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<SEC-DOCUMENT>0000950123-10-096658.txt : 20110118
<SEC-HEADER>0000950123-10-096658.hdr.sgml : 20110117
<ACCEPTANCE-DATETIME>20101027162253
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950123-10-096658
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20101027

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CORE MOLDING TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0001026655
		STANDARD INDUSTRIAL CLASSIFICATION:	PLASTICS PRODUCTS, NEC [3089]
		IRS NUMBER:				311481870
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		800 MANOR PARK DRIVE
		STREET 2:		P O BOX 28183
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43228
		BUSINESS PHONE:		8006666960

	MAIL ADDRESS:	
		STREET 1:		800 MANOR PARK DR
		STREET 2:		P O BOX 28183
		CITY:			COLUMBUS
		STATE:			OH
		ZIP:			43228

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CORE MATERIALS CORP
		DATE OF NAME CHANGE:	19961107
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>Correspondence</TITLE>
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<BODY bgcolor="#FFFFFF">
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    <TD rowspan="4"><DIV style="margin-left:15px; text-indent:-15px"><IMG src="c07347c0734701.gif" alt="(SQUIRE SANDERS LOGO)"></DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left"><FONT style="font-variant: SMALL-CAPS"><B>Squire, Sanders &#038; Dempsey L.L.P.</B><br><br></FONT></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">2000 Huntington Center</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">41 South High Street</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">Columbus, Ohio  43215</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left"><br>Office: &#043;1.614.365.2700</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left">Fax: &#043;1.614.365.2499</TD>
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<DIV align="center" style="font-size: 10pt; margin-top: 10pt">October&nbsp;27, 2010
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><B><FONT style="font-variant: SMALL-CAPS">Via Edgar Correspondence</FONT></B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Securities and Exchange Commission<BR>
100 F Street, N.E.<BR>
Washington, D.C. 20549-3628

</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">Attention:</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Mr.&nbsp;Dale Welcome<br>
Mr.&nbsp;John Cash<br>
Mr.&nbsp;Edward M. Kelly<br>
Mr.&nbsp;Andrew P. Schoeffler<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Division of Corporation Finance</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><b>Re:</b></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B> Core Molding Technologies, Inc.</B><br><B>
Form&nbsp;10-K for the Fiscal Year Ended December&nbsp;31, 2009</B><br><B>
Definitive Proxy Statement on Schedule&nbsp;14A filed April&nbsp;16, 2010</B><br><B>
Forms 10-Q for the Fiscal Quarters Ended March&nbsp;31, 2010 and June&nbsp;30, 2010</B><br><B>
File No.&nbsp;001-12505</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Ladies and Gentlemen:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On behalf of our client, Core Molding Technologies, Inc. (the &#147;Company&#148;), we are responding to
the comments of the staff (the &#147;staff&#148;) of the Securities and Exchange Commission (the
&#147;Commission&#148;) set forth in your letter dated October&nbsp;13, 2010 with respect to the above-referenced
filings. To facilitate the staff&#146;s review, this letter includes each of the staff&#146;s comments in
italics, followed by the Company&#146;s response to the staff&#146;s comments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Form&nbsp;10-K
for the Fiscal Year Ended December&nbsp;31, 2009</I></U></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Cover Page</I></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>1.&nbsp;Please revise the cover page in future filings to identify your preferred stock purchase
rights as being registered under </I><I>Section 12(b)</I><I> of the Exchange Act. In this regard, we note the
Form&nbsp;8-A filed on July&nbsp;19, 2007.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U>: In response to the staff&#146;s comment, the Company will revise the cover
page in future filings to identify its preferred stock purchase rights as being registered
under Section 12(b) of the Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Index to Exhibits, page 58</I></U>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B><FONT style="font-variant: SMALL-CAPS">Squire, Sanders &#038; Dempsey L.L.P.</FONT></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Securities and Exchange Commission<BR>
October&nbsp;27, 2010<BR>
Page 2

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>2.&nbsp;We note that you did not file on EDGAR any of the appendices to the supply agreement
identified as exhibit </I><I>10(a)</I><I>. We also note that the request for confidential treatment does not
appear to cover these appendices. Please advise.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U>: The Company acknowledges the staff&#146;s comment. The Company had taken
the position with respect to this supply agreement that the appendices were not material to
an understanding of the agreement or material to an investment decision. Notwithstanding
the Company&#146;s view that the appendices do not materially enhance an investor&#146;s understanding
of the supply agreement and in that regard are, in the Company&#146;s view, immaterial, the
Company will file a complete copy of the supply agreement with its next Quarterly Report on
Form 10-Q for the quarter ended September&nbsp;30, 2010, inclusive of the previously omitted
appendices. The Company does anticipate filing an application for confidential treatment
for select portions of the re-filed supply agreement and appendices, pursuant to Rule&nbsp;24b-2
under the Exchange Act, as the supply agreement and appendices include confidential
commercial information. Going forward the Company will, in accordance with Item&nbsp;601(b)(10)
of Regulation&nbsp;S-K, file complete copies of all future material definitive agreements,
inclusive of exhibits, schedules, appendices or other attachments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>3.&nbsp;We note that you did not file on EDGAR any of the schedules to the supply agreement
identified as exhibit </I><I>10(b)</I><I>. We also note that the request for confidential treatment does not
appear to cover all of these schedules. Please advise.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U>: The Company acknowledges the staff&#146;s comment. Similar to the supply
agreement identified as exhibit 10(a), the Company had taken the position with respect to
this supply agreement that the schedules were not material to an understanding of the
agreement, or material to an investment decision. As discussed in response to the staff&#146;s
comment 16 below, this supply agreement has since expired, and is no longer in effect.
Accordingly, the Company respectfully submits that filing the immaterial omitted schedules
at this time is not necessary. These schedules are voluminous in nature and include
extensive technical data with respect to product specifications and performance. Going
forward the Company will, in accordance with Item&nbsp;601(b)(10) of Regulation&nbsp;S-K, file
complete copies of all future material definitive agreements, inclusive of exhibits,
schedules, appendices or other attachments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>4.&nbsp;We note that you did not file on EDGAR all of the schedules to the credit agreement
identified as exhibit </I><I>10(d)</I><I>. We also note that you did not file on EGDAR the attachments to
exhibits K and L to the credit agreement. Please file your complete credit agreement, including
all schedules and exhibits, with your next periodic report or, if you wish, a current report on
Form&nbsp;8-K.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U>: The Company acknowledges the staff&#146;s comment and will file a complete
copy of its credit agreement, including all schedules, exhibits and attachments, with its
next Quarterly Report on Form 10-Q for the quarter ended September&nbsp;30, 2010.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B><FONT style="font-variant: SMALL-CAPS">Squire, Sanders &#038; Dempsey L.L.P.</FONT></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Securities and Exchange Commission<BR>
October&nbsp;27, 2010<BR>
Page 3

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Item&nbsp;7. Management&#146;s Discussion and Analysis of Financial Condition and Results of </I></U> <U><I>Operations, page 19 </I></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Results of Operation, page 20</I></U>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%"><I>5. In future annual and quarterly filings please:</I>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>expand your discussion of net sales to address and quantify the impact that
volume sold, number of tooling projects completed and/or selling price had on
fluctuations in sales from period-to-period;</I></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>revise your discussion of gross margin to also quantify your raw material
costs, energy costs, and any other costs that significantly impact changes in
cost of sales from period-to-period; and</I></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>quantify the significant reasons you identify for changes in SG&#038;A expenses.
See Sections&nbsp;501.04 and 501.12 of the Codification of Financial Reporting
Policies for guidance.</I></TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U><B>: </B>The Company acknowledges the staff&#146;s comment and has reviewed the
referenced guidance in Section&nbsp;501.4 and 501.12 of the Codification of Financial Reporting
Policies. In future annual and quarterly filings the Company will provide additional
discussion and disclosure as indicated above.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%">The Company notes that with respect to quantifying the impact from the number of
tooling projects completed, tooling project sales are sporadic in nature and fluctuate in
regard to scope and related revenue. Therefore, the Company does not believe that the
specific number of tooling projects actually completed for a given period are necessarily
meaningful to an understanding of sales fluctuations. The Company will however make
appropriate disclosure in the future to ensure that its discussion of net sales is
appropriately expanded, and includes those areas that the Company believes are meaningful to
an understanding of period-to-period sales fluctuations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Liquidity and Capital Resources, page 22</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>6.&nbsp;Given the importance of available funding to your business, if you believe that it is
reasonably likely that you will not meet any significant debt covenant, please revise future
filings to also present, for your most significant covenants, your actual ratios and other actual
amounts versus the minimum/maximum ratios/amounts permitted as of each reporting date. Such
presentation will allow an investor to easily understand your current status in meeting your
financial covenants. Refer to Section&nbsp;501.13.c of the Financial Reporting Codification for
guidance.</I>
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B><FONT style="font-variant: SMALL-CAPS">Squire, Sanders &#038; Dempsey L.L.P.</FONT></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Securities and Exchange Commission<BR>
October&nbsp;27, 2010<BR>
Page 4

</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U><B>: </B>The Company acknowledges the staff&#146;s comment and has reviewed the
referenced guidance in Section&nbsp;501.13.c of the Codification of Financial Reporting Policies.
At each annual and interim reporting period the Company evaluates compliance with all
significant debt covenants and completes an analysis to validate the Company&#146;s ability to
effectively meet all significant covenants for the next twelve months, based on the
Company&#146;s forecast. The Company also considers certain negative volatility to that forecast
when evaluating its ability to meet significant covenants. The Company has determined and
disclosed that it expected to maintain compliance with all significant covenants. In the
future if the Company were to determine that there was reasonable likelihood that it may not
meet a covenant, the Company will provide quantitative and qualitative disclosure as
required in Section&nbsp;501.13.c of the Financial Reporting Codification.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Definitive Proxy Statement on Schedule&nbsp;14A filed April&nbsp;16, 2010</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Directors and Executive Officers of Core Molding Technologies, Inc., page 6</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>7.&nbsp;Please disclose in future filings the business experience during the past five years of
Messrs.&nbsp;Thomas R. Cellitti and Malcolm M. Prine. Refer to Item&nbsp;</I><I>401(e)(1)</I><I> of Regulation&nbsp;S-K.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U>: The Company acknowledges the staff&#146;s comment and will disclose in
future filings the business experience during the past five years of Messrs.&nbsp;Cellitti and
Prine.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Executive Compensation, page 12</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>8.&nbsp;We note that you have not included any disclosure in response to </I><I>Item 402(s)</I><I> of Regulation
S-K. Please advise us of the basis for your conclusion that disclosure is unnecessary and describe
the process that you undertook to reach that conclusion.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U>: The Company&#146;s Chief Executive Officer in conjunction with the
Director of Human Resources examines, on an annual basis, the compensation for all
employees, including named executive officers, and develops initial recommendations for the
salary component of compensation for consideration by the Board of Directors of the Company
(the &#147;Board&#148;). As part of this process, the Company&#146;s Chief Executive Officer concluded
that the Company&#146;s policies and practices with respect to compensation do not create risks
that are reasonably likely to have a material adverse effect on the Company. These
recommendations with respect to compensation were presented to the full Board for
consideration and approval.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%">While the Company does not have a separately constituted Compensation Committee, the
independent members of the Company&#146;s Board review, recommend, approve and set compensation
policies as it relates to the Company&#146;s named executive officers, and also consider the
overall policies and practices utilized by senior management with respect to establishing
compensation for all other employees. As part of that review process the Board agreed with
the assessments of the Company&#146;s Chief
Executive Officer, and as part of its determination to approve the current compensation
packages, determined that the Company&#146;s policies and practices with respect to compensation
are not reasonably likely to have a material adverse effect on the Company.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B><FONT style="font-variant: SMALL-CAPS">Squire, Sanders &#038; Dempsey L.L.P.</FONT></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Securities and Exchange Commission<BR>
October&nbsp;27, 2010<BR>
Page 5

</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%">In reaching the foregoing conclusions, both the Board and the Chief Executive Officer
assessed the risks associated with the Company&#146;s compensation policies and practices. The
basis for these conclusions included:
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Consideration of the Company&#146;s existing compensation programs, and the
allocation between each primary component of compensation (base salary, annual
profit sharing and long-term equity based compensation); and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a consideration of the risks associated with the Company&#146;s business, and
whether the Company&#146;s compensation policies and practices increased those
risks.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%">Based on the foregoing, management and the independent members of the Board approved
the Company&#146;s compensation programs, and in connection with such approval concluded that the
risks associated with the Company&#146;s compensation policies and practices are not reasonably
likely to have a material adverse effect on the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%">In connection with the preparation of the proxy statement for the 2011 annual meeting
of stockholders, the Company&#146;s management and the independent members of the Board will
conduct similar assessments of whether the Company&#146;s compensation practices, including
compensation practices for other employees, create risk-taking incentives that could
reasonably be expected to have a material adverse effect on the Company, and will report
those findings in light of the disclosure requirements under Item 402(s) of Regulation&nbsp;S-K.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Elements of Direct Compensation, page 12</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>9.&nbsp;We note the disclosure under &#147;Peer Group Analysis&#148; on page 13 that you target your
compensation to the median of your peer group. With a view towards future disclosure, please tell
us each element of compensation and total compensation where actual compensation fell compared to
the peer group.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U>: As disclosed on page 13 of the Company&#146;s proxy statement, the Company
collects competitive data regarding base salaries, annual bonuses and long-term incentive
awards from the peer group companies identified. The Company&#146;s Board primarily looks to the
base salary component of the peer group as a guide in establishing the base pay component
for the Company&#146;s named executive officers, although no salary increases have been
authorized by the Board due to current economic conditions since it last collected peer
group data in 2008.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%">As a general matter the Board does not look to the peer group for purposes of
benchmarking specific equity awards and non-equity bonus compensation. Equity
awards in the form of restricted stock awards are, as described in response to comment
11 below, consistently calculated as 30% of each named executive officer&#146;s annual base
salary, less any annual compensation expense associated with previous stock option grants,
divided by the Company&#146;s stock price on the date of grant. Non-equity awards in the form of
profit sharing are, as described in response to comment 10 below, based upon a formula for
participation and a profit sharing threshold equal to 8.0% of the Company&#146;s adjusted average
assets.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B><FONT style="font-variant: SMALL-CAPS">Squire, Sanders &#038; Dempsey L.L.P.</FONT></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Securities and Exchange Commission<BR>
October&nbsp;27, 2010<BR>
Page 6

</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%">The level of base compensation as compared to the Company&#146;s peer group is only one of
several factors that the independent members of the Board consider in setting base
compensation, and is considered as a reference point to balance the costs of the Company&#146;s
compensation program with expected performance. As disclosed in the Company&#146;s proxy
statement, the Company considers a variety of factors in establishing each element of
compensation, including the named executive officer&#146;s position, skills and experience,
individual performance, cyclicality in the Company&#146;s business and the salaries of executives
with comparable positions and responsibilities at peer companies.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%">The Company generally targets base salary for each named executive officer based upon
the median, but also looks to where base salary falls with respect to the average of all
base salary amounts within the peer group. For the years 2007 through 2009, the base salary
component for each of the Company&#146;s named executive officers has been lower than the average
for each category of named executive officer in the peer group.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%">Each element of compensation and total compensation for the Company&#146;s named executive
officers for 2009 is set forth below, along with the 2008 peer group average for comparison
purposes:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6"><B>Non-Equity</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6"><B>Total</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000"><B>Base Salary</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000"><B>Compensation</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000"><B>Equity Awards</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="6" style="border-bottom: 1px solid #000000"><B>Compensation</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Peer</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Peer</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Peer</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Peer</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Group</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Group</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Group</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Group</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 10pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Actual</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Average</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Actual<B>*</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Average</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Actual</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Average</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Actual</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">Average</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Kevin L. Barnett<br>
President and Chief
Executive Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">251,619</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">402,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">109,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">81,002</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">83,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">352,220</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">669,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Stephen J. Klestinec<br>
VP &#038; COO</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">205,023</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">289,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">44,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">65,999</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">48,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">288,024</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">393,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff; padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Herman F. Dick, Jr.<br>
VP, Secretary,
Treasurer and CFO</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">186,385</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">258,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">49,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">41,293</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">47,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">243,468</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">379,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Terrence J. O&#146;Donovan<br>
VP of Marketing and Sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">151,864</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">192,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">68,063</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">72,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">232,057</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">282,000</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="left"><DIV style="font-size: 10pt; margin-top: 10pt; width: 18%; border-bottom: 1px solid #000000">&nbsp;</DIV></DIV>




<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR style="font-size: 6pt">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96">&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>*</B></TD>
    <TD>&nbsp;</TD>
    <TD>Non-equity compensation was not awarded to named executive officers in 2009.</TD>
</TR>

</TABLE>



<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%">The Company will provide additional disclosures in future filings with respect to its
peer group analysis consistent with the above.
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B><FONT style="font-variant: SMALL-CAPS">Squire, Sanders &#038; Dempsey L.L.P.</FONT></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Securities and Exchange Commission<BR>
October&nbsp;27, 2010<BR>
Page 7

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Profit Sharing Program, page 14</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>10.&nbsp;With a view towards future disclosure, please tell us the threshold amount and how it was
calculated as well as the actual amount of the profit sharing pool.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U>: As discussed on page 15 of the Company&#146;s proxy statement, the profit
sharing threshold amount is equal to 8.0% of the Company&#146;s &#147;adjusted average assets.&#148;
Adjusted average assets include the Company&#146;s total assets on a consolidated basis, plus the
net present value of leased equipment, less cash, construction in process, deferred tax
assets and intangible assets. The intent of such threshold is to begin creating a profit
sharing pool only after the Company has achieved a reasonable return on assets employed in
the operations of the Company. For 2009 the threshold was $4,846,000. The profit sharing
pool is calculated as 50% of the earnings before taxes (&#147;EBT&#148;) above the aforementioned
threshold. The profit sharing pool is limited to a maximum of 20% of total EBT before
profit sharing. In 2009 the profit sharing pool was zero as EBT did not exceed the
threshold. The Company will provide additional disclosure regarding the calculation of the
threshold amount and how it was calculated, along with the actual amount of any profit
sharing pool similar to the above in future filings.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>11.&nbsp;We note the disclosure in footnote (2)&nbsp;to the summary compensation table on page 18 that
you awarded profit sharing amounts to your named executive officers for 2009. With a view towards
future disclosure, please tell us how the amounts were determined for each named executive officer.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U>: The profit sharing amounts paid out in 2009 were earned in 2008,
based on the 2008 EBT in excess of the profit sharing threshold, which was calculated as
described in response to comment 10 above. For 2008 the threshold was $4,340,000. In 2008
the total profit sharing pool was $2,125,000. As disclosed on page 15 of the Company&#146;s
proxy statement, the Company&#146;s named executive officers are allocated approximately 23% of
the profit sharing pool in accordance with the cash profit sharing plan (the &#147;Executive
Officer Profit Sharing Pool&#148;). For 2008 the Executive Officer Profit Sharing Pool totaled
$485,147. Each named executive officer received a portion of the Executive Officer Profit
Sharing Pool based upon the ratio of their 2008 base salary to the total 2008 base salaries
for all named executive officers in the aggregate. The 2008 profit sharing for all
employees, including executive officers was paid out in 2009 as indicated in footnote (2)&nbsp;to
the summary compensation table. The Company will provide additional disclosures in the
future similar to the above to disclose how any cash profit sharing amounts are determined
for each named executive officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Long-Term Stock-Based Compensation, page 15</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>12.&nbsp;We note that your current disclosure does not meaningfully explain how the board of
directors determined the amounts of shares of restricted stock awarded to each of the named
executive officers, to what extent there were any specific performance targets which were met or
exceeded, and why the actual amounts of shares of restricted stock awarded to each named
executive officer in 2009 were appropriate under the circumstances. With a view towards future
disclosure, please provide us this information.</I>
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B><FONT style="font-variant: SMALL-CAPS">Squire, Sanders &#038; Dempsey L.L.P.</FONT></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Securities and Exchange Commission<BR>
October&nbsp;27, 2010<BR>
Page 8

</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U>: In regard to restricted stock grants to the named officers, the
Company has no established specific performance targets. Annual restricted stock grants are
consistently calculated at 30% of each named executive officer&#146;s annual base salary, less
any annual compensation expense associated with previous stock option grants, divided by the
Company&#146;s share price on the date the restricted stock grant is issued. Pro rata
consideration is given to the date of hire for new named executive officers with respect to
the grant date for restricted stock. The Company&#146;s restricted stock grants are part of the
overall compensation mix for named executive officers and the Board believes that awarding
restricted stock equal to 30% of the named executive officer&#146;s base pay helps to achieve the
Company&#146;s overall compensation objectives of incentivizing executives in order to attract,
motivate and reward their efforts on behalf of the Company and its stockholders. The Board
also believes that this amount sufficiently aligns the interests of the Company&#146;s named
executive officers with stockholders in order to achieve long-term growth. The Company will
provide additional disclosures in the future similar to the above to explain how the Board
determines the amount of shares of restricted stock to award.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Summary Compensation Table, page 18</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>13.&nbsp;We note the disclosure in footnote (2). Please tell us how you disclose profit sharing
amounts in the table.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U>: The Company refers the staff to its response to comment 11 above,
which outlines the manner by which the Company discloses profit sharing amounts in the
Summary Compensation Table.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Audit Fees, page 26</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>14.&nbsp;In future filings, please provide audit fees for two fiscal years as required by Item&nbsp;9 of
Schedule&nbsp;14A.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U>: The Company acknowledges the staff&#146;s comment and will provide in
future filings audit fees for two fiscal years as required by Item&nbsp;9 of Schedule&nbsp;14A.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Certain Relationships and Related Person Transactions, page 27</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>15.&nbsp;With a view towards future disclosure, please tell us whether sales to Navistar are made
on the same terms as sales to other customers.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U>: The Company acknowledges the staff&#146;s comment, and notes that sales
to Navistar are made on substantially the same terms as any significant customer that is not
affiliated with the Company. The terms to Navistar are negotiated on an arm&#146;s length
basis, and are consistent with terms that are made with other similar significant
customers. The Company will make such disclosure in future filings that describe the
Company&#146;s relationships with related persons and related party transactions.
</DIV>
<P align="center" style="font-size: 10pt; text-indent: 4%">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B><FONT style="font-variant: SMALL-CAPS">Squire, Sanders &#038; Dempsey L.L.P.</FONT></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Securities and Exchange Commission<BR>
October&nbsp;27, 2010<BR>
Page 9

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Form&nbsp;10-Q for the Fiscal Quarter Ended June&nbsp;30, 2010 </I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>General</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>16.&nbsp;We note the disclosure on page 5 of your </I><I>Form 10-K</I><I> for the year ended December&nbsp;31, 2009
that your supply agreement with PACCAR would expire on June&nbsp;30, 2010 unless extended by the
parties. However, it does not appear that you have filed a current report on </I><I>Form 8-K</I><I> regarding the
renewal or expiration of this supply agreement and there is no disclosure in your Form&nbsp;10-Q
regarding this issue. Please advise.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 4%; text-indent: 4%"><U><B>Response</B></U>: The Company acknowledges the staff&#146;s comment, and notes that the
supply and management agreement with PACCAR Inc. as described in the Company&#146;s Form 10-K has
since expired, although the Company continues to supply PACCAR with products based on terms
and specifications as previously set forth in the supply agreement. The Company is in the
process of negotiating a new supply agreement with PACCAR and will make appropriate
disclosure regarding the entry into this agreement as necessary in future filings.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><I>Index to Exhibits, page 27</I></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%"><I>17.&nbsp;We note that you have identified the fifth amendment agreement as exhibit </I><I>10(a)</I><I> to the
Form&nbsp;10-Q. We also note that you have incorporated this agreement by reference from exhibit 10.1 to
your </I><I>Form 8-K</I><I> filed March&nbsp;10, 2010. However, this agreement was filed as an exhibit to your Form
8-K filed May&nbsp;14, 2010. Please revise accordingly in future filings.</I>
</DIV>

<DIV align="left" style="margin-top: 10pt; margin-left: 4%; font-size: 10pt; text-indent: 4%"><U><B>Response</B></U>: The Company acknowledges the staff&#146;s comment and will revise
this reference accordingly in future filings.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt">* * * *
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">We appreciate the efforts of the staff and look forward to resolving the above comments as
soon as possible. In response to the above comments, the Company has also executed a written
statement acknowledging certain items referenced in the closing of your original letter, which is
attached hereto as <U>Appendix&nbsp;A</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Please contact the undersigned at (614)&nbsp;365-2759 if you have any questions regarding the
above.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Very truly yours,<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Aaron A. Seamon
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Aaron A. Seamon&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">



<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B><FONT style="font-variant: SMALL-CAPS">Squire, Sanders &#038; Dempsey L.L.P.</FONT></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Securities and Exchange Commission<BR>
October&nbsp;27, 2010<BR>
Page 10

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="95%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">cc:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Kevin L. Barnett, President and Chief Executive Officer</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Herman F. Dick, Jr., Vice President, Secretary, Treasurer and Chief Financial Officer</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Core Molding Technologies, Inc.)</TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">



<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><U>Appendix&nbsp;A</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">In response to the request by the staff of the Securities and Exchange Commission (the
&#147;Commission&#148;) in its comment letter to the Company dated October&nbsp;13, 2010, through execution of
this statement, the Company hereby acknowledges the following: (i)&nbsp;the Company is responsible for
the adequacy and accuracy of the disclosures in its filings; (ii)&nbsp;staff comments or changes to
disclosure in response to staff comments do not foreclose the Commission from taking any action
with respect to the filings; and (iii)&nbsp;the Company may not assert staff comments as a defense in
any proceeding initiated by the Commission or any person under the federal securities laws of the
United States.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>CORE MOLDING TECHNOLOGIES, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Herman F. Dick, Jr.
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Herman F. Dick, Jr.&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Vice President, Secretary, Treasurer and<BR>
Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">October&nbsp;27, 2010
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->A-1<!-- /Folio -->
</DIV>



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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
