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XMSRMRKERHTVSHYGXMSRSJJMFIVVIMRJSVGIHGSRGVIXI *6' {;SVOSJRSR%'-SVKERM^EXMSRW
2YQIVSYW GSRXVMFYXMSRW SJ WPEFWSRKVSYRH HIWMKR ERH
GSRWXVYGXMSR MRJSVQEXMSR YWIH MR XLMW KYMHI GSQI JVSQ
SVKERM^EXMSRW ERH MRHMZMHYEPW SYXWMHI XLI %QIVMGER
'SRGVIXI -RWXMXYXI 8LI 97 %VQ] 'SVTW SJ )RKMRIIVW
97%') XLI 2EXMSREP %GEHIQ] SJ 7GMIRGI ERH XLI
(ITEVXQIRX SJ ,SYWMRK ERH 9VFER (IZIPSTQIRX ,9(
LEZI HIZIPSTIH KYMHIPMRIW JSV JPSSV WPEF HIWMKR ERH
GSRWXVYGXMSR8LI4SVXPERH'IQIRX%WWSGMEXMSR 4'% ;MVI
6IMRJSVGIQIRX-RWXMXYXI ;6- 'SRGVIXI6IMRJSVGMRK7XIIP
-RWXMXYXI '67- 4SWX8IRWMSRMRK-RWXMXYXI 48- EW[IPPEW
WIZIVEP YRMZIVWMXMIW ERH GSRWYPXMRK IRKMRIIVW LEZI WXYHMIH
WPEFWSRKVSYRH ERH HIZIPSTIH VIGSQQIRHEXMSRW JSV XLIMV
HIWMKRERHGSRWXVYGXMSR-REHHMXMSRTIVMSHMGEPWWYGLEW
'SRGVIXI -RXIVREXMSREP ERH 'SRGVIXI 'SRWXVYGXMSR LEZI
GSRXMRYSYWP]HMWWIQMREXIHMRJSVQEXMSREFSYXWPEFWSRKVSYRH
{(IWMKRXLISVMIWJSVWPEFWSRKVSYRH
-RXVSHYGXMSR{7XVIWWIW MR WPEFWSRKVSYRH VIWYPX
JVSQ ETTPMIH PSEHW ERH ZSPYQI GLERKIW SJ XLI WSMP ERH
GSRGVIXI8LIQEKRMXYHISJXLIWIWXVIWWIWHITIRHWSRJEGXSVW
WYGLEWXLIHIKVIISJWPEFGSRXMRYMX]WYFKVEHIWXVIRKXLERH
6
%'-'311-88))6)4368
YRMJSVQMX] GSRWXVYGXMSR QIXLSH GSRWXVYGXMSR UYEPMX] ERH
QEKRMXYHI ERH TSWMXMSR SJ XLI PSEHW -R QSWX GEWIW XLI
IJJIGXWSJXLIWIJEGXSVWEVIIZEPYEXIHF]QEOMRKWMQTPMJMIH
EREP]WMWEWWYQTXMSRW[MXLVIWTIGXXSQEXIVMEPTVSTIVXMIWERH
WSMPWXVYGXYVI MRXIVEGXMSR 8LI JSPPS[MRK WIGXMSRW FVMIJP]
VIZMI[ WSQI SJ XLI HIWMKR XLISVMIW SJ WSMPWYTTSVXIH
GSRGVIXIWPEFW
6IZMI[ SJ GPEWWMGEP HIWMKR XLISVMIW{(IWMKR
QIXLSHWJSVWPEFWSRKVSYRHEVIFEWIHSRXLISVMIWSVMKMREPP]
HIZIPSTIHJSVEMVTSVXERHLMKL[E]TEZIQIRXW;IWXIVKEEVH
HIZIPSTIH SRI SJ XLI JMVWX VMKSVSYW XLISVMIW SJ WXVYGXYVEP
FILEZMSVSJVMKMHTEZIQIRX ;IWXIVKEEVH 8LMWXLISV]GSRWMHIVWELSQSKIRISYWMWSXVSTMGERHIPEWXMG
WPEFVIWXMRKSRERMHIEPWYFKVEHIXLEXI\IVXWEXEPPTSMRXWE
ZIVXMGEP VIEGXMZI TVIWWYVI TVSTSVXMSREP XS WPEF HIJPIGXMSR
ORS[R EWE;MROPIV WYFKVEHI ;MROPIV 8LIWYFKVEHI
EGXW EW E PMRIEVWTVMRK [MXLE TVSTSVXMSREPMX] GSRWXERX O [MXL
YRMXWSJTVIWWYVI PFMR?O4EA TIVYRMXHIJSVQEXMSR MR?QA 8LIYRMXWEVIGSQQSRP]EFFVIZMEXIHEWPFMR O2Q 8LMW
GSRWXERXMWHIJMRIHEWXLIQSHYPYWSJWYFKVEHIVIEGXMSR
-RXLIWXLIWXVYGXYVEPFILEZMSVWSJGSRGVIXITEZIQIRX
WPEFW [IVI MRZIWXMKEXIH EX XLI %VPMRKXSR :MVKMRME )\TIVM
QIRXEP*EVQERHEXXLI-S[E7XEXI)RKMRIIVMRK)\TIVMQIRX
7XEXMSR +SSH EKVIIQIRX SGGYVVIH FIX[IIR I\TIVMIRXMEP
WXVIWWIWERHXLSWIGSQTYXIHF]XLI;IWXIVKEEVHvWXLISV]EW
PSRK EW XLI WPEF VIQEMRIH GSRXMRYSYWP] WYTTSVXIH F] XLI
WYFKVEHI'SVVIGXMSRW[IVIVIUYMVIHSRP]JSVXLI;IWXIVKEEVH
GSVRIVJSVQYPEXSEGGSYRXJSVXLIIJJIGXWSJWPEFGYVPMRKERH
PSWW SJ GSRXEGX [MXL XLI WYFKVEHI %PXLSYKL GLSSWMRK XLI
QSHYPYWSJWYFKVEHIVIEGXMSR[EWIWWIRXMEPJSVKSSHEKVIIQIRX
[MXL VIWTIGX XS WXVIWWIW XLIVI VIQEMRIH EQFMKYMX] MR XLI
QIXLSHWYWIHXSHIXIVQMRIXLIGSVVIGXMSRGSIJJMGMIRX
-R XLI W I\TIVMQIRXEP MRJSVQEXMSR WLS[IH XLEX XLI
FILEZMSVSJQER]WYFKVEHIWQE]FIGPSWIXSXLEXSJERIPEWXMG
ERH MWSXVSTMG WSPMH 8[S GLEVEGXIVMWXMG GSRWXERXW{XLI
QSHYPYWSJWSMPHIJSVQEXMSRERH4SMWWSRvWVEXMS{EVIX]TMGEPP]
YWIHXSIZEPYEXIXLIHIJSVQEXMSRVIWTSRWISJWYGLWSPMHW
&EWIH SR XLI GSRGITX SJ XLI WYFKVEHI EW ER IPEWXMG ERH
MWSXVSTMGWSPMHERHEWWYQMRKXLEXXLIWPEFMWSJMRJMRMXII\XIRX
FYXSJJMRMXIXLMGORIWW&YVQMWXIVTVSTSWIHXLIPE]IVIHWSPMH
XLISV]SJWXVYGXYVEPFILEZMSVJSVVMKMHTEZIQIRXW &YVQMWXIV
,I WYKKIWXIH FEWMRK XLI HIWMKR SR E GVMXIVMSR SJ
PMQMXIHHIJSVQEXMSRYRHIVPSEH(IWMKRTVSGIHYVIWJSVVMKMH
TEZIQIRXWFEWIHSRXLMWXLISV]EVIRSXWYJJMGMIRXP]HIZIPSTIH
JSVYWIMRIRKMRIIVMRKTVEGXMGI8LIPEGOSJEREPSKSYWWSPYXMSRW
JSVWPEFWSJJMRMXII\XIRXJSVI\EQTPIIHKIERHGSVRIVGEWIW
MW E TEVXMGYPEV HIJMGMIRG] 3XLIV ETTVSEGLIW FEWIH SR XLI
EWWYQTXMSRSJEXLMRIPEWXMGWPEFSJMRJMRMXII\XIRXVIWXMRKSR
ER IPEWXMG MWSXVSTMG WSPMH LEZI FIIR HIZIPSTIH 8LI
TVIGIHMRKXLISVMIWEVIPMQMXIHXSFILEZMSVMRXLIPMRIEVVERKI
[LIVIHIJPIGXMSRWEVITVSTSVXMSREPXSETTPMIHPSEHW0ÚWFIVK
0ÚWFIVK4MGLYQERM PEXIVTVSTSWIHEWXVIRKXL
XLISV]FEWIHSRXLI]MIPHPMRIGSRGITXJSVKVSYRHWYTTSVXIH
WPEFW FYX XLI YWI SJ YPXMQEXI WXVIRKXL JSV WPEFSRKVSYRH
HIWMKRMWRSXGSQQSR
%PP I\MWXMRK HIWMKR XLISVMIW EVI KVSYTIH EGGSVHMRK XS
QSHIPWXLEXWMQYPEXIWPEFERHXLIWYFKVEHIFILEZMSV8LVII
QSHIPWYWIHJSVWPEFEREP]WMWEVI
)PEWXMGMWSXVSTMGWSPMH
8LMRIPEWXMGWPEFERH
8LMRIPEWXMGTPEWXMGWPEF
8[SQSHIPWYWIHJSVWYFKVEHIEVI
)PEWXMGMWSXVSTMGWSPMHERH
;MROPIV 8LI;MROPIVWYFKVEHIQSHIPWXLIWSMPEWPMRIEVWTVMRKWWS
XLEX XLI VIEGXMSR MW TVSTSVXMSREP XS XLI WPEF HIJPIGXMSR
)\MWXMRKHIWMKRXLISVMIWEVIFEWIHSRZEVMSYWGSQFMREXMSRW
SJ XLIWI QSHIPW 8LI QIXLSHW MR XLMW KYMHI EVI KIRIVEPP]
KVETLMGEP TPSXXIH JVSQ GSQTYXIVKIRIVEXIH WSPYXMSRW SJ
WIPIGXIHQSHIPW(IWMKRXLISVMIWRIIHRSXFIPMQMXIHXSXLIWI
GSQFMREXMSRW 8LI IPEWXMGMWSXVSTMG QSHIP TVSZMHIW GPSWI
TVIHMGXMSR JSV XLI VIWTSRWI SJ VIEP WSMPW FYX XLI ;MROPIV
QSHIPMW[MHIP]YWIHJSVHIWMKRERHERYQFIVSJMRZIWXMKEXSVW
LEZIVITSVXIHKSSHEKVIIQIRXFIX[IIRSFWIVZIHVIWTSRWIW
XSXLI;MROPIVFEWIHTVIHMGXMSRW
*MRMXIIPIQIRX QIXLSH{8LI GPEWWMGEP HMJJIVIRXMEP
IUYEXMSRSJEXLMRIPEWXMGTPEXIVIWXMRKSRERIPEWXMGWYFKVEHI
MW SJXIR YWIH XS VITVIWIRX XLI WPEFSRKVSYRH 7SPZMRK XLI
KSZIVRMRKIUYEXMSRWF]GSRZIRXMSREPQIXLSHWMWJIEWMFPIJSV
WMQTPMJMIHQSHIPW[LIVIWPEFERHWYFKVEHIEVIEWWYQIHXS
FI GSRXMRYSYW ERH LSQSKIRISYW -R VIEPMX] E WPEFSR
KVSYRHYWYEPP] GSRXEMRW HMWGSRXMRYMXMIW WYGL EW NSMRXWERH
GVEGOWERHXLIWYFKVEHIWYTTSVXQE]RSXFIYRMJSVQ8LYW
XLIYWISJXLMWETTVSEGLMWPMQMXIH
8LIJMRMXIIPIQIRXQIXLSHGERFIYWIHXSEREP]^IWPEFW
SRKVSYRH TEVXMGYPEVP] XLSWI [MXL HMWGSRXMRYMXMIW :EVMSYW
QSHIPWLEZIFIIRTVSTSWIHXSVITVIWIRXXLIWPEF 7TIEVWERH
4EREVIWI 4MGLYQERM 8]TMGEPP] XLIWI QSHIPW
YWIGSQFMREXMSRWSJIPIQIRXWWYGLEWIPEWXMGFPSGOWVMKMH
FPSGOWERHXSVWMSRFEVWXSVITVIWIRXXLIWPEF8LIWYFKVEHI
MW X]TMGEPP] QSHIPIH F] PMRIEV WTVMRKW ;MROPIV WYFKVEHI
TPEGIH YRHIV XLI RSHEP NSMRXW ;LIVIEW XLI JMRMXIIPIQIRX
QIXLSHSJJIVWKSSHTSXIRXMEPJSVGSQTPI\TVSFPIQWKVETLMGEP
WSPYXMSRWERHWMQTPMJMIHHIWMKRIUYEXMSRWLEZIFIIRXVEHM
XMSREPP]YWIHJSVHIWMKR8LIIZSPYXMSRSJQSHIVRGSQTYXIV
WSJX[EVI LEW QEHI QSHIPMRK [MXL JMRMXI IPIQIRXW QSVI
JIEWMFPIMRXLIHIWMKRSJJMGIWIXXMRK
{'SRWXVYGXMSRHSGYQIRXMRJSVQEXMSR
0MWXIHFIPS[MWXLIQMRMQYQMRJSVQEXMSRXLEXWLSYPHFI
EHHVIWWIH MR XLI GSRWXVYGXMSR HSGYQIRXW TVITEVIH F] XLI
HIWMKRIV6IJIVXS%'-6JSVMRJSVQEXMSRVIPEXIHXSXLI
MRWXEPPEXMSRERHGSRWXVYGXMSRJSVWSQISJXLIWIMXIQW
e 7PEFSRKVSYRHHIWMKRGVMXIVME
e &EWIERHWYFFEWIQEXIVMEPWTVITEVEXMSRVIUYMVIQIRXW
ERHZETSVVIXEVHIVFEVVMIV[LIRVIUYMVIH
e 'SRGVIXIXLMGORIWW
e 'SRGVIXI GSQTVIWWMZI WXVIRKXL SV JPI\YVEP WXVIRKXL
SVFSXL
e 'SRGVIXI QM\XYVI TVSTSVXMSR VIUYMVIQIRXW YPXMQEXI
HV]WLVMROEKIWXVEMRSVFSXL
e .SMRXPSGEXMSRWERHHIXEMPW
e 6IMRJSVGIQIRX X]TIWM^IERHPSGEXMSR [LIRVIUYMVIH
e 7YVJEGIXVIEXQIRX[LIRVIUYMVIH
e 7YVJEGIJMRMWL
()7-+23*70%&732+6392(
e
8SPIVERGIW FEWI WYFFEWI WPEF XLMGORIWW ERHJPSSV
JPEXRIWWERHPIZIPRIWW e 'SRGVIXIGYVMRK
e .SMRXJMPPMRKQEXIVMEPERHMRWXEPPEXMSR
e 7TIGMEPIQFIHQIRXW
e 8IWXMRKVIUYMVIQIRXWERH
e 4VIGSRWXVYGXMSR QIIXMRK UYEPMX] EWWYVERGI ERH UYEPMX]
GSRXVSP
7PEFSRKVSYRH HIWMKR GVMXIVME{-X MW LIPTJYP XLEX
[LIRXLIWPEFSRKVSYRHHIWMKRGVMXIVMEEVI[IPPIWXEFPMWLIH
XLEXMXFIWLS[RSRXLIHVE[MRKW8LMWMRJSVQEXMSRMWIWTIGMEPP]
YWIJYP[LIRJYXYVIQSHMJMGEXMSRWEVIQEHIXSXLIWPEFSVMXW
YWI(IWMKRMWWYIWWYGLEWXLIWPEFGSRXVMFYXMRKXS[MRHSV
WIMWQMG VIWMWXERGI SV FYMPHMRK JSYRHEXMSR YTPMJX JSVGIW
[SYPHRSXFIVIEHMP]ETTEVIRXYRPIWWRSXIHSRXLIHVE[MRKW
&IGEYWIMXMWRSXVIEHMP]ETTEVIRX[LIREWPEFMWYWIHEWE
LSVM^SRXEP HMETLVEKQ MX WLSYPH FI RSXIH SR XLI HVE[MRKW
6IQSZMRKSVGYXXMRKEWPEFXLEXMWHIWMKRIHXSVIWMWXYTPMJXSV
LSVM^SRXEPJSVGIWGSYPHWIVMSYWP]MQTEMVXLIFYMPHMRKvWWXEFMPMX]
8LIHIWMKRGVMXIVMEWLSYPHMRGPYHIWSQISJXLIJSPPS[MRK
e +ISXIGLRMGEP WSMP TVSTIVXMIW YWIH JSV XLI HMJJIVIRX
PSEHMRKX]TIW
e 9RMJSVQWXSVEKIPSEHMRK
e 0MJXXVYGOERHZILMGPIPSEHMRKW
e 6EGOPSEHMRKW
e 0MRIPSEHW
e )UYMTQIRXPSEHW
e ;LIRXLIWPEFMWYWIHXSVIWMWX[MRHSVWIMWQMGJSYRHEXMSR
YTPMJXJSVGIWERH
e ;LIRXLIWPEFMWYWIHEWELSVM^SRXEPHMETLVEKQERHXS
VIWMWX LSVM^SRXEP JSVGIW SV FSXL HYI XS XMPX[EPPW
QEWSRV] [EPPW XSTW SJ VIXEMRMRK [EPPW ERH QIXEP
FYMPHMRKW]WXIQGSPYQRW
6IJIVXS%TTIRHM\JSVERI\EQTPISJHIWMKRGVMXIVME
*PSSVJPEXRIWWERHPIZIPRIWWXSPIVERGIW{8SPIVERGIW
JSV JPSSV YWIW WLSYPH GSRJSVQ XS %'- *SV EHHMXMSREP
MRJSVQEXMSR MRGPYHMRK LS[ XS WTIGMJ] JPSSV JPEXRIWW ERH
PIZIPRIWW VIUYMVIQIRXWVIJIV XS %'- GSQQIRXEV] ERH
%'-6
;LIR YWMRK WPEFW MR SJJMGIW EVIEW SJ TIHIWXVMER XVEJJMG
[MHI EMWPI [EVILSYWMRK ERH QERYJEGXYVMRK [LIVI XLI
QSZIQIRXMWMRXIRHIHXSFIVERHSQMRER]HMVIGXMSRXLIRE
VERHSQ XVEJJMG XSPIVERGI W]WXIQ WYGL EW ***0 WLSYPH FI
HIWMKREXIH 8LI WYFNIGX EVIEW WLSYPH FI WLS[R SR XLI
GSRWXVYGXMSRHSGYQIRXWERHXSPIVERGIWWTIGMJMIH
-RHIJMRIHXVEJJMGEVIEWWYGLEWREVVS[EMWPISVZIV]REVVS[
EMWPI[EVILSYWMRKERHQERYJEGXYVMRK[LIVIZILMGPI TEXLW
EVI VIWXVEMRIH F] VEMP [MVI PEWIV SV XIPIQIXV] KYMHERGI
W]WXIQWEXSPIVERGIW]WXIQWYGLEW*QMRWLSYPHFIMQTPI
QIRXIH *YHEPE [MXL WYFNIGX EVIEW WLS[R SR XLI
GSRWXVYGXMSRHSGYQIRXWERHXSPIVERGIWWTIGMJMIH8EFPI
TVSZMHIW X]TMGEP HIJMRIH XVEJJMG ZEPYIW JSV HMJJIVIRX VEGO
LIMKLXWXLEXLEZIFIIRYWIHWYGGIWWJYPP]2EVVS[EMWPIERH
ZIV]REVVS[EMWPIW]WXIQWLS[IZIVYWIWTIGMEPM^IHIUYMTQIRX
ERH XLI QERYJEGXYVIVW WLSYPH FI GSRWYPXIH JSV *QMR
VIGSQQIRHEXMSRW
6
8EFPI{(IJMRIHXVEJJMGZEPYIW
XS XS
0SRKMXYHMREP*QMR
8VERWZIVWIj*QMR
XS XS
XS XS
XS XS
XS XS
XS XS
XS XS
XS XS
6EGOLIMKLXJX Q
0SRKMXYHMREPZEPYIFIX[IIRXLIJVSRXERHVIEVE\PI
j
8VERWZIVWIZEPYIFIX[IIRPSEHIH[LIIPXVEGOW
{*YVXLIVVIWIEVGL
8LIVIEVIQER]EVIEWXLEXRIIHEHHMXMSREPVIWIEVGL7SQI
SJXLIWIEVIEWEVI
e (IZIPSTMRKGSRGVIXIQM\XYVITVSTSVXMSRWXLEXLEZIPS[
WLVMROEKI GLEVEGXIVMWXMGW ERH EVI[SVOEFPI JMRMWLEFPI
ERHTVSZMHIEWIVZMGIEFPIWYVJEGI
e *PI\YVEPWXVIWWMRWPEFW[MXLGYVPERHETTPMIHPSEHWERH
LS[GYVPMRKWXVIWWIWGLERKISZIVXMQIHYIXSGVIIT
e &EWI VIWXVEMRX HYI XS WLVMROEKI ERH SXLIV ZSPYQI
GLERKIWERHLS[XLMWVIWXVEMRXGLERKIWSZIVXMQI
e 'VEGO [MHXLW JSV HMJJIVIRX EQSYRXW SJ VIMRJSVGIQIRX
JSVWPEFWSRKVSYRH
e 4VSZMHIKYMHERGISREGGITXEFPINSMRXERHGVEGO[MHXLW
JSVHMJJIVIRXWPEFYWEKIW
e 4VSZMHIHS[IPVIGSQQIRHEXMSRWFEWIHSRPSEHMRKW PMJX
XVYGOVEGOTSWXERHYRMJSVQWXSVEKI VEXLIVXLERWPEF
XLMGORIWW
e 4VSZMHITPEXIHS[IPWTEGMRKVIGSQQIRHEXMSRWJSVTPEXI
HS[IPKISQIXVMIW
e 4VSZMHIHIWMKRKYMHERGIJSVWPEFW[MXLQEGVSW]RXLIXMG
JMFIVW
e 4VSZMHIHIWMKREMHWJSVWPEFW[MXLVEGOYTPMJXPSEHWHYI
XSWIMWQMGERHSXLIVYTPMJXPSEHMRKW
e 4VSZMHI HIWMKR EMHW JSV WPEFW [MXL RSRYRMJSVQ VEGO
TSWXPSEHW
e (IZIPSTEWXERHEVHM^IHQIXLSHJSVXIWXMRKERHWTIGMJ]MRK
WPEFWYVJEGIEFVEWMSRVIWMWXERGI
e 7SMP TVSTIVXMIW ERH LS[ XLI] QE] GLERKI SZIV XMQI
YRHIVPSEHVITIXMXMSRW[MHIEVIEPSRKXIVQPSEHMRKWSV
FSXLERH
e 6IGSQQIRHIHNSMRXWTEGMRKJSVJMFIVVIMRJSVGIHGSRGVIXI
',%48)6{()*-2-8-327
{(IJMRMXMSRW
%'-TVSZMHIWEGSQTVILIRWMZIPMWXSJHIJMRMXMSRWXLVSYKL
ER SRPMRI VIWSYVGI w%'- 'SRGVIXI 8IVQMRSPSK]x LXXT
XIVQMRSPSK]GSRGVIXISVK (IJMRMXMSRW TVSZMHIH LIVIMR
GSQTPIQIRXXLEXVIWSYVGI
GYVPMRK SV [EVTMRK{SYXSJTPERI HIJSVQEXMSR SJ XLI
GSVRIVWIHKIWERHWYVJEGISJETEZIQIRXWPEFSV[EPPTERIP
JVSQMXWSVMKMREPWLETI
WPEFSRKVSYRHzzWPEFWYTTSVXIHF]KVSYRH[LSWIQEMR
TYVTSWI MW XS WYTTSVX XLI ETTPMIH PSEHW F] FIEVMRK SR XLI
KVSYRH
6
%'-'311-88))6)4368
',%48)6{70%&8=4)7
{-RXVSHYGXMSR
'LETXIV MHIRXMJMIW ERH FVMIJP] HMWGYWWIW XLI GSQQSR
X]TIW SJ WPEFSRKVSYRH GSRWXVYGXMSR 8LI XIVQ wWPEFSR
KVSYRHxMWTVIJIVVIHFYXwWPEFSRKVEHIxMWSJXIRYWIH7PEF
SRKVSYRH MRGPYHIW MRXIVMSV WPEFW WYFNIGX XS PSEHMRKW EW
HIWGVMFIHMR'LETXIV8LIWIMRGPYHIMRHYWXVMEPGSQQIVGMEP
VIWMHIRXMEP ERH VIPEXIH ETTPMGEXMSRW %PXLSYKL XLI XIVQ
QMKLXMRGPYHITEVOMRKPSXERHVSEH[E]TEZIQIRXWXLMWKYMHI
HSIWRSXWTIGMJMGEPP]EHHVIWWXLIQ
%R MQTSVXERX VIWTSRWMFMPMX] SJ XLI WPEF HIWMKRIV MW XS
HMWGYWW XLI VIUYMVIQIRXW SJ XLI JPSSV WPEF [MXL XLIS[RIV
(MWGYWWMSRWWLSYPHMRGPYHIXLIEHZERXEKIWERHHMWEHZERXEKIW
SJXLIHMJJIVIRXWPEFX]TIWERHLS[XLI]VIPEXIXSXLIS[RIVvW
VIUYMVIQIRXW-XMWMQTSVXERXJSVXLMWHMWGYWWMSRXSSGGYVWS
XLI S[RIV LEW VIEWSREFPI I\TIGXEXMSRW SJ XLI WPEF TIVJSV
QERGI ERH VIUYMVIH JYXYVI QEMRXIRERGI JSV XLI WPEF X]TI
WIPIGXIH 7SQI SJ XLI QSVI MQTSVXERX I\TIGXEXMSRW XLEX
WLSYPHFIHMWGYWWIHJSVXLITVSWTIGXMZIWPEFX]TIEVI
e 'VEGOMRKTSXIRXMEP
e 'VEGO[MHXLWJSVWPEFWHIWMKRIH[MXLVIMRJSVGIQIRXXS
PMQMXGVEGO[MHXLW
e 9WISJHS[IPIHNSMRXWZIVWYWEKKVIKEXIMRXIVPSGO
e 4SWWMFPIJYXYVIVITEMVWMRGPYHMRKNSMRXHIXIVMSVEXMSR
e .SMRX QEMRXIRERGI VIUYMVIQIRXW ERH XLI S[RIV W
VIWTSRWMFMPMX]JSVXLMWQEMRXIRERGI
e *PSSV JPEXRIWW ERH PIZIPRIWW VIUYMVIQIRXW XS QIIX XLI
S[RIVvWRIIHW
e 'LERKIWXSXLIJPEXRIWWERHPIZIPRIWWSZIVXMQIIWTIGMEPP]
MRPS[LYQMHMX]IRZMVSRQIRXW
e %HZERXEKIW ERHHMWEHZERXEKIWSJWPEFTPEGIQIRX [MXL
XLI [EXIVXMKLX VSSJMRK W]WXIQ MR TPEGI ZIVWYW TPEGMRK
XLIWPEFMRXLISTIR
e 0IZIPSJQSMWXYVIZETSVVIWMWXERGIVIUYMVIHERH
e %HZERXEKIW ERH HMWEHZERXEKIW SJ YWMRK XLI FYMPHMRK
JPSSVWPEFJSVXMPX[EPPGSRWXVYGXMSRJSVQERHXIQTSVEV]
FVEGMRK
{7PEFX]TIW
8LIVI EVI JSYV FEWMG HIWMKR GLSMGIW JSV WPEFSRKVSYRH
GSRWXVYGXMSR
9RVIMRJSVGIHGSRGVIXIWPEF
7PEFWVIMRJSVGIHXSPMQMXGVEGO[MHXLWHYIXSWLVMROEKI
ERH XIQTIVEXYVI VIWXVEMRX ERH ETTPMIH PSEHW 8LIWI WPEFW
GSRWMWXSJ
E 2SRTVIWXVIWWIH WXIIP FEV [MVI VIMRJSVGIQIRX SV
JMFIVVIMRJSVGIQIRXEPP[MXLGPSWIP]WTEGIHNSMRXWERH
F'SRXMRYSYWP]VIMRJSVGIHJVIISJWE[GYXGSRXVEGXMSR
NSMRXW
7PEFWVIMRJSVGIHXSTVIZIRXGVEGOMRKHYIXSWLVMROEKI
ERH XIQTIVEXYVI VIWXVEMRX ERH ETTPMIH PSEHW 8LIWI WPEFW
GSRWMWXSJ
E7LVMROEKIGSQTIRWEXMRKGSRGVIXIERH
F4SWXXIRWMSRIH
7XVYGXYVEPWPEFWHIWMKRIHMREGGSVHERGI[MXL%'-
E4PEMRGSRGVIXIERH
F6IMRJSVGIHGSRGVIXI
9RVIMRJSVGIH GSRGVIXI WPEF{8LI XLMGORIWW MW
HIXIVQMRIH EW E GSRGVIXI WPEF [MXLSYX VIMRJSVGIQIRX
LS[IZIVMXQE]LEZINSMRXWWXVIRKXLIRIH[MXLWXIIPHS[IPW
-X MW HIWMKRIH XS VIQEMR YRGVEGOIH FIX[IIR NSMRXW [LIR
PSEHIH ERH VIWXVEMRX XS GSRGVIXI ZSPYQIXVMG GLERKIW
9RVIMRJSVGIHGSRGVIXIWPEFWHSRSXGSRXEMRQEGVSW]RXLIXMG
JMFIVW [MVI VIMRJSVGIQIRX WXIIP JMFIVW TPEMR SV HIJSVQIH
FEVWTSWXXIRWMSRMRKSVER]SXLIVX]TISJWXIIPVIMRJSVGIQIRX
8]TI - SV -- TSVXPERH GIQIRX %781 ''1 MW
RSVQEPP] YWIH (V]MRK WLVMROEKI IJJIGXW ERH YRMJSVQ
WYFKVEHIWYTTSVXSRWPEFGVEGOMRKEVIGVMXMGEPXSXLITIVJSV
QERGISJYRVIMRJSVGIHGSRGVIXIWPEFW6IJIVXS'LETXIVJSV
YRVIMRJSVGIHWPEFHIWMKRQIXLSHW
7PEFWVIMRJSVGIHJSVGVEGO[MHXLGSRXVSP{8LMGORIWW
HIWMKRGERFIXLIWEQIEWJSVYRVIMRJSVGIHGSRGVIXIWPEFW
ERHXLI]EVIHIWMKRIHXSVIQEMRYRGVEGOIH[LIRPSEHIH*SV
WPEFW GSRWXVYGXIH [MXL TSVXPERH GIQIRX WLVMROEKI GVEGO
[MHXLW [LIRGVEGOMRKSGGYVW FIX[IIRNSMRXWEVIGSRXVSPPIH
F] E RSQMREP UYERXMX] SJ HMWXVMFYXIH VIMRJSVGIQIRX 7PEFW
VIMRJSVGIQIRXGERGSRWMWXSJFEVW[IPHIH[MVIVIMRJSVGIQIRX
WLIIXW WXIIPJMFIVWSVQEGVSW]RXLIXMGJMFIVW&EVERH [MVI
VIMRJSVGIQIRXWLSYPHFIWXMJJIRSYKLXSFIEGGYVEXIP]PSGEXIH
MRXLIYTTIVSJXLIWPEF
&EVW SV [IPHIH [MVI VIMRJSVGIQIRX EVI YWIH XS TVSZMHI
JPI\YVEPWXVIRKXLEXEGVEGOIHWIGXMSR-RXLMWGEWIERHJSV
WPEFWSJMRWYJJMGMIRXXLMGORIWWXSGEVV]XLIETTPMIHPSEHWEWER
YRVIMRJSVGIH WPEF XLI VIMRJSVGIQIRX VIUYMVIH JSV JPI\YVEP
WXVIRKXL WLSYPH FI WM^IH F] VIMRJSVGIH GSRGVIXI XLISV] EW
HIWGVMFIHMR%'-9WMRKXLIQIXLSHWMR%'-[MXL
LMKL WXIIP VIMRJSVGIQIRX WXVIWWIW LS[IZIV QE] PIEH XS
YREGGITXEFPI GVEGO [MHXLW &YMPHMRK GSHIW HS RSX WYTTSVX
XLIYWISJJMFIVVIMRJSVGIQIRXXSTVSZMHIJPI\YVEPWXVIRKXLMR
GVEGOIH WIGXMSRW JSV ZIVXMGEP SV PEXIVEP JSVGIW JVSQ SXLIV
TSVXMSRWSJEWXVYGXYVI
3XLIV XLER TSWXXIRWMSRMRK SV XLI VIMRJSVGIQIRX MR E
WLVMROEKIGSQTIRWEXMRK WPEF VIMRJSVGIQIRX HSIW RSX
TVIZIRXGSRGVIXIGVEGOMRK8]TMGEPP]XLIQSWXIGSRSQMGEP
[E]XSMRGVIEWIJPI\YVEPWXVIRKXLMWXSMRGVIEWIXLIWPEFXLMGORIWW
'LETXIVW ERH GSRXEMR HIWMKR QIXLSHW JSV WPEFW
VIMRJSVGIHJSVGVEGO[MHXLGSRXVSP
7PEFW VIMRJSVGIH XS TVIZIRX GVEGOMRK{4SWX
XIRWMSRIHWPEFWERHWLVMROEKIGSQTIRWEXMRKWPEFWEVIX]TMGEPP]
HIWMKRIH RSXXS GVEGOFYXWSQIMRGMHIRXEPQMRSVGVEGOMRK
QE] SGGYV *SV WLVMROEKIGSQTIRWEXMRK WPEFW XLI WPEF MW
HIWMKRIHYRVIMRJSVGIHERHXLIVIMRJSVGIQIRXMWHIWMKRIHXS
TVIWXVIWWXLII\TERHMRKWPEFXSSJJWIXXLIWXVIWWIWGEYWIHF]
XLIWLVMROEKIERHXIQTIVEXYVIVIWXVEMRX*SVTSWXXIRWMSRIH
WPEFWXLIVIMRJSVGIQIRXMWX]TMGEPP]HIWMKRIHXSGSQTIRWEXI
JSVWLVMROEKIERHXIQTIVEXYVIVIWXVEMRXWXVIWWERHETTPMIHPSEHW
7LVMROEKIGSQTIRWEXMRK GSRGVIXI WPEFW EVI TVSHYGIH
IMXLIV[MXLEWITEVEXIGSQTSRIRXEHQM\XYVISV[MXL%781
'8]TI/I\TERWMZIGIQIRX8LMWGSRGVIXIHSIWWLVMRO
FYXJMVWXI\TERHWXSEREQSYRXMRXIRHIHXSFIWPMKLXP]KVIEXIV
XLERMXWHV]MRKWLVMROEKI8SPMQMXXLIMRMXMEPWPEFI\TERWMSR
ERHXSTVIWXVIWWXLIGSRGVIXIVIMRJSVGIQIRXMWHMWXVMFYXIHMR
XLIYTTIVSJXLIWPEF7YGLVIMRJSVGIQIRXWLSYPHFIVMKMH
ERHTSWMXMZIP]TSWMXMSRIH8LIWPEFWLSYPHFIMWSPEXIHJVSQ
JM\IHTSVXMSRWSJXLIWXVYGXYVIWYGLEWGSPYQRWERHTIVMQIXIV
()7-+23*70%&732+6392(
6
8EFPI{+IRIVEPGSQTEVMWSRSJWPEFX]TIW
7PEFX]TI
%HZERXEKIW
(MWEHZERXEKIW
e 6IUYMVIWVIPEXMZIP]GPSWIP]WTEGIHWE[GYXGSRXVEGXMSR
NSMRXW
e 7MQTPIXSGSRWXVYGX
9RVIMRJSVGIHGSRGVIXI
e +IRIVEPP]MWPIWWI\TIRWMZIXSMRWXEPPXLERWPEFWHIWMKRIH ee 1SVISTTSVXYRMX]JSVWPEFGYVPERHNSMRXHIXIVMSVEXMSR
0EVKIRYQFIVSJNSMRXWXSQEMRXEMR
F]SXLIVQIXLSHW
e 4SWMXMZIPSEHXVERWJIVQE]FIVIUYMVIHEXNSMRXW
e *PEXRIWWERHPIZIPRIWWQE]HIGVIEWISZIVXMQI
e 1E]FIQSVII\TIRWMZIXLERERYRVIMRJSVGIHWPEF
6IMRJSVGIH[MXLHIJSVQIHFEVWSV
e 6IMRJSVGIQIRXGEREGXYEPP]MRGVIEWIXLIRYQFIVSJ
[IPHIH[MVIVIMRJSVGIQIRXWLIIXW e 6IMRJSVGIQIRXMWYWIHXSPMQMXWGVEGO[MHXL
VERHSQGVEGOWTEVXMGYPEVP]EX[MHIVNSMRXWTEGMRKW
JSVGVEGO[MHXLGSRXVSP
e 1SVISTTSVXYRMX]JSVWPEFGYVPERHNSMRXHIXIVMSVEXMSR
e 4SWMXMZIPSEHXVERWJIVQE]FIVIUYMVIHEXNSMRXW
e 7E[GYXGSRXVEGXNSMRXWGERFIIPMQMREXIH[LIVIWYJJMGMIRX e 6IUYMVIWVIPEXMZIP]LMKLEQSYRXW EXPIEWX SJ
VIMRJSVGIQIRXMWYWIH
'SRXMRYSYWP]VIMRJSVGIH[MXL
GSRXMRYSYWVIMRJSVGIQIRXTPEGIHRIEVXLIXSTSJXLIWPEF
e )PMQMREXIWWE[GYXGSRXVEGXMSRNSMRXQEMRXIRERGI
HIJSVQIHFEVWSV[IPHIH[MVI
XSIPMQMREXINSMRXW
e
'YVPMRKMWVIHYGIH[LIRLMKLEQSYRXWSJVIMRJSVGIQIRX
VIMRJSVGIQIRXQEXW
e 8]TMGEPP]TVSHYGIWRYQIVSYWGPSWIP]WTEGIHJMRIGVEGOW
EVIYWIH
ETTVS\MQEXIP]XSJX?XSQA XLVSYKLSYXWPEF
e 0IWWGLERKIWMRJPEXRIWWERHPIZIPRIWW[MXLXMQI
e 6IUYMVIWVIMRJSVGIQIRXXSHIZIPSTWLVMROEKIGSQTIRWEXMSR
e ;MRHS[SJJMRMWLEFMPMX]MWVIHYGIH
e %PPS[ERGIWLSYPHFIQEHIJSVGSRGVIXIXSI\TERHFIJSVI
HV]MRKWLVMROEKIFIKMRW
e 'SRWXVYGXMSRWIUYIRGMRKSJEHNEGIRXWPEFTERIPWWLSYPH
FIGSRWMHIVIHSVNSMRXWWLSYPHFIHIXEMPIHJSVI\TERWMSR
e 'SRXVEGXSVWLSYPHLEZII\TIVMIRGI[MXLXLMWX]TISJ
GSRGVIXI
e 1SVIHIQERHMRKMRWXEPPEXMSR
e 'SRXVEGXSVWLSYPHLEZII\TIVMIRGI[MXLTSWXXIRWMSRMRK
SVIQTPS]EGSRWYPXERX[MXLTSWXXIRWMSRMRKI\TIVMIRGI
e -RWTIGXMSRIWWIRXMEPXSIRWYVITVSTIVTPEGIQIRXERH
WXVIWWMRKSJXIRHSRW
e 9RIGSRSQMGEPJSVWQEPPEVIEW
e 2IIHXSHIXEMPJPSSVTIRIXVEXMSRWERHTIVMQIXIVJSV
WPEFQSZIQIRX
e -QTEGXSJGYXXMRKXIRHSRWWLSYPHFIIZEPYEXIHJSV
TSWXGSRWXVYGXMSRWPEFTIRIXVEXMSRW
e 1E]VIUYMVIEHNYWXQIRXWXSWXERHEVHGSRGVIXIQM\MRK
TPEGIQIRXERHJMRMWLMRKTVSGIHYVIW
e -RGVIEWIHVIWMWXERGIXSMQTEGXERHJEXMKYIPSEHMRKW[LIR e *MFIVWQE]FII\TSWIHSRXLIWYVJEGISJWPEF
GSQTEVIHXSWPEFWVIMRJSVGIH[MXLFEVWSVQIWL
e *PSSVWWYFNIGXIHXS[IXGSRHMXMSRWQE]RSXFIWYMXEFPI
e 7MQTPIXSGSRWXVYGX
JSVWXIIPJMFIVFIGEYWIJMFIVWGPSWIXSXLIWYVJEGIERHMR
[EXIVTIVQIEFPIGVEGOW[MPPVYWX
e ,IPTWVIHYGITPEWXMGWLVMROEKIGVEGOMRK
e 1MGVSW]RXLIXMGJMFIVWHSRSXLIPTMRGSRXVSPPMRKHV]MRK
e 7MQTPIXSGSRWXVYGX
WLVMROEKIGVEGOW
e 1EGVSW]RXLIXMGJMFIVWTVSZMHIMRGVIEWIHVIWMWXERGIXS
e .SMRXWTEGMRKJSVQMGVSW]RXLIXMGJMFIVVIMRJSVGIHWPEFW
MQTEGXERHJEXMKYIPSEHMRKWWMQMPEVXSWXIIPJMFIVW
EVIXLIWEQIEWYRVIMRJSVGIHWPEFW
e 7]RXLIXMGJMFIVWHSRSXGSVVSHI
e 7PEFWGERGEVV]WXVYGXYVEPPSEHWWYGLEWQI^^ERMRIW
e 7PEFQE]LEZIRYQIVSYWJMRISVLEMVPMRIGVEGOWMJ
e 6IHYGIWSVIPMQMREXIWWE[GYXGSRXVEGXMSRNSMRXW[LIVI
VIMRJSVGIQIRXWXVIWWIWEVIWYJJMGMIRXP]PS[
WYJJMGMIRXVIMRJSVGIQIRXMWYWIH
e %PPS[WGSRWXVYGXMSRNSMRXWTEGMRKWSJXSJX XS
Q e 7E[GYXGSRXVEGXMSRNSMRXWEVIRSVQEPP]RSXVIUYMVIH
e 6IHYGIWNSMRXQEMRXIRERGIGSWXHYIXSMRGVIEWIHWTEGMRKSJ
7LVMROEKIGSQTIRWEXMRKGSRGVIXI
XLINSMRXWVIHYGMRKXLIXSXEPEQSYRXSJNSMRXW
e 2IKPMKMFPIGYVPEXXLINSMRXW
e -RGVIEWIWWYVJEGIHYVEFMPMX]ERHEFVEWMSRVIWMWXERGI
%'-7IGXMSR{(YVEFMPMX] e 'SRWXVYGXMSRWTEGMRKWXSJX XSQ e 1SWXWLVMROEKIERHJPI\YVEPGVEGOWGERFIEZSMHIH
e )PMQMREXIWWE[GYXGSRXVEGXMSRNSMRXWERHXLIMV
QEMRXIRERGI
e 2IKPMKMFPIWPEFGYVP[LIRXIRHSRWEVIHVETIHRIEVNSMRX
4SWXXIRWMSRIH
IRHW
e -QTVSZIHPSRKXIVQJPEXRIWWERHPIZIPRIWW
e (IGVIEWIHWPEFXLMGORIWWSVMRGVIEWIHJPI\YVEPWXVIRKXL
e 6IWMPMIRX[LIRSZIVPSEHIH
e %HZERXEKIWMRTSSVWSMPGSRHMXMSRW
7XIIPJMFIVVIMRJSVGIHGSRGVIXI
7]RXLIXMGJMFIVVIMRJSVGIH
GSRGVIXI
7XVYGXYVEPWPEFWVIMRJSVGIHJSV
FYMPHMRKGSHIVIUYMVIQIRXW
JSYRHEXMSRW [MXL E GSQTVIWWMFPI QEXIVMEP XLEX EPPS[W XLI
MRMXMEPWPEFI\TERWMSR
6IJIVXS'LETXIVWERH JSVHIWMKRQIXLSHWJSVWPEFW
VIMRJSVGIHXSTVIZIRXGVEGOMRK
7XVYGXYVEP WPEFW{7XVYGXYVEP TPEMR ERH VIMRJSVGIH
WPEFWXLEXXVERWQMXZIVXMGEPPSEHWSVPEXIVEPJSVGIWJVSQSXLIV
TSVXMSRW SJ XLI WXVYGXYVI XS XLI WSMP WLSYPH FI HIWMKRIH MR
EGGSVHERGI [MXL %'- 9WMRK XLIQIXLSHW MR %'- [MXLLMKLWXIIPVIMRJSVGIQIRXWXVIWWIWLS[IZIVQE]PIEHXS
YREGGITXEFPIGVEGO[MHXLW
{(IWMKRERHGSRWXVYGXMSRZEVMEFPIW
(IWMKRERHGSRWXVYGXMSRSJWPEFWSRKVSYRHMRZSPZIWFSXL
XIGLRMGEPERHLYQERJEGXSVW8IGLRMGEPJEGXSVWMRGPYHIPSEHMRKW
WSMPWYTTSVXW]WXIQWNSMRXX]TIWERHWTEGMRKWHIWMKRQIXLSH
WPEF X]TI GSRGVIXI QM\XYVI HIZIPSTQIRX SJ QEMRXIRERGI
TVSGIHYVIW ERH XLI GSRWXVYGXMSR TVSGIWW ,YQER JEGXSVW
MRGPYHI XLI [SVOIVWv EFMPMXMIW JIIHFEGO XS IZEPYEXI XLI
GSRWXVYGXMSRTVSGIWWERHGSRJSVQERGI[MXLTVSTIVQEMR
XIRERGI TVSGIHYVIW JSV GVEGOMRK GYVPMRK ERH WLVMROEKI
8LIWI ERH SXLIV JEGXSVW WLSYPH FI GSRWMHIVIH [LIR
HIWMKRMRKEWPEF ;IWXIVKEEVH {+IRIVEPGSQTEVMWSRSJWPEFX]TIW
8SEWWMWX[MXLWIPIGXMRKXLIQSWXETTVSTVMEXIWPEFX]TI
JSV XLI TEVXMGYPEV TVSNIGX 8EFPI TVSZMHIW KIRIVEP
EHZERXEKIWERHHMWEHZERXEKIWJSVXLIWPEFX]TIWHMWGYWWIH
MR 7IGXMSR
{'SRGPYWMSR
2S WMRKPI WPEF HIWMKR QIXLSH MW VIGSQQIRHIH JSV EPP
ETTPMGEXMSRW6EXLIVJVSQXLIRYQFIVSJMHIRXMJMEFPIGSRWXVYG
XMSR GSRGITXW ERH HIWMKR QIXLSHW E GSQFMREXMSR WLSYPH FI
WIPIGXIHFEWIHSRXLIVIUYMVIQIRXWSJXLIWTIGMJMGETTPMGEXMSR
6
%'-'311-88))6)4368
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70%&732+6392(
{-RXVSHYGXMSR
8LI HIWMKR SJ WPEFWSRKVSYRH XS VIWMWX QSQIRXW ERH
WLIEVW GEYWIH F] ETTPMIH PSEHW HITIRHW SR XLI MRXIVEGXMSR
FIX[IIR XLI GSRGVIXI WPEF ERH XLI WYTTSVXMRK QEXIVMEPW
4VSTIVXMIW ERH HMQIRWMSRW SJ XLI WPEF ERH XLI WYTTSVXMRK
QEXIVMEPW EVI MQTSVXERX MR XLI HIWMKR SJ E WPEFSRKVSYRH
8LIWYTTSVXW]WXIQWLSYPHFISJEGGITXEFPIYRMJSVQWXVIRKXL
ERHRSXIEWMP]WYWGITXMFPIXSXLIIJJIGXWSJGPMQEXMGGLERKIW
7PEFSRKVSYRH JEMPYVIW GER SGGYV FIGEYWI SJ ER MQTVSTIV
WYTTSVXW]WXIQ-WWYIWVIPEXIHXSXLIWYTTSVXW]WXIQSJXLI
WPEFSRKVSYRHMRGPYHI
e +ISXIGLRMGEPIRKMRIIVMRKVITSVXWTVSZMHMRKWSMPTVSTIVXMIW
e 7YFKVEHIGPEWWMJMGEXMSR
e 1SHYPYWSJWYFKVEHIVIEGXMSR
e (IWMKRSJXLIWPEFWYTTSVXW]WXIQ
e 7MXITVITEVEXMSRERH
e -RWTIGXMSRERHXIWXMRKSJXLIWPEFWYTTSVXW]WXIQ
8LMW GLETXIV MW PMQMXIH XS EWTIGXW SJ XLI WYTTSVX W]WXIQ
RIGIWWEV]JSVTVSTIVWPEFSRKVSYRHTIVJSVQERGI
8LIWPEFWYTTSVXW]WXIQGSRWMWXWSJEWYFKVEHIYWYEPP]E
FEWI ERH WSQIXMQIW E WYFFEWI EW MPPYWXVEXIH MR *MK 'VYWLIHVSGOKVEZIPWSVGSEVWIWERHWLEZILMKLWXVIRKXL
PS[GSQTVIWWMFMPMX]ERHLMKLTIVQIEFMPMX]EVIGSQQSRP]
YWIH EW FEWI GSYVWIW 'VYWLIH VSGO KVEZIPW WERHW WIPIGX
WSMPW ERH WXEFMPM^IH WSMPW EVI GSQQSRP] YWIH EW WYFFEWIW
ERHQE]FIYWIHEWFEWIQEXIVMEPW7SMPWMRXLIWYFKVEHIEVI
KIRIVEPP] XLI YPXMQEXI WYTTSVXMRK QEXIVMEPW FYX FIHVSGO
GSQTIXIRXSV[IEXLIVIHQE]EPWSFIIRGSYRXIVIH;LIRXLI
I\MWXMRKWSMPLEWYRMJSVQWXVIRKXLERHSXLIVRIGIWWEV]TVST
IVXMIWXSWYTTSVXXLIWPEFXLIWPEFQE]FITPEGIHHMVIGXP]SR
XLI I\MWXMRK WYFKVEHI 8LI I\MWXMRK KVEHI LS[IZIV MW
JVIUYIRXP]RSXEXXLIHIWMVIHIPIZEXMSRSVWPSTIERHWSQIGYX
ERHJMPPMWVIUYMVIH8SMQTVSZIWYVJEGIHVEMREKISVXSIPIZEXI
XLIJPSSVPIZIPGSRXVSPPIHJMPPYWMRKSRWMXISVMQTSVXIHWSMPW
MWVIUYMVIHSRWSQIWMXIW
{+ISXIGLRMGEPIRKMRIIVMRKVITSVXW
-RXVSHYGXMSR{+ISXIGLRMGEPIRKMRIIVMRKMRZIWXMKEXMSRW
WYTTP]WYFWYVJEGIWMXIMRJSVQEXMSRTVMQEVMP]JSVHIWMKRERH
GSRWXVYGXMSRSJXLIFYMPHMRKJSYRHEXMSRIPIQIRXWERHXSQIIX
FYMPHMRK GSHI VIUYMVIQIRXW ;MXLMR XLI KISXIGLRMGEP
IRKMRIIVMRK VITSVX WPEFSRKVSYRH WYTTSVX MW JVIUYIRXP]
HMWGYWWIHERHWYFKVEHIHVEMREKIERHTVITEVEXMSRVIGSQQIR
HEXMSRWEVIKMZIR)ZIR[LIRWPEFWYTTSVXMWRSXHMWGYWWIHMR
HIXEMPMRJSVQEXMSRKMZIR[MXLMRXLIWIVITSVXWWYGLEWFSVMRK
SVXIWXTMXPSKWJMIPHERHPEFSVEXSV]XIWXVIWYPXWERHHMWGYWWMSRW
SJ WYFWYVJEGI GSRHMXMSRW EVI YWIJYP MR IZEPYEXMRK WYFKVEHI
GSRHMXMSRWVIPEXMZIXSWPEFSRKVSYRHHIWMKRERHGSRWXVYGXMSR
&SVMRKSVXIWXTMXPSKW{(IWGVMTXMSRWKMZIRSRFSVMRK
SVXIWXTMXPSKWTVSZMHIMRJSVQEXMSRSRXLIXI\XYVISJXLIWSMPW
ERH XLIMV QSMWXYVI GSRHMXMSR ERH VIPEXMZI HIRWMX] [LIR
RSRGSLIWMZI SV GSRWMWXIRG] [LIR GSLIWMZI 8LIWI PSKW
TVIWIRXJMIPHXIWXVIWYPXWWYGLEWXLIWXERHEVHTIRIXVEXMSRXIWX
%781( MRFPS[WTIVMR QQ MRXIVZEPZEPYIW
8LIPSKRSXIWXLIPSGEXMSRSJXLI[EXIVXEFPIEXXLIXMQISJ
FSVMRKERHHITXLWXSWLEPPS[FIHVSGO8LI%XXIVFIVKPMQMXW
*MK{7PEFWYTTSVXW]WXIQXIVQMRSPSK]
ERHPEFSVEXSV]XIWXVIWYPXWWYGLEWXLIQSMWXYVIGSRXIRXERH
HV] HIRWMX] SJ GSLIWMZI WSMPW EVI SJXIR MRGPYHIH SR XLI
FSVMRK PSKW SV MR XLI KISXIGLRMGEP VITSVX %PWS XLI WSMP MW
GPEWWMJMIHEWHMWGYWWIHMR7IGXMSR
6ITSVX IZEPYEXMSRW ERH VIGSQQIRHEXMSRW{)ZEPYE
XMSRWERHVIGSQQIRHEXMSRWVIPEXMZIXSXLII\MWXMRKWYFKVEHI
QEXIVMEP MXW GSQTEGXMSR ERH WYTTSVXMRK GETEFMPMX] GER FI
MRGPYHIH MR XLI VITSVX ERH WLSYPH FI IZEPYEXIHEKEMRWX XLI
HIWMKR VIUYMVIQIRXW 8LI KISXIGLRMGEP IRKMRIIV QE]
TVSZMHIWYKKIWXMSRWJSVWYFFEWIERHFEWIGSYVWIQEXIVMEPW
-RWSQIGEWIWPSGEPQEXIVMEPWXLEXEVITIGYPMEVXSXLEXEVIE
WYGL EW GVYWLIH WIE WLIPPW QMRI XEMPMRKW FSXXSQ EWL ERH
SXLIV[EWXITVSHYGXWGERFIIGSRSQMGEPP]YWIH8LIPSGEP
KISXIGLRMGEP IRKMRIIV MW KIRIVEPP] ORS[PIHKIEFPI EFSYX
YWMRK XLIWI QEXIVMEPW MR XLI TVSNIGX EVIE 8LI I\TIGXIH
TIVJSVQERGIGLEVEGXIVMWXMGWSJXLIWPEFSRKVSYRHWLSYPHFI
QEHIORS[RXSXLIKISXIGLRMGEPIRKMRIIVFIJSVIXLIWYFWYVJEGI
MRZIWXMKEXMSRXSSFXEMRXLIFIWXIZEPYEXMSRERHVIGSQQIRHEXMSRW
*SV I\EQTPI WSQI SJ XLI MRJSVQEXMSR XLEX WLSYPH FI
TVSZMHIHXSXLIKISXIGLRMGEPIRKMRIIVMRGPYHIW
e *EGMPMX]YWIERHTVSTSWIHJPSSVIPIZEXMSR
e 8]TIERHQEKRMXYHISJERXMGMTEXIHPSEHW
e )RZMVSRQIRXEPGSRHMXMSRWSJXLIFYMPHMRKWTEGI
e *PSSVPIZIPRIWWERHJPEXRIWWGVMXIVMEERH
e *PSSVGSZIVMRKVIUYMVIQIRXW
-XQE]FIFIRIJMGMEPJSVXLIKISXIGLRMGEPIRKMRIIVXSZMWMX
PSGEP FYMPHMRKW SV SXLIV JEGMPMXMIW SJ XLI GPMIRX XLEX LEZI
WMQMPEV YWI 'SSVHMREXMSR FIX[IIR XLI KISXIGLRMGEP IRKMRIIV
ERH XLI WPEFSRKVSYRH HIWMKRIV JVSQ XLI FIKMRRMRK SJ XLI
TVSNIGXGERPIEHXSEREHIUYEXIERHIGSRSQMGEPWPEFWSRKVSYRH
{7YFKVEHIGPEWWMJMGEXMSR
7SMPWYTTSVXMRKXLIWPEFSRKVSYRHQE]QIIXXLIGVMXIVME
JSVEWYFFEWISVIZIREFEWIQEXIVMEPFYXWLSYPHFIMHIRXMJMIH
ERHGPEWWMJMIHXSIWXMQEXIMXWWYMXEFMPMX]EWEWYFKVEHI8LI
9RMJMIH7SMP'PEWWMJMGEXMSR7]WXIQMWTVIHSQMRERXP]YWIHMR
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6
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e ;MHXLERHPIRKXLSJPSEHIHEVIE
e %MWPI[MHXLERH
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8LIZEVMEFPIWJSVPMRIERHWXVMTPSEHWEVIWMQMPEVXSXLSWI
JSVHMWXVMFYXIHPSEHMRKWERHMRGPYHI
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e ;MHXLPIRKXLSJPSEHIHEVIEERH[LIRXLIPMRISVWXVMT
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e 0SEHHMWXVMFYXIHXSQSVIXLERSRIE\PIERH
e 1SVIXLERX[SSVJSYV[LIIPWTIVE\PI
8LIPSEHZEVMEFPIWEVIWMQMPEVXSXLSWIJSVXLIPSEHX]TIW
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e 4MGOYTXVYGOW
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e (YQTXVYGOW
e ,SMWXMRKIUYMTQIRXERHGVERIWYWIHJSVWXIIPIVIGXMSR
e 8MPX[EPPIVIGXMSRERHFVEGMRKPSEHWERH
e 7IXXMRKIUYMTQIRX
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PIKEPPMQMXW*SVHIWMKRVIJIVIRGIXLIZEPYIWWLS[RMR*MK
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EW JSYRHEXMSR IPIQIRXW IHKI [EPPW ERH TMXW WLSYPH FI
EZSMHIH6IMRJSVGIQIRXWLSYPHFITVSZMHIHEXWYGLVIWXVEMRXW
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e 1MRMQM^IGVEGOMRKERHGYVPMRK
e -RGVIEWIWYVJEGIHYVEFMPMX]
e 3TXMQM^INSMRXPSGEXMSRWERHNSMRXX]TIWJSVNSMRXWXEFMPMX]
[LMGL MW XLI HMJJIVIRXMEP HIJPIGXMSR SJ XLI EHNEGIRX WPEF
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