ENTER CONTACT INFORMATION HERE
Thought piece
Spotlight in Nursing Services
Chronic Wounds, a Costly Condition
By: Jill Mayrand, RN, Senior Director, Field Specialists, Premier, Inc.
Today’s healthcare systems are under increased financial pressures with the rising cost for the treatment of chronic wounds.
The data shows the United States spends well over 11 billion dollars annually on this patient population. Hospital-acquired
pressure ulcers (HAPU), or recently changed by the National Pressure Ulcer Advisory Panel (NPUAP) to hospital-acquired
pressure injuries (HAPI), are not reimbursable and members are very focused on prevention. Recent data shows that 17
percent of hospitalized patients have or will end up having a pressure ulcer. As the patient population ages, this will continue to
be a major concern. According to NPUAP, the average cost for one hospitalization to treat a Stage IV pressure ulcer can
exceed $120,000. Care of patients with chronic wounds can be very costly and complex for all.
So how does such injury occur? This tissue injury, or skin breakdown, forms when skin and soft tissues press against a harder
surface (e.g., chair or bed) for a prolonged period of time. Patients with risk factors require much less time than the healthy
population for injury to occur. Pressure ulcers may also form due to friction or shearing forces caused by dragging oneself up in
bed or being improperly moved into different positions. The pressure reduces blood supply to the area which causes the skin
tissue to become damaged or die. Damaged skin will initially turn red at the area under the pressure, and if care is not taken to
protect it from further damage, skin may break resulting in partial or full thickness tissue injury.
Risk factors contributing to skin breakdown include:
x Being over 70 years old
x Pediatric population with fragile skin
x Mobility problems
x Poor nutrition
x Underlying health condition that disrupts blood supply or makes skin more vulnerable to damage
x Urinary or bowel incontinence
With increased focus on prevention of HAPUs and the elimination of reimbursement for such conditions, it is critical that
Premier contracts include the necessary products and support to help members not only with prevention, but with the treatment
of all types of chronic wounds. The goal of Premier’s Nursing Committee is to develop a portfolio of products and programs that
will facilitate your healthcare professionals’ decision-making process by providing a succinct, product portfolio for the treatment
and prevention of chronic wounds throughout the continuum of care.
Some of the categories included in Premier’s “wound care portfolio” are:
x Digital Wound Management Systems, a new category
x Low Frequency Ultrasound Wound Therapy
x Negative Pressure Wound Therapy
x Regenerative Skin Grafting Products
x Skin Breakdown Prevention Products
x Skin Integrity: Compress Wraps
x Skin Integrity: Primary/Secondary Wound Care Dressings and Wound Debridement
x Skin Integrity: Skin Cleanser, Barrier and Lotion Products
Premier’s Nursing Committee is dedicated in the pursuit of bringing quality contracts that will assist the membership with the
treatment and prevention of chronic wounds.
.
PROPRIETARY AND CONFIDENTIAL ©2018 BY PREMIER HEALTHCARE ALLIANCE L.P.
THIS DOCUMENT MAY NOT BE REPRODUCED IN ANY FORM WITHOUT THE EXPRESS PERMISSION OF PREMIER HEALTHCARE ALLIANCE L.P.
2YHUYLHZRI3UHPLHU,QF
3UHPLHU,QFLVDOHDGLQJKHDOWKFDUHLPSURYHPHQWFRPSDQ\XQLWLQJDQDOOLDQFHRIDSSUR[LPDWHO\86KRVSLWDOVDQG
RWKHUSURYLGHUVWRWUDQVIRUPKHDOWKFDUH:LWKLQWHJUDWHGGDWDDQGDQDO\WLFVFROODERUDWLYHVVXSSO\FKDLQVROXWLRQV
DQGDGYLVRU\DQGRWKHUVHUYLFHV3UHPLHUHQDEOHVEHWWHUFDUHDQGRXWFRPHVDWDORZHUFRVW3UHPLHUSOD\VDFULWLFDOUROHLQWKH
UDSLGO\HYROYLQJKHDOWKFDUHLQGXVWU\FROODERUDWLQJZLWKPHPEHUVWRFRGHYHORSORQJWHUPLQQRYDWLRQVWKDWUHLQYHQWDQG
LPSURYHWKHZD\FDUHLVGHOLYHUHGWRSDWLHQWVQDWLRQZLGH
 2XUPLVVLRQ
7RLPSURYHWKHKHDOWKRIFRPPXQLWLHV
 2XUYLVLRQ
7KURXJKWKHFROODERUDWLYHSRZHURIWKH3UHPLHUDOOLDQFHZHZLOOOHDGWKHWUDQVIRUPDWLRQWRKLJKTXDOLW\FRVWHIIHFWLYH
KHDOWKFDUH
 +RZGRZHGRLW"
7KURXJKRXUSHRSOHRXUGDWDDQGRXUDELOLW\WRFRQQHFWKHDOWKFDUHRUJDQL]DWLRQVDFURVVWKHFRXQWU\
2XUSHRSOHDUHGHGLFDWHGWRPDNLQJKHDOWKFDUHEHWWHU:HDUHSDVVLRQDWHDERXWZKDWZHGR:HVKRZWKHXWPRVW
LQWHJULW\LQRXUZRUN:HVHHNRXWLQQRYDWLYHLGHDV$QGZHIRFXVRQUHVSHFWIRUHDFKRWKHU
2XUGDWDEDVHLVRQHRIWKHGHHSHVWDQGPRVWFRPSUHKHQVLYHLQWKHLQGXVWU\ZLWKGDWDRQPRUHWKDQSHUFHQWRI86
KRVSLWDOGLVFKDUJHVDQGDSSUR[LPDWHO\ELOOLRQLQJURXSSXUFKDVLQJYROXPH
2XUDELOLW\WRFRQQHFWLVRXUWUDGHPDUN,W¶VKRZZHVKDUHEHVWSUDFWLFHV,W¶VKRZZHVROYHSUHVVLQJLVVXHV,W¶VKRZDQGZK\
ZHEXLOGQHZWHFKQRORJLHV2QO\E\ZRUNLQJWRJHWKHUFDQZHRYHUFRPHWRGD\¶VIUDJPHQWHGV\VWHPDQGUHDOO\GULYH
LPSURYHPHQW
1XUVLQJ6HUYLFHV
7DEOHRI&RQWHQWV
1XUVLQJFDWHJRULHV
$FWLYH+XPLGLILFDWLRQ'HYLFHVDQG$FFHVVRULHV««««««« ,QIXVLRQ'HYLFHVDQG'HYLFHGHGLFDWHG6HWV«««««««« $GKHVLYH6NLQ&ORVXUHV$«««««««««««««««««
,QIXVLRQ6HWVDQG$FFHVVRULHV«««««««««««««« $GXOWDQG3HGLDWULF([DP7DEOH3DSHUDQG5HODWHG3URGXFWV $'
,QWHUPHGLDWH/HYHO'LVLQIHFWDQW:LSHV$'««««««««««
$LUZD\&OHDUDQFH3URGXFWV$««««««««««««««« ,9)OXLGV%DJEDVHG'UXJ'HOLYHU\DQG7310DFURQXWULHQWV ' $QWLLQIHFWLRQ6LWH'UHVVLQJV««««««««««««««« ,96LWH0DQDJHPHQWDQG$FFHVVRULHV$'««««««««« $UWHULDO%ORRG*DV.LWV$««««««««««««««««« /RZ)UHTXHQF\8OWUDVRQLF:RXQG7KHUDS\'««««««««
$XGLWRU\DQG9LVXDO([DP'LDJQRVWLFVDQG6\VWHPV««««« 0RELOLW\$LGV$'«««««««««««««««««««« %DE\3URGXFWV««««««««««««««««««««« 1HHGOHOHVV&RQQHFWRUV«««««««««««««««««
%DQGDJHV'UHVVLQJDQG*DX]H$'««««««««««««
1HJDWLYH3UHVVXUH:RXQG7KHUDS\$'««««««««««« %HGVLGH3URFHGXUH7UD\VDQG1HHGOHV$«««««««««« 1HRQDWDO'HYHORSPHQWDO3URGXFWV$'«««««««««««
%ODGGHU6FDQQHUV$'«««««««««««««««««« 1HRQDWDO6SHFLDOW\3URGXFWV$'«««««««««««««
%RZHO0DQDJHPHQW$«««««««««««««««««« 2EVWHWULFDO0RQLWRULQJ$«««««««««««««««««
%UHDVW3XPS(TXLSPHQWDQG$FFHVVRULHV$«««««««««
2UDO&DUH$«««««««««««««««««««««««
&DWKHWHU7XEH6HFXUHPHQWDQG6WDELOL]DWLRQ3URGXFWV$'«« &HQWUDO9HQRXV$FFHVV3URGXFWV$'««««««««««« 'HYLFHV«««««««««««««««««««««««« 2UWKRSHGLF6RIW*RRGV$'««««««««««««««««
&KORUKH[LGLQH*OXFRQDWH &+* 6NLQ3UHS3URGXFWV$«««« 3DWLHQW%HGVLGH3URGXFWV$'««««««««««««««« &ORVHG9HQWLODWLRQ6XFWLRQ$««««««««««««««« 3DWLHQW&OHDQVLQJDQG6NLQ&DUH %DJ%DVHG $'««««« &RKHVLYH%DQGDJHV$'««««««««««««««««« 3DWLHQW7HPSHUDWXUH0DQDJHPHQW3URGXFWVDQG$FFHVVRULHV ' 'LDO\VLV3URGXFWVDQG$FFHVVRULHV$«««««««««««« 3HUVRQDO&DUH.LWVDQG&RPSRQHQWV$'«««««««««« 'LJLWDO:RXQG0DQDJHPHQW6\VWHPV'«««««««««« 3KDUPDF\&RPSRXQGLQJ(TXLSPHQWDQG$GPL[WXUH6XSSOLHV«
'LVLQIHFWLRQ&DSV$«««««««««««««««««««
3,&&DQG0LGOLQHV$FFHVV3URGXFWV$'«««««««««« 'LVSRVDEOH/DERUDQG'HOLYHU\3URGXFWV$'«««««««« 3URIHVVLRQDO)RRWZHDU$'«««««««««««««««« 'LVSRVDEOH1RQ6WHULOH3URWHFWLYH$SSDUHO$'««««««« 5HJHQHUDWLYH6NLQ*UDIWLQJ3URGXFWV'«««««««««« (&*(OHFWURGHV&DEOHV/HDG:LUHVDQG'HILEULOODWRU3DGV$' 5HVSLUDWRU\7KHUDS\3URGXFWV$'««««««««««««
(OHFWURQLF7KHUPRPHWU\$«««««««««««««««« 5HVWUDLQWVDQG)DOO3UHYHQWLRQ3URGXFWV$'«««««««« (QWHURVWRPDO7KHUDS\3URGXFWV$«««««««««««««
6DIHW\+XEHU1HHGOHV$«««««««««««««««««
([DP*ORYHV$'«««««««««««««««««««« 6DIHW\+\SRGHUPLF3URGXFWV$'««««««««««««« )DOO0DQDJHPHQW)RRWZHDU$'«««««««««««««« 6DIHW\,9&DWKHWHUV$'««««««««««««««««« *HQHUDO8URORJLFDO3URGXFWV$««««««««««««««
6KDUSV'LVSRVDO&RQWDLQHUV$««««««««««««««
+DQG+\JLHQH0RQLWRULQJ6\VWHPV««««««««««««
6KRZHU6OHHYH3,&&,9&RYHUVDQG&DVW&RYHUV'««««« +HPRG\QDPLF0RQLWRULQJ3URGXFWVDQG$FFHVVRULHV««««« 6NLQ%UHDNGRZQ3UHYHQWLRQ3URGXFWV$'««««««««««
+LJK/HYHO'LVLQIHFWDQWV$«««««««««««««««« 6NLQ,QWHJULW\&RPSUHVVLRQ:UDSV««««««««««««« +LJK5LVN2%*<1±0HG6XUJ3URGXFWV««««««««««
+LJK5LVN2%*<1±6SHFLDOW\3URGXFWV««««««««««
:RXQG'HEULGHPHQW$'««««««««««««««««« 6NLQ,QWHJULW\6NLQ&OHDQVHU%DUULHUDQG/RWLRQ3URGXFWV$'« +RWDQG&ROG3DFNV$'«««««««««««««««««
6RDSV/RWLRQVDQG:DWHUOHVV+DQG5LQVHV$«««««««
,QFRQWLQHQFH3URGXFWV$«««««««««««««««««
6WDQGDUG+\SRGHUPLF3URGXFWV$'«««««««««««« 2UDO0HGLFDWLRQRQ'HPDQG 3202' 3DLQ0DQDJHPHQW
6NLQ,QWHJULW\3ULPDU\6HFRQGDU\:RXQG&DUH'UHVVLQJVDQG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
1XUVLQJ6HUYLFHV
7DEOHRI&RQWHQWV
1XUVLQJFDWHJRULHV FRQWLQXHG 6XFWLRQ&DQLVWHUV<DQNDXHUVDQG7XELQJ$'«««««««
3HGLDWULFDQG<RXWK'LVSRVDEOHV'«««««««««««« 6XWXUH5HPRYDODQG/DFHUDWLRQ7UD\V$'«««««««««
3K\VLFDO7KHUDS\3URGXFWVDQG([HUFLVH(TXLSPHQW$'««« 7DSH3URGXFWV$««««««««««««««««««««
3K\VLRORJLFDO0RQLWRULQJ6\VWHPV«««««««««««« 7UDQVSDUHQW'UHVVLQJV$««««««««««««««««« 3RVW0RUWHP(TXLSPHQWDQG6XSSOLHV$'««««««««« 9DVFXODU&RPSUHVVLRQ7KHUDS\'HYLFHV$'«««««««« 3XOPRQDU\)XQFWLRQDQG0HWDEROLF$QDO\]HUV '««««««« 9&7$QWL(PEROLVP6WRFNLQJV$'«««««««««««« 3XOVH2[LPHWU\DQG&DSQRJUDSK\'HYLFHV«««««««« 5HODWHGFDWHJRULHV
5HJLRQDO$QHVWKHVLD7UD\V$'«««««««««««««« 6HGDWLRQ0RQLWRULQJ«««««««««««««««««««
%ORRG*OXFRVH0HWHUV5HDJHQWV&RQVXPDEOHVDQG6HUYLFH $
6OHHS'LDJQRVWLF6HUYLFHV««««««««««««««««
6SHFLDOW\'LVWULEXWLRQ±5HVSLUDWRU\7KHUDS\DQG$QHVWKHVLD
&HUHEUDODQG5HJLRQDO2[LPHWU\(TXLSPHQW'«««««««« 3URGXFWV««««««««««««««««««««««««
6SHFLDOW\'LVWULEXWLRQ±6XWXUHDQG(QGRPHFKDQLFDO3URGXFWV'
&OHDQLQJ9DOLGDWLRQ6XSSRUW3URGXFWV '«««««««««« 6WUHWFKHUV««««««««««««««««««««««« &RQYXOVLYH7KHUDS\6WLPXODWRUVDQG5HODWHG3URGXFWV '««« 6XUJLFDO,UULJDWLRQ6ROXWLRQV'«««««««««««««« 'LVSRVDEOH9DJLQDO6SHFXOXPV'««««««««««««« 6XWXUH3URGXFWV«««««««««««««««««««««
([WHUQDO'HILEULOODWRUVDQG5HODWHG3URGXFWV«««««««« 9HLQ)LQGHU(TXLSPHQW$'«««««««««««««««« )HWDO0RQLWRULQJ«««««««««««««««««««««
9HQWLODWRUV'«««««««««««««««««««««« *OXFRVH0DQDJHPHQW'««««««««««««««««« +LJK/HYHO'LVLQIHFWLRQ5HSURFHVVLQJ$'««««««««««
$GGLWLRQDO3UHPLHUUHVRXUFHV
,QIDQWDQG3DWLHQW6HFXULW\6ROXWLRQV'«««««««««««
&XVWRPFRQWUDFWLQJ«««««««««««««««««««
,QIDQW&DUH&DSLWDO(TXLSPHQW«««««««««««««««
66*OREDO««««««««««««««««««««««« ,QYDVLYH&DUGLRORJ\(TXLSPHQW«««««««««««««« 'LYHUVLW\RYHUYLHZ«««««««««««««««««««« 0HGLFDODQG6XUJLFDO3URGXFWV'LVWULEXWLRQ'«««««««« 'LVDVWHU3UHSDUHGQHVVDQG5HVSRQVH&RPPXQLW\«««««« 05,$QFLOODU\(TXLSPHQWDQG&RLOV«««««««««««« 6DIHU3DLQ0DQDJHPHQW&RPPXQLW\««««««««««« 1RQLQYDVLYH&DUGLRORJ\(TXLSPHQW««««««««««««
1XUVLQJILHOGVSHFLDOLVW«««««««««««««««««« 1RQLQYDVLYH9HQWLODWRUV'««««««««««««««««
&RUHILHOGWHDP«««««««««««««««««««« 1XUVH&DOO6\VWHPV'««««««««««««««««««
6XSSO\&KDLQ$GYLVRU««««««««««««««««« 256DIHW\3URGXFWV«««««««««««««««««««
3UHPLHU&RQQHFW««««««««««««««««««« 3DWLHQW/LIWVDQG/DWHUDO7UDQVIHU'HYLFHV'««««««««
3DWLHQW6FDOHV$««««««««««««««««««««
%ORRG3UHVVXUH&XIIVDQG$FFHVVRULHV «««««««««« $
$6&(1'FRQWUDFWQXPEHUVDUHLQFOXGHGZKHUHDSSOLFDEOH)RUPDWHULDOVWKDWVXSSRUW$6&(1'DJUHHPHQWVSOHDVHYLVLWWKH$6&(1'SRUWDO
'
'LYHUVHVXSSOLHUVZLWKFRQWUDFWVDZDUGHGWKURXJKWKHQDWLRQDOFRPPLWWHH 33 DQGVXSSOLHUVZLWKFRQWUDFWVDZDUGHGWKURXJKWKH3UHPLHU6XSSOLHU
'LYHUVLW\&RPPLWWHHPLGFRQWUDFWF\FOH 6' DUHQRWHGEHORZWKHDZDUGHGVXSSOLHUVWDEOHRQHDFKH[HFXWLYHVXPPDU\
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
$FWLYH+XPLGLILFDWLRQ'HYLFHVDQG$FFHVVRULHV(IIHFWLYH1RYHPEHU
([SLUHV2FWREHU
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVKXPLGLILFDWLRQGHYLFHV KHDWHUV KHDWHGZLUH
FLUFXLWVFKDPEHUVEOHQGHUVZDWHUDQGKLJKIORZGLVSRVDEOHVWKDWDUH
SURSULHWDU\WRWKHVHGHYLFHV
6XSSOLHU
7KLVFDWHJRU\LVDVSOLWIURPWKH5HVSLUDWRU\7KHUDS\3URGXFWV
FDWHJRU\
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
x ) 3DOORZVFRQWLQXXPRIFDUHDQG3UHPLHU5($&+PHPEHUV
RQDFDVHE\FDVHEDVLV
7HUU\
%U\DQW
WHUU\EU\DQW#Y\DLUHFRP
)LVKHU 3D\NHO
7RP%XWW
WRPEXWW#ISKFDUHFRP
0DWWKHZ
PDWWWRXFK#WHOHIOH[FRP
7RXFK
$QWKRQ\
9DSRWKHUP
DWHQKDDJHQ#YWKHUPFRP
7HQ+DDJHQ
6WHYH
:HVWPHG
VVDUJHDQW#ZHVWPHGLQFFRP
6DUJHDQW
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWRGDWH
FRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
7HOHIOH[
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
([SLULQJ
3316
3316
3316
3316
3316
3316
3316
1HZ
3316
1HZ
7KHUHLVQR$6&(1'DZDUGLQWKLVFDWHJRU\
&DUH)XVLRQ
x
1HZ
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHURUKLJKHUZLWK
&DUH)XVLRQ) 3DQG7HOHIOH[
9DSRWKHUPDQG:HVWPHGGRQRWUHTXLUHD30')3$GXHWR
VLQJOHWLHURIIHULQJ
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 9DOXHDGGVLQFOXGLQJUHEDWHV
HTXLSPHQWDFTXLVLWLRQRSWLRQVDQG
DGGLWLRQDOVDYLQJV
x :DWHUXVDJH
x &LUFXLWOLIH
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 9HQWLODWRUDVVRFLDWHGSQHXPRQLD
9$3 x 3DWLHQWFRPIRUW
x 6NLQEUHDNGRZQLVVXHV
5RDGEORFNVWRFRQYHUVLRQ
x 3URSULHWDU\YHQWLODWRUGLVSRVDEOHV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQGHVWDEOLVKHGQHWZRUNVZLWK&DUH)XVLRQ) 3DQG
7HOHIOH[
x &DUH)XVLRQDQG) 3UHTXLUH*32IDFLOLWLHVWRLQGHSHQGHQWO\FRPPLWWRPDUNHWVKDUHUHTXLUHGE\WKHWLHU
x 7HOHIOH[LVDYDLODEOHWR2/0IDFLOLWLHVRQO\DQGHVWDEOLVKHGQHWZRUNVDWLWVGLVFUHWLRQ*32IDFLOLWLHVPXVW
LQGHSHQGHQWO\FRPPLWWRSHUFHQWPDUNHWVKDUH
9DSRWKHUPDQG:HVWPHGRIIHUDVLQJOHWLHUZKHUHDJJUHJDWLRQLVQRWDSSOLFDEOH
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPZLWKDOOVXSSOLHUV
&DUH)XVLRQRIIHUVDQSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJ5HVSLUDWRU\7KHUDS\DJUHHPHQW
) 3RIIHUVDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJ5HVSLUDWRU\7KHUDS\DJUHHPHQW
7HOHIOH[RIIHUVDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJ5HVSLUDWRU\7KHUDS\DJUHHPHQW
7HOHIOH[LVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ&DUH)XVLRQ) 37HOHIOH[DQG:HVWPHG HTXLSPHQWDQGFRQVXPDEOHV $YDLODEOHGLUHFW&DUH)XVLRQ) 37HOHIOH[9DSRWKHUPDQG:HVWPHG HTXLSPHQW 1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
$FWLYH+XPLGLILFDWLRQ'HYLFHVDQG$FFHVVRULHV(IIHFWLYH1RYHPEHU
([SLUHV2FWREHU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EH
EURNHQ7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
x 3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
x 3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
x
x
x
x
x
x
x
&ORVHG9HQWLODWLRQ6XFWLRQ3URGXFWVXVHGLQQHRQDWHSHGLDWULFDQGDGXOWSDWLHQWVWKDWSURYLGHDVXFWLRQ
FDSDELOLW\ZLWKDFRPSOHWHO\FORVHGDLUZD\FLUFXLW
'LVSRVDEOH$QHVWKHVLD3URGXFWV$QHVWKHVLDIDFHPDVNVILOWHUVEUHDWKLQJFLUFXLWVEDJVJDVVDPSOLQJOLQHV
DQGRUDODLUZD\VWRDGPLQLVWHUJHQHUDODQHVWKHVLDWRVXUJLFDOSDWLHQWV
2UDO&DUH6SRQJHVZDEVRUDOFDUHVROXWLRQVRUDOVXFWLRQWLSVDQGVXFWLRQWRRWKEUXVKHV
1RQLQYDVLYH9HQWLODWRUV&RQWLQXRXVSRVLWLYHDLUZD\SUHVVXUH &3$3 XQLWVELOHYHO EL3$3 XQLWVDQGWKH
DVVRFLDWHGFRQVXPDEOHV VXFKDVPDVNVFDQQXODVDQGWXELQJ 5HVSLUDWRU\7KHUDS\3URGXFWV3HDNIORZPHWHUVLQFHQWLYHVSLURPHWHUV0',KROGLQJFKDPEHUV VSDFHUV QHEXOL]HUVDQGGLVSRVDEOHVXSSOLHVVXFWLRQFDWKHWHUVPXFRXVWUDSVQRQYHQWHGPDVNV&3$3DQG%L/HYHO
PDVNVR[\JHQGHOLYHU\GLVSRVDEOHVGLVSRVDEOHYHQWLODWRUVXSSOLHVKXPLGLILFDWLRQSURGXFWVDQGUHVXVFLWDWLRQ
EDJV
6XFWLRQ&DQLVWHUV<DQNDXHUVDQG7XELQJ6XFWLRQFDQLVWHUV<DQNDXHUVWXELQJ VWHULOHDQGQRQVWHULOH DQG
VROLGLILHUVXVHGIRUWKHSXUSRVHRIFROOHFWLQJPHGLFDOZDVWH
6SHFLDOW\'LVWULEXWLRQ±5HVSLUDWRU\7KHUDS\DQG$QHVWKHVLD3URGXFWV2IIHUVPHPEHUVWKHRSWLRQWR
SXUFKDVHUHVSLUDWRU\WKHUDS\DQGDQHVWKHVLDSURGXFWVIURPPXOWLSOHVXSSOLHUVWKURXJKDVSHFLDOW\GLVWULEXWRU
6XUJLFDO,QVWUXPHQWV,QVWUXPHQWVXVHGE\VXUJHRQVDQGQXUVHVWRIDFLOLWDWHDVXUJLFDOSURFHGXUH
9HQWLODWRUV,QWHQVLYHFDUHKLJKIUHTXHQF\RVFLOODWRU\WUDQVSRUWSRUWDEOHDQGPDVVFDVXDOW\YHQWLODWRUV
DVVRFLDWHGDFFHVVRULHVDQGSURSULHWDU\FLUFXLWV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
$GKHVLYH6NLQ&ORVXUHV(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHU
7KLVFDWHJRU\LQFOXGHVDGKHVLYHSURGXFWVXVHGWRH[WHUQDOO\KROGVNLQ
WRJHWKHURYHULQFLVLRQVRUZRXQGV
6XSSOLHU
&ODVVRIWUDGH
0LVDYDLODEOHWRDFXWHFDUHDQGQRQDFXWHKHDOWKFDUHIDFLOLWLHV6HH
YDOXHDQDO\VLVWRRONLWIRUVSHFLILFFODVVRIWUDGHDYDLODELOLW\
0
5RGJHU5DWOLII
UGUDWOLII#PPPFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI1RYHPEHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
1HZ
([SLULQJ
3316
$616
3316
$616
)LQDQFLDOFRQVLGHUDWLRQV
x 6DYLQJVFRPSDUHGWRVNLQ
DGKHVLYHVVWDSOHVRUVXWXUHV
$JJUHJDWLRQRSSRUWXQLWLHV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3DWLHQWFRPIRUW
x &RVPHWLFUHVXOWV
x /DWH[DOOHUJLHV
x ,QIHFWLRQFRQWURODQGDQWLPLFURELDO
VNLQFORVXUHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQG
HVWDEOLVKHGQHWZRUNV0UHTXLUHVPHPEHU¶VRZQHGRUFRQWUROOHG
IDFLOLWLHVWRLQGHSHQGHQWO\FRPPLWWRWKHSDUWLFLSDWLRQUHTXLUHGE\WKHWLHU
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
+RZWRRSHUDWLRQDOL]HWKLVDJUHHPHQW
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHU
2WKHUNH\YDOXHDQGWHUPV
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQW
0RIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0SURGXFWVDUHDYDLODEOHWKURXJKGLVWULEXWLRQ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
x
x
x
%DQGDJHV'UHVVLQJVDQG*DX]H3URGXFWVXVHGLQWKHWUHDWPHQWRISDWLHQWVZLWKLQMXULHVVXUJLFDOLQFLVLRQV
XOFHUVRUZRXQGVWKDWQHHGVLPSOHGUHVVLQJVRUFRYHULQJVWKDWSHUPLWWKHFRQWDLQPHQWRIGUDLQDJH
&RKHVLYH%DQGDJHV6HOIDGKHUHQWHODVWLFZUDSWKDWIXQFWLRQVOLNHWDSHEXWVWLFNVWRLWVHOIDQGQRWWRWKHVNLQ
7DSH3URGXFWV6WULSVRIVWURQJZRYHQIDEULFRURWKHUPDWHULDOVXVHGWRELQGRUKROGEDQGDJHVLQSODFH
7RSLFDO6NLQ$GKHVLYH/LTXLGDGKHVLYHXVHGLQSODFHRIVXWXUHVRUVWDSOHVWRFORVHDQGVHDOZRXQGVFDXVHGE\
VPDOOODFHUDWLRQVVXUJLFDOLQFLVLRQVPLQLPDOO\LQYDVLYHDQGFRVPHWLFVXUJHU\
7UDQVSDUHQW'UHVVLQJV'UHVVLQJVWKDWDUHXVHGSUHGRPLQDQWO\WRFRYHUFDWKHWHUVLWHVDQGVHFXUHGHYLFHVWR
WKHVNLQZKLOHDOORZLQJYLVLELOLW\RIWKHVLWH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
$GXOWDQG3HGLDWULF([DP7DEOH3DSHUDQG5HODWHG3URGXFWV(IIHFWLYH-XO\
([SLUHV-XQH
3URGXFWVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVH[DPWDEOHSDSHUGUDSHVKHHWVH[DPJRZQV
H[DPVKRUWVH[DPELEVKHDGUHVWUROOVH[DPFDSHVSHGLDWULFVFDOH
EDUULHUVKHDGSURWHFWLRQSLOORZFDVHVEORRGSUHVVXUHFXIIEDUULHUV
HTXLSPHQWGUDSHVDQGWRZHOV
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHV
-HQQLIHU
MVFKPLGW#JUDKDPPHGLFDOFRP
6FKPLGW
(ULF
7,',
HOHLFKW\#WLGLSURGXFWVFRP
/HLFKW\
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316
1HZ
3316
$616
33$&
*UDKDPLVDVPDOOEXVLQHVVHQWHUSULVH 6%( *UDKDP
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RU
HOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUZLWK7,',
*UDKDPGRHVQRWUHTXLUHD30')3$GXHWRVLQJOHWLHURIIHULQJ
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWKERWKVXSSOLHUV 2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
)LQDQFLDOFRQVLGHUDWLRQV
x 3UHPLXPYHUVXVHFRQRP\OLQHV
x 9DOXHDGGVHJUHEDWHV
x 0LQLPXPRUGHUUHTXLUHPHQWVDQG
IHHV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3DWLHQWFRPIRUW
x 5HVLVWDQFHWRPLFUREHV
x (QYLURQPHQWDOO\IULHQGO\RSWLRQV
DYDLODEOH
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
3ULFLQJLVILUPIRUWKHWHUPRIERWKDJUHHPHQWV
7,',¶VQHZDJUHHPHQWRIIHUVDSHUFHQWLQFUHDVHFRPSDUHGWRWKHH[SLULQJDJUHHPHQWSULFLQJ
7,',RIIHUVYROXPHUHEDWHVEDVHGRQDJJUHJDWH3UHPLHUSXUFKDVHV6HHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
*UDKDPLVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ*UDKDPDQG7,',
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
x
%ORRG3UHVVXUH&XIIV7UDGLWLRQDODQDORJGLJLWDODQGEORRGSUHVVXUH %3 VWHWKRVFRSHFRPELQDWLRQNLWVDVZHOO
DVGLVSRVDEOHDQGUHXVDEOHFXIIV
([DP5RRP)XUQLWXUH([DPDQGSURFHGXUHWDEOHVVWRROVFKDLUVWDEOHWRSVWHULOL]HUVFDUWVDQGPRELOHGHVNV
5HXVDEOH7H[WLOHVDQG7H[WLOH6HUYLFHV$SSDUHOEHGVSUHDGVSLOORZVSLOORZFDVHVOLQHQVVKHHWVEODQNHWV
UREHVEDWKUXJVVKRZHUFXUWDLQVDQGWHUU\SURGXFWV WRZHOVFXUWDLQVHWF 35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
$LUZD\&OHDUDQFH3URGXFWV
(IIHFWLYH0D\WKURXJK$SULO
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
7KLVFDWHJRU\LQFOXGHVDLUZD\FOHDUDQFHGHYLFHVXVHGWRFOHDUWKHDLUZD\V
RIPXFXVIRUWKHSXUSRVHRILPSURYLQJEUHDWKLQJDQGSUHYHQWLRQRI
UHVSLUDWRU\GLVHDVHV3URGXFWVLQFOXGHLQWUDSXOPRQDU\SHUFXVVLYHYHQWLODWRU
GHYLFHV ,39V PHFKDQLFDOLQVXIIODWRUH[VXIIODWRU 0,( GHYLFHVDQGKLJK
IUHTXHQF\FKHVWFRPSUHVVLRQ +)&& WKHUDS\YLEUDWLRQVIRUFKHVWZDOO
RVFLOODWLRQ
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK(OHFWURPHG
+LOO5RPUHTXLUHVD30')3$DWDOOWLHUVIRUQHZPHPEHUV&XUUHQW
PHPEHUWLHUDVVLJQPHQWVZLOOEHUHDVVLJQHGWRWKHQHZDJUHHPHQW
DQGD30')ZLOOQRWEHUHTXLUHG
(OHFWURPHG 3316 3316
3316
3316
$616
7KHFXUUHQWDJUHHPHQWZLWK:HVWPHG 3316
H[SLUHV$SULO
$6&(1'7KLVFDWHJRU\KDVEHHQGHVLJQDWHG
DVULGJH9LVLWWKH$6&(1'SRUWDOIRU$6&(1'
ODXQFKPDWHULDOV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
(OHFWURPHGDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRI
IDFLOLWLHV
+LOO5RPDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVZLWKWKHDELOLW\WRLQIOXHQFHSXUFKDVLQJ
GHFLVLRQV0HPEHUVZLVKLQJWRDJJUHJDWHPXVWVXEPLWD30')3$ZLWKPHPEHUOLVW
&ODVVRIWUDGH
x
x
(OHFWURPHGLVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
+LOO5RPLVDYDLODEOHWRDFXWHFDUHDQGORQJWHUPFDUHIDFLOLWLHVORFDWHGLQWKHFRQWLJXRXV8QLWHG6WDWHV$ODVNDDQG
+DZDLL
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKERWKVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOV
x (OHFWURPHG¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x +LOO5RP¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x (OHFWURPHGLVWKHORZFRVWVXSSOLHUDWDFFHVVWLHU+LOO5RPLVWKHORZFRVWVXSSOLHUDWWRSWLHU
(OHFWURPHGRIIHUYDOXHDGGVVXFKDVDFRQYHUVLRQUHEDWHUHQWWRRZQRSWLRQVDQGDZUDSXVDJHDJUHHPHQW6HHYDOXH
DGGVVHFWLRQIRUGHWDLOV
$YDLODEOHGLUHFW(OHFWURPHGDQG+LOO5RP
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
(OHFWURPHG,QF'RXJ)HWWHUGIHWWHUV#HOHFWURPHGFRP
+LOO5RP&RPSDQ\,QF5LFN+ROPHVULFNKROPHV#KLOOURPFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI)HEUXDU\)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\
&KDLQ$GYLVRU
5HODWHGFDWHJRULHV
x
x
x
5HVSLUDWRU\7KHUDS\3HDNIORZPHWHUVLQFHQWLYHVSLURPHWHUV0',KROGLQJFKDPEHUV VSDFHUV QHEXOL]HUVDQG
GLVSRVDEOHVXSSOLHVVXFWLRQFDWKHWHUVPXFRXVWUDSVQRQYHQWHGPDVNV&3$3DQGELOHYHOPDVNVR[\JHQGHOLYHU\
GLVSRVDEOHVGLVSRVDEOHYHQWLODWRUVXSSOLHVKXPLGLILFDWLRQSURGXFWVDQGUHVXVFLWDWLRQEDJV
1RQLQYDVLYH9HQWLODWRUV&3$3XQLWVELOHYHOXQLWVDQGWKHDVVRFLDWHGFRQVXPDEOHV
9HQWLODWRUV,QWHQVLYHFDUHKLJKIUHTXHQF\RVFLOODWRU\WUDQVSRUWSRUWDEOHDQGPDVVFDVXDOW\YHQWLODWRUVDFFHVVRULHV
DQGSURSULHWDU\FLUFXLWV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
$LUZD\&OHDUDQFH3URGXFWV
(IIHFWLYH0D\WKURXJK$SULO
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
x 3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
x 3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG 35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
$QWLLQIHFWLRQ6LWH'UHVVLQJV (IIHFWLYH$XJXVW
([SLUHV-XO\
3URGXFWVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVGUHVVLQJSURGXFWVWKDWKDYHEHHQ
LPSUHJQDWHGZLWKDQWLPLFURELDODJHQWVVXFKDVFKORUKH[LGLQH
JOXFRQDWH &+* RUVLOYHUWKDWDUHVSHFLILFDOO\GHVLJQHGWRUHGXFH
LQIHFWLRQDWYHQRXVDUWHULDOSHUFXWDQHRXVYDVFXODUDFFHVVVLWHV
&ODVVRIWUDGH
7KHDJUHHPHQWLVDYDLODEOHIRUDFXWHFDUHFLW\FRXQW\VWDWHKRVSLWDOV
SV\FKLDWULFKRVSLWDOVWHDFKLQJKRVSLWDOVVXUJHU\FHQWHUVFOLQLFV
QXUVLQJKRPHVKRPHKHDOWKFDUHGLDO\VLVFHQWHUVVLQJOHVHUYLFH
IDFLOLWLHV RXWSDWLHQWZLWKRXWDUHWDLOSKDUPDF\ RUKHDOWKFDUHFHQWHUV
- -
7LP+LQXHEHU
$ZDUGHGVXSSOLHU
6XSSOLHU
1HZ
([SLULQJ
3316
3316
7KHFXUUHQWDJUHHPHQWZLWK'H5R\DO
3316 H[SLUHV-XO\
WKLQXHEH#LWVMQMFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0D\)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKLVDJUHHPHQW
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') LVUHTXLUHGIRUDOOWLHUVWRDFFHVVWKHDJUHHPHQW- -ZLOOQRWSUHVORW
PHPEHUVDVWKH\KDYHLQWKHSDVW
x $FXWHFDUHIDFLOLWLHVPXVWVLJQ([KLELW$
x $OWHUQDWHFDUHIDFLOLWLHVPXVWVLJQ([KLELW$D
x $OWHUQDWHFDUH7LHULVLQLWLDWHGE\WKHVHOOHU¶VDXWKRUL]HGGLVWULEXWRUV
x 6HH([KLELW$IRUFODVVRIWUDGHGHILQLWLRQVDQGHOLJLELOLW\
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUV\VWHPVZLWKIDFLOLWLHVWKDWDUHRZQHGOHDVHGRUPDQDJHGE\DFRPPRQKHDGTXDUWHUVZLWK
OHJDODQGILQDQFLDODXWKRULW\
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQW
- -¶VQHZDJUHHPHQWRIIHUVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
$YDLODEOHWKURXJKGLVWULEXWLRQ- -
$YDLODEOHGLUHFW- -
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFW FURVVUHIHUHQFH $Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRU\
x
7UDQVSDUHQW'UHVVLQJV'UHVVLQJVFRQVLVWLQJRIDZLGHUDQJHRIPDWHULDOVVRPHWLPHVFRQWDLQLQJPHGLFDWLRQ
SODFHGGLUHFWO\DJDLQVWWKHZRXQGDQGWUDQVSDUHQWDOORZLQJIRUYLVXDOLQVSHFWLRQRIWKHVLWHEHLQJPRQLWRUHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
$UWHULDO%ORRG*DV.LWV
(IIHFWLYH'HFHPEHU
([SLUHV1RYHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVSURGXFWVSDFNDJHGLQNLWVXVHGE\KHDOWKFDUH
ZRUNHUVWRREWDLQDUWHULDOEORRGVDPSOHVWRGHWHUPLQHWKH
FRQFHQWUDWLRQRIR[\JHQFDUERQGLR[LGHDQGELFDUERQDWHDVZHOODV
S+LQWKHEORRG
&ODVVRIWUDGH
7KHDJUHHPHQWLVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHV
6PLWKV
-XOLHW
MXOLHWODUVRQ#VPLWKV
0HGLFDO
/DUVRQ
PHGLFDOFRP
$ZDUGHGVXSSOLHU
6XSSOLHU
1HZ
([SLULQJ
3316 3316
$616 $616
$6&(1'7KLVFDWHJRU\KDVEHHQ
GHVLJQDWHGDV%DVH9LVLWWKH$6&(1'SRUWDO
IRU$6&(1'ODXQFKPDWHULDOV
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI6HSWHPEHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHU
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPHPEHUVZKLFKRZQDQGFHQWUDOO\PDQDJHPXOWLIDFLOLW\V\VWHPVDQGKDYHWKHDELOLW\WRGULYH
SXUFKDVLQJGHFLVLRQV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQW
)LQDQFLDODQDO\VLVUHYHDOV6PLWKV0HGLFDOKDVDSHUFHQWLQFUHDVHFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
SULFLQJ
0HPEHUVZLOOEHFKDUJHGDFWXDOIUHLJKWFRVWVDQGDKDQGOLQJIHHIRURUGHUVOHVVWKDQ
6PLWKV0HGLFDOLVDYDLODEOHGLUHFWDQGWKURXJKDXWKRUL]HGGLVWULEXWRUV
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
x
%ORRG*DV$QDO\]HUV5HDJHQWV&RQVXPDEOHVDQG6HUYLFH$QDO\]HUVWKDWPHDVXUHWKHS+RIEORRGDQGWKH
DPRXQWRIR[\JHQDQGFDUERQGLR[LGHLQWKHEORRG
&HQWUDO9HQRXV$FFHVV3URGXFWV&HQWUDOYHQRXVDFFHVVFDWKHWHUVVKHDWKVGLODWRUVDQGNLWV
+HPRG\QDPLF0RQLWRULQJ3URGXFWVDQG$FFHVVRULHV$UWHULDOFDWKHWHUVDQGOLQHV
3RLQWRI&DUH 32& %ORRG*DVDQG$GGLWLRQDO7HVWV+DQGKHOGDQDO\]HUGHYLFHXVHGIRUEORRGJDVWHVWLQJ
DQGDGGLWLRQDOWHVWVDWWKHSDWLHQW¶VEHGVLGH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
$XGLWRU\DQG9LVXDO([DP'LDJQRVWLFVDQG
6\VWHPV
(IIHFWLYH0D\WKURXJK$SULO
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVLVDnew3UHPLHUFDWHJRU\7KLVFDWHJRU\LQFOXGHVFDSLWDODQGVPDOO
HTXLSPHQWGLVSRVDEOHVZDUUDQWLHVWUDLQLQJDQGRWKHUUHODWHGLWHPVXVHGWR
SHUIRUPDFRPSUHKHQVLYHDXGLWRU\DQGYLVXDOH[DPLQDFXWHDQGQRQDFXWH
VHWWLQJVIRUVFUHHQLQJRIDOODJHVIURPQHZERUQWRJHULDWULF3URGXFWVLQFOXGH
RSKWKDOPLFVHWVRWRVFRSHVHWVSRUWDEOHGLDJQRVWLFVHWVDQGGLDJQRVWLFZDOO
VHWVV\VWHPV
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK:HOFK$OO\Q
$30')3$LVQRWUHTXLUHGZLWK6RQLFGXHWRVLQJOHWLHURIIHULQJ
$ZDUGHG6XSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
3316
1HZ
3316
1HZ
$6&(1'7KHUHLVQR$6&(1'DZDUGLQWKLV
FDWHJRU\
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
ZLWK6RQLF
:HOFK$OO\QDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVXQGHUFRPPRQRZQHUVKLSRUFRQWUROZLWKWKHDELOLW\WR
FRRUGLQDWHSXUFKDVLQJIRUWKHLURZQHGRUFRQWUROOHGIDFLOLWLHV2QO\DFXWHFDUHPHPEHUV KRVSLWDOV PD\DJJUHJDWHWKH
YROXPHRIWKHLURZQHGRUFRQWUROOHGIDFLOLWLHV
&ODVVRIWUDGH
x
x
6RQLFLVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
:HOFK$OO\QLVDYDLODEOHWRDFXWHFDUHDQGVSHFLILHGQRQDFXWHKHDOWKFDUH6HH$SSHQGL[$RU([KLELW%IRUVSHFLILF
FODVVRIWUDGHDYDLODELOLW\
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKERWKVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOV
x 6RQLF¶VQHZDJUHHPHQWRIIHUVSHUFHQWVDYLQJVFRPSDUHGWROLVWSULFH
x :HOFK$OO\Q¶VQHZDJUHHPHQWRIIHUVDWOHDVWSHUFHQWVDYLQJVFRPSDUHGWROLVWSULFH
$YDLODEOHWKURXJKGLVWULEXWLRQ:HOFK$OO\Q
$YDLODEOHGLUHFW6RQLF
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
6RQLFDQG0HG5[DIILOLDWHVRIWKH:LOOLDP'HPDQW+ROGLQJ*URXS&DWK\9DQ(YUDFDHY#RWLFRQFRP
:HOFK$OO\Q,QF5LFN+ROPHVULFNKROPHV#KLOOURPFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0D\)RUXSWRGDWHLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
5HODWHGFDWHJRULHV
x
x
x
(OHFWURQLF7KHUPRPHWU\3DWLHQWWKHUPRPHWHUVIRUFOLQLFDOXVHWKDWPHDVXUHWHPSHUDWXUHVDVZHOODVXQLWVWKDWSURYLGH
VSHFLDOL]HGSUREHVIRUFRQWLQXRXVPRQLWRULQJ
2SKWKDOPRORJ\3URGXFWV3URGXFWVXVHGIRUVXUJHULHVRIWKHH\HVXFKDVLQWUDRFXODULPSODQWVSKDFRHPXOVLILFDWLRQXQLWV
JODXFRPDLPSODQWVGLVSRVDEOHVUHXVDEOHRSKWKDOPLFVXUJLFDOLQVWUXPHQWVVXWXUHVDQGYLVFRHODVWLFV
3K\VLRORJLFDO0RQLWRULQJ6\VWHPV6\VWHPVWKDWFRQWLQXRXVO\PRQLWRUDSDWLHQW¶VSK\VLRORJLFSDUDPHWHUVVXFKDV
UHVSLUDWRU\UDWHERG\WHPSHUDWXUHQRQLQYDVLYHEORRGSUHVVXUHDQGLQYDVLYHEORRGSUHVVXUH
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLV
GRFXPHQWLVXQDEOHWREHHGLWHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
%DE\3URGXFWV (IIHFWLYH-XO\
([SLUHV-XQH
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVKDLUDQGVNLQFDUHLWHPVVXFKDVEDE\ORWLRQV
RLQWPHQWVEDE\ZDVKHVEDE\VKDPSRREDE\SRZGHUFRUQVWDUFK
DQGVXSSOLHVGHVLJQHGIRUXVHLQWKHSHGLDWULFSDWLHQWSRSXODWLRQV
QHRQDWHWR\RXQJFKLOG $ZDUGHGVXSSOLHU
6XSSOLHU
1HZ
&ODVVRIWUDGH
&DUGLQDOLVDYDLODEOHWRVHOHFWDFXWHFDUHDQGQRQDFXWHKHDOWKFDUH
IDFLOLWLHV6HHYDOXHDQDO\VLVWRRONLWIRUVSHFLILFFODVVRIWUDGH
DYDLODELOLW\
&DUGLQDO
-HII
(DVWHUOLQJ
MHIIHDVWHUOLQJ#FDUGLQDO
KHDOWKFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') SULFHDFWLYDWLRQ
3$ LVUHTXLUHGDW7LHU
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
3316
([SLULQJ
1HZ
&XUUHQWDJUHHPHQWVZLWK-RKQVRQ -RKQVRQ
33:& 'XGOH\ 33:& DQG.HUPD
0HGLFDO 33:& H[SLUH-XQH
)LQDQFLDOFRQVLGHUDWLRQV
x 3DFNDJHVL]HV
x 5HVWRFNLQJIHHV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x )UDJUDQFHDOOHUJLHV
x 6NLQVHQVLWLYLW\DQGSURWHFWLRQ
x 7R[LFLW\WHVWLQJ
x ,QJUHGLHQWFRPSRVLWLRQ
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x 0RWKHU¶VSUHIHUHQFH
x &ODVVRIWUDGHUHVWULFWLRQV
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQW
0RYLQJIURP&DUGLQDO¶VQHZ7LHUWR7LHURIIHUVSHUFHQWVDYLQJV
$YDLODEOHWKURXJKGLVWULEXWLRQ&DUGLQDO
1RWH)LQDQFLDODQDO\VLVDQGSULFLQJLQIRUPDWLRQDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
&URVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDOHTXLYDOHQWV
:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHUSURGXFW
LQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
x
x
%UHDVW3XPS(TXLSPHQWDQG$FFHVVRULHV%UHDVWSXPSHTXLSPHQWJDUPHQWVRLQWPHQWVDQGDFFHVVRULHV
XVHGGXULQJODFWDWLQJSURFHVV
,QIDQW'LDSHUVDQG5HODWHG3URGXFWV'LVSRVDEOHGLDSHUVGHVLJQHGLQYDULRXVVL]HVUDQJLQJIURP
SUHHPLHQHRQDWHWR\RXWK
1HRQDWDO6SHFLDOW\3URGXFWV(QWHUDOSURGXFWVXPELOLFDOFDWKHWHUVDQG3,&&6SKRWRWKHUDS\H\HVKLHOGVDQG
RWKHUVSHFLDOW\SURGXFWV
1HRQDWDO'HYHORSPHQWDO3URGXFWV3DFLILHUVVXFURVHSRVLWLRQHUVQHVWLQJSURSVEDWKLQJV\VWHPVVZDGGOH
FORWKVSDGVDQGLQFXEDWRUFRYHUV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
%DQGDJHV'UHVVLQJVDQG*DX]H
(IIHFWLYH2FWREHU
([SLUHV2FWREHU
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVDGKHVLYHEDQGDJHVDEGRPLQDO $%' SDGV
FRWWRQEDOOVSUHSVSRQJHVHODVWLFEDQGDJHVJDX]HSDGVUROOV
VSRQJHVDQGFRYHUVQRQDGKHUHQWGUHVVLQJVDQGDOFRKROSUHSSDGV
6XSSOLHU
1HZ
3316
$616
([SLULQJ
3316
$616
3316
3316
3316
3316
&ODVVRIWUDGH
x
x
0HGL7HFKDQG7HWUDDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRI
FDUHDQG3UHPLHU5($&+PHPEHUV
&RYLGLHQLVDYDLODEOHWRVSHFLILFDFXWHFDUHQRQDFXWH
KHDOWKFDUHVFKRROVFROOHJHVDQGXQLYHUVLWLHV6HHYDOXH
DQDO\VLVWRRONLWIRUPRUHGHWDLOV
&RYLGLHQ
*UHJ*RRGDOO
0HGL7HFK
-HQQLIHU3RUWHU JUHJMJRRGDOO#PHGWURQLF
FRP
MHQQLIHUSRUWHU##PHGL
WHFKLQWOFRP
%DUEDUD
EDUE#WHWUDPHGFRP
+RIIPDQ
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-XO\)RUXSWRGDWH
FRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
7HWUD
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHUDQGKLJKHUZLWKDOO
VXSSOLHUV
&RYLGLHQUHTXLUHVD3ULPDU\*URXS'HVLJQDWLRQ)RUPLIQRW
SUHYLRXVO\GHFODUHG
$JJUHJDWLRQRSSRUWXQLWLHV
0HGL7HFKDQG7HWUDDUHZRPHQRZQHG
EXVLQHVVHV :%( )LQDQFLDOFRQVLGHUDWLRQV
x 3UHPLXPYHUVXVHFRQRP\SURGXFW
x 9DOXHDGGV
x 0LQLPXPRUGHUUHTXLUHPHQWV
x (DUO\SD\PHQWGLVFRXQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 8639,,VWDQGDUGV
x $QWLPLFURELDOGUHVVLQJV
x 6DIHW\IHDWXUHVDYDLODEOH HJ
FRORUDOHUWORZOLQWLQJ x /DWH[DOOHUJLHV
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x &ODVVRIWUDGHUHVWULFWLRQV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQGHVWDEOLVKHG
QHWZRUNVZLWKDOOVXSSOLHUV
x &RYLGLHQUHTXLUHVWKDWPHPEHUVDUHDEOHWRLQIOXHQFHSXUFKDVLQJGHFLVLRQV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPZLWKDOOVXSSOLHUV
0HGL7HFKDQG7HWUDRIIHUHDUO\SD\PHQWGLVFRXQWV
&RYLGLHQRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RYLGLHQRIIHUVDTXLFNVWDUWLQFHQWLYH7KHUHLVDSHUFHQWUHEDWHIRUFRQYHUWLQJPHPEHUV
&RYLGLHQKDVDSHUFHQWGLUHFWRUGHUIHH
0HGL7HFKRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
7HWUDRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
7HWUDLVWKHORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ&RYLGLHQ0HGL7HFKDQG7HWUD
$YDLODEOHGLUHFW&RYLGLHQDQG7HWUD
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
%DQGDJHV'UHVVLQJVDQG*DX]H
(IIHFWLYH2FWREHU
([SLUHV2FWREHU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
x
x
x
&RKHVLYH%DQGDJHV6HOIDGKHUHQWHODVWLFZUDSWKDWIXQFWLRQVOLNHWDSHZKLFKVWLFNVWRLWVHOIDQGQRWWRWKH
SDWLHQW¶VVNLQ
/DS6SRQJHV257RZHOVDQG6SHFLDOW\6SRQJHV/LQWIUHHVSRQJHVJDX]HSDFNLQJDQG;UD\GHWHFWDEOH
JDX]H
6NLQ,QWHJULW\3UHYHQWLRQ+HDOLQJDQG6XSSRUW$GYDQFHGZRXQGFDUHDQGSDWLHQWFOHDQVLQJWKDWLQFOXGHV
SDWLHQWFOHDQVLQJDQGVNLQFDUHLWHPV
7DSH3URGXFWV6WULSVRIVWURQJZRYHQIDEULFRURWKHUPDWHULDOVXVHGWRELQGRUKROGEDQGDJHVLQSODFH
7UDQVSDUHQW'UHVVLQJV'UHVVLQJVXVHGWRFRYHUFDWKHWHUVLWHVDQGVHFXUHGHYLFHVWRWKHVNLQZKLOHDOORZLQJ
YLVLELOLW\RIWKHVLWH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
%HGVLGH3URFHGXUH7UD\VDQG1HHGOHV(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
3URGXFWVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVOXPEDUSXQFWXUHWUD\VWKRUDFHQWHVLV
SDUDFHQWHVLVSQHXPRWKRUD[VRIWWLVVXHELRSV\P\HORJUDPDQG
DUWKURJUDPWUD\V3URFHGXUHQHHGOHVDUHDOVRLQFOXGHG
7KLVFDWHJRU\SUHYLRXVO\LQFOXGHGVXWXUHUHPRYDONLWVODFHUDWLRQ
WUD\VVWDSOHUHPRYDONLWVDQGPLQRUSURFHGXUHNLWVZKLFKKDYHEHHQ
VSOLWRXWLQWRWKHLURZQFDWHJRU\±6XWXUH5HPRYDODQG/DFHUDWLRQ
7UD\V
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
]DFKDU\PRRUH#FDUHIXVLRQ
FRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI1RYHPEHU)RU
XSWRGDWHFRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
&DUH)XVLRQ
=DFN0RRUH +RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHU
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
$ZDUGHGVXSSOLHU
6XSSOLHU
]
1HZ
([SLULQJ
3316
$616
3316
$616
7KHFXUUHQWDJUHHPHQWZLWK0HGOLQH 3316 KDVEHHQUHQHZHGLQWKHQHZFDWHJRU\6XWXUH
5HPRYDODQG/DFHUDWLRQ7UD\V7KHFXUUHQW
DJUHHPHQWZLWK%XVVH 3316 H[SLUHV
-DQXDU\
)LQDQFLDOFRQVLGHUDWLRQV
x 9DOXHDGGVVXFKDVJURZWK
LQFHQWLYHV
x 7UD\FRPSRQHQWV
x /DWHSD\PHQWSHQDOWLHV
x 0LQLPXPRUGHUUHTXLUHPHQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 6DIHW\YHUVXVVWDQGDUGSURGXFWV
x 6L]HVDQGVW\OHVRIERQHPDUURZ
ELRSV\QHHGOHV
x 6DIHW\PHFKDQLVPRQ
WKRUDFHQWHVLVQHHGOHV
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x 7UD\VDYDLODEOHZLWKRUZLWKRXW
VSHFLDOW\QHHGOHV
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQW
)LQDQFLDODQDO\VLVUHYHDOV&DUH)XVLRQRIIHUVDSHUFHQW
VDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&DUH)XVLRQRIIHUVDUHEDWHIRULQFUHPHQWDOVDOHVRIVRIWWLVVXHELRSV\QHHGOHV
&DUH)XVLRQLVDYDLODEOHGLUHFWDQGWKURXJKGLVWULEXWLRQ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EH
EURNHQ7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
x 3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
x 3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
%HGVLGH3URFHGXUH7UD\VDQG1HHGOHV(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
5HODWHGFDWHJRULHV
x
x
x
x
x
x
&XVWRP3URFHGXUH7UD\V*RZQVDQG5HODWHG3URGXFWV6SHFLILFDOO\GHVLJQHGSDFNVWKDWFRPELQHWKH
GLVSRVDEOHLWHPVQHHGHGIRUVSHFLILFVXUJLFDOSURFHGXUHVDVZHOODVVWDQGDUGL]HGGUDSHVDQGJRZQVXVHG
GXULQJVXUJLFDOSURFHGXUHV
'LDJQRVWLFDQG,QWHUYHQWLRQDO5DGLRORJ\&RUHGLVSRVDEOHUDGLRORJ\SURGXFWVVXFKDVVRIWWLVVXHELRSV\
QHHGOHVXVHGSULPDULO\IRUWKHWUHDWPHQWRISHULSKHUDOYDVFXODUGLVHDVHLQFOXGLQJSHULSKHUDODQJLRJUDSK\
SHULSKHUDODQJLRSODVW\VWHQWSODFHPHQWDQGRWKHULQWHUYHQWLRQDOUDGLRORJ\SURFHGXUHV
5HJLRQDO$QHVWKHVLD7UD\V6XSSOLHVQHHGHGIRUWKHDSSOLFDWLRQRIUHJLRQDODQHVWKHVLDWKURXJKHSLGXUDOVDQG
VSLQDOLQMHFWLRQVDQGWKHLQGXFWLRQRISDLQPDQDJHPHQW
6DIHW\+\SRGHUPLF3URGXFWV6DIHW\SURGXFWVWKDWDUHHQJLQHHUHGWRSUHYHQWDFFLGHQWDOVKDUSVLQMXU\GXULQJ
RUDIWHUXVHDQGLQFOXGHDQDFWLYHRUSDVVLYHVDIHW\PHFKDQLVP
6WDQGDUG+\SRGHUPLF3URGXFWV1RQVDIHW\SURGXFWVXVHGWRGUDZXSDQGDGPLQLVWHUPHGLFDWLRQVYLDRUDO
LQWUDGHUPDOVXEFXWDQHRXVLQWUDPXVFXODURULQWUDYHQRXVLQMHFWLRQ
6XWXUH5HPRYDODQG/DFHUDWLRQ7UD\V6WDQGDUGVXWXUHUHPRYDONLWVODFHUDWLRQWUD\VVWDSOHUHPRYDONLWV
DQGPLQRUSURFHGXUHWUD\VVXFKDVLQFLVLRQDQGGUDLQDJHDQGQRVHEOHHGWUD\V
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
%ODGGHU6FDQQHUV
(IIHFWLYH-XQH
([SLUHV0D\
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVHTXLSPHQWXVHGDVDQRQLQYDVLYHPHWKRGRI
DVVHVVLQJEODGGHUYROXPHDQGRWKHUEODGGHUFRQGLWLRQVWRGHWHUPLQH
WKHDPRXQWRIXULQHUHWHQWLRQRUSRVWYRLGUHVLGXDOXULQH
6XSSOLHU
&ODVVRIWUDGH
x
x
/DERULHLVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHV/RQJWHUPFDUHFODVVHVRIWUDGHDUH
H[FOXGHGIURPSXUFKDVLQJXQGHUWKLVDJUHHPHQW
0HGOLQHLVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
VXUJHU\FHQWHUV
&UDLJ
FPLGGOHWRQ#ODERULHFRP
0LGGOHWRQ
'HUULFN
0HGOLQH
GILWFKHQD#PHGOLQHFRP
)LWFKHQD
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0DUFK)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
/DERULH
+RZWRRSHUDWLRQDOL]HWKLVDJUHHPHQW
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') SULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHUZLWKERWKVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWKERWKVXSSOLHUV 2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
1HZ
([SLULQJ
3316
3316
3316
$616
3316
/DERULHLVDVPDOOEXVLQHVVHQWHUSULVH 6%( /DERULHDFTXLUHG0HGLZDWFK
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x $YDLODELOLW\RIORDQHUV
x :DUUDQWLHV
x 0DLQWHQDQFHDQGFDOLEUDWLRQFRVWV
x 3RWHQWLDOWLPHVXSSO\DQGOHQJWK
RIVWD\VDYLQJVFRPSDUHGWR
FDWKHWHUL]DWLRQ
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3DWLHQWSRSXODWLRQHJPDOH
IHPDOHDGXOWFKLOG
x 3DWLHQWFRPIRUW
x /RZHUULVNRILQIHFWLRQFRPSDUHG
WRFDWKHWHUL]DWLRQ
x 5HVXOWVDUHDYDLODEOHLPPHGLDWHO\
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKERWK
5RDGEORFNVWRFRQYHUVLRQ
VXSSOLHUV
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
/DERULH¶VQHZDJUHHPHQWRIIHUVSHUFHQWVDYLQJVRYHUDOO
FRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0HGOLQH¶VQHZDJUHHPHQWRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
/DERULHLVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ/DERULHDQG0HGOLQH
$YDLODEOHGLUHFW/DERULHDQG0HGOLQH
66*OREDODOVRRIIHUVXOWUDVRXQGJHO6HH66*OREDO0DVWHUDJUHHPHQWODXQFKGRFXPHQWIRUGHWDLOV
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDYDLODEOH
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
x 3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
x 3URGXFWFURVVUHIHUHQFH $Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
%ODGGHU6FDQQHUV
(IIHFWLYH-XQH
([SLUHV0D\
5HODWHGFDWHJRULHV
x 3K\VLFDO7KHUDS\3URGXFWV3K\VLFDOWKHUDS\SURGXFWVDQGH[HUFLVHHTXLSPHQWXVHGWRSURYLGHWKHUDS\DLPHG
DWGHYHORSLQJPDLQWDLQLQJDQGUHVWRULQJPD[LPXPPRYHPHQWDQGIXQFWLRQDODELOLW\ LQFOXGHVXOWUDVRXQGJHO
ZKLFKLVXVHGZLWKEODGGHUVFDQQHUHTXLSPHQW x 8OWUDVRXQG 5DGLRORJ\&DUGLRORJ\+DQG&DUULHG 8OWUDVRXQGHTXLSPHQWGLVLQIHFWLRQV\VWHPVDQGVHUYLFH
DJUHHPHQWVIRUUDGLRORJ\FDUGLRORJ\DQGKDQGFDUULHGXOWUDVRXQGV\VWHPV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
%RZHO0DQDJHPHQW (IIHFWLYH-DQXDU\
([SLUHV0DUFK
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVSURGXFWVVSHFLILFDOO\GHVLJQHGWRVDIHO\DQG
UHOLDEO\GLYHUWFROOHFWRUFRQWDLQQRQVXUJLFDOO\LQGXFHGJDVWURLQWHVWLQDO
ZDVWHFUHDWHGE\EHGULGGHQLPPRELOL]HGRUFULWLFDOO\LOOSDWLHQWVLQ
KRVSLWDOVQXUVLQJKRPHVUHKDELOLWDWLRQFHQWHUVRUKRPHKHDOWK
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
&ODVVRIWUDGH
6HHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
x %DUGLVDYDLODEOHWRVHOHFWDFXWHFDUHDQGQRQDFXWH
KHDOWKFDUHSURYLGHUV
x &RORSODVWLVDYDLODEOHRQO\WRPHPEHUVZKRSXUFKDVH
SURGXFWVIRUWKHLU³RZQXVH´
x &RQYD7HFLVDYDLODEOHWRKRVSLWDOPHPEHUV
'DYLG/
GDYLGVPLWK#FUEDUGFRP
6PLWK
&RORSODVW /LVD0XOU\ XVODP#FRORSODVWFRP
&RQVXUH
(PLO\
HUHLFKDUW#FRQVXUHPHGLFDOFRP
0HGLFDO
5HLFKHUW
.HLWK
&RQYD7HF
NHLWKUREHUWV#FRQYDWHFFRP
5REHUWV
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-DQXDU\)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
%DUG
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHURUKLJKHUZLWK%DUG
&RORSODVWUHTXLUHVD30')3$IRU7LHU
&RQYD7HFUHTXLUHVD30')3$IRUDOOWLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
3316
([SLULQJ
3316
$616
3316
1HZ
3316
1HZ
3316
$616
3316
&RQVXUH0HGLFDOKDVEHHQDZDUGHGD
7HFKQRORJ\%UHDNWKURXJKFRQWUDFWHIIHFWLYH
)HEUXDU\
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 5HGXFHVWKHULVNRILQIHFWLRQ
ZKLFKPD\VKRUWHQOHQJWKRIVWD\
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x )HFDOFRQWDPLQDWLRQ
x 6NLQEUHDNGRZQFRQFHUQV
x 2GRUFRQWURO
x 3DWLHQWGLJQLW\
x /HDNDJH
5RDGEORFNVWRFRQYHUVLRQ
x ([LVLWQJVXSSOLHUUHODWLRQVKLSV
x &OLQLFLDQSUHIHUHQFH
%DUGDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQG
HVWDEOLVKHGQHWZRUNVIRU7LHURQO\
&RQYD7HFDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\,'1VWKDWKDYHWKHDELOLW\WRPDNHSXUFKDVLQJGHFLVLRQVIRU
WKHLURZQHGOHDVHGDQGPDQDJHGIDFLOLWLHV
$JJUHJDWLRQZLWK&RORSODVWLVQRWDSSOLFDEOHGXHWRVLQJOHWLHURIIHULQJ
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPZLWKDOOVXSSOLHUV
%DUGRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
)RUWKHLQLWLDOGD\VRIWKLVDJUHHPHQW%DUGZLOOJUDQGIDWKHUDOOPHPEHUWLHUGHVLJQDWLRQVIURP3316
7KLVFODXVHRQO\VHUYHVWRJUDQGIDWKHUWKHPHPEHU¶VWLHUGHVLJQDWLRQ3ULFLQJLPSOLFDWLRQVZLOOYDU\RQ
DQLQGLYLGXDOEDVLV
&RORSODVWRIIHUVDQLFKHWUDQVDQDOLUULJDWLRQV\VWHPIRUSDWLHQWVZLWKQHXURJHQLFERZHOG\VIXQFWLRQ 1%' &RQYD7HFRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RQYD7HFLVWKHRYHUDOOORZFRVWVXSSOLHU
$YDLODEOHWKURXJKGLVWULEXWLRQ%DUGDQG&RQYD7HF
$YDLODEOHGLUHFW%DUGDQG&RORSODVW
1RWH)LQDQFLDODQDO\VLVDQGSULFLQJLQIRUPDWLRQDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
%RZHO0DQDJHPHQW (IIHFWLYH-DQXDU\
([SLUHV0DUFK
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUFXVWRPL]DWLRQIRUPHPEHU
VSHFLILFQHHGV7KHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7RPDLQWDLQOLQNLQWHJULW\
SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVDOVRLQFOXGHG
7HFKQRORJ\%UHDNWKURXJKFRQWUDFWDQQRXQFHPHQW$3')XSGDWHGRFXPHQWSURYLGLQJLQIRUPDWLRQDERXW
7HFKQRORJ\%UHDNWKURXJKDZDUGHGVXSSOLHU V DGGHGWRWKHFDWHJRU\7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRU\
x
(QWHURVWRPDO7KHUDS\3URGXFWV3URGXFWVXVHGLQWKHWUHDWPHQWRISDWLHQWVZLWKVXUJLFDOO\FRQVWUXFWHG
FRQQHFWLRQVEHWZHHQWKHODUJHDQGVPDOOLQWHVWLQHV FRORQDQGLOHXP DQGEHWZHHQWKHXULQDU\WUDFW
EODGGHUXUHWKUDXUHWHUV DQGWKHVNLQWRSHUPLWWKHUHPRYDORIJDVWURLQWHVWLQDODQGXULQDU\ZDVWH
SURGXFWVIURPWKHERG\
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
%UHDVW3XPS(TXLSPHQWDQG$FFHVVRULHV (IIHFWLYH$SULO
([SLUHV0DUFK
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHU
7KLVFDWHJRU\LQFOXGHVEUHDVWSXPSHTXLSPHQWDQGSURGXFWVUHTXLUHG
IRUXVHGXULQJWKHEUHDVWIHHGLQJSURFHVV HJFDSLWDOHTXLSPHQW
JDUPHQWVRLQWPHQWVDQGDFFHVVRULHVXVHGGXULQJODFWDWLQJSURFHVV &ODVVRIWUDGH
7KHDJUHHPHQWLVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHV
0HGHOD
-DVRQ
3DWWHUVRQ
[
MDVRQSDWWHUVRQ#PHGHODFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-DQXDU\)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
(OHFWURQLFSULFHDFWLYDWLRQ 3$ RUD3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ
)RUP 30') LVUHTXLUHGIRU7LHUDQGKLJKHU
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQW
0HGHODRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKH
H[SLULQJDJUHHPHQW
0HGHODRIIHUVYDOXHDGGVVXFKDVWUDGHLQFUHGLWVQHZDFFRXQW
FUHGLWVPLONZDUPHUEXONRUGHUSURJUDPVDQGPXOWLFDWHJRU\
LQFHQWLYHV
0HGHODFKDUJHVDIHHIRURUGHUVOHVVWKDQ
$YDLODEOHWKURXJKGLVWULEXWLRQ0HGHOD
$YDLODEOHGLUHFW0HGHOD
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWH
LQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
6XSSOLHU
1HZ
([SLULQJ
3316 33:&
$616 $6:&
&XUUHQWDJUHHPHQWVZLWK*HQDG\QH 33:& DQG+\JHLD 33:& H[SLUH0DUFK
&UHFKH 33:& H[SLUHG2FWREHU
)LQDQFLDOFRQVLGHUDWLRQV
x $FTXLVLWLRQRSWLRQVHJUHQWOHDVH
SXUFKDVH
x &RQVLJQPHQWSURJUDPV
x 'LVSRVDEOHVFRVWV
x ,QVXUDQFHFRYHUDJH
x 0LQLPXPRUGHUUHTXLUHPHQWV
x 9DOXHDGGV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x &RPIRUWDQGILW
x (GXFDWLRQDOPDWHULDOV
x (IILFLHQF\
x +DQGIUHHSXPSLQJRSWLRQ
x 3UHHPLHRSWLRQ
x 7UDQVSRUWDWLRQDQGDVVHPEO\
x &OHDQLQJDQGLQIHFWLRQSUHYHQWLRQ
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x ,QVXUDQFHFRYHUDJH
x 8VHUSUHIHUHQFH
x /DFWDWLRQFRQVXOWDQWSUHIHUHQFH
x $YDLODELOLW\RIGLVSRVDEOHVIRU
PRWKHUDIWHUOHDYLQJKRVSLWDO
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
x
x
5HODWHGFDWHJRU\
x
,QIDQWIRUPXOD,QIDQWIRUPXOD SRZGHUDQGOLTXLG QXUVHUVERWWOHVQLSSOHVDQGZDWHU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
&DWKHWHU7XEH6HFXUHPHQWDQG6WDELOL]DWLRQ3URGXFWV(IIHFWLYH6HSWHPEHU
([SLUHV$XJXVW
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVVXWXUHOHVVVHFXUHPHQWDQGVWDELOL]DWLRQ
SURGXFWVWKDWHQDEOHKHDOWKFDUHZRUNHUVWRGHOLYHUIOXLGVPHGLFDWLRQV
RUWRGUDLQERGLO\IOXLGV
3URGXFWVLQWKLVFDWHJRU\GRQRWLQFOXGHHQGRWUDFKHDORUWUDFKHRVWRP\
WXEHKROGHUVDQGXURORJLFDOVHFXUHPHQWGHYLFHVZKLFKFDQEHIRXQGLQ
UHODWHGFDWHJRULHV
&ODVVRIWUDGH
x
x
$FFHVV6FLHQWLILF%LR'HUPDQG,9+RXVHDUHDYDLODEOHWR
DFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUH
IDFLOLWLHV
0DQG%DUGDUHDYDLODEOHWRDFXWHFDUHDQGQRQDFXWH
KHDOWKFDUHIDFLOLWLHV
0
5RJHU5DWOLII
UGUDWOLII#PPPFRP
$FFHVV
6FLHQWLILF
3KLO5R\VWRQ
SUR\VWRQ#DFFHVVVFLHQWLILFF
RP
GDYLGVPLWK#FUEDUGFRP
MWHUSVWUD#ELRGHUPLQFFRP
OLVD#LYKRXVHFRP
'DYLG/
6PLWK
-DPHV
7HUSVWUD
%DUG
%LR'HUP
,9+RXVH
/LVD9DOOLQR
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316
3316
$616
3316
3316
$616
1HZ
1HZ
3316 3316
3316
1HZ
$FFHVV6FLHQWLILFDQG%LR'HUPDUHVPDOOEXVLQHVV
HQWHUSULVHV 6%( ,9+RXVHLVDZRPDQRZQHG
EXVLQHVVHQWHUSULVH :%( $6&(1'7KLVFDWHJRU\KDVEHHQ
GHVLJQDWHGDV5LGJH9LVLWWKH$6&(1'SRUWDO
IRU$6&(1'ODXQFKPDWHULDOV
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-DQXDU\)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURU
KLJKHUZLWK0$FFHVV6FLHQWLILF%DUGDQG,9+RXVH
$30')3$LVQRWUHTXLUHGZLWK%LR'HUPGXHWRVLQJOHWLHURIIHULQJ
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRI
IDFLOLWLHVZLWK0$FFHVV6FLHQWLILF%LR'HUPDQG,9+RXVH
x 0UHTXLUHVIDFLOLWLHVWRLQGHSHQGHQWO\FRPPLWWRWKHSDUWLFLSDWLRQUHTXLUHGE\WKHWLHU
%DUGDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKDOOVXSSOLHUV
0RIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
%LR'HUPRIIHUVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
%DUGLVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPVIRUVWDELOL]DWLRQGHYLFHV
%DUGRIIHUVJUDQGIDWKHUHGSULFLQJIRUWKHILUVWPRQWKVRIWKHDJUHHPHQW
$FFHVV6FLHQWLILFLVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPVZKHQWUDQVSDUHQWGUHVVLQJFRVWVLQFOXGHG
$YDLODEOHWKURXJKGLVWULEXWLRQ0$FFHVV6FLHQWLILF%LR'HUPDQG,9+RXVH
$YDLODEOHGLUHFW$FFHVV6FLHQWLILF%DUG%LR'HUPDQG,9+RXVH
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
&DWKHWHU7XEH6HFXUHPHQWDQG6WDELOL]DWLRQ3URGXFWV(IIHFWLYH6HSWHPEHU
([SLUHV$XJXVW
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
x
x
x
x
&HQWUDO9HQRXV$FFHVV3URGXFWV&HQWUDOYHQRXVDFFHVVFDWKHWHUVVKHDWKVGLODWRUVDQGNLWVLQFOXGLQJWKH
DFFHVVFDWKHWHUVVHFXUHPHQWGHYLFHVDQGWKHPD[LPXPEDUULHUNLWV
(QGRWUDFKHDO7XEHVDQG5HODWHG3URGXFWV7XEHVGHVLJQHGWRGHOLYHUR[\JHQRUDQHVWKHVLDWRWKHSDWLHQW
WXEHKROGHUVLQFOXGHG ,96LWH0DQDJHPHQWDQG$FFHVVRULHV.LWVDQGSURGXFWVXVHGLQWKHPDLQWHQDQFHRI,9LQVHUWLRQVLWHV HJ,9
VWDUWNLWVFHQWUDOOLQHGUHVVLQJNLWV,9FDWKHWHUVHFXUHPHQWGHYLFHV 3,&&DQG0LGOLQH$FFHVV3URGXFWV3,&&VPLGOLQHFDWKHWHUVDQGVXSSOLHV
7UDFKHRVWRP\7XEHVDQG5HODWHG3URGXFWV3URGXFWVXVHGWRNHHSWKHWUDFKHDRSHQGXHWRDLUZD\REVWUXFWLRQ
WXEHKROGHUVLQFOXGHG 7UDQVSDUHQW'UHVVLQJV'UHVVLQJVXVHGLQZRXQGPDQDJHPHQWWKDWDUHWUDQVSDUHQWDOORZLQJIRUYLVXDO
LQVSHFWLRQRIWKHVLWHEHLQJPRQLWRUHG
*HQHUDO8URORJLFDO3URGXFWV)ROH\FDWKHWHUV)ROH\FDWKHWHUWUD\VXULQHPHWHUVGUDLQDJHEDJVXULQDU\
FDWKHWHUVHFXUHPHQWGHYLFHVXUHWKUDOWUD\VLUULJDWLRQWUD\VDQGPLGVWUHDPFDWFKNLWV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
&HQWUDO9HQRXV$FFHVV3URGXFWV
(IIHFWLYH-XO\
([SLUHV-XQH
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVFHQWUDOYHQRXVDFFHVVFDWKHWHUVVKHDWKV
GLODWRUVDQGNLWVLQFOXGLQJWKHDFFHVVFDWKHWHUVVHFXUHPHQWGHYLFHV
DQGWKHPD[LPXPEDUULHUNLWV
$ZDUGHGVXSSOLHUV
6XSSOLHU
&ODVVRIWUDGH
x
x
$JUHHPHQWVZLWK$FFHVV6FLHQWLILF&HQWXULRQDQG0HGFRPS
DUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQ
KHDOWKFDUHIDFLOLWLHV
$UURZ7HOHIOH[DQG%DUGKDYHFODVVRIWUDGHH[FOXVLRQV6HH
WKHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
$FFHVV
6FLHQWLILF
$UURZ
7HOHIOH[
%DUG
&HQWXULRQ
0HGFRPS
3KLO5R\VWRQ
0DWWKHZ
7RXFK
'DYLG/
6PLWK
$GULHQQH
&URLVVDQW
$GDP%URG\
SUR\VWRQ#DFFHVVVFLHQWLILF
FRP
PDWWWRXFK#WHOHIOH[FRP
GDYLGVPLWK#FUEDUGFRP
DFURLVVDQW#FHQWXULRQPSF
RP
DEURG\#PHGFRPSQHWFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-DQXDU\)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKDOOVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
1HZ
([SLULQJ
3316
3316
3316
3316
$616
1HZ
3316
3316
$616
3316
1HZ
1HZ
$FFHVV6FLHQWLILFLVDVPDOOEXVLQHVVHQWHUSULVH
6%( )LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 8WLOL]DWLRQRIDQWLPLFURELDOFDWKHWHUV
x 6WDQGDUGYVFXVWRPNLWV
x 'HFUHDVHGFRPSOLFDWLRQVDQGOHQJWK
RIVWD\
x 9DOXHDGGVHJDGGLWLRQDOGLVFRXQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x &HQWUDOOLQHDVVRFLDWHGEORRGVWUHDP
LQIHFWLRQV &/$%6,V x (OHFWURQLFPHGLFDOUHFRUG (05 FRPSDWLELOLW\
x )UHQFKVL]HVDQGQXPEHURIOXPHQV
DYDLODEOH
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
$FFHVV6FLHQWLILF&HQWXULRQDQG0HGFRPSDOORZDJJUHJDWLRQ
IRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQG
HVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWKDOOVXSSOLHUV
x 0HGFRPSUHTXLUHV*32IDFLOLWLHVWRLQGHSHQGHQWO\PHHWWKHSDUWLFLSDWLRQUHTXLUHGE\WKHDSSOLFDEOHWLHU
$UURZ7HOHIOH[DOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGDWWKHVHOOHU¶V
GLVFUHWLRQHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV$JJUHJDWLRQLVOLPLWHGWRRZQHGOHDVHGDQGPDQDJHG 2/0 IDFLOLWLHV*32IDFLOLWLHVPXVWLQGHSHQGHQWO\PHHWWKHSDUWLFLSDWLRQUHTXLUHGE\WKHDSSOLFDEOHWLHU
%DUGDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
$FFHVV6FLHQWLILF¶VQHZDJUHHPHQWRIIHUVIODWSULFLQJFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
$UURZ7HOHIOH[¶VQHZDJUHHPHQWRIIHUVSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
%DUGZLOOJUDQGIDWKHUORFDOPHPEHUSULFLQJIRUWKHILUVWPRQWKVRIWKLVDJUHHPHQW6HHWKHYDOXH
DQDO\VLVWRRONLWIRUGHWDLOV
&HQWXULRQLVWKHORZFRVWVXSSOLHUVIRUQRQWXQQHOHGFDWKHWHUV
0HGFRPSLVWKHORZFRVWVXSSOLHUIRUWXQQHOHGFDWKHWHUV
$YDLODEOHWKURXJKGLVWULEXWLRQ$FFHVV6FLHQWLILF$UURZ7HOHIOH[&HQWXULRQDQG0HGFRPS
$YDLODEOHGLUHFW$FFHVV6FLHQWLILF$UURZ7HOHIOH[%DUG&HQWXULRQDQG0HGFRPS
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
&HQWUDO9HQRXV$FFHVV3URGXFWV
(IIHFWLYH-XO\
([SLUHV-XQH
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
x
&DWKHWHU7XEH6HFXUHPHQWDQG6WDELOL]DWLRQ3URGXFWV6XWXUHOHVVVHFXUHPHQWDQGVWDELOL]DWLRQ
SURGXFWV
,PSODQWDEOH,QIXVLRQ3RUWV,PSODQWHGGHYLFHVXVHGWRSURYLGHDFFHVVLQWKHGHOLYHU\RIPHGLFDWLRQVLQWR
WKHSDWLHQW¶VEORRGVWUHDP
3,&&DQG0LGOLQH$FFHVV3URGXFWV3,&&VDQGPLGOLQHFDWKHWHUVDQGVXSSOLHV
7UDQVSDUHQW'UHVVLQJV'UHVVLQJVWKDWDUHXVHGWRFRYHUFDWKHWHUVLWHVDQGVHFXUHGHYLFHVWRWKHVNLQ
ZKLOHDOORZLQJYLVLELOLW\RIWKHVLWH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
&KORUKH[LGLQH*OXFRQDWH &+* 6NLQ3UHS3URGXFWV(IIHFWLYH$XJXVW
([SLUHV-XO\
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVPLQLPXPSHUFHQWFKORUKH[LGLQHJOXFRQDWH
&+* DQGSHUFHQWLVRSURS\ODOFRKRO ,6$ FKHPLFDODQWLVHSWLF
SURGXFWVDQGVROXWLRQVZKLFKDUHXVHGDVSUHVXUJLFDORU
LQWHUYHQWLRQDOSURFHGXUDOVFUXEVRUDVDJHQHUDOZRXQGFOHDQVHU
GHVLJQHGWRUHGXFHEORRGVWUHDPLQIHFWLRQV
6XSSOLHU
3316 3316
&ODVVRIWUDGH
x
%'&DUH)XVLRQLVDYDLODEOHWR86KHDOWKFDUHSURYLGHUVQRW
LQFOXGLQJUHWDLOSKDUPDFLHVRWKHUUHWDLODQGFRQWUDFWUHVHDUFK
RUJDQL]DWLRQV &52V 3',LVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQ
KHDOWKFDUHIDFLOLWLHV
([SLULQJ
3316 3316
$616 $616
x
1HZ
$6&(1'7KLVFDWHJRU\KDVEHHQGHVLJQDWHG
DV5LGJH9LVLWWKH$6&(1'SRUWDOIRU
$6&(1'ODXQFKPDWHULDOV
%'
&DUH)XVLRQ
=DFN
]DFKDU\PRRUH#FDUHIXVLRQ
0RRUH
FRP
-HQQLIHU
3',
MHQQLIHUUKRGD#SGLKFFRP
0DUVK
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0D\)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHUDQGKLJKHUZLWK
ERWKVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
%'&DUH)XVLRQDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHG
QHWZRUNVRIIDFLOLWLHVZLWKWKHDELOLW\WRLQIOXHQFHSXUFKDVLQJGHFLVLRQV
3',DOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRI
IDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKERWKVXSSOLHUV
%'&DUH)XVLRQ¶VQHZDJUHHPHQWRIIHUVSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
3',RIIHUVJUDQGIDWKHUHGSULFLQJIRUWKRVHPHPEHUVZKRUHFHLYHGJUDQGIDWKHUHGSULFLQJRQ3316
3',¶VQHZDJUHHPHQWRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
3',LVWKHORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ&DUH)XVLRQDQG3',
$YDLODEOHGLUHFW3',
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EH
EURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
&KORUKH[LGLQH*OXFRQDWH &+* 6NLQ3UHS3URGXFWV(IIHFWLYH$XJXVW
([SLUHV-XO\
5HODWHGFDWHJRULHV
x
x
x
x
x
x
x
$QWLLQIHFWLRQ6LWH'UHVVLQJV'UHVVLQJSURGXFWVWKDWKDYHEHHQLPSUHJQDWHGZLWKDQWLPLFURELDODJHQWV
VXFKDV&+*
%HGVLGH3URFHGXUH7UD\V7UD\VZLWK&+*SUHSSLQJVROXWLRQV
,96LWH0DQDJHPHQWDQG$FFHVVRULHV.LWVDQGWUD\VZLWK&+*SUHSSLQJVROXWLRQV
3DWLHQW&OHDQVLQJDQG6NLQ&DUH %DJEDVHG 6LQJOHDSSOLFDWLRQSURGXFWVSDFNDJHGLQDGLVSRVDEOH
EDJLQFOXGLQJWKHSUHSDFNDJHG&+*ZLSHV
6SHFLDOW\'LVWULEXWLRQ±/DERUDWRU\DQGRU5HVHDUFK3URGXFWV6NLQSUHSSURGXFWVLQFOXGHG
6XUJLFDO+DQG3UHSV6ROXWLRQVGHYLFHVDQGDFFHVVRULHVWKDWDUHXVHGE\VXUJLFDOVWDIIWRGLVLQIHFWWKHLU
KDQGVSULRUWRVWDUWLQJVXUJLFDOSURFHGXUHV
6XUJLFDO3DWLHQW3UHS3URGXFWV6ROXWLRQVVXFKDVRQHVWHSVXUJLFDOVFUXEVDQGSDWLHQWSURGXFWVXVHG
WRGLVLQIHFWDQGSUHSWKHSDWLHQW¶VVNLQSULRUWRWKHVXUJLFDOLQFLVLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
&ORVHG9HQWLODWLRQ6XFWLRQ(IIHFWLYH1RYHPEHU
([SLUHV)HEUXDU\
3URGXFWVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVSURGXFWVXVHGLQQHRQDWHSHGLDWULFDQGDGXOW
SDWLHQWVWRDVSLUDWHRUVXFWLRQWKHEURQFKLDOWUHHRUWUDFKHDZLWKDQ
HQGRWUDFKHDOWXEHRUWUDFKHRVWRP\
7KHSURGXFWVDUHGHVLJQHGVRWKDWWKH\GRQRWUHTXLUHUHPRYLQJWKH
SDWLHQWIURPYHQWLODWRUVXSSRUWRUEUHDNLQJWKHFORVHGFLUFXLWRIWKH
YHQWLODWLRQV\VWHPIRUHDFKVXFWLRQLQJHSLVRGH
&ODVVRIWUDGH
$JUHHPHQWLVDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG3UHPLHU
5($&+PHPEHUV
MDQLVKDUYH\#K\K
FRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-XO\)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+DO\DUG+HDOWK
-DQLV+DUYH\ +RZWRRSHUDWLRQDOL]HWKLVDJUHHPHQW
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHU
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNV
$ZDUGHGVXSSOLHU
6XSSOLHU
1HZ
([SLULQJ
3316
3316
$616
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x KRXUYVKRXUFDWKHWHUFRVWV
LHFKDQJHRXWV
x 9DOXHDGGVHJUHEDWHVIRUOR\DOW\
SURJUDPVDQGFRQYHUVLRQV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 9HQWLODWRUDVVRFLDWHGSQHXPRQLD
9$3 UDWHUHGXFWLRQ
x &DWKHWHUFKDQJHRXWWLPHIUDPH
x &DWKHWHUOHQJWKVDQGGLDPHWHUV
DYDLODEOHIRUSDWLHQWSRSXODWLRQ
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
3ULFLQJLVILUPIRUWKHILUVWPRQWKVRIWKHDJUHHPHQWWKHUHDIWHU+DO\DUGZLOOLQFUHDVHSULFLQJ
SHUFHQWLQDJJUHJDWHIRUWKHUHPDLQLQJPRQWKV
<HDU+DO\DUGRIIHUVIODWSULFLQJFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
<HDUVDQG+DO\DUGRIIHUVDQRYHUDOOSHUFHQWLQFUHDVHFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
+DO\DUGRIIHUVFRQYHUVLRQDQGOR\DOW\UHEDWHV
3URGXFWVDUHDYDLODEOHGLUHFWIURP+DO\DUGDQGWKURXJKGLVWULEXWLRQ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$ZRUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKHZRUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7R
PDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH $Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
&ORVHG9HQWLODWLRQ6XFWLRQ(IIHFWLYH1RYHPEHU
([SLUHV)HEUXDU\
5HODWHGFDWHJRULHV
x
x
x
x
(QGRWUDFKHDO7XEHVDQG5HODWHG3URGXFWV7XEHVWKDWDUHLQVHUWHGWKURXJKWKHQRVHRUPRXWKDQGLQWRWKH
WUDFKHDWRPDLQWDLQDQXQREVWUXFWHGSDVVDJHZD\LQWRWKHOXQJV
2UDO&DUH6SRQJHVZDEVRUDOFDUHVROXWLRQVRUDOVXFWLRQWLSVDQGVXFWLRQWRRWKEUXVKHV
5HVSLUDWRU\7KHUDS\3URGXFWV3HDNIORZPHWHUVLQFHQWLYHVSLURPHWHUVPHDVXUHGGRVHLQKDOHU 0', KROGLQJFKDPEHUV VSDFHUV QHEXOL]HUVDQGGLVSRVDEOHVXSSOLHVVXFWLRQFDWKHWHUVPXFRXVWUDSVQRQYHQWHG
PDVNV&3$3DQG%L/HYHOPDVNVR[\JHQGHOLYHU\GLVSRVDEOHVGLVSRVDEOHYHQWLODWRUVXSSOLHVDQG
KXPLGLILFDWLRQSURGXFWVDQGUHVXVFLWDWLRQEDJV
6XFWLRQ&DQLVWHUV<DQNDXHUVDQG7XELQJVXFWLRQFDQLVWHUV<DQNDXHUVWXELQJ VWHULOHDQGQRQVWHULOH DQG
VROLGLILHUVXVHGIRUWKHSXUSRVHFROOHFWLQJPHGLFDOZDVWH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
&RKHVLYH%DQGDJHV
(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
3URGXFWVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVVHOIDGKHUHQWHODVWLFZUDSWKDWIXQFWLRQVOLNH
WDSHZKLFKVWLFNVWRLWVHOIDQGQRWWRWKHSDWLHQW¶VVNLQ
$ZDUGHGVXSSOLHUV
6XSSOLHU
&ODVVRIWUDGH
x $QGRYHUDQG66DUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRI
FDUHDQG3UHPLHU5($&+PHPEHUV
x 0LVDYDLODEOHWRDFXWHFDUHDQGQRQDFXWHKHDOWKFDUH
IDFLOLWLHV6HHYDOXHDQDO\VLVWRRONLWIRUVSHFLILFFODVVRIWUDGH
DYDLODELOLW\
5RGJHU
UGUDWOLII#PPPFRP
5DWOLII
.HYLQ
$QGRYHU
NWKRPDV#DQGRYHUKHDOWKFDUHFRP
7KRPDV
&KULV
66
FKULVBPFFDZ#SUHPLHULQFFRP
0F&DZ
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$XJXVW)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
0
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHUZLWKDOOVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVZLWKDOOVXSSOLHUV
x 0UHTXLUHVPHPEHU¶VRZQHGRUFRQWUROOHGIDFLOLWLHVWR
LQGHSHQGHQWO\FRPPLWWRWKHSDUWLFLSDWLRQUHTXLUHGE\WKHWLHU
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
3
1HZ
([SLULQJ
3316
3316
3316
$616
3316
$616
336;
$66;
1HZ
$QGRYHULVDVPDOOEXVLQHVVHQWHUSULVH 6%( )LQDQFLDOFRQVLGHUDWLRQV
x &RKHVLYHEDQGDJHVLQNLWVYV
LQGLYLGXDOSXUFKDVH
x 5HLPEXUVHPHQW
x 9DOXHDGGVHJHDUO\FRQYHUVLRQ
LQFHQWLYHVDQGSURGXFWGLVFRXQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3DWLHQWFRPIRUW
x %DQGDJHVQRWPDGHZLWKQDWXUDO
UXEEHUODWH[RIIHUHG
x (DVHRIWHDULQJE\KDQGYV
VFLVVRUV
x &RORUVDQGNLGSULQWVDYDLODEOH
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
3ULFLQJLVILUPIRUWKHWHUPZLWKDOOVXSSOLHUV
0RIIHUVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
$QGRYHURIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
$QGRYHURIIHUVDQHDUO\FRQYHUVLRQLQFHQWLYHDQG&R)OH[EUDQGFRQYHUVLRQLQFHQWLYH
66LVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ0$QGRYHUDQG66
$YDLODEOHGLUHFW66 66ZLOOVKLSGLUHFWLIPHPEHUFDQDFFHSWFRQWDLQHUVKLSPHQWV 1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
&RKHVLYH%DQGDJHV
(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
5HODWHGFDWHJRULHV
x
x
x
x
x
$GKHVLYH6NLQ&ORVXUHV$GKHVLYHSURGXFWVXVHGWRH[WHUQDOO\KROGVNLQWRJHWKHURYHULQFLVLRQVRUZRXQGV
%DQGDJHV'UHVVLQJVDQG*DX]H3URGXFWVXVHGLQWKHWUHDWPHQWRISDWLHQWVZLWKLQMXULHVVXUJLFDOLQFLVLRQV
XOFHUVRUZRXQGVWKDWQHHGVLPSOHGUHVVLQJVRUFRYHULQJVWKDWSHUPLWWKHFRQWDLQPHQWRIGUDLQDJH
6NLQ,QWHJULW\0XOWLOD\HUFRPSUHVVLRQZUDSVXVHGWRWUHDWDQGSUHYHQWHGHPDDQGYHQRXVLQHIILFLHQFLHV
7DSH3URGXFWV1DUURZVWULSVRIVWURQJZRYHQIDEULFRUPDWHULDOVXWLOL]HGWRELQGRUKROGVRPHWKLQJLQSODFH
7UDQVSDUHQW'UHVVLQJV'UHVVLQJVXVHGLQZRXQGPDQDJHPHQWZKLFKDOORZIRUYLVXDOLQVSHFWLRQRIWKHVLWH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
'LDO\VLV3URGXFWVDQG$FFHVVRULHV
(IIHFWLYH1RYHPEHU
([SLUHV2FWREHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVFDSLWDOFRQVXPDEOHVIOXLGVDQG
SKDUPDFRORJLFDOSURGXFWVDVVRFLDWHGZLWKWKHWUHDWPHQWDQGVXSSRUW
RIDFXWHRUFKURQLFUHQDOGLVHDVHRUIDLOXUHSDWLHQWVEHLQJWUHDWHG
WKURXJKKHPRGLDO\VLVSHULWRQHDOGLDO\VLVRUFRQWLQXRXVUHQDO
UHSODFHPHQWWKHUDS\ &557 &ODVVRIWUDGH
x
x
$QJLR'\QDPLFVDQG0HGFRPSDUHDYDLODEOHWRDFXWHFDUH
QRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV6HHYDOXH
DQDO\VLVWRRONLWIRUGHWDLOV
$UURZ7HOHIOH[%DUG$FFHVV%DUG3HULSKHUDO%%UDXQDQG
&RYLGLHQDUHDYDLODEOHWRDFXWHFDUHDQGQRQDFXWHKHDOWKFDUH
IDFLOLWLHV6HHYDOXHDQDO\VLVWRRONLWIRUUHVWULFWLRQVDQGGHWDLOV
$QJLR
'\QDPLFV
$UURZ
7HOHIOH[
%DUG
$FFHVV
%DUG
3HULSKHUDO
%HWK
:LOOLDPV
0DWWKHZ
7RXFK
'DYLG/
6PLWK
'DYLG/
6PLWK
%%UDXQ
6DP$PRU\
VDPDPRU\#EEUDXQFRP
&RYLGLHQ
*UHJ
*RRGDOO
JUHJMJRRGDOO#PHGWURQLFFRP
0HGFRPS
$GDP%URG\ DEURG\#PHGFRPSQHWFRP
EZLOOLDPV#DQJLRG\QDPLFVFRP
PDWWWRXFK#WHOHIOH[FRP
GDYLGVPLWK#FUEDUGFRP
GDYLGVPLWK#FUEDUGFRP
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316
3316
3316
3316
3316
3316
3316
3316
3316
3316
$616
3316
3316
$616
3316 3316
7KHFXUUHQWDJUHHPHQWZLWK'LDVRO 3316
H[SLUHV2FWREHU
1RWH3UHPLHUUHVHUYHVWKHULJKWWRDGG
VXSSOLHUVDWDQ\WLPHGXULQJWKHFRQWUDFWLQJ
F\FOH
$6&(1'7KLVFDWHJRU\KDVEHHQ
GHVLJQDWHGDV3HDN±6HOHFW33,9LVLWWKH
$6&(1'SRUWDOIRU$6&(1'ODXQFK
PDWHULDOV
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI)HEUXDU\)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK
DOOVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
x
$QJLR'\QDPLFVDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHG
QHWZRUNVRIIDFLOLWLHV7KHDJJUHJDWLRQRSWLRQLVLQWHQGHGIRURZQHGOHDVHGRUPDQDJHG 2/0 V\VWHPVRU
*32VWKDWKDYHPDUNHWVKDUHRISHUFHQWIRU7LHURUSHUFHQWIRU7LHUZLWK$QJLR'\QDPLFVEDVHGRQWKH
DQQXDOVSHQGGDWD
$UURZ7HOHIOH[DOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGDWVHOOHU¶V
GLVFUHWLRQHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV$JJUHJDWLRQLVOLPLWHGWRRZQHGOHDVHGDQGPDQDJHG 2/0 IDFLOLWLHV*32IDFLOLWLHVPXVWLQGHSHQGHQWO\PHHWWKHSDUWLFLSDWLRQUHTXLUHGE\WKHDSSOLFDEOHWLHU
%DUG$FFHVVDQG%DUG3HULSKHUDODOORZDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVRI
IDFLOLWLHV
%%UDXQDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNV
RIIDFLOLWLHV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
'LDO\VLV3URGXFWVDQG$FFHVVRULHV
(IIHFWLYH1RYHPEHU
([SLUHV2FWREHU
$JJUHJDWLRQRSSRUWXQLWLHV FRQWLQXHG x
x
&RYLGLHQDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVZLWKWKHDELOLW\WRLQIOXHQFH
SXUFKDVLQJGHFLVLRQV
0HGFRPSDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHG
QHWZRUNVRIIDFLOLWLHV*32IDFLOLWLHVPXVWLQGHSHQGHQWO\PHHWWKHSDUWLFLSDWLRQUHTXLUHGE\WKHDSSOLFDEOHWLHU
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWK$QJLR'\QDPLFV%DUG$FFHVV%DUG3HULSKHUDO%%UDXQDQG
0HGFRPS
x &RYLGLHQSULFLQJLVILUPIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWRQDOLQHLWHP
EDVLVIRUHDFKSHUFHQWLQFUHDVHLQDJJUHJDWHFRVW
$QJLR'\QDPLFVRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
$QJLR'\QDPLFVZLOOJUDQGIDWKHUPHPEHUWLHUGHVLJQDWLRQVIURP3316IRUWKHLQLWLDOGD\VRIWKLV
DJUHHPHQW0HPEHUVDUHHQWLWOHGWRWKHSULFHVDVVRFLDWHGZLWKWKRVHWLHUVZLWKLQWKLVDJUHHPHQW
$UURZ7HOHIOH[KDVDSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
%DUG$FFHVVRIIHUVIODWSULFLQJFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
%DUG3HULSKHUDORIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
%DUG$FFHVVDQG%DUG3HULSKHUDOZLOOJUDQGIDWKHUPHPEHUSULFLQJXQGHULQGLYLGXDODJUHHPHQWVIRUWKHILUVW
PRQWKVRIWKH3UHPLHUDJUHHPHQWLIVXSHULRUWRWKHPHPEHU¶VTXDOLI\LQJWLHU0HPEHUVDUHUHTXLUHGWRPDLQWDLQ
KLVWRULFDOSXUFKDVLQJFRPSOLDQFHOHYHOV
%%UDXQRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
&RYLGLHQRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
0HGFRPSKDVDSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
$UURZ7HOHIOH[LVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ$UURZ7HOHIOH[%%UDXQ&RYLGLHQ0HGFRPS
$YDLODEOHGLUHFW$QJLR'\QDPLFV$UURZ7HOHIOH[%DUG$FFHVV%DUG3HULSKHUDO%%UDXQ
&RYLGLHQ SHUFHQWGLUHFWRUGHUIHH 0HGFRPS
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
x
3DWLHQW6FDOHV0HGLFDOVFDOHVDQGSDWLHQWZHLJKLQJV\VWHPV
&HQWUDO9HQRXV$FFHVV3URGXFWV&HQWUDOYHQRXVDFFHVVFDWKHWHUVVKHDWKVGLODWRUVDQGNLWV
3,&&DQG0LGOLQH$FFHVV3URGXFWV3HULSKHUDOO\LQVHUWHGFHQWUDOYHQRXVFDWKHWHUV 3,&&V DQGPLGOLQH
FDWKHWHUVDQGVXSSOLHV
9DVFXODU*UDIWV6\QWKHWLFLPSODQWVWKDWDUHXVHGWRUHSDLUDYDVFXODUGHIHFWWKDWSURYLGHVEORRGIORZRUDFWVDVD
FRQGXLWIRUKHPRGLDO\VLV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
'LJLWDO:RXQG0DQDJHPHQW6\VWHPV
(IIHFWLYH0DUFKWKURXJK)HEUXDU\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVLVDnew3UHPLHUFDWHJRU\7KLVFDWHJRU\LQFOXGHVV\VWHPVWKDWXVH
GLJLWDOWKHUDSLHVUHPRWHLPDJHU\DQGGDWDDFTXLVLWLRQPDQDJHPHQW
V\VWHPVIRUPHDVXUHPHQWLPDJLQJDQGGRFXPHQWDWLRQWKURXJKLQWHJUDWLRQ
RIWKHHOHFWURQLFPHGLFDOUHFRUGVRIWZDUHWRGHOLYHUFOLQLFDODQGHFRQRPLF
EHQHILWVWRKHDOWKFDUHSURYLGHUVFDULQJIRUSDWLHQWVZLWKDFXWHFKURQLF
ZRXQGV
'LJLWDO:RXQG0DQDJHPHQW6\VWHPV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
3316
1HZ
3316
1HZ
3316
1HZ
3316
1HZ
3316
1HZ
3316
1HZ
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVQRWUHTXLUHGZLWKWKHVXSSOLHUVGXHWRVLQJOH
WLHURIIHULQJV
$OOVXSSOLHUVUHTXLUHDVHSDUDWHPHPEHUDJUHHPHQW
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWKDOOVXSSOLHUV
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQ
KHDOWKFDUHIDFLOLWLHV
&DUH3,&6DQG:RXQG0DWUL[DUHVPDOOEXVLQHVV
HQWHUSULVH 6%(V $6&(1'7KHUHLVQR$6&(1'DZDUGLQWKLV
FDWHJRU\
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOV
x &DUH3,&6¶DJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWROLVWSULFLQJ
x H.DUH¶VDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWROLVWSULFLQJ
x 6ZLIW0HGLFDO¶VDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWROLVWSULFLQJ
x 7LVVXH$QDO\WLFV¶DJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWROLVWSULFLQJ
x :RXQG0DWUL[¶VDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWROLVWSULFLQJ
x :RXQG9LVLRQ¶VDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWROLVWSULFLQJ
x %DVHGRQDEHGKRVSLWDOVFHQDULRDQDO\VLVH.DUHLVWKHORZFRVWVXSSOLHU
$OOVXSSOLHUVRIIHUDQHDUO\SD\PHQWGLVFRXQW
$OOVXSSOLHUVRIIHUSURGXFWVGLUHFW
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
x
x
x
x
&DUH3,&6//&5REHUWVRQ:LOOLDPVUREHUWVRQZLOOLDPV#FDUHSLFVFRP
H.DUH,QF.\OH:XNZX#HNDUHLQFFRP
6ZLIW0HGLFDO,QF0HOLVVD$OYDUHVPHOLVVD#VZLIWPHGLFDOFRP
7LVVXH$QDO\WLFV,QF.HYLQ.HHQDKDQNHYLQ#WLVVXHDQDO\WLFVFRP
:RXQG0DWUL[,QF&DURO\Q'HVKRQJFGHVKRQJ#ZRXQGU[FRP
:RXQG9LVLRQ//&1LFN0F0XUUD\QLFNPFPXUUD\#ZRXQGYLVLRQFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
'LJLWDO:RXQG0DQDJHPHQW6\VWHPV
(IIHFWLYH0DUFKWKURXJK)HEUXDU\
5HODWHGFDWHJRULHV
x
x
x
x
x
x
x
/RZ)UHTXHQF\8OWUDVRQLF:RXQG7KHUDS\1RQFRQWDFWORZIUHTXHQF\XOWUDVRXQGWKHUDS\WKDWLVLQGLFDWHG
WRSURPRWHZRXQGKHDOLQJXVLQJVRXQGZDYHVWRPHFKDQLFDOO\VWLPXODWHFHOOV
1HJDWLYH3UHVVXUH:RXQG7KHUDS\7UHDWPHQWV\VWHPVGHVLJQHGWRIDFLOLWDWHKHDOLQJRIZRXQGVZLWKQHJDWLYH
SUHVVXUHWRWKHZRXQGVLWH
5HJHQHUDWLYH6NLQ*UDIWLQJ3URGXFWV5HJHQHUDWLYHSURGXFWVDUHXVHGIRUWKHJUDIWLQJRIIXOORUSDUWLDODFXWHDQG
FKURQLFZRXQGVWKDWDUHQRWKHDOLQJGHVSLWHWUHDWPHQWZLWKFRQYHQWLRQDOWKHUDSLHV
6NLQ%UHDNGRZQ3UHYHQWLRQ3URGXFWV+HHOSURWHFWRUVSURWHFWLYHERRWVHOERZSURWHFWRUVEHGSRVLWLRQHUVWXUQDQG
SRVLWLRQV\VWHPVZKHHOFKDLUFXVKLRQVDQGIRRWGURSSUHYHQWLRQDLGV
6NLQ,QWHJULW\&RPSUHVVLRQ:UDSV0XOWLOD\HUFRPSUHVVLRQWRWDOFRQWDFWFDVWLQJDQGXQQDERRWV
6NLQ,QWHJULW\3ULPDU\6HFRQGDU\:RXQG&DUH'UHVVLQJVDQG:RXQG'HEULGHPHQW3ULPDU\GUHVVLQJVWKDWFRPHLQ
GLUHFWFRQWDFWZLWKZRXQGEHGVHFRQGDU\GUHVVLQJZKLFKDUHXVHGWRFRYHUDSULPDU\GUHVVLQJZKHQWKHGUHVVLQJGRHV
QRWSURWHFWWKHZRXQGIURPFRQWDPLQDWLRQRFFOXVLYHDQGVHPLRFFOXVLYHGUHVVLQJV
6NLQ,QWHJULW\6NLQ&OHDQVHU%DUULHUDQG/RWLRQ3URGXFWV3URGXFWVXVHGRQDSDWLHQWWRLPSURYHPDLQWDLQSURWHFWDQG
SURPRWHKHDOLQJRIWKHSDWLHQW¶VGHUPDODQGHSLGHUPDOVNLQ
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLV
GRFXPHQWLVXQDEOHWREHHGLWHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
'LVLQIHFWLRQ&DSV
6HSWHPEHU
([SLUHV$XJXVW
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHU
7KLVFDWHJRU\LQFOXGHVDOFRKROEDVHGGLVLQIHFWLRQFDSVXVHGWR
GLVLQIHFWWKHKXERIWKHYDOYHV$GLVLQIHFWLRQFDSFRYHUVWKH
QHHGOHOHVVFRQQHFWRUDQGSURWHFWVLWIURPWRXFKDQGDLUERUQH
FRQWDPLQDWLRQDIWHULW¶VEHHQDSSOLHG
6XSSOLHU
&ODVVRIWUDGH
x
x
0
,&80HGLFDOLVDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
0LVDYDLODEOHWRDFXWHFDUHDQGQRQDFXWHKHDOWKFDUH
PHPEHUVRQO\
5RGJHU5DWOLII
UGUDWOLII#PPPFRP
,&8
0DUN
PMRUJHQVHQ#LFXPHGFRP
0HGLFDO
-RUJHQVHQ
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0D\)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHU
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQG
HVWDEOLVKHGQHWZRUNVZLWKERWKVXSSOLHUV
0UHTXLUHVIDFLOLWLHVWRLQGHSHQGHQWO\FRPPLWWRWKH
SDUWLFLSDWLRQUHTXLUHGE\WKHWLHU
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
1HZ
([SLULQJ
3316
$616
3316
$616
3316
1HZ
0DFTXLUHG,YHUDLQ0DUFK
,&80HGLFDODFTXLUHG([FHOVLRULQ2FWREHU
)LQDQFLDOFRQVLGHUDWLRQV
x 7KHFRVWRIDQDOFRKROVZDEYV
GLVLQIHFWLRQFDS
x /RZHUFRVWRIFDUHDQGOHQJWKRIVWD\
DWWULEXWHGWRORZHULQIHFWLRQUDWHV
x *UDQGIDWKHULQJ
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x &/$6%,JXLGHOLQHV
x &RPSDWLELOLW\ZLWKQHHGOHOHVVFRQQHFWRUV
x &OLQLFDOFRPSOLDQFHZLWKSURWRFRO
x .LOOWLPHV
x &RORUVDYDLODEOH
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
3ULFLQJLVILUPIRUWKHWHUPRIERWKDJUHHPHQWV
0RIIHUVSHUFHQWVDYLQJVRYHUDOOIRU&XURVFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
,IPHPEHUVFDQFRQYHUWSHUFHQWRI&XURVVSHQGWRWKHQHZ-HWFDS0RIIHUVSHUFHQWVDYLQJVRYHUDOO
FRPSDUHGWRWKHH[SLULQJDJUHHPHQW
,&80HGLFDOLVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ0DQG,&80HGLFDO
$YDLODEOHWKURXJKGLUHFW,&80HGLFDO
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
'LVLQIHFWLRQ&DSV
6HSWHPEHU
([SLUHV$XJXVW
5HODWHGFDWHJRULHV
x
x
&HQWUDO9HQRXV$FFHVV3URGXFWV&HQWUDOYHQRXVDFFHVVFDWKHWHUVVKHDWKVGLODWRUVDQGNLWV
1HHGOHOHVV&RQQHFWRUV'HYLFHVGHVLJQHGWRDOORZFRQQHFWLRQRIPXOWLSOH,9VHWVDQGFDWKHWHUKXEV
ZLWKRXWWKHXVHRIQHHGOHV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
'LVSRVDEOH/DERUDQG'HOLYHU\3URGXFWV
(IIHFWLYH6HSWHPEHU
([SLUHV$XJXVW
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVGLVSRVDEOHXQGHUJDUPHQWVGHOLYHU\NLWV
FLUFXPFLVLRQHTXLSPHQWVXSSOLHV2%SDGVDPQLRWLFKRRNVEDE\
JDUPHQWVXPELOLFDOFRUGEORRGFODPSVFROOHFWLRQNLWVDQGRWKHULWHPV
UHTXLUHGDWWKHWLPHRIWKHGHOLYHU\DQGELUWKLQJSURFHVV
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
&ODVVRIWUDGH
x
x
'H5R\DO(0(.HUPDDQG66*OREDODUHDYDLODEOHWRDFXWH
FDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
&RYLGLHQLVDYDLODEOHWRVHOHFWDFXWHFDUHQRQDFXWH
KHDOWKFDUHDQGHGXFDWLRQIDFLOLWLHV6HH$SSHQGL[$LQWKH
YDOXHDQDO\VLVWRRONLWIRUGHWDLOV
*UHJ
JUHJMJRRGDOO#PHGWURQLFFRP
*RRGDOO
0DWW
'H5R\DO
PVSDOGLQJ#GHUR\DOFRP
6SDOGLQJ
9LQFHQW
(0(
YDEDGLH#HPHFRPSDQ\FRP
$EDGLH
7DPP\
.HUPD
WZLOOLDPV#NHUPDPHGLFDOFRP
:LOOLDPV
66
&KULV
FKULVBPFFDZ#SUHPLHULQFFRP
*OREDO
0F&DZ
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$XJXVW)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
&RYLGLHQ
33:&
$6:&
3316
33:&
3316
33:&
3316
33:&
([SLULQJ
3316
$616
3316
$616
1HZ
(0(LVDVPDOOEXVLQHVVHQWHUSULVH 6%( .HUPDLVDPLQRULW\RZQHGEXVLQHVV 0%( &XUUHQWDJUHHPHQWVZLWK'LYHUJHQW 33:&
DQG/6/ 33:& H[SLUH$XJXVW
$6&(1'7KLVFDWHJRU\KDVEHHQ
GHVLJQDWHGDV5LGJH9LVLWWKH$6&(1'SRUWDO
IRU$6&(1'ODXQFKPDWHULDOV
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') SULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHUZLWKDOO
VXSSOLHUV
&RYLGLHQUHTXLUHVD3ULPDU\*URXS'HVLJQDWLRQ)RUP 3*') IRUPHPEHUVZKRGRQRWKDYHD3*')RQILOH
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRI
IDFLOLWLHVZLWK'H5R\DO(0(.HUPDDQG66*OREDO
&RYLGLHQDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVZLWKWKHDELOLW\WRLQIOXHQFH
SXUFKDVLQJGHFLVLRQV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWK'H5R\DO(0(.HUPDDQG66*OREDO
x &RYLGLHQSULFLQJLVILUPIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWRQDOLQHLWHPEDVLV
IRUHDFKSHUFHQWLQFUHDVHLQDJJUHJDWHFRVW
&RYLGLHQRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
'H5R\DORIIHUVIODWSULFLQJRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
(0(RIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
.HUPDRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
66*OREDOLVWKHORZFRVWVXSSOLHUIRUWKRVHVXSSOLHUVZLWKPRUHWKDQSHUFHQWRIFURVVHGVSHQG
$YDLODEOHWKURXJKGLVWULEXWLRQ&RYLGLHQ'H5R\DO(0(.HUPDDQG66*OREDO
$YDLODEOHGLUHFW&RYLGLHQ GLUHFWRUGHUIHH 'H5R\DO(0(DQG66*OREDO FRQWDLQHUVKLSPHQWVRQO\ 1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
'LVSRVDEOH/DERUDQG'HOLYHU\3URGXFWV
(IIHFWLYH6HSWHPEHU
([SLUHV$XJXVW
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x )HWDO0RQLWRULQJ0RQLWRULQJHTXLSPHQWSURYLGHVFRQWLQXRXVEHGVLGHPRQLWRULQJRIDQWHSDUWXPDQGLQWUDSDUWXP
SDUDPHWHUVWRDVVLVWFOLQLFLDQVZLWKDGGLWLRQDOLQIRUPDWLRQDERXWWKHIHWDODQGPDWHUQDOSK\VLRORJLFFRQGLWLRQV
x ,QFRQWLQHQFH3URGXFWV%ULHIVXQGHUSDGVZLSHVFRQWUROSDGVPHVKSDQWLHVDQGXQGHUJDUPHQWVXVHGIRU
PRGHUDWHWRVHYHUHXULQDU\RXWSXWDQGORVVRIERZHOFRQWURO
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
'LVSRVDEOH1RQ6WHULOH3URWHFWLYH$SSDUHO(IIHFWLYH'HFHPEHU
([SLUHV1RYHPEHU
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KHFDWHJRU\FRQVLVWVRIQRQVWHULOHGLVSRVDEOHJRZQVVFUXEVXLWV
FRYHUDOOVDSURQVODEFRDWVDQGMDFNHWVKHDGJHDUDQGFDSVDQG
VKRHFRYHUV
6XSSOLHU
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
&DUGLQDO
+HDOWK
GDQLHOFODUN#FDUGLQDOKHDOWK
FRP
WRPVZHDWW#HQFRPSDVVJUR
XSQHW
'DQ&ODUN
(QFRPSDVV
7RP6ZHDWW
+DO\DUG
+HDOWK
-DQLV+DUYH\
MDQLVKDUYH\#K\KFRP
,&3
/L]0DF/HRG
OPDFOHRG#LFSPHGLFDOFRP
0HGOLQH
0DUN3DUU\
PSDUU\#PHGOLQHFRP
7URQH[
(GPXQG7DL
[
HWDL#WURQH[FRPSDQ\FRP
:HOPHG
'HQQ\:ULJKW
GHQQ\ZULJKW#ZHOPHGXV
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHUZLWKDOOVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
1HZ
([SLULQJ
3316
3316
3316
1HZ
3316
3316
3316
1HZ
3316
3316
336-
3316
$66-
3316 3316
3316
1HZ
1RWH(QFRPSDVVDQG:HOPHGDUHVPDOO
EXVLQHVVHV 6%( DQG7URQH[LVPLQRULW\RZQHG
0%( 66RIIHUVJRZQVFRYHUDOOVVFUXEVFRDWVVKRH
FRYHUVDQGFDSV6HHWKH3UHPLHU3URSURGXFWV
ODXQFKGRFXPHQWIRUGHWDLOV
)LQDQFLDOFRQVLGHUDWLRQV
x 9DOXHDGGV
x (DUO\SD\PHQWGLVFRXQWV
x 0LQLPXPRUGHUV
8VHUVDIHW\DQGVDWLVIDFWLRQ
x $$0,OHYHORIIHULQJV
x 6L]HVDYDLODEOH
x &RYHUDJHRSWLRQV
3ULFLQJLVILUPIRUWKHWHUPZLWKDOOVXSSOLHUV
5RDGEORFNVWRFRQYHUVLRQ
&DUGLQDO¶VQHZDJUHHPHQWRIIHUVDQSHUFHQWVDYLQJV
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
RYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
x &OLQLFDOSUHIHUHQFH
+DO\DUG¶VQHZDJUHHPHQWRIIHUVIODWSULFLQJRYHUDOOFRPSDUHG
WRWKHH[SLULQJDJUHHPHQW
,&3RIIHUVYDOXHDGGVLQFOXGLQJPXOWLFDWHJRU\GLUHFWVKLSPHQWDQGODUJHRUGHULQFHQWLYHV
0HGOLQH¶VQHZDJUHHPHQWRIIHUVIODWSULFLQJRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
7URQH[¶VQHZDJUHHPHQWRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
7URQH[LVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ&DUGLQDO(QFRPSDVV+DO\DUG,&30HGOLQH7URQH[:HOPHG
$YDLODEOHGLUHFW(QFRPSDVV,&30HGOLQH7URQH[:HOPHG
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
'LVSRVDEOH1RQ6WHULOH3URWHFWLYH$SSDUHO(IIHFWLYH'HFHPEHU
([SLUHV1RYHPEHU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EH
EURNHQ7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
x
x
([DP*ORYHV([DPJORYHVXVHGWRSURYLGHEDUULHUSURWHFWLRQIURPH[SRVXUHWREORRGRUERGLO\IOXLGV
5HXVDEOH7H[WLOHVDQG6HUYLFHV$SSDUHOUREHVVXUJLFDOWH[WLOHVHWF
6WHULOH3DFNVDQG*RZQV6WDQGDUGL]HGGUDSHVDQGJRZQVXVHGGXULQJVXUJLFDOSURFHGXUHV
6XUJLFDODQG,VRODWLRQ0DVNV0DVNVXVHGDVSURWHFWLYHDWWLUHFRYHULQJWKHPRXWKDQGQRVH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
(&*(OHFWURGHV&DEOHV/HDG:LUHVDQG'HILEULOODWRU3DGV(IIHFWLYH2FWREHU
([SLUHV6HSWHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVQRQFDSLWDOHOHFWURFDUGLRORJ\ (&* VHQVRUV
DQGDFFHVVRULHVXVHGLQFDUGLRORJ\UHODWHGSK\VLRORJLFDOWUDFLQJV
PHDQWWRGHWHFWDQGUHOD\LQIRUPDWLRQWR(&*PRQLWRUV HJ(&*
HOHFWURGHV(&*DVVRFLDWHGFDEOHVDQGOHDGZLUHVDQG
HOHFWURSK\VLRORJ\UHODWHGGHILEULOODWRUSDGV &ODVVRIWUDGH
x
x
$GYDQWDJH0HGLFDO/LIH6\QFLVDYDLODEOHWRDFXWHFDUHQRQ
DFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
&RYLGLHQLVDYDLODEOHWRVHOHFWDFXWHFDUHQRQDFXWH
KHDOWKFDUHDQGHGXFDWLRQIDFLOLWLHV6HH$SSHQGL[$LQWKH
YDOXHDQDO\VLVWRRONLWIRUGHWDLOV
$GYDQWDJH
0HGLFDO
/LIH6\QF
=DFKDU\
:XQVFK
]ZXQVFK#DGYDQWDJHPHGFRP
&RYLGLHQ
*UHJ
*RRGDOO
JUHJMJRRGDOO#PHGWURQLFFRP
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316 3316
3316 3316
$616 $616
$GYDQWDJH0HGLFDO/LIH6\QFLVDVPDOOEXVLQHVV
HQWHUSULVH 6%( 7KHFXUUHQWDJUHHPHQWVZLWK0HG'\QH 33
16 DQG9HUPHG 3316 H[SLUH
6HSWHPEHU
$6&(1'7KLVFDWHJRU\KDVEHHQ
GHVLJQDWHGDV%DVH9LVLWWKH$6&(1'SRUWDO
IRU$6&(1'ODXQFKPDWHULDOV
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-XO\)RUXSWRGDWH
FRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURU
KLJKHUZLWKERWKVXSSOLHUV
&RYLGLHQUHTXLUHVD3ULPDU\*URXS'HVLJQDWLRQ)RUP 3*') IRUPHPEHUVZKRGRQRWKDYHD3*')RQILOH
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$GYDQWDJH0HGLFDO/LIH6\QFDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQG
HVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
&RYLGLHQDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVZLWKWKHDELOLW\WRLQIOXHQFH
SXUFKDVLQJGHFLVLRQV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKERWKVXSSOLHUV
$GYDQWDJH0HGLFDO/LIH6\QFRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
$GYDQWDJH0HGLFDO/LIHV\QFRIIHUVDFRQYHUVLRQLQFHQWLYHDQGYROXPHUHEDWH6HHWKHYDOXHDGGVVHFWLRQ
LQWKHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
&RYLGLHQRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RYLGLHQRIIHUVDTXLFNVWDUWUHEDWH6HHWKHYDOXHDGGVVHFWLRQLQWKHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
&RYLGLHQKDVDIHHIRURUGHUVOHVVWKDQ
$YDLODEOHWKURXJKGLVWULEXWLRQ$GYDQWDJH0HGLFDO/LIH6\QFDQG&RYLGLHQ
$YDLODEOHGLUHFW$GYDQWDJH0HGLFDO/LIH6\QFDQG&RYLGLHQ GLUHFWRUGHUIHH 1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
(&*(OHFWURGHV&DEOHV/HDG:LUHVDQG'HILEULOODWRU3DGV(IIHFWLYH2FWREHU
([SLUHV6HSWHPEHU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
&KDUW3DSHUDQG5HODWHG3URGXFWV0HGLFDOFKDUWSDSHUIRUFDUGLRORJ\ (&* PRQLWRULQJ IHWDODQG
SK\VLRORJLFDO GHILEULOODWRUQHXURORJ\SKDUPDF\ODEDQGYLGHRLPDJLQJ
([WHUQDO'HILEULOODWRUVDQG5HODWHG3URGXFWV0DQXDOH[WHUQDOGHILEULOODWRUVDQGDXWRPDWHGH[WHUQDO
GHILEULOODWRUV $('V QRQGLVSRVDEOHFDEOHVDQGOHDGVSURSULHWDU\GLVSHUVLYHSDGVEDWWHULHVVWRUDJH
FDVHVDQGFDUGLRSXOPRQDU\UHVXVFLWDWLRQ &35 GHYLFHV
3K\VLRORJLFDO0RQLWRULQJ6\VWHPV0RQLWRULQJV\VWHPVIRUSK\VLRORJLFSDUDPHWHUVVXFKDVUHVSLUDWRU\
UDWHERG\WHPSHUDWXUHQRQLQYDVLYHEORRGSUHVVXUHDQGLQYDVLYHEORRGSUHVVXUH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
(OHFWURQLF7KHUPRPHWU\(IIHFWLYH-XQH
([SLUHV0D\
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVSDWLHQWWKHUPRPHWHUVIRUFOLQLFDOXVHWKDW
PHDVXUHWHPSHUDWXUHVZLWKLQDPLQLPXPUDQJHRIWR)
WR& DVZHOODVXQLWVWKDWSURYLGHVSHFLDOL]HGSUREHVIRU
FRQWLQXRXVPRQLWRULQJ
6XSSOLHU
&ODVVRIWUDGH
x
x
&RYLGLHQLVDYDLODEOHWRVHOHFWDFXWHFDUHQRQDFXWH
KHDOWKFDUHDQGHGXFDWLRQIDFLOLWLHV
:HOFK$OO\QLVDYDLODEOHWRVHOHFWDFXWHFDUHDQGQRQDFXWH
KHDOWKFDUHIDFLOLWLHV
*UHJ
JUHJMJRRGDOO#PHGWURQLF
*RRGDOO
FRP
:HOFK
5LFN
ULFNKROPHV#KLOOURPFRP
$OO\Q
+ROPHV
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0DUFK)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
&RYLGLHQ
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHUZLWKERWK
VXSSOLHUV
&RYLGLHQUHTXLUHVD3ULPDU\*URXS'HVLJQDWLRQ)RUP 3*') IRUWKRVHPHPEHUVZKRGRQRWKDYHD3*')RQILOH
1HZ
([SLULQJ
3316
3316
3316
$616
3316
$616
)LQDQFLDOFRQVLGHUDWLRQV
x 0DLQWHQDQFHDQGFDOLEUDWLRQFRVWV
x 3UREHFRYHUVDUHWKHPDMRULW\RI
WKHFDWHJRU\VSHQG
x 9DOXHDGGVHJUHEDWHV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 6SHHGDQGDFFXUDF\RI
WHPSHUDWXUHUHDGLQJV
x &OHDQLQJSURWRFROV
x 3DWLHQWSRSXODWLRQ LHLQIDQW
SHGLDWULFDGXOW 5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x 3UREHFRYHUVDUHSURSULHWDU\
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
&RYLGLHQDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWKWKHDELOLW\
WRLQIOXHQFHGHFLVLRQV
:HOFK$OO\QDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGWKHLURZQHGRUFRQWUROOHGIDFLOLWLHV2QO\
DFXWHFDUHPHPEHUVPD\DJJUHJDWHWKHYROXPHRIWKHLURZQHGRUFRQWUROOHGIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
&RYLGLHQLVILUPIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWRQDOLQHLWHPEDVLVIRU
HDFKSHUFHQWLQFUHDVHLQDJJUHJDWHFRVW
&RYLGLHQ¶VQHZDJUHHPHQWRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RYLGLHQRIIHUVDSHUFHQWTXLFNVWDUWLQFHQWLYHUHEDWH
:HOFK$OO\QSULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQW
:HOFK$OO\Q¶VQHZDJUHHPHQWRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
:HOFK$OO\QLVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ&RYLGLHQDQG:HOFK$OO\Q
$YDLODEOHGLUHFW&RYLGLHQ GLUHFWRUGHUIHH 1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
(OHFWURQLF7KHUPRPHWU\(IIHFWLYH-XQH
([SLUHV0D\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EH
EURNHQ
x 3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
x 3URGXFWFURVVUHIHUHQFH $Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRU\
x 6LQJOHXVH7KHUPRPHWHUV'LVSRVDEOHVLQJOHXVHWKHUPRPHWHUVIRUERWKWKHDGXOWDQGSHGLDWULFSRSXODWLRQV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
(QWHURVWRPDO7KHUDS\3URGXFWV (IIHFWLYH-DQXDU\
([SLUHV0DUFK
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVSURGXFWVXVHGLQWKHWUHDWPHQWRISDWLHQWVZLWK
VXUJLFDOO\FRQVWUXFWHGFRQQHFWLRQVEHWZHHQWKHODUJHDQGVPDOO
LQWHVWLQHV FRORQDQGLOHXP RUEHWZHHQWKHXULQDU\WUDFW EODGGHU
XUHWKUDXUHWHUV DQGWKHVNLQWRSHUPLWWKHUHPRYDORIJDVWURLQWHVWLQDO
DQGXULQDU\ZDVWHSURGXFWVIURPWKHERG\
6XSSOLHU
1HZ
3316
3316
$616
([SLULQJ
3316
$616
3316
&ODVVRIWUDGH
x
&RQYD7HFLVDYDLODEOHWRDFXWHFDUHKRVSLFHKRPHKHDOWK
DJHQFLHVORQJWHUPFDUHFORVHGGRRUSKDUPDFLHVVNLOOHG
QXUVLQJIDFLOLWLHVDQG'0(VXSSOLHUV
x +ROOLVWHULVDYDLODEOHWRVHOHFWDFXWHFDUHDQGQRQDFXWH
KHDOWKFDUHIDFLOLWLHV6HHYDOXHDQDO\VLVWRRONLWIRUVSHFLILF
FODVVRIWUDGHUHVWULFWLRQV
&RQYD7HF
.HLWK
5REHUWV
NHLWKUREHUWV#FRQYDWHFFRP
OLVDFODUNH#KROOLVWHUFRP
[
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-XQH)RUXSWRGDWH
FRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+ROOLVWHU
/LVD&ODUNH
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x )UHTXHQF\RIFKDQJLQJSRXFKHV DQG
WKHDVVRFLDWHGFRVW
x 9DOXHDGGVHJUHEDWHV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 6NLQEUHDNGRZQFRQFHUQV
x 2GRUFRQWURO
x 3DWLHQW¶VDELOLW\WRFKDQJHSRXFKDQG
DYDLODEOHHGXFDWLRQ
x 3DWLHQWFRPIRUW
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x &ODVVRIWUDGHUHVWULFWLRQV
x (QGXVHUSUHIHUHQFH
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHURUKLJKHUZLWK+ROOLVWHU
&RQYD7HFUHTXLUHV3$30')DWDOOWLHUV'0(PHPEHUVPXVW
LQGLYLGXDOO\3$30')WKH'0(WLHU ([KLELW$ 6LJQHG30')VPXVWEHDWWDFKHGWR'0(SULFHDFWLYDWLRQV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
&RQYD7HFDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\,'1VZLWKWKHDELOLW\WRPDNHSXUFKDVLQJGHFLVLRQVIRUWKHLURZQHG
OHDVHGRUPDQDJHG 2/0 IDFLOLWLHV
x $JJUHJDWLRQLVDOORZHGIRUQRQ2/0DIILOLDWHVDVDVWDQGDORQHJURXSDVLGHIURP2/0V1RQ2/0DIILOLDWH
JURXSVPXVWVXEPLWDVHSDUDWHSULFHDFWLYDWLRQ
+ROOLVWHUDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPV*32VDQGHVWDEOLVKHGQHWZRUNV+ROOLVWHUUHTXLUHV
DJJUHJDWLQJIDFLOLWLHVWRFRPPLWSHUFHQWPDUNHWVKDUH
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKERWKVXSSOLHUV
3URGXFWVSXUFKDVHGXQGHUWKHVHDJUHHPHQWVDUHIRUPHPEHUV¶³RZQXVH´DQGPD\QRWEHUHVROG
&RQYD7HFRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
+ROOLVWHURIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
+ROOLVWHURIIHUVDFRQYHUVLRQUHEDWHDQGDQHQWHURVWRPDOWKHUDS\FXVWRPHUUHEDWH
+ROOLVWHULVWKHRYHUDOOZHLJKWHGORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ&RQYD7HFDQG+ROOLVWHU
$YDLODEOHGLUHFW+ROOLVWHU
1RWH)LQDQFLDODQDO\VLVDQGSULFLQJLQIRUPDWLRQDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
(QWHURVWRPDO7KHUDS\3URGXFWV (IIHFWLYH-DQXDU\
([SLUHV0DUFK
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUFXVWRPL]DWLRQIRUPHPEHU
VSHFLILFQHHGV7KHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7RPDLQWDLQOLQNLQWHJULW\
SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVDOVRLQFOXGHG
5HODWHGFDWHJRU\
x
%RZHO0DQDJHPHQW3URGXFWVVSHFLILFDOO\GHVLJQHGWRVDIHO\DQGUHOLDEO\GLYHUWFROOHFWRUFRQWDLQQRQ
VXUJLFDOO\LQGXFHGJDVWURLQWHVWLQDOZDVWHFUHDWHGE\EHGULGGHQLPPRELOL]HGRUFULWLFDOO\LOOSDWLHQWVLQ
KRVSLWDOVQXUVLQJKRPHVUHKDELOLWDWLRQFHQWHUVRUKRPHKHDOWK
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
([DP*ORYHV(IIHFWLYH0D\
([SLUHV$SULO
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVQRQVWHULOHH[DPLQDWLRQJORYHVZKLFKDUH
URXWLQHO\XVHGWRSURYLGHEDUULHUSURWHFWLRQDQGSUHYHQWVNLQDQG
PXFRXVPHPEUDQHH[SRVXUHZKHQLQFRQWDFWZLWKEORRGRURWKHUERG\
IOXLGVRIDQ\SDWLHQW
6XSSOLHU
1HZ
([SLULQJ
3316 3316
3316 3316
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUVZLWKVRPHH[FOXVLRQV6HHYDOXH
DQDO\VLVWRRONLWIRUPRUHLQIRUPDWLRQ
3316 3316
3316 3316
&DUGLQDO
'DQ&ODUN
GDQLHOFODUN#FDUGLQDOKHDOWKFRP
3316 3316
+DO\DUG
-DQLV
+DUYH\
MDQLVKDUYH\#K\KFRP
,+&
0DUN5HLEHU
PUHLEHU#LKFVROXWLRQVFRP
336,
3316
$66,
0HGJOXY
-HUU\/HRQJ
MOHRQJ#PHGJOXYFRP
0HGOLQH
0DUN3DUU\
PSDUU\#PHGOLQHFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-DQXDU\)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RU
HOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHURUKLJKHU
ZLWKDOOVXSSOLHUVH[FHSW0HGJOXY
0HGJOXYRIIHUVDVLQJOHWLHUZKHUH30')3$LVQRWUHTXLUHG
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQG
HVWDEOLVKHGQHWZRUNVIRU&DUGLQDO+DO\DUG,+&DQG0HGOLQH
0HGJOXYRIIHUVDVLQJOHWLHUZKHUHDJJUHJDWLRQLVQRWDSSOLFDEOH
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
1RWH,+&LVDYHWHUDQRZQHGEXVLQHVV 9(7 DQG
0HGJOXYLVDPLQRULW\RZQHGEXVLQHVV 0%( &XUUHQWDJUHHPHQWVZLWK$QVHOO 3316 6HPSHUPHG 3316 DQG7URQH[ 3316 H[SLUH$SULO
)LQDQFLDOFRQVLGHUDWLRQV
x &RVWRIJORYHGLVSHQVHUFRQYHUVLRQV
x 1LWULOHYHUVXVYLQ\OJORYHV
3DWLHQWHPSOR\HHVDIHW\DQGVDWLVIDFWLRQ
x $$0,OHYHORIIHULQJV
x 6L]HVDYDLODEOH
x &RORUVDYDLODEOH
x 3DWLHQWDQGFOLQLFLDQDOOHUJLHV HJ
ODWH[ x &KHPRWKHUDS\XVDJH±
FKHPRWKHUDS\UDWHGYVWHVWHG
5RDGEORFNVWRFRQYHUVLRQ
3ULFLQJLVILUPIRUWKHWHUPZLWKDOOVXSSOLHUV
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
&DUGLQDORIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKH
x 6RPHJORYHVDUHSURSULHWDU\WR
H[SLULQJDJUHHPHQW
GLVSHQVHUV
+DO\DUGRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKH
x &OLQLFDOSUHIHUHQFH
H[SLULQJDJUHHPHQW
,+&RIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0HGJOXYRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0HGOLQHRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0HGJOXYLVWKHRYHUDOOORZFRVWVXSSOLHU
$YDLODEOHWKURXJKGLVWULEXWLRQ&DUGLQDO+DO\DUG,+&0HGJOXYDQG0HGOLQH
$YDLODEOHGLUHFW+DO\DUG,+&0HGJOXYDQG0HGOLQH
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
([DP*ORYHV(IIHFWLYH0D\
([SLUHV$SULO
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EH
EURNHQ7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
([DPJORYHVSHFLILFDWLRQV$Q([FHOVSUHDGVKHHWGHWDLOLQJVSHFLILFDWLRQVE\VXSSOLHUE\JORYHIRUSURGXFW
FRPSDULVRQ
5HODWHGFDWHJRULHV
x
x
'LVSRVDEOH1RQVWHULOH3URWHFWLYH$SSDUHO1RQVWHULOHGLVSRVDEOHJRZQVVFUXEVXLWVFRYHUDOOVDSURQVODE
FRDWVDQGMDFNHWVKHDGJHDUDQGFDSVDQGVKRHFRYHUV
6XUJHRQ*ORYHV6WHULOHJORYHVXVHGE\WKHVXUJLFDOVFUXEWHDPWRSURYLGHVWHULOHSURWHFWLRQWRVXUJLFDOVWDII
DQGSDWLHQWV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
)DOO0DQDJHPHQW)RRWZHDU (IIHFWLYH$XJXVW
([SLUHV-XO\
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVVOLSSHUVXVHGRQSDWLHQWVLQDFXWHDQGQRQ
DFXWHIDFLOLWLHVWRSUHYHQWIDOOV7KHVHLQFOXGHVNLGVDQGWUHDGVWKDW
DUHVLQJOHVLGHGRUGXDOVLGHGDVZHOODVFRORUFRGHGWKDWDUHXVHG
IRUSDWLHQWVZKLOHLQWKHKRVSLWDOVHWWLQJ
6XSSOLHU
3316 3316
&ODVVRIWUDGH
x
$JUHHPHQWVZLWK(QFRPSDVVDQG66*OREDODUHDYDLODEOH
WRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUH
IDFLOLWLHV
&DUGLQDOLVDYDLODEOHWRVHOHFWDFXWHFDUHDQGQRQDFXWH
KHDOWKFDUHIDFLOLWLHV6HHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
)UDQ
IUDQPFFRUPLFN#FDUGLQDOKH
DOWKFRP
0F&RUPLFN
7RP
WRPVZHDWW#HQFRPSDVVJUR
(QFRPSDVV
XSQHW
6ZHDWW
&KULV
FKULVBPFFDZ#SUHPLHULQFF
66*OREDO
RP
0F&DZ
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$XJXVW)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
&DUGLQDO
([SLULQJ
3316 3316
x
1HZ
3316 336+
$616 $66+
(QFRPSDVVLVDVPDOOEXVLQHVV 6%( 7KHFXUUHQWDJUHHPHQWZLWK/6/ 3316 H[SLUHV-XO\
$6&(1'7KLVFDWHJRU\KDVEHHQGHVLJQDWHG
DV%DVH9LVLWWKH$6&(1'SRUWDOIRU
$6&(1'ODXQFKPDWHULDOV
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKDOO
VXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
ZLWKDOOVXSSOLHUV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
&DUGLQDO¶VQHZDJUHHPHQWRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
(QFRPSDVV¶QHZDJUHHPHQWRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
(QFRPSDVVRIIHUVDFRQYHUVLRQUHEDWH6HHYDOXHDGGVVHFWLRQLQWKHYDOXHDQDO\VLVIRUGHWDLOV
66¶VQHZDJUHHPHQWRIIHUVIODWSULFLQJFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
(QFRPSDVVLVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ&DUGLQDO(QFRPSDVV66*OREDO
$YDLODEOHGLUHFW(QFRPSDVV66*OREDO FRQWDLQHUVKLSPHQWVRQO\ 1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUFXVWRPL]DWLRQIRUPHPEHU
VSHFLILFQHHGV7KHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7RPDLQWDLQOLQNLQWHJULW\
SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVDOVRLQFOXGHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
)DOO0DQDJHPHQW)RRWZHDU (IIHFWLYH$XJXVW
([SLUHV-XO\
5HODWHGFDWHJRULHV
x
x
x
x
x
5HVWUDLQWVDQG)DOO3UHYHQWLRQ3URGXFWV)DOOSUHYHQWLRQSURJUDPVYLVXDOFXHVZDUQLQJ
V\VWHPVPRQLWRUVDODUPVDQGSDWLHQWUHVWUDLQWVRUUHVWUDLQLQJJDUPHQWVDQGGHYLFHVWKDWOLPLWWKHSK\VLFDO
PRYHPHQWRIWKHSDWLHQW
0RELOLW\$LGV&DQHVFUXWFKHVNQHHZDONHUVPRWRUL]HGVFRRWHUVZDONHUVDQGZKHHOFKDLUV
3K\VLFDO7KHUDS\3URGXFWVDQG([HUFLVH(TXLSPHQW3URGXFWVDQGHTXLSPHQWXVHGWRSURYLGHWKHUDS\DLPHG
DWGHYHORSLQJPDLQWDLQLQJDQGUHVWRULQJPD[LPXPPRYHPHQWDQGIXQFWLRQDODELOLW\
5HXVDEOH7H[WLOHVDQG7H[WLOH6HUYLFHV$SSDUHOEHGVSUHDGVSLOORZVSLOORZFDVHVOLQHQVVKHHWVEODQNHWV
UREHVEDWKUXJVVKRZHUFXUWDLQVFXELFOHFXUWDLQVWHUU\SURGXFWV WRZHOVFXUWDLQVHWF ZLQGRZWUHDWPHQWV
VXUJLFDOWH[WLOHVKDPSHUEDJVDQGLQFRQWLQHQFHSURGXFWV
6NLQ%UHDNGRZQ3UHYHQWLRQ3URGXFWV+HHOSURWHFWRUVSURWHFWLYHERRWVHOERZSURWHFWRUVEHGSRVLWLRQHUV
WXUQDQGSRVLWLRQV\VWHPVZKHHOFKDLUFXVKLRQVDQGIRRWGURSSUHYHQWLRQDLGV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
*HQHUDO8URORJLFDO3URGXFWV(IIHFWLYH0DUFK
([SLUHV)HEUXDU\
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHV)ROH\FDWKHWHUV)ROH\FDWKHWHUWUD\VXULQH
PHWHUVGUDLQDJHEDJVXULQDU\FDWKHWHUVHFXUHPHQWGHYLFHVXUHWKUDO
WUD\VLUULJDWLRQWUD\VDQGPLGVWUHDPFDWFKNLWV
6XSSOLHU
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUVZLWKVRPHH[FOXVLRQV6HHYDOXH
DQDO\VLVWRRONLWIRUPRUHLQIRUPDWLRQ
1HZ
3316
$616
3316
([SLULQJ
3316
$616
3316 1HZ
%DUGDFTXLUHG5RFKHVWHULQ1RYHPEHU
'DYLG/
6PLWK
%DUG
GDYLGVPLWK#FUEDUGFRP
OLVDFODUNH#KROOLVWHUFRP
[
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-DQXDU\)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+ROOLVWHU
/LVD&ODUNH
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHU
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
%DUGDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQG
HVWDEOLVKHGQHWZRUNV
+ROOLVWHUDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPV*32VDQG
HVWDEOLVKHGQHWZRUNV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
&XUUHQWDJUHHPHQWVZLWK3RLHVLV0HGLFDO
3316 DQG6WHULJHDU 3316 H[SLUH
)HEUXDU\
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x *URZWKLQFHQWLYHV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3DWLHQWFRPIRUW
x $OOHUJLHV HJODWH[ x 6LOYHUDQWLPLFURELDOYVQRQVLOYHU
FDWKHWHUV
x &$87,JXLGHOLQHV
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x 3DWLHQWVDWLVIDFWLRQ HJFRQYHUWLQJ
IURPODWH[WRVLOLFRQH 3ULFLQJLVILUPIRUWKHWHUPZLWKERWKVXSSOLHUV
%DUGRIIHUVDSHUFHQWVDYLQJVFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
%DUGLVWKHRYHUDOOORZFRVWVXSSOLHU
%DUGRIIHUVDJURZWKLQFHQWLYHIRU7LHUHOLJLEOHPHPEHUV
$YDLODEOHWKURXJKGLVWULEXWLRQ%DUGDQG+ROOLVWHU
$YDLODEOHGLUHFW+ROOLVWHU
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7R
PDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
x 3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
x 3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRU\
x
6SHFLDOW\8URORJLFDO3URGXFWV3URGXFWVXVHGSULPDULO\LQWKHRSHUDWLQJURRPE\SK\VLFLDQVIRUWUHDWPHQWRI
VSHFLILFSUREOHPVRUIRULQWHUYHQWLRQDOSURFHGXUHVVXFKDVELRSVLHVVWRQHUHPRYDORUPLQRUVXUJHULHV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
+DQG+\JLHQH0RQLWRULQJ6ROXWLRQV
(IIHFWLYH)HEUXDU\WKURXJK6HSWHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
7KLVFDWHJRU\LQFOXGHVVROXWLRQVERWKWHFKQRORJ\EDVHGDQGQRQ
WHFKQRORJLFDOXVHGLQWKHDXWRPDWLFLGHQWLILFDWLRQRIKDQGK\JLHQH
PRQLWRULQJWRPHHWVWULQJHQWKDQGK\JLHQHFRPSOLDQFHUHTXLUHPHQWV
6ROXWLRQVDXWRPDWLFDOO\DQGFRQWLQXRXVO\PRQLWRUVVWDIIPHPEHUV FRPSOLDQFHZLWKGHILQHGK\JLHQHDQGLQIHFWLRQSURWRFROV
3316
7KLVFDWHJRU\GRHVQRWLQFOXGHVRDSVRUORWLRQVXVHGLQKDQGZDVKLQJZKLFK
FDQEHIRXQGLQUHODWHG3UHPLHUFDWHJRULHV
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK&HQ7UDN
'HE86$DQG*2-2
$30')3$LVQRWUHTXLUHGZLWK%LRYLJLORU6ZLSH6HQVHGXHWR
VLQJOHWLHURIIHULQJ
$VHSDUDWHPHPEHUDJUHHPHQWLVUHTXLUHGZLWK%LRYLJLO&HQ7UDN
'HE86$DQG*2-2
3316 3316
3316 3316
3316 3316
3316
1HZ
1HZ
$6&(1'
7KHUHLVQR$6&(1'DZDUGLQWKLVFDWHJRU\
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
ZLWK&HQ7UDN'HE86$*2-2DQG6ZLSH6HQVH
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWK%LRYLJLO
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKDOOVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOV
x 'HE86$¶VQHZDJUHHPHQWSULFLQJRIIHUVDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x $FRPSDULVRQWRWKHH[SLULQJ%LRYLJLORU*2-2DJUHHPHQWVLVQRWDYDLODEOHEHFDXVHSULFLQJIRUWKRVHDJUHHPHQWV
ZDVORFDOO\QHJRWLDWHG
x %DVHGRQWKHVFHQDULRDQDO\VLVWKHORZFRVWVXSSOLHUYDULHVGHSHQGLQJRQDFTXLVLWLRQW\SH HJWUDGLWLRQDO
SXUFKDVHRUVXEVFULSWLRQVHUYLFH $YDLODEOHGLUHFW%LRYLJLO&HQ7UDN'HE86$*2-2DQG6ZLSH6HQVH
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
x
x
x
%LRYLJLO+HDOWKFDUH6\VWHPV,QF&ODLUH6WHYHQVFVWHYHQV#ELRYLJLOV\VWHPVFRP
&HQ7UDN,QF*DU\6XQVWHQJVXQVWHQ#FHQWUDNFRP
'HE86$,QF7RP:LURVWHNWRPZLURVWHN#GHEPHGFRP
*2-2,QGXVWULHV,QF&KULV:RRGZRRGF#JRMRFRP
6ZLSH6HQVH,QF-XOLD$]DUFRQMXOLDD]DUFRQ#VZLSHVHQVHFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI'HFHPEHU)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\
&KDLQ$GYLVRU
5HODWHGFDWHJRULHV
x
x
6RDSV/RWLRQVDQG:DWHUOHVV+DQG5LQVHV&OHDQVLQJSURGXFWVVXFKDVDOFRKROUXEVKDQGULQVHVIRDPV
VSUD\VDQGORWLRQV
5),'$VVHW7UDFNLQJDQG0DQDJHPHQW6ROXWLRQV+DUGZDUHFRPSRQHQWVVRIWZDUHDQGSURIHVVLRQDO
VHUYLFHVXVHGWRORFDWHDQGRUWUDFNWDJVZLUHOHVVO\DQGDFFXUDWHO\XVLQJUDGLRIUHTXHQF\LGHQWLILFDWLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
+DQG+\JLHQH0RQLWRULQJ6ROXWLRQV
(IIHFWLYH)HEUXDU\WKURXJK6HSWHPEHU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
+HPRG\QDPLF0RQLWRULQJ3URGXFWVDQG$FFHVVRULHV (IIHFWLYH-XO\ ([SLUHV-XQH
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVDUWHULDOFDWKHWHUVDQGOLQHVWUDQVGXFHUVOHDGV
DQGFDEOHVKHPRG\QDPLFWKHUPRGLOXWLRQFDWKHWHUVLQYDVLYHYHQRXV
R[LPHWU\FDWKHWHUV 6FY2 SXOPRQDU\DUWHU\FDWKHWHUVFORVHG
LQMHFWDWHVDQGLQMHFWDWHGHOLYHU\V\VWHPVIRUXVHZLWKWKHUPRGLOXWLRQ
FDWKHWHUVWHPSRUDU\SXOPRQDU\DUWHU\SDFLQJFDWKHWHUVR[LPHWU\
WKHUPRGLOXWLRQFDWKHWHUVDQGDOOKHPRG\QDPLFFDWKHWHULQVHUWLRQ
SURGXFWVDQGNLWV
6XSSOLHU
&ODVVRIWUDGH
x
x
$JUHHPHQWVZLWK,&80HGLFDODQG5HDYLOO0('DUHDYDLODEOH
WRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUH
IDFLOLWLHV
$UURZ7HOHIOH[DQG(GZDUGVKDYHFODVVRIWUDGHH[FOXVLRQV
6HHYDOXHDQDO\VLVWRRONLWIRUVSHFLILFFODVVRIWUDGH
DYDLODELOLW\
$UURZ
7HOHIOH[
0DWWKHZ
PDWWWRXFK#WHOHIOH[FRP
7RXFK
.ULVWLQD
NULVWLQDBUH\HV#HGZDUGVF
(GZDUGV
RP
5H\HV
0DUN
,&80HGLFDO
PMRUJHQVHQ#LFXPHGFRP
-RUJHQVHQ
5HDYLOO0(' 0DWW5HDYLOO PDWW#UHDYLOOPHGFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0D\)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RU
HOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHU
ZLWK$UURZ7HOHIOH[,&80HGLFDODQG5HDYLOO0('
(GZDUGVUHTXLUHVD30')3$DWDOOWLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
1HZ
([SLULQJ
3316
3316
3316
3316
3316
3316
3316
3316 5HDYLOO0('SUHYLRXVO\LQFOXGHGWKHVHSURGXFWV
XQGHUWKHLU3,&&DQG0LGOLQH$FFHVV3URGXFWV
DJUHHPHQW5HDYLOO0('LVDVPDOOEXVLQHVV
HQWHUSULVH 6%( )LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 2QJRLQJFRQVXPDEOHFRVWV
x 6DYLQJVDWWULEXWHGWRSUHYHQWLQJ
DGGLWLRQDOOHQJWKRIVWD\DQGRU
FRPSOLFDWLRQV
x 9DOXHDGGVHJUHEDWHVDQG
GLVFRXQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x %ORRGVWUHDPLQIHFWLRQV
x /DWH[DOOHUJLHV
x 0DJQHWLFUHVRQDQFHLPDJLQJ 05, FRPSDWLELOLW\
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x (TXLSPHQWZLWKSURSULHWDU\
GLVSRVDEOHV
,&80HGLFDODQG5HDYLOO0('DOORZDJJUHJDWLRQIRUPXOWLIDFLOLW\
V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHG
QHWZRUNVRIIDFLOLWLHVZLWKDOOVXSSOLHUV
$UURZ7HOHIOH[DOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGDW
VHOOHU¶VGLVFUHWLRQHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV$JJUHJDWLRQOLPLWHGWRRZQHGOHDVHGDQGPDQDJHG
2/0 IDFLOLWLHV*32IDFLOLWLHVPXVWLQGHSHQGHQWO\PHHWWKHSDUWLFLSDWLRQUHTXLUHGE\WKHDSSOLFDEOHWLHU
(GZDUGVDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVWKDWRZQDOOIDFLOLWLHVLQWKHV\VWHP)DFLOLWLHVPXVW
LQGHSHQGHQWO\FRPPLWWRSDUWLFLSDWLRQIRUHDFKFDWHJRU\EXWXQLWUHTXLUHPHQWVPD\EHDJJUHJDWHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
+HPRG\QDPLF0RQLWRULQJ3URGXFWVDQG$FFHVVRULHV (IIHFWLYH-XO\ ([SLUHV-XQH
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
$UURZ7HOHIOH[RIIHUVSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
(GZDUGVRIIHUVDSHUFHQWLQFUHDVHRQLQYDVLYHKHPRG\QDPLFSHUFHQWLQFUHDVHRQ3UH6HSDQG
SHUFHQWLQFUHDVHRQ)OR7UDFRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
,&80HGLFDORIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
,&80HGLFDORIIHUVDTXDOLW\LPSURYHPHQWLQLWLDWLYHGLVFRXQWDQGFRQYHUVLRQUHEDWH6HHYDOXHDQDO\VLVWRRONLW
IRUGHWDLOV
5HDYLOO0('RIIHUVIODWSULFLQJFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
5HDYLOO0('RIIHUVJXDUDQWHHGVDYLQJV6HHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
,&80HGLFDOLVWKHORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ$UURZ7HOHIOH[,&80HGLFDODQG5HDYLOO0('
$YDLODEOHGLUHFW$UURZ7HOHIOH[(GZDUGV,&80HGLFDODQG5HDYLOO0('
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUFXVWRPL]DWLRQIRUPHPEHU
VSHFLILFQHHGV7KHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7RPDLQWDLQOLQNLQWHJULW\
SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVDOVRLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
x
$UWHULDO%ORRG*DV.LWV.LWVXVHGWRREWDLQDUWHULDOEORRGVDPSOHVIRUSDWLHQW¶VR[\JHQVDWXUDWLRQDQG
OHYHOVRIR[\JHQFDUERQGLR[LGHS+DQGELFDUERQDWH
&HQWUDO9HQRXV$FFHVV3URGXFWV&HQWUDOYHQRXVDFFHVVFDWKHWHUVVKHDWKVGLODWRUVDQGNLWV
3,&&DQG0LGOLQH$FFHVV3URGXFWV3HULSKHUDOO\LQVHUWHGFHQWUDOYHQRXVFDWKHWHUV 3,&&V PLGOLQH
FDWKHWHUVDQGVXSSOLHV
3K\VLRORJLFDO0RQLWRULQJ6\VWHPV6\VWHPVWKDWPRQLWRUSDWLHQWV¶SK\VLRORJLFSDUDPHWHUVVXFKDV
UHVSLUDWRU\UDWHERG\WHPSHUDWXUHQRQLQYDVLYHDQGLQYDVLYHEORRGSUHVVXUH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
+LJK/HYHO'LVLQIHFWDQWV(IIHFWLYH0D\
([SLUHV$SULO
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHU
7KLVFDWHJRU\LQFOXGHVFKHPLFDOVWKDWDUHFDSDEOHRINLOOLQJEDFWHULD
YLUXVHVDQGEDFWHULDOVSRUHVZKHQXVHGLQVXIILFLHQWFRQFHQWUDWLRQ
XQGHUVXLWDEOHFRQGLWLRQVDQGDUHSULPDULO\XVHGWRGLVLQIHFWVHPL
FULWLFDOLWHPV
6XSSOLHU
&ODVVRIWUDGH
x
x
$JUHHPHQWVZLWK&URVVWH[DQG0HWUH[DUHDYDLODEOHWRDFXWH
FDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
- -LVDYDLODEOHWRDFXWHFDUHFLW\FRXQW\VWDWHKRVSLWDO
FOLQLFDOODEKRVSLWDOSK\VLFLDQSK\VLFLDQJURXSSUDFWLFH
SV\FKLDWULFKRVSLWDOVLQJOHVHUYLFHVXUJHU\FHQWHURU
HQGRVFRS\FHQWHUVRQO\
&URVVWH[
-RKQ6XOOLYDQ
MVXOOLYDQ#VSVPHGLFDOFRP
'DQLHOD
- -
GWD\ORU#LWVMQMFRP
7D\ORU
6WHSKDQLH
VWHSKDQLHPH\HU#PHWUH[
0HWUH[
0H\HU
FRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWRGDWH
FRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKLVDJUHHPHQW
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RU
HOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHURUKLJKHU
ZLWK&URVVWH[DQG0HWUH[
- -UHTXLUHVD30')IRUQHZFXVWRPHUV&XUUHQWFXVWRPHUV
ZLWKD30')XQGHU3316DUHQRWUHTXLUHGWRVXEPLWD
QHZ30')
1HZ
([SLULQJ
3316
1HZ
3316
3316
3316
$616
1HZ
)LQDQFLDOFRQVLGHUDWLRQV
x 'LVSRVDEOHWHVWVWULSFRVWV
x 9DOXHDGGVHJFRQYHUVLRQ
UHEDWHV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3URSHUYHQWLODWLRQ
x 3URWRFROVWRUHGXFHLQKDODWLRQDQG
FRQWDFWH[SRVXUH
x &'&JXLGHOLQHVIRUGLVLQIHFWLRQ
x &RPSDWLEOHPDWHULDOVIRUWKH
VROXWLRQ
x 0LQLPXPVRDNWLPH
x 7HPSHUDWXUHUHTXLUHPHQWV
x %URDGDQWLPLFURELDOVSHFWUXP
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x &KDQJHRISURWRFROVRUPDFKLQHV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHG
QHWZRUNVRIIDFLOLWLHVZLWK&URVVWH[DQG0HWUH[
- -DOORZVDJJUHJDWLRQIRUV\VWHPVZLWKIDFLOLWLHVWKDWDUHRZQHGOHDVHGRUPDQDJHGE\DFRPPRQ
KHDGTXDUWHUVZLWKOHJDODQGILQDQFLDODXWKRULW\
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
- -RIIHUVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0HWUH[RIIHUVDFRQYHUVLRQUHEDWH- -SURGXFWVDUHDYDLODEOHWKURXJKDXWKRUL]HGGLVWULEXWRUV
&URVVWH[LVWKHRYHUDOOORZFRVWVXSSOLHU
0HWUH[LVWKHORZFRVWVXSSOLHUIRUVXSSOLHUVZLWKPRUHWKDQSHUFHQWRIFURVVHGVSHQG
$YDLODEOHWKURXJKGLVWULEXWLRQ&URVVWH[- -DQG0HWUH[
$YDLODEOHGLUHFW- -
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
+LJK/HYHO'LVLQIHFWDQWV(IIHFWLYH0D\
([SLUHV$SULO
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EH
EURNHQ
x 3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
x 3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
x
x
x
x
x
$XWRPDWHG(QGRVFRSLF5HSURFHVVRUV$XWRPDWHGV\VWHPVIRUFOHDQLQJGLVLQIHFWLQJRUVWHULOL]DWLRQE\
FKHPLFDOLPPHUVLRQRIKHDWVHQVLWLYHPHGLFDOLQVWUXPHQWVRIFRPSOH[GHVLJQ GLVLQIHFWDQWVLQFOXGHG +LJK/HYHO'LVLQIHFWLRQ5HSURFHVVLQJ5HSURFHVVLQJVHUYLFHVIRUVHPLFULWLFDODQGQRQFULWLFDOVLQJOH
XVHGHYLFHV
+RXVHNHHSLQJ3URGXFWV3URGXFWVXVHGZLWKLQDOOLQWHUQDOIDFLOLW\DUHDVWRGLVLQIHFWDQGFOHDQJHQHUDO
VXUIDFHDUHDVDQGIORRULQJ
,QVWUXPHQW&OHDQHUVDQG(Q]\PDWLFV'HWHUJHQWVHQ]\PDWLFVULQVHVDQGOXEULFDQWVIRUPDQXDORU
PHFKDQLFDOFOHDQLQJ
,QWHUPHGLDWH/HYHO'LVLQIHFWDQW:LSHV'LVLQIHFWDQWZLSHVXVHGWRGLVLQIHFWSDWLHQWFDUHDUHDVDQG
HTXLSPHQWLQEHWZHHQSDWLHQWXVH
6WHDP6WHULOL]HUV3URGXFWVXVHGDVDILQDOVWHSLQUHSURFHVVLQJUHXVDEOHPHGLFDOLQVWUXPHQWVLQ
SUHSDUDWLRQIRUXVHRQWKHQH[WSDWLHQWRUWRVWHULOL]HQRQVWHULOHSURGXFWVEHIRUHXVH
6WHULOH5HSURFHVVLQJ7KLUGSDUW\UHSURFHVVRUVWKDWFROOHFWXVHGRSHQDQGXQXVHGVLQJOHXVHVXUJLFDO
GHYLFHVIURPDQDFXWHFDUHIDFLOLW\±WKHVHLWHPVDUHFOHDQHGWHVWHGLQVSHFWHGWUDFNHGSHUQXPEHURI
UHSURFHVVLQJF\FOHVUHSDFNDJHGDQGVWHULOL]HG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
+LJK5LVN2%*<1±0HG6XUJ3URGXFWV
(IIHFWLYH-DQXDU\
([SLUHV'HFHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVSURGXFWVXVHGWRWUHDWFRQGLWLRQVRIYDULRXV
KLJKULVNREVWHWULFDODQGJ\QHFRORJLFDOGLVRUGHUVLQFOXGLQJEXWQRW
OLPLWHGWRSRVWSDUWXPKHPRUUKDJHIHWDOVXUJHULHVDQG
K\VWHURVDOSLQJRJUDSK\SURFHGXUHV
7KHVHSURGXFWVZHUHSUHYLRXVO\LQFOXGHGLQWKH+LJK5LVN2%*<1
3URGXFWVFDWHJRU\$VVLVWHGUHSURGXFWLYHWKHUDS\DQGLQYLWUR
IHUWLOL]DWLRQDOVRDYDLODEOHRQWKHSULRUDJUHHPHQWKDYHEHHQVSOLWLQWR
WKHLURZQFDWHJRU\±+LJK5LVN2%*<1±6SHFLDOW\3URGXFWV
&ODVVRIWUDGH
7KHDJUHHPHQWLVDYDLODEOHWRDFXWHFRQWLQXXPRIFDUHDQG3UHPLHU
5($&+PHPEHUV
&RRN
7LP1DJXV WLPQDJXV#FRRNPHGLFDOFRP
0HGLFDO
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI2FWREHU)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKLVDJUHHPHQW
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDWDOOWLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
$ZDUGHGVXSSOLHU
6XSSOLHU
1HZ
([SLULQJ
3316 33:&
7KHFXUUHQWDJUHHPHQWZLWK8$0HGLFDO 33
:& H[SLUHV'HFHPEHU
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 0LQLPXPRUGHUUHTXLUHPHQWV
x 6KLSSLQJFKDUJHVIRUORZYROXPH
RUGHUV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x &OLQLFDOVXSSRUWDQGHGXFDWLRQ
IURPWKHVXSSOLHU
x /DWH[IUHHRSWLRQV
x 3URGXFWVL]HVDYDLODEOH
x 3DWLHQWFRPIRUW
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x $JJUHJDWLRQUHTXLUHPHQWV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQG
HVWDEOLVKHGQHWZRUNV
7KHDJJUHJDWLRQRSWLRQVHUYHVWRDJJUHJDWHWKHGROODUYROXPHRQO\*32DQGDJJUHJDWLRQJURXSIDFLOLWLHVPXVW
LQGHSHQGHQWO\FRPPLWWRWKHPDUNHWVKDUHUHTXLUHGE\WKHWLHU
,QGLYLGXDOPHPEHUVDUHJUDQWHGDVL[PRQWKSHULRGIURPWKHHIIHFWLYHGDWHRIDFWLYDWLRQWRDWWDLQDJJUHJDWH
FRPSOLDQFHOHYHO
2WKHUNH\YDOXHDQGWHUPV
x 3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQW
x &RRN0HGLFDO¶VQHZDJUHHPHQWLQFOXGHVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
x 3URGXFWVDUHDYDLODEOHGLUHFWIURP&RRN0HGLFDO
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHV
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUFXVWRPL]DWLRQIRUPHPEHU
VSHFLILFQHHGV7KHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7RPDLQWDLQOLQNLQWHJULW\
SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVDOVRLQFOXGHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
+LJK5LVN2%*<1±0HG6XUJ3URGXFWV
(IIHFWLYH-DQXDU\
([SLUHV'HFHPEHU
5HODWHGFDWHJRULHV
x
x
+LJK5LVN2%*<1±6SHFLDOW\3URGXFWV3URGXFWVXVHGLQYLWURIHUWLOL]DWLRQSURFHGXUHVDVVRFLDWHGZLWK
DVVLVWHGUHSURGXFWLYHWKHUDS\
6SHFLDOW\8URORJLFDO3URGXFWV6SHFLDOW\FDWKHWHUVJXLGHZLUHVVWRQHUHPRYDOVWHQWVDQGGLODWLRQSURGXFWV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
+LJK5LVN2%*<1±6SHFLDOW\3URGXFWV
(IIHFWLYH-DQXDU\
([SLUHV'HFHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVSURGXFWVXVHGLQYLWURIHUWLOL]DWLRQSURFHGXUHV
DVVRFLDWHGZLWKDVVLVWHGUHSURGXFWLYHWKHUDS\
7KHVHSURGXFWVZHUHSUHYLRXVO\LQFOXGHGLQWKH+LJK5LVN2%*<1
3URGXFWVFDWHJRU\3URGXFWVIRUSRVWSDUWXPKHPRUUKDJHIHWDO
VXUJHULHVDQGK\VWHURVDOSLQJRJUDSK\SURFHGXUHVDOVRDYDLODEOHRQWKH
SULRUDJUHHPHQWKDYHEHHQVSOLWLQWRWKHLURZQFDWHJRU\±+LJK5LVN
2%*<1±0HG6XUJ3URGXFWV
&ODVVRIWUDGH
7KHDJUHHPHQWLVDYDLODEOHWRDFXWHFRQWLQXXPRIFDUHDQG3UHPLHU
5($&+PHPEHUV
&RRN
7LP1DJXV WLPQDJXV#FRRNPHGLFDOFRP
0HGLFDO
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI2FWREHU)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKLVDJUHHPHQW
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDWDOOWLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
$ZDUGHGVXSSOLHU
6XSSOLHU
1HZ
([SLULQJ
3316 33:&
7KHFXUUHQWDJUHHPHQWZLWK8$0HGLFDO 33
:& H[SLUHV'HFHPEHU
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 7RWDOSURFHGXUHFRVWLQFOXGLQJ
GUXJVSHUWUHDWPHQWF\FOH
x 0LQLPXPRUGHUUHTXLUHPHQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x &OLQLFDOVXSSRUWDQGHGXFDWLRQ
IURPWKHVXSSOLHU
x +LVWRULFSUHJQDQF\UDWHIRUWKH
VXSSOLHUDQGRUWKHIDFLOLW\
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x $JJUHJDWLRQUHTXLUHPHQWV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQG
HVWDEOLVKHGQHWZRUNV
7KHDJJUHJDWLRQRSWLRQVHUYHVWRDJJUHJDWHWKHGROODUYROXPHRQO\*32DQGDJJUHJDWLRQJURXSIDFLOLWLHVPXVW
LQGHSHQGHQWO\FRPPLWWRWKHPDUNHWVKDUHUHTXLUHGE\WKHWLHU
,QGLYLGXDOPHPEHUVDUHJUDQWHGDVL[PRQWKSHULRGIURPWKHHIIHFWLYHGDWHRIDFWLYDWLRQWRDWWDLQDJJUHJDWH
FRPSOLDQFHOHYHO
2WKHUNH\YDOXHDQGWHUPV
x 3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQW
x &RRN0HGLFDO¶VQHZDJUHHPHQWLQFOXGHVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
x 3URGXFWVDUHDYDLODEOHGLUHFWIURP&RRN0HGLFDO
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHV
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUFXVWRPL]DWLRQIRUPHPEHU
VSHFLILFQHHGV7KHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7RPDLQWDLQOLQNLQWHJULW\
SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVDOVRLQFOXGHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
+LJK5LVN2%*<1±6SHFLDOW\3URGXFWV
(IIHFWLYH-DQXDU\
([SLUHV'HFHPEHU
5HODWHGFDWHJRULHV
x
x
+LJK5LVN2%*<1±0HG6XUJ3URGXFWV3URGXFWVXVHGWRWUHDWFRQGLWLRQVRIYDULRXVKLJKULVNREVWHWULFDO
DQGJ\QHFRORJLFDOGLVRUGHUVLQFOXGLQJEXWQRWOLPLWHGWRSRVWSDUWXPKHPRUUKDJHIHWDOVXUJHULHVDQG
K\VWHURVDOSLQJRJUDSK\SURFHGXUHV
6SHFLDOW\8URORJLFDO3URGXFWV6SHFLDOW\FDWKHWHUVJXLGHZLUHVVWRQHUHPRYDOVWHQWVDQGGLODWLRQSURGXFWV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
+RWDQG&ROG3DFNV (IIHFWLYH'HFHPEHU ([SLUHV1RYHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVLWHPVIRUKHDWLQJDQGFRROLQJUHODWHGWR
WUHDWPHQWUHGXFWLRQRISDLQFRPIRUWDQGVZHOOLQJGXHWRPLQRU
SURFHGXUHVRUWKHPDLQWHQDQFHRIZDUPWK,WHPVDUHSULPDULO\
GHVLJQHGIRUVLQJOHSDWLHQWXVHDQGPD\LQFOXGHUHXVDEOHLWHPVIRUWKH
VDPHSDWLHQW7KLVFDWHJRU\GRHVQRWLQFOXGHWKHFROGWKHUDS\XQLWV
$ZDUGHGVXSSOLHUV
6XSSOLHU
&ODVVRIWUDGH
x
x
'H1RYR+06DQG6ROXWLRQ0DWUL[DUHDYDLODEOHWRDFXWHFDUH
FRQWLQXXPRIFDUHDQG3UHPLHU5($&+PHPEHUV
&DUGLQDOLVDYDLODEOHWRVHOHFWDFXWHFDUHDQGQRQDFXWH
KHDOWKFDUHIDFLOLWLHV6HHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
-HII
MHIIHDVWHUOLQJ#FDUGLQDOKHD
OWKFRP
(DVWHUOLQJ
'H1RYR
0DWW:DOWHUV PDWW#GHQRYRSURGXFWVFRP
-XGVRQ
+06
MGR\OH#KPVPHGLFDOFRP
'R\OH
[
6ROXWLRQ -HUHP\
MDGNLQV#VROXWLRQPDWUL[LQF
0DWUL[
$GNLQV
FRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI6HSWHPEHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
&DUGLQDO
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHUDQGKLJKHUZLWK
&DUGLQDODQG'H1RYR
+06DQG6ROXWLRQ0DWUL[GRQRWUHTXLUHD30')3$
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQG
HVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWK&DUGLQDODQG'H1RYR
+06DQG6ROXWLRQ0DWUL[RIIHUDVLQJOHWLHUZKHUHDJJUHJDWLRQ
LVQRWDSSOLFDEOH
1HZ
3316
$616
([SLULQJ
3316
$616
3316
3316
3316
1HZ
3316
3316
'H1RYR+06DQG6ROXWLRQ0DWUL[DUHVPDOO
EXVLQHVVHQWHUSULVHV 6%( )LQDQFLDOFRQVLGHUDWLRQV
x 6LQJOHXVHLWHPVYVWRPXOWLXVHLWHPV
x 1XPEHURISURGXFWVQHHGHGIRURQH
WUHDWPHQW
x $GGLWLRQDOLWHPVQHHGHGWRFRYHUWKH
SDFNWRUHJXODWHWHPSHUDWXUH
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 0D[LPXPDQGPLQLPXPVDIH
WHPSHUDWXUHV
x (DVHRIXVH
x 'LIIHUHQFHVLQFKHPLFDOVXVHGWR
FUHDWHKHDWUHDFWLRQV
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x &ODVVRIWUDGHUHVWULFWLRQV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
&DUGLQDORIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
'H1RYRRIIHUVDQSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
6ROXWLRQ0DWUL[RIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
7KHORZFRVWVXSSOLHUYDULHVE\VXEFDWHJRU\
$YDLODEOHWKURXJKGLVWULEXWLRQ&DUGLQDO'H1RYR+06DQG6ROXWLRQ0DWUL[
$YDLODEOHGLUHFW&DUGLQDO'H1RYRDQG6ROXWLRQ0DWUL[
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
+RWDQG&ROG3DFNV (IIHFWLYH'HFHPEHU ([SLUHV1RYHPEHU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUFXVWRPL]DWLRQIRUPHPEHU
VSHFLILFQHHGV7KHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7RPDLQWDLQOLQNLQWHJULW\
SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVDOVRLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
x
x
'LVSRVDEOH/DERUDQG'HOLYHU\3URGXFWV:DUPLQJPDWWUHVVHVIRUWKHFDUHRIWKHLQIDQWLPPHGLDWHO\
IROORZLQJWKHELUWKLQJSURFHVV
3DWLHQW7HPSHUDWXUH0DQDJHPHQW)OXLGFLUFXODWHGEODQNHWVDQGLQYDVLYHZDUPLQJSURGXFWV
3DWLHQW:DUPLQJ±&RQYHFWLYH:DUPLQJ%ODQNHWV&RQYHFWLYH IRUFHGDLU ZDUPLQJEODQNHWV
3DWLHQW:DUPLQJ±%ORRGDQG)OXLG:DUPLQJ%ORRGDQGIOXLGZDUPLQJSURGXFWVXVHGWRSUHYHQWDQGWUHDW
K\SRWKHUPLDE\ZDUPLQJWKHEORRGIOXLGDVLWLVLQIXVHGLQWRWKHSDWLHQW
3HGLDWULFDQG<RXWK'LVSRVDEOHV3DVVLYHZDUPLQJJDUPHQWVXVLQJUHIOHFWLYHPDWHULDOVWRNHHSLQSDWLHQW¶V
RZQUDGLDQWKHDW
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
,QFRQWLQHQFH3URGXFWV
(IIHFWLYH$XJXVW
([SLUHV-XO\
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVEULHIVXQGHUSDGVZLSHVFRQWUROSDGVPHVK
SDQWLHVDQGXQGHUJDUPHQWVXVHGIRUPRGHUDWHWRVHYHUHXULQDU\
RXWSXWDQGORVVRIERZHOFRQWURO
6XSSOLHU
x
x
&RYLGLHQLVDYDLODEOHWRVHOHFWDFXWHFDUHQRQDFXWH
KHDOWKFDUHDQGHGXFDWLRQIDFLOLWLHV6HH$SSHQGL[$LQWKH
YDOXHDQDO\VLVWRRONLWIRUGHWDLOV
0HGOLQHLVDYDLODEOHWRVHOHFWDFXWHFDUHDQGQRQDFXWH
KHDOWKFDUH6HH$SSHQGL[$LQWKHYDOXHDQDO\VLVWRRONLWIRU
GHWDLOV
66*OREDOLVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUH
DQGQRQKHDOWKFDUHIDFLOLWLHV
&RYLGLHQ
*UHJ
*RRGDOO
JUHJMJRRGDOO#PHGWURQLFFRP
0HGOLQH
0DUN3DUU\
PSDUU\#PHGOLQHFRP
([SLULQJ
3316 33$&
$616 $6$&
&ODVVRIWUDGH
x
1HZ
3316 33$&
3316
$616
1HZ
$6&(1'7KLVFDWHJRU\KDVEHHQGHVLJQDWHG
DV%DVH9LVLWWKH$6&(1'SRUWDOIRU
$6&(1'ODXQFKPDWHULDOV
66
&KULV
FKULVBPFFDZ#SUHPLHULQFFRP
*OREDO
0F&DZ
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$XJXVW)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURU
KLJKHUZLWKDOOVXSSOLHUV
&RYLGLHQUHTXLUHVD3ULPDU\*URXS'HVLJQDWLRQ)RUP 3*') IRUPHPEHUVZKRGRQRWKDYHD3*')RQILOH
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRI
IDFLOLWLHVZLWK0HGOLQHDQG66*OREDO
&RYLGLHQDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWKWKHDELOLW\WR
LQIOXHQFHGHFLVLRQV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWK0HGOLQHDQG66*OREDO
x &RYLGLHQLVILUPIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWRQDOLQHLWHPEDVLVIRU
HDFKSHUFHQWLQFUHDVHLQDJJUHJDWHFRVW
&RYLGLHQDQG0HGOLQHRIIHUFRQYHUVLRQUHEDWHV6HHYDOXHDGGVVHFWLRQLQWKHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
&RYLGLHQ¶VQHZDJUHHPHQWRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
0HGOLQHZLOOJUDQGIDWKHUORFDODJUHHPHQWSULFLQJWKDWLVORZHUWKDQSULFLQJRQWKLVDJUHHPHQW6HHWHUPVDQG
FRQGLWLRQVLQWKHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
0HGOLQH¶VQHZDJUHHPHQWRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
66LVWKHORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ&RYLGLHQ0HGOLQH66*OREDO
$YDLODEOHGLUHFW&RYLGLHQ GLUHFWRUGHUIHH 0HGOLQH66*OREDO FRQWDLQHUVKLSPHQWVRQO\ 1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
,QFRQWLQHQFH3URGXFWV
(IIHFWLYH$XJXVW
([SLUHV-XO\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
x
x
%ODGGHU6FDQQHUV (TXLSPHQWXVHGWRDVVHVVEODGGHUYROXPHDQGRWKHUEODGGHUFRQGLWLRQV
'LVSRVDEOH/DERUDQG'HOLYHU\3URGXFWV'LVSRVDEOHVXSSOLHVUHTXLUHGLQWKHFDUHRIWKHPRWKHUDQGLQIDQW
WKURXJKRXWWKHELUWKLQJSURFHVVVXFKDVPDWHUQLW\SDGVDQGPHVKPDWHUQLW\SDQWV
,QIDQW'LDSHUVDQG5HODWHG3URGXFWV'LVSRVDEOHGLDSHUVGHVLJQHGLQYDULRXVVL]HVUDQJLQJIURP
SUHHPLHQHRQDWHWR\RXWK
3DWLHQW&OHDQVLQJDQG6NLQ&DUH %DJ%DVHG 'LVSRVDEOHZLSHVLQDEDJEDWKLQDEDJXVHGDWWKHSDWLHQW
EHGVLGHDQGWKHSUHSDFNDJHGFKORUKH[LGLQHJOXFRQDWH &+* ZLSHV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
,QIXVLRQ'HYLFHVDQG'HYLFHGHGLFDWHG6HWV
(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVODUJHYROXPHLQIXVLRQWKHUDS\SXPSV,9
WKHUDS\SDLQPDQDJHPHQWSXPSV VSHFLILFWRQDUFRWLFVDQWLELRWLFVRU
FKHPRWKHUDS\ ,9V\ULQJHSXPSVWXELQJDQGVHWV,9DPEXODWRU\
SXPSVWXELQJDQGVHWVDQGPHGLFDWLRQPDQDJHPHQWVRIWZDUH
LQFOXGLQJDGYHUVHGUXJHYHQWWUDFNLQJDQGPDQDJHPHQWV\VWHPV
6XSSOLHU
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
%D[WHU
'DYLG
6KHOOHQEHUJHU
GDYLGBVKHOOHQEHUJHU#ED[WHU
FRP
%%UDXQ
%LOO0LOOHU
ELOOPLOOHU#EEUDXQFRP
&DUH)XVLRQ
&KXFN&ROOLV
FKDUOHVBFROOLV#EGFRP
6PLWKV
0HGLFDO
-XOLHW/DUVRQ
MXOLHWODUVRQ#VPLWKV
PHGLFDOFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$XJXVW)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKDOO
VXSSOLHUV
%D[WHU%%UDXQDQG6PLWKV0HGLFDODOVRUHTXLUHDOHWWHURI
SDUWLFLSDWLRQRUOHWWHURIFRPPLWPHQWWRRSHUDWLRQDOL]HWKH
DJUHHPHQWIRUVSHFLILFWLHUVRUYDOXHDGGV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
x
$JJUHJDWLRQIRU%D[WHULVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVZLWK
WKHDELOLW\WRFRQWUROSXUFKDVLQJGHFLVLRQVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNV
$JJUHJDWLRQLVQRWDOORZHGIRU%%UDXQ
$JJUHJDWLRQIRU&DUH)XVLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV
JURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNV
$JJUHJDWLRQIRU6PLWKV0HGLFDOLVDOORZHGIRURZQHGDQG
FHQWUDOO\PDQDJHGPXOWLIDFLOLW\V\VWHPVWKDWKDYHWKHDELOLW\WR
GULYHFHQWUDOL]HGSXUFKDVLQJGHFLVLRQV 1HZ
([SLULQJ
33,9
33,9
33,9
33,9
33,9
33,9
33,9
33,9
33,9
%D[WHUDFTXLUHG 6LJPD,QWHUQDWLRQDO 33,9 LQ
&XUUHQWDJUHHPHQWVZLWK([FHOVLRU 33,9 DQG
+RVSLUD 33,9 H[SLUH-DQXDU\
0HPEHUVZKRQHHGWRFRQWLQXHWRSXUFKDVHSURGXFWV
IURP+RVSLUDDUHHQFRXUDJHGWRVLJQDORFDO
DJUHHPHQWZLWKDVWDUWGDWHEHIRUH-DQXDU\
&RQVLGHURSSRUWXQLWLHVZLWK3UHPLHUFRQWUDFWHG,9
VXSSOLHUV
)LQDQFLDOFRQVLGHUDWLRQV
x 3XUFKDVHYVOHDVH
x 6RIWZDUHOLFHQVHVDQGXSJUDGHV
x 2QJRLQJQHHGIRUFRQVXPDEOHV
x ,PSOHPHQWDWLRQDQGWUDLQLQJ
x (05LQWHJUDWLRQ
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3RWHQWLDOWXELQJPLVFRQQHFWLRQV
x )XQFWLRQDOLW\SURKLELWLQJGUXJOLEUDU\
E\SDVVIRUFHUWDLQPHGLFDWLRQV
5RDGEORFNVWRFRQYHUVLRQ
x 8VHIXOOLIHRISXPSVDQGOHQJWKRI
FXUUHQWPHPEHUDJUHHPHQW
x &URVVFDWHJRU\YDOXHDGGVDQGWLHUV
x ,QWHJUDWLRQFDSDELOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
%D[WHU&DUH)XVLRQDQG6PLWKV0HGLFDORIIHUYDOXHDGGV
3ULFLQJLVILUPZLWK%D[WHUIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWDQQXDOO\LQ
DJJUHJDWH
%D[WHU¶VQHZDJUHHPHQWSULFLQJLVDQRYHUDOOLQFUHDVHRISHUFHQW
%D[WHULVWKHORZFRVWVXSSOLHUIRUGHGLFDWHGVHWV
3ULFLQJLVILUPZLWK%%UDXQIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHE\SHUFHQW
%%UDXQ¶VQHZDJUHHPHQWSULFLQJLVDQRYHUDOOLQFUHDVHRISHUFHQW
35235,(7$5<$1'&21),'(17,$/%<35(0,(5385&+$6,1*3$571(56/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5385&+$6,1*3$571(56/3
,QIXVLRQ'HYLFHVDQG'HYLFHGHGLFDWHG6HWV
(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
2WKHUNH\YDOXHDQGWHUPV FRQWLQXHG x
x
x
x
x
x
3ULFLQJLVILUPZLWK&DUH)XVLRQIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHDQQXDOO\XSWRSHUFHQW
RUFKDQJHDFFRUGLQJWRWKH&RQVXPHU3ULFH,QGH[
x ,IDPHPEHUVLJQVDVL[\HDUELODWHUDODJUHHPHQWLQWKHILUVWPRQWKVRIWKLVDJUHHPHQWSULFLQJ
IRUGLVSRVDEOHZLOOEHILUPIRUWKHWHUPRIWKHDJUHHPHQW
&DUH)XVLRQ¶VQHZDJUHHPHQWSULFLQJLVDQRYHUDOOVDYLQJVRISHUFHQW
3ULFLQJLVILUPZLWK6PLWKV0HGLFDOIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHDQQXDOO\WKHJUHDWHURI
SHUFHQWRUFKDQJHDFFRUGLQJWRWKH&RQVXPHU3ULFH,QGH[
6PLWKV0HGLFDO¶VQHZDJUHHPHQWSULFLQJLVDQRYHUDOOVDYLQJVRISHUFHQW
$YDLODEOHWKURXJKGLVWULEXWLRQ%D[WHU%%UDXQ&DUH)XVLRQDQG6PLWKV0HGLFDO
$YDLODEOHGLUHFW%D[WHU%%UDXQ&DUH)XVLRQDQG6PLWKV0HGLFDO
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
&RVWPRGHOLQJWRRO$Q([FHOVSUHDGVKHHWWKDWDOORZV\RXWRFRPSDUH,9FRVWVZLWKLQ\RXUIDFLOLW\WRJDXJH
VDYLQJVRSSRUWXQLWLHV
,QIXVLRQSXPSSURGXFWUHIHUHQFH$Q([FHOVSUHDGVKHHWZLWKGHWDLOHGLQIRUPDWLRQRQWKHSXPSVSHFLILFDWLRQVRI
HDFKVXSSOLHU
,QIXVLRQ3XPSV3XUFKDVLQJ*XLGH$3')JXLGHWRSXUFKDVLQJFRQVLGHUDWLRQVDURXQGLQIXVLRQSXPSV
5HODWHGFDWHJRULHV
x
x
x
x
x
'LVLQIHFWLRQ&DSV$OFRKROEDVHGGLVLQIHFWLRQFDSVXVHGWRGLVLQIHFWWKHKXERI,9YDOYHV
,QIXVLRQ6HWVDQG$FFHVVRULHV,9JUDYLW\WXELQJVHWVH[WHQVLRQVHWVZLWKRXWQHHGOHOHVVFRQQHFWRUV
VWRSFRFNVPDQLIROGVDQG,9WXELQJDFFHVVRULHV
,9)OXLGV%DJEDVHG'UXJ'HOLYHU\DQG7310DFURQXWULHQWV,9IOXLGV ERWKVPDOODQGODUJHYROXPH EDJEDVHGGUXJGHOLYHU\V\VWHPVVPDOODQGODUJHYROXPHSDUHQWHUDOVDQG731PDFURQXWULHQWV DPLQR
DFLGVGH[WURVHDQGLQWUDYHQRXVIDWHPXOVLRQV 1HHGOHOHVV&RQQHFWRUV'HYLFHVGHVLJQHGWRDOORZFRQQHFWLRQRIPXOWLSOHLQWUDYHQRXVVHWVDQGFDWKHWHU
KXEVZLWKRXWWKHXVHRIQHHGOHV7KLVLQFOXGHVDOOQHHGOHOHVVFRQQHFWRUVZLWKDQGZLWKRXWH[WHQVLRQVHWV
OHVVWKDQLQFKHVDWWDFKHG
3KDUPDF\&RPSRXQGLQJ(TXLSPHQWDQG$GPL[WXUH6XSSOLHV3KDUPDF\FDSLWDOHTXLSPHQWVXFKDV
DXWRPDWHGWRWDOSDUHQWHUDOQXWULWLRQ 731 FRPSRXQGHUVDQGDFFHVVRULHVDQGDXWRPDWHGILOOLQJGHYLFHV
DQGDFFHVVRULHV(ODVWRPHULFSXPSVDQGSKDUPDF\DGPL[WXUHVXSSOLHVDUHDOVRDSDUWRIWKLVFDWHJRU\
35235,(7$5<$1'&21),'(17,$/%<35(0,(5385&+$6,1*3$571(56/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5385&+$6,1*3$571(56/3
,QIXVLRQ6HWVDQG$FFHVVRULHV (IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHV,9JUDYLW\WXELQJVHWVH[WHQVLRQVHWVZLWKRXW
QHHGOHOHVVFRQQHFWRUVVWRSFRFNVPDQLIROGVDQG,9WXELQJ
DFFHVVRULHV
6XSSOLHU
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
%D[WHU
'DYLG
6KHOOHQEHUJHU
GDYLGBVKHOOHQEHUJHU#ED[WHU
FRP
%%UDXQ
%LOO0LOOHU
ELOOPLOOHU#EEUDXQFRP
&DUH)XVLRQ
&KXFN&ROOLV
FKDUOHVBFROOLV#EGFRP
,&80HGLFDO
0DUN
-RUJHQVHQ
PMRUJHQVHQ#LFXPHGFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0D\)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKDOO
VXSSOLHUV
%D[WHUDQG%%UDXQDOVRUHTXLUHDOHWWHURISDUWLFLSDWLRQRU
OHWWHURIFRPPLWPHQWWRRSHUDWLRQDOL]HWKHDJUHHPHQWIRU
VSHFLILFWLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
x
1HZ
([SLULQJ
33,9
33,9
33,9
33,9
33,9
33,9
33,9
33,9
&XUUHQWDJUHHPHQWVZLWK+RVSLUD 33,9 DQG
6PLWKV0HGLFDO 33,9 H[SLUH-DQXDU\
0HPEHUVZKRQHHGWRFRQWLQXHWRSXUFKDVH
SURGXFWVIURP+RVSLUDDUHHQFRXUDJHGWRVLJQD
ORFDODJUHHPHQWZLWKDVWDUWGDWHEHIRUH-DQXDU\
&RQVLGHURSSRUWXQLWLHVZLWK3UHPLHU
FRQWUDFWHG,9VXSSOLHUV
)LQDQFLDOFRQVLGHUDWLRQV
x &RVWRIFXVWRPFRPSDUHGWR
VWDQGDUGVHWV
x 9DOXHDGGVRIIHUHGE\VXSSOLHUV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3RWHQWLDOWXELQJPLVFRQQHFWLRQV
x 39&ODWH[DQG'(+3IUHHWXELQJ
5RDGEORFNVWRFRQYHUVLRQ
x &URVVFDWHJRU\YDOXHDGGVDQGWLHUV
$JJUHJDWLRQIRU%D[WHULVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVZLWK
WKHDELOLW\WRFRQWUROSXUFKDVLQJGHFLVLRQVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNV
$JJUHJDWLRQLVQRWDOORZHGIRU%%UDXQ
$JJUHJDWLRQIRU&DUH)XVLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV
JURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNV
$JJUHJDWLRQIRU,&80HGLFDOLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVZLWKWKHDELOLW\WRFRRUGLQDWHSXUFKDVLQJ
GHFLVLRQVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
%D[WHU&DUH)XVLRQDQG,&80HGLFDORIIHUYDOXHDGGV
3ULFLQJLVILUPZLWK%D[WHUIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWDQQXDOO\LQ
DJJUHJDWH
%D[WHU¶VQHZDJUHHPHQWSULFLQJLVDQRYHUDOOLQFUHDVHRISHUFHQW
3ULFLQJLVILUPZLWK%%UDXQIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHE\SHUFHQW
%%UDXQ¶VQHZDJUHHPHQWSULFLQJLVDQRYHUDOOLQFUHDVHRISHUFHQW
3ULFLQJLVILUPZLWK&DUH)XVLRQIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHDQQXDOO\XSWRSHUFHQW
RUFKDQJHDFFRUGLQJWRWKH&RQVXPHU3ULFH,QGH[
x ,IDPHPEHUVLJQVDVL[\HDUELODWHUDODJUHHPHQWLQWKHILUVWPRQWKVRIWKLVDJUHHPHQWSULFLQJ
IRUGLVSRVDEOHZLOOEHILUPIRUWKHWHUPRIWKHDJUHHPHQW
&DUH)XVLRQ¶VQHZDJUHHPHQWSULFLQJLVDQRYHUDOOLQFUHDVHRISHUFHQW
35235,(7$5<$1'&21),'(17,$/%<35(0,(5385&+$6,1*3$571(56/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5385&+$6,1*3$571(56/3
,QIXVLRQ6HWVDQG$FFHVVRULHV (IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
2WKHUNH\YDOXHDQGWHUPV FRQWLQXHG x
x
x
x
x
3ULFLQJLVILUPZLWK,&80HGLFDOIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWRQDOLQH
LWHPEDVLV
,&80HGLFDO¶VQHZDJUHHPHQWSULFLQJLVDQRYHUDOOLQFUHDVHRISHUFHQW
,&80HGLFDOLVWKHORZFRVWVXSSOLHUIRULQIXVLRQVHWVDQGDFFHVVRULHV
$YDLODEOHWKURXJKGLVWULEXWLRQ%D[WHU%%UDXQ&DUH)XVLRQDQG,&80HGLFDO
$YDLODEOHGLUHFW%D[WHU%%UDXQDQG&DUH)XVLRQ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
&RVWPRGHOLQJWRRO$Q([FHOVSUHDGVKHHWWKDWDOORZV\RXWRFRPSDUH,9FRVWVZLWKLQ\RXUIDFLOLW\WRJDXJH
VDYLQJVRSSRUWXQLWLHV
5HODWHGFDWHJRULHV
x
x
x
x
x
'LVLQIHFWLRQ&DSV$OFRKROEDVHGGLVLQIHFWLRQFDSVXVHGWRGLVLQIHFWWKHKXERI,9YDOYHV
,QIXVLRQ'HYLFHVDQG'HYLFHGHGLFDWHG6HWV/DUJHYROXPHLQIXVLRQWKHUDS\SXPSV,9WKHUDS\SDLQ
PDQDJHPHQWSXPSV VSHFLILFWRQDUFRWLFVDQWLELRWLFVRUFKHPRWKHUDS\ ,9V\ULQJHSXPSVWXELQJDQG
VHWV,9DPEXODWRU\SXPSVWXELQJDQGVHWVDQGPHGLFDWLRQPDQDJHPHQWVRIWZDUHLQFOXGLQJDGYHUVH
GUXJHYHQWWUDFNLQJDQGPDQDJHPHQWV\VWHPV
,9)OXLGV%DJEDVHG'UXJ'HOLYHU\DQG7310DFURQXWULHQWV,9IOXLGV ERWKVPDOODQGODUJHYROXPH EDJEDVHGGUXJGHOLYHU\V\VWHPVVPDOODQGODUJHYROXPHSDUHQWHUDOVDQG731PDFURQXWULHQWV DPLQR
DFLGVGH[WURVHDQGLQWUDYHQRXVIDWHPXOVLRQV 1HHGOHOHVV&RQQHFWRUV'HYLFHVGHVLJQHGWRDOORZFRQQHFWLRQRIPXOWLSOHLQWUDYHQRXVVHWVDQGFDWKHWHU
KXEVZLWKRXWWKHXVHRIQHHGOHV7KLVLQFOXGHVDOOQHHGOHOHVVFRQQHFWRUVZLWKDQGZLWKRXWH[WHQVLRQVHWV
OHVVWKDQLQFKHVDWWDFKHG
3KDUPDF\&RPSRXQGLQJ(TXLSPHQWDQG$GPL[WXUH6XSSOLHV3KDUPDF\FDSLWDOHTXLSPHQWVXFKDV
DXWRPDWHGWRWDOSDUHQWHUDOQXWULWLRQ 731 FRPSRXQGHUVDQGDFFHVVRULHVDQGDXWRPDWHGILOOLQJGHYLFHV
DQGDFFHVVRULHV(ODVWRPHULFSXPSVDQGSKDUPDF\DGPL[WXUHVXSSOLHVDUHDOVRDSDUWRIWKLVFDWHJRU\
35235,(7$5<$1'&21),'(17,$/%<35(0,(5385&+$6,1*3$571(56/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5385&+$6,1*3$571(56/3
,QWHUPHGLDWH/HYHO'LVLQIHFWDQW:LSHV(IIHFWLYH0D\
([SLUHV$SULO
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVGLVLQIHFWDQWZLSHVXVHGWRGLVLQIHFWSDWLHQW
FDUHDUHDVDQGHTXLSPHQWLQEHWZHHQSDWLHQWXVH6RPH
LQWHUPHGLDWHOHYHOGLVLQIHFWDQWVSUD\VDUHDOVRLQFOXGHGLQWKLV
FDWHJRU\
6XSSOLHU
1HZ
([SLULQJ
3316 3316
&ODVVRIWUDGH
3316 3316
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHV
3316 3316
5\DQ
2VPXQGVRQ
&HUWRO
[
3316 3316
URVPXQGVRQ#FHUWROFRP
3316 3316
$616 $616
&ORUR[
.DWH'HDQ
NDWHGHDQ#FORUR[FRP
&HUWROLVDVPDOOEXVLQHVVHQWHUSULVH 6%( +HFWRU
KHFWRUHVSDLOODW#VHDOHGDLU
'LYHUVH\
FRP
(VSDLOODW
6WHSKDQLH
VWHSKDQLHPH\HU#PHWUH[F
0HWUH[
)LQDQFLDOFRQVLGHUDWLRQV
0H\HU
RP
x %UDFNHWVDQGLQVWDOODWLRQFRVWV
-HQQLIHU
3',
MHQQLIHUUKRGD#SGLKFFRP
x ,IGLVLQIHFWDQWGULHVRQVXUIDFH
0DUVK
EHIRUHNLOOWLPHLVUHDFKHGPXVW
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWRGDWH
FRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
UHDSSO\
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHURUKLJKHUZLWKDOOVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV 2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
x
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x &'&JXLGHOLQHVIRUGLVLQIHFWLRQ
x 'HYLFHHTXLSPHQWFHUWLILFDWLRQ
x &RQWDFWNLOOWLPHUHTXLUHPHQWV
x $FWLYHLQJUHGLHQWV
x 3HUFHQWRIDOFRKROLQWKHSURGXFW
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x &RQYHUVLRQFRVWV
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
&HUWRORIIHUVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKH
H[SLULQJDJUHHPHQW
&ORUR[RIIHUVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
'LYHUVH\RIIHUVDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0HWUH[RIIHUVDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
3',RIIHUIODWSULFLQJXSWRSHUFHQWVDYLQJVFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&HUWROLVWKHORZFRVWVXSSOLHURQFURVVHGLWHPV
3',LVWKHRYHUDOOORZFRVWVXSSOLHU
$YDLODEOHWKURXJKGLVWULEXWLRQ&HUWRO&ORUR['LYHUVH\0HWUH[DQG3',
$YDLODEOHGLUHFW&HUWRO'LYHUVH\DQG3',
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
,QWHUPHGLDWH/HYHO'LVLQIHFWDQW:LSHV(IIHFWLYH0D\
([SLUHV$SULO
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EH
EURNHQ
x 3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
x 3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
x
x
+LJK/HYHO'LVLQIHFWDQWV&KHPLFDOVWKDWDUHFDSDEOHRINLOOLQJEDFWHULDYLUXVHVDQGEDFWHULDOVSRUHV
ZKHQXVHGLQVXIILFLHQWFRQFHQWUDWLRQXQGHUVXLWDEOHFRQGLWLRQVDQGDUHSULPDULO\XVHGWRGLVLQIHFWVHPL
FULWLFDOLWHPV
+LJK/HYHO'LVLQIHFWLRQ5HSURFHVVLQJ5HSURFHVVLQJVHUYLFHVIRUVHPLFULWLFDODQGQRQFULWLFDOVLQJOH
XVHGHYLFHV
+RXVHNHHSLQJ3URGXFWV3URGXFWVXVHGZLWKLQDOOLQWHUQDOIDFLOLW\DUHDVWRGLVLQIHFWDQGFOHDQJHQHUDO
VXUIDFHDUHDVDQGIORRULQJ
,QVWUXPHQW&OHDQHUVDQG(Q]\PDWLFV'HWHUJHQWVHQ]\PDWLFVULQVHVDQGOXEULFDQWVIRUPDQXDORU
PHFKDQLFDOFOHDQLQJ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
,9)OXLGV%DJEDVHG'UXJ'HOLYHU\DQG7310DFURQXWULHQWV
(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVLQWUDYHQRXV ,9 IOXLGV ERWKVPDOODQGODUJH
YROXPHSDUHQWHUDOV EDJEDVHGGUXJGHOLYHU\V\VWHPVDQGWRWDO
SDUHQWHUDOQXWULWLRQ 731 PDFURQXWULHQWV DPLQRDFLGVGH[WURVHDQG
LQWUDYHQRXVIDWHPXOVLRQV $JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
%D[WHU
'DYLG
6KHOOHQEHUJHU
GDYLGBVKHOOHQEHUJHU#ED[WHU
FRP
%%UDXQ
%LOO0LOOHU
ELOOPLOOHU#EEUDXQFRP
'ULS'URS
%ULDQ&RXUWQH\ EULDQFRXUWQH\#GULSGURSFRP
+256
&DQGDFH
)OHPLQJ
FDQGDFH#KRUVFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$XJXVW)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RU
HOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHU
ZLWKERWKVXSSOLHUV
%D[WHUDQG%%UDXQDOVRUHTXLUHDOHWWHURISDUWLFLSDWLRQRU
OHWWHURIFRPPLWPHQWWRRSHUDWLRQDOL]HWKHDJUHHPHQWIRU
VSHFLILFWLHUVRUYDOXHDGGV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQIRU%D[WHULVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVZLWK
WKHDELOLW\WRFRQWUROSXUFKDVLQJGHFLVLRQVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNV
$JJUHJDWLRQIRU%%UDXQLVQRWDOORZHG
2WKHUNH\YDOXHDQGWHUPV
x
x
x
6XSSOLHU
1HZ
3ULFLQJLVILUPZLWK%D[WHUIRUPRQWKVWKHUHDIWHUSULFLQJPD\
LQFUHDVHXSWRSHUFHQWDQQXDOO\LQDJJUHJDWH
%D[WHURIIHUVDQHDUO\SD\PHQWGLVFRXQWRISHUFHQWLISDLG
ZLWKLQGD\VRILQYRLFHGDWH
%D[WHURIIHUVSHUIRUPDQFHJURXSUHEDWHVDQGJURZWKUHEDWHV
([SLULQJ
33,9 33,9
&ODVVRIWUDGH
x
$ZDUGHGVXSSOLHUV
33,9 33,9
6',9
1HZ
6',9
1HZ
7KHFXUUHQWDJUHHPHQWZLWK+RVSLUD 33,9 H[SLUHV-DQXDU\
0HPEHUVZKRQHHGWRFRQWLQXHWRSXUFKDVH
SURGXFWVIURP+RVSLUDDUHHQFRXUDJHGWRVLJQD
ORFDODJUHHPHQWZLWKDVWDUWGDWHEHIRUH-DQXDU\
&RQVLGHURSSRUWXQLWLHVZLWK3UHPLHU
FRQWUDFWHG,9VXSSOLHUV
8SGDWH-XQH7KHDJUHHPHQWZLWK'ULS'URS
KDVEHHQWHUPLQDWHGHIIHFWLYH6HSWHPEHU
'ULS'URSDQG+256DUH6(('6VXSSOLHUV
VPDOOEXVLQHVVHQWHUSULVHV 6%(V HIIHFWLYH
6HSWHPEHU7KH\KDYHEHHQDGGHGIRURUDO
UHK\GUDWLRQWKHUDS\SURGXFWV
)LQDQFLDOFRQVLGHUDWLRQV
x 3UHPLXPSULFHRQFHUWDLQEDJEDVHG
GUXJGHOLYHU\V\VWHPVGXHWRSUH
PL[HGVWDWH
x 3RWHQWLDOIRUGUXJZDVWH
x 5HEDWHV
x 3ULFHSURWHFWLRQ
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x %DUFRGLQJDQGODEHOLQJ
x &RQYHQLHQFHDQGHDVHRIXVH
x $YDLODELOLW\RIUHDG\WRXVHSURGXFWV
x $ELOLW\WRVWDQGDUGL]HWRSUHPL[HG
SURGXFWFRQFHQWUDWLRQVDQGFRQWDLQHU
YROXPH
5RDGEORFNVWRFRQYHUVLRQ
x &URVVFDWHJRU\YDOXHDGGVDQGWLHUV
x /LSLGVDUHRQO\DYDLODEOHWKURXJK
%D[WHUDWWKLVWLPH
x 3URGXFWDYDLODELOLW\GXHWRGUXJ
VKRUWDJHV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5385&+$6,1*3$571(56/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5385&+$6,1*3$571(56/3
,9)OXLGV%DJEDVHG'UXJ'HOLYHU\DQG7310DFURQXWULHQWV
(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
2WKHUNH\YDOXHDQGWHUPV FRQWLQXHG x
x
x
x
x
x
%D[WHU¶VQHZDJUHHPHQWSULFLQJKDVRYHUDOOLQFUHDVHVRISHUFHQWLQ,9IOXLGVSHUFHQWLQEDJEDVHGGUXJ
GHOLYHU\DQGSHUFHQWLQ731PDFURQXWULHQWVFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
3ULFLQJLVILUPZLWK%%UDXQIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHE\SHUFHQW
%%UDXQ¶VQHZDJUHHPHQWSULFLQJKDVRYHUDOOLQFUHDVHVRISHUFHQWLQ,9IOXLGVSHUFHQWLQEDJEDVHGGUXJ
GHOLYHU\DQGSHUFHQWLQ731PDFURQXWULHQWVFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
%%UDXQLVWKHORZFRVWVXSSOLHULQ,9IOXLGVEDJEDVHGGUXJGHOLYHU\DQG731PDFURQXWULHQWV
$YDLODEOHWKURXJKGLVWULEXWLRQ%D[WHUDQG%%UDXQ
$YDLODEOHGLUHFW%D[WHUDQG%%UDXQ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
&RVWPRGHOLQJWRRO$Q([FHOVSUHDGVKHHWWKDWDOORZV\RXWRFRPSDUH,9FRVWVZLWKLQ\RXUIDFLOLW\WRJDXJH
VDYLQJVRSSRUWXQLWLHV
6(('6XSGDWHVXPPDU\$3')XSGDWHGRFXPHQWSURYLGLQJLQIRUPDWLRQDERXW6(('6VXSSOLHU V DGGHG
WRWKHFDWHJRU\7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRULHV
x
x
x
x
x
'LVLQIHFWLRQ&DSV$OFRKROEDVHGGLVLQIHFWLRQFDSVXVHGWRGLVLQIHFWWKHKXERI,9YDOYHV
,QIXVLRQ'HYLFHVDQG'HYLFHGHGLFDWHG6HWV/DUJHYROXPHLQIXVLRQWKHUDS\SXPSV,9WKHUDS\SDLQ
PDQDJHPHQWSXPSV VSHFLILFWRQDUFRWLFVDQWLELRWLFVRUFKHPRWKHUDS\ ,9V\ULQJHSXPSVWXELQJDQG
VHWV,9DPEXODWRU\SXPSVWXELQJDQGVHWVDQGPHGLFDWLRQPDQDJHPHQWVRIWZDUHLQFOXGLQJDGYHUVH
GUXJHYHQWWUDFNLQJDQGPDQDJHPHQWV\VWHPV
,QIXVLRQ6HWVDQG$FFHVVRULHV,9JUDYLW\WXELQJVHWVH[WHQVLRQVHWVZLWKRXWQHHGOHOHVVFRQQHFWRUV
VWRSFRFNVPDQLIROGVDQG,9WXELQJDFFHVVRULHV
1HHGOHOHVV&RQQHFWRUV'HYLFHVGHVLJQHGWRDOORZFRQQHFWLRQRIPXOWLSOHLQWUDYHQRXVVHWVDQGFDWKHWHU
KXEVZLWKRXWWKHXVHRIQHHGOHV7KLVLQFOXGHVDOOQHHGOHOHVVFRQQHFWRUVZLWKDQGZLWKRXWH[WHQVLRQVHWV
OHVVWKDQLQFKHVDWWDFKHG
3KDUPDF\&RPSRXQGLQJ(TXLSPHQWDQG$GPL[WXUH6XSSOLHV3KDUPDF\FDSLWDOHTXLSPHQWVXFKDV
DXWRPDWHGWRWDOSDUHQWHUDOQXWULWLRQ 731 FRPSRXQGHUVDQGDFFHVVRULHVDQGDXWRPDWHGILOOLQJGHYLFHV
DQGDFFHVVRULHV(ODVWRPHULFSXPSVDQGSKDUPDF\DGPL[WXUHVXSSOLHVDUHDOVRDSDUWRIWKLVFDWHJRU\
35235,(7$5<$1'&21),'(17,$/%<35(0,(5385&+$6,1*3$571(56/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5385&+$6,1*3$571(56/3
,96LWH0DQDJHPHQWDQG$FFHVVRULHV
(IIHFWLYH-DQXDU\
([SLUHV'HFHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVNLWVDQGSURGXFWVXVHGLQWKHPDLQWHQDQFHRI
,9LQVHUWLRQVLWHV HJ,9VWDUWNLWVFHQWUDOOLQHGUHVVLQJNLWV,9
FDWKHWHUVHFXUHPHQWGHYLFHV &DWKHWHUVDUHQRWLQFOXGHGLQWKLV
FDWHJRU\DQGFDQEHIRXQGLQRWKHU3UHPLHUFDWHJRULHV
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
VFRWWKHQVOH\#LYZDWFKFR
P
GRWWLHOHZD\#OVOKHDOWKFDUH
/6/
'RWWLH/HZD\ FRP
0HGLFDO
0RUJDQ
PRUJDQSDWWRQ#RZHQV
$FWLRQ
3DWWRQ
[
PLQRUFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI)HEUXDU\)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
LY:DWFK
6FRWW
+HQVOH\
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHURUKLJKHUZLWKERWKVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVZLWKERWKVXSSOLHUV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPZLWKERWKVXSSOLHUV
/6/RIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJ
DJUHHPHQW
/6/LVWKHRYHUDOOORZFRVWVXSSOLHUIRUFXVWRPNLWVEDVHGRQWKH
VFHQDULRDQDO\VLV
/6/RIIHUVDFRQYHUVLRQUHEDWH
0HGLFDO$FWLRQRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWR
WKHH[SLULQJDJUHHPHQW
0HGLFDO$FWLRQRIIHUVOR\DOW\FRQYHUVLRQDQGJURZWKUHEDWHV
$YDLODEOHWKURXJKGLVWULEXWLRQ/6/DQG0HGLFDO$FWLRQ
$YDLODEOHGLUHFW/6/DQG0HGLFDO$FWLRQ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWH
LQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316
1HZ
3316
3316
3316 3316
$616 $616
3364
1HZ
$664
/6/LVDPLQRULW\EXVLQHVVHQWHUSULVH 0%( 7KHFXUUHQWDJUHHPHQWZLWK&DUGLQDO 3316
H[SLUHV'HFHPEHU
66*OREDOSDUWQHUVZLWK0HGLFDO$FWLRQLQ
WKLVVSDFHRIIHULQJ6.8VWRKHOSZLWK6.8
VWDQGDUGL]DWLRQ6HHWKH3UHPLHU3UR
SURGXFWVODXQFKGRFXPHQWIRUGHWDLOV
LY:DWFKKDVEHHQDZDUGHGD7HFKQRORJ\
%UHDNWKURXJKFRQWUDFWHIIHFWLYH)HEUXDU\
)LQDQFLDOFRQVLGHUDWLRQV
x 6WDQGDUGNLWFRVWYVFXVWRPNLW
FRVW
x .LWFRVWYDULDQFHVIRUEUDQGDQG
SURGXFWW\SH
x 9DOXHDGGVHJUHEDWHV
x 0LQLPXPRUGHUUHTXLUHPHQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x &'&JXLGHOLQHVRQPD[EHUULHU
VNLQSUHSDUDWLRQDQGVLWHGUHVVLQJV
x .LWWUD\VWHULOLW\
x 3DWLHQWDOOHUJLHV
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
,96LWH0DQDJHPHQWDQG$FFHVVRULHV
(IIHFWLYH-DQXDU\
([SLUHV'HFHPEHU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUFXVWRPL]DWLRQIRUPHPEHU
VSHFLILFQHHGV7KHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7RPDLQWDLQOLQNLQWHJULW\
SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVDOVRLQFOXGHG
7HFKQRORJ\%UHDNWKURXJKFRQWUDFWDQQRXQFHPHQW$3')XSGDWHGRFXPHQWSURYLGLQJLQIRUPDWLRQDERXW
7HFKQRORJ\%UHDNWKURXJKDZDUGHGVXSSOLHU V DGGHGWRWKHFDWHJRU\7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRULHV
x
x
x
x
x
x
&DWKHWHU7XEH6HFXUHPHQWDQG6WDELOL]DWLRQ3URGXFWV6XWXUHOHVVVHFXUHPHQWDQGVWDELOL]DWLRQSURGXFWV
WKDWHQDEOHKHDOWKFDUHZRUNHUVWRGHOLYHUIOXLGVPHGLFDWLRQVRUWRGUDLQERGLO\IOXLGV
&HQWUDO9HQRXV$FFHVV3URGXFWV&HQWUDOYHQRXVDFFHVVFDWKHWHUVVKHDWKVGLODWRUVDQGNLWV
&XVWRP3URFHGXUH7UD\V6SHFLILFDOO\GHVLJQHGSDFNVWKDWFRPELQHWKHGLVSRVDEOHLWHPVQHHGHGIRUVSHFLILF
VXUJLFDOSURFHGXUHV
3,&&DQG0LGOLQH$FFHVV3URGXFWV3HULSKHUDOO\LQVHUWHGFHQWUDOYHQRXVFDWKHWHUV 3,&&V PLGOLQHFDWKHWHUV
DQGVXSSOLHV
6WHULOH3DFNVDQG*RZQV6WDQGDUGL]HGGUDSHVDQGJRZQVXVHGGXULQJVXUJLFDOSURFHGXUHVWKDWDUHDYDLODEOH
LQDYDULHW\RIVWDQGDUGFRQILJXUDWLRQV
6DIHW\,9&DWKHWHUV,9VWDUWFDWKHWHUVHTXLSSHGZLWKDVDIHW\GHYLFHWRSUHYHQWDFFLGHQWDOQHHGOHVWLFNV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
/RZ)UHTXHQF\8OWUDVRQLF:RXQG7KHUDS\
(IIHFWLYH0D\
([SLUHV$SULO
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVQRQFRQWDFWORZIUHTXHQF\XOWUDVRXQGZRXQG
WKHUDS\WKDWLVLQGLFDWHGWRSURPRWHZRXQGKHDOLQJXVLQJVRXQGZDYHV
WRPHFKDQLFDOO\VWLPXODWHFHOOVZKLFKUHGXFHVEDFWHULDELRILOPDQG
VXVWDLQHGLQIODPPDWLRQZKLOHSURPRWLQJEORRGIORZDQJLRJHQHVLVDQG
FROODJHQGHSRVLWLRQ
&ODVVRIWUDGH
x
x
$OOLTXDLVDYDLODEOHWRDFXWHFDUHDQGQRQDFXWHKHDOWKFDUH
PHPEHUVRQO\
$UREHOODLVDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
$OOLTXD
:HV
6QRGJUDVV
ZVQRGJUDVV#DOOLTXDFRP
$UREHOOD
.\OH3DWULFN
NSDWULFN#DUREHOODFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0D\)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKERWKVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWKERWKVXSSOLHUV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316
1HZ
3316
1HZ
$UREHOODLVDVPDOOEXVLQHVVHQWHUSULVH 6%( $OOLTXDDFTXLUHG&HOOHUDWLRQLQ-XQH
7KHUHLVQR$6&(1'DZDUGLQWKLVFDWHJRU\
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x $FTXLVLWLRQRSWLRQVLHUHQWDOYV
SXUFKDVH
x (DUO\SD\PHQWGLVFRXQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x ,QIHFWLRQSUHYHQWLRQ
x ,PSURYHGKHDOLQJWLPH
x &OLQLFLDQHDVHRIXVH
x /LPLWHGRUQRSDLQWUHDWPHQWIRUWKH
SDWLHQW
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
3ULFLQJLVILUPIRUWKHWHUPZLWKERWKVXSSOLHUV
$OOLTXDRIIHUVDQRQFRQWDFWORZIUHTXHQF\XOWUDVRXQG
$OOLTXDRIIHUVSXUFKDVHDQGUHQWDODFTXLVLWLRQRSWLRQV
$UREHOODRIIHUDQRQFRQWDFWORZIUHTXHQF\XOWUDVRXQGDQGDFRQWDFWGHEULGHU
$UREHOOVRIIHUVSXUFKDVHUHQWDODQGE\WKHPLQXWHDFTXLVLWLRQRSWLRQV
$YDLODEOHGLUHFW$OOLTXDDQG$UREHOOD
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRULHV
x
x
1HJDWLYH3UHVVXUH:RXQG7KHUDS\7UHDWPHQWV\VWHPVGHVLJQHGWRIDFLOLWDWHKHDOLQJRIZRXQGVZLWKQHJDWLYH
SUHVVXUHWRWKHZRXQGVLWH7KHVHV\VWHPVFRQVLVWRIGUHVVLQJVDQHYDFXDWLRQWXEHDFROOHFWLRQFDQLVWHUDQGD
YDFXXPSXPS
5HJHQHUDWLYH6NLQ*UDIWLQJ3URGXFWV3URGXFWVXVLQJYDULRXVWHFKQRORJLHVWKDWHQKDQFHWKHELRORJLFDO
SULQFLSOHVRIWLVVXHUHVSRQVHWRLQMXU\IRFXVLQJRQWLVVXHUHJHQHUDWLRQDQGVNLQUHSODFHPHQW
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
0RELOLW\$LGV
(IIHFWLYH$XJXVWWKURXJK-XO\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVPRELOLW\DLGGHYLFHVGHVLJQHGWRDVVLVWZDONLQJRU
LPSURYHWKHPRELOLW\RISHRSOHZLWKDQLPSDLUPHQW7KHVHLQFOXGHEXWDUH
QRWOLPLWHGWRFUXWFKHVFDQHVZDONHUVZKHHOFKDLUVDQGPRWRUL]HG
VFRRWHUV7KLVFDWHJRU\DOVRLQFOXGHVRWKHUGHYLFHVWRDVVLVWLQDFWLYLWLHVRI
GDLO\OLYLQJLQFOXGLQJVKRZHUFKDLUVVXSSRUWEDUVDQGFRPPRGHFKDLUV
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWKDOOVXSSOLHUV
&ODVVRIWUDGH
x
x
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHVZLWK0HGZKHHOVDQG66
&DUGLQDODQG0HGOLQHDUHDYDLODEOHWRVHOHFWKHDOWKFDUHFODVVHVRI
WUDGH6HHDSSHQGLFHV$DQG$RU([KLELW%IRUGHWDLOVRQ
VSHFLILFFODVVRIWUDGHDYDLODELOLW\
1HZ
3316
33$&
$616
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKDOOVXSSOLHUV
3316
3316
3316 336.
$616 $66.
1HZ
0HGZKHHOVLVDPLQRULW\RZQHGEXVLQHVVHQWHUSULVH
0%( &XUUHQWDJUHHPHQWVZLWK$OFR 33$& DQG
'ULYH 33$& H[SLUH-XO\
$6&(1'7KLVFDWHJRU\KDVEHHQGHVLJQDWHG
DVEDVH9LVLWWKH$6&(1'SRUWDOIRU$6&(1'
ODXQFKPDWHULDOV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOV
x 0HGOLQH¶VQHZDJUHHPHQWSULFLQJKDVDSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 66¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 66LVWKHORZFRVWVXSSOLHURQFURVVHGLWHPV
&DUGLQDORIIHUVJUDQGIDWKHULQJIRUPHPEHUVZLWKORFDOO\QHJRWLDWHGSULFLQJ
0HGZKHHOVRIIHUVDSXUFKDVHYROXPHUHEDWHRIXSWRSHUFHQW
$YDLODEOHWKURXJKGLVWULEXWLRQ&DUGLQDO0HGOLQH0HGZKHHOVDQG66
$YDLODEOHGLUHFW0HGOLQH0HGZKHHOVDQG66 FDVHPLQLPXPIRUGLUHFWVKLSPHQW 6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
x
x
&DUGLQDO+HDOWK%RE*ORYHUEREJORYHU#FDUGLQDOKHDOWKFRP
0HGOLQH,QGXVWULHV,QF'HUULFN)LWFKHQDGILWFKHQD#PHGOLQHFRP
0HGZKHHOV,QF-DQH*RQ]DOH]MJRQ]DOH]#PHGZKHHOVFRP
66*OREDO&KULV0F&DZFKULVBPFFDZ#SUHPLHULQFFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0D\)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
5HODWHGFDWHJRULHV
x
x
3K\VLFDO7KHUDS\3K\VLFDOWKHUDS\SURGXFWVDQGH[HUFLVHHTXLSPHQWXVHGWRSURYLGHWKHUDS\DLPHGDWGHYHORSLQJ
PDLQWDLQLQJDQGUHVWRULQJPD[LPXPPRYHPHQWDQGIXQFWLRQDODELOLW\ LQFOXGLQJUROODWRUV 6WUHWFKHUV6WUHWFKHUVDQGVWUHWFKHUDFFHVVRULHVLQFOXGLQJWUHDWPHQWDQGWUDQVSRUWVWUHWFKHUFKDLUV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
0RELOLW\$LGV
(IIHFWLYH$XJXVWWKURXJK-XO\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
x 3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLV
GRFXPHQWLVXQDEOHWREHHGLWHG
x 3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG 35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
1HHGOHOHVV&RQQHFWRUV
(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\FRQVLVWVRIGHYLFHVGHVLJQHGWRDOORZFRQQHFWLRQRI
PXOWLSOHLQWUDYHQRXV ,9 VHWVDQGFDWKHWHUKXEVZLWKRXWWKHXVHRI
QHHGOHV7KLVLQFOXGHVDOOQHHGOHOHVVFRQQHFWRUVZLWKDQGZLWKRXW
H[WHQVLRQVHWVOHVVWKDQLQFKHVDWWDFKHG
6XSSOLHU
'DYLG
6KHOOHQEHUJHU
GDYLGBVKHOOHQEHUJHU#ED[WHU
FRP
%%UDXQ
%LOO0LOOHU
ELOOPLOOHU#EEUDXQFRP
&DUH)XVLRQ
&KXFN&ROOLV
FKDUOHVBFROOLV#EGFRP
PMRUJHQVHQ#LFXPHGFRP
DFDXGHOO#QH[XVPHGLFDOFRP
1H[XV
0DUN
-RUJHQVHQ
$QJHOD
&DXGHOO
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0D\)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RU
HOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHU
ZLWKDOOVXSSOLHUV
%D[WHUDQG%%UDXQDOVRUHTXLUHDOHWWHURISDUWLFLSDWLRQRU
OHWWHURIFRPPLWPHQWWRRSHUDWLRQDOL]HWKHDJUHHPHQWIRU
VSHFLILFWLHUVRUYDOXHDGGV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
x
$JJUHJDWLRQIRU%D[WHULVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVZLWK
WKHDELOLW\WRFRQWUROSXUFKDVLQJGHFLVLRQVJURXSSXUFKDVLQJ
RUJDQL]DWLRQV *32V DQGHVWDEOLVKHGQHWZRUNV
$JJUHJDWLRQIRU%%UDXQLVQRWDOORZHG $JJUHJDWLRQIRU&DUH)XVLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV
*32VDQGHVWDEOLVKHGQHWZRUNV
$JJUHJDWLRQIRU,&80HGLFDOLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV
ZLWKWKHDELOLW\WRFRRUGLQDWHSXUFKDVLQJGHFLVLRQV*32VDQG
HVWDEOLVKHGQHWZRUNV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
33,9 33,9
33,9 33,9
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
%D[WHU
([SLULQJ
33,9 33,9
&ODVVRIWUDGH
,&80HGLFDO
1HZ
33,9 33,9
33,9
1HZ
&XUUHQWDJUHHPHQWVZLWK+RVSLUD
33,9 DQG6PLWKV0HGLFDO 33,9 H[SLUH
-DQXDU\
0HPEHUVZKRQHHGWRFRQWLQXHWRSXUFKDVH
SURGXFWVIURP+RVSLUDDUHHQFRXUDJHGWRVLJQD
ORFDODJUHHPHQWZLWKDVWDUWGDWHEHIRUH-DQXDU\
&RQVLGHURSSRUWXQLWLHVZLWK3UHPLHU
FRQWUDFWHG,9VXSSOLHUV
8SGDWH$XJXVW1H[XVKDVEHHQDZDUGHGD
7HFKQRORJ\%UHDNWKURXJKFRQWUDFWHIIHFWLYH$XJXVW
)LQDQFLDOFRQVLGHUDWLRQV
x 3RWHQWLDOWLHUVKLIWV
x 7UDLQLQJQHHGHGWRFKDQJHW\SHRI
FRQQHFWRUZLWKLQ\RXUIDFLOLW\
x 9DOXHDGGV
x 3ULFHSURWHFWLRQ
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 1HHGOHVWLFNSUHYHQWLRQ
x %ORRGVWUHDPLQIHFWLRQUDWHV
5RDGEORFNVWRFRQYHUVLRQ
x &URVVFDWHJRU\YDOXHDGGVDQG
WLHUV
x &XUUHQW,9WKHUDS\VXSSOLHUVEHLQJ
XVHGLQWKHIDFLOLW\
%D[WHU&DUH)XVLRQDQG,&80HGLFDORIIHUYDOXHDGGV
3ULFLQJLVILUPZLWK%D[WHUIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWDQQXDOO\LQDJJUHJDWH
%D[WHURIIHUVDQHDUO\SD\PHQWGLVFRXQWRISHUFHQWLISDLGZLWKLQGD\VRILQYRLFHGDWH
%D[WHU¶VQHZDJUHHPHQWSULFLQJLVDQRYHUDOOLQFUHDVHRISHUFHQWFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
3ULFLQJLVILUPZLWK%%UDXQIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHE\SHUFHQW
35235,(7$5<$1'&21),'(17,$/%<35(0,(5385&+$6,1*3$571(56/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5385&+$6,1*3$571(56/3
1HHGOHOHVV&RQQHFWRUV
(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
2WKHUNH\YDOXHDQGWHUPV FRQWLQXHG x
x
x
x
x
x
x
x
%%UDXQ¶VQHZDJUHHPHQWSULFLQJLVDQRYHUDOOVDYLQJVRISHUFHQWFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
3ULFLQJLVILUPZLWK&DUH)XVLRQIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHDQQXDOO\XSWRSHUFHQWRU
FKDQJHDFFRUGLQJWRWKH&RQVXPHU3ULFH,QGH[
x ,IDPHPEHUVLJQVDVL[\HDUELODWHUDODJUHHPHQWLQWKHILUVWPRQWKVRIWKHDJUHHPHQWSULFLQJIRU
GLVSRVDEOHVZLOOEHILPIRUWKHWHUPRIDJUHHPHQW
&DUH)XVLRQ¶VQHZDJUHHPHQWSULFLQJLVDQRYHUDOOVDYLQJVRISHUFHQWFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
3ULFLQJLVILUPZLWK,&80HGLFDOIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWRQDOLQHLWHP
EDVLV
,&80HGLFDO¶VQHZDJUHHPHQWSULFLQJLVDQRYHUDOOVDYLQJVRISHUFHQWFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
,&80HGLFDOLVWKHORZFRVWVXSSOLHULQQHHGOHOHVVFRQQHFWRUV
$YDLODEOHWKURXJKGLVWULEXWLRQ%D[WHU%%UDXQ&DUH)XVLRQDQG,&80HGLFDO
$YDLODEOHGLUHFW%D[WHU%%UDXQDQG&DUH)XVLRQ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
&RVWPRGHOLQJWRRO$Q([FHOVSUHDGVKHHWWKDWDOORZV\RXWRFRPSDUH,9FRVWVZLWKLQ\RXUIDFLOLW\WRJDXJH
VDYLQJVRSSRUWXQLWLHV
3URGXFWUHIHUHQFHJXLGH$Q([FHOVSUHDGVKHHWZLWKGHWDLOHGLQIRUPDWLRQRQWKHFULWLFDOVSHFLILFDWLRQVRIHDFK
VXSSOLHU¶VQHHGOHOHVVFRQQHFWRUV
7HFKQRORJ\%UHDNWKURXJKFRQWUDFWDQQRXQFHPHQW$3')XSGDWHGRFXPHQWSURYLGLQJLQIRUPDWLRQDERXW
7HFKQRORJ\%UHDNWKURXJKDZDUGHGVXSSOLHU V DGGHGWRWKHFDWHJRU\7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRULHV
x
x
x
x
x
'LVLQIHFWLRQ&DSV$OFRKROEDVHGGLVLQIHFWLRQFDSVXVHGWRGLVLQIHFWWKHKXERI,9YDOYHV
,QIXVLRQ'HYLFHVDQG'HYLFHGHGLFDWHG6HWV/DUJHYROXPHLQIXVLRQWKHUDS\SXPSV,9WKHUDS\SDLQ
PDQDJHPHQWSXPSV VSHFLILFWRQDUFRWLFVDQWLELRWLFVRUFKHPRWKHUDS\ ,9V\ULQJHSXPSVWXELQJDQG
VHWV,9DPEXODWRU\SXPSVWXELQJDQGVHWVDQGPHGLFDWLRQPDQDJHPHQWVRIWZDUHLQFOXGLQJDGYHUVH
GUXJHYHQWWUDFNLQJDQGPDQDJHPHQWV\VWHPV
,QIXVLRQ6HWVDQG$FFHVVRULHV,9JUDYLW\WXELQJVHWVH[WHQVLRQVHWVZLWKRXWQHHGOHOHVVFRQQHFWRUV
VWRSFRFNVPDQLIROGVDQG,9WXELQJDFFHVVRULHV
,9)OXLGV%DJEDVHG'UXJ'HOLYHU\DQG7310DFURQXWULHQWV,9IOXLGV ERWKVPDOODQGODUJHYROXPH
SDUHQWHUDOV EDJEDVHGGUXJGHOLYHU\V\VWHPVDQGWRWDOSDUHQWHUDOQXWULWLRQ 731 PDFURQXWULHQWV DPLQR
DFLGVGH[WURVHDQGLQWUDYHQRXVIDWHPXOVLRQV 3KDUPDF\&RPSRXQGLQJ(TXLSPHQWDQG$GPL[WXUH6XSSOLHV3KDUPDF\FDSLWDOHTXLSPHQWVXFKDV
DXWRPDWHGWRWDOSDUHQWHUDOQXWULWLRQ 731 FRPSRXQGHUVDQGDFFHVVRULHVDQGDXWRPDWHGILOOLQJGHYLFHV
DQGDFFHVVRULHV(ODVWRPHULFSXPSVDQGSKDUPDF\DGPL[WXUHVXSSOLHVDUHDOVRDSDUWRIWKLVFDWHJRU\
35235,(7$5<$1'&21),'(17,$/%<35(0,(5385&+$6,1*3$571(56/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5385&+$6,1*3$571(56/3
1HJDWLYH3UHVVXUH:RXQG7KHUDS\
(IIHFWLYH-XQH
([SLUHV0D\
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHU
7KLVFDWHJRU\LQFOXGHVWUHDWPHQWV\VWHPVGHVLJQHGWRIDFLOLWDWH
KHDOLQJRIZRXQGVZLWKQHJDWLYHSUHVVXUHWRWKHZRXQGVLWH7KHVH
V\VWHPVFRQVLVWRIGUHVVLQJVDQHYDFXDWLRQWXEHDFROOHFWLRQFDQLVWHU
DQGDYDFXXPSXPS
6XSSOLHU
&ODVVRIWUDGH
x
x
,+7LVDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG3UHPLHU
5($&+PHPEHUV
.&,LVDYDLODEOHWRKRVSLWDOVDFXWHIDFLOLWLHVIUHHVWDQGLQJ
VXUJLFDOFHQWHUVORQJWHUPFDUHDQGDPEXODWRU\FDUHFHQWHUV
$P\
*HQDG\QH
DP\I#JHQDG\QHFRP
)ULHGPDQ
,QWHJUDWHG &DVVDQGUD
FDVVDQGUDJHXULQ#LKWZRXQG
+HDOLQJ
FDUHFRP
*HXULQ
[
*UHJ
.&,
JJDUODQG#DFHOLW\FRP
*DUODQG
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-XQH)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
.&,UHTXLUHVHOHFWURQLFSULFHDFWLYDWLRQ 3$ DWDOOWLHUVWR
DFFHVVSULFLQJDQGUHSRUWVDOHV$IWHUWKHLQLWLDOGD\VRIWKH
FRQWUDFWDQ\PHPEHUVZKRKDYHQRWVXEPLWWHGDSULFH
DFWLYDWLRQZLOOEHSODFHGDWOLVWSULFH
,+7RIIHUVDVLQJOHWLHUZKHUHD3DUWLFLSDWLQJ0HPEHU
'HVLJQDWLRQ)RUP 30') RU3$LVQRWUHTXLUHG
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
,+7RIIHUVDVLQJOHWLHUZKHUHDJJUHJDWLRQLVQRWDSSOLFDEOH
.&,DOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGJURXS
SXUFKDVLQJRUJDQL]DWLRQV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
1HZ
([SLULQJ
6'16
1HZ
3316
1HZ
3316
$616
3316
$616
,+7LVDVPDOOEXVLQHVVHQWHUSULVH 6%( .&,$FHOLW\DFTXLUHG6SLUDFXULQ'HFHPEHU
*HQDG\QHLVD6(('6VXSSOLHUPLQRULW\RZQHG
EXVLQHVVHQWHUSULVH 0%( HIIHFWLYH1RYHPEHU
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 3URFXUHPHQWRSWLRQV±SXUFKDVH
IL[HGUHQWDODQGGDLO\UHQWDO
x ,QYHQWRU\WUDFNLQJDQGORVWSXPS
FRQVLGHUDWLRQV
x 7RWDOFRVWRIRZQHUVKLSLQFOXGLQJ
GLVSRVDEOHVDQGELRPHGLFDOFRVWV
x 9DOXHDGGRIIHULQJV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3DWLHQWFRPIRUW
x 3DWLHQWFRPSOLDQFHZLWKWKH
WKHUDS\
x +RVSLWDOWRKRPHWUDQVLWLRQ
DVVLVWDQFH
x %OHHGLQJULVNV
5RDGEORFNVWRFRQYHUVLRQ
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKERWKVXSSOLHUV
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
%RWKVXSSOLHUVRIIHUYDOXHDGGSURJUDPV
x 7UDLQLQJDQGVXSSRUWDYDLODEOH
,+7LVWKHORZFRVWVXSSOLHURQFURVVHGGLVSRVDEOHLWHPV
IURPWKHVXSSOLHU
,+7RIIHUVDQHDUO\SD\PHQWGLVFRXQWRISHUFHQWLISDLGZLWKLQ
x &DSLWDOEXGJHWFRQVWUDLQWV
GD\V
.&,RIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
$YDLODEOHWKURXJKGLVWULEXWLRQ,+7
$YDLODEOHGLUHFW,+7DQG.&,
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
1HJDWLYH3UHVVXUH:RXQG7KHUDS\
(IIHFWLYH-XQH
([SLUHV0D\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHVXPPDU\WKDWDOORZVIRUHGLWVDQG
FXVWRPL]DWLRQIRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHV
PD\EHEURNHQ7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')FDWHJRU\VXPPDU\
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHVXPPDU\WKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
6(('6XSGDWHVXPPDU\$3')XSGDWHGRFXPHQWSURYLGLQJLQIRUPDWLRQDERXW6(('6VXSSOLHU V DGGHGWRWKH
FDWHJRU\7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRULHV
x
x
x
5HJHQHUDWLYH6NLQ*UDIWLQJ3URGXFWV3URGXFWVXVLQJYDULRXVWHFKQRORJLHVWKDWHQKDQFHWKHELRORJLFDO
SULQFLSOHVRIWLVVXHUHVSRQVHWRLQMXU\IRFXVLQJRQWLVVXHUHJHQHUDWLRQDQGVNLQUHSODFHPHQW
6NLQ%UHDNGRZQ3UHYHQWLRQ3URGXFWV3URWHFWLYHERRWVKHHOSURWHFWRUVZKHHOFKDLUFXVKLRQVHOERZ
SURWHFWRUVIRRWGURSSUHYHQWLRQSURGXFWVEHGSRVLWLRQHUVDQGWXUQDQGSRVLWLRQV\VWHPV
6NLQ,QWHJULW\±3UHYHQWLRQ+HDOLQJDQG6XSSRUW&RPELQLQJWKHFDWHJRULHVRI$GYDQFHG:RXQG&DUHDQG
3DWLHQW&OHDQVLQJDQG6NLQ&DUH 7UDGLWLRQDO WKLVFDWHJRU\LQFOXGHVSDWLHQWFOHDQVLQJDQGVNLQFDUHLWHPVXVHG
RQWKHSDWLHQWSRSXODWLRQRYHUWKHDJHRIWZR
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
1HRQDWDO'HYHORSPHQWDO3URGXFWV
(IIHFWLYH1RYHPEHU
([SLUHV2FWREHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVSURGXFWVGHVLJQHGWRDVVLVWWKHGHYHORSPHQWDO
JURZWKDQGUHGXFHVWUHVVRISUHPDWXUHLQIDQWV HJSRVLWLRQHUV
VZDGGOHFORWKVSDGVDQGLQFXEDWRUFRYHUV &ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHV
'DQGOH/,21
6FRWW%HOO
VFRWWEHOO#GDQGOHOLRQPHGLFDO
FRP
5RQ
URQVFLHSNR#SKLOLSVFRP
6FLHSNR
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI6HSWHPEHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
3KLOLSV
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316 33:&
3316 33:&
$616 $6:&
'DQGOH/,21LVDVPDOOEXVLQHVVHQWHUSULVH 6%( &XUUHQWDJUHHPHQWVZLWK1DWXV 33:& DQG6DQGER[ 33:& H[SLUH2FWREHU
$6&(1'7KLVFDWHJRU\KDVEHHQ
GHVLJQDWHGDV5LGJH9LVLWWKH$6&(1'SRUWDO
IRU$6&(1'ODXQFKPDWHULDOV
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKERWKVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
'DQGOH/,21DOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHG
QHWZRUNVRIIDFLOLWLHV
3KLOLSVDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKERWKVXSSOLHUV
'DQGOH/,21KDVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHLUH[SLULQJDJUHHPHQW
3KLOLSVRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHLUH[SLULQJDJUHHPHQW
'DQGOH/,21LVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ'DQGOH/,21 YDULHVE\VWDWH DQG3KLOLSV
$YDLODEOHGLUHFW'DQGOH/,21DQG3KLOLSV
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
1HRQDWDO6SHFLDOW\3URGXFWV&DWKHWHUL]DWLRQWUD\VXULQDU\GUDLQDJHNLWVOXPEDUSXQFWXUHNLWVSHULSKHUDOO\
LQVHUWHGFHQWUDOFDWKHWHU 3,&&V XPELOLFDODUWHU\FDWKHWHUVQHHGOHVEORRGILOWHUV
253DWLHQW3RVLWLRQLQJ3URGXFWV3UHIRUPHGIRDPRUJHOILOOHGSRVLWLRQHUSURGXFWVWKDWDLGLQSDWLHQW
SRVLWLRQLQJDQGSUHYHQWLRQRISUHVVXUHLQMXULHVGXULQJDVXUJLFDOSURFHGXUH
6NLQ%UHDNGRZQ3UHYHQWLRQ3URGXFWV+HHOSURWHFWRUVSURWHFWLYHERRWVHOERZSURWHFWRUVEHGSRVLWLRQHUV
WXUQDQGSRVLWLRQV\VWHPVZKHHOFKDLUFXVKLRQVDQGIRRWGURSSUHYHQWLRQDLGV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
1HRQDWDO6SHFLDOW\3URGXFWV
(IIHFWLYH1RYHPEHU
([SLUHV2FWREHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVFDWKHWHUL]DWLRQWUD\VXULQDU\GUDLQDJHNLWV
OXPEDUSXQFWXUHNLWVSHULSKHUDOO\LQVHUWHGFHQWUDOFDWKHWHU 3,&&V XPELOLFDODUWHU\FDWKHWHUVQHHGOHVEORRGILOWHUVVSLNHVDQGRWKHU
VSHFLDOW\LWHPVHTXLSPHQWGHVLJQHGIRUXVHLQWKHQHRQDWDOSRSXODWLRQ
&ODVVRIWUDGH
x
x
x
.HQWHFDQG1HR0HGDUHDYDLODEOHWRDFXWHFDUHQRQDFXWH
KHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
&RYLGLHQLVDYDLODEOHWRVHOHFWDFXWHFDUHQRQDFXWH
KHDOWKFDUHDQGHGXFDWLRQIDFLOLWLHV6HH$SSHQGL[$LQWKH
YDOXHDQDO\VLVWRRONLWIRUGHWDLOV
0HGHODLVDYDLODEOHWRDFXWHFDUHIDFLOLWLHVRQO\
&RYLGLHQ
*UHJ
*RRGDOO
.HQWHF
3DWWL/LQGOH\ SOLQGOH\#NHQWHFPHGLFDOFRP
JUHJMJRRGDOO#PHGWURQLFFRP
-DVRQ
MDVRQSDWWHUVRQ#PHGHODFRP
3DWWHUVRQ
+LODU\
1HR0HG
KVKHUPDQ#QHRPHGLQFFRP
6KHUPDQ
6DOWHU
0DUN
PODQGRQ#VDOWHUODEVFRP
/DEV
/DQGRQ
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI)HEUXDU\)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
0HGHOD
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316 33:&
$616 $6:&
3316 33:&
3316 33:&
3316 33:&
3316
1HZ
.HQWHFLVDVPDOOEXVLQHVVHQWHUSULVH 6%( &XUUHQWDJUHHPHQWVZLWK$OO0HGLFDO&DUH
6':& 3KLOLSV&KLOGUHQ¶V0HGLFDO
9HQWXUHV 33:& 0DULDQ0HGLFDO 33
:& DQG9\JRQ 33:& H[SLUH
2FWREHU
6DOWHU/DEVKDVEHHQDZDUGHGD7HFKQRORJ\
%UHDNWKURXJKFRQWUDFWHIIHFWLYH)HEUXDU\
$6&(1'7KLVFDWHJRU\KDVEHHQ
GHVLJQDWHGDV5LGJH9LVLWWKH$6&(1'SRUWDO
IRU$6&(1'ODXQFKPDWHULDOV
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURU
KLJKHUZLWK&RYLGLHQDQG0HGHOD
.HQWHFGRHVQRWUHTXLUHD30')3$GXHWRVLQJOHWLHURIIHULQJ
1HR0HGUHTXLUHVD30')3$DWDOOWLHUV
&RYLGLHQUHTXLUHVD3ULPDU\*URXS'HVLJQDWLRQ)RUP 3*') IRUPHPEHUVZKRGRQRWKDYHD3*')RQILOH
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRI
IDFLOLWLHVZLWK.HQWHFDQG0HGHOD
&RYLGLHQDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVZLWKWKHDELOLW\WRLQIOXHQFH
SXUFKDVLQJGHFLVLRQV
1HR0HGDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQDQGHVWDEOLVKHGQHWZRUNV
RIIDFLOLWLHV6XEJURXSVPXVWPHHWVSHQGUHTXLUHPHQWLQGLYLGXDOO\6HH([KLELW$IRUGHWDLOV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWK.HQWHF0HGHODDQG1HR0HG
x &RYLGLHQSULFLQJLVILUPIRUPRQWKVWKHUHDIWHU&RYLGLHQPD\LQFUHDVHSULFHVXSWRSHUFHQW
RQDOLQHLWHPEDVLVIRUHDFKSHUFHQWLQFUHDVHLQDJJUHJDWHFRVW
&RYLGLHQKDVDSHUFHQWLQFUHDVHFRPSDUHGWRWKHLUH[SLULQJDJUHHPHQW
.HQWHFRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRWKHLUH[SLULQJDJUHHPHQW
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
1HRQDWDO6SHFLDOW\3URGXFWV
(IIHFWLYH1RYHPEHU
([SLUHV2FWREHU
2WKHUNH\YDOXHDQGWHUPV FRQWLQXHG x
x
x
x
x
x
0HGHODRIIHUVIODWSULFLQJFRPSDUHGWRWKHLUH[SLULQJDJUHHPHQW
0HGHODRIIHUVDQRFKDUJHHTXLSPHQWUHQWDOYDOXHDGG6HHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
1HR0HGRIIHUVDSHUFHQWVDYLQJVFRPSDUHGWRWKHLUH[SLULQJDJUHHPHQW
.HQWHFLVWKHORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ&RYLGLHQ.HQWHF0HGHODDQG1HR0HG
$YDLODEOHGLUHFW&RYLGLHQ SHUFHQWGLUHFWRUGHUIHH .HQWHF0HGHODDQG1HR0HG
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
7HFKQRORJ\%UHDNWKURXJKFRQWUDFWDQQRXQFHPHQW$3')XSGDWHGRFXPHQWSURYLGLQJLQIRUPDWLRQDERXW
7HFKQRORJ\%UHDNWKURXJKDZDUGHGVXSSOLHU V DGGHGWRWKHFDWHJRU\7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRULHV
x
x
x
)HHGLQJ3XPSV6HWV'HYLFHVDQG7XEHV(QWHUDOIHHGLQJSXPSVWXEHVDQGDGPLQLVWUDWLRQVHWVXVHGIRU
GHOLYHU\RIK\GUDWLRQRUQXWULWLRQWKURXJKWKHGLJHVWLYHWUDFW
1HRQDWDO'HYHORSPHQWDO3URGXFWV3DFLILHUVVXFURVHSRVLWLRQHUVQHVWLQJSURSVEDWKLQJV\VWHPVVZDGGOH
FORWKVSDGVDQGLQFXEDWRUFRYHUV
6WDQGDUG+\SRGHUPLF3URGXFWV6\ULQJHVQHHGOHVWXEHUFXORVLV 7% V\ULQJHVLQVXOLQV\ULQJHVIOXVKV\ULQJHV
KHSDULQIOXVKVDOLQHIOXVKRUDOV\ULQJHVDQGHQWHUDOV\ULQJHV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
2EVWHWULFDO0RQLWRULQJ
(IIHFWLYH6HSWHPEHU
([SLUHV$XJXVW
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVIHWDOVFDOSHOHFWURGHVLQWUDXWHULQHSUHVVXUH
FDWKHWHUVYDFXXPDVVLVWHGGHOLYHU\W\SHGHYLFHVDQGDFFHVVRULHV
7KHFDWHJRU\DOVRLQFOXGHVKDQGKHOGGRSSOHUVIRUERWKREVWHWULFDODQG
FDUGLRYDVFXODUDSSOLFDWLRQW\SHV
6XSSOLHU
7KLVFDWHJRU\ZDVSUHYLRXVO\VRXUFHGDVWZRVHSDUDWHFDWHJRULHV
2EVWHWULFDO0RQLWRULQJ'HYLFHVDQG+DQGKHOG'RSSOHUV
&ODVVRIWUDGH
x
x
EWXOOLV#FOLQLFDOLQQRYDWLRQV
FRP
3KLOOLS
SKLOOLSWRPH\#FRRSHUVXUJLF
DOFRP
7RPH\
*UHJ
JUHJMJRRGDOO#PHGWURQLFF
&RYLGLHQ
*RRGDOO
RP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$XJXVW)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
%LOO\7XOOLV
3316 33:&
&OLQLFDO,QQRYDWLRQVDQG&RRSHU6XUJLFDODUHDYDLODEOHWRDFXWH
FDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
&RYLGLHQLVDYDLODEOHWRVHOHFWDFXWHFDUHQRQDFXWH
KHDOWKFDUHDQGHGXFDWLRQIDFLOLWLHV6HH$SSHQGL[$LQWKH
YDOXHDQDO\VLVWRRONLWIRUGHWDLOV
&OLQLFDO
,QQRYDWLRQV
&RRSHU
6XUJLFDO
1HZ
([SLULQJ
3316 33:&
$616 $6:&
33:&
3316 33:&
&XUUHQW+DQG+HOG'RSSOHUDJUHHPHQWVZLWK
$UMR+XQWOHLJK 33:& DQG1HZPDQ
0HGLFDO 33:& H[SLUH-XO\
$6&(1'7KLVFDWHJRU\KDVEHHQ
GHVLJQDWHGDV5LGJH9LVLWWKH$6&(1'SRUWDO
IRU$6&(1'ODXQFKPDWHULDOV
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHURU
KLJKHUZLWK&OLQLFDO,QQRYDWLRQVDQG&RYLGLHQ
$30')3$LVQRWUHTXLUHGIRU&RRSHU6XUJLFDOGXHWRVLQJOHWLHURIIHULQJ
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
ZLWKDOOVXSSOLHUV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWK&OLQLFDO,QQRYDWLRQVDQG&RRSHU6XUJLFDO
x &RYLGLHQSULFLQJLVILUPIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWRQDOLQH
LWHPEDVLVIRUHDFKSHUFHQWLQFUHDVHLQDJJUHJDWHFRVW
&OLQLFDO,QQRYDWLRQVRIIHUVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RRSHU6XUJLFDORIIHUVSHUFHQWVDYLQJVRYHUDOOIRUKDQGKHOGGRSSOHUVDQGIODWSULFLQJIRU2%PRQLWRULQJ
SURGXFWVFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RYLGLHQRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RYLGLHQLVWKHORZFRVWVXSSOLHUDWWKHWRSWLHUIRU2%PRQLWRULQJSURGXFWV
$YDLODEOHWKURXJKGLVWULEXWLRQ&OLQLFDO,QQRYDWLRQV&RRSHU6XUJLFDODQG&RYLGLHQ
$YDLODEOHGLUHFW&OLQLFDO,QQRYDWLRQV&RRSHU6XUJLFDODQG&RYLGLHQ SHUFHQWGLUHFWRUGHUIHH 1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
2EVWHWULFDO0RQLWRULQJ
(IIHFWLYH6HSWHPEHU
([SLUHV$XJXVW
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x
x
+LJK5LVN2%*<1±0HG6XUJ3URGXFWV3URGXFWVXVHGWRWUHDWFRQGLWLRQVRIYDULRXVKLJKULVNREVWHWULFDODQG
J\QHFRORJLFDOGLVRUGHUVLQFOXGLQJEXWQRWOLPLWHGWRSRVWSDUWXPKHPRUUKDJHIHWDOVXUJHULHVDQG
K\VWHURVDOSLQJRJUDSK\SURFHGXUHV
+LJK5LVN2%*<1±6SHFLDOW\3URGXFWV3URGXFWVXVHGLQYLWURIHUWLOL]DWLRQSURFHGXUHVDVVRFLDWHGZLWK
DVVLVWHGUHSURGXFWLYHWKHUDS\
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
2UDO&DUH (IIHFWLYH$XJXVW
([SLUHV-XO\
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVVSRQJHVZDEVWRRWKHWWHVRUDOFDUHVROXWLRQ
RUDOVXFWLRQWLSVDQGVXFWLRQWRRWKEUXVKHV7KHVHPD\EHVROG
VHSDUDWHO\RULQFDUHNLWSDFNDJHV
6XSSOLHU
7KLVFDWHJRU\GRHVQRWLQFOXGHSHUVRQDOFDUHLWHPVVXFKDVUHJXODU
WRRWKEUXVKHVWRRWKSDVWHDQGPRXWKZDVKWKRVHSURGXFWVPD\EH
IRXQGXQGHUWKH3HUVRQDO&DUH.LWVFDWHJRU\
1HZ
([SLULQJ
3316
$616
3316
$616
3316
3316
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
+DO\DUG
-DQLV+DUYH\
MDQLVKDUYH\#K\KFRP
6DJH
*UHJ&RUEHWW
JUHJFRUEHWW#VWU\NHUFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI)HEUXDU\)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHUZLWKERWKVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVZLWKERWKVXSSOLHUV 2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
)LQDQFLDOFRQVLGHUDWLRQV
x &XVWRPNLWVYVVWDQGDUGNLWV
x 9DOXHDGGVVXFKDVFRQYHUVLRQ
DQGJURZWKUHEDWHV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 9HQWLODWRUDVVRFLDWHGSQHXPRQLD
9$3 x 3HGLDWULFSURGXFWV
x &OLQLFDOHGXFDWLRQFRPSOLDQFH
x 3URGXFWYVSURFHVV
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x /RZ9$3UDWHVZLWKFXUUHQW
VXSSOLHU
x &+*LQNLWVFRPSDUHGWRSUHSLQ
WKHSKDUPDF\
3ULFLQJLVILUPIRUWKHWHUPRIERWKDJUHHPHQWV
+DO\DUGRIIHUVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKH
H[SLULQJDJUHHPHQW
+DO\DUGLVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
+DO\DUGRIIHUVFRQYHUVLRQDQGJURZWKUHEDWHV
6DJHRIIHUVIODWSULFLQJRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
6DJHZLOOJUDQGIDWKHUSULFLQJLIDSDUWLFXODUSURGXFWKDVDORFDOO\QHJRWLDWHGSULFHWKDWLVORZHUWKDQWKH
DJUHHPHQWSULFH
$YDLODEOHWKURXJKGLVWULEXWLRQ+DO\DUGDQG6DJH
$YDLODEOHGLUHFW+DO\DUGDQG6DJH
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
2UDO&DUH (IIHFWLYH$XJXVW
([SLUHV-XO\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUFXVWRPL]DWLRQIRUPHPEHU
VSHFLILFQHHGV7KHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7RPDLQWDLQOLQNLQWHJULW\
SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVDOVRLQFOXGHG
5HODWHGFDWHJRULHV
x
x
&ORVHG9HQWLODWLRQ6XFWLRQ3URGXFWVWKDWSURYLGHDVXFWLRQFDSDELOLW\ZLWKDFRPSOHWHO\FORVHGDLUZD\
FLUFXLW
3HUVRQDO&DUH.LWV,QGLYLGXDOSURGXFWVDQGRUJURXSVRISURGXFWVWKDWKDYHEHHQSDFNDJHGLQD
VWDQGDUGRUFXVWRPL]HGNLWDVSDUWRIWKHSDWLHQWDGPLVVLRQSURFHVV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
2UDO0HGLFDWLRQRQ'HPDQG 3202' 3DLQ
0DQDJHPHQW'HYLFHV
(IIHFWLYH)HEUXDU\WKURXJK-DQXDU\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVLVDnew3UHPLHUFDWHJRU\7KLVFDWHJRU\LQFOXGHVHOHFWURQLFVDIHRUDO
SDWLHQWFRQWUROOHGDQDOJHVLDGHOLYHU\GHYLFHVZKLFKDOORZSDWLHQWDFFHVVWR
PHGLFDWLRQVSUHVFULEHGWREHDYDLODEOHRQD351 DVQHHGHG EDVLVZLWKLQ
SUHVHWWLPHLQWHUYDOV
7KHSDWLHQWFRQWUROOHGRUDODQDOJHVLDGHYLFHFDQLQFOXGHYDULRXVIXQFWLRQV
VXFKDVNH\SDGVWKDWHQDEOHSDWLHQWVWRLQSXWWKHLUSDLQLQWHQVLW\UDWLQJ
EHIRUHVZLSLQJDUDGLRIUHTXHQF\LGHQWLILFDWLRQZULVWEDQGXQLTXHWRHDFK
SDWLHQW
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$ZDUGHGVXSSOLHU
1HZ
6XSSOLHU
FRQWUDFW
3316
([SLULQJ
FRQWUDFW
1HZ
$6&(1'7KHUHLVQR$6&(1'DZDUGLQWKLV
FDWHJRU\
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHU
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
&ODVVRIWUDGH
7KHDJUHHPHQWLVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQW
$YDQFHQKDVDODUJHRUGHUGROODUWKUHVKROG
$YDQFHQRIIHUVDSHUFHQWHDUO\SD\PHQWGLVFRXQWLISD\PHQWLVPDGHZLWKLQGD\V
$YDQFHQRIIHUVDSODFHPHQWSURJUDPDQGLQWHJUDWHGGHOLYHU\QHWZRUN ,'1 UHEDWH6HHYDOXHDGGVVHFWLRQIRUGHWDLOV
3URGXFWVIURP$YDQFHQDUHDYDLODEOHGLUHFWDQGWKRXJKDXWKRUL]HGGLVWULEXWRUV
6XSSOLHUFRQWDFWLQIRUPDWLRQ
$YDQFHQ02'&RUSRUDWLRQ1HG%XIILQJWRQQEXIILQJWRQ#DYDQFHQFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-DQXDU\)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\
&KDLQ$GYLVRU
5HODWHGFDWHJRULHV
x
x
,QIXVLRQ'HYLFHVDQG'HYLFHGHGLFDWHG6HWV/DUJHYROXPHLQIXVLRQWKHUDS\SXPSV,9WKHUDS\SDLQPDQDJHPHQW
SXPSV QDUFRWLFVDQWLELRWLFVRUFKHPRWKHUDS\ ,9V\ULQJHSXPSVWXELQJDQGVHWV,9DPEXODWRU\SXPSVWXELQJDQG
VHWVDQGPHGLFDWLRQPDQDJHPHQWVRIWZDUHLQFOXGLQJDGYHUVHGUXJHYHQWWUDFNLQJDQGPDQDJHPHQWV\VWHPV
3DLQ0DQDJHPHQW/RFDO$QHVWKHWLF3RUWDEOHGHOLYHU\V\VWHPVSODFHGDWWKHVXUJLFDOVLWHWRDGPLQLVWHUORFDODQHVWKHWLF
WRGHFUHDVHSRVWRSHUDWLYHSDLQDOORZLQJIRUHDUOLHUUHKDELOLWDWLRQDQGUHGXFHGQHHGIRUQDUFRWLFV
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLV
GRFXPHQWLVXQDEOHWREHHGLWHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
2UWKRSHGLF6RIW*RRGV(IIHFWLYH'HFHPEHU
([SLUHV1RYHPEHU
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVVRIWDQGH[WULFDWLRQFHUYLFDOFROODUVNQHH
EUDFHVDQGVXSSRUWVEDFNEUDFHVDQGVXSSRUWVVKRXOGHUEUDFHVDQG
HOERZZULVWWKXPEKDQGDQGIRUHDUPVXSSRUWVDQNOHEUDFHVDQG
VXSSRUWVXSSHUH[WUHPLW\VSOLQWVVRIWDQGFXVWRPEUDFHVDQGFROG
WKHUDS\XQLWV
6XSSOLHU
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
%HUW
ESDQJUD]LR#EUHJFRP
3DQJUD]LR
.HUU\
'-2
NHUU\GXQEDU#GMRJOREDOFRP
'XQEDU
-RVHSK
2VVXU
MNKDOLID#RVVXUFRP
.KDOLID
7HWUD
0LNH,PKRII
PLNH#WHWUDPHGFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0DUFK)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
%UHJ
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHUZLWK
%UHJ'-2DQG7HWUD
2VVXUUHTXLUHV3'0)3$DWDOOWLHUV
1HZ
([SLULQJ
3316
1HZ
3316
3316
3316
1HZ
3361
$661
1HZ
3316
1HZ
1RWH7HWUDLVDZRPDQRZQHGEXVLQHVV :%( 66*OREDOSDUWQHUVZLWK'H5R\DOLQWKLVVSDFH
6HHWKH3UHPLHU3URSURGXFWVODXQFKGRFXPHQW
3URGXFWVFXUUHQWO\LQFOXGHGWKURXJK'H5R\DO 33
16 ZLOOEHDYDLODEOHWKURXJK66*OREDODVRI
2FWREHUIRUGHWDLOV
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x &RQYHUVLRQLQFHQWLYHV
x 3UHPLXPDQGVWDQGDUGOHYHO
SURGXFWV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQV *32V DQGHVWDEOLVKHGQHWZRUNV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPZLWKDOOVXSSOLHUV
'-2¶VQHZDJUHHPHQWRIIHUVDSHUFHQWLQFUHDVHRYHUDOO
FRPSDUHGWRWKHH[SLULQJDJUHHPHQW
'-2RIIHUVDRQHWLPHFRQYHUVLRQDOORZDQFH
2VVXULVWKHORZFRVWVXSSOLHUZLWKPRUHWKDQSHUFHQWRI
FURVVHGVSHQG
$YDLODEOHWKURXJKGLVWULEXWLRQ%UHJ'-22VVXUDQG7HWUD
$YDLODEOHGLUHFW%UHJ'-22VVXUDQG7HWUD
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3DWLHQWFRPIRUW
x 3HGLDWULFDQGEDULDWULFRSWLRQV
x $ELOLW\WRWDNHRXWVWD\VKDQJHUWR
ZDVK
x &XVWRPYVVWDQGDUGEUDFHV
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x &RORUDQGVWUDSOHQJWKYDULDQFHV
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
2UWKRSHGLF6RIW*RRGV(IIHFWLYH'HFHPEHU
([SLUHV1RYHPEHU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EH
EURNHQ7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
&DVWLQJDQG6SOLQWLQJ3URGXFWV3URGXFWVWKDWDUHWKHSODVWHUV\QWKHWLFDQGILEHUJODVVPDWHULDOVXVHGWR
IRUPVSOLQWVRUFDVWVWRLPPRELOL]HRUVWDELOL]HRUWKRSHGLFSUREOHPVVRWKDWKHDOLQJFDQRFFXU
+RWDQG&ROG3DFNV,QVWDQWKRWDQGFROGSDFNVLQIDQWKHHOZDUPHUVWKHUPDOLQIDQWWUDQVSRUWPDWWUHVVHV
SHULQHDOSDFNVDQGUHXVDEOHLFHEDJVDQGJHOSDFNV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3DWLHQW%HGVLGH3URGXFWV (IIHFWLYH-XO\
([SLUHV-XQH
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVSURGXFWVIRUSDWLHQWEHGVLGHDQGSHUVRQDOXVH
LQFOXGLQJSODVWLFGLVSRVDEOHDQGELRGHJUDGDEOHSURGXFWV HJ
SLWFKHUVWXPEOHUVFDUDIHVZDVKEDVLQVXWLOLW\EDVLQVVLW]EDWKV
VRDSGLVKHVGHQWXUHFXSVXWLOLW\ERZOVHPHVLVEDVLQVEHGSDQV
VSHFLPHQSDQVPHGLFLQHFXSVVSHFLPHQFRQWDLQHUVOLQHUVDQG
XULQDOV $OVRLQFOXGHGLQWKHFDWHJRU\DUHHTXLSPHQWXQLWVWKDW
GLVSRVHRISURGXFWV
6XSSOLHU
&OHDQLV
1LFRODV%HFN QEHFN#FOHDQLVFRP
0$&
0HGLFDO
:LOO
0DGGRFNV
[
ZLOOPDGGRFNV#PDFPHGFRP
URQSU\EHOOD#PHGHJHQPHG
FRP
0HGHJHQ
5RQ3U\EHOOD
NOHZLV#FDUHOLQHLQFFRP
6'16
1HZ
3316
1HZ
3316
3316
3316
$616
3316
$616
3316
3316
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHV
.HLWK/HZLV
([SLULQJ
&ODVVRIWUDGH
&DUH/LQH
1HZ
9HUQDFDUH¶VDJUHHPHQW3316ZDVDVVLJQHG
WR0$&0HGLFDO6XSSO\&RHIIHFWLYH-XQH
&OHDQLVLVDVPDOOEXVLQHVVHQWHUSULVH 6%( 0$&
0HGLFDOLVDZRPDQRZQHGEXVLQHVV :%( &DUH/LQHLVD6(('6VXSSOLHUYHWHUDQRZQHG
EXVLQHVVHQWHUSULVH 9(7 HIIHFWLYH0DUFK
'HUULFN
GILWFKHQD#PHGOLQHFRP
)LWFKHQD
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0DUFK)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
0HGOLQH
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK
DOOVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRI
IDFLOLWLHVZLWK&OHDQLV0$&0HGLFDODQG0HGOLQH
0HGHJHQDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWK&OHDQLV0$&0HGLFDODQG0HGOLQH
x 0HJHGHQSULFLQJLVILUPIRUPRQWKV7KHUHDIWHUSULFLQJPD\LQFUHDVHRUGHFUHDVHEDVHGRQ
SHUFHQWRIWKHDQQXDODYHUDJHFKDQJHLQWKH&KHPLFDO'DWDLQGH[ &', 0$&0HGLFDO¶VQHZDJUHHPHQWKDVDQRYHUDOOSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
0HGHJHQ¶VQHZDJUHHPHQWKDVDQRYHUDOOSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
0HGOLQH¶VQHZDJUHHPHQWRIIHUVDQRYHUDOOSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
0HGOLQHZLOOJUDQGIDWKHUORFDOO\QHJRWLDWHGSULFLQJLILWLVORZHUWKDQWKHSULFLQJRQWKLVDJUHHPHQW6HHYDOXH
DQDO\VLVWRRONLWIRUGHWDLOV
0HGOLQHLVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ&OHDQLV0$&0HGLFDO SXOSSURGXFWV 0HGHJHQDQG0HGOLQH
$YDLODEOHGLUHFW&OHDQLV0$&0HGLFDO PDFHUDWRUV 0HGHJHQDQG0HGOLQH
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3DWLHQW%HGVLGH3URGXFWV (IIHFWLYH-XO\
([SLUHV-XQH
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
6(('6XSGDWHVXPPDU\$3')XSGDWHGRFXPHQWSURYLGLQJLQIRUPDWLRQDERXW6(('6VXSSOLHU V DGGHGWRWKH
FDWHJRU\7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRULHV
x
x
*HQHUDO8URORJLFDO3URGXFWV)ROH\FDWKHWHUV)ROH\FDWKHWHUWUD\VXULQHPHWHUVGUDLQDJHEDJVXULQDU\
FDWKHWHUVHFXUHPHQWGHYLFHVXUHWKUDOWUD\VLUULJDWLRQWUD\VDQGPLGVWUHDPFDWFKNLWV
3HUVRQDO&DUH.LWVDQG&RPSRQHQWV,QGLYLGXDOSURGXFWVDQGRUJURXSVRISURGXFWVWKDWKDYHEHHQSDFNDJHG
LQDVWDQGDUGRUFXVWRPL]HGNLWDVSDUWRIWKHSDWLHQWDGPLVVLRQSURFHVV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3DWLHQW&OHDQVLQJDQG6NLQ&DUH %DJ%DVHG (IIHFWLYH-XQH
([SLUHV0D\
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVVLQJOHDSSOLFDWLRQSURGXFWVXVHGLQWKHFDUHRI
SDWLHQWVIRUK\JLHQHDQGPDLQWHQDQFHRIVNLQLQWHJULW\WKDWDUH
SDFNDJHGLQDGLVSRVDEOHEDJ7KHVHSURGXFWVLQFOXGHWKHGLVSRVDEOH
ZLSHVLQDEDJEDWKLQDEDJXVHGDWWKHSDWLHQWEHGVLGHDQGWKH
SUHSDFNDJHGFKORUKH[LGLQHJOXFRQDWH &+* ZLSHV
6XSSOLHU
1HZ
([SLULQJ
3316
1HZ
3316
1HZ
3316
3316
3316
$616
3316
&ODVVRIWUDGH
$OODJUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
$YDGLP
-DFN3D\QH
MDFNSD\QH#WKHUDZRU[FRP
&DUGLQDO
5REHUW
*ORYHU
EREJORYHU#FDUGLQDOKHDOWKFRP
,+&
0DUN5HLEHU
PUHLEHU#LKFVROXWLRQVFRP
6DJH
*UHJ&RUEHWW JUHJFRUEHWW#VWU\NHUFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI)HEUXDU\)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHUZLWKERWKVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
,+&LVDYHWHUDQRZQHGHQWHUSULVH 9(7 7KHFXUUHQWDJUHHPHQWZLWK0HGOLQH 3316 H[SLUHV0D\
8SGDWH6HSWHPEHU$YDGLPDQG&DUGLQDO
ZHUHDGGHGWRWKHFDWHJRU\HIIHFWLYH2FWREHU
)LQDQFLDOFRQVLGHUDWLRQV
x 3URGXFWVDUHQRQUHLPEXUVDEOH
x 0LQLPXPRUGHUUHTXLUHPHQWV
x *UDQGIDWKHULQJ
x 9DOXHDGGVVXFKDVUHEDWHV
3URGXFWVDIHW\DQGVDWLVIDFWLRQ
x 3DWLHQWSRSXODWLRQ HJSHGLDWULFV x $SSURSULDWHSURGXFWFKRLFHIRU
SDWLHQW
x (DVHRIXVH
x 3DWLHQWFRPIRUW
3ULFLQJLVILUPIRUWKHWHUPZLWKERWKVXSSOLHUV
,+&RIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJ
5RDGEORFNVWRFRQYHUVLRQ
DJUHHPHQW
x &OLQLFDOSUHIHUHQFH
,+&LVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
x
:DUPHUVDUHSURSULHWDU\
6DJHRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKH
H[SLULQJDJUHHPHQW
6DJHRIIHUVDQHDUO\FRQYHUVLRQUHEDWH7KHUHEDWHYDULHVEDVHGRQFRQYHUVLRQWLPHIUDPH
6DJHDOORZVJUDQGIDWKHULQJLIDPHPEHUFXUUHQWO\KDVDORFDOO\QHJRWLDWHGSULFHIRUDSURGXFWWKDWLVORZHU
WKDQDJUHHPHQWSULFLQJ
6DJHKDVDPLQLPXPRUGHUUHTXLUHPHQW
$YDLODEOHWKURXJKGLVWULEXWLRQ,+&DQG6DJH
$YDLODEOHGLUHFW,+&DQG6DJH
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3DWLHQW&OHDQVLQJDQG6NLQ&DUH %DJ%DVHG (IIHFWLYH-XQH
([SLUHV0D\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
&DWHJRU\XSGDWH$3')XSGDWHGRFXPHQWSURYLGLQJLQIRUPDWLRQDERXWQHZVXSSOLHU V DGGHGWRWKHFDWHJRU\
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRULHV
x
x
x
&KORUKH[LGLQH*OXFRQDWH &+* 6NLQ3UHS3URGXFWV,QWHUYHQWLRQDODQGSUHVXUJLFDODQWLVHSWLFSURGXFWVDQG
VROXWLRQVGHVLJQHGWRUHGXFHEORRGVWUHDPLQIHFWLRQV
,QFRQWLQHQFH3URGXFWV3URGXFWVGHVLJQHGIRUWKHDEVRUSWLRQDQGPDQDJHPHQWRIOHDNVUHVXOWLQJIURP
LQFRQWLQHQFH
6NLQ,QWHJULW\±3UHYHQWLRQ+HDOLQJDQG6XSSRUW$FRPELQDWLRQRI$GYDQFHG:RXQG&DUHDQG3DWLHQW
&OHDQVLQJDQG6NLQ&DUH 7UDGLWLRQDO ,QFOXGHVSDWLHQWFOHDQVLQJDQGVNLQFDUHLWHPVXVHGRQWKHSDWLHQW
SRSXODWLRQRYHUWKHDJHRIWZR
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3DWLHQW7HPSHUDWXUH0DQDJHPHQW3URGXFWVDQG$FFHVVRULHV (IIHFWLYH-DQXDU\
([SLUHV'HFHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVLQYDVLYH HQGRYDVFXODU DQGQRQLQYDVLYH
VXUIDFHRUFRQGXFWLYH WHPSHUDWXUHWKHUDS\PDQDJHPHQWSURGXFWV
DQGGHYLFHVVSHFLILFDOO\GHVLJQHGWRFRROZDUPRUUHJXODWHDSDWLHQW V
ERG\WHPSHUDWXUHDVSDUWRIDWKHUDSHXWLFWUHDWPHQWUHJLPH
x
$GURLW$GYDQFHG&RROLQJ&LQFLQQDWL6XE=HURDQG6WU\NHU
DUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQ
KHDOWKFDUHIDFLOLWLHV
=2//¶VDJUHHPHQWLVDYDLODEOHWRDFXWHFDUHIDFLOLWLHVRQO\
$GYDQFHG
&RROLQJ
&LQFLQQDWL
6XE=HUR
6FRWW
*DPPRQV
5RELQ
'UDVVOHU
0DWW
0F&XUG\
DGURLWPHG#DROFRP
[
URELQ#DGYDQFHGFRROLQJWKHUDS
\FRP
PFFXUG\#FV]LQFFRP
[
6WU\NHU
(G+DUULV
HGKDUULV#VWU\NHUFRP
$GURLW
6XSSOLHU
1HZ
([SLULQJ
3316 3316
3316 3316
&ODVVRIWUDGH
x
$ZDUGHGVXSSOLHUV
3316 3316
3316 3316
3316 3316
$GURLWLVDYHWHUDQRZQHGEXVLQHVVHQWHUSULVH
9(7 2Q-XQH$GYDQFHG&RROLQJ7KHUDS\
DQQRXQFHGLWLVQRZ$WWXQH0HGLFDO
/\QQ
OFRQDZD\#]ROOFRP
&RQDZD\
[
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI2FWREHU)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
=2//
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURU
KLJKHUZLWK$GURLW$GYDQFHG&RROLQJ&LQFLQQDWL6XE=HURDQG6WU\NHU
=2//UHTXLUHVD30')3$DW7LHU
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRI
IDFLOLWLHVZLWKDOOVXSSOLHUV
6WU\NHUUHTXLUHVWKDWDWOHDVWPHPEHUVRIWKHJURXSPXVWPHHWWKHYROXPHUHTXLUHPHQWRIWKHWLHUDQGWKH
UHPDLQLQJPHPEHUVFRPPLWWRSXUFKDVHQROHVVWKDQSHUFHQWRIUHTXLUHPHQWVIURP6WU\NHU
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
6WU\NHUDQG=2//RIIHUJUDQGIDWKHULQJ6HHWHUPVDQGFRQGLWLRQVLQWKHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
$GURLWKDVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
$GURLWRIIHUVDIUHHOLIHWLPHSXPSZDUUDQW\KRVHVHWVDQGSXPSDGDSWRUV6HHYDOXHDGGVLQWKHYDOXH
DQDO\VLVWRRONLWIRUGHWDLOV
$GYDQFHG&RROLQJRIIHUIODWSULFLQJRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
&LQFLQQDWL6XE=HURRIIHUVIODWSULFLQJRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
6WU\NHUKDVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
=2//KDVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
$GURLWLVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ$GURLW&LQFLQQDWL6XE=HUR
$YDLODEOHGLUHFW$GURLW$GYDQFHG&RROLQJ&LQFLQQDWL6XE=HUR6WU\NHUDQG=2//
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3DWLHQW7HPSHUDWXUH0DQDJHPHQW3URGXFWVDQG$FFHVVRULHV (IIHFWLYH-DQXDU\
([SLUHV'HFHPEHU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
x
x
x
+RWDQG&ROG3DFNV,QVWDQWKRWDQGFROGSDFNVLFHEDJVUHXVDEOHJHOSDFNVDQGZUDSVDQGLQIDQWKHHO
ZDUPHUV
3DWLHQW:DUPLQJ±&RQYHFWLYH:DUPLQJ%ODQNHWV&RQYHFWLYHZDUPLQJEODQNHWVXVHGWRSUHYHQW
K\SRWKHUPLD
3DWLHQW:DUPLQJ±%ORRGDQG)OXLG:DUPLQJ%ORRGDQGIOXLGZDUPLQJSURGXFWVXVHGWRSUHYHQWDQGWUHDW
K\SRWKHUPLDE\ZDUPLQJWKH,9IOXLGVRUEORRGDVWKH\DUHLQIXVHGLQWRWKHSDWLHQW
3HGLDWULFDQG<RXWK'LVSRVDEOHV3DVVLYHZDUPLQJJDUPHQWVXVLQJUHIOHFWLYHPDWHULDOVWRNHHSLQSDWLHQW¶V
RZQUDGLDQWKHDW
5HVLVWLYH:DUPLQJ257DEOH3DGV25WDEOHSDGVFRQWDLQLQJDQHOHPHQWHQFDSVXODWHGLQVLGHGHVLJQHGIRU
SUHVVXUHUHGXFWLRQZKLOHZDUPLQJWKHSDWLHQW
7HPSHUDWXUH0RQLWRULQJ3URGXFWV'HYLFHVXVHGWRPRQLWRUSDWLHQW¶VWHPSHUDWXUHGXULQJVXUJHU\DQGSRVW
RSHUDWLYH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3HUVRQDO&DUH.LWVDQG&RPSRQHQWV
(IIHFWLYH$XJXVWWKURXJK-XO\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVLQGLYLGXDOSURGXFWVDQGRUJURXSVRISURGXFWVZKLFK
KDYHEHHQSDFNDJHGLQDVWDQGDUGRUKRVSLWDOVSHFLILHGNLWDVSDUWRIWKH
SDWLHQWDGPLVVLRQSURFHVV3URGXFWH[DPSOHVLQFOXGHWRRWKEUXVKHV
WRRWKSDVWHFRPEVKDLUEUXVKHVVKDYLQJFUHDPVLQJOHHGJHGUD]RUV
GHRGRUDQWPRXWKZDVKSDWLHQWEHORQJLQJVEDJVSHQVORWLRQVKDPSRR
FRQGLWLRQHUWXPEOHUVFDUDIHVDQGHPHU\ERDUGV
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKDOOVXSSOLHUV
&ODVVRIWUDGH
x
x
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHVZLWK&DUH/LQHDQG66
&DUGLQDODQG0HGOLQHDUHDYDLODEOHWRVHOHFWKHDOWKFDUHFODVVHVRI
WUDGH6HHDSSHQGLFHV$DQG$RU([KLELW%IRUGHWDLOVRQ
VSHFLILFFODVVRIWUDGHDYDLODELOLW\
3316 3316
$616 $616
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWKDOOVXSSOLHUV
3316 3316
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
3316 3316
3316 336(
$616 $66(
&DUH/LQHLVDYHWHUDQRZQHGEXVLQHVVHQWHUSULVH
9(7 7KHFXUUHQWDJUHHPHQWZLWK/6/,QGXVWULHV
3316 H[SLUHV-XO\
$6&(1'7KLVFDWHJRU\KDVEHHQGHVLJQDWHG
DVEDVH9LVLWWKH$6&(1'SRUWDOIRU$6&(1'
ODXQFKPDWHULDOV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOV
x &DUGLQDO¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x &DUH/LQH¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 0HGOLQH¶VQHZDJUHHPHQWSULFLQJKDVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 66¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 0HGOLQHLVWKHORZFRVWVXSSOLHURQVWDQGDUGNLWVDQGEXONLWHPV
0HGOLQHRIIHUVJUDQGIDWKHULQJIRUPHPEHUVZLWKORFDOO\QHJRWLDWHGSULFLQJ
&DUGLQDO&DUH/LQHDQG0HGOLQHRIIHUJXDUDQWHHGVDYLQJVIRUFXVWRPNLWV
&DUH/LQHRIIHUVDSHUFHQWJURZWKUHEDWHRQLQFUHPHQWDOJURZWK
$YDLODEOHWKURXJKGLVWULEXWLRQ&DUGLQDO&DUH/LQH0HGOLQHDQG66
$YDLODEOHGLUHFW0HGOLQHDQG66 FDVHPLQLPXPIRUGLUHFWVKLSPHQW 6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
x
x
&DUGLQDO+HDOWK5REHUW*ORYHUEREJORYHU#FDUGLQDOKHDOWKFRP
&DUH/LQH,QF.HLWK/HZLVNOHZLV#FDUHOLQHLQFFRP
0HGOLQH,QGXVWULHV,QF'HUULFN)LWFKHQDGILWFKHQD#PHGOLQHFRP
66*OREDO&KULV0F&DZFKULVBPFFDZ#SUHPLHULQFFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0D\)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3HUVRQDO&DUH.LWVDQG&RPSRQHQWV
(IIHFWLYH$XJXVWWKURXJK-XO\
5HODWHGFDWHJRULHV
x
x
x
x
%DE\3URGXFWV%DE\ORWLRQVRLQWPHQWVEDE\ZDVKHVEDE\VKDPSRREDE\SRZGHUFRUQVWDUFKDQGVXSSOLHVGHVLJQHG
IRUXVHLQWKHSHGLDWULFSDWLHQWSRSXODWLRQV
1RQKHDOWKFDUH6RDSV/RWLRQVDQG:DWHUOHVV5LQVHV1RQPHGLFDOKDQGK\JLHQHSURGXFWV HJIRDPVKDQGULQVHV
VSUD\VVRDSVDQGORWLRQV WKDWFOHDQUHVWRUHDQGUHYLWDOL]HVNLQ
3DWLHQW%HGVLGH3URGXFWV3URGXFWVIRUSDWLHQWEHGVLGHDQGSHUVRQDOXVHLQFOXGLQJSODVWLFGLVSRVDEOHVWDLQOHVVVWHHO
DQGELRGHJUDGDEOHSURGXFWV HJSLWFKHUVWXPEOHUVZDVKEDVLQVVRDSGLVKHVGHQWXUHFXSVXWLOLW\ERZOVHPHVLV
EDVLQVEHGSDQVVSHFLPHQSDQVOLQHUVDQGXULQDOV 6RDSV/RWLRQVDQG:DWHUOHVV+DQG5LQVHV&OHDQVLQJSURGXFWVLQFOXGLQJDOFRKROUXEVKDQGULQVHVIRDPVVSUD\VDQG
ORWLRQV LQFOXGLQJVRPHORWLRQVLQWHQGHGIRUPRLVWXUL]LQJSXUSRVHVRQO\ )XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
x 3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLV
GRFXPHQWLVXQDEOHWREHHGLWHG
x 3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG 35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3KDUPDF\&RPSRXQGLQJ(TXLSPHQWDQG$GPL[WXUH6XSSOLHV(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVSKDUPDF\FRPSRXQGLQJHTXLSPHQWVXFKDV
DXWRPDWHGWRWDOSDUHQWHUDOQXWULWLRQ 731 FRPSRXQGHUVDQG
DFFHVVRULHVDQGDXWRPDWHGILOOLQJGHYLFHVDQGDFFHVVRULHV
(ODVWRPHULFSXPSVDQGSKDUPDF\DGPL[WXUHVXSSOLHVDUHDOVRDSDUW
RIWKLVFDWHJRU\
6XSSOLHU
%D[WHU
'DYLG
6KHOOHQEHUJHU
GDYLGBVKHOOHQEHUJHU#ED[WHU
FRP
%%UDXQ
%LOO0LOOHU
ELOOPLOOHU#EEUDXQFRP
,&80HGLFDO
0DUN
-RUJHQVHQ
PMRUJHQVHQ#LFXPHGFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0D\)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKDOO
VXSSOLHUV
%D[WHUDQG%%UDXQDOVRUHTXLUHDOHWWHURISDUWLFLSDWLRQRU
OHWWHURIFRPPLWPHQWWRRSHUDWLRQDOL]HWKHDJUHHPHQWIRU
VSHFLILFWLHUVRUYDOXHDGGV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
$JJUHJDWLRQIRU%D[WHULVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVZLWK
WKHDELOLW\WRFRQWUROSXUFKDVLQJGHFLVLRQVJURXSSXUFKDVLQJ
RUJDQL]DWLRQV *32V DQGHVWDEOLVKHGQHWZRUNV
$JJUHJDWLRQIRU%%UDXQLVQRWDOORZHG $JJUHJDWLRQIRU,&80HGLFDOLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV
ZLWKWKHDELOLW\WRFRRUGLQDWHSXUFKDVLQJGHFLVLRQV*32VDQG
HVWDEOLVKHGQHWZRUNV
([SLULQJ
33,9
33,9 33,9
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
1HZ
33,9 33,9
33,9
1HZ
%D[WHUDFTXLUHG%D[D&RUSRUDWLRQ 33,9 LQ
7KHFXUUHQWDJUHHPHQWZLWK+RVSLUD 33,9 H[SLUHV-DQXDU\
0HPEHUVZKRQHHGWRFRQWLQXHWRSXUFKDVH
SURGXFWVIURP+RVSLUDDUHHQFRXUDJHGWRVLJQD
ORFDODJUHHPHQWZLWKDVWDUWGDWHEHIRUH-DQXDU\
&RQVLGHURSSRUWXQLWLHVZLWK3UHPLHU
FRQWUDFWHG,9VXSSOLHUV
)LQDQFLDOFRQVLGHUDWLRQV
x /DERUFRVWVDVVRFLDWHGZLWK
FRPSRXQGLQJLQKRXVHYHUVXVXVLQJ
DQRXWVRXUFHG,9DGPL[WXUHVHUYLFHV
x 9DOXHDGGV
x 3ULFHSURWHFWLRQ
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x %DUFRGHVFDQQLQJDQGODEHOLQJ
FDSDELOLWLHVRIHTXLSPHQWGHYLFHV
x 0LQLPDOSRLQWVIRUWRXFKFRQWDPLQDWLRQ
RIHQGSURGXFWE\SKDUPDF\SHUVRQQHO
5RDGEORFNVWRFRQYHUVLRQ
x &URVVFDWHJRU\YDOXHDGGVDQGWLHUV
x /LPLWHGVSDFHLQDVPDOOSULPDU\
HQJLQHHULQJFRQWURO
x &DSLWDOHTXLSPHQWEXGJHW
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
%D[WHUDQG,&80HGLFDORIIHUYDOXHDGGV
3ULFLQJLVILUPZLWK%D[WHUIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWDQQXDOO\LQDJJUHJDWH
%D[WHU¶VQHZGLVSRVDEOHSULFLQJLVDQRYHUDOOLQFUHDVHRISHUFHQWFRPSDUHGWRH[SLULQJDJUHHPHQW
3ULFLQJLVILUPZLWK%%UDXQIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHE\SHUFHQW
%%UDXQ¶VQHZGLVSRVDEOHSULFLQJLVDQRYHUDOOVDYLQJVRISHUFHQWFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
%%UDXQLVWKHORZFRVWVXSSOLHULQSKDUPDF\FRPSRXQGLQJGLVSRVDEOHV
3ULFLQJLVILUPZLWK,&80HGLFDOIRUWKHWHUPRIDJUHHPHQW
$YDLODEOHWKURXJKGLVWULEXWLRQ%D[WHU%%UDXQDQG,&80HGLFDO
$YDLODEOHGLUHFW%D[WHUDQG%%UDXQ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5385&+$6,1*3$571(56/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5385&+$6,1*3$571(56/3
3KDUPDF\&RPSRXQGLQJ(TXLSPHQWDQG$GPL[WXUH6XSSOLHV(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
&RVWPRGHOLQJWRRO$Q([FHOVSUHDGVKHHWWKDWDOORZV\RXWRFRPSDUH,9FRVWVZLWKLQ\RXUIDFLOLW\WRJDXJH
VDYLQJVRSSRUWXQLWLHV
5HODWHGFDWHJRULHV
x
x
x
x
x
'LVLQIHFWLRQ&DSV$OFRKROEDVHGGLVLQIHFWLRQFDSVXVHGWRGLVLQIHFWWKHKXERI,9YDOYHV
,QIXVLRQ'HYLFHVDQG'HYLFHGHGLFDWHG6HWV/DUJHYROXPHLQIXVLRQWKHUDS\SXPSV,9WKHUDS\SDLQ
PDQDJHPHQWSXPSV VSHFLILFWRQDUFRWLFVDQWLELRWLFVRUFKHPRWKHUDS\ ,9V\ULQJHSXPSVWXELQJDQG
VHWV,9DPEXODWRU\SXPSVWXELQJDQGVHWVDQGPHGLFDWLRQPDQDJHPHQWVRIWZDUHLQFOXGLQJDGYHUVH
GUXJHYHQWWUDFNLQJDQGPDQDJHPHQWV\VWHPV
,QIXVLRQ6HWVDQG$FFHVVRULHV,9JUDYLW\WXELQJVHWVH[WHQVLRQVHWVZLWKRXWQHHGOHOHVVFRQQHFWRUV
VWRSFRFNVPDQLIROGVDQG,9WXELQJDFFHVVRULHV
,9)OXLGV%DJEDVHG'UXJ'HOLYHU\DQG7310DFURQXWULHQWV,9IOXLGV ERWKVPDOODQGODUJHYROXPH
SDUHQWHUDOV EDJEDVHGGUXJGHOLYHU\V\VWHPVDQGWRWDOSDUHQWHUDOQXWULWLRQ 731 PDFURQXWULHQWV DPLQR
DFLGVGH[WURVHDQGLQWUDYHQRXVIDWHPXOVLRQV 1HHGOHOHVV&RQQHFWRUV'HYLFHVGHVLJQHGWRDOORZFRQQHFWLRQRIPXOWLSOHLQWUDYHQRXV ,9 VHWVDQG
FDWKHWHUKXEVZLWKRXWWKHXVHRIQHHGOHV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5385&+$6,1*3$571(56/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5385&+$6,1*3$571(56/3
3,&&DQG0LGOLQH$FFHVV3URGXFWV
(IIHFWLYH'HFHPEHU
([SLUHV1RYHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVSHULSKHUDOO\LQVHUWHGFHQWUDOYHQRXVFDWKHWHUV
3,&&V PLGOLQHFDWKHWHUVVKHDWKVGLODWRUVDQGNLWV
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
&ODVVRIWUDGH
x
x
$FFHVV6FLHQWLILF$QJLR'\QDPLFV&RRN0HGFRPSDQG1HR
0HGLFDODUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHV
$UURZ7HOHIOH[DQG%DUGDUHDYDLODEOHVHOHFWWRDFXWHFDUHDQG
QRQDFXWHKHDOWKFDUHIDFLOLWLHV
$FFHVV
6FLHQWLILF
$QJLR
'\QDPLFV
$UURZ
7HOHIOH[
%DUG
3KLO
5R\VWRQ
%HWK
:LOOLDPV
0DWWKHZ
7RXFK
'DYLG/
6PLWK
3316
1HZ
3316
3316
3316
3316
$616
3316
3316
$616
3316
3316
3316
3316
3316
1HZ
SUR\VWRQ#DFFHVVVFLHQWLILFFRP
EZLOOLDPV#DQJLRG\QDPLFVFRP
PDWWWRXFK#WHOHIOH[FRP
GDYLGVPLWK#FUEDUGFRP
&RRN
&KULV6PLWK
0HGFRPS
$GDP%URG\ DEURG\#PHGFRPSQHWFRP
FKULVVPLWK#FRRNPHGLFDOFRP
([SLULQJ
$FFHVV6FLHQWLILFLVDVPDOOEXVLQHVVHQWHUSULVH
6%( $6&(1'7KLVFDWHJRU\KDVEHHQ
GHVLJQDWHGDV5LGJH9LVLWWKH$6&(1'SRUWDO
IRU$6&(1'ODXQFKPDWHULDOV
1HR
7LPRWK\
WGXYDOO#QHRPHGLFDOLQFFRP
0HGLFDO
'XYDOO
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI)HEUXDU\)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK
DOOVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
x
x
x
$FFHVV6FLHQWLILFDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHG
QHWZRUNVRIIDFLOLWLHV
$QJLR'\QDPLFVDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHG
QHWZRUNVRIIDFLOLWLHV7KHDJJUHJDWLRQRSWLRQLVLQWHQGHGIRURZQHGOHDVHGRUPDQDJHG 2/0 V\VWHPVRU
*32VWKDWKDYHPDUNHWVKDUHRIIRU7LHURUIRU7LHUZLWK$QJLR'\QDPLFVEDVHGRQWKHDQQXDO
VSHQGGDWD
$UURZ7HOHIOH[DOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGDWVHOOHU¶V
GLVFUHWLRQHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV$JJUHJDWLRQLVOLPLWHGWRRZQHGOHDVHGDQGPDQDJHG 2/0 IDFLOLWLHV*32IDFLOLWLHVPXVWLQGHSHQGHQWO\PHHWWKHSDUWLFLSDWLRQUHTXLUHGE\WKHDSSOLFDEOHWLHU
%DUGDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
&RRNVDQG1HR0HGLFDODOORZDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQG
HVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
0HGFRPSDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHG
QHWZRUNVRIIDFLOLWLHV*32IDFLOLWLHVPXVWLQGHSHQGHQWO\PHHWWKHSDUWLFLSDWLRQUHTXLUHGE\WKHDSSOLFDEOHWLHU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3,&&DQG0LGOLQH$FFHVV3URGXFWV
(IIHFWLYH'HFHPEHU
([SLUHV1RYHPEHU
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKDOOVXSSOLHUV
$FFHVV6FLHQWLILF$QJLR'\QDPLFVDQG0HGFRPSRIIHUUHEDWHV6HHYDOXHDGGVVHFWLRQLQWKHYDOXHDQDO\VLV
WRRONLWIRUGHWDLOV
$QJLR'\QDPLFVKDVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
$UURZ7HOHIOH[KDVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
%DUGRIIHUVDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
&RRNKDVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
0HGFRPSRIIHUVDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
$UURZ7HOHIOH[LVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ$FFHVV6FLHQWLILF$UURZ7HOHIOH[DQG0HGFRPS
$YDLODEOHGLUHFW$FFHVV6FLHQWLILF$QJLR'\QDPLFV$UURZ7HOHIOH[%DUG&RRN0HGFRPSDQG1HR0HGLFDO
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
x
&DWKHWHU7XEH6HFXUHPHQWDQG6WDELOL]DWLRQ3URGXFWV6XWXUHOHVVVHFXUHPHQWDQGVWDELOL]DWLRQSURGXFWVWKDW
HQDEOHKHDOWKFDUHZRUNHUVWRGHOLYHUIOXLGVPHGLFDWLRQVRUWRGUDLQERGLO\IOXLGV
&HQWUDO9HQRXV$FFHVV3URGXFWV&HQWUDOYHQRXVDFFHVVFDWKHWHUVVKHDWKVGLODWRUVDQGNLWVLQFOXGLQJWKH
DFFHVVFDWKHWHUVVHFXUHPHQWGHYLFHVDQGWKHPD[LPXPEDUULHUNLWV
,PSODQWDEOH,QIXVLRQ3RUWV,PSODQWHGGHYLFHVXVHGWRSURYLGHDFFHVVLQWKHGHOLYHU\RIPHGLFDWLRQV RIWHQ
DQWLELRWLFVRUFKHPRWKHUDS\ LQWRWKHEORRGVWUHDPIRUSDWLHQWVZKRQHHGORQJWHUPWKHUDS\
7UDQVSDUHQW'UHVVLQJV'UHVVLQJVWKDWDUHXVHGWRFRYHUFDWKHWHUVLWHVDQGVHFXUHGHYLFHVZKLOHDOORZLQJ
YLVLELOLW\RIWKHVLWH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3URIHVVLRQDO)RRWZHDU
(IIHFWLYH-DQXDU\WKURXJK'HFHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVLVDnew3UHPLHUFDWHJRU\7KLVFDWHJRU\LQFOXGHVVKRHVWKDWDUH
2FFXSDWLRQDO6DIHW\DQG+HDOWK$GPLQLVWUDWLRQ 2+6$ FRPSOLDQW QRRSHQ
WRH VSHFLILFWRWKHQHHGVRIKHDOWKFDUHDQGEXVLQHVVDQGLQGXVWU\
SURIHVVLRQDOZRUNHUV7KHVKRHVLQWKLVFDWHJRU\VKRXOGEHVNLGUHVLVWDQW
HDVLO\VDQLWL]HGDQGKDYHFRPIRUWTXDOLWLHVWRPHHWWKHQHHGVRIORQJ
SHULRGVRIVWDQGLQJ
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHUZLWK3HGRUV
$30')3$LVQRWUHTXLUHGZLWK6 +GXHWRVLQJOHWLHURIIHULQJ
0HPEHUVDQGHPSOR\HHVPXVWSXUFKDVHIRRWZHDUWKURXJKHDFK
VXSSOLHU¶VXQLTXHZHEVLWH6HHRUGHULQJLQVWUXFWLRQVIRUGHWDLOV
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
3316
1HZ
3316
$616
1HZ
3HGRUVLVDVPDOOEXVLQHVVHQWHUSULVH 6%( 6 +LV
DZRPDQRZQHGEXVLQHVV :%( $6&(1'7KLVFDWHJRU\KDVEHHQGHVLJQDWHG
DVEDVH9LVLWWKH$6&(1'SRUWDOIRU$6&(1'
ODXQFKPDWHULDOV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWKERWK
VXSSOLHUV
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKERWKVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOV
x 3HGRU¶VQHZDJUHHPHQWSULFLQJRIIHUVXSWRSHUFHQWVDYLQJVFRPSDUHGWROLVWSULFH
x 6 +¶VQHZDJUHHPHQWSULFLQJRIIHUVXSWRSHUFHQWVDYLQJVFRPSDUHGWROLVWSULFH
x 6 +LVWKHORZFRVWVXSSOLHU
%RWKVXSSOLHUVRIIHUHPSOR\HHGLVFRXQWSURJUDPVDORQJZLWKRWKHUYDOXHDGGV
$YDLODEOHGLUHFW3HGRUVDQG6 +
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
3HGRUV6KRHV6WHSKHQ2 +DUHVWHSKHQRKDUH#SHGRUVFRP
6 +%XVLQHVV$SSDUHODQG)RRWZHDU$XUHOLH'LDOOR0RRUHDPRRUH#VKXQLIRUPVFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-DQXDU\)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
5HODWHGFDWHJRULHV
x
x
)DOO0DQDJHPHQW)RRWZHDU6OLSSHUVXVHGRQSDWLHQWVLQDFXWHDQGQRQDFXWHIDFLOLWLHVWRSUHYHQWIDOOV
8QLIRUPV5HQWDODQGSXUFKDVHRIXQLIRUPV
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
5HJHQHUDWLYH6NLQ*UDIWLQJ3URGXFWV
(IIHFWLYH-DQXDU\
([SLUHV'HFHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVSURGXFWVXWLOL]LQJYDULRXVWHFKQRORJLHVWKDW
HQKDQFHWKHELRORJLFDOSULQFLSOHVRIWLVVXHUHVSRQVHWRLQMXU\IRFXVLQJ
RQWLVVXHUHJHQHUDWLRQDQGVNLQUHSODFHPHQW7KHVHUHJHQHUDWLYH
SURGXFWVDUHXVHGIRUWKHJUDIWLQJRIIXOORUSDUWLDODFXWHDQGFKURQLF
ZRXQGVWKDWDUHQRWKHDOLQJGHVSLWHWUHDWPHQWZLWKFRQYHQWLRQDO
WKHUDSLHV
&ODVVRIWUDGH
x
x
$PQLR[2UJDQRJHQHVLVDQG2VLULVDUHDYDLODEOHWRDFXWH
FDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
$&HOODQG0L0HG[DUHDYDLODEOHWRVHOHFWDFXWHFDUHDQGQRQ
DFXWHKHDOWKFDUHIDFLOLWLHV6HH$SSHQGL[$LQWKHYDOXH
DQDO\VLVWRRONLWIRUVSHFLILFFODVVRIWUDGHDYDLODELOLW\
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316 3316
3316
1HZ
3316 3316
3316
1HZ
3316
1HZ
$&HOO
*Z\Q6HOE\
JZ\QVHOE\#DFHOOFRP
$&HOOLVDVPDOOEXVLQHVVHQWHUSULVH 6%( $PQLR[
%ULDQ
2QGUH\ND
ERQGUH\ND#DPQLR[PHGLFDO
FRP
0L0HG[
5RQ*ULP
UJULP#PLPHG[FRP
2UJDQR
JHQHVLV
5KRQGD
5DWK
7KHFXUUHQWDJUHHPHQWVZLWK$OOLTXD 3316 'HUPD6FLHQFHV 3316 0HGOLQH 3316
DQG07) 3316 H[SLUH'HFHPEHU
UUDWK#RUJDQRFRP
2VLULV
.LP*LHEHO
NJLHEHO#RVLULVFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI)HEUXDU\)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDWDOOWLHUVIRU
$&HOO$PQLR[DQG0L0HG[
2UJDQRJHQHVLVGRHVQRWUHTXLUHD30')3$GXHWRVLQJOHWLHURIIHULQJ
2VLULVUHTXLUHVD30')3$IRU7LHURUKLJKHU
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$PQLR[2UJDQRJHQHVLVDQG2VLULVDOORZDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQV
DQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
$&HOODQG0L0HG[DOORZDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
x $JJUHJDWLRQJURXSVZKRVHDQQXDODJJUHJDWHGVSHQGSULRUWRWKHHIIHFWLYHGDWHLVDWOHDVWDQG
ZKRVLJQD30')ZLOOEHSODFHGDW7LHUE\$&HOO
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
5HJHQHUDWLYH6NLQ*UDIWLQJ3URGXFWV
(IIHFWLYH-DQXDU\
([SLUHV'HFHPEHU
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
x 0L0HG[PD\PDNHSULFHDGMXVWPHQWVUHODWHGWR&06DQQXDOUXOLQJVIRU4FRGHSURGXFWV3OHDVHVHH
0L0HG[¶VWHUPVDQGFRQGLWLRQVVHFWLRQIRUGHWDLOV
$&HOODQG2VLULVRIIHUHDUO\SD\PHQWGLVFRXQWV
$&HOORIIHUVDSHUFHQWVDYLQJVFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0L0HG[KDVIODWSULFLQJFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
$YDLODEOHGLUHFW$&HOO$PQLR[0L0HG[2UJDQRJHQHVLVDQG2VLULV
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
x
x
%LRORJLFDO0HVK3URGXFWV3URGXFWVXVHGIRUKHUQLDUHSDLUDEGRPLQDOZDOOUHFRQVWUXFWLRQEUHDVW
UHFRQVWUXFWLRQDQGLQWKHSUHVHQFHRIFRQWDPLQDWHGRUSRWHQWLDOO\FRQWDPLQDWHGVXUJLFDOILHOGV
%RQH7LVVXHDQG6\QWKHWLF,PSODQWDEOH3URGXFWV%LRORJLFDQGV\QWKHWLFSURGXFWVWKDWDUHXVHGWRILOOERQH
YRLGVLQGXFHERQHIXVLRQDQGVWLPXODWHERQHJURZWK
1HJDWLYH3UHVVXUH:RXQG7KHUDS\7UHDWPHQWV\VWHPVGHVLJQHGWRIDFLOLWDWHKHDOLQJRIZRXQGVZLWKQHJDWLYH
SUHVVXUHWRWKHZRXQGVLWH
6NLQ,QWHJULW\6NLQ&OHDQVHU%DUULHUDQG/RWLRQ3URGXFWV3URGXFWVXVHGRQDSDWLHQWWRLPSURYHPDLQWDLQ
SURWHFWDQGSURPRWHKHDOLQJRIWKHSDWLHQW¶VGHUPDODQGHSLGHUPDOVNLQ
6XUJLFDO6NLQ*UDIWLQJ'HYLFHVDQG$FFHVVRU\3URGXFWV'HYLFHVDQGSURGXFWVXVHGWRVXUJLFDOO\UHPRYH
WKHVNLQIURPRQHDUHDRIWKHERG\DQGWUDQVSODQWLWWRDGLIIHUHQWSDUWRIWKHERG\
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
5HVSLUDWRU\7KHUDS\3URGXFWV
(IIHFWLYH1RYHPEHU
([SLUHV2FWREHU
3URGXFWVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVSHDNIORZPHWHUVLQFHQWLYHVSLURPHWHUV0',
KROGLQJFKDPEHUV VSDFHUV QHEXOL]HUVDQGGLVSRVDEOHVXSSOLHV
VXFWLRQFDWKHWHUVPXFRXVWUDSVQRQYHQWHGPDVNV&3$3DQG%L
/HYHOPDVNVR[\JHQGHOLYHU\GLVSRVDEOHVGLVSRVDEOHYHQWLODWRU
VXSSOLHVKXPLGLILFDWLRQSURGXFWVDQGUHVXVFLWDWLRQEDJV
7KLVFDWHJRU\GRHVQRWLQFOXGHFDSLWDOHTXLSPHQWXVHGLQWUHDWLQJWKH
UHVSLUDWRU\SDWLHQWZKLFKLVFRYHUHGXQGHURWKHU3UHPLHUFRQWUDFWV
7KLVFDWHJRU\SUHYLRXVO\LQFOXGHGDFWLYHKXPLGLILFDWLRQGHYLFHV
KHDWHUV KHDWHGZLUHFLUFXLWVFKDPEHUVEOHQGHUVZDWHUDQGKLJK
IORZGLVSRVDEOHVWKDWDUHSURSULHWDU\WRWKHVHGHYLFHVZKLFKKDYH
EHHQVSOLWRXWLQWRWKHLURZQFDWHJRU\±$FWLYH+XPLGLILFDWLRQ'HYLFHV
DQG$FFHVVRULHV
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
1LQD
QLMR#DPEXFRP
-RQHV
7HUU\
&DUH)XVLRQ
WHUU\EU\DQW#Y\DLUHFRP
%U\DQW
7RP
WVDPSVRQ#PRQDJKDQPHGFR
0RQDJKDQ
P
6DPSVRQ
0DWWKHZ
7HOHIOH[
PDWWWRXFK#WHOHIOH[FRP
7RXFK
%UHQW
EUHQWWUHPEOD\#WKD\HUPHGLFD
7KD\HU
OFRP
7UHPEOD\ [
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI1RYHPEHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
$PEX
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHUZLWK
$PEX&DUH)XVLRQ0RQDJKDQDQG7HOHIOH[
$30')3$LVQRWUHTXLUHGIRU7KD\HUGXHWRVLQJOHWLHU
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316 3316
3316
3316
$616
3316 3316
3316 3316
3316 3316
0RQDJKDQDQG7KD\HUDUHVPDOOEXVLQHVV
HQWHUSULVHV 6%( 7KHFXUUHQWDJUHHPHQWZLWK:HVWPHG 3316 H[SLUHV2FWREHU
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 9DOXHDGGV
x :DWHUXVDJH
x &LUFXLWOLIH
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 9HQWLODWRUDVVRFLDWHGSQHXPRQLD
9$3
x 3DWLHQWFRPIRUW
x 6NLQEUHDNGRZQLVVXHV
5RDGEORFNVWRFRQYHUVLRQ
x 9HQWLODWRUVZLWKSURSULHWDU\
GLVSRVDEOHV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQGHVWDEOLVKHGQHWZRUNVZLWK$PEX&DUH)XVLRQ
0RQDJKDQDQG7HOHIOH[
&DUH)XVLRQUHTXLUHV*32IDFLOLWLHVPXVWLQGHSHQGHQWO\FRPPLWWRWKHPDUNHWVKDUHUHTXLUHGE\WKHWLHU
7HOHIOH[LVDYDLODEOHWR2/0IDFLOLWLHVRQO\DQGHVWDEOLVKHGQHWZRUNVDWLWVGLVFUHWLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
5HVSLUDWRU\7KHUDS\3URGXFWV(IIHFWLYH1RYHPEHU
([SLUHV2FWREHU
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKDOOVXSSOLHUV
$PEXRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&DUH)XVLRQRIIHUVSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0RQDJKDQRIIHUVSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
7HOHIOH[RIIHUVSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&DUH)XVLRQDQG7HOHIOH[RIIHUDGGLWLRQDOVDYLQJVIRUPXOWLFDWHJRU\FRPPLWPHQW
$YDLODEOHWKURXJKGLVWULEXWLRQ$PEX&DUH)XVLRQ0RQDJKDQ7HOHIOH[DQG7KD\HU
$YDLODEOHGLUHFW$PEX&DUH)XVLRQ7HOHIOH[DQG7KD\HU
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EH
EURNHQ7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
x
x
x
x
x
x
x
$FWLYH+XPLGLILFDWLRQ'HYLFHVDQG$FFHVVRULHV+XPLGLILFDWLRQGHYLFHV KHDWHUV KHDWHGZLUHFLUFXLWV
FKDPEHUVEOHQGHUVZDWHUDQGKLJKIORZGLVSRVDEOHVWKDWDUHSURSULHWDU\WRWKHVHGHYLFHV
&ORVHG9HQWLODWLRQ6XFWLRQ3URGXFWVXVHGLQQHRQDWHSHGLDWULFDQGDGXOWSDWLHQWVWKDWSURYLGHDVXFWLRQ
FDSDELOLW\ZLWKDFRPSOHWHO\FORVHGDLUZD\FLUFXLW
'LVSRVDEOH$QHVWKHVLD3URGXFWV$QHVWKHVLDIDFHPDVNVILOWHUVEUHDWKLQJFLUFXLWVEDJVJDVVDPSOLQJOLQHV
DQGRUDODLUZD\VWRDGPLQLVWHUJHQHUDODQHVWKHVLDWRVXUJLFDOSDWLHQWV
2UDO&DUH6SRQJHVZDEVRUDOFDUHVROXWLRQVRUDOVXFWLRQWLSVDQGVXFWLRQWRRWKEUXVKHV
1RQLQYDVLYH9HQWLODWRUV&RQWLQXRXVSRVLWLYHDLUZD\SUHVVXUH &3$3 XQLWVELOHYHO EL3$3 XQLWVDQGWKH
DVVRFLDWHGFRQVXPDEOHV VXFKDVPDVNVFDQQXODVDQGWXELQJ 6XFWLRQ&DQLVWHUV<DQNDXHUVDQG7XELQJ6XFWLRQFDQLVWHUV<DQNDXHUVWXELQJ VWHULOHDQGQRQVWHULOH DQG
VROLGLILHUVXVHGIRUWKHSXUSRVHRIFROOHFWLQJPHGLFDOZDVWH
6SHFLDOW\'LVWULEXWLRQ±5HVSLUDWRU\7KHUDS\DQG$QHVWKHVLD3URGXFWV2IIHUVPHPEHUVWKHRSWLRQWR
SXUFKDVHUHVSLUDWRU\WKHUDS\DQGDQHVWKHVLDSURGXFWVIURPPXOWLSOHVXSSOLHUVWKURXJKDVSHFLDOW\GLVWULEXWRU
6XUJLFDO,QVWUXPHQWV,QVWUXPHQWVXVHGE\VXUJHRQVDQGQXUVHVWRIDFLOLWDWHDVXUJLFDOSURFHGXUH
9HQWLODWRUV,QWHQVLYHFDUHKLJKIUHTXHQF\RVFLOODWRU\WUDQVSRUWSRUWDEOHDQGPDVVFDVXDOW\YHQWLODWRUV
DVVRFLDWHGDFFHVVRULHVDQGSURSULHWDU\FLUFXLWV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
5HVWUDLQWVDQG)DOO3UHYHQWLRQ3URGXFWV
(IIHFWLYH$XJXVW
([SLUHV-XO\
3URGXFWVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVIDOOSUHYHQWLRQSURJUDPVYLVXDOFXHVZDUQLQJ
V\VWHPVPRQLWRUVDODUPVSDWLHQWUHVWUDLQWVRUUHVWUDLQLQJJDUPHQWV
DQGGHYLFHVWKDWOLPLWWKHSK\VLFDOPRYHPHQWRIWKHSDWLHQW
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHV
'H5R\DO
(0$GDPV
+RUL]RQ
3RVH\
0DWW
6SDOGLQJ
-LP
6WHYHQV
'DQ
+DZNLQ
5LFN6PLWK
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316
$616
3316
$616
3316
3316
3316
6'16
PVSDOGLQJ#GHUR\DOFRP
3316
3316
VWHYHQV#HPDGDPVFRFRP
3316
1HZ
GKDZNLQ#KRUL]RQKFVQHW
[
UVPLWK#SRVH\FRP
5\DQ
U\DQIRJDUW\#VEGLQFFRP
)RJDUW\
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-XO\)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
6WDQOH\
(0$GDPVDQG+RUL]RQDUHVPDOOEXVLQHVV
HQWHUSULVHV 6%(V $6&(1'7KLVFDWHJRU\KDVEHHQGHVLJQDWHG
DV5LGJH9LVLWWKH$6&(1'SRUWDOIRU
$6&(1'ODXQFKPDWHULDOV
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHU
RUKLJKHUZLWK'H5R\DO+RUL]RQ3RVH\DQG6WDQOH\
(0$GDPVGRHVQRWUHTXLUHD30')3$GXHWRVLQJOHWLHURIIHULQJ
$JJUHJDWLRQRSSRUWXQLWLHV
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHG
QHWZRUNVRIIDFLOLWLHVZLWKDOOVXSSOLHUV
x 3RVH\UHTXLUHVIDFLOLWLHVWRLQGHSHQGHQWO\FRPPLWWRWKHPDUNHWVKDUHUHTXLUHGE\WKHWLHU
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
'H5R\DORIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
(0$GDPVRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
+RUL]RQRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
+RUL]RQRIIHUVDQRFKDUJHIDOOPRQLWRUSURJUDP6HHYDOXHDGGVLQWKHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
3RVH\RIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
'H5R\DOLVWKHORZFRVWVXSSOLHUIRUWKRVHVXSSOLHUVZLWKPRUHWKDQSHUFHQWRIFURVVHGVSHQG
$YDLODEOHWKURXJKGLVWULEXWLRQ'H5R\DO(0$GDPV+RUL]RQ3RVH\DQG6WDQOH\
$YDLODEOHGLUHFW'H5R\DO(0$GDPVDQG+RUL]RQ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
5HVWUDLQWVDQG)DOO3UHYHQWLRQ3URGXFWV
(IIHFWLYH$XJXVW
([SLUHV-XO\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUFXVWRPL]DWLRQIRUPHPEHU
VSHFLILFQHHGV7KHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7RPDLQWDLQOLQNLQWHJULW\
SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVDOVRLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
x
x
&DVWLQJDQG6SOLQWLQJ3URGXFWV3ODVWLFV\QWKHWLFDQGILEHUJODVVPDWHULDOVXVHGWRGHYHORSVSOLQWVRU
FDVWVLQRUGHUWRLPPRELOL]HRUVWDELOL]HRUWKRSHGLFLQMXULHVVRWKDWKHDOLQJFDQRFFXU
)DOO0DQDJHPHQW)RRWZHDU6OLSSHUVXVHGRQSDWLHQWVLQDFXWHDQGQRQDFXWHIDFLOLWLHVWRSUHYHQWIDOOV
0RELOLW\$LGV&DQHVFUXWFKHVNQHHZDONHUVPRWRUL]HGVFRRWHUVZDONHUVDQGZKHHOFKDLUV
3K\VLFDO7KHUDS\3URGXFWVDQG([HUFLVH(TXLSPHQW3URGXFWVDQGHTXLSPHQWXVHGWRSURYLGH
WKHUDS\DLPHGDWGHYHORSLQJPDLQWDLQLQJDQGUHVWRULQJPD[LPXPPRYHPHQWDQGIXQFWLRQDODELOLW\
6NLQ%UHDNGRZQ3UHYHQWLRQ3URGXFWV+HHOSURWHFWRUVSURWHFWLYHERRWVHOERZSURWHFWRUVEHG
SRVLWLRQHUVWXUQDQGSRVLWLRQV\VWHPVZKHHOFKDLUFXVKLRQVDQGIRRWGURSSUHYHQWLRQDLGV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6DIHW\+XEHU1HHGOHV
(IIHFWLYH0DUFKWKURXJK)HEUXDU\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVVDIHW\QRQFRULQJ+XEHUQHHGOHVXVHGWRDFFHVV
LPSODQWDEOHSRUWVWRGHOLYHUFKHPRWKHUDS\DQWLELRWLFWKHUDS\RUSDUHQWHUDO
QXWULWLRQDOSURGXFWVWRFRPSURPLVHGSDWLHQWVUHTXLULQJPXOWLSOHRUUHSHDWHG
YDVFXODUDFFHVV
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKERWKVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
3316 3316
$616 $616
3316 3316
$616 $616
$6&(1'7KLVFDWHJRU\KDVEHHQGHVLJQDWHG
DV5LGJH9LVLWWKH$6&(1'SRUWDOIRU
$6&(1'ODXQFKPDWHULDOV
%DUGDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHG
QHWZRUNVRIIDFLOLWLHVIRU7LHUVDQG
6PLWKV0HGLFDODOORZVDJJUHJDWLRQIRUPHPEHUVZKLFKRZQDQGFHQWUDOO\PDQDJHPXOWLIDFLOLW\V\VWHPVDQGKDYHWKH
DELOLW\WRGULYHSXUFKDVLQJGHFLVLRQV$JJUHJDWHSULFLQJLVQRWDYDLODEOHIRU7LHUTXDOLILFDWLRQ2QO\IDFLOLWLHVZLWKLQD
PXOWLIDFLOLW\V\VWHPWKDWVDWLVI\WKHSHUFHQWFRPPLWPHQWOHYHOZLOOTXDOLI\IRU7LHUSULFLQJ
&ODVVRIWUDGH
x
x
%DUG¶VDJUHHPHQWLVDYDLODEOHWRDFXWHFDUHDQGQRQDFXWHKHDOWKFDUHIDFLOLWLHVRQO\
6PLWKV0HGLFDO¶VDJUHHPHQWLVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKERWKVXSSOLHUV
x 6PLWKV0HGLFDO¶V7LHUSULFLQJLVDYDLODEOHXQWLO2FWREHUXQOHVV6PLWKV0HGLFDODQG3UHPLHUH[WHQG
3325 ,PSODQWDEOH,QIXVLRQ3RUWV RUUHSODFHLWZLWKDQHZDJUHHPHQWIRUWKHFDWHJRU\DQG6PLWKV
0HGLFDOHOHFWVWRFRQWLQXH7LHUSULFLQJ
)LQDQFLDODQDO\VLVUHYHDOV
x %DUG¶VQHZDJUHHPHQWSULFLQJLVIODWSULFLQJFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 6PLWKV0HGLFDO¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 6PLWKV0HGLFDOLVWKHORZFRVWVXSSOLHU
%DUGRIIHUVJUDQGIDWKHULQJIRUWKHILUVWPRQWKVRIWKLVDJUHHPHQW6HHWHUPVDQGFRQGLWLRQVVHFWLRQIRUGHWDLOV
6PLWKV0HGLFDOKDVDPLQLPXPRUGHUUHTXLUHPHQW
$YDLODEOHWKURXJKGLVWULEXWLRQ6PLWKV0HGLFDO
$YDLODEOHGLUHFW%DUGDQG6PLWKV0HGLFDO
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
%DUG$FFHVV6\VWHPV,QF'DYLG/6PLWKGDYLGVPLWK#FUEDUGFRP
6PLWKV0HGLFDO$6',QF-XOLHW/DUVRQMXOLHWODUVRQ#VPLWKVPHGLFDOFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-DQXDU\)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\
&KDLQ$GYLVRU
5HODWHGFDWHJRULHV
x
x
x
x
x
&HQWUDO9HQRXV$FFHVV3URGXFWV&HQWUDOYHQRXVDFFHVVFDWKHWHUVVKHDWKVGLODWRUVDQGNLWV
,PSODQWDEOH,QIXVLRQ3RUWV,PSODQWHGGHYLFHVXVHGWRSURYLGHDFFHVVIRUPHGLFDWLRQGHOLYHU\ RIWHQDQWLELRWLFVRU
FKHPRWKHUDS\ LQWRWKHEORRGVWUHDPIRUSDWLHQWVZKRQHHGORQJWHUPWKHUDS\
1HHGOHOHVV&RQQHFWRUV'HYLFHVGHVLJQHGWRDOORZFRQQHFWLRQRIPXOWLSOHLQWUDYHQRXV ,9 VHWVDQGFDWKHWHUKXEV
ZLWKRXWWKHXVHRIQHHGOHV
6DIHW\+\SRGHUPLF3URGXFWV3URGXFWVXVHGWRGUDZXSDQGDGPLQLVWHUOLTXLGVRUPHGLFDWLRQVYLDLQWUDGHUPDO
VXEFXWDQHRXVLQWUDPXVFXODURU,9VDQGWKDWKDYHDQDWWDFKHGVDIHW\GHYLFHWRSUHYHQWDFFLGHQWDOVKDUSVLQMXULHV
6DIHW\,9&DWKHWHUV,9VWDUWFDWKHWHUVHTXLSSHGZLWKDVDIHW\GHYLFHWRSUHYHQWDFFLGHQWDOQHHGOHVWLFNV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6DIHW\+XEHU1HHGOHV
(IIHFWLYH0DUFKWKURXJK)HEUXDU\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6DIHW\+\SRGHUPLF3URGXFWV
(IIHFWLYH2FWREHU
([SLUHV6HSWHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVSURGXFWVXVHGWRGUDZXSDQGDGPLQLVWHU
OLTXLGVRUPHGLFDWLRQVYLDLQWUDGHUPDOVXEFXWDQHRXVLQWUDPXVFXODU
RU,9VDQGWKDWKDYHDQDWWDFKHGVDIHW\GHYLFHWRSUHYHQWDFFLGHQWDO
VKDUSVLQMXULHV
6XSSOLHU
&ODVVRIWUDGH
x
x
x
57,DQG6PLWKV0HGLFDODUHDYDLODEOHWRDFXWHFDUH
FRQWLQXXPRIFDUHDQG3UHPLHU5($&+PHPEHUV
%'LVDYDLODEOHWRKHDOWKFDUHSURYLGHUVRQO\
&RYLGLHQLVDYDLODEOHWRVSHFLILFDFXWHFDUHQRQDFXWH
KHDOWKFDUHVFKRROVFROOHJHVDQGXQLYHUVLWLHV6HHYDOXH
DQDO\VLVWRRONLWIRUPRUHGHWDLOV
%'
=DFN0RRUH
&RYLGLHQ
*UHJ
*RRGDOO
57,
3DWWL.LQJ
[
]DFKDU\PRRUH#FDUHIXVLR
QFRP
JUHJMJRRGDOO#PHGWURQLF
FRP
UWLNLQJ#YDQLVKSRLQWFRP
6PLWKV
MXOLHWODUVRQ#VPLWKV
-XOLHW/DUVRQ 0HGLFDO
PHGLFDOFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-XO\)RUXSWRGDWH
FRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHUDQGKLJKHUZLWK%'
&RYLGLHQDQG6PLWKV0HGLFDO
57,RIIHUVDVLQJOHWLHUZKHUH30')3$LVQRWUHTXLUHG
&RYLGLHQUHTXLUHVD3ULPDU\*URXS'HVLJQDWLRQ)RUPLIQRW
SUHYLRXVO\GHFODUHG
1HZ
3316
$616
3316
$616
([SLULQJ
3316
$616
3316
$616
3316
3316
3316
3316
57,LVDVPDOOEXVLQHVVHQWHUSULVH 6%( )LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 9DOXHDGGV
x 0LQLPXPRUGHUUHTXLUHPHQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 6KDUSVLQMXU\SUHYHQWLRQ
x 1HHGOHVWLFNVDIHW\
x &OLQLFLDQVDIHW\
x (DVHRIXVHIRUKRPHLQMHFWLRQV
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x &RQYHUVLRQDVVLVWDQFHDQGWULDOV
RIIHUHGE\VXSSOLHUV
x &ODVVRIWUDGHUHVWULFWLRQV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
x
%'DOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPV*32VDQGHVWDEOLVKHGQHWZRUNV
&RYLGLHQDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVZLWKWKHDELOLW\WRLQIOXHQFHGHFLVLRQV
6PLWKV0HGLFDODOORZVDJJUHJDWLRQIRUPHPEHUVZKRRZQDQGFHQWUDOO\PDQDJHPXOWLIDFLOLW\V\VWHPVDQGKDYH
WKHDELOLW\WRGULYHSXUFKDVLQJGHFLVLRQV
57,RIIHUVDVLQJOHWLHUZKHUHDJJUHJDWLRQLVQRWDSSOLFDEOH
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWK%'57,DQG6PLWKV0HGLFDO
x 3ULFLQJLVILUPIRUPRQWKVZLWK&RYLGLHQWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWRQDOLQHLWHP
EDVLVIRUHDFKSHUFHQWLQFUHDVHLQDJJUHJDWHFRVW
%'RIIHUVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RYLGLHQRIIHUVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RYLGLHQLVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
&RYLGLHQRIIHUVDTXLFNVWDUWLQFHQWLYH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6DIHW\+\SRGHUPLF3URGXFWV
(IIHFWLYH2FWREHU
([SLUHV6HSWHPEHU
2WKHUNH\YDOXHDQGWHUPV FRQWLQXHG x
x
x
x
57,RIIHUVIODWSULFLQJFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
6PLWKV0HGLFDORIIHUVDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
$YDLODEOHWKURXJKGLVWULEXWLRQ%'&RYLGLHQ57,DQG6PLWKV0HGLFDO
$YDLODEOHGLUHFW&RYLGLHQ57,DQG6PLWKV0HGLFDO
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUFXVWRPL]DWLRQIRUPHPEHU
VSHFLILFQHHGV7KHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7RPDLQWDLQOLQNLQWHJULW\
SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVDOVRLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
6DIHW\,9&DWKHWHUV,9VWDUWFDWKHWHUVHTXLSSHGZLWKDVDIHW\GHYLFHWRSUHYHQWDFFLGHQWDOQHHGOHVWLFNV
6KDUSV'LVSRVDO&RQWDLQHUV&DQLVWHUVIRUVKDUSVPHGLFDOZDVWHDQGWKHUHODWHGDFFHVVRULHVVXFKDV
ZDOOPRXQWLQJVDQGEUDFNHWV
6WDQGDUG+\SRGHUPLF3URGXFWV1RQVDIHW\SURGXFWVXVHGWRGUDZXSDQGDGPLQLVWHUPHGLFDWLRQVYLD
RUDOLQWUDGHUPDOVXEFXWDQHRXVLQWUDPXVFXODURULQWUDYHQRXVLQMHFWLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6DIHW\,9&DWKHWHUV
(IIHFWLYH2FWREHU
([SLUHV6HSWHPEHU
3URGXFWVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVLQWUDYHQRXV ,9 VWDUWFDWKHWHUVZLWKDVDIHW\
GHYLFHWRSUHYHQWDFFLGHQWDOQHHGOHVWLFNV
x
x
57,6PLWKV0HGLFDODQG7HUXPRDUHDYDLODEOHWRDFXWHFDUH
FRQWLQXXPRIFDUHDQG3UHPLHU5($&+PHPEHUV
%%UDXQDUHDYDLODEOHWRDFXWHFDUHDQGQRQDFXWHKHDOWKFDUH
IDFLOLWLHV
%'LVDYDLODEOHWRKHDOWKFDUHSURYLGHUVRQO\
% %UDXQ
%LOO0LOOHU
ELOOPLOOHU#EEUDXQFRP
%'
=DFN0RRUH
]DFKDU\PRRUH#FDUHIXVLRQFRP
57,
3DWWL.LQJ
[
UWLNLQJ#YDQLVKSRLQWFRP
6PLWKV
0HGLFDO
-XOLHW
/DUVRQ
MXOLHWODUVRQ#VPLWKVPHGLFDOFRP
7HUXPR
%RE.ORFN
ERENORFN#WHUXPRPHGLFDOFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-XO\)RUXSWRGDWH
FRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHUDQGKLJKHUZLWK%
%UDXQ%'6PLWKV0HGLFDODQG7HUXPR
$30')3$LVQRWUHTXLUHGIRU57,GXHWRVLQJOHWLHURIIHULQJ
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
6XSSOLHU
1HZ
([SLULQJ
3316 3316
&ODVVRIWUDGH
x
$ZDUGHGVXSSOLHUV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQG
HVWDEOLVKHGQHWZRUNVZLWKDOO%%UDXQ%'DQG7HUXPR
x %%UDXQUHTXLUHVIDFLOLWLHVWRLQGHSHQGHQWO\FRPPLWWR
WKHPDUNHWVKDUHUHTXLUHGE\WKHWLHU
6PLWKV0HGLFDODOORZVDJJUHJDWLRQIRUPHPEHUVZKRRZQDQG
FHQWUDOO\PDQDJHPXOWLIDFLOLW\V\VWHPVDQGKDYHWKHDELOLW\WR
GULYHSXUFKDVLQJGHFLVLRQV
$JJUHJDWLRQIRU57,LVQRWDSSOLFDEOHGXHWRVLQJOHWLHURIIHULQJ
3316 3316
$616 $616
3316 3316
3316 3316
$616 $616
3316
1HZ
57,LVDVPDOOEXVLQHVVHQWHUSULVH 6%( 8SGDWH$XJXVW7HUXPR0HGLFDO
&RUSRUDWLRQKDVJLYHQ3UHPLHUQRWLFHRILWV
FDQFHOODWLRQRIFRQWUDFW3316LQWKH6DIHW\
,9&DWKHWHUFDWHJRU\7KHFDQFHOODWLRQLVHIIHFWLYH
6HSWHPEHU
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 9DOXHDGGVHJUHEDWHV
x 0LQLPXPRUGHUUHTXLUHPHQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 6KDUSVLQMXU\SUHYHQWLRQ
x ,QIXVLRQ1XUVHV6RFLHW\JXLGHOLQHV
x 36,UDWLQJ
x 05,FRPSDWLELOLW\
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x &RQYHUWLQJIURPDFWLYHWRSDVVLYHZLOO
UHTXLUHIXUWKHUVWDIIHGXFDWLRQ
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKDOOVXSSOLHUV
%%UDXQRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
%%UDXQRIIHUVDYDOXHDGGUHEDWHRQ,QWURFDQVDIHW\,9FDWKHWHUV
%'RIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
57,RIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
6PLWKV0HGLFDORIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
$YDLODEOHWKURXJKGLVWULEXWLRQ%%UDXQ%'57,6PLWKV0HGLFDODQG7HUXPR
$YDLODEOHGLUHFW57,DQG6PLWKV0HGLFDO
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6DIHW\,9&DWKHWHUV (IIHFWLYH2FWREHU
([SLUHV6HSWHPEHU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
x
x
,96LWH0DQDJHPHQWDQG$FFHVVRULHV.LWVDQGSURGXFWVXVHGWRVWDUWDQGPDLQWDLQWKHLQWHJULW\RIDQ,9
LQVHUWLRQVLWH
,97KHUDS\3RUWIROLR,QFOXGHVWKHFDWHJRULHVRI,QIXVLRQ'HYLFHVDQG'HYLFHGHGLFDWHG6HWV,QIXVLRQ6HWVDQG
$FFHVVRULHV1HHGOHOHVV&RQQHFWRUV,9)OXLGV%DJEDVHG'UXJ'HOLYHU\DQG7310DFURQXWULHQWVDQG
3KDUPDF\&DSLWDO(TXLSPHQWDQG$GPL[WXUH6XSSOLHV
6DIHW\+\SRGHUPLF3URGXFWV6DIHW\SURGXFWVXVHGWRGUDZXSDQGDGPLQLVWHUPHGLFDWLRQVYLDLQMHFWLRQ
6WDQGDUG+\SRGHUPLF3URGXFWV1RQVDIHW\SURGXFWVXVHGWRGUDZXSDQGDGPLQLVWHUPHGLFDWLRQVYLDLQMHFWLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6KDUSV'LVSRVDO&RQWDLQHUV
(IIHFWLYH0D\
([SLUHV$SULO
3URGXFWVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVFDQLVWHUVGHVLJQHGIRUWKHVDIHFRQWDLQPHQWRI
VKDUSVPHGLFDOZDVWHLQFOXGLQJPL[HGZDVWHFRQWDLQHUVVXFKDVIRU
SKDUPDF\ZDVWHFKHPRWKHUDS\ZDVWHDQGELRKD]DUGZDVWHWKDWDUH
PHDQWWREHGLVSRVDEOHDQGWKHUHODWHGDFFHVVRULHVVXFKDVZDOO
PRXQWLQJVDQGEUDFNHWV
&ODVVRIWUDGH
x
x
%'LVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQ
KHDOWKFDUHIDFLOLWLHV
&RYLGLHQLVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
HGXFDWLRQIDFLOLWLHV
=DFKHU\
]DFKHU\PRRUH#FDUHIXVLR
0RRUH
QFRP
*UHJ
JUHJMJRRGDOO#PHGWURQLF
&RYLGLHQ
FRP
*RRGDOO
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI)HEUXDU\)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
%'
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHUZLWKERWKVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWKERWKVXSSOLHUV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316 3316
3316
3316
$616
)LQDQFLDOFRQVLGHUDWLRQV
x (TXLSPHQWUHSDLUDQGLQVWDOODWLRQ
FRVWV
x 9ROXPHGLIIHUHQFHVDPRQJ
FRQWDLQHUV
x 9DOXHDGGVHJTXLFNVWDUW
UHEDWHV
6DIHW\DQGSDWLHQWVDWLVIDFWLRQ
x 1HHGOHVWLFNVDIHW\
x 26+$EORRGERUQHSDWKRJHQ
UHTXLUHPHQWV
x *UHHQUHF\FOHGRSWLRQV
x (DVHRIXVHDQGDFFHVVLELOLW\
x &RQWDLQHUZLOOQRWVSLOOFRQWHQWV
HYHQZKHQGURSSHG
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x 0RXQWLQJDQGEUDFNHWFRQYHUVLRQ
FRVWV
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWK%'
&RYLGLHQLVILUPIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVH
XSWRSHUFHQWRQDOLQHLWHPEDVLVIRUHDFKSHUFHQW
LQFUHDVHLQDJJUHJDWHFRVW
%'¶VQHZDJUHHPHQWRIIHUVDSHUFHQWLQFUHDVHFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RYLGLHQ¶VQHZDJUHHPHQWRIIHUVIODWSULFLQJFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RYLGLHQRIIHUVDSHUFHQWTXLFNVWDUWLQFHQWLYHUHEDWH
%'LVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ%'DQG&RYLGLHQ
$YDLODEOHGLUHFW&RYLGLHQ GLUHFWRUGHUIHHDSSOLHV
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6KDUSV'LVSRVDO&RQWDLQHUV
(IIHFWLYH0D\
([SLUHV$SULO
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EH
EURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH $Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
,QVWUXPHQW&RQWDLQHUV&RQWDLQHUVXVHGIRUVWRUDJHDQGVWHULOL]DWLRQRIVXUJLFDOLQVWUXPHQWV
:DVWH0DQDJHPHQW3URGXFWVDQG6HUYLFHV&RQVXOWLQJZDVWHDXGLWVFROOHFWLRQKDXOLQJLQFLQHUDWLRQODQGILOO
SKDUPDFHXWLFDOGLVSRVDOUHJXODWHGPHGLFDOZDVWHGLVSRVDOUHXVDEOHVKDUSVFRQWDLQHUVHUYLFHVUHF\FOLQJ
ELRUHPHGLDWLRQDQGRWKHUZDVWHVWUHDPV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6KRZHU6OHHYH3,&&,9&RYHUVDQG&DVW
&RYHUV
(IIHFWLYH-XQHWKURXJK0D\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVZDWHUSURRIFRYHUVIRUFDVWVEDQGDJHVZRXQGV
3,&&OLQHVPLGOLQHVDQGSHULSKHUDO,9FDWKHWHUV,WDOVRLQFOXGHVUHXVDEOH
3,&&DQG,9FRYHUV7KHVHSURGXFWVDUHXVHGWRDLGSDWLHQWVLQPDLQWDLQLQJ
GU\GUHVVLQJV,9VDQGFDVWVZKLOHEDWKLQJDVZHOODVSURWHFW3,&&,9OLQHV
DQGGUHVVLQJVIURPH[SRVXUHWRRXWVLGHDJHQWV
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
3316
1HZ
7KLVFDWHJRU\ZDVSUHYLRXVO\VRXUFHGDV'LVSRVDEOH6KRZHU6OHHYHDQG
&DVW&RYHUV
3316
1HZ
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
3316 3316
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK36&
$30')3$LVQRWUHTXLUHGZLWK*&DUH:HDURU&HQRULQGXHWR
VLQJOHWLHURIIHULQJV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWKDOOVXSSOLHUV
3316 3316
36&6ROXWLRQV
&HQRULQLVDVPDOOEXVLQHVVHQWHUSULVH 6%( 36&LV
DPLQRULW\RZQHGEXVLQHVV 0%( $6&(1'7KHUHLVQR$6&(1'DZDUGLQWKLV
FDWHJRU\
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOV
x &HQRULQ¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 36&¶VQHZDJUHHPHQWSULFLQJKDVEHWZHHQSHUFHQWVDYLQJVWRSHUFHQWLQFUHDVHFRPSDUHGWRLWV
H[SLULQJDJUHHPHQWSULFLQJ
x *LVWKHORZFRVWVXSSOLHURQFURVVHGLWHPV
*DQG36&RIIHUUHEDWHV6HHYDOXHDGGVVHFWLRQLQWKHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
*DQG36&RIIHUHDUO\SD\PHQWGLVFRXQWV
$YDLODEOHWKURXJKGLVWULEXWLRQ*&HQRULQDQG36&
$YDLODEOHGLUHFW*&DUH:HDU&HQRULQDQG36&
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
x
x
*0HGLFDO//&:DUUHQ:DOOLVJPHGLFDOZZ#JPDLOFRP
&DUH:HDU,QF7HUUDQFH&RQQROO\WM#FDUHDQGZHDUFRP
&HQRULQ//&-RH5HGPDQMUHGPDQ#FHQRULQFRP
36&6ROXWLRQV,QF5RELQ/LWWOHURELQOLWWOH#VKRZHUFRYHUVFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0DUFK)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\
&KDLQ$GYLVRU
5HODWHGFDWHJRULHV
x
x
&DVWLQJDQG6SOLQWLQJ3ODVWLFV\QWKHWLFDQGILEHUJODVVPDWHULDOVXVHGWRGHYHORSVSOLQWVRUFDVWVLQRUGHUWRLPPRELOL]H
RUVWDELOL]HRUWKRSHGLFLQMXULHV
3,&&DQG0LGOLQH3URGXFWV3HULSKHUDOO\LQVHUWHGFHQWUDOYHQRXVFDWKHWHUV 3,&&V PLGOLQHFDWKHWHUVVKHDWKVGLODWRUV
DQGNLWV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6KRZHU6OHHYH3,&&,9&RYHUVDQG&DVW
&RYHUV
(IIHFWLYH-XQHWKURXJK0D\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLV
GRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6NLQ%UHDNGRZQ3UHYHQWLRQ3URGXFWV
(IIHFWLYH-XO\
([SLUHV-XQH
3URGXFWVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVKHHOSURWHFWRUVSURWHFWLYHERRWVHOERZ
SURWHFWRUVEHGSRVLWLRQHUVWXUQDQGSRVLWLRQV\VWHPVZKHHOFKDLU
FXVKLRQVDQGIRRWGURSSUHYHQWLRQDLGV
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV0HGOLQHDQG0|OQO\FNHKDYHVRPHFODVV
RIWUDGHUHVWULFWLRQV
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316
1HZ
3316
6'$&
3316
1HZ
3316
33$&
$6$&
3316
$616
1HZ
3316
33$&
'H5R\DO
0DWW6SDOGLQJ
PVSDOGLQJ#GHUR\DOFRP
'0
6\VWHPV
-RKQ'UHQQDQ
MRKQ#GPV\VWHPVFRP
(+2%
'DYH'HQWRQ
[
GDYHGHQWRQ#HKREFRP
-RHUQV
&ROLQ6DQGHUV
FROLQVDQGHUV#MRHUQVFRP
0HGOLQH
0DUN3DUU\
PSDUU\#PHGOLQHFRP
3316
33$&
$6$&
0|OQO\FNH
'DQ6WHZDUW
GDQVWHZDUW#PROQO\FNHFRP
3316
33$&
6DJH
*UHJ&RUEHWW
JUHJFRUEHWW#VWU\NHUFRP
6WU\NHU
&KULVWRSKHU
&KDSSXV
FKULVWRSKHUFKDSSXV#VWU\NHU
FRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI)HEUXDU\)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHUZLWK
'H5R\DO'06\VWHPV(+2%0|OQO\FNH6DJHDQG6WU\NHU
-RHUQVDQG0HGOLQHGRQRWUHTXLUH30')3$GXHWRVLQJOHWLHU
RIIHULQJ
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXS
SXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVZLWK
'H5R\DO'06\VWHPV(+2%0|OQO\FNH6DJHDQG6WU\NHU
$JJUHJDWLRQLVQRWDSSOLFDEOHZLWK-RHUQVDQG0HGOLQHGXHWR
VLQJOHWLHURIIHULQJ
'06\VWHPVLVDYHWHUDQRZQHGEXVLQHVV
HQWHUSULVH 9%( 0|OQO\FNHDFTXLUHG6XQGDQFHLQ)HEUXDU\
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 0LQLPXPRUGHUV
x *UDQGIDWKHULQJ
x 9DOXHDGGVVXFKDVWUDGHLQ
SURJUDPVDQGUHEDWHV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x &OLQLFDOSUDFWLFHJXLGHOLQHV
x 3URGXFWVL]HVDYDLODEOH
x 3DWLHQWSRSXODWLRQ HJDJH
SUHVVXUHXOFHUVWDJH
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKDOOVXSSOLHUH[FHSW6WU\NHUZKRLVILUPIRUWZR\HDUV
'06\VWHPVRIIHUVDQRYHUDOOSHUFHQWVDYLQJVFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
-RHUQVRIIHUVDQRYHUDOOSHUFHQWLQFUHDVHFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0|OQO\FNHRIIHUVDQRYHUDOOSHUFHQWVDYLQJVFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
6DJHRIIHUVDQRYHUDOOSHUFHQWLQFUHDVHFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
6WU\NHURIIHUVDQRYHUDOOSHUFHQWLQFUHDVHFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
$YDLODEOHWKURXJKGLVWULEXWLRQ'H5R\DO'06\VWHPV(+2%-RHUQV0HGOLQH0|OQO\FNH6DJHDQG6WU\NHU
$YDLODEOHGLUHFW'H5R\DO'06\VWHPV-RHUQV0HGOLQH0|OQO\FNHDQG6WU\NHU
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6NLQ%UHDNGRZQ3UHYHQWLRQ3URGXFWV
(IIHFWLYH-XO\
([SLUHV-XQH
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
x
x
0RELOLW\$LGV'HYLFHVGHVLJQHGWRDVVLVWZLWKSHUVRQDOPRELOLW\LQFOXGLQJFDQHVFUXWFKHVNQHHZDONHUV
PRWRUL]HGVFRRWHUVZDONHUVDQGZKHHOFKDLUV
253DWLHQW3RVLWLRQLQJ3URGXFWV3UHIRUPHGIRDPRUJHOILOOHGSRVLWLRQHUSURGXFWVWKDWDLGLQSDWLHQW
SRVLWLRQLQJDQGSUHYHQWLRQRISUHVVXUHLQMXULHVGXULQJDVXUJLFDOSURFHGXUH
3DWLHQW&OHDQVLQJDQG6NLQ&DUH %DJ%DVHG 6LQJOHDSSOLFDWLRQSURGXFWVXVHGLQWKHFDUHRISDWLHQWVIRU
K\JLHQHDQGPDLQWHQDQFHRIVNLQLQWHJULW\WKDWDUHSDFNDJHGLQDGLVSRVDEOHEDJHJ³EDWKLQDEDJ´
6NLQ,QWHJULW\±3UHYHQWLRQ+HDOLQJDQG6XSSRUW3DWLHQWFOHDQVLQJDQGVNLQFDUHLWHPVIRUPHUO\WKH
$GYDQFHG:RXQG&DUHDQG3DWLHQW&OHDQVLQJDQG6NLQ&DUH 7UDGLWLRQDO FDWHJRULHV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6NLQ,QWHJULW\&RPSUHVVLRQ:UDSV
(IIHFWLYH$SULO
([SLUHV0DUFK
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVSURGXFWVXVHGLQWKHWUHDWPHQWDQGSUHYHQWLRQ
RIHGHPDYHQRXVLQVXIILFLHQFLHVDQGO\PSKDWLFGLVRUGHUVRI
H[WUHPLWLHV HJPXOWLOD\HUFRPSUHVVLRQWRWDOFRQWDFWFDVWLQJDQG
8QQDERRW 7KHVHSURGXFWVZHUHSUHYLRXVO\LQFOXGHGLQWKH6NLQ,QWHJULW\
3UHYHQWLRQ+HDOLQJDQG6XSSRUWFDWHJRU\3ULPDU\VHFRQGDU\
GUHVVLQJVVNLQFOHDQVHUVEDUULHUVORWLRQVDQGVXUJLFDOLUULJDWLRQ
VROXWLRQVDOVRDYDLODEOHRQWKHSULRUDJUHHPHQWKDYHEHHQVSOLWLQWR
WKHLURZQFDWHJRULHV±6NLQ,QWHJULW\3ULPDU\6HFRQGDU\:RXQG&DUH
'UHVVLQJVDQG:RXQG'HEULGHPHQW6NLQ,QWHJULW\6NLQ&OHDQVHU
%DUULHUDQG/RWLRQ3URGXFWVDQG6XUJLFDO,UULJDWLRQ6ROXWLRQV
&ODVVRIWUDGH
x
x
%61'HUPD6FLHQFHV0HGOLQH0|OQO\FNHDQG6PLWK
1HSKHZDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHV
0LVDYDLODEOHWRVHOHFWKHDOWKFDUHIDFLOLWLHV6HHYDOXH
DQDO\VLVWRRONLWIRUVSHFLILFFODVVRIWUDGHH[FOXVLRQV
0
5RGJHU
5DWOLII
UGUDWOLII#PPPFRP
%61
-R\:ULJKW
MR\ZULJKW#EVQPHGLFDOFRP
'HUPD
6FLHQFHV
(G(LVHQORUG
HHLVHQORUG#GHUPDVFLHQFHV
FRP
0HGOLQH
'HUULFN
)LWFKHQD
GILWFKHQD#PHGOLQHFRP
0|OQO\FNH
'DQ6WHZDUW
GDQVWHZDUW#PROQO\FNHFRP
6PLWK GDYLGMRQHV#VPLWK
'DYLG-RQHV 1HSKHZ
QHSKHZFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI)HEUXDU\)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316 3316
3316 33$&
3316 3316
3316 33$&
3316 33$&
3316 3316
&XUUHQWDJUHHPHQWVZLWK$OOLTXD 3316 &DUGLQDO 3316 &DURORQ 33$& 'XGOH\ 33$& )HUULV 3316 +DUWPDQQ 3316 6XPPLW 6'$& DQG
:RXQG9LVLRQ 3316 H[SLUH0DUFK
7KHUHLVQR$6&(1'DZDUGLQWKLVFDWHJRU\
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 3UHVVXUHXOFHUVRUVRUHV
GHYHORSHGGXULQJWKHSDWLHQW¶VVWD\
DUHQRWUHLPEXUVHG
x *UDQGIDWKHULQJ
x 0LQLPXPRUGHUUHTXLUHPHQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 5LJLGYVHODVWLFFRPSUHVVLRQ
x 1XPEHURIFRPSUHVVLRQOD\HUV
QHHGHG
x :UDSVRUWXEXODUFRPSUHVVLRQ
x /DWH[DOOHUJLHV
5RDGEORFNVWRFRQYHUVLRQ
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK0
%610HGOLQH0|OQO\FNHDQG6PLWK 1HSKHZ
$30')3$LVQRWUHTXLUHGZLWK'HUPD6FLHQFHVGXHWRVLQJOHWLHURIIHULQJ
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
%61'HUPD6FLHQFHV0HGOLQHDQG6PLWK 1HSKHZDOORZDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXS
SXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
0DOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRI
IDFLOLWLHV0UHTXLUHVPHPEHU¶VRZQHGRUFRQWUROOHGIDFLOLWLHVWRLQGHSHQGHQWO\FRPPLWWRWKHSDUWLFLSDWLRQ
UHTXLUHGE\WKHWLHU
0|OQO\FNHDOORZVQRQDFXWHDIILOLDWHVDQGQRQ2/0QRQDFXWHPHPEHUVWRDJJUHJDWHWRPHHWWLHUWKUHVKROGV
$FXWHDQG2/0IDFLOLWLHVPD\DJJUHJDWHWRPHHWWLHUWKUHVKROGV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6NLQ,QWHJULW\&RPSUHVVLRQ:UDSV
(IIHFWLYH$SULO
([SLUHV0DUFK
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPZLWKDOOVXSSOLHUVZLWKWKHH[FHSWLRQRI0|OQO\FNH
x 0|OQO\FNHSULFLQJLVILUPIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWRQDOLQH
LWHPEDVLVDQQXDOO\
0RIIHUVSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
'HUPD6FLHQFHVRIIHUVIODWSULFLQJRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0HGOLQHRIIHUVIODWSULFLQJRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0|OQO\FNHRIIHUVIODWSULFLQJRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
6PLWK 1HSKHZRIIHUVIODWSULFLQJRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
'HUPD6FLHQFHVLVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ0%61'HUPD6FLHQFHV0HGOLQH0|OQO\FNHDQG6PLWK 1HSKHZ
$YDLODEOHGLUHFW%61'HUPD6FLHQFHV0HGOLQH0|OQO\FNHDQG6PLWK 1HSKHZ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
x
x
x
x
x
x
%DQGDJHV'UHVVLQJVDQG*DX]H$GKHVLYHEDQGDJHVDEGRPLQDO $%' SDGVFRWWRQEDOOVSUHSVSRQJHV
HODVWLFEDQGDJHVJDX]HSDGVUROOVVSRQJHVDQGFRYHUVQRQDGKHUHQWGUHVVLQJVDQGDOFRKROSUHSSDGV
/RZ)UHTXHQF\8OWUDVRQLF:RXQG7KHUDS\1RQFRQWDFWORZIUHTXHQF\XOWUDVRXQGWKHUDS\WKDWLVLQGLFDWHG
WRSURPRWHZRXQGKHDOLQJXVLQJVRXQGZDYHVWRPHFKDQLFDOO\VWLPXODWHFHOOV
1HJDWLYH3UHVVXUH:RXQG7KHUDS\7UHDWPHQWV\VWHPVGHVLJQHGWRIDFLOLWDWHKHDOLQJRIZRXQGVZLWKQHJDWLYH
SUHVVXUHWRWKHZRXQGVLWHLQFOXGLQJYDFXXPSXPSVFROOHFWLRQFDQLVWHUVDQGGUHVVLQJV
3DWLHQW&OHDQVLQJDQG6NLQ&DUH %DJ%DVHG 6LQJOHDSSOLFDWLRQSURGXFWVXVHGLQWKHFDUHRISDWLHQWVIRU
K\JLHQHDQGPDLQWHQDQFHRIVNLQLQWHJULW\WKDWDUHSDFNDJHGLQDGLVSRVDEOHEDJHJ³EDWKLQDEDJ´
5HJHQHUDWLYH6NLQ*UDIWLQJ3URGXFWV7HFKQRORJLHVWKDWHQKDQFHWKHELRORJLFDOSULQFLSOHVRIWLVVXHUHVSRQVH
WRLQMXU\IRFXVLQJRQWLVVXHUHJHQHUDWLRQDQGVNLQUHSODFHPHQW
6NLQ%UHDNGRZQ3UHYHQWLRQ3URGXFWV+HHOSURWHFWRUVSURWHFWLYHERRWVHOERZSURWHFWRUVEHGSRVLWLRQHUV
WXUQDQGSRVLWLRQV\VWHPVZKHHOFKDLUFXVKLRQVDQGIRRWGURSSUHYHQWLRQDLGV
6NLQ,QWHJULW\3ULPDU\6HFRQGDU\:RXQG&DUH'UHVVLQJVDQG:RXQG'HEULGHPHQW3ULPDU\GUHVVLQJV
WKDWFRPHLQGLUHFWFRQWDFWZLWKZRXQGEHGVHFRQGDU\GUHVVLQJZKLFKDUHXVHGWRFRYHUDSULPDU\GUHVVLQJ
ZKHQWKHGUHVVLQJGRHVQRWSURWHFWWKHZRXQGIURPFRQWDPLQDWLRQRFFOXVLYHDQGVHPLRFFOXVLYHGUHVVLQJV
6NLQ,QWHJULW\6NLQ&OHDQVHU%DUULHUDQG/RWLRQ3URGXFWV6NLQ&OHDQVHUVPRLVWXUL]HUVSURWHFWDQWVEDUULHU
ZLSHVORWLRQVDQGVSUD\VDQWLIXQJDOVSHULQHDOZDVKHVDQGERG\ZDVK
6XUJLFDO,UULJDWLRQ6ROXWLRQV6WHULOHVXUJLFDOVROXWLRQVXVHGWRLUULJDWHDQGFOHDQVHWKHVXUJLFDOVLWHGXULQJ
SURFHGXUHV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6NLQ,QWHJULW\3ULPDU\6HFRQGDU\:RXQG&DUH'UHVVLQJV
DQG:RXQG'HEULGHPHQW
(IIHFWLYH$SULO
([SLUHV0DUFK
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVSULPDU\GUHVVLQJVWKDWFRPHLQGLUHFWFRQWDFWZLWK
ZRXQGEHGVHFRQGDU\GUHVVLQJZKLFKDUHXVHGWRFRYHUDSULPDU\GUHVVLQJ
ZKHQWKHGUHVVLQJGRHVQRWSURWHFWWKHZRXQGIURPFRQWDPLQDWLRQRFFOXVLYH
DQGVHPLRFFOXVLYHGUHVVLQJV
6XSSOLHU
&UDZIRUG'HUPD6FLHQFHV0HGOLQH0|OQO\FNHDQG6PLWK 1HSKHZDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQ
KHDOWKFDUHIDFLOLWLHV
&RORSODVW&RQYD7HF+ROOLVWHUDQG.&,DUHDYDLODEOHWRVHOHFW
KHDOWKFDUHIDFLOLWLHV
&RORSODVW
/LVD0XOU\
XVODP#FRORSODVWFRP
&RQYD7HF
.HLWK
5REHUWV
NHLWKUREHUWV#FRQYDWHFFRP
&UDZIRUG
'DYH3RVWHQ
'HUPD
6FLHQFHV
(G(LVHQORUG
+ROOLVWHU
/LVD&ODUNH
[
OLVDFODUNH#KROOLVWHUFRP
JJDUODQG#DFHOLW\FRP
GILWFKHQD#PHGOLQHFRP
GDQVWHZDUW#PROQO\FNHFRP
*UHJ
*DUODQG
'HUULFN
)LWFKHQD
.&,
0HGOLQH
0|OQO\FNH
'DQ6WHZDUW
GDYHSRVWHQ#FUDZIRUGKHDOWK
FDUHFRP
HHLVHQORUG#GHUPDVFLHQFHV
FRP
6PLWK GDYLGMRQHV#VPLWK
'DYLG-RQHV 1HSKHZ
QHSKHZFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-XQH)RUXSWRGDWH
FRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK&RORSODVW
&RQYD7HF&UDZIRUG+ROOLVWHU.&,0HGOLQH0|OQO\FNHDQG6PLWK 1HSKHZ
$30')3$LVQRWUHTXLUHGZLWK'HUPD6FLHQFHVGXHWRVLQJOHWLHU
RIIHULQJ
3316
33$&
$616
3316 33$&
3316 33$&
3316 3316
3316 3316
&ODVVRIWUDGH
x
([SLULQJ
3316 33$&
3316
$616 33$&
7KHVHSURGXFWVZHUHSUHYLRXVO\LQFOXGHGLQWKH6NLQ,QWHJULW\3UHYHQWLRQ
+HDOLQJDQG6XSSRUWFDWHJRU\6NLQFOHDQVHUVEDUULHUVORWLRQVFRPSUHVVLRQ
ZUDSVDQGVXUJLFDOLUULJDWLRQVROXWLRQVDOVRDYDLODEOHRQWKHSULRUDJUHHPHQW
KDYHEHHQVSOLWLQWRWKHLURZQFDWHJRULHV±6NLQ,QWHJULW\6NLQ&OHDQVHU
%DUULHUDQG/RWLRQ3URGXFWV6NLQ,QWHJULW\&RPSUHVVLRQ:UDSVDQG6XUJLFDO
,UULJDWLRQ6ROXWLRQV
x
1HZ
3316 33$&
3316 3316
&UDZIRUGLVDVPDOOEXVLQHVVHQWHUSULVH 6%( &XUUHQWDJUHHPHQWVZLWK$OOLTXD 3316 &DUGLQDO 3316 &DURORQ 33$& 'XGOH\ 33$& )HUULV 3316 +DUWPDQQ 3316 6XPPLW 6'$& DQG
:RXQG9LVLRQ 3316 H[SLUH0DUFK
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 3UHVVXUHXOFHUVRUVRUHVGHYHORSHG
GXULQJWKHSDWLHQW¶VVWD\DUHQRW
UHLPEXUVHG
x *UDQGIDWKHULQJ
x 0LQLPXPRUGHUUHTXLUHPHQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x :HDUWLPH
x 6NLQIULHQGO\DGKHVLYHV
x $EVRUSWLRQOHYHO
x 6KDSHVDYDLODEOH
x $QWLPLFURELDONLOOUDWHV
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
&RORSODVW&UDZIRUG'HUPD6FLHQFHV+ROOLVWHU0HGOLQHDQG6PLWK 1HSKHZDOORZDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPV
JURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
&RQYD7HFDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\,'1VZLWKWKHDELOLW\WRPDNHSXUFKDVLQJGHFLVLRQVIRUWKHLURZQHGOHDVHGRU
PDQDJHG 2/0 IDFLOLWLHV$JJUHJDWLRQLVDOORZHGIRUQRQ2/0DIILOLDWHVDVDVWDQGDORQHJURXSDVLGHIURP2/0V1RQ2/0
DIILOLDWHJURXSVPXVWVXEPLWDVHSDUDWHSULFHDFWLYDWLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6NLQ,QWHJULW\3ULPDU\6HFRQGDU\:RXQG&DUH'UHVVLQJV
DQG:RXQG'HEULGHPHQW
(IIHFWLYH$SULO
([SLUHV0DUFK
$JJUHJDWLRQRSSRUWXQLWLHV FRQWLQXHG x
x
.&,DOORZVDJJUHJDWLRQIRUPHPEHUVZKRRZQDQGRSHUDWHPXOWLIDFLOLW\V\VWHPVDQGJURXSSXUFKDVLQJRUJDQL]DWLRQVWKDW
VKDUHFRPPRQRZQHUVKLSDQGGLUHFWRSHUDWLRQDOPDQDJHPHQW
0|OQO\FNHDOORZVQRQDFXWHDIILOLDWHVDQGQRQ2/0QRQDFXWHPHPEHUVWRDJJUHJDWHWRPHHWWLHUWKUHVKROGV$FXWHDQG2/0
IDFLOLWLHVPD\DJJUHJDWHWRPHHWWLHUWKUHVKROGV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPZLWKDOOVXSSOLHUVZLWKWKHH[FHSWLRQRI0|OQO\FNH
x
0|OQO\FNHSULFLQJLVILUPIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWRQDOLQHLWHPEDVLVDQQXDOO\
&RORSODVWRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RQYD7HFRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&UDZIRUGRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
'HUPD6FLHQFHVRIIHUVIODWSULFLQJFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
+ROOLVWHURIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
.&,RIIHUVSHUFHQWVDYLQJVFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0HGOLQHRIIHUVSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0|OQO\FNHRIIHUVIODWSULFLQJFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
6PLWK 1HSKHZRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&UDZIRUGLVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ&RORSODVW&RQYD7HF&UDZIRUG'HUPD6FLHQFHV+ROOLVWHU.&,0HGOLQH0|OQO\FNHDQG6PLWK
1HSKHZ
$YDLODEOHGLUHFW&RORSODVW&UDZIRUG'HUPD6FLHQFHV+ROOLVWHU0HGOLQH0|OQO\FNHDQG6PLWK 1HSKHZ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRUPHPEHU
VSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLV
GRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDOHTXLYDOHQWV%RWK
QRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
x
x
x
x
x
%DQGDJHV'UHVVLQJVDQG*DX]H$GKHVLYHEDQGDJHVDEGRPLQDO $%' SDGVFRWWRQEDOOVSUHSVSRQJHVHODVWLF
EDQGDJHVJDX]HSDGVUROOVVSRQJHVDQGFRYHUVQRQDGKHUHQWGUHVVLQJVDQGDOFRKROSUHSSDGV
1HJDWLYH3UHVVXUH:RXQG7KHUDS\7UHDWPHQWV\VWHPVGHVLJQHGWRIDFLOLWDWHKHDOLQJRIZRXQGVZLWKQHJDWLYHSUHVVXUHWR
WKHZRXQGVLWHLQFOXGLQJYDFXXPSXPSVFROOHFWLRQFDQLVWHUVDQGGUHVVLQJV
3DWLHQW&OHDQVLQJDQG6NLQ&DUH %DJ%DVHG 6LQJOHDSSOLFDWLRQSURGXFWVXVHGLQWKHFDUHRISDWLHQWVIRUK\JLHQHDQG
PDLQWHQDQFHRIVNLQLQWHJULW\WKDWDUHSDFNDJHGLQDGLVSRVDEOHEDJHJ³EDWKLQDEDJ´
5HJHQHUDWLYH6NLQ*UDIWLQJ3URGXFWV7HFKQRORJLHVWKDWHQKDQFHWKHELRORJLFDOSULQFLSOHVRIWLVVXHUHVSRQVHWRLQMXU\
IRFXVLQJRQWLVVXHUHJHQHUDWLRQDQGVNLQUHSODFHPHQW
6NLQ%UHDNGRZQ3UHYHQWLRQ3URGXFWV+HHOSURWHFWRUVSURWHFWLYHERRWVHOERZSURWHFWRUVEHGSRVLWLRQHUVWXUQDQG
SRVLWLRQV\VWHPVZKHHOFKDLUFXVKLRQVDQGIRRWGURSSUHYHQWLRQDLGV
6NLQ,QWHJULW\&RPSUHVVLRQ:UDSV0XOWLOD\HUFRPSUHVVLRQWRWDOFRQWDFWFDVWLQJDQGXQQDERRWV
6NLQ,QWHJULW\6NLQ&OHDQVHU%DUULHUDQG/RWLRQ3URGXFWV6NLQ&OHDQVHUVPRLVWXUL]HUVSURWHFWDQWVEDUULHUZLSHVORWLRQV
DQGVSUD\VDQWLIXQJDOVSHULQHDOZDVKHVDQGERG\ZDVK
6XUJLFDO,UULJDWLRQ6ROXWLRQV6WHULOHVXUJLFDOVROXWLRQVXVHGWRLUULJDWHDQGFOHDQVHWKHVXUJLFDOVLWHGXULQJSURFHGXUHV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6NLQ,QWHJULW\6NLQ&OHDQVHU%DUULHUDQG/RWLRQ3URGXFWV (IIHFWLYH$SULO
([SLUHV0DUFK
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVSURGXFWVXVHGRQDSDWLHQWWRLPSURYHPDLQWDLQ
SURWHFWDQGSURPRWHKHDOLQJRIWKHSDWLHQW¶VGHUPDODQGHSLGHUPDOVNLQ HJ
VNLQFOHDQVHUVPRLVWXUL]HUVSURWHFWDQWVEDUULHUZLSHVORWLRQVDQGVSUD\V
DQWLIXQJDOVSHULQHDOZDVKHVDQGERG\ZDVK 7KHVHSURGXFWVZHUHSUHYLRXVO\LQFOXGHGLQWKH6NLQ,QWHJULW\3UHYHQWLRQ
+HDOLQJDQG6XSSRUWFDWHJRU\3ULPDU\VHFRQGDU\GUHVVLQJVFRPSUHVVLRQ
ZUDSVDQGVXUJLFDOLUULJDWLRQVROXWLRQVDOVRDYDLODEOHRQWKHSULRUDJUHHPHQW
KDYHEHHQVSOLWLQWRWKHLURZQFDWHJRULHV±6NLQ,QWHJULW\3ULPDU\6HFRQGDU\
:RXQG&DUH'UHVVLQJVDQG:RXQG'HEULGHPHQW6NLQ,QWHJULW\&RPSUHVVLRQ
:UDSVDQG6XUJLFDO,UULJDWLRQ6ROXWLRQV
&ODVVRIWUDGH
x
x
&UDZIRUG0HGOLQH0|OQO\FNHDQG6PLWK 1HSKHZDUHDYDLODEOHWR
DFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
0&RORSODVWDQG&RQYD7HFDUHDYDLODEOHWRVHOHFWKHDOWKFDUH
IDFLOLWLHV
0
5RGJHU
5DWOLII
UGUDWOLII#PPPFRP
&RORSODVW
/LVD0XOU\
XVODP#FRORSODVWFRP
&RQYD7HF
.HLWK
5REHUWV
NHLWKUREHUWV#FRQYDWHFFRP
&UDZIRUG
'DYH3RVWHQ
GDYHSRVWHQ#FUDZIRUGKHDOWK
FDUHFRP
0HGOLQH
'HUULFN
)LWFKHQD
GILWFKHQD#PHGOLQHFRP
0|OQO\FNH
'DQ6WHZDUW
GDQVWHZDUW#PROQO\FNHFRP
6PLWK GDYLGMRQHV#VPLWK
'DYLG-RQHV 1HSKHZ
QHSKHZFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-DQXDU\)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ
3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKDOOVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
x
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316 3316
3316 33$&
3316
33$&
$616
3316 3316
3316 33$&
3316 33$&
3316 3316
&UDZIRUGLVDVPDOOEXVLQHVVHQWHUSULVH 6%( &XUUHQWDJUHHPHQWVZLWK$OOLTXD 3316 &DUGLQDO 3316 &DURORQ 33$& 'XGOH\ 33$& )HUULV 3316 +DUWPDQQ 3316 6XPPLW 6'$& DQG
:RXQG9LVLRQ 3316 H[SLUH0DUFK
)LQDQFLDOFRQVLGHUDWLRQV
x
5HLPEXUVHPHQW
x
3UHVVXUHXOFHUVRUVRUHVGHYHORSHG
GXULQJWKHSDWLHQW¶VVWD\DUHQRW
UHLPEXUVHG
x
*UDQGIDWKHULQJ
x
0LQLPXPRUGHUUHTXLUHPHQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x
&OHDQVHUVZLWKQHXWUDOS+OHYHOV
x
5HVLGXHOHIWRQWKHSDWLHQW¶VVNLQ
x
3URGXFWVWKDWDUHIUDJUDQFHG\HDQG
SUHVHUYDWLYHIUHH
5RDGEORFNVWRFRQYHUVLRQ
x
([LVWLQJVXSSOLHUUHODWLRQVKLSV
&RORSODVW&UDZIRUG0HGOLQHDQG6PLWK 1HSKHZDOORZDJJUHJDWLRQ
IRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQG
HVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
0DOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV0
UHTXLUHVPHPEHU¶VRZQHGRUFRQWUROOHGIDFLOLWLHVWRLQGHSHQGHQWO\FRPPLWWRWKHSDUWLFLSDWLRQUHTXLUHGE\WKHWLHU
&RQYD7HFDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\,'1VZLWKWKHDELOLW\WRPDNHSXUFKDVLQJGHFLVLRQVIRUWKHLURZQHGOHDVHGRU
PDQDJHG 2/0 IDFLOLWLHV$JJUHJDWLRQLVDOORZHGIRUQRQ2/0DIILOLDWHVDVDVWDQGDORQHJURXSDVLGHIURP2/0V1RQ2/0
DIILOLDWHJURXSVPXVWVXEPLWDVHSDUDWHSULFHDFWLYDWLRQ
0|OQO\FNHDOORZVQRQDFXWHDIILOLDWHVDQGQRQ2/0QRQDFXWHPHPEHUVWRDJJUHJDWHWRPHHWWLHUWKUHVKROGVIRU7LHUWR
$FXWHDQG2/0IDFLOLWLHVPD\DJJUHJDWHWRPHHWWLHUWKUHVKROGVIRU7LHUVWR+LELFOHQVSURGXFWSXUFKDVHVDUHDYDLODEOHIRU
DJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVE\PXWXDO
DJUHHPHQWRI3UHPLHUDQG0|OQO\FNH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6NLQ,QWHJULW\6NLQ&OHDQVHU%DUULHUDQG/RWLRQ3URGXFWV (IIHFWLYH$SULO
([SLUHV0DUFK
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPZLWKDOOVXSSOLHUVZLWKWKHH[FHSWLRQRI0|OQO\FNH
x
0|OQO\FNHSULFLQJLVILUPIRUPRQWKVWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWRQDOLQHLWHPEDVLVDQQXDOO\
0RIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RORSODVWRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RQYD7HFRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&UDZIRUGRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0HGOLQHRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0|OQO\FNHRIIHUVIODWSULFLQJRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
6PLWK 1HSKHZRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
6PLWK 1HSKHZLVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ0&RORSODVW&RQYD7HF&UDZIRUG0HGOLQH0|OQO\FNHDQG6PLWK 1HSKHZ
$YDLODEOHGLUHFW&RORSODVW&UDZIRUG0HGOLQH0|OQO\FNHDQG6PLWK 1HSKHZ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRUPHPEHU
VSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLV
GRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDOHTXLYDOHQWV%RWK
QRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
x
x
x
x
x
x
%DQGDJHV'UHVVLQJVDQG*DX]H$GKHVLYHEDQGDJHVDEGRPLQDO $%' SDGVFRWWRQEDOOVSUHSVSRQJHVHODVWLF
EDQGDJHVJDX]HSDGVUROOVVSRQJHVDQGFRYHUVQRQDGKHUHQWGUHVVLQJVDQGDOFRKROSUHSSDGV
/RZ)UHTXHQF\8OWUDVRQLF:RXQG7KHUDS\1RQFRQWDFWORZIUHTXHQF\XOWUDVRXQGWKHUDS\WKDWLVLQGLFDWHGWRSURPRWH
ZRXQGKHDOLQJXVLQJVRXQGZDYHVWRPHFKDQLFDOO\VWLPXODWHFHOOV
1HJDWLYH3UHVVXUH:RXQG7KHUDS\7UHDWPHQWV\VWHPVGHVLJQHGWRIDFLOLWDWHKHDOLQJRIZRXQGVZLWKQHJDWLYHSUHVVXUHWR
WKHZRXQGVLWHLQFOXGLQJYDFXXPSXPSVFROOHFWLRQFDQLVWHUVDQGGUHVVLQJV
3DWLHQW&OHDQVLQJDQG6NLQ&DUH %DJ%DVHG 6LQJOHDSSOLFDWLRQSURGXFWVXVHGLQWKHFDUHRISDWLHQWVIRUK\JLHQHDQG
PDLQWHQDQFHRIVNLQLQWHJULW\WKDWDUHSDFNDJHGLQDGLVSRVDEOHEDJHJ³EDWKLQDEDJ´
5HJHQHUDWLYH6NLQ*UDIWLQJ3URGXFWV7HFKQRORJLHVWKDWHQKDQFHWKHELRORJLFDOSULQFLSOHVRIWLVVXHUHVSRQVHWRLQMXU\
IRFXVLQJRQWLVVXHUHJHQHUDWLRQDQGVNLQUHSODFHPHQW
6NLQ%UHDNGRZQ3UHYHQWLRQ3URGXFWV+HHOSURWHFWRUVSURWHFWLYHERRWVHOERZSURWHFWRUVEHGSRVLWLRQHUVWXUQDQG
SRVLWLRQV\VWHPVZKHHOFKDLUFXVKLRQVDQGIRRWGURSSUHYHQWLRQDLGV
6NLQ,QWHJULW\&RPSUHVVLRQ:UDSV0XOWLOD\HUFRPSUHVVLRQWRWDOFRQWDFWFDVWLQJDQGXQQDERRWV
6NLQ,QWHJULW\ 3ULPDU\6HFRQGDU\:RXQG&DUH'UHVVLQJVDQG:RXQG'HEULGHPHQW3ULPDU\GUHVVLQJVWKDWFRPHLQ
GLUHFWFRQWDFWZLWKZRXQGEHGVHFRQGDU\GUHVVLQJZKLFKDUHXVHGWRFRYHUDSULPDU\GUHVVLQJZKHQWKHGUHVVLQJGRHVQRW
SURWHFWWKHZRXQGIURPFRQWDPLQDWLRQRFFOXVLYHDQGVHPLRFFOXVLYHGUHVVLQJV
6XUJLFDO,UULJDWLRQ6ROXWLRQV6WHULOHVXUJLFDOVROXWLRQVXVHGWRLUULJDWHDQGFOHDQVHWKHVXUJLFDOVLWHGXULQJSURFHGXUHV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6RDSV/RWLRQVDQG:DWHUOHVV+DQG5LQVHV
(IIHFWLYH2FWREHU
([SLUHV6HSWHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVFOHDQVLQJSURGXFWVVXFKDVDOFRKROUXEVKDQG
ULQVHVIRDPVVSUD\VDQGORWLRQV7KLVSURGXFWFDWHJRU\DOVRFRQWDLQV
VRPHORWLRQVWKDWDUHLQWHQGHGIRUPRLVWXUL]LQJSXUSRVHVRQO\
&ODVVRIWUDGH
'HE0HG(FRODEDQG*2-2DUHDYDLODEOHWRVSHFLILHGDFXWHFDUHDQG
QRQDFXWHKHDOWKFDUHIDFLOLWLHV
8SGDWH)HEUXDU\3UHPLHUKDVDQQRXQFHGDQHZ1RQ
KHDOWKFDUH6RDSV/RWLRQVDQG:DWHUOHVV5LQVHVFDWHJRU\HIIHFWLYH
)HEUXDU\1RQKHDOWKFDUHPHPEHUVFXUUHQWO\SXUFKDVLQJ
WKURXJK*2-2¶V7LHURQ3316VKRXOGWUDQVLWLRQWR*2-2¶V
QRQKHDOWKFDUHDJUHHPHQW33)$
'HE0HG
(FRODE
*2-2
7RP
:LURVWHN
-RVHSK
6DXQGHUV
&KULV:RRG
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3316 3316 3316
$616
3316
$616
3316
3316
67(5,6DVVLJQHGWKHLUFRQWUDFWWR'HE0HG
HIIHFWLYH$XJXVW
$6&(1'7KLVFDWHJRU\KDVEHHQ
GHVLJQDWHGDV%DVH9LVLWWKH$6&(1'SRUWDO
IRU$6&(1'ODXQFKPDWHULDOV
WRPZLURVWHN#GHEPHGFRP
MRHVDXQGHUV#HFRODEFRP
ZRRGF#JRMRFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-XO\)RUXSWRGDWH
FRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKDOOVXSSOLHUV $JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
ZLWKDOOVXSSOLHUV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKDOOVXSSOLHUV
'HE0HG(FRODEDQG*2-2RIIHUGLVSHQVHULQFHQWLYHV6HHYDOXHDGGVVHFWLRQLQWKHYDOXHDQDO\VLVWRRONLWIRU
GHWDLOV
'HE0HG(FRODEDQG*2-2RIIHUJURZWKDQGFRQYHUVLRQLQFHQWLYHV6HHYDOXHDGGVVHFWLRQLQWKHYDOXH
DQDO\VLVWRRONLWIRUGHWDLOV
'HE0HGRIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
(FRODERIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
*2-2RIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
*2-2RIIHUVJUDQGIDWKHUHGSULFLQJ
*2-2RIIHUVDSHUFHQWHDUO\SD\PHQWGLVFRXQW
(FRODELVWKHORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ'HE0HG(FRODEDQG*2-2
$YDLODEOHGLUHFW'HE0HGDQG(FRODE
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6RDSV/RWLRQVDQG:DWHUOHVV+DQG5LQVHV
(IIHFWLYH2FWREHU
([SLUHV6HSWHPEHU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
&OLQLFDOSULPHU$3')EDVLFFOLQLFDOLQIRUPDWLRQGRFXPHQWWRHGXFDWHWKRVHQHZWRWKHFDWHJRU\SURGXFWVDQG
WKHLUIXQFWLRQV
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
x
x
x
+DQG+\JLHQH0RQLWRULQJ6\VWHPV6\VWHPVWKDWDXWRPDWLFDOO\DQGFRQWLQXRXVO\PRQLWRUVVWDII
PHPEHUV FRPSOLDQFHZLWKGHILQHGK\JLHQHDQGLQIHFWLRQSURWRFROV
+RXVHNHHSLQJ3URGXFWV3URGXFWVZKLFKDUHXVHGZLWKLQDOOLQWHUQDOIDFLOLW\DUHDVWRGLVLQIHFWDQGFOHDQ
JHQHUDOVXUIDFHDUHDVDQGIORRULQJ
3DSHUDQG-DQLWRULDO6XSSO\'LVWULEXWLRQ'LVWULEXWRUVRIMDQVDQSURGXFWVLQFOXGLQJVRDSVDQGORWLRQV
3HUVRQDO&DUH.LWVDQG&RPSRQHQWV,QGLYLGXDOSURGXFWVJURXSVRISURGXFWVSDFNDJHGLQDVWDQGDUGRU
FXVWRPL]HGNLWDVSDUWRIWKHSDWLHQWDGPLVVLRQSURFHVV
6NLQ,QWHJULW\ 6NLQ&OHDQVHU%DUULHUDQG/RWLRQ3URGXFWV6NLQ&OHDQVHUVPRLVWXUL]HUVSURWHFWDQWVEDUULHU
ZLSHVORWLRQVDQGVSUD\VDQWLIXQJDOVSHULQHDOZDVKHVDQGERG\ZDVK
6XUJLFDO+DQG3UHSV6ROXWLRQVGHYLFHVDQGDFFHVVRULHVWKDWDUHXVHGE\VXUJLFDOVWDIIWRGLVLQIHFWWKHLU
KDQGVSULRUWRVWDUWLQJVXUJLFDOSURFHGXUHV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6WDQGDUG+\SRGHUPLF3URGXFWV (IIHFWLYH2FWREHU
([SLUHV6HSWHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVV\ULQJHVQHHGOHVWXEHUFXORVLV 7% V\ULQJHV
LQVXOLQV\ULQJHVIOXVKV\ULQJHVKHSDULQIOXVKVDOLQHIOXVKRUDO
V\ULQJHVDQGHQWHUDOV\ULQJHV
6XSSOLHU
x
x
57,DQG0HGHILODUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUH
DQG3UHPLHU5($&+PHPEHUV
%'LVDYDLODEOHWRKHDOWKFDUHSURYLGHUVRQO\
&RYLGLHQLVDYDLODEOHWRVSHFLILFDFXWHFDUHQRQDFXWH
KHDOWKFDUHVFKRROVFROOHJHVDQGXQLYHUVLWLHV6HHYDOXH
DQDO\VLVWRRONLWIRUPRUHGHWDLOV
%'
=DFN0RRUH
&RYLGLHQ
*UHJ*RRGDOO
0HGHILO
5DQG\
%ODFNZHOO
]DFKDU\PRRUH#FDUHIXVLRQ
FRP
JUHJMJRRGDOO#PHGWURQLFFR
P
UDQG\EODFNZHOO#PHGHILOLQF
FRP
UWLNLQJ#YDQLVKSRLQWFRP
[
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-XO\)RUXSWRGDWH
FRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
57,
3DWWL.LQJ
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
x
([SLULQJ
3316
$616
3316
3316
3316
3316
3316
&ODVVRIWUDGH
x
1HZ
3316
$616
3316
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHUDQGKLJKHUZLWK%'
DQG&RYLGLHQ
0HGHILOGRHVQRWUHTXLUHD30')3$
57,RIIHUVDVLQJOHWLHUZKHUH30')3$LVQRWUHTXLUHG
57,LVDVPDOOEXVLQHVVHQWHUSULVH 6%( 0HGHILOLVDPLQRULW\RZQHGEXVLQHVV 0%( )LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 9DOXHDGGV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 6KDUSVLQMXU\SUHYHQWLRQ
x 1HHGOHVWLFNVDIHW\
x 2UDOHQWHUDOWXELQJFRQQHFWLRQV
x 3URGXFWODEHOLQJ
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x ,9SXPSWXELQJFRPSDWLELOLW\
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQGHVWDEOLVKHGQHWZRUNVZLWK%'DQG0HGHILO
&RYLGLHQDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVZLWKWKHDELOLW\WRLQIOXHQFH
GHFLVLRQV
57,KDVDVLQJOHWLHUZKHUHDJJUHJDWLRQLVQRWDSSOLFDEOH
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPZLWK%'57,DQG0HGHILO
x 3ULFLQJLVILUPIRUPRQWKVZLWK&RYLGLHQWKHUHDIWHUSULFLQJPD\LQFUHDVHXSWRSHUFHQWRQDOLQHLWHP
EDVLVIRUHDFKSHUFHQWLQFUHDVHLQDJJUHJDWHFRVW
&RYLGLHQDQG0HGHILORIIHUYDOXHDGGUHEDWHV
%'RIIHUVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RYLGLHQRIIHUVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
57,RIIHUVIODWSULFLQJRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0HGHILORIIHUVDSHUFHQWLQFUHDVHRYHUDOOIRUQRQDFXWHPHPEHUVDQGDSHUFHQWLQFUHDVHRYHUDOOIRUDFXWH
PHPEHUVFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
%'LVWKHORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ%'&RYLGLHQ0HGHILODQG57,
$YDLODEOHGLUHFW&RYLGLHQDQG57,
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6WDQGDUG+\SRGHUPLF3URGXFWV (IIHFWLYH2FWREHU
([SLUHV6HSWHPEHU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUFXVWRPL]DWLRQIRUPHPEHU
VSHFLILFQHHGV7KHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7RPDLQWDLQOLQNLQWHJULW\
SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVDOVRLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
x
x
,97KHUDS\SRUWIROLR,QIXVLRQGHYLFHVDQGGHYLFHGHGLFDWHGVHWVLQIXVLRQVHWVDQGDFFHVVRULHV,9
IOXLGVEDJEDVHGGUXJGHOLYHU\DQG731PDFURQXWULHQWVQHHGOHOHVVFRQQHFWRUVSKDUPDF\FDSLWDO
HTXLSPHQWDQGDGPL[WXUHVXSSOLHV
1HRQDWDO6SHFLDOW\3URGXFWV(QWHUDODQGRUDOSURGXFWV LQFOXGLQJORZGRVH(1)LWV\ULQJHV XPELOLFDO
FDWKHWHUV3,&&6SKRWRWKHUDS\H\HVKLHOGVDQGRWKHUVSHFLDOW\SURGXFWV
6DIHW\+\SRGHUPLF3URGXFWV6\ULQJHVDQGQHHGOHVXVHGWRGUDZXSOLTXLGVDQGWRGHOLYHUPHGLFDWLRQV
WRSDWLHQWVE\LQWUDGHUPDOVXEFXWDQHRXVLQWUDPXVFXODURULQWUDYHQRXVLQMHFWLRQ6DIHW\K\SRGHUPLF
SURGXFWVDUHHQJLQHHUHGWRSUHYHQWDFFLGHQWDOVKDUSVLQMXU\GXULQJRUDIWHUXVHDQGLQFOXGHDQDFWLYHRU
SDVVLYHVDIHW\PHFKDQLVP
6DIHW\,9&DWKHWHUV,9VWDUWFDWKHWHUVHTXLSSHGZLWKDVDIHW\GHYLFHWRSUHYHQWDFFLGHQWDOQHHGOHVWLFNV
6KDUSV'LVSRVDO&RQWDLQHUV&DQLVWHUVIRUVKDUSVPHGLFDOZDVWHDQGWKHUHODWHGDFFHVVRULHVVXFKDV
ZDOOPRXQWLQJVDQGEUDFNHWV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6XFWLRQ&DQLVWHUV<DQNDXHUVDQG7XELQJ(IIHFWLYH1RYHPEHU
([SLUHV2FWREHU
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVVXFWLRQFDQLVWHUV<DQNDXHUVDQGWXELQJXVHG
WRFROOHFWPHGLFDOZDVWH3URGXFWVLQFOXGHGDUHULJLGDQGVHPLULJLG
FDQLVWHUVIOH[LEOHOLQHUV\VWHPVWXELQJZDVWHGLVSRVDOVROLGLILHUV
KDUGZDUHDQGDFFHVVRULHV$OVRLQFOXGHGDUHGLVSRVDEOH<DQNDXHUV
)UD]LHU3RROHDQGVLJPRLGDOVXFWLRQFDQQXODV 6XSSOLHU
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
&DUGLQDO
+HDOWK
1RUWKILHOG
506
'DQ&ODUN
&DUWHU
6PLWK
6WHYHQ
6FKODFKWD
GDQLHOFODUN#FDUGLQDOKHDOWKFRP
FDUWHU#QRUWKILHOGPDQXIDFWXULQJ
FRP
VVFKODFKWD#UPVPHGLFDOSURGXFW
VFRP
1HZ
([SLULQJ
3316
3316
$616
3316
1HZ
3316
1HZ
7KHFXUUHQWDJUHHPHQWVZLWK&RYLGLHQ 3316
DQG'H5R\DO 3316 H[SLUH2FWREHU
1RUWKILHOGLVDPLQRULW\RZQHGEXVLQHVV 0%( DQG506LVDVPDOOEXVLQHVV 6%( 1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0DUFK)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHUZLWK
&DUGLQDO
1RUWKILHOGDQG506RIIHUDVLQJOHWLHUZKHUHSULFHDFWLYDWLRQLV
QRWUHTXLUHG
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQG
HVWDEOLVKHGQHWZRUNVZLWK&DUGLQDO 1RUWKILHOGDQG506RIIHUDVLQJOHWLHUZKHUHDJJUHJDWLRQLVQRW
DSSOLFDEOH
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 0RXQWLQJDQGEUDFNHWFRQYHUVLRQ
FRVWV
x 9DOXHDGGV
6DIHW\DQGVDWLVIDFWLRQ
x +HDOWKFDUHDFTXLUHGLQIHFWLRQ
UHGXFWLRQ
x 6ROLGLILHUVSUHYHQWKD]DUGRXV
ZDVWHH[SRVXUHWRHPSOR\HHV
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x +DUGZDUHDQGDFFHVVRULHVDUH
SURSULHWDU\WRFDQLVWHUV
x 'LVWULEXWLRQDJUHHPHQWV
3ULFLQJLVILUPIRUWKHWHUPZLWKDOOVXSSOLHUV
&DUGLQDORIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKH
H[SLULQJDJUHHPHQW
1RUWKILHOGLVWKHORZFRVWVXSSOLHUIRUVROLGLILHUV
&DUGLQDORIIHUVDQDGGLWLRQDOWZRSHUFHQWSULFHUHGXFWLRQLIDVDOHVWKUHVKROGLVPHWE\WKHHQGRIWKHILUVW
\HDURIWKHDJUHHPHQW
$YDLODEOHWKURXJKGLVWULEXWLRQ&DUGLQDO1RUWKILHOGDQG506
$YDLODEOHGLUHFW1RUWKILHOGDQG506
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6XFWLRQ&DQLVWHUV<DQNDXHUVDQG7XELQJ(IIHFWLYH1RYHPEHU
([SLUHV2FWREHU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EH
EURNHQ7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
x
x
x
x
&ORVHG9HQWLODWLRQ6XFWLRQ3URGXFWVXVHGLQQHRQDWHSHGLDWULFDQGDGXOWSDWLHQWVWKDWSURYLGHDVXFWLRQ
FDSDELOLW\ZLWKDFRPSOHWHO\FORVHGDLUZD\FLUFXLW
(QGRWUDFKHDO7XEHVDQG5HODWHG3URGXFWV7XEHVWKDWDUHLQVHUWHGWKURXJKWKHQRVHRUPRXWKDQGLQWRWKH
WUDFKHDWRPDLQWDLQDQXQREVWUXFWHGSDVVDJHZD\LQWRWKHOXQJV
0HGLFDO*DV3LSHOLQH(TXLSPHQW6HUYLFHVDQG$FFHVVRULHV(TXLSPHQWWKDWGHOLYHUVJDVWKURXJKRXWD
IDFLOLW\
2UDO&DUH6SRQJHVZDEVRUDOFDUHVROXWLRQVRUDOVXFWLRQWLSVDQGVXFWLRQWRRWKEUXVKHV
5HVSLUDWRU\7KHUDS\3URGXFWV3HDNIORZPHWHUVLQFHQWLYHVSLURPHWHUVPHDVXUHGGRVHLQKDOHU 0', KROGLQJFKDPEHUV VSDFHUV QHEXOL]HUVDQGGLVSRVDEOHVXSSOLHVVXFWLRQFDWKHWHUVPXFRXVWUDSVQRQYHQWHG
PDVNV&3$3DQG%L/HYHOPDVNVR[\JHQGHOLYHU\GLVSRVDEOHVGLVSRVDEOHYHQWLODWRUVXSSOLHVDQG
KXPLGLILFDWLRQSURGXFWVDQGUHVXVFLWDWLRQEDJV
6XUJLFDO,QVWUXPHQWV,QVWUXPHQWVXVHGE\VXUJHRQVDQGQXUVHVWRIDFLOLWDWHDVXUJLFDOSURFHGXUH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6XWXUH5HPRYDODQG/DFHUDWLRQ7UD\V(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVVWDQGDUGVXWXUHUHPRYDONLWVODFHUDWLRQWUD\V
VWDSOHUHPRYDONLWVDQGPLQRUSURFHGXUHWUD\VVXFKDVLQFLVLRQDQG
GUDLQDJHDQGQRVHEOHHGWUD\V&XVWRPWUD\VDUHQRWLQFOXGHG
7KLVFDWHJRU\LVDVSOLWIURPWKHSUHYLRXV%HGVLGH3URFHGXUH7UD\VDQG
1HHGOHVFDWHJRU\
6XSSOLHU
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
&DUGLQDO
'DQ&ODUN
/6/
'RWWLH/HZD\
GDQLHOFODUN#FDUGLQDOKHDOWK
FRP
GRWWLHOHZD\#OVOKHDOWKFDUH
FRP
0HGOLQH
0DUN3DUU\
PSDUU\#PHGOLQHFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI1RYHPEHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RU
HOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHURUKLJKHU
ZLWK&DUGLQDODQG0HGOLQH
/6/GRHVQRWUHTXLUHD30')3$GXHWRVLQJOHWLHURIIHULQJ
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQG
HVWDEOLVKHGQHWZRUNVZLWK&DUGLQDODQG0HGOLQH
/6/RIIHUVDVLQJOHWLHUZKHUHDJJUHJDWLRQLVQRWDSSOLFDEOH
1HZ
([SLULQJ
3316
1HZ
3316
1HZ
3316
$616
3316
$616
0HGOLQH¶VH[SLULQJDJUHHPHQW 3316 ZDV
XQGHUWKH%HGVLGH3URFHGXUH7UD\VFDWHJRU\
1RWH/6/LVDPLQRULW\RZQHGEXVLQHVV 0%( )LQDQFLDOFRQVLGHUDWLRQV
x *UDQGIDWKHULQJ
x 0LQLPXPRUGHUUHTXLUHPHQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 6DIHW\SURGXFWVDYDLODELOLW\
x 3DWLHQWFRPIRUWGXULQJSURFHGXUHV
x (DVHRIFOLQLFLDQXVH
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x &OLQLFLDQSUHIHUHQFH
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPZLWKDOOVXSSOLHUV
0HGOLQHRIIHUVDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
/6/LVWKHRYHUDOOORZFRVWVXSSOLHURQFURVVHGVSHQG
$YDLODEOHWKURXJKGLVWULEXWLRQ&DUGLQDO/6/DQG0HGOLQH
$YDLODEOHGLUHFW/6/DQG0HGOLQH
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EH
EURNHQ7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
x 3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
x 3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6XWXUH5HPRYDODQG/DFHUDWLRQ7UD\V(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
5HODWHGFDWHJRULHV
x
x
x
x
x
x
%HGVLGH3URFHGXUH7UD\VDQG1HHGOHV/XPEDUSXQFWXUHWUD\VWKRUDFHQWHVLVSDUDFHQWHVLVSQHXPRWKRUD[
VRIWWLVVXHELRSV\P\HORJUDPDQGDUWKURJUDPWUD\V3URFHGXUHQHHGOHVDUHDOVRLQFOXGHG
&XVWRP3URFHGXUH7UD\V*RZQVDQG5HODWHG3URGXFWV6SHFLILFDOO\GHVLJQHGSDFNVWKDWFRPELQHWKH
GLVSRVDEOHLWHPVQHHGHGIRUVSHFLILFVXUJLFDOSURFHGXUHVDVZHOODVVWDQGDUGL]HGGUDSHVDQGJRZQVXVHG
GXULQJVXUJLFDOSURFHGXUHV
'LDJQRVWLFDQG,QWHUYHQWLRQDO5DGLRORJ\&RUHGLVSRVDEOHUDGLRORJ\SURGXFWVVXFKDVVRIWWLVVXHELRSV\
QHHGOHVXVHGSULPDULO\IRUWKHWUHDWPHQWRISHULSKHUDOYDVFXODUGLVHDVHLQFOXGLQJSHULSKHUDODQJLRJUDSK\
SHULSKHUDODQJLRSODVW\VWHQWSODFHPHQWDQGRWKHULQWHUYHQWLRQDOUDGLRORJ\SURFHGXUHV
5HJLRQDO$QHVWKHVLD7UD\V6XSSOLHVQHHGHGIRUWKHDSSOLFDWLRQRIUHJLRQDODQHVWKHVLDWKURXJKHSLGXUDOVDQG
VSLQDOLQMHFWLRQVDQGWKHLQGXFWLRQRISDLQPDQDJHPHQW
6DIHW\+\SRGHUPLF3URGXFWV6DIHW\SURGXFWVWKDWDUHHQJLQHHUHGWRSUHYHQWDFFLGHQWDOVKDUSVLQMXU\GXULQJ
RUDIWHUXVHDQGLQFOXGHDQDFWLYHRUSDVVLYHVDIHW\PHFKDQLVP
6WDQGDUG+\SRGHUPLF3URGXFWV1RQVDIHW\SURGXFWVXVHGWRGUDZXSDQGDGPLQLVWHUPHGLFDWLRQVYLDRUDO
LQWUDGHUPDOVXEFXWDQHRXVLQWUDPXVFXODURULQWUDYHQRXVLQMHFWLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
7DSH3URGXFWV
(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHU
7KLVFDWHJRU\LQFOXGHVWDSHZKLFKDUHQDUURZVWULSVRIVWURQJZRYHQ
IDEULFRUPDWHULDOVXWLOL]HGWRELQGRUKROGVRPHWKLQJLQSODFH
6XSSOLHU
&ODVVRIWUDGH
3
0LVDYDLODEOHWRDFXWHFDUHDQGQRQDFXWHKHDOWKFDUHIDFLOLWLHV6HH
YDOXHDQDO\VLVWRRONLWIRUVSHFLILFFODVVRIWUDGHDYDLODELOLW\ 0
5RGJHU5DWOLII
UGUDWOLII#PPPFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI1RYHPEHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHU
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQGHVWDEOLVKHG
QHWZRUNV0UHTXLUHVPHPEHU¶VRZQHGRUFRQWUROOHGIDFLOLWLHVWR
LQGHSHQGHQWO\FRPPLWWRWKHSDUWLFLSDWLRQUHTXLUHGE\WKHWLHU
1HZ
([SLULQJ
3316
$616
3316
$616
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 6LQJOHXVHUROOVYVVWDQGDUGUROOV
x *UDQGIDWKHULQJ
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3DWLHQWFRPIRUW
x /DWH[DOOHUJLHV
x &URVVFRQWDPLQDWLRQFRQFHUQV
x 7DSHW\SHVIRUGLIIHUHQW
DSSOLFDWLRQVRUSDWLHQWSRSXODWLRQV
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQW
0RIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0SURGXFWVDUHDYDLODEOHWKURXJKGLVWULEXWLRQ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
x
x
x
$GKHVLYH6NLQ&ORVXUHV$GKHVLYHSURGXFWVXVHGWRH[WHUQDOO\KROGVNLQWRJHWKHURYHULQFLVLRQVRUZRXQGV
%DQGDJHV'UHVVLQJVDQG*DX]H3URGXFWVXVHGLQWKHWUHDWPHQWRISDWLHQWVZLWKLQMXULHVVXUJLFDOLQFLVLRQV
XOFHUVRUZRXQGVWKDWQHHGVLPSOHGUHVVLQJVRUFRYHULQJVWKDWSHUPLWWKHFRQWDLQPHQWRIGUDLQDJH
&DWKHWHU7XEH6HFXUHPHQWDQG6WDELOL]DWLRQ6XWXUHOHVVVHFXUHPHQWDQGVWDELOL]DWLRQSURGXFWVWKDWHQDEOH
KHDOWKFDUHZRUNHUVWRGHOLYHUIOXLGVPHGLFDWLRQVRUWRGUDLQERGLO\IOXLGV LQFOXGLQJVHFXUHPHQWGUHVVLQJV &RKHVLYH%DQGDJHV6HOIDGKHUHQWHODVWLFZUDSWKDWIXQFWLRQVOLNHWDSHEXWVWLFNVWRLWVHOIDQGQRWWRWKHVNLQ
7UDQVSDUHQW'UHVVLQJV'UHVVLQJVXVHGLQZRXQGPDQDJHPHQWZKLFKDOORZIRUYLVXDOLQVSHFWLRQRIWKHVLWH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
7UDQVSDUHQW'UHVVLQJV(IIHFWLYH)HEUXDU\
([SLUHV-DQXDU\
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHU
7KLVFDWHJRU\LQFOXGHVGUHVVLQJVXVHGLQZRXQGPDQDJHPHQW$
GUHVVLQJFDQFRQVLVWRIDZLGHUDQJHRIPDWHULDOVVRPHWLPHV
FRQWDLQLQJPHGLFDWLRQSODFHGGLUHFWO\DJDLQVWWKHZRXQGDQGLV
WUDQVSDUHQWDOORZLQJIRUYLVXDOLQVSHFWLRQRIWKHVLWHEHLQJPRQLWRUHG
&ODVVRIWUDGH
0LVDYDLODEOHWRDFXWHFDUHDQGQRQDFXWHKHDOWKFDUHIDFLOLWLHV6HH
YDOXHDQDO\VLVWRRONLWIRUVSHFLILFFODVVRIWUDGHDYDLODELOLW\ 0
5RGJHU5DWOLII
UGUDWOLII#PPPFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI1RYHPEHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHU
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQGHVWDEOLVKHG
QHWZRUNV0UHTXLUHVPHPEHU¶VRZQHGRUFRQWUROOHGIDFLOLWLHVWR
LQGHSHQGHQWO\FRPPLWWRWKHSDUWLFLSDWLRQUHTXLUHGE\WKHWLHU 2WKHUNH\YDOXHDQGWHUPV
x
x
x
6XSSOLHU
3
1HZ
([SLULQJ
3316
$616
3316
$616
7KHFXUUHQWDJUHHPHQWZLWK$0'5LWPHG 3316
H[SLUHV-DQXDU\
)LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 'UHVVLQJVLQVWDQGDUGDQGFXVWRP
NLWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3DWLHQWFRPIRUW
x /HJLELOLW\RIODEHO
x 0RLVWXUHSHUPHDELOLW\
x 3DWLHQWVNLQTXDOLW\LHWKLFNQHVV
RUIUDJLOLW\
x /DWH[DOOHUJLHV
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQW
0RIIHUVSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
0SURGXFWVDUHDYDLODEOHWKURXJKGLVWULEXWLRQ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
x
x
x
x
$GKHVLYH6NLQ&ORVXUHV$GKHVLYHSURGXFWVXVHGWRH[WHUQDOO\KROGVNLQWRJHWKHURYHULQFLVLRQVRUZRXQGV
%DQGDJHV'UHVVLQJVDQG*DX]H3URGXFWVXVHGLQWKHWUHDWPHQWRISDWLHQWVZLWKLQMXULHVVXUJLFDOLQFLVLRQV
XOFHUVRUZRXQGVWKDWQHHGVLPSOHGUHVVLQJVRUFRYHULQJVWKDWSHUPLWWKHFRQWDLQPHQWRIGUDLQDJH
&DWKHWHU7XEH6HFXUHPHQWDQG6WDELOL]DWLRQ6XWXUHOHVVVHFXUHPHQWDQGVWDELOL]DWLRQSURGXFWVWKDWHQDEOH
KHDOWKFDUHZRUNHUVWRGHOLYHUIOXLGVPHGLFDWLRQVRUWRGUDLQERGLO\IOXLGV LQFOXGLQJVHFXUHPHQWGUHVVLQJV &RKHVLYH%DQGDJHV6HOIDGKHUHQWHODVWLFZUDSWKDWIXQFWLRQVOLNHWDSHEXWVWLFNVWRLWVHOIDQGQRWWRWKHVNLQ
7DSH3URGXFWV6WULSVRIVWURQJZRYHQIDEULFRURWKHUPDWHULDOVXVHGWRELQGRUKROGEDQGDJHVLQSODFH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
9DVFXODU&RPSUHVVLRQ7KHUDS\
(IIHFWLYH'HFHPEHU ([SLUHV-XO\
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
3URGXFWVLQFOXGHGLQWKLVFDWHJRU\DUHFDSLWDOSXPSVDQGWKH
DVVRFLDWHGIRRWFDOIDQGWKLJKVOHHYHV
6XSSOLHU
1HZ
3316 3316
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHDQGFRQWLQXXPRIFDUH
3UHPLHU5($&+PHPEHUV
$UMR
&RPSUHVVLRQ
6ROXWLRQV
&7&
&RYLGLHQ
6WHYHQ
1HJUL
7HUHVD
6ODJOH
%U\VH
-R\
*UHJ
*RRGDOO
VWHYHQQHJUL#DUMRFRP
WHUHVD#FRPSUHVVLRQVROXWLRQV
XV
EU\VHMR\#]LPPHUELRPHWFRP
JUHJMJRRGDOO#PHGWURQLFFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHUZLWK$UMR
&7&DQG&RYLGLHQ
&RPSUHVVLRQ6ROXWLRQVRIIHUVDVLQJOHWLHUZKHUH30')3$LV
QRWUHTXLUHG
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQG
HVWDEOLVKHGQHWZRUNVZLWK$UMRDQG&7&
&RYLGLHQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHG
QHWZRUNVZLWKWKHDELOLW\WRLQIOXHQFHSXUFKDVLQJGHFLVLRQV
&RPSUHVVLRQ6ROXWLRQVRIIHUVDVLQJOHWLHUZKHUHDJJUHJDWLRQLV
QRWDSSOLFDEOH
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
([SLULQJ
3316
1HZ
3316
3316
$616
3316 3316
&RPSUHVVLRQ6ROXWLRQVLVDPLQRULW\RZQHG
EXVLQHVV 0%( DQG&7&LVDZRPDQRZQHG
EXVLQHVV :%( )LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x $FTXLVLWLRQRSWLRQV±FDSLWDO
SXUFKDVHUHQWDORUHTXLSPHQW
XVDJHZLWKVOHHYHUDWLR
x 9DOXHDGGV
x ,QYHQWRU\ORVWSXPSGHSUHFLDWLRQ
DQGUHSURFHVVLQJFRQVLGHUDWLRQV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3DWLHQWFRPIRUW
x 3DWLHQWFRPSOLDQFHZLWKWKH
WKHUDS\
x +RPHWKHUDS\RSWLRQV
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
LQFOXGLQJPXOWL\HDUDJUHHPHQWV
x &OLQLFDOSUHIHUHQFHIRUVHTXHQWLDO
YVLQWHUPLWWHQWSUHVVXUH
x $SSOLFDWLRQGLIIHUVEHWZHHQSODVWLF
DQGVRIWVOHHYHV
3ULFLQJLVILUPIRUWKHWHUPZLWKDOOVXSSOLHUV
$UMRRIIHUVEHWZHHQDSHUFHQWLQFUHDVHWRDSHUFHQW
VDYLQJVRQVOHHYHVFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&7&RIIHUVEHWZHHQDSHUFHQWLQFUHDVHWRDSHUFHQW
VDYLQJVRQVOHHYHVFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RYLGLHQRIIHUVIODWSULFLQJWRSHUFHQWVDYLQJVFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
&RPSUHVVLRQ6ROXWLRQVLVWKHORZFRVWVXSSOLHURQFURVVHGVSHQG
$OOVXSSOLHUVRIIHUYDOXHDGGVSXPSGHSUHFLDWLRQORVWSXPSIRUJLYHQHVVDQGSXPSZDUUDQWLHV
$YDLODEOHWKURXJKGLVWULEXWLRQ$UMR&7&DQG&RYLGLHQ
$YDLODEOHGLUHFW$UMR&RPSUHVVLRQ6ROXWLRQV&7&DQG&RYLGLHQ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
9DVFXODU&RPSUHVVLRQ7KHUDS\
(IIHFWLYH'HFHPEHU ([SLUHV-XO\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$ZRUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKHZRUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7R
PDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRU\
x
9&7$QWL(PEROLVP6WRFNLQJV.QHHOHQJWKWKLJKOHQJWKDQGZDLVWOHQJWKVWRFNLQJVGHVLJQHGWR
UHGXFHYHQRXVVWDVLVLQWKHOHJ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
9&7$QWL(PEROLVP6WRFNLQJV(IIHFWLYH'HFHPEHU
([SLUHV1RYHPEHU
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
3URGXFWVLQWKLVFDWHJRU\LQFOXGHNQHHOHQJWKWKLJKOHQJWKDQGZDLVW
OHQJWKDQWLHPEROLVPVWRFNLQJV
1HZ
([SLULQJ
&ODVVRIWUDGH
3316
1HZ
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
3316
3316
$616
%61
-R\:ULJKW
MR\ZULJKW#EVQPHGLFDOFR
P
&DURORQ
0DUFXV6HLW]
[
PVHLW]#FDURORQFRP
WRPVZHDWW#HQFRPSDVVJU
RXSQHW
GRWWLHOHZD\#OVOKHDOWKFDUH
/6/
'RWWLH/HZD\ FRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI2FWREHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
(QFRPSDVV
7RP6ZHDWW
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHU
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQG
HVWDEOLVKHGQHWZRUNV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
6XSSOLHU
3316
1HZ
3316
1HZ
7KHFXUUHQWDJUHHPHQWZLWK&RYLGLHQ 3316 H[SLUHV1RYHPEHU
1RWH&DURORQDQG(QFRPSDVVDUHVPDOOEXVLQHVV
HQWHUSULVHV 6%( DQG/6/LVDPLQRULW\RZQHG
EXVLQHVV 0%( )LQDQFLDOFRQVLGHUDWLRQV
x 5HLPEXUVHPHQW
x 9DOXHDGGVVXFKDVFRQYHUVLRQ
LQFHQWLYHVDQGEXONEX\GLVFRXQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 6LJHOSURILOH
x 3DWLHQWFRPIRUW
x (DVHRIXVH
x &RQWUDLQGLFDWLRQVIRUVSHFLILF
SDWLHQWV
x &RORURSWLRQVHJZKLWHQXGH
EODFN
3ULFLQJLVILUPIRUWKHWHUPZLWKDOOVXSSOLHUV
&DURORQ¶VQHZDJUHHPHQWRIIHUVDSHUFHQWVDYLQJVRYHUDOO
FRPSDUHGWRWKHH[SLULQJDJUHHPHQW
$OOVXSSOLHUVRIIHUPRUHIDYRUDEOHSULFLQJFRPSDUHGWRWKH
H[SLULQJ&RYLGLHQDJUHHPHQW
5RDGEORFNVWRFRQYHUVLRQ
%61LVWKHORZFRVWVXSSOLHURQFURVVHGLWHPV
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
&DURORQ(QFRPSDVVDQG/6/RIIHUYDOXHDGGVLQFOXGLQJ
FRQYHUVLRQLQFHQWLYHVDQGGLVFRXQWHGSULFLQJ
$YDLODEOHWKURXJKGLVWULEXWLRQ%61&DURORQ(QFRPSDVVDQG/6/
$YDLODEOHGLUHFW%61&DURORQ(QFRPSDVVDQG/6/
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
9&7$QWL(PEROLVP6WRFNLQJV(IIHFWLYH'HFHPEHU
([SLUHV1RYHPEHU
$GGLWLRQDOUHVRXUFHV
x
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$ZRUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKHZRUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7R
PDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
&RQYHUVLRQJXLGH$3')GRFXPHQWLQWHQGHGWRVKRZSRVVLEOHSURGXFWFRQYHUVLRQRSSRUWXQLWLHVEDVHGRQWKH
FURVVUHIHUHQFH
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHGVXSSOLHU
SURGXFWLQIRUPDWLRQ
&RVWFDOFXODWRU$Q([FHOILOHGHVLJQHGWRKHOSPHPEHUVDQDO\]HWKHILQDQFLDOLPSDFWRIWKHFRQWUDFWV
5HODWHGFDWHJRU\
x
9DVFXODU&RPSUHVVLRQ7KHUDS\'HYLFHV&DSLWDOSXPSVDQGWKHDVVRFLDWHGIRRWFDOIDQGWKLJKVOHHYHV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
%ORRG*OXFRVH0HWHUV5HDJHQWV
&RQVXPDEOHVDQG6HUYLFH
(IIHFWLYH$SULOWKURXJK0DUFK
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVEORRGJOXFRVHKDQGKHOGPHWHUV\VWHPVWKDWDUH
SULPDULO\XVHGLQDFXWHFDUHIDFLOLWLHVDQGDUHXVHGIRUGHWHUPLQLQJWKH
DSSUR[LPDWHFRQFHQWUDWLRQRIJOXFRVHLQWKHEORRG7KHV\VWHPLQFOXGHVWKH
PHWHUDQGKDUGZDUHVRIWZDUHWKDWLVQHHGHGWRWUDQVPLWLQWHUIDFHWKHSDWLHQW
UHVXOWVZLWKWKHHOHFWURQLFPHGLFDOUHFRUG (05 KHDOWKLQIRUPDWLRQV\VWHP
+,6 RUODERUDWRU\LQIRUPDWLRQV\VWHP /,6 $ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
33/$
33/$
33/$
33/$
$6/$
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK1RYD
x $PHPEHUDJUHHPHQWLVUHTXLUHGIRUWHVWVWULSVRQ7LHUV
WKURXJK0HPEHUKDYHWKHFKRLFHWRSLFNPHPEHU
DJUHHPHQWWHUPVIURPWKUHHWRVHYHQ\HDUVDQGSULFLQJZLOO
YDU\GHSHQGLQJRQWKHWHUPVHOHFWHG
$30')3$LVUHTXLUHGIRU7LHUWKURXJKDQG7LHUVDQGZLWK5RFKH
x $PHPEHUDJUHHPHQWLVUHTXLUHGIRUWHVWVWULSVRQ7LHUVWKURXJK
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
ZLWK1RYD
x 0HPEHUVPXVWVLJQDQ$JJUHJDWLRQ(QKDQFHPHQW)RUPDQGDPHPEHUDJUHHPHQWDWWLPHRIVDOH$OOPHPEHUV
ZLVKLQJWRDJJUHJDWHPXVWDOVRKDYHFRWHUPLQXVPHPEHUDJUHHPHQWV
$JJUHJDWLRQLVDOORZHGIRU7LHUVWKURXJKIRUPXOWLIDFLOLW\V\VWHPVWKDWKDYHWKHDELOLW\WRFRPPLWSXUFKDVLQJ
GHFLVLRQVUHJLRQDOJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWK5RFKH
x 0HPEHUVPXVWEHRQWKHPHPEHUVKLSURVWHUH[HFXWHDWKUHH\HDUPHPEHUDJUHHPHQW LQFOXGLQJDSURYLVLRQWR
DGMXVWSULFLQJWRUHIOHFWFRPPLWWHGYROXPHVDFWXDOO\EHLQJSXUFKDVHG DQGPHHWYROXPHVUHTXLUHGE\WLHUV
&ODVVRIWUDGH
x
x
1RYD¶VDJUHHPHQWLVDYDLODEOHWRDFXWHFDUHDQGQRQDFXWHKHDOWKFDUHIDFLOLWLHV
5RFKH¶VDJUHHPHQWLVDYDLODEOHWRVHOHFWDFXWHDQGQRQDFXWHKHDOWKFDUHIDFLOLWLHV6HH$SSHQGL[$IRUGHWDLOV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKERWKVXSSOLHUV
x 3ULFLQJIRUPHPEHUVZKRHQWHULQWRDPRQWKPHPEHUDJUHHPHQWZLWK5RFKHZLOOEHILUPIRUPRQWKVSULFLQJ
IRUPHPEHUVHQWHULQJPHPEHUDJUHHPHQWVOHVVWKDQPRQWKVZLWK5RFKHZLOOEHILUPIRUPRQWKV
7KHUHDIWHUSULFHVPD\LQFUHDVHRQHWLPHSHU\HDUXSWRSHUFHQWDQGDUHOLPLWHGWRLQFUHDVHVDVVRFLDWHGZLWK
FRQVXPHUSULFHLQGH[IRUXUEDQFRQVXPHUV &3,8 )LQDQFLDODQDO\VLVUHYHDOV
x 1RYD¶VQHZVHYHQ\HDUWHVWVWULSDJUHHPHQWSULFLQJRIIHUVDQRYHUDOOSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJ
ILYH\HDUWHVWVWULSDJUHHPHQWSULFLQJ
x 1RYD¶VQHZILYH\HDUWHVWVWULSDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJILYH\HDUWHVWVWULSDJUHHPHQW
SULFLQJ
x 1RYD¶VQHZODQFHWDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJODQFHWDJUHHPHQWSULFLQJ
x 5RFKH¶VQHZFRQVXPDEOHVDQGVWULSVDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJFRQVXPDEOHVDQGVWULSV
DJUHHPHQWSULFLQJ
x 5RFKH¶VQHZODQFHWVDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJODQFHWVDJUHHPHQWSULFLQJ
x 5RFKHLVWKHRYHUDOOORZFRVWVXSSOLHUEDVHGRQYROXPHVFHQDULRV
1RYDLVRIIHULQJQRFKDUJHPHWHUVSULFHUHGXFWLRQVIRUQRQVHTXHVWHUHGWHVWVWULSVKLSPHQWVDQGDQH[WHQGHGZDUUDQW\
IRUVL[DQGVHYHQ\HDUFRPPLWPHQWVDVYDOXHDGGV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
%ORRG*OXFRVH0HWHUV5HDJHQWV
&RQVXPDEOHVDQG6HUYLFH
(IIHFWLYH$SULOWKURXJK0DUFK
2WKHUNH\YDOXHDQGWHUPV FRQWLQXHG x
x
x
x
5RFKHLVRIIHULQJPHPEHUVZKRDUHQHZFXVWRPHUVDQDOORZDQFHRIXSWRSHUFHQWWREHXVHGRQPHWHUSXUFKDVHVDV
DYDOXHDGG
1RYDKDVDPLQLPXPRUGHUUHTXLUHPHQWFHUWDLQSURGXFWVDUHRQO\DYDLODEOHLQEXONTXDQWLWLHV
$YDLODEOHWKURXJKGLVWULEXWLRQ5RFKH
$YDLODEOHGLUHFW1RYD5RFKH
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
1RYD%LRPHGLFDO&RUSRUDWLRQ-RKQ%ULWWMEULWW#QRYDELRFRP
5RFKH'LDJQRVWLFV&RUSRUDWLRQ:KLWQH\-RKQVRQZKLWQH\MRKQVRQ#URFKHFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-DQXDU\)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
5HODWHGFDWHJRU\
x
*OXFRVH0DQDJHPHQW%ORRGJOXFRVHPHWHUVLQVXOLQSHQQHHGOHVODQFHWVODQFHWGHYLFHVRUDOJOXFRVHWROHUDQFHWHVWLQJ
DQGWHVWVWULSVGHVLJQHGIRUXVHLQERWKKRPHDQGKHDOWKFDUHVHWWLQJV
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
x 3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
%ORRG3UHVVXUH&XIIVDQG$FFHVVRULHV
(IIHFWLYH-XQHWKURXJK0D\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVVSK\JPRPDQRPHWHU EORRGSUHVVXUH GHYLFHVFXIIV
DQGUHSODFHPHQWDFFHVVRULHV
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK*(DQG66
*OREDO
$30')3$LVQRWUHTXLUHGZLWK:HOFK$OO\QGXHWRVLQJOHWLHU
RIIHULQJ
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWK*(DQG
66*OREDO
$JJUHJDWLRQLVQRWDSSOLFDEOHZLWK:HOFK$OO\QGXHWRVLQJOHWLHU
RIIHULQJ
3300
3300
$600
3300
3366
$600
3300
3300
$600
$6&(1'7KLVFDWHJRU\KDVEHHQGHVLJQDWHG
DVULGJH9LVLWWKH$6&(1'SRUWDOIRU$6&(1'
ODXQFKPDWHULDOV
&ODVVRIWUDGH
x
x
$JUHHPHQWVZLWK*(DQG66*OREDODUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
:HOFK$OO\Q¶VDJUHHPHQWLVDYDLODEOHWRVHOHFWDFXWHFDUHDQGQRQDFXWHKHDOWKFDUHIDFLOLWLHV6HH$SSHQGL[$LQWKH
YDOXHDQDO\VLVWRRONLWRU([KLELW%IRUVSHFLILFFODVVRIWUDGHDYDLODELOLW\
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOV
x *(¶VQHZDJUHHPHQWSULFLQJRIIHUVXSDSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 66*OREDO¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x :HOFK$OO\Q¶VQHZDJUHHPHQWSULFLQJRIIHUVXSDSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x :HOFK$OO\QLVWKHRYHUDOOORZFRVWVXSSOLHU66LVWKHORZFRVWVXSSOLHUIRUVSK\JPRPDQRPHWHUV6HHWKH
ILQDQFLDODQDO\VLVVHFWLRQRIWKHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
:HOFK$OO\QRIIHUVFRQYHUVLRQLPSOHPHQWDWLRQFOLQLFDOLQVHUYLFLQJDQGSUHFRQYHUVLRQQRWLILFDWLRQVHUYLFHVDVYDOXH
DGGV6HHWKHYDOXHDGGVHFWLRQLQWKHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
$YDLODEOHWKURXJKGLVWULEXWLRQ*(66*OREDO:HOFK$OO\Q
$YDLODEOHGLUHFW*(66*OREDO
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
x
*HQHUDO(OHFWULF&RPSDQ\E\DQGWKURXJKLWV*(+HDOWKFDUHGLYLVLRQ/LQGVD\$UDQKD
OLQGVD\DUDQKD#JHFRP
696//&GED66*OREDO&KULV0F&DZFKULVBPFFDZ#SUHPLHULQFFRP
:HOFK$OO\Q,QF5LFN+ROPHVULFNKROPHV#KLOOURPFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
5HODWHGFDWHJRULHV
x
x
x
)HWDO0RQLWRULQJ)HWDOPRQLWRULQJHTXLSPHQWSURYLGHVFRQWLQXRXVEHGVLGHPRQLWRULQJRIDQWHSDUWXPDQGLQWUDSDUWXP
SDUDPHWHUVWRDVVLVWFOLQLFLDQVZLWKDGGLWLRQDOLQIRUPDWLRQDERXWWKHIHWDODQGPDWHUQDOSK\VLRORJLFFRQGLWLRQV
,QYDVLYH&DUGLRORJ\(TXLSPHQW&DWKHWHUODEKHPRG\QDPLFPRQLWRULQJV\VWHPVDQGHOHFWURSK\VLRORJ\PRQLWRULQJ
V\VWHPV
1RQ,QYDVLYH&DUGLRORJ\(TXLSPHQW(OHFWURFDUGLRJUDSK\ (&* PDFKLQHVDQGFDUWV(&*PDQDJHPHQWV\VWHPV+ROWHU
PRQLWRULQJDQGVWUHVVWHVWLQJSURGXFWV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
%ORRG3UHVVXUH&XIIVDQG$FFHVVRULHV
(IIHFWLYH-XQHWKURXJK0D\
5HODWHGFDWHJRULHV FRQWLQXHG x
x
x
x
3XOVH2[LPHWU\DQG&DSQRJUDSK\'HYLFHV&DSLWDOHTXLSPHQWGLVSRVDEOHVVHQVRUVDQGFRQQHFWLQJFDEOHVWKDWDUH
XVHGLQWKHPHDVXUHPHQWPDQDJHPHQWDQGUHFRUGLQJRISDWLHQWR[\JHQDWLRQOHYHOVYLDDQHOHFWURQLFVHQVRUSODFHGRQ
WKHSDWLHQW VILQJHUWLSHDUOREHRULQWKHFDVHRIDQHRQDWHDFURVVWKHIRRW 3K\VLRORJLFDO0RQLWRULQJ6\VWHPV3K\VLRORJLFDOPRQLWRULQJV\VWHPVDOORZSDWLHQWV¶SK\VLRORJLFSDUDPHWHUVVXFKDV
UHVSLUDWRU\UDWHERG\WHPSHUDWXUHQRQLQYDVLYHEORRGSUHVVXUHDQGLQYDVLYHEORRGSUHVVXUHWREHFRQWLQXRXVO\PRQLWRUHG
VRWKDWFKDQJHVFDQEHLGHQWLILHGDQGLIQHFHVVDU\WUHDWHG
+LJK/HYHO'LVLQIHFWLRQ5HSURFHVVLQJ5HSURFHVVLQJVHUYLFHVIRUVHPLFULWLFDODQGQRQFULWLFDOVLQJOHXVHGHYLFHV
LQFOXGLQJEORRGSUHVVXUHFXIIV
6WHWKRVFRSHV$OVRXVHGLQEORRGSUHVVXUHPHDVXUHPHQWFDQEHIRXQGRQDJUHHPHQW336% 66*OREDO0XOWL
3URGXFW0DVWHU$JUHHPHQW )XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
x 3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLV
GRFXPHQWLVXQDEOHWREHHGLWHG
x 3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG 35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
&HUHEUDODQG5HJLRQDO2[LPHWU\(TXLSPHQW
(IIHFWLYH)HEUXDU\
([SLUHV$SULO
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVHTXLSPHQWWKDWQRQLQYDVLYHO\PHDVXUHVWKH
UHJLRQDOR[\JHQVDWXUDWLRQLQWKHLQWUDFUDQLDOPLFURYDVFXODWXUHRIWKH
EUDLQRUWKHVRPD0RQLWRULQJLVSHUIRUPHGLQWKHDGXOWSHGLDWULF
LQIDQWDQGQHRQDWDOSRSXODWLRQVLQYDULRXVFOLQLFDOVHWWLQJVZKHUHWKH
EUDLQRUERG\DUHDWULVNRIUHGXFHGIORZRUQRIORZLVFKHPLFVWDWHV
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
0HGWURQLF
*UHJ*RRGDOO JUHJMJRRGDOO#PHGWURQLFFRP
1RQLQ
7RP&RVOHU
WRPFRVOHU#QRQLFFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI1RYHPEHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK1RQLQ
$30')3$LVUHTXLUHGDWDOOWLHUVZLWK0HGWURQLF
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXS
SXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
WKDWRZQKDYHFRQWURORIRUH[SUHVVFRQWUDFWXDODXWKRULW\LQ
SXUFKDVLQJGHFLVLRQVRQEHKDOIRIRWKHUIDFLOLWLHVZLWK0HGWURQLF
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXS
SXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVZLWK1RQLQ
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3300
3300
3300
3300
1RQLQLVDVPDOOEXVLQHVVHQWHUSULVH 6%( )LQDQFLDOFRQVLGHUDWLRQV
x &RVWRIGLVSRVDEOHV
x 3UHYHQWLRQRILQFUHDVHGOHQJWKVRI
VWD\IURPSDWLHQWVWKDWHQGXUH
EUDLQLQMXU\
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3URDFWLYHPRQLWRULQJIRUSUHYHQWLRQ
RIEUDLQLVFKHPLDDQGFRJQLWLYH
GHILFLWV
x $XGLEOHDQGYLVXDODOHUWVIRU
FRQVLVWHQF\DQGDFFXUDF\
x 6HQVRUVWDLORUHGIRUSDWLHQW
SRSXODWLRQ
5RDGEORFNVWRFRQYHUVLRQ
x 6XUJHRQDQGDQHVWKHVLRORJLVW
DFFHSWDQFHDQGHQJDJHPHQW
x &OLQLFDOHGXFDWLRQRISURGXFW
HIIHFWLYHQHVVLQPXOWLSOHW\SHVRI
SURFHGXUHV
3ULFLQJLVVXEMHFWWRFKDQJHZLWK0HGWURQLFGHSHQGLQJRQWKH
FRVWRIUDZPDWHULDOV
0HGWURQLF¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
0HGWURQLFRIIHUVWKUHHHTXLSPHQWDFTXLVLWLRQSURJUDPVDQGDQXSJUDGHWUDGHLQSURJUDPDVYDOXHDGGV6HH
YDOXHDGGVLQWKHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
0HGWURQLFFKDUJHVIRURUGHUVOHVVWKDQ
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWK1RQLQ
1RQLQRIIHUVFRQVLJQPHQWWUDGHLQDQGVZDSRXWSURJUDPVDVYDOXHDGGV6HHYDOXHDGGVLQWKHYDOXHDQDO\VLV
WRRONLWIRUGHWDLOV
$YDLODEOHGLUHFWDQGWKURXJKGLVWULEXWLRQ0HGWURQLFDQG1RQLQ
x 0HGWURQLFFKDUJHVDSHUFHQWGLUHFWRUGHUKDQGOLQJIHHIRUSURGXFWVDYDLODEOHWKURXJKGLVWULEXWLRQ
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
&OHDQLQJ9DOLGDWLRQ6XSSRUW3URGXFWV(IIHFWLYH2FWREHU
Expires September 30, 2019
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\FRQVLVWVRISURGXFWVXVHGIRUWHVWLQJWKHFOHDQLQJ
HIILFDF\7KHVHLWHPVKDYHGHWHFWLRQSURSHUWLHV7KHSURGXFWVLQWKLV
FDWHJRU\LQFOXGHWKRVHWKDWWHVWHTXLSPHQWXVHGIRUFOHDQLQJ,WDOVR
LQFOXGHVSURGXFWVWKDWWHVWWKHLWHP V WKDWKDYHEHHQWKUXWKH
FOHDQLQJSURFHVVWRDVVXUHWKDWSURSHUFOHDQLQJKDVWDNHQSODFH
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
*HWLQJH
0LNH6PLWK
0LNHVPLWK#JHWLQJHFRP
+HDOWKPDUN
6WHYHQ
%DVLOH
VMEDVLOH#KPDUNFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-XQH)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHUDQGKLJKHUIRUERWKVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
6XSSOLHU
1HZ
([SLULQJ
3300
1HZ
3300
1HZ
+HDOWKPDUNLVDVPDOOEXVLQHVVHQWHUSULVH 6%( )LQDQFLDOFRQVLGHUDWLRQV
x 3ULFLQJ
x &RVWRIFRQYHUVLRQ
8VHUVDWLVIDFWLRQ
x 3URGXFWPHHWVVWDQGDUGVIRUVSHFLILF
W\SHVRIFOHDQLQJSURFHVVHV
x 3URGXFWLVHIIHFWLYHLQGHWHUPLQLQJ
FOHDQLQJUHTXLUHPHQWVKDYHEHHQ
PHW
x 6WDIIHGXFDWLRQDQGVXSSRUWE\WKH
VXSSOLHU
5RDGEORFNVWRFRQYHUVLRQ
x &XUUHQWFOHDQLQJSURFHVVSHU
V\VWHPLQWKHIDFLOLW\
x 6WDIIDFFHSWDQFH
x &RVW
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKERWKVXSSOLHUV
+HDOWKPDUNRIIHUVYDOXHDGGV
+HDOWKPDUNRIIHUVDQHDUO\SD\PHQWGLVFRXQWRISHUFHQWIRU
SD\PHQWVPDGHZLWKLQGD\V
$YDLODEOHGLUHFWDQGWKURXJKGLVWULEXWLRQ*HWLQJHDQG+HDOWKPDUN
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
&OHDQLQJ9DOLGDWLRQ6XSSRUW3URGXFWV(IIHFWLYH2FWREHU
Expires September 30, 2019
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x 0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
x &URVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
x
5HODWHGFDWHJRU\
x
x
x
6WHULOL]DWLRQ$VVXUDQFH8VHGWRLQGLFDWHLIFRQGLWLRQVRIVWHULOL]DWLRQKDYHEHHQPHW'LIIHUHQWSURGXFWV
DUHDYDLODEOHIRUVWHDPHWK\OHQHR[LGHJDVSODVPDDQGSHUDFHWLFDFLG3URGXFWVDUHDOVRDYDLODEOHIRU
KLJKOHYHOGLVLQIHFWDQWYDOLGDWLRQ
6WHULOL]DWLRQ3RUWIROLR$FRPSUHKHQVLYHGRFXPHQWFRQWDLQLQJVWHULOL]DWLRQDJUHHPHQWV6WHULOL]HUV
V\VWHPVDUHXVHGWRGLVLQIHFWDQGVWHULOL]HVXUJLFDOHTXLSPHQWE\PHDQVRIHPHUVLRQJDVDQGRWKHU
FOHDQLQJDJHQWV7KLVSRUWIROLRLQFOXGHVDXWRPDWHGHQGRVFRSLFUHSURFHVVRUVHWK\OHQHR[LGH (W2 VWHULOL]HUVJDVSODVPDVWHULOL]DWLRQVWHDPVWHULOL]HUVDQGZDVKHUVDQGGHFRQWDPLQDWRUV
,QVWUXPHQWVFOHDQHUVDQGHQ]\PDWLFV,QFOXGHVGHWHUJHQWVHQ]\PDWLFVULQVHVDQGOXEULFDQWVIRU
PDQXDORUPHFKDQLFDOFOHDQLQJ,QVWUXPHQWFOHDQHUVDQGHQ]\PDWLFVDUHGHVLJQHGWRGHFUHDVHPDQXDO
KDQGOLQJDQGVFUXEELQJRIPHGLFDOGHYLFHVDQGLQVWUXPHQWV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
&RQYXOVLYH7KHUDS\6WLPXODWRUVDQG5HODWHG3URGXFWV (IIHFWLYH$SULO
([SLUHV0DUFK
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVHOHFWULFDOEUDLQVWLPXODWRUVWKDWDSSO\HOHFWULF
VKRFNWRDSDWLHQW VEUDLQWRLQGXFHFRQYXOVLRQVDQGORVVRI
FRQVFLRXVQHVV7KHVHVWLPXODWRUVW\SLFDOO\FRQVLVWRIDFRQVROHZLWK
FRQWUROVDQGGLVSOD\VSULQWHUVDQGHOHFWURGHV
$JUHHPHQWLVDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG3UHPLHU
5($&+PHPEHUV
$GULDQ
.HWWHULQJ
FRQVXOW#PHFWDFRUSFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
+RZWRRSHUDWLRQDOL]HWKLVDJUHHPHQW
x
x
6XSSOLHU
1HZ
([SLULQJ
33$&
1HZ
0(&7$LVDVPDOOEXVLQHVVHQWHUSULVH 6%( &ODVVRIWUDGH
0(&7$
$ZDUGHGVXSSOLHU
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RU
HOHFWURQLFSULFHDFWLYDWLRQ 3$ LVQRWUHTXLUHGGXHWRVLQJOHWLHU
RIIHULQJ
0HPEHUVPXVWVSHFLI\WR0(&7$VDOHVPDQDJHUVWKDWWKH\DUH
D3UHPLHUPHPEHUEHIRUHRUGHULQJWRUHFHLYHWKHSULFLQJDQG
EHQHILWVQHJRWLDWHGRQEHKDOIRI3UHPLHU
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
)LQDQFLDOFRQVLGHUDWLRQV
x 'LVFRXQWRIIRIOLVWSULFH
x 7UDGHLQV
x :DUUDQWLHV
x 0HGLFDOUHLPEXUVHPHQW
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3DWLHQWFRPIRUW
x $ELOLW\WRFRQQHFWWRHOHFWURQLF
PHGLFDOUHFRUGV
x $ODUPVDQGVDIHW\
x 7\SHRIWKHUDS\ XQLODWHUDORI
ELODWHUDO 5RDGEORFNVWRFRQYHUVLRQ
x &RQVXPDEOHVDUHSURSULHWDU\
x 3XEOLFRSLQLRQRIFRQYXOVLYH
WKHUDS\
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQW
0HFWD¶VDJUHHPHQWSULFLQJLVRIIHULQJDSHUFHQWGLVFRXQWRIIRIOLVWSULFH
)DFLOLWLHVWKDWSXUFKDVHD0(&7$&RUSRUDWLRQHOHFWURFRQYXOVLYHWKHUDS\GHYLFHDQGWUDGHLQWKHLUROG
HOHFWURFRQYXOVLYHWKHUDS\GHYLFH ZKHWKHULWLVD0(&7$GHYLFHRUDFRPSHWLWRU¶VGHYLFH ZLOOUHFHLYHD
GLVFRXQWRIIRIWKHLUSXUFKDVHSULFH
3URGXFWVDUHDYDLODEOHGLUHFWIURP0(&7$
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
'LVSRVDEOH9DJLQDO6SHFXOXPV (IIHFWLYH-XO\
([SLUHV-XQH
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVGLVSRVDEOHYDJLQDOVSHFXOXPVDQGVSHFXOXP
OLJKWLQJV\VWHPV
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
33$&
1HZ
33$&
33$&
33$&
33$&
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
0DWWKHZ PDWWKHZWUDXE#RESPHGFRP
7UDXE
[
.\OH
7ULQLW\6WHULOH
N\OHZDOWHU#WULQLW\VWHULOHFRP
:DOWHU
5LFN
:HOFK$OO\Q
ULFNKROPHV#KLOOURPFRP
+ROPHV
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
2%30HGLFDO
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RU
HOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHU
ZLWK2%30HGLFDODQG:HOFK$OO\Q
$30')3$LVQRWUHTXLUHGZLWK7ULQLW\6WHULOHGXHWRLWVVLQJOH
WLHURIIHULQJ
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
2%30HGLFDOLVDVPDOOEXVLQHVVHQWHUSULVH 6%( 7ULQLW\
6WHULOHLVDPLQRULW\RZQHGEXVLQHVVHQWHUSULVH 0%( )LQDQFLDOFRQVLGHUDWLRQV
x $JJUHJDWLRQ
x 3ULFLQJ
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3DWLHQWSRSXODWLRQDQGVSHFXOXP
VL]HV
x 3DWLHQWFRPIRUW
x &HUYLFDOFDQFHUVFUHHQLQJ
x ,QIHFWLRQFRQWURODQGFURVV
FRQWDPLQDWLRQ
5RDGEORFNVWRFRQYHUVLRQ
x 'LVWULEXWLRQDJUHHPHQWV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQG
HVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWK2%30HGLFDO
$JJUHJDWLRQLVQRWDSSOLFDEOHZLWK7ULQLW\6WHULOHGXHWRLWVVLQJOH
WLHURIIHULQJ
:HOFK$OO\QDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVXQGHUFRPPRQRZQHUVKLS2QO\DFXWHFDUHPHPEHUV
PD\DJJUHJDWHWKHYROXPHRIWKHLURZQHGFRQWUROOHGIDFLOLWLHVDPEXODWRU\FDUHPHPEHUVWKDWDUHQRWRZQHGRU
FRQWUROOHGE\DQDFXWHFDUHPHPEHU PD\QRWLQGHSHQGHQWO\DJJUHJDWHWKHSXUFKDVLQJYROXPHRIWKHLUIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKDOOVXSSOLHUV
7ULQLW\6WHULOH¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
:HOFK$OO\Q¶VQHZDJUHHPHQWSULFLQJKDVDSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
7ULQLW\6WHULOHLVWKHORZFRVWVXSSOLHU
$YDLODEOHWKURXJKGLVWULEXWLRQ2%30HGLFDO7ULQLW\6WHULOH:HOFK$OO\Q
$YDLODEOHGLUHFW7ULQLW\6WHULOH
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
([WHUQDO'HILEULOODWRUVDQG5HODWHG3URGXFWV
(IIHFWLYH-XQH
([SLUHV0D\
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVPDQXDOH[WHUQDOGHILEULOODWRUVDQGDXWRPDWHG
H[WHUQDOGHILEULOODWRUV $('V 7KHFDWHJRU\DOVRLQFOXGHVQRQ
GLVSRVDEOHFDEOHVDQGOHDGVSURSULHWDU\GLVSHUVLYHSDGVEDWWHULHV
VWRUDJHFDVHVDQG&35DVVLVWLYHGHYLFHV
6XSSOLHU
&ODVVRIWUDGH
3KLOLSVDQG=2//DUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV3K\VLR&RQWUROLVDYDLODEOHWRKRVSLWDO
PHPEHUVRQO\ 3KLOLSV
5RQ6FLHSNR
URQVFLHSNR#SKLOLSVFRP
3K\VLR
&RQWURO
&KULVWLQH
FKULVELOOV#SK\VLR
FRQWUROFRP
%LOOV
/\QQ
=2//
OFRQDZD\#]ROOFRP
&RQDZD\
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$XJXVW)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RU
HOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHURUKLJKHU
ZLWK3KLOLSVDQG=2//
3K\VLR&RQWUROUHTXLUHV30')3$IRU7LHURUKLJKHU
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQG
HVWDEOLVKHGQHWZRUNVZLWK3K\VLR&RQWURODQG=2//
3KLOLSVDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVZLWKWKH
DELOLW\WRFRQWUROSXUFKDVLQJGHFLVLRQV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
1HZ
([SLULQJ
33&$
33&$
33&$
33&$
33&$
33&$
7KHFXUUHQWDJUHHPHQWZLWK&DUGLDF6FLHQFH
33&$ H[SLUHV0D\
7KHUHLVQR$6&(1'DZDUGLQWKLVFDWHJRU\
)LQDQFLDOFRQVLGHUDWLRQV
x %DWWHU\OLIH
x &OLQLFDOQHHGVGHWHUPLQHSURGXFW
FRQILJXUDWLRQV
x 2QJRLQJGLVSRVDEOHFRVWV
x :DUUDQWLHV
x (DUO\SD\PHQWDQGODUJHRUGHU
GLVFRXQWV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3DWLHQWVDIHW\SRRUHOHFWURGH
DSSOLFDWLRQDQGVNLQEXUQVDWSDGVLWH
x 1HHGIRUVWDQGDUGL]DWLRQVRFOLQLFDO
VWDIIFDQVDIHO\UHVSRQGWRDOOHYHQWV
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVXSSOLHUUHODWLRQVKLSV
x 0XOWLSOHSODWIRUPVPD\UHVXOWLQ
SRVVLEOHVDIHW\LPSOLFDWLRQVDQG
DGGLWLRQDOWUDLQLQJQHHGV
3ULFLQJLVILUPIRUWKHWHUPZLWKDOOVXSSOLHUV
3KLOLSVRIIHUVDSHUFHQWWRSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
3K\VLR&RQWURORIIHUVDSHUFHQWWRSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
=2//RIIHUVDSHUFHQWLQFUHDVHWRDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRWKHH[SLULQJDJUHHPHQW
%DVHGRQVFHQDULRV3KLOLSVLVWKHRYHUDOOORZFRVWVXSSOLHU
%DVHGRQVFHQDULRV=2//LVWKHORZFRVWVXSSOLHUIRUSXEOLFDFFHVV$('V
$YDLODEOHWKURXJKGLVWULEXWLRQ3KLOLSVDQG3K\VLR&RQWURO
$YDLODEOHGLUHFW3KLOLSV3K\VLR&RQWURODQG=2//
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
([WHUQDO'HILEULOODWRUVDQG5HODWHG3URGXFWV
(IIHFWLYH-XQH
([SLUHV0D\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHVXPPDU\WKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
5HODWHGFDWHJRULHV
x
x
x
(&*(OHFWURGHV&DEOHV/HDG:LUHVDQG'HILEULOODWRU3DGV1RQSURSULHWDU\GLVSHUVLYHSDGV(&*HOHFWURGHV
FDEOHVDQGOHDGZLUHV
3XOVH2[LPHWU\'LVSRVDEOHSXOVHR[LPHWU\GHYLFHVHQVRUV
&KDUW3DSHUDQG5HODWHG3URGXFWV(&*UHFRGLQJSDSHU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
)HWDO0RQLWRULQJ
(IIHFWLYH-XQHWKURXJK0D\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVHTXLSPHQWWKDWSURYLGHVFRQWLQXRXVEHGVLGH
PRQLWRULQJGXULQJWKHDQWHSDUWXPDQGLQWUDSDUWXPSHULRGV7KLVPRQLWRULQJ
FRQVLVWVRIUHTXLUHGSDUDPHWHUVWKDWDVVLVWFOLQLFLDQVZLWKLQIRUPDWLRQWR
DVVHVVWKHIHWDODQGPDWHUQDOSK\VLRORJLFDOFRQGLWLRQVGXULQJWKHODERU
SURFHVVDQGSUHJQDQF\SHULRG3ULPDULO\LWFRQVLVWRIWKHHOHFWURQLFPRQLWRU
WKDWPRQLWRUVIHWDOKHDUWEHDWDQGWKHPRWKHU¶VXWHULQHFRQWUDFWLRQVGXULQJ
FKLOGELUWKDQGWKHQHFHVVDU\FRQVXPDEOHVXWLOL]HG
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK*(DQG
9\DLUH
$30')3$LVQRWUHTXLUHGZLWK3KLOLSVGXHWRVLQJOHWLHURIIHULQJ
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
3300 33:&
3300 33:&
3300 33:&
$6&(1'7KHUHLVQR$6&(1'DZDUGLQWKLV
FDWHJRU\
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
ZLWK*(DQG9\DLUH
x 7KHDJJUHJDWLRQSULFLQJRSWLRQZLWK9\DLUHDSSOLHVWRWKHSXUFKDVHYROXPHRIDOOIDFLOLWLHVWKDWGHVLJQDWHWKH
XQGHUVLJQHGPHPEHUDVDWRSRUGLUHFWSDUHQWRQWKHPHPEHUVKLSURVWHUDQGDQ\IDFLOLW\OLVWHGRQ([KLELW$,Q
WKHHYHQWDPHPEHUZLWKLQDQDJJUHJDWLRQJURXSGRHVQRWXVH9\DLUHDVWKHLUSULPDU\VXSSOLHURIIHWDOPRQLWRULQJ
SURGXFWV9\DLUHPD\PRYHWKHPHPEHUWRWKHDSSURSULDWHWLHUEDVHGRQWKHPHPEHU¶VLQGLYLGXDOYROXPH
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVZLWK3KLOLSV
&ODVVRIWUDGH
x
x
$JUHHPHQWVZLWK*(DQG3KLOLSVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
9\DLUH¶VDJUHHPHQWLVDOORZHGIRU86KHDOWKFDUHSURYLGHUVQRWLQFOXGLQJUHWDLOSKDUPDFLHVRWKHUUHWDLODQGFRQWUDFW
UHVHDUFKRUJDQL]DWLRQV &52V 2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOV
x *(¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 3KLOLSV¶QHZDJUHHPHQWSULFLQJKDVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 9\DLUH¶VQHZDJUHHPHQWSULFLQJRIIHUVDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 3ULFLQJVFHQDULRVUHYHDOWKHORZFRVWVXSSOLHUYDULHVE\VFHQDULR6HHWKHILQDQFLDODQDO\VLVVHFWLRQRIWKHYDOXH
DQDO\VLVWRRONLWIRUGHWDLOV
*(RIIHUVPHPEHUVWKHRSSRUWXQLW\WRUHFHLYHDGGLWLRQDOYDOXHEDVHGXSRQWKHLUFRPPLWPHQWDFURVVPXOWLSOHFDWHJRULHV
DVDYDOXHDGG6HHWKHYDOXHDGGVHFWLRQRIWKHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
$YDLODEOHWKURXJKGLVWULEXWLRQ3KLOLSV9\DLUH
$YDLODEOHGLUHFW*(3KLOLSV9\DLUH
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
x
*HQHUDO(OHFWULF&RPSDQ\E\DQGWKURXJKLWV*(+HDOWKFDUH'LYLVLRQ/LQGVD\$UDQKD
OLQGVD\DUDQKD#JHFRP
3KLOLSV+HDOWKFDUHDGLYLVLRQRI3KLOLSV(OHFWURQLFV1RUWK$PHULFD&RUSRUDWLRQ5RQ6FLHSNR
URQVFLHSNR#SKLOLSVFRP
9\DLUH0HGLFDO,QF7HUU\%U\DQWWHUU\EU\DQW#Y\DLUHFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
)HWDO0RQLWRULQJ
(IIHFWLYH-XQHWKURXJK0D\
5HODWHGFDWHJRULHV
x
x
2EVWHWULFDO'DWD0DQDJHPHQW6\VWHPV7HFKQRORJ\LQWHQGHGIRUFRQWLQXRXVPRQLWRULQJDQGUHFRUGLQJRISHULQDWDO
SDUDPHWHUVFROOHFWHGIURPEHGVLGHE\IHWDOPRQLWRUV
2EVWHWULFDO0RQLWRULQJ'HYLFHV)HWDOVFDOSHOHFWURGHVLQWUDXWHULQHSUHVVXUHFDWKHWHUVYDFXXPDVVLVWHGGHOLYHU\W\SH
GHYLFHVDQGDFFHVVRULHV
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLV
GRFXPHQWLVXQDEOHWREHHGLWHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
*OXFRVH0DQDJHPHQW
(IIHFWLYH$SULO
([SLUHV0DUFK
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVEORRGJOXFRVHPHWHUVLQVXOLQSHQQHHGOHV
ODQFHWVODQFHWGHYLFHVRUDOJOXFRVHWROHUDQFHWHVWLQJDQGWHVWVWULSV
XVHGLQKHDOWKFDUHVHWWLQJVDVZHOODVSURGXFWVGHVLJQHGIRUKRPH
XVHE\FRQVXPHUV
7KLVFDWHJRU\ZDVSUHYLRXVO\WLWOHG%ORRG*OXFRVH0HWHUV5HDJHQWV
&RQVXPDEOHVDQG6HUYLFH &RQWLQXXPRI&DUH &ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
$JD0DWUL[
$5.5$<
%LOO
.HOOH\
*UHJ
'H5RVD
5DOSK
)LQNELQHU
ENHOOH\#DJDPDWUL[FRP
GHURVDJ#DUNUD\XVDFRP
$]HU
UDOSK#D]HUVFLFRP
6FLHQWLILF
0+&
$VKOH\
0HGLFDO
DJOHDVRQ#PKFPHGFRP
*OHDVRQ
3URGXFWV
6WHHGH
-RUJH
MJSHUHLUD#VWHHGHPHGLFDOFRP
0HGLFDO
3HUHLUD
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
6XSSOLHU
1HZ
33$& 33$&
([SLULQJ
33$& 33$&
33$&
1HZ
33$&
1HZ
33$&
1HZ
$]HU6FLHQWLILFDQG6WHHGH0HGLFDODUHVPDOO
EXVLQHVVHQWHUSULVHV 6%( )LQDQFLDOFRQVLGHUDWLRQV
x (DUO\SD\PHQWGLVFRXQWV
x 3ULFLQJIRUPHWHUVDQGWHVWVWULSV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3RVVLEOHFURVVFRQWDPLQDWLRQIURP
VKDULQJEORRGJOXFRVHPHWHUV
5RDGEORFNVWRFRQYHUVLRQ
x 7HVWVWULSVDUHSURSULHWDU\WREORRG
JOXFRVHPHWHUV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK$]HU6FLHQWLILF
$30')3$LVQRWUHTXLUHGZLWK$JD0DWUL[$5.5$<0+&0HGLFDORU6WHHGH0HGLFDOGXHWRVLQJOHWLHU
RIIHULQJV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRI
IDFLOLWLHVZLWK$]HU6FLHQWLILF
$JJUHJDWLRQLVQRWDSSOLFDEOHZLWK$JD0DWUL[$5.5$<0+&0HGLFDORU6WHHGH0HGLFDOGXHWRVLQJOHWLHU
RIIHULQJV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPZLWK$JD0DWUL[$5.5$<$]HU6FLHQWLILF0+&0HGLFDO3URGXFWVDQG6WHHGH0HGLFDO
$JD0DWUL[¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
$JD0DWUL[LVWKHORZFRVWVXSSOLHU
$5.5$<¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJSULFLQJ
$]HU6FLHQWLILFRIIHUVRUDOJOXFRVHWROHUDQFHWHVWLQJRQO\
$YDLODEOHGLUHFWDQGWKURXJKGLVWULEXWLRQ$JD0DWUL[$5.5$<$]HU6FLHQWLILF0+&0HGLFDO3URGXFWVDQG6WHHGH
0HGLFDO
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
*OXFRVH0DQDJHPHQW
(IIHFWLYH$SULO
([SLUHV0DUFK
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRU\
x %ORRG*OXFRVH0HWHUV5HDJHQWV&RQVXPDEOHVDQG6HUYLFH%ORRGJOXFRVHPRQLWRUVODQFHWVDQGWHVWVWULSV
XVHGLQKHDOWKFDUHVHWWLQJV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
+LJK/HYHO'LVLQIHFWLRQ5HSURFHVVLQJ(IIHFWLYH-DQXDU\
([SLUHV'HFHPEHU
6HUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KHDJUHHPHQWVLQWKLVFDWHJRU\RIIHUUHSURFHVVLQJVHUYLFHVIRUVHPL
FULWLFDODQGQRQFULWLFDOVLQJOHXVHGHYLFHV
6XSSOLHU
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
1HZ
([SLULQJ
3300
3316
3300
+\JLD
JOHQQFKHQRW#K\JLDQHW
5H1~
$P\/RQJ
DP\#UHQXPHGLFDOFRP
[
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI6HSWHPEHU)RU
XSWRGDWHFRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
*OHQQ&KHQRW
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHUIRU5H1X+\JLD
RIIHUVDVLQJOH3UHPLHUWLHU
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVIRU5H1X+\JLDRIIHUVD
VLQJOH3UHPLHUWLHU
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
$600
3316
$616
+\JLDLVDZRPDQRZQHGEXVLQHVVHQWHUSULVH
5H1~LVDYHWHUDQRZQHGEXVLQHVVHQWHUSULVH
)LQDQFLDOFRQVLGHUDWLRQV
x ,QFXPEHQWWRQHZSULFLQJDQGWHUPV
DQGFRQGLWLRQVUHPDLQWKHVDPHIRU
ERWKVXSSOLHUV
x (DUO\SD\PHQWGLVFRXQW
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 1RQFULWLFDODQGVHPLFULWLFDOGHYLFHV
YHUVXVFULWLFDOGHYLFHV
5RDGEORFNVWRFRQYHUVLRQ
x 6WDIIHGXFDWLRQDERXW+/'5YHUVXV
VWHULOHUHSURFHVVLQJ
3ULFLQJLVILUPIRUWKHWHUPZLWKERWKVXSSOLHUV
,QFXPEHQWWRQHZSULFLQJDQGWHUPVDQGFRQGLWLRQVUHPDLQWKHVDPHIRUERWKVXSSOLHUV
5H1XRIIHUVDYDOXHDGGFRQYHUVLRQUHEDWHDQGYROXPHJURZWKUHEDWH
5H1XRIIHUVDQHDUO\SD\PHQWGLVFRXQW
)LQDQFLDODQDO\VLVUHYHDOVERWKVXSSOLHUVRIIHUVDYLQJVFRPSDUHGWRWKHLUH[SLULQJDJUHHPHQWSULFLQJ
5H1~0HGLFDOLVWKHORZFRVWVXSSOLHU
$YDLODEOHGLUHFW+\JLDDQG5H1~
$YDLODEOHWKURXJKGLVWULEXWLRQ5H1~
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
$GGLWLRQDOUHVRXUFHV
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EH
EURNHQ7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
+LJK/HYHO'LVLQIHFWLRQ5HSURFHVVLQJ(IIHFWLYH-DQXDU\
([SLUHV'HFHPEHU
5HODWHGFDWHJRULHV
x
+LJK/HYHO'LVLQIHFWDQWV&KHPLFDOVFDSDEOHRINLOOLQJEDFWHULDYLUXVHVDQGEDFWHULDOVSRUHVZKHQXVHGLQ
VXIILFLHQWFRQFHQWUDWLRQXQGHUVXLWDEOHFRQGLWLRQVDQGDUHSULPDULO\XVHGWRGLVLQIHFWVHPLFULWLFDOLWHPV$OVR
LQFOXGHGLQWKLVFDWHJRU\DUH,QWHUPHGLDWHOHYHOGLVLQIHFWDQWZLSHVZKLFKDUHXVHGWRGLVLQIHFWSDWLHQWFDUH
DUHDVDQGHTXLSPHQWLQEHWZHHQSDWLHQWXVH
x 6WHULOH5HSURFHVVLQJ6WHULOHUHSURFHVVLQJLVDVHUYLFHWKDWLVSURYLGHGE\DWKLUGSDUW\UHSURFHVVRUWKDW
FROOHFWVXVHGRURSHQDQGXQXVHGVLQJOHXVHVXUJLFDOGHYLFHVIURPDQDFXWHFDUHIDFLOLW\7KHVHLWHPVDUHWKHQ
FOHDQHGIXQFWLRQDOO\WHVWHGLQVSHFWHGWUDFNHGDVSHUWKHQXPEHURIUHSURFHVVLQJF\FOHVUHSDFNDJHGDQG
VWHULOL]HG7KHGHYLFHVDUHWKHQSXUFKDVHGE\WKHIDFLOLW\DWDVDYLQJVRYHUWKHRULJLQDOPDQXIDFWXUHU 35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
,QIDQWDQG3DWLHQW6HFXULW\6ROXWLRQV (IIHFWLYH'HFHPEHU
([SLUHV1RYHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVSDWLHQWVHFXULW\V\VWHPVXWLOL]HGLQYDULRXV
KHDOWKFDUHVHWWLQJVIRUWKHSUHYHQWLRQRIDEGXFWLRQRIFKLOGUHQ7KH
FDWHJRU\DOVRLQFOXGHVHTXLSPHQWWRORFDWHSDWLHQWVSUHYHQW
HORSHPHQWDQGZDQGHULQJSUHYHQWLRQLQWKHROGHUWHHQDQGJHULDWULF
SRSXODWLRQVDQGPRWKHULQIDQWPDWFKLQJ
7KLVFDWHJRU\ZDVSUHYLRXVO\VRXUFHGDV5DGLR)UHTXHQF\ 5) %DQG
$GXOWDQG,QIDQW6HFXULW\6\VWHPV
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
33,7
1HZ
33,7
33:&
5)7HFKQRORJLHVLVDVPDOOEXVLQHVVHQWHUSULVH
6%( &ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHV
*DU\
JVXQVWHQ#FHQWUDNFRP
6XQVWHQ
-ROHHQ
5)
6LPRQHWWL MVLPRQHWWL#UIWFRP
7HFKQRORJLHV
:HLKV
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI6HSWHPEHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
&HQ7UDN
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURU
KLJKHUZLWK&HQ7UDN
&HQ7UDNUHTXLUHVDVHSDUDWHPHPEHUDJUHHPHQW
5)7HFKQRORJLHVGRHVQRWUHTXLUHD30')3$GXHWRVLQJOHWLHURIIHULQJ
5)7HFKQRORJLHVPD\UHTXLUHDVHSDUDWHPHPEHUDJUHHPHQWRUVWDWHPHQWRIZRUN
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
ZLWKERWKVXSSOLHUV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKERWKVXSSOLHUV
(DUO\SD\PHQWGLVFRXQWVDUHRIIHUHGE\ERWKVXSSOLHUV
5)7HFKQRORJLHV¶QHZDJUHHPHQWSULFLQJKDVDQSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
SULFLQJ
5)7HFKQRORJLHVRIIHUVDYROXPHLQFHQWLYHSURJUDPDQGVRIWZDUHXSJUDGHGLVFRXQWV6HHWKHYDOXHDGGV
VHFWLRQLQWKHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
5)7HFKQRORJLHVKDVDODUJHRUGHUGROODUWKUHVKROG
$YDLODEOHGLUHFW&HQ7UDNDQG5)7HFKQRORJLHV
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
,QIDQWDQG3DWLHQW6HFXULW\6ROXWLRQV (IIHFWLYH'HFHPEHU
([SLUHV1RYHPEHU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRU\
x
5),'$VVHW7UDFNLQJDQG0DQDJHPHQW6ROXWLRQV+DUGZDUHFRPSRQHQWVDQGVRIWZDUHDORQJZLWKWKH
DVVRFLDWHGSURIHVVLRQDOVHUYLFHVXVHGWRORFDWHDQGRUWUDFNWDJVZLUHOHVVO\DQGDFFXUDWHO\XVLQJUDGLR
IUHTXHQF\LGHQWLILFDWLRQ 5),' WRDVVLVWRUJDQL]DWLRQVLPSURYHRYHUDOOSURGXFWLYLW\HIILFLHQF\VDIHW\DQG
TXDOLW\
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
,QIDQW&DUH&DSLWDO(TXLSPHQW
(IIHFWLYH$XJXVWWKURXJK-XO\
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
7KLVFDWHJRU\LQFOXGHVFDSLWDOLWHPVXWLOL]HGIRUWKHFDUHRIWKHQHRQDWDO
LQIDQWDQGRWKHUJHQHUDOSHGLDWULFSDWLHQWSRSXODWLRQV7KHOLVWRIHTXLSPHQW
LVLQFOXVLYHRILQIDQWZDUPHUV RSHQDQGFORVHGHQYLURQPHQWV WUDQVSRUWHUV
LQFXEDWRUVUHVSLUDWRUVEUDLQFRROLQJHTXLSPHQWMDXQGLFHWKHUDS\
HTXLSPHQWDQGDXGLWRU\VFUHHQLQJHTXLSPHQW LQIDQWDQGDGXOW ZLWK
SURSULHWDU\GLVSRVDEOHV
3300 33:&
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKDOOVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
3300 33:&
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWK$WRP
0HGLFDO'UlJHU)OH[LFDUH*(DQG9\DLUH
$JJUHJDWLRQLVDOORZHGIRUIDFLOLWLHVOLVWHGZLWKWKHDELOLW\WR
FRRUGLQDWHWKHSXUFKDVHVRIWKRVHEHLQJDJJUHJDWHGRQO\ZLWK
)LVKHU 3D\NHO
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVRQO\ZLWK3KLOLSV
3300 33:&
3300
1HZ
3300 33:&
3300 33:&
&ODVVRIWUDGH
x
x
x
$JUHHPHQWVZLWK$WRP0HGLFDO'UlJHU)OH[LFDUH*(DQG3KLOLSV
DUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQ
KHDOWKFDUHIDFLOLWLHV
7KHDJUHHPHQWZLWK)LVKHU 3D\NHOLVDYDLODEOHWRDFXWHFDUHRQO\
7KHDJUHHPHQWZLWK9\DLUHLVDYDLODEOHWRKHDOWKFDUHIDFLOLWLHVRQO\
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
3300 33:&
&XUUHQWDJUHHPHQWVZLWK,QWHUQDWLRQDO
%LRPHGLFDO 33:& 1DWXV 33:& DQG2WRG\QDPLFV 33:& H[SLUH-XO\
$6&(1'7KHUHLVQR$6&(1'DZDUGLQWKLV
FDWHJRU\
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOV
x $WRP0HGLFDO¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQW
VDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 'UlJHU¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x )LVKHU 3D\NHO¶VQHZDJUHHPHQWSULFLQJLQFUHDVHVRYHUDOOE\SHUFHQWFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
SULFLQJ
x *(¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 3KLOLSV¶QHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 9\DLUH¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 7KHORZFRVWVXSSOLHUYDULHVSHUVFHQDULR3OHDVHVHHWKHILQDQFLDODQDO\VLVVHFWLRQIRUGHWDLOV
$WRP0HGLFDORIIHUVPHPEHUVDQLQVWDOODWLRQGLVFRXQWDVDYDOXHDGG
*(RIIHUVPHPEHUVWKHRSSRUWXQLW\WRUHFHLYHDGGLWLRQDOYDOXHEDVHGXSRQWKHLUWRWDOSXUFKDVHDVDYDOXHDGG
$YDLODEOHWKURXJKGLVWULEXWLRQ$WRP0HGLFDO)LVKHU 3D\NHO)OH[LFDUH3KLOLSVDQG9\DLUH
$YDLODEOHGLUHFW$WRP0HGLFDO'UlJHU)LVKHU 3D\NHO)OH[LFDUH*(3KLOLSVDQG9\DLUH
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
x
x
$WRP0HGLFDO86$//&%LOO7KRPSVRQZWKRPSVRQ#DWRPPHGXVDFRP 'UlJHU,QF/DULVVD.UDXVODULVVDNUDXV#GUDHJHUFRP
)LVKHU 3D\NHO+HDOWKFDUH,QF7UHQW&DPSEHOOWUHQWFDPSEHOO#ISKFDUHFRP
)OH[LFDUH,QF'ZLJKW7KRPDVGZLJKWWKRPDV#IOH[LFDUHFRP
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
,QIDQW&DUH&DSLWDO(TXLSPHQW
(IIHFWLYH$XJXVWWKURXJK-XO\
x
x
x
*HQHUDO(OHFWULF&RPSDQ\E\DQGWKURXJKLWV*(+HDOWKFDUH'LYLVLRQ/LQGVD\$UDQKD
OLQGVD\DUDQKD#JHFRP 3KLOLSV+HDOWKFDUHDGLYLVLRQRI3KLOLSV1RUWK$PHULFD//&5RQ6FLHSNRURQVFLHSNR#SKLOLSVFRP
9\DLUH0HGLFDO,QF7HUU\%U\DQWWHUU\EU\DQW#Y\DLUHFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0D\)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
5HODWHGFDWHJRULHV
x
x
x
3K\VLRORJLFDO0RQLWRULQJ6\VWHPV3K\VLRORJLFDOPRQLWRUVIRUDOODUHDVRISDWLHQWFDUHFHQWUDOVWDWLRQVEHGVLGHPRQLWRUV
DQDPEXODWRU\WHOHPHWU\V\VWHPDQGYLWDOVLJQPRQLWRUV
)HWDO0RQLWRULQJ(TXLSPHQWWKDWSURYLGHVFRQWLQXRXVEHGVLGHPRQLWRULQJGXULQJWKHDQWHSDUWXPDQGLQWUDSDUWXPSHULRGV
&ULEV%DVVLQHWV<RXWK%HGVDQG5HODWHG3URGXFWV+RVSLWDOJUDGHFULEVEDVVLQHWV\RXWKEHGVHQFORVXUHVDQG
DFFHVVRULHVGHVLJQHGIRUWKHSHGLDWULFSRSXODWLRQ
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLV
GRFXPHQWLVXQDEOHWREHHGLWHG
([FHOZRUNERRN$FRPSDQLRQGRFXPHQWWKDWSURYLGHVGHWDLOVRQWKHFULWLFDOVSHFLILFDWLRQVWLHUVDQGWHUPVDQG
FRQGLWLRQVIRUHDFKVXSSOLHUGXHWRWKHQXPEHURIDZDUGHGVXSSOLHUVLQWKLVFDWHJRU\
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
,QYDVLYH&DUGLRORJ\(TXLSPHQW
(IIHFWLYH-XQHWKURXJK0D\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVKHPRG\QDPLFPRQLWRULQJV\VWHPVZKLFKUHFRUGWKH
SK\VLRORJLFDQGSDWLHQWSDUDPHWHUVGXULQJGLDJQRVWLFDQGLQWHUYHQWLRQDO
FDUGLDFFDWKHWHUL]DWLRQVDQGHOHFWURSK\VLRORJ\ (3 PRQLWRULQJV\VWHPV
ZKLFKPRQLWRUDQGUHFRUGSDWLHQWSDUDPHWHUVGXULQJ(3VWXGLHV
7KHGLVSRVDEOHV FDWKHWHUVFDEOHVWUDQVGXFHUV IRUWKHVHV\VWHPVDUH
IRXQGLQUHODWHG3UHPLHUFDWHJRULHV
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKERWK
VXSSOLHUV
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
33&$
33&$
33&$
33&$
$6&(1'7KHUHLVQR$6&(1'DZDUGLQWKLV
FDWHJRU\
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
ZLWK*(
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVZLWK3KLOLSV
&ODVVRIWUDGH
x
x
*(¶VDJUHHPHQWLVDYDLODEOHWRDFXWHFDUHDQGQRQDFXWHKHDOWKFDUHIDFLOLWLHV
3KLOLSV¶DJUHHPHQWLVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKERWKVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOV
x *(¶VQHZDJUHHPHQWSULFLQJRIIHUVXSWRDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 3KLOLSV¶QHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 3ULFLQJVFHQDULRVUHYHDOWKHORZFRVWVXSSOLHUYDULHVE\VFHQDULR6HHWKHILQDQFLDODQDO\VLVVHFWLRQRIWKHYDOXH
DQDO\VLVWRRONLWIRUGHWDLOV
$YDLODEOHGLUHFW*(3KLOLSV
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
*HQHUDO(OHFWULF&RPSDQ\E\DQGWKURXJKLWV*(+HDOWKFDUH'LYLVLRQ/LQGVD\$UDQKD
OLQGVD\DUDQKD#JHFRP
3KLOLSV+HDOWKFDUHDGLYLVLRQRI3KLOLSV(OHFWURQLFV1RUWK$PHULFD&RUSRUDWLRQ5RQ6FLHSNR
URQVFLHSNR#SKLOLSVFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
5HODWHGFDWHJRULHV
x
x
x
(OHFWURSK\VLRORJ\3URGXFWV'LDJQRVWLFDQGWKHUDSHXWLFFDWKHWHUVDQGFDEOHV
+HPRG\QDPLF0RQLWRULQJ3URGXFWVDQG$FFHVVRULHV&DWKHWHUVWUDQVGXFHUVDQGDFFHVVRULHV
1RQLQYDVLYH&DUGLRORJ\(TXLSPHQW(OHFWURFDUGLRJUDSKPDFKLQHVDQGFDUWV(&*PDQDJHPHQWV\VWHPVDQG+ROWHU
PRQLWRULQJDQGVWUHVVWHVWLQJ
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLV
GRFXPHQWLVXQDEOHWREHHGLWHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
0HGLFDODQG6XUJLFDO3URGXFWV'LVWULEXWLRQ(IIHFWLYH-DQXDU\
([SLUHV'HFHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVWKHGLVWULEXWLRQRIPHGLFDODQGVXUJLFDO
SURGXFWV,9WKHUDS\LWHPVMDQLWRULDODQGVDQLWDWLRQPDWHULDOVVXWXUH
DQGHQGRPHFKDQLFDOSURGXFWVDQGSULYDWHODEHOJRRGV
$ZDUGHGVXSSOLHUV
6XSSOLHU
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
$PHULFDQ
0HGLFDO
'HSRW
$NKLO
$JUDZDO
DNKLODJUDZDO#DPHULFDQ
GHSRWFRP
5\DQ
UEXUNH#EXIIDORKRVSLWDOFRP
%XUNH
%RE
EREJORYHU#FDUGLQDOKHDOWKF
&DUGLQDO
RP
*ORYHU
.U\VWLQD
&ODIOLQ
FRQWUDFWV#FODIOLQFRP
$OPRQ
%XGG\
&RQFRUGDQFH
EZHUW#FRQFRUGDQFHKVFRP
:HUW
&KULVWLDQ
FKULVWLDQIORKU#KHQU\VFKHLQ
+HQU\6FKHLQ
FRP
)ORKU
&DWK\
FDWK\GLUQEHUJHU#PFNHVVRQ
0F.HVVRQ
FRP
'LUQEHUJHU
7HUUL
06'
WWUDYHUV#PVGLVWULEXWRUVFRP
7UDYHUV
H[W
0DUN
0HGOLQH
PSDUU\#PHGOLQHFRP
3DUU\
2ZHQV &RSH
FRSHVDQGHUV#RZHQV
0LQRU
PLQRUFRP
6DQGHUV
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI2FWREHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
x
x
x
x
([SLULQJ
33'6
33'6
33'6
33'6
33'6
33'6
33'6
33'6
33'6
33'6
33'6
33'6
33'6
33'6
33'6
33'6
33'6
33'6
33'6
33'6
33'6
33'6
%XIIDOR
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
1HZ
$PHULFDQ0HGLFDO'HSRWLVDPLQRULW\RZQHG
EXVLQHVV 0%( %XIIDOR+RVSLWDO6XSSO\DQG&ODIOLQ
DUHDVPDOOEXVLQHVVHQWHUSULVH 6%( .UHLVHUV,QF6HQFD0HGLFDODQG0LGZHVW0HGLFDO
6XSSO\&RPHUJHGZLWK&RQFRUGDQFH
3URIHVVLRQDO+RVSLWDO6XSSO\,QF 33'6 ZDV
DFTXLUHGE\0HGOLQHLQ
7KHFXUUHQWDJUHHPHQWVZLWK$SROOR6DIHW\
33'6 &XVWRPL]HG86$//& 33'6
'HNUR\IW0HW]DQG&R,QF 33'6
(./$&R 33'6 0LGODQG
0HGLFDO6XSSO\ 33'6 DQG366:RUOG
0HGLFDO,QF 33'6 H[SLUH'HFHPEHU
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') LVUHTXLUHG
DW7LHURUKLJKHUZLWKGLVWULEXWRUVRIIHULQJPRUHWKDQRQHWLHU
x &DUGLQDODQG&ODIOLQUHTXLUHD30')IRUDOOWLHUV
x 06'RIIHUVDVLQJOH3UHPLHUWLHU
(OHFWURQLFSULFHDFWLYDWLRQLVQRWDYDLODEOHIRUWKHVH
DJUHHPHQWV
1RDFWLRQLVUHTXLUHGIRUPHPEHUVXVLQJORFDOO\QHJRWLDWHG
PHPEHUDJUHHPHQWVXQWLOLWVQDWXUDOH[SLUDWLRQGDWH
&DUGLQDO0HGOLQHDQG2ZHQV 0LQRUDOOKDYHFRPPLWPHQW
OHYHOUHTXLUHPHQWVIRUSULPDU\OHYHOGLVWULEXWLRQ
x &DUGLQDOUHTXLUHVDQQXDOSXUFKDVHFRPPLWPHQWRIDWOHDVWSHUFHQWRUPHGVXUJSURGXFWVDQGDWOHDVW
SHUFHQWIRUVXWXUHDQGHQGRPHFKDQLFDOSURGXFWV,IPHPEHUIDLOVWRXVH&DUGLQDODVLWVSULPDU\
GLVWULEXWRUIRUVXWXUHDQGHQGRPHFKDQLFDOSURGXFWV&DUGLQDOPD\LQFUHDVHWKHFRVWSOXVPDUNXSRQ
PHGVXUJFRQWUDFWHGSURGXFWVE\DQDGGLWLRQDOSHUFHQW
x 0HGOLQHUHTXLUHVDPHPEHUWRSXUFKDVHSHUFHQWRIFXUUHQWSURGXFWVSHQGWKURXJK0HGOLQHDQG
SHUFHQWRIVXWXUHDQGHQGRPHFKDQLFDOSURGXFWVRUFXVWRPSURFHGXUHWUD\V &37V 35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
0HGLFDODQG6XUJLFDO3URGXFWV'LVWULEXWLRQ(IIHFWLYH-DQXDU\
([SLUHV'HFHPEHU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV FRQWLQXHG x
2ZHQV 0LQRUUHTXLUHVDPHPEHUWRSXUFKDVHSHUFHQWRIWKHLUWUDGLWLRQDOPHGVXUJSURGXFWV
LQFOXGLQJVXWXUHDQGHQGRPHFKDQLFDOSURGXFWVDQGFXVWRPSURFHGXUHWUD\V &37V 2ZHQV 0LQRUFDQ
EHXVHGDVDVHFRQGDU\GLVWULEXWRUIRUFRPPLWWHGSURGXFWFDWHJRULHVSURGXFWOLQHVWRWDOLQJDWOHDVW
SHUPRQWKIRUDQDGGLWLRQDOPDUNXSRISHUFHQWIRUVXWXUHDQGHQGRPHFKDQLFDOSURGXFWVDQG
SHUFHQWIRUDOORWKHUSURGXFWV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRI
IDFLOLWLHVZLWKDOOGLVWULEXWRUVH[FHSW0F.HVVRQDQG06'
x 0F.HVVRQDOORZVDJJUHJDWLRQIRUPHPEHUVZKRRZQRURSHUDWHPXOWLIDFLOLW\V\VWHPVDQGKDYHWKHDELOLW\WR
FRRUGLQDWHSXUFKDVLQJGHFLVLRQ
x $JJUHJDWLRQLVQRWDSSOLFDEOHIRU06'GXHWRDVLQJOHWLHURIIHULQJ
2WKHUNH\YDOXHDQGWHUPV
x
x
&RVWSOXVPDUNXSSHUFHQWDJHVDUHILUPIRUWKHWHUPRIWKHDJUHHPHQW
$OOGLVWULEXWRUVDOORZIRUPHPEHUVWRORFDOO\QHJRWLDWHWKHLUFRVWSOXVPDUNXSSHUFHQWDJHV
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
'LVWULEXWLRQFRPSDQLRQZRUNERRN$GHWDLOHGVSUHDGVKHHWWKDWDOORZVXVHUVWRFRPSDUHGLVWULEXWRUWLHUVWHUPV
UHVSRQVHVWR3UHPLHU¶V5),TXHVWLRQVDQGDOLJQPHQWZLWKWKH6WUDWHJLF$GYLVRU\&RPPLWWHH¶VVWUDWHJLFWHUPVDQG
FRQGLWLRQV
9LGHRV0HPEHUVRI3UHPLHU¶V6WUDWHJLF$GYLVRU\&RPPLWWHHDQGVWDIISURYLGHGWKHLULQVLJKWRQFKDOOHQJHVRI
GLVWULEXWLRQEHVWSUDFWLFHVDQGKRZWKHQHZ3UHPLHUDJUHHPHQWVKDYHEHHQUHGHVLJQHGWRDGGUHVVWKHVH
LVVXHV3OHDVHQRWHWKDWD3UHPLHU&RQQHFWXVHUQDPHDQGSDVVZRUGLVUHTXLUHGWRYLHZWKHYLGHRV
5HODWHGFDWHJRU\
x 6XWXUHDQG(QGRPHFKDQLFDO'LVWULEXWLRQ'LVWULEXWLRQVHUYLFHVIRUVXWXUHDQGHQGRPHFKDQLFDOSURGXFWVLQWKH
DFXWHVXUJHU\FHQWHUORQJWHUPFDUHDQGKRPHFDUHVHWWLQJV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
05,$QFLOODU\(TXLSPHQWDQG&RLOV
(IIHFWLYH)HEUXDU\WKURXJK-DQXDU\
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
7KLVFDWHJRU\LQFOXGHVDQFLOODU\HTXLSPHQWVSHFLILFDOO\GHVLJQHGIRUXVHLQ
PDJQHWLFUHVRQDQFHLPDJLQJ 05, SURFHGXUHVVXFKDVSDWLHQWPRQLWRULQJ
HTXLSPHQWLQIXVLRQSXPSVIHUURXVGHWHFWLRQGHYLFHVSDWLHQW
HQWHUWDLQPHQWFRPPXQLFDWLRQV\VWHPVUDGLRIUHTXHQF\ 5) VXUIDFHFRLOV
UHODWHGVRIWZDUHDQGSRVLWLRQLQJGHYLFHVDQGSDWLHQWWUDQVIHUGHYLFHV
3KLOLSV 7KLVZDVSUHYLRXVO\VRXUFHGDV05,6DIH$X[LOLDU\(TXLSPHQWDQG&RLOV
,QYLYR3KLOLSV¶FRQWUDFWRIIHULQJLQFOXGHVSDWLHQWPRQLWRULQJDQGUHODWHG
GLVSRVDEOHVSDWLHQWHQWHUWDLQPHQWDQGIXQFWLRQDO05VROXWLRQVVXUIDFH
FRLOVIHUURXVGHWHFWLRQDQG05,VRIWZDUH,UDGLPHG¶VFRQWUDFWRIIHULQJ
LQFOXGHVLQIXVLRQSXPSVDFFHVVRULHVDQGUHODWHGGLVSRVDEOHV
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
33,0
33,0
33,0
33,0
7KHFXUUHQWDJUHHPHQWZLWK05,DXGLR 33,0
H[SLUHV-DQXDU\
$6&(1'
7KHUHLVQR$6&(1'DZDUGLQWKLVFDWHJRU\
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHU
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWKERWK
VXSSOLHUV,QYLYR3KLOLSVUHTXLUHV*32IDFLOLWLHVWRLQGHSHQGHQWO\FRPPLWWRWKHPDUNHWVKDUHUHTXLUHGE\WKHWLHU
&ODVVRIWUDGH
x
x
,QYLYR3KLOLSV¶VDJUHHPHQWLVDYDLODEOHWRDFXWHFDUHDQGLPDJLQJFHQWHUV6HH$SSHQGL[$IRUPRUHGHWDLOV
,UDGLPHG¶VDJUHHPHQWLVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKERWKVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOV
x ,QYLYR3KLOLSV¶QHZDJUHHPHQWSULFLQJRIIHUVDSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x ,UDGLPHG¶VQHZDJUHHPHQWSULFLQJKDVDSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
$YDLODEOHGLUHFW,QYLYR3KLOLSVDQG,UDGLPHG
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
,QYLYR3KLOLSV+HDOWKFDUHDGLYLVLRQRI3KLOLSV1RUWK$PHULFD//&$GDP0DUWLQDGDPPDUWLQ#SKLOLSVFRP
,UDGLPHG&RUS%UHQW-RKQVRQEMRKQVRQ#LUDGLPHGFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI1RYHPEHU)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\
&KDLQ$GYLVRU
5HODWHGFDWHJRULHV
x
x
x
x
$QHVWKHVLD(TXLSPHQW$FFHVVRULHVDQG6XSSOLHV$QHVWKHVLDPDFKLQHVDQGDFFHVVRULHVGHVLJQHGWRGLVSHQVHD
PL[WXUHRIJDVHVDQGYDSRUVXVHGWRFRQWURODSDWLHQW¶VOHYHORIFRQVFLRXVQHVVGXULQJVXUJLFDOSURFHGXUHV
&RQWUDVW0HGLD05&RQWUDVWDJHQWVXVHGWRLPSURYHWKHYLVLELOLW\RILQWHUQDOERG\VWUXFWXUHVLQ05,
0DJQHWLF5HVRQDQFH,PDJLQJ05,HTXLSPHQWDQGVHUYLFHDJUHHPHQWV
9HQWLODWRUV,QWHQVLYHFDUHKLJKIUHTXHQF\RVFLOODWRU\WUDQVSRUWSRUWDEOH05,FRQGLWLRQDODQGPDVVFDVXDOW\YHQWLODWRUV
DVVRFLDWHGDFFHVVRULHVDQGSURSULHWDU\FLUFXLWV
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
1RQLQYDVLYH&DUGLRORJ\(TXLSPHQW
(IIHFWLYH-XQHWKURXJK0D\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVIRXUVXEFDWHJRULHVWRDVVLVWLQWKHDVVHVVPHQWDQG
GLDJQRVLVRIFDUGLDFIXQFWLRQHOHFWURFDUGLRJUDP (&* PDFKLQHVDQGFDUWV
(&*GDWDPDQDJHPHQW+ROWHUPRQLWRULQJDQGVWUHVVWHVWLQJ
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKDOOVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
33&$
33&$
33&$
33&$
33&$
1HZ
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
1HZ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWK*(
33&$
6SDFHODEVDQG9\DLUH
x 7KHDJJUHJDWLRQSULFLQJRSWLRQZLWK9\DLUHDSSOLHVWRWKH
33&$ 33&$
SXUFKDVHYROXPHRIDOOIDFLOLWLHVWKDWGHVLJQDWHWKH
XQGHUVLJQHGPHPEHUDVDWRSRUGLUHFWSDUHQWRQWKH
33&$ 33&$
PHPEHUVKLSURVWHUDQGDQ\IDFLOLW\OLVWHGRQ([KLELW$,Q
WKHHYHQWDPHPEHUZLWKLQDQDJJUHJDWLRQJURXSGRHVQRW
XVH9\DLUHDVWKHLUSULPDU\VXSSOLHURISK\VLRORJLFDO
$6&(1'7KHUHLVQR$6&(1'DZDUGLQWKLV
PRQLWRULQJV\VWHPSURGXFWV9\DLUHPD\PRYHWKHPHPEHU
FDWHJRU\
WRWKHDSSURSULDWHWLHUEDVHGRQWKHPHPEHU¶VLQGLYLGXDO
LQFRPH
$JJUHJDWLRQZLWK3KLOLSVLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV
$JJUHJDWLRQZLWK0RUWDUDDQG:HOFK$OO\QLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVXQGHUFRPPRQRZQHUVKLSRUFRQWURORQO\
DFXWHFDUHIDFLOLWLHVPD\DJJUHJDWHWKHSXUFKDVHYROXPHRIWKHLURZQHGRUFRQWUROOHGIDFLOLWLHV QRDPEXODWRU\FDUH
PHPEHUVWKDWDUHQRWRZQHGRUFRQWUROOHGPD\LQGHSHQGHQWO\DJJUHJDWHWKHSXUFKDVHYROXPHRIWKHLURZQHGRU
FRQWUROOHGIDFLOLWLHV &ODVVRIWUDGH
x
x
x
$JUHHPHQWVZLWK*(0RUWDUDDQG:HOFK$OO\QDUHDYDLODEOHWRVHOHFWDFXWHFDUHDQGQRQDFXWHKHDOWKFDUH IDFLOLWLHV6HH
$SSHQGL[$LQWKHYDOXHDQDO\VLVWRRONLWRU([KLELW%IRUVSHFLILFFODVVRIWUDGHDYDLODELOLW\ZLWK0RUWDUDDQG$SSHQGL[%
LQWKHYDOXHDQDO\VLVWRRONLWRU([KLELW%IRUVSHFLILFFODVVRIWUDGHDYDLODELOLW\ZLWK:HOFK$OO\Q
$JUHHPHQWVZLWK3KLOLSVDQG6SDFHODEVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
x 2QO\OLFHQVHGFOLQLFLDQVPD\RUGHUDQGXVHPHGLFDOGHYLFHSURGXFWVZLWK6SDFHODEV
7KHDJUHHPHQWZLWK9\DLUHLVDYDLODEOHWR86KHDOWKFDUHSURYLGHUVQRWLQFOXGLQJUHWDLOSKDUPDFLHVRWKHUUHWDLODQG
FRQWUDFWUHVHDUFKRUJDQL]DWLRQV &52V 2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOV
x *(¶VQHZDJUHHPHQWSULFLQJKDVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 0RUWDUD¶VQHZDJUHHPHQWSULFLQJKDVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 9\DLUH¶VQHZDJUHHPHQWSULFLQJRIIHUVDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x :HOFK$OO\Q¶VQHZDJUHHPHQWSULFLQJKDVDSHUFHQWLQFUHDVHRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
SULFLQJ
x 3ULFLQJVFHQDULRVUHYHDOWKHORZFRVWVXSSOLHUYDULHVE\VFHQDULR6HHWKHILQDQFLDODQDO\VLVVHFWLRQRIWKHYDOXH
DQDO\VLVWRRONLWIRUGHWDLOV
6SDFHODEVKDVDODUJHRUGHUWKUHVKROGRI
$YDLODEOHWKURXJKGLVWULEXWLRQ0RUWDUD3KLOLSV9\DLUH:HOFK$OO\Q
$YDLODEOHGLUHFW*(0RUWDUD3KLOLSV6SDFHODEV9\DLUH:HOFK$OO\Q
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
1RQLQYDVLYH&DUGLRORJ\(TXLSPHQW
(IIHFWLYH-XQHWKURXJK0D\
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
x
x
x
x
*HQHUDO(OHFWULF&RPSDQ\E\DQGWKURXJKLWV*(+HDOWKFDUH'LYLVLRQ/LQGVD\$UDQKD
OLQGVD\DUDQKD#JHFRP
0RUWDUD,QVWUXPHQW,QF.LUN.LQGHUNLUNNLQGHU#PRUWDUDFRP
3KLOLSV+HDOWKFDUHDGLYLVLRQRI3KLOLSV(OHFWURQLFV1RUWK$PHULFD&RUSRUDWLRQ5RQ6FLHSNR
URQVFLHSNR#SKLOLSVFRP
6SDFHODEV+HDOWKFDUH//&1HLOO0RRUHQHLOOPRRUH#VSDFHODEVFRP
9\DLUH0HGLFDO,QF7HUU\%U\DQWWHUU\EU\DQW#Y\DLUHFRP
:HOFK$OO\Q,QF5LFN+ROPHVULFNKROPHV#KLOOURPFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
5HODWHGFDWHJRULHV
x
x
(&*(OHFWRUGHV&DEOHV/HDG:LUHVDQG'HILEULOODWRU3DGV6HQVRUVDQGDFFHVVRULHVXVHGLQFDUGLRORJ\UHODWHG
SK\VLRORJLFDOWUDFLQJVWRGHWHFWDQGUHSOD\LQIRUPDWLRQWR(&*PRQLWRUV
,QYDVLYH&DUGLRORJ\(TXLSPHQW&DWKHWHUL]DWLRQODEKHPRG\QDPLFPRQLWRULQJV\VWHPVDQGHOHFWURSK\VLRORJ\PRQLWRULQJ
V\VWHPV
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLV
GRFXPHQWLVXQDEOHWREHHGLWHG
([FHOZRUNERRN$FRPSDQLRQGRFXPHQWWKDWSURYLGHVGHWDLOVRQWKHFULWLFDOVSHFLILFDWLRQVWLHUVDQGWHUPVDQGFRQGLWLRQV
IRUHDFKVXSSOLHUGXHWRWKHQXPEHURIDZDUGHGVXSSOLHUVLQWKLVFDWHJRU\
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
1RQLQYDVLYH9HQWLODWRUV (IIHFWLYH-XO\
([SLUHV-XQH
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVFRQWLQXRXVDLUZD\SUHVVXUH &3$3 XQLWVEL
OHYHO EL3$3 XQLWVDQGWKHDVVRFLDWHGFRQVXPDEOHV PDVNVFDQQXODV
DQGWXELQJ 6XSSOLHU
&ODVVRIWUDGH
x
x
3KLOLSV¶DJUHHPHQWLVDYDLODEOHWRDFXWHFDUHFRQWLQXXPRI
FDUHDQG3UHPLHU5($&+PHPEHUV
5HV0HG¶VDJUHHPHQWLVDOORZHGIRUIDFLOLWLHVGRLQJEXVLQHVVLQ
WKHDFXWHKRVSLWDOPDUNHWWKDWRQO\WUHDWLQSDWLHQWV
3KLOLSV
3XOPRG\QH
5HV0HG
5RQ
6FLHSNR
5REHUW
%HUQ\
%U\DQ
%UDWFKHU
URQVFLHSNR#SKLOLSVFRP
EEHUQ\#SXOPRG\QHFRP
EU\DQEUDWFKHU#UHVPHGFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI6HSWHPEHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK
5HV0HG
$30')3$LVQRWUHTXLUHGZLWK3KLOLSVGLHWRDVLQJOHWLHU
RIIHULQJ3KLOLSVGRHVUHTXLUH([KLELW.*32'HFODUDWLRQ)RUP
XQOHVVWKHIRUPKDVEHHQSUHYLRXVO\VXEPLWWHG
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
1HZ
([SLULQJ
33$&
33$&
6'00
1HZ
33$&
1HZ
3XOPRG\QHLVD6(('6VXSSOLHUVPDOO
EXVLQHVVHQWHUSULVH 6%( HIIHFWLYH)HEUXDU\
)LQDQFLDOFRQVLGHUDWLRQV
x ,QVWDOODWLRQFRVWV
x 0LQLPXPRUGHUV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 1RQLQYDVLYHYHQWLODWRUVDUH
UHFRPPHQGHGWRSUHYHQW
YHQWLODWRUDVVRFLDWHGLQIHFWLRQV
5RDGEORFNVWRFRQYHUVLRQ
x 'LVSRVDEOHV PDVNVWXELQJ
FDQQXODV PD\EHSURSULHWDU\WR
YHQWLODWRUV
x &DSLWDOEXGJHWFRQVWUDLQWV
x &ODVVRIWUDGHUHVWULFWLRQV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXS
SXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
ZLWK5HV0HG
$JJUHJDWLRQLVQRWDSSOLFDEOHZLWK3KLOLSVGXHWRDVLQJOHWLHURIIHULQJ
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKERWKVXSSOLHUV
3KLOLSV¶QHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRWKHH[SLULQJDJUHHPHQWSULFLQJ
3KLOLSV¶FRQVXPDEOHVRUGHUVOHVVWKDQPXVWEHSODFHGGLUHFWO\WKURXJKWKH3KLOLSVH6WRUHYLD(',
$KDQGOLQJIHHDSSOLHVWR5HV0HGRUGHUVOHVVWKDQ
$YDLODEOHGLUHFW3KLOLSV5HV0HG
$YDLODEOHWKURXJKGLVWULEXWLRQ3KLOLSV
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
1RQLQYDVLYH9HQWLODWRUV (IIHFWLYH-XO\
([SLUHV-XQH
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
6(('6XSGDWHVXPPDU\$3')XSGDWHGRFXPHQWSURYLGLQJLQIRUPDWLRQDERXW6(('6VXSSOLHU V DGGHGWRWKH
FDWHJRU\7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRULHV
x
x
x
$FWLYH+XPLGLILFDWLRQ'HYLFHVDQG$FFHVVRULHV+XPLGLILFDWLRQGHYLFHVWKDWKXPLGLI\ZDUPDQGVRPHWLPHV
ILOWHUJDVEHLQJGHOLYHUHGWRWKHSDWLHQWGXULQJYHQWLODWLRQ
5HVSLUDWRU\7KHUDS\3URGXFWV1RQYHQWHGPDVNV&3$3DQGELOHYHOPDVNV
9HQWLODWRUV,QWHQVLYHFDUHKLJKIUHTXHQF\RVFLOODWRU\WUDQVSRUWSRUWDEOHDQGPDVVFDVXDOW\YHQWLODWRUV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
1XUVH&DOO6\VWHPV
(IIHFWLYH$SULOWKURXJK$SULO
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVKDUGZDUHVRIWZDUHDQGDFFHVVRULHV DORQJZLWKWKH
SURIHVVLRQDOVHUYLFHVQHHGHGIRULQVWDOODWLRQDQGVXSSRUW XVHGWRSURYLGH
HOHFWURQLFFRPPXQLFDWLRQEHWZHHQSDWLHQWVDQGFDUHJLYHUVLQERWKWKHDFXWH
FDUHDQGFRQWLQXXPRIFDUHHQYLURQPHQWV$GYDQFHGRSWLRQDOFRPSRQHQWV
PLJKWLQFOXGHDOHUWVKDOOZD\DOHUWOLJKWLQJDQGGHYLFHLQWHJUDWLRQZLWKRWKHU
ZLUHOHVVFRPPXQLFDWLRQWHFKQRORJLHV
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK-HURQ
5DXODQGDQG:HVW&RP
$30')3$LVUHTXLUHGDWDOOWLHUVZLWK+LOO5RP
+LOO5RPUHTXLUHVDVHSDUDWHVRIWZDUHOLFHQVHDJUHHPHQW
$VHSDUDWHPHPEHUDJUHHPHQWPD\EHUHTXLUHGZLWK-HURQ
5DXODQGDQG:HVW&RP
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
33,7
33,7
33,7
1HZ
33,7
33,7
33,7
33,7
-HURQ5DXODQGDQG:HVW&RPDUHDVPDOOEXVLQHVV
HQWHUSULVHV 6%(V 1RWH3UHPLHUUHVHUYHVWKHULJKWWRDGGVXSSOLHUVDW
DQ\WLPHGXULQJWKHFRQWUDFWLQJF\FOH
$6&(1'7KHUHLVQR$6&(1'DZDUGLQWKLV
FDWHJRU\
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
ZLWK-HURQDQG:HVW&RP
+LOO5RPDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVZLWKWKHDELOLW\WRLQIOXHQFHSXUFKDVLQJ
GHFLVLRQV
5DXODQGGRHVQRWDOORZDJJUHJDWLRQ
&ODVVRIWUDGH
x
x
x
-HURQDQG5DXODQGDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
+LOO5RPLVDYDLODEOHWRDFXWHFDUHDQGORQJWHUPFDUHIDFLOLWLHVORFDWHGLQWKHFRQWLJXRXV8QLWHG6WDWHV$ODVNDDQG
+DZDLL
:HVW&RPLVDYDLODEOHWRDFXWHFDUHSURYLGHUVRQO\
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWK-HURQ5DXODQGDQG:HVW&RP
x +LOO5RPSULFLQJLVILUPXQWLO0DUFKWKHUHDIWHUSULFHVPD\LQFUHDVHRQHWLPHSHUFRQWUDFW\HDUXSWR
SHUFHQWLQDJJUHJDWHRUFKDQJHLQ&3,ZKLFKHYHULVOHVV
)LQDQFLDODQDO\VLVUHYHDOV
x +LOO5RP¶VQHZDJUHHPHQWSULFLQJKDVDSHUFHQWLQFUHDVHDFURVVDOOWLHUVFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
SULFLQJ
x 5DXODQG¶VQHZDJUHHPHQWSULFLQJKDVDSHUFHQWLQFUHDVHDFURVVDOOWLHUVFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
SULFLQJ
x :HVW&RP¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJZKLFKWKHH[FHSWLRQRI
SURGXFWQXPEHU7KLVVRIWZDUHXSJUDGHKDVDSHUFHQWSULFHLQFUHDVHFRPSDUHGWRWKHH[SLULQJ
DJUHHPHQW
x -HURQLVWKHORZFRVWVXSSOLHUIRUWKHSULFLQJVFHQDULRV
$YDLODEOHWKURXJKGLVWULEXWLRQ+LOO5RP-HURQ5DXODQGDQG:HVW&RP
$YDLODEOHGLUHFW+LOO5RP-HURQ5DXODQGDQG:HVW&RP
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
1XUVH&DOO6\VWHPV
(IIHFWLYH$SULOWKURXJK$SULO
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
x
x
+LOO5RP&RPSDQ\,QF5LFN+ROPHVULFNKROPHV#KLOOURPFRP
-HURQ(OHFWURQLF6\VWHPV,QF(ULFND%DUDQHEDUDQ#MHURQFRP
5DXODQG%RUJ&RUSRUDWLRQ7RQ\+DFNHWWWRQ\KDFNHWW#DPHWHNFRP
:HVW&RP1XUVH&DOO6\VWHPV,QF0DUF3HWHUV[PSHWHUV#ZHVWFDOOFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0D\)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
5HODWHGFDWHJRULHV
x
x
3K\VLRORJLFDO0RQLWRULQJ6\VWHPV6\VWHPVWKDWFRQWLQXRXVO\PRQLWRUDSDWLHQW¶VSK\VLRORJLFSDUDPHWHUV
VXFKDVUHVSLUDWRU\UDWHERG\WHPSHUDWXUHQRQLQYDVLYHEORRGSUHVVXUHDQGLQYDVLYHEORRGSUHVVXUH
7HOHYLVLRQ6\VWHPVDQG6HUYLFHV+HDOWKFDUHJUDGHDQGFRPPHUFLDOJUDGHWHOHYLVLRQV\VWHPVDQG
DFFHVVRULHV LQFOXGLQJSLOORZVSHDNHUVZKLFKLQWHJUDWHZLWKQXUVHFDOOV\VWHPV )XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLV
GRFXPHQWLVXQDEOHWREHHGLWHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
256DIHW\3URGXFWV (IIHFWLYH$XJXVW
([SLUHV2FWREHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\FRQVLVWVRISURGXFWVXVHGLQWKHRSHUDWLQJURRPWR
SURWHFW25VWDIIDQGSDWLHQWVIURPSRWHQWLDOLQMXU\
$ZDUGHGVXSSOLHUV
6XSSOLHU
3URGXFWVLQWKLVFDWHJRU\ZHUHSUHYLRXVO\LQFOXGHGLQWKH25
$FFHVVRULHVFDWHJRU\
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFRQWLQXXPRIFDUHDQG3UHPLHU
5($&+PHPEHUV
-DVRQ
MDVRQFDUULQJWRQ#DQVHOOFR
&DUULQJWRQ
P
0DWW
'H5R\DO
PVSDOGLQJ#GHUR\DOFRP
6SDOGLQJ
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI6HSWHPEHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
$QVHOO
1HZ
([SLULQJ
3325
1HZ
3325
3325
7KHUHLVQR$6&(1'DZDUGLQWKLVFDWHJRU\
8SGDWH-XQH$OOFRQWUDFWVLQWKH25
6DIHW\3URGXFWVFDWHJRU\KDYHEHHQ
H[WHQGHGWKUHHPRQWKVDQGQRZH[SLUH
2FWREHU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
(OHFWURQLFSULFHDFWLYDWLRQ 3$ RUD3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') LVUHTXLUHGIRU7LHUDQG
KLJKHUIRUERWKVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQGHVWDEOLVKHGQHWZRUNV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKERWKVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOVWKDW'H5R\DOLVWKHORZFRVWVXSSOLHU
$QVHOORIIHUVDQHDUO\SD\PHQWGLVFRXQWRISHUFHQWIRUSD\PHQWVZLWKLQGD\V
'H5R\DO¶VVKLSSLQJWHUPVDUHEDVHGRQLIWKHRUGHULVPRUHRUOHVVWKDQDQGLIWKHSURGXFWVDUH
EHLQJVKLSSHGZLWKLQWKHFRQWLJXRXV8QLWHG6WDWHV
$YDLODEOHGLUHFW$QVHOO'H5R\DO
$YDLODEOHWKURXJKGLVWULEXWLRQ$QVHOO'H5R\DO
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQG
FXVWRPL]DWLRQIRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHU
UHVRXUFHVPD\EHEURNHQ7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
&URVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
5HODWHGFDWHJRULHV
x
25$FFHVVRULHV3URGXFWVXVHGLQWKHRSHUDWLQJURRPLQFOXGLQJLWHPVIRULQVWUXPHQWSURWHFWLRQDQGQLFH
DFFHVVRULHV
x 253DWLHQW3RVLWLRQLQJ3URGXFWV3UHIRUPHGIRDPRUJHOSRVLWLRQHUVWKDWDLGLQSDWLHQWSRVLWLRQLQJDQG
SUHYHQWLRQRISUHVVXUHLQMXULHVGXULQJVXUJLFDOSURFHGXUHV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3DWLHQW/LIWV
(IIHFWLYH$XJXVWWKURXJK-XO\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVPHFKDQLFDOGHYLFHVXVHGWRDVVLVWKHDOWKFDUH
ZRUNHUVLQWUDQVIHUULQJSDWLHQWVIURPRQHORFDWLRQWRDQRWKHUZKHQDSDWLHQW
LVXQDEOHWRDFWLYHO\DVVLVWZLWKWKHWUDQVIHURUFRPSOHWHWKHWUDQVIHURQWKHLU
RZQ
7KLVFDWHJRU\ZDVSUHYLRXVO\VRXUFHGDV3DWLHQW/LIWVDQG/DWHUDO7UDQVIHU
'HYLFHV3DWLHQWODWHUDOWUDQVIHUGHYLFHVDUHQRZORFDWHGLQWKH3DWLHQW
/DWHUDO7UDQVIHU'HYLFHVFDWHJRU\
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
3300 3300
3300 3300
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKDOOVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWK$UMR(=
:D\+DQGLFDUH+XPDQ&DUH-RHUQV0HGOLQH72//26DQG
:\¶(DVW0HGLFDO
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVRQO\ZLWK+LOO5RP
&ODVVRIWUDGH
x
x
$JUHHPHQWVZLWK(=:D\+DQGLFDUH+LOO5RP+XPDQ&DUH
-RHUQV0HGOLQH72//26DQG:\¶(DVW0HGLFDODUHDYDLODEOHWR
DFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
7KHDJUHHPHQWZLWK$UMRLVDYDLODEOHWRDFXWHFDUHDQGQRQDFXWH
KHDOWKFDUHIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
3300 3300
3300
1HZ
3300
1HZ
3300 3300
3300
1HZ
3300 3300
3300 3300
(=:D\+DQGLFDUH+XPDQ&DUHDQG:\¶(DVWDUH
VPDOOEXVLQHVVHQWHUSULVHV 6%(V $6&(1'7KHUHLVQR$6&(1'DZDUGLQWKLV
FDWHJRU\
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKDOOVXSSOLHUV
)LQDQFLDODQDO\VLVUHYHDOV
x $UMR¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x (=:D\¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x +DQGLFDUH¶VQHZDJUHHPHQWSULFLQJKDVDSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x -RHUQV¶QHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 72//26¶QHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x :\¶(DVW0HGLFDO¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 0HGOLQHLVWKHORZFRVWVXSSOLHUIRUPRELOHOLIWV
x +DQGLFDUHLVWKHORZFRVWVXSSOLHUIRUFHLOLQJOLIWV
$UMRRIIHUVGHPRQVWUDWRUSURGXFWVZLWKGLVFRXQWHGSXUFKDVHRSWLRQDQGFOLQLFDOZHELQDUVDVYDOXHDGGV
+DQGLFDUHRIIHUVHOLJLEOHPHPEHUVDXWRPDWLF7LHUGHVLJQDWLRQDVDYDOXHDGG
+XPDQ&DUHRIIHUVFHLOLQJOLIWLQVWDOODWLRQGUDZLQJVELRPHGLFDOWUDLQLQJIRUHOLJLEOHPHPEHUVRQVLWHDVVLVWDQFHDXWRPDWLF
7LHUGHVLJQDWLRQIRUHOLJLEOHPHPEHUVDQGDSXUFKDVHYROXPHUHEDWHDVYDOXHDGGV
72//26RIIHUVDGD\WHVWSURJUDPVDIHSDWLHQWKDQGOLQJDVVHVVPHQWDFFHVVWRWKH$WWDLQLDSRUWDODSUHIHUUHG
YHQGRUDJUHHPHQWGLVFRXQWPDLQWHQDQFHNLWVZLWKDEDFNXSPRWRUDQGWUDFNDQGDODUJHV\VWHPGLVFRXQWDVYDOXHDGGV
:\¶(DVW0HGLFDORIIHUVFRPSOLPHQWDU\SURGXFWVZLWKWKHSXUFKDVHRIWKH$HULDO0D[LPXP$VVLVWSDWLHQWOLIWRU6XPPLW
0RGHUDWH$VVLVWVWDQGLQJDLGDVYDOXHDGGV
$YDLODEOHWKURXJKGLVWULEXWLRQ(=:D\+DQGLFDUH-RHUQV0HGOLQH72//26:\¶(DVW0HGLFDO
$YDLODEOHGLUHFW$UMR(=:D\+DQGLFDUH+LOO5RP+XPDQ&DUH-RHUQV0HGOLQH72//26:\¶(DVW0HGLFDO
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3DWLHQW/LIWV
(IIHFWLYH$XJXVWWKURXJK-XO\
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
x
x
x
x
x
x
x
$UMR,QF6WHYHQ1HJULVWHYHQQHJUL#DUMRFRP
(=:D\,QF0DU\/DQGKXLVPODQGKXLV#H]OLIWVFRP
+DQGLFDUH86$,QF-RKQ+DFNEDUWMRKQKDFNEDUW#KDQGLFDUHFRP
+LOO5RP&RPSDQ\,QF5LFN+ROPHVULFNKROPHV#KLOOURPFRP
+XPDQ&DUH86$,QFD7H[DV&RUSRUDWLRQ0DQXHO7RUUHVPDQXHOWRUUHV#KXPDQFDUHJURXSFRP
-RHUQV+HDOWKFDUH//&&ROOLQ6DQGHUV[FROOLQVDQGHUV#MRHUQVFRP
0HGOLQH,QGXVWULHV,QF0DUN3DUU\PSDUU\#PHGOLQHFRP
2QWDULR/LPLWHGGED72//26&KULVWLQD0RGHVNLFPRGHVNL#WROORVFRP
:\¶(DVW0HGLFDO6XVDQ$KPDQQVXVDQD#Z\HDVWPHGFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0D\)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
5HODWHGFDWHJRULHV
x
x
x
x
x
0RELOLW\$LGV&DQHVZDONHUVDQGEDWKDQGWRLOHWDVVLVWV
3DWLHQW%HGV0DWWUHVVHVDQG7KHUDSHXWLF6XUIDFHV±3XUFKDVH%HGIUDPHVUHSODFHPHQWPDWWUHVVHVPDWWUHVVRYHUOD\V
DQGWKHUDSHXWLFVXUIDFHVIRUFULWLFDOFDUHEHGVELUWKLQJEHGVORZEHGVPHGLFDOVXUJLFDOEHGVEDULDWULFEHGVDQG
DFFHVVRULHVIRUSXUFKDVH
3DWLHQW%HGV0DWWUHVVHVDQG7KHUDSHXWLF6XUIDFHV±5HQWDO%HGIUDPHVUHSODFHPHQWPDWWUHVVHVPDWWUHVVRYHUOD\V
DQGWKHUDSHXWLFVXUIDFHVIRUFULWLFDOFDUHEHGVELUWKLQJEHGVORZEHGVPHGLFDOVXUJLFDOEHGVEDULDWULFEHGVDQG
DFFHVVRULHVIRUUHQWDO
3DWLHQW/DWHUDO7UDQVIHU'HYLFHV1RQPHFKDQLFDOODWHUDOSDWLHQWWUDQVIHUSURGXFWVVSHFLILFDOO\GHVLJQHGWRWUDQVIHU
SDWLHQWVVLGHWRVLGHIURPRQHORFDWLRQWRDQRWKHU
3K\VLFDO7KHUDS\3URGXFWVDQG([HUFLVH(TXLSPHQW3K\VLFDOWKHUDS\SURGXFWVDQGH[HUFLVHHTXLSPHQWXVHGWRSURYLGH
WKHUDS\DLPHGDWGHYHORSLQJPDLQWDLQLQJDQGUHVWRULQJPD[LPXPPRYHPHQWDQGIXQFWLRQDODELOLW\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
([FHOZRUNERRN$FRPSDQLRQGRFXPHQWWKDWSURYLGHVGHWDLOVRQWKHFULWLFDOVSHFLILFDWLRQVWLHUVDQGWHUPVDQG
FRQGLWLRQVIRUHDFKVXSSOLHUGXHWRWKHQXPEHURIDZDUGHGVXSSOLHUVLQWKLVFDWHJRU\
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3DWLHQW6FDOHV (IIHFWLYH2FWREHU
([SLUHV6HSWHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVPHGLFDOVFDOHVDQGSDWLHQWZHLJKLQJV\VWHPV
LQFOXGLQJGLJLWDOPHFKDQLFDOVFDOHVGLJLWDOZKHHOFKDLUVFDOHV
GLJLWDOPHFKDQLFDOFKDLUVFDOHVDQGSHGLDWULFWUD\VFDOHV
&ODVVRIWUDGH
x
x
x
$JUHHPHQWVZLWK'HWHFWR+HDOWKRPHWHUDQG5LFH/DNHDUH
DYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQ
KHDOWKFDUHIDFLOLWLHV
7KHDJUHHPHQWZLWK6HFDLVDYDLODEOHWRDFXWHFDUHDQGQRQ
DFXWHKHDOWKFDUHIDFLOLWLHVRQO\
7KHDJUHHPHQWZLWK:HOFK$OO\QLVDYDLODEOHRQO\WRVSHFLILF
DFXWHFDUHDQGQRQDFXWHKHDOWKFDUHIDFLOLWLHV6HH$SSHQGL[
$LQWKHYDOXHDQDO\VLVWRRONLWRU([KLELW%IRUGHWDLOV
'HWHFWR
0DUN'HQQLQJ
+HDOWKR
PHWHU
.XUW5RVLQVNL
5LFH/DNH
.XUW/DEDQRZVNL 6HFD
-HII0D\HV
:HOFK$OO\Q 5LFN+ROPHV
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3300 3300
3300 3300
3300
1HZ
3300 3300
3300 3300
$600 $600
1RWH:HOFK$OO\QDFTXLUHG6FDOH7URQL[LQ
PGHQQLQJ#GHWHFWRFRP
$6&(1'7KLVFDWHJRU\KDVEHHQ
GHVLJQDWHGDVULGJH9LVLWWKH$6&(1'SRUWDO
NURVLQVNL#KRPHVFDOHVFRP
IRU$6&(1'ODXQFKPDWHULDOV
NODEDQRZVNL#ULFHODNHFRP 8SGDWH'HWHFWR+HDOWKRPHWHUDQG6HFD
ZHUHDGGHGWRWKH3DWLHQW6FDOHVFDWHJRU\
MHIIPD\HV#VHFDFRP
HIIHFWLYH2FWREHUWKURXJK6HSWHPEHU
ULFNKROPHV#KLOOURPFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$XJXVW)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURU
KLJKHUZLWK+HDOWKRPHWHUDQG6HFD
x $30')3$LVQRWUHTXLUHGZLWK'HWHFWR5LFH/DNHDQG:HOFK$OO\QGXHWRVLQJOHWLHURIIHULQJV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRI
IDFLOLWLHVZLWK'HWHFWR+HDOWKRPHWHU5LFH/DNHDQG6HFD
$JJUHJDWLRQZLWK:HOFK$OO\QLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVXQGHUFRPPRQRZQHUVKLSRUFRQWUROZLWKWKH
DELOLW\WRFRRUGLQDWHIRUWKHLURZQHGRUFRQWUROOHGIDFLOLWLHVRQO\DFXWHFDUHPHPEHUV KRVSLWDOV PD\DJJUHJDWH
WKHYROXPHRIWKHLURZQHGRUFRQWUROOHGIDFLOLWLHVDPEXODWRU\FDUHPHPEHUVQRWRZQHGRUFRQWUROOHGE\DQDFXWH
FDUHPHPEHUPD\LQGHSHQGHQWO\DJJUHJDWHWKHSXUFKDVHYROXPHRIWKHLURZQHGRUFRQWUROOHGIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWK+HDOWKRPHWHU5LFH/DNHDQG:HOFK$OO\Q
3ULFLQJLVILUPIRUPRQWKVWKHQDGMXVWHGDQQXDOO\ FDS ZLWK'HWHFWRDQG6HFD
'HWHFWR¶VQHZDJUHHPHQWSULFLQJKDVDQRYHUDOOSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
'HWHFWRRIIHUVPHPEHUVDZDUUDQW\H[WHQGHGZDUUDQW\DQGODUJHTXDQWLW\GLVFRXQWDVYDOXHDGGV
+HDOWKRPHWHU¶VQHZDJUHHPHQWSULFLQJKDVDQRYHUDOOSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJ
DJUHHPHQWSULFLQJ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3DWLHQW6FDOHV (IIHFWLYH2FWREHU
([SLUHV6HSWHPEHU
2WKHUNH\YDOXHDQGWHUPV FRQWLQXHG x
x
x
x
x
x
+HDOWKRPHWHURIIHUVPHPEHUVDQDGGLWLRQDOZDUUDQW\SDWLHQWSDOOHWSURJUDPGD\IUHHWULDOSURJUDPDQG
GHGLFDWHGFXVWRPHUVHUYLFHKRWOLQHDVYDOXHDGGV
6HFD¶VQHZDJUHHPHQWSULFLQJKDVDQRYHUDOOSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
6HFDRIIHUVPHPEHUVDSUHIHUUHGUHVWRFNLQJIHHGLVFRXQWSURGXFWXSJUDGHVVSDUHSDUWVDWQRDGGHGFKDUJHDQG
DGGLWLRQDOZDUUDQWLHVDVYDOXHDGGV
:HOFK$OO\Q¶VQHZDJUHHPHQWRIIHUVIODWSULFLQJFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
$YDLODEOHWKURXJKGLVWULEXWLRQ'HWHFWR+HDOWKRPHWHU5LFH/DNH6HFD
$YDLODEOHGLUHFW'HWHFWR5LFH/DNH6HFD:HOFK$OO\Q
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRU\
x
3DWLHQW/LIWVDQG/DWHUDO7UDQVIHU'HYLFHV3URGXFWVXVHGWRDVVLVWKHDOWKFDUHZRUNHUVLQWUDQVIHUULQJSDWLHQWV
IURPRQHORFDWLRQWRDQRWKHU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3HGLDWULFDQG<RXWK'LVSRVDEOHV
(IIHFWLYH-XQH
([SLUHV0D\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVVLQJOHXVHGLVSRVDEOHSLOORZVEODQNHWVDQG
JDUPHQWVGHVLJQHGIRUSHGLDWULFSDWLHQWV*DUPHQWVLQFOXGHGDUHH[DP
JRZQV,9JRZQVSDMDPDVVKRUWVKDOWHUVFDSVDQGRUMDFNHWVIRU
VHOIZDUPLQJ7KHGLVSRVDEOHVLQWKHFDWHJRU\DUHGHVLJQHGWREH
SHGLDWULFIULHQGO\
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFRQWLQXXPRIFDUHDQG3UHPLHU
5($&+PHPEHUV
(QFRPSDVV
&\QWKLD
+DPP
F\QWKLDKDPP#HQFRPSDVVJURXSF
RP
/6/
'RWWLH
/HZD\
'RWWLHOHZD\#OVOLQGFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI)HEUXDU\)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU +RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHU
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPV*32VDQG
HVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
33:&
33:&
33:&
1HZ
(QFRPSDVVLVDVPDOOEXVLQHVVHQWHUSULVH 6%( /6/LVDPLQRULW\RZQHGEXVLQHVVHQWHUSULVH 0%( 3UHYLRXVDJUHHPHQWZLWK'H5R\DO 33:& H[SLUHV0D\
)LQDQFLDOFRQVLGHUDWLRQV
x &RVWVRIZDUPLQJJDUPHQWV
7KHUPRIOHFW FRPSDUHGWRZDUPHG
FRWWRQEODQNHWVRUIRUFHGDLU
ZDUPLQJ
3DWLHQWVDWLVIDFWLRQDQGVDIHW\
x 9DULHW\RIVL]HV
x &RORUIXODQGFRPIRUWDEOHPDWHULDOV
ZLWKSHGLDWULFIRFXVHGSULQWV
x &ORWKLQJPHHWVIODPHUHWDUGDQW
VWDQGDUGV
5RDGEORFNVWRFRQYHUVLRQ
x &XUUHQWSDWLHQWZDUPLQJV\VWHPV
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWVZLWKERWK
VXSSOLHUV
3URGXFWVPHHWDOOLQGXVWU\VWDQGDUGVDQGDUHWR[LQIUHH
(QFRPSDVVKDVRYHUDOOSHUFHQWOHVVIDYRUDEOHSULFLQJFRPSDUHGWRWKHLUH[SLULQJDJUHHPHQWSULFLQJ
/6/
/6/SULFLQJLVRYHUDOOSHUFHQWOHVVIDYRUDEOHWKDQ(QFRPSDVV
$YDLODEOHWKURXJKGLVWULEXWLRQ(QFRPSDVV/6/
$YDLODEOHGLUHFW(QFRPSDVV/6/
1RWH)LQDQFLDODQDO\VLVDQGSULFLQJLQIRUPDWLRQDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHV
x
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHVXPPDU\WKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
x 0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
x &URVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV:KHUHSRVVLEOHQRQDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQLVLQFOXGHGDORQJZLWKDZDUGHG
VXSSOLHUSURGXFWLQIRUPDWLRQ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5385&+$6,1*3$571(56/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5385&+$6,1*3$571(56/3
3HGLDWULFDQG<RXWK'LVSRVDEOHV
(IIHFWLYH-XQH
([SLUHV0D\
5HODWHGFDWHJRULHV
x
x
x
x
'LVSRVDEOH1RQ6WHULOH3URWHFWLYH$SSDUHOQRQVWHULOHGLVSRVDEOHJRZQVVFUXEVXLWVFRYHUDOOV
DSURQVODEFRDWVDQGMDFNHWVKHDGJHDUDQGFDSVDQGVKRHFRYHUV
)DOO0DQDJHPHQW)RRWZHDU6OLSSHUVXVHGE\SDWLHQWVLQDFXWHDQGQRQDFXWHIDFLOLWLHVWRSUHYHQW
IDOOV LQFOXGHVIRRWZHDUZLWKWUHDGV 3DWLHQW:DUPLQJ3URGXFWV&RQYHFWLYHIRUFHGDLUEODQNHWVDQGIOXLGZDUPLQJGHYLFHV
3DWLHQW7HPSHUDWXUH0DQDJHPHQW:DWHUFLUFXODWHGEODQNHWVDQGLQYDVLYHZDUPLQJSURGXFWV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5385&+$6,1*3$571(56/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5385&+$6,1*3$571(56/3
3K\VLFDO7KHUDS\3URGXFWVDQG([HUFLVH(TXLSPHQW
(IIHFWLYH0DUFK
([SLUHV)HEUXDU\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVSK\VLFDOWKHUDS\SURGXFWVDQGH[HUFLVH
HTXLSPHQWXVHGWRSURYLGHWKHUDS\DLPHGDWGHYHORSLQJPDLQWDLQLQJ
DQGUHVWRULQJPD[LPXPPRYHPHQWDQGIXQFWLRQDODELOLW\
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
3300 33$&
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHV
-RKQ
0HGFRP
MEHUJVWHQ#PHGFRPJURXSFRP
%HUJVWHQ
3HUIRUPDQFH &UDLJ
FUDLJPDULDQ#SDWWHUVRQPHGLFDOFRP
+HDOWK
0DULDQ
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI'HFHPEHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RU
HOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHU
ZLWK3HUIRUPDQFH+HDOWK
$30')3$LVQRWUHTXLUHGZLWK0HGFRPGXHWRVLQJOHWLHU
RIIHULQJ
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWKERWKVXSSOLHUV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
x
([SLULQJ
3300 33$&
$600 $6$&
0HGFRPLVDZRPDQRZQHGEXVLQHVVHQWHUSULVH
:%( 3DWWHUVRQ0HGLFDO6XSSO\,QFIRUPDOO\FKDQJHGLWV
QDPHWR3HUIRUPDQFH+HDOWK6XSSO\,QFLQ
&XUUHQWDJUHHPHQWVZLWK&OLQWRQ 33$&
3K\VLFDO(QWHUSULVH 33$& DQG
=HZD 33$& H[SLUH)HEUXDU\
)LQDQFLDOFRQVLGHUDWLRQV
x 9DOXHDGGVVXFKDVRQVLWHUHWDLO
DQGHPSOR\HHSXUFKDVHSURJUDPV
x *UDQGIDWKHULQJ
x (DUO\SD\PHQWGLVFRXQWVDQGODWH
SD\PHQWSHQDOWLHV
x 6KLSSLQJFRVWV
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKERWKVXSSOLHUV
0HGFRP¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
RYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 3DWLHQWSRSXODWLRQ VWURNHUHFRYHU\
0HGFRPRIIHUVDSHUFHQWGLVFRXQWLISD\PHQWLVPDGHZLWKLQ
SDWLHQWVEDULDWULFDQGSHGLDWULF
GD\VRISURGXFWGHOLYHU\LQYRLFHUHFHLSWRUDFFHSWDQFH
RSWLRQV ZKLFKHYHUGDWHLVODWHU
x 3URGXFWVDIHW\IHDWXUHVVXFKDV
8SRQUHTXHVW3HUIRUPDQFH+HDOWKZLOOJUDQGIDWKHUDPHPEHU¶V
HTXLSPHQWVDIHW\EHOWVDQGORZ
FXUUHQWSULFLQJLQDJJUHJDWHIRUWKHWHUPRIWKHDJUHHPHQWLIWKH
VWHSRYHUGHVLJQ
PHPEHULVFXUUHQWO\SXUFKDVLQJRIIRIDJUHHPHQW33$&
DQGFRQWLQXHVWRSXUFKDVHVLPLODUGROODUYROXPHVLQWKHQHZ
5RDGEORFNVWRFRQYHUVLRQ
DJUHHPHQW
x $YDLODELOLW\RISHGLDWULFDQG
3HUIRUPDQFH+HDOWK¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQW
EDULDWULFSURGXFWV
VDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x &DSLWDOEXGJHWFRQVWUDLQWV
,IIXOOSD\PHQWLVQRWUHFHLYHGZLWKLQGD\V3HUIRUPDQFH
+HDOWKFKDUJHVSHUFHQWRIXQSDLGDPRXQWSHUPRQWK
3HUIRUPDQFH+HDOWKRIIHUVDQDFWLYHFDUHUHWDLOSURJUDPDVHPLDQQXDOJURXSSXUFKDVHSURJUDPDTXLFNVKLS
SURJUDPDQGDQHPSOR\HHSXUFKDVHSURJUDPDVYDOXHDGGV6HHYDOXHDGGVLQWKHYDOXHDQDO\VLVWRRONLWIRU
GHWDLOV
3HUIRUPDQFH+HDOWKFKDUJHVDJURXQGVKLSSLQJIHHSHUSXUFKDVHRUGHU6HHVKLSSLQJFKDUJHVLQWKHYDOXH
DQDO\VLVWRRONLWRU([KLELW.LQ6XSSO\&KDLQ$GYLVRUIRUGHWDLOV
$YDLODEOHGLUHFW0HGFRPDQG3HUIRUPDQFH+HDOWK
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3K\VLFDO7KHUDS\3URGXFWVDQG([HUFLVH(TXLSPHQW
(IIHFWLYH0DUFK
([SLUHV)HEUXDU\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
5HODWHGFDWHJRULHV
x
x
x
0RELOLW\$LGV3URGXFWVGHVLJQHGWRLPSURYHWKHPRELOLW\RISHRSOHZLWKLPSDLUPHQWV
3HGLDWULF6SHFLDOW\3URGXFWV&KLOGIULHQGO\IXUQLWXUH VXFKDVSHGLDWULFWDEOHVDQGVHDWLQJ DQGDFFHVVRULHV
5HVWUDLQWVDQG)DOO3UHYHQWLRQ3URGXFWV3URGXFWVGHVLJQHGWRUHGXFHWKHULVNRISDWLHQWLQMXU\DQGIDOOV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3K\VLRORJLFDO0RQLWRULQJ6\VWHPV
(IIHFWLYH-XQHWKURXJK0D\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KHSK\VLRORJLFDOPRQLWRULQJV\VWHPVFDWHJRU\LQFOXGHVSK\VLRORJLFDOPRQLWRUV
IRUDOODUHDVRISDWLHQWFDUH7KHFDWHJRU\FRQVLVWVRIFHQWUDOVWDWLRQVEHGVLGH
PRQLWRUVDQDPEXODWRU\WHOHPHWU\V\VWHPDQGYLWDOVLJQPRQLWRUV'HSHQGLQJ
RQZKHUHWKHSK\VLRORJLFDOPRQLWRUZLOOEHXWLOL]HGLWFDQEHFRQILJXUHGWR
GLVSOD\ZDYHIRUPVDQGQXPHULFDOGDWDIRUYDULRXVSDUDPHWHUV HJ(&*
UHVSLUDWRU\UDWHQRQLQYDVLYHEORRGSUHVVXUH 1,%3 LQYDVLYHEORRGSUHVVXUH
,%3 ERG\WHPSHUDWXUHHWF 9LWDOVLJQVPRQLWRUVLQFOXGHGLQWKLVFDWHJRU\DUH
W\SLFDOO\XVHGEXWQRWOLPLWHGWRWKHSHULRGLFPHDVXUHPHQWRIYLWDOVLJQ
SDUDPHWHUV HJ1,%3SXOVHR[LPHWU\DQGWHPSHUDWXUH 7HOHPHWU\PRQLWRUV
FDQEHXVHGWKURXJKRXWDOOSDWLHQWFDUHDUHDVZKHUHDIDFLOLW\IHHOVWKH\DUH
QHFHVVDU\
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK'UlJHU)XNXGD*(
0LQGUD\1LKRQ.RKGHQ6SDFHODEV9\DLUHDQG:HOFK$OO\Q
$*32'HVLJQDWLRQ)RUPLVUHTXLUHGZLWK3KLOLSVWRLQGLFDWH*32
SUHIHUHQFHXQOHVVD*32'HVLJQDWLRQ)RUPKDVDOUHDG\EHHQ
VXEPLWWHG3KLOLSVZLOOXVHFRPPHUFLDOO\UHDVRQDEOHHIIRUWVWR
LPSOHPHQWDV\VWHPZKHUHE\WKH*32'HVLJQDWLRQ)RUPPD\EH
WUDQVPLWWHGHOHFWURQLFDOO\UDWKHUWKDQLQSDSHUIRUP
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
3300 3300
3300
1HZ
3300 3300
3300 3300
3300 3300
3300 3300
3300 3300
3300 3300
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
3300 3300
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWK'UlJHU
)XNXGD*(0LQGUD\1LKRQ.RKGHQ6SDFHODEVDQG9\DLUH
&XUUHQWDJUHHPHQWVZLWK$XWKHQWLGDWH 3300
x 7KHDJJUHJDWLRQSULFLQJRSWLRQZLWK9\DLUHDSSOLHVWRWKH
DQG&-36 3300 H[SLUH0D\
SXUFKDVHYROXPHRIDOOIDFLOLWLHVWKDWGHVLJQDWHWKHXQGHUVLJQHG
PHPEHUDVDWRSRUGLUHFWSDUHQWRQWKHPHPEHUVKLSURVWHU
DQGDQ\IDFLOLW\OLVWHGRQ([KLELW$,QWKHHYHQWDPHPEHU
$6&(1'7KHUHLVQR$6&(1'DZDUGLQWKLV
ZLWKLQDQDJJUHJDWLRQJURXSGRHVQRWXVH9\DLUHDVWKHLU
FDWHJRU\
SULPDU\VXSSOLHURISK\VLRORJLFDOPRQLWRULQJV\VWHPSURGXFWV
9\DLUHPD\PRYHWKHPHPEHUWRWKHDSSURSULDWHWLHUEDVHGRQ
WKHPHPEHU¶VLQGLYLGXDOLQFRPH
$JJUHJDWLRQZLWK:HOFK$OO\QLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVXQGHUFRPPRQRZQHUVKLSRUFRQWURORQO\DFXWHFDUHIDFLOLWLHV
PD\DJJUHJDWHWKHSXUFKDVHYROXPHRIWKHLURZQHGRUFRQWUROOHGIDFLOLWLHV QRDPEXODWRU\FDUHPHPEHUVWKDWDUHQRWRZQHGRU
FRQWUROOHGPD\LQGHSHQGHQWO\DJJUHJDWHWKHSXUFKDVHYROXPHRIWKHLURZQHGRUFRQWUROOHGIDFLOLWLHV &ODVVRIWUDGH
x
x
x
$JUHHPHQWVZLWK'UlJHU)XNXGD*(0LQGUD\1LKRQ.RKGHQDQG3KLOLSVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUH
DQGQRQKHDOWKFDUHIDFLOLWLHV
x 2QO\OLFHQVHGFOLQLFLDQVPD\RUGHUDQGXVHPHGLFDOGHYLFHSURGXFWVZLWK6SDFHODEV
7KHDJUHHPHQWZLWK9\DLUHLVDYDLODEOHWR86KHDOWKFDUHSURYLGHUVQRWLQFOXGLQJUHWDLOSKDUPDFLHVRWKHUUHWDLODQGFRQWUDFW
UHVHDUFKRUJDQL]DWLRQV &52V 7KHDJUHHPHQWZLWK:HOFK$OO\QLVDYDLODEOHWRVHOHFWDFXWHFDUHDQGQRQDFXWHKHDOWKFDUHIDFLOLWLHV6HH$SSHQGL[$LQWKH
YDOXHDQDO\VLVWRRONLWRU([KLELW%IRUVSHFLILFFODVVRUWUDGHDYDLODELOLW\
2WKHUNH\YDOXHDQGWHUPV
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWK'UlJHU*(0LQGUD\1LKRQ.RKGHQ3KLOLSV6SDFHODEV9\DLUHDQG:HOFK
$OO\Q
3ULFLQJZLWK)XNXGDLVILUPIRUWKHWHUPRIWKHDJUHHPHQWH[FOXGLQJRULJLQDOHTXLSPHQWPDQXIDFWXUHU 2(0 SURGXFWV SHUFHQWFDSGXULQJ\HDUVWZRDQGWKUHHRIWKHDJUHHPHQW )LQDQFLDODQDO\VLVUHYHDOV
x 'UlJHU¶VQHZDJUHHPHQWSULFLQJRIIHUVDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3K\VLRORJLFDO0RQLWRULQJ6\VWHPV
(IIHFWLYH-XQHWKURXJK0D\
2WKHUNH\YDOXHDQGWHUPV FRQWLQXHG x
x
x
x
x
x
x
x
x
x
x
*(¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
0LQGUD\¶VQHZDJUHHPHQWSULFLQJRIIHUVDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
1LKRQ.RKGHQ¶VQHZDJUHHPHQWSULFLQJRIIHUVDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
SULFLQJ
x 3KLOLSV¶QHZDJUHHPHQWSULFLQJRIIHUVDSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 6SDFHODEV¶QHZDJUHHPHQWSULFLQJRIIHUVDQSHUFHQWVDYLQJVRYHUDOOFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 9\DLUH¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x :HOFK$OO\Q¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 3ULFLQJVFHQDULRVUHYHDOWKHORZFRVWVXSSOLHUYDULHVE\VFHQDULR6HHWKHILQDQFLDODQDO\VLVVHFWLRQRIWKHYDOXH
DQDO\VLVWRRONLWIRUGHWDLOV
)XNXGDRIIHUVODUJHYROXPHGLVFRXQWVDSDUWVDQGODERUZDUUDQW\DQGQRFKDUJHLWHPVDVYDOXHDGGV *(RIIHUV8/LIHDQGHQKDQFHGVHOOHUYDOXHSURJUDPVDVYDOXHDGGV 0LQGUD\RIIHUVDWRSWLHUYDOXHDGG
1LKRQ.RKGHQRIIHUVZDUUDQWLHVDQGXSJUDGHVWUDLQLQJDQGVXSSRUWDQGH[FOXVLYHLWHPVDVYDOXHDGGV
6SDFHODEVRIIHUVH/HDUQLQJUHIXUELVKHGHTXLSPHQWSURGXFWWUDGHLQDODUJHRUGHUGROODUWKUHVKROGDQGDGGLWLRQDOVHUYLFHVDV
YDOXHDGGV $YDLODEOHWKURXJKGLVWULEXWLRQ3KLOLSV9\DLUH:HOFK$OO\Q
$YDLODEOHGLUHFW'UlJHU)XNXGD*(0LQGUD\1LKRQ.RKGHQ3KLOLSV6SDFHODEV9\DLUH:HOFK$OO\Q
1HZWKLVDJUHHPHQW0LQGUD\LVQRZGLUHFWRQO\
6HHWKHYDOXHDGGVHFWLRQRIWKHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
x
x
x
x
x
x
x
'UlJHU,QF/DULVVD.UDXVODULVVDNUDXV#GUDHJHUFRP
)XNXGD'HQVKL86$,QF-DPHV)DJDQMIDJDQ#IXNXGDFRP
*HQHUDO(OHFWULF&RPSDQ\E\DQGWKURXJKLWV*('LYLVLRQ/LQGVD\$UDQKDOLQGVD\DUDQKD#JHFRP
0LQGUD\1RUWK$PHULFD-RKQ-RQHVMMRQHV#PLQGUD\FRP
1LKRQ.RKGHQ$PHULFD,QF0LFKDHO2KVDZDPLFKDHOBRKVDZD#QNXVDFRP
3KLOLSV+HDOWKFDUHDGLYLVLRQRI3KLOLSV1RUWK$PHULFD//&5RQ6FLHSNRURQVFLHSNR#SKLOLSVFRP
6SDFHODEV+HDOWKFDUH//&1HLOO0RRUHQHLOOPRRUH#VSDFHODEVFRP
:HOFK$OO\Q,QF5LFN+ROPHVULFNKROPHV#KLOOURPFRP
9\DLUH0HGLFDO,QF7HUU\%U\DQWWHUU\EU\DQW#Y\DLUHFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
5HODWHGFDWHJRULHV
x
x
x
x
x
%ORRG3UHVVXUH&XIIVDQG$FFHVVRULHV6SK\JPRPDQRPHWHU EORRGSUHVVXUH GHYLFHVFXIIVDQGUHSODFHPHQWDFFHVVRULHV
)HWDO0RQLWRULQJ)HWDOPRQLWRULQJHTXLSPHQWSURYLGHVFRQWLQXRXVEHGVLGHPRQLWRULQJRIDQWHSDUWXPDQGLQWUDSDUWXP
SDUDPHWHUVWRDVVLVWFOLQLFLDQVZLWKDGGLWLRQDOLQIRUPDWLRQDERXWWKHIHWDODQGPDWHUQDOSK\VLRORJLFFRQGLWLRQV
,QYDVLYH&DUGLRORJ\&DWKHWHUODEKHPRG\QDPLFPRQLWRULQJV\VWHPVDQGHOHFWURSK\VLRORJ\PRQLWRULQJV\VWHPV
1RQLQYDVLYH&DUGLRORJ\(OHFWURFDUGLRJUDSK\PDFKLQHVDQGFDUWV(&*PDQDJHPHQWV\VWHPV+ROWHUPRQLWRULQJDQG
VWUHVVWHVWLQJSURGXFWV
3XOVH2[LPHWU\'HYLFHV&DSLWDOHTXLSPHQWGLVSRVDEOHVVHQVRUVDQGFRQQHFWLQJFDEOHVWKDWDUHXVHGLQWKHPHDVXUHPHQW
PDQDJHPHQWDQGUHFRUGLQJRISDWLHQWR[\JHQDWLRQOHYHOVYLDDQHOHFWURQLFVHQVRUSODFHGRQWKHSDWLHQW VILQJHUWLSHDUOREH
RULQWKHFDVHRIDQHRQDWHDFURVVWKHIRRW
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRUPHPEHU
VSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLVGRFXPHQW
LVXQDEOHWREHHGLWHG
([FHOZRUNERRN$FRPSDQLRQGRFXPHQWWKDWSURYLGHVGHWDLOVRQWKHFULWLFDOVSHFLILFDWLRQVWLHUVDQGWHUPVDQGFRQGLWLRQVIRU
HDFKVXSSOLHUGXHWRWKHQXPEHURIDZDUGHGVXSSOLHUVLQWKLVFDWHJRU\
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3RVW0RUWHP(TXLSPHQWDQG6XSSOLHV
(IIHFWLYH-XO\
([SLUHV-XQH
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVDGXOWEDULDWULFSHGLDWULFDQGLQIDQWSRVW
PRUWHPEDJVVKURXGVDQGDFFHVVRULHV
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHV
%XVVH
5D\2¶+DUD
URKDUD#EXVVHLQFFRP
0HGOLQH
'HUULFN)LWFKHQD
GILWFKHQD#PHGOLQHFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0DUFK)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVQRWUHTXLUHGGXHWRVLQJOHWLHURIIHULQJVZLWKERWK
VXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWKERWKVXSSOLHUV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKERWKVXSSOLHUV
%XVVH¶VQHZDJUHHPHQWRIIHUVXSIODWSULFLQJFRPSDUHGWRLWV
H[SLULQJDJUHHPHQWSULFLQJ
0HGOLQHRIIHUVDQHZFXVWRPHUFRQYHUVLRQUHEDWH6HHYDOXH
DGGVUHEDWHVLQWKHYDOXHDQDO\VLVWRRONLWIRUGHWDLOV
$YDLODEOHWKURXJKGLVWULEXWLRQ%XVVH0HGOLQH
$YDLODEOHGLUHFW0HGOLQH
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWH
LQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
$ZDUGHGVXSSOLHUV
6XSSOLHU
*
1HZ
([SLULQJ
3300
3300
$600
3300
$600
1HZ
%XVVHLVDZRPDQRZQHGEXVLQHVVHQWHUSULVH
:%( &XUUHQWDJUHHPHQWVZLWK$OSKD0HGLFDO 33
00 %LR6HDO 3300 DQG/',
&RUSRUDWLRQ 3300 H[SLUH-XQH
)LQDQFLDOFRQVLGHUDWLRQV
x 3D\PHQWWHUPV
x 6KLSSLQJWHUPV
x 5HEDWHV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x ,QWHJULW\RIEDJPDWHULDODQGVHDOV
x 3URGXFWZHLJKWFDSDFLW\
x 3URGXFWVIRUVSHFLILFSDWLHQW
SRSXODWLRQV HJSHGLDWULFEDULDWULF x +DQGOHVDQGHDVHRIEDJPRYHPHQW
E\VWDII
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJSRVWPRUWHPDJUHHPHQWV
LQ\RXUIDFLOLW\
x 3RVWPRUWHPHTXLSPHQWSURYLGHG
E\ORFDOIXQHUDOKRPHV
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRI
WKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH
:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3XOPRQDU\)XQFWLRQDQG0HWDEROLF$QDO\]HUV(IIHFWLYH2FWREHU
([SLUHV6HSWHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVSXOPRQDU\IXQFWLRQDQDO\]HUV DOVRNQRZQDV
OXQJUHVSLUDWRU\IXQFWLRQDQDO\]HUV ZKLFKPHDVXUHWKHSHUIRUPDQFH
RIDSDWLHQW¶VUHVSLUDWRU\V\VWHP3XOPRQDU\IXQFWLRQWHVWV 3)7V DUH
DVHULHVRIEUHDWKLQJWHVWVSHUIRUPHGWRDVVHVVFRQGLWLRQVVXFKDV
DVWKPDSXOPRQDU\ILEURVLVHPSK\VHPDDQGFKURQLFREVWUXFWLYH
SXOPRQDU\GLVHDVH &23' 6XSSOLHU
DYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQ
KHDOWKFDUHIDFLOLWLHV
&DUH)XVLRQ¶VDJUHHPHQWLVDYDLODEOHWRKHDOWKFDUHIDFLOLWLHV
RQO\
$OOLDQFH
7HFK
-RKQ6LOYD
&DUH)XVLRQ
&260('
0*&
MVLOYD#DOOLDQFHWHFKPHGLFDOFRP
&KXFN
FKDUOHVBFROOLV#EGFRP
&ROOLV
&ODXGLR
FEHOOLQL#FRVPHGFRP
%HOOLQL
-HVVLFD
JSRDGPLQ#PJFGLDJQRVWLFVFRP
6FKODGZHLOHU
([SLULQJ
3300 3300
&ODVVRIWUDGH
x $JUHHPHQWVZLWK$OOLDQFH7HFK&260('DQG0*&DUH
x
1HZ
3300 3300
3300
1HZ
3300 3300
$OOLDQFH7HFKLVDVPDOOEXVLQHVVHQWHUSULVH 6%( 1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$XJXVW)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURU
KLJKHUZLWK$OOLDQFH7HFK&DUH)XVLRQDQG0*&
$30')3$LVQRWUHTXLUHGZLWK&260('GXHWRVLQJOHWLHURIIHULQJ
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRI
IDFLOLWLHVZLWK$OOLDQFH7HFK&DUH)XVLRQDQG0*&
$JJUHJDWLRQLVQRWDSSOLFDEOHZLWK&260('GXHWRVLQJOHWLHURIIHULQJ
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWKDOOVXSSOLHUV
$OOLDQFH7HFK¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
$OOLDQFH7HFKRIIHUVDQLQYRLFHGLVFRXQWDVDYDOXHDGGGLVFRXQWSHUFHQWDJHGHWHUPLQHGE\DQQXDOSXUFKDVH
YROXPH
&DUH)XVLRQ¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
&DUH)XVLRQRIIHUVWKHIROORZLQJYDOXHDGGV
x 'HYLFHWUDGHLQSURJUDP
x %RG\ER[WUDGHLQSURJUDP
x ([WHQGHGZDUUDQW\GLVFRXQW
+RVSLWDOVSXUFKDVLQJIURP&DUH)XVLRQVDJUHHPHQWZLOOLQFXUDIHHIRURUGHUVOHVVWKDQ$OWHUQDWHVLWH
IDFLOLWLHVZLOOLQFXUDIHHIRURUGHUVOHVVWKDQ
0*&¶VQHZDJUHHPHQWSULFLQJVKRZVDRYHUDOOLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3XOPRQDU\)XQFWLRQDQG0HWDEROLF$QDO\]HUV(IIHFWLYH2FWREHU
([SLUHV6HSWHPEHU
2WKHUNH\YDOXHDQGWHUPV FRQWLQXHG x
x
x
x
0*&RIIHUVWKHIROORZLQJYDOXHDGGV
x $GGLWLRQDOZDUUDQW\IRUPHPEHUVDW7LHURUKLJKHU
x &OLQLFDOWUDLQLQJDW0*&'LDJQRVWLF¶VKHDGTXDUWHUVIRUPHPEHUVDW7LHURUKLJKHU
x 8OWUD&DUHGLVFRXQW
3ULFLQJVFHQDULRVUHYHDOWKHORZFRVWVXSSOLHUYDULHVE\VFHQDULR3OHDVHVHHWKHSULFLQJVFHQDULRV
VHFWLRQRIWKHWRRONLW
$YDLODEOHWKURXJKGLVWULEXWLRQ$OOLDQFH7HFK
$YDLODEOHGLUHFW$OOLDQFH7HFK&DUH)XVLRQ&260('0*&
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3XOVH2[LPHWU\DQG&DSQRJUDS\'HYLFHV
(IIHFWLYH0D\WKURXJK$SULO
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVFDSLWDOHTXLSPHQWGLVSRVDEOHVVHQVRUVDQG
FRQQHFWLQJFDEOHVWKDWDUHXVHGLQWKHPHDVXUHPHQWPDQDJHPHQWDQG
UHFRUGLQJRIWKHSDWLHQW¶VR[\JHQDWLRQOHYHOVYLDDQHOHFWURQLFVHQVRUSODFHG
RQWKHSDWLHQW¶VILQJHUWLSHDUOREHRULQWKHFDVHRIDQHRQDWHDFURVVDIRRW
,WDOVRLQFOXGHVWKHFDSLWDOHTXLSPHQWDQGDFFHVVRULHVXVHGWRPHDVXUH
H[SLUHGFDUERQGLR[LGHOHYHOV
1RWH7KLVFDWHJRU\ZDVSUHYLRXVO\VRXUFHGDVSXOVHR[LPHWU\GHYLFHV
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x $3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
x
$ZDUGHGVXSSOLHUV
1HZ
([SLULQJ
6XSSOLHU
FRQWUDFW
FRQWUDFW
3300 3300
3300 3300
3300 3300
$6&(1'7KHUHLVQR$6&(1'DZDUGLQWKLV
FDWHJRU\
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDWDOOWLHUVIRUQHZ0DVLPR
FXVWRPHUV
x 0HPEHUVZKRSUHYLRXVO\VXEPLWWHGD30')ZLWK0DVLPR
ZLOOUHFHLYHSULFLQJXQGHUWKLVDJUHHPHQWDWPHPEHU¶VYROXPHWLHUXQGHU3300
$30')3$LVUHTXLUHGDW7LHURUKLJKHUZLWK&RYLGLHQDQG6PLWKV0HGLFDO
x &RYLGLHQZLOOXVHFRPPHUFLDOO\UHDVRQDEOHHIIRUWVWRLPSOHPHQWHOHFWURQLF30')V
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
x
$JJUHJDWLRQZLWK&RYLGLHQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZKRHLWKHURZQKDYH
FRQWUROOLQJLQWHUHVWLQRUH[SUHVVFRQWUDFWXDODXWKRULW\WRPDNHSXUFKDVLQJGHFLVLRQVRQEHKDOIRIVXFKIDFLOLWLHV
$JJUHJDWLRQZLWK0DVLPRLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNV
RIIDFLOLWLHV
$JJUHJDWLRQZLWK6PLWKV0HGLFDOLVDOORZHGIRUPHPEHUVZKRRZQDQGFHQWUDOO\PDQDJHPXOWLIDFLOLW\V\VWHPVZLWKWKH
DELOLW\WRGULYHSXUFKDVLQJGHFLVLRQV
&ODVVRIWUDGH
x
x
$JUHHPHQWVZLWK0DVLPRDQG6PLWKV0HGLFDODUHDYDLODEOHWRDFXWHFDUHDQGQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUH
IDFLOLWLHV
&RYLGLHQ¶VDJUHHPHQWLVDYDLODEOHWRVSHFLILFFODVVHVRIWUDGH6HH$SSHQGL[$RIWKHYDOXHDQDO\VLVWRRONLWRU([KLELW%
IRUGHWDLOV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWK0DVLPRDQG6PLWKV0HGLFDO
&RYLGLHQ¶VSULFLQJPD\LQFUHDVHE\SHUFHQWIRUHDFKSHUFHQWLQFUHDVHLQDJJUHJDWHFRVWRIUDZPDWHULDOVHDFK
FRQWUDFW\HDU
)LQDQFLDODQDO\VLVUHYHDOV
x &RYLGLHQ¶VQHZDJUHHPHQWSULFLQJKDVDSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 0DVLPR¶VQHZDJUHHPHQWSULFLQJKDVDSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 6PLWKV0HGLFDO¶VQHZDJUHHPHQWSULFLQJKDVDSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x &RYLGLHQLVWKHORZFRVWVXSSOLHU
&RYLGLHQRIIHUVPXOWLSOHYDOXHDGGVLQFOXGLQJFOLQLFDOHGXFDWLRQHTXLSPHQWDFTXLVLWLRQSURJUDPVVDOHVVXSSRUWVHUYLFHV
DQGGLUHFWRQO\SXUFKDVHSURPRWLRQV
&RYLGLHQRUGHUVOHVVWKDQDUHVXEMHFWWRDRUGHUFKDUJH
6PLWKV0HGLFDORUGHUVOHVVWKDQDUHVXEMHFWWRDKDQGOLQJIHHDQGIUHLJKWFKDUJHV
$YDLODEOHWKURXJKGLVWULEXWLRQ&RYLGLHQ0DVLPR6PLWKV0HGLFDO
$YDLODEOHGLUHFW&RYLGLHQ0DVLPR6PLWKV0HGLFDO
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
3XOVH2[LPHWU\DQG&DSQRJUDS\'HYLFHV
(IIHFWLYH0D\WKURXJK$SULO
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
x
&RYLGLHQ6DOHV//&*UHJ*RRGDOOJUHJMJRRGDOO#PHGWURQLFFRP
0DVLPR$PHULFDV,QF-RKQ%ODFNMEODFN#PDVLPRFRP
6PLWKV0HGLFDO$6',QF-XOLHW/DUVRQMXOLHWODUVRQ#VPLWKVPHGLFDOFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-DQXDU\)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\
&KDLQ$GYLVRU
5HODWHGFDWHJRULHV
x
x
x
x
x
x
%ORRG3UHVVXUH&XIIVDQG$FFHVVRULHV6SK\JPRPDQRPHWHU EORRGSUHVVXUH GHYLFHVFXIIVDQGUHSODFHPHQW
DFFHVVRULHV
)HWDO0RQLWRULQJ)HWDOPRQLWRULQJHTXLSPHQWSURYLGHVFRQWLQXRXVEHGVLGHPRQLWRULQJRIDQWHSDUWXPDQGLQWUDSDUWXP
SDUDPHWHUVWRDVVLVWFOLQLFLDQVZLWKDGGLWLRQDOLQIRUPDWLRQDERXWWKHIHWDODQGPDWHUQDOSK\VLRORJLFFRQGLWLRQV
,QYDVLYH&DUGLRORJ\&DWKODEKHPRG\QDPLFPRQLWRULQJV\VWHPVDQGHOHFWURSK\VLRORJ\PRQLWRULQJV\VWHPV
1RQ,QYDVLYH&DUGLRORJ\(OHFWURFDUGLRJUDSK\PDFKLQHVDQGFDUWV(&*PDQDJHPHQWV\VWHPVKROWHUPRQLWRULQJDQG
VWUHVVWHVWLQJSURGXFWV
3K\VLRORJLFDO0RQLWRULQJDQG9LWDO6LJQV3K\VLRORJLFDOPRQLWRULQJV\VWHPVDOORZSDWLHQWV¶SK\VLRORJLFSDUDPHWHUVVXFK
DVUHVSLUDWRU\UDWHERG\WHPSHUDWXUHQRQLQYDVLYHEORRGSUHVVXUHDQGLQYDVLYHEORRGSUHVVXUHWREHFRQWLQXRXVO\
PRQLWRUHGVRWKDWFKDQJHVFDQEHLGHQWLILHGDQGLIQHFHVVDU\WUHDWHG9LWDOVLJQVPRQLWRUVDOORZSHULRGLFPHDVXUHPHQW
RIPXOWLSOHYLWDOVLJQVSDUDPHWHUVVXFKDVEORRGSUHVVXUHDQGWHPSHUDWXUH
6HGDWLRQ0RQLWRULQJ0RQLWRUVDQGVHQVRUVWKDWPHDVXUHWKHHIIHFWVRIDQHVWKHVLDDQGVHGDWLRQE\PRQLWRULQJERWK
VLGHVRIWKHEUDLQ¶VHOHFWULFDODFWLYLW\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
([HFXWLYHVXPPDU\$KLJKOHYHO3')RYHUYLHZLQWHQGHGIRUVXSSO\FKDLQDQG&VXLWHH[HFXWLYHV7KLVGRFXPHQW
LQFOXGHVDJUHHPHQWKLJKOLJKWVSXUFKDVLQJFRQVLGHUDWLRQVDQGLQIRUPDWLRQRQ3UHPLHUUHVRXUFHV
x 0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
x 3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV7KLV
GRFXPHQWLVXQDEOHWREHHGLWHG
x 3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG 35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
5HJLRQDO$QHVWKHVLD7UD\V
(IIHFWLYH)HEUXDU\
([SLUHV)HEUXDU\
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVVXSSOLHVQHHGHGIRUWKHDSSOLFDWLRQRIUHJLRQDO
DQHVWKHVLDWKURXJKHSLGXUDOVDQGVSLQDOLQMHFWLRQVDQGWKHLQGXFWLRQRI
SDLQPDQDJHPHQW
6XSSOLHU
1HZ
([SLULQJ
3325
3325
$625
&ODVVRIWUDGH
6'25
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV6HHWHUPVDQGFRQGLWLRQVVHFWLRQLQWKH
YDOXHDQDO\VLVWRRONLWIRUDGGLWLRQDOGHWDLOV
%%UDXQ
%LOO0LOOHU
ELOOPLOOHU#EEUDXQFRP
0<&2
0HGLFDO
6PLWKV
0HGLFDO
6DQMLY
VNXPDU#P\FRPHGLFDOFRP
.XPDU
-XOLHW
MXOLHWODUVRQ#VPLWKV
PHGLFDOFRP
/DUVRQ
0DWWKHZ
7HOHIOH[
PDWWWRXFK#WHOHIOH[FRP
7RXFK
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI0DUFK)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWKDOOVXSSOLHUV
1HZ
3325 3325
3325 3325
&XUUHQWDJUHHPHQWVZLWK%' 3325 DQG&DUGLQDO 3325 H[SLUH-DQXDU\
8SGDWH0DUFK$OOFRQWUDFWVLQWKH
5HJLRQDO$QHVWKHVLD7UD\VFDWHJRU\KDYH
EHHQH[WHQGHGRQHPRQWKDQGQRZH[SLUH
)HEUXDU\
8SGDWH0DUFK0<&20HGLFDOLVD
6(('6VXSSOLHUPLQRULW\RZQHGEXVLQHVV
HQWHUSULVH 0%( HIIHFWLYH0DUFK
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$OORZHGIRUPHPEHUVZKRRZQDQGFHQWUDOO\PDQDJHIDFLOLWLHVZLWKWKHDELOLW\WRGULYHSXUFKDVLQJGHFLVLRQVZLWK
6PLWKV0HGLFDO
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRI
IDFLOLWLHVZLWK%%UDXQDQG7HOHIOH[
x )DFLOLWLHVPXVWLQGHSHQGHQWO\FRPPLWWRPDUNHWVKDUHUHTXLUHGE\WLHU SHUFHQW ZLWK%%UDXQ
x $JJUHJDWLRQOLPLWHGWRRZQHGOHDVHGDQGPDQDJHGIDFLOLWLHVRI,'1VZLWK7HOHIOH[
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWK6PLWKV0HGLFDODQG7HOHIOH[
3ULFLQJLVILUPZLWK%%UDXQXQOHVVDQXQXVXDOUDZPDWHULDOLQFUHDVHIRUWKLUGSDUW\PDQXIDFWXULQJLWHPVLV
H[SHULHQFHG
)LQDQFLDODQDO\VLVUHYHDOVFRPSDUHGWRH[SLULQJDJUHHPHQWSULFLQJQHZDJUHHPHQWSULFLQJLV
x SHUFHQWKLJKHUZLWK%%UDXQ
x SHUFHQWKLJKHUZLWK6PLWKV0HGLFDO
x )ODWIRU7HOHIOH[
$OOVXSSOLHUVKDYHPLQLPXPRUGHUUHTXLUHPHQWWKUHVKROGV6HHWHUPVDQGFRQGLWLRQVLQWKHYDOXHDQDO\VLVWRRONLW
6PLWKV0HGLFDOLVWKHORZFRVWVXSSOLHU
$YDLODEOHWKURXJKGLVWULEXWLRQ%%UDXQ6PLWKV0HGLFDODQG7HOHIOH[
$YDLODEOHGLUHFW%%UDXQ6PLWKV0HGLFDODQG7HOHIOH[
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
5HJLRQDO$QHVWKHVLD7UD\V
(IIHFWLYH)HEUXDU\
([SLUHV)HEUXDU\
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
6(('6XSGDWHVXPPDU\$3')XSGDWHGRFXPHQWSURYLGLQJLQIRUPDWLRQDERXW6(('6VXSSOLHU V DGGHGWRWKH
FDWHJRU\7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRU\
x 'LVSRVDEOH$QHVWKHVLD3URGXFWV'LVSRVDEOHDQHVWKHVLDSURGXFWVDQGDFFHVVRULHVDUHXVHGWRDGPLQLVWHU
JHQHUDODQHVWKHVLDWRVXUJLFDOSDWLHQWV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6HGDWLRQ0RQLWRULQJ(IIHFWLYH$XJXVW
([SLUHV1RYHPEHU
3URGXFWVDYDLODEOH
$ZDUGHGVXSSOLHUV
7KLVFDWHJRU\LQFOXGHVPRQLWRUVDQGVHQVRUVWKDWPHDVXUHWKH
HIIHFWVRIDQHVWKHVLDDQGVHGDWLRQE\PRQLWRULQJERWKVLGHVRIWKH
EUDLQ¶VHOHFWULFDODFWLYLW\ 6XSSOLHU
1HZ
([SLULQJ
3300 3316
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
*UHJ
&RYLGLHQ
JUHJJRRGDOO#FRYLGLHQFRP
*RRGDOO
'DQ
0DVLPR
GEURWKPDQ#PDVLPRFRP
%URWKPDQ
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$XJXVW)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHUDQGKLJKHUZLWKERWKVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
3300 3316
)LQDQFLDOFRQVLGHUDWLRQV
x
x
x
&DSLWDODFTXLVLWLRQSURJUDPV
3ULFHSURWHFWLRQ
3RWHQWLDOLPSDFWWRWLHUSODFHPHQWZKHQ
XVLQJUHSURFHVVHGVHQVRUV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 3DWLHQWFRPIRUW
x )XOOSDWLHQWSRSXODWLRQFRYHUDJH
5RDGEORFNVWRFRQYHUVLRQ
x 6HQVRUVDUHSURSULHWDU\WRPRQLWRUV
x &OLQLFDOSUHIHUHQFH
&RYLGLHQDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVDQG
HVWDEOLVKHGQHWZRUNVZKRRZQDFRQWUROOLQJLQWHUHVWLQWKHDJJUHJDWLQJIDFLOLWLHVRUKDYHH[SUHVVFRQWUDFWXDO
DXWKRULW\WRPDNHSXUFKDVLQJGHFLVLRQVRQEHKDOIRIWKHDJJUHJDWLQJIDFLOLWLHV
0DVLPRDOORZVDJJUHJDWLRQIRUPXOWLIDFLOLW\V\VWHPVZLWKWKHDELOLW\WRFRRUGLQDWHSXUFKDVLQJGHFLVLRQV*32V
DQGHVWDEOLVKHGQHWZRUNV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
3ULFLQJLVILUPIRUWKHWHUPZLWK0DVLPR
3ULFLQJZLWK&RYLGLHQLVILUPIRUPRQWKVWKHUHDIWHUSULFHVPD\EHLQFUHDVHGXSWRSHUFHQWE\OLQH
LWHPIRUHDFKSHUFHQWLQFUHDVHLQUDZPDWHULDOVGXULQJDQ\PRQWKSHULRG
:HLJKWHGILQDQFLDODQDO\VLVUHYHDOVQHZDJUHHPHQWSULFLQJUHPDLQVIODWIRUERWKVXSSOLHUVFRPSDUHGWR
H[SLULQJDJUHHPHQWSULFLQJ
&RYLGLHQRIIHUVPXOWLSOHYDOXHDGGVLQFOXGLQJDTXLFNVWDUWFRQYHUVLRQUHEDWHSURJUDPIRUPHPEHUVZKR
FRQYHUWE\2FWREHU
$YDLODEOHWKURXJKGLVWULEXWLRQ&RYLGLHQ
$YDLODEOHGLUHFW&RYLGLHQDQG0DVLPR
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$ZRUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKHZRUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7R
PDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRU\
x
3XOVH2[LPHWU\&DSLWDOHTXLSPHQWGLVSRVDEOHVVHQVRUVDQGFRQQHFWLQJFDEOHVWKDWDUHXVHGLQWKH
PHDVXUHPHQWPDQDJHPHQWDQGUHFRUGLQJRISDWLHQWR[\JHQDWLRQOHYHOVYLDDQHOHFWURQLFVHQVRUSODFHGRQWKH
SDWLHQW VILQJHUWLSHDUOREHRULQWKHFDVHRIDQHRQDWHDFURVVWKHIRRW
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6OHHS'LDJQRVWLF6HUYLFHV (IIHFWLYH-XQH
([SLUHV0D\
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVRXWVRXUFLQJVOHHSODEVHUYLFHVDQG
PDQDJHPHQWLQDKRVSLWDORUSUDFWLFH6HUYLFHSURYLGHUVVSHFLDOL]HLQ
FRPSOHWHHYDOXDWLRQWHVWLQJGLDJQRVLVDQGWUHDWPHQWRIVOHHS
GLVRUGHUV+RPHWHVWVWXGLHVDUHDOVRLQFOXGHG
&ODVVRIWUDGH
$JUHHPHQWLVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQ
KHDOWKFDUHIDFLOLWLHV
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3369
3369 ,Q0DUFK0HG%ULGJHFRPSOHWHGLWV
PHUJHUZLWK6OHHS6HUYLFHVRI$PHULFD
&XUUHQWDJUHHPHQWVZLWK&OHYHODQG0HGLFDO
3369 )ORULGD$SQHD'LDJQRVWLFV 33
'UHZ
0HG%ULGJH
GEUHQQDQ#PHGEULGJHJURXSFRP 69 0HGLFDO'HFLVLRQ 3369 %UHQQDQ
3HUVDQWH6OHHS&DUH 3369 H[SLUHV
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI)HEUXDU\)RUXS
0D\
WRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
7KHDJUHHPHQWZLWK6OHHS0HGH[SLUHG
+RZWRRSHUDWLRQDOL]HWKLVDJUHHPHQW
6HSWHPEHU
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVQRWUHTXLUHGGXHWRDVLQJOHWLHURIIHULQJ
)LQDQFLDOFRQVLGHUDWLRQV
x 0HGLFDUHDQG0HGLFDLG
$JJUHJDWLRQRSSRUWXQLWLHV
UHLPEXUVHPHQW
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
x
'\QDPLFSULFLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
2WKHUNH\YDOXHDQGWHUPV
x /DEDFFUHGLWDWLRQ
x 3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQW
x +RPHWHVWVYHUVXVLQODEWHVWV
x '\QDPLFSULFLQJLVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU0HPEHUV
x $ELOLW\WRXVHFRPSHWLWRU¶V
VKRXOGDQVZHUWKHTXHVWLRQVRQ([KLELW$6HUYLFH3ULFH/LVW
HTXLSPHQWLQIDFLOLW\¶VVOHHSODE
DQGWKH([KLELW$ZLOOFDOFXODWHWKHLUIDFLOLW\¶VSULFHSHUWHVW
3ULFLQJYDULHVEDVHGRQVHUYLFHVUHTXHVWHGDQGWKHIDFLOLW\¶V
5RDGEORFNVWRFRQYHUVLRQ
VWDWH¶VODERUUDWHV
x &DSLWDOFRQVWUXFWLRQEXGJHW
x %DVHGRQWKHFXVWRPL]DEOHQDWXUHRIWKLVFDWHJRU\DILQDQFLDO
FRQVWUDLQWV
DQDO\VLVLVQRWDYDLODEOH
x )DFLOLW\XVHVRZQVWDIIWRSURYLGH
x 0HG%ULGJHUHTXLUHVWKDWPHPEHUVSURYLGHWKHODVWPRQWKVRI
VOHHSGLDJQRVWLF
YROXPHIRUWKHVHUYLFHVUHTXHVWHGDQGRUKDYHDPLQLPXP
x /RFDOUHODWLRQVKLSV
PRQWKO\DYHUDJHVWXG\YROXPHRIVWXGLHVSHUPRQWKSHUEHG
x $YDLODEOHGLUHFW0HG%ULGJH
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRU\
x
3RO\VRPQRJUDSK\ 36* DQG1HXURORJLFDO(TXLSPHQWDQG$FFHVVRULHV36*DQDO\]HUVDUHXVHGIRU
WKHGLDJQRVWLFHYDOXDWLRQRIVOHHSRUVOHHSUHODWHGGLVRUGHUVZKLOHQHXURORJLFDOHTXLSPHQWLVXVHGWR
PHDVXUHWKHVWDWXVDQGIXQFWLRQRIWKHFHQWUDODQGSHULSKHUDOQHUYRXVV\VWHPVRISDWLHQWVLQDYDULHW\RI
VHWWLQJV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6SHFLDOW\'LVWULEXWLRQ5HVSLUDWRU\7KHUDS\DQG$QHVWKHVLD3URGXFWV
(IIHFWLYH-DQXDU\
([SLUHV-XO\
3URGXFWVDQGVHUYLFHVDYDLODEOH
$ZDUGHGGLVWULEXWRUV
7KLVFDWHJRU\RIIHUVPHPEHUVWKHRSWLRQWRSXUFKDVHUHVSLUDWRU\
WKHUDS\DQGDQHVWKHVLDSURGXFWVIURPPXOWLSOHVXSSOLHUVWKURXJKD
VSHFLDOW\GLVWULEXWRU
6XSSOLHU
7ULDQLP+HDOWK %HQ
EHQFULJOHU#VDUQRYDFRP
6HUYLFHV
&ULJOHU
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI6HSWHPEHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVQRWUHTXLUHGIRUWKLVDJUHHPHQWGXHWRVLQJOHWLHU
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVQRWDSSOLFDEOHGXHWRVLQJOHWLHURIIHULQJIURP7ULDQLP
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
7KHDJUHHPHQWLQFOXGHVWKHGLVWULEXWRUV¶WRSSURGXFWV$OO
RWKHUSURGXFWVPXVWEHORFDOO\QHJRWLDWHG
3URGXFWVDUHRIIHUHGWKURXJKDVLQJOH3UHPLHU7LHU
/RZXQLWRIPHDVXUH /80 SXUFKDVHVIURPWKHGLVWULEXWRUPD\
LPSDFWWKHILQDOSULFHRIWKHSURGXFW6HHWKH/80WDEOHIRU
PDUNXSDGMXVWPHQWDQGIHHLQIRUPDWLRQIRU/80RUGHUV
7ULDQLPSULFLQJLVILUPIRUWKHILUVWPRQWKV
7ULDQLPSURYLGHVVHUYLFHVQDWLRQZLGH
([SLULQJ
33'6
33'6
7KHFXUUHQWDJUHHPHQWZLWK&XVWRPHG 33'6
ZLOOH[SLUH'HFHPEHU
&ODVVRIWUDGH
7KHDJUHHPHQWLVDYDLODEOHIRUDFXWHFDUHFRQWLQXXPRIFDUHDQG3UHPLHU
5($&+PHPEHUV
1HZ
)LQDQFLDOFRQVLGHUDWLRQV
x 3ULFLQJ
x 6KLSSLQJDQGIUHLJKW
x 3D\PHQWWHUPV
3URGXFWDQGGLVWULEXWLRQFRQVLGHUDWLRQV
x &XUUHQWUHVSLUDWRU\WKHUDS\DQG
DQHVWKHVLDSURGXFWVXVHGLQ\RXU
IDFLOLW\
x ([LVWLQJGLVWULEXWLRQDJUHHPHQWV\RXU
RUJDQL]DWLRQKDVWKDWPD\LQFOXGH
UHVSLUDWRU\WKHUDS\DQGDQHVWKHVLD
SURGXFWV
x 2QO\WKHGLVWULEXWRUV¶WRSSURGXFWV
KDYHSULFLQJQHJRWLDWHGZLWKLQWKH
3UHPLHUDJUHHPHQW7KHUHVWRIWKH
SURGXFWVZLOOQHHGWREHORFDOO\
QHJRWLDWHG
)XOOODXQFKFRQWHQWDYDLODEOH
x
x
3')FDWHJRU\VXPPDU\$3')YHUVLRQRIWKHVXPPDU\WKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
0RGLILDEOHFDWHJRU\VXPPDU\$0LFURVRIW:RUGYHUVLRQRIWKHVXPPDU\WKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
7RPDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')FDWHJRU\VXPPDU\
5HODWHGFDWHJRULHV
x
x
5HVSLUDWRU\7KHUDS\3URGXFWV3HDNIORZPHWHUVLQFHQWLYHVSLURPHWHUV0',KROGLQJFKDPEHUV VSDFHUV QHEXOL]HUVDQGGLVSRVDEOHVXSSOLHVVXFWLRQFDWKHWHUVPXFRXVWUDSVQRQYHQWHGPDVNV&3$3DQG%L/HYHO
PDVNVR[\JHQGHOLYHU\GLVSRVDEOHVGLVSRVDEOHYHQWLODWRUVXSSOLHVKXPLGLILFDWLRQSURGXFWVDQGUHVXVFLWDWLRQ
EDJV
'LVSRVDEOH$QHVWKHVLD3URGXFWV$QHVWKHVLDIDFHPDVNVILOWHUVEUHDWKLQJFLUFXLWVEDJVJDVVDPSOLQJOLQHV
DQGRUDODLUZD\VWRDGPLQLVWHUJHQHUDODQHVWKHVLDWRVXUJLFDOSDWLHQWV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6SHFLDOW\'LVWULEXWLRQ6XWXUHDQG(QGRPHFKDQLFDO3URGXFWV
(IIHFWLYH-DQXDU\
([SLUHV'HFHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\RIIHUVPHPEHUVDQRWKHURSWLRQWRSXUFKDVHVXWXUHDQG
HQGRPHFKDQLFDOSURGXFWVIURPPXOWLSOHVXSSOLHUVWKURXJKDVSHFLDOW\
GLVWULEXWRU
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
-DVRQ
3HGDFL
MDVRQSHGDFL#VXWXUHH[SUHVVFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI6HSWHPEHU)RU
XSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
+RZWRRSHUDWLRQDOL]HWKLVDJUHHPHQW
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHU
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
6XSSOLHU
&ODVVRIWUDGH
6XWXUH
([SUHVV
$ZDUGHGVXSSOLHUV
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQW
6XWXUH([SUHVV¶QHZDJUHHPHQWSULFLQJRIIHUVSHUFHQW
VDYLQJVRIIWKHWRSWLHUSULFHFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
SULFLQJ
3URGXFWVDUHDYDLODEOHGLUHFWIURP6XWXUH([SUHVV
1HZ
([SLULQJ
33'6
33'6
6XWXUH([SUHVVLVDVPDOOEXVLQHVVHQWHUSULVH
6%( )LQDQFLDOFRQVLGHUDWLRQV
x &RVWSOXVPDUNXSSHUFHQWDJHV
x 3D\PHQWWHUPLPSDFWWRFRVWSOXV
PDUNXSSHUFHQWDJHV
x 0LVFHOODQHRXVIHHVVXFKDV
DQWLFLSDWHGVKLSSLQJFRVWV
5RDGEORFNVWRFRQYHUVLRQ
x &XUUHQWVXWXUHDQG
HQGRPHFKDQLFDOSURGXFWVXVHGLQ
\RXUIDFLOLW\
x ([LVWLQJGLVWULEXWRUDJUHHPHQWV
\RXURUJDQL]DWLRQKDVWKDWLQFOXGH
VXWXUHDQGHQGRPHFKDQLFDO
SURGXFWV
x 6XWXUHDQGHQGRPHFKDQLFDO
SXUFKDVHUHTXLUHPHQWVWKDWPD\
H[LVWZLWKLQ\RXUIDFLOLW\¶VFXUUHQW
GLVWULEXWLRQDJUHHPHQWV
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWH
LQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRULHV
x
x
(QGRPHFKDQLFDO7URFDU6XWXUHDQG7RSLFDO6NLQ$GKHVLYH'HYLFHVWKDWDUHXVHGWRDVVLVWLQRSHQDQG
FORVHGVXUJLFDOSURFHGXUHVDQGSURGXFWVWRFORVHZRXQGV
0HGLFDODQG6XUJLFDO3URGXFWV'LVWULEXWLRQ0HGLFDODQGVXUJLFDO,9WKHUDS\MDQLWRULDODQGVDQLWDWLRQVXWXUH
DQGHQGRPHFKDQLFDODQGSULYDWHODEHOSURGXFWV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6WUHWFKHUV(IIHFWLYH0DUFK
([SLUHV)HEUXDU\
3URGXFWVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVDOOW\SHVRIVWUHWFKHUVDQGVWUHWFKHU
DFFHVVRULHVLQFOXGLQJWUHDWPHQWDQGWUDQVSRUWVWUHWFKHUFKDLUV
&ODVVRIWUDGH
$JUHHPHQWVDUHDYDLODEOHWRDFXWHFDUHFRQWLQXXPRIFDUHDQG
3UHPLHU5($&+PHPEHUV
+LOO5RP
5LFN+ROPHV ULFNKROPHV#KLOOURPFRP 6WU\NHU
(G+DUULV
HGKDUULV#VWU\NHUFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI1RYHPEHU)RUXS
WRGDWHFRQWDFWLQIRUPDWLRQVHHWKHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') HOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGIRU7LHURUKLJKHUZLWK6WU\NHU
+LOO5RPUHTXLUHVD30')3$IRUDOOWLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVDEOHWR
LQIOXHQFHSXUFKDVHGHFLVLRQVZLWK+LOO5RP
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVDQGHVWDEOLVKHG
QHWZRUNVRIIDFLOLWLHVDEOHWRLQIOXHQFHSXUFKDVHGHFLVLRQVZLWK
6WU\NHU$WOHDVWSHUFHQWRIIDFLOLWLHVPXVWPHHWWLHUSXUFKDVH
UHTXLUHPHQWV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3300
3300
3300
3300
7KHFXUUHQWDJUHHPHQWZLWK3HGLJR 3300 ZLOOH[SLUH)HEUXDU\
)LQDQFLDOFRQVLGHUDWLRQV
x 3D\PHQWWHUPVDQGHDUO\SD\PHQW
GLVFRXQWV
x 0LQLPXPRUGHUUHTXLUHPHQWV
x 6KLSSLQJWHUPV
x 9DOXHDGGV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x 6SHFLILFSDWLHQWSRSXODWLRQGHVLJQV
VXFKDVSHGLDWULFDQGEDULDWULF
x ,PSDFWWRSDWLHQWWKURXJKSXW
x 3RZHUK\GUDXOLFDQGSRVLWLRQLQJRSWLRQV
DYDLODEOH
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJVWUHWFKHUDJUHHPHQWVLQ\RXU
IDFLOLW\
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWKERWKVXSSOLHUV
6WU\NHUZLOOJUDQGIDWKHUPHPEHU¶VWHUPVDQGSULFLQJIRUWKHWHUPRIWKHLUPHPEHUDJUHHPHQW
+LOO5RPDQG6WU\NHUERWKRIIHUHQKDQFHGDJJUHJDWLRQYDOXHDGGGLVFRXQWV
$YDLODEOHGLUHFW+LOO5RPDQG6WU\NHU
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDYDLODEOH
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW $0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ7R
PDLQWDLQOLQNLQWHJULW\SOHDVHXVHWKH3')YDOXHDQDO\VLVWRRONLW
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHUUHVRXUFHV
7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6XUJLFDO,UULJDWLRQ6ROXWLRQV
(IIHFWLYH$SULO
([SLUHV0DUFK
3URGXFWVDQGVHUYLFHVDYDLODEOH
6WHULOHVXUJLFDOVROXWLRQVXVHGWRLUULJDWHDQGFOHDQVHWKHVXUJLFDOVLWH
GXULQJVXUJLFDOSURFHGXUHV7KLVSURFHVVUHPRYHVEDFWHULDSDUWLFOHV
DQGGHEULV
7KLVDJUHHPHQWLVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQG
QRQKHDOWKFDUHIDFLOLWLHV
*HQH5LWWHU
JHQHU#LUULVHSWFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI'HFHPEHU)RU
XSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFH
DFWLYDWLRQ 3$ LVQRWUHTXLUHGGXHWRVLQJOHWLHURIIHULQJ
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJ
RUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
6XSSOLHU
1HZ
([SLULQJ
3325 33$&
,UULPD[LVDVPDOOEXVLQHVVHQWHUSULVH 6%( &ODVVRIWUDGH
,UULPD[
$ZDUGHGVXSSOLHU
3URGXFWVLQWKLVFDWHJRU\ZHUHSUHYLRXVO\
LQFOXGHGLQWKH6NLQ,QWHJULW\3UHYHQWLRQ
+HDOLQJDQG6XSSRUWFDWHJRU\
)LQDQFLDOFRQVLGHUDWLRQV
x 7KHFRVWRIVXUJLFDOVLWHLQIHFWLRQV
x 7KHFRVWRIZRXQGFDUHWUHDWPHQW
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x $SSURSULDWHSURGXFWXVDJH
x 6XUJLFDOVLWHLQIHFWLRQUDWHV
x &OLQLFDOVWXG\ILQGLQJV
5RDGEORFNVWRFRQYHUVLRQ
x 3URGXFWVFXUUHQWO\EHLQJXVHGLQ
WKHIDFLOLW\
x &XUUHQWVXSSOLHUUHODWLRQVKLSV
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQW
,UULPD[¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
,UULPD[RIIHUVDWZRSHUFHQWHDUO\SD\PHQWGLVFRXQW6HHWKHYDOXHDQDO\VLVWRRONLWIRUPRUHGHWDLOV
$YDLODEOHWKURXJKGLVWULEXWLRQ,UULPD[
$YDLODEOHGLUHFW,UULPD[
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRULHV
x
x
x
x
6NLQ,QWHJULW\6NLQ&OHDQVHU%DUULHUDQG/RWLRQ3URGXFWV3URGXFWVXVHGRQDSDWLHQWWRLPSURYHPDLQWDLQ
SURWHFWDQGSURPRWHKHDOLQJRIWKHSDWLHQW¶VGHUPDODQGHSLGHUPDOVNLQ
6NLQ,QWHJULW\&RPSUHVVLRQ:UDSV3URGXFWVXVHGLQWKHWUHDWPHQWDQGSUHYHQWLRQRIHGHPDYHQRXV
LQHIILFLHQFLHVDQGO\PSKDWLFGLVRUGHUVRIH[WUHPLWLHV
6NLQ,QWHJULW\3ULPDU\6HFRQGDU\:RXQG&DUH'UHVVLQJV'UHVVLQJVWKDWDUHFDWHJRUL]HGDVWKHIROORZLQJ
SULPDU\GUHVVLQJVWKDWFRPHLQGLUHFWFRQWDFWZLWKZRXQGEHGVHFRQGDU\GUHVVLQJVZKLFKDUHXVHGWRFRYHUD
SULPDU\GUHVVLQJ
&KORUKH[LGLQH*OXFRQDWH &+* 6NLQ3UHS3URGXFWV$PLQLPXPWZRSHUFHQWFKORUKH[LGLQHJOXFRQDWH &+* DQGSHUFHQWLVRSURS\ODOFRKRO ,6$ FKHPLFDODQWLVHSWLFSURGXFWVDQGVROXWLRQV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6XWXUH3URGXFWV
(IIHFWLYH$SULOWKURXJK0DUFK
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVVXWXUHV±WKUHDGVRIPDWHULDOXVHGWRMRLQWKHHGJHV
RIDZRXQGRULQFLVLRQRUWRWLHEORRGYHVVHOV6XWXUHPD\KDYHDWWDFKHG
QHHGOHVRUEHQHHGOHOHVVWKHPDWHULDOFDQEHHLWKHUDEVRUEDEOHRUQRQ
DEVRUEDEOH
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDWDOOWLHUVZLWK(WKLFRQ
$30')3$LVUHTXLUHGDW7LHURUKLJKHUZLWK7HOHIOH[
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$ZDUGHGVXSSOLHU
1HZ
6XSSOLHU
FRQWUDFW
([SLULQJ
FRQWUDFW
3325 3325
3325 3325
&XUUHQWDJUHHPHQWVZLWK$HVFXODS 3325
DQG6XUJLFDO6SHFLDOWLHV 3325 H[SLUH0DUFK
$6&(1'7KHUHLVQR$6&(1'DZDUGLQWKLV
FDWHJRU\
$JJUHJDWLRQLVDOORZHGIRURZQHGOHDVHGRUPDQDJHG 2/0 KRVSLWDOVVXUJHU\FHQWHUVDQGRZQHGDOWHUQDWHFDUHIDFLOLWLHV
SK\VLFLDQVDQGFOLQLFV ZLWK(WKLFRQ
x (WKLFRQPD\UHTXLUHV\VWHPVWRVXEPLWSURRIWKDWDOOIDFLOLWLHVRQWKH30')DUH2/0V\VWHPVPXVWKDYH
DXWKRULW\WRVLJQDQGFRPPLWRQEHKDOIRIHYHU\2/0IDFLOLW\
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQG DW7HOHIOH[¶VGLVFUHWLRQ HVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVZLWK7HOHIOH[
&ODVVRIWUDGH
x
x
(WKLFRQ¶VDJUHHPHQWLVDYDLODEOHWRDFXWHFDUHKRVSLWDOVVXUJHU\FHQWHUVDQGDOWHUQDWHFDUHIDFLOLWLHV LQFOXGLQJQRQ
KRVSLWDOVQRQUHWDLOPHGLFDOIDFLOLWLHVIUHHVWDQGLQJHPHUJHQF\GHSDUWPHQWVSK\VLFLDQJURXSVDQGFOLQLFV 7HOHIOH[¶VDJUHHPHQWLVDYDLODEOHWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHVSURYLGHGSURGXFWVDUH
XVHGLQSURIHVVLRQDOKHDOWKFDUHVHWWLQJVXQGHUWKHRUGHURIDSK\VLFLDQRURWKHUOLFHQVHGSUDFWLWLRQHU
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
7LHUVWKURXJKSULFLQJLVILUPRIWKHWHUPRIWKHDJUHHPHQWZLWK(WKLFRQ7LHUVWKURXJKSULFLQJLQFOXGHV
GLVFRXQWVWKDWDUHDSSOLHGWROLVWSULFHDWWLPHRIVDOH(WKLFRQPD\FKDQJHOLVWSULFHDWDQ\WLPH
3ULFLQJLVILUPIRUWKHWHUPRIWKHDJUHHPHQWZLWK7HOHIOH[
)LQDQFLDODQDO\VLVUHYHDOV
x (WKLFRQ¶VQHZDJUHHPHQWSULFLQJKDVDQRYHUDOOSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 7HOHIOH[¶VQHZDJUHHPHQWSULFLQJKDVDQRYHUDOOSHUFHQWLQFUHDVHFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
x 7HOHIOH[LVWKHORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ(WKLFRQ7HOHIOH[
$YDLODEOHGLUHFW(WKLFRQ7HOHIOH[
6XSSOLHUFRQWDFWLQIRUPDWLRQ
x
x
-RKQVRQ -RKQVRQ+HDOWK&DUH6\VWHPV,QF (WKLFRQ 7LP+LQXHEHUWKLQXHEH#LWVMQMFRP
7HOHIOH[0HGLFDO,QFRUSRUDWHG0DWW7RXFKPDWWWRXFK#WHOHIOH[FRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-DQXDU\)RUXSWRGDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ
$GYLVRU
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
6XWXUH3URGXFWV
(IIHFWLYH$SULOWKURXJK0DUFK
5HODWHGFDWHJRULHV
x
x
x
x
x
(QGRPHFKDQLFDO3URGXFWV'HYLFHVVXFKDVLQWHUQDODQGH[WHUQDOFXWWHUVVWDSOHUVGLVSRVDEOHODSDURVFRSLFLQVWUXPHQWV
ZRXQGDQGVNLQFORVXUHXVHGWRDVVLVWLQRSHQDQGODSDURVFRSLFVXUJLFDOSURFHGXUHV
.QRWOHVV7LVVXH&ORVXUH'HYLFHV3URGXFWVWKDWDOORZZRXQGFORVXUHWKURXJKELGLUHFWLRQDORUXQLGLUHFWLRQDOIL[DWLRQ
EDUEVZLWKLQWKHVXWXUHGHYLFHGLVWULEXWHWHQVLRQDFURVVWKHOHQJWKRIWKHWLVVXHEHLQJDSSUR[LPDWHO\WKXVHOLPLQDWLQJWKH
QHHGIRULQWHUUXSWHGVXWXUHRUW\LQJNQRWV
6XUJLFDO(QHUJ\3URGXFWV3URGXFWVXVHGWRFXWWLVVXHDQGFDXWHUL]HEOHHGLQJYHVVHOVLQVXUJLFDOSURFHGXUHV
7RSLFDO6NLQ$GKHVLYHV/LTXLGDGKHVLYHVXVHGLQSODFHRIVXWXUHVRUVWDSOHVWRFORVHDQGVHDOZRXQGVFDXVHGE\
ODFHUDWLRQVRIVXUJLFDOLQFLVLRQV
7URFDU3URGXFWV'HYLFHVXVHGDVDQDFFHVVSRLQWGXULQJODSDURVFRSLFVXUJHU\WKHVHGHYLFHVIXQFWLRQDVDSRUWDOIRUWKH
VXEVHTXHQWSODFHPHQWRIRWKHULQVWUXPHQWVVXFKDVJUDVSHUVVFLVVRUVDQGLQWHUQDOVWDSOHUV
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOHLQ6XSSO\&KDLQ$GYLVRU
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQIRU
PHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
x 3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
x 3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
9HLQ)LQGHU(TXLSPHQW
(IIHFWLYH2FWREHU
([SLUHV6HSWHPEHU
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVYHLQILQGHUGHYLFHVGHVLJQHGIRUWKH
SHUFXWDQHRXVORFDWLRQRIYHLQV'HYLFHVDUHDYDLODEOHLQDYDULHW\RI
VKDSHVVL]HVDQGWHFKQRORJLHVDFFRUGLQJWRWKHLQWHQGHGYHLQVWREH
ORFDWHGDQGRUWKHSURFHGXUHWREHSHUIRUPHG9HLQORFDWRUHTXLSPHQW
XWLOL]HVWUDQVLOOXPLQDWLRQDQGLQIUDUHGEDVHGLPDJLQJPHFKDQLVPVWR
ORFDWHGHHSYHLQV7KHVHGHYLFHVDUHSDUWLFXODUO\XVHIXOLQWKH
QHRQDWDODQGSHGLDWULFFOLQLFDOVHWWLQJV
&ODVVRIWUDGH
$JUHHPHQWVZLWK$FFX9HLQDQG9XHWHNDUHDYDLODEOHWRDFXWHFDUH
QRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV&KULVWLH0HGLFDO¶V
DJUHHPHQWLVDYDLODEOHWRDFXWHFDUHDQGQRQDFXWHKHDOWKFDUHRQO\
0RQLFD
PMXJRYLF#DFFXYHLQFRP
-XJRYLF
&KULVWLH
*HRUJH
JHRUJHSLQKR#FKULVWLHGLJLWDOFRP
0HGLFDO
3LQKR
'RXEODV
9XHWHN
GPRUDQ#YXHWHNVFLHQWLILFFRP
0RUDQ
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI-XQH)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
$FFX9HLQ
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
([SLULQJ
3300
$600 3300
3300 3300
3300 3300
$FFXYHLQDQG9XHWHNDUHVPDOOEXVLQHVV
HQWHUSULVHV 6%( 8SGDWH2FWREHU7KHFRQWUDFWZLWK9XH7HN
LQWKH9HLQ)LQGHU(TXLSPHQWFDWHJRU\KDVEHHQ
FDQFHOOHGDQGQRZH[SLUHV-DQXDU\
$6&(1'7KLVFDWHJRU\KDVEHHQ
GHVLJQDWHGDVULGJH9LVLWWKH$6&(1'SRUWDO
IRU$6&(1'ODXQFKPDWHULDOV
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK
DOOVXSSOLHUV
$JJUHJDWLRQRSSRUWXQLWLHV
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
ZLWKDOOVXSSOLHUV
2WKHUNH\YDOXHDQGWHUPV
x
x
x
x
x
x
x
x
$FFX9HLQ¶VQHZDJUHHPHQWSULFLQJLVIODWFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
$FFX9HLQRIIHUVWKHIROORZLQJYDOXHDGGV
x $QRQVLWHQXUVHHGXFDWRUIRULQVHUYLFHWUDLQLQJ
x 2QOLQHGHYLFHWUDLQLQJ
&KULVWLH0HGLFDOZLOOJUDQGIDWKHUFXUUHQWSULFLQJRURIIHUWKHORZHUSURGXFWSULFLQJIRUPHPEHUVFXUUHQWO\
SXUFKDVLQJIURP3300
&KULVWLH0HGLFDO¶VQHZDJUHHPHQWSULFLQJRIIHUVXSWRDSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQW
SULFLQJ
9XHWHN¶VQHZDJUHHPHQWSULFLQJRIIHUVXSWRDSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
9XHWHNLVWKHORZFRVWVXSSOLHURQFURVVHGLWHPV
$YDLODEOHWKURXJKGLVWULEXWLRQ&KULVWLH0HGLFDO9XHWHN
$YDLODEOHGLUHFW$FFX9HLQ&KULVWLH0HGLFDO9XHWHN
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
3URGXFWFURVVUHIHUHQFH$Q([FHOVSUHDGVKHHWUHIHUHQFHLGHQWLI\LQJSURGXFWFRPSDULVRQVDQGIXQFWLRQDO
HTXLYDOHQWV%RWKQRQDZDUGHGVXSSOLHUDQGDZDUGHGVXSSOLHUSURGXFWLQIRUPDWLRQDUHLQFOXGHG
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
9HQWLODWRUV
(IIHFWLYH-XO\
([SLUHV-XQH
3URGXFWVDQGVHUYLFHVDYDLODEOH
7KLVFDWHJRU\LQFOXGHVLQWHQVLYHFDUHKLJKIUHTXHQF\RVFLOODWRU\
WUDQVSRUWSRUWDEOH05,FRQGLWLRQDODQGPDVVFDVXDOW\YHQWLODWRUV
DVVRFLDWHGDFFHVVRULHVDQGSURSULHWDU\FLUFXLWV
$ZDUGHGVXSSOLHUV
6XSSOLHU
1HZ
3300 3300
&ODVVRIWUDGH
x
x
$JUHHPHQWVZLWKDOOVXSSOLHUVDUHDYDLODEOHWRDFXWHFDUHQRQ
DFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
&RYLGLHQH[FOXGHVUHWDLODQGFODVVHVRIWUDGHQRWLQYROYHGLQ
WKHGHOLYHU\RIKHDOWKFDUHLQKXPDQV
&DUH)XVLRQ &KXFN&ROOLV
FKDUOHVFROOLV#EGFRP
JUHJMJRRGDOO#PHGWURQLFFR
P
&RYLGLHQ
*UHJ*RRGDOO 'UDHJHU
/DULVVD.UDXV ODULVVDNUDXV#GUDHJHUFRP
*(
+DPLOWRQ 0$48(7
/LQGVD\
$UDQKD
&KULV
1HLJKERUV
OLQGVD\DUDQKD#JHFRP
FKULVQHLJKERUV#KDPLOWRQPH
GLFDOQHW
+RZWRRSHUDWLRQDOL]HWKHVHDJUHHPHQWV
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLF
SULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHURUKLJKHUZLWK
&DUH)XVLRQ&RYLGLHQ'UDHJHU*(DQG+DPLOWRQ
0$48(7UHTXLUHVD30')3$DWDOOWLHUV
&RYLGLHQUHTXLUHVD3ULPDU\*URXS'HVLJQDWLRQ)RUP 3*') IRUPHPEHUVZKRGRQRWDOUHDG\KDYHRQHRQILOH
$JJUHJDWLRQRSSRUWXQLWLHV
x
x
$JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXS
SXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV
ZLWK&DUH)XVLRQ'UDHJHU*(+DPLOWRQDQG0$48(7
&RYLGLHQDOORZVDJJUHJDWLRQIRUPXOLWIDFLOLW\V\VWHPVDQG
HVWDEOLVKHGQHWZRUNVRIIDFLOLWLHVWKDWVHHNWRVWDQGDUGL]H
YHQGRUXVDJHDFURVVWKH*32
2WKHUNH\YDOXHDQGWHUPV
x
x
3300 3300
3300 3300
*
3300
1HZ
3300 3300
3300 3300
+DPLOWRQLVDVPDOOEXVLQHVVHQWHUSULVH 6%( 3UHPLHUUHVHUYHVWKHULJKWWRDGGVXSSOLHUVDWDQ\WLPH
GXULQJWKHFRQWUDFWLQJF\FOH
0LFKDHO6PLWK PLNHVPLWK#JHWLQJHFRP
1RWH6XSSOLHUFRQWDFWLQIRUPDWLRQLVFXUUHQWDVRI$SULO)RUXSWR
GDWHFRQWDFWLQIRUPDWLRQVHHVXSSOLHU¶VGHWDLOWDELQ6XSSO\&KDLQ$GYLVRU
x
([SLULQJ
)LQDQFLDOFRQVLGHUDWLRQV
x 3URGXFWZDUUDQWHHV
x 0LQLPXPRUGHUIHHV
x )HHVDVVRFLDWHGZLWKDXWKRUL]HG
GLVWULEXWRUV
3DWLHQWVDIHW\DQGVDWLVIDFWLRQ
x $ODUPIXQFWLRQV
x %DWWHU\OLIH
x 9HQWLODWRUDVVRFLDWHGHYHQWSURWRFROV
x (DVHRIVHWXSRSHUDWLRQ
x 3DWLHQWSRSXODWLRQ HJQHRQDWHV x 3URGXFWOLIHF\FOH
x 3URGXFWLQWHUDFH
5RDGEORFNVWRFRQYHUVLRQ
x ([LVWLQJDJUHHPHQWVDQGSURGXFWV
XVHGLQ\RXUIDFLOLW\
x 3URSULHWDU\YHQWLODWRUFLUFXLWVDQG
FRQVXPDEOHV
(DUO\SD\PHQWGLVFRXQWVDUHDYDLODEOHZLWK'UDHJHUDQG
+DPLOWRQ
3ULFLQJLVILUPIRUWKHWHUPRIDJUHHPHQWZLWK&DUH)XVLRQ'UDHJHU*(+DPLOWRQDQG0$48(7
x &RYLGLHQSULFLQJLVILUPIRUPRQWKV3ULFHVPD\WKHQLQFUHDVHE\XSWRSHUFHQWRQDOLQHLWHPEDVLV
IRUHDFKSHUFHQWLQFUHDVHLQDJJUHJDWHFRVW
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
9HQWLODWRUV
(IIHFWLYH-XO\
([SLUHV-XQH
2WKHUNH\YDOXHDQGWHUPV FRQWLQXHG x
x
x
x
x
x
x
x
x
x
x
x
x
x
%LRPHGLFDOWUDLQLQJLVDYDLODEOHIRUSXUFKDVHZLWK&DUH)XVLRQ'UDHJHUDQG*(
x %LRPHGLFDOWUDLQLQJLVSURYLGHGDWQRDGGHGFRVWIRURQHSHUVRQZLWK+DPLOWRQ
x $%LRPHGLFDO7UDLQLQJ$JUHHPHQWLVUHTXLUHGIRUWUDLQLQJZLWK0$48(7
&DUH)XVLRQ¶VQHZDJUHHPHQWRIIHUVIODWSULFLQJFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
'LUHFWRUGHUVOHVVWKDQGHOLYHUHGWRKRVSLWDOVDUHVXEMHFWWRDIHHDQGRUGHUVOHVVWKDQGHOLYHUHG
WRDOWHUQDWLYHVLWHVDUHVXEMHFWWRDIHHZLWK&DUH)XVLRQ
&DUH)XVLRQKDVDODUJHRUGHUWKUHVKROGRI
&RYLGLHQ¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
2UGHUVRIDQ\&RYLGLHQSURGXFWVOHVVWKDQDUHVXEMHFWWRDIHHZLWK&RYLGLHQ
3URGXFWVDYDLODEOHWKURXJKDXWKRUL]HGGLVWULEXWRUVWKDWDUHRUGHUHGGLUHFWWKURXJK&RYLGLHQDUHVXEMHFWWRD
SHUFHQWKDQGOLQJIHH
'UDHJHU¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
+DPLOWRQ¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGLWLWVH[SLULQJDJUHHPHQWSULFLQJ
+DPLOWRQKDVDODUJHRUGHUWKUHVKROGRI
0$48(7¶VQHZDJUHHPHQWSULFLQJRIIHUVSHUFHQWVDYLQJVFRPSDUHGWRLWVH[SLULQJDJUHHPHQWSULFLQJ
6FHQDULRDQDO\VLVUHYHDOVWKHORZFRVWVXSSOLHUYDULHVEDVHGRQWKHSULFLQJVFHQDULR
$YDLODEOHWKURXJKGLVWULEXWLRQ&RYLGLHQ
$YDLODEOHGLUHFW&DUH)XVLRQ&RYLGLHQ'UDHJHU*(+DPLOWRQ0$48(7
1RWH.H\YDOXHDQGWHUPVDUHFXUUHQWDWWLPHRIODXQFK )RUXSWRGDWHLQIRUPDWLRQVHH6XSSO\&KDLQ$GYLVRU
)XOOODXQFKFRQWHQWDQGDGGLWLRQDOUHVRXUFHVDYDLODEOH
x
x
0RGLILDEOHYDOXHDQDO\VLVWRRONLW$0LFURVRIW:RUGYHUVLRQRIWKHWRRONLWWKDWDOORZVIRUHGLWVDQGFXVWRPL]DWLRQ
IRUPHPEHUVSHFLILFQHHGV3OHDVHQRWHWKDWWKHOLQNVLQWKH:RUGYHUVLRQWR3UHPLHUUHVRXUFHVPD\EHEURNHQ
3')YDOXHDQDO\VLVWRRONLW$3')YHUVLRQRIWKHWRRONLWWKDWPDLQWDLQVWKHLQWHJULW\RIOLQNVWR3UHPLHU
UHVRXUFHV7KLVGRFXPHQWLVXQDEOHWREHHGLWHG
5HODWHGFDWHJRULHV
x
x
1RQ,QYDVLYH9HQWLODWRUV&RQWLQXRXVSRVLWLYHDLUZD\SUHVVXUH &3$3 XQLWVELOHYHO EL3$3 XQLWVDQGWKH
DVVRFLDWHGFRQVXPDEOHV
5HVSLUDWRU\7KHUDS\3URGXFWV3HDNIORZPHWHUVLQFHQWLYHVSLURPHWHUV0',KROGLQJFKDPEHUV VSDFHV QHEXOL]HUVDQGGLVSRVDEOHVXSSOLHVVXFWLRQFDWKHWHUVPXFRXVWUDSVQRQYHQWHGPDVNV&3$3DQGELOHYHO
PDVNVR[\JHQGHOLYHU\GLVSRVDEOHVGLVSRVDEOHYHQWLODWRUVXSSOLHVKXPLGLFDWLRQSURGXFWVDQGUHVXVFLWDWLRQ
EDJV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
&XVWRP&RQWUDFWLQJ
'LG\RXNQRZWKDW3UHPLHURIIHUVFXVWRPFRQWUDFWLQJLQSDUWLFXODUDUHDV
RIIRFXV"6HHEHORZIRUDOLVWRIFXVWRPFRQWUDFWVFRPSOHWHGIRU3UHPLHUPHPEHUJURXSV
DQGV\VWHPVWKDWDUHDOVRDYDLODEOHWR\RX
&RQWUDFWQXPEHU
&&69
&&69
&&/$
&&69
&&,7
&&,7
&&)$
&&69
&&69
0XOWLSOHFRQWUDFWQXPEHUV
&DWHJRU\
7UDQVSRUWDWLRQ&RXULHU
.DQEDQ,QYHQWRU\3URGXFWVDQG6HUYLFHV
6SHFLDOW\/DE7HVWLQJ6HUYLFHV
/RJLVWLFV0DQDJHPHQW6HUYLFHV
7HFKQRORJ\$VVHW'LVSRVLWLRQ6HUYLFHV
7HOHFRPPXQLFDWLRQ6HUYLFHV
$UFKLWHFWXUDO5HWURILW6HUYLFHV
&OLQLFDO(GXFDWLRQDQG$VVHVVPHQW6HUYLFHV
&RUUXJDWHGDQG6ROLG)LEHU%R[0DQXIDFWXULQJ
+,06&RGLQJ$XGLWLQJDQG&',6HUYLFHV
6XSSOLHU
0HG6SHHG
3HJDVXV
1HR*HQRPLFV
75,26(
&DVFDGH
*UDQLWH
.HUQH\ $VVRFLDWHV
6,01H[W +HDOWK6FKRODUV 3&$
0XOWLSOHVXSSOLHUV
,QWHUHVWHGLQOHDUQLQJPRUHDERXWWKHVHRSSRUWXQLWLHV"
&RQWDFWFXVWRPBFRQWUDFWLQJ#SUHPLHULQFFRP
,QWHUHVWHGLQFUHDWLQJDFXVWRPFRQWUDFWIRU\RXUV\VWHPRUPHPEHUJURXS"
&RQWDFW\RXU3UHPLHUUHSUHVHQWDWLYH
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
7KURXJKGLUHFWVRXUFLQJ66*OREDOYHUWLFDOO\LQWHJUDWHVWKHVXSSO\FKDLQDQGSURYLGHV
3UHPLHUPHPEHUVZLWKIDFWRU\GLUHFWSURGXFWVPHDQLQJIXOFRVWVDYLQJVDQGLPSURYHG
VXSSO\FKDLQWUDQVSDUHQF\$OO3UHPLHU3URSURGXFWVDUHYDOLGDWHGE\3UHPLHUVWDIIDQG
PHPEHUUHSUHVHQWDWLYHV
&RQWUDFWQXPEHU
3URGXFWRIIHULQJ
&RQWUDFWQXPEHU
3URGXFWRIIHULQJ
336$
:RRGSURGXFWV
3364
,9VLWHPDQDJHPHQWDQGDFFHVVRULHV
336%
6WHWKRVFRSHV
3365
6LQJOHXVHWKHUPRPHWHUV
336&
6XUJLFDODQGLVRODWLRQPDVNV
3300
%ORRGSUHVVXUHFXIIVDQGDFFHVVRULHV
336'
7RXUQLTXHWV
3367
2WRVFRSHWLSV
3316
3HUVRQDOFDUHNLWVDQGFRPSRQHQWV
3368
,FHZUDSV
3325
/DSVSRQJHV25WRZHOVDQG
VSHFLDOW\VSRQJHV
3369
6SHFLPHQEDJV
3316
)DOOPDQDJHPHQWIRRWZHDU
336:
&DVWLQJDQGVSOLQWLQJSURGXFWV
336,
([DPJORYHV
336;
&RKHVLYHEDQGDJHV
336-
'LVSRVDEOHQRQVWHULOHSURWHFWLYH
DSSDUHO
336<
'LVSRVDEOHYDJLQDOVSHFXOXPV
3316
0RELOLW\DLGV
3316
,QFRQWLQHQFHSURGXFWV
336/
8OWUDVRXQGJHO
3325
/DU\QJRVFRSHV\VWHPV
3360
3UHVVXUHLQIXVLRQEDJV
3316
3361
2UWKRSHGLFVRIWJRRGV
33)$
3362
6DIHW\ODQFHWV
3300
3DWLHQWODWHUDOWUDQVIHUGHYLFHV
3363
)HFDORFFXOWEORRG
3325
7RSLFDOVNLQDGKHVLYHV
'LVSRVDEOHODERUDQGGHOLYHU\
SURGXFWV
0LFURILEHUWRZHOVPDWVDQG
DFFHVVRULHV
66*OREDOKLJKOLJKWV
x
x
x
x
x
x
$3DUWLFLSDWLQJ0HPEHU'HVLJQDWLRQ)RUP 30') RUHOHFWURQLFSULFHDFWLYDWLRQ 3$ LVUHTXLUHGDW7LHU $JJUHJDWLRQLVDOORZHGIRUPXOWLIDFLOLW\V\VWHPVJURXSSXUFKDVLQJRUJDQL]DWLRQVDQGHVWDEOLVKHGQHWZRUNVRIIDFLOLWLHV 3DUWLFLSDWLRQLVRSHQWRDFXWHFDUHQRQDFXWHKHDOWKFDUHDQGQRQKHDOWKFDUHIDFLOLWLHV
2QFH\RXKDYHPDGHWKHGHFLVLRQWRSXUFKDVHSOHDVHQRWLI\\RXUGLVWULEXWRURI\RXULQWHQWWRSXUFKDVHWKHVH
SURGXFWV
$GGLWLRQDOVDYLQJVPD\EHDFKLHYHGWKURXJKGLUHFWRUGHURSWLRQV
6SHDNZLWK\RXU3UHPLHUUHJLRQGLUHFWRURU66*OREDOUHSUHVHQWDWLYHUHJDUGLQJWULDOVDPSOHVDQGRUGLUHFWRUGHU
VDYLQJVRSWLRQV
35235,(7$5<$1'&21),'(17,$/%<35(0,(5+($/7+&$5($//,$1&(/3
7+,6'2&80(170$<127%(5(352'8&(',1$1<)250:,7+2877+((;35(663(50,66,212)35(0,(5+($/7+&$5($//,$1&(/3
| Diversity
Premier’s supplier diversity initiatives recognize and track
the following classifications (diverse and small business suppliers):
small business enterprises (SBE) and minority (MBE),
woman (WBE) and veteran-owned (VET) enterprises.
We are committed to building a portfolio of contracted products
and services that mirrors the demographics of the communities
our members serve.
In 2017, Premier members spent $711 million on products and
services from diverse suppliers.
67
217 10
CY2017
MBE
$125 million
SBE
VET
$500 million
$9 million
41
WBE
$30 million
SEEDS (Sourcing Education and Enrichment for Diverse and Small Suppliers)
The program provides contracted suppliers with experienced resources and educational tools
intended to assist in gaining contract sales and building long-term relationships across the alliance.
Contract launguage protection for members looking to do business with diverse suppliers
The diverse suppliers’ volume is considered a carve-out and members can still qualify for
the best tiered pricing negotiated.
PREMIER
DISASTER
PREPARATION
AND RESPONSE
P r e m i e r¥ D i s a s t e r P r e p a r a t i o n a n d R e s p o n s e
As a national alliance of 76 percent of the community hospitals in the U.S., Premier¥ and its
membership will be impacted by virtually every manmade or natural disaster across the country.
Recognizing the potential impact of an impending disaster on our members’ ability to deliver
uninterrupted patient care, Premier has created a Disaster Response Team (DRT) that engages in
three separate phases of disaster preparedness:bPreparation, Response and Recovery.
©2018 Premier Inc. All rights reserved.
PREMIER DISASTER
PREPARATION AND RESPONSE
Facts About Premier's Disaster Response Team
The goal of the team is to create prevention plans instead of reaction plans.b
Premier maintains a DisasterbPreparedness and Response Community complete with disaster
training protocols, checklists, playbooks and supplier resources to help members prepare in
advance of a disaster.b
Premier’s DRT is virtually deployed across the nation to ensure primary and secondary backups
are available for preparation, response and recovery from anywhere in the country, outside the
affected areas.
The Premier DRT is NOT a replacement for a member’s responsibility to maintain its own disaster
protocols as defined by CMS, but rather provides additional support and resources in a time of
need.bb
Premier recommends and requests inclusion in your disaster preparation activities to help maintain
the highest levels of patient care and an uninterrupted supply chain in the event of a disaster.
To learn more about how Premier’s Disaster Response team can aid in your preparedness efforts,
contact: disasterresponse@premierinc.com. bYou can find resources, checklists, key contacts and
other up-to-date information by visiting the Disaster Preparedness and Response
PremierConnect® Community.b
©2018 Premier Inc. All rights reserved.
Nursing Field Specialist
Jill Mayrand, RN, BSN
Registered Nurse
Bachelor of Science
Prior to joining Premier, Jill was an executive leader in the healthcare and medical
device industry with over 15 year of experience in operations, medical products,
clinical and economic outcomes. Jill has a strong clinical background with and over
18 years of experience in nursing, nursing education and hospital administration. She
is knowledgeable about the changing healthcare environment and its impact to all
segments of the healthcare market.
Affiliations
x American Association of Critical Care Nurses (member)
What I do – These services are provided to Premier members at no charge
x
x
x
x
Provide Premier members with expertise in nursing products and clinical practice
Work with contracted suppliers by reviewing product information, new technologies and opportunities to
standardize
Conduct product line analysis and cost analysis, to present opportunities for member hospitals in the
nursing product line to improve utilization, clinical and financial outcomes to optimize Premier
agreements
Provide education and support with integrated contract launches
Contact
If you are interested in working with Jill, please reach out to your Premier representative for more information.
$GGLWLRQDOUHVRXUFHV
 &RUHILHOGWHDP3UHPLHUILHOGH[SHUWVFDQDVVLVW\RXLI\RXDUHLQWHUHVWHGLQOHDUQLQJPRUHDERXWDQ\RIWKHRIIHULQJV
OLVWHGZLWKLQWKLVERRN1RWVXUHZKR\RXUILHOGUHSUHVHQWDWLYHLV"&RQWDFWWKH3UHPLHU6ROXWLRQ&HQWHUDWRU
HPDLOVROXWLRQFHQWHU#SUHPLHULQFFRP
 6XSSO\&KDLQ$GYLVRU3UHPLHU¶VRQOLQHDXWRPDWHGFRQWUDFWPDQDJHPHQWV\VWHPLQFOXGLQJFDWDORJHOHFWURQLFSULFH
DFWLYDWLRQQHZVUHVRXUFHVDQGWKHDELOLW\WRPDQDJHDOOFRQWUDFWVLQFOXGLQJUHJLRQDOORFDODJUHHPHQWV LQRQHSODFH
x &DWDORJ(OHFWURQLFUHSRVLWRU\RIDOORI3UHPLHU¶VFRQWUDFWLQIRUPDWLRQ,WLQFOXGHVGHWDLOVRQEXVLQHVVSDUWQHUV
FRQWUDFWVSURGXFWVSULFHWLHUVDQGXSGDWHV7KHFDWDORJDOVRLQFOXGHVFURVVUHIHUHQFHLQIRUPDWLRQIRUPDQ\LWHPV
WKDWDUHQRWRQ3UHPLHUFRQWUDFWLQRUGHUWRILQGIXQFWLRQDOO\HTXLYDOHQWDOWHUQDWLYHLWHPVWKDWDUHRQFRQWUDFW
x 3ULFHDFWLYDWLRQ(OHFWURQLF/HWWHURI&RPPLWPHQW H/2& DSSURDFKLVDQLQWHUDFWLYHSURFHVVLQZKLFKPHPEHUVDQG
VXSSOLHUVFDQUHDFKDJUHHPHQWRQWLHUSULFLQJDQGVLJQDFRQWUDFWRQOLQH&RQWUDFWVFDQEHDFWLYDWHGFHQWUDOO\ LHDW
DQHWZRUNOHYHO DQGLQGLYLGXDOO\ LHDWDKRVSLWDOOHYHO x &RQWUDFWPDQDJHPHQW3UHPLHUHQDEOHVPHPEHUVWRVWRUHWKHLURZQUHJLRQDOO\ORFDOO\QHJRWLDWHGDJUHHPHQWVLQLWV
FDWDORJ%\IROORZLQJDVLPSOHSURFHVVKRVSLWDOVFDQORDGEXVLQHVVSDUWQHULQIRUPDWLRQDFRQWUDFWVXPPDU\DQG
SURGXFWDQGSULFHGDWD
 3UHPLHU&RQQHFW
Â
Â
3UHPLHU&RQQHFWVXUIDFHVDFWLRQDEOHRSSRUWXQLWLHVDQGLQIRUPDWLRQZLWKWKHDELOLW\WRVKDUHNQRZOHGJHUHVXOWLQJLQDRQH
VWRSVKRSIRUPHPEHUVWRGLYHLQWRFXVWRPL]DEOHDQGUHOHYDQWFRQWHQWDFFHVVPXOWLSOHDSSVDQGFROODERUDWHLQUHDOWLPH
7KURXJK3UHPLHU&RQQHFW\RXFDQFRPELQHDQGLQWHJUDWHGDWDDFURVVWKHFRQWLQXXPFRQQHFW\RXUWHDPZLWKRQH
DQRWKHU3UHPLHUVWDIIDQGWKHHQWLUH3UHPLHUDOOLDQFHZLWKVWDWHRIWKHDUWVRFLDOEXVLQHVVWHFKQLTXHVEXLOWVSHFLILFDOO\IRU
KHDOWKFDUHDQGSURYLGHEHVWSUDFWLFHVDQGRWKHUNQRZOHGJHWR\RXUVWDNHKROGHUV7RDFFHVV3UHPLHU&RQQHFWYLVLW
KWWSVSUHPLHUFRQQHFWSUHPLHULQFFRP
6XSSO\&KDLQ1HZVFRPPXQLW\7KH6XSSO\&KDLQ1HZVFRPPXQLW\IHDWXUHVDUROOLQJIHHGZLWKXSGDWHVRQFRQWUDFW
ODXQFKHVZHELQDUVVXSSOLHUSURPRWLRQVJURXSEX\VDQGLQGXVWU\XSGDWHV&RQWHQWLVRUJDQL]HGDFFRUGLQJWR3UHPLHU¶V
VHUYLFHOLQHVPDNLQJVHUYLFHOLQHVSHFLILFLQIRUPDWLRQTXLFNDQGHDV\WRILQG
3UHPLHU0DUNHWSODFH7KURXJK3UHPLHU0DUNHWSODFH\RXFDQWDNHDGYDQWDJHRI
x *URXS%X\V9ROXQWDU\SXUFKDVLQJRSSRUWXQLWLHVW\SLFDOO\IRUFDSLWDOHTXLSPHQW*URXS%X\VGHOLYHUVLJQLILFDQW
VDYLQJVEH\RQG3UHPLHU¶VDOUHDG\H[FHSWLRQDOQDWLRQDOJURXSSXUFKDVLQJDJUHHPHQWV*URXS%X\VPD\DOVR
LQFOXGHYDOXHDGGVVXFKDVVSHFLDOUDWHVIRUILQDQFLQJWUDGHLQSURJUDPVWUDLQLQJSUHYHQWDWLYHPDLQWHQDQFHDQG
VHUYLFHSURJUDPVDQGH[WHQGHGZDUUDQWLHV6DYLQJVDYHUDJHSHUFHQWDERYHQDWLRQDOWRSWLHUSULFLQJ x 0DUNHWSODFHH[FOXVLYHV3UHPLHU¶VHFRPPHUFHZHEVWRUHZKHUH\RXFDQEURZVHFRPSDUHDQGEX\PRUHWKDQ
SURGXFWVZLWK\RXUFUHGLWFDUG0RUHSURGXFWVDUHDGGHGHDFKTXDUWHU x %ORRGEX\&RQQHFWLQJKRVSLWDOVDQGEORRGFHQWHUVQDWLRQZLGHWRHQVXUHWKHHIILFLHQWIORZRIOLIHVDYLQJEORRG
SURGXFWVWRSDWLHQWVLQQHHG
 (PSOR\HHGLVFRXQWV3UHPLHURIIHUVDYDULHW\RIGLVFRXQWVIRUDOOPHPEHUVRIWKHDOOLDQFHDQGWKHLUHPSOR\HHVDQGVWDII
Â
LQFOXGLQJHPSOR\HHGLVFRXQWPDOOVDQG*32FRQWUDFWHGGLVFRXQWFRGHV
3UHPLHU6ROXWLRQ&HQWHU7KH3UHPLHU6ROXWLRQ&HQWHULVDFHQWUDOSRLQWRIFRQWDFWIRUDOO3UHPLHUUHODWHGTXHVWLRQV,WV
SKRQHOLQHVDUHVWDIIHGZHHNGD\VIURPDPWRSP&7
x 7ROOIUHH
x (PDLOVROXWLRQFHQWHU#SUHPLHULQFFRP
$FFHVVLQJDQHOHFWURQLFYHUVLRQRIWKLVERRN
$3')YHUVLRQRIWKLVDQGRWKHUSRUWIROLRERRNVFDQEHIRXQGE\YLVLWLQJWKH3RUWIROLR%RRNV
SDJHRQ3UHPLHU&RQQHFW<RXFDQDOVRILQGWKHERRNVWKURXJKWKHSupply Chain NewsWLOHRQ
3UHPLHU&RQQHFW
7KHLQIRUPDWLRQFRQWDLQHGLQWKLVGRFXPHQWLVFXUUHQWDWWLPHRISXEOLFDWLRQ)RUXSWRGDWHFRQWUDFWGHWDLOVSOHDVHORJRQWR
6XSSO\&KDLQ$GYLVRU6HUYLFHOLQHERRNOHWVDUHSXEOLVKHGTXDUWHUO\)RUTXHVWLRQVDERXWWKHERRNSOHDVHFRQWDFW
FRQWUDFWODXQFKB#SUHPLHULQFFRP