Fbgbkl_jkl\h ljZgkihjlZJhkkbb
>Zevg_\hklhqgZy]hkm^Zjkl\_ggZyfhjkdZyZdZ^_fby bf_gbZ^fbjZeZ=BG_\_evkdh]h
Zevg_\...
57 downloads
267 Views
2MB Size
Report
This content was uploaded by our users and we assume good faith they have the permission to share this book. If you own the copyright to this book and it is wrongfully on our website, we offer a simple DMCA procedure to remove your content from our site. Start by pressing the button below!
Report copyright / DMCA form
Fbgbkl_jkl\h ljZgkihjlZJhkkbb
>Zevg_\hklhqgZy]hkm^Zjkl\_ggZyfhjkdZyZdZ^_fby bf_gbZ^fbjZeZ=BG_\_evkdh]h
<FEh[Zklh\
MijZ\e_gb_ jZ[hlhcWDK©0DSWHFK3URIIHVLRQDOª Mq_[gh_ihkh[b_
J_dhf_g^h\Zghf_lh^bq_kdbfkh\_lhf >Zevg_\hklhqghc]hkm^Zjkl\_gghcfhjkdhcZdZ^_fbb \ dZq_kl\_mq_[gh]hihkh[by^eyki_pbZevghklb ©Km^h\h`^_gb_gZfhjkdboimlyoª
<eZ^b\hklhd
M>D
Eh[Zklh\ <F MijZ\e_gb_ jZ[hlhc WDK ©0DSWHFK 3URIIHVLRQDO ª Mq_[ihkh[b_±<eZ^b\hklhd><=F:±k JZkkfZljb\Zxlky hkgh\gu_ nmgdpbb rbjhdh jZkijhkljZg_gghc jZkljh \hcwe_dljhgghcdZjlh]jZnbq_kdhckbkl_fu©0DSWHFK3URIIHVLRQDOª nbj fu5HVROXWLRQ0DSSLQJ,QFBaeh`_gb_beexkljbjm_lkyjbkmgdZfbb wdjZg gufbdhibyfbbgl_jn_ckZihevah\Zl_ey Mq_[gh_ ihkh[b_ ij_^gZagZq_gh ^ey dmjkZglh\ klZjrbo dmjkh\ km^h\h ^bl_evkdhc ki_pbZevghklb b rlmjfZgkdh]h khklZ\Z km^h\ fhjkdh]h nehlZ ijhoh^ysbo dhg\_gpbhggmx lj_gZ`_jgmx ih^]hlh\dm ih ^bkpbiebg_ ©We_dljhggZydZjlh]jZnbyª
J_p_ga_glu
Eh[Zklh\<F >Zevg_\hklhqgZy]hkm^Zjkl\_ggZy fhjkdZyZdZ^_fby bfZ^f=BG_\_evkdh]h
&217(176
&RQWHQWV
6RIWZDUH'HVFULSWLRQ BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB *HWWLQJ6WDUWHG BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB 0HQXVDQG3URFHGXUHV BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB )LOH BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB 9LHZ BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
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
4XLFN$FFHVV7RRO%DU BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB 6WDWXV%DUBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
&RS\ULJKW ><=F:
Eh[Zklh\<F
6RIWZDUH'HVFULSWLRQ
6RIWZDUH'HVFULSWLRQ
0DSWHFK 3URIHVVLRQDO LV D QDYLJDWLRQDO VRIWZDUH SURGXFW WKDW PD\ EH LQWHU IDFHGZLWKD*36FDSDEOHRIWUDQVPLWWLQJVWDQGDUG10($RXWSXW&RQQHFW LQJD*36ZLWK0DSWHFK3URIHVVLRQDODOORZV\RXWRGLVSOD\\RXUYHVVHOSRVLWLRQRQ DQ\VFDOH0DSWHFKFKDUWWKDWFRQWDLQV\RXUSUHVHQWORFDWLRQ6HH)LJXUH 9LHZ DQGDQQRWDWH 0DSWHFK QDXWLFDO FKDUWV IRU YLUWXDOO\ DQ\ ZDWHUV LQ WKHZRUOG ZKLOH \RXSODQURXWHVRUWUDFN\RXUYHVVHOSRVLWLRQ
)LJXUH7KH0DSWHFK3URIHVVLRQDO8VHUccV,QWHUIDFH
± ± ± ± ± ± ± ± ± ± ± ± ±
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
&RS\ULJKW ><=F:
Eh[Zklh\<F
6RIWZDUH'HVFULSWLRQ
± 2SHQWKH9LHZ,2ZLQGRZWRYLHZGHYLFHGDWDVWULQJVDVWKH\DUHWUDQVPLWWHG WRDQGIURP0DSWHFK3URIHVVLRQDO ± 2EVHUYH WKH IORDWLQJ 1DYLJDWLRQ 5HFHLYHU 6WDWXV ZLQGRZ RQ WKH GLVSOD\ HYHQ ZKHQZRUNLQJLQDQRWKHUDSSOLFDWLRQ ± 2SHUDWHWKHSURJUDPLQ6LPXODWLRQPRGHZKHQSUDFWLFLQJRUSODQQLQJURXWHV ± &XVWRPL]HKRZWKHGLVSOD\ORRNV ± &KRRVHDVFDOHDEOHIL[HGRUFURVVKDLUVYHVVHOV\PERO ± &KRRVH IURP WKUHH GLIIHUHQW &KDUW9HVVHO V\QFKURQL]DWLRQ PRGHV DQG PRQLWRU \RXUFXUUHQWYHVVHOSRVLWLRQIURPDSUHGLFDEOHORFDWLRQRQWKHGLVSOD\ ± &UHDWHDFXVWRPL]HG1DPHG:D\SRLQWVOLVW ± 0DQ2YHUERDUGIXQFWLRQDOLW\ZLWKDXWRPDWLFUHFRYHU\GDWD ± 6HW0DUNV(YHQW0DUNV$ODUPV$%/LQHV5DQJH%HDULQJ/LQHV:D\SRLQW $ODUPVDQG5HFRUGHGDQG1DPHG7UDFNV ± &UHDWH/RFDO1RWLFHV7R0DULQHUV ± $XWRORJJLQJDQG$XWRSULQWLQJFDSDELOLW\IRUWKH6KLS/RJ ± &KDQJH&KDUW &'VDQG UHEXLOGWKH&KDUW /LVWZLWK DQHZ VHWRI FKDUWVGXULQJ SURJUDPRSHUDWLRQ ± 2SHQ WKH 5RXWH ,QIR GLDORJ WR FDOFXODWH HVWLPDWHG WLPHV RI DUULYDO DW WDUJHW ZD\SRLQWV ± ,PSRUW5RXWHV0DUNV7UDFNVDQG1DPHG:D\SRLQWV IURPDWH[WILOH,PSRUW 0DUNVDQG5RXWHVIURPWKH0DSWHFKIRU'26SURJUDP ± ([SRUW 5RXWHV 0DUNV 7UDFNV DQG 1DPHG :D\SRLQWV \RX FUHDWHG LQ 3URIHV VLRQDOWRDWH[WILOHDQGWKHQXVHWKHPLQRWKHUDSSOLFDWLRQV ±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
Eh[Zklh\<F
*HWWLQJ6WDUWHG
*HWWLQJ6WDUWHG *366HWXS
7RUHFHLYHDQGGLVSOD\\RXU*36YHVVHOSRVLWLRQ\RXPXVWLQWHUIDFH\RXU*36 ZLWK3URIHVVLRQDODQG\RXU FRPSXWHUV\VWHP&DUHIXOO\ IROORZWKHLQVWUXFWLRQVLQ 1DYLJDWLRQ5HFHLYHU,QVWDOODWLRQ IRULQVWDOOLQJWKH*36LQWHUIDFHFDEOH 2QFH \RXU *36 LV FRQQHFWHG DQG 3URIHVVLRQDO LV UXQQLQJ RSHQ WKH 9HVVHO PHQX DQG VHOHFW 6HWXS 1DYLJDWLRQ 5HFHLYHU 6HOHFW \RXU &RPPXQLFDWLRQ 6HW WLQJV DQGWKH7UDQVODWH/LVW \RXU*36ZLOORXWSXWWR3URIHVVLRQDO
$XWRSLORW6HWXS
3URIHVVLRQDO KDV $XWRSLORW FDSDELOLWLHV IRU WKRVH ZKR ZDQW WR LQWHUIDFH DQ $XWRSLORWZLWKWKHSURJUDP7KHVHWXSLVYHU\VLPLODUWRWKH*36VHWXSH[FHSWQRZ \RX FKRRVH WKH 10($ *HQHUDWH /LVW WKDW 3URIHVVLRQDO ZLOO RXWSXW WR \RXU $XWRSLORW&DUHIXOO\IROORZWKHLQVWUXFWLRQVLQ6HWXS$XWRSLORW IRUFRPSOHWHFRQ QHFWLRQGHWDLOV
,QVWDOO\RXU0DSWHFK&KDUWV
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
9LHZD&KDUW
$IWHU\RXU&KDUWVDUHLQVWDOOHGRSHQWKH&KDUWV PHQXDQGVHOHFW&KDUW/LVW 7KH&KDUW/LVW GLDORJGLVSOD\V&OLFNRQD&KDUWLQWKHOLVWER[DQGWKHQFOLFN6H OHFW DWWKHERWWRPRIWKH&KDUW/LVW GLDORJ2UGRXEOHFOLFNRQD&KDUWLQWKHOLVW ER[WRVHOHFWDQGGLVSOD\WKH&KDUWLQWKHDFWLYH&KDUWZLQGRZ
0RYHDURXQGRQD&KDUW
8VH\RXUPRXVHWRTXLFNO\SDQDGLVSOD\HG&KDUW'RXEOHFOLFNWKHPRXVHRQ D UDQGRP ORFDWLRQ WR FHQWHU WKH &KDUW YLHZ RQ WKDW ORFDWLRQ &RQWLQXH GRXEOH FOLFNLQJRQORFDWLRQVFORVHWRWKHHGJHRIWKH&KDUWZLQGRZWRTXLFNO\SDQDFURVVD &KDUW<=F:
Eh[Zklh\<F
*HWWLQJ6WDUWHG
&KRRVHD9HVVHO6\PERODQG&RORU
2SHQ WKH 9HVVHO PHQX DQG VHOHFW 6HWXS 9HVVHO 8QGHU WKH 9HVVHO 6\PERO VHFWLRQFOLFNWKHGRZQDUURZWRGLVSOD\DGURSOLVWRIYHVVHOJUDSKLFRSWLRQV&OLFN RQDQRSWLRQWRHQWHULWLQWKH9HVVHO6\PEROER[8QGHUWKH9HVVHO&RORUVHFWLRQ FOLFNWKHGRZQDUURZWRGLVSOD\DGURSOLVWRIFRORUVIRUWKH9HVVHO6\PERO&OLFN RQDFRORUWRHQWHULWLQWKH9HVVHO&RORUER[&OLFN2. WRVDYH\RXU HQWULHVDQG FORVHWKH6HWXS9HVVHOGLDORJ
9LHZ\RXU*36YHVVHOSRVLWLRQRQDFKDUW
$IWHU \RXU *36 LV FRQQHFWHG DQG WKH SURJUDP LV UXQQLQJ JR WR WKH &KDUWV PHQXDQGVHOHFW&KDUW/LVW6HOHFWDFKDUWIRUWKHZDWHUVZKHUH\RXDUHSUHVHQWO\ ORFDWHG2SHQWKH9HVVHO PHQXDQGVHOHFW6HW1DYLJDWLRQ0RGH6HOHFWWKH1DYL JDWLRQRSWLRQDQGWKHQ2. WRGLVSOD\\RXUSRVLWLRQRQWKHFKDUW
2SHQD1HZ&KDUWZLQGRZ
2SHQ WKH :LQGRZ PHQX DQG VHOHFW 3ODQ &KDUW :LQGRZ 7KH GLVSOD\ DUHD UHWLOHV WR GLVSOD\ ERWK WKH 1DYLJDWLRQ DQG 3ODQ &KDUW ZLQGRZV 7KH 3ODQ &KDUW ZLQGRZGXSOLFDWHVWKHFRQWHQWVRIZKDW\RXFXUUHQWO\VHHLQWKH1DY&KDUW ZLQ GRZ7RPDNH3ODQ&KDUWZLQGRZWKHDFWLYHZLQGRZFOLFNDQ\ZKHUHLQWKHZLQ GRZ0RYHDURXQGWKHFKDUWWKHVDPHZD\DVGHVFULEHGDERYH7RFKDQJH&KDUWVLQ 3ODQ&KDUWZLQGRZPDNH3ODQ&KDUWZLQGRZWKHDFWLYHZLQGRZ2SHQWKH&KDUWV PHQXDQGVHOHFW&KDUW/LVW6HOHFWDGLIIHUHQW&KDUW
&UHDWHD5RXWH
2SHQWKH&KDUW/LVWDQGVHOHFWWKH&KDUW\RXZDQWWRXVHWRFUHDWHDURXWH,W GLVSOD\VLQWKHDFWLYH&KDUWZLQGRZ2SHQWKH5RXWHV PHQXDQGVHOHFW1HZ1DY 5RXWH7KH1HZ5RXWHGLDORJGLVSOD\V(QWHUDQDPHIRUWKHURXWHRUXVHWKHGH IDXOWGLVSOD\HGLQWKH5RXWH7LWOHER[
&RS\ULJKW ><=F:
Eh[Zklh\<F
0HQXVDQG3URFHGXUHV
0HQXVDQG3URFHGXUHV )LOH
7KH)LOH PHQX FRQWDLQVFRPPDQGVWKDWRSHUDWHRQWKH0DSWHFK3URIHVVLRQDO ZLQGRZZKLFKLVWKHPDLQZLQGRZRIWKHSURJUDP6HH)LJXUH
,PSRUW'DWD«
)LJXUH7KH)LOHPHQX
,PSRUW 5RXWHV 1DPHG :D\SRLQWV 0DUNV $ODUPV DQG 7UDFNV IURP D WH[W ILOH,PSRUW5RXWHV0DUNVDQG$ODUPVIURP0DSWHFKIRU'26,PSRUW5RXWH GDWDIURPD1RUWKVWDU*36
([SRUW'DWD«
([SRUW5RXWHV1DPHG:D\SRLQWV0DUNV$ODUPVDQG7UDFNVFUHDWHGLQ3UR IHVVLRQDOWRDWH[WILOH([SRUW5RXWHGDWDWRD1RUWKVWDU*36
3ULQW&KDUW'LVSOD\&WUO3
,QVWDQWO\SULQWWKHFRQWHQWVRIWKHDFWLYH&KDUWZLQGRZSOXVDQ\YLVLEOHRYHU OD\VLQFOXGLQJWKH9HVVHO0DUNV$ODUPV5RXWHV1DPHG:D\SRLQWV1RWLFHV7R 0DULQHUVDQG7UDFNV
3ULQW6HWXS«
6HOHFW\RXU3ULQW6HWXSRSWLRQVIRUFRORURUEODFNDQGZKLWHSULQWLQJ
([LW
([LWWKH0DSWHFK3URIHVVLRQDOSURJUDPDQGUHWXUQWR:LQGRZV
9LHZ
7KH9LHZ PHQXLVGHVLJQHGIRUFKDQJLQJWKHYLHZRUGLVSOD\ RIDFWLYHFKDUW LQ 1DYLJDWLRQ &KDUW RU 3ORW YLQGRZV 7KH 9LHZ PHQX FRQWDLQV FRPPDQGV WKDW &RS\ULJKW ><=F:
Eh[Zklh\<F
0HQXVDQG3URFHGXUHV
DOORZ\RXWRFRQWUROKRZYDULRXV3URIHVVLRQDOFRPSRQHQWVGLVSOD\LQWKHSURJUDP 6HH)LJXUH
6FDOH,Q
)LJXUH7KH9LHZPHQX
&OLFN RQ D FKDUW ORFDWLRQ DQG WKHQ VHOHFW 6FDOH ,Q WR GLVSOD\ WKH QH[W ODUJHU VFDOHG FKDUW DYDLODEOH FHQWHUHG RQ WKDW ORFDWLRQ $FFHVV 6FDOH ,Q IURP WKH 9LHZ PHQXWKH6WDWXV%DURUE\VLQJOHFOLFNLQJWKHULJKWPRXVHEXWWRQRQDFKDUWORFD WLRQ
6FDOH2XW
&OLFNRQDFKDUWORFDWLRQDQGWKHQVHOHFW6FDOH2XWWRGLVSOD\WKHQH[WVPDOOHU VFDOHGFKDUWDYDLODEOHFHQWHUHGRQWKDWORFDWLRQ$FFHVV6FDOH2XWIURPWKH9LHZ PHQXWKH6WDWXV%DURUE\GRXEOHFOLFNLQJWKHULJKWPRXVHEXWWRQRQDFKDUWORFD WLRQ
0D[6FDOH
&OLFN RQ D FKDUW ORFDWLRQ DQG WKH VHOHFW 0D[ 6FDOH WR GLVSOD\ WKH PD[LPXP VFDOHG FKDUW DYDLODEOH IRU WKH VHOHFWHG /DW/RQ ORFDWLRQ $FFHVV 0D[ 6FDOH IURP WKH9LHZPHQXRUFOLFNWKH0D[6FDOHEXWWRQRQWKH4XLFN$FFHVV7RRO%DU
*R7R/RFDWLRQ«
6HOHFW *R 7R /RFDWLRQ WR GLVSOD\ WKH *R 7R /RFDWLRQ GLDORJ ,Q WKH GLDORJ W\SH LQ D /DW/RQ ORFDWLRQ LQ RUGHU WR ILQG DQG FHQWHU WKH /DW/RQ LQ WKH DFWLYH &KDUWZLQGRZ
6HWXS'LVSOD\«
6HOHFW6HWXS'LVSOD\WRRSHQWKH6HWXS'LVSOD\GLDORJ$FFHVV6HWXS'LVSOD\ WRFXVWRPL]HKRZ\RXUSURJUDPFRPSRQHQWVDUHGLVSOD\HG6HOHFWRSWLRQVIRUVHW &RS\ULJKW ><=F:
Eh[Zklh\<F
0HQXVDQG3URFHGXUHV
WLQJWKH'HIDXOW8QLWVIRUGLVWDQFH'LUHFWLRQ6FUHHQ&RORUV9HVVHO3RVLWLRQ/R FDWLRQ)RUPDW &XUVRU 7\SH DQG'LJLW 3UHFLVLRQ (QDEOH DQG GLVDEOH WKH 'LVSOD\ 2Q &KDUW WKH ,' 'LVSOD\ DQG WKH $XWR 6FDOH,Q IHDWXUHV 2SHQ 6HWXS 'LVSOD\ IURPWKH9LHZPHQXRUIURPWKH4XLFN$FFHVV7RRO%DU
9LUWXDO.H\ERDUG
(QDEOH DQGGLVDEOH WKHRQVFUHHQ9LUWXDO .H\ERDUG9.% 8VH WKH9.% LQ SODFHRIW\SLQJRQDSK\VLFDONH\ERDUGZKHQ \RXHQWHU LQIRUPDWLRQLQWRWKHSUR JUDP
1DY5RXWH
6HOHFW1DY5RXWHWRFHQWHUWKH1DYLJDWLRQ&KDUWZLQGRZRQWKHFXUUHQWO\GLV SOD\HG1DYLJDWLRQURXWH
3ODQ5RXWH
6HOHFW3ODQ5RXWHWRFHQWHUWKH3ODQ&KDUWZLQGRZRQWKHFXUUHQWO\GLVSOD\HG 3ODQQLQJURXWH
+LGH'LVSOD\WKH7RRO%DUDQGRUWKH6WDWXV%DU
+LGHWKH7RRO%DUDQGRUWKH6WDWXV%DULQRUGHUWRYLHZPRUHFKDUWDUHDRQ \RXUGHVNWRS
9HVVHO
7KH9HVVHOPHQX FRQWDLQVFRPPDQGVWKDWDSSO\VSHFLILFDOO\WRWKHRSHUDWLRQ DQGGLVSOD\RI\RXUYHVVHOLQ3URIHVVLRQDO6HH)LJXUH
/RFDWH9HVVHO
)LJXUH 7KH9HVVHOPHQX
6HOHFW/RFDWH9HVVHOWRUHWXUQWKHIRFXVRIWKHDFWLYHZLQGRZWR\RXUFXUUHQW YHVVHO SRVLWLRQ DQG WR UHVHW WKH FKDUWYHVVHO V\QFKURQL]DWLRQ 5HVHWWLQJ WKH &RS\ULJKW ><=F:
Eh[Zklh\<F
0HQXVDQG3URFHGXUHV
FKDUWYHVVHOV\QFKURQL]DWLRQNHHSV\RXUYHVVHOSRVLWLRQLQYLHZDWDOOWLPHVRQWKH GLVSOD\GXULQJUHDORUVLPXODWHGQDYLJDWLRQ
6HW 3RVLWLRQ«
6HOHFW 6HW 3RVLWLRQ WR DGMXVW WKH YHVVHO SRVLWLRQ EHIRUH RU GXULQJ VLPXODWHG QDYLJDWLRQ
6HW1DYLJDWLRQ0RGH«
6HW WKH 1DYLJDWLRQ 0RGH IRU WKH YHVVHO LQ RUGHU WR GHWHUPLQH \RXU SRVLWLRQ IURPD*36RUIURPWKH3URIHVVLRQDO6LPXODWRU
6HWXS9HVVHO«
6HOHFW6HWXS9HVVHOWRGLVSOD\WKH6HWXS9HVVHOGLDORJ6HOHFWRUFKDQJHGDWD VSHFLILF WR WKH YHVVHO DQG KRZ LW LV GLVSOD\HG LQ 3URIHVVLRQDO &KRRVH D &2* RU +HDGLQJGLUHFWLRQIRUWKHYHVVHO
6HWXS6LPXODWRU«
6HOHFW6HWXS6LPXODWRUWRGLVSOD\WKH6HWXS6LPXODWRUGLDORJ(QWHURUFKDQJH RSWLRQVIRUVLPXODWHGYHVVHOVSHHGKHDGLQJVHWDQGGULIW
9LHZ,2
6HOHFW9LHZ,2WRGLVSOD\WKH'DWDIHHG3URJUDPZLQGRZ0D[LPL]HWKH'D WDIHHG3URJUDPZLQGRZWRYLHZWKH10($GDWDVWULQJVWKDWDUHSDVVHGIURP WKH QDYLJDWLRQUHFHLYHULQWRWKHSURJUDP
6HWXS$XWRSLORW«
6HOHFW 6HWXS $XWRSLORW WR LQWHUIDFH DQ $XWRSLORW GHYLFH ZLWK 3URIHVVLRQDO &KRRVHWKH&RPPXQLFDWLRQ6HWWLQJVDQG*HQHUDWH/LVW
6HWXS1DYLJDWLRQ5HFHLYHU«
6HOHFW6HWXS1DYLJDWLRQ5HFHLYHUWRLQWHUIDFHDQDYLJDWLRQUHFHLYHUZLWK3UR IHVVLRQDODQGWRFKRRVHWKH&RPPXQLFDWLRQ6HWWLQJVDQG7UDQVODWH/LVW
6HWXS2WKHU'DWDIHHGV«
6HOHFW6HWXS2WKHU'DWDIHHGVWRLQWHUIDFHDGGLWLRQDOGHYLFHVVXFKDVZLQGLQ VWUXPHQWVRUGHSWKILQGHUVZLWK3URIHVVLRQDO&KRRVHWKH&RPPXQLFDWLRQ6HWWLQJV DQG7UDQVODWH/LVWIRUHDFKDGGLWLRQDOGHYLFH
8VH$XWRSLORW
6HOHFW 8VH $XWRSLORW WR HQDEOH XVLQJ DQ $XWRSLORW WKDW KDV EHHQ LQWHUIDFHG ZLWK3URIHVVLRQDO &RS\ULJKW ><=F:
Eh[Zklh\<F
0HQXVDQG3URFHGXUHV
&KDUWV
7KH&KDUWVPHQX FRQWDLQVFRPPDQGVUHODWHGWRWKHGLVSOD\DQGRUJDQL]DWLRQ RI \RXU HOHFWURQLF FKDUWV DQG WKH FKDUW GLUHFWRULHV ZKHUH \RXU FKDUWV DUH VWRUHG 6HH)LJXUH 3URIHVVLRQDOUHDGVWZRNLQGVRIFKDUWIRUPDWV3&;50/
&KDUW/LVW«
)LJXUH 7KH&KDUWVPHQX
6HOHFWFKDUWV IURPWKH&KDUW /LVWIRUSODQQLQJRUYLHZLQJ6HOHFWDFKDUWDQG GLVSOD\LWLQWKHDFWLYH&KDUWZLQGRZ6RUWRUSULQWWKH&KDUW/LVW6HOHFWWKH,QIR RSWLRQ WR GLVSOD\ WKH OHJHQG IRU D VHOHFWHG FKDUW $FFHVV WKH &KDUW /LVW IURP WKH &KDUWVPHQXRUFOLFNWKH&KDUW/LVWEXWWRQRQWKH4XLFN$FFHVV7RRO%DU
,QIR«
6HOHFW ,QIR WR GLVSOD\ WKH &KDUW ,QIRUPDWLRQ ER[ IRU WKH FXUUHQWO\ GLVSOD\HG FKDUW7KH&KDUW,QIRUPDWLRQER[FRQWDLQVWKHOHJHQGIRUWKHGLVSOD\HGFKDUW
&KDQJH&'«
6HOHFW&KDQJH&'WRFKDQJHFKDUW&'520VGXULQJSURJUDPRSHUDWLRQ7KH &KDUW/LVWUHEXLOGVZLWKWKHQHZVHWRIFKDUWV
6HWXS&KDUWV«
&KRRVH6HWXS&KDUWVWRHGLWWKHOLVWRIFKDUWGLUHFWRULHV$FKDUWGLUHFWRU\LVD ORFDWLRQRQ\RXU V\VWHPZKHUHFKDUWVDUHLQVWDOOHG
'HOHWH=RRPV«
'HOHWH=RRPVFUHDWHGIRUDFKDUW
1RWLFHV«
6HOHFW1RWLFHVWRFUHDWHYLHZRUGHOHWHFKDUWVSHFLILF/RFDO1RWLFHV7R0DUL QHUV &RS\ULJKW ><=F:
Eh[Zklh\<F
0HQXVDQG3URFHGXUHV
1DY
7KH 1DYLJDWLRQ 1DY PHQX FRQWDLQV FRPPDQGV IRU FUHDWLQJ DQG GLVSOD\LQJ DLGVWRQDYLJDWLRQRQ\RXUFKDUWV6HH)LJXUH
0DUNV«
6HOHFW 0DUNV WR GLVSOD\ WKH 0DUNV GLDORJ &UHDWH DQG GLVSOD\ DQ XQOLPLWHG QXPEHURI0DUNVIRUQRWLQJSRLQWVRILQWHUHVWVKD]DUGVVKDOORZZDWHUVVKLSSLQJ ODQHVRUIDYRULWHILVKLQJKDXQWV
(YHQW0DUNV«
)LJXUH 7KH1DYPHQX
,QVWDQWO\SODFHDQ(YHQW0DUNDW\RXUFXUUHQWYHVVHOORFDWLRQ$Q(YHQW0DUN LQFOXGHVWKHWLPHDQGGDWHZKHQLWLVFUHDWHG
$ODUPV«
$GGDQGGHOHWHFLUFXODUDQFKRUDQGVLGHG$ODUPV$FWLYDWHWKHDODUPUDGLXV WRDOHUWWKHFUHZZKHQWKHYHVVHOHQWHUVRUOHDYHVDQDFWLYHDODUPDUHD8VHWKH*R 7RRSWLRQWRILQGDQDODUPORFDWLRQDQGFHQWHULWLQWKHDFWLYHFKDUWZLQGRZ3ULQW WKHHQWLUH$ODUPVOLVW
$%/LQHV«
6HOHFW$% /LQHV WR GLVSOD\ WKH $ 7R % /LQHV GLDORJ &UHDWH DQG XVH XS WR WKUHH$WR%/LQHVWRGHWHUPLQH WKH GLVWDQFH DQG EHDULQJ EHWZHHQ DQ\ WZRORFD WLRQVRQDFKDUW
5QJ%UJ/LQHV«
6HOHFW 5DQJH %HDULQJ /LQHV WR GLVSOD\ WKH 5DQJH %HDULQJ /LQHV GLDORJ $ 5DQJH%HDULQJ/LQHV5%/ PHDVXUHVWKHGLVWDQFHDQGEHDULQJEHWZHHQWKHYHVVHO DQGDVSHFLILHGFKDUWORFDWLRQ7KHEHDULQJLV7UXHRU0DJQHWLFGHSHQGLQJRQWKH 9HVVHO'LUHFWLRQVHWWLQJVHOHFWHGLQ6HWXS'LVSOD\ &RS\ULJKW ><=F:
Eh[Zklh\<F
0HQXVDQG3URFHGXUHV
7UDFNV«
5HFRUGDQGVWRUHXSWRYHVVHO7UDFNV$FFHVVWKH6HWXS7UDFNVZLQGRZ WRFKRRVHKRZWRUHFRUGWUDFNVE\WLPHRUGLVWDQFH &KRRVHWKHIUHTXHQF\RIWUDFN V\PEROVGLVSOD\HGRQWKHFKDUW6HOHFWDWUDFNV\PERODQGFRORU6HOHFWWKH7UDFN /LVWRSWLRQWRYLHZDQGGHOHWHUHFRUGHGWUDFNGDWD
1DPHG7UDFNV«
$FFHVVWKH1DPHG7UDFNVGLDORJWRQDPHDVHOHFWHGUDQJHRIUHFRUGHG7UDFNV 6HOHFW D GLIIHUHQW 7UDFN V\PERO DQG FRORU IRU D QDPHG 7UDFN UDQJH DQG GLVSOD\ WKHPRQ\RXUFKDUWZKHQWKH1DPHG7UDFNRSWLRQLVVHOHFWHGXQGHUWKH'LVSOD\2Q &KDUWVHFWLRQRI6HWXS'LVSOD\
5RXWHV
$FFHVVWKH 5RXWHV PHQXWRFUHDWHDQGSODQURXWHVLQWKH1DYLJDWLRQ3ODQDQG 3ORWZLQGRZVWRFUHDWHDFXVWRP OLVWRI 1DPHG :D\SRLQWV DQGWR VHW :D\SRLQW $ODUPV 6HH )LJXUH 7KH IROORZLQJ LV D EULHI GHVFULSWLRQ RI HDFK PHQX FRPPDQG 7KH4XLFN$FFHVV7RRO%DUEXWWRQVIRUWKH5RXWHV PHQX
'LUHFW7R«
)LJXUH 7KH5RXWHV PHQX
&UHDWHD'LUHFW7R ZD\SRLQWURXWH DQGLPPHGLDWHO\ XVHLW DV WKH QDYLJDWLRQ URXWH$'LUHFW7RURXWHFRQWDLQVRQO\WZRZD\SRLQWV7KHVWDUWZD\SRLQWLVDOZD\V WKHYHVVHO VFXUUHQWORFDWLRQ &RS\ULJKW ><=F:
Eh[Zklh\<F
0HQXVDQG3URFHGXUHV
6HOHFW6WRUHG5RXWHIRU1DYLJDWLRQ«
&KRRVH 6HOHFW 6WRUHG 5RXWH IRU 1DYLJDWLRQ WR GLVSOD\ WKH 6HOHFW 6WRUHG 5RXWHIRU1DYLJDWLRQGLDORJ$FFHVVWKH6HOHFW6WRUHG5RXWHIRU1DYLJDWLRQGLDORJ WRVHOHFWD VWRUHG URXWH DV WKH 1DYLJDWLRQ 5RXWH DQG GLVSOD\ LW LQ WKH 1DYLJDWLRQ &KDUWZLQGRZ(GLWWKH1DYLJDWLRQ5RXWHXVLQJWKH(GLW5RXWH:D\SRLQW/LVW &RS\ 5W 5HYHUVH 5RWDWH 0RYH ,QIR /LVW 1DPH 1RWH DQG 'HOHWH RSWLRQV &KRRVH3ULQW WRSULQWWKHHQWLUHOLVWRIURXWHV
6HOHFW6WRUHG5RXWHIRU3ODQQLQJ«
&KRRVH 6HOHFW 6WRUHG 5RXWH IRU 3ODQQLQJ WR GLVSOD\ WKH 6HOHFW 6WRUHG 5RXWH IRU3ODQQLQJGLDORJ$FFHVVWKH6HOHFW6WRUHG5RXWHIRU3ODQQLQJGLDORJWRVHOHFWD VWRUHGURXWHDVWKH3ODQQLQJ5RXWHDQGGLVSOD\LWLQD&KDUWZLQGRZ(GLWD3ODQ QLQJ 5RXWH ZLWK WKH (GLW 5RXWH :D\SRLQW /LVW &RS\ 5W 5HYHUVH 5RWDWH 0RYH,QIR /LVW1DPH1RWHDQG'HOHWH RSWLRQV&KRRVH3ULQWWR3ULQW WKHHQWLUH OLVWRIURXWHV
(GLW&XUUHQW1DYLJDWLRQ5RXWH«
6HOHFW(GLW&XUUHQW1DYLJDWLRQ5RXWH WRGLVSOD\WKH(GLW1DYLJDWLRQ5RXWH GLDORJ DQG WR PDNH FKDQJHV WR WKH URXWH FXUUHQWO\ GLVSOD\HG LQ WKH 1DYLJDWLRQ &KDUWZLQGRZ8VHWKH$GG0RYH*R7R'HOHWH8QGRDQG,QIR RSWLRQVWRHGLW WKHGLVSOD\HGURXWH
&XUUHQW1DYLJDWLRQ5RXWH,QIR«
6HOHFW&XUUHQW1DYLJDWLRQ5RXWH,QIR WRGLVSOD\WKH5RXWH3ODQQLQJ GLDORJ IRUWKHURXWHFXUUHQWO\GLVSOD\HGLQWKHDFWLYH&KDUWZLQGRZ8VHWKH5RXWH3ODQ QLQJGLDORJWRFDOFXODWHHVWLPDWHGDUULYDOWLPHVWRDWDUJHWZD\SRLQWEDVHGRQDVH OHFWHG'HSDUWXUHWLPH9LHZZD\SRLQWGLVWDQFHWLPHDUULYDODQGIXHOGDWDIRUHDFK OHJRIWKHGLVSOD\HGURXWH
1HZ1DY5RXWH«
6HOHFW1HZ1DY5RXWHWRGLVSOD\WKH1HZ1DY5RXWH GLDORJ&UHDWHDQHZ QDYLJDWLRQURXWHZLWKDQHZVHWRIZD\SRLQWVVWDUWLQJIURPWKHYHVVHO VFXUUHQWOR FDWLRQ&KRRVHWRQDPH\RXUQHZQDYLJDWLRQURXWHDQGHDFKZD\SRLQW\RXDGGWR WKHURXWH$FFHVVWKH$GG0RYH'HOHWH*R7R,QIRDQG8QGR RSWLRQV
1HZ3ODQ5RXWHLQ3ODQ:LQGRZ«
&UHDWHD1HZ3ODQ5RXWH ZLWKDQHZVHWRIZD\SRLQWVVWDUWLQJIURPDQ\FKDUW ORFDWLRQLQWKH3ODQ&KDUWZLQGRZ6HOHFW1HZ3ODQ5RXWHWRRSHQWKH3ODQ5RXWH GLDORJ &KRRVH WRQDPH\RXU QHZ 3ODQ 5RXWH DQG HDFKZD\SRLQW \RX DGG WR WKH URXWH$FFHVVWKH$GG0RYH'HOHWH*R7R,QIRDQG8QGR RSWLRQV
&RS\ULJKW ><=F:
Eh[Zklh\<F
0HQXVDQG3URFHGXUHV
1HZ3ODQ5RXWHLQ3ORW:LQGRZ«
&UHDWHDQHZ3ODQ5RXWHRQD3ORW6KHHWZLWKRXWWKHGLVWUDFWLRQRIWKHFKDUW 6HOHFW 1HZ 3ODQ 5RXWH LQ 3ORW :LQGRZ WR GLVSOD\ WKH 3ODQ 5RXWH GLDORJ DQG WR RSHQWKH3ORWZLQGRZ$FFHVVWKH$GG0RYH'HOHWH*R7R,QIRDQG8QGRRS WLRQV
1DPHG:D\SRLQWV«
6HOHFW1DPHG:D\SRLQWV WRFUHDWHDFXVWRPOLVWRIQDPHGZD\SRLQWVLQWKH 1DPHG :D\SRLQWV GLDORJ 6HOHFW 1DPHG :D\SRLQWV ZKHQ FUHDWLQJ RU HGLWLQJ URXWHV8VHWKH$GG DQG'HOHWH RSWLRQVWRHGLWWKH1DPHG:D\SRLQWVOLVW&KRRVH *R7R WRILQGD1DPHG:D\SRLQWORFDWLRQDQGFHQWHULWLQWKHDFWLYH &KDUWZLQ GRZ
:D\SRLQW$ODUPV«
6HWYLVLEOHDQGDXGLEOH:D\SRLQW$ODUPV WRZDUQWKHFUHZWKDWWKHYHVVHOLV LQUDQJHRIDFKLHYLQJDZD\SRLQW
/RJ
7KH 6KLS V /RJ LV D UHFRUG RI HYHQWV UHODWHG WR WKH 9HVVHO $FFHVV WKH /RJ PHQXWR ± 9LHZDQGFUHDWH/RJHQWULHV ± $XWRORJ WKH 9HVVHO SRVLWLRQ DQG RWKHU QDYLJDWLRQDO GDWD LQ WKH 6KLS V /RJ DW VSHFLILHGWLPHLQWHUYDOV ± $XWRSULQWWKH6KLS V/RJDWVSHFLILHGWLPHLQWHUYDOV ± 0DQXDOO\HQWHUFRPPHQWVWRD/RJHQWU\ ± 3ULQWWKHHQWLUH6KLS V/RJ ± $SSHQGDQGVDYHWKHFXUUHQW6KLS V/RJHQWULHVWRWKHFUXLVLQJORJ ILOHZKHQ $XWRORJJLQJLVWXUQHG2))
)LJXUH 7KH/RJPHQX
5HIHUWRWKHIROORZLQJ/RJPHQXFRPPDQGVIRUPRUHLQIRUPDWLRQ
6WDUW6WRS$XWRORJJLQJ
6HOHFW 6WDUW $XWRORJJLQJ WR HQDEOH DXWRORJJLQJ WR WKH 6KLS V /RJ GXULQJ QDYLJDWLRQ:KHQ6WDUW$XWRORJJLQJLV21WKH6KLS V/RJGLDORJGLVSOD\VZLWKWKH ILUVWHQWU\UHFRUGHGLQWKHOLVWER[&KRRVH'RQH WRFORVHWKHGLDORJ7KHSURJUDP &RS\ULJKW ><=F:
Eh[Zklh\<F
0HQXVDQG3URFHGXUHV
ZLOO FRQWLQXH WR DXWRORJ HQWULHV DW WKH WLPH LQWHUYDO VSHFLILHG LQ 6HWXS $XWRORJ JLQJ
2SHQ/RJ
6HOHFW 2SHQ /RJ WR GLVSOD\ WKH 6KLS V /RJ GLDORJ 9LHZ DOO HQWULHV LQ WKH 6KLS V/RJ&UHDWHPDQXDOORJHQWULHVRUSULQWWKH6KLS V/RJ
6HWXS$XWRORJJLQJ
6HOHFW 6HWXS $XWRORJJLQJ WR GLVSOD\ WKH 6HWXS 6KLS V /RJ GLDORJ (QWHU D WLPH LQWHUYDO IRU UHFRUGLQJ VSHFLILF HYHQWV LQ WKH 6KLS V /RJ GXULQJ QDYLJDWLRQ (QWHUDWLPHLQWHUYDOIRUSULQWLQJWKH6KLS V/RJ,QWKH6DYH6KLSV/RJWRWKLVILOH ER[HLWKHUDFFHSWWKHGHIDXOWFUXLVLQJORJ DVWKHILOHWRDSSHQGDQGVDYHWKH6KLSV /RJWRZKHQ$XWRORJJLQJLVWXUQHG2))RUHQWHUDGLIIHUHQWILOHQDPHIRUWKHFXU UHQW $XWRORJJLQJ VHVVLRQ &KHFN WKH /RJ :D\SRLQW $FKLHYHPHQW FKHFNER[ WR DXWRORJHDFKZD\SRLQWDFKLHYHGGXULQJQDYLJDWLRQ
02%
,QWKHXQIRUWXQDWHHYHQWWKDWDSHUVRQJRHVRYHUERDUG3URIHVVLRQDOVDYHV\RX YDOXDEOHWLPH$VVRRQDVVRRQDVZRUGRIWKHPDQRYHUERDUGUHDFKHVWKHEULGJH LPPHGLDWHO\ VHOHFW WKH 02% EXWWRQ RQ WKH 7RROEDU RU VHOHFW WKH 6HW FRPPDQG IURPWKH02%PHQX6HH)LJXUH (LWKHUDFWLRQHQVXUHV3URIHVVLRQDOFDSWXUHV WKH/DW/RQFORVHVWWRWKH02%ORFDWLRQ$OORSHQZLQGRZVLPPHGLDWHO\FORVHH[ FHSWIRUWKH1DYLJDWLRQ&KDUWZLQGRZZKLFKFHQWHUVLWVHOIRQWKH02%ORFDWLRQ $FFHVVWKH02% PHQXWR ± 6HWDQ02%FRQGLWLRQ ± &OHDUDQ02%FRQGLWLRQ ± 2SHQWKH02%,QIRUPDWLRQZLQGRZ ± /RFDWHDQGFHQWHUWKH02%ORFDWLRQRQWKH&KDUW 127(7KH&OHDU,QIRDQG/RFDWH FRPPDQGVDUHRQO\DYDLODEOHIRUVHOHF WLRQZKHQDQ02%HYHQWLVLQHIIHFW $FFHVV&OLFN WKH02%PHQX
RQWKH4XLFN$FFHVV7RRO%DURUVHOHFW6HWIURP
)LJXUH 7KH02%PHQX &RS\ULJKW ><=F:
Eh[Zklh\<F
0HQXVDQG3URFHGXUHV
7RROV
7KH 7RROV PHQX FRQWDLQV WKH 6HWXS 7RROV FRPPDQG IRU DGGLQJ FKDQJLQJ DQGUHPRYLQJDGGRQSURJUDPVVXFKDV7LGHVDQG&XUUHQWV 70 WRDQGIURP3UR IHVVLRQDO6HH)LJXUH $GGXSWRVHSDUDWHDGGRQ7RROVWR3URIHVVLRQDO
6SHFLDO1RWH
:KHQDQDGGRQSURJUDPLVLQWHUIDFHGZLWK3URIHVVLRQDO\RXDUHDEOHWRVWDUW LWIURPWKH7RROV PHQX,QRUGHUWRGRWKLVWKHSURJUDPPXVWEHLQVWDOOHGRQ\RXU V\VWHPDQG3URIHVVLRQDOPXVWEHWROGWKHSDWKZD\ZKHUHLWV H[HFXWDEOHILOHLVOR FDWHG 'LVFODLPHU7LGHVDQG&XUUHQWV 70 ,6$352'8&72)1$87,&$/62)7 :$5(,1&
)LJXUH 7KH7RROVPHQX
:LQGRZ
$FFHVVWKH:LQGRZ PHQXWRRSHQDGGLWLRQDO&KDUWDQG3ORWZLQGRZVDQGWR DFFHVVFRPPDQGVIRUDUUDQJLQJDOORSHQZLQGRZVRQWKHGLVSOD\6HH)LJXUH
&DVFDGH
)LJXUH 7KH:LQGRZPHQX
&DVFDGH WZR RU PRUH RSHQ ZLQGRZV RQ WKH GLVSOD\ RQH RQ WRS RI DQRWKHU ZLWKWKH7LWOH%DUVIRUHDFKZLQGRZLQYLHZ
7LOH
7LOHWZRRUPRUHRSHQZLQGRZVVLGHE\VLGHRQWKHGLVSOD\ &RS\ULJKW ><=F:
Eh[Zklh\<F
0HQXVDQG3URFHGXUHV
$UUDQJH,FRQV
$UUDQJHZLQGRZLFRQVLQDQHDWRUGHUO\URZDFURVVWKHERWWRPRIWKHGLVSOD\
/LQN3ODQWR1DY
6HOHFW/LQN 3ODQ7R1DY WRGLVSOD\DUHGER[LQWKH3ODQ&KDUWZLQGRZWKDW UHSUHVHQWVWKHFXUUHQWYLHZLQWKH1DYLJDWLRQ&KDUWZLQGRZ7KH3ODQ&KDUW:LQ GRZ PXVW EH RSHQ EHIRUH /LQN 3ODQ 7R 1DY LV DYDLODEOH IRU VHOHFWLRQ IURP WKH :LQGRZ PHQX
3ODQ &KDUW:LQGRZ
6HOHFW3ODQ &KDUW:LQGRZ WRRSHQDVHFRQG&KDUW ZLQGRZ RQ WKHGLVSOD\ $OOSURJUDPIXQFWLRQDOLW\RSHUDWHVH[DFWO\WKHVDPHLQWKH3ODQ&KDUW:LQGRZ DV LWGRHVLQWKH1DY&KDUW:LQGRZ
3ORW:LQGRZ
6HOHFW 3ORW :LQGRZ WR RSHQ D 3ORW 6KHHW ZLQGRZ RQ WKH GLVSOD\ 7KH 3ORW 6KHHWZLQGRZVKRZVWKHFXUUHQWYHVVHOSRVLWLRQDQGDOODLGVWRQDYLJDWLRQVHOHFWHG IRUGLVSOD\RQ\RXUFKDUWV
'DWD:LQGRZ
6HOHFW'DWD:LQGRZ WRRSHQWKH'DWD:LQGRZ0RQLWRUFRQWLQXRXVXSGDWHV RIQDYLJDWLRQDOLQIRUPDWLRQUHODWLQJWRWKHYHVVHO VFXUUHQWSURJUHVVVSHHGDQGOR FDWLRQ6HOHFWIRXUW\SHVRIGDWDWRPRQLWRUIURPWKH'DWD%XWWRQ/LVW
+HOS
&RQWHQWV
)LJXUH 7KH+HOSPHQX
2SHQVWKH7DEOHRI&RQWHQWVIRUWKH3URIHVVLRQDO2QOLQH+HOS
&RS\ULJKW ><=F:
Eh[Zklh\<F
0HQXVDQG3URFHGXUHV
6HDUFK)RU+HOS2Q«
'LVSOD\VWKH6HDUFKGLDORJ6FUROOWKHOLVWER[WRILQGDWRSLFRU W\SHDNH\ ZRUGLQWKHEODQNILHOGWRORFDWHDWRSLF
*HWWLQJ6WDUWHG
± ± ± ± ± ± ± ± ±
'LVSOD\VDEULHILQWURGXFWLRQWRVHYHUDOEDVLF+RZ7RSURFHGXUHVLQFOXGLQJ *366HWXS ,QVWDOO\RXU0DSWHFK&KDUWV 9LHZD&KDUW 0RYH$URXQGRQD&KDUW &KRRVHD9HVVHO6\PERODQG&RORU 9LHZ\RXU*36YHVVHOSRVLWLRQRQDFKDUW 2SHQWKH3ODQ&KDUW:LQGRZ &UHDWHD5RXWH 7KH1H[W6WHS
7HFKQLFDO6XSSRUW«
'LVSOD\VWKH7HFKQLFDO6XSSRUW3UREOHP5HSRUW&OLFN3ULQWWRPDNHD SULQW RXWRIWKHUHSRUW&OLFN'RQHWRVHQGWKHUHSRUWHOHFWURQLFDOO\
$ERXW0DSWHFK«
'LVSOD\VLQIRUPDWLRQRQWKHYHUVLRQRI3URIHVVLRQDOFXUUHQWO\UXQQLQJ
&RS\ULJKW ><=F:
Eh[Zklh\<F
4XLFN$FFHVV7RRO%DU
4XLFN$FFHVV7RRO%DU
$IWHU3URIHVVLRQDOLVXSDQGUXQQLQJSRLQWWKHFXUVRUGLUHFWO\RQD7RRO %DU EXWWRQWRGLVSOD\D7RRO7LSGHVFULELQJWKHIXQFWLRQRIWKHEXWWRQ&OLFNRQDEXW WRQ EHORZ WR GLVSOD\ D SRSXS ZLQGRZ RI DGGLWLRQDO LQIRUPDWLRQ &OLFN DJDLQ WR FORVHWKHSRSXSZLQGRZ &OLFNWKH02%EXWWRQWRUHFRUG\RXUYHVVHOORFDWLRQDQGWRGLVSOD\WKH02% 6WDWXV%DUIRUFRRUGLQDWLQJDQ02%UHFRYHU\7KH02%ORFDWLRQLVPDUNHG RQWKHFKDUW
&OLFNWKH$XWRSLORWEXWWRQWRWRJJOHWXUQLQJWKH$XWRSLORW21RU2)):KHQ WKHEXWWRQLVKLJKOLJKWHGWKH$XWRSLORWLV21
&OLFNWKH/RFDWH9HVVHOEXWWRQWRORFDWH\RXUSRVLWLRQRQWKHFKDUWDIWHUWKH FKDUWDQGYHVVHOV\QFKURQL]DWLRQLVLQWHUUXSWHG &OLFNWRGLVSOD\WKH'LUHFW7RGLDORJ
&OLFNWRGLVSOD\WKH6HOHFW6WRUHG5RXWHIRU1DYLJDWLRQGLDORJ &OLFNWRGLVSOD\WKH6HOHFW6WRUHG5RXWHIRU3ODQQLQJGLDORJ
&OLFNWRGLVSOD\WKH(GLW1DYLJDWLRQ5RXWHGLDORJIRUWKHFXUUHQWO\GLVSOD\HG 1DYLJDWLRQ5RXWH
&OLFN WR GLVSOD\ WKH 5RXWH 3ODQQLQJ GLDORJ IRU WKH FXUUHQWO\ GLVSOD\HG 1DYLJDWLRQ5RXWH &OLFNWRGLVSOD\WKH1HZ5RXWHGLDORJIRUFUHDWLQJDQHZ1DYLJDWLRQ5RXWH &OLFNWRGLVSOD\WKH3ODQ5RXWHGLDORJIRUFUHDWLQJDQHZ3ODQQLQJ5RXWH
&OLFNWRVWDUWDXWRORJJLQJLQWKH6KLS V/RJ &OLFNWRVWRS$XWRORJJLQJDQGVDYHWKHFXUUHQWORJHQWULHVWRDWH[WILOHWKH GHIDXOWLVFUXLVLQJORJ LQWKHSURJUDPGLUHFWRU\ &OLFNWRGLVSOD\WKH6KLS V/RJGLDORJ &OLFNWRGLVSOD\WKH&KDUW/LVW &RS\ULJKW ><=F:
Eh[Zklh\<F
6WDWXV%DU
&OLFNWRGLVSOD\WKHPD[LPXPVFDOHFKDUWIRUDVHOHFWHG&KDUWORFDWLRQ 7RJJOHVWKH$XWR6FDOH,QIHDWXUH21DQG2))
&OLFNWRGLVSOD\WKH(YHQW0DUNGLDORJ
&OLFNWRGLVSOD\WKH6HWXS'LVSOD\GLDORJ
6WDWXV%DU
'LVSOD\VWKH&KDUW9HVVHO6\QFKURQL]DWLRQ PRGH
6LQJOHOHIWFOLFNRQDFKDUWORFDWLRQDQGWKHQFOLFNWKH,Q EXWWRQWR6FDOH ,Q WRWKHQH[WODUJHUVFDOHGFKDUWDYDLODEOHDWWKDWORFDWLRQ
6LQJOHOHIWFOLFNRQDFKDUWORFDWLRQDQGWKHQFOLFNWKH2XW EXWWRQWR6FDOH 2XW WRWKHQH[WVPDOOHUVFDOHGFKDUWDYDLODEOHDWWKDWORFDWLRQ
7KH&KDUW6FDOH%R[&OLFNWKHGRZQDUURZWRGLVSOD\DGURSOLVWRI DYDLODEOHFKDUWVIRUDVHOHFWHGFKDUWORFDWLRQ&OLFNRQDQLWHPWRGLVSOD\LWLQWKH &KDUWZLQGRZ
7KH=RRP/HYHO%R[&OLFNWKHGRZQDUURZWRGLVSOD\DGURSOLVWRI]RRP OHYHOVZKHQ\RXZDQWWRFUHDWHRUGLVSOD\D]RRPRIWKHFXUUHQWO\GLVSOD\HGFKDUW 'LVSOD\VWKHGLVWDQFHDFURVVWKHFXUUHQWFKDUWYLHZLQVWDWXWHPHWULF RUQDXWLFDOXQLWVGHSHQGLQJRQWKH'HIDXOW8QLWV VHWWLQJLQ6HWXS'LVSOD\ 'LVSOD\VWKH /DW/RQ RI WKH YHVVHO DV GHWHUPLQHG E\ HLWKHU D FRQQHFWHG*36WKH6LPXODWRURU'HDG5HFNRQLQJ 'LVSOD\V WKH /DW/RQ RI WKH FXUVRU DV \RX PRYH WKH FXUVRU RYHUDGLVSOD\HGFKDUW
'LVSOD\VWKH5DQJHDQG%HDULQJIURPWKHYHVVHOWRWKHFXUVRU
'LVSOD\VWKHQXPEHURI&KDUWZLQGRZVFXUUHQWO\RSHQRQWKHGLV SOD\DQGWKH9HVVHO0DJQHWLF9DULDWLRQ DGMXVWPHQWIURPWUXH 1RUWK &RS\ULJKW ><=F:
Eh[Zklh\<F