<SEC-DOCUMENT>0001140361-14-014973.txt : 20140401
<SEC-HEADER>0001140361-14-014973.hdr.sgml : 20140401
<ACCEPTANCE-DATETIME>20140401060059
ACCESSION NUMBER:		0001140361-14-014973
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20140513
FILED AS OF DATE:		20140401
DATE AS OF CHANGE:		20140401
EFFECTIVENESS DATE:		20140401

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AXT INC
		CENTRAL INDEX KEY:			0001051627
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				943031310
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-24085
		FILM NUMBER:		14732194

	BUSINESS ADDRESS:	
		STREET 1:		4281 TECHNOLOGY DR.
		CITY:			FREMONT
		STATE:			CA
		ZIP:			94538
		BUSINESS PHONE:		510.438.4734

	MAIL ADDRESS:	
		STREET 1:		4281 TECHNOLOGY DR.
		CITY:			FREMONT
		STATE:			CA
		ZIP:			94538

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN XTAL TECHNOLOGY
		DATE OF NAME CHANGE:	19971217
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>formdef14a.htm
<DESCRIPTION>AXT, INC DEF 14A 5-13-2014
<TEXT>
<html>
<head>
<title></title>
<!--Licensed to: Thomson Reuters
    Document created using Disclosure Solutions PROFILE 2.5.3.0
    Copyright 1995 - 2014 Thomson Reuters Accelus.  All rights reserved.-->
</head>
<body style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" bgcolor="#ffffff" text="#000000">
<div>
<hr style="BORDER-BOTTOM: black 1px solid; BACKGROUND-COLOR: #ffffff; HEIGHT: 10px; COLOR: #ffffff; BORDER-TOP: black 4px solid">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 14pt; FONT-WEIGHT: bold">UNITED STATES</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 14pt; FONT-WEIGHT: bold">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Washington, D.C. 20549</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 18pt; FONT-WEIGHT: bold">SCHEDULE 14A</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Proxy Statement Pursuant to Section 14(a) of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">the Securities Exchange Act of 1934 (Amendment No.&#160; &#160; &#160; &#160; &#160; &#160; )</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Filed by the Registrant <font style="FONT-FAMILY: Wingdings; FONT-SIZE: 10pt">x</font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Filed by a Party other than the Registrant <font style="FONT-FAMILY: Wingdings; FONT-SIZE: 10pt">o</font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Check the appropriate box:</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt; FONT-FAMILY: Wingdings; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">o</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Preliminary Proxy Statement</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt; FONT-FAMILY: Wingdings; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">o</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold">Confidential, for Use of the Commission Only (as permitted by Rule 14a&#8209;6(e)(2))</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt; FONT-FAMILY: Wingdings; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">x</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Definitive Proxy Statement</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt; FONT-FAMILY: Wingdings; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">o</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Definitive Additional Materials</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt; FONT-FAMILY: Wingdings; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">o</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Soliciting Material Pursuant to &#167;240.14a&#8209;12</td>
</tr>
</table>
</div>

<div><br>
</div>

<div>
<div style="TEXT-ALIGN: center; TEXT-INDENT: -10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 10pt; FONT-SIZE: 24pt; FONT-WEIGHT: bold">AXT, Inc.</div>

<div style="TEXT-ALIGN: center">
<hr style="HEIGHT: 2px; COLOR: #000000" noshade="noshade">
 (Name of Registrant as Specified In Its Charter)</div>
</div>

<div style="TEXT-ALIGN: center">
<hr style="HEIGHT: 2px; COLOR: #000000" noshade="noshade">
 (Name of Person(s) Filing Proxy Statement, if other than the Registrant)</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Payment of Filing Fee (Check the appropriate box):</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt; FONT-FAMILY: Wingdings; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">x</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">No fee required.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt; FONT-FAMILY: Wingdings; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">o</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Fee computed on table below per Exchange Act Rules 14a&#8209;6(i)(1) and 0-11.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt">&#160;</td>
<td style="WIDTH: 27pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Title of each class of securities to which transaction applies:</td>
</tr>
</table>
</div>

<div style="MARGIN-LEFT: 54pt">&#160;</div>

<div style="MARGIN-LEFT: 54pt">
<hr style="TEXT-ALIGN: left; WIDTH: 100%; HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt">&#160;</td>
<td style="WIDTH: 27pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Aggregate number of securities to which transaction applies:</td>
</tr>
</table>
</div>

<div style="MARGIN-LEFT: 54pt">&#160;</div>

<div style="MARGIN-LEFT: 54pt">
<hr style="TEXT-ALIGN: left; WIDTH: 100%; HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt">&#160;</td>
<td style="WIDTH: 27pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(3)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0&#8209;11 (set forth the amount on which the filing fee is calculated and state how it was determined):</td>
</tr>
</table>
</div>

<div style="MARGIN-LEFT: 54pt">&#160;</div>

<div style="MARGIN-LEFT: 54pt">
<hr style="TEXT-ALIGN: left; WIDTH: 100%; HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt">&#160;</td>
<td style="WIDTH: 27pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(4)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Proposed maximum aggregate value of transaction:</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="MARGIN-LEFT: 54pt">
<hr style="TEXT-ALIGN: left; WIDTH: 100%; HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt">&#160;</td>
<td style="WIDTH: 27pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(5)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Total fee paid:</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 54pt">&#160;</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 54pt">
<hr style="TEXT-ALIGN: left; WIDTH: 100%; HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt; FONT-FAMILY: Wingdings; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">o</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Fee paid previously with preliminary materials.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt; FONT-FAMILY: Wingdings; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">o</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Check box if any part of the fee is offset as provided by Exchange Act Rule 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.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt">&#160;</td>
<td style="WIDTH: 27pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Amount Previously Paid:</td>
</tr>
</table>
</div>

<div style="MARGIN-LEFT: 54pt">&#160;</div>

<div style="MARGIN-LEFT: 54pt">
<hr style="TEXT-ALIGN: left; WIDTH: 100%; HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt">&#160;</td>
<td style="WIDTH: 27pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Form, Schedule or Registration Statement No.:</td>
</tr>
</table>
</div>

<div style="MARGIN-LEFT: 54pt">&#160;</div>

<div style="MARGIN-LEFT: 54pt">
<hr style="TEXT-ALIGN: left; WIDTH: 100%; HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt">&#160;</td>
<td style="WIDTH: 27pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(3)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Filing Party:</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="MARGIN-LEFT: 54pt">
<hr style="TEXT-ALIGN: left; WIDTH: 100%; HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 27pt">&#160;</td>
<td style="WIDTH: 27pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(4)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Date Filed:</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; MARGIN-LEFT: 54pt">
<hr style="TEXT-ALIGN: left; WIDTH: 100%; HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>

<div>
<hr style="BORDER-BOTTOM: black 4px solid; BACKGROUND-COLOR: #ffffff; HEIGHT: 10px; COLOR: #ffffff; BORDER-TOP: black 1px solid">
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div><img src="image00002.jpg"><br>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">April 1, 2014</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Dear Stockholder:</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">You are cordially invited to attend the annual meeting of stockholders of AXT, Inc. on Tuesday, May 13, 2014, at 10:00 a.m. Pacific Daylight Time. The meeting will be held at our principal offices located at 4281 Technology Drive, Fremont, California 94538.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">This year, we are continuing to use the Internet as our primary means of furnishing proxy materials to stockholders. Consequently, most stockholders will not receive paper copies of our proxy materials. We will instead send these stockholders a notice with instructions for accessing the proxy materials and voting via the Internet. The notice also provides information on how stockholders may obtain paper copies of our proxy materials if they so choose. This makes the proxy distribution process more efficient and less costly, and helps conserve natural resources.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Whether or not you plan to attend the meeting, your vote is very important and we encourage you to vote promptly.&#160; As an alternative to voting in person at the annual meeting, you may vote via the Internet, by telephone or, if you receive a paper proxy card in the mail, by mailing the completed proxy card. It is important that you use this opportunity to take part in our affairs by voting on the business to come before this meeting. Regardless of the number of shares you own, your careful consideration of, and vote on, the matters before our stockholders is important.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">At the annual meeting we will review our activities over the past year and our plans for the future. The Board of Directors and management look forward to seeing you at the annual meeting.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 50.88%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 49.12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Sincerely yours,</div>
</td>
</tr>

<tr>
<td style="WIDTH: 50.88%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 49.12%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>

<div><img src="sig1.jpg"></div>
</td>
</tr>

<tr>
<td style="WIDTH: 50.88%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 49.12%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-VARIANT: small-caps; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">MORRIS S. YOUNG</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Chief Executive Officer</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Interim Chief Financial Officer</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">and Corporate Secretary</div>
</td>
</tr>
</table>

<div><br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: center"><img src="image00002.jpg"><br>
</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: -36pt; MARGIN-LEFT: 36pt">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NOTICE OF ANNUAL MEETING OF STOCKHOLDERS</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TO BE HELD TUESDAY, MAY 13, 2014</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">TO THE STOCKHOLDERS:</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Notice is hereby given that the annual meeting of the stockholders of AXT, Inc., a Delaware corporation, will be held on Tuesday, May 13, 2014, at 10:00 a.m. Pacific Daylight Time, at our principal offices located at 4281 Technology Drive, Fremont, California 94538, for the following purposes:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">1.</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">To elect two (2) Class I directors to hold office for a three<font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#8209;</font>year term and until their successors are elected and qualified.</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt">&#160;</td>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">To approve, on an advisory basis, the compensation of our named executive officers.</div>
</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">3.</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">To ratify the appointment of Burr Pilger Mayer, Inc. as our independent registered public accounting firm for the fiscal year ending December 31, 2014.</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt">&#160;</td>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">To transact such other business as may properly come before the meeting.</div>
</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Stockholders of record at the close of business on March 20, 2014 are entitled to notice of, and to vote at, this meeting and any adjournment or postponement. For ten days prior to the meeting, a complete list of stockholders entitled to vote at the meeting will be available for examination by any stockholder, for any purpose relating to the meeting, during ordinary business hours at our principal offices located at 4281 Technology Drive, Fremont, California 94538.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 50%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">By order of the Board of Directors,</div>
</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 50%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>

<div><img src="sig1.jpg"></div>

<div>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 50%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 50%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-VARIANT: small-caps; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">MORRIS S. YOUNG</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Chief Executive Officer</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Interim Chief Financial Officer</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">and Corporate Secretary</div>
</td>
</tr>
</table>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Fremont, California</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">April 1, 2014</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, Serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; WIDTH: 100%; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 9pt; FONT-SIZE: 10pt"><font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">IMPORTANT: </font><font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Your vote is important. Whether or not you plan to attend the meeting, we encourage you to vote your shares via a toll-free telephone number or over the Internet according to the instructions on the proxy card. To vote and submit your proxy by mail, p</font>lease fill in, date, sign and promptly mail the enclosed proxy card in the accompanying postage-paid envelope to assure that your shares are represented at the meeting.&#160; If you attend the meeting, you may choose to vote in person even if you have previously sent in your proxy card.</div>
</td>
</tr>
</table>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">MEETING OF STOCKHOLDERS TO BE HELD ON MAY 13, 2014</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The proxy materials, including this proxy statement, proxy card or voting instruction card and our 2013 Annual Report, are being distributed and made available on or about April 3, 2014. This proxy statement contains important information for you to consider when deciding how to vote on the matters brought before the meeting. Please read it carefully. </div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">In accordance with rules and regulations adopted by the U.S. Securities and Exchange Commission (the "SEC"), we have elected to provide our stockholders access to our proxy materials over the Internet. Accordingly, a Notice of Internet Availability of Proxy Materials (the "Notice") will be mailed on or about April 3, 2014 to most of our stockholders who owned our common stock at the close of business on the record date, March 20, 2014. Stockholders will have the ability to access the proxy materials on a website referred to in the Notice or request a printed set of the proxy materials be sent to them by following the instructions in the Notice.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Notice will also provide instructions on how you can elect to receive future proxy materials electronically or in printed form by mail. If you choose to receive future proxy materials electronically, you will receive an email next year with instructions containing a link to the proxy materials and a link to the proxy voting site. Your election to receive proxy materials electronically or in printed form by mail will remain in effect until you terminate such election. </div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Choosing to receive future proxy materials electronically will allow us to provide you with the information you need in a timelier manner, save us the cost of printing and mailing documents to you and conserve natural resources. </div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Annual Meeting will be held on Tuesday May 13, 2014, at 10:00 a.m. Pacific Daylight Time, for the following purposes:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">1.</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">To elect two (2) Class I directors to hold office for a three<font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#8209;</font>year term and until their successors are elected and qualified.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt">&#160;</td>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">2.</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">To approve, on an advisory basis, the compensation of our named executive officers.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">3.</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">To ratify the appointment of Burr Pilger Mayer, Inc. as our independent registered public accounting firm for the fiscal year ending December 31, 2014.</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt">&#160;</td>
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">To transact such other business as may properly come before the meeting.</div>
</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Our board of directors recommends a vote FOR Items 1, 2 and 3.&#160; If you wish to attend the meeting in person, the meeting will be held at our principal offices located at 4281 Technology Drive, Fremont, California 94538, which can be reached by the following directions:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">On highway 880 take the Auto Mall Pkwy exit and head east, and turn right into Technology Drive.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">On highway 680 take the Auto Mall Pkwy exit and head west, and turn left into Technology Drive.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">PROXY STATEMENT FOR ANNUAL MEETING OF STOCKHOLDERS</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The accompanying proxy is solicited by the Board of Directors of AXT, Inc., a Delaware corporation (&#8220;AXT&#8221; or the &#8220;Company&#8221;), for use at AXT&#8217;s annual meeting of stockholders to be held on May 13, 2014, or any adjournment or postponement thereof, for the purposes set forth in the accompanying Notice of Annual Meeting of Stockholders. <font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The proxy materials, including this proxy statement, proxy card or voting instruction card and our 2013 Annual Report, are being distributed and made available on or about April 3, 2014.</font></div>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SOLICITATION AND VOTING</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Voting Rights and Outstanding Securities.</font>&#160; Only stockholders of record as of the close of business on March 20, 2014, the record date, will be entitled to vote at the meeting and any adjournment thereof. As of that time, we had 32,604,958<font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</font>shares of common stock outstanding, all of which are entitled to vote with respect to all matters to be acted upon at the annual meeting. Shares of our Series A Preferred Stock are not entitled to vote on any matters at the meeting. Each stockholder of record as of the record date is entitled to one vote for each share of our common stock held by such stockholder. Our bylaws provide that a majority of all of the shares of the stock entitled to vote, whether present in person or represented by proxy, shall constitute a quorum for the transaction of business at the meeting. Votes for and against, abstentions and &#8220;broker non-votes&#8221; (shares held by a broker or nominee for which the broker or nominee does not have the authority, either express or discretionary, to vote on a particular matter) will each be counted as present for purposes of determining the presence of a quorum.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Broker Non-Votes.</font>&#160; A broker non-vote occurs when a broker submits a proxy card with respect to shares held in a fiduciary capacity (typically referred to as being held in &#8220;street name&#8221;) but declines to vote on a particular matter because the broker has not received voting instructions from the beneficial owner. Under the rules that govern brokers who are voting with respect to shares held in street name, brokers have the discretion to vote such shares on routine matters, but not on non-routine matters. The ratification of auditors is considered a routine matter.&#160; Your stockbroker, bank or other nominee will not be able to vote on any other matters set forth in this proxy statement unless they have your voting instructions, so it is very important that you indicate your voting instructions to the institution holding your shares by completing and returning the voting instruction card.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Solicitation of Proxies.</font>&#160; We will bear the cost of soliciting proxies. In addition to soliciting stockholders by mail through our employees, we will request banks, brokers and other custodians, nominees and fiduciaries to solicit customers for whom they hold our stock and will reimburse them for their reasonable, out-of-pocket costs. We may use the services of our officers, directors and others to solicit proxies, personally or by telephone, without additional compensation.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Vote Required</font>.&#160; If a quorum is present, the two nominees for directors receiving the highest number of votes will be elected as Class I directors.&#160; Advisory approval of the compensation of our named executive officers require the affirmative vote of the holders of a majority of the shares of our common stock present or represented by proxy and voting at the annual meeting. The affirmative vote of the holders of a majority of the shares of our common stock present or represented by proxy and voting at the annual meeting is required to approve the ratification of the selection of our independent auditors. Broker non-votes will have no effect on the election of directors or the advisory vote on executive compensation. If you vote to abstain on the proposal to ratify the selection of our independent auditors or on the advisory vote on executive compensation, it will have the same effect as a vote against the proposal.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">1</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Voting of Proxies.</font>&#160; All valid proxies received before the meeting will be exercised. All shares represented by a proxy will be voted, and where a proxy specifies a stockholder&#8217;s choice with respect to any matter to be acted upon, the shares will be voted in accordance with that specification. If no choice is indicated on the proxy, the shares will be voted as the board of directors recommends on each proposal.&#160; The persons named as proxies will vote on any other matters properly presented at the Annual Meeting in accordance with their best judgment.&#160; A stockholder giving a proxy has the power to revoke his or her proxy at any time before it is exercised by delivering to our Corporate Secretary a written instrument revoking the proxy or a duly executed proxy with a later date, or by attending the meeting and voting in person.&#160; Attendance at the Annual Meeting will not, in and of itself, constitute revocation of a proxy.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Voting by Telephone or the Internet or mail.</font>&#160; If you hold shares through a bank or brokerage firm, you may be able to simplify your voting process and save us expense by voting your shares by telephone or over the Internet. The bank or brokerage firm through which you hold your shares will provide you with separate instructions on a form you will receive from them. Many such firms make telephone or Internet voting available, but the specific processes available will depend on those firms&#8217; individual arrangements. When you vote by phone or over the Internet, your vote is recorded immediately. We encourage our stockholders to vote using these methods whenever possible. If you attend the annual meeting, you may also submit your vote in person, and any previous votes that you submitted, whether by phone, over the Internet or by mail, will be superseded by the vote that you cast at the annual meeting.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">How To Obtain A Separate Set of Proxy Materials.</font>&#160; To reduce the expense of delivering duplicate proxy materials to our stockholders who may have more than one AXT stock account, unless otherwise requested, pursuant to current householding rules, we will deliver only one set of proxy materials to stockholders who share the same address. If you share an address with another stockholder and have received only one set of proxy materials, you may write or call us to request a separate copy of these materials at no cost to you. For future annual meetings, you may request separate proxy materials, or request that we send only one set of proxy materials to you if you are receiving multiple copies, by calling our Investor Relations department at: (510) 683-5900, or by writing us at: AXT, Inc., 4281 Technology Drive, Fremont, CA 94538, Attention: Investor Relations.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Communicating with AXT.</font>&#160; You can obtain information about us by one of the following methods:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Our home page on the Internet, located at <font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">www.axt.com</font>, gives you access to product and marketing information, in addition to recent press releases, financial information and stock quotes, as well as links to our filings with the Securities and Exchange Commission. Online versions of this Proxy Statement, our 2013 Annual Report on Form 10-K, and our letter to stockholders are located under the &#8220;Investors&#8221; section on our website at <font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">www.axt.com</font>.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">To have information such as our latest quarterly earnings release, Form 10-K, Form 10-Q or annual report mailed to you, please contact our Investor Relations at (510) 683-5900 or by email at: <font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">ir@axt.com</font>.</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">For all other matters, please contact our Investor Relations at (510) 683-5900, or send your correspondence to the following address:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 52.2%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 47.8%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">AXT, Inc.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4281 Technology Drive</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Fremont, CA 94538</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Attention: Investor Relations</div>
</td>
</tr>
</table>

<div><br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">2</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">PROPOSAL NO. 1</div>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ELECTION OF DIRECTORS</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">We have a classified Board of Directors consisting of two Class I directors, two Class II directors and one Class III director, who will serve until the annual meetings of stockholders to be held in 2014, 2015, and 2016, respectively, and until their respective successors are duly elected and qualified. At each annual meeting of stockholders, directors are elected for a term of three years to succeed those directors whose terms expire at the annual meeting dates.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The terms of the Class I directors will expire on the date of the annual meeting. Accordingly, two nominees are to be elected to serve as the Class I directors of the Board of Directors at the annual meeting. Management&#8217;s nominees for election by the stockholders to these positions are the current Class I members of the Board of Directors, Messrs. Morris S. Young and David C. Chang. If elected, these nominees will serve as directors until our annual meeting of stockholders in 2017 and until their successors are elected and qualified. If any nominee declines to serve or becomes unavailable for any reason, the proxies may be voted for such substitute nominees as the Board of Directors may designate.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">If a quorum is present and voting, the two nominees for Class I directors receiving the highest number of votes will be elected as Class I directors.&#160; Abstentions and broker non-votes have no effect on the vote.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vote Required and Board of Directors Recommendation</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 54pt; FONT-SIZE: 10pt">The two nominees for directors receiving the highest number of votes will be elected as Class I directors.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 54pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The Board of Directors recommends a vote &#8220;FOR&#8221; the nominees named above.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 54pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The following table sets forth, for our current directors, including the Class I nominees to be elected at this meeting, and non-director Executive Officers, information with respect to their ages and background:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 25%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Name</u></div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 54%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Principal Occupation</u></div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Age</u></div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Director</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Since</u></div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div></div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-STYLE: italic; TEXT-INDENT: -10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 10pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Class I directors nominated for re-election at the 2014 Annual Meeting of Stockholders:</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap"></td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Morris S. Young</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 54%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Director, Chief Executive Officer, Interim Chief Financial Officer</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 8.63%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">69</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1989</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 54%; VERTICAL-ALIGN: bottom" valign="bottom">and Corporate Secretary</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 8.63%; VERTICAL-ALIGN: bottom" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap"></td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 12%; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 8.63%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">David C. Chang</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 54%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Director</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 8.63%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">72</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div></div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-STYLE: italic; TEXT-INDENT: -10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 10pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Class II directors whose terms expire at the 2015 Annual Meeting of Stockholders:</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap"></td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Jesse Chen</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 54%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Chairman of the Board</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 8.63%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">56</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1998</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Nai-Yu Pai</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 54%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Director</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 8.63%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">64</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2010</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap"></td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div></div>

<div style="TEXT-ALIGN: center; FONT-STYLE: italic; TEXT-INDENT: -10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 10pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Class III director whose terms expire at the 2016 Annual Meeting of Stockholders:</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap"></td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 10pt; FONT-SIZE: 10pt">Leonard J. LeBlanc</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 54%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Director</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 8.63%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">73</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2003</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div></div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-STYLE: italic; TEXT-INDENT: -10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 20pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Non-director Executive Officers:</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap"></td>
</tr>

<tr style="HEIGHT: 12px">
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Davis Zhang</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 54%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">President, China Operations</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 8.63%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">58</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 25%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Robert G. Ochrym</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 54%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Vice President, Business Development, Strategic Sales and Marketing</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 8.63%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">62</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">3</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Members of the Board of Directors</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Morris S. Young, Ph.D.</font> co-founded AXT in 1986 and has served as a director since 1989. He was reappointed as our chief executive officer on July 16, 2009. From 2004 until his retirement in 2006, Dr. Young served as our chief technology officer. Dr. Young served as our chairman of the Board of Directors from February 1998 to May 2004 and as our president and chief executive officer from 1989 to May 2004. From 1985 to 1989, Dr. Young was a physicist at Lawrence Livermore National Laboratory. Dr. Young has a B.S. degree in metallurgical engineering from National Cheng Kung University, Taiwan, a M.S. degree in metallurgy from Syracuse University, and a Ph.D. in metallurgy from Polytechnic University.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Board has determined that Dr. Young&#8217;s long history with the Company, as well as his breadth of experience and on-going, active involvement in the semiconductor industry, make him a valuable asset to the Board.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">David C. Chang, Ph.D.</font> has served as one of our directors since December 2000. Dr. Chang has served as president of Polytechnic University in New York (now known as Polytechnic Institute of New York University) from 1994 to 2005 and President Emeritus and chancellor from 2005 to present. Previously, Dr. Chang was dean of the College of Engineering and Applied Sciences at Arizona State University. Dr. Chang served as a director of the NSF/Industry Corporate Research Center for Microwave and Millimeter-Wave Computer Aided Design from 1981 to 1989. Dr. Chang is a member of the board of directors of Time Warner Cable. Dr. Chang has a M.S. degree and a Ph.D. in applied physics from Harvard University and a B.S. degree in electrical engineering from National Cheng Kung University, Taiwan.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Board has determined that Dr. Chang&#8217;s extensive experience in the semiconductor industry allows him to make significant contributions to the strategic direction of the Company.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Jesse Chen</font> has served as one of our directors since February 1998 and was Chairman of the Board of Directors from May 2004 until October 2007, at which time he was appointed our lead independent director. Since March 2009, Mr. Chen has served as our Chairman of the Board of Directors. Since May 1997, Mr. Chen has served as a managing director of Maton Ventures, an investment company. From 1990 to 1996, Mr. Chen served as chief executive officer of BusLogic, Inc., a fabless semiconductor and computer peripherals company. Mr. Chen serves on the board of directors of several private companies. Mr. Chen has a B.S. degree in aeronautical engineering from National Cheng Kung University, Taiwan and a M.S. degree in electrical engineering from Loyola Marymount University.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Board has determined that Mr. Chen&#8217;s experience as a CEO and his investment background provides him with the experience and knowledge in compensation and governance matters for technology companies to enhance his contributions to the Board and its committees.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Nai-Yu Pai</font> has served as one of our directors since August 2010. Mr. Pai has more than 35 years of accounting and auditing experience.&#160; He is the founder of Pai Accountancy, LLP and a partner since 1977. From May 2009 to May 2012, Mr. Pai served as chief executive officer and a director of F2Ware Inc., a privately held secure software solutions company. From March 2001 to May 2012, Mr. Pai also served as chief executive officer and a director of Authenex, Inc., a venture capital funded two-factor authenticated e-security applications company. Mr. Pai also serves on the board of directors of several other private companies. As a consultant, Mr. Pai has assisted a number of companies with fundraising and mergers and acquisitions, such as Marvell Semiconductor, @Road, Silicon Motion Inc, Accton Technology Corp., Amlogic, Global Manufacture and others. Mr. Pai is a certified public accountant who holds a Master&#8217;s Degree in accounting from Saint John&#8217;s University in New York, where his primary area of emphasis in taxation and auditing.&#160; He also holds another Master&#8217;s degree in Taxation from Golden Gate University.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Board has determined that Mr. Pai&#8217;s strong financial background, extensive board-level experience and expertise in working with technology companies will contribute to the Board and the audit committee.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">4</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Leonard J. LeBlanc</font> has served as one of our directors since April 2003. Mr. LeBlanc served as the acting chief financial officer and vice president of corporate development for Ebest, Inc., a privately held applications software company, from February 2001 to September 2003. Mr. LeBlanc was the executive vice president and chief financial officer of Vantive Corporation, a customer relationship management software and solution company, from August 1998 to January 2000. From March 1996 to July 1997, Mr. LeBlanc was the executive vice president of finance and administration and chief financial officer at Infoseek Corporation, an internet search and navigation company. From September 1993 to December 1994, Mr. LeBlanc served as senior vice president, finance and administration of GTECH Corporation, a manufacturer of lottery equipment and systems. From May 1987 to December 1992, Mr. LeBlanc served as executive vice president, finance and administration and chief financial officer of Cadence Design Systems, Inc., an electronic design automation software company. Mr. LeBlanc served on the board of directors and as chairman of the audit committee of Oplink Communications, Inc., a provider of optical manufacturing solutions and optical networking components from 2000 to 2009 and as chairman of the Board from 2006 to 2009. From November 2009 to November 2010, he was a consultant to Oplink Communications, Inc. Mr. LeBlanc has B.S. and M.S. degrees from the College of Holy Cross, and an M.S. degree in finance from George Washington University.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Board has determined that Mr. LeBlanc&#8217;s financial expertise, his background and experience in the finance function in a number of companies make him a valuable contributor to the Board as well as to the audit committee.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">5</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CORPORATE GOVERNANCE</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Director Independence</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Board of Directors (the &#8220;Board&#8221;) has determined that, other than Morris S. Young, each of the members of the Board is an independent director for purposes of the Nasdaq Stock Market listing standards.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Executive Sessions</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Our independent directors meet in an executive session without management present each time the Board holds its regularly scheduled meetings. Mr. Jesse Chen, an independent director, was designated by the Board as the non-executive Chairman of the Board.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Committees and Meeting Attendance</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Board has an Audit Committee, a Compensation Committee and a Nominating and Corporate Governance Committee. Each of these committees operates under a written charter adopted by the Board. Copies of these charters are available on our website at <font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">www.axt.com</font>. The Board held 8 meetings during the fiscal year ended December 31, 2013. Each of the standing committees of the Board held the number of meetings indicated below. During the last fiscal year, each of our directors attended at least 75% of the total number of meetings of the Board and of the committees of the Board on which such director served during that period. Directors are encouraged to attend our annual meetings of stockholders. Messrs. Jesse Chen and Leonard LeBlanc attended our 2013 annual meeting of stockholders while Dr. David Chang and Mr. Nai-Yu Pai were absent.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The following table sets forth the three standing committees of the Board, the members of each committee during the last fiscal year and the number of meetings held by each committee:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: black 2px solid; WIDTH: 22%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Name of Director</div>
</td>
<td style="WIDTH: 34%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: black 2px solid; VERTICAL-ALIGN: bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Audit</div>
</td>
<td style="WIDTH: 1.02%; VERTICAL-ALIGN: bottom"></td>
<td style="BORDER-BOTTOM: black 2px solid; VERTICAL-ALIGN: bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Compensation</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom"></td>
<td style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nominating and</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Corporate Governance</div>
</div>
</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" colspan="2">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Jesse Chen</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: Wingdings; FONT-SIZE: 10pt">&#252;</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom"></td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: Wingdings; FONT-SIZE: 10pt">&#252;</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom"></td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: Wingdings; FONT-SIZE: 10pt">&#252;</font> (Chair)</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" colspan="2">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">David C. Chang</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: Wingdings; FONT-SIZE: 10pt">&#252;</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom"></td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: Wingdings; FONT-SIZE: 10pt">&#252;</font> (Chair)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom"></td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: Wingdings; FONT-SIZE: 10pt">&#252;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" colspan="2">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Leonard J. LeBlanc</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: Wingdings; FONT-SIZE: 10pt">&#252;</font> (Chair)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom"></td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: Wingdings; FONT-SIZE: 10pt">&#252;</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom"></td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: Wingdings; FONT-SIZE: 10pt">&#252;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" colspan="2">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Nai-Yu Pai</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: Wingdings; FONT-SIZE: 10pt">&#252;</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom"></td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: Wingdings; FONT-SIZE: 10pt">&#252;</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom"></td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: Wingdings; FONT-SIZE: 10pt">&#252;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" colspan="2">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Number of Meetings:</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">7</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1.02%; VERTICAL-ALIGN: bottom"></td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom"></td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3</div>
</td>
</tr>
</table>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Audit Committee</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The members of the Audit Committee during 2013 were David C. Chang, Jesse Chen, Leonard J. LeBlanc and Nai-Yu Pai. The Board has determined that all Audit Committee members are &#8220;independent&#8221; as defined under the applicable Nasdaq listing standards and SEC rules and regulations and as such rules apply to audit committee members. The Board has determined that each of Mr. Leonard LeBlanc, Mr. Jesse Chen and Mr. Nai-Yu Pai is an &#8220;audit committee financial expert&#8221; as defined by the rules and regulations of the SEC. The Audit Committee&#8217;s functions include:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">overseeing the accounting, financial reporting and audit processes;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">reviewing the qualifications, independence and performance, and approving the terms of engagement, of the independent registered public accounting firm;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">reviewing the results and scope of audit and other services provided by the independent registered public accounting firm;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">6</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">reviewing the accounting principles and auditing practices and procedures to be used in preparing our financial statements; and</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">reviewing our internal controls.</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">For additional information concerning the Audit Committee, see &#8220;Audit Committee Report&#8221; and &#8220;Proposal No. 3 Ratification of Appointment of Independent Registered Public Accounting firm.&#8221;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Compensation Committee</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The members of our Compensation Committee during 2013 were David C. Chang, Jesse Chen, Leonard J. LeBlanc and Nai-Yu Pai. The Board has determined that all members of the Compensation Committee are &#8220;independent&#8221; as the term is defined by applicable Nasdaq listing standards and SEC rules.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Compensation Committee has been delegated the responsibility by the Board to oversee the programs under which compensation is paid or awarded to our executive officers and to evaluate the performance of our executive officers. The Compensation Committee has been delegated the authority to: (i) oversee our compensation policies and practices; (ii) review and approve compensation and compensation procedures for our executive officers; (iii) oversee and approve director compensation, and (iv) oversee and approve equity awards to our employees, officers and directors. More specifically, the Compensation Committee&#8217;s responsibilities include: overseeing our general compensation structure, policies and programs, and assessing whether our compensation structure establishes appropriate incentives for management and employees; administering our incentive compensation and equity&#8209;based compensation plans, including our stock option plans; reviewing and approving compensation procedures for our executive officers; approving the compensation of the Chief Executive Officer based on relevant corporate goals and objectives and the Board&#8217;s performance evaluation of the Chief Executive Officer; reviewing and approving the compensation of executive officers other than the Chief Executive Officer; approving employment and retention agreements and severance arrangements for executive officers, including change-in-control provisions, plans or agreements; and approving the compensation of directors for service on the Board and its committees and recommending changes in compensation to the Board. The Chief Executive Officer does not participate in discussions or approvals related to his compensation. Regarding most compensation matters, including executive and director compensation, our management provides recommendations to the Compensation Committee. In addition, the Compensation Committee has engaged Compensia, an outside compensation consulting firm, to review our compensation programs for executive officers and to provide advice on executive officer compensation matters.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The agenda for meetings of the Compensation Committee is determined by its Chairman with the assistance of the Chief Executive Officer and the Chief Financial Officer. Compensation Committee meetings are regularly attended by the Chief Executive Officer and the Chief Financial Officer. The Compensation Committee periodically meets in executive session without members of management present. The Compensation Committee has authority under its charter to retain, approve fees for and terminate advisors, consultants and agents as it deems necessary to assist in the fulfillment of its responsibilities. The Compensation Committee reviews the total fees paid to outside consultants by us to ensure that the consultant maintains its objectivity and independence when rendering advice to the committee.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nominating and Corporate Governance Committee</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The members of our Nominating and Corporate Governance Committee during 2013 were David C. Chang, Jesse Chen, Leonard J. LeBlanc and Nai-Yu Pai. The Board has determined that all members of the Nominating and Corporate Governance Committee are &#8220;independent&#8221; as the term is defined by applicable Nasdaq listing standards and SEC rules. The Nominating and Corporate Governance Committee is responsible for evaluating and selecting director nominees, determining criteria for selecting new directors, developing and reviewing on an ongoing basis the adequacy of the corporate governance principles and guidelines adopted by the Board, overseeing the evaluation of the Board and committees of the Board, and adopting, approving, monitoring and enforcing compliance with the Code of Business Conduct and Ethics.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">7</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Director Nominations</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Director Qualifications.</font> The Nominating and Corporate Governance Committee considers the following factors in reviewing possible candidates for nomination as director:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">the appropriate size of our Board and its Committees;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">the perceived needs of the Board for particular skills, background and business experience;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">the skills, background, reputation, and business experience of nominees compared to the skills, background, reputation, and business experience already possessed by other members of the Board;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">nominees&#8217; independence from management;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">applicable regulatory and listing requirements, including independence requirements and legal considerations, such as antitrust compliance;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">the benefits of a constructive working relationship among directors; and</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">the desire to balance the considerable benefit of continuity with the periodic injection of the fresh perspective provided by new members.</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Nominating and Corporate Governance Committee&#8217;s goal is to assemble a Board of Directors consisting of a variety of perspectives and skills derived from high quality business and professional experience. The Nominating and Corporate Governance Committee does not have a formal policy with respect to diversity, but it does consider Board candidates and/or nominees who represent a mix of backgrounds, diversity of race and ethnicity, gender, age, skills and experience that enhance the quality of the Board&#8217;s deliberations and decisions.&#160; Other than the foregoing, there are no stated minimum criteria for director nominees, although the Nominating and Corporate Governance Committee may also consider such other factors as it may deem, from time to time, are in the best interests of the Company and our stockholders. The Nominating and Corporate Governance Committee believes that it is important that at least one member of the Board should meet the criteria for an &#8220;audit committee financial expert&#8221; as defined by SEC rules. Under applicable listing requirements, at least a majority of the members of the Board must meet the definition of &#8220;independent director.&#8221; The Nominating and Corporate Governance Committee also believes it appropriate for one or more key members of our management to participate as a member of the Board.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Other than the foregoing, there are no stated minimum criteria for director nominees, although the Nominating and Corporate Governance Committee may also consider such other factors as it may deem, from time to time, are in the best interests of the Company and our stockholders.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Identification and Evaluation of Nominees for Director.</font>&#160; The Nominating and Corporate Governance Committee identifies nominees by first evaluating the current members of the Board willing to continue in service. Current members of the Board with skills and experience that are relevant to our business and who are willing to continue in service are considered for re-nomination, balancing the value of continuity of service by existing members of the Board with that of obtaining a new perspective. If any member of the Board does not wish to continue in service or if the Nominating and Corporate Governance Committee or the Board decides not to re-nominate a member for re-election, the Nominating and Corporate Governance Committee will identify the desired skills and experience of a new nominee in light of the criteria above. Current members of the Nominating and Governance Committee and the Board are polled for suggestions as to individuals meeting the criteria of the Nominating and Corporate Governance Committee. Research may also be performed to identify qualified individuals.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">8</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Nominating and Corporate Governance Committee considers properly submitted stockholder recommendations for candidates for membership on the Board. Our Bylaws contain provisions which address the process by which a stockholder may nominate an individual to stand for election to the Board at our annual meeting of stockholders. Candidates so recommended will be reviewed using the same process and standards for reviewing candidates identified above under &#8220;Identification and Evaluation of Nominees for Director.&#8221; In order to be evaluated in connection with the Nominating and Corporate Governance Committee&#8217;s established procedures for evaluating potential director nominees, any recommendation for director nominees submitted by a stockholder must be sent in writing to the Corporate Secretary, 4281 Technology Drive, Fremont, CA 94538, at least 120 days prior to the anniversary of the date proxy statements were mailed to stockholders in connection with the prior year&#8217;s annual meeting of stockholders and must contain the following information:</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">the candidate&#8217;s name, age, contact information and present principal occupation or employment;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">a description of the candidate&#8217;s qualifications, skills, background, and business experience during, at a minimum, the last five years, including his/her principal occupation and employment and the name and principal business of any corporation or other organization in which the candidate was employed or served as a director; and</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">a statement signed by the candidate that the candidate is willing to be considered and willing to serve as a director if nominated and elected.</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Nominating and Corporate Governance Committee will evaluate incumbent directors, as well as candidates for director nominee submitted by directors, management, and stockholders consistently using the criteria stated in this policy and will select the nominees that in the Nominating and Corporate Governance Committee&#8217;s judgment best suit the needs of the Board at that time.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Communications with Directors</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Stockholders may communicate with the Board by writing to us at AXT, Inc., 4281 Technology Drive, Fremont, CA 94538, Attention: Corporate Secretary. Your letter should indicate that you are an AXT stockholder. Stockholders who would like their submission directed to a member of the Board may so specify, and the communication will be forwarded as appropriate. Depending on the subject matter, management will (i) forward the communication to the director or directors to whom it is addressed; (ii) attempt to handle the inquiry directly, for example where it is a request for information about us or it is a stock related matter; or (iii) not forward the communication if it is primarily commercial in nature, comprises spam, junk mail, mass mailings, product complaints or inquiries, job inquiries business solicitations, or relates to otherwise inappropriate matters.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Board Leadership Structure</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Board has determined that the positions of Chairman of the Board and Chief Executive Officer should be separated.&#160; Mr. Chen currently serves as our Chairman of the Board and Dr. Young currently serves as our Chief Executive Officer.&#160; The Board believes that the separation of these positions allows the Chief Executive Officer to focus more on the operations of the Company, and provides a more effective channel for the Board to express its views on management.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Board&#8217;s Role in Risk Oversight</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Board&#8217;s risk oversight function is administered through board committees. Generally, the committee with subject matter expertise in a particular area is responsible for overseeing the management of risk in that area. For example, the Audit Committee oversees the management of financial, accounting and internal control risks, the Compensation Committee oversees the management of risks in the Company&#8217;s compensation programs, and the Nominating and Corporate Governance Committee oversees compliance with Company policies.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">9</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">We have an internal audit function that reports directly to the Audit Committee. The Audit Committee reviews and approves the internal audit plan once a year and receives periodic updates of internal audit activity in meetings held at least quarterly throughout the year. Updates include discussion of audit project results, quarterly assessment of internal controls and risks of fraud.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">In carrying out their risk oversight duties, the committees review management&#8217;s implementation of risk policies and procedures, and reviews reports from management, independent auditors, internal audit, legal counsel, regulators and outside experts, as appropriate, regarding risks the Company faces.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Board and its committees are committed to ensuring effective risk management oversight and work with management to ensure that effective risk management strategies are incorporated into the Company&#8217;s culture and day-to-day business operations.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Code of Business Conduct and Ethics</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Board has adopted a Code of Business Conduct and Ethics applicable to all of our employees and directors, including our Chief Executive Officer, Chief Financial Officer, and Corporate Controller, which is available under the &#8220;Investors&#8221; section on our website at <font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">www.axt.com</font>. In addition, we will provide a copy of the Code of Business Conduct and Ethics upon request made in writing to us at AXT, Inc., 4281 Technology Drive, Fremont, CA 94538, attention: Corporate Secretary. We will disclose any amendment to the Code of Business Conduct and Ethics, or waiver of any of its provisions, applicable to an executive officer or director under the &#8220;Investors&#8221; section on our website at <font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">www.axt.com</font>.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Compensation Committee Interlocks and Insider Participation</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The members of our Compensation Committee during 2013 were David C. Chang, Jesse Chen, Leonard J. LeBlanc and Nai-Yu Pai.&#160; None of the members of the Compensation Committee is or has been an officer or employee of AXT. During fiscal 2013, no member of the Compensation Committee had any relationship with us requiring disclosure under Item 404 of Regulation S-K. During fiscal 2013, none of our executive officers served on the compensation committee (or its equivalent) or on a board of directors of another entity any of whose executive officers served on our Compensation Committee or our Board.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Corporate Governance Guidelines</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">We have adopted Corporate Governance Guidelines that address the composition of the Board, criteria for Board membership and other Board governance matters. These guidelines are available under the &#8220;Investors&#8221; section on our website at <font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">www.axt.com</font>.<font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</font>A printed copy of the guidelines may be obtained by any stockholder upon request made in writing to us at AXT, Inc., 4281 Technology Drive, Fremont, CA 94538, attention: Corporate Secretary.</div>

<div><br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">10</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">PROPOSAL NO. 2</div>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ADVISORY VOTE ON EXECUTIVE COMPENSATION</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the &#8220;Dodd-Frank Act&#8221;), our stockholders are entitled to cast an advisory vote to approve the compensation of our Named Executive Officers (NEOs) as disclosed in this proxy statement. <font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">This proposal, commonly known as a "say-on-pay" proposal, gives our stockholders the opportunity to express their views on the design and effectiveness of our executive compensation programs.</font></div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">As described in detail under the heading "Compensation Discussion and Analysis," our executive compensation programs are intended </font>to assure that our compensation and benefits policies attract, motivate and retain the key employees necessary to support our operations and our strategic growth. We urge our stockholders to read the Compensation Discussion and Analysis of this proxy statement, as well as the Summary Compensation Table and the related tables and disclosures, for a more complete understanding of how the Company&#8217;s executive compensation policies and procedures operate. We believe that our executive compensation program was appropriate and aligned with the Company&#8217;s performance.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">We are asking our stockholders to indicate their support for our NEO compensation as described in this Proxy Statement by voting &#8220;FOR&#8221; the following resolution:</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8220;RESOLVED, that the compensation paid to the Company&#8217;s named executive officers, as disclosed in the Company&#8217;s proxy statement for the 2014 Annual Meeting of Stockholders pursuant to Item 402 of Regulation S-K, including the Compensation Discussion and Analysis, compensation tables and narrative discussion, is hereby APPROVED.&#8221;</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Even though this say-on-pay vote is advisory and therefore will not be binding on the Company, our Compensation Committee and our Board value the opinions of our stockholders.&#160; Accordingly, to the extent there is a significant vote against the compensation of our named executive officers, we will consider our stockholders&#8217; concerns and our Compensation Committee will evaluate what actions may be necessary or appropriate to address those concerns. We hold such advisory votes on executive compensation each year and will hold another advisory vote at our 2015 annual meeting of stockholders.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The Board of Directors recommends a vote &#8220;FOR&#8221; the approval, on an advisory basis, the compensation of our named executive officers as disclosed in this proxy statement.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">11</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;<a name="Administration_140331"><!--Anchor--></a><a name="OtherStockbasedAwards_140403"><!--Anchor--></a>PROPOSAL NO. 3</div>

<div><br>
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Audit Committee of the Board has selected Burr Pilger Mayer, Inc. as our independent registered public accounting firm to audit our consolidated financial statements for the fiscal year ending December 31, 2014. Burr Pilger Mayer, Inc. has acted in such capacity since its appointment in fiscal year 2004. A representative of Burr Pilger Mayer, Inc. is expected to be present at the annual meeting, with the opportunity to make a statement if the representative desires to do so, and is expected to be available to respond to appropriate questions.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The following table sets forth the aggregate fees billed to us for the fiscal years ended December 31, 2013 and 2012 by Burr Pilger Mayer, Inc.:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 80%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 56%; VERTICAL-ALIGN: bottom" valign="bottom">
<div>&#160;</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fiscal 2013</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fiscal 2012</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 56%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Audit Fees (1)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">668,904</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">680,905</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 56%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Audit-Related Fees</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2,325</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 56%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Tax Fees</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 56%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">All Other Fees (2)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Audit fees represent fees for professional services provided in connection with the audit of our annual consolidated financial statements, review of our quarterly condensed consolidated financial statements and services that are normally provided by Burr Pilger Mayer, Inc. in connection with statutory and regulatory filings or engagements.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">All other fees represent fees for professional services provided in connection with the review of a registration statement on Form S-8 filed with the Securities and Exchange Commission on May 23, 2013.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Review of Auditor Independence</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Audit Committee has determined that none of the services rendered by Burr Pilger Mayer, Inc. is incompatible with maintaining Burr Pilger Mayer, Inc.&#8217;s independence as our independent registered public accounting firm.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Pre-approval of Audit Fees</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Audit Committee pre-approves all audit and permissible non-audit services provided by the independent registered public accounting firm. These services may include audit services, audit&#8209;related services, tax services and other services. Pre-approval is generally provided for up to one year, and any pre-approval is detailed as to the particular service or category of services and is generally subject to a specific budget. The Audit Committee meets at least quarterly with our management and representatives of our independent registered public accounting firm to, among other things, review the results of the annual audit and quarterly reviews and discuss the financial statements, review the adequacy of accounting and financial controls, review our critical accounting policies, and review and approve any related party transactions. The Audit Committee meets separately, at least once each quarter, with the independent registered public accounting firm and with the Chief Executive Officer. We maintain procedures for the receipt, retention, and handling of complaints, including complaints made anonymously, which the Audit Committee oversees.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">12</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vote Required and Board of Directors Recommendation</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Although ratification by stockholders is not required by law, the Board has determined that it is desirable to request approval of this selection by the stockholders. Notwithstanding its selection, the Board, in its discretion, may appoint a new independent registered public accounting firm at any time during the year if the Board believes that such a change would be in our best interests and those of our stockholders. If the stockholders do not ratify the appointment of Burr Pilger Mayer, Inc. the Board may reconsider its selection.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The affirmative vote of a majority of the votes cast at the Annual Meeting of Stockholders, at which a quorum representing at least a majority of all outstanding shares of our common stock is present and voting, either in person or by proxy, will be required to ratify the appointment of Burr Pilger Mayer, Inc. as our independent registered public accounting firm.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">The Board of Directors recommends a vote &#8220;FOR&#8221; the ratification of the appointment of Burr Pilger Mayer, Inc. as our independent registered public accounting firm for the fiscal year ending December 31, 2014.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">13</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;AUDIT COMMITTEE REPORT</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The information contained in this report shall not be deemed to be &#8220;soliciting material&#8221; or &#8220;filed&#8221; with the SEC or subject to the liabilities of Section 18 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), except to the extent that AXT specifically incorporates it by reference into a document filed under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;) or the Exchange Act.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Audit Committee oversees our financial reporting process on behalf of the Board. Management has the primary responsibility for the financial statements and the reporting process, including internal control systems. Our independent registered public accounting firm, Burr Pilger Mayer, Inc. is responsible for expressing an opinion as to the conformity of our audited financial statements with generally accepted accounting principles. The Audit Committee has met with Burr Pilger Mayer, Inc., with and without management present, to discuss the overall scope of Burr Pilger Mayer, Inc.&#8217;s audit, the results of its examinations and the overall quality of our financial reporting.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Audit Committee consists of four directors each of whom, in the judgment of the Board, is an &#8220;independent director&#8221; as defined in the listing standards for The Nasdaq Stock Market. The Audit Committee acts pursuant to a written charter that has been adopted by the Board of Directors. A copy of this charter is posted under the &#8220;Investors&#8221; section on our website at<font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"> www.axt.com.</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">We have an internal audit function that reports directly to the Audit Committee. The Audit Committee reviews and approves the internal audit plan once a year and receives periodic updates of internal audit activity in meetings held at least quarterly throughout the year. Updates include discussion of audit project results, quarterly assessment of internal controls and risks of fraud.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Audit Committee has discussed and reviewed the audited financial statements with management, and has discussed and reviewed with our independent registered public accounting firm all matters required to be discussed by the statement&#160; on Auditing Standards No. 61, as amended, as adopted by the Public Company Accounting Oversight Board in Rule 3200T.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Audit Committee has received from Burr Pilger Mayer, Inc. the written disclosures and letter required by applicable requirements of the Public Company Accounting Oversight Board regarding the independent public accounting firm&#8217;s communications with the Audit Committee concerning independence, discussed with the independent registered public accounting firm any relationships that may impact their objectivity and independence, and satisfied itself as to the independent registered public accounting firm&#8217;s independence.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Based on the review and discussions referred to above, the Audit Committee recommended to the Board of Directors that our audited financial statements be included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2013.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 50.2%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 49.8%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">AUDIT COMMITTEE</div>
</td>
</tr>

<tr>
<td style="WIDTH: 50.2%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 49.8%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 50.2%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 49.8%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Leonard J. LeBlanc, Chair</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">David C. Chang</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Jesse Chen</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Nai-Yu Pai</div>
</td>
</tr>
</table>

<div><br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">14</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">EXECUTIVE OFFICERS</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The following sets forth information regarding our non-director executive officers.&#160; Information regarding Dr. Morris Young, our Chief Executive Officer, is set forth under Proposal No. 1 Election of Directors.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Davis Zhang</font> co-founded AXT in 1986. He was appointed as our President of China Operations on October 26, 2009.&#160; He was our president, joint venture operations, and had served as senior vice president, production from January 1994 until August 1999, as president of the substrate division from August 1999 to 2003 and as senior vice president of production from 2003 to October 2009. From 1987 to 1993, Mr. Zhang served as our senior production manager. Mr. Zhang studied mechanical engineering at Communication University, Beijing, China.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Robert G. Ochrym</font> was appointed as our Vice President, Business Development, Strategic Sales and Marketing on October 26, 2009. Mr. Ochrym joined AXT as Vice President, Business Development in June 2005. From 2003 to May 2005, Mr. Ochrym was national sales manager at Aixtron, Inc., where he was responsible for North American sales and marketing functions. From 1973 to 2003, Mr. Ochrym held various positions in sales and marketing, business development and product management at Uniroyal Optoelectronics, Northrop Grumman and Rhone&#8209;Poulenc, and had extensive involvement with rare earths and gallium businesses. Mr. Ochrym has a B.A. degree in Biology from Le Moyne College in Syracuse, New York.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">15</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">EXECUTIVE COMPENSATION AND RELATED INFORMATION</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Compensation Discussion and Analysis</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Overview of Compensation Programs and Philosophy</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Our philosophy is to provide a total compensation package that is competitive with the prevailing practices for our industry and markets. We believe that there should be a strong link between pay and performance, both at the Company level and the individual level. Although we believe that exceptional individual performance should be rewarded, we believe that such rewards should not be made unless there has been strong Company performance as well as strong individual performance.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Our compensation programs are intended to assure that our compensation and benefits policies attract, motivate and retain the key employees necessary to support our operations and our strategic growth. To meet these objectives, we have adopted the following overriding policies:</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Pay total compensation that is competitive with the practices of other companies of similar size and in similar industries;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Use total cash compensation (salary plus annual cash bonus, payable quarterly) to recognize appropriately each individual officer&#8217;s scope of responsibility, role in the organization, experience and contributions;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Reward performance by:</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 54pt">
<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>
</td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">providing short-term bonus compensation by establishing a bonus plan to reward achievement at specified levels of financial and individual performance, with a significant portion of each executive&#8217;s goals related to key financial measures, including company&#8209;specific measures comprising achievement of targeted revenue, gross profit and operating expense levels, all being line items upon which executive officer performance can have a significant impact and that can show beneficial financial performance improvement and therefore value to stockholders, and a significant portion being goals specific to each individual executive officer that represent an improvement over such officer&#8217;s performance in the prior fiscal year; and</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 54pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">providing long-term incentives in the form of stock options and restricted stock awards, in order to retain those individuals with the leadership abilities necessary for increasing long-term stockholder value while aligning the interests of our officers with those of our stockholders.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">On May 14, 2013, we held a stockholder advisory vote on the compensation of our named executive officers, commonly referred to as a say-on-pay vote.&#160; Our stockholders approved the compensation of our named executive officers, with over 94.21% of the votes cast in favor of our say-on-pay resolution.&#160; As we evaluated our compensation practices throughout fiscal 2013, we were mindful of the strong support our stockholders expressed for our philosophy of linking compensation to performance.&#160; As a result, our Compensation Committee decided to retain our general approach to executive compensation.&#160; Moreover, in determining how often to hold a stockholder advisory vote on executive compensation, our Board took into account our stockholders&#8217; preference for an annual vote at our 2011 annual meeting of stockholders.&#160; Specifically, the Board determined that we will hold an annual advisory stockholder vote on our named executive officer compensation until our next say-on-pay frequency vote.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">16</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Components of Our Compensation Program</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">There are five major elements that comprise our executive officer compensation programs: (i) base salary; (ii) annual cash bonus, payable quarterly; (iii) long-term incentives, such as stock options and restricted stock awards; (iv) retirement benefits provided under a 401(k) plan; and (v)&#160; perquisites and benefit programs that are generally available to all of our employees. In addition, we provide certain benefits to U.S. employees who spend a significant amount of their time in our Beijing facilities. We have selected these elements because each is considered useful and/or necessary to meet one or more of the principal objectives of our compensation policy. For instance, base salary and bonus target percentages are set with the goal of attracting and retaining employees, adequately compensating them on a day-to-day basis for the time spent and the services they perform, and rewarding them for achievement at specified levels of financial and individual performance. Our stock option grants and restricted stock awards are intended to provide an incentive and reward for the achievement of long-term business objectives, including achievement of our financial goals, our growth, and retaining key employees. We believe that these elements of compensation, when combined, are effective, and will continue to be effective, in achieving the objectives of our compensation programs.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">These policies were established by our Compensation Committee (the &#8220;Committee&#8221;) in setting executive officer compensation, including the assessment of the appropriate allocation between current cash compensation, short-term bonus compensation, and long-term compensation. Other considerations include our business objectives, competitive practices and trends, and regulatory requirements.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Oversight of Executive Compensation and Role of Management</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Our executive compensation program is overseen and administered by the Committee, which is comprised entirely of independent directors as determined in accordance with various Nasdaq, Securities and Exchange Commission and Internal Revenue Code rules. The Committee operates under a written charter adopted by our Board. A copy of the charter is available under the &#8220;Investors&#8221; section on our website at <font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">www.axt.com</font>.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">During fiscal 2013, the Committee met regularly with our Chief Executive Officer, Dr. Young, to obtain recommendations with respect to Company compensation programs, practices and packages for executives, other employees and directors. Dr. Young made recommendations to the Committee on the base salary, bonus targets and equity compensation for the executive team and other employees for fiscal 2013 compensation. The Committee considers, but is not bound by and does not always accept, Dr. Young&#8217;s recommendations with respect to executive compensation. For fiscal 2013, the Committee determined that Dr. Young was well placed to know what would motivate his team financially, both in terms of long-term and short-term compensation.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Dr. Young attended most of the Committee&#8217;s meetings, but the Committee also regularly held executive sessions not attended by any members of management or non-independent directors. The Committee discussed Dr. Young&#8217;s compensation package with him, but made decisions with respect to Dr. Young&#8217;s compensation without him present. The Committee has not delegated any of its authority with respect to the compensation of executive officers.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Committee reviews the compensation programs applicable to executive officers on an annual basis, other than deferred compensation and retirement benefits, which are reviewed from time to time to ensure that benefit levels remain competitive but are not included in the annual determination of an executive&#8217;s compensation package. In setting compensation levels for a particular executive, the Committee takes into consideration the proposed compensation package as a whole and each element individually, as well as the executive&#8217;s past and expected future contributions to our business.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">17</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Reliance on Compensation Consultants</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Committee has the authority to engage its own independent advisors to assist in carrying out its responsibility, but did not do so during 2013.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Compensation Benchmarking</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">In October 2011, in order to determine each officer&#8217;s target total annual cash compensation (salary and bonuses) for fiscal 2012, the Committee reviewed compensation information from a group of 14 companies identified by Compensia, an independent compensation consulting firm, with input from our management, and included companies with a similar market capitalization to ours, similar annual revenues, and who come from high-technology industries in which we compete for executive officer employees. The peer group consisted of the following companies:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Advanced Analogic Technologies, Inc.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Alliance Fiber Optic Products, Inc.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Emcore</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">GSI Technology</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Integrated Silicon Solution, Inc.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Kopin Corp.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Mindspeeds Technologies</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Nanometrics Incorporated</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Oclaro</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Oplink Communications, Inc.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Pericom Semiconductor</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">QuickLogic Corp.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Sycamore Networks</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">Zhone Technologies</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Data on the compensation practices of the above&#8209;mentioned peer group was gathered by Compensia in 2011 through searches of publicly available information, including publicly available databases. The Committee relied upon Compensia to benchmark target cash compensation levels against the above peer group. Peer group data was gathered by Compensia with respect to base salary, actual total cash compensation, target total cash compensation, annual and long term incentives, actual total direct compensation and target total direct compensation. It does not include deferred compensation benefits or generally available benefits, such as 401(k) plans or health care coverage. In setting executive officer compensation for fiscal 2014, the Committee in 2013 reviewed similar information from a peer group comprising of 12 of the companies listed above (Advanced Analogic Technologies Inc. and Oclaro were removed from the peer group because they were no longer deemed to be appropriate comparables).</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Base Salary</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">To establish executive compensation for fiscal 2013, in October 2012 the Committee reviewed the report of Compensia described above, as well as the recommendations of Dr. Young and the achievement of operating budgets for fiscal 2012, and the goals set in the fiscal 2013 operating plan.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Compensia analyzed compensation payable to our executive officers compared to the peer group, and reported on our existing executive officer compensation arrangements by officer, including base salary, target bonus, total target cash compensation, vested and unvested stock options, equity ownership and percentage ownership. Compensia reviewed the cash compensation levels and performance relative to competitive practices.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Based on the information provided by Compensia, the Committee found that on average, our target total direct compensation approximates the 50th percentile of our market peers, with significant variation by executive.&#160; The Committee&#8217;s goal was to target base pay for each executive officer at the 50th percentile among the peer group.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">18</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">For fiscal 2013, the Committee considered other factors such as the Company&#8217;s financial situation, job performance, skill set, prior experience, the executive&#8217;s time in his position and/or with us, internal consistency regarding pay levels for similar positions or skill levels within the Company, external pressures to attract and retain key executives, and market conditions generally. The Committee also considered our commitment to controlling fixed costs in order to maintain profitability.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">In setting Dr. Young&#8217;s salary, target bonus and stock option grant, the Committee relied on market&#8209;competitive pay data and the strong belief that the Chief Executive Officer significantly and directly influences our overall performance. The Committee also took into consideration the overall compensation policies discussed above.&#160; The fiscal 2013 base salaries for our Named Executive Officers were as follows:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 80%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 68%; VERTICAL-ALIGN: top" valign="bottom">
<div>&#160;</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fiscal 2013 <font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Base Salary</font></div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 68%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Morris S. Young, Chief Executive Officer</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">375,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 68%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Davis Zhang, President China Operations</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">300,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 68%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Robert G. Ochrym, Vice President Business Development, Strategic Sales and Marketing</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">241,500</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">For Fiscal 2014, the Committee determined the base salaries of each of the named executive officers will be decreased by 15%.This salary decrease was implemented beginning March 3, 2014. The Committee expects to decide at the end of Fiscal 2014, based on the achievement of individual performance goals, whether to pay any discretionary bonuses to the named executive officers to compensate for the reduced salaries.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Key Executive Bonus Plan</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">We maintain an annual incentive bonus program for key executive officers to encourage and award achievement of our business goals and to assist us in attracting and retaining executives by offering an opportunity to earn a competitive level of compensation (the &#8220;Bonus Plan&#8221;). Based on these and the objectives described above, the form of the Bonus Plan was initially approved by the Committee for fiscal 2006.&#160; Thereafter, the Committee has extended operation of the Bonus Plan for fiscal years 2007 to 2014, with revised metrics to reflect the revisions in the operating plans for each fiscal year.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">In adopting the Bonus Plan, the Committee confirmed that its philosophy was to use total cash compensation (salary plus annual cash bonus) to recognize appropriately each individual officer&#8217;s scope of responsibility, role in the organization, experience and contributions. Although the Committee did not commission a third&#8209;party survey when first implementing the Bonus Plan in fiscal 2006, Compensia reviewed the terms of the Bonus Plan and considered the target and actual payments under the Bonus Plan in its evaluation of our executive officer compensation. The Committee did not commission third&#8209;party surveys when implementing the Bonus Plans for 2007 to 2014, but reviewed compensation information from peer groups identified by Compensia.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Cash bonuses are paid quarterly under the Bonus Plan in order to motivate the achievement of our business goals, and are based in part upon achievement of Company financial measures and in part upon individual performance metrics established for each executive officer, including both financial and operating metrics. The Committee designed the Bonus Plan to reward achievement at specified levels of financial and individual performance, with a significant portion of each executive&#8217;s goals related to key financial measures.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">19</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">For fiscal 2013, the shared financial goals applicable to all executive officers under the Bonus Plan included achievement of predetermined revenues, gross profit, operating expense levels, and net income, with 70% of the total target bonus based upon achievement of these shared financial goals.&#160; Achievement of target revenue represented 10%, achievement of target gross profit represented 10%, achievement of target operating expenses represented 10%, and achievement of net income represented 40% of the total corporate objectives. The target Company metrics represent a stretch from the operating plan before bonuses can be earned. We use revenue, gross profit, operating expense levels, and net income because these four operational metrics focus the executive officer team on overall business growth and profitability, provide direct &#8220;line-of-sight&#8221; between decisions and outcomes and are key factors that influence our financial results, and thus stockholder value. We exclude certain estimated share&#8209;based compensation expense from the calculation. We believe that this pro forma metric, rather than GAAP-based metrics, enable evaluation of operating results on a consistent and comparable basis. The maximum bonus payable to any executive officer under the 2013 Bonus Plan was 120% of the target bonus established for such executive officer.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The remaining 30% of the target bonus was based upon achievement of individual goals <font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">and achievement of specific tasks applicable to the individual executive officer, varied by executive officer, and measured subjectively by our Chief Executive Officer for each quarter, and the achievement of individual goals and achievement of specific tasks applicable to the Chief Executive Officer for each quarter, measured subjectively by the Committee, were approved by the Committee.</font></div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Committee does not have discretion to increase bonuses under the Bonus Plan, but retains the discretion to decrease bonuses paid even if the performance goals are achieved, although the Committee has not in the past utilized such discretion. Bonuses are payable in cash; we do not maintain any program that allows an executive to defer any portion of his salary or bonus, and we do not maintain a deferred compensation plan.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The performance goals and their respective weightings were altered from fiscal years prior to 2006 in order to better align bonus compensation and goals for our executives with the achievement of Company performance, to more adequately base such performance on achievement of Company financial success, to streamline administration of the plan, and to better reflect the executives&#8217; roles. For instance, the Committee determined that the shared financial goals of achievement of revenues, gross profit and operating expense levels were all line items upon which executive performance can have a significant impact and that can show beneficial financial performance improvement and therefore value to stockholders. The Committee discussed whether established measures should result in partial bonus payments to executives even if financial performance was not improved from the prior year, and determined to establish a plan that would not reward performance on one of the established metrics if performance of such metric did not represent an improvement from the prior year&#8217;s performance.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">In December 2012, the Committee set the bonus formula and performance goals that were used to determine bonuses, if any, under the Bonus Plan for fiscal 2013. The fiscal 2013 target bonuses were as follows:</div>

<div>&#160;</div>

<table style="WIDTH: 80%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 56%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Named Executive Officer</u></div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Percentage of Salary of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fiscal 2013 Target Bonus</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 56%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Morris S. Young</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">281,250</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">75.0</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 56%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Davis Zhang</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">150,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">50.0</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 56%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Robert G. Ochrym</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">108,675</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">45.0</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">In fiscal 2013, we, on average, did not exceed performance targets specified for fiscal 2013 for revenue, and gross profit, but maintained operating expense levels, and our named executive officers did not meet all individual metrics. Executive officers achieved approximately 2.3% of the maximum total target bonus amounts, based on Company and individual performance in fiscal 2013. The Committee evaluated achievement of individual targets for the executive officers and assigned appropriate multipliers based on such achievement quarterly.<font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</font>Bonuses were paid quarterly, with the final bonus payment made following the end of fiscal 2013 in March of 2014.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">20</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Actual bonuses paid to our named executive officers under the Bonus Plan for fiscal 2013 were:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 80%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 56%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Named Executive Officer</u></div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Amount</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Percentage of Salary</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Earned in Fiscal 2013</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 56%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Morris S. Young</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">6,435</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1.7</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 56%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Davis Zhang</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3,432</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1.1</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 56%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Robert G. Ochrym</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2,471</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1.0</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 56%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Former Officer:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 56%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Raymond A. Low</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2,548</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1.2</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Determination of Target Bonus Amounts for Fiscal 2014</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font><font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">For fiscal 2014, the Corporate Targets were weighted 9% for each of the total revenue target, gross </font><font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">profit target and operating expense target, 10% for the cash flow bonus and 36% for the net income target, for a total of 73% of </font><font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">the total, </font><font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">and achievement of the </font><font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Individual Targets would represent 27% of the total bonus.</font><font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</font>In December 2013, the Committee set the target bonus for the Named Executive Officers as follows:</div>

<div><br>
</div>

<table style="WIDTH: 80%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 68%; VERTICAL-ALIGN: top" valign="bottom">
<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Named Executive Officer</u></div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Percentage of Salary of Fiscal 2014 Target <font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Bonus</font></div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 68%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Morris S. Young</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">75</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 68%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Davis Zhang</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">50</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 68%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Robert G. Ochrym</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">45</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>
</table>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Other Bonuses</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">From time to time, the Chief Executive Officer may award management bonuses to certain of our named executive officers outside of the Key Executive Bonus Plan, specifically for sales related management performance. There is no such plan setting up for Fiscal 2014.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Long-Term Incentive Compensation</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Historically we have provided long-term incentive compensation through grants of stock options and restricted stock awards that generally vest over multiple years. Our equity compensation program is intended to align the interests of our officers with those of our stockholders by creating an incentive for our officers to maximize stockholder value. The equity compensation program also is designed to encourage our officers to remain employed with us despite a very competitive labor market. The Committee believes that appropriate equity incentives are critical to attracting and retaining the best employees in the industry, and that stock awards can be an effective tool for meeting our compensation goal of increasing long-term stockholder value by tying the value of the stock awards to our performance in the future.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The number of stock awards the Committee grants to each executive officer and the vesting schedule for each grant is determined based on a variety of factors, including the Committee&#8217;s goal to increase the proportion of compensation awarded to executive officers as long-term incentive compensation. We determined that the value of our equity awards has historically been below the 25<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> percentile of the peer group mentioned above, based on the information provided by Compensia, and so have increased the size of equity awards relative to the increases made in cash compensation.</div>

<div>&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">21</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">In its evaluation of fiscal 2013 equity grants, the Committee noted that on average our executive officers continue to have low annual equity values compared to our peer group. Accordingly, the Committee proposed increased grants based on target ownership levels suggested by Compensia. In light of market changes and the importance of employee retention, the Committee considered other types of awards, including restricted stock and performance shares, as a viable means of attracting and retaining key executives.&#160; In 2013, restricted stock awards were also awarded to the executive officers as an additional component of long-term incentive compensation in line with the ownership levels suggested by Compensia.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Committee grants equity awards to executive officers only at its regularly scheduled quarterly meetings.&#160; All grants of stock options and restricted stock awards or other equity awards to newly&#8209;hired employees are also made by the Committee at scheduled meetings, unless the Board or the Committee determines that unusual circumstances, such as in the case of retention of an executive officer or directors, call for consideration of the grant of awards other than at a regular quarterly meeting, in which case consideration of and action with respect to such awards shall take place at a special meeting and not by unanimous written consent. The Committee has not granted, nor does it intend in the future to grant, equity compensation awards to executives in anticipation of the release of material nonpublic information that is likely to result in changes to the price of our common stock, such as a significant positive or negative earnings announcement. Similarly, the Committee has not timed, nor does it intend in the future to time, the release of material nonpublic information based on equity award grant dates. Also, because equity compensation awards typically vest over a three&#8209; or four-year period, the value to recipients of any immediate increase in the price of our stock following a grant will be attenuated.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">All equity awards approved during scheduled meetings become effective and are priced as of the second trading day after the earning release for the quarter in which the grants were approved, provided that if public announcement of material information is anticipated, the Grant Date may be deferred at the discretion of the Board or Committee until the second trading day after release of such information. Except as otherwise provided in the stock option plan with respect to grants of incentive stock options (including tandem stock appreciation rights in conjunction with such options) to certain large stockholders, the exercise price of all options and stock appreciation rights granted at regular quarterly meetings shall be the closing price of our common stock on the Grant Date, as reported by the Nasdaq Global Select Market.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Retirement Benefits under the 401(k) Plan, Executive Perquisites and Generally Available Benefit Programs</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">We do not maintain a non-qualified deferred compensation plan, other than our AXT, Inc. Employee Savings and Retirement Plan (the &#8220;401(k) Plan&#8221;). The tax-qualified 401(k) Plan provides for broad&#8209;based employee participation. Under the 401(k) Plan, all of our employees are eligible to receive matching contributions from us that are subject to vesting over time. We also make an annual &#8220;reconciling match&#8221; designed to more evenly determine the amount of matching contributions that eligible employees receive. This reconciling match works by recalculating the regular matching contribution as if it were paid on an annualized, instead of payroll-by-payroll, basis. If the annualized matching contribution would have been higher, we contribute a matching contribution equal to the difference between the two. We do not provide defined benefit pension plans or defined contribution retirement plans to our executives or other employees other than the 401(k) Plan.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">We also offer a number of other benefits to the named executive officers pursuant to benefit programs that provide for broad&#8209;based employee participation. These benefits programs include medical, dental and vision insurance, long-term and short-term disability insurance, life and accidental death and dismemberment insurance, health and dependent care flexible spending accounts, business travel insurance, income protection, wellness programs, relocation/expatriate programs and services, educational assistance, employee assistance and certain other benefits.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Executive officers are eligible to receive health care coverage that is generally available to other employees. In addition, expatriate employees at the level of director and above receive additional time off in addition to the vacation time typically provided to other employees.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">22</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The 401(k) Plan and other generally available benefit programs allow us to remain competitive for key employees, and we believe that the availability of the benefit programs generally enhances employee productivity and loyalty. The main objectives of our benefits programs are to give our employees access to quality healthcare, financial protection from unforeseen events, assistance in achieving retirement financial goals, enhanced health and productivity and to provide support for global workforce mobility, in full compliance with applicable legal requirements. These generally available benefits typically do not specifically factor into decisions regarding an individual executive&#8217;s total compensation or equity award package.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">We evaluate the competitiveness of our 401(k) Plan as related to similar plans of our peer group members by analyzing the dollar value to an employee and the dollar cost to us for the benefits under the applicable plan using a standard population of employees. We analyze changes to our benefits programs in light of the overall objectives of the program, including the effectiveness of the retention and incentive features of such programs and our targeted percentile range.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Stock Ownership Guidelines</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Board has not adopted stock ownership guidelines applicable to our executive officers or directors.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Compensation of the Chief Executive Officer</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">On July 16, 2009, we appointed Dr. Morris Young as our Chief Executive Officer at a salary of $300,000. In setting Dr. Young&#8217;s salary, target bonus and stock option grant, the Committee relied on market-competitive pay data and the strong belief that the Chief Executive Officer significantly and directly influences our overall performance. The Committee set Dr. Young&#8217;s target bonus at 60% of his salary at the time of his appointment in July 2009 and it would be pro- rated for the portion of the year that he was serving as Chief Executive Officer. The Committee also took into consideration the overall compensation policies discussed above. Dr. Young was additionally granted an option to purchase 300,000 shares of common stock on July 16, 2009. All of the stock options granted are subject to time-based vesting over a four year period. In July 2010, the Committee relied on market-competitive pay data and increased the Chief Executive Officer&#8217;s annual salary to $375,000 and set his target bonus at 75% of his salary, both effective August 1, 2010. In addition, Dr. Young was granted an option to purchase 110,000 shares of common stock and 35,000 shares of restricted stock awards on August 2, 2010. In 2011 Dr. Young was granted an option to purchase 90,000 shares of common stock and 30,000 shares of restricted stock awards on October 28, 2011. In 2012 Dr. Young was granted an option to purchase 108,000 shares of common stock on and 36,000 shares of restricted stock awards on November 5, 2012. In 2013 Dr. Young was granted an option to purchase 90,000 shares of common stock on and 30,000 shares of restricted stock awards on November 4, 2013.All of the stock options and restricted stock awards granted are subject to time-based vesting over a four year period. For fiscal 2013, for the compensation of the chief executive officer, the Committee relied upon Compensia to benchmark target cash compensation levels against the abovementioned peer group. Peer group data was gathered by Compensia with respect to base salary, actual total cash compensation, target total cash compensation, annual and long term incentives, actual total direct compensation and target total direct compensation. The Committee has determined that Dr. Young&#8217;s compensation and bonus targets in 2014 will remain substantially the same as in 2013.<br>
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Accounting and Tax Considerations</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">In designing our compensation programs, we take into consideration the accounting and tax effect that each element will or may have on us and the executive officers and other employees as a group. When determining how to apportion between differing elements of compensation, the goal is to meet our objectives while maintaining cost neutrality. For instance, if we increase benefits under one program resulting in higher compensation expense, we may seek to decrease costs under another program in order to avoid a compensation expense that is above the affordability level.</div>

<div>&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">23</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">In addition, we have not provided any executive officer or director with a gross-up or other reimbursement for tax amounts the executive might pay pursuant to Section 280G or Section 409A of the Internal Revenue Code. Section 280G and related Internal Revenue Code sections provide that executive officers, directors who hold significant stockholder interests and certain other service providers could be subject to significant additional taxes if they receive payments or benefits in connection with a change in our control that exceeds certain limits, and that we or our successor could lose a deduction on the amounts subject to the additional tax. Section 409A also imposes additional significant taxes in the event that an executive officer, director or service provider receives &#8220;deferred compensation&#8221; that does not meet the requirements of Section 409A. We structure our equity awards in a manner intended to comply with the applicable Section 409A requirements.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">In determining which elements of compensation are to be paid, and how they are weighted, we also take into account whether a particular form of compensation will be considered &#8220;performance&#8209;based&#8221; compensation for purposes of Section 162(m) of the Internal Revenue Code. Under Section 162(m), we generally receive a federal income tax deduction for compensation paid to any of our named executive officers only if the compensation is less than $1 million during any fiscal year or is &#8220;performance&#8209;based&#8221; under Section 162(m). Our Committee currently intends to continue seeking a tax deduction for all of our executive compensation, to the extent we determine it is in our best interests. All of the stock options granted to our executive officers qualify under Section 162(m) as performance&#8209;based compensation.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Compensation Committee Report</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The information contained in this report shall not be deemed to be &#8220;soliciting material&#8221; or &#8220;filed&#8221; with the SEC or subject to the liabilities of Section 18 of the Exchange Act, except to the extent that AXT specifically incorporates it by reference into a document filed under the Securities Act or the Exchange Act.</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">We, the Compensation Committee of the Board of Directors of AXT, Inc., have reviewed and discussed the Compensation Discussion and Analysis contained in this proxy statement with management. Based on such review and discussion, we have recommended to the Board of Directors that the Compensation Discussion and Analysis be included in this Proxy Statement and in our Annual Report on Form 10-K for the fiscal year ended December 31, 2013.</div>

<div><br>
</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 51.06%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 48.94%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">THE COMPENSATION COMMITTEE</div>
</td>
</tr>

<tr>
<td style="WIDTH: 51.06%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 48.94%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 51.06%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 48.94%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">David C. Chang, Chair</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Leonard J. LeBlanc</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Jesse Chen</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Nai-Yu Pai</div>
</td>
</tr>
</table>

<div><br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">24</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Summary Compensation Table</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The following table sets forth information concerning the compensation earned during the fiscal years ended December 31, 2013, 2012, and 2011, by our current Chief Executive Officer, our former Chief Financial Officer, and each of&#160; our other executive officers (together, the &#8220;named executive officers&#8221;):</div>

<div><br>
</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 2px; WIDTH: 21%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Name and Principal Position</div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom"></td>
<td style="BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 2px; WIDTH: 5.76%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Year</div>
</td>
<td style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px; WIDTH: 0.72%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Salary</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">($)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 0.72%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px; WIDTH: 0.72%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div></div>

<div></div>

<div></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Bonus</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">($)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 2%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 0.72%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Stock</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Awards</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">($)(1)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 0.72%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 0.72%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Option</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Awards</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">($)(1)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 0.72%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 0.72%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Non-Equity</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Incentive</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Plan</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Compensation</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">($)(2)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 0.72%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: center; PADDING-BOTTOM: 2px; WIDTH: 0.72%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">All Other</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Compensation</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">($)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 2%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 0.72%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">($)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">
<div>&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom">
<div></div>

&#160;</td>
<td style="WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="6">
<div></div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right"></div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Morris S. Young</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2013</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">375,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">70,800</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">96,543</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">6,435</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">30,134</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">(3)</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">578,912</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 11px">
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">Chief Executive Officer, interim </td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2012</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">375,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">104,760</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">168,998</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">157,388</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">32,075</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">(4)</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">838,221</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">Chief Financial Officer and </td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2011</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">375,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">143,700</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">238,770</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">206,814</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">30,375</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">(5)</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">994,659</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Corporate Secretary</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Davis Zhang</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2013</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">300,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">51,920</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">70,798</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3,432</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">22,411</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">(6)</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">448,561</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">President, China Operations</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2012</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">323,077</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">81,480</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">131,443</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">83,017</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">27,534</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">(7)</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">646,551</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 21%; VERTICAL-ALIGN: top" valign="bottom" colspan="3">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;2011</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">310,769</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">50,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">(8)</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">164,958</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">191,016</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">113,332</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">24,310</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">(9)</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">854,385</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Robert G. Ochrym</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2013</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">241,500</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">18,880</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">25,745</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2,471</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">13,082</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">(10)</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">301,678</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">Vice President, Business </td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2012</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">241,500</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">32,010</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">51,638</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">54,150</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">13,082</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">(11)</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">392,380</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Development, Strategic Sales and Marketing</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2011</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">241,279</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">47,900</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">79,590</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">76,333</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">13,073</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">(12)</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">458,175</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap"></td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Former Officer:</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Raymond A. Low</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2013</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">218,108</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2,548</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10,123</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">(13)</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">230,779</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Chief Financial Officer and</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2012</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">247,500</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">$</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">&#8212;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">23,280</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">37,555</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">54,514</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">12,836</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">(14)</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">375,685</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 21%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Corporate Secretary</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom"></td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 5.76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2011</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;256,875</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">33,530</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 6.71%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">55,713</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">76,382</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">12,830</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">(15)</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 0.72%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 7%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">435,330</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<hr style="TEXT-ALIGN: left; WIDTH: 20%; HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Valuation based on the dollar amount recognized for financial statement reporting purposes pursuant to ASC topic 718, <font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Stock Compensation</font> (&#8220;ASC 718&#8221;). Amounts shown do not reflect compensation actually received by the named executive officer. Instead, the amounts shown are the value of option awards and stock awards calculated based on the grant date fair value as determined pursuant to ASC 718.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Amounts consist of bonuses earned for services rendered in fiscal years 2011 to 2013. Performance&#8209;based bonuses are generally paid under our Key Executive Bonus Plan and reported as Non-Equity Incentive Plan Compensation. Includes amounts earned for the fourth quarter of fiscal 2013, but not paid until March 2014.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(3)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes our matching contribution of $15,000 under the tax-qualified 401(k) Plan, travel allowance of $5,985, and our payment on behalf of Dr. Young of $9,149 in term life insurance premiums.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(4)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes our matching contribution of $15,000 under the tax-qualified 401(k) Plan, travel allowance of $7,926, and our payment on behalf of Dr. Young of $9,149 in term life insurance premiums.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(5)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes our matching contribution of $15,000 under the tax-qualified 401(k) Plan, travel allowance of $6,226, and our payment on behalf of Dr. Young of $9,149 in term life insurance premiums.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(6)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes our matching contribution of $12,000 under the tax-qualified 401(k) Plan, travel allowance of $5,100 and our payment on behalf of Mr. Zhang of $5,311 in term life insurance premiums.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(7)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes our matching contribution of $12,000 under the tax-qualified 401(k) Plan, travel allowance of $10,000 and our payment on behalf of Mr. Zhang of $5,534 in term life insurance premiums.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(8)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Special bonus awarded to Mr. Zhang for his extraordinary performance in establishing further joint ventures and his contribution in the successful negotiation of land acquisition in Tianjin, China to build a second manufacturing plant.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(9)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes our matching contribution of $11,969 under the tax-qualified 401(k) Plan, travel allowance of $10,000 and our payment on behalf of Mr. Zhang of $2,341 in term life insurance premiums.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">25</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(10)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes our matching contribution of $9,660 under the tax-qualified 401(k) Plan, and our payment on behalf of Mr. Ochrym of $3,422 in term life insurance premiums.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(11)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes our matching contribution of $9,660 under the tax-qualified 401(k) Plan, and our payment on behalf of Mr. Ochrym of $3,422 in term life insurance premiums.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(12)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes our matching contribution of $9,651 under the tax-qualified 401(k) Plan, and our payment on behalf of Mr. Ochrym of $3,422 in term life insurance premiums.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(13)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes our matching contribution of $8,034 under the tax-qualified 401(k) Plan, and our payment on behalf of Mr. Low of $2,089 in term life insurance premiums.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(14)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes our matching contribution of $9,900 under the tax-qualified 401(k) Plan, and our payment on behalf of Mr. Low of $2,936 in term life insurance premiums.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(15)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes our matching contribution of $9,894 under the tax-qualified 401(k) Plan, and our payment on behalf of Mr. Low of $2,936 in term life insurance premiums.</td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Our executive compensation program is structured so that a portion of our executives&#8217; targeted total compensation is &#8220;at risk&#8221; (in the form of stock option grants and bonus payments under our Bonus Plan) and therefore dependent upon our results. In determining the &#8220;at risk&#8221; proportion between cash and equity among our total mix of compensation, we consider the employee position and responsibilities, ability to impact our results, and the competitive market for executive talent in our industry. We strive to balance the components of our compensation program appropriately in light of these factors.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">26</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Grants of Plan-Based Awards</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The following table sets forth certain information with respect to option awards and other plan-based awards granted during the fiscal year ended December 31, 2013 to our named executive officers:</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">2013 GRANTS OF PLAN-BASED AWARDS</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="12">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Estimated Future Payouts Under</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Non-Equity Incentive Plan Awards (1)</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" rowspan="2" nowrap="nowrap">&#160;&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" rowspan="2">&#160;&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" rowspan="2" colspan="2">
<div></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">All Other</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Stock</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Awards:</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number of Shares of Stock or</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Units (#)</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" rowspan="2" nowrap="nowrap">&#160;&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" rowspan="2">&#160;&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" rowspan="2" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">All Other</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Option</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Awards:</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Securities</div>

<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Underlying</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Options (#)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" rowspan="2" nowrap="nowrap">&#160;&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" rowspan="2">&#160;&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" rowspan="2" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exercise or</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Base Price</div>

<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">of Option</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Awards ($/Sh)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" rowspan="2" nowrap="nowrap">&#160;&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" rowspan="2">&#160;&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" rowspan="2" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Grant Date</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fair Value of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Stock and</div>

<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Option</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Awards ($)(2)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" rowspan="2" nowrap="nowrap">&#160;&#160;</td>
</tr>

<tr style="HEIGHT: 44px">
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Name</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Grant</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Date</div>
</div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Threshold </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">($)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Target </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">($)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Maximum </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">($)</div>
</div>
</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom">
<div>&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">
<div>&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Morris S. Young</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">11/04/13</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">30,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">90,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.36</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">167,343</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 20%; WIDTH: 16%; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;12/13/13</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">0</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">281,250</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">337,500</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 8%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Davis Zhang</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 8%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">11/04/13</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">22,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">66,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.36</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">122,718</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 20%; WIDTH: 16%; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;12/13/13</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">0</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">150,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">180,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 8%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Robert G. Ochrym</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 8%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">11/04/13</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">8,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">24,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.36</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">44,625</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 20%; WIDTH: 16%; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;12/13/13</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">0</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">108,675</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">130,410</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: left">
<hr style="TEXT-ALIGN: left; WIDTH: 20%; HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">We award bonuses pursuant to the Bonus Plan, which provides for the award of annual cash bonuses based upon threshold, target and maximum payout amounts set by the Board at the beginning of each fiscal year. See &#8220;Compensation Discussion and Analysis&#8212;Plan-Based Awards.&#8221; The actual amount paid to each named executive officer for the fiscal year ended December 31, 2013 is set forth in the Summary Compensation Table under the heading, &#8220;Non-Equity Incentive Plan Compensation.&#8221;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">The value of an option or stock award is based on the fair value as of the grant date of such award determined pursuant to ASC topic 718, <font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Stock Compensation</font> (&#8220;ASC 718&#8221;), <font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">excluding the impact of estimated forfeitures related to service-based vesting conditions</font>. The exercise price for all options granted to the named executive officers is 100% of the fair market value of the shares on the grant date. The option exercise price has not been deducted from the amounts indicated above. Regardless of the value placed on a stock option on the grant date, the actual value of the option will depend on the market value of our common stock at such date in the future when the option is exercised. The proceeds to be paid to the individual following this exercise do not include the option exercise price.<font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</font></td>
</tr>
</table>
</div>

<div><br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">27</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Outstanding Equity Awards at Fiscal Year-End</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The following table sets forth certain information with respect to the value of all unexercised options previously awarded to our named executive officers as of December 31, 2013.</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">OUTSTANDING EQUITY AWARDS AS OF DECEMBER 31, 2013</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">
<div>&#160;</div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: top" valign="bottom">
<div>&#160;&#160;</div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="14">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Options Awards</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: top" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Stock Awards</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Name</div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: top" valign="bottom">
<div>
<div>&#160;</div>

<div style="TEXT-ALIGN: center">&#160;</div>

<div style="TEXT-ALIGN: center">&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Grant Date(1)</div>
</div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Securities</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Underlying</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Unexercised</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Options (#)</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exercisable</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Securities</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Underlying</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Unexercised</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Options (#)</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Unexercisable</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Option</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exercise</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Price ($)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Option</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Expiration</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Date</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" colspan="2">
<div>
<div></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number of Shares or Units of Stock That Have Not</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vested(#)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center; VERTICAL-ALIGN: bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Market</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value of Shares or</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Units of Stock That</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Have Not</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vested($)(2)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom">
<div>&#160;</div>
</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">
<div>&#160;</div>
</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Morris S. Young</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">8/13/2004</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">9/2/2005</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">7/16/2009</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">8/2/2010</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">50,000</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">50,000</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">212,896</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">105,090</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4,910</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$<br>
 $</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1.18</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1.33</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1.59</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5.83</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">8/13/2014</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">9/22015</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">7/16/2019</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">8/2/2020</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 5px; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 78px; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 20%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;10/28/2011</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">11/5/2012</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">48,750</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">29,250</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">41,250</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">78,750</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4.79</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.91</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/28/2021</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">11/5/2022</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 5px; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 78px; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 20%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;11/4/2013</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">90,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.36</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">11/4/2023</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 5px; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 78px; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 20%; WIDTH: 28%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;8/2/2010</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">8,750</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9.35%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">22,838</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 14px">
<td style="BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 20%; WIDTH: 28%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;10/28/2011</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">15,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9.35%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">39,150</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 20%; WIDTH: 28%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;11/5/2012</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">27,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9.35%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">70,470</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 20%; WIDTH: 28%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;11/4/2013</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">30,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9.35%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">78,300</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Davis Zhang</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">8/13/2004</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">9/2/2005</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/27/2006</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/22/2007</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/31/2008</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/26/2009</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">50,000</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">50,000</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">15,000</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">14,300</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">21,450</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">200,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1.18</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1.33</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4.81</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">6.31</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1.59</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.04</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">8/13/2014</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">9/2/2015</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/27/2016</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/22/2017</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/31/2018</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/26/2019</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 5px; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 78px; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-LEFT: 20%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;8/2/2010</div>
</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">55,000</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">11,000</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5.83</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">8/2/2020</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 5px; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 78px; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 20%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;10/28/2011</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">39,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">33,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4.79</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/28/2021</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 5px; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 78px; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-LEFT: 20%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;11/5/2012</div>
</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">22,750</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">61,250</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.91</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">11/5/2022</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 5px; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 78px; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 20%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;11/4/2013</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">66,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.36</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">11/4/2023</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 5px; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 78px; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-LEFT: 20%; WIDTH: 28%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;8/2/2010</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5,500</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; WIDTH: 9.35%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">14,355</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; PADDING-LEFT: 20%; WIDTH: 28%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;10/28/2011</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">11/5/2012</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">17,218</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">21,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9.35%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">44,939</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;54,810</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="PADDING-LEFT: 20%; WIDTH: 28%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;11/4/2013</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">22,000</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; WIDTH: 9.35%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">57,420</div>
</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Robert G. Ochrym</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/22/2007</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/31/2008</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/26/2009</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">8/2/2010</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">431</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">6,750</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">28,125</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">27,500</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5,500</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">6.31</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1.59</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.04</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5.83</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/22/2017</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/31/2018</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/26/2019</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">8/2/2020</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 5px; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 78px; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 20%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;10/28/2011</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">11/5/2012</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">16,250</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">8,938</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">13,750</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">24,062</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$<br>
 $</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4.79</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.91</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10/28/2021</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">11/5/2022</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 5px; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 78px; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 20%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;11/4/2013</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">24,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2.36</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">11/4/2023</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 5px; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 78px; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 20%; WIDTH: 28%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;8/2/2010</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2,750</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9.35%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">7,177</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 20%; WIDTH: 28%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;10/28/2011</div>

<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">11/5/2012</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5,000</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">8,250</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9.35%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">13,050</div>

<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">21,533</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; PADDING-LEFT: 20%; WIDTH: 28%; VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: right; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;11/4/2013</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">8,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9.35%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">20,880</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<hr style="TEXT-ALIGN: left; WIDTH: 20%; HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Except as otherwise noted, all options awards granted to named executive officers vest at the rate of <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>/<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">4</sub> of the underlying shares on the first anniversary of the date of grant and <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>/<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">48</sub> of the shares each month thereafter. After four years, the shares become fully vested and exercisable. <font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Restricted stock awards granted to named executive officers vest over a four-year period, at a rate of 25% on the each anniversary of the vesting commencement date.</font></td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">The market value of the restricted stock awards that have not vested is calculated by multiplying the number of units that have not vested by the closing price of our common stock at December 31, 2013, which was $2.61.</td>
</tr>
</table>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">28</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Option Exercises and Stock Vested During Last Fiscal Year</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The following table shows all stock options exercised and value realized upon exercise, and the number of shares acquired on vesting and the value realized on vesting by the named executive officers during the fiscal year ended December 31, 2013:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">OPTION EXERCISES AND STOCK VESTED FOR FISCAL 2013</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom"></td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Option Awards</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap"></td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom"></td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="6">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Stock Awards</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap"></td>
</tr>

<tr>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Name</u></div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Shares</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Acquired on</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exercise (#)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value Realized</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">on Exercise</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">($)(1)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Shares</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Acquired on</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Vesting (#)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value Realized</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">on Vesting</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">($)(2)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Morris S. Young</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">25,250</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">60,718</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Davis Zhang</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">172,900</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">249,042</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">21,110</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">49,975</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Robert G. Ochrym</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">8,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">19,200</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 52%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-STYLE: italic; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Former Officer:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 52%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Raymond A. Low</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">119,367</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">41,425</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2,750</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">6,958</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<hr style="TEXT-ALIGN: left; WIDTH: 20%; HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Based on the difference between the market price of our common stock on the date of exercise and the exercise price.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Reflects the market price of our common stock on the vesting date.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Potential Payments upon Termination or Change in Control</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Acceleration of Stock Options</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Stock option grants were made to employees under our 1997 Stock Option Plan pursuant to a standard form of stock option agreement. The standard form of stock option agreement provided that in the event of a &#8220;change in control,&#8221; as defined therein, and termination of employment or resignation for &#8220;good reason&#8221; as defined therein, within twelve months after the change in control, the vesting and exercisability of the option will accelerate such that the option will become immediately exercisable and vested in full as of the date of termination or resignation. Options granted to all of our employees from 2002 until the adoption of our 2007 Equity Incentive Plan, including options granted to our named executive officers and directors, include these provisions which provide for acceleration in full upon a change of control event in which the employee is terminated or constructively dismissed within 12 months after the change in control. Options granted to our directors accelerate in full upon the change in control event, whether or not there is a termination of their service to the Company. All options so accelerated remain exercisable for the earlier of the term of the option or six months after the effective date of the termination.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The following are the applicable definitions under the 1997 Stock Option Plan:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">A <font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8220;Change in Control&#8221;</font> shall mean an event or a series of related events (collectively, the &#8220;Transaction&#8221;) wherein the stockholders of the Company immediately before the Transaction do not retain immediately after the Transaction, in substantially the same proportions as their ownership of shares of our voting stock immediately before the Transaction, direct or indirect beneficial ownership of more than fifty percent (50%) of the total combined voting power of the outstanding voting stock of the Company or the corporation or corporations to which the assets of the Company were transferred (the &#8220;Transferee Corporation(s)&#8221;), as the case may be. For purposes of the preceding sentence, indirect beneficial ownership shall include, without limitation, an interest resulting from ownership of the voting stock of one or more corporations which, as a result of the Transaction, own the Company or the Transferee Corporation(s), as the case may be, either directly or through one or more subsidiary corporations. The Board shall have the right to determine whether multiple sales or exchanges of the voting stock of the Company or multiple Ownership Change Events are related, and its determination shall be final, binding and conclusive.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">29</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">An <font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8220;Ownership Change Event&#8221;</font> shall be deemed to have occurred if any of the following occurs with respect to the Company:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">the direct or indirect sale or exchange in a single or series of related transactions by the stockholders of the Company of more than fifty percent (50%) of the voting stock of the Company;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">a merger or consolidation in which the Company is a party;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">the sale, exchange, or transfer of all or substantially all of the assets of the Company; or</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">
<div>a liquidation or dissolution of the Company.</div>
</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8220;Termination After Change in Control&#8221;</font> shall mean any of the following events occurring within twelve (12) months after a Change in Control:</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">termination by the Participating Company Group of the Optionee&#8217;s Service with the Participating Company Group for any reason other than for Cause (as defined below); or</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">the Optionee&#8217;s resignation for Good Reason (as defined below) from all capacities in which the Optionee is then rendering Service to the Participating Company Group within a reasonable period of time following the event constituting Good Reason.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Notwithstanding any provision herein to the contrary, Termination After Change in Control shall not include any termination of the Optionee&#8217;s Service with the Participating Company Group which (1) is for Cause (as defined below); (2) is a result of the Optionee&#8217;s death or disability; (3) is a result of the Optionee&#8217;s voluntary termination of Service other than for Good Reason; or (4) occurs prior to the effectiveness of a Change in Control.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8220;Cause&#8221;</font> shall mean any of the following: (i) the Optionee&#8217;s theft, dishonesty, or falsification of any Participating Company documents or records; (ii) the Optionee&#8217;s improper use or disclosure of a Participating Company&#8217;s confidential or proprietary information; (iii) any action by the Optionee which has a detrimental effect on a Participating Company&#8217;s reputation or business; (iv) the Optionee&#8217;s failure or inability to perform any reasonable assigned duties after written notice from a Participating Company of, and a reasonable opportunity to cure, such failure or inability; (v) any material breach by the Optionee of any employment agreement between the Optionee and a Participating Company, which breach is not cured pursuant to the terms of such agreement; or (vi) the Optionee&#8217;s conviction (including any plea of guilty or nolo contendere) of any criminal act which impairs the Optionee&#8217;s ability to perform his or her duties with a Participating Company.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8220;Good Reason&#8221;</font> shall mean any one or more of the following:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">without the Optionee&#8217;s express written consent, the assignment to the Optionee of any duties, or any limitation of the Optionee&#8217;s responsibilities, substantially inconsistent with the Optionee&#8217;s positions, duties, responsibilities and status with the Participating Company Group immediately prior to the date of the Change in Control;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">without the Optionee&#8217;s express written consent, the relocation of the principal place of the Optionee&#8217;s Service to a location that is more than thirty (30) miles from the Optionee&#8217;s principal place of Service immediately prior to the date of the Change in Control, or the imposition of travel requirements substantially more demanding of the Optionee than such travel requirements existing immediately prior to the date of the Change in Control; or</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">30</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">any failure by the Participating Company Group to pay, or any material reduction by the Participating Company Group of, (1) the Optionee&#8217;s base salary in effect immediately prior to the date of the Change in Control by more than 15% (unless reductions comparable in amount and duration are concurrently made for all other employees of the Participating Company Group with responsibilities, organizational level and title comparable to the Optionee&#8217;s), or (2) the Optionee&#8217;s bonus compensation, if any, in effect immediately prior to the date of the Change in Control (subject to applicable performance requirements with respect to the actual amount of bonus compensation earned by the Optionee).</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Stock option grants made to our named executive officers and directors under our 2007 Equity Incentive Plan provide that in the event of a &#8220;Change in Control,&#8221; as defined therein, the vesting and exercisability of the option will accelerate such that the option will become immediately exercisable and vested in full as of the date of termination or resignation.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Under the 2007 Equity Incentive Plan, a &#8220;<font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Change in Control</font>&#8221; is defined as any of the following:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">any person becomes the direct or indirect beneficial owner of more than 50% of the voting power of our stock;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">any one or related series of the following in which the stockholders immediately before the transaction do not retain immediately after the transaction direct or indirect beneficial ownership of more than 50% of our voting securities, our successor or the entity to which our assets were transferred;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">the sale or exchange by the stockholders of more than 50% of our voting stock or a merger to which we are a party; or</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">the sale of all or substantially all of our assets.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">If we had been the subject of a change of control that resulted in the termination of employment or resignation for good reason of any of our executive officers as of December 31, 2013, the last business day of our fiscal 2013, the number of options to purchase our common stock held by each executive officer as indicated below would have accelerated and become immediately exercisable and vested in full as of such date. In addition, based on the difference between the weighted average exercise price of the options and $2.61, the closing price of our common stock on December 31, 2013, the net value of these options would be as set forth below:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 80%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0" align="center">
<tr>
<td style="PADDING-BOTTOM: 2px; WIDTH: 56%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Name</u></div>
</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Options Accelerated</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Value of Accelerated</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Options(1)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 56%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Morris S. Young</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">214,910</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 56%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Davis Zhang</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">171,250</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 56%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Robert G. Ochrym</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">67,312</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<hr style="TEXT-ALIGN: left; WIDTH: 20%; HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Based on a common stock price of $2.61 per share, the closing price of our common stock on the Nasdaq Global Select Market on December 31, 2013, less the applicable exercise price for each option for which vesting is accelerated. The weighted average exercise price for the options accelerated exceeded the closing price of $2.61.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">31</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Zhang Employment Contract</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">On January 10, 2006, we entered into an employment agreement with Mr. Davis Zhang, President, Joint Venture Operations. In the event that Mr. Zhang is terminated without cause, we shall pay Mr. Zhang an amount equal to twenty-four (24) months of his then current salary and reimbursement of health benefits.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Employment may be terminated by us under any one of the following circumstances, any of which shall be deemed, and shall be sufficient to constitute, termination &#8220;for cause&#8221;:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">any act of fraud, misappropriation, theft, dishonesty, or other act of moral turpitude,</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">any breach or neglect of the duties required to perform under the terms of this Agreement,</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">engaging in willful misconduct in the performance of duties, committing insubordination (in the sole, reasonable discretion of your supervisor or our Board of Directors), or otherwise failing to perform duties as directed by your supervisor or our Board of Directors,</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">being guilty of, convicted of, or plead guilty or <font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">nolo contendre</font> to, a felony, crime of moral turpitude or other serious offense.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">If we had terminated Mr. Zhang&#8217;s employment without cause on December 31, 2013, the last business day of our fiscal 2013, Mr. Zhang would have received severance benefits under his employment agreement equal to (a) a payment of $600,000, consisting of two times his annual base salary for fiscal 2013 of $300,000, and (b) reimbursement of twenty-four (24) months of health benefits of $34,056.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Young Employment Contract</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">On December 4, 2012, we entered into an amended and restated employment offer letter with Dr. Morris Young, Chief Executive Officer. In the event that Dr. Young is terminated without cause, we shall pay Dr. Young an amount equal to twelve (12) months of his then current salary and reimbursement of twenty-four (24) months of health benefits.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">In addition, if, after a Change of Control (as defined below), Dr. Young&#8217;s employment is terminated by us without cause or by Dr. Young as a result of a defined constructive termination, and provided that Dr. Young executes a general release of claims in a form acceptable to AXT or the acquiring company, Dr. Young <font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">will receive the following severance benefits:&#160; (a) continuing payment of his last base salary for eighteen (18) months after the date his employment terminates; (b) provided he timely elects to continue his health insurance benefits under the applicable COBRA laws, the Company will reimburse him for the premiums necessary to maintain his health insurance coverage for a period of twenty-four (24) months following termination of his employment; and (c) </font>full vesting acceleration and exercisability of his outstanding equity awards.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Further, notwithstanding any provision to the contrary contained in any plan or agreement evidencing the options held by Dr. Young, in the event of a Change in Control in which the surviving, continuing, successor, or purchasing corporation or other business entity or parent thereof, as the case may be (the <font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8220;</font>Acquiror<font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8221; </font>), does not assume the Company&#8217;s rights and obligations under the then-outstanding portion of options held by Dr. Young or substitute for such portion of such options substantially equivalent options for the Acquiror&#8217;s stock, then the vesting and exercisability of such options shall be accelerated in full effective as of the date ten (10) days prior to but conditioned upon the consummation of the Change in Control, provided that Dr. Young remains an employee or other service provider with the Company immediately prior to the Change in Control.&#160; Except as set forth above, the treatment of stock-based compensation upon the consummation of a Change in Control shall be determined in accordance with the terms of the plans or agreements providing for such awards or options.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">32</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">For purposes of Dr. Young&#8217;s employment agreement, a &#8220;Change of Control&#8221; means a merger, consolidation, sale of substantially all assets of the Company or transfer of beneficial ownership (as determined pursuant to Rule 13d-3 under the Securities Exchange Act of 1934, as amended) of outstanding shares of the capital stock of the Company by 1 (one) or more shareholders of the Company, in which the shareholders of the Company immediately prior to such merger, consolidation, sale or transfer do not own at least 50% (fifty percent) of the combined voting power of the capital stock of the Company or surviving or successor corporation or entity immediately after such transaction.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">In addition, under the standard form of stock option agreement, in the event of a Change in Control, if Dr. Young&#8217;s employment is terminated or he resigns for &#8220;good reason&#8221; within twelve months after the Change in Control, then Dr. Young&#8217;s stock options will become immediately exercisable and vested as of the date of termination or resignation.&#160; See &#8220;Acceleration of Stock Options&#8221; above.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><a name="eolPage7"><!--Anchor--></a>If we had terminated Dr. Young&#8217;s employment without cause on December 31, 2013, the last business day of our fiscal 2013, Dr. Young would have received severance benefits under his employment agreement equal to (a) a payment of $375,000, equal to twelve (12) months of his current base salary, and (b) reimbursement of twenty-four (24) months of health benefits of $14,328.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Ochrym Employment Contract</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">On October 26, 2009, we entered into an employment agreement with Mr. Robert Ochrym, our Vice President Business Development, Strategic Sales and Marketing. In the event that Mr. Ochrym is terminated without cause, we shall pay Mr. Ochrym an amount limited to the payment of his salary and other earned compensation through the effective date of termination in addition to any severance to which he may be entitled under AXT&#8217;s severance pay plan or policy.</div>

<div><br>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">If a change in control of AXT takes place, and within twelve (12) months thereafter, Mr. Ochrym incurs an involuntary separation from service (within the meaning of Treas. Reg. &#167; 1.409A-1(n)), AXT&#8217;s total liability to Mr. Ochrym will be limited to the payment of his salary and other earned compensation through the effective date of the involuntary separation from service plus severance in a gross amount equal to one (1) year of his then current annual salary, plus continuation of coverage in the AXT group health plan and acceleration of stock options.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Non-Competition and Non-Solicitation Agreements</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">As a condition to each executive&#8217;s entitlement to receive the base salary amounts and equity award acceleration referenced in the tables above, the executive is required to execute a waiver of claims against us and shall be bound by the terms of a non-competition agreement which prohibits the executive from working in the our industry for a period equal to the greater of one year from the executive&#8217;s termination of employment, or, in the case of a change in control, two years from the date of the change in control.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">33</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Compensation of Directors</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Directors who are also our employees do not receive any additional compensation for their services as directors. Non-employee directors are paid a cash retainer and retainers for service on committees of the Board of Directors.&#160; In addition, each non-employee director was reimbursed for reasonable expenses incurred. We additionally granted restricted stock awards to non-employee directors in 2013 equal to such number of shares determined by dividing the sum of $30,000 by the closing prices of our common stock on The Nasdaq Global Select Market on the dates of grant, which resulted in the awards of 10,909 shares of restricted stock to each of our non-employee directors. The awards vest over three years in equal installments on the anniversary of the dates of grant, conditioned upon the recipient&#8217;s continued service as a member of the Board or employee or other consultant on each relevant vesting date.&#160; During 2013, each of our non-employee directors received the following fees for board and committee meeting attendance.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr style="HEIGHT: 29px">
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Board cash retainer:</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Initial Equity Grant (for new directors only)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">&#8226; $25,000 per annum ($6,250 per quarter)</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">&#8226; Restricted stock awards valued at $40,000, vesting in three equal annual installments</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr style="HEIGHT: 17px">
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 10pt; FONT-SIZE: 10pt">Annual Equity Grant</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">&#8226; Restricted stock awards valued at $30,000, based upon the closing stock price on the date of the grant vesting in three equal annual installments</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 10pt; FONT-SIZE: 10pt">Annual cash retainers for committee service:</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8226; Audit: $10,000</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8226; Compensation: $4,500</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8226; Nominating and Corporate Governance: $2,000</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 50%; VERTICAL-ALIGN: top">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 10pt; FONT-SIZE: 10pt">Annual cash retainers for committee chairs:</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8226; Audit: $20,000</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8226; Compensation: $9,000</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8226; Nominating and Corporate Governance: $4,000</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 50%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 50%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 10pt; FONT-SIZE: 10pt">Non-executive Chairman of the Board:</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 50%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8226; Annual cash retainer of $16,000</div>
</td>
</tr>
</table>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The following table sets forth information concerning the compensation earned during the last fiscal year by each individual who served as a director at any time during the fiscal year ended December 31, 2013:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Name</u></div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Fees Earned</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">or Paid</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">in Cash ($)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Restricted</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Stock</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Awards ($)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WHITE-SPACE: nowrap; VERTICAL-ALIGN: bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Non-Equity</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Incentive Plan</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Compensation ($)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WHITE-SPACE: nowrap; VERTICAL-ALIGN: bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">All Other</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Compensation ($)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Total ($)</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Jesse Chen</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">59,500</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">30,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">89,500</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">David C. Chang</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">46,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">30,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">76,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Leonard LeBlanc</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">51,500</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">30,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">81,500</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 40%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Nai-Yu Pai</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">41,500</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">30,000</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#8212;</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">71,500</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Procedures for Approval of Related Person Transactions</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Board is committed to upholding the highest legal and ethical conduct in fulfilling its responsibilities and recognizes that related party transactions can present a heightened risk of potential or actual conflicts of interest. Accordingly, as a general matter, it is our preference to avoid related party transactions. The Board adopted a formal related party transactions policy in February 2010. Our Related Party Transactions Policy seeks to prohibit all conflicts of interest in transactions between the Company and related parties, unless they have been approved by the Board of Directors of the Company. This policy applies to all employees and directors of the Company, our subsidiaries and our joint ventures.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">34</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Audit Committee Charter requires that members of the Audit Committee, all of whom are independent directors, review and approve all related party transactions for which such approval is required under applicable law, including SEC and Nasdaq rules. Current SEC rules define a related party transaction to include any transaction, arrangement or relationship in which the Company is a participant and in which any of the following persons has or will have a direct or indirect interest:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">an executive officer, director or director nominee;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">any person who is known to be the beneficial owner of more than 5% of our common stock;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">any person who is an immediate family member (as defined under Item 404 of Regulation S-K) of an executive officer, director or director nominee or beneficial owner of more than 5% of our common stock; or</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">any firm, corporation or other entity in which any of the foregoing persons is employed or is a partner or principal or in a similar position or in which such person, together with any other of the foregoing persons, has a 5% or greater beneficial ownership interest.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Pursuant to our Code of Business Conduct and Ethics, our employees, executive officers, and directors, including their immediate family members and affiliates, are prohibited from entering into a related party transaction with us without the prior consent of our audit committee (or other independent committee of our Board of Directors in cases where it is inappropriate for our audit committee to review such transaction due to a conflict of interest). Any request for us to enter into a transaction with an employee, executive officer, director, principal stockholder, or any of such persons&#8217; immediate family members or affiliates, in which the amount involved exceeds $120,000 must first be presented to our Audit Committee for review, consideration and approval.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Certain Relationships and Related Transactions</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Since January 1, 2007, 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 $120,000, and in which any director, executive officer or holder of more than 5% of any class of our voting securities or members of that person&#8217;s immediate family had or will have a direct or indirect material interest other than the transactions described below.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">We have made strategic investments in six joint ventures, which are private companies located in China, in order to gain access to raw materials at competitive cost that are critical to our substrate manufacturing process. We purchase raw materials from each of these six joint ventures, including gallium, arsenic, germanium dioxide, pyrolytic boron nitride crucibles, and boron oxide.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Our ownership of Beijing JiYa Semiconductor Material Co., Ltd. (JiYa) at inception was 51%. We purchase 99.99% pure gallium (4N Ga) from JiYa and have that tolled into high purity gallium which we use in our substrate manufacturing process. During 2005, our ownership share was reduced to 46% as 5% of our ownership was given to JiYa&#8217;s management upon fulfillment of working at JiYa for at least four years. There are no further outstanding commitments. We continue to consolidate JiYa as we have significant influence in management and have majority control of the board. Our chief executive officer is chairman of the board, while our president of China operations and our vice president of China administration and our vice president of wafer production are members of the board.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">35</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">We have a similar arrangement with Nanjing Jin Mei Gallium Co., Ltd. (Jin Mei) where our ownership at inception was 88%. We send the 99.99% pure gallium (4N Ga) that we purchase from Ji Ya to Jin Mei to have that tolled into high purity gallium which we use in our substrate manufacturing process. During 2005, our ownership share was reduced to 83% as 5% of our ownership was given to Jin Mei&#8217;s management upon fulfillment of working at Jin Mei for at least three years. There are no further outstanding commitments. We continue to consolidate Jin Mei as we have significant influence in management and have majority control of the board. Our chief executive officer is chairman of the board, while our president of China operations and our vice president of China administration are members of the board.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">We have significant influence over management of Beijing BoYu Semiconductor Vessel Craftwork Technology Co., Ltd (BoYu), have a controlling financial interest of 70%, and have majority control of the board. We purchase pyrolytic boron nitride (pBN) crucibles from BoYu to use in our substrate manufacturing process. Our chief executive officer is chairman of the board and our president of China operations and our vice president of China administration are members of the board.</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">36</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">EQUITY COMPENSATION PLAN INFORMATION</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">We currently maintain one compensation plan that provide for the issuance of common stock to officers and other employees, directors, and consultants. This plan is the 2007 Equity Incentive Plan which was approved by stockholders. Our 1997 Stock Option Plan was amended and restated as the 2007 Equity Incentive Plan, and all shares outstanding are reflected under the 2007 Equity Incentive Plan. The following table sets forth information regarding outstanding options and shares reserved for future issuance under the 2007 Equity Incentive Plan as of December 31, 2013:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Plan Category</u></div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WHITE-SPACE: nowrap; VERTICAL-ALIGN: bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number of shares to</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">be issued upon</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">exercise of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">outstanding options,</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">warrants and rights</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(a)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WHITE-SPACE: nowrap; VERTICAL-ALIGN: bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Weighted&#8209;average</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">exercise price of</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">outstanding options,</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">warrants and rights</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(b)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WHITE-SPACE: nowrap; VERTICAL-ALIGN: bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number of shares</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">remaining available</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">for future issuance</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">under equity</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">compensation</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">plans (excluding</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">shares reflected in</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">column (a))</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(c)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom">
<div>&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 64%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Equity compensation plans approved by stockholders 2007 Equity Incentive Plan</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2,670,528</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3.29</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1,785,504</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 64%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Equity compensation plans not approved by stockholders&#160; - None</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">N/A</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap"></td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">N/A</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap"></td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">N/A</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 64%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 16.2pt; FONT-SIZE: 10pt">Total</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2,670,528</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">$</div>
</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3.29</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1,785,504</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div><br>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">37</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">PRINCIPAL STOCKHOLDERS AND STOCK OWNERSHIP BY MANAGEMENT</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The following table sets forth, as of March 20, 2014, certain information with respect to the beneficial ownership of our common stock by:</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">each stockholder known by us to be the beneficial owner of more than 5% of our common stock;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">each of our directors and director nominees;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">each of our Named Executive Officers; and</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#8226;</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">all executive officers and directors as a group.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Except as otherwise indicated, the address of each beneficial owner is c/o AXT, Inc., 4281 Technology Drive, Fremont, California 94538.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Except as indicated in the footnotes to the table, we believe that the persons named in the table have sole voting and dispositive power with respect to all shares of common stock shown as beneficially owned by them, subject to community property laws, where applicable. For each named person, this percentage includes common stock of which such person has the right to acquire beneficial ownership either currently or within 60 days of March 20, 2014, including upon exercise of stock options and release of restricted stock awards; however, such common stock shall not be deemed outstanding for the purpose of completing the percentage owned by any other person. Percentages of beneficial ownership are based upon 32,604,958<font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</font>shares of common stock outstanding on March 20, 2014.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" cellspacing="0" cellpadding="0">
<tr>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>Beneficial Owner(1)</u></div>
</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Number of Shares</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Beneficially</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Owned(2)</div>
</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; VERTICAL-ALIGN: bottom" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Percent(3)</div>
</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2px; VERTICAL-ALIGN: bottom" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">5% Stockholders:</div>
</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2">
<div></div>
</td>
<td style="TEXT-ALIGN: left; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Royce and Associates (4)</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">745 Fifth Avenue</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">New York, New York 10151</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3,273,915</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">10.04</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Perritt Capital Management, Inc. (5)</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">300 South Wacker, Suite 2880</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Chicago, Illinois 60606</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1,958,634</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">6.01</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Dimensional Fund Advisors LP (6)</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Palisades West, Building One</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">6300 Bee Cave Road</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Austin, Texas 78746</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1,655,677</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5.08</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Directors and Named Executive Officers:</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Morris S. Young (7)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1,210,294</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3.65</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Davis Zhang (8)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">553,895</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1.67</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Robert G. Ochrym (9)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">111,170</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">*</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Jesse Chen (10)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">142,310</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">*</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">David C. Chang (11)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">98,035</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">*</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Leonard LeBlanc (12)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">92,185</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">*</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Nai-Yu Pai (13)</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">17,933</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">*</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 76%; VERTICAL-ALIGN: top" valign="bottom">
<div style="TEXT-ALIGN: left; TEXT-INDENT: -7.2pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 7.2pt; FONT-SIZE: 10pt">Directors and executive officers as a group (7 persons)(14)</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2,225,822</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom">&#160;</td>
<td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 9%; VERTICAL-ALIGN: top" valign="bottom">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">6.60</div>
</td>
<td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; VERTICAL-ALIGN: top" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">%</div>
</td>
</tr>
</table>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<hr style="TEXT-ALIGN: left; WIDTH: 20%; HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">*</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Less than 1%.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Except as otherwise indicated, the persons named in this table have sole voting and investment power with respect to all shares of Common Stock shown as beneficially owned by them, subject to community property laws where applicable and to the information contained in the footnotes to this table.</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">38</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Under the rules of the Securities and Exchange Commission, a person is deemed to be the beneficial owner of shares that can be acquired by such person within 60 days upon the exercise of options and release of restricted stock awards.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(3)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Calculated on the basis of 32,604,958 shares of Common Stock outstanding as of March 20, 2014, provided that any additional shares of Common Stock that a stockholder has the right to acquire within 60 days after March 20, 2014 are deemed to be outstanding for the purpose of calculating that stockholder&#8217;s percentage beneficial ownership.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(4)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Based on a Schedule 13G/A filed by Royce and Associates with the SEC on January 6, 2014. Royce and Associates retains sole voting and dispositive power over all such shares.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(5)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Based on a Schedule 13G/A filed by Perritt Capital Management, Inc. with the SEC on February 14, 2014. Perritt Capital Management, Inc. includes 1,958,634 shares beneficially owned by Perritt MicroCap Opportunities Fund, Inc. and Perritt Funds, Inc. According to the Schedule 13G, Perritt Capital Management, Inc. possesses sole voting power over 123,250 shares and sole dispositive power 123,250 shares over all such shares.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(6)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Based on a Schedule 13G/A filed by Dimensional Fund Advisors LP with the SEC on February 10, 2014. Includes 1,655,677 shares beneficially owned by Dimensional Fund Advisors LP., an investment advisor, as a result of its serving as an investment advisor to four investment companies and as investment manager to certain other commingled group trusts and separate accounts (the &#8220;Funds&#8221;). According to the Schedule 13G in its roles as investment advisor or manager, Dimensional Fund Advisors LP possesses sole voting power over 1,602,062 shares and sole dispositive power over 1,655,677 shares, that are owned by the Funds, and may be deemed to be the beneficial owner of the shares of AXT held by the Funds. However, all such shares of AXT are owned by the Funds. Dimensional Fund Advisors LP disclaims beneficial ownership of all such shares of AXT.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(7)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes 338,070 shares held by the Young Family Trust and the Morris Young Family Ltd. Partnership, of which Morris Young disclaims beneficial ownership. Also includes 517,805 shares subject to options that may be exercised within 60 days after March 20, 2014.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(8)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes 489,125 shares subject to options that may be exercised within 60 days after March 20, 2014.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(9)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes 97,370 shares subject to options that may be exercised within 60 days after March 20, 2014.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(10)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes 6,201 shares of restricted stock awards that will be released within 60 days after March 20, 2014.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(11)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes 6,201 shares of restricted stock awards that will be released within 60 days after March 20, 2014.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(12)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes 6,201 shares of restricted stock awards that will be released within 60 days after March 20, 2014.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(13)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Includes 6,201 shares of restricted stock awards that will be released within 60 days after March 20, 2014.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: left">&#160;</div>

<div style="TEXT-ALIGN: left">
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" class="DSPFListTable" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">(14)</td>
<td style="TEXT-ALIGN: left; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">See notes (7) through (13). Includes 24,804 shares of restricted stock awards and 1,104,300 shares subject to options&#160; and restricted stock awards that may be exercised and released within 60 days after March 20, 2014 beneficially owned by executive officers and directors.</td>
</tr>
</table>
</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">39</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"></div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: -36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: -36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Section 16(a) of the Securities Exchange Act of 1934 requires our executive officers and directors and persons who beneficially own more than 10% of our Common Stock to file initial reports of beneficial ownership and reports of changes in beneficial ownership with the SEC. Such persons are required by SEC regulations to furnish us with copies of all Section 16(a) forms filed by such person.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Based solely on our review of such forms furnished to us and written representations from certain reporting persons, we believes that all filing requirements applicable to our executive officers, directors and greater-than-10% stockholders were complied with in a timely manner other than one late filing of a Form 4 for each of Morris S. Young, Robert G. Ochrym, and Davis Zhang.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">STOCKHOLDER PROPOSALS TO BE PRESENTED</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">AT NEXT ANNUAL MEETING</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Stockholders may present proposals for action at a future meeting only if they comply with the requirements of the proxy rules established by the Securities and Exchange Commission (&#8220;SEC&#8221;) and our bylaws.&#160; For a stockholder proposal to be included in our proxy materials for the 2015 annual meeting of stockholders, the proposal must be received at our principal executive offices, addressed to the Secretary, not later than December 4, 2014.&#160; Stockholder business, including nominations or proposals, not intended for inclusion in our proxy materials, may be brought before the 2015 annual meeting so long as we receive notice of the proposal as specified by our Bylaws, addressed to the Secretary at our principal executive offices not less than 120 calendar days in advance of the date that our proxy statement was released to stockholders in connection with the previous year&#8217;s annual meeting of stockholders, or December 4, 2014.&#160; The stockholder&#8217;s notice to the Secretary shall set forth as to each matter the stockholder proposes to bring before the annual meeting (a) a brief description of the business desired to be brought before the annual meeting, (b) the name and address, as they appear on our books, of the stockholder proposing such business, (c) the class and number of shares of AXT common stock which are beneficially owned by the stockholder, and (d) any material interest of the stockholder in such business.&#160; A copy of the relevant bylaw provision is available upon request to AXT, Inc., 4281 Technology Drive, Fremont, CA 94538, attention: Corporate Secretary. You can also access our SEC filings, including our 2013 Annual Report on Form 10-K, under the &#8220;Investors&#8221; section on our website at<font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"> www.axt.com.</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">TRANSACTION OF OTHER BUSINESS</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">At the date of this Proxy Statement, the Board of Directors knows of no other business that will be conducted at the 2014 annual meeting other than as described in this Proxy Statement. If any other matter or matters are properly brought before the meeting, or any adjournment or postponement of the meeting, it is the intention of the persons named in the accompanying form of proxy to vote the proxy on such matters in accordance with their best judgment.</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 10pt" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 50.09%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 49.91%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">By order of the Board of Directors</div>
</td>
</tr>

<tr>
<td style="WIDTH: 50.09%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 49.91%; VERTICAL-ALIGN: bottom">
<div>&#160;</div>

<div><img src="sig1.jpg"></div>
</td>
</tr>

<tr>
<td style="WIDTH: 50.09%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 49.91%; VERTICAL-ALIGN: bottom">
<div style="TEXT-ALIGN: left; FONT-VARIANT: small-caps; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">MORRIS S. YOUNG</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Chief Executive Officer</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Interim Chief Financial Officer</div>

<div style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">and Corporate Secretary</div>
</td>
</tr>
</table>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, Serif; COLOR: #000000; FONT-SIZE: 8pt" id="DSPFPageNumberArea">40</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div>
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, Serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 50%">
<div><img src="image00002.jpg"></div>
</td>
<td style="WIDTH: 50%">
<div>
<div style="TEXT-ALIGN: justify; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">VOTE BY INTERNET - www.proxyvote.com </div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Use the Internet to transmit your voting instructions and for electronic delivery of information up until 11:59 P.M. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when you access the web site and follow the instructions to obtain your records and to create an electronic voting instruction form. </div>
</div>
</td>
</tr>

<tr>
<td style="WIDTH: 50%">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</font><font style="FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">c/o BROADRIDGE </font></div>
</td>
<td style="WIDTH: 50%">
<div>&#160;</div>
</td>
</tr>

<tr style="HEIGHT: 120px">
<td style="WIDTH: 50%">
<div>
<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">P.O. BOX 1342 </div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">BRENTWOOD, NY 11717</div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-STYLE: italic; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>
</div>
</td>
<td style="WIDTH: 50%">
<div>
<div style="TEXT-ALIGN: justify; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ELECTRONIC DELIVERY OF FUTURE PROXY MATERIALS </div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">If you would like to reduce the costs incurred by our company in mailing proxy materials, you can consent to receiving all future proxy statements, proxy cards and annual reports electronically via e-mail or the Internet. To sign up for electronic delivery, please follow the instructions above to vote using the Internet and, when prompted, indicate that you agree to receive or access proxy materials electronically in future years.</div>
</div>
</td>
</tr>

<tr>
<td style="WIDTH: 50%">
<div>&#160;</div>
</td>
<td style="WIDTH: 50%">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 50%">
<div>&#160;</div>
</td>
<td style="WIDTH: 50%">
<div>
<div style="TEXT-ALIGN: justify; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">VOTE BY PHONE - 1-800-690-6903 </div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Use any touch-tone telephone to transmit your voting instructions up until 11:59 P.M. Eastern Time the day before the cut-off date or meeting date. Have your proxy card in hand when you call and then follow the instructions. </div>
</div>
</td>
</tr>

<tr>
<td style="WIDTH: 50%">&#160;</td>
<td style="WIDTH: 50%"></td>
</tr>

<tr>
<td style="WIDTH: 50%">&#160;</td>
<td style="WIDTH: 50%">
<div style="TEXT-ALIGN: justify; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">VOTE BY MAIL </div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717. </div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: center"><img src="image00004.jpg"></div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea">&#160;</div>

<hr style="PAGE-BREAK-AFTER: always; BORDER-RIGHT-WIDTH: 0px; BACKGROUND-COLOR: #000000; MARGIN: 4px 0px; WIDTH: 100%; BORDER-TOP-WIDTH: 0px; BORDER-BOTTOM-WIDTH: 0px; HEIGHT: 2px; COLOR: #000000; CLEAR: both; BORDER-LEFT-WIDTH: 0px" id="DSPFPageBreak" noshade="noshade">
</div>

<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting: </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The Notice and Proxy Statement and Annual Report on Form 10-K are available at <font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt"><u>www.proxyvote.com</u></font>. </div>
</div>

<div>&#160;</div>

<div>
<table style="WIDTH: 100%; FONT-FAMILY: 'Times New Roman', Times, Serif; FONT-SIZE: 10pt" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 2%; BORDER-TOP: #000000 2px solid">
<div>&#160;</div>
</td>
<td style="BORDER-TOP: #000000 2px solid" colspan="2">
<div>
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">AXT, INC. </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Annual Meeting of Stockholders </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">May 13, 2014 10:00 a.m. </div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">This proxy is solicited by the Board of Directors</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">The undersigned hereby constitutes and appoints Jesse Chen and Morris S. Young and each of them, as his or her true and lawful agents and proxies with full power of substitution and hereby authorizes them to represent the undersigned and to vote all of the shares of common stock in AXT, Inc., which the undersigned is entitled to vote at the 2014 Annual Meeting of Stockholders to be held at 4281 Technology Drive, Fremont, California on May 13, 2014 at 10:00 a.m. Pacific Daylight Time, and at any adjournment thereof (1) as hereinafter specified upon the proposals listed and as more particularly described in AXT's proxy statement, receipt of which is hereby acknowledged and (2) in their discretion upon such other matters as may properly come before the meeting. </div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">&#160;</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">This proxy, when properly executed, will be voted in the manner directed herein. If no such direction is made, this proxy will be voted in accordance with the Board of Directors' recommendations.</div>
</div>
</td>
<td style="WIDTH: 2%; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 2%">&#160; </td>
<td colspan="2">&#160;</td>
<td style="WIDTH: 2%; BORDER-RIGHT: #000000 2px solid">&#160;</td>
</tr>

<tr style="HEIGHT: 21px">
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 2%">&#160; </td>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 19.06%; BORDER-TOP: #000000 2px solid">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Address change/comments:</div>
</td>
<td style="WIDTH: 76.98%; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">&#160;</td>
<td style="WIDTH: 2%; BORDER-RIGHT: #000000 2px solid">&#160;</td>
</tr>

<tr style="HEIGHT: 21px">
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 2%">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; WIDTH: 19.06%">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 76.98%; BORDER-TOP: #000000 2px solid; BORDER-RIGHT: #000000 2px solid">&#160;</td>
<td style="WIDTH: 2%; BORDER-RIGHT: #000000 2px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-LEFT: #000000 2px solid; WIDTH: 2%">&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; BORDER-RIGHT: #000000 2px solid" colspan="2">&#160;</td>
<td style="WIDTH: 2%; BORDER-RIGHT: #000000 2px solid">&#160;</td>
</tr>

<tr>
<td style="BORDER-BOTTOM: #000000 2px solid; BORDER-LEFT: #000000 2px solid; WIDTH: 2%">&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid" colspan="2">&#160; </td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 2%; BORDER-RIGHT: #000000 2px solid">&#160;</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>
<div style="TEXT-ALIGN: center; TEXT-INDENT: -18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">(If you noted any Address Changes and/or Comments above, please mark corresponding box on the reverse side.)</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: -18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-LEFT: 18pt; FONT-SIZE: 10pt">
<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Continued and to be signed on reverse side</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">
<hr style="HEIGHT: 2px; COLOR: #000000" noshade="noshade">
</div>
</div>
</div>

<div style="TEXT-ALIGN: center" id="DSPFPageNumberArea">&#160;</div>
</body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>image00002.jpg
<TEXT>
begin 644 image00002.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``8$!08%!`8&!08'!P8("A`*"@D)
M"A0.#PP0%Q08&!<4%A8:'24?&ALC'!86("P@(R8G*2HI&1\M,"TH,"4H*2C_
MVP!#`0<'!PH("A,*"A,H&A8:*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H
M*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"C_P``1"`!S`%H#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#ZIHHHH`**
M*H:WK.FZ%8/>ZQ>V]E:IUDF<*/P]3["@"_17A'B?]I+P_8L\6@:==ZJXX$KG
MR(C]"06/Y5PM[^TQXDDF)L]%TF&+L)#([?GD#]*!V/K&BODF']I;Q4LBF72=
M&=,\J%D!(^NZNT\-_M+Z3<R+'XAT:YL,G'G6[B9![D8!'X9H"Q]!45C>&?$^
MB^)[/[3H&I6U]$/O>4^67ZKU'XULT""BBB@`HHK,\3:U:^'=`O\`5]0;;;6<
M32OZG'0#W)P/QH`Y#XO_`!-T_P"'NE#(2ZUFX!^S6>[&?]M_11^O05\:^,?%
M>L^,-5?4-?O'N)2?DCSB.(>B+T`_6HO&'B*]\5^)+[6M3<M<73[@N>(TZ*@]
M@,"NX\`_!/Q5XN@CO'C32M.<96>[!#./54Z_B<4%;'E]%?5FF_LRZ!'`HU/7
M-3N)N[0!(A^1#58NOV:/"SQL+75=8BDQP7>-P/PVC^=`7/DNBO:?&?[//B;1
M8I+C0YX=:MD&2B#RY\?[IX/T!KQF:.2&9XID>.5"5='4JRD=B#T-`%S0]8U'
M0=2BO]&O)K.\C.5DB;!/L?4>QKZ[^"7QAM_&T:Z5K7E6OB%%R`O"7('5D]#Z
MK^5?&M6-/O+G3KZWO;&9X+JW<2Q2(<%6!R#0%C](:*X_X3^,$\<>"+'5RJI=
M$&*YC7HDJ\-^!X(]C784$A7A_P"UMJS6?@"RT^.0*;^\4,O=D0%B/SVU[A7A
MG[4FA3:Y%X+ACQLDU3[*V<_\M0`/T4T`CG/V;_A1;75G!XM\2VXFWMNT^VD7
MY0`?]:P[Y_A'X^E?2U<SXL\1Z/\`#[PE]LU!O*L[6-88(4^](0,*BCUXKY-\
M9_''QAXBN'%G>MHUEGY(;([6Q_M2=2?I@4#W/MBBOSZM_'?BRWF66'Q+JZNI
MR#]J8_UKV;X5?M!7J7]OIGCIHY;64A%U%%"M&3T\P#@K[CI0%CZ?KQ_XZ_">
MS\7:5<:OH]ND/B.!"X*#'VH#^!O5O0_A7KZL&4,I!4C((Z$4M`C\UV4JQ5U*
ML#@@C!!]*2N^^/&C1Z'\5]=MH`HBF=;M548"^8-Q'YYK@:"CZ*_8\U>1=3\0
MZ,Q8Q/$EVH[*0=I_/(_*OI^OD_\`9!M'D\::U=X/E0V(C)[;F<8'Y`U]84"8
M5B^+=%77-.@CPOGVMU#>0$]I(W##\QD?C6U10(^7OVQ+R<ZQX<L22+58)9PN
M>"Y8+G\`/UKYWK[:^./PP7XA:7;S6=P+?6+%7^SE_N2`X)1O3H,'M7QKKVC:
MAH&JSZ;K-I):7L)P\<@[>H/<'U%!2,^@C(Q16WX.\,:IXOUV'2=%@:6>0C>^
M/EA3N['L!0!]H?`?4KG5/A/X>N+QB\RPF+<>K*C%5/Y`5WU9/A+0K;PSX:T[
M1K+/D6<*Q*3U8]V_$Y/XUR?QE^(]GX!\.R,CI+K5RI2TM@<G/]]AV4?KTH)/
ME_\`:'U*+5/B[K;P<I;^7:D^K(H!_4UYQ3[B:2XGEGN',DTK&21VZLQ.23^-
M>O\`P'^$UQXOU&#6=;A>+P]`X=0PQ]L8'[H_V/4]^@H*/8_V7O"<F@>!'U2[
M0K=ZPXG"D8*Q`80'ZY)_$5[)2(JHBHBA548``P`*6@D****`"N7\<^`_#WC>
MVBB\06(F>(_NIXVV2I[!ASCVZ5U%%`'B5U\!?`&D1/>7R:Q/;J<E!*SX'IA%
MW&M.Q\=_#+P!IC6^E8LD[Q0V,HDD(]2R@L?J:]:IKHKC#JK#W&:`/F[Q?^T7
M=7A-EX%T:<SOD+<W499OJL8ZGZ_E7E5KX!^(7CG59+^?2M0GN;@Y>[O_`-RO
MYMCCT`%?<D<$,1S'%&A_V5`J2@=SP#X=_LZZ?ILD-]XPNAJ-RA#"SAR(%/\`
MM'J_TX'UKWR"&."%(8(TBB0!41%`50.@`'04^B@04444`%%%%`!17FWC3XFR
MZ3XE_P"$=\-^'-0U_60H:18OW<,61GYG((Z'-8W_``N+4M$UFRLO'?@Z]T."
M]D$4-VDPFC+'`YP!ZCI^5`'L5%`Y'%<1\0/B!%X&O+!M7TJ\?1[EQ&^I0D-'
M`Q[.O44`=O17`^,OB?I7A^XTBRTZ";7-4U7!M;2P969D/1R3P%_^OZ5W=NTC
MP1M-'Y4C*"R;MVT]QGO0`^BO!_VI?%EWIF@VVDZ='JUK</-'/_:$&8X0!GY"
MX.=W0XKK/AA\2)/%,]KIC>'->M#':AGOKR#;$Q`'\1Z[NHH`],HHHH`****`
M/F#7O&%WJWQ;UK1/&OBR^\*:%9NRV\=H3#YX!`&9`,\CG/3L*X_XJS^$"=&;
MP;?ZOJLD-X/M%_>2RRQ'D84,^`3D=A7V#?Z/INHNKZAI]G=.OW6FA5R/S%/&
MF6`M5MA96HME.Y8A$NP'U`QB@=R>V):WB)ZE03^5>8?'+QI::9I#>&+.P&LZ
M_K">1!8;-X4-P'?TQU'N/;->IU$;:`S^<88C-_STV#=^=`CY=\%Z1J/P+\4V
M>H>+-/BO=+U.!8'U&W4R-8/U*?3UQU`XZ8KZCM;B*ZMHKBVD62"50Z.IR&4C
M((ITL:2H4E170]589!I5544*@"J!@`#`%`'CO[5MO+-\*G>)&9(;R)Y,#HO(
MR?;)%=-\.?B'X7\0V.CZ7I6K0SZFUFK&V`.]=B@-NXP,5W4\,<\+Q3QI+$XP
MR.H8,/0@U0T_0=(TZX-QI^EV-K.1@R0P*C8],@4`:5%%%`!1110`4444`%%%
0%`!1110`4444`%%%%`'_V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image00004.jpg
<TEXT>
begin 644 image00004.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``8$!08%!`8&!08'!P8("A`*"@D)
M"A0.#PP0%Q08&!<4%A8:'24?&ALC'!86("P@(R8G*2HI&1\M,"TH,"4H*2C_
MVP!#`0<'!PH("A,*"A,H&A8:*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H
M*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"C_P``1"`(<`PH#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#Z=U?4(]+T
M^:\FBFDBA4NXB4$@`9)QD5GR>);6)RLEO=A4"F9_+&V'<>-W/X\9XJ_K=FVH
M:/?6<;*CW$+Q!FZ`D$9K'OM#OI'OH;::W%G?[//+YWI@!6V]CD`=<8H`UKK5
MK6UN)(9V962W:Y)QP4'7'Z?G5)?$UFSC;#=&+<L9F\OY%<C(0G/7D>V3UIGB
M307U46(@F$/DOME)S\\1^\OXX%0R:%>;IK.*6W&ES7/VDDY\U<G<R`=,9'7/
M?VH7G_7]('L3Q^)K=W1!9WV][AK908UY=0Q;^+L%-:&L:I!I&DSZC>"06\";
MW"KE@/I6+=^';EVMVBEC)BOY;S'F/'E75P!N7G/S5>OK.[U?0[NSN8H[=W8H
MF6+@J#P3]:.@Y:;?UN3/KUBNI6%CO9I[V%IXL+E=B@')/;.>/7!]*J0>*]/N
M+!;JV6XF5KAK546/YBX!/0GIA2<UC_\`"'WRO+)'?1";]Y'"Y!S'"4*JOU&X
MG\:<_@@K,L45]*U@6C=E9MD@*QO'\I0#'!7\C0)>?]?TS;M/$NGW=Q%!;F5Y
MI-I"!><,,[CZ`=S3KOQ#:6NI-92QW&Y2H:0("@+`D`G/?![5CZ)X6N]*U%;^
M*X@^T>7%;R*%(22)!CICANXQ[BI-5\,W-YXB:_2:)8F*$$N^5VJP/R?=.=W4
M\BB7D-6ZFM+KMLMM92PPW-PUW&)HHHD!<IC.2"0!U'>FP^(;6Y>%;&*YNRZ+
M(WE(/W8;INR1CH>.O!JA::1JUG!IKPO8FZM+86I5F;8Z@#G.,@Y'I3M'T2_T
M5\V<MM.)PIN/-ROSY)9EP#P=QX/H*IVOH2KV5RP_BG3ECG=3,X@+B3:F=A5R
MF#SU+`X]:M76L1VNGQ74]M=+YD@B6'8/,+$X'&<?K6/IOANYTM;Y;8VD\-]-
M--<6\X.QF=R01P?X2`1TX_-T_AZ\E\-P6!GC,T5R)U'FNJJ@?<(PX^;`'`-2
M5I<O6OB6TNO,\F&Z98H1/(VP`(IW<'GK\AJ:YUVVACM3'%<7$ES$9HXH4!?8
M,98Y(P!N`_&L'3?"MY9&8>=$RRVBV_$TBA"/,_A'##YQRW/%78=)U:W%C/`]
ME]IM[8VC*S-L9?E(;.,@@KT]Z;$MB5O%^DK;).9)/+>YCM!A.=[],^W/)J])
MK=I';/.WF>6MP+;.WJY8+Q[9/6N6N?`DLBSQI>1B&6R:/!4Y%R3Q+^`XK;?0
MIW\.V5@T\9N(I8II9,'#LKAF(^ISBE_7]?UU$RUH_B*PU>&SDLGD9;N)I8]R
MX("XR#Z'D5!;^*K"9RNRYC.Y57>@&_,GEY'/3=5'0/"LVDZI9W"W$9MXK,0R
M1`'F7"@N/8A:HVOA"_MS(ZSV^_S%=09'8-B8R<Y^[QQA>*K2Z_KJ#OK;Y'4W
M&L6L`N3)OQ;RI$^%_B?&,?\`?0HTW6+>^TL:BJ2PVAC$P>90N4QG/4]JRKK1
M+^YGG#26JV]S+%--@L65D(X7C!!VCK3]#T":T\+MH]Y("#;"W,B2N_\`#M)`
M;[OT'%3T?<I6)3XHLTB=Y8+N(A!*BO&`95+!<KSZD=<=:L#7K4Z5]O$<Y02F
M$Q[!O#AMI7&<9R/6LB]\.ZAJ<*IJ$]LOE0B&/R2PW?,I+$\$'"]!ZU,?#DZ>
M&3I44L9V7!DB8NZDIOW`,P^;=V)ZGK0]A&II.MVNJ3216XE62.-9'61<%06=
M<'WS&U5K;Q1IMS:75Q"\C+;S_9F4)\S29``4=\Y&*RM+\.:II@N?LUQ:YGM5
M@R6<F(AY6X.,M@2`9//'-)#X.GLID>QOV<+'"VV<#!EB;*GY5'!!8'OTIZ7!
M^7]?TS9E\16L!1+J&Y@GD4M'"Z#>_(&``3DG/\Z77O$5CH42R:AYJJ5#_(FX
M@%U3^;BJ%_H5]J&J6>J2RVUOJ%G$Z0F,LRY8C(.0,@@$'\QTJ;Q#H,VKW-G*
M9(D$6S>IR0<31R''X1D?C0NEPZ_=^ER>Y\3:9;7#12RL"!D,!D-P"`/4G(P.
M^:GU?6K72-&;4K]9HX5"DH$RXSVP._\`A7+Q^!9A?"4WJA+>9IK-@#NA^4!`
M>Q`Y&/3BM[5-'N=6;3?MER(4M\R2K``=\FW`QN!&.3U'>D]M`7F7$UB"74OL
M4$<TSA%D:1%!1%;.TDY[X/2H9M?M89+Y7CG"V;B.1]@VERJL%'.23O6LK3/#
ME]9MI49EMRMA^[6Z!;SI(1D*C<8/&W/N,U8N?#;RR:M,EP5GNKE+B'YW*+M1
M``RYQU0\XS@T]`1>M=>M9[A;=H[B"Y,@C,,J`,,@D$X)X(!Y]J=)KEJEBMRJ
MS2!IF@2-%R[N&*D`?4&LM]$U*74UU25[/[8'0>6K-L"('QSC.27)Z40Z)J45
MK"%DL_/MKI[F$Y;:VYF)5N..&(R,T@ZED^*].2*X>43Q-!#)-(CQX90A`88]
M1D?F*7_A*;%I;6*".YGEN8TDC2-!DA@S=R.0%)(K-NO"EU=S6MS/<0+<&[::
M["J2KQ,`#&O_`'PG)]*BL?"5W9Z'-8L]I=2O.SI+(60PJ!B,J0,[E&.>.]'3
M^OZ_X8/Z_K^NIV,$\<Z%HG5L':P!!VGN#CN*DJMI\<\5LL=TR/(O&]?X\?Q'
MW-6:;`****0!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!
M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%
M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%4=6U--,CC>2V
MO;@.<8M;=I2/J%'%9G_"5P?]`K7?_!;+_A0!T-%4;#4TO;&2Z6VO8EC)!CGM
MVCD.!GA2,FLS_A*X/^@5KO\`X+9?\*`.AHK'T[7XK^[6W2PU6$L"=]Q921H,
M#/+$8HU'7XK"[:W>PU68J`=]O922(<CLP&*`-BBN>_X2N#_H%:[_`."V7_"M
M._U-+*QCNFMKV59"`(X+=I)!D9Y4#(]Z`+U%<]_PE<'_`$"M=_\`!;+_`(5I
MZ3J::G'(\=M>VX0XQ=6[1$_0,.:`+U%<]_PE<'_0*UW_`,%LO^%367B**[NH
MX%T[5XBYP'FL9$0?5B,"@#;HK*U76X].N1"]EJ4Y*AMUM:/*O4\948SQTJG_
M`,)7!_T"M=_\%LO^%`'0T51FU-(M+6^-M>LC`'R4MV:49]4QGZUF?\)7!_T"
MM=_\%LO^%`'0T5G:1JT>IF41VE_;^7C/VJV>'.<]-PYZ51F\3PQ2O&=,UMBC
M%<II\I!QW!QR*`-^BL*W\30SW$4(TW64,C!`TEA(JC)QDDC`'O5O5M8CTR2-
M)+/4+@N,YM;5Y0/J5'%`&E17/?\`"5P?]`K7?_!;+_A6FNIHVD_;_LUZ$P3Y
M)MV$W!Q]S&?_`*U`%ZBN>_X2N#_H%:[_`."V7_"KNE:U'J4[Q1V6HVY5=VZZ
MM'B4\]`6')]J`-2BL.[\20VUS+`VFZQ(8V*EXK"1U/N"!@BHT\4P,ZK_`&7K
M@R<9.G2@?RH`Z"BL_5]433!$9+6^N/,SC[+;M-MQCKM''6L[_A*X/^@5KO\`
MX+9?\*`.AHJB=30:3]O^S7I3&?)%NWG=<?<QG_ZU9G_"5P?]`K7?_!;+_A0!
MT-%9FDZQ'J<DB1V>H6Y09S=6KQ`_0L.356Y\2PV]Q+"=-UES&Q0M'82,K8.,
M@@8(]Z`-VBL"+Q1#)*B#3-;4L0N6T^4`9]3C@5>U?5H],,0DM+^X\S./LML\
MVW&.NT<=:`-&BN>_X2N#_H%:[_X+9?\`"M.#4TFTM[X6UZB*&/E/;LLIQZ(1
MD^WK0!>HKGO^$K@_Z!6N_P#@ME_PJYI>N1ZC<F%+'4X"%+;KFT>)?IEAC//2
M@#5HK%OO$45G=R0-IVKRE#@O#8R.A^C`8-0?\)7!_P!`K7?_``6R_P"%`'0T
M51U74TTV*.1[:]N`YQBUMVE(^H4<5F?\)7!_T"M=_P#!;+_A0!T-%4=/U-+V
MREN4MKV%8R08Y[=HY#@9X4C)ZUF?\)7!_P!`K7?_``6R_P"%`'0T5CZ=K\5]
M=I;I8:K"S9^>XLI(T&!GEB,"C4M>BL+MH'L-5F*@'?;V<DB'/HP&*`-BBN>_
MX2N#_H%:[_X+9?\`"M.^U-+.PCNFMKV57QB.&W:209&>5`R/>@"]17/?\)7!
M_P!`K7?_``6R_P"%:6DZFFII(T=M>V^P@8NK=HB?H&'-`%^BN>/BJ`'_`)!6
MN_\`@NE_PJ:R\10W=U'`NG:O$7.`\UC(B#ZL1@4`;=%96JZW'IMPL+V6I3DJ
M'W6UH\JCDC&5&,\=*I_\)7!_T"M=_P#!;+_A0!T-%49M32+2UOC;7K(0#Y*6
M[&49/]S&?K69_P`)7!_T"M=_\%LO^%`$OC+4[S2-%%UIL44MQY\,820$AE9P
M&`P1S@G'OBN>U?QK=1ZJ8=-C@DLWCB2.5E9CYKNHS@'D`,#CJ3QD5TEK=VNO
MJ8I;&_B6!TE'VJW>$%@<C&<9P1TKGF30;4/:QZ%K@6-VPT5G/PV_=N5A_M`$
M$>V*%Y]P=^A)>>*KFV\N07%J\*&,/F!D:8M+L*J-QVE<^_X4W3_%-[J$=H(I
MK6*XOI/W,<EL_P"ZC^;YB=PW_=QQMY-/MY-(GFLH/[(U\+'*"@EMIQ'O+9W/
MG@\\Y;ZU/JVG:-IDJ!].U6=W^9'M$FE\G!SA2I^3DG@8H7F`^WUO4)Y-)VRV
MB_:'D$Z&)OE6,L'8-NX&1QD5%J7B2[&O-:Z6]K<PB.)E1(V=GW&0,=X;`QL'
M;UI+35-+M)(W@T37%:.'R%SI\QPF<D<CN>IZFMBW:R2QGU:&QO(FFB"/$('6
M;:K-@"/J#EF/`SSFAC7F8\6OZE*EK:B2VCU.3+2I+;,HB`0MC;OYS@@'/K5$
M>-;I5BN)5ME25VB6VV,),B+>'W9^Z2.F/QJ1Y=&?<9-'\2O*Q!,K6UR9.`0!
MOZXP3QG')]:T=+@TG5+[_D&:I$T4)51>02QQ*N-N%#?*#@]N<9H8D5SKNKPW
M`AG-N4B<-/<16S,JH8PP^7?QSD9R?I77PR++"DB,'5U#!AT(/>N-NO[)M#/9
M?V;XB90Y\QX8KAA+P!RX/S+@`#M6E!XEMD2.&+2=;1%`11_9TH`'0=J8CHZ*
MS]7U1-,6(R6M]<>82`+6W:8C'KM'%9W_``E<'_0*UW_P6R_X4AG0T51M-32Z
MTZ2\6VO8U0,3%+;LDIP,\(1DY[>M9G_"5P?]`K7?_!;+_A0!T-%9FDZQ'J4K
MI'9ZC;E%W9NK5X@?H6')JK<^)8;>YEA;3=9<QL5+1V$C*V#U!`P1[T`;M%8$
M7BB&21$&EZVI8@9;3Y0!]3CBKVKZLFF>5YEI?W'F9Q]EMGFVXQUVCCK_`#H`
MT:KZE<_8M/N;DKN\F-I,9QG`S6-_PE<'_0*UW_P6R_X5=DNX=1T&YF>WOHX6
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M0;YY(Y&8:;)D%"",?+TXYI#-+P[XCGU>>W#VT%LDMO'.`\IWMN0,=HVX(!..
MN>.E5KCQ?)!?3P?9(9-LLD,:QS9?<I`!88^4'/7FI9M/MM"BTMV?5[R"T58H
M((;<2[,)C+;$W=!W.,FJ4E[IDEI=P-I7B#_296F:0:=('5B<\';V(&,YH>_D
M-^18U3Q7=:7*]M>VMI'=IM<YN"(RC*Y!#;<YS&PQBI+[Q+?6P\S[#;F'[(+O
MYIF#8W`8QM]_6H[+2+'5;::]O!JT\JL0YOH!'*X"$!0@0?*`[8P.I/)JE/<:
M?/;B&6Q\3,/LOV3<=/?)3(.?N=>*%OK_`%I_F&G]>O\`D:K^);E($O6LH_[.
MED:&-Q*?,SSM)7&`"1CJ3R.*=X<\4?VS]C4VOD2S6SS2H7R8V4H-O3G._.:S
M=/M[*_OH[41^(8[8N\L<%Q:&."-RIYW%,]S@%B,GITQ(T&FZ#KRSQ6>MS3I9
MK:DP6KRQ.O'S$JN-^%`)]NE->?\`6G^8GMI_6O\`D6[/Q)=7L-HMM;V;W5T[
MA$%P=J*A^8N=N0>G`!Y-53XRE74(+1[.%93(D,J><=^XR;#L&/F`'S=N,U5^
MTZ>EK:Q6UCXEMI;9V>.XBTYMXW9W`Y0J0<XY'ZC-6[S1--L[&"^>/5II6,;!
MHH?,G#A_,W%0N0<Y!XQ@XP*%:_D+IYFEK.O2Z;J*67V3S);D`6F&.)&S\P;C
MY<#GOQ563Q-<Q6XO)+*,6$KR1PL)3O++NP2N,`':>Y[4VYUVTN+NUN'TO7P]
ML69`-.DP<C!S\M)HVF66I&0XU>.TBD9TL[V#RHU9\Y*Y4,>K?Q$#-3K8KJ3:
MIXF>R6W*V\69K=)]TDNU5W,JX)P>/FZ^U$_B9X_#=EJ?DVZFXD$?[R8K&!DC
M=NQ]TXR..AK$4Z?\JW-KXHNO+5(T,NGL=B*V0HP@R.!R<GCK5VQ.FW5M9Z2;
M#7!;QS^9']HL75%Y)"DE<!!G`]@.:I^1*OU+5EXK:X+O+;PPQQV<5TRM-^\.
M\/PJXY^[USWJW)JVHPV4<T]E;"2Y>..WC28DDL3]\[>,#!XSWK)NK"QT2[\I
MH]<NTDM4A98;3ST**7`!8)D'YCT(XQ4!O+=[/[-,GBN5$*-`S::0T#*<@J1&
M,]A\V[I]<CM<%<M:CXPN+"9K>XM+9;J+S/-!G(4[0A`0[<DD2#C`Z59/B6[4
MR3/IZ&S6Y:T!24F3?_#E<8P3QU[BJ]SHFG/I1U&\35KIY4??N@S<,9-@R8U4
M8*[%Q@#`JA;RV<4Y<Q>*Y$\TW"QOIQVK*1]_B,$D=0"2,]J16EM#K?#VHR:I
MIZW,JP(S?P1.6VGN&R!@CTK3KG?";PL]X8X]6\Z1A)++?VODESC`P`JKV["N
MBILE!1112&%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%
M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444
M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110
M`4444`%%%%`!1110`4444`4]9D:+2;R2-BCK$Q#`X(..M<)<7\\$-NEK?WES
M!(+-Y2+C+*[2890Y(QD=L\?C7HS*'4JP#*1@@C(-5UL+-(3"MI;K$3N*",!2
M?7&.M"T=_03U5CE-=O#IET+M9KYE2Q:5+<3L^^3<JHN`2"22!^-9^C:C>LEM
MI&JWUVABG99[I]T4D@*[D&3@J"=W_?(%=^;:`A088B%QM^0<8.1C\0#1-;03
M!A-!%(&P&#H#G'3-"T_KS'_7X'&ZMJ-U9#5XK%KN>&*WB,<PF5O+))R<LV3^
M&:F\>ZE?0FVM=):Y%S&IO'%NA8LJ=$.`>&/%=6EK;I&42")4(P5"``CZ5)L3
M>7VKO(QNQSCTH`\QO/$EZLFHW45Y*VGWES!':L#_`*DF.)L#V8,WXUO^$KJ1
MKC3@E]/=BXL1+<K)*9-CX7!R?NYR>/QKJA9VPC\L6\(CR&V[!C(Z''X"EMK2
MWM0PMH(H0QRWEH%S]<4[H35W<\TEU74%O;E7N+U(VDE`S<8\T"ZVCR^?EVKP
M<XSN'I6]JGFIJ$1M[J_C!TVXF\LW);YU:,`G!()&X_G7626=M(N)+>%QDG#(
M#U.3^9IZ01)MV11KM!484#`/4?3@4AO5G!:SJUU(L0L[FXF7R++<EO-M8L\I
M##=D8)''6LB37M5L]*OKZ2_FDMOL8A;YLFWE(8H^?7/R$^I!KU&*SMH@1%;0
MH"P8A4`R1T/UI3:6QC=#;PE'^^NP8;ZCO3O^8T[&)K4;MJVC[;FZC64N'6.9
ME5L1DC(!]:YNXUK4C9:=S=0EHI"96=<2$2H`>"3T)Z@=:]#9$8J6525^Z2.G
MTIAMX"J@PQD+P`5'%+J2D<WHEQ+%+J=K<W$D]VB-*)EG,D;*2<8'\!'3'M6#
MHDFHRG3%U6]O;73;RV20-)<_O'D$8+'>"=JG.<9['BO08+6W@W^1!%'OY;8@
M&[ZXZT36MO-`(9H(I(1C",@*C'M0M/Z]0_K\CSG^U=1>YL=UQ=F+<8Q<"7:G
MEB=D5W&?FW*%YQWS5V]N;VPBNY;6[NWD6]FB422M(`HCR!@^AYKNC;0%0IAC
M*@!<%1C`Z"G>3%G/EIG.[[HZ^OUH_K\4/^OP9YSK5U>Q/96VAZO<2FY6*221
MI3)LD\Q`!DYP&!8%?:M2PUV[N_#WB"]A:03P3&-489,)$:;@![$M76Q65K""
M(;:",%@QVQ@9(Z'ZU*D,2!PD:*')9L*!N/J?6G?0.WD>>ZM<7T5]!::%JL\Z
M%H)=SRF3Y_WA*%CV8*,KV_&G:%J]SKEQJ")J$UOYBR^2"^#&ZR8`_#&,5WD-
MG:P+M@MH8QNW81`.?7CO2?8;3>'^RP;P2P;RQD$\DT@_X!E>$)KV\TTW^HN/
M.N6)\E&)2(+\N%_(G\:W:1$5%"HH51T`&!2TV)#99$BC:25U2-1N9F.`!ZDU
MYWJ'QK\`6-T]O)KZ2.AP6@@DE3\&52#^!K,_:6O;J#P!%9VDS0B_O([:5EZ[
M">175Z3X%\):%H<4*Z)IK06\67EN+=)&(`Y9F89]Z3=M2D<__P`+V^'W_0:D
M_P#`.;_XFC_A>WP^_P"@U)_X!S?_`!-8^AZKI6J^&-9U)/!V@17-D!=10M:Q
MXFM&Y5\XX8@-[9%127]O=^'-/UW2O"7A86&H7@MK=;BT4OL9@JN=HP#G<<?2
MG;6W]:B\S=_X7M\/O^@U)_X!S?\`Q-'_``O;X??]!J3_`,`YO_B:O^*]/T70
M-+TZ=O#.@RSW%U#;2#[&@4;S@D<9KA;#QAX?>TBDOO!NB13*UR9HEM(\[(TW
M1LN1T;I^!I=_(?8ZO_A>WP^_Z#4G_@'-_P#$T?\`"]OA]_T&I/\`P#F_^)K:
M\,^&;.ZLA/K7AGPW$TH5XTMK1#M!&<,2.3]*V?\`A$?#?_0OZ/\`^`4?_P`3
M3:L)-,XS_A>WP^_Z#4G_`(!S?_$T?\+V^'W_`$&I/_`.;_XFNS_X1'PW_P!"
M_H__`(!1_P#Q-'_"(^&_^A?T?_P"C_\`B:0'&?\`"]OA]_T&I/\`P#F_^)H_
MX7M\/O\`H-2?^`<W_P`379_\(CX;_P"A?T?_`,`H_P#XFC_A$?#?_0OZ/_X!
M1_\`Q-`'&?\`"]OA]_T&I/\`P#F_^)H_X7M\/O\`H-2?^`<W_P`379_\(CX;
M_P"A?T?_`,`H_P#XFC_A$?#?_0OZ/_X!1_\`Q-`'&?\`"]OA]_T&I/\`P#F_
M^)H_X7M\/O\`H-2?^`<W_P`379_\(CX;_P"A?T?_`,`H_P#XFC_A$?#?_0OZ
M/_X!1_\`Q-`'&?\`"]OA]_T&I/\`P#F_^)H_X7M\/O\`H-2?^`<W_P`379_\
M(CX;_P"A?T?_`,`H_P#XFC_A$?#?_0OZ/_X!1_\`Q-`'&?\`"]OA]_T&I/\`
MP#F_^)H_X7M\/O\`H-2?^`<W_P`379_\(CX;_P"A?T?_`,`H_P#XFC_A$?#?
M_0OZ/_X!1_\`Q-`'&?\`"]OA]_T&I/\`P#F_^)H_X7M\/O\`H-2?^`<W_P`3
M79_\(CX;_P"A?T?_`,`H_P#XFC_A$?#?_0OZ/_X!1_\`Q-`'&?\`"]OA]_T&
MI/\`P#F_^)H_X7M\/O\`H-2?^`<W_P`379_\(CX;_P"A?T?_`,`H_P#XFC_A
M$?#?_0OZ/_X!1_\`Q-`'&?\`"]OA]_T&I/\`P#F_^)H_X7M\/O\`H-2?^`<W
M_P`379_\(CX;_P"A?T?_`,`H_P#XFC_A$?#?_0OZ/_X!1_\`Q-`'&?\`"]OA
M]_T&I/\`P#F_^)H_X7M\/O\`H-2?^`<W_P`379_\(CX;_P"A?T?_`,`H_P#X
MFC_A$?#?_0OZ/_X!1_\`Q-`'&?\`"]OA]_T&I/\`P#F_^)H_X7M\/O\`H-2?
M^`<W_P`379_\(CX;_P"A?T?_`,`H_P#XFC_A$?#?_0OZ/_X!1_\`Q-`'&?\`
M"]OA]_T&I/\`P#F_^)H_X7M\/O\`H-2?^`<W_P`379_\(CX;_P"A?T?_`,`H
M_P#XFC_A$?#?_0OZ/_X!1_\`Q-`'&?\`"]OA]_T&I/\`P#F_^)H_X7M\/O\`
MH-2?^`<W_P`379_\(CX;_P"A?T?_`,`H_P#XFC_A$?#?_0OZ/_X!1_\`Q-`'
M&?\`"]OA]_T&I/\`P#F_^)H_X7M\/O\`H-2?^`<W_P`379_\(CX;_P"A?T?_
M`,`H_P#XFC_A$?#?_0OZ/_X!1_\`Q-`'&?\`"]OA]_T&I/\`P#F_^)H_X7M\
M/O\`H-2?^`<W_P`375ZCX<\+V%A<7<_A[23%!&TC[;&(G`&3CBL/1Y/`VH6=
MI<7&AZ1I?VS!MHM0MK:*2<$9!1<G(YH`H?\`"]OA]_T&I/\`P#F_^)H_X7M\
M/O\`H-2?^`<W_P`374:?H?@W4H&FTW2_#]Y"IP7M[>&1<^F0.M<M!K?P]EN[
M"V.@6,<MY'-*H?3H@$$1(</Z'Y3^5`["_P#"]OA]_P!!J3_P#F_^)H_X7M\/
MO^@U)_X!S?\`Q-51XJ^%_P!F9WTW28IQ"9S:R6,2S8\L/C:1UVL,<\UJRW_P
MWB:R+6GASR;HLHG$5OY<;*NXJ[=%//2G9BT*G_"]OA]_T&I/_`.;_P")H_X7
MM\/O^@U)_P"`<W_Q-;5_;^`K)9Q)8>'7GB@-R;>."!I6C`SN"=2,=ZJK+X!>
M]TVSBTK1)+R_*A+=+6!I(\H7!D7JHP*0&?\`\+V^'W_0:D_\`YO_`(FC_A>W
MP^_Z#4G_`(!S?_$UN>*+#PEX<TP7UYX9L)D,J0K';V$+.S.P4``X'4^M);VG
M@>1EAN-*T"SO3%YSV=S#;K/&O4EE&<`>O2@#$_X7M\/O^@U)_P"`<W_Q-'_"
M]OA]_P!!J3_P#F_^)K8UB'P+IGANXUUM(T6YTZ$9WVMI#+O)(`5<#!))`QFL
MZ_O_``'96%O>2>'[!X)[)K]#'I\1_=J5!!_VLL./K0!!_P`+V^'W_0:D_P#`
M.;_XFC_A>WP^_P"@U)_X!S?_`!-=DOA+PVR@CP_I&",_\>4?_P`32_\`"(^&
M_P#H7]'_`/`*/_XF@-#C/^%[?#[_`*#4G_@'-_\`$T?\+V^'W_0:D_\``.;_
M`.)K7UKPSH\&JZ<D&DZ-%;S%_,7^S86.%7/!Q2:)I_AW4I(T?PGI,!FMQ=09
MMHFWQDXY^7Y3R..>M`WH9/\`PO;X??\`0:D_\`YO_B:/^%[?#[_H-2?^`<W_
M`,32VUYX5N=1%BGA'35N&MEF7-K%@MNVNGW>JY4GZU7@BL)GB\CPGH<BM+"B
MAK:)2X:,L<_)QTH%Y$__``O;X??]!J3_`,`YO_B:/^%[?#[_`*#4G_@'-_\`
M$TD3Z`LL]Q-X2T@Z:/)`<6L6Y&<'C&WYN>^1UI+V30;::U$WA+2(LKYS1BUB
M<O&T3LF#M&#N3FG9@VD._P"%[?#[_H-2?^`<W_Q-'_"]OA]_T&I/_`.;_P")
MK8T+1-&NQJ9O_#&AP/;3;%06T1`&T'EMH_E5"P?PI=RO&OAG0G=(Y9&:"*&5
M/D56P&"\YW?ABE_PXUJ5O^%[?#[_`*#4G_@'-_\`$T?\+V^'W_0:D_\``.;_
M`.)J.WAL+F:,P^$-"9&N'01^1$"4$2N"3LX//I4S77A?^SGU!/!^EM8A"5<V
MT09G$7F;=NW@8XSGK3LPW&_\+V^'W_0:D_\``.;_`.)H_P"%[?#[_H-2?^`<
MW_Q-#P::NH)$/!VBL3O+P^1$2,1!PJG9R36C':>&[WP]J>IZ;X9T9TMD8Q,U
MK%ME(0,?X>@)*_4&D"5[>9G?\+V^'W_0:D_\`YO_`(FC_A>WP^_Z#4G_`(!S
M?_$U=L;?P_-+$LWA'1UB,L=M)*+>(XE9%;`7;R/F`S^E.UN/PKI-Y-;3>%M+
M>6/:RA;2+YD96.[[O&"C#_\`73L):E#_`(7M\/O^@U)_X!S?_$T?\+V^'W_0
M:D_\`YO_`(FI)4T.+4A!<>$-%A2%9&N?W$38"HKJ5.SGAJT])T[PYJFEW=S#
MX9T198`<*MO$Z,=NX88+COSZ4AF1_P`+V^'W_0:D_P#`.;_XFC_A>WP^_P"@
MU)_X!S?_`!-&E+HGV"&6^\*:.X!B2:9+:(;7DQM`79R,E1GWK:M-+\/3>&5U
M>?POH5J&A\\)-%"JA2,C<^S"_EQ3MU`Q?^%[?#[_`*#4G_@'-_\`$T?\+V^'
MW_0:D_\``.;_`.)J2UE\-W+@P^$-&>!72.25(H6`9I-@VX3YAG'/'6M'0K+P
MQK-K<2P^&-*B\B,>9FTB.V3!W1_=ZJ1@TNEPZV,K_A>WP^_Z#4G_`(!S?_$T
M?\+V^'W_`$&I/_`.;_XFDMI_#OV033>#]+,*A$\T6\.7D:%),;=G'WP,YIH7
M1[?4+E+_`,)Z.B17'E^7':PMA/*1MQ;;SRQ/04[6=A75KC_^%[?#[_H-2?\`
M@'-_\31_PO;X??\`0:D_\`YO_B:%;0)YY8[+PEI,KR('@5K:%5*XD._.SN$!
MQ[BK.E1^')]/MWN/#&C"9I?(8FVB50WD^9G.W@=J0716_P"%[?#[_H-2?^`<
MW_Q-'_"]OA]_T&I/_`.;_P")JWH-OX<UC6Q;1>'M`\E(92_DV\,JEU:/!5PO
M(P]=1_PB/AO_`*%_1_\`P"C_`/B:.B873;78XS_A>WP^_P"@U)_X!S?_`!-'
M_"]OA]_T&I/_``#F_P#B:[/_`(1'PW_T+^C_`/@%'_\`$T?\(CX;_P"A?T?_
M`,`H_P#XF@#C/^%[?#[_`*#4G_@'-_\`$T?\+V^'W_0:D_\``.;_`.)KL_\`
MA$?#?_0OZ/\`^`4?_P`31_PB/AO_`*%_1_\`P"C_`/B:`.,_X7M\/O\`H-2?
M^`<W_P`31_PO;X??]!J3_P``YO\`XFNS_P"$1\-_]"_H_P#X!1__`!-'_"(^
M&_\`H7]'_P#`*/\`^)H`XS_A>WP^_P"@U)_X!S?_`!-'_"]OA]_T&I/_``#F
M_P#B:[/_`(1'PW_T+^C_`/@%'_\`$T?\(CX;_P"A?T?_`,`H_P#XF@#C/^%[
M?#[_`*#4G_@'-_\`$T?\+V^'W_0:D_\``.;_`.)KL_\`A$?#?_0OZ/\`^`4?
M_P`31_PB/AO_`*%_1_\`P"C_`/B:`.,_X7M\/O\`H-2?^`<W_P`31_PO;X??
M]!J3_P``YO\`XFNS_P"$1\-_]"_H_P#X!1__`!-'_"(^&_\`H7]'_P#`*/\`
M^)H`XS_A>WP^_P"@U)_X!S?_`!-'_"]OA]_T&I/_``#F_P#B:[/_`(1'PW_T
M+^C_`/@%'_\`$T?\(CX;_P"A?T?_`,`H_P#XF@#C/^%[?#[_`*#4G_@'-_\`
M$T?\+V^'W_0:D_\``.;_`.)KL_\`A$?#?_0OZ/\`^`4?_P`31_PB/AO_`*%_
M1_\`P"C_`/B:`.,_X7M\/O\`H-2?^`<W_P`31_PO;X??]!J3_P``YO\`XFNS
M_P"$1\-_]"_H_P#X!1__`!-'_"(^&_\`H7]'_P#`*/\`^)H`XS_A>WP^_P"@
MU)_X!S?_`!-26_QQ^'T\Z1#7=A<X#26LRJ/J2O'UKK_^$1\-_P#0OZ/_`.`4
M?_Q-07W@?PO>VDMO-X?TL1R*5)2U16&?0@9%`&Y975O?6L5S9S1SV\JADDC8
M,K`]P14U>-_LZM-8+XJ\/F5I;32]1:.WW'E4/:O9*`/'_P!IG_D5-&_["D/\
MZ]2U73H=7T:?3[EI%@N8O+<QMM;:1S@UY;^TS_R*FC?]A2'^=>O1?ZM/H*![
M''-\-?#:L_V.U:QCEB6&:*T(C290P8;P!SR/RJV/!&DI926D'GQ6S7HOTB5_
MEBE!!^48X7(SCU)KJ*Q_%FLR:!H=QJ4=C)>K;J7DC1PA"CJ>:&["2OH5Y/"]
MO=:+8Z?J5U=79M9EN!,[X=W5MP)Z\9[5F_\`"M_#IN;.>2WED>UMI;1=S\/'
M)G(;CGJ<>F:BTGXB6$^HK8ZO;R:5</##/&)6WJPE+!1N48'W>^.HKI-)U_2]
M6N;BWTZ\CGFM_P#6*H(QR1D9'(R",C(XIM/^ON"_]?B4]&\,1:4]OY.IZK-'
M`3LBGN`R8V[0I&.0.HSWK?KB(OB%:?\`"4S:1<V4UO#'/+;?;&=2A>./S&R.
MH&WO6JOC7P^UB]VNHJT".$8B)R02"1\NW.,`G.,8I7NKA:SL=%17-S>.?#4,
MCH^K0;U5&VJ&8D/C;C`Y)R,`<U8\.^);/6]#EU:/]Q9QR2HSRG``C8@L?0<9
MH`W**XW5?B)HEI8PW%D\E^\UPELL44;!@S<@G(X&.0>_:KGBCQ1)HM_IUE;:
M7/J%S>J[JD4BI@(,GK1L!TU%<=:?$;0)K>.XFN&MK=[9+GS)5.`&=D"G&3NW
M*15^/QMX<DCN'35H"D"[G.&QC.../FY..,\\4`=%17*Q>/M!>^OK9KF6(6D,
M<SR2P2(I$A(4#*Y)XZ=3GCO4TOCGPU"D#RZO;HLZLZ;@PR%.&SQQ@\<XH`Z2
MBJ%KK%C=:2VIQ3G["JES*Z,F%'4X(!_2LS3_`!MX<U"X@AL]5@EDF'R`!@#P
M3C)&`<`G!ZXH\@.BHKG'\;^'4MEN&U)/)9F57\MR&V]2..5']X<>]1W7CWPQ
M:SR0S:M$)(QE@J.W\(;@@$'@@\=N:`.GHKF+GQ[X8MIWAFU:(2(,D*CM_"&Z
M@<_*0?I5J;Q=H,,XBDU.`.8?M'<C85W`YQC[O..N*`-VBN93QWX;DM'N8]4C
M:-65,;'W$L,KA<9((Y!`Q1X7\:Z3XACM!;2,EU<1^:+<J6*+D@%F`P,[3C)H
ML!TU%9-[XBTFQN9[>[OHXIH/+\Q&!ROF$A.W<@_E5:V\9>'[EBL.IQ,1(D6-
MK#+.VU<9'()XR./>A:@;]%9C:]IBZ7/J)NT^Q0,R2RX.%(.#GCL:J7_B_0;"
M>6&ZU*)98FVNBJS$';NZ`'H.2>W>@#>HKEH_'F@/>7T!NV5;18V:4Q,4??\`
M=V$#YB?;K716%Y;ZA9Q75E*LUO*NY'7H10!/1110`4444`%%%%`%'7;0W^BW
M]H'$9G@>/>W1<J1FO%U\(:--X3N;C2=>M?[*GMHM,O[F02RE'20#,6<E26.,
M=!P:]?\`%L&H77AK4;?1M@U":$QPL[;0I;C=GVSG\*\XL_A[KNE^'=4T.":S
MN;2=;5X9%'E?/'(I?<,GDJN<]S22NW?R&WHOZ[':_#33[+2O"%GI]A/#<"TW
M6\LT2%`\BDALYYSFN+UOX27-_+K;V^JQ0&\N1+;'RSF!&W>8O_`MS?G7>>"-
M)N='TR[@O0@DDO9YUVMGY7<D?I70U3=WS=1+31'E.O?#:Y8ZG<6FHVD$,XF&
M)4;$<30I'V[C9FLPZ5H4]Y#XECURQ.DW<+108@<@LEN8F.,=MI/3H*])\>:?
MJ.K>%[S3M(9$N+L"%I'.`B,<.??Y<\5YM<?#GQ%%;W.G0O93V1GDN863]T%:
M2%D90G.!NP>O<TKW33&DM"Q9_"ZYFT5;6'5;9[&9ENUF\IO-,GD",#/]S@'U
M[5J>'_AS?:1JNG2?;K.2RM;YKXDQ'SF9H@A7/3'&17H.BV\EII%E;S8\R*%$
M;!R,@`&KE4W9NQ"UBDSB/BTFFW.@6=EJU[]DCGO82F(Y':0HV\JHC!8$A3S6
M!<?#,WL3QZ=?1QZ3-<G4(C*LC3AS$4"%F.=OS9YY[5O_`!.T+5=9_L&71=_F
MV-[]HD,<ZQ.%\ME^5F!&<D=JYC7/`NOZCXIFU6W6*WCEM6@"&XRRS&(J+DX&
M"XR4X'0YJ%L_Z[?Y%]5_7?\`0Z;6/`S:CX>T#18[Q;.RL9(Y;@VZ`-*T:_+C
M(Q]_#'(/2N<U+X=SVFAW,=[KENEG#:W,"3SKC8DDBN"Q&!Q@]/6J=YX"UR6?
M2WM+&RTZ"WACCV0LK-!(KAFE0Y&"^.3R2.#61I7P\U/6-!OC_9=K:&:VN8OW
MQ^:ZE,VZ-G4CC:`<$^O%7?5OU$NB]#WV,811G/`I:K:7'Y.G6T7V:.UV1JOD
M1XVQX'W1CC`]JLTGN);&%K6K6%GJEM%>6UQ)+&OF"5$RL08A,GGU([&LK3]7
MT+3`9K"PO%\Y1Y&%+>:A?`\O+<+D@XXX(XK8U>UTJ:]VW]VD5Q/&L:QF95+`
M.&&`>3R!6>NC:'9+#+-J)$$*CR!+<($B0,#A>!QG`YST`S20S+AOO#B7,-[!
MI4EO<B61U>:+!/F/ME*X8\Y&#^E6+?4_#\4D4T>G7D=PJQF.+:=Q3:Q5PN[&
M`JOR>>/I3KZW\,"&WDDU)'CC<1AH[A"%+OO&X]AGO4][H/A^]FMGDO8_.$*>
M2?-C;*('^8!@01AVR<?EBA;`5IM1\/I:2Q6UBTL9*F/(/ES2)C"@YSD%AV]:
M2S3198[4QZ86MI+@VDCRN6VN49!C+$[>2N#C&X<4#3?#AFO&M=0B3S4#-*IB
M\M78\$/C.[*$XSCKQTJ=-*M[FUDU"+5'5Q(999IP@`E12JD@``!2<\\\#GBF
M!<OVTKPW:FW%E<S1WOF-(D9,I8*N6+%FST'K6.%\-MI<\YTK4/LZ9><L[[XT
M*#YF._.TKC@'MTK:N;C2M1U#3[)KLW-R]O*4>%U(92`K,<?TKGM8T_PGJ<[6
M5WJ+1LV^!B9(]JE$56&6!`;:1R.>N*26NH+I8M#5='M-7MUM].G59))858YR
M\B*JXC7=SD<$\=*T-4\/VUNL*:;H\4Z.ODR*\S*J)M"$XSC.WC/7CK4LFA:/
M>7$<*W)-W:,\R>7,OF1,^#N]1TX_'K6NFJ:>1,!?VK&#/F_OE^3!P=W/'-.^
MB[@<K;:A8W#SW$D$+7J7DL$,5HY>8,C-&"P+`?=7.#Q5[PA-IDVEG1]/MYGM
M8HOWKO$$1C)EF!&>I).1VI\\.A1VD$8U>*V+327D,RW,8;+NS,5SP5RQ'0U)
MI8T71X)5M[Z-()E5C/)<(5;C:"&SR3@_C2&]]#G8M0T^UU/4I8=-0?9,-9R-
M.["?8PB=B"<94X`/)QCFM+5;JTGTJVUNYL[3[5*18EYV(5(GD`;)_`&I6\-^
M&G6UMX9((IHXRX>*1%EE0\EF.,L"1G/J,U-<+HK:;:V"ZAM@#FX2>.5"%\MP
M22QR,;B!^-/M_7]:`K?U^!GBX\.VLS6<MM(]S"IG<QEW#AE"AMQ;+*W"@$]5
MZ<5>@UG2]+@>T-K?PQ*,2"4F3RR5)"$EC@D#@#CD4R+0](U2[N[H7=S+=*/*
MEG\Q02N%*]!C:,!ACOGU-5[S2M#F\V].M0-<3*83/++`0[!2HR=N00"/ND=!
M4O82(;>ZT:XU/2TM]'NEEF=8]LF5"`1,R,5W8/`X/)'X5OV%E)<:3)8ZI810
MVL>U(8HI&)VJ<J<]01@8YZUF?V=I>B?V8U]J5PU[O#12O(I:0I$05`QC;MSV
MS[YK935]*U#2A.NH6XM;A=F_SE7!8=,YX;';K52ZV$GM<YR.\T'3T-LFDWZS
M,QD>$@NX*8DW,2Y[G/6I=%U"SL[B/3[&"2X2^NI&N+KRPD;.R[SC!ZX(I(-`
MT3P_=1Q![DR3JRJ/W:KAMJ'HJCN/_KU9LM/T*WG2\M]7'DVC!C']IC,2OM"9
M;N"0!WZT:?U^(W?I_78K37WABVW6,EHX`,I:,J3@Q*(SWZE0H'J,5G3WVAV]
MM=O:Z/<RQO)*DGFEBTS`B%\$N>`!CGT&*U=<T?P]'??:]1N'A.H3QS"0S!8]
MT:Y')X`(`SZX%2ZAI^A1VTL<EVQ*B2<I'*I<"63>6`]-QX_K2OU?S&K?UV$M
M[?P_J%U]@6PD38ODHX+(I\H%2BLK9^7<P/KSUK"%SHPU*%)=!N%A3[4I*NQV
M^24BW[=V.58C/7BNET>PT6QU>XGM+Z%KJ1B9(F:+<'?!).!N!)SQG')XI\&B
M:5/<2307;2^>D^U4E5E"R,ID*X&?O*/7&:?F"LB#PZ=#CU9X],MYTG99-L\C
M,PE`*!P"S$G!"?EQ745C:1X<LM)OI;FSW!I,Y4JG!)!)W;=W;UQS6S0^A*"B
MBBD,****`"BBB@`HHHH`****`"BBB@`HKE?'WCO1?`MK:7&O-<+'=.8X_)CW
MG(&3FN+_`.&A?`O_`#UU'_P%/^-`'KU%>0_\-"^!?^>NH_\`@*?\:/\`AH7P
M+_SUU'_P%/\`C0!Z]17D/_#0O@7_`)ZZC_X"G_&NO^'_`,0]"\>?;_[`>Y;[
M%Y?G>=%L^_NVXYY^X:`.OHHHH`\=^!7_`"-?Q!_["A_K7L5>._`K_D:_B#_V
M%#_6O8J`/'_VF?\`D5-&_P"PI#_.O7HO]6GT%>0_M,_\BIHW_84A_G7KT7^K
M3Z"@!U8/CJ2P7PKJ$6K7JV-I<1F!IRI;:6X'`ZUO5ROQ*T2\\0>&Q8Z<2LYN
M89-RLJE55P21N!&0!W%)ZZ#CH[G):E8>&9G:.?Q$D3W]I9PH#"056%V*L?[N
MXMCG'3O5OP'IWA[P[XLNK*WUX7FHE6MHX)&E+1KN\PIEG*'L<*JU!JOA#6X)
M?$-G:1+JL&MQPI]ONI8UDMRJ[#O``R.XVCKFH=$\":SIWC2'4YC]IL8]1:3R
M6D4`*;<()QWW`@@J2>#G'>K3N[DM:?UT$U?P!HTOBF_O+[78XOMURT;PQ0!9
MM\T901&4$DJ1SM(Z@5IS_#:ZFAE)\27,=S,$CE>")H5>)$**I".&SSG.[!/4
M$<5GZ[X!N+WQ5>S)I=N]E=ZE:W<DP=5S&BX=2,YZ\^]9UKX'\50ZMIC%T6UM
MY5\IU8.]JBS%L*3(H`9,`\-QQBIBKI)^GY%2>K9KQ>!=.TYK72$UO;JYEM[R
MU9K?<08%VY9<\J1GJ1UK7?2=)T'P9>^']?U<&.^CNI99RGEDJV6D8`9QMW51
M\>>#+_6->O=1TJ*&.=]-%ND^X*Y?S`2F>HW)E<^]<]?>`]?N;>]%M91VMM-#
M>);6)G4BW\R)55<YQRP)XX%'Q)W\_P"OP0+1KY?U^+.LLO`0>6"^NM6-S<B:
MWF$J6XC5DB4A%V[CR=V2<_A6GXQ\/3ZG?6&J6FKC2YM/27]XT`E&UEP3RPQ@
M#KS7$3^`=;OM2FBNAY:RR.SZBMQSY!B"K"%SGY6Y].,U2T[P+XOGN;F75S&5
MO8YI[B,7`8+.%:.)5_V2I4GZ42U_K^OZ]116WW'4VOPVT\P6+V.HN;6."W5,
MH'\SRY6EWDY_B+&J[?":U,\\BZG/Q(TMH7\QS;L9!(>#)L*Y'0*N>YK&C\`:
M[`LEU"JP:BLML(IQ-DQQ):K&^.>F\'COBH/AO87%QK<KG1'>"VMK2&1FG(5I
MU=V>4$]3R"1U]:JWO:?U<7V;_P!=CL]4\!SZE?37L^L`7,T=L79;4`>=`S,C
M@;ON_,05Y^HIEE\.HK:XGN9+Y+FYGMKB&7SK8-&[S.KEMF[H-N-N>_6N]HJ?
MZ^\?]?<<QHGA,:9X.GT%KZ2994D3S2I`C#YX523A1G@9-8*_"ZS&IVMPU_,\
M$:0B2`F159XTV*X"R!0?]Y6KT6BC=W#I8\]7X=W*65G!%KNU[2VDL8I#9@_Z
M.X`*D;L%A@8;CZ4EO\+[2U54M[^18D+[%:(,0&@$."<\X`S7H=%#UO?J-.VQ
MYY:_#*"!4']I.VTYR81S_HXA]?09_2JDGPEMGD_Y"DYC:W2)D;S,;TA\H2!1
M($Z#."I^M>G44/742TM8\^NOANK:A;W]IJK07EO';QPL;<.H\I'3)7<,Y#GZ
M8IWAOX=#1=5TJ]74P[6,)B8QV_E/<`YXD8,05!;(&./6N_HIW=[A;H<)XE\'
M-K_C[3M1GB,>G6UJ\<["0?Z0Q_U8V]?D)8Y/K5-?ACA8F;67-Q:1PQ64GV8`
M0I%)YBAEW?.2>IR*]'HI+38'KN<[X?\`#":;X<N-)O+G[<MP\KRR-&$W>822
M-N3ZUS5C\,/L%O"]IK4IU-6GWW<T`D\Q)0%(*Y'(`&#GMT->CT4`><7/PM@,
M*PV>K7%O#&MOY8"L'62$%5;>CJV""<@$'T(KL_#&C1:!H=MIT+;UBR2WS?,2
M22?F9CU)ZDUJ44[L`HHHI`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!
M1110`4444`<_KF@OJ5[).K1`M`L2EAR")%?/Z5EQ>%;XSVJW,MFUM:KL0#<6
M<>:'R01@<`?C7:44`</<>#[I6L9+1K(M;.7*2*0K_OO,[#T_6HT\%WBR2[KF
M%HIUW,H.T1O\Y`7Y22HW=,COQ7>44=+!UN<6_AB[B5H+18`<0RQ3[RGE2)'Y
M9V@`YX`X/!W-FKJZ)=W&AW,,KQI=370NMI^YE7#!6QV.WGZUT]%.X[G.:'H,
M]EJC7UP]OOD$A:.('"EF!P,CIQ563PO-)JES.[6QA?[04R#N!E5!SQVVG\ZZ
MVBETL";3N<KX9\-W.E7WFW,Z3(BL$8-@Y8#.1M&>G4L:KS>$KC;`T,EMYL4\
MT^&!VR%IC(`W'H?SKLJ*=R;:6.*_X0^:5II;AK0R3-O*A250F82$+D=,#\3S
M4EMX1ECU".:26W:);EY]F#T,TD@'3T<#\*[&BET2[#>J:[G`0^![Q$EA:\C,
M,B@@@X,;B/9@#;DKQTR!R>/6:+PK>1/(9$AG>ZB:.4^<5",-I1E*J-OW><#K
MBNYHH!Z[G,Z=HMZ]MJ:ZA,OGW,*6XD7N%4C<1[EC^`%5+?PK<M?B[NS9*PA:
M$1Q*2H_=A`W(Z]<^U=C10]06ASM_H5Q-IVD0QO`9;)=CE\X8&)HR1Q_M9K&N
M?!EWO@>TG@41VZV[1?=5QY80GE6QT],X)KNZ*;=[@M-CG-=\/2Z@VG^1,B+:
MA`=Y))VR1MU^B'\ZRI_!MV%TYK2Y@CEM$`(`P';<23RI'?T-=Q11<%IH<S=Z
M%<K8:+%9+:LVGKM*7#%E(V;>"!_2L>T\#W5LCPF[CEAVJ49C@JPB1#QMR1\O
M][OTKOJ*7?S`X2Z\'7TUO'$D]G&]KYC6TP5B[,SALOQV]B<GFM#P;X9N/#=O
M<Q++!.K3GR!ROE0%BVWZY9OT]*ZNBA:`%%%%`!1110`4444`%%%%`!1110`4
M444`%%%%`&=K6A:3KD<4>M:99:A'$2R+=0+*$)ZD!@<5D_\`"OO!O_0J:#_X
M+XO_`(FNGHH`YC_A7W@W_H5-!_\`!?%_\31_PK[P;_T*F@_^"^+_`.)KIZ*`
M.8_X5]X-_P"A4T'_`,%\7_Q->/\`[*"+%K/CZ.-51%N+=551@`!KC`%?0]?/
M7[*G_(=^(/\`U\P?^A7%`SZ%HHHH$>._`K_D:_B#_P!A0_UKV*O'?@5_R-?Q
M!_["A_K7L5`'C_[3/_(J:-_V%(?YUZ]%_JT^@KR']IG_`)%31O\`L*0_SKUZ
M+_5I]!0`ZJVI7T&FV,UY=N4@A4N[`$X`]A5FJVJ6[W>F7=O&5#RQ/&I;H"01
MS0-;ZDUO,EQ!'-$<QR*&4D8X-/JIIL4]O;PV\JQ>7%"BAU<DE@,,,8X'`P<\
MY/`QS;IO<14U2_ATRRDNKD2F&,98QQER!ZX%.L[ZWNP/*?Y\9,;?*X'NIY%0
MZ_;F\T6]MD>.-I8F0-(<*"1CDUAZ1X?N[7589Y/L@BB:5_/C9C+-O`PK#:``
M/J>@Z4D#V1T,^H6L+(K3(6:00@*=Q#'H#CITIYO;41[S<P!"=N[S!C/IFN)B
M\':@#*'G@5S*66=9#DJ6<Y*A!\PW#JQZ4[2?#-[87%O--%IMPZJ(F@DG.S@`
M;UQ$,-QTP?K0@>FQU4FLV2Z5)J*2--:1[MSPH7QMSNX'I@U-9ZC;7=LD\<FU
M'!($GR'`Z\'TK*L=&G@\+WNEE;9))!<+&T;':0Y8J3\HP?FY'/3O7.W/@C4)
M+R62*ZM5BWJ(E.[Y8W`\\'CJQ&1]3FCJ'1'?1W$,KLD4T;NOWE5@2/K68_B&
MP2=(R9]KR>2LHA8QE]Q7;NQC.016;X?\/W.G7\3R+:+#`LJ"6)F,D^]L@N"H
M`Q]6Y].E5]/T?5%ET^&Z@MFT_3B2H,[!Y9`QQ(1L((VX(&>I.>E`=#H9=8LX
M]/2\,C-#(0J!5)9FSC:%')/M1%J]H[[)&>!]GF$7"&,A=VWG=CO61;Z/>+IM
MLZ>4M]'>27JPRMA/F+90D`XX;J`>:9K6DZQJ$C7$2Z?%,T*Q-&TAD7ARW#-&
M1TQ_"?ZT/^ON_P`P_K\?\CHS>6HW9N81M`)_>#@'H:0WL`NXK;?F66-I4P,@
MJ"`3G\17#V?A'4XK)X98K!B\:;\73_-*K`AP?*^4`#I@@\=*ZBWTVZ%]I]S.
M\+-!:-!+LXRY*<@8Z?*:8KNPEMXDT^X+[#.N%9UWPLN\*<-MR/FP?2M);RU9
M@JW,)8MM`#C)/I]:X^?PWJ=SI9L[IK&$1131P,DS-YC2$X+90;<#L-V:C3P;
M=17%HT9M?+5B90K["#YQD#*?+))Q@'[O3&:`NSKY-3L8[F.W:ZA\Z1BBH'!.
M1VJ07UH0"+J`@G:#Y@Y/I]:XZ3PQ>?V5;6KIIT<MNCQF[$IWR`H5,A^3AAG.
M,GG/(HM?"L\FJP7MU#IBPQ((_L\,C,I8(R[LE!@DMZ<`=32*LCKKC4K.WM?M
M,MS$(-P7>&!&2<`9_&IX[B&21HXY8W=?O*K`D?45R\.@73>%YM/(LBPG#P1^
M87154C"L^P$G@\[?0<XS3]!T.ZL]4CEF%DJP"4&2%V:2;>V1O!48Q]3GVH)-
MRTU6RNX&FAN8BB9#$L!MP<<YZ4AU:Q$LR&YC'E(LC,3A<-G&#T/W37*3^#[E
M39R6PL2T.]I8V+*L[&9'`8A3QA6Y(.,]#42>#]0CN#<[=/F._>+5W81#(E&W
M.P\+Y@(X['@=:.E^H^IVD.H6LMG%="=%@E&4=SM!_.J%QXETRWU'["\Y-SYB
MQ;%0M\S*6`X]@365+X=O1IFDQ+'8SRVD$D+P2NRQ$N!\RG:3D8P..A/2HK7P
MA+!=6TK-:R&*1&,A!W-MMVC]/[Q!Z]*?<%L=3'?VKQH_GQIN02;78*P7U(/2
MK,;K(@>-E9#R&4Y!K@H?".IPZ,;%?[/DE_<N+AI#NRFS,>#&?D.T\^_W376^
M'[%].TN*WE"APS,P5]X!+$\':O'/H,4-('N:-%%%(`HHHH`****`,3QIK,F@
M>'+K4((DEF1HXXU<D+N=U0$X[`MG\*R=4U/Q!H#:=/JEWI5]:W-Y#9O';V,D
M#J9&"A@S3.#@D<8Y]:T/'^E7.M>%;NRL`K7)>*5%9MH8I(K[<]L[<?C63KPU
M?Q+_`&7:#0+[3TAO[>[EGNYK<HJQN'(`CE9B3C`XQ[T1W7JONT_X(/9_,[>B
MBB@`KDAJFMZKXCUC3](N--LH-,:*-FNK1[AI6=`^1ME0*`"!WKK:XR"'5-"\
M5:]>1:-=ZG:ZF\,L;VDL"F,I&$*L))$],Y&:.H&IX0UBZU2/4X-06'[7IUXU
MG))`I5)2%5@P4DE>''&3TZUOUS/@?3KRS76;O4+<VLFI:@]VMNSJS1*410&*
MDKGY,\$CGK734^B]%]]M?Q#J_F%8?C369=!\/3WUO$DLX>.*-9,[=SN$!..<
M`MFMRN>\?:5=:SX8N+2P57N?,BF1&;;OV2*^W/8G;BD"*&IZGX@T"33IM4N]
M*OK2YO(K-X[:RDMW4R-M#!FF<'!(XQT[UV%<1KJZMXE;2K4:!?:='!?P7<L]
MW-;E`L;;B`(Y'8DXP.`/>NWIK;7O^%E^MPZ_+_,****0!15:74+.&0QS7=O'
M(.JM(H(_#-,_M33_`/G^M?\`O\O^-`%RBJ?]J:?_`,_UK_W^7_&C^U-/_P"?
MZU_[_+_C0!<HJG_:FG_\_P!:_P#?Y?\`&C^U-/\`^?ZU_P"_R_XT`7**I_VI
MI_\`S_6O_?Y?\:/[4T__`)_K7_O\O^-`%RBJ?]J:?_S_`%K_`-_E_P`:/[4T
M_P#Y_K7_`+_+_C0!<HJG_:FG_P#/]:_]_E_QH_M33_\`G^M?^_R_XT`7**I_
MVII__/\`6O\`W^7_`!H_M33_`/G^M?\`O\O^-`%RBJ?]J:?_`,_UK_W^7_&C
M^U-/_P"?ZU_[_+_C0!<HJG_:FG_\_P!:_P#?Y?\`&C^U-/\`^?ZU_P"_R_XT
M`7**I_VII_\`S_6O_?Y?\:/[4T__`)_K7_O\O^-`%RBJ?]J:?_S_`%K_`-_E
M_P`:/[4T_P#Y_K7_`+_+_C0!<HJG_:FG_P#/]:_]_E_QH_M33_\`G^M?^_R_
MXT`7**K0W]G/((X;JWDD/14D!)_`&K-`!1110`4444`%%%%`!1110`4444`%
M%%%`!1110`4444`%?/7[*G_(=^(/_7S!_P"A7%?0M?/7[*G_`"'?B#_U\P?^
MA7%`'T+1110!X[\"O^1K^(/_`&%#_6O8J\=^!7_(U_$'_L*'^M>Q4`>/_M,_
M\BIHW_84A_G7KT7^K3Z"O(?VF?\`D5-&_P"PI#_.O7HO]6GT%`#J***`"BBB
M@##\96<E_HOD1+*Q-Q`2L?4J)5SGVQG-<QC7)I;>".35H]TR+>$HRJ@\]0/+
M.,8V;LE<C%=9XJU$:7I#W'G/"=ZH'54."3WWD*![DC\\5Q5OXKU::RCO7N4C
MM99DAWB.,",&-FW%F8+\S`#KCGCG%$=[]@EM;N=!XANM0@U[3(;&WOWC\V)7
ME0NT90MAMP"E>!G)9AVJC>:7<W'B`INU%$-^)O,3<%5/*8?*V,`9XXJ?Q#X@
MU&RL=*='@AEN8&D:0M'Y1D"@A-S,!@Y/().!Q66OB'5+2]>WAP7\YV2*5D'G
M_.05!9@>!T"@TMM'Y_H#UU]!$;Q%]@CN+EM3W-Y22HH=2H\ODA51F^]UP#5_
M0IO$?]HO]J5I9E4@I+YL<,B[5P5/ED*<Y)&2>HP*I7FO7D45E?0:Q%=LUO(S
M0QH@`DV@[2.N1SP>>*AU/Q%?S:9*LFIP00LCF&==C&X(91LRI(##)X!SQFJU
M38FT]2:[NO$37^H0(;E[:SG56,#EF=93O(!52WR#Y?NYQBH[B\\0FX@@ABU/
MS&A*R3A)=K?NLA@IC`4[B!R=V<_**V/$FN+H=W8PVKB*2X*L\8CC"REF`)))
M#$_[H)]:SX/$&K)!8&\OH8H[N%)I+AH55;<%B#[8Z#)I=/P'?=_UJ:FNVM];
MR:7+9M?3316TT8.6;,A5=N_`]CR>*R;5->N`[FXU-(TM9FC7;(&\W]V`&+(I
M8\N1QCZXJW8ZM=0>#M$G-^D:SOMFOI5!"KAB#SQR0!SZU2T[QG<FPB-[=P^?
M)-%L"1C=)$8\LZKW&0>>G:AK5_UN%K?UV-31[?5K75[8RW&HSVYG:-Q.2R[/
M))!Z?WP!GWQ6?%/K5]K4MLL6K6EF9HRSL9"0-S[L,4``P%^Z2!D<U0B\1W>H
MWD3I<-*D0EC#?*-W[RVZB-BN1N/>B'5]0TJ0YG=Q.X\VX?'[H&649^8A0/E5
M><?>I]4$8^Z[%J--7GO+%-1&JN\=[$8P(F,1C5VRSD#`/`.3STJ[XJO-:B-_
M;Z?'J)G+.T+PP,RA?(;&&`QG?CCKG%5+/7KV\UC1Q?ZA!"WVH[K:,KAX_(8B
M7<#RI//I7H<<B2QK)$RO&X#*RG((/0@T;?U_78$[2O\`U_6IYUKMEJL<TFQM
M4N$BAF6%MK2;G:'@'`Y&X=^,UIM970T)M\=Y&RZD9F$2MO*;^N`,D?2NTHI?
MU^H=$CS;[/KFFVD?V(:@T4TUP\Z8;]VIN"1MPI()4D\`D]:O:-%K,^J6GVJ6
M]6W,@=W5&CWJ(N`VY0>N,Y`YKNZ*`>QQE_<ZG;:[.8O[1N+031R,R0R;8TW`
M,@7'S\9.4SQG/;.?;76MRV5U).NK1WACS9H(7"L,'._C`;.<!L?PUZ'10M%8
M.K9P%S+JC:@B6,^K1VFU?+FF@G8]_,W)Y?7'3)';&:K_`&G75A7R%U664Q,A
M!BE7;C.91O`!)'13R#CK7H]%`'`F/5KF6017FL6^GI',T,KPN9"<+M+)C<<'
M=@8R:ZSPY)/+H\#74<T<WS`B8MN.&(S\P!`/7!YK2HI^0@HHHI#"BBB@`HHH
MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`,^ZT32;N=Y[K3+&>9_O22
M6Z,Q[<DC-1?\(WH?_0&TW_P%3_"M6B@#*_X1O0_^@-IO_@*G^%'_``C>A_\`
M0&TW_P`!4_PK5HH`RO\`A&]#_P"@-IO_`("I_A1_PC>A_P#0&TW_`,!4_P`*
MU:*`,K_A&]#_`.@-IO\`X"I_A1_PC>A_]`;3?_`5/\*U:*`,K_A&]#_Z`VF_
M^`J?X4?\(WH?_0&TW_P%3_"M6B@#*_X1O0_^@-IO_@*G^%'_``C>A_\`0&TW
M_P`!4_PK5HH`RO\`A&]#_P"@-IO_`("I_A1_PC>A_P#0&TW_`,!4_P`*U:*`
M,K_A&]#_`.@-IO\`X"I_A1_PC>A_]`;3?_`5/\*U:*`,K_A&]#_Z`VF_^`J?
MX4?\(WH?_0&TW_P%3_"M6B@#*_X1O0_^@-IO_@*G^%'_``C>A_\`0&TW_P`!
M4_PK5HH`RO\`A&]#_P"@-IO_`("I_A1_PC>A_P#0&TW_`,!4_P`*U:*`,K_A
M&]#_`.@-IO\`X"I_A1_PC>A_]`;3?_`5/\*U:*`*%IHNE6<ZSVFF6,$RYQ)%
M`BL,\'!`S5^BB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"O*
MO@E\/=7\#ZEXIN-7FLI4U2:*2`6SLQ4*TI.[*C'WQTSWKU6B@`HHHH`\=^!7
M_(U_$'_L*'^M>Q5X[\"O^1K^(/\`V%#_`%KV*@#Q_P#:9_Y%31O^PI#_`#KU
MZ+_5I]!7D/[3/_(J:-_V%(?YUZ]%_JT^@H`=1110`4444`5=4U"TTJPFO=1G
M2WM8AEY'/`JAI'B;2=7N%M[&Y=IVC,PCD@DB;8#@G#J.]5?'VBW.N:$L%@T8
MNH+F&ZC67[DAC<-M;V.*Y+Q/X?\`$NNWQOWTG2PS6:VKVMQ*)D.)@^<8`/`S
M@\4+^ON_S';3^N_^1ZA5/5=3L])M1<ZA,(8"Z1[B"?F9@JCCU)`KR"R^'>NQ
M?V69X+:22&WFMYF\Y<+&V_:L.1F-OF`R#C'KBMRR\&:O'\.HM$:&RBN([^*:
M-(]J`1)*K?,5`!?"G)`YII:_UW$SL=;\7Z%H=^EGJM\+>X9!)@Q.RJI.-S,%
M*J,]R16K:W]K=S3Q6UQ'+)`5$BHV2A(R,_4$&N$\:^'==OO$-]<:3;6DUM?:
M6=/=YYMOE%F.6VXYX-8P^&=ZVNQM.89;&%HS'(TAW92V6-7(]0ZYI+;7^M1O
M?^O(]=J"VO+:Z>X2WFCE:WD\J4*V=CX!VGT."#^->,:7\-]?M8HC>0V=W#'-
M$T^GEPL-YM#`R-URQR"2PYP,U>N?AY>I?7[VVC:6]E-J/VPVNY46=#"$$;`+
M_`^6&>.<T_Z_+_@B/8#@C!J*UMXK2W2"W0)$@PJCM7CI^%]_+87_`/:4:7MX
M;*U@MG6XP59"^\'<""N"HP0<@5W_`(%TBZTJT9+_`$^PMKHQ1+)-:<"8JN/N
M@84#H*+;B.HHHHI#"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`/'?@5_R-?Q!_["A_
MK7L5>._`K_D:_B#_`-A0_P!:]BH`\?\`VF?^14T;_L*0_P`Z]>B_U:?05Y#^
MTS_R*FC?]A2'^=>O1?ZM/H*`'4444`%%%%`%74KZ+3[833!V!8(J1KN9V)P`
M!5*'Q#8S36L4?G&2XC>1!Y9X"?>!/8^U/\10-+9PS1S00R6LRSJT[;8SC@AC
MVR">:RK.VCM7TTM?6<EQ")IFC609?S!GY1W''6ET8'1V=S%>6L5Q`VZ*10RF
MJNIZO::9<6,-VS*UY+Y,1"Y&[&>3VIOANT>RT:WBD8&0[I&VG(!9BV`?09Q5
M#QAI\-]%;FYO+>T2+>5DE<+A\?*PSZ$`_A3>C!:EM/$6F&_O[1[E(I+(H)FE
M(1`6&0`QX)Q5F;5M.ADV37]I&_!VM,H//3C/>N2L_"=_!<PZBL]E=73+OE60
ML(Y9&W%CG!X&[Y?85/IOA(6;6D4LUK+)"\,G*_,RQQ[.GUZ4`_(ZBRU*TO`@
M@GB,CH)/*WJ7"GH2`:CTK5(M35WMHIQ"#\LCIA7Y(^7UZ5@^&-%FT5XYFN+1
M+2.W6*=TE+"5T55W$$84C:1P>0!GVMZ':SK?W-[:M8"TG(#16T[.A8$Y?I@-
MT&!U[FF[7T!Z%ZZUVRM9[B&=I%FA:-2FWE]_W2OJ.",^QJW!J%G.FZ"[MY%Y
MY212..O0]JP?$NF6.IZK;M)=6<5U!!-&`[CS%W@8./3@_K5`^&M3\UKN%M.2
MX>,P^4K,(]IC"[L[<[L@=NG>IZ!U.KCU.PED=([VU=T4LRK*I*@=21G@<BI+
M.\MKV,R6=Q#<(#@M$X<`^F17$R>#IX-$,1DB:5?.9S$A8N&3`&._('%;?@V"
M[2/4+B]M([1KBXWK&@(XP!GD`]O2J:UL#.BHHHI`%%%%`!1110`4444`%%%%
M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`
M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4
M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11
M10!X[\"O^1K^(/\`V%#_`%KV*O'?@5_R-?Q!_P"PH?ZU[%0!X_\`M,_\BIHW
M_84A_G7KT7^K3Z"O(?VF?^14T;_L*0_SKUZ+_5I]!0`ZBBB@`HHHH`Q_%$+R
MVEJRP/<1PW,<LL2+N+(#V'?!P<>U<S9VLKW.G07>GW%O:VKM=-)Y/WL[MD>[
ML`&R?P'K7?4'D<T!_7]?>9/A-)4T"T$X(.&*`]0A8E1_WSBJ_B5=MYIL[VDU
MU!$TGF+%$9#RN!P*WJ*'J!YM]EUR*:RL+>VO[9)'<&>.=]D4;F0JNT#:"H*#
M.<Y'%/C3Q'<26]Y>1ZA"DP)N((V(:-0RKM7!R"=I;CG#&O1J*=QW.(L-/NE\
M'VJ-;73".^EGD@FR99(O/=AD'DD@@X/6NJT^ZBE5$AM9X%8,V'@,8&"!S[G/
MXU=HHN(XR2UD72M4T^2PN&OYFF9;A(BP<,6((?MQQCMTJAJ::S86<MM:6VJ7
M(23,$HN9=R#RDZXR7^8MPWRC!]J]"HI`>=7$6LVEM!//<:DL4NYKS,S951-'
M@)S\I*%_NX)^N*Z;P/,]QH0D:2YD4S2>6URQ9RFXXR3S6[+%',A25%=#U5AD
M&EC18T"1JJJ.`%&`*%M85A:***!A1110`4444`%%%%`!1110`4444`%%%%`!
M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%
M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444
M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`>._`K_`)&O
MX@_]A0_UKV*O'?@5_P`C7\0?^PH?ZU[%0!X_^TS_`,BIHW_84A_G7KT7^K3Z
M"O(?VF?^14T;_L*0_P`Z]>B_U:?04`.IDTT4";II$C7IEV`'ZT^N:^(^F)JW
M@K5K8V8O)3;N8HO+WL7QQM'K2;LKC2N['0PW$,^?)ECDQR=C`_RJ2O%5T'6-
M&U"XO/#]I?69BL-.58;>`K',^^3S%88YP#D^F<FNB^'-UXIN=6U-?$,=S'"(
M3E)UDP)=YQY9,:KMV]E9N@]:IJSLO,F_Z?B>B0W$,Q80S1R%>H5@<?6I*^<_
M#&G>)=+GU";3M)U*UD,7ES2Q64D+!/M66(W#][)L)(*]`/<5OZMJWC*'35%E
M9^(9I5F=[.4Q.I>(.N!*@C))QGA]G'OQ0E>P^Y[:2`"2<`4B,KJ&0AE(R"#D
M&O%]0'BW[,TE]/X@>SN)[Q'BMK9G=,9$*[0I.P^O3IDXK;D76=/\#^#K>./5
M+:V2W1-0^Q0,US%B+Y1L`+?>X.!2Z7]/QN.VMO7\#TPR()!&742$9"YY(^E,
MCN8)698IHG9?O!7!(^M>:^`])UF7Q9;ZOXDBNQ??V3&K-(/D60L<KZ!L`$@'
MK7(:1HFH"W5--T34K/4H7U%[VY:U>$31NTGEJ&('F$Y4C&<4/3\02O\`A^1[
M\"",CD4$X&3TKQ"-?&MKI$\T;:SY4<MM;BV".I6'[/&7=,(SD[]P.%/>K./%
M>I:=JEKKCZREV^G)]A%E#(L,K;#OWML&U]W9MIZ8%-JU_P"O,4=;'LW7I17C
M=M<^*TGMX[1==W*;9;5);=Q$T'E_O3*67APV>&P>F`:FT=O%MKJ?AF2\N-:O
M5N<&[M7MW00DL?F:0+MP`/N,0>>*+:V%TN>O45Y7XX;Q<FMZO<:1)J9L86M4
M2"%2%:-O]:R$(S%A@?=!(R>*H6=[XU,-S]K&IF]%@QTP0V\GE228?_7%D7:P
MXQO"Y.*2U5RK'L=%>,>9XPNI4BM)O$"::2Y6::!HY]P@)((*Y"^8`!D<]!FG
M61\:3)9VUQ/K:+,]N\TOE$,FZ!C(N=O`#@#V/%.VXEJ>RT5X:MYX]@TRV\Q=
M9F6:"VEN6,;K)&Q5MZKMC9A@A<@*2*T4?QNSQW4LNI>?#%8@0QQ,(96;<)20
M5!Z8)X&/:AH#V#>N_9N&_&=N><4M?/\`M\527?VYCX@BU1-/9+B633YG42^>
M"8HBB$[2HX*Y`'/K79>,=6\0:?X0\/:C9"YM[^0I!/9RN"Y,J[03ZE6(-%M!
M];'IU%>.W#^-X;V6VADU::_29TSY1^S-;"'Y7#XV^87[9SGMBNA\'7>N:PVL
M1W@U2T3[%;QP275NT)$VQO,9=P&?FQ2Z7%UL>@T9&<9Y]*\:CO?&MPD=SJ::
MS:V"W(M;A+6`M/M2)L2JJ@L5>3&2`>/:J4R^-+4W%\T.L/J=QI]N-J*Y0`2G
MS/NJP601\XP3DG`/2F![A+(D2%Y75$'5F.`*C-W;A48W$.'^Z=X^;Z>M>7Z_
M::[K7PC>VN[>:YU"2[BV(\,CN8Q.I!=61&.%ZY4<"L_Q!X>GL[O4(=4T274A
M+IP@TTZ9:-Y4,V6S@`GRCDJ=Q(''6D]/Z\K@M?Z\SV$7$!F,(FC,HZIN&[\J
MEKPCP[X9UZT^(%OJ&JV,LBI=0K-=1P-YC.+55+;^\>X$'WK<UW5/$#_$#4[3
M2)]5D-O<6HC@BB+6RQ,F9-[8P#W&3]*;TL"U/6Z*\1A;QQ;6-F\]QKTUS/:+
M-`JVY(%R7PT<N%^5`H!^;`Y/-5[+6/&EXMS)H\NJW5TLU['<AX3Y"(KX3RF(
MVEQ@C`)/'/:BP'NU([J@R[!03C)..:\8FOO%T<D$ML=>N+!;W$,$MK*D]Q&4
M3=O?;\@5BV-^`1GGBJM]/XHU?4;F%]-UM=/$]K,BW,3R%)%N1N*_(H`"\X!8
M8&<T):I`]%<]Q9E12S$*HY))P!212QS('B=70_Q*<BO._"=WJ@\/>(O^$BL]
M3U*.%GV>9;R*UVF/NI$RAAZ8'![5!X*%SIWPYU>Y@TW4X+R5Y9Q8Q6KP20EN
MB1*Z\X'<`\YP#2[^@_\`.QZ;2,ZJ5#,`6.!D]37BMC+XTU&`QR-KMG%&EX\;
M;'WMA%,0+,BDY).,J">E+9_\)+J7BG0I-;M]9,L5[%+L^RN+:.+[/RQ;&`V\
MD$$Y]J:5W83T_'\#V83PF8Q"6,RCDIN&X?A4E>7ZK!*/BK;:A;:5=M;VD<C7
M$T.GR(SG9Q^]/RR@\`*O.:],MIA<6\4P21!(H8+(I5ER,X(/0^U):JX/1V)*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`K-EUW2H=732Y=1
MM4U)P"ML90)"#T.WKV-:5>:^(/"_B"[\7>)-2TFY>R6?3X(;9QL(FD7S,@DY
M9<;ASQU]J0TKGI5!(`))P!7D&C^%/$4VO:<UW#J%EHB7/F26[WP9TQ`06)5S
ME6DP0`3[@5Z1XN&HGPSJ*:)#YVHO"4@3<%^8\9))`P,Y_"G+1:"6KL7=-U&R
MU2W,^G74%U"&*%X7#`,#@C([BK1XZUX'/X>U[P78""_$#>'Q=P7$QM;I;82?
M(RL@+N.=P5CD@'GZ5-HFG^+]0LO#=S9Z;<^4DZ2O=27?S>29F+*0T@_@/]UL
MCH1Q3MV`]S@FCN(EE@D62-AE64Y!_&AIHUE2-G42/DJI/)QUP*\1T3P3XHL]
M-A9X+V&[@:V6-(KU`%C&[S<#?MS@CK5_P?X2URSU[1+[5=+N9%M))HO-DND,
MVPJNV20"0KG(.0I/TH2N[`]#UV[N8;.VEN+J5(8(E+O([850.I)[57AU6PF%
MF8KRW<7B[K8K(#YPQG*^O'/%<[\3]+U;7?#@TG1D0-=S(D\LA&V.('))&03G
M&,#UK@KGPGXDCT[2K&XT:2[ATNZNEB^PW20AH70F,KND!`#-MP3G"TEU_K^O
M^''8]IFECAC,DSJB+U9C@"B66.*)I975(U&2S'``]<UX;>^"O%EY!<V]];7-
M]YEC&)))[I`HF0)A8L2<@X.=ZCGG/-6-=\/>+M1U&<6>B36ED]M-`RM>(WF*
M8@$!S*1D,!T48]30T)'MBL&4,I!!&01WI:\N\&>&->TS6]*O+I+E<SW2W>^Z
M#J(2H\H;=Q'4<8&17J--JPDSQWX%?\C7\0?^PH?ZU[%7COP*_P"1K^(/_84/
M]:]BI#/'_P!IG_D5-&_["D/\Z]>B_P!6GT%>0_M,_P#(J:-_V%(?YUZ]%_JT
M^@H`=1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`5!
M/:6UQ+#+<6\,LD+;HG=`QC/JI/0_2IZ*`"BBB@`HHHH`****`"HXX(8YI98X
MHTEEQYCJH!?'`R>]244`%1V]O#;(4MXHXD+%BJ*%!).2>.Y-244`%%%%`!11
M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%
M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`
M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`'COP*_Y&OX@_P#84/\`6O8J
M\=^!7_(U_$'_`+"A_K7L5`'C_P"TS_R*FC?]A2'^=>O1?ZM/H*\A_:9_Y%31
MO^PI#_.O7HO]6GT%`#JJZG+/!9R2VWD!T&XF=B$`'4DBK54=:TU-6L3:RSSP
MQLP+&$KE@#G:=P(P>])C0FA7SZEH]I>2PF%YHPY3TJ_5>UMF@X-S-*H14"N$
M`&,\_*HY.1[<#`'.;%4]]!&=X@O+C3](N;NUCBD>!#(5D)`(`]JJZ3K\5Y/'
M;2(ZS/N"NJGRG9?O!2>N*U-0M([ZQGM9BPCF0HQ4X.#Z5G6/A^VL[Y+E)[EU
MC+-%"[`QQLWWB.,Y/N3C)QBD@>VA%?>)K6RNQ:SVU[Y[N$C41`^:3GE>>G!J
M*+Q=ITDJ*L=UM)17<Q?+&S,4`8YX.X8JA=>!;<ZI'?V5]=07'V@3.W[O('S$
MX.S).3_%GCBK%OX0BBOW=KNX-F?+8P[E_>NK%]S_`"]=QSP1^7%"VU&[="2W
M\9Z=/:Q7"07HA=$DW&'[JOPA//&>U2'Q?IFU6C\^56B68E(\A49=V3]!@GZT
M)X3LHXK:*.>[6&&**%HPZXF6+[F_Y<\>V*A7P3I:(HC,RL)Y)PS!)/OGE<.I
M&T```8X`'-/0'Y&[?W\-C9&ZEW-'P%"#)8GH`*R/^$ML/.\HQ7:NO^MS%_J?
MFV_/SQS]:NMI;W.D_9-0NI)9-Y<31@(R?,2NWC'RC`Y'..:JQ^%K)4N-\UU+
M)<`":5V7<YW[L\`#.>.!C`Z4EOKL+H6]7UJWTDH;N*X\E@/WRIE`3P`3GJ:3
M2-;M]4AEDMXKA#&JN8Y$VL5894@9[U2U_P`)6.MW\5W=RW"R1A0`FS&%)(P6
M4D<GG!&<#-7H=$MH8;B-'F`F@2W8[AD*H(&..O-'3S&9U[XNM8+>;9:WC7<:
MNS6YC^90H!);G@?,OYTU/%]D\%J^'#R`&12A.P<Y''?@XJ*V\#6%M!+';7=[
M"T@=7DC\I"48*"N`FT#Y5.<9XZU;@\)V$$TLT$ERDKR)+NW`[612HP",=R3[
MT"_X/_`%7Q78-'%)Y=UY;JKL^P%8U8X4L0>`:2U\6:?<F,".ZC,I41"2/!D#
M-M!7GIG]*BC\'V2;P+J]VRL&N$W(%GPVX!@%X&?[NWWJ0^&H1JFCS+@P:8CB
M/<Q+LS#'/;`Y_.CJ`J^)8UU:[LI[:=?*F$,<B+E78H'`SZ]>*1O%=GYC0B*Y
M6Z7?NB=`"A50QW<^C`\9ZTZ]\+6MY=74LUU>[+A_,:%74(K[-FX?+D''OCVJ
MG;^![""U>V2ZN_(>8SM&%B4;MH48VQC:`%'3'OFCH/2YKZ+K4&JM,ENLF8<"
M1B,+N(!P.<]^XK.U?Q0VGW]Q;+8SR^2]NI91]\2L1\ON,58A\/FUOXKJTOIU
M90L;!U0@Q#^`84>W)R?2I[S0K>ZU(WCRSJQ,1,:E=I,;%E/3/\1'6GIH)>9#
M;>)["XGBBC$^7*JS%,"-F)`5CV)(-27?B"UMI9T:*Y=86$;2(F5WG`"`YY8D
M@?C4%KX4L+74UOH6E$N=S!EC8,<D@Y*DC[W\)':I;OP]!<R7!^U7<4<[K,T2
M%-HD&"'&5)!!`/7''2D!3E\::?'*T9M[YI$`\Q5AR8R7V!6YZEJD7Q?IYEV&
M*[4#;YCF+Y8MS;!N.>.:?#X5LHWFD::ZDFF,;2R.RY<I)Y@/``Z^@QBJP\(P
MG4[B5[NX^QRA"UN&&)"'+_-\N<9]"/0YH&[="<>+;!A%Y<-Y(\SA8D6+EP06
M##G[N%/-267B:TOTE:P@N[D1JC'RXQGY@"."0>AIFE^%+#33!]G>7;`^^-=L
M:[?E*XRJ@D8;N2?>JTW@FPFBBCDNKQDB18XP?*(55Z`C9AO7YL\T"$_X3*U-
MP1Y4D=J%B?SY%P"KJY[="-AJ>3Q?8I(D36U]Y[C<(O)^;;M+;NO3`/Y5''X*
MTU+>&W:6Z>".-(C&S+B0*&`W87T=NF*L0>%K2.Z6YEN;RXN%3RQ)*ZY";2H7
MA0.,D^N3R3396A:O==M;6WMI=D\PN$,B+"FYMH&2V/0"H]&UHZGJ&H1QP[+2
MVV!)6_C+(&S],$4MWH$$]K:0I<75N;:,Q))$RABA&"#D$<CV^F*EM]$M;:VO
M((&E1+I0KX;E0$"#''H!2?6Q*\S`A\9N]EJ5U):*D5DZRGY^7M6R!*/?Y6X]
MJNP:UJ5P^EM';6JPW^]DW2-N50NX=!C)%.?P9I'VFTE@B:W2%!&\4(54N%!!
M42C'S8(R.1U/4$BK]GHEM:&T\IYBMJ\C1*S`A0XP5Z=!GB@&)I>KB[NY;*6!
MX[N%=TP&"BYZ#/7D>WK5>U\3VMUY@M[:]=ESM41#,@#["5YY`-7?[*C.LC4G
MFF:58VB1#M"J#C/1<GH.I-9MWX1T^ZMHX'DN`B;L<JV<OO.0RD'GL1_C0'09
M_P`)EIYF2**WOI6<HH*0Y&YLX7KU^4_E3V\8Z6L2RDW'E%`V_P`OC<1D)_O8
M[4[3/"=AIT<*PR7+>4Z2`NR\E0P&<*!_$>E0+X)TM68JTV&0(P(C))`P&#%=
MP(]B.E#`LV/B..:WU2XN;>:VBLIA%M=?G;*J1QZDM@4UO%VF)+'%-]HBD??\
MKQX(V'YL^F.I]C4B^&K5M/U"TN;BYNEOI/,EDF*EMP"@8PH`QM'&*JMX,TZ0
M1>=)<2-$&5"-B8#$[AA%`Y!P>.@'UH'H68/%%G/*L,,%VURW/D>7\X7`.\C/
MW?F'-0W?BRUCBL'MX)YS=F,J`N,*S[<GGUI;'PG:V#1/:7=U#-'E1(B0JQ0@
M90XCP1\H.2,^]-C\(6D;*1>7Q$818063$(5]X"_+Z^N:>EPZ!_PF&G16[O<M
M(KI($VJAR<AB"!W&%;\C5\:[:?V6]\RS*B2>4T;)^\#[MH7'KD@5GW/@O2KE
MPT_GN1`]O@N,$,V=Q&,%AE@#Z,?6KRZ!;+H_]G&23R]XD$BJB.KA@P8;5"Y!
M`/3ZYI=!=3%U;QFUOYQLM/FE$%O++*)!M960@;?S//M6A9^)H7+1S12&>/)F
M$296)0<$L3T'7\J?_P`(M9&&X22:ZD>XCDCED9EW/O()/`P#P.@Q[4'PQ:"X
MGEBN+J(W&X3JK*5E4G)4@J>.HXP>>M'0.I#_`,)CI^X*8;T/Y;2LOD\JBJ&W
M$9Z8/%;>FWB7]E%=1(ZQR#<H?&2/7@D5DZ;X6M-."FVGG61(VB1PD0*A@!GA
M`"1@8)!]\U?T?2DTN(QPW$\D9+,5DV8W$Y)^51CZ#CVIZ"U-"BBBD,****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**
M**`"BBB@`HHHH`*Y'7;B^O?&]CHEMJ-Q86IL);R1[94\QV$B*!EU8`?,3TKK
MJYK6]'U$^)K/7-':T>>*UDM)(;IF12K,K;@R@G(*],=Z%NK[:_D_U#H_ZZE?
M0+F]M?&>I:)<W\]_;Q6<-U')<!/,4L[J5RBJ"/E':NMKF]"T?4$\27^MZNUH
MMQ<6\=JD-JS,JJC,V2S`$DEO3M724^B#JPJIJ]RUGI5[<Q@%X87D4'H2%)_I
M5NH-0MA>6%S:LQ59XVC)'8$$?UJ)7Y7;<<;75SSR5]8A^&__``D__"0ZBU\N
MG"_\DI#Y);9OVX\O=M[?>S[UZ)8RFXLK>9@`TD:N0/<9KAY/#OB27P;_`,(P
M[:0+0V@L3="23S/+V[=VS;C=CMNQGO7=6L(M[:*%22(T"`GO@8K25KNVW0E7
MLK[]?P_X))1114C.0UNXOKWQQ9Z);ZC<:?:_8)+QWME3>["15`RZL`.3VI_A
MZZO;;QEJNB75_/?V\-G!=1RW`02*7:167**H(^0'I4^M:/J7_"3VNN:.UH\T
M=J]G)#=,R*5+!@P903G(Z8I=!T?4(_$>HZWJ[6JW%S;Q6J0VK,R*B%VR68`D
MDN>W:G'9?/\`-V_0)=?E^E_U.DHHHI`>._`K_D:_B#_V%#_6O8J\=^!7_(U_
M$'_L*'^M>Q4`>/\`[3/_`"*FC?\`84A_G7KT7^K3Z"O(?VF?^14T;_L*0_SK
MUZ+_`%:?04`.HHIDTT4";YI$C3IN=@!^M`#Z*1'61`\;!E(R"IR#2T`%%,FF
MB@3?/(D:?WG8`?K2QNDB!HV5U/0J<@T`.HHJ-[B%`2\L:@=26`[XH`DHH)`&
M20`.YI%=6SM8'!P<'H:`%HHHH`***165L[6!P<'!Z&@!:*`0<X(..**`"B@D
M`9)`'O10`45"]W;)&9'N(5C!*EBX`R.HSZU*I#*&4@@\@CO0`M%!(`))P!U)
MJ!;RV==R7$++G&0X(S0!/1102`"20`.I-`!14?GP^6C^;'L<@(VX88GI@]ZD
MH`***0,I9E#`LO4`]*`%HHHH`**;(Z1H7D940=68X`IK3Q+NW2QC:`S98<`]
M":`)**@CO+:1RL=Q"S`XPK@G-3,RIC<P7)P,G&30`M%!X&3TI%974,I#*>00
M<@T`+1110`44B.KC*,&&2,@YZ4I(!&2!GI0`444CLJ*6=@JCJ2<"@!:*"0"`
M2,GI[T4`%%([*BEG8*HY))P!2T`%%(S*I4,P!8X&3U--\V/S/+\Q-_\`=SS^
M5`#Z***`"BBB@`HIOF)N"[EW'.!GFG4`%%1O/$DBQO*BNW12P!/;I4E`!139
M)$C`,CJ@)P-QQD^E.H`**:TB*0&=02<8)[TZ@`HJ-9XFE:)94,B]4##(_"I*
M`"BD#*7*A@6`R1GD4M`!1110`44CLJ+N=@H]2<4(RNNY&##U!S0`M%([JB%W
M8*H&22<`"F03Q3J6@E210<$HP(S^%`$E%%%`!12*ZL6"L"5."`>E+0`45$ES
M!)(\<<T32)]Y5<$K]13XW21`\;*R'HRG(-`#J*@6\MFC=UN(2B<,P<87ZGM4
MBS1,4"R(2XRF&'S#U'K0`^BFK(CLRJZLR'#`')'UIU`!1163K/B"RTFZM[6<
M7,UW.K.D%M`TSE5QEL*"0`2.?>@#6HK*T;7K/5KB>W@%Q%<P!6D@N86BD56S
MAMK`'!P>?:M6@`HHILLB11/)(P5$!9F/0`=30`ZBN7'CG23:"\\K4A8$;_M9
ML91#L_O[]N-OOTKIU8.H92"I&01WHL`M%%%`!161K'B&RTJ[@M)Q<S7<R-(D
M%M`\S[1@%B%!P,D#-.T;7K/5I[B"W%Q%<VX5I(+B%HI%#9VG:P!P<'GVHW`U
M:***`/'?@5_R-?Q!_P"PH?ZU[%7COP*_Y&OX@_\`84/]:]BH`\?_`&F?^14T
M;_L*0_SKUZ+_`%:?05Y#^TS_`,BIHW_84A_G7KT7^K3Z"@!U9^NNJZ=)NC,A
M/"C[*UP`>Q*+R:T**'J!B>#TDM]$M+2>*6.>.(,V^,J.2>G8'C[O49%;=%%-
MZ@97BJU-YX=U"%8?.D:%@B;=Q+8XP/6L+0DU&+5XHV2^1091.KJ1`$P/+V=L
MY].>N:[*BD#UL>=S-K=JFFI'#JTUQ+<*996ED*JK3X8%`I7`3/WBN!C&:@M]
M'O9X8+2:+4?)CF7?OWC_`);L2<GJ-N#Z5Z713$U='`V,>JZGX2UU+J6XEDC5
M[.#8^6E\O(\P$=V_I40M-8M!?76E_P!H;[B>0B.3<!M\E-IP1P<@\XSFO08H
MHX8Q'"BQH.BJ,`?A3J0^IQJ3:E%X8E9X;^XD:XQ&BR3)+&G&<MLWD9W'A>A`
M]ZYF'4-=EL;N1Y-6CU&%(2RD,(XU\@,^<C`;))YYSBO6*88HSYF8T_>??X'S
M<8Y]>*!K0\[M9-5>&&0/KC:8T:DMM?S_`#?+/MNV9Q[9]J?%;^(9%D>9]0BE
MC@FD41DJ'ES'LSCKQNX^M>B*`H`4``<`#M11UN3TL>;RV&L">\2WDU:(C[9.
M"C.%9SY?E8/0]6P*FNT\007(@BDOS`&;RIF,C$/\N"VU6++UX.!UYKT*B@IN
MZ/.KJPUA]/`G?5)0SQ3R#<Q(*W0)"@<_ZL9P/2M;73J9U?%M_:`!,'V;R0WE
MXW?O/,[#Y<]?PYKKZ*=Q=+'G]SI=Q:^%=*B2WE,B74DDHDMFN2N=_)0<GJ/S
MJ.T?6[+3+.Q2VU&.4)#M"HSJBB'#`MC`.X=/6O1**72P+0Y#2=/U!!?_`&J?
M4)A]@C6-9Y"P:1E<OQW.<#VXK$O?#^HV^G0M%&9)+A%$L,$!14"I@9&3\V3R
M>^!QQ7I5%.^MQ)6MY'EDM[K!OXH+:74YKD0,U]&&<(/WR#,9`/\`"6^Z#Q71
M>'[;5)+;5Y-2FO)6:(1P))O"D&,9(5@#G.1DC-=7!:V]N[O!!%$S\N40*6^N
M.O4U-2Z6&G9W/*X-'U1-/TBP>QNC:Z3);W,6%QO9G7@?[B^9G/\`>]J?]M\0
MYQ$E];?:+E;...>5V*B1!F0%U4ML(SP,#G!->HTQXHW='=$9TSM8C)7Z>E.X
M'GUG%X@N=0MXKF7488OM>+@*TGW!YF"&V@!2`@PI-7=4L=2E\2W1MS?0VSHS
M%X"5#L(_EY'7FNWHI/8=];G*^&[B[$CR:RNI?;6(&WRG,(4@8Q@;<]<]P<U2
M\53ZJ=<6&PBU&"(@*US%YLB`%3DB-5V\''.X-[=Z[>BAZDI61Q.I6VHZSX9T
M_36LY#]I<BZ^T2.H\M2>K%2PW8&`1GGVK*^PZM=-ILESI\P?3D$.H``XO%5\
M*J<?.!C?GW`[FO2Z*=];CZ6.9L=)A-UK4LEKY.ZZ6:!UBP>(DPRCOA@>/450
M7^U7\-1JB7CW4=V@\QU??(@;E]K<J/;M7:T4O^!^`'G;0:Q#!!%=2:S)9M;J
MTS1EWE\TQ-QQSC=U`[XK*CD\06.@S>>=0M3#:@#`?.W:H&T;=@?.?XL]>*]9
MI'19$*R*K*>H89!H[ATL>>,VO?;T6W.I#3R_^CR3"7>#N7_6*%)*]?O8[\T_
MR=<A-L9)=5>WED9KK!9G5?-;`0#D<;>!VKT&B@.MSR[1H]?@3RHTU&"+]Z\!
MD63+`R2D[U"D;CE#EB*U8++4HM5T\W+ZG-;1&&0LS.QWLC!\X[9"Y'09KO**
M8'!:W'KB7MY-`^H&&2\9%".^(XQ"NPJJJQV[\YP.>]9>IW.K&\CM?/U&34GE
MFWQ1AC"8PN4P,8S]WWSG->HU"EK;QSO/'!$LS_>D5`&/U/6A.U@N>?31:N9H
M98QJ<\MO/+Y<S+*H?=$VW*$<`'`S]W^5*D?B*:)'ADU`%+>XD2-FD'[T"+8K
MEE4GDR$<8^N*]&HI`M'<\NU*+6;K2KR*X&KR0R6Y6VBC65F\S=R)"RJ2,8QD
M8QFMK5)[]_%,\%E+J!EC>UV(F[R`A(\S=V'R[NO?&*[>FA%#LX50S=2!R:=]
M@/-;U]4N[[2%NX-:$%JZ?:'BA<'?B0$@@9(Y7D=C34M_$4<WGI#>>8Z#>^SY
MRG_Q>S/_``*O3J*$[!U3.0\0SW,'AR+^RK?5KAR7PQ>9)5(!QN^4L>>@(Q[B
MJ$,FK/;*U\-76[-Q_I"PI)M$&?EV8&,XVYQ\V=U=]12#H>?W3:SOE^PG5S,)
M"4$BOY?V?8-O7^//_`LY[4.VM:AJ5U+&=6@M469H5*O%N8)`%X/49\W`[\UZ
M!10M`/.;BTU=#=+:C4DF=Y79P&XW!-NT_P#?72H==N-4T\7R7%UJB1H"+%HV
M8LS>9_&>XQMP3QUKTRH9;6WFE26:"*21/N.R`E?H>U"T:#HSD?$.GWA\0R7M
MI'<LVRU0,N2H`E)?'X8)J@FFZVUO8[KS6`_DV@D_>MG<TH\[/N%)^E>AT4T[
M?>#.-DL+^\L=%%RMR\UO?RL=Y/W1Y@0OZC[O)]:S].BUNYNM,C>76(X#Y9O3
M*60^:`VX*?[F?3CIBO0J*$P>IPNM:5<W/B.8*-0$<ES;2"2,MM55#AB#T';\
MZ31FU_\`MJVCO3=K$A"JS^85=`6!W`+MW'CEF':N[HI`SSZZTV_MKW49;8WL
M/G7$SF58WD)&(]OW?FP>1Q_2I8[G41974EW9ZR;T[1%`DDJHL9`YWJIY'.>"
MWMTKO**25E8.IP&E#5FTO5;RY%S:71LHC')+D-N1I3@E@">,9R!UJ'3KCQ#-
M<6=S<"[59U2X559V0!B2\9"J5SC`!8C'&*]#EC25"DJ*Z'JK#(-.````&`.U
M,5M+'GWAIM;O?$,7VR/5+33HM[A)))"&;;'@,S*I(R6XQCKUHU-?$$^J7<<;
MWT*&YC7,1DP83+'RIV[5PN_/S9QGTKT&BG?5%7/-]6M]6D\RWN!J\L:W,0MA
M&&8,HF4DR'N-O<]A4T$'B!1<31M?)+&ZB&,DB,YDDR2O0\;>?I7H5!&1@\BE
MTL(\YTZ:XO[#Q!;1R:E=$:?$#'<;F/FE6W!`>N<#IQZ5+>QWRR276CV5Y;63
MB**941X9&9=^Y@H4L!R.0O-=Y;6MO:H4M8(H5)R1&@4'\JEIO4#SYWUM;"7S
MCJ4NHB2,'RQ*D3087)7"G#=<\;L]NE%M9:W<NLD]WJJJ984`1Y$'E[6+$@@'
M.2`20#Q7H-%)@>9Z9%KD=S=21IJ:ZC)-&W[Q6$#H(0&)/W<Y'USBM#PU%K5Q
MJU@U_+J"6J1R/)&[2`>8!%@,65<C)<@#(ZUWE%.X')K:F[\7O*+5OL@M98G)
MM6A&YBO5C_K,X/3ICWJ[X6:.QTRTTR6-XKA4D<1%#P@<X^G45OTF!NS@9Z9I
M=+`]7<X".U>ZEDU'^SKB&!KN,O9_964^2NX`E<?,2Q#$#/%6=/TRZ@ET>[2Q
M8SQ?;"BL-NQ&8M&C?W>"!CM7;T4+0=]3D/!UO<Z=>:F;^SNXY;J2-WF90PDD
M*G<1M)PHZ<\``"NOHHH$%<7J,T5K\5M.EN9$AB?1YT5Y&"J6\Z,XR>^*[2JU
M]86=^BI?6EO<HIRJS1AP#ZC(H6C3_K9K]0Z6.4TB:*Z^*>L2VTB31+I=LA>,
M[E#>9*<9'?%=I5>RL;2PC9+&U@MD8Y*PQA`3ZX%6*.E@ZW"L_P`0JSZ!J:("
MS-;2@`=2=AK0HJ9+F30XNSN>8W>H6;?`EH5NX#,=#$8C$@W;_)QMQUSGC%>B
MZ6I73+-6!#"%`0>WRBJXT+2!/YPTNP$V[=Y@MTW9]<XZUHUI*7,V^Y*5DEV_
MX'^04445(SB[^:*U^*]E+<R)#$^CRHKR,%!;SD.,GOBC1IH[KXI:Y-;2)+$N
MF6B%T.Y0WF3'&1WP175WUA9WZ*M]:6]RJG*B:,.`?;(I;*QM+",QV-K!;1DY
M*PQA`3ZX%-:)+M?\;_Y@];^=OPM_D6****0'COP*_P"1K^(/_84/]:]BKQWX
M%?\`(U_$'_L*'^M>Q4`>/_M,_P#(J:-_V%(?YUZ]%_JT^@KR']IG_D5-&_["
MD/\`.O7HO]6GT%`#J**YGXB>(KGPMX:DU*RM%O)UECC$).-VY@#CWHO8:5SI
MJ*\QT_XCWNN:R=+T"SM)+AY&,4DSL$$2Q1NQ;'.[,@7`]*&\>:Y<OHAT^QTY
M5U"6:V=9W?,<L*L7Z=1\O%-JPCTZBN"^'WC>X\26Z2W*6<IDD\HQV!,C6Q^;
M_79/R@[>/<UMKX@>'4+Z._6.&*W8!8MI\UU+*JN,\%<GMTHL!T5%<]?>*8(A
M?1VEM<W-Q:J[2*JC:FT=6)(X^F3P>*EL?$=M/I<]Y<0W%L;>-7EBD0;OF&1@
M`G.>W>D!N45R.J^,_LHF6'3KKSHH99)$E"@H44,`<$YR#VS5P>+;('9+;WD<
MZ'][$47=$,*=S?-C'S+TS0%SHJ*YVX\3+_8TVH6EG<O''<?9P'4`RD/L)49Z
M9!ZXJ1/%%BT-P[QW,;6ZYEC9!N4[RF.#UR/RH`WJ*Y63QG:*;5TM[EXKC>(U
M5%+NP>-!C#8',G?!JR/%VGG&8[H*,"1O+&(F)("MSU)';/;UH`Z&BL32/$EK
MJMVEO;P7`9HA-E]F`AS@\,3SCM3;[Q-;6$TD5U;74;JRJFX(!)N;:"#NP!GU
MQ0!NT5B:UXCM](9!<6MY(6B\YO*16\M<@<\]<GMFF?\`"30"-7:ROE3S?)<E
M%_=R9P%/S=3D=,CF@#>HK!'BJP?3);Z%+B:%!$<1H"6,F-J@9Z_,,^F:@?QA
M8I*T36M]YJ!O,3RUS&0P7:?FZDL,8SUIVUL'F=+17-GQA9+</`UI?B2+/GCR
MU_<<@?-\W^TIXSP:1O&%D=@AM[R5YB/("HO[U22-Z_-]WY3UQVI>8'2T5SVA
M>*+;4UMHV21+N0D/'CA<('+=?NX9>?4T\^)[<HCQV5](LI(AV(O[T+DLRY;H
M,=\=13:L).^IO45R_P#PFMBS@0V>H3(20LB1+M8JNYNK#H/7TJ_I_B*RO[KR
M+99CN5FCE9<(^T`D`YSD;AVI#-FBN6L/&,$UM#]IL[N.ZF.(H@@_??,1\G/^
MR3SC@4VV\7K/J,L4=E<20;8_)"*/,D9@21RV!C'.<4`=717-1>,;&8G[/:WT
MWW0-D8^9BN[:,L.0.OI1K?B@6-K;3VEL]S%<6SW*2#&,*FX9YSS0%SI:*YM/
M%UGM"RVUY'<+_K82B[HAM5MQ^;&W#KTSUJQK'B2VTNZ6![:\G)B64M`@954M
MM&<D<DT!YFY17.'QAIR@%TN45<><S(,0$L5`?GJ2K#C/2H)?&$1ECCAL[D92
M1W,B@;`JA@2-W((8&@%J=517-#QC8C=OM[Q>2B'RQB9PRKM3GKN=1SCK5N+Q
M%;2:<]U]FNU9;C[*(&0>8TF<8`SC\<XQ18/,VJ*QM+\0V^IWK6MO;W0>-=TI
M=`!&<XVGGKQVS4,_B>""<6\EC?\`VDR"-80B%FR"0P^;&,*>IH`WZ*P]&\3Z
M?J\D4=GYQ>3)PR8*@*K9//`(843>)((;A[>2RO1=!@$AV*6D!)PR_-C'RGJ1
M0]`-RBN0TOQK#<VBR3VLYF,0F:&%,M&FT,S')Z#(J]/XNTZ*P6["7,L;O(BB
M-`68H<'`SZ]*+`]#H:*YJY\865JL[7%I?QK$77)C7YG5=Q08;KC/MQUI%\96
M6YEEM+^%MS1J)(UR\@*C8,,?FRP]O>@#IJ*YO_A+[(NRK:WIVE4=MB[4=CA5
M/S=2>.,]14C^(G70=/U'[!,6NIHHO*!7*[W"YZ^]&X;'045RNG^,8)X$^TV=
MU'=2.R11*@_?8=E^3)_V2><=*FC\864Q(M[6^FZ`;(U^9BNXJ,MU`ZT`=)17
M*WGC.S33I[JRM[B=%B9H9=H$<K!-VT'.>GMZUT=A+)/8P2SH$E=`S*.Q(Z46
M`GHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`\
M=^!7_(U_$'_L*'^M>Q5X[\"O^1K^(/\`V%#_`%KV*@#Q_P#:9_Y%31O^PI#_
M`#KUZ+_5I]!7D/[3/_(J:-_V%(?YUZ]%_JT^@H`=6?KFD6VM6B6UYYGEI*DP
MV'!W(<C\,BM"B@#B8?AKH5M)/-8/>V5S+=278GMY@KQLZA75>,;2%'!S6I#X
M.TF&/2$A29%TQI'@P_WF=2K%O4G<3]:Z*BCR`YGP_P"#[?0A!'9ZIJS6T+[T
MMY)E,8^]\N`H)'S9QGL*NW_AZWU">26\N;J4E66,%E`AR0<K@=<J.N>E;-%`
M'.Q^$K2,SLEY?"2XW"=_,7,H;J#\N,?3'6KSZ'9O!=Q,)"EU&D;_`#<@*,`C
MT-:E%`'/2^$[*97,UQ>22R;A)*SKND#+M(/&,8`Z`4Z\\)Z==:C]N?S!<EPQ
M;"-V48PRGCY1[UOT4`94VA6LFD'3A)/'#YAE#HP#ABY?@X]35*;PC92I@W-Z
MK-GS7609F^??\W'KZ8KHJ*/,/(YU?"-A]N6\DEN9;D2>:79E&6S&>0`!_P`L
ME_6G1^$]/BU#[;"98[@G)8!&R<D@Y*DC&>V*Z"B@#"T_PS:V5[#<K/=2O$[R
M*)"N-[C#'A1USTZ>U5H_!FGQ7-[/#-<QO=J4EV[.0220<KSG/?-=-10!E7&@
MV<\"1/YH1;<6PPW\`(/Y\5GW?@W3;C4UOV,WVA9A..5(W`@CJI(&0.A%=+11
MUN*RV.5B\)B+PS-ID4PAEGNC=221Y^5C*'PN?0``?2KG_"+6!6;>]P\LP.^4
MN-Y;<&W<#J"![<5O44#>NYRW_"'0'5'N6O+MHY4(G!<;IVW`Y?CIA5'&.E6=
M/\):;82*UL)%56W(@"`+][C(4$CYNY/05T%%'2P'/Z1X:@T_6Y[]=I_T6.SB
M&22$4DDGMDY`X[**<?#%N(XTCO+Z-8B3#MD7]T&R&4?+T.>^>@K>HH`Q+?PS
MI]O&B1"550N0-_\`>3:?TI-(\,V&DW;SV8=2Z[2I"'L!G.W=V]<5N44!8YAO
M!6FO"D<TEU,(VW1&5E?RN2<*"N,<GJ#5K_A&;-=K137,4ZA-LT956&U2.!MV
M\@G/&*W:*`.=?P?I;68M@)0JNLBL2K$,%VY^8$'/?(JYJ.@VM_!;Q2O,BP1F
M-?+(7*E=I!XQT],5K44`<_>>$M-NK_[8_F"XW!MV$;^%5QAE/&$6K][H]K>3
MM++YF\QI'\IP,*VX?J:T:*`WT.<D\':5)=M<,K[W!$F0C;P69L'*DCEFZ$=:
M(?"&GPVL<$<DZHFX`KL4E64*5.%&1@#W]ZZ.BCR`YV_\+6TED([8N)HRSQ,[
MX"NS*V[@=04!'TI=-\.>5H[6M]=2R7#7)NO/1L,CYR"#CM]*Z&B@/(S-)T6U
MTMYGMVE:28?O'D;)8Y)R??FL[2/!NF:5="XMC/O#AQN*XR`1SA1G[QR3DGUK
MI**`.>\/^&H-(U.YNX\'?!';1\DD(F>ON<]O05!9^"=-LII)K66ZBF<@B160
M,I!)SG;R3N.2V2:ZBB@+G(V'@JWM_.5KFX5=HAC:-_G,6P*5<D<YQDXJV?!^
MG>8");H0JS,D`D&Q"Q!8CC/)'<^M='11<'KHS%O_``W8WT;).9MK3/.=K8^9
ME*GMTP34>H>%--U"-DN1*P,CR]0<,Q!S@C'!48K>HH\AW,.'PS8QP&+,I4O%
M(3\JY,;!EX4`=1Z5.VAVYTF/3_.N/*BD62-]PWH58,N#C'!'<5JT4".>N_".
MF744"2B4^3S&25.#N+9P00>6(Z=#1-X1TZ:U6!S)\KK('PF0P7;G&W;R/:NA
MHH`Y]_"=@XD1I+GR'##R0X"*S+M9@`."1^'M6W;P^0'`DD=200&Q\@P!@8'3
MC//J:EHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`***
M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH
M`****`/'?@5_R-?Q!_["A_K7L5>._`K_`)&OX@_]A0_UKV*@#Q_]IG_D5-&_
M["D/\Z]>B_U:?05Y#^TS_P`BIHW_`&%(?YUZ]%_JT^@H`=1110`4444`%%%%
M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`
M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4
M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11
M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`>._`
MK_D:_B#_`-A0_P!:]BKQWX%?\C7\0?\`L*'^M>Q4`>/_`+3/_(J:-_V%(?YU
MZ]%_JT^@KR']IG_D5-&_["D/\Z]>B_U:?04`.HHHH`****`"BBB@`HHHH`**
M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH
MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@
M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`/'?@5_P`C7\0?
M^PH?ZU[%7COP*_Y&OX@_]A0_UKV*@#Q_]IG_`)%31O\`L*0_SKUZ+_5I]!7D
M/[3/_(J:-_V%(?YUZ]%_JT^@H`=1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`>._`K_D:_B#_P!A0_UKV*O'
M?@5_R-?Q!_["A_K7L5`'C_[3/_(J:-_V%(?YUZ]%_JT^@KR']IG_`)%31O\`
ML*0_SKUZ+_5I]!0`ZBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`\=^!7_(U_$'_L*'^M>Q5X[\"O^1K^(/\`
MV%#_`%KV*@#Q_P#:9_Y%31O^PI#_`#KUZ+_5I]!7D/[3/_(J:-_V%(?YUZ]%
M_JT^@H`=1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110
M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!
M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%
M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444
M4`%%%%`!1110`4444`>._`K_`)&OX@_]A0_UKV*O'?@5_P`C7\0?^PH?ZU[%
M0!X_^TS_`,BIHW_84A_G7KT7^K3Z"O(?VF?^14T;_L*0_P`Z]>B_U:?04`.J
MIJ6H0:=`DMSOVO(L:A$+$LQP!@5;K*\1Z<^I6EO&DHB$=S',S;RIVJV3@CO0
M-%U;VW)PTR(^W>4=@K`>I!Y%.:[MEB21KB$1N<*Y<8;Z'O7'ZKX3O+N6XCC-
MH89)C,+F1V,Q!3;Y9&WI[[NG;O6CXFT:^N]&MK+2!91B,%667"C[N!M.QL<^
MP/N.ZOH(V)M4LH;N*VDN8Q/)NPNX<8&23Z<>M-M=7L+DR"&[A.QRARX&2.N/
M6N,E\&:B_DQG^SF$1D<SL[^9*6`^1AM^[D8)R>.W:GCP7>RC4I)$TZWFN%D\
ME86++&68'&2@X(&#QWZ4^H+8[@7MJ<8N8.06'[P<@=_I3C=6X@$QGB$)Z.7&
MW\ZXI/"=XK.3;V9$T<B7"F[8B0,"`JXB&SD_>`]>#6E)I%\NE:<)_L,\MG(S
MO%*Y6)E.<98)U`(YV\\T`;5KJUC=+,T-U$1$Q5\L!M(.#^'O4XO+4LBBYA+2
M#*#>,M]/6N0D\+WH3SK#^SXKB22:1S]Y2KD$#)0@X`[@CIQ5:Q\'WJV;K>R6
M7VUB61D8MY8^T-)A3L'\+`<`<]@*.B#N=O\`;[3Y_P#2K?Y/O?O!\OUYXJ-]
M3LTNWMGG19$C65BQPH5B0O/3G!_*O.K/PYJ-W.AAM+:W2S@CB+R*\0NBI;);
M?&<'!ST8`GJ:W+3PM>VZP3L+2ZG2;<89I6*&(1[$&_9U'+?=ZL?K30'6_;;3
M#G[5!A/OGS!\OU]*0:A9E&<7=OL7&YO-7`STSS7&)X0O'2".Y73TB@0HS*[,
M;C,BOE\J,8"^^2W;NY_!C.\(B%CY2R;ID&<-_I$<@!&.<*K#GN:2W2!G9+?6
MC([+=0%4^\1(,+]:234+.,,7NH!M7>1O&0N,YQ]*XR;P9=I#%]C:S1D(9DSA
M92)2V#\AXP?0\CI3[7P=(L>?]%\PSAV8N7(7RF0KG:,\MTP!BET#9V.QM;ZU
MNDC:WN(I/,02*`PR5/0XI%O[-Y-BW=NSYV[1("<^F,]:Y[0-"O=/O[:9XK.&
M-+58)O*F:0R,H`!`*#;T/?G/2J">"I(PKQK9+,"K;QG.1<^:3G']WCZ^U797
M$K]3L3?6@4M]J@VAMI/F#@^GUJ"+5K.72?[2CES:>1]H+8Y";=V<=>E<G8>%
M-4?5$N=6;3Y(UE23;'T8@/SM$:@<L,9)/J35O0/#%YIOA&[T>:2VEEEMC$LX
M9LEBFW#<?='0'T[<<RMBE:]F=/%J%I+;K.ES"8FP`V\8R>WUI?MMKN*_:8-P
M;:1Y@R#Z?6N-U'P==O(#9&T6`!`8-VQ3^Z*$YV,`>F#C\JC/@N[C2#R3:L1+
M<-*IDV[A(X96W&-OF`&.@ZGFF);'?45%:B41!9E164E1M<OE1T))`YQV_4U+
M2`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`***YGXCZA=
M:;X3N)[&5H9VEAA$B]5#R*I(]\$T`=-17">([27PU_9%Y8:EJ<CRZC;VLB7-
MV\R.DCA6RK'&><@UW='2_P#73_,`HHHH`****`"BBB@`HHHH`****`"BBB@`
MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B
MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@#QWX%?\C7\0?^PH?ZU[%7COP*
M_P"1K^(/_84/]:]BH`\?_:9_Y%31O^PI#_.O7HO]6GT%>0_M,_\`(J:-_P!A
M2'^=>O1?ZM/H*`'5B>+`WV"W/S>0+F,S;1GY-W/X=*VZ"`1@C(H`\V:X\0"6
M.*(ZB85:0+=-',!(_P"[*DIL+!<%Q@X7(/-:_AF36I+74VOS<K.(>(W5^)<O
MRA*`8QMX4MT]Z[*BCI8#SRUB\0"X@MGN-00M#&5E?S&!S&2X;"%0V[.-S#&!
MZ\Q6=SXGGO;>:[2]MA-L9$*.50A\.K*JD<@<%B!SFO2**=P>IYS<?V_9VD1M
MY-4N[N6V8O&ZN/*;DD[MNTG'`7KG'!K6N+:]O_`^H03&ZDDD+"-2L@EVY'RG
M<JL>_;I7844@9YU?+KH+6]HVJI+Y[1R[$81I#YJA#&<8SLZXSWS6UXH@U'S+
M.+3VN]HC"/-&"7'SJ"2V.N,UU=%'8'J>>74>L/\`:K5GU.</'<PHFR1=HW2;
M'WXVMD;1@G/0]ZFTYM3M6:[D;5GMHYXHA"T3L?*^SIDA,;C^\+9./6N]HHZ6
M'<\UN$U;4-$N8]1_ME+IH$:V2*.10PV@MOP,!MV[@X/2K=R^JI/<%!JJ0'S#
M:F"%LO)E=OF<9`QW;`ZY-=_10]POI8\]D37HK:-Y;G4EDE21Y0(WD"NLJ;4`
M4$J"I89';GM70>$&ED;4)&CDBA9T*I(<E7V#>"?K714``#@`?2FG96$%%%%(
M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`K(\6:*-?T.?3S,8&=D=)-N[:R,&4D=QD"M>B@#D[W0-:U>6P36M1TYK
M2UNH[LI:6CQN[QG*C<TC`#.,\5UE%%'D`4444`%%%%`!1110`4444`%%%%`!
M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%
M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110!X[\"O\`D:_B#_V%#_6O
M8J\=^!7_`"-?Q!_["A_K7L5`'C_[3/\`R*FC?]A2'^=>O1?ZM/H*\A_:9_Y%
M31O^PI#_`#KUZ+_5I]!0`ZJNHW]OIT`FNW94+A!M1G)8\``*":M5D^)=.FU*
MTMHK>0QLES'*SJ0"%5LG&0>:!KS+.EZK9:I'(]A.)EC8*Q`(P2H8#D>A%7<C
MUKSN\\&7D=](;1(YK(RLRI*P+9,42B3)Z,"C_P#?512>%=6EO+B6:PL/X&C\
MO8JO("YWR*00_#=^<G/:@&CTDD`$^GI38I%DC5USAAD;@5/Y'FN2\*Z!?:=<
M7DEZL(DDC9#)%@"8EB06'7(SC)[&LC_A";P:>1$EM%?.\@>96PQC,+*%W#G&
MXKQ^-`CO8KZWENI+>-RTL?#@(<+TZG&.]2W-Q%;023SR+'%&-S,QX`]:\\/A
M&^:>>6#3[*UMV?=]C20;'7=&2AP,88(P/;GFDU?PIJ.HW%PL>DZ5:6KP21JL
M:H"<K\H8@<\\^U'1"UU/2,U4CU&VDNUME9_/*E]IC88`."3D<<],]>U<YX>T
M*[L]?GO;F&*)&+%6C(R5(&$;U"XP.U2Z!X>:QOIKF[@MR7BE0LH!8AIG?'3/
MW6%'8#J<CUHKR_3O"M_<6LES-;Q7>X2VL"7&4,<2G9#)@C.X`,W8_/70^']%
MU*PU&U2Y2)K:WDN)#.),LYD.1\N/<TQO1'4W5S#:Q>9.X1-P7.,\DX'ZU-D>
MM>;6?AJ^G5YK?3[>TD6:8L[-AKG,P9=XQG`"GKGKQ4ECX0OIY\ZI8Z<L"SF5
M88U4)GR&3=M`QG<1_.DM@/07GB2:*%W42RYV*>K8ZU)FN/U?P[=W>GZ4D:0M
M=V]M);M*Q^:,L@`8'&>"/UI]CHMW;:3J\<%A8P&Y4+%9DAXN%`8D8QSS_6CN
M'8Z2XO[6W=DGGC1U4.03T!.`?SXJSD>M>:0>#+XQ7+76GZ>\DB%44!0$Q*'`
M''`(].E64\(7D\LXO+>V9);A9'Y&)4\T/M?UVJ,#Z4^J0/9L[R[NH;2'S;B0
M)'N5<XSR2`.GN144^I6<%P()9U68LJ[.2<MG;^>T_E7#2^$+Q9SMLK29/M*O
M`S.!]EC6<OA!CC*D<#'3%:>M^%SJ'B)KIK*TEMI6MVE9P,D1E\@C'/WE_*A:
MCLKM'7+*K2O&-VY0"<J0.?0]#T[4_(]:\]3PG?Q21N+:VD:)X_)#L"B*K/U4
MCG"L`,=*TM<\)IJFO27UQ:6LP8VJAI`"=B,Y=?H=PX[TB4SL,BJ\]Y!#*(Y'
M_>E#($52S%00"0!SU(_.O.[;P9K$:2HS0K*8R(IU8;D'E[?+)ZE,\XZ<YJ8^
M#[SR]T=E:)*]O-#@%0(BS(1MP.AVMQ[T[:CEHM#T;(]:*\VN_##:7#:3M9V\
MELFPW-LB%A<OND^\`ISC>K9(ZJ*ZGP-!/:^&[.WGM!:A$)5,_=!8G&.V`10'
M8Z"BBBD`4444`%%%%`!1110!1UO5+71=+GO[YF6WA`SM&222``!W))`'UK*'
MBM(KBUCU'2=4TZ.YE6".:Y6+9YC<*IV.Q!)XZ54^*Z._@:]V*S;);>1MHSA5
MF1F/T`!/X5E^-=>TC6X=$L]&U2QO[LZM9R>3:W"2OL64,S$*20``231'5I>:
M7Y`]F_4]"HHHH`*P+OQ/'%JESI]EINHZC/:A?/\`LJQ[8BPR`2[KSCGC-;]<
M#I.KZ;HGCCQ<NLZA::>;F:WEA^U3+%YJB%5)7<1G!!'%'4#K-"UFWUJVFEMT
MEBD@E:":&90'BD&"58`D9P0>"1S6E7&_#>1+F3Q/>6["2TNM7DD@F4Y25?+C
M7<I[C*D9'I794^B]%^0=7\PHHHI`%%%%`!1110`4444`%%%%`!1110`4444`
M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4
M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`'COP*_Y&OX@_P#84/\`
M6O8J\=^!7_(U_$'_`+"A_K7L5`'C_P"TS_R*FC?]A2'^=>O1?ZM/H*\A_:9_
MY%31O^PI#_.O7HO]6GT%`#J***`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@#*UK7K#1
M[FQ@U%VB%Z[1QR%?D#!2V&/8D`X]:BTCQ#H^I6T=Q;7,$>^,S!)65)!'_?*Y
MR%[YJK\1/#?_``EGA.[TE3"LLK(T;R@X1E<'/'/0$?C7'ZE\,KJYUN]G^TQ3
M:;*',=JT@B`+0F/82L9?;CT?CTH749Z=9W=M?6ZSV5Q#<0-]V2%PZGZ$<5-6
M#X(TF^T3P]#8ZG=+=3QLV'7G:N?E7<0"V!QDC)K>IOR)7F%<K?>-]!MM6U/3
MKB1_MFG>5YR>7G_68VE?4?,,^E=57EOC'X9W>N:MJ6H6M_#;3W-Y!*K<Y\E$
M571N.I*Y'X4EN4CT>RU"QNY)8;*[MII(3B2.*16,9]&`/'XU;K@/`_@F]T'5
M+2>[N+1HK*T>TB,`8/<!GW;Y<CJ/09Y).:[^FQ!1112`****`"BBB@`HHHH`
M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H
MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`/'?
M@5_R-?Q!_P"PH?ZU[%7COP*_Y&OX@_\`84/]:]BH`\?_`&F?^14T;_L*0_SK
MUZ+_`%:?05Y#^TS_`,BIHW_84A_G7KT7^K3Z"@!U5[^]MK"#SKR98HBP7<WJ
M>@JQ6/XGL+C4+2UBM&9'2ZBD+KMRJJV21NXH&B]8:A::@CO97$<ZH0&*'."0
M&'Z$'\:M5YQ<>%-2M+Z5;)));`S%ARK.28HE$G+H,@K(/QZ47>BZW/J5Q(VG
ME8MN5\AHP)9`X*EPTGS#&[/"]>!1V!Z'H],>5$>-&;#2'"CU.,_TKD_#.E:I
M;:]-<ZBFP%7^:/!1P2NU2=Y/RX('RCOS67K.C:H)+^2V1[>UW2RF>:55?F*0
M=5)^7)7&>1GVH$>AT5Y?I^BRZO\`VC<65A);VPCG6V1IQ\LI10I&&QU!YSQ7
M2>,-+U+4(K$6JM(B(ZRJF-RN5&UQET&0<\Y_"GV!'64R:6.%-TKJBY`R3CD]
M*\[;0]=ABU$&PCNUN)3)"LDH?R5^;Y0"ZC))W9S@;L<XIQ\.ZA/8;=4TQ[R_
M!@D6<S(0`JIN3EA@Y#^QSG-"U$W8]`MKB*Y1G@D61%=HR5[,I*L/P((J6O/M
M.TF^A\3VT)/EP2RW%U<QA\D*)W>(\<<A^1_A5SQ#IFJWGB+?%8XLMNQIX&42
MLFPY&6<?Q'`7;CC.[G`3*:U:.UHKBM4M[^T\#(%1;?4K>0-;H#]Y@WRAMI(R
M1U`R.:I/X:U1%\F&%S<!MPOC.`#'Y>#'C.<EO;'?-#$>A45Q>G:1J%WKD-WJ
M=G)#;QREU1YE;!$2*#A21]X'^=6=;T6[GU6:_MHM\ZR6QA8R[?E5QY@Z\97/
MUH>Z!:G5T5Y='X8UN\ENC>6"01"";R(XY`BK*T8`(`D;OGDD>N!5^]\-:HD_
MEVL;BRS\@1@S1,57]X`749!!]?I3L#T1W9O+<1SR&9-D!(E;/"$#)S4ZD,`5
M.0>0:X"WTZ\M+IIFL)KCR7N%G+[2DBLS."@SNW$,!TQV[5>UC3-5_P"$.TVQ
MMK6*]NXH%20N02K!,9&73G/?/'H:72X[:V.QHKR8:9J9T>\F:RN$GCFN!/-Y
MP_T@%L!``<]?;''6M)O#^L-=+)#;206+2,T5L'5WMCB+#?ZP#DJYX+8W=.33
M2$>CU7-];"W:?ST\E6VE\\`YQ_.N"M/#^L7>I3B_LH[>S:2%]L;A5+#S=S8$
MC$_>CYXSCIQ1_9EY';JT6FS./LK6LJR%2`PR%,?.[))YR,8YR,<H.MCT!KB)
M+F.W:11-(K.B=V"XR?PW#\ZEKE=>T";4)]-9XQ/]ELIX]^_;^]81A3U_V6K"
MD\-:U=32"\1VWS1%W5P!+&)8BRL?,SPJOP%'?GFFEK8.QZ/17G:>'=6CNV,E
MN\L"7&Z2*-E4746X[5R9.J@KP0H^6I[/PYJ*[)Y(66>-XC`#."8D\XL4SG'"
M''Z#-):V!Z'<3W,-NT2S2*C2OL0$_>;K@?E5--;TQX/.2]@:+S'AW!N-Z$AE
M^H(-4_$]M>W^@%["WQJ43+/!%*RCYU/W202.1D9SWKE;#P?J%N-=M7B1K&8K
M-:XD&3(ZJ)?IRI.>^ZCN!Z.#D`CH:*\]N?#>JQZH5MHV&FK*3`L;!C#E8OF`
M+KCE9/4\GCFMCPCHMUI+VYF0H&LPLY\S=NFWDY//7!/-,.AT[2(LB1LV'<$J
M/7'6GUYQ>:/J-O%<.87AL8VD<M-,@DD5MI(8JQ!Z$`\'U]3!I.B7&IVL]S;6
M4L$`6[^RH\P^1VD0H1SCHK8/04EJ,]+BD25=T;;ER1FGUP!\-ZHQGN'4B[7R
M?)D,P^3$Q9^_]T_CTJ3P"A&JWA2W=`EK%%+*9`ZS2@MN88)Z]?7FA"Z7.[HK
MS9]%UR2^N)FTP)AQ)%%&R"%WRV2X,A)&#]X`'V[5O>-+/5+R6S&F644P1E)E
M)&^,[USC+K@8!YPWIBCL!TL5U!*X6.5&8E@`#_=.#^1XJ:O.3X6OH5<6NG[9
M?,N<2+*HW(\Q<?Q9&5.WV/MS4[>&[ZX-V_V1X(2DYM;=IP3$S1JHZ$@98,>"
M<9H';6QW]%>>7WAK4XYECLX3]@PF8U8,5?R]I<`NO((]??!JYX*6ZMM7NXKG
MS[B!6:VM)1RHC3YV9L]RTFSC/^KIDWTN=O17!Z]H>KW>LW\L<;R)+_J)4<+A
M3'MV,2X(`;+8"GG'-4X?#OB`&%)"ZS)&JK=*X8AP6W$DN"`^>?E8\]L4AGI%
M,BE292T3AU!(R#W%<+=Z5J2:?+'I^D31/-9FW9/M$8Q)D?.3NY!YYZ\=*9+X
M>OHX9(DTQY8\SB-4G5`LC'*R_>Z#\QC@&@#T"BN;\)VLNFO-:7<,K7DI:>6X
MZHWS8'.>O?%=)0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11
M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%
M`!1110`4444`%%%%`'COP*_Y&OX@_P#84/\`6O8J\=^!7_(U_$'_`+"A_K7L
M5`'C_P"TS_R*FC?]A2'^=>O1?ZM/H*\A_:9_Y%31O^PI#_.O7HO]6GT%`#JR
M/%.H?V;I+3^9/&=RJ&@5"PR?]O"@>YK7K,U[4I=,MH'@MA<RS3I`J-)Y8RQQ
MDG!_E2>H(\^C\1ZGJ-M97,UXT-QYJO':"(#>GD[O,)ZGYL]\<8K134M=CMV:
MXOFN%_=H4:W1<[X"Y/`[-BM$>.(S*\?V(;X?EF3SQN5_F&%&/F7Y>6XZ_6GI
MXON%$8NM,2"69(V@0W!/FERH&T[,$`L`3G(].A-;[#,9]6U@:499)O,CD,L2
MPF$`($4%3D#)Z'KZTL^LZC]HWG4F+V[7"@QJC0NVS**#MR3['G(-;"^,)OM=
MQ`VF`"T"FY;[1G9F0I\OR_-TSSBJFL>,I4O#9V9M1-&[[FAF$P*B*8@'@;6W
M1CCFE+4(Q=RIJ.MZ@DZZ;'?7DMU+;.'8PQ*`WDEMR@?-G(`Z8Y]:5/$.HI$O
MD7OG2*NU(/*4[XQ"6\W(&?O#'IVKH_#OB+^UKM[0VY2>!,SG=D*<\=NXYK+O
M/%<D7C![%+BW^Q*IM]F1O\_9O!^F.*):7_KN*']?@:3ZC<P^$Y)X;M;N^B5!
M-*$7]VQVEB5''RALX]JS]`U/4K_Q&;?[>9M-B$C+,(5'VC&SOC'!9AQCI]:K
M:9KE_P#\(S<7D$<+W9NK=0H`0.9$B+9..Y<\UH+XO=C.!I__`!ZOLNOW_P#J
MSYK1C9\OS\J3VXJI>ZW<4?A,G6M8U21KR"*\>*42S(]ND2Y@B0_))G&?F`!Y
MX^:HI=3U;3EU&\LKF2[BDNRB1&-2,"W1MX/UYZXJ6/QM>C1[*\:W1H8VA6[G
MW@$LT0D(5,=,,O.?Y5IP^,+BX"K::4MQ+\Y81W.Y=JHK94A?F/S`8QU!I6Y;
M_<4]QOAW4M3U'5+1)+S=9B*:0D)&3+M=`H8KD*1N;@'M63=W.H:;>3313R%I
MKV99)GC#>3&&0;AQC`4D_A733^(95TBQN[:TAN);J7R_+6X*JO!)RQ3.1@\;
M>M5=/\6O<3VT-SI_D27!7;B?>`K1R.">!S^Z(Q[CFE^G_#B7_!.?M/$5UI^F
MZB_VTS;A.]M*\8_>R"3`P,>A'`XJ[)KMP$M[FXO9'E628S6\<*EK8+')C`(S
MG@?>.*M3^+[N2)?LMC%$YF@55GF(9T>5$+*-F"/FQD'@]:T/$?B&32Y9X3!L
M"VYE24O@N1G*H"I!([Y.>^*?03[G-:9X@US4_P"T'M+J3990O(B/%$3.RG[K
M,N5Y`(^4UMQ^(9[CP)J6KPS(MTMM+<Q+L!,*E2T89?7;@X/K4%_XIEGC%N^C
MK+;W9$<.;O;OS*(_FPOR]<\9XK9L#;7_`(>NS]BCA5Q+%-".5)7*$9XR/E_*
MDVN5O^O,I:R7]?UU./OM=U*.=9[:ZDOH8EPETD:C(8+N..%.W)//'KTJ67Q7
M?QS64(NF\Z5F3>Z0F$IE]KL5.[<`HSMRHP:VO#>M:A=6MW=7QMQ##:0R(#($
M4LT88ECM^49^N*M6WB=+C2S<PP123&Z^R*D4^Z-G.""),=,'KBJ:L[=B(/2_
M<P-.\2ZG/J-I;&9B.%+OY7EW#;V5PK<$@`#&T9YYJ3Q=KE_9W]U"EZ(,3)%#
M:F)6\^-H\E\D9^]N'!_AK2O_`!;/8I<R3Z8ICMY/(<I<9)F\L/M`*C*_,!N.
M._%4+G7HXKV34-1T5%^S-$CRK=&0J[H&7:A4`XW`9XI=BKZNQ2;Q%K4,3P_.
MJ6@C\^985'RRE2A7=A?E4.#D]<9K7U5[W4/#NCR/.1,]S&9##M82#G&<9'8=
M*FC\57+:A;6+:8BW,VUSFZ^1(F1V#$[>OR,,8].:K#Q?/<WL4%K#9N@D=)GA
MNO-&!"SC:=O7CI0_^"*]S$U?7;O4I+.&.9F\I-THC7&V0P7.0<?[J\?2M?Q5
M<W5JD3QW,BJ=)N"L)4%9)`JD=LD]?RIT?C=TTA+Y]/+P-'((V\X!I)$C+D%=
MN%!"MSSTZ<UK'Q#*EA/)-8A;N.XCMA"LV59W*A?GP,#YN3C\Z>S_`*]/U*;V
M;Z?IJ<C=:GJ-A=SR1W,\TD<TJM\JGR8V>(;L'`X4DC/%=#<ZW/;^%;>[NKB5
M9I)2@FMQ"Q*Y."VX[!P.>>O2K>E^(IK_`%@V`L%1HE8W#F?(0@XPOR_-GCTJ
MI#XND:$27%G:VJR`M"T]Z%1@'V?,=ORGN!S4OX4B4K,B\%:]>ZJ<WTZL\MI'
M<*D:KLBRBDA^-P;))QDC%9L7BJ^@@E^TW:R,L3J)0BM'),"F/+(`R,,>",]<
M]*T$\77M\;9M.T^'[.Y@WRR7/_/3/"@*<XQUR*?)XU:$*;FP2$3221V[-<C:
MQ24QY<[?DSC/>FWJ-%$7M_J;6!&JO#>_:6\VW2)/]'`##&",G.!R<]<CM73:
M5J@N?#J75W*BS+`&G[;"5SR.U9,?C"XE@GGBTH?9X?+5Y&G.%+#))PA^4?WJ
MK1>++Q+:9KJW38US/'!-%*#N5),8(VXQCOWQ[TK:-!M[QFV>M:G%8+"9V\Y0
MD:6;19,D1CR9<D9X)/?'RXI[ZCK3Z2K"[D19B\`C2%1Y8$!<,#C.<KCGUKJ/
M#OB"7598DN+(6OG0&XA(F\S<H;:<\#!Y7UZ^U5]1\2SVUY>PK9`6]O*MO]H\
M[+;W3<IV8Z9('6G+6_G_`,-^81TT[%?5]6N+:UTSRM0\B"2U>3[3Y:OYLBA=
MJ<C'.6/')QQWK$?Q3XA2]@MWAVNS?9G'D9"S2INB)./NJ00?KS6IH_C<7=EN
MDCM@R0%S++<B-=Z[=V_@[`2W!YS@\5*WCB-+<SR6D:P^6S*YG^61@2-J-MVG
MG&22,`YQQ0]'J%K(S)==UNTMHY)KF299I'5F$$:F!5FV;AG`^[_>..]#ZUK?
MV:>YDU&*&*".)@H6/]Z#O)*M@C>0HXZ9R/>N@D\3,NCK>BS0@3F&1O.)BC`'
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MY5%.]]?+]`M;7MI^)EIXHO\`[->R7<T\14J"D:P;X7WL-N&.-I`ZO@\<=:A7
M6K_6=%=I=0:UNV:(16ZQJ"REE_>=,GN>#BNBE\27D2*7TR//D?:W"W7W8N`#
M]WEN3QTXZ\U6C\7W<QB:'24:.6*>=6:ZP?+C*@G&SJ=_`]NM+R!ZNZ'W6IZA
M!X>N96NT6>WNS$99`J-(BMR!D;=Q'3C'TZCGY_$>H0M?.+QK*,2*UN)+==UP
M6905.1UP>W3-;LOC1UM4NHM-,EO<$K;$SA6D8$###'RCGKST[52\2:VGV\0/
M96$VH1!615O2^PATR'4*,??&,YIK<-UH:?AN_P!3GU!1?7!EBF\\A#$J^7LE
M*J`0.>/6NJK`TKQ&FH:Q-8K`JA"ZAUEW'*X!W+CY>O'KBM^ET0/=A1110`44
M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`>._`K
M_D:_B#_V%#_6O8J\=^!7_(U_$'_L*'^M>Q4`>/\`[3/_`"*FC?\`84A_G7KT
M7^K3Z"O(?VF?^14T;_L*0_SKUZ+_`%:?04`.K"\80V<^GVZWZ3R*+F-DB@^_
M(X/"@Y&/KD5NU4U33XM1MUBF:1"CB1'C;#(PZ$4`<YH[Z)J.H/;V>FW2/!`!
M*QRJ*"778^&^9LJ_8_6H(;K1=13>-&OW;R,Q1O@%XPP0L@+X&,+Z'IZUT6E:
M):Z6T[6ID,DZA9&=LEB"QR?<EVS6+;>"+,Z9';7]Q<7#H-H8L"$&[=A001C.
M.N>@]*&"V,\:IHR?N=-T2YGCED@MYI#M"_.VX`DODD%B?ZT0W'ADS-,-'NQ-
M(Q2(,,F8[GC(0;\`?._7'!)K?M?"MA:V)M8'N%7S(I0^\;@T>-I'&.P[4VZ\
M):9<V\4,HE(BSL.02I+[\\C'7VZ4W_7H'3ST,+3]7T>RU"XN8K6^EFFECW2!
M4158J56,DN!D`$<\9[YQ4AUG3WMI;6[TQX0;WY"RY21A*JE@0V<_,/;Z]*W6
M\,V9M+BW66=$N%5)=I4;U"E<8VXZ'TI'\+:<\-O&?.VP.9$^?OO5N?Q44==0
MTTL5/#MUH^HVXMK73I[:)T2ZC290/,5<*K##'IM7KCM5&VO-$U");Z+1+UG*
MB[5"%5I%=BV_&_!&><'UZ5L^&?#L>BVL*R7$MS<)`(-[MPJ]2%&.!GZU!=^#
M=+NK.VMI//$=O"L"?,#\JCC((()]\4G_`%_7W#TV,*2^\--.BQ:'>SQPA$1X
MU'EG]R''!<9PC#DCVK7TFXT2XNH[2TMKD*VY(YG9MI;8I9%);<#C'MP><U=M
M/"VG6L*QQ>=M4@\OZ1+%Z?W5'XT_2_#=AIE^UW:!U=AR"%(S@#.<9[>M-VN^
MPG>R?4PK#7-+AMH+>\TV>WC6XD$+D9C)#[&?.[/\623ZDC-7[F+1YM%COETJ
M>>W8+@1X5U5=V&Y88`!;H<_-27_@^VFL;N"*65_/61`MP^Y8A(P+[0,')Q^%
M7]6\-6.JZ5;:?<^8(+?&S9CLI7N".A].M+H'4Y^6Y\.KI)N;/3IIQM>.)-Q_
MY9@28&6^4?*#QZ4V?6-*NIIY-=TRX1(@R)(Q+(?W18K@-][;NY`]LULV_@_3
MH-BI)=>2B.BQ&0;!N7:QZ=2*FE\+:?-:"WN#/*F\N2S\DF,H>0/1C^-/KY`<
MI`VEVNLW$TUI?O?!7F\AXE"VX4B3<</CK@\'FMU-:TVRN&MTT^[\V95.U-I6
M0R$G`!?@GYCSC@&K\7AFR22:622YFGFB>*261P696`!Z#T%0OX0T]X98Y9;F
M1'E6;#LK;6`P,97L.,&EY!UO_7D9<.L:5<?9K'3=-E>SNY([2:1EPB8CR$/S
M9W``#I^-/U"\T;3++4+*+3;B2&.5F9LY1KC8'V[BV[=C'/3MFM6W\+64%S;S
M1RW(\EUE$890CN%V[B`.N/3`I]WX:LKJYGEE>XVSL7>$/\F\ILWXQUQ[XH>O
M]?U_5@5D<C:W=C]M9M5TI8(EBCWLVYR[-&3TWGG:`,D$^]:._1HM7FN+W3KP
M3W`CD9)0I6!-OEH6`<C!VMCJ>#TK>N/#6GW!;S5E8,%!&_\`NJ5'Z&HCX5LW
MO(;J6:YEN(T$?F2;&+(#D*?E[9/3!Y-'4$-\.66DWEA'>VFFR0(Y)3[1]XC:
M5S]X\8)`'OTJS#X9TB'_`%=F`=XDSYC$Y"E?7IM)&.E7=-L8]/MU@ADE:)0%
M57(.T`=N*MTWOH);&0OAK2%WA;&,*R&,KEL8(P<#.`2.,]:MSZ793PW$4MNK
M1SD-(,GDC&#GL1@<CTJY12&4K+2K*Q??:VZQOMV;LDDC.>2>O)K-L?"6DVMH
M(3`96W%C(SL&R23P0?EZGIBM^B@#,AT#3(;3[-%:*D.$&T,W\'W><YXI9="T
MV6-$>T0JF[;@D%=S;C@YR/FYK2HH`S6T33VMG@,#&)]N\>8^6P,#)SD\<4AT
M'3#`L/V2,1HS.JC/!8Y8_B:TZ*`,'3?"UCIUM!';&56C96:0.07VDD*>>!D]
M!Q4R>';#^U;N_FC,L]PX<[B<+A-G`SCIGGKS6Q11<#(7PYI*QO&MH%C<`%!(
MP7@@@@9P""H.1SQ2+X9TA8UC^QAHU#`*TCL!NSD\GKR>>O-;%%`&?+HUC-8B
MSEB=[8$G8TKG.>N3G)'/0UF7_A.RN[^"<'R8XY%E,48QO8-N!)SZUT=%'6X=
M+%*/2[*)0L=NBJ(C!CG[A.2M$&E64#(T-NB,CF12,\-M"Y_(`5=HH`S+W0=,
MOD=;FU5P[L[89ER6&#T/<`<5+:Z186HD%O:QH)%*,.3D$EB/S)/XU>HH`R#X
M;TDK&K6F53.T&1S@'''7IP..G%1W7AG3;F\M)I(ODMHY8TB5B%.\J23@_P"S
MTZ<UMT4`9?\`PC^E>>\WV./>W7DX'(/`S@<@=/2FS>'-)FN9;B6S5I9596.]
MNC$$X&<`G:.1SQ6M10!2M-+L[.X>>VB*2/\`>^=B#[X)QGWJ[110`4444`%%
M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444
M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`'COP*
M_P"1K^(/_84/]:]BKQWX%?\`(U_$'_L*'^M>Q4`>/_M,_P#(J:-_V%(?YUZ]
M%_JT^@KR']IG_D5-&_["D/\`.O7HO]6GT%`#J**Y7QE86>IZUX8M=2M8+NV>
MZE+0SQAT)%O(1D'CK0!U5%<]_P`(/X4_Z%G1/_`&+_XFC_A!_"G_`$+.B?\`
M@#%_\30!T-%<]_P@_A3_`*%G1/\`P!B_^)H_X0?PI_T+.B?^`,7_`,30!T-%
M<]_P@_A3_H6=$_\``&+_`.)H_P"$'\*?]"SHG_@#%_\`$T`=#17/?\(/X4_Z
M%G1/_`&+_P")H_X0?PI_T+.B?^`,7_Q-`'0T5SW_``@_A3_H6=$_\`8O_B:/
M^$'\*?\`0LZ)_P"`,7_Q-`'0T5SW_"#^%/\`H6=$_P#`&+_XFC_A!_"G_0LZ
M)_X`Q?\`Q-`'0T5SW_"#^%/^A9T3_P``8O\`XFC_`(0?PI_T+.B?^`,7_P`3
M0!T-%<]_P@_A3_H6=$_\`8O_`(FC_A!_"G_0LZ)_X`Q?_$T`=#17/?\`"#^%
M/^A9T3_P!B_^)H_X0?PI_P!"SHG_`(`Q?_$T`=#17/?\(/X4_P"A9T3_`,`8
MO_B:/^$'\*?]"SHG_@#%_P#$T`=#17/?\(/X4_Z%G1/_``!B_P#B:/\`A!_"
MG_0LZ)_X`Q?_`!-`'0T5SW_"#^%/^A9T3_P!B_\`B:BNO!'A5;:4CPUHH(0D
M$6,7I_NT`=-17"^#/!OAFX\'Z%/<>'='EFDL('>1[*-F9C&I))(Y)-;/_"#^
M%/\`H6=$_P#`&+_XF@#H:*Y[_A!_"G_0LZ)_X`Q?_$T?\(/X4_Z%G1/_``!B
M_P#B:`.AHKGO^$'\*?\`0LZ)_P"`,7_Q-9_B'P7X7BT#4Y(O#FC)(EK*RLME
M&"I"'!!VT`=C15#0.="TW/\`S[1_^@BK]`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`45QC:%I&L^.M;;5]+L;YHK6T$9N8%EV`F;.-P..@K2_X0?PI
M_P!"SHG_`(`Q?_$T`=#17/?\(/X4_P"A9T3_`,`8O_B:/^$'\*?]"SHG_@#%
M_P#$T`=#17/?\(/X4_Z%G1/_``!B_P#B:/\`A!_"G_0LZ)_X`Q?_`!-`'0T5
MSW_"#^%/^A9T3_P!B_\`B:/^$'\*?]"SHG_@#%_\30!T-%<]_P`(/X4_Z%G1
M/_`&+_XFC_A!_"G_`$+.B?\`@#%_\30!T-%<]_P@_A3_`*%G1/\`P!B_^)H_
MX0?PI_T+.B?^`,7_`,30!T-%<]_P@_A3_H6=$_\``&+_`.)H_P"$'\*?]"SH
MG_@#%_\`$T`=#17/?\(/X4_Z%G1/_`&+_P")H_X0?PI_T+.B?^`,7_Q-`'0T
M5SW_``@_A3_H6=$_\`8O_B:/^$'\*?\`0LZ)_P"`,7_Q-`'0T5SW_"#^%/\`
MH6=$_P#`&+_XFC_A!_"G_0LZ)_X`Q?\`Q-`'0T5SW_"#^%/^A9T3_P``8O\`
MXFC_`(0?PI_T+.B?^`,7_P`30!T-%<]_P@_A3_H6=$_\`8O_`(FC_A!_"G_0
MLZ)_X`Q?_$T`=#17`^,?!WAJWT^R:#P]I$3-J5G&Q2SC!*M<(&!P.A!((]#6
M[_P@_A3_`*%G1/\`P!B_^)H`Z&BN>_X0?PI_T+.B?^`,7_Q-'_"#^%/^A9T3
M_P``8O\`XF@#H:*Y[_A!_"G_`$+.B?\`@#%_\31_P@_A3_H6=$_\`8O_`(F@
M#H:*X?7?#6A:5>Z#<Z7HVFV=Q_:<2^;;VR1M@ALC(&<5W%`!1110`4444`%%
M%%`!1110`4444`%%%%`!1110!X[\"O\`D:_B#_V%#_6O8J\=^!7_`"-?Q!_[
M"A_K7L5`'C_[3/\`R*FC?]A2'^=>O1?ZM/H*\A_:9_Y%31O^PI#_`#KUZ+_5
MI]!0`ZN>\0_\C+X6_P"OJ;_TGDKH:Y[Q#_R,OA;_`*^IO_2>2@#H:***`"BB
MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`J*[_X]9O]
MQOY5+45W_P`>LW^XW\J`,CP)_P`B1X>_[!UO_P"BEK<K#\"?\B1X>_[!UO\`
M^BEK<H`****`"LWQ-_R+>K?]>DO_`*`:TJS?$W_(MZM_UZ2_^@&@!_A__D`Z
M;_U[1_\`H(J_5#P__P`@'3?^O:/_`-!%7Z`"BBB@`HHHH`****`"BBB@`HHH
MH`****`"BBB@#GM*_P"1X\0?]>MG_.:NAKGM*_Y'CQ!_UZV?\YJZ&@`HHHH`
M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`.>\<?\`
M(,L/^PI8_P#I3'70USWCC_D&6'_84L?_`$ICKH:`"BBB@`HHHH`Y[QA]_0?^
MPI#_`":NAKGO&'W]!_["D/\`)JZ&@`HHHH`****`"BBB@`HHHH`****`"BBB
M@`HHHH`\=^!7_(U_$'_L*'^M>Q5X[\"O^1K^(/\`V%#_`%KV*@#Q_P#:9_Y%
M31O^PI#_`#KUZ+_5I]!7D'[31`\):.3P!JD))].:]?B_U2?04`.KD?B`VKVL
MFBZEH>E)JLME<NTD#W:6PVM$Z9WOQU8<5UU8_BJVANM**3F<!9%=3#`TYW`Y
M&44'(]>*!HY*/Q=X\E&8_AU$X]5U^`_^RT[_`(2KQ_\`]$W3_P`'T'_Q-4KJ
M[U:WM[N>]COM-MF5V1;2(J1(((MG`&=N?,]@>#6@DFM16T5Z?[4N3([J\*DC
M]WY)*D8!Q\P'(SUIM`]+#/\`A*_'^<?\*XCSZ?V]!_\`$T?\)5X__P"B;I_X
M/H/_`(FJUBVMN+J[>+54N/L\L=N&60_=DR,[E!SCH2`3VJW<S:[>3:E=6@U2
M.*-9#;QM&T6_Y@.A&<[=Q`Q^%(7<C?Q;X]C&7^',2C.,G7X!S_WS3$\9>.9&
MVI\/8&;.,#Q#;GG_`+YK6<3R:%8?;B\F=2B*B97#!=XP&WJI/U(K+TW1;G3[
MS2]3N(9`%N)%>*"U?<JEI2&<#))Y'.!UII?U]PFP7QAX[=F5?AW"S+U`\00$
MCZ_+33XS\<!$8_#VW"O]T_\`"0V^&^GR\U<"WZ:=K,%E:,+R[N)$B8VLD9"N
MWWS(1C`!)Z52M--N=+1+1K"0S6$Q%E$L#W$#PN0VW?M`4J<C)Q@`4EJ-Z#X_
M%_CN0L(_AW"Y7J%\00''_CM-3QEXYD.$^'L#'../$%N>?^^:W_!L+Q6-Y#=6
MYA<S3DC[*\;$&5R/G/#\$$8KG9M.OG2*TTNTG-O!(WE7#VS0.P,+@JP8`DC@
M;^^['4&@%J.7QIXW<D+\/K=B"`<>(;<\GI_#4A\7>/!U^'477;_R'X.OI]VC
M4;)M5$>GV6F26UJKVTGFBRDA='#G[S$`-C&<CU]ZLQ6^I7'A359)[&9=3ANS
M<11%>9'C8$%?4,5X^M'G_70.MBI_PF'CK!/_``KR'`.TG_A((.#Z?=IJ^-/'
M#/M7X?6Y;.,#Q#;Y_P#0:JZ7HVI"XUJ">RN1:R(=2A+*>9I(BIC^H);(]Q6Q
M>:1.'N'M+$).;BP9'\C/W70N>,$@8.>>U-+6S\@*;>,?'29W_#R!<<'/B"`?
M^R^XIS>+O'BARWPZB`3EB=?@X^ORU5UW0]0O[JXBNK625)KH;WAB95*&:`DC
MD]@QSGL:T%M=4DT'Q7!>6LSW7E"&-_++?:=J$!E`ZY&,@=\BA+2X-V_KR*I\
M:>.!%YA^'UN(\XW'Q#;XS]=M//B_QV,Y^'</`!/_`!4$'&>G\-+I=HUO>/<Z
MGIL\^G--,56.Q?`8A<,(,%@.",XY//>HDTK4!-I<QL+@6]JJ_:XB"6E0N3&G
M^T8P1G\J.P,EC\6^/9%W1_#J)UZ977X"/_0:=_PE7C__`*)NG_@^@_\`B:Z7
MP6JKI$XC4*GVZ[P`,#'VB2MZAC>C:///^$J\?_\`1-T_\'T'_P`31_PE7C__
M`*)NG_@^@_\`B:]#HI"///\`A*O'_P#T3=/_``?0?_$TR;Q/X_DB=/\`A7"#
M<I&?[>@_^)KT:B@#RKP]XB\=:;H]AI:>`8)Y+*VC@+#7X`6V*%SMVG'2M+_A
M*_'^<?\`"N(\^G]O0?\`Q-2QP2QW"O::;=B]M[FXGF=8&C,D15\(KD`,22N`
M">F:SH'UV5Y+J.#4UGBBGCMED\UAO,:E<ET4D9S@L`,T+5#>A<_X2KQ__P!$
MW3_P?0?_`!-'_"5>/_\`HFZ?^#Z#_P")KI_"+73Z?*UV\[`R?NQ.L@=5VC@E
MU4GG/..^.U;E-JPDSSS_`(2KQ_\`]$W3_P`'T'_Q-5M3\0?$"^TV[M/^%=(G
MGPO%N_MV`[=RD9QM]Z],HI`4-`2:/0]/CN87@G2!$>)RI*,%`()4D?D35^BB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`\[US4_$^C>,]2N-'\*+JE
MI=0P1K+)JD-KEDWD[5.21\^.<=#QWH7Q7X^90R_#B,@\@C7X.?\`QVMKQ1"R
M:K;75G;S7-YM\ORC;-)&4)Y._&$8=>O-<NUWK$,<$#S:G'J13;'"B$1[/LP(
MZ#&[?NXZY[8Q0M0ZV+__``E7C_\`Z)NG_@^@_P#B:!XK\?G./AQ&<?\`4>@_
M^)HU276M/MI(88]7NCMC>.4-(2&\OY@=J,3R.AP.O(IT<NIZ:+MA'JKEWG9@
ML,DGSLBF,C`Z9!Z<`]<4!?8;_P`)5X__`.B;I_X/H/\`XFFMXM\>I]_X<Q+]
M=?@'_LM,'_"11P6\LLFI?OI9]^1(3&01Y7RHC':1O)XP2!S6SXD\[[;,L\<L
MS2::T=NL4;/F0M\_`''5/PS[T/0=OZ^=C*/BSQ\J[F^',87U.OP8_P#0:4^*
M_'X'/PX0?]QZ#_XFDE_MO"Q(FHM.&Q.C1$PJ@=-FPXP3UZ9XSFDNK/6'L%$\
MFJ2J7AGD'S%EVW0)"@#/^K&<#TI]1+4;-XP\=0@&;X>0Q@\`OX@@&?\`QVI/
M^$J\?_\`1-T_\'T'_P`36YKD<2ZS%<ZA8SWE@;4HBI;M-MDSGE0"02.Y%<FG
M_"8::^FVT,=]+'$8Q(,!UVR1[<%N_EL,D^])#-#_`(2KQ_\`]$W3_P`'T'_Q
M-'_"5>/_`/HFZ?\`@^@_^)I]W%XALX)GM)=0N)&DF0B0D@1J1M*\<$C)!&<^
M]-2/69HIYI+W4XHXX\P@13,2?,/RL-@<G`QG'3!YH`:OBOQ\V=OPXC.#@XU^
M#_XFE_X2KQ__`-$W3_P?0?\`Q-;_`(0>66;49&BEAB8Q924DD2^6/,Y[_P`.
M?<&NDH>@D[GGG_"5>/\`_HFZ?^#Z#_XFC_A*O'__`$3=/_!]!_\`$UZ'10!Y
MY_PE7C__`*)NG_@^@_\`B:/^$J\?_P#1-T_\'T'_`,37H=%`'GG_``E7C_\`
MZ)NG_@^@_P#B:/\`A*O'_P#T3=/_``?0?_$UZ'10!YY_PE7C_P#Z)NG_`(/H
M/_B:/^$J\?\`_1-T_P#!]!_\37H=%`'GG_"5>/\`_HFZ?^#Z#_XFC_A*O'__
M`$3=/_!]!_\`$UZ'10!Y5K^M>/M1LX4?X?1P+#=071<Z[`1^ZD5\?=&,[<9[
M9J_%XO\`'DR[HOAW"Z],KX@@(_\`0:Z[QA"]QX8U***)Y7>%@(T4L6]@!UKE
M[]KBVBO;G2=.U".UF9%1(8Y(&WJK;GV*A;!^4?=Y..@YH'V&#Q7X_)('PXCX
M_P"H]!_\31_PE7C_`/Z)NG_@^@_^)JLIUR(&1DU-7N#')<%5E^4F'MM1C]_.
M0!Z9Q7HUCYOV*W^TL&G\M?,8`@%L<G!Z<T[$W."_X2KQ_P#]$W3_`,'T'_Q-
M'_"5>/\`_HFZ?^#Z#_XFO0Z*0SSE;_QGKFK:/#J?@M-+LH+Q+B6Z_M:*?:%#
M?P``GK7HU%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110!X[\"O^1K^(
M/_84/]:]BKQSX$G/BKX@D<C^U#_6O8Z`.7^)/A&W\;^$KO1KB3RG?#PRXSY<
M@Z''I7F]E??&?0+.'3AH.F:TL"B-;L7**74<#.YE.<>U>X44`>*_\)/\9_\`
MH1]._P#`N+_X[1_PD_QG_P"A'T[_`,"XO_CM>U44`>'7.N?%ZZV?:OA_I$VP
MY7S+B%MI]LR<5/\`\)/\9_\`H1M._P#`N+_X[7M5%`'BO_"3_&?_`*$?3O\`
MP+B_^.T?\)/\9_\`H1]._P#`N+_X[7M5%`'B4OB/XR2KME\!Z6ZYSAKJ(C/_
M`'\I_P#PD_QG_P"A'T[_`,"XO_CM>U44`>*_\)/\9_\`H1]._P#`N+_X[1_P
MD_QG_P"A'T[_`,"XO_CM>U44`>*_\)/\9_\`H1]._P#`N+_X[1_PD_QG_P"A
M'T[_`,"XO_CM>U44`>*_\)/\9_\`H1]._P#`N+_X[1_PD_QG_P"A'T[_`,"X
MO_CM>U44`>*_\)/\9_\`H1]._P#`N+_X[1_PD_QG_P"A'T[_`,"XO_CM>U44
M`>*_\)/\9_\`H1]._P#`N+_X[1_PD_QG_P"A'T[_`,"XO_CM>U44`>*_\)/\
M9_\`H1]._P#`N+_X[1_PD_QG_P"A'T[_`,"XO_CM>U44`>)1>(_C)"@2+P'I
M:(.BK=1`?^C*?_PD_P`9_P#H1]._\"XO_CM>U44`>*_\)/\`&?\`Z$?3O_`N
M+_X[1_PD_P`9_P#H1]._\"XO_CM>U44`>*_\)/\`&?\`Z$?3O_`N+_X[1_PD
M_P`9_P#H1]._\"XO_CM>U44`>*_\)/\`&?\`Z$?3O_`N+_X[1_PD_P`9_P#H
M1]._\"XO_CM>U44`>*_\)/\`&?\`Z$?3O_`N+_X[1_PD_P`9_P#H1]._\"XO
M_CM>U44`>*_\)/\`&?\`Z$?3O_`N+_X[1_PD_P`9_P#H1]._\"XO_CM>U44`
M>*_\)/\`&?\`Z$?3O_`N+_X[1_PD_P`9_P#H1]._\"XO_CM>U44`>*_\)/\`
M&?\`Z$?3O_`N+_X[1_PD_P`9_P#H1]._\"XO_CM>U44`>*_\)/\`&?\`Z$?3
MO_`N+_X[1_PD_P`9_P#H1]._\"XO_CM>U44`>*_\)/\`&?\`Z$?3O_`N+_X[
M1_PD_P`9_P#H1]._\"XO_CM>U44`>*_\)/\`&?\`Z$?3O_`N+_X[1_PD_P`9
M_P#H1]._\"XO_CM>U44`>*_\)/\`&?\`Z$?3O_`N+_X[1_PD_P`9_P#H1]._
M\"XO_CM>U44`>*_\)/\`&?\`Z$?3O_`N+_X[1_PD_P`9_P#H1]._\"XO_CM>
MU44`>*_\)/\`&?\`Z$?3O_`N+_X[1_PD_P`9_P#H1]._\"XO_CM>U44`>*_\
M)/\`&?\`Z$?3O_`N+_X[4"ZW\7ENFN5^'VD"Y;@RBXAWGMR?,SV%>XT4`>*_
M\)/\9_\`H1]._P#`N+_X[1_PD_QG_P"A'T[_`,"XO_CM>U44`>*_\)/\9_\`
MH1]._P#`N+_X[0?$WQF)!/@;3<CI_I<7_P`=KVJB@#Q7_A)_C/\`]"/IW_@7
M%_\`':/^$G^,_P#T(^G?^!<7_P`=KVJB@#Q7_A)_C/\`]"/IW_@7%_\`':/^
M$G^,_P#T(^G?^!<7_P`=KVJB@#Q7_A)_C/\`]"/IW_@7%_\`':/^$G^,_P#T
M(^G?^!<7_P`=KVJB@#Q4>)OC,.G@;31W_P"/N+_X[1_PD_QG_P"A'T[_`,"X
MO_CM>U44`>*_\)/\9_\`H1]._P#`N+_X[1_PD_QG_P"A'T[_`,"XO_CM>U44
M`>*_\)/\9_\`H1]._P#`N+_X[1_PD_QG_P"A'T[_`,"XO_CM>U44`>*_\)/\
M9_\`H1]._P#`N+_X[1_PD_QG_P"A'T[_`,"XO_CM>U44`>*_\)/\9_\`H1].
M_P#`N+_X[1_PD_QG_P"A'T[_`,"XO_CM>U44`>*_\)/\9_\`H1]._P#`N+_X
M[1_PD_QG_P"A'T[_`,"XO_CM>U44`>*_\)/\9_\`H1]._P#`N+_X[1_PD_QG
M_P"A'T[_`,"XO_CM>U44`>*_\)/\9_\`H1]._P#`N+_X[1_PD_QG_P"A'T[_
M`,"XO_CM>U44`>*_\)/\9_\`H1]._P#`N+_X[1_PD_QG_P"A'T[_`,"XO_CM
M>U44`>*_\)/\9_\`H1]._P#`N+_X[1_PD_QG_P"A'T[_`,"XO_CM>U44`>*_
M\)/\9_\`H1]._P#`N+_X[1_PD_QG_P"A'T[_`,"XO_CM>U44`>*_\)/\9_\`
MH1]._P#`N+_X[1_PD_QG_P"A'T[_`,"XO_CM>U44`>*_\)/\9_\`H1]._P#`
MN+_X[1_PD_QG_P"A'T[_`,"XO_CM>U44`>*_\)/\9_\`H1]._P#`N+_X[1_P
MD_QG_P"A'T[_`,"XO_CM>U44`>*_\)/\9_\`H1]._P#`N+_X[1_PD_QG_P"A
M'T[_`,"XO_CM>U44`>*_\)/\9_\`H1]._P#`N+_X[1_PD_QG_P"A'T[_`,"X
MO_CM>U44`>*_\)/\9_\`H1]._P#`N+_X[39=8^-.IQ/:)X:TO2VD&/M3W*-L
J_`.Q_2O;**`.(^$_@?\`X0C0)8+FY^UZG=RFXO)QT>0^GM7;T44`?__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>sig1.jpg
<TEXT>
begin 644 sig1.jpg
M_]C_X``02D9)1@`!``$`8`!@``#__@`?3$5!1"!496-H;F]L;V=I97,@26YC
M+B!6,2XP,0#_VP"$``4%!0@%"`P'!PP,"0D)#`T,#`P,#0T-#0T-#0T-#0T-
M#0T-#0T-#0T-#0T-#0T-#0T-#0T-#0T-#0T-#0T-#0T!!0@("@<*#`<'#`T,
M"@P-#0T-#0T-#0T-#0T-#0T-#0T-#0T-#0T-#0T-#0T-#0T-#0T-#0T-#0T-
M#0T-#0T-#?_$`:(```$%`0$!`0$!```````````!`@,$!08'"`D*"P$``P$!
M`0$!`0$!`0````````$"`P0%!@<("0H+$``"`0,#`@0#!04$!````7T!`@,`
M!!$%$B$Q008346$'(G$4,H&1H0@C0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I
M*C0U-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H.$A8:'
MB(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7
MV-G:X>+CY.7FY^CIZO'R\_3U]O?X^?H1``(!`@0$`P0'!00$``$"=P`!`@,1
M!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:)B<H
M*2HU-C<X.3I#1$5&1TA)2E-455976%E:8V1E9F=H:6IS='5V=WAY>H*#A(6&
MAXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76
MU]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_``!$(`%H!%`,!$0`"$0$#$0'_V@`,
M`P$``A$#$0`_`/LDT`)0`4`%`!0`4`%`!0`4`%`!0`4`%`!0`4`%`!0`9%`"
M$XH`9D=J`'9&*`&M\H]*`.?TS7TU.YFMXT(6W(&_/!))']*`.C6@!:`"@`H`
M*`"@!"0!D]!0!@:1K<.K/*L65,#;2#WSQG]*`.@H`*`"@!10`&@!*`"@!"<4
M`1+,I.T$9'4`\T`2;A0`9!Z'\J`'4`%`!0`4`%`!0`4`%`!G:*`,?4-7CLF$
M8!DD;`$:]>>Y]!0!G7&H:E;_`#"W5U[[6.['J,Y%`$QUV(V_FKG?G9Y;<'?@
M';D?44`8T*WT=S%/=3!&D)!A'W0N>WN!U-`%K^UIKC4$BMV4PY((QUV_>.?3
MD#\*`-;7-233+9I7/LOJ2:`*'A>P%K"UQMPUR[.?I_#^F2?>@#J^E`!0`4`%
M`!0`4`-8!@0>AH`\H$K>%=4E^5G@F3?@#H0>OZT`>AZ;JUOJ2`P."<<CN,T`
M:P-`#2<4`.7I0`IH`2@!I./YT`<[J^L_8E\N`>;.Q`5!V)[GN!C/XXH`Y#2I
M)-,O+J>Y?>T<.]P3\H=B2J#W^7'XT`=7_;>S3#?R@1L48J#ZXX`^IH`K^#UN
M&M3/=,6:9BP'H.U`'84`%`#6;;R>@Y/X4`<?#XSMY"2T<J1`D>81\O\`^J@#
MH[;48;L!X7$BX_A(_D>:`+JG/(H`=0`4`0SR>4A<\[1G'T%`'-Z!#'=AM1/+
MW'S`G^%>RCTP...?6@#IGP,$C)%`'&+;#4-6:10H@M,`@=&E8!B3[@$#\*`*
M7B.?9>KM^];Q,<>\APH_0T`+X9ACC#S\^5`#&';@L^2TK9]V./\`@(Q0!'-*
M/$VHI;%2D%L/,P?^6AR0#_NC!QZ]Z`/0TC$8"CH``.W2@!V2/I0`[_(H`J?;
M(S+Y`8"0#<5[X]?SH`D>81J6.`%Y.>PH`IZ=JL.I1M)!DJK%/F&.1W]Q0!`^
MMP1WHT\Y\UEW#'W?<?UH`BUCQ!!HQ1)06,F>!U`'4GVYH`QKZ1%U.UF8`QW"
M/&<Y.,@.O&<<[3VH`QM<L$T2=+S3W\MR^##GABW?'7\J`/1+>8F(22?*=N3Z
M9QTH`YV_\411MY-FOGR],#H#VZ>]`'0:=+/+`CW"A)&&2!T'M0!H&@!K':*`
M.0\2:[]C`M(,M<3`JNT_<)QAC[8SQ0!1\.Z"^CQR:CJ3B6]D0>8_.U50D@*I
M8@$@\GN0,8Z$`XN,2:Y=%1\D<UP)21GF.,'@^U`&QX@D7552%3M@CD2"-%_Y
M:2$C<<]-JIN;IU'6@#TNQMEM8DC7^!`/\^]`%^@`H`CE7<I7U&/I0!Q*^&;F
M.%K5;@-`V1M>/D`]>0P&?0XH`F/@ZV2$)`\MNZC[\;8)^H(8?I0!-8ZC-I]R
MNFW67R,Q3?WP!D@_[6/U[4`=6K9';^5`#Z`(94+J1QSGZ<T`<UX=`M/-L#UM
MY&`]T<EE(]@I`H`Z&[F\B%I?[JEOKQ0!RFA,NGV#7MQPTS-.PZ<L<@#_`(#@
M`4`<SJ%Q).?-D"K)<D2<GF*%0`F?<\G'J:`-&UMWUE5@AS#I\.#NZ-,W\1XQ
M@$Y)ZY]J`$L[R6VO)I;:$3-D0QKNVA8XAR0<'JS-^5`'::5J?]I0F0#848HR
M]=K`\CW'3'2@#!\3:QY"+:VTF+B5E`V\D<\Y':@#7O=732;9#,=\I4*%'WF;
M')QV%`'':'>)#Y^LWS!9)&*1KU(5>,`9]?UH`BUNYN]6C+KFWMW(2-<_-(6Z
MLV#PH`Z`#ZT`6[35/LT2:9IB^9,#M=R/E!`)9L^N<4`4+"YAT>[DFU#S)KO[
MJX7(V\9V_B<4`7[[3[CQ3,)E!M$B4A6==Q<,5)!&1Z#T[T`-U?3Y]/M8$EE9
MSYR@N``5#_*".3C&?RH`UYM.T_2P+R[9I'09!=LG.."J@"@#.QJ&OR#;FUM<
M=>I8?3C!/^10!T^DZ!:Z4"85)9CDLV"?Y#B@#?`"\"@!I..U`'*:YXB6Q;[)
M;J9;IQ\JKT7/&YCSQ[8H`CT'0A#F\N\27,ASD\A?89^N*`*GBW4RFS38>);D
M@-CHL>?F/UQ[B@#E[2&1Y39V8^5F"+(/X(?XB3V+D$>V.^>`#H]&LHKR[,B*
M/LUF=D7H9.C/]<9'XT`=;]O@21H@PW1#+\_=![F@"#3]<M=39H[=MS)UXQQT
MSSB@#84YH`7`H`39_GG_`!H`"*`.;\3V;SVC/!Q-"/,C8=05^8@?4#!'O0!H
M:-?#4;2*Y'.]>?9@/F_7-`&KG%`',:AK;)+]DLD^T3G@C.$3_>8#@^V*`.>.
MH2Z?J:37RB%7AVOM)8,1GD<`X].O'>@"]JWB6TN+9XX&:1G0J-JGZ'KC%`'-
MVUS<ZFJPH#+L10L8X1,<`NW<CTP.,4`=QINA16BYN<33.,NS`8SCHH.<*.@&
M?6@"Y+=V\,3(CJNT$!05!X[`#(_E0!R-C;SVD4-_"/-!$WF(/O%6E9E*]B5!
MP<XS[4`06'VN\NIK>S/V6)V660L!O&Y0"``<<XSGM0!;O-#EM+E)[)!*VS:6
M<\ALYW'@Y^G'UH`V=.T#R_\`2;]OM%SNSN(PJY&-JKD]/7-`$Z>&;%93.4W,
M22`Q)4$]<+G%`!J'AZ"_E20LZ>4,!5.%Q]/7WH`UK/38+)=L2A0/;D^Y/<T`
M2M:1.P=D4L.A(!(^E`$I1$'/^?Z4`<%XEU>*>"2UMP99$PY8#Y$V,#R?7CI^
MM`%K1M'%\$O;YO/8@%5/"IVZ9.?TH`[01*HP.`.F.*`),8H`44`<UXB^VK#F
MP^_N.1Z@^G-`&3X8T.6#==7P)G)XSU`/Y_E0!UMY<+8Q/,Q`5%)QTZ?U)XH`
M\;>]>6>?4IV^^ODP*.3N?T'LH.?3(H`Z>QM#X?TMW<G[1<84<\Y<X4#/8%LF
M@#3:XC\.V,=LHWSR`D*.NX\EF/8#N?3M0!R^D64UV/(=\/.QEF<C),88#RQ^
M?Y4`78-0$=[-%I\:M*`(47[JJ!]YV(!XXXX)SZ4`=1HU[=12M9WY7S0N\,IX
M*Y]\'(STQ^-`&S)JMI"YB>5%<=02!C-`%Y95894@@],$4`96J:S;Z6H:8GD\
M!1DGC)./0>IXH`GAOH+F(3*RF-AD$D8P?6@#D]!U.WM+F:Q+J$64F(@\$-SC
MTZF@#<UZ^DLK0F'F9L)&.VYC@?ADT`1Z9IT>BVQ>4@N1OED/5FZDD]<4`<W8
MN/$NJ-=A?]&MEVH3T<]SMQT].:`.\CL($X$:#Z*!0`6]I%9*?+54R<G``R??
MUXH`XN6YN/$-XT%LYBM+=MLA'!=AU"D9X^N*`+M_I%GIUI+,B98!CEB2<]!S
MGC\J`*>GZ9>6<,<UDRGS(EW12$[=Q')4A21],<]:`-GP[I$M@)9KLJUQ.^YB
MN<*`,*HR,D`>PH`Z3;CIC\J`%V]J`%Q0`8QTH`,XXH`K7%RELI>0A0@R2>,#
MIG]:`.)EN;CQ))Y=FQBLP?G?^)L$<+]?7TH`NZKIEOINE31Q#:-A)/\`$3Z$
M]\T`.\$RF73TSU&5ZYZ4`=C0`4`**`&%>:`$/R].*`/,/&6I27-PFF0]&P7`
M[YZ#VQ@MSZ>I%`%30=,34KM5QBWL1@$<[Y21EN>,`#%`'3^*;6>7[,84:98I
M=[*"!T1@G4@8#[2?:@`M-$G:"6YO.;J:)U&,$1@C`">Y[GCCI0!STK3W)@AL
M5DAG'[N63:=H3!SUQSG'2@#M]'T*#2TP@S(0=SG[QSUH`EU/1H]1(<EHY5&%
MD4\C.,@CN#0!GVOA:W@C99!YLK@[I'Y))!`(],4`4;*75;*/[+]F601_*DGF
M`9`Z9&"?ZT`7]/T1]S7-^1-<2`@@?<13U5<XXQWQF@!/^$3M,@('5!_!O.W'
MI0!D^)?#R169>PC"20'>,$@D*<]>YQZXH`OW%M-J=A;31KET:*7:W&2,$C_]
M=`%'4(-5UK,,:K;09VD,V69>Y&T$?F:`.OT[3H]-B$,(V@`#\0.I^M`&B.*`
M./\`%^K'3;<1Q$":8[5&>F>]`%[PYI?]F6BJ3EWR[G_:;DT`9_B^?R;00CK,
MZI^9YH`ZJ!`B*J\```?E_P#JH`L<B@`H`*`"@`H`:QQ^1H`\_P!8NCK=ZNE0
M'$0&^<CKM4@;?Q+#\J`.SLK&*QC$4"[%`QC_`#WH`Y?QI=?9[,1*.9W5?H!R
M?Y4`:?AB'[/9HH79GGG'/3GM0!TE`!0`HH`#0!')D#Y?R_E^N*`/,M&T.[DU
M22]O$P%+8W9P2<!<>V,T`>A6MG%:@K"@16.3CC)[D_TH`M@'\!0`X\C@<T`0
M^4%^[Q_]?\*`)PNV@!:`&]/K0`W;WH`</2@!:`&%`>O3TH`14"*%48P,`=AB
M@`"E:`)*`&L<?3%`'G#!=<UHJ<&.TQP>YZ\4`>C*-@P./:@#@M=$E_JMM9)@
MI'^]?\^,T`=VBE.,_A0!+0`4`%`!0`4`4-3E-O;22#.41B,>H%`'(^"[4/`U
M])@RSL3GN`"./Y4`=P[JB[F.T`9)/8#O0!Y1?73>(=4C%L#)#"P!/(7@\L>,
M=.GKTH`]5@C\E0@'`'%`$]`!0`HH`6@`Q0`8Q0`4`%`!0`4`+0`4`)0`8H`,
M4`&*`#%`#:`'8H`::`*-]/\`9H6E/1`2?P%`'&^"K0RQ-J#_`'[AW8?[N>*`
M.^)P/<"@#@]%;[9K-Y<#E4V1+[;1R/S-`'>XP:`%H`*`"@`H`*`*UW"+B-HF
MX5P0?H10!P6BW:^&Y);"[W)"'S%(RG:01DC-`$.N^(GU)5M--S(LK[6<`@#V
M4GKZGVS0!U/A_1UTN+D#S&QG^=`'1T`%`!0`HH`=0`4`%`!0`4`%`!0`4`%`
M!0`4`%`!0`4`%`!0`TT`86OQ&6PG1>&:-L?E0!1\&OYFEP8PI5,'ZCC^E`&O
MJ%W]DMY)B<!5/-`'/>#K%K:T\V48EG=I&_$X'Z`4`=KTXH`2@`H`*`"@`H`0
MT`4;O3H;Y=LP#`$'GU%`#X;&&`@HBKC.,8XZ<T`6]H%`"T`%`!0`HH`=0`4`
M%`!0`4`%`!0`4`%`!0`4`%`!0`4`%`!0`QN*`(9D#H5/0@C\#0!PFG.WAF5K
M*X#>0[%HI54LH!YVD@''T]Z`%U>^?5S'96(\Q&8>:X&%`]*`.XMH1`H0<;0!
M^0[4`6<4`+0`4`%`!0`4`(:`&X%`"@8H`=0`4`%`!0`4`+0`4`%`!0`4`%`!
M0`4`%`!0`4`%`!0`4`%`!0`QJ``=*`(I$4]0./:@".&-49L`#GL`.PH`LB@!
=U`!0`4`%`!0`4`(:`$H`44`+0`4`%`!0`4`?_]D_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
