We seek a balance between desired but competing qualities of raw image contrast, IWA, spectral bandwidth, overall throughput, and sharpness of the exoplanet point-spread functions (PSFs). Our design objectives are as follows: (1) Raw image contrast better than at visible (450 to 950 nm) wavelengths, as needed to image an exoplanet in reflected starlight, requiring wavefront stability that is uniquely available to a space observatory. Such contrast levels are beyond the reach of large ground-based telescopes, which are expected to achieve contrasts of in the coming decade.10,11 (2) Tolerance to telescope pointing jitter and finite stellar diameters, both in the range of a few milliarcseconds, while preserving high-contrast performance. (3) Spectral bandwidth of 10% or greater, as will be required to capture scarce photons. (4) IWA or closer to the star to capture and disambiguate significant numbers of exoplanets. (5) Coronagraph efficiency, defined in terms of throughput losses introduced by the coronagraph elements, to be better than 40%, again to capture scarce photons. (6) Minimum instrument complexity, using a minimum number of critical elements and alignments, leading to a system with accurate optical models and reliable performance predictions. In practical terms, complexity affects our ability to successfully fabricate, align, and ultimately develop accurate models for science performance. Confidence limits for exoplanet detections will depend on detailed characteristics of the coronagraph PSFs, telescope stability, and practical methods of postprocessing of data.