Document:

Exhibit 10.3

 

STOCK OPTION AWARD AGREEMENT
 Granted Under the
 DICK’S SPORTING GOODS, INC.
 2012 STOCK AND INCENTIVE PLAN

 

Unless otherwise defined herein, each capitalized term used in this Stock Option Award Agreement (this “Agreement”) shall have the meaning given such term in the Dick’s Sporting Goods, Inc. 2012 Stock and Incentive Plan, as amended (the “Plan”), an electronic copy of which can be found on Dick’s Sporting Goods’ equity administrator’s website (the “Benefit Access System”).

 

	
Grantee’s   Name:
    	
 
    	
<First>   <Last>
    
	
 
    	
 
    	
 
    
	
Grant   Type:
    	
 
    	
<Type>
    
	
 
    	
 
    	
 
    
	
Date   of Grant:
    	
 
    	
<Grant   Date>
    
	
 
    	
 
    	
 
    
	
Number   of Shares Granted:
    	
 
    	
<Share   Number>
    
	
 
    	
 
    	
 
    
	
Exercise   Price Per Share:
    	
 
    	
<Price>
    
	
 
    	
 
    	
 
    
	
Grant   Expiration Date/Term:
    	
 
    	
<Expiration   Date>
    
	
 
    	
 
    	
 
    
	
Vesting   Schedule:
    	
 
    	
<Vesting   Schedule>
    

 

1.                                      Grant of Option.  The undersigned grantee (the “Optionee”), has been granted an option (the “Option”) to purchase the number of shares of Common Stock (the “Shares”) set forth above, subject to the terms and conditions of this Agreement and the Plan, which is incorporated herein by reference.  In the event of a conflict between the terms and conditions of the Plan and this Agreement, the terms and conditions of the Plan shall prevail.

 

If this Award has been designated above as an Incentive Stock Option (“ISO”), then this Option is intended to qualify as an Incentive Stock Option as defined in Section 422 of the Code.  Nevertheless, to the extent that the Option fails to meet the requirements of an ISO under Code Section 422, this Option shall be treated as a Nonstatutory Stock Option.

 

2.                                      Vesting Schedule.  So long as Optionee maintains his/her status as an Employee, Non-Employee Director or Consultant (as the case may be), the Option shall vest in accordance with the Vesting Schedule set forth above.  Pursuant to the Administrator’s authority under Section 9(e) of the Plan, upon termination of Optionee’s Continuous Status as an Employee, Non-Employee Director or Consultant (as the case may be) for any reason, the portion of this Option that is not vested shall expire immediately.  Subject to the provisions of Section 7(b)(ii) of the Plan, the portion of this Option that is vested but has not yet been exercised shall remain exercisable for a period of (i) 90 days in the event of termination of Optionee’s status, (ii) 12 months in event of termination as a result of death or total and permanent disability (as defined in Section 22(e)(3) of the Code); or (iii) 36 months in the event of retirement (defined as having met at least age 55 with 15 or more years of service, as determined by the Administrator);

 

 

provided, however, that in no event may the Shares be exercised later than the Grant Expiration Date set forth above.

 

3.                                      Exercise of Option.  This Option shall be exercisable during the Term in accordance with the Vesting Schedule and the applicable provisions of the Plan and this Agreement.  This Option can be exercised using the methods described on the Benefit Access System.

 

4.                                      Method of Exercise.  No Shares shall be issued pursuant to the exercise of this Option unless such issuance and exercise complies with the Code and any other applicable law or regulation, including the requirements of the New York Stock Exchange.  Assuming such compliance, for income tax purposes the Shares shall be considered transferred to the Optionee on the date on which the Option is exercised with respect to such Shares.

 

5.                                      Method of Payment.  Payment of the aggregate Exercise Price shall be by any of the following methods, or a combination thereof, at the election of the Optionee:

 

(a)                     cash or check;

(b)                     tendering previously acquired Shares having an aggregate Fair Market Value at the time of exercise equal to the exercise price of the Option,

(c)                      delivery of a properly executed exercise notice together with irrevocable instructions to a broker registered under the Exchange Act to promptly deliver to the Company the amount of proceeds required to pay the exercise price;

(d)                     any combination of the foregoing methods of payment; or

(e)                      any other method approved or accepted by the Administrator in its sole discretion.

 

6.                                      Delivery of Shares.  Upon exercise of an Option in accordance with the terms of this Agreement and the Plan, the Company shall issue the Shares, in either certificated or book entry form, in Optionee’s name as of date of exercise.

 

7.                                      Withholding.  Notwithstanding any provisions of the Plan or this Agreement to the contrary, whenever shares of Common Stock are to be issued to the Optionee, the Optionee shall also remit to the Company (or, in the case of a “brokerage cashless exercise,” or other exercise the Company shall have the right to withhold) an amount sufficient to satisfy federal, state and local withholding requirements prior to delivery of any Exercise Notice for shares.  Any withholding from Shares will be limited to an amount equal to the Company’s minimum statutory withholding requirement. If an Optionee makes a disposition of shares acquired upon the exercise of an Incentive Stock Option within either two years after the Option was granted or one year after its exercise by the Optionee, the Optionee shall promptly notify the Company in accordance with Section 9(d) of this Agreement and the Company shall have the right to require the Optionee to pay the Company an amount sufficient to satisfy federal, state and local tax withholding requirements, if any.

 

8.                                      Non-Transferability of Option.  This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the

 

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lifetime of Optionee only by Optionee.  The terms of the Plan and this Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of the Optionee.

 

9.                                      Term of Option.  This Option may be exercised only until the Grant Expiration Date (as set forth above), and may be exercised during such term only in accordance with the Plan and the terms of this Agreement.

 

10.                               Tax Consequences.  Optionee acknowledges the receipt of tax information relating to the Award, including information on the need to consult Optionee’s own tax advisors.

 

11.                               Fractional Shares.  The Company shall not be required to issue any fractional shares pursuant to the Award, and the Company may round fractions down.

 

12.                               Notices and Electronic Delivery.  The Company may, in its sole discretion, deliver any documents or notices related to this Agreement, the Shares, the Optionee’s participation in the Plan, or future awards that may be granted to the Optionee under the Plan, by electronic means.  Optionee hereby consents to receive such documents by electronic delivery and to Optionee’s participation in the Plan through the Benefit Access System or any successor on-line or electronic system established and maintained by the Company or another third party designated by the Company.

 

13.                               No Guarantee of Continued Service.  OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF THE OPTION PURSUANT TO THE VESTING SCHEDULE SET FORTH HEREIN IS EARNED ONLY BY CONTINUING AS AN EMPLOYEE, NON- EMPLOYEE DIRECTOR OR CONSULTANT, AS APPLICABLE (NOT THROUGH THE ACT OF BEING HIRED OR BEING GRANTED OR ACQUIRING THE SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED EMPLOYMENT OR ENGAGEMENT FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH OPTIONEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE OPTIONEE’S RELATIONSHIP WITH THE COMPANY AT ANY TIME AND FOR ANY REASON.

 

14.                               Incorporation of Plan.  Optionee acknowledges receipt of a copy of one of the following: (i) the Company’s annual report for its last fiscal year, (ii) the Company’s Form 10- K for its last fiscal year, or (iii) the last prospectus filed by the Company, and represents that he or she is familiar with the terms and provisions thereof, and hereby accepts this Award subject to all of the terms and provisions thereof. Optionee has reviewed the Plan and this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement and fully understands all provisions of this Agreement, the Plan and the tax effects of the Option and its exercise. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator with respect to any questions arising under the Plan or this Agreement.

 

15.                               Interpretation and Construction.  Whenever possible, each provision in this Agreement will be interpreted in such manner as to be effective and valid under applicable law,

 

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but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, then (a) such provision will be deemed amended to accomplish the objectives of the provision as originally written to the fullest extent permitted by law and (b) all other provisions of this Agreement will remain in full force and effect. This Award is intended to be excepted from coverage under Section 409A of the Code and the regulations promulgated thereunder and shall be interpreted and construed accordingly. If, however, any benefit provided under this Agreement is subject to the provisions of Section 409A of the Code and the regulations promulgated thereunder, the provisions of this Agreement shall be administered, interpreted and construed in a manner necessary to comply with Section 409A and the regulations promulgated thereunder (or disregarded to the extent such provision cannot be so administered, interpreted, or construed). Notwithstanding the foregoing, Optionee recognizes and acknowledges that Section 409A of the Code may impose upon Optionee certain taxes or interest charges for which Optionee is and shall remain solely responsible.  No rule of strict construction will be implied against the Company or any other person in the interpretation of any of the terms of this Agreement or any rule or procedure established by the Administrator.

 

17.                               Assurances.  Optionee agrees, upon demand of the Company, to do all acts and execute, deliver and perform all additional documents, instruments and agreements that may be required by the Company to implement the provisions and purposes of this Agreement.

 

18.                               Entire Agreement, Governing Law.  The Plan is incorporated herein by reference.  The Plan and this Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements, whether oral or written, of the Company and Optionee with respect to the subject matter hereof, and may not be modified adversely to the Optionee’s interest except by means of a writing signed by the Company and Optionee.  Notwithstanding the foregoing, the Committee, or its delegee, as the case may be, may, in its sole discretion and without Optionee’s consent, modify or amend any or all of the terms of this Agreement to the extent necessary to conform this Award with, or be excepted from, Section 409A, Section 162(m) or any present or future law relating to plans of this or similar nature, the regulations issued thereunder or an exception thereto regardless of whether such modification or amendment shall adversely affect the rights of Optionee.  This Agreement is governed by applicable federal laws and the laws of the State of Delaware without regard to its conflict of laws.

 

19.                               No Guarantee of Continued Service.  OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF THE OPTION PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS AN EMPLOYEE, NON-EMPLOYEE DIRECTOR OR CONSULTANT, AS THE CASE MAY BE, AT THE WILL OF THE COMPANY (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION OR ACQUIRING SHARES HEREUNDER).  OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH OPTIONEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE OPTIONEE’S RELATIONSHIP WITH THE COMPANY AT ANY TIME, WITH OR WITHOUT CAUSE.

 

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All other terms and conditions applicable to this Award shall be as set forth in the Plan.

 

Electronic acceptance of this Agreement by the Optionee pursuant to the Company’s instructions to the Optionee (including through the Company’s Benefit Access System) shall constitute execution of this Agreement by Company and Optionee.

 

5Exhibit 10.1

 

EXECUTION VERSION

 

CONTRIBUTION AND ASSIGNMENT AGREEMENT

 

THIS CONTRIBUTION AND ASSIGNMENT AGREEMENT (this “Agreement”), is entered into with effect from June 5, 2012 (the “Effective Date”), by and between Dynegy Inc., a Delaware corporation (“Dynegy”), Dynegy Holdings, LLC, a Delaware limited liability company (“DH”),  and Dynegy Gas Investments, LLC, a Delaware limited liability company (“DGIN”).

 

W I T N E S S E T H:

 

WHEREAS, Dynegy Coal Holdco, LLC, a Delaware limited liability company (the “Company”), is a wholly-owned subsidiary of Dynegy;

 

WHEREAS, DH is a wholly-owned and controlled subsidiary of Dynegy and DGIN is a wholly-owned and controlled subsidiary of DH, in each case, for the purposes of Section 271(c) of the Delaware General Corporation Law (the “DGCL”);

 

WHEREAS, (i) Dynegy, (ii) DGIN, (iii) the Company, (iv) DH and the other parties signatory thereto, are parties to that certain amended and restated settlement agreement, dated as of May 30, 2012 (as may be amended from time to time, the “Settlement Agreement” (capitalized terms used but not defined herein shall have the meanings given to such terms in the Settlement Agreement, which was approved by the Bankruptcy Court on June 1, 2012) (such approval, the “Settlement Approval Order”));

 

WHEREAS, the parties to the Settlement Agreement have agreed, for good and valuable consideration as set forth in the Settlement Agreement, and pursuant to the Settlement Agreement, that Dynegy shall contribute and assign to DH, all of its right, title and interest in and to one hundred percent (100%) of the issued and outstanding membership interests of the Company (the “Contributed Interests”) in accordance with the terms and subject to the conditions of the Settlement Agreement; and

 

WHEREAS, the parties to the Settlement Agreement have agreed, for good and valuable consideration as set forth in the Settlement Agreement, and pursuant to the Settlement Agreement, that DH shall contribute and assign to DGIN, and in accordance with that certain Amended and Restated Operating Agreement of DH, dated March 27, 2012 (as amended from time to time, the “DH Operating Agreement”), all of its right, title and interest in and to the Contributed Interests in accordance with the terms and subject to the conditions of the Settlement Agreement.

 

NOW, THEREFORE, in consideration of the premises and covenants herein contained, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.             Settlement Approval Order.  The actions taken pursuant to this Contribution and Assignment Agreement are directed by the Bankruptcy Court pursuant to the Settlement Approval Order.

 

 

2.             Contribution and Assignment; Consideration.  (a)       Subject to Section 2(d) hereof, Dynegy hereby absolutely, irrevocably and unconditionally assigns, conveys, transfers, contributes and delivers unto DH as a capital contribution the Contributed Interests (such contribution the “First Contribution”) free and clear of all liens and together with all accrued rights and benefits attached thereto.  Contemporaneously with the First Contribution, Dynegy is taking such action as is reasonably necessary and legally required (i) to reflect the conveyance, assignment, transfer and delivery of the Contributed Interests on the books and records of the Company, free and clear of all liens and together with all accrued rights and benefits attached thereto, (ii) to provide DH with such evidence of the same as is legally required or as DH shall reasonably request, and (iii) to cure any deficiencies with respect to the endorsement of the certificates representing the Contributed Interests or with respect to the membership interest power accompanying any such certificates.  The First Contribution shall be effective (subject to Section 2(d) hereof) as of 10:00 a.m., New York time on the Settlement Effective Date.  DH hereby accepts the First Contribution.

 

(b)           Following the consummation of the First Contribution, subject to Section 2(d) hereof, DH hereby absolutely, irrevocably and unconditionally assigns, conveys, transfers, contributes and delivers unto DGIN as a capital contribution the Contributed Interests (such contribution the “Second Contribution”) free and clear of all liens and together with all accrued rights and benefits attached thereto.  Contemporaneously with the Second Contribution, DH is taking such action as is reasonably necessary and legally required (i) to reflect the conveyance, assignment, transfer and delivery of the Contributed Interests on the books and records of the Company, free and clear of all liens and together with all accrued rights and benefits attached thereto, (ii) to provide DGIN with such evidence of the same as is legally required or as DGIN shall reasonably request, and (iii) to cure any deficiencies with respect to the endorsement of the certificates representing the Contributed Interests or with respect to the membership interest power accompanying any such certificates.  The Second Contribution shall be effective (subject to Section 2(d) hereof) as of 11:00 a.m., New York time on the Settlement Effective Date.  DGIN hereby accepts the Second Contribution.

 

(c)           In full consideration for Dynegy’s entering into and performing this Agreement, DH hereby grants to Dynegy the consideration set forth in the Settlement Agreement, including, without limitation, the Dynegy Administrative Claim.

 

(d)           Dynegy’s and DH’s performance of the First Contribution and the Second Contribution, as applicable, shall be subject to and conditioned upon the concurrent performance by (i) the Lease Trustee, DH, Dynegy Roseton and Dynegy Danskammer of their respective obligations pursuant to Section II.f. of the Settlement Agreement and (ii) the applicable Settling Claimants of their respective obligations pursuant to Section II.g. of the Settlement Agreement.

 

3.             Representations by Each Party.  Each of Dynegy, DH and DGIN hereby represents and warrants to the other parties hereto as follows:

 

(a)           Authorization.  Such party has the requisite corporate or limited liability company power and authority and has taken all corporate and other action necessary to execute and deliver this Agreement and all other instruments and agreements to be delivered by such party as contemplated hereby, to perform its obligations hereunder and to consummate the

 

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transactions contemplated hereby.  The execution, delivery and performance by such party of this Agreement and all other instruments and agreements to be delivered by such party as contemplated hereby, the consummation by such party of the transactions contemplated hereby and the performance of its obligations hereunder have been duly authorized and approved by all necessary corporate, limited liability company or other action.  This Agreement has been, and all other instruments and agreements to be executed and delivered by such party as contemplated hereby will be, duly executed and delivered by such party.  Assuming that this Agreement constitutes valid and binding obligation of the other parties hereto, this Agreement constitutes valid and binding obligation of such party enforceable against such party in accordance with its terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles.  Assuming that all other instruments and agreements to be delivered by such party as contemplated hereby constitute valid and binding obligations of the other parties hereto, such instruments and agreements will constitute valid and binding obligations of such party enforceable against such party in accordance with their terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles.

 

For the avoidance of doubt, DH’s representations and warranties set forth herein are solely with respect to those items which the Bankruptcy Court ordered pursuant to the Settlement Approval Order.

 

4.             Representations by Dynegy to DH and DGIN.  Dynegy hereby represents and warrants to DH and DGIN as follows:

 

(a)           Dynegy’s Ownership of Contributed Interests. As of the time of the First Contribution: (1) Dynegy has good and valid title to the Contributed Interests free and clear of all liens, and is the record and beneficial owner thereof, (2) there is no outstanding contract or agreement, or any right of any third party, to purchase, redeem or otherwise acquire any outstanding membership interests of the Company, (3) Dynegy is conveying good and valid title to the Contributed Interests, free and clear of all liens, orders, contracts, agreements or other rights of third parties or limitations whatsoever and (4) the assignments, endorsements, membership interest powers and other instruments of transfer delivered by Dynegy to DH are sufficient to transfer Dynegy’s entire interest, record and beneficial, in the Contributed Interests to DH.

 

(b)           DH’s Ownership of Contributed Interests.  As of the time of the Second Contribution: (1) DH shall have good and valid title to the Contributed Interests free and clear of all liens, and shall be the record and beneficial owner thereof, (2) there will be no outstanding contracts or agreements, or any right of any third party, to purchase, redeem or otherwise acquire any outstanding membership interests of the Company, (3) DH shall convey good and valid title to the Contributed Interests, free and clear of all liens, orders, contracts, agreements or other rights of third parties or limitations whatsoever and (4) the assignments, endorsements, membership interest powers and other instruments of transfer delivered by DH to DGIN shall be sufficient to transfer DH’s entire interest, record and beneficial, in the Contributed Interests to DGIN.

 

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(c)           Capitalization.     (1) The Contributed Interests constitute all the issued and outstanding equity interests of the Company, (2) the Contributed Interests have been duly authorized and validly issued, and are not subject to, and were not issued in violation of any preemptive rights or other similar rights, (3) except for the Contributed Interests, no other equity interests of the Company are issued, reserved for issuance or outstanding, (4) the Company is not a party to any outstanding or authorized option, warrant, right (including any preemptive right), subscription, claim of any character, agreement, obligation, convertible or exchangeable securities, or other commitments contingent or otherwise, relating to the equity or voting interests in the Company or any of its subsidiaries, pursuant to which the Company is or may become obligated to issue, deliver or sell or cause to be issued, delivered or sold, equity or voting interests in the Company or any securities convertible into, exchangeable for, or evidencing the right to subscribe for or acquire, any equity or voting interests in the Company and (5) there are no irrevocable proxies and no voting agreements with respect to any equity or voting interests in the Company.

 

5.             Benefit of Agreement.  This Agreement shall be binding upon the parties hereto and their respective successors and assigns.

 

6.             No Third Party Beneficiaries.  Except for the parties, no other person or entity is intended to be, nor shall any other person or entity be construed as, a beneficiary of the terms or provisions of this Agreement.

 

7.             Further Assurances.  From time to time after delivery of this Agreement, each of the parties will without further consideration, promptly do, execute, acknowledge and deliver, or will cause to be done, executed, acknowledged and delivered, all such further acts, deeds conveyances, transfers, assignments and assurances as reasonably may be required to more effectively implement the intentions of this Agreement.

 

8.             Entire Agreement.  This Agreement constitutes the entire agreement between the parties with respect to the subject matter covered hereby and supersedes any and all prior negotiations, representations, agreements or understandings relating hereto.

 

9.             Amendment and Waiver.  This Agreement may be amended only by a writing signed by a duly authorized representative of each of the parties. Each party may specifically waive any breach of this Agreement by the other party, but no such waiver shall be deemed to have been given unless such waiver is in writing, signed by the waiving party and specifically designates the breach waived, nor shall any such waiver constitute a continuing waiver of similar or other breaches. No failure or delay on the part of any party in the exercise of any right hereunder shall impair such right or be construed as a waiver of, or acquiescence in, any breach of any representation, warranty, covenant or agreement herein.

 

10.          Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, and all of which together shall be deemed to be one and the same instrument. Signed counterparts of this Agreement may be delivered by facsimile or by scanned portable document file (pdf) image.

 

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11.          Governing Law.  This Agreement and the legal relations between the parties shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflict of laws rules thereof.

 

[signature page follows]

 

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IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed and delivered as of the date first above written.

 

	
 
    	
DYNEGY   INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Robert C. Flexon
    
	
 
    	
Name:
    	
Robert   C. Flexon
    
	
 
    	
Title:   
    	
President   and Chief Executive Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
DYNEGY   HOLDINGS, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Robert C. Flexon
    
	
 
    	
Name:
    	
Robert   C. Flexon
    
	
 
    	
Title:   
    	
President   and Chief Executive Officer

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