<SEC-DOCUMENT>0001144204-12-046375.txt : 20120815
<SEC-HEADER>0001144204-12-046375.hdr.sgml : 20120815
<ACCEPTANCE-DATETIME>20120815170055
ACCESSION NUMBER:		0001144204-12-046375
CONFORMED SUBMISSION TYPE:	424B2
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20120815
DATE AS OF CHANGE:		20120815

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACORN ENERGY, INC.
		CENTRAL INDEX KEY:			0000880984
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ENGINEERING SERVICES [8711]
		IRS NUMBER:				222786081
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B2
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-169434
		FILM NUMBER:		121037704

	BUSINESS ADDRESS:	
		STREET 1:		3903 CENTERVILLE ROAD
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19807
		BUSINESS PHONE:		3026561708

	MAIL ADDRESS:	
		STREET 1:		3903 CENTERVILLE ROAD
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19807

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ACORN FACTOR, INC.
		DATE OF NAME CHANGE:	20060920

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DATA SYSTEMS & SOFTWARE INC
		DATE OF NAME CHANGE:	19931019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DEFENSE SOFTWARE & SYSTEMS INC
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
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<SEQUENCE>1
<FILENAME>v321651_424b2.htm
<DESCRIPTION>424B2
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Filed Pursuant to Rule 424(b)(2)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="color: black"><B>Registration
No. 333-</B></FONT><B>169434</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>PROSPECTUS SUPPLEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><img src="logo.jpg"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Dividend Reinvestment Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>600,000 shares of Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus supplement
relates to 600,000 shares of common stock, $0.01 par value, of Acorn Energy, Inc. (&ldquo;Acorn&rdquo;), which may be offered and
sold from time to time pursuant to the terms of the Acorn Energy, Inc. Dividend Reinvestment Plan (the &ldquo;Plan&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Plan provides participants
with a convenient and economical method for investing cash dividends in additional shares of Acorn common stock. This prospectus
supplement describes and constitutes the Acorn Energy, Inc. Dividend Reinvestment Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Shares of common stock
will either be purchased directly from Acorn or in the open market. Initially, we intend to issue the shares under the Plan directly
from Acorn at a 5% discount from the market price. We reserve the right to change or eliminate the discount in our sole discretion.
See &ldquo;Information About the Plan&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Our
common stock is listed on the NASDAQ Global Market under the symbol &ldquo;ACFN.&rdquo; On August 14, 2012, the closing price of
our common stock was $8.15 per share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Please read this prospectus
supplement carefully and keep it and any future investment statements for your reference. If you have any questions about the Plan,
please call the Plan administrator, American Stock Transfer&nbsp;&amp; Trust Company, LLC, or &ldquo;AST,&rdquo; toll free at (877)&nbsp;276-7523,
24 hours a day, seven days a week. Customer service representatives are available Monday through Friday, between the hours of 8:00
A.M. and 7:00 P.M. Eastern time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Investing in
our common stock involves a high degree of risk. You should carefully review the risks and uncertainties described in this prospectus
supplement, any applicable prospectus supplement or free writing prospectus and in our filings with the Securities and Exchange
Commission, and under similar headings in the other documents that are incorporated by reference into this prospectus supplement
before enrolling in the Plan and investing in our common stock.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Neither the Securities
and Exchange Commission nor any state securities</B> <B>commission has approved or disapproved of these securities or determined
if</B> <B>this prospectus supplement is truthful or complete. Any representation to the contrary is</B> <B>a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.2in">The date of this Prospectus
Supplement is August 15, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.2in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>You should rely
only on the information contained or incorporated by</B> <B>reference in this prospectus supplement. We have not authorized anyone
to provide you with</B> <B>different or additional information. We are not making an offer of these</B> <B>securities in any state
where the offer is not permitted. You should not assume</B> <B>that the information provided by this prospectus supplement is accurate
as of any date</B> <B>other than the date on the front of this prospectus supplement. Our business, financial</B> <B>condition,
results of operations and prospects may have changed since then.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;<B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="width: 90%; padding-right: 2.35pt; padding-left: 2.35pt; text-align: justify">ABOUT THIS PROSPECTUS SUPPLEMENT</TD>
    <TD STYLE="width: 10%; padding-right: 2.35pt; padding-left: 2.35pt; text-align: right">1</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: justify">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: right">1</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: justify">ABOUT ACORN ENERGY</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: right">2</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: justify">RISK FACTORS</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: right">3</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: justify">USE OF PROCEEDS</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: right">3</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: justify">INFORMATION ABOUT THE PLAN</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: right">3</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: justify">DESCRIPTION OF CAPITAL STOCK</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: right">11</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: justify">PLAN OF DISTRIBUTION</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: right">12</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: justify">LEGAL MATTERS</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: right">12</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: justify">EXPERTS</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: right">12</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: justify">WHERE YOU CAN FIND MORE INFORMATION</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: right">12</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: justify">INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</TD>
    <TD STYLE="padding-right: 2.35pt; padding-left: 2.35pt; text-align: right">13</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ABOUT THIS PROSPECTUS SUPPLEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus supplement
and the base prospectus are part of a registration statement on Form S-3 that we initially filed on September 16, 2010 with the
Securities and Exchange Commission (&ldquo;SEC&rdquo;) using a &ldquo;shelf&rdquo; registration process and which was declared
effective on October 27, 2010. The registration statement, including the base prospectus, and documents incorporated by reference
herein can be obtained from the SEC as described below under the heading &ldquo;Where You Can Find More Information.&rdquo; You
should read this prospectus supplement and the information incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The number of shares
offered by this prospectus supplement at any time may not exceed the amount then available for issuance under the shelf registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You should rely only
on the information contained in this prospectus supplement and the base prospectus, any applicable prospectus supplement and those
documents incorporated by reference herein. We have not authorized anyone to provide you with different information. This prospectus
supplement may only be used where it is legal to sell these securities. This prospectus supplement is not an offer to sell, or
a solicitation of an offer to buy, in any state where the offer or sale is prohibited. The information in this prospectus supplement
and the base prospectus, any prospectus supplement or any document incorporated herein or therein by reference is accurate as of
the date contained on the cover of such documents. Neither the delivery of this prospectus supplement and the base prospectus or
any prospectus supplement, nor any sale made under this prospectus supplement or any prospectus supplement will, under any circumstances,
imply that the information in this prospectus supplement or any prospectus supplement is correct as of any date after the date
of this prospectus or any such prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SPECIAL NOTE REGARDING FORWARD-LOOKING
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus
supplement and the registration statement of which it forms a part, any prospectus supplement and the documents incorporated
by reference into these documents contain forward-looking statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. We use words such as
&ldquo;anticipates,&rdquo; &ldquo;believes,&rdquo; &ldquo;plans,&rdquo; &ldquo;expects,&rdquo; &ldquo;future,&rdquo;
&ldquo;intends,&rdquo; &ldquo;will,&rdquo; &ldquo;foresee&rdquo; and similar expressions to identify these forward-looking
statements. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as
assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements.
Factors that might cause actual results to differ include, but are not limited to, those referenced in the section entitled
&ldquo;Risk Factors&rdquo; beginning on page 3 of this prospectus supplement. Readers are cautioned not to place undue
reliance on any forward-looking statements contained herein, which reflect management&rsquo;s opinions only as of the date
hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to
any forward-looking statements. You are advised, however, to consult any additional disclosures we have made or will make
in our reports to the SEC on Forms 10-K, 10-Q and 8-K. All subsequent written and oral forward-looking statements
attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements
contained in this prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ABOUT ACORN ENERGY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>This summary description
of us and our business highlights selected</I> <I>information contained elsewhere in this prospectus supplement or incorporated
herein by</I> <I>reference. This summary may not contain all of the information that you should</I> <I>consider before buying securities
in this offering. You should carefully read</I> <I>this entire prospectus supplement, the base prospectus and any applicable prospectus
supplement or free writing</I> <I>prospectus, including each of the documents incorporated herein or therein by</I> <I>reference,
before making an investment decision. As used herein, &ldquo;we,&rdquo; &ldquo;us,&rdquo;</I> <I>and &ldquo;our&rdquo; refer to
Acorn Energy, Inc. and its subsidiaries.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Acorn is a holding
company focused on technology driven solutions for energy infrastructure asset management. &nbsp;Our four businesses improve the
world's energy infrastructure by making it more secure by providing security solutions for underwater energy infrastructure (DSIT),
more reliable by providing condition monitoring instruments for critical assets on the electric grid (GridSense and OmniMetrix
LLC) and more productive and efficient by increasing oil and gas production while lowering costs through use of ultra-high sensitive
seismic tools for more precise pinpointing of oil and gas reservoirs (USSI).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Through our majority
or wholly-owned operating subsidiaries we provide the following services and products:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><B>Energy &amp; Security
Sonar Solutions.</B>&nbsp;&nbsp;We provide sonar and acoustic related solutions for energy, defense and commercial markets with
a focus on underwater site security for strategic energy installations and other advanced acoustic systems and real-time embedded
hardware and software development and production through our DSIT Solutions Ltd. subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><B>Smart Grid Distribution
Automation.&nbsp;&nbsp;</B>These<B>&nbsp;</B>products and services are provided by our GridSense subsidiaries which develop, market
and sell remote monitoring and control systems to electric utilities and industrial facilities worldwide.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><B>Energy and Security
Sensor Systems.&nbsp;&nbsp;</B>These products and services are provided by our US Seismic Systems, Inc. subsidiary which develops
and produces &ldquo;state of the art&rdquo; fiber optic sensing systems for the energy, commercial security and defense markets
worldwide.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">&nbsp;<B>Power Generation
(PG) Monitoring.&nbsp;&nbsp;</B>These products and services are provided by our OmniMetrix, LLC subsidiary. OmniMetrix's PG products
and services deliver critical, real-time machine information to customers and provide remote diagnostics that give users real control
over their equipment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Our Corporate Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our executive offices
are located at 3903 Centerville Road, Wilmington, Delaware 19807. Our telephone number at that location is (302) 656-1707, and
our website can be accessed at www.acornenergy.com. Information contained in our website does not constitute part of this prospectus
supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RISK FACTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>An investment in
our securities involves a high degree of risk. You should</I> <I>carefully consider the specific risks described under the heading
&ldquo;Risk</I> <I>Factors&rdquo; in the applicable prospectus supplement, and under the caption &ldquo;Risk</I> <I>Factors&rdquo;
in any of our filings with the SEC pursuant to Sections 13(a), 14 or</I> <I>15(d) of the Exchange Act, which are incorporated herein
by reference, before</I> <I>making an investment decision. Each of the risks described could adversely and materially affect our
business, financial conditions and</I> <I>operating results. As a result, the trading price of our common stock could</I> <I>decline
and you may lose all or a part of your investment in our common stock.</I> <I>For more information see &ldquo;Where You Can Find
More Information&rdquo; on page 12 of this prospectus supplement and</I> <I>&ldquo;Incorporation of Certain Documents By Reference,&rdquo;
on page 13 of this prospectus supplement.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>USE OF PROCEEDS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless we state otherwise
in a prospectus supplement accompanying this prospectus supplement, we expect to use the proceeds from the sales of common stock
by us under the Plan for general corporate purposes, including working capital and possible acquisitions. We have no basis for
estimating the number of shares of common stock that ultimately will be sold by us under the Plan or the prices at which such shares
will be sold. We will not receive any proceeds from sales of common stock to Plan participants obtained in open market purchases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION ABOUT THE PLAN </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>1.</B>&#9;<B>&nbsp;&nbsp;&nbsp;What is the purpose of the
Plan? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The purpose of the
Plan is to provide stockholders with a simple and convenient method of reinvesting cash dividends paid on shares of our common
stock. The Plan allows participants to have all or a portion of cash dividends paid on their shares of our common stock automatically
reinvested to purchase shares of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt"><B>2.&#9;&nbsp;&nbsp;&nbsp;What
are the advantages of the Plan?</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">Participants may increase
their holdings of Acorn common stock through the reinvestment of cash dividends received on previously owned shares of common stock
registered in their names or held for their account within the Plan without incurring any brokerage commissions and fees in connection
with purchases under the Plan. Initially, we intend to issue shares under the Plan at a 5% discount to the market price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt"><FONT STYLE="font-size: 10pt">Regular
account statements will provide participants in the Plan with a record of each transaction. Participation in the plan is entirely
voluntary. You may join or terminate your participation at any time prior to a particular cash dividend record date by making timely
written notice to the Plan administrator.</FONT> <FONT STYLE="font-size: 10pt">You can access these services through the Plan administrator&rsquo;s
website, www.amstock.com at &ldquo;Invest Online&rdquo; under the &ldquo;Shareholders&rdquo; tab.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>3. &nbsp;What are the disadvantages or risks
of the Plan? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">In addition to those risks
of an investment in our stock set forth or referenced in the section titled &ldquo;Risk Factors&rdquo; above, the disadvantages
or risks of the Plan include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Participants bear all the risk of loss that may result from market fluctuations in the price
of Acorn stock</I>. Participants must bear the market risk associated with fluctuations in the price of our stock. You cannot designate
a specific price or date at which to purchase or sell shares held in the Plan. Your ability to purchase or sell shares is subject
to the terms of the Plan. You may not be able to purchase or sell your shares in the Plan in time to react to market conditions.
In addition, you will not know the exact number of shares purchased until after the investment date.</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>We do not guarantee the payment of future dividends</I>. Our Board of Directors has the sole
discretion to declare and pay dividends. Although we have recently paid cash dividends on a regular basis, the amount and timing
of any dividends may be changed at any time without notice.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Long-term investment</I>. The market price for our stock varies, and you should purchase
                                                                                                               shares for long-term investment only. Although our stock currently is traded on the NASDAQ Global Market, we cannot assure you that
                                                                                                               there                                                                                                                will at
                                                                                                               any time in the future be an active trading market for our stock. Even if there is an active trading market for our
                                                                                                               stock, we cannot assure you that you will be able to sell all of your shares at one time or at a favorable price, if at all.
                                                                                                               As a result, you should participate in the Plan only if you are capable of making, and seeking to make, a long-term
                                                                                                               investment in our stock.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>4.</B>&#9;<B>&nbsp;&nbsp;&nbsp;&nbsp;Who administers the Plan
for participants? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">American Stock Transfer
&amp; Trust Company, LLC, Acorn&rsquo;s stock transfer agent, administers the Plan for participants by (i)&nbsp;directing the purchase
of our common stock with the cash dividends to be reinvested, (ii)&nbsp;maintaining records, (iii)&nbsp;sending account statements
to participants and (iv)&nbsp;performing other duties relating to the Plan. The Plan administrator acts in the capacity as agent
for participants in the Plan. We may replace the Plan administrator at any time in our sole discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">You should send all
correspondence with the administrator to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.45pt; text-align: left">American Stock Transfer&nbsp;&amp;
Trust Company, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.45pt; text-align: left">6201 15<SUP>th</SUP> Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.45pt; text-align: left">Brooklyn, NY 11219</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24.5pt">All transaction processing
should be directed to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.45pt; text-align: left">American Stock Transfer&nbsp;&amp;
Trust Company, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.45pt; text-align: left">P.O. Box 922</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.45pt; text-align: left">Wall Street Station</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.45pt; text-align: left">New York, NY 10269-0560</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24.45pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Please reference
Acorn Energy, Inc. (NASDAQ symbol &ldquo;ACFN&rdquo;) and this Plan in all correspondence. In addition, you may call the Plan
administrator at (877)&nbsp;276-7523 or contact the Plan administrator via the internet at <U>www.amstock.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><B>5.
&nbsp;&nbsp;&nbsp;Who is eligible to enroll in the Plan? How do I enroll?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.5pt; text-align: justify; text-indent: -19.5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The following persons
are eligible to participate in the Plan:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><B><I>Record Owners.
</I></B>All record owners (stockholders whose shares are held in their name on the records kept by our transfer agent) of shares
of our common stock are eligible to participate directly in the Plan. Record owners may join the Plan by completing and signing
an Authorization Form and returning it to the Plan administrator or by following the enrollment procedures specified on the Plan
administrator&rsquo;s website at <U>www.amstock.com</U>, at &ldquo;Invest Online&rdquo; under the &ldquo;Shareholders&rdquo; tab,
or by contacting the Plan administrator at the address or telephone number provided in Question 4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt"><B><I>Beneficial Owners.</I></B>
Beneficial owners (stockholders whose shares are held in the name of a broker, bank or other nominee on the records kept by our
transfer agent) of shares of our common stock may participate in two ways. A beneficial owner may seek to participate through his
broker, bank or other nominee. The Plan administrator has arrangements in place with the Depository Trust Company (which acts as
the depository for its member brokers) to allow brokers to participate in the Plan. A beneficial owner may also participate directly
in the Plan by becoming a record owner by having his shares transferred into a record owner position at the transfer agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">If you are a beneficial
owner interested in participating in the Plan, check with your broker, bank or other nominee to ascertain if you can participate
through them. Please note that brokers may offer their own Acorn dividend reinvestment plans that do not provide a discount. In
such event, ask your broker to arrange for your participation in Acorn&rsquo;s Dividend Reinvestment Plan. Alternatively, beneficial
owners may request that the shares the beneficial owner wishes to be enrolled in the Plan be reregistered in the beneficial owner&rsquo;s
own name as record owner in order to participate directly in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>6. When may a stockholder join the Plan?
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">A record owner may enroll
in the Plan at any time. If a properly executed Authorization Form is received by the Plan administrator on or before the record
date set by our Board of Directors for a cash dividend payment their reinvestment of cash dividends will begin with that scheduled
cash dividend payment. If you are a beneficial owner, check with your broker, bank or other nominee regarding when you may join
the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">In the past, record
dates for dividends generally have preceded the dividend payment dates by approximately 10 to 20 days. Although we have only recently
commenced paying dividends, we currently expect that they will be paid on or about the first business day of each March, June,
September and December.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>7. What does the Authorization Form provide? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">The Authorization Form
appoints the Plan administrator as agent for the stockholder and directs the Plan administrator to apply all or a specified portion
of cash dividends declared and paid by us for the purchase of additional shares of Acorn common stock in accordance with the terms
and conditions of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>8. Is there a minimum level of investment
under the Plan? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">Yes. Consistent with
the Emergency Economic Stabilization Act, passed by Congress 2008, you must reinvest at least 10% of your dividend distribution
if you wish to participate in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>9. What are my dividend reinvestment options
under the Plan? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">As a participant in
the Plan, you may elect to reinvest all, part or none of the dividends on your Acorn common stock for the purchase of additional
shares. If you are a record owner completing the Authorization Form, you must select one of the two dividend options on the Authorization
Form. If you are a beneficial owner, check with your broker, bank or other nominee regarding dividend reinvestment options under
the Plan. If you complete and return an Authorization Form without selecting a dividend option, your dividends will automatically
be fully reinvested to purchase additional shares. The Plan administrator will reinvest all dividends paid on shares that it holds
on behalf of participants in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt"><B>Full&nbsp;dividend
reinvestment. </B>If you select full dividend reinvestment, cash dividends paid on all of the shares you own of record in either
certificated or book entry form will automatically be reinvested to purchase additional shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt"><B>Partial&nbsp;dividend
reinvestment. </B>If you select partial dividend reinvestment, a portion of your cash dividend will automatically be reinvested
to purchase additional shares, and the remainder will be paid to you in cash. To elect this option, you must specify the number
of whole shares owned of record by you on which you wish to have dividends reinvested. The remaining cash dividend will be sent
to you by check.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>10. Can a participant change a dividend
option? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.3pt">You may change your
dividend participation option at any time by contacting the Plan administrator as set forth in the response to Question 4 above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt"><FONT STYLE="font-size: 10pt">Please
remember that the Plan administrator must receive your request on or before a dividend record date in order for your request to
be effective for that dividend. Otherwise, your request will be effective for the following dividend.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>11.&nbsp;May a participant elect to make
additional cash payments to purchase stock under the plan? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 22.5pt">No. Under the Plan additional
cash payments are not permitted. Purchases of common stock may be made under the Plan only through dividend reinvestment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>12.</B>&#9;<B>What is the source of
common stock purchased under the Plan? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">The Plan administrator
will purchase common stock either directly from us or on the open market. We will determine the source of the common stock to be
purchased under the Plan and so instruct the Plan administrator after a review of current market conditions and our current and
projected capital needs. We have instructed the Plan administrator to make all purchases of common stock under the Plan directly
from us until otherwise instructed. We reserve the right to change these instructions without any prior written notice to you by
us or the Plan administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">If we do in the future
instruct the Plan administrator to purchase common stock under the Plan in the open market, neither we nor any participant will
have authority to direct the price at which shares may be purchased on the open market or the selection of the broker or dealer
through or from whom purchases are to be made. These open market purchases of shares under the Plan will be made by or on behalf
of the Plan administrator on the dividend payment date and/or during the five trading days preceding and/or the 20 trading days
following the dividend payment date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>13. How many shares of Acorn common stock
will be purchased for participants? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">The number of shares
purchased for each participant on any cash dividend payment date will depend on the amount of each participant&rsquo;s cash dividend
invested and the purchase price of the shares of Acorn common stock. Each participant&rsquo;s Plan account will be credited with
that number of shares (including fractional shares computed to three decimal places) equal to the total amount of such participant&rsquo;s
cash dividends to be invested, divided by the applicable purchase price of our common stock (also computed to four decimal places).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>14. At what price will shares of Acorn
common stock be purchased under the Plan? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The purchase prices
for shares of common stock purchased under the Plan will be determined as follows:</P>

<P STYLE="font: 10pt Wingdings; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">If the shares are purchased from us, the
purchase price will be equal to 100% of the unsolicited volume weighted average price, rounded to four decimal places, of our common
stock as reported by the NASDAQ Global Market (or other principal market where our common stock may then be traded), during trading
hours from 9:30 a.m. to 4:00 p.m. Eastern time, on the payment date of the dividend. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Wingdings; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We may elect to offer a discount ranging
from 0% to 5% from such purchase price, which discount may vary each month. We initially will offer shares under the Plan at a
discount of 5%. <B>This discount is subject to change at any time without prior notice</B>. Participants may ascertain the prevailing
discount from the market price and other important information by visiting our website at www.acornenergy.com, under the &ldquo;Investor
Relations&rdquo; tab. Our decision to set a discount in a particular month shall not affect the setting of a discount for any subsequent
month. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify">If the shares are purchased in the open market, the purchase price will be the average price of
shares purchased by the Plan administrator. We may elect to offer a discount ranging from 0% to 5% from such purchase price, which
discount may vary each month. As stated above, we have no current plans to instruct the Plan administrator to purchase shares on
the open market in connection with the Plan.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>15.</B>&#9;<B>When will investments
in the common stock be made</B>?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Shares will be allocated
and credited to Plan accounts as of or as soon as practicable following the applicable dividend payment date. The investment date
with respect to the common stock acquired pursuant to dividend reinvestments will be the quarterly or special dividend payment
date declared by our Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Purchases of common
stock directly from us will be made as of each dividend payment date. Purchases by the Plan administrator through market transactions
will made on or in the five trading days preceding and/or the 20 trading days following the dividend payment date, and will be
completed as soon as reasonably practicable. However, the exact timing and related aspects of purchases may be subject to certain
conditions (such as compliance with applicable rules and regulations), which may affect the timing of purchases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>16. How are cash dividends on shares
purchased through the Plan applied? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">The purpose of
the Plan is to provide the participant with a convenient method of investing cash dividends in shares of our common stock.
Accordingly, cash dividends paid in shares of Acorn common stock held in the Plan will be automatically reinvested in
additional shares of Acorn common stock unless and until the participant elects in writing to terminate participation in the
Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>17. Are there any expenses to participants
in connection with share purchases or sales under the Plan? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">Purchases of Acorn
common stock on behalf of participants in the Plan will be made without the payment of brokerage commissions by the participants,
and Acorn will pay all fees and commissions in connection with purchases of shares of Acorn common stock under the Plan, except
for the actual purchase price of Acorn common stock purchased on each dividend payment date. There are no fees or service charges
to the participant in connection with purchases of Acorn common stock under the Plan. All costs of administration of the Plan are
paid by Acorn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">If a participant requests
the Plan Administrator to sell his or her shares of Acorn common stock held in the Plan, the participant will pay a sale fee of
$15.00 plus brokerage commissions associated with such sale and all applicable service charges and fees. The Plan administrator
will deduct the applicable fees from the proceeds from a sale. Participants may also request that their Plan shares be issued to
them in a record owner position at Acorn&rsquo;s transfer agent and/or be credited to the participant&rsquo;s account at their
broker.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>18. What reports will be sent to participants in the Plan?
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">As soon as
practical after the purchase of Acorn common stock on the Investment Date, each participant will receive a statement from the
Plan administrator. These statements serve as each participant&rsquo;s continuing record of the cost of shares of Acorn
common stock purchased and the number of shares acquired under the Plan. Participants should retain these reports for tax
purposes. You may also review your Plan account information online through the Plan Administrator&rsquo;s website at
www.amstock.com, where you may apply for a PIN number or you can access your account by using your social security number and
your American Stock Transfer ten digit account number.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>19. What if my address changes? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">All communications
to you, including notices, dividends and statements, will be sent to your latest address on record. Please notify the Plan administrator
promptly if your address changes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>20. Will stock certificates be issued for shares of Acorn
common stock purchased? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">The Plan administrator
will hold all shares representing purchases of Acorn common stock under the Plan in book entry form in its name or in the name
of its nominee. Record book entry or stock certificates for shares of Acorn common stock purchased under the Plan will <U>not</U>
be issued to participants. The number of shares of Acorn common stock credited to an account under the Plan will be shown on the
participant&rsquo;s periodic statement of account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">You may receive a
record book entry position or stock certificate for all or any portion of the full shares of Acorn common stock accumulated in
your account under the Plan by sending a written request to the Plan administrator. When record book entry positions or stock certificates
are issued to a participant, future cash dividends on such shares will not be reinvested in shares of Acorn common stock unless
you have elected full dividend reinvestment or have provided us with a revised Authorization Form requesting reinvestment of cash
dividends on such shares. No certificates representing fractional shares of Acorn common stock will be issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">Your rights under
the Plan and to the shares of Acorn common stock credited to your account under the Plan may not be pledged or assigned. A participant
who wishes to pledge or assign such shares must request that certificates for such shares be issued in his or her name. Accounts
under the Plan will be maintained in the same names in which the shares of Acorn common stock held by the participant were registered
when the participant entered the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>21. How does a participant withdraw from the Plan? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">A participant may
withdraw from the Plan at any time by sending a written withdrawal notice to the Plan administrator at the address contained in
Question 4. When a participant withdraws from the Plan, or upon termination of the Plan by Acorn, book entry positions at the transfer
agent (or upon request, stock certificates) for whole shares of our common stock credited to a participant&rsquo;s account under
the Plan will be issued and a cash payment will be made for any fractional shares in the participant&rsquo;s account. Upon withdrawal
from the Plan, the participant may also request that all of the shares of our common stock credited to his or her account be sold
by the Plan administrator. If a sale is requested, the Plan administrator will place a sale order as promptly as possible after
the processing of the request for withdrawal. A broker/dealer designated by the Plan administrator will sell the shares at the
prevailing market price. The participant will receive from the Plan administrator a check for the proceeds of the sale, less a
sale fee of $15.00 plus any applicable brokerage commission, transfer taxes and other fees and charges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>22. Does a participant have timing and control when Plan
shares are sold? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">Because the Plan administrator
will sell the shares on behalf of the Plan, neither Acorn nor any participant in the Plan has authority or power to control the
timing or pricing of shares sold or the selection of the broker making the sales. Therefore, you will not be able to precisely
time your sales through the Plan, and will bear the market risk associated with fluctuation in the price of our common stock. That
is, if you send in a request to sell shares, it is possible that the market price of our common stock could go down or up before
the broker sells your shares. In addition, you will not earn interest on undistributed proceeds from a sales transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>23. What happens to a fractional share when a participant
withdraws from the Plan? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">When
a participant withdraws from the Plan, a cash adjustment representing the value of any fractional share of our common
stock then credited to the participant&rsquo;s account will be mailed directly to the participant. (The cash adjustment will
be based on the current price of our common stock on the NASDAQ Global Market, or other principal market where our common stock may
then be trading, on the effective date of the withdrawal.) In no case will stock certificates representing fractional shares
be issued to a participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>24. What happens if Acorn issues a stock dividend or declares
a stock split or makes a rights offering? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">Any stock dividend
or split will be credited to participants&rsquo; Plan accounts based on the number of shares, including fractional share interests,
held in such accounts on the record date for such stock dividend or split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">In the event we make
available to stockholders rights to purchase additional shares of common stock or other securities, such rights will be made available
to participants based on the number of shares, including fractional shares interests to the extent practicable, held in the Plan
accounts on the record date established for determining stockholders who are entitled to such rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">Transaction processing
under the Plan may either be curtailed or suspended until the completion of any stock dividend, stock split, rights offering or
similar corporate action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>25. How will a participant&rsquo;s shares held under the
Plan be voted at meetings of shareholders? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">In connection with
every Acorn stockholder meeting you will receive proxy materials and a proxy card that will cover all shares you hold in the Plan.
You may vote your shares in accordance with the instructions provided in the proxy materials.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>26. What are the principal income tax consequences of participation
in the Plan? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">The following discussion
is a summary of the federal income tax provisions relating to participation in the Plan. State and local tax treatment may vary
from federal income tax treatment and is not discussed in this summary. You should rely upon your own tax advisor about your particular
circumstances and transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Dividends</I>. All dividends that are
paid to you, whether paid in cash or reinvested and used to purchase additional shares, are considered taxable dividend income
to you in the year they are paid by Acorn. At the end of each tax year, our transfer agent will provide you and the Internal Revenue
Service (the &ldquo;IRS&rdquo;) with a Form 1099-DIV that reports the total dollar value of the dividends paid during the year.
</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Discount on shares issued</I>. All
shares issued under the plan at a discount to the market price are considered taxable income to you and this will be reflected
on the Form 1099-DIV. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Sales</I>. All shares sold through
the Plan will be reported to the IRS as required by law. At the end of each tax year, our transfer agent will provide you and the
IRS with a Form 1099-B that reports the date of sale, cost basis of the shares sold and gross proceeds from the sale. In general,
the amount of gain or loss that you recognize will be based on the difference between the fair market value of your shares as of
the date of purchase and the date of sale. Any profit that you realize will be taxed as capital gain, and any loss realized will
be taxed as a capital loss. The capital gain or loss may be treated as &ldquo;long-term&rdquo; capital gain or loss if you have
held the shares for at least one year before the sale or transfer. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>Be sure to keep
your account statements for income tax purposes. If you have questions about the tax impact of any of transactions you are contemplating,
please consult your own tax advisor. </B>&nbsp;</P>

<P STYLE="font: 10pt Wingdings; margin: 0pt 0 0pt 27pt; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Transfers in or out of the Plan</I>.
You will not realize gain or loss for federal income tax purposes when you withdraw shares from the Plan. However, as noted in
the above paragraph, you will generally realize gain or loss upon the sale of shares (including the receipt of cash for fractional
shares) held in the Plan. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Wingdings; margin: 0pt 0 0pt 22.5pt; text-align: justify; text-indent: -13.5pt">&nbsp;</P>

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<P STYLE="font: 10pt Wingdings; margin: 0pt 0 0pt 22.5pt; text-align: justify; text-indent: -13.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Federal income tax withholding on dividends
and sales proceeds</I>. Federal law requires the Plan administrator to withhold an amount (based upon the current applicable rate)
from the amount of dividends and the proceeds of any sale of shares if: </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Wingdings; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Wingdings">&sect;&#9;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">You
fail to certify to the Plan administrator that you are not subject to backup withholding and that the taxpayer identification number
on your account is correct (on Form W-9), or </FONT></P>

<P STYLE="font: 10pt Wingdings; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Wingdings">&sect;&#9;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">The
IRS notifies Acorn or the Plan administrator that you are subject to backup withholding. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any amounts withheld
will be deducted from the dividends and/or from the proceeds of any sale of shares, and the remaining amount will be reinvested
or paid as you have instructed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, if you
are not a U.S. person, additional U.S. income tax withholding that is not fully discussed here may apply. Any amounts withheld
will be deducted from the dividends and/or from the proceeds of any sale of shares, and the remaining amount will be reinvested
or paid as you have instructed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">You may obtain a Form
W-9 from the IRS or by contacting the Plan administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>The above discussion is not a complete
discussion of all of the tax considerations that may be relevant to participation in the Plan. You should consult your own tax
advisor about the tax consequences associated with participation in the Plan. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>27. What are the responsibilities of Acorn and the Plan administrator
under the Plan? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt">Acorn and the Plan
administrator will not be liable for any act done in good faith or for the good faith omission to act, including, without limitation,
any claim of liability arising out of failure to terminate a participant&rsquo;s account upon such participant&rsquo;s death or
incapacity or with respect to: (i)&nbsp;the prices at which shares of our common stock are purchased or sold for the participant&rsquo;s
account; (ii)&nbsp;the timing of such purchases or sales; (iii)&nbsp;any loss or fluctuation in the market value of our common
stock; or (iv)&nbsp;any sales of our common stock made under the Plan on behalf of the participant. Acorn shall interpret the Plan
and all such interpretations and determinations made by Acorn shall be conclusive. The terms and conditions of the Plan, the Authorization
Form, the Plan&rsquo;s operation, and a participant&rsquo;s account will be governed by the laws of the State of New York and the
rules and regulations of the SEC. The terms of the Plan and the Authorization Form cannot be changed by oral agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>28. Who bears the risk of market price fluctuations in our
common stock? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A participant&rsquo;s
investment in shares of Acorn common stock acquired under the Plan is no different from any other investment in shares of Acorn
common stock. The participant bears the risk of loss and realizes the benefits of any gain from market price changes with respect
to shares of our common stock held in the Plan. Neither Acorn nor the Plan administrator makes any representations with respect
to the future value of our common stock purchased under the Plan. You should recognize that Acorn, the Plan administrator and related
parties cannot assure the participant of realizing any profits or protect the participant against any loss related to an investment
in our common stock purchased or sold under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>29. May the Plan be changed or discontinued? </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Plan may be amended,
suspended, modified or terminated at any time by Acorn without the approval of the participants. Notice of any such suspension
or termination or material amendment or modification will be sent to all participants, who shall at all times have the right to
withdraw from the Plan. Acorn or the Plan administrator may terminate a participant&rsquo;s individual participation in the Plan
at any time by written notice to the participant. In such event, the Plan administrator will request instructions from the participant
for disposition of the shares of our common stock held in his or her account. If the Plan administrator does not receive instructions
from the participant, it will send the participant a stock certificate for the number of whole shares held for the participant
under the Plan and a check for the value of any fractional shares as provided for in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 24.5pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 24.5pt"><B>DESCRIPTION OF CAPITAL
STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>General</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Our Certificate of
Incorporation, as amended, (the &ldquo;Certificate of Incorporation&rdquo;) authorizes 30,000,000 shares of capital stock, all
of which have been designated as common stock, $0.01 par value per share. We do not have any authorized preferred stock. The foregoing
and the following description of capital stock give effect to the Certificate of Incorporation and the provisions of the applicable
Delaware law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The holders of common
stock are entitled to one vote per share on all matters to be voted upon by the stockholders. The holders of common stock are entitled
to receive ratably any dividends that may be declared from time to time by the board of directors out of funds legally available
for that purpose. In the event of our liquidation, dissolution or winding up, the holders of our common stock are entitled to share
ratably in all assets remaining after payment of liabilities. The common stock has no preemptive or conversion rights or other
subscription rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Warrants and Options</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of August 14, 2012,
warrants to purchase 28,750 shares of our common stock at a weighted average exercise price of $3.68 per share, and options to
purchase 1,345,000 shares of our common stock at a weighted average exercise price of $4.71 per share, were outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Anti-Takeover Provisions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our By-Laws establish
an advance notice procedure for stockholder proposals to be brought before an annual meeting of our stockholders, including proposed
nominations of persons for election to the board of directors. At an annual meeting, stockholders may consider a proposal or nomination
by a person who was a stockholder of record on the record date for the meeting, who is entitled to vote at the meeting and who
has given to the Secretary timely written notice, in proper form, of his or her intention to bring that business before the meeting.
Our By-laws do not give the board of directors the power to approve or disapprove stockholder nominations of candidates or proposals
regarding other business to be conducted at a special or annual meeting of the stockholders. However, our By-laws may have the
effect of precluding the conduct of certain business at a meeting if the proper procedures are not followed. These provisions may
also discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer&rsquo;s own slate
of directors or otherwise attempting to obtain control of us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under Delaware law,
a special meeting of stockholders may be called by the board of directors or by any other person authorized to do so in our Certificate
of Incorporation or our By-Laws. Our By-Laws authorize only our board of directors or our President to call a special meeting of
stockholders. Because our stockholders do not have the right to call a special meeting, a stockholder could not force stockholder
consideration of a proposal over the opposition of the board of directors by calling a special meeting of stockholders prior to
such time as a majority of the board of directors believed or the President believed the matter should be considered or until the
next annual meeting provided that the requestor met the notice requirements. The restriction on the ability of stockholders to
call a special meeting means that a proposal to replace the board also could be delayed until the next annual meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Transfer Agent and Registrar</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The transfer agent
and registrar for our common stock is American Stock Transfer &amp; Trust Company, LLC, American Stock Transfer&nbsp;&amp; Trust
Company, LLC, 6201 15<SUP>th</SUP> Avenue, Brooklyn, NY 11219.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PLAN OF DISTRIBUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except to the extent
the Plan administrator purchases shares of common stock in the open market, we will sell directly to the administrator the shares
of common stock acquired under the Plan. The shares may be resold in market transactions on any national securities exchange on
which shares of our common stock trade or in privately negotiated transactions. Our common stock is currently listed on the NASDAQ
Global Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to the availability
of shares of common stock registered for issuance under the Plan, there is no limit to the number of shares that can be issued
pursuant to the Plan. We will pay all brokerage commissions and service charges in connection with the reinvestment of dividends
to purchase shares of common stock under the Plan. You will have to pay any fees payable in connection with your voluntary sale
of shares from your Plan account and/or withdrawal from the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The validity of the
issuance of securities offered by this prospectus supplement will be passed upon for us by Eilenberg &amp; Krause LLP, New York,
New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXPERTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The financial statements
incorporated herein by reference to the Annual Report on Form 10-K for the year ended December 31, 2011 of Acorn Energy, Inc. have
been so incorporated in reliance on the reports of each of Friedman LLP and Kesselman &amp; Kesselman, independent registered public
accounting firms, given on the authority of said firms as experts in auditing and accounting. Such consolidated financial statements
have been so included in reliance upon the report of such firm given upon their authority as experts in accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WHERE YOU CAN FIND MORE INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We file reports, proxy
statements and other information with the SEC. Copies of our reports, proxy statements and other information may be inspected
and copied at the SEC&rsquo;s Public Reference Room at 100 F. Street, N.E., Washington, D.C. 20549. Copies of these materials
can also be obtained by mail at prescribed rates from the Public Reference Room of the SEC, 100 F. Street, N.E., Washington, D.C.
20549. You may obtain information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. The SEC
maintains an internet site that contains reports, proxy and information statements and other information regarding our company
and other issuers that file electronically with the SEC. The address of the SEC internet site is <U>www.sec.gov</U>. This information
is also available on our website at <U>www.acornenergy.com</U>, under the &ldquo;Investor Relations&rdquo; tab. Information contained
in our website does not constitute part of this prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have filed a
registration statement on Form S-3 under the Securities Act of 1933, as amended, with the SEC with respect to the securities
to be sold hereunder. This prospectus supplement and the underlying base prospectus have been filed as part of
that registration statement. This prospectus supplement does not contain all of the information set forth in the
registration statement because certain parts of the registration statement are omitted in accordance with the rules and
regulations of the SEC. We will provide a copy of any and all of the information that is incorporated by reference in this
prospectus supplement, without charge, upon written or oral request. If you would like to obtain this information from us,
please direct your request, either in writing or by telephone, to Investor Relations, Acorn Energy, Inc., 3903 Centerville
Road, Wilmington, Delaware 19807, Attention: Heather K. Mallard, Secretary, (302) 656-1707.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INCORPORATION OF CERTAIN DOCUMENTS BY
REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The SEC allows us to
&ldquo;incorporate by reference&rdquo; into this prospectus supplement the information we have filed with the SEC. This means that
we can disclose important information by referring you to those documents. We incorporate by reference the following documents
that we have filed with the SEC and any filings that we will make with the SEC in the future under Sections 13(a), 13(c), 14 or
15(d) of the Exchange Act until this offering is terminated:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Annual Report on Form 10-K for the fiscal year ended December 31, 2011 filed on March 15, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Current Report on Form 8-K filed on March 16, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Amendment No. 1 on Form 10-K/A to Annual Report on Form 10-K for the fiscal year ended December
31, 2011 filed on April 5, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Current Report on Form 8-K filed on April 12, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Current Report on Form 8-K filed on May 8, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2012 filed on May 10, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Current Report on Form 8-K filed on May 10, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Current Report on Form 8-K filed on May 22, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Current Report on Form 8-K filed on June 14, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Current Report on Form 8-K filed on July 24, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Current Report on Form 8-K filed on July 25, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Current Report on Form 8-K filed on August 9, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2012 filed on August 9, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Current Report on Form 8-K filed on August 10, 2012;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Amendment No. 1 on Form 10-Q/A to Quarterly Report on Form 10-Q for the fiscal quarter ended June
20, 2012 filed on August 13, 2012; and</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The description of our Common Stock contained in our Form 8-A filed December 13, 2007.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are also incorporating
by reference additional documents that we may file pursuant to the Exchange Act after the date of this prospectus supplement and
prior to the termination of the offering, other than any portion of the respective flings furnished, rather than filed, under applicable
SEC rules. This additional information becomes a part of this prospectus supplement from the date of filing for those additional
documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<HR NOSHADE SIZE="4" STYLE="color: Black; width: 100%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><img src="logo.jpg"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Dividend Reinvestment Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>600,000 Shares of Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">August 15, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
