RMP RMQ RMON

5-I0 , 6GFG9DB ;< /../
RMP
RMQ
RMON
2B@>EE8D>8;B :BAFD8 8 2BDDGCKJB L 7<=>JB 1;@>A>EFD8F>H8 3EC<:>8? ;< 48:8G
_
CQRPCJ? NMJ?P
wLBGAC
K ??=? ^T`rag dXVX`fX_X`fX T XW\rqa
XebXV\T^ ~32 =`ae X_ bda^ WT Da`Xef\WTWX
X PdT`ebTdt`V\T X_ ITVTg*/ fX`Wa bad
aU]XVf\ha XhaVTd a bTeeTWa X bXdebXVf\hTd
a Ygfgda1 =bdahX\fT_ae XefT abadfg`\WTWX
bTdT _T`\YXefTd ae `aeeae e\`VXdae
TZdTWXV\_X`fae bX^T TfX`rqa X VaabXdTrqa
W\ebX`eTWTe Ta `aeea fdTUT^[a bX^ae W\hXdeae
eXVfadXe WT eaV\XWTWX/ UX_ Va_a T
XebXdT`rT WX baWXd Va`fTd Va_ g_ Tba\a
T\`WT _T\ad Wa byU^\Va Tae `aeeae XeYadrae
h\eT`Wa g_T eaV\XWTWX _T\e ]gefT X
\`VaddgbfT1
=cg\ fdT`eVdXhX_ae/ Tae VTdae ^X\fadXe/
T _X`eTZX_ WX OgT AjVX^t`V\T a ?[XYX Wa
AjXVgf\ha WT N=AI/ @d1 Da DTg ST[1
K XW\fad
j s453*.{ x1.{3
k p}5,7,~{~*4
q1/*/13{5,7{4 ~14 ih
p014 */ 231. ~{
t10*45,~{~* *
z3{042{3:0},{
n r*21,/*0514 ~*
/*/|314 ~{ 41},*~{~*
o w17,~{~*4
ih
ij y*}135*4 ~* -130{,4
ik u*+,4.{981 f2*3+605{4 *
3*42145{4g
il v,3{~1631
im q,5{981
@eb\j`c [e AA?A
L2q 7 MkjkYhe [\ 6446
C[`zye>Aec`iiXh`X[e ZedjhX X Aehhkfzye
Aeeh[\dXzye> B\fXhjXc\dje [\
P\bXz~\i Aeckd`jxh`Xi
B\i`^d>Ref B\i`^d
R`hX^\c>50944
?i ik^\ij~\i \ ei f\[`[ei [\ Xgk`i`zye [e
@eb\j`c [e AA?A [\l\c i\h [`h`^`[ei Xe
Aec`iiXh`X[e ZedjhX X Aehhkfzye>
B\fXhjXc\dje [\ P\bXz~\i Aeckd`jxh`Xi
?bXc\[X Bh2 AXhbei [*?iikcfzye0
C[]2 BodXijo NbXpX0 582q Xd[Xh0 KXZXk
R\b> .<97/ 76:744
DXn> .<97/ 7:677:
_jjf>33mmm2ZZXZ2eh^2ce
GQQL 5:<61<;7=
KCLQ?ECK BM AFCDC BM CVCASRGTM
BGPGEGB? r CBGutM
-54 ?dei \c fheb [X Fed\ij`[X[\ \ RhXdifXh|dZ`XQ_T eaV\XWTWX u`fXZdT/ eX_ Vaddgbrqa/ s T bXWdT WX facgX bTdT a
ThT`ra WT V\h\^\kTrqa X bTdT a WXeX`ha^h\_X`fa evV\a0XVa`v_\Va/ eX`Wa
fT_Us_/ WX [o _g\fa/ a WXeX]a Wae V\WTWqae WX ITVTg1
A_ 3999 Ya\ XefTUX^XV\WT T NXZ\qa =W_\`\efdTf\hT AebXV\T^ WX ITVTg1
@X [Td_a`\T Va_ T HX\ >oe\VT/ Ya\ Vd\TWa a ?a_\eeTd\TWa Va`fdT T
?addgbrqa -??=?./ haVTV\a`TWa bTdT a Va_UTfX n Vaddgbrqa/
Va`ef\fg\`Wa g_ bTeea \_badfT`fX bTdT T Va`VdXf\kTrqa WXeeX aU]XVf\ha1
Da]X/ ha^h\Wae 32 T`ae WX ^gfT Va`fdT T Vaddgbrqa/ WXeWX T Vd\Trqa Wa
Xjf\`fa =^fa ?a_\eeTd\TWa Va`fdT T ?addgbrqa X T E^XZT^\WTWX
=W_\`\efdTf\hT Tfs Ta TVfgT^ ??=?/ s eaV\T^_X`fX dXVa`[XV\Wa a tj\fa
aUf\Wa `XeeT _\eeqa1
ITe \efa `qa e\Z`\Y\VT cgX a VT_\`[a bXdVadd\Wa fX`[T e\Wa YoV\^1 =
dXh\efT Va_X_adTf\hT ~32 =`ae X_ bda^ WT Da`Xef\WTWX X PdT`ebTdt`V\T*
dXZ\efT ae _a_X`fae \_badfT`fXe X W\YuVX\e `a Va_UTfX n Vaddgbrqa X
baWX eXd f\WT Va_a g_ XebX^[a Wa WXeX`ha^h\_X`fa eaV\T^ WX ITVTg
WgdT`fX ae y^f\_ae 32 T`ae1 = bgU^\VTrqa WXefT dXh\efT fX_/ bad \eea/
g_ eX`f\Wa [\efvd\Va X bXWTZvZ\Va1
@Xba\e Wa XefTUX^XV\_X`fa WT N=AI dXZ\efag0eX g_ ZdT`WX bdaZdXeea
`a Va_UTfX n Vaddgbrqa X XefX bdaZdXeea fX_ Va_a Vada^od\a a egVXeea
WTe ba^uf\VTe WX ~Q_ bTue/ Wa\e e\efX_Te*/ ~ ITVTg ZahXd`TWa bX^Te egTe
ZX`fXe* Va_ T^fa ZdTg WX Tgfa`a_\T1 ITe T Vaddgbrqa W\Y\V\^_X`fX s
bTeeuhX^ WX eXd fafT^_X`fX X^\_\`TWT/ bX^a cgX a ??=? Va`f\`gTdo T
WXeX_bX`[Td g_ bTbX^ \_badfT`fX `a Ygfgda1 K CahXd`a WT N=AI
Va`f\`gTdo T Tba\Td TVf\hT_X`fX a eXg fdTUT^[a/ Va_ a Y\_ WX bda_ahXd
a Xebud\fa WT \`Vaddgbf\U\^\WTWX X WX X_bX`[a `a eX\a WT =W_\`\efdTrqa
X WX ZTdT`f\d g_T eaV\XWTWX ]gefT X u`fXZdT1
M A_\]\ [e Cn\Zkj`le [X
P\^`ye ?[c`d`ijhXj`lX Cif\Z`Xb [\ KXZXk
Fe FXk UX_
`
?ARGTGB?BCQ AMKCKMP?RGT?Q BMQ 54 ?LMQ
CK NPMJ B? FMLCQRGB?BC C RP?LQN?PvLAG?
?Xd\_v`\T WX \`TgZgdTrqa Wa OX_\`od\a eaUdX ~= E`Vaddgbf\U\^\WTWX X a ?g_bd\_X`fa WT HX\*/ bda_ah\Wa bX^a ??=?: OgT AjVX^t`V\T a ?[XYX Wa AjXVgf\ha WT N=AI/
@d1 Da DTg ST[/ X Va`h\WTWae bdahX`\X`fXe Wa Va`f\`X`fX WT ?[\`T/ ITVTg/ Da`Z Ga`Z/ PT\iT` X AZ\bfa
HT`rT_X`fa Wa eX^a
Va_X_adTf\ha: a ?a_\eeod\a
Va`fdT T ?addgbrqa/ @d1
?[Xa`Z Q/ X a @\dXVfad Wae
OXdh\rae WX ?addX\ae/ A`Z1
?Td^ae =^UXdfa Na^Wqa HabXe/
aYXdXVX_ Va`]g`fT_X`fX a eX^a
Va_X_adTf\ha Wae 32 =`ae X_
bda^ WT Da`Xef\WTWX X
PdT`ebTdt`V\T T OgT AjVX^t`V\T
a ?[XYX Wa AjXVgf\ha
A_ [a_X`TZX_ Ta 321l T`\hXdeod\a Wa Va_UTfX
n Vaddgbrqa/ a ??=? bda_ahXg g_ eX_\`od\a
egUadW\`TWa Ta fX_T ~= E`Vaddgbf\U\^\WTWX X a
?g_bd\_X`fa WT HX\*/ cgX fXhX ^gZTd X_ 35 WX
OXfX_Uda -eXjfT0YX\dT./ Wa VaddX`fX T`a/ `a CdT`W
DT^^ -61l T`WTd. WT PaddX WX ITVTg1
K aU]XVf\ha WT \`\V\Tf\hT Va`e\ef\g X_ dXg`\d
XebXV\T^\efTe X TVTWs_\Vae Wa Va`f\`X`fX WT ?[\`T/
ITVTg/ Da`Z Ga`Z X PT\iT` bTdT W\eVgf\d X fdaVTd
XjbXd\t`V\Te eaUdX Te Yad_Te WX bda_arqa X
Va`ea^\WTrqa WT \`Vaddgbf\U\^\WTWX X \`fXZd\WTWX Wae
Yg`V\a`od\ae byU^\Vae1
=ee\ef\dT_ T XefX eX_\`od\a _T\e WX fdXkX`fTe
bXeeaTe/ \`V^g\`Wa f\fg^TdXe WX eXdh\rae X X`f\WTWXe
byU^\VTe/ _TZ\efdTWae/ fdTUT^[TWadXe WT Yg`rqa byU^\VT/
TVTWs_\Vae/ dXbdXeX`fT`fXe WTe TeeaV\TrxXe X
XefgWT`fXe WX W\dX\fa1 =e Va_g`\VTrxXe TbdXeX`fTWTe
`a eX_\`od\a eXdqa Va_b\^TWTe `g_T Va^XVfp`XT/ T
bgU^\VTd bX^a ??=?/ bTdT cgX Te aUeXdhTrxXe X
dXY^XjxXe Wae XebXV\T^\efTe X TVTWs_\Vae eX]T_
bTdf\^[TWTe bX^a byU^\Va/ WX _aWa cgX XefX
Va`eV\X`V\T^\kX T `XVXee\WTWX WX g_T TW_\`\efdTrqa
fdT`ebTdX`fX X \`VaddbgfT1
=gW\t`V\T WX OgT AjVX^t`V\T a ?[XYX Wa AjXVgf\ha Tae V[XYXe WTe WX^XZTrxXe Wa XjfXd\ad
= WX^XZTrqa WT E?=? WX
Da`Z Ga`Z `T dXVXbrqa
WX UaTe0h\`WTe
LgU^\V\WTWX Wa eX_\`od\a `a XVdq e\fgTWa `a XjfXd\ad Wa XW\YuV\a/
X_ cgX a _Xe_a WXVaddXg
a
QCKGLsPGM QM@PC +? GLAMPPSNRG@GJG?BC C
M ASKNPGKCLRM B? JCG,
WS ESMOGLE0 B\b\^X[X [e NheZkhX[eh0 Zec X ZXj\^eh`X [\ [`h\ZjehX \
[\ijXZX[X akdje [X B`h\Zzye E\hXb [ei Q\hl`zei ZedjhX X Aehhkfzye [e Qkfh\ce
Rh`YkdXb NefkbXh
2>M>@OBM[NOF@>N AJN >@OP>FN @MFHBN AB @JMMPKYXJ B JPOMJN @MFHBN KM>OF@>AJN IJ BSBM@[@FJ AB CPIY\BN K]?GF@>N B > NP>
KMBQBIYXJ
~-111. ZdTrTe Ta dXYadra WXeX`ha^h\Wa `a p_U\fa WT dXYad_T X `T eXcgt`V\T WT TWXeqa WT ?[\`T n SPK -KdZT`\kTrqa
Ig`W\T^ WX ?a_sdV\a./ ae Vd\_Xe WX Vaddgbrqa X agfdae Va_Xf\Wae `a XjXdVuV\a WX Yg`rxXe byU^\VTe TbdXeX`fT_
`ahae TebXVfae/ Vg]Te VTdTVfXduef\VTe eqa Te eXZg\`fXe: 3. =e X_bdXeTe Wa AefTWa bTeeT_ T eXd ^aVT\e/ Tg_X`fT`Wa
Te abadfg`\WTWXe WX aVaddt`V\T WX VTeae WX Vaddgbrqa; 4. =e Yad_Te WX Va_bdT X hX`WT WX baWXd/ gf\^\kTWTe
bad _X_Udae Wae vdZqae bTdf\Wod\ae X ba^uf\Vae/ dXhX^T_0eX VTWT hXk _T\e egUf\e/ aVg^fTe X \`ahTWadTe/ T bTd
WX g_ Tg_X`fa WT Vd\_\`T^\WTWX `a eX\a Wae T^fae Yg`V\a`od\ae WX W\dXVrqa X WTe V[XY\Te ]ahX`e; 5. = Vaddgbrqa
`a OXVfad WX B\`T`rTe XefX`WX0eX n VT_TWT egbXd\ad WT TW_\`\efdTrqa1 E_bxX0eX/ bad \eea/ Va`efdg\d g_ e\efX_T
WXYX`e\ha cgX/ TeeX`fX `T bXWTZaZ\T/ h\eX a Va_UTfX X T bdXhX`rqa1 = bdXhX`rqa X a Va_UTfX n Vaddgbrqa/
TfdThse Wa e\efX_T/ Va`ef\fg\ g_T XefdTfsZ\T Yg`WT_X`fT^ bTdT T dXea^grqa Wa VT`WX`fX bdaU^X_T WT Vaddgbrqa
`g_T eaV\XWTWX cgX eX WXeX]T hXd dXZ\WT bad ^X\e cgX bd\_X_ bX^T TVfgT^\WTWX1*
JCC QGS1IUMLE0 Aec`iixh`e [X GA?A [\ Fed^ Ied^
: NP@BNNJ AJ G>IY>HBIOJ A> 0U KBAM> BH 6JID 8JID ^ 1 CJMH>YXJ AB PH> BLPFK> AB CPI@FJIWMFJN
K]?GF@JN FI@JMMPKOJN
~K egVXeea WX Da`Z Ga`Z/ ag eX]T/ T _gWT`rT Wa T_U\X`fX Vaddgbfa/ hXd\Y\VTWa `a bTeeTWa/ bTdT g_T eaV\XWTWX
u`fXZdT/ \`fXd`TV\a`T^_X`fX dXVa`[XV\WT/ WXbX`WXg _g\fa WX g_T XefdTfsZ\T e\`Zg^Td WX Va_UTfX n Vaddgbrqa1
A_ bd\_X\da ^gZTd/ T WXfXd_\`Trqa Wa CahXd`a `a Va_UTfX n Vaddgbrqa XdT \`cgXef\a`ohX^ X faWae ae XefdTfae
eaV\T\e eX`f\T_ dXbgZ`p`V\T bX^T Vaddgbrqa/ bX^a cgX a eXg Va_UTfX egdZ\g Va_a g_ aU]XVf\ha Va_g_ T
faWae ae _X_Udae WT eaV\XWTWX1 A_ eXZg`Wa ^gZTd/ bTdT fT^ Ya\ \_badfT`fX T Va_b^XfT \`WXbX`Wt`V\T WT E?=?/
WX Da`Z Ga`Z/ T cgT^ `qa eX X`Va`fdT eg]X\fT n \`fXdYXdt`V\T WX cgT^cgXd X`f\WTWX byU^\VT ag bd\hTWT/ cgXd
cgT`fa Ta eXg Yg`V\a`T_X`fa/ cgXd cgT`fa Ta Va_UTfX n Vaddgbrqa1*
?DMLQM AF?L0 ?[akdje [e Aec`iixh`e0 [e Aec`iiXh`X[e
ZedjhX X Aehhkfzye [\ KXZXk
1?JMA>DBH A> 2MF>YXJ AB PH 1H?FBIOB 7I@JMMPKOJ I> 4PIYXJ ;]?GF@> AB 9>@>P
~OX`Wa T \_b^T`fTrqa WT \WX\T WT \`Vaddgbf\U\^\WTWX g_T Va`efdgrqa sf\VT WX T^fa
`uhX^/ Va_a eX baWX_ eX`e\U\^\kTd ae Yg`V\a`od\ae byU^\Vae bTdT TZ\dX_ WX Yad_T
[a`XefT X VaddXVfT< m g_ Teeg`fa T cgX a ??=? Wo _g\fT \_badfp`V\T1 -111. bXdT`fX
g_T Xcg\bT WX Yg`V\a`od\ae byU^\Vae X_ VdXeV\_X`fa/ [o hod\ae TebXVfae/ T cgX a
CahXd`a WXhX bdXefTd TfX`rqa: 3. ?d\Td `ae Yg`V\a`od\ae byU^\Vae a eX`f\Wa WX
_\eeqa; 4. ?d\Td `ae Yg`V\a`od\ae byU^\Vae a eX`f\Wa WX dXeba`eTU\^\WTWX; 5. Lda_ahXd
T Y\WX^\WTWX X T [a`Xef\WTWX; 6. Lda_ahXd T sf\VT Wae Yg`V\a`od\ae byU^\Vae; 7. HXhTd
T Ua_ fXd_a a fdTUT^[a WX Va`ea^\WTrqa WT Va`Y\T`rT; 8. Lda_ahXd T Y\eVT^\kTrqa
X a Tba\a WT eaV\XWTWX1*
AFCL HSLE1JSLE0 B`h\Zjeh [X DXZkb[X[\ [e B`h\`je
[X Sd`l\hi`[X[\ [\ Dk H\d0 RX`mXd
<FOP>YXJ >@OP>G AJ @MFHB AB @JMMPKYXJ AB =>FR>I/ NP>N @>PN>N B HBAFA>N
ABCBINFQ>N
~LTdT dXea^hXd T cgXefqa Wa Vd\_X WX Vaddgbrqa s `XVXeeod\a/ bad g_ ^TWa/ cgX
a CahXd`a XefTUX^XrT g_ _XVT`\e_a XY\VTk WX Y\eVT^\kTrqa/ WX`y`V\T X \`hXef\ZTrqa
X/ bad agfda/ bdaVXWT T g_T dXYad_T `T XWgVTrqa X `a e\efX_T1*
VS RG?LVG?LE0 NheZkhX[eh ?[akdje [X NheZkhX[eh`X NefkbXh
[X Nhel}dZ`X [\ EkXd^[ed^
1 KMBQBIYXJ @JIOM> JN @MFHBN @JHBOFAJN IJ BSBM@[@FJ AB CPIY\BN K]?GF@>N B > KMJHJYXJ
A> FI@JMMPKOF?FGFA>AB AJN CPI@FJIWMFJN K]?GF@JN
~= bdXhX`rqa Va`fdT ae Vd\_Xe Va_Xf\Wae `a XjXdVuV\a WX Yg`rxXe byU^\VTe X T bda_arqa
WT \`Vaddgbf\U\^\WTWX bTdfX_ WT XefdgfgdT eaV\T^/ ]o cgX `qa UTefT_ ae fdTUT^[ae WXeX`ha^h\Wae
bad g_ y`\Va vdZqa XebXV\T^\kTWa/ _Te fad`T0eX \`W\ebX`eohX^/ T\`WT/ T Va^TUadTrqa XefdX\fT
X`fdX XeeX vdZqa X T eaV\XWTWX/ `a \`fg\fa WX XefTUX^XVXd g_T dXWX bdXhX`f\hT cgX VgUdT
faWT T eaV\XWTWX1*
b
QCKGLsPGM QM@PC
+? GLAMPPSNRG@GJG?BC C
M ASKNPGKCLRM B? JCG,
R\efT WT eT^T Wa OX_\`od\a eaUdX ~= \`Vaddgbf\U\^\WTWX X a
?g_bd\_X`fa WT HX\*
JSM UCGHG?L0 Nhe]\iieh [X DXZkb[X[\ [e B`h\`je [X Sd`l\hi`[X[\
[\ KXZXk
: KMBAJH[IFJ AJ 3SB@POFQJ B > FI@JMMPKOF?FGFA>AB AJN CPI@FJIWMFJN K]?GF@JN
~OX`Wa a bdXWa_u`\a Wa AjXVgf\ha g_ bd\`Vub\a Yg`WT_X`fT^ Wa e\efX_T ba^uf\Va WT NXZ\qa
=W_\`\efdTf\hT AebXV\T^ WX ITVTg/ fad`T0eX `XVXeeod\a/ bTdT eT^hTZgTdWT WT egT bae\rqa X bwd X_
Yg`V\a`T_X`fa a eXg bTbX^/ X_ adWX_ T dXeba`WXd ne XjbXVfTf\hTe X ea^\V\fTrxXe Wae V\WTWqae bTdT
Va_ ae Yg`V\a`od\ae byU^\Vae/ Yad_Td X Vd\Td g_T Xcg\bT WX cgT^\WTWX1 MgT\e ae Vd\fsd\ae X dXcg\e\fae
bTdT \eea< = dXebaefT s vUh\T: g_T Xcg\bT WX Yg`V\a`od\ae byU^\Vae \`Vaddgbfae X dXebX\fTWadXe WT
^X\1 Lad \eea/ a dXYadra WT eX`e\U\^\kTrqa/ cgX T^XdfX bTdT T \`Vaddgbf\U\^\WTWX X a Vg_bd\_X`fa WT
^X\ bad bTdfX Wae Yg`V\a`od\ae byU^\Vae/ dXhXefX0eX WX XjfdX_T dX^Xhp`V\T/ `T _XW\WT X_ cgX a egVXeea
ag `qa Wa XjXdVuV\a Wa bdXWa_u`\a Wa AjXVgf\ha/ WX^Xe Xefo WXbX`WX`fX1*
VGC ESJG?LE0 QkY[`h\Zjeh [ei Q\hl`zei [\ Qkf\hl`iye [X
Nhel}dZ`X [\ EkXd^[ed^
:N BNCJMYJN B J NP@BNNJ >G@>IY>AJ I> KMBQBIYXJ @JIOM> > @JMMPKYXJ MBG>OFQ> VN J?M>N
K]?GF@>N A> ;MJQ[I@F> AB 5P>IDAJID
~=a Y\_ WX hod\ae T`ae WX Va`fu`gae XeYadrae/ T Ldahu`V\T WX CgT`ZWa`Z Va`eXZg\g Tf\`Z\d
g_ egVXeea e\Z`\Y\VTf\ha/ X_ fXd_ae WX dXZg^Td\kTrqa X adWX`Trqa Wa _XdVTWa WT Va`efdgrqa
V\h\^ X WT W\eV\b^\`T Wae TVfae WXeeX _Xe_a _XdVTWa1 A_ bd\_X\da ^gZTd/ dXZ\efag0eX g_
Tg_X`fa egUefT`V\T^ `a `y_Xda WX Va`Vgdeae byU^\Vae; X_ eXZg`Wa ^gZTd/ hXd\Y\Vag0eX g_T
dXWgrqa ZX`XdT^\kTWT `ae bdXrae WTe aUdTe; X_ fXdVX\da ^gZTd/ _XdXVX WXefTcgX fT_Us_ a
TbXdYX\raT_X`fa `afTWa `T cgT^\WTWX WTe aUdTe1*
RMS U?G DMLE0 ?[akdjX [e Aec`iixh`e [e Aec`iiXh`X[e ZedjhX
X Aehhkfzye [\ KXZXk
: K>KBG AJ 2212 AB 9>@>P IJ @JH?>OB V @JMMPKYXJ B I> KMJHJYXJ A> FIOBDMFA>AB B
OM>INK>MZI@F>
~?a_a \`efdg_X`fa _T\e baWXdaea Wa CahXd`a WT NXZ\qa =W_\`\efdTf\hT AebXV\T^ WX ITVTg bTdT
Va_UTfXd T Vaddgbrqa X bda_ahXd T \`fXZd\WTWX/ a ?a_\eeTd\TWa Va`fdT T ?addgbrqa fX_ ae eXge
b\^TdXe UX_ TeeX`fXe: cgXd `Te W\ebae\rxXe WT HX\ >oe\VT -~1111W\ebxX WX g_ ?a_\eeTd\TWa Va`fdT T
?addgbrqa cgX Yg`V\a`T Va_a vdZqa \`WXbX`WX`fX1 K ?a_\eeod\a Va`fdT T ?addgbrqa dXeba`WX
bXdT`fX a ?[XYX Wa AjXVgf\ha*.; cgXd `a p_U\fa WTe egTe Tfd\Ug\rxXe X Va_bXft`V\Te; cgXd `a cgX
eX dXYXdX ne \`efT^TrxXe X n WafTrqa WX dXVgdeae1 @XefX _aWa/ T egT \`ef\fg\rqa X_ UaT adWX_
hX_ Va`ea^\WTd Te \WX\Te ZahXd`Tf\hTe eaUdX ITVTg Wa ?[XYX Wa AjXVgf\ha1*
US WSJG?LE0 B`h\Zjeh [e B\fXhjXc\dje [\ Cijk[ei [e K`d`ij{h`e [\
Qkf\hl`iye
3SBM@BM PH> CFN@>GFT>YXJ BCF@>T/ KMJHJQBM > EJIBNOFA>AB B > AFGFDZI@F> I> 1AHFIFNOM>YXJ
~Jae y^f\_ae T`ae/ tj\fae `afohX\e `T Va`efdgrqa WX g_T TW_\`\efdTrqa [a`XefT X \`VaddgbfT X `a Va_UTfX
n Vaddgbrqa YadT_ T^VT`rTWa `a E`fXd\ad WT ?[\`T1 IXW\WTe bd\`V\bT\e: 3. NXYadrTd/ `ae fXd_ae WT ^X\/ a
VTef\Za Wae Vaddgbfae; 4. NXYadrTd bdaZdXee\hT_X`fX T Va`efdgrqa WT ba^uf\VT WX_aVdof\VT X T Y\eVT^\kTrqa
Wa byU^\Va eaUdX Te Tgfad\WTWXe TW_\`\efdTf\hTe; 5. NXYadrTd Te TVrxXe WX XWgVTrqa X X^XhTd a `uhX^ WT sf\VT
bdaY\ee\a`T^ Wae Yg`V\a`od\ae byU^\Vae X T egT VTbTV\WTWX WX dXe\ef\d n Vaddgbrqa; 6. =VX^XdTd a bdaVXeea
WX dXYad_T X X^\_\`Td a fXddX`a bdabuV\a n Vaddgbrqa; 7. ?d\Td g_ e\efX_T WX dXeba`eTU\^\WTWX `T Va`efdgrqa
WX g_Te TW_\`\efdTrqa [a`XefT X \`VaddgbfT X dXYadrTd a eX`f\Wa WX dXeba`eTU\^\WTWX Wae Yg`V\a`od\ae; 8.
=baefTd `a WXeX`ha^h\_X`fa WT bdaWgf\h\WTWX X Tg_X`fTd a baWXd `TV\a`T^ \`fXZdT^1*
Ke fXjfae \`fXZdT\e WXefTe Va_g`\VTrxXe ht_ bgU^\VTWae `a iXUe\fX Wa ??=?/ `T Va^g`T ?a_g`\VTrxXe Wa OX_\`od\a WX ~= E`Vaddgbf\U\^\WTWX X a ?g_bd\_X`fa WT HX\*1
c
?ARGTGB?BCQ AMKCKMP?RGT?Q BMQ 54 ?LMQ CK
NPMJ B? FMLCQRGB?BC C RP?LQN?PvLAG?
HT`rT_X`fa WT XW\rqa XebXV\T^ ~32 =`ae X_ bda^ WT Da`Xef\WTWX X PdT`ebTdt`V\T
X_ ITVTg*: a ?a_\eeod\a Va`fdT T ?addgbrqa/ @d1 ?[Xa`Z Q/ aYXdXVX g_ XjX_b^Td
T OgT AjVX^t`V\T a ?[XYX Wa AjXVgf\ha/ @d1 Da DTg ST[
P\fg^TdXe WX vdZqae Wa CahXd`a bdXeX`fXe `a eX_\`od\a
K ?a_\eeod\a Va`fdT T ?addgbrqa X ae adTWadXe `a eX_\`od\a
?a`h\WTWae VT`fT`Wa X WT`rT`Wa T^XZdX_X`fX `a ]T`fTd WX X`VXddT_X`fa
?a`YXdt`V\T WX \_bdX`eT eaUdX T X_\eeqa Wa eX^a Va_X_adTf\ha Wae
~32 =`ae X_ bda^ WT Da`Xef\WTWX X PdT`ebTdt`V\T*
?<>;=<<=@
OX^a X X`hX^abX baefT^ Va_X_adTf\hae Wae ~32
=`ae X_ bda^ WT Da`Xef\WTWX X PdT`ebTdt`V\T*
?Tdfqa fX^XYv`\Va Va_X_adTf\ha Wae ~32 =`ae
X_ bda^ WT Da`Xef\WTWX X PdT`ebTdt`V\T*
d
Cdjh\l`ijX Xe
Qh2 J\` NXd^ A_k-
BCNMGKCLRMQ BC
KCK@PMQ B? QMAGCB?BC
N\h^kdjX> @XeWX T \`ef\fg\rqa Wa
=^fa ?a_\eeTd\TWa ?a`fdT T
?addgbrqa X T E^XZT^\WTWX
=W_\`\efdTf\hT Tfs Ta TVfgT^
?a_\eeTd\TWa Va`fdT T ?addgbrqa/
WXVaddXdT_ ]o WXk T`ae1 A_ fXd_ae
ZXdT\e/ cgX Va_X`fod\ae ^[X _XdXVX
a eXg Yg`V\a`T_X`fa `a Va_UTfX n
Vaddgbrqa<
J\`> Ke fdTUT^[ae WXeX`ha^h\Wae bX^a
??=?/ `T egT YTeX WX Va`VXbrqa X
adZT`\kTrqa/ bTeeTdT_ g_ bagVa
WXeTbXdVXU\Wae WT babg^Trqa1 @X
YTVfa/ T e\fgTrqa WT Vaddgbrqa T`fXe WT fdT`e\rqa XdT XjfdX_T_X`fX dXbgZ`T`fX
Tae a^[ae Wa byU^\Va1 Ig\fTe Va\eTe `qa baW\T_ eXd YX\fTe eX_ W\`[X\da1 IXe_a
Va_ a W\`[X\da bdXbTdTWa/ XdT `XVXeeod\a/ ne hXkXe/ ~UTfXd ne badfTe VXdfTe*:
~OX fX_ W\`[X\da/ Xefo0^[X TUXdfT T fad`X\dT bTdT TbTZTd a \`Vt`W\a; eX `qa fX_
W\`[X\da/ T fad`X\dT Xefo0^[X YXV[TWT*1 AdT XeeT g_T dXT^\WTWX Va`[XV\WT WX faWae1
=e ^TVg`Te X ka`Te V\`kX`fTe/ cgX Xj\ef\T_ `T ^XZ\e^Trqa/ Vd\ThT_ T abadfg`\WTWX
WX ae Yg`V\a`od\ae byU^\Vae bdTf\VTdX_ TVfae WX Vaddgbrqa1 =a _Xe_a fX_ba/
Te Yad_T^\WTWXe UgdaVdof\VTe/ XjVXee\hT_X`fX Va_b^\VTWTe X X`YTWa`[Te/
X_UTdTrThT_ TcgX^Xe cgX fX`fThT_ aUeXdhTd d\ZadaeT_X`fX Te dXZdTe1 LTdT
dXea^hXd g_ VTea/ XdT bdXV\ea bTeeTd bad `g_Xdaeae vdZqae X bdaVXW\_X`fae
TW_\`\efdTf\hae/ _Te T babg^Trqa X_ ZXdT^ `qa Va`[XV\T _g\fa UX_ a V\dVg\fa
X_ VTgeT1 m WX eT^\X`fTd/ bad \eea/ cgX Te bXeeaTe WXbae\fT_ ZdT`WXe XjbXVfTf\hTe
`a ??=?1 A_ fXd_ae Va`VdXfae/ T`fXe WT fdT`eYXdt`V\T WT =W_\`\efdTrqa/ a
=???E= X`Va`fdThT0eX X_ YTeX WX dXXefdgfgdTrqa X ae V\WTWqae f\`[T_ ZdT`WXe
XebXdT`rTe eaUdX XefT \`ef\fg\rqa/ _Te TVTUTdT_ bad Y\VTd WXe\^gW\Wae1 =Y\`T^/ a
=???E= Va`eXZg\g ag `qa T^Zg`e dXeg^fTWae< O\_/ _Te bagVae Tae a^[ae Wa
byU^\Va1 K cgX Te bXeeaTe dXVadWT_ `qa bTeeT WX g_Te bagVTe bXcgX`Te _aeVTe
TbT`[TWTe/ _Te `TWT WX \_bdXee\a`T`fX1
IT\e XjbXVfTf\hTe WXbae\fTWTe `a ??=? bX^T babg^Trqa
@Xba\e Wa dXfad`a WX ITVTg n Lofd\T/ a ??=? bdaZdXW\g _g\fa/ a cgX eX
WXhX `qa ev Tae XeYadrae X`h\WTWae bX^a eXge bXeeaT^/ _Te fT_Us_ T faWT T
Xcg\bT Wae fdTUT^[TWadXe WT Yg`rqa byU^\VT/ n _gWT`rT WT Tf_aeYXdT eaV\T^ X
Ta XefTWa WX Xebud\fa Wae dXe\WX`fXe/ Ta eX`f\dX_0eX Wa`ae WX ITVTg1 @Tu cgX
Te XjbXVfTf\hTe X_ dX^Trqa Ta ??=? eX fX`[T_ fad`TWa T\`WT _T\adXe X _T\e
bdX_X`fXe1 PXefX_g`[o_ae ae dXeg^fTWae cgX a ??=? T^VT`rag X_ _X`ae
WX fdte T`ae/ Va_a bad XjX_b^a T WXeVaUXdfT Wae TVfae WX Vaddgbrqa bdTf\VTWae
bX^ae Yg`V\a`od\ae Wa E`ef\fgfa bTdT ae =eeg`fae ?uh\Vae X Ig`\V\bT\e X WTe WgTe
Xj0?p_TdTe Ig`\V\bT\e Ldah\evd\Te1 Ja X`fT`fa/ fT`fa cgT`fa Xg eX\/ _g\fae Wae
VTeae WXfXVfTWae bX^a ??=? YadT_ Va_Xf\Wae T`fXe WT fdT`e\rqa1 ITe/ badcgX
s cgX ae VTeae WX gea WX dXVgdeae byU^\Vae X_ bdahX\fa bd\hTWa `qa YadT_
baefae T WXeVaUXdfa T`fXe WT fdT`e\rqa< m cgX YadT_ e\fgTrxXe WX \^XZT^\WTWX
TW_\`\efdTf\hT ag WX Vaddgbrqa `g`VT WXe_TeVTdTWTe Ta ^a`Za Wae hod\ae T`ae
WT egT Xj\eft`V\T1 Aj\ef\T ag `qa g_T \`ef\fg\rqa WX Va_UTfX n Vaddgbrqa< Aj\ef\T/
_Te `qa WX`g`V\ag ae Vd\_Xe1 Oqa VTeae WX Va`[XV\_X`fa WX faWae1 AjX_b^\Y\VT`Wa:
g_ VTdda WX ^gja TbTdXVXg `T aY\V\`T WX dXbTdTrxXe WT Xj0?p_TdT Ig\`V\bT^
Ld\`V\bT^/ YTVfa Va_bdahTf\ha Wa gea WX dXVgdeae byU^\Vae X_ UX`XYuV\a bTdf\Vg^Td;
g_ VTea WX Vaddgbrqa X`ha^hX`Wa T^fae Yg`V\a`od\ae WT Xj0?p_TdT Ig`\V\bT^;
a dXVs_0WXeVaUXdfa VTea WX g_ Y\eVT^ WX _XdVTWa Xj\_\T0eX WTe egTe aUd\ZTrxXe/
ea^\V\fT`Wa _XdVTWad\Te/ Va_a Va`fdTbTdf\WT/ XfV1 PaWae XefXe VTeae YadT_
Va_Xf\Wae T`fXe WT fdT`e\rqa/ _Te TbX`Te YadT_ \`hXef\ZTWae X_ _a_X`fa
baefXd\ad1 Ke dXe\WX`fXe dXVa`[XVX_/ Y\`T^_X`fX/ a fdTUT^[a WXeX`ha^h\Wa bX^a
??=?/ _Te bXd_T`XVX_ \`eTf\eYX\fae1
MgX\jT Va`efT`fX WX fdahaTWTe eXVTe
Ja ~H=J?DA z LTdT Q_T OaV\XWTWX E`VaddgbfT*/ WXefX T`a/ f\hX T abadfg`WTWX
WX W\kXd Ta ?a_\eeod\a Va`fdT T ?addgbrqa/ a eXZg\`fX: WXba\e WX g_ VTea
WXfXVfTWa/ WXhX_ eXd fad`TWae byU^\Vae ae dXebXVf\hae bdaVXeeae WX
TVa_bT`[T_X`fa X WX fdTfT_X`fa/ UX_ Va_a ae dXeg^fTWae; VTea Va`fdod\a/
ae dXe\WX`fXe eTUX_ cgX [o _aeVTe ZdT`WXe ag UTdTfTe ZdT`WXe/ _Te `qa eTUX_
eX Te _Xe_Te YadT_ ag `qa XjfXd_\`TWTe { g_T \`VvZ`\fT1 A`fdX Te hakXe Wae
dXe\WX`fXe/ V[XZTWTe n Va_g`V\Trqa eaV\T^/ `qa YT^fTdT_ cgX\jTe bX^Te fdahaTWTe
eXVTe1 ?a_a TZX`fXe WT Va_g`\VTrqa eaV\T^/ `qa bgWX_ae WX\jTd WX YTkXd T`o^\eXe
aU]XVf\hTe eaUdX XefX f\ba WX _T`\YXefTrxXe WX \`eTf\eYTrqa Wa byU^\Va1 @Tu T
`aeeT Va`V^geqa WX cgX fdte bse WX ZX^a `g`VT eX Yad_T_ `g_ ev W\T1 Ke
bdaU^X_Te eXW\_X`fT_0eX Va_ a bTeeTd Wa fX_ba1 A`fqa/ cgT\e eqa Te ea^grxXe<
PT`fa cgT`fa Xg eX\/ T eXZg\d Ta fdTUT^[a Wa ??=? WXhX a _Xe_a bTeeTd bTdT
a I\`\efsd\a LyU^\Va X bTdT ae vdZqae TW_\`\efdTf\hae1 ?dX\a cgX Te _XW\WTe T
fa_Td bTdT Va`eXZg\d dXeg^fTWae Va`VdXfae X b^TgeuhX\e ]g`fa WT babg^Trqa/ eX
bdX`WX_ Va_ g_T VaadWX`Trqa XYXVf\hT WX XeYadrae `XefT _Tfsd\T/ WXhX`Wa
eXd T^ha WX ba`WXdTrqa/ `qa ev Wa ??=?/ _Te fT_Us_ Wae vdZqae TW_\`\efdTf\hae
X WTe \`efp`V\Te ]gduW\VTe WT N=AI1
A WXba\e WX dX_ahXd T ~fT_bT*<
LTdT Va`eXZg\d tj\fae hXdWTWX\dae/ `qa UTefT dX_ahXd T ~fT_bT*/ s `XVXeeod\a
aUfXd dXeg^fTWae1 LX`ea cgX \efa s Yg`WT_X`fT^1 @X TVadWa Va_ Te bd\_X\dTe
\_bdXeexXe Wae dXe\WX`fXe/ a ??=? _aefdT0eX VadT]aea X_ dX_ahXd T ~fT_bT*
{ a cgX s Va`e\WXdTWa _g\fa bae\f\ha { _Te cgT^ s T egT TVfgTrqa baefXd\ad<
=e bXeeaTe Y\VT_ T TZgTdWTd1 BadT_ XefXe ae Va_X`fod\ae cgX ae ^X\fadXe
Yad_g^TdT_ `Te egTe VTdfTe1 =^Zg_Te WX^Te YadT_ fdTfTWTe W\dXVfT_X`fX bX^a
]ad`T^/ X`cgT`fa agfdTe YadT_ dX_Xf\WTe bTdT a ?a_\eeTd\TWa1 A`fdX Te VTdfTe
cgX dXVXUX_ae/ T^Zg_Te dXYXd\T_0eX T VTeae X_ Vgdea WX \`hXef\ZTrqa/ agfdTe
`qa TbdXeX`fThT_ bdahTe egY\V\X`fXe X agfdTe T\`WT `qa cgXd\T_ dXhX^Td ae `a_Xe
X`ha^h\Wae1 @T `aeeT bTdfX/ fX_ae fX`fTWa a baeeuhX^ bTdT X`fdTd X_ Va`fTVfa
Va_ ae vdZqae TW_\`\efdTf\hae1 Ke XjX_b^ae TV\_T _X`V\a`TWae TUdT`Z\T_ TVfae
WX \ddXZg^Td\WTWX TW_\`\efdTf\hT X VTeae WX egebX\fT WX Vaddgbrqa1 PX_a0`ae
XeYadrTWa bad Vg_bd\d a `aeea WXhXd/ eXdh\`Wa WX VT`T^ WX Va_g`\VTrqa X
WXeX_bX`[T`Wa a bTbX^ WX Y\eVT^\kTrqa1
NXZg^Td\kTrqa WTe Yad_T^\WTWXe X Wae bdaVXeeae TW_\`\efdTf\hae
OX s hXdWTWX cgX _g\fTe WTe XjbXVfTf\hTe Wae dXe\WX`fXe YadT_ VaddXeba`W\WTe
bX^a ??=?/ `qa s _X`ae hXdWTWX cgX ae dXe\WX`fXe XebXdT_ T^Za _T\e1 A_UadT
ae TZX`fXe WX TVfae WX Vaddgbrqa X WX \^XZT^\WTWX TW_\`\efdTf\hT eX _aefdX_
~dX^gfT`fXe X_ Tdd\eVTd*/ `qa s WX XjV^g\d T baee\U\^\WTWX WX [ThXd bXeeaTe cgX
dXVaddT_ T _X\ae _T\e aVg^fae bTdT Va_XfXd Vd\_Xe1 CaefTd\T WX V[T_Td T
TfX`rqa Wa ??=? bTdT a YTVfa WX cgX eqa _g\fTe Te XjbXVfTf\hTe Wae dXe\WX`fXe
X ae vdZqae WX Va_g`\VTrqa eaV\T^ X`VadT]T_0`ae T WX`g`V\Td ae VTeae1 LadcgX
s cgX n Vaddgbrqa `qa eqa T^[X\ae _g\fae Wae vdZqae X bdaVXW\_X`fae
TW_\`\efdTf\hae< LadcgX eqa WX_Te\TWa Va_b^\VTWae X \`Vv_aWae1 Ja bTeeTWa/
ae dXe\WX`fXe Vaefg_ThT_ bX`eTd: ~Nob\Wa X_ X`fdXZTd a W\`[X\da X fgWa eX
dXea^hX+* =ZadT/ `qa ageT`Wa TVX\fTd aYXdfTe/ TddTefT_ ae bdaVXeeae1 =^Zg`e
bXcgX`ae Va_XdV\T`fXe X \`Wgefd\T\e WXeTUTYT_: ~Jg`VT bTdT_ae WX Yad_g^Td
Va`h\fXe bTdT |fa_Td g_ VTYs}+* Fo YT^X\ Va_ a ?a_\eeod\a eaUdX XefT e\fgTrqa1
LTdT dXea^hXd bdaU^X_Te WXefX Zs`Xda/ s \`W\ebX`eohX^ dXZg^Td\kTd Te Yad_T^\WTWXe
X ae bdaVXW\_X`fae TW_\`\efdTf\hae1 A_ Da`Z Ga`Z/ bTdT fdaVTd T U\^[XfX WX
\WX`f\WTWX/ UTefT bdXX`V[Xd g_ Yad_g^od\a1 A_ ITVTg/ T`fXe WT fdT`e\rqa/ XdT
g_ bdaVXeea _TrTWad; WXba\e WT fdT`e\rqa/ Te _X^[ad\Te dXZ\efTWTe `ae OXdh\rae
WX EWX`f\Y\VTrqa X OXdh\rae WX ?addX\ae ]o _XdXVX_ ab\`\xXe bae\f\hTe/ bad bTdfX
WT babg^Trqa1 OX [o eXdh\rae byU^\Vae cgX T\`WT `qa fX`[T_ Va`eXZg\Wa fT\e
_X^[ad\Te/ ae dXe\WX`fXe eX`fX_ VXdfT_X`fX Te \`Va`hX`\t`V\Te1 Eefa Tfs baWX
egeV\fTd g_ _Tg X`fX`W\_X`fa/ WXe`XVXeeod\a/ Wae dXe\WX`fXe/ ^XhT`Wa0ae T
bX`eTd cgX ae Vaddgbfae eqa/ TY\`T^/ _X^[adXe Wa cgX ae \`Vaddgbfae1 m g_
Va`VX\fa _g\fa XddTWa1
= `arqa WX \`Vaddgbf\U\^\WTWX WXhX eXd TddX\ZTWT `ae ]ahX`e
m Xh\WX`fX cgX a ??=? `XVXee\fT WX dXYadrTd Te TVrxXe WX eX`e\U\^\kTrqa1
?a`efTfT_ae cgX a ??=? fX_ adZT`\kTWa bT^XefdTe bTdT Te Va_g`\WTWXe Uoe\VTe
X XeVa^Te1 Oqa TVrxXe cgX WXhX_ eXd bdaeeXZg\WTe1 Ke ]ahX`e WXhX_ Va`ea^\WTd/
WXeWX bXcgX`ae/ T Va`eV\t`V\T WX \`Vaddgbf\U\^\WTWX X WX eXdh\d T eaV\XWTWX1
=ee\_/ eX `a Ygfgda/ eX fad`TdX_ Yg`V\a`od\ae byU^\Vae/ dXY^XVf\dqa g_ bagVa/
T`fXe WX bdTf\VTd cgT^cgXd WXeh\a WX Va_badfT_X`fa1 IXe_a cgX XeVa^[T a
Va_sdV\a ag T \`Wyefd\T/ X_ hXk Wa Yg`V\a`T^\e_a byU^\Va/ X`hXdXWTdo bX^a
VT_\`[a VXdfa/ T]gWT`Wa T hT^ad\kTd a Xebud\fa WX dXVf\Wqa `T eaV\XWTWX1
N\h^kdjX> =V[T cgX s Va`hX`\X`fX cgX X_ ITVTg eX]T \`fdaWgk\WT g_T ^X\
eX_X^[T`fX n WX ~= E`Va_bTf\U\^\WTWX X`fdX ae NX`W\_X`fae X T ?TfXZad\T Wa
MgTWda* X_ Da`Z Ga`Z ag n WX ~Kd\ZX`e @XeVa`[XV\WTe WX LTfd\_v`\a WX
A^XhTWa Ia`fT`fX*<
J\`> @a ba`fa WX h\efT Wae dXe\WX`fXe/ s WXeX]ohX^ cgX eX]T \`fdaWgk\WT T ^X\
eaUdX ~= E`Va_bTf\U\^\WTWX X`fdX ae NX`W\_X`fae X T ?TfXZad\T Wa MgTWda*1
m YoV\^ Va_bdXX`WXd: Va_a s baeeuhX^ cgX g_ Yg`V\a`od\a byU^\Va `ad_T^ _gWX
a eXg VTdda WX fdte X_ fdte _XeXe ag WX Wa\e X_ Wa\e _XeXe/ XebXV\T^_X`fX eX
eX fdTfT WX g_ VTdda WX ZdT`WX _TdVT ag WX g_ Tgfa_vhX^ WX Vadd\WT< K _Td\Wa
fX_ g_ VTdda/ T _g^[Xd fX_ agfda X T YT_u^\T/ `a eXg faWa/ baeegX_ hod\ae1
LaWX0eX YTkXd g_ Vo^Vg^a/ Va_ UTeX `a cgX X^X ZT`[T: g_ W\dXVfad WX eXdh\rae
s dX_g`XdTWa bX^a u`W\VX 3222/ eXdo cgX g_ Yg`V\a`od\a `ad_T^ fT_Us_ ZT`[T
a _Xe_a< OX X^X g^fdTbTeeT g_ W\dXVfad WX eXdh\rae/ `a Va`eg_a/ s badcgX
Xj\efX T^Za WX T`ad_T^1
@XeX]aeae WT \`fdaWgrqa WT ^X\ eaUdX T
,= E`Va_bTf\U\^\WTWX X`fdX ae NX`W\_X`fae X T ?TfXZad\T Wa MgTWda,
BT^X\ g_T hXk Va_ g_ dXeba`eohX^ Wg_ UT`Va X bgWX_ae f\dTd ^\rxXe WTe egTe
h\ht`V\Te1 OX`Wa g_ [a_X_ Vg\WTWaea/ fX_ XefTWa TfX`fa Tae [oU\fae WX Va`eg_a
Wae fdTUT^[TWadXe cgX V[XY\T1 A g_T hXk h\g cgX g_ Wae fdTUT^[TWadXe Wa eXg
UT`Va eX _aefdag WX _qae dafTe1 IT\e fTdWX/ WXeVaUd\g cgX a fdTUT^[TWad X_
VTgeT `qa ev XefThT h\V\TWa `a ]aZa/ Va_a T\`WT TbdahX\fThT Te egTe Yg`rxXe
bTdT WXeYT^VTd a UT`Va/ dXf\dT`Wa Yg`Wae X_ eXg bdahX\fa1 AefX Yg`V\a`od\a Ya\/
V^Tda/ WXebXW\Wa1 LTdT g_ UT`Va Va_ fdXkX`fae X fT^ X_bdXZTWae/ s YoV\^
TVa_bT`[Td Te e\fgTrxXe cgX X`ha^hX_ ~= E`Va_bTf\U\^\WTWX X`fdX ae NX`W\_X`fae
X T ?TfXZad\T Wa MgTWda*1 Ke dXeba`eohX\e Wae WXbTdfT_X`fae ~egVg^X`fae*
Va`efg_T_ eXd _T\e TfX`fae/ Ta Va`fdod\a Wae WXbTdfT_X`fae _T\e ~Xefsd\e*/
a`WX eqa ^\_\fTWTe Te ~_TdZX`e WX _T`aUdT*1 =ae WXbTdfT_X`fae WX `TfgdXkT
Va`Y\WX`V\T^ ag ^\ZTWae Tae Vd\_Xe WX \`fX^\Zt`V\T/ baWX eXd W\ebX`eTWT g_T
TfX`rqa dXWaUdTWT1 ITe XefXe `qa bTeeT_ WX _\`\TfgdTe1 Ja Va`f\`ZX`fX Wae
fdTUT^[TWadXe WT Yg`rqa byU^\VT/ s _g\fa _T\e W\YuV\^/ eX `qa YadX_ XefTUX^XV\WTe
`ad_Te1 K _T\e \_badfT`fX s cgX ae Yg`V\a`od\ae byU^\Vae WXhX_ fXd T Va`eV\t`V\T
WX \`Vaddgbf\U\^\WTWX/ Vg]T W\hg^ZTrqa WXhX eXd \`fXZdTWT `T Yad_Trqa Wae _Xe_ae1
?Tea ae vdZqae byU^\Vae Va`e\ZT_ YTkXd _X^[ad/ T VTdZT Wa ??=? eXdo T^\h\TWT1
+ K dXeg_a WT X`fdXh\efT Wa Od1 HX\/ NXWTVfad0?[XYX Wa Fad`T^ Kg Ig`/ Ya\ bgU^\VTWa `a VTbufg^a ,@Xba\_X`fae WX IX_Udae WT OaV\XWTWX,/ WT XW\rqa XebXV\T^ ,32 =`ae X_
bda^ WT Da`Xef\WTWX X PdT`ebTdt`V\T X_ ITVTg,/ ^T`rTWT bX^a ??=?1 @XefT hXk/ bgU^\VT_ae a fXjfa \`fXZdT^ WT X`fdXh\efT/ eX`Wa ae egUfufg^ae TVdXeVX`fTWae bX^a XW\fad1
,
ABH<7478E
k @31R;^7</C5C@/2/ |/:/ 23 oF>=A7QW3A 2= mmkm
1=;>@33<23 B@SA >/@B3Ah / >@7;37@/] B3FB=A 3 7;/53<A
7<B@=2CBU@7=A M 67ABU@7/ 2= mmkm] AC/ 3AB@CBC@/ =@5O<71/]
/B@70C7QW3A 3 1=;>3BS<17/A 3 @3B@=A>31B7D/ 23 /:5C<A 1/A=A
23B31B/2=Ai / A35C<2/] ;/?C3B/A 2/A 7<AB/:/QW3A 2= mmkm 3
=0831B=A ;/B3@7/7A] 7<1:C7<2= /@;/A 23 4=5=] 0/:/A] /:53;/A 3
1/AA3^BSB3A 2/ >=:T17/] CA/2=A >3:= >3AA=/: 2= mmkm] 03;
1=;= A7;C:/2=@3A 23 A7BC/QW3A @3/7A 23 >@=13AA=Ai / B3@137@/]
2=7A 8=5=A 23AB7</2=A M /D/:7/QP= 2= 5@/C 2= 1=<6317;3<B=
2=A D7AB7B/<B3A A=0@3 = mmkm_
x= 27/ bb 23 |3B3;0@=] = mmkm @3/:7H=C] >3:/ >@7;37@/
D3H] 23A23 / AC/ 1@7/QP=] = Zn7/ 23 k03@BC@/ 2= mmkm /=
zX0:71=[] B3<2= @313072= 13@1/ 23 d`` D7A7B/<B3A_ z@3B3<23^A3
1=; 3AB/ /1B7D72/23 4/1C:B/@ C;/ />@=F7;/QP= 3<B@3 / 7<AB7BC7QP=
3 = >X0:71= 3 C;/ =>=@BC<72/23 23AB3 / 1=<6313@ ;3:6=@_ oABN
>@3D7AB/ / @3/:7H/QP= 23 =CB@/A D7A7B/A Y /<B317>/2/;3<B3
;/@1/2/A Y 2=A A3@D7Q=A >X0:71=A] /AA=17/QW3A 3 3A1=:/A] B3<2=
>=@ =0831B7D= = @34=@Q= 2/A /1QW3A 23 27DC:5/QP= 3 A3<A707:7H/QP=_
o<B72/23A 7<B3@3AA/2/A >=23; 1=<B/1B/@ = n3>/@B/;3<B= 23
{3:/QW3A m=;C<7BN@7/A /B@/DRA 2= <X;3@= 23 B3:34=<3 cbec``_
s</C5C@/QP= 2/ |/:/ 23 oF>=A7QW3A 2= mmkm] >@3A7272/ >3:=A m=;7AAN@7=A
1=<B@/ / 1=@@C>QP=] 23 w/1/C 3 r=<5 u=<5] @3A>31B7D/;3<B3] n@_ m63=<5
~ 3 n@_ v33 |7C^uE=<5
*7AB/ 2= 7<B3@7=@ 2/ |/:/ 23 oF>=A7QW3A
z@7;37@= Zn7/ 23 k03@BC@/ 2= mmkm /= zX0:71=[] <= 27/ bb 23
|3B3;0@=] 3 = 0=; /1=:67;3<B= 2/ 7<717/B7D/ >3:=A @3A723<B3A
yA @3A723<B3A 23;=<AB@/; 5@/<23 7<B3@3AA3
>3:= D72@= ;=<=^@34:31B=@ 2/ |/:/ 23
s23<B7471/QP=
-
ABH<7478E
y |C027@31B=@ 2= q/07<3B3 2=A kAAC<B=A 23 r=<5 u=<5 3 w/1/C
8C<B= 2= m=<A3:6= 2= oAB/2=] ,C .3] 23 D7A7B/ /= mmkm]
/1=;>/<6/2/ >3:/ 27@31QP= 2= mmkm
c]`\_]]_d
*7A7B/ 2= m=;7AAN@7= 2= w7<7ABR@7= 2=A x35U17=A oAB@/<537@=A 3;
w/1/C] n@_ +/< -=<5F7/<5] /= mmkm
c]b\_]]_d
y n@_ tX:7= z3@37@/] 3F^k28C<B= 2= m=;7AAN@7= 2= kmmmsk 3 /1BC/:
n7@31B=@ q3@/: 2=A |3@D7Q=A 23 kAAC<B=A 23 oAB@/<537@=A 3 w75@/QP=]
2/<2= /C:/A] 3; w/1/C] /=A 7<D3AB75/2=@3A 2= mmkm
c]`\_]]_d
{3>@3A3<B/<B3A 23 DN@7/A /AA=17/QW3A 2=A 4C<17=<N@7=A >X0:71=A 3
/ 27@31QP= 2= mmkm] 23>=7A 23 C;/ 1=<D3@A/
c]b\_]]_d
x/ 7</C5C@/QP= 2= A/@/C Y*/;=A 1=<AB@C7@ C;/ |=1732/23 s<1=@@C>B/Y
c]a\_]]_d
*7A7B/ 23 2=7A iqkvluqjr 2/ }/7:O<27/] n@_ z7163B |==<B=@<>7>7B
3 n@_ z==<AC> z7G/^k</<B
c^]\_]]_d
x/ g_I m=<43@S<17/ wC<27/: 2/ pC<2/QP= 23 z@3D3<QP= 2= m@7;3
</ KA7/ Zkmzp[ A=0@3 / z@3D3<QP= 2= m@7;3 3 / tCAB7Q/ m@7;7</:]
@3/:7H/2/ 3; }U?C7=] t/>P=] / m6343 2= q/07<3B3] n@/_ r= s=1 |/<]
3 = kAA3AA=@] n@_ u/ */7 *C] =43@313; :3;0@/<Q/ /= z@3A723<B3 2/
kmzp] n@_ uC<7679 |/9/7
c^]\_]]_d
*7A7B/ 2=A 3AB/57N@7=A 2= m3<B@= 23 p=@;/QP= tC@T271/ 3 tC2717N@7/
c^]\_]]_d
+*
6BA6GDEB C4D4 4 6BA68CMLB 78
WTVROU 8 PQWSRU 78 64DF4I8E
x= 27/ bd 23 k5=AB= @3/:7H/@/;^A3] <= v/@5=
2= |3</2=] / 13@7;U<7/ 23 /B@70C7QP= 23 >@R;7=A
2= 1=<1C@= >/@/ / 1=<13>QP= 23 C; upsnjr 3
lmuonr 23 1/@B/H3A A=0 = B3;/ Z*/;=A 1=<AB@C7@
C;/ |=1732/23 s<1=@@C>B/[ 3 / 3F>=A7QP= 2=A
B@/0/:6=A >@3;7/2=A_ y 1=<1C@A= B3D3 >=@
=0831B7D=Ah A3<A707:7H/@ / >=>C:/QP= >/@/ =A
D/:=@3A 2/ 8CAB7Q/ 3 2/ 7<1=@@C>B707:72/23 3 />3:/@
/ AC/ /23AP= M 1=<AB@CQP= 23 C;/ /2;7<7AB@/QP=
:7;>/ 3 7<1=@@C>B/_ z/@/ / 1=<13>QP= 2= upsnjr]
1=<1=@@3@/; cca B@/0/:6=A] 3 B=B/:7H/@/; aef
=A B@/0/:6=A />@3A3<B/2=A </ 1/B35=@7/ 23 lmuonr
23 1/@B/H3A Y = ?C3 7:CAB@/ 03; / @3>3@1CAAP=
>=A7B7D/ ?C3 = 3D3<B= B3D3_
oF>=A7QP= 23 B@/0/:6=A >@3;7/2=A
w3;0@=A 2= 8X@7 1=<13<B@/2=A </ />@317/QP= 2=A B@/0/:6=A
/>@3A3<B/2=A <= 1=<1C@A= 23 23A75< 23 1/@B/H3A
p=B=5@/47/ 3; 5@C>=] 23>=7A 2/ 13@7;U@7/ 23 3<B@35/ 23 >@R;7=A
y 8X@7 2= 1=<1C@A= 23 lmuonr 4=7 1=;>=AB= >=@h = n7@31B=@ 2/ oA1=:/ |C>3@7=@ 23 k@B3A 2= s<AB7BCB= z=:7BR1<71= 23 w/1/C] v37 m67
x5=9i = lmuonrmt 23 >C0:7172/23] m6/< r3<5 |/<5i = z@3A723<B3 2/ kAA=17/QP= 23 oABC2/<B3A m6=<5 +/ 23 w/1/Ci +=<5 |/7 z3<5i 3 2=7A
@3A>@3A3<B/<B3A 2= mmkm] m@7AB7</ }/<5 3 uC/< m6=< u7B_ y 8X@7 2= 1=<1C@A= 2= upsnjr 7<B35@=Ch = m==@23</2=@ 2/ oA1=:/ }C<5 x/;]
v37 w3<5 u37i = *713^z@3A723<B3 2= m=<A3:6= oF31CB7D= 3 / |31@3BN@7/^q3@/: 2/ kAA=17/QP= 23 o2C1/QP= 23 w/1/C] r= |7= u/;i = |31@3BN@7=
2= m=<A3:6= mC:BC@/: 2/ kAA=17/QP= q3@/: 2=A y>3@N@7=A 23 w/1/C] m6/< +/7 m6C<i = z@3A723<B3 2/ kAA=17/QP= 23 oABC2/<B3A m6=<5
+/ 23 w/1/C] +=<5 |/7 z3<5i >/@/ /:R; 2=A @3A>@3A3<B/<B3A 2= mmkm] m@7AB7</ }/<5 3 z3B3@ +=<5_
FD454?;B 78 FBA: 6;BA:1
3J 6?4EE<9<647B 7B :DGCB
CN5?<6B 8@ PQWSRU 78
64DF4I8E
y a_J 1:/AA7471/2= 2= q@C>= zX0:71=]
}=<5 m6=<5] 27AA3 ?C3 >@=1C@=C CA/@
C;/ :7<5C/53;] = ;/7A A7;>:3A >=AATD3:]
</ @3>@3A3<B/QP= 2=A @3AC:B/2=A 2=
1=;0/B3 M 1=@@C>QP=] 1=; = =0831B7D=
23 /2/>B/@ / B@/<A;7AAP= 2/ ;3<A/53;]
>=@ ;37= 23 1/@B/H] /= @7B;= 2/
A=1732/23] B@/2CH72= <= 4/1B= 23 =
>X0:71= <P= B3@ ;C7B= B3;>= >/@/ :3@
=A 1/@/1B3@3A <=A 1/@B/H3A_ {3D3:=C ?C3
:63 B7<6/; AC@572= ;C7B/A 7237/A 3 ?C3
/1/0=C >=@ 1@7/@ / 7;/53; 23 Za \ a j
b[] ?C3 23>=7A 23 />3@437Q=/;3<B=]
/16=C @/H=ND3:_
++
6BA6GDEB C4D4 4 6BA68CMLB 78
WTVROU 8 PQWSRU 78 64DF4I8E
FD454?;B 78 ?88 @<A: E4A1 32J 6?4EE<9<647B
7B :DGCB 78 8E6B?4E E86GA7KD<4E
/@4AG4?0 8@ PQWSRU 78 64DF4I8E
y a_J 1:/AA7471/2= 2= q@C>= 23 oA1=:/A |31C<2N@7/A Zw/<C/:[
3; n3A75< 23 m/@B/H3A] v33 w7<5 |/<] 7<A>7@=C^A3 </A 2C/A
;P=A] @3B@/B/2/A <= 4@3A1= ftojxws ls hsqmq] 23 w7163:/<53:=
lC=</@@=B7_ x/ =0@/ 23 v33] /A 2C/A ;P=A @3>@3A3<B/;]
@3A>31B7D/;3<B3] =A @3A723<B3A 3 =A 4C<17=<N@7=A >X0:71=A]
3; D3H 23 k2P= 3 z/7] <C;/ ;3BN4=@/ ?C3 4/H />3:= M
7<1=@@C>B707:72/23] 23 C<A 3 2=CB@=A_ k 1=@ >@3B/] ?C3 2=;7</
= B@/0/:6=] AC53@3 ?C3 =A 1=@@C>B=A <C<1/ 3<1=<B@P= :CH]
<= 4CBC@=_ z=@ AC/ D3H] =A 1/@/1B3@3A 3; D3@;3:6= 3<13@@/;
C;/ /:3@B/ >/@/ <P= >@/B71/@ /1B=A 23 1=@@C>QP=_
FD454?;B 78 =BLB ;<1 32J 6?4EE<9<647B 7B
:DGCB 78 8E6B?4E CD<@KD<4E 8@ PQWSRU 78
64DF4I8E
y a_J 1:/AA7471/2= 2= q@C>= 23 oA1=:/A z@7;N@7/A 3; gmuonr
23 m/@B/H3A] t=P= r7] R 2/ oA1=:/ m=<1U@27/ >/@/ o<A7<= oA>317/:_
k47@;=C ?C3] >/@/ / AC/ >/@B717>/QP= <= 1=<1C@A=] 4=7
7<27A>3<AND3: / /8C2/ 2= A3C 7@;P= ;/7A D3:6=] ?C3 :63 3F>:71=C
=A B3@;=A 2= @35C:/;3<B= 2= 1=<1C@A=_ x= A3C 1/@B/H] CA=C
= q:=0= >/@/ @3>@3A3<B/@ / A=1732/23 6C;/</ 3 / ;/<743AB/QP=
2= 23A38= 23 @3C<7@ =A 3A4=@Q=A 23 B=2=A >/@/ 1=<AB@C7@ C;/
A=1732/23 :7;>/ 3 7<1=@@C>B/_
FD454?;B 78 6;4A EB< >4@1 32J 6?4EE<9<647B 8@
6BA68CMLB 78 WTVROU
m6/< |=7 u/; 1=;>VA B@SA A:=5/<A >/@/ = 1=<1C@A=] 2/2= A3@ 3AA3 =
<X;3@= ;NF7;= 23 B@/0/:6=A ?C3 1/2/ >/@B717>/<B3 >=27/ />@3A3<B/@_ k
D3<132=@/ 2= 1=<1C@A= 1=<43AA=C ?C3 / D7BU@7/ 4=7] >/@/ A7] C;/ /5@/2ND3:
AC@>@3A/_
Zo<D723;=A B=2=A =A 3A4=@Q=A <= 1=;0/B3 M 1=@@C>QP=] >/@/ 1@7/@;=A
8C<B=A C;/ A=1732/23 7<1=@@C>B/[] 27H = upsnjr 1=;>=AB= >=@ m6/< |=7
u/;_ k /CB=@/ 5/:/@2=/2/ :3;0@=C B3@ A72= @3>3B72/;3<B3 /0A=@D72/] </
1=<13>QP= 2= upsnjr] >3:= 23A38= 23 @3/:Q/@ / 7237/ 23 ?C3 C;/ A=1732/23
7<1=@@C>B/ 23>3<23 2=A 3A4=@Q=A 23 B=2=A 3 ?C3 >@=;=D3@ = 1=;0/B3 M
1=@@C>QP= R C; 23D3@ 2/ >=>C:/QP= 3 2= q=D3@<=_ k47@;=C ?C3 / @7;/
2/ 4@/A3 4=7 1=<B3;>:/2/ </ 1@7/QP= 3 ?C3 = B@/0/:6=] 27AB7<5C72= <=
1=<1C@A=] @3AC:B=C 23 ;X:B7>:/A @3D7AW3A_ L 23A38= 23 m6/< ?C3 = upsnjr]
>=@ 3:/ 1=<13072/] 1=<B@70C/ >/@/ @34=@Q/@ / 1=<A17S<17/ 23 7<1=@@C>B707:72/23
2= >X0:71=_
m/:75@/47/ 23 r= z/<
yz
E86BEG8F 78 =BEA4<F
y{
?8:<F?4]\B +C8E:HAG4F 8 E8FCBFG4F,
6[ 8FG[- 78 ABIB- B DH8F<GB* 6B@B
6B@5<A47B- 9B< BHI<E 4F 8JC?<64]_8F
7B 7BHGBE F4587BE FB5E8 4
`CEBI87BE<4 78 =HFG<]4a/ 8 8AGEBH
7<E86G4@8AG8 AB 4FFHAGB/
L; JZ Nc1 Ac1/ \m ][ ` X`]ZWe` V` @@>@1 A[i Sbf[/ _` 61j a`_e`
VSd dfSd Sec[Tf[puWd/ wKc`^`gWc S VWXWdS V`d V[cW[e`d/
][TWcVSVWd/ YScS_e[Sd W [_eWcWddWd ]WYse[^`d VSd aWdd`Sd/
SddWYfcS_V` S \fde[pS/ S ]WYS][VSVW W S WX[U[r_U[S VS
>V^[_[decSpo` KvT][US1x @`^` q bfW ` @@>@ SddWYfcS
S \fde[pS/ S ]WYS][VSVW W S WX[U[r_U[S VS >V^[_[decSpo` KvT][US=
N; J]ZS/ LfWd[e`/ SddWYfcS VW gmc[Sd X`c^Sd1 B^ ac[^W[c`
]fYSc/ cWUWTW_V` W S_S][dS_V` Sd bfW[hSd SacWdW_eSVSd
aW]`d U[VSVo`d d`TcW []WYS][VSVWd W [ccWYf]Sc[VSVWd
SV^[_[decSe[gSd/ U`^We[VSd aW]`d Xf_U[`_mc[`d `f SYW_eWd
avT][U`d1 NW dW ac`gSc S gWcSU[VSVW VS bfW[hS/ ` @@>@
WdU`]ZW S ^W]Z`c W ^S[d WX[USi X`c^S VW U`cc[Y[c S d[efSpo`1
L; HSd U`^` q bfW ` @@>@ dSTW bfS] q S ^W]Z`c X`c^S=
N; Ede` VWaW_VW/ ld gWiWd/ VS XSdW W^ bfW dW W_U`_ecS^ `d
SUe`d VW []WYS][VSVW `f [ccWYf]Sc[VSVW SV^[_decSe[gS1 Q`f
VSc WhW^a]` aScS eW Wha][USc ^W]Z`c1 NW/ a`c WhW^a]`/ `
ac`UWV[^W_e` S[_VS Wde[gWc S U`ccWc `f ` SUe` VW]W
VWU`ccW_eW S[_VS _o` e[gWc ac`Vfi[V` WXW[e`d/ ` @@>@/
VW f^S [_eWcgW_po` [_X`c^S]/ U`_eSUeS U`^ ` dWcg[p`
`T\WUe` VS bfW[hS W SacWdW_eS0]ZW dfYWdeuWd aScS U`cc[Y[c
S d[efSpo`1 B_X[^/ wS \fde[pS `a`cef_S q UWceS^W_eW ^W]Z`c
V` bfW S \fde[pS SecSdSVSx+
L; K`[d q/ Nc1 Ac1+ >_eWd/ Wf \f]YSgS bfW bfS_V` Z`fgWddW
bfW[hS S` @@>@/ ZSg[S ]`Y` f^ ac`UWdd`+
N; Edd` q f^S acme[US ecSV[U[`_S]/ W^T`cS ld gWiWd _o` aScWpS
S ^W]Z`c d`]fpo`1 k bfW ` `T\WUe[g` V` @@>@ q XSiWc U`^
bfW ` SUe` VW []WYS][VSVW `f [ccWYf]Sc[VSVW SV^[_[decSe[gS
dW\S U`cc[Y[V` VS X`c^S ^S[d cma[VS aW]` dWcg[p` W^ USfdS1
LfS_e` ^S[d cma[VS dW\S S U`ccWUpo`/ gWc[X[US0dW S ^W]Z`c
WX[UmU[S _S ac`eWUpo` V`d V[cW[e`d W [_eWcWddWd V`d cWd[VW_eWd1
L; >Z/ Wde`f S gWc+
N; >]q^ V[dd`/ bfS_V` ` @@>@ SUZS U`_gW_[W_eW bfW S
bfWdeo` dW\S ecSeSVS aW]` dWcg[p` U`^aWeW_eW W S bfWdeo`
W_g`]gW SaW_Sd [_eWcWddWd aSce[Uf]ScWd V` bfW[h`d`/ VWa`[d
VW `TeWc S dfS U`_U`cVn_U[S cW^WeW S bfW[hS aScS SbfW]W
dWcg[p` W SU`^aS_ZS S dfS cWd`]fpo`1 J @@>@ dt XSi S
ecSV[U[`_S] [_decfpo` VW ac`UWdd`d bfS_V` gr bfW _W_Zf^S
VSd VfSd X`c^Sd/ bfW SUSTW[ VW eW Wha][USc/ q SVWbfSVS1 >s/
X[_VS S [_decfpo` V` ac`UWdd`/ ` @@>@ W^[eW cWU`^W_VSpo`
`f dfYWdeo` V[c[Y[VS S` dWcg[p` W^ USfdS/ dW S U[cUf_den_U[S
` SU`_dW]ZSc1
L; B dW WddW dWcg[p` _o` ][YSc l cWU`^W_VSpo` V` @@>@/ `
bfW q bfW SU`_eWUW=
N; NW WddW dWcg[p` _o` SUW[eSc S cWU`^W_VSpo` V` @@>@ eW^
bfW ]ZW Wha][USc a`cbfr/ _` acSi` VW :2 V[Sd1 NW _o` `
X[iWc/ ` @@>@ a`VW VSc VW _`g` S U`_ZWUWc S dfS a`d[po`
S` dfaWc[`c Z[Wcmcbf[U` `f l efeW]S VSbfW]W dWcg[p`/ W Seq
a`VW ]WgSc ` Sddf_e` S` U`_ZWU[^W_e` V` @ZWXW V`
BhWUfe[g` W cWgW]m0]` afT][US^W_eW1 HSd `]ZS/ LfWd[e`/ S
YcS_VW ^S[`c[S VSd cWU`^W_VSpuWd V` @@>@ eW^ d[V`
SUW[eW aW]`d dWcg[p`d1 HS[d V` bfW [dd`+ Qmc[`d dWcg[p`d
aWVW^ Sa`[` S` @@>@ aScS `d S\fVSc S ^W]Z`cSc ` dWf
Xf_U[`_S^W_e`1
L; @`^` q bfW ` @@>@ `d a`VW S\fVSc=
N; > ac[^W[cS ^S_W[cS q cWS][iSc f^S waWdbf[dS VW
Xf_U[`_S^W_e`x1 Jf dW\S/ ` @@>@ cWS][iS/ W^ U`_\f_e`
U`^ ` dWcg[p` W^ USfdS/ S aWdbf[dS W S S_m][dW V`
Xf_U[`_S^W_e` VWdeW v]e[^`; V[SY_`de[US^0dW `d ac`T]W^Sd<
ac`UWVW0dW l V[dUfddo` W S` WdefV` VSd ^W]Z`cWd d`]fpuWd
aScS `d WccSV[USc `f ^W]Z`cSc< W/ dW^acW U`_dW_dfS]^W_eW/
` @@>@ W ` dWcg[p` VWX[_W^ Sd ^WV[VSd bfW VWgW^ dWc
e`^SVSd aScS `ae[^[iSc ` Xf_U[`_S^W_e` SV^[_[decSe[g`
W YScS_e[c S ]WYS][VSVW+
L; >Z+ >X[_S]/ q [dd` S aWdbf[dS VW Xf_U[`_S^W_e`+ B Zm `fecSd
aWdbf[dSd=
N; N[^/ LfWd[e`+ k S aWdbf[dS VW cWY[^Wd1 Ede` q/ S` VWdU`Tc[c/
_` VWU`ccWc VW [_gWde[Yo` VW ac`UWdd`/ S Wh[der_U[S VW
]SUf_Sd/ [_dfX[U[r_U[Sd/ U`_ecSV[puWd W VWdSUefS][iSpuWd W^
S]Yf_d cWY[^Wd \fcsV[U`d/ ` @@>@ ac`UWVW S f^S S_m][dW
d[deW^me[US W [_eWYcS]/ aScS VWa`[d W^[e[c dfYWdeuWd bfW
g[dS^ ` dWf ^W]Z`cS^W_e` W SUefS][iSpo`1
L; N[^ NW_Z`c+ >X[_S] ` @@>@ eW^ Xf_puWd [^a`ceS_esdd[^Sd
aScS S g[VS VSd aWdd`Sd/ S]q^ V` U`^TSeW l U`ccfapo`1
N; @]Sc`/ LfWd[e`+ B U`^ S S\fVS W ` Sa`[` VW e`V`d/ ` @@>@
a`VW dWc S[_VS ^f[e` ^S[d WX[USi / U`_ec[Tf[_V` aScS bfW
S g[VS _S M>BH dW\S USVS gWi ^W]Z`c 1
B DH8F<GB 4:E47868H 4B 7E/ F4587BE 8
9B<.F8 8@5BE4/
y|
@<E47BHEB
4 <646 +<{vw}w{vw{+ u|zy**y|{ txty{*+
u|~~,}+y|{, 8 4 CB?^6<4 78 ;BA: >BA: =HAGBF
A4 <AI8FG<:4]\B 78 H@ 64FB 78 6BEEHC]\B 8
?4I4:8@ 78 7<A;8<EB
> E@>@ VW D`_Y F`_Y [_deSfc`f/ W^ : VW NWeW^Tc` VW 4224/
f^ ac`UWdd` U`_ecS `[e` aWdd`Sd/ [_U]f[_V` f^ Wh0YWcW_eW dfaWc[`c
TS_Umc[`/ S]WYSVS^W_eW W_g`]g[VSd _f^ USd` VW ]SgSYW^ VW V[_ZW[c`
ecS_dXc`_eW[c[pS/ XSU[][eSVS aW]S U`ccfapo`/ W bfW W_g`]gW f^ ^`_eS_eW
VW 72 T[]ZuWd VW Vt]ScWd VW D`_Y F`_Y1
IS `c[YW^ VWdeS SUpo` \fV[U[S] WdeWgW f^S VW_v_U[S VW U`ccfapo`
cWUWT[VS aW]S E@>@/ S]WYS_V` bfW f^ YWcW_eW dfaWc[`c TS_Umc[`
eWcm SUW[eW dfT`c_`d aScS XSU[][eSc SUe[g[VSVWd VW ]SgSYW^ VW V[_ZW[c`1
IS dWbfr_U[S Vf^S `aWcSpo` VS E@>@/ W^ NWeW^Tc` VW 4223/
bfW U`_Vfi[f l VWeW_po` VW 5: aWdd`Sd/ X`[ Uc[SV` f^ Ycfa` VW
[_gWde[YSpo`/ U`^a`de` a`c [_gWde[YSV`cWd VS E@>@ W a`c `X[U[S[d
V` enkjhirp dnlliohjfk dojli cqoifq/ U`^ g[deS l aWdbf[dS V`d gmc[`d
SdaWUe`d VWdeW USd`/ [_U]f[_V` U`ccfapo`/ ]SgSYW^ VW V[_ZW[c` W
Tfc]S1
NW[d V`d `[e` ScYf[V`d X`cS^ SUfdSV`d VW f^ e`eS] VW dW[d Uc[^Wd
VW U`ccfapo` W ]SgSYW^ VW V[_ZW[c` W ` Wh0YWcW_eW dfaWc[`c TS_Umc[`
X`[ SUfdSV` VW ^S[d V`[d Uc[^Wd/ _`d eWc^`d V` MWYf]S^W_e` VW
KcWgW_po` VW NfT`c_`/ a`c SUW[eSc W^acqde[^`d/ e`eS][iS_V`
PN,42/222/ VW f^ `fec` ScYf[V` -SUU[`_[deS W V[cWUe`c Vf^S
W^acWdS./ W^ VfSd `USd[uWd/ cWdaWUe[gS^W_eW/ W^ 3::8 W 4223/
W^ ec`US V` XSg`cWU[^W_e` V[daW_dSV` S`d _WYtU[`d bfW S W^acWdS
e[_ZS U`^ ` TS_U`/ `_VW ecSTS]Z`f1
Jd a`ceS0g`iWd VS E@>@ W VS a`]sU[S S]WceScS^ `d cWd[VW_eWd
aScS _o` aSce[U[aScW^ _Sd SUe[g[VSVWd []WYS[d VW U`ccfapo`/ Tfc]S
U`^WcU[S] W ]SgSYW^ VW V[_ZW[c`/ bfW do` Uc[^Wd ^f[e` dqc[`d1 B^acWYSV`d TS_Umc[`d W US^T[deSd bfW SUW[eW^ dfT`c_`d aScS S\fVScW^ S
ecSeSc ac`gW[e`d VW Uc[^Wd do` aSddsgW[d VW dWcW^ ac`UWddSV`d1
+7U YOMWRXO NL <646 NO ;UTP >UTP- 3 NO FOXOSMVU NO 1001,
8J.CE8F<78AG8 7B 54A6B ;H4J<4 6BA78A47B
4 2 4ABF 78 CE<F\B CBE 6E<@8 78 6BEEHC]\B
J ac`UWdd` VW Uc[^W VW U`ccfapo` V` Wh0KcWd[VW_eW V`
?S_U` DfSh[S/ AfS_ R[S`h[_/ \m X`[ \f]YSV` aW]` Kc[^W[c` Oc[Tf_S]
VW E_den_U[S E_eWc^qV[S VW ?W[\_Y1 @`_X`c^W S VWU[do` V` ec[Tf_S]
_` ac[^W[c` \f]YS^W_e`/ ` ScYf[V` X`[ U`_VW_SV` S aW_S VW
ac[do` VW 8 S_`d/ dW_V` U`_X[dUSV` ` dWf acSec[^t_[` aSce[Uf]Sc
_` gS]`c VW 92 ^[] cW_^[_T[1
B^ AWiW^Tc` VW 3::9/ Sac`gW[eS_V` S U`_gW_[r_U[S VSd
dfSd Xf_puWd U`^` KcWd[VW_eW V` ?S_U` DfSh[S/ AfS_ SUW[e`f
` aWV[V` VW W^acqde[^` XW[e` a`c f^ W^acWdmc[` VW SaW][V`
@S[/ W^ _`^W Vf^S W^acWdS/ W Sfe`c[i`f S Sec[Tf[po` Vf^
W^acqde[^` _` gS]`c VW 372 ^[]ZuWd VW oimljmgj/ dW^ eWc
WXWUefSV` f^S aWdbf[dS Uf[VSV`dS d`TcW `d V`Uf^W_e`d XS]d`d
VW][TWcSVS^W_eW X`c_WU[V`d aW]` ^Wd^`1 KScS eS]/ ` ScYf[V`
SUW[e`f VfSd gWiWd/ cWdaWUe[gS^W_eW W^ CWgWcW[c` W >Tc[] VW
3:::/ `XWceSd VW @S[ e`eS][iS_V` 72 ^[] oimljmgj W 5 ^[] Vt]ScWd
S^Wc[US_`d1
J ec[Tf_S] U`_d[VWc`f bfW W_bfS_e` Xf_U[`_mc[` avT][U`/
AfS_ Sac`gW[e`f S U`_gW_[r_U[S VSd dfSd Xf_puWd aScS XSU[][eSc
S f^ W^acWdmc[` S `TeW_po` VW [_eWcWddWd []WYS[d W SUW[e`f
[]WYS]^W_eW V[_ZW[c` VW `fecSd aWdd`Sd/ SUe` WddW bfW \m U`_de[ef[
` Uc[^W VW U`ccfapo` aSdd[gS1
+7U YOMWRXO NL KQUTPZRT AOX- 11 NO 4PUWXU NO 1001 ,
I`eS V` WV[e`c; AW SU`cV` U`^ ` Sce[Y` 51j VS GW[ JcYn_[US V` @`^[ddSc[SV` U`_ecS S @`ccfapo` VW HSUSf/ S SUe[g[VSVW VSd [_de[ef[puWd VW UcqV[e`
U`_d[VWcS0dW STcS_Y[VS _Sd Sec[Tf[puWd V` @@>@/ cWXWcW_eWd l [_gWde[YSpo` aW_S]1
y}
6<G4]\B
Jd V[Sd actdaWc`d _o` gr^ SUSd`< do`
YcS_\WSV`d/ U`^` Sd dWScSd/ U`^ ^f[eS XSV[YS
W U`^ ^f[e`d [_eWcgS]`d VW VWdS]W_e`1
0 @S^[]` @1 ?cS_U`
C`e`YcSX[S VW @ZS_ Ff`_Y @Z`_Y
\V X U T W Y Z W S [
2B@>EE8D>8;B :BAFD8 8 2BDDGCKJB , 7134
hypztsp j*` ip*y|+ s7h++-z}54|^ ksxu` :A><?@A ;=<B<9 be1 p{sp*`
mx{wp ot*ztywp _ ce w|*p+g dfbcbc
lp0 _ dfcddf w,,}gaa///`rrpr`|*v`z|
ip+| ,t{wp r|{wtrxzt{,| st }*|.3.tx+ pr,|+ st r|**-}54| t st xytvpyxspst
pszx{x+,*p,x.p^ ~-tx*p r|{,pr,p* r|z | iihi t u|*{t5p_{|+ ,|sp+ p+ x{u|*zp56t+ p|
+t- pyrp{rt` n +t- p}|x| t r|ypq|*p54| +4| x{sx+}t{+3.tx+ }p*p | +-rt++| sp }*t.t{54|
t s| r|zqp,t 2 r|**-}54|`
IRDPFDLNQ D ENMHJFGMEJDKJFDFG FDQ QRDQ ORGJSDQ