<SEC-DOCUMENT>0001193125-16-465516.txt : 20160216
<SEC-HEADER>0001193125-16-465516.hdr.sgml : 20160215
<ACCEPTANCE-DATETIME>20160216164733
ACCESSION NUMBER:		0001193125-16-465516
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160209
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20160216
DATE AS OF CHANGE:		20160216

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DDR CORP
		CENTRAL INDEX KEY:			0000894315
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				341723097
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11690
		FILM NUMBER:		161429648

	BUSINESS ADDRESS:	
		STREET 1:		3300 ENTERPRISE PARKWAY
		CITY:			BEACHWOOD
		STATE:			OH
		ZIP:			44122
		BUSINESS PHONE:		2167555500

	MAIL ADDRESS:	
		STREET 1:		3300 ENTERPRISE PARKWAY
		CITY:			BEACHWOOD
		STATE:			OH
		ZIP:			44122

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEVELOPERS DIVERSIFIED REALTY CORP
		DATE OF NAME CHANGE:	19940218
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d142232d8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML><HEAD>
<TITLE>8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, DC 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to Section&nbsp;13 or 15(d) of the </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of report (Date of earliest event reported): February&nbsp;9, 2016 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>DDR Corp. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name
of Registrant as Specified in Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


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<TD VALIGN="top" ALIGN="center"><B>Ohio</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>1-11690</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>34-1723097</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or Other Jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of Incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" COLSPAN="3" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>3300 Enterprise Parkway, Beachwood,</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Ohio</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>44122</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center"><B>(Address of Principal Executive Offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (216)&nbsp;755-5500 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
Name or Former Address, if Changed Since Last Report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<I>see </I>General Instruction A.2. below): </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.02.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </B></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>2016 Value Sharing Equity Program </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B><B><I>General</I></B><B></B>. On February&nbsp;9, 2016, DDR Corp., an Ohio corporation (&#147;<B></B><B><I>DDR</I></B><B></B>&#148;),
adopted the 2016 Value Sharing Equity Program (the &#147;<B></B><B><I>2016 VSEP</I></B><B></B>&#148;), and performance awards were granted to 51 officers, effective February&nbsp;9, 2016, as participants under the 2016 VSEP. 2016 VSEP awards, if
earned, may result in the granting of common shares of DDR and time-vested restricted stock units (&#147;<B></B><B><I>RSUs</I></B><B></B>&#148;) to participants on future measurement dates based on a performance period beginning on February&nbsp;9,
2016 and ending on December&nbsp;31, 2018 (the &#147;<B></B><B><I>Performance Period</I></B><B></B>&#148;). As a result, in general, the total compensation available to participants under the 2016 VSEP, if any, will be fully earned only after
approximately seven years (the Performance Period and the final four-year time-based vesting period for RSUs).<B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The 2016 VSEP was
adopted pursuant to, and operates subject to the terms and conditions of, DDR&#146;s 2012 Equity and Incentive Compensation Plan (or any successor thereto) (the &#147;<B><I>2012 Equity Plan</I></B>&#148;). The 2016 VSEP is designed to permit DDR to
reward participants for contributing to DDR achieving certain financial performance by allowing such participants to share in the &#147;Value Created&#148; (as defined below), based upon increases in DDR&#146;s adjusted market capitalization over
DDR&#146;s initial market capitalization using a starting share price of $17.41 per share (the &#147;<B><I>Starting Share Price</I></B>&#148;), over pre-established periods of time. Under the 2016 VSEP, participants are granted performance-based
awards which, if earned, are settled 20% in DDR common shares, and 80% in RSUs that are generally subject to time-based vesting requirements for a period of four years. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Performance Awards</I></B><I>.</I> Under the performance awards, on five specified measurement dates (occurring on February&nbsp;23,
2017,&nbsp;June&nbsp;30, 2017,&nbsp;December&nbsp;31, 2017,&nbsp;June&nbsp;30, 2018 and December&nbsp;31, 2018), DDR will measure the &#147;Value Created&#148; during the period between the start of the 2016 VSEP and the applicable measurement date.
Value Created is measured for each period for the performance awards as the increase in DDR&#146;s market capitalization on the applicable measurement date (<I>i.e.</I>, the product of DDR&#146;s five-day trailing average share price as of each
measurement date (price-only appreciation, not total shareholder return) and the number of shares outstanding as of the measurement date), as adjusted for equity issuances and/or equity repurchases, over DDR&#146;s initial market capitalization at
the start of the 2016 VSEP utilizing the Starting Share Price. The ending share price used for purposes of determining Value Created for the performance awards during any measurement period is capped at $25.35 (&#147;<B><I>Maximum Ending Share
Price</I></B>&#148;). Because DDR&#146;s initial market capitalization is based on the Starting Share Price, there are no performance awards earned until DDR&#146;s share price exceeds $17.41. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each participant has been assigned a &#147;percentage share&#148; of the Value Created for the performance awards, and the aggregate
percentage share for all participants for the performance awards is (1)&nbsp;1.4910% to the extent the ending share price for the applicable measurement period is $19.58 or lower, and (2)&nbsp;1.6089% to the extent the ending share price for the
applicable measurement period is above $19.58. The percentage shares for the performance awards for the named executive officers who are participants are: David J. Oakes, DDR&#146;s President and Chief Executive Officer &#150; 0.1180% to the extent
the ending share price for the applicable measurement period is $19.58 or lower and 0.2359% to the extent the ending share price for the applicable measurement period is above $19.58; Luke J. Petherbridge, DDR&#146;s Chief Financial Officer &#150;
0.1180%; and Christa A. Vesy, DDR&#146;s Executive Vice President and Chief Accounting Officer &#150; 0.0600%. After the first measurement date, each participant may earn &#147;performance award shares&#148; (settled as discussed below) with an
aggregate value equal to two-sixths of the participant&#146;s percentage share of the Value Created for this award. After each of the next three measurement dates, each participant may earn performance award shares with an aggregate value equal to
three-sixths, then four-sixths, and then five-sixths, respectively, of the participant&#146;s percentage share of the Value Created for this award. After the final measurement date, each participant may earn performance award shares with an
aggregate value equal to the participant&#146;s full percentage share of the Value Created. In addition, for each measurement date, the number of performance award shares earned by a participant will be reduced by the number of performance award
shares previously earned by the participant for prior measurement periods. In the event that a change in control (as defined in the 2016 VSEP) occurs before the 2016 VSEP&#146;s final measurement date, the date of the change in control will be
deemed the final measurement date and each participant will be entitled to earn a final amount of performance award shares for the Value Created as of the date of the change in control. Participants will also be entitled to earn a pro rata amount of
performance award shares if they die, become disabled, retire or are terminated without cause during the 2016 VSEP measurement periods (with &#147;disabled,&#148; &#147;retire,&#148; and &#147;cause&#148; having the meanings as defined in the 2016
VSEP). Participants will generally forfeit any future performance award opportunities if their employment is otherwise terminated. </P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Generally, within 60 days after a measurement period (or, if the measurement period ends early as
a result of a change in control, within 60 days after the measurement period that would have applied if the change in control had not occurred), DDR will (1)&nbsp;settle 20% of the performance award shares earned during such measurement period in
unrestricted common shares of DDR and (2)&nbsp;grant a number of time-vesting RSUs to each participant as the settlement of the remaining 80% of such earned performance award shares. If, within two years following a change in control that satisfies
certain requirements under Section&nbsp;409A of the Internal Revenue Code, a participant retires, the participant&#146;s employment is terminated by DDR without cause or by the participant for good reason (as defined in the 2016 VSEP), or the
participant experiences a separation from employment for purposes of Section&nbsp;409A of the Internal Revenue Code as a result of a leave of absence (as further described in the 2016 VSEP), the unrestricted common shares described above will be
paid to the participant within 60 days of termination. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The RSUs awarded under the 2016 VSEP will generally be subject to time-based
vesting in equal annual installments on each of the first four anniversaries of the end of the applicable measurement period (or, if the measurement period ends early as the result of a change in control, the end of the measurement period that would
have applied if the change in control had not occurred). The RSUs will generally be subject to continued time-based vesting or acceleration under certain other circumstances as described in the 2016 VSEP. After becoming vested, RSUs will be paid in
the form of one common share for each such vested RSU. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The 2016 VSEP and the performance awards granted under the 2016 VSEP will be
subject to the terms of the 2012 Equity Plan and its limits. In addition, if DDR is unable to issue DDR common shares under the 2012 Equity Plan to settle these awards, DDR will take the necessary or advisable steps to otherwise settle the awards at
that time. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="5"><B>DDR CORP.</B></TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ David E. Weiss</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">David E. Weiss</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Executive Vice President, General Counsel and Secretary</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Date: February&nbsp;16, 2016</P>
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