/EEKNF-R5'EW.CE3!5_5>1M)'U.JL+3?;->60_:;K#G-DD<T=Y+G
M4=QT/>LENL7D\A,3&[O*6X&TLPWG"LG7+I!.]UKJ1;V8O^CY&;D241%Q;.S+
M:>"M<CZ`EUL@^_.$C[ZJ\PR_M91BMLO[+2FDS&0LMJ[I4"0H?AL'7TJ`QK)(
M6)-9T[<G%%E&2.HB1F4[<><=0A0:;3Y422?S)J@QS,[BY/OD/+[7&L:[?';F
MC_6@ZE,=?,/G5VY@4'>NG4??TX7GL#+9]ZCQ(<F-'MP9<1(DIY/B&G$J*7`D
M]4I(22-]P0>G:I+*;G>,LQC(LDM%XGVFRVAAYVVKB*]-5Q<:25*=4K6RUL%*
M4C7-HDGL!V9KQ/D8Y'PB2(ZI#EW9^(D164;6X"R.5"?;;BT]?IV-9WAEDE]N
M46_1,O3%CW:U32AY#6DI;:4@+02?;1(YO('XFO#C'$.5?>(K]E3#0W8'X2WK
M9+4DA4PH6$K6G?=)^;73LG?7=;,T#NM?X9*EM\1<]L\B0XZPV[$F1PXHDI#C
M6E`>P!0.E<;/?;@OB]D=DER2BWM08JHK"W`0I1V2I(\$[((_J[]J[.'<Z<[D
MN=VRY2GW78EV"VD.K*@TPXV"V$[[#0)T*O\`0]JG\FQ"PY,67;G#)E,`AB6R
MXII]G?\`"M)!'X=JP!PC(H:-67B+>F>7HVB>TU+0D>`>8!1_/VKB++Q08'ZO
M-K/+([?$6?DYOQY%^*ZF[1Q8*DAS+K"E/E2;6HG\N85\D8]Q3>!".(%M9!3K
M]79D]/KU4>M4F$V_)K;:UQLIO;%VE!PEN0TQZ1Y-#HH>3O?6M;<:\B?NUONF
M-6I*5VRWAEZ_3`=AILN)TRG0/SG]H^P34#(P5W-^+UZLUN0;+:;"TEAEQE@)
M#/*!Z?3IS%2^96R=D;.ZVS=^&7)P[O%DMTGXR_7#TW9-QF*/J3'$.)7RK5LD
M)/+H#L-^>]>+*\:SW-9N.75L0L<%M>6OX5]P27&U$`!WY1R%0Z\J=].Y/70]
M=KX77&QRY#=@SBYP+7,6EV8T64.ONNA.E+#RNJ2KN>AJEO&&6]S`[MBMJ92P
MF9'=2%K65*6\H;"UK.RHE0!).S4(CAWE=YO[$V[W-,&TS;/%BW2*PO;RE-@<
MS"5C>D*5LE0.R"1]:J;[@\T7V#>L4N$2V/,VTVEQI^.76A')VDH`4-*2>W71
MZ;^L7:N!`-EE6R_W\SO196S:2VT4(A%2^<N<N_F43K?7MTWVUG&^%#SUF??N
M=_<EY<Y(9E(O"V]^DMD[;2E'A`'<#6][\"LO_1ZF\V>Z-YC.%QNUR2$.2V$>
MF(R$JYFT,@[Y0D]=]U$G>ZR&-V3,[?,:3=LO9N-N9'*EO]'I0\Z!T3SN<QZ^
MY`ZU)\7+/>7<MQ7(6['(R"R6TN%^VQ]%0=/[#G*?VAOE\=.7KWK)Q<OX@W1`
M%OX;+A!6]/72XI:2GKY0$\_OXJMM\?))5CE,7J7"BW%Y"T-NVQ*M,;3H$%S?
M,H'KO0'TKW6*'+M]HAPI]Q<N,IEL)=EN("5/*\J(':O6\RT^VIIYI#C:NZ5I
M!!^QJ6NO#K"[H]\1(Q^(W)\/Q@6'`??F;(.ZE\IL<G"[-(O-MX@W>VQ8_P`W
MH7#EGMK)WI"4KTK9.@/FK7&29IQ8CV2Z1LJQEQ=LFV9Q!<BQBA#)=3H..*TK
M12"04;3HGK3B+Q(L=RX4IQ2(W.A71+<1IR)*BJ0KTTA))![:^5/7R"*W+P;A
MOP.&&.1Y*"ASX7U.4CJ`M16/[E"HSAS8/T]Q(RK,YK2C;H]Q<:MS+B2E/K)`
M0M[D.M*`2!LC>R?(K,Y%PYD9#Q1CY!<7VU8\W";0[##BMR74*44I6G6B@$A7
M7?;6JXY-@F13LNN#UIND>)8;ZS':NNMI?0AD$<C6NFEI.CUZ;->6_P")9[#M
MMSQ;%Y%H?QJX-+8:1-*TNV]M8(4V@C?,D`GEWU&]>*S+/#=I66XY?9]P^*CV
M.V-Q(T536@'DC7J[W]]>X'6OF4<.#>\ED7%B]R(-KN;3;=Y@LHZS@WOD^?NG
M8/*==P*R>:8/"O\`:H35O=5:KG:_FM<N-\AC*`T$Z'[AT`1["I+&SQ;QJ+,-
MUL<;)YC[B5%]%W#1``T$I0I`2`._36_K7D2YQ`&>(RY'#62RM5O,-^.W>H_*
M\>8*2L_R]1^7;6CVR;U=8V4(R>=P;NQNX8,9$F-*;D$)!]D]!W(YN^NE56'O
M,7K))>1*Q*_62X+B)C2')P2TV_H@@<H42M0ZZ64CIT^E7=*4I2HWB5DLFPV=
MF%:$![(;LY\);&?[0]W#_50#S'?3M[U,99B<7&."5_M45*I$A413\N005+DO
MDI*W%>>XW]`*VLTE(2%`#9`V0._2N=*4I2E*4I2E*4K6$)H9SQ(F3I.G;%BS
MWP\5D[Y79VMK<(['D[#Z]:R?&1'KX.[;D\Q7/FPXJ4I.BOGD-[3]P"*M'8<1
M]M33T5EQM2"V4K;"@4']W1\?2N\`)````'0`5]``["E*4I2E*:'M2E*4I2M;
MXNT,GXBWO+'?UD*T$VFV;'0+'60X/Q4>4'VW6?XE2!&PB[$C:76TQST!Z.+2
MWY_GJH2`!H=`*^TI2E*4I2E*4I7!Y:6VEN*.DH!4?P'6H3@F0]PZMT\I`=GN
MR9;I[DJ6^L]3YZ:&_I7?Q&4IR3B$%MOG<D7^,K7\*6PMU2OL$?W[JW':E*4I
M2E*4I2E*4I7BO,U-MM$ZXK_9BQW'S^"4E7_Y4SPEMCEKX?V=N0#\5);,R03K
M?J/$N'M[<P'VKJXHJ]>WV2SI2I:[E>H;);2=<S:'`ZY]@ELDU<"E*4I2E*4I
M2E*5Q<2E:%(4`4J&B#Y%0_!M#;'#^#`;/6$_*BJ25`E)1(<&C]=:/WKEE3I<
MXB8+"!.DJG2U:(U\C'IC^]VKBE*4I2E*4I2E*4I4EQ4W_1OE&M_\M?[?R&LW
MC?\`T]:__$9_^!4T\ZJ[<4H\5LDQ;#`4^Z0.GQ#_`,J$GZAM*SV_>^M6]*4I
M2E*4I2E*4I4%@8_1N69K8"=-IG(N3"2K9Y)"-JUYUZB5_G7.W[N/%R[RDK"F
M;/:6(?*0?E=>675:\;Y4(WKW%75*4I2E*4I2E*4I2O'>(*+G:9UM</*B6PXP
MHCP%)*3_`(U"X9EL.W<*D76[OA+EC95#G(V.8/,GT^3^96DZ'GF%9CAQ:Y4*
MPJN5T3J\7ATW":#^XM8'*WUZ@(0$IU]#5=2E*4I2E*4I2E*5`9J3C626_.N5
M7Z-;CK@W?D25*2P3S-N\HZGD7L'N=+->GA;&FJLDN_W)E;,Z_3'+@MI?[33:
MM):1]FTH_.K:E*4I2E*4I2E*4I2HBX<.+#.RE.0.O3D@OHDO6]#VHK[Z!I#J
EV]=5#WWUU^.[>E*4I2E*4I2E*4I0@$:/:E*4I2E*4I2E*5__V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>g795666.jpg
<DESCRIPTION>G795666.JPG
<TEXT>
begin 644 g795666.jpg
M_]C_X``02D9)1@`!`0$!L`&P``#__@`Y1$E32S`Q-3I;,#5$14XR+C`U1$5.
M,34U,BY/5510551=,34U,E]35$M?4$521E],24Y%+D504__;`$,`!P4&!@8%
M!P8&!@@(!PD+$@P+"@H+%Q`1#1(;%QP<&A<:&1TA*B0='R@@&1HE,B4H+"TO
M,"\=(S0X-"XW*BXO+O_```L(`;D"KP$!$0#_Q``<``$``04!`0``````````
M`````P($!08'`0C_Q`!7$``!`P,#`04""0<)!@,&!04!`@,$``41!A(A,0<3
M(D%1%&$6%S(S5G&1E)4558&TT=/B"",T-T)S=J&R)#92<G2Q4V+#&"9#@I+2
M-6.SP?`E1%23X?_:``@!`0``/P#Z1I2E:7J+6JK9?'+/!@QIC[#+;KR'9R6'
M%E9.UIE*@>\<(23C('3G)H-:K3/[Q^V=U8C-=@)GE[*^^;2HJ):V\(W(6D'<
M3D=,'-7.F=42[K,CQ[A:!`$Z%[?"4'^][QG*00L;1L6-Z"4C</%UX-;73-,T
MS3-,TS3-,TS3-,TS3-,TS3-,TS3-,TS3-,TS3-,TS3-,TS3-,TS3-,TS3-,T
MS3-,TS3-,TS3-,TS3-,TS3-,TS3-,TS3-,TS3-,TS3-,TS3-,TS3-,TS3-,T
MS2E*4I2N?ZJT5,N=TN\B"+4MN]0VHDE<YI2W(H1N`<:P.3A6<$C"DI.?*O?@
M9=')#=K?FQUZ=:GNSTGQ>U+4X%Y;/]G`6XI6[.3P,#K5[I?3U[A7&%)O4R$Z
MW;+>;?$$9*@74E2"IUS=\E1#2!M&1UYZ8L.W,D=F5VVJ4G<[%22E1!P9#8/(
M]QKSXG^S_P#,\G\2D_O*?$_V?_FB3^)2?WE/B?[/_P`T2?Q*3^\I\3_9_P#F
MB3^)2?WE/B?[/_S1)_$I/[RGQ/\`9_\`FB3^)2?WE/B?[/\`\T2?Q*3^\I\3
M_9_^:)/XE)_>4^)_L_\`S1)_$I/[RGQ/]G_YHD_B4G]Y3XG^S_\`-$G\2D_O
M*?$_V?\`YHD_B4G]Y3XG^S_\T2?Q*3^\I\3_`&?_`)HD_B4G]Y3XG^S_`/-$
MG\2D_O*?$_V?_FB3^)2?WE/B?[/_`,T2?Q*3^\I\3_9_^:)/XE)_>4^)_L__
M`#1)_$I/[RGQ/]G_`.:)/XE)_>4^)_L__-$G\2D_O*?$_P!G_P":)/XE)_>4
M^)_L_P#S1)_$I/[RGQ/]G_YHD_B4G]Y3XG^S_P#-$G\2D_O*?$_V?_FB3^)2
M?WE/B?[/_P`T2?Q*3^\I\3_9_P#FB3^)2?WE/B?[/_S1)_$I/[RGQ/\`9_\`
MFB3^)2?WE/B?[/\`\T2?Q*3^\I\3_9_^:)/XE)_>4^)_L_\`S1)_$I/[RGQ/
M]G_YHD_B4G]Y3XG^S_\`-$G\2D_O*?$_V?\`YHD_B4G]Y3XG^S_\T2?Q*3^\
MI\3_`&?_`)HD_B4G]Y3XG^S_`/-$G\2D_O*?$_V?_FB3^)2?WE/B?[/_`,T2
M?Q*3^\I\3_9_^:)/XE)_>4^)_L__`#1)_$I/[RGQ/]G_`.:)/XE)_>4^)_L_
M_-$G\2D_O*?$_P!G_P":)/XE)_>4^)_L_P#S1)_$I/[RGQ/]G_YHD_B4G]Y3
MXG^S_P#-$G\2D_O*?$_V?_FB3^)2?WE/B?[/_P`T2?Q*3^\I\3_9_P#FB3^)
M2?WE/B?[/_S1)_$I/[RGQ/\`9_\`FB3^)2?WE/B?[/\`\T2?Q*3^\I\3_9_^
M:)/XE)_>4^)_L_\`S1)_$I/[RGQ/]G_YHD_B4G]Y3XG^S_\`-$G\2D_O*?$_
MV?\`YHD_B4G]Y3XG^S_\T2?Q*3^\I\3_`&?_`)HD_B4G]Y3XG^S_`/-$G\2D
M_O*?$_V?_FB3^)2?WE/B?[/_`,T2?Q*3^\I\3_9_^:)/XE)_>4^)_L__`#1)
M_$I/[RGQ/]G_`.:)/XE)_>4^)_L__-$G\2D_O*?$_P!G_P":)/XE)_>4^)_L
M_P#S1)_$I/[RGQ/]G_YHD_B4G]Y3XG^S_P#-$G\2D_O*?$_V?_FB3^)2?WE/
MB?[/_P`T2?Q*3^\J+L6CMP[1J.`QO$>)J&:PRE2RLI0E20D9)).`/.NCTI2E
M*4I7/>W/^K.Z?WT3]9:KH5*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I
M2E*4I2E*4I2E*4I2E*4I2E*5SWLB_HVKO\3W#_6*Z%2E*4I2E<][<_ZL[I_?
M1/UEJNA4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2
ME*4I2E*4I7/>R+^C:N_Q/</]8KH5*4I2E*5SWMS_`*L[I_?1/UEJNA4I2E*4
MI2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I7/>R
M+^C:N_Q/</\`6*Z%2E*4I2E<][<_ZL[I_?1/UEJNA4I2E*4I2E*4I2E*4I2E
M*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4K2NU76;NA-,HO;,!$U
M2I*&.Z6X4#"@HYR`?^&N,=CW:Q(7J8Z>_(K03?+R_+4][0<LET[MH&WG&.O%
M?3@Z4I2E*4I7/>W/^K.Z?WT3]9:KH5*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E
M*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*Y5_*-MR[AV9R5ID,,IAR&Y"N])&\#
M*0E.`<J)6,#_`#KD78EV9Z@>U'!U.IV$U&M5R6Q)8<6H.A38\0`"2.JAY^M?
M60Z4I2E*T6_ZU<M^K4Z?97:60EMA2W)TE;94IU2@$I"4$=$CE1`)4!16LI[,
MXS),!A&GC/>MR7@M1D!QL+RX4XV["IM2<9ST/G@76E]27:X3HD>[VZ-&3<8/
MY0A%AU2REL%`4VYD#Q@.(.1P<D>7.-[<_P"K.Z?WT3]9:KH5*4S2E,TI3-*4
MS2E,TI3-*4S2E,TI3-*4S2E,TI3-*4S2E,TI3-*4S2E,TI3-*4S2E,TI3-*4
MS2E,TI3-*YCKTG4VO-,Z*1XXD=7Y8N8\N[;.&D'W*7Y?55YV1',;5Q/4ZGN'
M^L5T*E*4I6HZGTY>;PN?$8O,=JT7)E+,IEV(''&TC(46E@@`J!_M!6#R/2K5
M6BY3LX1I%S:7I]$YVX)B!DA[O'`O*"YNQL"G%*'AST&>.;K3.F;E;;A%E72[
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MKD7,V,C8TYO5X4\\8S@]3U%1LZ=L[*[BMJ'M5<01*/>+/>`YSY\?*/3%1.:5
ML+EI:LZX.8+3A<0UWJ^%'/.=V?,^=7+MCM;UTC75R+F;&1L:<WJ\*>>,9P>I
MZBHV=.V=E=Q6U#VJN((E'O%GO`<Y\^/E'IBHG-*V%RTM6=<',%IPN(:[U?"C
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M,C8TYO5X4\\8S@]3U%1LZ=L[*[BMJ'M5<01*/>+/>`YSY\?*/3%1.:5L+EI:
MLZX.8+3A<0UWJ^%'/.=V?,^=7+MCM;UTC75R+F;&1L:<WJ\*>>,9P>IZBHV=
M.V=E=Q6U#VJN((E'O%GO`<Y\^/E'IBHG-*V%RTM6=<',%IPN(:[U?"CGG.[/
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MO5X4\\8S@]3U%1LZ=L[*[BMJ'M5<01*/>+/>`YSY\?*/3%1.:5L+EI:LZX.8
M+3A<0UWJ^%'/.=V?,^=7+MCM;UTC75R+F;&1L:<WJ\*>>,9P>IZBHV=.V=E=
MQ6U#VJN((E'O%GO`<Y\^/E'IBHG-*V%RTM6=<',%IPN(:[U?"CGG.[/F?.KE
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M\8S@]3U%1LZ=L[*[BMJ'M5<01*/>+/>`YSY\?*/3%1.:5L+EI:LZX.8+3A<0
MUWJ^%'/.=V?,^=7+MCM;UTC75R+F;&1L:<WJ\*>>,9P>IZBHV=.V=E=Q6U#V
MJN((E'O%GO`<Y\^/E'IBHG-*V%RTM6=<',%IPN(:[U?"CGG.[/F?.KEVQVMZ
MZ1KJY%S-C(V-.;U>%//&,X/4]14;.G;.RNXK:A[57$$2CWBSW@.<^?'RCTQ4
M3FE;"Y:6K.N#F"TX7$-=ZOA1SSG=GS/G5R[8[6]=(UU<BYFQD;&G-ZO"GGC&
M<'J>HJ-G3MG97<5M0]JKB")1[Q9[P'.?/CY1Z8J)S2MA<M+5G7!S!:<+B&N]
M7PHYYSNSYGSJ:7:+0)S-[DL!,B$UA#Q<4`V@`^6<=">HKG_9):HUYCZEUA*C
M$-ZDEN!EM14"(B24I'7(W'<>/=BK_L88:BVW5$5A&QEG4D]M"<DX2%)`&3S7
M1Z5K]WUEI6RS3!NVH+="E!(46GWPA0!Z'!JNSZNTO>W_`&>TZ@MLU_\`\)B2
ME2S_`/+G-9VE*4KGO;G_`%9W3^^B?K+5="I2E*4I2E*4I2E*4I2E*4I2E*4I
M2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4KGO;)<)*--L:<MJ]MTU#)1;F<=
M4H5\ZOZ@C(/UUNUHM\:TVJ':X:-D:(RAEM/HE(`'_:M)[(OZ-J[_`!/</]8K
MH5*X%=;3;+U_*1,&[06)L4VD*++Z`M)(1P<&K[MD[.=.VW2$G4NF[>U:+M:2
MB0T[#_FMP"AD$#C/.0>N173]!WAV_P"C;)>7\=_+B-N.X&!OQA7^8-;!2E*Y
M[VY_U9W3^^B?K+5="I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E
M*4I2E*4I2E*4I2E*4KF-H_\`>KM>N5V4-UNTNS[!&/D93G+JA[TI\/V5TZN>
M]D7]&U=_B>X?ZQ70J5\^7^^VG3G\HPW.]341(:;2E!=6DD;BC@<`FKKM5[3+
M'J?3;ND-&/.WB[W92&$I896`A.X$Y*@,D@8]V23C%=>T79CI[2EHLBE!2X<5
MMI:AT4H#Q$>[.:S=*4KGO;G_`%9W3^^B?K+5="I2E*4I2E*4I2E*4I2E*4I2
ME*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*5@=;W]G2^E+I?7L?[*P5-I/
M]MP\(3^E1`K&]EE@=T]HN!&F9-QDYF35J^4I]P[E9]XR!^BMPKGO9%_1M7?X
MGN'^L5T*E8:Y:6TU=91F7/3]LF22D)+TB*AQ9`Z#)&<"IK58+'9U*5:;-`@J
M4,*,:.ALGZRD"LG2E*5SWMS_`*L[I_?1/UEJNA4I2E*4I2E*4I2E*4I2E*4I
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MI2E*H=<0RTMUU80VA)4I1.``.IKFW9&VN\OW_7TE"@N^2BB&%#E$1HE#8]V2
M"3]0KIE*Y[V1?T;5W^)[A_K%="I7#]*I0Y_*5U<J:,OMV]'LP5Y)VL@X_0?\
MS7:Y*&7([K<@)+*D$+"NA21SG]%<9_DO%?P,NZ$E1B)NK@8)]-B,X_RKM=:G
MJS5#]IG6^WVV(B4^Y)CB6I9(3&8<>2T%''52E*PD>Y1Z#G&.:NNT>2;I)9B?
MD!5RD6Y+2$*]H26@L=[NW;2"MI0V[1@$')Y%7NEK]?)4^!'O34()NEN-PC>S
M(4DL`*0%-+W*.\@.H\0VY.[CI6/[=..S*Z$_^-$_66ZWHS(B60^J4R&B=H67
M!M)],U69,=+R&5/MAU8RE!6-RA[A7B9491="9#1+7SF%CP?7Z529L,,A\RF0
MRHX"RX-I/IG.*K,F.EY#*GVPZL92@K&Y0]PKQ,J,HNA,AHEKYS"QX/K]*I,V
M&&0^93(94<!9<&TGTSG%5F3'2\AE3[8=6,I05C<H>X5XF5&470F0T2U\YA8\
M'U^E4F;##(?,ID,J.`LN#:3Z9SBJS)CI>0RI]L.K&4H*QN4/<*\3*C*+H3(:
M):^<PL>#Z_2J3-AAD/F4R&5'`67!M)],YQ59DQTO(94^V'5C*4%8W*'N%>)E
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M`LN#:3Z9SBJS)CI>0RI]L.K&4H*QN4/<*\3*C*+H3(:):^<PL>#Z_2J3-AAD
M/F4R&5'`67!M)],YQ59DQTO(94^V'5C*4%8W*'N%>)E1E%T)D-$M?.86/!]?
MI5)FPPR'S*9#*C@++@VD^F<XJLR8Z7D,J?;#JQE*"L;E#W"O$RHRBZ$R&B6O
MG,+'@^OTJDS889#YE,AE1P%EP;2?3.<569,=+R&5/MAU8RE!6-RA[A7B9491
M="9#1+7SF%CP?7Z529L,,A\RF0RHX"RX-I/IG.*K,F.EY#*GVPZL92@K&Y0]
MPKQ,J,HNA,AHEKYS"QX/K]*I,V&&0^93(94<!9<&TGTSG%5F3'2\AE3[8=6,
MI05C<H>X5XF5&470F0T2U\YA8\'U^E4F;##(?,ID,J.`LN#:3Z9SBJS)CI>0
MRI]L.K&4H*QN4/<*\3*C*+H3(:):^<PL>#Z_2J3-AAD/F4R&5'`67!M)],YQ
M59DQTO(94^V'5C*4%8W*'N%>)E1E%T)D-$M?.86/!]?I5)FPPR'S*9#*C@++
M@VD^F<XJLR8Z7D,J?;#JQE*"L;E#W"O$RHRBZ$R&B6OG,+'@^OTJDS889#YE
M,AE1P%EP;2?3.<569,=+R&5/MAU8RE!6-RA[A7B9491="9#1+7SF%CP?7Z52
M9L,,A\RF0RHX"RX-I/IG.*K,F.EY#*GVPZL92@K&Y0]PKQ,J,HNA,AHEKYS"
MQX/K]*I,V&&0^93(94<!9<&TGTSG%5F3'2\AE3[8=6,I05C<H>X5XF5&470F
M0T2U\YA8\'U^E4F;##(?,ID,J.`LN#:3Z9SBJS)CI>0RI]L.K&4H*QN4/<*\
M3*C*+H3(:):^<PL>#Z_2J3-AAD/F4R&5'`67!M)],YQ59DQTO(94^V'5C*4%
M8W*'N%>)E1E%T)D-$M?.86/!]?I5)FPPR'S*9#*C@++@VD^F<XJLR8Z7D,J?
M;#JQE*"L;E#W"N?=L-Z(TT-.VJ4U^5+Y(3;6]JP2TE7SBE<\`(!SZ9K<;.U:
MK-8X,*)(81!BM)CM*WI"2$C'7IGBL@9,=+R&5/MAU8RE!6-RA[A7B9491="9
M#1+7SF%CP?7Z5H78^I*X>K%H4%)5J:X$$'((WBNATKE?:3H&]3=10M;:)G-0
M]11$!MQMXX;DH&<`GIG!(P>",<C&:P5T';EJJ$NQ2;39[!%D)[N1-;?W**#P
MH)PM1&1GH,^\5U#0VEX6CM,P[#!45H8!+CI&"ZX>5*(]Y\O(`#RK8:U/4N@]
M/:@?7*E1`B6XZRXX^A2@I8;4DA)`('(3MSU`/%0#1"3<4AVYN.61$MR<BVEH
M##RTJ"LN9R496M03CJ>I``JYTUI1^T3F)4R\NW#V.'[!!2IE+?<L[DD[B#XU
MG8@%7'">G)K#]NH"NS*ZI4`07HH(/F/:6ZVY=@L3D!%N79;>J"A96B,8J"VE
M1SR$XP#R>?>:G<M5L<FLSW+=$7,83M:D*927&QSPE6,@<GIZFJ&[+9VE3%-V
MJ$A4T$2BF.@%\'.=_'BZGKGJ:H78+$N`BW+LMO5!;65HC&*@MI5SR$XP#R><
M>9J9RU6QR:S/<MT1<QA.UJ0IE)<;'/"58R!R>GJ:H;LMG:5,4W:H2%301**8
MZ`7P<YW\>+J>N>IJA=@L2X"+<NRV]4%M96B,8J"VE7/(3C`/)YQYFIG+5;')
MK,]RW1%S&$[6I"F4EQL<\)5C(')Z>IJANRV=I4Q3=JA(5-!$HICH!?!SG?QX
MNIZYZFJ%V"Q+@(MR[+;U06UE:(QBH+:5<\A.,`\GG'F:F<M5L<FLSW+=$7,8
M3M:D*927&QSPE6,@<GIZFJ&[+9VE3%-VJ$A4T$2BF.@%\'.=_'BZGKGJ:H78
M+$N`BW+LMO5!;65HC&*@MI5SR$XP#R><>9J9RU6QR:S/<MT1<QA.UJ0IE)<;
M'/"58R!R>GJ:H;LMG:5,4W:H2%301**8Z`7P<YW\>+J>N>IJA=@L2X"+<NRV
M]4%M96B,8J"VE7/(3C`/)YQYFIG+5;')K,]RW1%S&$[6I"F4EQL<\)5C(')Z
M>IJANRV=I4Q3=JA(5-!$HICH!?!SG?QXNIZYZFJ%V"Q+@(MR[+;U06UE:(QB
MH+:5<\A.,`\GG'F:F<M5L<FLSW+=$7,83M:D*927&QSPE6,@<GIZFJ&[+9VE
M3%-VJ$A4T$2BF.@%\'.=_'BZGKGJ:H78+$N`BW+LMO5!;65HC&*@MI5SR$XP
M#R><>9J9RU6QR:S/<MT1<QA.UJ0IE)<;'/"58R!R>GJ:H;LMG:5,4W:H2%30
M1**8Z`7P<YW\>+J>N>IJA=@L2X"+<NRV]4%M96B,8J"VE7/(3C`/)YQYFIG+
M5;')K,]RW1%S&$[6I"F4EQL<\)5C(')Z>IJANRV=I4Q3=JA(5-!$HICH!?!S
MG?QXNIZYZFJ%V"Q+@(MR[+;U06UE:(QBH+:5<\A.,`\GG'F:F<M5L<FLSW+=
M$7,83M:D*927&QSPE6,@<GIZFJ&[+9VE3%-VJ$A4T$2BF.@%\'.=_'BZGKGJ
M:H78+$N`BW+LMO5!;65HC&*@MI5SR$XP#R><>9J9RU6QR:S/<MT1<QA.UJ0I
ME)<;'/"58R!R>GJ:H;LMG:5,4W:H2%301**8Z`7P<YW\>+J>N>IJA=@L2X"+
M<NRV]4%M96B,8J"VE7/(3C`/)YQYFIG+5;')K,]RW1%S&$[6I"F4EQL<\)5C
M(')Z>IJANRV=I4Q3=JA(5-!$HICH!?!SG?QXNIZYZFJ%V"Q+@(MR[+;U06UE
M:(QBH+:5<\A.,`\GG'F:F<M5L<FLSW+=$7,83M:D*927&QSPE6,@<GIZFJ&[
M+9VE3%-VJ$A4T$2BF.@%\'.=_'BZGKGJ:H78+$N`BW+LMO5!;65HC&*@MI5S
MR$XP#R><>9J9RU6QR:S/<MT1<QA.UJ0IE)<;'/"58R!R>GJ:H;LMG:5,4W:H
M2%301**8Z`7P<YW\>+J>N>IJA=@L2X"+<NRV]4%M96B,8J"VE7/(3C`/)YQY
MFIG+5;')K,]RW1%S&$[6I"F4EQL<\)5C(')Z>IJANRV=I4Q3=JA(5-!$HICH
M!?!SG?QXNIZYZFJ%V"Q+@(MR[+;U06UE:(QBH+:5<\A.,`\GG'F:F<M5L<FL
MSW+=$7,83M:D*927&QSPE6,@<GIZFJ&[+9VE3%-VJ$A4T$2BF.@%\'.=_'BZ
MGKGJ:H78+$N`BW+LMO5!;65HC&*@MI5SR$XP#R><>9J9RU6QR:S/<MT1<QA.
MUJ0IE)<;'/"58R!R>GJ:H;LMG:5,4W:H2%301**8Z`7P<YW\>+J>N>IJA=@L
M2X"+<NRV]4%M96B,8J"VE7/(3C`/)YQYFIG+5;')K,]RW1%S&$[6I"F4EQL<
M\)5C(')Z>IJANRV=I4Q3=JA(5-!$HICH!?!SG?QXNIZYZFJ%V"Q+@(MR[+;U
M06UE:(QBH+:5<\A.,`\GG'F:F<M5L<FLSW+=$7,83M:D*927&QSPE6,@<GIZ
MFJ&[+9VE3%-VJ$A4T$2BF.@%\'.=_'BZGKGJ:H78+$N`BW+LMO5!;65HC&*@
MMI5SR$XP#R><>9J9RU6QR:S/<MT1<QA.UJ0IE)<;'/"58R!R>GJ:H;LMG:5,
M4W:H2%301**8Z`7P<YW\>+J>N>IJA=@L2X"+<NRV]4%M96B,8J"VE7/(3C`/
M)YQYFIG+5;')K,]RW1%S&$[6I"F4EQL<\)5C(')Z>IJANRV=I4Q3=JA(5-!$
MHICH!?!SG?QXNIZYZFJ%V"Q+@(MR[+;U06UE:(QBH+:5<\A.,`\GG'F:F<M5
ML<FLSW+=$7,83M:D*927&QSPE6,@<GIZFJ&[+9VE3%-VJ$A4T$2BF.@%\'.=
M_'BZGKGJ:H78+$N`BW+LMO5!;65HC&*@MI5SR$XP#R><>9J9RU6QR:S/<MT1
M<QA.UJ0IE)<;'/"58R!R>GJ:H;LMG:5,4W:H2%301**8Z`7P<YW\>+J>N>IJ
MA=@L2X"+<NRV]4%M96B,8J"VE7/(3C`/)YQYFIG+5:W)K-P<MT1<QA.UJ0IE
M)<;'/"58R!R>GJ:YA9K1:M2]K]\N;=KABW6-@PB4L(`DRW<EY2N/$0DE)SZ^
M^NDKL%B7`;MJ[+;U06UE:(QBH+:5<\A.,`\GG'F:F<M5L<FLSW+=$7,83M:D
M*927&QSPE6,@<GIZFJ&[-9VE3%-VJ$A4P$2BF.@%\'.=_'BZGKGJ:TKL;::C
MP-5,,-(:9:U+/0AM"0E*$A:0``.`!Z5T6E1K>9;6AM;J$K7\E)4`5?5ZU)2E
M*4KGO;G_`%9W3^^B?K+5="I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E
M*4I2E*4I2E*4I2E*4I2E8+6M^9TQI6Z7U[!$1A2T)/\`;<Z(3^E1`K%]E=A>
MT_HN"Q,)5<I>Z;-6KJI]T[E9]XR!^BMQI2N>]D7]&U=_B>X?ZQ70J5Q'M>_K
M;[,/^K5_^HW7;AT%*4I2N>]N?]6=T_OHGZRU70J4I2E*4I2E*4I2E*4I2E*4
MI2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I7,>T#_WEUSIG1"/'$97^5[F/
M+NFSAM!]RE^7U5TZE*5SWLB_HVKO\3W#_6*Z%2N&]LS[,;M4[-)$AYMEEN4I
M2W'%!*4@.-Y))X`KJZ=5:7)"1J.T$G@`36^3_P#56;I2E*Y[VY_U9W3^^B?K
M+5="I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I
M2J77$--K<<4$H2"I2B<``=37->R-M=ZE:AU_)0K=>Y9;A;NJ(C1*$8],D$GZ
MA73*4I7/>R+^C:N_Q/</]8KH5*UC5NA=+ZP=BNZAMGMBXJ5):/?.(VA1!/R5
M#/0=:P#?8OV;-.(<1IW"T*"@?:WN"#G_`(ZZ-2E*5SWMS_JSNG]]$_66JZ%2
ME*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E<_[8
M[E)9TNBPVQ>+KJ"0BVQ\=4A?SBOJ",\^\5N5DML:S6B%:H2=L:(RAEL>Y(Q5
M]2E*Y[V1?T;5W^)[A_K%="I6EZMURUIS5>FM.KMRY"KVZ6DO!T)#.%)&2,'/
MRO4=*W2E*4I7/>W/^K.Z?WT3]9:KH5*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E
M*4I2E*4I2E*4I2E*4I2E*4I2E*5S&W?^]7;!.N)&^VZ58]C8/4*ENC+BA[TI
M\/V5TZE*4KGO9%_1M7?XGN'^L5T*E<1[7OZV^S#_`*M7_P"HW7;AT%*5S_7M
MVU#9'EW-BX)CP6RRB/'3$[Y#ZRK^<+[F/YE`!`"L@#DDGI5N]J2^17?A`]*;
M<M2[K)MXMR6DC:VWWB4N!SY6\K:R0>,*QC(R;_25SOQN5L8O$]J8B[VLW!*4
M,);]E6E3>YM./E(P\,$Y.4GGGBV[=2$]F-U42``]%))\A[2W6WKO]B;@(N*[
MU;DP5K*$252D!M2N>`K.">#Q[C4SEUMC<UF`Y<8B)CZ=S4=3R0XXGGE*<Y(X
M/3T-4-WFSNJF);NL):H0)E!,A!+`&<[^?#T/7'0U0N_V)$!%R7>K<F"XO8B2
M92`VI7/`5G!/!X]QJ9RZVQN:S`<N,1$Q].YJ.IY(<<3SRE.<D<'IZ&J&[S9W
M53$MW6$M4($R@F0@E@#.=_/AZ'KCH:H7?[$B`BY+O5N3!<7L1),I`;4KG@*S
M@G@\>XU,Y=;8W-9@.7&(B8^G<U'4\D..)YY2G.2.#T]#5#=YL[JIB6[K"6J$
M"903(02P!G._GP]#UQT-4+O]B1`1<EWJW)@N+V(DF4@-J5SP%9P3P>/<:F<N
MML;FLP'+C$1,?3N:CJ>2''$\\I3G)'!Z>AJAN\V=U4Q+=UA+5"!,H)D()8`S
MG?SX>AZXZ&J%W^Q(@(N2[U;DP7%[$23*0&U*YX"LX)X/'N-3.76V-S68#EQB
M(F/IW-1U/)#CB>>4ISDC@]/0U0W>;.ZJ8ENZPEJA`F4$R$$L`9SOY\/0]<=#
M5"[_`&)$!%R7>K<F"XO8B292`VI7/`5G!/!X]QJ9RZVQN:S`<N,1$Q].YJ.I
MY(<<3SRE.<D<'IZ&J&[S9W53$MW6$M4($R@F0@E@#.=_/AZ'KCH:H7?[$B`B
MY+O5N3!<7L1),I`;4KG@*S@G@\>XU,Y=;8W-9@.7&(B8^G<U'4\D..)YY2G.
M2.#T]#5#=YL[JIB6[K"6J$"903(02P!G._GP]#UQT-4+O]B1`1<EWJW)@N+V
M(DF4@-J5SP%9P3P>/<:F<NML;FLP'+C$1,?3N:CJ>2''$\\I3G)'!Z>AJAN\
MV=U4Q+=UA+5"!,H)D()8`SG?SX>AZXZ&J%W^Q(@(N2[U;DP7%[$23*0&U*YX
M"LX)X/'N-3.76V-S68#EQB(F/IW-1U/)#CB>>4ISDC@]/0U0W>;.ZJ8ENZPE
MJA`F4$R$$L`9SOY\/0]<=#5"[_8D0$7)=ZMR8+B]B))E(#:E<\!6<$\'CW&I
MG+K;&YK,!RXQ$3'T[FHZGDAQQ//*4YR1P>GH:H;O-G=5,2W=82U0@3*"9""6
M`,YW\^'H>N.AJA=_L2("+DN]6Y,%Q>Q$DRD!M2N>`K.">#Q[C4SEUMC<UF`Y
M<8B)CZ=S4=3R0XXGGE*<Y(X/3T-4-WFSNJF);NL):H0)E!,A!+`&<[^?#T/7
M'0U0N_V)$!%R7>K<F"XO8B292`VI7/`5G!/!X]QJ9RZVQN:S`<N,1$Q].YJ.
MIY(<<3SRE.<D<'IZ&J&[S9W53$MW6$M4($R@F0@E@#.=_/AZ'KCH:H7?[$B`
MBY+O5N3!<7L1),I`;4KG@*S@G@\>XU,Y=;8W-9@.7&(B8^G<U'4\D..)YY2G
M.2.#T]#5#=YL[JIB6[K"6J$"903(02P!G._GP]#UQT-4+O\`8D0$7)=ZMR8+
MB]B))E(#:E<\!6<$\'CW&IG+K;&YK,!RXQ$3'T[FHZGDAQQ//*4YR1P>GH:H
M;O-G=5,2W=82U0@3*"9""6`,YW\^'H>N.AJA=_L2("+DN]6Y,%Q>Q$DRD!M2
MN>`K.">#Q[C4SEUMC<UF`Y<8B)CZ=S4=3R0XXGGE*<Y(X/3T-4-WFSNJF);N
ML):H0)E!,A!+`&<[^?#T/7'0U0N_V)$!%R7>K<F"XO8B292`VI7/`5G!/!X]
MQJ9RZVQN:S`<N,1$Q].YJ.IY(<<3SRE.<D<'IZ&J&[S9W53$MW6$M4($R@F0
M@E@#.=_/AZ'KCH:H7?[$B`BY+O5N3!<7L1),I`;4KG@*S@G@\>XU,Y=;8W-9
M@.7&(B8^G<U'4\D..)YY2G.2.#T]#5#=YL[JIB6[K"6J$"903(02P!G._GP]
M#UQT-4+O]B1`1<EWJW)@N+V(DF4@-J5SP%9P3P>/<:F<NML;FLP'+C$1,?3N
M:CJ>2''$\\I3G)'!Z>AJAN\V=U4Q+=UA+5"!,H)D()8`SG?SX>AZXZ&J%W^Q
M(@(N2[U;DP7%[$23*0&U*YX"LX)X/'N-3.76V-S68#EQB(F/IW-1U/)#CB>>
M4ISDC@]/0U0W>;.ZJ8ENZPEJA`F4$R$$L`9SOY\/0]<=#5"[_8D0$7)=ZMR8
M+B]B))E(#:E<\!6<$\'CW&IG+K;&YK,!RXQ$3'T[FHZGDAQQ//*4YR1P>GH:
MH;O-G=5,2W=82U0@3*"9""6`,YW\^'H>N.AJRNNI;1$T^_>6;M;E,!"PP\J0
M@MN.!)(2%9P3D=`<]:^9O_:,UMC_`/#;'G'_`(#O[ROI;3.IK;=[#&N"KE`4
M^(;<B8EI])#!4@%6[D[0#GKZ5>KO]B1`1<5WJW)@N+*$23*0&U*YX"LX)X/'
MNJ9RZVQN:S`<N,1$Q].YJ.IY(<<3SRE.<D<'IZ&J&[S9W53$MW6$M4($R@F0
M@E@#.=_/AZ'KCH:H7?[$B`BY+O5N3!<7L1),I`;4KG@*S@G@\>XU,Y=;8W-9
M@.7&(B8^G<U'4\D..)YY2G.2.#T]#6%U1K&SV;3U\NC5PB27K6RI3C+3R5J2
MYG:A"@#E)*L#FL#V6_DG3?9[;YERO,!+T]Q<J9+<DH"')+A*E)W9P5#&W'_E
M-;PY=;8W-9@.7&(B8^G<U'4\D..)YY2G.2.#T]#5#=YL[JIB6[K"6J$"903(
M02P!G._GP]#UQT-4+O\`8D0$7)=ZMR8+B]B))E(#:E<\!6<$\'CW&IG+K;&Y
MK,!RXQ$3'T[FHZGDAQQ//*4YR1P>GH:H;O-G=5,2U=82U0@3*"9""6`,YW\^
M'&#UQT-:5V-NM2(&JGV'4.LN:EGK0XA04E:2M)!!'4&NBTKBW;5:M2NZQT;?
M]/V"1=OR4MQYQMHX&0M!"2?+.#4[/:!VG+=;0YV4R$(*@%*]JZ#/7Y-=BI6L
M7G1\2Z39<A5QN,9F<A#<Z*PZD-2TIX`5E)4GCPG84Y'!JE.B[;^5A.5)EKBB
M2N8FW*4DQTOK24J<QMW9(4HX*MN5$XS4NGM)0['+3*1.G2U,QA#BB4XE0BL;
M@>[1A(R.$\JRK"4C/%8'MTY[,KH#_P"-$_66ZWHPXBF0PJ*R6@<A!;&T'UQ5
M9CQU.H>4PV74#"5E`R![C7B8L9)=*8[0+OSF$#Q_7ZU28<0LA@Q62TDY""V-
MH/KC%5F/'4ZAY3#9=0,)64#('N->)BQDETICM`N_.80/']?K5)AQ"R&#%9+2
M3D(+8V@^N,568\=3J'E,-EU`PE90,@>XUXF+&272F.T"[\YA`\?U^M4F'$+(
M8,5DM).0@MC:#ZXQ59CQU.H>4PV74#"5E`R![C7B8L9)=*8[0+OSF$#Q_7ZU
M28<0LA@Q62TDY""V-H/KC%5F/'4ZAY3#9=0,)64#('N->)BQDETICM`N_.80
M/']?K5)AQ"R&#%9+23D(+8V@^N,568\=3J'E,-EU`PE90,@>XUXF+&272F.T
M"[\YA`\?U^M4F'$+(8,5DM).0@MC:#ZXQ59CQU.H>4PV74#"5E`R![C7B8L9
M)=*8[0+OSF$#Q_7ZU28<0LA@Q62TDY""V-H/KC%5F/'4ZAY3#9=0,)64#('N
M->)BQDETICM`N_.80/']?K5)AQ"R&#%9+23D(+8V@^N,568\=3J'E,-EU`PE
M90,@>XUXF+&272F.T"[\YA`\?U^M4F'$+(8,5DM).0@MC:#ZXQ59CQU.H>4P
MV74#"5E`R![C7B8L9)=*8[0+OSF$#Q_7ZU28<0LA@Q62TDY""V-H/KC%5F/'
M4ZAY3#9=0,)64#('N->)BQDETICM`N_.80/']?K5)AQ"R&#%9+23D(+8V@^N
M,568\=3J'E,-EU`PE90,@>XUXF+&272F.T"[\YA`\?U^M4F'$+(8,5DM).0@
MMC:#ZXQ59CQU.H>4PV74#"5E`R![C7B8L9)=*8[0+OSF$#Q_7ZU28<0LA@Q6
M2TDY""V-H/KC%5F/'4ZAY3#9=0,)64#('N->)BQDETICM`N_.80/']?K5)AQ
M"R&#%9+23D(+8V@^N,568\=3J'E,-EU`PE90,@>XUXF+&272F.T"[\YA`\?U
M^M4F'$+(8,5DM).0@MC:#ZXQ59CQU.H>4PV74#"5E`R![C7B8L9)=*8[0+OS
MF$#Q_7ZU28<0LA@Q62TDY""V-H/KC%5F/'4ZAY3#9=0,)64#('N->)BQDETI
MCM`N_.80/']?K5)AQ"R&#%9+23D(+8V@^N,568\=3J'E,-EU`PE90,@>XUXF
M+&272F.T"[\YA`\?U^M4F'$+(8,5DM).0@MC:#ZXQ59CQU.H>4PV74#"5E`R
M![C7B8L9)=*8[0+OSF$#Q_7ZU28<0LA@Q62TDY""V-H/KC%5F/'4ZAY3#9=0
M,)64#('N-6=Q?M%HA2[A<%Q(D4))?>=VH21_YCY]?TUS"5=[_P!H;#EKT3;F
MK7IH[DKO<Z,/YT$$'N&2.<Y/B/OZ&M$_]FF=]+(_W)7_`-]=,C]B^CFH,=#3
M4N%/2PAMZ7;Y;C)=4$@*5MR1R<G&/.BNSK4D%D,V/M#N`83RF/=(;,Q'^8&/
MK%>EOM9MSR7G+?I2_!L80MLKBOX^M64BO$ZXN]M[PW_LNO<7O.'7+<EN:A7J
M248..O6IXG:AV<R`F#+FHMZP<^S7"&MC:?7Q)VC[:S=UUEI"%99.I4SH5P8A
M-A2E0EMO.!)4$C&#ZJ]17%]7=J6D-77G3=HAQ9C5J7<D2+ENC)2I_:?YM&`K
MQ`J/.3]M?1IAQ%,AE45DM`[@@MC:#ZXJLQXZG4/*8;+J!A*R@9`]QKQ,6,DN
ME,=H%WYS"!X_K]:I,.(60P8K):2<A!;&T'UQBJS'CJ=0\IALNH&$K*!D#W&O
M$Q8R2Z4QV@7?G,('C^OUK0NQ]*40]6(0D)2G4UP``&`!O%=#I0XKS`]*]I2E
M*Y[VY_U9W3^^B?K+5="I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I
M2E*4I2E:+JOM"A6NX?D"Q0W;]J5?";?$/#7O=7T;`]_/U=:QEL[/[A?IS5\[
M2)S=TDH.^/:6<B%$/_+_`/$5[S_G72T(0VA*$)"4I&``,`#TJJE*4P*MYD*'
M-:+,R*S(:/5#S86#^@URSM5[,=.S-'W5^P:4B"]A"3&]C:[M15O3GA.`>,]:
M^?;'V8Z^CWNWOO:6N"&FY+2E**!@`+!)ZU]NBE*4I7/>R+^C:N_Q/</]8KH5
M*YSVYZC?T]H&6(+JT7*XK3"BEM6%A2_E$8YR$A6"/,BM>[$KA=[3?]2:!U'<
M'I=P@J1*9<><*RM"DIW8*CG`R@_I-=GI2E*Y[VY_U9W3^^B?K+5="I2E*4I2
ME*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I6+U#?[/IRVN7*]3V8<5']
MIP\J/HD=5'W#FN>>V:U[1CMMHDZ5THOK,<3B=,3_`.1/_P`))]>OU]*WK2FE
M+%I2W^PV2"AA"N77#XG'E?\`$M1Y4?\`^#%9VE*4I2E*8'I2E*4I7/>R+^C:
MN_Q/</\`6*Z%2OG?M2NEWOW:_:+58+*J]_!E"9CT-+J4)4Z2E62H\#'\W^G(
MK%:@OVJK1VF:<UYJ+22M/QU*3;Y2_:4O)>0K.2<="$G/OVCTKZ<!!`(.0?.O
M:4I7/>W/^K.Z?WT3]9:KH5*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I
M2E*4I2N>S>V+L[@S)$*5J#NY$=Q33B/9'CM4DD$9"/458RNU-B^*1;NSF`Y?
M[FZG)=6VMF-$&<;G5*`/_P`HZ^M7NGNSL&Y(U%K6>=07X<MEU/\`LT3SPRWT
M&/\`B(SQG`-=#I2E*4I2E*4I2E*Q6H-06?3L!<^\W!B(PD$@NK`*\>21U4?<
M*Y5_)XU=#OS>IXG=]Q-<NCUR[HJSEMY0Z?\`*1@_6*[52M1TEH6V:9N]XO+,
MN9-N-V6%R'Y:DD\$G"=J1@$G_(>E7FN-)6O6EA<LEV4\B.IQ#@6P0%H4D\$$
M@CS(Z=":R]JA"W6R);TONOIC,H:#KQ!6L)``*B`,GCFKNE*5SWMS_JSNG]]$
M_66JZ%2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*5:72XP;5`?N
M-RE-QHC"=[KKBL)2!_\`SIYU\)7ZRWR\7VY7:VV*ZR(,V6[(8=1"<(6VI9*2
M/#Y@U]9=@UN=MO9A:&9,%<24I3RGD.-%M9/>JP5`@'.,=?+%=&I2E*M#<8(N
M:;49+8GJ9,A+&?$6PH)*L>F2!5W2E*4I2E*U35.OM+Z8<$>X7%+D]1PB#%27
MI"SY`(3R,^_%7Q=G:BTIWT!R98ILR/EI4B."]%4?^)!XR/2M'G=BFFKI#<3>
M;G>+A<W5)4Y<GY`4]@'.U(4"E*?J&??6N=B79W:K=>;M?XEPN*)-LN\RVH;[
MQ!;>900D!8VY)YSP1R!7>*5SW5O:OIK2M^58KC'N;LQ+272(T<.#:H9']H'_
M`"JPMO;=HB;<6(#R[A;UO$)0Y-B]V@D\#)!./K/%=1I2E*Y[VY_U9W3^^B?K
M+5="I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E8756I;1I6TN72
M\R@RRD[4('*W5^2$)_M*/I_^U:%:M.7G7]P9U#KJ.N)9FE=Y;M/$\>YR1_Q*
M]$^7NY!ZLE*4I"4C"0,`#@"O:4K#7G5&G;&DF[WRWPB/[+TA*5'ZDYR?LKW3
M6I+-JB`NX6*:)<1#JF2XE"DC>,9`W`9ZCGI6G2[YVHSE/"W:3M-GCH*A[3=9
MQ>)2/[6QH9''-?/,;5VMT=I436<^'.EN,+#2@U#6VA<?D%*4XX!!)Y\SFOJ3
M4MYU1&9@3=+:=8O45ULN.H7+$9P`@%.W<,="<YK!M]IQBN(9U!HO4UJ6HA/>
M&'W[63Y!:"<_96_S)L."P'YTIB,R5!.]]P(3D]!D^9J5IUMY`<:<2M!Z*2<@
M_I%5TI5+BT-H4XXI*4)&5*4<`#U)KGUU[4K*F6NUZ8BRM3W4<=Q;$[VT'_SN
M_)2/>,UL]QMS^I-,"%/<G6=^4T@O"')"76%<%2`X,@^:2?,5;Z6T3IG2J#^1
M;4RR^H>.2OQO.>N7%9/Z.E;)2N>]D7]&U=_B>X?ZQ70J5\ZZKU+;-)_RA57B
M[J>3$3:DMDM-E:LJ1QP*L>UGM`TYVBVVV:4T^RXNXR9K>R3-0&$,=1\I1ZG.
M/_\`N!7TA;V#%@QHRG"XIII+96>JL`#/^57%<]UO-O,6Z.)A7UUJ:II'Y)M4
M)I+JY+F?&M\%)(;S@;LI"1DYSBK)Z^WJ&1J5=S<=C+N\FWFV81W(:;[U"2#M
MW;]S043GH2,=*R6D)EY:NEH9N-X<N*+Q:#<%I<2@!AU*FLAO:D>`A[&#DC:.
M>34/;JH)[,;JI1PD/123Z#VENMH<U3IYJU-W=R\14V]UPM(D%?@4H9R`?7@_
M95R[?+2S<XUJ<N#"9TE&]E@J\3B>>0/T'[*C9U%9'EW!#5SCK5;@3+`7\P!G
M.[TZ'[*B<U3IUNU-7=R\14V]UPMHD%?@4H9X!]>#]E7+M\M+-SC6IRX,)G24
M;V6"KQ.)YY`_0?LJ-G45D>7<$-7..M5N!,L!?S`&<[O3H?LJ)S5.G6[4U=W+
MQ%3;W7"VB05^!2AG@'UX/V5<NWRTLW.-:G+@PF=)1O98*O$XGGD#]!^RHV=1
M61Y=P0U<XZU6X$RP%_,`9SN].A^RHG-4Z=;M35W<O$5-O=<+:)!7X%*&>`?7
M@_95R[?+2S<XUJ<N#"9TE&]E@J\3B>>0/T'[*C9U%9'EW!#5SCK5;@3+`7\P
M!G.[TZ'[*B<U3IUNU-7=R\14V]UPMHD%?@4H9X!]>#]E7+M\M+-SC6IRX,)G
M24;V6"KQ.)YY`_0?LJ-G45D>7<$-7..M5N!,L!?S`&<[O3H?LJ)S5.G6[4U=
MW+Q%3;W7"VB05^!2AG@'UX/V5<NWRTLW.-:G+@PF=)1O98*O$XGGD#]!^RHV
M=161Y=P0U<XZU6X$RP%_,`9SN].A^RHG-4Z=;M35W<O$5-O=<+:)!7X%*&>`
M?7@_95R[?+2S<XUJ<N#"9TE&]E@J\3B>>0/T'[*C9U%9'EW!#5SCK5;@3+`7
M\P!G.[TZ'[*B<U3IUNU-7=R\14V]UPMHD%?@4H9X!]>#]E7+M\M+-SC6IRX,
M)G24;V6"KQ.)YY`_0?LJ-G45D>7<$-7..M5N!,L!?S`&<[O3H?LJ)S5.G6[4
MU=W+Q%3;W7"VB05^!2AG@'UX/V5<NWRTLW.-:G+@PF=)1O98*O$XGGD#]!^R
MHV=161Y=P0U<XZU6X$RP%_,`9SN].A^RHG-4Z=;M35W<O$5-O=<+:)!7X%*&
M>`?7@_95R[?+2S<XUJ<N#"9TE&]E@J\3B>>0/T'[*C9U%9'EW!#5SCK5;@3+
M`7\P!G.[TZ'[*B<U3IUNU-7=R\14V]UPMHD%?@4H9X!]>#]E7+M\M+-SC6IR
MX,)G24;V6"KQ.)YY`_0?LJ-G45D>7<$-7..M5N!,L!?S`&<[O3H?LJ)S5.G6
M[4U=W+Q%3;W7"VB05^!2AG@'UX/V5<NWRTLW.-:G+@PF=)1O98*O$XGGD#]!
M^RHV=161Y=P0U<XZU6X$RP%_,`9SN].A^RHG-4Z=;M35W<O$5-O=<+:)!7X%
M*&>`?7@_95R[?+2S<XUJ<N#"9TE&]E@J\3B>>0/T'[*C9U%9'EW!#5SCK5;@
M3+`7\P!G.[TZ'[*B<U3IUNU-7=R\14V]UPMHD%?@4H9X!]>#]E7+M\M+-SC6
MIRX,)G24;V6"KQ.)YY`_0?LJ-G45D>7<$-7..M5N!,L!?S`&<[O3H?LJ)S5.
MG6[4U=W+Q%3;W7"VB05^!2AG@'UX/V5<NWRTLW.-:G+@PF=)1O98*O$XGGD#
M]!^RHV=161Y=P0U<XZU6X$RP%_,`9SN].A^RHG-4Z=;M35W<O$5-O=<+:)!7
MX%*&>`?7@_95R[?+2S<XUJ<N#"9TE&]E@J\3B>>0/T'[*C9U%9'E7!#5SCK5
M;@3+`7\P!G.[TZ'[*B<U3IUNU-7=R\14V]UPMHD%?@4H9X!]>#]E7+M\M+-S
MC6IRX,)G24;V6"KQ.)YY`_0?LJ-G45D>5<$-7.,M5N!,L!?S`&<[O3H?LK6M
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M=P\L;3]E4.:ITZW:FKNN[Q$V]UPMHD%?@4H9R`?7@_95R[>[0S<XUJ<N#"9T
ME&]E@K\3B>>0/T'[*C9U#9'E7!#5SCK5;@3+`7\P!G.[TZ'[*B<U3IUNU-7=
M=WB)M[KA;1(*_`I0SD`^O!^RH+^O2EW=CZ<OGL$MR4`ZS#D`**^N%`'ZE<_7
M6BC0?9R7[DO3UYG6.1`!5,5:KDXWW.,Y*DDD#Y)^RMK;O=MM6AVI$?5#$K#2
MF(USN+FY+KP"L%92.>1SCR%:LYK?7UEGQK9>-.V.ZS'T;VT6NY=TXXCGQ!MT
M9/0^?E6D67MOU!>M47:#:+="[N4D*@BXR0VW#2V@EQ2RGY><%6`?+BNN:BDZ
M-U%I*,[J2;">M#SR,K2^I+2W4Y)2%#!(R%<>8%9:WOZ7L3\/3MO,""Z\@+8A
MLI""L8/(`Z_)//NJY9U#9'E7!#5SC+5;@3+`7\P!G.[TZ'[*B<U3IUNU-7=R
M\14V]UPMHD%?@4H9X!]>#]E7+M\M+-SC6IRX,)G24;V6"KQ.)YY`_0?LJ-G4
M-D?7<$-7..M5N!,L!?S`&<[O3H?LK3NQA]F5;=42H[B7&'M23W&UI.0I)4D@
MC]%='I7%A#E'^4I[48KOLWY(V][W9V9V=,]*J_E+V=<W14&9"@J>FQ9Z"DM-
M%2P@I4"..<9V_8*Z];9`EV^+*!R'FD+!P1G*0?.KFM;GZ/MLR[R;N)5TC3)*
M&T/*BSW60M*`0D82<<9/VFJD:0LZ+V;MB2I7?*D",I]1CI>4DI4Z&^FX@GGW
MDXR2:JL&D[58I2I,,RG%AD1V?:)"G1'9!R&FP?DISCCW#G@5KO;G_5G=/[Z)
M^LM5T*E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*5JFJ-?Z3TM)$.\W9#
M,Q20M,9#:W'%`],)2#UQ7'>UGMI=3!BV[3<*[6Z4MYN09,V.6.\:2K("`3N(
M4I."3@8!'G778FH[GJ/0\&_Z0CP7YDM"5!J:ZI+;9Z+22GG*2"/T5B!'[8Y7
MSURTE;TGR88>>4!_\Q`]U6^H=6W:TP8VC8+Z=0ZZE-*2HQD!E$<'.'G,<-@`
MC`ZG`Z9K'6OL9"Y:;W?]8Z@DW]QH(D28DH,@\<I2=N[;T\QTZ#.*Z#I32UOT
MNQ(9@R)[_M"PMQ<R4I]1(&."KI^BK61H#1<JXR+E*TS;9$R0X7'77F`LJ4>I
MYR*Y7J7^3Z+W?9MT1J2/!:?<RW%CVP);90.$H`"P.`!SCGK7:-,VZ9:;!`MD
M^X?E"3%9#2I7=["Z$\`D9/.,9YY/-96E*4I2E*4JQO5N;N]IF6MY]]AJ4TIE
M;C"MJPE0P=IP<''G7-;5V%Z.M-SB7.#+O+4J*ZEYI8E)X4DY']CI76*4I2E<
M][(OZ-J[_$]P_P!8KH5*4X-*4I2N>]N?]6=T_OHGZRU70J4I2E*4I2E*4I2E
M*4I2E*4I2E*4I2E*4I6+U+>X6G;#/O<]1$:&R75`=58Z)'O)P![S7MLO<"XV
M"/?X[V8#T<20O&<(VY.0/,<Y'NK23VMV28=FG+-?[^HG`5`MZ^[_`$J7C`K:
M-)7>^WAB2]>M,NV,)6`PAV2AU;J<<J(3\GGC!K!7326L;M<I2W^T*7!M:W"6
M8MNAMM.(1G@%TY)./.LAI70=ITY<%W1J;=I]Q6V6E2;A.6\HI)!(QPGJ!Y5M
M!BQC(]I+#7?[=O>[!NQZ9ZXK6+_V=:,U#<G+I>K&W,F.)2E3JW7!P!@#`4`/
MT5EM.:=LVF("K?8X0AQ%.%PM)6I0W$`$C<3CH*TO4NL+I?+J]I'L^V.W!L[9
M]V4-T>W#S&>BW.N$_L.-ET3HZUZ1@K:B=Y(G2#OF3Y!W/2G/-2E>F2<#R^O)
MK9J4I2E*4I2E*4I2E*4I2E<][(OZ-J[_`!/</]8KH5*XQK74.I]0=IS79WIZ
M])L+#442),Q*`IUW*=VU&?<1T(/4YXQ42HW:3H'4MG)O5PU=I^<^&92%QE+>
MC9QX\C)`&<YSC@@CH:[92E*5SWMS_JSNG]]$_66JZ%2E*4I2E*4I2E*4I2E*
M4I2E*4I2E*4IFM2U/VA:1TQ+,&[79*)V`1%:;6ZZ<]/"D'K[ZLK)KN9?;K&C
M6[1=_1;W%X<N$UE,=M"<'Q!*CE0SC[:RNKK=JNX^R-:;U!&L[?B]I=<AB0X>
MFW8"<#SZ^ZN,]J'9=KVZ)AQK=>[KJ!*@5RES9K;3(5GPA#.0`>ISSY5N_878
MM8:8L,JP:H@H:C-.=Y#<3(0Y@*SO1A)X`/(_YC74TI2D!*0`!P`.E>TI2N6Z
MP[:M+Z3U%+L%Q@W5R5%V;UL--E!W)"A@E8/10\JQ,?5=Y[7`NVZ1$JR:=0=E
MRN;VT2%9&>Y:"20"1U5GH?+H>I::T_:=,VAFTV:&B-$:'"4\E1\U*/4D^IK+
M4I2E*4I2E*4I2E*4I2E*5SWLB_HVKO\`$]P_UBNA4KD6L],Z([1=5R;;&N\F
MWZOM#:2X]&0I*D(R"G.0`H#<.4G(SUK4+Y<^T;LAN%L?N>H_A)IV4^&5>T)_
MG$^9&22H';D@[B..17T6""`1T->TI2N>]N?]6=T_OHGZRU70J4I2E*4I2E*4
MI2E*4I2E*4I2E*4K0];=J&DM*1)(>NT>1<D-J+4)A7>+4O'"5;<[1GS.*P?8
M%KR3K'3LF+=7P[=X#I[U9/+K:R2E6/=RG]`]:RUPTWV@W:?),C73=KMI=5W3
M%L@I#I;SX=SBSD*QC..,UE=)Z'@Z<G.W(76\7.X.M%I<BXS%.DI)!P$\)'('
ME6SB+&$DRA':$@C:7=@W$>F>M38I2E*4K%7W4%DT_%]JO5TBP6?(ON!)5[@.
MI/U5HZNT6[W\]WH'2<RYMG@7*>#%B#W@J\2_J&#7#NT/LT[4+WJ^X7.59V[@
M^_W95(A*2AE1"$C"0M05@8QD]<5V'^3OIB^Z6TS<X=_MRX3[LWO$(6I*BI/=
MI&?"3Y@UUVE*4I2E*4I2E*4I2E*4I2L9J*^6O3EHD7B\2DQX4<`K60222<``
M#DDG@"N4=AFN-/W2;J"T,25MSYUWF7&.RZC:7&5J!&#TW`#D?]Z[52N8Z][,
M%WS4#6JM-WU^PZ@0@(<D-)*DO`#`W8((../,$`9%8J#V3WRZWJ!<^T#6+U\:
M@+#C$)#7=M;@0<GRQP,X&3ZUV.E*4KGO;G_5G=/[Z)^LM5T*E*4I2E*4I2E*
M4I2E*4I2E*4I6(U'J.QZ9A"=?;FQ!8)VI+JN5GKA*1RH^X"M)':!J#4!"=#:
M.ERF%=+E=3[)&QZI!\2Q]6*W/4-ACZELOY+NJWVFG"A3R8CZFRHCDIW#DI/0
M^H]*UZ9V4:$E6AJT"Q-L0T.!PB.M3:W%`$`K6#N5C)ZFI=)=FFD](W15SL,2
M1&DJ;+2B93BTJ2<'!!.#R`:W:E*4I2J7'&VD*<<6E"$C*E*.`![S6A7;M3TU
M'EJMME]JU%=.@BVAHOX^M8\('KR<58=SVIZI.9$B%HZW*/S;&)4TCT*OD)_1
MR*RMA[,-*VJ4+C*C/7BZGE4^ZN&0Z3ZC=X1^@5O"0D`!(``X&/*N6=I?;'9M
M#W=%F_)S]QGA"7'DMN!M+0/(!)!R2.<8Z$<UMNA-9V?6EC9NML64%2BAR.Z1
MWC2QU!`Z]0<CR(K/JFPTLN/JE,I:;^6LN`)3]9SQ5"[E;T-LNKG1DMO\-*+J
M0'/^4YY_158F1#+,(2F?:@-Q9[P;\>NWK4)NUK$9Z6;E$$=@X==[].QO_F.<
M#]-4N7NS-,Q7W+M!0S*.(ZU2$!+Q_P#(<^+J.E<5UK_*`8L.IYEFMMA$YF$Z
M67GW)'=[G$G"@D!)X!!&3UKJ>E];Z<U)8Q=X5SC(;1'#\EIQY(7$3SGO1GPX
MP>3QQGI5W(U9IB/:FKP]?[:FVNN=TW+]I26EKY\(4#@G@\>XU(_J6Q1[U#L;
MUSCHN<QL.1XQ5XG$\\CW>$_94#.K]-O&[I9N\=Q5H2I4\(R3'"<YW#'EM/3T
MJPE]HFCXFG(^IGKP/R1(>+#4A##B@I8W9&`G/]D^7E5[<-86&!=XUF?E.B?*
MCF0RTF.XH+0$J5G<$[0<(5P2#7S"]_*`UL;VJ8U[$FW][N3!+`(V?\)7\K./
M//7RQQ7TK9->Z6O&GW=0,79AN!'*$277B6TL+4$G:HJ`Y\0'I67%^LG<0GS=
MX*6IP!BJ4^E(?!QC9D^+J.GJ*OP^R72R'4%T#)1N&1^BI,TID5B8&I-/7&<J
M!`OENE3$YW,,2D+6,=?"#GBLMFK1^XV^/,9A/SHS4M_YIA;J4K<_Y4DY/3RK
M#,ZTT_)DWN'!EKFS;,VI<R-'94IQ.,Y2D8`4K*2,`]<>M6+VK+Q*TU&O.G]&
MW*9(??+7L,U:83J$C/\`.*WY`2<#'UBLD\O5RM30_9VK2C3O=9D]ZI9E=X0K
MA&/#@';R??6C=HF@=6:ETG>K>]J5%S?<E-RK?&5%1'2RE)5EO</E$A0Y/FD=
M,FN5=@79W?3K5.H)S28L.S27H[H+B2M<A*2A38`)X&[D]/3-?5U*4I2E*5SW
MMS_JSNG]]$_66JZ$*4I2E<ZO';'H.S767:I]S?;EQ'5,NI$1Q0"@<$9`P:VO
M2FI;3JNTIN]E?6]#4M386ILH.4]>#S6:I2E*4I2E*4I2E*4K%6F_VF[NSV8$
MQ#JX,I4-\9QM=`!*??U_R/I6,U?J:?8W(D2UZ7N=[FR@HMIC!*6D;<9[QP\(
MZC'%:_$MG:=?)3,N\WR#IV$A87[!;&@^ZL`YVK=7Q]>W@UO\N!"FEDS(C$@L
M+[QHNMA?=KP1N3D<'!/-7.*5SOM>[0GNSZW6Z8S:VYYEO*:*5O%O;A.<\`UI
MF@>W@:EU-&M-SM,.U174.*5*<F\(*4D@>)(')&.M=5=UMHUE6QW5=D0K&<*G
MM?\`W5;.]H>A&E;5:OLN<9\,U"O^QJW=[3M`-$!6K;6<\^![=_VS5N]VM=G3
M.-^JH1STV!:_^R35NYVR=F[>/_>1"\G`#<9Y?_9%<J[5.VZ<S=X0T'>D*@&/
M_/%R#@][N/\`XB0>F.G%6.@>UWM`OEP>MSETL/?/)0AEVYE,=#:BK'A2@!3B
MCG&T5O<73]IU!JB58=:ZNNNH[Q#;[]ZV--+BPVP`D@!*0`HX4,>+FMML-W:B
MZ1DRM*=G]RB*CO!INUOQT07'NF5C/&,'J>>#67DS=8NO6-<"SV]B.^E*[DB9
M()<C<C<A&SA:@">>G'OJ>/#U.;Y<G)5WA_D=UHHB,LQB'F5''B4LG!QSQCTK
M'M:0G2--/62]:MO$QUU_O3.86(KP&!X`4<!/!X]]<L[5^Q&ZZ@OC5XT[/86I
M;#3,AN<ZH*);0$!>\`[B0D9SY\^?&[]E'97;-$0F)<M+4K4.%]Y,05!*`K`V
M)!/(`'4C).>G2MJC:*TM&MD^U,62*W!GJ"Y3`2=KI!R">?=7LG1NF),.V0G[
M+%<C6PYAME)PP<@^'GW"KX6*S)O2KZ+9%%U4C89G=CO2G&,;NN,`"K5C26F8
M]OF6UBQ0&X4U05)82P`AX@Y!4/.JG]*:;?BV^(]9(+D>WG,1M3(*6#P?`/+H
M*XMKCL`?O6JIEWM%ZCQHLY]3[S3[2BII2CE6W'"ADDX..M=<TCHG3^E[&W:8
M5OC+W,!F2^MA.^6.<]X<>+))X.<`XK,HL]I;A(@HM<),1"BI+"6$!M)/4A.,
M`\G[:G5"AKD-RE16%2&QM0Z6P5)'H#C(ZFI$,,H4M2&D)4OY1"0"KZ_6J]J<
M8VC'IBA2%`@C(/&*Y&[V!Z&<OYNI$Y,=3G>&WI=`9SG..FX)]V?TXKJSD2*[
M&]E<C,KCX`[I2`4X'08Z<8%6<RPV2:J&J99X$@PCF*78Z%=P>#E&1X>@Z>@J
M%O3%B;U"_J-NW-(N[[19<E))"EHP!@\XZ)'EY5BHV@;#!L$^Q6Q=Q@19KH=<
M6Q-<[U*ACY*U$D#PCBI96DW'&[$U%U+>XC5JV@H:D@^V`%/#Q(RK.WW=36&U
MUI[5<FV:JD6S4<I]$RWK:B6H,H2&UX3G:X/$20%`9\UU\E:'T_J2?K.WP+2Q
M.B7%N2DJ=0V4JB@'Q+5GY.!GK]7G7V1\!XDS3/P?U!=KI>6B_P!^I^1)*'"?
M^'*,>$<\>_ZJS!TY8U3($]VUQG9D!H-19#J`MQI(Z`*.3Z\^^LHAMM!44(2D
MJ.5$#&35=*5SWLB_HVKO\3W#_6*Z%2E*4K5=1O7=C56E^XN"&[7(EK9>BI9.
M]Q7L[RP2YN^2-H\.WKSGRK5)%UNL0C4XNDEUYR]2H!MZG?\`9^Y1WJ$)"/)8
M+25[AR<GRX&3T:[/C7:RM/WF7<$WBRJGR$R'=X0\E37B;_X$D/$;1QX1[\\:
M_E&:RU'&U1+TNS<=MF6Q'=5'[I!RL'>#NQN^4D'KY5==G7;T["BW)6NI<ZX/
M*6@Q1&BM#:,'<#C:/3K6U#^43IZ1(1'@6&Y.+6K"2^ZRRG])*B!^FKV!VLZG
MO#$M^T:`"X\7<''WKHD(RDD$)(1ASY)^034OPX[1)%K;NT>S:?C0G7"A"W7)
M3ZL\_P!AMO=Q@\XQZ5<.3^U15QC6R3>-,0Y4E&YL1[9+=3Y]5J&T=#U(^KFH
MFF-=3EW!+G:=[.(&XR4QM-D8`SG:I8\>,'&W/^8KYBU];;I&U)<)<XS9#<J2
MXIJ=)BJCF6,_+"2!C/N%=\[$-5QM(V&+I;5T"=8GWWUN19,]E33+^XCP[B!M
M/U\'UKM#&H+6^9X:<D'V%)4^3%=`P,\I)3X^A^3G/Z14;FI[0W:FKLIR5[(Z
MX6TD0GBO<,]4!&X#@\D8JY=O5O:N<:V+6_[5(1O;`C.%)'/583M3T/!(J-G4
M%L>5<$MKD9MX)D9BNC&,YVY3X^A^3G_.HG-3VANU-793DKV1UPMI(A/%>X9Z
MH"-P'!Y(Q5R[>K>U<XUL6M_VJ0C>V!&<*2.>JPG:GH>"14;.H+8\JX);7(S;
MP3(S%=&,9SMRGQ]#\G/^=1.:GM#=J:NRG)7LCKA;21">*]PSU0$;@.#R1BKE
MV]6]JYQK8M;_`+5(1O;`C.%)'/583M3T/!(J-G4%L>5<$MKD9MX)D9BNC&,Y
MVY3X^A^3G_.HG-3VANU-793DKV1UPMI(A/%>X9ZH"-P'!Y(Q6'[0]5HL6G;J
MJ$\\W=46]R3&/LBUH!"202K:4#IT4?\`O7S$GMT[1MX"KO'QGG_8FO\`[:^J
MHVMM-2;$U?(]R]HMZU]WWK##CF%#.<I2DJ`X/)&*]<USI-N]Q+$J^Q?RE*VA
MEA)*BHJS@9`P"<="0:M+YV@6.SK6TN/=I3R72R6HMN>62H>0)2`>G4$BM6N?
M:S<VH@F6WLXU(^PI9;2Y):[@%6#Y`*...N*W&\7N8N$S;;:6X>HYC"'(Z)49
MUUAM1Y(6M"=O`"AU'./6N9ZB5VAKLM[DQ]<39<^W)P;?:K(6=RLD<.+&5`8)
M)3G@>\5S/LDL]XL.KX.H]5:7NKEL<<7B4N.ZI3#_`"0Z4)\1Y!!R#\K-?5KM
MZM[5SC6Q:GO:I"`ML",X4D<]5A.U/0\$C_.J&=06QY5P2VN1FW@F1F*Z,8SG
M;E/CZ'Y.?\ZB<U/:&[4U=5.2O9'7"V@B$\5E0S_8"-PZ'DC%8W4G:'H_34H0
M[S>41Y1:#J6.Z6M92>G"4GGCIUK4WNT75%\5);TCI%^-&8;[URY7U"V6PGGE
M+205N=.B<GW5QCM?<DW;2UJU!(UT-1%R:XP6H[/<QXR@@$@(QG=TY5@D$5J'
M90;6G6<5=XLDB\PDM.[X4>)[2MP["`0CSP2#GRKZ74UH?\O_`)*B]F,=Z$PT
M7)EP_)"$-QL!64X4C*SX?[.>HZU"Q(MZK5=I[G9_8H$1!4U:'E05/"2L;@.\
M:2T'&T^$'D>=7,F#<UV^TV8,Z:M>HWG"MSV>S.2(I9\6T)44`)5@#.XCI[Q6
M8;:CO:B=F1KRXS:K2R1,M*+-M;6H!0*@LHW*YYPC/R1ZU:L0M/Q;'=YLJ_:B
MF6V]*4SL>;>)C?+REI"6PIL<GG'D.:T3M1[+8-[?L5JL%V=CSH\8M,,3FGW6
MW&U+6LJ4^$JVJR5<*]W3BKOL;[/[3I)V[SKQ+;N%RB)_G4)M[I;C[5$[FUK0
M"M7!^0/JSQ76W-36=NU-W92Y(B.N%M*A">*RH9ZH"-PZ'DC%73MZM[5SC6Q:
MGO:I*`ML",X4D<]5A.U/0\$BHV=06QY5P0VN1FW@F1F*Z,8SG;E/CZ'Y.?\`
M.HG-3VANU-793DKV1UPMI(A/%>X9ZH"-P'!Y(Q5R[>K>U<XUL6M_VJ0C>V!&
M<*2.>JPG:GH>"14;.H+8\JX);7(S;P3(S%=&,9SMRGQ]#\G/^=1.:GM#=J:N
MRG)7LCKA;21">*]PSU0$;@.#R1BKEV]6]JYQK8M;_M4A&]L",X4D<]5A.U/0
M\$BHV=06QY5P2VN1FW@F1F*Z,8SG;E/CZ'Y.?\ZB<U/:&[4U=E.2O9'7"VDB
M$\5[AGJ@(W`<'DC%7+MZM[5SC6Q:W_:I"-[8$9PI(YZK"=J>AX)%1LZ@MCRK
M@EM<C-O!,C,5T8QG.W*?'T/R<_YU$YJ>T-VIJ[*<E>R.N%M)$)XKW#/5`1N`
MX/)&*N7;U;VKG&MBUO\`M4A&]L",X4D<]5A.U/0\$BHV=06QY5P2VN1FW@F1
MF*Z,8SG;E/CZ'Y.?\ZB<U/:&[4U=E.2O9'7"VDB$\5[AGJ@(W`<'DC%7+MZM
M[5SC6Q:W_:I"-[8$9PI(YZK"=J>AX)%1LZ@MCRK@EM<C-O!,C,5T8QG.W*?'
MT/R<_P"=1.:GM#=J:NRG)7LCKA;21">*]PSU0$;@.#R1BKEV]6]JYQK8M;_M
M4A&]L",X4D<]5A.U/0\$BHV=06QY5P2VN1FW@F1F*Z,8SG;E/CZ'Y.?\ZB<U
M/:&[4U=E.2O9'7"VDB$\5[AGJ@(W`<'DC%7+MZM[5SC6Q:W_`&J0C>V!&<*2
M.>JPG:GH>"14;.H+8\JX);7(S;P3(S%=&,9SMRGQ]#\G/^=1.:GM#=J:NRG)
M7LCKA;21">*]PSU0$;@.#R1BKEV]6]JYQK8M;_M4E&]L",X4D<]5A.U/0\$B
MHF;]:WEW%+:Y&Z`"9&8KHQC.=I*?'T/R<_YU&YJ>T-VIJ[*<E>R.N%M)$)XK
MW#/5`1N`X/)&*N7;U;VKG&MBUO\`M4A&]L",X4D<]5A.U/0\$BHV=06QY5P2
MVN1FW@F1F*Z,8SG;E/CZ'Y.?\ZB<U/:&[4U=E.2O9'7"VDB$\5[AGJ@(W`<'
MDC%7+MZM[5SC6Q:W_:I"-[8$9PI(YZK"=J>AX)%1LW^V/+N"&UR,V\$R,Q71
MC&<[<I\?0_)S_G6G=C+[<FVZHDLE1:>U)/<05)*3@J21D$`CZB,UT>E*4I5O
M)A1I3T5Y]H+<BN%UE1)\"RE2,_\`TJ4/TUBT:6L:+T;VF&?;=ZG1_.K+8<4G
M:IP-YV!93P5`9(\Z]L>E[)8I#DBVPRTXM`:!6\MSNVP20V@*)V(R2=J<#W5R
M+^4#V>6R9"GZW<FRTS6Q&8#"=O=D%U+>>F<X63UK?.SSLTLNAF)[$.0_.3,6
MA:O:TH5LV@CC`'K6?E:1TK+2M,G3=I="_E;X39)_3BK:X:%TE<+-%LDJQQC;
M(KI>9C-[FT(6<Y("2.?$?MK7U]C6@.^[UBTOQ20`1'FO-C_)59:Q:%B6"WW:
M':KU>D&X)P'7I??*CD9PIO<.#SYYS@5@9/9YJL-[X/:G?VY14"M3Z$.MD>@1
MQC[?T5\N]JL>\,:[NT>[W-ZZR&7@R)BT;>\`2,``<#&<8'GFNT=GDK6D[LRA
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MSUZ@LW5]UB`X\E+[K8!4V@G!5@\''6OKR\=E79E<&G+@.[M[,@!OO8,P,M9&
M>@^03^@]*P4#LJ?TE<FU:4U'9'I1(=8BWNWM..$]04NIPL=/(>5;,G66N[5W
M@ONAV[@TS\[)L4U+N,=?YI>%#[:NK7VO:&FN)8E7)VU23_\`!N;"F"/K4?#_
M`)UN\.Z6V<AMR%<(LE#GR%,O)6%?5@\U8:GU-:--V*?>K@^#&A)!<2T0I943
MA*0,]2>.:YEI'M]TU?+O^3[G"<LR%@EN5(?2IHD#.%'`VYQQU&>*W>^]H^DK
M+9(%]D7$O6Z>X6H[T9!<2L@D'ITQ@]?2M?5VIOWB:_#T/I.XZ@0C"4SL^SQ2
MKS\:QT'^?EZU93--]K.JHL[\KZHBZ=3@"-$M0)"O4N.@[\8\@><^57MC[(;9
M:HEH6S<I,:[Q%ER7/A@)<FJR#XBO<0..@(ZFMU1I6S(U0[J@,O&ZN-=R7#(6
M4!.`"`C.T9VCR\JQ&H.S72-YTV[I[\E,P(BG>_2J"VEI2'<8WCC!.#CG/%6/
M9UV5:=T)+D3H#DJ7.>1W??R2DEM'!*4A(`&2!D]>*Z%BE*4I2E*4I2E*4I2E
M*4I2E*4I2E*4I2E*5SWLB_HVKO\`$]P_UBNA4I2E*4I7/>W/^K.Z?WT3]9:K
MH5*4I2J%M-N;>\0E6TY3N&<'U%5TP*T7M`[,],ZW8*YT81KDE.&YT=(#B?0*
M'1:?<?T$5R1>E+;HR8F/K&V3;7'4H(9U/IZ2ZTV?(=\T"0VKW@8/H>M=;M%A
MNK.DWF-.:[E379+J7HMSN`3-V-X&4CH%`X//OK&.S^V*UJ;#EDT[?6$'"E1)
M"X[KB?7"SM"C^D5\WWSM:U](U%(N"+W+@[7B40VEX::`/""GHK'0YZ^=?1D'
M4O:=?M+1+C9]*VR#*=:0X%W"7N2^E2`=[:4<IY\EGH16)N.F.VB[VZ(ZYK:'
M`?=<_P!IB1F@R&49_LNI"E*/V?75]VB72!;[DBV:HNT2Z61YIM*+`W%+TZ4Z
M!E*LI(P-P!R<`\BM8T;V=ZSN<62FY2VM+V9]:BW'@PF&IQ;/1*G$)&T8(SDD
MG'(%;_;.RVPVRS6ZV0IMRBJB.EYR3$?[AV6K.?YXI'C`Z`5EKQH33]VN-RND
MEE_VZ?#7"=<2^O:&U(V'",[<X\\>0KAMI_DXW1O4#1N=ZA.69MP*460OOG4@
M_)VD823ZY./?7>7=$:4>L;%@=L415J8=+S<4I.Q"SG*ASU\1^VKQ_35B?O,.
M^/6QA=SAMAN/)(.]M(SP/_J/VU#'TEIN.N[+8L\9"KL%"<0#_M`5G.[GSW'[
M:MWM#:2>LD>Q.V&(NV1W2ZU&*3M0LYR1S[S6`N'8_H>1)1-@0'[/.;.6Y-KD
M*86V?4#D`_HKD/:UV<2]&:5O%TB:D>G1+E+9,MJ7'27G%[E%*BZ#SR23P,YK
MCNAH#ETUA9+<U($9<F8VV'BTES9E6,[5<'ZC7V%8NR72-N=;EW".]>YR>C]S
M7WH3Y^%OY`&?=706VVVD);;0E"$C"4I&`![A55*4I2E*4I2E*4I2E*4I2E*4
MI2E*4I2E*4I2E*5SWLB_HVKO\3W#_6*Z%2E*4I2E<][<_P"K.Z?WT3]9:KH5
M*4I2E*4J-]EF0RMA]I#K3B2E:%I"DJ!Z@@]17,YFA+QI64[=NS6:B,E:M[]B
MEJ)B/GSV'JTKZN.G0<5FM)=H-MODM5EN4=ZR:C;^=MDWPK)]6U='!]7/NK5Y
MG8)HJ;+?F2I5Y<D/N*<<69*<J4HY)^1ZFMYNM]T_H:PQA>KN&F&&DM-J?5N>
M>V@`82!E:N.<"M1_*6O]=X%EC+TE8%__`-],0%37T_\`Y;?1`/J>?,&MITCH
M73VE=[\&,I^XN\OW"4KO9#I\R5GD9]!@5M5*4I2E*58WBT6R]PS!NT%B;%*@
MHM/H"TDCH<&L-!T%HR!,9FPM,6MB2PL+:=;C)2I"AT(/D:V>E*4I2E*4I2E*
M4I2E*4I2E*4I2E*4I2E*4I2E*4KGO9%_1M7?XGN'^L5T*E*4I2E*Y[VY_P!6
M=T_OHGZRU70J4I2E*4I2E:[K#2-AU7`]GO$)+BVP5,R$'8\PKU0L<CGRZ>HK
MX*7.G!:A[9).#_XJOVU]@=CNAK"SINQZHEM.W&\R(;3B9,Y?>E@$<);!X0!G
MCS]]=7I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*5SWLB
M_HVKO\3W#_6*Z%2E*4I2E<][<_ZL[I_?1/UEJNA4I2E*4I2E*$`@@]#6D'LL
M[/2<G2EOS_RG]M;=;H,2VP8\""PEB+'0&VFD=$)'0"KFE*4I2E*4I2E*4I2E
M*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I7/>R+^C:N_Q/</]8KH5*4I2E*5S
MWMS_`*L[I_?1/UEJNA4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I
M2E*4I2E*4I2E*4I2E*4I7/>R+^C:N_Q/</\`6*Z%2E*4I5G>'WHMIG28R=[[
M3#BVTXSE022!CZQ6B:*"H=XL2&;E+EB[6(SI@?D+="W@IG#HW$[-W>K&!@<#
MCBKSMHB3)W9S=(\"'(ER"Y&4EF.V7%J"7VU'"1R>`34'QG1_H5K;\%7^VGQG
M1_H5K;\%7^VGQG1_H5K;\%7^VGQG1_H5K;\%7^VGQG1_H5K;\%7^VGQG1_H5
MK;\%7^VL=<^T>0[-M+D+2&M&V&9)7+2;.L=XUW2P!UY\90?T5D?C.C_0K6WX
M*O\`;3XSH_T*UM^"K_;3XSH_T*UM^"K_`&T^,Z/]"M;?@J_VT^,Z/]"M;?@J
M_P!M/C.C_0K6WX*O]M8Y_M'DJOT.2WI'6@MR(SR'FOR.O*G2ILMG&?(!S[:R
M/QG1_H5K;\%7^VGQG1_H5K;\%7^VGQG1_H5K;\%7^VGQG1_H5K;\%7^VGQG1
M_H5K;\%7^VGQG1_H5K;\%7^VL;$[1I2+Y<9#^D=:*M[C3"8S7Y'62A8W]X<9
MXSE'V5DOC.C_`$*UM^"K_;3XSH_T*UM^"K_;3XSH_P!"M;?@J_VT^,Z/]"M;
M?@J_VT^,Z/\`0K6WX*O]M#VG1_H5K;\%7^VL99>T:4P;A^4M):T>[R8XY'Q9
MUG8R<;4^['/%9/XSH_T*UM^"K_;3XSH_T*UM^"K_`&T^,Z/]"M;?@J_VT^,Z
M/]"M;?@J_P!M/C.C_0K6WX*O]M/C.C_0K6WX*O\`;6-T[VC2HMC@Q[OI'6C]
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M_0K6WX*O]M/C.C_0K6WX*O\`;3XSH_T*UM^"K_;3XSH_T*UM^"K_`&T^,Z/]
M"M;?@J_VUC/C&E_"/VKX):T_)?L?=]S^1UY[[?G=C_EXSFLG\9T?Z%:V_!5_
MMI\9T?Z%:V_!5_MI\9T?Z%:V_!5_MI\9T?Z%:V_!5_MI\9T?Z%:V_!5_MI\9
MT?Z%:V_!5_MK&0>T:6W>+H_*TEK1<%WN?9&Q9UDMX20OCRR<5D_C.C_0K6WX
M*O\`;3XSH_T*UM^"K_;3XSH_T*UM^"K_`&T^,Z/]"M;?@J_VT^,Z/]"M;?@J
M_P!M/C.C_0K6WX*O]M.QYN7^2;_+EVZ;!]MOLR6TS,8+3G=K4DI)2:Z%2E*4
MI2L19].V.R/R'[5;(\1V0?YQ32,$C).!Z#))P,#DUE\TXI2E*<4IQ2E*4XI7
MF17M*4I2E*4I3BE*4I2E*4I2E*4I2E*4I2E*\R*]I2E*4I3(I2E*<4ID4I2E
M.*4R*4I2E*UKM!*O@M)0F>W`[QQE"I+I6$(2749W%'*01D9R`,\D#FM.ASV)
MEL5"4\N/#MSLY]Z9;EN.=XEM.Q+K6XJ5\ITG&5`*:5C.*Q,%R$F]_DN3.8.E
ME7$;EL35+BG,4EI"G"?E%2=RAG!44=2>:FI4F;;+&NY39!M<9UF-*?6LI*H[
MKKBD%Q><X*&XH)/4.<]35L_*BR-]K8O"DR0Y)3:GY,_NH\*-WY")`43N<5D*
M0@#.4HQPDDGN2>@YS[Z]K0NTQR87].PTO1V;;)F+3+7*<4VP<-*4VEQ22"05
M#Y.0%$`9]<!;I<*YV*&]<Y<N+;XT9F,5JD*4E2W7LX6[C/=*2VT-QP=C@YYK
M"1Y2%VZ6S>+@IIF+`G*M:V92PRJ0F0O!863ES8.Z2C.3U`&*STAT3;O;9.IY
M!9M4IQR/)*W>Y:+K+"0$J4",?SBI)`SU2/05C-/S#<9UD:7=W!>FO8U/R9TP
M-EEH<I9;;SEQQULI*LC'C!)R`D=LI7*>U=]<>:^YWP==%H=,)CVM3"F)`5X7
MD`<.*)*$@#*@0!C"R:]NI9G1G9-[GH8EO++,=$MY3$1QQAG:L.K1TPXMY0`(
MY3GG;QA;9.6_$8FS)\Q.H6W;2F`A]XAQ<=2&>\.S/B2K,@K./+GY(Q/=W6E)
MNDVX37X[\BTKN5G`>4@F2MUS;LP?$X$B,G'/!QCQ'.7TJ^Q/UFE^%<QWC+LE
M,Y;\P%V8YT[I#(/#32@<*('R.,@E1ZC7BNAKE$F1$MUJO;-ZN4^4W\).[;;6
M^AM4PEEM0:6H[4I;ZD_)&$^?0UL)9598\>[WLF#!B+6_*@2E.I:]H?VMH#O4
MI0VE2"LX(22>/*S;$HZ-N?=7%;;<+4#0;3`?*XZVR\Q_-H6H;B@;CD`C"MPZ
M#%934CD:9JV,[=)'=V'VLP'RITMM*4AE3B0M61@%Q>,>:FP/2M>M$Q-PD6F-
M^67!=FC'(ESIH;$:,'E%L(03N=<>:"<Y!!"@2>@/;J5R>;<8=MUFBZ0K@J1M
M<G>W-+?5[0%(:40A3?`2PG8C:>N5((SN),/<M6W4%A:9N2W;JU/8CSVEOJ#X
MW-94EIOHIDE:EJ4<]%$'*1C,,!]IK55I<GRY+DV]-0T.O*!6$.,,%>,``!*"
MX1@#I^FM::E14HBNRKK-C39"K@W?C'>478[(40DJ3SW80>[2E6!A*B1P2:W7
MLU60S?8R'&7([%R4&#%>4['2@M-G:VI7)P2=PZ!1(%;M44E3B8[JF4A3H02@
M'S../\ZXAI.?+5":CNR4/72\6Q*)#C,M:U-ON/(0KOT'A+@W+*<8P$+3@A(-
M2W:4(<JX.:;N,AWO+;.#Q0^M4MM274;BZV<!L-I"DMX&>E9"0ZH+O=JTI)5(
MMY+;\,,N%Y`=;86ZM*%$G(*Q&R,XRX?4U;17;(IUB*Q>'%6B3!B.OJ<EK++D
MTE92E]?.S>!XQQDI2#UP=_[-77GM&6XOO%Y:2ZWWF\K2L)=6D%"CRI&`-I/)
M3@UM-8#7/??!&[F/-,)P1E'V@%0V#SY2"I/&1N`R,Y\JY[IZ6_(N-QMT=I4>
MS*G,.LLQY'M00&F>]>"%#(/C#(*4Y&5>I(K'-2(K5P]FBW0OZ;D*MZI<EN6M
M>6U*=!5)4<;'%K[L*`P"D'-7,N3(=LK[4>=(_)-NF.N)?;<)*8:Y2600O.=J
M6_:<*SPE((/`-47A5L+%^AQ;NVW#CK?79Q(F+1$SW#7>E+B>JFUE10D'@J7@
M<<==L3KDBR6Y]T/!QR,TM0?&'`2@$[AY*]??5_6J:G;>3J?2,A$V2EHSW&EQ
MTJ`:7F,\=RAC)/`\\>[/-:3:[BPN3<+C8KMW@+$AC>_,"Y%QD./)2VYW(/@;
M0HX22`2#T`ZW=O:AP];VJ-:+HX[ER5$EI4^HR4%#1`"FR-H93L24G'523SN)
M-W:O:5615E]K?E27K],1WCZ@5K;:=6X<XP,'8E/``\5:];9%K5'M8=O$H,3;
M8VN^*]H5@2R\UM#ZN>[W+[U"NGA&.`!6^]F3KKFFE(=<2YW,V2VA;3A<9*`Z
MK:&EJY4V`=H)]"/*MOK1NTL0'(C+$NX-QI!9?7%1+D+8BN+"0,K6GG<D$J2,
M^I\LC!A^-=+9$F7J9(8;$>%#3[4X6TNOEKOE(D*`\*5%385TR4@>>#Y9C-<L
MN@Y3ERE+V75R.M"'=S+Z0)`2H*(W+1A(V$GE."035%T<@2[T9E]G*CV::U.=
M97WY:07&2VTV0H$>((2XM(_\Q(Y'$=HNFIW]1Z+<O,>Z,)*/9RW@!M]1B%2W
MG,*Y._HDCPA)/4X'7:5R+M$ES&]53C)=;3%AVUAZ$R92V'772ZL+[C;P7>$`
M$@XRD8PLFO=5KAS+?<9[]Q1&ERO:W8")4A;$<AH):"]R>KB0DJ2`?[:CCC(M
MHUR`E-7.5-E-7YN[,`LOND.B!W"%+"F\XV=WO63C&\$]14,Y3S+=Q<FRWV+Z
MF+$E6EOO2E1?><4MS8@'QDN*"%#!\(`.!6QZ8N%[D=H\S\K1[A'#]O4I$5S'
M<QT(?*48PH@J(Y*O,G'0"ND4KD&H)<B)K919?2_/_+,7^=$M25QX>Q)=:[D]
M4!`<65#PG.2=R<5#<G66_8+@)S@O3DF)+7&<?6A:&WI&_$9'`6I05L5G(PC'
M%46ZX/1D09,*<ZN^RHLUN[-ETJ*9!<2AK>@GP$.J"4\#PY`XJ5EU=LGH,%4F
M3J*)>7(H@A_#CL)#*MB-A.`@H"%;B,;CG.36Q]F<J[/7#4K-X,Y4I,EEQ?M"
M=J$*6P@E#8R=J0>@],$\DUT"K6YL+DV^0PW*?BJ6@@/,$!:/>-P(S^BN/S)4
M:1IG2L%RZ*3>'K"VIA4J;[.Q$44I'M2U9"E.`C"0,DX/0$FLS?C"F^UR+C<T
M(4\^MB$9;RF(CY8:*3WJT=/&IY:0".4YYV\2VAV6Y-[/I\F?/VO6QT/-2%`)
M*@PDEQ7&2H]<DGZADU@KLZVM%SFW*<]&D2+2JY6@!Y2#[2MUPC9@^)82(R<<
M\'&/$<YZRW&_/]I$15VBW*,A^#*;1%.WN&TH6SASA1"E*)4<^04E(\S72Z4I
M2O%)2M)0M(4DC!!&014346,TOO&F&T+V!O<E(!V@DA/U#)X]]!%C!@QQ':[D
M\EO8-I\^G2@C1P'@&6\/'+HVCQG`'/KP`/J`JKN6MJ4]TC:D82-HX%24JAUI
MMYM3;K:7$*ZI4,@_H-4)C1TAX!AL!XY<&T>,X`Y]>`!]0%>F.P4MH++>UH@H
M&T801TQZ52(D5+'LXCM!G)5W>P;<DY)Q]?/UU*6VRH**$E0\R.:JI5#C33BD
M*<;0HH.Y)4D':?4>E1B'$#'LXC-=SDJ[O8-N2<YQ]9S53T:.\<O,-N':494D
M'PGJ/J-/9V-K2>Y;VM8[L;1X,#`QZ<56&VPK>$)"O7'-54JE2$*!"D@@^1%1
MHC1T*=6AAM*G0`X0D#=@8&?7BJVVFVFTM-MI0VG@)2``/T5&(D8-+9]G:[IQ
M16M&P84HG))'F2>:D+39(46TDCH2*KI4#T.(_O[Z,RYW@`7N0#N`.0#Z\U(6
M6B\'BVCO0-H7M&X#TSZ5XMEIQ;:UMH4MM6]!(R4JP1D>AP2/TT#+06MP-H"U
M@!:MHRKZ_6O6FFV6TMM-I;0GHE(P!^@572H##BEP.&,UO"^\"M@SOP1NSZX)
M&??4B66D.+=2VA+B\;E!(!5CID^=1MQ(S:T+;CM(4A*DI*4`;0H@D#TR0"?J
M%>^S1^[<:[AONW"2M.P843U)'G4J0$I"4@``8`'E7M#SQ4+<6,VMM;<=I"FT
ME""E`&U)()`]`2`?T"O1'CA#B`RV$.$E:0D843USZUXW&CMK6MMAM*EI2A12
MD#*1G`^H9/VT]EC=TAGV=KNT$%"-@PDCI@>534I@5"Y%C.%)<8:5M6%C*`<*
M!R#]8-5AEI+JG@V@.J`!6$C)'IFO%,,J>0^II!=0"$K*>4@XS@^_`^RO/9V,
M.CN6\.\N#:/']?K5:$(;0E"$A*$C`2!@`555#S+3R0AYM#B00<+2",CSYJ,1
M(H;=;$=K8ZHJ<3L&%D]21YU,$I"0D)``Z`#I4*8D5+#<=,=H,MXV-A`VIQTP
M/+%38'7`KVE1N,M.*0IQM"E(.4%202D^H]*H3#BI8:CIC-!EK'=M[!M1CI@>
M5>OQ8SX6'X[3F]!;5O0#N0>J3[O=5:FFEK0XIM*EHSL40"4_5Z57@9SCFE*A
M>BQG]_?,-N;T%M6Y(.4'JD^[W546&2IM9:05-C"#M&4_5Z50N)%<45KCM*45
MI624#)4GY)^L>7I4G=-=[WW=H[S;MWX&<>F?2JP`.@ZTI5*FVU8W(2<=,CI4
M0AQ`P(XC-!D$J[O8-N<YSCZSFI'&VW6U-N(2M"@4J2H9!!ZBJ?9V-K2>Y;VM
M8[L;1X,#`QZ<5)@9S@9KVE*4I2E,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,
MCU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,
MCU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,
MCU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,
MCU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,CU%,
MCU%,CU%,CU%,CU%,CU%,CU%,CU%*4I2E*4I6M]H#\F/I:2N)*=C/+>CM!YE6
MU:0M]M"L'R.%&H?@@?I1J3[_`/PT^!Y^E&I/O_\`#3X'GZ4:D^__`,-/@>?I
M1J3[_P#PT^!Y^E&I/O\`_#3X'GZ4:D^__P`-/@>?I1J3[_\`PT^!Y^E&I/O_
M`/#3X'GZ4:D^_P#\-/@>?I1J3[__``T^!Y^E&I/O_P##3X'GZ4:D^_\`\-/@
M>?I1J3[_`/PT^!Y^E&I/O_\`#3X'GZ4:D^__`,-/@>?I1J3[_P#PT^!Y^E&I
M/O\`_#3X'GZ4:D^__P`-/@>?I1J3[_\`PT^!Y^E&I/O_`/#3X'GZ4:D^_P#\
M-/@>?I1J3[__``T^!Y^E&I/O_P##3X'GZ4:D^_\`\-/@>?I1J3[_`/PT^!Y^
ME&I/O_\`#3X'GZ4:D^__`,-/@>?I1J3[_P#PT^!Y^E&I/O\`_#3X'GZ4:D^_
M_P`-/@>?I1J3[_\`PT^!Y^E&I/O_`/#3X'GZ4:D^_P#\-/@>?I1J3[__``T^
M!Y^E&I/O_P##3X'GZ4:D^_\`\-/@>?I1J3[_`/PT^!Y^E&I/O_\`#3X'GZ4:
MD^__`,-/@>?I1J3[_P#PT^!Y^E&I/O\`_#3X'GZ4:D^__P`-/@>?I1J3[_\`
MPT^!Y^E&I/O_`/#3X'GZ4:D^_P#\-/@>?I1J3[__``T^!Y^E&I/O_P##3X'G
MZ4:D^_\`\-/@>?I1J3[_`/PT^!Y^E&I/O_\`#3X'GZ4:D^__`,-/@>?I1J3[
M_P#PT^!Y^E&I/O\`_#3X'GZ4:D^__P`-/@>?I1J3[_\`PT^!Y^E&I/O_`/#3
MX'GZ4:D^_P#\-/@>?I1J3[__``T^!Y^E&I/O_P##3X'GZ4:D^_\`\-/@>?I1
MJ3[_`/PT^!Y^E&I/O_\`#3X'GZ4:D^__`,-/@>?I1J3[_P#PT^!Y^E&I/O\`
M_#3X'GZ4:D^__P`-/@>?I1J3[_\`PT^!Y^E&I/O_`/#3X'GZ4:D^_P#\-/@>
M?I1J3[__``T^!Y^E&I/O_P##3X'GZ4:D^_\`\-/@>?I1J3[_`/PT^!Y^E&I/
MO_\`#3X'GZ4:D^__`,-1:5;DP=37^U.7.=-CL,1'6C,=[Q2"OO=V#@<':*V^
ME*4I2E*U?M%_W5=_ZN'^M-5M`I2E*4I2E*9IFF:^?[A_*,API\F&K2KZRP\M
MK<)B1G:HC/R/=78M$ZA1JK2UNU`B*J*F8@K#*E[RC"BGK@9Z>E9[-,TK&:@O
M4.PV\SI@=6%+2TTRPC>X\XHX2A"?-1/[3@"L$YKNWQ$RDW>V7*V2(R6W5L2$
M(*BRMQ+?>@H6I)0E2ANP<I\QTJ]OVK;=99JX+L>9)DH8;?+<9L*.''DLMCD@
M94M7'N23Y5$]J[V:&Y*EZ=O4;#K+#;;C;6]];B]J4HPX1UQG)'6HAKBW!F8'
MK?<V)\9QEHV]U@!]Q3I(:V844D*VJYW8&TYQBJ5:W91'FK78+R)$!6)D4-M%
MQA.PK#A/>;5((!P4D\@CK7OPWC&'!>%DN_M5P7MA0N[;[Z0G:%%P>/:E`"AE
M2B,=.I%5?#FU(M\J1*C38TV-(1%<MKC0,DO+Y;0E*20K<.00<8R<C!Q6SK*&
M''HUPMUPMTUE<=*HLA""LI>=#3:TE"E)4G><'!R,<CIG*6V^1+G<KA!A(>=3
M`4&WI(2.Y[WS;2K/B4G^U@8&<$YXK"RM=VYA4M\6^XO6F&\6)-T;;28[2P<+
M_M;U)2>%*2D@<\\&J[AK6+%DW!N-:+K<(UM5LFRXC2%-,*QE2>5!2RD$$A`5
MCZ^*O(&K+//U`+%$>6Y)5`;N#;@`[MUE9P"E6>3T/3H14VF-1V[4T25,MG>E
MB/*<BE3B=NY2,94GGE)R"#4&H=66RP>V"<B2HQ8?MK@:;"LM[PC`YY.3TJ23
MJJR1F8DER6/8Y4-V:B2D9;#+:4J4HGKT6/+UJUM>KF)L^%#DVBZ6TSTJ5"<F
M-(2F1M&X@;5**5;05;5A)P#Z$5L]*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*5
MJUG_`-_=2_\`20?_`%ZVFE*4I2E*U?M%_P!U7?\`JX?ZTU6T"E*4I2E*5B-3
M6-G4-K5;GYT^&@K2OO8+Y9<X\MP\O6M.^*:V?2K5_P"+J_93XIK9]*M7_BZO
MV4^*:V`@C56K_P`77^RN#S^P77BY\E;#,-;*G5E"G)@*E)W'!/'7%=<T9V/^
MRZ9M[%XO^H8EP0@AYB#=5)90=QQM`&`,8/UYK.?%-;/I5J_\75^RGQ36SZ5:
MO_%U?LK.Z4T5$TS->EQ[S?)JG6^[*+A.+Z$C(.0".#QUJO7-MN$QBT3[9'3*
MDVFX(F^RE027TA"T*2DG@*PX2,D#(&2.M8=VTS-87U<RY6B3:[2W:I-O[N64
M=](4^4;SA"E`)2$#&3DD],#-81C3&I'M)7%Z]077[W(EP6UM1I*4N.1HKC8"
MDKW#:I6UQSY0(*_(UD9%BE7*V>P1K-J&`#<8;[CDZZ=ZO8AT%1;5WRR@@#/&
M,\8R:LY^DKG#F:A0BU.7RUREP']LN45R7`C>'4M.E84E:/`M&2!DJ`(S64L5
MLO2K3J6-W%V;M\B-W=OC7:4EZ0EPH6%^+<HA!)0`%*)R%'@&I)%LN]JE:6OK
M%M<GFWVQ5OF0V5([U(6&CO1N(2HA36",\@\9QBL/-L.HKC>'M9MV@LOLSH;\
M>UO+0'GF64/(5N()0EQ7?J*1NP-J<D9XR=^8U'JR#*C"U2K7;B["#27%H;EJ
M4F2A;K@*5D(2E">/[1.3Z9R&FH%TTM[188]N=F61IU"[<\VXC<TTXOQMKW*!
M/=DE05R5)..5#G%VE&J-.6:1I>WV%R3*3)>,*Y*4W[+W;KJG`MT;PL%.\@I"
M3DC@\Y%<).H=--WNU,:<D70RYLB7"E,+:2RKOE%6U[<H*1M42"0#E(&,GBM=
MD:(U1:HD=5E:;?N5O@0H3#_>!`<'<O,OD9.0$]XA8!Z[!C)K<-)P5Z46Y:!`
M<$69<BW%4E:3M:1%;`6H9S@EHCUR1G@U:ZXL%WN=QFOP(O>(<M;;"#O2G+@D
MI61R?^$$YK"ZBT'>9=QN%IMX;%BDP9JXKBU#$1]Y3:BR4]>[*T%0P.-RAZ5M
ML&[ZEN,Z"V=-/VQEE*ESUREM*"U!)"6V2A9SE6#N(`VCU/&SPW77XC#S\9<9
MUQM*EL.*25-DCE)*202.G!(J:E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E:M9_
M]_=2_P#20?\`UZVFE*4I2E*U?M%_W5=_ZN'^M-5M`I2E*4I2E*4I5"G&T+0A
M2TI6O(2DG!5CDX]:KI2E1K?90\VPMUM+KF2A!4`I6.N!YXJ)Z?!8#Y>F1VPP
M$EW>XE/=YZ;LGC/EFK9%]LJVG'D7>`IIO&]8DH(3GIDYXS5RS.A/QTR6);#C
M"E!*7$.!22<XP"#C.>*E[YGO_9^]1WVW?W>X;MN<9QUQGSJ.=-AV^.J3/EL1
M8Z>%.ON!"1]9/%1&ZVP06[@;C$$)S&R07D]VK/3"LX-(UUMDH`Q;A$>!6&P6
MWDJRHC.W@]<`G%229\&(E:I,R.PE&-Y<<2D)STSD\9P<5;IOEE4PN0F[02RA
M02IP24;4D]`3G`)Q5RS,B/QO:V9++D?!/?(6"C`ZG<.*K$B.H,D/MD/?-'</
MYSC/A]>.>*IE3(D-AV1+DLL,M`%QQU82E`]23P*0Y<6='1*A269$=8RAUE86
ME7U$<&O6I49Y24-2&EJ4CO`$K!)3G&[ZL^=6TB\VB,L-R+I":6<D)<D(2>"0
M>"?4$?H-1KOUC;2A3EXMZ`XG>@JDH&X9QD<\C@U(N\VA#C32[I"2XZ$J;09"
M`5A7R2!GG/EZU>)>:4ZME+B"XV`5H"@2G/3(\LXJRD7FT1N[]HND)GO$[T=Y
M(0G<GU&3R/?4:M06)'RKU;D\`\RD#@\@]:NY<^#"B&9,F1X\4`$O.NI0@9Z>
M(G%4KN=N1;_RDN?&3`VA?M)>2&MIZ'?G&/TU2W=;8[`_*+=QB+@__P"2EY);
MZX^5G'7CK4`U#82`1>[=@G']*;Z_;5Q$N=NF(<7$GQ7T-#*U-/)6$#WX/'2I
MDR8ZBR$OMDO)W-86#O&,Y'J,$=*I,Z$F*N6J6P(R,A3Q<&Q.#@Y5G'7BHF[I
M;'8CDQJX15Q6SA;R7DE"?K5G`ZU["NEMGK4B#<(LE2!E267DK('J<&KCOV>_
M]G[U'?;=_=[ANVYQG'7&?.J1*C%E3XD-=RDE)7O&T$'!&?KXJ`72V&9["+A%
M,O.WN.^3OSZ;<YJ>7*C0XZY4R0U'CMC*W75A"4CWD\"K?\KVKV)N?^4X?L;A
MPB1WZ>[6?<K.#T-4?ERS>S^T_E:#W&_9WGM"-N[&<9SC..<5<L38DCN_9Y3+
MO>([Q&QP*W)SC<,=1GSJI$F,XX6D/M*<!(*4K!((QD8]V1]HJWB7>TS77VH=
MSAR'(_SR&GTK+7_,`>.AZU3%O-HEO)8B72$^\H$AMJ0A:CCKP#FJX%TMER+H
MM]QB2RR=K@CO)<V'T."<'ZZG5*C(7L5(:2O>&]I6`=Q&0GZR.<5Y(F1(R7%R
M)3+*6TA2RXX$A()P"<]`2#4;5RMSL1<UJ?&7%1G<\EU)0G'7*LX%11[U9Y*M
ML>ZPG59`PW(0HY)P.A\SQ5Z'FB\I@.H+J4A2D!0W`'."1Z<'[*KI2E*4I2E:
MM9_]_=2_])!_]>MII2E*4I2M7[1?]U7?^KA_K35;0*4I2E*4I6(U,WJ!RUJ3
MIE^`S<=Z<+G(4IO;_:X3SGTK3?9.V7\[Z0^[/_MK=+6B^IL#:+H]"7>NZ4%N
M,(4&"OG:0#SCIG]-:7[)VRX__%](?=GZX+K7M*U9$[1+>[/N%OENZ=DJ3_\`
MT]*D,NDX#J?$<GC*,_7BN]JD=H]ZQ=M+W?3'Y#EI2]#]I8=4YW9`(W%)QGKF
MLGIR/VDMW9I6H[AIUZV;5=XB$PZETG'AP5<=>M7FK&=<NR8YTG-LC#`0>^%P
M:<6HJSQMV^6*HTHQKQJ:\=5S;&_$+>&DV]IQ"PO(Y.[C&,UKW::%1]3Z?O:"
MH+LL63<%;>I:2['2\/\`_4MS[!6GK2IR'J.]251FW;RNT7%2I@RTAM<]P-!P
M9'A#2&\C(\ZSUQ>M'L<%4J?I%^,F\0R^;6A#;:497CO<K4,9Z9QYU!*_)3NH
M+J]I@QE693UF0^J'M]G7,]N3G;M\)7W>W<1_Y<\U;NW*:-7J[0OR<^;6W<Q;
MQ/[]'="WC+"O#G=COSWF<8P/2MMU<N*UKVQO7PQDVQ,&2(2YA`CIG;D8W$\!
M6S=MSS\K'-:2[.B/PRALZ>CM-:G:*WTE2[>M:HJBI>U1``SQX2`5#/4FLU<[
M=#OL*PVZ/<[)WR[R5)E:?2$)8<3$>4TL@*5XTJ2#R>1Q6!NMT?N-PFKNB8,*
MX19]IC3DS49C-O)[_<3DC<V00I)R.%"L]<D-S(-F8M[VD9TE5[9!3;V0(^.X
M>P'4A2B3PK'Z*PSYFQTZHTJW`CF[7:\1XZX5L(:9,8QT..J;"L;26DK"B>"H
MBKFTW-NV3-+6F\;+6+%?),?9+?1_-1UQ'EQ\K!VXV+"`0>J,5LFM$V24W`O,
M6]Q$"5<&>[EO-HE00XTVZ$I=PH82=Q`.[A81YUD.S:0TZJ_M(C6]#J)P4^_:
MW5+B/N*;3E2`?DJP`%)&>><DDUHFGH=P+MDO-G2IRYVO3T9UMA*L"4T7G0ZR
M?>I(!2?)24^^LM':M%YT!%NZ8;#Z9&H`IIUY@;^[7=,[3D9'"B"/KJN](@P]
M<W>.B1I*`TF###;=X821C+WS8WIP/6L?J&WS)SVLG;7!T[-CHM<8A4ADK&/9
ME$=SC("<?)Y]*]LJGH=T?U;:5RI+4.#;4RVEJWN282H^5*P.KB.%@^>%#SJP
ML#L;-I4Y/TO'"M.02@WQH+"QWLCEO*TX\L_6*W>Z6NRR;SHIU,&TR$2'7=[D
M=A!:='LB\;>N4Y'')\JF[1$QD2M.`SHL!YJ0X8JY\<.0BL-D!#GB3M403L(.
M<@@>E:9;7[4;G9%72-;H]B8NDX/.QWBY;G)Q;;+3B2OA(\3H`Z!P*`)-3WI,
M.7,U.-.>QN6IV59T%00%Q%S?:AWG"3A7@[K>`?0'FMCU-8$Q]`:F7=;=8E24
M09"VEP8/=!/\V>?$5'=GS!K$:^MZ+3<X#-HB)CHU)#-E<$=L(2%EQ"DJ./\`
M\M4CFL/$FR[,+LPPAQ<C2L1RRVQ#G5R1)?Q'V^O\TE@'ZS4#;$NQ:<ONC9%M
M7$W^P38+,UQ#H<R^RV_DH)&TN@*(Z_SOO%5ZFBOVZ?J>/<8]GA/N6^W.H$-L
MHB+;$W!4\DX)4#P3P-IQ72-$NPEOS`S.TK)>VIXLC80I*<GY?C42,XQT\ZT)
M=QG?##XP1;GS:T7,6X3^_1W0M_S"O#G=COSWF<8P/2K"4F79-(3W?YQRTWN8
M\AP<J]FF":H`^Y#B4X/D%)'_`!5D+TYI55@UQ'GJ@*OJKC+$)M)09A?(3W/=
MCY>[=MP1_P!JV[7"<633B;K/8AS$2V5>T2XX>B=^&E</#<G"2<@'(PO;BM*>
MDQEI90I.FXRF]1YD2MY=MCSBH3F5!*B-JN`%)!^7@Y))K,36?;E:99MJM)SW
MC<I&X0V?]D_HJSXDI4H[\>_TK#V]?P9$S5$N.RPNR:@D,7)J$@AE$9]IKYM/
M4)W=RLC_`(MY\ZENELNT'3C2&$/"^3=/W2:^&?G2^\]&<<"<<[@DE(Q_PC%9
MVZ2=!NPH#=@1%>E"W2O9#;5)_F&/9U[BZ$GA&<#"L^,IXR,C%61VV*TFZV_<
MM,.[K*M)18XZ?R@G^9&XI_G#D@9R,<UD=&R(R-66MA#FGKDM=M<0Q.L8+)2R
M"@X?9!4D))QM.>#D`#)JTU3;6[QJ&?;777&0_J*&$NM*VK:6(!4A:3ZI4`?T
M593;HN<[>TZB;99F039(US#@`9*DSEDN#/'=K20L9Z!6#T-0ZR59'9>HW]+J
M@FVILJ4W%R+M,4O^TMEG?M\)4$=[GSVD9\JSLIW3B]/7UNZ3-+S6ELI2AK3[
M01)+A7AL#"U'?WFS;TPK!K,=EP?:;NS%]).K@\E5U4H@]X"G^94@@#^;V#`Q
MP%!?GFM^I2E*4I2E:M9_]_=2_P#20?\`UZVFE*4I2E*U?M%_W5=_ZN'^M-5M
M`I2E*4I2E*4I6-58[*I14JTP"I1R28R,D_95]'89C,I8CM-M-(X2AM(2D?4!
M4E*52M"%G*T)5P4\C/!ZBJ%L,+04+9;4D@)*2D$$#H*B3`@I0I"8<<(5C<`T
MG!QTSQ4R&6&V@TAIM+:3D)"0`#G/3ZZ=TR6NY[M'=8QLVC'V53*C1Y;"F)3#
M3[*OE(<0%)/U@\53['$+(8]F9[E(`".[&T`<#CIQ53,6,QPS':;YW>!`'.,9
MX]U'(\=T+#C#2PO&[<@'..F:\:B16/FH[+?.?"@#GUX^NJ^Y9[WO>[1WG_'M
M&?MJAZ-%>SWS#+F<9WH!SCIUKQ42&J,J(J,R8ZAA310-A'O'2JXT=B*RAB,R
MVRRGA*&TA*1]0'%5(;;1@H0E.!M&`!QZ4#300&PA`2#G:`,9SG/VU$_$AOKW
MOQF7%XQE:`H_YU(EII"2E#:$I("<!(`P.`*]0TV@80VE(P!@`#@=!4+D&$X$
M]Y$86$#:G<VDX'H.*F0TTE*$H;0$M\(`2!M^KTJF3&CRV5,2F&WF5?*;<0%)
M/U@\508<0Q/8C%9,7;L[GNQLV^FWIBJF8L9AA$=B.TVRCY+:$!*4\YX`X'-2
MJ2E:2E0!21@@C(->*0A125)!*3E.1T->%EHDJ+:"2H*)VCJ.A^NBVFEJ"EMH
M4H#`)2#CS_\`V%>.,,NY[QEM>Y.T[D@Y'7'U50Q$BQU%3$=IHD8)0@)S]E2=
MRUW7<]VCN\8V;1C[*%IHM]V6T%&<[=HQG.>GUU0(L8/^T".T'O\`Q-@W?;UJ
MI]AF0RMB0TAUI8PI"TA25#T(/6HDP828R(J8C`CH^2T&T[$_4,8%5LQ8S``9
MCM-@'/@0!SC&>/=5199(6"T@APY6"D>+Z_6J]J2H*VC<!@''(%6\>!"C+><C
MPV&EO'+JFVTI+A_\V!S^FO6H,-EP.,Q&&UCHI#8!'Z0*\B084,N*B1&&"Z=S
MA:;"-Y]3@<U-W;95NV)W9W9QSG&,U2XPPX%AQEM06`%;D@[L=,^M>)C1T,EA
M##26CU0$`)/Z.E4-P832MS<1A"L@Y2VD'_M4X0@.%P(3O(P58YQZ9JJE*4I2
ME*5JUG_W]U+_`-)!_P#7K::4I2E*4K5^T7_=5W_JX?ZTU6T"E*4I2E*5A]47
MOX/VI5Q_)5RN>U:4>SVYCOG3GS"<C@>=6,K5?L]PLD/X/7UW\J(2OOFHFYN)
MNQP^<^`C//7H:JBZH]HO5VM7Y`O;7Y.;4Y[4[%VL2<8\+2L^,G/`XZ59-ZXW
MZ85J#X)ZF3B0&/R>8'^UGIXPWN^3SUSY5\RZN[9M<RM42G[?<9-JBLO*0S"[
MM(*$I.,.`@Y5QR#YY%?1'9SV@OZJL[;\K3EXC2&X/M#D@Q=L>0H<$,JSXB3R
M!^RLBC7.[2R]0_!+4PVO]S^3S`_VL]/&&]WR>>N?(U>2M5^SW"R0_@]?7?RH
MA*^^:B;FXF['#YSX",\]>AJ>V:C]OU%<;)^1+Q&]B&?;9$;9&?Y`PVO/BZ^G
MD:QO:-(O;,.S-Z?EIC3W[FA"=_R'0&W%]VO_`,JB@`GRSGRK`2M?;(&H;\RI
MQ+,>SQEM0W>K$M3K[9;4/)06E*3_`,M8ZTW^[W'2CUHBWI=VN%ONB(TF3#D(
M:D3HRDEP%E2R$[\9'4'#:\$'FI6KA+>AIM;%ZOL<.7J*RIB<DMSHC3B22@N'
M.]*BDE*LGC(R<5+>]0W'1:]26Y=UD7%EJV,RH+LQ25.,/O.J92A2@!N3N`4,
M\@!7E5M;-4SY^G(-A8U!WTY5]%G?N[13O4R4*=2ZG(("UMI"0><*)]*VBV>T
MV+6T6QMW69/M]P@/2`B8^7W([K2VTDA9\6U0<Z$G!3QC)K!R]67.QZKUBJ9(
M4_;TLG\G,*Z(D-,LJ+:?^<OI/_RFL/<-17R!H:SV:5J7V:_RITQIVYO8X3'<
M<S[L%26V_J563FZE7J!_34R.]?DPY]H<E+8LI\:70MM)W>Y)*D_76-BZYU!$
MLUIN`$FYNOVJ8Z=S>4LAN2E(>D!`'+;>=X2,E0('7(R4LSV[W$MJ;MJB\1Q:
M6I7M%J?:27EK=<RXK)`VD`;0G@`?IK)W:T2D2M,I:U!J2,FXR>X?:<F#>E(C
M.KP<`@*W(&2"?.MCO3TF!/TI$8E/%MZ<6'BI65.I$9Y7B/GXDI/UBM!TYJF^
M)T_;8%WG+7/E2(,J)+Z&3&=EMH<;/JI&XI/JE23ZU+)DWFW:0?UJSJ"Y.2X\
MYW=#?="X[S8EJ:[K9MR/#@`@@YQ5S:7;A<;W/5(7JYQ*+P^REV(^VF(A"'2$
M@@J"MH`P>/7K5*+_`#XNKY.FY]^*;9:W5W%R8,EY]K"5)BG`Y*"L%6.2CN_4
MUG8-]<GVO6D^).6XS'<48:\$=VGV-M8P",CQ%1Y]:]O<J\/:%M+D"0Z9LI,7
MO0T^AJ0^@I!<2TI9"0X1DC].,'FJ^S^6IUZ[0U3+N0RMM:(5X:(DQ0H'_P"(
M2>\0HI.TY.,*&:W2E*4I2E*4I2E*4I2E*4I2E*4I2E*4K5K/_O[J7_I(/_KU
MM-*4I2E*5J_:+_NJ[_U</]::K9P:]S3-,TS3-,TS3-,TS2E*Y]J'LDT-J"]K
MO5PM:_:G5;W@R\IM#RO521YGS(QFM[B1H\.*S$BLH9CLH#;;:$X2A(&``/(`
M5-2E6<ZWQ9SD-R2A2E1'Q(9P2-JPE2<^_A1XK$+T=I]=W?N_L1$J1)8EN[7%
M!*W60H-J*>F1N)]Y`)Y%>WK2-EO$QV=):?;F.(:2'V'E-K06U*+:TD=%IWJ&
M[T40<@XJW^!%F5#=9==N+LAV0W)7-7,7[0IQ&0@]X""`D$@`8')XY-21-%V&
M,\U(+,F1)1*1++\F2X\XXZA*DH*E*))"0H[4]`>0,U-=-)V.Z2)LB7%67IB&
M4N+0ZI!"FB2VXD@@I6DJ.%#FK;3VB[58KS)O49^<_<)37=/O2GRZ71E)&<C@
MC;Y8SYYXQ=3]*6*?)3)EPRXZFX(N0)6KA]"$H2KZMJ4\=#BIK=IVU6ZY*N49
MA8E*0XWN4XI6U+CRGEX!Z96K)^H#R%>6O3=IM<PRX3"VW/Y_`WJ*4AYP.N`#
MH`5C./+G'6O+5IJT6IYMV''4A3:'T)RLJ`2\[WK@P?5?/NZ=*QJ-!V-A31A.
MW.#W39:0(D]UH);*U+"/"?D@J5@>0.!Q6:19X8;MB'%2'U6YPNL./O*6O<4*
M1E2CRKPK4.:N)D"+,D0I#Z"IR$\7F2"1M64*1GW^%:JQ3NDK"[`L\%R&5,VA
M]N1")6K<TM!RGQ=2/4'@^=6K&A[$U*;>5[>\TU),IN*]-=7'0Z5E>X-$[<A1
M)&1P>:D3H^W-S7I<>=>(Y>D*DK:9N+J&BM2MRCL!Q@GJ.E3M:4LK3$1MN.X%
MQ9BIS;_>J[WOU$E:BOJK=N((/!!QTJUO6B;->)[\V0[<6?:DI1,9C3'&6I:0
M,`.I2<*X\/J1P>*O;GIFUW-A]F2)(0LM*;[M]:/9EMYV+:P?YM0SU3C/GFHK
M=I:WP"MU,JXO2G7FW793TM:G7>[SL0HY'@&3X,;3DY')K8:9IFF:9IFF:9IF
MF:9IFF:9IFF:9IFF:9IFF:9IFF:9IFF:9IFF:9IFF:9K5K/_`+^:E_Z2#_Z]
M;32E*4I2E:?VJ_[CS_[V-^L-UJR_EJ^LUY2E*4I2E*4I2E*4I2E*4I2E*4I2
KE*4I2E*4I2E*4I2E*4I2E*4I2E*4I2E*4I2LKV<_[S:F_N87_9VNBTK_V3\_
`
end
</TEXT>
</DOCUMENT>
</SUBMISSION>
