0000000000-19-016057.txt : 20200102
0000000000-19-016057.hdr.sgml : 20200102
20191203144915
ACCESSION NUMBER: 0000000000-19-016057
CONFORMED SUBMISSION TYPE: UPLOAD
PUBLIC DOCUMENT COUNT: 2
FILED AS OF DATE: 20191203
FILED FOR:
COMPANY DATA:
COMPANY CONFORMED NAME: CALLAWAY GOLF CO
CENTRAL INDEX KEY: 0000837465
STANDARD INDUSTRIAL CLASSIFICATION: [3949]
IRS NUMBER: 953797580
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: UPLOAD
BUSINESS ADDRESS:
STREET 1: 2180 RUTHERFORD RD
CITY: CARLSBAD
STATE: CA
ZIP: 92008-8815
BUSINESS PHONE: 7609311771
MAIL ADDRESS:
STREET 1: 2180 RUTHERFORD ROAD
CITY: CARLSBAD
STATE: CA
ZIP: 92008
FORMER COMPANY:
FORMER CONFORMED NAME: CALLAWAY GOLF
DATE OF NAME CHANGE: 20070604
FORMER COMPANY:
FORMER CONFORMED NAME: CALLAWAY GOLF CO
DATE OF NAME CHANGE: 20070604
FORMER COMPANY:
FORMER CONFORMED NAME: CALLAWAY GOLF CO /CA
DATE OF NAME CHANGE: 19940222
PUBLIC REFERENCE ACCESSION NUMBER: 0000837465-19-000002
LETTER
1
filename1.pdf
begin 644 filename1
M)5!$1BTQ+C4-)>+CS],-"C<@,"!O8FH-/#PO3&EN96%R:7IE9" Q+TP@,S$X
M-#DO3R Y+T4@,C7!E+T]B:E-T;3X^)RE5=MNVS ,??=7\+$#4E62[WOL%=C6K>T"#'M49+G18,N-;+?(W^Q31]E)
MEMC.T& )#-@2>7C(0THK;P5!0L']DQ"B%*(H!EG"A2Z?&5Q7\.@]>BOOA7.T[5_\."2^>[^9=X;NX? )M^YVSZ-S9UT,!C$E&">,G5?I7=PR
M8 B:>V=T\)[ ,6*GKH\2X0GA
MTXDR>,L*&_* KQ)M9P5Q4Y7%7EBS#K:>\H'-6 ,VRJI[99*IM7-H.G2F33
MSD$ZZH0K88MZ(;(9( F-_D8+2#FER02$4R'T0S)LDG%?? '[Y6!"AEYXRF$3^B
M3!#YI\W':ZT.:9=-96E=ID;AU%%4VGK.S[ P1NZ*9V!/2V1JU;H/)(*;VD*&/514
M=8NN,S!5\Z:;9=V@+?(;A/73KG!GCEB?S\P1=='15\A&5P8PJEC4RDCE8FP6
M%^N."N+F.3FAVDXP/^''>F5D&N]Z^L#TT"CLSL031.\O'#\8]^QWC7E:5:QG
MIR:%%T1TTMDTQ8AA)XYN0?VJZTX(=\K8E\J*3H+^R%?'KE.?TM&!V]\-#NA>
MF#9'+5N[Z8I_T#QU_0\SWON3#0IE;F1S=')E86T-96YD;V)J#3$R(# @;V)J
M#3P\+T)I='-097)#;VUP;VYE;G0@."]#;VQO7!E+TEM86=E+U1Y<&4O6$]B:F5C="]7:61T:" Q-#(X/CYS=')E86T-"GB<
M[<&! ,,@?^K=X 15 0
M
M
M
M
M
M
M SP!1
ME;J9#0IE;F1S=')E86T-96YD;V)J#3$S(# @;V)J#3P\+T)I='-097)#;VUP
M;VYE;G0@."]#;VQO70A2(8E$X=OG3
MK181$1$1$1&1'TC*%,_/SX^/C_?W][\.W!W93GIZ?7U54%#
M1$1$1$1$1"[F[>WMZ>GIX>%AO]\W L6O7[_N[^_CJ\=SB/*_?_]NJHK*D3)>
M7E[4,41$1$1$1$1DPL?'!\85OW__QJP"F6*_W\>6V'X3[P],.(*7EQ>$D3Q6
M_(U_TR3CAJ6Y^?G[4H%HD3_><['@9>7
M%[Q1L@'[_?[AX2&V7WY6(B(B(B(B(O*/@U<(+B'8/#P\/&RQ>8@"V&9D1(O\
M'#5\?'SV/?Q\9&O2*B:*D?4,)10
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MFKI*&'!PHS3 R_N<:>5[1^&%D41$1$1$1$1'Y
M&\!T <.)H1M%JA#I&,)*O^8'R5B:*2^D_M!H%YDNA$H(G<&_V&_U1
M#+N.^"JKBAVQE\CC9KJ3VHQZZ+X2($\KG: !AHB(B(B(B,C? ^86L6:OH2T(
M9S$LC-M(RA>9A80"Z3:"6(%&01Z06LFN ]GA_OX^Y8M,<5(M/;".R,II=DH?
M6%GT44/SI%)[B;VV]X:(B(B(B(B(_!&P-&"-WYA;8$W1YP=9#NH$Z4<;&PRT
MCFHI@7#1&S_$<5]?7S^.3%J(L4<4)@TKBDH*&L3$B"-FAA'V:AQ2\HQ2%=E]
M]F%I0I*FKTJ3H$1$1$1$1$1$OA/\1/">Z 4$M(O=*-8EZ@&J0JH$NV."C]0N
MTB7DY/+_8X5)RU\.Q(?7U]=JN;%\-J[(2@C^24*3:A8""#A$V,@F<2+XJFSM
M4Q$1$1$1$1&Y$>E\L1;8(;4+-($F6D7-+4*2TS1FP/6CC_89>\6WSP>B?'4&
M.0FA.Y^>GF)?@GDVYQ*'H\+' ^R5CBIL087(KZHVLA90E-.)7AH&_!01$1$1
M$1&1+R)C5JR%Y5Q*3,NA?/'X^!A;JH9 (,W8$L6J]0+Y3^.K]-= ,TF)X^7(
M:X$ML2,JQ]V1; S[XGC"L7 MX=12H(@M:5-1:ZB!.JM*@W9!^-#\EN"?P\2L
M(B(B(B(B(G);,L''ED@.2 ?I?U'-#V)?\G&0#:39,;9$R31FX'!1V]/3TS7^
M%U$M@@9966OE3HIHE[(Y)44GD$555#81 FK$%2XGXB^=(%+AYP@XL.O)P-&:_
MWS\]/65[D%!^'4#9R&:GA$+LCLQ+PG8RKI)J)(^(14>0
M*46V^SYD3(S]?I\1+=(&(^I)4X=8\I.N=&@%\0TTAA;1VMB2@LGS\W.T)TX_
MG5;X*OHD=L$_A1U)94)XC3Y>J/*%B(B(B(B(R!<1:VV"5Z0A 5+&? T>*W1V@7MC!,A:&=J%T\'".5!
M(I6W UD)^4K,G2HB(B(B(B)R0S(/2%I;^F,3/S!P?N?Q?CBE%_G[S@VAP-)LXG(V"P<;,
ME)K:!?(%ZD2J%K$%CYCL0ZTO1$1$1$1$1&Y"+,R;&!<9S"'_C75Z+,GC[W!W
MEO 9 !-/$Y;MUV0,^4[B+-(&(^U&V-@$YT2I('HG_Z;924"VULRT@GQ!6(P_
M=6HB(B(B(B(B_SI]<$Y6W-@/U$7]T'\D"M>8&$2JK&XC_Q893;3&Z^ KNH58
MG1F5-,ZTFE70F;$QMV">L3%IBXB(B(B(B(@TH$O$RKIN?'M[R^RE^$U4ZL*\
M0L0,1(]_>IT>IX\'#>E%ZO;T :"0:DK&FV08;T7-J*E41$1$1$1$1V0)K
MZHSG$'_3I@+[@4:RB(V$L.AM*O"A^$FQ':)S\ I)DPE,4,@MD@E'4&S0)1 ]
MD#NBBZKQR>/C(P8;?_",1$1$1$1$1/XM8EG]ZT!Z1F U0;93@F 0@9/$IJS?
MHS#_UJI(&/JOFUOT9-+8^%L]9= N8B/_XC]"D,_&P21U'KJW1L80$9'OX:-P
MLD!?9O[MR4,,O^)EP<<&W@^L-6:-/CO8I/#&;IQ KO"7 S',K65"YUPVMK^O
MX62SSZI_8^=,]JJ[QU=QXO1 S9DN(B(B5Q*C*ME#\/
MK(4>PE(.&H49$3N_'9K/U4,T!=:.'M42&VH+V:1:VYPF1G1S%GWAF ,,PW&?
MA)A7&12KVFI29VT&;SHN:'_NG@6&K=U>?UJ<+L>7"UOV:AQLV3=.<]]YUQ*F
M.VZ&-1E'1$1$-H)+2$ZQB.00X^_;@=B>U@(X@^P/\S'<*-+> 'D)_F)K$&\
MS1JS(D.2YH0M76;26H/9"\7H(O*NFG9$1.0[27&^7WL"2@)E^N=S79FN/< 9
M58<^E7GT&A.[QDV:T]39>W0.R9$:/HZ9T.<'BK,[ZTU$S16>0UZS95^T%U)W
M;6S_4+O( D,CQNWU1ZMJ_1E_>T[F7\N+6'NU/_W=86Z .>OV7A41$9&$=7=.
MX7 #842.<3]?#,4$)C;&S"1G2M4Q)+[]7XW("#6[@W$%IQP]4Y.2?!Q]:O:?
M+2YJ]RZ'5U2[8J$A(B)?32YIK]%]N/
MW-[/+JI!8R\C#.O/,9IFU/J;_LG6,EZO]6J]@DO1D:)A<3BNU+"K^[WRI'I?GOIO
M:A=T_L9>G;1D.;JB##46$1$1.J17JM8B/Z
M?Q,N$F8X-?G(ZX%J.DNGT=4Q7V+:'%U*#PZ\[D+M(N&
M->UBK;:U2QB'Z9DY:3RL"YVD6TO._5M:/4
MN5.&MR*J%2XD/SX:F(B(R!>140
M?/U$@--\?4.RU'Y6AHZDYXB(R%=S*^TBBB'@YW"9:_SOURYV)3ADLO9F88MV
ML72N$W-.QO_$_G"R?M^H7>2!<@*SW?CD7.UBV*MK2DY--#9DOY*81D1$1":D
MMTB^/B C6"U3IV1,P-C"Q /'U?^YQ46ED2^8&S-+B<\GIRMZCHB(? \WU"Z6
MSV-EC@+_0^UB*1E"[[HG*M=Q(?MO0K1M^06":B,C7D682
M:V-9S;^Y4;M8.OGBG]8NJO8^\?)HB'G%1!/(,YI(1B>UBZQDWY&=/^F*+]4N
M8I1OID\53"N'=XZ(B(@,08A(D\7X-T9P3"ZKD0 )4G.7*,] 3UCU.JF(>IX/
M.!8#D]Z<$D>WQ.1GN]2#^F'03A&1+R)S/^V.3@$?1WABUV_[W=>TBV5D??$'
M?48:3X?:VJI=,'PGT3FQI4;=G"_S$Y0' G*25#U[-3ZGK+ND,PT:;27[0OM1K6VQ.
MKUW4Z)$]+,S/&H8PV,B9P+!+YRDV,L)&WV]+B19X
M\??AX8$7-[']IUI%1B?@.Y.F*?%OXS=-ZI:[8TK9ANBH?GI3DXS\/O!-YR,B
M\K^$L2]&JX=(#PWY:#=I'?KBD M4S?;_6L)XZ9]1)/((=(?U+X
MR-#G]$"ZD,Q/7T1$1!+>%J6)8WV%\3QZ%<+["ZQ5GP\Q'-8B>K&*9V;":(YA
MY]I[JW^:5'50+99C#_1FO73"_?U],[>IKM:[@V$M\9L5LI8/_(&89(4E5QRR!?$K2*U??SE$ 33^(XS
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M"3(0)5BA-^F]B%^QYA#1D$87+,")_X#E %(&!AAYQ'^"ZM^1<;@$'BX[&,8=((_^0VB,B(B(B(B)R&;SKSZ08L?2.%3%F%7T4BYKM8K_?1\DM
MA\"UA$4]03-JDG=6_9DT+;;_S?)%G#N.'D09C78BX!#U(AH?W?)R(!.LG*R0
MDEP"!**HA$2H5+4_T@3PO#_PU_:5B(B(B(B(R$V(%7':!L3RN6
M8_B%+487RW%Y'DM[Y(NHF33KA+G MR(SJ.)G$=O_POPC^+FD_TMT%\(";<:P
MA @A%*N>.!,PO#:00V#]%@C"XR
M< ?GE1$PXG30&;9K.TW"D>5P+=( AM"F^54<@@NQ'+QX\K.(B(B(B(C(SX,0
M"OEO76N_O[\_/3WE\AQ0$EAH7W XPDOB*E)#7J!:X&H1!\VXG7^#?$'84LPJ
ML'D@!@5F%6D:@7R!JI#1,+8?!3DH:N,2X+R#$M(((/$O+>%?K$'^0O\:$1$1
M$1$1D>LAP\A<&8B5(BVBV$1$1$1$1$?FI
MX,21,25B%8SE0TW'2080["7P:$!\.)D^8PT,#&(-'O5@M( R@%A!AM9JS) ?
MMB_/R57Z6KC,+"$M+HC&>7]__W X0)7CHP0$O^20F5[F(N&# FR'.TN,+K@
M7&JW-(I3[&*V$1$1$1$1$?F1L.;E,Z_O:PP*ML>*^->!6$>C ."P-2
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M?A)8"/ Y'490#_CJ[0BQ.I?#HI[8#M<R.@3AP;\D/:95QL880.W*XFFUD
M=\QCTNLS]0H:\D)$1$1$1$1^&+E 7HY!*1MB$4W(B%C%HU>@'EP6B#+!C"$J
MQ#DEW480); TJ"8?:?6!3<+N[%+27:&?4CWQ4+TT30>MQ%*7FG\@&/.[I@I-5.283DIP[]4
M&'V%T'&EW<7R.5-J>M9 FL>DC4I*);3$F8S\0>+WDG%E@8Q"<9=.[+5X%+QL
M!GUU2S.0%M,RBA_IVF\DFE&/,A$AFY)]]J+8?+R
M6?)M"O0-..NB!,BJ:U>$ O6*T*0;1NEINGV+C-R^_5?67,V3.<+Z2SDOW_\$)H>HC9G<
M)/4<^YZ9/W_Z4]YR<5^NF&]D.^L<8\L3.R$'?5,#3]KY]6+'YGI->F;+;=GW
MWJ0-_>^H+]S<(9,[BM-A9EC[@9[<,BOKA\Z-3\C:,R>/-1P9\>">'Z7OVTGY
MIDDGSUU$9 OD(>4S7A*,6?FPS>=2/.@H>:N%>5:5?A:L1+"I(!DH1@Y5TV"I
MPK)][K4=7PK"<]
MV?R()KN\''+*4RQNUXG M:5G$)3Z6Z@>90L7^ZARH>?/D+4K6%L[J8'HXFL3
M$M37YG"3V4OS.QT6[GMO_@QOHJ_WMV(J$\G/#CR
M4KR"JS(-I;(0SQ3B$^?"^R[U2+Q.C%6/Q]^\KJ;?$_#5$]N=^0W+S9K#>LJC?KEP1%9QB
M:TN\2<_T%V7X&.SEE#F7:1=#K7CM"NY&,Z[)[[JI8?*#:K2FR1NEY?,],VS2
ML/>V:Q=K;\3R(;G6U?U%G_P6>HO?X4BQ=B&&G5D%V[6Y\?8[$GC[=2!\^'/\ODFV@71-K"?3-.R-#8@U4A5,YC3
MYK/WI+GFKINW8*F+BL[\=A*X@T$MVH-5=GJ+[(YO(E))0*_ QI*SN#ND<[VR
M?]!/&$PG;]D0\_-D.7$M].3[J1-+7M]@'L\/O'G=,YSSU$5$9@Y:8[@@:A:A
M=X=D1AA7T!)B^6:!X?+SB[2+^Q'-[[I_(IW4+IJ.:MZ+]9UVC7;15]A 8YJG
M7WT!QU7CQN"*-&^HKW=Y:VP&MBQX^W>U^T-^\&'A[=H%M]_39YJ0RVN_A9/4
M6^N"'POC[_#2URL^/,=&^F"@?#FZP_ KJZWYLU;)_K,+[S-A-
M4_<'=QOL)V\2+3-G05PCAHS]T1&U7QUP!8>BC6/[SJ!D>Y2NTBRBP5DFSWFF..-_G)>]0:X,9=Z3J9>&5OIKJZVSM(NU.["1#BY(#I5WQ1:I
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MFDZTBR%S[6)^Z)MH%WU[&0.=$.CBQHKZ>0"<"W"P-#ZXB;:Q?)9OICW
MS)"SM(LACI
M78C(3>!95S_O#E-3XF1B94U0(.88F)8-[;0OAL<@T4'K<,, P;L)WM+NCF\'
M>,A/!@CVNCO$V.PA*@4%D,$GNV OK&&;9SB:!FK,35PV_# K=>.5(5[6+O!EZMB_D\TZC82=C%"1Y07\=PH#7J]]($!/MHG$<
MN&:QMO&4KQ>L+C9SVJY4+YTE3W,Z^2/%IC0O1&-@EG<=T[;)H6OOU8C-O<]4
M'K?> %=J%]47HQ_[AI>R>4+B?G7N$W)R13.[!7_&S,S"$4D3@$7'K=)\]'E:L%^RL&UEYD6=,'RC/?%AGZQ#SZ)J%Y-X'?6I,K^(>2FSG\(]8+&
M56B>8]6":Z)=U BQ5_K5UM4W;XOZB\M/YLK*+S;JF-B)]'IS&?,5YMY@D5GDA,M"[PS(WA9CA*\I D@ .K
MDBJ8-ZLAG";X/!RU>:[V!^K?8S([Q4N%DQI.U:J91XZP!+M(W0.?$0PSZ-(+
M^F<-YE0,'WVNDU26<@O#+JXW5[[!%#F7)D;B&BB'PQJVY!E9TRZVOV0_R5=H
M%VBDY$ZJ-+/6N8OQ']V9CGI'+M(OM'@H3ZA-RRWE5@[KF0E3M(EUQ=^6W4Y?V&"1L
MURY01'O3BSPH,Z4KM8ME'/FLKODLMI./.QY?47E]D9%I1E-D
MSE4YFD!F**CY/H9## N!M-/[.'@7,I#%H7FB\I8P3Y]E/B)Y\W2M0QZO.?(Y
M3#MI9 ;J3"7AY%.:N?&6KDO3CN4XY7@^Q*^&)G%#CO5(0&H7\OW,,]17AJNJ
M'ZQ=G.2NRP#25_*/:A=+"<5YLA\N7D]5>3DWSNW5:_.:D:67+_*][<_3+IK5
M^B0&PE^K7>1M7".';/PM]!>TSR;)I.5B[8+;B0E53[.>_3]K%U6#XNY-^9'?
M;UU9;[&[6,J]P2$:<:,6N%B[2)O;DU=M[3E_Y1/RAMI%9EVD6-3')%I<,Y >!(2J!QSB.=#VI%\
M#B,LY%.1KW*2V5L5(LOS;&>X82C$3X20I!P=H8,AC&=O?4JG1\GN: %"21Q&
M,OL;EAO$7T)IV9W2+FA/M=R;3![H.J;B] \O)H8VV-D;:A?R!_DX1.EI;5&Z)I#=4Q=>L+VZH753![5QGS),^(\/ @#T?GR-VYID.
M"]]DY0OUH$.WB+R[3CK^I$+5+"V;V YKIA?#"]I+=M')S1N-M9[I>V^8_B8+
M-R>UT6?DLI]);;]2F5?5F6VM\,E'AAMK%,C*Y9"J^=M%%1"ZC
M:A=UL*C6MOO/J<-9XV]\"C%>/!]2;[":3HN%.ECSA">TT?,A]7D&N& [(==X
M_M.V=-G8'9.//)?@%>EIF(]-9B]WA5\E)%?]3/T956-W?-N2_;,_)D+-2!2T
M.?[E'$_&<*;:= ,ALM-:^4:[:)2!FC1-[2^R"W7:Q=U#7AQO(L+?BR5>@/4OCJY,#QI
M;)-MF/_*=E?G&6GR=:Y=_;6%VYH8U5M?9-:SW2B,89UU-&=$OZ6G:C.':=JS
M,23%94/\Q_G15OLK^+PA*VC2J"63>!=\]?$Y9VC32Q=H%TNY0W)J5\_]5MI%
MWVD\W] TZKVTI9+)$[*_9^9!*L[ZS=8'0C,[7=,NEI'UQ959PT1$>A@]^9R!
M+/H!%XDC]?"SGD(Y3/"N+57H.GXUKQC2O"$#1..7D8,.M@>\BVG>7::S27YH
MJ 5V*Z0+R=W1^;I&+V?64>-R5.:=PT0H19CT^)B,8E6[6([N-G6"--Q7[4+^
M%"WB
M)">OYLG.G'"6;\[P'"?>B+U\<;)[-VH7=4VWT?:^CWZ:#;?2+C9Z6,#P/IP8TDPMZH6.B72SK :_4+D3D5K ,7XYYY=;L#YDYI./AN=I%.F7D
M>I^!K#[GF2\1C#;NRN95=/\8]*?C=T%1B9I6)@I67'&J>.^VH5\/WCLSI\/=7K3
M3W[.U2Z:F[Q9:$P"/^)[Q6^PGW/61DXLJ4XNXN;:15/#VNO+?TZ[6%M=SN/D
MUZ.I=K&LRQ?7:!=-G1>(0N=J%WU+AE>VWOS#GV%=
M/++CVM%YWNT"/Y'YSW!B
M9(6T,D_"-9?]Y]I%(]VLW9E-DIV^GKEVL1PG\\TO1>U"1&Y%U2YVZU$:F#GP
M$+M NV#@PYF"IR+/V%Z[P'^3(:"Q/?MU\(S(/"-,4)?# SD:P[#R:SW)VG9V
MQV3?-*_:=>^.%B!I+X%M!J?&V4U6"OWLETKF[H>-=I$]V=N=[LKB2.U"_@C\
M/'\=PLOT1ESQ:ZIFI<,G2=4NG@^A;R:@<#8U-"_LT!51_'CUB1#:3.2:2IK0
MA42\J3\H'CN-3M)WR$GMXN-S=KSA_/^OTBZB)?.+PE5N&LFJ 97UJ)E!
M=27[<,W8YN-S2(=^U3G7+I85^6*+=E$=A?(FQ!^S/KJOM#+"NWP"[P76SFC_
M.7WD2?^=Y@4K;SH[]2'<3[6)MH;I69N@E<3* R3 -Q/!P?<\T
M3\*/8SB@7^MN%(UC#AZU\XM[012RQI>JOX+-7=IT?B,OY!2.UO)ZI;&'65OM
M#ONA>GG47\?%VD5=OS?/_"NUB[Q%&?OZ=,]-9/5^+*A/R!RP:LOK$W+XJO%D
MN*?GSPE!\HIS"U5+X$E7G-0NEI'UA=J%B-R*ZC."HP3C3G6RR\ .#/[:,VKV[!3RW.;NWHR0"T1@"
M*-7)WJ_/OB>3%Z_T:FH=]:"-96E#KUW,V\\ H78AWT]O7%W=N)H?RYJAU[F_
MY>&/KE$5LB70;&>NV$_2&@UD5[(2]_6LV5V?U"Z6SSK)R>GB']=[K[]S=N=XT#>[VW2AOYEE>,'!NH-=E19!9NX(L=>?W2:VDW[+676O:15[W/O+D9=K%
M4B94S8EL5[&Y6;/"&WA*IN0E),0*/N:]BB72S=PT'M0D1N1?5Q
MR.<>BVOXU?G6G9MG!"$W0U_>'7)A4#EZ15:%[0=&=TC!C5$!^S8F;?F0WXVF
MB!? V?6&'W='^XKT3V$+60]0?H:2#F,H[R!R1*/:M"&9:$%T>&H7?:L:4KOH
MYW@B7\KP1=N0_<%]8%C)3;2+N/.;]_A#XF<[\6+ 37O+3&^_[B;S<2J8)S2^
M)\WD^6_3+DYRUVD7P]1(PQTG;CY#:N>35C)Y-GV=+
MYK=0L]B?N-D.A9T>G%SZI\?W:!?+X:=]\B[J34>:IO9:<5_#R:!>NY']"6'-
M>ON]/-S0TVJB7?#5)$;TF@747+OH;?G6&/[>,<3J(['W<,,,?TU5NY@XH)W\
MS=X=[&FQW9J%R)R.YKX#&MA=NI<^ESM@DDOJ49VQZDILC-/MGQ7
MPM0"?XU\@/,495C!RN+N8+E!F29"16Q\7 >_5QQ2J*'ZPS*UON_RQ.V/(>6Q
MN+@[9C^AG74(Z >+.JFN:5#Z0TRF;9P[VA$58D_8[\*D6NU"_BR8Q&GB5SP=DQAO)&YEQ8K"(+2_#K&Z>47',36UKK\\2HC%G^>&DMVG>ENO2'Q1#/OS^]MV-@97=!0$G
M,P3TR9,E/M+P76:1LZC#3 )&5ZXYK$S
MN86:ELQM)KG;:]ZTW?'E!3.0QB]@TMHM%_P
MY8&_'.U_^HN;W_;/3,QQ^^N8U-[K[XH:&2P;/[\5\:XZ>=WI2>:*^\^/N"V=
MF=YD%SPAS_HM]+_9;.3)D;'^!.9'J9=I/]*+1$0N +6\;F$ZD4^S_=%*,)^W
M3\=T)!L/P<"48S+0TPYB':T"YRSCF?
MG.=7:A?RQTG7?GR?)Q/UNLO[.>#HO:7.= PG^, %YU(KV5Y/=[_:C--0?
M2__MR=,\V2WUFIXLW+=_^X5;NVK#LYATUP57?_X[7=N%!R#SF2]Z$A+>_&1C
M-C:5BWC],:-M+
M.AT5D9N Y4.__>.83GI?^'Y%;I
M*,%&/ TW:A>H'S6]:8:)J&DR&O$V$W+MCGXB&'YG#;MCG$P^I""0%A?5^J*:
M80P_UP]WQ\RGG&^CF7 L@DC76!S5%@ZCP: 1+NY*B$XL /,$>=.Q9H*X/X8J
M78Y95FN=:2Z2MG^87N!H<^%M(2(B(B(B(O+7@!$%GS-7H7BHB(B(B(R,\ ;0'% .V"^%%8( R!>MT1 9>]&]QV,3E@?5^HS;@
MA0$X.S31FZM&@0L)X:1V1V>-W='K9%<2'5(YR4QW1ZN&7->GEE(+YX=?APBB
MM9'I&X)^@I92XXXVP9-KI/I>6,"@I4;LS&)K\4,RGC:NK 0^Y>PX]PP)E>>(
MO\]VVQ@1$1$1$1&1OQF6QNF/0(3,FC.+D&NXD\2_K--9N9_4+G)QC9A G&2\
M&W9'CPR.GDXB=;E--&.B1A#D*L-=ID1 G,ST%LD4482#F&@79.O@>8ZF5-C7) *9*XPY%GS;S:5
M:X$M"AU2C3?H^7F2;A$1$1$1$9%_!5)L\#FS@52PFDAWC^48,3*- 2;$PI^5
M-4+$,'LI$3BK[02N&43)2.N.3'JR.R9:11CY^/C 06.B7:3)1_49F=A=H$+$
MCK2!-*FT:BV(1#2#(^8Y5IFB9Z-#!VXRZ!)$X S2?R2/51/!+ ?SC#Y[BXB(
MB(B(B,@_"@8/K'.KB0+A(T@R$K VS]RIJ6.B!B8,[1RQ%5NX@/O7:!L\::
M=H'X0+(5 G)ND1J:G*?#DX6-V4NS8?EOIG?!.F5W# E"@?03:5Q(1$1$1$1$
M1/YI8BV\*W$=4YU@C9P"0MI.4("@D2=-$4A^6GU&UA;U&1H4T0"O!Q0)P :C
MJ9P$)1/M CGB NV"2!K;PUWBT#'1+O+!><5*[R%B=:X8?V-+A2F&5!4B\XQD;7%<0H7LCE(2+3%!JHB(B(B(B/PD<+[@,ZMCM((,
M?Y&F L@(+.=9F\]KQAZ@IDE=2Q6:X.] / UL-HC)V=2,*D+;TIZAC]6)-($(
M<);=16W/W/KBXT"C*C1DP-+MAAP9BA,5 DV)E"ND:T%7X=K5D@08,5"GB(B(
MB(B(_"18[?*9)7/&Y&RT"Q;@U9WDY&(<3X>4+#)E25W7\V\:4:!+9)G>A"!S
MD:2\T,?JK-I%GV\//!M04Q8$RY0/S!6.>NB[$HX"QK&
M63\:0)M))A$-7H2!UC#A0OP8GR\GNF TD]YIH%XTT<5*[R&807P+%
MH#\[A(NU&*2[H[/,93)"$YXT[6'BK*,QT0FQA?PLM?[X/#13$1$1$1$1$?FG
MB85PS4R!:+"4/!>$JLC/J6Q@AC%Q3TCMH@H"0\N$FE4DZGP^,#140$))-Q#,
M-FA)-CBU"U)OG*M=--E1\ZO:# 2?&EBC/ZGM'B)K_<:%X-_HHNSY*IA4*PLB
MKQKL0D1$1$1$1'X>1-%D"9PI/]($ I>$?B6.!<7);",0*^ZW _&A*A5YH%U)
MQI&?6;PGN:BOYAGY;\H1J5T0&W.C=I'J!P$WF>DTX]))S-!A/N(^-Y8@IREG.*B(B(B(B(R#\!02%RS1OK>M;CL3:?+(0W
M9AMI=DG?DUSF(U-4$0/Q@9*9!C3V[<-*9#*.&@'CI'81!QUJ%]2 (4^I.Y),UV(6(B(B(B(C\/(B3
ML-'7( JGGP@V"1M?]*.09'!+/MP?P!(CU0 6[QGDD\7[KB-SL/;;,T!$#6&1
MG_&+X7.*&*D)[(YI4FM6E)K=%2>7QH!D=XS=P3E>G.FC)D#)?ML=K$'JX=+<
M)6UF\"6I.55%1$1$1$1$?A+W]_=;+"AB95W3?;+PWQ(-=_TLP :P0L*!X?'S$5H)ZH,.-F]($]697'^CUJ( S%6L#/U! :?:/*
M(+W*D5) [H*?R"3G:14KZK]H"!QB8PR0GB9*)P%1^1QU8GJ!1TQV174M:8)R
MB(B(B(B(B/PD4"&:V)@]F$_4]_LH#_,=B581I'$%KB*Q;U;8"!>( [%4CW5Z
MM9W(-?O=,8UI$,6H/VT5L'](FPUV'$H?N=Z/W:,]%&LB7; %$Q%B:]2F$@[<0TZ,T +RJ@=C3L/_4EK.1891BX^KHB(B(B(B,@_P3N.'
M#./)JCF#26Z!F)98;A#[ G,.C J&EA64847_^OJ*XT8L[==:F_8AN\\.( UW
M7?+3!)>6 -V #"E1N.8G3:K#2S3ULF 71!W9%1^<>BP4DK5]Z3<=1D3D>\"=
M+9E_VSRHK]EWK3%$4>:A'8_*>%:O[5CKOZ#,?/]W
MX=S?-X#"/SD6O]]&=)
M'@,92@@F!*S9L5Z(EF3"#C*$;HPC"M6E(DF#BF;C%JD!9: Q^>A!S[EXGI8!
M2[D$&2&D:7#.9SX.L"]13R\[KHC(N<0S&?LT;-N:YU[Z"?(0:X85XB;Q4(V'
M?R\.U/Q3=]GZPF;S;1K-^C$JP;.R/1?.&@V,]XK 3*),6CV<-
MW^<2IU#[O(&0X%M$@"'1\AJFN[\0!+^Z_BRB>/,R
MOSVB)T].8.*4Z]4?*A*QL>\W?LXJ&"(BY$!)U>AOT_ZYC6[]"H$FMN\ET[F6(]OFWCI_>W!A"0+X&];
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M?YE(CS%]O3NF;67WW3;52$3DAJ0(L/NL#\3V3!L]7$;EM_TCO3>EF*2/Z._4+G:CM?^:=H&CS?R,HJJA4%#_S87M9&6=@\[:BKXN0OL7![VE
M1S,&_1'M8BAS51%@8RJNVCEKTAD7XB:GQOW0#^)IP- 8\%1+F_X^J7=1\WJ(
M^][:4V[2 UA+3Q%-43)C?G+
MPAP"NY3G WU,F&$+LT]2U^JUB]JV224W>>DC(B*R'*=5C.\(]69VO=T>C"R)=Q%=1<_S+@9AHY=R2
M(7AH<9%<>;XYS:"?F=BG-0LN+;4Q2PF%P93,5Q@B\D?(56'5 6K8X5RM5'.^
M?N6>\+CC49^KK;6H"XV1 ^Z-B-7QJ!RN!Y?/*@'6=ST3<_TMV@6C3PUB4.L9
M:A?Y,GVBJ&SDI'8QO&I#JO]FW=Y,!G)@3?7@K](NEF*B!4Z_N!+@6KW
MTMR$)\\E)SS#NZYF@:^_G6&$3\A?(O.K:EBU9E/4^[%64<@7+B(BKZ;@T>['6O6NU)+K:[X%UV(U_0
MDJ%VP9-_MQ+:=)C1HY!T[#$3Y
M#1#;JBI"37B3O'O7WIND:5-S?3/BQ.X8\JNQ*1T:;<$1$1&X%;U)J#HLU2#>-;IX]D-6=7&0S/KRJS&H[GV0R>O7
M3'XUVL93G=JWM7.T"Q\:&87:/+$]5WZ-=+)]C+#!,JUU< #=SDW.D#^AZL7:Q
M'&=WN.5FA,\TGND/EZ%$J^W31+M82E?7WU?SD_R&NT)$1/X_-#E$8O#"+&$8
M8+,?1MERVS18C(;H#,U7;(P"-( 7%FE]P22J#QQ!1GCF"=A@8+:1R>XQQMB=
M F>3R\BI';-6)W4U7SNW[JF
MK,'K6JAY$R9C"DLPH?>?WOCQ5ON!:_U7:Q?8HD6<%Q[@51.AJ\H@-
M8X%NB54RB=;"M_W&H;93?Y*-J6W5+H:F&HUI$^]9\N=LO L1$;DM3'ZV3#FP
M0JQS&-[I])8#UU"#5_?;20Q'W.]TN_TS82D:3#Q1NA;)K=&NA"1OXJZTF=M4E= ^2([K2.&1A2-=5S/,.K%9 64
MU@6[+JGH-\3J;%(\-"_3A\-']D CB9,F.Z',-=I%$X[R9)2#7B0?QB%I1LR4
M8OZX=K%1JX':.6O!,+/:FX@;36X=5(M)S37?Q_#^7XLU.FEPE2FR5:D_(+A5
M\D+S8JNI#4&#<* !_E.]Z_%YW20B(K(.8_W&\86W0A@_4!ZSX1C=;C@\,3]I
M1DG$"@9')B<48"[-P$W#TBQF)FW?&!?3-":74>Z;GL!.O$F"W9
M0@Q%^F@;""SYMH+)@V\N1.2/4Y,V]BO$CR[M:?^^.&O@X=RP9M!.S6O+L;6@
MB]^O72R=? &3'*ED<^@;1O2G?EE:.3='ZM"B,IT%AO4,M8NEDR]VZYEPH_Y;
M30_FVL5'2<%[2<9^LEAO?[$BSA3IGQWQPQ]>:!FXIWS
MWF;(WLC0#A-KZE2!>&'1S!SRY5?F5;FN1T5$;D/UL.L7=#5STVX47CB7V\.%
M57[;V-U1[=TAZ55\KC$MJ]5Z,PS]$>UB&*8.ZX70Z$)$1+X"5/=A-'C(
M,3='50;'##,^M)2X>0L9#7$;(;TIK6)&@6](,TG#%1=;1R9:L13J%C
M[([^F!GH+*TL^(PR@'S!G&K26A0,S)@;?6,+.>)/YLQ ',XO<@$;>-A2J
MB,@U\$1E0334+O+;9D&=KZHGMF3Q&$31O3O$5LKG8;YK[O.,L&AJPAWG7KQM
M[YU0$C1P#M=[&>0RMG^,8U&PI>;AV HDE*PJ1YY1OLX>[@C9GUM&7H)4]\>J
M3J ->37[O&-]/T3)B?O,]2&;D+#NUF$D'0ZXJ;&LF4GDA>C7XW%KK65LWYT3
MY2-O[#E#F2A#BV^_QFG2L.8T,4WI?Y+SAHF(B-R$G!7D\,1*
M'T6BL1>M%@4Y/*5IQ-=97V065X;(&!R)MYEV(\Q[$1S0,9C^88!!4*R:^70R
MF^*- Y_/]6E=#I$W:&1.:Z.2WKD[Q9;=,24*R0>7HP?W#3UQ1$2N!QDAZ=?[
M]=O^*PSC)SD?:^:19KG$8QFO"N1HTDZM+?!K;9/0A5FFJ0=5?+@[EG(T48-J$_HRU/?BH?7HB-QVK<,QMJ!ZX5XW)09KC&QT_A>KN+[/,AF0ET
M;?IFA"8=P6C"%1).X.WIJ\#$II E$%9V'L&1A,
M,:*([?&9=RMX=WY%4/3Z.N;ELS=*\\)K2,HIC90D(B+RS\%([7I61$1$;DLL
M[=,"-NTHUC*C#>,PY%Y?FM,S918D" QZTQ.$V-D-B I=-A(LT%N5$#-$I(B+_+N0%6W.9$1$1$;F8QG.$M3:KZ3XN^N0U
M"O+%E_H[9*(0CH51+AO1+K /B380_1*M8^Z>?"4O)>CZFD7TH#NHN4&Z!81D7\7(F-O]ZH0$1$1.8M<\N?"F82>-6SU6C[Z)*TO;I49;7@(
M$IEE+*D:#1N["Y2*=&_!]_.+O##2(F6+-I*!.X:3.DY';Q$1$?EWV1BU0T1$
M1.1B6(:GPT*3E6RCT4)FM1M&:+\MA+R(PQ'.(M;^!+W$-X1X%U_:@)I_;>/)
MIO\($3RRA5AEF%M$1$1$1$1$9$Y=0=<$WV>I$.EF\@V+\7RYDR$QFQ"C7T0-
M87%!\,\4/=@1WQ;#7(B(B(B(B(B<)%;]1(= K" V9J;O/(MTIH@U_O=$&B>3
MVC<%%
ME$R#@5A]]P)%?)6+_6\SP/@BJKE%?!BJ#>G]@5?(R8RQ6+DH7(B(B(B(B(B<
M"QX?)^4+_!WV^WTLTB<1&W+53YE_3L' %B4CE\8IK'5+;$]](\-9K)5$N/@9
M%BDB(B(B(B(BW\_3TU.LK$^&OLQLI/%A(DI4;XM8W<>"_9\([X#=2)[C?K^?
MA]1HM(O[^_LU^8+>Z+U.1$1$1$1$1&0[L;*>A*/,:'>,LHF3T /I,=-KK
M@:;KL+CXGERN(B(B(B(B(O\'YM87I/LD4\;S@6$EE*FN(D@$J7O\_OT[OOU3
MH3"B52@/59")SS6"!V4R7D96J&DQ<4\=8N(B(B(B(B(G$NLM==B
M7[R_OP^-$!H00 AT6;>_O;U5(P?,,'I;A:\#R86PF:E:1#->7EZJD$*9. N2
MQD:!NP9GT1_VZ)VU"=1/IO<<2(]7ZU>8AC
M/3\_O[V]W7:E'[6]O[^_O+P\/#S4(]*VV-@XL*!:4"!;$EO.,A$AJT@OW8B(
MB(B(B(C(#2'SR/W]_;F>':^OKS7U1FZL<226HU,&5@TUW$3\BX[Q\O(2!89Q
M,M?X.!#'BGWC< \/#[7RE"RB_BC3-":VT)@LF/C(\JG H"11BS\V<**OM'W[]_W!Q[6
MB6]_'^AS?Z2*$H?H)8AH3-I:Q-\HD,U(_2'.:&.6D/?W=QQ23KK5B(B(B(B(
MB,A-($O()*5(0ZSQ23#*\C_V2N$BW4/B6PPD^MUQ\8B%__Y ;S6Q!8PW8G=B
M5KP?Z \4#6MB7Z3@$,W.C3B;Q-^3YQY[T6:%"Q$1$1$1$9'OA'0;) \]69AB
MF9XCEO-5N'AX>'A_?R?8!=84"N! I033?8KU YHXH60TM,GP$ZD3CG4&@"4)JI%!0[1\NYOW]
MG1@:-2LK;BSQ+:87J52DZ45C6_+Z^IK[#L-UQE$P2AG&\1 1$1$1$1&1;^;M
M[0W]H;$Q>'Y^1GG <(+%?BSG\S.*1]ICU!UWQXP>:?R0!5)2P#PCHU@0R()\
M(DE:5B!!I%<((2]J@E2">-00%E& '7O?D+2^Z!6;:#9^(MNSD(B(B(B(B(C(
M5Q-+^URSU^7\V]L;1@X86F" D8I!-;JHR4-CKW3'J-81'*A:8L2Q8L=J/I$A
M*8@.FH7C P$_JQU%;B9)516DB=O;!*XCXD=$M
M-+<0$1$1$1$1^2? < +9H2H8K/01"M NT")BR[">Q\?'_7Z?BD<4B_+L'C57
M)2 S].W 56?N6!F>!J+EF#ZF6'DT[7UY>4#:BA4:W$!$1$1$1$?GG(/[#
MFH*!=H'F4#6!U]?73+H:N\?GJAZD1E&#:G(LC"OB[]#X(#!QQ,
MV(Z/!O("7\4NJ5<@% P#4RPE;$4-^YDT DCS;1PE=H^C5Z\6?$^B<&US)BN)
MO\_/SZH6(B(B(B(B(C\ HFZF#0;I.=(Z(CZS'1'C]^_?41C;#'2&U"NPUAB&
MK8CM&=2BCYY!0(P:U*+*$8@D')=&HIG40\17CX^/M%!;"Q$1$1$1$9$?22SV
M7U]?R?2!PI!F&"@#F%@@.Z291-I:Q(?E&.VS%Q]BR_/S'AX&";L(&SFT]-3*AZ_?OVBAA0K\/*HGB,O+R]1H-:/
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M$1$1$1$1$1$1$1$1$1$1$1$1$3F;]Q$?'Q]-L=C2?)6%URI7F)SWV!26->7U_9-S[T;9@T+ZL]W36'2J)M'*AO8:VM9UA>1$1$1$1$1,XB
MEMC[_?Y7Q^_?OV/-7I?>KZ^O?!7;ZX[W]_>U6'Q^>'B([?$M^D"49\>HH1XW
M=KPK4-7S\W.J"K'VKT=,HDQ4WNS[]/14FQ&5L&\V(XF2'.MDSW B]2C1+?4L
MLK8UU"Y$1$1$1$1$KB06U[&ZW^UVL2I_?'Q\.!"?8ZD>&^-SED0-B.UO;V]L
M>7Y^CC*QL8H#46'L'MOC6[9$>1;^U1*#,O?W]R\'HG SD"!:R_E6+87:8N/#"+4+
M$1$1$1$1D2M)[:*NQ_'(0$G([;&-\E&F6COTVD5\0'^H
M,L5R,.UX?'RL6YIBM"IH+#&B "U)P:1J%XU\@>0RURZ0*>)O(\N@G-1S0;OX
M_?OWI#81$1$1$1$1N9BA=@&/CX]UC=]K%\M1!X@:4AEHC"Z6=>TBC3V>GIZ&
M\2Z63KN(QJS)#J@*Z<""=A'[TIXJ7YS4+J)8;P&RUEVI7321+M8J%Q$1$1$1
M$9&SF&@7K/%C5)+UVL1Q4"/2!"F$K:AL:[6*MJ?VA
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M]<5)[2+:1IMKHMA,/E+5%;4+$1$1$1$1D2^EYD@EK6GI[H[DDC0'#&V1\FZ[\/#P]"3I1ZTG@6ZQ\G.B>.BC62?-+8BRT'B
MH+9A< P1$1$1$1$1N9Z/CI/%)M^>NV,6F!_TW!TGW\[K7*MJ?A2%"Q$1$1$1
M$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1
M$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1$1^1F\O;V]
M'(G/'Q\?\V*OKZ_O[^]]@?<1?6VQ95ARK7GQ56W>QN/.*QRV+2I?JZIVRZ3^
M[4UM#IU]LM;Y\S.EA9.JUHZ[MGWY?)ENZQ$1$1$1$3D_T8L
M"1\>'G[]^G57^/W[=VRLJ\7X?']_7XO%Y\?'Q[K\C)4I537L]_O8M]86Z];8
M."P6J]K:O*@_CM(<-XI%#;78\_/SL,(XD:9"B(W[ _7;:#_GN$8>E-.,AM4Z
M8_=A4YM%=Y2AJ4W#HMCO _-%^K"'(8Z%7$#W!E7-8,?8V'1=E(GM<=S^6%G/
ML \YV?@V.K^ID)YOI FN4;W-..[3TU.J'-0Y/SL1$1$1$1'Y7\&Z=;?;L82,
M)6K\C44B2\M<>\8:-HO%"I1BL0Z-+?&W+E%C@-^F-C'"N+
M1>4<-U?*L5:-C508J]K8'D>/76)+%*MK\-C.QJ9"-O9+[ZAM=R!.I-G.OG0"
MIYQ;4@K@-*MVT3>5GNR;FH>NVL)R4&E8I ^-'!+J;'H8HF96]W1O4Q4[61Y6@;4"MD)=LL
MC3%O:+:SRFY6Y5EA+-N;]F =T2@J[-*V"HZ=\<99V
MT?1PT_BY=M&T6&_&JG-8C*_J&GFH7<2JY=N[5@[["H7:1
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M7#*RQ,7Q+NI!Y]K%
MA8B(B(B(B/P/(24H[\KKFC2VDT:$C;58769FCI*ZCN[C7>2;]"I-#.-=]*!(
M_"K)29>#_I#MR=W[>!>Q"^OH>FHLV#-U"+#6;E[NGQNK$TN&OJE44JU6&NUB
M*:O^H8K2<"OM8BG6%XUVD8%0:B]QK?OPI+7?TOJBT2[R]-K%4G287Y]SI-;@'ES'O(6J=)8Y4N\[". Y.6L1$1$1
M$1'YJ<1ZD(P;N :P;(PMO0]%7RP6I$VBD-@8WS:+^EC>-D$7,R3"EM5H' 7)
M@N-&&_KFQ1:^:BQ#6(;'[IPF9?J$L#2FYNM$U:D"3CU-K#4:W69C4[%A:+HH
MNZXF&QTR[.&&[-ZLBOK[TT&BX;B<.Q>KL9-9BO-+:E!T0I]39NU$L++(O*O8
M=32W$'4..9D01T1$1$1$1'XVA!W8DH]R7FSX;59>E]+#Y)Y;CCO1Q)R(1L[8:VI).,X:Z^-A\[&OQVH5:WMV!RWN5*USN:K>85K%S?KF5_'GKFD
M(R(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(B(B(B(B(B(B(B(B-^<_YA"2G T*96YDFMC.60B/SX*/'@Z>&UP;65T82!X;6QN#IX;7!T:STB061O8F4@6$U0($-O&UL;G,Z<&1F
M/2)H='1P.B\O;G,N861O8F4N8V]M+W!D9B\Q+C,O(@H@(" @(" @(" @("!X
M;6QN&UP.D-R96%T;W)4;V]L/G)A
M;6EN<&]U&UP.DUE=&%D871A1&%T93XR,#$Y+3$R+3 S5#$T
M.C0X.C$X+3 U.C P/"]X;7 Z365T861A=&%$871E/@H@(" @(" @(" \<&1F
M.E!R;V1U8V5R/FE497ATPJX@-2XT+C4@PJDR,# P+3(P,3,@,50S6%0@0E9"
M02 H04=03"UV97)S:6]N*3PO<&1F.E!R;V1U8V5R/@H@(" @(" @(" \>&UP
M34TZ1&]C=6UE;G1)1#YU=6ED.F4X86-E.#5D+6-F9C,M-#(R-RUA-&0Q+61B
M,#)B,3AA9C1A-#PO>&UP34TZ1&]C=6UE;G1)1#X*(" @(" @(" @/'AM<$U-
M.DEN#IX;7!M971A/@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(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @(" @( 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(" @(" @(" @(" @"CP_>'!A8VME="!E;F0](GF4@-R]4>7!E+UA2968O5ULQ(#(@,%T^/G-T!B8&Q!XB%F1A;=S(Q,# "!!@ .14$% T*96YD
TEXT-EXTRACT
2
filename2.txt
December 3, 2019
Brian P. Lynch
Chief Financial Officer
Callaway Golf Company
2180 Rutherford Road
Carlsbad, California 92008
Re: Callaway Golf Company
Form 10-K for the Fiscal Year Ended December 31, 2018
Filed March 1, 2019
File No. 001-10962
Dear Mr. Lynch:
We have completed our review of your filing. We remind you that the
company and its
management are responsible for the accuracy and adequacy of their disclosures,
notwithstanding
any review, comments, action or absence of action by the staff.
Sincerely,
Division of
Corporation Finance
Office of
Manufacturing