Exhibit 10.3


 


EXCHANGE AGREEMENT


 


EXCHANGE AGREEMENT (this “Agreement”),
dated as of  __________, 2014, among Medley Management Inc., a Delaware corporation, Medley LLC, a Delaware limited liability
company, and the holders of LLC Units (as defined herein) from time to time party hereto.


 


WHEREAS, the parties hereto desire to provide
for the exchange of LLC Units for shares of Class A Common Stock (as defined herein), on the terms and subject to the conditions
set forth herein;


 


NOW, THEREFORE, in consideration of the mutual
covenants and undertakings contained herein and for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:


 


ARTICLE I


 


SECTION 1.1.   Definitions


 


The following definitions shall be for all
purposes, unless otherwise clearly indicated to the contrary, applied to the terms used in this Agreement.


 


“Class A Common Stock”
means the Class A common stock, par value $0.01 per share, of the Corporation.


 


“Code” means the Internal
Revenue Code of 1986, as amended.


 


“Corporation” means Medley
Management Inc., a Delaware corporation, and any successor thereto.


 


“Exchange” has the meaning
set forth in Section 2.1(a) of this Agreement.


 


“Exchange Act” means
the Securities Exchange Act of 1934, as amended.


 


“Exchange Rate” means
the number of shares of Class A Common Stock for which a LLC Unit is entitled to be exchanged. On the date of this Agreement, the
Exchange Rate shall be 1 for 1, subject to adjustment pursuant to Section 2.2 of this Agreement.


 


“LLC Unit” means (i)
each Class A Unit (as such term is defined in the Medley LLC Agreement) issued as of the date hereof and (ii) each Class A Unit
or other interest in Medley LLC that may be issued by Medley LLC in the future that is designated by the Corporation as a “LLC
Unit”.


 


“LLC Unitholder” means
each holder of one or more LLC Units that may from time to time be a party to this Agreement.


 


“Medley LLC” means Medley
LLC, a Delaware limited liability company, and any successor thereto.


 




    	 



    	 



    

  


“Medley LLC Agreement”
means the Second Amended and Restated Limited Liability Company Agreement of Medley LLC, dated on or about the date hereof, as
such agreement may be amended from time to time.


 


“IPO” has the meaning
set forth in Section 2.1(a) of this Agreement.


 


“Permitted Transferee”
has the meaning given to such term in Section 3.1 of this Agreement.


 


“Unvested Units” has
the meaning given to such term in the Medley LLC Agreement.


 


ARTICLE II


 


SECTION 2.1.   Exchange of LLC
Units for Class A Common Stock.


 


(a)          From
and after the first anniversary of the date of the closing of the initial public offering and sale of Class A Common Stock (as
contemplated by the Corporation’s Registration Statement on Form S-1 (File No. 333-__________)) (the “IPO”),
or, if later, the date of the initial filing by the Corporation of a registration statement with the U.S. Securities and Exchange
Commission to cover delivery of shares of Class A Common Stock to LLC Unitholders upon an Exchange (as defined herein), each LLC
Unitholder shall be entitled at any time and from time to time, upon the terms and subject to the conditions hereof, to surrender
LLC Units (other than Unvested Units) to Medley LLC in exchange for the delivery to the exchanging LLC Unitholder of a number of
shares of Class A Common Stock that is equal to the product of the number of LLC Units surrendered multiplied by the Exchange
Rate (such exchange, an “Exchange”); provided that any such Exchange is for a minimum of the lesser of 1,000
LLC Units or all of the LLC Units (other than Unvested Units) held by such LLC Unitholder.


 


(b)          A
LLC Unitholder shall exercise its right to exchange LLC Units as set forth in Section 2.1(a) above by delivering to the Corporation
and to Medley LLC a written election of exchange in respect of the LLC Units to be exchanged substantially in the form of Exhibit
A hereto, duly executed by such holder or such holder’s duly authorized attorney, in each case delivered during normal
business hours at the principal executive offices of the Corporation and of Medley LLC. As promptly as practicable following the
delivery of such a written election of exchange, Medley LLC shall deliver or cause to be delivered at the offices of the then-acting
registrar and transfer agent of the Class A Common Stock or, if there is no then-acting registrar and transfer agent of the Class
A Common Stock, at the principal executive offices of the Corporation, the number of shares of Class A Common Stock deliverable
upon such Exchange, registered in the name of the relevant exchanging LLC Unitholder. To the extent the Class A Common Stock is
settled through the facilities of The Depository Trust Company, Medley LLC will, subject to Section 2.1(c) below, upon the written
instruction of an exchanging LLC Unitholder, use its reasonable best efforts to deliver the shares of Class A Common Stock deliverable
to such exchanging LLC Unitholder, through the facilities of The Depository Trust Company, to the account of the participant of
The Depository Trust Company designated by such exchanging LLC Unitholder. The Corporation shall take such actions as may be required
to ensure the performance by Medley LLC of its obligations under this Section 2(b) and the foregoing Section 2(a), including the
issuance and sale of shares of Class A Common Stock to or for the account of Medley LLC in exchange for the delivery to the Corporation
of a number of LLC Units that is equal to the number of LLC Units surrendered by an exchanging LLC Unitholder.


 




    	 



    	 



    

  


(c)          Medley
LLC and each Exchanging LLC Unitholder shall bear their own expenses in connection with the consummation of any Exchange, whether
or not any such Exchange is ultimately consummated, except that Medley LLC shall bear any transfer taxes, stamp taxes or duties,
or other similar taxes in connection with, or arising by reason of, any Exchange; provided, however, that if any shares of Class
A Common Stock are to be delivered in a name other than that of the LLC Unitholder that requested the Exchange, then such LLC Unitholder
and/or the person in whose name such shares are to be delivered shall pay to Medley LLC the amount of any transfer taxes, stamp
taxes or duties, or other similar taxes in connection with, or arising by reason of, such Exchange or shall establish to the reasonable
satisfaction of Medley LLC that such tax has been paid or is not payable.


 


(d)          Notwithstanding
anything to the contrary herein, to the extent the Corporation or Medley LLC shall determine that LLC Units do not meet the requirements
of Treasury Regulation section 1.7704-1(h), the Corporation or Medley LLC may impose such restrictions on Exchange as the Corporation
or Medley LLC may determine to be necessary or advisable so that Medley LLC is not treated as a “publicly traded partnership”
under Section 7704 of the Code. Notwithstanding anything to the contrary herein, no Exchange shall be permitted (and, if attempted,
shall be void ab initio) if, in the good faith determination of the Corporation or of Medley LLC, such an Exchange would
pose a material risk that Medley LLC would be a “publicly traded partnership” under Section 7704 of the Code.


 


(e)          For
the avoidance of doubt, and notwithstanding anything to the contrary herein, a LLC Unitholder shall not be entitled to exchange
LLC Units to the extent the Corporation determines that such Exchange (i) would be prohibited by law or regulation (including,
without limitation, the unavailability of any requisite registration statement filed under the U.S. Securities Act of 1933,
as amended, or any exemption from the registration requirements thereunder) or (ii) would not be permitted under any other agreements
with the Corporation or its subsidiaries to which such LLC Unitholder may be party (including, without limitation, the Medley LLC
Agreement) or any written policies of the Corporation related to unlawful or inappropriate trading applicable to its directors,
officers or other personnel.


 


(f)          The
Corporation may adopt reasonable procedures for the implementation of the exchange provisions set forth in this Article II, including,
without limitation, procedures for the giving of notice of an election of exchange.


 




    	 



    	 



    

  


SECTION 2.2.   Adjustment. 


 


(a)          The
Exchange Rate shall be adjusted accordingly if there is: (a) any subdivision (by any unit split, unit distribution, reclassification,
reorganization, recapitalization or otherwise) or combination (by reverse unit split, reclassification, reorganization, recapitalization
or otherwise) of the LLC Units that is not accompanied by an identical subdivision or combination of the Class A Common Stock;
or (b) any subdivision (by any stock split, stock dividend or distribution, reclassification, reorganization, recapitalization
or otherwise) or combination (by reverse stock split, reclassification, reorganization, recapitalization or otherwise) of the Class A
Common Stock that is not accompanied by an identical subdivision or combination of the LLC Units. If there is any reclassification,
reorganization, recapitalization or other similar transaction in which the Class A Common Stock are converted or changed into
another security, securities or other property, then upon any subsequent Exchange, an exchanging LLC Unitholder shall be entitled
to receive the amount of such security, securities or other property that such exchanging LLC Unitholder would have received if
such Exchange had occurred immediately prior to the effective date of such reclassification, reorganization, recapitalization or
other similar transaction, taking into account any adjustment as a result of any subdivision (by any split, distribution or dividend,
reclassification, reorganization, recapitalization or otherwise) or combination (by reverse split, reclassification, recapitalization
or otherwise) of such security, securities or other property that occurs after the effective time of such reclassification, reorganization,
recapitalization or other similar transaction. Except as may be required in the immediately preceding sentence, no adjustments
in respect of distributions shall be made upon the exchange of any LLC Unit.


 


SECTION 2.3.   Class A Common
Stock to be Issued. 


 


(a)          The
Corporation shall at all times reserve and keep available out of its authorized but unissued Class A Common Stock, solely
for the purpose of issuance upon an Exchange, such number of shares of Class A Common Stock as shall be deliverable upon any such
Exchange; provided that nothing contained herein shall be construed to preclude Medley LLC from satisfying its obligations in respect
of the Exchange of the LLC Units by delivery of shares of Class A Common Stock which are held in the treasury of the Corporation
or Medley LLC or any of their subsidiaries or by delivery of purchased shares of Class A Common Stock (which may or may not
be held in the treasury of the Corporation or any subsidiary thereof). The Corporation and Medley LLC covenant that all Class A
Common Stock issued upon an Exchange will, upon issuance, be validly issued, fully paid and non-assessable.


 


(b)          The
Corporation and Medley LLC covenant and agree that, to the extent that a registration statement under the Securities Act is effective
and available for shares of Class A Common Stock to be delivered with respect to any Exchange, shares that have been registered
under the Securities Act shall be delivered in respect of such Exchange. In the event that any Exchange in accordance with this
Agreement is to be effected at a time when any required registration has not become effective or otherwise is unavailable, upon
the request and with the reasonable cooperation of the LLC Unitholder requesting such Exchange, the Corporation and Medley LLC
shall use commercially reasonable efforts to promptly facilitate such Exchange pursuant to any reasonably available exemption from
such registration requirements. The Corporation and Medley LLC shall use commercially reasonable efforts to list the Class A Common
Stock required to be delivered upon exchange prior to such delivery upon each national securities exchange or inter-dealer quotation
system upon which the outstanding Class A Common Stock may be listed or traded at the time of such delivery.


 




    	 



    	 



    

  


SECTION 2.4.   Restrictions.



 


(a)          The
provisions of Sections 8.02, 8.03, 8.04 and 8.06 of the Medley LLC Agreement and the restrictions on transfer under any other agreements
with the Corporation or any of its subsidiaries to which an exchanging LLC Unitholder may be party shall apply, mutatis mutandis,
to any shares of Class A Common Stock. In each case, the provisions of Sections 8.03 and 8.04 of the Medley LLC Agreement shall
apply in the aggregate to LLC Units and shares of Class A Common Stock received in exchange for LLC Units held by each LLC Unitholder.


 


ARTICLE III


 


SECTION 3.1.   Additional LLC
Unitholders. To the extent a LLC Unitholder validly transfers any or all of such holder’s LLC Units to another person
in a transaction in accordance with, and not in contravention of, the Medley LLC Agreement or any other agreement or agreements
with the Corporation or any of its subsidiaries to which a transferring LLC Unitholder may be party, then such transferee (each,
a “Permitted Transferee”) shall have the right to execute and deliver a joinder to this Agreement, substantially
in the form of Exhibit B hereto, whereupon such Permitted Transferee shall become a LLC Unitholder hereunder. To the extent Medley
LLC issues LLC Units in the future, Medley LLC shall be entitled, in its sole discretion, to make any holder of such LLC Units
an LLC Unitholder hereunder through such holder’s execution and delivery of a joinder to this Agreement, substantially in
the form of Exhibit B hereto.


 


SECTION 3.2.   Addresses and
Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given
(and shall be deemed to have been duly given upon receipt) by delivery in person, by courier service, by fax, by electronic mail
(delivery receipt requested) or by registered or certified mail (postage prepaid, return receipt requested) to the respective
parties at the following addresses (or at such other address for a party as shall be as specified in a notice given in accordance
with this Section 3.2):


 


(a) If to the Corporation, to:


 


Medley Management Inc.


600 Montgomery St., 35th Floor


San Francisco, California 94111


Attention: General Counsel


Fax: (415) 358-5514

Email:john.fredericks@medleycapital.com


 


(b) If to Medley LLC, to:


 


Medley LLC


c/o Medley Management Inc.


600 Montgomery St., 35th Floor


San Francisco, California 94111


Attention: General Counsel


Fax: (415) 358-5514


Email:john.fredericks@medleycapital.com


 




    	 



    	 



    

 


(c) If to any LLC Unitholder, to the address and other
contact information set forth in the records of Medley LLC from time to time.


 


SECTION 3.3.   Further Action.
The parties shall execute and deliver all documents, provide all information and take or refrain from taking action as may be
necessary or appropriate to achieve the purposes of this Agreement.


 


SECTION 3.4.   Binding Effect.
This Agreement shall be binding upon and inure to the benefit of all of the parties and, to the extent permitted by this Agreement,
their successors, executors, administrators, heirs, legal representatives and assigns.


 


SECTION 3.5.   Severability.
If any term or other provision of this Agreement is held to be invalid, illegal or incapable of being enforced by any rule of
law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect
so long as the economic or legal substance of the transactions is not affected in any manner materially adverse to any party.
Upon a determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall
negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in
a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the
fullest extent possible.


 


SECTION 3.6.   Amendment.
The provisions of this Agreement may be amended only by the affirmative vote or written consent of each of (i) the Corporation,
(ii) Medley LLC and (iii) LLC Unitholders holding a majority of the then outstanding LLC Units (excluding LLC Units held by the
Corporation).


 


SECTION 3.7.   Waiver. No
failure by any party to insist upon the strict performance of any covenant, duty, agreement or condition of this Agreement or
to exercise any right or remedy consequent upon a breach thereof shall constitute waiver of any such breach of any other covenant,
duty, agreement or condition.


 


SECTION 3.8.   Submission to
Jurisdiction; Waiver of Jury Trial.


 


(a)          Any
and all disputes which cannot be settled amicably, including any ancillary claims of any party, arising out of, relating to or
in connection with the validity, negotiation, execution, interpretation, performance or non-performance of this Agreement (including
the validity, scope and enforceability of this arbitration provision) shall be finally settled by arbitration conducted by a single
arbitrator in New York in accordance with the then-existing Rules of Arbitration of the International Chamber of Commerce. If the
parties to the dispute fail to agree on the selection of an arbitrator within thirty (30) days of the receipt of the request for
arbitration, the International Chamber of Commerce shall make the appointment. The arbitrator shall be a lawyer and shall conduct
the proceedings in the English language. Performance under this Agreement shall continue if reasonably possible during any arbitration
proceedings.


 




    	 



    	 



    

  


(b)          Notwithstanding
the provisions of paragraph (a), the parties hereto may bring an action or special proceeding in any court of competent jurisdiction
for the purpose of compelling a party to arbitrate, seeking temporary or preliminary relief in aid of an arbitration hereunder,
and/or enforcing an arbitration award and, for the purposes of this paragraph (b), each party hereto (i) expressly consents to
the application of paragraph (c) of this Section 3.8 to any such action or proceeding and (ii) agrees that proof shall not be required
that monetary damages for breach of the provisions of this Agreement would be difficult to calculate and that remedies at law would
be inadequate.


 


(c)          (i)          EACH
PARTY HERETO IRREVOCABLY SUBMITS TO THE JURISDICTION OF COURTS LOCATED IN NEW YORK, NEW YORK FOR THE PURPOSE OF ANY JUDICIAL PROCEEDING
BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION 3.8, OR ANY JUDICIAL PROCEEDING ANCILLARY TO AN ARBITRATION OR CONTEMPLATED
ARBITRATION ARISING OUT OF OR RELATING TO OR CONCERNING THIS AGREEMENT. Such ancillary judicial proceedings include any suit, action
or proceeding to compel arbitration, to obtain temporary or preliminary judicial relief in aid of arbitration, or to confirm an
arbitration award. The parties acknowledge that the fora designated by this paragraph (c) have a reasonable relation to this Agreement,
and to the parties’ relationship with one another.


 


(i)          The
parties hereby waive, to the fullest extent permitted by applicable law, any objection which they now or hereafter may have to
personal jurisdiction or to the laying of venue of any such ancillary suit, action or proceeding brought in any court referred
to in the preceding paragraph of this Section 3.8 and such parties agree not to plead or claim the same.


 


SECTION 3.9.   Counterparts.
This Agreement may be executed and delivered (including by facsimile transmission or by e-mail delivery of a “.pdf”
format data file) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when
executed and delivered shall be deemed to be an original but all of which taken together shall constitute one and the same agreement.
Copies of executed counterparts transmitted by telecopy, by e-mail delivery of a “.pdf” format data file or other
electronic transmission service shall be considered original executed counterparts for purposes of this Section 3.9.


 


SECTION 3.10.   Tax Treatment.
This Agreement shall be treated as part of the partnership agreement of Medley LLC as described in Section 761(c) of the Code
and Sections 1.704-1(b)(2)(ii)(h) and 1.761-1(c) of the Treasury Regulations promulgated thereunder. As required by the Code
and the Treasury Regulations, the parties shall report any Exchange consummated hereunder as a taxable sale of the LLC Units by
a LLC Unitholder to the Corporation, and no party shall take a contrary position on any income tax return, amendment thereof or
communication with a taxing authority unless an alternate position is permitted under the Code and Treasury Regulations and the
Corporation consents in writing.


 


SECTION 3.11.   Specific Performance.
The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not
performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall
be entitled to specific performance of the terms and provisions hereof, in addition to any other remedy to which they are entitled
at law or in equity.


 




    	 



    	 



    

  


SECTION 3.12.   Independent
Nature of LLC Unitholders’ Rights and Obligations. The obligations of each LLC Unitholder hereunder are several and
not joint with the obligations of any other LLC Unitholder, and no LLC Unitholder shall be responsible in any way for the performance
of the obligations of any other LLC Unitholder hereunder. The decision of each LLC Unitholder to enter into to this Agreement
has been made by such LLC Unitholder independently of any other LLC Unitholder. Nothing contained herein, and no action taken
by any LLC Unitholder pursuant hereto, shall be deemed to constitute the LLC Unitholders as a partnership, an association, a joint
venture or any other kind of entity, or create a presumption that the LLC Unitholders are in any way acting in concert or as a
group with respect to such obligations or the transactions contemplated hereby and the Corporation acknowledges that the LLC Unitholders
are not acting in concert or as a group, and the Corporation will not assert any such claim, with respect to such obligations
or the transactions contemplated hereby.


 


SECTION 3.13.   Applicable Law.
This Agreement shall be governed by, and construed in accordance with, the law of the State of Delaware.


 


[Remainder of Page Intentionally
Left Blank]


 




    	 



    	 



    

  


IN WITNESS WHEREOF, the parties have caused
this Agreement to be duly executed and delivered, all as of the date first set forth above.


 


	 	MEDLEY MANAGEMENT INC.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	MEDLEY LLC
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	LLC UNITHOLDERS
	 	 	 
	 	 	 
	 	Name:
	 	 	 
	 	 	 
	 	Name:
	 	 	 
	 	 	 
	 	Name:
	 	 	 
	 	 	 
	 	Name:
	 	 	 
	 	 	 
	 	Name:


 


[Signature Page
– Exchange Agreement]


 




    	 



    	 



    

  


EXHIBIT A


 


[FORM OF]

ELECTION OF EXCHANGE


 


Medley Management Inc.


375 Park Avenue, 33rd Floor


New York, New York 10152


Attention: General Counsel


 


Medley LLC


c/o Medley Management Inc.


375 Park Avenue, 33rd Floor


New York, New York 10152


Attention: General Counsel






Reference is hereby made to the Exchange Agreement,
dated as of  __________ (the “Exchange Agreement”), among Medley Management Inc., a Delaware corporation,
Medley LLC, a Delaware limited liability company, and the holders of LLC Units (as defined herein) from time to time party thereto.
Capitalized terms used but not defined herein shall have the meanings given to them in the Exchange Agreement.


 


The undersigned LLC Unitholder hereby transfers
to the Corporation, for the account of Medley LLC, the number of LLC Units set forth below in exchange for shares of Class A Common
Stock to be issued in its name as set forth below, as set forth in the Exchange Agreement.


 


Legal Name of LLC Unitholder: __________________________________________________________


 


Address: _________________________________________________________________________________


 


Number of LLC Units to be exchanged: _________________________________


 


The undersigned hereby represents and warrants
that (i) the undersigned has full legal capacity to execute and deliver this Election of Exchange and to perform the undersigned’s
obligations hereunder; (ii) this Election of Exchange has been duly executed and delivered by the undersigned and is the legal,
valid and binding obligation of the undersigned enforceable against it in accordance with the terms thereof or hereof, as the case
may be, subject to applicable bankruptcy, insolvency and similar laws affecting creditors’ rights generally and the availability
of equitable remedies; (iii) the LLC Units subject to this Election of Exchange are being transferred to the Corporation free and
clear of any pledge, lien, security interest, encumbrance, equities or claim; and (iv) no consent, approval, authorization, order,
registration or qualification of any third party or with any court or governmental agency or body having jurisdiction over the
undersigned or the LLC Units subject to this Election of Exchange is required to be obtained by the undersigned for the transfer
of such LLC Units to the Corporation.


 




    	 



    	 



    

  


The undersigned hereby irrevocably constitutes
and appoints any officer of the Corporation or of Medley LLC as the attorney of the undersigned, with full power of substitution
and resubstitution in the premises, to do any and all things and to take any and all actions that may be necessary to transfer
to the Corporation, for the account of Medley LLC, the LLC Units subject to this Election of Exchange and to deliver to the undersigned
the shares of Class A Common Stock to be delivered in exchange therefor.


 


IN WITNESS WHEREOF the undersigned, by authority
duly given, has caused this Election of Exchange to be executed and delivered by the undersigned or by its duly authorized attorney.


 


	 	 
	 	Name:
	 	 
	 	Dated:	 


 




    	 



    	 



    

 


EXHIBIT B


 


[FORM OF]

JOINDER AGREEMENT


 


This Joinder Agreement (“Joinder
Agreement”) is a joinder to the Exchange Agreement, dated as of __________ (the “Agreement”), among
Medley Management Inc., a Delaware corporation (the “Corporation”), Medley LLC, a Delaware limited liability
company, and each of the LLC Unitholders from time to time party thereto. Capitalized terms used but not defined in this Joinder
Agreement shall have their meanings given to them in the Agreement. This Joinder Agreement shall be governed by, and construed
in accordance with, the law of the State of Delaware. In the event of any conflict between this Joinder Agreement and the Agreement,
the terms of this Joinder Agreement shall control.


 


The undersigned hereby joins and enters into
the Agreement having acquired LLC Units in Medley LLC. By signing and returning this Joinder Agreement to the Corporation, the
undersigned accepts and agrees to be bound by and subject to all of the terms and conditions of and agreements of a LLC Unitholder
contained in the Agreement, with all attendant rights, duties and obligations of a LLC Unitholder thereunder. The parties to the
Agreement shall treat the execution and delivery hereof by the undersigned as the execution and delivery of the Agreement by the
undersigned and, upon receipt of this Joinder Agreement by the Corporation and by Medley LLC, the signature of the undersigned
set forth below shall constitute a counterpart signature to the signature page of the Agreement.


 


Name: __________________________________


 





 


	Address for Notices:	 	With copies to:
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 


 


	Attention: