0000000000-18-022534.txt : 20190313
0000000000-18-022534.hdr.sgml : 20190313
20180723151034
ACCESSION NUMBER: 0000000000-18-022534
CONFORMED SUBMISSION TYPE: UPLOAD
PUBLIC DOCUMENT COUNT: 2
FILED AS OF DATE: 20180723
FILED FOR:
COMPANY DATA:
COMPANY CONFORMED NAME: OMNICOM GROUP INC.
CENTRAL INDEX KEY: 0000029989
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ADVERTISING AGENCIES [7311]
IRS NUMBER: 131514814
STATE OF INCORPORATION: NY
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: UPLOAD
BUSINESS ADDRESS:
STREET 1: 437 MADISON AVE
CITY: NEW YORK
STATE: NY
ZIP: 10022
BUSINESS PHONE: 2124153600
MAIL ADDRESS:
STREET 1: 437 MADISON AVE
CITY: NEW YORK
STATE: NY
ZIP: 10022
FORMER COMPANY:
FORMER CONFORMED NAME: OMNICOM GROUP INC
DATE OF NAME CHANGE: 19920703
FORMER COMPANY:
FORMER CONFORMED NAME: DOYLE DANE BERNBACH GROUP INC
DATE OF NAME CHANGE: 19861117
FORMER COMPANY:
FORMER CONFORMED NAME: DOYLE DANE BERNBACH INTERNATIONAL INC
DATE OF NAME CHANGE: 19850604
PUBLIC REFERENCE ACCESSION NUMBER: 0000029989-18-000004
LETTER
1
filename1.pdf
begin 644 filename1.pdf
M)5!$1BTQ+C4-)>+CS],-"CD@,"!O8FH-/#PO3&EN96%R:7IE9" Q+TP@,S0R
M.34O3R Q,2]%(#(X,C0Q+TX@,B]4(#,S.3DX+T@@6R T-34@,30Y73X^#65N
M9&]B:@T@(" @(" @(" @(" @(" @(" @#0HQ-B P(&]B:@T\/"]$96-O9&50
M87)M7!E+UA2968O5ULQ(#(@,5T^/G-T,C17,% PM% P-U&P
ML=%W2BQ.=%#(, @P 8!0VPPT*96YD)RE5UMSTS@4?L^O.(_=F<98\C7[Q@)E8&>!0G<9'A5;
M3K384BK9R>;?Y*?ND7S!<1R@0SMI$UGG]IW+=_*X>(0P]<'^IA'$*XCC!+(*
MGHEJ0^"E@OO%_>)Q\4> $\5(MG=P0(*BH6-[\]_#NY%%)O92_-/*(I_NT?H>F1@2 F]@:)
M/3JQ\+8ICT"#6Z ^23O!>8];KZ]%\]3S:?31:N6%,]%_UYWK*BE$:>B1B<(/
M6U&*'3R7&UXR4VMUB925C-,+F%[]Q[.F%GL._XB,PP?-C%\4>$G/*X_H19;?5U)DJH+76C4[>",S;UXTB"\@"H,$_F*Y,$K"
M\SV7#9\7I7Y;&R/1=_P 7Y3^>@O].R"^3^F, I<@/_:2IR;H+"G$3[TD@G 5
M]F'07M%'_ONE61(0+R:S]W\&L5X\2?O0!_$[I2MT9_DG%$I#O>68/)-AYKYP
MIN&5S'D.+WG&JS77$!#7',EU"S'UXJD%4:*..[[6#=-'(-%9@\WH" =T+[R\
M'[R\1V4U[SU\VT@.@?\CS8'OI;/>N=8GR8_D2=A.G(D\O%,>^#Y9$C^*R)6B
M"?T!FI\KFFD7!RO_HEU>VB3]I;U1'\]4C[,?).DO68_#BTEP&OU\YK!E.!,T
MWPM^0$B/JM$GEQ?:X7K"2;%3TG"H%>!3P+*M[. H>6U3:>>'TX'Y/1OI:#U<
MM9F[*519JH.0FU[:>*?3&PE&51Q4,=9K;N' H6)'8.:K]MI@T6E36X=MF(!#)RN5:32?&U<.?1I<
MC."GX>^O+K(_QO]#R9FQ\%N(3X!A*ZZ\K\9@0;8CRS?"^,@9083@8?X?Z>,$6MLCL,635KT
M#Z(L>P=MT@IWFBN0JD9D2\$Q]PCGU&S:#>R;(1:VVV&_8HP._8)E]@RCSH3.
MFLHF)N.8_5V+2JK^))@=L/[#KZ^9(4S8V_F2&&?;)UHFQVB6U?$'Q<;OX
M3H,G:?JT_>$L^,1V8;6@:?]^/G*2="O2W-DT^G=8&JX"7F#YJ5+DK+:DQB1"MV'*R['7:?/G4U=IAY\Y&[-PT9G
M&P[QV+7>UIGT_?S^[C)/S5=:]5$Z!+T\V3S&UK?N2E9/[^+,V>S8V>
M5.NMYMP[P>>N\>VL=:)X88WC_VRZ]R;)RJ/MK*V89)N6$83.ESOLA2,8KO=V
MY^](5!O 6;_F6U86EGLS'.%V3K0TFS>9-29KZPWV5(X3?L_UG%D_]-+.+,\%
ML[=;!8YA.JL=8;L!]NU,2+3& EM@URSX]HQ$PXT4.M2;!Q'>:<9H[A-A:W-
MCCJGFP$JW?%,X/>7EEM4M=,M-L2(2<0%IY_Y ZUE)=.B0$IK>10W0=G5
MTO^CE18)#0IE;F1S=')E86T-96YD;V)J#3$T(# @;V)J#3P\+T)I='-097)#
M;VUP;VYE;G0@."]#;VQO7!E+TEM86=E+U1Y
M<&4O6$]B:F5C="]7:61T:" Q-#(X/CYS=')E86T-"GB<[<&! ,,@?^K=
MX 15 0
M
M
M
M
M
M
M SP!1E;J9#0IE;F1S=')E
M86T-96YD;V)J#3$U(# @;V)J#3P\+T)I='-097)#;VUP;VYE;G0@."]#;VQO
M70A2(8E$X=OG3K181$1$1$1&1'TC*
M%,_/SX^/C_?W][\.W!W93GIZ?7U54%#1$1$1$1$1"[F[>WM
MZ>GIX>%AO]\W L6O7[_N[^_CJ\=SB/*_?_]NJHK*D3)>7E[4,41$1$1$1$1D
MPL?'!\85OW__QJP"F6*_W\>6V'X3[P],.(*7EQ>$D3Q6_(U_TR3CAJ6Y^?G[4H%HD3_><['@9>7%[Q1L@'[_?[AX2&V
M7WY6(B(B(B(B(O*/@U<(+B'8/#P\/&RQ>8@"V&9D1(O\'#5\?'SV/?Q\9&O2*B:*D?4,)10&A$#XY OZ2 1$1$1
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M0H"*B(B(B(B(R-\/P3!9^#>J17J+D)P4"8(M[^_O*1=DFKI*&'!PHS3 R_N<:>5[1^&%D41$1$1$1$1'Y&\!T <.)H1M%JA#I
M&,)*O^8'R5B:*2^D_M!H%YDNA$H(G<&_V&_U1#+N.^"JKBAVQE\CC
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MED@.2 ?I?U'-#V)?\G&0#:39,;9$R31FX'!1V]/3TS7^%U$M@@9966OE3HIHE
M[(Y)44GD$555#81 FK$%2XGXB^=(%+AYP@XL.O)P-&:_WS\]/65[D%!^'4#9
MR&:GA$+LCLQ+PG8RKI)J)(^(14>0*46V^SYD3(S]?I\1
M+=(&(^I)4X=8\I.N=&@%\0TTAA;1VMB2@LGS\W.T)TX_G5;X*OHD=L$_A1U)
M94)XC3Y>J/*%B(B(B(B(R!<1:VV"5Z0A 5+&? T>*W1V@7MC!,A:&=J%T\'".5!(I6W UD)^4K,G2HB
M(B(B(B)R0S(/2%I;^F,3/S!P?N?Q?CBE%_G[S@VAP-)LXG(V"P<;,E)K:!?(%ZD2J%K$%
MCYCL0ZTO1$1$1$1$1&Y"+,R;&!<9S"'_C75Z+,GC[W!WEO 9 !-/$Y;MUV0,
M^4[B+-(&(^U&V-@$YT2I('HG_Z;924"VULRT@GQ!6(P_=6HB(B(B(B(B_SI]
M<$Y6W-@/U$7]T'\D"M>8&$2JK&XC_Q893;3&Z^ KNH58G1F5-,ZTFE70F;$Q
MMV">L3%IBXB(B(B(B(@TH$O$RKIN?'M[R^RE^$U4ZL*\0L0,1(]_>IT>IX\'
M#>E%ZO;T :"0:DK&FV08;T7-J*E41$1$1$1$1V0)KZHSG$'_3I@+[@4:R
MB(V$L.AM*O"A^$FQ':)S\ I)DPE,4,@MD@E'4&S0)1 ]D#NBBZKQR>/C(P8;
M?_",1$1$1$1$1/XM8EG]ZT!Z1F U0;93@F 0@9/$IJS?HS#_UJI(&/JOFUOT
M9-+8^%L]9= N8B/_XC]"D,_&P21U'KJW1L80$9'OX:-PLD!?9O[MR4,,O^)E
MP<<&W@^L-6:-/CO8I/#&;IQ KO"7 S',K65"YUPVMK^OX62SSZI_8^=,]JJ[
MQU=QXO1 S9DN(B(B5Q*C*ME#\/K(4>PE(.&H49$3N_
M'9K/U4,T!=:.'M42&VH+V:1:VYPF1G1S%GWAF ,,PW&?A)A7&12KVFI29VT&
M;SHN:'_NG@6&K=U>?UJ<+L>7"UOV:AQLV3=.<]]YUQ*F.VZ&-1E'1$1$-H)+
M2$ZQB.00X^_;@=B>U@(X@^P/\S'<*-+> 'D)_F)K$&\S1JS(D.2YH0M76;2
M6H/9"\7H(O*NFG9$1.0[27&^7WL"2@)E^N=S79FN/< 958<^E7GT&A.[QDV:
MT]39>W0.R9$:/HZ9T.<'BK,[ZTU$S16>0UZS95^T%U)W;6S_4+O( D,CQNWU
M1ZMJ_1E_>T[F7\N+6'NU/_W=86Z .>OV7A41$9&$=7=.X7 #842.<3]?#,4$
M)C;&S"1G2M4Q)+[]7XW("#6[@W$%IQP]4Y.2?!Q]:O:?+2YJ]RZ'5U2[8J$A
M(B)?32YIK]%]N/W-[/+JI!8R\C#.O/
M,9IFU/J;_LG6,EZO]6J]@DO1D:)A<3BNU+"K^[WRI'I?GOIO:A=T_L9>G;1D.;JB
M##46$1$1.J17JM8B/Z?Q,N$F8X-?G(ZX%J
M.DNGT=4Q7V+:'%U*#PZ\[D+M(N&->UBK;:U2QB'Z9DY:3RL"YVD6TO._5M:/4N5.&MR*J%2XD/SX:
MF(B(R!>140?/U$@--\?4.RU'Y6
MAHZDYXB(R%=S*^TBBB'@YW"9:_SOURYV)3ADLO9F88MVL72N$W-.QO_$_G"R
M?M^H7>2!<@*SW?CD7.UBV*MK2DY--#9DOY*81D1$1":DMTB^/B C6"U3IV1,
MP-C"Q /'U?^YQ46ED2^8&S-+B<\GIRMZCHB(? \WU"Z6SV-EC@+_0^UB*1E"
M[[H
MG*M=Q(?MO0K1M^06":B,C7D682:V-9S;^Y4;M8.OGB
MG]8NJO8^\?)HB'G%1!/(,YI(1B>UBZQDWY&=/^F*+]4N8I1OID\53"N'=XZ(
MB(@,08A(D\7X-T9P3"ZKD0 )4G.7*,] 3UCU.JF(>IX/.!8#D]Z<$D>WQ.1G
MN]2#^F'03A&1+R)S/^V.3@$?1WABUV_[W=>TBV5D??$'?48:3X?:VJI=,'PG
MT3FQI4;=G"_S$Y0' G*25#U[-3ZGK+ND,PT:;27[0OM1K6VQ.KUW4Z)$]+,S/&H8P
MV,B9P+!+YRDV,L)&WV]+B19X\??AX8$7-[']IUI%
M1B?@.Y.F*?%OXS=-ZI:[8TK9ANBH?GI3DXS\/O!-YR,B\K^$L2]&JX=(#PWY:#=I'?KBD M4S?;_6L)XZ9]1)/((=(?U+XR-#G]$"ZD,Q/7T1$
M1!+>%J6)8WV%\3QZ%<+["ZQ5GP\Q'-8B>K&*9V;":(YAY]I[JW^:5'50+99C
M#_1FO73"_?U],[>IKM:[@V$M\9L5LI8/_(&89(4E5QRR!?$K2*U??SE$ 33^(XS_&*B0S IB;/+ODJ+
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MYA#1D$87+,")_X#E %(&!AAYQ'^"ZM^1<;@$'BX[&,8=((_^0
MVB,B(B(B(B)R&;SKSZ08L?2.%3%F%7T4BYKM8K_?1\DMA\"UA$4]03-JDG=6
M_9DT+;;_S?)%G#N.'D09C78BX!#U(AH?W?)R(!.LG*R0DEP"!**HA$2H5+4_
MT@3PO#_PU_:5B(B(B(B(R$V(%7':!L3RN68_B%+487RW%Y'DM[
MY(NHF33KA+G MR(SJ.)G$=O_POPC^+FD_TMT%\(";<:PA @A%*N>.!,PO#:00V#]%@C"XR< ?GE1$PXG30&;9K
M.TW"D>5P+=( AM"F^54<@@NQ'+QX\K.(B(B(B(C(SX,0"OEO76N_O[\_/3WE
M\AQ0$EAH7W XPDOB*E)#7J!:X&H1!\VXG7^#?$'84LPJL'D@!@5F%6D:@7R!
MJI#1,+8?!3DH:N,2X+R#$M(((/$O+>%?K$'^0O\:$1$1$1$1D>LAP\A<&8B5
M(BVBV$1$1$1$1$?FIX,21,25B%8SE0TW'
M2080["7P:$!\.)D^8PT,#&(-'O5@M( R@%A!AM9JS) ?MB_/R57Z6KC,+"$M
M+HC&>7]__W X0)7CHP0$O^20F5[F(N&# FR'.TN,+K@7&JW-(I3[&*V$1$1
M$1$1$?F1L.;E,Z_O:PP*ML>*^->!6$>C ."P-2$OBBVBIDR(AT)R&D
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M[0BQ.I?#HI[8#M<R.@3AP;\D/:95QL880.W*XFFUD=\QCTNLS]0H:\D)$
M1$1$1$1^&+E 7HY!*1MB$4W(B%C%HU>@'EP6B#+!C"$JQ#DEW480); TJ"8?
M:?6!3<+N[%+27:&?4CWQ4+TT30>MQ%*7FG\@&/.
M[I@I-5.283DIP[]4&'V%T'&EW<7R.5-J
M>M9 FL>DC4I*);3$F8S\0>+WDG%E@8Q"<9=.[+5X%+QL!GUU2S.0%M,RBA_I
MVF\DFE&/,A$AFY)]]J+8?+R6?)M"O0-..NB!,BJ
M:U>$ O6*T*0;1NEINGV+C-R^_5?67,V3.<+Z2SDOW_\$)H>HC9G<)/4<^YZ9/W_Z4]YR
M<5^NF&]D.^L<8\L3.R$'?5,#3]KY]6+'YGI->F;+;=GWWJ0-_>^H+]S<(9,[
MBM-A9EC[@9[<,BOKA\Z-3\C:,R>/-1P9\>">'Z7OVTGYIDDGSUU$9 OD(>4S
M7A*,6?FPS>=2/.@H>:N%>5:5?A:L1+"I(!DH1@Y5TV"IPK)][K4=7PK"<]V?R()KN\''+*4RQN
MUXG M:5G$)3Z6Z@>90L7^ZARH>?/D+4K6%L[J8'HXFL3$M37YG"3V4OS.QT6
M[GMO_@QOHJ_WMV(J$\G/#CR4KR"JS(-I;(0S
MQ3B$^?"^R[U2+Q.C%6/Q]^\KJ;?$_#5$]N=^0W+S9K#>LJC?KEP1%9QB:TN\2<_T%V7X&.SE
ME#F7:1=#K7CM"NY&,Z[)[[JI8?*#:K2FR1NEY?,],VS2L/>V:Q=K;\3R(;G6
MU?U%G_P6>HO?X4BQ=B&&G5D%V[6Y\?8[$GC[=2!\^'/\ODFV@71-K"?3-.R-#8@U4A5,YC3YK/WI+GFKINW8*F+
MBL[\=A*X@T$MVH-5=GJ+[(YO(E))0*_ QI*SN#ND<[VR?]!/&$PG;]D0\_-D
M.7$M].3[J1-+7M]@'L\/O'G=,YSSU$5$9@Y:8[@@:A:A=X=D1AA7T!)B^6:!
MX?+SB[2+^Q'-[[I_(IW4+IJ.:MZ+]9UVC7;15]A 8YJG7WT!QU7CQN"*-&^H
MKW=Y:VP&MBQX^W>U^T-^\&'A[=H%M]_39YJ0RVN_A9/46^N"'POC[_#2URL^
M/,=&^F"@?#FZP_ KJZWYLU;)
M_K,+[S-A-4_<'=QOL)V\2+3-G
M05PCAHS]T1&U7QUP!8>BC6/[S
MJ!D>Y2NTBRBP5DFSWFF..-_
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M%WU[&0.=$.CBQHKZ>0"<"W"P-#ZXB;:Q?)9OICWS)"SM(LACI78C(3>!95S_O#E-3
MXF1B94U0(.88F)8-[;0OAL<@T4'K<,, P;L)WM+NCF\'>,A/!@CVNCO$V.PA
M*@4%D,$GNV OK&&;9SB:!FK,35PV_# K=>.5(
M5[6+O!EZMB_D\TZC82=C%"1Y07\=PH#7J]]($!/MHG$L+C9S
MVJY4+YTE3W,Z^2/%IC0O1&-@EG<=T[;)H6OOU8C-O<]4'K?> %=J%]47HQ_[
MAI>R>4+B?G7N$W)R13.[
M!7_&S,S"$4D3@$7'K=)\]'E:L%^RL&U<
MPA.$OR'N\XF]:YW^77,NWZE=?!P23]EYD6=
M,'RC/?%AGZQ#SZ)J%Y-X'?6I,K^(>2FSG\(]8+&56B>8]6":Z)=U BQ
M5_K5UM4W;XOZB\M/YLK*+S;JF-B)]'IS&?,5YMY@D5GDA,M"[PS(WA9CA*\I D@ .KDBJ8-ZLAG";X/!RU
M>:[V!^K?8S([Q4N%DQI.U:J91XZP!+M(W0.?$0PSZ-(+^F<-YE0,'WVNDU26
M<@O#+JXW5[[!%#F7)D;B&BB'PQJVY!E9TRZVOV0_R5=H%VBDY$ZJ-+/6N8OQ
M']V9C
MGI'+M(OM'@H3ZA-RRWE5@[KF0E3M(EUQ=^6W4Y?V&"1LURY01'O3BSPH,Z4K
MM8ME'/FLKODLMI./.QY?47E]D9%I1E-DSE4YFD!F**CY/H9#
M# N!M-/[.'@7,I#%H7FB\I8P3Y]E/B)Y\W2M0QZO.?(Y3#MI9 ;J3"7AY%.:
MN?&6KDO3CN4XY7@^Q*^&)G%#CO5(0&H7\OW,,]17AJNJ'ZQ=G.2NRP#25_*/
M:A=+"<5YLA\N7D]5>3DWSNW5:_.:D:67+_*][<_3+IK5^B0&PE^K7>1M7".'
M;/PM]!>TSR;)I.5B[8+;B0E53[.>_3]K%U6#XNY-^9'?;UU9;[&[6,J]P2$:
M<:,6N%B[2)O;DU=M[3E_Y1/RAMI%9EVD6-3')%I<,Y >!(2J!QSB.=#VI%\#B,LY%.1KW*2V5L5
M(LOS;&>X82C$3X20I!P=H8,AC&=O?4JG1\GN: %"21Q&,OL;EAO$7T)IV9W2
M+FA/M=R;3![H.J;B] \O)H8VV-D;:A?R!_DX1.EI;
M5&Z)I#=4Q=>L+VZH753![5QGS),^(\/ @#T?GR-VYID."]]DY0OUH$.WB+R[
M3CK^I$+5+"V;V YKIA?#"]I+=M')S1N-M9[I>V^8_B8+-R>UT6?DLI]);;]2F5?5F6VM\,E'AAMK%,C*Y9"J^=M%%1"ZC:A=UL*C6MOO/J<-9
MXV]\"C%>/!]2;[":3HN%.ECSA">TT?,A]7D&N& [(==X_M.V=-G8'9.//)?@
M%>EIF(]-9B]WA5\E)%?]3/T956-W?-N2_;,_)D+-2!2T.?[E'$_&<*;:= ,A
MLM-:^4:[:)2!FC1-[2^R"W7:Q=U#7AQO(L+?BR5>@/4OCJY,#QI;)-MF/_*=E?G&6GR
M=:Y=_;6%VYH8U5M?9-:SW2B,89UU-&=$OZ6G:C.':=JS,23%94/\Q_G15OLK
M^+PA*VC2J"63>!=\]?$Y9VC32Q=H%TNY0W)J5\_]5MI%WVD\W] TZKVTI9+)
M$[*_9^9!*L[ZS=8'0C,[7=,NEI'UQ959PT1$>A@]^9R!+/H!%XDC]?"SGD(Y
M3/"N+57H.GXUKQC2O"$#1..7D8,.M@>\BVG>7::S27YHJ 5V*Z0+R=W1^;I&
M+V?64>-R5.:=PT0H19CT^)B,8E6[6([N-G6"--Q7[4+^%"WB)">OYLG.G'"6;\[P
M'"?>B+U\<;)[-VH7=4VWT?:^CWZ:#;?2+C9Z
M6,#P/IP8TDP&VNZ
MID"O72R?[['=9YWA,NVBMWNIC[+KM8LMCL!S(ZMSGY#-MW.SP]J?\V=XU>MZ
MH6.B72SK :_4+D3D5K ,7XYYY=;L#YDYI./AN=I%.F7D>I^!K#[GF2\1C#;NRN9
M5=/\8]*?C=T%1B9I6)@I67'&J>.^VH5\/WCLSI\/=7K33W[.U2Z:F[Q9:$P"
M/^)[Q6^PGW/61DXLJ4XNXN;:15/#VNO+?TZ[6%M=SN/DUZ.I=K&LRQ?7:!=-G1>(0N=J%WU+AE>VWOS#GV%=/++CVM%YWNT"/Y'YSW!B9(6T,D_"-9?]Y]I%
M(]VLW9E-DIV^GKEVL1PG\\TO1>U"1&Y%U2YVZU$:F#GP$+M NV#@PYF"IR+/
MV%Z[P'^3(:"Q/?MU\(S(/"-,4)?# SD:P[#R:SW)VG9VQV3?-*_:=>^.%B!I
M+X%M!J?&V4U6"OWLETKF[H>-=I$]V=N=[LKB2.U"_@C\/'\=PLOT1ESQ:ZIF
MI<,G2=4NG@^A;R:@<#8U-"_LT!51_'CUB1#:3.2:2IK0A42\J3\H'CN-3M)W
MR$GMXN-S=KSA_/^OTBZB)?.+PE5N&LFJ 97UJ)E!=27[<,W8YN-S2(=^
MU3G7+I85^6*+=E$=A?(FQ!^S/KJOM#+"NWP"[P76SFC_.7WD2?^=Y@4K;SH[]2'<3[6)MH;I69N@E<3* R3 -Q/!P?<\T3\*/8SB@7^MN%(UC
M#AZU\XM[012RQI>JOX+-7=IT?B,OY!2.UO)ZI;&'65OM#ONA>GG47\?%VD5=
MOS?/_"NUB[Q%&?OZ=,]-9/5^+*A/R!RP:LOK$W+XJO%DN*?GSPE!\HIS"U5+
MX$E7G-0NEI'UA=J%B-R*ZC."HP3C3G6RR\ .#/[:,VKV[!3RW.;NWHR0"T1@"*-7)WJ_/OB>3%Z_T
M:FH=]:"-96E#KUW,V\\ H78AWT]O7%W=N)H?RYJAU[F_Y>&/KE$5LB70;&>N
MV$_2&@UD5[(2]_6LV5V?U"Z6SSK)R>GB']=[K[]S=N=XT#>[VW2AOYEE>
M,'!NH-=E19!9NX(L=>?W2:VDW[+676O:15[W/O+D9=K%4B94S8EL5[&Y6;/"&WA*IN0E),0*/N:]BB72S=PT'M0D1N1?5QR.<>BVOXU?G6G9MG
M!"$W0U_>'7)A4#EZ15:%[0=&=TC!C5$!^S8F;?F0WXVFB!? V?6&'W='^XKT
M3V$+60]0?H:2#F,H[R!R1*/:M"&9:$%T>&H7?:L:4KOHYW@B7\KP1=N0_<%]
M8%C)3;2+N/.;]_A#XF<[\6+ 37O+3&^_[B;S<2J8)S2^)\WD^6_3+DYRUVD7
MP]1(PQTG;CY#:N>35C)Y-GV=+YK=0L]B?N-D.A9T>
MG%SZI\?W:!?+X:=]\B[J34>:IO9:<5_#R:!>NY']"6'->ON]/-S0TVJB7?#5
M)$;TF@747+OH;?G6&/[>,<3J(['W<,,,?TU5NY@XH)W\S=X=[&F
MQW9J%R)R.YKX#&MA=NI<^ESM@DDOJ49VQZDILC-/MGQ7PM0"?XU\@/,495C!
MRN+N8+E!F29"16Q\7 >_5QQ2J*'ZPS*UON_RQ.V/(>6QN+@[9C^AG74(Z >+
M.JFN:5#Z0TRF;9P[VA$58D_8[\*D6NU"_BR8Q&GB5SP=DQAO)&Y
MEQ8K"(+2_#K&Z>47',
M36UKK\\2HC%G^>&DMVG>ENO2'Q1#/OS^]MV-@97=!0$G,P3TR9,E/M+P76:1LZC#3 )&5ZXYK$SN86:ELQM)KG;:]ZT
MW?'E!3.0QB]@TMHM%_PY8&_'.U_^HN;W_;/
M3,QQ^^N8U-[K[XH:&2P;/[\5\:XZ>=WI2>:*^\^/N"V=F=YD%SPAS_HM]+_9
M;.3)D;'^!.9'J9=I/]*+1$0N +6\;F$ZD4^S_=%*,)^W3\=T)!L/P<"48S+0TPYB':T"YRSCF?G.=7:A?RQTG7?GR?
M)Q/UNLO[.>#HO:7.= PG^, %YU(KV5Y/=[_:C--0?2__MR=,\V2WUFIXL
MW+=_^X5;NVK#LYATUP57?_X[7=N%!R#SF2]Z$A+>_&1C-C:5BWC],:-M+.AT5D9N Y4.__>.8
M3GI?^'Y%;I*,%&/ TW:A>H'S6]
M:8:)J&DR&O$V$W+MCGXB&'YG#;MCG$P^I""0%A?5^J*:80P_UP]WQ\RGG&^C
MF7 L@DC76!S5%@ZCP: 1+NY*B$XL /,$>=.Q9H*X/X8J78Y95FN=:2Z2MG^8
M7N!H<^%M(2(B(B(B(O+7@!$%GS-7H7BHB(B(B(
MR,\ ;0'% .V"^%%8( R!>MT1 9>]&]QV,3E@?5^HS;@A0$X.S31FZM&@0L)
MX:1V1V>-W='K9%<2'5(YR4QW1ZN&7->GEE(+YX=?APBBM9'I&X)^@I92XXXV
MP9-KI/I>6,"@I4;LS&)K\4,RGC:NK 0^Y>PX]PP)E>>(O\]VVQ@1$1$1$1&1
MOQF6QNF/0(3,FC.+D&NXD\2_K--9N9_4+G)QC9A G&2\&W9'CPR.GDXB=;E-
M-&.B1A#D*L-=ID1 G,ST%LD4482#F&@79.O@>8ZF5-C7) *9*XPY%GS;S:5:X$M"AU2C3?H^7F2
M;A$1$1$1$9%_!5)L\#FS@52PFDAWC^48,3*- 2;$PI^5-4+$,'LI$3BK[02N
M&43)2.N.3'JR.R9:11CY^/C 06.B7:3)1_49F=A=H$+$CK2!-*FT:BV(1#2#
M(^8Y5IFB9Z-#!VXRZ!)$X S2?R2/51/!+ ?SC#Y[BXB(B(B(B,@_"@8/K'.K
MB0+A(T@R$K VS]RIJ6.R.V4!.=ATA-WB!B8,[1RQ%5NX@/O7:!L\::=H'X0+(5 G)ND1J:
MG*?#DX6-V4NS8?EOIG?!.F5W# E"@?03:5Q(1$1$1$1$1/YI8BV\*W$=4YU@
MC9P"0MI.4("@D2=-$4A^6GU&UA;U&1H4T0"O!Q0)P :CJ9P$)1/M CGB NV"
M2!K;PUWBT#'1+O+!><5*[R%B=:X8?V-+A2F&5!4B
M\XQD;7%<0H7LCE(2+3%!JHB(B(B(B/PD<+[@,ZMCM((,?Y&F L@(+.=9F\]K
MQAZ@IDE=2Q6:X.] / UL-HC)V=2,*D+;TIZAC]6)-($(<);=16W/W/KBXT"C
M*C1DP-+MAAP9BA,5 DV)E"ND:T%7X=K5D@08,5"GB(B(B(B(_"18[?*9)7/&
MY&RT"Q;@U9WDY&(<3X>4+#)E25W7\V\:4:!+9)G>A"!SD:2\T,?JK-I%GV\//!M04Q8$RY0/S!6.>NB[$HX"QK&63\:0)M))
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M;\H1J5T0&W.C=I'J!P$WF>DTX]))S-!A/N
M(^-Y8@IREG.*B(B(B(B(R#\!02%RS1OK>M;CL3:?+(0W9AMI=DG?DUSF(U-4
M$0/Q@9*9!C3V[<-*9#*.&@'CI'81!QUJ%]2 (4^I.Y),UV(6(B(B(B(C\/(B3L-'7( JGGP@V"1M?
M]*.09'!+/MP?P!(CU0 6[QGDD\7[KB-SL/;;,T!$#6&1G_&+X7.*&*D)[(YI
M4FM6E)K=%2>7QH!D=XS=P3E>G.FC)D#)?ML=K$'JX=+<)6UF\"6I.55%1$1$
M1$1$?A+W]_=;+"AB95W3?;+PWQ(-=_TLP :P0L
M*!X?'S$5H)ZH,.-F]($]697'^CUJ( S%6L#/U! :?:/*(+W*D5) [H*?R"3G
M:14KZK]H"!QB8PR0GB9*)P%1^1QU8GJ!1TQV174M:8)RB(B(B(B(B/PD4"&:
MV)@]F$_4]_LH#_,=B581I'$%KB*Q;U;8"!>( [%4CW5ZM9W(-?O=,8UI$,6H
M/VT5L'](FPUV'$H?N=Z/W:,]%&LB7; %$Q%B:]2F$@[<0TZ,T +
MRJ@=C3L/_4EK.1891BX^KHB(B(B(B,@_P3N.'#./)JCF#26Z!F)98
M;A#[ G,.C J&EA64847_^OJ*XT8L[==:F_8AN\\.( UW7?+3!)>6 -V #"E1
MN.8G3:K#2S3ULF 71!W9%1^<>BP4DK5]Z3<=1D3D>\"=+9E_VSRHK]EWK3%$
M4>:A'8_*>%:O[5CKOZ#,?/]WX=S?-X#"/SD6O]]&=)'@,92@@F!*S9L5Z(
MEF3"#C*$;HPC"M6E(DF#BF;C%JD!9: Q^>A!S[EXGI8!2[D$&2&D:7#.9SX.
ML"]13R\[KHC(N<0S&?LT;-N:YU[Z"?(0:X85XB;Q4(V'?R\.U/Q3=]GZPF;S;1K-^C$JP;.R/1?.&@V,]XK 3*),6CV<-W^<2IU#[O(&0X%M$
M@"'1\AJFN[\0!+^Z_BRB>/,ROSVB)T].8.*4Z]4?
M*A*QL>\W?LXJ&"(BY$!
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MW3;52$3DAJ0(L/NL#\3V3!L]7$;EM_TCO3>EF*2/Z._4+G:C
MM?^:=H&CS?R,HJJA4%#_S87M9&6=@\[:BKXN0OL7![VE1S,&_1'M8BAS51%@
M8RJNVCEKTAD7XB:GQOW0#^)IP- 8\%1+F_X^J7=1\WJ(^][:4V[2 UA+3Q%-43)C?G+PAP"NY3G WU,F&$+
MLT]2U^JUB]JV224W>>DC(B*R'*=5C.\(]69VO=T>C"R)=Q%=1<_S+@9AHY=R2(7AH<9%<>;XYS:"?
MF=BG-0LN+;4Q2PF%P93,5Q@B\D?(56'5 6K8X5RM5'.^?N6>\+CC49^KK;6H
M"XV1 ^Z-B-7QJ!RN!Y?/*@'6=ST3<_TMV@6C3PUB4.L9:A?Y,GVBJ&SDI'8Q
MO&I#JO]FW=Y,!G)@3?7@K](NEF*B!4Z_N!+@6KWTMR$)\\E)SS#NZYF
M@:^_G6&$3\A?(O.K:EBU9E/4^[%64<@7+B(BKZ;@T>['6O6NU)+K:[X%UV(U_0DJ%VP9-_MQ+:=)C1
MHY!T[#$3Y#1#;JBI"37B3O'O7
MWIND:5-S?3/BQ.X8\JNQ*1T:;<$1$1&X%
M;U)J#HLU2#>-;IX]D-6=7&0S/KRJS&H[GV0R>O73'XUVL93G=JWM7.T"
MQ\:&87:/+$]5WZ-=+)]C+#!,JUU< #=SDW.D#^AZL7:Q'&=WN.5FA,\TGND/
MEZ%$J^W31+M82E?7WU?SD_R&NT)$1/X_-#E$8O#"+&$88+,?1MERVS18C(;H
M#,U7;(P"-( 7%FE]P22J#QQ!1GCF"=A@8+:1R>XQQMB= F>3R\BI';-6)W4U7SNW[JFK,'K6JAY$R9C"DLP
MH?>?WOCQ5ON!:_U7:Q?8HD6<%Q[@51.AJ\H@-8X%NB54RB=;"M_W&
MH;93?Y*-J6W5+H:F&HUI$^]9\N=LO L1$;DM3'ZV3#FP0JQS&-[I])8#UU"#
M5_?;20Q'W.]TN_TS82D:3#Q1NA;
M)K=&NA"1OXJZTF=M4E= ^2([K2.&1A2-=5S/,.K%9 64U@6[+JGH-\3J;%(\
M-"_3A\-']D CB9,F.Z',-=I%$X[R9)2#7B0?QB%I1LR48OZX=K%1JX':.6O!
M,+/:FX@;36X=5(M)S37?Q_#^7XLU.FEPE2FR5:D_(+A5\D+S8JNI#4&#<* !
M_E.]Z_%YW20B(K(.8_W&\86W0A@_4!ZSX1C=;C@\,3]I1DG$"@9')B<48"[-
MP$W#TBQF)FW?&!?3-":74>Z;GL!.O$F"W90@Q%^F@;""SYMH+)
M@V\N1.2/4Y,V]BO$CR[M:?^^.&O@X=RP9M!.S6O+L;6@B]^O72R=? &3'*ED
M<^@;1O2G?EE:.3='ZM"B,IT%AO4,M8NEDR]VZYEPH_Y;30_FVL5'2<%[2<9^LEAO?[$BSA3IGQWQPQ]>:!FXIWSWF;(WLC0#A-KZE2!
M>&'1S!SRY5?F5;FN1T5$;D/UL.L7=#5STVX47CB7V\.%57[;V-U1[=TAZ55\
MKC$MJ]5Z,PS]$>UB&*8.ZX70Z$)$1+X"5/=A-'C(,3='50;'##,^M)2X
M>0L9#7$;(;TIK6)&@6](,TG#%1=;1R9:L13J%C[([^F!GH+*TL^(PR
M@'S!G&K26A0,S)@;?6,+.>)/YLQ ',XO<@$;>-A2JB,@U\$1E0334+O+;
M9D&=KZHGMF3Q&$31O3O$5LKG8;YK[O.,L&AJPAWG7KQM[YU0$C1P#M=[&>0R
MMG^,8U&PI>;AV HDE*PJ1YY1OLX>[@C9GUM&7H)4]\>J3J ->37[O&-]/T3)
MB?O,]2&;D+#NUF$D'0ZXJ;&LF4GDA>C7XW%KK65LWYT3Y2-O[#E#F2A#BV^_
MQFG2L.8T,4WI?Y+SAHF(B-R$G!7D\,1*'T6BL1>M%@4Y/*5I
MQ-=97V065X;(&!R)MYEV(\Q[$1S0,9C^88!!4*R:^70RF^*- Y_/]6E=#I$W
M:&1.:Z.2WKD[Q9;=,24*R0>7HP?W#3UQ1$2N!QDAZ=?[]=O^*PSC)SD?:^:1
M9KG$8QFO"N1HTDZM+?!K;9/0A5FFJ0=5?+@[EG(T48-J$_HRU/
M?BH?7HB-QVK<,QMJ!ZX5XW)09KC&QT_A>KN+[/,AF0ET;?IFA"8=P6C"%1).X.WIJ\#$II E$%9V'L&1A,,:*([?&9=RMX=WY%
M4/3Z.N;ELS=*\\)K2,HIC90D(B+RS\%([7I61$1$;DLL[=,"-NTHUC*C#>,P
MY%Y?FM,S918D" QZTQ.$V-D-B I=-A(LT
M%N5$#-$I(B+_+N0%6W.9$1$1$;F8QG.$M3:KZ3XN^N0U"O+%E_H[9*(0CH51
M+AO1+K /B380_1*M8^Z>?"4O)>CZFD7TH#NHN4&Z!81D7\7
M(F-O]ZH0$1$1.8M<\N?"F82>-6SU6C[Z)*TO;I49;7@($IEE+*D:#1N["Y2*
M=&_!]_.+O##2(F6+-I*!.X:3.DY';Q$1$?EWV1BU0T1$1.1B6(:GPT*3E6RC
MT4)FM1M&:+\MA+R(PQ'.(M;^!+W$-X1X%U_:@)I_;>/)IO\($3RRA5AEF%M$
M1$1$1$1$9$Y=0=<$WV>I$.EF\@V+\7RYDR$QFQ"C7T0-87%!\,\4/=@1WQ;#
M7(B(B(B(B(B<)%;]1(= K" V9J;O/(MTIH@U_O=$&B>3VC<%%E$R#@5A]]P)%?)6+
M_6\SP/@BJKE%?!BJ#>G]@5?(R8RQ6+DH7(B(B(B(B(B<"QX?)^4+_!WV^WTL
MTB<1&W+53YE_3L' %B4CE\8IK'5+;$]](\-9K)5$N/@9%BDB(B(B(B(BW\_3
MTU.LK$^&OLQLI/%A(DI4;XM8W<>"_9\([X#=2)[C?K^?A]1HM(O[^_LU^8+>
MZ+U.1$1$1$1$1&0[L;*>A*/,:'>,LHF3T /I,=-KK@:;KL+CXGERN(B(B
M(B(B(O\'YM87I/LD4\;S@6$EE*FN(D@$J7O\_OT[OOU3H3"B52@/59")SS6"
M!V4R7D96J&DQ<4\=8N(B(B(B(B(G$NLM==B7[R_OP^-$!H00 AT
M6;>_O;U5(P?,,'I;A:\#R86PF:E:1#->7EZJD$*9. N2QD:!NP9GT1_VZ)VU"=1/IO<<2(]7ZU>8AC/3\_O[V]W7:E'[6]
MO[^_O+P\/#S4(]*VV-@XL*!:4"!;$EO.,A$AJT@OW8B(B(B(B(C(#2'SR/W]
M_;F>':^OKS7U1FZL<226HU,&5@TUW$3\BX[Q\O(2!89Q,M?X.!#'BGWC< \/
M#[7RE"RB_BC3-":VT)@LF/C(\JG H"11BS\V<**OM'W[]_W!Q[6B6]_'^AS?Z2*$H?H
M)8AH3-I:Q-\HD,U(_2'.:&.6D/?W=QQ23KK5B(B(B(B(B,A-($O()*5(0ZSQ
M23#*\C_V2N$BW4/B6PPD^MUQ\8B%__Y ;S6Q!8PW8G=B5KP?Z \4#6MB7Z3@
M$,W.C3B;Q-^3YQY[T6:%"Q$1$1$1$9'OA'0;) \]69ABF9XCEO-5N'AX>'A_
M?R?8!=84"N! I
M033?8KU YHXH60TM,GP$ZD3CG4&@"4)JI%!0[1\NYOW]G1@:-2LK;BSQ+:87
MJ52DZ45C6_+Z^IK[#L-UQE$P2AG&\1 1$1$1$1&1;^;M[0W]H;$Q>'Y^1GG
M<(+%?BSG\S.*1]ICU!UWQXP>:?R0!5)2P#PCHU@0R()\(DE:5B!!I%<((2]J
M@E2">-00%E& '7O?D+2^Z!6;:#9^(MNSD(B(B(B(B(C(5Q-+^URSU^7\V]L;
M1@X86F" D8I!-;JHR4-CKW3'J-81'*A:8L2Q8L=J/I$A*8@.FH7C P$_JQU%
M;B9)516DB=O;!*XCXD=$M-+<0$1$1$1$1^2?
M< +9H2H8K/01"M NT")BR[">Q\?'_7Z?BD<4B_+L'C57)2 S].W 56?N6
M!F>!J+EF#ZF6'DT[7UY>4#:BA4:W$!$1$1$1$?GG(/[#FH*!=H'F4#6!U]?7
M3+H:N\?GJAZD1E&#:G(LC"OB[]#X(#!QQ,V(Z/!O("7\4NJ5<@
M% P#4RPE;$4-^YDT DCS;1PE=H^C5Z\6?$^B<&US)BN)O\_/SZH6(B(B(B(B
M(C\ HFZF#0;I.=(Z(CZS'1'C]^_?41C;#'2&U"NPUAB&K8CM&=2BCYY!0(P:
MU*+*$8@D')=&HIG40\17CX^/M%!;"Q$1$1$1$9$?22SV7U]?R?2!PI!F&"@#
MF%@@.Z291-I:Q(?E&.VS%Q]BR_/S'AX&";L(&SFT]-3*AZ_?OVBAA0K\/*HGB,O+R]1H-:/:PFY2^+0??"-V(C;
M2%J&:&@A(B(B(B(B\C^':!CH$M6RXO'Q$?&A-WB(+4@_WR.A*%F(B(B(B(B(2"5%C(>'AYJN%(\/DJ5>:06!
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M$1$1$1$1$3F;]Q$?'Q]-L=C2?)6%URI7F)SWV!26->7U_9
M-S[T;9@T+ZL]W36'2J)M'*AO8:VM9UA>1$1$1$1$1,XBEMC[_?Y7Q^_?OV/-
M7I?>KZ^O?!7;ZX[W]_>U6'Q^>'B([?$M^D"49\>HH1XW=KPK4-7S\W.J"K'V
MKT=,HDQ4WNS[]/14FQ&5L&\V(XF2'.MDSW B]2C1+?4LLK8UU"Y$1$1$1$1$
MKB06U[&ZW^UVL2I_?'Q\.!"?8ZD>&^-SED0-B.UO;V]L>7Y^CC*QL8H#46'L
M'MOC6[9$>1;^U1*#,O?W]R\'HG SD"!:R_E6+87:8N/#"+4+$1$1$1$1D2M)[:*N
MQ_'(0$G([;&-\E&F6COTVD5\0'^H,L5R,.UX?'RL6YIB
MM"IH+#&B "U)P:1J%XU\@>0RURZ0*>)O(\N@G-1S0;OX_?OWI#81$1$1$1$1
MN9BA=@&/CX]UC=]K%\M1!X@:4AEHC"Z6=>TBC3V>GIZ&\2Z63KN(QJS)#J@*
MZ<""=A'[TIXJ7YS4+J)8;P&RUEVI7321+M8J%Q$1$1$1$9&SF&@7K/%C5)+UVL1Q4"/2!"F$K:AL:[6*MJ?VA:5@0^R+"I+)Q4KN@
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M/E+5%;4+$1$1$1$1D2^EYD@EK6GI[H[DDC0
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MA9.JUHZ[MGWY?)ENZQ$1$1$1$3D_T8L"1\>'G[]^G57^/W[
M=VRLJ\7X?']_7XO%Y\?'Q[K\C)4I537L]_O8M]86Z];8."P6J]K:O*@_CM(<
M-XI%#;78\_/SL,(XD:9"B(W[ _7;:#_GN$8>E-.,AM4Z8_=A4YM%=Y2AJ4W#
MHMCO _-%^K"'(8Z%7$#W!E7-8,?8V'1=E(GM<=S^6%G/L \YV?@V.K^ID)YO
MI FN4;W-..[3TU.J'-0Y/SL1$1$1$1'Y7\&Z=;?;L82,)6K\C44B2\M<>\8:
M-HO%"I1BL0Z-+?&W+E%C@-^F-C'"N+1>4<-U?*L5:-C508
MJ]K8'D>/76)+%*MK\-C.QJ9"-O9+[ZAM=R!.I-G.OG0"IYQ;4@K@-*MVT3>5
MGNR;FH>NVL)R4&E8I ^-'!+J;'H8HF96]W1O4Q4[61Y6@;4"MD)=LLC3%O:+:SRFY6Y5EA
M+-N;]F =T2@J[-*V"HZ=\<99VT?1PT_BY=M&T
M6&_&JG-8C*_J&GFH7<2JY=N[5@[["H7:1[:GJ2A#-HY&H$XW+
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MA8B(B(B(B/P/(24H
M[\KKFC2VDT:$C;58769FCI*ZCN[C7>2;]"I-#.-=]*!(_"K)29>#_I#MR=W[
M>!>Q"^OH>FHLV#-U"+#6;E[NGQNK$TN&OJE44JU6&NUB*:O^H8K2<"OM8BG6
M%XUVD8%0:B]QK?OPI+7?TOJBT2[R
M]-K%4G287Y]SI-;@'ES'O(6J=)8Y4N\[". Y.6L1$1$1$1'YJ<1ZD(P;N :P
M;(PMO0]%7RP6I$VBD-@8WS:+^EC>-D$7,R3"EM5H' 7)@N-&&_KFQ1:^:BQ#
M6(;'[IPF9?J$L#2FYNM$U:D"3CU-K#4:W69C4[%A:+HHNZXF&QTR[.&&[-ZL
MBOK[TT&BX;B<.Q>KL9-9BO-+:E!T0I]39NU$L++(O*O8=32W$'4..9D01T1$
M1$1$1'XVA!W8DH]R7FSX;59>E]+#Y)Y;CCO1Q)R(1L[8:VI).,X
M:Z^-A\[&OQVH5:WMV!RWN5*USN:K>85K%S?KF5_'GKFD(R(B(B(B(B(B(B(B
M(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B(B
M-^<_YA"2G T*96YD'P
M7,VN9CZ]G5*(XJ<*W?.CPMV4DI\/2KF7QL/S,UZ"]*E"D'[=2[#P.Z4@"[TH
M&IZ/>PD6^4@A?\9+$N&G5\Q]S\^M8K3PTG1XGO#T1"GQXG!?R3WO>_LTNYU]
M=VV%LR2DZQ(?3A,_\L*D?PAR^\DU[-YG0AM&E^9AM.EZS[X^-:
M5**F,[GB%5YI]>;Z-QA9[6L-KWSRG[C8$SE7&U8SN2-K\\-&BD)MZ*U6;4WO
M9.&]SNC[MMJ!.R>@ KY]9"M.X;3P.P+!L[T_$GD(YETT1E[Q -GO'6T".F]H\GP_].1
M]]VWO:@"/_'R@-(L]OQD%)S-*@Z]$<8()0V9FA=B*0IJ%#5K;C@9KK>BX,:[
MIW=+,NJ$ZHHS?&AX55%KZ&[-I94E9HPJ!&MXN1_4X!W-(G7>YYION6PY"4.:
M%VHEQ1^\A/D+(5E5[0XQ[K\K&
MO_7^@ 496A&E8>C%8PZ$0V03G)F2_X73FFTM[EO![P \DJ/Q9&K@RBUS+*.X
M; !MJY%8*$C5(.&R$WTDW%3",!DZFLZ9U@Q59TV9)PSHZ":TD"M22]KP4C#D
MT'YN-!/PS&1)2J+.+,-T20/G+%DGG":+:&"G-=T97#-#-QSDUJU$%!\[5BY;
M#1%-_/>Z@BM8W,$;<=.(#6AHSS--M"FWV6(@9\$D,((_VK#2066-,ET)^*I!
M3F5+Y!U>EZ6PYA[*Q$8H"P%W!WFP+Z;RK-7<<0C56IM;IQ4#FSC]C?"=0^
MP.B@/U:4"330;5=K"N+_0WDF8=;3<*_1Z_4.UUZTN4*#X%XZ".8Q!GB;=X+HN8K$B12QX $+($&HW2YC&+J*,M
M.HV;QZ)9(X2-0E /XQQ03(&0!E[??M2FUAQU:4 .LEVA[IES!F3*MG#'?%AE7I?4(//BE^KA_<8L'W,
M+O-G$E@!CQ.RZ^6Q-/KNFF.C/2N*ELM[C*8&>\WFE:%&]F+R15[M>@97H/S>\:?#"31;,$MDO#@,;'@;:F,N:@YH&Y,<8W4[5M"92P0J8C
ME.[_4T-K?%>*<"D[QO
MH]U4P6U1N6[]@-+7UJ[QBA/&\<&L.RR93C2*#Q:))^=S0L&B/^'+#Q*YL1?Z
MAU/W>[$5P]@[5[I6_1WQPB66'QZT,Q4L B\:]\L/2PQ>U\FOD0I+E5;:N6U1
M^X?+_B]X[C+D#0IE;F1S=')E86T-96YD;V)J#3,@,"!O8FH-/#PO3&5N9W1H
M(#,T-S4O4W5B='EP92]834PO5'EP92]-971A9&%T83X^G)E4WI.5&-Z:V,Y
M9"(_/@H\>#IX;7!M971A('AM;&YS.G@](F%D;V)E.FYS.FUE=&$O(B!X.GAM
M<'1K/2)!9&]B92!835 @0V]R92 U+C8M8S Q-2 X-"XQ-3DX,3 L(#(P,38O
M,#DO,3 M,#(Z-#$Z,S @(" @(" @("(^"B @(#QR9&8Z4D1&('AM;&YS.G)D
M9CTB:'1T<#HO+W=W=RYW,RYO&UP.D-R96%T;W)4;V]L/FQI='1L97!A9V5R/"]X;7 Z0W)E871O&UP.DUE=&%D871A
M1&%T93X*(" @(" @(" @/'!D9CI0&UP;65T83X*(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" *(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @( H@(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" *(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( H@(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @
M(" @"B @(" @(" @(" @(" @(" @(" @(" @(" @( H\/WAP86-K970@96YD
M/2)W(C\^#0IE;F1S=')E86T-96YD;V)J#30@,"!O8FH-/#PO1FEL=&5R+T9L
M871E1&5C;V1E+T9I7!E+T]B:E-T;3X^
M[HQ1^(?>7'
M\ X1T5M)!+*+3AV4Q[* LRCV;>,]R3[6-V?7#3J]ID1EIHEFAH:8UVB>?P48
M $'6/+D-"F5N9'-TF4@.2]4>7!E+UA2968O5ULQ(#(@,%T^
M/G-TP!D3V!B8&1A8JPQ!;(9
M 0(, $NW!!H-"F5N9'-T
TEXT-EXTRACT
2
filename2.txt
July 23, 2018
Philip Angelastro
Executive Vice President and Chief Financial Officer
Omnicom Group Inc.
437 Madison Avenue
New York, New York 10022
Re: Omnicom Group Inc.
Form 10-K for the Fiscal Year Ended December 31, 2017
Filed February 15, 2018
Form 10-Q for the Quarter Ended June 30, 2018
Filed July 17, 2018
File No. 001-10551
Dear Mr. Angelastro:
We have reviewed your June 27, 2018 response to our comment letter and
have the
following comments. In some of our comments, we may ask you to provide us with
information
so we may better understand your disclosure.
Please respond to these comments within ten business days by providing
the requested
information or advise us as soon as possible when you will respond. If you do
not believe our
comments apply to your facts and circumstances, please tell us why in your
response.
After reviewing your response to these comments, we may have additional
comments. Unless we note otherwise, our references to prior comments are to
comments in
our June 12, 2018 letter.
Form 10-Q for the Quarter Ended June 30, 2018
Notes to Consolidated Financial Statements
2. Revenue, page 6
1. We have reviewed your response to comment three. We note you have
combined
managing third-party service providers on behalf of clients to produce
content or deliver
media or production services with other services into a single
performance obligation.
Please provide us with a specific and comprehensive discussion of the
nature of the
activities involved in these management services. In addition, please
clarify if you earn
Philip Angelastro
Omnicom Group Inc.
July 23, 2018
Page 2
any commissions specific to these services. If so, please tell us when
the associated
revenue is recognized. Finally, please tell us how you considered the
guidance related to
variable consideration for a series. Reference ASC 606-10-32-40.
2. We have reviewed your response to comment four. We note in your
commission
arrangements you consider the airing of media a constraint and only
record revenue when
the media has been run. Please further explain why an estimate of
variable consideration
cannot be made in an earlier period. In addition, please reconcile
your response to your
disclosure on page 7 hereunder in which you state that commission
revenue is recognized
when it is probable that the media will be run. Reference ASC
606-10-32-5 through 14.
3. We note your response to comment five. Please address the following
items:
Quantify the significance of media purchases where you act as an
agent and those
where you act as a principal.
We note your assessment of indicators. Please provide us with a more
specific and
comprehensive discussion of how you considered the definition of
control in your
analysis and whether you are directing the use of the purchased
media and studio
production services.
Please discuss how you considered the use of your Annalect, Omni and
Accuen platforms.
In order for us to better understand your analysis, please provide
us with representative
contracts and related invoices, if applicable, for your purchased
media and studio
production services.
You may contact Kathryn Jacobson, Senior Staff Accountant at (202)
551-3365 or Robert
Littlepage, Accountant Branch Chief at (202) 551-3361 if you have questions
regarding
comments on the financial statements and related matters. Please contact
Courtney Lindsay,
Staff Attorney at (202) 551-7237 or Celeste Murphy, Legal Branch Chief at (202)
551-3257
with any other questions.
FirstName LastNamePhilip Angelastro
Comapany NameOmnicom Group Inc.
Division of
Corporation Finance
July 23, 2018 Page 2 Office of
Telecommunications
FirstName LastName