/+.24(#
15
#05+#53% < 5CORNKPI 2TQEGFWTGU CPF 6CDNGU HQT +PURGEVKQP D[ #VVTKDWVGU
&Q&
CFQRVGF
&Q& CEVKXKVKGU OC[ QDVCKP EQRKGU QH #05+#53% < HTQO VJG 5VCPFCTFK\CVKQP &QEWOGPVU 1TFGT
&GUM 4QDDKPU #XGPWG $WKNFKPI & 2JKNCFGNRJKC 2# 6JG RTKXCVG UGEVQT CPF QVJGT
)QXGTPOGPV CIGPEKGU OC[ RWTEJCUG EQRKGU HTQO VJG #OGTKECP 5QEKGV[ HQT 3WCNKV[ %QPVTQN 'CUV
9KUEQPUKP #XGPWG /KNYCWMGG 9+
1TFGT QH RTGEGFGPEG +P VJG GXGPV QH C EQPHNKEV DGVYGGP VJG VGZV QH VJKU FQEWOGPV CPF VJG
TGHGTGPEGU EKVGF JGTGKP VJG VGZV QH VJKU FQEWOGPV VCMGU RTGEGFGPEG 0QVJKPI KP VJKU FQEWOGPV
JQYGXGT UWRGTUGFGU CRRNKECDNG NCYU CPF TGIWNCVKQPU WPNGUU C URGEKHKE GZGORVKQP JCU DGGP QDVCKPGF
4'37+4'/'065
(KTUV CTVKENG 9JGP URGEKHKGF
UGG C UCORNG UJCNN DG UWDLGEVGF VQ HKTUV CTVKENG KPURGEVKQP
KP CEEQTFCPEG YKVJ
/CVGTKCN 6JG OCVGTKCN HQT VJG DQF[ CPF DCUG RNWI UJCNN DG JKIJ ITCFG JQOQIGPGQWU UVGGN
RTQFWEGF CPF HCDTKECVGF D[ C HQTIKPI RTQEGUU 6JG DCUKE EQPHKIWTCVKQP KU QDVCKPGF D[ VJG UVGGN DGKPI
OGEJCPKECNN[ YQTMGF YJKNG CDQXG KVU ETKVKECN VGORGTCVWTG YKVJ HKPCN OCEJKPKPI YJGTG PGEGUUCT[
5
WHHKEKGPV VQR CPF DQVVQO FKUECTF UJCNN DG VCMGP HTQO VJG KPIQV VQ GPUWTG VJCV VJG DNQQOU DKNNGVU QT
DCTU HTQO YJKEJ VJG RTQLGEVKNGU CTG OCFG CTG HTGG HTQO RKRKPI UGITGICVKQP HNCMG TQNNKPI QT HQTIKPI
VGCTU QT UKOKNCT FGHGEVU 9JGP QPN[ QPG RTQLGEVKNG DQF[ KU OCFG HTQO C UKPING KPIQV VJG DCUG UJCNN DG
VQYCTF VJG DQVVQO QH VJG KPIQV
/GEJCPKECN RTQRGTVKGU /GEJCPKECN RTQRGTVKGU QH VJG RTQLGEVKNGU UJCNN DG CU NKUVGF QP VJG
CRRNKECDNG FTCYKPIU QT CU TGSWKTGF KP VJG CRRTQRTKCVG URGEKHKECVKQPU
%JGOKECN EQORQUKVKQP %JGOKECN EQORQUKVKQP QH VJG RTQLGEVKNG CUUGODN[ EQORQPGPVU UJCNN
DG CU URGEKHKGF QP VJG CRRNKECDNG FTCYKPIU 2TKQT VQ OCPWHCEVWTG QH RTQLGEVKNGU VJG EQPVTCEVQT UJCNN
UWDOKV C UVCVGOGPV QH VJG EQORQUKVKQP QH VJG OCVGTKCN RTQRQUGF HQT WUG KP VJG OCPWHCEVWTG QH VJG
DQFKGU RNWIU CPF DCPFU VQ 0#8574(9#4%'0 %TCPG HQT CRRTQXCN 6JKU UVCVGOGPV UJCNN KPFKECVG
VJG OCZKOWO CPF OKPKOWO RGTEGPVCIGU QH CNNQ[KPI GNGOGPVU KPVGPVKQPCNN[ CFFGF QT QVJGTYKUG RTGUGPV
KP VJG UVGGN 6JG EJGOKECN EQORQUKVKQP QH CNN RTQLGEVKNGU HWTPKUJGF WPFGT VJG EQPVTCEV UJCNN DG KP
CEEQTFCPEG YKVJ VJKU UVCVGOGPV CU CRRTQXGF D[ VJG EQPVTCEVKPI CEVKXKV[ 7PNGUU QVJGTYKUG URGEKHKGF VJG
RJQURJQTQWU CPF UWNHWT EQPVGPV UJCNN GCEJ DG NKOKVGF VQ RGTEGPV OCZKOWO CU FGVGTOKPGF D[ NCFNG
CPCN[UKU
*GCV VTGCVOGPV #NN EQORQPGPVU UJCNN DG IKXGP WPKHQTO JGCV VTGCVOGPV VQ RTQFWEG OCVGTKCN
EQPHQTOKPI VQ VJG TGSWKTGOGPVU QH VJKU URGEKHKECVKQP %QORQPGPVU RTQFWEGF D[ DCPF YGNFKPI EQNF
HQTOKPI QRGTCVKQPU QT UWDLGEVGF VQ CP[ EQNF YQTM CHVGT JGCV VTGCVOGPV UJCNN DG CFGSWCVGN[ UVTGUU
TGNKGXGF VQ CUUWTG HTGGFQO HTQO UWUEGRVKDKNKV[ VQ ETCEMKPI QT UWDUGSWGPV FKUVQTVKQP CU C TGUWNV QH
WPTGNKGXGF UVTGUUGU *QNNQY HQTIKPIU UJCNN PQV DG SWGPEJGF KP YCVGT HTQO CDQXG VJG ETKVKECN