0001193125-13-413009.txt : 20131028 0001193125-13-413009.hdr.sgml : 20131028 20131028123236 ACCESSION NUMBER: 0001193125-13-413009 CONFORMED SUBMISSION TYPE: N-CSR PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 20130831 FILED AS OF DATE: 20131028 DATE AS OF CHANGE: 20131028 EFFECTIVENESS DATE: 20131028 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EATON VANCE TAX ADVANTAGED DIVIDEND INCOME FUND CENTRAL INDEX KEY: 0001253327 IRS NUMBER: 000000000 FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: N-CSR SEC ACT: 1940 Act SEC FILE NUMBER: 811-21400 FILM NUMBER: 131172522 BUSINESS ADDRESS: STREET 1: TWO INTERNATIONAL PLACE CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 617-482-8260 MAIL ADDRESS: STREET 1: TWO INTERNATIONAL PLACE CITY: BOSTON STATE: MA ZIP: 02110 N-CSR 1 d612668dncsr.htm EATON VANCE TAX-ADVANTAGED DIVIDEND INCOME FUND Eaton Vance Tax-Advantaged Dividend Income Fund

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form N-CSR

 

 

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number: 811-21400

 

 

Eaton Vance Tax-Advantaged Dividend Income Fund

(Exact Name of Registrant as Specified in Charter)

 

 

Two International Place, Boston, Massachusetts 02110

(Address of Principal Executive Offices)

 

 

Maureen A. Gemma

Two International Place, Boston, Massachusetts 02110

(Name and Address of Agent for Services)

 

 

(617) 482-8260

(Registrant’s Telephone Number)

August 31

Date of Fiscal Year End

August 31, 2013

Date of Reporting Period

 

 

 


Item 1. Reports to Stockholders


LOGO

 

 

Eaton Vance

Tax-Advantaged Dividend Income Fund (EVT)

Annual Report

August 31, 2013

 

 

 

 

LOGO


 

 

Commodity Futures Trading Commission Registration. Effective December 31, 2012, the Commodity Futures Trading Commission (“CFTC”) adopted certain regulatory changes that subject registered investment companies and advisers to regulation by the CFTC if a fund invests more than a prescribed level of its assets in certain CFTC-regulated instruments (including futures, certain options and swap agreements) or markets itself as providing investment exposure to such instruments. The Fund has claimed an exclusion from the definition of the term “commodity pool operator” under the Commodity Exchange Act and is not subject to the CFTC regulation. Because of its management of other strategies, the Fund’s adviser is registered with the CFTC as a commodity pool operator.

Fund shares are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Shares are subject to investment risks, including possible loss of principal invested.


Annual Report August 31, 2013

Eaton Vance

Tax-Advantaged Dividend Income Fund

Table of Contents

 

Management’s Discussion of Fund Performance

     2   

Performance

     3   

Fund Profile

     4   

Endnotes and Additional Disclosures

     5   

Financial Statements

     6   

Report of Independent Registered Public Accounting Firm

     22   

Federal Tax Information

     23   

Annual Meeting of Shareholders

     24   

Dividend Reinvestment Plan

     25   

Board of Trustees’ Contract Approval

     27   

Management and Organization

     30   

Important Notices

     32   


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Management’s Discussion of Fund Performance1

 

 

Economic and Market Conditions

As the 12-month period started in September 2012, U.S. stocks were in the midst of a summer-long rally that continued into early October 2012, despite weak employment, growth and consumer spending reports. Investors anticipated that worsening economic news would prompt the U.S. Federal Reserve Board (the Fed) to initiate additional rounds of asset purchases, known collectively as “quantitative easing,” to stimulate the economy — which it did in September 2012 and December 2012.

From early October 2012 through late December 2012, U.S. stocks gave back some of their gains, as investors worried about a federal budget impasse that left the United States rushing toward a self-imposed, so-called, “fiscal cliff.” However, in the final days of 2012, a deal to avert the cliff sparked an equity rally that continued into May 2013. This time, the rally was driven largely by strengthening U.S. economic data, as employment slowly improved and the housing market appeared to have finally turned the corner after its 2008 collapse.

In late May 2013, however, Fed Chairman Ben Bernanke surprised the markets by indicating that the Fed’s $85 billion in monthly asset purchases could begin to taper off sooner than most investors had expected. The negative effect on the markets was swift and dramatic. Bond investors rushed to sell assets in anticipation of rising rates. The prospect of an end to the Fed’s economic stimulus weighed on equities as well.

By late June 2013, U.S. equities resumed their upward trajectory. The S&P 500 Index2, a broad measure of the U.S. stock market, closed at an all-time high on August 2, 2013. Factors contributing to the rally included some backtracking by the Fed on its earlier statements, ongoing improvements in housing and other U.S. economic data, a strengthening U.S. dollar and news from Europe that the eurozone had officially come out of recession. In addition, rising U.S. interest rates, combined with economic problems in Brazil and India, helped instigate a capital flight out of emerging markets and into the United States, providing another boost to U.S. markets.

The final weeks of the period proved challenging for stocks globally, as investors worried about the growing possibility that a U.S. strike on Syria could spark geopolitical turmoil and a run-up in oil prices.

Fund Performance

For the 12-month period ended August 31, 2013, Eaton Vance Tax-Advantaged Dividend Income Fund (the Fund)

had a total return of 14.45% at net asset value (NAV), underperforming the Fund’s primary benchmark, the Russell 1000 Value Index (the Index), which returned 23.10% for the same period.

Within the Fund’s common stock allocation, stock selection and, to a lesser extent, sector allocation drove underperformance relative to the Index. Key detractors from performance versus the Index included stock selection in information technology and consumer staples, as well as stock selection and an underweight position in financials. The Fund invested outside its U.S.-only benchmark, particularly in Western Europe, to potentially take advantage of higher yields overseas. However, overseas investments hampered the Fund’s performance versus the Index as U.S. equities overall outperformed European stocks. By contrast, stock selection in utilities and industrials helped the performance of the Fund’s common stock allocation versus the Index.

As of the end of the period, the Fund had leverage of 23.94%6 of the Fund’s aggregate net assets plus borrowings outstanding. Leverage has the effect of magnifying the Fund’s exposure to its underlying investments in both up and down markets, and thus aided Fund performance versus the Index during a period when equities performed strongly.

As of August 31, 2013, the Fund had approximately 31% of its total investments in preferred securities (i.e., preferred stocks and corporate bonds and notes). Preferred securities, being interest-rate sensitive, were negatively impacted by rising rates in the last several months of the period. Yet, while the Fund’s preferred allocation underperformed the Index for the 12-month period and thus held back overall relative performance versus the Index, the preferred allocation did outperform the preferred market (as measured by the BofA Merrill Lynch Fixed Rate Preferred Securities Index). This outperformance versus the preferred market resulted from several factors. The Fund largely avoided the new issue preferred market in the final months of the period, as rising rates led to a sell-off in new issues. Overweighting high-yield issues also aided the Fund’s relative performance versus the preferred market, as those issues generally “out-yielded” the preferred market and were less negatively impacted by rising rates.

 

 

See Endnotes and Additional Disclosures in this report.

Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) or market price (as applicable) with all distributions reinvested. Fund performance at market price will differ from its results at NAV due to factors such as changing perceptions about the Fund, market conditions, fluctuations in supply and demand for Fund shares, or changes in Fund distributions. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance less than one year is cumulative. Performance is for the stated time period only; due to market volatility, current Fund performance may be lower or higher than the quoted return. For performance as of the most recent month end, please refer to www.eatonvance.com.

 

  2  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Performance2,3

 

Portfolio Managers Judith A. Saryan, CFA, Aamer Khan, CFA and John H. Croft, CFA

 

% Average Annual Total Returns    Inception Date      One Year      Five Years     

Since

Inception

 

Fund at NAV

     09/30/2003         14.45      4.54      8.15

Fund at Market Price

             14.09         5.45         7.06   

Russell 1000 Value Index

             23.10      6.68      7.71

BofA Merrill Lynch Fixed Rate Preferred SecuritiesIndex

             –1.86         4.30         2.04   
           
% Premium/Discount to NAV4                                
              –9.59
           
Distributions5                                

Total Distributions per share for the period

              $1.290   

Distribution Rate at NAV

              6.62

Distribution Rate at Market Price

              7.32
           
% Total Leverage6                                

Borrowings

              23.94

 

 

See Endnotes and Additional Disclosures in this report.

Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) or market price (as applicable) with all distributions reinvested. Fund performance at market price will differ from its results at NAV due to factors such as changing perceptions about the Fund, market conditions, fluctuations in supply and demand for Fund shares, or changes in Fund distributions. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance less than one year is cumulative. Performance is for the stated time period only; due to market volatility, current Fund performance may be lower or higher than the quoted return. For performance as of the most recent month end, please refer to www.eatonvance.com.

 

  3  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Fund Profile

 

 

Country Allocation (% of total investments)

 

 

LOGO

Common Stock Sector Allocation (% of total investments)

 

 

LOGO

Top 10 Common Stock Holdings (% of total investments)

 

 

Chevron Corp.

    3.1

ENI SpA

    1.9   

Pfizer, Inc.

    1.9   

Union Pacific Corp.

    1.8   

Wells Fargo & Co.

    1.7   

NextEra Energy, Inc.

    1.7   

Edison International

    1.7   

Citigroup, Inc.

    1.6   

Microsoft Corp.

    1.6   

JPMorgan Chase & Co.

    1.5   
         

Total

    18.5
         

 

 

 

See Endnotes and Additional Disclosures in this report.

 

  4  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Endnotes and Additional Disclosures

 

 

1 

The views expressed in this report are those of the portfolio manager(s) and are current only through the date stated at the top of this page. These views are subject to change at any time based upon market or other conditions, and Eaton Vance and the Fund(s) disclaim any responsibility to update such views. These views may not be relied upon as investment advice and, because investment decisions are based on many factors, may not be relied upon as an indication of trading intent on behalf of any Eaton Vance fund. This commentary may contain statements that are not historical facts, referred to as “forward looking statements”. The Fund’s actual future results may differ significantly from those stated in any forward looking statement, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of Fund shares, the continuation of investment advisory, administrative and service contracts, and other risks discussed from time to time in the Fund’s filings with the Securities and Exchange Commission.

 

2 

S&P 500 Index is an unmanaged index of large-cap stocks commonly used as a measure of U.S. stock market performance. Russell 1000 Value Index is an unmanaged index of U.S. large-cap value stocks. BofA Merrill Lynch Fixed Rate Preferred Securities Index is an unmanaged index of fixed-rate, preferred securities issued in the U.S. BofA Merrill Lynch® indices not for redistribution or other uses; provided “as is”, without warranties, and with no liability. Eaton Vance has prepared this report, BofAML does not endorse it, or guarantee, review, or endorse Eaton Vance’s products. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index.

 

3 

Performance results reflect the effects of leverage. Performance since inception for an index, if presented, is the performance since the Fund’s or oldest share class’ inception, as applicable.

 

4 

The shares of the Fund often trade at a discount or premium from their net asset value. The discount or premium of the Fund may vary over time and may be higher or lower than what is quoted in this report. For up-to-date premium/discount information, please refer to http://eatonvance.com/closedend.

 

5 

The Distribution Rate is based on the Fund’s last regular distribution per share in the period (annualized) divided by the Fund’s NAV or market price at the end of the period. The Fund’s distributions may be composed of ordinary income, tax-exempt income, net realized capital gains and return of capital. The Fund’s distributions are determined by the investment adviser based on its current assessment of the Fund’s long-term return potential. As portfolio and market conditions change, the rate of distributions paid by the Fund could change.

6 

Total leverage is shown as a percentage of the Fund’s aggregate net assets plus borrowings outstanding. The Fund employs leverage through borrowings. Use of leverage creates an opportunity for income, but creates risks including greater price volatility. The cost of borrowings rises and falls with changes in short-term interest rates. The Fund may be required to maintain prescribed asset coverage for its leverage and may be required to reduce its leverage at an inopportune time.

 

   Fund profile subject to change due to active management.
 

 

  5  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Portfolio of Investments

 

 

Common Stocks — 89.1%   
   
Security   Shares     Value  
   

Aerospace & Defense — 4.4%

               

Boeing Co. (The)

    159,890      $ 16,615,769   

Honeywell International, Inc.

    301,690        24,005,473   

United Technologies Corp.

    220,730        22,095,073   
                 
  $ 62,716,315   
                 

Capital Markets — 1.8%

               

Morgan Stanley(1)

    1,005,630      $ 25,905,029   
                 
  $ 25,905,029   
                 

Chemicals — 3.3%

               

CF Industries Holdings, Inc.

    89,500      $ 17,035,430   

LyondellBasell Industries N.V., Class A

    221,240        15,519,986   

PPG Industries, Inc.

    90,500        14,137,005   
                 
  $ 46,692,421   
                 

Commercial Banks — 6.8%

               

Barclays PLC

    2,000,000      $ 8,761,213   

Natixis

    3,335,000        14,363,922   

PNC Financial Services Group, Inc. (The)

    372,080        26,890,222   

Regions Financial Corp.(1)

    1,508,450        14,179,430   

Wells Fargo & Co.(1)

    775,180        31,844,394   
                 
  $ 96,039,181   
                 

Communications Equipment — 1.1%

               

Cisco Systems, Inc.

    667,960      $ 15,570,148   
                 
  $ 15,570,148   
                 

Computers & Peripherals — 1.1%

               

Hewlett-Packard Co.

    710,520      $ 15,873,017   
                 
  $ 15,873,017   
                 

Construction & Engineering — 0.1%

               

Impregilo SpA

    172,167      $ 776,582   
                 
  $ 776,582   
                 

Consumer Finance — 1.9%

               

Discover Financial Services

    573,210      $ 27,084,173   
                 
  $ 27,084,173   
                 

Diversified Financial Services — 6.0%

  

Bank of America Corp.

    1,808,284      $ 25,532,970   

Citigroup, Inc.(1)

    623,490        30,133,271   
Security   Shares     Value  
   

Diversified Financial Services (continued)

  

JPMorgan Chase & Co.(1)

    568,690      $ 28,735,906   
                 
  $ 84,402,147   
                 

Diversified Telecommunication Services — 3.4%

  

AT&T, Inc.

    380,880      $ 12,885,170   

Bezeq Israeli Telecommunication Corp., Ltd.

    6,500,000        10,590,711   

Deutsche Telekom AG

    851,194        10,897,346   

Telenor ASA

    683,830        14,188,285   
                 
  $ 48,561,512   
                 

Electric Utilities — 4.4%

               

Edison International(1)

    680,810      $ 31,242,371   

NextEra Energy, Inc.(1)

    392,190        31,516,388   
                 
  $ 62,758,759   
                 

Electrical Equipment — 1.4%

               

Emerson Electric Co.

    211,180      $ 12,748,937   

Generac Holdings, Inc.

    171,104        6,774,007   
                 
  $ 19,522,944   
                 

Electronic Equipment, Instruments & Components — 1.0%

  

Corning, Inc.

    990,550      $ 13,907,322   
                 
  $ 13,907,322   
                 

Food Products — 3.5%

               

Kraft Foods Group, Inc.(1)

    457,607      $ 23,690,314   

Mondelez International, Inc., Class A(1)

    626,331        19,209,572   

Nestle SA(1)

    106,590        6,975,697   
                 
  $ 49,875,583   
                 

Gas Utilities — 0.3%

               

Snam Rete Gas SpA

    1,031,885      $ 4,827,080   
                 
  $ 4,827,080   
                 

Health Care Equipment & Supplies — 3.2%

               

Abbott Laboratories

    432,420      $ 14,412,559   

Covidien PLC(1)

    407,990        24,234,606   

Medtronic, Inc.

    124,000        6,417,000   
                 
  $ 45,064,165   
                 

Hotels, Restaurants & Leisure — 1.7%

               

McDonald’s Corp.(1)

    258,440      $ 24,386,398   
                 
  $ 24,386,398   
                 
 

 

  6   See Notes to Financial Statements.


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Portfolio of Investments — continued

 

 

Security   Shares     Value  
   

Industrial Conglomerates — 0.4%

               

General Electric Co.

    271,520      $ 6,282,973   
                 
  $ 6,282,973   
                 

Insurance — 5.7%

  

ACE, Ltd.

    278,560      $ 24,435,283   

Aflac, Inc.(1)

    382,140        22,083,871   

AXA SA

    834,670        18,191,689   

MetLife, Inc.

    344,930        15,932,317   
                 
  $ 80,643,160   
                 

IT Services — 0.5%

               

International Business Machines Corp.(1)

    35,400      $ 6,452,358   
                 
  $ 6,452,358   
                 

Machinery — 1.3%

               

Caterpillar, Inc.

    80,000      $ 6,603,200   

Deere & Co.

    144,810        12,111,908   
                 
  $ 18,715,108   
                 

Media — 2.2%

               

Comcast Corp., Class A(1)

    367,050      $ 15,449,134   

Walt Disney Co. (The)(1)

    261,460        15,904,612   
                 
  $ 31,353,746   
                 

Metals & Mining — 0.9%

               

Freeport-McMoRan Copper & Gold, Inc.(1)

    438,498      $ 13,251,410   
                 
  $ 13,251,410   
                 

Multi-Utilities — 1.8%

               

Sempra Energy(1)

    301,690      $ 25,468,670   
                 
  $ 25,468,670   
                 

Oil, Gas & Consumable Fuels — 12.4%

               

Chevron Corp.(1)

    477,390      $ 57,492,078   

ENI SpA

    1,552,700        35,367,047   

Exxon Mobil Corp.(1)

    286,600        24,980,056   

HollyFrontier Corp.

    226,260        10,064,045   

Marathon Oil Corp.

    624,500        21,501,535   

Occidental Petroleum Corp.(1)

    301,690        26,612,075   
                 
  $ 176,016,836   
                 
Security   Shares     Value  
   

Pharmaceuticals — 8.0%

               

AstraZeneca PLC

    186,040      $ 9,160,128   

Johnson & Johnson(1)

    90,500        7,820,105   

Merck & Co., Inc.(1)

    599,667        28,358,252   

Pfizer, Inc.(1)

    1,226,880        34,610,285   

Roche Holding AG PC

    80,450        20,053,377   

Sanofi

    142,800        13,685,441   
                 
  $ 113,687,588   
                 

Real Estate Investment Trusts (REITs) — 2.4%

  

       

AvalonBay Communities, Inc.(1)

    117,650      $ 14,576,835   

Public Storage, Inc.

    130,730        19,958,549   
                 
  $ 34,535,384   
                 

Road & Rail — 2.3%

               

Union Pacific Corp.(1)

    213,190      $ 32,733,193   
                 
  $ 32,733,193   
                 

Semiconductors & Semiconductor Equipment — 0.5%

  

Analog Devices, Inc.

    139,373      $ 6,450,182   
                 
  $ 6,450,182   
                 

Software — 3.2%

               

Microsoft Corp.(1)

    880,000      $ 29,392,000   

Oracle Corp.(1)

    520,920        16,596,511   
                 
  $ 45,988,511   
                 

Specialty Retail — 1.1%

               

Home Depot, Inc. (The)(1)

    217,210      $ 16,179,973   
                 
  $ 16,179,973   
                 

Tobacco — 0.5%

               

Swedish Match AB

    182,340      $ 6,364,384   
                 
  $ 6,364,384   
                 

Wireless Telecommunication Services — 0.5%

  

Tele2 AB, Class B

    544,064      $ 6,832,186   
                 
  $ 6,832,186   
                 

Total Common Stocks
(identified cost $1,023,797,368)

   

  $ 1,264,918,438   
                 
 

 

  7   See Notes to Financial Statements.


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Portfolio of Investments — continued

 

 

Preferred Stocks — 31.2%    
   
Security   Shares     Value  
   

Banks — 0.8%

               

Lloyds Banking Group PLC, 6.657% to
5/21/37(1)(2)(3)

    12,213      $ 11,405,251   
                 
  $ 11,405,251   
                 

Capital Markets — 1.9%

               

Affiliated Managers Group, Inc., 6.375%

    94,425      $ 2,221,018   

Bank of New York Mellon Corp. (The), 5.20%

    331,683        7,124,551   

Charles Schwab Corp. (The), Series A, 7.00% to 2/1/22(1)(2)

    7,065        7,815,460   

Goldman Sachs Group, Inc. (The), Series I, 5.95%

    171,000        3,905,640   

Goldman Sachs Group, Inc. (The), Series J, 5.50% to 5/10/23(2)

    224,950        5,095,117   

State Street Corp., Series C, 5.25%

    62,378        1,345,493   
                 
  $ 27,507,279   
                 

Commercial Banks — 11.8%

  

Barclays Bank PLC, 7.625%

    4,735      $ 4,736,677   

CBA Capital Trust II, 6.024% to 3/15/16(1)(2)(3)

    5,000        5,375,180   

Citigroup, Inc., Series B, 5.90% to 2/15/23(2)

    6,060        5,767,902   

CoBank ACB, Series F, 6.25% to 10/1/22(2)(3)

    94,700        9,680,120   

Deutsche Bank Contingent Capital Trust III, 7.60%

    204,580        5,386,591   

Farm Credit Bank of Texas, 6.75% to
9/15/23(2)(3)(4)

    13,800        1,386,038   

Farm Credit Bank of Texas, Series 1, 10.00%

    8,678        10,299,701   

First Tennessee Bank, 3.75%(3)(5)

    4,660        3,432,381   

HSBC Capital Funding LP, Series 2, 10.176% to 6/30/30(1)(2)(3)

    4,737        6,793,133   

JPMorgan Chase & Co., Series 1, 7.90% to 4/30/18(1)(2)

    7,834        8,856,899   

JPMorgan Chase & Co., Series Q, 5.15% to 5/1/23(2)

    2,760        2,493,928   

JPMorgan Chase & Co., Series R, 6.00% to 8/1/23(2)

    4,566        4,386,404   

KeyCorp, Series A, 7.75%

    115,024        14,436,087   

Regions Financial Corp., Series A, 6.375%

    564,400        13,020,708   

Royal Bank of Scotland Group PLC, Series 1, 7.648% to 9/30/31(2)

    3,985        4,054,753   

Royal Bank of Scotland Group PLC, Series T, 7.25%

    128,495        2,947,675   

Standard Chartered PLC, 7.014% to
7/30/37(1)(2)(3)

    135.97        13,839,741   

SunTrust Banks, Inc., Series E, 5.875%

    376,000        8,246,620   

Synovus Financial Corp., Series C, 7.875% to 8/1/18(2)(4)

    175,520        4,732,283   

Texas Capital Bancshares, Inc., 6.50%

    274,290        6,180,110   

Texas Capital Bancshares, Inc., Series A, 6.50%

    47,100        1,079,061   

Webster Financial Corp., Series E, 6.40%

    187,995        4,416,473   

Wells Fargo & Co., Series L, 7.50%

    15,390        17,467,650   

Zions Bancorporation, Series G, 6.30% to 3/15/23(2)

    192,905        4,761,378   

Zions Bancorporation, Series J, 7.20% to 9/15/23(2)

    4,120        4,126,180   
                 
  $ 167,903,673   
                 
Security   Shares     Value  
   

Consumer Finance — 1.6%

               

Ally Financial, Inc., Series A, 8.50% to 5/15/16(2)

    187,367      $ 5,035,020   

Capital One Financial Corp., Series B, 6.00%

    343,900        7,655,214   

Discover Financial Services, Series B, 6.50%

    436,750        10,343,332   
                 
  $ 23,033,566   
                 

Diversified Financial Services — 3.3%

               

Bank of America Corp., Series U, 5.20% to
6/1/23(2)

    4,520      $ 4,095,472   

General Electric Capital Corp., Series A, 7.125% to 6/15/22(2)

    91.74        10,272,352   

General Electric Capital Corp., Series B, 6.25% to 12/15/22(2)

    50.05        5,168,522   

KKR Financial Holdings, LLC, Series A, 7.375%

    377,100        9,356,794   

RBS Capital Funding Trust VII, Series G, 6.08%

    382,030        7,705,545   

UBS AG, 7.625%(1)

    9,485        10,438,962   
                 
  $ 47,037,647   
                 

Electric Utilities — 3.5%

               

Electricite de France SA, 5.25% to 1/29/23(1)(2)(3)

    11,800      $ 11,141,068   

Entergy Arkansas, Inc., 4.90%

    96,455        1,938,147   

Entergy Arkansas, Inc., 6.45%

    325,000        8,064,063   

Entergy Louisiana, LLC, 6.95%

    14,484        1,454,285   

NextEra Energy Capital Holdings, Inc., Series G, 5.70%

    112,500        2,482,031   

NextEra Energy Capital Holdings, Inc., Series I, 5.125%

    2,586        51,478   

Southern California Edison Co., Series D, 6.50%

    91,800        9,713,588   

Southern California Edison Co., Series E, 6.25% to 2/1/22(1)(2)

    4,967        5,240,540   

Virginia Electric and Power Co., 6.12%

    90        9,124,647   
                 
  $ 49,209,847   
                 

Food Products — 1.1%

               

Dairy Farmers of America, 7.875%(3)

    94,450      $ 10,135,665   

Ocean Spray Cranberries, Inc., 6.25%(3)

    57,835        5,172,618   
                 
  $ 15,308,283   
                 

Insurance — 2.4%

               

American Overseas Group, Ltd., Series A, 7.50% to 12/15/16(2)(4)

    13,000      $ 5,200,812   

Aspen Insurance Holdings, Ltd., 5.95% to
7/1/23(2)

    70,552        1,698,892   

Aspen Insurance Holdings, Ltd., 7.401% to
1/1/17(2)

    89,150        2,344,645   

Endurance Specialty Holdings, Ltd., Series B, 7.50%

    185,750        4,634,463   

Montpelier Re Holdings, Ltd., 8.875%

    403,419        10,565,544   

Prudential PLC, 6.50%(1)

    8,732        8,831,448   
                 
  $ 33,275,804   
                 
 

 

  8   See Notes to Financial Statements.


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Portfolio of Investments — continued

 

 

Security   Shares     Value  
   

Machinery — 0.8%

               

Stanley Black & Decker, Inc., 5.75%

    511,817      $ 11,739,802   
                 
  $ 11,739,802   
                 

Multi-Utilities — 0.3%

               

DTE Energy Co., Series C, 5.25%

    194,047      $ 4,038,118   
                 
  $ 4,038,118   
                 

Pipelines — 0.5%

               

NuStar Logistics LP, 7.625% to
1/15/18(2)

    283,020      $ 7,287,765   
                 
  $ 7,287,765   
                 

Real Estate Investment Trusts (REITs) — 2.1%

  

Boston Properties, Inc., Series B, 5.25%

    88,392      $ 1,855,348   

CapLease, Inc., Series A, 8.125%

    212,579        5,371,871   

Cedar Realty Trust, Inc., Series B, 7.25%

    188,900        4,391,925   

Chesapeake Lodging Trust, Series A, 7.75%

    73,431        1,835,775   

DDR Corp., Series J, 6.50%

    250,000        5,725,000   

DDR Corp., Series K, 6.25%

    129,500        2,841,878   

Sunstone Hotel Investors, Inc., Series D, 8.00%

    239,400        6,074,775   

Taubman Centers, Inc., Series K, 6.25%

    70,600        1,545,434   
                 
  $ 29,642,006   
                 

Telecommunications — 0.2%

               

Centaur Funding Corp., 9.08%(3)

    2,402      $ 2,898,163   
                 
  $ 2,898,163   
                 

Thrifts & Mortgage Finance — 0.9%

               

Elmira Savings Bank FSB (The), 8.998% to 12/31/17(2)

    4,750      $ 4,560,000   

EverBank Financial Corp., Series A, 6.75%

    376,200        8,413,713   
                 
  $ 12,973,713   
                 

Total Preferred Stocks
(identified cost $444,128,877)

   

  $ 443,260,917   
                 
Corporate Bonds & Notes — 9.9%     
   
Security   Principal
Amount
(000’s omitted)
    Value  
   

Chemicals — 0.2%

               

Sinochem Group, 5.00% to 11/2/18, 12/29/49(2)(3)

  $ 2,350      $ 2,144,375   
                 
  $ 2,144,375   
                 
Security   Principal
Amount
(000’s omitted)
    Value  
   

Commercial Banks — 1.8%

               

Banco do Brasil SA, 6.25% to 4/15/24, 12/29/49(2)(3)

  $ 2,400      $ 1,878,000   

Banco Industriale Comercial SA, 8.50%, 4/27/20(3)

    2,010        1,633,125   

Citigroup Capital III, 7.625%, 12/1/36

    4,730        5,309,425   

Credit Suisse AG, 6.50%, 8/8/23(3)

    4,682        4,729,120   

Groupe BPCE, 12.50% to 9/30/19,
8/29/49(1)(2)(3)

    5,691        7,142,205   

Regions Financial Corp., 7.375%, 12/10/37

    540        582,433   

SunTrust Preferred Capital I, 4.00%, 6/29/49(5)

    5,100        4,131,000   
                 
  $ 25,405,308   
                 

Diversified Financial Services — 1.1%

               

HSBC Finance Capital Trust IX, 5.911% to 11/30/15, 11/30/35(2)

  $ 2,900      $ 2,954,375   

Textron Financial Corp., 6.00% to 2/15/17, 2/15/67(1)(2)(3)

    14,296        12,759,180   
                 
  $ 15,713,555   
                 

Diversified Telecommunication Services — 0.6%

  

Koninklijke KPN NV, 7.00% to 3/28/23, 3/28/73(2)(3)

  $ 8,049      $ 8,072,688   
                 
  $ 8,072,688   
                 

Electric Utilities — 1.0%

               

PPL Capital Funding, Inc., Series A, 6.70% to 3/30/17, 3/30/67(1)(2)

  $ 13,510      $ 13,993,874   
                 
  $ 13,993,874   
                 

Industrial Conglomerates — 0.5%

               

Hutchison Whampoa International 12, Ltd., 6.00% to 5/7/17, 5/29/49(2)(3)

  $ 6,900      $ 7,296,750   
                 
  $ 7,296,750   
                 

Insurance — 3.6%

               

Allstate Corp. (The), 5.75% to 8/15/23, 8/15/53(2)

  $ 7,020      $ 6,927,863   

Allstate Corp. (The), Series B, 6.125% to 5/15/17, 5/15/37, 5/15/67(2)(6)

    1,565        1,641,294   

MetLife Capital Trust IV, 7.875%, 12/15/67(3)

    794        905,160   

MetLife, Inc., 10.75% to 8/1/34, 8/1/39, 8/1/69(1)(2)(6)

    4,575        6,793,875   

QBE Capital Funding II, LP, 6.797% to 6/1/17, 6/29/49(2)(3)

    3,685        3,712,638   

QBE Capital Funding III, Ltd., 7.25% to 5/24/21, 5/24/41(1)(2)(3)

    6,719        7,099,033   

Swiss Re Capital I, LP, 6.854% to 5/25/16, 5/25/49(1)(2)(3)

    8,921        9,367,050   
 

 

  9   See Notes to Financial Statements.


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Portfolio of Investments — continued

 

 

Security   Principal
Amount
(000’s omitted)
    Value  
   

Insurance (continued)

  

XL Capital, Ltd., Series E, 6.50% to 4/15/17, 12/29/49(1)(2)

  $ 15,407      $ 14,983,307   
                 
  $ 51,430,220   
                 

Pipelines — 1.1%

               

DCP Midstream, LLC, 5.85% to 5/21/23, 5/21/43(2)(3)

  $ 5,497      $ 5,125,952   

Energy Transfer Partners, LP, 3.283%, 11/1/66(3)(5)

    6,225        5,633,625   

Enterprise Products Operating, LLC, 7.00% to 6/1/17, 6/1/67(1)(2)

    5,105        5,441,588   
                 
  $ 16,201,165   
                 

Total Corporate Bonds & Notes
(identified cost $127,618,149)

   

  $ 140,257,935   
                 
Short-Term Investments — 1.1%     
   
Description   Interest
(000’s omitted)
    Value  

Eaton Vance Cash Reserves Fund, LLC, 0.10%(7)

  $ 15,931      $ 15,930,910   
                 

Total Short-Term Investments
(identified cost $15,930,910)

   

  $ 15,930,910   
                 

Total Investments — 131.3%
(identified cost $1,611,475,304)

   

  $ 1,864,368,200   
                 

Other Assets, Less Liabilities — (31.3)%

  

  $ (444,353,279
                 

Net Assets — 100.0%

  

  $ 1,420,014,921   
                 

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.

 

PC     Participation Certificate

 

(1) 

Security has been segregated as collateral with the custodian for borrowings under the Committed Facility Agreement.

 

(2) 

Security converts to floating rate after the indicated fixed-rate coupon period.

 

(3) 

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be sold in certain transactions (normally to qualified institutional buyers) and remain exempt from registration. At August 31, 2013, the aggregate value of these securities is $158,758,259 or 11.2% of the Fund’s net assets.

 

(4) 

Non-income producing security.

 

(5) 

Variable rate security. The stated interest rate represents the rate in effect at August 31, 2013.

 

(6) 

The maturity dates shown are the scheduled maturity date and final maturity date, respectively. The scheduled maturity date is earlier than the final maturity date due to the possibility of earlier repayment.

(7) 

Affiliated investment company, available to Eaton Vance portfolios and funds, which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of August 31, 2013.

 

Country Concentration of Portfolio   
   
Country   Percentage
of Total Investments
    Value  

United States

    81.2   $ 1,514,590,313   

Switzerland

    3.5        65,560,527   

France

    2.9        53,383,257   

Italy

    2.2        40,970,709   

United Kingdom

    1.7        32,274,267   

Cayman Islands

    1.3        25,178,220   

Ireland

    1.3        24,234,606   

Netherlands

    1.3        23,592,674   

Bermuda

    1.0        19,243,544   

Norway

    0.8        14,188,285   

Sweden

    0.7        13,196,570   

Germany

    0.6        10,897,346   

Australia

    0.6        10,811,671   

Israel

    0.6        10,590,711   

Brazil

    0.2        3,511,125   

China

    0.1        2,144,375   
   

Total Investments

    100.0   $ 1,864,368,200   
   
 

 

  10   See Notes to Financial Statements.


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Statement of Assets and Liabilities

 

 

Assets   August 31, 2013  

Unaffiliated investments, at value (identified cost, $1,595,544,394)

  $ 1,848,437,290   

Affiliated investment, at value (identified cost, $15,930,910)

    15,930,910   

Cash

    54,525   

Restricted cash*

    1,476,000   

Foreign currency, at value (identified cost, $3,433,274)

    3,375,709   

Dividends and interest receivable

    8,311,991   

Interest receivable from affiliated investment

    1,678   

Receivable for investments sold

    34,522,274   

Receivable for open forward foreign currency exchange contracts

    950,637   

Tax reclaims receivable

    5,265,061   

Total assets

  $ 1,918,326,075   
Liabilities   

Notes payable

  $ 447,000,000   

Payable for investments purchased

    49,396,700   

Payable to affiliate:

 

Investment adviser fee

    1,373,324   

Accrued expenses

    541,130   

Total liabilities

  $ 498,311,154   

Net Assets

  $ 1,420,014,921   
Sources of Net Assets   

Common shares, $0.01 par value, unlimited number of shares authorized, 72,835,900 shares issued and outstanding

  $ 728,359   

Additional paid-in capital

    1,382,213,413   

Accumulated net realized loss

    (230,279,534

Accumulated undistributed net investment income

    13,155,214   

Net unrealized appreciation

    254,197,469   

Net Assets

  $ 1,420,014,921   
Net Asset Value   

($1,420,014,921 ÷ 72,835,900 common shares issued and outstanding)

  $ 19.50   

 

* Represents restricted cash on deposit at the custodian for open derivative contracts.

 

  11   See Notes to Financial Statements.


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Statement of Operations

 

 

Investment Income   Year Ended
August 31, 2013
 

Dividends (net of foreign taxes, $6,066,450)

  $ 113,468,443   

Interest

    8,783,343   

Interest income allocated from affiliated investment

    32,444   

Expenses allocated from affiliated investment

    (3,849

Total investment income

  $ 122,280,381   
Expenses   

Investment adviser fee

  $ 15,759,230   

Trustees’ fees and expenses

    68,000   

Custodian fee

    505,100   

Transfer and dividend disbursing agent fees

    19,373   

Legal and accounting services

    204,378   

Printing and postage

    68,297   

Interest expense and fees

    4,221,054   

Miscellaneous

    233,656   

Total expenses

  $ 21,079,088   

Deduct —

 

Reduction of custodian fee

  $ 109   

Total expense reductions

  $ 109   

Net expenses

  $ 21,078,979   

Net investment income

  $ 101,201,402   
Realized and Unrealized Gain (Loss)   

Net realized gain (loss) —

 

Investment transactions

  $ 79,783,513   

Investment transactions allocated from affiliated investment

    934   

Proceeds from securities litigation settlements

    1,042,033   

Foreign currency and forward foreign currency exchange contract transactions

    (5,259,044

Net realized gain

  $ 75,567,436   

Change in unrealized appreciation (depreciation) —

 

Investments

  $ 3,083,563   

Foreign currency and forward foreign currency exchange contracts

    1,493,978   

Net change in unrealized appreciation (depreciation)

  $ 4,577,541   

Net realized and unrealized gain

  $ 80,144,977   

Net increase in net assets from operations

  $ 181,346,379   

 

  12   See Notes to Financial Statements.


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Statements of Changes in Net Assets

 

 

    Year Ended August 31,  
Increase (Decrease) in Net Assets   2013     2012  

From operations —

   

Net investment income

  $ 101,201,402      $ 87,523,920   

Net realized gain from investment, foreign currency and forward foreign currency exchange contract transactions

    75,567,436        66,488,041   

Net change in unrealized appreciation (depreciation) from investments, foreign currency and forward foreign currency exchange contracts

    4,577,541        50,386,172   

Net increase in net assets from operations

  $ 181,346,379      $ 204,398,133   

Distributions to shareholders —

   

From net investment income

  $ (93,958,310   $ (93,958,310

Total distributions

  $ (93,958,310   $ (93,958,310

Net increase in net assets

  $ 87,388,069      $ 110,439,823   
Net Assets   

At beginning of year

  $ 1,332,626,852      $ 1,222,187,029   

At end of year

  $ 1,420,014,921      $ 1,332,626,852   

Accumulated undistributed net investment income

included in net assets

  

  

At end of year

  $ 13,155,214      $ 7,434,717   

 

  13   See Notes to Financial Statements.


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Statement of Cash Flows

 

 

Cash Flows From Operating Activities   Year Ended
August 31, 2013
 

Net increase in net assets from operations

  $ 181,346,379   

Adjustments to reconcile net increase in net assets from operations to net cash provided by operating activities:

 

Investments purchased

    (1,542,808,490

Investments sold

    1,548,767,984   

Increase in short-term investments, net

    (8,583,175

Net amortization/accretion of premium (discount)

    81,225   

Decrease in restricted cash

    2,487,658   

Decrease in dividends and interest receivable

    470,929   

Decrease in interest receivable from affiliated investment

    1,112   

Increase in receivable for open forward foreign currency exchange contracts

    (950,637

Increase in tax reclaims receivable

    (632,831

Decrease in payable for open forward foreign currency exchange contracts

    (422,185

Increase in payable to affiliate for investment adviser fee

    95,322   

Increase in accrued expenses

    402,329   

Net change in unrealized (appreciation) depreciation from investments

    (3,083,563

Net realized gain from investments

    (79,783,513

Net cash provided by operating activities

  $ 97,388,544   
Cash Flows From Financing Activities   

Distributions paid to common shareholders, net of reinvestments

  $ (93,958,310

Proceeds from notes payable

    447,000,000   

Repayments of notes payable

    (447,000,000

Net cash used in financing activities

  $ (93,958,310

Net increase in cash*

  $ 3,430,234   

Cash at beginning of year

  $   

Cash at end of year(1)

  $ 3,430,234   
Supplemental disclosure of cash flow information:   

Cash paid for interest and fees on borrowings

  $ 3,937,234   

 

(1) 

Balance includes foreign currency, at value.

 

* Includes net change in unrealized appreciation (depreciation) on foreign currency of $(57,565).

 

  14   See Notes to Financial Statements.


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Financial Highlights

 

Selected data for a common share outstanding during the periods stated

 

    Year Ended August 31,  
    2013     2012     2011     2010     2009  

Net asset value — Beginning of year (Common shares)

  $ 18.300      $ 16.780      $ 15.950      $ 15.320      $ 24.320   
Income (Loss) From Operations                                        

Net investment income(1)

  $ 1.389      $ 1.202      $ 1.354 (2)    $ 1.331      $ 1.227   

Net realized and unrealized gain (loss)

    1.101        1.608        0.766        0.589        (8.757

Total income (loss) from operations

  $ 2.490      $ 2.810      $ 2.120      $ 1.920      $ (7.530
Less Distributions to Common Shareholders                                        

From net investment income

  $ (1.290   $ (1.290   $ (1.290   $ (1.290   $ (1.470

Total distributions to common shareholders

  $ (1.290   $ (1.290   $ (1.290   $ (1.290   $ (1.470

Net asset value — End of year (Common shares)

  $ 19.500      $ 18.300      $ 16.780      $ 15.950      $ 15.320   

Market value — End of year (Common shares)

  $ 17.630      $ 16.600      $ 15.160      $ 14.750      $ 13.920   

Total Investment Return on Net Asset Value(3)

    14.45     18.42     13.58     13.25     (28.38 )% 

Total Investment Return on Market Value(3)

    14.09     18.87     10.96     15.26     (24.81 )% 
Ratios/Supplemental Data                                        

Net assets applicable to common shares, end of year (000’s omitted)

  $ 1,420,015      $ 1,332,627      $ 1,222,187      $ 1,161,717      $ 1,116,175   

Ratios (as a percentage of average daily net assets applicable to common shares):

         

Expenses excluding interest and fees(4)

    1.19     1.23     1.13     1.04     1.07

Interest and fee expense

    0.30     0.45     0.36     0.39     0.99

Total expenses

    1.49     1.68     1.49     1.43     2.06

Net investment income

    7.14     6.93     7.47 %(2)      8.09     8.66

Portfolio Turnover

    84     94     86     117     76

Senior Securities:

         

Total notes payable outstanding (in 000’s)

  $ 447,000      $ 447,000      $ 447,000      $ 340,000      $ 340,000   

Asset coverage per $1,000 of notes payable(5)

  $ 4,177      $ 3,981      $ 3,734      $ 4,417      $ 4,283   

 

(1) 

Computed using average common shares outstanding.

 

(2) 

Net investment income per share reflects special dividends which amounted to $0.191 per share. Excluding special dividends, the ratio of net investment income to average daily net assets applicable to common shares would have been 6.41% and the ratio of net investment income to average daily net assets applicable to common shares plus average borrowings would have been 4.83%.

 

(3) 

Returns are historical and are calculated by determining the percentage change in net asset value or market value with all distributions reinvested. Distributions are assumed to be reinvested at prices obtained under the Fund’s dividend reinvestment plan.

 

(4) 

Excludes the effect of custody fee credits, if any, of less than 0.005%.

 

(5) 

Calculated by subtracting the Fund’s total liabilities (not including the notes payable) from the Fund’s total assets, and dividing the result by the notes payable balance in thousands.

 

  15   See Notes to Financial Statements.


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Notes to Financial Statements

 

 

1  Significant Accounting Policies

Eaton Vance Tax-Advantaged Dividend Income Fund (the Fund) is a Massachusetts business trust registered under the Investment Company Act of 1940, as amended (the 1940 Act), as a diversified, closed-end management investment company. The Fund’s investment objective is to provide a high level of after-tax total return consisting primarily of tax-advantaged dividend income and capital appreciation. The Fund pursues its objective by investing primarily in dividend-paying common and preferred stocks.

The following is a summary of significant accounting policies of the Fund. The policies are in conformity with accounting principles generally accepted in the United States of America.

A  Investment Valuation — The following methodologies are used to determine the market value or fair value of investments.

Equity Securities. Equity securities (including common shares of closed-end investment companies) listed on a U.S. securities exchange generally are valued at the last sale or closing price on the day of valuation or, if no sales took place on such date, at the mean between the closing bid and asked prices therefore on the exchange where such securities are principally traded. Equity securities listed on the NASDAQ Global or Global Select Market generally are valued at the NASDAQ official closing price. Unlisted or listed securities for which closing sales prices or closing quotations are not available are valued at the mean between the latest available bid and asked prices or, in the case of preferred equity securities that are not listed or traded in the over-the-counter market, by a third party pricing service that will use various techniques that consider factors including, but not limited to, prices or yields of securities with similar characteristics, benchmark yields, broker/dealer quotes, quotes of underlying common stock, issuer spreads, as well as industry and economic events. The value of preferred equity securities that are valued by a pricing service on a bond basis will be adjusted by an income factor, to be determined by the investment adviser, to reflect the next anticipated regular dividend.

Debt Obligations. Debt obligations (including short-term obligations with a remaining maturity of more than sixty days) are generally valued on the basis of valuations provided by third party pricing services, as derived from such services’ pricing models. Inputs to the models may include, but are not limited to, reported trades, executable bid and asked prices, broker/dealer quotations, prices or yields of securities with similar characteristics, benchmark curves or information pertaining to the issuer, as well as industry and economic events. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security. Short-term obligations purchased with a remaining maturity of sixty days or less are generally valued at amortized cost, which approximates market value.

Foreign Securities and Currencies. Foreign securities and currencies are valued in U.S. dollars, based on foreign currency exchange rate quotations supplied by a third party pricing service. The pricing service uses a proprietary model to determine the exchange rate. Inputs to the model include reported trades and implied bid/ask spreads. The daily valuation of exchange-traded foreign securities generally is determined as of the close of trading on the principal exchange on which such securities trade. Events occurring after the close of trading on foreign exchanges may result in adjustments to the valuation of foreign securities to more accurately reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities that meet certain criteria, the Fund’s Trustees have approved the use of a fair value service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that have a strong correlation to the fair-valued securities.

Derivatives. Forward foreign currency exchange contracts are generally valued at the mean of the average bid and average asked prices that are reported by currency dealers to a third party pricing service at the valuation time. Such third party pricing service valuations are supplied for specific settlement periods and the Fund’s forward foreign currency exchange contracts are valued at an interpolated rate between the closest preceding and subsequent settlement period reported by the third party pricing service.

Affiliated Fund. The Fund may invest in Eaton Vance Cash Reserves Fund, LLC (Cash Reserves Fund), an affiliated investment company managed by Eaton Vance Management (EVM). The value of the Fund’s investment in Cash Reserves Fund reflects the Fund’s proportionate interest in its net assets. Cash Reserves Fund generally values its investment securities utilizing the amortized cost valuation technique in accordance with Rule 2a-7 under the 1940 Act. This technique involves initially valuing a portfolio security at its cost and thereafter assuming a constant amortization to maturity of any discount or premium. If amortized cost is determined not to approximate fair value, Cash Reserves Fund may value its investment securities in the same manner as debt obligations described above.

Fair Valuation. Investments for which valuations or market quotations are not readily available or are deemed unreliable are valued at fair value using methods determined in good faith by or at the direction of the Trustees of the Fund in a manner that fairly reflects the security’s value, or the amount that the Fund might reasonably expect to receive for the security upon its current sale in the ordinary course. Each such determination is based on a consideration of relevant factors, which are likely to vary from one pricing context to another. These factors may include, but are not limited to, the type of security, the existence of any contractual restrictions on the security’s disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies or entities, quotations or relevant information obtained from broker/dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company’s or entity’s financial condition, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.

B  Investment Transactions — Investment transactions for financial statement purposes are accounted for on a trade date basis. Realized gains and losses on investments sold are determined on the basis of identified cost.

C  Income — Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities. However, if the ex-dividend date has passed, certain dividends from foreign securities are recorded as the Fund is informed of the ex-dividend date. Withholding taxes on foreign dividends and

 

  16  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Notes to Financial Statements — continued

 

 

capital gains have been provided for in accordance with the Fund’s understanding of the applicable countries’ tax rules and rates. Interest income is recorded on the basis of interest accrued, adjusted for amortization of premium or accretion of discount.

D  Federal Taxes — The Fund’s policy is to comply with the provisions of the Internal Revenue Code applicable to regulated investment companies and to distribute to shareholders each year substantially all of its net investment income, and all or substantially all of its net realized capital gains. Accordingly, no provision for federal income or excise tax is necessary.

At August 31, 2013, the Fund, for federal income tax purposes, had a capital loss carryforward of $211,855,009 which will reduce its taxable income arising from future net realized gains on investment transactions, if any, to the extent permitted by the Internal Revenue Code, and thus will reduce the amount of distributions to shareholders, which would otherwise be necessary to relieve the Fund of any liability for federal income or excise tax. Such capital loss carryforward will expire on August 31, 2017 ($655,404) and August 31, 2018 ($211,199,605). In addition, such capital loss carryforward cannot be utilized prior to the utilization of new capital losses, if any, created after August 31, 2013.

During the year ended August 31, 2013, a capital loss carryforward of $44,804,787 was utilized to offset net realized gains by the Fund.

Additionally, at August 31, 2013, the Fund had a net capital loss of $16,404,209 attributable to security transactions incurred after October 31, 2012. This net capital loss is treated as arising on the first day of the Fund’s taxable year ending August 31, 2014.

As of August 31, 2013, the Fund had no uncertain tax positions that would require financial statement recognition, de-recognition, or disclosure. The Fund files a U.S. federal income tax return annually after its fiscal year-end, which is subject to examination by the Internal Revenue Service for a period of three years from the date of filing.

E  Expense Reduction — State Street Bank and Trust Company (SSBT) serves as custodian of the Fund. Pursuant to the custodian agreement, SSBT receives a fee reduced by credits, which are determined based on the average daily cash balance the Fund maintains with SSBT. All credit balances, if any, used to reduce the Fund’s custodian fees are reported as a reduction of expenses in the Statement of Operations.

F  Foreign Currency Translation — Investment valuations, other assets, and liabilities initially expressed in foreign currencies are translated each business day into U.S. dollars based upon current exchange rates. Purchases and sales of foreign investment securities and income and expenses denominated in foreign currencies are translated into U.S. dollars based upon currency exchange rates in effect on the respective dates of such transactions. Recognized gains or losses on investment transactions attributable to changes in foreign currency exchange rates are recorded for financial statement purposes as net realized gains and losses on investments. That portion of unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.

G  Use of Estimates — The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates.

H  Indemnifications — Under the Fund’s organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the Fund. Under Massachusetts law, if certain conditions prevail, shareholders of a Massachusetts business trust (such as the Fund) could be deemed to have personal liability for the obligations of the Fund. However, the Fund’s Declaration of Trust contains an express disclaimer of liability on the part of Fund shareholders and the By-laws provide that the Fund shall assume the defense on behalf of any Fund shareholders. Moreover, the By-laws also provide for indemnification out of Fund property of any shareholder held personally liable solely by reason of being or having been a shareholder for all loss or expense arising from such liability. Additionally, in the normal course of business, the Fund enters into agreements with service providers that may contain indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred.

I  Forward Foreign Currency Exchange Contracts — The Fund may enter into forward foreign currency exchange contracts for the purchase or sale of a specific foreign currency at a fixed price on a future date. The forward foreign currency exchange contracts are adjusted by the daily exchange rate of the underlying currency and any gains or losses are recorded as unrealized until such time as the contracts have been closed. Risks may arise upon entering these contracts from the potential inability of counterparties to meet the terms of their contracts and from movements in the value of a foreign currency relative to the U.S. dollar.

J  Statement of Cash Flows — The cash amount shown in the Statement of Cash Flows of the Fund is the amount included in the Fund’s Statement of Assets and Liabilities and represents the unrestricted cash on hand at its custodian and does not include any short-term investments.

2  Distributions to Shareholders

The Fund intends to make monthly distributions of net investment income to common shareholders. In addition, at least annually, the Fund intends to distribute all or substantially all of its net realized capital gains (reduced by available capital loss carryforwards from prior years). Distributions are recorded on the ex-dividend date. The Fund distinguishes between distributions on a tax basis and a financial reporting basis. Accounting principles generally accepted in the United States of America require that only distributions in excess of tax basis earnings and profits be reported in the financial statements as

 

  17  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Notes to Financial Statements — continued

 

 

a return of capital. Permanent differences between book and tax accounting relating to distributions are reclassified to paid-in capital. For tax purposes, distributions from short-term capital gains are considered to be from ordinary income.

The tax character of distributions declared for the years ended August 31, 2013 and August 31, 2012 was as follows:

 

    Year Ended August 31,  
     2013      2012  

Distributions declared from:

    

Ordinary income

  $ 93,958,310       $ 93,958,310   

During the year ended August 31, 2013, accumulated net realized loss was decreased by $1,522,595 and accumulated undistributed net investment income was decreased by $1,522,595 due to differences between book and tax accounting, primarily for investments in partnerships, accretion of market discount, distributions from real estate investment trusts (REITs) and foreign currency gain (loss). These reclassifications had no effect on the net assets or net asset value per share of the Fund.

As of August 31, 2013, the components of distributable earnings (accumulated losses) and unrealized appreciation (depreciation) on a tax basis were as follows:

 

Undistributed ordinary income

  $ 12,339,071   

Capital loss carryforward and post October capital losses

  $ (228,259,218

Net unrealized appreciation

  $ 252,993,296   

The differences between components of distributable earnings (accumulated losses) on a tax basis and the amounts reflected in the Statement of Assets and Liabilities are primarily due to wash sales, premium amortization, distributions from REITs, investments in partnerships and foreign currency transactions.

3  Investment Adviser Fee and Other Transactions with Affiliates

The investment adviser fee is earned by EVM as compensation for management and investment advisory services rendered to the Fund. Pursuant to the investment advisory agreement and subsequent fee reduction agreement, the fee is computed at an annual rate of 0.85% of the Fund’s average daily gross assets up to and including $1.5 billion, 0.83% over $1.5 billion up to and including $3 billion, and at reduced rates as daily gross assets exceed $3 billion and is payable monthly. Gross assets as referred to herein represent net assets plus obligations attributable to investment leverage. The fee reduction cannot be terminated without the consent of the Trustees and shareholders. For the year ended August 31, 2013, the Fund’s investment adviser fee amounted to $15,759,230 or 0.85% of the Fund’s average daily gross assets. EVM also serves as administrator of the Fund, but receives no compensation. The Fund invests its cash in Cash Reserves Fund. EVM does not currently receive a fee for advisory services provided to Cash Reserves Fund.

Trustees and officers of the Fund who are members of EVM’s organization receive remuneration for their services to the Fund out of the investment adviser fee. Trustees of the Fund who are not affiliated with EVM may elect to defer receipt of all or a percentage of their annual fees in accordance with the terms of the Trustees Deferred Compensation Plan. For the year ended August 31, 2013, no significant amounts have been deferred. Certain officers and Trustees of the Fund are officers of EVM.

4  Purchases and Sales of Investments

Purchases and sales of investments, other than short-term obligations, aggregated $1,572,075,145 and $1,538,162,225, respectively, for the year ended August 31, 2013.

5  Common Shares of Beneficial Interest

The Fund may issue common shares pursuant to its dividend reinvestment plan. There were no transactions in common shares issued by the Fund for the years ended August 31, 2013 and August 31, 2012.

 

  18  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Notes to Financial Statements — continued

 

 

6  Federal Income Tax Basis of Investments

The cost and unrealized appreciation (depreciation) of investments of the Fund at August 31, 2013, as determined on a federal income tax basis, were as follows:

 

Aggregate cost

  $ 1,611,681,382   

Gross unrealized appreciation

  $ 292,397,323   

Gross unrealized depreciation

    (39,710,505

Net unrealized appreciation

  $ 252,686,818   

7  Financial Instruments

The Fund may trade in financial instruments with off-balance sheet risk in the normal course of its investing activities. These financial instruments may include forward foreign currency exchange contracts and may involve, to a varying degree, elements of risk in excess of the amounts recognized for financial statement purposes. The notional or contractual amounts of these instruments represent the investment the Fund has in particular classes of financial instruments and do not necessarily represent the amounts potentially subject to risk. The measurement of the risks associated with these instruments is meaningful only when all related and offsetting transactions are considered.

A summary of obligations under these financial instruments at August 31, 2013 is as follows:

 

Forward Foreign Currency Exchange Contracts  
          

Sales

 
Settlement Date   Deliver    In Exchange For    Counterparty    Net Unrealized
Appreciation
 
9/30/13   British Pound Sterling
3,878,600
   United States Dollar
6,015,778
   Citibank NA    $ 6,320   
9/30/13   British Pound Sterling
3,878,600
   United States Dollar
6,016,135
   Standard Chartered Bank      6,677   
9/30/13   British Pound Sterling
3,878,600
   United States Dollar
6,015,437
   State Street Bank and Trust Co.      5,979   
9/30/13   Euro
29,475,314
   United States Dollar
39,267,750
   Citibank NA      308,382   
9/30/13   Euro
29,475,314
   United States Dollar
39,270,934
   Standard Chartered Bank      311,566   
9/30/13   Euro
29,475,314
   United States Dollar
39,271,081
   State Street Bank and Trust Co.      311,713   
                   $ 950,637   

At August 31, 2013, the Fund had sufficient cash and/or securities to cover commitments under these contracts.

The Fund is subject to foreign exchange risk in the normal course of pursuing its investment objective. Because the Fund holds foreign currency denominated investments, the value of these investments and related receivables and payables may change due to future changes in foreign currency exchange rates. To hedge against this risk, the Fund enters into forward foreign currency exchange contracts.

The Fund enters into forward foreign currency exchange contracts that may contain provisions whereby the counterparty may terminate the contract under certain conditions, including but not limited to a decline in the Fund’s net assets below a certain level over a certain period of time, which would trigger a payment by the Fund for those derivatives in a liability position. At August 31, 2013, the Fund had no open derivatives with credit-related contingent features in a net liability position. The aggregate fair value of assets pledged as collateral by the Fund was $1,476,000 at August 31, 2013.

The non-exchange traded derivatives in which the Fund invests, including forward foreign currency exchange contracts, are subject to the risk that the counterparty to the contract fails to perform its obligations under the contract. At August 31, 2013, the maximum amount of loss the Fund would incur

 

  19  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Notes to Financial Statements — continued

 

 

due to counterparty risk was $950,637, representing the fair value of such derivatives in an asset position, with the highest amount from any one counterparty being $318,243. To mitigate this risk, the Fund has entered into master netting agreements with substantially all its derivative counterparties, which allows it and a counterparty to aggregate amounts owed by each of them for derivative transactions under the agreement into a single net amount payable by either the Fund or the counterparty. Counterparties may be required to pledge collateral in the form of cash or U.S. Treasuries for the benefit of the Fund if the net amount due from the counterparty with respect to a derivative contract exceeds a certain threshold. The amount of collateral posted by the counterparties with respect to such contracts would also reduce the amount of any loss incurred.

The fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) and whose primary underlying risk exposure is foreign exchange risk at August 31, 2013 was as follows:

 

    Fair Value  
Derivative   Asset Derivative      Liability Derivative  

Forward foreign currency exchange contracts

  $ 950,637 (1)     $         —   

 

(1) 

Statement of Assets and Liabilities location: Receivable for open forward foreign currency exchange contracts; Net unrealized appreciation.

The effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) on the Statement of Operations and whose primary underlying risk exposure is foreign exchange risk for the year ended August 31, 2013 was as follows:

 

Derivative   Realized Gain (Loss)
on Derivatives Recognized
in Income
     Change in Unrealized
Appreciation (Depreciation) on
Derivatives Recognized in  Income
 

Forward foreign currency exchange contracts

  $ (5,186,653 )(1)     $ 1,372,822 (2) 

 

(1) 

Statement of Operations location: Net realized gain (loss) – Foreign currency and forward foreign currency exchange contract transactions.

 

(2) 

Statement of Operations location: Change in unrealized appreciation (depreciation) – Foreign currency and forward foreign currency exchange contracts.

The average notional amount of forward foreign currency exchange contracts outstanding during the year ended August 31, 2013, which is indicative of the volume of this derivative type, was approximately $157,988,000.

8  Committed Facility Agreement

Effective February 6, 2013, the Fund entered into a Committed Facility Agreement (the Agreement) with a major financial institution that allows it to borrow up to $525 million over a rolling 180 calendar day period. Interest is charged at a rate above 1-month LIBOR and is payable monthly. The Fund is charged a commitment fee of 0.25% per annum on the unused portion of the commitment if outstanding borrowings are less than 85% of the borrowing limit. Under the terms of the Agreement, the Fund is required to satisfy certain collateral requirements and maintain a certain level of net assets. Prior to February 6, 2013, the Fund had a Committed Facility Agreement with another major financial institution to borrow up to $514 million. Under the terms of such agreement, the Fund was charged interest at a rate above 3-month LIBOR and was payable monthly. The Fund was charged a commitment fee of 0.55% per annum on the unused portion of the commitment. At August 31, 2013, the Fund had borrowings outstanding under the Agreement of $447 million at an interest rate of 0.78%. The carrying amount of the borrowings at August 31, 2013 approximated its fair value. If measured at fair value, borrowings under the Agreement would have been considered as Level 2 in the fair value hierarchy (see Note 10) at August 31, 2013. For the year ended August 31, 2013, the average borrowings under the agreements and the average interest rate (excluding fees) were $447 million and 0.91%, respectively.

9  Risks Associated with Foreign Investments

Investing in securities issued by companies whose principal business activities are outside the United States may involve significant risks not present in domestic investments. For example, there is generally less publicly available information about foreign companies, particularly those not subject to the disclosure and reporting requirements of the U.S. securities laws. Certain foreign issuers are generally not bound by uniform accounting, auditing, and financial reporting requirements and standards of practice comparable to those applicable to domestic issuers. Investments in foreign securities also involve the risk of possible adverse changes in investment or exchange control regulations, expropriation or confiscatory taxation, limitation on the removal of funds or other assets of the Fund, political or financial instability or diplomatic and other developments which could affect such investments. Foreign securities markets, while growing in volume and sophistication, are generally not as developed as those in the United States, and securities of some foreign issuers (particularly those located in developing countries) may be less liquid and more volatile than securities of comparable U.S. companies. In general, there is less overall governmental supervision and regulation of foreign securities markets, broker/dealers and issuers than in the United States.

 

  20  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Notes to Financial Statements — continued

 

 

10  Fair Value Measurements

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

 

Ÿ  

Level 1 – quoted prices in active markets for identical investments

 

Ÿ  

Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

 

Ÿ  

Level 3 – significant unobservable inputs (including a fund’s own assumptions in determining the fair value of investments)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At August 31, 2013, the hierarchy of inputs used in valuing the Fund’s investments and open derivative instruments, which are carried at value, were as follows:

 

Asset Description   Level 1      Level 2      Level 3      Total  

Common Stocks

          

Consumer Discretionary

  $ 71,920,117       $       $         —       $ 71,920,117   

Consumer Staples

    42,899,886         13,340,081                 56,239,967   

Energy

    140,649,789         35,367,047                 176,016,836   

Financials

    307,292,250         41,316,824                 348,609,074   

Health Care

    115,852,807         42,898,946                 158,751,753   

Industrials

    139,970,533         776,582                 140,747,115   

Information Technology

    104,241,538                         104,241,538   

Materials

    59,943,831                         59,943,831   

Telecommunication Services

    12,885,170         42,508,528                 55,393,698   

Utilities

    88,227,429         4,827,080                 93,054,509   

Total Common Stocks

  $ 1,083,883,350       $ 181,035,088    $       $ 1,264,918,438   

Preferred Stocks

          

Consumer Staples

  $       $ 15,308,283       $       $ 15,308,283   

Energy

            7,287,765                 7,287,765   

Financials

    127,138,229         225,640,710                 352,778,939   

Industrials

            11,739,802                 11,739,802   

Telecommunication Services

            2,898,163                 2,898,163   

Utilities

    4,038,118         49,209,847                 53,247,965   

Total Preferred Stocks

  $ 131,176,347       $ 312,084,570       $       $ 443,260,917   

Corporate Bonds & Notes

  $       $ 140,257,935       $       $ 140,257,935   

Short-Term Investments

            15,930,910                 15,930,910   

Total Investments

  $ 1,215,059,697       $ 649,308,503       $       $ 1,864,368,200   

Forward Foreign Currency Exchange Contracts

  $       $ 950,637       $       $ 950,637   

Total

  $ 1,215,059,697       $ 650,259,140       $       $ 1,865,318,837   

 

* Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the year ended August 31, 2013 is not presented. At August 31, 2013, there were no investments transferred between Level 1 and Level 2 during the year then ended.

 

  21  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Report of Independent Registered Public Accounting Firm

 

 

To the Trustees and Shareholders of Eaton Vance Tax-Advantaged Dividend Income Fund:

We have audited the accompanying statement of assets and liabilities of Eaton Vance Tax-Advantaged Dividend Income Fund (the “Fund”), including the portfolio of investments, as of August 31, 2013, and the related statements of operations and cash flows for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended. These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. Our procedures included confirmation of securities owned as of August 31, 2013, by correspondence with the custodian and brokers; where replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, such financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Eaton Vance Tax-Advantaged Dividend Income Fund as of August 31, 2013, the results of its operations and its cash flows for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America.

DELOITTE & TOUCHE LLP

Boston, Massachusetts

October 15, 2013

 

  22  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Federal Tax Information (Unaudited)

 

 

The Form 1099-DIV you receive in January 2014 will show the tax status of all distributions paid to your account in calendar year 2013. Shareholders are advised to consult their own tax adviser with respect to the tax consequences of their investment in the Fund. As required by the Internal Revenue Code and/or regulations, shareholders must be notified regarding the status of qualified dividend income for individuals and the dividends received deduction for corporations.

Qualified Dividend Income.  The Fund designates approximately $112,300,479, or up to the maximum amount of such dividends allowable pursuant to the Internal Revenue Code, as qualified dividend income eligible for the reduced tax rate of 15%.

Dividends Received Deduction.  Corporate shareholders are generally entitled to take the dividends received deduction on the portion of the Fund’s dividend distribution that qualifies under tax law. For the Fund’s fiscal 2013 ordinary income dividends, 59.07% qualifies for the corporate dividends received deduction.

 

  23  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Annual Meeting of Shareholders (Unaudited)

 

 

The Fund held its Annual Meeting of Shareholders on June 21, 2013. The following action was taken by the shareholders:

Item 1:  The election of Scott E. Eston, Benjamin C. Esty, Allen R. Freedman and Lynn A. Stout as Class I Trustees of the Fund for a three-year term expiring in 2016.

 

Nominee for Trustee

Elected by All Shareholders

  Number of Shares  
  For      Withheld  

Scott E. Eston

    65,027,784         1,484,606   

Benjamin C. Esty

    64,992,376         1,520,014   

Allen R. Freedman

    64,850,013         1,662,377   

Lynn A. Stout

    64,675,200         1,837,190   

 

  24  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Dividend Reinvestment Plan

 

 

The Fund offers a dividend reinvestment plan (Plan) pursuant to which shareholders may elect to have distributions automatically reinvested in common shares (Shares) of the Fund. You may elect to participate in the Plan by completing the Dividend Reinvestment Plan Application Form. If you do not participate, you will receive all distributions in cash paid by check mailed directly to you by American Stock Transfer & Trust Company (AST) as dividend paying agent. On the distribution payment date, if the NAV per Share is equal to or less than the market price per Share plus estimated brokerage commissions, then new Shares will be issued. The number of Shares shall be determined by the greater of the NAV per Share or 95% of the market price. Otherwise, Shares generally will be purchased on the open market by AST, the Plan agent (Agent). Distributions subject to income tax (if any) are taxable whether or not Shares are reinvested.

If your Shares are in the name of a brokerage firm, bank, or other nominee, you can ask the firm or nominee to participate in the Plan on your behalf. If the nominee does not offer the Plan, you will need to request that the Fund’s transfer agent re-register your Shares in your name or you will not be able to participate.

The Agent’s service fee for handling distributions will be paid by the Fund. Plan participants will be charged their pro rata share of brokerage commissions on all open-market purchases.

Plan participants may withdraw from the Plan at any time by writing to the Agent at the address noted on the following page. If you withdraw, you will receive Shares in your name for all Shares credited to your account under the Plan. If a participant elects by written notice to the Agent to sell part or all of his or her Shares and remit the proceeds, the Agent is authorized to deduct a $5.00 fee plus brokerage commissions from the proceeds.

If you wish to participate in the Plan and your Shares are held in your own name, you may complete the form on the following page and deliver it to the Agent. Any inquiries regarding the Plan can be directed to the Agent at 1-866-439-6787.

 

  25  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Application for Participation in Dividend Reinvestment Plan

 

 

 

This form is for shareholders who hold their common shares in their own names. If your common shares are held in the name of a brokerage firm, bank, or other nominee, you should contact your nominee to see if it will participate in the Plan on your behalf. If you wish to participate in the Plan, but your brokerage firm, bank, or nominee is unable to participate on your behalf, you should request that your common shares be re-registered in your own name which will enable your participation in the Plan.

The following authorization and appointment is given with the understanding that I may terminate it at any time by terminating my participation in the Plan as provided in the terms and conditions of the Plan.

 

 

Please print exact name on account:

 

Shareholder signature                                                          Date

 

Shareholder signature                                                          Date

Please sign exactly as your common shares are registered. All persons whose names appear on the share certificate must sign.

YOU SHOULD NOT RETURN THIS FORM IF YOU WISH TO RECEIVE YOUR DISTRIBUTIONS IN CASH. THIS IS NOT A PROXY.

This authorization form, when signed, should be mailed to the following address:

Eaton Vance Tax-Advantaged Dividend Income Fund

c/o American Stock Transfer & Trust Company

P.O. Box 922

Wall Street Station

New York, NY 10269-0560

 

 

Number of Employees

The Fund is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as a closed-end management investment company and has no employees.

Number of Shareholders

As of August 31, 2013, Fund records indicate that there are 77 registered shareholders and approximately 53,339 shareholders owning the Fund shares in street name, such as through brokers, banks, and financial intermediaries.

If you are a street name shareholder and wish to receive Fund reports directly, which contain important information about the Fund, please write or call:

Eaton Vance Distributors, Inc.

Two International Place

Boston, MA 02110

1-800-262-1122

New York Stock Exchange symbol

The New York Stock Exchange symbol is EVT.

 

  26  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Board of Trustees’ Contract Approval

 

 

Overview of the Contract Review Process

The Investment Company Act of 1940, as amended (the “1940 Act”), provides, in substance, that each investment advisory agreement between a fund and its investment adviser will continue in effect from year to year only if its continuation is approved at least annually by the fund’s board of trustees, including by a vote of a majority of the trustees who are not “interested persons” of the fund (“Independent Trustees”), cast in person at a meeting called for the purpose of considering such approval.

At a meeting of the Boards of Trustees (each a “Board”) of the Eaton Vance group of mutual funds (the “Eaton Vance Funds”) held on April 23, 2013, the Board, including a majority of the Independent Trustees, voted to approve continuation of existing advisory and sub-advisory agreements for the Eaton Vance Funds for an additional one-year period. In voting its approval, the Board relied upon the affirmative recommendation of the Contract Review Committee of the Board, which is a committee comprised exclusively of Independent Trustees. Prior to making its recommendation, the Contract Review Committee reviewed information furnished by each adviser to the Eaton Vance Funds (including information specifically requested by the Board) for a series of meetings of the Contract Review Committee held between February and April 2013, as well as information considered during prior meetings of the committee. Such information included, among other things, the following:

Information about Fees, Performance and Expenses

 

Ÿ  

An independent report comparing the advisory and related fees paid by each fund with fees paid by comparable funds;

 

Ÿ  

An independent report comparing each fund’s total expense ratio and its components to comparable funds;

 

Ÿ  

An independent report comparing the investment performance of each fund (including, where relevant, yield data, Sharpe ratios and information ratios) to the investment performance of comparable funds over various time periods;

 

Ÿ  

Data regarding investment performance in comparison to benchmark indices and customized peer groups, in each case as approved by the Board with respect to the funds;

 

Ÿ  

For each fund, comparative information concerning the fees charged and the services provided by each adviser in managing other accounts (including mutual funds, other collective investment funds and institutional accounts) using investment strategies and techniques similar to those used in managing such fund;

 

Ÿ  

Profitability analyses for each adviser with respect to each fund;

Information about Portfolio Management and Trading

 

Ÿ  

Descriptions of the investment management services provided to each fund, including the investment strategies and processes employed, and any changes in portfolio management processes and personnel;

 

Ÿ  

Information about the allocation of brokerage and the benefits received by each adviser as a result of brokerage allocation, including information concerning the acquisition of research through client commission arrangements and the fund’s policies with respect to “soft dollar” arrangements;

 

Ÿ  

Data relating to portfolio turnover rates of each fund;

 

Ÿ  

The procedures and processes used to determine the fair value of fund assets and actions taken to monitor and test the effectiveness of such procedures and processes;

 

Ÿ  

Information about each adviser’s processes for monitoring best execution of portfolio transactions, and other policies and practices of each adviser with respect to trading;

Information about each Adviser

 

Ÿ  

Reports detailing the financial results and condition of each adviser;

 

Ÿ  

Descriptions of the qualifications, education and experience of the individual investment professionals whose responsibilities include portfolio management and investment research for the funds, and information relating to their compensation and responsibilities with respect to managing other mutual funds and investment accounts;

 

Ÿ  

Copies of the Codes of Ethics of each adviser and its affiliates, together with information relating to compliance with and the administration of such codes;

 

Ÿ  

Copies of or descriptions of each adviser’s policies and procedures relating to proxy voting, the handling of corporate actions and class actions;

 

Ÿ  

Information concerning the resources devoted to compliance efforts undertaken by each adviser and its affiliates on behalf of the funds (including descriptions of various compliance programs) and their record of compliance with investment policies and restrictions, including policies with respect to market-timing, late trading and selective portfolio disclosure, and with policies on personal securities transactions;

 

Ÿ  

Descriptions of the business continuity and disaster recovery plans of each adviser and its affiliates;

 

Ÿ  

A description of Eaton Vance Management’s procedures for overseeing third party advisers and sub-advisers, including with respect to regulatory and compliance issues, investment management and other matters;

 

  27  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Board of Trustees’ Contract Approval — continued

 

 

Other Relevant Information

 

Ÿ  

Information concerning the nature, cost and character of the administrative and other non-investment management services provided by Eaton Vance Management and its affiliates;

 

Ÿ  

Information concerning management of the relationship with the custodian, subcustodians and fund accountants by each adviser or the funds’ administrator; and

 

Ÿ  

The terms of each advisory agreement.

In addition to the information identified above, the Contract Review Committee considered information provided from time to time by each adviser throughout the year at meetings of the Board and its committees. Over the course of the twelve-month period ended April 30, 2013, with respect to one or more funds, the Board met eight times and the Contract Review Committee, the Audit Committee, the Governance Committee, the Portfolio Management Committee and the Compliance Reports and Regulatory Matters Committee, each of which is a Committee comprised solely of Independent Trustees, met eight, twenty-one, five, nine and thirteen times respectively. At such meetings, the Trustees participated in investment and performance reviews with the portfolio managers and other investment professionals of each adviser relating to each fund. The Board and its Committees considered the investment and trading strategies used in pursuing each fund’s investment objective, including, where relevant, the use of derivative instruments, as well as processes for monitoring best execution of portfolio transactions and risk management techniques. The Board and its Committees also evaluated issues pertaining to industry and regulatory developments, compliance procedures, fund governance and other issues with respect to the funds, and received and participated in reports and presentations provided by Eaton Vance Management and other fund advisers with respect to such matters.

For funds that invest through one or more underlying portfolios, the Board considered similar information about the portfolio(s) when considering the approval of advisory agreements. In addition, in cases where the fund’s investment adviser has engaged a sub-adviser, the Board considered similar information about the sub-adviser when considering the approval of any sub-advisory agreement.

The Contract Review Committee was assisted throughout the contract review process by Goodwin Procter LLP, legal counsel for the Independent Trustees. The members of the Contract Review Committee relied upon the advice of such counsel and their own business judgment in determining the material factors to be considered in evaluating each advisory and sub-advisory agreement and the weight to be given to each such factor. The conclusions reached with respect to each advisory and sub-advisory agreement were based on a comprehensive evaluation of all the information provided and not any single factor. Moreover, each member of the Contract Review Committee may have placed varying emphasis on particular factors in reaching conclusions with respect to each advisory and sub-advisory agreement.

Results of the Process

Based on its consideration of the foregoing, and such other information as it deemed relevant, including the factors and conclusions described below, the Contract Review Committee concluded that the continuation of the investment advisory agreement of Eaton Vance Tax-Advantaged Dividend Income Fund (the “Fund”) with Eaton Vance Management (the “Adviser”), including its fee structure, is in the interests of shareholders and, therefore, the Contract Review Committee recommended to the Board approval of the agreement. The Board accepted the recommendation of the Contract Review Committee as well as the factors considered and conclusions reached by the Contract Review Committee with respect to the agreement. Accordingly, the Board, including a majority of the Independent Trustees, voted to approve continuation of the investment advisory agreement for the Fund.

Nature, Extent and Quality of Services

In considering whether to approve the investment advisory agreement of the Fund, the Board evaluated the nature, extent and quality of services provided to the Fund by the Adviser.

The Board considered the Adviser’s management capabilities and investment process with respect to the types of investments held by the Fund, including the education, experience and number of its investment professionals and other personnel who provide portfolio management, investment research, and similar services to the Fund, including recent changes to such personnel. In particular, the Board considered the abilities and experience of such investment personnel in analyzing special considerations relevant to investing in dividend-paying common and preferred stocks. The Board noted the Adviser’s in-house equity research capabilities and experience in managing funds that seek to maximize after-tax returns. The Board also took into account the resources dedicated to portfolio management and other services, including the compensation methods of the Adviser to recruit and retain investment personnel, and the time and attention devoted to the Fund by senior management.

The Board reviewed the compliance programs of the Adviser and relevant affiliates thereof. Among other matters, the Board considered compliance and reporting matters relating to personal trading by investment personnel, selective disclosure of portfolio holdings, late trading, frequent trading, portfolio valuation, business continuity and the allocation of investment opportunities. The Board also evaluated the responses of the Adviser and its affiliates to requests in recent years from regulatory authorities such as the Securities and Exchange Commission and the Financial Industry Regulatory Authority.

The Board considered shareholder and other administrative services provided or managed by Eaton Vance Management and its affiliates, including transfer agency and accounting services. The Board evaluated the benefits to shareholders of investing in a fund that is a part of a large family of funds.

 

  28  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Board of Trustees’ Contract Approval — continued

 

 

After consideration of the foregoing factors, among others, the Board concluded that the nature, extent and quality of services provided by the Adviser, taken as a whole, are appropriate and consistent with the terms of the investment advisory agreement.

Fund Performance

The Board compared the Fund’s investment performance to a relevant universe of similarly managed funds identified by an independent data provider as well as a customized peer group of similarly managed funds and appropriate benchmark indices. The Board reviewed comparative performance data for the one-, three- and five-year periods ended September 30, 2012 for the Fund. The Board concluded that the performance of the Fund was satisfactory.

Management Fees and Expenses

The Board reviewed contractual investment advisory fee rates payable by the Fund (referred to as “management fees”). As part of its review, the Board considered the management fees and the Fund’s total expense ratio for the year ended September 30, 2012, as compared to a group of similarly managed funds selected by an independent data provider. In considering the Fund’s total expense ratio and management fees, the Board noted the impact of the Fund’s use of leverage. The Board noted that the Adviser had waived fees and/or paid expenses for the Fund. The Board also considered factors that had an impact on Fund expense ratios, as identified by management in response to inquiries from the Contract Review Committee, as well as actions taken by management in recent years to reduce expenses at the Eaton Vance fund complex level, including the negotiation of reduced fees for transfer agency and custody services.

After reviewing the foregoing information, and in light of the nature, extent and quality of the services provided by the Adviser, the Board concluded that the management fees charged for advisory and related services are reasonable.

Profitability

The Board reviewed the level of profits realized by the Adviser and relevant affiliates thereof in providing investment advisory and administrative services to the Fund and to all Eaton Vance Funds as a group. The Board considered the level of profits realized without regard to revenue sharing or other payments by the Adviser and its affiliates to third parties in respect of distribution services. The Board also considered other direct or indirect benefits received by the Adviser and its affiliates in connection with their relationships with the Fund, including the benefits of research services that may be available to the Adviser as a result of securities transactions effected for the Fund and other investment advisory clients.

The Board concluded that, in light of the foregoing factors and the nature, extent and quality of the services rendered, the profits realized by the Adviser and its affiliates are reasonable.

Economies of Scale

In reviewing management fees and profitability, the Board also considered the extent to which the Adviser and its affiliates, on the one hand, and the Fund, on the other hand, can expect to realize benefits from economies of scale as the assets of the Fund increase. The Board acknowledged the difficulty in accurately measuring the benefits resulting from the economies of scale with respect to the management of any specific fund or group of funds. The Board reviewed data summarizing the increases and decreases in the assets of the Fund and of all Eaton Vance Funds as a group over various time periods, and evaluated the extent to which the total expense ratio of the Fund and the profitability of the Adviser and its affiliates may have been affected by such increases or decreases. Based upon the foregoing, the Board concluded that the Fund currently shares in the benefits from economies of scale. The Board also concluded that, assuming reasonably foreseeable increases in the assets of the Fund, the structure of the advisory fee, which includes breakpoints at several asset levels, will allow the Fund to continue to benefit from economies of scale in the future.

 

  29  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Management and Organization

 

 

Fund Management.  The Trustees of Eaton Vance Tax-Advantaged Dividend Income Fund (the Fund) are responsible for the overall management and supervision of the Fund’s affairs. The Trustees and officers of the Fund are listed below. Except as indicated, each individual has held the office shown or other offices in the same company for the last five years. The “Noninterested Trustees” consist of those Trustees who are not “interested persons” of the Fund, as that term is defined under the 1940 Act. The business address of each Trustee and officer is Two International Place, Boston, Massachusetts 02110. As used below, “EVC” refers to Eaton Vance Corp., “EV” refers to Eaton Vance, Inc., “EVM” refers to Eaton Vance Management, “BMR” refers to Boston Management and Research and “EVD” refers to Eaton Vance Distributors, Inc. EVC and EV are the corporate parent and trustee, respectively, of EVM and BMR. EVD is a wholly-owned subsidiary of EVC. Each officer affiliated with Eaton Vance may hold a position with other Eaton Vance affiliates that is comparable to his or her position with EVM listed below. Each Trustee oversees 189 portfolios in the Eaton Vance Complex (including all master and feeder funds in a master feeder structure). Each officer serves as an officer of certain other Eaton Vance funds. Each Trustee serves for a three year term. Each officer serves until his or her successor is elected.

 

Name and Year of Birth   

Position(s)

with the

Fund

    

Term of Office;

Length of
Service

    

Principal Occupation(s) and Directorships

During Past Five Years and Other Relevant Experience

Interested Trustee

Thomas E. Faust Jr.

1958

  

Class II

Trustee

    

Until 2014.

3 years.

Trustee since 2007.

    

Chairman, Chief Executive Officer and President of EVC, Director and President of EV, Chief Executive Officer and President of EVM and BMR, and Director of EVD. Trustee and/or officer of 189 registered investment companies. Mr. Faust is an interested person because of his positions with EVM, BMR, EVD, EVC and EV, which are affiliates of the Fund.

Directorships in the Last Five Years.(1) Director of EVC and Hexavest Inc.

            

Noninterested Trustees

Scott E. Eston

1956

  

Class I

Trustee

    

Until 2016.

3 years.

Trustee since 2011.

    

Private investor. Formerly held various positions at Grantham, Mayo, Van Otterloo and Co., L.L.C. (investment management firm) (1997-2009), including Chief Operating Officer (2002-2009), Chief Financial Officer (1997-2009) and Chairman of the Executive Committee (2002-2008); President and Principal Executive Officer, GMO Trust (open-end registered investment company) (2006-2009). Former Partner, Coopers and Lybrand L.L.P. (now PricewaterhouseCoopers) (public accounting firm) (1987-1997).

Directorships in the Last Five Years. None.

Benjamin C. Esty

1963

  

Class I

Trustee

    

Until 2016.

3 years.

Trustee since 2005.

    

Roy and Elizabeth Simmons Professor of Business Administration and Finance Unit Head, Harvard University Graduate School of Business Administration.

Directorships in the Last Five Years.(1) None.

Allen R. Freedman

1940

  

Class I

Trustee

    

Until 2016.

3 years.

Trustee since 2007.

    

Private Investor. Former Chairman (2002-2004) and a Director (1983-2004) of Systems & Computer Technology Corp. (provider of software to higher education). Formerly, a Director of Loring Ward International (fund distributor) (2005-2007). Former Chairman and a Director of Indus International, Inc. (provider of enterprise management software to the power generating industry) (2005-2007). Former Chief Executive Officer of Assurant, Inc. (insurance provider) (1979-2000).

Directorships in the Last Five Years.(1) Director of Stonemor Partners, L.P. (owner and operator of cemeteries). Formerly, Director of Assurant, Inc. (insurance provider) (1979-2011).

William H. Park

1947

  

Class II

Trustee

    

Until 2014.

3 years.

Trustee since 2003.

    

Consultant and private investor. Formerly, Chief Financial Officer, Aveon Group L.P. (investment management firm) (2010-2011). Formerly, Vice Chairman, Commercial Industrial Finance Corp. (specialty finance company) (2006-2010). Formerly, President and Chief Executive Officer, Prizm Capital Management, LLC (investment management firm) (2002-2005). Formerly, Executive Vice President and Chief Financial Officer, United Asset Management Corporation (investment management firm) (1982-2001). Formerly, Senior Manager, Price Waterhouse (now PricewaterhouseCoopers) (an independent registered public accounting firm) (1972-1981).

Directorships in the Last Five Years.(1) None.

Ronald A. Pearlman

1940

  

Class III

Trustee

    

Until 2015.

3 years.

Trustee since 2003.

    

Professor of Law, Georgetown University Law Center. Formerly, Deputy Assistant Secretary (Tax Policy) and Assistant Secretary (Tax Policy), U.S. Department of the Treasury (1983-1985). Formerly, Chief of Staff, Joint Committee on Taxation, U.S. Congress (1988-1990).

Directorships in the Last Five Years.(1) None.

 

  30  


Eaton Vance

Tax-Advantaged Dividend Income Fund

August 31, 2013

 

Management and Organization — continued

 

 

Name and Year of Birth   

Position(s)

with the

Fund

    

Term of Office;

Length of
Service

    

Principal Occupation(s) and Directorships

During Past Five Years and Other Relevant Experience

Noninterested Trustees (continued)

Helen Frame Peters

1948

  

Class III

Trustee

    

Until 2015.

3 years.

Trustee since 2008.

    

Professor of Finance, Carroll School of Management, Boston College. Formerly, Dean, Carroll School of Management, Boston College (2000-2002). Formerly, Chief Investment Officer, Fixed Income, Scudder Kemper Investments (investment management firm) (1998-1999). Formerly, Chief Investment Officer, Equity and Fixed Income, Colonial Management Associates (investment management firm) (1991-1998).

Directorships in the Last Five Years.(1) Formerly, Director of BJ’s Wholesale Club, Inc. (wholesale club retailer) (2004-2011). Formerly, Trustee of SPDR Index Shares Funds and SPDR Series Trust (exchange traded funds) (2000-2009). Formerly, Director of Federal Home Loan Bank of Boston (a bank for banks) (2007-2009).

Lynn A. Stout

1957

  

Class I

Trustee

    

Until 2016.

3 years.

Trustee since 2003.

    

Distinguished Professor of Corporate and Business Law, Jack G. Clarke Business Law Institute, Cornell University Law School. Formerly, the Paul Hastings Professor of Corporate and Securities Law (2006-2012) and Professor of Law (2001-2006), University of California at Los Angeles School of Law.

Directorships in the Last Five Years.(1) None.

Harriett Tee Taggart

1948

  

Class II

Trustee

    

Until 2014.

2 years.

Trustee since 2011.

    

Managing Director, Taggart Associates (a professional practice firm). Formerly, Partner and Senior Vice President, Wellington Management Company, LLP (investment management firm) (1983-2006).

Directorships in the Last Five Years. Director of Albemarle Corporation (chemicals manufacturer) (since 2007) and The Hanover Group (specialty property and casualty insurance company) (since 2009). Formerly, Director of Lubrizol Corporation (specialty chemicals) (2007-2011).

Ralph F. Verni

1943

  

Chairman of the Board and Class III

Trustee

    

Until 2015.

3 years.

Chairman of the Board since 2007 and Trustee since 2005.

    

Consultant and private investor. Formerly, Chief Investment Officer (1982-1992), Chief Financial Officer (1988-1990) and Director (1982-1992), New England Life. Formerly, Chairperson, New England Mutual Funds (1982-1992). Formerly, President and Chief Executive Officer, State Street Management & Research (1992-2000). Formerly, Chairperson, State Street Research Mutual Funds (1992-2000). Formerly, Director, W.P. Carey, LLC (1998-2004) and First Pioneer Farm Credit Corp. (2002-2006).

Directorships in the Last Five Years.(1) None.

            

Principal Officers who are not Trustees

Name and Year of Birth   

Position(s)
with the

Fund

    

Length of

Service

    

Principal Occupation(s)

During Past Five Years

Judith A. Saryan

1954

   President      Since 2011      Vice President of EVM and BMR.

Maureen A. Gemma

1960

   Vice President, Secretary and Chief Legal Officer      Vice President since 2011, Secretary since 2007 and Chief Legal Officer since 2008      Vice President of EVM and BMR.

James F. Kirchner(2)

1967

   Treasurer      Since 2013      Vice President of EVM and BMR.

Paul M. O’Neil

1953

   Chief Compliance Officer      Since 2004      Vice President of EVM and BMR.

 

(1)

During their respective tenures, the Trustees (except Mr. Eston and Ms. Taggart) also served as Board members of one or more of the following Eaton Vance funds (which operated in the years noted): Eaton Vance Credit Opportunities Fund (launched in 2005 and terminated in 2010); Eaton Vance Insured Florida Plus Municipal Bond Fund (launched in 2002 and terminated in 2009); and Eaton Vance National Municipal Income Trust (launched in 1998 and terminated in 2009).

(2)

Prior to 2013, Mr. Kirchner served as Assistant Treasurer of the Fund since 2007.

 

  31  


Eaton Vance Funds

 

IMPORTANT NOTICES

 

 

Privacy.  The Eaton Vance organization is committed to ensuring your financial privacy. Each of the financial institutions identified below has in effect the following policy (“Privacy Policy”) with respect to nonpublic personal information about its customers:

 

Ÿ  

Only such information received from you, through application forms or otherwise, and information about your Eaton Vance fund transactions will be collected. This may include information such as name, address, social security number, tax status, account balances and transactions.

 

Ÿ  

None of such information about you (or former customers) will be disclosed to anyone, except as permitted by law (which includes disclosure to employees necessary to service your account). In the normal course of servicing a customer’s account, Eaton Vance may share information with unaffiliated third parties that perform various required services such as transfer agents, custodians and broker-dealers.

 

Ÿ  

Policies and procedures (including physical, electronic and procedural safeguards) are in place that are designed to protect the confidentiality of such information.

 

Ÿ  

We reserve the right to change our Privacy Policy at any time upon proper notification to you. Customers may want to review our Privacy Policy periodically for changes by accessing the link on our homepage: www.eatonvance.com.

Our pledge of privacy applies to the following entities within the Eaton Vance organization: the Eaton Vance Family of Funds, Eaton Vance Management, Eaton Vance Investment Counsel, Eaton Vance Distributors, Inc., Eaton Vance Trust Company, Eaton Vance Management’s Real Estate Investment Group and Boston Management and Research. In addition, our Privacy Policy applies only to those Eaton Vance customers who are individuals and who have a direct relationship with us. If a customer’s account (i.e., fund shares) is held in the name of a third-party financial advisor/broker-dealer, it is likely that only such advisor’s privacy policies apply to the customer. This notice supersedes all previously issued privacy disclosures. For more information about Eaton Vance’s Privacy Policy, please call 1-800-262-1122.

Delivery of Shareholder Documents.  The Securities and Exchange Commission (SEC) permits funds to deliver only one copy of shareholder documents, including prospectuses, proxy statements and shareholder reports, to fund investors with multiple accounts at the same residential or post office box address. This practice is often called “householding” and it helps eliminate duplicate mailings to shareholders. Eaton Vance, or your financial advisor, may household the mailing of your documents indefinitely unless you instruct Eaton Vance, or your financial advisor, otherwise. If you would prefer that your Eaton Vance documents not be householded, please contact Eaton Vance at 1-800-262-1122, or contact your financial advisor. Your instructions that householding not apply to delivery of your Eaton Vance documents will be effective within 30 days of receipt by Eaton Vance or your financial advisor.

Portfolio Holdings.  Each Eaton Vance Fund and its underlying Portfolio(s) (if applicable) will file a schedule of portfolio holdings on Form N-Q with the SEC for the first and third quarters of each fiscal year. The Form N-Q will be available on the Eaton Vance website at www.eatonvance.com, by calling Eaton Vance at 1-800-262-1122 or in the EDGAR database on the SEC’s website at www.sec.gov. Form N-Q may also be reviewed and copied at the SEC’s public reference room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the public reference room).

Proxy Voting.  From time to time, funds are required to vote proxies related to the securities held by the funds. The Eaton Vance Funds or their underlying Portfolios (if applicable) vote proxies according to a set of policies and procedures approved by the Funds’ and Portfolios’ Boards. You may obtain a description of these policies and procedures and information on how the Funds or Portfolios voted proxies relating to portfolio securities during the most recent 12-month period ended June 30, without charge, upon request, by calling 1-800-262-1122 and by accessing the SEC’s website at www.sec.gov.

Additional Notice to Shareholders.  A Fund also may purchase shares of its common stock in the open market when they trade at a discount to net asset value or at other times if the Fund determines such purchases are advisable. There can be no assurance that a Fund will take such action or that such purchases would reduce the discount. If applicable, a Fund may also redeem or purchase its outstanding auction preferred shares (APS) in order to maintain compliance with regulatory requirements, borrowing or rating agency requirements or for other purposes as it deems appropriate or necessary.

Closed-End Fund Information.  The Eaton Vance closed-end funds make certain fund performance data and portfolio characteristics available on the Eaton Vance website after the end of each month. Portfolio holdings for the most recent month-end are also posted to the website approximately 30 days following the end of the month. This information is available at www.eatonvance.com on the fund information pages under “Individual Investors — Closed-End Funds”.

 

  32  


Investment Adviser and Administrator

Eaton Vance Management

Two International Place

Boston, MA 02110

Custodian

State Street Bank and Trust Company

200 Clarendon Street

Boston, MA 02116

Transfer Agent

American Stock Transfer & Trust Company

59 Maiden Lane

Plaza Level

New York, NY 10038

 

Independent Registered Public Accounting Firm

Deloitte & Touche LLP

200 Berkeley Street

Boston, MA 02116-5022

Fund Offices

Two International Place

Boston, MA 02110

 


LOGO

 

2004-10/13   CE-TADISRC


Item 2. Code of Ethics

Not required in this filing.

Item 3. Audit Committee Financial Expert

The registrant’s Board has designated William H. Park, an independent trustee, as its audit committee financial expert. Mr. Park is a certified public accountant who is a consultant and private investor. Previously, he served as the Chief Financial Officer of Aveon Group, L.P. (an investment management firm), as the Vice Chairman of Commercial Industrial Finance Corp. (specialty finance company), as President and Chief Executive Officer of Prizm Capital Management, LLC (investment management firm), as Executive Vice President and Chief Financial Officer of United Asset Management Corporation (an institutional investment management firm) and as a Senior Manager at Price Waterhouse (now PricewaterhouseCoopers) (an independent registered public accounting firm).


Item 4. Principal Accountant Fees and Services

(a)-(d)

The following table presents the aggregate fees billed to the registrant for the registrant’s fiscal years ended August 31, 2012 and August 31, 2013 by the registrant’s principal accountant, Deloitte & Touche LLP (“D&T”), for professional services rendered for the audit of the registrant’s annual financial statements and fees billed for other services rendered by D&T during such periods.

 

Fiscal Years Ended

   8/31/12      8/31/13  

Audit Fees

   $ 80,900       $ 60,600   

Audit-Related Fees(1)

   $ 0       $ 0   

Tax Fees(2)

   $ 11,820       $ 12,230   

All Other Fees(3)

   $ 1,240       $ 0   
  

 

 

    

 

 

 

Total

   $ 93,960       $ 72,830   
  

 

 

    

 

 

 
(1)  Audit-related fees consist of the aggregate fees billed for assurance and related services that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under the category of audit fees.
(2)  Tax fees consist of the aggregate fees billed for professional services rendered by the principal accountant relating to tax compliance, tax advice, and tax planning and specifically include fees for tax return preparation and other related tax compliance/planning matters.
(3)  All other fees consist of the aggregate fees billed for products and services provided by the principal accountant other than audit, audit-related, and tax services.

(e)(1) The registrant’s audit committee has adopted policies and procedures relating to the pre-approval of services provided by the registrant’s principal accountant (the “Pre-Approval Policies”). The Pre-Approval Policies establish a framework intended to assist the audit committee in the proper discharge of its pre-approval responsibilities. As a general matter, the Pre-Approval Policies (i) specify certain types of audit, audit-related, tax, and other services determined to be pre-approved by the audit committee; and (ii) delineate specific procedures governing the mechanics of the pre-approval process, including the approval and monitoring of audit and non-audit service fees. Unless a service is specifically pre-approved under the Pre-Approval Policies, it must be separately pre-approved by the audit committee.

The Pre-Approval Policies and the types of audit and non-audit services pre-approved therein must be reviewed and ratified by the registrant’s audit committee at least annually. The registrant’s audit committee maintains full responsibility for the appointment, compensation, and oversight of the work of the registrant’s principal accountant.

(e)(2) No services described in paragraphs (b)-(d) above were approved by the registrant’s audit committee pursuant to the “de minimis exception” set forth in Rule 2-01 (c)(7)(i)(C) of Regulation S-X.

(f) Not applicable.

(g) The following table presents (i) the aggregate non-audit fees (i.e., fees for audit-related, tax, and other services) billed for services rendered to the registrant by D&T for the registrant’s fiscal years


ended August 31, 2012 and August 31, 2013; and (ii) the aggregate non-audit fees (i.e., fees for audit-related, tax, and other services) billed for services rendered to the Eaton Vance organization by D&T for the same time periods.

 

Fiscal Years Ended

   8/31/12      8/31/13  

Registrant

   $ 13,060       $ 12,230   

Eaton Vance(1)

   $ 606,619       $ 417,309   
(1) Eaton Vance Management, a subsidiary of Eaton Vance Corp., acts as the registrant’s investment adviser and administrator.

(h) The registrant’s audit committee has considered whether the provision by the registrant’s principal accountant of non-audit services to the registrant’s investment adviser and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant that were not pre-approved pursuant to Rule 2-01(c)(7)(ii) of Regulation S-X is compatible with maintaining the principal accountant’s independence.

Item 5. Audit Committee of Listed Registrants

The registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Securities and Exchange Act of 1934, as amended. William H. Park (Chair), Scott E. Eston, Ronald A. Pearlman, Helen Frame Peters and Ralph F. Verni are the members of the registrant’s audit committee.

Item 6. Schedule of Investments

Please see schedule of investments contained in the Report to Stockholders included under Item 1 of this Form N-CSR.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

The Board of Trustees of the Trust has adopted a proxy voting policy and procedure (the “Fund Policy”), pursuant to which the Trustees have delegated proxy voting responsibility to the Fund’s investment adviser and adopted the investment adviser’s proxy voting policies and procedures (the “Policies”) which are described below. The Trustees will review the Fund’s proxy voting records from time to time and will annually consider approving the Policies for the upcoming year. In the event that a conflict of interest arises between the Fund’s shareholders and the investment adviser, the administrator, or any of their affiliates or any affiliate of the Fund, the investment adviser will generally refrain from voting the proxies related to the companies giving rise to such conflict until it consults with the Board’s Special Committee except as contemplated under the Fund Policy. The Board’s Special Committee will instruct the investment adviser on the appropriate course of action.

The Policies are designed to promote accountability of a company’s management to its shareholders and to align the interests of management with those shareholders. An independent proxy voting service (“Agent”), currently Institutional Shareholder Services, Inc., has been retained to assist in the voting of proxies through the provision of vote analysis, implementation and recordkeeping and disclosure services. The investment adviser will generally vote proxies through the Agent. The Agent is required to vote all proxies and/or refer them back to the investment adviser pursuant to the Policies. It is generally the policy of the investment adviser to vote in accordance with the recommendation of the


Agent. The Agent shall refer to the investment adviser proxies relating to mergers and restructurings, and the disposition of assets, termination, liquidation and mergers contained in mutual fund proxies. The investment adviser will normally vote against anti-takeover measures and other proposals designed to limit the ability of shareholders to act on possible transactions, except in the case of closed-end management investment companies. The investment adviser generally supports management on social and environmental proposals. The investment adviser may abstain from voting from time to time where it determines that the costs associated with voting a proxy outweighs the benefits derived from exercising the right to vote or the economic effect on shareholders interests or the value of the portfolio holding is indeterminable or insignificant.

In addition, the investment adviser will monitor situations that may result in a conflict of interest between the Fund’s shareholders and the investment adviser, the administrator, or any of their affiliates or any affiliate of the Fund by maintaining a list of significant existing and prospective corporate clients. The investment adviser’s personnel responsible for reviewing and voting proxies on behalf of the Fund will report any proxy received or expected to be received from a company included on that list to the personnel of the investment adviser identified in the Policies. If such personnel expects to instruct the Agent to vote such proxies in a manner inconsistent with the guidelines of the Policies or the recommendation of the Agent, the personnel will consult with members of senior management of the investment adviser to determine if a material conflict of interests exists. If it is determined that a material conflict does exist, the investment adviser will seek instruction on how to vote from the Special Committee.

Information on how the Fund voted proxies relating to portfolio securities during the most recent 12 month period ended June 30 is available (1) without charge, upon request, by calling 1-800-262-1122, and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

Item 8. Portfolio Managers of Closed-End Management Investment Companies

John H. Croft, Aamer Khan and Judith A. Saryan and other Eaton Vance investment professionals comprise the investment team responsible for the overall management of the Fund’s investments as well as allocations of the Fund’s assets between common and preferred stocks. Messrs. Croft and Khan and Ms. Saryan are the portfolio managers responsible for the day-to-day management of specific segments of the Fund’s investment portfolio.

Messrs. Croft and Khan have been Eaton Vance analysts for more than five years and are Vice Presidents of EVM and BMR. Ms. Saryan has been an Eaton Vance portfolio manager since 1999 and is a Vice President of EVM and BMR. This information is provided as of the date of filing of this report.

The following tables show, as of the Fund’s most recent fiscal year end, the number of accounts each portfolio manager managed in each of the listed categories and the total assets (in millions of dollars) in the accounts managed within each category. The table also shows the number of accounts with respect to which the advisory fee is based on the performance of the account, if any, and the total assets (in millions of dollars) in those accounts.


     Number of
All Accounts
     Total Assets of
All Accounts
     Number of
Accounts
Paying a
Performance
Fee
     Total Assets of
Accounts Paying
a Performance
Fee
 

John H. Croft

           

Registered Investment Companies

     5       $ 1,531.0         0       $ 0   

Other Pooled Investment Vehicles

     0       $ 0         0       $ 0   

Other Accounts

     8       $ 120.3         0       $ 0   

Aamer Khan

           

Registered Investment Companies

     5       $ 4,249.4         0       $ 0   

Other Pooled Investment Vehicles

     0       $ 0         0       $ 0   

Other Accounts

     0       $ 0         0       $ 0   

Judith A. Saryan

           

Registered Investment Companies

     6       $ 5,275.8         0       $ 0   

Other Pooled Investment Vehicles

     0       $ 0         0       $ 0   

Other Accounts

     0       $ 0         0       $ 0   

The following table shows the dollar range of Fund shares beneficially owned by each portfolio manager as of the Fund’s most recent fiscal year end.

 

Portfolio Manager

   Dollar Range of Equity Securities
Owned in the Fund

John H. Croft

   None

Aamer Khan

   None

Judith A. Saryan

   $10,001-$50,000

Potential for Conflicts of Interest. It is possible that conflicts of interest may arise in connection with a portfolio manager’s management of the Fund’s investments on the one hand and investments of other accounts for which a portfolio manager is responsible on the other. For example, a portfolio manager may have conflicts of interest in allocating management time, resources and investment opportunities among the Fund and other accounts he or she advises. In addition, due to differences in the investment strategies or restrictions between the Fund and the other accounts, a portfolio manager may take action with respect to another account that differs from the action taken with respect to the Fund. In some cases, another account managed by a portfolio manager may compensate the investment adviser based on the performance of the securities held by that account. The existence of such a performance based fee may create additional conflicts of interest for a portfolio manager in the allocation of management time, resources and investment opportunities. Whenever conflicts of interest arise, a portfolio manager will endeavor to exercise his or her discretion in a manner that he or she believes is equitable to all


interested persons. EVM has adopted several policies and procedures designed to address these potential conflicts including a code of ethics and policies which govern the investment adviser’s trading practices, including among other things the aggregation and allocation of trades among clients, brokerage allocation, cross trades and best execution.

Compensation Structure for EVM

Compensation of EVM’s portfolio managers and other investment professionals has three primary components: (1) a base salary, (2) an annual cash bonus, and (3) annual stock-based compensation consisting of options to purchase shares of EVC’s nonvoting common stock and restricted shares of EVC’s nonvoting common stock. EVM’s investment professionals also receive certain retirement, insurance and other benefits that are broadly available to EVM’s employees. Compensation of EVM’s investment professionals is reviewed primarily on an annual basis. Cash bonuses, stock-based compensation awards, and adjustments in base salary are typically paid or put into effect at or shortly after the October 31st fiscal year end of EVC.

Method to Determine Compensation. EVM compensates its portfolio managers based primarily on the scale and complexity of their portfolio responsibilities and the total return performance of managed funds and accounts versus the benchmark(s) stated in the prospectus, as well as an appropriate peer group (as described below). In addition to rankings within peer groups of funds on the basis of absolute performance, consideration may also be given to relative risk-adjusted performance. Risk-adjusted performance measures include, but are not limited to, the Sharpe Ratio. Performance is normally based on periods ending on the September 30th preceding fiscal year end. Fund performance is normally evaluated primarily versus peer groups of funds as determined by Lipper Inc. and/or Morningstar, Inc. When a fund’s peer group as determined by Lipper or Morningstar is deemed by EVM’s management not to provide a fair comparison, performance may instead be evaluated primarily against a custom peer group or market index. In evaluating the performance of a fund and its manager, primary emphasis is normally placed on three-year performance, with secondary consideration of performance over longer and shorter periods. For funds that are tax-managed or otherwise have an objective of after-tax returns, performance is measured net of taxes. For other funds, performance is evaluated on a pre-tax basis. For funds with an investment objective other than total return (such as current income), consideration will also be given to the fund’s success in achieving its objective. For managers responsible for multiple funds and accounts, investment performance is evaluated on an aggregate basis, based on averages or weighted averages among managed funds and accounts. Funds and accounts that have performance-based advisory fees are not accorded disproportionate weightings in measuring aggregate portfolio manager performance.

The compensation of portfolio managers with other job responsibilities (such as heading an investment group or providing analytical support to other portfolios) will include consideration of the scope of such responsibilities and the managers’ performance in meeting them.

EVM seeks to compensate portfolio managers commensurate with their responsibilities and performance, and competitive with other firms within the investment management industry. EVM participates in investment-industry compensation surveys and utilizes survey data as a factor in determining salary, bonus and stock-based compensation levels for portfolio managers and other investment professionals. Salaries, bonuses and stock-based compensation are also influenced by the operating performance of EVM and its parent company. The overall annual cash bonus pool is based on a substantially fixed percentage of pre-bonus operating income. While the salaries of EVM’s portfolio managers are comparatively fixed, cash bonuses and stock-based compensation may fluctuate significantly from year to year, based on changes in manager performance and other factors as described herein. For a high performing portfolio manager, cash bonuses and stock-based compensation may represent a substantial portion of total compensation.


Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

No such purchases this period.

Item 10. Submission of Matters to a Vote of Security Holders

No Material Changes.

Item 11. Controls and Procedures

(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b) There have been no changes in the registrant’s internal controls over financial reporting during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Exhibits

 

(a)(1)   Registrant’s Code of Ethics – Not applicable (please see Item 2).
(a)(2)(i)   Treasurer’s Section 302 certification.
(a)(2)(ii)   President’s Section 302 certification.
(b)   Combined Section 906 certification.


Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Eaton Vance Tax-Advantaged Dividend Income Fund

 

By:  

/s/ Judith A. Saryan

  Judith A. Saryan
  President
Date:     October 8, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By:  

/s/ James F. Kirchner

  James F. Kirchner
  Treasurer
Date:     October 8, 2013
By:  

/s/ Judith A. Saryan

  Judith A. Saryan
  President
Date:   October 8, 2013
EX-99.CERT 2 d612668dex99cert.htm EX-99.CERT SECTION 302 CERTIFICATION Ex-99.CERT Section 302 Certification

Eaton Vance Tax-Advantaged Dividend Income Fund

FORM N-CSR

Exhibit 12(a)(2)(i)

CERTIFICATION

I, James F. Kirchner, certify that:

1. I have reviewed this report on Form N-CSR of Eaton Vance Tax-Advantaged Dividend Income Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: October 8, 2013

 

/s/ James F. Kirchner

James F. Kirchner
Treasurer


Eaton Vance Tax-Advantaged Dividend Income Fund

FORM N-CSR

Exhibit 12(a)(2)(ii)

CERTIFICATION

I, Judith A. Saryan, certify that:

1. I have reviewed this report on Form N-CSR of Eaton Vance Tax-Advantaged Dividend Income Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: October 8, 2013

 

/s/ Judith A. Saryan

Judith A. Saryan
President
EX-99.906CERT 3 d612668dex99906cert.htm EX-99.906CERT SECTION 906 CERTIFICATION EX-99.906CERT Section 906 Certification

Form N-CSR Item 12(b) Exhibit

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The undersigned hereby certify in their capacity as Treasurer and President, respectively, of Eaton Vance Tax-Advantaged Dividend Income Fund (the “Fund”), that:

 

  (a) The Annual Report of the Fund on Form N-CSR for the period ended August 31, 2013 (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

 

  (b) The information contained in the Report fairly presents, in all material respects, the financial condition and the results of operations of the Fund for such period.

A signed original of this written statement required by section 906 has been provided to the Fund and will be retained by the Fund and furnished to the Securities and Exchange Commission or its staff upon request.

Eaton Vance Tax-Advantaged Dividend Income Fund

 

Date: October 8, 2013

/s/ James F. Kirchner

James F. Kirchner
Treasurer
Date: October 8, 2013

/s/ Judith A. Saryan

Judith A. Saryan
President
GRAPHIC 4 g593175g23p84.jpg GRAPHIC begin 644 g593175g23p84.jpg M_]C_X``02D9)1@`!``$`>`!X``#__@`?3$5!1"!496-H;F]L;V=I97,@26YC M+B!6,2XP,0#_VP"$``("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(" M`@("`@,#`@(#`@("`P0#`P,#!`0$`@,$!`0$!`,$!`,!`@("`@("`@("`@," M`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,# M`P,#`P,#`__$`:(```$%`0$!`0$!```````````!`@,$!08'"`D*"P$``P$! M`0$!`0$!`0````````$"`P0%!@<("0H+$``"`0,#`@0#!04$!````7T!`@,` M!!$%$B$Q008346$'(G$4,H&1H0@C0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I M*C0U-CH.$A8:' MB(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7 MV-G:X>+CY.7FY^CIZO'R\_3U]O?X^?H1``(!`@0$`P0'!00$``$"=P`!`@,1 M!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:)BH*#A(6& MAXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76 MU]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_``!$(`+!_&FN>`[#7->^&6B_!R]ET2QUC6=,TZ>/=JTXALMX?;#,?H.UK?A MH>Q?\+L^&:ZWJV@2^(IK2ZT*V\37.K7]_P"'_$VG>&;#_A#6G_X2BSF\97VC M1:#_`&MIMM;RWLVFKJ37@L0NH"`V3K<,?H*UBA'\??A=+I4>KIJWB`++K$WA M^#1W^'WQ$C\77&L0:"WBA;"W\#R>%5\17$L_AQ3J=J8]+9;NU(FM6FC8,0+? M@7;?XW_#"[U3PSI%IXE>[G\7:?X?U/0[VUT'Q))X=';1_ M#NHZSY$J:?I^K7UC=WDB^5;022$(0+6\K&5X;^/OP\UR+P!"VLK_`&G\0=`\ M,:]I/]C:+XVU?PU;P^+[1[OPU%J7BVY\'Z?:>')M66*1-.M_$D>@WM\X6*&S M\]UB(.UO*Q>\)?&?PKXFNM"T4QZK:>)M8TBVUF?3++0?%&N:1HEM?7-]:Z,;#P__`&)HEQ>OI]Q]F@U*\L9K@IB"*3*[@5K?(]>H`*`"@`H`*`"@`H`* M`"@`H`*`"@#\TO'?_(\>,O\`L:_$7_IWO*_9G?%GQ_!H/ M[3%_XAT3P1%K'P7\4ZQIWA:PT_7KNRT74=$C^%W@OXB:`_B7Q+XB2RBM]1F3 MQ4$O9A;Z?:6Q4P(\J6YO[HV^0[6L2?L_?%GQ'\2W\86OB"[TK4/^$<3PK+:W M]O\`#OQG\(-7E?Q%I=SJ=Q:W_P`./B!XAUC6K;3K:%;$6OB`70L=5DGOHK-3 M_94LLIM\@:MY?UY#-;\3?'30/&>LZ58:C\._B!:Z=X&\9>-XO"6B_#OQ!X5U M^/[/'=6?PZ\.7?B_4/C#K%H=2US78KB`7(\.0P30^&M8<+:.($)M\@T]/Z[6 M,[X:?'/4M:U31?#/CS5/#'A_5[O5-2M+6ZU_POXD^$.I>.5GBA_X1S3_``C\ M-?B)KTVOZ7K;7(UC[5:W=QJ,YM-"M+^.WCM?$]C):FP6M\OF>@VOPF^S?#?Q M/\/?[?W_`/"1^,?B/XM_M?\`LK;]C_X6!\4_$GQ+_L_[!_:1^T?8/^$A_LWS M_M,7VC[']I\N'S?L\9L%_P`+?@8FK_!"[U"SN8+#QQ?Z#?2>(OBSXBL]8TO3 M##J6E77Q.T37](@?3YQJH,%YHLNMK=172D-,]DH5;9G#Q&WE86WR.>^'G[.; M>!]>TOQ%+XB\.O=6GC63QM?V'A?P++X5TF^OIOAEJGPWGBCANO%VLW:S2KJ$ M>I27M]>ZG=2O;M%+(_FB:$V^0_PL:7@?X)>+OAZ?#UAX;^)T%GX=MM)\#V/B MZS_X0:TN-<\07?@>TATY)-$UJ_U^YM/#&F:SI=K:6&I6L^D:S<""-WTR^TV\ MD%VAM\@^6QP.E_LH:CIP^#]G/\0-%U;2_A%I/P=M--_M3X?W5WK@U'X4SZ>+ MNZ\-ZE-X\:Q\'V'B"PM+B*YBM](NM0CDO7WZK:FWB_0IM/\`KIS6TK_#VSB\"_ M&-UXQ\675KX3\37%M<>)M=GM[B#0=4E@G@EU2ZDAFAECM2DL3QLK*ZDA@P() M!K]8RW,*__"=U?_Y#H_M3+/\` MH8X7_P`**7_R8?4,=_T!5_\`P34_^1#_`(0/QQ_T)GBO_P`)W5__`)#H_M3+ M/^ACA?\`PHI?_)A]0QW_`$!5_P#P34_^1#_A`_''_0F>*_\`PG=7_P#D.C^U M,L_Z&.%_\**7_P`F'U#'?]`5?_P34_\`D0_X0/QQ_P!"9XK_`/"=U?\`^0Z/ M[4RS_H8X7_PHI?\`R8?4,=_T!5__``34_P#D0_X0/QQ_T)GBO_PG=7_^0Z/[ M4RS_`*&.%_\`"BE_\F'U#'?]`5?_`,$U/_D0_P"$#\*_P#PG=7_ M`/D.C^U,L_Z&.%_\**7_`,F'U#'?]`5?_P`$U/\`Y$/^$#\*__``G= M7_\`D.C^U,L_Z&.%_P#"BE_\F'U#'?\`0%7_`/!-3_Y$/^$#\*_ M_"=U?_Y#H_M3+/\`H8X7_P`**7_R8?4,=_T!5_\`P34_^1/I?]G?0=RT;1O#NFZAX7NO"W@O2+VRGLM#\->&[2$7MWJ"?\2.">59; MJ>[GO#;Y#OMTY37\)_"R?PSJ>HZ_>_$CX@>,/$NJ)H%A=>(?%'_"")=CP[X= MNKZ]M/#$&F^&/`VC:1;Z7-=:IJDEQ=1Z:NIR&_?&H*(H/(-OD'RM8[31O"]C MHFK>)];BN+Z\U+Q7J-I?ZA<7\T,IMH-.TVVTO3=(TU(;>);31[6&WEEC@(=C M<:C>SR2/+=.Q-A?H>=:O\#?#6L:G:ZK-KOBJWG;4;J^\3);7.ALGC>"?6M-U MZWTOQ++>:!/<06%E>Z-H\=J^B3Z-=16NF6]H;EK9#$Q^@;?(Z?3/BW\*=:\5 M7/@71OB;\/=6\;V5UJ5C>>#=,\:>&[_Q5:7NBM.NL6=SX>M-2>_@NK%K:Y%S M$]NKP&WD$H3RVP#LUTL>A4""@`H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@ M#Y#\2_'[QCHWB/7]'M=-\,O;:5K>JZ;;O/9ZHT[P6-_/:PM,T>LHC2F.)2Q5 M$!).%`X'W^"X5R_$8/"8B=;$1G7HTJDE&=)14IPC)I)T6TDWI=MVZL^/Q7$& M-H8G$484J+A1JU(1;C.]H2<5>U1*]EK9)>2,3_AI#QQ_T"O"G_@#J_\`\O:Z M?]3\L_Y_XK_P.E_\I,/]9<=_SZH?^`U/_EH?\-(>./\`H%>%/_`'5_\`Y>T? MZGY9_P`_\5_X'2_^4A_K+CO^?5#_`,!J?_+0_P"&D/''_0*\*?\`@#J__P`O M:/\`4_+/^?\`BO\`P.E_\I#_`%EQW_/JA_X#4_\`EH?\-(>./^@5X4_\`=7_ M`/E[1_J?EG_/_%?^!TO_`)2'^LN._P"?5#_P&I_\M#_AI#QQ_P!`KPI_X`ZO M_P#+VC_4_+/^?^*_\#I?_*0_UEQW_/JA_P"`U/\`Y:'_``TAXX_Z!7A3_P`` M=7_^7M'^I^6?\_\`%?\`@=+_`.4A_K+CO^?5#_P&I_\`+0_X:0\'P\JDH2HQJ-U'%RYG.I%I]]>WT648ZKC\-.M6C",HU7!*" M:5E"$EI*4G>\GUM:VAZC7B'JA0`4`%`!0`4`%`!0`4`,DDC@CDEE=8XH4:21 MW(5$CC4L[LQX"JH))]!0!Y!\/_C-I7C^]TRV@\(^.?"]IXD\/OXK\$:OXLTS M1[+3?&_AN)K#S-4T9=+U[4+S2G6'5M+N!IWB*TT/4F@OEE2S9(+@VYM\@M;Y M'0>)OB5H/A;Q=X'\$W=MJUYK/CO4KG3K%M,MK::RT40:3K&K0WOB&XN+V`V- MI>+H6HV]JL*74]Q-;3>7"8+2ZFM0-OD>A4`?G;:ZGXK\.?#3]I3PKI.I?M#+ M\0=8G_:\N_`7A*T^#?C*Q\*:%J^J>./BUXK\':YX#^)6@_"2S>YU76;2ZTO4 M+&>X\;:FLMWK$,&G+'7%W'I,'PS\?^'/'`\-MXU6V,UGX9U@66G3 MR0PMI\6E?:88C;Y"6GR]/UT,CQ'9_$_3/!GB?Q+X@\1_%_4->C7X)^%M(TE] M4\<>`;?Q#:WNG^";OXASV/A_X5@7W%_X8?\)K"?`_ARU\;>--:B^)VMZE/XH.H^*OB3=ZM\-!\,_& M4GBNX\.PCXMQ:9XOM+6^\!ZEX?\`!6HWTFD:7+=SV5GJ/&7_8U^(O_3O> M5^RY7_R+,N_[!%?"NA?\`")>%_%OAKX9^#8?BQ\1O%^C7,>OWFEW5M'&?".AW^GV0NYYE%Y]CLX(3;Y#O\`U_6YT'C3X%>(]=^(GAOQWH?Q M8\:Z9;VGQ$T;Q?KGAJ>#X=3:/::=HO@G7?"T-EX:GO/AA?:RID?4%1[*\UIK M58]=UV[@\G4)X9D/T"]EML?25`@H`*`,/Q'X8\->,-(NO#WB[P]H?BG0+WRO MMNA^(])L-;TB[\B5)H?M6FZG;S6\_ES1I(OF1MM9%88(!H#;RL97ASX=?#[P M=<)=^$?`O@[PK=1Z3!H$=SX<\,:)H=PFA6UU-?6VBI-IEC`ZZ3%>W%Q<)9@B M%)9Y)%0.[$FWE8#L:`"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@#P[5O%GP(M=5 MU.WU>U\,MJUOJ%[#JC3^"[BZG.HQ7,B7IFNET&07$IN5E+2B1PYRVYLY/TV' MP'%$Z%&>'GB%0E3@Z2CC(QC[-Q3A:/MURKEM:-E9:61X5;%Y!"K5C6A1]M&< ME.^&;?.FU*\O9.[YKW=W?>[,_P#X3+]G?_GS\*?^$'=?_,[6O]G<6_\`/S%? M^%L?_F@S^N\.?R4/_"67_P`I#_A,OV=_^?/PI_X0=U_\SM']G<6_\_,5_P"% ML?\`YH#Z[PY_)0_\)9?_`"D/^$R_9W_Y\_"G_A!W7_S.T?V=Q;_S\Q7_`(6Q M_P#F@/KO#G\E#_PEE_\`*0_X3+]G?_GS\*?^$'=?_,[1_9W%O_/S%?\`A;'_ M`.:`^N\.?R4/_"67_P`I#_A,OV=_^?/PI_X0=U_\SM']G<6_\_,5_P"%L?\` MYH#Z[PY_)0_\)9?_`"D/^$R_9W_Y\_"G_A!W7_S.T?V=Q;_S\Q7_`(6Q_P#F M@/KO#G\E#_PEE_\`*3H/#=S\%?%M]+IOAW1?"E_>P6CWTL'_``AJ6FRUBF@M MWE\R^T6&,XEN8%VABWSY`P"1R8R'$>`I1K8O$XJC3E)03^MN7O-2DE:%:3VB MW>UM-]CHPTLDQE1TL-0H5)QBY-?5N7W4TF[RIQ6\DK7OJ>HZ;I.E:-`UKH^F M:?I5L\K3O;Z;96UC`\[)'&TS0VL:(TICBB4N1DB-1G"C'B5J]?$24\16J5YQ M7*I5)RG)13;23DVTDVW;:[?<]6E1I4(N%&E"C!N[C",8*]DKVBDKV25^R78T M*R-`H`*`"@`H`*`"@`H`*`"@`H`*`"@#\_=#L/B./!T=\?%?@G_A7O\`PV5X MJV^%Q\/]=7QF&'[;OB&'+>//^%F'36']M!KK`\(+_HI%GGS1]N(4[?@OR['* MQ?'_`.*$*?$:?7/B=X-TB*V$MK>Z5INO>&-<\4_"/4Y?B1H/ABQCUNSUSX3> M%M`^%6G'0KO7&>\\>^)O&[/+:V^HZ=;:K965W;71M\@M:VG]??\`D,LO'OCC MQI\,Y/&&N>/[[PGXFT3PKX^TW5/'_A*\\/QR#0O`O[1$/AIM=DU;5O!=CI;6 M5QX6T>.\O=23PWH5O/&T]TNGZ;;3&S@`V?W:?(]1\%:EXCTSQWJ.NZ#\2+W7 M/"WB']H'2/"M]IW]G>#+W1O&6G:K\`_".J+XON=9TS0HKH:O//8:5=6\FAW> MF:7Y9F'V"9+B,VYM\A?H;OQE3X6R?$W48_V@F\-)X#;X9Z`OPH?Q6UDENGC\ MZ[XW'Q`;P>U]P/B4-(_X5J=,^Q9U7;Y_]E@G[91M\@6BTZ;GE5U\=O'^G?%K MPSX8TOQ;J?\`8\UK-X9UGP1XUC\"VWC301#\`=<^(FE^)-7T'1](U'5KG7W\ M4Z*MK>:_>^(-(T6:7[1INE^'-1"2:U;&WE8+)+TV_(L1?$[XUZ1XY^%GA[6/ MBIX4=]6\/_#'7[FP\276D^%KSXDR>,]4N/\`A,K/PCX%T/X*>(-3\4Q:/IP2 MWLX-&\7Z%/I4BQ7VOS7EC/O!MY6'96>EK?UW/T.H)"@`H`*`"@`H`*`"@`H` M*`"@#\TO'?\`R/'C+_L:_$7_`*=[ROV7*_\`D69=_P!@N'_]-0/S''_[]C?^ MO];_`-.2.4KN.0*`"@`H`*`"@#Z!_9O_`.1XU7_L5+[_`-.^A5\IQA_R+*'_ M`&%0_P#358^BX:_WZK_UXE_Z,;KQ[+X8EBT7QMX"%EKFCZND_[4GB&Z9G\9>+['3K:>Q;Q)X@C\ M'SVE];:Z/[(N3J=Q=:<;>5BGLM&K;?\``['HWCZ?PEI7[0LVOWR?`S7_`!O' MXK^'6D^&O!OC'X=:A?\`QLO[&:PT.(ZE\+O%NH7-J]G8Z1KRWVBZ3XD MTV,V5[%>W^D7%G>O9FWR$M%V7X'WC0(*`"@`H`*`"@`H`*`"@`H`*`"@`H`* M`"@`H`*`"@`H`^:=>_9W_MK7-9UG_A,/LO\`:VJZCJ?V;_A'_.^S_;[R:[\C MSO[;C\WR_-V;]B;MN=JYP/LL+Q=]5PV&PW]G\_U>E3I\WM[Q=KVO M:[MM=GS&(X<]O7K5OKG+[:I.?+[&]N>3E:_M5>U[7LK]D9/_``S'_P!3O_Y; M7_W_`*Z/]=/^I;_Y@_#?X/?\`"OM]^EK:Z>AEF3?V=7G6^L^VYJ;AR^SY+7E M&5[\\MN6UK==]#VNOFSW`H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`^?;+]HWP+ M;:;+=^+/[0\/7I\2_&K1[#2M+T7Q3XUN[W1?@C\3I/AMXC\3%/"_AJXDM+-9 M)]$U.YBEB`LK?5)Y&FFM=+N[R(':WX?E'-'4>"M<\;2RV_BO_A'I="US5H;#2[$2Z+:ZF+R*/5XYY$18 M]DIL*WX'0:O\:/ASH=A!J%YK.HSQW>D>#]=L+/1O"GB_Q%K.I:=X^NM4L_"; MZ5X?\/Z#>ZGJEW?3:)JI-G:6DUS;QV$LUU##"OF$"WRLZOK^M_#?Q_IWAI!X]U?3=`\/6D6LS>'!"NHMK.L:=:RVL M_D2Q.]V2I32-4;33;Y#L7IOC]\/=+TP:QK^I7FFV=UJ&HPZ;:VWA;XA:AX@C MTS2-)T;5M8U;Q-X5/@FWU?PA;Z3!K5G_`&M-?V?V+21<6PO[Z":9H(`+6^18 MNOC?X4TG6]=T36H=626P\86'A'05\->'_%7CW4/$;W7@+PMX[GU5-'\&>'-1 MNM,TJTM?$JP3WDR/9Q"WBEFNHC>1Q*"2_`]D1TD1)(V#1NJNC*\K]ERO_ M`)%F7?\`8+A__34#\QQ_^_8W_K_6_P#3DCE*[CD"@`H`*`"@#U;X(_\`)3_# M'_<:_P#4>U:O"XE_Y$F-_P"X/_I^D>OD?_(TPO\`W$_],U#]`J_*3]""@`H` M*`"@`H`*`"@`H`*`"@!&!*D!BI((#+M+*2,!@&!&1UY!'J#0!X!\/=.\9VOQ M,\56-S\7O'?Q!\*>$]$L-(U2U\6Z9\)+>W'CG6_LFN):VL_@#X:>&[ZWNM(\ M+'3+B:*YN)H9E\:VA5-UJ31M\A_*WWG.^*?%'C?2?BU<7.IWWQHT?X:Z5K'@ M_2DN?#&@?!V;X:2/JEMIYDE\577BG0[CQW>6EYK6J1:;-=>%))8;+R"9Y+#R MY;B@-E_P_P#PQ]14"/FW3_V>_L-^;[_A+O-_T#]J*Q\K^P-F/^&D_B;HGQ&\ MW?\`VTW_`"+O]C_V?MV_\3'[1]HS8>7Y#FP[_I^"L,L/@+KEEJV@P-X_LI?` MWA_Q;-XXM/#J^#GC\0OK^H>#-8\):O"_BMO%4EL-$FEUR_U*"U&A?:()IC$] MY<0!$C-OD&WR,>T_9Y\8QZ/J>GZM\1O!_B22Y\%_#_X?VNF^(/@YI^K^"+OP MQ\/I_MEXM\*:CXQGG\1-J4'BN-[U[36-&/VK2(I;46MM/+8DV^07MY6)V M_9SU?[+!I*?$&TDT1U^"=WJD-[X0N[S5[C6?@O\`$_1_B#I\FF:H?&4<.F^' M[ZPL+W1AID]A?S6HN+.Y2_E2R>TO3;Y!>W]>5@^)/[-]YX_@U73_`/A---@T M77=4\>7^KZ#K_@R7Q/HLW_"9Z;H%C:7\&ECQ;IUJ_B;0VT.8V.I:C#J5O''K M=^J:?'.\=S$;?($[>5BYXF_9]U#6].US3;;Q7X8>W\0:YH^KWMEXL^&EEXOT MN!](\!>"_!-IJ&F0R>)+"^TKQ583^$#JVEZQ::C"ME/J96:SOC:0RT?H"T^1 M]&Z;9G3]/L+`W-S>&QL[6S-Y>2>;>71MH$A-S=2X'FW,NS>[X^9F8]Z-OD+\ M"[0`4`%`!0`4`%`!0`4`%`!0`4`?GQXT\%^,;KQCXLNK7PGXFN+:X\3:[/;W M$&@ZI+!/!+JEU)#-#+':E)8GC965U)#!@02#7ZQEN8Y?3R_`4YX_#PG##T(R MC*O24HR5**::RY80K4Y2=JU-NT8R; M=DFW9:)-[(]3)L'BZ.98:=7"UJ4(^TO*5.<8J]*:5VXI*[:2\W8^XJ_,S[H* M`"@`H`*`"@`H`*`"@`H`*`"@#EX/!V@V>AZUX=LXM3L-/\07.OWFJ36'B#Q! M8ZU)>^)KJZO-6O;7Q+::I'J^F7IGO)?L]Q97UO)8I';Q6+6\=K`D)L&WR.8U M3X-_#K6/%0\9W^B7;:TVIZ5K=[%:^)/%.G>'=1(AL;?R3]`VT/3Z`/)['XW?#.72I]7UOQ7H? M@FU@\4>/_"D2>-]=T#PW/>WGPW^($_PT\0WU@MWJQ2YTH^*%T^&&8.'QKVE) M/'!<7R6]`[6_KYF%8?M(_!Z[UOXG:3=>-O#&A6'PDUO1/#/BWQ3K_B_P3I7A MN'Q'K5K)<#1H9I_$WVZ"YM)HY+&::_L+&VDO[:^L+.>ZN])U*'3S]`L]/P._ MU'XE?#G1Y88-6\?^"=+GGM].NK>'4?%6A6,LUKJ]S8V6DW,,=S?HTEO>WFJ: M;!;R*"LTNHVT<19YXPX+]"#0_BI\,/$U[::;X:^(_@+Q#J-_H M'M6O;SPW;W/@ MK96?AO49?BKX`DTSQ=XEF\'^&]4L_%6CZAI>J^)K:WEN;C1H=2L+N:UCNX5C M6.02RQJDUS:6[,)[RWCF!V?;8V;;XH>`9)_"NG7WB[PMHVN^-899_"GAO4_% MGA7^W/$,4,CQR/H-II^MW2:\B^626TV6[50<,P8,J@K?@:^C^-_!?B+5-2T+ MP_XN\+Z[K>C06USJ^CZ/K^E:GJFE6UXTB6=QJ6GV5W)/8P3O#,L;S1HKF)PI M)4X/T#;R/-M>^-,SJWP=LO!L/A/1;W1K#7O% MUU-/#:Z+XAUAGDB72M"U4ZE]EU;4C)#,@M;6667=$ MXV94X!6?;89IGQ6\`ZCK^L>%&\2Z+I?B?1KW6;67P[JVLZ+9:Y=VN@6]KGZ0=1:[GT*"*[C+WAA18]C^8$`!)^@6L6/^%J?"_\`LC7?$'_"R/`7]@^% M;Q-/\3:W_P`)AX>_LCPY?NL+QV.NZE_:/V?1[QDN+=A#=R0N1/&0N'7(%BM- M\6/`-G<:N;_Q)H^FZ%HOA#PQXXN_&>H:QHMGX+/A_P`6ZGXBTK2+F'Q%-J*V MY#7/AJ[9I'V0%+NT,4TC2LL0%@O_`(P?"32H/#]UJ?Q2^'.FVWBW3Y=6\*7% M_P"-_#-G!XFTJ"-9IM3\/RW&IHFLZ?'"RNUQ9F:-58,6`.:`L^VQUMCXB\/Z MDVF)INNZ-?MK6ERZYHRV.IV5TVK:+`]E'-K&F+;SL;_2XWU'3U:Z@WQ*;^W! M<&=-P&WE8V:`"@`H`*`/D/Q+\?O&.C>(]?T>UTWPR]MI6MZKIMN\]GJC3O!8 MW\]K"TS1ZRB-*8XE+%40$DX4#@??X+A7+\1@\)B)UL1&=>C2J249TE%2G",F MDG1;23>EVW;JSX_%<08VAB<11A2HN%&K4A%N,[VA)Q5[5$KV6MDEY(Q/^&D/ M''_0*\*?^`.K_P#R]KI_U/RS_G_BO_`Z7_RDP_UEQW_/JA_X#4_^6A_PTAXX M_P"@5X4_\`=7_P#E[1_J?EG_`#_Q7_@=+_Y2'^LN._Y]4/\`P&I_\M#_`(:0 M\RULDK[)'V&%JRK8;#UI)1E5I4 MYM+1)R@I.R;;23>EV].IMUS&X4`%`!0`4`%`!0`4`%`!0`4`%`!0!YGX#^(M M[X[FN98OAUXX\->'UBN9M)\6^(;OX>/HGB)+>^-DATFS\->/M7UNW\]%>YC_ M`+4TC3?W,9$GES%86-OD%K$L_P`1D?QN_@C0_!_BSQ2^F2V%OXL\2:*WA.#P MSX(N=3M(M1LK/Q!/K_BK3-0N[]]*N;.^:TT/3M8GBMM0LY9HXQ=P^:?H%OD> MCT`?(EA^S]XI@U-;R\O/"L\*:=^V;:1H;C4972?]HOXMZ%XY\&R*LNBA56T\ M/Z??VFJL&S#/<"*U%]!(\RFP[_+;\%873_@O\1_"NH:AXIT&+X?>(M=@^*-I MXUT;0?$>M:[H^C7.E2?L^^`?@]?F?7[/PCJMQH/B&VU;PSJMW;R0:1J<WEU"1K$V^0::=++];E*+]FG5K?PQ>:2'\&3ZO>ZG^SA+/J`MKJTMSHGP MB^*.B>/_`!-H,2?V;<2PZ1]FM=5M](L2\L3-+`ERULKO*AM\@3M^/Y6-_7?@ M9XGN].UF'1KCP7::CJGBOXY^(6EU.P.J:==#XF>&/$.A>'_[:TJZT62WULPS M:CI8U"TO(Y[=K>T>,?:T18I#;Y!M\CGO"GP-^)/AV2#7F3PK-K=";?(/PL&G_``'^(NE65CX=@'P[OM'UW0OAMI/B_P`07FH:Y'XC\,2_#KQ) MJ.NQ/X2L$\,RP>)X;D7B/:"]U#P\=+OC<7H%]YP@0V^0;?(]%\#_``DU[PMX MR\`>()KG0ET_PQX`^,?AG6+>PFO!<7FL?$+XC_#[QAHMY;1-IL45Q;0:?X8U MI+J:>2*5+B]A6*.=)I98C;Y!T^[\!_Q@^$FN_$74+NYTS4K'3X)?A=XM\'Q> M;J6MZ7=MK>K>*_`/B32]U[H*Q7EAI$D?A&\M;J\LKR&]@%Y&]JC.-\1^@EI\ MCRS1O@5\0_#._BE\7/B9I"Z7XZT[X=:8=< MF\?>/]`U;6?&.I1VWPZM+>YT.32?#EA=6.I+9)(K]M"ELY_"5O/IWQA\5_$"^E@COM-BGT76_@=X\^&-C:6EO%87+0WD6 MM>)M+E-I)/)%#8VLNRZFEACAF-OD"=ON_4Q;KX#>.M.\4Z#XQ\/3>$+J?P;X M9^!EMHWA6^UK6-#T'7M=^&NB_'3PYXBM=;O;'PKJ+:7I#V?Q8T?4-,O8-.U" M87_AF!I[.%;:)I3;Y!>W]>G^17TWX`>/M`V:W87?@_5M=L]2\.^+K/P_JFK: MS8^&IO$%O\5?C)\1=7\+G4X?#5Y<:;X8TVV^*5I::)J*:9=SQ3^'+2>738UA M6-S;Y!^%CP/Q)X#^(_@CXB6(O?".LZ];^)FT+Q+XJ\/?#/3O&%MX7U;5E^-O MQ"^+-KX7M/&,/P.\76L]IH.J^*H98[G4M;^#C7=W<7]W>W4MGJPA\.FP]+>F MWW6[_P"9]=_!#PW?6^O?$CQ/-#K=KX;G\17GA_X:V/B/1];T#5K/PHFIZCXJ MU^Y?1_$=I;7^GVUQX^\4>(]/LA)!%%-HWA3P_+;K]F,+.;?(6UO(^BJ!!0`4 M`%`'YI>._P#D>/&7_8U^(O\`T[WE?LN5_P#(LR[_`+!*/_IN)U=<)UA0`4`%`!0`4`%`!0`4`%`!0`4`(!?@KX;O]*\&ZQHHN/`^N>+M(E^+ M^OSOI\NB7GQ!?4O"M]=>%-,T]K"=8/M%]\1+^U7691;WGE6\D.IFWR'VWT_K M^MAGBG]G_5;[XGZQXPT;0?A[/)XE\<^%/&P^)&N:GKD?Q'^&W]@:'X0T#6-% M\!:3;>'[BUN+?6].\()%/,OB#04(UJX74+75K>VCMI38+V7IT/K>@04`%`!0 M`4`%`!0`4`%`!0`4`%`!0`4`%`!0`4`%`!0!X=JWBSX$6NJZG;ZO:^&6U:WU M"]AU1I_!=Q=3G48KF1+TS72Z#(+B4W*REI1(X7L MG=\U[N[OO=F?_P`)E^SO_P`^?A3_`,(.Z_\`F=K7^SN+?^?F*_\`"V/_`,T& M?UWAS^2A_P"$LO\`Y2'_``F7[.__`#Y^%/\`P@[K_P"9VC^SN+?^?F*_\+8_ M_-`?7>'/Y*'_`(2R_P#E(?\`"9?L[_\`/GX4_P#"#NO_`)G:/[.XM_Y^8K_P MMC_\T!]=X<_DH?\`A++_`.4G5^&(O@_XQ^W?\(WH'A34?[-^S?;?^*0@L_)^ MU_:/L_\`Q_Z1!YF_[+/_`*O=CR_FQN&>'&RX@R[V7US%8JA[;FY/]JE._)R\ MWP596MS1WM>^E[,Z\*LFQOM/JN'H5/9_*]KVMKT/48(( M+2"&UM88K:VMHHX+>W@C2&"W@A01PPPPQ@)%$D:JJHH`4*```*\24I3E*K;>K;U;/5C&,(QA"*C"*2C%))))6226B26B2T2):D84`% M`!0`4`%`!0`4`%`!0`4`%`!0`4`%`!0!\DZ5XIUW_A6L(N/$.L'Q"W[6WB/P ML/.U6^.L-H4?[6>NM:^'@7G^T'1U^&$4/EV/^H&A1H%3[`H`!_Y+\CQ,_%+X MP2^#M>B\8>+]*U;6)_`/[=-YIGB'PEI'B3P!?:-)\&?BMX8\`>'DAL;#QU?: M;>LD=[?36MY,/B1)\1+:Q\/>(/# M^D^&T\9?%"V\1Z1J^@^(?$M[K=GX6T#PK>V::9J]QXZMO^$4E\N[N$1+"U^Q MQRR&=>$_P!H+XDB/PI;V/A;1X/`^A>"_A?9^*/$GB[7]&LM M-AUKQE\-?#WBNUU.\\?^.OC4?%#64$VL069$W@_Q9=ZE+:7C/K+WB7`B-OD% MO^!_5CZ-^"_C/QAXITC5K'X@C2HO&>@WEHFJ6^BZ!%H&EBRU2R2^TB[TY;3X MB>-K;4M-N[3-S;WR:Y'-)%*@NM-TZ=&A)MY6!Z;;?UZ'L]`@H`*`"@`H`*`" M@`H`*`"@`H`*`"@#\TO'?_(\>,O^QK\1?^G>\K]ERO\`Y%F7?]@N'_\`34#\ MQQ_^_8W_`*_UO_3DCE*[CD"@`H`^K/V8_P#F=_\`N6O_`'/U\-QI_P`RW_N8 M_P#O MRC/`)/'H!R3["@#X`_9\UOX?>#_%&HW$%_\`L^7,T_@CQ#XF^)/B[P;X&G^' M_CWX>+IVHV&I7Z?'#Q)XAO1>9U.XN[JZ\CQ'IGA"^MY-"N6DL;M;:XN+(V^0 MW?3?3;_@&EXV_P"$)_X6)XT_MK[)_P`+_P#^%M?#W_A4'G^3_P`)Q_PA7V/X M<^9_P@?E_P"G?\*W_P"1Q_X2/[+_`*%N_M_^T_DV4`OP/NZ@1QZ_#SP`GBW_ M`(3Y?`W@]?'7D-:_\)JOAG15\6_96A-NUM_PD8LO[0\@P$QF/[1M*$KC:<4! MY=.Q$OPU^',=YK&HIX`\%)J'B%-;CU^^7PKH2WFN1^)ETM/$B:QKJFCZXO@ M/P8NM^'=(7P_X?U@>%]#&J:%H*0&U31-'U`6/GZ9I"VS-"+.VDBA$9*!-IQ1 MMY6#;R-#PSX/\)>"K"72_!OA;P[X2TR>\GU"?3O#.B:9H-A-?W1#7-]+9Z5: MP127DS`&29D+N0"S'%&WE8/T.CH`*`"@`H`*`"@`H`*`"@`H`*`"@`H`^:=> M_9W_`+:US6=9_P"$P^R_VMJNHZG]F_X1_P`[[/\`;[R:[\CSO[;C\WR_-V;] MB;MN=JYP/LL+Q=]5PV&PW]G\_P!7I4Z?-[>W-[."C>WL7:]KVN[;79\QB.'/ M;UZU;ZYR^VJ3GR^QO;GDY6O[57M>U[*_9&3_`,,Q_P#4[_\`EM?_`'_KH_UT M_P"I;_Y3G_`+\KWYO*UNMSU:O"/6"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@ M`H`*`"@#Y-?QWXN\,^&9/CQXH^)5FO@>V?QYJ?B'X(-4^(\`\/V)NH=0U>ZLKQ1JRV]C9.D'DFWR'Y%F\_:!\::9X MCT'X>W_PQT"'XD^(M9\/6EAHL/Q(O)_#%OHOB_P/\9/%GAO6=1\5'X>)<0W` MU#X,:_IFHV%OHMT;5;A;NTGU$+%!=GZ!;[E_P/\`,T+'X_ZU-J'@K^T?A\FA M>&O%GAVWOO\`A(]1U[79;5?%$L]U8R>$]*O-+\!7>ARW"7\$$43Z_K_AF[OA M=J=,TZ^DCDB0"UOD7-2^/5Y:V.ERZ;X*CU#4=9\,_`W7-/L9O$PL(#??&SQ7 MK'A2STVYOCH,YAMM)N-+CGDO%@D:XCN7"VT30CSC87Z'*6W[36NVFDZEK_B? MX9P:9H^F6_Q;TQF\/^,+SQ5JU_XX^#?B>\\)^(=$TS1HO!-E-=^';_4[&=-, MU;H?V]? M>.O!^AZ?H?ART\,:K?\`B?29?B-\)O#/B'7[(Z=XAFM(X_\`A%['?J^G&R$O MV*1]6M@+6Z[?UT.Y\:6/C3Q'X_L_#_AKXF^)?A[:V'@NXUT1:#HG@'6+/5=6 M?6DLK;^WHO%_A#5KN738HX\-;Z3?Z--(DTH%RDACEA/T$M.AY'IOQ^\=2Z#= M>(-,\%W/C?5X/`_PDU34M'TG4+X>$;"3Q+/\2$U[Q7I=MX2^''B;QG-ITTGA MBVC6&SL_%@:+\;/$/B6ZUG4_#?@/2M=^'WA MZVM[;5_%^G>/;4WJZ]/X#TWQZQTWP_<^'H8]2\'Q6FM:38-JRZI'J!N[MC'H M;VT,EPI^@MCB+#]IOQ==Z[X-T.7X*Z\LWB'3?!VK:Y'I#^/_`!9+X6L_'UW- M#X?%UJWA+X2:EX7CN+*RCCU'6AJWB;0XK&TD9[&;5I(FCHV';SM8RM'_`&A_ M'EG::-K'C[POHEAJ>IZ=XQL=$\.>#/&$FI^&->UE_C-\-_A%X-&LW>N_#BTU M?1=1;Q+XJ^Q_:K2]FL8K*>[O[JRN9KFVM_#YM\@M;;H;U]^TAXLM-;O_``7! M\,M"N_'7AK2OB1J7C+31\1KV#PWI3_#G2_@UXGF@T7Q')\/#=:]'JGA+XR:3 M=6TLNC::T=[8BQN8XHIY;ZQ/T"UOT_'_`"-&;]I>*#XHZ#X`/@_?I/B+=I]A MK]OKT]_J%GXA'PUU#XI0V>OZ7I?ARZT?PWI]QH.F7=O;IJ/B>WURYN(7N+?P M_+I,0>'+[X@^"-$\6_#S0SXNDU2 M76K_`%W6?#6@V7AK6M0@\*Q6V@ZBU]XU\)R*83J;-;ZA=RF%3IEP@-OD%K?( M^G1G`S@''(!R`>^#@9'X"@0M`!0`4`?FEX[_`.1X\9?]C7XB_P#3O>5^RY7_ M`,BS+O\`L%P__IJ!^8X__?L;_P!?ZW_IR1RE=QR!0!]`_LW_`/(\:K_V*E]_ MZ=]"KY3C#_D64/\`L*A_Z:K'T7#7^_5?^O$O_3E(^UZ_-S[<*`"@`H`*`"@` MH`*`"@`H`*`"@`H`*`$.<'&`<<9&0#VR`1D?B*`/FCX>:[\2[#XO:IX*\=ZQ MXNO["[\):SKFF7'B?P]\.-&\/:]J&B^(-#TV\O\`X6KX!N]1U+2_"UK:ZQ;F MXTWQUJESK;'6--D@WQV]ZZFWR'M\OZ_JQQ'Q!^)?Q(\'_$76Y[S4OB!9:7I_ MCWX;Z)X/\(Z9\,;'4OAAXL\#>*Y?!>AZSK&O_$VXT-FT[Q8GB77?$EK;V,?B MG1[J%]*TX1Z!J\5PDFIFWE8+:>A]GT"/*?\`A2/PQ;Q!<^))?#37-[:YXCO?"EMJGB6SU'3_$6M:;X'N]7D\.:3K^J6.KZO!>ZI9:5;WEU'J]\L M\[B\G\TV"]O*P:'\$_AOX=N-&O-/T749K_P_X@A\3Z1J6M>+/&/B75+/5K7P MUXC\'V(_M3Q'K]]=3Z39>&_%WB.RM-)FFDT^T7597MK6*54D0V^0[V\OZ_X` MR+X'?#M)UF+P]=)&=W]D^';U7:7P7(LVH^+/&.M MW$,?PZUN\\1>!K&WN=;\07FPNEG%#(+40?942!3;Y!^%C9D M^$7PYFTVYT>?PS;W.EW=W\0KZZL;N]U2ZMKBY^*FJZAK?CUYH[B^<2)JFJ:I M?3>4-$1`/T_38/"WPD\">#;FQOM$TW4VU/3WU5X-9UWQ7XN\6: M[,VLVVEV5]_:.N>*]=U&_P!7'V+1=*MH%OKFX%K!91PVHAC!4FWR#\+#O&7P MI\%^/=1L=4\20^(WNK"RFTP)HGCOQWX3L-1TNXN([J?2_$&E>$_$FFV/B?2Y M)8AOL]8M[Z!DDEC,9CFD5S]`6GD5-<^"_P`.-?#&ZT&ZTZ9;;PQ9VE[X7\1^ M*/!>I:1;>#(M;MO#<7A_5/"&M:9=^&UM+/Q'KEH3I:T:TTVQTR+3;?Q)XKB\-NNF:'_P`(SIVJ77A--<&B MWWB>UT#;81>(+FPEU6."*)%O0(H]AM\@-&^^#'PXU#6=!UVYT.[%_P"'-.T/ M2;*.U\2^*K#2[[3O#%P]WX;M/$^A6.MPZ9XSBTF\DDN++_A(+34S:S2O-`8Y M'9B;>5AWL58_@9\,8_[7!T&_G36H_$<-S#>>+/&-_;V4'BS6-%\0ZW;^'[>] MU^6+PK;OKWA_2=2@BT5+!+*[MWN+);>:XG>8V%MY6+.F?!?X<:2;>2UT.\FN MX-%\9>'VU+5/$WBO6]9O]-^(#^&G\7#6=;UK7+J_UZ_OQX.\,Q_VAJ-S=7D$ M6CPPVT\,1='-OD.]O(JI\"OAA'XDL?%:Z#J']L:7=_VCIJOXM\9/H^GZDWA> M[\%SZG8^&I/$!T>TU.Y\+WMQ87-Y%8K/=)Y37$DLL$3QFWE86WR$O/A-I]SK M7PH$$^G6G@CX/1K=^%O"PTN_N=637K+PYJ'@_0[J?Q7=Z_(9=$L/#VJWH_LZ M;39IY[Z*QOI+_=9+%(;?(>QZ[0(*`"@`H`_/CQIX+\8W7C'Q9=6OA/Q-<6UQ MXFUV>WN(-!U26">"75+J2&:&6.U*2Q/&RLKJ2&#`@D&OUC+DI1DJ44TTY)IIJS3U3T/SO&X'&RQN+E#"5I0E6JN+5*;33G)II MJ-FFM4UI8YG_`(0/QQ_T)GBO_P`)W5__`)#KM_M3+/\`H8X7_P`**7_R9R_4 M,=_T!5__``34_P#D0_X0/QQ_T)GBO_PG=7_^0Z/[4RS_`*&.%_\`"BE_\F'U M#'?]`5?_`,$U/_D3W'X`^&O$>C>,=2NM7\/ZWI5L_AF\@2XU+2K^Q@>=M4T: M184ENH$1I3'%*P0')$;'&%./F>*L9@\1E]&GA\51KSCB(2<:=6$Y**I5DVU& M3:2;2OM=I=3WN'L+B:&-JRK8>K1@Z,DG.G*"OSTVE>22O9-V[)]CZ\KX`^P" M@`H`*`"@`H`*`"@`H`*`"@`H`*`"@".6**>*2">*.:":-XIH9462*6*12DD4 MD;@J\;(2I5@002",&@#RS1/@G\//#G]KG1[+Q):R:OHVH^'EN9/B#\0[R\\/ M:%JLD6WLI%M_"LFC)&^FV#1!&L+4P&WR'?\#>U/X< M^%-9\5Z;XRU:#6=1U?1S;2Z79WGBSQ;<>%+"]LA.+/5[?P')KA\-1Z_!]HF\ MK5AI/VZ/?\MP-HP?H+8[F@#YZD_:7^'T/@+XL_$%K'Q6-,^#OC7Q5X!\0Z3_ M`&3:IKVL>(?"VO#PUY7A*TDU-;?6[75M99+339OM4'GS%[>46]S!/#"?H.UK M(]%E^*OPWLYY+'4_'7A'1M7M?"3^.]0T'5_$NAV&O:5X/@M#?7?B34])EU#[ M19Z':VRR/-?NGV:,1.6EPI-`K&7X7^.7P<\96G@VZ\-?$_P/J7_"PK-[WP58 MCQ)I=IK7B.*!"]Y#IN@7UQ!J6+6BW5E-!-!=PPS0R1H#LUTV-*U M^*G@"_U0:9I7BWPMJXATS7]5U2^TSQ=X1NK;0[7PW;>&K[46U:W77A?Q(FG^ M+=#NWGALI[>V@O[62]FM5U"P^W`K6\B&W^+?P[OK?0]3TCQ9X?USPUKUCXGU M&U\9:)KNAZGX.M[/P@L)UV>]\0VVI-:PQVS2NCNCR+&]M.LS1>6<@6MY6.N\ M/>)/#OBW2+37_"FOZ+XFT&_5VL-;\/:I8ZUI%XLOZ/:Z M;X9>VTK6]5TVW>>SU1IW@L;^>UA:9H]91&E,<2EBJ("2<*!P/O\`!<*Y?B,' MA,1.MB(SKT:522C.DHJ4X1DTDZ+:2;TNV[=6?'XKB#&T,3B*,*5%PHU:D(MQ MG>T).*O:HE>RULDO)&)_PTAXX_Z!7A3_`,`=7_\`E[73_J?EG_/_`!7_`('2 M_P#E)A_K+CO^?5#_`,!J?_+0_P"&D/''_0*\*?\`@#J__P`O:/\`4_+/^?\` MBO\`P.E_\I#_`%EQW_/JA_X#4_\`EI]KU^;GVX4`%`!0`4`%`!0`4`%`!0`4 M`%`!0`4`%`"$[0>ORC/`)/'H!R3["@#RSPA\5;;Q5XDD\,S>"_'?A&[ET.X\ M3:'/XPTS1],3Q#H%K?V6FW&HVNFV>O7FK:"Z7>HV2_8?$NFZ%?L)F*VK>1/Y M)^%@V^13\0_&*Q\,^)H=#O\`P1X^.@GQ-X8\&WOQ$&FZ%:^"-.\2^,+G2=/\ M.Z=OU3Q'::YK4%SJ^O:+IC:CH>AZKI]O?7[6MS=PRV5ZMF#M^'0]@H$?%LG[ M-?C!QK<*:]H$.G^([_X]ZSKNEBYU)[74M7\6?$/XM^*O@[+)YNDLL$6FV'Q= MU&?69(8TG6_\-Z+';27UK:DL?H._X6_K\"6/X`?$*3XO^#?&=U>^%8?#?A3Q M:OB0O8>)-?L[J\MKCX):S\+;NTF\#Z?X3L](U+78M2O;*X7Q'K.K:OJ,EC$U ME:/I5HCV=Z;?($[*QRGA']F7XAZ2_P`,;;Q!!X2U.V\(^#O@[X-U*XL_C'\: M]*TZQ_X4G>,=%\0P>`O#=EH>A^/9M5BAM=0CTS7VLTT34))@+W7+;Y)#;Y#O MOT^2_I'6W7[.WBRT\.^!M-T'_A`XKOPK\'OC%X)U*TN_.32M5\5_$?Q5\+/$ MEO>+Y_A._A^Q7!\%:]]LU.ZTVZGM[G4+2Y33[\B5$-OD*]OO7X7&^&O@'X_T M_2O$0UA/`VH7VM:Y\0-<71O$'BKQQX_TF3_A,/!_@'28=-U?7]9TC3=5OT36 M/#6L;[F"*S2WAFLI["SMT1-,LC;Y!M\CWKX1>%_%GA/PO(_B#_`,(_H[6MC:66BR>/O&&F:?KOC&2-[2>X.H:M:1W"B^%J"\5G M$[FWR%^AZG0`4`%`!0`4`%`!0`4`%`!0`4`%`'YI>._^1X\9?]C7XB_].]Y7 M[+E?_(LR[_L%P_\`Z:@?F./_`-^QO_7^M_Z..8QN(9)8FFB24J1&\D*2Q-+& MKX)198RP!`=2<@`^9_!_PT\=:!XZ\3_$C_A!_@WX7\1WGA7Q%I=[;^!->\0: M;9_&+Q-?:KIFJZ'XH^(L[^`86\+W-B^FZC%'((/'%[;IXOU()?3)`8]1-O*P M]K+M^']?(WM0T7XQW?Q/.K7WACX<^(?`>G:OIG_"*->?%'Q7H6H>'-+-K9Q: MSK]QX&MOA%J.G>(/&B7+ZHUI)=>(XX8X$M8+5]-DGOKJ[-OD&B7;Y?\`!/?J M!!0`4`%`!0`4`%`!0`4`%`!0`4`%`!0`4`%`!0`4`%`'AVK>+/@1:ZKJ=OJ] MKX9;5K?4+V'5&G\%W%U.=1BN9$O3-=+H,@N)3R=WS7N[N^]V9__"9?L[_\^?A3_P`(.Z_^9VM?[.XM_P"?F*_\+8__ M`#09_7>'/Y*'_A++_P"4ENP\2_`'4[ZRTVQT[PI/>ZA=V]C9P?\`"#S1^==7 M4FDE=TDE=NUVTNY[M7RY[P4`%` M!0`4`%`!0`4`%`!0`4`%`!0`4`%`!0`4`%`!0!^?#ZUX`\-0WWB#PYI=UKO[ M6VCW?Q7U&]\/Z-]F/Q`U[4[#1?'M]9:1\1Q<`WJ?!JX:TTQ-(DG*:8)?^$;7 M1F,KVZ2&WR'^"7]?>6=/^*'CK7?%?@CP7X-^-E]XP\'^*?'7AC0KOXMZ9H_P MRO-2BU+6OA%^T/XF\7^`M/CL?!_]A6U]X=U+P#\/]5A^TZ7H ML\%P;?(=K=-NGW%S3?C%XWC\3?#2WO\`XD0ZM>:[X:TO3+GX>V%MX:T;Q-K& MM7=]JNFMXV@\.7W@"ZNO&^D*EJ+O4;CPSXF\/VV@BQ9KG3;Y)Q$A^@K67H26 M7QV\0^,['3;;P=\0[::>7P]^RSINMZSI&D^'M2&C^+?B/\1O$?A;XBQYN-)E MLE\01V5G;6\^FRK(NF7-HJ/:6\K2QRFWR"UO*QFP_$KXSZ)X7UOQ'%XYO_&> MH6;_`+3G@[3=$U7PWX6M+(S?!;Q[KGACPSXSO7\)^#AJ-QXEDL-'DN-3BLH' MTV=2%LM"@ECS<&WR"R5NFQI_"GQ[\5/&VK>!-#?XQ^'-,[V^\5^!+ MSPQ\1/\`A)/#WAK2O`FJP>'9?&P^#?@KP[-?C6=5U6QN[CP_X:'V;3[I[&29 M-;@^WV1M\@>G2WEM^K+/[25SX"T?X@6/B'Q+?^`M;UW3_!.G+H7P\^(9UWPS MKM_/;Z_K-S!J/[/?Q`M,#3OBQ?/)-IUQIVAP7FIW+6WA<37&E0>3)J!M\@6W MI_6IP'C#XG^*/!]Y\3=%M?VA-;TSQ3?_`!6NK?2_#_BW4_A#IEQX0TRZ\#KX MA\*:)87>M>`=5FT*UUN_EEMK6Q?P[XKO=5B\,S1Z+;QWHU._NC;Y#733;U_K M\CJ5^.?B34[_`,&7S_%>UT#Q+K'AGX$:_P"&_A'9Z5X1N;?XES_$*WTJ;QI: M6\%_H]SXEOK6RM+F6>.XT+5+)=(67[;JC7-BJQ*;"M;IM^!S1^*/Q$\->+?` M/A71?%_A+PAX=%NNJ66C^(]?ATZ^^)5]JWQ;\;:;XITC0O#D?P<\6:QX\OM- MTBQT@)IGAKQ!X5O+276XKF\DN+6YC-H;?(:6GI_7<]X_9S^(^L>+]2\=:'K/ MQ!M?B=<:/)IFJ+XAT5]!71-%&J7.K6C^$KO1--\$>'=4\`>)K*XTJ=KCPIXC MF\2ZG9V\EG+<:S/)._^1X\9?\` M8U^(O_3O>5^RY7_R+,N_[!`_W[!?\`7^C_`.G(GZ6U^-'Z M<%`!0`4`%`!0`4`%`!0`4`%`!0`4`%`!0!'-(L,,LKB0I%&\CB&*::8JBEF$ M4-NC2RR8!VI&K.QP%!8@4`?"?P@O_ACX9^+WBO7O"7BSX6WG@B#X<^*M1\4: MWX4MK_P[JO@9]#\2>'YV3]HW7_$?BC6;KQ#XZEL);]H=8\27&@:A:)X=\0K+ MIS)/ M)DE:*#RHKB9W-[."C>WL7:]KVN[;79\QB.'/;UZU;ZYR^VJ3GR M^QO;GDY6O[57M>U[*_9&3_PS'_U._P#Y;7_W_KH_UT_ZEO\`YQ5[7 MO:ZOM=&N'X<^KUZ%;ZYS>PJ0GR^QM?DDI6O[5VO:U[.W9GTM7QI].%`!0`4` M%`!0`4`%`!0`4`%`!0`4`%`!0`4`%`!0`4`?%7B+Q9X\^%/BCQ;J5]\3/BA\ M3;70=3\':3X;^']_X<\"'3->U+QMI>NR/#K<_P`)OV>]2\9?V?IJV37T+Z%9 M75R#IZ"YBNH&G!-OD-=K6\_^'=BW/^TEXBL8[_Q!<^"/$D,M[X1^'L6A?#C5 M/#GCNQU*#Q?K7COXO>'-6OIK73_AA?>.3H=YIO@BSOK5V\&RW3V$-K=?V3:- M=W`0"WX'9>'/CMXQ\4W&FKH_P@U."#3]#TO7?B);^)-:U/P5XD\.6FK^*?%7 MA>RE\+^%?&'@S3;WQ+`5\&ZUK>=<_P"$.F?29=/F@MYKV\_L^(_0+6^6Q@O^ MTKXCLO#>EZ]JOPQT^UF\8VWPUUSX=Z79^/FOIM:\+?$;XE^"/AU;W7B>YD\& MVT/A3Q%I_P#PG^@:C+IELVN6L@E>WCU3,$M0TS0 M9HX->NOLU]'=,\U>T^(]QJMQ:?\)UIVG7_@RZTC2CX"M?[6O,ZC#%K%MF0Z>65M/O-;4OY M)L%DOD7[SX\/:>&-$\0Q>$'NI-9\&Z%XMCTV+78HY$?6_&'AWPFFE1W,^F)' M*\;:^+@7$GD(YM1$RQB4S1`K6^1@7?QZUK28S+XD\)_8->\/'XF66N^&?"GB MNTU_0]0U?PA9>$[O1[.PU[7_``5HMY>QZA#XKTO9B?$>3Q+!>>#_">GZ)J>I:[ MX'32/`LNOZ_<+#K3PRC7?#7A/2M/FT349=6UK3].;3]1U4V^0)>>VQG3?M!^ M-=,\9^);+Q?X?T/2_!OAWX\:C\/=)U3PCXEN;W6;[P[IG[-FL?'1YO%6BZ]X M&>.X:6QMK&0C1M3TN:.[U%;(2RVVA27GBP_0+:?+];'7VOQU\:Q.-(UWX7Z3 MIGBS4H_A_J'AG2['XB'5=&O]&^(M[KNEZ7)K.O/X+LYM%UG3=1T&==3LK?3- M3MTAN[>73K_4W\V&$_0+6.RTOQQXO^('P>UKQ+X.TFTT;Q\K^.O#-OI)OX-: ML;#QAX'\5Z_X&UJ/3-3U.TTN#5;5=;\/:B]A$YY+*X\&WN@+/!)X=T[7M3N]6^V MW=D\::3;):QW4U[/'I9^@6MY6*LWQXU>75+Y-%\(W-_=7BV>E^"]%OO$ECI. MC>(+G4/B?XD\`Z9K^IW_`/PB5Q?:!IMS;>'IM8:>*35L:;-`(=-FO6V2FWR" MWRL5=2_:(\7Z-XQ\-^!M1^#/B`Z[+9Z+>^.;?0V\;>,[?P[;^(/%6N^&-)N_ M#^M>!_AAK&B:GIT\7AV_UH3>+=6\`R)IL]JTL$=ZM[8Z:;?(+>=K;?U_PYZ3 M\-OB7KGC'7/%WA_Q/X0@\$:IX>O'.GZ3-JGB&\U?4-"-W/;VFM7<>L^!M"T^ M2&=4A/G>&=3\6:;'*\UJ^IBXMS&Y^%@M:Q[%0(_/CQIXT\8VGC'Q9:VOBSQ- M;6UMXFUV"WMX-=U2&"W@AU2ZCAAAACN@D421JJJB@!0H```K]8RW+4Y8>A*4I4*3DY.E%MMN-VV]6WJV?G>-QN-AC<7"&+K1A&M548JK-))3D MDDE*R26B2T2.9_X3OQQ_T.7BO_PHM7_^3*[?[+RS_H787_PGI?\`R!R_7\=_ MT&U__!U3_P"2.F\%^-/&-UXQ\)VMUXL\37%M<>)M!@N+>?7=4E@G@EU2UCEA MFADNBDL3QLRLC`A@Q!!!KBS'+"O'>L>+K^PN_"6LZYIEQXG\/?#C1O#VO:AHOB#0]-O+_X6KX!N]1U+2_"U MK:ZQ;FXTWQUJESK;'6--D@WQV]ZZFWR'M\OZ_JQ0\1>+?'RZQX\\9:=XV.F: M%\-_B;X0\"Q_#Q-*\-W6C>(](U2U^'\NN7/B#4;O1WUZT\5W#>-;MM*&F:O8 MVD:VVE-(_AIX,\51:W%K6EW,C^()M"N=1O+#7-?T35 M$O/#$C2Z!?Z5J^AZI:7N@:C8R.S17>EW%G."QS(:-O(-O*QSY^!GPP.CRZ&- M`OH[6:PT33WO(/%?C"W\0#_A'=?UOQ3I6J1^*H-?36H?$L?B/Q)KFHR:['?K MJES<:E-)WE_7X":7\`/A1 MH]K%=3BM;[Q9XRU6#27\#^*[+QOX4TWPW%JOB"X7PKX;TWQ M1IUE?1:#HPL=+)MUA>S>`F(FWR"]O*QLZY\'_AUXETG5-"UKP[]LTK6)/&\N MI6O]KZ[;?:)/B/I6IZ)XS;S[34XIH?[1TS6=2AQ%(@M_M.^T$$D<;H"V^1LS M_#_PC[$O0B?9(-/LU\E%6&7 MR(;7Q58Z5I, M>IZ_<+H6A6FO6<-U;:5IPM;*VS+%!;QPW$T],&R\T[0M*AVK&HB^R;X!%))(T M@&WR.*OOV9_@YJ>E2Z-J>@^(M1L[NWUJSU:2_P#B3\3KO5/$=EX@M+&QU.P\ M7ZW<>,7U'QC8&TTS2XH+;6[O4(K1=,LQ:)!]DA\L_0=[>5CJ9?@S\.)_$S^+ MIM!N)=9DUVT\3RK)XA\3/HLGB*S\#:G\-8]C7%RVGF M2ZMX[/[2TSZ=9O;'Z!>VG8K^&?@?\,_".XZ+H5^)FO\`P[J"7>K^*O%_B2_M M_P#A$#>-X5TRSU#Q'KU]K^!1H4#^%-=O_%.J:KI%Q9%M!!'!"D1M\A?H MWE;R_0Z:U^%O@&RT#Q'X7M/#EM!X?\6Z/%H'B'2DN=0%MJ&D0:!%X7CL\&[+ M6J_V'#';,]LT,CD&9W:=FD)M\A;?(S;OX+_#2]T:WT"7PV8=,L?#/AKPAIT= MCK/B#3+O2M#\&W_]J>%DTC4].U6"]TC4]+U(+=6VK6=Q!J$U**XT*!;99(_&7C>/\`X2"%-8G\0*OCU$\1A?B4 MPUZ[O=1W^+1K3?:K^[N,^;=S/*;?(=[?U_5CJ/"'PQ\%>!+W4;_PQIEY8SZC M$ELR76O^(]9L]-L$GDN4TGP[I^MZM>6OA30Q,O^QK\1?^G>\K]ERO_D69=_V"X?\`]-0/S''_`._8W_K_ M`%O_`$Y(Y2NXY#J_`?\`R/'@S_L:_#O_`*=[.N'-/^19F/\`V"XC_P!-3.O` M?[]@O^O]'_TY$_2VOQH_3@H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`(Y8HIX MI()XHYH)HWBFAE19(I8I%*2121N"KQLA*E6!!!((P:`/+-$^"?P\\.?VN='L MO$EK)J^C:CX>6YD^(/Q#O+SP]H6JR1RWVC^!+V^\4S7'PWTYY;>RD6W\*R:, MD;Z;8-$$:PM3`;?(=_P-#5/A)X!UGQ9!XUU'1KF?78+W2]3=$U_Q):Z!J&KZ L&L*:'K>M^$+35XM!U_7=,6VM!9:EJ>F7=W9_8;4VTT1M8?+/T%L>CT`?_]D_ ` end GRAPHIC 5 g593175g34g28.jpg GRAPHIC begin 644 g593175g34g28.jpg M_]C_X``02D9)1@`!``$`>`!X``#__@`?3$5!1"!496-H;F]L;V=I97,@26YC M+B!6,2XP,0#_VP"$``("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(" M`@("`@,#`@(#`@("`P0#`P,#!`0$`@,$!`0$!`,$!`,!`@("`@("`@("`@," M`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,# M`P,#`P,#`__$`:(```$%`0$!`0$!```````````!`@,$!08'"`D*"P$``P$! M`0$!`0$!`0````````$"`P0%!@<("0H+$``"`0,#`@0#!04$!````7T!`@,` M!!$%$B$Q008346$'(G$4,H&1H0@C0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I M*C0U-CH.$A8:' MB(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7 MV-G:X>+CY.7FY^CIZO'R\_3U]O?X^?H1``(!`@0$`P0'!00$``$"=P`!`@,1 M!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P%6)RT0H6)#3A)?$7&!D:)BH*#A(6& MAXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76 MU]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_``!$(`+0!0`,!$0`"$0$#$0'_V@`, M`P$``A$#$0`_`/U&TKQ3KO\`PK6$7'B'6#XA;]K;Q'X6'G:K?'6&T*/]K/76 MM?#P+S_:#HZ_#"*'R['_`%`T*-`J?8%``/\`R7Y&#?\`QJ\?O%/::[#X5DT[ MQ5\._B!XN\.P:!;^+-`U31&^'7Q)\#^!;ZWU77[/Q@MQJ)U6W\<6EY"VFQ:+ M)8/ILT+2WJSK)&;?(+?A8@U;XJ_'O0'U'2]-/ASQYK6N?%/QWH/A>'2_`6CV M$F@^&O!D,U]<:??P>*_C[X0L?$%Y-:R6HBN8]9LKBVBL+ZX>RU).]4\!:Y+J'@SPIX5D^(_@KPQJG@K2+J[UGQ:^K:I\/++QE> MFY\=:+XL?0-9T!VU=TATZST>\@O+.VL]5BU:2.9;=3]`T7R-WXW76IZ?XRNO M$7_"1>(;WPSX*\`V/B#6?#?P\^*8\&>.?A_Y6LZ]/=_$B\\#37$.D?$KP_J& MEV26GB+P-X MFO+OXM:CX6^'VEK\,]:&I:7X?TKP:?&5Y!-:?\+,TG3]?D-BUE"U]KNO^"K+ M3R-0O[O49EFL](A-OD&FG2W]=CE-+_:$^,VI^'[KXB6'_"+7VE^+?`_[/=_X M.^'T/A.VDU#PWXF^,D<"S2W'BO7?BIX7T_Q):6LZZBBV-[<>'_M\MQI5O!?: M:\4[:F;?(=DM-K?I\CNM&^-_Q6BU+P/<>-=-\&^'/#TFJ:/X2\=V]A:Z#XF\ M1VOBWQ'\1M8^''AH7UOX5^-FK)\/+'4]3CT`0PP1?$(0WMSJFGZA>6*:3)?L M"MV^7]6_R/LF@04`%`!0`4`%`!0`4`<[XP_Y%+Q1_P!B[K?_`*;+FNS+_P#? M\#_V$4?_`$Y$Y\7_`+IBO^O-3_TB1\'5^H'PH4`%`!0`4`%`!0`4`%`!0`4` M%`!0`4`%`!0`4`?9WPG_`.2?Z!_W%?\`T]:E7YUGO_(UQ7_<+_TS3/LLJ_W" MA_V__P"G)G?W$\=K!-+M034M%N-(\;7_@GQ M-=7V@?!OQ+:^';W[;#HO@VRU[0'FU>YM[Z\C&F6%C=FWR&]/EY?U^)]3?`QM M1/PL\*QZKK>L^)-0M$UBPN-=\0W@U#6]5_L[Q!JMA%>:I>"*-9[QX;:,NT<4 M48/$<<:!44V^0OP/+].\'>(M&_')\3:GI&A:KJ;8\/?$#7/B7I'A8ZOJ.B^&[F3Q/ MXZ^)=WH?BGX@:'I.KW\,,7V?3=6GM=2\5ZE8FQ2W\*V=TIM\@_"WR_+8^M%^ M'G@!/%O_``GR^!O!Z^.O(:U_X35?#.BKXM^RM";=K;_A(Q9?VAY!@)C,?VC: M4)7&TXH%Y=.Q;D\&>#Y?L_F^%/#4GV2PU+2K7S-"TM_LNEZSJ&GZOK&FV^ZU M/DV%]JNDZ5>W-NFV.>XTRTFE5I+>-D`V\C#UGX2_"KQ&-<'B'X9_#[71XFO] M.U7Q(-9\&>'-4'B#5-(MGLM)U+7!?:;+_:U_96@:CXD\ M,Z+KE]H=U'-'<)-@\2,#N4$'Z!MY%/5?A7\,-=O M=2U+7/AQX#UC4=8OM$U/5[_5?"'A[4+W5=2\,Q7$'AS4-2NKO3I);Z^TJ"[N MX[*>9GDM$N95@:,2,"!MY6&W/PI^%UXGE7?PV\`W48\++X&$=SX.\/3H/!*3 MPW2>#]DNG,/^$66ZM[>8:3C[()((W$.Y%(-O*P7MY6'6_P`+/AC97?A:_M/A MSX#M+[P-:O8^"KVW\(>'X+OP?92>8)+/PM<1:>LGA^U832[HK!K=#YKY'S') MMY6"YWE`!0`4`%`!0`4`%`!0!B^)+2XOO#NO6-I'YMU>:+JEI:Q;TC\RXN+& M>&&/?*RHFZ1U&YV51G)(`S73@ZD*.+PM6H^6G2K4I2=F[1C.+;LKMV2V2;[& M.(A*>'KTX*\I4YQBM%JXM)7=DM>^A\E?\*G^('_0`_\`*KHO_P`LJ^\_MW*O M^@K_`,I5O_E9\I_96/\`^?'_`)/3_P#DP_X5/\0/^@!_Y5=%_P#EE1_;N5?] M!7_E*M_\K#^RL?\`\^/_`">G_P#)A_PJ?X@?]`#_`,JNB_\`RRH_MW*O^@K_ M`,I5O_E8?V5C_P#GQ_Y/3_\`DP_X5/\`$#_H`?\`E5T7_P"65']NY5_T%?\` ME*M_\K#^RL?_`,^/_)Z?_P`F'_"I_B!_T`/_`"JZ+_\`+*C^WG_\`)A_P MJ?X@?]`#_P`JNB__`"RH_MW*O^@K_P`I5O\`Y6']E8__`)\?^3T__DP_X5/\ M0/\`H`?^571?_EE1_;N5?]!7_E*M_P#*P_LK'_\`/C_R>G_\F'_"I_B!_P!` M#_RJZ+_\LJ/[=RK_`*"O_*5;_P"5A_96/_Y\?^3T_P#Y,/\`A4_Q`_Z`'_E5 MT7_Y94?V[E7_`$%?^4JW_P`K#^RL?_SX_P#)Z?\`\F'_``J?X@?]`#_RJZ+_ M`/+*C^WZ3J&A>#](TK5+?[+ M?VG]H>?!YL$^SS]4O;B+][;R21MNAFC;Y7.-V#@@@?%YM7I8G,,17H2YZ4O9 M\LK-;4X1>DDFK--:K\#Z7+Z53#X.C2JQY9QYKJZ=KSDUJFULUU.TKSCL//\` M2OA/\+-!N/$=WH?PT^'^C77C&WO+3Q=*;74'FEO[;Q'-9Z;&^ MN6]S)<3O-'>F996GD+AB[9-O(+_AL6O#OPU^'/@_2QH7A+P!X)\+:(NM1>)! MH_AWPKH6B:6/$5NMHD&O#3],L(8!K4:6%@J7OE^>HLH`)`(4VFWD%_P,WPU\ M&_A#X,UIO$G@_P"%7PW\*>(GCN87U_PUX&\,:%K3Q7I#7D3:KI>EP7+1SLH, MJF7$A`+`XHV\K#N^^QOW?@;P5?7&@W=]X/\`"UY=^%;^YU7PO=7?A_2;BX\- MZI>2-+>:EH,TUHSZ/?SRN[R7%HT,CLY+,22:/T%MY'DWA7XX7&M7'BS4]:\/ MZ!HO@7PQ/KEO>:[IWCB/Q%XH\.2Z'JTFEM%\1_`D/AZTN/!LM[%#+>VPLK_Q M`JVT3RWS62@%C;Y#M:QT'BCXY_#KPSHWC74F\16,MQX%OO$^A:S;S6OB,6MA MXC\*_#R[^*&IZ=JEQHWAW5+JULH/!]HU[-?VNGWZ*#]GA2YOS'92GZ!;^OP, M*V_:1^'[S>/[>YTCXH0'X:^+8?!GB2XL?@Y\5O$5B^J/X;LO$[WVDS^&?!VH M27>@1V-YS?SPVJ[/L=YL&G:WHUYJY^@6VZ?,WHOCS\,)9DA.LZU;*VA?\)!] MLO\`P-X\TW2X[9?#(\9/I,^L:AX9AL;?QA%X5)U23PO+<)KD5LCR2:>HC?:; M>06M\C*L_P!H3P'=R:KJ$&/"'B#2O$$6@^*Y]1\33>+_`!3XS\*Z M?IWAOP='X;_MG7A/=>$5GT^YTNWOUU6'58I[%)+98[BY`M;R-*?X_?"JV@T. MX?7]3:/Q!9Z?J%F+?P;XWNYM/T_4=6O=!74/$UO:>'))?!MA9ZWIUWI^HW&O MIIL>E72)!J;6DLT2R&WD%K>5B.+XX^$=0^(FB_#G0%U'5]0OM9\3:'J>J-HO MB;3-`L+SPKI%_?ZK!H_B*^\/IHGB^\L]0LAIM];:3JD\FG7$ICN_+E0PD_0+ M6\CVB@04`%`!0`4`%`!0`4`%`&3KU]-I>AZSJ=NL;3Z=I.HWT"3!FA::TLYK MB)951T8QEXU#!64XS@@\C?"THU\3AJ,FXPK5:<&U9-*UXQ;5[6TTULT>*>"/BMXB\2^*-+T2^LM%AM;S[;YLEI;W MT=POV;3KN[C\MYM1E09D@0',;?*2!@X(^DS+(L)@L%6Q-*I6E.ER64I0J M1@[I4XO:3M9K6QXN!S7$8G$TJ$X4XPES7<5)/2$I*UYM;KML?0-?*'OA0`4` M%`!0`4`%`!0`4`%`!0`4`%`!0`4`%`!0`4`-=BB.RQM(RJS+$A0.Y4$B-#(Z M(&8C`W,JY/)`Y`!X1\*OC-#/B19?$:;P[ M/+J=_I:>&?B`=-T"PM/"?CN.73;PSZ-:7NMQQ?9)\7KJB-,?H.UK%=?C9-<_ M&74?A59#X50)H^K66CWD>O?%V31?B5J,\_A#0O&5W/X7^&,?@.\&O6=KIWB+ M35,C>(+,G$[NL:QIYP%K+T\OU/H&@1\YW'P*U'Q!XGU/6?'7BCPSXFLI]!\8 M^%[&XLOAO9>'/'-YX=\9V$NEWN@>-_%]GXAGLO%FB6UDUMY-E:^']$C:;2[" MXN/.FMMSFWR'>WE8X4?LF22^'?%6CW_Q)O+^_P#&7P9\C?;A#%:IY,=RHV-$;?($[6TV.SUGX+>. MA>^/6\(?$3PGI6D?$#QUX9\=:OHWBKX;:UXICFGT7P)X<\$:EH-]%;[[*J6Y!M]2L[U]1L=4,%L;?(+VMIL+=3U?X M8R:SXMTW5)-9\16GP-T-/'EOXGUOP,W@O5)-!\=ZKXHU'4M(\#R,\M_'H9^T MZE$97LU\0FS=HF-OD%[*W;S.Z\9?!+5=?BOGT3QC8Z/=77A/X9^%?(U3PUJ> MKZ%=VOP^UOQ7JUQ'KFG:+XST"]U+2M5B\4&%K"#5;#R7TV)Y)KN&22U8V^0E MI\CF_#G[,T7AWP9JW@Z#Q99+!J/@O4_!MN^F^#[;1M/TRWO_`(A^+?'=O-9: M+9:U]GM[6UA\3IIB6-NUO$%TT2QF))5MH#8=_P`#JO#?P<\0:!XOTO4Y/'&G MWW@SPUXP\?>,?"_A@>$;BVUZSN?B,WB2]U[3]6\7/XLG@U:RM=6\37GR0VR"VN7O'V7,1M\@V^1[[0(*`"@`H`*`"@`H`*`"@#G?&'_(I>*/^Q=UO M_P!-ES79E_\`O^!_["*/_IR)SXO_`'3%?]>:G_I$CY2^$_\`R4#0/^XK_P"F M74J^YSW_`)%6*_[A?^GJ9\ME7^_T/^W_`/TW,^SZ_.C[$*`"@`H`*`"@`H`* M`"@`H`*`"@`H`*`"@`H`*`"@"&XB>:WGABN9K.26&6*.[MUMVN+5W1D2Y@6[ M@G@::)B'430S1EE&^-URI`V^1XSHGP[^(%GK6I^+=?\`'WA37/&4'@[4O!GA M+5K3X;7FA:?:V=[>VFJ6]_XYTJW^($\GC*^@U+3[639IU]X7ME2YU)+2WLSJ M#R1FWR'HOD4_$'P@UO7?%EW>OXK\.6W@G5/&G@KXA:OH<7PXTV/QM>>)_`D_ MA^?1POQ!LM:MH9=+*^%=$MG;4/#NI:LMI#+9P:O#;?9H[(_0-OD>\4"/.=/^ M,'PDU;Q9)X"TGXI?#G4_',-]J>F2^"]/\;^&;WQ9%J6B)=R:SI\GARVU-]02 M^L(["^:Z@-N)+=;*PM+J^NY/)M;*VGN[F78[^5;VT3332;(E9WVQHQVHK,<8`)XJZ M=.=6I3I4US3J2C"*NE>4FE%7=DKMI7;2[DSG&G"4Y/EA!.3>NB2NW97>B734 MYW0O&_A?Q+=R6.B:G]MNH;9[N2+[%J%MMMXY887DWW=I$AQ)/$-H8M\^0,`D M=>*RS&X*FJN)H^RIRDH)\].7O--I6A*3VB];6T.>AC<+B9NG1J\\HKF:Y9K1 M-*]Y12W:\SJZX3J"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`.2\ M->/_``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`%`!0`4`%`!0`4`%`!0`4`%`'.^,/\`D4O%'_8NZW_Z;+FNS+_]_P`# M_P!A%'_TY$Y\7_NF*_Z\U/\`TB1\Z_`S_D;=1_[%V[_].>D5]=Q-_N%'_L(A M_P"FZI\]D?\`O=3_`*]2_P#2Z9]65\*?4A0`4`%`!0`4`%`!0`4`%`!0`4`% M`!0`4`%`!0`4`4=4>"+3-1DN;:XO+:.QNWN+.TMY;JZNH$MY&EMK:UA!DN;B M6,,B11C<[,%7DB@#YF^%?BWP]JUYJ'C:[\*>/O"-WX:\`2:;I?@A/@9\8?"V MG^$_!%E=V^H-H6G_`-J?#[3X_''C!Y;>Q_XEGA^&Z\D6HL]'M)T6YO\`53;R ML.UM/U.0\?>#_%MS\2U\)^"M6U`V6N_%CX:?%C7HKKX,^)XH-%'AC7?"5_XC MN(_CM=W4'AFZL;GPUX=N;"#0;*SN];^T:L+5KR/3!;V%2$^6]K\DE* MU[.U[6O9V[,SK4_:TJM*_+[2$H7M>W-%J]M+VOM='G7@7X8_\(5JUQJG]M_V MEY^G3:?Y']F_8MGFW-I<>;YO]H3[L?9-NW8,^9G=\N#Z^9YU_:.'A0^K>PY: MBGS>TY]HSC:W)&WQ7O?IMJ>=@TYH.%N3EW<7>_-+^6UK=3U:O" M/5"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`/SV\-_%3X MJ:'XKNYY?'GA]O`>DZ?^W3XQUO2/&FBZUJES<'X1_M&G0/#\#>-++5KG4=!T M?3]#\0Z5864%CHFIQV-AIFH0#3=4EO-+'AXV^15E;:VWY=CI=(^*_P`8/%5W MI&CW5OIFC^.?#_Q-\0Z!91#2KWP[X?\`$GVS]G;QMXS\.VOB;PE9_$+7KJ&P MM_$+67F6UWKD%Q)_9MM=O9Z9<;88#;R%HCZ.^%7Q%E^*%CK7B6RM8[3PJEWI M>G^'Q+!-%JLUVF@:9J'B==2\RY;R9-.U_4KK0I+62UL[BWO/#>I),C`QD'X6 M%M\CU:@`H`*`"@`H`*`"@`H`*`"@`H`*`"@#!\5336WACQ'<6\LD$\&@ZQ-! M/"[130S1:? MC36C3TL88IN&%Q$HMQE&E4::=FFH-IIK9KHUL>2?!+6-6U7_`(2;^U-4U'4O ML_\`8OD?VA>W-YY'F_VMYOD_:)7\K?Y<>[;C/EKG[HQ[W$F'P^'^I>PH4Z'- M[;F]G",+V]E:_*E>UW:^UWW/)R6M5J_6?:U9U.7V=N:3E:_/>UV[7LKV[(]Y MKY<]T*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@"O=G9:7)^TK8[;>8 M_;&$16SVQL?M+"?]WMBQO/F?+\GS<9H`\$^$/A^XMM:OO$F@>(?B!J_@'5-" MBABO_B'XO\2^*+SQKXA>_6Y/C7P]INOW\L/@_P`.&R$\4,&E6>CV.H_;UGL] M-M]/M+&XU$V'MY6*]]H%QK7Q334?"?BKQ]>ZSH7B72Y/&%W-XO\`$%O\,O#7 MAZ"RBFN/`-KX'L[^W\/Z]XEU&REBF:>73KW4;`ZG]NN]2MU72].NP-D?1=`C MC;SX=?#Z_P#L7V_P)X-O?[-U#Q%JVG?;/#&B7/V#5?%\EY+XMU.R\ZQ;[+J& MMRZCJ#ZC<1;9+UK^X:Y:4SN6`V\BG:?#'P1HFD/I/@WPUX=\`/#% M%?">F7OAG4Y=&O=`MM>T*VN=!NM-AU>STS4+J"%KJPNH#%-);SP36LTL$I^@ M&UX0\+:;X*\.Z?X;TEKB6UL/M?9C?:EJ.IWUSJNL:QJ+6=M;P2:EJ.K MWU]?7+PV\"-/>2LL:*P4&WR#]#I*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`,7Q M):7%]X=UZQM(_-NKS1=4M+6+>D?F7%Q8SPPQ[Y65$W2.HW.RJ,Y)`&:Z<'4A M1Q>%JU'RTZ5:E*3LW:,9Q;=E=NR6R3?8QQ$)3P]>G!7E*G.,5HM7%I*[LEKW MT/,OA#X3\0>%_P#A(?[=T_[#]N_LG[+_`*597/F_9?[3\_\`X\[F79M^T0_? MVYW\9P<>UG^/PF-^J?5:OM/9>UYO=G&W-[/E^.,;WY7M>UM>AYF483$87ZQ[ M>GRSU\X>R%`!0`4`%`!0`4`%`!0`4`%`!0`4`%`! M0`4`%`!0!#<6UO>6\]I=P0W5I=0RVUS:W$23V]Q;SHT4T$\,JLDT,D;,C(ZE M65B""#0&WE8\TT3X'?!7PS%K5OX<^$'PN\/P>(](NO#_`(A@T3X?^$]*BU[0 M;W`O-$UJ.PTF)=4TB<*OFV=R)89-HWH<4;>0[OOL69?@W\(9O%0\=S?"KX;R M^-UU"'5U\92^!O##^*AJMOL^SZF/$+:6;\:A%Y4>RY^T>8OEKM8;1@"[VOIV M/2*!'C-E\7/MG@U/%O\`PC_E[OC-JOPC_L_^UM^/[+^/&H_!+_A(/M?]FK_K M/L']L_8?)^7S?L7VEMOVM@=K?UY!)\=?A_=1:]%H>L"[U/1-)N=9$6L:-XR\ M/Z-J%G8ZQ;:!J,VFZ])X2N8M9AT_6;NTLK\Z-#JLEA/>6T=W%"UQ'O-O*PK6 M*UK^T'\/;B+7I)+7XA6C>'O%FH>#9[27X3_$RZU#4M4TQKD7EUX?TW2_"MW= M:]HT$=I++<7]E#-#9QM"]\ULMS`9C]!VL)=_'[P&_B;PUX4\.75UXGU#Q!K6 MA:6VH:;I/B-O"MC#KVB#Q#:,/&\6@S>'+K6CHMQIU\NAC58[][348KKRE@^< MGZ!;\"_X^^,&F>`?$-CX8N[!+S5M=TB&3PE8KJ<%I>^)O%-_K=OH>D^%;&WG M@*HTTD[7,]\TI2TM;2YN)H_*@=U-A+\B35/C'X8\+7,UAXQN8M/U*/6=*\+P M:9X:T_QGXTU&\\5WW@34OB!-H5C8:1X+2YU"X_L+1=6FLS9PW+7HMHH?+@O[ MF*P8V';\/^&*MW^T%\*+.;P_"=?U:[/B:ST"^TV;2?!'CS6[.WB\57TNE^&8 M=>O]'\,W-MX5U#5=4@FLK.QUN73[JXN8FMXH6F4I0%OE8YZW_:;^&EWJM_%; M76J'PSI?A6X\2S^*+CPQXUL4U+/B71_#&CV_@_2;SPK'<>/[/6=0U=(M-U'P MTVJ07\\:6UC]JEF7!^@6M_7]6-O4?VB?A'I.F6>K:EXAU:RM;JRUS4989_`_ MCY-4T;3O"]Y9V/B:_P#%.B?\(Q_:/@ZRT>;4+-M0GURUTZ.RAG6YN6BMP90! M;\#N_!WC_P`+>/$U=_#%[>W7]A:B-+U*/4-"U_P_<13R6L%]:W-O;>(=+L9M M0TB\L;FWN;/5+1)[&]AE$MI<31_-1^@MCLJ`"@`H`*`"@`H`R=>OIM+T/6=3 MMUC:?3M)U&^@28,T+36EG-<1+*J.C&,O&H8*RG&<$'D;X6E&OB<-1DW&%:K3 M@VK)I3FHNUTTFD]+IJ_1F5>;I4*U6*7-3A.23VO&+:O:VFFMFCE/AOXKU'QA MH=UJ>IPV4$\&JSV")8QSQ0F&*SL;A69;BYF;S-]U("0P&`O&02>_.,!1R_$T MZ-&4Y0E2C-N;BW=SG'[,8JUHKI>]]3ER[%5,90E5JQC&49N*44TK*,7U M?4]!KR3O"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`/-/AMX^U'Q MV/'$>J^$;SP9>^#/'NJ>"SIM_J^EZQ=WUM9:3H6M:?K*DAFD^Q0?:H[C4(H0;#T7 MR_KN>T4"/GZV^#.OVNJIID?C?3!\+8_B3?\`Q7'A`>#[K_A+#XJU#QK>_$J: MT;QVWC!K7_A&AX^OI=5%F/#*W6U5M!?BV^2C8=_P_P"&,Z__`&>OMO\`8'_% M7>5_8?@/XE>"/^0!O^U?\+"^(7P_\=_VG_R&E\G^S_\`A!?L/V;]Y]H_M3S_ M`#8/LWDW`%[?A^!B>.OV;+KQI/?27FL?#/6+6#QMK?C#POH_Q$^#WG34$N)6= MC;\/?`?6_#.I:!9:9XZTB+X>Z#K_`(=\6P>$XOA[8:=JJ>(-"\,:?X6E@T_6 M=$UZQT?1O"=Q;V3WJ:-9^%XS:7-R4MKM-/BCL$-O*P':>.O@[X?\?ZY#=.N(;"%=;T"YOM;TS7X/$6@ZXTIETW4+34M&TNYB6*(?Z1IUK,S MGR%6C;Y"6AS\7P6U2X\5>%O&.N>,[;4-9T+Q_H?C_5/L?AW*Z=X/NI_#/B?7/$MI>:]I6G?'OPO+!J.D:EJQ MO;*?4O`_Q+^SW-M:76GFQE62)#;RL"T3Z?UZ?Y'IUK^S?XKCTK1-.O/BCIMS M/X#\.>'_``U\,[^'X?2V\NC6W@OQ7X1\5^#[SQE%+XXN$\97T4OA"TL]2:S_ M`.$=COX+AVMH]-G7SG-OD&W38N:I^S=?Z_H_Q`BUOQY:S>)/B7\-OB_X'\2: MSIWA"6PTJ/5?BM:>%=,CU[2-`G\57\:!X4_L+7_%>N?;_`+5_PDS>'S]E^R^1]A_L+1HM(QYWVF3[ M3Y_E>;_JXMF[9\^-Q-A?H=A0`4`%`!0`4`%`'.^,/^12\4?]B[K?_ILN:[,O M_P!_P/\`V$4?_3D3GQ?^Z8K_`*\U/_2)'G7P,_Y%+4?^QBN__39I%>OQ-_O] M'_L'A_ZSU\X>R%`!0`4`%`!0`4`%`!0`4`%`!0`4` M%`!0`4`%`!0`4`>+^#/`7Q%\*S_%:\NO'7@K5+WQ[K]QXI\.M!\-M=TVU\+Z MT^@:9X3XI7C^*]+CLM`T*1[:VGT"626._*W,:7<*6!M\AZ:>7]?( M[A/"K-XZF\:WVH_:_LWAN/PWX=TH6:PQZ%#=WXU'Q+>"[-Q(]Y=ZO/9>'HY, M1P)%%X=MD56:25W-OD+;Y'84`Z MN[""\M)KZP6V:_LHKB&2ZLENT>2T:[MTVEU2V5KJ4-I?PQ.SV=R^G7UC=+%*$9H;R"4` MI*C,!MY%R@"@^JZ7#JEKHE7&FVFJ:E:Z>T@ MGN+"SN]8TB&>XCC:.&35;-)&5KF(.!^A?H`*`"@`H`*`"@`H`SM8N+2RTC5+ MN_@^U6%IIU[<7MKY44_VBT@MI9;F#R9F6.;S(5=-DA"MNPQ`)K;#PJ5,10IT MI>SJSJ0C"5W'EFY)1E>-W'E;3NE=6NM3.M*$*5652/-3C"3E&R=XJ+;5GH[K M2ST[F3X/N]#U#0;74_#NF1Z1IM_)^UCIZXCI"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@`H M`*`"@`H`*`,S3=:T;6?[0&CZMIFJG2=2N-&U0:;?VM]_9FKVB0RW6E:@+65_ ML>I0QW%N\EM-LE19XRR@.N3]`V\C'F\>>!K;Q7!X$G\9^%(/'%S9C4;;P;-X MBTB+Q7<:>WF;;^#PZ]X+^6S(AEQ,EN4_=/\`-\IP!;[D=70!\9V<[Z-I6E># MXO@]X]U?XC>#?%'Q*\5?VWIVC:EH.F66H:AI_CRX;Q]HGQ%O]*E\.>)]5\31 MZI!90:.;G4;LW/B>$ZMI\$6GW#VQM\A[>1YQX4\0?%GP?X4U_P`9+<^/]3BT M?Q9X47PWX<\:V_Q-TB;Q2_Q%TF7P2^A(?C)JPU:_N+3X@WWAW4\M::/#"+2Z MM])T6V@OX?MP'X6_3T.HL_AMX^'BK6-,U'Q7\<[K3--^+W@?P1::I#XY^(UE M9ZG\-)/V;_`D7B[5X7M]46!H+_QY;:IY_B*'%W8:N]^^GW]AJ4US+(?H%[6V M_IG):X_QEM;OX<6&GGXT6][X6_L)K*XFM?BGXBTW7-.M/C+KFD:Q;Z^^D2VM ME>:NOP[L-'DN]1^(NI^(!=V>I6UUI&DF\6_U&4_0-O+^OZV/:_ACI/CVP\=> M&-9UF[^(]Q!XA@_:`MO%5KXCU/Q1>^';*+0_BIID?PN\C1=4E;3/#<[>%Y]1 M^PW%I;VDVI63L\DEW%;0M`;!^%C!^,ND:V=:\;WB3_%30M+N]8^'DJZM\._# MGQ*UL:FFG^&O%4$EAJUM\(M=T7QK=:&+^YLQ+)X9U`&WO%L3J*M8&>.0V\K` MM/E_74\T\2I\4K[PIJTM_P"'/BGX'UWQQXN\(ZCJ4'A-?B=J\^E:V?V=/AU: M"PU+4OA,=-\0:WIUIXQMK^P;48_$7AO16OM%E36-22/]PYL"T^7]=3M$@^+F MH:?X*\9WDGQ2C\3V-_\`LF^?I$,OB[2M(,'BS7?#&D?&Z76_!MF;>PU%;;P_ MJ.M2ZDFJ65Q'HS6C7@2RGMFF!L"_S_X!Y--X>\87NOZ1K&I_\-'6'B:S^#?C M[1?BQXGTW1_BYK-MI/CK4/B;\`]2O+3X=6SW^FW,WA34+#0==8VGPPOK6>;2 M=/E;3'74[:=T/T'LNFEK?C_6I]S?!.\UZ]^&?AR7Q'I>L:1J$#:U800^()?% M#ZU?:)IGB#5=.\-:]J4/CB\N_$FG76L>';72]6;3_$-W=ZK9?VF+349YKNWF MD<_03T/5:!!0`4`%`!0`4`<[XP_Y%+Q1_P!B[K?_`*;+FNS+_P#?\#_V$4?_ M`$Y$Y\7_`+IBO^O-3_TB1SGPG_Y)_H'_`'%?_3UJ5=>>_P#(UQ7_`'"_],TS MGRK_`'"A_P!O_P#IR9Z+7D'H!0`4`%`!0`4`%`!0`4`%`!0`4`%`!0`4`%`! M0`4`%`'R_P#!75/#GAF;X_)IG@WQAX5T'3_B5JOC&TL(_@]\0O#5MJ>E7/@W MPK:ZCJ'A+29/!MJWBR]NO$6@^(W:VT*#4+NYF=)Q%)_:=K)=FWE8=MO\_P"K M&9XRM9M2^+?AN'P]IWQ*T[4-,\?^&M;UWPE+\-;&W^$_BRTMHIM-O_B3?_%+ M2/";%_$>GZ#>126EC?>-!*\OA?3[2;P^&D$U'Z!LO3^MCZSH$%`&1J7A_0=8 MN]'O]7T32-4OO#M\^I^'[W4M-L[Z[T+4I+6:QDU#1[BYA>33+YK*YN+2,ML=@3]`V\C7H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`*6I6$.IZ=?Z M9<-(D&H65U83O"569(;N"2WD:)G1U60)(Q4LC`$#((X.E&K+#UJ5:"3E0G&< M4[VO"2DKI-.UUK9IVZHBI352G4I2NHSC*+MO9IIVO=7L]-"EX>T*T\,Z/9Z) M8R7,MK9?:/*DNWB>X/VBZGNW\QX88D.))W`Q&OR@`Y().N+Q53&8BIB:JC&= M3ENH)J/NQ4%9-R>T5?5ZD8>A#"T84*;;A"]G*U]9.3O9);OML;5()M?_`+%/+U:".`2Z1?Q:;:_ M:!+#80:?:K#!)'"EM(;?(=K>6WY%[3/C)\2;B;P???$.TT[PA)I'B?5]'X+F+4+J])O6T[[7:Z7' M)9!*-O*P6MMT_KR$T/X\_+[0/"+V/@S2/%.N_%6Q\$KK&L>#]7M=,L]"U MSX*_$CXE:?J`\(6?Q0O-2:\L]6\&646-2U71+C4;.:0MINCM=P7$)L%DOE_F MD1ZU\7OBCXK\.//I^L>"/"5MX?T/X7ZCXP@ALO$?_"2Z_?>,/&5[HDDO@_5( M?%-I'X2T59M$DCB%[:>(I+]IKVP9[4V_VFX/T#;Y'W)0(*`"@`H`*`"@`H`* M`"@`H`*`"@#G?&'_`"*7BC_L7=;_`/39:G_`*1(YSX3_P#)/]`_[BO_`*>M2KKSW_D:XK_N%_Z9IG/E7^X4/^W_`/TY M,]%KR#T`H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@#P[X*IJ]I>? M&72=6\4^)/%W]C_&/5K?3M0\47UO>WUGIVH>"O`?B!-'LULK.TM+'2+.[UF\ MCMK6UM84CC(+"29Y9I38/P//_&HUO3/BSX7\8Z+XAO\`5/"L_CWPSX,\37EE M\8/$%S_PCFH:B+C1U\#Q?`[3M+M?"EQ9RZM`V&M%_P/U/K&@1@V7A;PQILYNM.\.:#873'7BUQ9:1I]K.3XIU<:_XF)F@ MMUA:?'J-] MJZ6.C>%M#TNS35M3L+K2M2U1;:RL8HUU&[TN^O;.>Y"B26WO)X9&:.5U8V\K M!^@S0_AG\-_#$6G0>&OA]X(\/0Z/>IJ6D0Z'X4T'28M*U&.QU;2X[_3H["PB M6QO5TS7]=M!/"$<0:U?PAO+O)ED-O(!+[X8_#74KW0]3U+X>^![_`%'PQ%<0 M>&M0OO">@W5[X>@NV=[N'0[N?3VETF*9Y)&D2U:(.9&+`ECD_0-O([B@`H`* M`"@`H`*`"@`H`*`"@`H`*`,G7K";4]#UG3+=HTGU#2=1L('F++"DUW9S6\32 MLB.RQAY%+%48@`X!/!WPM6.'Q.&K23<*%6G-I6O:$U)V3:5[+2[2OU1E7INI M0K4HV4IPG%7VNXM*]KZ:ZV1E>"-"N_#/A?2]$OI+:6ZLOMOFR6CRO;G[1J%W M=Q^6\T,3G$[3C!W2%PM*A-IRAS7<;VUG*2M=)[/MN=77"=04`%`!0`4`%`!0`4`%`!0`4` M%`!0`4`%`!0`4`%`!0!Y]IOPD^%.BP^*;?1_AE\/M)@\<036OC6#3?!GARPA M\86MS]L%Q;>*8[7347Q!!*-0O]\=^)U;[=<;@?.?<;>0[OOML:C^`/`DGBQ/ M'TG@KPD_CJ*T%A'XT?PWH[>+([%8S"MFGB-K,Z@EH(6:,0BX";6*XP<4;>0M MM-EV.MH`^6]-_:7BO+/Q(]UX*N=-U'0_C?H_PHL+&?7%:#7_``]J_P`?7^`4 M?Q`T^^72``MOKMCK5S/HQA:2)]/AMWNUCOX+Q@=K?=^ESK?$'[1OPS\/:1J> ML,WC/5H-*U70-+>WT3X<^.[V\U%?$.O6?ARSUCPW$_A^)?%OAR/4;V%)-5T1 M]0M6=H[:"2:]NK6UN@+?+^OP)?#/Q^\#ZWJVHZ%J4E_X;U2SU?QGI]L-3T7Q M/!I%U:>#&NKB^DG\27OAZTTG3=>_L6TEU6;P]<7@U*VM8Y)G@:&)I0"M;Y%[ M_A?OPM2#3)9]9UNQGUGQ!%X6TG2=2\">/]+\1:CK=QIM]J]E:V?A?4?"\.KS MPW>EZ9J%S:7:V1MKN.TE:VFE"T#M;Y%?2_CWX"E_X1"RUR^FT+7O%\&E2V^F MQ:;K^M:;I,FOZU/X>\-P^(?%&G:&=*\,OK6MV[Z?I?\`;5QIAU*\#6EB+B=2 ME`6_`O1_'CX527&MV_\`PD\T'_"/:7XBUC4+J[\.^*;+3)++PAJZZ#XH&CZO M=Z)'9>(K[2M9DM[.[L=)N+VZ@EO+59(1]K@\T%8Y31?VE_`&IZQK&D7-MXKT M^6V\4P^&=!LO^$!^)%UXHUCR_"?A3Q-K&JZKX)3P2FM^#M*TJ3Q796EW>:O9 MP6D`>UGGNH5OHDH':WE8^B`00"""",@CD$'H01VH$+0`4`%`!0`4`%`!0`4` M8OB2[N+#P[KU]:2>3=66BZI=VLNQ'\JXMK&>:&39*K(^V1%.UU93C!!'%=.# MIPJXO"TJBYJ=2M2A)7:O&4XIJZLU=.UTT^QCB)RIX>O.#Y90ISE%Z:-1;3L[ MK1KKH8OP]U;4-<\'Z1JFJ7'VJ_NO[0\^?RH(-_D:I>VT7[JWCCC7;##&ORH, M[:?#;Q]J/CL>.(]5\(WG@R]\&>/=4\%G3;_`%?2]8N[ZVLM)T+6M/UN671G MEM+/[=8:]:S+9QW5VT*[1+*)C)#`;?(-CC]:^--UH?Q>T3X876C>$477[BSM MM)MW^).G-\3M3M[FQO[V?Q5IWPLL=#NI/^$!M#I>HV\^LWVN:?,LVFW86P9$ MA>Y!VT]#WN@1\RZQ^S5IFL:/X0M)/$L]KK/@WX[ZS\9K+7+32A$U[IFO?'JY M^..I_#W4;/\`M,F?1YKHZ19FY^T`?;?#FFZK]F_WW6_"QRGAO]DJ MQ\(^']>T+PUJGP]T!Y8?#L7AK6-"^#6AZ1KKOX3\8:)XST*[^*.O6/B%-4^) M=[%?:!9VT\EM?^&4NH;B[EFC:_ECO;)-%31/$'B M;[1;7/B?XJ>(-;_L[1GT[[=!\5/!_C'PEJ6FV`EUFZ?3/LFSZ7X'OOAUJUA::IX*NM5U#3]6^'WCY/&IO/"=W+XTBL/" MG+XQEM9]'@^ M+YL;Z'0D9XM3^)GQ%T?XC:5J'D2ZLR,F@ZEHMK`UNQ8:@I9B]H#L)M\A;'.> M(_V<_&OBJU\1MK?Q(\$7VK>,/$$6NZ]+<_!F.ZTC2[NU\)>'/"FE:UX!M+SX M@S:OX-\::.OAN"^TO6_[?U%+:YO)GFL;IH[9K8V^0[V\CZQMH?LUO!;^;-/Y M$,4/GW+^9<3>4BIYL\F!YDS;=S-@98DXYH$34`%`!0`4`%`!0`4`%`'.^,/^ M12\4?]B[K?\`Z;+FNS+_`/?\#_V$4?\`TY$Y\7_NF*_Z\U/_`$B1SGPG_P"2 M?Z!_W%?_`$]:E77GO_(UQ7_<+_TS3.?*O]PH?]O_`/IR9Z+7D'H!0`4`%`!0 M`4`%`!0`4`%`!0`4`%`!0`4`%`!0`4`%`'B_@SP%\1?"L_Q6O+KQUX*U2]\> MZ_<>*?#K0?#;7=-M?"^M/H&F>'+?^VK>3XI7C^*]+CLM`T*1[:VGT"626._* MW,:7<*6!M\AZ:>7]?(EU[X=^,/$?BC3Y]6\=Z5>>`]*\5:)XTTWP]+X'C3QE MIFLZ!'C(O"4%_J'P]^(FB^$[_`,3>$]2U31]? MT+1_'6L^%;7PWK6IVNIZ'K-OY%AJURTKZ7=>2)!`Y4_0=K>7]=CUN@04`%`& M-%XAT>7Q#>>%([O=K^GZ-IGB&[L/L]TODZ/J]]JVFZ==_:FA%O)YU[H>J1^4 MDS2I]EW2(J21M(`;-`!0`4`%`!0`4`%`!0`4`%`!0!G:QJ']DZ1JFJ>3Y_\` M9FG7NH>1YGE>=]BMI;CR?-V/Y6_R]N[8VW.=IQ@[8>E[?$4*'-R>VJ0I\UK\ MO/)1O:ZO:][75^Z,ZU3V-*K5MS>RA*5KVORQ;M?6U[6O9AH^H?VKI&EZIY/V M?^TM.L=0\CS/-\C[9;17'D^;L3S-GF;=VQ<[<[1G`,12^KXBO0YN;V%2=/FM M:_))QO:[M>U[7=N["C4]K2I5;#/B!X-^(5KK=[X*UZS\0V7AWQ M)J?A'5[RP6X-I;^(=%6V;4]/BN)H8X[W[/\`:X%:>U::`LS(LA>-U0_0-O(Q MI_B[\/[;QH_@"76KK_A(X+VPTJZ,?A[Q-/X=L--(-'?P[IG MBF[TZYL[J#1+O58=0EAOK26.V9+N%I0+6\K'I5`'Y_Z#\)/B'!K>K6NG>!_B M5X9\2'XN?'3Q7;_$#Q#\4M*UGX1IX=\<>.?B7JOA_4/"WPVA^)FMMHGB6?0? M%6C,EQ:^"O#MY!=-J$MQ?`S74>J&Q3?X6T,SX>_LWZP='LM`\2^!/%MOX;N_ M'G@'4?&'AOQGJGP,M]&U1-"\/>.H/%6LV'A[X*:!HVGZEHFJWNNZ/9WUYKTU MYK6OV\:P:IIL%K9'[<;?(&[?+U_4UI?V9I]2OX;G6?AOHE^-6\(?M2)XL>]F M\/W7]M>*/$'Q1\-Z[\"GUM7U!O[9FL=!_P"$CN](EG$\6A2R2,&T^[ECW&WR M$G9>EO\`@G3'X>_%N/5O%6C6OAF\A'BCXA>$OB#;_$`^(O#AT_1A8_L[^#?A M==07%H=8;6KGQ%9^,/",US((M/:U>SO[:>"]FG$UM";!LEY=/F>>)\%?$<&C M>)TT;]G5O#.DZMX1^$/AOQ#X-MK_`.%VHW?B_5O"WBKQ7J/C'7X=)/Q#M/#O MBE+B/5=+N2?&.IVW]JQB>;4[&:ZC%G.;!VUV/K3]GSPMXB\$?"/PKX4\4V=U MI^JZ%-XEL(K&[N?#]U-:Z)'XMUUO"\`?PI!;Z/#`GAEM($5MIMK8VUO$([>* MSLUA%K`;>5@/9J!!0`4`%`!0`4`%`!0`4`%`'.^,/^12\4?]B[K?_ILN:[,O M_P!_P/\`V$4?_3D3GQ?^Z8K_`*\U/_2)!X/_`.12\+?]B[HG_ILM:,P_W_'? M]A%;_P!.2#!_[IA?^O-/_P!(B=%7&=`4`%`!0`4`%`!0`4`%`!0`4`%`!0`4 M`%`!0`4`%`!0!\_?#:Y\::1J'QTU+6/A5XUTM-1\<7/C#PK:SZM\,+FZ\8V2 M>"_#'AV/3M%_LWXB7,.GZI-?>%)W0:]-HMN(M5L&DN8V^U)8FWR'M;78Y37_ M``A\0-0U3Q#\/HO`[-X!_BC:_$]=6\,R:%9Z'X?\4^"O&NIZ;J.C3Z MU!XBA\<1:CX4O--L&M-(O=/6&?3+Z34$>*:QA`V\K=#ZLH$%`!0`4`%`!0`4 M`%`!0`4`%`!0`4`%`!0`4`%`%+4HK&?3K^#4S&NFS65U%J#33&WA%C)!(EV9 M;@.A@C$!DW2!TVC+;AC(THRJ0K4I4+^VC.+II+F?.I)PM&SYGS6LK.[TLR*B M@Z=2-2RIN,E*[LN6S4KNZLK7N[JW M7'V>RM]J1QHMS)--Y=M"26.YML99CP371B,/CDZN(Q&&K0YI.4YRI2A'FG+5 MM\JC&\GHM%=I(RHUL+:G1HUJ;LKLZ*N,Z`H`*`"@ M`H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@`H`*`"@#XMBO-572_"OQ*TGXA M>);GXE>(_BS_`,('>>'K_P`2:WJG@N*"^\=7GA_7O"3_``KCUNTT:V?PEX?A MN]2>[M;>QULIX7EDNM3=+F?SC;Y#VTVL%-M]`EMM;_LN'0=*\:);Z=XGNK"WN+$^($; M'HS1$VP-OD"2O;8Z'Q'^TI\5-+M?C'XDM/!6CVGA'P7X=^-B^$;W7QX7M4N_ M%OPB\/>(=4A29K7XQR>)/%-IJ4^@O.^FP^!_#DEOI\PNUU*:W,<\IM\AI+3Y M?UL>\>+=1\9VOP[\*V_B/5M,L/$/BKQGX*\/Z_JO@^/5M$LM,TKQ1XPLH)M. MT:ZN-6GOX-0.C7$.AIJRW-O)->77]H6]M8F6*RM3;Y$[?(\3\:_&'XJ>$_$> MI>%OA]H?_"5ZG=^*/B9KL[ZT?#VHV]AX9\"Z;\/$?1K5O&/QA\`P:1:RS^*F MGEU*"_U@Z?';R2G1KM;B26U-OD-)>EOZ[,T9OC;\69;OQ-:V*?#)9]:C>;X1 M>3_9VN>']2BTOQ7X?\.^(K2Z\:67QLXCH-[IW@"W;5-0M--M M-;OT$]Y$;!HK>7]?UN=AX@^)/C/5_P!G'7_'?@_7]'T?QUHT&N:9?:M?^"II M-.L/$O@OQ9>^$_%]DOA&7QC>);31:IHVKV<>/$.M6L4B+-%=:G;A)+D_0-G_ M`%\CB-`\;_%GPW\1OB8=9\4^$M;\+:7\:_`/@KQ!97FB>)[21)->_9^^$>HW MEYX&EN/&]]:_#[PW!XDOKO5WTJ>U\1M<-K&H;KJ&X+7=V;?(-$ETT_5F3X(_ M:+^*OB?4=;\-W6D^#[+5Y9?@[J?A?6YO#FO:=HQ\._%Z^\:Z?`TF@W7C.76] M6CTL^$A/!J&J0^"KO5DNB6\/Z3;-:WMZ;?(+)6_K8^E/A1XLUKX@_#W^U-;E MM+#Q!!K_`,1O!6I7_AZT:QLWU3P!X]\5?#VYU[1M.U>YU4Z=#=W'AIM1@LKR MXU+[.+I()9;H1L\I^@-6/%?#VA>._$7[/6G:9I_C+5]%)4@M-+NWO-(L%0QZ/]@6"WLK MI_(-OD&S[?UV-'X&?$O4+_4;;PSXPG\6:QXBGT[1O#D'BJ\ALK'PKJ>H>&O! MVE^(IH8]$;6O[5TWQ5JVC:V/%-[<76@65NL>MVND-?7%UH@B4V^0;?(CU+XW M_$2T^,/B?0+?PMI*?"WP;KEGX4UO7]6G\*:64U2\\`6/C9-3;7KGXKKK<0\S M5+6TBT:R^&FK/<16TUW#J9/F6]H?H%K+S_KR_4XGPO\`'WXQ>(]57P)/!X#\ M/^+]:\3^#;30?%&M>#];M_#=AH/BOP-X[\:B.?P9'\3WUG6]0QX`O+&SGO\` M5/!]S>+J\-\^BVL%O$FJFWR#1?(V;SXI_$C1=9OO%5MJ_@+6?#RZ_P#LZ^&O M$>D:;=Z]XGTBZG^)OC#3_A[JEU\/O$$>JZ?;:)!:7^O1ZDTUUI6IF\_LXV7.HW]OX5^(7B#0](U+5;N6_O;O29K?2_$ M,$,E]<2/-=QZ;/KUSHTBH)7ED5I93;Y"V\CK?&'_(I>*/^Q=UO_TV M7-=F7_[_`('_`+"*/_IR)SXO_=,5_P!>:G_I$CY2^$__`"4#0/\`N*_^F74J M^YSW_D58K_N%_P"GJ9\ME7^_T/\`M_\`]-S/L^OSH^Q"@`H`*`"@`H`*`"@` MH`*`"@`H`*`"@`H`*`"@`H`K7D\%K:75S4%%"$N-H-`'S!\(8/$7ASXH:UH.J:OJ6J>'_$7@N3Q9X3U2 M;XN>)_B[!XMMK3Q*MG>>+=0;Q%IFF6?PYU"YLM7\/M#X=\+6+:$RWEY]BN95 MT_9";?(?;I;RL#+?19F^#V@,-)^((O=7\:I?WESXJOH+R&SD@?2=,N(K%9[\V^0;+M\C M[6H$(K/5;.*Q6'4;75)Y99+V*X21+IY':<2%B2;>0?H,N/AK\.;O4 M=>UBZ\`>"KG5_%6C3>'/$^J7'A70IM1\1^'KBV^QW&@Z]?26!FUC1I;3]P]E M=O-`T?R-&5XH#;RL;VMZ#I7B'2;G0M7M/M&F7:PK)!'/^&_P\\4P06OBCP)X-\36] MKK`\0V\'B'PSHNMQP>(%@6V&O1KJ=E.$UK[.BQ?;A_I&Q0IDP,4?H&WD5;GX M4_"Z\N_$]_=_#;P#=7WC:TCL/&=[<^#O#L]WXNL8C"8K+Q/<2Z$_"UIX:7P9:^&M`MO!ZZ6^AKX4@T;3H?#2Z+) M"UM)HZZ%';"R&EM;N\1M1!Y11BA3:2*`*FE^!/!&AV:Z=HO@WPKH^GQW6E7J M6&E^'M(T^S2\T+2=.T#1+M;6TLXXUNM.T+2-)TZUE"A[>TTNTMH2D-M$B&WE M8/T*&A?##X:^%]W_``C/P\\#>'=]S:WC_P!A>$]`TC?=V-Y>ZA973?V?I\6Z MYM[_`%+4;F*4_-'-?W,J$//(S&WD'Z'26N@Z'9:==:/9:-I5II-[/J]S>:7: MZ=9V^G7=QX@OKS5->N+JQBA6&>?4M2U'4+N\=T9KF>^N)IB\DSLQMY!^ASWA M[X9_#CPCH>I^&/"GP_\`!/ACPWK4D\NL^'O#WA30M%T/5I;JUCLKF34])TVP MAM;^2:RAAMY&GB5@O^!K1>$_"UOXDNO&,'AKP_!XOO=.ATB] M\51:-IT?B2[TFW<2P:7=:XEL+V?3HI0'2VDG:)6`*J"*-O(/T*=QX"\#7?BB M+QO=>#/"=SXT@TY](A\7W'AW1YO%$.DNLR/I<6OR69OH].9+FX4VRSB(B>0% M<.V3;R#;39=CG8?@E\&;;0;[PK;_``C^&,'AC4Q8#4O#)"IMY6%M MY%K0M`TGPSIXTO1;4VED+O4M0='N+J[FFO\`5]1NM6U2]NKR^GFN+N[NM2O; MJXEFFED=Y)V);FC;Y!^A5\8?\BEXH_[%W6__`$V7-=F7_P"_X'_L(H_^G(G/ MB_\`=,5_UYJ?^D2/E+X3_P#)0-`_[BO_`*9=2K[G/?\`D58K_N%_Z>IGRV5? M[_0_[?\`_307?W;&A=>`O`U[XIL?'%[X,\)W?C73+ GRAPHIC 6 g593175g57p32.jpg GRAPHIC begin 644 g593175g57p32.jpg M_]C_X``02D9)1@`!`@$`8`!@``#_[0=84&AO=&]S:&]P(#,N,``X0DE-`^T` M`````!``8`````$``0!@`````0`!.$))300-```````$````'CA"24T$&0`` M````!````!XX0DE-`_,```````D```````````$`.$))300*```````!```X M0DE-)Q````````H``0`````````".$))30/U``````!(`"]F9@`!`&QF9@`& M```````!`"]F9@`!`*&9F@`&```````!`#(````!`%H````&```````!`#4` M```!`"T````&```````!.$))30/X``````!P``#_____________________ M________`^@`````_____________________________P/H`````/______ M______________________\#Z`````#_____________________________ M`^@``#A"24T$"```````$`````$```)````"0``````X0DE-!!X```````0` M````.$))300:``````!M````!@``````````````$@```-X````&`&<`-0`W M`'``,P`R`````0`````````````````````````!``````````````#>```` M$@`````````````````````````````````````````````X0DE-!!$````` M``$!`#A"24T$%```````!`````(X0DE-!`P`````!+L````!````<`````D` M``%0```+T```!)\`&``!_]C_X``02D9)1@`!`@$`2`!(``#_[@`.061O8F4` M9(`````!_]L`A``,"`@("0@,"0D,$0L*"Q$5#PP,#Q48$Q,5$Q,8$0P,#`P, M#!$,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,`0T+"PT.#1`.#A`4#@X. M%!0.#@X.%!$,#`P,#!$1#`P,#`P,$0P,#`P,#`P,#`P,#`P,#`P,#`P,#`P, M#`P,#`S_P``1"``)`'`#`2(``A$!`Q$!_]T`!``'_\0!/P```04!`0$!`0$` M`````````P`!`@0%!@<("0H+`0`!!0$!`0$!`0`````````!``(#!`4&!P@) M"@L0``$$`0,"!`(%!P8(!0,,,P$``A$#!"$2,05!46$3(G&!,@84D:&Q0B,D M%5+!8C,T)E\K.$P]-U MX_-&)Y2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V-T=79W>'EZ>WQ]?G]Q$` M`@(!`@0$`P0%!@<'!@4U`0`"$0,A,1($05%A<2(3!3*!D12AL4(CP5+1\#,D M8N%R@I)#4Q5C+RLX3#TW7C\T:4 MI(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F]B7I[?'_]H`#`,!``(1 M`Q$`/P#?Z3T_)QG7^TO6IN]'^:_1_I7_ M`-)78))*>2JROK5::V.?DUT.M`-YQZQ=M^R667[ZO3LJ977U3T*J7>G^FWV_ MSE%?VE6.J874.H_5[IW4W8P=U[IPHSF4%H:3>P-=FX?OW[&Y#/6I_P"-]&W_ M``2Z5))3Q]H^L72[+,3I>,X5-9<^VVNFOTWWVT79+;Z6M=ZEK_VI^C?O^SUL MK?51]EV?KBE]M^M;:C79]I]/U&!^4S'K=>UMF(Q[?2Q]OH6LKZKZE=WZ+?2S M_@OUJOKDDE.)T?)ZW=U+*9U$/JKJ-C65&D"LLW5_9+Z'<.F]0<_,JQH:UXRFWNK&-]G?\`]I,JEF-U M!^_V?H[*O\,O1$DE/)]2SOK2RS-;TZFUM#*+AAD4,@6M^ROPO2I<7.V/J?F5 MO?=9_._]IL7T_P!*]^=]:ZPYE-=]WI9CPUYIK!LQFV8C_>9K9N^S69U=/IU4 M>MZ7\]5;7Z67U:22GBW=?Z]=?E#!M]5]9R#7B^C#K*ZLH8V_IOK,QF7OQ%=6DIYC'S/K-]MQZ+_6&,'VM.1]G:\V> MGE6,:W+V&AN.VWI7H6TY%-;*_6?=_A*Z\1]3'ROK@_#;ZYR?5+,*ZPBBMKFN M^UNKZE16UK-CO\G^G;Z?O?\`N6?X-=DDDI__V0`X0DE-!"$``````%4````! M`0````\`00!D`&\`8@!E`"``4`!H`&\`=`!O`',`:`!O`'`````3`$$`9`!O M`&(`90`@`%``:`!O`'0`;P!S`&@`;P!P`"``-@`N`#`````!`#A"24T$!@`` M````!P`(``$``0$`_^X`#D%D;V)E`&1``````?_;`(0``0$!`0$!`0$!`0$! M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,# M`P,#`P,#`P$!`0$!`0$!`0$!`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,# M`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#_\``$0@`$@#>`P$1``(1`0,1 M`?_=``0`'/_$`'\```(#`0$!`0`````````````&!P@)!0H#!`$!`0$!```` M``````````````$"`Q```00#``(!`P,"`@L`````!@,$!0_'M2F;,Y95M+G\\G3/5.Y-:.# MT./:+KKK#V0`M4J>EOWS7QU3C87D(1E!1G)]KVN%QIUFO-H2)(12S+`AU M&R4F,_:969RJ?V_]57.ZRB@CKBVRQU8^S:)-^AJ@YX+.>+5K$GZ&YTDNEZ4T M(98+?3L^'-$I609#!@-,9C3%?G\G`PCAW]@Z>KI--_H;N5T5_DT24G7#=*\\ MU>XG)\$=TWQT'15B4KS]RS8QH*Q9B" M<>YZ2F6G8$^#\(]&$(;Q5/3,;<<],DE5A;Z`C1"*7>&SR3@)HFV>?K$2X8NU M6L?%;S.7,2TW>N%F6V[=LLHZZSLU;J:QZYZHH$$M&%B/URK;ZK"&)T!PTA6: MWZ@(GP\DXN-E4ML;;4CPX>8#GFDJ#]:_ MODL&GS"M*ZBZ>ZIK.:..6#0J&H3=&IYV;CYI4C#0\DFD%FP=#/VR)8+JMVRR M2SJ/<1;97/PN,IJ3R;;;X6Y+>\/O^<>5U@NS*NY=C%^H?:!9ETV+S[7%;A8N M!_L7DB,EHJ8#&LZ3[LHN`JVH6-:0D"3/T&K;=62G9?1-!DZW2TV;B.OSA%@) MGW45O%\'VMVXVY\MV62IZXR7G\YK./D1!TH*6A"N86/CLEYNSDG<;"`4M*%4 M0US+MV;]PDO(I:IL5\[:?(I.N929*R]F'[HZBI+EVUN7KCH(BZ5K@FLFB2(V MG*YGF1?&"$`_*9J/G(H,)YJ2")1,>AW3K5L__H\3UPCHX0;J+?1HH?'#=$J? M]KCN5#SVZ>>^0[MZ9YQJ^X,TP4V?63Z$=%A1.,'C:-)"6F:B;MY0GLH%&I20 M;-5Y19>&2755WW0PJW07734=?;R<3H+W0T52=C=``\.,-CMCRDB/;7I*OK:K M*M)Y65G=7"KH.H\&.I=A.74MC M^O>AJ>#+*$]FQ76%R`$,50NDO':;MIL/-H-%\BSF89_HKIC[J,D/A=M%]=OI MVSNDIC/],X\IG3/'MRZ1-?6A[=,%$&S9!W&GN-4-L9FF='GC].WU=JCUK[H.%K,M MD<@;+Y:MFT[0HREJZ+6^DR)$U?4(^/H5SC,?)QQO<\E,2+'*B.R,C#L M([*F5D-M<8>0L<7[-]NB?9H"T$MTK#@%+'%NQ?%`@'3_`$3+CSP="`X#3,&T M<[%P86D9]37!F:ICCS61V,6K\OXA#: M\YLO2Z9#NX&8V14+H=U#!J-=C,D!MS5&.:2),1-HYZ91>)N'Q+-'2T;&Q4=( M;/EY'&J6J*RA<=YT=ZM/:K5>3*_8J8K]!VH4(+QC!Z4C%82!$W M)R`"1E9UBBF]^5NY7PZQG5M]::J6DI>OBY&(E]S%,I2=;A@G6Y-"6J>5T9V_ M,5WTZ9U_R4ZK2NA`UEP9B[/IVS)EY%1I?8\C#[.QF#1RN[=Q2Z+Y_M&LU/GP MHZL7);W=T^\H_DFYZNH&\;7TZXN4=HD7&H;()!;"MENS)F+$@-.D$Z5-XE8R M0;*+/()#3Z(JQ`V'AU9T[OU)(.ET%'7"=P M?%O[HN;U>/*MZN<"IK$/[AMM6@`ZG"%X*#9/BXVLNXAY*%GBR>FHX('@V&V0 MP\?$+MVFS9,%=-EM-'&D6/HTU8TP5UR5CS@TF14=G=X=S$0,SH9,Q5[)D2+>&F) M&-BUYADHD_U8(([*ZMU'7>=''JKVH6L?]B=:4&IQ?>,B'<_EG.UT)4S1G3NVW4] M<$X>]E%>^S7H7V/0HKPXY=W[4\-4[FH)3H^^UVXQ'P\+2<4G+('33D%DI+/5 ME*705VTVB&^F-7^^F/[IZ[[3--WC$LED&U`>SJ=(^ARS4VY0YMU(.<[/".>J M]H4IL\J!XOHJUC"&,RCH*XM"*GJ\9$9TN_ALZ,YK$5).([[]VKAFXW=/\/V2 M58V4UYU]4/;U4]8<@]:E)SS')V'5(]-5]TC.21UT!;!E<4,2?J#8LM70V-!D M=F9NS2*#(WS&/BWFT?!C66S-1+=^WPHQ\0K:C0_P?J4Z!EZ.]C?'=A6-2S+G M?L&^;0Z1KFP!3![+W+`6(4FE5F`)%F@I)Q(\%1XB,.JN;YDDV,G).Y/Y]M$E M6FN/JR@[*I^205^$.O.ACCUS-NG5:1`*]]>\X+6#*RM4G14=$O0%K5RR%68' M+1<1.5B!LZR#-7L5?GX:><'4[9W//(E#4/;R`'H;4[7L!7#Q]6Y80&(M.,Q1BC%1\ M^UDB<#KJ69N9ALWPLLQWC]]&>^V4]7+C&/DS2-UME.?;CZRE/8L-NG:TIOE!! MBHA>RJ>30$]Y"[#.NV/7-U`L/\U18QQ]7QZ)V(-IWG:+V>(9*X*\=5L7.@M7 M;F9K'NV(2R6UD(W#Y1@I.*XRV6Q&:YPYP)5&B!^3>$_9KP6/6/RQS?9G*\[S M*4'I&7U;<]HMSUW<]+1I9JV;R;=6M8F"T#+`GHM-GHY9HNI-&/QN@>+/8;RAV/U-<7'Y'S%9U+=E$;&P#<4Z*E+"&)JN;);)NLOIME M^P1N7TGH9V\G)#?#=%1'9RVW1;J:M]FVCI<2II)[1LM#,;"&:H81_P`0&7VK M!@:3?5!FG*536A.?,(+Z4T4\-6=GS5>!LT0)XUSNDUGW,8S4SMJ@\W3PDI3) M@Q;GJDZDZFXCN;G.^5N8PVX'75YEU=05GUB?6@6PD&1W+NID,PE-")Q9%GQ9)9XZUC@1,@BS=8O[8UL_GZ3YZLFH1\.I0%*#FYGB/.!NW@AJ0)R^ M'K"'!(P#L0IE3.)>-6Q-*/DI)C'O,.V[5#9/6,\!-)+V?:&]?7?[4K]0Y!.; M\>2NOK8!B8&*LQ-I75`;'T,2B0E4K=N/LWE#DN-9,=KFOF$CO(.7+1*5FW[A MOAC'M6R:[AZ%7ZWD=H7B+V$"5L^UBV:T+N<:J,.ZX:L-J4,XBT;'*YVI2&GX MB=$8G3$^<']']-/9P]OL_)#YO'2>IH1WS)6D\0 MD+X4)'2JT_6KYY4T_;$C631J.:[/&S&SD85PM':.D5-=-$-&L-/>U3>0\YJZ M0..I:&]LWK:GZ'J4 M6:7'5@;+2@03.)2%JH833I^W9B:T?Q:V-7Y@_P!H]PLZ_KOK":Z^`FE=DCBO M+/7XG[/+Q[;1&>;9.L[+H9K1D"+J7K9\<=,T0]TRGQ,LET->9I$?15)IF$0: M2,>B]7Q$-7:CE%U([MM6KH*HD9U0?IF[.8\=5I6FEA<\AW2O+W8KOKWG@Q&S M*PC*N"25FI;0AD!6PF4_3@?,##B"FXUBLP>LTIE)YA+9)=!OC?*F$+V5^&@] MKTM[,.EN4.BZPMV"X9&[$NRIU:;'H0+*;FC8H993S.8;%)\36?(`9K*RGP*O M=,Q@DT@,(:XSNJM._7ME+P2I-2D(&O`G+:$8N,-9-=R[1SNQ?O56.J#A%MH_=/0J_7TFJH M.%.G*D[_`.PKTCSNGY'G+KJP>?[)(7#R1/-[Y&W-`,Y&3B`B&'T!UH!)P,\2 MRV[%R^7FG2FD$AKIHSPNMG*(51+R?__1]_'@!X`>`'@!X`>`'@!X`>`'@!X` M>`'@!X`>`'@!X`>`'@"R:_AQ;^,_C,]^:_AW_"W7Y;_EG_?_`/"_7X!XAZ8_ M\+2/_P"E'Y9:'\:__&#\G+O]?_T]_P"Z/\?]WYDZ^?']/:_5'\6UK^`?@`=_ A%'\6_CL=_&O^0/\`DW_3OA\T GRAPHIC 7 g593175u44053_bwlogo.jpg GRAPHIC begin 644 g593175u44053_bwlogo.jpg M_]C_X``02D9)1@`!`@$`8`!@``#_[0T24&AO=&]S:&]P(#,N,``X0DE-`^T` M`````!``8`````$``0!@`````0`!.$))300-```````$````'CA"24T$&0`` M````!````!XX0DE-`_,```````D```````````$`.$))300*```````!```X M0DE-)Q````````H``0`````````".$))30/U``````!(`"]F9@`!`&QF9@`& M```````!`"]F9@`!`*&9F@`&```````!`#(````!`%H````&```````!`#4` M```!`"T````&```````!.$))30/X``````!P``#_____________________ M________`^@`````_____________________________P/H`````/______ M______________________\#Z`````#_____________________________ M`^@``#A"24T$"```````$`````$```)````"0``````X0DE-!!X```````0` M````.$))300:``````![````!@``````````````+0```+$````-`'4`-``T M`#``-0`S`%\`8@!W`&P`;P!G`&\````!``````````````````````````$` M`````````````+$````M```````````````````````````````````````` M`````#A"24T$$0```````0$`.$))3004```````$`````CA"24T$#``````* M9P````$```!P````'````5```"3````*2P`8``'_V/_@`!!*1DE&``$"`0!( M`$@``/_N``Y!9&]B90!D@`````'_VP"$``P("`@)"`P)"0P1"PH+$14/#`P/ M%1@3$Q43$Q@1#`P,#`P,$0P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P! M#0L+#0X-$`X.$!0.#@X4%`X.#@X4$0P,#`P,$1$,#`P,#`P1#`P,#`P,#`P, M#`P,#`P,#`P,#`P,#`P,#`P,#/_``!$(`!P`<`,!(@`"$0$#$0'_W0`$``?_ MQ`$_```!!0$!`0$!`0`````````#``$"!`4&!P@)"@L!``$%`0$!`0$!```` M``````$``@,$!08'"`D*"Q```00!`P($`@4'!@@%`PPS`0`"$0,$(1(Q!4%1 M81,B<8$R!A21H;%"(R054L%B,S1R@M%#!R624_#A\6-S-1:BLH,F1)-49$7" MHW0V%])5XF7RLX3#TW7C\T8GE*2%M)7$U.3TI;7%U>7U5F9VAI:FML;6YO8W M1U=G=X>7I[?'U^?W$0`"`@$"!`0#!`4&!P<&!34!``(1`R$Q$@1!46%Q(A,% M,H&1%*&Q0B/!4M'P,R1BX7*"DD-3%6-S-/$E!A:BLH,')C7"TD235*,79$55 M-G1EXO*SA,/3=>/S1I2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V)S='5V=W MAY>GM\?_V@`,`P$``A$#$0`_`,+ZQ]%ZJWJ75W4]-R1C#(R75N919Z?I[GN: M]CFLV>EL_L+>^O\`TO.R>K85^#@W9#'X%7J6X]+K`7!S]N^RIKO?Z>W^PJ'6 M_KI]:L+J74L:CJCQ7B7WU5!U=!(;6Y[:]Q]'W?16S]>?K+U_I75<6K!Z@^BO M(PZ[WU[*G#>7/KSKW5*_K3UGIN=U:RGIG2\=V2VUM6.+(VT6;7/LH?6_9Z[]GZ/W^Q;'U M!ZIG]5^KK,OJ%QR,@W7,]0M:WVL>6L$5-8Q=X;15ZM58#[JG_HK?0N]-B2GJ<+J.3TK%?^W\LWNORO3Z<_TVMMM98R MNRFG[-B-]U['^M4_V?X/U/YM5>M_7OIN%T3(ZC@3EWU6'%%+F/9Z>1K[,UMC M:WX[6?\`";/5_FZ5F=:S>OYE>);5T>TXV/G5,KNLH99FU5UL8^WJ./C6FRFN MV][[*\>RQC_L_H;[:O5M_0X&;]7NO6])^LN,SIV5ZMW4*FS^=N?B>E]IJJ;^_;5_ M40[?K=]7:3B;\QNWJ#/4PWM8]S+0-'-KM8QU?JM=[/0W>MOV,]/](Q88JZA1 M];C]9KL'*^PYW3G8S*@SU+Z;&N9;77=CXYM])M[*MU?[EMOZQZ*Q.E?5[K?3 M+/JK5D8ESSA7Y.1F>FW>RAN2YC*:R]IVNI5O_`)S%]/\`PB2GJ\/ZS]%R[F8U-[S?91]IIK?58QUU,;O7QFOK9]HW M-_T'O_D*K7]?/JG8VM[RGUCLQ_M=U3'U8WK._F_6>S]_\`FU*WZR=%JS3@OR(N;8RAY#'F MMMMFM./9D-9Z%=UOYM;[%RV!C9G3^M=:Q^H]'NZIT_K=SRIME;C/J,HR MV9+F-QW5.V?TGT_2?2JN%T+)Q\_JO2NK]+S.H4YN7]LPK:+7,QGEQWSE75VT M-H?2X,?ZEE?J_H_T-?\`,LO2G__0CUGZW=*HS>H8^5]6,#(MJMNKONW-W6.: MYS+;=WV7U-UGTOI[UK?6_P"L.#TSJ&-CY/0L3J._$KLIMO<"]E9+F^@3;CW. M]KVN_/7/?6+_`)C_`+1ZMZ_[7^U^OD>KZ?V?TO5W/]3TMWO]'U/H;_S%M?7; M_FO^T,']M?M'[5]AKV_8O1]/9N?]+U_?ZN_?_824]1]1\[%ZAT/[7BX5?3J[ M+[9QJG;F!P=L>]GMJ:S?M^@QBCD_6#-P\OJ+/39D58K[+3O?Z1KIIHZ=;977 MLIM]:RRS-NL;ZOI_\8A_XO?L/_-\_L[UOL?VF[T?M.WU8W>[U?1_1_SF_P#L M+9N_8V[(]?[-NVO^U;]D[=M/K?:-WYGI?9/5]3_!_9_^#24XU_UPN:X58^`; M[QN9:QKW.VWU>H[)P_T--OZ1C&5.99_-_K-;[?21+/K!U&W+JQJ:*L=YR:VF MNU[B]^,\V-==664NQK-S6UOWXN3D>D^ST,CTK%=S?^:_HV_;OL/H_:?T_J^E MM^U;!_/;_P#M7]G_`'_TOV?_`()1'_-6E/K[_P!5]:/\/]H_ MF-_O]?\`X1)3GM^M^4RFO*R<*MF,^JC(<:KS98&9+;GTM96ZBEK[6.Q_TOZ1 MC/?^CLL3GZV9HK<]_3VL]*JS(MWVO9-3/LY_0-LQFVV/=]J?7^EKQZ_4H_G/ M2MWK:;^Q_P!'M^S3%/I1LX]_V+T__!?LNW_A/253#_YJ?97_`&+[!]EVV>IZ M7I>GL_1^OOV>ST_Z/ZGYG\Q_P:2FE;U/K#OJKFY9MJHZ@RZ^C'OKA[&EN0_$ MI>YEM8;^CC;]!^_^<_D*O_SGS3U$6!];<48QI.*Z=<]EV+5E,;935DY3W8_V MO[,RFJI_JW>I_P`8MUG[$^SY6S[-]G]9WVR-GI^O+?5^T?F?:/4V>IZGZ3U% M#*_YN^B_[7]C]']+ZGJ>GMGU*_M6[=_W<]#U_P#NSZ/J?I4E.:WZVVFNO(LQ M:J<8M;ZMEEY!KL?7?=MF^S?ZGZ3^8_P2C_`,[GMVOV M;8]FWT?6V_\`!>JL#J'_`#/^T8_V>?1VMG]G^CZ4>JV-NW]8^T>OZ?J_LK]> M_FO7_P"TZ2FYC_6O/R:Z74=-WF]CKZ]UWI!U+:AD-:[:AOECA#MEK,BG&NKL]-[+-CZOS_P!'ZE?Z M15\;_FMLO^R_8=GZ7[1Z?I1Q^M>MM_D?S^_\Q6^E_LO[&W]D^A]DD[?LVWTY M_.CTO9N24__9`#A"24T$(0``````50````$!````#P!!`&0`;P!B`&4`(`!0 M`&@`;P!T`&\`PF`1MGA\08[C?BV2,Q]$2VLC.0M3H7(] M(U-R<($K>APL6F"+()"`DD(N0L(0!"'&6=ZZ0R7]L.$(_9`_`&$(P#UGM$(@ MBQ@01!%*JUP((@Y^<""+&?C.,_X\%LE_46U[5X-#ZV]BVWL)@$;9X?$&.XWX MMDC,?1$MK(SD+4Z%R/2-3"V2_J=^%A"L(,,D`JI*AI]AA1!%%B;"/>TL,.<,*"IC!B8DT8#,ASR"QC(#9KL\30*9"QS")1)P M;7-4WKSCD@L$JVW*HG"$A*`V'I)'98)P8CB+*\IW(]2Z2.*_02D#V7E,40A4'E)PFFJ` M*RDPL-),)W@0G`$X`4#[:-ZMJ/7K7#-?E74M4MNT@4NC\5G1TCDTP:)W$)7( M%SV2@=SF]K;\L2B"K.@@0A/PI[PMS5A`(G)0PF!C-52>.3T>I3?:]?8M53[? M,VA]%P6N6]_D4!(C4#DDU?[';YVPYC3CD,I(>D":/M3,JCCYA24`HX]4;@\@ M><%@R+`B%DE@RD>VCWO>=_'G44NJ]8'6NX+"(/<=E6PRS*T.\BU;SJ;2".,4 M1-9E4?$27M1(1CRUC3EX/$JP#Y+P$*)&Q<4R3@"<`3@"<`3@"<`?_ MT'$[7>@O5+:W8NV]BI#N8_Q-ZMN6*)8XQQF!6ZUK:%"A*E2Y2(E2USPK/)"% M+C.!&8YOG.>)!M6:406-ZY_3-`=`-QFN\:AV5;;BAZ^EK'@TQCTBPP()>T.S MN^0=T8GEDQ&U:Y`Y,)B9F5%+<'X3&I#<$B!D\)P\$(#M*AHKG:[T%ZI;6[%V MWL5(=S'^)O5MRQ1+'&.,P*W6M;0H4)4J7*1$J6N>%9Y(0I<9P(S'-\YSP@*S M2B"R/7+Z9('H'N0TW?3VR;?[35J\:CC3.BG(7K$QAAB?HJ#"2AJ>VM<[O:YF*9FM8C*3G%D&& MEF"2+3!N2X54^0'_`%L;\;:[76GO]H)/MG)/*H]75173)*8VGB*.!MER,;+6 M-IQNOBE3/*6%@^GWT4WC\M`J)=S2%#@A,#UD:H(LDC)%:2AP"U^V)A,JD\JV M]LLC8*Q:HC-6.>N4OL6+QM)"%\;MYH$.^'12WV.NE<4D4C2MC4F9%7P8SK&Y M4(#@HR,P8L$Y+B+?C`?N@VW6T'N=V$W`=FS8BU]5-=J/9(Z@IF(T>1`F>1`> M+%V$GIFW*L8"RA$E@SU[LRTJI8R#+17M[V MIV-T`W5C4TM]^KK;_26,)+:CEQUDT5\A#<,21OJN$.K#/8N^09ZC1:=E>G9/ ME4M;I!)Y@KM"@GZ_9!XTHW?V"TCOUR20IHFI4T:7 MHMZ6E)FB)79KUF1*G3)K@L$G2(6YUAS>^DG'_(#&!?(/B(W=2DT'K= MUZ[XUAIH][LZDU1/I!>/LLV<6V&\R>&UBKLJ?U7JQ'H\9%-8XV@CY,7EC2B4 M/U8QU$J3.:]O5D)#7Q1RE=XH*&32)*8;PBN=Y]]MD_6SMYJHQU)M39]Y0FRH MM&W*^J"V)D=768^Q-W42I(V/,37/T0AT;?H(_P"6M9D)>2\EF$KDHC,]PF&) M-@$DTY1M7O9W%W?TMVWH]FUQVFG<=B%YQA.^J:X>V&MG**1M^:94GC!B5D,L_D,+)),52:S;KV8>L3?+6HRP]PS=AH M'=3=')7.J[*JZ*P>LTJ)1-\Q:<5W#XL4XO#JA2,[82F.:'O*U(YC-.QW(CLX M5==D)5:>`W+-W[O;;SVZ)?6I0EI/=`T75.),;>EG5VCBZFVIX\PB*#?Y'&XU M()8S2!'"F=#*5"1C$-$DPX=0I6H$<,H1:<#F"0E7N>RE%N^/LM]=$(]C#IM- M&IC:5355-SX+H[;%V-4=;G>=2.3V*ZQVN^Z>(DB8,V-&%-:ECE3H/EP>F-;! M(>NE&K"62$)Q`),L]G=_TWI+K)O"Q>QMDNS;::W``5^Z>.LWH%SA;?4[V.?& M(V<%)0YC1SNOU#8BBC&4I7DF)U9!KP:/(BA9`',DO:I:C`UO_P"CG2W_`'8\ M?\60[_7N+).QG__15S[9(E%X-[(-PXM#(^SQ6--ES/V6Q@8&],U,S:%>G0N2 MHIO;419*1"G,7+#3,%E``6#(\X"'&/C'&6=ZZ0QS]L)_"V2 M_J+C]LD2B\&]D&X<6AD?9XK&FRYG[+8P,#>F:F9M"O3H7)44WMJ(LE(A3F+E MAIF"R@`+!D>]N*9I>7U0F3#4$I09(9X\WNKVY'&*%``!*3)CC1"%CX#GC1Q M.!'USS'-2>YF1;46;!+CA5%R2RMI)`AFSI25M*P)VRS4E@#AIS@S,D-=7U)E MS,>DI8\939[<9OXV0!"(0#093'V> MAE5UW:%G7=;UP.'NE#7?L+JW8R^M6:?F\I::/H&,PV46=$I4SMT7=6RC[%_3 MM*46V6L[R\925T=U1PE:DUS.-3J##$J0:/$Y+CMQLU_U"(II6OMVW-8Y;05N MUTXW/7>R-;Q:$?IRN&37KM/;F@$X8D4S7L)2B)1.(L,58S\FN8%0FKX`2!*8 M=D],$TMEME+)X_0G*K!UWG.XNHTYU>O.46ELDHI>N!1H,>=H5'H,Q19SM.,V MY(;2G3@T+PP!GBL2LH;B0?A$L&X*$84:<.3U)&9%7]PA-NL-0N5F%`'!7MI2.#QS:B[:\L"O'C;&ORZ)USJQ;"98XSZ9'R M:8%V.[/:R,MC,H>&1D/+BY!;:L7)DQ*HI,J/SDLD20:J=2MJ:I<%^Z:R;,0_ M;_[R4%*(E9;'<+C/Y,B9H"NJRQ`OC]^I377X(@J9"BHT:2X(EYT0=0'&`'^3 MR@&)1@H!A`CKP1^Z8T7]LXL41O26?5%*F&71"Q(M>TKEKM&I=#I/&%/TS+HU M"TL?>D*I[:4*!R2+EK`N(R$@TPTDQ,+J@`$18AD2^Y`#]RGJTD]I^UG5>456 MC=6N+[RR%LB=D/;"2IP*(RFM6U/FT)*,U)TRD>'"CT/E"B1"`):I:G$>19QD M>0FLEK;Q?Z"[_<8V#MG0NMVN-9ZDI9S`:%>CI-"+2?:B"^)75F01EBBC95]< M+G9B("Z1N(/C.:[8R`M3RN>6_"<[(0%X`I,E(ESL0%["8["GF/\`KVGNM&EU MZTW2T8KUL8)!+9/3BR/N=L6RWNL;D$Z=?*%`.?;%=@A-``+^XX*`[G8.*19$ M4C-P5#:YEY#>]_<^4;+[0:A2FIZPO-W1UY6K0[3Y"X4I9+4[PXZ4RUOF#:PO MB!5'<")DA,;P6I5HBQ&FH\G@).Y#\&%`,S7">3.?N&I+^OFVVHKS3D4LJPF* M`5?&9'*WV.U98RMK:V^?2!GL&-EB/S&`#/<3X:I3KCDI8!*$H5`"C@`/YR@5 MBNF8C85FNKUI>X!I]E<=K&PKFU*V&D3K:"*70^./(P.D)O>*"S,(B[IS$2(< M7FT87OXG-F;7G"'+D!$ER(0185X3N0H=8G(TWV`R&3^Y?1:TX?JG0-T"C\#; MXW=,&L.UXVLJDFQK,B3ZB1FU/6D0?P!>9RI5UT]20P]X`(IH3/*1"@*$J,6& M'(&R+Q:E@A>HSV&L%/:Q1G2.SM(+ZGVV552"812`PIDI%.%1/D[_`#!UD#K;EBB6.,<9@5NM:VA0 MH2I4N4B)4M<\*SR0A2XS@1F.;YSGB0;5FE$%H^N?TR5GH#MNV7I4.S26X&!; M4-BP28QB1E1U%)&U2].T)=6-^8S(TM6)%C24%B4DK@*`DC)&80,L1F!&!+0' M:5#15VUWH+U2VMV+MO8J0[F/\3>K;EBB6.,<9@5NM:VA0H2I4N4B)4M<\*SR M0A2XS@1F.;YSGA`5FE$%I^N7TQ5MH)MRU7C3VS">XV-PJ*Q(#+HK("8\DDR! M6^.\)=&%\81QE:M2K6L&&)20N+4`),)&80(L1F!#"6@.TJ&CHLF-+3%?")2Y,X6IY>BU$97NK<,QO./$G M5&I\A$!6H+QX$)P!.`*PI6W8;?M25S==>'N"F#6E$&.<1-0ZH#&MR M.89"B*<&XQ!4I<&\325-\% MATLF[N2M4M4-C+]*G-.W%D'.![?'FM4[K24!2E0C3&K34R,02@F&E`$/.,"& M''R+`@'-1>Q'7RY=(GG?F/?63/2T=B%BS!^9I,U,:2QFDJLU3TE>6!4P-4D> M684F=ALV!-B8IS,"M`M2YP8'K8Q@6',H4*4P"7I$R/,A:DRW!B46#>R#<.+0R/L\5C39ND,<_;"?W(WS^FBT/XKK7@MDOZBX_;) M$HO!O9!N'%H9'V>*QILN9^RV,#`WIFIF;0KTZ%R5%-[:B+)2(4YBY8:9@LH` M"P9'G`0XQ\8X,M=(8Y^V$_N1OG]-%H?Q76O!;)?U/T(N-'$YB:5INL[VV8@, M!MV(MT\@QWL0]W#NY0Y]$I/C+^>U6K$#D*.3LA9Y3?)V0M2()PV]>6H0G&EE MB,*'DL/Q#;_Q`\1.M.LV-I(5%M,3N1EVTM:0Z-D MXRCP<9XR,Y?IBU(BLX#E,D$206/!(08)%>7_`&:;):9CE+VA=U+RNW-9:;M3 M7>TM:HGJM++&C-P/FYJ6IH#7%0(ZH4:ALD(>CU4NC,]E@)`6]L[`T.XW61.# MOEW*.&85R!//`4M9L&L:+>`B`G)]9-RA[#[.;20*;83)I_7^^5;(9ZT6<^3J M/[55B[+1([GUJ@J9D-84A[^B:VU,E$TKVY(8,!.<"9CH:UH?K_I?=[%ZD(&5 M`:7LB,%ZK;B2J]H4T"97QA5;)MC3H"AE(+HC+0L-;W2PD#6H;S%S9("#32\A M1*#",#+2F!="MOR,!#Z7;:BH_P!<5JZ[QD#;L[*[BW2IYJLL9Z]YL&4LD7I7 M<&)U=7;O(7$]:YKX;'/H&/IVMGQG#>V^/)RC()$'&>'03/=.@3D9$1SJE/)' M`[BU7Q-G[UI['MNP=::_L%QN=W3ET#!&)U<)+NNK?'F4M,:MV%V<0<`MYDQ3 M0XN"QR7(D9QQ!Q";$+S]A9>SW5FB:K>=RZWK.I(RSQ=/ZLD=Y*VQ(V&.JUVM MZ!;(KV!IN:2.B\2]ZD=EM$4DSL2?(EYZAS,3*C\GJ!8^!8Q3.9SL03JS`)2@:-'M(6AA<3J/WHISU_;P2UP+`:5&V=FU]H*&*]G(2 MM4@$)7D-E3JHJN"<05\%G?6+AU!EA%@(X:?+Y0(0)-34FTTU(K>RFO7"&/D/ M];X9/&;0VD1659KC)#9M8-C-J>#:>4'');%F!VO-(\Q1-EQDZ,PR0("5R$L! M!Q)(>47,N.H93W3=47SKKO[=UJQ9NLNRJW]36I=FUI/Y$O<7AXB4^3:=69/T M-BQ=<)>(IOFF9/'T:O#R3C"\P(!%9.$0::68)+32_956R-EU?*-A7:R1+->Z MDO"OMR=-HAE3-E-G6#O?8GAYEKFV/T_B4F531O8=8-8G6$RU?DD12%,Z/CC3%]!3('F4M<8MF$V&2L`6]2(IF< MW%>YJT24X].80F#"\_8<.]VN^I6ITG:4Q,KUEDKI6VIAZU=KUN4KLB%RFVG- M//I-.))>6K^Q34XDN"#QFE-H1=F0(O(J93;_DZ:J[D)DN MK^#2LYA>XL=)X=&9";&)+D\4CCACTRHG(QA?Q*1"4B>V@2G*=7DS.1Y/+%S9 M^?GBF#<>`/_4T_VAM'J^/]@6U1MQ6!OJV6<9:2\4S;ZTI_7I]@:5Y\:V=0J, M.\HO*.R!>V8)Y,A,5H4QN19SC(,8QC.\XN[;PWU+V2;R70['SGCN879]]T_S_9<_STNI]SY^>7@#ZV+Z:Z;C M],^"Z/EEGE_!=AT_.\I/?^1\?]WRW+T^MU?QOCEYO\N`,[P!@VOZ:\@]^%\' MY7N2?J/Q?8>0[SD'V_F^T_,]ST^;DZ_W^7Y^/L^>`,LI[?MS^[Z/:=$WNNYY M.W[?D%UNOU?P^CT_GFYON\OS\_9P!XF;PWBT7T]XSPO1QX[PW:^+[?YSR]EV M7Y3H\WS\=/[OSP!D^`,2M\%Y-F\AXGS/.O\`I[O>S\GU.T%Y/PW7_-<_8?/7 MZ'V]'YY_N\`9;@#$E^"\TJZ/B?J/QZ?O.GV?FO%]8WM.ZY?SWC^XY^GS_A\_ M-R_;\\`?@\O$-YSJ3HM:_IKR#WX7P?E>Y)^H_%]AY#O.0?;^ M;[3\SW/3YN3K_?Y?GX^SYXI@^;M]/=9H\[X;N/)D^!\MV/6\SRC[?Q'>??\` 3)\G-R='\7X^?C_/@#,\`3@#_V3\_ ` end