Aci 117-10
Aci 117-10
Aci 117-10
7TIGMJMGEXMSRJSV8SPIVERGIWJSV'SRGVIXI
'SRWXVYGXMSRERH1EXIVMEPW%'-1
ERH'SQQIRXEV]
%R%'-7XERHEVH
6ITSVXIHF]%'-'SQQMXXII
)PHSR+8MTTMRK 7GSXX1MGLEIP%RHIVWSR
'LEMV 7IGVIXEV]
7TIGMJMGEXMSRW]RSTWMW8LMWWTIGMJMGEXMSRTVSZMHIWWXERHEVHXSPIVERGIWJSVGSRGVIXIGSRWXVYGXMSRERHQEXIVMEPW8LMWHSGYQIRXMWMRXIRHIHXSFIYWIH
F]WTIGMJMGEXMSR[VMXIVWERH%'-GSQQMXXIIW[VMXMRKWXERHEVHWEWXLIVIJIVIRGIHSGYQIRXJSVIWXEFPMWLMRKXSPIVERGIWJSVGSRGVIXIGSRWXVYGXMSR
ERHQEXIVMEPW
/I][SVHWEVGLMXIGXYVEPGSRGVIXIGSRGVIXIGSRWXVYGXMSRHVMPPIHTMIVWJSVQ[SVOJSYRHEXMSRQEWWGSRGVIXITMIVTVIGEWXGSRGVIXITVIWXVIWWIHGSRGVIXI
VIMRJSVGIHGSRGVIXIVIMRJSVGIQIRXWTIGMJMGEXMSRWTPMGIXMPXYTGSRGVIXIXSPIVERGIW
%'-17TIGMJMGEXMSRERH'SQQIRXEV]EVITVIWIRXIHMREWMHI
%'-'SQQMXXII6ITSVXW+YMHIW1ERYEPWERH'SQQIRXEVMIW F]WMHI GSPYQRJSVQEX[MXLGSHIXI\XTPEGIHMRXLIPIJXGSPYQR
EVIMRXIRHIH JSV KYMHERGI MR TPERRMRK HIWMKRMRKI\IGYXMRK ERH XLI GSVVIWTSRHMRK GSQQIRXEV] XI\X EPMKRIH MR XLI VMKLX
GSPYQR8SHMWXMRKYMWLXLIWTIGMJMGEXMSRJVSQXLIGSQQIRXEV]XLI
ERHMRWTIGXMRKGSRWXVYGXMSR8LMWHSGYQIRXMWMRXIRHIHJSVXLI
WTIGMJMGEXMSRLEWFIIRTVMRXIHMR,IPZIXMGE[LMGLMWXLIX]TIJEGI
YWI SJ MRHMZMHYEPW [LS EVI GSQTIXIRX XS IZEPYEXI XLI
JSVXLMWTEVEKVETL
WMKRMJMGERGIERHPMQMXEXMSRWSJMXWGSRXIRXERHVIGSQQIRHEXMSRW
ERH[LS [MPPEGGITXVIWTSRWMFMPMX]JSV XLIETTPMGEXMSR SJXLI 8LI'SQQIRXEV]MWTVMRXIHMR8MQIW6SQER[LMGLMWXLIX]TIJEGIJSV
QEXIVMEPMXGSRXEMRW8LI%QIVMGER'SRGVIXI-RWXMXYXIHMWGPEMQW XLMWTEVEKVETL'SQQIRXEV]WIGXMSRRYQFIVWEVITVIGIHIHF]XLIPIXXIV
ER]ERHEPPVIWTSRWMFMPMX]JSVXLIWXEXIHTVMRGMTPIW8LI-RWXMXYXI w6x XS HMWXMRKYMWL XLIQ JVSQ WTIGMJMGEXMSR WIGXMSR RYQFIVW 8LI
WLEPPRSXFIPMEFPIJSVER]PSWWSVHEQEKIEVMWMRKXLIVIJVSQ GSQQIRXEV]MWRSXETEVXSJ%'-7TIGMJMGEXMSR1
6IJIVIRGI XS XLMW HSGYQIRX WLEPP RSX FI QEHI MR GSRXVEGX
HSGYQIRXW-JMXIQWJSYRHMRXLMWHSGYQIRXEVIHIWMVIHF]XLI %'-1WYTIVWIHIW%'-ERH[EWEHSTXIH1EVGLERHTYFPMWLIH
%VGLMXIGX)RKMRIIVXSFIETEVXSJXLIGSRXVEGXHSGYQIRXWXLI] .YP]
'ST]VMKLX%QIVMGER'SRGVIXI-RWXMXYXI
WLEPPFIVIWXEXIHMRQERHEXSV]PERKYEKIJSVMRGSVTSVEXMSRF] %PPVMKLXWVIWIVZIHMRGPYHMRKVMKLXWSJVITVSHYGXMSRERHYWIMRER]JSVQSVF]ER]
QIERW MRGPYHMRK XLI QEOMRK SJ GSTMIW F] ER] TLSXS TVSGIWW SV F] IPIGXVSRMG SV
XLI%VGLMXIGX)RKMRIIV QIGLERMGEPHIZMGITVMRXIH[VMXXIRSVSVEPSVVIGSVHMRKJSVWSYRHSVZMWYEPVITVSHYGXMSR
SVJSVYWIMRER]ORS[PIHKISVVIXVMIZEPW]WXIQSVHIZMGIYRPIWWTIVQMWWMSRMR[VMXMRK
MWSFXEMRIHJVSQXLIGST]VMKLXTVSTVMIXSVW
1
1 %'-78%2(%6('311)28%6=
'328)287 {,SVM^SRXEPHIZMEXMSR
-RXVSHYGXMSRT1 {:IVXMGEPHIZMEXMSR
{'VSWWWIGXMSREPHMQIRWMSR
7IGXMSR{+IRIVEPVIUYMVIQIRXWT1
{(IZMEXMSRJVSQTPERI
{7GSTI
{6IUYMVIQIRXW
7IGXMSR{'EREPPMRMRKT1
{(IJMRMXMSRW {,SVM^SRXEPHIZMEXMSR
{6IJIVIRGIHWXERHEVHW {:IVXMGEPHIZMEXMSR
{'VSWWWIGXMSREPHMQIRWMSRW
7IGXMSR{1EXIVMEPWT1
{6IMRJSVGMRKWXIIPJEFVMGEXMSRERHEWWIQFP]
7IGXMSR{1SRSPMXLMG[EXIVGSRZI]MRKXYRRIPW
{6IMRJSVGIQIRXPSGEXMSR WMTLSRWGSRHYMXWERHWTMPP[E]WT1
{4PEGIQIRXSJIQFIHHIHMXIQWI\GPYHMRKHS[IPWMR {,SVM^SRXEPHIZMEXMSR
WPEFWSRKVSYRH {:IVXMGEPHIZMEXMSR
{'SRGVIXIFEXGLMRK {'VSWWWIGXMSREPHMQIRWMSRW
{'SRGVIXITVSTIVXMIW {(IZMEXMSRJVSQTPERI
7IGXMSR{*SYRHEXMSRWT1 7IGXMSR{'EWXMRTPEGIFVMHKIWT1
{(IZMEXMSRJVSQTPYQF {(IZMEXMSRJVSQTPYQF
{(IZMEXMSRJVSQPSGEXMSR {,SVM^SRXEPHIZMEXMSR
{(IZMEXMSRJVSQIPIZEXMSR {:IVXMGEPHIZMEXMSR
{(IZMEXMSRJVSQTPERI {0IRKXL[MHXLSVHITXLSJWTIGMJMIHIPIQIRXW
{(IZMEXMSR JVSQ GVSWWWIGXMSREP HMQIRWMSRW SJ {(IZMEXMSRJVSQTPERI
JSYRHEXMSRW {(IGOVIMRJSVGIQIRXGSZIV
{&IEVMRKTEHW
7IGXMSR{'EWXMRTPEGIGSRGVIXIJSVFYMPHMRKW
T1
{(IZMEXMSRJVSQTPYQF 7IGXMSR{)\XIVMSVTEZIQIRXWERHWMHI[EPOW
T1
{(IZMEXMSRJVSQPSGEXMSR {,SVM^SRXEPHIZMEXMSR
{2SXYWIH {:IVXMGEPHIZMEXMSRSJWYVJEGI
{(IZMEXMSRJVSQIPIZEXMSR
{(IZMEXMSRJVSQGVSWWWIGXMSREPHMQIRWMSRW 7IGXMSR{'LMQRI]WERHGSSPMRKXS[IVW
{(IZMEXMSRJVSQJSVQIHSTIRMRK[MHXLSVLIMKLX T1
{(IZMEXMSRJVSQVIPEXMZIIPIZEXMSRWSV[MHXLWJSVWXEMVW {(IZMEXMSRJVSQTPYQF
{(IZMEXMSRJVSQWPSTISVTPERI {3YXWMHIWLIPPHMEQIXIV
{7E[GYXHITXLMRWPEFSRKVSYRH {;EPPXLMGORIWW
7IGXMSR{'EWXMRTPEGIGSRGVIXIEXMRXIVJEGI[MXL 7IGXMSR{'EWXMRTPEGIRSRVIMRJSVGIHTMTI
TVIGEWXGSRGVIXII\GITXXMPXYTGSRGVIXI
T1 T1
{(IZMEXMSRJVSQIPIZEXMSR{GEWXMRTPEGIGSRGVIXI {;EPPXLMGORIWW
{(IZMEXMSRJVSQPSGEXMSR{GEWXMRTPEGIGSRGVIXI {4MTIHMEQIXIV
{(IZMEXMSRJVSQHMQIRWMSR{GEWXMRTPEGIGSRGVIXI {3JJWIXW
{(IZMEXMSR JVSQ TPERI EX FIEVMRK WYVJEGI{GEWXMR {7YVJEGIMRHIRXEXMSRW
TPEGI GSRGVIXI QIEWYVIH SZIV PIRKXL SV [MHXL SJ {+VEHIERHEPMKRQIRX
FIEVMRKWYVJEGI {'SRGVIXIWPYQT
7IGXMSR{1EWSRV]T1 7IGXMSR{8MPXYTGSRGVIXIT1
8LMWWIGXMSRLEWFIIRVIQSZIH {4ERIPJSVQMRK
{(IZMEXMSRJVSQTPYQF
7IGXMSR{'EWXMRTPEGIZIVXMGEPP]WPMTJSVQIH {(IZMEXMSRJVSQIPIZEXMSR
FYMPHMRKIPIQIRXWT1 {(IZMEXMSRJVSQPSGEXMSR
{(IZMEXMSRJVSQTPYQFJSVFYMPHMRKWERHGSVIW {(IZMEXMSRJVSQWPSTISVTPERI
{,SVM^SRXEPHIZMEXMSR {(IZMEXMSRJVSQVIPEXMZI[MHXLW
{'VSWWWIGXMSREPHMQIRWMSRW
{3TIRMRKWXLVSYKLIPIQIRXW 2SXIWXS7TIGMJMIVT1
{)QFIHHIHTPEXIW +IRIVEPRSXIW
{(IZMEXMSR JVSQ TPYQF JSV WPMTJSVQIH ERH NYQT
JSVQIHWMPSW *SVI[SVHXSGLIGOPMWXWT1
1ERHEXSV]6IUYMVIQIRXW'LIGOPMWXT1
7IGXMSR{1EWWGSRGVIXIT1
{(IZMEXMSRJVSQTPYQF 3TXMSREP6IUYMVIQIRXW'LIGOPMWXT1
830)6%2')7*36'32'6)8)'327869'8-32 1
-2863(9'8-32
74)'-*-'%8-32 '311)28%6=
8LMWGSQQIRXEV]TIVXEMRWXSw7TIGMJMGEXMSRWJSV8SPIVERGIW
JSV 'SRGVIXI 'SRWXVYGXMSR ERH 1EXIVMEPW %'- 1
x
8LITYVTSWISJXLIGSQQIRXEV]MWXSTVSZMHIERMPPYWXVEXMZI
ERH REVVEXMZI GSQTPIQIRX XS XLI WTIGMJMGEXMSR MX MW RSX E
TEVXSJXLIWTIGMJMGEXMSR
)GSRSQMGJIEWMFMPMX]{8LIWTIGMJMIHHIKVIISJEGGYVEG]LEW
EHMVIGXMQTEGXSRXLIGSWXSJTVSHYGXMSRERHXLIGSRWXVYGXMSR
QIXLSH -R KIRIVEP XLI LMKLIV HIKVII SJ GSRWXVYGXMSR
EGGYVEG]VIUYMVIHXLILMKLIVXLIGSRWXVYGXMSRGSWXERHXLI
PS[IV XLI HIKVII SJ GSRWXVYGXMSR EGGYVEG] XLI LMKLIV XLI
GSWXSJVIUYMVIHVITEMVW
74)'-*-'%8-32 '311)28%6=
'SRXVEGXHSGYQIRXVIJIVIRGIW
%'- WTIGMJMGEXMSR HSGYQIRXW{8LI JSPPS[MRK %QIVMGER
'SRGVIXI -RWXMXYXI WXERHEVHW TVSZMHI QERHEXSV] XSPIVERGI
VIUYMVIQIRXWJSVGSRGVIXIGSRWXVYGXMSRERHGERFIVIJIVIRGIH
MR'SRXVEGX(SGYQIRXW
1 7TIGMJMGEXMSR JSV 8SPIVERGIW JSV 'SRGVIXI
'SRWXVYGXMSRERH1EXIVMEPWERH'SQQIRXEV]
-8+1 7TIGMJMGEXMSR JSV 8SPIVERGIW JSV 4VIGEWX
'SRGVIXI
1 7TIGMJMGEXMSRWJSV7XVYGXYVEP'SRGVIXI
7XERHEVH 7TIGMJMGEXMSR JSV 'EWXMR4PEGI
%VGLMXIGXYVEP'SRGVIXI
7TIGMJMGEXMSRJSVXLI'SRWXVYGXMSRSJ(VMPPIH
4MIVW
%7')
817 7TIGMJMGEXMSR JSV 1EWSRV] 7XVYGXYVIW ERH
'SQQIRXEV]
7)'8-32{+)2)6%06)59-6)1)287
74)'-*-'%8-32 '311)28%6=
{7GSTI 6{7GSTI
% WIVMIW SJ TVIGSRWXVYGXMSR XSPIVERGI GSSVHMRE 6 4VIGSRWXVYGXMSR XSPIVERGI GSSVHMREXMSR QIIXMRKW
XMSRQIIXMRKWWLEPPFIWGLIHYPIHERHLIPHTVMSVXSXLI TVSZMHIERSTTSVXYRMX]JSVOI]TEVXMGMTERXWXSMHIRXMJ]ERHXS
GSQQIRGIQIRX SJ XLI ;SVO 8LI 'SRXVEGXSV VIWSPZIXSPIVERGIGSQTEXMFMPMX]MWWYIWTVMSVXSGSRWXVYGXMSR
WYFGSRXVEGXSVW QEXIVMEP WYTTPMIVW ERH SXLIV OI]
TEVXMIW WLEPP EXXIRH %PP TEVXMIW WLEPP FI KMZIR XLI
STTSVXYRMX] XS MHIRXMJ] ER] XSPIVERGI UYIWXMSRW ERH
GSRJPMGXWXLEXEVIETTPMGEFPIXSXLI[SVO[MXLQEXIVMEPW
TVIJEFVMGEXIHIPIQIRXWERH;SVOEWWIQFPIHMRWXEPPIH
MRXLIJMIPHF]XLI'SRXVEGXSV
{6IUYMVIQIRXW 6{6IUYMVIQIRXW
74)'-*-'%8-32 '311)28%6=
*MK6{9WISJQYPXMTPISJXSPIVERGIHMXIQWXS]MIPHXSPIVERGIHVIWYPX
8SPIVERGIWWLEPPRSXI\XIRHXLIWXVYGXYVIFI]SRH 6-JXLIETTPMGEXMSRSJXSPIVERGIWGEYWIWXLII\XIRWMSR
PIKEP FSYRHEVMIW 8SPIVERGIW EVI QIEWYVIH JVSQ XLI SJ XLI WXVYGXYVI FI]SRH PIKEP FSYRHEVMIW XLI %VGLMXIGX
TSMRXW PMRIW ERH WYVJEGIW HIJMRIH MR 'SRXVEGX (SGY )RKMRIIVWLSYPHFIRSXMJMIHXSMRMXMEXIGSRJPMGXVIWSPYXMSR
QIRXW-JETTPMGEXMSRSJXSPIVERGIWGEYWIWXLII\XIRWMSR
SJXLIWXVYGXYVIFI]SRHPIKEPFSYRHEVMIWXLIXSPIVERGI
QYWXFIVIHYGIH
)EGLXSPIVERGIWXERHWEPSRI[LIRIZEPYEXMRKXLIEGGITXEFMPMX]
SJGSRGVIXIGSRWXVYGXMSR6IJIVXS*MK6
74)'-*-'%8-32 '311)28%6=
-JXLIXSPIVERGIWMRXLMWHSGYQIRXEVII\GIIHIH 6*SVEGGITXERGIGVMXIVMEJSVWXVYGXYVEPGSRGVIXIVIJIV
JSVWXVYGXYVEPGSRGVIXIVIJIVXS'SRXEGX(SGYQIRXWJSV XS%'-17IGXMSR
EGGITXERGIGVMXIVME*SVSXLIV GSRGVIXIXLI%VGLMXIGX
)RKMRIIVQE]EGGITXXLIIPIQIRXMJMXQIIXWSRISJXLI
JSPPS[MRKGVMXIVME
F
8LIIPIQIRXSVXSXEPIVIGXIHEWWIQFP]GERFI
QSHMJMIH XS QIIX EPP WXVYGXYVEP ERH EVGLMXIG
XYVEPVIUYMVIQIRXW
{(IJMRMXMSRW 6{(IJMRMXMSRW
%VGLMXIGX)RKMRIIV{XLIEVGLMXIGXIRKMRIIVEVGLMXIG
XYVEP JMVQ SV IRKMRIIVMRK JMVQ MWWYMRK 'SRXVEGX (SGY
QIRXW SV EHQMRMWXIVMRK XLI ;SVO YRHIV 'SRXVEGX
(SGYQIRXWSVFSXL
FS[MRK{HIZMEXMSRSJXLIIHKISVWYVJEGISJETPEREV FS[MRK{VIJIVXS*MK6
IPIQIRX JVSQE PMRI TEWWMRK XLVSYKLER]X[S GSVRIVW
SJXLIIPIQIRX
FYRHPIHFEVIUYMZEPIRXEVIE{XSXEPEVIESJVIMRJSVGMRK
FEVWGSRXEMRIHMRXLIFYRHPI
GSRGVIXII\TSWIH{GSRGVIXIWYVJEGIWJSVQIHWSEW
XS]MIPHEREGGITXEFPIXI\XYVIERHJMRMWLJSVTIVQERIRX
I\TSWYVIXSZMI[
'SRXVEGXSV{XLITIVWSRJMVQSVIRXMX]YRHIVGSRXVEGX *MK6{%VVMW
JSVGSRWXVYGXMSRSJXLI;SVO
*MK6{&S[MRK
1 %'-78%2(%6('311)28%6=
74)'-*-'%8-32 '311)28%6=
GSZIV{XLI PIEWX HMWXERGI FIX[IIR XLI WYVJEGI SJ GSZIV{VIJIVXS*MK6
IQFIHHIH VIMRJSVGIQIRX ERH XLI WYVJEGI SJ XLI
GSRGVIXI
*MK6{'SZIV
*MK6{(IZMEXMSR
*MK6{(IZMEXMSRJVSQTPERI
830)6%2')7*36'32'6)8)'327869'8-32 1
74)'-*-'%8-32 '311)28%6=
HIZMEXMSRLSVM^SRXEP{HITEVXYVIJVSQERIWXEFPMWLIH HIZMEXMSRLSVM^SRXEP{VIJIVXS*MK6E
F
ERHG
TSMRXPMRISVWYVJEGIQIEWYVIHRSVQEPTIVTIRHMGYPEV
XSEZIVXMGEPPMRIXLVSYKLXLITSMRXSJMRXIVIWX
*MK6{,SVM^SRXEPHIZMEXMSR
*MK6{:IVXMGEPHIZMEXMSR
1 %'-78%2(%6('311)28%6=
74)'-*-'%8-32 '311)28%6=
:IVXMGEPHIZMEXMSRLSVM^SRXEPHIZMEXMSRERHHIZMEXMSRJVSQ
TPYQFEVIMRHMZMHYEPP]YWIHXSIWXEFPMWLEXSPIVERGIIRZIPSTI
JSVIEGLHIZMEXMSRX]TI[MXLMR[LMGLTIVQMWWMFPIZEVMEXMSRW
GER SGGYV (IZMEXMSR JVSQ TPERI MW YWIH XS HIXIVQMRI XLI
VEXISJGLERKISJEHNEGIRXTSMRXWWPSTIXSPIVERGI
SGGYVVMRK
[MXLMRXLIXSPIVERGIIRZIPSTI-RXLMWJEWLMSRXLIWPSTIERH
WQSSXLRIWWSJWYVJEGIWERHPMRIW[MXLMREXSPIVERGIIRZIPSTI
EVIGSRXVSPPIH%FVYTXGLERKIWWYGLEWSJJWIXWWE[XSSXLMRK
ERHWPSTMRKSJPMRIWERHWYVJEGIWTVSTIVP]PSGEXIH[MXLMRE
XSPIVERGI IRZIPSTI QE] FI SFNIGXMSREFPI JSV I\TSWIH
GSRGVIXI 8LI EGGITXEFPI VIPEXMZI EPMKRQIRX SJ TSMRXW SR E
WYVJEGI SV PMRI MW HIXIVQMRIH F] YWMRK E WPSTI XSPIVERGI
)JJIGXMZIYWISJEWPSTIXSPIVERGIVIUYMVIWXLEXXLIWTIGMJMG
HMWXERGI SZIV [LMGL XLI WPSTI MW XS FI QIEWYVIH MW IWXEF
PMWLIH ERH XLEX XLI QIEWYVIQIRX HIZMGI SRP] GSRXEGXW XLI
WYVJEGIEXXLMWWTIGMJMGHMWXERGI
JPEXRIWW{HIZMEXMSRSJEWYVJEGIJVSQETPERI JPEXRIWW{VIJIVXS*MK6
PIZIPRIWW{HIZMEXMSRSJEPMRISVWYVJEGIJVSQELSVM PIZIPRIWW{VIJIVXS*MK6
^SRXEPPMRISVWYVJEGI
*MK6{*PEXRIWWERHPIZIPRIWW
830)6%2')7*36'32'6)8)'327869'8-32 1
74)'-*-'%8-32 '311)28%6=
{6IJIVIRGIWXERHEVHW 6{-RJSVQEXMZIVIJIVIRGIW
'SRGVIXI6IMRJSVGMRK7XIIP-RWXMXYXI
174 1ERYEPSJ7XERHEVH4VEGXMGI
4VIGEWX4VIWXVIWWIH'SRGVIXI-RWXMXYXI
120 1ERYEP JSV 5YEPMX] 'SRXVSP JSV 4PERXW ERH
4VSHYGXMSR SJ 7XVYGXYVEP 4VIGEWX 'SRGVIXI
4VSHYGXW
120 8SPIVERGI 1ERYEP JSV 4VIGEWX ERH
4VIWXVIWWIH'SRGVIXI'SRWXVYGXMSR
2EXMSREP6IEH]1M\IH'SRGVIXI%WWSGMEXMSR
5YEPMX]'SRXVSP1ERYEP{7IGXMSR'IVXMJMGEXMSRSJ6IEH]
1M\IH'SRGVIXI4VSHYGXMSR*EGMPMXMIW'LIGOPMWX
:SPYQIXVMG1M\IV1ERYJEGXYVIVW&YVIEY
:11& :SPYQIXVMG 1M\IV 7XERHEVHW SJ XLI
:SPYQIXVMG1M\IV1ERYJEGXYVIVW&YVIEY
8LIWITYFPMGEXMSRWQE]FISFXEMRIHJVSQ
%QIVMGER'SRGVIXI-RWXMXYXI
'SYRXV]'PYF(VMZI
*EVQMRKXSR,MPPW1-
[[[GSRGVIXISVK
%QIVMGER-RWXMXYXISJ7XIIP'SRWXVYGXMSR
3RI)EWX;EGOIV(V7YMXI
'LMGEKS-0
[[[EMWGSVK
1 %'-78%2(%6('311)28%6=
74)'-*-'%8-32 '311)28%6=
%QIVMGER7SGMIX]SJ'SRGVIXI'SRXVEGXSVW
&VIRX[SSH&PZH
7X0SYMW13
[[[EWGGSRPMRISVK
%781-RXIVREXMSREP
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2SVXL4PYQ+VSZI6H
7GLEYQFYVK-0
[[[GVWMSVK
4VIGEWX4VIWXVIWWIH'SRGVIXI-RWXMXYXI
;%HEQW7X
'LMGEKS-0
[[[TGMSVK
2EXMSREP6IEH]1M\IH'SRGVIXI%WWSGMEXMSR
7TVMRK7XVIIX
7MPZIV7TVMRK1(
[[[RVQGESVK
:SPYQIXVMG1M\IV1ERYJEGXYVIVW&YVIEY
7TVMRK7XVIIX
7MPZIV7TVMRK1(
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830)6%2')7*36'32'6)8)'327869'8-32 1
7)'8-32{1%8)6-%07
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{6IMRJSVGMRKWXIIPJEFVMGEXMSRERH
EWWIQFP]
*SVFEVW2SXLVSYKLMRWM^IVIJIVXS*MKE
*SVFEVW2SERHMRWM^IVIJIVXS*MKF
74)'-*-'%8-32 '311)28%6=
74)'-*-'%8-32 '311)28%6=
74)'-*-'%8-32 '311)28%6=
*SVFEVW2SXLVSYKLMRWM^IYWIHMRIRHFIEVMRK
WTPMGIWVIJIVXS*MKG
*SVEPPIRHFIEVMRKWTPMGIEWWIQFPMIWVIJIVXS*MKH
74)'-*-'%8-32 '311)28%6=
{6IMRJSVGIQIRXPSGEXMSR 6{6IMRJSVGIQIRXPSGEXMSR
6IHYGXMSRMRGSZIVXSJSVQIHWSJJMXWWLEPPRSXI\GIIH
QQ
:IVXMGEPHIZMEXMSRJSVWPEFSRKVSYRHVIMRJSVGIQIRX
QQ
*MK6{4PEGIQIRX
1 %'-78%2(%6('311)28%6=
74)'-*-'%8-32 '311)28%6=
*MK6{'SZIV
*MK6{:IVXMGEPTPEGIQIRX
830)6%2')7*36'32'6)8)'327869'8-32 1
74)'-*-'%8-32 '311)28%6=
'PIEVERGI FIX[IIR VIMRJSVGIQIRX SV FIX[IIR 6ERH68LIWTEGMRKXSPIVERGISJVIMRJSVGIQIRX
VIMRJSVGIQIRXERHIQFIHQIRX GSRWMWXWSJERIRZIPSTI[MXLEREFWSPYXIPMQMXEXMSRSRSRI
3RIUYEVXIVWTIGMJMIHHMWXERGIRSXXSI\GIIH WMHISJXLIIRZIPSTIHIXIVQMRIHF]XLIPMQMXSRXLIVIHYGXMSR
QQ MRHMWXERGIFIX[IIRVIMRJSVGIQIRX-REHHMXMSRXLIEPPS[EFPI
XSPIVERGI SR WTEGMRK WLSYPH RSX GEYWI E VIHYGXMSR MR XLI
(MWXERGIFIX[IIRVIMRJSVGIQIRXWLEPPRSXFIPIWWXLER WTIGMJMIH RYQFIV SJ VIMRJSVGMRK FEVW YWIH (IWMKRIVW EVI
XLIKVIEXIVSJXLIFEVHMEQIXIVSVQQJSVYRFYRHPIH GEYXMSRIH XLEX WIPIGXMRK E FIEQ [MHXL XLEX I\EGXP] QIIXW
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7TIGMJ]GEXIKSV]SJHVMPPIHTMIV8LI7TIGMJMIVWLSYPHFIE[EVIXLEXXLIVIGSQQIRHIHZIVXMGEPEPMKRQIRXXSPIVERGISJ SJXLI
(VMPPIHTMIVW WLEJXPIRKXLMRHMGEXIHMR'EXIKSV]&HVMPPIHTMIVWMWFEWIHSRI\TIVMIRGIMRE[MHIZEVMIX]SJWSMPWMXYEXMSRWGSQFMRIH[MXLEPMQMXIH
EQSYRXSJXLISVIXMGEPEREP]WMWYWMRKXLIFIEQSRIPEWXMGJSYRHEXMSRXLISV]ERHQMRMQYQEWWYQIHLSVM^SRXEPWSMPVIWXVEMRX
7IGXMSR{'EWXMRTPEGIGSRGVIXIJSVFYMPHMRKW
(IWMKREXIGPEWWSJWYVJEGI%&'(
EPWSVIJIVXS%'-1ERH
'PEWW%*SVWYVJEGIWTVSQMRIRXP]I\TSWIHXSTYFPMGZMI[[LIVIETTIEVERGIMWSJWTIGMEPMQTSVXERGI
*SVQSJJWIXW 'PEWW&'SEVWIXI\XYVIHGSRGVIXIJSVQIHWYVJEGIWMRXIRHIHXSVIGIMZITPEWXIVWXYGGSSV[EMRWGSEXMRK
'PEWW'+IRIVEPWXERHEVHJSVTIVQERIRXP]I\TSWIHWYVJEGIW[LIVISXLIVJMRMWLIWEVIRSXWTIGMJMIHERH
'PEWW(1MRMQYQUYEPMX]WYVJEGI[LIVIVSYKLRIWWMWRSXSFNIGXMSREFPIYWYEPP]ETTPMIH[LIVIWYVJEGIW[MPPFIGSRGIEPIH
*PSSVJMRMWL (IWMKREXI 7IGXMSR ERH6IJIVXS8EFPI6
(IWMKREXIXLIWYVJEGIGPEWWMJMGEXMSRJSVEPPJPSSVW6IJIVXS8EFPIWERH
(IWMKREXI*PSSV7YVJEGI'PEWWMJMGEXMSR
(IWMKREXI*PSSV7YVJEGI'PEWWMJMGEXMSR
1 %'-78%2(%6('311)28%6=
348-32%06)59-6)1)287',)'/0-78
7IGXMSR4EVX%VXMGPI 2SXIWXSXLI7TIGMJMIV
7IGXMSR{+IRIVEPVIUYMVIQIRXW
7TIGMEPM^IHGSRGVIXIGSRWXVYGXMSRSVGSRWXVYGXMSRTVSGIHYVIWVIUYMVIXLI7TIGMJMIVXSMRGPYHIWTIGMEPM^IHXSPIVERGIW
7GSTI %'-GSQQMXXIIHSGYQIRXWGSZIVMRKWTIGMEPM^IHGSRWXVYGXMSRQE]TVSZMHIKYMHERGISRWTIGMEPM^IHXSPIVERGIW
7TIGMJ]XSPIVERGIWJSV%VGLMXIGXYVEP'SRGVIXI6IJIVXS%'-JSVKYMHERGI
7IGXMSR{1EXIVMEPW
'67-174%TTIRHM\'TVSZMHIWZEPYEFPIMRJSVQEXMSRGSRGIVRMRKHIZIPSTQIRXSJHIXEMPWJSVTPEGIQIRXSJ
VIMRJSVGIQIRX
8LIXSPIVERGIJSVVIHYGXMSRMRGSZIVMRVIMRJSVGMRKWXIIPQE]VIUYMVIEVIHYGXMSRMRQEKRMXYHI[LIVIXLIVIMRJSVGIH
'SRGVIXIGSZIV GSRGVIXIMWI\TSWIHXSGLPSVMHIWSVXLIIRZMVSRQIRX;LIVITSWWMFPII\GIWWGSZIVXSSXLIVTVSXIGXMSRSJXLIVIMRJSVGMRK
WXIIPWLSYPHFIWTIGMJMIHMRWXIEHSJVIHYGIHXSPIVERGIFIGEYWISJXLIEGGYVEG]SJPSGEXMRKVIMRJSVGMRKWXIIPYWMRK
WXERHEVHJEFVMGEXMSREGGIWWSVMIWERHMRWXEPPEXMSRTVSGIHYVIW
8LI7TIGMJMIVQE]IPIGXXSWTIGMJ]EPXIVREXIXSPIVERGIJSVLSVM^SRXEPHIZMEXMSRSJTVIWXVIWWMRKVIMRJSVGMRKSVTVIWXVIWWMRK
HYGXW
8SPIVERGIKMZIRMWJSVKIRIVEPETTPMGEXMSR7TIGMJMGHIWMKRYWISJIQFIHHIHMXIQWQE]VIUYMVIHXLI7TIGMJMIVXSHIWMK
)QFIHHIHMXIQW
REXIXSPIVERGIWSJVIHYGIHQEKRMXYHIJSVZEVMSYWIQFIHHIHMXIQW
7IGXMSR{*SYRHEXMSRW
ERH 8SPIVERGIWKMZIREVIJSVKIRIVEPETTPMGEXMSR6IJIVXS%'-JSVKYMHERGI
4PYWXSPIVERGIJSVXLIZIVXMGEPHMQIRWMSRMWRSXWTIGMJMIHFIGEYWIRSPMQMXMWMQTSWIH7TIGMJMIVWLSYPHHIWMKREXITPYW
XSPIVERGIMJHIWMVIH
7IGXMSR{'EWXMRTPEGIGSRGVIXIJSVFYMPHMRKW
'LSWITPYWXSPIVERGIJSVWPEFXLMGORIWW
7TIGMJMIVWEVIGEYXMSRIHXLEXEXMKLXIVXSPIVERGIWLSYPHFIWTIGMJMIH[LIVIXLIVIMWETSXIRXMEPJSVGYXXMRKVIMRJSVGIQIRX
'LSSWI;EZMRIWW-RHI\EWEPXIVREXMZIXSQIXLSHWWTIGMJMIHMR7IGXMSRSV8IWXMRKWLEPPFIMREGGSVHERGI[MXL
%781)17TIGMJMIH3ZIVEPP7YVJEGI;EZMRIWW-RHI\ERH1MRMQYQ0SGEP7YVJEGI;EZMRIWW-RHI\QYWXFIWTIGMJMIH
(IWMKREXIXIWXMRKEKIRG]
(IWMKREXIHMWXVMFYXMSRSJXIWXVITSVXW
'LSSWIGSQTYXIVM^IHWMQYPEXMSRSJQERYEPWXVEMKLXIHKI
7TIGMJ]QMRMQYQRYQFIVSJWEQTPIWXIWXTVSGIHYVIQYWXFIVITVSHYGMFPI
ERHEGGITXERGIGVMXIVME