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TKIJVURGQRNGOWUVDGEQPUWNVGFCPFKPHQTOGFUWHHKEKGPVN[KPCFXCPEGQHVJGRTQEGUU6JGKPHQTOCVKQPPGGFUVQ
DGRTQXKFGFKPCOCPPGTCPFVJTQWIJOGFKWOUVJCVHWNN[TGURGEVVJGRTKPEKRNGUQHCEEGUUKDKNKV[QHKPHQTOCVKQP
CPF PQPFKUETKOKPCVKQP9JGTG PGEGUUCT[ CUUKUVCPEG UJQWNFDG RTQXKFGF VQ UWRRQTV RGQRNGoU RCTVKEKRCVKQP#
EQOOKVOGPVVQFKUENQUGCNNTGNGXCPVKPHQTOCVKQPVQRGQRNGYJQUGTKIJVUOC[DGCHHGEVGFUJQWNFDGKPEQTRQTCVGF
KPRQNKEKGU
KPUQOGECUGURGQRNGYJQUGTKIJVUCTGCHHGEVGFYKNNDGYKFGTVJCPpNQECNEQOOWPKVKGUq%NKGPVU
UJQWNFPQVJCXGVQQITGCVCFGITGGQHFKUETGVKQPKPFGEKFKPIYJCVYKNNDGFKUENQUGFCPFYJGP#HHGEVGFRGQRNG
UJQWNFDGRCTVQHVJGRTQEGUUVQKFGPVKH[YJCVKHCP[PGICVKXGKORCEVUCRTQLGEVOC[JCXG
KX'PUWTGPQPFKUETKOKPCVKQPCPFGSWCNKV['SWCNKV[CPFPQPFKUETKOKPCVKQPUJQWNFDGGPUWTGFVJTQWIJQWVVJG
KORCEVCUUGUUOGPVRTQEGUU(TQOCJWOCPTKIJVURGTURGEVKXGVJGTGOWUVDGEQPUKFGTCVKQPQHDQVJRTQEGFWTCN
CPFUWDUVCPVKXGKUUWGUKPTGNCVKQPVQPQPFKUETKOKPCVKQPCPFGSWCNKV[#NNRGTUQPUNKMGN[VQDGCHHGEVGFD[VJG
RTQLGEVUJQWNFDGGPCDNGFVQRCTVKEKRCVGKPVJGCUUGUUOGPVRTQEGUUQPCPQPFKUETKOKPCVQT[DCUKUKPENWFKPI
VJQUG KPFKXKFWCNUQT ITQWRUVJCVOC[ DG FKHHGTGPVN[ QT FKURTQRQTVKQPCVGN[ CHHGEVGF 6JG[ UJQWNF DG RCTV QH VJG
RTQEGUUVQKFGPVKH[RQVGPVKCNKORCEVUCPFUJQWNFDGCDNGVQRCTVKEKRCVGKPFGEKUKQPUCDQWVYJKEJOGCUWTGUCTG
CRRTQRTKCVG VQ CFFTGUU CFXGTUG KORCEVU CPF VJGTGD[ GPUWTG VJG RTQLGEV FQGU PQV TGUWNV KP EQPVTKDWVG VQ QT
GZCEGTDCVGFKUETKOKPCVKQPQTKPGSWCNKV[#RRN[KPI PQPFKUETKOKPCVKQPCPFGSWCNKV[RTKPEKRNGUVQVJGRTQEGUU QH
KFGPVKHKECVKQP CPF OCPCIGOGPV QH TKUMU YKNN GPUWTG VJCV CNN FKHHGTGPV KPVGTGUV ITQWRU FKTGEVN[ QT KPFKTGEVN[
CHHGEVGFD['$4&oUCEVKXKVKGUCTGKPENWFGFKPVQVJGFGXGNQROGPVRNCP
X6JGOCPCIGOGPVRTQITCOCPFCEVKQPRNCP#PKORCEVCUUGUUOGPVKUPQVCPGPFKPKVUGNHCPFUJQWNFHQTO
RCTVQHCJQNKUVKEJWOCPTKIJVUEGPVGTGFRTQEGUUQHRTQLGEVFGXGNQROGPVCPFKORNGOGPVCVKQP#P#EVKQP2NCPKU
TGSWKTGFYJGTGVJGENKGPVKFGPVKHKGUURGEKHKEOKVKICVKQPOGCUWTGUCPFCEVKQPUPGEGUUCT[HQTVJGRTQLGEVRQNKE[VQ
EQORN[ YKVJ CRRNKECDNG NCYU CPF TGIWNCVKQPU CPF VQ OGGV VJG TGSWKTGOGPVU QH CNN VJG 2GTHQTOCPEG
4GSWKTGOGPVU #HHGEVGF RGQRNG UJQWNF DG KPXQNXGF KP FGEKUKQPU QP JQY RQVGPVKCN PGICVKXG KORCEVU YKNN DG
OCPCIGF 6JG RTQEGUU QH FGXGNQRKPI VJG /CPCIGOGPV 2TQITCO CPF #EVKQP 2NCP UJQWNF CNUQ HWNN[ TGHNGEV
TGSWKTGOGPVUQHEQPUWNVCVKQPKPECUGUQHKPVGTHGTGPEGYKVJQTVJTGCVUQHKPVGTHGTGPEGYKVJVJGGZGTEKUGQHTKIJVU
#P#EVKQPQT/CPCIGOGPV2NCPUJQWNFKPENWFGQPIQKPIOQPKVQTKPICICKPUVCITGGFDGPEJOCTMU+VUJQWNFCNUQ
JCXG UWHHKEKGPV UEQRG HQT PGY QT WPGZRGEVGF TKUMU VQ QT KORCEVU QP JWOCP TKIJVU VJCV GOGTIG FWTKPI VJG
RTQLGEVoUNKHGVKOGUQVJCVVJGUGECPCNUQDGKFGPVKHKGFCPFCFFTGUUGF
XK %QORNCKPV OGEJCPKUOU #NN '$4& CEVKXKVKGU UJQWNF JCXG KP RNCEG OGEJCPKUOU VQ CNNQY CHHGEVGF
EQOOWPKVKGUVQTCKUGKUUWGUYKVJCPFOCMGEQORNCKPVUVQVJGIQXGTPOGPVDQF[KPXQNXGFKPVJGKORNGOGPVCVKQP
QH VJG RTQLGEV 5WEJ OGEJCPKUOU OWUV QRGTCVG KP C OCPPGT VJCV KU HWNN[ EQPUKUVGPV YKVJ RTKPEKRNGU QH
CEEGUUKDKNKV[ PQPFKUETKOKPCVKQP CPF VTCPURCTGPE[ 6JG[ OWUV GPUWTG HCKT CPF RTGFKEVCDNG RTQEGUUGU CPF
UJQWNFQRGTCVGKPCTKIJVUEQORNKCPVOCPPGT
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