<SEC-DOCUMENT>0001157523-12-003440.txt : 20120626
<SEC-HEADER>0001157523-12-003440.hdr.sgml : 20120626
<ACCEPTANCE-DATETIME>20120626162017
ACCESSION NUMBER:		0001157523-12-003440
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120625
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120626
DATE AS OF CHANGE:		20120626

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Clearwater Paper Corp
		CENTRAL INDEX KEY:			0001441236
		STANDARD INDUSTRIAL CLASSIFICATION:	PAPERBOARD MILLS [2631]
		IRS NUMBER:				203594554
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34146
		FILM NUMBER:		12927431

	BUSINESS ADDRESS:	
		STREET 1:		601 WEST RIVERSIDE AVENUE
		STREET 2:		SUITE 1100
		CITY:			SPOKANE
		STATE:			WA
		ZIP:			99201
		BUSINESS PHONE:		509.344.5900

	MAIL ADDRESS:	
		STREET 1:		601 WEST RIVERSIDE AVENUE
		STREET 2:		SUITE 1100
		CITY:			SPOKANE
		STATE:			WA
		ZIP:			99201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Potlatch Forest Products CORP
		DATE OF NAME CHANGE:	20080728
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50324017.htm
<DESCRIPTION>CLEARWATER PAPER CORPORATION 8-K
<TEXT>
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    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>UNITED
      STATES</b></font><b><font style="font-family: Times New Roman; font-size: 18pt"><br style="font-size: 18pt; font-family: Times New Roman"></font><font style="font-family: Times New Roman; font-size: 18pt">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><b>Washington, D.C. 20549</b><br><br><font style="font-family: Times New Roman"><b>_________________</b></font><br>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>FORM 8-K</b></font><br><font style="font-family: Times New Roman"><b>_________________</b></font><br><br><font style="font-family: Times New Roman; font-size: 12pt"><b>CURRENT
      REPORT</b></font><br><br><b>Pursuant to Section 13 or 15(d) of the</b><br><b>Securities
      Exchange Act of 1934</b><br><br><b>Date of Report (Date of earliest
      event reported): <font style="font-family: Times New Roman; font-size: 10pt">June
      25, 2012</font></b><br><font style="font-family: Times New Roman"><b>_________________</b></font><br><br><font style="font-size: 20pt"><b>CLEARWATER
      PAPER CORPORATION</b></font><br><font style="font-family: Times New Roman; font-size: 10pt"><b>(Exact
      name of registrant as specified in its charter)</b></font><br><br><font style="font-family: Times New Roman"><b>_________________</b></font><br><br>
    </p>
<div style="text-align:left">
    <table style="width: 100%; font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 33%; padding-left: 0.0px; text-align: center" valign="top">
          <b>Delaware</b><br><b>(State or other jurisdiction</b><br><b>of
          incorporation)</b>
        </td>
        <td style="width: 34%; padding-left: 0.0px; text-align: center" valign="top">
          <b>001-34146</b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Commission File Number)</b>
          </p>
        </td>
        <td style="width: 33%; padding-left: 0.0px; text-align: center" valign="top">
          <b>20-3594554</b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(IRS Employer</b><br><b>Identification No.)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="width: 100%; font-size: 10pt; font-family: Times New Roman; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 50%; padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>601 West Riverside Ave., Suite 1100</b>
          </p>
        </td>
        <td style="width: 50%">

        </td>
      </tr>
      <tr>
        <td style="width: 50%; padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Spokane, WA</b>
          </p>
        </td>
        <td style="padding-right: 0.0px; width: 50%; padding-left: 0.0px; text-align: center; white-space: nowrap" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>99201</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 50%; padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Address of principal executive offices)</b>
          </p>
        </td>
        <td style="width: 50%; padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Zip Code)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <b>Registrant&#8217;s telephone number, including area code:&#160;&#160;(509) 344-5900</b><br><font style="font-family: Times New Roman"><b>_________________</b></font><br>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">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:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p>

    </p>
    <p>

    </p>
    <div style="width: 100%; margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
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        <div style="font-size: 10pt; font-family: Times New Roman; text-align: center">
          1
        </div>
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          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b>Item 5.02.&#160;&#160;</b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>Departure
      of Directors or Certain Officers; Election of Directors; Appointment of
      Certain Officers; Compensatory Arrangements of Certain Officers</b>
    </p>
    <p style="text-indent: 60.0px">
      On June 26, 2012, Clearwater Paper Corporation announced that John D.
      Hertz will become Senior Vice President, Finance and Chief Financial
      Officer, effective August 6, 2012.&#160;&#160;Mr. Hertz will replace Johnathan D.
      Hunter, in his capacity as Interim Chief Financial Officer.&#160;&#160;Mr.
      Hunter&#8217;s role and title remains as Vice President and Controller for the
      Company.
    </p>
    <p style="text-indent: 60.0px">
      The Company and Mr. Hertz entered into an employment offer letter (the
      &#8220;Offer Letter&#8221;) providing for, among other things, an annual base salary
      of $400,000 per year.&#160;&#160;His 2012 target cash bonus under the Company&#8217;s
      annual incentive award plan will be 65% of his base salary, prorated for
      the portion of the 2012 calendar year that Mr. Hertz participates in the
      plan. Upon his joining the Company, Mr. Hertz will receive 20,000
      restricted stock units (&#8220;RSUs&#8221;), which will vest ratably over four years
      beginning on the first anniversary of the initiation of his employment.
      He will also receive a prorated award under the Company&#8217;s long-term
      incentive award plan for the period 2012 through 2014 with a target
      value of approximately $192,000, 75% of which will be in the form of
      performance shares, which will be settled in shares of Company stock
      ranging from zero to two times the initial stock award depending on the
      Company&#8217;s relative total stockholder return during such period compared
      to a peer group of companies, and 25% in RSUs, which vest on December
      31, 2014.
    </p>
    <p style="text-indent: 60.0px">
      Mr.&#160; Hertz will participate in the Company&#8217;s Severance Program for
      Executive Employees (as described in the Company&#8217;s most recent proxy
      statement), except that he will not receive an excise tax gross-up if
      his employment terminates within two years of a change of control of the
      Company.&#160;&#160;In addition to the regular benefits provided for under the
      Company&#8217;s Relocation Policy, Mr. Hertz also will be entitled to
      reimbursement of up to $200,000 of a loss upon the sale of this primary
      residence in connection with his relocation to Spokane, Washington.
    </p>
    <p style="text-indent: 60.0px">
      Prior to joining Clearwater Paper, Mr. Hertz, age 45, was the Vice
      President and Chief Financial Officer, of Novellus Systems, Inc. a
      position he held from June 2010 to June 2012. Previously he served as
      Novellus&#8217; Vice President of Corporate Finance and Principal Accounting
      Officer, a position he held from October 2007 to June 2010. Mr. Hertz
      joined Novellus in June 2007 as Vice President and Corporate Controller.
      Prior to joining Novellus Systems, Inc., Mr.&#160; Hertz worked for Intel
      Corporation, from 2000 to 2007 where he held a number of positions,
      including Central Finance Controller of the Digital Enterprise Group,
      Finance Controller of the Enterprise Platform Services Division and
      Accounting Policy Controller. Prior to joining Intel, Mr.&#160; Hertz was a
      Senior Manager with KPMG. Mr.&#160; Hertz received his Bachelor of Science in
      Business with an accounting emphasis from Montana State University and
      was a Practice Fellow at the Financial Accounting Standards Board from
      July 1998 to June 2000.
    </p>
    <p style="text-indent: 60.0px">
      A copy of the press release announcing the appointment of Mr. Hertz is
      attached hereto as Exhibit 99.1.&#160;&#160;A copy of the Offer Letter will be
      filed as an exhibit to the Company&#8217;s Quarterly Report on Form 10-Q for
      the quarter ended June 30, 2012.
    </p>
    <div style="width: 100%; margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt">
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          2
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        </div>
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        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="white-space: nowrap">
      <b>Item 9.01.&#160;&#160;</b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>Financial
      Statements and Exhibits</b>
    </p>
    <p style="text-align: justify; margin-left: 30.0px; white-space: nowrap">
      (d)&#160;&#160;<i>Exhibits.</i>
    </p>
    <p style="text-align: justify; margin-left: 30.0px; white-space: nowrap">
      <i>&#160;&#160;&#160;&#160;&#160;&#160;&#160;</i>99.1&#160;&#160;&#160;&#160;&#160;&#160;Press release
      issued by Clearwater Paper Corporation, dated June 26, 2012.
    </p>
    <div style="width: 100%; margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
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        <div style="font-size: 10pt; font-family: Times New Roman; text-align: center">
          3
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          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="margin-left: 90.0px; white-space: nowrap">

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font>
    </p>
    <p style="text-align: left; text-indent: 60.0px">
      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.<br><br>
    </p>
<div style="text-align:left">
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          &#160;
        </td>
        <td style="width: 5%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date:
          </p>
        </td>
        <td style="width: 36%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            June 26, 2012
          </p>
        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 4%; padding-left: 0.0px; text-align: left" valign="top">
          &#160;
        </td>
        <td style="width: 34%">

        </td>
        <td style="width: 10%">

        </td>
      </tr>
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        <td style="width: 9%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 36%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 34%; padding-left: 0.0px; text-align: left" valign="top">

        </td>
        <td style="width: 10%">
          &#160;
        </td>
      </tr>
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        <td style="width: 9%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 36%">

        </td>
        <td style="width: 2%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            CLEARWATER PAPER CORPORATION
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
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        <td style="width: 9%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 36%">

        </td>
        <td style="width: 2%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 34%">

        </td>
        <td style="width: 10%">

        </td>
      </tr>
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        <td style="width: 9%">

        </td>
        <td style="width: 5%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 36%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 2%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 4%">

        </td>
        <td style="width: 34%">

        </td>
        <td style="width: 10%">

        </td>
      </tr>
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        <td style="width: 9%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 36%">

        </td>
        <td style="width: 2%; padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            By:
          </p>
        </td>
        <td style="width: 4%">

        </td>
        <td style="border-bottom: solid black 1.0pt; width: 34%; padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Michael S. Gadd
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 9%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 36%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 4%">

        </td>
        <td style="padding-left: 0.0px; text-align: left" colspan="2" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Michael S. Gadd, Corporate Secretary
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="width: 100%; margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

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          4
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          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="white-space: nowrap">
      <u><b>Exhibit No.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Description</b></u>
    </p>
    <p style="white-space: nowrap">
      99.1 &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press release of Clearwater Paper
      Corporation dated June 26, 2012.
    </p>
    <p>
      <br>
      <br>

    </p>
    <p style="text-align: center">
      5
    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50324017-ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Clearwater
      Paper Announces John D. Hertz as Chief Financial Officer</b></font>
    </p>
    <p>
      SPOKANE, Wash.--(BUSINESS WIRE)--June 26, 2012--<b>Clearwater Paper
      Corporation (NYSE: CLW) </b>today announced the appointment of John D.
      Hertz as senior vice president, finance and chief financial officer.
      Hertz will assume the CFO responsibilities on August 6, 2012. He will
      replace Johnathan D. Hunter who has been serving as interim CFO, and Mr.
      Hunter&#8217;s role and title remains as vice president and controller.
    </p>
    <p>
      Hertz, 45, will have responsibility for financial reporting and
      controls, investor relations, risk management, tax and treasury
      functions. He most recently served as vice president and chief financial
      officer for Novellus Systems, Inc. Novellus is a semiconductor
      manufacturing equipment supplier with annual sales of approximately $1.6
      billion and a category leader. Prior to Novellus, he held senior
      positions at Intel Corporation including central finance controller of
      the digital enterprise group, finance controller of the enterprise
      platform services division and accounting policy controller. Prior to
      joining Intel, Mr. Hertz served as a senior manager with KPMG.
    </p>
    <p>
      &#8220;John&#8217;s 23-year track record as a successful senior leader in
      accounting, auditing and finance, combined with his strong investor
      relations management background, clearly make him a strong addition to
      our senior management team,&#8221; said Gordon Jones, chairman and chief
      executive officer.
    </p>
    <p>
      Hertz earned a Bachelor of Science in business with an accounting
      emphasis from Montana State University and was a practice fellow at the
      Financial Accounting Standards Board (FASB).
    </p>
    <div style="width: 100%; margin-right: 0pt; text-indent: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>ABOUT CLEARWATER PAPER</b>
    </p>
    <p>
      Clearwater Paper manufactures quality consumer tissue, away-from-home
      tissue, parent roll tissue, machine glazed tissue, bleached paperboard
      and pulp at 15 manufacturing locations in the U.S. and Canada. The
      company is a premier supplier of private label tissue to major retailers
      and wholesale distributors. This includes grocery, drug, mass merchants
      and discount stores. The company also produces bleached paperboard used
      by quality-conscious printers and packaging converters. Clearwater
      Paper's employees build shareholder value by developing strong customer
      relationships through quality and service.
    </p>
    <p>
      <b>FORWARD-LOOKING STATEMENTS</b>
    </p>
    <p>
      This press release contains certain forward-looking statements within
      the meaning of the Private Securities Litigation Reform Act of 1995, as
      amended. These forward-looking statements are based on current
      expectations that are subject to change, and actual results may differ
      materially from the forward-looking statements. Factors that could cause
      actual results to differ materially include those risks and
      uncertainties described from time to time in the company's public
      filings with the Securities and Exchange Commission. The company does
      not undertake to update any forward-looking statements.
    </p>
    <p style="text-align: center">
      <i><b>For additional information on Clearwater Paper, please visit our
      website at <u>www.clearwaterpaper.com</u></b></i>
    </p>
    <p style="text-align: center">

    </p>
    <p>
      CONTACT:<br>Clearwater Paper Corporation<br>(News media)<br>Matt Van
      Vleet, 509-344-5912<br>or<br>(Interim CFO)<br>John Hunter , 509-344-5947<br>or<br>(Investors)<br>Sean
      Butson (IR Sense), 509-344-5906
    </p>
    <p>

    </p>
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