6XEFODVVLQJDQG+RRNLQJZLWK9LVXDO%DVLF
3UHIDFH
:KR7KLV%RRN,V)RU
+RZ7KLV%RRN,V6WUXFWXUHG
2EWDLQLQJWKH6DPSOH&RGH
&RQYHQWLRQV8VHGLQ7KLV%RRN +RZWR&RQWDFW8V $FNQRZOHGJPHQWV
,,QWURGXFLQJ6XEFODVVLQJDQG+RRNLQJ
,QWURGXFWLRQ
6XEFODVVLQJ
7KH:LQGRZ+RRNLQJ0HFKDQLVP
7RROVWR$LG8VLQ2XU(IIRUWV $:RUGRI:DUQLQJ
:LQGRZV6\VWHP6SHFLILF,QIRUPDWLRQ ,QVLGHD:LQGRZV$SSOLFDWLRQ
,QVLGHWKH:LQGRZV0HVVDJLQJ6\VWHP
3HUIRUPDQFH&RQVLGHUDWLRQV
7KH%DVLFVRI6XEFODVVLQJDQG+RRNV :KDW,V6XEFODVVLQJ" :KDW$UH+RRNV"
,,6XEFODVVLQJDQG6XSHUFODVVLQJ
6XEFODVVLQJ
7KH$GGUHVV2I2SHUDWRU 6RPH6XEFODVVLQJ7LSV
,QVWDQFH6XEFODVVLQJ$Q([DPSOH *OREDO6XEFODVVLQJ
6XPPDU\RI.H\3RLQWVLQ6XEFODVVLQJ
6XEFODVVLQJWKH:LQGRZV&RPPRQ'LDORJ%R[HV +RZ&RPPRQ'LDORJ%R[6XEFODVVLQJ:RUNV
8VLQJWKH5HVRXUFH
&UHDWLQJWKH6XEFODVVLQJ$SSOLFDWLRQ
6XEFODVVLQJ&RPPRQ'LDORJ%R[HV2WKHU7KDQ2SHQDQG6DYH$V 3UREOHPV6XEFODVVLQJWKH)LQGDQG5HSODFH&RPPRQ'LDORJV
$FWLYH;&RQWUROVDQG6XEFODVVLQJ
6XEFODVVLQJD7KLUG3DUW\$FWLYH;&RQWURO
6XEFODVVLQJDQ$FWLYH;&RQWURO&UHDWHGLQ9%
6XEFODVVLQJD8VHU&RQWUROIURP:LWKLQD9%&UHDWHG$FWLYH;&RQWURO
&UHDWLQJDQ$FWLYH;&RQWURO7KDW6XEFODVVHV2WKHU:LQGRZV
6XSHUFODVVLQJ
:KDW,V6XSHUFODVVLQJ"
+RZWKH6XSHUFODVVLQJ([DPSOH:RUNV
3HHULQJLQWRWKH6XSHUFODVVLQJ$SSOLFDWLRQZLWK6S\
'HEXJJLQJ7HFKQLTXHVIRU6XEFODVVLQJ
:KHUHWR6WDUW
0LFURVRIW7RROV
1X0HJD V6PDUW&KHFN
,,,+RRNLQJ
:+B&$//:1'352&
+RZ:+B&$//:1'352&:RUNV $7KUHDG6SHFLILF([DPSOH
&DYHDWV
:+B&$//:1'352&5(7
+RZ:+B&$//:1'352&5(7:RUNV
$7KUHDG6SHFLILF([DPSOH &DYHDWV
:+B*(70(66$*(
+RZ:+B*(70(66$*(:RUNV
$7KUHDG6SHFLILF([DPSOH &DYHDWV
:+B.(<%2$5'DQG:+B.(<%2$5'B//
+RZ.H\ERDUG0HVVDJLQJ2SHUDWHV
'HVFULSWLRQRI+RRNV
$7KUHDG6SHFLILF([DPSOH $6\VWHP:LGH([DPSOH
$/RZ/HYHO+RRN([DPSOH &DYHDWV
:+B0286(DQG:+B0286(B//
+RZ0RXVH0HVVDJLQJ2SHUDWHV
'HVFULSWLRQRI+RRNV
/RFDWLRQRI7KLV+RRNLQWKH6\VWHP
$6LQJOH7KUHDG([DPSOH
$6\VWHP:LGH+RRN([DPSOH &DYHDWV
:+B)25(*5281','/(
'HVFULSWLRQ
/RFDWLRQRI7KLV+RRNLQWKH6\VWHP
%DFNJURXQG3URFHVVLQJ([DPSOH &DYHDWV
:+B06*),/7(5 'HVFULSWLRQ
$7KUHDG6SHFLILF([DPSOH
&DYHDWV
:+B6<606*),/7(5
'HVFULSWLRQ
$6\VWHP:LGH([DPSOH
&DYHDWV
:+B6+(//
'HVFULSWLRQ
/RFDWLRQRI7KLV+RRNLQWKH6\VWHP
$7KUHDG6SHFLILF([DPSOH &DYHDWV
:+B&%7
'HVFULSWLRQ
$7KUHDG6SHFLILF([DPSOH
&DYHDWV
:+B-2851$/5(&25'
'HVFULSWLRQ
7KH0DFUR5HFRUGHU([DPSOH
&DYHDWV
:+B-2851$/3/$<%$&. 'HVFULSWLRQ
7KH0DFUR5HFRUGHU3OD\EDFN([DPSOH
&DYHDWV
:+B'(%8*
'HVFULSWLRQ
$7KUHDG6SHFLILF([DPSOH
6RPH:+B'(%8*6FHQDULRV &DYHDWV
,97KH1(73ODWIRUP
6XEFODVVLQJ1(7:LQ)RUPV :KDW,VD:LQ)RUP"
,QVWDQFH6XEFODVVLQJ
6XEFODVVLQJD&RQWURO 6XSHUFODVVLQJ
6XSHUFODVVLQJD&RQWURO
,QWHUFHSWLQJ.H\VWURNHVLQD:LQ)RUP
%HKLQGWKH6FHQHVZLWK6S\
,PSOHPHQWLQJ+RRNVLQ9%1(7 +RRNVDQG9%1(7 'HOHJDWHV
,PSOHPHQWLQJWKH:+B.(<%2$5'+RRN ,PSOHPHQWLQJWKH:+B0286(+RRN
9$SSHQGL[HV
$0HVVDJHV
$:LQGRZ0HVVDJHV
$%XWWRQ&RQWURO6SHFLILF0HVVDJHV
$&RPER%R[6SHFLILF0HVVDJHV
$(GLW&RQWURO6SHFLILF0HVVDJHV $/LVWER[6SHFLILF0HVVDJHV
$6FUROO%DU6SHFLILF0HVVDJHV
$0HVVDJHV6SHFLILFWRWKH&RPPRQ'LDORJ%R[HV
$0HVVDJHV6SHFLILFWRWKH)RQW&RPPRQ'LDORJ%R[
$0HVVDJHV6SHFLILFWRWKH3DJH6HWXS&RPPRQ'LDORJ%R[
%$3,)XQFWLRQV
&6WUXFWXUHVDQG&RQVWDQWV &&RQVWDQWV
&RORSKRQ
3UHIDFH ,FDPHDERXWWKHLGHDWRZULWHWKLVERRNZKHQ,QRWLFHGWKDWWKHUHZDVQRRQHSODFH\RXFRXOG
JRWROHDUQDERXWVXEFODVVLQJDQGKRRNLQJ2ULJLQDOO\WKHVHWZRVXEMHFWVZHUHJHDUHGWRZDUG
PRUHDGYDQFHG&GHYHORSHUV9LVXDO%DVLF9% GHYHORSHUVZHUHQHYHUDEOHWRXVHHLWKHU
RIWKHVHWHFKQLTXHVLQDSXUH9%VROXWLRQXQWLOWKHDGYHQWRI9HUVLRQVDQGZKHQWKH
ODQJXDJHDOORZHGGHYHORSHUVWRWDSLQWRVXEFODVVLQJDQGKRRNLQJWHFKQLTXHV8QIRUWXQDWHO\
WKHUHUHPDLQHGDSUREOHPRILQVXIILFLHQWLQIRUPDWLRQWRKHOSWKH9%GHYHORSHUXQGHUVWDQG
KRZZKHQZKHUHDQGZK\WRXVHWKHVHWHFKQLTXHV
,QGRLQJVRPHUHVHDUFK,FDPHWRWKHUHDOL]DWLRQWKDWIHZ9%GHYHORSHUVKDGDVROLGJUDVSRI
WKHVHWHFKQLTXHV,QIDFWWKHVHWHFKQLTXHVZHUHEHLQJXQGHUXVHGDQGHYHQPLVXVHG
'HYHORSHUVZHUHFUHDWLQJLQFUHGLEO\FRPSOH[DQGKDUGWRPDLQWDLQFRGHFRGHWKDWFRXOGEH
JUHDWO\VLPSOLILHGLIWKHSURJUDPPHUKDGRQO\WDNHQDGYDQWDJHRIVXEFODVVLQJKRRNLQJRU
HYHQERWKWHFKQLTXHVLQWDQGHP7KLVERRNLVPHDQWQRWRQO\WRWHDFKVXEFODVVLQJDQG
KRRNLQJWHFKQLTXHVEXWDOVRWREHDVLQJOHUHVRXUFHIURPZKLFKGHYHORSHUVFDQJHW
LQIRUPDWLRQDQGDQVZHUVWRWKHLUTXHVWLRQVDERXWWKHVHWHFKQLTXHV
:KR7KLV%RRN,V)RU 7KLVERRNLVIRUWKH9%GHYHORSHUZKRZDQWVDEHWWHUXQGHUVWDQGLQJRIVXEFODVVLQJDQG
KRRNLQJDVZHOODVNQRZOHGJHRIKRZWRLQFRUSRUDWHWKHVHWHFKQLTXHVLQWRKLVSURMHFWV
QHHGQRWEHDQDGYDQFHG9%GHYHORSHUWROHDUQKRZWRHIIHFWLYHO\XVHVXEFODVVLQJDQG
KRRNLQJ7KHEHJLQQLQJRIWKLVERRNOD\VDVROLGIRXQGDWLRQWKDWZLOOEULQJWKHEHJLQQLQJRU
LQWHUPHGLDWHGHYHORSHUXSWRVSHHG
,QXQGHUVWDQGLQJVXEFODVVLQJDQGKRRNLQJ\RXPXVWGHOYHGHHSLQWRWKHLQWHUQDOVRIWKH
:LQGRZVRSHUDWLQJV\VWHP7KLVGHHSHUXQGHUVWDQGLQJRI:LQGRZVHQDEOHV\RXQRWRQO\WR
JDLQDQXQGHUVWDQGLQJRIVXEFODVVLQJDQGKRRNLQJEXWDOVRWROHDUQPRUHDERXWWKH
PHVVDJLQJV\VWHPZKLFKLVWKHKHDUWRIWKH:LQGRZVRSHUDWLQJV\VWHP,QWKHSURFHVV\RX OO
EHFRPHDEHWWHUSURJUDPPHUZKHWKHURUQRW\RXFRPPRQO\XVHVXEFODVVLQJDQGKRRNLQJLQ
\RXUDSSOLFDWLRQV
WRZULWHVXEFODVVLQJDQGKRRNLQJDSSOLFDWLRQV7KHUHIRUHDJRRGNQRZOHGJHRIWKH:LQ$3,
IXQFWLRQVDQGKRZWKH\DUHXVHGZLWKLQ9%LVQHFHVVDU\
WKHVH$3,IXQFWLRQVFRQVWDQWVDQGVWUXFWXUHVXVLQJWKH$3,7H[W9LHZHUZKLFKVKLSVZLWK
9LVXDO6WXGLR+RZHYHUVHYHUDO$3,IXQFWLRQVFRQVWDQWVDQGVWUXFWXUHGHILQLWLRQVDUH
PLVVLQJIURPWKLVYLHZHU
&:LQGRZVKDQG:LQ8VHUKKHDGHUILOHV$GGLWLRQDOO\,KDYHSURYLGHGGHILQLWLRQVIRUWKH
YDULRXV$3,IXQFWLRQVFRQVWDQWVDQGVWUXFWXUHVXVHGZLWKLQWKLVERRNLQ$SSHQGL[$ $SSHQGL[$DQG$SSHQGL[$
,ZLOOIRFXVRQXVLQJWKH9LVXDO%DVLFODQJXDJHLQWKLVERRN$OOWKHVXEFODVVLQJFRGHDQGPRVW
RIWKHKRRNLQJFRGHZLOOEHZULWWHQLQ9%7KHOLPLWDWLRQVRI9%FRPHLQWRSOD\ZKHQ
GHYHORSHUVWU\WRZULWHV\VWHPZLGHKRRNV6\VWHPZLGHKRRNVUHTXLUHDWUXH:LQG\QDPLF
OLQNOLEUDU\'// WREHFUHDWHGVRPHWKLQJWKDW9%GRHVQRWVXSSRUWLWHQDEOHV\RXWR
JHQHUDWHRQO\&20'//V 9LVXDO&ZLOOHQWHUWKHSLFWXUHDWWKLVSRLQW7KH9LVXDO&FRGH
ZLOOEHNHSWWRDPLQLPXPVRWKDW\RXFDQIRFXVRQXVLQJ9%WRLPSOHPHQWKRRNV
7KHFRGHLQWKLVERRNZDVZULWWHQDQGWHVWHGXVLQJ9LVXDO%DVLF9HUVLRQ6HUYLFH3DFN
9LVXDO%DVLF1(7%HWDDQG9LVXDO&9HUVLRQ6HUYLFH3DFN7KHIROORZLQJRSHUDWLQJ
V\VWHPVZHUHXVHGZKLOHZULWLQJWKLVERRNDQGLWVH[DPSOHV:LQGRZV:LQGRZV17
6HUYLFH3DFNDQG:LQGRZV6HUYLFH3DFN7KHUHDUHVXEWOHGLIIHUHQFHVLQWKHVH
RSHUDWLQJV\VWHPVWKDWDIIHFWKRZVXEFODVVLQJDQGKRRNLQJRSHUDWHRQHDFKV\VWHP7KHVH
GLIIHUHQFHVDUHQRWHGLQWKLVERRNZKHUHYHUWKH\ZLOODIIHFWWKHGHYHORSHU
+RZ7KLV%RRN,V6WUXFWXUHG 7KLVERRNLVJURXSHGLQWRIRXUGLVWLQFWVHFWLRQV7KHILUVWLVWKHLQWURGXFWRU\VHFWLRQZKLFK
FRQWDLQVLQIRUPDWLRQDERXWWKH:LQGRZVRSHUDWLQJV\VWHPDQGWKHEDVLFVRIVXEFODVVLQJDQG
KRRNLQJ7KLVVHFWLRQOD\VWKHIRXQGDWLRQWKDWZLOOHQDEOH\RXWRFRPSOHWHO\JUDVSWKHUHVWRI
WKHPDWHULDOLQWKLVERRN7KLVVHFWLRQFRQWDLQVWKHIROORZLQJFKDSWHUV Chapter 1
7KLVFKDSWHUGHILQHVVXEFODVVLQJDQGKRRNLQJDQGJLYHVVHYHUDOH[DPSOHVRIKRZ
HDFKFDQEHXVHGHIIHFWLYHO\,QDGGLWLRQWKHWRROVXVHGLQWKLVERRNDUHH[SODLQHG
7KHWRROVLQFOXGHWKHIROORZLQJ •
6S\ZKLFKHQDEOHVXVWRYLHZLQIRUPDWLRQDERXWSURFHVVHVZLQGRZVDQG
PHVVDJHV7KLVWRROFRPHVDVSDUWRIWKH9LVXDO6WXGLR9HUVLRQ
GHYHORSPHQWHQYLURQPHQW
•
7KH'EJZSURFGOO'//ZKLFKHQDEOHVXVWRPRUHHDVLO\GHEXJVXEFODVVLQJ
FRGHZLWKLQSURMHFWVZULWWHQLQ9HUVLRQVRURI9%7KLVWRROFDQEH
GRZQORDGHGIURPKWWSPVGQPLFURVRIWFRPYEDVLFGRZQORDGVFRQWUROVDVS •
0LFURVRIW6\VWHP,QIRUPDWLRQZKLFKHQDEOHVXVWRVHHWKHLQVWDOOHGKRRNVLQ
D:LQGRZVV\VWHP7KLVWRROFDQEHDFFHVVHGIURPWKH+HOS
$ERXW
0LFURVRIW9LVXDO%DVLFPHQXLWHPRQWKH9LVXDO%DVLFPDLQPHQXEDU
:KHQWKH$ERXWGLDORJER[DSSHDUVFOLFNWKH6\VWHP,QIREXWWRQWRYLHZ
WKH0LFURVRIW6\VWHP,QIRUPDWLRQWRRO
•
6PDUW&KHFNGHYHORSHGE\&RPSXZDUH1XPHJD/DEVZKLFKHQDEOHVXVWR
ZDWFKXQGHUWKHKRRGDVD9%SURMHFWUXQV$GD\WULDOYHUVLRQRIWKLV
VRIWZDUHLVDYDLODEOHIURP&RPSXZDUH1XPHJD/DEVDW KWWSZZZQXPHJDFRPHYDOXDWLRQVGHIDXOWDVS Chapter 2
7KLVFKDSWHUFRQWDLQVLQIRUPDWLRQRQ:LQGRZV SURFHVVHVWKUHDGVZLQGRZVDQG
PHVVDJLQJV\VWHPDVZHOODVKRZWKH\UHODWHWRVXEFODVVLQJDQGKRRNLQJ Chapter 3
7KLVFKDSWHUVWDUWVRXWZLWKDGLVFXVVLRQRIKRZVXEFODVVLQJRSHUDWHVDQGWKH
GLIIHUHQWW\SHVRIVXEFODVVLQJDW\RXUGLVSRVDODQGLVIROORZHGE\DGLVFXVVLRQRIKRZ
KRRNLQJRSHUDWHV)LQDOO\WKHSURVDQGFRQVRIXVLQJVXEFODVVLQJDQGKRRNVDUHODLG
RXWIRU\RX
7KHVHFRQGVHFWLRQFRYHUVWKHWHFKQLTXHRIVXEFODVVLQJDQGLWVYDULDWLRQV7KHSURFHVVRI
VXEFODVVLQJ9%IRUPVLVGLVFXVVHGDORQJZLWKVXEFODVVLQJFRQWUROVFRPPRQGLDORJER[HV
DQG$FWLYH;FRQWUROVWKDW\RXFUHDWH$GGLQJWRWKLVJOREDOVXEFODVVLQJDQGVXSHUFODVVLQJDUH
GLVFXVVHGDWOHQJWKDORQJZLWKGHEXJJLQJ\RXUVXEFODVVLQJFRGH7KLVVHFWLRQFRQWDLQVWKH
IROORZLQJFKDSWHUV Chapter 4
$GLVFXVVLRQRIWKH$GGUHVV2IRSHUDWRULVSUHVHQWHGILUVWIROORZHGE\DQLQGHSWK
GLVFXVVLRQRIWKHYDULRXVW\SHVRIVXEFODVVLQJDORQJZLWKH[DPSOHVRIHDFKW\SH
7LSVIRUXVLQJVXEFODVVLQJDUHSUHVHQWHGWKURXJKRXWWKLVFKDSWHU Chapter 5
$FUDVKFRXUVHRQXVLQJWKH:LQGRZV&RPPRQ'LDORJ$3,VLVSUHVHQWHGILUVW1H[W
WKHWHFKQLTXHRIVXEFODVVLQJWKH2SHQDQG6DYH$VFRPPRQGLDORJVLVGLVFXVVHG
DQGH[DPSOHVDUHSURYLGHG)LQDOO\WKHFKDSWHUILQLVKHVZLWKDGLVFXVVLRQRI
VXEFODVVLQJHDFKRIWKHRWKHUFRPPRQGLDORJV Chapter 6
7KLVFKDSWHUGLVFXVVHVKRZWRVXEFODVVDWKLUGSDUW\$FWLYH;FRQWURODQGDQ$FWLYH;
FRQWUROWKDWZHFUHDWHLQ9%1H[WIROORZVDGLVFXVVLRQRIVXEFODVVLQJD8VHU&RQWURO
IURPZLWKLQDQ$FWLYH;FRQWUROWKDWLVFUHDWHGLQ9%7KLVFKDSWHUILQLVKHVE\FUHDWLQJ
DQ$FWLYH;FRQWUROWKDWLVXVHGWRVXEFODVVD9%IRUP Chapter 7
7KHWHFKQLTXHRIVXSHUFODVVLQJDZLQGRZLVGLVFXVVHGDQGH[DPSOHVDUHSURYLGHG DQGWKHGLIIHUHQFHVDQGVLPLODULWLHVEHWZHHQVXSHUFODVVLQJDQGRWKHUW\SHVRI
VXEFODVVLQJDUHQRWHG Chapter 8
7KLVFKDSWHUSUHVHQWVYDULRXVWHFKQLTXHVXVHGWRGHEXJ\RXUVXEFODVVLQJDSSOLFDWLRQ
$ORQJZLWKWKLVGLVFXVVLRQVHYHUDORIWKHSUHYLRXVO\PHQWLRQHGWRROVDUHGLVFXVVHGLQ
PRUHGHWDLO
7KHWKLUGVHFWLRQFRYHUVWKHWHFKQLTXHRIKRRNLQJ)LIWHHQGLIIHUHQWW\SHVRIKRRNVDUH
GLVFXVVHGHDFKLQLWVRZQFKDSWHUH[FHSWIRUWKHPRXVHDQGORZOHYHONH\ERDUGKRRNV
ZKLFKDUHJURXSHGZLWKWKHUHJXODUPRXVHDQGNH\ERDUGKRRNVUHVSHFWLYHO\ 7KLVVHFWLRQ FRQWDLQVWKHIROORZLQJFKDSWHUV
Chapter 9
7KH:+B&$//:1'352&KRRNLVSUHVHQWHGLQWKLVFKDSWHUDORQJZLWKGHWDLOVRILWV
RSHUDWLRQH[DPSOHVDQGWKLQJVWRZDWFKRXWIRUZKHQXVLQJLW Chapter 10
7KH:+B&$//:1'352&5(7KRRNLVSUHVHQWHGLQWKLVFKDSWHUDORQJZLWKGHWDLOV
RILWVRSHUDWLRQH[DPSOHVDQGWKLQJVWRZDWFKRXWIRUZKHQXVLQJLW Chapter 11
7KH:+B*(70(66$*(KRRNLVSUHVHQWHGLQWKLVFKDSWHUDORQJZLWKGHWDLOVRILWV
RSHUDWLRQH[DPSOHVDQGWKLQJVWRZDWFKRXWIRUZKHQXVLQJLW Chapter 12
7KH:+B.(<%2$5'DQG:+B.(<%2$5'B//KRRNVDUHSUHVHQWHGLQWKLVFKDSWHU
DORQJZLWKGHWDLOVRIWKHLURSHUDWLRQH[DPSOHVDQGWKLQJVWRZDWFKRXWIRUZKHQXVLQJ
WKHP Chapter 13
7KH:+B0286(DQG:+B0286(B//KRRNVDUHSUHVHQWHGLQWKLVFKDSWHUDORQJ
ZLWKGHWDLOVRIWKHLURSHUDWLRQH[DPSOHVDQGWKLQJVWRZDWFKRXWIRUZKHQXVLQJ
WKHP Chapter 14
7KH:+B)25(*5281','/(KRRNLVSUHVHQWHGLQWKLVFKDSWHUDORQJZLWKGHWDLOVRI
LWVRSHUDWLRQH[DPSOHVDQGWKLQJVWRZDWFKRXWIRUZKHQXVLQJLW Chapter 15
7KH:+B06*),/7(5KRRNLVSUHVHQWHGLQWKLVFKDSWHUDORQJZLWKGHWDLOVRILWV
RSHUDWLRQH[DPSOHVDQGWKLQJVWRZDWFKRXWIRUZKHQXVLQJLW Chapter 16
7KH:+B6<606*),/7(5KRRNLVSUHVHQWHGLQWKLVFKDSWHUDORQJZLWKGHWDLOVRILWV
RSHUDWLRQH[DPSOHVDQGWKLQJVWRZDWFKRXWIRUZKHQXVLQJLW Chapter 17
7KH:+B6+(//KRRNLVSUHVHQWHGLQWKLVFKDSWHUDORQJZLWKGHWDLOVRILWVRSHUDWLRQ
H[DPSOHVDQGWKLQJVWRZDWFKRXWIRUZKHQXVLQJLW Chapter 18
7KH:+B&%7KRRNLVSUHVHQWHGLQWKLVFKDSWHUDORQJZLWKGHWDLOVRILWVRSHUDWLRQ
H[DPSOHVDQGWKLQJVWRZDWFKRXWIRUZKHQXVLQJLW Chapter 19
7KH:+B-2851$/5(&25'KRRNLVSUHVHQWHGLQWKLVFKDSWHUDORQJZLWKGHWDLOVRI
LWVRSHUDWLRQH[DPSOHVDQGWKLQJVWRZDWFKRXWIRUZKHQXVLQJLW Chapter 20
7KH:+B-2851$/3/$<%$&.KRRNLVSUHVHQWHGLQWKLVFKDSWHUDORQJZLWKGHWDLOV
RILWVRSHUDWLRQH[DPSOHVDQGWKLQJVWRZDWFKRXWIRUZKHQXVLQJLW$GLVFXVVLRQRI
KRZWKLVKRRNLVXVHGLQWDQGHPZLWKWKH:+B-2851$/5(&25'KRRNDOVRLV
SURYLGHG Chapter 21
7KH:+B'(%8*KRRNLVSUHVHQWHGLQWKLVFKDSWHUDORQJZLWKGHWDLOVRILWVRSHUDWLRQ
H[DPSOHVDQGWKLQJVWRZDWFKRXWIRUZKHQXVLQJLW$OVRGLVFXVVHGDUHZD\VWR
HQKDQFHWKHGHEXJJLQJRIKRRNVLQ\RXUDSSOLFDWLRQV
7KHIRXUWKDQGILQDOVHFWLRQFRYHUVWKHWHFKQLTXHVRIVXEFODVVLQJDQGKRRNLQJDVWKH\DSSO\
WRWKHQHZ9%1(7ODQJXDJH7KLVVHFWLRQFRQWDLQVWKHIROORZLQJFKDSWHUV Chapter 22
7KHYDULRXVWHFKQLTXHVRIVXEFODVVLQJXVLQJWKHQHZ9%1(7ODQJXDJHDUH
SUHVHQWHGLQWKLVFKDSWHUDORQJZLWKH[DPSOHV Chapter 23
7KLVFKDSWHUGLVFXVVHVKRZWRXVHKRRNVZLWKWKHQHZ9%1(7ODQJXDJH([DPSOHV
XVLQJYDULRXVKRRNVDOVRDUHSURYLGHG
2EWDLQLQJWKH6DPSOH&RGH 7KHH[DPSOH9%VRXUFHFRGHIURP6XEFODVVLQJDQG+RRNLQJZLWK9LVXDO%DVLFLVIUHHO\
GRZQORDGDEOHIURPWKH2 5HLOO\ $VVRFLDWHVZHEVLWHDWYERUHLOO\FRP-XVWIROORZWKHOLQNWR
WKHERRN VWLWOHSDJHDQGWKHQFOLFNWKH([DPSOHVOLQN7KHGRZQORDGDEOHFRGHZLOOEHXSGDWHG
WRUHIOHFWWKHPRVWUHFHQWEHWDRUSURGXFWLRQUHOHDVHRIWKH9%1(7SODWIRUP
&RQYHQWLRQV8VHGLQ7KLV%RRN 7KURXJKRXWWKLVERRNZHKDYHXVHGWKHIROORZLQJW\SRJUDSKLFFRQYHQWLRQV
Constant width
,QGLFDWHVDODQJXDJHFRQVWUXFWVXFKDVDODQJXDJHVWDWHPHQWDFRQVWDQWRUDQ
H[SUHVVLRQ,QWHUIDFHQDPHVDSSHDULQFRQVWDQWZLGWK/LQHVRIFRGHDOVRDSSHDULQ
FRQVWDQWZLGWKDVGRIXQFWLRQDQGPHWKRGSURWRW\SHV
&RQVWDQWZLGWKEROG
,QGLFDWHVXVHULQSXWLQFRGHVHFWLRQV
Italic
5HSUHVHQWVLQWULQVLFDQGDSSOLFDWLRQGHILQHGIXQFWLRQVWKHQDPHVRIV\VWHPHOHPHQWV
VXFKDVGLUHFWRULHVDQGILOHVDQG,QWHUQHWUHVRXUFHVVXFKDVZHEGRFXPHQWV1HZ
WHUPVDOVRDUHLWDOLFL]HGZKHQWKH\DUHILUVWLQWURGXFHG
&RQVWDQWZLGWKLWDOLF
,QGLFDWHVUHSODFHDEOHSDUDPHWHUQDPHVLQSURWRW\SHVRUFRPPDQGV\QWD[DQG
LQGLFDWHVYDULDEOHDQGSDUDPHWHUQDPHVLQERG\WH[W
7KLVLFRQGHVLJQDWHVDQRWHZKLFKLVDQLPSRUWDQWDVLGHWR
WKHQHDUE\WH[W
7KLVLFRQGHVLJQDWHVDZDUQLQJUHODWLQJWRWKHQHDUE\WH[W
+RZWR&RQWDFW8V :HKDYHWHVWHGDQGYHULILHGDOOWKHLQIRUPDWLRQLQWKLVERRNWRWKHEHVWRIRXUDELOLW\EXW\RX
PLJKWILQGWKDWIHDWXUHVKDYHFKDQJHGRUHYHQWKDWZHKDYHPDGHPLVWDNHV 3OHDVHOHWXV
NQRZDERXWDQ\HUURUV\RXILQGDVZHOODV\RXUVXJJHVWLRQVIRUIXWXUHHGLWLRQVE\ZULWLQJWR O’Reilly & Associates, Inc. 101 Morris St. Sebastopol, CA 95472 (800) 998-9938 (in the U.S. or Canada) (707) 829-0515 (international/local) (707) 829-0104 (fax)
FDWDORJVHQGHPDLOWR
[email protected]
7RDVNWHFKQLFDOTXHVWLRQVRUFRPPHQWRQWKHERRNVHQGHPDLOWR
[email protected]
)RUWHFKQLFDOLQIRUPDWLRQRQ9LVXDO%DVLFSURJUDPPLQJWRSDUWLFLSDWHLQ9LVXDO%DVLF
GLVFXVVLRQIRUXPVRUWRDFTXDLQW\RXUVHOIZLWK2 5HLOO\ VOLQHRI9LVXDO%DVLFERRNV\RXFDQ
DFFHVVWKH2 5HLOO\9LVXDO%DVLFZHEVLWHDW http://vb.oreilly.com
$FNQRZOHGJPHQWV ,ILUVWZDQWWRWKDQN5RQ3HWUXVKDP\HGLWRUIRUWDNLQJDFKDQFHRQDQXQSURYHQDXWKRU7KLV
LVWKHILUVWERRNWKDW,KDYHZULWWHQDQGLWKDVEHHQDYHU\IXOILOOLQJH[SHULHQFH8QGHU5RQ V
FRQVWDQWJXLGDQFHDQGGLUHFWLRQ,KDYHJURZQFRQVLGHUDEO\LQP\VNLOODQGXQGHUVWDQGLQJRI
WKHLQWULFDFLHVRIZULWLQJ
,FDQQRWWKDQNP\ZLIHHQRXJKVKHKDVEHHQWKHUHHQDEOLQJPHLQHYHU\ZD\SRVVLEOHWR
FRPSOHWHWKLVSURMHFW:LWKRXWKHU,PLJKWKDYHGLVPLVVHGWKHLGHDRIZULWLQJWKLVERRNHDUO\
RQWKLQNLQJWKDWLWZRXOGEHWRRIDURXWRIP\JUDVS+HDULQJKHUHQWKXVLDVPZKLOHWHOOLQJ
RWKHUVDERXWWKHERRNWKDW,ZDVZULWLQJDOZD\VUHQHZHGP\GHWHUPLQDWLRQDQGHQHUJ\WR
ILQLVKWKLVERRN
,ZDQWWRWKDQN0RPDQG'DGIRUWKHLUVXSSRUWDQGWKHPDQ\ORQJGLVWDQFHSKRQHFDOOVWKH\
PDGHWRPDNHVXUHWKDW,ZDVVWLOORQVFKHGXOH
,ZRXOGOLNHWRWKDQN:LOOLDP-6WHHOHD0LFURVRIWFRQVXOWDQWIRUWDNLQJWLPHRXWRIKLVEXV\
VFKHGXOHWRGLVFXVVVRPHRIWKHTXHVWLRQVDQGWKHRULHVWKDW,FDPHXSZLWKZKLOHLQWKH
SURFHVVRIZULWLQJWKLVERRN
7KHWHFKQLFDOUHYLHZHUV'DQLHO&UHHURQDQG-3+DPLOWRQGLGDZRQGHUIXOMRERIUHYLHZLQJ
WKHERRN VWHFKQLFDOPDWHULDO7KLVZDVQRHDV\MREDQG,WKDQNWKHPIRUWKHLUYDOXDEOH IHHGEDFN
)LQDOO\,ZRXOGOLNHWRWKDQN-HVVDP\Q5HDGIRUGRLQJDJUHDWMRELQWUDQVIRUPLQJWKH
LOOXVWUDWLRQVWKDW,FDPHXSZLWKLQWRWKHLUILQDOIRUP
3DUW,,QWURGXFLQJ6XEFODVVLQJDQG+RRNLQJ 7KLVVHFWLRQZLOOOD\WKHEDVLVIRUGHYHORSLQJDSSOLFDWLRQVWKDWLQFRUSRUDWH
VXEFODVVLQJDQGKRRNLQJE\H[DPLQLQJWKH:LQGRZVIDPLO\RIRSHUDWLQJ
V\VWHPVDVPHVVDJLQJV\VWHPV:H OODOVRH[SORUHZKDWVXEFODVVLQJDQG
KRRNLQJLQYROYHVKRZWKH\GLIIHUDQGZK\\RX GZDQWWRXVHRQHWHFKQLTXH
UDWKHUWKDQDQRWKHU)LQDOO\ZH OOORRNDWVRPHVRIWZDUHWRROVWKDW\RXFDQ
XVHERWKWREHWWHUXQGHUVWDQGWKHRSHUDWLRQRI:LQGRZVDVZHOODVWRJDWKHU
LQIRUPDWLRQDERXWKRZ\RXUVXEFODVVHGZLQGRZVRUKRRNVDUHSHUIRUPLQJ
&KDSWHU,QWURGXFWLRQ :LQGRZVLVDPHVVDJHEDVHGV\VWHP7KLVPHDQVWKDWHYHU\DFWLRQ\RXWDNHZKLOHXVLQJWKH
V\VWHPFUHDWHVRQHRUPRUHPHVVDJHVWRFDUU\RXWWKHDFWLRQ7KHVHPHVVDJHVDUHSDVVHG
EHWZHHQREMHFWVZLWKLQWKHV\VWHP7KHVHPHVVDJHVDOVRFDUU\ZLWKWKHPLQIRUPDWLRQWKDW
JLYHVWKHUHFLSLHQWPRUHGHWDLORQKRZWRLQWHUSUHWDQGDFWXSRQWKHPHVVDJH
&OLFNLQJDEXWWRQFRQWUROSURYLGHVDJRRGPHVVDJLQJH[DPSOH7KLVSURGXFHVQRWRQO\WKH
PHVVDJHIRUWKHPRXVHEXWWRQFOLFNEXWDOVRDZLGHDUUD\RIRWKHUPHVVDJHV7KHVHLQFOXGH
PHVVDJHVWRUHSDLQWWKHEXWWRQLQLWVGHSUHVVHGVWDWHQRWLILFDWLRQPHVVDJHVWRLQIRUPRWKHU
REMHFWVRIWKHEXWWRQ VFKDQJHLQVWDWHPHVVDJHVWRGHWHUPLQHWKHVWDWHRIWKHPRXVHFXUVRU
DVZHOODVRWKHUV(YHQDVLPSOHDFWVXFKDVPRYLQJWKHPRXVHRUSUHVVLQJDNH\RQWKH
NH\ERDUGFDQSURGXFHDQDVWRQLVKLQJQXPEHURIPHVVDJHV
,QDGGLWLRQWRFRPPXQLFDWLQJXVHUDFWLRQV:LQGRZVDOVRXVHVPHVVDJHVLQWHUQDOO\WRGR
KRXVHNHHSLQJ0HVVDJHVQHHGWREHVHQWWRXSGDWHWKHWLPHDQGGDWHWRQRWLI\RWKHUREMHFWV
RIDFKDQJHLQVWDWHDQGHYHQWRQRWLI\DSSOLFDWLRQVZKHQV\VWHPUHVRXUFHVDUHH[KDXVWHG
7KH:LQGRZVPHVVDJLQJV\VWHPLVWKHKHDUWRIWKHRSHUDWLQJV\VWHP$VDUHVXOWWKH
PHVVDJLQJV\VWHPLVYHU\FRPSOH[
6XEFODVVLQJDQGWKH:LQGRZVKRRNLQJPHFKDQLVPRSHUDWHRQPHVVDJHVZLWKLQWKH
PHVVDJLQJV\VWHP7KLVPDNHVVXEFODVVLQJDQGKRRNLQJWZRYHU\SRZHUIXOWHFKQLTXHV:LWK
WKHPZHFDQPDQLSXODWHPRGLI\RUHYHQGLVFDUGPHVVDJHVERXQGIRURWKHUREMHFWVZLWKLQ
WKHRSHUDWLQJV\VWHPDQGLQWKHSURFHVVFKDQJHWKHZD\LQZKLFKWKHV\VWHPEHKDYHV$V
\RXPLJKWDOUHDG\KDYHJXHVVHGDWKRURXJKXQGHUVWDQGLQJRIWKHPHVVDJLQJV\VWHPLV
FULWLFDOWRPDVWHULQJWKHWHFKQLTXHVRIVXEFODVVLQJDQGKRRNLQJ
$ORQJZLWKWKLVSRZHUFRPHVUHVSRQVLELOLW\,WLVXSWRWKHGHYHORSHUWRPDNHVXUHWKDWKHRU
VKHLVXVLQJWKHVHWHFKQLTXHVFRUUHFWO\:LQGRZVLVYHU\XQIRUJLYLQJLIWKHVHWHFKQLTXHVDUH
XVHGLQFRUUHFWO\
6XEFODVVLQJ 6XEFODVVLQJWHFKQLTXHVGHDOZLWKLQWHUFHSWLQJPHVVDJHVERXQGIRURQHRUPRUHZLQGRZVRU
FRQWUROV7KHVHPHVVDJHVDUHLQWHUFHSWHGEHIRUHWKH\FDQUHDFKWKHLUGHVWLQDWLRQZLQGRZ
7KHLQWHUFHSWHGPHVVDJHFDQEHOHIWLQLWVRULJLQDOVWDWHRUPRGLILHG$IWHUZDUGWKHPHVVDJH
FDQEHVHQWWRLWVRULJLQDOGHVWLQDWLRQRUGLVFDUGHG
%\LQWHUFHSWLQJPHVVDJHVLQWKLVPDQQHUZHFDQKDYHDSRZHUIXOLQIOXHQFHRQKRZWKH
ZLQGRZRUFRQWUROZLOOUHDFWWRWKHPHVVDJHVLWUHFHLYHV&RQVLGHUIRUH[DPSOHULJKWFOLFNLQJ
WKH9LVXDO%DVLF9% WH[WER[FRQWURO7KLVDFWLRQFDXVHVDGHIDXOWSRSXSPHQXWREH
GLVSOD\HGFRQWDLQLQJWKHIROORZLQJPHQXLWHPV8QGR&XW&RS\3DVWH'HOHWHDQG6HOHFW
$OO5HSODFLQJWKLVPHQXZLWKRQHRIRXURZQLVDIDLUO\VLPSOHWDVNXVLQJVXEFODVVLQJ
6XEFODVVLQJKDVPDQ\RWKHUXVHVDVZHOOVXFKDV • • • • • • • • • • • •
'HWHUPLQLQJZKHQDZLQGRZLVEHLQJDFWLYDWHGRUGHDFWLYDWHGDQGUHVSRQGLQJWRWKLV
FKDQJH
5HVSRQGLQJWRQHZPHQXLWHPVWKDWDUHPDQXDOO\DGGHGWRWKHV\VWHPPHQXRID
ZLQGRZ
'LVSOD\LQJGHVFULSWLRQVRIPHQXLWHPVDVWKHPRXVHPRYHVDFURVVWKHP
'LVDOORZLQJDXVHUWRPRYHRUUHVL]HDZLQGRZ
$OORZLQJDXVHUWRPRYHRUUHVL]HDZLQGRZZLWKLQVSHFLILHGERXQGDULHV
'HWHUPLQLQJZKHUHWKHPRXVHFXUVRULVDQGUHVSRQGLQJDFFRUGLQJO\
0RGLI\LQJWKHORRNRIDZLQGRZRUFRQWURO
&KDQJLQJWKHZD\DFRPERER[RSHUDWHV
'HWHUPLQLQJZKHQWKHGLVSOD\UHVROXWLRQKDVEHHQFKDQJHG
0RQLWRULQJWKHV\VWHPIRUDORZV\VWHPUHVRXUFHFRQGLWLRQ
0RGLI\LQJRUGLVDOORZLQJNH\VWURNHVVHQWWRDZLQGRZRUFRQWURO
0RGLI\LQJKRZDZLQGRZRUFRQWUROLVSDLQWHGRQWKHVFUHHQ
6XEFODVVLQJRSHQVXSDZHDOWKRISRVVLELOLWLHVWRWKH9%GHYHORSHUSRVVLELOLWLHVWKDW
RUGLQDULO\DUHFRPSOHWHO\XQDYDLODEOHRUDWOHDVWDUHQRWHDV\WRLPSOHPHQW
7KHUHDUHWKUHHW\SHVRIVXEFODVVLQJDOORIZKLFK,ZLOOGLVFXVV7KHILUVWLVLQVWDQFH
VXEFODVVLQJZKLFKPDNHVLWSRVVLEOHWRLQWHUFHSWPHVVDJHVIRUDVLQJOHLQVWDQFHRIDZLQGRZ
RUFRQWURO7KLVW\SHRIVXEFODVVLQJLVWKHPRVWFRPPRQO\XVHG,WLVXVHGWRFRQWUROIRU
H[DPSOHWKHXVHU VDELOLW\WRVL]HDVLQJOHLQVWDQFHRIDZLQGRZ7KHVHFRQGLVJOREDO
VXEFODVVLQJZKLFKPDNHVLWSRVVLEOHWRLQWHUFHSWPHVVDJHVIRURQHRUPRUHZLQGRZVRU
FRQWUROVWKDWDUHDOOFUHDWHGIURPWKHVDPHZLQGRZFODVV$OOZLQGRZVGHULYHIURPVRPHW\SH
RIFODVVWKHVHFODVVHVGHVFULEHWKHIXQGDPHQWDOORRNDQGEHKDYLRURIZLQGRZVFUHDWHGIURP
WKHP7DNHIRUH[DPSOHDVWDQGDUGEXWWRQFRQWUROHDFKLQVWDQFHRIWKLVFRQWUROGHULYHVIURP
D%87721FODVV8VLQJJOREDOVXEFODVVLQJZHFDQFKDQJHWKHEHKDYLRURIWKHFODVV7KLVLQ
WXUQDOORZVXVWRLQWHUFHSWPHVVDJHVIURPDOOZLQGRZRUFRQWUROLQVWDQFHVFUHDWHGIURPWKLV
FODVV8VLQJJOREDOVXEFODVVLQJZHFDQFRQWUROWKHXVHU VDELOLW\WRVL]HDQ\ZLQGRZFUHDWHG
IURPDSDUWLFXODUFODVV7KHWKLUGW\SHRIVXEFODVVLQJVXSHUFODVVLQJLVDFORVHUHODWLYHRI
JOREDOVXEFODVVLQJ6XSHUFODVVLQJDOVRKDVWKHDELOLW\WRLQWHUFHSWPHVVDJHVIRURQHRUPRUH
ZLQGRZVRUFRQWUROV7KHGLIIHUHQFHLVWKDWDEUDQGQHZZLQGRZFODVVLVFUHDWHGWRIDFLOLWDWH
WKLVW\SHRIVXEFODVVLQJ6LPLODUWRJOREDOVXEFODVVLQJVXSHUFODVVLQJDOORZVXVHUVWRVL]HD ZLQGRZWREHFRQWUROOHG
7KH:LQGRZ+RRNLQJ0HFKDQLVP
7KHZLQGRZKRRNLQJPHFKDQLVPRUKRRNVDOVRGHDOVZLWKLQWHUFHSWLQJPHVVDJHVEXWDWD PXFKEURDGHUVFRSHWKDQVXEFODVVLQJ+RRNLQJDOORZVXVWRLQWHUFHSWPHVVDJHVDWYDULRXV
VHWSRLQWVZLWKLQWKHRSHUDWLQJV\VWHP)RUH[DPSOHZHFDQLQWHUFHSWDPHVVDJHEHIRUHDQG
DIWHUDZLQGRZKDVSURFHVVHGLW
7KHUHDUHVHYHUDOGLIIHUHQWNLQGVRIKRRNVHDFKZLWKWKHLURZQVSHFLDOSXUSRVHDQGORFDWLRQ
ZLWKLQWKHRSHUDWLQJV\VWHP7KH\DUH :+B&$//:1'352&
:+B&$//:1'352&5(7
:+B&%7
:+B'(%8*
:+B)25(*5281','/( :+B*(70(66$*(
:+B-2851$/3/$<%$&.
:+B-2851$/5(&25' :+B.(<%2$5'
:+B.(<%2$5'B//
:+B0286(
:+B0286(B//
:+B06*),/7(5
:+B6<606*),/7(5 :+B6+(//
+RRNVXQOLNHVXEFODVVLQJFDQKDYHDQDSSOLFDWLRQVFRSHRUDV\VWHPZLGHVFRSH%\WKLV,
PHDQDVLQJOHKRRNFDQLQWHUFHSWVSHFLILFPHVVDJHVZLWKLQDVLQJOHDSSOLFDWLRQRULWFDQEH VHWXSWRLQWHUFHSWWKRVHVDPHPHVVDJHVIRUDOODSSOLFDWLRQVUXQQLQJLQWKHV\VWHP+RRNV
JLYHXVFRQWURORYHUWKHV\VWHPZKLFKFDQQRWEHDFKLHYHGZLWKVXEFODVVLQJ7KHIROORZLQJ
DUHMXVWDIHZRIWKHXVHVIRUKRRNV • • • • • • • • • • •
0RGLI\LQJPHVVDJHVVHQWWRGLDORJER[HVVFUROOEDUVPHQXVRUPHVVDJHER[HV
6XEFODVVLQJDZLQGRZWKDWUHVLGHVLQDVHSDUDWHSURFHVV
&UHDWLQJDPDFURUHFRUGHUWKDWFDQSOD\EDFNWKHUHFRUGHGPDFURDVZHOO
'HYHORSLQJFRPSXWHUEDVHGWUDLQLQJ&%7 DSSOLFDWLRQV
&DSWXULQJDQGPRGLI\LQJPRXVHRUNH\ERDUGPHVVDJHVDWDV\VWHPOHYHO 3URYLGLQJDKHOSIXQFWLRQNH\IRUPHQXLWHPVDQGPHVVDJHER[HV
&UHDWLQJDXWLOLW\VLPLODUWR6S\
&UHDWLQJDQDXWRPDWHGWHVWLQJDSSOLFDWLRQ
'HWHUPLQLQJZKHQDQDSSOLFDWLRQLVLGOH
0RGLI\LQJPRXVHEXWWRQVDQGNH\VWURNHVIRUDSDUWLFXODUDSSOLFDWLRQRUIRUDOO
DSSOLFDWLRQV
0RGLI\LQJ$/77$%DQG$/7(6&NH\IXQFWLRQDOLW\
,ZLOOGLVFXVVDOOWKHKRRNVOLVWHGKHUHDVZHOODVVKRZKRZWRDSSO\WKHPWRDVLQJOH
DSSOLFDWLRQRUWRDOODSSOLFDWLRQVUXQQLQJLQWKHV\VWHPLQ&KDSWHUWKURXJK&KDSWHU
7RROVWR$LG8VLQ2XU(IIRUWV $ORQJZLWKXVLQJWKHVHDGYDQFHGWHFKQLTXHVHIIHFWLYHO\LPSOHPHQWLQJVXEFODVVLQJDQG
KRRNLQJLQRXUGHYHORSPHQWZRUNUHTXLUHVWKDWZHHPSOR\GHEXJJLQJWRROVEH\RQGWKH
FDSDELOLWLHVRIWKH9%GHEXJJHU
:KLOHGHYHORSLQJWKHSURMHFWVIRUWKLVERRN,XVHGVHYHUDOVRIWZDUHXWLOLWLHVDVZHOODVRWKHU SURIHVVLRQDODSSOLFDWLRQVWKDW,EXLOW$OWKRXJK\RXFDQVXFFHVVIXOO\EXLOGDSSOLFDWLRQVWKDW
VXEFODVVYDULRXVZLQGRZVRUWKDWKRRNLQWRFHUWDLQPHVVDJHVWUHDPVZLWKRXWWKHVHXWLOLWLHV,
GRQRWVXJJHVWGRLQJVR7KHVHXWLOLWLHVJLYH\RXWKHGHYHORSHUDYDOXDEOHLQVLJKWLQWRZKDWLV
KDSSHQLQJLQVLGHWKHV\VWHPZKLOHUXQQLQJ\RXUSURMHFWVLQWKH9%LQWHJUDWHGGHYHORSPHQW
HQYLURQPHQW,'( DQGHVSHFLDOO\DWUXQWLPH
WKDWLVXQDYDLODEOHWR\RXE\MXVWXVLQJWKH9LVXDO%DVLFRU9LVXDO&GHYHORSPHQW
HQYLURQPHQWV
,ZRXOGJRDVIDUDVVD\LQJWKDWVRPHRIWKHVHXWLOLWLHVDUHQHFHVVDU\WRXQGHUVWDQGKRZ
VXEFODVVLQJDQGKRRNVZRUN2WKHUZLVH\RXZLOORQO\EHEOLQGO\SOXJJLQJFRGHLQWRDQ
DSSOLFDWLRQQRWIXOO\XQGHUVWDQGLQJZK\\RXDUHGRLQJLWDQGZKDWLVKDSSHQLQJEHKLQGWKH
VFHQHV:KHQWKHDSSOLFDWLRQORFNVXSGHEXJJLQJLWZLOOEHIUXVWUDWLQJDQGSRVVLEO\IXWLOH
:KDW,DPVWUHVVLQJKHUHLVWKDWZHDVSURJUDPPHUVPXVWDVSLUHWRKDYHDQXQGHUVWDQGLQJ
RIZKDWZHDUHGRLQJ:LWKRXWWKLVXQGHUVWDQGLQJZHFDQQRWKRSHWRUHDFKWKHPRUH
DGYDQFHGDUHDVRIRXUGLVFLSOLQH+DYLQJDQXQGHUVWDQGLQJRIKRZVXEFODVVLQJDQGKRRNV
ZRUNDQGLQWHUDFWZLWKWKHUHVWRIWKH:LQGRZVV\VWHPZLOODOORZ\RXWREXLOGVXFFHVVIXO
DSSOLFDWLRQV
,ZLOOGHVFULEHWKHXWLOLWLHVWKDW,XVHLQWKHIROORZLQJVHFWLRQV$OWKRXJKWKLVERRNZLOOQRW
LQFOXGHDWXWRULDOIRURSHUDWLQJWKHVHXWLOLWLHVWKHUHLVVRPHYHU\JRRGGRFXPHQWDWLRQLQWKH
0LFURVRIW'HYHORSHU1HWZRUN/LEUDU\06'1 IRU6S\DQG39LHZ7KH1X0HJDWRROVFRPH
ZLWKWKHLURZQGRFXPHQWDWLRQ1RWHWKDWVRPHRIWKHVHWRROVGLVSOD\GLIIHUHQWLQIRUPDWLRQ
GHSHQGLQJRQZKLFKRSHUDWLQJV\VWHP\RXDUHXVLQJHJ:LQGRZV[17RU
6S\ 7KH6S\XWLOLW\LVLQFOXGHGLQWKH:LQ6RIWZDUH'HYHORSPHQW.LW6'. DVZHOODVLQ
0LFURVRIW9LVXDO6WXGLR
,KDYHXVHGWKLVXWLOLW\WKHPRVWH[FHSWPD\EHIRU1X0HJD V6PDUW&KHFNXWLOLW\6S\LVRQH
RIWKHPRVWYDOXDEOHWRROVZKHQLPSOHPHQWLQJVXEFODVVLQJDQGVXSHUFODVVLQJ6S\FDQ
SURYLGH\RXZLWKDOOWKHLQIRUPDWLRQ\RXQHHGWRYHULI\WKHVWDWHRIWKHDSSOLFDWLRQEHIRUHDQG
DIWHUDVXEFODVVLQJRSHUDWLRQDVZHOODVDOOWKHPHVVDJHLQIRUPDWLRQEHLQJSDVVHGWRDQG
IURPDZLQGRZ6S\LVGHVFULEHGDVDWRROIRUVS\LQJRQGLIIHUHQWSDUWVRIWKHRSHUDWLQJ
V\VWHP7KLVPHDQV\RXFDQZDWFKDVSURFHVVHVWKUHDGVDQGZLQGRZVFRQWDLQHGZLWKLQWKH
WKUHDGVDUHFUHDWHGDQGGHVWUR\HG$OVR\RXFDQJHWYDOXDEOHLQIRUPDWLRQRQWKHVHREMHFWV
VRPHRIZKLFKLVFRQWDLQHGZLWKLQWKHVWUXFWXUHVXVHGWRFUHDWHWKHP%XWHYHQPRUHXVHIXOLV
WKHDELOLW\WRZDWFKLQUHDOWLPHDVPHVVDJHVIORZWKURXJKRXWWKHV\VWHP7KLVLQP\RSLQLRQ
LVWKHPRVWSRZHUIXOIHDWXUHRIWKLVWRRO
6S\LVD0XOWLSOH'RFXPHQW,QWHUIDFH0', DSSOLFDWLRQ/HW VVWDUWXS6S\DQGTXLFNO\
UXQWKURXJKWKHZLQGRZVDQGPHQXVMXVWWREHFRPHIDPLOLDUZLWKJHWWLQJDURXQGLQWKHWRRO
(DFKFKLOGZLQGRZZLWKLQ6S\GLVSOD\VLQIRUPDWLRQRQSURFHVVHVWKUHDGVWRSOHYHO
ZLQGRZVRUPHVVDJHV/HW VVWDUWZLWKWKH3URFHVVHVZLQGRZDQGZRUNRXUZD\GRZQ
:KHQ6S\LVVWDUWHGLWZLOOWDNHDVQDSVKRWRIWKHV\VWHPDWWKDWSRLQWLQWLPH7KLVGRHV
QRWDSSO\WRVS\LQJRQPHVVDJHVPHVVDJHVDUHGLVSOD\HGDVVRRQDVWKH\DUULYHDWWKH
ZLQGRZ $Q\WLPHDQDSSOLFDWLRQLVVWDUWHGRUHQGHGRULWVVWDWHFKDQJHV\RXVKRXOGUHIUHVK
WKHGLVSOD\E\SUHVVLQJWKH)NH\7KLVZLOODOORZ\RXWRYLHZWKHPRVWFXUUHQWVWDWHRIWKH
V\VWHP
7KH3URFHVVHVZLQGRZZKLFKLVVKRZQLQ)LJXUHLVRSHQHGDXWRPDWLFDOO\ZKHQ6S\LV ODXQFKHGDQGGLVSOD\VDOLVWRIFXUUHQWO\UXQQLQJSURFHVVHVLQWKHV\VWHPLQDWUHHKLHUDUFK\
WKUHDGVZLWKLQDSURFHVVGLVSOD\HGZLWKDVLQJOHJHDULFRQ,IDWKUHDGFRQWDLQVDQ\WRSOHYHO
ZLQGRZV\RXFDQGULOOGRZQLQWRWKHVHZLQGRZVDVZHOO7RSOHYHOZLQGRZVDUHZLQGRZVWKDW
KDYHWKHGHVNWRSZLQGRZDVWKHLURQO\ZLQGRZ7KHWRSOHYHOZLQGRZVDUHGLVSOD\HGZLWKD
UHFWDQJXODUZLQGRZLFRQ(DFKLWHPLQWKHWUHHFDQEHGRXEOHFOLFNHGWRGLVSOD\DGLDORJER[
WKDWGLVSOD\VLWVSURSHUWLHV:LWKLQHDFKSURSHUWLHVGLDORJER[H[FHSWIRUWKH3URFHVVHV
3URSHUWLHVGLDORJWKHUHDUHK\SHUOLQNVWRIDFLOLWDWHWKHSURFHVVRIGULOOLQJXSDQGGRZQWKURXJK
SURFHVVHVWKUHDGVZLQGRZVDQGPHVVDJHV(DFKLWHPFDQEHULJKWFOLFNHGDVZHOOWR
GLVSOD\DSRSXSPHQXIRUWKDWLWHP$VHSDUDWHSRSXSPHQXLVGLVSOD\HGIRUSURFHVVHV WKUHDGVZLQGRZVDQGPHVVDJHV
)LJXUH8VLQJ6S\WRYLHZWKHSURFHVVHVFXUUHQWO\UXQQLQJ
,I\RXUSULPDU\LQWHUHVWLVH[DPLQLQJWKHUXQQLQJWKUHDGVUDWKHUWKDQWKHSURFHVVHV\RXFDQ
RSHQWKH7KUHDGVZLQGRZE\VHOHFWLQJWKH7KUHDGVRSWLRQIURPWKH6S\PHQX7KH7KUHDGV
ZLQGRZZKLFKLVVKRZQLQ)LJXUHGLVSOD\VDOLVWRIFXUUHQWO\UXQQLQJWKUHDGVLQDOO
SURFHVVHVLQWKHV\VWHPVRUWHGE\WKUHDG,'7KHGLVSOD\LVVLPLODUWRWKH3URFHVVHVZLQGRZ
H[FHSWWKDWWKH3URFHVVHVOHYHOKDVEHHQUHPRYHGDQGWKHUXQQLQJWKUHDGVDUHQRZDWWKHWRS
RIWKHKLHUDUFK\
3URFHVVHVZLQGRZ
)LJXUH8VLQJ6S\WRYLHZWKHUXQQLQJWKUHDGVRIDOOUXQQLQJSURFHVVHV
)LQDOO\LI\RX UHLQWHUHVWHGLQWKHZLQGRZVKDQGOHGE\WKHV\VWHPDQGLWVDSSOLFDWLRQV\RX
FDQXVHWKH:LQGRZVZLQGRZZKLFKDOVRLVRSHQHGZKHQ6S\VWDUWV7KH:LQGRZV
ZLQGRZZKLFKLVVKRZQLQ)LJXUHRSHUDWHVOLNHWKH3URFHVVHVDQG7KUHDGVZLQGRZVDQG
GLVSOD\VDOLVWRIDOOFXUUHQWO\UXQQLQJWRSOHYHOZLQGRZVDQGWKHLUFKLOGZLQGRZV:LWKWKLV
LQIRUPDWLRQ\RXFDQVHHKRZDQDSSOLFDWLRQ VGHVLJQHUDUUDQJHGWKHXVHULQWHUIDFH8, IRU HDFKDSSOLFDWLRQ
)LJXUH8VLQJ6S\WRYLHZDOOUXQQLQJWRSOHYHOZLQGRZVDQGWKHLUFKLOGZLQGRZV
)LQDOO\WKH0HVVDJHVZLQGRZZKLFKLVVKRZQLQ)LJXUHLVWKHZLQGRZWKDWZHZLOOEH PRVWLQWHUHVWHGLQIRUWKHDSSOLFDWLRQVWKDWZHZLOOEHEXLOGLQJWKURXJKRXWWKLVERRN
)LJXUH8VLQJ6S\WRYLHZWKHPHVVDJHVEHLQJVHQWWKURXJKRXWWKHV\VWHP
&OLFNLQJWKH0HVVDJHV
2SWLRQVPHQXLWHPGLVSOD\VWKH0HVVDJH2SWLRQVGLDORJER[
7KLVGLDORJFRQWDLQVWKHIROORZLQJWKUHHWDEV The Windows tab
'HWHUPLQHVZKLFKZLQGRZVZLOOEHZDWFKHG'UDJJLQJWKH)LQGHULFRQDQGGURSSLQJLW
RQWRDZLQGRZZLOOVHOHFWWKDWZLQGRZ VPHVVDJHVWREHGLVSOD\HGLQ6S\7KH
FKHFNER[HVLQWKH$GGLWLRQDO:LQGRZVIUDPHDOORZ\RXWRYLHZPHVVDJHVIRU
DGGLWLRQDOZLQGRZV The Messages tab
%HFDXVHZDWFKLQJHYHU\PHVVDJHIRUHYHU\ZLQGRZLQWKHV\VWHPZRXOGSURGXFHIDU
WRRPXFKLQIRUPDWLRQWRGLJHVWWKLVWDEDOORZV\RXWRFKRRVHZKLFKPHVVDJHVWR
GLVSOD\7KH0HVVDJHVWR9LHZOLVWER[GLVSOD\VHYHU\PHVVDJHWKDWFDQEHZDWFKHG
7KHFKHFNER[HVLQWKH0HVVDJH*URXSVIUDPHWRWKHULJKWRIWKHOLVWER[FRUUHVSRQG
WRVHSDUDWHJURXSVRIUHODWHGPHVVDJHV0RVWRIWKHFKHFNER[HVDUHVHOI
H[SODQDWRU\IRUH[DPSOHPRXVHPHVVDJHVFRUUHODWHZLWKWKH0RXVHFKHFNER[7KH
1RQ&OLHQWFKHFNER[UHODWHVWRPHVVDJHVWKDWXVXDOO\KDYHWKHOHWWHUV1&LQWKHP
1&VWDQGVIRUQRQFOLHQW7KHVHPHVVDJHVGHVFULEHDFWLRQVRULJLQDWLQJIURPWKHQRQ
FOLHQWDUHDRIDZLQGRZVXFKDVWKHWLWOHEDUVDQGRUDERUGHUWKDWLVEHLQJUHVL]HG
7KH*HQHUDOFKHFNER[UHODWHVWRWKHPHVVDJHVFRPPRQO\XVHGLQDZLQGRZVXFKDV
:0B&200$1':0B7,0(5RU:0B3$,177KH5HJLVWHUHGFKHFNER[ZDWFKHVIRU
PHVVDJHVGHILQHGE\WKHGHYHORSHUXVLQJWKH5HJLVWHU:LQGRZ0HVVDJHDSSOLFDWLRQ
SURJUDPPLQJLQWHUIDFH$3, IXQFWLRQ7KH8QNQRZQFKHFNER[ZDWFKHVIRUPHVVDJHV
WKDWDUHGHILQHGWREHLQWKHUDQJHRI]HURWRRQHOHVVWKDQWKH:0B86(5FRQVWDQW
+ 7KHVHDUHPHVVDJHLGHQWLILHUVWKDWDUHUHVHUYHGIRUWKHV\VWHPWRXVH7KH
5HJLVWHUHGFKHFNER[ZDWFKHVIRUPHVVDJHVWKDWDUHGHILQHGWREHHTXDOWRRUJUHDWHU
WKDQWKH:0B86(5FRQVWDQW7KHVHDUHDSSOLFDWLRQGHILQHGPHVVDJHV$IWHU\RX
VHOHFWDOOWKHPHVVDJHV\RXZDQWWRZDWFKLWLVDJRRGLGHDWRFKHFNWKH6DYH
6HWWLQJVDV'HIDXOWFKHFNER[WKLVZD\\RXZLOOQRWKDYHWRJREDFNHYHU\WLPHDQG
UHVHOHFWWKHDSSURSULDWHPHVVDJHV The Output tab
7KLVWDEDOORZV\RXVRPHFRQWURORYHUWKHPHVVDJHLQIRUPDWLRQGLVSOD\HGE\6S\
)RUWKLVWDE,XVXDOO\FKHFNDOOWKHFKHFNER[HVJURXSHGLQWKH6KRZLQ0HVVDJH/RJ
IUDPHDQGLQFUHDVHWKHYDOXHLQWKH/LQHV0D[LPXPWH[WER[WRDQDSSURSULDWHYDOXH
VRPHZKHUHDURXQG &KHFNLQJDOOWKHVHFKHFNER[HVZLOOGLVSOD\WKHPD[LPXP
DPRXQWRILQIRUPDWLRQDERXWDPHVVDJH:HZLOOQRWQHHGWKH0HVVDJH2ULJLQ7LPH
DQG0HVVDJH0RXVH3RVLWLRQFKHFNER[HVXQWLOODWHUZKHQZHORRNLQWRXVLQJ
MRXUQDOLQJKRRNV&KHFNLQJWKH6DYH6HWWLQJVDV'HIDXOWFKHFNER[LVDJRRGLGHD
KHUHDVZHOO
$IWHUVHOHFWLQJZKLFKPHVVDJHVWRYLHZIRUZKLFKZLQGRZVFOLFNLQJ0HVVDJHV
6WDUW
/RJJLQJZLOODOORZ6S\WRVWDUWGLVSOD\LQJWKHPHVVDJHVWKDW\RXKDYHVHOHFWHGLQWKH
0HVVDJHVZLQGRZ7KHILUVWFROXPQRIWKH0HVVDJHVZLQGRZZLOOGLVSOD\DOLQHQXPEHUWR
GHQRWHWKHRUGHURIWKHPHVVDJHV7KHQH[WFROXPQLVWKHZLQGRZKDQGOHWKDWWKHPHVVDJH
ZDVGLUHFWHGWR7KHWKLUGFROXPQLVIRUPHVVDJHFRGHV$PHVVDJHFRGHFRXOGEHGLVSOD\HG
DVD36VRU5$PHVVDJHFRGHRI3PHDQVWKDWWKLVPHVVDJHZDVSRVWHGWRWKHZLQGRZ V
PHVVDJHTXHXHDQGWKDWWKHSRVWLQJDSSOLFDWLRQKDVFRQWLQXHGWRH[HFXWHFRGHDQGLWLVQRW
ZDLWLQJIRUDUHWXUQFRGHWREHVHQWEDFN$Q6PHDQVWKDWWKHPHVVDJHZDVVHQWWRWKLV
ZLQGRZXVLQJWKH6HQG0HVVDJH$3,IXQFWLRQRURQHRILWVGHULYDWLYHVVXFKDV
6HQG0HVVDJH&DOOEDFN6HQG0HVVDJHZLOOZDLWIRUDUHWXUQYDOXHWREHSDVVHGEDFNWRLW
EHIRUHFRQWLQXLQJWRH[HFXWHFRGHLQWKHFDOOLQJDSSOLFDWLRQ(YHU\PHVVDJHZLWKDFRGHRI6
LVIROORZHGE\WKDWVDPHPHVVDJHZLWKDFRGHRI5$PHVVDJHFRGHRI5PHDQVWKDWDUHWXUQ
YDOXHKDVEHHQSDVVHGEDFNWRWKHFDOOHU$PHVVDJHFRGHRIVPHDQVWKDWWKHUHWXUQYDOXH
FDQQRWEHDFFHVVHGGXHWRDVHFXULW\UHVWULFWLRQ7KHQH[WFROXPQLQWKH0HVVDJHVZLQGRZ GLVSOD\VWKHDFWXDOPHVVDJHQDPH7KLVQDPHPLJKWEHSUHFHGHGE\RQHRUPRUHSHULRGV
(DFKSHULRGLVDQHVWLQJOHYHO7KLVPHDQVWKDWDPHVVDJHFRXOGEHUHFHLYHGE\WKHZLQGRZ
SURFHGXUHWKDWLQWXUQPLJKWILUHRIIVHYHUDORWKHUPHVVDJHVHDFKRIZKLFKFRXOGEHKDQGOHG
EHIRUHWKHRULJLQDOPHVVDJHFRPSOHWHVSURFHVVLQJ,I\RXZDWFKHGIRUHYHU\PHVVDJHIRUD
SDUWLFXODUZLQGRZ\RXZRXOGQRWLFHWKDWVRPHPHVVDJHVKDYLQJDFRGHRI6VHQWPHVVDJHV
DUHQRWLPPHGLDWHO\IROORZHGE\WKHUHWXUQHGPHVVDJH,QVWHDGVHYHUDORWKHUQHVWHG
PHVVDJHVPLJKWEHILUHGRIIHDFKEHLQJSUHFHGHGE\RQHRUPRUHSHULRGV,WZRXOGORRN
VRPHWKLQJOLNHWKLVLQ6S\
%6:0B1&$&7,9$7( %6:0B*(77(;7
%5:0B*(77(;7
%5:0B1&$&7,9$7(
9DOXHVIROORZLQJWKHPHVVDJHZLOOGHVFULEHLQGHWDLOWKHZ3DUDPDQGO3DUDPSDUDPHWHUV7KLV
GHVFULSWLRQGHSHQGVRQWKHW\SHRIPHVVDJH%\FKHFNLQJWKH'HFRGHG0HVVDJH3DUDPHWHUV
DQG'HFRGHG5HWXUQ9DOXHVFKHFNER[HVLQWKH0HVVDJH2SWLRQVGLDORJER[\RXZLOOEHDEOH
WRVHHDXVHIXOGHVFULSWLRQRIWKHZ3DUDPO3DUDPDQGUHWXUQYDOXHVRIHDFKPHVVDJH
,I\RXGRXEOHFOLFNDPHVVDJHWKH0HVVDJH3URSHUWLHVGLDORJER[DSSHDUV7KLVGLDORJ
EDVLFDOO\GLVSOD\VWKHVDPHLQIRUPDWLRQWKDWLVSUHVHQWLQWKH0HVVDJHVFKLOGZLQGRZEXWLW
DGGVWZRXVHIXOIHDWXUHV7KHILUVWLVWKH:LQGRZ+DQGOHILHOGLQWKHGLDORJER[ZKLFKLVD
K\SHUWH[WOLQNWRWKHZLQGRZSURSHUWLHV&OLFNLQJWKLVILHOGZLOOWDNH\RXWRWKH:LQGRZ
3URSHUWLHVGLDORJER[IRUWKHZLQGRZZLWKWKDWSDUWLFXODUKDQGOH7KHVHFRQGLVWKDWLID
PHVVDJHFRQWDLQVDSRLQWHUWRDVWULQJRUDVWUXFWXUHWKH0HVVDJH3URSHUWLHVGLDORJER[
GLVSOD\VWKHDFWXDOWH[WLQWKHFDVHRIDVWULQJRUWKHPHPEHUVDQGWKHLUYDOXHVLQWKHFDVHRI
DVWUXFWXUH
&OLFNLQJ0HVVDJHV
6WRS/RJJLQJZLOOVWRS6S\IURPGLVSOD\LQJPHVVDJHV
8VLQJ6S\WRH[DPLQHD9%DSSOLFDWLRQ 7KHSDUHQWRIDOOZLQGRZVLVWKH'HVNWRSZLQGRZWKLVZLQGRZZLOODOZD\VEHDWWKHWRSRIWKH
KLHUDUFK\%HORZWKDWZLQGRZDUHDOOWKHSDUHQWZLQGRZVZLWKLQHDFKUXQQLQJDSSOLFDWLRQ7R
YLHZWKHZLQGRZLQIRUPDWLRQIRU\RXU9%DSSOLFDWLRQVHDUFKWKURXJKWKHOLVWIRUDQ\SDUHQW
ZLQGRZVFRQWDLQLQJWKHWH[W7KXQGHU57)RUP'&7KHFDSWLRQRI\RXUZLQGRZVKRXOGEHWR
WKHOHIWRI7KXQGHU57)RUP'&HJ&KDSWHU6XEFODVVLQJ([DPSOH
7KXQGHU57)RUP'& 7KXQGHU57)RUP'&LVWKHQDPHRIWKHFODVVIURPZKLFKWKLVIRUP
ZDVFUHDWHG$Q\IRUPWKDW\RXUDSSOLFDWLRQFUHDWHVZLOOEHFUHDWHGIURPWKLVFODVVDQGZLOOEH
FRQVLGHUHGDSDUHQWZLQGRZ7KHQH[WOHYHOEHORZWKHSDUHQWLVWKHFKLOGZLQGRZ&KLOG
ZLQGRZVDUHXVXDOO\FRQWUROVFRQWDLQHGZLWKLQD9%IRUP$Q\9%LQWULQVLFFRQWUROFODVVZLOOEH
SUHSHQGHGZLWKWKHZRUG7KXQGHU57+HQFHDFRPPDQGEXWWRQZRXOGEHFDOOHG
7KXQGHU57&RPPDQG%XWWRQLQ9HUVLRQRI9%&KLOGZLQGRZVFDQEHSDUHQWVWRRWKHUFKLOG
ZLQGRZVDVKDSSHQVZKHQFRQWUROVVXFKDVD3LFWXUH%R[FRQWURO FRQWDLQFRQWUROV(DFK FRQWDLQHUFRQWUROLVWKHSDUHQWWRWKHFKLOGFRQWUROV WKDWLWFRQWDLQV
,I\RXUXQDVLPSOH9%H[HFXWDEOH(;( \RXZLOOQRWLFHWKDWVHYHUDOGLIIHUHQWKLGGHQZLQGRZV
DUHUXQQLQJZLWKLQWKHVDPHSURFHVVDV\RXU(;(7KHVHKLGGHQZLQGRZVDUH9%%XEEOH57
2OH0DLQ7KUHDG:QG&ODVV[9%0VR6WG&RPS0JU7KXQGHU570DLQ
2OH'GH:QG&ODVV[DQG9%)RFXV57
(YHU\9%DSSOLFDWLRQKDVDKLGGHQWRSOHYHOZLQGRZWRZKLFKDOOPHVVDJHVDQGHYHQWVDUH
LQLWLDOO\VHQW7KLVZLQGRZLVGHULYHGIURPWKHFODVVFDOOHG7KXQGHU570DLQ7KLVZLQGRZ
RZQVDOORWKHU9%IRUPVLQWKHDSSOLFDWLRQ
2OH0DLQ7KUHDG:QG1DPHLVDKLGGHQZLQGRZGHULYHGIURPWKH2OH0DLQ7KUHDG:QG&ODVV
[FODVV,WLVFUHDWHGE\&20WRKDQGOHPHVVDJHPDUVKDOLQJEHWZHHQ&20
FRPSRQHQWV
7KH9%0VR6WG&RPS0JUFODVVLVWKHEDVLVIRUVHYHUDOFRQWUROVGHYHORSHGIRU0LFURVRIW2IILFH
)RUH[DPSOHWKH0LFURVRIW2IILFHGHYHORSPHQWWHDPFUHDWHGWKHGHIDXOWWRROEDUWKDWDOO
ZLQGRZVQRZXVH7KHOHWWHUV0VRFRQWDLQHGLQ9%0VR6WG&RPS0JUVWDQGIRU0LFURVRIW
2IILFH:KLOHUXQQLQJDQDSSOLFDWLRQLQWKH9%,'(WKLVFODVVZLOOGURSWKH9%LQLWVQDPHDQG
EHGLVSOD\HGDV0VR6WG&RPS0JULQVWHDG
7KHZLQGRZFUHDWHGIURPWKH9%)RFXV57FODVVLVDQLQYLVLEOHSUR[\IRUPIRUZLQGRZOHVVRU
OLJKWZHLJKWFRQWUROV7KLVSUR[\IRUPLVXVHGWRUHFHLYHNH\ERDUGPRXVHDQGV\VWHP
PHVVDJHVIRUWKHVHFRQWUROV
$OO9%IRUPDQGFRQWUROFODVVHVDUHVXSHUFODVVHVRIWKH9%%XEEOH57FODVVZKLFKLVDOVRD
VXSHUFODVVRIWKH7KXQGHU570DLQFODVV7KH9%%XEEOH57FODVVLVUHVSRQVLEOHIRU
IRUZDUGLQJPHVVDJHVWRWKHDSSURSULDWHZLQGRZ
,I\RXEULQJXSD9%DSSOLFDWLRQ(;( LQ6S\\RXPLJKWQRWLFHWKDWDOOZLQGRZVEHJLQQLQJ
ZLWKWKHZRUG7KXQGHU57KDYHWKHVDPHZLQGRZSURFHGXUHDQGFODVVZLQGRZSURFHGXUH H[FHSWIRU7KXQGHU570DLQ7RVHHWKLVORRNDWWKH:LQGRZ3URFILHOGLQWKH*HQHUDODQG
&ODVVWDEVRIWKH:LQGRZ3URSHUWLHVGLDORJER[7KHUHDVRQDOOZLQGRZSURFHGXUHVXVHWKH
VDPHIXQFWLRQSRLQWHULVWKDWDOOFODVVHVEHJLQQLQJZLWKWKHZRUG7KXQGHU57H[FHSWIRU
7KXQGHU570DLQDUHGHULYHGIURPWKHVDPHEDVHFODVV9%%XEEOH57,QRWKHUZRUGV
7KXQGHU57&RPPDQG%XWWRQ7KXQGHU57)RUP'&HWFDUHDOOVXSHUFODVVHVRIWKHEDVH
FODVV9%%XEEOH572WKHUWKLUGSDUW\FRQWUROVZLOOKDYHGLIIHUHQWZLQGRZSURFHGXUHV
EHFDXVHWKHVHFRQWUROVZHUHFUHDWHGIURPGLIIHUHQWZLQGRZFODVVHV
$QRWKHULQWHUHVWLQJWKLQJWRQRWLFHLVWKHFRQVWUXFWLRQRIWKH7KXQGHU57&RPER%R[FRQWURO
:KHQYLHZLQJDFRQWUROFUHDWHGIURPWKLVFODVV\RXFDQGULOOGRZQRQHOHYHOGHHSHUWR
GLVFRYHUDVWDQGDUG:LQGRZVHGLWFRQWURO7KLVLVQRWD9%FRQWUROEHFDXVHWKHFODVVQDPHLV
QRWSUHIL[HGZLWKWKHZRUG7KXQGHU 7KLVVKRZVWKDWD7KXQGHU57&RPER%R[FRQWURO
FRQVLVWVRID9%GHILQHGFRPERER[DQGDVWDQGDUG:LQGRZVHGLWFRQWURO7KLVLQIRUPDWLRQ
ZLOOFRPHLQKDQG\LI\RXHYHUQHHGWRVXEFODVVD9%FRPERER[
,I\RXGRXEOHFOLFNDZLQGRZLQWKHKLHUDUFK\6S\RSHQVWKH:LQGRZ3URSHUWLHVGLDORJ
ZKLFKFRQWDLQVLQIRUPDWLRQDERXWWKDWSDUWLFXODUZLQGRZ7KHUHDUHILYHWDEVLQWKLVGLDORJER[
*HQHUDO6W\OHV:LQGRZV&ODVVDQG3URFHVV7KH*HQHUDOWDEKDVVHYHUDOLWHPVRILQWHUHVW
7KH:LQGRZ&DSWLRQGLVSOD\VWKHFDSWLRQRIDIRUPRUEXWWRQ6RPHZLQGRZVVXFKDVWKH
WH[WER[FRQWUROGRQRWKDYHFDSWLRQV7KH:LQGRZ+DQGOHLVWKHXQLTXHV\VWHPZLGHKDQGOH
RIWKHVHOHFWHGZLQGRZ7KLVYDOXHLVDOZD\VSDVVHGRQWRWKHZLQGRZ VZLQGRZSURFHGXUHWR
LGHQWLI\ZKLFKZLQGRZWKHPHVVDJHZDVGLUHFWHGWR:KHQZDWFKLQJPHVVDJHVZLWK6S\LW
LVVRPHWLPHVKHOSIXOHVSHFLDOO\ZKHQGHEXJJLQJWRPDWFKXSWKHZLQGRZKDQGOHLQWKH
PHVVDJHWRDQDFWXDOZLQGRZ7KLVZLOOVKRZ\RXZKLFKZLQGRZLVUHFHLYLQJWKHPHVVDJH
7KH:LQGRZ3URFLVDQRWKHUYHU\YDOXDEOHILHOGRQWKLVWDEWKLVLVWKHILHOGZHFKDQJHWR
VXEFODVVDZLQGRZ'RQRWFRQIXVHLWZLWKWKHFODVVZLQGRZSURFHGXUHZKLFKLVFRQWDLQHG
RQO\ZLWKLQWKHFODVVDQGQRWWKHZLQGRZLQVWDQFH%HIRUHVXEFODVVLQJDZLQGRZFKHFNRXW
WKHYDOXHRILWV:LQGRZ3URF$IWHUVXEFODVVLQJDZLQGRZUHFKHFNWKLVYDOXHGRQ WIRUJHWWR
KLW)WRUHIUHVKWKHYLHZ
SURFHGXUHZHGHILQHGLQRXUFRGH%$6 PRGXOH$IWHUUHPRYLQJWKHVXEFODVVFKHFNWKLV YDOXHDJDLQDQGQRWLFHWKDWLWKDVEHHQUHWXUQHGWRLWVRULJLQDOQXPEHU
7KH6W\OHVWDEKDVWZROLVWER[HVRQHFRQWDLQLQJ:LQGRZ6W\OHVDQGWKHRWKHUFRQWDLQLQJ
([WHQGHG6W\OHV7KHVHVW\OHVKDYHDQLQGLUHFWHIIHFWRQWKHPHVVDJHVWKDWDZLQGRZVHQGV
DQGUHFHLYHVIRUGHWDLOVVHHWKHGRFXPHQWDWLRQRQWKH06'1&'5207KH:LQGRZVWDE
FRQWDLQVWKHZLQGRZKDQGOHVWRWKHVHOHFWHGZLQGRZ VSDUHQWWKHILUVWFKLOGDQGDQ\RZQHU
ZLQGRZVRIWKDWSDUWLFXODUZLQGRZ7KHSDUHQWZLQGRZKDQGOHLVXVHIXOWRGHWHUPLQHWRZKLFK
ZLQGRZDQRWLILFDWLRQPHVVDJHZLOOEHVHQW7KHRZQHUZLQGRZRIDQ\9%DSSOLFDWLRQLVWKH
ZLQGRZFUHDWHGIURPWKH7KXQGHU570DLQFODVV7KHKDQGOHVOLVWHGRQWKLVWDEDUH
K\SHUOLQNVWRWKHZLQGRZVWKDWWKH\UHIHUHQFH&OLFNLQJWKHK\SHUOLQNGLVSOD\VWKHSURSHUWLHVRI
WKDWZLQGRZLQWKH:LQGRZ3URSHUWLHVGLDORJER[
7KH&ODVVWDELVDOVRYHU\XVHIXOIRUGHWHUPLQLQJVXEFODVVLQJLQIRUPDWLRQ7KH&ODVV1DPHLV
WKHQDPHJLYHQWRWKLVFODVVZKHQLWZDVUHJLVWHUHGZLWKWKHV\VWHP7KH&ODVV$WRPLVWKH
XQLTXHELWLQWHJHUYDOXHWKDWLGHQWLILHVWKLVFODVVLWLVUHWXUQHGIURPWKHFDOOWR
5HJLVWHU&ODVV([(YHU\FODVVDOVRKDVVW\OHVVLPLODUWRDZLQGRZVW\OH7KH&'B'%/&/.6
&6B+5('5$:&6B95('5$:DQG&6B6$9(%,76FODVVVW\OHVFDQKDYHDQHIIHFWRQWKH
PHVVDJHVVHQWDQGUHFHLYHGE\DZLQGRZ7KHUHLVRQHPRUHELWRIFULWLFDOLQIRUPDWLRQRQWKLV
WDEWKH:LQGRZ3URFILHOGZKLFKWUDQVODWHVWRWKHZLQGRZSURFHGXUHRIWKHFODVVQRWWKH
ZLQGRZ8VLQJWKLVILHOGZHFDQGHWHUPLQHZKHQDZLQGRZKDVEHHQVXEFODVVHG$OOZHKDYH
WRGRLVVHHZKHWKHUWKH:LQGRZ3URFYDOXHVRQWKH*HQHUDODQG&ODVVWDEVPDWFK,IWKH\
GRWKHZLQGRZKDVQRWEHHQVXEFODVVHG,IWKH\DUHGLIIHUHQWWKHZLQGRZLVVXEFODVVHG
*OREDOVXEFODVVLQJDQGVXSHUFODVVLQJDUHWZRWHFKQLTXHVWKDWZLOOPRGLI\WKHFODVVZLQGRZ
SURFHGXUHGLUHFWO\
7KLVFRPSOHWHVWKHZKLUOZLQGWRXURI6S\,I\RXGRQRWKLQJHOVHIDPLOLDUL]H\RXUVHOIZLWK
WKLVXWLOLW\(YHQLI\RXQHYHUXVHVXEFODVVLQJRUKRRNV\RXFDQVWLOOXVHWKLVXWLOLW\WRGHEXJ
DSSOLFDWLRQPHVVDJHIORZDVZHOODVZDWFKDQGOHDUQKRZDQDSSOLFDWLRQLVVHWXSDQG
RSHUDWHVZLWKLQWKHV\VWHP
1X0HJD6PDUW&KHFN 6PDUW&KHFNGHYHORSHGE\1X0HJDKWWSZZZQXPHJDFRP LVDWRROGHVLJQHGWRKHOS
GHYHORSHUVWUDFNGRZQEXJVDQGFRUUHFWWKHP$VDQDGGLWLRQDOERQXVZLWKWKLVWRRO\RXFDQ
WDNHDORRNXQGHUWKHKRRGRIDFRPSLOHG9%DSSOLFDWLRQDQGZDWFKKRZLWZRUNV7RWHOO\RX
KRZWRXVHLWZRXOGUHTXLUHPRUHWKDQMXVWRQHFKDSWHU,ZLOOOHDYHWKDWVXEMHFWWRWKH
GRFXPHQWDWLRQSURYLGHGZLWKWKHWRRO
6PDUW&KHFNUHDOO\VKLQHVZKHQ\RXUDSSOLFDWLRQWKURZVD*HQHUDO3URWHFWLRQ)DXOW*3) ,I
\RXKDYHHYHUKDGWKHSOHDVXUHRIWUDFNLQJGRZQD*3)LQ9%ZLWKRXWDQ\WRROV\RXZLOO
XQGHUVWDQGZKDW,PHDQ%HFDXVH9%KLGHVPDQ\ORZHUOHYHOV\VWHPRSHUDWLRQVIURPWKH
GHYHORSHULWLVGLIILFXOWWRGHWHUPLQHZK\DSLHFHRIFRGHZLOOSURGXFHD*3)DQGLILWKDSSHQV
DWUDQGRPLQWHUYDOVLWLVQHDUO\LPSRVVLEOHWRILJXUHRXW6PDUW&KHFNJRHVRYHUHDFK
H[HFXWLQJOLQHRIFRGHZLWKDILQHWRRWKHGFRPE7KDWZD\LWLVSRVVLEOHWRVHHDSUREOHP
VXFKDVDVWULQJUHWXUQHGIURPDQ$3,FDOOWKDWLVRYHUZULWLQJLWVERXQGVDQGVHWWLQJXSDWLPH
ERPEWKDWZLOOHYHQWXDOO\EORZXSLQ\RXUIDFH7U\ILQGLQJWKDWSUREOHP\RXUVHOIZLWKRXWDQ\ WRROV
6PDUW&KHFNWUDFNVDOOVRUWVRILWHPVVXFKDV$3,FDOOVEDGFDOOVWRLQWULQVLF9%IXQFWLRQV YDOXHFRHUFLRQSUREOHPVPHVVDJHVPHPRU\OHDNVKRRNVDQGPXFKPRUH:HZLOOEH
SD\LQJFORVHDWWHQWLRQWRWKHKRRNVPHVVDJHVDQG$3,FDOOVWKDW6PDUW&KHFNZLOOEH
ZDWFKLQJWKURXJKRXWWKHERRN
'EJZSURFGOO 7KLVLVDG\QDPLFOLQNOLEUDU\'// WKDW\RXFDQJHWIURPWKH0LFURVRIWZHEVLWHWKDWKHOSV
ZLWKWURXEOHVKRRWLQJ9%DSSOLFDWLRQVWKDWXVHVXEFODVVLQJ$VZHVKDOOVHHODWHUGHEXJJLQJD
9%DSSOLFDWLRQWKDWXVHVWKHVXEFODVVLQJDQGKRRNLQJWHFKQLTXHVGHVFULEHGLQWKLVERRNLV
GLIILFXOWEHFDXVHKDYLQJFLUFXPYHQWHG9% VRZQSURWHFWLYHPHFKDQLVPV\RXFDQQRWJRYHU\
IDUZLWKWKHGHEXJJLQJWRROV9%SURYLGHV'EJZSURFGOOLVDWRROWKDWZKHQ\RXUDSSOLFDWLRQLV
UXQQLQJLQGHEXJPRGHZLOODOORZ\RXWRWUDFHWKURXJK\RXUDSSOLFDWLRQZLWKRXWFUDVKLQJ
FDQILQGWKLVWRRORQWKH0LFURVRIWZHEVLWHDW
KWWSPVGQPLFURVRIWFRPYEDVLFGRZQORDGVFRQWUROVDVS,ZLOOWDONDERXWWKLVWRROLQ&KDSWHU
0LFURVRIW6\VWHP,QIRUPDWLRQ 7KLVXWLOLW\FDQEHUXQXQGHU:LQGRZVE\VHOHFWLQJ6WDUW
6\VWHP7RROV
3URJUDPV
$FFHVVRULHV
6\VWHP,QIRUPDWLRQ6DGO\WKH6\VWHP,QIRUPDWLRQDSSOLFDWLRQSURYLGHGZLWK
:LQGRZV17GRHVQRWVKRZWKLVLQIRUPDWLRQ
)LJXUH'LVSOD\LQJV\VWHPKRRNVLQ0LFURVRIW6\VWHP,QIRUPDWLRQ
7KLVWRROFDQGLVSOD\DOOWKHV\VWHPZLGHKRRNVWKDWDUHFXUUHQWO\LQVWDOOHGLQWKHV\VWHP7R
GRWKLVH[SDQGWKHSDWK6\VWHP,QIRUPDWLRQ
6RIWZDUH(QYLURQPHQW
6\VWHP+RRNV
7KLVZLOOJLYHXVLQVLJKWLQWRDSSOLFDWLRQVWKDWXVHV\VWHPZLGHKRRNVWRGRWKHLUZRUN,QWKH
$SSOLFDWLRQVFROXPQLQ)LJXUH\RXVHHWKUHHHQWULHVIRU63<;;(;(ZKLFKLVWKH6S\
XWLOLW\WKDWZHGLVFXVVHGSUHYLRXVO\:HFDQVHHWKDWLWLQVWDOOVWKUHHV\VWHPZLGHKRRNV
*HW0HVVDJH:LQGRZ3URFHGXUHDQG:LQGRZ3URFHGXUH5HVXOW:HZLOOGLVFXVVV\VWHP
ZLGHKRRNVLQFOXGLQJWKHVHWKUHHW\SHVRIKRRNVWKURXJKRXW3DUW,,,RIWKLVERRN7KLVXWLOLW\
DOVRFDQEHXVHGWRPDNHVXUHWKDWRXUDSSOLFDWLRQVDUHLQVWDOOLQJRXUV\VWHPZLGHKRRNV
FRUUHFWO\8QIRUWXQDWHO\WKLVLVDOOWKHLQIRUPDWLRQDERXWKRRNVWKDWLWFDQJLYHXV
$:RUGRI:DUQLQJ 7KHWHFKQLTXHVSUHVHQWHGLQWKLVERRNPDNHH[WHQVLYHXVHRIWKH:LQ$3,DQGSRLQWHUV$V
\RXNQRZ9%GRHVQRWJLYHXVGLUHFWDFFHVVWRSRLQWHUV,QVWHDGZHPXVWXVH$3,IXQFWLRQV
WRFRQYHUWWKHVHSRLQWHUVLQWRLQIRUPDWLRQWKDW9%FDQXVH
$VZLWKXVLQJSRLQWHUVLQ&ZHPXVWDOVRWDNHFDUHZKHQKDQGOLQJSRLQWHUVLQ9%)DLOLQJWR
GRVRZLOOUHVXOWLQ\RXUDSSOLFDWLRQEHKDYLQJXQSUHGLFWDEO\RUFUDVKLQJ
,QFRUUHFWO\VHWWLQJXSDQGFDOOLQJ:LQ$3,IXQFWLRQVLVDQRWKHUVRXUFHRISUREOHPV7R
IXQFWLRQFRUUHFWO\$3,IXQFWLRQVPXVWQRWRQO\EHGHFODUHGFRUUHFWO\LQ9%EXWDOVRKDYHWKHLU
DUJXPHQWVSDVVHGLQSURSHUO\
,ZLOOQRWEHFRYHULQJLQDQ\JUHDWGHWDLOKRZWRVHWXSDQGFDOO:LQ$3,IXQFWLRQVLQWKLV
ERRN,WLVXSWR\RXWRPDNHVXUHWKH$3,IXQFWLRQVWKDW\RXXVHDUHGHFODUHGDQGXVHG
SURSHUO\)RUPRUHLQIRUPDWLRQRQWKHWRSLFRI:LQ$3,IXQFWLRQV\RXFDQUHDG6WHYHQ
5RPDQ VERRNHQWLWOHG:LQ$3,3URJUDPPLQJ:LWK9LVXDO%DVLFSXEOLVKHGE\2 5HLOO\
$VVRFLDWHV
&KDSWHU:LQGRZV6\VWHP6SHFLILF,QIRUPDWLRQ %HIRUHGHOYLQJLQWRWKHJXWVRIVXEFODVVLQJDQGXVLQJKRRNVZHPXVWILUVWOHDUQKRZWKH
:LQGRZVPHVVDJLQJV\VWHPZRUNV7KLVFKDSWHULVQRWJRLQJWRWHDFK\RXDOOWKHGHWDLOVRI
SURFHVVHVWKUHDGVRUVRPHRIWKHRWKHU:LQGRZVREMHFWVHQFRXQWHUHGZKLOHSURJUDPPLQJ
WKHRSHUDWLQJV\VWHP,QVWHDG,ZLOOFRQFHQWUDWHRQWKHSDUWLFXODUVRIWKH:LQGRZVRSHUDWLQJ
V\VWHPRQO\LQVRIDUDVWKH\DSSO\WRWKHVXEMHFWRIWKLVERRN
8QGHUVWDQGLQJKRZWKH:LQGRZVPHVVDJLQJVXEV\VWHPZRUNVLVDQHFHVVDU\ILUVWVWHS
WRZDUGOHDUQLQJKRZWRFRUUHFWO\GHVLJQDQGLPSOHPHQWVXEFODVVLQJDQGKRRNVWKURXJK9LVXDO
%DVLF9% ,QIDFWWKLVKROGVWUXHIRUXVLQJVXEFODVVLQJRUKRRNVLQDQ\ODQJXDJHEXWLWLV
PRUHLPSRUWDQWLQ9%EHFDXVH9%VKLHOGVWKHGHYHORSHUIURPJRLQJWRRGHHSO\LQWRWKH
:LQGRZVLQWHUQDOV7KLVLVDGRXEOHHGJHGVZRUG2QRQHKDQG9%PDNHVLWYHU\VLPSOHWR
FRQVWUXFWDSSOLFDWLRQVWKDWPLJKWWDNHPXFKPRUHWLPHDQGHIIRUWLQDGLIIHUHQWODQJXDJHVXFK
DV&2QWKHRWKHUKDQGQRWEHLQJDEOHWRHDVLO\JHWLQWLPDWHZLWKWKHORZHUOHYHOVRIWKH
:LQGRZVRSHUDWLQJV\VWHPPDNHVWKHWDVNRIGHEXJJLQJDQGLPSOHPHQWLQJDGYDQFHG
IXQFWLRQDOLW\LQWRRXUDSSOLFDWLRQVPRUHGLIILFXOW.QRZOHGJHRIZKDWLVKDSSHQLQJLQWKH
V\VWHPZKHUHLWLVKDSSHQLQJDQGZK\LWLVKDSSHQLQJLVHVVHQWLDOWRFRQVWUXFWLQJDQG
GHEXJJLQJ\RXUDSSOLFDWLRQV
7LQNHULQJZLWKWKH:LQGRZVPHVVDJLQJV\VWHPLVQHLWKHUVWUDLJKWIRUZDUGQRUHDV\2QHZURQJ
OLQHRIFRGHRQHPLVSODFHGSRLQWHUHYHQH[LWLQJ\RXUDSSOLFDWLRQHDUO\FRXOGHDVLO\EULQJ
GRZQWKHHQWLUHV\VWHP&UHDWLQJLQYDOLGSDJHIDXOWVDVZHOODVIUHH]LQJDQDSSOLFDWLRQRU\RXU
HQWLUHV\VWHPLVHDV\WRGRZKHQDGGLQJVXEFODVVLQJDQGRUKRRNVWRDQDSSOLFDWLRQ7KLVLV
WKHPDLQUHDVRQZK\VRPHGHYHORSHUVVK\DZD\IURPXVLQJWKHVHWRROVDQGVRPHWLPHVHYHQ
GRZQSOD\WKHLUXVHIXOQHVV$UPHGZLWKWKHLQIRUPDWLRQLQWKLVERRN\RXZLOOEHDEOHWR
FRQVLVWHQWO\XVHWKHVHWRROVWRDGGDGYDQFHGIXQFWLRQDOLW\WR\RXUDSSOLFDWLRQVZLWKD
PLQLPXPRISDLQDQGFRQIXVLRQ
:LWKWKDWVDLGWKLVFKDSWHUZLOOIRFXVPDLQO\RQH[SODLQLQJWKHXQGHUO\LQJ:LQGRZVPHVVDJLQJ
V\VWHPZKDWLVLWKRZLWZRUNVDVZHOODVZKDWPDNHVXSDPHVVDJHDQGKRZWRLQWHUSUHWLW
7KLVZLOOJLYH\RXWKHGHYHORSHUDVROLGIRXQGDWLRQRQZKLFKWREXLOGWKURXJKRXWWKHUHVWRI
WKHFKDSWHUV
,QVLGHD:LQGRZV$SSOLFDWLRQ 7KLVVHFWLRQIRFXVHVRQWKHDUHDVWKDWDUHRIJUHDWHVWLQWHUHVWWRXVLQXVLQJVXEFODVVLQJDQG
KRRNVHIIHFWLYHO\,I\RXDUHLQWHUHVWHGLQOHDUQLQJPRUHDERXWWKHVHVXEMHFWVSLFNXSDFRS\
RI:LQ$3,3URJUDPPLQJZLWK9LVXDO%DVLFE\6WHYHQ5RPDQ+HJLYHVWKHVHWRSLFVDYHU\
WKRURXJKH[SODQDWLRQ
:LQGRZ5HODWLRQVKLSV $OOZLQGRZVDUHUHODWHGLQVRPHZD\WRRQHRUPRUHRWKHUZLQGRZV7KHPRVWFRPPRQW\SH
RIZLQGRZUHODWLRQVKLSLVWKHSDUHQWFKLOGUHODWLRQVKLS2WKHUW\SHVRIUHODWLRQVKLSVLQFOXGH
RZQHURZQHGDQGWRSOHYHOZLQGRZV$OWKRXJKLQIRUPDWLRQRQWKHUHODWLRQVKLSRIRQHZLQGRZ
WRDQRWKHULVQRWDUHTXLUHPHQWWRXQGHUVWDQGLQJVXEFODVVLQJRUKRRNVLWLVYHU\KHOSIXO7KLV
LQIRUPDWLRQZLOOFRPHLQWRSOD\PRUHDV,GLVFXVVVXEFODVVLQJWKHFRPPRQGLDORJER[HVDQG
DV,JHWLQWRWKHVSHFLILFVRIKRRNVVXFKDVWKH:+B6+(//KRRN)RUH[DPSOHWKH
:+B6+(//KRRNRQO\SURYLGHVLQIRUPDWLRQRQWRSOHYHOXQRZQHGZLQGRZV
&HQWUDOWRGHILQLQJWKHUHODWLRQVKLSDPRQJZLQGRZVLVWKHFRQFHSWRI=RUGHU:KHQZLQGRZV
DUHGUDZQRQWKHVFUHHQRQO\RQHZLQGRZFDQEHDFWLYHDWDQ\WLPH7KLVDFWLYHZLQGRZ
UHFHLYHVXVHULQSXWWKURXJKWKHPRXVHDQGNH\ERDUG7KLVZLQGRZDOVRRYHUODSVDOORWKHU
GLVSOD\HGZLQGRZVRQWKHVFUHHQ7KHZLQGRZVEHORZWKHDFWLYHZLQGRZDUHVWDFNHGRQHRQ
WRSRIWKHRWKHUWKLVLVLOOXVWUDWHGLQ)LJXUH
EHLQJVLPLODUWRDVWDFNRISDSHU7KHSLHFHRISDSHURQWKHWRSRIWKHVWDFNLVWKHWRSPRVW
SLHFHRISDSHU7KHQH[WSLHFHRISDSHULVORFDWHGEHORZWKHWRSPRVWSLHFHWKHWKLUGSLHFH
GRZQLVORFDWHGEHORZWKHVHFRQGRQHDQGVRRQDQGVRIRUWK )LJXUH7KHZLQGRZ=RUGHU
$=RUGHUGHILQHVZKHUHDZLQGRZLVFXUUHQWO\DWLQWKHVWDFNRIZLQGRZV0DNLQJDZLQGRZ
WKHDFWLYHZLQGRZZLOOSODFHLWDWWKHWRSRIWKH=RUGHU8VLQJWKH=RUGHUZHFDQGHWHUPLQH
ZKLFKZLQGRZZLOOEHJLYHQWKHIRFXVZKHQWKHFXUUHQWZLQGRZLVPLQLPL]HG7KHZLQGRZ
JLYHQWKHIRFXVZLOOEHWKHQH[WZLQGRZGRZQVWDUWLQJIURPWKHWRSRIWKH=RUGHU
7KH=RUGHUDOVRGHVFULEHVWKHRUGHULQJRIFRQWUROVZLWKLQDZLQGRZ,IWZRFRQWUROVRYHUODS
DQGWKHILUVWLVKLJKHURQWKH=RUGHUWKDQWKHVHFRQGWKHILUVWFRQWUROLVGUDZQRQWRSRIWKH VHFRQGFRQWURO
7KH=RUGHUFDQEHPDQLSXODWHGWKURXJKWKH6HW:LQGRZ3RVDSSOLFDWLRQSURJUDPPLQJ
LQWHUIDFH$3, IXQFWLRQ7KLVLVWKH9%GHFODUDWLRQIRUWKLVIXQFWLRQ
3XEOLF'HFODUH)XQFWLRQ6HW:LQGRZ3RV/LEXVHU$OLDV6HW:LQGRZ3RVB
%\9DOKZQG$V/RQJ%\9DOK:QG,QVHUW$IWHU$V/RQJB
%\9DOF\$V/RQJ%\9DOZ)ODJV$V/RQJ $V/RQJ
%\9DO[$V/RQJ%\9DO\$V/RQJ%\9DOF[$V/RQJB
'HILQLWLRQVRIWKLVIXQFWLRQ VSDUDPHWHUVDUH
KZQG
7KHKDQGOHRIWKHZLQGRZEHLQJPRGLILHG
K:QG,QVHUW$IWHU
7KHKDQGOHRIWKHZLQGRZWKDWFRPHVEHIRUHWKLVZLQGRZLQWKH=RUGHU7KLV
DUJXPHQWDOVRFDQWDNHWKHIROORZLQJFRQVWDQWV HWND_BOTTOM (1) 3ODFHVWKHZLQGRZDWWKHERWWRPRIWKH=RUGHU HWND_NOTOPMOST (-2)
)RUWRSPRVWZLQGRZVSODFHVWKHZLQGRZDERYHDOOQRQWRSPRVWZLQGRZVWKDWLV
EHKLQGDOOWRSPRVWZLQGRZV )RUQRQWRSPRVWZLQGRZVWKHIODJKDVQRHIIHFW HWND_TOP (0) 3ODFHVWKHZLQGRZDWWKHWRSRIWKH=RUGHU HWND_TOPMOST (-1)
3ODFHVWKHZLQGRZDERYHDOOQRQWRSPRVWZLQGRZVDQGPDLQWDLQVWKHZLQGRZ V
WRSPRVWSRVLWLRQHYHQLILWORVHVWKHIRFXVDQRSWLRQW\SLFDOO\LQGLFDWHGRQPHQXVDV
[ \ F[ F\ Z)ODJV
DOZD\VRQWRS
(TXLYDOHQWWRWKH/HIWSURSHUW\LQ9% (TXLYDOHQWWRWKH7RSSURSHUW\LQ9% (TXLYDOHQWWRWKH:LGWKSURSHUW\LQ9% (TXLYDOHQWWRWKH+HLJKWSURSHUW\LQ9% )ODJVWKDWVSHFLI\WKHVL]LQJDQGSRVLWLRQLQJDWWULEXWHV,IPXOWLSOHIODJVDUHSUHVHQW
WKH\FDQEHORJLFDOO\2UHGWRJHWKHU6RPHRIWKHSRVVLEOHIODJVDUH SWP_DRAWFRAME (32) 'UDZVDIUDPHDURXQGWKHZLQGRZ SWP_HIDEWINDOW (128) +LGHVWKHZLQGRZ SWP_NOACTIVATE (16)
'RHVQRWDFWLYDWHWKHZLQGRZ2WKHUZLVH6HW:LQGRZ3RVE\GHIDXOWDFWLYDWHVWKH
ZLQGRZ SWP_NOMOVE (2)
5HWDLQVWKHZLQGRZ VFXUUHQWSRVLWLRQLHLJQRUHVWKH[DQG\SDUDPHWHUV SWP_NOOWNERZORDER (512) /HDYHVWKHRZQHUZLQGRZ VSRVLWLRQLQWKH=RUGHUXQFKDQJHG SWP_NOREPOSITION (512) 7KHVDPHDVWKH6:3B122:1(5=25'(5IODJ SWP_NOSIZE (1)
5HWDLQVWKHFXUUHQWZLQGRZVL]HLJQRUHVWKHF[DQGF\SDUDPHWHUV SWP_NOZORDER (4)
5HWDLQVWKHFXUUHQW=RUGHULJQRUHVWKHK:QG,QVHUW$IWHUSDUDPHWHU
SWP_SHOWWINDOW (64)
'LVSOD\VWKHZLQGRZ
7KLVIXQFWLRQLVVXFFHVVIXOZKHQWKHUHWXUQYDOXHLVQRQ]HUR
DOZD\VRQWRSLQ9%XVLQJWKH6HW:LQGRZ3RVIXQFWLRQDVWKLVFRGHLOOXVWUDWHV
6HW7RS0RVW:LQGRZ 6HW:LQGRZ3RV)RUPKZQG+:1'B7230267B
6:3B12029(256:3B126,=(
:KHQWKH:LQGRZVRSHUDWLQJV\VWHPLVVWDUWHGDGHVNWRSZLQGRZLVFUHDWHG7KLVLVD
VSHFLDOZLQGRZRQZKLFKDOORWKHUZLQGRZVDUHGUDZQ7KLVZLQGRZLVDOVRDWWKHWRSRIWKH
ZLQGRZKLHUDUFK\7KLVZLQGRZLVWKHSDUHQWWRDOORWKHUWRSOHYHOZLQGRZVLQWKHV\VWHP
$SDUHQWZLQGRZFDQKDYHRQHRUPRUHZLQGRZVDVLWVFKLOGUHQ7KHVHFKLOGZLQGRZVDUH
FRQWDLQHGZLWKLQWKHLUSDUHQWZLQGRZWKDWLVWRVD\WKHFKLOGZLQGRZVDUHGUDZQZLWKLQWKH
FOLHQWDUHDRIWKHSDUHQW$FRPPRQH[DPSOHRIDFKLOGZLQGRZLVDFRQWUROWKDWLVSODFHGRQD
IRUP7KHFRQWUROLVWKHFKLOGZLQGRZDQGWKHIRUPLVLWVSDUHQW
,WLVSRVVLEOHIRUDFKLOGZLQGRZWRKDYHFKLOGZLQGRZVRILWVRZQ$9%SLFWXUHER[FRQWURO
FRXOGKDYHVHYHUDOEXWWRQFRQWUROVDVLWVFKLOGZLQGRZVIRUH[DPSOH7KHVHEXWWRQVZRXOGEH
GUDZQZLWKLQWKHERXQGVRIWKHSLFWXUHER[$Q\EXWWRQRUSDUWRIDEXWWRQORFDWHGRXWVLGHRI
WKHSLFWXUHER[ZRXOGQRWEHGUDZQWKHERWWRPZRXOGEHFOLSSHG 7KHEXWWRQFKLOGFRQWUROV
ZRXOGFRQVLGHUWKHSLFWXUHER[FRQWUROWKHLUSDUHQWZLQGRZHYHQWKRXJKWKHSLFWXUHER[
FRQWUROLVLWVHOIDFKLOGRIDIRUP&KLOGZLQGRZVKDYHWKHVHDWWULEXWHV • • • •
7KH\PXVWKDYHDVLQJOHSDUHQWZLQGRZ
7KH\DUHGUDZQUHODWLYHWRWKHXSSHUOHIWSRLQWLQWKHSDUHQW VFOLHQWDUHD
7KH\FDQQRWKDYHDPHQX
$Q\SRUWLRQRIWKHFKLOGZLQGRZRXWVLGHRIWKHSDUHQW VFOLHQWDUHDLVKLGGHQRU
FOLSSHG
3DUHQWZLQGRZVKDYHWKHVHDWWULEXWHV • • • •
7KH\FDQKDYHPDQ\FKLOGZLQGRZV 7KH\FDQKDYHDPHQX
7KH\FDQEHWRSOHYHOZLQGRZV
:KHQDSDUHQWZLQGRZLVVKRZQGHVWUR\HGPRYHGRUKLGGHQWKHVDPHKDSSHQVWR
WKHFKLOGZLQGRZ
$WRSOHYHOZLQGRZLVDZLQGRZWKDWKDVWKHGHVNWRSZLQGRZDVLWVSDUHQWZLQGRZ(YHU\
ZLQGRZKDVDKDQGOHWRLWVSDUHQWZLQGRZ7RSOHYHOZLQGRZVPXVWKDYHWKHGHVNWRSZLQGRZ
KDQGOHDVWKHLUSDUHQWZLQGRZKDQGOH1RWHWKDWDSDUHQWZLQGRZFDQEHFRQVLGHUHGDWRS
OHYHOZLQGRZEXWDFKLOGZLQGRZFDQQRW7RSOHYHOZLQGRZVKDYHWKHVHDWWULEXWHV • •
2QO\RQHWRSOHYHOZLQGRZFDQEHDFWLYHDWDQ\RQHWLPH
$QDSSOLFDWLRQFDQKDYHPRUHWKDQRQHWRSOHYHOZLQGRZ
•
:KHQWKHXVHUPDQLSXODWHVDFKLOGZLQGRZSRVVLEO\DFRQWURO WKHWRSOHYHOZLQGRZ
DVVRFLDWHGZLWKWKHFKLOGZLQGRZLWVSDUHQW LVDFWLYDWHG
7KHODVWZLQGRZUHODWLRQVKLS,ZLOOGLVFXVVLVWKHRZQHURZQHGUHODWLRQVKLS2QO\WRSOHYHO
ZLQGRZVFDQEHRZQHGE\RUEHRZQHUVRIRWKHUWRSOHYHOZLQGRZV2ZQHGZLQGRZVKDYH
WKHVHDWWULEXWHV • • • •
2ZQHGZLQGRZVDUHDOZD\VKLJKHULQWKH=RUGHUWKDQWKHLURZQHUV 2ZQHGZLQGRZVDUHKLGGHQZKHQWKHLURZQHUVDUHKLGGHQ
2ZQHGZLQGRZVDUHQRWKLGGHQZKHQWKHLURZQHUVDUHPLQLPL]HG
2QO\WRSOHYHOZLQGRZVFDQEHRZQHUZLQGRZV
:KDW$UH$OO7KHVH+DQGOHV)RU" $OOREMHFWVKDYHDKDQGOH$KDQGOHLVVLPSO\DORQJGDWDW\SHWKDWFRQWDLQVDQXPEHU
LGHQWLI\LQJDQREMHFW7RXVHDQREMHFWLQWKH:LQGRZVRSHUDWLQJV\VWHP\RXILUVWQHHGWRJHW
LWVKDQGOH
+DQGOHVDUHYLWDOWRXVLQJVXEFODVVLQJDQGKRRNV:KHQVXEFODVVLQJDZLQGRZWKHKDQGOHWR
WKDWZLQGRZPXVWILUVWEHREWDLQHG7KHK:QGSURSHUW\LQ9%PDNHVWKLVWDVNDWULYLDORQH
7KLVKDQGOHLVWKHQVHQWWRD:LQ$3,IXQFWLRQFDOOHG6HW:LQGRZ/RQJ3WUWRLQLWLDWHDVZHOO
DVWRUHPRYHWKHVXEFODVVLQJ6HW:LQGRZ/RQJ3WULVGHVFULEHGLQPRUHGHWDLOLQ&KDSWHU +DQGOHVDUHDOVRYLWDOWRXVLQJKRRNV$OOKRRNVZKHQLQVWDOOHGDUHLGHQWLILHGE\DKRRN
KDQGOH2QHRIWKHPRUHLPSRUWDQWXVHVIRUWKLVKDQGOHLVWRUHPRYHWKHKRRNIDLOLQJWR
UHPRYHDKRRNEHIRUHWKHDSSOLFDWLRQVWRSVFUHDWHVDQDVW\SUREOHP$VSHFLDOW\SHRIKRRN
FDOOHGDV\VWHPZLGHKRRNXVHVDPRGXOHKDQGOHWRLGHQWLI\WKHG\QDPLFOLQNOLEUDU\'//
PRGXOHWKDWKDVLQVWDOOHGWKHKRRN6\VWHPZLGHKRRNVDQGWKHLUXVDJHDUHDFRPSOH[WRSLF
DQGPRUHGLVFXVVLRQLVGHYRWHGWRLWLQ&KDSWHU
,Q9%IRUPVDQGPDQ\FRQWUROVKDYHDQK:QGSURSHUW\WKDWFRQWDLQVWKHZLQGRZKDQGOH
$OVRVHYHUDOGLIIHUHQW$3,IXQFWLRQVFDQEHFDOOHGIURP9%WRJHWKDQGOHVWRYDULRXVRWKHU
REMHFWV)RURXUSXUSRVHVZHZLOOEHXVLQJWKUHHPDLQKDQGOHV7KH\DUHWKHZLQGRZKDQGOH
K:QG WKHPRGXOHKDQGOHK0RGXOHRUK,QVWDQFH DQGWKHKRRNKDQGOHK+RRN 7KH\DUH
GHVFULEHGQH[W K:QG
7KHV\VWHPDVVLJQVDQK:QGWRHDFKZLQGRZXSRQFUHDWLRQ(YHU\ZLQGRZLQWKHV\VWHPKDV
LWVRZQXQLTXHZLQGRZKDQGOH7KLVKDQGOHLVXQLTXHHYHQDFURVVSURFHVVHV$PHVVDJH
XVHVWKLVZLQGRZKDQGOHWRILQGLWVZD\WRWKHGHVWLQDWLRQZLQGRZWRZKLFKWKHPHVVDJHZDV
GLUHFWHG7RLOOXVWUDWHZKHQDPRXVHLVFOLFNHGRYHUDEXWWRQWKHPRXVHFOLFNHYHQWLV FRQYHUWHGLQWRDPHVVDJHDQGWKHK:QGRIWKHEXWWRQLVLQFOXGHGZLWKLQWKHPHVVDJH
VWUXFWXUH7KLVPHVVDJHSDVVHVWKURXJKWKH:LQGRZVPHVVDJLQJV\VWHPDQGDUULYHVDWWKH
ZLQGRZWRZKLFKWKHHYHQWZDVILUVWGLUHFWHG
$ZLQGRZKDQGOHFDQEHUHWULHYHGLQ9%E\XVLQJWKHIRUPRUFRQWURO VK:QGSURSHUW\
DOVRFDQXVHVHYHUDO:LQGRZV$3,IXQFWLRQVWRREWDLQDQK:QG7KH)LQG:LQGRZ$3,
IXQFWLRQLVXVHGWRILQGDWRSOHYHOZLQGRZKDQGOHJLYHQDVSHFLILFFODVVQDPHDQGZLQGRZ
QDPH7KH)LQG:LQGRZIXQFWLRQLVGHFODUHGLQ9%DVIROORZV
3XEOLF'HFODUH)XQFWLRQ)LQG:LQGRZ/LEXVHU$OLDV)LQG:LQGRZ$B
/RQJ
%\9DOOS&ODVV1DPH$V6WULQJ%\9DOOS:LQGRZ1DPH$V6WULQJ $V
7KHIXQFWLRQ VSDUDPHWHUVDUH OS&ODVV1DPH
$VWULQJWKDWFRQWDLQVWKHZLQGRZFODVVQDPHRIWKHZLQGRZEHLQJVHDUFKHGIRU
OS:LQGRZ1DPH
$VWULQJWKDWFRQWDLQVWKHZLQGRZQDPHRIWKHZLQGRZEHLQJVHDUFKHGIRU
7KLVIXQFWLRQUHWXUQVWKHK:QGRIWKHILUVWWRSOHYHOZLQGRZWKDWPDWFKHVWKHFULWHULD$]HURLV
UHWXUQHGLIWKLVIXQFWLRQILQGVQRZLQGRZVPDWFKLQJWKHVSHFLILHGFULWHULD,IPRUHWKDQRQH
ZLQGRZLVIRXQGWKHZLQGRZKLJKHVWLQWKH=RUGHULVUHWXUQHG
7RREWDLQWKHKDQGOHWRWKHGHVNWRSZLQGRZWKH*HW'HVNWRS:LQGRZ$3,IXQFWLRQLVXVHG
7KLVIXQFWLRQLVGHFODUHGLQ9%DVIROORZV
3XEOLF'HFODUH)XQFWLRQ*HW'HVNWRS:LQGRZ/LEXVHUB
$OLDV*HW'HVNWRS:LQGRZ $V/RQJ
7KLVIXQFWLRQWDNHVQRDUJXPHQWVDQGUHWXUQVWKHGHVNWRSZLQGRZKDQGOH
$QRWKHUXVHIXOIXQFWLRQWRREWDLQDQKZQGLVWKH*HW:LQGRZ$3,IXQFWLRQ7KLVIXQFWLRQLV
GHFODUHGLQ9%DVIROORZV
3XEOLF'HFODUH)XQFWLRQ*HW:LQGRZ/LEXVHU$OLDV*HW:LQGRZB
,WVSDUDPHWHUVDUH KZQG
Z&PG
%\9DOKZQG$V/RQJ%\9DOZ&PG$V/RQJ $V/RQJ
7KHKDQGOHRIDZLQGRZXVHGDVDVWDUWLQJSRLQW 'HILQHVWKHUHODWLRQVKLSEHWZHHQWKHZLQGRZSURYLGHGE\WKHKZQGDUJXPHQWDQGWKH
ZLQGRZKDQGOHWREHUHWXUQHGE\WKLVIXQFWLRQ
$ZLQGRZKDQGOHLVUHWXUQHGEDVHGRQLWVUHODWLRQVKLSZLWKWKHZLQGRZSURYLGHGLQWKHKZQG
DUJXPHQW7KHUHODWLRQVKLSLVGHWHUPLQHGE\WKHZ&PGFRQVWDQWLIQRZLQGRZPHHWVWKH
FULWHULDGHILQHGE\Z&PGWKHIXQFWLRQUHWXUQVHLWKHURUKZQG7KHZ&PGDUJXPHQWFDQ
FRQWDLQDQ\RIWKHIROORZLQJYDOXHV GW_CHILD (5)
7KHUHWXUQHGZLQGRZKDQGOHLVWKHILUVWFKLOGZLQGRZIRXQGLQWKH=RUGHU GW_ENABLEDPOPUP (6)
7KHUHWXUQHGZLQGRZKDQGOHLVDSRSXSZLQGRZRZQHGE\WKHZLQGRZUHSUHVHQWHG
E\WKHKZQGDUJXPHQW)RU:LQGRZVRQO\ GW_HWNDFIRST (0)
7KHUHWXUQHGZLQGRZKDQGOHLVWKHILUVWLQWKH=RUGHUZLWKWKHVDPHZLQGRZW\SH
WRSPRVWWRSOHYHORUFKLOG DVWKHZLQGRZUHSUHVHQWHGE\WKHKZQGDUJXPHQW GW_HWNDLAST (1)
7KHUHWXUQHGZLQGRZKDQGOHLVWKHODVWLQWKH=RUGHUZLWKWKHVDPHZLQGRZW\SH
WRSPRVWWRSOHYHORUFKLOG DVWKHZLQGRZUHSUHVHQWHGE\WKHKZQGDUJXPHQW GW_HWNDNEXT (2) 7KHUHWXUQHGZLQGRZKDQGOHLVQH[WLQWKH=RUGHUZLWKWKHVDPHZLQGRZW\SH
WRSPRVWWRSOHYHORUFKLOG DVWKHZLQGRZUHSUHVHQWHGE\WKHKZQGDUJXPHQW GW_HWNDPREV (3)
7KHUHWXUQHGZLQGRZKDQGOHLVSUHYLRXVLQWKH=RUGHUZLWKWKHVDPHZLQGRZW\SH
WRSPRVWWRSOHYHORUFKLOG DVWKHZLQGRZUHSUHVHQWHGE\WKHKZQGDUJXPHQW GW_OWNER (4)
7KHUHWXUQHGZLQGRZKDQGOHLVWKHRZQHURIWKHZLQGRZUHSUHVHQWHGE\WKHKZQG
DUJXPHQW
%\ILUVWXVLQJWKH*HW'HVNWRS:LQGRZRU)LQG:LQGRZIXQFWLRQ\RXFDQREWDLQDKDQGOHWKDW
FDQEHXVHGE\WKH*HW:LQGRZIXQFWLRQWRILQGDUHODWHGZLQGRZ K,QVWDQFH
$QK,QVWDQFHLVDKDQGOHWRDVSHFLILFUXQQLQJLQVWDQFHRI\RXUDSSOLFDWLRQ(YHU\DSSOLFDWLRQ
KDVDQLQVWDQFHKDQGOHZKLFKLVSURYLGHGE\WKHV\VWHP,IDQDSSOLFDWLRQLVUXQQLQJPRUH
WKDQRQFHRQWKHVDPHV\VWHPWKHLQVWDQFHKDQGOHWRHDFKDSSOLFDWLRQZLOOEHGLIIHUHQWWR
GLVWLQJXLVKRQHLQVWDQFHIURPDOORWKHULQVWDQFHV7KLVKDQGOHLVSDVVHGLQWRWKHZLQGRZFODVV
VWUXFWXUHGXULQJFUHDWLRQRIDZLQGRZWRWUDFNZKLFKPRGXOHFUHDWHGDQGUHJLVWHUHGDZLQGRZ
$OVRZKHQD'//LVOLQNHGWRWKHDSSOLFDWLRQDWUXQWLPHLWUHFHLYHVDQLQVWDQFHKDQGOHIURP
WKHV\VWHP
7RREWDLQWKHLQVWDQFHKDQGOHRID9%DSSOLFDWLRQXVHWKH$SSK,QVWDQFHSURSHUW\
FDQXVHWKH*HW:LQGRZ/RQJ$3,IXQFWLRQWRUHWULHYHWKHLQVWDQFHKDQGOHRIDQ\9%RUQRQ
9%DSSOLFDWLRQ$OOWKDWLVQHHGHGIRUWKLVIXQFWLRQLVDZLQGRZKDQGOHEHORQJLQJWRWKH
DSSOLFDWLRQZKRVHLQVWDQFHKDQGOH\RXQHHG7KH*HW:LQGRZ/RQJIXQFWLRQLVGHFODUHGLQ9%
DVIROORZV
3XEOLF'HFODUH)XQFWLRQ*HW:LQGRZ/RQJ/LEXVHUB
,WVSDUDPHWHUVDUH KZQG
Q,QGH[
$OLDV*HW:LQGRZ/RQJ$B
%\9DOKZQG$V/RQJ%\9DOQ,QGH[$V/RQJ $V/RQJ
$ZLQGRZKDQGOH
$FRQVWDQWWKDWGHWHUPLQHVWKHW\SHRIYDOXHWKDWWKLVIXQFWLRQZLOOUHWXUQ7KH
*:/B+,167$1&(FRQVWDQWRU PXVWEHSURYLGHGWRWKHQ,QGH[SDUDPHWHUWR
UHWXUQWKHDSSOLFDWLRQ VLQVWDQFHKDQGOH
7KHIROORZLQJFRGHIUDJPHQWXVHVWKLVIXQFWLRQWRUHWXUQDQLQVWDQFHKDQGOHRIDQDSSOLFDWLRQ
FRQWDLQLQJ)RUP
&RQVW*:/B+,167$1&(
K,QVWDQFH *HW:LQGRZ/RQJ)RUPKZQG*:/B+,167$1&(
0XOWLSOHLQVWDQFHVRIDQDSSOLFDWLRQRU'//XVHWKHVDPHFRGHVHJPHQWDVVXPLQJWKHEDVH
DGGUHVVHVZKHUHWKH\DUHORDGHGLQWRWKHSURFHVVDUHWKHVDPH EXWWKH\XVHGLIIHUHQWGDWD
VHJPHQWV7KHK,QVWDQFHKDQGOHLVXVHGWRLGHQWLI\WKHGDWDVHJPHQWVIRUHDFKPRGXOH7KLV
PHDQVWKDWLWLVSRVVLEOHIRUHDFK'//WRXVHWKHVDPHFRGHEXWGLIIHUHQWVHWVRIYDULDEOHV
7KHK,QVWDQFHKDQGOHLVQRWJOREDOLQVFRSHDVLVWKHFDVHZLWKWKHK:QGKDQGOH7KLVKDQGOH
LVYDOLGRQO\ZLWKLQDVLQJOHSURFHVV
,Q:LQDQK,QVWDQFHDQGDQK0RGXOHDUHH[DFWO\WKHVDPH$FFRUGLQJWR0LFURVRIW V
GRFXPHQWDWLRQERWKWKHK,QVWDQFHDQGWKHK0RGXOHSRLQWWRWKHEDVHDGGUHVVDWZKLFKWKH H[HFXWDEOH(;( RUWKH'//PRGXOHLVORDGHGZLWKLQWKHSURFHVV
2QHODVWSRLQWDERXWKDQGOHV1HYHUVWRUHWKHKDQGOHRIDQREMHFWLQDJOREDOYDULDEOH7KLVLV
EHFDXVHLIWKHREMHFWLVGHVWUR\HGWKHKDQGOHVWRUHGLQWKHJOREDOYDULDEOHZLOOSRLQWWR
QRWKLQJ7KLVZLOOFDXVHDQHUURUZKHQXVLQJWKHLQYDOLGKDQGOHLQ\RXUFRGH2WKHUWKLQJV
FRXOGKDSSHQVXFKDVWKHFUHDWLRQRIDQHZREMHFWWKDW VDVVLJQHGWKLVKDQGOH7KLVLV
SRVVLEOHEHFDXVH:LQGRZVUHXVHVKDQGOH,'V:KHQXVLQJKDQGOHVLQ\RXUFRGHJHWWKH
KDQGOHDVODWHDVSRVVLEOHDQGWKHQXVHLW7KLVZLOOJXDUDQWHHWKDWWKHKDQGOHLVYDOLGZKHQ
\RXXVHLW
K+RRN (YHU\KRRNWKDW\RXFUHDWHQHHGVDKDQGOHWKDWLGHQWLILHVLW/LNHWKHK:QGZLQGRZKDQGOH
WKHK+RRNKDQGOHYDOXHLVXQLTXHWRWKHHQWLUHV\VWHP$VWKHQDPHLPSOLHVWKHK+RRN
KDQGOHZLOOEHXVHGRQO\ZLWKKRRNVQRWZLWKVXEFODVVLQJ
7RJHWDKDQGOHWRDKRRNZHPXVWXVHWKH6HW:LQGRZ+RRN([$3,IXQFWLRQWKH:LQKRRN
LQVWDOODWLRQIXQFWLRQLQRWKHUZRUGVZHUHWULHYHWKHKDQGOHWRDKRRNZKHQWKDWKRRNLV
GHILQHG7KH6HW:LQGRZ+RRN([IXQFWLRQLVGHFODUHGLQ9%DVIROORZV
3XEOLF'HFODUH)XQFWLRQ6HW:LQGRZV+RRN([/LEXVHUB
$OLDV6HW:LQGRZV+RRN([$B
%\9DOLG+RRN$V/RQJ%\9DOOSIQ$V/RQJB
%\9DOKPRG$V/RQJ%\9DOGZ7KUHDG,G$V/RQJ $V/RQJ
,WKDVWKHIROORZLQJSDUDPHWHUV LG+RRN
7KLVLVWKHLGHQWLILHURIWKHW\SHRIKRRNWKDWLVEHLQJLQVWDOOHGHJ*HW0HVVDJH
KRRN&%7KRRN'HEXJKRRNHWF
OSIQ KPRG
$SRLQWHUWRWKHKRRNFDOOEDFNIXQFWLRQ 7KHKDQGOHRIWKH'//FRQWDLQLQJWKHKRRNFDOOEDFNIXQFWLRQ,IWKLVLV18//WKHKRRN
FDOOEDFNIXQFWLRQLVQRWFRQWDLQHGZLWKLQD'//,QVWHDGLWLVFRQWDLQHGLQWKH
DSSOLFDWLRQ V(;( V FRGH
GZ7KUHDG,G
7KH,'RIWKHDSSOLFDWLRQWKUHDGWKDWFRQWDLQVWKHKRRNFDOOEDFNIXQFWLRQ,IWKLVLV
18//WKHKRRNFDOOEDFNIXQFWLRQLVFRQWDLQHGZLWKLQD'//VHHKPRG
7KHUHWXUQYDOXHRIWKLVIXQFWLRQLVWKHKDQGOHWRWKHQHZO\FUHDWHGKRRN7KLVKDQGOHQHHGVWR
EHVWRUHGVRWKDWLWFDQODWHUEHXVHGWRUHPRYHWKHKRRN7KLVLVRQHFDVHZKHUH\RXQHHGWR
VWRUHDKDQGOHIRUODWHUXVH
FUHDWLRQDQGGHVWUXFWLRQWKHRWKHUKDQGOHVPHQWLRQHGKHUHDUHFRQWUROOHGE\WKHV\VWHP
3URFHVVHV 8QGHUVWDQGLQJSURFHVVHVLQVLGHDQGRXWLVQRWDUHTXLUHPHQWIRUEHLQJDEOHWROHDUQDQG
XQGHUVWDQGWKHPDWHULDOLQWKLVERRNDOWKRXJKDVLPSOHXQGHUVWDQGLQJLVKHOSIXO7KH
LQIRUPDWLRQSUHVHQWHGKHUHRQSURFHVVHVLVRQO\DKLJKOHYHORYHUYLHZ
$OODSSOLFDWLRQVUHTXLUHDSURFHVVWRUXQZLWKLQ$SURFHVVLVD*EYLUWXDODGGUHVVVSDFHWKDW
FRQWDLQVWKHDSSOLFDWLRQDOOLWVPRGXOHVWKHDSSOLFDWLRQ VUHVRXUFHVDQGDWOHDVWRQHWKUHDG
RIH[HFXWLRQ7KHDSSOLFDWLRQ VPRGXOHVLQFOXGHVXFKWKLQJVDVWKHPDLQH[HFXWDEOH (;(
'//V '// GULYHUV '59 DQG$FWLYH;FRQWUROV 2&; $SSOLFDWLRQUHVRXUFHVLQFOXGH
EXWDUHQRWOLPLWHGWRGLDORJVIRQWVILOHVKDQGOHVWRREMHFWVDQGELWPDSILOHV7KUHDGVDUH
GHVFULEHGLQWKHQH[WVHFWLRQ
3HUKDSVWKHPRVWVWULNLQJIHDWXUHRIDSURFHVVLVWKDWHYHU\WKLQJHQFDSVXODWHGZLWKLQLWLV
FRQVLGHUHGSULYDWHWRWKHUHVWRIWKHUXQQLQJSURFHVVHV7KLVNHHSVRQHSURFHVVIURPLQYDGLQJ
RQHRUPRUHRWKHUSURFHVVHVDQGFDXVLQJWKHPWRFUDVK7KHUHDUHKRZHYHUPHWKRGVLQ
:LQGRZVWKDWSURYLGHWKHDELOLW\WRSLHUFHWKDWYHLORIVHFUHF\0HWKRGVVXFKDVILOHPDSSLQJ
LQMHFWLQJFRGH'//V LQWRRWKHUSURFHVVHVDQGRWKHULQWHUSURFHVVFRPPXQLFDWLRQ,3&
WHFKQLTXHVDOORZSURFHVVHVWRFRPPXQLFDWHDQGLQWHUDFWZLWKHDFKRWKHU
7KUHDGV 7KUHDGVRSHUDWHRQO\ZLWKLQDSURFHVV(DFKSURFHVVKDVRQHPDLQWKUHDGDQGSRWHQWLDOO\
PDQ\RWKHUZRUNHUWKUHDGVSHUIRUPLQJRWKHUWDVNVZLWKLQWKHSURFHVV7KHWKUHDGVZLWKLQD
SURFHVVDFWXDOO\H[HFXWHFRGHWKHSURFHVVLWVHOIGRHVQRWH[HFXWHFRGH(YHU\WKUHDGDOVR
KDVLWVRZQPHVVDJHTXHXH$FWXDOO\,VKRXOGFODULI\WKLVVWDWHPHQW7KUHDGVDUHFUHDWHG
LQLWLDOO\ZLWKRXWDPHVVDJHTXHXHWKLVLVGRQHWRVSHHGXSV\VWHPSHUIRUPDQFH$PHVVDJH
TXHXHLVFUHDWHGRQO\ZKHQWKHWKUHDGLVDERXWWRXVHWKH8VHURU*',PRGXOHVDVLV
GRQHZKHQDQHZZLQGRZLVFUHDWHG,PPHGLDWHO\EHIRUHWKHILUVWZLQGRZLVFUHDWHGD
PHVVDJHTXHXHLVFUHDWHGIRUWKDWWKUHDG
,IPRUHWKDQRQHZLQGRZLVFUHDWHGLQWKLVWKUHDGWKHPHVVDJHTXHXHXVHVWKHK:QG
HOHPHQWRIWKHPHVVDJHVWUXFWXUHWRGHWHUPLQHZKLFKZLQGRZZLOOUHFHLYHHDFKSDUWLFXODU PHVVDJH)RUPRUHGHWDLORQ:LQGRZVPHVVDJHVVHH,QVLGHWKH:LQGRZV0HVVDJLQJ
6\VWHPODWHULQWKLVFKDSWHU)RUQRZLW VLPSRUWDQWWRXQGHUVWDQGWKDWRQO\WKUHDGVFRQWDLQ
PHVVDJHTXHXHVSURFHVVHVGRQRWKDYHPHVVDJHTXHXHV
7KH,QWHUQDOVRID:LQGRZ :LQGRZKDVDEURDGHUPHDQLQJWKDQWKHFRQYHQWLRQDOXVHRIWKHWHUP7RWKHRSHUDWLQJ
V\VWHPDZLQGRZFDQEHWKHGHVNWRSZLQGRZDQDSSOLFDWLRQ VWRSOHYHOZLQGRZDQ\FKLOG
ZLQGRZVRIWKHWRSOHYHOZLQGRZGLDORJER[HVPHVVDJHER[HVRUFRQWUROV7KHPDLQ
VLPLODULW\DPRQJWKHVHZLQGRZVLVWKDWWKH\DOOKDYHDZLQGRZSURFHGXUHWKDWFDQUHFHLYH
PHVVDJHVIURPLWVRZQLQJWKUHDG VPHVVDJHTXHXHDQGDFWRQWKHP$OOZLQGRZVFRQWDLQD
GHIDXOWZLQGRZSURFHGXUHWKDWLVGHILQHGLQWKHZLQGRZFODVV
8VLQJ6S\ZHFDQSURYLGHHYLGHQFHWKDWFRQWUROVSODFHGRQDZLQGRZDUHLQIDFWZLQGRZV
WKHPVHOYHV)LUVWFUHDWHDVLPSOH9%DSSOLFDWLRQZLWKDIHZFRQWUROVRQLW1H[WFRPSLOHDQG
UXQWKHDSSOLFDWLRQ6WDUW6S\DQGSUHVVWKH&75/:NH\VWRGLVSOD\WKHOLVWRIFXUUHQWO\
UXQQLQJZLQGRZV7KHWRSOHYHORIWKHZLQGRZWUHHLQ6S\FRQWDLQVWKH'HVNWRSZKLFKLVD
ZLQGRZ7KHQH[WOHYHOGRZQFRQWDLQVDOLVWRIDOOWRSOHYHOZLQGRZVLQWKHV\VWHP:HFDQ
ILQGRXU9%DSSOLFDWLRQ VPDLQZLQGRZLQWKLVOLVWDQGWKHQGULOOGRZQWRWKHQH[WOHYHOWRYLHZ
DOOLWVFKLOGZLQGRZV7KHVHFKLOGZLQGRZVDUHWKHFRQWUROVWKDWZHSODFHGRQWKH9%IRUP%\
GRXEOHFOLFNLQJRQHRIWKHVHFRQWUROZLQGRZVZHFDQYLHZLWV3URSHUWLHVGLDORJER[,QWKH
GLDORJER[ZHQRWLFHWKDWHDFKFRQWUROKDVLWVRZQZLQGRZSURFHGXUHZKLFKZHFDQVHHLQ WKH:LQGRZ3URFILHOGRQWKH&ODVVWDERIWKHGLDORJER[DVVKRZQLQ)LJXUH )LJXUH6S\RXWSXWIRUDWH[WER[FRQWUROLQD9%DSSOLFDWLRQ
7KHZLQGRZFODVV (YHU\ZLQGRZLVFUHDWHGIURPVRPHWKLQJFDOOHGDZLQGRZFODVV7KLVLVVRPHZKDWVLPLODUWR
WKHW\SHRIFODVVWKDWZHXVHLQ9%RU&EXWLWLVQRWWKHVDPH$ZLQGRZFODVVLVQRWKLQJ
PRUHWKDQDVWUXFWXUHRIHOHPHQWVGHVFULELQJWKHEDVHLQIRUPDWLRQWKDWHYHU\ZLQGRZQHHGV
7KLVLQIRUPDWLRQFRQVLVWVRIWKLQJVFRPPRQWRDOOZLQGRZVVXFKDVWKHW\SHRIFXUVRUWR
GLVSOD\WKHZLQGRZ VLFRQHYHQWKHORRNDQGIHHORIWKHZLQGRZLWVHOI:KHQZHFUHDWHD
ZLQGRZLQ&&ZHVWDUWE\ILOOLQJWKH:1'&/$66(;VWUXFWXUHZLWKWKHQHFHVVDU\
LQIRUPDWLRQ7KH:1'&/$66(;VWUXFWXUHLVGHILQHGLQ9LVXDO&DVIROORZV
W\SHGHIVWUXFWB:1'&/$66(;^
8,17FE6L]H
8,17VW\OH
:1'352&OSIQ:QG3URF LQWFE&OV([WUD
LQWFE:QG([WUD
+,167$1&(K,QVWDQFH +,&21K,FRQ
+&85625K&XUVRU
+%586+KEU%DFNJURXQG
/3&7675OSV]0HQX1DPH
/3&7675OSV]&ODVV1DPH +,&21K,FRQ6P
`:1'&/$66(; 3:1'&/$66(;
7KLVHTXLYDOHQWVWUXFWXUHLQ9%LVDVIROORZV
3XEOLF7\SH:1'&/$66(;
FE6L]H$V/RQJ VW\OH$V/RQJ
OSIQ:QG3URF$V/RQJ FE&OV([WUD$V/RQJ
FE:QG([WUD$V/RQJ K,QVWDQFH$V/RQJ K,FRQ$V/RQJ
K&XUVRU$V/RQJ
KEU%DFNJURXQG$V/RQJ
OSV]0HQX1DPH$V6WULQJ
OSV]&ODVV1DPH$V6WULQJ
K,FRQ6P$V/RQJ (QG7\SH
7KHPHPEHUVRIWKH:1'&/$66(;VWUXFWXUHDUH FE6L]H
VW\OH
7KHVL]HRIWKLVVWUXFWXUH $FRPELQDWLRQRIFODVVVW\OHFRQVWDQWV25HGWRJHWKHU7KHVHVW\OHVGHWHUPLQHWKH
IXQGDPHQWDOORRNDQGRSHUDWLRQRIDZLQGRZFUHDWHGIURPWKLVFODVV)RUH[DPSOHWKH
&6B12&/26(FRQVWDQWGLVDEOHVWKH&ORVHRSWLRQRQWKHFODVV VZLQGRZPHQXZKLOH
WKH&6B+5('5$:FRQVWDQWIRUFHVDUHGUDZRIWKHZLQGRZZKHQHYHUWKHZLGWKRILWV
FOLHQWDUHDFKDQJHV
OSIQ:QG3URF
7KHIXQFWLRQSRLQWHUWRWKHZLQGRZSURFHGXUHIRUWKLVFODVV
FE&OV([WUD
7KHDPRXQWRIH[WUDVSDFHWRDGGWRWKHHQGRIWKHFODVVVWUXFWXUH7KHGHYHORSHU
XVHVWKLVWRVWRUHFODVVUHODWHGLQIRUPDWLRQ
FE:QG([WUD
7KHDPRXQWRIH[WUDVSDFHWRDGGWRWKHHQGRIWKHZLQGRZVWUXFWXUH7KHGHYHORSHU
XVHVWKLVWRVWRUHZLQGRZUHODWHGLQIRUPDWLRQ
K,QVWDQFH K,FRQ K&XUVRU
7KHLQVWDQFHKDQGOHRIWKHPRGXOHWKDWFRQWDLQVWKHZLQGRZSURFHGXUHIRUWKLVFODVV 7KHKDQGOHWRDQLFRQUHVRXUFH 7KHKDQGOHWRDFXUVRUUHVRXUFH
KEU%DFNJURXQG
7KHKDQGOHWRDEUXVKRUDFRORUYDOXHXVHGWRSDLQWWKHEDFNJURXQGRIWKHZLQGRZ
FUHDWHGIURPWKLVFODVV
OSV]0HQX1DPH
7KHQXOOWHUPLQDWHGVWULQJWKDWGHILQHVWKHPHQXUHVRXUFH
OSVT&ODVV1DPH
7KHQXOOWHUPLQDWHGVWULQJRUFODVVDWRPGHILQLQJWKHQDPHRIWKHFODVV7KLVYDOXH PXVWEHXQLTXH
K,FRQ6P
7KHKDQGOHWRWKHVPDOOLFRQUHVRXUFH
$IWHUWKH:1'&/$66(;VWUXFWXUHLVGHILQHGZHUHJLVWHUWKLVFODVVE\XVLQJWKH
5HJLVWHU&ODVV([$3,IXQFWLRQ,WV9%GHFODUDWLRQLV
3XEOLF'HFODUH)XQFWLRQ5HJLVWHU&ODVV([/LEXVHUB
$OLDV5HJLVWHU&ODVV([$B
SF:QG&ODVV([$V:1'&/$66(; $V,QWHJHU
7KHVLQJOHSDUDPHWHUWR5HJLVWHU&ODVV([LV SF:QG&ODVV([
$SRLQWHUWRWKH:1'&/$66(;VWUXFWXUH
7KLVIXQFWLRQUHWXUQVDFODVVDWRPZKLFKLVDXQLTXHLGHQWLILHUWRWKHQHZO\UHJLVWHUHGFODVV
$WWKLVSRLQWZHFDQSURFHHGWRDFWXDOO\FUHDWHDZLQGRZRIWKLVFODVVE\FDOOLQJWKH
&UHDWH:LQGRZ([$3,IXQFWLRQWKH9%GHFODUDWLRQIRUZKLFKLV 3XEOLF'HFODUH)XQFWLRQ&UHDWH:LQGRZ([/LEXVHUB
$OLDV&UHDWH:LQGRZ([$B
%\9DOGZ([6W\OH$V/RQJ%\9DOOS&ODVV1DPH$V6WULQJB
%\9DOOS:LQGRZ1DPH$V6WULQJ%\9DOGZ6W\OH$V/RQJB
%\9DO[$V/RQJ%\9DO\$V/RQJB
%\9DOQ:LGWK$V/RQJ%\9DOQ+HLJKW$V/RQJB
%\9DOK:QG3DUHQW$V/RQJ%\9DOK0HQX$V/RQJB
%\9DOK,QVWDQFH$V/RQJOS3DUDP$V$Q\ $V/RQJ
7KHSDUDPHWHUVRI&UHDWH:LQGRZ([DUH GZ([6W\OH
$FRPELQDWLRQRIH[WHQGHGZLQGRZVW\OHFRQVWDQWV25HGWRJHWKHU7KHFRQVWDQWV
LQFOXGH:6B(;B$&&(37),/(6ZKLFKLQGLFDWHVWKDWWKHZLQGRZDFFHSWVGUDJGURS
ILOHV:6B(;B&217(;7+(/3ZKLFKLQFOXGHVDTXHVWLRQPDUNWKDWDSSHDUVLQWKH
ZLQGRZ VWLWOHEDU:6B(;B'/*02'$/)5$0(ZKLFKFUHDWHVDZLQGRZZLWKD
GRXEOHERUGHURU:6B(;B0',&+,/'ZKLFKFUHDWHVDQ0XOWLSOH'RFXPHQW,QWHUIDFH
0', FKLOGZLQGRZ
OS&ODVV1DPH
7KHFODVVQDPHRUFODVVDWRPUHWXUQHGE\5HJLVWHU&ODVV([
OS:LQGRZ1DPH
,IWKHZLQGRZKDVDWLWOHEDUWKLVLVWKHZLQGRZFDSWLRQ,IQRWLWOHEDUH[LVWVWKLVLVWKH
GZ6W\OH
WH[WIRUWKHFRQWUROHJWKHWH[WVWULQJGLVSOD\HGIRUDFKHFNER[
$FRPELQDWLRQRIZLQGRZVW\OHFRQVWDQWVDQGFRQWUROVW\OHFRQVWDQWV25HGWRJHWKHU
6RPHVW\OHFRQVWDQWVLQFOXGH:6B&$37,21WRFUHDWHDZLQGRZZLWKDWLWOHEDU
:6B',6$%/('WRFUHDWHDZLQGRZWKDWLVLQLWLDOO\GLVDEOHG:6B0$;,0,=(%2;WR
LQFOXGHDPD[LPL]HEXWWRQRQWKHZLQGRZRU:6B6,=(%2;WRFUHDWHDZLQGRZWKDW
KDVDVL]LQJERUGHU&RQWUROFRQVWDQWVLQFOXGH%87721&20%2%2;(',7 [ \ Q:LGWK QKHLJKW
/,67%2;0',&/,(175,&+(',7B&/$666&52//%$5DQG67$7,& (TXLYDOHQWWRWKH/HIWSURSHUW\RID9%ZLQGRZ (TXLYDOHQWWRWKH7RSSURSHUW\RID9%ZLQGRZ (TXLYDOHQWWRWKH:LGWKSURSHUW\RID9%ZLQGRZ (TXLYDOHQWWRWKH+HLJKWSURSHUW\RID9%ZLQGRZ
K:QG3DUHQW
K0HQX
$KDQGOHWRWKLVZLQGRZ VSDUHQWRURZQHUZLQGRZ $KDQGOHWRWKHGHIDXOWZLQGRZ VPHQXUHVRXUFH
K,QVWDQFH
7KHLQVWDQFHKDQGOHRIWKHPRGXOHWKDWLVDVVRFLDWHGZLWKWKLVZLQGRZ
OS3DUDP
$SRLQWHUWRXVHUGHILQHGGDWD7KLVSRLQWHULVVWRUHGWRWKHOS&UHDWH3DUDPVPHPEHU
RIWKH&5($7(6758&7VWUXFWXUHDVWUXFWXUHJHQHUDWHGE\WKHRSHUDWLQJV\VWHP
XVLQJWKHSDUDPHWHUVSDVVHGWRWKH&UHDWH:LQGRZ([IXQFWLRQDQGLQWXUQSDVVHGLQ
WKHO3DUDPSDUDPHWHURIWKH:0B&5($7(PHVVDJH
7KLVIXQFWLRQUHWXUQVDKDQGOHWRWKHZLQGRZK:QG ZKLFKDOORZVXVWRPDQLSXODWHWKH
FUHDWHGZLQGRZ
9%FRPSOHWHO\KLGHVDOOWKHPHFKDQLFVRIZLQGRZFUHDWLRQIURPWKHGHYHORSHU,WLVHDVLHUWR
VHHKRZFODVVDQGZLQGRZFUHDWLRQZRUNVLQ9LVXDO&7KHUHIRUHWKHFRGHWKDWIROORZVZLOO
EHZULWWHQLQ9LVXDO&
:KHQZULWLQJDVLPSOH:LQGRZVDSSOLFDWLRQLQ9LVXDO&\RXILUVWFUHDWHDQGUHJLVWHUDQHZ
ZLQGRZFODVVDVVKRZQLQ([DPSOH7KLVFODVVZLOOEHXVHGWRFUHDWHWKHPDLQZLQGRZIRU RXUDSSOLFDWLRQ:KHQWKHFODVVLVFUHDWHGDIXQFWLRQSRLQWHUWRWKHZLQGRZSURFHGXUHIRUWKLV
QHZZLQGRZQHHGVWREHSURYLGHGLQWKHOSIQ:QG3URFPHPEHU)RUWKLVH[DPSOHWKHZLQGRZ
SURFHGXUHIRUWKLVZLQGRZZLOOEHWKH:QG3URFIXQFWLRQ)LQDOO\WKHFODVVLVUHJLVWHUHGXVLQJ
5HJLVWHU&ODVV
([DPSOH&UHDWLQJDQG5HJLVWHULQJD:LQGRZ&ODVV :LQ&ODVVOSV]&ODVV1DPH 1HZ:LQGRZ&ODVV :LQ&ODVVOSIQ:QG3URF :QG3URF
:LQ&ODVVVW\OH &6B2:1'&_&6B95('5$:_&6B+5('5$: :LQ&ODVVK,QVWDQFH K,QVWDQFH
:LQ&ODVVK,FRQ /RDG,FRQ18//,',B$33/,&$7,21 :LQ&ODVVK&XUVRU /RDG&XUVRU18//,'&B$552:
:LQ&ODVVKEU%DFNJURXQG +%586+ &2/25B:,1'2: :LQ&ODVVOSV]0HQX1DPH 18// :LQ&ODVVFE&OV([WUD
:LQ&ODVVFE:QG([WUD
5HJLVWHU&ODVV([ :LQ&ODVV
1H[WDZLQGRZLVFUHDWHGIURPWKLVFODVVDQGGLVSOD\HGDVVKRZQLQ([DPSOH7KH
&UHDWH:LQGRZIXQFWLRQLVXVHGWRFUHDWHWKHZLQGRZ%HFDXVHWKLVIXQFWLRQZLOOQRWGLVSOD\
WKHZLQGRZZHKDYHWRXVHWKH6KRZ:LQGRZ$3,IXQFWLRQWRWHOOWKHZLQGRZWRGLVSOD\LWVHOI
([DPSOH'LVSOD\LQJD:LQGRZ&UHDWHGIURPD:LQGRZ&ODVV K:QG &UHDWH:LQGRZ([:6B(;B/755($',1*
1HZ:LQGRZ&ODVV
0DLQ:LQGRZ
:6B29(5/$33(':,1'2:
&:B86('()$8/7
&:B86('()$8/7
K2ZQHU
K,QVWDQFH
18//
18//
6KRZ:LQGRZK:QGB0DLQ6:B6+2:
6KRZ:LQGRZLVGHILQHGLQ9%DVIROORZV
3XEOLF'HFODUH)XQFWLRQ6KRZ:LQGRZ/LEXVHU$OLDV6KRZ:LQGRZB
,WVSDUDPHWHUVDUH KZQG
%\9DOKZQG$V/RQJ%\9DOQ&PG6KRZ$V/RQJ $V/RQJ
7KHKDQGOHRIWKHZLQGRZWREHVKRZQ
Q&PG6KRZ
$FRQVWDQWVSHFLI\LQJKRZWKHZLQGRZLVGLVSOD\HG&RQVWDQWVLQFOXGH
6:B)25&(0,1,0,=(IRU:LQGRZVRQO\ 6:B+,'(6:B0$;,0,=( 6:B0,1,0,=(6:B5(6725(6:B6+2:DQG6:B6+2:'()$8/7
7KLVIXQFWLRQUHWXUQVD]HURLIWKLVZLQGRZZDVSUHYLRXVO\KLGGHQ$QRQ]HURYDOXHLV UHWXUQHGRWKHUZLVH
ZLQGRZ9%PXVWJRWKURXJKWKHSURFHVVIRU\RX9%GHYHORSHUVDUHVKLHOGHGIURPXVLQJD
ZLQGRZFODVVWRFUHDWHQHZZLQGRZV
IXQFWLRQVVXFKDV*HW&ODVV/RQJRU6HW&ODVV/RQJ&KDSWHUJRHVLQWRGHSWKRQXVLQJWKHVH
DQGRWKHU$3,VWRFUHDWHDZLQGRZFODVVDQGLQWXUQWRFUHDWHRQHRUPRUHZLQGRZVIURPWKDW
FODVV
,QWKH:1'&/$66(;VWUXFWXUHWKHZLQGRZFODVVHOHPHQWWKDWZHZLOOIRFXVRQLV
OSIQ:QG3URF7KLVLVDSRLQWHUWRWKHGHIDXOWZLQGRZSURFHGXUHWKDWDOOZLQGRZVPXVWKDYHWR
UHFHLYHPHVVDJHV7KHGHIDXOWZLQGRZSURFHGXUHGHILQHGKHUHLVSLYRWDOLQVXEFODVVLQJDV
ZHOODVLQVXSHUFODVVLQJDQRWKHUWHFKQLTXHVLPLODUWRVXEFODVVLQJ:HZLOOGLVFXVVERWKWRSLFV
DWOHQJWKLQ3DUW,,RIWKLVERRN
%HFDXVHDOOZLQGRZVDUHFUHDWHGIURPFODVVHVLWVWDQGVWRUHDVRQWKDWVRPHV\VWHPZLGH
FODVVHVGHVFULEHZLQGRZVWKDWDUHLQWULQVLFWRWKH:LQGRZVRSHUDWLQJV\VWHP7DEOHOLVWV
WKHVHV\VWHPZLGHFODVVHV
7DEOH6\VWHPZLGH:LQGRZ&ODVVHV &ODVV1DPH
'HVFULSWLRQ
%XWWRQ
7KHEXWWRQFODVV
&RPER%R[
7KHFRPERER[FODVV
(GLW
7KHHGLWFRQWUROFODVV
/LVW%R[
7KHOLVWER[FODVV
0',&OLHQW
7KH0',FOLHQWZLQGRZFODVV
6FUROO%DU
7KHVFUROOEDUFODVV
6WDWLF
7KHVWDWLFFRQWUROFODVV
&RPER/%R[
7KHOLVWER[FODVVWKDWLVFRQWDLQHGLQDFRPERER[
''(0/(YHQW
7KH''(0/HYHQWVFODVV:LQGRZV17
0HVVDJH
7KHPHVVDJHRQO\ZLQGRZFODVV:LQGRZV
7KHPHQXFODVV
7KHGHVNWRSZLQGRZFODVV
7KHGLDORJER[FODVV
7KHWDVNVZLWFKZLQGRZFODVV
7KHLFRQWLWOHVFODVV:LQGRZV17
7KHVHFODVVHVDUHFUHDWHGE\WKHRSHUDWLQJV\VWHPDQGFDQEHXVHGE\HYHU\UXQQLQJ
SURFHVV7KHVHFODVVHVFDQQRWEHGHVWUR\HGE\DQDSSOLFDWLRQ7KLVW\SHRIFODVVKDVD
V\VWHPZLGHRUJOREDOVFRSHKHQFHLWVQDPHV\VWHPZLGHFODVV7KLVPHDQVWKDWDQ\
DSSOLFDWLRQRU'//FXUUHQWO\UXQQLQJLQWKHV\VWHPFDQXVHPRVWRIWKHVHFODVVHVWRFUHDWH
QHZZLQGRZV(YHQWKRXJKWKHODVWHLJKWLWHPVLQ7DEOHDUHV\VWHPZLGHWKH\DUH
DYDLODEOHRQO\WRWKHV\VWHP7KHGHYHORSHUFDQQRWXVHWKHVHFODVVHVWRFUHDWHZLQGRZV
7KHUHDUHWZRPRUHW\SHVRIFODVVHVHDFKKDYLQJDPRUHOLPLWHGVFRSH7KHILUVWW\SHRI
FODVVLVWKHDSSOLFDWLRQJOREDOFODVV7KLVFODVVLVFUHDWHGDQGUHJLVWHUHGE\DPRGXOH'//RU
(;( ZLWKLQWKHSURFHVVE\SODFLQJWKH&6B*/2%$/&/$66FRQVWDQWLQWKHVW\OHHOHPHQWRI
WKH:1'&/$66(;VWUXFWXUH7KLVW\SHRIFODVVLVUHJLVWHUHGDQGXVHGRQO\ZLWKLQDVLQJOH
SURFHVV$OOPRGXOHVZLWKLQWKDWSURFHVVKDYHWKHDELOLW\WRFUHDWHQHZZLQGRZVXVLQJWKLV
W\SHRIFODVV
7KHVHFRQGW\SHRIFODVVLVWKHORFDOFODVV7KHORFDOFODVVLVFUHDWHGDQGUHJLVWHUHGE\D
VLQJOHPRGXOH(;(RU'// 7KLVW\SHRIFODVVLVDYDLODEOHRQO\WRWKHPRGXOHWKDWUHJLVWHUHG
LW([FOXGLQJWKH&6B*/2%$/&/$66FRQVWDQWIURPWKHVW\OHPHPEHURIWKH:1'&/$66(;
FODVVVWUXFWXUHDOORZV\RXWRFUHDWHWKLVW\SHRIFODVV
:KHQ\RXDUHXVLQJWKH63<SURJUDPWRZDWFK\RXU9%DSSOLFDWLRQV\RXZLOOQRWLFHWKDW
9%XVHVFODVVHVSUHSHQGHGZLWKWKHZRUG7KXQGHU/RRNLQJDW)LJXUH\RXFDQVHHWKDW
WKHUHDUHVHYHUDO7KXQGHUFODVVHV ThunderRT6FormDC 7KHFODVVIRUDOO9%IRUPV ThunderRT6CommandButton
7KHFODVVIRUDOO9%EXWWRQV ThunderTR6TextBox
7KHFODVVIRUDOO9%WH[WER[HV ThunderRT6Main
7KHFODVVIRUWKHIRUPWKDWRZQVDOO9%WRSOHYHOZLQGRZV7KLVZLQGRZLVDOZD\V
KLGGHQ
'HSHQGLQJRQWKHYHUVLRQRI9%\RXDUHXVLQJ7KXQGHU57RU7KXQGHU57FDQEH
SUHSHQGHGWRWKHFODVVQDPH7KHOHWWHUVLQ57GHQRWHWKHZRUGUXQWLPHDQGWKHQXPEHU
GHQRWHVWKHYHUVLRQRI9%7KHQXPEHULVQRWDGGHGIRUYHUVLRQVRI9%HDUOLHUWKDQ$OVR
ZKHQUXQQLQJLQWKH,'(WKHUHLVQR57MXVWWKHZRUG7KXQGHU7KXQGHUZDVWKHFRGHQDPH
IRU9%ZKHQLWZDVILUVWEHLQJGHYHORSHGDW0LFURVRIW
)LJXUH9%7KXQGHUFODVVHV
7KHZLQGRZSURFHGXUH $OOZLQGRZVPXVWKDYHDZLQGRZSURFHGXUHWRSURFHVVLQFRPLQJPHVVDJHVIURPWKHLU
WKUHDG VPHVVDJHTXHXH$ZLQGRZSURFHGXUHLVEDVLFDOO\DIXQFWLRQWKDWUHFHLYHVWKH
ZLQGRZ VPHVVDJHSDVVHGLQDVD/RQJDORQJZLWKDQ\SDUDPHWHUVDVVRFLDWHGZLWKWKH
PHVVDJHDVDUJXPHQWV7KHERG\RIWKLVIXQFWLRQLVVLPSO\DODUJHFDVHVWDWHPHQWWKDW
SURYLGHVWKHDSSURSULDWHIXQFWLRQDOLW\IRUHDFKPHVVDJHWKDWWKHGHYHORSHULVLQWHUHVWHGLQ$OO
ZLQGRZSURFHGXUHVKDYHWKHIROORZLQJSURWRW\SH
/5(68/7&$//%$&.:LQGRZ3URF
+:1'KZQG 8,17X0VJ
:3$5$0Z3DUDP /3$5$0O3DUDP
7KHZLQGRZSURFHGXUHKDVWKHIROORZLQJSDUDPHWHUV KZQG
X0VJ
7KHKDQGOHRIWKHZLQGRZWRZKLFKWKHPHVVDJHLVGLUHFWHG $FRQVWDQWWKDWLGHQWLILHVWKHPHVVDJHWKDWLVEHLQJVHQW
Z3DUDP O3DUDP
([WUDLQIRUPDWLRQWKDWWKHPHVVDJHFDQFRQWDLQ ([WUDLQIRUPDWLRQWKDWWKHPHVVDJHFDQFRQWDLQ
7KHZ3DUDPDQGO3DUDPDUJXPHQWVFRQWDLQLQIRUPDWLRQQHHGHGWRSURFHVVDPHVVDJH7KH
LQIRUPDWLRQFRQWDLQHGZLWKLQWKHVHWZRDUJXPHQWVGHSHQGVRQWKHPHVVDJHEHLQJVHQW7DNH
IRUH[DPSOHWKH:0B'(6752<PHVVDJHZKLFKLVVHQWGXULQJWKHGHVWUXFWLRQRIDZLQGRZ
7KLVPHVVDJHGRHVQRWXVHHLWKHUWKHO3DUDPRUWKHZ3DUDPDUJXPHQWV2QWKHRWKHUKDQG
WKH:0B6,=(PHVVDJHZKLFKLVVHQWDIWHUDZLQGRZKDVEHHQUHVL]HGXVHVERWK
DUJXPHQWV7KHZ3DUDPFRQWDLQVDFRQVWDQWGHVFULELQJWKHW\SHRIUHVL]LQJEHLQJGRQH7KH
O3DUDPFRQWDLQVWKHZLGWKDQGKHLJKWRIWKHZLQGRZEHLQJUHVL]HG2WKHUPHVVDJHVFDQXVH
RQO\RQHRIWKHDUJXPHQWV,WLVLPSRUWDQWWRH[DPLQHWKHGHILQLWLRQDQGVWUXFWXUHRIHDFK
PHVVDJHVRWKDW\RXXVHLWFRUUHFWO\
7KLVEULQJVXSDQLPSRUWDQWSRLQW0DQ\WLPHVDPHVVDJHZLOOFRQWDLQDSRLQWHUWRDVWUXFWXUH
LQWKHZ3DUDPRUO3DUDPDUJXPHQWV7KH&RS\0HPRU\$3,IXQFWLRQLVXVHGWRSODFHWKH
VWUXFWXUHSRLQWHGWRE\HLWKHURIWKHVHDUJXPHQWVLQWRWKHVDPHVWUXFWXUHGHFODUHGLQ9%7KH
&RS\0HPRU\SURFHGXUHGHFODUDWLRQLQ9%LVDVIROORZV
3XEOLF'HFODUH6XE&RS\0HPRU\/LENHUQHO$OLDV5WO0RYH0HPRU\B
,WVSDUDPHWHUVDUH
'HVWLQDWLRQ$V$Q\6RXUFH$V$Q\%\9DO/HQJWK$V/RQJ
'HVWLQDWLRQ 6RXUFH /HQJWK
7KHGHVWLQDWLRQDGGUHVVWRZKLFKWKHLQIRUPDWLRQLVWREHFRSLHG 7KHVRXUFHDGGUHVVIURPZKLFKWKHLQIRUPDWLRQLVWREHFRSLHG 7KHOHQJWKLQE\WHVRIWKHLQIRUPDWLRQWREHFRSLHG
([DPSOHLVDVKRUWH[DPSOHXVLQJ&RS\0HPRU\WRJHWDVWUXFWXUHUHWXUQHGIURPWKH
*HW&ODVV,QIR([$3,IXQFWLRQ7KHILUVWIRXUOLQHVGLPHQVLRQWKHYDULDEOHVWKDWDUHXVHG7KH
:1'&/$66(;VWUXFWXUHZLOOEHFRSLHGIURPPHPRU\XVLQJWKHSRLQWHUVWRUHGLQWKH
VWUXFW2ULJ%WWQ&ODVVYDULDEOHDQGSODFHGLQWRWKHVWUXFW&RS\%WWQ&ODVVYDULDEOH7KHQH[WOLQH
RIFRGHXVHV*HW&ODVV,QIR([WRUHWULHYHWKHFODVVVWUXFWXUHIRUWKHV\VWHPZLGH%87721
FODVV7KHVWUXFW2ULJ%WWQ&ODVVYDULDEOHQRZFRQWDLQVDSRLQWHUWRWKH:1'&/$66(;
VWUXFWXUH%HIRUHZHFDQXVHWKLVVWUXFWXUHZHKDYHWRXVHWKH&RS\0HPRU\IXQFWLRQWRFRS\
WKHVWUXFWXUHSRLQWHGWRE\VWUXFW2ULJ%WWQ&ODVVLQWRWKHVWUXFW&RS\%WWQ&ODVVYDULDEOH7KHODVW
OLQHRIFRGHXVHVWKHVWUXFW&RS\%WWQ&ODVVYDULDEOHWRUHWULHYHWKHOSIQZQGSURFPHPEHUGDWD
DQGSODFHLWLQWRDVHSDUDWHYDULDEOH
([DPSOH8VLQJWKH&RS\0HPRU\3URFHGXUH 'LPVWUXFW2ULJ%WWQ&ODVV$V:1'&/$66(;
'LPVWUXFW&RS\%WWQ&ODVV$V:1'&/$66(; 'LPPB2ULJ%WWQ:LQ3URFDV/RQJ 'LPO5HW9DO$V/RQJ
*HWRULJLQDO:LQGRZ VEXWWRQFODVV
O5HW9DO *HW&ODVV,QIR([$SSK,QVWDQFH%87721VWUXFW2ULJ%WWQ&ODVV
*HWDFRS\RILWVHOHPHQWV
&RS\0HPRU\VWUXFW&RS\%WWQ&ODVVVWUXFW2ULJ%WWQ&ODVV/HQ%VWUXFW2ULJ%WWQ&ODVV
*HWRULJLQDOEXWWRQZLQGRZSURFHGXUHDQGVDYHLW
PB2ULJ%WWQ:LQ3URF VWUXFW&RS\%WWQ&ODVVOSIQZQGSURF
&RS\0HPRU\DOVRFDQEHXVHGIRUSRLQWHUVWRQXOOWHUPLQDWHGVWULQJVWKDWDUHSDVVHGEDFNWR
9%DSSOLFDWLRQV8QGHUVWDQGLQJDQGXVLQJ&RS\0HPRU\LVDUHTXLUHPHQWIRUPDQLSXODWLQJ
PHVVDJHVWKDWFRQWDLQSRLQWHUVWRVWUXFWXUHVDVZHOODVVWULQJV
7RUHVXPHRXUGLVFXVVLRQRIWKHZLQGRZSURFHGXUHIRUDZLQGRZSURFHGXUHWREHDEOHWR
SURFHVVPHVVDJHVLWPXVWILUVWEHIHGWKHPHVVDJHV$PHVVDJHORRSLVXVHGIRUWKLV
SXUSRVH,QVKRUWDPHVVDJHORRSUXQVIRUWKHHQWLUHOLIHWLPHRIWKHWKUHDGWRZKLFKLWLV
DWWDFKHG,WFRQWLQXDOO\FKHFNVWKHWKUHDGPHVVDJHTXHXHIRUPHVVDJHVDQGWKHQSDVVHV
WKHPRQWRWKHZLQGRZSURFHGXUH,ZLOOH[SODLQWKLVLQPRUHGHWDLOODWHULQWKLVFKDSWHU)RU
QRZ([DPSOHVKRZVWKH9LVXDO&FRGHXVHGWRFUHDWHDPHVVDJHORRS ([DPSOH$0HVVDJH/RRS ZKLOH*HW0HVVDJH PVJ18// ^
*HWPVJIURPTXHXH
`
7UDQVODWH0HVVDJH PVJ
'LVSDWFK0HVVDJH PVJ
1HFHVVDU\IRUNH\ERDUGLQSXW
6HQGVPVJWRZLQGRZSURFHGXUH
,QD9LVXDO&DSSOLFDWLRQDZLQGRZSURFHGXUHORRNVVRPHWKLQJOLNH([DPSOH,QDUHDO
ZRUOGDSSOLFDWLRQWKHVZLWFKVWDWHPHQWDQDORJRXVWRD9%6HOHFW&DVHVWDWHPHQW ZRXOG
KDQGOHPDQ\PRUHPHVVDJHV
([DPSOH$:LQGRZ3URFHGXUH /5(68/7&$//%$&.:QG3URF+:1'K:QG
^
8,17XPVJ
:3$5$0Z3DUDP /3$5$0O3DUDP
FDVH:0B&200$1'
GHIDXOW
'RZRUNKHUH EUHDN
FDVH:0B'(6752<
VZLWFKXPVJ
3RVW4XLW0HVVDJH UHWXUQ
`
UHWXUQ'HI:LQGRZ3URFK:QGXPVJZ3DUDPO3DUDP
`
$V\RXFDQVHHPRVWRIWKH:QG3URFZLQGRZSURFHGXUHLVWDNHQXSE\DVZLWFKVWDWHPHQW
+XQGUHGVRIPHVVDJHVFDQEHSDVVHGWRDZLQGRZSURFHGXUH,QDUHDOZRUOGDSSOLFDWLRQ
ZULWWHQLQ&DZLQGRZSURFHGXUHFRXOGEHFRPHYHU\ODUJH
$YHU\LPSRUWDQWREVHUYDWLRQPXVWEHPDGHDERXWWKLVZLQGRZSURFHGXUH1RWLFHWKDWE\
GHIDXOWWKH'HI:LQGRZ3URF$3,IXQFWLRQLVFDOOHGDWWKHYHU\HQGRIWKLVZLQGRZSURFHGXUH
7KLVIXQFWLRQLVGHFODUHGLQ9%DVIROORZV
3XEOLF'HFODUH)XQFWLRQ'HI:LQGRZ3URF/LEXVHUB
$OLDV'HI:LQGRZ3URF$B
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
,WVSDUDPHWHUVDUH KZQG
%\9DOKZQG$V/RQJ%\9DOZ0VJ$V/RQJB
7KHKDQGOHRIWKHZLQGRZWRZKLFKWKHPHVVDJHLVGLUHFWHG
X0VJ
$FRQVWDQWWKDWLGHQWLILHVWKHPHVVDJHWKDWLVEHLQJVHQW
Z3DUDP
([WUDLQIRUPDWLRQWKDWWKHPHVVDJHFDQFRQWDLQ7KLVYDOXHLVGHWHUPLQHGE\WKH
O3DUDP
PHVVDJH
([WUDLQIRUPDWLRQWKDWWKHPHVVDJHFDQFRQWDLQ7KLVYDOXHLVGHWHUPLQHGE\WKH
PHVVDJH
7KHUHWXUQYDOXHDOVRGHSHQGVRQWKHPHVVDJH$V\RXPLJKWQRWLFHWKHVHDUJXPHQWVDUH
WKHVDPHLQQXPEHUDQGW\SHDVWKHDUJXPHQWVLQWKH:QG3URFZLQGRZSURFHGXUH7KHVH
DUJXPHQWVDUHVLPSO\SDVVHGWKURXJKWRWKLVIXQFWLRQ7KLVIXQFWLRQFDOOVWKHGHIDXOWZLQGRZ
SURFHGXUHZKLFKSURYLGHVWKHPLQLPXPIXQFWLRQDOLW\IRUDOOZLQGRZV
:LQGRZSURFHGXUHVIRUQHDUO\DOOPHVVDJHVPXVWFDOOWKHGHIDXOWZLQGRZSURFHGXUH)DLOLQJ
WRGRVRFDQPHDQWKDWFHUWDLQPHVVDJHVPLJKWQRWEHKDQGOHGFRUUHFWO\7KHSUHYLRXVFRGH
H[DPSOHIRUWKH:QG3URFIXQFWLRQFDOOV'HI:LQGRZ3URFDIWHUSURFHVVLQJWKH
:0B&200$1'PHVVDJHEXWQRWDIWHUWKH:0B'(6752<PHVVDJH7KH:0B'(6752<
PHVVDJHFDOOV3RVW4XLW0HVVDJHZKLFKVLPSO\LQIRUPVWKHWKUHDGWKDWLWLVWLPHWREH
GHVWUR\HG$WWKLVSRLQWDQ\RIWKLVZLQGRZ VFKLOGZLQGRZVDUHILUVWGHVWUR\HGWKHQWKH
ZLQGRZLVGHDFWLYDWHGDQGNH\ERDUGDQGPRXVHLQSXWDUHQRWDFFHSWHG7KHZLQGRZDQGDQ\
RWKHUREMHFWVLWRZQVDUHILQDOO\UHPRYHGIURPPHPRU\
7KH'HI:LQGRZ3URFIXQFWLRQLVQRWFDOOHGEHFDXVHIRUWKLVPHVVDJHLWZRXOGQRWEH
GHVLUDEOHWRDOORZRWKHUDFWLRQVWRRFFXUZKLOHWKLVZLQGRZLVEHLQJGHVWUR\HG'XULQJWKH
SURFHVVRIGHVWUR\LQJDZLQGRZWKHK:QGRIWKDWZLQGRZDOVRLVGHVWUR\HG7KH
'HI:LQGRZ3URFPLJKWFDXVHRWKHUPHVVDJHVWREHILUHGRIIWKDWFDQVORZGRZQRULQWHUIHUH
ZLWKWKHGHVWUXFWLRQSURFHVV3RWHQWLDOO\PHVVDJHVFRXOGEHZDLWLQJLQWKHPHVVDJHTXHXHWR
EHSURFHVVHGE\WKHZLQGRZSURFHGXUHUHODWLQJWRWKLVK:QG,IDPHVVDJHHQGVXSLQWKH
WKUHDG VPHVVDJHTXHXHZLWKWKHKDQGOHWRDZLQGRZWKDWKDVEHHQGHVWUR\HGD*HQHUDO
3URWHFWLRQ)DXOW*3) FRXOGRFFXUZKHQWKHPHVVDJHORRSWULHVWRSURFHVVWKLVPHVVDJH
2QWKHRWKHUKDQGLIFHUWDLQPHVVDJHVDUHQRWSDVVHGRQWRWKHGHIDXOWZLQGRZSURFHGXUH
WKHDSSOLFDWLRQPLJKWQRWEHKDYHFRUUHFWO\,PDJLQHWU\LQJWRUHVL]HRUPRYHDZLQGRZZKHQ
WKHUHVL]HDQGPRYHPHVVDJHVDUHQRWEHLQJSDVVHGRQWRWKHGHIDXOWZLQGRZSURFHGXUHIRU
SURFHVVLQJ,WZRXOGVHHPDVLIWKHDSSOLFDWLRQZDVIUR]HQ$V\RXFDQVHHLWLVLPSHUDWLYHWR
SDVVWKHPHVVDJHVRQWRWKHGHIDXOWZLQGRZSURFHGXUHXQOHVV\RXKDQGOHDOOWKHORZOHYHO IXQFWLRQDOLW\RIWKHGHIDXOWZLQGRZSURFHGXUHLQWKHZLQGRZSURFHGXUH\RXGHYHORS7KLVLV
QRWUHFRPPHQGHG
:KHQDV\VWHPPRXVHRUNH\ERDUGHYHQWVHQGVDPHVVDJHWRDVSHFLILFZLQGRZLWLV
KDQGOHGE\WKHZLQGRZSURFHGXUHIRUWKDWZLQGRZ7KHSURFHGXUHFDQSHUIRUPVRPHDFWLRQ
EDVHGRQWKHPHVVDJHRULIWKHPHVVDJHGLVQRWKDQGOHGLWLVSDVVHGRQWRWKHGHIDXOW
ZLQGRZSURFHGXUHWKURXJKWKH'HI:LQGRZ3URF$3,IXQFWLRQIRUGHIDXOWSURFHVVLQJ
,WLVLQWHUHVWLQJWRQRWHWKDWZKHQPRUHWKDQRQHZLQGRZLVFUHDWHGIURPDVLQJOHFODVVHDFK
ZLQGRZKDVWKHVDPHZLQGRZSURFHGXUH7KLVLVEHFDXVHWKHFODVVPHPEHUOSIQ:QG3URF
ZKLFKLVLQKHULWHGE\HDFKZLQGRZLVSRLQWLQJWRWKHVDPHPHPRU\ORFDWLRQ1RZWKLV
SURFHGXUHLVZKDWPDNHVRXUZLQGRZIXQFWLRQDO8QIRUWXQDWHO\WKLVZLQGRZSURFHGXUHLVQRW
DVUHDGLO\DYDLODEOHWRWKH9%GHYHORSHUWREHPRGLILHGDVLWLVWRWKH9LVXDO&GHYHORSHU
7RRYHUULGHRUFKDQJHWKHGHIDXOWEHKDYLRURIDZLQGRZZHQHHGWRVXEFODVVWKHZLQGRZ RULQRWKHUZRUGVWRFKDQJHWKHOSIQ:QG3URFPHPEHUWRSRLQWWRDZLQGRZSURFHGXUHWKDW
ZHFUHDWH
&UHDWLQJDVLPSOHZLQGRZDSSOLFDWLRQZLWK9LVXDO& %HFDXVH9%WHQGVWRREVFXUHPRVWRIWKHGHWDLOVRID:LQGRZVDSSOLFDWLRQ VRSHUDWLRQLWLV
XVHIXOWRORRNDWWKH9LVXDO&FRGHIRUDYHU\VLPSOHDSSOLFDWLRQWKDWGLVSOD\VDSODLQ
ZLQGRZZKLFKLVVKRZQLQ([DPSOH7KHDSSOLFDWLRQFRQVLVWVRIRQO\WZRIXQFWLRQV7KH
ILUVWWKH:LQ0DLQIXQFWLRQLVWKHHQWU\SRLQWWRD:LQGRZVDSSOLFDWLRQ7KLVIXQFWLRQLVFDOOHG
E\WKHV\VWHPZKLFKSURYLGHVYDOXHVDVDUJXPHQWVRIWKLVIXQFWLRQDVZHOO7KHIXQFWLRQ V
DUJXPHQWVDUH K,LQVWDQFH
7KHLQVWDQFHKDQGOHIRUWKHFXUUHQWLQVWDQFHRIWKHDSSOLFDWLRQ
K3UHY,QVWDQFH
:LQDSSOLFDWLRQVDOZD\VVHWWKLVWR18//
OSV]&PG/LQH
7KHFRPPDQGOLQHSDUDPHWHUVSDVVHGLQWRWKLVDSSOLFDWLRQ
Q&PG6KRZ
'HWHUPLQHVKRZWKLVZLQGRZLVLQLWLDOO\GLVSOD\HGWRWKHXVHU
7KHVHFRQGIXQFWLRQ:QG3URFLVWKHDSSOLFDWLRQ VZLQGRZSURFHGXUH ([DPSOH$6LPSOH:LQGRZV$SSOLFDWLRQ:ULWWHQLQ& LQW3$6&$/:LQ0DLQ+,167$1&(K,QVWDQFH
/3675OSV]&PG/LQH
:1'&/$66:LQ&ODVV
+:1'K:QG
:LQ&ODVVOSV]&ODVV1DPH 1HZ:LQGRZ&ODVV
^
+,167$1&(K3UHY,QVWDQFH
LQWQ&PG6KRZ
06*PVJ
:LQ&ODVVOSIQ:QG3URF :QG3URF
:LQ&ODVVVW\OH &6B2:1'&_&6B95('5$:_&6B+5('5$:
:LQ&ODVVK,QVWDQFH K,QVWDQFH
:LQ&ODVVK,FRQ /RDG,FRQ18//,',B$33/,&$7,21
:LQ&ODVVK&XUVRU /RDG&XUVRU18//,'&B$552:
:LQ&ODVVOSV]0HQX1DPH 18//
:LQ&ODVVKEU%DFNJURXQG +%586+ &2/25B:,1'2: :LQ&ODVVFE&OV([WUD
:LQ&ODVVFE:QG([WUD
5HJLVWHU&ODVV([ :LQ&ODVV
+:QG &UHDWH:LQGRZ([:6B(;B/755($',1*
1HZ:LQGRZ&ODVV
0DLQ:LQGRZ
:6B29(5/$33(':,1'2:
&:B86('()$8/7
&:B86('()$8/7
K2ZQHU
K,QVWDQFH
5HJLVWHUWKLVFODVV
18//
18//
6KRZ:LQGRZK:QG6:B6+2:
ZKLOH*HW0HVVDJH PVJ18// *HWPVJIURPTXHXH
^
7UDQVODWH0HVVDJH PVJ 1HFHVVDU\IRUNH\ERDUGLQSXW
'LVSDWFK0HVVDJH PVJ
`
UHWXUQPVJZ3DUDP
`
6KRZWKHFUHDWHGZLQGRZ
6HQGVPVJWRZLQGRZSURFHGXUH
/5(68/7&$//%$&.:QG3URF+:1'K:QG
^
8,17XPVJ
:3$5$0Z3DUDP /3$5$0O3DUDP
VZLWFKXPVJ
FDVH:0B&200$1'
FDVH:0B'(6752<
'RZRUNKHUH
EUHDN
GHIDXOW
`
3RVW4XLW0HVVDJH UHWXUQ
UHWXUQ'HI:LQGRZ3URFK:QGXPVJZ3DUDPO3DUDP
`
,QVLGHWKH:LQGRZV0HVVDJLQJ6\VWHP 7KHPHVVDJLQJV\VWHPLVDWWKHFRUHRIWKH:LQGRZVRSHUDWLQJV\VWHP:LWKRXWPHVVDJHV
WKHRSHUDWLQJV\VWHPZRXOGEHDERXWDVXVHIXODVDSLOHRIURFNV6XEFODVVLQJDQGKRRNV
RSHUDWHRQWKHPHVVDJLQJV\VWHPWKLVLVZK\LWLVVRLPSRUWDQWWRXQGHUVWDQGPHVVDJLQJDVLW
DSSOLHVWRWKH:LQGRZVRSHUDWLQJV\VWHP,QWKLVVHFWLRQ,ZLOOGLVFXVVHDFKVHSDUDWH
PHFKDQLVPZLWKLQWKHPHVVDJLQJV\VWHPWRJLYH\RXDQLGHDRIKRZWKHVHSLHFHVUHODWHDQG
RSHUDWHWRJHWKHUWRVHQGPHVVDJHVIURPDVRXUFHWRDGHVWLQDWLRQZLQGRZ)LJXUHVKRZV KRZWKHPHVVDJLQJV\VWHPZRUNV
)LJXUH7KH:LQGRZVPHVVDJLQJV\VWHP
7KH5DZ,QSXW7KUHDG 7KHRSHUDWLQJV\VWHPXSRQERRWXSFUHDWHVRQHWKUHDGIRULWVHOIFDOOHGWKHUDZLQSXWWKUHDG
5,7 7KHUHLVRQO\RQHRIWKLVW\SHRIWKUHDGLQWKHV\VWHP7KLVWKUHDGFRQWDLQVDV\VWHP
PHVVDJHTXHXHXVHGWRUHFHLYHKDUGZDUHHYHQWVVXFKDVPRXVHFOLFNVDQGNH\ERDUG
NH\SUHVVHV,WFDQFROOHFWHYHQWVIURPWKHVHKDUGZDUHGHYLFHVWKURXJKGHYLFHGULYHUV$ GHYLFHGULYHULVEDVLFDOO\DW\SHRI'//WKDWDFWVDVWKHWUDQVODWRUEHWZHHQWKHKDUGZDUH
GHYLFHDQGWKH:LQGRZVV\VWHP7KLVDOORZVKDUGZDUHGHYLFHVWRFRPPXQLFDWHZLWKWKH
V\VWHP$GHYLFHGULYHUVLWVDQGZDLWVIRULQSXWIURPWKHKDUGZDUHGHYLFHIRUZKLFKLWLV
DVVRFLDWHG$IWHULWJHWVVRPHW\SHRILQSXWLWLQWHUUXSWVWKHV\VWHPDQGVHQGVDKDUGZDUH
HYHQWWRWKHV\VWHPPHVVDJHTXHXHRQWKH5,77KH5,7WDNHVWKHKDUGZDUHHYHQWRIIRILWV
V\VWHPPHVVDJHTXHXHDQGFRQYHUWVLWWRDVWDQGDUG:LQGRZVPHVVDJH7KH5,7SRVWVWKH
PHVVDJHWRWKHFRUUHFWWKUHDG VRUWKUHDGV PHVVDJHTXHXH7KHODVWVWHSLQWKHSURFHVVLV
IRUWKHWKUHDG VPHVVDJHTXHXHWRGHOLYHUWKHPHVVDJHWRWKHFRUUHFWZLQGRZSURFHGXUH
/HW VWDNHIRUH[DPSOHDPRXVHEXWWRQFOLFNWKDWLVJHQHUDWHGE\WKHXVHU7KHPRXVHGULYHU
JDWKHUVLQIRUPDWLRQDERXWWKHPRXVHDQGSODFHVLWLQWRD06*VWUXFWXUHGHILQHGDVIROORZV
W\SHGHIVWUXFWWDJ06*^
+:1'KZQG
8,17PHVVDJH
:3$5$0Z3DUDP
/3$5$0O3DUDP
':25'WLPH 32,17SW
`06* 306*
7KH06*VWUXFWXUHKDVWKHIROORZLQJHOHPHQWV
KZQG
7KHKDQGOHRIWKHZLQGRZWRZKLFKWKHPHVVDJHLVGLUHFWHG
PHVVDJH
7KHPHVVDJHWREHSDVVHGWRWKLVZLQGRZ$OOZLQGRZPHVVDJHVDUHFRQVWDQWV
ZKLFKDUHGHILQHGLQWKH:LQ6RIWZDUH'HYHORSPHQW.LW6'. KHDGHUILOHV7KH
KHDGHUILOHV:,186(5+DQG:,1$%/(+FRQWDLQPRVWRIWKHVHFRQVWDQWV
Z3DUDP and O3DUDP
0DQ\PHVVDJHVPDNHXVHRIWKHZ3DUDPDQGO3DUDPHOHPHQWVWRSDVVLQH[WUD
LQIRUPDWLRQWRWKHUHFHLYLQJZLQGRZSURFHGXUH7KLVH[WUDLQIRUPDWLRQGHSHQGVRQWKH
PHVVDJH)RUH[DPSOHLWFRXOGLQGLFDWHZKLFKPRXVHEXWWRQZDVSUHVVHGRULIWKH
&WUONH\ZDVSUHVVHGLQFRPELQDWLRQZLWKWKHFXUUHQWO\SUHVVHGNH\6RPHPHVVDJHV
QHHGWRSDVVPXFKPRUHLQIRUPDWLRQWKDQLVSRVVLEOHZLWKWKHZ3DUDPDQGO3DUDP
DUJXPHQWV7RJHWDURXQGWKLVOLPLWDWLRQVRPHPHVVDJHVKDYHVSHFLDOVWUXFWXUHV
DVVRFLDWHGZLWKWKHP3RLQWHUVWRWKHVHVWUXFWXUHVDUHSDVVHGLQHLWKHUWKHO3DUDPRU
Z3DUDPHOHPHQWV
(DFKPHVVDJHKDVLWVRZQLGHQWLW\WKDWLVWKHZD\RQHPHVVDJHILOOVLQWKH06*
VWUXFWXUHLVQRWWKHZD\HYHU\PHVVDJHZLOOILOOLWLQ0RVWPHVVDJHVKDYHWKHLURZQ
LQIRUPDWLRQWKDWPXVWEHSDVVHGRQWRWKHUHFHLYLQJZLQGRZ7KHUHIRUHEHFRPH
IDPLOLDUZLWKWKHPHVVDJHWKDW\RXDUHJRLQJWREHWUDSSLQJEHIRUH\RXZULWHWKHFRGH
WLPH
RU\RXPLJKWEHLQIRUDVXUSULVH
5HSUHVHQWVZKHQWKHPHVVDJHZDVSRVWHGWLPHLVHTXDOWRWKHQXPEHURIFORFNWLFNV
VLQFHWKHFRPSXWHUKDVEHHQUXQQLQJ6RWRILQGWKHDPRXQWRIWLPHWKDWKDVHODSVHG
EHWZHHQPHVVDJHVMXVWVXEWUDFWWKHSUHYLRXVPHVVDJH VWLPHPHPEHUIURPWKH
FXUUHQWPHVVDJH VWLPHPHPEHU7KHWLPHPHPEHUZLOOSOD\DQLPSRUWDQWUROHZKHQ
SW
ZHVWDUWXVLQJMRXUQDOKRRNV
$SRLQWHUWRD32,17VWUXFWXUH7KHSWPHPEHUSRLQWVWRDVWUXFWXUHFRQWDLQLQJWKH
PRXVHFXUVRUFRRUGLQDWHVZKHQWKLVPHVVDJHZDVJHQHUDWHG
7RFRQWLQXHZLWKRXUH[DPSOHWKHZLQGRZKDQGOHWRWKHZLQGRZRQZKLFKWKHPRXVHZDV
FOLFNHGLVSODFHGLQWKHKZQGPHPEHU7KHDSSURSULDWHPHVVDJHLGHQWLILHULVSODFHGLQWKH
PHVVDJHPHPEHURIWKLVVWUXFWXUH,QWKLVFDVHLWZRXOGEHWKH:0B/%87721'2:1
PHVVDJH,QIRUPDWLRQDERXWWKHDUHDRIWKHZLQGRZWKDWWKHPRXVHZDVRYHUZKHQWKHFOLFN
ZDVJHQHUDWHGDQGZKLFKPRXVHEXWWRQZDVSUHVVHGLVSODFHGLQWKHZ3DUDPDQGO3DUDP
PHPEHUV7KHWLPHPHPEHUFRQWDLQVWKHWLPHWKDWWKLVPHVVDJHZDVVHQW7KHSWPHPEHU
FRQWDLQVWKHPRXVHFRRUGLQDWHVDWWKHSRLQWLQWLPHZKHQWKHPRXVHEXWWRQZDVFOLFNHG7KLV
06*GDWDLWHPLVWKHQVHQWWRWKH5,7V\VWHPPHVVDJHTXHXH:KHQWKH5,7GHWHFWVWKLV
PHVVDJHEHLQJVHQWWRLWVV\VWHPPHVVDJHTXHXHLWZDNHVXSDQGSURFHVVHVWKDWPHVVDJH
7KH5,7WKHQEURDGFDVWVWKLVPHVVDJHWRDOO:LQGRZVPHVVDJHTXHXHV7KHPHVVDJHORRS
IRUHDFKPHVVDJHTXHXHGHWHUPLQHVLIWKLVPHVVDJHQHHGVWREHSURFHVVHGDQGLIVRZKLFK
ZLQGRZZLOOGRWKHSURFHVVLQJ7KHKZQGPHPEHURIWKH06*VWUXFWXUHLVXVHGWRGHWHUPLQH
ZKLFKZLQGRZSURFHGXUHZLOOSURFHVVWKLVPHVVDJH
7KH6\VWHP0HVVDJH4XHXH 7KHV\VWHPPHVVDJHTXHXHLVDVLQJOHTXHXHWKDWLVSDUWRIWKHUDZLQSXWWKUHDGWKDWUHFHLYHV
PHVVDJHVIURPWKHNH\ERDUGPRXVHDQGRWKHUKDUGZDUHGHYLFHVYLDWKHKDUGZDUH VGHYLFH
GULYHU,WLVVLPLODUWRDWKUHDG VPHVVDJHTXHXH
7KUHDG0HVVDJH4XHXHV $VLQJOHPHVVDJHTXHXHLVFRQWDLQHGZLWKLQHDFKWKUHDGRIDSURFHVV7KLVPHVVDJHTXHXH
UHFHLYHVPHVVDJHVIURPZLWKLQWKHWKUHDGIURPRWKHUWKUHDGVDQGIURPWKH5,77KH
PHVVDJHTXHXHLVEDVLFDOO\DGRXEO\OLQNHGOLVWZLWKHDFKQRGHLQWKHOLVWFRQWDLQLQJDVLQJOH
PHVVDJH7KLVLVLOOXVWUDWHGLQ)LJXUH$GRXEO\OLQNHGOLVWFRQVLVWVRIQRGHVWKDWFRQWDLQ
SRLQWHUVWRERWKWKHSUHYLRXVQRGHLQWKHOLVWDVZHOODVWKHQH[WQRGHLQWKHOLVW8VLQJWKHVH
SRLQWHUVLWLVSRVVLEOHWRWUDYHUVHWKHOLQNHGOLVWLQERWKDIRUZDUGDQGEDFNZDUGGLUHFWLRQ )LJXUH7KH:LQGRZVPHVVDJHTXHXHDVDGRXEO\OLQNHGOLVW
7KHPHVVDJHTXHXHDOVRDFWVDVD)LUVW,Q)LUVW2XW),)2 TXHXH7KHUHIRUHPHVVDJHVDUH
SXOOHGIURPWKHTXHXHLQWKHVDPHRUGHUDVWKH\ZHUHSXWLQWRWKHTXHXH0HFKDQLVPVDUHLQ
SODFHZKLFKDOORZPHVVDJHVWREHVNLSSHGRUHYHQUHPRYHGZLWKRXWEHLQJVHQWWRDZLQGRZ
7KHVHPHFKDQLVPVDUHDFFHVVHGWKURXJKWKH*HW0HVVDJH$3,IXQFWLRQ
0HVVDJH/RRSV 7KHPHVVDJHTXHXHLWVHOIRQO\TXHXHVXSPHVVDJHVLWGRHVQRWVHQGWKHPDQ\ZKHUH7KH
WKUHDGQHHGVDZD\WRJHWWKHVHPHVVDJHVIURPWKHTXHXHDQGVHQGWKHPWRWKHFRUUHFW
ZLQGRZ7KLVLVZKHUHWKHPHVVDJHORRSVRPHWLPHVFDOOHGWKHPHVVDJHSXPSHQWHUVWKH
SLFWXUH7KHPHVVDJHORRSLVZKDWHQDEOHVWKHPHVVDJHVWREHVHQWIURPDWKUHDG VPHVVDJH
TXHXHWRWKHFRUUHFWZLQGRZSURFHGXUHZLWKLQWKDWWKUHDG$VSUHYLRXVO\PHQWLRQHGDW\SLFDO
PHVVDJHORRSORRNVOLNHWKLVLQ9LVXDO&
ZKLOH*HW0HVVDJH PVJ18//
^
`
7UDQVODWH0HVVDJH PVJ
'LVSDWFK0HVVDJH PVJ
7KHVHORRSVDUHFRQVWDQWO\SROOLQJWKHPHVVDJHTXHXHIRUPHVVDJHVWKDWUHODWHWRZLQGRZV
ZLWKLQWKHWKUHDG$IWHUDPHVVDJHLVIRXQGLWLVVHQWWRWKHFRUUHFWZLQGRZ7KHPHVVDJH
ORRSXVHVWKHK:QGHOHPHQWRIWKHPHVVDJHVWUXFWXUHWKHPHVVDJHVWUXFWXUHLVLQWURGXFHGLQ
WKHQH[WVHFWLRQ WRLGHQWLI\ZKLFKZLQGRZWRVHQGWKHPHVVDJHWR$VXVXDO9%KLGHVWKLV
IXQFWLRQDOLW\IURPWKHGHYHORSHUDVZHOO
(YHQWKRXJKRQO\WKUHHOLQHVRIFRGHDUHLQWKHPHVVDJHORRSDORWJRHVRQKHUH)LUVWWKH
ZKLOHORRSZLOOUXQIRUWKHOLIHRIWKHWKUHDG7KLVLVEHFDXVH*HW0HVVDJHZLOODOZD\VUHWXUQD
QRQ]HURYDOXHZKLFKHYDOXDWHVWRWUXHLQ9LVXDO&H[FHSWZKHQLWUHFHLYHVD:0B48,7
PHVVDJH7KH:0B48,7PHVVDJHUHWXUQVD]HURDQGFDXVHVWKHORRSWREHH[LWHG$IWHUWKH
ORRSLVH[LWHGWKHWKUHDGWHUPLQDWHV
7KH7UDQVODWH0HVVDJH$3,IXQFWLRQUHODWHVRQO\WRPHVVDJHVRULJLQDWLQJIURPWKHNH\ERDUG
7KLVIXQFWLRQWUDQVODWHVYLUWXDONH\PHVVDJHVLQWRFKDUDFWHUPHVVDJHVZKLFKDUHLQWXUQ
SRVWHGEDFNLQWRWKHVDPHWKUHDG VPHVVDJHTXHXH7KLVPHDQVWKDWZKHQDNH\LVSUHVVHG
DYLUWXDONH\PHVVDJHFRPELQDWLRQRI:0B.(<'2:1IROORZHGE\:0B.(<83LVVHQWWRWKH
PHVVDJHTXHXHDVVRFLDWHGZLWKWKDWZLQGRZE\WKH5,77KHVHPHVVDJHVFRQWDLQWKHYLUWXDO
NH\FRGHLGHQWLI\LQJWKHSUHVVHGNH\RQWKHNH\ERDUG7UDQVODWH0HVVDJHZLOOFUHDWHD
:0B&+$5PHVVDJH7KLVPHVVDJHLVWKHQSODFHGEDFNRQWKHTXHXHIURPZKLFKWKH
:0B.(<'2:1DQG:0B.(<83PHVVDJHVRULJLQDWHG7KLVLQIRUPDWLRQZLOOEHFRPHPRUH
XVHIXODVZHVWDUWKRRNLQJNH\ERDUGPHVVDJHV
/DVWO\WKH'LVSDWFK0HVVDJH$3,IXQFWLRQLVFDOOHG7KH'LVSDWFK0HVVDJHIXQFWLRQGRHV
H[DFWO\WKDWLWGLVSDWFKHVWKHPHVVDJHWRWKHZLQGRZZLWKWKHVDPHK:QGDVLQWKHPHVVDJH
VWUXFWXUH,IWKHK:QGLV18//'LVSDWFK0HVVDJHLJQRUHVWKHPHVVDJHDQGUHWXUQV,IK:QG
LVHTXDOWR+:1'B7230267DOOWRSOHYHOZLQGRZVLQWKHV\VWHPDQGQRWMXVWZLWKLQWKH SURFHVVZLOOUHFHLYHWKLVPHVVDJH
0HVVDJHV $PHVVDJHKDVWKHVWUXFWXUH W\SHGHIVWUXFWWDJ06*^
+:1'KZQG
8,17PHVVDJH
:3$5$0Z3DUDP /3$5$0O3DUDP ':25'WLPH 32,17SW
`06* 306*
7KH06*VWUXFWXUHHOHPHQWVZHUHGHILQHGHDUOLHULQWKLVFKDSWHULQ6HFWLRQ
,I\RXFRPSDUHWKHDUJXPHQWVRIWKHZLQGRZSURFHGXUHZLWKWKH06*VWUXFWXUH\RXZLOO
QRWLFHWZRDUJXPHQWVPLVVLQJLQWKHZLQGRZSURFHGXUH7KHWLPHDQGSWYDOXHVDUHQRWVHQW
WRWKHZLQGRZSURFHGXUH)RUWXQDWHO\WZR$3,FDOOVDOORZ\RXWRUHWULHYHWKHWLPHDQGSW
HOHPHQWVLQIRUPDWLRQPDQXDOO\WKH\DUH*HW0HVVDJH7LPHDQG*HW0HVVDJH3RV
7KH'LIIHUHQW7\SHVRI0HVVDJHV 7KHUHDUHPDQ\GLIIHUHQWW\SHVRIPHVVDJHVLQWKH:LQGRZVRSHUDWLQJV\VWHP7KHPHVVDJH
FRQVWDQWVFRQWDLQHGLQWKHPHVVDJHHOHPHQWRIWKH06*VWUXFWXUHKDYHDSUHIL[IROORZHGE\
DQXQGHUVFRUHDQGWKHQWKHQDPHRIWKHPHVVDJH)RUH[DPSOHPHVVDJHVUHODWLQJWRWKH
FRPERER[FRQWURODUHSUHIL[HGE\&%ZKLOHPHVVDJHVUHODWLQJWRPRXVHNH\ERDUG
FOLSERDUGVFUROOEDUDQGVHYHUDORWKHUFRQWUROVKDYHWKHSUHIL[:0$OLVWRIPHVVDJHSUHIL[HV
DSSHDUVLQ7DEOH
7DEOH:LQGRZV0HVVDJH3UHIL[HV 3UHIL[
0HVVDJH7\SH
3UHIL[
0HVVDJH7\SH
$%0
$SSOLFDWLRQGHVNWRSWRROEDU
0&0 0RQWKFDOHQGDUFRQWURO
%0
%XWWRQFRQWURO
3%0
3URJUHVVEDU
&%
&RPERER[FRQWURO
3*0
3DJHUFRQWURO
&%(0 ([WHQGHGFRPERER[FRQWURO
360
3URSHUW\VKHHW
&'0
&RPPRQGLDORJER[
5%
5HEDUFRQWURO
'%7
'HYLFH
6%
6WDWXVEDUZLQGRZ
'/
'UDJOLVWER[
6%0
6FUROOEDUFRQWURO
'0
'HIDXOWSXVKEXWWRQFRQWURO
670
6WDWLFFRQWURO
'70
'DWHDQGWLPHSLFNHUFRQWURO
7%
7RROEDU
(0
(GLWFRQWURO
7%0
7UDFNEDU
+'0
+HDGHUFRQWURO
7&0
7DEFRQWURO
+.0
+RWNH\FRQWURO
770
7RROWLSFRQWURO
,30
,QWHUQHWSURWRFRO,3 DGGUHVVFRQWURO
790
7UHHYLHZFRQWURO
/%
/LVWER[FRQWURO
8'0
8SGRZQFRQWURO
/90
/LVWYLHZFRQWURO
:0
*HQHUDOZLQGRZ
3HUIRUPDQFH&RQVLGHUDWLRQV :KHQLPSOHPHQWLQJVXEFODVVHVDQGKRRNVSHUIRUPDQFHLVDFULWLFDOIDFWRU7RRPXFKFRGH
H[HFXWLQJZLWKLQDKRRNRUDVXEFODVVHGZLQGRZFRXOGHDVLO\EULQJSHUIRUPDQFHGRZQEHORZ
DQXQDFFHSWDEOHOHYHO.HHSWKLVLQWKHIURQWRI\RXUPLQGZKHQZULWLQJWKHFRGHWRKDQGOH
VXEFODVVLQJDQGKRRNV6\VWHPZLGHKRRNVKDYHWKHPRVWSRWHQWLDOWRGHJUDGHSHUIRUPDQFH
,ZLOOGLVFXVVZKHUHWKHVHSHUIRUPDQFHERWWOHQHFNVFDQDULVHDVZHSURJUHVVWKURXJKWKLV
ERRN
&KDSWHU7KH%DVLFVRI6XEFODVVLQJDQG+RRNV 7KLVFKDSWHUZLOOLQWURGXFHKRZVXEFODVVLQJDQGKRRNVRSHUDWH,ZLOOXVHELWVDQGSLHFHVRI FRGHLQVWHDGRIFRPSOHWHH[DPSOHVVRWKDWZHFDQIRFXVRQWKHEDVLFVRIKRRNLQJDQG
VXEFODVVLQJ7KHILQHUGHWDLOVRIWKHFRGHZLOOEHFRYHUHGLQWKHUHPDLQGHURIWKLVERRN
7KLVFKDSWHULVEURNHQXSLQWRWZRVHFWLRQV7KHILUVWVHFWLRQGHDOVZLWKVXEFODVVLQJDQGKRZ
LWZRUNVDVZHOODVZKDWLWLVXVHIXOIRU7KHVHFRQGVHFWLRQGHDOVZLWKWKHKRRNLQJ
PHFKDQLVPLQDVLPLODUIDVKLRQ2IWKHWZRODQJXDJHV,XVH,ZLOOIRFXVDVPXFKDVSRVVLEOH
RQ9LVXDO%DVLF9% DQGXVH9LVXDO&RQO\ZKHQ9%KDVUHDFKHGLWVOLPLWV
:KDW,V6XEFODVVLQJ" 7KHLGHDEHKLQGVXEFODVVLQJLVVLPSOHLPSOHPHQWLQJLWLVQRWVRVLPSOH6XEFODVVLQJLVLQ
VLPSOHWHUPVWKHFUHDWLRQRIDQHZZLQGRZSURFHGXUHZKLFKLVLQVHUWHGLQWRWKHPHVVDJH
VWUHDPMXVWEHIRUHWKHGHIDXOWZLQGRZSURFHGXUHWKDWHYHU\ZLQGRZLQLWLDOO\VWDUWVRXWZLWK, XVHWKHWHUPPHVVDJHVWUHDPWRGHQRWHWKHSDWKDPHVVDJHWDNHVIURPLWVVRXUFHWRLWV
GHVWLQDWLRQ
7KLVLVQRWWRVD\WKDWVXEFODVVLQJLVQRWGDQJHURXVZKHQLPSOHPHQWHGLQFRUUHFWO\RUZLWKRXW
UHJDUGWRRWKHUSURFHVVHVUXQQLQJLQWKHRSHUDWLQJV\VWHP%XWE\XQGHUVWDQGLQJWKH
PHVVDJLQJV\VWHPDQGIROORZLQJLWVUXOHVZHFDQVDIHO\XVHVXEFODVVLQJ
7KHGDQJHUVRIVXEFODVVLQJDUHZKDWVWRSPDQ\SURJUDPPHUVIURPOHDUQLQJDQGXVLQJ
VXEFODVVLQJLQWKHLUSURMHFWV7KHIRUHPRVWGDQJHUZLWKVXEFODVVLQJLVFDXVLQJD*HQHUDO
3URWHFWLRQ)DXOW*3) *3)VDUHFULWLFDOHUURUVWKDWZLOOHLWKHUFDXVH\RXUDSSOLFDWLRQV\VWHP
WRVWRSIXQFWLRQLQJRUFDXVHWKHDSSOLFDWLRQV\VWHPWRVKXWGRZQ,I\RXDUHUXQQLQJDQ
DSSOLFDWLRQLQWKH9%,'(DQGLWFDXVHVD*3)QRWRQO\LVWKHDSSOLFDWLRQVKXWGRZQEXWDOVR
WKH,'(7KLVLVEHFDXVHERWKDUHUXQQLQJLQWKHVDPHSURFHVVDQGD*3)ZLOOFDXVHWKDW
SURFHVVWRWHUPLQDWH
6HYHUDOWKLQJVFDXVH*3)V7KH\LQFOXGH • • • • •
8VLQJDSRLQWHUYDULDEOHWKDWSRLQWVWRDQLQYDOLGORFDWLRQLQPHPRU\
7U\LQJWRUHDGIURPPHPRU\WKDWLVQRWDFFHVVLEOHIURPWKHDSSOLFDWLRQHJLQD
VHSDUDWHSURFHVVPHPRU\VSDFH
7U\LQJWRZULWHWRPHPRU\WKDWLVQRWDFFHVVLEOHIURPWKHDSSOLFDWLRQHJLQD
VHSDUDWHSURFHVVPHPRU\VSDFH
5HDGLQJRUZULWLQJSDVWDQDUUD\RUVWULQJERXQGDU\
,QFRUUHFWO\FDOOLQJDG\QDPLFOLQNOLEUDU\'// IXQFWLRQ
*3)VDUHHOXVLYHSUREOHPVIRUWKH9%SURJUDPPHUWRWUDFNGRZQLQIDFWWKH\ UHHYHQHOXVLYH
SUREOHPVIRUWKH&SURJUDPPHUWRWUDFNGRZQ7KDWLVZK\XVLQJWRROVVXFKDV1X0HJD
%RXQGV&KHFNHUDQG0LFURVRIW6S\ZKLFKDUHGLVFXVVHGLQ&KDSWHU DUHQHFHVVDU\ ZKHQWUDFNLQJGRZQKDUGWRILQGSUREOHPVVXFKDVWKHVH
7KHPRVWSUHYDOHQWUHDVRQWKDW*3)VDUHFDXVHGLQVXEFODVVLQJRUKRRNLQJDSSOLFDWLRQVLV
WKHXVHRILQYDOLGSRLQWHUV$QLQYDOLGSRLQWHULVDYDULDEOHWKDWFRQWDLQVWKHDGGUHVVWRD
PHPRU\ORFDWLRQWKDWZDVQRWDOORFDWHGFRUUHFWO\E\WKHDSSOLFDWLRQ6XEFODVVLQJDQGKRRNLQJ
UHO\KHDYLO\RQSRLQWHUVVSHFLILFDOO\RQIXQFWLRQSRLQWHUVXVHGWRDFFHVVFDOOEDFNIXQFWLRQV
DQGRQSRLQWHUVWRGDWDUHWXUQHGLQDPHVVDJHDUJXPHQW9LVXDO%DVLFGHYHORSHUVRUGLQDULO\
GRQRWKDYHWRGHDOZLWKSRLQWHUVLQWKHVDPHZD\DV9LVXDO&SURJUDPPHUVGR3RLQWHUV
DUHZHOOKLGGHQLQWKH9%HQYLURQPHQW%XWWKURXJKWKHPDQLSXODWLRQRIPHVVDJHSDUDPHWHUV
DQGWKHXVHRIPRUHDGYDQFHGDSSOLFDWLRQSURJUDPPLQJLQWHUIDFH$3, IXQFWLRQVWKH9%
GHYHORSHUVRRQILQGVKHUVHOIQHFNGHHSLQSRLQWHUV7DNHIRUH[DPSOHWKH*HW&ODVV,QIR([
$3,IXQFWLRQWKDWZDVLQWURGXFHGLQ&KDSWHU7KHWKLUGDQGILQDODUJXPHQWWRWKLVIXQFWLRQLV DSRLQWHUWRD:1'&/$66(;VWUXFWXUH:LWKRXWNQRZOHGJHRIKRZWRXVHWKH&RS\0HPRU\
$3,IXQFWLRQWRJHWWRWKHVWUXFWXUHWKH9%SURJUDPPHULVORVW
$QRWKHUUHDVRQIRU*3)VLQWKHVHW\SHVRIDSSOLFDWLRQVLVWKDW9%XVHV:LQGRZV$3,
IXQFWLRQVH[WHQVLYHO\WRPDNHVXEFODVVLQJDQGKRRNLQJZRUN0DNLQJDVLPSOHHUURULQFDOOLQJ
DQ$3,IXQFWLRQFRXOGHDVLO\UHVXOWLQD*3)(UURUVLQFDOOLQJ$3,IXQFWLRQVXVXDOO\RFFXU
EHFDXVHRIGHFODULQJRUFDOOLQJDQ$3,IXQFWLRQLQFRUUHFWO\7ZRRIWKHPRVWFRPPRQVRXUFHV
RIHUURUVLQFDOOLQJ:LQ$3,IXQFWLRQVLQFOXGH • •
)DLOLQJWRXVH%\9DOFRUUHFWO\LQWKHGHFODUDWLRQRIDQ$3,IXQFWLRQ
3DVVLQJLQDVWULQJWRDQ$3,IXQFWLRQWKDWLVQRWFRUUHFWO\WHUPLQDWHGZLWKD18//
$V,WDNH\RXWKURXJKHDFKVWHSRIWKHSURFHVV,ZLOOSRLQWRXWWKHSLWIDOOVDQGSRWHQWLDOWURXEOH
DUHDVWKDW\RXZLOOHQFRXQWHU+RZHYHUE\UHDGLQJWKLVERRNDQGIROORZLQJLWVJXLGHOLQHVIRU
VXEFODVVLQJ\RXZLOOJDLQWKHVNLOOVQHHGHGWRVDIHO\LQFRUSRUDWHVXEFODVVLQJDQGKRRNLQJLQWR
\RXUDSSOLFDWLRQV
+RZ'RHV6XEFODVVLQJ:RUN" $V,VDLGVXEFODVVLQJLQYROYHVLQVHUWLQJDXVHUGHILQHGZLQGRZSURFHGXUHULJKWEHIRUHWKH GHIDXOWZLQGRZSURFHGXUHLVFDOOHG
6RWKHREMHFWWKDWZHDUHVXEFODVVLQJPXVWKDYHDZLQGRZSURFHGXUH7KLVPHDQVWKDWZH
ZLOOEHGHDOLQJZLWKZLQGRZVWKRXJKWKHWHUPZLQGRZLVWREHXQGHUVWRRGYHU\EURDGO\ZH
FDQVXEFODVVD9%IRUPDVZHOODVDEXWWRQFRPERER[RUHYHQDVFUROOEDU$FWLYH;FRQWUROV
ZHFUHDWHRXUVHOYHVWKURXJK9%DOVRFDQEHVXEFODVVHGMXVWOLNHDQ\RWKHUZLQGRZLQWKH RSHUDWLQJV\VWHPFDQ
7KHUHDUHWZRFDYHDWVSHUWDLQLQJWRWKHSUHYLRXVSDUDJUDSK)RUDZLQGRZWREHVXEFODVVHGLW
PXVWKDYHDZLQGRZKDQGOHK:QG 7KLVK:QGLVVHQWDVDQDUJXPHQWWRWKH
6HW:LQGRZ/RQJ3WU$3,IXQFWLRQZKLFKZLOOEHGHVFULEHGLQGHWDLOODWHULQWKLVFKDSWHU,IWKH FRQWUROKDVQRK:QGWKHFDOOWR6HW:LQGRZ/RQJ3WUZLOOIDLO:LQGRZOHVVRUOLJKWZHLJKW
FRQWUROVGRQRWKDYHZLQGRZKDQGOHVDQGWKHUHIRUHFDQQRWEHVXEFODVVHG7KHIROORZLQJ
FRQWUROVKDYHQRZLQGRZKDQGOHDQGDUHFRQVLGHUHGZLQGRZOHVV • • • • • • • • • • • • •
/DEHO
/LQH
6KDSH ,PDJH
:/&KHFN&RQWUROFRQWDLQHGLQ06:/HVV2&;VKLSSHGZLWK9%
:/&RPER&RQWUROFRQWDLQHGLQ06:/HVV2&;VKLSSHGZLWK9%
:/&RPPDQG&RQWUROFRQWDLQHGLQ06:/HVV2&;VKLSSHGZLWK9% :/)UDPH&RQWUROFRQWDLQHGLQ06:/HVV2&;VKLSSHGZLWK9%
:/+6FUROO&RQWUROFRQWDLQHGLQ06:/HVV2&;VKLSSHGZLWK9% :/96FUROO&RQWUROFRQWDLQHGLQ06:/HVV2&;VKLSSHGZLWK9%
://LVW&RQWUROFRQWDLQHGLQ06:/HVV2&;VKLSSHGZLWK9%
:/2SWLRQ&RQWUROFRQWDLQHGLQ06:/HVV2&;VKLSSHGZLWK9%
:/7H[W&RQWUROFRQWDLQHGLQ06:/HVV2&;VKLSSHGZLWK9%
7KHVHFRQGFDYHDWLVWKDWDQ\ZLQGRZRXWVLGHRIWKHSURFHVVWKDWLVSHUIRUPLQJWKH
VXEFODVVLQJFDQQRWEHVXEFODVVHG,QRWKHUZRUGVSURFHVV$FDQQRWVXEFODVVDZLQGRZLQ
SURFHVV%7KLVLVEHFDXVHWKHDGGUHVVVSDFHRIDSURFHVVLVRIIOLPLWVWRDOORWKHUSURFHVVHV
7KLVOLPLWDWLRQSURWHFWVDSSOLFDWLRQVIURPZULWLQJRUUHDGLQJPHPRU\ZLWKLQDQRWKHU
DSSOLFDWLRQ VDGGUHVVVSDFH'RLQJVRFRXOGFDXVHD*3)ZKLFKZRXOGFUDVKWKHRIIHQGLQJ
DSSOLFDWLRQDQGSRVVLEO\RWKHUV
$VZHVDZLQ&KDSWHUDOOZLQGRZVGHULYHIURPDZLQGRZFODVV7KLVZLQGRZFODVVKDVWKH OSIQ:QG3URFHOHPHQWLQLWVVWUXFWXUHOSIQ:QG3URFLVDSRLQWHUWRDIXQFWLRQWKDWLVLW
FRQWDLQVWKHDGGUHVVRIDIXQFWLRQLQWKLVFDVHWKHDGGUHVVRIWKHGHIDXOWZLQGRZSURFHGXUH
WKDWZDVFUHDWHGZKHQWKHZLQGRZFODVVZDVUHJLVWHUHG)XQFWLRQSRLQWHUVZLOOEHGLVFXVVHG
LQJUHDWHUGHSWKLQ&KDSWHU (YHU\PHVVDJHGLUHFWHGWRWKLVZLQGRZZLOOEHVHQWWRWKH
ZLQGRZSURFHGXUHSRLQWHGWRE\WKHOSIQ:QG3URFIXQFWLRQSRLQWHU7KLVIXQFWLRQSRLQWHULVWKH
NH\WRVXEFODVVLQJ2XUPDLQPLVVLRQLVWRFKDQJHWKHOSIQ:QG3URFIXQFWLRQSRLQWHUWRSRLQW
WRDZLQGRZSURFHGXUHWKDWZHFUHDWH)LJXUHLOOXVWUDWHVWKLVSDUWRIWKHSURFHVV$V)LJXUH VKRZVWKHGHIDXOWZLQGRZSURFHGXUHLVQRWGHVWUR\HG,WVWLOOSOD\VDQDFWLYHUROHLQ KDQGOLQJPHVVDJHV
)LJXUH,QVHUWLQJDQHZZLQGRZSURFHGXUHEHIRUHWKHGHIDXOWZLQGRZSURFHGXUHGXULQJ VXEFODVVLQJ
%HIRUHZHPRGLI\WKHOSIQ:QG3URFIXQFWLRQSRLQWHUZHQHHGWRKDYHDIXQFWLRQIRULWWRSRLQW
WR6RWKHILUVWELWRIFRGHZHQHHGWRZULWHLVRXURZQZLQGRZSURFHGXUH7KLVFXVWRPFRGHLV
UHVSRQVLEOHIRUKDQGOLQJDOOPHVVDJHVRUMXVWVSHFLILFPHVVDJHVLQWKHZD\WKDW\RXZDQW
DQGE\LPSOLFDWLRQLQDZD\WKDW VGLIIHUHQWIURPWKHGHIDXOWZLQGRZSURFHGXUH2WKHUZLVH
ZKDWZRXOGEHWKHSRLQWRIVXEFODVVLQJ" 7KLVFRGHXVXDOO\WDNHVWKHIRUPRIDODUJH6HOHFW
&DVHVWDWHPHQWZKLFKZH OORPLWLQWKLVFKDSWHU,WGRHVQRWPDWWHUZKDWZHFDOOWKH
SURFHGXUHVR, OOXVHWKHJHQHULFQDPHRI:LQ3URF7KHSDUDPHWHUVDQGUHWXUQYDOXHDUHYHU\
LPSRUWDQWWRWKHSURSHURSHUDWLRQRIWKLVQHZZLQGRZSURFHGXUH5HPHPEHUWKHPHVVDJH
ORRSZLOOEHFDOOLQJRXUQHZZLQGRZSURFHGXUHVRLWH[SHFWVWKHVDPHIXQFWLRQVLJQDWXUHDV
WKHGHIDXOWZLQGRZSURFHGXUH$VZHVDZLQ&KDSWHUWKHGHIDXOWZLQGRZSURFHGXUHKDVWKH IROORZLQJ&ODQJXDJHSURWRW\SH
/5(68/7&$//%$&.:LQGRZ3URF
+:1'+:1'KDQGOHWRZLQGRZ
8,17X0VJPHVVDJHLGHQWLILHU
:3$5$0Z3DUDPILUVWPHVVDJHSDUDPHWHU
/3$5$0O3DUDPVHFRQGPHVVDJHSDUDPHWHU
:HFDQWUDQVODWHWKLVLQWR9%DVIROORZV 3XEOLF)XQFWLRQ:LQ3URFB
%\9DOKZQG$V/RQJB
%\9DOX0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
(QG)XQFWLRQ
2IFRXUVHWKLVIXQFWLRQKDVQRFRGHVRLWLVSUHWW\PXFKXVHOHVVDWWKLVSRLQW,QIDFWLWFDQEH
ZRUVHWKDQXVHOHVVDVZHZLOOVHHDOLWWOHODWHUWKLVIXQFWLRQFDQFDXVHVRPHRUDOORSHQ
DSSOLFDWLRQVWRVWRSUHVSRQGLQJWRLQSXW
1RZZHKDYHDQHZZLQGRZSURFHGXUHEXWQRZD\RIXVLQJLW7RXVHLWZHQHHGWRSODFHLW
EHIRUHWKHGHIDXOWPHVVDJHSURFHGXUHLQWKHPHVVDJHVWUHDP)RUWKLVSXUSRVHZHFDQFDOO
WKH6HW:LQGRZ/RQJ3WU$3,IXQFWLRQZKLFKPRGLILHVDSDUWLFXODUDWWULEXWHRIDVSHFLILF
ZLQGRZ7KH:LQDQG:LQ$3,VDOVRLQFOXGHDQRWKHUIXQFWLRQ6HW:LQGRZ/RQJWKDW\RX
FDQXVHWRLQVHUW\RXUQHZZLQGRZSURFHGXUH+RZHYHUZHGRQRWUHFRPPHQGLWVXVH
EHFDXVHLWPDNHVFRQYHUVLRQWRELW:LQGRZVGLIILFXOW6HHWKHVLGHEDURQELW
FRPSDWLELOLW\ODWHULQWKLVVHFWLRQ 7KH9%GHFODUDWLRQIRUWKH6HW:LQGRZ/RQJ3WU$3,IXQFWLRQ
LV
'HFODUH)XQFWLRQ6HW:LQGRZ/RQJ3WU/LEXVHU$OLDV6HW:LQGRZ/RQJ$B
%\9DOKZQG$V/RQJB
%\9DOQ,QGH[$V/RQJB
%\9DOGZ1HZ/RQJ$V/RQJ $V/RQJ
7KHIXQFWLRQKDVWKHIROORZLQJSDUDPHWHUV K:QG
Q,QGH[
7KHKDQGOHRIWKHZLQGRZZKRVHDWWULEXWHLVWREHPRGLILHG,WFDQEHREWDLQHGE\
UHWULHYLQJWKHYDOXHRIDIRUPRUFRQWURO VK:QGSURSHUW\
$/RQJLQGLFDWLQJWKHZLQGRZDWWULEXWHWREHPRGLILHG$QXPEHURIYDOXHVDUH
SRVVLEOHWKRXJKWKHYDOXHXVHGWRUHSODFHDZLQGRZSURFHGXUHLV
*:/3B:1'352&RU1RWHWKDW\RXPXVWXVHWKH&RQVWVWDWHPHQWWRGHILQHWKH
FRQVWDQW\RXUVHOILI\RXFKRRVHWRXVHLW
GZ1HZ/RQJ
7KHUHSODFHPHQWYDOXH)RUDVXEFODVVHGZLQGRZWKLVSDUDPHWHUUHSUHVHQWVWKH
DGGUHVVRIWKHQHZZLQGRZSURFHGXUH
SURFHGXUHE\SDVVLQJLWVQDPHDVDQDUJXPHQWWRWKH$GGUHVV2IRSHUDWRU
,IWKHFDOOWR6HW:LQGRZ/RQJ3WUVXFFHHGVWKHIXQFWLRQUHWXUQVWKHRULJLQDOYDOXHEHIRUH
UHSODFHPHQWLQWKLVFDVHWKHRULJLQDODGGUHVVRIWKHZLQGRZSURFHGXUH ,ILWIDLOVLWUHWXUQV
]HUR
ELW&RPSDWLELOLW\
7RPDNH\RXUDSSOLFDWLRQVSRUWDEOHWRWKHXSFRPLQJELW:LQGRZV RSHUDWLQJV\VWHP\RXPXVWIROORZVRPHVLPSOHUXOHV%HIRUH
FRQWLQXLQJ\RXPLJKWZDQWWRLQVWDOOWKHODWHVW3ODWIRUP6RIWZDUH
'HYHORSPHQW.LWRU6'.WKHUHLVDOVRDQHZ3ODWIRUP'HYLFH'ULYHU
.LWRU''. IURPWKH0LFURVRIWZHEVLWHDWKWWSPVGQPLFURVRIWFRP
7KLVLVDUDWKHUODUJHILOHEXW\RXFDQGRZQORDGDQGLQVWDOORQO\WKH
SLHFHVWKDWDUHRILQWHUHVWWR\RX,I\RXDUHJRLQJWRSURJUDPVROHO\LQ
WKH9%HQYLURQPHQWLWLVRSWLRQDOIRU\RXWRGRZQORDGWKLVLQIRUPDWLRQ %HIRUHZDUQHGWKRXJKWKDWDQ\GRFXPHQWVFRQWDLQLQJELW :LQGRZVWRSLFVDUHVXEMHFWWRFKDQJH
0LFURVRIWLVPDNLQJWKHWUDQVLWLRQIURPELWWRELWDVHDV\DV
SRVVLEOHIRUWKHGHYHORSHU7KHRUHWLFDOO\LI\RXIROORZWKHVHVHYHQ UXOHV\RXUFRGHVKRXOGFRPSLOHDQGUXQRQERWKSODWIRUPV7KHVH
UXOHVDUHJHDUHGWRZDUGWKH9LVXDO&GHYHORSHU7KHUXOHVDUHDV IROORZV
3RLQWHUVFDQQRWEHFDVWWRLQWORQJ8/21*RU':25'W\SHV ,IDELWSRLQWHULVQHFHVVDU\XVHRQO\WKH3WU7R/RQJDQG
3WU7R8ORQJIXQFWLRQVLQWKH%DVHWVGKKHDGHUILOHWRWUXQFDWH
ELWSRLQWHUVWRELWSRLQWHUV1RWHWKDWFRQYHUWLQJDELW
SRLQWHUWRDELWSRLQWHULVH[WUHPHO\GDQJHURXVEHFDXVHWKH XSSHUKDOIRIWKHSRLQWHU VLQIRUPDWLRQLVUHPRYHG
7DNHFDUHZKHQFDVWLQJDSRLQWHUUHWXUQHGIURPDQ$3, IXQFWLRQ&DVWLQJDUHWXUQHGSRLQWHUFRXOGFRUUXSWLW
8VLQJWKH':25'GDWDW\SHIRUSRO\PRUSKLFLQSXWSDUDPHWHUVWR DIXQFWLRQZLOOFDXVHSUREOHPVLQVWHDGXVHWKH8,17B375RU 392,'GDWDW\SHV
5HSODFHWKHVH$3,FDOOV *HW:LQGRZ/RQJ 6HW:LQGRZ/RQJ
*HW&ODVV/RQJ 6HW&ODVV/RQJ
ZLWKWKHVH$3,FDOOV *HW:LQGRZ/RQJ3WU
6HW:LQGRZ/RQJ3WU
6HW&ODVV/RQJ3WU
*HW&ODVV/RQJ3WU
:KHQDFFHVVLQJWKHH[WUDE\WHVRIDFODVVRUZLQGRZXVHWKH ),(/'B2))6(7PDFURWRJHWWKHRIIVHWYDOXHIRUWKHGDWD\RX
QHHG7KHFE&OV([WUDDQGFE:QG([WUDPHPEHUVRIWKH
:1'&/$66(;VWUXFWXUHDOORFDWHPHPRU\IRUWKHVHH[WUDE\WHV
/3$5$0:3$5$0DQG/5(68/7DUHDOOELWVZLGH'RQRWXVH
':25'8/21*8,17,17LQWRUORQJGDWDW\SHVZLWKWKHVHW\SHV
EHFDXVHWKH\PLJKWWUXQFDWHWKHP
7KHPRVWREYLRXVFKDQJHEHWZHHQELWDQGELWV\VWHPVLVWKH
GDWDW\SHV$ELWSRLQWHULVELWVZLGHDELWSRLQWHULVELWV
ZLGH7KLVDOORZVIRUDJUHDWGHDOPRUHPHPRU\WREHDFFHVVHGE\D VLQJOHSURFHVVWHUDE\WHVWREHH[DFW
7KHQHZ3ODWIRUP6'.DOVRFRQWDLQVDV\QWD[FKHFNHUZKLFKZRUNV
ZLWKWKH9LVXDO&FRPSLOHUWRGHWHFWSUREOHPVLQ\RXUFRGHWKDWZLOO PDNHLWGLIILFXOWWRSRUWIURPELWFRGHWRELWFRGH
$VIRU9%GHYHORSHUVZHFXUUHQWO\QHHGWRPDNHRQO\RQHFKDQJHWR
RXUFRGHWRDOORZXVWRUXQRXUDSSOLFDWLRQVRQELWDVZHOODVELW :LQGRZVRSHUDWLQJV\VWHPV7KHFKDQJHGFRGHLVVKRZQKHUH ,I:LQ7KHQ
3ULYDWH'HFODUH)XQFWLRQ6HW:LQGRZ/RQJ3WU/LEXVHUB
$OLDV6HW:LQGRZ/RQJ$B
%\9DOKZQG$V/RQJ%\9DOQ,QGH[$V/RQJB
%\9DOGZ1HZ/RQJ$V/RQJ $V/RQJ
3ULYDWH'HFODUH)XQFWLRQ6HW&ODVV/RQJ3WU/LEXVHUB
$OLDV6HW&ODVV/RQJ$BB
%\9DOKZQG$V/RQJ%\9DOQ,QGH[$V/RQJB
%\9DOGZ1HZ/RQJ$V/RQJ $V/RQJ
3ULYDWH&RQVW*:/B+,167$1&(
3ULYDWH&RQVW*:/B:1'352&
3ULYDWH&RQVW*:/B86(5'$7$
3ULYDWH&RQVW*:/B+:1'3$5(17 3ULYDWH&RQVW*&/B0(181$0(
3ULYDWH&RQVW*&/B+%5%$&.*5281'
3ULYDWH&RQVW*&/B+&85625 3ULYDWH&RQVW*&/B+,&2160
3ULYDWH&RQVW*&/B+02'8/(
3ULYDWH&RQVW*&/B:1'352& 3ULYDWH&RQVW':/B06*5(68/7 3ULYDWH&RQVW':/B'/*352&
3ULYDWH&RQVW':/B86(5
(OVH,I1RW:LQ$QG1RW:LQ7KHQ
3ULYDWH'HFODUH)XQFWLRQ6HW:LQGRZ/RQJ3WU/LEXVHUBB $OLDV6HW:LQGRZ/RQJ3WU$BB
%\9DOKZQG$V/RQJ%\9DOQ,QGH[$V/RQJB
%\9DOGZ1HZ/RQJ$V/RQJ $V/RQJ
3ULYDWH'HFODUH)XQFWLRQ6HW&ODVV/RQJ3WU/LEXVHUB
$OLDV6HW&ODVV/RQJ$3WU$BB
%\9DOKZQG$V/RQJ%\9DOQ,QGH[$V/RQJB
%\9DOGZ1HZ/RQJ$V/RQJ $V/RQJ
3ULYDWH&RQVW*:/3B+,167$1&( 3ULYDWH&RQVW*:/3B:1'352&
3ULYDWH&RQVW*:/3B86(5'$7$
3ULYDWH&RQVW*:/3B+:1'3$5(17
3ULYDWH&RQVW*:/3B,'
3ULYDWH&RQVW*&/3B0(181$0(
3ULYDWH&RQVW*&/3B+%5%$&.*5281' 3ULYDWH&RQVW*&/3B+&85625 3ULYDWH&RQVW*&/3B+,&2160 3ULYDWH&RQVW*&/3B+02'8/(
3ULYDWH&RQVW*&/3B:1'352& 3ULYDWH&RQVW':/3B06*5(68/7
3ULYDWH&RQVW':/3B'/*352&
3ULYDWH&RQVW':/3B86(5
6HW:LQGRZ/RQJ3WUDQG6HW&ODVV/RQJ3WUDUHERWKGHILQHGWREHLQ
8VHU'//UHJDUGOHVVRIWKHSODWIRUP7KHRQO\GLIIHUHQFHLQWKH ELWDQGELW9%$3,GHFODUDWLRQVLVWKHDOLDVZKLFKSRLQWVWRWKH H[SRUWHGIXQFWLRQQDPHLQ8VHU'//7KLVFRGHZLOODOORZ\RXU
DSSOLFDWLRQVWRSRUWHDVLO\WRWKHELW:LQGRZVRSHUDWLQJV\VWHP
1RWHWKDWWKH0LFURVRIWGRFXPHQWDWLRQIRU:LQLVVXEMHFWWRFKDQJH WKHUHIRUHWKHFRGHSUHVHQWHGKHUHDOVRLVVXEMHFWWRFKDQJH
7KHZD\WKLVIXQFWLRQLVXVHGWRVXEFODVVDZLQGRZLVVKRZQEHORZ
3ULYDWHO2ULJ:LQ3URFDV/RQJ
6XE)RUPB/RDG
(QG6XE
O2ULJ:LQ3URF 6HW:LQGRZ/RQJ3WU)RUPKZQGB
*:/3B:1'352&$GGUHVV2I:LQ3URF
7KLVFRGHVXEFODVVHVWKH)RUPZLQGRZLQD9%DSSOLFDWLRQ7KHILUVWDUJXPHQWWR
6HW:LQGRZ/RQJ3WULVWKHKDQGOHWRWKHZLQGRZWREHVXEFODVVHG7KHVHFRQGDUJXPHQWLV
WKH*:/3B:1'352&FRQVWDQWZKLFKWHOOV6HW:LQGRZ/RQJ3WUWKDWZHDUHJRLQJWRUHSODFH
WKHSRLQWHUWRWKHZLQGRZSURFHGXUHRIWKH)RUPZLQGRZ7KHYDOXHRI*:/3B:1'352&LV
7KHWKLUGDUJXPHQWLVWKHSRLQWHUWRRXUQHZZLQGRZSURFHGXUH7KLVODVWDUJXPHQWXVHV
WKH$GGUHVV2IRSHUDWRULQWURGXFHGLQ9%WRSURYLGHDSRLQWHUWRRXUQHZZLQGRZ
SURFHGXUHIXQFWLRQ7KH$GGUHVV2IRSHUDWRULVZKDW9%GHYHORSHUVZHUHZDLWLQJIRUWRXVH
IXQFWLRQFDOOEDFNVDQGVXEFODVVLQJLQWKHLUDSSOLFDWLRQVZLWKRXWUHO\LQJRQWKLUGSDUW\SURGXFWV
:HZLOOGLVFXVVLWLQJUHDWHUGHSWKLQ&KDSWHU $IWHUWKH6HW:LQGRZ/RQJ3WUIXQFWLRQKDV VXFFHHGHGLWUHWXUQVWKHZLQGRZ VRULJLQDOZLQGRZSURFHGXUHSRLQWHU'RQRWFKDQJHRU
GLVFDUGWKHYDOXHRIWKLVSRLQWHURUHOVHWKHRULJLQDOZLQGRZSURFHGXUHZLOOEHORVW:HQHHGWR
NHHSWKLVVDIHO\WXFNHGDZD\LQWKHO2ULJ:LQ3URFYDULDEOHIRUXVHODWHU
2.VRQRZZHKDYHRXURZQZLQGRZSURFHGXUHLQSODFH7KLVPHDQVWKDWWKHOSIQ:QG3URF
IXQFWLRQSRLQWHULVFXUUHQWO\SRLQWLQJWRRXUQHZZLQGRZSURFHGXUHIXQFWLRQFDOOHG:LQ3URF
DQGWKDWWKHGHIDXOWZLQGRZSURFHGXUHZLOOQRWEHXVHG+RZHYHUWKLVLVKLJKO\XQGHVLUDEOH
WKHGHIDXOWZLQGRZSURFHGXUHFRQWDLQVWKHPLQLPDODPRXQWRIFRGHUHTXLUHGWRXVHDZLQGRZ
)RULQVWDQFHWKHGHIDXOWZLQGRZSURFHGXUHFRQWDLQVWKHFRGHWRSDLQWWKHZLQGRZRQWKH
VFUHHQZKHQLWUHFHLYHVD:0B3$,17PHVVDJH:HQHHGWRPDNHVXUHWKDWWKLVSDLQWLQJ
IXQFWLRQDOLW\ZRUNVRUHOVHWKHZLQGRZZLOOVWRSSDLQWLQJLWVHOI:HFRXOGKDQGOHWKLVE\DGGLQJ
DOOWKHQHFHVVDU\FRGHWRRXURZQZLQGRZSURFHGXUHWKRXJKWKLVLVDQXQQHFHVVDU\
GXSOLFDWLRQRIFRGH,QVWHDGLW VPXFKHDVLHUDQGPRUHHIILFLHQWWRVLPSO\VHQGWKH
:0B3$,17PHVVDJHRQWRWKHGHIDXOWPHVVDJHSURFHGXUH
,QRWKHUZRUGVWRJHWWKHPLQLPDOIXQFWLRQDOLW\RXWRIRXUQHZZLQGRZSURFHGXUHZHQHHGWR
SDVVWRWKHGHIDXOWZLQGRZSURFHGXUHWKHPHVVDJHWKDW:LQ3URFRXUFXVWRPPHVVDJH
KDQGOHUUHFHLYHV7KLVJXDUDQWHHVXVWKDWWKHGHIDXOWIXQFWLRQDOLW\RIRXU)RUPZLQGRZZLOO
VWLOOEHLQSODFHZKHQZHXVHLW:HFDQGRWKLVE\FDOOLQJWKH&DOO:LQGRZ3URF$3,IXQFWLRQ
ZKLFKLVGHFODUHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ&DOO:LQGRZ3URF/LEXVHUB
$OLDV&DOO:LQGRZ3URF$B
%\9DOO3UHY:QG)XQF$V/RQJB
%\9DO0VJ$V/RQJB
%\9DOK:QG$V/RQJB
%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
&DOO:LQGRZ3URFKDVWKHIROORZLQJSDUDPHWHUV O3UHY:QG)XQF
$SRLQWHUWRWKHZLQGRZSURFHGXUHWREHFDOOHG,QWKHFDVHRIRXUH[DPSOHWKLVLVD
SRLQWHUWRWKHGHIDXOWZLQGRZSURFHGXUHWKDWZHVDYHGLQWKHO2ULJ:LQ3URFYDULDEOH ZKHQLQVHUWLQJWKHQHZZLQGRZSURFHGXUHLQWRWKHPHVVDJHVWUHDP
K:QG, 0VJ, Z3DUDP, and O3DUDP
7KHVHSDUDPHWHUVPDWFKSHUIHFWO\LQQXPEHUDQGLQW\SHWRWKHSDUDPHWHUVLQWKH
:LQ3URFIXQFWLRQ7KH\VLPSO\DOORZWKHPHVVDJHLQIRUPDWLRQWREHSDVVHGRQWRWKH
GHIDXOWZLQGRZSURFHGXUH
7KLVIXQFWLRQ VUHWXUQYDOXHGHSHQGVRQWKHW\SHRIPHVVDJHLGHQWLILHGE\WKH0VJDUJXPHQW
SURFHVVHG
$IWHULQVHUWLQJWKLVIXQFWLRQLQWRRXU:LQ3URFIXQFWLRQ:QG3URFORRNVOLNHWKLV
3XEOLF)XQFWLRQ:LQ3URF%\9DOKZQG$V/RQJB
%\9DOZ3DUDP$V/RQJB
6HOHFW&DVHVWUXFWXUHWRKDQGOHPHVVDJHVJRHVKHUH
:LQ3URF &DOO:LQ3URFO2ULJ:LQ3URFKZQGX0VJZ3DUDPO3DUDP
%\9DOX0VJ$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
(QG)XQFWLRQ
:LWKRXUFXVWRPZLQGRZSURFHGXUHLQSODFHZHFDQGRVRPHUHDOO\SRZHUIXOWKLQJV(YHU\
PHVVDJHGLUHFWHGWRWKLVZLQGRZSDVVHVWKURXJKWKLVIXQFWLRQ$6HOHFW&DVHVWDWHPHQWFDQ
EHVHWXSWRWUDSIRUFHUWDLQPHVVDJHVVXFKDVWKH:0B0286(029(PHVVDJHRUZHFDQ
MXVWPRQLWRUDOOPHVVDJHVFRPLQJLQWRWKLVZLQGRZ:DWFKLQJDQGHYHQPDQLSXODWLQJWKH
PHVVDJHVWKDWDUHSDVVHGWRWKLVIXQFWLRQDOORZXVPRUHIOH[LELOLW\WRGHYHORSSRZHUIXODQG IHDWXUHULFKDSSOLFDWLRQVWKDQE\MXVWXVLQJWKHHYHQWVWKDW9%PDNHVDYDLODEOHWRXV
0HVVDJHVFDQEHKDQGOHGLQRQHRIWKUHHGLIIHUHQWZD\V • •
7KHPHVVDJHFDQEHLJQRUHGDQGSDVVHGWKURXJKWRWKHGHIDXOWZLQGRZSURFHGXUH
DVLQWKHFRGHVDPSOHDERYH
7KHPHVVDJHFDQEHGLVFDUGHGVRWKDWLWLVQRWSDVVHGWRWKHGHIDXOWZLQGRZ
SURFHGXUHDWDOO%HYHU\FDUHIXOWKRXJKWKDWLQVWRSSLQJWKHPHVVDJHIURPEHLQJ SDVVHGRQWRWKHGHIDXOWZLQGRZSURFHGXUH\RXGRQRWVWRS\RXUDSSOLFDWLRQIURP
IXQFWLRQLQJFRUUHFWO\
•
7KHPHVVDJHFDQEHPRGLILHGDQGSDVVHGRQWRWKHGHIDXOWZLQGRZSURFHGXUH1RW
DOOPHVVDJHVVKRXOGEHPRGLILHG
3UHVXPDEO\LWLVDOVRSRVVLEOHWRPRGLI\WKHPHVVDJHDQGQRWSDVVLWRQWRWKHGHIDXOW
PHVVDJHSURFHGXUHEXWWKDWZRXOGDFFRPSOLVKQRWKLQJ
$PHVVDJHDOVRFDQEHSDVVHGRQWRWKHGHIDXOWZLQGRZSURFHGXUHDWGLIIHUHQWWLPHVZLWKLQ RXU:LQ3URFIXQFWLRQ •
,IZHSODFHWKHFDOOWRWKH&DOO:LQ3URF$3,IXQFWLRQDIWHURXUPHVVDJHKDQGOLQJFRGH
ZHFDQDIIHFWWKHPHVVDJHEHIRUHLWUHDFKHVWKHGHIDXOWZLQGRZSURFHGXUH7KLVLV
VKRZQLQWKHSUHYLRXVFRGHH[DPSOH
•
,IZHSODFHWKHFDOOWRWKH&DOO:LQ3URF$3,IXQFWLRQEHIRUHRXUPHVVDJHKDQGOLQJ
FRGHWKHGHIDXOWIXQFWLRQDOLW\IRUWKHPHVVDJHUHPDLQVLQWDFW7KHFRGHZRXOGWKHQ
ORRNOLNHWKLV • • • • • • • •
3XEOLF)XQFWLRQ:LQ3URF%\9DOKZQG$V/RQJB
%\9DOX0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
:LQ3URF &DOO:LQ3URFO2ULJ:LQ3URFKZQGX0VJZ3DUDPO3DUDP
6HOHFW&DVHVWUXFWXUHWRKDQGOHPHVVDJHVJRHVKHUH (QG)XQFWLRQ
$IWHUWKHGHIDXOWZLQGRZSURFHGXUHUHWXUQVFRQWUROWRRXU:LQ3URFIXQFWLRQZHFDQ
H[DPLQHWKHPHVVDJHDVZHOODVWKHVWDWHRIWKHZLQGRZWRGHWHUPLQHLIDQ\WKLQJ
PRUHQHHGVWREHGRQH
7KHODVWSDUWRIVXEFODVVLQJLQYROYHVUHPRYLQJWKHVXEFODVVHGZLQGRZSURFHGXUHIURPWKH
PHVVDJHVWUHDP7KLVPXVWRFFXUSULRUWRXQORDGLQJWKHZLQGRZIURPPHPRU\RUHQGLQJWKH
DSSOLFDWLRQ,QUHPRYLQJWKHVXEFODVVHGZLQGRZSURFHGXUHIURPWKHPHVVDJHVWUHDPWKH
SRLQWHUWRWKHRULJLQDOZLQGRZSURFHGXUHUHSUHVHQWHGLQRXUH[DPSOHE\O2ULJ:LQ3URF PXVW
EHUHVWRUHG2WKHUZLVHWKHQH[WWLPHDPHVVDJHLVGLUHFWHGWRZDUGWKDWZLQGRZDQGWKH
ZLQGRZSURFHGXUHLVFDOOHGOSIQ:QG3URFZLOOSRLQWWRDQLQYDOLGPHPRU\ORFDWLRQDQGZHDOO
NQRZZKDWWKDWPHDQV*3)7RUHPRYHWKHQHZZLQGRZSURFHGXUHWKDWZHFUHDWHGVLPSO\
XVHWKH6HW:LQGRZ/RQJ3WU$3,IXQFWLRQVLPLODUO\WRWKHZD\\RXXVHGLWWRVXEFODVVWKH
ZLQGRZEXWZLWKDVOLJKWFKDQJH,QVWHDGRIWKHODVWDUJXPHQWEHLQJ$GGUHVV2I:LQ3URFDVLW
ZDVLQWKH)RUPB/RDGHYHQW\RXQHHGWRVXSSO\WKHO2ULJ:LQ3URFYDULDEOHDVDQDUJXPHQW
7KHFRGHLVVKRZQEHORZ
6XE)RUPB8QORDG
'LPO5HWXUQ9DOXHDV/RQJ
/5HWXUQ9DOXH 6HW:LQGRZ/RQJ3WU)RUPKZQG*:/3B:1'352&
O2ULJ:LQ3URF (QG6XE
$IWHUWKHRULJLQDOYDOXHWKDWZDVLQWKHOSIQ:QG3URFHOHPHQWRIWKHZLQGRZFODVVLVUHVWRUHG
WKHZLQGRZFDQEHFORVHGGRZQVDIHO\
7KDWLVKRZVXEFODVVLQJZRUNV7KHUHLVQRWPXFKFRGHLQYROYHGKHUHPRVWRIWKHFRGLQJZLOO
GHDOZLWKVSHFLILFPHVVDJHVWKDWWKH:LQ3URFIXQFWLRQLVZDWFKLQJIRU&KDSWHUZLOOGHDOZLWK WKHFRGHLQYROYHGLQVXEFODVVLQJDZLQGRZLQPRUHGHWDLO
7KH7\SHVRI6XEFODVVLQJ 2XUGLVFXVVLRQRIVXEFODVVLQJLQWKHODVWVHFWLRQLOOXVWUDWHGMXVWRQHW\SHRIVXEFODVVLQJ
+RZHYHU\RXFDQFKRRVHIURPWZRGLIIHUHQWW\SHVRIVXEFODVVLQJZKLFKZH OOH[DPLQHLQWKLV
VHFWLRQ
,QVWDQFHVXEFODVVLQJ :KHQZHFDOOWKH6HW:LQGRZ/RQJ3WUIXQFWLRQDVZHGLGLQWKHSUHYLRXVVHFWLRQZHVXEFODVV
DVSHFLILFZLQGRZGHQRWHGE\WKHZLQGRZKDQGOHSDVVHGWRWKHKZQGSDUDPHWHURI
6HW:LQGRZ/RQJ3WU7KHZLQGRZKDVDOUHDG\EHHQFUHDWHGZKHQZHLQVHUWWKHQHZZLQGRZ
SURFHGXUHLQWRWKHFODVVVWUXFWXUH7KHUHIRUHZHDUHRQO\PRGLI\LQJDFRS\RIWKHZLQGRZ
FODVVLQIRUPDWLRQDVVRFLDWHGZLWKWKLVSDUWLFXODUZLQGRZ7KLVLVFDOOHGLQVWDQFHVXEFODVVLQJ
2QO\RQHLQVWDQFHRIWKHZLQGRZKDVEHHQVXEFODVVHG
)RUH[DPSOHXVLQJ6HW:LQGRZ/RQJ3WUZHFDQVXEFODVV)RUPDVZHGLGLQWKHSUHYLRXV
FRGHVDPSOHV,IWKLVVDPHSURMHFWKDGDVHFRQGIRUPQDPHG)RUPWKDWIRUPZRXOG
FRQWLQXHWRUHO\H[FOXVLYHO\RQLWVRULJLQDOZLQGRZSURFHGXUHIRUPHVVDJHSURFHVVLQJ,WLVQRW
DIIHFWHGE\WKHFDOOWR6HW:LQGRZ/RQJ3WUWKDWUHSODFHG)RUP VZLQGRZSURFHGXUH7R
VXEFODVV)RUPFRUUHFWO\VRPHFKDQJHVZLOOKDYHWREHPDGHWRWKHRULJLQDOFRGH7KHQHZ
FRGHWRVXEFODVVERWKIRUPVZRXOGORRNOLNHWKLV
6XE)RUPB/RDG
(QG6XE
O2ULJ:LQ3URF 6HW:LQGRZ/RQJ3WU)RUPKZQGB
*:/3B:1'352&$GGUHVV2I:LQ3URF
O2ULJ:LQ3URF 6HW:LQGRZ/RQJ3WU)RUPKZQGB
*:/3B:1'352&$GGUHVV2I:LQ3URF
7KHQHZFRGHPDNHVWZRVHSDUDWHFDOOVWR6HW:LQGRZ/RQJ3WUIRUHDFKZLQGRZWKDWLVWREH
VXEFODVVHG1RWLFHDOVRWKDWWKHRULJLQDOZLQGRZSURFHGXUHLVVDYHGLQWRWZRVHSDUDWH
YDULDEOHVO2ULJ:LQ3URFDQGO2ULJ:LQ3URF VRWKDWHDFKLVQRWORVW
,WLVSRVVLEOHIRUWKHVDPHVXEFODVVHGZLQGRZSURFHGXUH:LQ3URFWREHXVHGIRUERWKIRUPV
RUDVHFRQGVXEFODVVHGZLQGRZSURFHGXUHFRXOGEHFUHDWHGIRU)RUP7KLVGHFLVLRQZLOO
GHSHQGRQZKHWKHU)RUP VIXQFWLRQDOLW\ZLOOEHWKHVDPHDV)RUP V,IWKH:LQ3URFIXQFWLRQ
LVXVHGIRUERWKIRUPVLWZLOOEHPRGLILHGWRORRNOLNHWKLV
3XEOLF)XQFWLRQ:LQ3URF%\9DOKZQG$V/RQJB
%\9DOX0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
6HOHFW&DVHVWUXFWXUHWRKDQGOHPHVVDJHVJRHVKHUH ,IKZQG )RUPKZQGWKHQ
:LQ3URF &DOO:LQ3URFO2ULJ:LQ3URFKZQGB
:LQ3URF &DOO:LQ3URFO2ULJ:LQ3URFKZQGB
(OVH,IKZQG )RUPKZQGWKHQ
(QG,I
X0VJZ3DUDPO3DUDP
X0VJZ3DUDPO3DUDP
(QG)XQFWLRQ
7KLVIXQFWLRQXVHVWKHKZQGDUJXPHQWSDVVHGLQWRWKH:LQ3URFIXQFWLRQWRGHWHUPLQHZKLFK
RULJLQDOZLQGRZSURFHGXUHVKRXOGEHFDOOHG
,IDQHZVXEFODVVZLQGRZSURFHGXUHLVFUHDWHGIRU)RUPLWZLOOORRNOLNHWKLV
3XEOLF)XQFWLRQ:LQ3URF%\9DOKZQG$V/RQJB
%\9DOZ3DUDP$V/RQJB
6HOHFW&DVHVWUXFWXUHWRKDQGOHPHVVDJHVJRHVKHUH
:LQ3URF &DOO:LQ3URFO2ULJ:LQ3URFKZQGB
%\9DOX0VJ$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
(QG)XQFWLRQ
X0VJZ3DUDPO3DUDP
1RWHWKDWZHQHHGWRSDVV$GGUHVV2I:LQ3URFLQVWHDGRI$GGUHVV2I:LQ3URFWRWKH 6HW:LQGRZ/RQJ3WUIXQFWLRQXVHGWRVXEFODVV)RUP
7KHFRGHWRUHPRYHWKHVXEFODVVLQJRQERWKZLQGRZVLVDVIROORZV
6XE)RUPB8QORDG
'LPO5HWXUQ9DOXHDV/RQJ
O5HWXUQ9DOXH 6HW:LQGRZ/RQJ3WU)RUPKZQG*:/3B:1'352&
O2ULJ:LQ3URF
O5HWXUQ9DOXH 6HW:LQGRZ/RQJ3WU)RUPKZQG*:/3B:1'352&
O2ULJ:LQ3URF (QG6XE
*OREDOVXEFODVVLQJ ,QVWHDGRIVXSSO\LQJDQHZZLQGRZSURFHGXUHRQDZLQGRZE\ZLQGRZEDVLV\RXFDQVLPSO\
PRGLI\WKHZLQGRZSURFHGXUHRIDZLQGRZFODVVGLUHFWO\WKLVWHFKQLTXHLVFDOOHGJOREDO
VXEFODVVLQJ,WGLIIHUVIURPLQVWDQFHVXEFODVVLQJLQWKDWWKHDFWXDOZLQGRZFODVVDQGQRWWKH
FRS\RIWKHFODVVLQIRUPDWLRQDZLQGRZJHWVZKHQLWLVILUVWFUHDWHGLVEHLQJPRGLILHG
GLUHFWO\7KLVPHDQVWKDWDQ\ZLQGRZFUHDWHGZLWKWKLVPRGLILHGFODVVZLOODXWRPDWLFDOO\XVH
WKHZLQGRZSURFHGXUHZKRVHSRLQWHU\RXSURYLGHGWRWKLVFODVV+RZHYHUDQ\ZLQGRZVWKDW
ZHUHFUHDWHGIURPWKLVFODVVEHIRUHLWZDVPRGLILHGZLOOXVHWKHRULJLQDOFODVV VZLQGRZ
SURFHGXUH
7KLVFRQILUPVLQFLGHQWDOO\WKDWZKHQDQ\ZLQGRZLVFUHDWHGIURPDZLQGRZFODVVWKDWFODVV V
LQIRUPDWLRQLVHPEHGGHGLQWRWKHQHZO\FUHDWHGZLQGRZVWUXFWXUH:KHQZHVXEFODVVD
ZLQGRZZHPRGLI\WKHOSIQ:QG3URFFODVVHOHPHQWHPEHGGHGLQWKHZLQGRZ:KHQZH
JOREDOO\VXEFODVVZHPRGLI\WKHOSIQ:QG3URFHOHPHQWZLWKLQWKHFODVVLWVHOI1HZZLQGRZV
FUHDWHGIURPWKLVFODVVZLOOWKHQLQKHULWWKHFKDQJHVWRWKHFODVV)LJXUHLOOXVWUDWHVJOREDO VXEFODVVLQJ
)LJXUH*OREDOVXEFODVVLQJ
7RJOREDOO\VXEFODVVDZLQGRZ\RXFDOOWKH6HW&ODVV/RQJ3WUIXQFWLRQ7KH9%GHFODUDWLRQRI
WKLVIXQFWLRQIROORZV
3XEOLF'HFODUH)XQFWLRQ6HW&ODVV/RQJ3WU/LEXVHU$OLDV6HW&ODVV/RQJ$B
%\9DOKZQG$V/RQJ%\9DOQ,QGH[$V/RQJB
%\9DOGZ1HZ/RQJ$V/RQJ $V/RQJ
7KH6HW&ODVV/RQJ3WUIXQFWLRQKDVWKHIROORZLQJSDUDPHWHUV KZQG
Q,QGH[
7KHKDQGOHWRDZLQGRZWKDWZDVFUHDWHGXVLQJWKHFODVVZHZDQWWRPRGLI\,WFDQEH
REWDLQHGE\UHWULHYLQJWKHYDOXHRIDIRUPRUFRQWURO VK:QGSURSHUW\
$/RQJLQGLFDWLQJWKHZLQGRZDWWULEXWHWREHPRGLILHG$QXPEHURIYDOXHVDUH
SRVVLEOHWKRXJKWKHYDOXHXVHGWRWHOOWKLVIXQFWLRQWRPRGLI\WKHZLQGRZSURFHGXUHLV
*&/3B:1'352&RU1RWHWKDW\RXPXVWXVHWKH&RQVWVWDWHPHQWWRGHILQHWKH
FRQVWDQW\RXUVHOILI\RXFKRRVHWRXVHLW
GZ1HZ/RQJ
7KHUHSODFHPHQWYDOXH)RUDVXEFODVVHGZLQGRZWKLVSDUDPHWHUUHSUHVHQWVWKH
DGGUHVVRIWKHQHZZLQGRZSURFHGXUH
SURFHGXUHE\SDVVLQJLWVQDPHDVDQDUJXPHQWWRWKH$GGUHVV2IRSHUDWRU
7KHUHWXUQYDOXHRIWKLVIXQFWLRQZLOOEHWKHRULJLQDOYDOXHLQWKHFODVVVWUXFWXUHWKDWZDV
UHSODFHGZLWKWKHYDOXHLQWKHGZ1HZ/RQJDUJXPHQW)RURXUSXUSRVHVWKLVIXQFWLRQZLOO
UHWXUQHLWKHUD]HURLIDQHUURURFFXUUHGRUWKHDGGUHVVRIWKHRULJLQDOFODVVZLQGRZSURFHGXUH
LILWZDVVXFFHVVIXO
7KHVWHSVWRSHUIRUPJOREDOVXEFODVVLQJFORVHO\IROORZWKHVWHSVIRULQVWDQFHVXEFODVVLQJ
7KLVFRGHZLOOLQLWLDWHJOREDOVXEFODVVLQJ 3ULYDWHO2ULJ&OV3URFDV/RQJ
6XE)RUPB/RDG
/RDGIUP+LGGHQ
O2ULJ&OV3URF 6HW&ODVV/RQJ3WUIUP+LGGHQKZQGB
(QG6XE
*&/3B:1'352&$GGUHVV2I&OV3URF
7KHILUVWOLQHRIWKLVIXQFWLRQZLOOORDGDKLGGHQIRUPFDOOHGIUP+LGGHQLQWRPHPRU\7KHK:QG
RIWKLVIRUPLVXVHGLQWKHILUVWDUJXPHQWWRWKH6HW&ODVV/RQJ3WUIXQFWLRQ7RXVHWKLVIXQFWLRQ
WRPRGLI\DFODVV VVWUXFWXUHZHQHHGWRJLYHLWDKDQGOHWRDZLQGRZWKDWZDVFUHDWHGXVLQJ
WKLVFODVV7KHIXQFWLRQXVHVWKLVKDQGOHWRJHWLQGLUHFWO\WRWKHFODVVVWUXFWXUHLQPHPRU\
7KLVKDQGOHDOVRLVXVHGZKHQUHPRYLQJWKHJOREDOVXEFODVV7KHUHIRUHWKLVZLQGRZLVKLGGHQ
WRSURWHFWLWIURPEHLQJFORVHGE\WKHXVHUZKLFKZRXOGUHQGHUWKHK:QGQHHGHGIRUJOREDO
VXEFODVVLQJLQYDOLG
7KHODVWSDUDPHWHURIWKH6HW&ODVV/RQJ3WUIXQFWLRQVHQGVWKHDGGUHVVRIWKH&OV3URFIXQFWLRQ
WKDWZHGHILQHLQRXU9%FRGH7KLVIXQFWLRQZLOOEDVLFDOO\ORRNOLNHWKLV 3XEOLF)XQFWLRQ&OV3URF%\9DOKZQG$V/RQJB
%\9DOZ3DUDP$V/RQJB
6HOHFW&DVHVWUXFWXUHWRKDQGOHPHVVDJHVJRHVKHUH
&OV3URF &DOO:LQ3URFO2ULJ&OV3URFKZQGX0VJZ3DUDPO3DUDP
%\9DOX0VJ$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
(QG)XQFWLRQ
1RWKLQJLVQHZKHUH1RWLFHWKDWWKHRULJLQDOFODVVZLQGRZSURFHGXUHPXVWEHFDOOHGKHUHDV
LWLVZLWKLQVWDQFHVXEFODVVLQJ7KLVHQVXUHVWKDWWKHGHIDXOWSURFHVVLQJZLOORFFXUIRUDQ\ PHVVDJHVVHQWWRWKLVIXQFWLRQ
7KHPHVVDJHVWKDWSDVVWKURXJKWKLVIXQFWLRQFDQEHKDQGOHGLQRQHRIWKUHHGLIIHUHQWZD\V
VLPLODUWRLQVWDQFHVXEFODVVLQJ
• • •
7KHPHVVDJHFDQEHLJQRUHGDQGSDVVHGRQWRWKH&DOO:LQ3URFIXQFWLRQ
7KHPHVVDJHFDQEHGLVFDUGHGEHIRUHFDOOLQJWKH&DOO:LQ3URFIXQFWLRQ
7KHPHVVDJHDUJXPHQWVFDQEHPRGLILHGDQGWKHQSDVVHGRQWRWKH&DOO:LQ3URF
IXQFWLRQ
7KHPHVVDJHDOVRFDQEHSDVVHGWRWKH&DOO:LQ3URFIXQFWLRQDWGLIIHUHQWWLPHV • •
7KHPHVVDJHFDQEHSURFHVVHGDQGWKHQVHQWWRWKH&DOO:LQ3URFIXQFWLRQ
7KHPHVVDJHFDQEHVHQWWRWKH&DOO:LQ3URFIXQFWLRQDQGWKHQSURFHVVHG
7KHILQDOVWHSWRJOREDOVXEFODVVLQJLVWRUHVWRUHWKHRULJLQDOFODVVZLQGRZSURFHGXUHWRWKH
FODVVZLWKDFRGHIUDJPHQWVXFKDVWKHIROORZLQJ
6XE)RUPB8QORDG
'LPO5HWXUQ9DOXHDV/RQJ
O5HWXUQ9DOXH 6HW&ODVV/RQJ3WUIUP+LGGHQKZQGB
(QG6XE
*&/3B:1'352&O2ULJ&OV3URF
7KLVIXQFWLRQFDOOV6HW&ODVV/RQJ3WUXVLQJWKHVDPHZLQGRZKDQGOHWKDWZDVXVHGWRLQLWLDWH
JOREDOVXEFODVVLQJ7KHRQO\GLIIHUHQFHLVWKDWWKHDGGUHVVRIWKHRULJLQDOFODVVZLQGRZ
SURFHGXUHLVEHLQJSDVVHGLQWRWKHODVWDUJXPHQWRIWKLVIXQFWLRQWKXVUHVWRULQJWKHFODVVWR
LWVRULJLQDOVWDWH
*OREDOVXEFODVVLQJEULQJVZLWKLWDZKROHQHZVHWRIXVHVDVZHOODVSUREOHPV&KDSWHUZLOO GHDOZLWKWKLVVXEMHFWPRUHWKRURXJKO\
6XSHUFODVVLQJ :HFDQJRRQHVWHSIXUWKHUDQGFUHDWHRXURZQZLQGRZFODVVWKDWLQKHULWVIURPDQH[LVWLQJ
ZLQGRZFODVV7KLVLVFDOOHGVXSHUFODVVLQJ
QHZZLQGRZFODVVVWUXFWXUHZLWKWKHLQIRUPDWLRQREWDLQHGIURPDQH[LVWLQJFODVV7KHH[LVWLQJ
FODVVPRVWOLNHO\LVDFODVVWKDW:LQGRZVSURYLGHV
:KHQILOOLQJWKHQHZFODVVVWUXFWXUHZLWKWKHH[LVWLQJFODVV VLQIRUPDWLRQLWLVLPSHUDWLYHWR
UHWULHYHDQGVDYHWKHRULJLQDOFODVV VOSIQ:QG3URFIXQFWLRQSRLQWHUEHFDXVHLWSURYLGHVRXU
QHZFODVVZLWKWKHHVVHQWLDOEDVHIXQFWLRQDOLW\7KHRWKHUFODVVHOHPHQWVFDQEHILOOHGZLWK
GDWDQHHGHGWRGHILQHWKHQHZZLQGRZFODVV,QSDUWLFXODUWKHOSV]&ODVV1DPHHOHPHQWRIWKH
QHZZLQGRZFODVVVWUXFWXUHPXVWFRQWDLQDXQLTXHVWULQJWKDWZLOOGHILQHWKLVFODVV)URPWKLV
QHZO\FUHDWHGFODVVZHLQWXUQXVHWKHWHFKQLTXHRIJOREDOVXEFODVVLQJWRFKDQJHWKH
OSIQ:QG3URFZLQGRZSURFHGXUHIXQFWLRQSRLQWHUWRSRLQWWRDQHZZLQGRZSURFHGXUHWKDWZH
GHILQH)LJXUHLOOXVWUDWHVVXSHUFODVVLQJ
)LJXUH+RZVXSHUFODVVLQJZRUNV
7KHQHZFODVVRUDVLWLVVRPHWLPHVFDOOHGWKHVXSHUFODVVVKRXOGKDYHDXQLTXHFODVV QDPHZLWKDVLQJOHH[FHSWLRQLWLVDOVRSRVVLEOHWRQDPHWKLVVXSHUFODVVZLWKRQHRIWKH
V\VWHPZLGHFODVVQDPHVOLVWHGKHUH Button 7KHEXWWRQFRQWUROFODVV ComboBox
7KHFRPERER[FRQWUROFODVV
Edit
7KHHGLWFRQWUROFODVV
ListBox
7KHOLVWER[FRQWUROFODVV MDIClient
7KH0',FOLHQWZLQGRZFODVV ScrollBar 7KHVFUROOEDUFRQWUROFODVV
Static
7KHVWDWLFFRQWUROFODVV
)RUH[DPSOH,FRXOGFUHDWHDVXSHUFODVVZLWKWKHQDPHRI%87721ZKLFKLVDQH[LVWLQJ
V\VWHPZLGHFODVVQDPH:KHQ,FUHDWHDZLQGRZIURPD%87721FODVVWKHV\VWHP
VHDUFKHVWKHSURFHVVIRUDQ\ORFDOFODVVHVZLWKDFODVVQDPHRI%87721EHIRUHVHDUFKLQJ IRUDQ\V\VWHPZLGHFODVVHVZLWKWKLVQDPH7KHRUGHULQZKLFK:LQGRZVZLOOVHDUFKIRU
FODVVHVLV
$Q\DSSOLFDWLRQORFDOFODVVHVZLWKWKHVDPHFODVVQDPHZLWKLQWKHSURFHVV
$Q\DSSOLFDWLRQJOREDOFODVVHVZLWKWKHVDPHFODVVQDPHZLWKLQWKHSURFHVV
$OOV\VWHPZLGHFODVVHV
:LQGRZVZLOOILQGWKHDSSOLFDWLRQORFDORUDSSOLFDWLRQJOREDOGHILQHG%87721VXSHUFODVV
EHIRUHLWILQGVWKHV\VWHPZLGH%87721FODVV7KLVLQHIIHFWZLOODOORZXVWRRYHUULGHWKH
IXQFWLRQDOLW\RIWKHV\VWHPZLGH%87721FODVV7KHGDQJHULVWKDWWKHV\VWHPZLGH%87721
FODVVFDQQHYHUEHXVHGWRFUHDWHDZLQGRZLQWKLVSURFHVVLQVWHDGWKHVXSHUFODVVZLOO
DOZD\VEHXVHG,IDQHZYHUVLRQRIWKHRSHUDWLQJV\VWHPPRGLILHVRUUHPRYHVWKLVV\VWHP
ZLGHFODVVWKHVXSHUFODVVPLJKWQRWZRUNFRUUHFWO\LIDWDOO
6XSHUFODVVLQJDGHYHORSHUGHILQHGFODVVZKLFKLVDVXSHUFODVVLQDQGRILWVHOI LQDQ
DSSOLFDWLRQLVJHQHUDOO\UHGXQGDQW$QHZZLQGRZFODVVVKRXOGEHEDVHGRQDZLQGRZFODVV
WKDWDOUHDG\H[LVWV7KLVRULJLQDOFODVVZLOOJLYHWKHQHZFODVVLWVGHIDXOWEHKDYLRUZKLFKLV
SURYLGHGE\WKHRULJLQDOFODVV ZLQGRZSURFHGXUH,IZHQRZXVHVXSHUFODVVLQJWRFUHDWH
DQRWKHUQHZFODVVXVLQJWKHFODVVWKDWZHMXVWFUHDWHGZHDUHDGGLQJDQHZOD\HURI
FRPSOH[LW\WRRXUDSSOLFDWLRQ7KLVDGGHGOD\HUFDQEHDPDLQWHQDQFHQLJKWPDUHHVSHFLDOO\LI
WKHGHYHORSHUVPDLQWDLQLQJWKHFRGHKDYHQRGRFXPHQWDWLRQWRLQIRUPWKHPKRZWKHFRGHLV
VXSSRVHGWRZRUN,WFDQDOVRKXUWSHUIRUPDQFHEHFDXVHQRZZKHQDPHVVDJHLVVHQWWRD
ZLQGRZRIWKLVFODVVWKHPHVVDJHPXVWEHSDVVHGIURPWKHVXSHUFODVVHGZLQGRZSURFHGXUH
WRWKHGHYHORSHUGHILQHGFODVVZLQGRZSURFHGXUHDQGWKHQSDVVHGRQFHPRUHWRWKHRULJLQDO
FODVV VZLQGRZSURFHGXUH,QDVHQVH\RXDUHVXSHUFODVVLQJDFODVVZKLFKKDVDOUHDG\EHHQ
VXSHUFODVVHG&ODVV%VXSHUFODVVHVDEDVHFODVV$FODVV&WKHQVXSHUFODVVHV&ODVV%
,QVWHDGWKHGHYHORSHUVKRXOGORRNIRUDZD\RIXVLQJVXSHUFODVVLQJWRPRGLI\RQO\DV\VWHP
GHILQHGFODVV,IWKHWZRVXSHUFODVVHVFDQQRWEHPHUJHGLQWRDVLQJOHVXSHUFODVVLQRXU
H[DPSOHRIVXSHUFODVVLQJDGHYHORSHUGHILQHGFODVVLHFODVV%PHUJHGZLWKFODVV& D
VHFRQGVHSDUDWHVXSHUFODVVVKRXOGEHFUHDWHGRQHWKDWLVEDVHGRQWKHRULJLQDOEDVHFODVV
LHFODVV%VXSHUFODVVHVEDVHFODVV$FODVV&VXSHUFODVVHVEDVHFODVV$ 7KLVZLOOOHVVHQ
WKHDSSOLFDWLRQ VFRPSOH[LW\DQGNHHSSHUIRUPDQFHDWDQDFFHSWDEOHOHYHO
7KLVLVEDVLFDOO\KRZVXSHUFODVVLQJZRUNV1RWLFHWKHVLPLODULWLHVDQGGLIIHUHQFHVEHWZHHQ )LJXUHDQG)LJXUHZKLFKLOOXVWUDWHGVXEFODVVLQJ6XSHUFODVVLQJZLOOEHGLVFXVVHG
PRUHWKRURXJKO\LQ&KDSWHU
:K\'R:H8VH6XEFODVVLQJ"
:HXVHVXEFODVVLQJWRDGGRUPRGLI\WKHIXQFWLRQDOLW\RIDQ\DSSOLFDWLRQZLQGRZDQGPRVW
9%FRQWUROV ZKHQWKDWIXQFWLRQDOLW\FDQQRWEHDGGHGRUPRGLILHGLQDUREXVWZD\E\XVLQJWKH
9%ODQJXDJHDORQH6RPHH[DPSOHVRIVXEFODVVLQJLQFOXGH • •
$GGLQJWH[WWRWKHVWDWXVEDUWKDWGHVFULEHVZKLFKPHQXLWHPWKHPRXVHLVFXUUHQWO\
RYHU
,QGLFDWLQJZKDWSDUWRIDZLQGRZ VQRQFOLHQWUHJLRQWKHPRXVHLVRYHU7KLVFRXOGEH
WKHWLWOHEDUWKH&ORVHEXWWRQDZLQGRZERUGHUHWF1RWHWKDWWKH0RXVH2YHUHYHQW
LQD9%IRUPFDSWXUHVPRXVHHYHQWVRQO\LQWKHFOLHQWDUHDRIWKHIRUPQRWLQWKH
QRQFOLHQWDUHD • •
5HVWULFWLQJWKHXVHU VDELOLW\WRPRYHRUUHVL]HDIRUPRUGLDORJ
,QVWHDGRIZULWLQJQHZFRGHWRPLPLFWKHFRPPRQGLDORJFRQWUROV\RXFDQVXEFODVV
WKHPDQGDGG\RXURZQIXQFWLRQDOLW\VXFKDVDILOHYLHZHUIRUWKH2SHQGLDORJER[
WKDWDOORZV\RXWRSUHYLHZVSHFLILFW\SHVRIILOHV
• • • •
:LQGRZVFDQEHPRQLWRUHGWRGHWHUPLQHZKHQWKH\EHFRPHDFWLYHRULQDFWLYH
7KURXJKVXEFODVVLQJ\RXFDQPRGLI\WKHZD\DZLQGRZLVGUDZQE\FDSWXULQJWKH
SDLQWPHVVDJHV:0B'5$:,7(0:0B3$,17:0B1&3$,17HWF
3RSXSPHQXVGLVSOD\HGZKHQULJKWFOLFNLQJWH[WER[HVFDQEHUHSODFHGZLWKPHQXV
RI\RXURZQGHVLJQ
$QDSSOLFDWLRQVLPLODUWR6S\FDQEHGHYHORSHGWRZDWFKPHVVDJHVVHQWWRD
SDUWLFXODUZLQGRZRUZLQGRZVZLWKLQDVLQJOHSURFHVV
:KDW$UH+RRNV" 7KH0LFURVRIWGRFXPHQWDWLRQGHILQHVKRRNVLQWKLVPDQQHU $KRRNLVDSRLQWLQWKHV\VWHPPHVVDJHKDQGOLQJPHFKDQLVPZKHUHDQ
DSSOLFDWLRQFDQLQVWDOODVXEURXWLQHWRPRQLWRUWKHPHVVDJHWUDIILFLQWKH
V\VWHPDQGSURFHVVFHUWDLQW\SHVRIPHVVDJHVEHIRUHWKH\UHDFKWKHWDUJHW
ZLQGRZSURFHGXUH
2QHPRUHWKLQJVKRXOGEHDGGHGWRWKLVGHILQLWLRQ7KHDGGLWLRQ,KDYHPDGHLVLQLWDOLFV $KRRNLVDSRLQWLQWKHV\VWHPPHVVDJHKDQGOLQJPHFKDQLVPZKHUHDQ
DSSOLFDWLRQFDQLQVWDOODVXEURXWLQHWRPRQLWRUWKHPHVVDJHWUDIILFLQWKH
V\VWHPDQGSURFHVVFHUWDLQW\SHVRIPHVVDJHVEHIRUHWKH\UHDFKWKHWDUJHW
ZLQGRZSURFHGXUHDVZHOODVDIWHUWKH\DUHSURFHVVHGE\WKHWDUJHWZLQGRZ
SURFHGXUH
7KHVXEURXWLQHWKDWLVLQVWDOOHGDWDKRRNSRLQWLVW\SLFDOO\FDOOHGDILOWHUIXQFWLRQ$ILOWHU
IXQFWLRQLVDQDORJRXVWRDZLQGRZSURFHGXUHLQWKDWLWFDQUHFHLYHDQGSURFHVVPHVVDJHV
:KHQWKHVHILOWHUIXQFWLRQVDUHSODFHGLQWRWKHPHVVDJHVWUHDPDWDKRRNSRLQWE\XVLQJWKH
6HW:LQGRZ+RRN([$3,IXQFWLRQZKLFKZLOOEHGHILQHGODWHULQWKLVFKDSWHU LWLVFDOOHG
LQVWDOOLQJDKRRN$KRRNSRLQWLVDV\VWHPGHILQHGSRLQWLQWKHPHVVDJHVWUHDPDWZKLFKD
ILOWHUIXQFWLRQFDQEHLQVWDOOHG7KHVHKRRNSRLQWVFDQQRWEHFKDQJHG
+RRNVDUHVLPLODUWRVXEFODVVLQJLQWKDWERWKLQWHUFHSWPHVVDJHVDOWKRXJKWKLVLVZKHUHPRVW
RIWKHVLPLODULWLHVHQG
FDQQRWEHVROYHGZLWKVXEFODVVLQJORRNLQWRXVLQJKRRNVWRDXJPHQWRUHYHQUHSODFH
VXEFODVVLQJ,WLVKLJKO\SRVVLEOHWKDWVHYHUDOKRRNVFRXOGEHXVHGLQFRPELQDWLRQWRVROYHD
SUREOHP
7KHIXQGDPHQWDOFKDUDFWHULVWLFRIDOOW\SHVRIVXEFODVVLQJLVWKDWDQHZGHYHORSHUGHILQHG
ZLQGRZSURFHGXUHLVFUHDWHGZKLFKLQWHUFHSWVPHVVDJHVEHIRUHWKHRULJLQDOZLQGRZ
SURFHGXUHKDVDFKDQFHWRUHFHLYHWKHP7KLVQHZZLQGRZSURFHGXUHWKHQGHFLGHVKRZWR
KDQGOHWKHPHVVDJHDQGZKHWKHULWZLOOEHSDVVHGRQWRWKHRULJLQDOZLQGRZSURFHGXUH
+RRNVLQWHUFHSWPHVVDJHVDWYDULRXVVHWORFDWLRQVLQWKHRSHUDWLQJV\VWHP7KH
:+B*(70(66$*(KRRNFDQLQWHUFHSWPHVVDJHVLPPHGLDWHO\EHIRUHWKH\DUULYHDWWKHLU
GHVWLQDWLRQZLQGRZSURFHGXUHVLPLODUWRVXEFODVVLQJ7KH:+B&$//:1'352&5(7KRRN FDQLQWHUFHSWPHVVDJHVDIWHUEHLQJSURFHVVHGE\DZLQGRZSURFHGXUH7KH
:+B-2851$/5(&25'KRRNLQWHUFHSWVPHVVDJHVDIWHUEHLQJVHQWIURPWKHUDZLQSXW
WKUHDG5,7 EXWEHIRUHWKH\DUULYHDWWKHLUGHVWLQDWLRQWKUHDG VPHVVDJHTXHXH
+RRNVKDYHPRUHVSHFLILFIXQFWLRQDOLW\WKDQVXEFODVVLQJGRHV7KH:+B&%7KRRNLVDJRRG
LOOXVWUDWLRQRIWKLV$OWKRXJKWKLVKRRNFDQEHXVHGIRUVHYHUDOGLIIHUHQWW\SHVRIWDVNVLWZDV
FUHDWHGWRPDNHWKHSURFHVVRIFUHDWLQJFRPSXWHUEDVHGWUDLQLQJ&%7 DSSOLFDWLRQVHDVLHU
DQGPRUHUREXVW7KLVKRRNFDQEHXVHGWRZDWFKWKHDFWLRQVDXVHUSHUIRUPVLQWKHV\VWHP
7KHKRRNFDQWKHQJLYHIHHGEDFNWRWKH&%7DSSOLFDWLRQDERXWZKHWKHUWKHXVHULVSHUIRUPLQJ
WKHDFWLRQFRUUHFWO\7KHKRRNDFFRPSOLVKHVWKLVE\FDSWXULQJPHVVDJHVUHODWLQJWRZLQGRZ
DFWLYDWLRQFUHDWLRQGHVWUXFWLRQPLQLPL]DWLRQPD[LPL]DWLRQPRYHPHQWDQGVL]LQJDVZHOODV
PRXVHDQGNH\ERDUGDFWLYLW\7KLVLVMXVWDVDPSOLQJRIWKHPHVVDJHVWKDWWKLVKRRNFDQ
UHFHLYH
7DEOHSUHVHQWVPDQ\RIWKHVLPLODULWLHVDQGGLIIHUHQFHVDPRQJVXEFODVVLQJDQGKRRNLQJ 7DEOH&RPSDULVRQ%HWZHHQ6XEFODVVLQJDQG+RRNLQJ 6XEFODVVLQJ
+RRNV
,QWHUFHSWVPHVVDJHV
,QWHUFHSWVPHVVDJHV
7KHEDVLFVWHSVDUHWRZULWHDVXEFODVVHG
7KHEDVLFVWHSVDUHWRZULWHDKRRNILOWHU
6HW&ODVV/RQJ3WUWRLQLWLDWHVXEFODVVLQJDQG
WKHKRRNDQGWKHQXVH
ZLQGRZSURFHGXUHFDOO6HW:LQGRZ/RQJ3WURU IXQFWLRQFDOO6HW:LQGRZV+RRN([WRLQVWDOO WKHQXVHWKHVDPHIXQFWLRQWRWHUPLQDWHWKH VXEFODVVLQJ
8QKRRN:LQGRZV+RRN([WRWHUPLQDWHWKH
KRRNLQJ
&DQFDXVHVHULRXV*3)VLILPSOHPHQWHG LQFRUUHFWO\
&DQFDXVHVHULRXV*3)VLILPSOHPHQWHG
LQFRUUHFWO\
&DQSDVVPHVVDJHVRQWRWKHRULJLQDOZLQGRZ &DQSDVVPHVVDJHVRQWRWKHQH[WKRRNLQD
SURFHGXUHRIWKHVXEFODVVHGZLQGRZ
&DSWXUHVHYHU\W\SHRIPHVVDJHWKDWLVERXQG IRULWVZLQGRZ
$OOZLQGRZSURFHGXUHIXQFWLRQVDFFHSWWKHVH
FKDLQRIKRRNV
6SHFLILFW\SHVRIPHVVDJHVFDQEHFDSWXUHG
RUHYHU\PHVVDJHLQWKHV\VWHPFDQEH
FDSWXUHG
$OOKRRNILOWHUIXQFWLRQVDFFHSWWKHVH
DUJXPHQWVKZQG0VJO3DUDPDQGZ3DUDP DUJXPHQWVFRGHO3DUDPDQGZ3DUDP 6XEFODVVLQJLVSHUIRUPHGDWRQHSRLQWLQWKH V\VWHPLPPHGLDWHO\EHIRUHWKHRULJLQDO ZLQGRZSURFHGXUH
:LQGRZVLQDVHSDUDWHSURFHVVFDQQRWEH
+RRNSRLQWVDUHORFDWHGDWYDULRXVSODFHV
VSUHDGWKURXJKRXWWKHPHVVDJLQJV\VWHP +RRNVFDQRSHUDWHRQDVLQJOHZLQGRZLQD
VXEFODVVHG
SURFHVVRURQDOOZLQGRZVLQDOOSURFHVVHV
8VHVDVXEFODVVHGZLQGRZSURFHGXUHWR
8VHVDKRRNILOWHUIXQFWLRQWRSURFHVV
SURFHVVPHVVDJHV
7KHVXEFODVVHGZLQGRZSURFHGXUHLVD FDOOEDFNIXQFWLRQ
$VLQJOHZLQGRZFDQEHVXEFODVVHGPXOWLSOH WLPHV
PHVVDJHV
7KHKRRNILOWHUIXQFWLRQLVDFDOOEDFNIXQFWLRQ $VLQJOHKRRNFDQKDYHPXOWLSOHILOWHU
IXQFWLRQVFKDLQHGWRLW
7KHUHDUHGLIIHUHQWW\SHVRIKRRNVWRFKRRVHIURP7KHUHLVDOVRDWKKRRNFDOOHG
:+B+$5':$5(EXWLWLVQRWFXUUHQWO\LPSOHPHQWHGLQ:LQGRZV7KHGRFXPHQWHGKRRN
W\SHVDUH WH_CALLWNDPROC
&DOOHGEHIRUHDPHVVDJHUHDFKHVDZLQGRZSURFHGXUH WH_CALLWNDPROCRET
&DOOHGDIWHUDZLQGRZSURFHGXUHILQLVKHVSURFHVVLQJDPHVVDJH WH_CBT
&DSWXUHVPHVVDJHVWKDWPDNHLWHDVLHUIRUWKHGHYHORSHUWRFUHDWH&%7DSSOLFDWLRQV WH_DEBUG &DOOHGHYHU\WLPHDQRWKHUKRRNIXQFWLRQLVDERXWWREHFDOOHG7KLVKRRNIXQFWLRQLV
DOZD\VFDOOHGILUVWZKLFKPDNHVLWXVHIXOLQGHEXJJLQJKRRNIXQFWLRQFDOOV WH_FOREGROUNDIDLE
&DOOHGZKHQWKHUHDUHQRSHQGLQJPHVVDJHVLQWKHFXUUHQWWKUHDG VPHVVDJHTXHXH WH_GETMESSAGE &DOOHGLPPHGLDWHO\EHIRUHWKH*HW0HVVDJHRU3HHN0HVVDJH$3,IXQFWLRQVUHWXUQD
PHVVDJH WH_JOURNALRECORD
&DSWXUHVDOOPRXVHDQGNH\ERDUGPHVVDJHVEHIRUHWKH\FDQDUULYHDWWKHLU
GHVWLQDWLRQZLQGRZSURFHGXUH WH_JOURNALPLAYBACK
3OD\VEDFNWKHPHVVDJHVUHFRUGHGZLWKWKH:+B-2851$/5(&25'KRRN WH_KEYBOARD
&DSWXUHVVSHFLILFNH\ERDUGPHVVDJHVDIWHUWKH\DUHSRVWHGWRDWKUHDG VPHVVDJH
TXHXHEXWEHIRUHWKH\DUHSURFHVVHGE\DZLQGRZSURFHGXUH WH_KEYBOARD_LL
&DSWXUHVVSHFLILFNH\ERDUGPHVVDJHVEHIRUHWKH\DUHSRVWHGWRDWKUHDG VPHVVDJH
TXHXH WH_MOUSE
&DSWXUHVPRXVHPHVVDJHVDIWHUWKH\DUHSRVWHGWRDWKUHDG VPHVVDJHTXHXHEXW
EHIRUHWKH\DUHSURFHVVHGE\DZLQGRZSURFHGXUH WH_MOUSE_LL
&DSWXUHVVSHFLILFPRXVHPHVVDJHVEHIRUHWKH\DUHSRVWHGWRDWKUHDG VPHVVDJH
TXHXH WH_MSGFILTER
&DOOHGZKHQHYHUDGLDORJER[DPHVVDJHER[DVFUROOEDUFRQWURORUDPHQX
UHFHLYHVDPHVVDJH7KLVKRRNDOVRLVFDOOHGZKHQWKHXVHUSUHVVHVWKH$/77$%RU
$/7(6&NH\V7KLVKRRNUHFHLYHVWKHVHPHVVDJHVRQO\IRUDVLQJOHWKUHDG WH_SYSMSGFILTER
7KHV\VWHPZLGHRUJOREDOKRRNHTXLYDOHQWWR:+B06*),/7(57KLVILOWHUUHFHLYHV
PHVVDJHVIURPDOOWKUHDGVUXQQLQJLQWKHV\VWHP WH_SHELL
&DOOHGZKHQDQDFWLRQLVSHUIRUPHGRQDWRSOHYHOZLQGRZ WH_HARDWARE 1RWLPSOHPHQWHGLQ:LQ
,WVKRXOGEHQRWHGWKDWORZOHYHOKRRNVWKRVHZLWKB//DSSHQGHGWRWKHKRRNQDPHDUH
DYDLODEOHRQO\LQ:LQGRZVDQG:LQGRZV176HUYLFH3DFNRUKLJKHU
(DFKKRRNUHVLGHVDWYDULRXVSODFHVWKURXJKRXWWKH:LQGRZVPHVVDJLQJV\VWHP$OOKRRNV
DUHSODFHGE\WKHRSHUDWLQJV\VWHPDQGFDQQRWEHPRYHGWRDGLIIHUHQWVSRWLQWKHPHVVDJLQJ
V\VWHP7KLQNRIDKRRNDVDQRSHQLQJLQWKHPHVVDJLQJV\VWHP$VPHVVDJHVIORZ
WKURXJKRXWWKHRSHUDWLQJV\VWHPWKH\SDVVWKURXJKRQHRUPRUHRIWKHVHKRRNSRLQWVRU
RSHQLQJV$KRRNDORQHLVXVHOHVVWRWKHGHYHORSHUXQOHVVDILOWHUIXQFWLRQLVDWWDFKHGWRWKH
KRRN$ILOWHUIXQFWLRQLVVLPLODULQFRQFHSWWRWKH:LQ3URFZLQGRZSURFHGXUHWKDWZHFUHDWHG
LQWKHVXEFODVVLQJVHFWLRQ7KHILOWHUIXQFWLRQLVWKHQDWWDFKHGWRWKHKRRN$WWKLVSRLQWDQ\
PHVVDJHVWKDWJRWKURXJKWKLVKRRNDUHSDVVHGRQWRWKHDWWDFKHGILOWHUIXQFWLRQEHIRUHEHLQJ
VHQWRQWRWKHLUQH[WGHVWLQDWLRQ+RRNLQJLVLOOXVWUDWHGLQ)LJXUH
)LJXUH$KRRNSRLQWLQWKHV\VWHPEHIRUHDQGDIWHUDILOWHUIXQFWLRQLVDWWDFKHGWRLW
,IPRUHWKDQRQHDSSOLFDWLRQDWWDFKHVDILOWHUIXQFWLRQWRDKRRNWKHILOWHUIXQFWLRQVDUHFKDLQHG
WRJHWKHU7KLVLVFDOOHGDILOWHUIXQFWLRQFKDLQLWLVLOOXVWUDWHGLQ)LJXUH
)LJXUH$KRRNFKDLQLQDFWLRQWKHKRRNSRLQWKDVWKUHHILOWHUIXQFWLRQVDWWDFKHGWRLW
7KHRSHUDWLQJV\VWHPPDLQWDLQVWKLVILOWHUFKDLQLQWHUQDOO\VRWKDWZHGRQRWKDYHWRERWKHU
FKHFNLQJIRUWKHH[LVWHQFHRIRWKHUILOWHUIXQFWLRQVDQGLQVHUWLQJDQGUHPRYLQJRXUILOWHU
IXQFWLRQVIURPWKHFKDLQ7KHRQO\WKLQJZHKDYHWRUHPHPEHULVWKDWRWKHUDSSOLFDWLRQVPLJKW
KDYHLQVWDOOHGILOWHUIXQFWLRQVWRWKHVDPHKRRNWKDWZHDUHXVLQJ7KXVZKHQZHDUHGRQH
SURFHVVLQJLQRXUILOWHUIXQFWLRQZHQHHGWRSDVVWKHLQIRUPDWLRQRQWRWKHQH[WKRRNLQWKH
FKDLQ7KLVLVVLPLODULQFRQFHSWWRDVXEFODVVHGZLQGRZSDVVLQJWKHLQIRUPDWLRQDERXWWKH PHVVDJHRQIURPWKHQHZZLQGRZSURFHGXUHWRWKHGHIDXOWZLQGRZSURFHGXUH
2QHDGGLWLRQDOGHWDLODERXWKRRNVLVWKDWWKHODVWILOWHUIXQFWLRQLQVWDOOHGLQDFKDLQLVLQVWDOOHG
DWWKHEHJLQQLQJRIWKHFKDLQ7KHUHIRUHWKHODVWLQVWDOOHGILOWHUIXQFWLRQLVWKHILUVWWRUHFHLYH
PHVVDJHVIURPWKHKRRN7KLVLQIRUPDWLRQFDQFRPHLQKDQG\ODWHULI\RXLQVWDOOPRUHWKDQ
RQHILOWHUIXQFWLRQIRUDVLQJOHKRRNRULIRWKHUDSSOLFDWLRQVLQVWDOODILOWHUIXQFWLRQWKDWLV
PLVEHKDYLQJDQGSRVVLEO\QRWUHOD\LQJWKHFRUUHFWPHVVDJHLQIRUPDWLRQWR\RXUILOWHUIXQFWLRQ
+RZ'R+RRNV:RUN"
8VLQJKRRNVLVDOLWWOHPRUHFRPSOLFDWHGWKDQVXEFODVVLQJDZLQGRZ7KHUHLVPXFKPRUH
IOH[LELOLW\DQGSRZHUZLWKKRRNVWKDQZLWKVXEFODVVLQJVRLWVWDQGVWRUHDVRQWKDWKRRNVZLOOEH
PRUHFRPSOLFDWHG
6HWWLQJXSDKRRNLVVLPLODUWRVHWWLQJXSDVXEFODVVLQJSURFHGXUH)LUVWDILOWHUIXQFWLRQQHHGV
WREHZULWWHQ$OWKRXJKDILOWHUIXQFWLRQLVVLPLODUWRDZLQGRZSURFHGXUHWKHSDUDPHWHUVLW
WDNHVDUHFRPSOHWHO\GLIIHUHQW$ILOWHUIXQFWLRQKDVWKHIROORZLQJSURWRW\SH
3XEOLF)XQFWLRQ0HVVDJH3URF
%\9DOX&RGH$V/RQJB
%\9DOZ3DUDP$V/RQJB
O3DUDP$V/RQJ $V/RQJ
(QG)XQFWLRQ
)RUQRZWKHUHLVQRFRGHZLWKLQWKLVIXQFWLRQVRLWZLOOQRWGRDQ\WKLQJ
(DFKW\SHRIKRRNZLOOXVHWKLVVDPHIXQFWLRQSURWRW\SHIRULWVILOWHUIXQFWLRQDOWKRXJKWKH
IXQFWLRQLWVHOIGRHVQRWKDYHWREHQDPHG0HVVDJH3URFDVLWLVLQWKLVFRGH7KHDUJXPHQWV
WRWKLVIXQFWLRQDUHGHILQHGDVIROORZV XFRGH
,GHQWLILHVDQDFWLRQVSHFLILFWRWKHKRRN7KLVDUJXPHQWXVXDOO\VSHFLILHVWKHW\SHRI DFWLRQWKDWRFFXUUHGHJZLQGRZDFWLYDWLRQ ZKHQWKHDFWLRQRFFXUUHGHJWKH
ZLQGRZLVDERXWWREHGHVWUR\HG RUHYHQZKHWKHUWKHKRRNVKRXOGSURFHVVWKH
ZSDUDP
PHVVDJH
7KHYDOXHLVGHSHQGHQWRQWKHW\SHRIKRRN7KLVDUJXPHQWXVXDOO\FRQWDLQV
LQIRUPDWLRQUHODWLQJWRDPHVVDJHVXFKDVDQK:K:QGQGYLUWXDONH\FRGHV\VWHP OSDUDP
FRPPDQGYDOXHRU,'RIWKHFDSWXUHGPHVVDJH
7KHYDOXHLVGHSHQGHQWRQWKHW\SHRIKRRN7KLVDUJXPHQWXVXDOO\FRQWDLQVDSRLQWHU
WRDVWUXFWXUHWKDWUHODWHVWRWKHPHVVDJHWKDWZDVFDSWXUHG
1H[WDIWHUWKHILOWHUIXQFWLRQKDVEHHQZULWWHQWKHKRRNQHHGVWREHLQVWDOOHG7KLVLVGRQH
XVLQJWKH6HW:LQGRZV+RRN([$3,IXQFWLRQ7KLV$3,IXQFWLRQLVGHFODUHGLQ9%DVIROORZV 'HFODUH)XQFWLRQ6HW:LQGRZV+RRN([/LEXVHU$OLDV6HW:LQGRZV+RRN([$B %\9DOLG+RRN$V/RQJB
%\9DOOSIQ$V/RQJB
%\9DOKPRG$V/RQJB
%\9DOGZ7KUHDG,G$V/RQJ $V/RQJ ,WVSDUDPHWHUVDUHDVIROORZV K+RRN OSIQ KPRG
$FRQVWDQWWKDWGHILQHVWKHW\SHRIKRRNSURFHGXUHWKDWZHDUHLQVWDOOLQJ $SRLQWHUWRWKHILOWHUIXQFWLRQWKDWZHKDYHSUHYLRXVO\ZULWWHQ
,IWKHKRRNILOWHUIXQFWLRQUHVLGHVLQD'//WKLVDUJXPHQWFRQWDLQVWKHKDQGOHWRWKLV
'//7KH'//KDQGOHFDQEHREWDLQHGLQD9%DSSOLFDWLRQWKURXJKWKH$SSK,QVWDQFH
SURSHUW\,IWKHKRRNILOWHUIXQFWLRQUHVLGHVLQWKHDSSOLFDWLRQFRGHDQGQRWLQD'//
WKLVDUJXPHQWLVVHWWR18//
GZ7KUHDG,G
,IWKHKRRNILOWHUIXQFWLRQUHVLGHVLQWKHDSSOLFDWLRQFRGHDQGQRWLQD'//WKLV
DUJXPHQWLVVHWWRWKHWKUHDG,'LQZKLFKWKHKRRNILOWHUIXQFWLRQUHVLGHV,IWKHKRRN
ILOWHUIXQFWLRQUHVLGHVLQD'//WKLVDUJXPHQWLV]HUR
9%VWDQGDUG(;(DSSOLFDWLRQVDUHVLQJOHWKUHDGHGE\GHIDXOW7RJHWWKH,'RIWKH
WKUHDGWKDWFRQWDLQVWKHKRRNILOWHUIXQFWLRQ\RXXVH$SS7KUHDG,',ID9%
DSSOLFDWLRQXVHVWKH&UHDWH7KUHDG$3,IXQFWLRQWRVSDZQPXOWLSOHWKUHDGVWKH
$SS7KUHDG,'SURSHUW\ZLOOUHWXUQWKHWKUHDG,'RIWKHFXUUHQWO\H[HFXWLQJWKUHDGWKH
WRSLFRIFUHDWLQJWKUHDGVLQ9%LVEH\RQGWKHVFRSHRIWKLVERRN ,QRWKHUZRUGVLID
9%DSSOLFDWLRQFUHDWHVWZRWKUHDGVDQGVHSDUDWHFDOOVWR$SS7KUHDG,'DUHPDGHLQ
HDFKWKUHDG\RXZLOOJHWEDFNWZRGLIIHUHQWWKUHDG,'V7RJHWWKHWKUHDG,'RIWKH
WKUHDGFRQWDLQLQJWKHFRGHIRUWKHKRRNILOWHUIXQFWLRQ\RXPXVWFDOO$SS7KUHDG,'
ZLWKLQWKHVDPHWKUHDGWKDWFRQWDLQVWKHKRRNILOWHUIXQFWLRQ,IDWKUHDGWHUPLQDWHVLWV
,'LVQRORQJHUYDOLG
)RUD9LVXDO&DSSOLFDWLRQWKH*HW&XUUHQW7KUHDG,'$3,IXQFWLRQDOVRZLOOUHWXUQWKH
,'RIWKHFXUUHQWO\UXQQLQJWKUHDG*HW&XUUHQW7KUHDG,'WDNHVQRDUJXPHQWVDQG
UHWXUQVD/RQJYDOXHZKLFKLVWKHWKUHDG,'
,IWKHFDOOWR6HW:LQGRZV+RRN([LVVXFFHVVIXOLQLQVWDOOLQJWKHILOWHUIXQFWLRQLQWKHILOWHU
IXQFWLRQFKDLQWKHUHWXUQYDOXHZLOOEHDKDQGOHWRWKHKRRN VILOWHUIXQFWLRQ,I
6HW:LQGRZV+RRN([UHWXUQVD]HURDQHUURUKDVRFFXUUHG
:HXVHWKLV$3,IXQFWLRQDVVKRZQEHORZWRLQVWDOODPHVVDJHILOWHUKRRN
3ULYDWHK+RRNDV/RQJ
6XE)RUPB/RDG
K+RRN 6HW:LQGRZV+RRN([:+B06*),/7(5B
$GGUHVV2I0HVVDJH3URFB
$SS7KUHDG,'
(QG6XE
B
K+RRNLVDYDULDEOHRIW\SH/RQJWKDWVWRUHVWKHUHWXUQHGKRRNKDQGOH:HZLOOQHHGLWWR
DFFHVVWKHKDQGOHVWRUHGWRWKLVYDULDEOHLQWKHILOWHUIXQFWLRQDQGLQWKHIXQFWLRQUHVSRQVLEOH
IRUXQKRRNLQJWKHILOWHUIXQFWLRQIURPWKHKRRNSRLQW
:HDOVRQHHGWRDGGDIXQFWLRQWRRXUILOWHUIXQFWLRQWKDWZLOOFDOOWKHQH[WILOWHUIXQFWLRQLQWKH
FKDLQ7KLVLVWKH&DOO1H[W+RRN([$3,IXQFWLRQZKLFKLVGHFODUHGLQ9%DVVKRZQ
3ULYDWH'HFODUH)XQFWLRQ&DOO1H[W+RRN([/LEXVHUB
%\9DOK+RRN$V/RQJB
%\9DOQFRGH$V/RQJB
%\9DOZ3DUDP$V/RQJB
O3DUDP$V$Q\ $V/RQJ
7KHIXQFWLRQKDVWKHIROORZLQJSDUDPHWHUV K+RRN
QFRGH
7KHKDQGOHWRWKHKRRN7KLVKRRNKDQGOHLVUHWXUQHGE\WKH6HW:LQGRZ+RRN([
IXQFWLRQ
$FRQVWDQWLGHQWLI\LQJWKHKRRNFRGH
Z3DUDP
7KHZ3DUDPDUJXPHQWSDVVHGLQWRWKHKRRNILOWHUIXQFWLRQ7KHYDOXHRIWKLV
O3DUDP
DUJXPHQWLVGHSHQGHQWRQWKHPHVVDJHWKDWLWLVDVVRFLDWHGZLWK
7KHO3DUDPDUJXPHQWSDVVHGLQWRWKHKRRNILOWHUIXQFWLRQ7KHYDOXHRIWKLVDUJXPHQW
LVGHSHQGHQWRQWKHPHVVDJHWKDWLWLVDVVRFLDWHGZLWK
7KHUHWXUQYDOXHLVGHSHQGHQWRQWKHW\SHRIKRRNWKDWLVLQVWDOOHG
7KLV$3,IXQFWLRQLVVLPLODUWRWKH&DOO:LQ3URF$3,IXQFWLRQXVHGLQVXEFODVVLQJ,WZLOOSDVVRQ
WKLVILOWHUIXQFWLRQ VSDUDPHWHUVWRWKHQH[WILOWHUIXQFWLRQLQWKHFKDLQLIWKHUHLVRQH
NQRZLIVRPHRQHHOVHKDVDOUHDG\LQVWDOOHGDILOWHUIXQFWLRQIRUWKHVDPHKRRNDV\RXKDYHVR
WREHSROLWHZHSDVVWKHSDUDPHWHUVRQWRWKHQH[WILOWHUIXQFWLRQ
:KHQWKLVIXQFWLRQLVSODFHGLQWKHILOWHUIXQFWLRQLWZLOOORRNOLNHWKLVLQRXUFRGH
3XEOLF)XQFWLRQ0HVVDJH3URF %\9DOX&RGH$V/RQJB
%\9DOZ3DUDP$V/RQJB
&RGHWRKDQGOHPHVVDJHVJRHVKHUH
0HVVDJH3URF &DOO1H[W+RRN([K+RRNX&RGHZ3DUDPO3DUDP
O3DUDP$V/RQJ $V/RQJ
(QG)XQFWLRQ
7KLVILOWHUIXQFWLRQZLOOLQWHUFHSWPHVVDJHVEXWLWGRHVQRWGRDQ\WKLQJXVHIXOZLWKWKHP
+RRNLQJOLNHVXEFODVVLQJDOORZV\RXWRGRRQHRIWKUHHWKLQJVZLWKWKHLQWHUFHSWHGPHVVDJH • •
7KHPHVVDJHLQIRUPDWLRQFDQEHLJQRUHGDQGSDVVHGWKURXJKWRWKHQH[WKRRN
IXQFWLRQLQWKHFKDLQ
7KHPHVVDJHFDQEHGLVFDUGHGVRWKDWWKHQH[WILOWHUIXQFWLRQLQWKHFKDLQZLOOQRWEH
FDOOHG7KLVFRXOGEHYHU\GDQJHURXVEHFDXVHDQRWKHUDSSOLFDWLRQPLJKWDOUHDG\KDYH
DILOWHUIXQFWLRQLQVWDOOHGIRUWKLVVDPHKRRNDQGLWPLJKWQHHGWRNQRZDERXWWKH
PHVVDJHWKDW\RXMXVWGLVFDUGHG •
7KHPHVVDJHLQIRUPDWLRQFDQEHPRGLILHGDQGSDVVHGRQWRWKHQH[WILOWHUIXQFWLRQLQ
WKHFKDLQ1RWDOOKRRNVDOORZ\RXWRPRGLI\WKHPHVVDJH VLQIRUPDWLRQWKRXJK
$VZLWKPRVWWKLQJVLQ:LQGRZVDIWHU\RXXVHLW\RXPXVWFOHDQXSDIWHU\RXUVHOI$IWHUDOO
ZHGRQ WOHDYHWKHUHIULJHUDWRUGRRURSHQDIWHUJHWWLQJRXWDJODVVRIPLON6RWRRPXVWZH
DOZD\VEHFDUHIXOWRFOHDQXSDIWHURXUVHOYHVZKHQXVLQJKRRNV7RUHOHDVHDILOWHUIXQFWLRQ
IURPWKHKRRNFKDLQJUDFHIXOO\ZHPXVWXVHWKH8QKRRN:LQGRZV+RRN([$3,IXQFWLRQ7KH
9%GHFODUDWLRQRIWKLV$3,IXQFWLRQLV
3ULYDWH'HFODUH)XQFWLRQ8QKRRN:LQGRZV+RRN([/LEXVHUB %\9DOK+RRN$V/RQJ $V/RQJ
,WVVLQJOHSDUDPHWHULV K+RRN
7KHKDQGOHWRWKHKRRN7KLVKRRNKDQGOHLVUHWXUQHGE\WKH6HW:LQGRZ+RRN([
IXQFWLRQ
7KHFRGHWRXQKRRNWKHILOWHUIXQFWLRQLVVKRZQEHORZ
6XE)RUPB8QORDG
(QG6XE
'LPO5HWXUQ9DO$V/RQJ
O5HWXUQ9DO 8QKRRN:LQGRZV+RRN([K+RRN
7KH8QKRRN:LQGRZV+RRN([$3,IXQFWLRQZLOOUHPRYHWKHKRRN VILOWHUIXQFWLRQIURPWKHFKDLQ
WKDWLVDVVRFLDWHGZLWKWKHKRRNKDQGOHK+RRN5HPHPEHUWKHKDQGOHK+RRNZDVUHWXUQHG
E\WKH6HW:LQGRZV+RRN([$3,IXQFWLRQ
7KHVHDUHWKHEDVLFVRIXVLQJDKRRN7KRXJKWKHPHFKDQLFVRIFUHDWLQJDQGUHOHDVLQJDKRRN
DUHWKHVDPHUHJDUGOHVVRIKRRNW\SHHDFKRIWKHW\SHVRIKRRNIXQFWLRQVDUHYHU\
GLIIHUHQWIURPRQHDQRWKHUDQGDOOSOD\XQLTXHUROHVZLWKLQWKHV\VWHP,Q3DUW,,,RIWKLVERRN ,KDYHGHGLFDWHGDFKDSWHUWRHDFKKRRNIXQFWLRQWRIXUWKHUGLVFXVVWKHLUDSSOLFDWLRQDQG
RSHUDWLRQ
+RRN6FRSH $KRRNFDQEHLQVWDOOHGWRLQWHUFHSWPHVVDJHVIRURQHWKUHDGLQRQHSURFHVVRUIRUDOOWKUHDGV
LQDOOSURFHVVHVUXQQLQJLQWKHV\VWHP7KHVFRSHRIDKRRNGHSHQGVRQZKHUHLWUHVLGHVLQ
DQDSSOLFDWLRQRUD'// DQGKRZLWLVFUHDWHGZLWKWKH6HW:LQGRZV+RRN([$3,IXQFWLRQ7KH
WKLUGDQGIRXUWKSDUDPHWHUVRIWKLVIXQFWLRQGHWHUPLQHWKHVFRSHRIWKHKRRN 7KUHDGVSHFLILF
:KHQDKRRNRQO\LQWHUFHSWVPHVVDJHVWKDWSHUWDLQWRDVLQJOHWKUHDGWKHKRRNKDVWKUHDG
VSHFLILFVFRSH7KHVHKRRNVFDQUHVLGHLQD'//EXWXVXDOO\UHVLGHLQWKHDSSOLFDWLRQ(;(
7KHWKUHDGVSHFLILFKRRNVZHZLOOEHLQVWDOOLQJXVLQJ9%ZLOOUHVLGHLQWKHDSSOLFDWLRQ V(;(
FRGHQRWLQD'//7KUHDGVSHFLILFKRRNVPXVWVHWWKHKPRGSDUDPHWHURIWKH
6HW:LQGRZV+RRN([IXQFWLRQWR]HURPHDQLQJWKDWWKHKRRNILOWHUIXQFWLRQZLOOEHORFDWHG
ZLWKLQWKHFRGHUXQQLQJLQDWKUHDGLQVLGHWKHDSSOLFDWLRQ7KHGZ7KUHDG,GSDUDPHWHULVVHW HTXDOWRWKHWKUHDG,'RIWKHDSSOLFDWLRQWKDWZLOOLQVWDOOWKHILOWHUIXQFWLRQ
+RRNVWKDWFDQKDYHWKUHDGVSHFLILFVFRSHDUH • • • • • • • • • •
:+B&$//:1'352&
:+B&$//:1'352&5(7
:+B&%7
:+B'(%8*
:+B)25(*5281','/(
:+B*(70(66$*(
:+B.(<%2$5'
:+B0286(
:+B06*),/7(5 :+B6+(//
6\VWHPZLGH +RRNVWKDWFDQLQWHUFHSWPHVVDJHVGLVSDWFKHGWRDOOWKUHDGVLQWKHV\VWHPDUHFRQVLGHUHGWR
KDYHJOREDORUV\VWHPZLGHVFRSH7KHILOWHUIXQFWLRQVIRUWKHVHW\SHVRIKRRNVPXVWEH
FRQWDLQHGZLWKLQD:LQ'//
7RFUHDWHDV\VWHPZLGHKRRN6HW:LQGRZ+RRN([LVFDOOHGZLWKWKHKPRGDUJXPHQWVHWWR
WKH'//KDQGOHDQGWKHGZ7KUHDG,'DUJXPHQWVHWWR18//6HWWLQJWKHGZ7KUHDG,'
DUJXPHQWWR18//LQIRUPVWKHV\VWHPWKDWWKLVKRRNVKRXOGEHLQVWDOOHGIRUHYHU\WKUHDG
UXQQLQJLQHYHU\SURFHVV,IWKLVDUJXPHQWLVVHWWRDYDOLGWKUHDG,'WKHV\VWHPLQVWDOOVD
KRRNVSHFLILFDOO\IRUWKHWKUHDGKDYLQJWKLV,':KHQWKHV\VWHPFUHDWHVWKLVKRRNLWLQMHFWVRU
PDSVWKH'//ZLWKWKHKDQGOHIRXQGLQWKHKPRGDUJXPHQWLQWRHYHU\UXQQLQJSURFHVVRQWKH
V\VWHP7REHPRUHSUHFLVHZKHQWKHV\VWHPLVDOHUWHGWKDWDV\VWHPZLGHILOWHUIXQFWLRQ
QHHGVWREHFDOOHGIRUWKHILUVWWLPHE\DWKUHDGWKHV\VWHPZLOOGHWHUPLQHLIWKH'//
FRQWDLQLQJWKHKRRNILOWHUIXQFWLRQKDVEHHQPDSSHGLQWRWKHSURFHVVFRQWDLQLQJWKDWWKUHDG,I
LWFDQQRWEHORFDWHGLWLVPDSSHGLQWRWKHSURFHVVDWWKLVSRLQW7KLVDOORZVHDFKSURFHVVWR KDYHLWVRZQPDSSLQJRIWKHKRRNILOWHUIXQFWLRQFRGHFRQWDLQHGZLWKLQWKH'//
1RZWKDWD'//LVLQMHFWHGLQWRHYHU\SURFHVVWKDWLVUXQQLQJLQWKHV\VWHPZHKDYHWKH
SUREOHPRIUHPRYLQJRUXQPDSSLQJWKH'//IURPHDFKSURFHVVVSDFHZKHQZHUHPRYHWKH
KRRN)RUWXQDWHO\:LQGRZVWDNHVFDUHRIWKLVIRUXVZKHQ8QKRRN:LQGRZV+RRN([LVFDOOHG
7KLVIXQFWLRQLWHUDWHVWKURXJKHYHU\SURFHVVWKDWLVFXUUHQWO\UXQQLQJLQWKHV\VWHPDQG
GHFUHPHQWVWKHORFNVKHOGRQHDFK'//E\RQH,IQRRWKHUUHVRXUFHKROGVDORFNRQWKH'//
LWLVDXWRPDWLFDOO\XQPDSSHGIURPWKHSURFHVVVSDFH
$OOKRRNVFDQKDYHV\VWHPZLGHVFRSH7KHIROORZLQJKRRNVKRZHYHUFDQEHXVHGRQO\DV
V\VWHPZLGHKRRNV
• • • • •
:+B-2851$/3/$<%$&. :+B-2851$/5(&25' :+B0286(B//
:+B.(<%2$5'B//
:+B6<606*),/7(5
:K\'R:H8VH+RRNV" +RRNVOLNHVXEFODVVLQJDUHXVHGWRDXJPHQWDSSOLFDWLRQVZLWKIXQFWLRQDOLW\WKDWFDQ WEH
SURJUDPPHGWKURXJKVWDQGDUGWHFKQLTXHV,ILWZHUHQRWIRUKRRNVVRPHV\VWHPIHDWXUHV
ZRXOGEHLQDFFHVVLEOHWRWKH9%SURJUDPPHUDQGWRDOHVVHUH[WHQWWRWKH9LVXDO&
SURJUDPPHU
+RRNVDOORZXVWRZULWHSURJUDPVWKDW • • •
3URYLGHIXQFWLRQNH\VXSSRUWWRGLDORJER[HVZLWKLQRXUDSSOLFDWLRQLQFOXGLQJ
PHVVDJHVER[HVZKLFKDUHDVSHFLDOW\SHRIPRGDOGLDORJER[
5HFRUGDQGSOD\EDFNPRXVHDFWLRQVDQGNH\VWURNHVVLPLODUWRWKHPDFURUHFRUGHU
IRXQGLQ0LFURVRIW([FHODQG0LFURVRIW:RUG
:DWFKIRURQHRUPRUHPHVVDJHVZLWKLQDQDSSOLFDWLRQRUWKHV\VWHPDQGDFWRQMXVW
WKRVHVSHFLILFPHVVDJHV3URJUDPVRIWKLVW\SHVXFKDV6S\PDNHH[WHQVLYHXVH
RIKRRNV • • •
&%7DSSOLFDWLRQVZRXOGEHGLIILFXOWLIQRWLPSRVVLEOHWRFUHDWHZLWKRXWXVLQJVSHFLDO
KRRNVGHVLJQHGIRU&%7DSSOLFDWLRQV
$XWRPDWHGWHVWLQJDSSOLFDWLRQVDUHDQRWKHUW\SHRIDSSOLFDWLRQWKDWXVHVPDQ\RIWKH
KRRNVLQ:LQGRZV
6XEFODVVLQJDZLQGRZLQDQRWKHUSURFHVVFDQEHPLPLFNHGE\XVLQJKRRNV
$V\RXFDQVHHWKHUHDUHPDQ\JRRGXVHVIRUKRRNV
'HFLGLQJ%HWZHHQ+RRNLQJRU6XEFODVVLQJ :KHQGHFLGLQJZKHWKHUWRLPSOHPHQWVXEFODVVLQJRUKRRNLQJWKHUHDUHPDQ\IDFWRUVWR
FRQVLGHU(DFKWHFKQLTXHKDVLWVRZQSURVDQGFRQV2QHRIWKHPDLQIDFWRUVWRFRQVLGHULV SHUIRUPDQFH$V\VWHPZLGHKRRNLVWKHZRUVWRIIHQGHU7KHUHDUHWZRELJSHUIRUPDQFH
GHWUDFWRUVIRUWKLVW\SHRIKRRN7KHILUVWLVWKDWWKHKRRNZLOOLQFXUSURFHVVLQJRYHUKHDGIRU
HDFKDSSOLFDWLRQLQWKHV\VWHPUHJDUGOHVVRIZKHWKHUWKHDSSOLFDWLRQPDNHVXVHRIWKHKRRN
5HPHPEHUWKH'//FRQWDLQLQJWKHKRRNIXQFWLRQLVLQMHFWHGLQWRHYHU\UXQQLQJSURFHVVRQWKH
V\VWHP7KHVHFRQGSUREOHPLVWKDWDV\VWHPZLGHKRRNZLOOVHULDOL]HDOOPHVVDJHVWKDW
SHUWDLQWRWKHVSHFLILFKRRN7KLVPHDQVWKDWLQVWHDGRIPHVVDJHVJRLQJGLUHFWO\LQWRWKH
PHVVDJHTXHXHVWKH\DUHILUVWURXWHGWKURXJKWKHLQVWDOOHGKRRN VILOWHUIXQFWLRQZKLFK
UHVLGHVLQWKH'//7KHVHPHVVDJHVSDVVWKURXJKWKH'//LQDVHULDOL]HGIDVKLRQRQHDIWHU
WKHRWKHU
7KUHDGVSHFLILFKRRNVFDQEHVHULRXVRIIHQGHUVDVZHOOEXWWKHSHUIRUPDQFHKLWLVDERXWWKH
VDPHDVZLWKVXEFODVVLQJ7KLVLVEHFDXVHERWKWHFKQLTXHVLQYROYHFDSWXULQJPHVVDJHVIRU
RQO\RQHSDUWLFXODUWKUHDG7KLVSODFHVVLJQLILFDQWO\OHVVVWUHVVRQWKHV\VWHPWKDQFDSWXULQJ
PHVVDJHVIRUHYHU\UXQQLQJWKUHDGLQWKHV\VWHP,QVWDQFHVXEFODVVLQJRIIHUVWKHEHVW
SHUIRUPDQFHRIWKHYDULRXVWHFKQLTXHVEHFDXVHRQO\PHVVDJHVIRUDVLQJOHZLQGRZDUH
FDSWXUHG
7DEOHDQG7DEOHGHWDLOWKHPDLQSURVDQGFRQVRIXVLQJKRRNVDQGVXEFODVVLQJ 7DEOH3URVDQG&RQVRI8VLQJ+RRNV 3URV
&RQV
$OORZV9%DFFHVVWRPRUHSRZHUIXO
'HJUDGHVSHUIRUPDQFHPRUHWKDQ
IXQFWLRQDOLW\QRWRWKHUZLVHDYDLODEOH
VXEFODVVLQJ
6\VWHPZLGHKRRNVPXVWEHSODFHGLQD
&DQRSHUDWHRQDVLQJOHZLQGRZLQDSURFHVV :LQ'//ZKLFKLVLQMHFWHGLQWRHYHU\
SURFHVVZKLFKFDOOVWKHKRRNILOWHUIXQFWLRQ
&DQRSHUDWHRQPXOWLSOHZLQGRZVLQPXOWLSOH
SURFHVVHV
7KH:LQ'//XVHGLQV\VWHPZLGHKRRNLQJ
FDQQRWEHIRUFLEO\UHPRYHGIURPHDFK
SURFHVVDIWHUWKHKRRNLVXQLQVWDOOHG
,IDSUHFHGLQJKRRNGRHVQRWSDVVDPHVVDJH
)LIWHHQGLIIHUHQWW\SHVRIKRRNVFDQEHXWLOL]HG DORQJWR\RXUKRRNLWZLOOQHYHUNQRZWKDWWKH PHVVDJHZDVVHQW
0RUHWKDQRQHILOWHUIXQFWLRQFDQEHLQVWDOOHG IRUDVLQJOHKRRN
,WLVSRVVLEOHWRLQHIIHFWVXEFODVVDZLQGRZLQ
DVHSDUDWHSURFHVVE\XVLQJWKH :+B*(70(66$*(KRRN
7DEOH3URVDQG&RQVRI8VLQJ6XEFODVVLQJ 3URV $OORZV9%DFFHVVWRPRUHSRZHUIXO
IXQFWLRQDOLW\QRWRWKHUZLVHDYDLODEOH $UHOHVVRIDEXUGHQRQWKHV\VWHP WKDQKRRNV
$VLQJOHZLQGRZFDQEHVXEFODVVHG PXOWLSOHWLPHV
0XOWLSOHZLQGRZVRIWKHVDPHFODVV
&RQV &DQRSHUDWHRQO\RQZLQGRZVZLWKLQDVLQJOHSURFHVV &DQSRVVLEO\GHJUDGHSHUIRUPDQFH ,IFULWLFDOPHVVDJHVDUHQRWSDVVHGEDFNWRWKHRULJLQDO
ZLQGRZSURFHGXUHWKHDSSOLFDWLRQPLJKWVHHPDVLILW
LVIUR]HQ
0XOWLSOHZLQGRZVKDYLQJGLIIHUHQWFODVVHVFDQQRWEH
FDQEHVXEFODVVHGZLWKDVLQJOHFDOO VXEFODVVHGZLWKDVLQJOHFDOOWR6HW&ODVV/RQJ3WUWKLV WR6HW&ODVV/RQJ3WU
$VLQJOHFODVVFDQEHVXEFODVVHG
XVLQJJOREDOVXEFODVVLQJRU
VXSHUFODVVLQJ
IXQFWLRQPXVWEHFDOOHGVHSDUDWHO\IRUHDFKFODVV
5HJDUGOHVVRIKRZVRXQG\RXUFKRLFHRIWHFKQLTXHWKRXJKEDGO\ZULWWHQFRGHZLOOFDXVHDQ\
RIWKHVHWHFKQLTXHVWRJUHDWO\GHJUDGHSHUIRUPDQFH(DFKRIWKHFKDSWHUVLQ3DUW,,DQG3DUW
,,,DOVRZLOOVKRZZKHUHSHUIRUPDQFHFDQEHDIIHFWHGE\LQFRUUHFWO\RUSRRUO\ZULWWHQFRGH
3DUW,,6XEFODVVLQJDQG6XSHUFODVVLQJ ,QWKLVVHFWLRQZH OOH[SORUHWHFKQLTXHVIRUVXEFODVVLQJZLQGRZVGLDORJ
ER[HVDQG$FWLYH;FRQWUROV,QDGGLWLRQZH OOH[SORUHWKHUHODWHGWHFKQLTXHRI
VXSHUFODVVLQJ)LQDOO\EHFDXVHVXEFODVVHGDQGVXSHUFODVVHGDSSOLFDWLRQV
DUHRIWHQXQVWDEOHEHFDXVHRIWKHGHYHORSHU VIDLOXUHIRUZKDWHYHUUHDVRQ WR
IROORZDOOWKHUXOHVRIVXEFODVVLQJDQGVXSHUFODVVLQJZH OOH[DPLQH
WHFKQLTXHVIRUGHEXJJLQJDQDSSOLFDWLRQDQGGHWHFWLQJZKDWLVFDXVLQJWKH
DSSOLFDWLRQWREHKDYHLQXQLQWHQGHGZD\V
&KDSWHU6XEFODVVLQJ 7KLVFKDSWHUWDNHV\RXGHHSHULQWRWKHVXEMHFWRIVXEFODVVLQJVWDUWLQJRIIZLWKDGLVFXVVLRQRI
WKH$GGUHVV2IRSHUDWRU$IDLUDPRXQWRIGLVFXVVLRQLVJLYHQWRWKLVRSHUDWRUEHFDXVHLWSOD\V
DSLYRWDOUROHLQXVLQJ9LVXDO%DVLF9% WRVXEFODVVZLQGRZV3UHVHQWHGQH[WZLOOEHWKHWZR
W\SHVRIVXEFODVVLQJLQVWDQFHDQGJOREDOVXEFODVVLQJ7KHLUVLPLODULWLHVGLIIHUHQFHVDQG
DSSOLFDWLRQVDUHGLVFXVVHGDWOHQJWK&RGHH[DPSOHVZLOOEHSUHVHQWHGIRUERWKW\SHVRI
VXEFODVVLQJ7KHVHH[DPSOHVDUHPHDQWWREHIRULOOXVWUDWLRQRQO\VXFKWKLQJVDVHUURU KDQGOLQJFRGHZLOOEHRPLWWHGIRUFODULW\
$VZHSURJUHVVWKURXJKWKLVFKDSWHU,ZLOOEHSODFLQJWKHNH\SRLQWVDQGUXOHVRIVXEFODVVLQJ
LQEROGW\SH7KHVHSRLQWVDQGUXOHVZLOOEHVXPPDUL]HGDWWKHFRQFOXVLRQRIWKHFKDSWHU
7KH$GGUHVV2I2SHUDWRU 7KH$GGUHVV2IRSHUDWRUILUVWLQWURGXFHGLQ9HUVLRQRI9%JDYHGHYHORSHUVOLPLWHGDFFHVV
WRSRLQWHUVDIHDWXUHWKDW9%HIIHFWLYHO\KLGHVIURPWKHPEXWWKDWLVHVVHQWLDOWRKLJKHQG
GHYHORSPHQWHQYLURQPHQWVVXFKDV9LVXDO&7KH$GGUHVV2IRSHUDWRUJUHDWO\LQFUHDVHV
WKHSRWHQWLDORID9%DSSOLFDWLRQ$VZHVKDOOVHHWKRXJKWKHUHDUHDOZD\VEXPSVLQWKHURDG
ZKHQLPSOHPHQWLQJPRUHDGYDQFHGIXQFWLRQDOLW\DQG$GGUHVV2IKDVVHYHUDORIWKHP
$GGUHVV2ISURYLGHVWKH9%GHYHORSHUZLWKDVLPSOHZD\RIXVLQJIXQFWLRQSRLQWHUVZLWKRXW
UHO\LQJRQDQRWKHUODQJXDJH$IXQFWLRQSRLQWHULVVLPSO\DYDULDEOHWKDWFRQWDLQVWKHPHPRU\
ORFDWLRQRIDVLQJOHIXQFWLRQ,QRWKHUZRUGVWKLVYDULDEOHSRLQWVWRDIXQFWLRQ1RZLQVWHDGRI
KDYLQJWRXVHWKHIXQFWLRQQDPHWRFDOOWKHIXQFWLRQZHFDQLQVWHDGXVHWKHIXQFWLRQSRLQWHUWR
FDOOWKHIXQFWLRQ
$FDOOEDFNRUFDOOEDFNIXQFWLRQLVWKHIXQFWLRQZKLFKWKHIXQFWLRQSRLQWHUUHIHUHQFHV&RGHWKDW
UHFHLYHVDIXQFWLRQSRLQWHUFDQXVHLWWRFDOOEDFNKHQFHWKHQDPHFDOOEDFN WRWKDWIXQFWLRQ
8VXDOO\WKHVHFDOOEDFNIXQFWLRQVDUHVPDOOLQVL]HEHFDXVHWKH\PLJKWEHFDOOHGPDQ\WLPHV
SHUVHFRQGDQGDIIHFWDSSOLFDWLRQSHUIRUPDQFH
)XQFWLRQSRLQWHUVDQGFDOOEDFNIXQFWLRQVDUHPDLQO\XVHGIRUDV\QFKURQRXVSURFHVVLQJDQG
ZLWKWKHHQXPHUDWLRQDSSOLFDWLRQSURJUDPPLQJLQWHUIDFH$3, IXQFWLRQV(QXP:LQGRZV
(QXP&KLOG:LQGRZVDQG(QXP'HVNWRS:LQGRZVDUHMXVWVRPHRI:LQGRZV HQXPHUDWLRQ$3,
IXQFWLRQV7KHVHIXQFWLRQVHDFKWDNHDIXQFWLRQSRLQWHULQWKHLUDUJXPHQWOLVW7KLVIXQFWLRQ
SRLQWHULVXVHGWRLQYRNHDFDOOEDFNIXQFWLRQIRUHDFKLWHPDZLQGRZLQWKLVFDVHIRXQGE\
WKH$3,IXQFWLRQ:H OOORRNDWVRPHH[DPSOHVRIHQXPHUDWLRQIXQFWLRQVDQGDV\QFKURQRXV
SURFHVVLQJODWHULQWKLVVHFWLRQ
8VLQJ$GGUHVV2I
7KHUXOHVGHILQLQJKRZ$GGUHVV2IPXVWEHXVHGJUHDWO\OLPLWLWVIXQFWLRQDOLW\DQGPDNHLWIDU
OHVVSRZHUIXOWKDQPDQ\9%GHYHORSHUVKDGRULJLQDOO\KRSHG,WVHHPVWKDW0LFURVRIW VSODQV
IRULQWURGXFLQJ9%GHYHORSHUVWRIXQFWLRQSRLQWHUVZDVSULPDULO\PHDQWWRDOORZDFFHVVWR
:LQGRZV$3,IXQFWLRQVWKDWZHUHSUHYLRXVO\XQXVDEOH*UHDWEXWZKDWDERXWXVLQJIXQFWLRQ
SRLQWHUVZLWKLQDSXUH9%DSSOLFDWLRQ"%\WKLV,PHDQFDOOLQJD9%IXQFWLRQDQGSDVVLQJLWD
IXQFWLRQSRLQWHUXVLQJ$GGUHVV2I7KLVFDOOHGIXQFWLRQZRXOGDFFHSWWKHIXQFWLRQSRLQWHUDQG
XVHLWWRGLUHFWO\FDOODFDOOEDFNIXQFWLRQ7KHDQVZHULVWKDW$GGUHVV2IFDQQRWEHXVHGLQWKLV
PDQQHU'LVDSSRLQWLQJ\HVEXWZHVWLOOKDYHWKHXVHRIPDQ\$3,IXQFWLRQVWKDWZHUH
SUHYLRXVO\XQXVDEOH
7KHUHDUHVHYHUDORWKHUOLPLWDWLRQVDQGSUREOHPVWRZDWFKRXWIRUZKHQXVLQJ$GGUHVV2ILQ
\RXUDSSOLFDWLRQV$GGUHVV2IPXVWEHSODFHGLPPHGLDWHO\EHIRUHDIXQFWLRQQDPHLQDQ
DUJXPHQWOLVWIRUDFDOOHGIXQFWLRQ)RUH[DPSOH
&DOO'//)XQFWLRQKZQG$GGUHVV2I9%&DOOEDFN)XQFWLRQ
7KLVDUJXPHQWPXVWEHWKHQDPHRIDSUHYLRXVO\GHILQHGIXQFWLRQ%HFDXVHDQ\NLQGRI
SRLQWHULVXVHOHVVRXWVLGHRIWKHSURFHVVWKDWFUHDWHGLWLWPDNHVVHQVHWKDWWKHIXQFWLRQWKDW
$GGUHVV2ISUHFHGHVPXVWEHLQWKHVDPHSURFHVV
$GGUHVV2IFDQEHXVHGRQO\ZLWK9%IXQFWLRQVVXEVDQGSURSHUWLHV
DSRLQWHUWRDQ$3,IXQFWLRQWKDW\RXKDYHGHFODUHGLQ\RXUFRGHXVLQJWKH'HFODUHVWDWHPHQW
)RUH[DPSOH\RXFDQQRWGRWKHIROORZLQJ
5HW9DO (QXP:LQGRZV$GGUHVV2I(QXP&KLOG:LQGRZV
(QXP&KLOG:LQGRZVLVD:LQGRZVGHILQHG$3,IXQFWLRQQRWD9%IXQFWLRQVXERUSURSHUW\
7KLVZLOOFDXVHDQHUURUZKHQFRPSLOLQJ\RXUDSSOLFDWLRQ
,WZRXOGEHQLFHLIWKHIXQFWLRQZKRVHSRLQWHUZHSDVVXVLQJWKH$GGUHVV2IRSHUDWRUFRXOG
UHVLGHDQ\ZKHUHLQRXU9%DSSOLFDWLRQEXWXQIRUWXQDWHO\WKLVLVQRWSHUPLWWHG
,WLVDOVRLPSRUWDQWWKDWDQ\IXQFWLRQWKDWLVSDVVHGDIXQFWLRQSRLQWHUNQRZVH[DFWO\KRZWR
FDOOWKHFDOOEDFNIXQFWLRQ7KHSDUDPHWHUOLVWVRIWKHFDOOEDFNIXQFWLRQDQGWKHFRGHWKDWZLOOEH
FDOOLQJLWPXVWPDWFKH[DFWO\LQQXPEHUDQGLQW\SH
3HUKDSVWKHPRVWVLJQLILFDQWOLPLWDWLRQRIXVLQJFDOOEDFNVLVWKDWWKHIXQFWLRQSRLQWHGWRE\WKH
$GGUHVV2IRSHUDWRUPXVWUHVLGHLQDFRGH%$6 PRGXOHUDWKHUWKDQDIRUP)50 RUFODVV
&/6 PRGXOH2IFRXUVHZHFDQFDOOIXQFWLRQVZLWKLQWKH&/6RU)50ILOHVIURPWKHFDOOEDFN
LQWKH%$6PRGXOHEXWRXUSUREOHPUHPDLQVWKDWZHFDQQRWFOHDQO\SDFNDJHRXUFDOOEDFN
IXQFWLRQLQWRDQREMHFW
&DOOEDFNIXQFWLRQVLQFOXGLQJVXEFODVVHGZLQGRZ
SURFHGXUHV PXVWUHVLGHLQD%$6PRGXOH
IURP%$6PRGXOHVRQO\RQHFRS\RIWKHGDWDLQD%$6PRGXOHLVVWRUHGLQWKHDSSOLFDWLRQ V
SURFHVVVSDFHZKLOH)50DQG&/6PRGXOHGDWDFDQEHLQVWDQWLDWHGPXOWLSOHWLPHVZLWKHDFK
FRS\RIWKHREMHFWKDYLQJLWVRZQGDWD$ORQJZLWKLQVWDQWLDWLQJD)50RU&/6PRGXOH\RX
DOVRFDQGHVWUR\LWE\VHWWLQJLWWRHTXDO1RWKLQJDVIROORZV
6HW&2EM 1RWKLQJ
7KLVLQHIIHFWUHPRYHVDOOWUDFHVRIWKDWLQVWDQFHRIWKHREMHFWIURPWKHSURFHVV VDGGUHVV
VSDFH7KLQNKRZPXFKWURXEOHZHFRXOGJHWRXUVHOYHVLQWRLIZHGHVWUR\HGDQREMHFWWKDW
FRQWDLQHGWKHVXEFODVVHGZLQGRZSURFHGXUHEHIRUHZHKDGUHSODFHGLWZLWKWKHRULJLQDO
ZLQGRZSURFHGXUH7KHUHVXOWVZRXOGEHGLVDVWURXV6LPLODUSUREOHPVZRXOGDULVHLIZHWULHG
WRXVH6HW:LQGRZ/RQJ3WUWRLQVHUWWKHVXEFODVVHGZLQGRZSURFHGXUHIURPDQREMHFWWKDWKDG
QRWEHHQFUHDWHG
:LWKLQWKH%$6PRGXOHWKHFDOOEDFNSURFHGXUHVVKRXOGEHGHILQHGDV3XEOLF$SXEOLF
IXQFWLRQLQD%$6PRGXOHLVDOZD\VYLVLEOHIURPDQ\ZKHUHLQWKHDSSOLFDWLRQ$SXEOLFIXQFWLRQ
LQD)50RU&/6PRGXOHLVRQO\YLVLEOHZKHQ\RXKDYHVXFFHVVIXOO\FUHDWHGDQREMHFW
YDULDEOHUHIHUHQFLQJWKDWREMHFW)50RU&/6PRGXOH
'HILQHDFDOOEDFNIXQFWLRQLQFOXGLQJDVXEFODVVHGZLQGRZ
SURFHGXUH DV3XEOLF
7KHUHLVRQHODVWSUREOHPZLWKDOORZLQJFDOOEDFNIXQFWLRQVWRUHVLGHLQ)50RU&/6PRGXOHV
WKH\XVHYWDEOHVWRJHWWRWKHLUIXQFWLRQV$)50RU&/6PRGXOHLVEDVLFDOO\D&RPSRQHQW
2EMHFW0RGHO&20 REMHFWWKDWLVWKH\DGKHUHWRWKH&20VWDQGDUGV7KLVPHDQVWKDWDQ
H[WUDOHYHORIDEVWUDFWLRQH[LVWVWRJHWWRWKDWREMHFW VSXEOLFIXQFWLRQV%$6PRGXOHVEHFDXVH
WKH\DUHQRW&20REMHFWVGRQRWKDYHWKLVH[WUDOD\HURIDEVWUDFWLRQDQGWKHUHIRUHWKHLU
SXEOLFIXQFWLRQVDUHGLUHFWO\DFFHVVLEOHIURPDQ\ZKHUHLQWKHDSSOLFDWLRQ VFRGH
)LQDOO\LW VLPSRUWDQWWRXQGHUVWDQGWKDWZKHQ\RXSDVVDIXQFWLRQSRLQWHUXVLQJ$GGUHVV2I
\RXDUHDUUDQJLQJIRUVRPHURXWLQHXVXDOO\DIXQFWLRQLQWKH:LQ$3, WKDW VH[WHUQDOWR
\RXUDSSOLFDWLRQWRWHPSRUDULO\SDVVIORZFRQWUROWRDURXWLQHLQ\RXURZQDSSOLFDWLRQWKDWLVWR
WKHFDOOEDFNIXQFWLRQ %HFDXVHIURP\RXUSRLQWRIYLHZWKLVH[WHUQDOURXWLQHLVDEODFNER[
WKDW VEH\RQG\RXUFRQWURO\RXVKRXOGQRWUDLVHDQ\HUURUVLQWKHFDOOEDFNIXQFWLRQWKDWDUH
SURSDJDWHGEDFNWRWKHFDOOLQJURXWLQH
HUURU,IQHFHVVDU\\RXFDQFKHFNWKH(UUREMHFWWRVHHLIDQHUURUKDVEHHQUDLVHGZKLOHVWLOO
LQVLGHWKH9%FDOOEDFNIXQFWLRQ,IRQHKDVEHHQUDLVHG\RXVKRXOGKDQGOHLWLPPHGLDWHO\
FOHDUWKHHUURUDQGFRQWLQXHRQ
8VH2Q(UURU5HVXPH1H[WIRUHUURUKDQGOLQJLQWKHFDOOEDFN
IXQFWLRQ
&DOOEDFNVDQG(QXPHUDWLRQ)XQFWLRQV
7RVHHKRZFDOOEDFNIXQFWLRQVZRUNZLWKWKH:LQHQXPHUDWLRQIXQFWLRQVOHW VXVH
(QXP&KLOG:LQGRZVLQDVLPSOHH[DPSOH(QXP&KLOG:LQGRZVLVGHFODUHGLQ9%LQWKH
IROORZLQJPDQQHU
3XEOLF'HFODUH)XQFWLRQ(QXP&KLOG:LQGRZV/LEXVHU$OLDV(QXP&KLOG:LQGRZVB
,WVSDUDPHWHUVDUH
%\9DOK:QG3DUHQW$V/RQJ%\9DOOS(QXP)XQF$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
K:QG3DUHQW
7KHKDQGOHWRWKHSDUHQWZLQGRZZKRVHFKLOGZLQGRZVZHZDQWWRHQXPHUDWH
OS(QXP)XQF O3DUDP
$SRLQWHUWRDFDOOEDFNIXQFWLRQ
$Q\RWKHUGDWDWKDWQHHGVWREHVHQWWRWKHFDOOEDFNIXQFWLRQ
7RXVHWKLVIXQFWLRQDFDOOEDFNSURFHGXUHQHHGVWREHZULWWHQ7KHFDOOEDFNIXQFWLRQIRUWKLV
H[DPSOHZLOOEHFDOOHG(QXP3URF7KHGRFXPHQWDWLRQIRU(QXP&KLOG:LQGRZVDOVRGHVFULEHV
WKLVFDOOEDFNIXQFWLRQLQGHWDLO,WPXVWKDYHWKHSURWRW\SH
3XEOLF)XQFWLRQ(QXP3URF%\9DOK:QG$V/RQJO3DUDP$V/RQJ $V/RQJ
7KLVIXQFWLRQWDNHVWZRDUJXPHQWV7KHILUVWK:QGLVDKDQGOHWRDZLQGRZLQWKH
HQXPHUDWLRQOLVW7KHVHFRQGDUJXPHQWLVO3DUDPZKLFKUHFHLYHVDGHYHORSHUGHILQHGYDOXH
%HFDXVHLWLVSDVVHGE\UHIHUHQFHWKLVYDOXHDOVRLVSDVVHGEDFNWRWKHFDOOLQJURXWLQH8VLQJ
WKLVDUJXPHQWRQHFDQSDVVLQIRUPDWLRQLQWRDQGRXWRIWKLVFDOOEDFNIXQFWLRQ7RFRQWLQXH
HQXPHUDWLQJZLQGRZVWKLVIXQFWLRQVKRXOGUHWXUQ758(WRVWRSHQXPHUDWLQJWKHPLWVKRXOG
UHWXUQ)$/6(7KXVDYHU\VLPSOH(QXP3URFFDOOEDFNIXQFWLRQDSSHDUVDVIROORZV
3XEOLF)XQFWLRQ(QXP3URF%\9DOK:QG$V/RQJO3DUDP$V/RQJ $V/RQJ
'RZRUNKHUH
(QXP3URF 7UXH
(QG)XQFWLRQ
1RZWKDWZHKDYHDFDOOEDFNIXQFWLRQZHFDQZULWHWKHFRGHWRFDOOWKH(QXP&KLOG:LQGRZV
IXQFWLRQ7KHILUVWDUJXPHQWWRWKLVIXQFWLRQLV$GGUHVV2I(QXP3URF7KLVHYDOXDWHVWRD
IXQFWLRQSRLQWHUZKLFKSRLQWVWRWKH(QXP3URFIXQFWLRQ7KHVHFRQGDUJXPHQWLV]HURZKLFK
LVSDVVHGLQWRWKHO3DUDPDUJXPHQWIRUWKH(QXP3URFIXQFWLRQ
6XE0DLQ
(QG6XE
5HW9DO (QXP&KLOG:LQGRZV$GGUHVV2I(QXP3URF
:KHQWKLVSURJUDPLVUXQLWZLOOFDOO(QXP&KLOG:LQGRZV7KLVIXQFWLRQLQWXUQFDOOVWKH
(QXP3URFFDOOEDFNIXQFWLRQRQFHIRUHYHU\WRSOHYHOZLQGRZFXUUHQWO\UXQQLQJLQWKHV\VWHP
:KHQ(QXP:LQGRZVLVILQLVKHGSURFHVVLQJLWUHWXUQVFRQWUROWRWKH0DLQIXQFWLRQ
&DOOEDFNVDQG$V\QFKURQRXV3URFHVVLQJ
$V\QFKURQRXVSURFHVVLQJLVGLIIHUHQWIURPDQHQXPHUDWLRQIXQFWLRQ$V\QFKURQRXV
SURFHVVLQJDOORZVFRGHLQWKHPDLQDSSOLFDWLRQWRFDOODIXQFWLRQDQGWKHQLPPHGLDWHO\UHWXUQ
DQGFRQWLQXHH[HFXWLRQRIWKHPDLQDSSOLFDWLRQ VFRGHEHIRUHWKHIXQFWLRQ VFRGHKDVILQLVKHG
SURFHVVLQJ:LWKLW\RXFDQZULWHFRGHWKDWDOORZVDXVHUWRSHUIRUPVRPHWLPHFRQVXPLQJ
WDVNVXFKDVVRUWLQJDODUJHDPRXQWRILQIRUPDWLRQDQGWKHXVHUZLOOEHDEOHWRFRQWLQXH
XVLQJWKHVDPHDSSOLFDWLRQZLWKRXWZDLWLQJIRUWKHVRUWLQJWRILQLVK7KLVJLYHVWKHXVHUWKH
LOOXVLRQRIDIDVWDSSOLFDWLRQHYHQWKRXJKWKHVRUWLQJPLJKWWDNHTXLWHVRPHWLPH
$FDOOEDFNIXQFWLRQFDQEHFDOOHGGXULQJWKHVRUWLQJSURFHVVWRGHWHUPLQHLIWKHXVHUKDV
FDQFHOHGWKHDFWLRQ,QSURFHVVLQJLQYROYLQJODUJHQHVWHGORRSV\RXFDQXVHDIXQFWLRQ
SRLQWHUWRFDOODFDOOEDFNIXQFWLRQZKLFKGHWHUPLQHVLIWKHXVHUKDVFOLFNHGD&DQFHOEXWWRQ,I
VRWKHFDOOEDFNIXQFWLRQUHWXUQVDVWDWXVFRGHLQIRUPLQJWKHVRUWLQJURXWLQHWKDWWKHXVHU
ZDQWVWRFDQFHOWKHVRUWLQJRSHUDWLRQ7KHRSHUDWLRQLVFDQFHOHGDQGWKHDSSOLFDWLRQSURFHHGV
RQZDUG
$FDOOEDFNIXQFWLRQDOVRFRXOGEHFDOOHGWRLQIRUPWKHDSSOLFDWLRQRIWKHVRUWLQJRSHUDWLRQ V
SURJUHVV7KHDSSOLFDWLRQFRXOGWKHQXSGDWHVWDWXVLQIRUPDWLRQGLVSOD\HGWRWKHXVHUWKDW
NHHSVWKHXVHULQIRUPHGRIKRZPXFKZRUNVWLOOQHHGVWREHGRQHE\WKHVRUWURXWLQH
)LJXUHLOOXVWUDWHVWKHRUGHULQZKLFKIXQFWLRQVDUHFDOOHGIRUD9%DSSOLFDWLRQLPSOHPHQWLQJ
DV\QFKURQRXVSURFHVVLQJ,QVWHSDIXQFWLRQ0DLQ LQWKH%$6ILOHFDOOVDIXQFWLRQLQD
G\QDPLFOLQNOLEUDU\'// DQGSDVVHVLWDIXQFWLRQSRLQWHUWRWKH&%FDOOEDFNIXQFWLRQDOVR
ZLWKLQWKH%$6ILOH,QVWHSWKH'//IXQFWLRQ'//)XQFW XVHVWKLVIXQFWLRQSRLQWHUWRFDOOWKH
IXQFWLRQ&%LQWKH%$6ILOHGXULQJLWVSURFHVVLQJ7KLVIXQFWLRQPLJKWQRWLI\WKHPDLQ
DSSOLFDWLRQRIWKHVWDWXVRIWKH'//)XQFWIXQFWLRQRUGHWHUPLQHLIWKHXVHUZDQWVWRFDQFHOLWV
RSHUDWLRQ,QVWHSWKH&%IXQFWLRQILQLVKHVSURFHVVLQJDQGLPPHGLDWHO\UHWXUQVFRQWUROWR
WKH'//)XQFWIXQFWLRQ,QVWHSWKH'//)XQFWIXQFWLRQUHWXUQVFRQWUROWRWKH0DLQIXQFWLRQLQ
WKH%$6ILOH
)LJXUH$GLDJUDPRIKRZIXQFWLRQSRLQWHUVZRUNLQ9%ZLWKWKHRUGHURIHYHQWV
$V,PHQWLRQHGLQ&KDSWHUWKHOSIQ:QG3URFPHPEHURIWKHZLQGRZFODVVVWUXFWXUHLVD
IXQFWLRQSRLQWHUWRWKHZLQGRZSURFHGXUH7KHOSIQSUHIL[WHOOVXVWKDWWKLVLVD/RQJSRLQWHUWR
DIXQFWLRQ
7KHUHLVRQHSUREOHPZLWKWKHDSSOLFDWLRQDQG'//LQ)LJXUH7KHDSSOLFDWLRQVWRSV
H[HFXWLQJDVVRRQDVLWFDOOV'//)XQFWIURPWKH%$6ILOH7KHDSSOLFDWLRQLVZDLWLQJIRUWKH
'//)XQFWIXQFWLRQWRUHWXUQ7KHFRGHLQWKHFDOOEDFNIXQFWLRQ&%ZLOOVWLOOH[HFXWHHYHU\WLPH
LWLVFDOOHGEXWIRUDOOSUDFWLFDOSXUSRVHVWKH9%DSSOLFDWLRQLVZDLWLQJIRUWKH'//WRILQLVK
H[HFXWLRQ7RVROYHWKLVSUREOHPDQGPDNHWKHDSSOLFDWLRQWUXO\DV\QFKURQRXVZHQHHGWR
VWDUWDQHZWKUHDGLQWKH'//DQGXVHWKLVWKUHDGWRH[HFXWHWKH'//)XQFWIXQFWLRQFRGH7KH
RQO\FKDQJHWR)LJXUHLVWKHDGGLWLRQRIDQHZIXQFWLRQWKDWLVFDOOHGIURPWKH0DLQ
VXEURXWLQHLQSODFHRIWKH'//)XQFW'//IXQFWLRQ7KLVQHZIXQFWLRQZRXOGFUHDWHDQHZ
WKUHDGUXQWKH'//)XQFWFRGHRQWKLVWKUHDGDQGLPPHGLDWHO\UHWXUQFRQWUROWRWKH0DLQ
VXEURXWLQHLQWKH%$6ILOH:LWKWKHDGGLWLRQRIWKLVQHZIXQFWLRQRXU9%DSSOLFDWLRQFDQ FRQWLQXHUXQQLQJDVLIWKH'//)XQFWSURFHGXUHKDGQHYHUEHHQFDOOHG
$GGUHVV2IDQG6XEFODVVLQJ :LWKVXEFODVVLQJZHZLOOEHXVLQJWKH$GGUHVV2IRSHUDWRUWRJHWDIXQFWLRQSRLQWHUWRRXUQHZ
ZLQGRZSURFHGXUH7KLVQHZZLQGRZSURFHGXUHLVWKHFDOOEDFNIXQFWLRQWKDWWKHZLQGRZ
PHVVDJHORRSFDOOVILUVWDIWHUUHFHLYLQJDPHVVDJH7KHFRGHUHTXLUHGWRLPSOHPHQW $GGUHVV2ILVTXLWHVLPSOH)LUVW\RXFRGHWKHFDOOEDFNIXQFWLRQ 3XEOLF)XQFWLRQ1HZ:QG3URF%\9DOK:QG$V/RQJB
%\9DOX0VJ$V/RQJB
%\9DOO3DUDP$V/RQJ DV/RQJ
%\9DOZ3DUDP$V/RQJB
(QG)XQFWLRQ
7KLVIXQFWLRQZLOOHYHQWXDOO\VHUYHDVRXUQHZVXEFODVVHGZLQGRZSURFHGXUH1H[WZHXVHWKH
$GGUHVV2IRSHUDWRUWRSDVVDSRLQWHUUHIHUULQJWRWKLVIXQFWLRQLQWRWKH:LQ
6HW:LQGRZ/RQJ3WUIXQFWLRQ7KH6HW:LQGRZ/RQJ3WUIXQFWLRQFDOOZLOOORRNOLNHWKLV
PBO2ULJ:QG3URF 6HW:LQGRZ/RQJ3WUK:QG*:/3B:1'352&$GGUHVV2I1HZ:QG3URF
6HW:LQGRZ/RQJ3WULVGHVFULEHGLQGHWDLOLQ&KDSWHU7KLVVLQJOHOLQHRIFRGHHIIHFWLYHO\
VXEFODVVHVWKHZLQGRZWKDWKDVK:QGDVLWVKDQGOH,WDFFRPSOLVKHVWKLVE\UHSODFLQJWKH
IXQFWLRQSRLQWHUWRWKHRULJLQDOZLQGRZSURFHGXUHZLWKDIXQFWLRQSRLQWHUWRRXU1HZ:QG3URF
IXQFWLRQDFTXLUHGE\XVLQJWKH$GGUHVV2IRSHUDWRU7KH6HW:LQGRZ/RQJ3WUIXQFWLRQZLOOWKHQ
UHWXUQWKHSRLQWHUWRWKHRULJLQDOZLQGRZSURFHGXUHWRWKHFDOOLQJIXQFWLRQ
7KLVZLQGRZLVQRZVXEFODVVHG$Q\PHVVDJHVVHQWWRWKLVZLQGRZZLOOEHVHQWWRWKH
1HZ:QG3URFIXQFWLRQ,QVWHDGRIVLPSO\FDOOLQJWKLVIXQFWLRQDFDOOEDFNIXQFWLRQLWLVXVXDOO\
FDOOHGDVXEFODVVHGZLQGRZSURFHGXUH$Q\ZLQGRZSURFHGXUHRUVXEFODVVHGZLQGRZ
SURFHGXUHLVMXVWDFDOOEDFNIXQFWLRQXVHGVSHFLILFDOO\WRSURFHVVZLQGRZPHVVDJHV7KLVLV ZK\WKH\DUHFDOOHGZLQGRZSURFHGXUHVLQVWHDGRIFDOOEDFNIXQFWLRQV
$VZHQRWHGDQ\URXWLQHWKDWLVSDVVHGDIXQFWLRQSRLQWHUPXVWNQRZH[DFWO\KRZWRFDOOWKH
FDOOEDFNIXQFWLRQ7KLVLVQRWWRRKDUGLQWKHFDVHRIVXEFODVVLQJEHFDXVHDOOZLQGRZ
SURFHGXUHVWDNHWKHVDPHQXPEHUDQGW\SHRIDUJXPHQWV,IZHGHYLDWHIURPWKLVRXUFRGH
ZLOOQRWZRUNDQGZLOOHYHQWXDOO\FUDVKWKHSURFHVVWKDWLWLVUXQQLQJLQ,WLVQRWRQO\QHFHVVDU\
WRPDWFKWKHIXQFWLRQSDUDPHWHUVEXWLWLVDOVRZLVHWRXQGHUVWDQGKRZWKHFDOOLQJIXQFWLRQ
DQGWKHFDOOEDFNIXQFWLRQZRUN7KLVNQRZOHGJHZLOOKHOSWRSUHYHQWSDVVLQJEDGGDWDWRD
FDOOEDFNIXQFWLRQZKLFKFRXOGFDXVHSUREOHPVUDQJLQJIURPVLPSOHORJLFHUURUVWRPRUH
WURXEOHVRPH*HQHUDO3URWHFWLRQ)DXOW*3) SUREOHPV7KLVDOVRDOORZVXVWRFRUUHFWO\KDQGOH
GDWDUHWXUQHGIURPDFDOOEDFNIXQFWLRQ
6RPH6XEFODVVLQJ7LSV $VZH YHVHHQVXEFODVVLQJLQYROYHVFUHDWLQJDSDUWLFXODUNLQGRIFDOOEDFNIXQFWLRQRQHWKDWLV
FDOOHGE\DZLQGRZ VHYHQWORRS+HQFHWKHJHQHUDOWLSVWKDWZH YHSUHVHQWHGIRUFDOOEDFN
IXQFWLRQVVXFKDVGHILQLQJWKHFDOOEDFNDVD3XEOLFIXQFWLRQLQD%$6PRGXOHDQGXVLQJ2Q
(UURU5HVXPH1H[WIRUHUURUKDQGOLQJLQWKHFDOOEDFNIXQFWLRQ DSSO\DVZHOOWRVXEFODVVHG
ZLQGRZSURFHGXUHV,QDGGLWLRQWKRXJKWZRWLSVDQGSLWIDOOVWKDWDUHXQLTXHWRVXEFODVVLQJ
DUHZRUWKPHQWLRQLQJ
)LUVWUHPHPEHUWKDWDOOPHVVDJHVIRUDZLQGRZDUHSDVVHGWKURXJKLWVVXEFODVVHGZLQGRZ
SURFHGXUH$VDUHVXOWWKHVXEFODVVHGZLQGRZSURFHGXUHDVZHOODVDKRRN VILOWHUIXQFWLRQ
FDQSRWHQWLDOO\EHFDOOHGKXQGUHGVRUHYHQWKRXVDQGVRIWLPHVSHUVHFRQG,IODUJHDPRXQWVRI
FRGHDUHH[HFXWHGLQWKHZLQGRZSURFHGXUHIRUPDQ\RIWKHPHVVDJHVWKHSHUIRUPDQFHRI
WKHDSSOLFDWLRQZLOOGHJUDGHFRQVLGHUDEO\7KLVPDNHVLWFULWLFDOO\LPSRUWDQWWRDYRLGGRLQJWRR
PXFKZRUNZLWKLQDFDOOEDFNIXQFWLRQ3HUIRUPLQJILOH,2LQHLWKHUW\SHRISURFHGXUHLVRQH
W\SHRIRSHUDWLRQWKDWFRXOGWDNHXSDQXQXVXDOO\ORQJDPRXQWRIWLPHWRILQLVKEHFDXVHRI
UHODWLYHO\VORZGLVNDFFHVV,IVXFKORQJSURFHVVHVDUHLQFOXGHGZLWKLQWKHVHFDOOEDFN IXQFWLRQVWKHUHVXOWVFRXOGEHOHVVWKDQVDWLVIDFWRU\
'RDVOLWWOHZRUNDVSRVVLEOHLQWKHVXEFODVVHGZLQGRZ
SURFHGXUH
6HFRQGQHYHUXVHWKH'R(YHQWVIXQFWLRQLQVLGHWKHZLQGRZSURFHGXUH'R(YHQWVZLOOKDOW
SURFHVVLQJWRDOORZRWKHUTXHXHGPHVVDJHVWREHSURFHVVHG8VLQJWKLVIXQFWLRQLQVLGHD
ZLQGRZSURFHGXUHVWRSVSURFHVVLQJIRUWKDWSDUWLFXODUPHVVDJH7KHSUREOHPRFFXUVZKHQD
QHZPHVVDJHLVVHQWWRWKHZLQGRZSURFHGXUHEHIRUHWKHSUHYLRXVPHVVDJHFDQILQLVK
SURFHVVLQJ7KHILUVWPHVVDJH\LHOGVWRWKHVHFRQGPHVVDJHWKHVHFRQGPHVVDJH\LHOGVWR
WKHWKLUGPHVVDJHDQGVRRQ7KHRXWFRPHRIWKLVLVXQSUHGLFWDEOHEHFDXVHPHVVDJHVPLJKW
EHSURFHVVHGRXWRIRUGHURUQRWEHSURFHVVHGDWDOO
'RQRWXVHWKH'R(YHQWVIXQFWLRQZLWKLQDQ\ZLQGRZ SURFHGXUH
)LQDOO\VWHSSLQJWKURXJKDVXEFODVVLQJDSSOLFDWLRQLQEUHDNPRGHIURPZLWKLQWKH9%,'(LV
SUREOHPDWLF'RLQJVRFDQFDXVHWKHDSSOLFDWLRQDVZHOODVWKH9%,'(WRIUHH]H7KLVPDNHV
LWPXFKPRUHGLIILFXOWWRGHEXJWKHVHW\SHVRIDSSOLFDWLRQV'HEXJJLQJDSSOLFDWLRQVXVLQJ
VXEFODVVLQJLVGLVFXVVHGLQGHSWKLQ&KDSWHU
6WHSSLQJWKURXJKDVXEFODVVLQJDSSOLFDWLRQLQWKH,'(FDQ EHSUREOHPDWLF
,QVWDQFH6XEFODVVLQJ$Q([DPSOH $VZHVDZLQ&KDSWHULQVWDQFHVXEFODVVLQJLQYROYHVXVLQJWKH6HW:LQGRZ/RQJ3WUIXQFWLRQ
WRUHSODFHWKHZLQGRZSURFHGXUHRIDVSHFLILFZLQGRZLQVWDQFH
,QWKLVVHFWLRQZH OOZULWHRXUILUVWVLPSOHVXEFODVVLQJDSSOLFDWLRQ7KHDSSOLFDWLRQZLOOKDYH
WZREXWWRQVRQHWRVXEFODVVWKH9%IRUPDQGDQRWKHUWRUHPRYHWKHVXEFODVV7KHRQO\RWKHU
FRQWUROZLOOEHDPXOWLOLQHWH[WER[WKDWZLOOGLVSOD\PHVVDJHVDVWKH\DUHVHQWWRWKLVIRUP,
ZLOODGGVRPHPRUHIXQFWLRQDOLW\WRWKLVDSSOLFDWLRQLQWKHH[DPSOHIROORZLQJWKLVRQH
/HW VVWDUWZLWKWKHOD\RXWRIWKHIRUP,W VUDWKHUVLPSOHWKHQRQGHIDXOWSURSHUWLHVDUHOLVWHGLQ 7DEOHDQGWKHIRUPLVGLVSOD\HGLQ)LJXUH
7DEOH1RQGHIDXOW3URSHUWLHVRI)RUPDQG&RQWUROVIRU6XEFODVVLQJ([DPSOH 2EMHFW
3URSHUW\1DPH
3URSHUW\9DOXH
IUP&K
&DSWLRQ
&KDSWHU6XEFODVVLQJ([DPSOH
IUP&K
&OLHQW+HLJKW
IUP&K
&OLHQW/HIW
IUP&K
&OLHQW7RS
IUP&K
&OLHQW:LGWK
7H[W
+HLJKW
7H[W
/HIW
7H[W
0XOWL/LQH
C7UXH
7H[W
6FUROO%DUV
C9HUWLFDO
7H[W
7RS
7H[W
:LGWK
FPG8Q6XEFODVV
&DSWLRQ
8Q6XEFODVV
FPG8Q6XEFODVV
+HLJKW
FPG8Q6XEFODVV
/HIW
FPG8Q6XEFODVV
7RS
FPG8Q6XEFODVV
:LGWK
FPG6XEFODVV
&DSWLRQ
6XEFODVV
FPG6XEFODVV
+HLJKW
FPG6XEFODVV
/HIW
FPG6XEFODVV
7RS
FPG6XEFODVV
:LGWK
+HUHLVKRZLWZLOOZRUN7KHWH[WER[LVLQLWLDOO\EODQN:KHQ\RXFOLFNWKH6XEFODVVEXWWRQ
PHVVDJHVWKDWDUHVHQWWRWKHZLQGRZSURFHGXUHIRUWKH9%IRUPZLOOGLVSOD\LQWKHWH[WER[
(DFKOLQHLQWKHWH[WER[LVDVHSDUDWHPHVVDJH,QRXUILUVWFXWDWWKLVSURMHFWPHVVDJHVZLOO
EHGLVSOD\LQJIDVWHUWKDQ\RXFDQUHDGWKHP:HZLOOGLVFXVVWKHQXPEHUDQGIUHTXHQF\RI
PHVVDJHVVHQWWRDZLQGRZODWHULQWKLVFKDSWHU 7RUHPRYHWKHVXEFODVVSURFHGXUHVLPSO\
FOLFNWKH8Q6XEFODVVEXWWRQWKHPHVVDJHVZLOOVWRSGLVSOD\LQJ
)LJXUH7KHILUVWH[DPSOHVXEFODVVLQJDSSOLFDWLRQ
7KHFRGHZLOOLQFOXGHIXQFWLRQDOLW\WRKDQGOHSUREOHPVVXFKDVFOLFNLQJWKH6XEFODVVEXWWRQ
PRUHWKDQRQFHDQGFOLFNLQJWKH8Q6XEFODVVEXWWRQZKHQQRVXEFODVVSURFHGXUHKDVEHHQ
LQVWDOOHG7KHUHLVDOVRDQRWKHUSUREOHPWKDWQHHGVWREHKDQGOHGSUHPDWXUHO\HQGLQJWKH
DSSOLFDWLRQEHIRUHFOLFNLQJWKH8Q6XEFODVVEXWWRQ,QRWKHUZRUGV\RXFDQQRWVWRSDQ
DSSOLFDWLRQFOHDQO\ZLWKRXWILUVWUHPRYLQJDQ\VXEFODVVHGZLQGRZSURFHGXUHWKDWKDVEHHQ
LQVWDOOHG(QGLQJDQDSSOLFDWLRQDQ\RWKHUZD\ZLOOFDXVHD*3)WRRFFXU
7RGHPRQVWUDWHWKLVOHW VDVVXPHWKDWZHIRUJHWWRUHVWRUHWKHRULJLQDOZLQGRZSURFHGXUH
EHIRUHVKXWWLQJGRZQWKHDSSOLFDWLRQ7KHVXEFODVVHGZLQGRZZLOOFRQWLQXHWRFDOORXU
VXEFODVVHGZLQGRZSURFHGXUHHYHQDVWKHDSSOLFDWLRQLVEHLQJGHVWUR\HG:KLOHWKH
DSSOLFDWLRQLVEHLQJGHVWUR\HGWKHFRGHZLWKLQWKH%$6PRGXOHWKDWFRQWDLQVWKHVXEFODVVHG
ZLQGRZSURFHGXUHLVUHPRYHGIURPPHPRU\,IWKHVXEFODVVHGZLQGRZUHFHLYHVDQ\
PHVVDJHVSDVVHGWRLWVXFKDV:0B'(6752<WKHPHVVDJHLQGLFDWLQJWKDWWKHZLQGRZLV
DERXWWREHGHVWUR\HG WKHZLQGRZWULHVWRFDOOWKHVXEFODVVHGZLQGRZSURFHGXUHXVLQJLWV
IXQFWLRQSRLQWHU,IWKHFRGHIRUWKLVVXEFODVVHGZLQGRZSURFHGXUHKDVEHHQUHPRYHGIURP
PHPRU\WKLVIXQFWLRQSRLQWHUZLOOSRLQWWRXQDOORFDWHGPHPRU\DQGFDXVHD*3)
'RQRWHQGDQDSSOLFDWLRQEHIRUHUHPRYLQJDOOVXEFODVVHG
ZLQGRZSURFHGXUHV
,VKRXOGPHQWLRQKHUHWKDWWKH(QGVWDWHPHQWLQ9%ZLOOFUDVK\RXUDSSOLFDWLRQ7KH(QG
VWDWHPHQWIRUFHVWKHDSSOLFDWLRQWRVWRSGHDGLQLWVWUDFNV7KLVPHDQVWKDWDQ\XQORDGHYHQWV
IRUWKH)RUPRU7HUPLQDWHHYHQWVIRUWKHFODVVPRGXOHVZLOOQRWH[HFXWH7KH8QORDGDQG
7HUPLQDWHHYHQWVSURYLGHWKHSHUIHFWSODFHWRFOHDQXSWKHDSSOLFDWLRQDQGSUHSDUHLWWRVKXW
GRZQSURSHUO\7KHVHHYHQWVDUHRXUODVWOLQHVRIGHIHQVH,WLVKHUHWKDW,ZLOOSODFHFRGHWR PDNHDEVROXWHO\VXUHWKDWWKHDSSOLFDWLRQFDQVKXWGRZQZLWKRXWDFUDVK
8VLQJWKH(QGVWDWHPHQWE\SDVVHVWKHVHHYHQWVDQGKDVWKHSRWHQWLDOWRFUHDWHVHULRXV
SUREOHPV&DOOLQJWKH(QGVWDWHPHQWDIWHUFOHDQLQJXS\RXUDSSOLFDWLRQDQGSUHSDULQJLWWR
VKXWGRZQZRXOGEHILQHEXWEHLQJJRRGSURJUDPPHUVZHZRXOGQRWXVHWKH(QGVWDWHPHQW
DQ\ZD\ULJKW"$VDQRWHWKH6WRSEXWWRQLQWKH9%,'(ZLOODFWWKHVDPHDVXVLQJWKH(QG
VWDWHPHQW
'RQRWXVHWKH(QGVWDWHPHQWLQ\RXUFRGHRUWKH6WRS
EXWWRQLQWKH9%,'(
7KLVILUVWH[DPSOHDSSOLFDWLRQZLOOFRQVLVWRIDIRUPVHH)LJXUH D%$6PRGXOHDQGD
FODVVPRGXOH •
7KH%$6PRGXOHDV\RXJXHVVHGKROGVWKHVXEFODVVHGZLQGRZSURFHGXUHWKDWZLOO
EHLQVWDOOHGEHIRUHWKHRULJLQDOZLQGRZSURFHGXUHLQWKHPHVVDJHVWUHDP7KLVIRU QRZLVWKHH[WHQWRIWKHFRGHLQWKH%$6PRGXOH
•
7KHFODVVPRGXOHLVZKHUHWKHFRGHWRLQVWDOODQGXQLQVWDOOWKHVXEFODVVHGZLQGRZ
SURFHGXUHFRQWDLQHGLQWKH%$6PRGXOHUHVLGHV,WZRXOGEHQLFHWRSODFHWKHQHZ VXEFODVVHGZLQGRZSURFHGXUHLQWKHFODVVPRGXOHDVZHOOEXWDVZHNQRZWKH
$GGUHVV2IRSHUDWRUGRHVQRWVXSSRUWWKLV%\SODFLQJFRGHLQWKHFODVVPRGXOHWR
FRQWUROLQVWDOOLQJDQGXQLQVWDOOLQJWKHVXEFODVVHGZLQGRZSURFHGXUHZHDUHDEOHWR HQVXUHWKDWWKHDSSOLFDWLRQZLOOIXQFWLRQSURSHUO\%\FDOOLQJDSXEOLFIXQFWLRQLQWKH
FODVVZHFDQLQVWDOOWKHVXEFODVVHGZLQGRZVSURFHGXUH%XWZKDWLIVRPHWKLQJJRHV
ZURQJDQGHLWKHUZHIRUJHWWRUHPRYHWKHVXEFODVVHGZLQGRZSURFHGXUHRUWKH
DSSOLFDWLRQHQFRXQWHUVDQXQKDQGOHGHUURU",QHLWKHUFDVHWKHFODVVLVGHVWUR\HG
EHIRUHWKHIRUP7KHFRGHWKDWLVSODFHGLQWKH&ODVVB7HUPLQDWHHYHQWZLOODOORZWKH
DSSOLFDWLRQWRUHPRYHWKHVXEFODVVHGZLQGRZSURFHGXUHDQGVKXWGRZQJUDFHIXOO\ $GLVFXVVLRQRIHDFKPRGXOHIROORZV
7KH&ODVV0RGXOH $JRRGVWDUWLQJSRLQWLVWKHFRGHIRUWKHFODVVPRGXOHZKLFKLVQDPHG&6XEFODVV7KH
SULYDWHFRQVWDQWVWKHYDULDEOHVDQGWKH:LQGRZV$3,IXQFWLRQZLOOEHGHFODUHGLQWKH
GHFODUDWLRQVVHFWLRQRIWKHPRGXOHDVIROORZV
3ULYDWH'HFODUH)XQFWLRQ6HW:LQGRZ/RQJ3WU/LEXVHU$OLDV6HW:LQGRZ/RQJ$B
%\9DOKZQG$V/RQJB
%\9DOQ,QGH[$V/RQJB
%\9DOGZ1HZ/RQJ$V/RQJ $V/RQJ
3ULYDWH&RQVW*:/3B:1'352&
3ULYDWHPBO2ULJ:QG3URF$V/RQJ 3ULYDWHPBKZQG$V/RQJ
6HW:LQGRZ/RQJ3WUZLOOEHXVHGWRGRWKHDFWXDOVXEFODVVLQJ7KH*:/3B:1'352&
FRQVWDQWLVXVHGDVDQDUJXPHQWWR6HW:LQGRZ/RQJ3WUDQGLQGLFDWHVWKDWWKHZLQGRZ V
SURFHGXUHLVEHLQJUHSODFHG7KHODVWWZRSULYDWHPHPEHUYDULDEOHVZLOOKROGGDWDSHUWDLQLQJ
WRWKHZLQGRZEHLQJVXEFODVVHG
7ZRYDULDEOHVDOVRDUHGHFODUHGLQWKHFODVVPRGXOH VGHFODUDWLRQVVHFWLRQ7KHYDULDEOH
PBKZQGKROGVWKHZLQGRZKDQGOHRIWKHVXEFODVVHGZLQGRZDQGWKHPBO2ULJ:QG3URF
YDULDEOHKROGVWKHRULJLQDOZLQGRZSURFHGXUHIRUWKDWVDPHZLQGRZ7KH&ODVVB,QLWLDOL]H
HYHQWZKLFKLVVKRZQLQ([DPSOHLVXVHGWRLQLWLDOL]HWKHVHWZRSULYDWHPHPEHUYDULDEOHV WR]HUR
([DPSOH7KH&ODVVB,QLWLDOL]H(YHQW3URFHGXUH 3ULYDWH6XE&ODVVB,QLWLDOL]H
PBO2ULJ&ODVV3URF PBKZQG
(QG6XE
7ZRSXEOLFSURSHUWLHVDUHQHHGHGIRUWKHWZRSULYDWHPHPEHUYDULDEOHVPBKZQGDQG
PBO2ULJ:QG3URFWKHVHDUHVKRZQLQ([DPSOH ([DPSOH3URSHUWLHVRIWKH&6XE&ODVV&ODVV
3XEOLF3URSHUW\*HW2ULJ:QG3URF $V/RQJ 2ULJ:QG3URF PBO2ULJ:QG3URF (QG3URSHUW\
3XEOLF3URSHUW\/HWKZQG+DQGOH$V/RQJ
PBKZQG +DQGOH
(QG3URSHUW\
7KHDGGUHVVRIWKHRULJLQDOZLQGRZSURFHGXUHFRQWDLQHGLQWKHPHPEHUYDULDEOH
PBO2ULJ:QG3URFQHHGVWREHDYDLODEOHWRWKHVXEFODVVHGZLQGRZSURFHGXUHLQWKH%$6ILOH
7KHILUVWSURSHUW\WKDWZHH[SRVHLQWKLVFODVV2ULJ:QG3URFZLOOWDNHFDUHRIWKLV
UHTXLUHPHQW7KHVHFRQGSURSHUW\LVXVHGRQO\E\DQH[WHUQDOIXQFWLRQWRVHWWKHPBKZQG
PHPEHUYDULDEOH7KHFODVVQHHGVWRNQRZWKHZLQGRZPBKZQG LQZKLFKWRLQVWDOODQG
UHPRYHWKHVXEFODVVHGZLQGRZSURFHGXUH
1RZWKDWZHKDYHWKHFODVVGDWDZUDSSHGXSZHFDQJHWWRWKHPHDWRIWKHFODVVFRGH7KH
SXEOLFIXQFWLRQWKDWZLOODFWXDOO\SHUIRUPWKHVXEFODVVLQJLVVKRZQLQ([DPSOH ([DPSOH7KH(QDEOH6XEFODVV)XQFWLRQ 3XEOLF)XQFWLRQ(QDEOH6XEFODVV $V%RROHDQ
,IPBO2ULJ:QG3URF!7KHQ $OUHDG\VXEFODVVHG
'RQRWDOORZWRVXEFODVVDQGWLPH
0VJ%R[(UURU$OUHDG\VXEFODVVHG (OVH
PBO2ULJ:QG3URF 6HW:LQGRZ/RQJ3WUPBKZQGB
0RGXOH1HZ:QG3URF
*:/3B:1'352&B $GGUHVV2I
(QG,I
,IPBO2ULJ:QG3URF!7KHQ (QDEOH6XEFODVV 7UXH
(OVH
(QDEOH6XEFODVV )DOVH
(QG,I
(QG)XQFWLRQ
:KHQWKLVIXQFWLRQLVFDOOHGZHZDQWWRFKHFNWKHPBO2ULJ:QG3URFPHPEHUYDULDEOHWRILQG
RXWLILWFRQWDLQVDQXPEHURWKHUWKDQ]HUR,ILWGRHVZHNQRZWKDWWKLVZLQGRZKDVEHHQ
VXEFODVVHGDQGVKRXOGQRWEHVXEFODVVHGDVHFRQGWLPH,IWKHZLQGRZZHUHWREH
VXEFODVVHGPRUHWKDQRQFHXVLQJWKHFRGHLQWKLVH[DPSOHZHZRXOGORVHWKHIXQFWLRQ
SRLQWHUWRRXURULJLQDOZLQGRZSURFHGXUH:LWKRXWWKLVSRLQWHUWRWKHRULJLQDOZLQGRZ
SURFHGXUHWKHDSSOLFDWLRQZLOOFUDVKZKHQLWLVVKXWGRZQ/HWPHH[SODLQZK\LQDOLWWOHPRUH
GHWDLO
/RRNLQJDW)LJXUHZHVHHZK\VXEFODVVLQJDZLQGRZPRUHWKDQRQFHZLOOOHDGWRDFUDVK 7KHPBO2ULJ:QG3URFPHPEHUYDULDEOHLVILUVWLQLWLDOL]HGWR]HURWRLQGLFDWHWKDWQR
VXEFODVVLQJKDVRFFXUUHG:KHQWKHZLQGRZLVVXEFODVVHGXVLQJ6HW:LQGRZ/RQJ3WUWKH
SRLQWHUWRWKHRULJLQDOZLQGRZSURFHGXUHLVVWRUHGLQWKLVYDULDEOH5HPRYLQJWKHVXEFODVVDW
WKLVSRLQWZLOOEHVXFFHVVIXO,ILQVWHDGWKHZLQGRZLVVXEFODVVHGDVHFRQGWLPHDQGWKHQZH
WU\WRUHPRYHWKHVXEFODVVLQJWKHDSSOLFDWLRQZLOOFUDVKDQGZHZLOOJHWDPHVVDJHVLPLODUWR
WKLV
352-B&+FDXVHGDVWDFNIDXOWLQPRGXOH069%90'//DWH
$VWDFNIDXOWRFFXUVZKHQPHPRU\LVDFFHVVHGEH\RQGWKHOLPLWVRIWKHVWDFN7KHVWDFNLVD
OLQNHGOLVWXVHGE\IXQFWLRQFDOOVWRVWRUHLQIRUPDWLRQWKDWJRHVRXWRIVFRSH(YHU\WKUHDGKDV
LWVRZQVWDFNVSDFH7KHVWDFNVSDFHIRUDQ\RQHWKUHDGFDQEHXSWR0%LQVL]H
,QIRUPDWLRQFDQRQO\EHLQVHUWHGSXVKHG RQWRWKHWRSRIWKHVWDFNRUUHWULHYHGSRSSHG IURP
WKHWRSRIWKHVWDFN7KLVLVD)LUVW,Q/DVW2XW),/2 W\SHRIVWUXFWXUH9%XVHVWKHVWDFN
PDLQO\WRVWRUHIXQFWLRQDUJXPHQWVDQGORFDOYDULDEOHVGHFODUHGLQIXQFWLRQV
,QIRUPDWLRQVXFKDVJOREDODQGVWDWLFYDULDEOHVLVVWRUHGLQWKHDSSOLFDWLRQ VGHIDXOWKHDS$
KHDSLVDEORFNRIPHPRU\VHWDVLGHE\WKHDSSOLFDWLRQWRVWRUHLQIRUPDWLRQ+HDSPHPRU\LV
DFFHVVLEOHWKURXJKRXWWKHHQWLUHDSSOLFDWLRQDQGWKHUHIRUHSURYLGHVDQH[FHOOHQWDUHDWRVWRUH
JOREDODQGVWDWLFYDULDEOHV9DULDEOHVRIWKLVW\SHQHYHUJRRXWRIVFRSHDQGWKXVUHTXLUHQR
VWDFNVSDFH
9DULDEOHVORFDOWRDIXQFWLRQJRRXWRIVFRSHZKHQFDOOLQJDQRWKHUIXQFWLRQ7KLVLVQHFHVVDU\
WRSUHYHQWYDULDEOHVORFDOWRRQHIXQFWLRQIURPEHLQJPRGLILHGIURPZLWKLQDQRWKHUIXQFWLRQ
7KHVWDFNSURYLGHVDZD\WRVDYHWKHFDOOLQJIXQFWLRQ VORFDOYDULDEOHVZKLOHWKHFDOOHG
IXQFWLRQLVH[HFXWLQJ8SRQUHWXUQLQJIURPWKHFDOOHGIXQFWLRQWKHFDOOLQJIXQFWLRQ VORFDO
YDULDEOHVDUHUHVWRUHGSURSHUO\
)XQFWLRQDUJXPHQWVDOVRDUHSXVKHGRQWRWKHVWDFN$UJXPHQWVGHFODUHGDV%\9DOKDYHWKHLU
DFWXDOGDWDSODFHGRQWKHVWDFN$UJXPHQWVGHFODUHGDV%\5HIKDYHSRLQWHUVWRWKHGDWD
SODFHGRQWKHVWDFN)RU%\5HIDUJXPHQWVWKHFDOOHGIXQFWLRQREWDLQVDSRLQWHUWRWKHDFWXDO
GDWDDQGFDQVXEVHTXHQWO\PRGLI\WKHDFWXDOGDWD%\9DODUJXPHQWVRQO\SDVVDFRS\RIWKH
GDWDWRDIXQFWLRQ7KHFRS\FDQEHPRGLILHGZLWKRXWDOVRFKDQJLQJWKHYDOXHZLWKLQWKHFDOOLQJ
IXQFWLRQ
7RGHPRQVWUDWHWKLVDIXQFWLRQIRRLVFDOOHGLQ9%IURPWKHIXQFWLRQ&DOOBIRR 3ULYDWH)XQFWLRQ&DOOBIRRVWU;DVVWULQJOQJ<DV/RQJ DVORQJ
'LPLQW=DV,QWHJHU
LQW=
OQJ<
VWU; 18//
'HEXJ3ULQW%HIRUH&DOO
5HW9DO IRRVWU;OQJ<
'HEXJ3ULQW$IWHU&DOO
(QG)XQFWLRQ
7KHDUJXPHQWVWRWKHIXQFWLRQIRRDUHSODFHGDWWKHWRSRIWKHVWDFN)RUWKLVIXQFWLRQERWK
VWU;DQGOQJ<DUHSODFHGRQWKHVWDFN7KRXJKLWLVQRWSDVVHGWRWKHIRRIXQFWLRQWKHLQWHJHU
LQW=DOVRLVSODFHGRQWKHVWDFNEHFDXVHLWLVORFDOLQVFRSHWRWKH&DOOBIRRIXQFWLRQ7KHVWDFN
ZRXOGORRNVRPHWKLQJOLNHWKLV 7RSRI6WDFN!LQW=
OQJ< SRLQWHUWRWKHYDOXHRIOQJ<
VWU; 18//
1H[WWKHIXQFWLRQIRRLVFDOOHGDQGWKHV\VWHPVWDUWVH[HFXWLQJFRGHLQWKLVIXQFWLRQ
5HPHPEHUWKDWWKHYDULDEOHVORFDOWRWKHIXQFWLRQ&DOOBIRRDUHQRZRXWRIVFRSH7KHIRR
IXQFWLRQLVDVIROORZV
3ULYDWH)XQFWLRQIRR%\9DOLQBVWU;DVVWULQJ%\5HILQBOQJ<DV/RQJ DVORQJ
6WU; 7H[W
/QJ<
(QG)XQFWLRQ
:KHQ(QG)XQFWLRQLVHQFRXQWHUHGH[HFXWLRQLVUHWXUQHGWRWKH&DOOBIRRIXQFWLRQ7KH
LQIRUPDWLRQRQWKHVWDFNLVUHPRYHGDQGWKH&DOOBIRRORFDOYDULDEOHVDUHUHVWRUHG,QWKLVFDVH • • •
LQW=ZLOOVWLOOHTXDOEHFDXVHWKLVORFDOYDULDEOHZDVRQO\VWRUHGRQWKHVWDFN
OQJ<ZLOOHTXDOEHFDXVHWKHSRLQWHUZDVSDVVHGLQWRWKHIXQFWLRQIRR
VWU;ZLOOHTXDO18//EHFDXVHRQO\DFRS\RIWKLVYDULDEOHZDVPRGLILHGLQWKHIXQFWLRQ
IRR
1RZWKDWZHXQGHUVWDQGKRZWKHVWDFNZRUNVZHFDQEHWWHUXQGHUVWDQGWKHVWDFNIDXOW
SUREOHP:KHQDIXQFWLRQLVFDOOHGYDULRXVGDWDUHODWHGWRWKDWIXQFWLRQLVSODFHGRQWKH
VWDFN:KHQDIXQFWLRQUHWXUQVWKHGDWDSODFHGRQWKHVWDFNLVUHPRYHGDQGWKHPHPRU\LV
IUHHGVRWKDWLWFDQEHXVHGDJDLQ,IWKDWIXQFWLRQQHYHUUHWXUQVWKHLQIRUPDWLRQRQWKHVWDFN
ZLOOUHPDLQDQGWKHPHPRU\ZLOOQRWEHIUHHG
7KHSUREOHPZLWKORVLQJDIXQFWLRQSRLQWHUWRDZLQGRZSURFHGXUHLVLOOXVWUDWHGLQ)LJXUHD VWHSE\VWHSH[DPSOHWKDWVKRZVWKHYDOXHVRIWKHRULJLQDOZLQGRZSURFHGXUH
PBO2ULJ:QG3URF DQGWKHSRLQWHUWRWKHFRUUHFWZLQGRZSURFHGXUHOSIQ:QG3URF 7KH
DGGUHVV +)%SRLQWVWRWKHRULJLQDOZLQGRZSURFHGXUH +%%SRLQWVWRWKH
ILUVWVXEFODVVHGZLQGRZSURFHGXUHDQG +)SRLQWVWRWKHVHFRQGVXEFODVVHG
ZLQGRZSURFHGXUH,I\RXQRWLFHZKHQRXUVHFRQGVXEFODVVHGZLQGRZSURFHGXUHLVFDOOHGLW
WKLQNVWKDWWKHILUVWVXEFODVVHGZLQGRZSURFHGXUHLVWKHRULJLQDOZLQGRZSURFHGXUHVHH6WHS
LQ)LJXUH &DOO:LQGRZ3URFZLOOXVHWKHSRLQWHUVWRUHGLQWKHYDULDEOHPBO2ULJ:QG3URF
WRFDOOWKHILUVWVXEFODVVHGZLQGRZ$FWXDOO\WKLVZRXOGEHILQHH[FHSWIRUWKHIDFWWKDWZHGR
QRWKDYHWKHIXQFWLRQSRLQWHUWRWKHRULJLQDOZLQGRZSURFHGXUH7KLVIXQFWLRQSRLQWHUZDVORVW
ZKHQZHVXEFODVVHGWKLVZLQGRZDVHFRQGWLPH8QIRUWXQDWHO\WKHFRGHQRZWKLQNVWKDWWKH
ILUVWVXEFODVVHGZLQGRZSURFHGXUHLVWKHRULJLQDOZLQGRZSURFHGXUH:KHQ&DOO:LQGRZ3URF
LVH[HFXWHGLQWKHILUVWZLQGRZSURFHGXUHLWFDOOVLWVHOIEHFDXVHWKHIXQFWLRQSRLQWHULQWKH
YDULDEOHPBO2ULJ:QG3URFLVSRLQWLQJWRLWVHOI7KLVVHWVXSDUHDOO\QDVW\UHFXUVLYHIXQFWLRQ
FDOOLQZKLFKWKHILUVWVXEFODVVHGZLQGRZSURFHGXUHNHHSVFDOOLQJLWVHOIDQGQHYHUUHWXUQV
7KLVZLOOFRQWLQXHWRKDSSHQXQWLOWKHVWDFNILOOVXSDQGWKHQWULHVWRZULWHSDVWLWVERXQGDU\
FDXVLQJDVWDFNIDXOW
1HYHUORVHWKHIXQFWLRQSRLQWHUWRWKHRULJLQDOZLQGRZ
SURFHGXUHIRUWKHVXEFODVVHGZLQGRZ
7RFRUUHFWWKLVSUREOHPWKHDGGUHVVRIHDFKZLQGRZSURFHGXUHLQFOXGLQJWKHRULJLQDORQH
KDVWREHVDYHG7KHVHYDOXHVFRXOGSRVVLEO\EHVWRUHGLQDQDUUD\:KHQWKHVHFRQG
VXEFODVVHGZLQGRZSURFHGXUHFDOOVWKH&DOO:LQGRZ3URFIXQFWLRQWKLVDUUD\ZRXOGEHXVHWR
ORRNXSWKHQH[WVXEFODVVHGZLQGRZSURFHGXUHWRFDOO,QWKLVFDVHLWZRXOGEHWKHILUVW
ZLQGRZSURFHGXUH$IWHUWKHILUVWZLQGRZSURFHGXUHLVILQLVKHGWKHRULJLQDOZLQGRZSURFHGXUH
ZRXOGEHFDOOHG7KHRULJLQDOZLQGRZSURFHGXUHVKRXOGEHVWRUHGLQWKLVDUUD\DVZHOO
7KHUHDUHWZRWKLQJVWRNHHSLQPLQGZLWKVXEFODVVLQJDZLQGRZPXOWLSOHWLPHV)LUVWWKH
ZLQGRZSURFHGXUHVVKRXOGEHFDOOHGLQWKHUHYHUVHRUGHULQZKLFKWKH\ZHUHLQVWDOOHG)RU
H[DPSOHWKHODVWLQVWDOOHGVXEFODVVHGZLQGRZSURFHGXUHVKRXOGEHFDOOHGILUVWWKHVHFRQG
LQVWDOOHGZLQGRZSURFHGXUHVKRXOGEHFDOOHGQH[WDQGVRRQ6HFRQGZKHQUHPRYLQJWKH
VXEFODVVHGZLQGRZSURFHGXUHVWKH\PXVWEHUHPRYHGLQWKHUHYHUVHRUGHUIURPZKLFKWKH\
ZHUHLQVWDOOHG$GKHULQJWRWKHVHUXOHVZLOOHQVXUHWKDWSUREOHPVUHVXOWLQJIURPWKHLQWHUDFWLRQ
EHWZHHQVXEFODVVHGZLQGRZSURFHGXUHVDUHDWDPLQLPXP
)LJXUH/RVLQJWKHIXQFWLRQSRLQWHUWRDZLQGRZSURFHGXUH
*HWWLQJEDFNWRRXU(QDEOH6XEFODVVPHWKRGLIQRVXEFODVVLQJKDVRFFXUUHG
6HW:LQGRZ/RQJ3WULVFDOOHGWRSODFHRXUQHZVXEFODVVHGZLQGRZSURFHGXUHLQWRWKHPHVVDJH
VWUHDPMXVWEHIRUHWKHRULJLQDOZLQGRZSURFHGXUH7KLVIXQFWLRQZLOOUHWXUQDVXFFHVVRUHUURU
VWDWXVWRWKHFDOOLQJIXQFWLRQ
7KHQH[WIXQFWLRQLQWKLVFODVVLVWKH'LVDEOH6XEFODVVPHWKRGZKLFKLVVKRZQLQ([DPSOH
7KLVIXQFWLRQUHPRYHVWKHLQVWDOOHGVXEFODVVHGZLQGRZSURFHGXUHDQGUHWXUQVDVXFFHVVRU
HUURUVWDWXV2QFHDJDLQWKHPBO2ULJ:QG3URFPHPEHUYDULDEOHLVFKHFNHGWRVHHLILQIDFWD
VXEFODVVHGZLQGRZSURFHGXUHKDVEHHQLQVWDOOHG$YDOXHRI]HURPHDQVWKDWQRQHKDVEHHQ
LQVWDOOHG,IWKHYDOXHLVQRQ]HUR6HW:LQGRZ/RQJ3WULVFDOOHGWKLVWLPHZLWKWKH
PBO2ULJ:QG3URFYDULDEOHSDVVHGLQWKHODVWDUJXPHQWWRWKHIXQFWLRQ7KHVXEFODVVHG
ZLQGRZSURFHGXUHLVUHPRYHGIURPWKHPHVVDJHVWUHDP7KLVZLOOKDYHWKHHIIHFWRIUHVHWWLQJ
WKHZLQGRZWRWKHZD\LWRSHUDWHGEHIRUHWKHVXEFODVVLQJZDVSHUIRUPHG ([DPSOH7KH'LVDEOH6XEFODVV0HWKRG 3XEOLF)XQFWLRQ'LVDEOH6XEFODVV $V%RROHDQ
,IPBO2ULJ:QG3URF 7KHQ
'RQRWUHPRYHVXEFODVVQRQHH[LVW 'LVDEOH6XEFODVV )DOVH (OVH
6HWZLQGRZORQJ3WUPBKZQG*:/3B:1'352&PBO2ULJ:QG3URF
PBO2ULJ:QG3URF
'LVDEOH6XEFODVV 7UXH
(QG,I
(QG)XQFWLRQ
7KHUHLVRQHODVWELWRIFRGHWRORRNDWLQWKH&ODVVB7HUPLQDWHHYHQW
3ULYDWH6XE&ODVVB7HUPLQDWH &DOO'LVDEOH6XEFODVV (QG6XE
7KLVFRGHVLPSO\FDOOVWKH'LVDEOH6XEFODVVPHWKRGWRPDNHVXUHWKDWWKHVXEFODVVLQJLV
SURSHUO\UHPRYHG7KLVHYHQWLVILUHGEHIRUHWKHVXEFODVVHGZLQGRZILQLVKHVVKXWWLQJGRZQ 1RWHWKDWEHFDXVH'LVDEOH6XEFODVVWHVWVWKHYDOXHRIPBO2ULJ:QG3URFWRPDNHVXUHWKDW
VXEFODVVLQJLVLQHIIHFWZHGRQRWQHHGWREHFRQFHUQHGWKDWWKHFODVV7HUPLQDWHHYHQWZLOO UHPRYHVXEFODVVLQJZKHQQRQHLVLQHIIHFW
7KH%$60RGXOH 7KH%$6PRGXOHGHILQHVVHYHUDO$3,IXQFWLRQVDQGFRQVWDQWVWKDWZLOOEHXVHGWKURXJKRXWWKH
SURMHFW7KH\DUHDVIROORZV
3XEOLF'HFODUH)XQFWLRQ&DOO:LQGRZ3URF/LEXVHU$OLDV&DOO:LQGRZ3URF$B
/RQJ
%\9DOOS3UHY:QG)XQF$V/RQJ%\9DOKZQG$V/RQJB
%\9DO0VJ$V/RQJ%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V
3XEOLF'HFODUH6XE&RS\0HPRU\/LENHUQHO$OLDV5WO0RYH0HPRU\B
'HVWLQDWLRQ$V$Q\6RXUFH$V$Q\%\9DO/HQJWK$V/RQJ
3XEOLF'HFODUH)XQFWLRQ'HI:LQGRZ3URF/LEXVHU$OLDV'HI:LQGRZ3URF$B
%\9DOKZQG$V/RQJ%\9DOZ0VJ$V/RQJ%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
3XEOLF&RQVW:0B&7/&2/25(',7 +
3XEOLF&RQVW:0B6(7&85625 + 3XEOLF&RQVW:0B1&+,77(67 +
3XEOLF&RQVW:0B0286(029( +
3XEOLF&RQVW:0B1&/%87721'2:1 +$
3XEOLF&RQVW:06=B%27720
3XEOLF&RQVW:0B6,=,1* + 3XEOLF&RQVW+70,1%87721
3XEOLF&RQVW:0B6<6&200$1' +
3XEOLF&RQVW6&B0,1,0,=( +)
3XEOLF7\SH32,17$3,
[$V/RQJ \$V/RQJ (QG7\SH
3XEOLF7\SH0,10$;,1)2
SW5HVHUYHG$V32,17$3,
SW0D[6L]H$V32,17$3,
SW0D[3RVLWLRQ$V32,17$3,
SW0LQ7UDFN6L]H$V32,17$3,
SW0D[7UDFN6L]H$V32,17$3,
(QG7\SH
7KH%$6PRGXOHFRQWDLQVRQO\WZRLWHPVRILQWHUHVWWKHSXEOLFGHFODUDWLRQRIWKHFODVV
PRGXOHYDULDEOHDQGWKHVXEFODVVHGZLQGRZSURFHGXUH7KHFRGHIRUWKHILUVWLWHPLV
'LP&6XE&OV$SS$V&6XEFODVV
7KHREMHFWYDULDEOHQHHGVWREHGHFODUHGDVDJOREDOYDULDEOHLQWKH%$6PRGXOH,WLVWKHQ
LQVWDQWLDWHGLQWKH)RUPB/RDGHYHQWDVIROORZV
6HW&6XE&OV$SS 1HZ&6XEFODVV
,I\RXGHFODUHWKHYDULDEOHLQWKHIRUPPRGXOHWKHDSSOLFDWLRQZRUNVILQHXQWLOLWLVVWRSSHG
ZLWKRXWILUVWFOLFNLQJWKH8Q6XEFODVVEXWWRQ7KHSUREOHPLVWKDWWKHIRUPPRGXOHLV
GHVWUR\HGEHIRUHWKH%$6PRGXOHFRQWDLQLQJWKHVXEFODVVHGZLQGRZSURFHGXUHLVGHVWUR\HG
7KHVXEFODVVHGZLQGRZSURFHGXUHKDVDUHIHUHQFHWRWKHIRUPPRGXOH VWH[WER[:HDOO
NQRZWKDWZKHQ\RXDFFHVVDFRQWURORQDIRUPWKDWLVQRWORDGHG:LQGRZVDXWRPDWLFDOO\
ORDGVWKHIRUP7KLVLQWXUQFUHDWHVDQHZ&6XE&OV$SSREMHFW7KHILUVW&6XE&OV$SSREMHFW
LVGHVWUR\HGDORQJZLWKLWVPBO2ULJ:QG3URFYDULDEOH:KHQWKHDSSOLFDWLRQWULHVWRILQLVK
VKXWWLQJGRZQWKHRULJLQDOZLQGRZSURFHGXUHLVQRWUHVWRUHG$WWKLVSRLQWWKHZLQGRZLVVWLOO
VHQGLQJPHVVDJHVWRWKHVXEFODVVHGZLQGRZSURFHGXUHLQWKH%$6PRGXOH7KH%$6PRGXOH
LVWKHQUHPRYHGIURPPHPRU\ZKLFKLQYDOLGDWHVWKHIXQFWLRQSRLQWHUWRWKHVXEFODVVHG
ZLQGRZSURFHGXUH1RZWKLVIXQFWLRQSRLQWHULVSRLQWLQJWRJDUEDJH:KHQDPHVVDJHLVVHQW
WRWKLVZLQGRZWKHDSSOLFDWLRQWULHVWRFDOOWKHVXEFODVVHGZLQGRZSURFHGXUHIXQFWLRQXVLQJ
WKLVLQYDOLGSRLQWHUDQGWKHDSSOLFDWLRQFUDVKHV
7KHVXEFODVVHGZLQGRZSURFHGXUHLQWKH%$6PRGXOHLVWKHKHDUWRIWKHVXEFODVVLQJ
RSHUDWLRQ7KLVLVZKHUHZHFDQGRDOORXUPDJLF%DVLFDOO\WKLVVXEFODVVHGZLQGRZ
SURFHGXUHGLVSOD\VDOOPHVVDJHVVHQWWRWKHZLQGRZE\ZULWLQJWKHVXEFODVVHGZLQGRZ
SURFHGXUH VSDUDPHWHUVWRWKHWH[WER[RQWKHIRUP7KHIROORZLQJOLQHRIFRGHGRHVWKLV
IUP&KW[W0HVVDJHV7H[W IUP&KW[W0HVVDJHV7H[W B
K:QG KZQG B
X0VJ +H[X0VJ B
OSDUDP O3DUDP YE1HZ/LQH
Z3DUDP Z3DUDP B
,IWKLVLVWKHRQO\OLQHRIFRGHLQWKHVXEFODVVHGZLQGRZSURFHGXUHH[FOXGLQJWKHFDOOWRWKH
&DOO:LQGRZ3URF$3,IXQFWLRQ HYHU\PHVVDJHVHQWWRWKLVZLQGRZZLOOGLVSOD\LQWKHWH[WER[
7KHQXPEHURIPHVVDJHVDQGWKHVSHHGDWZKLFKWKH\DUHGLVSOD\HGDUHRYHUZKHOPLQJ7R PDNHWKLQJVPRUHUHDGDEOHOHW VSUHYHQWVRPHRIWKHPRUHIUHTXHQWPHVVDJHVIURP
GLVSOD\LQJVRWKDWZHFDQEHWWHUVHHZKDWLVJRLQJRQE\PRGLI\LQJRXUFRGHDVIROORZV
,IX0VJ :0B&7/&2/25(',72UB
X0VJ :0B6(7&856252UB X0VJ :0B1&+,77(672UB
X0VJ :0B0286(029(7KHQ 6NLSGLVSOD\LQJWKHVHPHVVDJHV (OVH
IUP&KW[W0HVVDJHV7H[W IUP&KW[W0HVVDJHV7H[W B
K:QG KZQG B
X0VJ +H[X0VJ B
OSDUDP O3DUDP YE1HZ/LQH
(QG,I
Z3DUDP Z3DUDP B
$GGLQJWKLV,I7KHQ(OVHVWDWHPHQWWRILOWHURXWWKHPRUHIUHTXHQWPHVVDJHVPDNHVWKH
UHPDLQLQJPHVVDJHVHDVLHUWRUHDG
7KHILQDOVXEFODVVHGZLQGRZSURFHGXUHLVVKRZQLQ([DPSOH ([DPSOH1HZ:QG3URFWKH6XEFODVVHG:LQGRZ3URFHGXUH 3XEOLF)XQFWLRQ1HZ:QG3URF%\9DOKZQG$V/RQJ%\9DOX0VJ$V/RQJB
/RQJ
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V
,IX0VJ :0B&7/&2/25(',72UB
X0VJ :0B6(7&856252UB
X0VJ :0B1&+,77(672UB
X0VJ :0B0286(029(7KHQ
(OVH
6NLSGLVSOD\LQJWKHVHPHVVDJHV
IUP&KW[W0HVVDJHV7H[W IUP&KW[W0HVVDJHV7H[W B
K:QG KZQG B
X0VJ +H[X0VJ B
Z3DUDP Z3DUDP B
OSDUDP O3DUDP YE1HZ/LQH
(QG,I
3DVVPHVVDJHWRWKHGHIDXOWZLQGRZSURFHGXUH
1HZ:QG3URF &DOO:LQGRZ3URF&6XE&OV$SS2ULJ:QG3URFKZQGX0VJZ3DUDP
O3DUDP
(QG)XQFWLRQ
:KHQ\RXUXQWKHILQLVKHGDSSOLFDWLRQLI\RXUHPRYHWKH,I(OVH(QG,IFRQVWUXFWVRWKDWDOO
PHVVDJHVDUHOLVWHGLQWKHWH[WER[\RX OOGLVFRYHUWKDWIDUWRRPDQ\PHVVDJHVDUHJHQHUDWHG
IRU\RXWRPHDQLQJIXOO\UHDGDQGDQDO\]H7RXQGHUVWDQGZK\WKHVHPHVVDJHVDUHEHLQJVHQW
VRIUHTXHQWO\OHW VH[DPLQHWKHSXUSRVHRIHDFKPHVVDJHWKDWZHDUHGHOLEHUDWHO\LJQRULQJ
(YHU\WLPHDQHZOLQHRILQIRUPDWLRQLVZULWWHQWRWKHWH[WER[DQGGLVSOD\HGWKHWH[WER[PXVW
UHSDLQWLWVHOI7KH:0B&7/&2/25(',7PHVVDJHLVVHQWE\WKHPXOWLOLQHWH[WER[WRLWV
SDUHQWZLQGRZWKHRQHZKLFKZHDUHVXEFODVVLQJ HYHU\WLPHWKHWH[WER[ZDQWVWRUHSDLQW
LWVHOI7KHSDUHQWVXEFODVVHG ZLQGRZXVHVWKLVLQIRUPDWLRQWRGLUHFWWKHUHSDLQWLQJRIWKHWH[W
ER[FRQWURO
7KH:0B6(7&85625PHVVDJHLVVHQWWRWKHZLQGRZGLUHFWO\XQGHUWKHPRXVHFXUVRU
ZKHQHYHUWKHPRXVHLVPRYHGRYHUWKDWZLQGRZ
:0B6(7&85625PHVVDJHVWKHZLQGRZUHFHLYHVMXVWE\UHPRYLQJWKHFKHFNIRUWKLV
PHVVDJHDQGWKHQPRYLQJWKHPRXVHEDFNDQGIRUWKRYHUWKHVXEFODVVHGZLQGRZ
7KH:0B1&+,77(67PHVVDJHLVVLPLODUWRWKH:0B6(7&85625PHVVDJHEHFDXVHLWLV VHQWWRWKHZLQGRZZKHQHYHUWKHPRXVHLVPRYHG7KH:0B1&+,77(67PHVVDJHDOVRLV VHQWWRWKHZLQGRZZKHQHYHUDQ\PRXVHEXWWRQHYHQWDPRXVHEXWWRQGRZQPHVVDJHD
PRXVHEXWWRQXSPHVVDJHDQGRWKHUV RFFXUVDVZHOO7KLVPHVVDJHLVVHQWWRWKHZLQGRZ
EHIRUHWKHDFWXDOPRXVHPHVVDJHVHJ:0B/%87721'2:1:0B/%8772183
:0B0286(029(HWF 7KH:0B1&+,77(67PHVVDJHGHWHUPLQHVZKHUHWKHPRXVH
HYHQWRFFXUUHGRQWKHZLQGRZ7KLVLQIRUPDWLRQDLGVWKHV\VWHPLQGHWHUPLQLQJKRZWR
SURFHVVWKHVXEVHTXHQWPRXVHPHVVDJH)RUH[DPSOH:0B1&+,77(67FDQGHWHUPLQHLI
WKHPRXVHHYHQWRFFXUUHGLQWKHFOLHQWRUQRQFOLHQWDUHDRIDZLQGRZ,IWKHOHIWPRXVHEXWWRQ
ZDVSUHVVHGLQDQRQFOLHQWSRUWLRQRIDZLQGRZWKH:0B1&/%87721'2:1PHVVDJH
ZRXOGEHVHQW,IWKHVDPHPRXVHHYHQWRFFXUUHGLQWKHFOLHQWDUHDRIDZLQGRZWKH
:0B/%87721'2:1PHVVDJHZRXOGEHVHQW
7KHILQDOPHVVDJHWKDWZLOOQRWEHGLVSOD\HGLVWKH:0B0286(029(PHVVDJH$WILUVW
JODQFHLWPLJKWVHHPWKDWWKLVPHVVDJHLVWKHVDPHDVWKH:0B6(7&85625PHVVDJH%RWK
DUHVHQWIRUPRXVHPRYHHYHQWV7KHGLIIHUHQFHLVLQHDFKPHVVDJH VSDUDPHWHUV7KH
:0B0286(029(PHVVDJHKDVSDUDPHWHUVWRGHWHUPLQHLIDPRXVHEXWWRQLVGHSUHVVHG
7KLVPHVVDJHFDQEHXVHIXOZKHQVXEFODVVLQJDZLQGRZWRPRGLI\LWVGUDJDQGGURS
RSHUDWLRQV
WH[WER[7KLVZLOOJLYH\RXDQLQGLFDWLRQRIWKHQXPEHURIPHVVDJHVDZLQGRZZLOOUHFHLYH
HYHU\VHFRQGRILWVH[LVWHQFH
7KH)RUP0RGXOH
7KHFRGHIRUWKHIRUPPRGXOHZKLFKLVVKRZQLQ([DPSOHLVYHU\VLPSOH:KHQWKHIRUP
ORDGVLWFUHDWHVDQREMHFWLQVWDQFHRIWKH&6XEFODVVFODVVDQGVHWVLWVK:QGSURSHUW\:KHQ
WKH6XEFODVVEXWWRQLVFOLFNHGWKHVXEFODVVLQJREMHFW&6XE&OV$SS ZLOOVXEFODVVWKHZLQGRZ
LGHQWLILHGE\WKH&6XE&OV$SSKZQGSURSHUW\7KLVLVSHUIRUPHGLQWKH
&6XE&OV$SS(QDEOH6XEFODVVIXQFWLRQ:KHQWKH8Q6XEFODVVEXWWRQLVFOLFNHGWKH
VXEFODVVLQJFRGHLVUHPRYHGE\FDOOLQJWKH&6XE&OV$SS'LVDEOH6XEFODVVIXQFWLRQ)LQDOO\
WKHREMHFWZHFUHDWHGLVGHVWUR\HGZKHQZHXQORDGWKLVZLQGRZ7KLVDOORZVWKHFRGHLQWKH
&6XEFODVVB7HUPLQDWHHYHQWWRUHPRYHDQ\VXEFODVVLQJVRWKDWWKHDSSOLFDWLRQFDQVKXWGRZQ
ZLWKRXWFUDVKLQJ
([DPSOH&RGHIRUWKHIUP&K)RUP 3ULYDWH6XE)RUPB/RDG
6HW&6XE&OV$SS 1HZ&6XEFODVV
&6XE&OV$SSKZQG 0HKZQG
(QG6XE
3ULYDWH6XEFPG6XEFODVVB&OLFN
&DOO&6XE&OV$SS(QDEOH6XEFODVV
(QG6XE
3ULYDWH6XEFPG8Q6XEFODVVB&OLFN &DOO&6XE&OV$SS'LVDEOH6XEFODVV
(QG6XE
3ULYDWH6XE)RUPB4XHU\8QORDG&DQFHO$V,QWHJHU8QORDG0RGH$V,QWHJHU 6HW&6XE&OV$SS 1RWKLQJ
(QG6XE
'RLQJ6RPHWKLQJ,QWHUHVWLQJ $OWKRXJKWKLVLVDJRRGH[HUFLVHLQOHDUQLQJKRZWRVXEFODVVDZLQGRZZHDUHQRWGRLQJ
DQ\WKLQJXVHIXOKHUH,QWKLVVHFWLRQ,ZLOOVKRZ\RXKRZWRDOORZDXVHUWRUHVL]HRQO\RQH
VLGHRIDZLQGRZZLWKRXWUHVL]LQJDQ\RWKHUSRUWLRQRIWKHZLQGRZ$OVR,ZLOORYHUULGHWKH
GHIDXOWZLQGRZ VPLQLPL]HIXQFWLRQDOLW\E\FDSWXULQJPHVVDJHVVSHFLILFWRZLQGRZ
PLQLPL]DWLRQ%\LQWHUFHSWLQJWKHVHPHVVDJHVZHFDQIRUFHWKHZLQGRZWRUROOXSRUKLGH LWVHOILQDQ\RWKHUZD\WKDWZHZDQWZKHQWKHXVHUWULHVWRPLQLPL]HWKHZLQGRZ 2YHUULGLQJZLQGRZUHVL]LQJ
7KHILUVWWKLQJZHPXVWGREHIRUHZULWLQJDQ\FRGHLVILJXUHRXWZKLFKPHVVDJHRUPHVVDJHV
WRFDSWXUH,XVXDOO\XVHWKH6S\WRROLQFRQMXQFWLRQZLWKWKH0LFURVRIW'HYHORSHU1HWZRUN
06'1 &'520,XVHWKH6S\WRROWRZDWFKIRUVSHFLILFPHVVDJHVRUIRUSDWWHUQVRI
PHVVDJHV7KHQ,ORRNXSWKHLUPHDQLQJVLQWKH06'1
ILJXUHRXWZKLFKPHVVDJHV\RXZLOOQHHGWRZDWFKIRUE\ORRNLQJXSPHVVDJHVVSHFLILFWRWKH
W\SHRIZLQGRZ\RXDUHVXEFODVVLQJLQWKH06'17KHQXVLQJ6S\ZDWFKIRUWKHVH
VSHFLILFPHVVDJHV
7KRURXJKO\UHVHDUFKWKHPHVVDJHVWKDW\RXZLOOEH
WUDSSLQJLQWKHVXEFODVVHGZLQGRZSURFHGXUH(DFK PHVVDJHKDVLWVRZQLGLRV\QFUDVLHV
8VXDOO\LWWDNHVPRUHWKDQRQHPHVVDJHWRSHUIRUPDQDFWLRQLQ:LQGRZV7DNHIRUH[DPSOH
UHVL]LQJDZLQGRZ'XULQJWKLVRSHUDWLRQPDQ\PHVVDJHVDUHVHQWWRDQGIURPDZLQGRZ
ZKHQLWLVJRLQJWKURXJKWKHUHVL]LQJSURFHVV7KHIROORZLQJLVDOLVWRIWKHPHVVDJHVVHQWDQG
WKHLURUGHUIRUWKHVL]LQJSURFHVV
:0B1&/%87721'2:13RVWHG
:0B6<6&200$1'6HQW
:0B(17(56,=(029(6HQW
:0B(17(56,=(029(5HFHLYHG
:0B6,=,1*6HQW
:0B6,=,1*5HFHLYHG
:0B:,1'2:326&+$1*,1*6HQW
:0B*(70,10$;,1)26HQW
:0B*(70,10$;,1)25HFHLYHG
:0B:,1'2:326&+$1*,1*5HFHLYHG
:0B:,1'2:326&+$1*('6HQW
:0B6,=(6HQW
:LQGRZLVUHSDLQWHG
:0B6,=(5HFHLYHG
:0B:,1'2:326&+$1*('5HFHLYHG
:0B(;,76,=(029(6HQW
:0B(;,76,=(029(5HFHLYHG
:0B6<6&200$1'5HFHLYHG
7KHSURFHVVVWDUWVZLWKWKHXVHUFOLFNLQJWKHOHIWPRXVHEXWWRQRYHUDZLQGRZERUGHUDQG
GUDJJLQJWKDWERUGHUWRUHVL]HLW$:0B1&/%87721'2:1PHVVDJHLVSRVWHGWRWKLV
ZLQGRZLQUHVSRQVHWRWKHXVHUFOLFNLQJDQGKROGLQJGRZQWKHOHIWPRXVHEXWWRQ7KLV
PHVVDJHFRQWDLQVLQIRUPDWLRQDERXWZKLFKERUGHUWKHPRXVHLVRYHULQLWVZ3DUDPDUJXPHQW
7KLVPHVVDJHLVWKHQSDVVHGRQWRWKH'HI:LQGRZ3URFIXQFWLRQDIWHUWKHZLQGRZSURFHGXUH
KDVILQLVKHGSURFHVVLQJLW'HI:LQGRZ3URFGHWHUPLQHVLIDVL]LQJRSHUDWLRQQHHGVWREH
LQLWLDWHG,IVR'HI:LQGRZ3URFVHQGVD:0B6<6&200$1'PHVVDJHWRWKHPHVVDJH
TXHXHRIWKHZLQGRZEHLQJUHVL]HG7KHZ3DUDPPHPEHUIRUWKLVPHVVDJHFRQWDLQVWKHYDOXH
6&B6,=(ZKLFKLQIRUPVWKHZLQGRZWKDWLWLVEHLQJVL]HG7KHO3DUDPPHPEHUFRQWDLQVWKH
PRXVHFXUVRU V[DQG\SRVLWLRQ$WWKLVSRLQWWKHXVHULVKROGLQJWKHOHIWPRXVHEXWWRQGRZQ
ZKLOHGUDJJLQJDERUGHURIWKHZLQGRZ$OOPHVVDJHVIURPWKLVSRLQWDUHQHVWHGZLWKLQWKH
:0B6<6&200$1'PHVVDJH,QRWKHUZRUGVWKHZLQGRZSURFHGXUHGRHVQRWUHWXUQ
LPPHGLDWHO\ZKHQLWLVSDVVHGWKLVPHVVDJHLQVWHDGRWKHUPHVVDJHVDUHVHQWLQUHVSRQVHWR
WKLVPHVVDJH
7KHRQO\PHVVDJHWKDWLVSRVWHGLV:0B1&/%87721'2:1DOORWKHUPHVVDJHVIRUWKH
VL]LQJSURFHVVDUHVHQWWRWKHZLQGRZ7KHGLIIHUHQFHLVWKDWSRVWHGPHVVDJHVDUHVHQWWRWKH
ZLQGRZ VPHVVDJHTXHXHZKLOHVHQWPHVVDJHVDUHVHQWGLUHFWO\WRWKHZLQGRZSURFHGXUHIRU
LPPHGLDWHSURFHVVLQJ7KH'HI:LQGRZ3URFIXQFWLRQVHQGVWKHVHPHVVDJHVWRWKHZLQGRZVR
WKDWWKH\FDQEHSURFHVVHGEHIRUHDQ\SHQGLQJPHVVDJHVLQWKHTXHXH:KHQVL]LQJD
ZLQGRZWKHV\VWHPGRHVQRWZDQWDQ\RWKHUPHVVDJHVWRLQWHUIHUHZLWKWKLVRSHUDWLRQ
,QUHVSRQVHWRWKH:0B6<6&200$1'PHVVDJH'HI:LQGRZ3URFVHQGVWKH
:0B(17(56,=(029(PHVVDJHWRWKHZLQGRZ7KLVPHVVDJHLQIRUPVWKHZLQGRZWKDWLW
KDVHQWHUHGDVL]LQJRUPRYLQJPRGDOORRS:KLOHLQWKLVPRGDOORRSWKHZLQGRZLVIRUFHGWR
SURFHVVRQO\SRVLWLRQLQJRUVL]LQJPHVVDJHV7KLVSXWVDOORWKHUPHVVDJHVWKDWFRXOG
DGYHUVHO\DIIHFWWKHVL]LQJRUSRVLWLRQLQJRIDZLQGRZRQKROG7KLVPRGDOORRSUXQVIURP
ZLWKLQWKH'HI:LQGRZ3URFIXQFWLRQ:KLOHLQWKLVORRSWKHIXQFWLRQZLOORQO\VHQGPHVVDJHVWR
WKHZLQGRZUHODWLQJWRWKHVL]LQJSURFHVV
$IWHUVHQGLQJWKH:0B(17(56,=(029(PHVVDJHWKH'HI:LQGRZ3URFIXQFWLRQVHQGVWKH
:0B6,=,1*PHVVDJHWRWKHZLQGRZ7KHZ3DUDPPHPEHUIRUWKLVPHVVDJHFRQWDLQVWKH
ZLQGRZERUGHUWKDWLVEHLQJVL]HG7KHO3DUDPPHPEHUFRQWDLQVDSRLQWHUWRD5(&7
VWUXFWXUHZKLFKGHILQHVWKHGLPHQVLRQDQGSRVLWLRQRIWKHZLQGRZ7KHZLQGRZSURFHGXUH
VHQGVWKLVPHVVDJHWRWKH'HI:LQGRZ3URFIXQFWLRQZKHQLWLVILQLVKHGSURFHVVLQJLW
1H[W'HI:LQGRZ3URFVHQGVWKH:0B:,1'2:326&+$1*,1*PHVVDJHFRQWDLQLQJWKH
QHZYDOXHVIRUWKHZLQGRZVL]HSRVLWLRQDQG=RUGHU7KLVPHVVDJHFRQWDLQVDSRLQWHUWRWKH
:,1'2:326VWUXFWXUHLQWKHO3DUDPPHPEHUDQG18//LQWKHZ3DUDPPHPEHU7KH
:,1'2:326VWUXFWXUHFRQWDLQVWKHVL]HSRVLWLRQDQG=RUGHUYDOXHVRIWKHZLQGRZ7KHVH
YDOXHVFDQEHPRGLILHGWRRYHUULGHWKHGHIDXOWVL]LQJPRYLQJDQG=RUGHUEHKDYLRUV
,QUHVSRQVHWRWKH:0B:,1'2:326&+$1*,1*PHVVDJH'HI:LQGRZ3URFVHQGVD
:0B*(70,10$;,1)2PHVVDJHWRWKHZLQGRZEHLQJVL]HG7KLVPHVVDJHDOORZVWKH
DSSOLFDWLRQWRYDOLGDWHWKHZLQGRZVL]HDQGSRVLWLRQEHIRUHSURFHHGLQJ7KLVPHVVDJH
FRQWDLQVDSRLQWHUWRWKLVVWUXFWXUHGHILQLQJWKHGHIDXOWYDOXHVIRUWKLVZLQGRZ VPD[LPL]HG
SRVLWLRQPD[LPL]HGVL]HDQGWUDFNLQJVL]HLQWKHO3DUDPPHPEHU7KHYDOXHVLQWKLVVWUXFWXUH
FDQEHPRGLILHGWRFRQWUROWKHRXWFRPHRIWKHVL]LQJRUPRYLQJRSHUDWLRQ7KHZ3DUDP
PHPEHUFRQWDLQVD18//
1H[W'HI:LQGRZ3URFVHQGVWKH:0B:,1'2:326&+$1*('PHVVDJH7KLVPHVVDJHLV
VLPLODUWRWKH:0B:,1'2:326&+$1*,1*PHVVDJHH[FHSWWKDWWKHVL]HSRVLWLRQDQG=
RUGHURIWKHZLQGRZKDYHEHHQFKDQJHG7KHO3DUDPDQGZ3DUDPPHPEHUVDUHH[DFWO\WKH
VDPHIRUERWKPHVVDJHV0RGLILFDWLRQVPDGHWRWKH:,1'2:326VWUXFWXUHFRQWDLQHGLQWKH
O3DUDPPHPEHURIWKLVPHVVDJHZLOOKDYHQRHIIHFWRQWKHZLQGRZ
:KHQWKHXVHUUHOHDVHVWKHOHIWPRXVHEXWWRQWKH:0B6,=(PHVVDJHLVVHQWE\
'HI:LQGRZ3URFLQIRUPLQJWKHZLQGRZWKDWWKHXVHULVILQLVKHGVL]LQJWKHZLQGRZ7KHO3DUDP
PHPEHURIWKLVPHVVDJHFRQWDLQVWKH6,=(B5(6725('IODJZKLFKLQIRUPVWKHZLQGRZWKDW
LWKDVEHHQUHVL]HG7KHZ3DUDPPHPEHUFRQWDLQVWKHQHZZLGWKDQGKHLJKWRIWKHFOLHQW
DUHDRIWKLVZLQGRZ0RUHPHVVDJHVDUHVHQWWRUHSRVLWLRQDQGUHSDLQWWKHQHZO\VL]HG
ZLQGRZ)LQDOO\D:0B(;,76,=(029(PHVVDJHLVVHQWE\'HI:LQGRZ3URFWRWKHZLQGRZ
IRUFLQJWKHZLQGRZWRH[LWWKHVL]LQJPRGDOORRSDQGDOORZRWKHUPHVVDJHVLQWKHPHVVDJH
TXHXHWREHSURFHVVHGQRUPDOO\7KLVPHVVDJHFRQWDLQV18//VLQLWVZ3DUDPDQGO3DUDP
PHPEHUV,WLVKHUHWKDWWKH:0B6<6&200$1'PHVVDJHUHWXUQVIURPWKH'HI:LQGRZ3URF
IXQFWLRQDQGWKHZLQGRZLVRQFHDJDLQDEOHWRSXOOPHVVDJHVIURPLWVPHVVDJHTXHXH
0DQ\DFWLRQVSHUIRUPHGRQDZLQGRZFRQVLVWRIDVHULHVRIPHVVDJHV&RQVLGHUFUHDWLQJD
ZLQGRZGHVWUR\LQJDZLQGRZPD[LPL]LQJDZLQGRZRUHYHQDFWLYDWLQJDZLQGRZ7KLVGRHV
QRWPHDQWKDWDOODFWLRQVWKDWWDNHSODFHDUHWKLVFRPSOH[EXWEHSUHSDUHGWRGLJLQWRWKH
PHVVDJHVDQGWKHLUGHILQLWLRQV
7RGHWHUPLQHZKLFKPHVVDJHV,ZDVLQWHUHVWHGLQ,VHWXS6S\WRZDWFKIRU*HQHUDO
PHVVDJHVDQG1RQ&OLHQWPHVVDJHVIRUDSDUWLFXODUZLQGRZ7KHQ,SUHVVHGWKH)NH\WR
DOORZ6S\WRVWDUWORJJLQJPHVVDJHV,DFWLYDWHGWKHZLQGRZWKDWZDVEHLQJVSLHGRQDQG
UHVL]HGDERUGHU$VVRRQDV,ZDVGRQH,VWRSSHG6S\IURPORJJLQJDQ\PRUHPHVVDJHV
0DQ\PHVVDJHVZHUHILUHGEXWIRUWXQDWHO\PDQ\RIWKHVHZHUHGXSOLFDWHVIURPVXFKDFWLRQV
DVPRYLQJWKHPRXVH:0B1&+,77(67LVRQHRIWKHPHVVDJHVWKDWDSSHDUPXOWLSOHWLPHV
$V,PHQWLRQHGHDUOLHULQWKLVFKDSWHULQ6HFWLRQWKLVPHVVDJHLVGLUHFWO\UHODWHGWR
PRXVHDFWLRQV%HFDXVHPRXVHDFWLRQVDUHUHTXLUHGIRUVL]LQJDZLQGRZERUGHUFOLFNLQJWKH
PRXVHEXWWRQDQGGUDJJLQJWKHZLQGRZERUGHU WKLVPHVVDJHLVRILPSRUWDQFH/RRNLQJGRZQ
WKURXJKWKHOLVWRIPHVVDJHV,QRWLFHGWKHVSRWZKHUHVL]LQJDQGUHSDLQWLQJPHVVDJHVVWDUWHG
WRDSSHDUHJ:0B6,=,1*:0B:,1'2:326&+$1*(':0B6,=(HWF 7KLVLVWKH DUHDZKHUHWKHZLQGRZUHVL]LQJWRRNSODFH$WWKHEHJLQQLQJRIWKHUHVL]LQJRSHUDWLRQD
:0B1&/%87721'2:1PHVVDJHLVSRVWHGZLWKWKHSDUDPHWHU+7%277207KLVPHDQV
WKDWWKHOHIWPRXVHEXWWRQZDVFOLFNHGZKLOHWKHFXUVRUZDVRYHUWKHERWWRPERUGHURIWKH
ZLQGRZ+7%27720
6RQRZWKDWZHKDYHDVHQVHRIWKHVHTXHQFHRIPHVVDJHVLQYROYHGLQUHVL]LQJDZLQGRZ
ZHFDQZULWHDZLQGRZSURFHGXUHWKDWZLOORQO\DOORZWKHZLQGRZ VERWWRPERUGHUWREH
UHVL]HG7KLVSURFHGXUHZKLFKLVVKRZQLQ([DPSOHXVHV&DOO:LQGRZ3URFWRSDVVDOO PHVVDJHVRQWRWKHRULJLQDOZLQGRZSURFHGXUHZLWKDVLQJOHH[FHSWLRQDQ\
:0B1&/%87721'2:1PHVVDJHZKRVHZ3DUDPPHPEHUKDVDYDOXHRWKHUWKDQ
+7%27720LQGLFDWLQJWKDWWKHXVHULVDWWHPSWLQJWRUHVL]HWKHWRSOHIWULJKWWRSULJKWWRS
OHIWERWWRPULJKWRUERWWRPOHIWERUGHUV LVKDQGOHGE\RXUZLQGRZSURFHGXUHDORQH,WDGGVD
OLQHWRWKHWH[WER[6NLSSLQJWKHUHVL]HSURFHVV DQGUHWXUQVDLQGLFDWLQJWKDWSURFHVVLQJ
RIWKHPHVVDJHLVFRPSOHWH$VDUHVXOWWKHGHIDXOWVL]LQJEHKDYLRURFFXUVRQO\ZKHQWKH
Z3DUDPRIWKLVPHVVDJHLVHTXDOWR+7%277202WKHUZLVHWKHGHIDXOWVL]LQJURXWLQHLVQRW
FDOOHG
([DPSOH:LQGRZ3URFHGXUHWR$OORZ5HVL]LQJRI2QO\WKH%RWWRP:LQGRZ%RUGHU 3XEOLF)XQFWLRQ1HZ:QG3URF%\9DOKZQG$V/RQJ%\9DOX0VJ$V/RQJB
,IX0VJ :0B1&/%87721'2:1$QGB
/RQJ
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V
Z3DUDP +7/()72UZ3DUDP +75,*+72UB
Z3DUDP +77232UZ3DUDP +7723/()72UB
Z3DUDP +77235,*+72UZ3DUDP +7%27720/()72UB Z3DUDP +7%277205,*+7 7KHQ
IUP&KW[W0HVVDJHV7H[W IUP&KW[W0HVVDJHV7H[W B
(OVH
6NLSSLQJWKHUHVL]HSURFHVV YE1HZ/LQH
1HZ:QG3URF
1HZ:QG3URF &DOO:LQGRZ3URF&6XE&OV$SS2ULJ:QG3URFB
(QG,I
KZQGX0VJZ3DUDPO3DUDP
(QG)XQFWLRQ
7RDOORZWKHZLQGRZWRSHUIRUPWKHGHIDXOWSURFHVVLQJIRU
DPHVVDJHLWPXVWEHSDVVHGRQWRWKHRULJLQDOZLQGRZ SURFHGXUH&DOO:LQGRZ3URF RUWRWKHGHIDXOWZLQGRZ
SURFHGXUH'HI:LQGRZ3URF
7KHUHLVRQHSUREOHPWKRXJK,I\RXFOLFNWKHV\VWHPPHQXRIWKHVXEFODVVHGZLQGRZ
FKRRVHWKH6L]HPHQXLWHPDQGWKHQVL]HDQ\ZLQGRZERUGHURXUFRGHZLOOQRWVWRSDQ\EXW
WKHERWWRPERUGHUIURPEHLQJUHVL]HG)RUVRPHUHDVRQRXUFRGHLVQRWEHLQJH[HFXWHG:K\
LVWKLV"6WDUWXS6S\DQGZDWFKWKH1RQ&OLHQWDQG*HQHUDOPHVVDJHVVHOHFWWKHVHWZRRQ
WKH0HVVDJHVWDERIWKH0HVVDJH2SWLRQVGLDORJER[ ZKHQUHVL]LQJWKHZLQGRZXVLQJWKH
6L]HV\VWHPPHQXLWHP$ODUJHQXPEHURI:0B1&+,77(67PHVVDJHVZLOODSSHDU2GGO\
QR:0B1&/%87721'2:1PHVVDJHVDSSHDU6L]LQJWKHZLQGRZERUGHUVXVLQJWKH6L]H
PHQXLWHPE\SDVVHVWKH:0B1&/%87721'2:1PHVVDJH6S\VKRZVWKDWWKLVLV
EHFDXVHZKHQZHUHVL]HDZLQGRZE\FOLFNLQJDQGGUDJJLQJZLWKWKHPRXVHWKH
:0B1&/%87721'2:1PHVVDJHLVZKDWFDXVHVWKH:0B6<6&200$1'PHVVDJHWREH
ILUHGZLWKDZ3DUDPYDOXHRI6&B6,=(:KHQZHUHVL]HWKHZLQGRZE\XVLQJWKH6L]HPHQX
LWHPWKH:0B6<6&200$1'PHVVDJHZLWKWKH6&B6,=(Z3DUDPYDOXHLVDXWRPDWLFDOO\
SRVWHGWRWKHZLQGRZ VPHVVDJHTXHXH7KXVEHFDXVHWKHZLQGRZLVDOUHDG\LQWKHVL]LQJ
PRGDOORRSWKH:0B1&/%87721'2:1PHVVDJHLVXQQHFHVVDU\
7RVROYHRXUGLOHPPDZHFRXOGUHPRYHWKH6L]HPHQXLWHPIURPWKHV\VWHPPHQXEXWD
VROXWLRQWKDWGRHVQRWIRUFHXVWRPRGLI\RWKHUEHKDYLRUVMXVWWRIL[WKHLPPHGLDWHSUREOHPLV
SUHIHUDEOH7KHVHVKRUWWHUPVROXWLRQVDUHVKRUWFXWVDQGKDYHFDXVHGSUREOHPVIRUPDQ\D
GHYHORSHUODWHURQLQWKHGHYHORSPHQWF\FOH,QVWHDGLQVXFKFDVHVPRUHUHVHDUFKDQGPRUH
REVHUYDWLRQXVXDOO\KHOSV
XVHGLQWKHVL]LQJSURFHVV:0B6,=,1*7KLVPHVVDJHVLPLODUWR:0B1&/%87721'2:1
FRQWDLQVDFRQVWDQWLGHQWLI\LQJWKHERUGHUWKDWLVEHLQJVL]HGLQWKHZ3DUDPPHPEHU7KH
O3DUDPPHPEHULVDSRLQWHUWRD5(&7VWUXFWXUHGHILQLQJWKHQHZVL]HRIWKHZLQGRZ
/LPLWLQJZLQGRZVL]LQJWRWKHERWWRPERUGHULVVWUDLJKWIRUZDUG:H OOXVHWKH*HW:LQGRZ5HFW
$3,IXQFWLRQWRJHWWKHFXUUHQWVL]HDQGSRVLWLRQRIWKHZLQGRZ5HPHPEHUWKHZLQGRZKDV
QRWEHHQVL]HGDWWKLVSRLQW*HW:LQGRZ5HFWLVGHILQHGLQ9%DVIROORZV
3ULYDWH'HFODUH)XQFWLRQ*HW:LQGRZ5HFW/LEXVHUB
,WVSDUDPHWHUVDUH KZQG
OS5HFW
%\9DOKZQG$V/RQJOS5HFW$V5(&7 $V/RQJ
7KHKDQGOHRIWKHZLQGRZ $SRLQWHUWRD5(&7VWUXFWXUH
$5(&7VWUXFWXUHLVGHILQHGLQ9%DVIROORZV
3XEOLF7\SH5(&7
/HIW$V/RQJ (TXDOWRWKH/HIWSURSHUW\RIDIRUP
7RS$V/RQJ (TXDOWRWKH7RSSURSHUW\RIDIRUP
5LJKW$V/RQJ (TXDOWRWKH:LGWKSURSHUW\RIDIRUP
%RWWRP$V/RQJ (TXDOWRWKH+HLJKWSURSHUW\RIDIRUP (QG7\SH
*HW:LQGRZ5HFWLVXVHGWRJHWWKHSUHYLRXVSRVLWLRQDQGVL]HRIWKHZLQGRZ7KLVLQIRUPDWLRQ
LVXVHGWRUHSODFHWKHGDWDSRLQWHGWRE\WKHO3DUDPPHPEHURIWKH:0B6,=,1*PHVVDJH
VWUXFWXUHLQDOOVLWXDWLRQVH[FHSWZKHQWKHERWWRPERUGHULVEHLQJVL]HG7KHFRGHWRGRWKLVLV
VKRZQLQ([DPSOH
([DPSOH:LQGRZ3URFHGXUHWR+DQGOH5HVL]LQJZLWKWKH6\VWHP0HQX 3XEOLF)XQFWLRQ1HZ:QG3URF%\9DOKZQG$V/RQJ%\9DOX0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
'LP5HFW6WUXFW$V5(&7
'LP2ULJ5HFW6WUXFW$V5(&7
,IX0VJ :0B6,=,1*$QGZ3DUDP!:06=B%277207KHQ 'RQRWVL]H
*HWQHZZLQGRZGLPHQVLRQV
&RS\0HPRU\5HFW6WUXFW%\9DOO3DUDP/HQ%5HFW6WUXFW
*HWRULJLQDOZLQGRZGLPHQVLRQV
*HW:LQGRZ5HFWKZQG2ULJ5HFW6WUXFW
'RQRWDOORZWKHVHVLGHVWREHVL]HG
5HFW6WUXFW7RS 2ULJ5HFW6WUXFW7RS
5HFW6WUXFW/HIW 2ULJ5HFW6WUXFW/HIW
5HFW6WUXFW5LJKW 2ULJ5HFW6WUXFW5LJKW
6HWQHZZLQGRZGLPHQVLRQV
&RS\0HPRU\%\9DOO3DUDP5HFW6WUXFW/HQ%5HFW6WUXFW
(QG,I
1HZ:QG3URF &DOO:LQGRZ3URF&6XE&OV$SS2ULJ:QG3URFKZQGX0VJZ3DUDP
O3DUDP
(QG)XQFWLRQ
&RS\0HPRU\LVXVHGWRUHWULHYHDQGVHWWKHO3DUDPPHPEHURIWKH:0B6,=,1*PHVVDJH
VWUXFWXUH
2YHUULGLQJDZLQGRZ VPLQLPL]HEHKDYLRU )RUWKLVQH[WH[DPSOHZHZLOORYHUULGHWKHPLQLPL]HEHKDYLRURIWKHZLQGRZ,QVKRUWZKHQ WKH0LQLPL]HEXWWRQRQWKHZLQGRZVWLWOHEDULVFOLFNHGWKHGHIDXOWZLQGRZEHKDYLRULV
UHSODFHGZLWKDQHZEHKDYLRU,QVWHDGRIPLQLPL]LQJWKHZLQGRZRXUZLQGRZSURFHGXUHZLOO
UROOXSWKHZLQGRZVRWKDWRQO\WKHWLWOHEDULVVKRZLQJ7KHUHVXOWZLOOORRNVLPLODUWR)LJXUH
)LJXUH7KHUROOHGXSZLQGRZ
/HW VVWDUWZLWKWKH:0B1&/%87721'2:1PHVVDJHRQFHDJDLQ7KLVPHVVDJHSURYLGHV
JUHDWLQIRUPDWLRQRQZKHUHWKHPRXVHLVORFDWHGZKHQWKHOHIWPRXVHEXWWRQLVSUHVVHG7KLV
WLPHZHDUHORRNLQJIRUWKHZ3DUDPSDUDPHWHUWRFRQWDLQWKH+70,1%87721FRQVWDQW7KLV
PHDQVWKDWWKHOHIWPRXVHEXWWRQKDVEHHQFOLFNHGRQWKH0LQLPL]HEXWWRQRQWKHZLQGRZ V
WLWOHEDU$VDQRWHZHZDQWWRPDNHVXUHWKDWRXUFRGHLVQRWH[HFXWHGZKHQWKHZLQGRZLV
PD[LPL]HGDQGWKDWLQVWHDGWKHGHIDXOWIXQFWLRQDOLW\LVH[HFXWHG,IZHZHUHWRWU\WRFKDQJH
WKHKHLJKWRIWKHZLQGRZZKLOHLWLVPD[LPL]HGD*3)ZRXOGRFFXULQWKHDSSOLFDWLRQ:H
SUHYHQWWKLVE\FKHFNLQJWRPDNHVXUHWKDWWKHIUP&K:LQGRZ6WDWHSURSHUW\LVQRWHTXDOWR
YE0D[LPL]HG7KHILUVWFXWRIWKHFRGHLQWKHVXEFODVVHGZLQGRZSURFHGXUHORRNVOLNH ([DPSOH
([DPSOH:LQGRZ3URFHGXUHWR&KDQJHWKH'HIDXOW0LQLPL]H%HKDYLRU 3XEOLF)XQFWLRQ1HZ:QG3URF%\9DOKZQG$V/RQJ%\9DOX0VJ$V/RQJB
,IX0VJ :0B1&/%87721'2:1$QGB
/RQJ
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V
Z3DUDP +70,1%87721$QGB
IUP&K:LQGRZ6WDWH!YE0D[LPL]HG7KHQ
IUP&K+HLJKW
1HZ:QG3URF
(OVH
3DVVPHVVDJHWRWKHGHIDXOWZLQGRZSURFHGXUH
1HZ:QG3URF &DOO:LQGRZ3URF&6XE&OV$SS2ULJ:QG3URFB
KZQGX0VJZ3DUDPO3DUDP
(QG,I
(QG)XQFWLRQ
,IZHXVHWKLVFRGHRXUZLQGRZZLOOUROOXSZKHQWKH0LQLPL]HEXWWRQRQWKHWLWOHEDULVFOLFNHG
7KHUHDUHWZRSUREOHPVZLWKWKLVDSSURDFK7KHILUVWLVVLPLODUWRWKHSUHYLRXVH[DPSOHWKH
0LQLPL]HPHQXLWHPLQWKHV\VWHPPHQXVWLOOPLQLPL]HVWKHZLQGRZZLWKRXWH[HFXWLQJRXU
FRGHWRUROOLWXS7KHVHFRQGSUREOHPLVWKDWWKH0LQLPL]HEXWWRQLVQRWYLVXDOO\GHSUHVVHG
ZKHQLWLVFOLFNHG7KHFDXVHRIWKLVVHFRQGSUREOHPLVWKDWWKHFRGHWRGUDZWKHEXWWRQLQWKH
GHSUHVVHGVWDWHLVLQWKHGHIDXOWZLQGRZSURFHGXUH,I\RXQRWLFHWKHGHIDXOWZLQGRZ
SURFHGXUHLVQHYHUFDOOHGLQRXUVXEFODVVHGZLQGRZSURFHGXUHLIWKHXVHUFOLFNVWKH0LQLPL]H
EXWWRQ,QDGGLWLRQWKHUHLVDWKLUGPLQRUSUREOHP:KHQWKHZLQGRZLVVXEFODVVHGDQGUROOHG
XSWKHUHVWRUHIXQFWLRQDOLW\LVQRWDYDLODEOH7KLVLVEHFDXVHWKHUHVWRUHIXQFWLRQDOLW\LV
DYDLODEOHRQO\ZKHQWKHZLQGRZLVLQWKHPLQLPL]HGVWDWH,QWKLVFDVHWKHZLQGRZLVVWLOOLQ
WKHQRUPDOVWDWHZKHQLWLVUROOHGXSWKHUHIRUHWKH5HVWRUHEXWWRQDQGWKH5HVWRUHPHQXLWHP
DUHQRWDYDLODEOH
,QVWHDGRIIRFXVLQJRQWKHFDXVHRIWKHPLQLPL]DWLRQDFWLRQZHZLOOIRFXVRQWKHUHVXOWRI
FOLFNLQJWKH0LQLPL]HEXWWRQ&OHDUO\WKH:0B6<6&200$1'PHVVDJHZLWKWKH
6&B0,1,0,=(YDOXHIRUWKHZ3DUDPDUJXPHQWLVZKDWLQVWLJDWHVWKHPLQLPL]DWLRQDFWLRQ
/HW VXVHWKLVPHVVDJHWRWULJJHURXUUROOXSIXQFWLRQDOLW\7KHFRGHIRUWKLVVROXWLRQLVVKRZQ
LQ([DPSOH
([DPSOH0LQLPL]LQJD:LQGRZ8VLQJWKH:0B6<6&200$1'0HVVDJH
3XEOLF)XQFWLRQ1HZ:QG3URF%\9DOKZQG$V/RQJ%\9DOX0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
'LP6L]LQJ6WUXFW$V0,10$;,1)2
,IX0VJ :0B6<6&200$1'7KHQ ,IZ3DUDP 6&B0,1,0,=(7KHQ
,IIUP&K:LQGRZ6WDWH!YE0D[LPL]HG7KHQ
'RQRWSURFHVVPHVVDJHLQVWHDGGRRXURZQZRUN IUP&K+HLJKW (OVH
+DQGOHWKLVKRZHYHU\RXZDQW (QG,I
1HZ:QG3URF (OVH
1HZ:QG3URF 'HI:LQGRZ3URFKZQGX0VJZ3DUDPO3DUDP
(QGLI (OVH
3DVVPHVVDJHWRWKHGHIDXOWZLQGRZSURFHGXUH
1HZ:QG3URF &DOO:LQGRZ3URF&6XE&OV$SS2ULJ:QG3URFB
KZQGX0VJZ3DUDPO3DUDP (QG,I
(QG)XQFWLRQ
7KLVFRGHZRUNVDVLWVKRXOG7KLVLVQRWWRVD\WKDWWKH:0B1&/%87721'2:1PHVVDJHLV
SUREOHPDWLF,QVWHDG,ZDQWHGWRVKRZ\RXKRZ,DUULYHGDWP\FRQFOXVLRQVDVZHOODVVKRZ
H[DPSOHVRIFDSWXULQJGLIIHUHQWPHVVDJHV$V\RXFDQVHHIURPWKHVHODVWWZRH[DPSOHV
PRGLI\LQJWKHGHIDXOWEHKDYLRURIDZLQGRZFDQEHFRPHDGDXQWLQJWDVN
*OREDO6XEFODVVLQJ *OREDOVXEFODVVLQJUHYROYHVDURXQGWKHVDPHSULQFLSOHVDVLQVWDQFHVXEFODVVLQJ:LWKJOREDO
VXEFODVVLQJWKRXJKZHDUHJRLQJWRJRRQHOHYHOGHHSHUEHIRUHSHUIRUPLQJWKHVXEFODVVLQJ
%\WKLV,PHDQWKDWWKHPRGLILFDWLRQVWRWKHZLQGRZSURFHGXUHIXQFWLRQSRLQWHUZLOORFFXULQWKH
FODVVLWVHOIQRWWKHLQGLYLGXDOZLQGRZFUHDWHGIURPWKHFODVV2QO\WKRVHZLQGRZVFUHDWHG
IURPWKHFODVVDIWHUWKHVXEFODVVLQJKDVRFFXUUHGZLOOXVHWKHQHZVXEFODVVHGZLQGRZ
SURFHGXUH:KHQ,PHQWLRQVXEFODVVLQJLQWKLVVHFWLRQ,DPUHIHUULQJWRJOREDOVXEFODVVLQJ
,QVWDQFHVXEFODVVLQJDIIHFWVDVSHFLILFZLQGRZDQGLWV
ZLQGRZSURFHGXUH*OREDOVXEFODVVLQJDIIHFWVHYHU\ ZLQGRZFUHDWHGIURPDZLQGRZFODVVWKDWKDVKDGLWVFODVV ZLQGRZSURFHGXUHPRGLILHG
8QOLNHLQVWDQFHVXEFODVVLQJJOREDOVXEFODVVLQJFDQFDSWXUHWKHZLQGRZFUHDWLRQPHVVDJHV
DQGPRUHVSHFLILFDOO\:0B&5($7(DQG:0B1&&5($7(:KHQDZLQGRZLVFUHDWHGWKH
:0B1&&5($7(PHVVDJHLVVHQWILUVWWRWKHZLQGRZWRILQLVKFUHDWLQJLWVQRQFOLHQWDUHDLQ
PHPRU\7KH:0B&5($7(PHVVDJHLVVHQWQH[WWRILQLVKFUHDWLQJWKHZLQGRZ VFOLHQWDUHD
LQPHPRU\1RWHWKDWWKHZLQGRZLVVWLOOQRWGLVSOD\HGRQWKHVFUHHQDWWKLVSRLQW2WKHU
PHVVDJHVVWLOOQHHGWREHVHQWWRWKHZLQGRZWRSRVLWLRQVL]HDQGSDLQWLWRQWKHGHVNWRS
7KHUHDVRQWKDWLQVWDQFHVXEFODVVLQJFDQQRWFDSWXUHWKHVHPHVVDJHVLVWKDWZKHQLQVWDQFH
VXEFODVVLQJRFFXUVWKHZLQGRZKDVDOUHDG\EHHQFUHDWHG7KHUHIRUHWKHZLQGRZFUHDWLRQ
PHVVDJHVKDYHDOUHDG\EHHQSURFHVVHG*OREDOVXEFODVVLQJRQWKHRWKHUKDQGRFFXUV
EHIRUHDZLQGRZLVFUHDWHG7KHVXEFODVVHGZLQGRZSURFHGXUHLVLQSODFHDWWKHSRLQWZKHQ
WKHZLQGRZLVFUHDWHG7KHUHIRUHDOOZLQGRZFUHDWLRQPHVVDJHVDUHFDSWXUHG
*OREDOVXEFODVVLQJDOORZVWKHZLQGRZFUHDWLRQPHVVDJHV
WREHSURFHVVHG,QVWDQFHVXEFODVVLQJGRHVQRWKDYHWKLV DELOLW\
7RVHHKRZJOREDOVXEFODVVLQJGLIIHUVIURPLQVWDQFHVXEFODVVLQJZH OOH[DPLQHWKH
PRGLILFDWLRQVQHHGHGWRFKDQJHWKHSUHYLRXVLQVWDQFHVXEFODVVLQJH[DPSOHUROOLQJXSWKH
IRUPXVLQJWKHZLQGRZSURFHGXUHVKRZQLQ([DPSOH WRSHUIRUPJOREDOVXEFODVVLQJ
&KDQJHVWRWKH&ODVV 7KHRQO\UHDOFKDQJHWRWKHFODVVPRGXOHLVWKDW\RXPXVWVZDS6HW:LQGRZ/RQJ3WUIRUWKH
6HW&ODVV/RQJ3WU$3,IXQFWLRQ7KLVFKDQJHZLOOSURYLGHWKHOSIQ:QG3URFPHPEHURIWKHFODVV
VWUXFWXUHZLWKDSRLQWHUWRRXUQHZZLQGRZSURFHGXUH$ORQJZLWKXVLQJWKLVQHZ$3,IXQFWLRQ
WKHUHLVDOVRDQHZFRQVWDQW*&/3B&/6352&7KLVFRQVWDQWWHOOV6HW&ODVV/RQJ3WUWR
PRGLI\WKHOSIQ:QG3URFIXQFWLRQSRLQWHULQWKHFODVVVWUXFWXUHWRSRLQWWRDQHZZLQGRZ
SURFHGXUHWKDWZHGHILQH
7RFDOO6HW&ODVV/RQJ3WUZHQHHGWRUHSODFHWKHIROORZLQJGHFODUDWLRQVDQGFRQVWDQWV 3ULYDWH'HFODUH)XQFWLRQ6HW:LQGRZ/RQJ3WU/LEXVHU$OLDV6HW:LQGRZ/RQJ$B
%\9DOKZQG$V/RQJB
%\9DOGZ1HZ/RQJ$V/RQJ $V/RQJ
%\9DOQ,QGH[$V/RQJB
3ULYDWH&RQVW*:/3B:1'352&
ZLWKWKHVH
3ULYDWH'HFODUH)XQFWLRQ6HW&ODVV/RQJ3WU/LEXVHU$OLDV6HW&ODVV/RQJ$B
/RQJ
%\9DOKZQG$V/RQJ%\9DOQ,QGH[$V/RQJ%\9DOGZ1HZ/RQJ$V/RQJ $V
3ULYDWH&RQVW*&/3B&/6352&
,QDGGLWLRQ\RXPXVWFKDQJHWKH(QDEOH6XEFODVVIXQFWLRQLQRXUFODVVPRGXOHWRXVH
PBO2ULJ&ODVV3URF 6HW&ODVV/RQJ3WUPBKZQG*&/3B&/6352&B
$GGUHVV2I0RGXOH1HZ&ODVV3URF
LQVWHDGRI
PBO2ULJ&ODVV3URF 6HWZLQGRZORQJ3WUPBKZQG*:/3B:1'352&B
$GGUHVV2I0RGXOH1HZ:QG3URF
7KHVDPHPXVWEHGRQHIRUWKH'LVDEOH6XEFODVVIXQFWLRQ,WVKRXOGXVH
6HW&ODVV/RQJ3WUPBKZQG*&/3B&/6352&PBO2ULJ&ODVV3URF
LQVWHDGRI
6HW:LQGRZORQJ3WUPBKZQG*:/3B:1'352&PBO2ULJ&ODVV3URF
$GGLWLRQDOO\DOOUHIHUHQFHVWRWKHPBO2ULJ:QG3URFPHPEHUYDULDEOHVKRXOGEHFKDQJHGWR
PBO2ULJ&ODVV3URF
7KH6HW&ODVV/RQJ3WU$3,IXQFWLRQDOORZVXVWRPRGLI\WKHVWUXFWXUHRIDFODVVDVORQJDVZH
KDYHDKDQGOHWRWKHZLQGRZWKDWZDVFUHDWHGIURPWKLVFODVV7KLVPHDQVWKDWEHIRUHZHFDQ
JOREDOO\VXEFODVVDZLQGRZFODVVZHPXVWILUVWFUHDWHDQHZZLQGRZIURPWKDWFODVV7KH
ZLQGRZKDQGOHIURPWKLVZLQGRZLVXVHGLQWKHILUVWDUJXPHQWRIWKH6HW&ODVV/RQJ3WUIXQFWLRQ
7KLVH[DPSOHZLOOFUHDWHWKHZLQGRZEHIRUHJOREDOO\VXEFODVVLQJWKHFODVV8VXDOO\WKLV
ZLQGRZLVKLGGHQIURPWKHXVHUVRWKDWWKHXVHUGRHVQRWLQDGYHUWHQWO\FORVHWKHZLQGRZDQG
GHVWUR\LWVKDQGOH7KLVKDQGOHLVDOVRZKDWZHQHHGWRUHPRYHWKHJOREDOVXEFODVVLQJDQG
UHVWRUHWKHDSSOLFDWLRQWRLWVLQLWLDOVWDWH2WKHUZLVHWKHDSSOLFDWLRQZRXOGFUDVK
*OREDOVXEFODVVLQJUHTXLUHVWKDWDZLQGRZXVXDOO\KLGGHQ
LVFUHDWHGDQGLWVK:QGXVHGIRUJOREDOVXEFODVVLQJ7KLV ZLQGRZPXVWUHPDLQLQPHPRU\IRUWKHOLIHRIWKH
DSSOLFDWLRQ
$PLQRUPRGLILFDWLRQLVQHHGHGLQWKH'LVDEOH6XEFODVVIXQFWLRQ7KHPRGLILFDWLRQPLJKWVHHP
PLQRUEXWLWZLOOKDYHDELJLPSDFWRQZKHWKHUWKHH[DPSOHZLOOZRUN/RRNDWWKHIROORZLQJOLQH
LQWKH'LVDEOH6XEFODVVIXQFWLRQ PBO2ULJ&ODVV3URF
7KLVOLQHPXVWEHUHPRYHG,IWKHUHDVRQIRUWKLVLVQRWDSSDUHQWDWILUVWOHWPHH[SODLQ7KH
REMHFWFUHDWHGIURPWKH&6XEFODVVFODVVKROGVWKHZLQGRZKDQGOHPBKZQG RIWKHRULJLQDO
ZLQGRZZHFUHDWHGEHIRUHPRGLI\LQJWKHFODVV:HQHHGWRNHHSWKLVKDQGOHIRUWKHOLIHWLPHRI
WKHDSSOLFDWLRQ:HDOVRKDYHWKHSRLQWHUWRWKHRULJLQDOFODVVSURFHGXUHPBO2ULJ&ODVV3URF
ZKLFKZHQHHGWRNHHSIRUWKHOLIHWLPHRIWKHDSSOLFDWLRQ7KLVLVEHFDXVHZKHQZHPRGLI\D
FODVVWKURXJKJOREDOVXEFODVVLQJDQGWKHQFUHDWHQHZZLQGRZVIURPWKHPRGLILHGFODVVWKRVH
QHZZLQGRZVFDQH[LVWIRUWKHOLIHWLPHRIWKHDSSOLFDWLRQ
:KHQDPHVVDJHLVVHQWWRWKHJOREDOO\VXEFODVVHGZLQGRZWKDWZLQGRZZLOOORRNXSLWVRZQ
PRGLILHGZLQGRZSURFHGXUHDQGFDOOLW,QWKLVH[DPSOHWKDWZLQGRZSURFHGXUHZRXOGEHWKH
1HZ&ODVV3URFIXQFWLRQLQRXU%$6PRGXOH7KHSUREOHPGRHVQ WOLHKHUHWKRXJK,WOLHVDWWKH
HQGRIWKHZLQGRZSURFHGXUHZKHUHZHWU\WRFDOOWKHRULJLQDOFODVVSURFHGXUH5HPHPEHU WKHFODVVZDVVXEFODVVHGQRWWKHZLQGRZ
:KHQDZLQGRZLVFUHDWHGIURPWKHPRGLILHGFODVVWKHZLQGRZSURFHGXUHLWUHFHLYHVIURPWKH
FODVVLVFRQVLGHUHGWREHWKDWZLQGRZ VRULJLQDOZLQGRZSURFHGXUH,IZHKDGLQWHQWLRQDOO\
UHPRYHGWKHJOREDOVXEFODVVDQGWKHFRGHKDGVHWWKHPBO2ULJ&ODVV3URFYDULDEOHWRDVLW
ZRXOGLQLQVWDQFHVXEFODVVLQJ &DOO:LQGRZ3URFZRXOGWU\WRGHUHIHUHQFHD18//SRLQWHUWR
JHWWKHDGGUHVVRIWKHRULJLQDOZLQGRZSURFHGXUH
WKHJOREDOVXEFODVVLQJKDGEHHQUHPRYHGDOOZLQGRZVZRXOGVXGGHQO\UHYHUWWRFDOOLQJWKHLU
RULJLQDOZLQGRZSURFHGXUH7KLVLVQRWWKHFDVHEHFDXVHWKHOSIQ:QG3URFPHPEHURIWKH
ZLQGRZVWUXFWXUHRISUHH[LVWLQJZLQGRZVLVQRWPRGLILHGE\WKHFDOOWR6HW&ODVV/RQJ3WU
:KHQHYHUDPHVVDJHLVVHQWWRDJOREDOO\VXEFODVVHGZLQGRZLWVWLOOWULHVWRFDOORXU
1HZ&ODVV3URFIXQFWLRQDQGLQWXUQWKHRULJLQDOZLQGRZSURFHGXUHLQGLFDWHGE\
PBO2ULJ&ODVV3URF 7KLVLVLOOXVWUDWHGLQ)LJXUH7KLVGLDJUDPZLOOEHGLVFXVVHGLQPRUH GHWDLOODWHULQWKLVFKDSWHU
)LJXUH7KHOLIHWLPHRIWKHJOREDOO\VXEFODVVHGH[DPSOHDSSOLFDWLRQZKHUH:QG3URFLV
WKHZLQGRZSURFHGXUHRIWKHXQPRGLILHGFODVVDQG:QG3URFLVWKHZLQGRZSURFHGXUHRIWKH PRGLILHGFODVV
7KHVHDUHWKHRQO\PRGLILFDWLRQVWKDWZHZLOOPDNHWRWKLVFODVV
'RQRWORVHWKHK:QGDQGRULJLQDOZLQGRZSURFHGXUH
FRQWDLQHGLQWKH&6XEFODVVFODVVZKHQLPSOHPHQWLQJ JOREDOVXEFODVVLQJ
7KHILQDOFRGHIRUWKHFODVVLVVKRZQLQ([DPSOHZLWKUHYLVHGOLQHVLQEROGIDFH ([DPSOH0RGLILHG&6XEFODVVFOV0RGXOHIRUWKH*OREDO6XEFODVVLQJ([DPSOH ,I:LQ7KHQ
3ULYDWH'HFODUH)XQFWLRQ6HW:LQGRZ/RQJ3WU/LEXVHU$OLDV6HW:LQGRZ/RQJ$B
/RQJ $V/RQJ
%\9DOKZQG$V/RQJ%\9DOQ,QGH[$V/RQJ%\9DOGZ1HZ/RQJ$V
3ULYDWH'HFODUH)XQFWLRQ6HW&ODVV/RQJ3WU/LEXVHU$OLDV6HW&ODVV/RQJ$B
/RQJ $V/RQJ
%\9DOKZQG$V/RQJ%\9DOQ,QGH[$V/RQJ%\9DOGZ1HZ/RQJ$V
PBO2ULJ&ODVV3URF 6HW&ODVV/RQJ3WUPBKZQG*&/3B:1'352&B $GGUHVV2I0RGXOH1HZ&ODVV3URF 3ULYDWH&RQVW*:/3B86(5'$7$
3ULYDWH&RQVW*:/3B+:1'3$5(17
3ULYDWH&RQVW*&/3B0(181$0(
3ULYDWH&RQVW*&/3B+%5%$&.*5281' 3ULYDWH&RQVW*&/3B+&85625 3ULYDWH&RQVW*&/3B+,&2160
3ULYDWH&RQVW*&/3B+02'8/(
3ULYDWH&RQVW*&/3B:1'352& 3ULYDWH&RQVW':/3B06*5(68/7
3ULYDWH&RQVW':/3B'/*352&
3ULYDWH&RQVW':/3B86(5
(OVH,I1RW:LQ$QG1RW:LQ7KHQ
3ULYDWH'HFODUH)XQFWLRQ6HW:LQGRZ/RQJ3WU/LEXVHU$OLDV6HW:LQGRZ/RQJ3WU$B
%\9DOKZQG$V/RQJ%\9DOQ,QGH[$V/RQJ%\9DOGZ1HZ/RQJ$V/RQJ $V/RQJ
3ULYDWH'HFODUH)XQFWLRQ6HW&ODVV/RQJ3WU/LEXVHU$OLDV6HW&ODVV/RQJ3WU$B
%\9DOKZQG$V/RQJ%\9DOQ,QGH[$V/RQJ%\9DOGZ1HZ/RQJ$V/RQJ $V/RQJ
3ULYDWH&RQVW*:/3B+,167$1&( 3ULYDWH&RQVW*:/3B:1'352&
3ULYDWH&RQVW*:/3B86(5'$7$
3ULYDWH&RQVW*:/3B+:1'3$5(17
3ULYDWH&RQVW*:/3B,'
3ULYDWH&RQVW*&/3B0(181$0(
3ULYDWH&RQVW*&/3B+%5%$&.*5281' 3ULYDWH&RQVW*&/3B+&85625 3ULYDWH&RQVW*&/3B+,&2160
3ULYDWH&RQVW*&/3B+02'8/(
3ULYDWH&RQVW*&/3B:1'352& 3ULYDWH&RQVW':/3B06*5(68/7
3ULYDWH&RQVW':/3B'/*352&
3ULYDWH&RQVW':/3B86(5
(QG,I
3ULYDWHPBO2ULJ&ODVV3URF$V/RQJ
3ULYDWHPBKZQG$V/RQJ
3XEOLF3URSHUW\*HW2ULJ:QG3URF $V/RQJ
2ULJ:QG3URF PBO2ULJ&ODVV3URF (QG3URSHUW\
3XEOLF3URSHUW\/HWKZQG+DQGOH$V/RQJ
PBKZQG +DQGOH
(QG3URSHUW\
3ULYDWH6XE&ODVVB,QLWLDOL]H PBO2ULJ&ODVV3URF PBKZQG (QG6XE
3XEOLF)XQFWLRQ(QDEOH6XEFODVV $V%RROHDQ
,IPBO2ULJ&ODVV3URF!7KHQ $OUHDG\VXEFODVVHG
'RQRWDOORZWRVXEFODVVDQGWLPH (OVH
PBO2ULJ&ODVV3URF 6HW&ODVV/RQJ3WUPBKZQG*&/3B:1'352&$GGUHVV2I 0RGXOH
1HZ&ODVV3URF (QG,I
,IPBO2ULJ&ODVV3URF!7KHQ (QDEOH6XEFODVV 7UXH (OVH
(QDEOH6XEFODVV )DOVH (QG,I
(QG)XQFWLRQ
3XEOLF)XQFWLRQ'LVDEOH6XEFODVV $V%RROHDQ
5HPRYHJOREDOVXEFODVV
,IPBO2ULJ&ODVV3URF 7KHQ
'RQRWUHPRYHVXEFODVVQRQHH[LVW 'LVDEOH6XEFODVV )DOVH (OVH
6HW&ODVV/RQJ3WUPBKZQG*&/3B:1'352&PBO2ULJ&ODVV3URF
'21276(77+,672=(52$6:,7+,167$1&(68%&/$66,1*
25:(:,///26(2851(::,1352&
PBO2ULJ&ODVV3URF
'LVDEOH6XEFODVV 7UXH (QG,I
(QG)XQFWLRQ
3ULYDWH6XE&ODVVB7HUPLQDWH &DOO'LVDEOH6XEFODVV (QG6XE
&KDQJHVWRWKH%$60RGXOH 7KHVXEFODVVHGZLQGRZSURFHGXUHLQWKLVPRGXOHZLOOIRUFHHDFKJOREDOO\VXEFODVVHGZLQGRZ
WRUROOXSLQVWHDGRIPLQLPL]HWKLVLVVLPLODUWRWKHODVWH[DPSOHLQ6HFWLRQRIWKLVFKDSWHU 6RPHFRGHQHHGVWREHDGGHGWRWKLVVXEFODVVHGZLQGRZSURFHGXUHIRULWWRZRUNRQWKH
FRUUHFWZLQGRZ7KLVFRGHZLOOLWHUDWHWKURXJKHYHU\ZLQGRZEHORQJLQJWRWKLVDSSOLFDWLRQDQG
WU\WRILQGWKHZLQGRZKDQGOHWKDWPDWFKHVWKHRQHSDVVHGLQWRWKLVIXQFWLRQ7KLVZLOOEHWKH
ZLQGRZWKDWWKHVXEFODVVHGZLQGRZSURFHGXUHZLOORSHUDWHRQ7KHFRGHPRGLILFDWLRQLVDV
IROORZV
'LP,$V,QWHJHU
'LP)RFXV:LQGRZ$V/RQJ
)RFXV:LQGRZ
)RU, 7R)RUPV&RXQW
,I)RUPV, KZQG KZQG7KHQ
)RFXV:LQGRZ ,
([LW)RU (QG,I
1H[W,
*OREDOVXEFODVVLQJZLOODOORZPRUHWKDQRQHZLQGRZWRXVHWKHVDPHVXEFODVVHGZLQGRZ
SURFHGXUH7KLVFDQEHYHU\SRZHUIXOEHFDXVHLWDOORZVXVWRDGGIXQFWLRQDOLW\WRDQXPEHURI
VLPLODUZLQGRZVZLWKRXWKDYLQJWRZULWHVXEFODVVLQJFRGHIRUHDFKVHSDUDWHZLQGRZDVZH
ZRXOGZLWKLQVWDQFHVXEFODVVLQJ7KHSUREOHPLVWKDWDOOWKHZLQGRZVWKDWKDYHEHHQJOREDOO\
VXEFODVVHGZLOOXVHWKHVDPHZLQGRZSURFHGXUH1HZ&ODVV3URF 6RWKHWULFNLVWRGHWHUPLQH
ZKLFKZLQGRZWKHPHVVDJHLVERXQGIRU7KLVLVHDVLHUWKDQLWORRNV5HPHPEHUZHDUH
DOZD\VSDVVHGDK:QGZLQGRZKDQGOHLQRXUVXEFODVVHGZLQGRZSURFHGXUH:HFDQXVHWKH
KZQGDUJXPHQWWRVHWXSDORRSLWHUDWLQJWKURXJKHDFKZLQGRZRIWKHSURMHFWWRGHWHUPLQH
ZKLFKZLQGRZZHQHHGWRZRUNZLWKRIFRXUVHWKLVLVQRWWKHRSWLPDOVROXWLRQ:KHQHYHUZH
QHHGWRVHWWKHIRUPKHLJKWSURSHUW\RIWKLVZLQGRZIRUH[DPSOHZHFRXOGVLPSO\XVHWKH
IROORZLQJFRGH
)RUPV)RFXV:LQGRZ +HLJKW
7KHZLQGRZSURFHGXUHWKHQQHHGVWREHPRGLILHGVRWKDWZHSHUIRUPRXURSHUDWLRQVRQWKH
ZLQGRZLQWKH)RFXV:LQGRZRUGLQDOSRVLWLRQLQWKH)RUPVFROOHFWLRQ([DPSOHVKRZVWKH
FRPSOHWHZLQGRZSURFHGXUHZLWKUHYLVHGOLQHVLQGLFDWHGLQEROGIDFH
([DPSOH7KH:LQGRZ3URFHGXUHIRUWKH*OREDO6XEFODVVLQJ([DPSOH 3XEOLF)XQFWLRQ1HZ&ODVV3URF%\9DOKZQG$V/RQJ%\9DOX0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
'LP,$V,QWHJHU
'LP)RFXV:LQGRZ$V/RQJ
1HZ&ODVV3URF &DOO:LQGRZ3URF&6XE&OV$SS2ULJ:QG3URFKZQGX0VJB
Z3DUDPO3DUDP
)RU, 7R)RUPV&RXQW
,I)RUPV, KZQG KZQG7KHQ
)RFXV:LQGRZ ,
([LW)RU
(QG,I
1H[W,
0RGLI\WKHZLQGRZVGHIDXOWSURFHVVLQJLIQHFHVVDU\
,IX0VJ :0B6<6&200$1'$QG)RFXV:LQGRZ!7KHQ
,IZ3DUDP 6&B0,1,0,=(7KHQ
,I)RUPV)RFXV:LQGRZ :LQGRZ6WDWH!YE0D[LPL]HG7KHQ
'RQRWSURFHVVPHVVDJHLQVWHDGGRRXURZQZRUN
)RUPV)RFXV:LQGRZ +HLJKW
(QG,I
1HZ&ODVV3URF
(OVH
1HZ&ODVV3URF &DOO:LQGRZ3URF&6XE&OV$SS2ULJ:QG3URFKZQGX0VJB
Z3DUDPO3DUDP
(QG,I
(OVH
3DVVPHVVDJHWRGHIDXOWKDQGOHU
1HZ&ODVV3URF &DOO:LQGRZ3URF&6XE&OV$SS2ULJ:QG3URFKZQGX0VJB
Z3DUDPO3DUDP
(QG,I
(QG
)XQFWLRQ
$OOJOREDOO\VXEFODVVHGZLQGRZVZLOOFDOOWKHVDPH
VXEFODVVHGZLQGRZSURFHGXUHLQ\RXU%$6PRGXOH7KLV PHDQVWKDW\RXUZLQGRZSURFHGXUHPXVWEHDEOHWR
GHWHUPLQHZKLFKZLQGRZWKHPHVVDJHLVLQWHQGHGIRU
&KDQJHVWRWKH)RUP 7KHQXPEHURIFRGHFKDQJHVWKDWPXVWEHPDGHWRWKHIRUPDUHVXEVWDQWLDO0RVWQRWDEO\
WKHRUGHURIHYHQWVQHHGHGWRLQVWDOODQGXQLQVWDOOWKHJOREDOVXEFODVVPXVWEHFKDQJHG$OVR
WKHUHLVDQHZEXWWRQRQWKHIRUPFDOOHG&UHDWH:QG7KLVEXWWRQZLOOFUHDWHDIRUPZHXVH WKLVIRUP VKDQGOHWRLQLWLDWHJOREDOVXEFODVVLQJ7KHPDLQIRUPORRNVWKHVDPHDVWKHIRUP
XVHGLQWKHLQVWDQFHVXEFODVVLQJH[DPSOHVH[FHSWIRUWKHDGGLWLRQRIWKLVQHZEXWWRQ,Q
DGGLWLRQWRWKHVHFKDQJHVDEUDQGQHZIRUPQDPHGIUP*OREDO6XELVDGGHGWRWKHSURMHFW
7KLVQHZIRUPKDVQRFRGHDVVRFLDWHGZLWKLWDQGRQO\LWV&DSWLRQSURSHUW\LVFKDQJHGWR
UHDG*OREDOO\6XEFODVVHG)RUP7KLVQHZIRUPLVXVHGWRSURYLGHWKHK:QGWKDWLVXVHGLQ
WKHFDOOWR6HW&ODVV/RQJ3WU
([DPSOHVKRZVWKHFRGHEHKLQGWKHQHZEXWWRQZKLFKLVQDPHGFPG&UHDWH:QG7KLV
EXWWRQFOLFNHYHQWILUVWFUHDWHVDQHZIRUPIURPWKHIUP*OREDO6XEIRUPWKDWZDVDGGHGWRWKH
SURMHFW,QDUHDOOLIHDSSOLFDWLRQWKLVZLQGRZZRXOGEHKLGGHQIURPWKHXVHU1H[WDQ
LQVWDQFHRIWKH&6XEFODVVFODVVLVFUHDWHGDQGLQLWLDOL]HGZLWKWKHKDQGOHRIWKHZLQGRZMXVW
FUHDWHG)LQDOO\WKLVEXWWRQLVGLVDEOHG7KLVLVWRUHPRYHWKHXVHU VDELOLW\WRFUHDWHDQRWKHU
ZLQGRZDQGDQHZ&6XEFODVVREMHFW
([DPSOH7KH&UHDWH:QG%XWWRQ V&OLFN(YHQW3URFHGXUH 3ULYDWH6XEFPG&UHDWH:QGB&OLFN
&UHDWHQHZIRUP
&*6XE)RUP&DSWLRQ 2ULJLQDO:LQGRZ
'LP&*6XE)RUP$V1HZIUP*OREDO6XE
&*6XE)RUP9LVLEOH 7UXH
&UHDWHVXEFODVVLQJREMHFW
6HW&6XE&OV$SS 1HZ&6XEFODVV
&6XE&OV$SSKZQG &*6XE)RUPKZQG
'RQRWFUHDWHDVHFRQGLQVWDQFHZHZLOOORVHWKHRULJLQDOKZQG FPG&UHDWH:QG(QDEOHG )DOVH
(QG6XE
7KH&OLFNHYHQWSURFHGXUHIRUWKH6XEFODVVEXWWRQLVHQWLUHO\QHZLWLVVKRZQLQ([DPSOH
7KHFRGHFKHFNVWRPDNHVXUHWKDWDZLQGRZKDVEHHQFUHDWHGWKDWFDQEHXVHGWR
LQLWLDWHJOREDOVXEFODVVLQJ7KLVLVGRQHE\PDNLQJVXUHWKDWWKHFPG&UHDWH:QGEXWWRQKDV
EHHQGLVDEOHG,ILWKDVEHHQGLVDEOHGWKH(QDEOH6XEFODVVSXEOLFPHWKRGLQWKH&6XEFODVV
REMHFWLVFDOOHG7KLVPHWKRGZLOOXVH6HW&ODVV/RQJ3WUWRPRGLI\WKHOSIQ:QG3URFPHPEHURI
WKHFODVVVWUXFWXUH7KHODVWWKLQJWKLVPHWKRGGRHVLVFUHDWHDQHZIRUPXVLQJWKHPRGLILHG FODVV
([DPSOH7KHFPG6XEFODVVB&OLFN(YHQW3URFHGXUH 3ULYDWH6XEFPG6XEFODVVB&OLFN
'LP1HZ)RUP$VIUP*OREDO6XE
,IFPG&UHDWH:QG(QDEOHG )DOVH7KHQ
&DOO&6XE&OV$SS(QDEOH6XEFODVV
6HW1HZ)RUP 1HZIUP*OREDO6XE 1HZ)RUP6KRZ
(OVH
0VJ%R[&OLFNRQWKH &UHDWH:QG EXWWRQWRFUHDWHDZLQGRZWRVXEFODVV
(QG,I
(QG6XE
7KLVEXWWRQFDQEHFOLFNHGPXOWLSOHWLPHVWRFUHDWHPXOWLSOHJOREDOO\VXEFODVVHGZLQGRZV
ZLWKRXWFUDVKLQJWKHDSSOLFDWLRQ7KLVLVEHFDXVHWKH(QDEOH6XEFODVVPHWKRGZLOOFDOOWKH
6HW&ODVV/RQJ3WU$3,IXQFWLRQRQO\RQFH$IWHUWKLVPHWKRGKDVVXFFHVVIXOO\EHHQFDOOHGLW NQRZVQRWWRFDOO6HW&ODVV/RQJ3WUDVHFRQGWLPH&DOOLQJ6HW&ODVV/RQJ3WUDVHFRQGWLPH
ZRXOGFDXVHXVWRORVHWKHIXQFWLRQSRLQWHUPBO2ULJ&ODVV3URF WRWKHRULJLQDOZLQGRZ
SURFHGXUHLQWKHFODVV
7KH8Q6XEFODVVEXWWRQVWLOOFDOOVWKH'LVDEOH6XEFODVVSXEOLFPHWKRGRIWKH&6XEFODVVFODVV
7KHRQO\GLIIHUHQFHLVWKDWLWQRZFKHFNVWRVHHLIWKHFPG&UHDWH:QGEXWWRQKDVEHHQ
GLVDEOHGEHIRUHFDOOLQJWKH'LVDEOH6XEFODVVPHWKRG,WVVLQJOHOLQHRIFRGHWKHQDSSHDUVDV IROORZV
,I1RW0HFPG&UHDWH:QG(QDEOHG7KHQ&DOO&6XE&OV$SS'LVDEOH6XEFODVV $OOWKHFRGHLQWKH)RUPB/RDGHYHQWVKRXOGEHUHPRYHG
1H[WDGGWKHIROORZLQJFRGHEHIRUHWKHH[LVWLQJFRGHLQWKH)RUPB4XHU\8QORDGHYHQW
SURFHGXUH
5HPRYHDOOFKLOGZLQGRZVWRSUHYHQWD*3) 'LP,$V,QWHJHU
)RU, )RUPV&RXQW7R6WHS
,I)RUPV, &DSWLRQ!&KDSWHU6XEFODVVLQJ([DPSOH$QGB
(QG,I
)RUPV, &DSWLRQ!2ULJLQDO:LQGRZ7KHQ
8QORDG)RUPV,
1H[W,
7KLVHYHQWVWLOOGHVWUR\VWKH&6XE&OV$SSREMHFWEXWFHUWDLQSURFHVVLQJPXVWQRZKDSSHQ
EHIRUHDQGDIWHUWKH&6XE&OV$SSREMHFWGHVWUXFWLRQ%HIRUHWKHFODVVLVGHVWUR\HGDOOJOREDOO\
VXEFODVVHGZLQGRZVPXVWEHXQORDGHG7KLVFRGHGHVWUR\VRQO\WKHJOREDOO\VXEFODVVHG
ZLQGRZVGHVWUR\LQJDQ\RWKHUZLQGRZZRXOGFDXVHRXUDSSOLFDWLRQWRFUDVK%HFDXVHZH
NQRZZKDWWKHZLQGRZFDSWLRQVZLOOFRQWDLQLWLVDVLPSOHPDWWHURIORRSLQJWKURXJKDOOWKH
FXUUHQWZLQGRZVLQWKHDSSOLFDWLRQDQGRQO\XQORDGLQJWKHRQHVWKDWKDYHEHHQJOREDOO\
VXEFODVVHG:HGRQRWZDQWWRXQORDGWKHPDLQIRUPEHFDXVHLWLVDOUHDG\LQWKHSURFHVVRI
EHLQJXQORDGHG1HLWKHUGRZHZDQWWRXQORDGWKHRULJLQDOZLQGRZEHFDXVHDV,PHQWLRQHG
HDUOLHUZHZRXOGORVHRXUZLQGRZKDQGOHPBKZQG WKDWLVQHHGHGWRUHOHDVHWKHJOREDO
VXEFODVVLQJ
,QVWHDGRIXVLQJWKHIRUP VFDSWLRQWRGHWHUPLQHLIWKHZLQGRZKDVEHHQJOREDOO\VXEFODVVHG
\RXPLJKWZDQWWRVWRUHDQDUUD\RIZLQGRZKDQGOHV
XQORDGHDFKZLQGRZLQWKHDUUD\:KHQXVLQJWKLVPHWKRGPDNHDEVROXWHO\FHUWDLQWKDW\RX
XQORDGHYHU\JOREDOO\VXEFODVVHGZLQGRZRU\RXUDSSOLFDWLRQFRXOGFUDVK
$IWHUWKHFODVVKDVEHHQGHVWUR\HGWKHRULJLQDOZLQGRZFDQEHGHVWUR\HG7KHIROORZLQJ
FRGHZKLFKVKRXOGEHDGGHGWRWKHHQGRIWKH)RUPB4XHU\8QORDGSURFHGXUHGRHVMXVWWKDW
5HPRYHWKHRULJLQDOZLQGRZWRFOHDQXS )RU, )RUPV&RXQW7R6WHS
,I)RUPV, &DSWLRQ 2ULJLQDO:LQGRZ7KHQ
(QG,I
8QORDG)RUPV,
1H[W,
8QORDGDOOJOREDOO\VXEFODVVHGIRUPVEHIRUHGHVWUR\LQJWKH
&6XEFODVVREMHFW8QORDGWKHRULJLQDOZLQGRZWKDWLVXVHGWR JHWWKHK:QGWRLQLWLDWHJOREDOVXEFODVVLQJRQO\DIWHU
GHVWUR\LQJWKH&6XEFODVVREMHFW
([DPSOHVKRZVWKHFRPSOHWHZLQGRZSURFHGXUHZLWKUHYLVHGOLQHVLQGLFDWHGLQEROGIDFH ([DPSOH7KH0RGLILHGIUP&KIUP0RGXOHIRUWKH*OREDO6XEFODVVLQJ([DPSOH 3ULYDWH6XEFPG&UHDWH:QGB&OLFN &UHDWHQHZIRUP
'LP&*6XE)RUP$V1HZIUP*OREDO6XE
&*6XE)RUP&DSWLRQ 2ULJLQDO:LQGRZ &*6XE)RUP9LVLEOH 7UXH
&UHDWHVXEFODVVLQJREMHFW
6HW&6XE&OV$SS 1HZ&6XEFODVV
&6XE&OV$SSKZQG &*6XE)RUPKZQG
'RQRWFUHDWHDVHFRQGLQVWDQFHZHZLOOORVHWKHRULJLQDOKZQG
FPG&UHDWH:QG(QDEOHG )DOVH
(QG6XE
3ULYDWH6XEFPG6XEFODVVB&OLFN
,IFPG&UHDWH:QG(QDEOHG )DOVH7KHQ
&DOO&6XE&OV$SS(QDEOH6XEFODVV
6HW1HZ)RUP 1HZIUP*OREDO6XE
1HZ)RUP6KRZ
(OVH
0VJ%R[&OLFNRQWKH &UHDWH:QG EXWWRQWRFUHDWHDZLQGRZWRVXEFODVV
(QG,I
(QG6XE
3ULYDWH6XEFPG8Q6XEFODVVB&OLFN
,IFPG&UHDWH:QG(QDEOHG )DOVH7KHQ
&DOO&6XE&OV$SS'LVDEOH6XEFODVV
(OVH
0VJ%R[&OLFNRQWKH &UHDWH:QG EXWWRQWRFUHDWHDZLQGRZWRVXEFODVV (QG,I
(QG6XE
3ULYDWH6XE)RUPB4XHU\8QORDG&DQFHO$V,QWHJHU8QORDG0RGH$V,QWHJHU
5HPRYHDOOFKLOGZLQGRZVWRSUHYHQWD*3) 'LP,$V,QWHJHU
)RU, )RUPV&RXQW7R6WHS
,I)RUPV, &DSWLRQ!&KDSWHU6XEFODVVLQJ([DPSOHB
$QG)RUPV, &DSWLRQ!2ULJLQDO:LQGRZ7KHQ
8QORDG)RUPV, (QG,I 1H[W,
0DNHVXUHFODVVLVGHVWUR\HGKHUH 6HW&6XE&OV$SS 1RWKLQJ
5HPRYHWKHRULJLQDOZLQGRZWRFOHDQXS
)RU, )RUPV&RXQW7R6WHS
,I)RUPV, &DSWLRQ 2ULJLQDO:LQGRZ7KHQ 8QORDG)RUPV, (QG,I 1H[W,
(QG6XE
4XLWHDIHZFRGHFKDQJHVDQGDGGLWLRQVZHUHPDGHWRWKHIRUPPRGXOHEXWJOREDO
VXEFODVVLQJGRHVRSHUDWHDELWGLIIHUHQWO\WKDQLQVWDQFHVXEFODVVLQJ
+RZ,W$OO:RUNV :KHQ\RXUXQWKLVFRGHWKHJOREDOVXEFODVVLQJDSSOLFDWLRQLVHDV\WRXVHKHUHDUHWKHVWHSV
\RXIROORZWRXVHWKLVDSSOLFDWLRQ
&OLFNWKH&UHDWH:QGEXWWRQ
&OLFNWKH6XEFODVVEXWWRQ7KLVEXWWRQFDQEHFOLFNHGPXOWLSOHWLPHVWRFUHDWHJOREDOO\ VXEFODVVHGZLQGRZV
&ORVLQJWKHDSSOLFDWLRQFDQEHGRQHLQRQHRIWZRZD\V
D &OLFNWKH8Q6XEFODVVEXWWRQDQGWKHQFORVHWKHDSSOLFDWLRQ
E &ORVHWKHDSSOLFDWLRQZLWKRXWFOLFNLQJWKH8Q6XEFODVVEXWWRQ :KHQ\RXFOLFNWKH&UHDWH:QGEXWWRQDQHZZLQGRZLVFUHDWHGZLWKWKHFDSWLRQ2ULJLQDO
:LQGRZ7KLVZLQGRZ VKDQGOHLVQHHGHGE\6HW&ODVV/RQJ3WUWRLQLWLDWHJOREDOVXEFODVVLQJ
7KLVLVDOVRWKHZLQGRZWKDWLVXVXDOO\KLGGHQIURPWKHXVHU1RZWKHDSSOLFDWLRQKDVDOOWKH LQIRUPDWLRQLWQHHGVIRUJOREDOVXEFODVVLQJ
:KHQWKHXVHUFOLFNVWKH6XEFODVVEXWWRQDQHZZLQGRZLVFUHDWHGDQGGLVSOD\HG7KLV
ZLQGRZKDVWKHFDSWLRQ*OREDOO\6XEFODVVHG)RUP+HUH VWKHLQWHUHVWLQJSDUW:KHQ\RX
FOLFNWKH0LQLPL]HEXWWRQRQWKHWLWOHEDURIWKHZLQGRZZLWKWKHFDSWLRQ2ULJLQDO:LQGRZWKH
ZLQGRZLVPLQLPL]HGDVLWQRUPDOO\ZRXOGEH:KHQ\RXFOLFNWKH0LQLPL]HEXWWRQIRUWKH
ZLQGRZZLWKWKHFDSWLRQ*OREDOO\6XEFODVVHG)RUPWKHIRUPUROOVXSLQVWHDGRIEHLQJ
PLQLPL]HG7KDW VQRWDOO,I\RXFOLFNWKH6XEFODVVEXWWRQUHSHDWHGO\QHZZLQGRZVZLOOEH
GLVSOD\HGZLWKWKHFDSWLRQ*OREDOO\6XEFODVVHG)RUP(DFKQHZZLQGRZZLOODOVRUROOXS
ZKHQWKH0LQLPL]HEXWWRQLVFOLFNHG
,QVWHDGRISHUIRUPLQJLQVWDQFHVXEFODVVLQJRQHDFKZLQGRZVHSDUDWHO\ZKLFKZRXOGEHDORW
RIZRUNZHKDYHDOWHUHGWKHEDVHIXQFWLRQDOLW\RIHYHU\ZLQGRZWRVXLWRXUQHHGV&OLFNLQJWKH
8Q6XEFODVVEXWWRQDQGFORVLQJWKHDSSOLFDWLRQZLOOGHVWUR\DOOWKHFUHDWHGZLQGRZVDQG
UHVWRUHWKHRULJLQDOOSIQ:QG3URFIXQFWLRQSRLQWHULQWKHIRUPZLQGRZFODVV
1RZWKDW\RXNQRZKRZWRXVHWKLVH[DPSOHDSSOLFDWLRQOHW VWDNHDORRNDWZKDWLVJRLQJRQ
EHKLQGWKHVFHQHV1RWKLQJRIUHDOLQWHUHVWKDSSHQVZKHQWKHDSSOLFDWLRQLVILUVWVWDUWHG
&OLFNLQJWKH&UHDWH:QGEXWWRQRQO\VHWVXSWKHDSSOLFDWLRQIRUJOREDOVXEFODVVLQJ$WWKLV
SRLQWQRVXEFODVVLQJRIDQ\NLQGKDVRFFXUUHG7KHDSSOLFDWLRQZLOOEHGLVSOD\HGRQWKH
VFUHHQVLPLODUWR)LJXUH
)LJXUH6FUHHQVKRWRIWKHH[DPSOHDSSOLFDWLRQDIWHUFOLFNLQJWKH&UHDWH:QGEXWWRQ
1RWKLQJPXFKKDVKDSSHQHGVRIDU1HLWKHUZLQGRZKDVEHHQPRGLILHGVRWKH\HDFKZLOOXVH
WKHLURZQGHIDXOWZLQGRZSURFHGXUH7KHVWDWHRIWKHDSSOLFDWLRQFDQEHVHHQLQ)LJXUH )LJXUH6WDWHRIWKHDSSOLFDWLRQDIWHUFOLFNLQJWKH&UHDWH:QGEXWWRQ
7KHQH[WVWHSLVWRFOLFNWKH6XEFODVVEXWWRQ7KLVFUHDWHVDQHZZLQGRZDQGWKHDSSOLFDWLRQ
QRZDSSHDUVDVLQ)LJXUH
)LJXUH6FUHHQVKRWRIWKHH[DPSOHDSSOLFDWLRQDIWHUFOLFNLQJWKH6XEFODVVEXWWRQ
7KHFRGHIRUWKH6XEFODVVEXWWRQFDOOVWKH(QDEOH6XEFODVVSXEOLFPHWKRGRIWKH&6XEFODVV
FODVV7KH(QDEOH6XEFODVVPHWKRGZLOOXVH6HW&ODVV/RQJ3WUWRPRGLI\WKHFODVVWKDWZDV
XVHGWRFUHDWHWKHRULJLQDOZLQGRZIURPKHUHRQRXWZKHQ,XVHWKHWHUPRULJLQDOZLQGRZ,
DPUHIHUULQJWRWKHZLQGRZZLWKWKHFDSWLRQ2ULJLQDO:LQGRZ 7KHFODVVWKDWWKLVIXQFWLRQ
PRGLILHVLV7KXQGHU57)RUP'&7KH6HW&ODVV/RQJ3WU$3,IXQFWLRQUHTXLUHVDZLQGRZ
KDQGOHPBKZQG WRPRGLI\WKHIXQFWLRQSRLQWHUWRWKHFODVVZLQGRZSURFHGXUH7KLVZLQGRZ
KDQGOHPXVWEHWDNHQIURPDZLQGRZFUHDWHGIURPWKHFODVVWKDWZHZDQWWRJOREDOO\VXEFODVV
$IWHUFDOOLQJ6HW&ODVV/RQJ3WUWKHFODVV OSIQ:QG3URFIXQFWLRQSRLQWHUWRLWVZLQGRZ
SURFHGXUHLVQRZSRLQWLQJWRRXUQHZVXEFODVVHGZLQGRZSURFHGXUH1HZ&ODVV3URF$VZLWK
LQVWDQFHVXEFODVVLQJZHUHWDLQWKHRULJLQDOZLQGRZSURFHGXUHLQWKHPBO2ULJ&ODVV3URF
PHPEHUYDULDEOHVRWKDWZHFDQUHVWRUHWKHFODVVWRLWVRULJLQDOVWDWH
%HFDXVHWKHFODVVZDVJOREDOO\VXEFODVVHGDIWHUWKHRULJLQDOZLQGRZZDVFUHDWHGWKHRULJLQDO
ZLQGRZZLOOFRQWLQXHXVLQJWKHSRLQWHUWRWKHFODVV VRULJLQDOZLQGRZSURFHGXUHWKLVLVWKH
VDPHSRLQWHUWKDWLVFRQWDLQHGLQWKHPBO2ULJ&ODVV3URFPHPEHUYDULDEOH :KHQWKHRULJLQDO
ZLQGRZZDVFUHDWHGWKHFODVVLQIRUPDWLRQXVHGWRFUHDWHWKLVZLQGRZZDVFRSLHGLQWRWKH
ZLQGRZVWUXFWXUH7KHSRLQWHUWRWKLVZLQGRZ VZLQGRZSURFHGXUHLVQRORQJHUWLHGWRWKH
FODVV VZLQGRZSURFHGXUH7KHUHIRUHLWUHPDLQVXQFKDQJHG
7KHVHFRQGWKLQJWKDWWKH6XEFODVVEXWWRQGRHVLVFUHDWHDQHZZLQGRZIURPWKHVDPHIRUP
REMHFWIURPZKLFKWKHRULJLQDOZLQGRZZDVFUHDWHG7KLVQHZZLQGRZXVHVWKHIXQFWLRQ
SRLQWHUWRWKHZLQGRZSURFHGXUHWKDWLVQRZFRQWDLQHGLQWKHPRGLILHGFODVV7KHUHIRUHZKHQ
\RXFOLFNWKH0LQLPL]HEXWWRQIRUWKHRULJLQDOZLQGRZWKHZLQGRZLVDFWXDOO\PLQLPL]HGWKH
ZD\:LQGRZVLQWHQGHGDQGZKHQ\RXFOLFNWKH0LQLPL]HEXWWRQRIWKHQHZZLQGRZLWUROOVXS
LQVWHDGRIPLQLPL]HV)LJXUHVKRZVWKHVWDWHRIWKHDSSOLFDWLRQDWWKLVSRLQW
)LJXUH6WDWHRIWKHDSSOLFDWLRQDIWHUFOLFNLQJWKH6XEFODVVEXWWRQ
(DFKWLPHWKH6XEFODVVEXWWRQLVFOLFNHGDQHZZLQGRZLVFUHDWHG7KLVQHZZLQGRZZLOOXVH
WKHVDPHFODVVWKDWZHSUHYLRXVO\PRGLILHG7KHUHIRUHHDFKQHZZLQGRZZLOOUROOXSDVZHOO
7KHQH[WVWHSLVWRFOLFNWKH8Q6XEFODVVEXWWRQ7KHVFUHHQVKRXOGORRNVRPHWKLQJVLPLODUWR
)LJXUH7KHFRGHEHKLQGWKLVEXWWRQFDOOVWKH'LVDEOH6XEFODVVSXEOLFPHPEHUIXQFWLRQRI
WKH&6XEFODVVFODVV7KHRQO\DFWLRQ'LVDEOH6XEFODVVSHUIRUPVLVWRFDOO6HW&ODVV/RQJ3WU
ZKLFKUHPRYHVWKHJOREDOVXEFODVV,I\RXREVHUYHWKHIXQFWLRQDOLW\RIHDFKFUHDWHGZLQGRZ
\RXZLOOQRWLFHWKDWWKHZD\WKH\IXQFWLRQKDVQRWFKDQJHGHYHQWKRXJKWKHJOREDOVXEFODVV
KDVEHHQUHPRYHG7KLVLVEHFDXVHRQO\WKHFODVVVWUXFWXUHKDVFKDQJHGQRWWKHZLQGRZ
VWUXFWXUHRIHDFKH[LVWLQJZLQGRZ,I\RXPLQLPL]HWKHRULJLQDOZLQGRZLWVWLOOZRUNVWKHZD\
WKH:LQGRZVRSHUDWLQJV\VWHPLQWHQGHGLWWRZRUN(DFKQHZZLQGRZFUHDWHGDIWHUWKH
6XEFODVVEXWWRQZDVFOLFNHGUHWDLQVWKHUROOXSIXQFWLRQDOLW\
*OREDOVXEFODVVLQJDIIHFWVWKHFODVVVWUXFWXUHQRWWKH
ZLQGRZVWUXFWXUHRIH[LVWLQJZLQGRZV
)LJXUH6FUHHQVKRWRIWKHDSSOLFDWLRQDIWHUFOLFNLQJWKH8Q6XEFODVVEXWWRQ
7KHUHLVQRUHDVRQIRUWKLVDSSOLFDWLRQWRFUDVKDWWKLVSRLQW7KHVXEFODVVHGZLQGRZ
SURFHGXUH1HZ&ODVV3URFLVVWLOODYDLODEOHDWWKHVDPHORFDWLRQ7KHUHIRUHQRIXQFWLRQ
SRLQWHUVDUHSRLQWLQJWRLQYDOLGPHPRU\ORFDWLRQV:HVWLOOKDYHWKHPHPEHUYDULDEOHWKDW
FRQWDLQVWKHRULJLQDOFODVV VZLQGRZSURFHGXUHPBO2ULJ&ODVV3URF 7KDWZD\ZKHQRXU VXEFODVVHGZLQGRZSURFHGXUH1HZ&ODVV3URFFDOOV&DOO:LQGRZ3URFWRSDVVRQWKH
PHVVDJHDYDOLGZLQGRZSURFHGXUHLVIRXQG7KHPRGLILHGZLQGRZFODVVKDVEHHQFKDQJHG
EDFNWRXVHLWVRULJLQDOFODVVZLQGRZSURFHGXUHZKLFKLVDOVRVWLOOYDOLG
7KHLQWHUHVWLQJWKLQJWRGRQRZLVFOLFNWKH6XEFODVVEXWWRQDJDLQ%HFDXVHWKH
PBO2ULJ&ODVV3URFPHPEHUYDULDEOHVWLOOFRQWDLQVWKHFODVV VRULJLQDOZLQGRZSURFHGXUHWKH
FRGHZLOOQRWDOORZ6HW&ODVV/RQJ3WUWREHFDOOHGDVHFRQGWLPH7KLVZD\ZHDUHDVVXUHGRI
QRWORVLQJWKHRULJLQDOFODVV VZLQGRZSURFHGXUH$IWHUE\SDVVLQJWKHFDOOWRVHWDQRWKHUJOREDO
VXEFODVVWKHFRGHFUHDWHVDQHZZLQGRZ7KLVZLQGRZLQKHULWVLWVSURSHUWLHVIURPWKH
UHVWRUHGZLQGRZFODVVZKLFKQRZKDVLWVRULJLQDOFODVVZLQGRZSURFHGXUH7KHQHZO\FUHDWHG
ZLQGRZXVHVWKLVZLQGRZSURFHGXUHDVLWVGHIDXOW&OLFNLQJWKH0LQLPL]HEXWWRQRIWKLVQHZ
ZLQGRZZLOOPLQLPL]HLWWKHZD\:LQGRZVLQWHQGHGLWWREHPLQLPL]HG7KLVLVVKRZQLQ)LJXUH
)LJXUH6WDWHRIWKHDSSOLFDWLRQDIWHUFOLFNLQJWKH8Q6XEFODVVEXWWRQWKH*OREDOO\ 6XEFODVVHG:LQGRZLVFUHDWHGDIWHUUHPRYLQJWKHJOREDOVXEFODVVZLWKWKH
6HW&ODVV/RQJ3WU$3,IXQFWLRQQRWLFHWKDWLWXVHVWKHXQPRGLILHGFODVV VZLQGRZSURFHGXUHDV LWVRZQ
,WLVDOVRLPSRUWDQWWRQRWHWKDWLIWKHDSSOLFDWLRQLVFORVHGEHIRUHWKHJOREDOVXEFODVVLV
UHPRYHGWKH&6XEFODVVFODVVZLOODXWRPDWLFDOO\UHPRYHWKHJOREDOVXEFODVVZKHQWKHFODVVLV
GHVWUR\HG7KLVSUHYHQWVRXUDSSOLFDWLRQIURPFUDVKLQJ
%HKLQGWKH6FHQHVZLWK6S\ 7RVHHKRZWKLVDSSOLFDWLRQZRUNVIURPWKHLQVLGHOHW VXVHWKH6S\XWLOLW\WRVS\RQWKH
JOREDOVXEFODVVLQJH[DPSOH)RUWKLVSXUSRVH\RXVKRXOGXVHWKHDSSOLFDWLRQ VFRPSLOHG
(;(UDWKHUWKDQUXQQLQJLWIURPWKHGHYHORSPHQWHQYLURQPHQW7KHLQIRUPDWLRQWKDW\RXVHH
LQ6S\IRUDQDSSOLFDWLRQWKDWLVUXQQLQJLQWKHGHYHORSPHQWHQYLURQPHQWPRVWOLNHO\ZLOOQRW
EHFRUUHFWEHFDXVHRIWKHZD\9%KDQGOHVWKH$GGUHVV2IRSHUDWRUZKLOHUXQQLQJDQ
DSSOLFDWLRQLQWKH,'(1RWHWKRXJKWKDWZKHQUXQQLQJWKLVH[DPSOHRQ\RXUFRPSXWHU\RX
ZLOOQRWVHHWKHPHPRU\DGGUHVVHVDQGKDQGOHVWKDW,XVHKHUH,DPXVLQJWKHVHYDOXHVWR
VKRZ\RXWKHUHODWLRQVKLSVEHWZHHQFODVVHVDQGWKHLUZLQGRZV
)LUVWOHW VVWDUWXSWKHJOREDOVXEFODVVLQJH[DPSOHDQGWKHQUXQ6S\9LHZWKHDSSOLFDWLRQ V
ZLQGRZVE\VHOHFWLQJWKH6S\
:LQGRZVPHQXLWHPRUE\SUHVVLQJ&WUO:)LQGWKHOLQH
ZKLFKKDVWKHZLQGRZFDSWLRQIROORZHGE\WKHZRUG7KXQGHU570DLQLH&KDSWHU
6XEFODVVLQJ([DPSOH7KXQGHU570DLQ ,ZLOOUHIHUWRWKLVZLQGRZDVWKHPDLQIRUP$WWKLV
SRLQWWKHPDLQZLQGRZLVGLVSOD\HGDQGWKHLQIRUPDWLRQZHJDWKHUIURPWKH*HQHUDODQG
&ODVVWDEVRIWKH:LQGRZV3URSHUWLHVGLDORJER[LVDVIROORZV
:LQGRZ&DSWLRQ &KDSWHU6XEFODVVLQJ([DPSOH
K:QG
:QG3URF ))&%
&ODVV1DPH 7KXQGHU57)RUP'&
&ODVV:QG3URF ))&%
$ZLQGRZKDVEHHQFUHDWHGDQGGLVSOD\HGWKDWLVDERXWLW1H[WFOLFNWKH&UHDWH:QGEXWWRQ
RQWKHPDLQIRUPWKHQVZLWFKWR6S\DQGSUHVV)WRUHIUHVKWKH6S\GLVSOD\$QHZ
ZLQGRZLVGLVSOD\HGZLWKWKHIROORZLQJDWWULEXWHV
:LQGRZ&DSWLRQ 2ULJLQDO:LQGRZ K:QG
:QG3URF ))&%
&ODVV1DPH 7KXQGHU57)RUP'&
&ODVV:QG3URF ))&%
7KHPDLQZLQGRZ VDWWULEXWHVUHPDLQWKHVDPHDVEHIRUH\RXFOLFNHGWKH&UHDWH:QGEXWWRQ
1RZHYHU\WKLQJLVLQSODFHIRUXVWRVXFFHVVIXOO\SHUIRUPJOREDOVXEFODVVLQJ+HUHFRPHVWKH
LQWHUHVWLQJSDUW&OLFNWKH6XEFODVVEXWWRQRQWKHPDLQIRUP1RZOHW VWDNHDORRNDWWKH
DWWULEXWHVRIDOOWKUHHZLQGRZV
:LQGRZ&DSWLRQ &KDSWHU6XEFODVVLQJ([DPSOH
K:QG
:QG3URF ))&%
&ODVV1DPH 7KXQGHU57)RUP'&
&ODVV:QG3URF &
:LQGRZ&DSWLRQ 2ULJLQDO:LQGRZ K:QG
:QG3URF ))&%
&ODVV1DPH 7KXQGHU57)RUP'&
&ODVV:QG3URF &
:LQGRZ&DSWLRQ *OREDOO\6XEFODVVHG)RUP K:QG '(
:QG3URF &
&ODVV1DPH 7KXQGHU57)RUP'& &ODVV:QG3URF &
$V\RXPLJKWQRWLFHWKH&ODVV:QG3URFILHOGFKDQJHGIURP))&%WR&7KLV ILHOGZDVFKDQJHGWKURXJKWKH6HW&ODVV/RQJ3WUIXQFWLRQ7KLV&ODVV:QG3URFILHOGLVWKH
VDPHIRUDOOZLQGRZV7KLVLVFRUUHFWEHFDXVHWKHFODVVLQIRUPDWLRQLVVWRUHGVHSDUDWHO\IURP
WKHZLQGRZLQIRUPDWLRQ%\ORRNLQJDWWKLVLQIRUPDWLRQ\RXFDQVHHWKDWWKHILUVWWZRZLQGRZV
WKDWZHUHFUHDWHGUHPDLQHGXQFKDQJHGWKH\FRQWLQXHWRXVHWKHLUROGZLQGRZSURFHGXUHV
7KHWKLUGZLQGRZLVXVLQJWKHQHZZLQGRZSURFHGXUH:QG3URF IURPWKH
7KXQGHU57)RUP'&FODVV7KLVLVEHFDXVHWKHILUVWWZRZLQGRZVZHUHFUHDWHGXVLQJWKH
RULJLQDOFODVVLQIRUPDWLRQZKLOHWKHWKLUGZLQGRZZDVFUHDWHGDIWHUZHPRGLILHGWKHFODVV V
ZLQGRZSURFHGXUH,IZHFUHDWHPRUHJOREDOVXEFODVVHGZLQGRZVWKHLULQIRUPDWLRQLVWKH
VDPHDVWKHZLQGRZZLWKWKHFDSWLRQ*OREDOO\6XEFODVVHG)RUPH[FHSWRIFRXUVHIRUWKH
ZLQGRZKDQGOHZKLFKPXVWEHXQLTXHIRUDOOZLQGRZV
1RZFOLFNWKH8Q6XEFODVVEXWWRQRQWKHPDLQIRUP6ZLWFKWR6S\SUHVV)WRUHIUHVKLWV
GLVSOD\DQGQRZYLHZHDFKZLQGRZ VLQIRUPDWLRQ7KHQHZZLQGRZLQIRUPDWLRQLVDVIROORZV
:LQGRZ&DSWLRQ &KDSWHU6XEFODVVLQJ([DPSOH
K:QG
:QG3URF ))&%
&ODVV1DPH 7KXQGHU57)RUP'&
&ODVV:QG3URF ))&%
:LQGRZ&DSWLRQ 2ULJLQDO:LQGRZ K:QG
:QG3URF ))&%
&ODVV1DPH 7KXQGHU57)RUP'&
&ODVV:QG3URF ))&%
:LQGRZ&DSWLRQ *OREDOO\6XEFODVVHG)RUP K:QG '(
:QG3URF &
&ODVV1DPH 7KXQGHU57)RUP'& &ODVV:QG3URF ))&%
7KHFODVV VZLQGRZSURFHGXUHKDVEHHQFKDQJHGEDFNWRLWVRULJLQDOYDOXH7KLVYDOXHZDV
NHSWLQWKHPBO2ULJ&ODVV3URFPHPEHUYDULDEOHLQWKH&6XEFODVVFODVV(YHQWKRXJKWKH
FODVV VZLQGRZSURFHGXUHLVFKDQJHGEDFNHDFKZLQGRZ VZLQGRZSURFHGXUHUHPDLQVDVLW
ZDVEHIRUHFOLFNLQJWKH8Q6XEFODVVEXWWRQ(YHU\ZLQGRZZKRVH:QG3URFILHOGSRLQWVWRWKH
RULJLQDOZLQGRZSURFHGXUHZLOODFWOLNHDQRUPDOZLQGRZ(YHU\ZLQGRZZKRVH:QG3URFILHOG
SRLQWVWRWKHQHZZLQGRZSURFHGXUHWKDWZHFUHDWHGZLOOXVHRXUPRGLILHGIXQFWLRQDOLW\
+HUHLVWKHWULFN\SDUWZKLFKFDQEULQJ\RXUDSSOLFDWLRQFUDVKLQJGRZQDURXQG\RXLI\RXDUH
QRWFDUHIXOEHFDXVHHDFKZLQGRZ VZLQGRZSURFHGXUHUHPDLQVWKHVDPHVXEFODVVHG
ZLQGRZVZLOOVWLOOFDOOWKHJOREDOO\VXEFODVVHGZLQGRZSURFHGXUH1HZ&ODVV3URF7KH
1HZ&ODVV3URFZLQGRZSURFHGXUHVWLOOQHHGVWRNQRZWKHRULJLQDOZLQGRZSURFHGXUHWRFDOO
ZKHQHYHULWUHFHLYHVDPHVVDJH,IZHJHWULGRIWKHYDOXHLQWKHPBO2ULJ&ODVV3URFPHPEHU
YDULDEOHWKHDSSOLFDWLRQZLOOFUDVKEHFDXVHPBO2ULJ&ODVV3URFZRXOGWKHQSRLQWWRDQLQYDOLG
ORFDWLRQLQPHPRU\6RZHQHHGWRSURWHFWWKHPBO2ULJ&ODVV3URFPHPEHUYDULDEOHIURP EHLQJPRGLILHGLQDQ\ZD\
:KDWKDSSHQVLIWKH6XEFODVVEXWWRQLVFOLFNHGDWWKLVSRLQW",IZHFOLFNLWDQHZZLQGRZ
DSSHDUVZLWKWKHFDSWLRQ*OREDOO\6XEFODVVHG)RUP7KLVIRUPKDVWKHIROORZLQJDWWULEXWHV
:LQGRZ&DSWLRQ *OREDOO\6XEFODVVHG)RUP K:QG %(&
:QG3URF ))&%
&ODVV1DPH 7KXQGHU57)RUP'&
&ODVV:QG3URF ))&%
7KHH[DPSOHFRGHE\SDVVHVWKHFDOOWR6HW&ODVV/RQJ3WUDQGLQVWHDGFUHDWHVDZLQGRZIURP
WKHFXUUHQW7KXQGHU57)RUP'&FODVV7KLVZLQGRZZLOOQRWKDYHWKHPRGLILHGZLQGRZ
EHKDYLRUQRWLFHWKHYDOXHIRUWKH:QG3URFILHOG
6XPPDU\RI.H\3RLQWVLQ6XEFODVVLQJ 7KLVFKDSWHUSUHVHQWHGDJUHDWGHDORILQIRUPDWLRQDERXWVXEFODVVLQJ%HIRUHSURFHHGLQJRQ
WRWKHIROORZLQJFKDSWHUVPDNHVXUHWKDW\RXKDYHDVROLGJUDVSRIWKHFRQFHSWVSUHVHQWHGLQ
WKLVFKDSWHU7KHVHFRQFHSWVZLOOEHXVHGWKURXJKRXWWKHUHVWRIWKHERRN7RKHOSZLWKWKLV WKHIROORZLQJLVDOLVWRINH\SRLQWVPHQWLRQHGLQWKHFRXUVHRIWKLVFKDSWHU • • • • • • •
8VH2Q(UURU5HVXPH1H[WIRUHUURUKDQGOLQJLQWKHVXEFODVVHGZLQGRZSURFHGXUH
'RDVOLWWOHZRUNDVSRVVLEOHLQWKHVXEFODVVHGZLQGRZSURFHGXUH
6WHSSLQJWKURXJKDVXEFODVVLQJDSSOLFDWLRQLQWKH,'(FDQEHSUREOHPDWLF
6XEFODVVHGZLQGRZSURFHGXUHVDQGRWKHUFDOOEDFNIXQFWLRQVPXVWUHVLGHLQD%$6
PRGXOH
'HILQHWKHVXEFODVVHGZLQGRZSURFHGXUHDQGDQ\RWKHUFDOOEDFNIXQFWLRQVDV3XEOLF
'RQRWHQGDQDSSOLFDWLRQEHIRUHUHPRYLQJDOOVXEFODVVHGZLQGRZSURFHGXUHV 'RQRWXVHWKH(QGVWDWHPHQWLQ\RXUFRGHRUWKH6WRSEXWWRQLQWKH9%,'(
•
1HYHUORVHWKHIXQFWLRQSRLQWHUWRWKHRULJLQDOZLQGRZSURFHGXUHIRUWKHVXEFODVVHG
•
'RQRWXVHWKH'R(YHQWVIXQFWLRQZLWKLQDQ\ZLQGRZSURFHGXUH
• •
ZLQGRZ
7KRURXJKO\UHVHDUFKWKHPHVVDJHVWKDW\RXZLOOEHWUDSSLQJLQWKHVXEFODVVHG
ZLQGRZSURFHGXUH(DFKPHVVDJHKDVLWVRZQOLWWOHTXLUNV
7RDOORZWKHZLQGRZWRSHUIRUPWKHGHIDXOWSURFHVVLQJIRUDPHVVDJHLWPXVWEH
SDVVHGRQWRWKHRULJLQDOZLQGRZSURFHGXUH&DOO:LQGRZ3URF RUWRWKHGHIDXOW
ZLQGRZSURFHGXUH'HI:LQGRZ3URF
•
,QVWDQFHVXEFODVVLQJDIIHFWVDVSHFLILFZLQGRZDQGLWVZLQGRZSURFHGXUH*OREDO
VXEFODVVLQJDIIHFWVHYHU\ZLQGRZFUHDWHGIURPDZLQGRZFODVVWKDWKDVKDGLWVFODVV
ZLQGRZSURFHGXUHPRGLILHG
• •
*OREDOVXEFODVVLQJDOORZVZLQGRZFUHDWLRQPHVVDJHVWREHSURFHVVHG,QVWDQFH
VXEFODVVLQJGRHVQRWKDYHWKLVDELOLW\
*OREDOVXEFODVVLQJUHTXLUHVWKDWDZLQGRZXVXDOO\KLGGHQZLOOEHFUHDWHGDQGLWV
K:QGXVHGIRUJOREDOVXEFODVVLQJ7KLVZLQGRZPXVWUHPDLQLQPHPRU\IRUWKHOLIHRI
WKHDSSOLFDWLRQ
• • •
'RQRWORVHWKHK:QGDQGRULJLQDOZLQGRZSURFHGXUHFRQWDLQHGLQWKH&6XEFODVV
FODVVZKHQLPSOHPHQWLQJJOREDOVXEFODVVLQJ
$OOJOREDOO\VXEFODVVHGZLQGRZVZLOOFDOOWKHVDPHVXEFODVVHGZLQGRZSURFHGXUHLQ
\RXU%$6PRGXOH
8QORDGDOOJOREDOO\VXEFODVVHGIRUPVEHIRUHGHVWUR\LQJWKH&6XEFODVVREMHFW8QORDG
WKHRULJLQDOZLQGRZXVHGWRJHWWKHK:QGWRLQLWLDWHJOREDOVXEFODVVLQJDIWHU
GHVWUR\LQJWKH&6XEFODVVREMHFW
•
*OREDOVXEFODVVLQJDIIHFWVWKHFODVVVWUXFWXUHQRWWKHZLQGRZVWUXFWXUH
&KDSWHU6XEFODVVLQJWKH:LQGRZV&RPPRQ 'LDORJ%R[HV
7KLVFKDSWHUZLOOIRFXVRQVXEFODVVLQJEXWLQDPRUHVSHFLILFDUHD,QWKLVFKDSWHU,ZLOOVKRZ
\RXKRZWRVXEFODVVWKH:LQGRZVFRPPRQGLDORJV6XEFODVVLQJLVWKHWHUPFRPPRQO\XVHG
WRGHVFULEHZKDWZHZLOOEHGRLQJLQWKLVFKDSWHUEXWDVZHVKDOOVHHWKHWHUPPLJKWQRWEH HQWLUHO\DFFXUDWH7KH2SHQ6DYH$V3ULQW3DJH6HWXS3ULQW3URSHUW\6KHHW)RQW+HOS
)LQG5HSODFHDQG&RORUGLDORJVDUHDOOSDUWRIWKHVWDQGDUGGLDORJVWKDWVKLSZLWKWKH
:LQGRZVRSHUDWLQJV\VWHP7KHVHGLDORJVDUHIRXQGLQFRPGOJGOO0RVWRIWKHPDOVRDUH
HQFDSVXODWHGLQDQ$FWLYH;FRQWUROFDOOHGWKH&RPPRQ'LDORJFRQWURO
9LVXDO%DVLF9% FDQXVHHLWKHUFRPGOJGOORUWKH&RPPRQ'LDORJFRQWUROWRFUHDWHDQG
PDQLSXODWHWKHVHGLDORJER[HV8VLQJWKH&RPPRQ'LDORJFRQWUROKLGHVPXFKRIWKH
FRPSOH[LW\RIXVLQJWKHFRPPRQGLDORJV+RZHYHULI\RXZDQWWRVXEFODVVDFRPPRQGLDORJ
\RXKDYHWRXVHFRPGOJGOOGLUHFWO\7KURXJKRXWWKLVFKDSWHU,ZLOOEHXVLQJFRPGOJGOOWR
FUHDWHDQGPDQLSXODWHWKHFRPPRQGLDORJER[HVWKDWZHZLOOVXEFODVV
HVSHFLDOO\EHFDXVHPRGLI\LQJDFRPPRQGLDORJLVXVXDOO\WKHH[FHSWLRQUDWKHUWKDQWKHUXOH
%XWVRPHWLPHVPRGLI\LQJDFRPPRQGLDORJER[LVDPRUHHIILFLHQWDSSURDFKWRVROYLQJD
SUREOHPHVSHFLDOO\ZKHQWKHGHYHORSHUQHHGVPRUHFRQWURORYHUDXVHU VLQWHUDFWLRQZLWKD
FRPPRQGLDORJER[,QVWHDGRIFUHDWLQJDZKROHQHZ6DYH$VRU3ULQW6HWXSGLDORJER[IURP
VFUDWFKZHFDQXVHWKHIXQFWLRQDOLW\RIWKH6DYH$VFRPPRQGLDORJER[DQGDXJPHQW
FXVWRPL]HRUPRGLI\LWVEHKDYLRU7KLVVDYHVWKHGHYHORSHUPDQ\KRXUVRIUHFUHDWLQJD
FRPPRQGLDORJE\OHYHUDJLQJWKHSUHEXLOWFRGHZLWKLQFRPGOJGOO
,QWKLVFKDSWHUZH OOEXLOGDQH[DPSOHDSSOLFDWLRQVHH)LJXUH WKDWIRFXVHVRQWHDFKLQJ WKHIXQGDPHQWDOVRIVXEFODVVLQJDFRPPRQGLDORJER[7KHFRPPRQGLDORJXVHGLQWKLV
DSSOLFDWLRQLVWKH6DYH$VGLDORJZKLFKZH OOPRGLI\WRSHUIRUPDVLPSOHIXQFWLRQE\DGGLQJ
IRXUFRQWUROVWRLWDFKHFNER[DGURSGRZQOLVWER[DWH[WER[DQGDEXWWRQ7KHEXWWRQLV
WKHRQO\FRQWUROWKDWVHUYHVQRUHDOSXUSRVHH[FHSWWRGLVSOD\DPHVVDJHER[,MXVWZDQWHGWR
DGGLWLQWKLVH[DPSOHWRVKRZ\RXKRZWRXVHDEXWWRQFRQWUROLQDVXEFODVVHGFRPPRQGLDORJ
ER[ (VVHQWLDOO\RXUVDPSOHDSSOLFDWLRQZLOOWUDQVIRUPWKH6DYH$VGLDORJLQWRDUXGLPHQWDU\
([SRUW$VGLDORJER[DVVKRZQLQ)LJXUH7KLVVXEFODVVHGFRPPRQGLDORJER[ZLOOWDNHD WH[WILOHFRQWDLQLQJVHYHUDOFROXPQVRIZRUGVRUQXPEHUVDQGGHOLPLWHDFKZRUGRUQXPEHU
ZLWKDFKDUDFWHURUFKDUDFWHUVRIWKHXVHU VFKRLFH7KHGURSGRZQOLVWER[FRQWDLQVDOLVWRI
VWDQGDUGGHOLPLWHUVWKDWWKHXVHUFDQFKRRVHIURP
)LJXUH7KHPDLQDSSOLFDWLRQZLQGRZ
)LJXUH7KHVXEFODVVHGFRPPRQGLDORJER[
7KHGLDORJZH OOZRUNZLWKLVWKH([SORUHUVW\OH6DYH$V
GLDORJDVRSSRVHGWRWKHRXWGDWHGROGVW\OH6DYH$V GLDORJER[XVHGLQHDUOLHUYHUVLRQVRI:LQGRZV,FKRVHWKH 6DYH$VGLDORJER[EHFDXVHLWLVDOPRVWLGHQWLFDOWRWKH
2SHQGLDORJER[DQGWKHVHWZRFRPPRQGLDORJVDUHDOVR
WKHPRVWZLGHO\XVHGLQDSSOLFDWLRQV
&KHFNLQJWKH8VH3UHGHILQHG'HOLPLWHUFKHFNER[GLVSOD\VWKHGURSGRZQOLVWER[DQGKLGHV
WKHWH[WER[:KHQWKHFKHFNER[LVXQFKHFNHGWKHGURSGRZQOLVWER[LVKLGGHQDQGWKHWH[W
ER[LVGLVSOD\HG7KLVWH[WER[LVDYDLODEOHWRDOORZWKHXVHUWRHQWHUDGHOLPLWLQJFKDUDFWHURI
KLVRUKHUFKRLFH1RZ,NQRZWKDW,FRXOGSODFHWKHGHOLPLWLQJIXQFWLRQDOLW\RXWVLGHRIWKH
FRPPRQGLDORJER[DQGHYHU\WKLQJZRXOGZRUNMXVWILQH2QWKHRWKHUKDQGE\HQFDSVXODWLQJ
WKLVIXQFWLRQDOLW\ZLWKLQDFRPPRQGLDORJER[RWKHUGHYHORSHUVFDQXVHWKHVDPHH[SRUWLQJ
FRGHMXVWE\LQVWDQWLDWLQJWKLVFRPPRQGLDORJER[
7KHUHVWRIWKHFRPPRQGLDORJFRQWUROVUHWDLQWKHLUGHIDXOWIXQFWLRQDOLW\$VDQDGGHGIHDWXUH
HYHU\WLPHDPHVVDJHRILQWHUHVWLVFDSWXUHGE\RXUGLDORJKRRNSURFHGXUHLWZLOOEHGLVSOD\HG
LQWKHPXOWLOLQHWH[WER[RQWKHPDLQDSSOLFDWLRQZLQGRZ7KHPDLQDSSOLFDWLRQZLQGRZLV
GLVSOD\HGLQ)LJXUH
7KHRWKHUFRPPRQGLDORJER[HVZRUNOLNHWKH2SHQDQG6DYH$VGLDORJVDOWKRXJKHDFKKDV
LWVRZQVSHFLDOFKDUDFWHULVWLFV7ZRIHDWXUHVWKDWGLIIHUEHWZHHQFRPPRQGLDORJER[HVDUHWKH
DSSOLFDWLRQSURJUDPPLQJLQWHUIDFH$3, IXQFWLRQVXVHGWRFUHDWHWKHGLDORJVDQGWKH
VWUXFWXUHVWKDWKROGWKHGLDORJ VLQIRUPDWLRQ(YHQZLWKWKHVHGLIIHUHQFHVWKHVDPHEDVLF
UXOHVFDQEHIROORZHGWRVXEFODVVDOOFRPPRQGLDORJV
+RZ&RPPRQ'LDORJ%R[6XEFODVVLQJ:RUNV 6XEFODVVLQJDFRPPRQGLDORJER[LVQRWDVHDV\DVVXEFODVVLQJDZLQGRZ$IHZH[WUDVWHSV
DUHLQYROYHG7KHIRXUPDLQVWHSVDUH
&UHDWHDFKLOGGLDORJWHPSODWHUHVRXUFH
3DFNDJHWKLVUHVRXUFHLQDG\QDPLFOLQNOLEUDU\'// RSWLRQDO
&UHDWHDKRRNSURFHGXUHWKDWZLOOLQWHUFHSWPHVVDJHVIRUWKHFRPPRQGLDORJER[
8VHWKH$3,IXQFWLRQLQWKHFRPGOJGOOILOHWRFUHDWHWKHPRGLILHGFRPPRQGLDORJ ,ZLOOEHXVLQJWKHWHUPGLDORJSURFHGXUHLQVWHDGRIZLQGRZSURFHGXUHWRGHVFULEHWKH
PHVVDJHSURFHVVLQJIXQFWLRQIRUWKHFRPPRQGLDORJER[7KHVHWZRW\SHVRISURFHGXUHVIRU
DOOSUDFWLFDOSXUSRVHVDUHWKHVDPH2QHVPDOOGLIIHUHQFHLVWKDWWKHGLDORJSURFHGXUHVHQGV
DOOXQSURFHVVHGPHVVDJHVWRWKH'HI'OJ3URFIXQFWLRQZKHUHDVWKHZLQGRZSURFHGXUHVHQGV
DOOXQSURFHVVHGPHVVDJHVWRWKH'HI:LQGRZ3URFIXQFWLRQ
8VLQJWKH&20'/*'// %HIRUHJRLQJDQ\IXUWKHUZLWKVXEFODVVLQJFRPPRQGLDORJVZHZLOOVHHKRZWRXVHWKH
FRPGOJGOO$3,V7KHFRPPRQGLDORJWKDWZHXVHIRUVXEFODVVLQJPXVWEHFUHDWHGZLWKWKH
FRPGOJGOO$3,LQVWHDGRIZLWKWKH$FWLYH;&RPPRQ'LDORJFRQWUROFRPGOJRF[ 7KH
FRQVHTXHQFHRIXVLQJWKH'//LQVWHDGRIWKH$FWLYH;FRQWURO2&; LVPDLQO\DGGHG
FRPSOH[LW\DOOWKHGHWDLOVWKDWWKH2&;KLGIURPXVDUHQRZXSWRXVWRKDQGOH7KHJRRG
WKLQJLVWKDWWKHUHLVQRORQJHUDSHUIRUPDQFHSHQDOW\IRUKDYLQJWRORDGWKHFRPGOJRF[
DQGWKLVILOHZLOOQRWKDYHWREHVKLSSHGDORQJZLWK\RXUILQDODSSOLFDWLRQ
7KHFRPPRQGLDORJER[UHOLHVRQFRPGOJGOOIRUPXFKPRUHWKDWMXVWLWVFUHDWLRQ7KLV'//
SURYLGHVWKHGLDORJSURFHGXUHIRUWKHGLDORJDGLDORJSURFHGXUHGRHVIRUDGLDORJZKDWD
ZLQGRZSURFHGXUHGRHVIRUDZLQGRZ 7KLV'//DOVRFRQWDLQVWKHGHIDXOWGLDORJUHVRXUFHV
QHHGHGWRGHVFULEHWKHFRPPRQGLDORJER[7KLVLVZK\ZHPXVWDGGRXURZQGLDORJWHPSODWH
UHVRXUFHWRWKHFRPPRQGLDORJER[LQVWHDGRIMXVWPRGLI\LQJWKHFRPPRQGLDORJER[UHVRXUFH
GLUHFWO\7KH'//DOVRKDQGOHVPHVVDJHURXWLQJZLWKLQWKHFRPPRQGLDORJER[HV
)RURXUH[DPSOHZH OOFUHDWHD6DYH$VFRPPRQGLDORJER[$VZH OOVHHXVLQJWKH
FRPGOJGOOWRFUHDWHFRPPRQGLDORJER[HVE\KDQGLVQRWDVKDUGDVLWVRXQGV7RVWDUWRII
WKH*HW6DYH)LOH1DPH$3,IXQFWLRQDQGWKH23(1),/(1$0(VWUXFWXUHPXVWEHGHILQHG7KH
*HW6DYH)LOH1DPHIXQFWLRQZKLFKRSHQVWKH6DYH$VFRPPRQGLDORJLVGHFODUHGDVIROORZV
3ULYDWH'HFODUH)XQFWLRQ*HW6DYH)LOH1DPH/LEFRPGOJGOOB
$OLDV*HW6DYH)LOH1DPH$S6DYHILOHQDPH$V23(1),/(1$0( $V/RQJ
,WVVLQJOHSDUDPHWHULV S6DYH)LOHQDPH
$SRLQWHUWRDQ23(1),/(1$0(VWUXFWXUH
7KH*HW6DYH)LOH1DPH$3,IXQFWLRQWDNHVWKH23(1),/(1$0(VWUXFWXUHDVLWVRQO\
SDUDPHWHUDQGXVHVLWWRFUHDWHDQGGLVSOD\WKH6DYH$VFRPPRQGLDORJER[7KLVIXQFWLRQ
ZLOOUHWXUQ]HURLIWKHUHLVDQHUURULIWKH&ORVHEXWWRQRQWKHWLWOHEDUZDVFOLFNHGRULIWKH
&DQFHOEXWWRQZDVFOLFNHG
7KH23(1),/(1$0(VWUXFWXUHLVGHFODUHGDVIROORZV
3ULYDWH7\SH23(1),/(1$0( O6WUXFW6L]H$V/RQJ
KZQG2ZQHU$V/RQJ K,QVWDQFH$V/RQJ
OSVWU)LOWHU$V6WULQJ
OSVWU&XVWRP)LOWHU$V6WULQJ
Q0D[&XVW)LOWHU$V/RQJ Q)LOWHU,QGH[$V/RQJ OSVWU)LOH$V6WULQJ
Q0D[)LOH$V/RQJ
OSVWU)LOH7LWOH$V6WULQJ
Q0D[)LOH7LWOH$V/RQJ OSVWU,QLWLDO'LU$V6WULQJ OSVWU7LWOH$V6WULQJ IODJV$V/RQJ
Q)LOH2IIVHW$V,QWHJHU
Q)LOH([WHQVLRQ$V,QWHJHU OSVWU'HI([W$V6WULQJ
O&XVW'DWD$V/RQJ OSIQ+RRN$V/RQJ
OS7HPSODWH1DPH$V6WULQJ
SY5HVHUYHG$V/RQJ
GZ5HVHUYHG$V/RQJ
)ODJV([$V/RQJ
(QG7\SH
,WKDVWKHIROORZLQJPHPEHUV O6WUXFW6L]H
6L]HRIWKLVVWUXFWXUH,WVKRXOGEHVHWWR/HQ23(1),/(1$0(
KZQG2ZQHU
7KHKDQGOHRIWKHGLDORJ VRZQLQJZLQGRZ,WFDQEH]HURLIQRZLQGRZRZQVWKLV
GLDORJ
K,QVWDQFH
7KHKDQGOHWRWKHREMHFWWKDWFRQWDLQVWKHGLDORJWHPSODWHUHVRXUFH)RUWKLVH[DPSOH
WKLVLVDKDQGOHWRRXUUHVRXUFH'//7RJHWWKLVKDQGOHWKH/RDG/LEUDU\$3,IXQFWLRQ
LVXVHG7KLVIXQFWLRQWDNHVRQHSDUDPHWHUWKHSDWKDQGILOHQDPHRIWKH'//
/RDG/LEUDU\UHWXUQVWKHKDQGOHWRWKH'//
OSVWU)LOWHU
$VWULQJGHILQLQJWKHILOWHUVLIDQ\XVHGLQWKHGLDORJER[ V6DYH$V7\SHGURSGRZQ
OLVW7KHILOWHULVLQWKHIRUPDW^ILOWHUQDPH`_^ILOWHU`7KHILOWHUQDPHLVDQDPHIRUWKH
ILOWHUVXFKDV$OO)LOHV7KHILOWHULVDQH[SUHVVLRQXVHGWRGHVFULEHWKHILOWHUVXFKDV
7KHUHIRUHWKHFRGHWRGHVFULEHWKLVILOWHUZRXOGORRNOLNHWKHIROORZLQJ
23(1),/(1$0(OSVWU)LOWHU $OO)LOHV_
OSVWU&XVWRP)LOWHU
7KHODVWILOWHUFKRVHQE\WKHXVHU
Q0D[&XVW)LOWHU
7KHVL]HRIOSVWU&XVWRP)LOWHU
Q)LOWHU,QGH[ OSVWU)LOH
7KHLQGH[RIWKHFKRVHQILOWHU :KHQLQLWLDOL]LQJWKHGLDORJWKLVPHPEHUFRQWDLQVWKHGHIDXOWWH[WIRUWKH)LOH1DPH
HGLWFRQWURO:KHQWKHXVHUVHOHFWVDILOHDQGH[LWVWKHGLDORJER[WKLVPHPEHU
FRQWDLQVWKHFRPSOHWHSDWKRIWKHVHOHFWHGILOH
Q0D[)LOH
7KHVL]HRIOSVWU)LOH
OSVWU)LOH7LWOH
7KHILOHQDPHDQGH[WHQVLRQRIRQO\WKHUHWXUQHGILOH
Q0D[)LOH7LWOH
7KHVL]HRIOSVWU)LOH7LWOH
OSVWU,QLWLDO'LU
7KHGHIDXOWSDWKIRUWKHGLDORJER[ZKHQLWLVLQLWLDOL]HG
OSVWU7LWOH
7KHWLWOHRIWKHGLDORJER[
)ODJV
9DULRXVIODJVXVHGWRLQLWLDOL]HWKHGLDORJER[6RPHRIWKHPRUHFRPPRQO\XVHGIODJV
DUH OFN_ALLOWMULTISELECT (&H200)
$OORZVWKHXVHUWRVHOHFWPRUHWKDQRQHILOH OFN_EXPLORER (&H80000)
&UHDWHVDQHZ([SORUHUVW\OHFRPPRQGLDORJER[ OFN_FILEMUSTEXIST (&H1000)
7RRSHQDILOHWKHILOHPXVWH[LVWRUDQHUURULVUDLVHG OFN_HIDEREADONLY (&H04) 7KH5HDG2QO\FKHFNER[RQWKHGLDORJLVKLGGHQ OFN_NOVALIDATE (&H100)
7KHILOHDQGSDWKDUHQRWYDOLGDWHGGXULQJSURFHVVLQJE\WKHGLDORJ OFN_PATHMUSTEXIST (&H800) 7KHSDWKFKRVHQLQWKHGLDORJPXVWH[LVWRUDQHUURULVUDLVHG OFN_SHOWHELP (&H10) 7KH+HOSEXWWRQLVGLVSOD\HG OFN_ENABLEHOOK (&H20)
8VHGIRUVXEFODVVLQJHQDEOHVWKHXVHRIDGLDORJKRRNSURFHGXUH OFN_ENABLETEMPLATE (&H40)
8VHGIRUVXEFODVVLQJHQDEOHVWKHXVHRIDUHVRXUFHLQHLWKHUD5(6RU'//IRUPDW OFN_ENABLETEMPLATEHANDLE (&H80) 8VHGIRUVXEFODVVLQJHQDEOHVWKHXVHRIDUHVRXUFHVWRUHGLQPHPRU\ OFN_ENABLEINCLUDENOTIFY (&H400000)
8VHGIRUVXEFODVVLQJHQDEOHVWKHGLDORJWRVHQGWKH&'1B,1&/8'(,7(0 QRWLILFDWLRQ
Q)LOH2IIVHW
7KHSRVLWLRQRIWKHILUVWFKDUDFWHURIWKHILOHQDPHLQOSVWU)LOH7KLVPHPEHULV]HUR
EDVHG
Q)LOH([WHQVLRQ
7KHSRVLWLRQRIWKHILUVWFKDUDFWHURIWKHILOHQDPHH[WHQVLRQLQOSVWU)LOH7KLVPHPEHU
LV]HUREDVHG
OSVWU'HI([W
7KHILOHH[WHQVLRQDSSHQGHGWRWKHILOHQDPHLIRQHLVQRWSURYLGHG
O&XVW'DWD
([WUDGDWDWKDWFDQEHVHQWWRWKHGLDORJKRRNSURFHGXUHYLDWKH:0B,1,7',$/2*
PHVVDJH:KHQWKLVPHVVDJHLVVHQWWRWKHKRRNSURFHGXUHLWFRQWDLQVDSRLQWHUWR
WKLVVWUXFWXUHLQWKHO3DUDPSDUDPHWHURIWKLVPHVVDJH
OSIQ+RRN
7KHSRLQWHUWRRXUGLDORJKRRNSURFHGXUH
OS7HPSODWH1DPH
7KHGLDORJWHPSODWHUHVRXUFH,'
SY5HVHUYHG
5HVHUYHGE\WKHV\VWHP
GZ5HVHUYHG )ODJV([
5HVHUYHGE\WKHV\VWHP
6HWWLQJWKLVIODJWR]HURDOORZVWKH3ODFHVEDUWREHGLVSOD\HGRQWKHFRPPRQGLDORJ
ER[VHWWLQJWKLVIODJWRDQ\RWKHUQXPEHUSUHYHQWVWKLVEDUIURPGLVSOD\LQJ7KH
3ODFHVEDULVORFDWHGRQWKHOHIWKDQGVLGHRIWKH2SHQDQG6DYH$VFRPPRQGLDORJ
ER[HVXQGHU:LQGRZVDQGFRQWDLQVVKRUWFXWVWRFRPPRQO\XVHGIROGHUVVXFK
DV'HVNWRS+LVWRU\0\'RFXPHQWV0\&RPSXWHUDQG0\1HWZRUN3ODFHV
7KH23(1),/(1$0(VWUXFWXUHFRQWDLQVLQIRUPDWLRQQHHGHGWRLQLWLDOL]HWKH6DYH$V
FRPPRQGLDORJER[$IWHUWKH*HW6DYH)LOH1DPHIXQFWLRQUHWXUQVWKH23(1),/(1$0(
VWUXFWXUHLVUHWXUQHGZLWKVRPHPHPEHUYDOXHVFKDQJHG7KHOSVWU)LOH7LWOHPHPEHUIRUWKLV
VWUXFWXUHUHWXUQVLQIRUPDWLRQDERXWWKHILOHDQGH[WHQVLRQWKHXVHUKDVVHOHFWHGRUW\SHGLQWR
WKH6DYH$VGLDORJER[7KHOSVWU)LOHPHPEHUUHWXUQVWKHHQWLUHSDWKDQGILOHQDPHIRUWKH
VHOHFWHGRUW\SHGLQILOHQDPH
$OWKRXJKWKH23(1),/(1$0(VWUXFWXUHDQGWKH*HW6DYH)LOH1DPH$3,IXQFWLRQDUHXVHGIRU
WKH6DYH$VGLDORJER[PRVWHYHU\RWKHUFRPPRQGLDORJER[LVFUHDWHGXVLQJDGLIIHUHQW
VWUXFWXUHDQGDGLIIHUHQW$3,IXQFWLRQ7KHVWUXFWXUHQDPHVDQG$3,IXQFWLRQFDOOVIRUWKHVH
RWKHUFRPPRQGLDORJVDUHOLVWHGLQ7DEOH
7DEOH6WUXFWXUHVDQG)XQFWLRQVIRU$OO&RPPRQ'LDORJ%R[HV &RPPRQ'LDORJ7\SH
'LDORJ6WUXFWXUH
'LDORJ&UHDWLRQ)XQFWLRQ
2SHQ
23(1),/(1$0(
*HW2SHQ)LOH1DPH
6DYH$V
23(1),/(1$0(
*HW6DYH)LOH1DPH
&RORU
&+226(&2/25
&KRRVH&RORU
)RQW
&+226()217
&KRRVH)RQW
3ULQW
35,17'/*
3ULQW'OJ
3ULQW3URSHUW\6KHHW:LQ
35,17'/*(;
3ULQW'OJ([
3DJH6HWXS
3$*(6(783'/*
3DJH6HWXS'OJ
)LQG
),1'5(3/$&(
)LQG7H[W
5HSODFH
),1'5(3/$&(
5HSODFH7H[W
7KHFRGHLQ([DPSOHVKRZVKRZWRLQLWLDOL]HWKH23(1),/(1$0(VWUXFWXUHDQGFDOOWKH
*HW6DYH)LOH1DPH$3,IXQFWLRQ7RXVHWKLVFRGHFUHDWHDQHZ9%6WDQGDUG(;(SURMHFWDQG
DGGDEXWWRQFDOOHG&RPPDQGWRWKHIRUP1RQHRIWKHGHIDXOWSURSHUWLHVQHHGVWREH
FKDQJHGIRUHLWKHUWKHIRUPRUWKHEXWWRQ1H[WLQVHUWWKLVFRGHLQWRWKHIRUP VFRGHZLQGRZ
5XQWKHSURMHFWDQGFOLFNWKHEXWWRQ$6DYH$VGLDORJER[ZLOODSSHDUZLWKWKHWLWOH&RPPRQ
'LDORJ([DPSOH
([DPSOH2SHQLQJWKH6DYH$V&RPPRQ'LDORJ
3ULYDWH'HFODUH)XQFWLRQ*HW6DYH)LOH1DPH/LEFRPGOJGOO$OLDVB *HW6DYH)LOH1DPH$S2SHQILOHQDPH$V2SHQ)LOHQDPH $V/RQJ
3ULYDWH7\SH2SHQ)LOHQDPH
O6WUXFW6L]H$V/RQJ
KZQG2ZQHU$V/RQJ K,QVWDQFH$V/RQJ
OSVWU)LOWHU$V6WULQJ
OSVWU&XVWRP)LOWHU$V6WULQJ
Q0D[&XVW)LOWHU$V/RQJ
Q)LOWHU,QGH[$V/RQJ OSVWU)LOH$V6WULQJ
Q0D[)LOH$V/RQJ
OSVWU)LOH7LWOH$V6WULQJ
Q0D[)LOH7LWOH$V/RQJ
OSVWU,QLWLDO'LU$V6WULQJ OSVWU7LWOH$V6WULQJ IODJV$V/RQJ
Q)LOH2IIVHW$V,QWHJHU
Q)LOH([WHQVLRQ$V,QWHJHU
OSVWU'HI([W$V6WULQJ O&XVW'DWD$V/RQJ OSIQ+RRN$V/RQJ
OS7HPSODWH1DPH$V/RQJ SY5HVHUYHG$V/RQJ
GZ5HVHUYHG$V/RQJ
)ODJV([$V/RQJ
(QG7\SH
3ULYDWH6XE&RPPDQGB&OLFN
'LP6DYH$V'OJ6WUXFW$V2SHQ)LOHQDPH 'LPO5HW9DO$V/RQJ
,QLWLDOL]HGDWDVWUXFWXUH
6DYH$V'OJ6WUXFWO6WUXFW6L]H /HQ6DYH$V'OJ6WUXFW
6DYH$V'OJ6WUXFWKZQG2ZQHU 0HK:QG
6DYH$V'OJ6WUXFWOSVWU)LOWHU $OO)LOHV &KU &KU &KU
6DYH$V'OJ6WUXFWOSVWU)LOH &KU 6SDFH
6DYH$V'OJ6WUXFWQ0D[)LOH /HQ6DYH$V'OJ6WUXFWOSVWU)LOH
6DYH$V'OJ6WUXFWQ)LOWHU,QGH[
6DYH$V'OJ6WUXFWOSVWU,QLWLDO'LU &?
6DYH$V'OJ6WUXFWOSVWU7LWOH &RPPRQ'LDORJ([DPSOH
6DYH$V'OJ6WUXFWIODJV
6DYH$V'OJ6WUXFW)ODJV([
&DOO$3,IXQFWLRQWRFUHDWHWKHFRPPRQGLDORJER[ O5HW9DO *HW6DYH)LOH1DPH6DYH$V'OJ6WUXFW
'HWHUPLQHDQGDFWRQWKHUHWXUQYDOXH
,IO5HW9DO 7KHQ
'HEXJ3ULQW7KH&DQFHOEXWWRQZDVFOLFNHGRUDQHUURURFFXUHG
(OVH
'HEXJ3ULQW7ULP6DYH$V'OJ6WUXFWOSVWU)LOH LVWKHILOHWREHVDYHG
(QG,I
(QG6XE
%DVLFDOO\WKUHHVWHSVDUHLQYROYHGLQWKLVFRGHVDPSOH ,QLWLDOL]HWKH23(1),/(1$0(VWUXFWXUH0DQ\RIWKHPHPEHUVLQWKLVVWUXFWXUHDUH
IDPLOLDUWR\RXLI\RXKDYHXVHGWKH$FWLYH;FRPPRQGLDORJFRQWURO6RPHZLOOQRWEH
IDPLOLDU2QHRIWKHPHPEHUVWKDWPLJKWQRWEHIDPLOLDUWR\RXLVO6WUXFW6L]HZKLFK
PXVWEHVHWWRWKHOHQJWKRIWKHHQWLUHVWUXFWXUHWKLVHQVXUHVWKDWWKH
*HW6DYH)LOH1DPHIXQFWLRQZLOOQRWZULWHWRPHPRU\SDVWWKHERXQGVRIWKLVVWUXFWXUH
7KHKZQG2ZQHUPHPEHULVWKHKDQGOHWRWKHZLQGRZWKDWRZQVWKLVFRPPRQGLDORJ
ER[LQRXUFDVHLWLVHTXDOWRIUP0DLQKZQG
&DOOWKH*HW6DYH)LOH1DPHIXQFWLRQWRFUHDWHDQGGLVSOD\WKHGLDORJER[
5HWULHYHWKHSDWKDQGILOHQDPHRIWKHVHOHFWHGILOHEDVHGRQWKHUHWXUQYDOXHRI *HW6DYH)LOH1DPH
7KHFRGHKHUHGRHVQRWGRPXFKPRUHWKDQWKHFRPGOJRF[FRQWUROZRXOGGR7KH
GLIIHUHQFHLVWKDWXVLQJWKHFRPGOJRF[FRQWUROGHFUHDVHVWKHDPRXQWRIFRGHWKDWZHKDYH
WRZULWHIRUWKLVH[DPSOH7KLVH[DPSOHGRHVQRWDOORZWKHFRPPRQGLDORJWREHVXEFODVVHG
7RLPSOHPHQWDFRPPRQGLDORJKRRNSURFHGXUHWRLQWHUFHSWPHVVDJHVDQGDGLDORJWHPSODWH
UHVRXUFHWRPRGLI\WKHXVHULQWHUIDFH8, RIWKHFRPPRQGLDORJZHPXVWOHDUQDOLWWOHPRUH DERXWWKHFRPGOJGOODQGWKHZD\LWIXQFWLRQV
7KH5HVRXUFH)LOH 7KHILUVWVWHSLQVXEFODVVLQJDFRPPRQGLDORJER[LQYROYHVFUHDWLQJDGLDORJUHVRXUFHWKDWZLOO
EHVWRUHGLQDUHVRXUFHILOH9%UHTXLUHVWKHUHVRXUFHILOHWRKDYHDQH[WHQVLRQRI5(67KLV
ILOHFRQWDLQVLQIRUPDWLRQRQHDFKLQGLYLGXDOUHVRXUFHVWRUHGZLWKLQLW0DQ\W\SHVRIUHVRXUFHV
FDQEHVWRUHGLQWKLVILOHVRPHRIWKHPDLQW\SHVRIUHVRXUFHVXVHGE\:LQGRZVDUH Strings Cursors Accelerator tables Bitmaps Dialogs Icons Menus Fonts User-defined resources
$OOUHVRXUFHVLQ:LQGRZVIROORZDVWDQGDUGL]HGIRUPDW(DFKUHVRXUFHKDVDXQLTXHLGHQWLILHU
DFRQVWDQWFDOOHGDUHVRXUFHLG WKDWLVXVHGE\DQDSSOLFDWLRQWRPDQLSXODWHWKDWSDUWLFXODU
UHVRXUFH)RUWKHDSSOLFDWLRQWRXVHWKHUHVRXUFHWKLVLGHQWLILHUPXVWEHGHILQHGLQ\RXU9%
DSSOLFDWLRQDVZHOODVLQWKHUHVRXUFHILOH,I\RXXVHDUHVRXUFHHGLWRUWKHUHVRXUFH,'LV
SURYLGHGWR\RX)LQDOO\WKHUHVRXUFHILOHFRQWDLQVWKHDFWXDOGDWDWKDWFRQVWLWXWHVWKH
UHVRXUFH
5HVRXUFHILOHVFDQEHFUHDWHGE\KDQGEXWLWLVPXFKHDVLHUWRFUHDWHWKHPWKURXJKD
UHVRXUFHHGLWLQJWRRO9LVXDO&KDVVXFKDWRROFDOOHGWKH5HVRXUFH(GLWRUWKDWFDQSURGXFH
VWDQGDUG:LQGRZVUHVRXUFHV7KLVLVWKHWRRO,ZLOOXVHLQWKLVFKDSWHUEXW\RXFDQXVHZKDWLV
PRVWIDPLOLDUWR\RX
8VLQJUHVRXUFHILOHVFDQLPSURYHDSSOLFDWLRQUHVSRQVHWLPH,QVWHDGRIORDGLQJDOOUHVRXUFHV
DWRQHWLPH\RXFDQORDGLQGLYLGXDOUHVRXUFHVDVWKH\DUHQHHGHG7DNHIRULQVWDQFHLPDJHV
RQDIRUPLQ9%,IWKHLPDJHVZHUHVWRUHGRQWKHIRUPWKH\ZRXOGDOOEHORDGHGLQWRPHPRU\
ZKHQWKHIRUPZDVORDGHGLQWRPHPRU\,ILQVWHDGWKHLPDJHVZHUHLQDUHVRXUFHILOH
VHSDUDWHIURPWKHIRUPWKHIRUPFRXOGORDGLWVHOILQWRPHPRU\DQGWKHQORDGWKHLPDJHVLQWR
PHPRU\RQHE\RQHDVQHHGHG
$QRWKHUXVHIXOIHDWXUHRIUHVRXUFHILOHVLVWKHDELOLW\WRLQWHUQDWLRQDOL]HDQDSSOLFDWLRQZLWK
PLQLPDOFKDQJHVWRWKHDSSOLFDWLRQLWVHOI,IDOOVWULQJVXVHGE\DQDSSOLFDWLRQUHVLGHLQDVLQJOH
UHVRXUFHILOHWKDWILOHFRXOGEHWUDQVODWHGLQWRDQRWKHUODQJXDJHDQGWKHQUHFRPSLOHGLQWRWKH
DSSOLFDWLRQ7KLVZRXOGDOORZWKHDSSOLFDWLRQWRVXSSRUWPXOWLSOHODQJXDJHVZLWKRXWWKH
GHYHORSHUKDYLQJWRWRXFKWKHDSSOLFDWLRQRUDQ\RILWVFRGH2IFRXUVHIRUWKLVWRZRUNWRLWV
IXOOHVWSRWHQWLDODOOVWULQJVLQFOXGLQJILHOGLGHQWLILHUVDOOFDSWLRQVVWDWLFWH[WIRUDQ\IRUPRU
FRQWURODQGDQ\PHVVDJHER[DQGGLDORJWH[WMXVWWRPHQWLRQDIHZPXVWUHVLGHLQWKH
UHVRXUFHILOH
,QWKLVFKDSWHUZHZLOOQRWIRFXVRQWKHVHWZRXVHVRIUHVRXUFHILOHV5DWKHUZHZLOOEHXVLQJ
WKHUHVRXUFHILOHIRUWKHSXUSRVHRIVWRULQJDGLDORJUHVRXUFHWKDWGHILQHVWKHFRQWUROVZHDUH
DGGLQJWRWKHGLDORJDQGWKHLUSODFHPHQW7KHUHVRXUFHZLOOWKHQEHLQFOXGHGLQWKHVWDQGDUG
FRPPRQGLDORJER[DVDFKLOGGLDORJZLQGRZ)RUUHIHUHQFH,ZLOOFDOOWKLVUHVRXUFHDGLDORJ
WHPSODWHUHVRXUFHILOH
,QWKLVFKDSWHU,UHIHUWRERWKDSDUHQWDQGDFKLOGGLDORJ
ZLQGRZ7KHSDUHQWGLDORJZLQGRZLVWKHRULJLQDOGLDORJ
ZLQGRZ7KHSDUHQWGLDORJZLQGRZLVWKHRULJLQDOGLDORJ
ZLQGRZWKDWZHLQWHQGWRVXEFODVVDQGWKHGLDORJWHPSODWH UHVRXUFHILOHGHVFULEHVWKHFKLOGGLDORJZLQGRZ)RUD
YLVXDOGHVFULSWLRQVHH)LJXUHZKLFKLVDVXEFODVVHG
6DYH$VGLDORJ7KHSDUHQWGLDORJLVWKHZLQGRZFRQWDLQLQJ DOOWKHRULJLQDOFRQWUROVIRUWKLVGLDORJ7KHFKLOGGLDORJLV
WKHZLQGRZLQGLFDWHGE\WKHGRWWHGOLQHWKLVLVZKHUHWKH FRQWUROVZHDGGHGDUHSODFHG7KHFKLOGGLDORJLV
VXSHULPSRVHGRQWRWKHSDUHQWGLDORJDQGWKHXSSHUOHIW
FRRUGLQDWHRIWKHFKLOGGLDORJEHJLQVDWORFDWLRQRIWKH
FRPPRQGLDORJ VFOLHQWDUHD
6XEFODVVLQJDFRPPRQGLDORJER[DOORZVXVWRLQWHUFHSWPHVVDJHVWRFRQWUROWKHORRNDQG
EHKDYLRURIWKHGLDORJ7KHGLDORJUHVRXUFHDOORZVXVWRDGGFRQWUROVWRWKHH[LVWLQJFRPPRQ
GLDORJER[8VLQJVXEFODVVLQJZHDOVRFDQLQWHUFHSWPHVVDJHVIURPWKHVHQHZFRQWUROV
DGGHGE\WKHUHVRXUFHWHPSODWH,WLVSRVVLEOHWRVXEFODVVDFRPPRQGLDORJER[ZLWKRXWILUVW
FUHDWLQJDGLDORJUHVRXUFH,IDGLDORJUHVRXUFHLVQRWLPSOHPHQWHGWKHORRNRIWKHFRPPRQ GLDORJZLOOQRWEHPRGLILHGIURPLWVRULJLQDODSSHDUDQFH
:HQHHGWRFUHDWHWKLVGLDORJWHPSODWHUHVRXUFHILOHEHFDXVHLWLVQRWSRVVLEOHWRGLUHFWO\
PRGLI\WKHGHIDXOWGLDORJWHPSODWHIRUWKH([SORUHUVW\OH2SHQDQG6DYH$VFRPPRQGLDORJ ER[HV(YHU\FRPPRQGLDORJER[KDVDGHIDXOWGLDORJWHPSODWHWKDWGHWHUPLQHVZKHUH
FRQWUROVDUHSODFHGRQWKHGLDORJDQGZKDWHDFKFRQWURO VSURSHUWLHVDUHVHWWR0RVWFRPPRQ
GLDORJGHIDXOWWHPSODWHVDUHFRQWDLQHGLQDKHDGHUK ILOHWKDWLVDFFHVVLEOHE\WKHGHYHORSHU
PRUHRQWKHVHKHDGHUILOHVODWHULQWKLVFKDSWHU 7KHVHKHDGHUILOHVFDQEHPRGLILHGDQG
UHFRPSLOHGWRFKDQJHWKHGHIDXOWDSSHDUDQFHRIWKHGLDORJ+RZHYHUWKHGHIDXOWGLDORJ
WHPSODWHVIRUWKH([SORUHUVW\OH2SHQDQG6DYH$VGLDORJVDUHFRPSLOHGLQWRWKHFRPGOJGOO
ILOHDQGWKHUHIRUHDUHQRWDFFHVVLEOH
)LJXUH'LDJUDPVKRZLQJZKHUHWKHFKLOGGLDORJLVSODFHGZLWKLQWKHFRPPRQGLDORJER[
7KHFRPPRQGLDORJER[ZLOOWUHDWWKHGLDORJWHPSODWHUHVRXUFHWKDWZHFUHDWHDVDFKLOG
ZLQGRZWRLWVHOIDV)LJXUHVKRZV$Q\WLPH,UHIHUHQFHHLWKHUWKHFKLOGGLDORJWHPSODWH UHVRXUFHRUWKHGLDORJWHPSODWHUHVRXUFH,DPVSHDNLQJRIWKHGLDORJUHVRXUFHWKDWLV
FRQWDLQHGZLWKLQWKHUHVRXUFHILOH5(6 RUWKH'//
0XOWLSOHUHVRXUFHVFDQEHFRQWDLQHGZLWKLQDVLQJOH5(6ILOH6RLI\RXQHHGWRPRGLI\PRUH
WKDQRQHFRPPRQGLDORJRUPRGLI\RQHFRPPRQGLDORJLQVHYHUDOGLIIHUHQWZD\VDOOWKHGLDORJ
WHPSODWHUHVRXUFHVFDQEHSODFHGZLWKLQDVLQJOH5(6ILOH:KHQSODFLQJPXOWLSOHUHVRXUFHV
ZLWKLQDVLQJOH5(6ILOHPDNHVXUHWKDWDXQLTXH,'LGHQWLILHVHDFKUHVRXUFH3ODFLQJPXOWLSOH
UHVRXUFHVLQDVLQJOHUHVRXUFHILOHLVQHFHVVDU\EHFDXVH9%DOORZVRQO\RQHUHVRXUFHILOHSHU
SURMHFW$GGLQJDVHFRQGILOHZLOOSURGXFHDQHUURUDQGLWZLOOQRWEHDGGHGWRWKHSURMHFW
&UHDWLQJD'LDORJ5HVRXUFH)LOH8VLQJ9%DQG9LVXDO& 7KRXJK\RXFRXOGFUHDWHWKHGLDORJUHVRXUFHXVLQJRQO\9LVXDO&,ZLOOVKRZ\RXKRZWR
XVH9%WRVWDUWRXWWKHSURFHVV)RUWKRVHRI\RXPRUHFRPIRUWDEOHXVLQJWKH9LVXDO&
GLDORJHGLWRUIHHOIUHHWRXVHRQO\WKDWHGLWRU)RUWKRVHRI\RXZKRGHYHORSPDLQO\LQ9%\RX
PLJKWIHHOPRUHFRPIRUWDEOHXVLQJWKHGLDORJIRUP HGLWRULQ9%,WGRHVQRWPDWWHUZKLFKWRRO
LVXVHGWRVWDUWWKHSURFHVVRIFUHDWLQJWKHGLDORJUHVRXUFH
,Q9%FUHDWHDQHZ6WDQGDUG(;(SURMHFWDQGSODFHWKHIRXUFRQWUROVWKDWZHDUHDGGLQJWR
WKHFRPPRQGLDORJER[DFKHFNER[DGURSGRZQOLVWER[DWH[WER[DQGDFRPPDQGEXWWRQ
RQWKHIRUPDVVKRZQLQ)LJXUH7KHQRQGHIDXOWSURSHUWLHVRIWKHFRQWUROVDUHOLVWHGLQ 7DEOHDQGWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDUHOLVWHGLQ7DEOH )LJXUH7KH9%IRUPZLWKWKHFRQWUROVSODFHGRQLW
7DEOH1RQGHIDXOW3URSHUWLHVRIWKH&RQWUROV &RQWURO1DPH
3URSHUW\1DPH
3URSHUW\9DOXH
&KHFN
&DSWLRQ
8VH3UHGHILQHG'HOLPLWHU
&KHFN
7RS
&KHFN
/HIW
&KHFN
+HLJKW
&KHFN
:LGWK
7H[W
7RS
7H[W
/HIW
7H[W
+HLJKW
7H[W
:LGWK
&RPER
6W\OH
'URSGRZQ&RPER
&RPER
7RS
&RPER
/HIW
&RPER
+HLJKW
&RPER
:LGWK
%XWWRQ
&DSWLRQ
&OLFN 0H
%XWWRQ
7RS
%XWWRQ
/HIW
%XWWRQ
+HLJKW
%XWWRQ
:LGWK
7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUP 3URSHUW\
9DOXH
1DPH
IUP)RUP7HPSODWH
7RS
/HIW
+HLJKW
:LGWK
,WLVLPSRUWDQWWRQRWHWKDWDOOWKHFRQWUROVSODFHGLQWKHUHVRXUFHZLOOGHIDXOWWREHLQJSODFHGDW
WKHERWWRPRIWKHFRPPRQGLDORJER[EHORZDOOWKHRWKHUGHIDXOWFRQWUROV+RZHYHUWKH\VWLOO
UHWDLQWKHVDPHUHODWLYHSRVLWLRQWRRQHDQRWKHU7KHFRPPRQGLDORJER[ZLOODXWRPDWLFDOO\
UHVL]HLWVIRUPWRDFFRPPRGDWHWKHVHFRQWUROVPRUHDERXWWKLVODWHU
$IWHUSODFLQJWKHFRQWUROVLQWKHLUSURSHUSODFHRQWKH9%IRUPVDYHWKHSURMHFW7KHSURMHFW ILOHQDPHVDUHOLVWHGLQ7DEOH
7DEOH)LOHQDPHVIRUWKH9%3URMHFW )LOHQDPH
'HVFULSWLRQ
)UP)RUP7HPSODWHIUP
&RQWDLQVWKHIRUPQDPHGIUP)RUP7HPSODWH
9%B)RUPB5(6YES
3URMHFWILOH
7KLV9%IRUPZLOOEHLPSRUWHGLQWRWKH9LVXDO&HGLWRUVRWKDWDGLDORJWHPSODWHUHVRXUFH
FDQEHFUHDWHGIURPLW
1H[WVWDUWXS9LVXDO&DQGFOLFNWKH)LOH
1HZPHQXLWHP,QWKH1HZGLDORJVHOHFWWKH
)LOHVWDE7KLVWDEFRQWDLQVLQGLYLGXDOLWHPVWKDWFDQEHFUHDWHGZLWKLQWKH9LVXDO&
HQYLURQPHQW6HOHFWWKH5HVRXUFH7HPSODWHLWHPLQWKHOLVWER[W\SHWKHQDPHRIWKH
UHVRXUFHWHPSODWH'OJ5HVLQWKH)LOH1DPHWH[WER[GRQ WLQFOXGHDILOHH[WHQVLRQ DQG
W\SHWKHORFDWLRQZKHUH\RXZDQWWKLVILOHWREHVDYHGLQWKH/RFDWLRQWH[WER[&OLFNWKH2.
EXWWRQ
$QHZZLQGRZRSHQVXSLQWKH9LVXDO&,'(ZLWKDQHPSW\UHVRXUFHILOHLQLW7KLVUHVRXUFH
ILOHKDVWKHQDPHRIWKHILOH\RXW\SHGLQWRWKH)LOH1DPHWH[WER[LQWKH1HZGLDORJIROORZHG
E\DUFWH[WHQVLRQ5LJKWFOLFNWKLVLWHPDQGFKRRVHWKH,PSRUWRSWLRQIURPWKHSRSXS
PHQX7KLVZLOORSHQWKH,PSRUW5HVRXUFHGLDORJER[)LUVWVHOHFW9LVXDO%DVLF)RUPVIUP
IURPWKH)LOHVRI7\SHGURSGRZQER[7KHQILQGDQGVHOHFWWKHIRUPILOHWKDWZHMXVWFUHDWHG
LQ9%)UP)RUP7HPSODWHIUP 7KH9LVXDO&GLDORJHGLWRUZLOOFRQYHUWWKLVILOHWRRQHWKDWLW
FDQXVHDQGGLVSOD\LWLQLWVRZQHGLWRU:KHQFUHDWLQJWKLVH[DPSOHDSSOLFDWLRQ,QRWLFHGWKDW
WKHGURSGRZQOLVWER[ZDVQRWLPSRUWHGIURPWKH9%IRUP,DPQRWVXUHZK\WKLVKDSSHQHG
EXWLIWKLVRFFXUVRQ\RXUSURMHFWVLPSO\UHDGGWKHFRQWUROXVLQJWKH9LVXDO&HGLWRULQWKH
VDPHZD\DV\RXZRXOGLQ9%
:HPXVWPDNHDIHZFULWLFDOPRGLILFDWLRQVWRWKLVIRUP5LJKWFOLFNWKHIRUPDQGVHOHFW
3URSHUWLHVIURPWKHSRSXSPHQX7KH'LDORJ3URSHUWLHVGLDORJZLOODSSHDU2QWKH*HQHUDO
WDEUHPRYHDQ\WH[WIURPWKH&DSWLRQWH[WER[$OVRPDNHVXUHWKDWWKH;3RVDQG<3RV
WH[WER[HVFRQWDLQD]HUR0RVWRIWKHWLPHWKHUHZLOOEHQRUHDVRQWRPRGLI\WKHYDOXHLQWKH
,'GURSGRZQFRPERER[2QWKH6W\OHVWDEWKH6W\OHGURSGRZQER[VKRXOGFRQWDLQWKHLWHP
&KLOG7KH%RUGHUGURSGRZQER[VKRXOGFRQWDLQWKHLWHP1RQH7KH&OLSVLEOLQJVFKHFNER[
VKRXOGEHFKHFNHG
6HWWLQJWKH6W\OHGURSGRZQER[WR&KLOGJLYHVWKLVGLDORJDVW\OHRI:6B&+,/'7KLVVW\OH
LQIRUPV:LQGRZVWKDWWKLVLVDFKLOGZLQGRZ&KLOGZLQGRZVDUHFRQWDLQHGZLWKLQDSDUHQW
ZLQGRZ,QWKLVFDVHRXUGLDORJWHPSODWHZLOOEHDFKLOGZLQGRZRIWKHFRPPRQGLDORJER[
ZKLFKLVWKHSDUHQW7KHFRRUGLQDWHV\VWHPIRUWKHFKLOGZLQGRZRULJLQDWHVDWWKHWRSOHIW
FRUQHURIWKHSDUHQWZLQGRZ VFOLHQWDUHD$OVRDQ\SDUWRIWKHFKLOGZLQGRZWKDWLVRXWVLGHRI
WKHSDUHQWZLQGRZ VFOLHQWDUHDLVFOLSSHGRUKLGGHQ)DLOXUHWRPDNHWKLVDFKLOGZLQGRZZLOO
PRVWOLNHO\FDXVHWKHGLDORJWHPSODWHFRQWUROVQRWWRGLVSOD\
&KHFNLQJWKH&OLSVLEOLQJVFKHFNER[JLYHVWKLVFKLOGZLQGRZDZLQGRZVW\OHRI
:6B&/,36,%/,1*67KLVVW\OHZLOOQRWDOORZDQ\RIWKHFRQWUROVRQWKHFKLOGGLDORJER[WR
SDLQWRQWRSRIWKHFRQWUROVRQWKHGHIDXOWFRPPRQGLDORJER[
2QWKH0RUH6W\OHVWDEWKHRQO\ER[HVWKDWVKRXOGEHFKHFNHGDUHWKH9LVLEOHFKHFNER[WKH
'ORRNFKHFNER[DQGWKH&RQWUROFKHFNER[7KHODVWWZRWDEVDUHWKH([WHQGHG6W\OHVWDE
DQGWKH0RUH([WHQGHG6W\OHVWDE7KHVHWDEVFRQWDLQVHYHUDOFKHFNER[HVDOORIZKLFK
VKRXOGEHXQFKHFNHG
7KH&RQWUROFKHFNER[RQWKH0RUH6W\OHVWDEVHWVWKH'6B&21752/VW\OH7KLVVW\OHDOORZV
WKHXVHUWRXVHWKH7$%NH\WRPRYHEHWZHHQWKHFRQWUROVRQWKHSDUHQWGLDORJZLQGRZDQG
WKRVHRIWKHFKLOGZLQGRZGHILQHGIURPWKHGLDORJWHPSODWHUHVRXUFHV,WDOVRDOORZVWKHXVHU
WRXVHDQ\DFFHOHUDWRUNH\VGHILQHGLQWKHFKLOGZLQGRZ%DVLFDOO\WKLVVW\OHPDNHVIXOO\ LQWHJUDWLQJRXUGLDORJWHPSODWHUHVRXUFHLQWRWKHFRPPRQGLDORJER[PXFKHDVLHU
7KH'ORRNFKHFNER[VHWVWKH'6B'/22.VW\OH$ZLQGRZXVLQJWKLVVW\OHGUDZVLWV
FRQWUROVZLWKD'ERUGHUDQGWKHIRQWIRUWKHZLQGRZZLOOEHQRQEROGDVZHOO7KLVVW\OHLV
UHTXLUHGRQO\IRUDSSOLFDWLRQVFRPSLOHGWRUXQXQGHUYHUVLRQVRI:LQGRZV17EHORZ
:LQGRZV[DQG:LQGRZV17YHUVLRQVDQGDERYHGRQRWUHTXLUHWKLVVW\OHWREHVHWWKH
'ORRNDQGIHHOLVDXWRPDWLFDOO\DSSOLHGWRZLQGRZVUXQQLQJXQGHUWKHVHRSHUDWLQJV\VWHPV
7KHSURSHUWLHVVKRXOGEHFKHFNHGIRUHDFKFRQWURORQWKLVGLDORJDVZHOO)RUHDFKFRQWUROLW
LVDJRRGLGHDWRFKHFNWKH7DEVWRSDQG9LVLEOHFKHFNER[HVRQWKH*HQHUDOWDERIWKH
3URSHUWLHVGLDORJER[$OVRIRUFKHFNER[FRQWUROVWKH$XWRFKHFNER[RQWKH6W\OHVWDE
VKRXOGEHFKHFNHGDVZHOO7KH$XWRFKHFNER[VHWVWKH%6B$872&+(&.%2;VW\OHIRUWKH
FKHFNER[7KLVVW\OHZLOODXWRPDWLFDOO\WRJJOHWKHFKHFNER[WREHFKHFNHGRUXQFKHFNHGHYHU\
WLPHDXVHUFOLFNVLW
7KLVLVDERXWDOOWKDWQHHGVWREHGRQHLQWKH9LVXDO&GLDORJHGLWRU6DYH\RXUZRUNDQG
H[LW9LVXDO&,IWKHHGLWRUFUHDWHVDILOHZLWKDQH[WHQVLRQRWKHUWKDQ5(6\RXVKRXOGFOLFN
WKH)LOH
6DYH$VPHQXLWHPDQGFKRRVHWRVDYHWKHILOHDVW\SH 5(67KHUHVRXUFHILOH
5(6 FUHDWHGE\9LVXDO&ZLOOEHXVHGE\RXUDSSOLFDWLRQWRPRGLI\WKHORRNRIWKH
FRPPRQGLDORJER[
%HFDXVHLWLVPXFKHDVLHUWRXVHDWRROVXFKDVWKHGLDORJ
HGLWRULQ9LVXDO&WRFUHDWHWKHGLDORJWHPSODWHUHVRXUFH ,DPQRWJRLQJWRGHYRWHWLPHWRVKRZLQJ\RXKRZWRFUHDWH DGLDORJUHVRXUFHE\KDQG,I\RXDUHLQWHUHVWHG\RXFDQ
VDYHWKHGLDORJWHPSODWHDVD5HVRXUFH6FULSW5& ILOHE\ FOLFNLQJ)LOH
6DYH$VLQWKH9LVXDO&HGLWRUDQG
FKRRVLQJWRVDYH\RXUGLDORJWHPSODWHDVDQ5& UF ILOH
FKRRVLQJWRVDYH\RXUGLDORJWHPSODWHDVDQ5& UF ILOH 2SHQWKLVILOHLQ1RWHSDGDQGH[DPLQHWKHUHVXOWV7KH
VHFWLRQWKDWLVFRPPHQWHGZLWKWKHZRUG'LDORJLVWKH
VHFWLRQZKHUH\RXUGLDORJUHVRXUFHLVDFWXDOO\GHILQHG7KH UHVRXUFHFRPSLOHU5&(;( WKDWVKLSVZLWK9LVXDO6WXGLR
FDQEHXVHGWRFRPSLOHWKLVUFILOH7KLVLVDFRPPDQGOLQH XWLOLW\WKDWWDNHVDUFILOHDQGFUHDWHVDUHVILOHWKDWFDQEH
OLQNHGWR\RXUDSSOLFDWLRQE\WKH9LVXDO&OLQNHU
,WDOVRZLOOEHKHOSIXOWRVDYHWKHILOHDVDUHVRXUFHVFULSW:KHQDUHVRXUFHLVVDYHGDVD
UHVRXUFHVFULSWILOHDUHVRXUFHK&KHDGHUILOHLVFUHDWHG,QWKLVILOHDUHDOOWKHFRQVWDQWV
WKDW\RXQHHGLQ\RXUDSSOLFDWLRQWRUHIHUHQFHWKHGLDORJWHPSODWHUHVRXUFHDQGWKHFRQWUROV
WKDW\RXSODFHGRQWKLVUHVRXUFH7KHVHFRQVWDQWVZLOOQHHGWREHGHFODUHGLQ\RXU9%
VXEFODVVLQJDSSOLFDWLRQ
0DQLSXODWLQJ&RQWURO3ODFHPHQWRQWKH'LDORJ )ROORZLQJWKHVWHSVDERYHDOORZV\RXWRFUHDWHDUHVRXUFHWKDWZLOOEHGLVSOD\HGDWWKHGHIDXOW
ORFDWLRQLQWKHFRPPRQGLDORJER[7KLVGHIDXOWORFDWLRQZLOODOZD\VEHDWWKHERWWRPRIWKH
GLDORJER[7KHFRPPRQGLDORJER[ZLOOEHUHVL]HGWRDFFRPPRGDWHDOOWKHFRQWUROVRQWKH
FKLOGGLDORJWHPSODWH,QWKHFDVHRIRXUVDPSOHDSSOLFDWLRQWKLVLVSUHFLVHO\ZKDWZHZDQWDV )LJXUHVKRZVDOOWKHFRQWUROVIURPRXUUHVRXUFHILOHVKRXOGDSSHDULQWKHORZHUOHIWFRUQHU
RIWKH6DYH$VGLDORJ
7KLVSODFHPHQWSRVHVDSUREOHPLIDQ\FRQWUROVPXVWEHSODFHGRQWKHOHIWVLGHULJKWVLGHRU
WRSRIWKHFRPPRQGLDORJER[+RZHYHUWKHUHLVDZD\WRWHOOWKHFRPPRQGLDORJER[ZKHUH
\RXZDQWWRSODFHWKHVHFRQWUROV\RXFDQLQFOXGHDVWDWLFWH[WFRQWUROLQ\RXUFXVWRPGLDORJ
ER[WHPSODWHLQ9%WKHVWDWLFWH[WFRQWUROLVUHSUHVHQWHGE\WKH/DEHOFRQWURO DQGDVVLJQLQ
WKHLGHQWLILHUVWF7KLVYDOXHLVGHILQHGLQWKH'OJVKKHDGHUILOHZKLFKLVD:LQGRZV
VXSSOLHGKHDGHUILOHWKDWFRQWDLQVGHILQLWLRQVQHHGHGIRU:LQGRZVGLDORJV :KHQDFKLOG
ZLQGRZKDVDFRQWUROZKRVHLGHQWLILHULVVWF:LQGRZVZLOOSODFHWKHSDUHQWZLQGRZ V
FRQWUROVLQWKHDUHDGHILQHGE\WKHVWFFRQWURODQGZLOOSODFHWKHFKLOGZLQGRZ VFRQWUROVVR
WKDWWKH\KDYHWKHVDPHSRVLWLRQDVWKH\GRUHODWLYHWRWKHVWFFRQWURO:LQGRZVDOVRZLOO
DGGWKHQHFHVVDU\VSDFHWRWKHOHIWULJKWERWWRPDQGWRSRIWKHGLDORJER[WRDFFRPPRGDWH
WKHDGGLWLRQDOFRQWUROV
$TXLFNH[DPSOHZKLFK\RXGRQ WKDYHWRFUHDWHIRU\RXUVHOI VKRZVKRZWKLVZRUNV,PDJLQH
WKDWZHFUHDWHDIRUPWKDWKDVIRXUFRPPDQGEXWWRQVDQGD/DEHOFRQWURO:KHQZHLPSRUWLW
LQWRWKH9LVXDO&UHVRXUFHHGLWRULWDSSHDUVDVLQ)LJXUH1RWHWKDWRXU/DEHOFRQWUROLQ 9%EHFRPHVDVWDWLFWH[WFRQWUROLQ9LVXDO&7KLVFRQWUROZLOOGHILQHWKHDUHDRIWKH
FRPPRQGLDORJER[ZKHUHWKHGHIDXOWFRQWUROVDUHSODFHG%\SODFLQJRXUQHZFRQWUROVDURXQG
WKLVODEHOFRQWUROZHDOORZWKHVHFRQWUROVWREHGUDZQUHODWLYHWRWKHGHIDXOWFRQWUROVRQWKH
FRPPRQGLDORJER[:LQGRZVZLOOWU\WRPDLQWDLQWKHFRUUHODWLRQWKDWWKHGHIDXOWFRQWUROVKDYH
WRWKHVWDWLFWH[WFRQWURO
)LJXUH7KHGLDORJWHPSODWHUHVRXUFHZLWKWKHVWFODEHODGGHG
7RGRWKLVXVHWKHVWDWLFWH[WFRQWURO V3URSHUWLHVGLDORJWRFKDQJHLWVFRQWUROLGHQWLILHUWR
VWF$V, YHPHQWLRQHGWKLVYDOXHLVSUHGHILQHGLQWKH:LQGRZVGLDORJKHDGHUILOH'OJVK,Q
9%WKLVFRQVWDQWLVGHILQHGDV
&RQVWVWF +)
,Q9LVXDO&VWFLVGHILQHGDV
GHILQHVWF[I
)LJXUHVKRZVKRZ:LQGRZVXVHVWKHVWDWLFWH[WFRQWUROWRGHILQHZKHUHWKHQHZFRQWUROV
DUHSODFHG:LQGRZVWULHVWRSODFHDOOWKHVWDQGDUGFRQWUROVLQWKHFRPPRQGLDORJER[LQVLGH
WKHVWDWLFWH[WFRQWURO7KHWRSOHIWFRRUGLQDWHRIWKHDUHDFRQWDLQLQJWKHGHIDXOWFRPPRQ
GLDORJFRQWUROVLVSODFHGDWWKHVDPHORFDWLRQDVWKHWRSOHIWFRRUGLQDWHRIWKHVWDWLFWH[W
FRQWURO,IWKHVWDWLFWH[WFRQWUROFDQKROGDOOWKHGHIDXOWGLDORJFRQWUROVDOOLVILQH,ILQVWHDG
WKHVWDWLFWH[WFRQWUROLVWRRVPDOOWKHKHLJKWDQGZLGWKRIWKHVWDWLFWH[WFRQWURODUHLQFUHDVHG
XQWLODOOWKHGHIDXOWGLDORJFRQWUROVFDQEHSODFHGZLWKLQLW7KHQHZFRQWUROVWKDWDUHDGGHGWR
WKHFRPPRQGLDORJZLOOUHWDLQWKHLUSRVLWLRQUHODWLYHWRWKHWRSOHIWFRUQHURIWKHVWFVWDWLFWH[W
FRQWURO7KLVPHDQVWKDWDQ\FRQWUROVSODFHGDERYHWKHVWDWLFWH[WFRQWUROZLOOEHSODFHGDERYH
WKHGHIDXOWFRQWUROVLQWKHGLDORJFRQWUROVSODFHGWRWKHULJKWRIWKHVWDWLFWH[WFRQWUROZLOOEH
SODFHGWRWKHULJKWRIWKHGHIDXOWFRQWUROVLQWKHGLDORJDQGVRRQ7KHFRPPRQGLDORJER[ZLOO
UHVL]HLWVHOIWRDFFRPPRGDWHWKHQHZFRQWUROV
)LJXUH7KHFRPPRQGLDORJER[FUHDWHGZLWKWKHGLDORJWHPSODWHLQ)LJXUH
8VLQJWKH5HVRXUFH $IWHUWKHUHVRXUFHILOH5(6 LVFUHDWHGWKHUHDUHWZRZD\VWRXVHLWZLWKLQDVXEFODVVLQJ
DSSOLFDWLRQLQ9%7KHILUVWZD\LVWRVLPSO\DGGWKHUHVRXUFHILOHWRWKHDSSOLFDWLRQ7KH
VHFRQGZD\LVWRDGGWKHUHVRXUFHILOHWRD'//DQGORDGWKHUHVRXUFHIURPWKLV'//7KHUHLV
DUHDVRQIRUXVLQJHDFKPHWKRGWRLQFRUSRUDWHDUHVRXUFHLQWRDSURMHFW,IDQDSSOLFDWLRQLV
UXQQLQJLQWKH,'(DWGHVLJQWLPHWKHUHVRXUFHPXVWEHLQD'//:KHQWKHDSSOLFDWLRQLV
UXQQLQJDVDVWDQGDORQH(;(WKHUHVRXUFHFDQEHHPEHGGHGLQWRWKH(;(DVD5(6ILOHRU
LWFDQEHFRQWDLQHGZLWKLQD'//7KLVLVDOLPLWDWLRQRI9%QRWRIWKHUHVRXUFHILOH
1RRWKHUDSSOLFDWLRQFDQDFFHVVWKHGLDORJWHPSODWHUHVRXUFHLILWLVHPEHGGHGZLWKLQWKLV
DSSOLFDWLRQDVD5(6ILOHEHFDXVHWKH\DUHUXQQLQJLQVHSDUDWHSURFHVVHV3ODFLQJD
UHVRXUFHLQDVHSDUDWH'//DOORZVPXOWLSOHDSSOLFDWLRQVWRDFFHVVWKHVDPHUHVRXUFHV$
VLQJOHDSSOLFDWLRQDOVRFDQDFFHVVPXOWLSOHUHVRXUFH'//V
9%KDVWKUHHIXQFWLRQVIRUORDGLQJDQGXVLQJUHVRXUFHV/RDG5HV6WULQJ/RDG5HV'DWDDQG
/RDG5HV3LFWXUH$OWKRXJK/RDG5HV6WULQJDQG/RDG5HV3LFWXUHDUHIXQFWLRQVWKDWORDG
SDUWLFXODUNLQGVRIGDWDVWULQJVDQGLPDJHVUHVSHFWLYHO\ IURPUHVRXUFHILOHV/RDG5HV'DWDLV
DJHQHUDOSXUSRVHIXQFWLRQIRUUHWULHYLQJLWHPVIURPUHVRXUFHILOHV,WVV\QWD[LV
/RDG5HV'DWDUHV,'UHV7\SH
ZKHUHUHV,'LVWKHLGHQWLILHURIWKHUHVRXUFHDQGUHV7\SHLVDQLQWHJHUWKDWLGHQWLILHVWKHW\SH
RIUHVRXUFHWKDW VEHLQJORDGHG7RORDGDGLDORJUHVRXUFH\RXVXSSO\WKH/RDG5HV'DWD
IXQFWLRQZLWKDUHV7\SHYDOXHRILQGLFDWLQJWKDWWKLVLVDGLDORJUHVRXUFH8QIRUWXQDWHO\WKLV
PHWKRGRQO\UHWXUQVDQDUUD\RIE\WHVZKLFK\RXDUHWKHQUHTXLUHGWRSURFHVVWKURXJK\RXU
RZQFRGH$IWHUSURFHVVLQJWKLVLQIRUPDWLRQ\RXKDYHWRFUHDWHWKHGLDORJPDQXDOO\WKURXJK
\RXUFRGH
(YHQWKRXJKWKH/RDG5HV'DWDIXQFWLRQKDVDQLQGH[YDOXH
WRVXSSRUWORDGLQJDGLDORJUHVRXUFH\RXDUHQRWPHDQWWR XVHLWWKLVZD\LQ9%,NQRZWKLVPLJKWVRXQGRGGEXWVHH WKH0LFURVRIWDUWLFOHHQWLWOHG/RDG5HV'DWD)XQFWLRQ'RHV
1RW6XSSRUW$OO)RUPDWV7KH,'RIWKLVDUWLFOHLV4 LQWKH0LFURVRIW'HYHORSHU1HWZRUN06'1
NQRZOHGJHEDVH0D\EHWKLVDUWLFOHZLOOFODULI\WKLQJVIRU\RX
PRUHWKDQLWGLGIRUPH
)RUWXQDWHO\XVLQJRXUGLDORJWHPSODWHUHVRXUFHZLOOQRWEHDSUREOHPIRUXVEHFDXVH
FRPGOJGOOZLOOKDQGOHORDGLQJDQGLQFRUSRUDWLQJWKHGLDORJWHPSODWHUHVRXUFHLQWRWKH
FRPPRQGLDORJER[$OOZHKDYHWRGRLVWHOOFRPGOJGOOZKHUHWKHUHVRXUFHLVORFDWHG,ZLOO
VKRZ\RXKRZWKLVLVGRQHDOLWWOHODWHULQWKLVFKDSWHU
(PEHGGLQJWKH5HVRXUFHLQWKH(;( (PEHGGLQJDUHVRXUFHLQDQH[HFXWDEOHLVDIDLUO\VWUDLJKWIRUZDUGSURFHVV7KHUHVRXUFH
5(6 ILOHQHHGVWREHDGGHGWRWKHSURMHFWE\XVLQJWKH3URMHFW"$GG)LOHPHQXRSWLRQDQG
WKHQWKHSURMHFWQHHGVWREHFRPSLOHGLQWRDQH[HFXWDEOH
(PEHGGLQJWKHUHVRXUFHLQWRDQ(;(PLJKWVLPSOLI\WKHFRGLQJUHTXLUHGDQGPLJKWHYHQ
LQFUHDVHSHUIRUPDQFHRYHUSODFLQJWKHUHVRXUFHLQWRD'//2QHSUREOHPZLWKWKLVPHWKRGLV
WKDWWKHDSSOLFDWLRQPXVWEHUHFRPSLOHGDQ\WLPHRQHRUPRUHUHVRXUFHVDUHFKDQJHG7KLV
FRXOGSRVHDSUREOHPLIWKH(;(ILOHKDVWREHXSGDWHGRQVHYHUDOGLIIHUHQWPDFKLQHVHYHU\
WLPHLWLVUHFRPSLOHG8VH\RXURZQMXGJPHQWZKHQGHFLGLQJZKHWKHUWRSODFHWKHUHVRXUFHV
LQWRWKH(;(RULQWRWKH'//
8VLQJD5HVRXUFHLQD'// $PRUHIOH[LEOHPHWKRGIRUDGGLQJDUHVRXUFHWRDQDSSOLFDWLRQLVWRSDFNDJHLWZLWKLQD'//
:HFDQFUHDWHWKLV'//LQWZRZD\V2QHLVWRXVH9LVXDO&WRFUHDWHWKH'//DQGWKH
RWKHULVWRXVH9%7KDW VULJKWZHFDQFUHDWHDUHVRXUFH'//IURPZLWKLQ9%DORQH,ZLOOJR
WKURXJKWKHFUHDWLRQRIDUHVRXUFH'//IURPERWKGHYHORSPHQWHQYLURQPHQWV &UHDWLQJD9LVXDO&UHVRXUFH'// 7RFUHDWHD&UHVRXUFH'//IROORZWKHVHVWHSV
2SHQ9LVXDO&DQGVHOHFWWKH)LOH GLDORJER[
1HZPHQXLWHP7KLVZLOOGLVSOD\WKH1HZ
2QWKH3URMHFWVWDEVHOHFWWKHLWHP:LQ'\QDPLF/LQN/LEUDU\LQWKHOLVWDQGHQWHU WKHQDPHRIWKH'//LQWKH3URMHFW1DPHILHOGDQGWKHORFDWLRQLQWKH/RFDWLRQILHOG
&OLFNWKH2.EXWWRQ
$'//FUHDWLRQZL]DUGGLDORJZLOOEHGLVSOD\HG6HOHFWWKH$VLPSOH'//SURMHFW UDGLREXWWRQWKHQFOLFNWKH)LQLVKEXWWRQ
7KH1HZ3URMHFW,QIRUPDWLRQGLDORJDSSHDUV&OLFNWKH2.EXWWRQDQGWKHUHVRXUFH '//SURMHFWZLOOEHFUHDWHG
7RDGGWKHUHVRXUFHWRWKLVSURMHFWORFDWHWKH5HVRXUFH)LOHVIROGHULQWKHSURMHFW
ZLQGRZLQ)LOHYLHZDQGULJKWFOLFNLW6HOHFWWKH$GG)LOHVWR)ROGHUVPHQXLWHP
7KH,QVHUW)LOHV,QWR3URMHFWGLDORJER[LVGLVSOD\HG
6HOHFW5HVRXUFH)LOHVLQWKH)LOHVRI7\SHGURSGRZQER[WKHQILQGDQGVHOHFWWKH
5(6ILOHWKDW\RXSUHYLRXVO\FUHDWHGLQ\RXUUHVRXUFHHGLWRURIFKRLFH&OLFNWKH2.
EXWWRQ
7KHUHVRXUFHLVQRZDGGHGWR\RXU&'//&RPSLOHWKLV'//DQGWKHUHVRXUFHZLOO EHDYDLODEOHWRRWKHUDSSOLFDWLRQV
7KLVLVWKHVLPSOHVWZD\WKDW,KDYHIRXQGWRFUHDWHDUHVRXUFH'//LQ9LVXDO& &UHDWLQJD9%UHVRXUFH'// 7KHUHLVQRWPXFKLQYROYHGLQFUHDWLQJDUHVRXUFH'//IURP9%)LUVWVWDUWXS9%DQGFUHDWH
DQHZ$FWLYH;'//SURMHFW:KHQ9%FUHDWHVWKLVSURMHFWLWDOVRFUHDWHVDFODVVPRGXOH
FDOOHG&ODVVZLWKLQWKHSURMHFW(YHQWKRXJKWKHUHLVQRFRGHLQWKLVFODVVLWZLOOQHHGWR
UHPDLQLQWKHSURMHFWEHFDXVH9%UHTXLUHVWKDWDQ\$FWLYH;REMHFW(;('//RU&RQWURO
PXVWFRQWDLQDFODVVPRGXOHWRORDGWKHREMHFWFRUUHFWO\LQWRPHPRU\2WKHUZLVH\RXZLOOJHW
DFRPSLOHUHUURU1RFUHDWDEOHSXEOLFFRPSRQHQWGHWHFWHG ZKHQWU\LQJWRFRPSLOHRUUXQWKLV
SURMHFW
7KHVWHSVWRDGGDUHVRXUFHILOHWRD9%SURMHFWDUH 2SHQDQHZ$FWLYH;'//SURMHFWLQWKH9%,'(7KH6WDUWXS2EMHFWSURSHUW\RIWKH SURMHFWLVVHWWR1RQHE\GHIDXOWIRUDUHVRXUFH'//
5LJKWFOLFNWKH3URMHFWH[SORUHUZLQGRZDQGVHOHFWWKH$GG
LQWKHSRSXSPHQX7KLVZLOOGLVSOD\WKH$GG)LOHGLDORJER[
$GG)LOHPHQXLWHP
,QWKH)LOHVRI7\SHGURSGRZQER[VHOHFWWKH5HVRXUFH)LOHV UHV LWHPWKHQILQG DQGVHOHFWWKHUHVRXUFHILOHWKDW\RXZDQWWRDGGWRWKHSURMHFWDQGFOLFNWKH2SHQ
EXWWRQ
&RPSLOHWKH'//
7RVHHWKHUHVRXUFHILOHORFDWHWKH5HODWHG'RFXPHQWVQRGHLQWKH3URMHFW([SORUHUZLQGRZ
DQGH[SDQGWKDWEUDQFK7KHUHVRXUFHILOHQDPHLVGLVSOD\HGXQGHUWKLVQRGH
9%GRHVQRWSURYLGHDZD\WRGLUHFWO\HGLWUHVRXUFHVZLWKLQWKH,'($QDGGLQVKLSVZLWK9%
WRDOORZWKHFUHDWLRQDQGHGLWLQJRIUHVRXUFHILOHVEXWHYHQWKLVDGGLQZLOOQRWOHW\RXFUHDWHRU
HGLWGLDORJWHPSODWHUHVRXUFHV7KLVOLPLWDWLRQSUHYHQWVXVIURPFUHDWLQJWKHUHVRXUFHHQWLUHO\
ZLWKLQWKH9%HQYLURQPHQW
&UHDWLQJWKH6XEFODVVLQJ$SSOLFDWLRQ 7KHDSSOLFDWLRQZHZLOOFUHDWHLQWKLVVHFWLRQVXEFODVVHVWKH6DYH$VFRPPRQGLDORJER[
7KLVDSSOLFDWLRQKDVRQHIRUPPRGXOHFDOOHGIUP0DLQIUPZKLFKLVGLVSOD\HGLQ)LJXUH
7KHQRQGHIDXOWSURSHUWLHVRIWKLVIRUPDUHOLVWHGLQ7DEOH7KHIRUPFRQWDLQVDFRPPDQG
EXWWRQFRQWUROFDOOHG&RPPDQGDQGDWH[WER[FRQWUROFDOOHG(GLW
)LJXUH7KHPDLQIRUPRIWKHVDPSOHDSSOLFDWLRQ
7DEOH1RQGHIDXOW3URSHUWLHVRIIUP0DLQDQG,WV&RQWUROV &RQWURO1DPH
3URSHUW\1DPH
3URSHUW\9DOXH
IUP0DLQ
&DSWLRQ
&K&RPPRQ'LDORJ6XEFODVVLQJ([DPSOH
IUP0DLQ
%RUGHU6W\OH
)L[HG'LDORJ
IUP0DLQ
7RS
IUP0DLQ
/HIW
IUP0DLQ
+HLJKW
IUP0DLQ
:LGWK
&RPPDQG
&DSWLRQ
'LVSOD\6XEFODVVHG'LDORJ
&RPPDQG
7RS
&RPPDQG
/HIW
&RPPDQG
+HLJKW
&RPPDQG
:LGWK
W[W0VJ
0XOWLOLQH
7UXH
W[W0VJ
7RS
W[W0VJ
/HIW
W[W0VJ
+HLJKW
W[W0VJ
:LGWK
&OLFNLQJWKHEXWWRQFRQWUROFUHDWHVD6DYH$VFRPPRQGLDORJER[VXEFODVVHVLWDQGGLVSOD\V
LW7KH6DYH$VGLDORJLVPRGLILHGWRLQFOXGHWKHH[WUDFRQWUROVWKDWDUHFRQWDLQHGLQRXU
UHVRXUFH'//7KLVGLDORJLVGLVSOD\HGLQ)LJXUH
)LJXUH7KHVXEFODVVHG6DYH$VFRPPRQGLDORJER[
7KHILUVWWKLQJ\RXPLJKWQRWLFHDERXWWKLVQHZGLDORJLVWKDWWKHFDSWLRQRIWKLVGLDORJKDV
EHHQFKDQJHGWR([SRUW$V6XEFODVVHG&RPPRQ'LDORJ $GGLWLRQDO8,FKDQJHVGHULYH
IURPWKHFKLOGGLDORJWHPSODWHXVHGWRFUHDWHWKHFRQWUROVDWWKHERWWRPRIWKHGLDORJER[
7KHVHFRQWUROVKDYHQRUHDOIXQFWLRQDOLW\7KHEXWWRQFRQWUROZLWKWKHFDSWLRQ&OLFN0H
VLPSO\GLVSOD\VDPHVVDJHER[LQGLFDWLQJWKDWWKHEXWWRQKDVEHHQFOLFNHG7KH8VH
3UHGHILQHG'HOLPLWHUFKHFNER[DOORZVWKHXVHUWRVZLWFKEHWZHHQGLVSOD\LQJDQHGLWER[
VKRZQLQ)LJXUH DQGDGURSGRZQOLVWER[,IWKLVZHUHDUHDOZRUNLQJH[DPSOHWKHHGLW
ER[ZRXOGDOORZDXVHUWRHQWHULQDGHOLPLWHURIKLVRUKHURZQFKRLFH+RZHYHULIWKH
FKHFNER[LVFKHFNHGWKHGURSGRZQOLVWER[LVGLVSOD\HGDOORZLQJWKHXVHUWRFKRRVHIURP
IRXUSUHGHILQHGGHOLPLWHUV
7KLVSURMHFWFRQVLVWVRIDIRUPIUP0DLQIUP DQGDFRGHPRGXOH0RGXOHEDV ,WDOVRXVHV
WKHUHVRXUFH'//WKDWZDVFUHDWHGHDUOLHULQWKLVFKDSWHU7KHUHVRXUFH'//LVQDPHG
'OJ5HVB9%'//
7KH&RGH%HKLQGWKHIUP0DLQIUP0RGXOH 1RWPXFKFRGHLVFRQWDLQHGLQWKHIRUPRQO\EHKLQGWKH&RPPDQGEXWWRQWKDWFDOOVWKH
6WDUWSURFHGXUHLQWKH0RGXOHEDVPRGXOH7KHFRGHIRUWKHIRUPLVVKRZQLQ([DPSOH
([DPSOH7KH&RPPDQGB&OLFN(YHQW3URFHGXUH 3ULYDWH6XE&RPPDQGB&OLFN &DOO6WDUW0HKZQG
(QG6XE
7KH&RGH%HKLQGWKH0RGXOHEDV0RGXOH 7KLVVHFWLRQGHVFULEHVWKHFRGHWKDWFUHDWHVWKHGLDORJDQGSHUIRUPVWKHVXEFODVVLQJ,ZLOO
VWDUWRXWE\GHVFULELQJVRPHRIWKHILQHUSRLQWVRIWKHGLDORJFUHDWLRQVWUXFWXUHDVLWUHODWHVWR
VXEFODVVLQJWKHFRPPRQGLDORJ1H[W,ZLOOVKRZ\RXWKHFRGHIRUWKLVPRGXOHDQGILQDOO\,
ZLOOHQGZLWKDGHWDLOHGGLVFXVVLRQRIWKHVXEFODVVSURFHGXUH 7KHGLDORJFUHDWLRQVWUXFWXUH
7REHFUHDWHGHYHU\FRPPRQGLDORJKDVDVWUXFWXUHWKDWPXVWEHILOOHGLQZLWKGDWD)RUWKH
6DYH$VGLDORJWKLVLVWKH23(1),/(1$0(VWUXFWXUH%HIRUHZHFRQWLQXHZHPXVWEHFRPH
IDPLOLDUZLWKDIHZPHPEHUVLQWKLVVWUXFWXUH
7KH)ODJVPHPEHUFRQWDLQVVSHFLILFIODJVXVHGWRGHILQHWKHDSSHDUDQFHDQGEHKDYLRURIWKLV
FRPPRQGLDORJER[7KHIODJVWKDW\RXZLOOQHHGWREHFRQFHUQHGDERXWZKHQVXEFODVVLQJWKH
6DYH$VFRPPRQGLDORJ&RQVWVWDWHPHQWVIRUDOORIZKLFKVKRXOGEHDGGHGWR\RXUSURMHFW
DUH OFN_ENABLEHOOK (&H20 )
$OORZVWKHFRPPRQGLDORJKRRNSURFHGXUHWREHFDOOHGRQO\LIWKHOSIQ+RRNVWUXFWXUH
PHPEHUSRLQWVWRDKRRNSURFHGXUH OFN_ENABLETEMPLATE (&H40 )
:KHQWKHGLDORJWHPSODWHUHVRXUFHLVFRQWDLQHGZLWKLQWKHDSSOLFDWLRQRUZLWKLQD
UHVRXUFH'//WKLVIODJLQGLFDWHVWKDWWKHK,QVWDQFHPHPEHURIWKHVWUXFWXUHLVVHWWR
WKHLQVWDQFHKDQGOHRIWKHDSSOLFDWLRQ$SSK,QVWDQFH OFN_ENABLETEMPLATEHANDLE (&H80 )
:KHQWKHGLDORJWHPSODWHUHVRXUFHLVDOUHDG\VHWLQDVHFWLRQRIPHPRU\WKLVIODJFDQ
EHXVHGWRREWDLQWKDWUHVRXUFH,QWKLVFDVHWKHK,QVWDQFHVWUXFWXUHPHPEHUQHHGV
WREHVHWWRWKHKDQGOHRIWKHPHPRU\REMHFWIRUWKHFRPPRQGLDORJWREHGLVSOD\HG
FRUUHFWO\7KLVIODJRYHUULGHVWKH2)1B(1$%/(7(03/$7(IODJLIERWKDUHVHW OFN_EXPLORER (&H800000 )
7KLVIODJLVUHTXLUHGWRGLVSOD\WKHQHZ([SORUHUVW\OHFRPPRQGLDORJER[HVVHHQLQ
:LQGRZV179HUVLRQDQG:LQGRZV[7KLVIODJDOVRPXVWEHVHWZKHQDGGLQJD
KRRNSURFHGXUHRUDGLDORJWHPSODWHWRDQ2SHQRU6DYH$VFRPPRQGLDORJER[7R
VWD\FXUUHQWZLWK\RXU8,,VXJJHVWWKDW\RXDOZD\VXVHWKLVIODJ OFN_ENABLEINCLUDENOTIFY (&H400000 )
(QDEOHVWKHFRPPRQGLDORJER[WRVHQG&'1B,1&/8'(,7(0QRWLILFDWLRQPHVVDJHV
WRWKHKRRNSURFHGXUHGHILQHGLQWKHOSIQ+RRNVWUXFWXUHPHPEHU7KLVPHVVDJHLV
VHQWRQFHIRUHDFKLWHPLQDIROGHUZKHQWKHXVHURSHQVWKDWVSHFLILFIROGHULQWKH
2SHQRU6DYH$VFRPPRQGLDORJER[HV,QWKHKRRNSURFHGXUHD]HURFDQEH
UHWXUQHGLI\RXGRQRWZDQWWKDWLWHPWREHGLVSOD\HGLQWKHILOHOLVWYLHZFRQWURORIWKH
FRPPRQGLDORJER[2WKHUZLVHVHQGDQRQ]HURYDOXHWRGLVSOD\WKHLWHPLQWKLV
FRQWURO7KLVIODJLVXVHGRQO\LQ:LQGRZV:LQGRZV17DQG:LQGRZV[GRQRW
XVHWKLVIODJ7KLVQRWLILFDWLRQFRGHZLOOVWLOOEHVHQWWRWKHGLDORJKRRNSURFHGXUHLQ
:LQGRZV17DQG[EXWWKHUHWXUQYDOXHPHDQVQRWKLQJWRWKHVHRSHUDWLQJV\VWHPV
)RUWKHSXUSRVHRIRXUVXEFODVVLQJH[DPSOH,ZLOOEHVHWWLQJWKH2)1B(;3/25(5
2)1B(1$%/(+22.2)1B(1$%/(7(03/$7(DQG2)1B(1$%/(,1&/8'(127,)<
IODJV%HFDXVHWKHGLDORJWHPSODWHUHVRXUFHLVLQD'//WKH2)1B(1$%/(7(03/$7(IODJ
PXVWEHXVHGLQVWHDGRIWKH2)1B(1$%/(7(03/$7(+$1'/(IODJ7KH
2)1B(1$%/(,1&/8'(127,)<IODJLVVHWWRHQVXUHIRUZDUGFRPSDWLELOLW\ZLWK:LQGRZV
7KHOSIQ+RRNPHPEHULQWKH23(1),/(1$0(VWUXFWXUHKROGVDIXQFWLRQSRLQWHUWRWKH
FRPPRQGLDORJKRRNSURFHGXUH7KHUHLVRQHSUREOHPKHUHLQ9%ZHXVHWKH$GGUHVV2I
RSHUDWRUWRJHWDIXQFWLRQSRLQWHU7KH$GGUHVV2IRSHUDWRUPXVWEHXVHGLQWKHSDUDPHWHUOLVW
RIDIXQFWLRQFDOO:HQHHGDZD\IRU9%WRJHWWKHIXQFWLRQSRLQWHUWRRXUKRRNSURFHGXUHLQWR
WKLVPHPEHURIWKHVWUXFWXUH$GGUHVV2IZDVQRWVSHFLILFDOO\GHVLJQHGWRGRWKLVEXWWKHUHLV
DQLQWHUHVWLQJZRUNDURXQGIRUWKLVSUREOHP$VZHNQRZWKLVFRGHZLOOSURGXFHDQHUURU
'LP)XQFW3WU$V/RQJ
)XQFW3WU $GGUHVV2I2)1+RRN3URF
,QVWHDGZHQHHGWRFUHDWHDIXQFWLRQVXFKDVWKHIROORZLQJRQHWKDWUHWXUQVWKHDGGUHVV
SDUDPHWHULQWKLVH[DPSOHLWLV)XQFW$GGU SDVVHGLQWRWKLVIXQFWLRQ
)XQFWLRQ6DYH$V3URF)XQFW$GGU$V/RQJ $V/RQJ 6DYH$V3URF )XQFW$GGU
(QG)XQFWLRQ
7KLVIXQFWLRQLVWKHQFDOOHGXVLQJWKHIROORZLQJOLQHRIFRGH
'LP)XQFW3WU$V/RQJ
)XQFW3WU 6DYH$V3URF$GGUHVV2I2)1+RRN3URF
7KLVOLQHFDOOV6DYH$V3URFDQGSDVVHVWRLWWKHDGGUHVVRIWKH6DYH$V3URFIXQFWLRQ7KLV
IXQFWLRQZLOOUHVLGHLQRQHRIRXUFRGH%$6 PRGXOHV7KHIXQFWLRQVLPSO\SDVVHVEDFNWKH
DGGUHVVRIWKH2)1+RRN3URFIXQFWLRQWRWKH)XQFW3WUYDULDEOH1RZWKDWZHKDYHDYDOLG
YDOXHLQWKH)XQFW3WUYDULDEOHZHFDQVLPSO\VHWWKHOSIQ+RRNVWUXFWXUHPHPEHUHTXDOWRWKH
)XQFW3WUYDULDEOH
7KHFRPPRQGLDORJER[XVHVWKHOS7HPSODWH1DPHPHPEHURQO\LIWKH
2)1B(1$%/(7(03/$7(IODJLVVHWLQWKH)ODJVPHPEHURIWKH23(1),/(1$0(VWUXFWXUH
7RSODFHDYDOXHLQWKHOS7HPSODWH1DPHPHPEHUZHILUVWQHHGWRJREDFNWRWKHUHVRXUFHILOH
WKDWZHFUHDWHGLQWKH9LVXDO&UHVRXUFHHGLWRU:KHQZHVDYHGWKLVILOHDVDUHVRXUFH VFULSWJLYLQJWKHUHVRXUFHILOHDQH[WHQVLRQRIUF WKHUHVRXUFHHGLWRUDOVRFUHDWHGD
UHVRXUFHKKHDGHUILOH2SHQLQJWKLVILOHUHYHDOVWKHFRQVWDQWVIRUWKHGLDORJWHPSODWHLWVHOIDV
ZHOODVIRUHDFKFRQWURORQWKLVGLDORJ7KLVLQIRUPDWLRQLVSUHVHQWHGDVDOLVWRIGHILQH
VWDWHPHQWVLQWKHUHVRXUFHKILOH7KHGHILQHVIRXQGLQWKHUHVRXUFHKILOHIRUWKHH[DPSOH
SUHVHQWHGLQWKLVFKDSWHUDUH
GHILQH,''B',$/2*
GHILQH,'&B(',7
GHILQH,'&B&+(&.
GHILQH,'&B%87721
GHILQH,'&B&20%2
:HQHHGWRFRS\DOOWKHVHGHILQHVDQGDGGWKHPDV&RQVWVWDWHPHQWVWRRXU0RGXOHEDV PRGXOH7KH9%FRGHORRNVVRPHWKLQJOLNHWKLV
&RQVW,''B',$/2*
&RQVW,'&B(',7
&RQVW,'&B&+(&.
&RQVW,'&B%87721 &RQVW,'&B&20%2
7KH,''B',$/2*FRQVWDQWLVWKHRQHZHDUHORRNLQJIRU7KLVFRQVWDQWLVWKHLGHQWLILHUIRU
WKHGLDORJWHPSODWHUHVRXUFHWKDWZHZDQWWRDGGWRWKHFRPPRQGLDORJER[7KH
OS7HPSODWH1DPHPHPEHUQHHGVWREHVHWHTXDOWRWKLVFRQVWDQWVRWKDW:LQGRZVZLOONQRZ
ZKLFKGLDORJUHVRXUFHLQWKHDSSOLFDWLRQ VSURFHVVVSDFHWRDGGWRWKHGHIDXOWFRPPRQGLDORJ
ER[7KHPLQLPXPUHTXLUHPHQWWRDGGDGLDORJWHPSODWHUHVRXUFHWRDFRPPRQGLDORJLVWR
VHWWKH2)1B(1$%/(7(03/$7(IODJLQWKH)ODJVPHPEHURIWKH23(1),/(1$0(VWUXFWXUH
DQGDOVRWRVHWWKHOS7HPSODWH1DPHPHPEHURIWKLVVDPHVWUXFWXUHWRWKHGLDORJWHPSODWH
UHVRXUFH,'IRXQGLQWKHUHVRXUFHKILOH2WKHUZLVHDQHUURUZLOOEHUDLVHGZKHQWKHV\VWHP WULHVWRILQGDYDOLGGLDORJUHVRXUFH
7KHODVWVWUXFWXUHPHPEHU,ZDQWWRORRNDWLVQRWUHTXLUHGIRUVXEFODVVLQJDFRPPRQGLDORJ
ER[EXWLWFDQEHXVHIXOLQVHQGLQJLQIRUPDWLRQEDFNDQGIRUWKIURPWKHDSSOLFDWLRQWRWKH
FRPPRQGLDORJER[7KLVLVWKHO&XVW'DWDPHPEHUZKLFKFDQFRQWDLQGDWDRIW\SH/RQJRUD
SRLQWHU7KHUHDVRQ,DPLQFOXGLQJLWKHUHLVWKDWWKLVGDWDLVDYDLODEOHWRWKHGLDORJKRRN
SURFHGXUHZKHQDPHVVDJHWKDWWKHKRRNLQWHUFHSWVFRQWDLQVDSRLQWHUWRWKLV
23(1),/(1$0(VWUXFWXUH7DNHIRULQVWDQFHWKH&'1B,1,7'21(PHVVDJHWKDWLVVHQWWR
WKHGLDORJKRRNSURFHGXUHZKHQLWLVILQLVKHGSODFLQJWKHFRQWUROVRQWKHGLDORJER[7KLV
PHVVDJHKDVDQO3DUDPSDUDPHWHUWKDWFRQWDLQVDSRLQWHUWRDQ2)127,)<VWUXFWXUH7KH
2)127,)<VWUXFWXUHFRQWDLQVDSRLQWHUWRWKH23(1),/(1$0(VWUXFWXUHZLWKLQLWVOS2)1
PHPEHU7KHGDWDVDYHGE\WKHDSSOLFDWLRQLQWKHO&XVW'DWDPHPEHURIWKH23(1),/(1$0(
VWUXFWXUHLVWKXVDYDLODEOHWRWKHGLDORJKRRNSURFHGXUHWKURXJKWKLVPHVVDJHDVZHOODV
WKURXJKDQ\RWKHUPHVVDJHWKDWKDVDSRLQWHUWRWKH23(1),/(1$0(VWUXFWXUH
7KHPHPEHUVRIWKH23(1),/(1$0(VWUXFWXUHDOVRDUHXSGDWHGZKHQFRQWUROVUHWXUQIURP
WKH*HW6DYH)LOH1DPHIXQFWLRQ7KHO&XVW'DWDPHPEHURIWKLVVWUXFWXUHFDQEHFKDQJHG
ZLWKLQWKHGLDORJKRRNSURFHGXUH:KHQWKLVVWUXFWXUHLVSDVVHGEDFNWRWKHFDOOLQJ
DSSOLFDWLRQLWFDQUHWULHYHDQ\LQIRUPDWLRQWKDWWKHGLDORJKRRNSURFHGXUHKDVSODFHGWKHUH
7KLVFDQEHXVHIXOLQVROYLQJWKHSUREOHPRISDVVLQJLQIRUPDWLRQEDFNDQGIRUWKEHWZHHQWKH
PDLQDSSOLFDWLRQDQGLWVFRPPRQGLDORJER[DQGHVSHFLDOO\LWV&DQFHOEXWWRQ 7KHFRGHIRUWKH0RGXOHEDVPRGXOH 7KHFRGHIRUWKLVPRGXOHLVVKRZQLQ([DPSOH ([DPSOH&RGHIRUWKH0RGXOHEDV0RGXOH
&UHDWHDQGVXEFODVVWKH6DYH$V
&RPPRQGLDORJER[
6XE6WDUW2ZQHU+:QG$V/RQJ
'LP&RPPRQ'LDORJ6WUXFW$V2SHQ)LOHQDPH
'LP5HW9DO$V/RQJ
:LWK&RPPRQ'LDORJ6WUXFW
O6WUXFW6L]H /HQ&RPPRQ'LDORJ6WUXFW
KZQG2ZQHU 2ZQHU+:QG
OSIQ+RRN *HW$GGUHVV2I$GGUHVV2I6DYH$V3URF
OS7HPSODWH1DPH ,''B',$/2*
OSVWU)LOWHU $OO)LOHV &KU &KU &KU
Q)LOWHU,QGH[
OSVWU)LOH &KU 6SDFH
Q0D[)LOH /HQOSVWU)LOH
OSVWU7LWOH ([SRUW$V6XEFODVVHG&RPPRQ'LDORJ
IODJV 2)1B),/(0867(;,672UB
2)1B6+2:+(/32UB
2)1B(;3/25(52UB
2)1B(1$%/(+22.2UB
2)1B(1$%/(7(03/$7(2UB
2)1B(1$%/(,1&/8'(127,)<
K,QVWDQFH /RDG/LEUDU\$SS3DWK ?'OJ5HVB9%GOO
)ODJV([
(QG:LWK
5HW9DO *HW6DYH)LOH1DPH&RPPRQ'LDORJ6WUXFW
,I5HW9DO 7KHQ
0VJ%R[7KH&DQFHOEXWWRQZDVFOLFNHG
(OVH,I5HW9DO 7KHQ
0VJ%R[7ULP&RPPRQ'LDORJ6WUXFWOSVWU)LOH (OVH
HUURU
0VJ%R[&RPP'OJ([WHQGHG(UURU (QG,I
)UHH/LEUDU\&RPPRQ'LDORJ6WUXFWK,QVWDQFH
(QG6XE
+HOSHUIXQFWLRQV
)XQFWLRQ*HW$GGUHVV2I%\9DO3URF$GGU$V/RQJ $V/RQJ *HW$GGUHVV2I 3URF$GGU (QG)XQFWLRQ
3XEOLF)XQFWLRQ*HW+L:RUG%\5HI9DOXH$V/RQJ $V/RQJ
,I9DOXH$QG + +7KHQ
*HW+L:RUG 9DOXH$QG +))) ? + 2U +
(OVH
*HW+L:RUG 9DOXH$QG +)))) ? +
(QG,I
(QG)XQFWLRQ
3XEOLF)XQFWLRQ*HW/R:RUG%\5HI9DOXH$V/RQJ $V/RQJ
*HW/R:RUG 9DOXH$QG +)))) (QG)XQFWLRQ
7KH6XEFODVV3URFHGXUH
3XEOLF)XQFWLRQ6DYH$V3URF%\9DOKZQG$V/RQJ%\9DOX0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
'LP10+6WUXFW$V10+'5 'LPO&RQWH[W$V/RQJ 'LPO7HPS$V/RQJ
'LPO1RWLILFDWLRQ&RGH$V/RQJ 'LPO&RQWURO,'$V/RQJ 'LPK&WUO$V/RQJ
'LPO5HW9DO$V/RQJ
6DYH$V3URF
6HOHFW&DVHX0VJ
&DVH:0B,1,7',$/2*
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG :0B,1,7',$/2* B
YE1HZ/LQH
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W 'LDORJPRGLILFDWLRQVFDQ B
RFFXUKHUHEHIRUHLWLVVKRZQ YE1HZ/LQH
'R(YHQWV
,QLWWKHFRPERER[LWHPV
K&WUO *HW'OJ,WHPKZQG,'&B&20%2
O5HW9DO 6HQG0HVVDJH6WUK&WUO&%B,16(57675,1*
O5HW9DO 6HQG0HVVDJH/RQJK&WUO&%B6(7,7(0'$7$ O5HW9DO 6HQG0HVVDJH6WUK&WUO&%B,16(57675,1*
O5HW9DO 6HQG0HVVDJH/RQJK&WUO&%B6(7,7(0'$7$ O5HW9DO 6HQG0HVVDJH6WUK&WUO&%B,16(57675,1*
O5HW9DO 6HQG0HVVDJH/RQJK&WUO&%B6(7,7(0'$7$ O5HW9DO 6HQG0HVVDJH6WUK&WUO&%B,16(57675,1*
O5HW9DO 6HQG0HVVDJH/RQJK&WUO&%B6(7,7(0'$7$ O5HW9DO 6HQG0HVVDJH/RQJK&WUO&%B6(7&856(/
&DVH:0B127,)<
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W :0B127,)<! 'R(YHQWV
&RS\0HPRU\10+6WUXFW%\9DOO3DUDP/HQ%10+6WUXFW
6HOHFW&DVH10+6WUXFWFRGH &DVH&'1B,1&/8'(,7(0
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
&'1B,1&/8'(,7(0 YE1HZ/LQH
'R(YHQWV
&DVH&'1B,1,7'21(
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
&'1B,1,7'21( YE1HZ/LQH 'R(YHQWV
&DVH&'1B6(/&+$1*(
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
&'1B6(/&+$1*( YE1HZ/LQH
'R(YHQWV
&DVH&'1B)2/'(5&+$1*(
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
&'1B)2/'(5&+$1*( YE1HZ/LQH
'R(YHQWV
&DVH&'1B+(/3
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
&'1B+(/3 YE1HZ/LQH
'R(YHQWV
&DVH&'1B),/(2.
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
&'1B),/(2. YE1HZ/LQH
'R(YHQWV
&DVH&'1B6+$5(9,2/$7,21
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
&'1B6+$5(9,2/$7,21 YE1HZ/LQH
'R(YHQWV
&DVH&'1B7<3(&+$1*(
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
&'1B7<3(&+$1*( YE1HZ/LQH
'R(YHQWV &DVH(OVH
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
&6WUX0VJ YE1HZ/LQH
(QG6HOHFW
&DVH:0B&200$1'
O1RWLILFDWLRQ&RGH *HW+L:RUGZ3DUDP 6HOHFW&DVHO1RWLILFDWLRQ&RGH &DVH(1B&+$1*(
O&RQWURO,' *HW/R:RUGZ3DUDP 6HOHFW&DVHO&RQWURO,'
&DVH,'&B(',7
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
,'&B(',7!(1B&+$1*(' YE1HZ/LQH
'R(YHQWV (QG6HOHFW
&DVH(1B.,//)2&86
O&RQWURO,' *HW/R:RUGZ3DUDP 6HOHFW&DVHO&RQWURO,'
&DVH,'&B(',7
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
,'&B(',7!(1B.,//)2&86 YE1HZ/LQH
'R(YHQWV (QG6HOHFW
&DVH(1B6(7)2&86
O&RQWURO,' *HW/R:RUGZ3DUDP 6HOHFW&DVHO&RQWURO,'
&DVH,'&B(',7
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
,'&B(',7!(1B6(7)2&86 YE1HZ/LQH
'R(YHQWV (QG6HOHFW
&DVH%1B&/,&.('
O&RQWURO,' *HW/R:RUGZ3DUDP 6HOHFW&DVHO&RQWURO,'
&DVH,'&B%87721
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
,'&B%87721!%1B&/,&.(' YE1HZ/LQH
'R(YHQWV
$PHVVDJHER[LVQRWDUHDOO\JRRGWKLQJ
WRKDYHLQDKRRNIXQFWLRQ
0VJ%R[7KHEXWWRQKDVEHHQFOLFNHG
&DVH,'&B&+(&.
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
,'&B&+(&.!%1B&/,&.(' YE1HZ/LQH
'R(YHQWV
'RVRPHWKLQJWRWKH8,
,I&%RRO6HQG0HVVDJH/RQJO3DUDP%0B*(7&+(&. 7KHQ K&WUO *HW'OJ,WHPKZQG,'&B(',7
&DOO6KRZ:LQGRZK&WUO6:B+,'(
K&WUO *HW'OJ,WHPKZQG,'&B&20%2
&DOO6KRZ:LQGRZK&WUO6:B6+2:
(OVH
K&WUO *HW'OJ,WHPKZQG,'&B&20%2
&DOO6KRZ:LQGRZK&WUO6:B+,'(
K&WUO *HW'OJ,WHPKZQG,'&B(',7
&DOO6KRZ:LQGRZK&WUO6:B6+2:
(QG,I
(QG6HOHFW
&DVH&%1B&/26(83
O&RQWURO,' *HW/R:RUGZ3DUDP 6HOHFW&DVHO&RQWURO,'
&DVH,'&B&20%2
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
,'&B&20%2!&%1B&/26(83 YE1HZ/LQH
'R(YHQWV (QG6HOHFW &DVH(OVH
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W B
8QKDQGOHGQRWLILFDWLRQPHVVDJH YE1HZ/LQH
'R(YHQWV (QG6HOHFW
&DVH:0B'(6752<
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
:0B'(6752< YE1HZ/LQH
&DVH:0B1&'(6752<
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
:0B1&'(6752< YE1HZ/LQH
(QG6HOHFW
(QG)XQFWLRQ
7KH6WDUWSURFHGXUHLQLWLDOL]HVWKH23(1),/(1$0(VWUXFWXUHFDOOVWKH:LQ
*HW6DYH)LOH1DPHIXQFWLRQDQGXQORDGVWKHUHVRXUFH'//DIWHUWKHVXEFODVVHGFRPPRQ
GLDORJLVFORVHG7KH6DYH$V3URFSURFHGXUHLVWKHGLDORJKRRNSURFHGXUHLQWKHQH[WVHFWLRQ
ZH OOGLVFXVVKRZWKHGLDORJKRRNSURFHGXUHZRUNVDQGKRZPHVVDJHVDUHSDVVHGRQLW 7KHGLDORJKRRNSURFHGXUH &DSWXULQJPHVVDJHVIURPWKHGLDORJWHPSODWHUHVRXUFHLVWKHMRERIWKHGLDORJKRRN
SURFHGXUH7KHGLDORJKRRNSURFHGXUHLVVLPLODUWRWKHVXEFODVVHGZLQGRZSURFHGXUHWKDWZH
GLVFXVVHGLQWKHHDUOLHUFKDSWHUV%XWZHGRQRWFDOOLWDVXEFODVVHGGLDORJSURFHGXUHEHFDXVH
DVXEFODVVHGGLDORJSURFHGXUHFDSWXUHVPHVVDJHVERXQGIRUDGLDORJEHIRUHWKHGLDORJ V
RULJLQDOZLQGRZSURFHGXUHFDQSURFHVVWKHPHVVDJH7KHVXEFODVVHGZLQGRZSURFHGXUHWKHQ
SDVVHVWKHPHVVDJHRQWRWKHRULJLQDOZLQGRZSURFHGXUHWKURXJKWKH&DOO:LQGRZ3URF$3,
FDOO7KHGLDORJKRRNSURFHGXUHWKDWZHZLOOXVHLQWKLVFKDSWHUFDSWXUHVPHVVDJHVEHIRUH
WKH\UHDFKWKHGLDORJSURFHGXUHDQGDIWHUWKH\KDYHEHHQSURFHVVHGE\WKHGLDORJSURFHGXUH
7KHGLDORJKRRNSURFHGXUHZLOOFDSWXUHQRWLILFDWLRQPHVVDJHVVHQWE\WKHFRPPRQGLDORJER[
DQGPHVVDJHVIRUWKHFRQWUROVDGGHGWRWKHGLDORJWHPSODWHUHVRXUFH
7KHFRPGOJGOOILOHZLOOKDQGOHURXWLQJPHVVDJHVWRWKHGHIDXOWGLDORJSURFHGXUHVRWKDWWKH
GLDORJKRRNSURFHGXUHZLOOQRWKDYHWR,QVWHDGRIFDOOLQJDQ$3,IXQFWLRQWRSDVVWKHPHVVDJH
RQDVLWZRXOGGRLQDVXEFODVVHGZLQGRZSURFHGXUHWKHGLDORJKRRNSURFHGXUHUHWXUQVD
YDOXHLQGLFDWLQJZKHWKHULWSURFHVVHGWKHPHVVDJH
+RRNSURFHGXUHQDPHVIRUHDFKW\SHRIFRPPRQGLDORJER[DUHOLVWHGLQ7DEOH7KHVHDUH VWDQGDUGQDPHV\RXFDQXVH\RXURZQQDPHVIRUWKHVHGLDORJKRRNSURFHGXUHVLI\RXZDQW 7DEOH+RRN3URFHGXUHVIRU(DFK7\SHRI&RPPRQ'LDORJ%R[ &RPPRQ'LDORJ7\SH
+RRN3URFHGXUH1DPH5HFRPPHQGHG
&RORU
&&+RRN3URF
)LQG
)5+RRN3URF
5HSODFH
)5+RRN3URF
)RQW
&)+RRN3URF
2SHQ
2)1+RRN3URF
6DYH$V
2)1+RRN3URF
3ULQW
3ULQW+RRN3URF
3DJH6HWXS
3DJH6HWXS+RRNRU3DJH3DLQW+RRN
1RWHLQ7DEOHWKDWWKH3DJH6HWXSGLDORJER[LVQRZXVHGLQVWHDGRIWKHRXWGDWHG3ULQW
6HWXSGLDORJER[$OVRWKH3DJH6HWXSFRPPRQGLDORJER[FDQKDYHWZRKRRNV
3DJH6HWXS+RRNLVWKHGLDORJKRRNSURFHGXUHXVHGWRUHFHLYHPHVVDJHVIURPWKHFKLOGGLDORJ
FRQWUROVDQGWRUHFHLYHQRWLILFDWLRQFRGHVIURPWKHSDUHQWGLDORJ7KLVKRRNSURFHGXUHLV
VLPLODUWRWKHRWKHUKRRNSURFHGXUHVOLVWHGLQWKLVWDEOH7KH3DJH3DLQW+RRNSURFHGXUHDOORZV
PRGLILFDWLRQVWREHPDGHWRWKHVDPSOHSDJHREMHFWIRXQGLQWKH3DJH6HWXSFRPPRQGLDORJ
ER[:LWKWKLVVHFRQGKRRNSURFHGXUHWKHPHVVDJHVWRGUDZPDUJLQVSDSHUVL]HVDQG HQYHORSHLWHPVFDQEHLQWHUFHSWHGDQGFKDQJHG
7KHSDUHQWGLDORJER[GRHVQRWVHQGPHVVDJHVRULJLQDWLQJIURPWKHGHIDXOWFRQWUROVWRWKH
GLDORJKRRNSURFHGXUH,QVWHDGQRWLILFDWLRQPHVVDJHVDUHVHQWWRWKHGLDORJKRRNSURFHGXUH
ZKLFKDOORZLWWRJHWLQIRUPDWLRQDERXWDVXEVHWRIWKHXVHU VDFWLRQVZLWKLQWKHSDUHQWGLDORJ
ER[)RUH[DPSOHZKHQWKHXVHUFKDQJHVIROGHUVLQDQ2SHQFRPPRQGLDORJER[HYHU\
PRXVHRUNH\ERDUGHYHQWLVQRWSDVVHGLQWRWKHGLDORJKRRNSURFHGXUHUDWKHUDQRWLILFDWLRQ
FRGH&'1B)2/'(5&+$1*( LVVHQWWRWKHKRRNYLDWKH:0B127,)<PHVVDJHGHVFULEHG
VKRUWO\
7RVHHKRZPHVVDJLQJZRUNVLQDVXEFODVVHGFRPPRQGLDORJER[VHH)LJXUH,QWKLV GLDJUDPDFRQWURORQWKHFKLOGGLDORJZLOOVHQGDQRWLILFDWLRQFRGHZUDSSHGLQD
:0B&200$1'PHVVDJHWRLWVSDUHQW 7KHFKLOGGLDORJWKHQSDVVHVWKLV
:0B&200$1'PHVVDJHRQWRWKHGLDORJKRRNSURFHGXUH 7KHGLDORJKRRNSURFHGXUH
PLJKWRUPLJKWQRWSDVVWKH:0B&200$1'PHVVDJHRQWRWKHGHIDXOWGLDORJSURFHGXUH
GHSHQGLQJRQLWVUHWXUQYDOXH
7KHSDUHQWGLDORJER[ZLOOUHFHLYHQRWLILFDWLRQVIURPLWVFKLOGFRQWUROV 7KHVHQRWLILFDWLRQV
JRWRWKHGHIDXOWGLDORJSURFHGXUH XQOHVVWKH\DUHVSHFLDOGLDORJKRRNQRWLILFDWLRQFRGHV
ZUDSSHGLQVLGHD:0B127,)<PHVVDJH7KHVHPHVVDJHVQHHGWREHVHQWILUVWWRWKHGLDORJ
KRRNSURFHGXUHDQGWKHQRQWRWKHGHIDXOWGLDORJSURFHGXUH
)LJXUH7KHPHVVDJHIORZEHWZHHQWKHFKLOGDQGSDUHQWGLDORJER[HV
:HZLOOZDQWWRLQWHUFHSWDQGSRVVLEO\KDQGOHIRXUPDLQW\SHVRIPHVVDJHVLQWKHGLDORJKRRN
SURFHGXUH7KHVHDUHLQLWLDOL]DWLRQQRWLILFDWLRQ$FWLYH;FRQWURODQGVKXWGRZQPHVVDJHV
7KH\DUHH[SODLQHGLQPRUHGHWDLOLQWKHQH[WIRXUVHFWLRQV 'LDORJLQLWLDOL]DWLRQ
'LDORJLQLWLDOL]DWLRQLQYROYHVORDGLQJFRPERER[HVDQGOLVWER[HVZLWKGHIDXOWGDWDSODFLQJ
FRQWUROVVL]LQJFRQWUROVDVZHOODVH[HFXWLQJRWKHUW\SHVRILQLWLDOL]DWLRQVWKDW\RXPLJKWZDQW
WRSHUIRUP
7KHILUVWRFFXUVZKHQWKHKRRNSURFHGXUHUHFHLYHVWKH:0B,1,7',$/2*PHVVDJHWKLVLV ZKHUH,FKRVHWRGRWKHLQLWLDOL]DWLRQVLQ([DPSOH7KHVHFRQGLVGXULQJWKH
&'1B,1,7'21(QRWLILFDWLRQZKLFKLVFRQWDLQHGLQDVWUXFWXUHSRLQWHGWRE\WKHO3DUDP
SDUDPHWHURIWKH:0B127,)<PHVVDJH$VDQRWHWKH:0B,1,7',$/2*PHVVDJHLVVHQW
ILUVWWRWKHGHIDXOWFRPPRQGLDORJER[WKHSDUHQW WKHQDVHFRQGVHSDUDWH:0B,1,7',$/2*
PHVVDJHLVVHQWWRWKHFKLOGGLDORJ7KHSDUHQWGLDORJER[ZLOODOZD\VUHFHLYHWKH
:0B,1,7',$/2*PHVVDJHEHIRUHWKHFKLOGGLDORJUHFHLYHVLWV:0B,1,7',$/2*PHVVDJH
$OVR:0B,1,7',$/2*LVWKHRQO\PHVVDJHWKDWLVSURFHVVHGILUVWE\WKHGHIDXOWGLDORJER[
SURFHGXUHDQGWKHQVHQWWRWKHGLDORJKRRNSURFHGXUH$OORWKHUPHVVDJHVZLOOEHUHFHLYHGE\
WKHGLDORJKRRNSURFHGXUHILUVW7KHKRRNSURFHGXUHWKHQGHFLGHVZKHWKHUWRSDVVWKHPRQWR
WKHGHIDXOWGLDORJSURFHGXUH
)LJXUHGHVFULEHVWKLVSURFHVV7KH:0B,1,7',$/2*PHVVDJHLVVHQWILUVWWRWKHGHIDXOW
GLDORJSURFHGXUH $IWHUWKHGHIDXOWGLDORJSURFHGXUHLVGRQHLQLWLDOL]LQJLWSDVVHVWKH :0B,1,7',$/2*PHVVDJHRQWRWKHKRRNSURFHGXUH /DVWO\WKH&'1B,1,7'21(
QRWLILFDWLRQFRGHLVVHQWWRWKHKRRNSURFHGXUH 7KH&'1B,1,7'21(QRWLILFDWLRQLVVHQW
E\WKHFKLOGGLDORJXSRQFRPSOHWLQJLWVLQLWLDOL]DWLRQ
)LJXUH7KHLQLWLDOL]DWLRQPHVVDJLQJIORZLQDVXEFODVVHGFRPPRQGLDORJER[
:KHQGHFLGLQJZKHUHLQWKHKRRNSURFHGXUHWRSXW\RXULQLWLDOL]DWLRQFRGHFRQVLGHUWKHVH
SRLQWV7KH:0B,1,7',$/2*PHVVDJHLVVHQWWRWKHKRRNSURFHGXUHEHIRUHWKH
&'1B,1,7'21(PHVVDJH%RWKPHVVDJHVDUHVHQWWRWKHKRRNSURFHGXUHEHIRUHWKHGLDORJ
LVGLVSOD\HG7KH&'1B,1,7'21(LVQRWUHDOO\DPHVVDJHLQDQGRILWVHOILQVWHDGLWLVD
QRWLILFDWLRQFRGHWKDWLVFRQWDLQHGZLWKLQWKH:0B127,)<PHVVDJHVHQWWRWKHGLDORJKRRN
SURFHGXUHLQIRUPLQJLWRILWVVWDWXV7KLVPHVVDJHLVDOVRVSHFLILFWRWKH([SORUHUVW\OH2SHQ
DQG6DYH$VFRPPRQGLDORJER[HV,WLVQRWVHQWDVDQRWLILFDWLRQE\DQ\RWKHUFRPPRQ
GLDORJER[
$YHU\LPSRUWDQWGLIIHUHQFHEHWZHHQWKHVHWZRPHVVDJHVLVWKHSRLQWDWZKLFKWKHFRPPRQ
GLDORJER[LVLQLWLDOO\VL]HG:KHQWKH:0B,1,7',$/2*PHVVDJHLVVHQWWKHFRPPRQGLDORJ
ER[KDVQRWEHHQVL]HGWRDFFRPPRGDWHWKHQHZFRQWUROVFRQWDLQHGLQWKHGLDORJWHPSODWH
UHVRXUFH$IWHUWKH&'1B,1,7'21(QRWLILFDWLRQLVVHQWWKHFRPPRQGLDORJER[KDVEHHQ
UHVL]HGWRLQFOXGHWKHQHZFRQWUROVLQWKHGLDORJWHPSODWHUHVRXUFH7KLVGLIIHUHQFHZLOOFRPH
LQKDQG\ZKHQPRGLI\LQJWKHVL]HDQGSRVLWLRQRIWKHFRPPRQGLDORJDQGLWVFRQWUROVGXULQJ
LWVFUHDWLRQ$VDUXOHRIWKXPENHHSFRGHWRUHVL]HDQGSRVLWLRQWKHFRPPRQGLDORJER[LQ
WKH&'1B,1,7'21(QRWLILFDWLRQ
7KHILQDOGLIIHUHQFHEHWZHHQWKHVHWZRPHVVDJHVLVWKDWWKHUHWXUQYDOXHIRUWKHGLDORJKRRN
SURFHGXUHLVLJQRUHGZKHQSURFHVVLQJWKH&'1B,1,7'21(QRWLILFDWLRQ7KHUHWXUQYDOXHIRU
WKHGLDORJKRRNSURFHGXUHLVQRWLJQRUHGZKHQSURFHVVLQJWKH:0B,1,7',$/2*PHVVDJH
7KHUHWXUQYDOXHIRUWKHGLDORJKRRNSURFHGXUHFDQEHHLWKHU758(RU)$/6(IRUWKLV
PHVVDJH,ILWLV)$/6(WKHNH\ERDUGIRFXVLVVHWWRWKHILUVWFRQWUROLQWKHWDERUGHURIWKH
FRPPRQGLDORJER[WKDWLVYLVLEOHHQDEOHGDQGKDVWKH:6B7$%6723VW\OH,ILWLV)$/6(
WKHNH\ERDUGIRFXVLVVHWWRWKHFRQWUROWKDWKDVDQK:QGYDOXHHTXDOWRWKHYDOXHLQWKH
Z3DUDPYDOXHRIWKLVPHVVDJH7KHZ3DUDPSDUDPHWHUFRQWDLQVWKHK:QGRIWKHFRQWUROWKDW
LVWRUHFHLYHNH\ERDUGIRFXVZKHQWKHFRPPRQGLDORJLVGLVSOD\HG
&RPPRQDFWLRQVSHUIRUPHGLQWKHGLDORJKRRNSURFHGXUHDUHWRTXHU\DQGPRGLI\FRQWURO
SURSHUWLHV)RUWKLV\RXQHHGWRNQRZWKHFRQWURO VKDQGOH7KLVLVDIDLUO\VLPSOHWDVN-XVW XVHWKH*HW'OJ,WHP$3,IXQFWLRQ
3XEOLF'HFODUH)XQFWLRQ*HW'OJ,WHP/LEXVHU$OLDV*HW'OJ,WHPB
,WVSDUDPHWHUVDUH K'OJ
%\9DOK'OJ$V/RQJ%\9DOQ,''OJ,WHP$V/RQJ $V/RQJ
7KHKDQGOHWRWKHGLDORJER[ZKHUHWKHFRQWUROLVORFDWHGWKLVLVHLWKHUWKHGHIDXOW
FRPPRQGLDORJER[RUWKHFKLOGGLDORJER[
Q,''OJ,WHP
7KH,'RIWKHFRQWUROLQWKHUHVRXUFHILOH
7KLV$3,IXQFWLRQUHWXUQVWKHKDQGOHRIWKHFRQWUROWKDW\RXVSHFLI\
7RJHWWKHKDQGOHRIDFRQWURO\RXZDQWWRGHDOZLWKRQWKHFKLOGGLDORJER[\RXQHHGWRVHW
WKHK'OJSDUDPHWHURIWKLV$3,IXQFWLRQHTXDOWRWKHKDQGOHRIWKHFKLOGGLDORJER[7KHKDQGOH
IRUWKHFKLOGGLDORJER[LVVWRUHGLQWKHKZQGSDUDPHWHUSDVVHGLQWRWKHGLDORJKRRNIXQFWLRQ
7KHVHFRQGSDUDPHWHUQ,''OJ,WHPLVWKH,'RIWKHFRQWUROZKRVHKDQGOH\RXQHHGWRJHW$
OLVWRIWKHFKLOGGLDORJER[HV FRQWURO,'VLVIRXQGLQWKHUHVRXUFHKILOHFUHDWHGHDUOLHU
7KLVLVILQHIRUFRQWUROVLQWKHFKLOGGLDORJER[EXWZKDWLI\RXQHHGWRILQGDFRQWURO VKDQGOH
WKDWLVORFDWHGRQWKHSDUHQWGLDORJER["7RGRWKLVZHQHHGWRXVHWKH*HW3DUHQW$3,
IXQFWLRQEHIRUHFDOOLQJ*HW'OJ,WHP*HW3DUHQWLVGHILQHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ*HW3DUHQW/LEXVHU$OLDV*HW3DUHQWB
%\9DOKZQG$V/RQJ $V/RQJ
,WVVLQJOHSDUDPHWHULV KZQG
7KHKDQGOHRIWKHFKLOGZLQGRZ
*HW3DUHQWUHWXUQVWKHKDQGOHRIWKDWFKLOG VSDUHQWZLQGRZ:HWKHQXVHWKLVKDQGOHLQWKH
K'OJSDUDPHWHURIWKH*HW'OJ,WHPIXQFWLRQ7KHQ,''OJ,WHPSDUDPHWHUXVHVDSUHGHILQHG
YDOXH7KHSUHGHILQHGFRQWURO,'YDOXHVIRUWKH2SHQDQG6DYH$VFRPPRQGLDORJER[HVDUH
3XEOLF&RQVWFK[ + 5HDGRQO\FKHFNER[
3XEOLF&RQVWFPE + )LOHW\SHILOWHUVGURSGRZQFRPERER[
3XEOLF&RQVWFPE + &XUUHQWGULYHDQGIROGHUGURSGRZQFRPERER[
3XEOLF&RQVWFPE +& &XUUHQWVHOHFWHGILOHGURSGRZQFRPERER[
8VHGIRU:LQGRZV
3XEOLF&RQVWHGW + &XUUHQWVHOHFWHGILOHHGLWER[
8VHGLQSUHYLRXVYHUVLRQVRI:LQGRZV
3XEOLF&RQVWOVW + 'LVSOD\VFRQWHQWVRIWKHVHOHFWHGGULYHRU
IROGHUWKLVLVDOLVWER[
3XEOLF&RQVWVWF + /DEHOIRUOVWFRQWURO
3XEOLF&RQVWVWF + /DEHOIRUFPEFRQWURO
3XEOLF&RQVWVWF + /DEHOIRUHGWFRQWURO
3XEOLF&RQVWVWF + /DEHOIRUFPEFRQWURO
3XEOLF&RQVW,'2. 7KHGHIDXOWGLDORJ2.EXWWRQ
ZLOOQRWKDYH2.LQLWVFDSWLRQ
3XEOLF&RQVW,'&$1&(/ 7KHGLDORJFDQFHOEXWWRQ
3XEOLF&RQVWSVK+HOS SVK 7KHGLDORJKHOSEXWWRQ
$GGLWLRQDOFRQWURO,'VQRWOLVWHGKHUHDUHXVHGLQWKHRWKHUW\SHVRIFRPPRQGLDORJER[HV
8VLQJ6S\ZHFDQILQGWKHFRQWURO,'VIRUWKHVHRWKHUFRPPRQGLDORJFRQWUROV7KHYDOXHV
IRUDOOFRPPRQGLDORJER[FRQWUROVDOVRFDQEHIRXQGLQWKH'OJVKKHDGHUILOH
7RILQGDFRQWURO,'ZLWK6S\RSHQDQLQVWDQFHRIWKH
FRPPRQGLDORJER[DQGILQGLWLQWKH:LQGRZVOLVWLQ 6S\)LQGWKHFRQWUROWRZKLFK\RXQHHGWRJHWDQ,'DQG GRXEOHFOLFNLW7KH:LQGRZ3URSHUWLHVGLDORJER[ZLOO
DSSHDU/RFDWHWKH&RQWURO,'ILHOGRQWKH*HQHUDOWDE
7KLVLVWKHKLJKOLJKWHGFRQWURO V,'7KH&RQWURO,'ILHOGLV YLVLEOHRQO\IRUFRQWUROVQRWIRURWKHUW\SHVRIZLQGRZV
1RWHWKDWWKHVHFRQVWDQWVFRXOGFKDQJHLQIXWXUHUHOHDVHV RIWKH:LQGRZVRSHUDWLQJV\VWHP7KLVFRXOGFDXVH
FRPSDWLELOLW\LVVXHVIRU\RXUDSSOLFDWLRQLQWKHIXWXUH
$IWHUZHKDYHWKHKDQGOHWRWKHFRQWUROWKDWZHDUHLQWHUHVWHGLQZHFDQXVHWKH
6HQG0HVVDJH6HQG0HVVDJH6WURU6HQG0HVVDJH/RQJ$3,IXQFWLRQVWRVHQGPHVVDJHVWR
WKRVHFRQWUROV6RPHRIWKHPHVVDJHVWKDWZHFDQVHQGZKLFKDUHVSHFLILFWRWKHFRPPRQ GLDORJER[HVDUH
,QLWLDO9DOXHV
3XEOLF&RQVW:0B86(5 +
3XEOLF&RQVW&'0B),567 :0B86(5
*HWVWKHIXOOSDWKDQGQDPHRIWKHVHOHFWHGILOH
3XEOLF&RQVW&'0B*(7),/(3$7+ &'0B),567 +
*HWVWKHOLVWRILWHP,' VIRUWKHFXUUHQWIROGHU
3XEOLF&RQVW&'0B*(7)2/'(5,'/,67 &'0B),567 +
*HWVWKHFXUUHQWSDWKRQWKHVHOHFWHGIROGHU
3XEOLF&RQVW&'0B*(7)2/'(53$7+ &'0B),567 +
*HWVRQO\WKHQDPHRIWKHVHOHFWHGILOHDQGLWVH[WHQVLRQ
3XEOLF&RQVW&'0B*(763(& &'0B),567 +
$OORZVDFRQWUROWREHKLGGHQ
3XEOLF&RQVW&'0B+,'(&21752/ &'0B),567 +
$OORZVWH[WLQDFRQWUROWREHFKDQJHG
3XEOLF&RQVW&'0B6(7&21752/7(;7 &'0B),567 +
$OORZVWKHGHIDXOWILOHQDPHH[WHQVLRQWREHVHW
3XEOLF&RQVW&'0B6(7'()(;7 &'0B),567 +
0RVWRIWKHVHPHVVDJHVDUHXVHIXORQO\LQWKH2SHQDQG6DYH$VFRPPRQGLDORJER[HV
2WKHUFRQWUROVSHFLILFPHVVDJHVFDQEHVHQWDVZHOO)RUWKHOLVWRIPHVVDJHVVSHFLILFWRD FRQWUROVHHWKH0LFURVRIW3ODWIRUP6RIWZDUH'HYHORSPHQW.LW6'. GRFXPHQWDWLRQLQWKH
06'1
3URFHVVLQJGLDORJER[QRWLILFDWLRQPHVVDJHV 7KHSDUHQWFRPPRQGLDORJLVDEOHWRVHQGVHYHUDOGLIIHUHQWQRWLILFDWLRQPHVVDJHVWRLWVKRRN
SURFHGXUHLQGLFDWLQJWKDWDQDFWLRQKDVRFFXUUHG7KHVHQRWLILFDWLRQPHVVDJHVDUHFRQWDLQHG
LQD:0B127,)<PHVVDJHWKDWKDVLQIRUPDWLRQLQERWKLWVO3DUDPDQGZ3DUDPSDUDPHWHUV
7KHO3DUDPSDUDPHWHUFRQWDLQVWKH,'RIWKHFRQWUROWKDWLVVHQGLQJWKLVPHVVDJHWRLWV
SDUHQW7KHFRQWURO,'VFDQEHIRXQGLQWKH5HVRXUFHKILOHIRURXUGLDORJWHPSODWHUHVRXUFH
7KHZ3DUDPSDUDPHWHUFRQWDLQVDSRLQWHUWRD10+'5VWUXFWXUH7KH10+'5VWUXFWXUHLV GHILQHGLQ9%DVIROORZV 3ULYDWH7\SH10+'5
KZQG)URP$V/RQJ LGIURP$V/RQJ
FRGH$V/RQJ (QG7\SH
,WVPHPEHUVDUH KZQG)URP
7KHKDQGOHWRWKHFRQWUROVHQGLQJWKLVQRWLILFDWLRQPHVVDJH
LGIURP FRGH
7KHLGHQWLILHURIWKHFRQWUROVHQGLQJWKLVQRWLILFDWLRQPHVVDJH $FRGHLGHQWLI\LQJWKHW\SHRIQRWLILFDWLRQ
7KHZ3DUDPSDUDPHWHUFRQWDLQVWKHFRQWURO,'RIWKH FRQWUROWKDWVHQWWKHPHVVDJH7KH0LFURVRIW
GRFXPHQWDWLRQVWDWHVWKDWWKHFRQWURO,'LQWKLVSDUDPHWHU LVQRWJXDUDQWHHGWREHXQLTXHLQVWHDGXVHWKHKZQG)URP
RULGIURPYDOXHVIRXQGLQWKH10+'5VWUXFWXUHSRLQWHGWRE\
WKHO3DUDPSDUDPHWHURIWKLVPHVVDJH
&RPPRQGLDORJER[HVFDQVHQGVHYHUDOGLIIHUHQWW\SHVRIQRWLILFDWLRQFRGHV%HFDXVHWKH
GLDORJER[FRQWUROVWKHPVHOYHVFDQQRWVHQGQRWLILFDWLRQPHVVDJHVWRWKHKRRNSURFHGXUHWKH
FRPPRQGLDORJER[KDVDVHWRIWKHVHQRWLILFDWLRQPHVVDJHVWKDWLWFDQVHQGWRWKHKRRN
SURFHGXUH(DFKFRGHLVGHILQHGEHORZ CDN_FILEOK
7KHXVHUKDVVHOHFWHGDQLWHPDQGWKHQFOLFNHGWKH2.EXWWRQZKLFKLVDFWXDOO\WKH
GHIDXOWEXWWRQRIWKHFRPPRQGLDORJER[ RUGRXEOHFOLFNHGDILOHLQWKHOLVWYLHZ
FRQWURO CDN_FOLDERCHANGE
7KHXVHUKDVPRYHGWRDGLIIHUHQWIROGHU CDN_HELP 7KHGLDORJ+HOSEXWWRQZDVFOLFNHG CDN_INCLUDEITEM
:LQGRZVRQO\ ,IWKH2)1B(1$%/(,1&/8'(127,)<IODJZDVVHWLQWKH
23(1),/(1$0(VWUXFWXUHWKLVQRWLILFDWLRQLVVHQWWRWKHGLDORJKRRNSURFHGXUHRQFH
IRUHYHU\IROGHUDQGILOHGLVSOD\HGLQWKH2SHQRU6DYH$VFRPPRQGLDORJER[
5HWXUQLQJDQRQ]HURYDOXHIURPWKHGLDORJKRRNSURFHGXUHIRUWKLVPHVVDJHSUHYHQWV
WKHGLDORJIURPGLVSOD\LQJWKDWILOHRUIROGHUUHWXUQLQJD]HURDOORZVWKHILOHRUIROGHUWR
EHGLVSOD\HG7KLVQRWLILFDWLRQZLOOEHVHQWLQ:LQGRZVDQG:LQGRZV17EXW
UHWXUQLQJHLWKHUD]HURRUQRQ]HURYDOXHZLOOKDYHQRHIIHFW CDN_INITDONE
7KLVQRWLILFDWLRQLVVHQWXSRQFRPSOHWLRQRIWKH:0B,1,7',$/2*PHVVDJHWKDWLV
VHQWWRWKLVFKLOGGLDORJER[:KHQWKLVQRWLILFDWLRQPHVVDJHKDVEHHQVHQWDOOWKH
FRQWUROVZLOOEHSODFHGRQWKHFRPPRQGLDORJDQGWKHGLDORJZLOOEHVHWWRLWVILQDO
VL]H$WWKLVSRLQWWKHV\VWHPLVGRQHSODFLQJDQGVL]LQJWKHFRQWUROVDVZHOODVWKH
GLDORJDQG\RXFDQVDIHO\UHDUUDQJHDQGVL]HWKHFRQWUROVDQGWKHGLDORJLWVHOI CDN_SELCHANGE
7KLVQRWLILFDWLRQLVVHQWZKHQHYHUDXVHUFKDQJHVWKHFXUUHQWVHOHFWLRQLQWKHOLVWYLHZ
FRQWURO CDN_SHAREVIOLATION
,IWKH2.EXWWRQLVFOLFNHGDQGDVKDULQJYLRODWLRQRFFXUVRQWKLVILOHWKLVQRWLILFDWLRQLV
VHQW7RSUHYHQWDQHUURUDQGWRIRUFHWKHFRPPRQGLDORJER[WRUHWXUQWKHORFNHGILOH
VLPSO\UHWXUQDQRQ]HURYDOXHIRUWKHGLDORJKRRNSURFHGXUH CDN_TYPECHANGE
7KLVQRWLILFDWLRQLVVHQWZKHQWKHXVHUFKDQJHVWKHILOHFXUUHQWO\VHOHFWHGWRDILOHRID
GLIIHUHQWW\SH6ZLWFKLQJVHOHFWLRQEHWZHHQILOHVRIWKHVDPHW\SHZLOOQRWIRUFHWKLV
QRWLILFDWLRQWREHVHQW
7KHVRXUFHRIWKHVHQRWLILFDWLRQPHVVDJHVLVDSSDUHQWIURPWKHSUHIL[DSSOLHGWRWKH
QRWLILFDWLRQFRGHQDPH7KH&'1SUHIL[WHOOV\RXWKDWWKHVHPHVVDJHVDUH&RPPRQ'LDORJ
1RWLILFDWLRQPHVVDJHV7KHLQGLYLGXDOFRQWUROVGRQRWVHQGWKHVHQRWLILFDWLRQPHVVDJHV2QO\
WKHGLDORJLWVHOIVHQGVWKHVHPHVVDJHV
$V\RXPLJKWKDYHQRWLFHGVRPHRIWKHVHQRWLILFDWLRQFRGHVZLOOEHVHQWRQO\IURPWKH2SHQ
RU6DYH$VFRPPRQGLDORJER[HV,I\RXDUHH[SHFWLQJDQRWLILFDWLRQIURPWKHGLDORJER[DQG
\RXDUHQRWUHFHLYLQJRQHPDNHVXUHWKDWWKHFRUUHFWIODJVKDYHEHHQVHWLQWKH)ODJV
PHPEHURIWKH23(1),/(1$0(VWUXFWXUH7KH2)1B(;3/25(5IODJLVUHTXLUHGWRDOORZ
QRWLILFDWLRQVWREHVHQWIURP([SORUHU6W\OH2SHQDQG6DYH$VGLDORJER[HV
7RDFFHVVWKH10+'5VWUXFWXUHLQ9%\RXZLOOQHHGWRXVHWKH&RS\0HPRU\$3,IXQFWLRQ
7KHIROORZLQJFRGHIUDJPHQWXVHVWKH&RS\0HPRU\IXQFWLRQWRFRS\WKHVWUXFWXUHSRLQWHGWR
E\WKHO3DUDPSDUDPHWHULQWRWKH10+'5VWUXFWXUHGHILQHGLQ9%
'LPXGW10$V10+'5
&RS\0HPRU\XGW10%\9DOO3DUDP/HQ%10+'5 3URFHVVLQJPHVVDJHVIURPWKHFRQWUROVRQWKHFKLOGGLDORJER[ ,I\RXSODFHQHZFRQWUROVRQWKHFRPPRQGLDORJYLDWKHGLDORJWHPSODWHUHVRXUFHREYLRXVO\
\RXZLOOZDQWWREHDEOHWRPDNHWKHPGRVRPHWKLQJ7RPDNHWKHFRQWUROVIXQFWLRQZHQHHG
WREHDEOHWRFDWFKPHVVDJHVWKDWWKH\VHQGVXFKDVWKHEXWWRQFOLFNPHVVDJH%1B&/,&.
7RFDWFKPHVVDJHVVXFKDVWKHVHZHQHHGWRZDWFKIRUWKH:0B&200$1'PHVVDJHLQWKH
GLDORJKRRNSURFHGXUH7KHZ3DUDPSDUDPHWHURIWKH:0B&200$1'PHVVDJHFRQWDLQV
WZRSLHFHVRILQIRUPDWLRQ7KHQRWLILFDWLRQFRGHLVFRQWDLQHGLQWKHKLJKRUGHUZRUGRIWKH Z3DUDPSDUDPHWHU7KHORZRUGHUZRUGFRQWDLQVWKHFRQWURO V,'7KHFRQWURO,'VDUH
VSHFLILHGLQWKH&UHVRXUFHKKHDGHUILOHWKDWZHFUHDWHGDWWKHEHJLQQLQJRIWKLVFKDSWHU
7KHO3DUDPSDUDPHWHUFRQWDLQVWKHK:QGRIWKHFRQWUROWKDWVHQWWKLVPHVVDJH,IDFRQWURO
GLGQRWVHQGWKLVPHVVDJHWKLVSDUDPHWHULV18//
([WUDFWLQJWKH+LJKDQG/RZ2UGHU:RUGV
7RJHWWKHKLJKRUGHUZRUGRIWKHZ3DUDPSDUDPHWHUMXVWPDVNRIILWV ORZRUGHUZRUG
GHWHUPLQHWKHYDOXHRIWKHVLJQELWVLPSO\$1'WKHYDOXHZLWK +7KHFRGHXVHGWRGRWKLVLV
3XEOLF)XQFWLRQ*HW+L:RUG%\5HI9DOXH$V/RQJ $V/RQJ
,I9DOXH$QG + +7KHQ
*HW+L:RUG 9DOXH$QG +))) ? + 2U +
(OVH
*HW+L:RUG 9DOXH$QG +)))) ? +
(QG,I
(QG)XQFWLRQ
7RJHWWKHORZRUGHUZRUGRIZ3DUDPWKHKLJKRUGHUZRUGPXVWEH
PDVNHGRII7KHVLJQELWGRHVQRWKDYHDQ\EHDULQJRQWKLVIXQFWLRQ 7KHFRGHWKDWDFFRPSOLVKHVWKLVLV
3XEOLF)XQFWLRQ*HW/R:RUG%\5HI9DOXH$V/RQJ $V/RQJ
*HW/R:RUG 9DOXH$QG +)))) (QG)XQFWLRQ
:KHQDQDFWLRQLVSHUIRUPHGRQDFRQWUROLQWKHFKLOGGLDORJER[PHVVDJHVDUHURXWHGLQWKH
PDQQHULOOXVWUDWHGHDUOLHULQ)LJXUH)RUH[DPSOHLIWKHXVHUFOLFNVDEXWWRQWKDWZDV DGGHGWRWKHFKLOGGLDORJER[
7KHEXWWRQQRWLILHVLWVSDUHQWZKLFKLVWKHFKLOGGLDORJFUHDWHGIURPWKHGLDORJ WHPSODWHUHVRXUFHWKDWLWKDVEHHQFOLFNHG7KLVQRWLILFDWLRQLVSDFNDJHGLQD
:0B&200$1'PHVVDJHQRWWKH:0B127,)<PHVVDJHXVHGIRUSDUHQWGLDORJ FRQWUROQRWLILFDWLRQV
7KHGLDORJKRRNSURFHGXUHUHFHLYHVWKHQRWLILFDWLRQPHVVDJHSDFNDJHGLQD :0B&200$1'PHVVDJH
7KHGLDORJKRRNSURFHGXUHXVHVWKHKLJKRUGHUZRUGRIWKHZ3DUDPSDUDPHWHUWRJHW WKHQRWLILFDWLRQFRGH7KLVFRGHLVSURFHVVHGLQD6HOHFW&DVHVWDWHPHQW
7KHORZRUGHUZRUGRIWKHZ3DUDPSDUDPHWHULVXVHGWRJHWWKH,'RIWKHFRQWURO7KLV ,'DOVRLVSURFHVVHGLQD6HOHFW&DVHVWDWHPHQWZKLFKLVQHVWHGZLWKLQWKHSUHYLRXV
6HOHFW&DVHVWDWHPHQW
$IWHUWKHGLDORJKRRNSURFHGXUHLVILQLVKHGSURFHVVLQJWKLVPHVVDJHLWFDQVHQGLWRQ WRWKHGHIDXOWGLDORJSURFHGXUHE\UHWXUQLQJD]HUR
7KHPRVWFRPPRQZD\RIUHVSRQGLQJWRWKHFRQWUROVWKDWKDYHEHHQDGGHGWRWKHFRPPRQ
GLDORJER[LVWRVHWXSQHVWHG6HOHFW&DVHVWDWHPHQWV7KHFRGHXVHGLQWKHH[DPSOHIRUWKLV
FKDSWHUORRNVVLPLODUWRWKHRXWOLQHRID6HOHFW&DVHVWDWHPHQWVKRZQKHUH 6HOHFW&DVHX0VJ
&DVH:0B&200$1'
O1RWLILFDWLRQ&RGH *HWB+L:RUGZ3DUDP
6HOHFW&DVHO1RWLILFDWLRQ&RGH
&DVH%1B&/,&.('
O&RQWURO,' *HWB/R:RUGZ3DUDP
6HOHFW&DVHO&RQWURO,'
&DVH,'&B%87721
'REXWWRQFOLFNZRUNKHUH
(QG6HOHFW
(QG6HOHFW
(QG6HOHFW
7KHRXWHU6HOHFW&DVHVWDWHPHQWZLOOWHVWIRUWKH:0B&200$1'PHVVDJHEHLQJVHQWLQWKH
X0VJSDUDPHWHURIWKHGLDORJKRRNSURFHGXUH7KHILUVWQHVWHG6HOHFW&DVHVWDWHPHQWZLOO
WHVWWKHKLJKRUGHUZRUGRIZ3DUDPIRUVSHFLILFQRWLILFDWLRQFRGHV%1B&/,&.('LQWKHFRGH
DERYH 7KHQWKHLQQHUPRVWQHVWHG6HOHFW&DVHVWDWHPHQWZLOOWHVWIRUDVSHFLILFFRQWURO,'
WKLVLV,'&B%87721LQWKHSUHYLRXVFRGH 7KHFRQWURO,'LVREWDLQHGIURPWKHORZRUGHU
ZRUGRIWKHZ3DUDPSDUDPHWHUIRUWKHPHVVDJH1RZWKHFRQWUROFDQGRVRPHWKLQJLQ
UHVSRQVHWRWKHQRWLILFDWLRQPHVVDJH7RGHWHUPLQHZKLFKQRWLILFDWLRQPHVVDJHVFDQEHVHQW
E\DSDUWLFXODUFRQWUROVHHWKH0LFURVRIW3ODWIRUP6'.GRFXPHQWDWLRQ
7KHGHIDXOWFRQWUROVRQWKHSDUHQWGLDORJDOVRKDYHFRQWURO,'VWKHVHZHUHOLVWHGHDUOLHULQ
WKLVFKDSWHU 7U\LQJWRLQWHUFHSWPHVVDJHVVHQWIURPWKHVHGHIDXOWFRQWUROVGRHVQRWZRUN
EHFDXVHWKRVHPHVVDJHVDUHVHQWVWUDLJKWWRWKHGLDORJSURFHGXUHDQGQRWWRRXUGLDORJKRRN
SURFHGXUH
3URFHVVLQJWKHGLDORJVKXWGRZQPHVVDJHV :HFDQVKXWGRZQWKHGLDORJHLWKHUE\IRUFLQJLWWRFORVHXVLQJ$OW)E\XVLQJWKH&ORVH
EXWWRQRQWKHGLDORJWLWOHEDUE\FOLFNLQJWKH2.EXWWRQRUE\FOLFNLQJWKH&DQFHOEXWWRQ:KHQ
WKHXVHUFORVHVWKHGLDORJWZRPHVVDJHVDSSHDUWKDW\RXFDQLQWHUFHSWLQWKHGLDORJKRRN
SURFHGXUH:0B'(6752<DQG:0B1&'(6752<7KH:0B'(6752<PHVVDJHLVVHQWWR
WKHGLDORJER[ILUVWDQGWKHQWKH:0B1&'(6752<PHVVDJHIROORZVLW7KH:0B'(6752<
PHVVDJHLVVHQWWRWKHZLQGRZDVLWVFOLHQWDUHDLVUHPRYHGIURPPHPRU\DQGDIWHUWKHGLDORJ
ER[KDVEHHQUHPRYHGIURPWKHVFUHHQ7KH:0B1&'(6752<PHVVDJHLVVHQWWRWKH
GLDORJWROHWLWNQRZWKDWLWVQRQFOLHQWDUHDLVEHLQJUHPRYHGIURPPHPRU\
&OHDQXSFRGHFDQEHSODFHGLQWKH&'1B),/(2.QRWLILFDWLRQFRGHKDQGOHUORFDWHGLQWKH
GLDORJKRRNSURFHGXUH,IWKHXVHUFORVHVWKHGLDORJLQDQ\ZD\RWKHUWKDQFOLFNLQJWKH2.
EXWWRQDQHUURULVUDLVHG7KHDSSOLFDWLRQUHFHLYHVWKHHUURUDQGPXVWKDQGOHLW 'HIDXOWPHVVDJHSURFHVVLQJ
KRRNSURFHGXUHSURFHVVHVPHVVDJHVGLIIHUHQWO\WKDQDW\SLFDOVXEFODVVHGZLQGRZSURFHGXUH
RUHYHQDW\SLFDOKRRNSURFHGXUH
7KHRQO\WKLQJ\RXPXVWGRLVUHWXUQHLWKHUD]HUR)$/6( RUDQRQ]HUR758( YDOXHIURP
WKHKRRNSURFHGXUH$UHWXUQYDOXHRI]HURRU)DOVHLQGLFDWHVWKDWWKHGHIDXOWGLDORJSURFHGXUH
VKRXOGSURFHVVWKLVPHVVDJH$QRQ]HURRU7UXHUHWXUQYDOXHLQGLFDWHVWKDWWKHGHIDXOWGLDORJ
SURFHGXUHPXVWQRWSURFHVVWKLVPHVVDJH7KHYDOXHUHWXUQHGIURPWKHGLDORJKRRN
SURFHGXUHUHDOO\GHSHQGVRQWKHPHVVDJHLWVHOIDQGVRPHWLPHVRQWKHDFWLRQVWDNHQLQWKH
KRRNSURFHGXUH7RGHWHUPLQHZKDWWRUHWXUQLQWKHKRRNSURFHGXUHH[DPLQHWKHPHVVDJH
GHILQLWLRQVDQGWKHLUUHTXLUHPHQWVIRUUHWXUQHGYDOXHV2QHWKLQJ\RXVKRXOGGRLVVHWWKH
GHIDXOWUHWXUQYDOXHIRUWKLVGLDORJKRRNSURFHGXUHWR]HURDQGWKHQLILWLVUHTXLUHGFKDQJH
WKDWYDOXHWRQRQ]HURRQDSHUPHVVDJHEDVLV
6XEFODVVLQJ&RPPRQ'LDORJ%R[HV2WKHU7KDQ2SHQDQG6DYH
$V
7KHSUHYLRXVPDWHULDOFRYHUHGVXEFODVVLQJWKH([SORUHUVW\OH2SHQDQG6DYH$VFRPPRQ
GLDORJER[HV7KLVVHFWLRQFRYHUVVXEFODVVLQJDOORWKHUW\SHVRIFRPPRQGLDORJER[HV7KH
WHFKQLTXHVLQWKLVVHFWLRQSHUWDLQWRWKHVHFRPPRQGLDORJV Color Font Print Print Property Sheet (Win2000) Page Setup Find Replace
7KH'LDORJ7HPSODWH5HVRXUFH 7KHIRUHPRVWGLIIHUHQFHEHWZHHQWKH2SHQDQG6DYH$VFRPPRQGLDORJVDQGWKHUHPDLQLQJ
FRPPRQGLDORJVLVKRZWKHGLDORJWHPSODWHUHVRXUFHLVFUHDWHG:LWKWKH2SHQDQG6DYH$V
FRPPRQGLDORJVDVHSDUDWHFKLOGGLDORJKDGWREHFUHDWHGDQGLQWHJUDWHGLQWRWKHSDUHQW
FRPPRQGLDORJER[7KLVLVQHFHVVDU\EHFDXVHWKHGLDORJUHVRXUFHIRUWKHVHWZRFRPPRQ
GLDORJVLVHPEHGGHGLQWKHFRPGOJGOO1RWVRZLWKWKHVHRWKHUFRPPRQGLDORJER[HV7KHLU
GLDORJUHVRXUFHVDUHDYDLODEOHLQ&KHDGHUILOHV K DQGLQUHVRXUFH GOJ ILOHV7KH
KHDGHUILOHVFRQWDLQDOOWKHFRQWURO,'VIRUHDFKFRQWURORQWKHVHGLDORJV7KHUHVRXUFHILOHV
FRQWDLQWKHDFWXDOGLDORJUHVRXUFH7DEOHOLVWVDOOUHVRXUFH,'VKHDGHUILOHVDQGUHVRXUFH ILOHVWKDWHDFKFRPPRQGLDORJER[XVHV7KHVHILOHVDUHVKLSSHGZLWKWKH9LVXDO&
GHYHORSPHQWHQYLURQPHQW
7DEOH5HVRXUFH,'V+HDGHU)LOHVDQG5HVRXUFH)LOHVRIWKH&RPPRQ'LDORJ%R[HV
'LDORJW\SH
5HVRXUFH,'
5HVRXUFH)LOH
+HDGHU)LOH
&RORU
'/*B&2/25
&RORUGOJ
&RORU'OJK
)RQW
)250$7'/*25'
)RQWGOJ
'OJVK
3ULQW
35,17'/*25'
3UQVHWXSGOJ
'OJVK
3ULQW6HWXS
3516(783'/*25'
3UQVHWXSGOJ
'OJVK
3DJH6HWXS
3$*(6(783'/*25'
3UQVHWXSGOJ
'OJVK
3ULQW3URSHUW\6KHHW
35,17'/*(;25'
3UQVHWXSGOJ
'OJVK
)LQG
),1''/*25'
)LQGWH[WGOJ
'OJVK
5HSODFH
5(3/$&('/*25'
)LQGWH[WGOJ
'OJVK
&UHDWLQJDGLDORJUHVRXUFHILOH ,ZLOOXVHWKH&RORUFRPPRQGLDORJER[WRLOOXVWUDWHKRZWRFUHDWHDGLDORJUHVRXUFHIRUWKHVH
FRPPRQGLDORJV$IWHUWKHUHVRXUFHILOHLVFUHDWHGLWFDQEHSODFHGHLWKHULQDUHVRXUFH'//
DQGORDGHGLQWRWKHSURMHFWYLD/RDG/LEUDU\RULQD5(6ILOHDQGHPEHGGHGLQWRWKH9%
SURMHFW
7KHILUVWVWHSLVWRRSHQ9LVXDO&DQGFUHDWHDUHVRXUFHILOHVLPLODUWRWKHZD\\RXFUHDWHG
WKHUHVRXUFHILOHIRUWKH6DYH$VH[DPSOHDSSOLFDWLRQ$IWHUWKHILOHLVFUHDWHGLPPHGLDWHO\
VDYHWKHHPSW\ILOHDVDUHVRXUFHVFULSWILOHWKDWLVZLWKDUFH[WHQVLRQ1RWHWKDWQR
UHVRXUFHVZHUHDGGHGWRWKHILOH
1H[WRSHQWKH&2/25'/*ILOHORFDWHGLQWKH,QFOXGHGLUHFWRU\LQWKH9LVXDO&GLUHFWRU\
&RS\MXVWWKHWH[WWKDWPDNHVXSWKHUHVRXUFHVFULSWIRUWKH&RORUFRPPRQGLDORJER[IURP
WKLVILOHRQWRWKH&OLSERDUG7KHSRUWLRQRIWKHILOHWKDWLVFRSLHGLVVKRZQLQ([DPSOH ([DPSOH&RGHIURPWKH&2/25'/*5HVRXUFH6FULSW &+226(&2/25',$/2*',6&$5'$%/(
67('6B02'$/)5$0(_'6B'/22._'6B&217(;7+(/3_:6B32383_
:6B&$37,21_
:6B6<60(18 &$37,21&RORU
)217066KHOO'OJ %(*,1
/7(;7 %DVLFFRORUV,'&B67$7,&
&21752/&2/25B%2;6WDWLF66B6,03/(_:6B*5283_:6B7$%6723
/7(;7 &XVWRPFRORUV,'&B67$7,&
&21752/&2/25B&867206WDWLF66B6,03/(_:6B*5283_
:6B7$%6723
386+%87721 'HILQH&XVWRP&RORUV!!&2/25B0,;
:6B*5283
'()386+%877212.,'2.:6B*5283
386+%87721&DQFHO,'&$1&(/:6B*5283 386+%87721 +HOS:6B*5283
&21752/&2/25B5$,1%2:6WDWLF66B6,03/(_66B681.(1
&21752/&2/25B/806&52//6WDWLF66B6,03/(_66B681.(1
&21752/&2/25B&855(176WDWLF66B6,03/(_66B681.(1
386+%87721 R&2/25B62/,':6B*5283 57(;7&RORU&2/25B62/,'B/()7
/7(;7_6 ROLG&2/25B62/,'B5,*+7
57(;7+X H&2/25B+8($&&(/
(',77(;7&2/25B+8(:6B*5283 57(;7 6DW&2/25B6$7$&&(/
(',77(;7&2/25B6$7:6B*5283
57(;7 /XP&2/25B/80$&&(/
(',77(;7&2/25B/80:6B*5283 57(;7 5HG&2/25B5('$&&(/
(',77(;7&2/25B5(':6B*5283
57(;7 *UHHQ&2/25B*5((1$&&(/
(',77(;7&2/25B*5((1:6B*5283
57(;7%O XH&2/25B%/8($&&(/
(',77(;7&2/25B%/8(:6B*5283
386+%87721 $GGWR&XVWRP&RORUV&2/25B$''
:6B*5283
386+%877217HVW%XWWRQ,'&B%87721
(1'
3DVWHWKLVVFULSWLQWRWKHUFILOHWKDW\RXMXVWFUHDWHGLQ9LVXDO&EHWZHHQWKHVHFWLRQ
FRPPHQWHGZLWK
(QJOLVK86 UHVRXUFHV
DQGWKHVHFWLRQFRPPHQWHGZLWK
7(;7,1&/8'(
6DYHDQGFORVHWKLVUFILOH
1H[WRSHQWKH5HVRXUFHKILOHWKDWZDVFUHDWHGE\WKH9LVXDO&UHVRXUFHHGLWRUDORQJZLWK
WKHUFILOH$GGWKH,'IRUWKHFRPPRQGLDORJWRWKHWRSRIWKLVILOH7KH,'IRUWKH&RORUGLDORJ
LV
GHILQH&+226(&2/25
1H[WILQGWKHFRORUGOJKKHDGHUILOHIRUWKHRULJLQDO&RORUFRPPRQGLDORJER[2SHQWKLVILOHLQ
1RWHSDGDQGFRS\DOOWKHGHILQHVWDWHPHQWVLQWRWKH5HVRXUFHKILOHWKDW\RXMXVWFUHDWHG
7KHVHGHILQHVWDWHPHQWVGHVFULEHWKHH[LVWLQJFRQWUROVRQWKH&RORUFRPPRQGLDORJER[
1RZ\RXFDQRSHQWKLVUHVRXUFHLQ9LVXDO&DQGWKHGLDORJUHVRXUFHZLOODSSHDULQWKH
HGLWRUGRXEOHFOLFNWKHUHVRXUFHWRRSHQLW,LQFUHDVHGWKHKHLJKWRIWKLVGLDORJER[DQGDGGHG
DEXWWRQWRWKHERWWRPRILWDVVKRZQLQ)LJXUH
)LJXUH7KHPRGLILHG&RORUFRPPRQGLDORJER[UHVRXUFH
7KH,'WKDWLVJLYHQWRWKLVQHZEXWWRQLV7KLVQHHGVWREHPDQXDOO\DGGHGWRWKHWRSRI
WKHUHVRXUFHKILOHDVZHOO7KHFRGHZLOOORRNOLNHWKLV
GHILQH,'&B%87721
6DYHWKLVUHVRXUFHDVD5(6ILOH7KHVWHSVWRDGGWKLVUHVRXUFHWRWKHDSSOLFDWLRQDUHWKH
VDPHDVLQWKHSUHYLRXV6DYH$VFRPPRQGLDORJVXEFODVVLQJH[DPSOH 7KH&RORUFRPPRQGLDORJ
7KH&RORUFRPPRQGLDORJER[DOORZVWKHXVHUWRFKRRVHDSUHGHILQHGFRORURUDXVHUGHILQHG
FRORU7KHGLDORJDOORZVWKHXVHUWRGHILQHDFRORUQRWDYDLODEOHLQWKHSUHVHWOLVWRIFRORUV
7RFUHDWHWKLVFRPPRQGLDORJLQLWLDOL]HWKH&+226(&2/25VWUXFWXUH7KLVVWUXFWXUHLV
GHILQHGLQ9%DVIROORZV
3XEOLF7\SH&+226(&2/25
O6WUXFW6L]H$V/RQJ VL]HRIWKLVVWUXFWXUH
KZQG2ZQHU$V/RQJ RZQLQJZLQGRZ
K,QVWDQFH$V/RQJ LQVWDQFHKDQGOH
UJE5HVXOW$V/RQJ XVHUFKRVHFRORUUHWXUQHGWRDSSOLFDWLRQ
OS&XVW&RORUV$V/RQJ SRLQWHUWRDUUD\RI&2/255()VWUXFWXUHV IODJV$V/RQJ RQHRUPRUHIODJV25 HGWRJHWKHU
O&XVW'DWD$V/RQJ DSSGHILQHGGDWDSDVVHGLQWRWKHKRRN
OSIQ+RRN$V/RQJ SRLQWHUWRGLDORJKRRNSURFHGXUH
OS7HPSODWH1DPH$VORQJ FKRRVHFRORUGLDORJWHPSODWHQDPH(QG7\SH
7KHPHPEHUVWKDWDUHUHODWHGWRVXEFODVVLQJDUH K,QVWDQFH
7KHLQVWDQFHKDQGOHRIWKHREMHFWWKDWFRQWDLQVWKHGLDORJUHVRXUFH7KLVLVXVXDOO\VHW
IODJV
HTXDOWRWKH$SSK,QVWDQFHSURSHUW\
)ODJVGHVFULELQJWKLVFRPPRQGLDORJER[7KH&&B(1$%/(7(03/$7(DQG
&&B(1$%/(+22.IODJVPXVWXVHDPRGLILHGWHPSODWHDQGDGLDORJKRRNIXQFWLRQ
OSIQ+RRN
$SRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQ
OS7HPSODWH1DPH
7KH,'RIWKHPRGLILHGGLDORJUHVRXUFH
7KLVVWUXFWXUHLVSDVVHGLQWRWKH&KRRVH&RORU$3,IXQFWLRQWRFUHDWHDQGGLVSOD\WKH&RORU
FRPPRQGLDORJER[7KLVIXQFWLRQLVGHFODUHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ&KRRVH&RORU/LEFRPGOJGOO$OLDV&KRRVH&RORU$B
S&KRRVHFRORU$V&+226(&2/25 $V/RQJ
7KH6WDUWSURFHGXUHZHFUHDWHGLQWKHSUHYLRXVH[DPSOHWKDWVXEFODVVHGWKH6DYH$V
FRPPRQGLDORJFDQEHPRGLILHGDVVKRZQLQ([DPSOHWRXVHWKH&+226(&2/25
VWUXFWXUHDQGWKH&KRRVH&RORU'OJIXQFWLRQWRFUHDWHWKHVXEFODVVHG&RORUFRPPRQGLDORJ
7KHFRGHPRGLILFDWLRQVDSSHDULQEROGIDFH7KHFRGHLVPRGLILHGWRXVHWKH&+226(&2/25
VWUXFWXUHDQGWKH&KRRVH&RORU'OJIXQFWLRQWRFUHDWHWKLVGLDORJ7KHVHDUHWKHPRGLILFDWLRQV
WKDWPXVWEHPDGHWRDOORZWKHFRGHIRUWKH6DYH$VH[DPSOHWRZRUNZLWKWKH&RORUGLDORJDV
ZHOODVZLWKWKHRWKHUFRPPRQGLDORJVWKDW,ZLOOEHGHVFULELQJQH[W
([DPSOH7KH6WDUW3URFHGXUH0RGLILHGWR6XEFODVVWKH&RORU&RPPRQ'LDORJ 6XE6WDUW2ZQHU+:QG$V/RQJ
'LP&RPPRQ'LDORJ6WUXFW$V&+226(&2/25
'LP5HW9DO$V/RQJ
:LWK&RPPRQ'LDORJ6WUXFW
O6WUXFW6L]H /HQ&RPPRQ'LDORJ6WUXFW KZQG2ZQHU 2ZQHU+:QG
OSIQ+RRN *HW$GGUHVV2I$GGUHVV2I'OJ3URF OS7HPSODWH1DPH ,''B',$/2*
K,QVWDQFH /RDG/LEUDU\$SS3DWK ?'OJ5HVB9%GOO
IODJV 2)1B(1$%/(+22.2UB
2)1B(1$%/(7(03/$7(2UB
2)1B(1$%/(,1&/8'(127,)<
(QG:LWK
5HW9DO &KRRVH&RORU&RPPRQ'LDORJ6WUXFW
,I5HW9DO 7KHQ
0VJ%R[7KH&DQFHOEXWWRQZDVFOLFNHG
(OVH,I5HW9DO 7KHQ
0VJ%R[7ULP&RPPRQ'LDORJ6WUXFWUJE5HVXOW
(OVH
HUURU
0VJ%R[&RPP'OJ([WHQGHG(UURU (QG,I
)UHH/LEUDU\&RPPRQ'LDORJ6WUXFW
K,QVWDQFH (QG6XE
7KH)RQWFRPPRQGLDORJ 7KH)RQWFRPPRQGLDORJER[DOORZVWKHXVHUWRFKRRVHDIRQWDVZHOODVWKHSURSHUWLHVIRU
WKDWIRQW3URSHUWLHVLQFOXGHVW\OHVL]HHIIHFWVDQGFRORU
7RFUHDWHWKLVFRPPRQGLDORJLQLWLDOL]HWKH&+226()217VWUXFWXUH7KLVVWUXFWXUHLV
GHILQHGLQ9%DVIROORZV
3XEOLF7\SH&+226()217
O6WUXFW6L]H$V/RQJ VL]HRIWKLVVWUXFWXUH
KZQG2ZQHU$V/RQJ FDOOLQJZLQGRZ VKDQGOH
KGF$V/RQJ SULQWHU'&,&
OS/RJ)RQW$V/RQJ SRLQWHUWRWKH/2*)217VWUXFWXUH L3RLQW6L]H$V/RQJ VL]HLQSRLQWVRIVHOHFWHGIRQW
IODJV$V/RQJ RQHRUPRUHIODJV25 HGWRJHWKHU
UJE&RORUV$V/RQJ UHWXUQHGWH[WFRORU
O&XVW'DWD$V/RQJ GDWDSDVVHGWRKRRN
OSIQ+RRN$V/RQJ SRLQWHUWRKRRN
OS7HPSODWH1DPH$V6WULQJ FXVWRPWHPSODWHQDPH
K,QVWDQFH$V/RQJ LQVWDQFHKDQGOHRI(;(WKDW
FRQWDLQVFXVWRPGOJWHPSODWH OSV]6W\OH$V6WULQJ VW\OHILHOGKHUH
PXVWEH/)B)$&(6,=(RUELJJHU
Q)RQW7\SH$V,QWHJHU VDPHYDOXHUHSRUWHGWRWKH(QXP)RQWV
FDOOEDFNZLWKWKHH[WUD)2177<3(B ELWVDGGHG
0,66,1*B$/,*10(17$V,QWHJHU
Q6L]H0LQ$V/RQJ PLQLPXPSWVL]HDOORZHG
Q6L]H0D[$V/RQJ PD[SWVL]HDOORZHG
(QG7\SH
,WVPHPEHUVWKDWUHODWHWRVXEFODVVLQJDUH K,QVWDQFH
7KHLQVWDQFHKDQGOHRIWKHREMHFWWKDWFRQWDLQVWKHGLDORJUHVRXUFH7KLVLVXVXDOO\VHW
IODJV
HTXDOWRWKH$SSK,QVWDQFHSURSHUW\
)ODJVGHVFULELQJWKLVFRPPRQGLDORJER[7KH&)B(1$%/(7(03/$7(DQG
&)B(1$%/(+22.IODJVPXVWEHVHWWRXVHDPRGLILHGWHPSODWHDQGDGLDORJKRRN
IXQFWLRQ
OSIQ+RRN
$SRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQ
OS7HPSODWH1DPH
7KH,'RIWKHPRGLILHGGLDORJUHVRXUFH
7KLVVWUXFWXUHLVSDVVHGLQWRWKH&KRRVH)RQW'OJ$3,IXQFWLRQWRFUHDWHDQGGLVSOD\WKH)RQW
FRPPRQGLDORJER[7KLVIXQFWLRQLVGHFODUHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ&KRRVH)RQW/LEFRPGOJGOO$OLDV&KRRVH)RQW$B
S&KRRVHIRQW$V&+226()217 $V/RQJ
7KH3ULQWFRPPRQGLDORJ 7KH3ULQWFRPPRQGLDORJER[DOORZVWKHXVHUWRFKRRVHIURPDQDVVRUWPHQWRIRSWLRQVIRUD
SDUWLFXODUSULQWMRE2SWLRQVLQFOXGHWKHSULQWHUWRVHQGWKHMREWRWKHQXPEHURIWLPHVWRSULQW
WKHMREDQGWKHSDJHVWKDWFDQEHSULQWHGLQWKHGRFXPHQW7KLVFRPPRQGLDORJLVDYDLODEOH
WRDOOELW:LQGRZVRSHUDWLQJV\VWHPV
7RFUHDWHWKLVFRPPRQGLDORJLQLWLDOL]HWKH35,176758&7VWUXFWXUH$3ULQW6HWXSGLDORJ
ER[UDWKHUWKDQWKH3ULQWFRPPRQGLDORJER[DOVRFDQEHGLVSOD\HGE\VHWWLQJWKH
3'B35,176(783IODJLQWKHIODJVPHPEHURIWKLVVWUXFWXUH)RUQHZGHYHORSPHQWWKLV
FRPPRQGLDORJVKRXOGQRWEHXVHGLQVWHDGXVHWKH3DJH6HWXSFRPPRQGLDORJGHVFULEHG
QH[W7KH35,17'/*VWUXFWXUHLVGHILQHGLQ9%DVIROORZV
3XEOLF7\SH35,17'/*
O6WUXFW6L]H$V/RQJ VL]HRIWKLVVWUXFWXUH
KZQG2ZQHU$V/RQJ RZQLQJZLQGRZ
K'HY0RGH$V/RQJ SRLQWHUWR'(902'(VWUXFWXUH
K'HY1DPHV$V/RQJ SRLQWHUWR'(91$0(6VWUXFWXUH
KGF$V/RQJ KDQGOHWRDGHYLFHFRQWH[W
IODJV$V/RQJ RQHRUPRUHIODJV25 HGWRJHWKHU
Q)URP3DJH$V,QWHJHU VWDUWSDJH
Q7R3DJH$V,QWHJHU HQGLQJSDJH
Q0LQ3DJH$V,QWHJHU PLQLPXPVWDUWSDJHQXPEHU
Q0D[3DJH$V,QWHJHU PD[LPLQHQGLQJSDJHQXPEHU
Q&RSLHV$V,QWHJHU QXPEHURIFRSLHV
K,QVWDQFH$V/RQJ LQVWDQFHKDQGOH
O&XVW'DWD$V/RQJ DSSGHILQHGGDWDSDVVHGLQWRWKHKRRN
OSIQ3ULQW+RRN$V/RQJ SRLQWHUWRSULQWKRRN
OSIQ6HWXS+RRN$V/RQJ SRLQWHUWRVHWXSKRRN
OS3ULQW7HPSODWH1DPH$V/RQJ SULQWWHPSODWHQDPHLQUHVRXUFHILOH
OS6HWXS7HPSODWH1DPH$V/RQJ VHWXSWHPSODWHQDPHLQUHVRXUFHILOH
K3ULQW7HPSODWH$V/RQJ SULQWWHPSODWHQDPHLQPHPRU\REMHFW
K6HWXS7HPSODWH$V/RQJ VHWXSWHPSODWHQDPHLQPHPRU\REMHFW
(QG7\SH
7KHIROORZLQJPHPEHUVRIWKH35,17'/*VWUXFWXUHDUHUHODWHGWRVXEFODVVLQJ K,QVWDQFH
7KHLQVWDQFHKDQGOHRIWKHREMHFWWKDWFRQWDLQVWKHGLDORJUHVRXUFH7KLVLVXVXDOO\VHW
IODJV
HTXDOWRWKH$SSK,QVWDQFHSURSHUW\
)ODJVGHVFULELQJWKLVFRPPRQGLDORJER[7KH3'B(1$%/(35,177(03/$7(IODJ PXVWEHVHWWRXVHDPRGLILHGWHPSODWHIRUWKH3ULQWGLDORJER[7KH
3'B(1$%/(6(7837(03/$7(IODJPXVWEHVHWWRXVHDPRGLILHGWHPSODWHIRUWKH
3ULQW6HWXSGLDORJER[
OSIQ3ULQW+RRN
$SRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQ
OSIQ6HWXS+RRN
$SRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQ
OS3ULQW7HPSODWH1DPH
7KH,'RIWKHPRGLILHG3ULQWGLDORJUHVRXUFH
OS6HWXS7HPSODWH1DPH
7KH,'RIWKHPRGLILHG3ULQW6HWXSGLDORJUHVRXUFH
7KLVVWUXFWXUHLVSDVVHGWRWKH3ULQW'OJ$3,IXQFWLRQWRFUHDWHDQGGLVSOD\WKH3ULQWFRPPRQ
GLDORJER[7KLVIXQFWLRQLVGHFODUHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ3ULQW'OJ/LEFRPGOJGOO$OLDV3ULQW'OJ$B
/RQJ
S3ULQWGOJ$V35,17'/* $V
7KH3DJH6HWXSFRPPRQGLDORJ 7KH3DJH6HWXSFRPPRQGLDORJER[DOORZVWKHXVHUWRFKRRVHWKHSULQWLQJSURSHUWLHVIRUD
SDUWLFXODUSULQWMRE3URSHUWLHVLQFOXGHWKHSDSHUVL]HSDSHUVRXUFHRULHQWDWLRQDQGPDUJLQ VL]HV
7RFUHDWHWKLVFRPPRQGLDORJLQLWLDOL]HWKH3$*(6(783'/*VWUXFWXUH7KLVVWUXFWXUHLV
GHILQHGLQ9%DVIROORZV
3XEOLF7\SH3$*(6(783'/*
O6WUXFW6L]H$V/RQJ VL]HRIWKLVVWUXFWXUH KZQG2ZQHU$V/RQJ RZQLQJZLQGRZ
K'HY0RGH$V/RQJ SRLQWHUWR'(902'(VWUXFWXUH
K'HY1DPHV$V/RQJ SRLQWHUWR'(91$0(6VWUXFWXUH IODJV$V/RQJ RQHRUPRUHIODJV25 HGWRJHWKHU
SW3DSHU6L]H$V32,17$3, SRLQWHUWRD32,17$3,VWUXFWXUH
UW0LQ0DUJLQ$V5HFW PLQLPXPVL]HVRIWKHPDUJLQV UW0DUJLQ$V5HFW DFWXDOVL]HVRIWKHPDUJLQV K,QVWDQFH$V/RQJ LQVWDQFHKDQGOH
O&XVW'DWD$V/RQJ DSSGHILQHGGDWDSDVVHGLQWRWKHKRRN
OSIQ3DJH6HWXS+RRN$V/RQJ SRLQWHUWRSDJHVHWXSGLDORJKRRN
OSIQ3DJH3DLQW+RRN$V/RQJ SRLQWHUWRVDPSOHSDJHGLDORJKRRN
OS3DJH6HWXS7HPSODWH1DPH$V/RQJ SDJHVHWXSWHPSODWHQDPH
K3DJH6HWXS7HPSODWH$V/RQJ KDQGOHWRSDJHVHWXSWHPSODWH
(QG7\SH
,WKDVWKHIROORZLQJPHPEHUVWKDWDUHUHODWHGWRVXEFODVVLQJ K,QVWDQFH
7KHLQVWDQFHKDQGOHRIWKHREMHFWWKDWFRQWDLQVWKHGLDORJUHVRXUFH7KLVLVXVXDOO\VHW
IODJV
HTXDOWRWKH$SSK,QVWDQFHSURSHUW\
)ODJVGHVFULELQJWKLVFRPPRQGLDORJER[7KH36'B(1$%/(3$*( 6(7837(03/$7(IODJPXVWEHVHWWRXVHDPRGLILHGWHPSODWH7KH
36'B(1$%/(3$*(6(783+22.IODJPXVWEHVHWWRXVHWKHSDJHVHWXSKRRN
SRLQWHGWRE\WKHOSIQ3DJH6HWXS+RRNIXQFWLRQSRLQWHU7KH
36'B(1$%/(3$*(3$,17+22.IODJPXVWEHVHWWRXVHWKHSDJHVHWXSKRRN
SRLQWHGWRE\WKHOSIQ3DJH3DLQW+RRNIXQFWLRQSRLQWHU
OSIQ3DJH6HWXS+RRN
7KHSRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQ
OSIQ3DJH3DLQW+RRN
7KHSRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQZKLFKVSHFLILFDOO\
LQWHUFHSWVWKHSDLQWLQJPHVVDJHVIRUWKHVDPSOHSDJHREMHFWRQWKLVGLDORJER[
OS3ULQW7HPSODWH1DPH
7KH,'RIWKHPRGLILHGGLDORJUHVRXUFH
7KLVVWUXFWXUHLVSDVVHGLQWRWKH3DJH6HWXS'OJ$3,IXQFWLRQWRFUHDWHDQGGLVSOD\WKH3DJH
6HWXSFRPPRQGLDORJER[7KLVIXQFWLRQLVGHFODUHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ3DJH6HWXS'OJ/LEFRPGOJGOO$OLDV3DJH6HWXS'OJ$B
S3DJHVHWXSGOJ$V3$*(6(783'/* $V/RQJ
7KH3ULQW3URSHUW\6KHHWFRPPRQGLDORJ 7KH3ULQW3URSHUW\6KHHWFRPPRQGLDORJER[DOORZVWKHXVHUWRFKRRVHIURPDQDVVRUWPHQWRI
SURSHUWLHVIRUDSDUWLFXODUSULQWMRE2SWLRQVLQFOXGHGRQWKLVGLDORJDUHVLPLODUWRWKHRSWLRQV
RQWKH3ULQWFRPPRQGLDORJER[ZLWKWKHDGGLWLRQDORSWLRQVWRSULQWRQO\WKHFXUUHQWSDJHDQG
WRSULQWPRUHWKDQRQHUDQJHRISDJHVIRUDVLQJOHGRFXPHQW7KLVFRPPRQGLDORJUHSODFHV
WKH3ULQWFRPPRQGLDORJER[RQ:LQGRZVDQGJUHDWHUSODWIRUPV
7RFUHDWHWKLVFRPPRQGLDORJLQLWLDOL]HWKH35,17'/*(;VWUXFWXUH7KLVVWUXFWXUHLVGHFODUHG
LQ9%DVIROORZV
3XEOLF7\SH35,17'/*(;
O6WUXFW6L]H$V/RQJ VL]HRIWKLVVWUXFWXUH KZQG2ZQHU$V/RQJ RZQLQJZLQGRZ
K'HY0RGH$V/RQJ SRLQWHUWR'(902'(VWUXFWXUH
K'HY1DPHV$V/RQJ SRLQWHUWR'(91$0(6VWUXFWXUH
KGF$V/RQJ KDQGOHWRDGHYLFHFRQWH[W
IODJV$V/RQJ RQHRUPRUHIODJV25 HGWRJHWKHU IODJV$V/RQJ PXVWEHVHWWR]HUR
([FOXVLRQIODJV$V/RQJ H[FOXGHVFWUOVIURPSUQ'UY3URSSDJH Q3DJH5DQJHV$V/RQJ QXPEHURISDJHUDQJHV
Q0D[3DJH5DQJHV$V/RQJ VL]HRIOS3DJH5DQJHV
OS3DJH5DQJHV$V/RQJ SRLQWHUWRDUUD\RI35,173$*(5$1*(VWUXFW V
Q0LQ3DJH$V,QWHJHU PLQLPXPVWDUWSDJHQXPEHU
Q0D[3DJH$V,QWHJHU PD[LPLQHQGLQJSDJHQXPEHU Q&RSLHV$V,QWHJHU QXPEHURIFRSLHV K,QVWDQFH$V/RQJ LQVWDQFHKDQGOH
OS3ULQW7HPSODWH1DPH$V/RQJ GLDORJWHPSODWHIRU*HQHUDOWDE
OS&DOOEDFN$V/RQJ SRLQWHUWRDFDOOEDFNREMHFW
Q3URSHUW\3DJHV$V/RQJ QXPEHURISURSHUW\SDJHKDQGOHV
OSK3URSHUW\3DJHV$V6WULQJ SRLQWHUWRDUUD\RISURSHUW\SDJHKDQGOHV
QQ6WDUW3DJH$V/RQJ SURSHUW\SDJHLQLWLDOO\GLVSOD\HG
GZ5HVXOW$FWLRQ$V/RQJ UHWXUQVWKHUHVXOWVRIDFWLRQVLQWKLVGOJ
(QG7\SH
,WVPHPEHUVWKDWDUHUHODWHGWRVXEFODVVLQJDUH K,QVWDQFH
7KHLQVWDQFHKDQGOHRIWKHREMHFWWKDWFRQWDLQVWKHGLDORJUHVRXUFH7KLVLVXVXDOO\VHW
IODJV
HTXDOWRWKH$SSK,QVWDQFHSURSHUW\
)ODJVGHVFULELQJWKLVFRPPRQGLDORJER[7KH3'B(1$%/(35,177(03/$7(IODJ PXVWEHVHWWRXVHDPRGLILHGGLDORJWHPSODWHIRUWKH*HQHUDOWDE
OS&DOOEDFN
$SRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQ
OS3ULQW7HPSODWH1DPH
7KH,'RIWKHPRGLILHGGLDORJUHVRXUFHIRUWKH*HQHUDOWDE
7KLVVWUXFWXUHLVSDVVHGLQWRWKH3ULQW'OJ([$3,IXQFWLRQWRFUHDWHDQGGLVSOD\WKH3ULQW
3URSHUW\6KHHWFRPPRQGLDORJ7KLVIXQFWLRQLVGHFODUHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ3ULQW'OJ([/LEFRPGOJGOO$OLDV3ULQW'OJ$B
S3ULQWGOJ$V35,17'/*(; $V/RQJ
7KH35,17'/*(;25'GLDORJWHPSODWHORFDWHGLQWKH3UQ6HWXSGOJWHPSODWHILOHVKRXOGEH PRGLILHG7KLVGLDORJWHPSODWHZLOOEHGLVSOD\HGRQWKHORZHUSRUWLRQRIWKH*HQHUDOWDE
7KHUHLVQRPHPEHUZLWKLQWKH35,17'/*(;VWUXFWXUHWRDGGWKHW\SLFDOGLDORJKRRNIXQFWLRQ
SRLQWHUDVWKHUHLVZLWKWKHVWUXFWXUHVIRUWKHRWKHUW\SHVRIFRPPRQGLDORJER[HV,QVWHDG DQOS&DOOEDFNPHPEHULVDYDLODEOH7KLVPHPEHUKROGVDSRLQWHUWRD&RPSRQHQW2EMHFW
0RGHO&20 REMHFWZKLFKLPSOHPHQWVWKH,3ULQW'LDORJ&DOOEDFNLQWHUIDFH7KLVLQWHUIDFH
FRQWDLQVWKUHHPHWKRGVWKDWDUHFDOOHGWRSDVVLQIRUPDWLRQEDFNWRWKHDSSOLFDWLRQ
LPSOHPHQWLQJWKHFDOOEDFN&RGHLVDGGHGWRWKHVHWKUHHPHWKRGVDOORZLQJPHVVDJHVVHQWWR
WKHPRGLILHGGLDORJUHVRXUFHWREHKDQGOHG7KHWKUHHPHWKRGVDUH InitDone
&DOOHGZKHQWKH*HQHUDOWDEKDVILQLVKHGLQLWLDOL]LQJ,WVSURWRW\SHLV
+5(68/7,QLW'RQH +:1'K'OJ
8,17X0VJ
:3$5$0Z3DUDP /3$5$0O3DUDP
/5(68/7 S5HVXOW SelectionChanged
&DOOHGZKHQWKHXVHUVHOHFWVDGLIIHUHQWSULQWHURQWKH*HQHUDOWDE,WVSURWRW\SHLV
+5(68/76HOHFWLRQ&KDQJHG +:1'K'OJ 8,17X0VJ
:3$5$0Z3DUDP
/3$5$0O3DUDP
/5(68/7 S5HVXOW HandleMessage
,QWHUFHSWVDQ\PHVVDJHVVHQWWRWKHPRGLILHGGLDORJUHVRXUFHORFDWHGRQWKH*HQHUDO
WDE,WVSURWRW\SHLV
+5(68/7+DQGOH0HVVDJH +:1'K'OJ 8,17X0VJ
:3$5$0Z3DUDP /3$5$0O3DUDP
/5(68/7 S5HVXOW
ZLWKWKHIROORZLQJSDUDPHWHUV K'OJ
X0VJ
+DQGOHWRWKHPRGLILHGGLDORJUHVRXUFHRQWKH*HQHUDOWDE 0HVVDJH,'UHFHLYHGE\WKHPRGLILHGGLDORJUHVRXUFH
Z3DUDP O3DUDP S5HVXOW
([WUDLQIRUPDWLRQVHQWZLWKWKHPHVVDJHGHSHQGHQWRQWKHW\SHRIPHVVDJH
([WUDLQIRUPDWLRQVHQWZLWKWKHPHVVDJHGHSHQGHQWRQWKHW\SHRIPHVVDJH 3RLQWHUWRDYDOXHWKDWHTXDOV758(LIWKHPHVVDJHZDVSURFHVVHGLQWKLVPHWKRG
7KLVYDOXHHTXDOV)$/6(LIWKHPHVVDJHZDVQRWSURFHVVHG
7KLVIXQFWLRQUHWXUQV6B2.WRVWRSWKH3ULQW'OJ([IXQFWLRQIURPSHUIRUPLQJLWVGHIDXOW
IXQFWLRQDOLW\IRUWKLVPHVVDJH$UHWXUQYDOXHRI6B)$/6(DOORZVWKH3ULQW'OJ([IXQFWLRQWR
ILQLVKSHUIRUPLQJLWVGHIDXOWKDQGOLQJRIWKLVPHVVDJH 7KH)LQGFRPPRQGLDORJ
7KH)LQGFRPPRQGLDORJER[DOORZVDXVHUWRVHDUFKIRUDZKROHRUSDUWLDOZRUGLQWKH
GLVSOD\HGWH[W7KHXVHUFRQWUROVWKHGLUHFWLRQDQGWKHFDVHVHQVLWLYLW\RIWKHVHDUFK7KLV
GLDORJDQGWKH5HSODFHGLDORJDUHWKHRQO\WZRFRPPRQGLDORJER[HVWKDWDUHPRGHOHVV
7RFUHDWHWKLVFRPPRQGLDORJLQLWLDOL]HWKH),1'5(3/$&(VWUXFWXUH7KLVVWUXFWXUHLVGHILQHG
LQ9%DVIROORZV
3XEOLF7\SH),1'5(3/$&(
O6WUXFW6L]H$V/RQJ VL]HRIWKLVVWUXFW
KZQG2ZQHU$V/RQJ KDQGOHWRRZQLQJZLQGRZ
K,QVWDQFH$V/RQJ LQVWDQFHKDQGOHRI(;(WKDW
FRQWDLQVFXVWGOJWHPSODWH
IODJV$V/RQJ RQHRUPRUHIODJV25 HGWRJHWKHU
OSVWU)LQG:KDW$V6WULQJ SRLQWHUWRVHDUFKVWULQJ
OSVWU5HSODFH:LWK$V6WULQJ SRLQWHUWRUHSODFHVWULQJ
Z)LQG:KDW/HQ$V,QWHJHU VL]HRIILQGEXIIHU
Z5HSODFH:LWK/HQ$V,QWHJHU VL]HRIUHSODFHEXIIHU
O&XVW'DWD$V/RQJ FXVWRPGDWDSDVVHGWRKRRNIXQFWLRQ
OSIQ+RRN$V/RQJ SRLQWHUWRKRRNIXQFWLRQ
OS7HPSODWH1DPH$V/RQJ FXVWRPWHPSODWHQDPH
(QG7\SH
7KH),1'5(3/$&(PHPEHUVUHODWHGWRVXEFODVVLQJDUH K,QVWDQFH
7KHLQVWDQFHKDQGOHRIWKHREMHFWWKDWFRQWDLQVWKHGLDORJUHVRXUFH7KLVLVXVXDOO\VHW
IODJV
HTXDOWRWKH$SSK,QVWDQFHSURSHUW\
)ODJVGHVFULELQJWKLVFRPPRQGLDORJER[7KH)5B(1$%/(7(03/$7(DQG
)5B(1$%/(+22.IODJVPXVWEHVHWWRXVHDPRGLILHGWHPSODWHDQGDGLDORJKRRN
IXQFWLRQ
OSIQ+RRN
7KHSRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQ
OS7HPSODWH1DPH
7KH,'RIWKHPRGLILHGGLDORJUHVRXUFH
7KLVVWUXFWXUHLVSDVVHGWRWKH)LQG7H[W$3,IXQFWLRQWRFUHDWHDQGGLVSOD\WKH)LQGFRPPRQ
GLDORJER[7KLVIXQFWLRQLVGHFODUHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ)LQG7H[W/LEFRPGOJGOO$OLDV)LQG7H[W$B
S)LQGUHSODFH$V),1'5(3/$&( $V/RQJ
7KH5HSODFHFRPPRQGLDORJ 7KH5HSODFHFRPPRQGLDORJER[DOORZVDXVHUWRVHDUFKIRUDQGUHSODFHDZKROHRUSDUWLDO
ZRUGLQWKHGLVSOD\HGWH[W7KHXVHUFRQWUROVWKHFDVHVHQVLWLYLW\RIWKHVHDUFK7ZRHGLW
ER[HVDUHSURYLGHGRQHIRUWKHWH[WWREHUHSODFHGDQGRQHIRUWKHUHSODFHPHQWWH[W%XWWRQV
DUHSURYLGHGRQWKLVGLDORJWRDOORZVHDUFKLQJIRUWH[WWREHUHSODFHGUHSODFLQJWKHVHOHFWHG
WH[WUHSODFLQJDOOWH[WLQWKHGRFXPHQWDWRQFHDQGFDQFHOLQJWKHGLDORJ7KLVGLDORJDQGWKH
)LQGGLDORJDUHWKHRQO\WZRFRPPRQGLDORJER[HVWKDWDUHPRGHOHVV
7RFUHDWHWKLVFRPPRQGLDORJLQLWLDOL]HWKH),1'5(3/$&(VWUXFWXUH7KLVVWUXFWXUHLVGHILQHG
LQ9%DVIROORZV
3XEOLF7\SH),1'5(3/$&(
O6WUXFW6L]H$V/RQJ VL]HRIWKLVVWUXFW
KZQG2ZQHU$V/RQJ KDQGOHWRRZQLQJZLQGRZ
K,QVWDQFH$V/RQJ LQVWDQFHKDQGOHRI(;(WKDW
FRQWDLQVFXVWGOJWHPSODWH
IODJV$V/RQJ RQHRUPRUHIODJV25 HGWRJHWKHU OSVWU)LQG:KDW$V6WULQJ SRLQWHUWRVHDUFKVWULQJ
OSVWU5HSODFH:LWK$V6WULQJ SRLQWHUWRUHSODFHVWULQJ Z)LQG:KDW/HQ$V,QWHJHU VL]HRIILQGEXIIHU
Z5HSODFH:LWK/HQ$V,QWHJHU VL]HRIUHSODFHEXIIHU
O&XVW'DWD$V/RQJ FXVWRPGDWDSDVVHGWRKRRNIXQFWLRQ
OSIQ+RRN$V/RQJ SRLQWHUWRKRRNIXQFWLRQ
OS7HPSODWH1DPH$V/RQJ FXVWRPWHPSODWHQDPH
(QG7\SH
7KHPHPEHUVRI),1'5(3/$&(WKDWDUHUHODWHGWRVXEFODVVLQJDUH K,QVWDQFH
7KHLQVWDQFHKDQGOHRIWKHREMHFWWKDWFRQWDLQVWKHGLDORJUHVRXUFH7KLVLVXVXDOO\VHW
IODJV
HTXDOWRWKH$SSK,QVWDQFHSURSHUW\
)ODJVGHVFULELQJWKLVFRPPRQGLDORJER[7KH)5B(1$%/(7(03/$7(DQG
)5B(1$%/(+22.IODJVPXVWEHVHWWRXVHDPRGLILHGWHPSODWHDQGDGLDORJKRRN
IXQFWLRQ
OSIQ+RRN
7KHSRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQ
OS7HPSODWH1DPH
7KH,'RIWKHPRGLILHGGLDORJUHVRXUFH
7KLVVWUXFWXUHLVSDVVHGLQWRWKH5HSODFH7H[W$3,IXQFWLRQWRFUHDWHDQGGLVSOD\WKH5HSODFH
FRPPRQGLDORJER[7KLVIXQFWLRQLVGHFODUHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ5HSODFH7H[W/LEFRPGOJGOO$OLDV5HSODFH7H[W$B
S)LQGUHSODFH$V),1'5(3/$&( $V/RQJ
5HFHLYLQJ1RWLILFDWLRQDQG&RQWURO0HVVDJHVIURPWKH'LDORJ 7KHEDVLFVWUXFWXUHRIWKHGLDORJKRRNSURFHGXUHIRUWKHVHFRPPRQGLDORJER[HVUHPDLQVWKH
VDPHDVWKHRQHSURYLGHGZLWKWKH6DYH$VH[DPSOH1RWHWKRXJKWKDWVHYHUDORIWKH
FRPPRQGLDORJVXVHPHVVDJHVVSHFLILFWRWKHLURZQRSHUDWLRQ)RUH[DPSOHWKH2SHQDQG 6DYH$VGLDORJVXVHWKH&'1B)2/'(5&+$1*(PHVVDJHWRLQGLFDWHWKDWWKHXVHUKDV
FKDQJHGIROGHUVLQWKHGLDORJWKLVPHVVDJHGRHVQRWDSSO\WRWKHRWKHUFRPPRQGLDORJV
:KDWIROORZVLVDOLVWRIPHVVDJHVVSHFLILFWRHDFKFRPPRQGLDORJWKH&RORUGLDORJ
LPSOHPHQWVWKHIROORZLQJPHVVDJHV COLOROKSTRING
6HQWZKHQWKHXVHUFOLFNVWKHGLDORJ V2.EXWWRQ,IWKHGLDORJKRRNSURFHGXUHUHWXUQV
DWKHVHOHFWHGFRORULVUHMHFWHGDQGWKHGLDORJVWD\VRSHQ SETRGBSTRING
7KLVPHVVDJHFDQEHVHQWE\WKHGLDORJKRRNSURFHGXUHWRIRUFHDFRORUWREH
VHOHFWHGLQWKHGLDORJER[
7RXVHHLWKHUPHVVDJHWKHPHVVDJHPXVWILUVWEHPDQXDOO\UHJLVWHUHGE\\RXUDSSOLFDWLRQ
XVLQJWKH5HJLVWHU:LQGRZ0HVVDJHIXQFWLRQ7KLVIXQFWLRQLVGHFODUHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ5HJLVWHU:LQGRZ0HVVDJH/LEXVHUB
$OLDV5HJLVWHU:LQGRZ0HVVDJH$B %\9DOOS6WULQJ$V6WULQJ $V/RQJ 7KHIXQFWLRQ VVLQJOHSDUDPHWHULV OS6WULQJ
$QXOOWHUPLQDWHGVWULQJWKDWLGHQWLILHVWKHQHZPHVVDJH
7KHIXQFWLRQUHWXUQVDXQLTXHQXPEHULGHQWLI\LQJWKHPHVVDJHLQWKHUDQJHRI +&WR
+))))0HVVDJHVLQWKLVUDQJHDUHJOREDOWRWKHV\VWHPWKHUHIRUHDIWHUDPHVVDJHLV
UHJLVWHUHGDQ\DSSOLFDWLRQFDQXVHLW,ID]HURLVUHWXUQHGWKHPHVVDJHIDLOHGWRUHJLVWHU
:KHQUHJLVWHUHGWKHQHZPHVVDJHFDQEHVHQWXVLQJ6HQG0HVVDJHRU3RVW0HVVDJH7KH
GLDORJKRRNSURFHGXUHDOVRFDQLQWHUFHSWLW
7KHIROORZLQJLVWKHFRGHXVHGWRUHJLVWHUWKHVHWZR&RORUGLDORJPHVVDJHV
'LP&OU2.0VJDV/RQJ
'LP6HW5*%0VJDV/RQJ
&OU2.0VJ 5HJLVWHU:LQGRZ0HVVDJH&2/252.675,1*
6HW5*%0VJ 5HJLVWHU:LQGRZ0HVVDJH6(75*%675,1* 7KH)RQWGLDORJLPSOHPHQWVWKHIROORZLQJPHVVDJHV WM_CHOOSEFONT_GETLOGFONT
7KLVPHVVDJHFDQEHVHQWE\WKHGLDORJKRRNSURFHGXUHWRUHWXUQLQIRUPDWLRQRQWKH
FXUUHQWO\VHOHFWHGIRQW WM_CHOOSEFONT_SETLOGFONT
7KLVPHVVDJHFDQEHVHQWE\WKHGLDORJKRRNSURFHGXUHWRVHWWKHVHOHFWHGIRQW WM_CHOOSEFONT_SETFLAGS
7KLVPHVVDJHFDQEHVHQWE\WKHGLDORJKRRNSURFHGXUHWRFKDQJHWKHIODJVFXUUHQWO\
VHWLQWKH&+226()217VWUXFWXUH
7KH2SHQDQG6DYH$VGLDORJVLPSOHPHQWWKHIROORZLQJPHVVDJHV CDN_FILEOK 7KH2SHQRU6DYHEXWWRQZDVFOLFNHG CDN_FOLDERCHANGE
7KHFXUUHQWO\VHOHFWHGIROGHUKDVFKDQJHG CDN_HELP 7KH+HOSEXWWRQZDVFOLFNHG CDN_INITDONE
7KHGLDORJKDVILQLVKHGLWVLQLWLDOL]DWLRQLQFOXGLQJSURFHVVLQJWKH:0B,1,7',$/2*
PHVVDJH CDN_SELCHANGE
$QHZILOHRUIROGHUKDVEHHQVHOHFWHG CDN_SHAREVIOLATION
$VKDULQJYLRODWLRQKDVRFFXUUHGZKLOHWU\LQJWRVDYHRURSHQWKHVHOHFWHGILOH CDN_TYPECHANGE $QHZILOHW\SHKDVEHHQVHOHFWHG
$OOWKHVHPHVVDJHVDUHVHQWWRWKHGLDORJDVDSDUDPHWHURIWKH:0B127,)<PHVVDJH7KH
6DYH$VDQG2SHQGLDORJER[HVDUHWKHRQO\WZRWKDWVXSSRUWWKHVHQRWLILFDWLRQPHVVDJHV
7KHIROORZLQJ6HOHFW&DVHFRGHEORFNVKRXOGEHXVHGLQWKHGLDORJKRRNSURFHGXUHRQO\ZKHQ
XVLQJHLWKHUWKH6DYH$VRU2SHQGLDORJV
6HOHFW&DVHX0VJ
&DVH:0B127,)<
&RS\0HPRU\10+6WUXFW%\9DOO3DUDP/HQ%10+6WUXFW
6HOHFW&DVH10+6WUXFWFRGH
&DVH&'1B,1&/8'(,7(0
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
'R(YHQWV
&'1B,1&/8'(,7(0 YE1HZ/LQH
&DVH&'1B,1,7'21(
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
'R(YHQWV
&'1B,1,7'21( YE1HZ/LQH
&DVH&'1B6(/&+$1*(
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
'R(YHQWV
&'1B6(/&+$1*( YE1HZ/LQH
&DVH&'1B)2/'(5&+$1*(
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
'R(YHQWV
&'1B)2/'(5&+$1*( YE1HZ/LQH
&DVH&'1B+(/3
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
'R(YHQWV
&'1B+(/3 YE1HZ/LQH
&DVH&'1B),/(2.
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
'R(YHQWV
&'1B),/(2. YE1HZ/LQH
&DVH&'1B6+$5(9,2/$7,21
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
'R(YHQWV
&'1B6+$5(9,2/$7,21 YE1HZ/LQH
&DVH&'1B7<3(&+$1*(
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
'R(YHQWV
&'1B7<3(&+$1*( YE1HZ/LQH
&DVH(OVH
IUP0DLQW[W0VJ7H[W IUP0DLQW[W0VJ7H[W +H[KZQG B
(QG6HOHFW
&6WUX0VJ YE1HZ/LQH
2WKHU&DVHVWDWHPHQWV
(QG6HOHFW
)RUWKH3DJH6HWXSGLDORJLIWKH36'B(1$%/(3$*(3$,17+22.IODJLVVHWLQWKH
3$*(6(783'/*IODJVPHPEHUDVHFRQGKRRNIXQFWLRQFDQEHLPSOHPHQWHG7KLVKRRN
IXQFWLRQLQWHUFHSWVWKHIROORZLQJPHVVDJHVZKLFKPRGLI\WKHORRNRIWKHVDPSOHSDJHLPDJH
DWWKHWRSRIWKLVFRPPRQGLDORJER[ WM_PSD_PAGESETUPDLG
&RQWDLQVLQIRUPDWLRQUHJDUGLQJWKHSDSHUVL]HSDSHURULHQWDWLRQDQGW\SHRISULQWHU
GHYLFH WM_PSD_FULLPAGERECT
&RQWDLQVD5(&7VWUXFWXUHGHILQLQJWKHORFDWLRQDQGVL]HRIWKHVDPSOHSDJHLPDJH WM_PSD_MINMARGINRECT &RQWDLQVD5(&7VWUXFWXUHGHILQLQJWKHORFDWLRQDQGPLQLPXPVL]HRIWKHUHFWDQJOH
LQGLFDWLQJWKHPDUJLQ WM_PSD_MARGINRECT
&RQWDLQVD5(&7VWUXFWXUHGHILQLQJWKHORFDWLRQDQGVL]HRIWKHUHFWDQJOHLQGLFDWLQJ
WKHPDUJLQ WM_PSD_GREEKTEXTRECT
&RQWDLQVD5(&7VWUXFWXUHGHILQLQJWKHORFDWLRQDQGVL]HRIWKHUHFWDQJOHFRQWDLQLQJ
WKH*UHHNWH[W WM_PSD_ENVSTAMPRECT
&RQWDLQVD5(&7VWUXFWXUHGHILQLQJWKHORFDWLRQDQGVL]HRIWKHUHFWDQJOHLQGLFDWLQJ
WKHHQYHORSHDQGVWDPS7KLVPHVVDJHLVVHQWRQO\IRUHQYHORSHSULQWMREV WM_PSD_YAFULLPAGERECT
&RQWDLQVD5(&7VWUXFWXUHGHILQLQJWKHORFDWLRQDQGPLQLPXPVL]HRIWKHUHFWDQJOH
LQGLFDWLQJDQHQYHORSH VUHWXUQDGGUHVV7KLVPHVVDJHLVVHQWRQO\IRUHQYHORSHSULQW
MREV
7KH)LQGDQG5HSODFHGLDORJVLPSOHPHQWWKHIROORZLQJPHVVDJH
FINDMSGSTRING
6HQWE\WKH)LQGRU5HSODFHGLDORJER[WRWKHZLQGRZSURFHGXUHRIWKHZLQGRZWKDW
RZQVHLWKHURIWKHVHFRPPRQGLDORJV7KLVPHVVDJHLVVHQWLQUHVSRQVHWRWKHXVHU
FOLFNLQJWKH5HSODFH5HSODFH$OORU)LQG1H[WEXWWRQ7KLVPHVVDJHDOVRLVVHQWWR
LQIRUPWKHRZQLQJZLQGRZWKDWWKHXVHUKDVFORVHGWKLVGLDORJ
7KLVPHVVDJHDOVRPXVWEHUHJLVWHUHGZLWKWKH5HJLVWHU:LQGRZ0HVVDJHIXQFWLRQ7KH RZQLQJZLQGRZFDQEHVXEFODVVHGWRZDWFKIRUWKLVPHVVDJH
3UREOHPV6XEFODVVLQJWKH)LQGDQG5HSODFH&RPPRQ'LDORJV 7KH)LQGDQG5HSODFHFRPPRQGLDORJER[HVRSHUDWHGLIIHUHQWO\WKDQDOORWKHUFRPPRQGLDORJ
ER[HVLQRQHUHVSHFW7KHVHFRPPRQGLDORJVDUHPRGHOHVV7KLVPHDQVWKDWFRGHZLOO
FRQWLQXHH[HFXWLQJLQWKHFDOOLQJSURFHGXUHLWZLOOQRWZDLWIRUWKHGLDORJWREHFORVHG)RUD
PRGHOHVVGLDORJWRZRUNSURSHUO\:LQGRZVUHTXLUHVWKDWWKH,V'LDORJ0HVVDJH$3,IXQFWLRQ
EHXVHGLQWKHPDLQPHVVDJHORRSRIWKHDSSOLFDWLRQ7KH,V'LDORJ0HVVDJH$3,IXQFWLRQ
EDVLFDOO\GRHVWKHZRUNRIWKH7UDQVODWH0HVVDJHDQGWKH'LVSDWFK0HVVDJH$3,IXQFWLRQV
EXWIRUPRGHOHVVGLDORJER[HV7KHUHIRUHLI,V'LDORJ0HVVDJHUHWXUQVD758(YDOXHLWKDV
SURFHVVHGWKHPHVVDJHDQGWKH7UDQVODWH0HVVDJHDQGWKH'LVSDWFK0HVVDJH$3,IXQFWLRQV
VKRXOGQRWEHFDOOHG7KH,V'LDORJ0HVVDJH$3,IXQFWLRQ VPDLQSXUSRVHLVWRSURYLGHGHIDXOW
GLDORJNH\ERDUGSURFHVVLQJIRUWKHPRGHOHVVGLDORJER[0RGDOGLDORJER[HVDXWRPDWLFDOO\
VXSSRUWGHIDXOWGLDORJNH\ERDUGSURFHVVLQJ+HUHLVWKHOLVWRIGHIDXOWGLDORJNH\ERDUGNH\V
SURFHVVHGE\WKH,V'LDORJ0HVVDJH$3,IXQFWLRQ ALT+mnemonic
0RYHVWKHIRFXVWRWKHILUVWFRQWUROLQWKHWDERUGHUDIWHUWKHVWDWLFFRQWUROFRQWDLQLQJ
WKLVPQHPRQLF DOWN UP ENTER ESC LEFT RIGHT
0RYHVWKHIRFXVWRWKHQH[WFRQWURO 0RYHVWKHIRFXVWRWKHSUHYLRXVFRQWURO 6LPXODWHVFOLFNLQJWKH2.EXWWRQ 6LPXODWHVFOLFNLQJWKH&DQFHOEXWWRQ 0RYHVWKHIRFXVWRWKHSUHYLRXVFRQWURO 0RYHVWKHIRFXVWRWKHQH[WFRQWURO
TAB
0RYHVWKHIRFXVWRWKHQH[WFRQWURO SHIFT+TAB
0RYHVWKHIRFXVWRWKHSUHYLRXVFRQWURO Mnemonic (performs same action as the ALT+mnemonic key combination)
0RYHVWKHIRFXVWRWKHILUVWFRQWUROLQWKHWDERUGHUDIWHUWKHVWDWLFFRQWUROFRQWDLQLQJ
WKLVPQHPRQLF
8VLQJ6S\WR3HHULQWRWKH&RPPRQ'LDORJ 6XEFODVVLQJ$SSOLFDWLRQ
6WDUWWKH&KDSWHUH[DPSOHDQGWKHQUXQ6S\&OLFNWKHEXWWRQLQ
WKHH[DPSOHDSSOLFDWLRQWRGLVSOD\WKHVXEFODVVHG6DYH$VFRPPRQ GLDORJER[/RFDWHWKHH[DPSOHDSSOLFDWLRQDQGWKH([SRUW$V
VXEFODVVHGFRPPRQGLDORJER[LQWKH:LQGRZVFKLOGZLQGRZRI
6S\7KH([SRUW$VFRPPRQGLDORJER[ZLOOEHODEHOHG([SRUW$V
6XEFODVVHG&RPPRQ'LDORJ ,WDOVRZLOOFRQWDLQWKHWH[W
DIWHUWKHZLQGRZFDSWLRQ7KLVYDOXHLVWKHFODVVQDPHIRUDZLQGRZ V GLDORJER['RXEOHFOLFNWKLVGLDORJER[WRGLVSOD\WKH:LQGRZ
3URSHUWLHVGLDORJER[7KLVFODVVQDPHDOVRFDQEHIRXQGRQWKH &ODVVWDERIWKH:LQGRZ3URSHUWLHVGLDORJER[
,I\RXH[SDQGWKHEUDQFKIRUWKH([SRUW$VFRPPRQGLDORJ\RXZLOO
VHHDOOWKHFRQWUROVWKDWPDNHXSWKDWFRPPRQGLDORJER[,WLVKHUH
WKDW\RXFDQILQGWKH,'VIRUDOOWKHGLDORJ VFRQWUROV
GLDORJWHPSODWHUHVRXUFH,I\RXORRNDWWKHZLQGRZSURFHGXUHIRUWKLV FKLOGGLDORJDQGFRPSDUHLWWRWKHZLQGRZSURFHGXUHRILWVSDUHQW
GLDORJER[\RXZLOOVHHWKDWWKH\DUHWKHVDPH7KHUHIRUHZHFDQ
GHGXFHWKDWDOOPHVVDJHVIRUWKHSDUHQWDQGWKHFKLOGGLDORJER[HV
DUHKDQGOHGLQRQHZLQGRZSURFHGXUH7KLVZLQGRZSURFHGXUHLVWKH
VDPHIRUWKHGLDORJER[*HQHUDOWDE DVLWLVIRUWKHFODVV&ODVVWDE 7KLVPHDQVWKDWWKLVZLQGRZGLDORJ SURFHGXUHKDVQRWEHHQ
VXEFODVVHG6RWKHGLDORJKRRNSURFHGXUHUHDOO\LVDKRRNDQGQRWD VXEFODVVHGGLDORJSURFHGXUH
,I\RXH[SDQGWKHEUDQFKIRUWKHFKLOGGLDORJER[\RXZLOOVHHDOOWKH
FRQWUROVWKDW\RXSODFHGRQ\RXUGLDORJWHPSODWHUHVRXUFH7KHFODVV
QDPHVIRUWKHFRQWUROVDUHQRWSUHFHGHGE\WKHZRUG7KXQGHUHYHQ
LI\RXGLGLPSRUWWKH9%IRUPLQWRWKH9LVXDO&UHVRXUFHHGLWRU
7KHUHIRUHWKH\ZLOODOOKDYHGLIIHUHQWZLQGRZSURFHGXUHVZLWKUHVSHFW WRWKHLUFODVVHV
8VLQJWKH:LQGRZVWDERIWKH:LQGRZ3URSHUWLHVGLDORJER[ZHFDQ YHULI\WKDWWKHRULJLQDOFRPPRQGLDORJER[LVWKHSDUHQWWRWKHFKLOG
GLDORJER[FUHDWHGIURPWKHUHVRXUFHILOH7RGRWKLVGRXEOHFOLFNWKH FKLOGGLDORJER[DQGILQGWKHKDQGOHYDOXHLQWKH3DUHQW:LQGRZILHOG RQWKH:LQGRZVWDE&RPSDUHWKLVWRWKHKDQGOHRIWKHGHIDXOW FRPPRQGLDORJER[7KH\DUHWKHVDPH
)RUD9%DSSOLFDWLRQWKHUHLVDZD\DURXQGWKLV7KH
:+B*(70(66$*(KRRNPXVWEHXVHGWRWUDSPHVVDJHVVHQWWRWKH
GLDORJER[EHIRUHWKH\UHDFKWKHGLDORJER[ VGLDORJSURFHGXUH7KLV
KRRNLVLQVWDOOHGZKLOHKDQGOLQJWKH:0B,1,7',$/2*PHVVDJHDQGLWLV XQLQVWDOOHGZKLOHKDQGOLQJWKH:0B'(6752<PHVVDJH7KH
:+B*(70(66$*(KRRNIXQFWLRQWKHQZDLWVIRUNH\ERDUGPHVVDJHVWR
DUULYH:KHQDNH\ERDUGPHVVDJHDUULYHVLWVHQGVLWWRWKH
,V'LDORJ0HVVDJH$3,IXQFWLRQ,IWKLV$3,IXQFWLRQUHWXUQV758(LWKDV SURFHVVHGWKHPHVVDJHDQGWKHNH\ERDUGPHVVDJHVKRXOGQRWEH
SDVVHGRQWRWKHGHIDXOWGLDORJSURFHGXUH,ILWUHWXUQV)$/6(LWGLGQRW SURFHVVWKHPHVVDJHDQGWKHGHIDXOWGLDORJSURFHGXUHQHHGVWR SURFHVVWKLVPHVVDJH7KH:+B*(70(66$*(KRRNIXQFWLRQLV GLVFXVVHGLQ&KDSWHU
8QIRUWXQDWHO\LWLVQRWSRVVLEOHWRDGGWKH,V'LDORJ0HVVDJH$3,IXQFWLRQWRWKHPDLQPHVVDJH
ORRSRID9%DSSOLFDWLRQ7KHPDLQPHVVDJHORRSIRUD9%DSSOLFDWLRQLVORFDWHGLQ
7KXQGHU570DLQ,QD9LVXDO&DSSOLFDWLRQWKHPDLQPHVVDJHORRSRIDQDSSOLFDWLRQWKDW
XVHVPRGHOHVVGLDORJER[HVZRXOGORRNVRPHWKLQJOLNHWKLV
ZKLOH*HW0HVVDJH PVJ18// ^
LI18//
K'OJ&XUUHQW__,V'LDORJ0HVVDJHK'OJ&XUUHQW PVJ
^
'LVSDWFK0HVVDJH PVJ
`
7UDQVODWH0HVVDJH PVJ `
&KDSWHU$FWLYH;&RQWUROVDQG6XEFODVVLQJ 7KLVFKDSWHUGHDOVZLWKWKHGLIIHUHQWZD\VRIXVLQJVXEFODVVLQJZLWKDQ$FWLYH;FRQWURO,W
FRYHUVWKHIROORZLQJWRSLFV • • • •
6XEFODVVLQJDWKLUGSDUW\$FWLYH;FRQWURO
6XEFODVVLQJDQ$FWLYH;FRQWUROWKDW\RXFUHDWHG
6XEFODVVLQJD8VHU&RQWUROIURPZLWKLQWKH9LVXDO%DVLF9% FRQWURO 6XEFODVVLQJD9%IRUPIURPRQHRUPRUH$FWLYH;FRQWUROV
6XEFODVVLQJD7KLUG3DUW\$FWLYH;&RQWURO 7KLVLVWKHHDVLHVWRIWKHIRXUW\SHVRIVXEFODVVLQJGLVFXVVHGLQWKLVFKDSWHU6XEFODVVLQJD
WKLUGSDUW\$FWLYH;FRQWUROLVH[DFWO\WKHVDPHDVVXEFODVVLQJD9%IRUP7KHUHLVQR
GLIIHUHQFHEHFDXVHWKHV\VWHPVHHVERWKWKHFRQWURODQGWKHIRUPDVZLQGRZV8VLQJ
6HW:LQGRZ/RQJ3WU\RXZRXOGVXEFODVVWKHFRQWUROMXVWOLNH\RXZRXOGDQ\RWKHUZLQGRZ
3ULYDWH6XE)RUPB/RDG
J&WUO:QG3URF 6HW:LQGRZ/RQJ3WU%XWWRQ*HW+ZQG*:/B:1'352&$GGUHVV2I &WUO3URF (QG6XE
WKHZLQGRZPHVVDJHRQWRWKHRULJLQDOZLQGRZSURFHGXUHE\ZD\RI&DOO:LQGRZ3URFDVWKH
IROORZLQJVXEFODVVIXQFWLRQLQGLFDWHV
3XEOLF)XQFWLRQ&WUO3URF%\9DOK:QG$V/RQJ%\9DOX0VJ$V/RQJB
'RVXEFODVVLQJZRUNKHUH
/RQJ
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V
J&WUO:QG3URF 6HW:LQGRZ/RQJ3WU%XWWRQ*HW+ZQG*:/B:1'352&B $GGUHVV2I&WUO3URF
8VLQJ6HW:LQGRZ/RQJ3WUWKHVXEFODVVSURFHGXUHLVUHPRYHGIURPWKHFRQWUROVLPLODUWR
UHPRYLQJWKHVXEFODVVSURFHGXUHIURPDQ\RWKHUZLQGRZ 3ULYDWH6XE)RUPB8QORDG&DQFHO$V,QWHJHU 'LP5HW9DO$V/RQJ
5HW9DO 6HW:LQGRZ/RQJ3WU%XWWRQ*HW+ZQG*:/B:1'352&J&WUO:QG3URF
(QG6XE
1RZWKDWZHFDQVXEFODVVDFRQWUROZHZLOOPRYHRQWRVXEFODVVLQJDFRQWUROWKDWZHFUHDWH
ZLWKLQWKH9%HQYLURQPHQW
6XEFODVVLQJDQ$FWLYH;&RQWURO&UHDWHGLQ9% 6XEFODVVLQJDQ$FWLYH;FRQWUROWKDWZHFUHDWHWKURXJK9%LVVLPLODUWRVXEFODVVLQJDWKLUG SDUW\FRQWURO+RZHYHUZHPXVWRYHUFRPHRQHVPDOOKXUGOHILUVW7KHSUREOHPLVWKDWWKH
8VHU&RQWUROPRGXOH VKZQGSURSHUW\LVQRWYLVLEOHRXWVLGHRIWKH8VHU&RQWUROPRGXOH
JHWWKHKDQGOHWRWKHFRQWURO7KLVIXQFWLRQLVGHFODUHGLQWKLVPDQQHULQ9%
3ULYDWH'HFODUH)XQFWLRQ)LQG:LQGRZ([/LEXVHU$OLDV)LQG:LQGRZ([$B
%\9DOK:QG$V/RQJ%\9DOK:QG$V/RQJB
%\9DOOSV]$V6WULQJ%\9DOOSV]$V6WULQJ $V/RQJ
7KHIXQFWLRQKDVWKHIROORZLQJSDUDPHWHUV K:QG
7KHK:QGRIWKHSDUHQWZLQGRZWRWKHZLQGRZWKDW\RXZDQWWRILQG7KHIXQFWLRQ
XVHVWKLVSDUDPHWHUDVDVWDUWLQJSRLQWIRUVHDUFKLQJIRUWKHWDUJHWZLQGRZ,I1XOOWKH
K:QG
IXQFWLRQXVHVWKHGHVNWRSDVWKHSDUHQWZLQGRZ
7KHK:QGRIDQ\FKLOGZLQGRZVWRWKHZLQGRZVSHFLILHGE\WKHK:QGSDUDPHWHU,ID
YDOLGFKLOGZLQGRZKDQGOHLVSURYLGHGWKLVIXQFWLRQVWDUWVVHDUFKLQJWKURXJKDOOWKH
OSV] OSV]
ZLQGRZVWKDWDUHFKLOGUHQWRWKHZLQGRZVSHFLILHGE\WKLVSDUDPHWHU
7KHFODVVQDPHRUFODVVDWRPRIWKHZLQGRZWKDWZHDUHVHDUFKLQJIRU 7KHFDSWLRQRIWKHZLQGRZWKDWZHDUHVHDUFKLQJIRU
,IWKLVIXQFWLRQVXFFHHGVWKHK:QGRIWKHZLQGRZLVUHWXUQHGRWKHUZLVHD]HURLVUHWXUQHG
LQGLFDWLQJIDLOXUH
([DPSOHVKRZVWKHFRGHWRILQGWKHK:QGRID9%FUHDWHG$FWLYH;FRQWURO ([DPSOH)LQGLQJWKH:LQGRZ+DQGOHRIDQ$FWLYH;&RQWURO&UHDWHGZLWK9% 3ULYDWH6XE)RUPB/RDG 'LPUHWYDO$V/RQJ
8VHWKH7KXQGHU8VHU&RQWURO'&FODVVLI\RXDUHUXQQLQJLQVLGHRIWKH,'(
UHWYDO )LQG:LQGRZ([)RUPK:QG7KXQGHU578VHU&RQWURO'&YE1XOO6WULQJ
(QG 6XE
7KHILUVWDUJXPHQWWRWKH)LQG:LQGRZ([IXQFWLRQLVWKHKDQGOHWRWKHIRUPZKHUHWKH
8VHU&RQWUROH[LVWV7KHVHFRQGDUJXPHQWLV]HUREHFDXVHWKH8VHU&RQWUROLVQRWDFKLOG
ZLQGRZRIDQRWKHUFRQWURORQWKHIRUP,IWKH8VHU&RQWUROZHUHFRQWDLQHGLQVLGHDQRWKHU
FRQWURORQWKHIRUPWKHVHFRQGSDUDPHWHUK:QGZRXOGFRQWDLQWKHK:QGRIWKLVFRQWURO
7KHWKLUGDUJXPHQWLVWKHFODVVQDPHRIWKH8VHU&RQWURO
6S\5HPHPEHUWKDWWKHFODVVQDPHLVGLIIHUHQWZKHQUXQQLQJLQVLGHWKH,'(DVRSSRVHG
WRUXQQLQJLQDVWDQGDORQHH[HFXWDEOH7KHFODVVQDPHIRUD8VHU&RQWUROUXQQLQJLQWKH,'(LV
7KXQGHU8VHU&RQWURO'&WKHFODVVQDPHIRUD8VHU&RQWUROUXQQLQJLQDVWDQGDORQHH[HFXWDEOH
LV7KXQGHU578VHU&RQWURO'&
7KHODVWDUJXPHQWLVYE1XOO6WULQJ
FDQYDOLGDWHWKLVDVZHOOWKURXJK6S\DVVKRZQLQ)LJXUH
)LJXUH/RRNLQJDWWKHFDSWLRQRID8VHU&RQWURO
$VQRWHGSUHYLRXVO\\RXFDQJHWWKHK:QGRID8VHU&RQWUROLQDQRWKHUZD\,I\RXXVHWKH
2EMHFW%URZVHULQFOXGHGZLWK9%WRORRNWKURXJKWKHSURSHUWLHVRIWKH8VHU&RQWUROPRGXOH
\RX OOILQGWKDWLWH[SRVHVDQKZQGSURSHUW\DV)LJXUHLOOXVWUDWHV8QIRUWXQDWHO\LWLVQRW
YLVLEOHIURPRXWVLGHWKHFRQWURO
)LJXUH%URZVLQJWKH8VHU&RQWUROREMHFW
7RFLUFXPYHQWWKLVSUREOHP,SURYLGHGDSXEOLFIXQFWLRQWKDWH[SRVHVWKHK:QGRIWKHFRQWURO
([DPSOHVKRZVWKHFRGHXVHGWRH[SRVHWKHK:QGRID8VHU&RQWURO$VDQRWHWKLV
FRGHPXVWEHFRQWDLQHGZLWKLQWKH8VHU&RQWUROPRGXOHWRDFFHVVLWVKZQGSURSHUW\ ([DPSOH5HWULHYLQJWKHK:QGRID8VHU&RQWURO 3XEOLF)XQFWLRQ*HW+ZQG
*HW+ZQG K:QG
(QG)XQFWLRQ
&UHDWLQJWKH&RQWURO /HW VVHHKRZWKLVZRUNVE\FUHDWLQJDVLPSOH$FWLYH;FRQWURO6WDUWDQHZSURMHFWDQGVHOHFW
WKH$FWLYH;&RQWURORSWLRQLQWKH1HZ3URMHFWGLDORJ$IWHU9%FUHDWHVWKHSURMHFWLWZLOO
FRQWDLQDVLQJOH8VHU&RQWUROPRGXOHFDOOHG8VHU&RQWURO7KHILOHIRUWKH8VHU&RQWURO PRGXOHLVFDOOHG8VHU&RQWUROFWO
)LUVWVHOHFWDEDFNJURXQGFRORUWKDWZLOOVKRZXSDJDLQVWDIRUPEDFNJURXQG,QWKLVFDVH,
XVHGWKH3URSHUWLHVZLQGRZWRVHWWKH%DFN&RORUSURSHUW\WR*UHHQ1H[WSODFHWKHFRGH
VKRZQLQ([DPSOHLQWR8VHU&RQWURO7KLVDOORZVWKHDSSOLFDWLRQWKDWLVVXEFODVVLQJ
WKLVFRQWUROWRDFFHVVLWVK:QG1H[WZHZLOOEHJLQWRFUHDWHWKHDSSOLFDWLRQWKDWVXEFODVVHV
WKLVFRQWURO
&UHDWLQJWKH3URMHFWWR6XEFODVVWKH&RQWURO
7RVXEFODVVWKH$FWLYH;FRQWUROZHFUHDWHGZHQHHGDFRQWDLQHUWRKRVWWKHFRQWURO)LUVW
DGGD6WDQGDUG(;(SURMHFWWRWKH$FWLYH;FRQWUROSURMHFWZHFUHDWHGSUHYLRXVO\7KHQHZ
SURMHFWZLOOEHFUHDWHGZLWKDIRUPPRGXOHFDOOHG)RUP1H[WDGGDEDVPRGXOHWRWKHQHZ
SURMHFW7KLVEDVPRGXOHZLOOFRQWDLQWKHVXEFODVVSURFHGXUHIRUWKHFRQWURO
%HIRUHWKH$FWLYH;FRQWUROWKDWZHFUHDWHGFDQEHKRVWHGLQWKHIRUPLQWKHVHFRQGSURMHFWLW
PXVWEHFRPSLOHGLQWRDQRF[7KHFRQWUROZLOOQRZDSSHDULQWKH7RROER[WRROZLQGRZ3ODFH
DQLQVWDQFHRIWKHFRQWUROLQWKH)RUPPRGXOH$OVRDGGDEXWWRQ&RPPDQG DQGDWH[W
ER[7H[W WRWKHIRUP)LJXUHVKRZVWKHILQDOIRUP
7DEOHSUHVHQWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV 7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
&DSWLRQ
6XEFODVVD9%&UHDWHG$FWLYH;&WUO
)RUP
7RS
)RUP
/HIW
)RUP
+HLJKW
)RUP
:LGWK
8VHU&RQWURO
1DPH
8VHU&RQWURO
8VHU&RQWURO
7RS
8VHU&RQWURO
/HIW
8VHU&RQWURO
+HLJKW
8VHU&RQWURO
:LGWK
&RPPDQG%XWWRQ
1DPH
&RPPDQG
&RPPDQG%XWWRQ
&DSWLRQ
6XEFODVV
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
7H[W%R[
1DPH
7H[W
7H[W%R[
0XOWL/LQH
7UXH
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
1H[WDGGWKHFRGHVKRZQLQ([DPSOHWRWKH&OLFNHYHQWRIWKH&RPPDQGEXWWRQ
FRQWUROFRQWDLQHGRQWKH)RUPPRGXOH7KLVFRGHXVHVWKH*HW+ZQGSXEOLFPHWKRGRIWKH
8VHU&RQWUROWRUHWULHYHLWVK:QG7KLVYDOXHLVXVHGLQWKH6HW:LQGRZ/RQJ3WUIXQFWLRQWR
VXEFODVVWKH$FWLYH;FRQWURO
)LJXUH7KH)RUPIRUPZKLFKKRVWVWKH$FWLYH;FRQWUROWKDWZHFUHDWHG
([DPSOH7KH&RPPDQGB&OLFN(YHQW3URFHGXUH 3ULYDWH6XE&RPPDQGB&OLFN
)RUP7H[W7H[W
J&WUO:QG3URF 6HW:LQGRZ/RQJ3WU8VHU&RQWURO*HW+ZQG*:/3B:1'352&B
$GGUHVV2I&WUO3URF
(QG6XE
$GGWKHFRGHVKRZQLQ([DPSOHWRWKH)RUPB8QORDGVXEURXWLQHWRUHPRYHWKH
VXEFODVVSURFHGXUHIURPWKH$FWLYH;FRQWURO7KLVLVWKHRQO\FRGHWKDW\RXQHHGWRDGGWRWKH
)RUPPRGXOH
([DPSOH7KH)RUPB8QORDG(YHQW3URFHGXUH 3ULYDWH6XE)RUPB8QORDG&DQFHO$V,QWHJHU
'LP5HW9DO$V/RQJ
5HW9DO 6HW:LQGRZ/RQJ3WU8VHU&RQWURO*HW+ZQG*:/3B:1'352&J&WUO:QG3URF
(QG6XE
1H[WZH OODGGWKHFRGHVKRZQLQ([DPSOHWRWKH0RGXOHEDVPRGXOH7KLVEDV
PRGXOHFRQWDLQVWKHDSSOLFDWLRQSURJUDPPLQJLQWHUIDFH$3, GHFODUDWLRQVYDULDEOHVDQG
FRQVWDQWVQHHGHGWRLPSOHPHQWVXEFODVVLQJLWDOVRFRQWDLQVWKHVXEFODVVSURFHGXUH$JOREDO
YDULDEOHJ&WUO:QG3URFLVGHILQHGWKDWFRQWDLQVDSRLQWHUWRWKHRULJLQDO$FWLYH;FRQWURO V ZLQGRZSURFHGXUH
([DPSOH&RGHIRUWKH0RGXOHEDV0RGXOH 3XEOLF'HFODUH)XQFWLRQ6HW:LQGRZ/RQJ3WU/LEXVHU$OLDV6HW:LQGRZ/RQJ$B
/RQJ $V/RQJ
%\9DOK:QG$V/RQJ%\9DOQ,QGH[$V/RQJ%\9DOGZ1HZ/RQJ$V
3XEOLF'HFODUH)XQFWLRQ&DOO:LQGRZ3URF/LEXVHU$OLDV&DOO:LQGRZ3URF$B
%\9DOOS3UHY:QG)XQF$V/RQJ%\9DOK:QG$V/RQJ%\9DO0VJ$V
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
/RQJB
3XEOLF&RQVW*:/3B:1'352&
3XEOLF&RQVW*:/3B86(5'$7$
3XEOLF&RQVW:0B0286($&7,9$7( +
3XEOLF&RQVW:0B/%8772183 +
3XEOLF&RQVW:0B/%87721'2:1 +
3XEOLF&RQVW:0B/%87721'%/&/. +
3XEOLF&RQVW:0B5%87721'%/&/. + 3XEOLF&RQVW:0B5%87721'2:1 +
3XEOLF&RQVW:0B5%8772183 +
3XEOLFJ&WUO:QG3URF$V/RQJ
3XEOLF)XQFWLRQ&WUO3URF%\9DOK:QG$V/RQJ%\9DOX0VJ$V/RQJB
/RQJ
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V
6HOHFW&DVHX0VJ
&DVH:0B/%8772183
)RUP7H[W7H[W )RUP7H[W7H[W :0B/%8772183 YE1HZ/LQH &DVH:0B/%87721'2:1
)RUP7H[W7H[W )RUP7H[W7H[W :0B/%87721'2:1 YE1HZ/LQH &DVH:0B/%87721'%/&/.
)RUP7H[W7H[W )RUP7H[W7H[W :0B/%87721'%/&/. YE1HZ/LQH
&DVH:0B5%8772183
)RUP7H[W7H[W )RUP7H[W7H[W :0B5%8772183 YE1HZ/LQH &DVH:0B5%87721'2:1
)RUP7H[W7H[W )RUP7H[W7H[W :0B5%87721'2:1 YE1HZ/LQH &DVH:0B5%87721'%/&/.
)RUP7H[W7H[W )RUP7H[W7H[W :0B5%87721'%/&/. YE1HZ/LQH
(QG6HOHFW
&WUO3URF &DOO:LQGRZ3URFJ&WUO:QG3URFK:QGX0VJZ3DUDP%\9DOO3DUDP
(QG)XQFWLRQ
7KH&WUO3URFVXEFODVVSURFHGXUHFRQWDLQVFRGHWKDWZLOOZULWHRXWWH[WWRWKH7H[WWH[WER[
ZKHQHYHUWKHULJKWRUOHIWPRXVHEXWWRQLVVLQJOHFOLFNHGRUGRXEOHFOLFNHGZKLOHRYHUWKH
VXEFODVVHGFRQWURO
7RXVHWKLVDSSOLFDWLRQFOLFNWKH6XEFODVVEXWWRQWRDOORZWKHIRUPWRVXEFODVVWKH9%$FWLYH;
FRQWURO$IWHUWKHFRQWUROLVVXEFODVVHG\RXFDQULJKWRUOHIWFOLFNWKHFRQWUROZLWKWKHPRXVH
DQGWKH7H[WWH[WER[ZLOOGLVSOD\WKHPRXVHEXWWRQVWKDWZHUHFOLFNHG'RXEOHFOLFNHYHQWV
DOVRDUHWUDFNHGE\WKHVXEFODVVSURFHGXUH1RWLFHWKDWZKHQ\RXGRXEOHFOLFNHLWKHUWKHULJKW
RUOHIWPRXVHEXWWRQV\RXVHHWKHIROORZLQJSDWWHUQ
:0B/%87721'2:1 :0B/%8772183
:0B/%87721'%/&/.
:0B/%8772183
7KHUHDVRQIRUWKLVSDWWHUQLVGHWDLOHGLQ&KDSWHURQWKH:+B0286(PRXVHKRRN 7KLVLVKRZ\RXVXEFODVVDQ$FWLYH;FRQWUROFUHDWHGLQ9%7KHRQO\WKLQJ\RXPXVWGR EH\RQGQRUPDOVXEFODVVLQJLVWRJHWWKHK:QGRIWKHFRQWUROHLWKHUE\XVLQJWKH
)LQG:LQGRZ([IXQFWLRQRUE\DGGLQJDSXEOLFPHWKRGWRWKH8VHU&RQWUROWKDWH[SRVHVWKH
K:QGRIWKHFRQWURO
6XEFODVVLQJD8VHU&RQWUROIURP:LWKLQD9%&UHDWHG$FWLYH; &RQWURO
7KH8VHU&RQWUROLVWKHEDVHRQZKLFK\RXFUHDWH\RXUFRQWURO
8VHU&RQWUROZKLOHFUHDWLQJ\RXURZQ$FWLYH;FRQWURO)RUH[DPSOH\RXPLJKWQHHGWRZDWFK
IRUVSHFLILFPRXVHRUNH\ERDUGHYHQWVWKDWDUHGLUHFWHGWR\RXUFRQWURO7RZDWFKIRUWKHVH DQGDQ\RWKHUPHVVDJHV\RXQHHGWRVXEFODVVWKH8VHU&RQWURO
6XEFODVVLQJD8VHU&RQWUROZKHQRQO\RQHFRQWUROLVRQWKHIRUPDWDQ\RQHWLPHLVHDV\,Q
IDFWLWLVQRWPXFKGLIIHUHQWIURPVXEFODVVLQJDQ\RWKHUZLQGRZ7KHSUREOHPRFFXUVZKHQ
PRUHWKDQRQHRIWKHVXEFODVVHGFRQWUROVH[LVWVRQDIRUPDWDQ\RQHWLPH
7RVHHZKDW,PHDQOHW VH[DPLQHDOLWWOHPRUHRIKRZVXEFODVVLQJZRUNVZLWKD9%$FWLYH;
FRQWURO7KHVXEFODVVSURFHGXUHPXVWH[LVWLQDEDVPRGXOHDQGRQHLQVWDQFHRIWKLVPRGXOH
H[LVWVIRUHYHU\FRQWUROWKDWLVLQVWDQWLDWHG+RZHYHURQHLQVWDQFHRID8VHU&RQWUROPRGXOHLV
FUHDWHGIRUHDFKLQVWDQFHRIWKHFRQWURO:KHQWKHFRQWUROLVVXEFODVVHGDPHVVDJHZLOOILUVW
EHVHQWWRWKHRQO\IXQFWLRQLQWKHEDVPRGXOHWKDWLVDFWLQJDVWKHVXEFODVVSURFHGXUHIRUDOO
LQVWDQFHVRIWKHFRQWURO7KLVSURFHGXUHPXVWWKHQNQRZZKLFKLQVWDQFHRIWKH8VHU&RQWURO
PRGXOHWRIRUZDUGWKHPHVVDJHWRVRWKDWLWFDQEHSURFHVVHG$IWHUWKHPHVVDJHLV
SURFHVVHGLWPXVWEHVHQWWRWKHRULJLQDOZLQGRZSURFHGXUHRIWKDWLQVWDQFHRIWKHFRQWURO,I
WKHPHVVDJHLVQRWIRUZDUGHGWRWKHFRUUHFWRULJLQDOZLQGRZSURFHGXUHDOOLQVWDQFHVRIWKH
FRQWUROPLJKWVHHPDVWKRXJKWKH\DUHQRWSURFHVVLQJDQ\PHVVDJHV
7REHDEOHWRGLUHFWWKHPHVVDJHWRWKHRULJLQDOZLQGRZSURFHGXUHRIWKHFRUUHFWFRQWUROZH
PXVWVWRUHDSRLQWHUWRHDFKFRQWURO7KLVSRLQWHULVXVHGWRSDVVWKHPHVVDJHRQWRDIXQFWLRQ
WKDWH[LVWVZLWKLQWKHFRUUHFWLQVWDQFHRIWKHFRQWURORUPRUHVSHFLILFDOO\ZLWKLQWKHFRUUHFW
LQVWDQFHRIWKH8VHU&RQWUROPRGXOH7KHEHVWSODFHWRVWRUHWKLVSRLQWHULVLQWKH8VHU'DWD
VHFWLRQRIHDFKFRQWURO7KHQDVHDFKFRQWUROLVVXEFODVVHGLWZLOOVWRUHDUHIHUHQFHWRLWVHOILQ
LWVRZQ8VHU'DWDVHFWLRQ(YHU\ZLQGRZKDVD8VHU'DWDVHFWLRQLQZKLFKWRVWRUHLQIRUPDWLRQ
SHUWLQHQWWRLWVHOI
IDVKLRQ
&DOO6HW:LQGRZ/RQJ3WUK:QG*:/3B86(5'$7$
S8VHU'DWD *HW:LQGRZ/RQJ3WUK:QG*:/3B86(5'$7$
VXEFODVVHG7KHOLQHRIFRGHWKDWGRHVWKLVLV
&DOO6HW:LQGRZ/RQJ3WUK:QG*:/3B86(5'$7$2EM3WU0H
(YHU\WLPHWKHVXEFODVVIXQFWLRQLQWKHEDVPRGXOHLVFDOOHGLWXVHVWKHK:QGYDOXHWKDWLV
SDVVHGLQWRLWWRUHWULHYHDSRLQWHUWRWKHFRQWUROWKURXJKWKH*HW:LQGRZ/RQJ3WUIXQFWLRQ7KH
OLQHRIFRGHWKDWGRHVWKLVLV
S8VHU'DWD *HW:LQGRZ/RQJ3WUK:QG*:/3B86(5'$7$
S8VHU'DWDZLOOUHFHLYHWKHYDOXHFRQWDLQHGLQWKH8VHU'DWDVHFWLRQRIWKHFRQWURO
FRUUHVSRQGLQJWRWKHK:QGYDOXHSDVVHGLQWRLW7KLVYDOXHLVWKHQFDVWWRD8VHU&RQWURO
REMHFWW\SHVRWKDWDIXQFWLRQRQLWFDQEHFDOOHGWRKDQGOHWKHPHVVDJHVHQWWRLW
&RS\0HPRU\WRFRS\WKHYDOXHRIWKHS8VHU'DWDYDULDEOHZKLFKE\WKHZD\SRLQWVWRWKH
YWDEOHRIWKHFRQWUROLQWRDYDULDEOHRIW\SH8VHU&RQWURO7KHFRGHWRGRWKLVLV
&RS\0HPRU\FWO5HI7R&WUOS8VHU'DWD
1RZWKHYDULDEOHFWO5HI7R&WUOSRLQWVWRWKHFRUUHFWLQVWDQFHRIWKHFRQWUROWRZKLFKZHQHHGWR
SDVVWKHLQWHUFHSWHGPHVVDJH8VLQJWKLVYDULDEOHWKH&WUO3URFIXQFWLRQFDQEHFDOOHGRQWKDW
LQVWDQFHRIWKHFRQWURO7KLVIXQFWLRQSURFHVVHVWKHPHVVDJHDQGSDVVHVLWRQWRWKHRULJLQDO
ZLQGRZSURFHGXUHRIWKDWFRQWURO
0DLQ&WUO3URF FWO5HI7R&WUO&WUO3URFK:QG0VJZ3DUDPO3DUDP
:KHQWKLVIXQFWLRQUHWXUQVWKHFWO5HI7R&WUOYDULDEOHPXVWEHFOHDQHGXSDVIROORZV
&RS\0HPRU\FWO5HI7R&WUO
6HWFWO5HI7R&WUO 1RWKLQJ
)RUDGLDJUDPRIKRZWKLVZRUNVVHH)LJXUH )LJXUH6XEFODVVLQJPRUHWKDQRQH8VHU&RQWURO
FRQWURO7KLVLVDQXQGRFXPHQWHGIXQFWLRQLQ9%WKDWWDNHVDQREMHFWDVLWVRQO\SDUDPHWHU
DQGUHWXUQVDSRLQWHUWRWKDWREMHFW,QWHUHVWLQJO\WKLVIXQFWLRQZLOOQRWLQFUHPHQWWKHUHIHUHQFH
FRXQWRIWKHREMHFWRUFRQWURO7KLVZLOOEHXVHIXOLQWKHODVWVHFWLRQRIWKLVFKDSWHUZKHUHZH OO
EHXVLQJPRUHWKDQRQHFRQWUROWRVXEFODVVWKHVDPHIRUP
&UHDWLQJWKH&RQWURO 7KH$FWLYH;FRQWUROWKDWZHZLOOFUHDWHFRQVLVWVRIRQO\D8VHU&RQWURODQGQRRWKHUFRQVWLWXHQW
FRQWUROV7KHVXEFODVVSURFHGXUHZDWFKHVIRUPRXVHFOLFNVDQGFKDQJHVWKHEDFNJURXQG
FRORURIWKHFRQWUROWRDVSHFLILFFRORUGHSHQGLQJRQWKHW\SHRIPRXVHPHVVDJHLQWHUFHSWHG 7KH8VHU&RQWUROPRGXOH 7RFUHDWHWKH$FWLYH;FRQWUROFUHDWHDQ$FWLYH;&RQWUROSURMHFWLQ9%WKHQRSHQWKH
8VHU&RQWURO VFRGHPRGXOHVRWKDW\RXFDQDGGFRGHWRLW
)LUVWGHFODUHDSULYDWHYDULDEOHPB2ULJ&WUO3URFWRKROGWKHDGGUHVVRIWKHRULJLQDOZLQGRZ
SURFHGXUHIRUWKHFRQWUROLQVWDQFH
3ULYDWHPB2ULJ&WUO3URF$V/RQJ
$OVRGHFODUHDSULYDWHYDULDEOHPBKZQG&WUOWRFRQWDLQWKHKDQGOHWRWKHFRQWUROLQVWDQFH
3ULYDWHPBKZQG&WUO$V/RQJ
7KH8VHU&RQWUROB,QLWLDOL]HHYHQWRFFXUVZKHQWKHFRQWUROLVILUVWFUHDWHGEXWEHIRUHLWLVVLWHG
RQWKHFRQWDLQHU,WLVXVHIXOWRQRWHWKDWWKLVHYHQWDOVRLVILUHGDWGHVLJQWLPH7KHUHIRUHZH
FDQXVHWKLVHYHQWWRFDOOWKHIXQFWLRQWRVXEFODVVWKHFRQWUROERWKDWUXQWLPHDQGZKLOHLWLVLQ
WKH,'(DVVKRZQLQ([DPSOH
([DPSOH7KH8VHU&RQWUROB,QLWLDOL]H(YHQW3URFHGXUH
3ULYDWH6XE8VHU&RQWUROB,QLWLDOL]H 6XE&ODVV (QG6XE
7KH8VHU&RQWUROB7HUPLQDWHHYHQWRFFXUVDIWHUWKHFRQWUROLVXQVLWHGIURPLWVFRQWDLQHUEXW
LPPHGLDWHO\EHIRUHWKHFRQWUROLVGHVWUR\HG7KLVHYHQWDOVRLVILUHGGXULQJGHVLJQWLPHZKHQ
\RXFORVHWKHFKLOGZLQGRZWKDWFRQWDLQVWKHIRUPWKLVFRQWUROLVVLWHGRQLQWKH,'(%HFDXVH
\RXPXVWUHPRYHDVXEFODVVSURFHGXUHEHIRUHWKHVXEFODVVHGZLQGRZLVGHVWUR\HGLWLVD
JRRGLGHDWRSODFHWKHFRGHWRUHPRYHWKHVXEFODVVSURFHGXUHLQWKH7HUPLQDWHHYHQW,IWKH
FRGHWRUHPRYHWKHVXEFODVVSURFHGXUHLVQRWH[HFXWHGPHPRU\OHDNVRUD*HQHUDO
3URWHFWLRQ)DXOW*3) PLJKWUHVXOWHYHU\WLPHWKHFRQWUROLVGHVWUR\HGLQWKH,'(RULQD
FRPSLOHGDSSOLFDWLRQ7KHUHIRUHZH OOXVHWKLVHYHQWWRUHPRYHWKHVXEFODVVIURPWKHFRQWURO
DV([DPSOHVKRZV
([DPSOH7KH8VHU&RQWUROB7HUPLQDWH(YHQW3URFHGXUH 3ULYDWH6XE8VHU&RQWUROB7HUPLQDWH
5HPRYH6XE&ODVV (QG6XE
7KH6XE&ODVVIXQFWLRQLQWKH8VHU&RQWUROPRGXOHSHUIRUPVWKHVXEFODVVLQJLWLVVKRZQLQ
([DPSOH,WFKHFNVWKHPB2ULJ&WUO3URFYDULDEOHWRGHWHUPLQHLIWKHFRQWUROZDVDOUHDG\
VXEFODVVHG,ILWZDVWKHFRQWUROFDQQRWEHVXEFODVVHGDVHFRQGWLPH1H[WLWXVHV
6HW:LQGRZ/RQJ3WUWRVXEFODVVWKHFRQWURO0DLQ&WUO3URFLVWKHVXEFODVVSURFHGXUHDQGLWLV
FRQWDLQHGLQWKH0RGXOHEDVPRGXOHLQWKHFRQWUROSURMHFWWKLVPRGXOHLVGLVFXVVHGLQWKH
QH[WVHFWLRQ 7KHILQDOWKLQJWKLVIXQFWLRQGRHVLVFULWLFDOWRWKHFRUUHFWRSHUDWLRQRIWKH
VXEFODVVHGFRQWURO,WXVHV6HW:LQGRZ/RQJ3WUWRVWRUHDSRLQWHUWRWKHLQVWDQFHRIWKLVFRQWURO
LQLWVRZQ8VHU'DWDVHFWLRQ7KLVDOORZVDSRLQWHUWRWKLVFRQWUROWREHUHWULHYHGZKHQ\RXRQO\
KDYHWKHK:QGWRWKHFRQWUROLWVHOI
([DPSOH7KH6XE&ODVV)XQFWLRQWR3HUIRUPWKH6XEFODVVLQJ 3ULYDWH6XE6XE&ODVV
,IPB2ULJ&WUO3URF 7KHQ
PB2ULJ&WUO3URF 6HW:LQGRZ/RQJ3WUK:QG*:/3B:1'352&$GGUHVV2I
0DLQ&WUO3URF
PBKZQG&WUO K:QG
&DOO6HW:LQGRZ/RQJ3WUK:QG*:/3B86(5'$7$2EM3WU0H (QG,I
(QG6XE
7KH5HPRYH6XE&ODVVIXQFWLRQVKRZQLQ([DPSOHXVHV6HW:LQGRZ/RQJ3WUWRUHPRYH
WKHVXEFODVVSURFHGXUHIURPWKHFRQWUROLQVWDQFH,WVHWVPB2ULJ&WUO3URFEDFNWR]HURWR LQGLFDWHWKDWWKHVXEFODVVSURFHGXUHZDVUHPRYHGIURPWKHFRQWURO
([DPSOH7KH5HPRYH6XE&ODVV)XQFWLRQWR5HPRYHWKH6XEFODVVLQJ 3ULYDWH6XE5HPRYH6XE&ODVV
,IPB2ULJ&WUO3URF!7KHQ
(QG6XE
(QG,I
6HW:LQGRZ/RQJ3WUPBKZQG&WUO*:/3B:1'352&PB2ULJ&WUO3URF PB2ULJ&WUO3URF
7KH&WUO3URFIXQFWLRQVKRZQLQ([DPSOHDFWVDVWKHVXEFODVVSURFHGXUH7KLV
SURFHGXUHFKDQJHVWKHEDFNJURXQGFRORURIWKHFRQWURODQ\WLPHDULJKWRUOHIWPRXVHEXWWRQ
PHVVDJHLVLQWHUFHSWHG1RWLFHWKDWWKHIXQFWLRQLVGHFODUHGDVD)ULHQGIXQFWLRQ7KLVDOORZV
IXQFWLRQVZLWKLQWKHVFRSHRIWKHSURMHFWWRDFFHVVWKLVIXQFWLRQEXWGHQLHVDFFHVVWR
IXQFWLRQVRXWVLGHRIWKLVSURMHFW7KLVSUHYHQWVDQ\IXQFWLRQZLWKLQWKHDSSOLFDWLRQWKDWLV
KRVWLQJWKLVFRQWUROIURPFDOOLQJWKLVIXQFWLRQ
([DPSOH&WUO3URFWKH6XEFODVV3URFHGXUH )ULHQG)XQFWLRQ&WUO3URF%\9DOK:QG$V/RQJ%\9DOX0VJ$V/RQJB
6HOHFW&DVHX0VJ
/RQJ
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V
&DVH:0B/%87721'%/&/.
8VHU&RQWURO%DFN&RORU YE%OXH
&DVH:0B/%87721'2:1
8VHU&RQWURO%DFN&RORU YE5HG
&DVH:0B/%8772183
8VHU&RQWURO%DFN&RORU YE&\DQ
&DVH:0B5%87721'%/&/.
8VHU&RQWURO%DFN&RORU YE*UHHQ
&DVH:0B5%87721'2:1
8VHU&RQWURO%DFN&RORU YE:KLWH
&DVH:0B5%8772183
8VHU&RQWURO%DFN&RORU YE%ODFN
(QG6HOHFW
&WUO3URF &DOO:LQGRZ3URFPB2ULJ&WUO3URFK:QGX0VJZ3DUDP%\9DOO3DUDP (QG)XQFWLRQ
7KH0RGXOHEDVPRGXOH 6LQFHRXUVXEFODVVSURFHGXUHPXVWUHVLGHRXWVLGHRIWKH8VHU&RQWUROPRGXOHLWVHOIDGGD
FRGHPRGXOHWRWKHSURMHFW%\GHIDXOW9%ZLOOQDPHLW0RGXOH
'HFODUHDFRQVWDQWLQWKH0RGXOHEDVPRGXOHWRDOORZWKH6HW:LQGRZ/RQJ3WUIXQFWLRQWR
SODFHGDWDLQWRWKHFRQWURO V8VHU'DWDVHFWLRQ
3XEOLF&RQVW*:/3B86(5'$7$
'HILQHWKHFWUO5HI7R&WUOYDULDEOHDVIROORZV
'LPFWO5HI7R&WUO$V8VHU&RQWURO
7KHFWO5HI7R&WUOYDULDEOHFRQWDLQVDUHIHUHQFHWRWKH8VHU&RQWUROREMHFW
UHIHUHQFHWRFDOODIXQFWLRQLQDSDUWLFXODULQVWDQFHRIDFRQWURO
8VHU&RQWUROW\SH\RXFDQQRWXVHDW\SHVXFKDV2EMHFWRU&RQWURO
1H[WDGGWKHS8VHU'DWDYDULDEOHZKLFKKROGVDQDGGUHVVWRWKH8VHU'DWDVHFWLRQRIWKH
FRQWURO
'LPS8VHU'DWD$V/RQJ
7KH0DLQ&WUO3URFIXQFWLRQVKRZQLQ([DPSOHDFWVDVWKHFHQWUDOVXEFODVVSURFHGXUH
WKDWLQLWLDOO\LVFDOOHG7KLVIXQFWLRQXVHVWKHK:QGYDOXHSDVVHGWRLWWRJHWWKHGDWDVWRUHGLQ
WKH8VHU'DWDVHFWLRQRIWKHLQVWDQFHRIWKHFRQWUROWKDWWKHK:QGYDOXHUHIHUVWR,WXVHVWKH
SRLQWHUVWRUHGLQWKH8VHU'DWDVHFWLRQRIWKLVZLQGRZWRGHWHUPLQHZKLFKLQVWDQFHRIWKH
&WUO3URFIXQFWLRQLVFDOOHGLQWKH8VHU&RQWUROPRGXOH ([DPSOH7KH0DLQ&WUO3URF)XQFWLRQ
3XEOLF)XQFWLRQ0DLQ&WUO3URF%\9DOK:QG$V/RQJ%\9DO0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
S8VHU'DWD *HW:LQGRZ/RQJK:QG*:/3B86(5'$7$
&RS\0HPRU\FWO5HI7R&WUOS8VHU'DWD
0DLQ&WUO3URF FWO5HI7R&WUO&WUO3URFK:QG0VJZ3DUDPO3DUDP
&RS\0HPRU\FWO5HI7R&WUO
6HWFWO5HI7R&WUO 1RWKLQJ
(QG)XQFWLRQ
$Q\WLPHDQ\LQVWDQFHRIDVXEFODVVHGFRQWUROUHFHLYHVDPHVVDJHWKHPHVVDJHLVVHQWWR
WKLVZLQGRZSURFHGXUH7KLVZLQGRZSURFHGXUHFDOOV*HW:LQGRZ/RQJWRREWDLQWKH8VHU'DWD
LQIRUPDWLRQIRUWKHFRQWUROWKDWWKHPHVVDJHLVEHLQJVHQWWR5HPHPEHUWKDWZKHQWKHFRQWURO
LVVXEFODVVHGDUHIHUHQFHWRLVVWRUHGLQWKH8VHU'DWDVHFWLRQRIWKHFRQWURO7KHVXEFODVV
SURFHGXUHLVVHQWWKHK:QGRIWKHFRQWUROWKDWWKHPHVVDJHLVEHLQJVHQWWR:HFDQXVHWKLV
K:QGYDOXHLQWKH*HW:LQGRZ/RQJIXQFWLRQWRREWDLQDUHIHUHQFHWRWKHFRQWURO7RDFWXDOO\
XVHWKLVUHIHUHQFHZHPXVWFRS\LWWRDYDULDEOHRIWKHVDPHW\SHDVWKHUHIHUHQFH8VLQJ
&RS\0HPRU\ZHFDQFRS\WRWKHFWO5HI7R&WUOYDULDEOHWKHUHIHUHQFHFRQWDLQHGLQWKH
S8VHU'DWDYDULDEOHZKLFKLVRIW\SH8VHU&RQWURO1RZWKHFWO5HI7R&WUOYDULDEOHSRLQWVWRWKH
FRQWUROWKDWWKHPHVVDJHLVEHLQJVHQWWR7KLVYDULDEOHLVXVHGWRFDOOWKH&WUO3URFIXQFWLRQRQ
WKHLQVWDQFHRIWKHFRQWUROWKDWLVEHLQJSDVVHGWKHPHVVDJH7KHIXQFWLRQRQWKHFRQWURO
LQVWDQFHGRHVLWVZRUNDQGUHWXUQV,WXVHV&RS\0HPRU\WRUHPRYHWKHUHIHUHQFHFRQWDLQHGLQ
WKHFWO5HI7R&WUOYDULDEOH7KHQLWVHWVWKHFWO5HI7R&WUOYDULDEOHWR1RWKLQJ
+RVWLQJWKH&RQWURO 7RKRVWWKHFRQWURO\RXVLPSO\FRPSLOHWKH$FWLYH;FRQWUROSURMHFWLQWRDQ$FWLYH;FRQWURO
2&; DQGWKHQFUHDWHDVHSDUDWHVWDQGDUG(;(SURMHFWWRKRVWWKHFRQWURO7KLVSURMHFWZLOO
EHFUHDWHGZLWKRQHIRUPLQLWLDOO\3ODFHWKH2&;RQWKLVIRUP1RWHWKDWLIWKHVWDQGDUG(;(
SURMHFWLVQRWLQWKHVDPHSURMHFWJURXS\RXZLOOKDYHWRVHWDUHIHUHQFHWRWKHQHZFRQWURO
XVLQJWKH&RPSRQHQWVGLDORJER[
3ODFHDWOHDVWWZRFRQWUROVRQWKHIRUP
SURMHFWDQGWKHQUXQLW7KHIRUPLQWKHH[DPSOHZLOOORRNOLNHWKHRQHLQ)LJXUH7KH FRQWUROVDUHDXWRPDWLFDOO\VXEFODVVHGZKHQWKHDSSOLFDWLRQLVVWDUWHG7KHVXEFODVVLQJLV
DXWRPDWLFDOO\UHPRYHGZKHQWKHDSSOLFDWLRQHQGV&OLFNLQJHDFKFRQWUROFKDQJHVWKH
EDFNJURXQGFRORURIHDFKFRQWUROLQGHSHQGHQWO\RIWKHRWKHU
)LJXUH6FUHHQVKRWRIWKHDSSOLFDWLRQWKDWLVKRVWLQJWZRRIWKHVXEFODVVHGFRQWUROV
:KHQ\RXFOLFNWKHOHIWPRXVHEXWWRQRYHUDFRQWUROWKHEDFNJURXQGFRORUZLOOFKDQJH
DFFRUGLQJWRWKHPHVVDJHUHFHLYHG7KHFRORUZLOOFKDQJHWRUHGZKHQ\RXGHSUHVVWKHOHIW
PRXVHEXWWRQDQGWRF\DQZKHQ\RXUHOHDVHWKHEXWWRQ,I\RXGHSUHVVWKHOHIWPRXVHEXWWRQ
DQGKROGLWGRZQ\RXZLOOVHHWKHFRQWUROFKDQJHWRUHG:KHQ\RXGRXEOHFOLFNWKHOHIWPRXVH
EXWWRQWKHVXEFODVVSURFHGXUHZLOOUHFHLYHPRXVHPHVVDJHVLQWKHIROORZLQJRUGHU
:0B/%87721'2:1 :0B/%8772183
:0B/%87721'%/&/.
:0B/%8772183
7KHFRQWUROFKDQJHVFRORUIRUHDFKPHVVDJH,I\RXGRXEOHFOLFNWKHOHIWPRXVHEXWWRQDQG
KROGLWGRZQRQWKHVHFRQGFOLFN\RXZLOOQRWLFHWKDWWKHFRORUFKDQJHVWREOXH:KHQ\RX
UHOHDVHLWWKHFRORUFKDQJHVEDFNWRF\DQ
&UHDWLQJDQ$FWLYH;&RQWURO7KDW6XEFODVVHV2WKHU:LQGRZV :HQHHGWRH[DPLQHRQHODVWVLWXDWLRQFUHDWLQJDQ$FWLYH;FRQWUROWKDWVXEFODVVHVWKHIRUP
WKDWLWLVVLWHGRQ7KLVJLYHVXVDZD\WRHQFDSVXODWHDVXEFODVVLQJURXWLQHWKDWZHFDQ
OLWHUDOO\GURSRQWRDIRUPDQGKDYHLWZRUNZLWKRXWUHTXLULQJWKDWWKHXVHURIWKHFRQWUROWRGR
DQ\WKLQJ7KHXVHUGRHVQRWHYHQKDYHWRVHWDQ\SURSHUWLHVRQWKHFRQWURO7KLVLVDJRRG
ZD\WRGLVWULEXWHFRPPRQVXEFODVVLQJIXQFWLRQDOLW\EHWZHHQSURMHFWGHYHORSHUVZLWKRXWHYHU\
GHYHORSHUKDYLQJWRNQRZWKHLQWULFDFLHVRIVXEFODVVLQJDIRUP)RULQVWDQFHLIHYHU\IRUPLQ
DQDSSOLFDWLRQQHHGHGWRNQRZZKHWKHUDODSWRS VEDWWHU\ZDVJHWWLQJORZRQSRZHU\RX
FRXOGFUHDWHDFRQWUROWKDWVXEFODVVHVWKHIRUPRQWRZKLFKLWLVGURSSHGDQGWKHQZDWFKHVIRU
WKH:0B32:(5%52$'&$67PHVVDJH
8VLQJDFRQWUROWRVXEFODVVWKHIRUPRQWRZKLFKLWLVGURSSHGKDVVHYHUDOSUREOHPV)LUVW
ZKHQRQHFRQWUROLVGURSSHGRQWRWKHIRUPLWLPPHGLDWHO\VXEFODVVHVWKHIRUPDQGVWRUHVLWV
RULJLQDOZLQGRZSURFHGXUH7KLVLVILQHEXWZKHQDGHYHORSHUGURSVDQRWKHUFRQWURORQWRWKH
VDPHIRUPWKHQHZFRQWUROVXEFODVVHVWKHIRUPDVHFRQGWLPHDQGVWRUHVZKDWLWWKLQNVLVWKH
IRUP VRULJLQDOZLQGRZSURFHGXUH,QVWHDGLWLVVWRULQJWKHDGGUHVVWRWKHVXEFODVVSURFHGXUH
RIWKHILUVWFRQWURO$FWXDOO\WKHDSSOLFDWLRQZLOOVHHPWRZRUNXQWLO\RXFORVHLW:KHQ\RX
FORVHWKHDSSOLFDWLRQWKHRSHUDWLQJV\VWHPGRHVQRWGHVWUR\WKHFRQWUROVLQWKHUHYHUVHRUGHU
LQZKLFKWKH\ZHUHFUHDWHGLQVWHDGLWGHVWUR\VWKHPLQQRJXDUDQWHHGRUGHU7KHUHIRUHWKH
IRUP VRULJLQDOZLQGRZSURFHGXUHPLJKWRUPLJKWQRWEHUHVWRUHG0RVWOLNHO\LWZLOOQRW7KLV ZLOOFDXVHWKHDSSOLFDWLRQWRFUDVK
&UHDWLQJWKH)LUVW9HUVLRQRIWKH&RQWURO /HW VVWDUWZLWKWKHFRGHWKDWLVFRQWDLQHGLQWKH0RGXOHEDVPRGXOHLWLVVKRZQLQ
([DPSOH
([DPSOH&RGHLQWKH0RGXOHEDV0RGXOH 3ULYDWH6XE&ODVVHG)RUPBK:QG$V/RQJ K:QGRIWKH9%)RUP
3ULYDWH&WUO,QVWDQFHB3WU$V/RQJ 3RLQWHUWRLQVWDQFHRI&WUO
3ULYDWH6XE&ODVVHG)RUPB2ULJ:QG3URF$V/RQJ 2ULJLQDO:QG3URFRI9%)RUP
3XEOLF)XQFWLRQ6XE&ODVVK)RUP$V/RQJS6XE&ODVV&WUO$V8VHU&RQWURO $V%RROHDQ
6XE&ODVV )DOVH
,I6XE&ODVVHG)RUPBK:QG 7KHQ
6XE&ODVV 7UXH
6XE&ODVVHG)RUPBK:QG K)RUP
&WUO,QVWDQFHB3WU 2EM3WUS6XE&ODVV&WUO
6XE&ODVVHG)RUPB2ULJ:QG3URF 6HW:LQGRZ/RQJ3WUK)RUP*:/B:1'352&B $GGUHVV2I9%)RUP:QG3URF (QG,I
(QG)XQFWLRQ
3XEOLF6XE8Q6XE&ODVV
&DOO6HW:LQGRZ/RQJ3WU6XE&ODVVHG)RUPBK:QG*:/B:1'352&B 6XE&ODVVHG)RUPB2ULJ:QG3URF (QG6XE
3ULYDWH)XQFWLRQ9%)RUP:QG3URF%\9DOK:QG$V/RQJ%\9DOZ0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
'LPR2EMHFW$V8VHU&RQWURO
&UHDWHWKHREMHFWDQGFDOOWKHIRUPSURFLQWKHREMHFW &DOO&RS\0HPRU\R2EMHFW&WUO,QVWDQFHB3WU
9%)RUP:QG3URF R2EMHFW+DQGOH0HVVDJH6XE&ODVVHG)RUPB2ULJ:QG3URFB
O3DUDP
K:QGZ0VJZ3DUDP
&DOO&RS\0HPRU\R2EMHFW
(QG)XQFWLRQ
7KHPRGXOHGHILQHVWKHIROORZLQJWKUHHSULYDWHPHPEHUYDULDEOHV 6XE&ODVVHG)RUPBK:QG
+ROGVWKHKDQGOHWRWKHZLQGRZWKDWLVEHLQJVXEFODVVHGE\WKHFRQWURO
&WUO,QVWDQFHB3WU
+ROGVDSRLQWHUWRWKHLQVWDQFHRIWKHFRQWURO7KHEDVPRGXOH VVXEFODVVSURFHGXUH
XVHVWKLVWRGHWHUPLQHZKLFKFRQWUROWRVHQGWKHPHVVDJHWR
6XE&ODVVHG)RUPB2ULJ:QG3URF
+ROGVWKHRULJLQDOZLQGRZSURFHGXUHRIWKHVXEFODVVHGIRUP
7KLVEDVPRGXOHFRQWDLQVWKUHHIXQFWLRQVRQHWKDWVXEFODVVHVWKHFRQWDLQHUIRUPRQHWKDW
UHPRYHVWKHVXEFODVVSURFHGXUHIURPWKHFRQWDLQHUIRUPDQGRQHWKDWFRQWDLQVWKHFHQWUDO
VXEFODVVSURFHGXUH
7KH6XE&ODVVIXQFWLRQDFWXDOO\GRHVWKHVXEFODVVLQJ7KLVIXQFWLRQWDNHVWKHIRUPKDQGOHWR
WKHVXEFODVVHGIRUPK)RUP DQGWKHSRLQWHUWRWKHFRQWUROWKDWLVWU\LQJWRSHUIRUPWKH
VXEFODVVLQJ,IWKH6XE&ODVVHG)RUPBK:QGYDULDEOHFRQWDLQV]HURWKHIRUPKDVQRW\HWEHHQ
VXEFODVVHG,QWKLVFDVHWKLVFRQWUROVXEFODVVHVWKHIRUPWKHUHE\SODFLQJWKHRULJLQDOZLQGRZ
SURFHGXUHLQWKH6XE&ODVVHG)RUPB2ULJ:QG3URFYDULDEOHDQGWKHSRLQWHUWRLWVHOILQWKH
&WUO,QVWDQFHB3WUYDULDEOH7KHVXEFODVVHGIRUPKZQGDOVRLVVWRUHGLQWKH
6XE&ODVVHG)RUPBK:QGYDULDEOH
7KH8Q6XE&ODVVIXQFWLRQUHPRYHVWKHVXEFODVVSURFHGXUHIURPWKHFRQWDLQHUIRUP
6HW:LQGRZ/RQJ3WULVFDOOHGZLWKWKHRULJLQDOZLQGRZSURFHGXUHWRWKHFRQWDLQHUIRUP
9%)RUP:QG3URFDFWVDVWKHVXEFODVVSURFHGXUH7KLVLVWKHIXQFWLRQWKDWLQWHUFHSWVWKH
PHVVDJHEHIRUHLWLVDFWXDOO\VHQWWRWKHZLQGRZ7KLVIXQFWLRQFUHDWHVDSRLQWHUWRWKHFRQWURO
WKDWVKRXOGUHFHLYHWKHPHVVDJHE\XVLQJ&RS\0HPRU\DQGWKHQFDOOVWKHIXQFWLRQRQWKDW
LQVWDQFHRIWKHFRQWUROWKDWFDQKDQGOHWKHPHVVDJH,QWKLVFDVHWKH+DQGOH0HVVDJH
IXQFWLRQVKRZQLQ([DPSOH ZLOOKDQGOHWKHPHVVDJHVHQWWRLW7KLVWHFKQLTXHLVWKH VDPHDVZDVXVHGSUHYLRXVO\WRDOORZHDFKFRQWUROLQVWDQFHWRUHFHLYHWKHLQWHUFHSWHG
PHVVDJH
([DPSOHVKRZVWKHFRGHIRUWKH8VHU&RQWUROFWOPRGXOHRIWKHFRQWURO
([DPSOH&RGHIRUWKH8VHU&RQWUROFWO0RGXOH 3ULYDWH&RQVW:0B/%87721'2:1 + 3ULYDWH&RQVW:0B/%8772183 +
3ULYDWH6XEFODVVLQJ&WUO$V%RROHDQ
3ULYDWH6XE8VHU&RQWUROB,QLWLDOL]H 6XEFODVVLQJ&WUO )DOVH (QG6XE
)ULHQG)XQFWLRQ+DQGOH0HVVDJH%\9DOSO2OG3URF$V/RQJ%\9DOK:QG$V/RQJB
%\9DOZ0VJ$V/RQJ%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
6HOHFW&DVHZ0VJ
&DVH:0B/%87721'2:1
8VHU&RQWURO%DFN&RORU YE%OXH
&DVH:0B/%8772183
8VHU&RQWURO%DFN&RORU YE:KLWH (QG6HOHFW
+DQGOH0HVVDJH &DOO:LQGRZ3URFSO2OG3URFK:QGZ0VJZ3DUDPO3DUDP
(QG)XQFWLRQ
3ULYDWH6XE8VHU&RQWUROB5HDG3URSHUWLHV3URS%DJ$V3URSHUW\%DJ 6XEFODVVLQJ&WUO 6XE&ODVV8VHU&RQWURO3DUHQWK:QG0H (QG6XE
3ULYDWH6XE8VHU&RQWUROB7HUPLQDWH
,I6XEFODVVLQJ&WUO7KHQ&DOO8Q6XE&ODVV
(QG6XE
7KLVPRGXOHKDVRQHSULYDWHPHPEHUYDULDEOH6XE&ODVVLQJ&WUO7KLVYDULDEOHDFWVDVDIODJ
WKDWGHWHUPLQHVZKHWKHUWKLVLQVWDQFHRIWKHFRQWUROLVWKHRQHWKDWDFWXDOO\VXEFODVVHGWKH
IRUPDQGWKHUHIRUHKROGVWKHRULJLQDOZLQGRZSURFHGXUH7KLVYDULDEOHLVVHWLQWKH
8VHU&RQWUROB5HDG3URSHUWLHVHYHQWZKLFKWULHVWRVXEFODVVWKHIRUP,IVXFFHVVIXOWKLV
PHPEHUYDULDEOHLVVHWWR758(RWKHUZLVHLWLVVHWWR)$/6(
7KH8VHU&RQWUROB,QLWLDOL]HHYHQWLVILUHGILUVWZKHQWKHFRQWUROLVVLWHG7KLVHYHQWVLPSO\ LQLWLDOL]HVWKH6XEFODVVLQJ&WUOPHPEHUYDULDEOH
7KH8VHU&RQWUROB5HDG3URSHUWLHVHYHQWLVILUHGDIWHUWKH8VHU&RQWUROB,QLWLDOL]HHYHQWILUHV
7KLVHYHQWFDOOVWKHPHWKRGLQWKHEDVPRGXOHWRVXEFODVVWKHFRQWDLQHUIRUP,WVHQGVWKH
6XE&ODVVIXQFWLRQWKHK:QGRIWKHSDUHQWRUFRQWDLQHUZLQGRZDQGDSRLQWHUWRLWVHOIWKH
0HSRLQWHU
7KH8VHU&RQWUROB7HUPLQDWHHYHQWLVILUHGEHIRUHWKHFRQWUROLVGHVWUR\HG7KLVIXQFWLRQ
UHPRYHVWKHVXEFODVVSURFHGXUHIURPWKHIRUPRQO\LIWKLVLQVWDQFHLVUHVSRQVLEOHIRULQVWDOOLQJ
WKHVXEFODVVSURFHGXUH$VDQRWHFRQWUROVDUHDOZD\VGHVWUR\HGEHIRUHWKHLUFRQWDLQLQJ
ZLQGRZWKLVPHDQVWKDWWKHIRUPZLOOQHYHUEHGHVWUR\HGEHIRUHWKHVXEFODVVSURFHGXUHLV UHPRYHG
7KH+DQGOH0HVVDJHIXQFWLRQKDQGOHVWKHPHVVDJHVVHQWWRWKHZLQGRZRQDSHUFRQWURO
EDVLV7KLVIXQFWLRQVLPSO\VHWVWKHEDFNJURXQGFRORURIWKHFRQWUROGHSHQGLQJRQZKHWKHUWKH
OHIWPRXVHEXWWRQLVSUHVVHGRUUHOHDVHG
7KLVFRGHFDQQRZEHFRPSLOHGLQWRDQ$FWLYH;FRQWURODQGSODFHGRQDIRUP7KHWHVWIRUP
VKRZQLQ)LJXUHKDVWKUHHRIWKHVHFRQWUROVGURSSHGRQWRLW1RWHWKDWWKHWHVWIRUPDQG LWVSURMHFWFRQWDLQQRFRGHWKH$FWLYH;FRQWUROGRHVDOOWKHZRUN
)LJXUH7KHWHVWIRUPIRUWKH$FWLYH;FRQWURO
5XQQLQJWKHDSSOLFDWLRQZHQRWLFHWKDWZKHQZHFOLFNWKHOHIWPRXVHEXWWRQRQWKHFOLHQWDUHD
RIWKHIRUPDVLQJOHFRQWUROFKDQJHVFRORUVDFFRUGLQJWRWKHPRXVHFOLFNV7KHFRQWUROWKDW
FKDQJHVFRORULVWKHFRQWUROWKDWLQLWLDOO\VXEFODVVHGWKHIRUP
&OLFNLQJWKHQRQFOLHQWDUHDRIWKHIRUPSURGXFHV:0B1&/%87721'2:1DQG
:0B1&/%8772183PHVVDJHVZKLFKZHGRQRWFDSWXUH&OLFNLQJDQ\RIWKH$FWLYH;
FRQWUROVZLOOQRWIRUFHWKHRQHFRQWUROWRFKDQJHEDFNJURXQGFRORUVHLWKHU7KLVLVEHFDXVHWKH
PRXVHFOLFNPHVVDJHLVQRWSDVVHGRQIURPWKHFRQWDLQHUWRWKHFRQWURO
,IZHSODFHGWKHVHFRQWUROVZLWKLQDQRWKHUFRQWUROVD\D3LFWXUH%R[FRQWUROZKHUHWKH
3LFWXUH%R[FRQWUROZDVDFKLOGWRWKHIRUPWKHDSSOLFDWLRQZRXOGVWLOOZRUNWKHVDPH7KDWLV
WKHRQHFRQWUROZRXOGVWLOOFKDQJHFRORUVRQO\ZKHQWKHFOLHQWDUHDRIWKHIRUPZDVFOLFNHGQRW
ZKHQWKHFOLHQWDUHDRIWKH3LFWXUH%R[ZDVFOLFNHG
&UHDWLQJWKH6HFRQG9HUVLRQRIWKH&RQWURO 7KHSUHYLRXVGHVLJQIRUWKHFRQWUROKDVRQHVOLJKWIODZRQO\RQHFRQWURORQWKHIRUPZLOO
LQWHUFHSWPHVVDJHVWKDWDUHVHQWWRWKHIRUP7KLVPHDQVWKDWHYHQWKRXJKWKHRWKHUFRQWUROV
H[LVWRQWKHIRUPWKH\GRQRWKLQJRIDQ\XVH,I\RXPHUHO\ZDQWWRSUHYHQWSUREOHPVZKHQD
GHYHORSHULQDGYHUWHQWO\DGGVPRUHWKDQRQHFRQWUROWRDIRUPWKLVGHVLJQPLJKWEHVXIILFLHQW
,ILQVWHDG\RXZDQWHYHU\VXEFODVVLQJFRQWUROWRUHFHLYHPHVVDJHVZHPXVWPDNHVRPH
FKDQJHVWRWKHFXUUHQWFRQWURO
,WLVSRVVLEOHWRDOORZWKHLQWHUFHSWHGPHVVDJHWREHSDVVHGLQWRDOOIRUPVVLPXOWDQHRXVO\
7KLVDOVRLQWURGXFHVVRPHSUREOHPVWKDWZHPXVWGHDOZLWK,ZLOOGLVFXVVWKHVHSUREOHPVDV,
GHVFULEHWKHUHTXLUHGFRGHFKDQJHVWRDOORZDOOFRQWUROVWRUHFHLYHWKHIRUP VPHVVDJHV
([DPSOHSUHVHQWVWKHPRGLILHGFRGHIRUWKH0RGXOHEDVPRGXOH ([DPSOH0RGLILHG&RGHIRUWKH0RGXOHEDV0RGXOH
3ULYDWH6XE&ODVVHG)RUPBK:QG$V/RQJ K:QGRIWKH9%)RUP
3ULYDWH&WUO,QVWDQFHB3WU $V/RQJ $UUD\RI3RLQWHUV
3ULYDWH6XE&ODVVHG)RUPB2ULJ:QG3URF$V/RQJ 2ULJLQDO:QG3URFRI9%)RUP
3ULYDWH1H[WB&WUO,QVWDQFH$V,QWHJHU
3XEOLF)XQFWLRQ6XE&ODVVK)RUP$V/RQJS6XE&ODVV&WUO$V8VHU&RQWURO $V%RROHDQ
'LP7HPS$V/RQJ 'LP,$V,QWHJHU
6XE&ODVV )DOVH
,I1H[WB&WUO,QVWDQFH!7KHQ
0VJ%R[1RPRUHFRQWUROVFDQVXEFODVVWKHIRUP
(OVH
,I6XE&ODVVHG)RUPBK:QG 7KHQ 1H[WB&WUO,QVWDQFH
)RU, 7R
&WUO,QVWDQFHB3WU,
1H[W,
6XE&ODVVHG)RUPB2ULJ:QG3URF 6HW:LQGRZ/RQJ3WUK)RUP*:/B:1'352&B
(QG,I
$GGUHVV2I9%)RUP:QG3URF
6XE&ODVVHG)RUPBK:QG K)RUP
&WUO,QVWDQFHB3WU1H[WB&WUO,QVWDQFH 2EM3WUS6XE&ODVV&WUO
1H[WB&WUO,QVWDQFH 1H[WB&WUO,QVWDQFH
6XE&ODVV 7UXH (QG,I
(QG)XQFWLRQ
3XEOLF6XE8Q6XE&ODVV 'LP,$V,QWHJHU
,I6XE&ODVVHG)RUPB2ULJ:QG3URF!7KHQ
&DOO6HW:LQGRZ/RQJ3WU6XE&ODVVHG)RUPBK:QG*:/B:1'352&B 6XE&ODVVHG)RUPB2ULJ:QG3URF 6XE&ODVVHG)RUPB2ULJ:QG3URF
)RU, 7R
&WUO,QVWDQFHB3WU,
1H[W, (QG,I
(QG6XE
3ULYDWH)XQFWLRQ9%)RUP:QG3URF%\9DOK:QG$V/RQJ%\9DOZ0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
'LPR2EMHFW$V8VHU&RQWURO 'LP,$V,QWHJHU
)RU, 7R
,I&WUO,QVWDQFHB3WU, !7KHQ
&DOO&RS\0HPRU\R2EMHFW&WUO,QVWDQFHB3WU,
9%)RUP:QG3URF R2EMHFW+DQGOH0HVVDJH6XE&ODVVHG)RUPB2ULJ:QG3URFB
Z3DUDPO3DUDP
K:QGZ0VJ
&DOO&RS\0HPRU\R2EMHFW (QG,I 1H[W,
(QG)XQFWLRQ
7KHPDMRUFKDQJHWRWKLVPRGXOHLVWKDWWKH&WUO,QVWDQFHB3WUPHPEHUYDULDEOHLVQRZDQ
DUUD\7KRXJKWKLVDUUD\LVVHWWRDVL]HRIILYHWKHFRGHFRXOGEHFKDQJHGWRDOORZDQ
XQERXQGHGQXPEHURIFRQWUROVWREHSODFHGRQWKHIRUPDWDQ\RQHWLPH,OHIWWKLVLQIOH[LELOLW\
LQWKHFRGHVRWKDWWKHFRGHZRXOGVWD\OHDQDQGHDVLHUWRUHDG
7KH6XE&ODVVIXQFWLRQVWLOOXVHVRQO\6HW:LQGRZ/RQJ3WUWRVXEFODVVWKHIRUPIRUWKHILUVW
LQVWDQFHRIWKHFRQWUROWKDWLVVLWHGRQWKHIRUP7KLVIXQFWLRQDGGVFRGHWRVDYHDSRLQWHUWR
HDFKLQVWDQFHRIWKHFRQWUROLQWRWKH&WUO,QVWDQFHB3WUDUUD\
7KH8Q6XE&ODVVIXQFWLRQFDOOV6HW:LQGRZ/RQJ3WUWRUHPRYHWKHVXEFODVVSURFHGXUHIRUWKH
FRQWUROWKDWLQVWDOOHGWKHVXEFODVVSURFHGXUH7KHQHDFKHOHPHQWRIWKH&WUO,QVWDQFHB3WU
DUUD\LVLQLWLDOL]HGEDFNWR]HUR
7KH9%)RUP:QG3URFIXQFWLRQLVPRGLILHGWRLWHUDWHWKURXJKWKHHQWLUHDUUD\RISRLQWHUVWR
FRQWUROVDQGFDOOWKH+DQGOH0HVVDJHIXQFWLRQRQHDFKFRQWURO
1RFKDQJHVZHUHPDGHWRWKH8VHU&RQWUROFWOPRGXOH
:HQRZFDQSODFHWKLVFRQWURORQDWHVWIRUP2QFHDJDLQZHGRQRWQHHGWRDGGDQ\FRGHWR
WKHIRUPIRUWKHVXEFODVVLQJWRZRUNSURSHUO\)LJXUHVKRZVDWHVWIRUPWKDWKRVWVWKUHH FRQWUROV
)LJXUH6FUHHQVKRWRIWKHWHVWIRUPKRVWLQJWKUHHRIWKHQHZFRQWUROV
:KHQWKLVDSSOLFDWLRQUXQVDQGWKHFOLHQWDUHDRIWKHIRUPLVFOLFNHGWKHEDFNJURXQGFRORUVRI
HDFKFRQWUROQRZFKDQJHFRORULQXQLVRQ$VPDOOSUREOHPRFFXUVKRZHYHUDQGZHPXVW
UHPHG\LWLIWKHIRUPLVUHVL]HGPRYHGPLQLPL]HGRUPD[LPL]HGWKHDSSOLFDWLRQJRHV
KD\ZLUH7KHIRUPDQGLWVFRQWUROVZLOOQRWSDLQWSURSHUO\DQGWKHPRXVHFXUVRUEHFRPHV
VWXFNZKHQWKHIRUPLVUHVL]HG7KHVHDUHMXVWVRPHRIWKHSUREOHPV5DWKHUWKDQJRLQJRQ
DERXWKRZWKHDSSOLFDWLRQIDLOVWRZRUNSURSHUO\,ZLOOVKRZ\RXZK\LWIDLOVWRZRUNSURSHUO\
1RWLFHWKDWWKH9%)RUP:QG3URFVXEFODVVSURFHGXUHLQ([DPSOHORRSVWKURXJKDOOWKH
FRQWUROVWKDWH[LVWLQWKH&WUO,QVWDQFHB3WUDUUD\DQGFDOOVWKH+DQGOH0HVVDJHIXQFWLRQIRUHDFK
LQVWDQFHRIWKHFRQWURO:KHQWKHORRSLVGRQHLWSDVVHVEDFNWKHUHWXUQYDOXHRIWKHODVWFDOO
WR+DQGOH0HVVDJH7KLVYDOXHZLOODOPRVWDOZD\VEH]HURXQOHVVRQO\RQHFRQWUROH[LVWVRQ
WKHIRUP5HPHPEHUWKDWWKH9%)RUP:QG3URFIXQFWLRQLVWKHVXEFODVVSURFHGXUHDQGWKH
YDOXHWKDWWKLVIXQFWLRQUHWXUQVGHWHUPLQHVKRZWKHRULJLQDOZLQGRZSURFHGXUHKDQGOHVWKLV
PHVVDJH:KHQD]HURLVUHWXUQHGWKHRULJLQDOZLQGRZSURFHGXUHWKLQNVWKHPHVVDJHZDV
KDQGOHGDQGQRPRUHSURFHVVLQJVKRXOGRFFXURQWKDWPHVVDJH7KHRSHUDWLQJV\VWHP
EHFRPHVFRQIXVHGDERXWZKDWLWVKRXOGGRLIDQ\WKLQJ7KLVLVZK\WKHIRUPEHKDYHVRGGO\
&UHDWLQJWKH7KLUG9HUVLRQRIWKH&RQWURO 7RIL[WKLVSUREOHPZHFDQPRGLI\9%)RUP:QG3URFDV([DPSOHVKRZV(VVHQWLDOO\ WKLVIXQFWLRQQRZFDOOVRQO\WKH+DQGOH0HVVDJHIXQFWLRQIRUWKHLQVWDQFHRIWKHFRQWUROWKDW
VXEFODVVHGWKHIRUPIRUDOORWKHULQVWDQFHVRIWKHFRQWUROLWFDOOVWKH+DQGOH2WKHUVPHWKRG
7KLVDOORZVWKHUHWXUQYDOXHRIWKHFRQWUROWKDWDFWXDOO\VXEFODVVHGWKHIRUPWREHUHWDLQHG
7KLVYDOXHLVWKHQSDVVHGEDFNE\WKLVIXQFWLRQ
([DPSOH7KH7KLUG9HUVLRQRIWKH9%)RUP:QG3URF3URFHGXUH 3ULYDWH)XQFWLRQ9%)RUP:QG3URF%\9DOK:QG$V/RQJ%\9DOZ0VJ$V/RQJB %\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ 'LPR2EMHFW$V8VHU&RQWURO
'LP,$V,QWHJHU
'LP5HW9DO$V/RQJ
)RU, 7R
,I&WUO,QVWDQFHB3WU, !7KHQ
&DOO&RS\0HPRU\R2EMHFW&WUO,QVWDQFHB3WU, ,I, 7KHQ
5HW9DO R2EMHFW+DQGOH0HVVDJH6XE&ODVVHG)RUPB2ULJ:QG3URFB
O3DUDP
K:QGZ0VJZ3DUDP
(OVH
&DOOR2EMHFW+DQGOH2WKHUVK:QGZ0VJZ3DUDPO3DUDP (QG,I
&DOO&RS\0HPRU\R2EMHFW (QG,I 1H[W,
2WKHUZLVHWKLVPDLQVXEFODVVSURFRQO\UHWXUQV]HUR 9%)RUP:QG3URF 5HW9DO
(QG)XQFWLRQ
7KH8VHU&RQWUROFOWPRGXOHLVPRGLILHGDV([DPSOHVKRZV(YHU\WKLQJVWD\VWKH
VDPHLQWKLVPRGXOHH[FHSWIRUWKHDGGLWLRQRIWKH+DQGOH2WKHUVIXQFWLRQ7KLVIXQFWLRQ
KDQGOHVWKHPHVVDJHVSDVVHGWRDOOWKHRWKHUFRQWUROVWKDWGLGQRWVXEFODVVWKHIRUP1RWLFH
WKDWWKHRQO\GLIIHUHQFHEHWZHHQWKH+DQGOH2WKHUVDQG+DQGOH0HVVDJHIXQFWLRQVLVWKDWWKH
ODWWHUFDOOV&DOO:LQGRZ3URF7KLVDOORZVWKHRULJLQDOZLQGRZSURFHGXUHWRKDQGOHWKH
PHVVDJHRQO\RQFH,IDOOFRQWUROVFDOOHGWKH+DQGOH0HVVDJHIXQFWLRQWKHPHVVDJHZRXOGEH
SDVVHGLQWRWKHRULJLQDOZLQGRZSURFHGXUHRQFHIRUHYHU\FRQWUROLQVWDQFH7KLVLVYHU\EDG
DQGFRQIXVHVWKHZLQGRZDERXWZKDWVWDWHLWLVLQ
([DPSOH7KH7KLUG9HUVLRQRIWKH8VHU&RQWUROFWO0RGXOH 3ULYDWH&RQVW:0B/%87721'2:1 + 3ULYDWH&RQVW:0B/%8772183 +
3ULYDWH6XEFODVVLQJ&WUO$V%RROHDQ
3ULYDWH6XE8VHU&RQWUROB,QLWLDOL]H
6XEFODVVLQJ&WUO )DOVH
(QG6XE
)ULHQG)XQFWLRQ+DQGOH2WKHUV%\9DOK:QG$V/RQJ%\9DOZ0VJ$V/RQJB
6HOHFW&DVHZ0VJ
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
&DVH:0B/%87721'2:1
8VHU&RQWURO%DFN&RORU YE%OXH
&DVH:0B/%8772183
8VHU&RQWURO%DFN&RORU YE:KLWH
(QG6HOHFW (QG)XQFWLRQ
)ULHQG)XQFWLRQ+DQGOH0HVVDJH%\9DO2ULJ3URF$V/RQJ%\9DOK:QG$V/RQJB
%\9DOZ0VJ$V/RQJ%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
6HOHFW&DVHZ0VJ
&DVH:0B/%87721'2:1
8VHU&RQWURO%DFN&RORU YE%OXH
&DVH:0B/%8772183
8VHU&RQWURO%DFN&RORU YE:KLWH (QG6HOHFW
+DQGOH0HVVDJH &DOO:LQGRZ3URF2ULJ3URFK:QGZ0VJZ3DUDPO3DUDP
(QG)XQFWLRQ
3ULYDWH6XE8VHU&RQWUROB5HDG3URSHUWLHV3URS%DJ$V3URSHUW\%DJ 6XEFODVVLQJ&WUO 6XE&ODVV8VHU&RQWURO3DUHQWK:QG0H (QG6XE
3ULYDWH6XE8VHU&RQWUROB7HUPLQDWH
,I6XEFODVVLQJ&WUO7KHQ&DOO8Q6XE&ODVV
(QG6XE
$V\RXFDQVHHWKHUHDUHPDQ\GLIIHUHQWZD\VWRXVHVXEFODVVLQJZLWK$FWLYH;FRQWUROV :KLFKPHWKRG\RXFKRRVHZLOOGHSHQGRQWKHDSSOLFDWLRQ
7KHUHDOEHQHILWRIXVLQJVXEFODVVLQJZLWK$FWLYH;FRQWUROVLVWKDW\RXJDLQWKHDELOLW\WRGURSD
VXEFODVVLQJFRQWURORQWRDIRUPDQGQRWKLQJPRUHQHHGVWREHGRQH7KLVHQFDSVXODWLRQRI WKHVXEFODVVLQJIXQFWLRQDOLW\LVDZRQGHUIXOWKLQJ
&KDSWHU6XSHUFODVVLQJ 7KLVFKDSWHULVGLYLGHGLQWRWZRVHFWLRQV7KHILUVWVHFWLRQGHDOVVWULFWO\ZLWKGHILQLQJDQG
FRPSDULQJVXSHUFODVVLQJWRVXEFODVVLQJ7KHVHFRQGVHFWLRQWDNHVDFORVHUORRNDWXVLQJRQO\
WKH:LQGRZVDSSOLFDWLRQSURJUDPPLQJLQWHUIDFH$3, IURPZLWKLQ9LVXDO%DVLF9% WRFUHDWH
DZLQGRZFODVVDQGLQVWDQWLDWHDZLQGRZIURPWKDWFODVV7KLVPDWHULDOZLOOQRWRQO\GLVFXVV
WKHXVHRIVHYHUDO$3,VUHTXLUHGIRUVXSHUFODVVLQJZLWKLQ9%EXWLWZLOODOVRJLYHDEHWWHUORRN
LQWRPHVVDJHORRSVDQGZLQGRZFUHDWLRQ,ZLOOSURYLGHDQH[DPSOHZULWWHQVWULFWO\LQ9%WR GHPRQVWUDWHVXSHUFODVVLQJIURPVWDUWWRILQLVK
:KDW,V6XSHUFODVVLQJ" 6XSHUFODVVLQJDOVRNQRZQDVFODVVFORQLQJDOORZVXVWREXLOGXSRQDQH[LVWLQJZLQGRZFODVV
6HH)LJXUHIRUDQLOOXVWUDWLRQRIWKLVWHFKQLTXH7KHH[LVWLQJFODVVLVFDOOHGWKHEDVH
FODVV7KLVFDQEHDQ\DYDLODEOHFODVVGHILQHGE\WKHV\VWHPRUE\DQDSSOLFDWLRQ7KHEDVH
FODVVLQIRUPDWLRQREWDLQHGIURPLWV:1'&/$66(;VWUXFWXUHLVFRSLHGLQWRDVHFRQG
:1'&/$66(;VWUXFWXUH7KLVVHFRQG:1'&/$66(;VWUXFWXUHLVWKHEHJLQQLQJRIRXU
VXSHUFODVV%HIRUHZHKDYHDXVDEOHVXSHUFODVVZHPXVWGRDFRXSOHRIWKLQJVWRWKLVQHZ
FODVVVWUXFWXUH:HPXVWJLYHLWDQHZFODVVQDPHDQHZLQVWDQFHKDQGOHDQGDQHZZLQGRZ
SURFHGXUH$OVRZHPXVWUHJLVWHULWZLWKWKHV\VWHP$IWHUZHGRWKLVZHKDYHDVXSHUFODVV WKDWZHFDQXVHWRFUHDWHQHZVSHFLDOL]HGZLQGRZVIRURXUDSSOLFDWLRQV )LJXUH7KHVXSHUFODVVLQJWHFKQLTXH
7KHQHZZLQGRZSURFHGXUHZHSURYLGHIRUWKHVXSHUFODVVGHILQHVWKHEHKDYLRURIZLQGRZV
GHULYHGIURPWKLVFODVV:HFDQDOVRPRGLI\PHPEHUVRIWKHVXSHUFODVV V :1'&/$66(;
VWUXFWXUH)RUH[DPSOHWKHVW\OHPHPEHUFDQEHPRGLILHGWRFKDQJHWKHZLQGRZ VERUGHURU
WKHKEU%DFNJURXQGPHPEHUFDQEHFKDQJHGWRGHILQHWKHZLQGRZ VGHIDXOWEDFNJURXQGFRORU
7KHVHPRGLILFDWLRQVDUHOHIWWRWKHGHYHORSHU VGLVFUHWLRQ
:KHQWKHVXSHUFODVVLQJDSSOLFDWLRQWHUPLQDWHVLWVKRXOGUHPRYHDOOVXSHUFODVVHVWKDWLW
FUHDWHGIURPPHPRU\,WGRHVWKLVWKURXJKDFDOOWRWKH8QUHJLVWHU&ODVV$3,IXQFWLRQ:KHQ
DQDSSOLFDWLRQWHUPLQDWHVLWDXWRPDWLFDOO\XQUHJLVWHUVLWVFODVVHVH[FHSWIRUFODVVHVFUHDWHG
E\G\QDPLFOLQNOLEUDULHV'//V XQGHU:LQGRZV17RU:LQGRZV)RUWKLVUHDVRQ\RX
VKRXOGDOZD\VFDOO8QUHJLVWHU&ODVV
6LPLODULWLHVDQG'LIIHUHQFHV%HWZHHQ6XEFODVVLQJDQG6XSHUFODVVLQJ 6XSHUFODVVLQJKDVPXFKLQFRPPRQZLWKJOREDOVXEFODVVLQJVHH)LJXUHDQG)LJXUH
IRUWKLVFRPSDULVRQ(DFKPRGLILHVDZLQGRZFODVVVWUXFWXUH*OREDOVXEFODVVLQJPRGLILHV
WKHRULJLQDOZLQGRZFODVVVWUXFWXUHZKLOHVXSHUFODVVLQJPRGLILHVDQHZZLQGRZFODVVFUHDWHG
IURPWKHRULJLQDORUEDVHZLQGRZFODVVVWUXFWXUH
)LJXUH*OREDOVXEFODVVLQJ
%RWKWKHVXSHUFODVVLQJDQGJOREDOVXEFODVVLQJWHFKQLTXHVPRGLI\WKHOSIQ:QG3URFPHPEHU
IXQFWLRQRIWKHZLQGRZFODVV*OREDOVXEFODVVLQJPRGLILHVWKHOSIQ:QG3URFPHPEHURIWKH
RULJLQDOZLQGRZFODVV6XSHUFODVVLQJPRGLILHVWKHOSIQ:QG3URFPHPEHURIWKHQHZ
VXSHUFODVVVWUXFWXUH
%HFDXVHVXSHUFODVVLQJDQGJOREDOVXEFODVVLQJPRGLI\WKHZLQGRZFODVVVXEVHTXHQW
ZLQGRZVFUHDWHGIURPWKLVPRGLILHGFODVVFDOOWKHQHZZLQGRZSURFHGXUHZKLFKZHGHILQH
7KHUHIRUHZHFDQXVHERWKWHFKQLTXHVWRPRGLI\WKHEHKDYLRURIDOOZLQGRZVEHORQJLQJWRD
VLQJOHZLQGRZFODVV,QVWDQFHVXEFODVVLQJDOORZVRQO\DVLQJOHZLQGRZLQVWDQFHWREH
PRGLILHG
6XSHUFODVVLQJLVYHU\GLIIHUHQWIURPLQVWDQFHVXEFODVVLQJDV)LJXUHDQG)LJXUH
VKRZ6XSHUFODVVLQJPRGLILHVWKHOSIQ:QG3URFPHPEHURIWKHFODVVVWUXFWXUHZKLOHLQVWDQFH
VXEFODVVLQJPRGLILHVWKHOSIQ:QG3URFFRQWDLQHGLQWKHZLQGRZLWVHOI5HPHPEHUZKHQWKH
ZLQGRZLVFUHDWHGLWUHFHLYHVDFRS\RIWKHFODVVVWUXFWXUHLQIRUPDWLRQXVHGWRFUHDWHLW,Q
LQVWDQFHVXEFODVVLQJWKHOSIQ:QG3URFUHVLGLQJLQWKHZLQGRZLVPRGLILHG7KHUHIRUHLQVWDQFH
VXEFODVVLQJPRGLILHVWKHEHKDYLRURIRQO\DVLQJOHZLQGRZ
)LJXUH,QVWDQFHVXEFODVVLQJ
$OOW\SHVRIVXEFODVVLQJUHTXLUHWKDWWKHOSIQ:QG&ODVVIXQFWLRQSRLQWHUEHUHVWRUHGWRLWV
RULJLQDOYDOXH,IWKLVLVQRWGRQHWKHVXEFODVVHGZLQGRZSURFHGXUHZLOOEHGHVWUR\HGZKLOH
PHVVDJHVDUHVWLOOEHLQJVHQWWRLWWKURXJKWKHOSIQ:QG3URFIXQFWLRQSRLQWHU7KHOSIQ:QG3URF
EHFRPHVLQYDOLGDWWKLVSRLQWDQGFDXVHV\RXUDSSOLFDWLRQWRFUDVK
6XSHUFODVVLQJRQWKHRWKHUKDQGGRHVQRWUHTXLUHWKHOSIQ:QG3URFIRUDQ\FODVVRUZLQGRZ
EHUHVWRUHGWRLWVRULJLQDOVWDWH6XSHUFODVVLQJFUHDWHVDQHZZLQGRZFODVVIURPWKHEDVH
FODVVEXWXQOLNHJOREDOVXEFODVVLQJLWGRHVQRWPRGLI\WKHEDVHZLQGRZFODVV,QVWHDG
VXSHUFODVVLQJPRGLILHVWKHQHZZLQGRZFODVVDQGWKHUHIRUHWKHOSIQ:QG3URFRIWKHEDVH
FODVVLVDOZD\VYDOLG7KLVPHDQVWKDWWKHUHLVQRQHHGWRUHVWRUHWKHPHPEHUYDOXHVRIWKH EDVHFODVVZKHQH[LWLQJWKHDSSOLFDWLRQ$VIRUWKHVXSHUFODVVDQ\ZLQGRZWKHVXSHUFODVV
FUHDWHVZLOOEHGHVWUR\HGEHIRUHWKHVXSHUFODVVZLQGRZSURFHGXUHLVGHVWUR\HG7KHUHIRUH WKHOSIQ:QG3URFLVYDOLGDVORQJDVWKHZLQGRZLVLQPHPRU\
6XSHUFODVVLQJDOORZVWKH:0B&5($7(DQG:0B1&&5($7(ZLQGRZPHVVDJHVWREH
FDSWXUHG2QO\JOREDOVXEFODVVLQJDOVRJLYHV\RXWKLVDELOLW\7KLVZRUNVEHFDXVHWKHPRGLILHG
OSIQ:QG3URFLVLQKHULWHGIURPWKHZLQGRZFODVVZKHQDZLQGRZLVFUHDWHG7KLVIRUFHVDOO
ZLQGRZFUHDWLRQPHVVDJHVWRLQLWLDOO\SDVVWKURXJKRXUZLQGRZSURFHGXUH:HFDQQRWFDSWXUH
ZLQGRZFUHDWLRQPHVVDJHVXVLQJLQVWDQFHVXEFODVVLQJEHFDXVHWKLVWHFKQLTXHGRHVQRW
RSHUDWHRQWKHZLQGRZFODVV,QVWDQFHVXEFODVVLQJLVSHUIRUPHGDIWHUDZLQGRZKDVEHHQ
FUHDWHG
7RUHFDSWKHIROORZLQJOLVWFRPSDUHVVXSHUFODVVLQJZLWKVXEFODVVLQJ •
6XSHUFODVVLQJLVVLPLODUWRJOREDOVXEFODVVLQJLQWKHIROORZLQJZD\V o o o
•
%RWKGHDOZLWKDFODVVVWUXFWXUH
%RWKPRGLI\WKHOSIQ:QG3URFPHPEHURIDZLQGRZFODVVVWUXFWXUH
6XEVHTXHQWZLQGRZVFUHDWHGIURPWKHPRGLILHGFODVVXVHWKHVDPH
GHYHORSHUGHILQHGZLQGRZSURFHGXUH
o
%RWKDOORZWKHFDSWXUHRIZLQGRZFUHDWLRQPHVVDJHV
o
6XSHUFODVVLQJFUHDWHVDQHZZLQGRZFODVVDQGPRGLILHVLWZKLOHJOREDO
6XSHUFODVVLQJLVGLIIHUHQWIURPJOREDOVXEFODVVLQJLQWKHIROORZLQJZD\V
o
VXEFODVVLQJPRGLILHVWKHRULJLQDOZLQGRZFODVV
$SSOLFDWLRQVLQFRUSRUDWLQJVXSHUFODVVLQJFOHDQXSE\FDOOLQJ
8QUHJLVWHU&ODVVRQDOOVXSHUFODVVHGFODVVHV$SSOLFDWLRQVLQFRUSRUDWLQJ
JOREDOVXEFODVVLQJFOHDQXSE\FDOOLQJ6HW&ODVV/RQJ3WUWRUHVWRUHWKH
RULJLQDOZLQGRZFODVVWRLWVLQLWLDOVWDWH
o
6XSHUFODVVLQJUHTXLUHVWKDWWKHOS&ODVV1DPHPHPEHURIWKHZLQGRZFODVV
VWUXFWXUHEHPRGLILHG
VXEFODVVLQJ
•
6XSHUFODVVLQJLVFRPSOHWHO\GLIIHUHQWIURPLQVWDQFHVXEFODVVLQJLQWKHIROORZLQJZD\ o
6XSHUFODVVLQJPRGLILHVWKHEHKDYLRURIDOOZLQGRZVFUHDWHGIURPDVLQJOH
FODVV,QVWDQFHVXEFODVVLQJPRGLILHVWKHEHKDYLRURIDVLQJOHZLQGRZ
LQVWDQFH
:KHQWR8VH6XSHUFODVVLQJ
EHKDYLRURIDOOZLQGRZVFUHDWHGIURPDVLQJOHZLQGRZFODVV,QVWDQFHVXEFODVVLQJGRHVQRW
JLYHXVWKLVDELOLW\$OWKRXJKJOREDOVXEFODVVLQJDOVRPRGLILHVWKHEHKDYLRURIDOOZLQGRZV
FUHDWHGIURPDVLQJOHFODVVWKHUHDUHVXEWOHGLIIHUHQFHVEHWZHHQVXSHUFODVVLQJDQGJOREDO
VXEFODVVLQJ
7KHPDLQDGYDQWDJHWRXVLQJVXSHUFODVVLQJRYHUJOREDOVXEFODVVLQJLVWKDWVXSHUFODVVLQJ GRHVQRWPRGLI\WKHEDVHZLQGRZFODVV,QVWHDGLWSUHVHUYHVWKHEDVHZLQGRZFODVV
LQIRUPDWLRQ7KLVDOORZVXVWRXVHERWKWKHEDVHZLQGRZFODVVDQGWKHVXSHUFODVVHGZLQGRZ
FODVVLQRXUDSSOLFDWLRQV7KLVLVQRWSRVVLEOHZLWKJOREDOVXEFODVVLQJ*OREDOVXEFODVVLQJ GLUHFWO\PRGLILHVWKHZLQGRZFODVVVWUXFWXUHVRWKDWDOOZLQGRZVFUHDWHGDIWHUZHKDYH
PRGLILHGWKHOSIQ:QG3URFPHPEHUDUHQHFHVVDULO\VXEFODVVHG
+RZWKH6XSHUFODVVLQJ([DPSOH:RUNV 7RLOOXVWUDWHKRZ\RXXVHVXSHUFODVVLQJ,ZLOOVWHSWKURXJKFUHDWLQJDUHODWLYHO\VLPSOH
DSSOLFDWLRQZKLFKVXSHUFODVVHVWZRH[LVWLQJZLQGRZFODVVHV,ZURWHWKHFRGHFRPSOHWHO\LQ
9%+RZHYHU,ZURWHLWXVLQJ:LQGRZV$3,IXQFWLRQV9LVXDO&GHYHORSHUVPLJKWUHFRJQL]H
WKLVFRGHWREHVLPLODUWRWKHVWDQGDUGKHOORZRUOGDSSOLFDWLRQZULWWHQLQ9LVXDO&
7KHH[DPSOHZLOOILUVWVXSHUFODVVWKH7KXQGHU5W)RUP'&FODVVWKDWLVXVHGWRFUHDWH9%
IRUPV7KHQHZFODVVZLOOEHLGHQWLILHGE\WKHQDPH1HZ0DLQ:LQGRZ&ODVV,WZLOOKDYHLWV
RZQZLQGRZSURFHGXUHDQGZLOOXVHWKH,'&B83$552:PRXVHSRLQWHUDVLWVGHIDXOWSRLQWHU
1RUPDOO\ZLQGRZFODVVHVXVHWKH,'&B$552:IRUWKHLUPRXVHSRLQWHU7KH
,'&B83$552:PRXVHSRLQWHULVVLPSO\DQDUURZSRLQWHUVLPLODUWRWKHGHIDXOWPRXVH
SRLQWHUH[FHSWWKDWLWSRLQWVVWUDLJKWXSLQVWHDGRIXSZDUGDQGWRWKHOHIW
7KHFDSWLRQIRUWKHILUVWZLQGRZFUHDWHGIURPWKH1HZ0DLQ:LQGRZ&ODVVVXSHUFODVVZLOOEH
0DLQ:LQGRZDV)LJXUHVKRZV$OOVXEVHTXHQWZLQGRZVFUHDWHGIURPWKLVFODVVZLOO KDYHWKHFDSWLRQ1HZ:LQGRZDV)LJXUHVKRZV
)LJXUH7KHPDLQZLQGRZ
)LJXUH7KHQHZZLQGRZ
,QDGGLWLRQWRVXSHUFODVVLQJ7KXQGHU57)RUP'&ZH OODOVRVXSHUFODVVWKHV\VWHPZLGH
%87721ZLQGRZFODVV7KLVLVWKHFODVVWKDWFUHDWHVWKHVWDQGDUGSXVKEXWWRQRUFRPPDQG
EXWWRQFRQWURO:H OOQDPHWKHQHZ%87721FODVV1HZ%XWWRQ&ODVVDQGGHILQHDQHZZLQGRZ
SURFHGXUHIRULW7KLVQHZZLQGRZSURFHGXUHZLOOFKDQJHWKHEHKDYLRURIWKH
:0B/%8772183PRXVHEXWWRQPHVVDJH:KHQWKHXVHUFOLFNVWKHOHIWPRXVHEXWWRQRYHU
WKLVVXSHUFODVVHGEXWWRQLWZLOOFUHDWHDQHZZLQGRZIURPWKHFODVV1HZ0DLQ:LQGRZ&ODVV DQGWKHQSODFHDEXWWRQFUHDWHGIURPWKH1HZ%XWWRQ&ODVVFODVVRQWKHZLQGRZ
:KHQ\RXVWDUWXSWKH(;(IRUWKLVH[DPSOHLWZLOOLQLWLDOO\FUHDWHDVXSHUFODVVHG
7KXQGHU57)RUP'&ZLQGRZFRQWDLQLQJDVXSHUFODVVHG%87721FRQWURO:KHQ\RXFOLFNWKH
EXWWRQFRQWUROLWZLOOFUHDWHDQHZIRUPZLWKDQHZEXWWRQFRQWURO7KHFDSWLRQIRUWKLVQHZ
ZLQGRZZLOOEH1HZ:LQGRZ7KHEXWWRQRQWKHQHZO\FUHDWHGZLQGRZDOVRFDQFUHDWHD
QHZVXSHUFODVVHG7KXQGHU57)RUP'&ZLQGRZFRQWDLQLQJDVXSHUFODVVHG%87721FRQWURO
7KHDSSOLFDWLRQWHUPLQDWHVZKHQ\RXFORVHWKHPDLQZLQGRZWKHRQHZLWKWKH0DLQ:LQGRZ
FDSWLRQ 7KLVFORVHVDOOZLQGRZVEHORQJLQJWRWKLVDSSOLFDWLRQDQGVKXWVGRZQWKHDSSOLFDWLRQ
7KH&RGH ,WLVQRWDVHDV\WRLPSOHPHQWVXSHUFODVVLQJLQ9%DVLWLVWRLPSOHPHQWVXEFODVVLQJ9%GRHV
QRWDOORZWKHGHYHORSHUGLUHFWDFFHVVWRZLQGRZFODVVHVRUWRWKHPHVVDJHORRS9%KDQGOHV
WKHVHWKLQJVEHKLQGWKHVFHQHV7KLVLVZK\ZHQHHGWRLQFRUSRUDWHVHYHUDO:LQGRZV$3,
IXQFWLRQVLQWRRXUVXSHUFODVVLQJDSSOLFDWLRQ7KHVH:LQGRZV$3,IXQFWLRQVJLYHXVWKHDELOLW\
WRFUHDWHRXURZQZLQGRZFODVVHVLQVWDQWLDWHDZLQGRZIURPWKDWFODVVDQGFUHDWHRXURZQ
PHVVDJHORRS
7KHPHVVDJHORRSWKDWZHFUHDWHGRHVQRWUHSODFHWKHPHVVDJHORRSWKDW9%SURYLGHV
,QVWHDGWKHPHVVDJHORRSZHFUHDWHUXQVLQSDUDOOHOZLWKWKH9%PHVVDJHORRS%RWKORRSV
ZLOOEHUXQQLQJLQWKHVDPHWKUHDGDQGZLOOEHJUDEELQJPHVVDJHVIURPWKDWWKUHDG VPHVVDJH
TXHXH5HPHPEHU9%FUHDWHVRQHWKUHDGIRUDOOLWVDSSOLFDWLRQVDQGHYHU\WKUHDGFUHDWHVD
PHVVDJHTXHXHDQGDPHVVDJHORRSIRULWVHOI$VVXFKERWKPHVVDJHORRSVLQVWHDGRIRQO\
WKHWKUHDG VGHIDXOWPHVVDJHORRSZLOOEHUXQQLQJ,WGRHVQRWPDWWHUZKLFKORRSUHFHLYHVD
PHVVDJHEHFDXVHERWKORRSVZLOOGLVSDWFKWKHPHVVDJHWRWKHFRUUHFWZLQGRZIRUSURFHVVLQJ
7KHSURMHFWW\SHIRUWKLVDSSOLFDWLRQLVD6WDQGDUG(;(SURMHFWDQGZLOOFRQWDLQDIRUP
)RUPIUP WKDWFRQWDLQVQRFRQWUROVDQGQRFRGH,WVRQO\XVHLVWRSURYLGHWKHRULJLQDOFODVV
LQIRUPDWLRQWKDWZLOOEHWKHIRXQGDWLRQRIRXU1HZ0DLQ:LQGRZ&ODVVFODVV7KLVSURMHFWDOVR
ZLOOFRQWDLQD%$6PRGXOH0RGXOHEDV WKDWFRQWDLQVDOOWKHFRGHIRUWKLVSURMHFW 7KHPRGXOHOHYHOGHFODUDWLRQV 7KHFRQVWDQWVIRUWKH%$6PRGXOHDUHGHILQHGDVIROORZV
0RGXOH6FRSH&RQVW
3ULYDWH&RQVW6&%XWWRQ&ODVV1DPH 1HZ%WWQ&ODVV
3ULYDWH&RQVW:LQGRZ&ODVV1DPH 1HZ0DLQ:QG&ODVV
7KHVHWZRFRQVWDQWVFRQWDLQWKHFODVVQDPHVRIWKHVXSHUFODVVHGEXWWRQDQGIRUP
7KHYDULDEOHVIRUWKH%$6PRGXOHDUHGHILQHGDVIROORZV
0RGXOH6FRSH9DUV
3ULYDWHPBKZQG0DLQ$V/RQJ
3ULYDWHPB2ULJ%WWQ:LQ3URF$V/RQJ 3ULYDWHPB2ULJ:LQ3URF$V/RQJ
3ULYDWHPB&UHDWHG:QG+DQGOHV $V/RQJ
PBKZQG0DLQFRQWDLQVWKHKDQGOHWRWKHILUVWLQVWDQFHRIWKHZLQGRZFUHDWHGIURPWKH
1HZ0DLQ:QG&ODVVFODVVPB2ULJ%WWQ:LQ3URFFRQWDLQVWKHSRLQWHUWRWKHRULJLQDOZLQGRZ
SURFHGXUHRIWKH%87721FODVV/LNHZLVHPB2ULJ:LQ3URFFRQWDLQVWKHSRLQWHUWRWKHRULJLQDO
ZLQGRZSURFHGXUHRIWKH7KXQGHU57)RUP'&FODVV
7KHPB&UHDWHG:QG+DQGOHVG\QDPLFDUUD\ZLOOFRQWDLQWKHK:QGVRIHYHU\QHZVXSHUFODVVHG
ZLQGRZWKDWLVFUHDWHGZKHQ\RXFOLFNWKHVXSHUFODVVHGEXWWRQFRQWURO:HXVHWKLVDUUD\
EHFDXVHZHPXVWWHUPLQDWHDOOWKHZLQGRZVWKDWZHFUHDWHIURPWKHVXSHUFODVVHG
7KXQGHU57)RUP'&FODVV,IZHGRQRWWKH8QUHJLVWHU&ODVVIXQFWLRQZLOOQRWEHDEOHWR
UHPRYHWKHZLQGRZVIURPPHPRU\EHIRUHWKHDSSOLFDWLRQVKXWVGRZQ 7KH6XE0DLQSURFHGXUH
%HFDXVHWKHSURMHFW VVWDUWXSREMHFWLVVHWWR6XE0DLQWKH0DLQVXEURXWLQHLVWKHILUVWFRGH
H[HFXWHGLQWKLVH[DPSOHDSSOLFDWLRQ7KHFRGHIRUWKH0DLQVXEURXWLQHDSSHDUVLQ([DPSOH
7KHVXEURXWLQHILUVWORDGVD9%IRUPZKLFKZHXVHWRUHWULHYHWKHFODVVLQIRUPDWLRQIRU
WKH7KXQGHU57)RUP'&FODVV1H[WWKLVVXEURXWLQHFDOOVWKH5HJLVWHU)RUP&ODVVDQG
5HJLVWHU%XWWRQ&ODVVIXQFWLRQVZKLFKDUHVKRZQLQ([DPSOHDQG([DPSOH UHVSHFWLYHO\%RWKRIWKHVHIXQFWLRQVFUHDWHWKHVXSHUFODVVHGFODVVHVIURPWKH
7KXQGHU57)RUP'&DQG%87721FODVVHV$IWHUZH YHVXSHUFODVVHGERWKWKH9%IRUPDQG
WKHFRPPDQGEXWWRQWKHQH[WIXQFWLRQ&UHDWH0DLQ:LQGRZZKLFKLVVKRZQLQ([DPSOH
FDOOV&UHDWH:LQGRZ([WRFUHDWHWKHLQLWLDOZLQGRZIURPWKHVXSHUFODVVHG
7KXQGHU57)RUP'&FODVV7KH&UHDWH6XSHU&OV%WWQIXQFWLRQZKLFKLVVKRZQLQ([DPSOH
FDOOV&UHDWH:LQGRZ([WRFUHDWHWKHEXWWRQFRQWUROZKLFKLVSODFHGRQWKHSUHYLRXVO\ FUHDWHGZLQGRZ
([DPSOH7KH0DLQ6XEURXWLQH 3XEOLF6XE0DLQ
'LPVWUXFW0VJ$V0VJ
'LPVWUXFW$FFHO$V/RQJ 3RLQWHUWR+$&&(/VWUXFWXUH
,QLWLDOL]DWLRQ
VWUXFW$FFHO 1RDFFHOHUDWRUWDEOHVLQWKLVSURMHFW
&UHDWHZLQGRZWRVWHDOFODVVLQIRIURP /RDG)RUP
5HJLVWHUPDLQZLQGRZ
,I5HJLVWHU)RUP&ODVV 7UXH7KHQ
5HJLVWHUEXWWRQVXSHUFODVV
,I5HJLVWHU%XWWRQ&ODVV 7UXH7KHQ &UHDWLRQ
,I&UHDWH0DLQ:LQGRZ 7UXH7KHQ &UHDWHPDLQZLQGRZ
,I&UHDWH6XSHU&OV%WWQ 7UXH7KHQ &UHDWHEXWWRQVXSHUFODVV
0HVVDJHORRS0HVVDJHSXPS
'R:KLOH*HW0HVVDJHVWUXFW0VJ
,I1RW7UDQVODWH$FFHOHUDWRUVWUXFW0VJKZQGVWUXFW$FFHOB VWUXFW0VJ 7KHQ
&DOO7UDQVODWH0HVVDJHVWUXFW0VJ &DOO'LVSDWFK0HVVDJHVWUXFW0VJ (QG,I /RRS
(QG,I
(QG,I
&OHDQXS
&DOO8QUHJLVWHU&ODVV6&%XWWRQ&ODVV1DPH$SSK,QVWDQFH &DOO8QUHJLVWHU&ODVV:LQGRZ&ODVV1DPH$SSK,QVWDQFH (QG,I
(QG,I
8QORDG)RUP
(QG6XE
,IHDFKIXQFWLRQUHWXUQVVXFFHVVIXOO\WKHPHVVDJHORRSLVVWDUWHG7KLVORRSUXQVXQWLOWKH
:0B48,7PHVVDJHLVUHFHLYHG:KHQWKH*HW0HVVDJHIXQFWLRQSURFHVVHVWKH:0B48,7
PHVVDJHLWDXWRPDWLFDOO\UHWXUQVD)$/6(YDOXH7KLVLVWKHRQO\PHVVDJHWKDWSURGXFHVD
)$/6(UHWXUQYDOXHIRUWKH*HW0HVVDJHIXQFWLRQ
7KHFRGHZLWKLQWKLVPHVVDJHORRSILUVWFKHFNVLIWKLVLVDQDFFHOHUDWRUPHVVDJH,IVR
7UDQVODWH$FFHOHUDWRULVWKHRQO\IXQFWLRQWKDWSURFHVVHVWKHPHVVDJH,IWKHPHVVDJHLVQRW
DQDFFHOHUDWRUWKH7UDQVODWH0HVVDJHDQGWKH'LVSDWFK0HVVDJHIXQFWLRQVSURFHVVWKH
PHVVDJHDQGSDVVLWRQWRWKHDSSURSULDWHZLQGRZSURFHGXUH
$IWHUWKHPHVVDJHORRSUHFHLYHVWKH:0B48,7PHVVDJHWKH*HW0HVVDJHIXQFWLRQUHWXUQV
)$/6(DQGWKHPHVVDJHORRSLVH[LWHG1RZWKDWWKHDSSOLFDWLRQLVWHUPLQDWLQJWKH
VXSHUFODVVHG7KXQGHU57)RUP'&DQG%87721FODVVHVPXVWEHGHVWUR\HGWRSURSHUO\
FOHDQXSWKHDSSOLFDWLRQ7KH8QUHJLVWHU&ODVVIXQFWLRQGHVWUR\VWKHVHFODVVHV,WLVGHILQHGLQ
9%DVIROORZV
3XEOLF'HFODUH)XQFWLRQ8QUHJLVWHU&ODVV/LEXVHU$OLDV8QUHJLVWHU&ODVV$B
%\9DOOS&ODVV1DPH$V6WULQJ%\9DOK,QVWDQFH$V/RQJ $V/RQJ
7KLVIXQFWLRQUHPRYHVWKHFODVVWKDWWKH5HJLVWHU&ODVV([$3,IXQFWLRQFUHDWHGIURPPHPRU\
,WWDNHVRQO\WZRDUJXPHQWVWKHILUVWLVWKHQDPHRIWKHFODVVOS&ODVV1DPH DQGWKHVHFRQG
LVWKHPRGXOHKDQGOHIRUWKHFODVVK,QVWDQFH 7KHYDOXHIRUWKHPRGXOHKDQGOHDUJXPHQW
K,QVWDQFHLVHTXLYDOHQWWRWKHK,QVWDQFHPHPEHURIWKH:1'&/$66(;VWUXFWXUH
/DVWO\WKH)RUPIRUPLVXQORDGHGIURPPHPRU\%HFDXVHWKLVLVWKHODVWIRUPOHIWLQWKH
DSSOLFDWLRQWKHDSSOLFDWLRQHQGV
1RWHWKDW9%FRQVLGHUVWKLVDSSOLFDWLRQWRFRQVLVWRIRQO\DVLQJOHIRUP)RUP7KLVLV
EHFDXVHE\XVLQJ&UHDWH:LQGRZ([WRFUHDWHDZLQGRZZHDUHFLUFXPYHQWLQJ9% VIRUP
FUHDWLRQPHWKRGV,QGRLQJVR9%ZLOOQRWNHHSDUHIHUHQFHFRXQWRIRXUZLQGRZVFUHDWHGZLWK
&UHDWH:LQGRZ([
0HVVDJHORRSRSHUDWLRQ ,DGGHGDPHVVDJHORRSWRWKLVDSSOLFDWLRQWRJLYH\RXDEHWWHULGHDRIKRZWKHORRSZRUNVDQG
ZKHUHLWILWVLQWRDQDSSOLFDWLRQ:HGRQRWDFWXDOO\KDYHWRZULWHWKLVSLHFHRIFRGHEHFDXVH 9%FUHDWHVLWVRZQPHVVDJHORRSIRUHDFKDSSOLFDWLRQ
RUFRPPHQWLQJRXW WKHFRGHWKDWPDNHVXSWKHORRSDV([DPSOHVKRZVDQGUXQQLQJ WKHDSSOLFDWLRQ$VDQRWH\RXDOVRZLOOKDYHWRUHPRYHWKHOLQHFRQWDLQLQJWKHFRGH8QORDG
)RUPLQWKLVIXQFWLRQ7KHDSSOLFDWLRQIXQFWLRQVWKHVDPHUHJDUGOHVVRIZKHWKHUWKLVORRSLV
LQFOXGHGLQWKHFRGH
([DPSOH7KH0DLQ6XEURXWLQH 3XEOLF6XE0DLQ
'LPVWUXFW0VJ$V0VJ
'LPVWUXFW$FFHO$V/RQJ 3RLQWHUWR+$&&(/VWUXFWXUH
,QLWLDOL]DWLRQ
VWUXFW$FFHO 1RDFFHOHUDWRUWDEOHVLQWKLVSURMHFW
&UHDWHZLQGRZWRVWHDOFODVVLQIRIURP
/RDG)RUP
5HJLVWHUPDLQZLQGRZ
,I5HJLVWHU)RUP&ODVV 7UXH7KHQ 5HJLVWHUEXWWRQVXSHUFODVV
,I5HJLVWHU%XWWRQ&ODVV 7UXH7KHQ &UHDWLRQ
,I&UHDWH0DLQ:LQGRZ 7UXH7KHQ &UHDWHPDLQZLQGRZ
,I&UHDWH6XSHU&OV%WWQ 7UXH7KHQ &UHDWHEXWWRQVXSHUFODVV
(QG,I (QG,I (QG,I (QG,I
(QG6XE
,IKRZHYHUZHGRDGGWKLVPHVVDJHORRSWRWKHDSSOLFDWLRQERWKPHVVDJHORRSVZLOOEH
ZRUNLQJLQSDUDOOHOWRSXOOPHVVDJHVRIIWKHPHVVDJHTXHXHSURFHVVWKHPDQGGLVSDWFKWKHP
WRWKHFRUUHFWZLQGRZ6\QFKURQL]DWLRQLVQRWDSUREOHPEHFDXVHERWKPHVVDJHORRSVDUH
UXQQLQJLQWKHVDPHWKUHDG$WKUHDGH[HFXWHVFRGHRQHOLQHDWDWLPH7KHUHIRUHRQO\RQH
PHVVDJHORRSFDQEHUHPRYLQJPHVVDJHVIURPWKHTXHXHDQGGLVSDWFKLQJWKHPDWDQ\RQH
WLPH
'R:KLOH*HW0HVVDJHVWUXFW0VJ
,I1RW7UDQVODWH$FFHOHUDWRUVWUXFW0VJKZQGVWUXFW$FFHOVWUXFW0VJ 7KHQ
/RRS
,I1RW,V'LDORJ0HVVDJHPBKZQG0RGDO'OJVWUXFW0VJ 7KHQ
(QG,I
(QG,I
&DOO7UDQVODWH0HVVDJHVWUXFW0VJ &DOO'LVSDWFK0HVVDJHVWUXFW0VJ
0DQ\WLPHVPHVVDJHORRSVLQDQDSSOLFDWLRQDUHZULWWHQZLWKRXWFDOOLQJWKH,V'LDORJ0HVVDJH
DQG7UDQVODWH$FFHOHUDWRUIXQFWLRQV,QWKHFDVHRIRXUVDPSOHDSSOLFDWLRQWKHVHIXQFWLRQVDUH
SURYLGHGLQWKHPHVVDJHORRSIRUFRPSOHWHQHVV7KH,V'LDORJ0HVVDJHIXQFWLRQLVXVHGWR
SURFHVVNH\VWURNHVIRUDOOQRQPRGDOGLDORJER[HV:LQGRZVGRHVQRWDXWRPDWLFDOO\GRWKLV
SURFHVVLQJIRUQRQPRGDOGLDORJV7KH7UDQVODWH$FFHOHUDWRUIXQFWLRQDOORZVPHQXDFFHOHUDWRU
NH\VWURNHVWREHSURFHVVHG,IDQDFFHOHUDWRUWDEOHUHVRXUFHLVORDGHGWKLVIXQFWLRQZLOO
SURFHVVWKHVHNH\VWURNHVDVZHOO$SSOLFDWLRQVWKDWGRQRWXVHDQ\DFFHOHUDWRUNH\VWURNHV
DQGGRQRWKDYHDQ\QRQPRGDOGLDORJER[HVVXFKDVRXUVDPSOHDSSOLFDWLRQ GRQRWQHHGWR
FDOOHLWKHURIWKHVHWZRIXQFWLRQV &ODVVFUHDWLRQ
7KH:1'&/$66(;VWUXFWXUHPDNHVXSHYHU\ZLQGRZFODVV$OOWKHEDVLFLQIRUPDWLRQQHHGHG
WRFUHDWHDQ\W\SHRIZLQGRZLQFOXGLQJZLQGRZVGLDORJER[HVFRQWUROVHWFLVFRQWDLQHG
ZLWKLQWKLVVWUXFWXUH
7RFUHDWHDVXSHUFODVVIURPDEDVHZLQGRZFODVVZHILUVWQHHGWRFDOOWKH*HW&ODVV,QIR([
IXQFWLRQWRH[WUDFWWKHLQIRUPDWLRQIURPWKHEDVHZLQGRZFODVVVWUXFWXUH:HWKHQFDQXVHWKH
LQIRUPDWLRQIURPWKLVIXQFWLRQWRFUHDWHWKHVXSHUFODVV*HW&ODVV,QIR([LVGHILQHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ*HW&ODVV,QIR([/LEXVHU$OLDV*HW&ODVV,QIR([$B
,WVSDUDPHWHUVDUH
%\9DOK,QVWDQFH$V/RQJ%\9DOOS&ODVV1DPH$V6WULQJB
OS:QG&ODVV$V:1'&/$66(; $V/RQJ
K,QVWDQFH
+DQGOHWRWKHDSSOLFDWLRQLQVWDQFHWKDWFUHDWHGWKHFODVV7KLVDUJXPHQWLV18//LI
WKHV\VWHPFUHDWHGWKHFODVVV\VWHPZLGHFODVV
OS&ODVV1DPH
7KHQDPHRUFODVVDWRPRIDUHJLVWHUHGFODVV
OS:QG&ODVV
3RLQWHUWRD:1'&/$66(;VWUXFWXUHZKLFKLVSDVVHGEDFNWRWKHFDOOLQJIXQFWLRQ
7KLVIXQFWLRQUHWXUQVDQRQ]HURYDOXHLILWVXFFHVVIXOO\UHWXUQVDZLQGRZFODVVVWUXFWXUH,W UHWXUQVD]HURLIWKHIXQFWLRQIDLOV
7KH:1'&/$66(;VWUXFWXUHFRQWDLQVVHYHUDOLWHPVRISDUWLFXODULQWHUHVWVSHFLILFDOO\WKH LQVWDQFHKDQGOHK,QVWDQFH WKHPHQXQDPHOS0HQX1DPH DQGWKHFODVVQDPH
OS&ODVV1DPH PHPEHUVIURPWKHEDVHZLQGRZFODVVVWUXFWXUH7KHVHPHPEHUVPXVWEH
PRGLILHGWRFUHDWHWKHVXSHUFODVV
7KHK,QVWDQFHPHPEHUUHTXLUHVWKHLQVWDQFHKDQGOHRIWKHDSSOLFDWLRQ$SSK,QVWDQFH ZKLFK
FUHDWHVDQGUHJLVWHUVWKLVQHZFODVV7KHOSV]0HQX1DPHPHPEHUFRQWDLQVWKHQDPHRIWKH
GHIDXOWPHQXUHVRXUFHWKDWLVSURYLGHGIRUHYHU\ZLQGRZFUHDWHGIURPWKLVEDVHFODVVRUHOVH
LWFRQWDLQV18//WRVLJQLI\WKDWQRPHQXH[LVWV7KLVPHQXUHVRXUFHPXVWEHFRQWDLQHGZLWKLQ
WKHDSSOLFDWLRQFUHDWLQJWKHQHZFODVV%HFDXVHDPHQXUHVRXUFHIRUDV\VWHPZLGHEDVH
FODVVPLJKWQRWEHDYDLODEOHWRWKHDSSOLFDWLRQZHPXVWDVVLJQDQHZUHVRXUFHQDPHWRWKH
OSV]0HQX1DPHPHPEHU)LQDOO\WKHOSV]&ODVV1DPHPHPEHUPXVWFRQWDLQDXQLTXHQDPH
LGHQWLI\LQJWKHQHZFODVV7KLVQDPHQHHGVWREHXQLTXHRQO\ZLWKLQWKHDSSOLFDWLRQWKDW
FUHDWHGDQGUHJLVWHUHGLW8VLQJWKHUHWXUQHGEDVHFODVVQDPHZLOOFDXVHUHJLVWUDWLRQRIWKLV
QHZFODVVWRIDLOEHFDXVHRIDGXSOLFDWHFODVVQDPH
$VZH YHPHQWLRQHGWKHILUVWFODVVWKDWWKHDSSOLFDWLRQVXSHUFODVVHVLV7KXQGHU57)RUP'&
WKH9%IRUP7KH5HJLVWHU)RUP&ODVVIXQFWLRQVKRZQLQ([DPSOHSHUIRUPVWKLVWDVN ([DPSOH7KH5HJLVWHU)RUP&ODVV)XQFWLRQ 3ULYDWH)XQFWLRQ5HJLVWHU)RUP&ODVV $V%RROHDQ 'LPVWUXFW2ULJ:LQ&ODVV$V:1'&/$66(;
'LPVWUXFW:LQ&ODVV$V:1'&/$66(;
'LPOUHWYDO$V/RQJ
'LPV&ODVV1DPH$V6WULQJ
'LPO5HW/HQJWK$V/RQJ
'LPP\K,QVW$V/RQJ
O5HW/HQJWK *HW&ODVV1DPH)RUPKZQGV&ODVV1DPH
P\K,QVW *HW&ODVV/RQJ)RUPKZQG*&/B+02'8/(
OUHWYDO *HW&ODVV,QIR([P\K,QVW/HIWV&ODVV1DPHO5HW/HQJWK B
VWUXFW2ULJ:LQ&ODVV
,IOUHWYDO 7KHQ
0VJ%R[(UURULQJHWWLQJRULJLQDOIRUPFODVVLQIRUPDWLRQ (UU/DVW'OO(UURU 5HJLVWHU)RUP&ODVV )DOVH
(OVH
*HWDFRS\RILWVHOHPHQWV
&RS\0HPRU\VWUXFW:LQ&ODVVVWUXFW2ULJ:LQ&ODVV/HQ%VWUXFW2ULJ:LQ&ODVV
*HWRULJLQDOIRUPZLQGRZSURFHGXUHDQGVDYHLW
PB2ULJ:LQ3URF VWUXFW:LQ&ODVVOSIQ:QG3URF
3ODFHWKHRULJLQDOHOHPHQWYDOXHVLQWRWKHQHZVXSHUFODVVHGIRUPFODVV
:LWKVWUXFW:LQ&ODVV
FE6L]H /HQ%VWUXFW:LQ&ODVV
OSV]&ODVV1DPH :LQGRZ&ODVV1DPH
:LQGRZSURFHGXUHDGGUHVV
OSIQ:QG3URF *HW3URF$GGU$GGUHVV2I0DLQ:QG3URF
K,QVWDQFH $SSK,QVWDQFH
K&XUVRU /RDG&XUVRU,'&B83$552:
(QG:LWK
5HJLVWHUWKLVFODVV
,I5HJLVWHU&ODVV([VWUXFW:LQ&ODVV !7KHQ
5HJLVWHU)RUP&ODVV 7UXH (OVH
5HJLVWHU)RUP&ODVV )DOVH (QG,I (QG,I
(QG)XQFWLRQ
,QPRVWFDVHV*HW&ODVV,QIR([FDQEHFDOOHGZLWKDOLWHUDOUHSUHVHQWLQJWKHFODVVQDPHLQWKH
VHFRQGDUJXPHQWRIWKHIXQFWLRQDVLQWKHIROORZLQJFRGHIUDJPHQW
OUHWYDO *HW&ODVV,QIR([$SSK,QVWDQFH%87721VWUXFW2ULJ%WWQ&ODVV
)RU9%FODVVHVWKLVLVQRWSRVVLEOHEHFDXVHWKHFODVVQDPHRID9%IRUPLV7KXQGHU ZKHQ
UXQQLQJLQWKH,'(DQG7KXQGHU57 ZKHQUXQQLQJDVDQH[HFXWDEOH&RQVHTXHQWO\ZHPXVW
ILUVWUHWULHYH9%FODVVQDPHVXVLQJWKH*HW&ODVV1DPH$3,IXQFWLRQ
O5HW/HQJWK *HW&ODVV1DPH)RUPKZQGV&ODVV1DPH
+HUHLVZKHUHWKH)RUPIRUPFRPHVLQWRSOD\8VLQJWKHKDQGOHRIWKLVIRUPZHDUHDEOHWR
UHWULHYHLWVFODVVQDPHZKLFKLVSODFHGLQWKHV&ODVV1DPHVWULQJYDULDEOH
1H[WZHPXVWUHWULHYHWKHLQVWDQFHKDQGOHRIWKHPRGXOHWKDWFUHDWHGWKHFODVV7KH
*HW&ODVV/RQJ$3,IXQFWLRQDOORZVXVWRJHWWKLVLQIRUPDWLRQ2QFHDJDLQWKHKDQGOHWR)RUP
LVHPSOR\HG
P\K,QVW *HW&ODVV/RQJ)RUPKZQG*&/B+02'8/(
,QVWHDGRIFDOOLQJ*HW&ODVV/RQJ\RXZRXOGH[SHFWWKDW\RXFRXOGVLPSO\UHWULHYHWKHLQVWDQFH
KDQGOHIURPWKH$SSREMHFW VK,QVWDQFHSURSHUW\DQGSDVVLWWR*HW&ODVV,QIR([%XWWKH
LQVWDQFHKDQGOHRIWKHPRGXOHWKDWFUHDWHGWKHFODVVLVGLIIHUHQWIURP$SSK,QVWDQFHZKHQDQ
DSSOLFDWLRQLVUXQQLQJDVDQH[HFXWDEOH7KH\DUHWKHVDPHZKHQUXQQLQJLQWKH,'(8VLQJ WKH'HSHQGHQF\:DONHUDSSOLFDWLRQWKDWVKLSVZLWK9LVXDO&ZHFDQVHHWKDWWKH(;(
PRGXOHIRUWKHH[DPSOHDSSOLFDWLRQKDVDQK,QVWDQFHRI +DQGWKDW
069%90'//KDVDQK,QVWDQFHRI +7KHEDVHFODVV VK,QVWDQFHPHPEHU
VLJQLILHVZKLFKPRGXOHFUHDWHGWKLVFODVV,QWKLVFDVHWKH069%90'//PRGXOHFUHDWHG
LW7KLVLVDOVRWKHPRGXOHZKHUHLWVFODVVZLQGRZSURFHGXUHUHVLGHV069%90'//LVWKH
9%YLUWXDOPDFKLQH7KLVILOHPXVWH[LVWRQWKHPDFKLQHLILWLVWRUXQD9%DSSOLFDWLRQ
6RPHRIWKHLWHPVFRQWDLQHGZLWKLQWKLV'//DUHWKHFRQWUROVLQWULQVLFWR9%WKHFRGHWKDW
FUHDWHVWKH7KXQGHU FODVVHVDQGPDQ\RWKHUIXQFWLRQVXVHGE\D9%DSSOLFDWLRQ
,I$SSK,QVWDQFHKDGEHHQXVHGLQWKHK,QVWDQFHDUJXPHQWWR*HW&ODVV,QIR([WKHIXQFWLRQ
ZRXOGKDYHUHWXUQHGDQHUURU7KLVLVEHFDXVHWKHIXQFWLRQZRXOGKDYHORRNHGLQWKHZURQJ
PRGXOHIRUWKHFODVVGHILQLWLRQ,WZRXOGKDYHORRNHGLQWKH(;(PRGXOHLQVWHDGRIWKH
069%90'//PRGXOH
8VLQJ*HW&ODVV,QIR([ZHFDQREWDLQWKHFODVVLQIRUPDWLRQ7KHLQVWDQFHKDQGOHP\K,QVWLV
XVHGDVWKHILUVWDUJXPHQWDQGV&ODVV1DPHLVXVHGDVWKHVHFRQGDUJXPHQW
OUHWYDO *HW&ODVV,QIR([P\K,QVW/HIWV&ODVV1DPHO5HW/HQJWK VWUXFW2ULJ:LQ&ODVV
7KLVIXQFWLRQUHWXUQVWKH7KXQGHU57)RUP'&FODVVLQIRUPDWLRQLQWKHVWUXFW2ULJ:LQ&ODVV
YDULDEOHZKLFKLVDSRLQWHUWRWKH:1'&/$66(;VWUXFWXUH&RS\0HPRU\LVXVHGWRFRS\LQWR
WKHVWUXFW:LQ&ODVVYDULDEOHWKHVWUXFWXUHWKDWWKLVSRLQWHUSRLQWVWR7KLVLVRXUVXSHUFODVV
1RZWKDWZHKDYHWKH:1'&/$66(;VWUXFWXUHIRUWKHFODVVZHQHHGWRPDNHVRPH
PRGLILFDWLRQVWRLW
:LWKVWUXFW:LQ&ODVV
FE6L]H /HQ%VWUXFW:LQ&ODVV
OSV]&ODVV1DPH 1HZ0DLQ:QG&ODVV
OSIQ:QG3URF *HW3URF$GGU$GGUHVV2I0DLQ:QG3URF :LQGRZSURFHGXUH
K,QVWDQFH $SSK,QVWDQFH
DGGUHVV
(QG:LWK
K&XUVRU /RDG&XUVRU,'&B83$552:
)LUVWWKHVL]HLVUHFDOFXODWHGDQGSODFHGLQWKHFE6L]HPHPEHU$XQLTXHQDPHPXVWEH
SODFHGLQWKHOSV]&ODVV1DPHPHPEHUIRUWKLVFODVVWRUHJLVWHUZLWKWKHV\VWHPSURSHUO\7KLV
QHZFODVVLVQDPHG1HZ0DLQ:QG&ODVV7KHIRUHPRVWUHDVRQWRXVHVXSHUFODVVLQJLVWR
VXEVWLWXWHRXUVXSHUFODVVSURFHGXUHIRUWKDWRIWKHGHIDXOWZLQGRZSURFHGXUH:HDFFRPSOLVK
WKLVE\SODFLQJWKHIXQFWLRQSRLQWHUWRRXUVXSHUFODVVSURFHGXUH0DLQ:QG3URFZKLFKLV
VKRZQLQ([DPSOH LQWKHOSIQ:QG3URFPHPEHU:HGRWKLVWKURXJKWKH*HW3URF$GGU IXQFWLRQZKLFKLVGHILQHGDVIROORZV
)XQFWLRQ*HW3URF$GGUHVVO)XQFWLRQ$GGUHVVDVORQJ
*HW3URF$GGUHVV O)XQFWLRQ$GGUHVV
(QG)XQFWLRQ
7KHK,QVWDQFHLVFKDQJHGWRRXUDSSOLFDWLRQ VLQVWDQFHKDQGOHXVLQJ$SSK,QVWDQFH
$SSK,QVWDQFHKROGVWKHLQVWDQFHKDQGOHWRWKH(;(PRGXOHRIRXUDSSOLFDWLRQ
+ 7KHFODVVXVHVWKLVLQVWDQFHKDQGOHWRGHWHUPLQHLQZKLFKPRGXOHWRORRNIRU
WKHVXSHUFODVVSURFHGXUH7KHUHIRUHLWPXVWEHWKHDSSOLFDWLRQ VLQVWDQFHKDQGOHEHFDXVH WKDWLVZKHUHWKHVXSHUFODVVSURFHGXUHLVORFDWHG
7KHODVWLWHPPRGLILHGLVWKHK&XUVRUPHPEHU:HGRQRWKDYHWRPRGLI\WKLVPHPEHU)RU
WKLVH[DPSOH,ZDQWHGHYHU\ZLQGRZFUHDWHGIURPWKLVFODVVWRXVHWKHXSDUURZPRXVH
SRLQWHUDVLWVGHIDXOW:HDOVRFDQPRGLI\RWKHUPHPEHUVRIWKHFODVVVWUXFWXUHVXFKDVWKH
VW\OHPHPEHUWRFKDQJHWKHORRNRUIHHORIWKHZLQGRZ
7ZRPHPEHUVWKDWZHPXVWKDQGOHFDUHIXOO\DUHFE&OV([WUDDQGFE:QG([WUD7KHVHWZR
PHPEHUVFRQWDLQH[WUDLQIRUPDWLRQLQE\WHIRUPDW IRUWKHFODVVDQGDQ\ZLQGRZFUHDWHGIURP
WKDWFODVVUHVSHFWLYHO\:HFDQDGGH[WUDE\WHVWRWKHVHWZRPHPEHUVEXWZHFDQQRWWDNH
WKHPDZD\5HPRYLQJWKLVLQIRUPDWLRQIURPWKHFODVVVWUXFWXUHPLJKWFDXVHXQSUHGLFWDEOH
EHKDYLRUGHSHQGLQJRQWKHRULJLQDOXVHRIWKHH[WUDZLQGRZRUFODVVE\WHV
/DVWO\ZHUHJLVWHUWKHQHZFODVVZLWKWKHV\VWHPE\XVLQJWKH5HJLVWHU&ODVV([IXQFWLRQ7KLV
IXQFWLRQLVGHILQHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ5HJLVWHU&ODVV([/LEXVHU$OLDV5HJLVWHU&ODVV([$B
SF:QG&ODVV([$V:1'&/$66(; $V,QWHJHU
:KHQZHFDOO5HJLVWHU&ODVV([ZHSODFHWKHQHZFODVVVWUXFWXUHLQWKHSF:QG&ODVV([
DUJXPHQWRIWKH5HJLVWHU&ODVV([IXQFWLRQ
,I5HJLVWHU&ODVV([VWUXFW:LQ&ODVV !7KHQ
,IWKLVFDOOLVVXFFHVVIXOWKHQHZFODVVLVUHJLVWHUHGZLWKWKHV\VWHPDQGDXQLTXHLQWHJHU
LGHQWLI\LQJWKHQHZFODVVFDOOHGDFODVVDWRPLVUHWXUQHG7KHUHJLVWHUHGFODVVLVQRZUHDG\
WREHXVHGWRFUHDWHQHZZLQGRZV
1H[WZHQHHGWRVXSHUFODVVWKH%87721FODVV:HGRWKLVLQWKH5HJLVWHU%XWWRQ&ODVV
IXQFWLRQVKRZQLQ([DPSOH5HWULHYLQJWKH%87721FODVVVWUXFWXUHLVPRUH
VWUDLJKWIRUZDUGWKDQUHWULHYLQJWKH7KXQGHU57)RUP'&FODVV7KLVLVEHFDXVH%87721LVD
V\VWHPZLGHFODVV7KHV\VWHPUHJLVWHUVWKLVFODVVIRUXVHE\DOODSSOLFDWLRQVDQGEHFDXVHRI
WKLVWKH%87721FODVVKDVDQK,QVWDQFHRI18//:KHQFDOOLQJWKH*HW&ODVV,QIR([IXQFWLRQ
WKHILUVWDUJXPHQWK,QVWDQFHFDQEH18//RU]HURWRVLJQLI\WKDWWKLVLVDV\VWHPZLGHFODVV ([DPSOH7KH5HJLVWHU%XWWRQ&ODVV)XQFWLRQ 3ULYDWH)XQFWLRQ5HJLVWHU%XWWRQ&ODVV $V%RROHDQ 'LPVWUXFW2ULJ%WWQ&ODVV$V:1'&/$66(;
'LPVWUXFW%WWQ6XSHU&ODVV$V:1'&/$66(;
'LPOUHWYDO$V/RQJ
*HWRULJLQDO:LQGRZ VEXWWRQFODVV
OUHWYDO *HW&ODVV,QIR([%87721VWUXFW2ULJ%WWQ&ODVV
,IOUHWYDO 7KHQ
0VJ%R[(UURULQJHWWLQJRULJLQDOEXWWRQFODVVLQIRUPDWLRQ
5HJLVWHU%XWWRQ&ODVV )DOVH
(OVH
*HWDFRS\RILWVHOHPHQWV
&RS\0HPRU\VWUXFW%WWQ6XSHU&ODVVVWUXFW2ULJ%WWQ&ODVVB
/HQ%VWUXFW2ULJ%WWQ&ODVV
*HWRULJLQDOEXWWRQZLQGRZSURFHGXUHDQGVDYHLW
PB2ULJ%WWQ:LQ3URF VWUXFW%WWQ6XSHU&ODVVOSIQ:QG3URF
3ODFHWKHRULJLQDOHOHPHQWYDOXHVLQWRWKHQHZVXSHUFODVVHGEXWWRQFODVV
:LWKVWUXFW%WWQ6XSHU&ODVV
FE6L]H /HQ%VWUXFW%WWQ6XSHU&ODVV
OSV]&ODVV1DPH 1HZ%WWQ&ODVV
K,QVWDQFH $SSK,QVWDQFH
OSIQ:QG3URF *HW3URF$GGU$GGUHVV2I%XWWRQ:QG3URF
(QG:LWK
5HJLVWHUWKHFODVV
,I5HJLVWHU&ODVV([VWUXFW%WWQ6XSHU&ODVV !7KHQ
5HJLVWHU%XWWRQ&ODVV 7UXH (OVH
5HJLVWHU%XWWRQ&ODVV )DOVH (QG,I (QG,I
(QG)XQFWLRQ
:HXVH&RS\0HPRU\WRFRQYHUWWKHVWUXFW2ULJ%WWQ&ODVVSRLQWHUWRDVWUXFWXUH7KHRULJLQDO
FODVVVWUXFWXUHLVVWRUHGLQWKHVWUXFW%WWQ6XSHU&ODVVYDULDEOH2QFHDJDLQWKHOSIQ:QG3URF
SRLQWHURIWKHRULJLQDOFODVVVWUXFWXUHLVVDYHGLQWKHPB2ULJ%WWQ:LQ3URFYDULDEOH PB2ULJ%WWQ:LQ3URF VWUXFW%WWQ6XSHU&ODVVOSIQ:QG3URF
7KHFE6L]HOSV]&ODVV1DPHK,QVWDQFHDQGOSIQ:QG3URFPHPEHUVDOVRDUHPRGLILHGDV
IROORZV
:LWKVWUXFW%WWQ6XSHU&ODVV
FE6L]H /HQ%VWUXFW%WWQ6XSHU&ODVV
K,QVWDQFH $SSK,QVWDQFH
(QG:LWK
OSV]&ODVV1DPH 1HZ%WWQ&ODVV
OSIQ:QG3URF *HW3URF$GGU$GGUHVV2I%XWWRQ:QG3URF
7KHQDPHIRUWKLVQHZFODVVLV1HZ%WWQ&ODVV7KHRWKHUPHPEHUVDUHPRGLILHGVLPLODUWRWKH
7KXQGHU57)RUP'&VXSHUFODVV/DVWO\WKHFODVVLVUHJLVWHUHG :LQGRZFUHDWLRQ
1RZWKDWZHKDYHRXUUHJLVWHUHGFODVVHVIURPWKHFRGHSUHVHQWHGLQWKHSUHYLRXVVHFWLRQZH
FDQFUHDWHZLQGRZVIURPWKHP7KHFRGHLQWKH&UHDWH0DLQ:LQGRZIXQFWLRQVKRZQLQ
([DPSOHFDOOVWKH&UHDWH:LQGRZ([IXQFWLRQWRFUHDWHDZLQGRZIURPWKH
1HZ0DLQ:QG&ODVVVXSHUFODVV
([DPSOH7KH&UHDWH0DLQ:LQGRZ)XQFWLRQ 3ULYDWH)XQFWLRQ&UHDWH0DLQ:LQGRZ $V%RROHDQ
&UHDWHPDLQZLQGRZ
PBKZQG0DLQ &UHDWH:LQGRZ([1HZ0DLQ:QG&ODVV0DLQ:LQGRZB
:6B29(5/$33(':,1'2:&:B86('()$8/7&:B86('()$8/7B $SSK,QVWDQFH%\9DO
,IPBKZQG0DLQ!7KHQ 6KRZPDLQZLQGRZ
&DOO6KRZ:LQGRZPBKZQG0DLQ6:B6+2:1250$/
&UHDWH0DLQ:LQGRZ 7UXH (OVH
0VJ%R[0DLQZLQGRZFRXOGQRWEHFUHDWHG
&UHDWH0DLQ:LQGRZ )DOVH (QG,I
(QG)XQFWLRQ
7KHDFWXDOZLQGRZFUHDWLRQLQ([DPSOHLVSHUIRUPHGE\WKH&UHDWH:LQGRZ([IXQFWLRQ
7KHGHFODUDWLRQIRU&UHDWH:LQGRZ([LVDVIROORZV
3XEOLF'HFODUH)XQFWLRQ&UHDWH:LQGRZ([/LEXVHU$OLDV&UHDWH:LQGRZ([$B
%\9DOGZ([6W\OH$V/RQJ%\9DOOS&ODVV1DPH$V6WULQJB
%\9DOOS:LQGRZ1DPH$V6WULQJ%\9DOGZ6W\OH$V/RQJB
%\9DOQ+HLJKW$V/RQJ%\9DOK:QG3DUHQW$V/RQJB
/RQJ
%\9DO[$V/RQJ%\9DO\$V/RQJ%\9DOQ:LGWK$V/RQJB
%\9DOK0HQX$V/RQJ%\9DOK,QVWDQFH$V/RQJOS3DUDP$V$Q\ $V
7KHIXQFWLRQKDVWKHIROORZLQJSDUDPHWHUV GZ([6W\OH
2QHRUPRUHRIWKHIROORZLQJH[WHQGHGVW\OHVRIWKHZLQGRZ25HGWRJHWKHU WS_EX_APPWINDOW $WRSOHYHOZLQGRZLVSODFHGRQWKHWDVNEDUZKHQWKHZLQGRZLVYLVLEOH WS_EX_CLIENTEDGE 6SHFLILHVDZLQGRZZLWKDERUGHUDQGDVXQNHQHGJH WS_EX_DLGMODALFRAME 6SHFLILHVDZLQGRZZLWKDGRXEOHERUGHU WS_EX_NOACTIVATE
8VHGLQ:LQGRZVWRVSHFLI\DZLQGRZWKDWDXVHUFDQQRWFDXVHWREHFRPHWKH
IRUHJURXQGZLQGRZ WS_EX_NOPARENTNOTIFY
6SHFLILHVDFKLOGZLQGRZWKDWGRHVQRWVHQGWKH:0B3$5(17127,)<PHVVDJHWR
LWVSDUHQWZLQGRZ WS_EX_OVERLAPPEDWINDOW
(TXLYDOHQWWR:6B(;B&/,(17('*(25:6B(;B:,1'2:('*( WS_EX_STATICEDGE
6SHFLILHVDZLQGRZWKDWKDVDWKUHHGLPHQVLRQDOERUGHUEXWGRHVQRWWDNHXVHULQSXW
WS_EX_TOPMOST
6SHFLILHVDZLQGRZWKDWVKRXOGDOZD\VEHSODFHGRQWRSRIRWKHUZLQGRZVWKDWDUHVHW
WREHWRSPRVWZLQGRZV WS_EX_WINDOWEDGE
6SHFLILHVDZLQGRZZLWKDERUGHUDQGDUDLVHGHGJH
OS&ODVV1DPH
$VWULQJFRQWDLQLQJWKHQDPHRIWKHFODVVIURPZKLFKWKLVZLQGRZLQKHULWV
OS:LQGRZ1DPH GZ6W\OH
$VWULQJGLVSOD\HGLQWKHWLWOHEDURIWKHZLQGRZ
2QHRUPRUHRIWKHIROORZLQJZLQGRZVW\OHVRUFRQWUROVW\OHV25HGWRJHWKHU WS_BORDER 6SHFLILHVDZLQGRZZLWKDWKLQOLQHERUGHU WS_CAPTION 6SHFLILHVDZLQGRZZLWKDWLWOHEDU WS_CLIPCHILDREN
6SHFLILHVDZLQGRZWKDWGRHVQRWSDLQWWKHDUHDWKDWFRQWDLQVDFKLOGZLQGRZ WS_CLIPSIBLINGS
6SHFLILHVDZLQGRZWKDWGRHVQRWSDLQWDOORYHUODSSLQJFKLOGZLQGRZVRXWVLGHWKH
UHJLRQRIWKHFKLOGZLQGRZV FOLHQWDUHD WS_DLGFRAME
6SHFLILHVDZLQGRZZLWKDGLDORJER[ERUGHUDQGQRFDSWLRQ WS_MINIMIZE 7KHZLQGRZLVFUHDWHGLQDPLQLPL]HGVWDWH WS_MINIMIZEBOX
6SHFLILHVDZLQGRZZLWKDPLQLPL]HEXWWRQLQWKHWLWOHEDU WS_MAXIMIZE 7KHZLQGRZLVFUHDWHGLQDPD[LPL]HGVWDWH WS_MAXIMIZEBOX
6SHFLILHVDZLQGRZZLWKDPD[LPL]HEXWWRQLQWKHWLWOHEDU WS_OVERLAPPED 6SHFLILHVDZLQGRZZLWKDWLWOHEDUDQGDERUGHU WS_OVERLAPPEDWINDOW
(TXLYDOHQWWR:6B29(5/$33('25:6B&$37,2125:6B6<60(1825
:6B7+,&.)5$0(25:6B0,1,0,=(%2;25:6B0$;,0,=(%2; WS_POPUP 6SHFLILHVDSRSXSZLQGRZ WS_POPUPWINDOW
6SHFLILHVDSRSXSZLQGRZZLWKWKHVW\OHV:6B%25'(525:6B3238325
:6B6<60(1825:6B&$37,21 WS_SYSMENU
6SHFLILHVDZLQGRZFRQWDLQLQJDZLQGRZPHQXRQLWVWLWOHEDU WS_THICKFRAME 6SHFLILHVDZLQGRZZLWKDVL]LQJERUGHU WS_TILED 6DPHDV:6B29(5/$33('
WS_TILEDWINDOW
6DPHDV:6B29(5/$33(':,1'2: WS_VISIBLE [ \ Q:LGWK Q+HLJKW
6SHFLILHVDZLQGRZWKDWLVLQLWLDOO\YLVLEOH
7KHSRVLWLRQRIWKHZLQGRZZLWKUHVSHFWWRWKHOHIWVLGHRIWKHVFUHHQ 7KHSRVLWLRQRIWKHZLQGRZZLWKUHVSHFWWRWKHWRSRIWKHVFUHHQ 7KHZLGWKRIWKHZLQGRZ 7KHKHLJKWRIWKHZLQGRZ
K:QG3DUHQW K0HQX
+DQGOHWRWKHSDUHQWRURZQHUZLQGRZWRWKLVZLQGRZ
+DQGOHWRWKHPHQXWKDWLVXVHGE\WKLVZLQGRZ
K,QVWDQFH
+DQGOHRIWKHPRGXOHLQVWDQFHWREHDVVRFLDWHGZLWKWKLVZLQGRZ
OS3DUDP
3RLQWHUWRDYDOXHWKDWFDQEHSDVVHGLQWRWKHZLQGRZWKURXJKWKH&5($7(6758&7
VWUXFWXUH
,IWKLVIXQFWLRQVXFFHHGVLQFUHDWLQJWKHZLQGRZDKDQGOHWRWKDWZLQGRZLVUHWXUQHG
RWKHUZLVHD]HURLVUHWXUQHG
,QWKHFDOOWR&UHDWH:LQGRZ([LQ([DPSOHZHGHILQHWKHQHZZLQGRZ VFDSWLRQWREH 0DLQ:LQGRZDV)LJXUHVKRZV
7KHOS&ODVV1DPHDUJXPHQWUHFHLYHVWKHVDPHYDOXHSODFHGLQWKHOSV]&ODVV1DPHPHPEHU
RIWKH:1'&/$66(;VWUXFWXUH7KHK,QVWDQFHDUJXPHQWLVLJQRUHGLQ:LQGRZV17DQG
:LQGRZV,I\RXDUHXVLQJ:LQGRZV[\RXQHHGWRVXSSO\WKHLQVWDQFHKDQGOHRIWKH
PRGXOHWKDWLVFUHDWLQJWKLVZLQGRZ)RURXUH[DPSOHZHFDQXVH$SSK,QVWDQFHIRUWKLV DUJXPHQW
7KHFRQVWDQW&:B86('()$8/7LQGLFDWHVWKDWWKHV\VWHPVKRXOGVHWWKHGHIDXOW[DQG\ FRRUGLQDWHVRIWKHQHZZLQGRZ:HDOVRFDQXVHWKLVFRQVWDQWLQWKHQ+HLJKWDQGQ:LGWK DUJXPHQWVWRDOORZWKHV\VWHPWRVHWWKHGHIDXOWKHLJKWDQGZLGWKRIWKHQHZZLQGRZ
$]HURLVSURYLGHGIRUWKHK:QG3DUHQWDUJXPHQW7KLVLQIRUPVWKHQHZZLQGRZWKDWLWKDVQR
SDUHQWRURZQLQJZLQGRZV
7KH6KRZ:LQGRZIXQFWLRQLVFDOOHGWRGLVSOD\WKHZLQGRZDIWHULWLVVXFFHVVIXOO\FUHDWHG
EHFDXVH&UHDWH:LQGRZ([GRHVQRWGRWKLVDXWRPDWLFDOO\7KHGHFODUDWLRQIRU6KRZ:LQGRZLV
DVIROORZV
3XEOLF'HFODUH)XQFWLRQ6KRZ:LQGRZ/LEXVHUB
%\9DOKZQG$V/RQJ%\9DOQ&PG6KRZ$V/RQJ $V/RQJ
6KRZ:LQGRZKDVWKHIROORZLQJSDUDPHWHUV KZQG
7KHZLQGRZKDQGOH
Q&PG6KRZ
6SHFLILHVKRZWKHZLQGRZLVGLVSOD\HG,WFDQEHRQHRIWKHIROORZLQJFRQVWDQWV SW_FORCEMINIMIZE 'LVSOD\VDPLQLPL]HGZLQGRZHYHQLIWKHWKUHDGWKDWRZQVWKHZLQGRZLVKXQJ SW_HIDE +LGHVWKHZLQGRZDQGDFWLYDWHVDQRWKHUZLQGRZ SW_MAXIMIZE 'LVSOD\VDPD[LPL]HGZLQGRZ SW_MINIMIZE 'LVSOD\VDPLQLPL]HGZLQGRZ SW_RESTORE
'LVSOD\VDZLQGRZLQLWVUHVWRUHGVWDWH SW_SHOW $FWLYDWHVDZLQGRZ SW_SHOWMAXIMIZED
$FWLYDWHVDQGPD[LPL]HVWKHZLQGRZ SW_SHOWMINIMIZED $FWLYDWHVDQGPLQLPL]HVWKHZLQGRZ SW_SHOWMINNOACTIVE
'LVSOD\VDPLQLPL]HGZLQGRZEXWGRHVQRWDFWLYDWHLW SW_SHOWNA 'LVSOD\VDZLQGRZEXWGRHVQRWDFWLYDWHLW SW_SHOWNORMAL
$FWLYDWHVDQGGLVSOD\VDZLQGRZ,IWKHZLQGRZLVPLQLPL]HGRUPD[LPL]HGLWLVILUVW
UHVWRUHG SW_SHOWNOACTIVATE
6DPHDV6:B6+2:1250$/EXWWKHZLQGRZLVQRWDFWLYDWHG
7KHUHWXUQYDOXHRIWKLVIXQFWLRQLV]HURLIWKHZLQGRZZDVSUHYLRXVO\KLGGHQ,IWKHZLQGRZ
ZDVSUHYLRXVO\YLVLEOHWKHUHWXUQYDOXHLVQRQ]HUR
:HFUHDWHWKHEXWWRQFRQWUROFUHDWHGIURPWKH1HZ%WWQ&ODVVVXSHUFODVVLQDVLPLODUZD\7KH
&UHDWH6XSHU&OV%WWQIXQFWLRQVKRZQLQ([DPSOHFUHDWHVWKLVFRQWURO7KHEXWWRQFRQWURO KDVDFDSWLRQRI&OLFN0HDQGLVFRQWDLQHGZLWKLQWKHZLQGRZFUHDWHGIURPWKH
1HZ0DLQ:QG&ODVVVXSHUFODVVDV)LJXUHVKRZV7KHZLQGRZVW\OH:6B&+,/'PHDQV WKDWWKLVFRQWUROZLOOEHDFKLOGRIWKHSDUHQWZLQGRZZKRVHK:QGLVVHWLQWKHK:QG3DUHQW
DUJXPHQWRIWKH&UHDWH:LQGRZ([IXQFWLRQ7KHK:QG3DUHQWDUJXPHQWFRQWDLQVWKHKDQGOHWR
WKHPDLQZLQGRZZKLFKZHFUHDWHGSUHYLRXVO\7KH%6B386+%87721VW\OHFUHDWHVDSXVK
EXWWRQLQVWHDGRIDQRWKHUEXWWRQW\SHVXFKDVWKHFKHFNER[VW\OHEXWWRQ7KLVEXWWRQFRQWURO
DOVRZLOOKDYHWKHVDPHK,QVWDQFHDVWKHDSSOLFDWLRQ ([DPSOH7KH&UHDWH6XSHU&OV%WWQ)XQFWLRQ
3ULYDWH)XQFWLRQ&UHDWH6XSHU&OV%WWQ $V%RROHDQ
&UHDWHVXSHUFODVVHGEXWWRQ
PBKZQG6&%WWQ &UHDWH:LQGRZ([1HZ%WWQ&ODVV&OLFN0HB
:6B&+,/'2U:6B9,6,%/(2U%6B386+%87721B
PBKZQG0DLQ$SSK,QVWDQFH
6KRZWKHEXWWRQ
,IPBKZQG6&%WWQ!7KHQ
&DOO6KRZ:LQGRZPBKZQG6&%WWQ6:B6+2:1250$/
&UHDWH6XSHU&OV%WWQ 7UXH (OVH
0VJ%R[6XSHUFODVVHGEXWWRQFRXOGQRWEHFUHDWHG &UHDWH6XSHU&OV%WWQ )DOVH
(QG,I
(QG)XQFWLRQ
$IWHUWKLVFRQWUROLVVXFFHVVIXOO\FUHDWHGLWLVGLVSOD\HGRQLWVSDUHQWZLQGRZWKURXJKWKHFDOO
WR6KRZ:LQGRZ
7KHVXSHUFODVVSURFHGXUHV )LQDOO\ZHQHHGWRFUHDWHWKHZLQGRZSURFHGXUHVWKDWDUHDVVRFLDWHGZLWKRXUVXSHUFODVVHV
6XFKDZLQGRZSURFHGXUHLVQRUPDOO\UHIHUUHGWRDVWKHVXSHUFODVVSURFHGXUH7KHILUVW
VXSHUFODVVSURFHGXUHLVIRUWKH1HZ0DLQ:QG&ODVVVXSHUFODVVDQGLVVKRZQLQ([DPSOH
([DPSOH7KH0DLQ:QG3URF:LQGRZ3URFHGXUH 3XEOLF)XQFWLRQ0DLQ:QG3URF%\9DOKZQG$V/RQJ%\9DOX0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
'LP&RXQW$V/RQJ
6HOHFW&DVHX0VJ
&DVH:0B/%87721'2:1
0VJ%R[:LQGRZ KZQG ZDVFOLFNHG
&DVH:0B'(6752<
,IZHDUHGHVWUR\LQJWKHPDLQZLQGRZ
WKHQZHZLOOZDQWWRHQGWKHDSSOLFDWLRQ
,IKZQG PBKZQG0DLQ7KHQ
)RU&RXQW 7R8%RXQGPB&UHDWHG:QG+DQGOHV 'HVWUR\:LQGRZPB&UHDWHG:QG+DQGOHV&RXQW
1H[W
([LWWKHPHVVDJHORRSDQG6WRSWKHDSSOLFDWLRQ &DOO3RVW4XLW0HVVDJH (QG,I
([LW)XQFWLRQ (QG6HOHFW
/HWWKHPDLQZLQGRZEHKDYHDVDQRUPDOZLQGRZ
0DLQ:QG3URF 'HI:LQGRZ3URFKZQGX0VJZ3DUDPO3DUDP
(QG)XQFWLRQ
7KLVIXQFWLRQWUDSVWZRPHVVDJHV,WFKDQJHVWKH:0B/%87721'2:1PHVVDJHEHKDYLRU
WRGLVSOD\DPHVVDJHER[FRQWDLQLQJWKHKDQGOHRIWKHZLQGRZWKDWZDVFOLFNHG7KH
:0B'(6752<PHVVDJHEHKDYLRULVPRGLILHGDVZHOO7KLVPHVVDJHPRGLILFDWLRQLVYHU\ LPSRUWDQWWRWKLVDSSOLFDWLRQIRULWWRVKXWGRZQSURSHUO\,IDZLQGRZRWKHUWKDQWKHPDLQ
ZLQGRZZKLFKKDVWKH0DLQ:LQGRZFDSWLRQ LVEHLQJFORVHGWKHGHIDXOWZLQGRZSURFHGXUH
VLPSO\FORVHVRQO\WKDWZLQGRZ,IKRZHYHUWKHPDLQZLQGRZLVEHLQJFORVHGWKLVPHVVDJH
ZLOOILUVWGHVWUR\DOOZLQGRZVFUHDWHGIURPWKH1HZ0DLQ:QG&ODVVVXSHUFODVV:HDFFRPSOLVK
WKLVE\LWHUDWLQJWKURXJKWKHPB&UHDWHG:QG+DQGOHVDUUD\RIVWRUHGZLQGRZKDQGOHVDQG
FDOOLQJWKH'HVWUR\:LQGRZIXQFWLRQIRUDOOWKHVHZLQGRZV7KH'HVWUR\:LQGRZIXQFWLRQVHQGV
WKH:0B'(6752<DQG:0B1&'(6752<PHVVDJHVWRWKHUHVSHFWLYHZLQGRZVWRGHVWUR\
WKHP$IWHUWKH\DUHGHVWUR\HGWKHPHVVDJHTXHXHLVIOXVKHGRIDOOPHVVDJHVSHUWDLQLQJWR
WKDWZLQGRZ
)RU&RXQW 7R8%RXQGPB&UHDWHG:QG+DQGOHV
1H[W
'HVWUR\:LQGRZPB&UHDWHG:QG+DQGOHV&RXQW
7KH3RVW4XLW0HVVDJHIXQFWLRQLVWKHQFDOOHGWRMXPSRXWRIWKHPHVVDJHORRSDQGFORVHGRZQ
WKHDSSOLFDWLRQ
,WLVQHFHVVDU\WRGHVWUR\WKHVHZLQGRZVLQWKLVPDQQHUWRDOORZRXUDSSOLFDWLRQWRVKXWGRZQ
FOHDQO\,IZHGLGQRWGHVWUR\WKHVHZLQGRZV8QUHJLVWHU&ODVVZRXOGIDLOWRGHVWUR\WKH
1HZ0DLQ:QG&ODVVDQG1HZ%WWQ&ODVVVXSHUFODVVHV0RVWOLNHO\WKHFODVVHVZLOOEH
GHVWUR\HGDIWHUWKHDSSOLFDWLRQILQLVKHVVKXWWLQJGRZQ%XWLID'//ZHUHWRUHJLVWHUWKHVH
FODVVHVRQD:LQGRZV17RUD:LQGRZVV\VWHPWKHFODVVHVZRXOGQRWEHXQUHJLVWHUHG
DQGWKHPHPRU\XVHGWRVWRUHWKHFODVVLQIRUPDWLRQZRXOGQRWEHUHFODLPHG7KLVFDXVHVD
PHPRU\OHDN7REHVDIHDOOFODVVHVUHJLVWHUHGE\WKHDSSOLFDWLRQVKRXOGEHXQUHJLVWHUHGE\
WKDWDSSOLFDWLRQEHIRUHWHUPLQDWLQJ
)LQDOO\WKLVVXSHUFODVVSURFHGXUHSDVVHVDOOPHVVDJHVH[FHSWIRU:0B'(6752<WRWKH
GHIDXOWZLQGRZSURFHGXUH
$V\RXFDQVHHWKHUHLVQRGLIIHUHQFHLQWKHVWUXFWXUHDQGRSHUDWLRQRIDVXSHUFODVV
SURFHGXUHFRPSDUHGWRWKHZLQGRZSURFHGXUHVZHDUHXVHGWRZRUNLQJZLWK
([DPSOHVKRZVWKHVXSHUFODVVSURFHGXUHIRUWKH1HZ%WWQ&ODVVVXSHUFODVV7KLV
VXSHUFODVVSURFHGXUHWUDSVWKH:0B/%8772183PHVVDJHIRUWKHVXSHUFODVVHGEXWWRQ
FRQWURO:KHQWKLVPHVVDJHLVUHFHLYHGDQHZZLQGRZLVFUHDWHGIURPWKH
1HZ0DLQ:QG&ODVVVXSHUFODVVDQGDEXWWRQFRQWUROFUHDWHGIURPWKH1HZ%WWQ&ODVV
VXSHUFODVVLVSODFHGRQWKLVZLQGRZDV)LJXUHVKRZV7KH6KRZ:LQGRZIXQFWLRQLV
FDOOHGWRGLVSOD\ERWKZLQGRZV)RUDOOZLQGRZVFUHDWHGLQWKLVPDQQHUDQHQWU\LVDGGHGWR
WKHPB&UHDWHG:LQGRZVDUUD\7KLVDOORZVXVWRFOHDQO\GHVWUR\DOOZLQGRZVFUHDWHGLQWKLV
PDQQHUZKHQWKHPDLQZLQGRZLVFORVHG
([DPSOH7KH%XWWRQ:QG3URF:LQGRZ3URFHGXUH 3XEOLF)XQFWLRQ%XWWRQ:QG3URF%\9DOKZQG$V/RQJ%\9DOX0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
'LPWHPS+ZQG$V/RQJ
'LPWHPS%XWWRQ+ZQG$V/RQJ
6HOHFW&DVHX0VJ
&DVH:0B/%8772183
&UHDWHDQHZZLQGRZZLWKWKHVXSHUFODVVHGEXWWRQRQLW
WHPS+ZQG &UHDWH:LQGRZ([1HZ0DLQ:QG&ODVV1HZ:LQGRZB
:6B29(5/$33(':,1'2:&:B86('()$8/7
&/QJ$SSK,QVWDQFH %\9DO
&:B86('()$8/7B
WHPS%XWWRQ+ZQG &UHDWH:LQGRZ([1HZ%WWQ&ODVV&OLFN0HB
:6B&+,/'2U:6B9,6,%/(2U%6B386+%87721B WHPS+ZQG&/QJ$SSK,QVWDQFH
6KRZDOOQHZZLQGRZV
&DOO6KRZ:LQGRZWHPS+ZQG6:B6+2:1250$/
&DOO6KRZ:LQGRZWHPS%XWWRQ+ZQG6:B6+2:1250$/
$GGWKLVZLQGRZ VKZQGWRWKHOLVWRIFUHDWHGZLQGRZV
PB&UHDWHG:QG+DQGOHV8%RXQGPB&UHDWHG:QG+DQGOHV WHPS+ZQG
5H'LP3UHVHUYHPB&UHDWHG:QG+DQGOHV8%RXQGPB&UHDWHG:QG+DQGOHV
(QG6HOHFW
3DVVPHVVDJHVRQWRRULJLQDOEXWWRQZLQGRZSURFHGXUH
%XWWRQ:QG3URF &DOO:LQGRZ3URFPB2ULJ%WWQ:LQ3URFKZQGX0VJZ3DUDPO3DUDP
(QG)XQFWLRQ
$OOPHVVDJHVDUHSDVVHGRQWRWKHRULJLQDOZLQGRZSURFHGXUH,WLVLQWHUHVWLQJWRQRWHWKDWZH
FDQXVH&DOO:LQGRZ3URFWRSDVVWRWKHEXWWRQFODVV VRULJLQDOZLQGRZSURFHGXUHDOOWKH
PHVVDJHVIRUWKHVXSHUFODVVHGEXWWRQFRQWURO:HFDQQRWGRWKLVZLWKZLQGRZVFUHDWHGIURP
WKHVXSHUFODVVHG7KXQGHU57)RUP'&FODVV,IZHWU\XVLQJWKH&DOO:LQGRZ3URFLQVWHDGRI
WKH'HI:LQGRZ3URFIXQFWLRQD*HQHUDO3URWHFWLRQ)DXOW*3) LVJHQHUDWHGLQVLGHWKH
069%90'//PRGXOH7KHUHDVRQIRUWKLVFDQEHIRXQGLQWKHZD\WKHFODVVHVDUH
UHJLVWHUHG7KH%87721FODVVLVUHJLVWHUHGDVDJOREDOFODVV,WVVFRSHLQFOXGHVDOOPRGXOHV
LQDOOUXQQLQJDSSOLFDWLRQV7KLVLVQRWVRZLWKWKH7KXQGHU57)RUP'&FODVVLWLVUHJLVWHUHG
DVDQDSSOLFDWLRQORFDOFODVV7KLVLVKRZ\RXFDQGHWHUPLQHWKHVFRSHRIFODVV • • •
,IWKHK,QVWDQFHPHPEHURIWKHFODVVVWUXFWXUHLV]HURWKHFODVVLVDV\VWHPZLGH
FODVV
,IWKH&6B*/2%$/&/$66VW\OHLVLQFOXGHGLQWKHVW\OHPHPEHURIWKHFODVVVWUXFWXUH
WKHFODVVLVDQDSSOLFDWLRQJOREDOFODVV
,IWKH&6B*/2%$/&/$66VW\OHLVQRWLQFOXGHGLQWKHVW\OHPHPEHURIWKHFODVV
VWUXFWXUHWKHFODVVLVDQDSSOLFDWLRQORFDOFODVV
$QDSSOLFDWLRQORFDOFODVVLVRQHWKDWLVFUHDWHGE\DPRGXOHRQO\WREHXVHGE\WKDWPRGXOH
7KH7KXQGHU57)RUP'&FODVVLVGHVLJQHGWRZRUNRQO\ZLWKLQWKH069%90'//PRGXOH
2XUVXSHUFODVVZKLFKLVFUHDWHGIURPWKH7KXQGHU57)RUP'&EDVHFODVVZRUNVILQHXQWLO WKHRULJLQDOZLQGRZSURFHGXUHLVFDOOHG7KHRULJLQDOZLQGRZSURFHGXUHLVORFDWHGLQWKH
069%90'//PRGXOHDQGWKHVXSHUFODVVSURFHGXUHLVORFDWHGLQWKH(;(PRGXOH7KH SUREOHPRFFXUVZKHQZHWU\WRFDOOWKHRULJLQDOZLQGRZSURFHGXUHIURPZLWKLQWKH(;( PRGXOHZKLFKKDVDGLIIHUHQWLQVWDQFHKDQGOH7KHDSSOLFDWLRQZLOOQRWDOORZWKLVDQG
VXEVHTXHQWO\WKURZVD*3)
7RVHHWKLVIURPDGLIIHUHQWDQJOHVWDUW6S\DQGFRPSDUHWKH,QVWDQFH+DQGOHILHOGVIRUDOO
FRQWUROVFUHDWHGGLUHFWO\IURPWKH7KXQGHU FODVVHV7KH\DUHDOOWKHVDPH7KHZLQGRZV
FUHDWHGIURPWKH1HZ0DLQ:LQGRZ&ODVVVXSHUFODVVDOOKDYHWKHLQVWDQFHKDQGOHRIWKH(;(
PRGXOH
:HFDQVXSHUFODVVWKH%87721FODVVEHFDXVHLWLVDV\VWHPZLGHFODVV7KLVFODVVLV
DYDLODEOHIRUXVHLQDOOPRGXOHV7KLVFODVVDOVRDOORZVFRGHZLWKLQDQ\PRGXOHWRFDOOEDFNWR
WKHZLQGRZSURFHGXUHRIWKHRULJLQDO%87721FODVV
3HHULQJLQWRWKH6XSHUFODVVLQJ$SSOLFDWLRQZLWK6S\ :KHQXVLQJ6S\WRDQDO\]HWKLVVXSHUFODVVLQJH[DPSOHDSSOLFDWLRQZHVHHVHYHUDO
LQWHUHVWLQJWKLQJV([DPLQLQJWKHZLQGRZDQGZLQGRZFODVVLQIRUPDWLRQIRUHDFKZLQGRZRI
WKHDSSOLFDWLRQZHQRWLFHWKDWDOOWKHLQIRUPDWLRQIURPWKHRULJLQDOFODVVLVFRSLHGRYHUWRWKH
VXSHUFODVV)RUH[DPSOHWKH7KXQGHU57)RUP'&EDVHFODVVLQIRUPDWLRQFRQWDLQVWKLVGDWD
&ODVV:QG3URF))&% K,QVWDQFH
6W\OH&6B'%/&/.6RU&6B2:1'&
&ODVV([WUD%\WHV
:QG([WUD%\WHV
0HQXQRQH
,FRQ+DQGOHQRQH
&XUVRU+DQGOH,'&B$552:
%NJQG%UXVK&2/25B:,1'2:
8VLQJ*HW&ODVV,QIR([DQG5HJLVWHU&ODVV([ZHPDGHDFRS\RIWKH7KXQGHU57)RUP'&
EDVHFODVVDQGUHJLVWHUHGLWDVWKH1HZ0DLQ:QG&ODVVVXSHUFODVV7KH1HZ0DLQ:QG&ODVV
VXSHUFODVVLQIRUPDWLRQFRQWDLQVWKLVGDWD
&ODVV:QG3URF&(
K,QVWDQFH
6W\OH&6B'%/&/.6RU&6B2:1'&
&ODVV([WUD%\WHV
:QG([WUD%\WHV
0HQXQRQH
,FRQ+DQGOHQRQH
&XUVRU+DQGOH,'&B83$552:
%NJQG%UXVK&2/25B:,1'2:
7KHFODVVQDPHOSV]&ODVV1DPH WKHFODVVZLQGRZSURFHGXUHOSIQ:QG3URF WKHLQVWDQFH
KDQGOHK,QVWDQFH DQGWKH&XUVRU+DQGOHK&XUVRU ZHUHWKHRQO\FODVVVWUXFWXUHPHPEHUV
PRGLILHG7KHDERYHLQIRUPDWLRQUHIOHFWVWKHVHFKDQJHV$OORWKHUFODVVLQIRUPDWLRQLVFRSLHG
LQWRWKH1HZ0DLQ:QG&ODVVVXSHUFODVVYHUEDWLP
:HVXSHUFODVVWKH%87721EDVHFODVVLQDVLPLODUZD\H[FHSWK&XUVRULVQRWPRGLILHG7KH
JOREDO%87721EDVHFODVVFRQWDLQVWKLVGDWD
&ODVV:QG3URF(%% K,QVWDQFH18//
6W\OH&6B3$5(17'&RU&6B'%/&/.6RU&6B+5('5$:RU&6B95('5$:
&ODVV([WUD%\WHV
:QG([WUD%\WHV
0HQXQRQH
,FRQ+DQGOHQRQH
&XUVRU+DQGOH,'&B$552: %NJQG%UXVKQRQH
&RPSDUDWLYHO\WKH1HZ%WWQ&ODVVVXSHUFODVVFRQWDLQVWKLVGDWD
&ODVV:QG3URF&
K,QVWDQFH
6W\OH&6B3$5(17'&RU&6B'%/&/.6RU&6B+5('5$:RU&6B95('5$: &ODVV([WUD%\WHV
:QG([WUD%\WHV
0HQXQRQH
,FRQ+DQGOHQRQH
&XUVRU+DQGOH,'&B$552: %NJQG%UXVKQRQH
$VDQRWHDOOVXSHUFODVVHGZLQGRZVKDYHWKHVDPHZLQGRZSURFHGXUHDGGUHVV(YHU\
ZLQGRZFUHDWHGIURPWKH1HZ0DLQ:QG&ODVVVXSHUFODVVLQKHULWVWKHZLQGRZSURFHGXUH
DGGUHVVIURPWKHFODVVLWZDVFUHDWHGIURP7KHUHIRUHDOOZLQGRZVRIWKLVW\SHZLOOFDOOWKH
VDPHVXSHUFODVVSURFHGXUHXQOHVVWKH\WKHPVHOYHVDUHVXEFODVVHG ,WLVSRVVLEOHWKDWRQH
RIWKHVHZLQGRZVZLOOQHHGWRSURFHVVDPHVVDJHGLIIHUHQWO\IURPWKHUHVWRIWKHZLQGRZV7R
GRWKLVVLPSO\FKHFNWKHK:QGSDVVHGLQWRWKHVXSHUFODVVSURFHGXUHIRUWKHZLQGRZLQ
TXHVWLRQ
7KHH[DPSOHDSSOLFDWLRQIRUWKLVFKDSWHUKDVDQLOOXVWUDWLRQRIWKLVSUREOHP7KHDSSOLFDWLRQLV
VKXWGRZQRQO\ZKHQWKHPDLQZLQGRZLVFORVHG7KHK:QGYDOXHLVFKHFNHGLQWKH
VXSHUFODVVSURFHGXUHDQ\WLPHDZLQGRZLVFORVHG,IWKHZLQGRZKDQGOHPDWFKHVWKHPDLQ
ZLQGRZ VKDQGOHWKHDSSOLFDWLRQLVVKXWGRZQ2WKHUZLVHRQO\WKHZLQGRZEHLQJFORVHGLV
GHVWUR\HG
$OOVXSHUFODVVHGEXWWRQFRQWUROVZLOOFDOOWKHVDPHVXSHUFODVVSURFHGXUH7KLVLVVLPLODUWR
KRZWKHVXSHUFODVVHGZLQGRZVRSHUDWH
8VLQJ6S\WRH[DPLQHWKHZLQGRZVDVWKH\DUHUXQQLQJLQWKH9%,'(DVRSSRVHGWRD
FRPSLOHGH[HFXWDEOHZHQRWLFHVRPHWKLQJRILQWHUHVW)LUVWWKHLQVWDQFHKDQGOHVWRDOO
ZLQGRZVDQGZLQGRZFODVVHVDUHWKHVDPHZKHQUXQQLQJLQWKH,'(:KLOHUXQQLQJLQD
FRPSLOHGH[HFXWDEOHDOO7KXQGHU FODVVHVKDYHWKHLQVWDQFHKDQGOHRIWKH069%90'//
PRGXOHZKLOHDOOFODVVHVUHJLVWHUHGLQWKH(;(PRGXOHKDYHWKHLQVWDQFHKDQGOHRIWKH(;(
7KLVSRVHVDSUREOHPZKHQWU\LQJWRUXQDQDSSOLFDWLRQZKLFKVXSHUFODVVHV7KXQGHU FODVVHV
LQWKH,'(DQGDVDFRPSLOHGH[HFXWDEOH,QWKH,'(WKHUHLVQRSUREOHPXVLQJWKH7KXQGHU
FODVVQDPHGLUHFWO\LQWKH*HW&ODVV,QIR([IXQFWLRQFDOO5HPHPEHUWROHDYHRIIWKH57IURP
WKHFODVVQDPHZKLOHUXQQLQJLQWKH,'(7KHIROORZLQJFRGHZLOOZRUNZKLOHUXQQLQJZLWKLQWKH
,'(EXWQRWIURPDFRPSLOHGH[HFXWDEOH
O5HW9DO *HW&ODVV,QIR([$SSK,QVWDQFH7KXQGHU)RUP'&B VWUXFW2ULJ:LQ&ODVV
7KHIXQFWLRQFDQQRWILQGWKH7KXQGHU)RUP'&FODVVIURPZLWKLQWKH(;(PRGXOHRIDFRPSLOHG
DSSOLFDWLRQEHFDXVHWKHFODVVGRHVQRWH[LVWLQWKDWPRGXOHWKH$SSK,QVWDQFHSURSHUW\
FRQWDLQVWKH(;(PRGXOHLQVWDQFHKDQGOHQRWWKH069%90'//PRGXOHLQVWDQFHKDQGOH
7RPDNHRXUDSSOLFDWLRQVIOH[LEOHHQRXJKWRZRUNERWKLQWKH,'(DQGDVDFRPSLOHG(;(ZH
VKRXOGXVHWKHIROORZLQJFRGH
O5HW/HQJWK *HW&ODVV1DPH)RUPKZQGV&ODVV1DPH
P\K,QVW *HW&ODVV/RQJ)RUPKZQG*&/B+02'8/(
OUHWYDO *HW&ODVV,QIR([P\K,QVW/HIWV&ODVV1DPHO5HW/HQJWK VWUXFW2ULJ:LQ&ODVV
7KHODVWLWHPRILQWHUHVWLVWKHRUGHULQZKLFKWKH:0B'(6752<DQG:0B1&'(6752<
PHVVDJHVDUHVHQWWRWKHYDULRXVZLQGRZVWKDWPDNHXSWKLVDSSOLFDWLRQ7KLVZLOOSURYLGH
VRPHLQVLJKWRQKRZWKHZLQGRZVDUHV\VWHPDWLFDOO\GHVWUR\HGXSRQFORVLQJWKHDSSOLFDWLRQ
7KHIROORZLQJRUGHURIHYHQWVLVREVHUYHGE\XVLQJ6S\WRPRQLWRUPHVVDJHVIRUWKH
H[DPSOHDSSOLFDWLRQSUHVHQWHGLQWKLVFKDSWHUZKLOHLWLVVKXWWLQJGRZQ 0DLQ:LQGRZFOLHQWDUHD 1HZ:LQGRZFOLHQWDUHD
1HZ:LQGRZ%XWWRQFOLHQWDUHD
1HZ:LQGRZ%XWWRQQRQFOLHQWDUHD 1HZ:LQGRZQRQFOLHQWDUHD
0DLQ:LQGRZ%XWWRQFOLHQWDUHD
0DLQ:LQGRZ%XWWRQQRQFOLHQWDUHD
0DLQ:LQGRZQRQFOLHQWDUHD )RUPFOLHQWDUHD
)RUPQRQFOLHQWDUHD
7KXQGHU570DLQFOLHQWDUHD
9%)RFXV57FOLHQWDUHD
9%)RFXV57QRQFOLHQWDUHD
7KXQGHU570DLQQRQFOLHQWDUHD 9%0VR6WG&RPS0JUFOLHQWDUHD
9%0VR6WG&RPS0JUQRQFOLHQWDUHD
2OH0DLQ7KUHDG:QG&ODVVFOLHQWDUHD
2OH0DLQ7KUHDG:QG&ODVVQRQFOLHQWDUHD 7KHFOLHQWDUHDRIDZLQGRZLVDOZD\VGHVWUR\HGEHIRUHWKHQRQFOLHQWDUHDWKHUHIRUHWKH
:0B'(6752<PHVVDJHLVVHQWWRDZLQGRZEHIRUH:0B1&'(6752<7KLVLVWKHRUGHULQ
ZKLFKWKLVDSSOLFDWLRQ VZLQGRZVDUHGHVWUR\HG1RWHWKDWWKHLQGHQWHGZLQGRZV6WHSV
WKURXJK PXVWEHGHVWUR\HGEHIRUHWKH0DLQ:LQGRZ VFOLHQWDUHDFDQEHGHVWUR\HG6WHS
7KH0DLQ:LQGRZ VFOLHQWDUHDFRPSOHWHVLWVGHVWUXFWLRQDIWHUDOORWKHURSHQZLQGRZVDQG
WKHLUUHVSHFWLYHEXWWRQFRQWUROVDUHGHVWUR\HG
$IWHUWKHXVHUFORVHVWKHPDLQZLQGRZWKH:0B'(6752<PHVVDJHLVVHQWWRWKDWZLQGRZ
,QUHVSRQVHWRWKDWPHVVDJHWKHVXSHUFODVVSURFHGXUHORRSVWKURXJKDOORWKHURSHQZLQGRZV
DQGGHVWUR\VHDFKRIWKHPLQWXUQ7KLVLVZK\WKHQHZZLQGRZVDQGWKHLUEXWWRQFRQWUROVDUH
EHLQJGHVWUR\HGEHIRUHWKHPDLQZLQGRZFDQILQLVKGHVWUR\LQJLWVRZQFOLHQWDUHD
7KHEXWWRQFRQWURORQWKHPDLQZLQGRZLVGHVWUR\HGQH[W6WHSVDQG IROORZHGE\WKH
QRQFOLHQWDUHDRIWKHPDLQZLQGRZ6WHS 7KHODVWDFWLRQWKHFRGHSHUIRUPVLVWRXQORDGWKH
)RUPZLQGRZ7KLVGHVWUR\VERWKWKHFOLHQWDQGQRQFOLHQWDUHDVRIWKLVIRUP6WHSVDQG
7KLVILQLVKHVWKHGHVWUXFWLRQRIDOOIRUPVWKDWZHJHQHUDWHGLQWKHDSSOLFDWLRQFRGH
7KHUHVWRIWKHVKXWGRZQSURFHVVLQYROYHVGHVWUR\LQJWKHZLQGRZVWKDW9%FUHDWHVEHKLQGWKH
VFHQHV7KHILUVWLVWKH7KXQGHU570DLQIRUP6WHS ZKLFKFRQWDLQVWKH9%)RFXV57
ZLQGRZ7KH9%)RFXV57ZLQGRZPXVWEHFRPSOHWHO\GHVWUR\HG6WHSVDQG EHIRUH
WKHQRQFOLHQWDUHDRIWKH7KXQGHU570DLQIRUPFDQEHGHVWUR\HG6WHS 7KHODVWWZR
ZLQGRZVWREHGHVWUR\HGDUH9%0VR6WG&RPS0JU6WHSVDQG DQG
2OH0DLQ7KUHDG:QG&ODVV6WHSVDQG LQWKDWRUGHU
:KHQWKHDSSOLFDWLRQLVVWDUWLQJLWFUHDWHVWKHVHZLQGRZVLQWKHUHYHUVHRUGHU
&KDSWHU'HEXJJLQJ7HFKQLTXHVIRU6XEFODVVLQJ 'HEXJJLQJDQDSSOLFDWLRQWKDWXVHVDQ\W\SHRIVXEFODVVLQJRUVXSHUFODVVLQJLVGLIILFXOWDW
EHVW7RDLG\RXLQWKLVHQGHDYRUWKLVFKDSWHUZLOOGLVFXVVWKHPHWKRGVDQGWRROVXVHIXOLQ
GHEXJJLQJLQVWDQFHVXEFODVVLQJJOREDOVXEFODVVLQJDQGVXSHUFODVVLQJDSSOLFDWLRQV
7KHILUVWVHFWLRQGLVFXVVHVZD\VWRWUDFHWKURXJK\RXUDSSOLFDWLRQ VFRGHWRGHWHUPLQHZKHUH
DSUREOHPOLHV7KHQH[WVHFWLRQSURYLGHVLQIRUPDWLRQRQWRROVSURYLGHGE\0LFURVRIW7KHODVW
VHFWLRQFRYHUV6PDUW&KHFNDWRROGHYHORSHGE\1X0HJDWRDVVLVWGHYHORSHUVLQGHEXJJLQJ
9LVXDO%DVLF9% DSSOLFDWLRQV
:KHUHWR6WDUW 7KHPRVWLPSRUWDQWWKLQJWKDW\RXVKRXOGUHPHPEHULVWRVDYH\RXUZRUNRIWHQ,WHOO\RXWKLV
IURPH[SHULHQFH,I\RXUVXEFODVVLQJDSSOLFDWLRQFUDVKHVZKLOHUXQQLQJLQWKH9LVXDO%DVLF
,'(WKHHQWLUH9%HQYLURQPHQWLQFOXGLQJWKHUXQQLQJDSSOLFDWLRQLVORVW$OOXQVDYHGFRGHDOVR
LVORVW
7KHUHDUHUHOLDEOHZD\VWRGHEXJVXEFODVVLQJDSSOLFDWLRQV,ZLOOSUHVHQWWKHRQHV,XVH
UHJXODUO\KHUH
:KHQZULWLQJDVXEFODVVLQJDSSOLFDWLRQLWLVXVXDOO\EHWWHUWRVWDUWVLPSOH:ULWHWKH
VXEFODVVLQJFRGHXVLQJRQO\DPLQLPDOZLQGRZSURFHGXUHIXQFWLRQ%\WKLV,PHDQGRQRW
KDQGOHDQ\PHVVDJHVZLWKLQWKLVIXQFWLRQRQO\SDVVWKHPHVVDJHVRQWRWKHRULJLQDOZLQGRZ
SURFHGXUH7KLVLVWKHFRGHIRUDPLQLPDOZLQGRZSURFHGXUH
3XEOLF)XQFWLRQ:LQ3URF%\9DOKZQG$V/RQJ%\9DOX0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
:LQ3URF &DOO:LQGRZ3URF2ULJ:QG3URFKZQGX0VJZ3DUDPO3DUDP
(QG)XQFWLRQ
7KLVDOORZV\RXWRWHVW\RXUVXEFODVVLQJFRGHDORQH$IWHUDOOSUREOHPVDUHUHVROYHGZLWKWKH
VXEFODVVLQJFRGH\RXFDQSURFHHGDGGLQJWKHQHFHVVDU\FRGHWRWKHVXEFODVVHGZLQGRZ
SURFHGXUH,IWKHUHLVDSUREOHPDIWHUDGGLQJFRGHWRWKHVXEFODVVHGZLQGRZSURFHGXUH\RX
FDQQDUURZLWGRZQWRWKLVQHZFRGH
6XEFODVVLQJ&KHFNOLVW %HIRUHUXQQLQJ\RXUVXEFODVVLQJDSSOLFDWLRQIRUWKHILUVWWLPHLWLVDJRRGLGHDWRUXQWKURXJKD
EDVLFFKHFNOLVWWRYHULI\WKDWDOOSLHFHVUHTXLUHGIRUVXEFODVVLQJDUHDFFRXQWHGIRU
XVHWKHIROORZLQJFKHFNOLVWVDVJXLGHOLQHIRUYHULI\LQJVXEFODVVLQJFRGH
7KH6HW:LQGRZ/RQJ3WURU6HW&ODVV/RQJ3WUIXQFWLRQXVHGWRLQLWLDWHVXEFODVVLQJLV
SUHVHQWDQGDOOLWVSDUDPHWHUVDUHFRUUHFW7KH$GGUHVV2IRSHUDWRUPXVWUHIHUHQFHD
YDOLGZLQGRZSURFHGXUH
7KHRULJLQDOZLQGRZSURFHGXUHUHWXUQHGIURPWKH6HW:LQGRZ/RQJ3WURU 6HW&ODVV/RQJ3WUIXQFWLRQLVVWRUHGLQDYDULDEOH
7KHVXEFODVVZLQGRZSURFHGXUHLVDFFRXQWHGIRUDQGUHVLGHVLQDFRGH%$6 PRGXOH
7KHQXPEHUDQGW\SHRIDUJXPHQWVIRUWKHVXEFODVVZLQGRZSURFHGXUHDUHFRUUHFW
7KHVXEFODVVZLQGRZSURFHGXUHFRQWDLQVDFDOOWRHLWKHU&DOO:LQGRZ3URFRU 'HI:LQGRZ3URFIRUGHIDXOWPHVVDJHSURFHVVLQJ
7KHQXPEHUDQGW\SHRIDUJXPHQWVIRUWKH&DOO:LQGRZ3URFRU'HI:LQGRZ3URF IXQFWLRQDUHFRUUHFW
,I&DOO:LQGRZ3URFLVXVHGWKHRULJLQDOZLQGRZSURFHGXUHSDVVHGDVWKHILUVW DUJXPHQWLVYDOLG
7KH6HW:LQGRZ/RQJ3WURU6HW&ODVV/RQJ3WUIXQFWLRQXVHGWRWHUPLQDWHVXEFODVVLQJLV SUHVHQWDQGDOOLWVSDUDPHWHUVDUHFRUUHFW
%HIRUHWKHVXEFODVVHGZLQGRZLVFORVHGLWVRULJLQDOZLQGRZSURFHGXUHLVUHSODFHG
7KHUHDUHQR(QGVWDWHPHQWVLQWKHDSSOLFDWLRQ
'RQRWXVH'R(YHQWV
,QDGGLWLRQLI\RXDUHSHUIRUPLQJJOREDOVXEFODVVLQJDGGWKHVHLWHPVWRWKHFKHFNOLVW $KLGGHQZLQGRZLVFUHDWHGWRLQLWLDWHJOREDOVXEFODVVLQJ7KLVZLQGRZLVGHVWUR\HG RQO\DIWHUJOREDOVXEFODVVLQJKDVEHHQWHUPLQDWHG
'HVWUR\DOOJOREDOO\VXEFODVVHGZLQGRZVEHIRUHWHUPLQDWLQJJOREDOVXEFODVVLQJ ,I\RXDUHSHUIRUPLQJVXSHUFODVVLQJDGGWKHVHLWHPVWRWKHILUVWFKHFNOLVW 7KHSRLQWHUWRWKHEDVHFODVV VZLQGRZSURFHGXUHLVVDYHGDQGXVHGWRSURYLGHWKH GHIDXOWSURFHVVLQJIRUPHVVDJHVLQWKHVXSHUFODVVSURFHGXUH
7KHVXSHUFODVVLVJLYHQDQHZXQLTXHFODVVQDPH
7KHVXSHUFODVVLVJLYHQDYDOLGLQVWDQFHKDQGOH
7KLVLVDVHSDUDWHFKHFNOLVW\RXFDQXVHZLWKFRPPRQGLDORJER[VXEFODVVLQJ $YDOLGGLDORJWHPSODWHUHVRXUFHLVXVHG
7KHUHVRXUFHLVFRUUHFWO\SDFNDJHGDVHLWKHUDG\QDPLFOLQNOLEUDU\'// RUD UHVRXUFH5(6 ILOH
7KHFRUUHFWVWUXFWXUHLVXVHGWRFUHDWHWKHFRPPRQGLDORJER[
7KHFRUUHFWWHPSODWHUHVRXUFHDQGKRRNSURFHGXUHKDYHEHHQDGGHGWRWKHFRPPRQ GLDORJER[VWUXFWXUH
7KHK,QVWDQFHPHPEHURIWKHFRPPRQGLDORJER[VWUXFWXUHFRQWDLQVWKHKDQGOHWRWKH PRGXOHFRQWDLQLQJWKHGLDORJWHPSODWHUHVRXUFH
7KHFRUUHFWIODJVKDYHEHHQVHWLQWKHIODJVPHPEHULQWKHFRPPRQGLDORJER[ VWUXFWXUH
7KHQXPEHUDQGW\SHRIDUJXPHQWVIRUWKHGLDORJKRRNSURFHGXUHDUHFRUUHFW
6WHSSLQJ7KURXJKWKH$SSOLFDWLRQ $OWKRXJKLWLVSRVVLEOHWRVHWEUHDNSRLQWVLQ\RXUVXEFODVVLQJDSSOLFDWLRQDQGVWHSWKURXJKWKH
FRGH,GRQRWUHFRPPHQGWKLVSUDFWLFH,QPDQ\FDVHVWKLVZLOOFDXVH\RXUDSSOLFDWLRQDQG WKH9%HQYLURQPHQWWRIUHH]HRUFUDVK
$IWHUVXEFODVVLQJLVWXUQHGRQIRUDQDSSOLFDWLRQWKDW\RXDUHVWHSSLQJWKURXJKDOOPHVVDJHV
VHQWWRWKDWZLQGRZZLOOFDXVHWKHVXEFODVVHGZLQGRZSURFHGXUHWREHFDOOHG8QIRUWXQDWHO\
WKHUHLVDELJSUREOHPZLWKDFWLYDWLRQEHWZHHQ\RXUDSSOLFDWLRQ VZLQGRZDQGWKHFRGHZLQGRZ
ZLWKLQWKH,'($V\RXDUHVWHSSLQJWKURXJK\RXUFRGHWKHFRGHZLQGRZPXVWEHWKHDFWLYH
ZLQGRZ,I\RXWU\WRVHW\RXUDSSOLFDWLRQZLQGRZDVWKHDFWLYHZLQGRZWKHV\VWHPZLOO
LPPHGLDWHO\VWDUWVHQGLQJPHVVDJHVWRWKDWZLQGRZWRDFWLYDWHLWSDLQWLWRQWKHVFUHHQDQG
VRIRUWK(YHU\PHVVDJHWKDWLVVHQWWRWKHDSSOLFDWLRQZLQGRZFDXVHVWKHFRGHZLQGRZWR
DFWLYDWHDOORZLQJ\RXWRVWHSWKURXJKWKHFRGHLQWKHVXEFODVVHGZLQGRZSURFHGXUH$V\RX
VWHSWKURXJKWKHFRGH\RXZLOOQRWLFHWKDWWKHVXEFODVVHGZLQGRZSURFHGXUHLVFDOOHGDODUJH
QXPEHURIWLPHV0DQ\RIWKHPHVVDJHVEHLQJVHQWWRWKLVSURFHGXUHDUHWU\LQJWRSRVLWLRQ
DQGSDLQWWKHVXEFODVVHGZLQGRZRQWKHVFUHHQ:KDWLVKDSSHQLQJLVWKDWWKHFRGHZLQGRZ
RIWKH,'(LVFRQWHQGLQJZLWKWKHVXEFODVVHGZLQGRZIRUDFWLYDWLRQ7KLVZLOOFDXVHHDFK
ZLQGRZWRSDLQWRQWKHVFUHHQLQDQHUUDWLFZD\7KLVZLOOPRVWOLNHO\HQGXSIUHH]LQJ\RXU
DSSOLFDWLRQDQGWKHRQO\ZD\RXWLVWRNLOORIIWKHDSSOLFDWLRQ VSURFHVVDQGWKH9%,'(ZLWKLW
7KHUHDUHPRUHUREXVWZD\VRIGHEXJJLQJ\RXUFRGH7KHPDLQGUDZEDFNLVWKDW\RXPLJKW
QRWJHWWKHLQVWDQWIHHGEDFNWKDW\RXFDQJHWE\VWHSSLQJWKURXJK\RXUDSSOLFDWLRQLQWKH,'(
DQG\RXFDQQRWFKDQJHWKHFRGHRQWKHIO\
/RJ)LOHV 7KHEHVWZD\WRWUDFHH[HFXWLRQLQ\RXUVXEFODVVLQJDSSOLFDWLRQVKRUWRIXVLQJWKLUGSDUW\
WRROVLVWRXVHWKHHYHQWORJJLQJFDSDELOLWLHVRI9%7KLVWHFKQLTXHLVVLPSOHDQGHIIHFWLYH
7KHLQIRUPDWLRQ\RXJOHDQIURPWKHVHORJILOHVFDQWHOO\RXZKDW\RXUDSSOLFDWLRQZDVGRLQJ
ZKHQLWFUDVKHGZKHUHLWFUDVKHGDQGHYHQZKDWPDGHLWFUDVK
,KDYHXVHGWZRGLIIHUHQWPHWKRGVIRULPSOHPHQWLQJORJILOHV7KHILUVWLVWRSURYLGHDWH[WER[
RQDZLQGRZWKDWFDQUHFHLYHPHVVDJHVDQGFRPPHQWV$WVWUDWHJLFORFDWLRQVWKURXJKRXWWKH
FRGH,SODFHOLQHVWKDWDGGLQIRUPDWLRQWRWKLVWH[WER[)RUH[DPSOH,PLJKWDGGDOLQHLQWKH
FRGHWKDWZULWHVWKHYDOXHRIWKHRULJLQDOZLQGRZSURFHGXUH VIXQFWLRQSRLQWHUWRWKLVWH[WER[
7KHOLQHPLJKWORRNVRPHWKLQJOLNHWKLV
)RUP7H[W7H[W )RUP7H[W7H[W 2ULJLQDO:LQGRZ3URF PB2ULJ:LQ3URF B YE&U/I
7KLVLVDIDVWDQGHDV\ZD\WRJHWIHHGEDFNRQKRZ\RXUDSSOLFDWLRQLVRSHUDWLQJ7KHUHDUH WZRGUDZEDFNVWRWKLVPHWKRGKRZHYHU7KHILUVWLVWKDW\RXPXVWVXSSO\WKHFRGHWRDGG
PHVVDJHVWRWKLVWH[WER[WKURXJKRXW\RXUFRGH7KLVPLJKWWDNHVRPHWULDODQGHUURUWRJHWDOO
WKHLQIRUPDWLRQWKDW\RXQHHGWRGHEXJ\RXUDSSOLFDWLRQ
7KHRWKHUGUDZEDFNLVWKDWLI\RXDUHVHQGLQJDODUJHQXPEHURIPHVVDJHVWRWKLVWH[WER[
VD\OLQHVDQG\RXUDSSOLFDWLRQFUDVKHV\RXZLOOQRWEHDEOHWRVHHDOOWKHLQIRUPDWLRQLQ
\RXUWH[WER[7KHIL[IRUWKLVSUREOHPLVDVOLJKWO\GLIIHUHQWPHWKRGRIORJJLQJPHVVDJHV,Q
DGGLWLRQEHFDXVHLW VGHEXJJLQJFRGH\RXKDYHWRUHPRYHLWRUFRPPHQWLWRXWLQWKH
SURGXFWLRQYHUVLRQ$FRPPRQDQGHPEDUUDVVLQJ VRXUFHRIHUURUVLVWRIDLOWRUHPRYHDOO
GHEXJJLQJFRGH
,QVWHDGRIXVLQJDWH[WER[\RXFDQZULWHRXWLQIRUPDWLRQWRWKHHYHQWORJ$GGLQJHYHQW
ORJJLQJWR\RXUDSSOLFDWLRQVLVDFWXDOO\YHU\HDV\7KHUHLVDVLQJOHPHWKRGRIWKH$SSREMHFW
/RJ(YHQWZKLFKLVXVHGZKHQORJJLQJLQIRUPDWLRQIURPD9%DSSOLFDWLRQ7KHIROORZLQJFRGH
H[DPSOHGHPRQVWUDWHVWKHXVHRIWKLVPHWKRG
3XEOLF&RQVWYE/RJ(YHQW7\SH,QIRUPDWLRQ
3ULYDWH6XEFPG&UHDWH/RJB&OLFN
$SS/RJ(YHQW7KLVLVDWHVWYE/RJ(YHQW7\SH,QIRUPDWLRQ
(QG6XE
7KHILUVWSDUDPHWHURIWKH/RJ(YHQWPHWKRGLVWKHWH[WVWULQJWKDWLVVHQWWRWKHHYHQWORJ7KH
VHFRQGSDUDPHWHULVRQHRIIROORZLQJWKUHHYDOXHV
3XEOLF&RQVWYE/RJ(YHQW7\SH(UURU (UURUPHVVDJH
3XEOLF&RQVWYE/RJ(YHQW7\SH:DUQLQJ :DUQLQJPHVVDJH
3XEOLF&RQVWYE/RJ(YHQW7\SH,QIRUPDWLRQ ,QIRUPDWLRQDOPHVVDJH
,WLVLPSRUWDQWWRNHHSWKHIROORZLQJLQPLQGZKHQXVLQJHYHQWORJJLQJ • • •
(YHQWORJJLQJZRUNVRQO\LQFRPSLOHGDSSOLFDWLRQV
7KH6RXUFHFROXPQLQWKH(YHQW9LHZHUIRUDQ\9%DSSOLFDWLRQHQWU\LVDOZD\VVHWWR
9%5XQWLPH
6WDUW/RJJLQJPHWKRGZKLFKKDVWKHIROORZLQJV\QWD[ 6WDUW/RJJLQJV/RJ7DUJHWO/RJ0RGHV
•
ZKHUHV/RJ7DUJHWLVDVWULQJFRQWDLQLQJWKHSDWKDQGILOHQDPHRIWKHORJILOHDQG
O/RJ0RGHVLVRQHRUPRUHRIWKHIROORZLQJLQWULQVLFFRQVWDQWV vbLogAuto (0)
2Q:LQGRZV[ORJVPHVVDJHVWRWKHILOHVSHFLILHGLQWKH/RJ)LOHSURSHUW\2Q
:LQGRZV17ORJVPHVVDJHVWRWKH$SSOLFDWLRQ(YHQW/RJZLWK9%5XQ7LPH
XVHGDVWKHDSSOLFDWLRQVRXUFHDQG$SS7LWOHDSSHDULQJLQWKHGHVFULSWLRQ vbLogOff (1)
7XUQVDOOORJJLQJRIIDQGFDXVHVVXEVHTXHQWFDOOVWRWKH/RJ(YHQWPHWKRGWREH
LJQRUHG vbLogToFile (2)
)RUFHVORJJLQJWRDILOHVSHFLILHGE\/RJ3DWK VbLogToNT (3)
)RUFHVORJJLQJWRWKH17HYHQWORJ,IQRWUXQQLQJRQ:LQGRZV17RULIWKHHYHQWORJ
LVXQDYDLODEOHORJJLQJLVLJQRUHGDQGWKHSURSHUW\LVVHWWRYE/RJ2II VbLogOverwrite (16)
)RU:LQGRZV[RQO\LQGLFDWHVWKDWORJILOHVKRXOGEHUHFUHDWHGHDFKWLPHWKH
DSSOLFDWLRQVWDUWV%\GHIDXOWLWHPVDUHDSSHQGHGWRWKHORJ 7KLVYDOXHFDQEH
25HGZLWKRWKHUFRQVWDQWV VbLogThreadID (32)
,QGLFDWHVWKDWWKHFXUUHQWWKUHDG,'EHSUHSHQGHGWRWKHPHVVDJHLQWKHIRUP
>7QQQ@7KLVYDOXHFDQEH25HGZLWKRWKHUFRQVWDQWV •
,I\RXGRQRWXVH6WDUW/RJJLQJWRRYHUULGHWKHGHIDXOWVHWWLQJVIRUWKH(YHQW9LHZHU
WKHORJHQWULHVJRWRWKHHYHQWORJRQ:LQGRZV17DQGWKH9%(YHQWVORJILOHLQ
WKH6\VWHP5RRWGLUHFWRU\RQD:LQGRZV[V\VWHP
7KHEHDXW\RIXVLQJWKLVPHWKRGIRUORJJLQJLQIRUPDWLRQLVWKDWLI\RXUDSSOLFDWLRQFUDVKHV
LQIRUPDWLRQFDQEHZULWWHQWRWKHORJILOHXSWRWKHSRLQWWKDWLWFUDVKHGRUIUR]H8VXDOO\ZKHQ
DQDSSOLFDWLRQFUDVKHVLWVWRSVDFFHSWLQJPHVVDJHV:KHQWKLVKDSSHQVWKHZLQGRZIDLOVWR
XSGDWHSURSHUO\7KLVSUHYHQWV\RXIURPYLHZLQJWKHLQIRUPDWLRQVHQWWRDWH[WER[
LPPHGLDWHO\EHIRUHWKHDSSOLFDWLRQFUDVKHG7KHODVWOLQHVRILQIRUPDWLRQLQ\RXUORJILOHDUH
XVXDOO\WKHPRVWFULWLFDO7KH\FDQKHOS\RXSLQSRLQWZKHUHWKHFUDVKRFFXUUHGDQGZKDW
YDOXHVZHUHFRQWDLQHGLQWKHYDULDEOHVEHIRUHWKHFUDVK
0LFURVRIW7RROV 0LFURVRIWSURYLGHVVRPHXVHIXOGHEXJJLQJWRROVDORQJZLWKLWVGHYHORSPHQWSURGXFWV
ILQGWKHVHWRROVRQ0LFURVRIW VZHEVLWH7KH\DOVRDUHEXQGOHGZLWK9LVXDO&DQG9%
6S\ 6S\LVRQHRIWKHPRVWXVHIXOWRROVWRJLYHXVLQVLJKWRQKRZRXUDSSOLFDWLRQLVVWUXFWXUHG
DVZHOODVWRDOORZXVWRH[DPLQHWKHPHVVDJHVRXUDSSOLFDWLRQLVUHFHLYLQJ,KDYHSURYLGHG
DQLQWURGXFWLRQWRXVLQJWKLVWRROLQ&KDSWHU7KURXJKRXWPDQ\RIWKHFKDSWHUV,KDYH GHVFULEHGVSHFLILFXVHVRIWKLVWRRODVLWUHODWHVWRHDFKFKDSWHU VWRSLF
'%*:352&'// 7KLVWRROZKLFK0LFURVRIWGHVLJQHGLVDYDLODEOHDW
KWWSPVGQPLFURVRIWFRPYEDVLFGRZQORDGVFRQWUROVDVS7KLVWRROLVSURYLGHG IUHHRIFKDUJH
7KLVLVVLPSO\D&RPSRQHQW2EMHFW0RGHO&20 '//WKDW\RXDGGWR\RXUDSSOLFDWLRQ
QHHGWRDGGYHU\OLWWOHFRGHWRDOORZ\RXUDSSOLFDWLRQWRXVHWKLV'//
7RLQFRUSRUDWHWKLV'//LQWR\RXUDSSOLFDWLRQUHJLVWHULWXVLQJUHJVYUH[HDQGDGGLWWR\RXU
SURMHFWUHIHUHQFHVE\FKHFNLQJWKH'HEXJ2EMHFWIRU$GGUHVV2I6XEFODVVLQJRSWLRQLQWKH
5HIHUHQFHVGLDORJ&OLFNRQWKH0DNHWDELQWKH3URMHFW3URSHUWLHVGLDORJER[$GGWKHWH[W '(%8*:,1'2:352& 86(*(73523
WRWKH&RQGLWLRQDO&RPSLODWLRQWH[WER[)RUWKHUHOHDVHYHUVLRQRIWKLVDSSOLFDWLRQ\RXVKRXOG
FKDQJHWKHYDOXHVWR]HURHVDQGUHPRYHWKHUHIHUHQFHWR'%*:352&'//
1H[W\RXPXVWFUHDWHDQREMHFWPB'EJ+RRNIURPWKH:LQGRZ3URF+RRNFODVV
,I'(%8*:,1'2:352&7KHQ
(QG,I
3ULYDWHPB'EJ+RRN$V:LQGRZ3URF+RRN
,IZHDUHQRWXVLQJ'%*:352&'//ZHFDQFDOO6HW:LQGRZ/RQJ3WUDVZHQRUPDOO\ZRXOG
WRVXEFODVVDZLQGRZ2WKHUZLVHZHVHWXS'%*:352&'//WRFRQWUROWKHVXEFODVVLQJDV
LQWKHIROORZLQJFRGH
,I'(%8*:,1'2:352&7KHQ 2Q(UURU5HVXPH1H[W
6HWPB'EJ+RRN &UHDWH:LQGRZ3URF+RRN
,I(UU7KHQ
0VJ%R[(UU'HVFULSWLRQ
(UU&OHDU
'LVDEOH6XEFODVV 5HSODFHZLWK\RXURZQGLVDEOHVXEFODVVIXQFWLRQ
([LW)XQFWLRQ
(QG,I
2Q(UURU*R7R
:LWKPB'EJ+RRN
6HW0DLQ3URF$GGUHVV2I0RGXOH1HZ:QG3URF 5HSODFHZLWK\RXUZLQSURF
PBO2ULJ:QG3URF 6HW:LQGRZ/RQJ3WUPBKZQG*:/3B:1'352&3URF$GGUHVV 6HW'HEXJ3URFPBO2ULJ:QG3URF
(QG:LWK (OVH
PBO2ULJ:QG3URF 6HW:LQGRZ/RQJ3WUPBKZQG*:/3B:1'352&$GGUHVV2I 0RGXOH1HZ:QG3URF (QG,I
7KHPRVWUHOHYDQWFRGHLVZLWKLQWKH:LWKPB'EJ+RRNFRGHEORFN7KHILUVWOLQHLQWKLVEORFN
RIFRGHVWRUHVWKHDGGUHVVRI\RXUVXEFODVVZLQGRZSURFHGXUHLQWKH'//LQWKLVFDVHLWLV
WKHDGGUHVVRIWKH0RGXOH1HZ:QG3URFIXQFWLRQ7KHVHFRQGOLQHXVHVWKHIDPLOLDU
6HW:LQGRZ/RQJ3WUWRLQLWLDWHWKHVXEFODVVLQJH[FHSWWKDWWKHDGGUHVVRIWKHQHZZLQGRZ
SURFHGXUHLVQRWRXUIXQFWLRQLQVWHDGLWLVVHWWR3URF$GGUHVVZKLFKLVDUHDGRQO\SURSHUW\
RIWKH'//WKDWFRQWDLQVDQDGGUHVVWRDIXQFWLRQZLWKLQWKH'//7KLVLVWKHDFWXDOVXEFODVV
ZLQGRZSURFHGXUHWKDWLVFDOOHGIRURXUZLQGRZ)LQDOO\WKHRULJLQDOZLQGRZSURFHGXUHLV
VWRUHGLQWKH'//WKURXJKWKH6HW'HEXJ3URFIXQFWLRQ
7KLVLVKRZWKH'//ZRUNV
6XEFODVVLQJLVLQLWLDWHGDVLQWKHSUHYLRXVFRGH
:KHQDPHVVDJHLVVHQWWRWKHVXEFODVVHGZLQGRZLWDUULYHVLQWKHVXEFODVVZLQGRZ SURFHGXUHGHILQHGE\WKH3URF$GGUHVVSURSHUW\
7KHVXEFODVVHGZLQGRZSURFHGXUHWKHQGHWHUPLQHVZKHUHWRVHQGWKHPHVVDJH D ,IWKH$GGUHVV2IRSHUDWRUUHWXUQVD]HURWRWKH6HW0DLQ3URFPHWKRGWKH
RULJLQDOZLQGRZSURFHGXUHLVFDOOHG7KHRULJLQDOZLQGRZSURFHGXUHIXQFWLRQ
DGGUHVVZDVVHQWWRWKH6HW'HEXJ3URFPHWKRGRIWKH'//
E 2WKHUZLVHRXUVXEFODVVZLQGRZSURFHGXUHLVFDOOHG7KLVLVWKHIXQFWLRQ DGGUHVVVHQWWRWKH6HW0DLQ3URFPHWKRGRIWKH'//
7KHRULJLQDOLQWHQWRIWKLV'//ZDVWRFLUFXPYHQWWKHHUURUFDXVHGE\WKH$GGUHVV2IRSHUDWRU
UHWXUQLQJD]HURZKLOHUXQQLQJZLWKLQWKH9%,'(2GGO\HQRXJK,GLVFRYHUHGWKDW$GGUHVV2I
UHWXUQVDYDOLGIXQFWLRQSRLQWHUZKLOHUXQQLQJZLWKLQWKH,'(DOWKRXJKWKLVPLJKWZRUN
GLIIHUHQWO\IRU9%SULRUWR9HUVLRQ
UHWXUQVDYDOLGIXQFWLRQDGGUHVV7KHDQVZHULVWKDWXVLQJWKLV'//VROYHVWKHSUREOHPRIWKH
FRGHZLQGRZDQGWKHDSSOLFDWLRQZLQGRZFRPSHWLQJWREHWKHDFWLYHZLQGRZZKHQVWHSSLQJ
WKURXJKWKHFRGH7KLVPDNHVLWPXFKHDVLHUDQGVDIHUWRVWHSWKURXJKFRGHZKLOHLQWKH9%
,'(
1X0HJD V6PDUW&KHFN ,KDYHQRWPHQWLRQHGWKLVWRROPXFKDOWKRXJK,XVHLWIUHTXHQWO\6PDUW&KHFNSURYLGHVGHEXJ
LQIRUPDWLRQDERXWD9%DSSOLFDWLRQGXULQJUXQWLPH7KLVWRROLVLQYDOXDEOHLQGHEXJJLQJ
DSSOLFDWLRQFUDVKHVHUURQHRXVDSSOLFDWLRQSURJUDPPLQJLQWHUIDFH$3, FDOOVDQGPXFK
PRUH
%HVLGHVSRLQWLQJRXWDSSOLFDWLRQHUURUV6PDUW&KHFNDOVRGLVSOD\V$3,IXQFWLRQVIXQFWLRQ
SDUDPHWHUVUHWXUQYDOXHVDQGHYHQWKHGDWDWRZKLFKDSRLQWHUSRLQWV7KLVLVYHU\XVHIXO
ZKHQGHWHUPLQLQJLIWKHVWULQJGDWDRUDVWUXFWXUHSRLQWHGWRE\DSRLQWHUFRQWDLQVWKHFRUUHFW
LQIRUPDWLRQ)LJXUHGLVSOD\VDVFUHHQVKRWRI6PDUW&KHFN
)LJXUH6FUHHQVKRWRIWKH6PDUW&KHFNGHEXJJLQJWRRO
7RLOOXVWUDWHZKDWW\SHRILQIRUPDWLRQ6PDUW&KHFNSURYLGHV\RXZLWKDQGZKDWD9%
VXEFODVVLQJDSSOLFDWLRQORRNVOLNHRQWKHLQVLGH,ZLOOVWHSWKURXJKWKHRXWSXWRIDSUHYLRXV
H[DPSOHDSSOLFDWLRQ7KHH[DPSOHDSSOLFDWLRQ,ZLOOH[DPLQHLVWKH0LQLPL]HEXWWRQ
VXEFODVVLQJH[DPSOHRI&KDSWHU)LJXUHVKRZVDVFUHHQVKRWRIWKLVDSSOLFDWLRQ )LJXUH7KH0LQLPL]HVXEFODVVLQJH[DPSOHDSSOLFDWLRQRI&KDSWHU
,ZLOOUXQWKLVDSSOLFDWLRQXQGHU6PDUW&KHFNVXEFODVVWKH0LQLPL]HEXWWRQUHPRYHWKH
VXEFODVVLQJDQGWKHQVKXWGRZQWKHDSSOLFDWLRQ%HIRUHVKXWWLQJGRZQWKHDSSOLFDWLRQ,ZLOO
XVH6S\WRJHWWKHZLQGRZKDQGOHVRIDOOZLQGRZVEHORQJLQJWRWKLVDSSOLFDWLRQ7KH
ZLQGRZVDQGWKHLUKDQGOHVDUHOLVWHGLQ7DEOH.QRZLQJWKLVLQIRUPDWLRQDOORZVXVWR GHWHUPLQHRQZKLFKZLQGRZWKHDFWLRQLVWDNLQJSODFH
7DEOH:LQGRZ+DQGOHVIRUWKH([DPSOH$SSOLFDWLRQ +ZQG
:LQGRZ'HVFULSWLRQ
+
7KXQGHU57)RUP'&WKHRQO\9%IRUPLQWKHSURMHFW
+$
7KXQGHU57(GLWWKHRQO\WH[WER[RQWKHIRUP
+(
7KXQGHU57&RPPDQG%XWWRQWKH8Q6XEFODVVEXWWRQ
+%&
7KXQGHU57&RPPDQG%XWWRQWKH6XEFODVVEXWWRQ
+
9%%XEEOH57
+$
2OH0DLQ7KUHDG:QG1DPH
+
7KXQGHU570DLQ
+(
9%0VR6WG&RPS0JU
+&
9%)RFXV57
([DPLQLQJWKHRXWSXWIURP6PDUW&KHFNVKRZVWKDWRQHRIWKHILUVWWKLQJV9%GRHVLVFUHDWH WKH7KXQGHU570DLQZLQGRZ7KLVZLQGRZRZQVWKHRWKHUDSSOLFDWLRQZLQGRZV$IWHUWKLV
ZLQGRZLVGHVWUR\HGWKHDSSOLFDWLRQVKXWVGRZQDQGXQORDGVLWVHOIIURPPHPRU\$IWHUWKLV
ZLQGRZLVFUHDWHGWKHLQLWLDOIRUPLVFUHDWHGIURPWKH7KXQGHU57)RUP'&FODVV7KLV
SURFHVVLVLOOXVWUDWHGLQ)LJXUHLQZKLFKDZLQGRZSDQHLFRQLQGLFDWHVDPHVVDJHWKDW
KDVEHHQKDQGOHGE\DZLQGRZSURFHGXUH$GLDPRQGLFRQLQGLFDWHV$3,FDOOV/LJKWQLQJEROW
LFRQVLQGLFDWHD9%HYHQWEHLQJILUHG9%SHUIRUPVWKHFDOOWR&UHDWH:LQGRZ([$/LQH WR
FUHDWHWKH7KXQGHU57)RUP'&ZLQGRZLQPHPRU\
WKH069%90'//PRGXOHIURPWKHK,QVWDQFHDUJXPHQWWRWKLVIXQFWLRQWKLVDUJXPHQWDQG
VHYHUDORWKHUVDUHGLVSOD\HGRIIWKHHGJHRIWKHVFUHHQ ,WLVZKLFKLVWKHVDPH
K,QVWDQFHDVWKLV'//
9LVXDO&
)LJXUH6PDUW&KHFNRXWSXWIRUFUHDWLQJD9%IRUP
:KLOHZLWKLQWKH&UHDWH:LQGRZ([$IXQFWLRQZHFDQVHHWKDWVHYHUDOPHVVDJHVDUHKDQGOHG
DQGRWKHU$3,FDOOVDUHPDGH)LUVWWKH:0B*(70,10$;,1)2PHVVDJHLVVHQWWRWKHQHZO\
FUHDWHGZLQGRZ$WWKLVSRLQWZHNQRZWKDWWKHZLQGRZSURFHGXUHIRUWKLVZLQGRZZDV
FUHDWHGEHFDXVHLWLVDFFHSWLQJWKLVPHVVDJH7KHQH[WPHVVDJHWKDW&UHDWH:LQGRZ([$
VHQGVWRWKLVZLQGRZSURFHGXUHLVWKH:0B1&&5($7(PHVVDJH1RWLFHWKDWDIWHUWKH
ZLQGRZSURFHGXUHSURFHVVHVWKLVPHVVDJHLWSDVVHVLWRQWRWKH'HI:LQGRZ3URF$IXQFWLRQ
IRUGHIDXOWSURFHVVLQJ/LQH
WLPHVLQDQDSSOLFDWLRQEHFDXVHLWFRQWDLQVWKHGHIDXOWIXQFWLRQDOLW\IRUDOOZLQGRZV
'HI:LQGRZ3URF$UHWXUQVDIRUWKH:0B1&&5($7(PHVVDJH7KLVDOORZVZLQGRZFUHDWLRQ
WRFRQWLQXH,ID]HURZDVUHWXUQHGWKH&UHDWH:LQGRZ([$IXQFWLRQZRXOGKDYHVWRSSHGWKH
FUHDWLRQRIWKLVZLQGRZDQGUHWXUQHGFRQWUROWRWKHFDOOLQJSURFHGXUH
1H[WWKLVQHZZLQGRZSURFHVVHVWKH:0B1&&$/&6,=(PHVVDJH/LQH IROORZHGE\
WKH:0B&5($7(PHVVDJH/LQH :KHQWKHZLQGRZSURFHGXUHSURFHVVHVWKH
:0B&5($7(PHVVDJHLWFDOOVWKH*HW6\VWHP0HQXDQG6HW:LQGRZ&RQWH[W+HOS,GIXQFWLRQV
EHIRUHVHQGLQJWKHPHVVDJHRQWRWKH'HI:LQGRZ3URF$IXQFWLRQ/LQH 7KH
*HW6\VWHP0HQXIXQFWLRQPDNHVDFRS\RIWKHV\VWHPPHQXWREHXVHGE\WKLVZLQGRZ7KH
6HW:LQGRZ&RQWH[W+HOS,GIXQFWLRQUHWXUQVDQ\KHOSFRQWH[W,'IRUWKHZLQGRZVSHFLILHGE\WKH
KZQGDUJXPHQW
$IWHUWKH'HI:LQGRZ3URF$IXQFWLRQUHWXUQVVXFFHVVIXOO\WKH&UHDWH:LQGRZ([$IXQFWLRQ
UHWXUQVH[HFXWLRQWRLWVFDOOLQJIXQFWLRQ7KHUHWXUQYDOXHIRUWKLVIXQFWLRQLVWKHKDQGOHRIWKH
QHZO\FUHDWHGZLQGRZ/LQH
)LJXUHVKRZVKRZDFDOOFDQEHQHVWHGZLWKLQDQRWKHUIXQFWLRQFDOO,QWKLVVDPSOH
RXWSXWWKHPDLQZLQGRZLVEHLQJDFWLYDWHG:HNQRZLWLVWKHPDLQZLQGRZIURPWKH+:1'
DUJXPHQWRIWKH:0B1&$&7,9$7(PHVVDJH/LQH 7KLVPHVVDJHKDVFRPSOHWHGLWV
SURFHVVLQJLQWKHZLQGRZSURFHGXUHDVVRFLDWHGZLWKWKLV+:1'$FDOOLVWKHQPDGHWR
'HI:LQGRZ3URF$/LQH :KLOHZLWKLQWKLVIXQFWLRQWKH:0B*(77(;7PHVVDJHLVVHQW
WRWKHZLQGRZSURFHGXUHRIWKHPDLQZLQGRZYLDWKH6HQG0HVVDJHIXQFWLRQ/LQH :H NQRZWKDWWKH6HQG0HVVDJHIXQFWLRQLVXVHGEHFDXVHWKHPHVVDJHLVLPPHGLDWHO\
SURFHVVHG,IWKHPHVVDJHZHUHSRVWHGZHZRXOGVHHLWSURFHVVHGODWHURQE\WKHPHVVDJH
ORRS,ZLOOGLVFXVVWKHPHVVDJHORRSODWHULQWKLVFKDSWHU
)LJXUH1HVWHGIXQFWLRQFDOOV
7KH:0B1&$&7,9$7(PHVVDJHFKDQJHVWKHQRQFOLHQWDUHDRIDZLQGRZWRHLWKHUDQDFWLYH
RULQDFWLYHVWDWH7KHZ3DUDPRIWKLVPHVVDJHLVVHWWR7UXHWHOOLQJXVWKDWWKHDFWLYHWLWOHEDU
QHHGVWREHUHGUDZQ%HIRUHUHGUDZLQJWKHWLWOHEDUWKHV\VWHPQHHGVWRJHWDQGVWRUHWKH
ZLQGRZFDSWLRQVRWKDWLWFDQEHUHSODFHGDIWHUWKHQRQFOLHQWDUHDLVUHGUDZQ7RGRWKLVWKH
'HI:LQGRZ3URF$IXQFWLRQVHQGVWKH:0B*(77(;7PHVVDJHWRUHWULHYHWKHZLQGRZFDSWLRQ
RIWKHPDLQZLQGRZ/LQH 'HI:LQGRZ3URF$LVFDOOHGDJDLQIURPZLWKLQWKHZLQGRZ
SURFHGXUHZKLOHLWLVSURFHVVLQJWKH:0B*(77(;7PHVVDJH/LQH
'HI:LQGRZ3URF$LVDUHHQWUDQWIXQFWLRQ,QRWKHUZRUGVEHIRUHWKHFRGHLQWKLVIXQFWLRQLV
ILQLVKHGH[HFXWLQJLWFRXOGEHFDOOHGDJDLQ7REHUHHQWUDQWWKHIXQFWLRQQHHGVWREHDEOHWR
VDYHLWVVWDWHSURFHVVWKHQHVWHGIXQFWLRQFDOODQGWKHQUHVWRUHLWVVWDWHDQGFRQWLQXH
H[HFXWLQJ
$IWHUWKHLQQHU'HI:LQGRZ3URF$IXQFWLRQLVILQLVKHG/LQH LWUHWXUQVFRQWUROWRWKHRXWHU
'HI:LQGRZ3URF$IXQFWLRQ/LQH :KHQWKHGHIDXOWSURFHVVLQJLVILQLVKHGIRUWKH
:0B1&$&7,9$7(PHVVDJHWKHRXWHU'HI:LQGRZ3URF$IXQFWLRQUHWXUQVDQGWKHQWKH
DSSOLFDWLRQSURFHHGVWRDFWLYDWHLWVFOLHQWDUHDE\VHQGLQJWKH:0B$&7,9$7(PHVVDJH/LQH
7KHQH[WWKLQJ,ZDQWWRVKRZ\RXLVWKH9%PHVVDJHORRS7KH9%PHVVDJHORRSZKLFKLV VKRZQLQ)LJXUHLVQRWTXLWHOLNHWKHPHVVDJHORRSV,KDYHSUHYLRXVO\VKRZQ\RX$V
\RXFDQVHHWKHUHLVQR*HW0HVVDJHIXQFWLRQLQWKLVORRS,QVWHDG3HHN0HVVDJHLVXVHG/LQH
7KLVIXQFWLRQLVGHILQHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ3HHN0HVVDJH/LEXVHU$OLDV3HHN0HVVDJH$B
,WVSDUDPHWHUVDUH OS0VJ KZQG
OS0VJ$V06*%\9DOKZQG$V/RQJ%\9DOZ0VJ)LOWHU0LQ$V/RQJB
%\9DOZ0VJ)LOWHU0D[$V/RQJ%\9DOZ5HPRYH0VJ$V/RQJ $V/RQJ
$ORQJSRLQWHUWRDQ06*VWUXFWXUH 7KHKDQGOHRIWKHZLQGRZZKRVHPHVVDJHVDUHWREHUHDGIURPWKHTXHXH,IWKLVLV
]HURDOOPHVVDJHVZLOOEHUHDG
Z0VJ)LOWHU0LQ
7KHPLQLPXPPHVVDJHYDOXHWKDWLVUHDGIURPWKHPHVVDJHTXHXH
Z0VJ)LOWHU0D[
7KHPD[LPXPPHVVDJHYDOXHWKDWLVUHWULHYHGIURPWKHPHVVDJHTXHXH,IWKLVYDOXH
LV]HURDOOPHVVDJHVVWDUWLQJZLWKWKHZ0VJ)LOWHU0LQYDOXHDUHUHDGIURPWKH
PHVVDJHTXHXH
Z5HPRYH0VJ
,IWKLVLVVHWWRWKHPHVVDJHLVUHDGDQGWKHQUHPRYHGIURPWKHTXHXH,IWKLVLVVHW
WRWKHPHVVDJHLVUHDGEXWOHIWRQWKHTXHXH
)LJXUH7KH9%PHVVDJHORRS
,IWKHUHDUHQRPHVVDJHVRQWKHTXHXHWKHUHWXUQYDOXHIRUWKLVIXQFWLRQLV]HUR$QRQ]HUR
UHWXUQYDOXHPHDQVWKDWDPHVVDJHZDVUHDGIURPWKHTXHXH
,IZHZHUHWRZULWHWKLVPHVVDJHORRSLQ9%LWZRXOGORRNVRPHWKLQJOLNHWKLV
6XE0DLQ9%0HVVDJH/RRS
:KLOH758(
:KLOH3HHN0HVVDJHVWUXFW0VJ
,IVWUXFW0VJPHVVDJH :0B48,77KHQ
([LW)XQFWLRQ
(OVH
,I,V:LQGRZ$QG1RW,V,FRQLF WKHQ
7UDQVODWH0HVVDJHVWUXFW0VJ
'LVSDWFK0HVVDJHVWUXFW0VJ
(QG,I
(QG,I
/RRS
,I%DFNJURXQG3URFHVVLQJ5HDG\ 7KHQ 'R%DFN*URXQG3URFHVVLQJ
(OVH
:DLW0HVVDJH
(QG,I
/RRS
(QG6XE
3HHN0HVVDJHLVW\SLFDOO\XVHGLQPHVVDJHORRSVIRUDSSOLFDWLRQVWKDWQHHGWRGREDFNJURXQG
SURFHVVLQJ%RWK3HHN0HVVDJHDQG*HW0HVVDJHRSHUDWHLQDVLPLODUIDVKLRQWKDWLVXQWLO
WKHUHDUHQRPRUHPHVVDJHVWREHSURFHVVHG:KHQWKHUHDUHQRPRUHPHVVDJHVLQWKH
TXHXHWKH*HW0HVVDJHIXQFWLRQZLOOQRWUHWXUQFRQWUROWRWKHDSSOLFDWLRQDQGLQVWHDGSODFHV
WKHDSSOLFDWLRQLQDVOHHSVWDWH:KLOHDQDSSOLFDWLRQLVVOHHSLQJLWZLOOQRWXVHXS&38
SURFHVVLQJF\FOHV&RQYHUVHO\WKH3HHN0HVVDJHIXQFWLRQZLOOUHWXUQFRQWUROWRWKH
DSSOLFDWLRQDQGLWZLOOQRWSODFHWKHDSSOLFDWLRQLQDVOHHSVWDWH,IWKHUHDUHQRPHVVDJHVWR EHSURFHVVHGWKLVORRSZLOOHDWXS&38SURFHVVLQJF\FOHVWKDWFRXOGEHXVHGE\RWKHU
DSSOLFDWLRQV7RVWRSWKLVIURPKDSSHQLQJZHFDQFDOOWKH:DLW0HVVDJHIXQFWLRQ7KLV
IXQFWLRQWDNHVQRDUJXPHQWVDQGUHWXUQVRQO\ZKHQDPHVVDJHLVSODFHGLQWKHPHVVDJH
TXHXH7KHUHWXUQYDOXHRIWKLVIXQFWLRQLVRIW\SH%RROHDQ%\SXWWLQJWKHDSSOLFDWLRQWRVOHHS
ZLWK:DLW0HVVDJHZHGRQRWWLHXSWKH&38ZLWKQHHGOHVVSURFHVVLQJ
:KHQXVLQJ3HHN0HVVDJHLQWKHPHVVDJHORRSZHDOVRQHHGWRPDQXDOO\FKHFNIRUWKH
:0B48,7PHVVDJH7KLVPHVVDJHVUHWXUQV)DOVHWRERWK*HW0HVVDJHDQG3HHN0HVVDJH
*HW0HVVDJHDOVRZLOOUHWXUQWKLVYDOXHDQGDXWRPDWLFDOO\H[LWWKHPHVVDJHORRS
3HHN0HVVDJHUHWXUQV7UXHZKHQLWSURFHVVHVWKLVPHVVDJHDQGWKHPHVVDJHORRSLVQRW
H[LWHG3HHN0HVVDJHUHWXUQV)DOVHRQO\ZKHQQRPHVVDJHVDUHLQWKHPHVVDJHTXHXH
)LJXUHVKRZVDQRWKHUYLHZRIWKH9%PHVVDJHORRSRQO\WKLVWLPHLWLVSURFHVVLQJD :0B3$,17 +) PHVVDJHIRUWKH(GLWFRQWURO3HHN0HVVDJHLQWKLVORRSIRXQGDQG
UHPRYHGD:0B3$,17PHVVDJHRQWKHPHVVDJHTXHXH/LQH ,V:LQGRZDQG,V,FRQLF
DUHFDOOHGWRGHWHUPLQHLIWKLVLVWKHKDQGOHWRDQH[LVWLQJZLQGRZDQGLIVRLILWLVLQDQLFRQLF
VWDWH/LQHVDQG %HFDXVHLWLVDQH[LVWLQJZLQGRZDQGWKLVZLQGRZLVQRW
LFRQL]HGH[HFXWLRQFRQWLQXHVWRWKH7UDQVODWH0HVVDJHIXQFWLRQ/LQH 7KLVLVQRWD
NH\ERDUGLQSXWPHVVDJHVRWKLVIXQFWLRQUHWXUQVZLWKRXWKDQGOLQJWKHPHVVDJH([HFXWLRQ
FRQWLQXHVRQWRWKH'LVSDWFK0HVVDJHIXQFWLRQ7KLVIXQFWLRQVHQGVWKHPHVVDJHWRWKH
DSSURSULDWHZLQGRZSURFHGXUH/LQHRI)LJXUHVKRZVWKH:0B3$,17PHVVDJHV EHLQJSURFHVVHGE\WKH(GLWFRQWURO7KHSURFHVVLQJRIWKLVPHVVDJHE\WKH(GLWFRQWURO V ZLQGRZSURFHGXUHFDXVHVWKH:0B&7/&2/25(',7PHVVDJHWREHVHQWWRWKHFRQWURO V
SDUHQWZLQGRZ$IWHUZDUGVHYHUDORWKHU$3,IXQFWLRQVDUHFDOOHGHQDEOLQJWKH:0B3$,17
PHVVDJHWRFRPSOHWH
)LJXUH3URFHVVLQJWKH:0B3$,17PHVVDJH
1RZWKDWZHKDYHRXUZLQGRZFUHDWHGDQGRXUPHVVDJHORRSUXQQLQJZHFDQFOLFNWKH
6XEFODVVLQJEXWWRQ)LJXUHVKRZVZKDWKDSSHQVZKHQWKHXVHUFOLFNVWKLVEXWWRQ9%
ILUHVWKHB&OLFNHYHQW7KLVB&OLFNHYHQWLVLQUHVSRQVHWRWKH'LVSDWFK0HVVDJHIXQFWLRQ VHQGLQJWKH:0B/%8772183PHVVDJHWRWKH6XEFODVVEXWWRQ7KH&OLFNHYHQWRIWKH
6XEFODVVEXWWRQFDOOVDIXQFWLRQZKLFKFDOOVWKH6HW:LQGRZ/RQJ3WUIXQFWLRQ7KLVIXQFWLRQLV
PDSSHGWRWKH6HW:LQGRZ/RQJ$IXQFWLRQEHFDXVHZHDUHVWLOOXVLQJELW:LQGRZVWR
SHUIRUPWKHVXEFODVVLQJ
)LJXUH&OLFNLQJWKH6XEFODVVEXWWRQ
)RU9%WRFDOOWKLV$3,IXQFWLRQLWPXVWXVHDQLQWHUQDOPHWKRGFDOOHG'OO)XQFWLRQ&DOOWRORDG
WKH8VHUOLEUDU\DQGJHWDSRLQWHUWRWKH6HW:LQGRZ/RQJ$IXQFWLRQZLWKLQWKLVOLEUDU\7KH
9%'HFODUHVWDWHPHQWIRUWKH6HW:LQGRZ/RQJ3WUIXQFWLRQSURYLGHVWKHLQIRUPDWLRQXVHGE\ 'OO)XQFWLRQ&DOOWRNQRZZKLFKIXQFWLRQLQZKLFKOLEUDU\WRXVH
$IWHULWILQGVWKLVIXQFWLRQ9%FDOOVWKH6HW:LQGRZ/RQJ$IXQFWLRQ/LQH 7KHQHZ
ZLQGRZSURFHGXUHLVSXWLQSODFHDQGWKHDGGUHVVRIWKHROGSURFHGXUHLVUHWXUQHG
VKRXOGPDNHDQRWHRIWKHROGZLQGRZSURFHGXUHSRLQWHUDQGWKHQHZRQH7KLVLQIRUPDWLRQLV
XVHIXOZKHQWKHUHLVDSUREOHPZLWKUHVWRULQJWKHRULJLQDOZLQGRZSURFHGXUH
WKURXJKWKH6PDUW&KHFNRXWSXWWRGHWHUPLQHZKHQWKHODVW6HW:LQGRZ/RQJ$IXQFWLRQZDV
FDOOHG&RPSDUHWKHZLQGRZSURFHGXUHSRLQWHUWKDWZDVVHWKHUHWRWKHRULJLQDOZLQGRZ
SURFHGXUHSRLQWHU,IWKH\DUHQRWWKHVDPH\RXKDYHDSUREOHP
ZK\WKLVKDSSHQHG3HUKDSV\RXORVWWKHRULJLQDOZLQGRZSURFHGXUHSRLQWHURU
6HW:LQGRZ/RQJ$ZDVQRWFDOOHGWRUHVWRUHWKHRULJLQDOZLQGRZSURFHGXUHEHIRUHWKH
DSSOLFDWLRQHQGHG
1H[W9%SHUIRUPVVRPHHUURUFKHFNLQJDQGWKHQUHWXUQVIURPWKHB&OLFNHYHQW
$WWKLVSRLQWRXUVXEFODVVHGZLQGRZSURFHGXUHLVEHLQJFDOOHG7RNHHSWKHRXWSXWRI
6PDUW&KHFNUHODWLYHO\VLPSOHWKHRQO\FRGH,DGGHGWRWKLVIXQFWLRQLV&DOO:LQGRZ3URF
)LJXUHVKRZVWKLV7KHPHVVDJHORRS V3HHN0HVVDJHIXQFWLRQJUDEVD
:0B0286(029(HYHQWIURPWKHPHVVDJHTXHXH/LQH 7KH:0B0286(029(
PHVVDJHLVFRQWDLQHGZLWKLQWKH375DUJXPHQWRIWKH3HHN0HVVDJHIXQFWLRQ6PDUW&KHFN FDQGLVSOD\WKHYDOXHRIWKLVSRLQWHUDVDQ06*VWUXFWXUH
)LJXUH,QVLGHWKHVXEFODVVHGZLQGRZSURFHGXUH
%HFDXVHWKHPRXVHLVPRYLQJDFURVVWKH6XEFODVVEXWWRQKZQG +%& WKH
:0B1&+,77(67/LQH DQG:0B6(7&85625/LQH PHVVDJHVDUHVHQWGLUHFWO\
WRWKLVZLQGRZ+RZHYHUWKH:0B6(7&85625PHVVDJHDOVRLVVHQWWRWKHSDUHQWZLQGRZ
RIWKH6XEFODVVEXWWRQ/LQH 7KHSDUHQWZLQGRZLVWKHZLQGRZWKDWZHMXVWVXEFODVVHG
%HFDXVHWKLVLVWKHILUVWWLPHWKDWWKHVXEFODVVHGZLQGRZSURFHGXUHLVFDOOHGLWZLOOXVHWKH
'OO)XQFWLRQ&DOOPHWKRG/LQH WRORRNXSWKHOLEUDU\DQGDGGUHVVIRUWKH
&DOO:LQGRZ3URF$IXQFWLRQ
,PPHGLDWHO\IROORZLQJWKH'OO)XQFWLRQ&DOOPHWKRGWKHVDPHVXEFODVVHGZLQGRZFRPSDUH
/LQHWR/LQH SURFHVVHVWKH:0B6(7&85625PHVVDJHDVHFRQGWLPH7KHILUVW
WLPHWKHVXEFODVVHGZLQGRZSURFHGXUHLVSURFHVVLQJWKHPHVVDJH7KHVHFRQGWLPHWKH
RULJLQDOZLQGRZSURFHGXUHLVSURFHVVLQJWKHPHVVDJH$IWHUWKHRULJLQDOZLQGRZSURFHGXUH
SURFHVVHVWKLVPHVVDJHLWSDVVHVLWDORQJWRWKH'HI:LQGRZ3URF$IXQFWLRQ/LQH
7KLVLVWKHXVXDORUGHURIHYHQWVLQWKHVXEFODVVZLQGRZSURFHGXUH,IDQ\HYHQWGRHVQRW
RFFXU\RXVKRXOGH[DPLQHWKHSDUDPHWHUVIRUWKHIXQFWLRQVHVSHFLDOO\'HI:LQGRZ3URF$DQG
&DOO:LQGRZ3URF$,IWKHLQFRUUHFWK:QGRUWKHRULJLQDOZLQGRZSURFHGXUHLVQRWEHLQJSDVVHG
LQWRWKHVHIXQFWLRQVFRUUHFWO\SUREOHPVZLOORFFXU$OVRLIWKHVHIXQFWLRQVDUHQRWFDOOHGWKH
RULJLQDOZLQGRZSURFHGXUHZLOOQRWSURFHVVWKHPHVVDJHV7KLVZLOOHIIHFWLYHO\FDXVHWKH
VXEFODVVHGZLQGRZWRQRWUHVSRQGWRWKRVHPHVVDJHVWKDWWKHRULJLQDOZLQGRZSURFHGXUHGLG
QRWSURFHVV
6RPHWLPHVWKHRULJLQDOZLQGRZSURFHGXUHLVFDOOHGDWWKHZURQJWLPH)RUH[DPSOHLI
&DOO:LQGRZ3URF$RU'HI:LQGRZ3URF$LVFDOOHGDKHDGRIWKHVXEFODVVZLQGRZSURFHGXUHWKH
ZLQGRZZLOOSURFHVVWKHPHVVDJHDVLWQRUPDOO\ZRXOGEHIRUHWKHVXEFODVVZLQGRZSURFHGXUH
JHWVDFKDQFHWRSURFHVVLW,IWKHVXEFODVVZLQGRZSURFHGXUHPRGLILHVDQ\PHVVDJH
SDUDPHWHUVWKHSDUDPHWHUVZLOOQHYHUEHSDVVHGLQWRWKHRULJLQDOZLQGRZSURFHGXUH7RIL[
WKLVSUREOHP\RXQHHGWRSODFHWKH&DOO:LQGRZ3URF$RU'HI:LQGRZ3URF$IXQFWLRQVDWWKH HQGRIWKHVXEFODVVZLQGRZSURFHGXUH
7KHODVWOLQHLVWKH'LVSDWFK0HVVDJHIXQFWLRQ7KLVIXQFWLRQFDQQRZSURFHVVWKHRULJLQDO
PHVVDJHWKDW3HHN0HVVDJHSXOOHGIURPWKHTXHXHZKLFKZDVWKH:0B0286(029(
PHVVDJHIRUWKH6XEFODVVEXWWRQ
7KLVRXWSXWFDQEHXVHIXOLQGHWHUPLQLQJWKHW\SHVRIPHVVDJHVWKDWWKHZLQGRZSURFHGXUHLV
SURFHVVLQJDQGWKHRUGHULQZKLFKWKH\DUHSURFHVVHG,I\RXUDSSOLFDWLRQGLVSOD\VRGG
EHKDYLRU\RXFDQGHWHUPLQHWKHPHVVDJHRUPHVVDJHVWKDWDUHEHLQJSURFHVVHGE\WKH
ZLQGRZSURFHGXUHGXULQJWKHRGGEHKDYLRU$V,SUHYLRXVO\PHQWLRQHGVRPHPHVVDJHVDV
WKH\DUHSURFHVVHGFDQSURGXFHRWKHUPHVVDJHV7KHVHQHZPHVVDJHVFDQFDXVHWKHRGG
EHKDYLRU
,WLVHYHQSRVVLEOHWRJHWVWXFNLQDQLQILQLWHORRSZLWKLQWKHZLQGRZSURFHGXUH7KLVSUREOHP
ZLOOPRVWOLNHO\FDXVHDVWDFNRYHUIORZH[FHSWLRQLQ\RXUDSSOLFDWLRQDQGVKXWLWGRZQ
3UREOHPVVXFKDVWKHVHFDQEHWUDFNHGGRZQIDLUO\HDVLO\XVLQJ6PDUW&KHFN
,QWKHQH[WVHFWLRQRIGHEXJJHURXWSXW,FOLFNWKH8Q6XEFODVVEXWWRQ7KHUHVXOWLVWKHRXWSXW
VKRZQLQ)LJXUH7KH3HHN0HVVDJHIXQFWLRQQRWVKRZQ SXOOVWKH:0B/%8772183
PHVVDJHIURPWKHTXHXHDQGSDVVHVLWWR'LVSDWFK0HVVDJH/LQH 7KLVPHVVDJHLVLQ
UHVSRQVHWRWKHXVHUFOLFNLQJDQGUHOHDVLQJWKHOHIWPRXVHEXWWRQZKLOHRYHUWKH8Q6XEFODVV
EXWWRQ7KH'LVSDWFK0HVVDJHIXQFWLRQWKHQVHQGVWKH:0B/%8772183PHVVDJHWRWKH
ZLQGRZSURFHGXUHRIWKH8Q6XEFODVVEXWWRQ7KLVFDXVHVDFKDLQRIHYHQWVWRRFFXUZKLFK
HQGVXSZLWKWKHB&OLFNHYHQWEHLQJUDLVHGIRUWKLVEXWWRQFRQWURO/LQH 7KHFRGHLQWKLV
HYHQWVLPSO\FDOOVWKH6HW:LQGRZ/RQJ3WUIXQFWLRQWRUHPRYHWKHVXEFODVVLQJ/LQH )LJXUH&OLFNWKH8Q6XEFODVVEXWWRQ
$WWKLVSRLQW\RXVKRXOGFRPSDUHWKHRULJLQDOZLQGRZSURFHGXUHSRLQWHUWKDWZDVUHSODFHG
ZLWKWKHZLQGRZSURFHGXUHSRLQWHUWKDWZDVVHWXVLQJ6HW:LQGRZ/RQJ3WU,IWKH\PDWFK
HYHU\WKLQJLVILQHRWKHUZLVH\RXQHHGWRWUDFNGRZQZK\WKHRULJLQDOZLQGRZSURFHGXUH
SRLQWHUZDVQRWUHVWRUHG
1RWLFHWKDWHYHU\WLPHDPHVVDJHLVVHQWWRWKHVXEFODVVHGZLQGRZSURFHGXUHLWLVOLVWHG
WZLFHLQWKHGHEXJJHURXWSXW7KHVXEFODVVHGZLQGRZSURFHGXUHSURFHVVHVWKHILUVWPHVVDJH
DQGWKHRULJLQDOZLQGRZSURFHGXUHSURFHVVHVWKHVHFRQGPHVVDJH
/LQHVDQG
7KHILQDOSURFHVVLQJWKDW,ZDQWWRH[DPLQHLVWKHGHVWUXFWLRQRIDZLQGRZ$V)LJXUH
VKRZVZKHQWKH&ORVHEXWWRQRQWKHPDLQIRUPLVFOLFNHGDOOZLQGRZVLQWKHDSSOLFDWLRQDUH
GHVWUR\HGDQGWKHDSSOLFDWLRQLWVHOILVVKXWGRZQ
)LJXUH6KXWWLQJGRZQWKHDSSOLFDWLRQYLDWKHZLQGRZ V&ORVHEXWWRQ
)LJXUHGHWDLOVWKHPHVVDJHORRSKDQGOLQJWKHPHVVDJHVJHQHUDWHGZKHQWKHXVHU
FOLFNVWKH&ORVHEXWWRQRQWKHPDLQIRUP$Q\PRXVHDFWLRQLQWKHQRQFOLHQWDUHDRIDZLQGRZ
ZLOOILUVWFDXVHWKH:0B1&+,77(67PHVVDJHWREHVHQWWRWKDWZLQGRZ VZLQGRZSURFHGXUH
7KHZLQGRZKDQGOHVWKLVPHVVDJH/LQH DQGWKHQSDVVHVLWRQWRWKHGHIDXOWZLQGRZ
SURFHGXUH/LQH 7KHGHIDXOWZLQGRZSURFHGXUHUHWXUQVDYDOXHRI +ZKLFKLVWKH
+7&/26(FRGHLQGLFDWLQJWKDWWKHZLQGRZ V&ORVHEXWWRQZDVFOLFNHG
:LQGRZVZLOOLPPHGLDWHO\VHQGWKH:0B6(7&85625PHVVDJHWRWKDWZLQGRZWRGHWHUPLQH
LIWKHPRXVHFXUVRUQHHGVWREHPRGLILHGDQGLIVRPRGLILHVWKHFXUVRU
%HFDXVHWKHOHIWPRXVHEXWWRQZDVFOLFNHGRYHUWKH&ORVHEXWWRQRIWKHZLQGRZWKHV\VWHP
SRVWVWKH:0B1&/%87721'2:1PHVVDJHWRWKDWZLQGRZZLWKWKH+7&/26(FRGHLQWKH
Z3DUDPRIWKLVPHVVDJH/LQH :KHQWKLVPHVVDJHLVVHQWWRWKHGHIDXOWZLQGRZ
SURFHGXUH/LQH LWVHWVRIIWKHIROORZLQJVHULHVRIHYHQWV
/LQH7KLVZLQGRZLVQRWLILHGWKDWLWLVORVLQJWKHPRXVHFDSWXUHZLQGRZWKURXJK WKH:0B&$3785(&+$1*('PHVVDJH7KHPRXVHFDSWXUHZLQGRZLVWKHDFWLYH ZLQGRZWKDWUHFHLYHVPRXVHPHVVDJHV
/LQH7KH:0B6<6&200$1'PHVVDJHLVVHQWWRWKHZLQGRZZLWKWKH 6&B&/26(FRGHLQWKHZ3DUDPRIWKLVPHVVDJH
/LQH7KHB4XHU\8QORDGHYHQWLVUDLVHG7KLVHTXDWHVWRWKHIRUP V )RUPB4XHU\8QORDGHYHQW
/LQH7KH(GLWFRQWURORQWKHIRUPLVGHVWUR\HG
/LQH7KH8Q6XEFODVVEXWWRQRQWKHIRUPLVGHVWUR\HG
/LQH7KH6XEFODVVEXWWRQRQWKHIRUPLVGHVWUR\HG
7KHPDLQIRUPLVGHVWUR\HG/LQHRI)LJXUHVKRZVWKLV $OWKRXJKWKHPDLQIRUPDQGDOOLWVFRQWUROVZHUHGHVWUR\HGWKH9%DSSOLFDWLRQVWLOOUHPDLQVLQ
PHPRU\7KLVLVEHFDXVHQRWDOORIWKHDSSOLFDWLRQ VZLQGRZVZHUHGHVWUR\HG9%FRQWLQXHV
LWVVKXWGRZQSURFHVVE\GHVWUR\LQJWKHZLQGRZVFUHDWHGIURPWKH9%%XEEOH57FODVVWKH
2OH0DLQ7KUHDG:QG1DPHFODVVWKH9%0VR6WG&RPS0JUFODVVWKH9%)RFXV57FODVVDQG
WKH7KXQGHU570DLQFODVV:KHQWKHVHZLQGRZVKDYHEHHQGHVWUR\HGWKHDSSOLFDWLRQFDQ
FRPSOHWHO\UHPRYHLWVHOIIURPPHPRU\
)LJXUHGHWDLOVWKH'HVWUR\:LQGRZIXQFWLRQIRUWKHPDLQIRUPZKLFKLVFDOOHGLQ
UHVSRQVHWRWKHXVHUFOLFNLQJWKHZLQGRZ V&ORVHEXWWRQ7KH'HVWUR\:LQGRZIXQFWLRQ
LPPHGLDWHO\FDXVHVWKH:0B'(6752<PHVVDJHWREHVHQWWRWKHZLQGRZEHLQJFORVHG
/LQH 7KLVPHVVDJHFDOOVWKH6HQG0HVVDJH$/LQH ,V:LQGRZ9LVLEOH/LQH
DQG6HOHFW2EMHFW/LQH IXQFWLRQV
)LJXUH7KHGHVWUXFWLRQRIWKH9%IRUP
1RWLFHWKH6HQG0HVVDJH$IXQFWLRQ/LQH LWVHQGVWKH:0B6(7,&21PHVVDJHGLUHFWO\
WRWKHZLQGRZSURFHGXUHZKLFKSURFHVVHVLWDQGSDVVHVLWRQWR'HI:LQGRZ3URF2QO\DIWHU
WKLVSURFHVVLQJLVILQLVKHGGRHVWKH6HQG0HVVDJH$IXQFWLRQUHWXUQ7KLVLVKRZWKH
6HQG0HVVDJHIXQFWLRQRSHUDWHV
$IWHUWKHGHIDXOWSURFHVVLQJLVILQLVKHGIRUWKH:0B'(6752<PHVVDJHWKH
:0B1&'(6752<PHVVDJHLVVHQWWRWKHZLQGRZ/LQH 7KLVPHVVDJHXVHV
6HOHFW2EMHFWWRUHVWRUHDOO*',REMHFWVWRWKHLURULJLQDOVWDWHDQGWKHQLWXVHV'HOHWH2EMHFWWR
UHPRYHDQ\REMHFWVFUHDWHGE\9%IURPPHPRU\)LQDOO\5HOHDVH'&IUHHVXSWKHGHYLFH
FRQWH[WPHPRU\IRUWKHZLQGRZ7KHPHVVDJHLVWKHQVHQWWR'HI:LQGRZ3URF/LQH IRU
GHIDXOWSURFHVVLQJDQGWKHQWKH'HVWUR\:LQGRZIXQFWLRQFDQUHWXUQ/LQH
3DUW,,,+RRNLQJ 7KLVVHFWLRQGHYRWHVLQGLYLGXDOFKDSWHUVWRWKHIROORZLQJKRRNV
WH_CALLWNDPROC
,QWHUFHSWVPHVVDJHVVHQWXVLQJWKH6HQG0HVVVDJH$3,IXQFWLRQ
WH_CALLWNDPROCRET
,QWHUFHSWVPHVVDJHVDIWHUWKH\KDYHEHHQSURFHVVHGE\WKHLUZLQGRZ
SURFHGXUH
WH_CBT
8VHGWRFUHDWH&RPSXWHU%DVHG7UDLQLQJ&%7 DSSOLFDWLRQV
WH_DEBUG
,QWHUFHSWVFDOOVWRDQLQVWDOOHGKRRN VILOWHUIXQFWLRQ
WH_FOREGROUNDIDLE
&DOOHGZKHQDQDSSOLFDWLRQLVDERXWWRHQWHUDQLGOHVWDWH
WH_GETMESSAGE
,QWHUFHSWVSRVWHGDQGQRWVHQW PHVVDJHV
WH_JOURNALPLAYBACK
3RVWVSUHUHFRUGHGPHVVDJHVWRWKHUDZLQSXWWKUHDG VPHVVDJHTXHXHVR WKDWWKH\PD\EHSURFHVVHGSOD\HGEDFN E\WKHV\VWHP
WH_JOURNALRECORD
,QWHUFHSWPRXVHNH\ERDUGDQGRWKHUKDUGZDUHPHVVDJHVUHFHLYHGE\WKH
V\VWHP
WH_KEYBOARD and WH_KEYBOARD_LL ,QWHUFHSWVNH\ERDUGPHVVDJHV
WH_MOUSE and WH_MOUSE_LL
,QWHUFHSWPRXVHPHVVDJHV
WH_MSGFILTER
,QWHUFHSWVVHQWPHVVDJHVSURGXFHGE\PHQXVGLDORJER[HVPHVVDJH
ER[HVDQGVFUROOEDUV
WH_SYSMSGFILTER
,QWHUFHSWVVHQWPHVVDJHVSURGXFHGE\PHQXVGLDORJER[HVPHVVDJH
ER[HVDQGVFUROOEDUVRQDV\VWHPZLGHEDVLV
WH_SHELL
,QWHUFHSWVPHVVDJHVWKDWQRWLI\DQDSSOLFDWLRQRIDFWLRQVRFFXUULQJWRLWHLWKHU
WKURXJKXVHULQWHUYHQWLRQRUWKURXJKDFKDQJHLQWKHV\VWHP VVWDWH
(DFKFKDSWHUZLOOGLVFXVVDKRRNLQGHWDLO7KHFKDSWHUVZLOOEHJLQE\
GLVFXVVLQJWKHKRRNDQGSURYLGLQJUHOHYDQWEDFNJURXQGLQIRUPDWLRQ,ZLOOXVH
H[DPSOHVWRDLGLQWKHVHGLVFXVVLRQV(DFKFKDSWHUZLOOHQGZLWKDGLVFXVVLRQ RIWKHSUREOHPVWRZDWFKIRUZKLOHXVLQJWKHKRRN
&KDSWHU:+B&$//:1'352& 7KH:+B&$//:1'352&KRRNLQWHUFHSWVPHVVDJHVWKDW\RXVHQGWKURXJKWKH
6HQG0HVVDJHDSSOLFDWLRQSURJUDPPLQJLQWHUIDFH$3, IXQFWLRQ7KLVKRRNFDQYLHZ
PHVVDJHVEXWLWFDQQRWPRGLI\RUGLVFDUGWKHP1RUPDOO\ILOWHUIXQFWLRQVGLVFDUGPHVVDJHV
E\QRWFDOOLQJWKH&DOO1H[W+RRN([IXQFWLRQDQGUHWXUQLQJD]HUR%XWLQWKHFDVHRIWKH
:+B&$//:1'352&KRRNDIWHUWKHILOWHUIXQFWLRQLVILQLVKHGSURFHVVLQJWKHPHVVDJHLW
UHWXUQVFRQWUROWRWKH6HQG0HVVDJHIXQFWLRQZKLFKWKHQSURFHHGVWRVHQGWKHPHVVDJH)RU
WKLVUHDVRQLWLVQRWSRVVLEOHWRGLVFDUGWKHVHQWPHVVDJH
+RZ:+B&$//:1'352&:RUNV
6S\XWLOLW\XVHVWKLVKRRNZKHQLWZDWFKHVIRUVHQWPHVVDJHV7KLVKRRNLVDOVRXVHIXOLI
\RXQHHGWRSHUIRUPDQDFWLRQZKHQDVSHFLILFPHVVDJHLVVHQWWRRQHRUPRUHZLQGRZV)RU
H[DPSOHRQHDSSOLFDWLRQFRXOGEURDGFDVWDXVHUGHILQHGPHVVDJH7KLVPHVVDJHZRXOGWKHQ
EHSLFNHGXSDQGDFWHGXSRQE\HYHU\RWKHUDSSOLFDWLRQWKDWZDVXVLQJWKLVKRRNWRZDWFKIRU
WKDWSDUWLFXODUPHVVDJH
'// DQGXVHLWDVDV\VWHPZLGHKRRN$WKUHDGVSHFLILFKRRNLQWHUFHSWVDOOPHVVDJHV
ZLWKLQWKHWKUHDGLQZKLFKLWLVLQVWDOOHG:KHQDKRRNLVLQVWDOOHGDVDV\VWHPZLGHKRRNLW
KDVWREHSODFHGLQD'//7KLV'//LVLQMHFWHGLQWRHYHU\SURFHVVVRWKDWWKHKRRNFDQ
RSHUDWHRQDOOPHVVDJHVLQWKHV\VWHP&KDSWHUSURYLGHVDWKRURXJKGLVFXVVLRQRIWKLV WHFKQLTXH
0HVVDJHVVHQWWRZLQGRZVWKURXJKWKH6HQG0HVVDJHIXQFWLRQDUHVHQWGLUHFWO\WRWKHZLQGRZ
SURFHGXUHE\SDVVLQJERWKWKHV\VWHPDQGWKUHDGPHVVDJHTXHXHV7KH\GRQRWJRWKURXJK
WKHPHVVDJHTXHXHDVDSRVWHGPHVVDJHGRHV$VDUHVXOWWKHVHW\SHVRIPHVVDJHVDUH
SURFHVVHGEHIRUHSRVWHGPHVVDJHVDUH7KHIROORZLQJVKRZVWKHRUGHULQZKLFKDPHVVDJH
ORRSSURFHVVHVPHVVDJHV 6HQWPHVVDJHV
3RVWHGPHVVDJHV
,QSXWPHVVDJHVIURPKDUGZDUHDQGLQWHUQDOV\VWHPHYHQWV
6HQWPHVVDJHVDVHFRQGWLPH :0B3$,17PHVVDJHV
:0B7,0(5PHVVDJHV
$V\RXFDQVHHVHQWPHVVDJHVDUHSURFHVVHGQRWRQO\ILUVWEXWDOVRIRXUWK$VHQWPHVVDJH
LVSURFHVVHGEHIRUHDQ\RWKHUPHVVDJHVWRPDNHVXUHWKDWWKHVHQWPHVVDJHGRHVQRWKDYH
WRZDLWIRUWKHV\VWHPWRSURFHVVDQ\RWKHUW\SHRIPHVVDJHVEHIRUHSURFHVVLQJWKHQH[WVHQW
PHVVDJH6HQWPHVVDJHVDUHV\QFKURQRXVWKHUHIRUHUHTXLULQJWKHFDOOHGZLQGRZWRUHWXUQ
FRQWUROEHIRUHWKHFDOOHUVHQGLQJWKHPHVVDJHFDQFRQWLQXH,IRWKHUPHVVDJHVVXFKDV
:0B3$,17PHVVDJHVWDNHDJUHDWGHDORIWLPHWRSURFHVVWKHIXQFWLRQWKDWVHQWWKH
PHVVDJHFDQQRWFRQWLQXHSURFHVVLQJDWOHDVWQRWLQDWLPHO\PDQQHU
1H[WSRVWHGPHVVDJHVDUHSURFHVVHGEHFDXVHWKH\DUHXVXDOO\FULWLFDOWRWKHDSSOLFDWLRQ V
RSHUDWLRQ3RVWHGPHVVDJHLQFOXGHPHVVDJHVDERXWPRXVHPRYHPHQWPRXVHEXWWRQFOLFNV
DQGNH\ERDUGHYHQWV
,QSXWPHVVDJHVIURPKDUGZDUHDQGLQWHUQDOV\VWHPHYHQWVLQFOXGHPHVVDJHVSRVWHGIURP
RWKHUKDUGZDUHDWWDFKHGWRWKHV\VWHPDQGIURPHYHQWVVXFKDVORZEDWWHU\SRZHURQD
ODSWRS
6HQWPHVVDJHVDUHSURFHVVHGDVHFRQGWLPHWRPDNHVXUHWKH\DUHSURFHVVHGEHIRUHWKH
:0B3$,17DQG:0B7,0(5PHVVDJHV7KLVLVEHFDXVHWKHVHWZRPHVVDJHVKDYHDORZHU
SULRULW\DQGWKH:0B3$,17PHVVDJHWDNHVFRQVLGHUDEOHWLPHWRSURFHVV
:KHQWKH:+B&$//:1'352&KRRNLVLQVWDOOHGRQD:LQGRZV[RU17V\VWHPWKH
KRRN VILOWHUIXQFWLRQLVFDOOHGZKHQWKH6HQG0HVVDJHIXQFWLRQLVFDOOHG+RZHYHURQ17
DQG:LQGRZVV\VWHPVWKHILOWHUIXQFWLRQLVFDOOHGLPPHGLDWHO\EHIRUHWKHZLQGRZ
SURFHGXUHKDQGOHVWKHVHQWPHVVDJH(VVHQWLDOO\RQD[RU17V\VWHPWKHKRRNLV
FDOOHGIURPZLWKLQWKHFRQWH[WRIWKHWKUHDGWKDWFDOOHG6HQG0HVVDJH+RZHYHURQDQ17
V\VWHPWKHKRRN VILOWHUIXQFWLRQLVFDOOHGZLWKLQWKHFRQWH[WRIWKHWKUHDGWKDW
FRQWDLQVWKHWDUJHWZLQGRZ7KLVGLIIHUHQFHGRHVQRWPDWWHUZKHQ\RXXVHWKLVKRRNLQD
9LVXDO%DVLF9% DSSOLFDWLRQZLWKDWKUHDGVSHFLILFVFRSH7KLVLVEHFDXVHWKHILOWHUIXQFWLRQLV
DOZD\VFDOOHGIURPZLWKLQWKHFRQWH[WRIWKHVDPHWKUHDG+RZHYHUWKLVLVQRWWKHFDVHZKHQ
PXOWLSOHWKUHDGVDUHFUHDWHGIURPZLWKLQD9%DSSOLFDWLRQRUZKHQPHVVDJHVDUHEHLQJVHQW
EHWZHHQSURFHVVHV1RZWKHILOWHUIXQFWLRQFDQEHFDOOHGIURPZLWKLQGLIIHUHQWWKUHDGV
GHSHQGLQJRQWKHRSHUDWLQJV\VWHPXVHG7KLVPLJKWFDXVHSUREOHPVLI\RXDUHXVLQJWKH
KRRNLQDKHWHURJHQHRXVHQYLURQPHQW
7RDLGLQGHWHUPLQLQJWKHVRXUFHRIWKHVHQWPHVVDJHWKLVKRRNVHWVWKHZ3DUDPSDUDPHWHU
LQLWVILOWHUIXQFWLRQWRD]HURRUQRQ]HURYDOXH$QRQ]HURYDOXHPHDQVWKDWWKHPHVVDJHZDV
VHQWIURPZLWKLQWKHVDPHWKUHDGWKDWLVKDQGOLQJWKHPHVVDJH$]HURYDOXHPHDQVWKDWWKH
PHVVDJHZDVVHQWIURPDQRWKHUWKUHDG'LVWLQJXLVKLQJWKHVRXUFHRIWKHVHQWPHVVDJHDOORZV
\RXWRKDQGOHLWLQDQDSSURSULDWHZD\7KLVLVXVHIXOZKHQ\RXXVHDV\VWHPZLGH
:+B&$//:1'352&KRRN,QWKLVFDVH\RXU'//FRQWDLQLQJWKHILOWHUIXQFWLRQLVLQMHFWHG
LQWRDOOUXQQLQJSURFHVVHV8VLQJWKHZ3DUDPSDUDPHWHU\RXUFRGHFDQGHWHUPLQHZKHUHWKH
PHVVDJHRULJLQDWHG
:KHQXVLQJWKLVKRRN\RXVKRXOGEHDZDUHRIWKHGLIIHUHQWPHWKRGVRIVHQGLQJPHVVDJHV
6HQG0HVVDJH7LPHRXW6HQG1RWLI\0HVVDJH6HQG0HVVDJH&DOOEDFN6HQG'OJ,WHP0HVVDJH
DQG%URDGFDVW6\VWHP0HVVDJH7KHVHIXQFWLRQVGRQRWSRVWPHVVDJHVWRDWKUHDG V
PHVVDJHTXHXHLQVWHDGWKH\VHQGWKHPHVVDJHGLUHFWO\WRWKHZLQGRZSURFHGXUHRU
SURFHGXUHV7KHPDLQGLIIHUHQFHEHWZHHQWKHVHIXQFWLRQVLVWKHZD\FRQWUROLVUHWXUQHGEDFN
WRWKHIXQFWLRQWKDWFDOOHG6HQG0HVVDJHDQGZKHWKHUWKHPHVVDJHLVVHQWWRRQHRUPRUH
ZLQGRZV7KHILUVWRIWKHVHIXQFWLRQVLV6HQG0HVVDJHZKLFKKDVWKHIROORZLQJV\QWD[LQ9%
3XEOLF'HFODUH)XQFWLRQ6HQG0HVVDJH/LEXVHU$OLDV6HQG0HVVDJH$B
,WVSDUDPHWHUVDUH KZQG
Z0VJ
%\9DOKZQG$V/RQJ%\9DOZ0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJO3DUDP$V$Q\ $V/RQJ
7KHKDQGOHRIWKHWDUJHWZLQGRZRU+:1'B%52$'&$67LIWKHPHVVDJHLVWREH
VHQWWRDOOWRSOHYHOZLQGRZVLQWKHV\VWHP 7KHPHVVDJHWRVHQGWRWKHWDUJHWZLQGRZ
Z3DUDP O3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH
7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
6HQG0HVVDJHVLPSO\VHQGVDPHVVDJHWRWKHVSHFLILHGWDUJHWZLQGRZ7KHUHWXUQYDOXH
GHSHQGVRQWKHPHVVDJHVHQW7KHPDLQGUDZEDFNWRXVLQJWKLVIXQFWLRQLVWKDWLWLV
V\QFKURQRXV7KLVPHDQVWKDW6HQG0HVVDJHZLOOVHQGWKHPHVVDJHDQGWKHQZDLWIRUWKH
WDUJHWZLQGRZSURFHGXUHWRUHWXUQ,IWKHWDUJHWZLQGRZSURFHGXUHQHYHUUHWXUQVWKHIXQFWLRQ
WKDWFDOOHG6HQG0HVVDJHFDQQHYHUFRQWLQXHSURFHVVLQJ
3XEOLF'HFODUH)XQFWLRQ6HQG0HVVDJH7LPHRXW/LEXVHUB $OLDV6HQG0HVVDJH7LPHRXW$B
,WVSDUDPHWHUVDUH KZQG
0VJ
%\9DOKZQG$V/RQJ%\9DO0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJB
%\9DOIX)ODJV$V/RQJ%\9DOX7LPHRXW$V/RQJB
OSGZ5HVXOW$V/RQJ $V/RQJ
7KHKDQGOHRIWKHWDUJHWZLQGRZRU+:1'B%52$'&$67LIWKHPHVVDJHLVWREH
VHQWWRDOOWRSOHYHOZLQGRZVLQWKHV\VWHP 7KHPHVVDJHWRVHQGWRWKHWDUJHWZLQGRZ
Z3DUDP O3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH
7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
IX)ODJV
'HWHUPLQHVKRZWKHPHVVDJHLVVHQW9DOLGYDOXHVDUHDVIROORZV
3XEOLF&RQVW6072B1250$/ +XQWLO 'RHVQRWEORFNFDOOLQJWKUHDG
IXQFWLRQUHWXUQV
3XEOLF&RQVW6072B%/2&. + %ORFNVFDOOLQJWKUHDGXQWLO
IXQFWLRQUHWXUQV
3XEOLF&RQVW6072B$%257,)+81* +
5HWXUQVLIDSSLVKXQJ
3XEOLF&RQVW6072B127,0(287,)127+81* + :LQRQO\ 'RHVQRW
UHWXUQ
IURPWKHIXQFWLRQLIDSSLVQRW
KXQJHYHQWKRXJKWKHWLPHRXW SHULRGPD\EHH[SLUHG
X7LPHRXW
7KHWLPHRXWYDOXHLQPLOOLVHFRQGVEHIRUHWKHIXQFWLRQWLPHVRXWDQGUHWXUQV
OSGZ5HVXOW
7KHUHVXOWRISURFHVVLQJWKHPHVVDJH
6HQG0HVVDJH7LPHRXWVROYHVWKHSUREOHPRIV\QFKURQRXVO\VHQGLQJPHVVDJHVLWVHQGVWKH
PHVVDJHWRWKHWDUJHWZLQGRZDQGWKHQZDLWVWKHQXPEHURIPLOOLVHFRQGVVSHFLILHGLQWKH
X7LPHRXWSDUDPHWHU7KHUHWXUQYDOXHIRUWKLVIXQFWLRQLV]HURLIWKHIXQFWLRQVXFFHHGHGDQG
QRQ]HURLILWWLPHGRXWRUIDLOHG8QIRUWXQDWHO\LI\RXZDQWWRJHWDUHWXUQYDOXHWKDWGHSHQGV
RQWKHPHVVDJHVLPLODUWRWKHUHWXUQYDOXHRI6HQG0HVVDJH\RXDUHRXWRIOXFN
,QDGGLWLRQWR6HQG0HVVDJH7LPHRXW6HQG1RWLI\0HVVDJHDOVRDGGUHVVHVWKHSUREOHPRI
VHQGLQJDPHVVDJHV\QFKURQRXVO\,WVV\QWD[LV
3XEOLF'HFODUH)XQFWLRQ6HQG1RWLI\0HVVDJH/LEXVHUB $OLDV6HQG1RWLI\0HVVDJH$B
,WVSDUDPHWHUVDUH KZQG
Z0VJ
%\9DOKZQG$V/RQJ%\9DO0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
7KHKDQGOHRIWKHWDUJHWZLQGRZRU+:1'B%52$'&$67LIWKHPHVVDJHLVWREH
VHQWWRDOOWRSOHYHOZLQGRZVLQWKHV\VWHP 7KHPHVVDJHWRVHQGWRWKHWDUJHWZLQGRZ
Z3DUDP O3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH
7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
6HQG1RWLI\0HVVDJHZRUNVGLIIHUHQWO\GHSHQGLQJRQZKHWKHUWKHWDUJHWWKUHDGLVWKHVDPH
WKUHDGDVWKHFDOOLQJWKUHDGRULVDGLIIHUHQWWKUHDG,I\RXXVHWKLVIXQFWLRQWRVHQGDPHVVDJH
WRDZLQGRZLQWKHVDPHWKUHDGWKHFDOOLQJIXQFWLRQKDOWVSURFHVVLQJXQWLOWKH
6HQG1RWLI\0HVVDJHIXQFWLRQUHWXUQVVLPLODUWRWKH6HQG0HVVDJHIXQFWLRQ,I\RXVHQGWKH
PHVVDJHWRDZLQGRZLQDGLIIHUHQWWKUHDGWKHIXQFWLRQUHWXUQVLPPHGLDWHO\7KLVIXQFWLRQ
UHWXUQVRQO\DQHUURUVWDWXV]HURRQIDLOXUHQRQ]HURRQVXFFHVV DQGQRRWKHULQIRUPDWLRQ
7KHQH[W:LQ$3,PHVVDJHIXQFWLRQ6HQG0HVVDJH&DOOEDFNLVDV\QFKURQRXV,WKDVWKH IROORZLQJ9%GHFODUDWLRQ
3XEOLF'HFODUH)XQFWLRQ6HQG0HVVDJH&DOOEDFN/LEXVHUB $OLDV6HQG0HVVDJH&DOOEDFN$B
,WVSDUDPHWHUVDUH KZQG
Z0VJ
%\9DOKZQG$V/RQJ%\9DO0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJB
%\9DOOS5HVXOW&DOO%DFN$V/RQJ%\9DOGZ'DWD$V/RQJ $V/RQJ
7KHKDQGOHRIWKHWDUJHWZLQGRZRU+:1'B%52$'&$67LIWKHPHVVDJHLVWREH
VHQWWRDOOWRSOHYHOZLQGRZVLQWKHV\VWHP 7KHPHVVDJHWRVHQGWRWKHWDUJHWZLQGRZ
Z3DUDP O3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH
7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
OS5HVXOW&DOO%DFN GZ'DWD
7KHFDOOEDFNIXQFWLRQDGGUHVV 'DWDWREHSDVVHGLQWRWKHFDOOEDFNIXQFWLRQ
6HQG0HVVDJH&DOOEDFNVHQGVDPHVVDJHWRDZLQGRZDQGUHWXUQVLPPHGLDWHO\7KHUHWXUQ
YDOXHLVDVXFFHVVRUIDLOXUHD]HURRUDQRQ]HURYDOXHUHVSHFWLYHO\ +RZHYHUWKLVIXQFWLRQ
XVHVDFDOOEDFNIXQFWLRQWRUHWULHYHWKHPHVVDJHGHSHQGHQWUHWXUQYDOXH7KLVPHDQVWKDWZH
FDQXVH6HQG0HVVDJHDV\QFKURQRXVO\DQGVWLOOJHWWKHPHVVDJHGHSHQGHQWUHWXUQYDOXH
VLPLODUWRWKHUHWXUQYDOXHRI6HQG0HVVDJH
7KHFDOOEDFNIXQFWLRQLVGHILQHGLQWKLVPDQQHU
3XEOLF6XE'XPP\&DOOEDFN%\9DOKZQG$V/RQJ%\9DOX0VJ$V/RQJB
,WVSDUDPHWHUVDUH KZQG
X0VJ GZ'DWD
%\9DOGZ'DWD$V/RQJ%\9DOO5HVXOW$V/RQJ
7KHKDQGOHRIWKHWDUJHWZLQGRZ 7KHPHVVDJHWRVHQGWRWKHWDUJHWZLQGRZ 7KHYDOXHVHQWLQWKHGZ'DWDSDUDPHWHURIWKH6HQG0HVVDJH&DOOEDFNIXQFWLRQ
O5HVXOW
7KHPHVVDJHGHSHQGHQWUHVXOWVLPLODUWRWKHUHVXOWYDOXHIURP6HQG0HVVDJH
8VLQJWKHO5HVXOWSDUDPHWHUZHFDQREWDLQWKHVDPHUHVXOWYDOXHWKDWWKH6HQG0HVVDJH
IXQFWLRQUHWXUQV
6HQG'OJ,WHP0HVVDJHVHQGVDPHVVDJHWRDFRQWURORQDGLDORJ7KLVIXQFWLRQKDVWKH
IROORZLQJGHFODUDWLRQ
3XEOLF'HFODUH)XQFWLRQ6HQG'OJ,WHP0HVVDJH/LEXVHUB
$OLDV6HQG'OJ,WHP0HVVDJH$B
,WVSDUDPHWHUVDUH K'OJ
%\9DOK'OJ$V/RQJ%\9DOQ,''OJ,WHP$V/RQJB
%\9DOZ0VJ$V/RQJ%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
7KHKDQGOHRIWKHWDUJHWGLDORJER[
Q,''OJ,WHP
7KH,'RIWKHFRQWURORQWKHGLDORJER[WKDWWKHK'OJKDQGOHVSHFLILHV
Z0VJ
WKHFRQWURO,'E\XVLQJ6S\
7KHPHVVDJHWRVHQGWRWKHWDUJHWZLQGRZ
Z3DUDP O3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH
7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
6HQG'OJ,WHP0HVVDJHRSHUDWHVVLPLODUO\WRWKH6HQG0HVVDJHIXQFWLRQ%RWKDUH
V\QFKURQRXVDQGERWKUHWXUQDYDOXHWKDWGHSHQGVRQWKHPHVVDJHVHQW7KHPDLQGLIIHUHQFH
EHWZHHQWKHVHWZRIXQFWLRQVLVWKDW\RXFDQVSHFLI\DFRQWURO,'LQ6HQG'OJ,WHP0HVVDJH
7KLVPHDQV\RXFDQVHQGDPHVVDJHWRDFRQWUROZKHQ\RXNQRZLWV,'EXWQRWLWVK:QG
7KHILQDOIXQFWLRQIRUVHQGLQJPHVVDJHVWKDWZHZLOOH[DPLQHLV%URDGFDVW6\VWHP0HVVDJH
ZKLFKLVGHILQHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ%URDGFDVW6\VWHP0HVVDJH/LEXVHUB $OLDV%URDGFDVW6\VWHP0HVVDJHB
%\9DOGZ$V/RQJSGZ$V/RQJ%\9DOXQ$V/RQJ%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
,WVSDUDPHWHUVDUH GZ
6SHFLILHVRQHRIWKHIROORZLQJEURDGFDVWLQJIODJV BSF_ALLOWSFW
(QDEOHVWKHUHFLSLHQWWRVHWWKHIRUHJURXQGZLQGRZLQWKH:LQGRZVV\VWHP BSF_FLUSHDISK )OXVKHVWKHGLVNDIWHUHDFKVHQWPHVVDJHLVSURFHVVHG BSF_FORCEIFHUNG
6HQGVWKHPHVVDJHHYHQLIRQHRUPRUHUHFLSLHQWVDUHKXQJ BSF_IGNORECURRENTTASK
3UHYHQWVWKHVHQGLQJDSSOLFDWLRQIURPUHFHLYLQJLWVRZQPHVVDJH BSF_NOHANG 6WRSVEURDGFDVWLQJPHVVDJHVLIRQHUHFLSLHQWLVKXQJ BSF_NOTIMEOUTIFNOTHUNG 'RHVQRWWLPHRXWXQOHVVDUHFLSLHQWLVKXQJ BSF_POSTMESSAGE 3RVWVWKHPHVVDJHLQVWHDGRIVHQGLQJLW BSF_QUERY
(DFKUHFLSLHQWPXVWUHVSRQGZLWKD7UXHYDOXHIRUWKHPHVVDJHWREHVHQWWRWKHQH[W
UHFLSLHQW BSF_SENDNOTIFYMESSAGE
8VHVWKH6HQG1RWLI\0HVVDJHIXQFWLRQWRVHQGWKHPHVVDJHLQWKH:LQGRZV
SGZ
V\VWHP
6SHFLILHVDIODJWKDWGHWHUPLQHVWKHPHVVDJHUHFLSLHQWV,WFDQEHRQHRIWKHIROORZLQJ
FRQVWDQWV BSM_ALLCOMPONENTS
%URDGFDVWVWRDOOFRPSRQHQWVLQWKHV\VWHP BSM_ALLDESKTOPS
%URDGFDVWVWRDOOGHVNWRSVLQ:LQGRZV17V\VWHPV BSM_APPLICATIONS %URDGFDVWVWRDOODSSOLFDWLRQV BSM_INSTALLABLEDRIVERS
%URDGFDVWVWRLQVWDOODEOHGULYHUVLQ:LQGRZV[V\VWHPV BSM_NETDRIVER %URDGFDVWVWRQHWZRUNGULYHUVLQ:LQGRZV[V\VWHPV BSM_VXDS XQ
%URDGFDVWVWRDOOV\VWHPOHYHOGHYLFHGULYHUVLQ:LQGRZV[V\VWHPV
7KHPHVVDJHLGHQWLILHU
Z3DUDP O3DUDP
$GGLWLRQDOLQIRUPDWLRQIRUWKHPHVVDJHVSHFLILHGLQXQ
$GGLWLRQDOLQIRUPDWLRQIRUWKHPHVVDJHVSHFLILHGLQXQ
7KLVIXQFWLRQUHWXUQVDSRVLWLYHYDOXHLILWVXFFHVVIXOO\VHQGVWKHPHVVDJHWRLWVUHFLSLHQWV,W
UHWXUQVDYDOXHLILWZDVXQDEOHWRVHQGWKHPHVVDJH0HVVDJHVDUHVHQWWRUHFLSLHQWVDV GHWHUPLQHGE\WKHSGZSDUDPHWHU
)LOWHU)XQFWLRQ'HILQLWLRQ 7KHILOWHUIXQFWLRQSURWRW\SHIRUWKLVKRRNLVZULWWHQDVIROORZV
3XEOLF)XQFWLRQ:QG3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
O3DUDP$V&:36758&7 $V/RQJ
,WVSDUDPHWHUVDUH X&RGH
7KHFRGHWKHV\VWHPVHQGVWRWKLVILOWHUIXQFWLRQ)RUD:+B&$//:1'352&KRRN
WKHRQO\KRRNFRGHWKDWLWVHQWWRWKLVILOWHUIXQFWLRQLV+&B$&7,21ZKLFKLVGHILQHG
DVIROORZV
3ULYDWH&RQVW+&B$&7,21
:KHQWKHV\VWHPVHQGVWKLVFRGHWRWKHILOWHUIXQFWLRQWKHVHQWPHVVDJHFDQEH
SURFHVVHG,I+&B$&7,21LVQRWSDVVHG\RXVKRXOGVNLSPHVVDJHSURFHVVLQJDQG
FDOO&DOO1H[W+RRN([LPPHGLDWHO\
Z3DUDP
,IWKLVLVQRQ]HURWKHFXUUHQWWKUHDGVHQWWKHPHVVDJHRWKHUZLVHDQRWKHUWKUHDG
O3DUDP
VHQWWKHPHVVDJH
3RLQWHUWRD&:36758&7VWUXFWXUH
7KHUHWXUQYDOXHIRUWKLVILOWHUIXQFWLRQVKRXOGEHWKHUHWXUQYDOXHRIWKH&DOO1H[W+RRN([
IXQFWLRQ,IWKLVIXQFWLRQLVQRWFDOOHGWKHILOWHUIXQFWLRQVKRXOGUHWXUQD]HUR,GRQRW
UHFRPPHQGVNLSSLQJWKHFDOOWR&DOO1H[W+RRN([WKRXJK)DLOLQJWRFDOOWKLVIXQFWLRQZLOOIRUFH
RWKHUILOWHUIXQFWLRQVLQWKHFKDLQWRQRWEHFDOOHG
7KH&:36758&7VWUXFWXUHWKDWWKHO3DUDPSDUDPHWHUSRLQWVWRLVGHILQHGDVIROORZV
3XEOLF7\SH&:36758&7 O3DUDP$V/RQJ
Z3DUDP$V/RQJ
PHVVDJH$V/RQJ KZQG$V/RQJ
(QG7\SH
,WVPHPEHUVDUH O3DUDP
7KHO3DUDPSDUDPHWHUIRUWKLVPHVVDJH
Z3DUDP
7KHZ3DUDPSDUDPHWHUIRUWKLVPHVVDJH
PHVVDJH KZQG
7KHPHVVDJHLGHQWLILHURIWKHLQWHUFHSWHGPHVVDJH
7KHZLQGRZKDQGOHWKDWWKLVPHVVDJHLVGLUHFWHGWR
7KLVVWUXFWXUHFRQWDLQVWKHPHVVDJHLQIRUPDWLRQWKDWWKH6HQG0HVVDJHIXQFWLRQVHQW7KLVLV
WKHVDPHLQIRUPDWLRQFRQWDLQHGLQWKHSDUDPHWHUVWRWKH6HQG0HVVDJHIXQFWLRQDV\RXFDQ
VHHE\H[DPLQLQJLWVSURWRW\SHHDUOLHULQWKLVFKDSWHUWKHUHLVDRQHWRRQHFRUUHVSRQGHQFH
EHWZHHQWKH6HQG0HVVDJHSDUDPHWHUVDQGWKH&:36758&7VWUXFWXUHPHPEHUV
/RFDWLRQRI7KLV+RRNLQWKH6\VWHP 7KH:+B&$//:1'352&KRRNLVORFDWHGZLWKLQWKH6HQG0HVVDJH$3,IXQFWLRQLQWKH
:LQGRZV[DQG:LQGRZV17RSHUDWLQJV\VWHPV+RZHYHULQWKH:LQGRZV17DQG
:LQGRZVRSHUDWLQJV\VWHPVWKHKRRNLVORFDWHGLPPHGLDWHO\EHIRUHWKHZLQGRZ
SURFHGXUH7KHKRRNDOVRLVORFDWHGLQWKHWKUHDGWKDWUHFHLYHVWKHVHQWPHVVDJH7KLVLV
GLIIHUHQWIURPWKH:LQGRZV[DQG17RSHUDWLQJV\VWHPVZKHUHWKHKRRNLVILUHGIURP
ZLWKLQWKHWKUHDGWKDWVHQWWKHPHVVDJH,IWKHZLQGRZSURFHGXUHLVVXEFODVVHGWKHKRRNLV
ORFDWHGEHIRUHERWKWKHVXEFODVVHGZLQGRZSURFHGXUHDQGWKHRULJLQDOZLQGRZSURFHGXUHDV
)LJXUHLOOXVWUDWHV
)LJXUH7KHORFDWLRQRIWKH:+B&$//:1'352&KRRNLQWKH:LQGRZV17DQG :LQGRZVRSHUDWLQJV\VWHPV
7KLVKRRN VGHSHQGHQF\RQWKHRSHUDWLQJV\VWHPFRXOGFDXVHSUREOHPVHVSHFLDOO\ZKHQ
PHVVDJHVDUHVHQWIURPRWKHUSURFHVVHV,QWKLVFDVH\RXZRXOGQRWKDYHDFFHVVWRWKHVDPH
SURFHVVLQIRUPDWLRQIURP\RXUILOWHUIXQFWLRQGHSHQGLQJRQWKHRSHUDWLQJV\VWHP\RXZHUH
XVLQJ,QERWKFDVHVKRZHYHUWKHILOWHUIXQFWLRQLVFDOOHGEHIRUHWKHGHVWLQDWLRQZLQGRZ
SURFHVVHVWKHVHQWPHVVDJH
$7KUHDG6SHFLILF([DPSOH 7KHH[DPSOHSUHVHQWHGKHUHVKRZVLQPRUHGHWDLOKRZWRVHWXSDQGXVHWKLVKRRN$VLQJOH
ZLQGRZLVFUHDWHGLQWKLVH[DPSOHZKLFKLVVKRZQLQ)LJXUH7DEOHGHILQHVWKH QRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV7KLVZLQGRZKDVDKRRNDQGDQXQKRRN
EXWWRQLQWKH&$//:1'352&IUDPH
3URSHUW\
9DOXH
)RUP
&DSWLRQ
:+B&$//:1'352&+RRN7HVW
FPG6HQG0VJ
&DSWLRQ
6HQG0VJ
FPG6HQG0VJ72
&DSWLRQ
6HQG0VJ72
FPG3RVW0HVVDJH
&DSWLRQ
3RVW0HVVDJH
FPG6HQG0VJ&%
&DSWLRQ
6HQG0VJ&%
FPG%URDGFDVW0VJ
&DSWLRQ
%URDGFDVW0VJ
FPG6HQG'OJ0VJ
&DSWLRQ
6HQG'OJ0VJ
)UDPH
&DSWLRQ
&DOO:QG3URF
7H[W
0XOWL/LQH
7UXH
(DFKEXWWRQ VIXQFWLRQDOLW\LVGHILQHGDVIROORZV SendMsg &DOOVWKH6HQG0HVVDJHIXQFWLRQ SendMsgNotify
&DOOVWKH6HQG1RWLI\0HVVDJHIXQFWLRQ SendMsgTO
&DOOVWKH6HQG0HVVDJH7LPHRXWIXQFWLRQ SendMsgCB
&DOOVWKH6HQG0HVVDJH&DOOEDFNIXQFWLRQ7KHFDOOEDFNIXQFWLRQLVFDOOHG
'XPP\&DOOEDFNDQGLVORFDWHGLQWKH0RGXOHEDVILOH SendDlgMsg &DOOVWKH6HQG'OJ,WHP0HVVDJHIXQFWLRQ BroadcastMsg
&DOOVWKH%URDGFDVW6\VWHP0HVVDJHIXQFWLRQ PostMessage &DOOVWKH3RVW0HVVDJHIXQFWLRQ
:+B&$//:1'352&ILOWHUIXQFWLRQ
)LJXUH6FUHHQVKRWRIWKH:+B&$//:1'352&KRRNH[DPSOHDSSOLFDWLRQ
7KHFHQWHUSLHFHRIWKHSURMHFWLVWKHFRGHPRGXOH0RGXOHEDVZKLFKLQFOXGHVWKHIROORZLQJ
GHFODUDWLRQRIWKHK+RRNPHPEHUYDULDEOHDQGWKH,V+RRNHGSXEOLFYDULDEOH
3ULYDWHK+RRN$V/RQJ
3XEOLF,V+RRNHG$V%RROHDQ
SUHYHQWVXVIURPLQVWDOOLQJWKHKRRNPRUHWKDQRQFHDQGIURPVKXWWLQJGRZQWKHDSSOLFDWLRQ
EHIRUHUHPRYLQJWKHKRRN(LWKHUDFWLRQFDQFDXVHD*HQHUDO3URWHFWLRQ)DXOW*3)
$V([DPSOHVKRZV6HW:QG3URF+RRNZKLFKLVUHVSRQVLEOHIRUVHWWLQJWKHKRRNLQ SODFHXVHV6HW:LQGRZV+RRN([WRLQVWDOOWKH:+B&$//:1'352&KRRNDVDWKUHDG
VSHFLILFKRRN7KH,V+RRNHGIODJLVVHWWR7UXHLQGLFDWLQJWKDWWKHKRRNLVLQVWDOOHG ([DPSOH(VWDEOLVKLQJD:+B&$//:1'352&+RRN:LWK6HW:QG3URF+RRN 3XEOLF6XE6HW:QG3URF+RRN
,I,V+RRNHG7KHQ
0VJ%R['RQ WKRRN&$//:1'352&WZLFHRU\RXZLOOEHXQDEOHWRXQKRRNLW (OVH
OS3UHY:QG3URF 6HW:LQGRZV+RRN([:+B&$//:1'352&$GGUHVV2I:QG3URFB
$SS7KUHDG,' ,V+RRNHG 7UXH (QG,I
(QG6XE
([DPSOHVKRZVWKH5HPRYH:QG3URF+RRNIXQFWLRQZKLFKXQLQVWDOOVWKH
:+B&$//:1'352&KRRN,WXVHV8QKRRN:LQGRZV+RRN([WRUHPRYHWKH
:+B&$//:1'352&KRRNIURPWKHKRRNFKDLQ,V+RRNHGLVVHWWR)DOVHDOORZLQJWKHKRRN
WREHUHLQVWDOOHGRUWKHDSSOLFDWLRQWREHVKXWGRZQ
([DPSOH7KH5HPRYH:QG3URF+RRN3URFHGXUHWR5HPRYHD:+B&$//:1'352&
+RRN
3XEOLF6XE5HPRYH:QG3URF+RRN
'LPWHPS$V/RQJ
WHPS 8QKRRN:LQGRZV+RRN([OS3UHY:QG3URF
,V+RRNHG )DOVH (QG6XE
7KH:QG3URFIXQFWLRQZKLFKLVVKRZQLQ([DPSOHLVWKHILOWHUIXQFWLRQIRUWKLVKRRN,I
WKHX&RGHSDUDPHWHUIRUWKLVIXQFWLRQFRQWDLQVWKH+&B$&7,21FRGHDQGWKHPHVVDJHVHQW
LV:0B18//WKHZ3DUDPDQGO3DUDPSDUDPHWHUVIRUWKLVIXQFWLRQDUHZULWWHQWRWKHWH[WER[
RQWKHIRUP7KHGHFODUDWLRQRI:0B18//LVDVIROORZV
&RQVW:0B18// +
6LPSO\SXWWKLVPHVVDJHGRHVQRWKLQJ7KLVPHVVDJHDOORZVWKHKRRNWRZDWFKIRUDVSHFLILF
PHVVDJHWKDWZHLQWHQWLRQDOO\VHQG7KLVPHVVDJHZLOOQRWDGYHUVHO\DIIHFWRXUDSSOLFDWLRQ
7KHYDOXHWKDWWKH,Q6HQG0HVVDJHIXQFWLRQUHWXUQVDOVRLVZULWWHQWRWKHWH[WER[WRVKRZ ZKHUHWKHPHVVDJHRULJLQDWHG,Q6HQG0HVVDJHLVGHILQHGLQ9%DVIROORZV 3XEOLF'HFODUH)XQFWLRQ,Q6HQG0HVVDJH/LEXVHU $V/RQJ
7KLVIXQFWLRQWDNHVQRSDUDPHWHUVDQGUHWXUQVHLWKHUD]HURRUD,IWKHIXQFWLRQUHWXUQVD
]HURWKHWKUHDGWKDWUHFHLYHGWKHPHVVDJHVHQWWKHPHVVDJH,IWKHIXQFWLRQUHWXUQVDD VHSDUDWHWKUHDGVHQWWKHPHVVDJH
7KHILQDOOLQHLQWKLVILOWHUIXQFWLRQFDOOV&DOO1H[W+RRN([WRDOORZWKHRWKHUILOWHUIXQFWLRQVLQ
WKLVKRRNFKDLQWRSURFHVVWKHPHVVDJH
7KHUHLVDSRWHQWLDOSUREOHPZLWKWKLVILOWHUIXQFWLRQ,IWKH,I7KHQVWDWHPHQWWKDWFKHFNVIRU
WKH:0B18//PHVVDJHLVQRWSUHVHQWWKHDSSOLFDWLRQZLOOFUDVK7KLVLVEHFDXVHWKHOLQHWKDW
ZULWHVWKHPHVVDJHVWRWKH7H[WWH[WER[FDXVHVD:0B&7/&2/25(',7PHVVDJHWREH
VHQWWRWKHWH[WER[7KLVLQWXUQFDXVHVWKH:QG3URFILOWHUIXQFWLRQWREHUHHQWHUHG(YHU\
WLPHWH[WLVZULWWHQWRWKH7H[WWH[WER[WKHIXQFWLRQLVUHHQWHUHGDQGLWQHYHUUHWXUQV7KLV
FDXVHVDVWDFNRYHUIORZDQGD*3)8VLQJWKH,I7KHQVWDWHPHQWWRWUDSRQO\WKH:0B18//
PHVVDJHDOORZVDOORWKHUPHVVDJHVWREHE\SDVVHGDQGSURFHVVHGZLWKRXWWKHILOWHUIXQFWLRQ
LQWHUYHQLQJ:KHQXVLQJKRRNVDQGVXEFODVVLQJ\RXVKRXOGDOZD\VEHDZDUHRIDQ\FRGH ZLWKLQWKHVXEFODVVSURFHGXUHRUWKHILOWHUIXQFWLRQWKDWFRXOGFDXVHRWKHUPHVVDJHVWREH
ILUHG
([DPSOH7KH:+B&$//:1'352&)LOWHU)XQFWLRQ 3XEOLF)XQFWLRQ:QG3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
O3DUDP$V&:36758&7 $V/RQJ
,IO3DUDPPHVVDJH :0B18//7KHQ
6HOHFW&DVHX&RGH
&DVH+&B$&7,21
)RUP7H[W7H[W )RUP7H[W7H[W 06* +H[O3DUDPPHVVDJH B
+:1' +H[O3DUDPKZQG B
:3$5$0 +H[O3DUDPZ3DUDP B /3$5$0 +H[O3DUDPO3DUDP B &8557+5($' Z3DUDPB
,Q60 ,Q6HQG0HVVDJH YE1HZ/LQH
'R(YHQWV &DVH(OVH (QG6HOHFW (QG,I
:QG3URF 5HWXUQLQJ]HURWRWU\DQGGLVFDUGWKHPHVVDJHGRHVQRWZRUN
:QG3URF &DOO1H[W+RRN([OS3UHY:QG3URFX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
7KH'XPP\&DOOEDFNIXQFWLRQZKLFKLVVKRZQLQ([DPSOHLVEDVLFDOO\DVWXEIXQFWLRQ
IRU6HQG0HVVDJH&DOOEDFNZKLFK\RXXVHWRVHQGDPHVVDJHZKHQWKHXVHUFOLFNVWKH
6HQG0VJ&%EXWWRQ,WGRHVQRSURFHVVLQJLWVRQO\UHDVRQIRUH[LVWLQJLVWRDOORZWKHUHFHLYLQJ
WKUHDGWRSURSHUO\FDOOEDFNWRDFDOOEDFNIXQFWLRQ
([DPSOH7KH&DOOEDFN)XQFWLRQIRUWKH6HQG0HVVDJH&DOOEDFN)XQFWLRQ 3XEOLF6XE'XPP\&DOOEDFN%\9DOKZQG$V/RQJ%\9DOX0VJ$V/RQJB %\9DOGZ'DWD$V/RQJ%\9DOO5HVXOW$V/RQJ
'RQRWKLQJDQGUHWXUQ (QG6XE
7KDWLVLWIRUWKHFRGHLQWKH0RGXOHEDVPRGXOH$V([DPSOHVKRZVPRVWRIWKHFRGH LQWKH)RUPIUPPRGXOHFRQVLVWVRIHYHQWKDQGOHUVIRUWKHFRPPDQGEXWWRQV,WDOVRLQFOXGHV
WKH)RUPB4XHU\8QORDGVKXWGRZQPHWKRG
([DPSOH6RXUFH&RGHIRUWKH)RUPIUP0RGXOH
67$57
3ULYDWH6XEFPG6XEFODVVB&OLFN
7H[W7H[W
&DOO6HW:QG3URF+RRN (QG6XE
3ULYDWH6XEFPG8Q6XEFODVVB&OLFN &DOO5HPRYH:QG3URF+RRN (QG6XE
3ULYDWH6XEFPG6HQG0VJ1RWLI\B&OLFN
&DOO6HQG1RWLI\0HVVDJH)RUPKZQG:0B18// (QG6XE
3ULYDWH6XEFPG6HQG0VJB&OLFN
&DOO6HQG0HVVDJH)RUPKZQG:0B18//
(QG6XE
3ULYDWH6XEFPG6HQG0VJ72B&OLFN
'LPUHWYDO$V/RQJ
&DOO6HQG0HVVDJH7LPHRXW)RUPKZQG:0B18//6072B%/2&.UHWYDO
(QG6XE
3ULYDWH6XEFPG3RVW0HVVDJHB&OLFN
&DOO3RVW0HVVDJH)RUPKZQG:0B18//
(QG6XE
3ULYDWH6XEFPG6HQG0VJ&%B&OLFN
&DOO6HQG0HVVDJH&DOOEDFN)RUPKZQG:0B18//$GGUHVV2I'XPP\&DOOEDFN
(QG6XE
3ULYDWH6XEFPG%URDGFDVW0VJB&OLFN
'LP5HW,QGLFDWRU$V/RQJ
5HW,QGLFDWRU %URDGFDVW6\VWHP0HVVDJH%6)B127,0(287,)127+81*B
%60B$//&20321(176:0B18//
0VJ%R[7KHUHWXUQYDOXHIRU%URDGFDVW6\VWHP0HVVDJH +H[5HW,QGLFDWRU
(QG6XE
3ULYDWH6XEFPG6HQG'OJ0VJB&OLFN
&DOO6HQG'OJ,WHP0HVVDJH)RUPKZQG:0B18//
(QG6XE
7KHFRQWURO,' FDQEHIRXQGE\XVLQJ6S\
&/($183
3ULYDWH6XE)RUPB4XHU\8QORDG&DQFHO$V,QWHJHU8QORDG0RGH$V,QWHJHU
,I,V+RRNHG2U,V'%*+RRNHG7KHQ &DQFHO
0VJ%R[8QKRRNEHIRUHFORVLQJRUWKH,'(ZLOOFUDVK
(QG,I
(QG6XE
7KHFRGHEHKLQGWKHWRSWZREXWWRQVLQVWDOOVDQGUHPRYHVWKH:+B&$//:1'352&KRRN 7KHRWKHUEXWWRQVFDOOHDFK6HQG0HVVDJHIXQFWLRQDORQJZLWKD3RVW0HVVDJHIXQFWLRQ
1RWLFHWKDWWKH6HQG0HVVDJHDQG3RVW0HVVDJHIXQFWLRQVDOOVHQGWKH:0B18//PHVVDJH
7KLVLVEHFDXVHWKLVPHVVDJHGRHVQRWKLQJDQGWKHUHIRUHZLOOQRWDIIHFWRWKHUDSSOLFDWLRQV
DGYHUVHO\ZKHQEURDGFDVW7KH)RUPB4XHU\8QORDGPHWKRGVWRSVWKHDSSOLFDWLRQIURP
VKXWWLQJGRZQLIWKHKRRNLVVWLOOLQVWDOOHGDQGSUHVHQWVDPHVVDJHWRWKHXVHUWRUHPRYHWKH
KRRNEHIRUHVKXWWLQJGRZQ
7RXVHWKHDSSOLFDWLRQGRXEOHFOLFNLWVH[HFXWDEOHILOHDQGFOLFNWKHKRRNEXWWRQ$WWKLVSRLQW
WKHKRRNLVLQSODFHDQGLVZDWFKLQJIRUWKH:0B18//PHVVDJH&OLFNLQJWKH6HQG0VJ
6HQG0VJ1RWLI\6HQG0VJ726HQG0VJ&%RU6HQG'OJ0VJEXWWRQVZLOOSODFHDQHZOLQHRI
WH[WLQWKHWH[WER[EHFDXVHHDFK6HQG0HVVDJHIXQFWLRQLVVHQGLQJWKH:0B18//PHVVDJH
WRWKH)RUPZLQGRZ7KHKRRN VILOWHUIXQFWLRQLQWHUFHSWVWKHPHVVDJHEHIRUHLWLVVHQWDQG
VHQGVDOLQHRILQIRUPDWLRQUHJDUGLQJWKHPHVVDJHWRWKH7H[WWH[WER[$IWHUWKHILOWHU
IXQFWLRQUHWXUQVWKH6HQG0HVVDJHIXQFWLRQFDQVHQGWKHPHVVDJHWRLWVGHVWLQDWLRQZLQGRZ
:KHQ\RXFOLFNWKH%URDGFDVW0VJEXWWRQDVLQJOH:0B18//PHVVDJHLVVHQWWRDOOWKHWRS
OHYHOZLQGRZVDQGGHYLFHGULYHUVLQWKHV\VWHPWKURXJK%URDGFDVW6\VWHP0HVVDJH$
GLIIHUHQWOLQHLVDGGHGWRWKH7H[WWH[WER[IRUHDFK:0B18//PHVVDJHVHQW7KHZLQGRZ
KDQGOHLVGLVSOD\HGLQGLFDWLQJWRZKLFKZLQGRZWKH:0B18//PHVVDJHZDVVHQW
FDQVHQGPHVVDJHVWRWRSOHYHOZLQGRZVE\XVLQJWKH+:1'B%52$'&$67FRQVWDQWLQWKH
KZQGSDUDPHWHURIWKH6HQG0HVVDJHIXQFWLRQ8VLQJWKLVIXQFWLRQZLOOQRWVHQGPHVVDJHVWR
GHYLFHGULYHUVZKLFKLVZKDWKDSSHQVZKHQ\RXXVH%URDGFDVW6\VWHP0HVVDJH
$UHWXUQYDOXHLVVHWLQWKHOSGZ5HFLSLHQWVSDUDPHWHURIWKH%URDGFDVW6\VWHP0HVVDJH
IXQFWLRQDIWHUWKHIXQFWLRQUHWXUQV7KHUHWXUQYDOXHGHILQHVZKDWZLQGRZVRUGHYLFHGULYHUV
UHFHLYHGWKHPHVVDJH$1'LQJWKLVUHVXOWZLWKWKHIROORZLQJFRQVWDQWVSURYLGHVLQIRUPDWLRQ
DERXWZKLFKZLQGRZVRUGHYLFHGULYHUVUHFHLYHGWKHEURDGFDVWPHVVDJH 3XEOLF&RQVW%60B$//&20321(176 +
3XEOLF&RQVW%60B9;'6 +
3XEOLF&RQVW%60B1(7'5,9(5 +
3XEOLF&RQVW%60B,167$//$%/('5,9(56 +
3XEOLF&RQVW%60B$33/,&$7,216 +
3XEOLF&RQVW%60B$//'(6.7236 +
&OLFNLQJWKH3RVW0HVVDJHEXWWRQSRVWVDPHVVDJHWRWKLVDSSOLFDWLRQ VPHVVDJHTXHXH7KLV
ZLOOQRWGLVSOD\DQHZOLQHLQWKH7H[WWH[WER[7KLVLVWKHFRUUHFWEHKDYLRUEHFDXVHWKH
PHVVDJHLVEHLQJSRVWHGDQGQRWVHQWWKURXJKRQHRIWKH6HQG0HVVDJHIXQFWLRQV
6XEVWLWXWLQJWKH%6)B32670(66$*(FRQVWDQWLQWKHGZ)ODJVSDUDPHWHURIWKH
%URDGFDVW6\VWHP0HVVDJHIXQFWLRQFDXVHVPHVVDJHVWREHSRVWHGLQVWHDGRIVHQWWRDOO
ZLQGRZVDQGGHYLFHGULYHUV,IWKLVVXEVWLWXWLRQLVPDGHWKH:+B&$//:1'352&KRRNZLOO
QRWEHDEOHWRLQWHUFHSWWKHSRVWHGPHVVDJHDQGQRWH[WZLOOEHSODFHGLQWKH7H[WWH[WER[
&DYHDWV 7KHPDLQWKLQJWRUHPHPEHUZKHQXVLQJWKLVKRRNLVWKDWLWFDSWXUHVRQO\PHVVDJHVWKDWDUH
VHQWXVLQJWKH6HQG0HVVDJHIXQFWLRQ,WZLOOQRWFDSWXUHPHVVDJHVWKDW\RXSRVWWRWKH
PHVVDJHTXHXHXVLQJWKH3RVW0HVVDJHIXQFWLRQ)RUWKHFDVHRISRVWHGPHVVDJHV\RX
VKRXOGXVHWKH:+B*(70(66$*(KRRNZKLFKLVGLVFXVVHGLQ&KDSWHU
8VLQJDWKUHDGVSHFLILFKRRNFDQGHJUDGHSHUIRUPDQFHIRUDVLQJOHWKUHDGEHFDXVHLW
RSHUDWHVIURPZLWKLQWKDWWKUHDGRQO\$V\VWHPZLGHKRRNUHVLGHVLQD'//WKDWLVLQMHFWHG
LQWRDOOUXQQLQJSURFHVVHV7KHUHIRUHLIWKHKRRN VILOWHUIXQFWLRQFRGHSXWVXQGXHVWUDLQRQWKH
V\VWHPHYHU\WKUHDGLQWKHV\VWHPFDQVORZWRDFUDZO7KLVFDXVHVWKHHQWLUHV\VWHPWRDFW
VOXJJLVKO\:KHQZULWLQJILOWHUIXQFWLRQVIRUKRRNVRIHLWKHUVFRSH\RXVKRXOGH[LWWKHFRGHDV
VRRQDVSRVVLEOH%\WKLV,PHDQWKDWLIWKHKRRNLQWHUFHSWVPHVVDJHVWKDWDUHRIQRLQWHUHVW
\RXVKRXOGH[LWWKHILOWHUIXQFWLRQLPPHGLDWHO\$VZHVDZHDUOLHUZLQGRZVDUHFRQVWDQWO\
EHLQJERPEDUGHGZLWKPHVVDJHV6SHQGLQJWLPHSURFHVVLQJDIHZRIWKRVHPHVVDJHVPRVW
OLNHO\ZLOOQRWSXWDVWUDLQRQWKHV\VWHP+RZHYHUVSHQGLQJWLPHSURFHVVLQJDOOPHVVDJHVZLOO
FHUWDLQO\SODFHDVWUDLQRQWKHV\VWHP
7KHUHLVDEXJXVLQJWKLVKRRNRQWKH:LQGRZVRSHUDWLQJV\VWHP7KLVEXJLVGHVFULEHGLQ
DUWLFOH4,QVKRUWZKHQWKLVKRRNLVLQVWDOOHGDVDV\VWHPZLGHKRRNDQGWKHXVHU
SUHVVHVWKH$/7(6&NH\FRPELQDWLRQWKH'//LVLQMHFWHGLQWRWKH.(51(/'//SURFHVV
:KHQWKHKRRNLVUHOHDVHGWKHKRRN'//LVQRWUHPRYHGIURPWKH.(51(/'//SURFHVV
7KHRQO\VROXWLRQLVWRUHVWDUWWKHPDFKLQH
&KDSWHU:+B&$//:1'352&5(7 7KHQH[WORJLFDOFKRLFHRIKRRNVWRGLVFXVVLVWKH:+B&$//:1'352&5(7KRRN7KLVKRRN
LQWHUFHSWVPHVVDJHVQRWRQO\DIWHUWKH:+B&$//:1'352&KRRNKDVLQWHUFHSWHGWKH
PHVVDJHEXWDOVRDIWHUWKHZLQGRZSURFHGXUHKDVSURFHVVHGWKHPHVVDJH7KLVFKDSWHUZLOO
GLVFXVVWKH:+B&$//:1'352&5(7KRRNDQGFRPSDUHDQGFRQWUDVWLWZLWKWKH
:+B&$//:1'352&KRRNZKLFKZDVGLVFXVVHGLQ&KDSWHU
+RZ:+B&$//:1'352&5(7:RUNV /LNHWKH:+B&$//:1'352&KRRNWKH:+B&$//:1'352&5(7KRRNLVXVHGWRLQWHUFHSW
PHVVDJHVVHQWWKURXJKWKHYDULRXV6HQG0HVVDJHIXQFWLRQW\SHV+RZHYHU
:+B&$//:1'352&5(7LQWHUFHSWVLWVPHVVDJHVODWHUWKDQ:+B&$//:1'352&GRHV
ZKHUHDVWKHODWWHULQWHUFHSWVPHVVDJHVEHIRUHWKH\DUHSURFHVVHGE\WKHLUZLQGRZSURFHGXUH
WKHIRUPHULQWHUFHSWVPHVVDJHVRQO\DIWHUWKHZLQGRZSURFHGXUHKDVSURFHVVHGWKHP$VD
UHVXOW\RXRQFHDJDLQFDQQRWPRGLI\RUGLVFDUGWKHPHVVDJHLQWHUFHSWHGWKURXJKWKLVKRRNLQ
WKLVFDVHEHFDXVHPHVVDJHSURFHVVLQJLVODUJHO\FRPSOHWH
+RZHYHUWKH:+B&$//:1'352&5(7KRRNSURYLGHVH[WUDLQIRUPDWLRQWKDW
:+B&$//:1'352&GRHVQRW)LUVWLWPDNHVDYDLODEOHWKHUHWXUQYDOXHRIWKHFDOOWRWKH
6HQG0HVVDJHIXQFWLRQ6HFRQGWKHZ3DUDPVSHFLILHVZKHWKHUWKHVHQWPHVVDJHRULJLQDWHV
IURPWKHVDPHSURFHVVLQZKLFKWKHKRRNLVLQVWDOOHGRUIURPDQRWKHUSURFHVV$QDSSOLFDWLRQ
FRXOGXVHWKLVKRRNWROLVWHQIRUDVSHFLILFPHVVDJHWKDWLVEURDGFDVWIURPDQRWKHUDSSOLFDWLRQ
DQGWDNHVRPHDFWLRQEDVHGRQUHFHLYLQJWKDWPHVVDJH
'// DQGXVHLWDVDV\VWHPZLGHKRRN$WKUHDGVSHFLILFKRRNLQWHUFHSWVDOOPHVVDJHV
ZLWKLQWKHWKUHDGLQZKLFKLWLVLQVWDOOHG:KHQDKRRNLVLQVWDOOHGDVDV\VWHPZLGHKRRNLW
KDVWREHSODFHGLQD'//7KLV'//LVLQMHFWHGLQWRHYHU\SURFHVVVRWKDWWKHKRRNFDQ
RSHUDWHRQDOOPHVVDJHVLQWKHV\VWHP6HH&KDSWHUIRUDWKRURXJKGLVFXVVLRQRIWKLV WRSLF
8VLQJWKH:+B&$//:1'352&DQG:+B&$//:1'352&5(7KRRNVWRJHWKHU\RXKDYH
WKHDELOLW\WRZDWFKIRUVHQWPHVVDJHVDQGGHWHUPLQHLIDQ\RIWKHLUSDUDPHWHUVZHUHPRGLILHG
E\DVXEFODVVSURFHGXUHRUSRVVLEO\E\DFRPSOHWHO\GLIIHUHQWKRRNWKDWLVLQVWDOOHG7KLVLV KRZLWZRXOGRSHUDWH
7KH:+B&$//:1'352&KRRNFDSWXUHVWKHPHVVDJHZKHUHWKHPHVVDJH SDUDPHWHUYDOXHVDUHVWRUHGLQWKHDSSOLFDWLRQ
7KHZLQGRZSURFHGXUHDQGDQ\VXEFODVVZLQGRZSURFHGXUHVWKDWPLJKWKDYHEHHQ LQVWDOOHGSURFHVVWKHPHVVDJH
7KHPHVVDJHLVVHQWWRWKH:+B&$//:1'352&5(7KRRNZKHUHWKHPHVVDJH
SDUDPHWHUVDUHH[DPLQHGDQGFRPSDUHGWRWKHRULJLQDOSDUDPHWHUVWKDWZHUHVHQWWR
WKH:+B&$//:1'352&KRRN,IWKH\DUHGLIIHUHQW\RXNQRZWKDWVRPHZKHUHLQWKH
ZLQGRZSURFHGXUHRUSHUKDSVLQDVXEFODVVZLQGRZSURFHGXUHWKHPHVVDJH
SDUDPHWHUVZHUHPRGLILHG
)LOWHU)XQFWLRQ'HILQLWLRQ 7KHILOWHUIXQFWLRQSURWRW\SHIRUWKLVKRRNLVZULWWHQDVIROORZV
3XEOLF)XQFWLRQ:QG3URF5HW%\9DOX&RGH$V/RQJB
,WVSDUDPHWHUVDUH X&RGH
%\9DOZ3DUDP$V/RQJB
O3DUDP$V&:35(76758&7 $V/RQJ
7KHFRGHWKHV\VWHPVHQGVWRWKLVILOWHUIXQFWLRQ7KH+&B$&7,21FRGHLVWKHRQO\ KRRNFRGHWKDWWKHV\VWHPVHQGVWRWKLVILOWHUIXQFWLRQ7KLVFRGHLVGHILQHGDV
3ULYDWH&RQVW+&B$&7,21
:KHQWKLVFRGHLVVHQWWRWKHILOWHUIXQFWLRQWKHVHQWPHVVDJHFDQEHSURFHVVHG,I
+&B$&7,21LVQRWSDVVHG\RXVKRXOGVNLSPHVVDJHSURFHVVLQJDQGFDOO &DOO1H[W+RRN([LPPHGLDWHO\
Z3DUDP
6SHFLILHVZKLFKSURFHVVWKHPHVVDJHRULJLQDWHGIURP,ILWVYDOXHLVWKHPHVVDJH
RULJLQDWHGIURPDGLIIHUHQWSURFHVV,ILWVYDOXHLV]HURWKHPHVVDJHRULJLQDWHGIURP
O3DUDP
WKHFXUUHQWSURFHVV
+ROGVDSRLQWHUWRWKH&:35(76758&7VWUXFWXUH
7KHUHWXUQYDOXHIRUWKLVILOWHUIXQFWLRQVKRXOGEHWKHUHWXUQYDOXHRIWKH&DOO1H[W+RRN([
IXQFWLRQ,IWKLVIXQFWLRQLVQRWFDOOHGWKHILOWHUIXQFWLRQVKRXOGUHWXUQD]HUR,GRQRW
UHFRPPHQGVNLSSLQJWKHFDOOWR&DOO1H[W+RRN([WKRXJK)DLOLQJWRFDOOWKLVIXQFWLRQZLOOIRUFH
RWKHUILOWHUIXQFWLRQVLQWKHFKDLQWRQRWEHFDOOHG
7KHGHILQLWLRQIRUWKHX&RGHSDUDPHWHULVH[DFWO\WKHVDPHIRUWKLVKRRNDVLWLVIRUWKH
:+B&$//:1'352&KRRN7KHZ3DUDPDQGO3DUDPSDUDPHWHUVRIWKLVKRRNFRQWDLQ GLIIHUHQWLQIRUPDWLRQFRPSDUHGWRWKH:+B&$//:1'352&KRRN7KH
:+B&$//:1'352&5(7KRRNXVHVZ3DUDPWRGHWHUPLQHZKLFKSURFHVVWKHPHVVDJH
RULJLQDWHGIURP7KH:+B&$//:1'352&KRRNXVHVLWWRGHWHUPLQHZKLFKWKUHDGWKLV
PHVVDJHRULJLQDWHGIURP7KHO3DUDPSDUDPHWHUIRUHDFKKRRNFRQWDLQVDSRLQWHUWRD
VWUXFWXUHVSHFLILFWRWKDWKRRN
7KH&:35(76758&7VWUXFWXUHWKDWWKHO3DUDPSDUDPHWHUSRLQWVWRLVGHILQHGDVIROORZV
3XEOLF7\SH&:35(76758&7
O5HVXOW$V/RQJ
O3DUDP$V/RQJ
Z3DUDP$V/RQJ
PHVVDJH$V/RQJ KZQG$V/RQJ
(QG7\SH
,WKDVWKHIROORZLQJPHPEHUV O5HVXOW
O3DUDP
7KHUHWXUQYDOXHRIWKHZLQGRZSURFHGXUHDIWHUSURFHVVLQJWKHPHVVDJH 7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
Z3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH
PHVVDJH KZQG
7KHPHVVDJHLGHQWLILHU
7KHZLQGRZKDQGOHWKDWWKHPHVVDJHLVGLUHFWHGWR
7KLVVWUXFWXUHLVVLPLODUWRWKH&:36758&7VWUXFWXUHWKDWWKH:+B&$//:1'352&KRRN
XVHVH[FHSWWKDWWKLVVWUXFWXUHFRQWDLQVDQH[WUDPHPEHUO5HVXOW%HFDXVHWKHKRRN
LQWHUFHSWVWKHPHVVDJHDIWHUWKHZLQGRZSURFHGXUHUHWXUQVWKLVYDOXHLVDYDLODEOH
/RFDWLRQRI7KLV+RRNLQWKH6\VWHP 7KLVKRRNLVORFDWHGDIWHUWKHZLQGRZSURFHGXUHILQLVKHVSURFHVVLQJWKHVHQWPHVVDJHDV
)LJXUHVKRZV7KLVKRRNLQWHUFHSWVWKHPHVVDJHIURPLQVLGHWKHWKUHDGWKDWUHFHLYHG
WKHVHQWPHVVDJH
)LJXUH7KHORFDWLRQRIWKH:+B&$//:1'352&5(7IXQFWLRQLQWKHPHVVDJLQJV\VWHP
$7KUHDG6SHFLILF([DPSOH 7REHWWHULOOXVWUDWHWKLVKRRN VIXQFWLRQDQGSRVLWLRQLQWKHPHVVDJLQJV\VWHP,ZLOOPRGLI\WKH
WKUHDGVSHFLILFH[DPSOHIRUWKH:+B&$//:1'352&KRRNWRLQFRUSRUDWHWKH
:+B&$//:1'352&5(7KRRN$V)LJXUHVKRZVWKHLQWHUIDFHLVVLPLODUWRWKH H[DPSOHLQ&KDSWHUH[FHSWIRUWKHRXWSXW
)LJXUH$VFUHHQVKRWRIWKH:+B&$//:1'352&5(7H[DPSOHDSSOLFDWLRQ
7DEOHGHILQHVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV 7DEOH1RQGHIDXOW3URSHUW\9DOXHVIRUWKH)RUPDQG,WV&RQWUROV &RQWURO
3URSHUW\
9DOXH
)RUP
&DSWLRQ
:+B&$//:1'352&+RRN7HVW
FPG6HQG0VJ
&DSWLRQ
6HQG0VJ
FPG6HQG0VJ72
&DSWLRQ
6HQG0VJ72
FPG3RVW0HVVDJH
&DSWLRQ
3RVW0HVVDJH
FPG3RVW7KUHDG0VJ
&DSWLRQ
3RVW7KUHDG0VJ
FPG6HQG0VJ&%
&DSWLRQ
6HQG0VJ&%
FPG%URDGFDVW0VJ
&DSWLRQ
%URDGFDVW0VJ
FPG6HQG'OJ0VJ
&DSWLRQ
6HQG'OJ0VJ
FPG6HQG0VJ1RWLI\
&DSWLRQ
6HQG0VJ1RWLI\
)UDPH
&DSWLRQ
&DOO:QG3URF
7H[W
0XOWL/LQH
7UXH
7KHFRGHIRUWKLVH[DPSOHLVYHU\VLPLODUWRWKHFRGHIRUWKH:+B&$//:1'352&H[DPSOH,
ZLOOIRFXVWKHIROORZLQJGLVFXVVLRQRQWKHFKDQJHVWRWKHFRGHVWDUWLQJZLWKWKH0RGXOHEDV
PRGXOH
$VLQJOHSULYDWHPHPEHUYDULDEOHE3URF5HW+RRNZDVDGGHGWRWKHFRGH%$6 PRGXOHWR
KROGWKHKRRNKDQGOHIRUWKH:+B&$//:1'352&5(7KRRN7KHSXEOLFDQGPRGXOHOHYHO
YDULDEOHVGHFODUHGLQWKH%$6PRGXOHDUHQRZ 3ULYDWHK3URF5HW+RRN$V/RQJ 3ULYDWHK3URF+RRN$V/RQJ
3XEOLF,V+RRNHG$V%RROHDQ
7KH6HW+RRNVIXQFWLRQZKLFKLVVKRZQLQ([DPSOHDGGVDOLQHRIFRGHWKDWFDOOV 6HW:LQGRZV+RRN([WRVHWWKH:+B&$//:1'352&5(7KRRN
([DPSOH7KH6HW+RRNV)XQFWLRQWR,QVWDOOWKH:+B&$//:1'352&5(7+RRN 3XEOLF6XE6HW+RRNV ,I,V+RRNHG7KHQ
0VJ%R['RQ WKRRN&$//:1'352&WZLFHRU\RXZLOOEHXQDEOHWRXQKRRNLW
(OVH
K3URF+RRN 6HW:LQGRZV+RRN([:+B&$//:1'352&$GGUHVV2I:QG3URFB
$SS7KUHDG,'
K3URF5HW+RRN 6HW:LQGRZV+RRN([:+B&$//:1'352&5(7$GGUHVV2I :QG3URF5HWB
$SS7KUHDG,'
,V+RRNHG 7UXH (QG,I
(QG6XE
7KH5HPRYH+RRNVIXQFWLRQZKLFKLVVKRZQLQ([DPSOHDGGVDOLQHRIFRGHWKDW FDOOV8QKRRN:LQGRZV+RRN([WRUHPRYHWKH:+B&$//:1'352&5(7KRRN
([DPSOH7KH5HPRYH+RRNV)XQFWLRQWR5HPRYHWKH:+B&$//:1'352&5(7+RRN 3XEOLF6XE5HPRYH+RRNV 'LPWHPS$V/RQJ
WHPS 8QKRRN:LQGRZV+RRN([K3URF5HW+RRN
WHPS 8QKRRN:LQGRZV+RRN([K3URF+RRN
,V+RRNHG )DOVH
(QG6XE
7KH:QG3URF5HWIXQFWLRQZKLFKLVVKRZQLQ([DPSOHLVWKHILOWHUIXQFWLRQIRUWKH
:+B&$//:1'352&5(7KRRN7KLVIXQFWLRQRXWSXWVWKHQDPHRIWKHKRRNIXQFWLRQWKH
Z3DUDPYDOXHDQGWKHYDOXHVRIWKH&:35(76758&7VWUXFWXUH$FDOOLVPDGHWR
&DOO1H[W+RRN([DWWKHHQGRIWKHIXQFWLRQDQGWKHYDOXHWKDWWKLVIXQFWLRQUHWXUQVLVSDVVHG
RQDVWKHUHWXUQYDOXHRIWKHILOWHUIXQFWLRQ
([DPSOH7KH:QG3URF5HW)LOWHU)XQFWLRQIRUWKH:0B&$//:1'352&5(7+RRN 3XEOLF)XQFWLRQ:QG3URF5HW%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
O3DUDP$V&:35(76758&7 $V/RQJ
,IO3DUDPPHVVDJH :0B18//7KHQ
6HOHFW&DVHX&RGH
&DVH+&B$&7,21
)RUP7H[W7H[W )RUP7H[W7H[W &$//:1'352&5(7B
+:1' +H[O3DUDPKZQG B
:3$5$0 +H[O3DUDPZ3DUDP B /3$5$0 +H[O3DUDPO3DUDP B 5(79$/ +H[O3DUDPO5HVXOW B
&8557+5($' +H[Z3DUDP B
,Q60 ,Q6HQG0HVVDJH YE1HZ/LQH
'R(YHQWV &DVH(OVH (QG6HOHFW (QG,I
:QG3URF5HW &DOO1H[W+RRN([K3URF5HW+RRNX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
7KH:QG3URFIXQFWLRQVKRZQLQ([DPSOHLVWKHILOWHUIXQFWLRQIRUWKH :+B&$//:1'352&KRRN
([DPSOH7KH:QG3URF)LOWHU)XQFWLRQIRUWKH:0B&$//:1'352&+RRN 3XEOLF)XQFWLRQ:QG3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
O3DUDP$V&:36758&7 $V/RQJ
,IO3DUDPPHVVDJH :0B18//7KHQ
6HOHFW&DVHX&RGH
&DVH+&B$&7,21
)RUP7H[W7H[W )RUP7H[W7H[W &$//:1'352&B
+:1' +H[O3DUDPKZQG B
:3$5$0 +H[O3DUDPZ3DUDP B
/3$5$0 +H[O3DUDPO3DUDP B
&8557+5($' Z3DUDPB
,Q60 ,Q6HQG0HVVDJH YE1HZ/LQH
'R(YHQWV
&DVH(OVH
(QG6HOHFW
(QG,I
:QG3URF &DOO1H[W+RRN([K3URF+RRNX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
7KH'XPP\&DOOEDFNIXQFWLRQVKRZQLQ([DPSOHLVEDVLFDOO\DVWXEIXQFWLRQIRU
6HQG0HVVDJH&DOOEDFN,WGRHVQRSURFHVVLQJLWVRQO\UHDVRQIRUH[LVWLQJLVWRDOORZWKH
UHFHLYLQJWKUHDGWRSURSHUO\FDOOEDFNWRDFDOOEDFNIXQFWLRQ
([DPSOH7KH&DOOEDFN)XQFWLRQIRUWKH6HQG0HVVDJH&DOOEDFN$3,)XQFWLRQ
3XEOLF6XE'XPP\&DOOEDFN%\9DOKZQG$V/RQJ%\9DOX0VJ$V/RQJB
'RQRWKLQJDQGUHWXUQ
%\9DOGZ'DWD$V/RQJ%\9DOO5HVXOW$V/RQJ
(QG6XE
([DPSOHVKRZVWKHFRGHFRQWDLQHGLQWKH)RUPIUPPRGXOH
([DPSOH6RXUFH&RGHIRUWKH)RUPIUP0RGXOH 2SWLRQ([SOLFLW
3ULYDWH6XEFPG+RRNB&OLFN
7H[W7H[W &DOO6HW+RRNV (QG6XE
3ULYDWH6XEFPG8Q+RRNB&OLFN
&DOO5HPRYH+RRNV (QG6XE
3ULYDWH6XEFPG6HQG0VJ1RWLI\B&OLFN
&DOO6HQG1RWLI\0HVVDJH)RUPKZQG:0B18//
(QG6XE
3ULYDWH6XEFPG6HQG0VJB&OLFN
&DOO6HQG0HVVDJH)RUPKZQG:0B18// +:1'B7230267
(QG6XE
3ULYDWH6XEFPG6HQG0VJ72B&OLFN
'LPUHWYDO$V/RQJ
&DOO6HQG0HVVDJH7LPHRXW)RUPKZQG:0B18//6072B%/2&.B
UHWYDO (QG6XE
3ULYDWH6XEFPG3RVW0HVVDJHB&OLFN
&DOO3RVW0HVVDJH)RUPKZQG:0B18// (QG6XE
3ULYDWH6XEFPG6HQG0VJ&%B&OLFN
&DOO6HQG0HVVDJH&DOOEDFN)RUPKZQG:0B18//B
$GGUHVV2I'XPP\&DOOEDFN
(QG6XE
3ULYDWH6XEFPG%URDGFDVW0VJB&OLFN
'LP5HW,QGLFDWRU$V/RQJ
&DOO%URDGFDVW6\VWHP0HVVDJH%6)B127,0(287,)127+81*5HW,QGLFDWRUB
:0B18//
0VJ%R[7KHUHWXUQYDOXHIRU%URDGFDVW6\VWHP0HVVDJH +H[5HW,QGLFDWRU
(QG6XE
3ULYDWH6XEFPG6HQG'OJ0VJB&OLFN
&DOO6HQG'OJ,WHP0HVVDJH)RUPKZQG:0B18//
(QG6XE
7KHFRQWURO,'FDQEHIRXQGE\XVLQJ6S\
3ULYDWH6XEFPG3RVW7KUHDG0VJB&OLFN
&DOO3RVW7KUHDG0HVVDJH$SS7KUHDG,':0B18//
(QG6XE
&/($183
3ULYDWH6XE)RUPB4XHU\8QORDG&DQFHO$V,QWHJHU8QORDG0RGH$V,QWHJHU
,I,V+RRNHG7KHQ &DQFHO
0VJ%R[8QKRRNEHIRUHFORVLQJRUWKHDSSOLFDWLRQZLOOFUDVK
(QG,I
(QG6XE
:KHQ\RXFOLFNWKHKRRNEXWWRQWKH:+B&$//:1'352&DQG:+B&$//:1'352&5(7 KRRNVDUHERWKLQVWDOOHG&OLFNLQJHLWKHUWKH3RVW0HVVDJHRUWKH3RVW7KUHDG0VJEXWWRQV
GRHVQRWSURGXFHDQ\RXWSXW2QFHDJDLQWKLVKRRNLQWHUFHSWVRQO\VHQWPHVVDJHVQRW
SRVWHGPHVVDJHV
:KHQ\RXFOLFNDQ\RIWKH6HQG0HVVDJHEXWWRQVWKHRXWSXWWRWKHWH[WER[LVDVIROORZV
&$//:1'352&
&$//:1'352&5(7
7KLVLVWKHH[SHFWHGRXWSXW:HFDQVHHWKLVE\ORRNLQJDWWKHORFDWLRQVRIHDFKKRRNLQWKH
PHVVDJLQJV\VWHP
,QLWLDOO\WKH6HQG0HVVDJHIXQFWLRQLVFDOOHG7KLVIXQFWLRQSDVVHVDPHVVDJHGLUHFWO\WRWKH
PHVVDJHORRSRIWKHWKUHDGWKDWFRQWDLQVWKHGHVWLQDWLRQZLQGRZ7KH:+B&$//:1'352&
KRRNLVFDOOHGEHIRUHWKHPHVVDJHLVSDVVHGRQWRWKHZLQGRZSURFHGXUHWKHRSHUDWLQJ
V\VWHPGHWHUPLQHVWKHORFDWLRQVHH&KDSWHUIRUPRUHLQIRUPDWLRQ $IWHUWKH
:+B&$//:1'352&KRRNUHWXUQVWKHPHVVDJHLVSDVVHGRQWRWKHZLQGRZSURFHGXUH,I
WKHZLQGRZSURFHGXUHKDSSHQVWREHVXEFODVVHGWKHPHVVDJHLVILUVWSDVVHGWRWKHVXEFODVV
IXQFWLRQV DQGWKHQRQWRWKHZLQGRZSURFHGXUH:KHQWKHZLQGRZSURFHGXUHLVILQLVKHG
SURFHVVLQJWKHPHVVDJHWKHIXQFWLRQUHWXUQVDQGWKH:+B&$//:1'352&5(7KRRNWKHQ
LQWHUFHSWVWKHPHVVDJHDQGLWVUHWXUQYDOXH$IWHUWKLVKRRNLVILQLVKHGSURFHVVLQJLWSDVVHV
WKHPHVVDJHRQWRWKHQH[WKRRNLQWKHKRRNFKDLQLIRQHH[LVWV$IWHUHDFKKRRNKDV
SURFHVVHGWKHPHVVDJHFRQWUROLVUHWXUQHGWRWKH6HQG0HVVDJHIXQFWLRQ7KH6HQG0HVVDJH
IXQFWLRQWKHQUHWXUQVFRQWUROWRWKHFRGHWKDWFDOOHGLWLQWKLVFDVHWKH9LVXDO%DVLF9% FRGHLQWKH)RUPIUPPRGXOH
7RIXUWKHULQYHVWLJDWHWKHRUGHURIHYHQWVIRUERWKKRRNVPRGLI\WKHDERYHIXQFWLRQVDV
IROORZV)LUVWPRGLI\WKH6HQG0HVVDJHEXWWRQ&RPPDQGB&OLFN WRDSSHDUDVVKRZQLQ
([DPSOHPRGLILHGFRGHLVVKRZQLQEROGIDFH
([DPSOH7KH0RGLILHG(YHQW+DQGOHUIRUWKH6HQG0VJ%XWWRQ 3ULYDWH6XE&RPPDQGB&OLFN
&DOO6HQG0HVVDJH7H[WKZQG:0B6(77(;76HQW7H[W
(QG6XE
&DOOLQJ6HQG0HVVDJHLQWKLVPDQQHUZLOOVHQGWKHWH[W6HQW7H[WWRWKH7H[WWH[WER[
1H[WPRGLI\WKH:QG3URFIXQFWLRQVRWKDWLWDSSHDUVDVVKRZQLQ([DPSOHRQFH DJDLQFKDQJHGOLQHVDUHVKRZQLQEROGIDFH
([DPSOH7KH0RGLILHG:QG3URF)XQFWLRQ 3XEOLF)XQFWLRQ:QG3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
O3DUDP$V&:36758&7 $V/RQJ
,IO3DUDPPHVVDJH :0B6(77(;7$QGO3DUDPKZQG )RUP7H[WKZQG7KHQ
6HOHFW&DVHX&RGH
&DVH+&B$&7,21
0VJ%R[,QVLGHWKH:+B&$//:1'352&KRRN
&DVH(OVH
(QG6HOHFW
(QG,I
:QG3URF &DOO1H[W+RRN([K3URF+RRNX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
7KLVILOWHUIXQFWLRQZDLWVIRUWKH:0B6(77(;7PHVVDJHWREHVHQWWRWKH7H[WWH[WER[
:KHQWKLVPHVVDJHLVVHQWWKHILOWHUIXQFWLRQGLVSOD\VDPHVVDJHER[ZLWKWKHWH[W,QVLGHWKH
:+B&$//:1'352&KRRN:HZRXOGQRWZDQWWRWU\WRSODFHDPHVVDJHLQWKHWH[WER[LQ
WKLVIXQFWLRQEHFDXVHWKLVZRXOGDXWRPDWLFDOO\FDXVHD:0B6(77(;7PHVVDJHWREHVHQWWR
WKHWH[WER[ZLWKWKHUHOHYDQWWH[WLQVLGHRIWKHPHVVDJHVWUXFWXUH7KHILOWHUIXQFWLRQZRXOG
WKHQEHUHHQWHUHGZKHQLWGHWHFWHGWKLVPHVVDJH7KHUHIRUHWKHIXQFWLRQZRXOGQHYHUUHWXUQ
DQGZRXOGHYHQWXDOO\*3)ZLWKDVWDFNRYHUIORZ8VLQJWKHPHVVDJHER[FLUFXPYHQWVWKLV
SUREOHP
)LQDOO\\RXVKRXOGPRGLI\WKH:QG3URF5HWIXQFWLRQWRDSSHDUDVVKRZQLQ([DPSOH PRGLILHGOLQHVDUHLQEROGIDFH
([DPSOH7KH0RGLILHG:QG3URF5HW)XQFWLRQ 3XEOLF)XQFWLRQ:QG3URF5HW%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
O3DUDP$V&:35(76758&7 $V/RQJ
,IO3DUDPPHVVDJH :0B6(77(;7$QGO3DUDPKZQG )RUP7H[WKZQG7KHQ
6HOHFW&DVHX&RGH
&DVH+&B$&7,21
0VJ%R[,QVLGHWKH:+B&$//:1'352&5(7KRRN
&DVH(OVH
(QG6HOHFW
(QG,I
:QG3URF5HW &DOO1H[W+RRN([K3URF5HW+RRNX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
2QFHDJDLQZHXVHWKHPHVVDJHER[WRGHFODUHWKDWWKHFRGHLQVLGHWKH
:+B&$//:1'352&5(7ILOWHUIXQFWLRQLVEHLQJH[HFXWHG
$IWHU\RXPDNHWKHVHFKDQJHVFRPSLOHWKHDSSOLFDWLRQDQGH[HFXWHLW%HIRUHJRLQJDQ\
IXUWKHU\RXQHHGWRVWDUW6S\DQGVHWLWWRZDWFKIRUDOO:0B6(77(;7PHVVDJHVVHQWWR
WKLVDSSOLFDWLRQ V7H[WWH[WER[
&OLFNWKHKRRNEXWWRQRQWKHDSSOLFDWLRQWRLQVWDOOERWKKRRNV1H[WFOLFNWKH6HQG0HVVDJH
EXWWRQ7KHHYHQWVDVWKH\RFFXUKDSSHQDVIROORZV
7KH6HQG0HVVDJHIXQFWLRQLVFDOOHGVHQGLQJWKH:0B6(77(;7PHVVDJHZLWKWKH VWULQJ6HQW7H[WWRWKH7H[WWH[WER[,Q)LJXUH6S\VKRZVWKDWWKH
:0B6(77(;7PHVVDJHKDVEHHQVHQWWRWKHGHVWLQDWLRQZLQGRZ7KHWKLUGLWHP
GLVSOD\HGLQ6S\LVDQ6PHDQLQJWKDWWKH6HQG0HVVDJHIXQFWLRQKDVVHQWWKH PHVVDJH$Q5PHDQVWKDWWKH6HQG0HVVDJHIXQFWLRQKDVUHWXUQHG
7KH:+B&$//:1'352&IXQFWLRQLQWHUFHSWVWKH:0B6(77(;7PHVVDJHEHIRUHLW JHWVWRWKHZLQGRZSURFHGXUHRIWKHGHVWLQDWLRQZLQGRZ
7KH:+B&$//:1'352&IXQFWLRQGLVSOD\VWKHPHVVDJHER[ZLWKWKHWH[W,QVLGH WKH:+B&$//:1'352&KRRN
7KH:+B6(77(;7PHVVDJHLVSDVVHGRQWRDQ\RWKHU:+B&$//:1'352&KRRNV LQWKLVKRRNFKDLQ
7KHPHVVDJHLVVHQWRQWRWKHZLQGRZSURFHGXUHWREHSURFHVVHG3URFHVVLQJWKLV
PHVVDJHVHQGVWKH6HQW7H[WVWULQJWRWKH7H[WWH[WER[DV)LJXUHVKRZV
$IWHUH[LWLQJWKHZLQGRZSURFHGXUHWKH:0B6(77(;7PHVVDJHLVVHQWWRWKH :+B&$//:1'352&5(7KRRN
7KHILOWHUIXQFWLRQIRUWKH:+B&$//:1'352&5(7KRRNGLVSOD\VDPHVVDJHER[ ZLWKWKHVWULQJ,QVLGHWKH:+B&$//:1'352&5(7KRRN([DPLQLQJ6S\
UHYHDOVWKDWWKH6HQG0HVVDJHIXQFWLRQKDVQRWUHWXUQHGDWWKLVSRLQW
7KH:+B6(77(;7PHVVDJHLVSDVVHGRQWRDQ\RWKHU:+B&$//:1'352&5(7 KRRNVLQWKLVKRRNFKDLQ
)LQDOO\WKH6HQG0HVVDJHIXQFWLRQUHWXUQVFRQWUROWRWKHFRGHWKDWH[HFXWHGLW$V
)LJXUHVKRZV6S\VKRZVWKDWWKH6HQG0HVVDJHIXQFWLRQKDVLQGHHG
UHWXUQHG
)LJXUH7KHVWDWHRIWKH:0B6(77(;7PHVVDJHEHIRUHWKH :+B&$//:1'352&KRRNILQLVKHVSURFHVVLQJLW
)LJXUH7KHRXWSXWRIWKHDSSOLFDWLRQDIWHUWKHZLQGRZSURFHGXUHKDVSURFHVVHG WKH:0B6(77(;7PHVVDJH
)LJXUH7KHVWDWHRIWKH:0B6(77(;7PHVVDJHEHIRUHWKH :+B&$//:1'352&5(7KRRNILQLVKHVSURFHVVLQJLW
&DYHDWV $VZLWKWKH:+B&$//:1'352&KRRNWKHPDLQWKLQJWRUHPHPEHULVWKDWWKLVKRRN
FDSWXUHVRQO\PHVVDJHVWKDWDUHVHQWXVLQJWKH6HQG0HVVDJHIXQFWLRQ7KLVIXQFWLRQZLOOQRW
FDSWXUHPHVVDJHVWKDWDUHSRVWHGWRWKHPHVVDJHTXHXHXVLQJWKH3RVW0HVVDJHIXQFWLRQ,Q
WKHFDVHRISRVWHGPHVVDJHV\RXVKRXOGXVHWKH:+B*(70(66$*(KRRNWKLVKRRNLV
GLVFXVVHGLQ&KDSWHU
7KHRWKHUWKLQJWRUHPHPEHULVWKDWWKLVKRRNFDSWXUHVPHVVDJHVDIWHUWKHZLQGRZSURFHGXUH
KDVSURFHVVHGWKHPHVVDJH7KH:+B&$//:1'352&KRRNFDSWXUHVWKHVHQWPHVVDJH
EHIRUHWKHZLQGRZSURFHGXUHKDVSURFHVVHGLW
7DNHFDUHZKHQXVLQJDQ\KRRNEHFDXVHSHUIRUPDQFHFDQEHVHULRXVO\GHJUDGHG8VLQJD
WKUHDGVSHFLILFKRRNFDQGHJUDGHSHUIRUPDQFHIRUDVLQJOHWKUHDGEHFDXVHLWRSHUDWHVIURP ZLWKLQWKDWWKUHDGRQO\$V\VWHPZLGHKRRNUHVLGHVLQD'//WKDWLVLQMHFWHGLQWRDOOUXQQLQJ
SURFHVVHV7KHUHIRUHLIWKHKRRN VILOWHUIXQFWLRQFRGHSXWVXQGXHVWUDLQRQWKHV\VWHPHYHU\
WKUHDGLQWKHV\VWHPFDQVORZWRDFUDZO7KLVFDXVHVWKHHQWLUHV\VWHPWRDFWVOXJJLVKO\
:KHQZULWLQJILOWHUIXQFWLRQVIRUKRRNVRIHLWKHUVFRSH\RXVKRXOGH[LWWKHFRGHDVHDUO\DV SRVVLEOH%\WKLV,PHDQWKDWLIWKHKRRNLQWHUFHSWVPHVVDJHVWKDWDUHRIQRLQWHUHVW\RX
VKRXOGH[LWWKHILOWHUIXQFWLRQLPPHGLDWHO\
&KDSWHU:+B*(70(66$*( $WILUVWJODQFHWKH:+B*(70(66$*(KRRNVHHPVWREHVLPLODUWRWKH
:+B&$//:1'352&DQG:+B&$//:1'352&5(7KRRNV$VZHVKDOOVHHWKRXJKWKLV
KRRNLVYHU\GLIIHUHQWIURPWKHRWKHUWZRKRRNV7KLVFKDSWHUZLOOIRFXVRQWKH
:+B*(70(66$*(KRRNZKLOHDOVRFRPSDULQJDQGFRQWUDVWLQJLWZLWKWKH
:+B&$//:1'352&DQG:+B&$//:1'352&5(7KRRNV
+RZ:+B*(70(66$*(:RUNV
8VLQJWKLVKRRN\RXDOVRFDQPRGLI\DPHVVDJHEHIRUHWKHZLQGRZSURFHGXUHSURFHVVHVLW
7KHVHDUHWKHWZRPDLQGLIIHUHQFHVEHWZHHQWKLVKRRNDQGWKH:+B&$//:1'352&DQG
:+B&$//:1'352&5(7KRRNV7KH:+B&$//:1'352&DQG
:+B&$//:1'352&5(7KRRNVRQO\LQWHUFHSWVHQWPHVVDJHVDQGFDQQRWPRGLI\WKH
PHVVDJHVWKH\LQWHUFHSW
'// DQGXVHLWDVDV\VWHPZLGHKRRN$WKUHDGVSHFLILFKRRNLQWHUFHSWVDOOPHVVDJHV
ZLWKLQWKHWKUHDGLQZKLFKLWLVLQVWDOOHG:KHQ\RXLQVWDOODKRRNDVDV\VWHPZLGHKRRN\RX
PXVWSODFHLWLQD'//7KLV'//LVLQMHFWHGLQWRHYHU\SURFHVVVRWKDWWKHKRRNFDQRSHUDWH RQDOOPHVVDJHVLQWKHV\VWHP&KDSWHUSURYLGHVDWKRURXJKGLVFXVVLRQRIWKLVFRQFHSW %HIRUHH[SODLQLQJKRZWKLVKRRNRSHUDWHV,QHHGWRGLVFXVVERWKWKH*HW0HVVDJHDQGWKH
3HHN0HVVDJHIXQFWLRQV*HW0HVVDJHUHWULHYHVDVLQJOHPHVVDJHIURPWKHPHVVDJHTXHXHRI
WKHWKUHDGLQZKLFKWKLVIXQFWLRQZDVFDOOHG7KLVIXQFWLRQLVXVHGPRVWO\LQDPHVVDJHORRS IRUDQDSSOLFDWLRQ*HW0HVVDJHLVGHILQHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ*HW0HVVDJH/LEXVHU$OLDV*HW0HVVDJH$B
OS0VJ$V06*%\9DOKZQG$V/RQJ%\9DOZ0VJ)LOWHU0LQ$V/RQJB
%\9DOZ0VJ)LOWHU0D[$V/RQJ $V/RQJ
*HW0HVVDJHKDVWKHIROORZLQJSDUDPHWHUV OS0VJ KZQG
$/RQJSRLQWHUWRDQ06*VWUXFWXUHWKDWUHFHLYHVWKHPHVVDJH 7KHKDQGOHRIWKHZLQGRZZKRVHPHVVDJHVDUHWREHUHDGIURPWKHTXHXH,IWKLVLV
]HURDOOPHVVDJHVZLOOEHUHDG
Z0VJ)LOWHU0LQ
7KHPLQLPXPPHVVDJHYDOXHWKDWLVUHDGIURPWKHPHVVDJHTXHXH
Z0VJ)LOWHU0D[
7KHPD[LPXPPHVVDJHYDOXHWKDWLVUHWULHYHGIURPWKHPHVVDJHTXHXH,IWKLVYDOXH
LV]HURDOOPHVVDJHVVWDUWLQJZLWKWKHZ0VJ)LOWHU0LQYDOXHDUHUHDGIURPWKH
PHVVDJHTXHXH
,IDQHUURURFFXUVWKLVIXQFWLRQZLOOUHWXUQ,IWKLVIXQFWLRQSURFHVVHVD:0B48,7PHVVDJH
LWZLOOUHWXUQD]HURRWKHUZLVHLWUHWXUQVDQRQ]HURYDOXH,WDOVRUHWXUQVD]HURZKHQWKH
:0B48,7PHVVDJHLVSURFHVVHGWRDOORZWKHPHVVDJHORRSWRH[LWDQGWKHDSSOLFDWLRQWR
VKXWGRZQ
3HHN0HVVDJHLVVLPLODUWR*HW0HVVDJHLQWKDWLWJHWVDPHVVDJHIURPWKHPHVVDJHTXHXHRI
WKHWKUHDGLQZKLFKWKLVIXQFWLRQLVFDOOHG7KHPDLQGLIIHUHQFHLVWKDW3HHN0HVVDJHGRHVQRW
DXWRPDWLFDOO\UHPRYHWKHPHVVDJHIURPWKHPHVVDJHTXHXHDV*HW0HVVDJHGRHV
3HHN0HVVDJHLVGHILQHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ3HHN0HVVDJH/LEXVHU$OLDV3HHN0HVVDJH$B
,WVSDUDPHWHUVDUH OS0VJ KZQG
OS0VJ$V06*%\9DOKZQG$V/RQJ%\9DOZ0VJ)LOWHU0LQ$V/RQJB
%\9DOZ0VJ)LOWHU0D[$V/RQJ%\9DOZ5HPRYH0VJ$V/RQJ $V/RQJ
$/RQJSRLQWHUWRDQ06*VWUXFWXUH 7KHKDQGOHRIWKHZLQGRZZKRVHPHVVDJHVDUHWREHUHDGIURPWKHTXHXH,IWKLVLV
]HURDOOPHVVDJHVZLOOEHUHDG
Z0VJ)LOWHU0LQ
7KHPLQLPXPPHVVDJHYDOXHWKDWLVUHDGIURPWKHPHVVDJHTXHXH
Z0VJ)LOWHU0D[
7KHPD[LPXPPHVVDJHYDOXHWKDWLVUHWULHYHGIURPWKHPHVVDJHTXHXH,IWKLVYDOXH
LV]HURDOOPHVVDJHVVWDUWLQJZLWKWKHZ0VJ)LOWHU0LQYDOXHDUHUHDGIURPWKH
PHVVDJHTXHXH
Z5HPRYH0VJ
,IWKLVLVVHWWR30B5(029( WKHPHVVDJHLVUHDGDQGWKHQUHPRYHGIURPWKH
TXHXH,IWKLVLVVHWWR30B125(029( WKHPHVVDJHLVUHDGEXWOHIWRQWKH
TXHXH
,IQRPHVVDJHVDUHRQWKHTXHXHWKHUHWXUQYDOXHIRUWKLVIXQFWLRQLV]HUR$QRQ]HURUHWXUQ
YDOXHPHDQVWKDWDPHVVDJHZDVUHDGIURPWKHTXHXH
IXQFWLRQLQDPHVVDJHORRSLQSODFHRIWKH*HW0HVVDJHIXQFWLRQ
EDFNJURXQGSURFHVVLQJWREHSHUIRUPHGZKHQWKHDSSOLFDWLRQKDVQRPRUHPHVVDJHVWR
SURFHVVLQLWVPHVVDJHTXHXH)RUDPRUHGHWDLOHGGLVFXVVLRQRIWKLVWHFKQLTXHVHH
&KDSWHU
7KH:+B*(70(66$*(KRRNLQWHUFHSWVPHVVDJHVDVHLWKHUWKH*HW0HVVDJHRUWKH
3HHN0HVVDJHIXQFWLRQVDUHSXOOLQJWKHPRIIRIWKHPHVVDJHTXHXH
:KHQXVLQJWKLVKRRNEHFRQFHUQHGZLWKSHUIRUPDQFH$V\RXNQRZWKHUDZLQSXWWKUHDG
5,7 SRVWVPRXVHDQGNH\ERDUGLQSXWWRHDFKWKUHDG$WOHDVWRQH*HW0HVVDJHDQGRU
3HHN0HVVDJHIXQFWLRQLVFDOOHGIRUHDFKPHVVDJH7KDWPHDQVWKHVHIXQFWLRQVPDNHWKH
VDPHQXPEHURIFDOOVWRWKH:+B*(70(66$*(KRRN VILOWHUIXQFWLRQ%HFDXVHWKHSRWHQWLDO
H[LVWVIRUPHVVDJHVHVSHFLDOO\:0B0286(029(PHVVDJHVWREHSRVWHGDWDIXULRXVUDWH
WRWKHWKUHDGRUWKUHDGVWRZKLFKWKLVKRRNLVDWWDFKHGZHPXVWWDNHFDUHWRQRWH[HFXWH
XQQHHGHGFRGHIURPZLWKLQWKHILOWHUIXQFWLRQ8VLQJ:0B*(70(66$*(DVDV\VWHPZLGH
KRRNRQO\FRPSRXQGVWKLVSUREOHP:LWKDV\VWHPZLGHKRRNWKHILOWHUIXQFWLRQLVFDOOHG
HYHU\WLPHD*HW0HVVDJHRU3HHN0HVVDJHIXQFWLRQLVFDOOHGWKURXJKRXWHYHU\WKUHDGLQWKH
V\VWHP7KLVFDQYHU\TXLFNO\FDXVHSHUIRUPDQFHWRGHJUDGH
1RWHDOVRWKDWWKH:+B*(70(66$*(KRRNRQO\LQWHUFHSWVPHVVDJHVEHIRUHWKHZLQGRZ
SURFHGXUHRUDQ\VXEFODVVSURFHGXUHUHFHLYHVWKHPHVVDJH7KHUHLVQRW\SHRI
:+B*(70(66$*(KRRNWKDWLQWHUFHSWVPHVVDJHVDIWHUWKHZLQGRZSURFHGXUHUHWXUQV
VLPLODUWRKRZWKH:+B&$//:1'352&5(7KRRNRSHUDWHV
7REHWWHUXQGHUVWDQGWKLVKRRNDVZHOODVWKHH[DPSOHSUHVHQWHGLQWKLVFKDSWHULWLVXVHIXOWR
XQGHUVWDQGZKDWDSRVWHGPHVVDJHLVDQGKRZLWGLIIHUVIURPDVHQWPHVVDJH$SRVWHG
PHVVDJHLVDPHVVDJHWKDWLVSODFHGDWWKHHQGRIDWKUHDG VPHVVDJHTXHXH7KHPHVVDJHV
LQWKHTXHXHDUHSURFHVVHGLQWKHRUGHULQZKLFKWKH\DUHUHFHLYHG:KHQDQDSSOLFDWLRQ
SRVWVDPHVVDJHWKHDSSOLFDWLRQFRQWLQXHVSURFHVVLQJDQGGRHVQRWZDLWWRVHHLIWKHSRVWHG
PHVVDJHLVSURFHVVHGFRUUHFWO\RUDWDOO,QFRQWUDVWDVHQWPHVVDJHLVVHQWGLUHFWO\WRRQHRU
PRUHZLQGRZVQRWWRDWKUHDG VPHVVDJHTXHXH%\SDVVLQJWKHPHVVDJHTXHXHDOORZVWKH
VHQWPHVVDJHWREHSURFHVVHGLPPHGLDWHO\6HQWPHVVDJHVDUHXVXDOO\SURFHVVHG
V\QFKURQRXVO\WKDWLVWKHDSSOLFDWLRQWKDWVHQGVWKHPHVVDJHPXVWZDLWXQWLOWKHWDUJHW
ZLQGRZILQLVKHVSURFHVVLQJLW2QHIXQFWLRQ6HQG0HVVDJH&DOOEDFNDOORZVDVHQWPHVVDJH
WREHSURFHVVHGDV\QFKURQRXVO\6HQGLQJDPHVVDJHDOORZVWKHIXQFWLRQWKDWVHQWWKH
PHVVDJHWRUHFHLYHDYDOXHLQGLFDWLQJLIWKHVHQWPHVVDJHZDVSURFHVVHGFRUUHFWO\&KDSWHU
GLVFXVVHVVHQGLQJPHVVDJHVLQJUHDWHUGHWDLO
7KHILUVWDQGPRVWFRPPRQO\XVHGPHWKRGRISRVWLQJPHVVDJHVLVWKH3RVW0HVVDJHIXQFWLRQ
7KLVIXQFWLRQVLPSO\SRVWVDPHVVDJHWRWKHPHVVDJHTXHXHRIRQHRUPRUHWKUHDGV$IWHU
SRVWLQJWKHPHVVDJHWKH3RVW0HVVDJHIXQFWLRQUHWXUQV,WGRHVQRWZDLWIRUDUHVSRQVHWRWKH
SRVWHGPHVVDJHDVGRHV6HQG0HVVDJH7KLVIXQFWLRQLVGHILQHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ3RVW0HVVDJH/LEXVHU$OLDV3RVW0HVVDJH$B
%\9DOKZQG$V/RQJ%\9DOZ0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
3RVW0HVVDJHKDVWKHIROORZLQJSDUDPHWHUV KZQG
7KHZLQGRZKDQGOHWKDWWKHPHVVDJHLVGLUHFWHGWR,IWKLVSDUDPHWHULVVHWWR
+:1'B%52$'&$67WKHPHVVDJHLVSRVWHGWRDOOWRSOHYHOZLQGRZVLQWKHV\VWHP
,IWKLVSDUDPHWHULVVHWWR18//WKHPHVVDJHLVSRVWHGWRWKHPHVVDJHTXHXHRIWKH
X0VJ O3DUDP
WKUHDGLQZKLFKWKLVIXQFWLRQZDVFDOOHG 7KHPHVVDJHLGHQWLILHU 7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
Z3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH
7KHUHWXUQYDOXHLVQRQ]HURLIWKHIXQFWLRQVXFFHHGHGLQSRVWLQJWKHPHVVDJHRWKHUZLVHLW
UHWXUQVD]HURYDOXH
7KHQH[WPHWKRGRISRVWLQJPHVVDJHVLV3RVW7KUHDG0HVVDJH,QVWHDGRIXVLQJDZLQGRZ
KDQGOHWRGHWHUPLQHZKLFKPHVVDJHTXHXHLVWRUHFHLYHWKHPHVVDJHLWXVHVWKHDFWXDO
WKUHDG,'7KLVIXQFWLRQDOVRGRHVQRWZDLWIRUDUHVSRQVHWRWKHSRVWHGPHVVDJH7KLV
IXQFWLRQLVGHILQHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ3RVW7KUHDG0HVVDJH/LEXVHUB
$OLDV3RVW7KUHDG0HVVDJH$B
,WVSDUDPHWHUVDUH
%\9DOLG7KUHDG$V/RQJ%\9DOPVJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
LG7KUHDG
7KHWKUHDGLGHQWLILHUWKDWWKHPHVVDJHLVSRVWHGWR
XVLQJWKH9LVXDO%DVLF9% $SS7KUHDG,'SURSHUW\RUE\XVLQJHLWKHURIWKH
*HW&XUUHQW7KUHDG,'RU*HW:LQGRZ7KUHDG3URFHVV,GDSSOLFDWLRQSURJUDPPLQJ
X0VJ O3DUDP
LQWHUIDFH$3, IXQFWLRQV 7KHPHVVDJHLGHQWLILHU
7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
Z3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH
,IWKHIXQFWLRQVXFFHHGVLQSRVWLQJWKHPHVVDJHLWUHWXUQVDQRQ]HURYDOXHRWKHUZLVHLW
UHWXUQVD]HURYDOXH
7KHODVWPHWKRGLV3RVW4XLW0HVVDJH7KLVIXQFWLRQVLPSO\SRVWVD:0B48,7PHVVDJHWRWKH
PHVVDJHTXHXHRIWKHWKUHDGLQZKLFKLWZDVFDOOHG7KH:0B48,7PHVVDJHWKHQFDXVHVWKH
DSSOLFDWLRQWRH[LWLWVPHVVDJHORRSDQGVKXWGRZQ,GLGQRWXVHWKLVIXQFWLRQLQWKHH[DPSOH
DSSOLFDWLRQIRURQHUHDVRQ:KHQWKHPHVVDJHORRSUHFHLYHVWKH:0B48,7PHVVDJHLWH[LWV
ZLWKRXWILUVWUHPRYLQJDOOWKHLQVWDOOHGKRRNVFDXVLQJWKHDSSOLFDWLRQWRFUDVK7KHV\QWD[RI
3RVW4XLW0HVVDJHLV
3XEOLF'HFODUH6XE3RVW4XLW0HVVDJH/LEXVHU$OLDV3RVW4XLW0HVVDJHB
%\9DOQ([LW&RGH$V/RQJ
,WVVLQJOHSDUDPHWHULV Q([LW&RGH
$FRGHWKDWLVVHQWWRWKHZ3DUDPSDUDPHWHURIWKH:0B48,7PHVVDJH
1RYDOXHVDUHUHWXUQHGIURPWKLVIXQFWLRQ
,WPLJKWEHKHOSIXOWRQRWHWKDW:LQGRZVFDQFRQWDLQ
XSWRPHVVDJHVLQDQ\RQHPHVVDJHTXHXHWKLV VKRXOGEHVXIILFLHQWIRUDQ\DSSOLFDWLRQ7KHORZHVWYDOXH WKDW\RXFDQVHWIRUWKLVVL]HLVPHVVDJHV
+.(
)LOWHU)XQFWLRQ'HILQLWLRQ 7KHILOWHUIXQFWLRQSURWRW\SHIRUWKLVKRRNLVZULWWHQDVIROORZV
3XEOLF)XQFWLRQ*HW0VJ3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
O3DUDP$V06* $V/RQJ
,WVSDUDPHWHUVDUH X&RGH
7KHFRGHWKDWWKHV\VWHPVHQGVWRWKLVILOWHUIXQFWLRQ+&B$&7,21LVWKHRQO\KRRN FRGHWKHV\VWHPVHQGVWRWKLVILOWHUIXQFWLRQ7KLVFRGHLVGHILQHGDVIROORZV
3ULYDWH&RQVW+&B$&7,21
:KHQWKHV\VWHPVHQGVWKLVFRGHWRWKHILOWHUIXQFWLRQWKHVHQWPHVVDJHFDQEH
SURFHVVHG,I+&B$&7,21LVQRWSDVVHGLQ\RXVKRXOGVNLSPHVVDJHSURFHVVLQJDQG
FDOO&DOO1H[W+RRN([LPPHGLDWHO\
Z3DUDP
6SHFLILHVZKHWKHUWKHPHVVDJHZDVUHPRYHGIURPWKHPHVVDJHTXHXH,IWKLVYDOXH
LVVHWWR30B125(029(WKHPHVVDJHZDVQRWUHPRYHGIURPWKHPHVVDJHTXHXH
,IWKLVYDOXHLVVHWWR30B5(029(WKHPHVVDJHZDVUHPRYHGIURPWKHPHVVDJH
O3DUDP
TXHXH
+ROGVDSRLQWHUWRDQ06*VWUXFWXUH
7KHUHWXUQYDOXHIRUWKLVILOWHUIXQFWLRQVKRXOGEHWKHUHWXUQYDOXHRIWKH&DOO1H[W+RRN([
IXQFWLRQ,IWKLVIXQFWLRQLVQRWFDOOHGWKHILOWHUIXQFWLRQVKRXOGUHWXUQD]HUR,GRQRW
UHFRPPHQGVNLSSLQJWKHFDOOWR&DOO1H[W+RRN([WKRXJK)DLOLQJWRFDOOWKLVIXQFWLRQZLOOIRUFH
RWKHUILOWHUIXQFWLRQVLQWKHFKDLQWRQRWEHFDOOHG
:KHQWKHILOWHUIXQFWLRQUHWXUQVWKHZ3DUDPSDUDPHWHURIWKLVILOWHUIXQFWLRQFRQWDLQVDYDOXH
WKDWVSHFLILHVZKHWKHUWKHPHVVDJHZDVUHPRYHGIURPWKHPHVVDJHTXHXH,IWKHYDOXHRI
WKLVSDUDPHWHULVVHWWR30B5(029(HLWKHU*HW0HVVDJHZDVXVHGRU3HHN0HVVDJHZDV
XVHGZLWKWKH30B5(029(IODJ,IWKHYDOXHRIWKLVSDUDPHWHULVVHWWR30B125(029(
3HHN0HVVDJHZDVXVHGZLWKWKH30B125(029(IODJ
7KHO3DUDPSDUDPHWHUKROGVDSRLQWHUWRDQ06*VWUXFWXUHZKLFKLVGHILQHGDVIROORZV
3XEOLF7\SH06*
KZQG$V/RQJ
PHVVDJH$V/RQJ Z3DUDP$V/RQJ O3DUDP$V/RQJ
WLPH$V/RQJ
SW$V32,17$3, (QG7\SH
7KHPHPEHUVRIWKLVVWUXFWXUHDUHGHILQHGDVIROORZV KZQG
+DQGOHWRWKHZLQGRZWKDWWKLVPHVVDJHLVGLUHFWHGWR
PHVVDJH
7KH,'RIWKLVPHVVDJH
Z3DUDP O3DUDP WLPH SW
9DOXHGHSHQGVRQWKHPHVVDJHVHQW
9DOXHGHSHQGVRQWKHPHVVDJHVHQW 7KHWLPHWKDWWKLVPHVVDJHZDVSRVWHG 7KHPRXVH[DQG\FRRUGLQDWHVDWWKHWLPHWKLVPHVVDJHZDVSRVWHG
/RFDWLRQRI7KLV+RRNLQWKH6\VWHP 7KLVKRRNLVORFDWHGLQVLGHERWKWKH*HW0HVVDJHDQG3HHN0HVVDJHIXQFWLRQV7KHVH
IXQFWLRQVPDNHXSSDUWRIWKHPHVVDJHORRSIRUDWKUHDGDV)LJXUHVKRZV:KHQ
HLWKHUIXQFWLRQUHWULHYHVDPHVVDJHIURPWKHPHVVDJHTXHXHWKH:+B*(70(66$*(ILOWHU
IXQFWLRQLVFDOOHG:KHQWKHILOWHUIXQFWLRQUHWXUQVWKH*HW0HVVDJHRU3HHN0HVVDJHIXQFWLRQ
ILQLVKHVLWVSURFHVVLQJDQGWKHQUHWXUQV,IWKHVHIXQFWLRQVDUHUXQQLQJZLWKLQDPHVVDJHORRS
WKH'LVSDWFK0HVVDJHIXQFWLRQLQVLGHRIWKHPHVVDJHORRSSDVVHVWKHPHVVDJHRQWRWKH
ZLQGRZSURFHGXUH7KLVLVZK\ZHFDQQRWGLVFDUGDPHVVDJHXVLQJWKLVKRRN(YHQWKRXJK ZHWU\WRGLVFDUGWKHPHVVDJHIURPZLWKLQWKHILOWHUIXQFWLRQLWLVVWLOOSDVVHGRQWR
'LVSDWFK0HVVDJHWREHVHQWWRWKHFRUUHFWZLQGRZSURFHGXUHIRUSURFHVVLQJ7KHILOWHU
IXQFWLRQKDVQRFRQWURORYHUWKLV
)LJXUH7KHORFDWLRQRIWKH:+B*(70(66$*(IXQFWLRQLQWKHPHVVDJLQJV\VWHP
PRGLI\WKHPHVVDJHFRQWDLQHGLQWKHO3DUDPSDUDPHWHUWRD:0B18//PHVVDJH7KH
:0B18//PHVVDJHLVWKHQSDVVHGRQWRWKHZLQGRZSURFHGXUHDQGQRWWKHRULJLQDO
PHVVDJH7RGRWKLVDGGWKLVFRGHEHIRUH&DOO1H[W+RRN([LVFDOOHG
O3DUDP0HVVDJH :0B18//
O3DUDPO3DUDP
O3DUDPZ3DUDP
$7KUHDG6SHFLILF([DPSOH 7KHH[DPSOHSUHVHQWHGKHUHZKLFKLVVKRZQLQ)LJXUHZLOOEXLOGRQZKDW\RXOHDUQHG
LQ&KDSWHUDQG&KDSWHU%\IROORZLQJWKLVH[DPSOH\RXZLOOVHHWKHGLIIHUHQFHV
EHWZHHQWKH:+B&$//:1'352&:+B&$//:1'352&5(7DQG:+B*(70(66$*( KRRNV7KLVH[DPSOHLQVWDOOVWKHWKUHHKRRNV1RZZKHQ\RXFOLFNWKH3RVW0HVVDJHDQG
3RVW7KUHDG0VJEXWWRQV\RXZLOOVHHWKH:+B*(70(66$*(KRRNGLVSOD\PHVVDJHVLQWKH
WH[WER[
)LJXUH6FUHHQVKRWRIH[DPSOHDSSOLFDWLRQ
7DEOHOLVWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV
WZRFKDSWHUV&OLFNWKHKRRNEXWWRQWRLQVWDOODOOWKUHHKRRNVDQGWKHQFOLFNHDFKRIWKHORZHU
EXWWRQVVKRZQLQ)LJXUHWRVHQGDQGSRVWWKH:0B18//PHVVDJH7KHWH[WER[ZLOO
LQGLFDWHZKLFKKRRNLQWHUFHSWHGWKH:0B18//PHVVDJHDVZHOODVWKHDYDLODEOHSDUDPHWHUV
IRUWKDWKRRN7KHUHLVQRGLIIHUHQFHIURPWKHSUHYLRXVDSSOLFDWLRQVLQRXWSXWGLVSOD\HGZKHQ
\RXFOLFNWKH6HQG0HVVDJHW\SHEXWWRQV:KHQ\RXFOLFNWKH3RVW0HVVDJHDQG
3RVW7KUHDG0VJEXWWRQVWKH:+B*(70(66$*(KRRNQRZGLVSOD\VDOLQHRIWH[WLQGLFDWLQJ
WKDWLWKDVLQWHUFHSWHGWKHSRVWHGPHVVDJH
7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW7\SH
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
1DPH
)RUP
)RUP
&DSWLRQ
:+B*(70(66$*(+RRN7HVW
)RUP
7RS
)RUP
/HIW
)RUP
+HLJKW
)RUP
:LGWK
7H[W%R[
1DPH
7H[W
7H[W%R[
0XOWLOLQH
7UXH
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
7H[W%R[
6FUROO%DUV
%RWK
)UDPH
&DSWLRQ
*(70(66$*(
)UDPH
1DPH
)UDPH
)UDPH
7RS
)UDPH
/HIW
)UDPH
+HLJKW
)UDPH
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG+RRN
&RPPDQG%XWWRQ
&DSWLRQ
KRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG8Q+RRN
&RPPDQG%XWWRQ
&DSWLRQ
XQKRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG6HQG0VJ
&RPPDQG%XWWRQ
&DSWLRQ
6HQG0VJ
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG6HQG0VJ1RWLI\
&RPPDQG%XWWRQ
&DSWLRQ
6HQG0VJ1RWLI\
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG6HQG0VJ72
&RPPDQG%XWWRQ
&DSWLRQ
6HQG0VJ72
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG6HQG0VJ&%
&RPPDQG%XWWRQ
&DSWLRQ
6HQG0VJ&%
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG6HQG'OJ0VJ
&RPPDQG%XWWRQ
&DSWLRQ
6HQG'OJ0VJ
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG%URDGFDVW0VJ
&RPPDQG%XWWRQ
&DSWLRQ
%URDGFDVW0VJ
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG3RVW0HVVDJH
&RPPDQG%XWWRQ
&DSWLRQ
3RVW0HVVDJH
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG3RVW7KUHDG0VJ
&RPPDQG%XWWRQ
&DSWLRQ
3RVW7KUHDG0VJ
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
7RLPSOHPHQWWKH:+B*(70(66$*(KRRNOHW VEHJLQZLWKWKHFKDQJHVQHHGHGWRWKH
0RGXOHEDVFRGHPRGXOH7KURXJKRXWWKLVGLVFXVVLRQWKHQHZOLQHVRIFRGHWKDW\RXPXVW
DGGWRWKHSURMHFWWRLPSOHPHQWWKH:+B*(70(66$*(KRRNZLOODSSHDULQEROGIDFH $QHZ
SULYDWHPHPEHUYDULDEOHK*HW0VJ+RRNLVDGGHGWRVWRUHWKH:+B*(70(66$*(KRRN
KDQGOH
3ULYDWHK3URF5HW+RRN$V/RQJ 3ULYDWHK3URF+RRN$V/RQJ
3ULYDWHK*HW0VJ+RRN$V/RQJ
3XEOLF,V+RRNHG$V%RROHDQ
7KH6HW+RRNVIXQFWLRQZKLFKLVVKRZQLQ([DPSOHFRQWDLQVDQHZOLQHWRLQVWDOOWKH :+B*(70(66$*(KRRN
([DPSOH7KH6HW+RRNV)XQFWLRQWR,QVWDOOWKH:0B*(70(66$*(+RRN 3XEOLF6XE6HW+RRNV
,I,V+RRNHG7KHQ
0VJ%R['RQ WKRRN&$//:1'352&WZLFHRU\RXZLOOEHXQDEOHWRXQKRRNLW
(OVH
K*HW0VJ+RRN 6HW:LQGRZV+RRN([:+B*(70(66$*($GGUHVV2I*HW0VJ3URFB
$SS7KUHDG,'
K3URF+RRN 6HW:LQGRZV+RRN([:+B&$//:1'352&$GGUHVV2I:QG3URFB
$SS7KUHDG,'
K3URF5HW+RRN 6HW:LQGRZV+RRN([:+B&$//:1'352&5(7$GGUHVV2I
:QG3URF5HWB
$SS7KUHDG,'
,V+RRNHG 7UXH
(QG,I
(QG6XE
7KH5HPRYH+RRNVPHWKRGVKRZQLQ([DPSOHFRQWDLQVDQHZOLQHWRUHPRYHWKH :+B*(70(66$*(KRRN
([DPSOH7KH5HPRYH+RRNV)XQFWLRQWR5HPRYHWKH:0B*(70(66$*(+RRN 3XEOLF6XE5HPRYH+RRNV
'LPWHPS$V/RQJ
WHPS 8QKRRN:LQGRZV+RRN([K*HW0VJ+RRN
WHPS 8QKRRN:LQGRZV+RRN([K3URF+RRN
WHPS 8QKRRN:LQGRZV+RRN([K3URF5HW+RRN
,V+RRNHG )DOVH (QG6XE
$QHZIXQFWLRQVKRZQLQ([DPSOH*HW0VJ3URFLVDGGHGWRDFWDVWKHILOWHUIXQFWLRQ
IRUWKH:+B*(70(66$*(KRRN7KLVILOWHUIXQFWLRQRXWSXWVDOLQHRIWH[WWRWKH7H[WWH[W
ER[ZKHQD:0B18//PHVVDJHLVSRVWHGWRWKHPHVVDJHTXHXH ([DPSOH7KH*HW0VJ3URF)LOWHU)XQFWLRQ
3XEOLF)XQFWLRQ*HW0VJ3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
O3DUDP$V06* $V/RQJ
,IO3DUDPPHVVDJH :0B18//7KHQ
6HOHFW&DVHX&RGH
&DVH+&B$&7,21
)RUP7H[W7H[W )RUP7H[W7H[W *(70(66$*(B
06* +H[O3DUDPPHVVDJH B
+:1' +H[O3DUDPKZQG B
:3$5$0 +H[O3DUDPZ3DUDP B
/3$5$0 +H[O3DUDPO3DUDP B
06*5(029(' +H[Z3DUDP YE1HZ/LQH
&DVH(OVH
(QG6HOHFW
(QG,I
*HW0VJ3URF &DOO1H[W+RRN([K*HW0VJ+RRNX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
7KDWLVLWIRUFKDQJHVWRWKLVDSSOLFDWLRQ)URPWKHVHFKDQJHV\RXFDQVHHKRZDOOWKUHHKRRNV
DUHXVHGDQGKRZWKH\RSHUDWH
,WLVLQWHUHVWLQJWRQRWHWKDWEHFDXVH3HHN0HVVDJHFDQRQO\UHDGDPHVVDJHIURPWKHTXHXH
ZLWKRXWUHPRYLQJLW\RXFDQFDOOWKH:+B*(70(66$*(KRRNPRUHWKDQRQFHIRUHDFK
PHVVDJHRQWKHTXHXH
WKLVFKDSWHUIURPZLWKLQWKH9%,'(DQGFOLFNLQJWKH3RVW0HVVDJHEXWWRQ)LUVW\RXFDQVHH
SRVWHGPHVVDJHVEHLQJUHDGXVLQJWKH3HHN0HVVDJHIXQFWLRQZLWKWKH30B125(029( IODJ1H[WWKHPHVVDJHLVUHPRYHGIURPWKHPHVVDJHTXHXHXVLQJWKH3HHN0HVVDJH
IXQFWLRQZLWKWKH30B5(029(IODJ6HH)LJXUHDQG)LJXUHIRUDQH[DPSOHRI WKLV
)LJXUH([DPSOHRISRVWLQJDPHVVDJHIURPZLWKLQWKH9%,'(
)LJXUH([DPSOHRISRVWLQJDPHVVDJHIURPZLWKLQDFRPSLOHG(;(
2WKHU8VHVRI7KLV+RRN 7KH:+B*(70(66$*(KRRNLVDYHU\XVHIXOKRRNIRUPDQ\GLIIHUHQWDSSOLFDWLRQV2QH
DSSOLFDWLRQLVZDWFKLQJIRUWKH:0B&$1&(/-2851$/PHVVDJHZKLFKLVGHILQHGDVIROORZV
3XEOLF&RQVW:0B&$1&(/-2851$/ +%
7RIXOO\XQGHUVWDQGZK\WKLVLVXVHIXO\RXQHHGWRUHDG&KDSWHUDQG&KDSWHU ZKLFKFRYHUWKH:+B-2851$/5(&25'DQG:+B-2851$/3/$<%$&.KRRNV
UHVSHFWLYHO\,QVKRUWWKH:0B&$1&(/-2851$/PHVVDJHLVSRVWHGWRWKHPHVVDJHTXHXH
RIWKHWKUHDGLQZKLFKRQHRIWKHVHKRRNVLVLQVWDOOHGZKHQWKHXVHUIRUFHIXOO\FDQFHOVMRXUQDO
UHFRUGLQJRUSOD\EDFN7KHKRRNVDUHDFWXDOO\UHPRYHGDIWHUWKLVPHVVDJHLVSURFHVVHG%\
WDNLQJDGYDQWDJHRIWKLVZHFDQSHUIRUPDQ\FOHDQXSUHTXLUHGEHIRUHWKHKRRNLVDFWXDOO\
UHPRYHG7RGRWKLV\RXFDQSODFHWKHIROORZLQJ,I7KHQVWDWHPHQWLQVLGHWKHILOWHUIXQFWLRQ
IRUWKH:0B*(70(66$*(KRRN
,IO3DUDPPHVVDJH :0B&$1&(/-2851$/7KHQ
(QG,I
3ODFHFOHDQXSFRGHKHUH
H[SHFWHGLQDPRGHOHVVGLDORJER[DQGPRUHVSHFLILFDOO\LQWKH)LQGDQG5HSODFHFRPPRQ
GLDORJER[HV)RUDPRGHOHVVGLDORJWRZRUNSURSHUO\:LQGRZVUHTXLUHVWKDW\RXXVHWKH
,V'LDORJ0HVVDJH$3,IXQFWLRQLQWKHPDLQPHVVDJHORRSRIWKHDSSOLFDWLRQ7KH
,V'LDORJ0HVVDJH$3,IXQFWLRQEDVLFDOO\GRHVWKHZRUNRIWKH7UDQVODWH0HVVDJHDQGWKH
'LVSDWFK0HVVDJH$3,IXQFWLRQVEXWIRUPRGHOHVVGLDORJER[HV7KHUHIRUHLI
,V'LDORJ0HVVDJHUHWXUQVD758(YDOXHLWKDVSURFHVVHGWKHPHVVDJHDQGWKH
7UDQVODWH0HVVDJHDQGWKH'LVSDWFK0HVVDJH$3,IXQFWLRQVVKRXOGQRWEHFDOOHG7KH
,V'LDORJ0HVVDJH$3,IXQFWLRQ VPDLQSXUSRVHLVWRSURYLGHGHIDXOWGLDORJNH\ERDUG
SURFHVVLQJIRUWKHPRGHOHVVGLDORJER[0RGDOGLDORJER[HVDXWRPDWLFDOO\VXSSRUWGHIDXOW
GLDORJNH\ERDUGSURFHVVLQJ
SUREOHPVLPSO\LQVWDOODWKUHDGVSHFLILF:0B*(70(66$*(KRRNXSRQUHFHLYLQJWKH
:0B,1,7',$/2*PHVVDJHLQWKHFRPPRQGLDORJER[VXEFODVVSURFHGXUH1H[WDGGWR\RXU
FRGHD:+B*(70(66$*(ILOWHUIXQFWLRQVLPLODUWRWKHIROORZLQJ
3XEOLF)XQFWLRQ*HW0VJ3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
O3DUDP$V06* $V/RQJ
,IZ3DUDP 30B5(029(7KHQ 6HOHFW&DVHX&RGH
&DVH+&B$&7,21
,IO3DUDPPHVVDJH! :0B.(<),567$QGO3DUDPPHVVDJH :0B.($677KHQ
,I,V'LDORJ0HVVDJHKZQG&RPP'LDORJO3DUDP 7KHQ
O3DUDPPHVVDJH :0B18// O3DUDPZ3DUDP O3DUDPO3DUDP (QG,I (QG,I
&DVH(OVH (QG6HOHFW (QG,I
*HW0VJ3URF &DOO1H[W+RRN([K*HW0VJ+RRNX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
7KLVZLOOLQHIIHFWDGGWKHPLVVLQJ,V'LDORJ0HVVDJHIXQFWLRQWR\RXUPHVVDJHORRSDQG
FDXVHWKH7DEDQG$UURZNH\VWREHFRUUHFWO\SURFHVVHG7KLVSUREOHPZDVGLVFXVVHGLQ
&KDSWHU
06'1 ,KDYHOLVWHGWKHPLQ7DEOHDORQJZLWKEULHIGHVFULSWLRQV
7DEOH06'1$UWLFOHVRQ8VLQJWKH:0B*(70(66$*(+RRN $UWLFOH,'
'HVFULSWLRQ
4+RZWRMXPSWRDVSHFLILFSURSHUW\SDJHVKHHW 4
+RZWRDOWHUNH\ERDUGPHVVDJHVWKH:+B.(<%2$5'KRRNFDQQRWDOWHU
PHVVDJHV
4+RZWRSURFHVV7DEDQG$UURZNH\VLQDPRGHOHVVGLDORJER[ 4+RZWRNQRZZKHQDVFUHHQVDYHUDFWLYDWHV 4+RZWRVXEFODVVDZLQGRZLQDGLIIHUHQWSURFHVV
&DYHDWV
ZLQGRZXVLQJ6HQG0HVVDJHW\SH$3,FDOOVZLOOQRWEHFDSWXUHG$OVRWKLVKRRNPLJKWPRGLI\
WKHPHVVDJH7DNHFDUHZKHQPRGLI\LQJDQ\PHVVDJHYHULI\WKDWLWZLOOQRWDGYHUVHO\DIIHFW
DQ\RWKHUIXQFWLRQDOLW\
7KLVKRRNIXQFWLRQVGLIIHUHQWO\ZKHQUXQQLQJLQWKH9%,'(WKDQZKHQUXQQLQJIURPLQVLGHDQ
(;(7KHGLIIHUHQFHLVWKDWZKLOHUXQQLQJLQWKH,'(DQDGGLWLRQDO3HHN0HVVDJHLVSHUIRUPHG
ZLWKD30B125(029(IODJ7KLVVLPSO\H[DPLQHVWKHPHVVDJHDQGLWVGHWDLOVEXWGRHVQRW
UHPRYHLWIURPWKHPHVVDJHTXHXH7KHPHVVDJHLVUHPRYHGIURPWKHPHVVDJHTXHXHLQD
VXEVHTXHQW3HHN0HVVDJHFDOO6HH)LJXUHDQG)LJXUHIRUH[DPSOHVRIWKLV $VDOZD\V\RXPXVWWDNHSHUIRUPDQFHLQWRFRQVLGHUDWLRQZKHQXVLQJWKLVKRRNHVSHFLDOO\ ZKHQWKHKRRNLVV\VWHPZLGH
&KDSWHU:+B.(<%2$5'DQG :+B.(<%2$5'B//
7KLVFKDSWHUGHDOVILUVWZLWKWKH:+B.(<%2$5'KRRNDQGWKHQZLWKWKH
:+B.(<%2$5'B//KRRN7KH//VWDQGVIRUORZOHYHO7KLVFKDSWHUGHVFULEHVWKHVHKRRNV
DQGGLVFXVVHVKRZNH\ERDUGPHVVDJHVDUHKDQGOHGLQWKH:LQGRZVPHVVDJLQJV\VWHP,ZLOO
SUHVHQWH[DPSOHVXVLQJHDFKKRRN
+RZ.H\ERDUG0HVVDJLQJ2SHUDWHV :KHQWKHXVHUSUHVVHVDQGUHOHDVHVDNH\RQWKHNH\ERDUGVHYHUDOKLGGHQWKLQJVKDSSHQ
ZLWKLQWKHPHVVDJLQJV\VWHP:KHQWKHXVHUSUHVVHVDNH\RQWKHNH\ERDUGWKHNH\ERDUG
VHQGVDVFDQFRGHWRWKHNH\ERDUGGHYLFHGULYHULQGLFDWLQJWKDWDVSHFLILFNH\ZDVSUHVVHG
7KLVGHYLFHGULYHUFRQYHUWVWKHVFDQFRGHWRDYLUWXDONH\FRGHWKDW:LQGRZVGHILQHV$
PHVVDJHVWUXFWXUHLVILOOHGZLWKHLWKHUD:0B.(<'2:1RU:0B6<6.(<'2:1PHVVDJH
DFFRUGLQJWRWKHW\SHRINH\WKHXVHUSUHVVHG
6\VWHPNH\GRZQDQGNH\XSPHVVDJHVDUHSURGXFHGLQRQHRIWKUHHZD\V •
%\SUHVVLQJWKH)NH\ZKLFKFDXVHVWKHPHQXEDUWRDFWLYDWH
•
%\KROGLQJGRZQWKH$/7NH\ZKLOHSUHVVLQJDQRWKHUNH\VXFKDV$/7)ZKLFK
•
:KHQQRZLQGRZLQWKHV\VWHPKDVWKHNH\ERDUGLQSXWIRFXVVXFKDVZKHQDOO
FORVHVDZLQGRZ
ZLQGRZVDUHPLQLPL]HG
6\VWHPNH\PHVVDJHVDUHXVHGPDLQO\E\WKHV\VWHPDQGSURYLGHDVWDQGDUGNH\ERDUG
LQWHUIDFHIRUPDQLSXODWLQJZLQGRZV)RUH[DPSOHSUHVVLQJ$/7)FORVHVDZLQGRZ\RX
FDQILQGWKLVNH\FRPELQDWLRQLQDZLQGRZ VV\VWHPPHQX2WKHUH[DPSOHVRIV\VWHPNH\
FRPELQDWLRQVDUH CTRL-ESC
2SHQVWKH:LQGRZV6WDUWPHQXRUWKH7DVN0DQDJHUXQGHU:LQGRZV17 ALT-ESC 6ZLWFKHVWRWKHQH[WUXQQLQJDSSOLFDWLRQLQWKH=RUGHU ALT-TAB 6ZLWFKHVWRWKHQH[WUXQQLQJDSSOLFDWLRQLQWKH=RUGHU ALT-DOWN ARROW 2SHQVDGURSGRZQOLVWER[ ALT-SPACE
'LVSOD\VWKHDFWLYHZLQGRZ VV\VWHPPHQX
ALT-F6
6ZLWFKHVEHWZHHQZLQGRZVZLWKLQWKHVDPHDSSOLFDWLRQ
$QRQV\VWHPNH\LVDNH\WKDWLVSUHVVHGZLWKRXWWKH$/7NH\EHLQJSUHVVHG([DPSOHVRI
QRQV\VWHPNH\VDUH(17(57$%(6&RUDQ\FKDUDFWHUNH\D]$= RQWKHNH\ERDUG
7KH06*PHVVDJHVWUXFWXUHDVLWSHUWDLQVWRNH\ERDUGPHVVDJHVLVGHILQHGDVIROORZV
3ULYDWH7\SH06* KZQG$V/RQJ
PHVVDJH$V/RQJ Z3DUDP$V/RQJ O3DUDP$V/RQJ WLPH$V/RQJ
SW$V32,17$3, (QG7\SH
(DFKPHPEHURIWKLVVWUXFWXUHLVGHILQHGDVIROORZV KZQG
+DQGOHWRWKHZLQGRZWKDWWKLVPHVVDJHLVGLUHFWHGWR
PHVVDJH
7KHPHVVDJH,'HLWKHU:0B.(<'2:1:0B.(<83:0B6<6.(<'2:1RU :0B6<6.(<83
Z3DUDP
7KHYLUWXDONH\FRGHRIWKHNH\SUHVVHG9LUWXDONH\FRGHVDUHXVXDOO\GHILQHGDV
O3DUDP
FRQVWDQWVLQFRGHDQGKDYHWKHSUHIL[9.B
)ODJVDQGRWKHULQIRUPDWLRQDERXWWKHNH\SUHVVHG7KH\LQFOXGH
NH\UHSHDWFRXQW
7KHQXPEHURIWLPHVWKHNH\ZDVUHSHDWHGDVDUHVXOWRIWKHXVHUKROGLQJWKHNH\
GRZQ
VFDQFRGH
7KLVYDOXHGHSHQGVRQWKHRULJLQDOHTXLSPHQWPDQXIDFWXUHU2(0
H[WHQGHGNH\IODJ
6SHFLILHVZKHWKHUWKHNH\SUHVVHGLVDIXQFWLRQNH\RUDNH\RQWKHNH\SDG
FRQWH[WFRGH
6SHFLILHVLIWKH$/7NH\ZDVSUHVVHG
SUHYLRXVNH\VWDWHIODJ
6SHFLILHVLIWKHDXWRPDWLFUHSHDWIHDWXUHRIDNH\ERDUGJHQHUDWHGWKLVPHVVDJH
WUDQVLWLRQVWDWHIODJ WLPH SW
6SHFLILHVLIWKHNH\LVEHLQJSUHVVHGRUUHOHDVHG
7KHWLPHWKDWWKLVPHVVDJHZDVSRVWHG
7KHPRXVH[DQG\FRRUGLQDWHVDWWKHWLPHWKLVPHVVDJHZDVSRVWHG
7KHV\VWHPVHQGVWKLVPHVVDJHWRWKHUDZLQSXWWKUHDG5,7 ZKLFKSDVVHVLWRQWRWKH
PHVVDJHTXHXHRIWKHWKUHDGWKDWKDVWKHNH\ERDUGLQSXWIRFXV
:KHQWKHXVHUUHOHDVHVWKHNH\WKHNH\ERDUGVHQGVDVHSDUDWHVFDQFRGHWRWKHGHYLFH
GULYHULQGLFDWLQJWKDWWKHNH\EHLQJSUHVVHGZDVUHOHDVHG7KHGHYLFHGULYHUWKHQFRQYHUWVWKLV
VFDQFRGHLQWRDYLUWXDONH\FRGH$PHVVDJHVWUXFWXUHLVILOOHGZLWKHLWKHUD:0B.(<83RU
:0B6<6.(<83PHVVDJHDFFRUGLQJWRWKHW\SHRINH\SUHVVHG7KLVPHVVDJHDOVRLV
SDVVHGRQWRWKH5,7DQGWKHQRQWRWKHPHVVDJHTXHXHRIWKHWKUHDGWKDWKDVWKHNH\ERDUG
LQSXWIRFXV
DSURSHUW\WKDWHDFKWKUHDGLQWKHV\VWHPFRQWDLQV7KLVSURSHUW\FRQWDLQVWKHZLQGRZKDQGOH
RIDZLQGRZZLWKLQWKHWKUHDGWKDWLVFXUUHQWO\VHWWRUHFHLYHDOOWKHNH\ERDUGLQSXW%HFDXVH
DOOWKUHDGVFRQWDLQWKLVSURSHUW\HDFKWKUHDGFDQKDYHDZLQGRZKDQGOHFRQWDLQHGLQWKLV
SURSHUW\%XWWKHRQO\ZLQGRZWKDWDFWXDOO\UHFHLYHVNH\ERDUGLQSXWLVWKHZLQGRZWKDWKDVWKH
NH\ERDUGLQSXWIRFXVDQGWKDWLVFRQWDLQHGLQWKHIRUHJURXQGWKUHDG(YHQWKRXJKRWKHU
ZLQGRZVPLJKWKDYHWKHNH\ERDUGLQSXWIRFXVIRUWKHLUWKUHDGWKH\FDQQRWUHFHLYHNH\ERDUG
LQSXW:KHQDQRWKHUWKUHDGEHFRPHVWKHIRUHJURXQGWKUHDGWKHNH\ERDUGLQSXWIRFXV
SURSHUW\RIWKHQHZWKUHDGZLOOGHWHUPLQHZKLFKZLQGRZWKHNH\ERDUGPHVVDJHVZLOOEHVHQW
WR
,I\RXXVH6S\WRZDWFKNH\ERDUGPHVVDJHV\RXZLOOVHHWKDWDQH[WUDPHVVDJH
:0B&+$5LVJHQHUDWHG7KLVPHVVDJHFRQWDLQVWKHDFWXDOFKDUDFWHUFRGHHTXLYDOHQWWRLWV
$6&,,YDOXH LQWKHZ3DUDPPHPEHURILWV06*VWUXFWXUH7KHNH\ERDUGRQO\JHQHUDWHV
WKHVHPHVVDJHVLQWKLVVHTXHQFH :0B.(<83
:0B.(<'2:1
%XWZKHQWKHZLQGRZSURFHGXUHUHFHLYHVWKHVHPHVVDJHVWKH:0B&+$5PHVVDJH
P\VWHULRXVO\DSSHDUV7KHPHVVDJHVHTXHQFHQRZORRNVOLNHWKLV
:0B.(<83 :0B&+$5
:0B.(<'2:1
7KH:0B&+$5PHVVDJHLVJHQHUDWHGLQVLGHWKHPHVVDJHORRSRIWKHGHVWLQDWLRQWKUHDG$
VLPSOHPHVVDJHORRSLVZULWWHQOLNHWKLV
ZKLOH*HW0HVVDJH PVJ+:1' 18// ^
`
7UDQVODWH0HVVDJH PVJ
'LVSDWFK0HVVDJH PVJ `
7KH7UDQVODWH0HVVDJHIXQFWLRQLVNH\WRXQGHUVWDQGLQJKRZ:0B&+$5PHVVDJHVDUH
JHQHUDWHG:KHQWKH*HW0HVVDJHIXQFWLRQREWDLQVD:0B.(<'2:1RU
:0B6<6.(<'2:1PHVVDJHIURPWKHPHVVDJHTXHXHLWVHQGVLWWRWKH7UDQVODWH0HVVDJH
IXQFWLRQ7KLVIXQFWLRQILUVWGHWHUPLQHVLIWKHYLUWXDONH\FRGHFDQEHFRQYHUWHGWRDFKDUDFWHU
FRGH,ILWFDQLWFUHDWHVD:0B&+$5RU:0B6<6&+$5PHVVDJHGHSHQGLQJRQWKHW\SHRI
NH\GRZQPHVVDJH7KH:0B&+$5RU:0B6<6&+$5PHVVDJHVWUXFWXUHZLOOFRQWDLQWKH
FKDUDFWHUFRGHRIWKHNH\SUHVVHGLQLWVZ3DUDPPHPEHU7KHO3DUDPLQIRUPDWLRQIURPWKH
:0B.(<'2:1RU:0B6<6.(<'2:1PHVVDJHVWUXFWXUHVDUHSDVVHGRQXQFKDQJHGWR
WKHO3DUDPPHPEHURIWKH:0B&+$5RU:0B6<6&+$5PHVVDJHVWUXFWXUH
7KH7UDQVODWH0HVVDJHIXQFWLRQWKHQWDNHVWKHQHZ:0B&+$5RU:0B6<6&+$5PHVVDJH
DQGSODFHVLWDWWKHKHDGRIWKHPHVVDJHTXHXH7KLVPHDQVWKDWDIWHUWKH7UDQVODWH0HVVDJH
IXQFWLRQREWDLQVWKH:0B.(<'2:1RU:0B6<6.(<'2:1PHVVDJHIURPWKHPHVVDJH
TXHXHLWZLOOREWDLQHLWKHUWKH:0B&+$5RU:0B6<6&+$5PHVVDJHQH[W7KLVRFFXUVRQO\
LIWKH7UDQVODWH0HVVDJHIXQFWLRQFDQWUDQVODWHWKHYLUWXDONH\FRGHLQWRDFKDUDFWHUNH\FRGH
RWKHUZLVHLWZRQ WFUHDWH:0B&+$5RU:0B6<6&+$5PHVVDJHV
%$&.63$&(
(17(5FDUULDJHUHWXUQ (6&
6+,)7(17(5OLQHIHHG
7$%
$OOFKDUDFWHUVLQWKH$6&,,YDOXHUDQJHRI +WR +))
)
$/7^NH\`
7KHODVWVWHSLVWRVHQGWKHPHVVDJHWRWKHFRUUHFWZLQGRZSURFHGXUH7KHNH\ERDUGLQSXW
IRFXVSURSHUW\RIWKHWKUHDGGHWHUPLQHVZKLFKZLQGRZSURFHGXUHZLOOUHFHLYHWKHNH\ERDUG
PHVVDJH
IRFXVIRUWKHWKUHDGLQZKLFKWKLVIXQFWLRQLVH[HFXWHG
%DVLF9% DVIROORZV
3ULYDWH'HFODUH)XQFWLRQ*HW)RFXV/LEXVHU$OLDV*HW)RFXV $V/RQJ
7KLVIXQFWLRQWDNHVQRSDUDPHWHUVDQGUHWXUQVWKHK:QGRIWKHZLQGRZZLWKNH\ERDUGLQSXW IRFXV,IQRZLQGRZKDVWKHNH\ERDUGLQSXWIRFXVWKLVIXQFWLRQUHWXUQVD18//
'HVFULSWLRQRI+RRNV 7KH:+B.(<%2$5'DQG:+B.(<%2$5'B//KRRNVLQWHUFHSWPHVVDJHVWKDWUHODWHWR
NH\ERDUGLQSXW7KHPDLQGLIIHUHQFHLVWKDWWKH:+B.(<%2$5'B//KRRNFDSWXUHV
PHVVDJHVVRRQHULQWKHPHVVDJLQJV\VWHPWKDQWKH:+B.(<%2$5'KRRNGRHV7KLVDOORZV
WKH:+B.(<%2$5'B//KRRNWRFDSWXUHFHUWDLQNH\ERDUGPHVVDJHVWKDWWKH
:+B.(<%2$5'KRRNFDQQRWFDSWXUH
G\QDPLFOLQNOLEUDU\'// DQGXVHLWDVDV\VWHPZLGHKRRN
:+B.(<%2$5'B//KRRNRQO\DVDV\VWHPZLGHKRRNKRZHYHU$WKUHDGVSHFLILFKRRN
LQWHUFHSWVDOOPHVVDJHVZLWKLQWKHWKUHDGLQZKLFKLWLVLQVWDOOHG:KHQ\RXLQVWDOODKRRNDVD
V\VWHPZLGHKRRN\RXPXVWSODFHLWLQD'//7KLV'//LVLQMHFWHGLQWRHYHU\SURFHVVVRWKDW
WKHKRRNFDQRSHUDWHRQDOOPHVVDJHVLQWKHV\VWHP&KDSWHUGLVFXVVHVWKLVLQGHWDLO
%RWKKRRNVFDQRQO\PRQLWRURUUHPRYHDNH\ERDUGPHVVDJHQHLWKHUKRRNFDQPRGLI\WKH
PHVVDJH7KH:+B.(<%2$5'KRRNFDQLQWHUFHSWWZRVSHFLILFPHVVDJHVWKH\DUH
:0B.(<'2:1DQG:0B.(<837KH:+B.(<%2$5'B//KRRNFDQLQWHUFHSWWKHVHWZR PHVVDJHVDVZHOODVDQ\:0B6<6.(<'2:1DQG:0B6<6.(<83PHVVDJHV7KHUHLV
RQHNH\FRPELQDWLRQWKDWQHLWKHUKRRNFDQUHPRYHWKLVLVWKH&75/$/7'(/NH\
FRPELQDWLRQ%\SUHYHQWLQJWKLVNH\FRPELQDWLRQIURPRSHUDWLQJ\RXFRXOGRSHQXSVHFXULW\
KROHVLQWKH:LQGRZV17RSHUDWLQJV\VWHPV7KH:+B.(<%2$5'B//KRRNXQOLNHWKH
:+B.(<%2$5'KRRNFDQGHWHFWWKH&75/$/7'(/NH\FRPELQDWLRQWKRXJK
$QRWKHUGLIIHUHQFHEHWZHHQWKHWZRKRRNVLVWKDWWKH:+B.(<%2$5'B//KRRNFDQ
GHWHUPLQHLIWKHNH\ERDUGPHVVDJHDFWXDOO\RULJLQDWHGDWWKHNH\ERDUGRULILWZDVLQMHFWHG
LQWRWKHPHVVDJLQJV\VWHP
E\XVLQJWKH6HQG,QSXWIXQFWLRQZKLFKLVGHILQHGDVIROORZV
8,176HQG,QSXW8,17X,QSXWV/3,1387S,QSXW8,17FE6L]H
,WKDVWKHIROORZLQJWKUHHSDUDPHWHUV X,QSXWV S,QSXW FE6L]H
7KHQXPEHURI,1387VWUXFWXUHVLQWKHDUUD\SRLQWHGWRE\S,QSXW $SRLQWHUWRDQDUUD\RI,1387VWUXFWXUHV 7KHVL]HRIWKH,1387VWUXFWXUH
7KH,1387VWUXFWXUHFRQWDLQVPHPEHUVLGHQWLI\LQJWKHW\SHRIPHVVDJHNH\ERDUGPRXVHRU
KDUGZDUH DQGDVWUXFWXUHLGHQWLI\LQJWKHUHOHYDQWGDWDIRUWKHW\SHRIPHVVDJHLGHQWLILHG
7KH6HQG,QSXWIXQFWLRQUHSODFHVWKH.H\EGBHYHQWIXQFWLRQIRUDOORSHUDWLQJV\VWHPVH[FHSW
:LQGRZV1RWHWKDW:LQGRZV17PXVWKDYH6HUYLFH3DFNRUJUHDWHULQVWDOOHG
6HQG,QSXWWRFUHDWHPHVVDJHVDQGLQMHFWWKHPLQWRWKHPHVVDJHVWUHDPVRWKDWWKH\DUH
DOPRVWLQGLVWLQJXLVKDEOHIURPQRUPDOPHVVDJHV)RUH[DPSOH\RXFDQXVHWKLVIXQFWLRQWR
FUHDWH:0B.(<83DQG:0B.(<'2:1PHVVDJHVWRVLPXODWHNH\VWURNHV)XUWKHU GLVFXVVLRQRIWKLVIXQFWLRQLVEH\RQGWKHVFRSHRIWKLVERRN
2QHSLHFHRILQIRUPDWLRQWKDWRQO\WKH:0B.(<%2$5'KRRNFDQGHWHUPLQHLVWKHUHSHDW
FRXQWRIWKHNH\EHLQJSUHVVHG7KHUHSHDWFRXQWLVWKHQXPEHURIWLPHVWKHVDPHNH\KDV
EHHQUHSHDWHGZKLOHWKHXVHULVKROGLQJGRZQWKHNH\,QVWHDGRIVHQGLQJDVDVHSDUDWH
PHVVDJHHYHU\UHSHDWHGNH\FKDUDFWHUWKHXVHUVHQGVWRWKHV\VWHPWKHV\VWHPVHQGVRQH
PHVVDJHZLWKDUHSHDWFRXQWSURSHUW\WKDWGHWHUPLQHVKRZPDQ\WLPHVWKHNH\KDVUHSHDWHG
SURFHVVWKHLQGLYLGXDOPHVVDJHVTXLFNO\HQRXJK7RLOOXVWUDWHWKLVWKHPHVVDJHVSURGXFHG IURPSUHVVLQJDQGKROGLQJGRZQDNH\QRUPDOO\ORRNOLNHWKLV
:0B.(<'2:15HSHDWFRXQW
:0B&+$55HSHDWFRXQW
:0B.(<'2:15HSHDWFRXQW
:0B&+$55HSHDWFRXQW
:0B.(<'2:15HSHDWFRXQW
:0B&+$55HSHDWFRXQW
:0B.(<'2:15HSHDWFRXQW
:0B&+$55HSHDWFRXQW
:0B.(<'2:15HSHDWFRXQW
:0B&+$55HSHDWFRXQW
:0B.(<'2:15HSHDWFRXQW
:0B&+$55HSHDWFRXQW
:0B.(<'2:15HSHDWFRXQW
:0B&+$55HSHDWFRXQW
:0B.(<835HSHDWFRXQW
,IWKHDSSOLFDWLRQLVEXV\SURFHVVLQJRWKHUPHVVDJHVDQGFDQQRWSURFHVVWKH
:0B.(<'2:1RU:0B6<6.(<'2:1PHVVDJHVTXLFNO\HQRXJKLWXVHVWKHUHSHDWFRXQW
SURSHUW\7KHPHVVDJHVSURGXFHGLQWKLVFDVHZRXOGORRNOLNHWKLV
:0B.(<'2:15HSHDWFRXQW
:0B&+$55HSHDWFRXQW
:0B.(<'2:15HSHDWFRXQW
7KLVDOORZVWKHV\VWHPWRPRUHHIILFLHQWO\TXHXHPHVVDJHVLQWKHWKUHDG VPHVVDJHTXHXH
7KH:+B.(<%2$5'B//KRRNFDSWXUHVPHVVDJHVEHIRUHWKH\KDYHDFKDQFHWREHSRVWHG
WRDQ\WKUHDG VPHVVDJHTXHXH:LWKWKLVKRRN\RXDOVRFDQFDSWXUHV\VWHPNH\ERDUG
PHVVDJHV:0B6<6.(<83DQG:0B6<6.(<'2:1
:+B.(<%2$5'B//LVDQLQWHUHVWLQJH[FHSWLRQEHFDXVH\RXFDQLQVWDOOLWRQO\DVDV\VWHP
ZLGHKRRN$V,SUHYLRXVO\PHQWLRQHGV\VWHPZLGHKRRNVPXVWUHVLGHLQD'//+RZHYHU
WKLVKRRNDVZHOODVWKH:+B0286(B//:+B-2851$/3/$<%$&.DQG
:+B-2851$/5(&25'KRRNVFDQUHVLGHHLWKHULQDQ(;(RU'//PRGXOH7KLVPHDQVWKDW
ZHFDQLPSOHPHQWWKHVHIRXUKRRNVZLWKLQ9%7KLVLVEHFDXVHWKHILOWHUIXQFWLRQVRIWKHVH
KRRNVDUHFDOOHGIURPZLWKLQWKHFRQWH[WRIWKHWKUHDGWKDWKDVLQVWDOOHGWKHVHW\SHVRIKRRNV
7RXQGHUVWDQGZK\WKHVHKRRNVFDQUHVLGHLQDQ(;(ZHQHHGWRXQGHUVWDQGKRZWKH\
PDQLSXODWHWKHPHVVDJHSURFHVVLQJRIHDFKWKUHDGUXQQLQJLQWKHV\VWHP1RUPDOO\HYHU\
WKUHDGKDVLWVRZQPHVVDJHTXHXHWRZKLFKLWLVFRQQHFWHG7KHVHPHVVDJHTXHXHVUHFHLYH
PHVVDJHVIURPWKH5,77KLVDUFKLWHFWXUHJLYHVDOOELW:LQGRZVRSHUDWLQJV\VWHPVUREXVW
PXOWLWKUHDGLQJFDSDELOLW\DQGSUHYHQWVRQHDSSOLFDWLRQIURPKDQJLQJWKHZKROHV\VWHP$VZH
ZLOOVHHKRZHYHULQVWDOOLQJWKH:+B.(<%2$5'B//KRRNGHVWUR\VWKLVRQHWRRQH
UHODWLRQVKLSEHWZHHQDWKUHDGDQGLWVPHVVDJHTXHXH
,WLVSRVVLEOHWRIRUFHPXOWLSOHWKUHDGVWRUHFHLYHPHVVDJHVIURPDVLQJOHPHVVDJHTXHXH
$3, IXQFWLRQ
3ULYDWH'HFODUH)XQFWLRQ$WWDFK7KUHDG,QSXW/LEXVHUB
$OLDV$WWDFK7KUHDG,QSXW
,WVSDUDPHWHUVDUH LG$WWDFK
%\9DOLG$WWDFK$V/RQJB
%\9DOLG$WWDFK7R$V/RQJB?
%\9DOI$WWDFK$V/RQJ $V/RQJ
7KHWKUHDG,'RIWKHWKUHDGWREHDWWDFKHGWRDQRWKHUWKUHDG VPHVVDJHTXHXH
LG$WWDFK7R
7KHWKUHDG,'RIWKHWKUHDGFRQWDLQLQJWKHPHVVDJHTXHXHWRZKLFKWKHWKUHDG
I$WWDFK
VSHFLILHGE\LG$WWDFKLVDWWDFKHG
7UXHVSHFLILHVWRDWWDFKWKHWZRWKUHDGV)DOVHVSHFLILHVWRXQDWWDFKWKHWZRWKUHDGV
$UHWXUQYDOXHRI]HURLQGLFDWHVWKDWWKLVIXQFWLRQIDLOHGDQ\RWKHUYDOXHLQGLFDWHVVXFFHVV
1RWHWKDW\RXFDQQRWDWWDFKDWKUHDGWRWKH5,7WRLWVHOIRUWRDWKUHDGLQDQRWKHUGHVNWRS
7KHPHVVDJHTXHXHWKDWLVXVHGE\WKHWKUHDGWKDWLG$WWDFKVSHFLILHVGRHVQRWUHFHLYHLQSXW
DIWHUWKLVWKUHDGLVDWWDFKHGWRWKHRWKHUPHVVDJHTXHXH
:KHQ\RXLQVWDOOD:+B.(<%2$5'B//KRRNLQDWKUHDGWKHV\VWHPDWWDFKHVDOOWKUHDGVWR
WKHPHVVDJHTXHXHRIWKHWKUHDGWKDWLQVWDOOHGWKLVKRRN7KLVLVVLPLODUWRFDOOLQJ
$WWDFK7KUHDG,QSXWIRUHDFKWKUHDGDQGVHWWLQJWKHYDOXHRILG$WWDFKWRWKHWKUHDG,'IRUHDFK
LQGLYLGXDOWKUHDGDOZD\VVHWWLQJLG$WWDFK7RWRWKHWKUHDG,'RIWKHWKUHDGWKDWLQVWDOOHGWKH
MRXUQDOKRRNDQGDOZD\VVHWWLQJI$WWDFKWR7UXH7KHUHVXOWLVDVLQJOHPHVVDJHTXHXHIRUDOO
WKUHDGVLQWKHV\VWHP)LJXUHLOOXVWUDWHVWKLVFRQFHSW
)LJXUH7KUHDGVWDWHEHIRUHDQGDIWHUD:+B.(<%2$5'B//KRRNLVLQVWDOOHG
%HFDXVHDVLQJOHPHVVDJHTXHXHLVIHHGLQJDOOWKUHDGVLQWKHV\VWHP\RXFDQFDOOWKHVH
KRRNVIURPZLWKLQWKHFRQWH[WRIWKHWKUHDGWKDWLQVWDOOHGWKHKRRNVZKLFKLQRXUFDVHLVWKH
9%DSSOLFDWLRQ
2UGLQDULO\'//VDUHUHTXLUHGIRUV\VWHPZLGHKRRNVEHFDXVHHDFKWKUHDGKDVLWVRZQ
PHVVDJHTXHXH7KLV'//LVLQMHFWHGLQWRHYHU\SURFHVVVRWKDWWKHKRRNFDQRSHUDWHRQDOO
PHVVDJHVDQGDOOPHVVDJHTXHXHV LQWKHV\VWHP$Q(;(XQOLNHD'//FDQQRWEHLQMHFWHG
LQWRHYHU\SURFHVVDQGKHQFHFDQQRWRSHUDWHRQDOOPHVVDJHVZKHQWKHUHDUHPXOWLSOH
PHVVDJHTXHXHV2QWKHRWKHUKDQG\RXFDQLQVWDOO:+B.(<%2$5'B//IRUDVLQJOHWKUHDG
DQGVWLOOUHFHLYHHYHU\PHVVDJHWKHV\VWHPJHQHUDWHVEHFDXVHHYHU\PHVVDJHLVEHLQJ
IXQQHOHGWKURXJKDVLQJOHPHVVDJHTXHXH
)LOWHU)XQFWLRQ'HILQLWLRQV
7KHIXQFWLRQSURWRW\SHIRUWKH:+B.(<%2$5'KRRNLVGHILQHGDVIROORZV
3XEOLF)XQFWLRQ:QG.H\%RDUG3URF%\9DOX&RGH$V/RQJB
,WVSDUDPHWHUVDUH X&RGH
%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
7KHFRGHVHQWWRWKLVKRRNWKDWLQIRUPVWKHGHYHORSHUKRZWRKDQGOHWKLVNH\ERDUG
PHVVDJH
Z3DUDP O3DUDP
7KHYLUWXDONH\FRGH
7KLVPHPEHUFRQWDLQVIODJVDQGRWKHULQIRUPDWLRQDERXWWKHNH\SUHVVHG,QIRUPDWLRQ
LQFOXGHVWUDQVLWLRQVWDWHIODJSUHYLRXVNH\VWDWHIODJFRQWH[WFRGHH[WHQGHGNH\IODJ
VFDQFRGHDQGNH\UHSHDWFRXQW
7KHIXQFWLRQSURWRW\SHIRUWKH:+B.(<%2$5'B//KRRNLVGHILQHGDVIROORZV
3XEOLF)XQFWLRQ:QG.H\%RDUG3URFB//%\9DOX&RGH$V/RQJB
%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
7KHKRRN VSDUDPHWHUVDUH X&RGH
7KHFRGHVHQWWRWKLVKRRNWKDWLQIRUPVWKHGHYHORSHUKRZWRKDQGOHWKLVNH\ERDUG
PHVVDJH
Z3DUDP
7KHPHVVDJH,':0B.(<'2:1:0B.(<83:0B6<6.(<'2:1RU
O3DUDP
:0B6<6.(<83
$SRLQWHUWRD.%'//+22.6758&7VWUXFWXUH
7KH.%'//+22.6758&7VWUXFWXUHFRQWDLQVLQIRUPDWLRQVSHFLILFWRWKH
:+B.(<%2$5'B//KRRNVRPHRIZKLFK\RXFDQQRWREWDLQWKURXJKWKH:+B.(<%2$5' KRRN7KLVVWUXFWXUHLVGHILQHGLQ9%DVIROORZV
3ULYDWH7\SH.%'//+22.6758&7
YN&RGHDV/RQJ
VFDQ&RGHDV/RQJ
WLPHDV/RQJ
IODJVDV/RQJ
(QG7\SH
GZ([WUD,QIRDV/RQJ
7KHPHPEHUVRIWKH.%'//+22.6758&7VWUXFWXUHDUH
YN&RGH
7KHYLUWXDONH\FRGH
VFDQ&RGH IODJV
WLPH
7KHVFDQFRGH 7KLVPHPEHUFRQWDLQVIODJVIRUWKHNH\SUHVVHG7KHIODJVLQFOXGHH[WHQGHGNH\
LQMHFWHGPHVVDJHFRQWH[WFRGHDQGWUDQVLWLRQVWDWH 7KHWLPHWKLVPHVVDJHZDVSRVWHG
GZ([WUD,QIR
$SRLQWHUWRH[WUDGHYHORSHUGHILQHGLQIRUPDWLRQ
([SODQDWLRQRI+RRN&RGHV 7KHV\VWHPVHQGVWZRFRGHVWRWKHX&RGHSDUDPHWHURIWKH:+B.(<%2$5'KRRN VILOWHU IXQFWLRQ+&B$&7,21DQG+&B125(029(7KH:+B.(<%2$5'B//KRZHYHURQO\
UHFHLYHVWKH+&B$&7,21FRGH7KHUHLVQRUHDVRQIRUWKHORZOHYHONH\ERDUGKRRNWRXVHWKH
+&B125(029(FRGHEHFDXVHWKHPHVVDJHVKDYHQRW\HWEHHQSODFHGRQWRWKHPHVVDJH
TXHXH(DFKFRGHLVGHILQHGKHUH +&B$&7,21
7KHZ3DUDPDQGO3DUDPSDUDPHWHUVFRQWDLQLQIRUPDWLRQDERXWNH\ERDUGPHVVDJHV
WKDWKDYHEHHQUHPRYHGIURPWKHPHVVDJHTXHXH*HW0HVVDJH
+&B125(029(
7KHZ3DUDPDQGO3DUDPSDUDPHWHUVFRQWDLQLQIRUPDWLRQDERXWNH\ERDUGPHVVDJHV
WKDWKDYHEHHQUHDGEXWQRWUHPRYHGIURPWKHPHVVDJHTXHXH3HHN0HVVDJH
/RFDWLRQRI7KLV+RRNLQWKH6\VWHP 7KH:+B.(<%2$5'KRRNLVFDOOHGLQWKHPHVVDJHORRSRIDWKUHDG7KLVKRRNLVORFDWHG
LQVLGHRIWKH*HW0HVVDJHDQG3HHN0HVVDJHIXQFWLRQVDV)LJXUHLOOXVWUDWHV
7KHUHIRUHLIWKHKRRNUHWXUQVDWKHV\VWHPGLVFDUGVWKHPHVVDJHLQVLGHWKH*HW0HVVDJH
RU3HHN0HVVDJHIXQFWLRQDQGWKHUHVWRIWKHPHVVDJHORRSGRHVQRWSURFHVVWKHPHVVDJH )LJXUH7KHORFDWLRQRIWKH:+B.(<%2$5'KRRN
7KH:+B.(<%2$5'B//KRRNDOVRLVORFDWHGLPPHGLDWHO\EHIRUHDPHVVDJHLVSODFHGLQWR
WKHPHVVDJHTXHXHRIWKHWKUHDGWKDWLQVWDOOHGWKHKRRNDV)LJXUHLOOXVWUDWHV
5HPHPEHUWKDWDOOPHVVDJHTXHXHVDUHDWWDFKHGWRWKHPHVVDJHORRSRIWKLVVDPHWKUHDG
$7KUHDG6SHFLILF([DPSOH 7KHILUVWH[DPSOHXVLQJWKH:+B.(<%2$5'KRRNZLOOEHWKUHDGVSHFLILF7KLVH[DPSOHZLOO
ZDWFKIRUWKH:LQGRZVNH\RQWKHNH\ERDUGWREHSUHVVHGDORQJZLWKWKHZNH\:KHQWKH
XVHUSUHVVHVWKLVNH\FRPELQDWLRQ,QWHUQHW([SORUHUVWDUWV,WLVHDV\WRFKDQJHWKHNH\
FRPELQDWLRQDQGWKHDSSOLFDWLRQWKDWLVVWDUWHGWRVXLW\RXURZQSXUSRVHV
7RXVHWKHDSSOLFDWLRQVLPSO\FOLFNWKH+RRNEXWWRQLQWKH:+B.(<%2$5'IUDPHRQWKH9%
IRUP1H[WSUHVVWKH:LQGRZVNH\RQWKHNH\ERDUGDQGKROGLWGRZQZKLOHSUHVVLQJWKHZ
NH\,QWHUQHW([SORUHUVKRXOGVWDUW)LJXUHVKRZVDVFUHHQVKRWRIWKHDSSOLFDWLRQ VXVHU LQWHUIDFH8,
)LJXUH6FUHHQVKRWRIWKHWKUHDGVSHFLILFH[DPSOH
7DEOHOLVWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV 7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW7\SH
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
1DPH
)RUP
)RUP
&DSWLRQ
:+B.(<%2$5'+RRN7HVW
)RUP
%RUGHU6W\OH
)L[HG'LDORJ
)RUP
7RS
)RUP
/HIW
)RUP
+HLJKW
)RUP
:LGWK
)UDPH
&DSWLRQ
:+B.(<%2$5'
)UDPH
1DPH
)UDPH
)UDPH
7RS
)UDPH
/HIW
)UDPH
+HLJKW
)UDPH
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG+RRN
&RPPDQG%XWWRQ
&DSWLRQ
KRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG8Q+RRN
&RPPDQG%XWWRQ
&DSWLRQ
XQKRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
7KHDSSOLFDWLRQFRQWDLQVDKRRNEXWWRQWKDWLQVWDOOVWKHV\VWHPZLGHKRRNDQGDQXQKRRN
EXWWRQWKDWUHPRYHVWKHKRRN7KH9%FRGHLQ([DPSOHLVSODFHGEHKLQGHDFKEXWWRQ
LQWKH)RUPIUPPRGXOH
([DPSOH)RUPIUP&RGH 3ULYDWH6XEFPG+RRNB&OLFN &DOO6HW.H\ERDUG+RRN
(QG6XE
3ULYDWH6XEFPG8Q+RRNB&OLFN
&DOO5HPRYH.H\ERDUG+RRN (QG6XE
&/($183
3ULYDWH6XE)RUPB4XHU\8QORDG&DQFHO$V,QWHJHU8QORDG0RGH$V,QWHJHU ,I,V+RRNHG7KHQ
&DQFHO
0VJ%R[8QKRRNEHIRUHFORVLQJRUWKH,'(ZLOOFUDVK
(QG,I
(QG6XE
7KH)RUPB4XHU\8QORDGHYHQWVLPSO\FKHFNVWKH,V+RRNHGJOREDOIODJWRGHWHUPLQHLIWKH
KRRNLVVWLOOLQVWDOOHG,ILWLVWKHV\VWHPGLVSOD\VDPHVVDJHZDUQLQJWKHXVHUWKDWWKHKRRNLV
VWLOOLQSODFHDQGWKDWVKXWWLQJGRZQWKHDSSOLFDWLRQLVFDQFHOHG,IWKHDSSOLFDWLRQZHUHWRVKXW
GRZQZLWKRXWUHPRYLQJWKHKRRNLWZRXOGVXIIHUD*HQHUDO3URWHFWLRQ)DXOW*3)
([DPSOHSUHVHQWVWKHFRGHIRUWKH0RGXOHEDVPRGXOH$SULYDWHYDULDEOHK+RRNLV
GHFODUHGWRKROGWKHKDQGOHWRWKHKRRN$JOREDOYDULDEOH,V+RRNHGLVGHFODUHGDVDIODJ
LQGLFDWLQJZKHWKHUWKHKRRNLVLQVWDOOHG ([DPSOH0RGXOHEDV&RGH 3ULYDWHK+RRN$V/RQJ
3XEOLF,V+RRNHG$V%RROHDQ
6(70(66$*(),/7(5+22.
3XEOLF6XE6HW.H\ERDUG+RRN ,I,V+RRNHG7KHQ
0VJ%R['RQ WKRRN:+B.(<%2$5'WZLFHRU\RXZLOOEHXQDEOHWRXQKRRNLW
(OVH
K+RRN 6HW:LQGRZV+RRN([:+B.(<%2$5'$GGUHVV2I:QG.H\%RDUG3URFB $SS7KUHDG,' ,V+RRNHG 7UXH (QG,I
(QG6XE
5(029(0(66$*(),/7(5+22.
3XEOLF6XE5HPRYH.H\ERDUG+RRN 'LP5HW9DO$V/RQJ
5HW9DO 8QKRRN:LQGRZV+RRN([K+RRN ,V+RRNHG )DOVH (QG6XE
+22.),/7(5)81&7,21
3XEOLF)XQFWLRQ:QG.H\%RDUG3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB %\9DOO3DUDP$V/RQJ $V/RQJ 'LPE:LQ.H\'RZQ$V%RROHDQ 'LPE&KDU.H\8S$V%RROHDQ 'LPL:LQ.H\6WDWH$V,QWHJHU
,IX&RGH! 7KHQ
6HOHFW&DVHX&RGH
&DVH+&B$&7,21
L:LQ.H\6WDWH *HW$V\QF.H\6WDWH9.B/:,1
,IL:LQ.H\6WDWH$QG + +7KHQ
E:LQ.H\'RZQ 7UXH (OVH
E:LQ.H\'RZQ )DOVH
(QG,I
,IO3DUDP$QG + +7KHQ
:0B.(<83
E&KDU.H\8S 7UXH (OVH
:0B.(<'2:1
E&KDU.H\8S )DOVH (QG,I
,I+H[Z3DUDP $QGE:LQ.H\'RZQ$QG1RWE&KDU.H\8S 7KHQ
,I\RXGRWKLVRQDNH\GRZQWKHQ\RXJHWFRSLHVORDGHG
7KLVRQO\KDSSHQVZKHQWKH9%GULYHUDSSLV#WKHIRUHJURXQG
&DOO6KHOO&?3URJUDP)LOHV?,QWHUQHW([SORUHU?,H[SORUHH[HB
6:B6+2:1250$/
5HWXUQLQJIDOVHGLVDOORZVWKHZWREHVHQWWRWKHIRFXVZLQGRZ
:QG.H\%RDUG3URF
([LW)XQFWLRQ (QG,I
&DVH+&B125(029(
7KHPHVVDJHKDVQRWEHHQUHPRYHGIURPWKHPHVVDJHTXHXH
&DVH(OVH
'RQRWKLQJ
(QG6HOHFW (QG,I
:QG.H\%RDUG3URF &DOO1H[W+RRN([K+RRNX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
7KH6HW.H\ERDUG+RRNIXQFWLRQXVHVWKH6HW:LQGRZV+RRN([IXQFWLRQWRLQVWDOOWKH
:+B.(<%2$5'KRRNDQGVHWVWKH,V+RRNHGIODJWR7UXH7KH6HW:LQGRZV+RRN([IXQFWLRQ
XVHVWKH:+B.(<%2$5'FRQVWDQWWRVLJQLI\WKDWDNH\ERDUGKRRNLVWREHLQVWDOOHG7KH
:+B.(<%2$5'FRQVWDQWKDVDYDOXHRI
([DPSOHVKRZVKRZWRFRGHWKHILOWHUIXQFWLRQIRUWKHNH\ERDUGKRRN,QWKLVILOWHU
IXQFWLRQWKHSURFHVVLQJLVSHUIRUPHGZKHQWKH+&B$&7,21FRGHLVSDVVHGLQWRWKLV
IXQFWLRQRWKHUZLVHQRSURFHVVLQJRFFXUVDQGWKHQH[WKRRNLQWKHFKDLQLVFDOOHG7KHILUVW
WKLQJZHPXVWGRZKHQDQ+&B$&7,21FRGHLVSDVVHGLQWRWKLVIXQFWLRQLVWRGHWHUPLQHLI
WKH:LQGRZVNH\LVFXUUHQWO\SUHVVHG7RGRWKLVZHPXVWSDVVLQWKHYLUWXDONH\FRGHRIWKH
:LQGRZVNH\9.B/:,1 WRWKH*HW$V\QF.H\6WDWHIXQFWLRQ
*HW$V\QF.H\6WDWHLVGHFODUHGLQ9LVXDO%DVLFDVIROORZV
3ULYDWH'HFODUH)XQFWLRQ*HW$V\QF.H\6WDWH/LEXVHU%\9DOY.H\$V/RQJ B
$V,QWHJHU
,WVVLQJOHSDUDPHWHULV
9.H\
7KHYLUWXDONH\ZKRVHVWDWHLVWREHFKHFNHG
7KHUHWXUQYDOXHRIWKLVIXQFWLRQLVDQLQWHJHU7KHPRVWVLJQLILFDQWELWLVVHWLIWKHNH\
DVVRFLDWHGZLWKWKHY.H\SDUDPHWHULVFXUUHQWO\GRZQLWLV]HURRWKHUZLVH7KHOHDVW
VLJQLILFDQWELWLVVHWLIWKHXVHUSUHVVHGWKHNH\DIWHUDSULRUFDOOWR*HW$V\QF.H\6WDWH%\
$1'LQJWKHUHWXUQYDOXHRIWKLVIXQFWLRQZLWKWKHYDOXH +ZHFDQGHWHUPLQHLIWKHPRVW
VLJQLILFDQWELWLVVHW,IWKLVELWLVVHWWKH%RROHDQE:LQ.H\'RZQIODJLVVHWWR7UXHLQGLFDWLQJ
WKDWWKHOHIW:LQGRZVNH\LVFXUUHQWO\EHLQJSUHVVHG
7KHQH[WWKLQJWRGHWHUPLQHLVWKHVWDWHRIWKHPRVWVLJQLILFDQWELWRIWKHO3DUDPSDUDPHWHUIRU
WKLVILOWHUIXQFWLRQ7KLVELWLVWKHWUDQVLWLRQIODJIRUWKHNH\ERDUGHYHQW,IWKLVELWLVVHWWKHXVHU
LVUHOHDVLQJWKHNH\:0B.(<83 RWKHUZLVHWKHXVHULVSUHVVLQJLW:0B.(<'2:1 7KH
V\VWHPVHWVWKH%RROHDQE&KDU.H\8SIODJWR7UXHZKHQWKHXVHULVUHOHDVLQJWKHNH\
,IWKH:LQGRZVNH\LVSUHVVHGQH[WZHFDQGHWHUPLQHLIWKHZNH\DOVRLVEHLQJSUHVVHG
7KHYLUWXDONH\FRGHIRUWKHZNH\LV +7KHZ3DUDPSDUDPHWHURIWKHILOWHUIXQFWLRQ
FRQWDLQVWKHYLUWXDONH\FRGH7KHIROORZLQJOLQHRIFRGHWHVWVIRUWKLV
,I+H[Z3DUDP $QGE:LQ.H\'RZQ$QG1RWE&KDU.H\8S 7KHQ
:KHQWKLVVWDWHPHQWHYDOXDWHVWR7UXHWKH,QWHUQHW([SORUHUDSSOLFDWLRQVWDUWV:HPXVWGR
WZRPRUHLPSRUWDQWWKLQJVEHIRUHZHFDQH[LWWKLVIXQFWLRQ,IWKHV\VWHPGRHVQRWWKURZRXW
WKHPHVVDJHLWZLOOVWLOOEHVHQWWRLWVRULJLQDOGHVWLQDWLRQ7KLVFDXVHVDSUREOHPZKHQDQHGLW
ZLQGRZKDVWKHFXUUHQWNH\ERDUGLQSXWIRFXV,IWKHPHVVDJHUHDFKHVLWVRULJLQDOZLQGRZ
GHVWLQDWLRQWKHHGLWZLQGRZDZLVGLVSOD\HGLQWKHHGLWZLQGRZ7RVWRSWKLVIURP
KDSSHQLQJZHVLPSO\WKURZRXWWKHPHVVDJHDQGVWRSDQ\RWKHUNH\ERDUGKRRNVIURP
SURFHVVLQJWKHNH\ERDUGPHVVDJH)LUVWZHVHWWKHUHWXUQYDOXHIRUWKHILOWHUIXQFWLRQWR
7KLVFDXVHVWKHKRRNWRWKURZRXWWKHNH\ERDUGPHVVDJHIRUWKHZNH\WKHUHIRUHLWZLOO
QHYHUUHDFKWKHLQWHQGHGZLQGRZZLWKNH\ERDUGIRFXV6HFRQGWKHILOWHUIXQFWLRQLVH[LWHG
DQGWKHQH[WILOWHUIXQFWLRQLQWKHKRRNFKDLQLVQRWFDOOHG
2QWKHRWKHUKDQGLIWKH:LQGRZVDQGZNH\VDUHQRWSUHVVHGZHFDOO&DOO1H[W+RRN([WR
SDVVWKHPHVVDJHRQWRWKHQH[WLQVWDOOHGILOWHUIXQFWLRQLQWKHKRRNFKDLQ
$6\VWHP:LGH([DPSOH $OORZLQJDVLQJOHDSSOLFDWLRQWRPDNHXVHRIWKH:LQGRZVNH\LVQLFHEXWLWZRXOGEHEHWWHULI
ZHFRXOGDGGDV\VWHPZLGH:LQGRZVNH\IXQFWLRQ7DNLQJWKHSUHYLRXVH[DPSOHRQHVWHS
IXUWKHUZHFRXOGFUHDWHWKHKRRNZLWKDV\VWHPZLGHVFRSHVRWKDWQRPDWWHUZKLFK
DSSOLFDWLRQ\RXZHUHLQ\RXFRXOGDOZD\VSUHVVWKH:LQGRZVNH\DORQJZLWKWKHZNH\DQG
,QWHUQHW([SORUHUZRXOGVWDUW7KLVLVVLPLODULQFRQFHSWWR:LQGRZV GHIDXOWEHKDYLRURI
ODXQFKLQJ:LQGRZV([SORUHUZKHQWKHXVHUSUHVVHVWKH:LQGRZVNH\DORQJZLWKWKHHNH\
7KH8,IRUWKLVDSSOLFDWLRQZKLFK)LJXUHLOOXVWUDWHVLVYHU\VLPSOH7KH+RRNEXWWRQ
VLPSO\LQVWDOOVWKHKRRNE\LQMHFWLQJWKH&'//FRQWDLQLQJWKHILOWHUIXQFWLRQLQWRDOOUXQQLQJ
SURFHVVHV1RZZHFDQSUHVVWKH+RRNEXWWRQDQGKDYH,QWHUQHW([SORUHUVWDUWZKHQZH SUHVVWKH:LQGRZVNH\DQGWKHZNH\7KH8QKRRNEXWWRQUHPRYHVWKHKRRNIURPDOO
UXQQLQJSURFHVVHV
)LJXUH6FUHHQVKRWRIV\VWHPZLGHNH\ERDUGKRRNDSSOLFDWLRQ
7DEOHSUHVHQWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV 7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW7\SH
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
1DPH
6\V)RUP
)RUP
&DSWLRQ
6\V.H\+N
)RUP
%RUGHU6W\OH
)L[HG'LDORJ
)RUP
7RS
)RUP
/HIW
)RUP
+HLJKW
)RUP
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG+RRN
&RPPDQG%XWWRQ
&DSWLRQ
+RRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG8Q+RRN
&RPPDQG%XWWRQ
&DSWLRQ
8QKRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
:HGRQ WQHHGWRZULWHPXFK9%FRGHIRUWKH9%SRUWLRQRIWKLVDSSOLFDWLRQ([DPSOH VKRZVWKHFRGHIRUWKH6\V)RUPIUPPRGXOH7KHWZRH[WHUQDOIXQFWLRQV,QVWDOO)LOWHU'//
DQG8Q,QVWDOO)LOWHU'//DUHGHFODUHGILUVW7KH+RRNEXWWRQVLPSO\FDOOV,QVWDOO)LOWHU'//DQG
WKH8QKRRNEXWWRQFDOOV8Q,QVWDOO)LOWHU'//1RWKLQJHOVHRILPSRUWDQFHKDSSHQVLQWKH9%
FRGH
([DPSOH9%6\V)RUPIUP&RGHIRUD6\VWHPZLGH.H\ERDUG+RRN 3ULYDWH'HFODUH)XQFWLRQ,QVWDOO)LOWHU'///LE?6\V+RRN?'HEXJ?0DLQ+RRN'OO B
$V/RQJ
3ULYDWH'HFODUH)XQFWLRQ8Q,QVWDOO)LOWHU'///LE?6\V+RRN?'HEXJ?0DLQ+RRN'OO B
$V/RQJ
3XEOLF6XEFPG+RRNB&OLFN 'LPO5HW9DO$V/RQJ
O5HW9DO ,QVWDOO)LOWHU'//
,IO5HW9DO!7KHQ
0VJ%R[(UURU,QVWDOOLQJ.H\ERDUG+RRN
(QG,I
(QG6XE
3XEOLF6XEFPG8QKRRNB&OLFN
'LPO5HW9DO$V/RQJ
O5HW9DO 8Q,QVWDOO)LOWHU'//
,IO5HW9DO!7KHQ
0VJ%R[(UURUUHPRYLQJ.H\ERDUG+RRN
(QG,I
(QG6XE
7KH'//FRQWDLQVWKHPDLQIXQFWLRQDOLW\,ZURWHWKLVFRGHLQ&DQGSODFHGLWLQD:LQ
'//,GLGWKLVEHFDXVHDV\VWHPZLGHKRRNPXVWEHSODFHGLQD'//DQG9%FDQQRWFUHDWH
WUXH:LQ'//V7KHV\VWHPLQMHFWVWKLV'//LQWRHYHU\SURFHVV7KHUHIRUHDQ\SURFHVVFDQ
FDOORXUKRRNIXQFWLRQ
7KH'//FRQWDLQVWZRH[SRUWHGIXQFWLRQV,QVWDOO)LOWHU'//DQG8Q,QVWDOO)LOWHU'//DVZHOODV
WKH.H\ERDUG)XQFILOWHUIXQFWLRQ([DPSOHVKRZVWKHFRGHDGGHGWRWKH0DLQ+RRNK
KHDGHUILOH7KHILUVWOLQHGHILQHVWKH6\V0VJ3URFILOWHUIXQFWLRQDVW\SH&$//%$&.7KHUHVW
RIWKHFRGHGHILQHVWKHWZRH[SRUWHGIXQFWLRQVDV0$,1+22.B$3,0$,1+22.B$3,LVLQ
WXUQGHILQHGDVBBGHFGOVSHFGOOH[SRUW
([DPSOH7KH0DLQ+RRNK+HDGHU)LOH
GHILQH0$,1+22.B$3,BBGHFOVSHFGOOH[SRUW
GHILQH&&219BVWGFDOO GHILQH120$1*/(
'HILQH VDQG6WUXFWXUHXVHGE\:+B.(<%2$5'B//
GHILQH:+B.(<%2$5'
GHILQH+&B$&7,21
W\SHGHIVWUXFWWDJ.%'//+22.6758&7^
':25'YN&RGH
':25'VFDQ&RGH ':25'IODJV ':25'WLPH
':25'GZ([WUD,QIR
`.%'//+22.6758&7)$5 /3.%'//+22.6758&7 3.%'//+22.6758&7
)XQFWLRQGHFODUDWLRQV
/5(68/7&$//%$&..H\ERDUG)XQFLQWQ&RGH:3$5$0Z3DUDP/3$5$0O3DUDP
7KHVHFODVVHVDUHH[SRUWHGIURPWKH0DLQ+RRNGOO
LIGHIBBFSOXVSOXV H[WHUQ&^ HQGLI
0$,1+22.B$3,LQW,QVWDOO)LOWHU'//YRLG
0$,1+22.B$3,LQW8Q,QVWDOO)LOWHU'//YRLG LIGHIBBFSOXVSOXV `
HQGLI
([DPSOHVKRZVWKH0DLQ+RRNFSSILOH
([DPSOH7KH0DLQ+RRNFSS6RXUFH)LOH LQFOXGHVWGDI[K
LQFOXGH0DLQ+RRNK
LQFOXGH:,186(5+FRQWDLQVDOOWKHVHFRQVWDQWVVWUXFWVHWF
*OREDO9DULDEOHV
+$1'/( K,QVWDQFH
++22. KKRRN+RRNV
*OREDOLQVWDQFHKDQGOHIRU
+RRNKDQGOH
'//&RGH
%22/$3,(175<'OO0DLQ+$1'/(K0RGXOH
':25'XOBUHDVRQBIRUBFDOO /392,'OS5HVHUYHG
K,QVWDQFH K0RGXOH
VZLWFKXOBUHDVRQBIRUBFDOO
^
`
^
FDVH'//B352&(66B$77$&+
FDVH'//B7+5($'B$77$&+
FDVH'//B7+5($'B'(7$&+
FDVH'//B352&(66B'(7$&+
EUHDN
UHWXUQ758( `
7KHVDUHWKHH[SRUWHGIXQFWLRQV
0$,1+22.B$3,LQW,QVWDOO)LOWHU'//YRLG ^
KKRRN+RRNV 6HW:LQGRZV+RRN([:+B.(<%2$5'+22.352&
.H\ERDUG)XQF+,167$1&(
K,QVWDQFH
`
UHWXUQ
0$,1+22.B$3,LQW8Q,QVWDOO)LOWHU'//YRLG ^
'//
`
8QKRRN:LQGRZV+RRN([KKRRN+RRNV
UHWXUQ
)LOWHUIXQFWLRQIRU:+B.(<%2$5'
/5(68/7&$//%$&..H\ERDUG)XQFLQWQ&RGH:3$5$0Z3DUDP/3$5$0O3DUDP
^
ERRO ERRO
E:LQ.H\'RZQ E.H\8S
LIQ&RGH +&B$&7,21
^
&KHFNWRVHHLIWKH&75/NH\LVSUHVVHG WKH:0B.(<'2:1PHVVDJHZDV
SDVVHGLQ
E:LQ.H\'RZQ *HW$V\QF.H\6WDWH9.B/:,1 !!VL]HRI6+257
E.H\8S O3DUDP!!VL]HRI/3$5$0 E.H\XS :0B.(<83
LIZ3DUDP
^
[ E:LQ.H\'RZQ E.H\8S
:LQ([HF&??3URJUDP)LOHV??,QWHUQHW([SORUHU??,H[SORUHH[HB
6:B6+2:1250$/
UHWXUQ5HWXUQLQJIDOVHGLVDOORZVWKHZWREHVHQW
WRWKHIRFXVZLQGRZ
`
`
3DVVDOOPHVVDJHVRQWRWKHQH[WKRRNLQWKHFKDLQ
`
UHWXUQ&DOO1H[W+RRN([KKRRN+RRNVQ&RGHZ3DUDPO3DUDP
7RVWDUWWZRYDULDEOHVWKDWDUHJOREDOWRHDFKLQVWDQFHRIWKH'//DUHGHFODUHG7RVKDUH
YDULDEOHVEHWZHHQDOOLQVWDQFHVRID'//ZHPXVWGHFODUHWKHYDULDEOHLQDSUDJPD
GDWDBVHJFRGHEORFNVLPLODUWRWKHIROORZLQJ
SUDJPDGDWDBVHJ'//6+$5(
+:1'KZQG0DLQ 18//
SUDJPDGDWDBVHJ
7KLVFDXVHVDVLQJOHKZQG0DLQYDULDEOHWREHVKDUHGDFURVVWKHLQVWDQFHVRIWKLV'//)RU
WKLVDSSOLFDWLRQWKHUHDUHWZRJOREDOYDULDEOHVDQGQRYDULDEOHVDUHVKDUHGDFURVV'//
LQVWDQFHV7KHVHDUHWKHRQO\WZRJOREDOYDULDEOHVWKDWZHQHHGWRGHILQH
+$1'/(K,QVWDQFH*OREDOLQVWDQFHKDQGOHIRU'// ++22.KKRRN+RRNV+RRNKDQGOH
7KHK,QVWDQFHYDULDEOHFRQWDLQVWKHLQVWDQFHRUPRGXOHKDQGOHIRUWKH'//7KHV\VWHP
SDVVHVWKLVYDOXHWR'OO0DLQWKH'// VHQWU\SRLQWDVWKHILUVWSDUDPHWHU:HVLPSO\QHHG
WRDGGWKHIROORZLQJFRGHWRWKH'OO0DLQIXQFWLRQ
K,QVWDQFH K0RGXOH
7KHVHFRQGJOREDOYDULDEOHLVKKRRN+RRNV7KLVYDULDEOHFRQWDLQVWKHKDQGOHWRWKHLQVWDOOHG
KRRNZKLFKWKH6HW:LQGRZV+RRN([IXQFWLRQSDVVHVEDFN$VDQRWHQHYHUVKDUHWKHKRRN
KDQGOHDFURVV'//LQVWDQFHV(DFK'//ZLOOFDOOLWVRZQ,QVWDOO)LOWHU'//IXQFWLRQDQGREWDLQD
XQLTXHKRRNKDQGOH8VLQJDVLQJOHKRRNKDQGOHDFURVVDOO'//LQVWDQFHVZLOOFDXVHDVHULRXV
SUREOHPIRUUXQQLQJDSSOLFDWLRQVLQWRZKLFK\RXKDYHLQMHFWHGWKLV'//
7KHUHDUHWKUHHPDLQIXQFWLRQVLQWKH'//DV([DPSOHVKRZV7KHILUVWLV
,QVWDOO)LOWHU'//ZKLFKLQVWDOOVWKHNH\ERDUGKRRN7KLVIXQFWLRQLVH[SRUWHGIURPWKH'//7KH
VHFRQGLV8Q,QVWDOO)LOWHU'//ZKLFKUHPRYHVWKHKRRN7KLVIXQFWLRQLVH[SRUWHGDVZHOO7KH
WKLUGIXQFWLRQLV.H\ERDUG)XQFZKLFKLVWKHILOWHUIXQFWLRQIRUWKHNH\ERDUGKRRN,QVWHDGRI
EHLQJH[SRUWHGWKLVIXQFWLRQLVGHILQHGDVDFDOOEDFNURXWLQH7KHIXQFWLRQDOLW\ZLWKLQWKLVILOWHU
IXQFWLRQLVVLPLODUWRWKHWKUHDGVSHFLILFILOWHUIXQFWLRQLQWKH9%H[DPSOHLQ([DPSOH
$/RZ/HYHO+RRN([DPSOH 7KHIROORZLQJH[DPSOHXVHVWKH:+B.(<%2$5'B//KRRNLQDSXUH9%DSSOLFDWLRQZKLFKLV
VKRZQLQ)LJXUH
ZD\\RXGRQRWKDYHWRXVHDQ\ODQJXDJHRWKHUWKDQ9%
)LJXUH6FUHHQVKRWRIORZOHYHONH\ERDUGKRRNDSSOLFDWLRQ
7DEOHSUHVHQWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV 7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW7\SH
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
1DPH
)RUP
)RUP
&DSWLRQ
:+B.(<%2$5'B//+RRN$SSOLFDWLRQ
)RUP
%RUGHU6W\OH
)L[HG'LDORJ
)RUP
7RS
)RUP
/HIW
)RUP
+HLJKW
)RUP
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG+RRN
&RPPDQG%XWWRQ
&DSWLRQ
KRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG8Q+RRN
&RPPDQG%XWWRQ
&DSWLRQ
XQKRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
7KLVDSSOLFDWLRQVHWVDV\VWHPZLGHORZOHYHONH\ERDUGKRRNDQGGLVFDUGVDQ\'(/NH\
SUHVVHV0RUHVSHFLILFDOO\LWGLVFDUGVWKH:0B.(<'2:1DQG:0B.(<83PHVVDJHVIRU
WKH'(/NH\
7RVHHKRZWKLVDSSOLFDWLRQRSHUDWHVRSHQXSVHYHUDOFRSLHVRI1RWHSDGRUDQRWKHUZRUG
SURFHVVRU&OLFNWKHKRRNEXWWRQRQWKHDSSOLFDWLRQZLQGRZZKLFKLVVKRZQLQ)LJXUH DQGWKHQWU\WRGHOHWHDQ\FKDUDFWHUVLQWKHZRUGSURFHVVLQJSURJUDPV1RWLFHWKDWWKH'(/ NH\IDLOVWRGRDQ\WKLQJQRWRQO\IRURQHZRUGSURFHVVRUEXWDOVRIRUDOOZRUGSURFHVVRUV
&OLFNWKHXQKRRNEXWWRQDQGWKHQWU\WRGHOHWHFKDUDFWHUVLQDQ\RIWKHZRUGSURFHVVRUV1RZ
WKH'(/NH\ZRUNVWKHZD\LWVKRXOG
7KHDSSOLFDWLRQFRQWDLQVDKRRNEXWWRQWKDWLQVWDOOVWKHV\VWHPZLGHKRRNDQGDQXQKRRN
EXWWRQWKDWUHPRYHVWKHKRRN7KH9%FRGHVKRZQLQ([DPSOHLVSODFHGEHKLQGHDFK
EXWWRQLQWKH)RUPIUPPRGXOH ([DPSOH)RUPIUP&RGH 3ULYDWH6XEFPG+RRNB&OLFN
&DOO6HW.H\ERDUG+RRN (QG6XE
3ULYDWH6XEFPG8Q+RRNB&OLFN
&DOO5HPRYH.H\ERDUG+RRN
(QG6XE
&/($183
3ULYDWH6XE)RUPB4XHU\8QORDG&DQFHO$V,QWHJHU8QORDG0RGH$V,QWHJHU
,I,V+RRNHG7KHQ &DQFHO
0VJ%R[8QKRRNEHIRUHFORVLQJRUWKH,'(ZLOOFUDVK
(QG,I
(QG6XE
([DPSOHSUHVHQWVWKHFRGHIRUWKH0RGXOHEDVPRGXOH
([DPSOH0RGXOHEDV&RGH 3ULYDWHK+RRN$V/RQJ
3XEOLF,V+RRNHG$V%RROHDQ
6(7+22.
3XEOLF6XE6HW.H\ERDUG+RRN
,I,V+RRNHG7KHQ
0VJ%R['RQ WKRRN:+B.(<%2$5'B//WZLFHRU\RXZLOOEHXQDEOHWRXQKRRNLW
(OVH
7KLVPXVWEHVHWXSDVDV\VWHPZLGHKRRN
K+RRN 6HW:LQGRZV+RRN([:+B.(<%2$5'B//$GGUHVV2I:QG//.H\%RDUG3URFB
$SSK,QVWDQFH ,V+RRNHG 7UXH (QG,I
(QG6XE
5(029(+22.
3XEOLF6XE5HPRYH.H\ERDUG+RRN 'LP5HW9DO$V/RQJ
5HW9DO 8QKRRN:LQGRZV+RRN([K+RRN ,V+RRNHG )DOVH (QG6XE
+22.),/7(5)81&7,21
3XEOLF)XQFWLRQ:QG//.H\%RDUG3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
O3DUDP$V.%'//+22.6758&7 $V/RQJ
'LPE&WUO.H\'RZQ$V%RROHDQ
'LPE$OW.H\3UHVVHG$V%RROHDQ 'LPL&WUO.H\6WDWH$V,QWHJHU
,IX&RGH! 7KHQ
6HOHFW&DVHX&RGH
&DVH+&B$&7,21
,ID'(/(7(NH\LVSXOOHGIURPWKHTXHXHWKHQGLVFDUGLW
,I+H[O3DUDPYN&RGH (7KHQ :QG//.H\%RDUG3URF ([LW)XQFWLRQ (QG,I
81&200(177+,66(&7,21726((+2:7+(&75/$/7'(/.(<&20%,1$7,21
$))(&767+,6+22.
L&WUO.H\6WDWH *HW$V\QF.H\6WDWH9.B&21752/
,IL&WUO.H\6WDWH$QG + +7KHQ
E&WUO.H\'RZQ 7UXH
(OVH
E&WUO.H\'RZQ )DOVH
(QG,I
,IO3DUDPIODJV$QG//.+)B$/7'2:1 //.+)B$/7'2:17KHQ
E$OW.H\3UHVVHG 7UXH
(OVH
E$OW.H\3UHVVHG )DOVH
(QG,I
,I+H[O3DUDPYN&RGH ( $QGE&WUO.H\'RZQ$QGE$OW.H\3UHVVHG 7KHQ
5HWXUQLQJIDOVHVWLOODOORZVWKH&75/$/7'(/WREHVHQW
WRWKHV\VWHP
5HWXUQLQJIDOVHIRUDQ\RWKHUFKDUDFWHUVGLVDOORZVLWWREHVHQW
WRWKHIRFXVZLQGRZ
:QG//.H\%RDUG3URF
([LW)XQFWLRQ
(QG,I
&DVH+&B125(029(
7KHPHVVDJHKDVQRWEHHQUHPRYHGIURPWKHPHVVDJHTXHXH
(QG6HOHFW (QG,I
:QG//.H\%RDUG3URF &DOO1H[W+RRN([K+RRNX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
7KHFRGHLVVLPLODUWRWKDWIRUWKHSUHYLRXVWKUHDGVSHFLILFKRRNVH[FHSWIRUWKHZD\WKHKRRN
LVLQVWDOOHG1RWLFHWKH6HW.H\ERDUG+RRNIXQFWLRQVKRZQLQ([DPSOHZKHUHWKH 6HW:LQGRZV+RRN([IXQFWLRQLVFDOOHG7KHODVWWZRDUJXPHQWVWRWKLVIXQFWLRQDUH
$SS,QVWDQFHDQG7KLVDOORZVXVWRVHWWKHKRRNDVDV\VWHPZLGHKRRNLQVWHDGRID
WKUHDGVSHFLILFRQH,QIDFWLIZHWULHGWRFDOOWKLVIXQFWLRQZLWKWKHODVWWZRSDUDPHWHUVVHWWR
DQG$SS7KUHDG,'DVZHZRXOGGRZLWKWKUHDGVSHFLILFKRRNV WKHIXQFWLRQZRXOGIDLODQG
UHWXUQD]HUR1RWHWKDWWKHV\VWHPZLOOQRWDOORZXVWRLQVWDOOWKLVKRRNDVDWKUHDGVSHFLILF
KRRNEHFDXVHRIWKHZD\WKDWLWUHFRQILJXUHVDOOWKHPHVVDJHTXHXHVWRVHQGPHVVDJHVWR
WKHPHVVDJHORRSRQWKHWKUHDGLQZKLFKWKHKRRNZDVLQVWDOOHG
7KH:QG//.H\%RDUG3URFIXQFWLRQZKLFKLVDOVRVKRZQLQ([DPSOHDFWVDVWKHILOWHU IXQFWLRQIRUWKLVKRRN7KLVIXQFWLRQZDWFKHVIRUWKH'(/:0B.(<'2:1RU:0B.(<83
PHVVDJHVWREHVHQWWRWKHPHVVDJHTXHXH7KHYLUWXDONH\FRGHIRUWKLVNH\LV($IWHUWKH
ILOWHUIXQFWLRQILQGVWKLVNH\FRGHLWUHWXUQVDDQGGRHVQRWFDOOWKHQH[WILOWHUIXQFWLRQLQWKH
FKDLQ7KLVSUHYHQWVDQ\RWKHUKRRNIURPDFWLQJRQWKLVNH\FRGHVRWKDWERWKWKH
:0B.(<'2:1DQG:0B.(<83PHVVDJHVDUHGLVFDUGHG
,I\RXZDQWWRVHHWKDWWKH&75/$/7'(/NH\FRPELQDWLRQFDQQRWEHGLVFDUGHGFRPPHQW WKHSUHYLRXVFRGHWKDWGLVFDUGHGRQO\WKH'(/NH\DQGXQFRPPHQWWKHIROORZLQJFRGH
81&200(177+,66(&7,2172
6((+2:7+,6+22.$))(&76
7+(&75/$/7'(/.(<&20%,1$7,21
:KHQ\RXUXQWKLVDSSOLFDWLRQDQGLQVWDOOWKHKRRN\RXFDQSUHVVWKH&75/$/7'(/NH\
FRPELQDWLRQ(YHQWKRXJKZHWU\ZHZLOOQRWVXFFHHGLQGLVFDUGLQJLW
&DYHDWV
3HUIRUPDQFHPLJKWEHDQLVVXHZKHQ\RXXVHWKH:+B.(<%2$5'DQG:+B.(<%2$5'B//
KRRNVHVSHFLDOO\ZLWKV\VWHPZLGHDQGORZOHYHONH\ERDUGKRRNV
KRRNVMXGLFLRXVO\
7KHORZOHYHONH\ERDUGKRRNIRUFHVHYHU\WKUHDGWRUHFHLYHPHVVDJHVIURPDVLQJOHTXHXH
7KLVLVKRZELW:LQGRZVRSHUDWLQJV\VWHPVZRUN7KHUHIRUHWKHRSHUDWLQJV\VWHPFDQQRW
WDNHDGYDQWDJHRIPXOWLWDVNLQJ$SUREOHPWKDWRFFXUVLQDOOELW:LQGRZVRSHUDWLQJ
V\VWHPVFDQQRZRFFXULQELW:LQGRZVRSHUDWLQJV\VWHPVDVLQJOHDSSOLFDWLRQFDQKDQJ
DOODSSOLFDWLRQVHYHQWKHGHVNWRS
%HFDXVHORZOHYHONH\ERDUGKRRNVVHULDOL]HDOOLQSXWWRDOOZLQGRZVWKHUHLVDODUJH
SHUIRUPDQFHSHQDOW\
WKHVHKRRNVLQVWDOOWKHPIRUDVOLWWOHWLPHDVSRVVLEOH
$OVRZKHQXVLQJWKH:+B.(<%2$5'B//ORZOHYHONH\ERDUGKRRNQRWHWKDWWKHGHEXJKRRN
FDQQRWUHFHLYHWKHLQSXWWRWKLVKRRNEHIRUHWKHKRRNLVFDOOHG7KHGHEXJKRRNZRUNV
QRUPDOO\ZLWKWKHNH\ERDUGKRRN:+B.(<%2$5' &KDSWHUGHVFULEHVWKHGHEXJKRRN :KHQXVLQJ:LQGRZV17RU:LQGRZVDORQJZLWKWKHHQKDQFHG:LQGRZVNH\ERDUGV
QRWHWKDWWKHNH\VZKLFKDUHGXSOLFDWHGRQWKHOHIWDQGULJKWQRZKDYHGLIIHUHQWYLUWXDONH\
FRGHV+HUHLVDOLVWRIOHIWDQGULJKWYLUWXDONH\FRGHV 9.B/:,1 and 9.B5:,1
7KHOHIWDQGULJKWYLUWXDONH\FRGHVIRUWKH:LQGRZVNH\V
9.B/6+,)7 and 9.B56+,)7
7KHOHIWDQGULJKWYLUWXDONH\FRGHVIRUWKHVKLIWNH\V
9.B/&21752/ and 9.B5&21752/
7KHOHIWDQGULJKWYLUWXDONH\FRGHVIRUWKHFRQWURONH\V
9.B/0(18 and 9.B50(18
7KHOHIWDQGULJKWYLUWXDONH\FRGHVIRUWKHPHQXNH\V
$UHJLVWU\NH\LVDVVRFLDWHGZLWKORZOHYHOKRRNVVXFKDV:+B.(<%2$5'B//DQG
:+B0286(B//:+B0286(B//LVGHVFULEHGLQ&KDSWHU 7KH':25'YDOXH
/RZ/HYHO+RRNV7LPHRXWLVORFDWHGLQWKHIROORZLQJUHJLVWU\NH\
+.(
7KLVUHJLVWU\NH\FRQWUROVWKHWLPHRXWYDOXHIRUDOOORZOHYHOKRRNV7KLVYDOXHLVH[SUHVVHGLQ
PLOOLVHFRQGV,IWKHILOWHUIXQFWLRQIRUDORZOHYHOKRRNGRHVQRWUHWXUQZLWKLQWKLVWLPHVSDQWKH
V\VWHPZLOOFDOOWKHQH[WORZOHYHOKRRNLQWKHFKDLQ
$OWKRXJKDOOELWDQGELWRSHUDWLQJV\VWHPVVXSSRUWWKH:+B.(<%2$5'KRRNDOOGRQRW
VXSSRUWWKH:+B.(<%2$5'B//KRRN7KH:+B.(<%2$5'B//KRRNLVIRXQGRQO\LQ
:LQGRZV176HUYLFH3DFNRUKLJKHU DQG:LQGRZVLWLVQRWIRXQGLQ:LQGRZV[
&KDSWHU:+B0286(DQG:+B0286(B// 7KLVFKDSWHUGHDOVILUVWZLWKWKH:+B0286(KRRNDQGWKHQZLWKWKH:+B0286(B//KRRN
7KH//VWDQGVIRUORZOHYHO7KLVFKDSWHUGHVFULEHVWKHVHKRRNVDQGGLVFXVVHVKRZWKH
:LQGRZVPHVVDJLQJV\VWHPKDQGOHVPRXVHPHVVDJHV,ZLOOSURYLGHH[DPSOHVXVLQJHDFK KRRN
+RZ0RXVH0HVVDJLQJ2SHUDWHV 8QOLNHZLWKNH\ERDUGPHVVDJHVWKHV\VWHPPXVWEHDEOHWRVHQGPRXVHPHVVDJHVWRDQ\
YLVLEOHZLQGRZLQWKHV\VWHPHYHQLILWLVQRWWKHDFWLYHZLQGRZ:HFDQVHHWKLVE\XVLQJ
6S\WRYLHZPRXVHPHVVDJHVRQDV\VWHPZLGHOHYHO6WDUW6S\DQGFOLFNWKH6S\"
0HVVDJHVPHQXLWHP7KH0HVVDJH2SWLRQVGLDORJZLOODSSHDU&KHFNWKH$OO:LQGRZV,Q
6\VWHPFKHFNER[RQWKH:LQGRZVWDEDQGFKHFNWKH0RXVHFKHFNER[RQWKH0HVVDJHVWDE
)LQDOO\FOLFNWKH2.EXWWRQ7KLVZLOOVWDUW6S\UHFRUGLQJPRXVHPHVVDJHV$V\RXPRYH
WKHPRXVHFXUVRURYHUZLQGRZVLQWKHV\VWHP\RXZLOOVHHWKDWDZLQGRZGRHVQRWKDYHWREH
DFWLYHWRUHFHLYHPRXVHPHVVDJHV7KH6S\RXWSXWORRNVVLPLODUWRWKLV :0B6(7&856256HQW
:0B6(7&856255HWXUQHG :0B0286(029(3RVWHG
7KLVVHULHVRIPHVVDJHVLVUHSHDWHGRYHUDQGRYHUDJDLQDVWKHXVHUPRYHVWKHPRXVH
DFURVVDQ\YLVLEOHZLQGRZVRQWKHGHVNWRS5LJKWRUOHIWFOLFNLQJDQ\YLVLEOHZLQGRZVDOVR VHQGVWKHDSSURSULDWHPRXVHPHVVDJHVWRWKDWZLQGRZ
$ZLQGRZGRHVKDYHWREHYLVLEOHWRWKHPRXVHFXUVRUWRUHFHLYHPHVVDJHVWKRXJK$Q\
ZLQGRZRUSDUWRIDZLQGRZKLGGHQEHKLQGDQRWKHUZLQGRZLQWKH=RUGHUZLOOQRWEHDEOHWR UHFHLYHPRXVHPHVVDJHV
SURFHVVHVPRXVHPHVVDJHV7KHRQO\ZLQGRZWKDWGRHVQRWVHHPWRUHFHLYHPHVVDJHVDW
DQ\WLPHLVWKH6S\ZLQGRZ6S\ZDWFKHVIRUPHVVDJHVWKDWDUHGLUHFWHGWRDQ\RILWV
RZQZLQGRZVDQGZLOOQRWGLVSOD\WKHP7KLVLVE\GHVLJQ\RXGRQRWZDQWDQ\PHVVDJHVWKDW
WKH6S\DSSOLFDWLRQUHFHLYHVWRFOXWWHUXSWKHGLVSOD\RIRWKHUPHVVDJHV
,IDOOYLVLEOHZLQGRZVGLGQRWUHFHLYHPRXVHLQSXWDWDV\VWHPZLGHOHYHOLWZRXOGEHYHU\
GLIILFXOWRUHYHQLPSRVVLEOHWRVZLWFKWRDQRWKHUZLQGRZVLPSO\E\FOLFNLQJLWDQGGUDJDQG
GURSDFWLRQVZRXOGQRWEHHDV\WRLPSOHPHQWDVZHOO7KHVHRWKHUZLQGRZVZRXOGQRWEHDEOH
WRUHFHLYHWKHUHTXLUHGPRXVHPHVVDJHV
8VLQJ6S\ZHFDQFRQFOXGHWKDWWKHV\VWHPGLUHFWVPRXVHPHVVDJHVWRWKHZLQGRZWKDWLV
GLUHFWO\XQGHUWKHPRXVHFXUVRURUPRUHVSHFLILFDOO\WKHPRXVHFXUVRUKRWVSRW$OVRD
ZLQGRZGRHVQRWKDYHWREHDFWLYHRUKDYHNH\ERDUGLQSXWIRFXVWRUHFHLYHPRXVHPHVVDJHV
LWRQO\QHHGVWREHYLVLEOHWRWKHPRXVHFXUVRU7KHUHLVDQH[FHSWLRQWKRXJKZKLFKUHYROYHV
DURXQGZKLFKZLQGRZKDVWKHPRXVHFDSWXUH
7KH0RXVH&DSWXUH :KHQDZLQGRZKDVWKHPRXVHFDSWXUHWKHV\VWHPUHGLUHFWVDOOPRXVHPHVVDJHVWRWKDW
ZLQGRZUHJDUGOHVVRIZKHWKHUWKHPRXVHFXUVRULVORFDWHGLQVLGHRURXWVLGHRIWKHZLQGRZ V
ERXQGLQJUHFWDQJOH2QO\RQHZLQGRZLQWKHV\VWHPFDQKDYHWKHPRXVHFDSWXUHDWDQ\RQH
WLPH
$VLQJOHGDWDVWUXFWXUHORFDWHGZLWKLQHDFKUXQQLQJWKUHDGFRQWDLQVWKHPRXVHFDSWXUHVWDWH
IRUDZLQGRZDORQJZLWKRWKHUPRXVHLQIRUPDWLRQVXFKDVFXUVRUVKDSHDQGYLVLELOLW\7KLVLV
WKHVDPHGDWDVWUXFWXUHWKDWFRQWDLQVWKHNH\ERDUGVWDWHLQIRUPDWLRQIRUHDFKWKUHDG$V
GLVFXVVHGLQ&KDSWHU\RXFDQVHWWKHZLQGRZRIRQHRUPRUHWKUHDGVWRKDYHWKH
NH\ERDUGLQSXWIRFXV7KLVZLQGRZPXVWEHRZQHGE\WKHWKUHDGWKDWLVVHWWLQJLWVNH\ERDUG
LQSXWIRFXVVWDWH%XWRQO\WKHDFWLYHIRUHJURXQGZLQGRZFDQDFWXDOO\SURFHVVNH\ERDUG
PHVVDJHV0RXVHFDSWXUHZRUNVVLPLODUO\DWPRVWRQHZLQGRZLQWKHV\VWHPFDQKDYHWKLV
DWDQ\RQHWLPH+RZHYHUQRUPDOO\QRZLQGRZVLQWKHV\VWHPKDYHWKHPRXVHFDSWXUH
:KHQQRZLQGRZVKDYHWKHPRXVHFDSWXUHPRXVHPHVVDJHVDUHSURFHVVHGE\WKHZLQGRZ
XQGHUWKHPRXVHFXUVRUDVWKH\QRUPDOO\ZRXOGEH:KHQDZLQGRZGRHVKDYHWKHPRXVH
FDSWXUHWKHV\VWHPVHQGVDOOPRXVHPHVVDJHVWRWKDWRQHZLQGRZQRPDWWHUZKLFKZLQGRZ
WKHPRXVHFXUVRULVRYHU6HWWLQJWKHPRXVHFDSWXUHLVPDLQO\XVHGIRUGUDJDQGGURSDQG GUDZLQJDSSOLFDWLRQVDVZHVKDOOVHH
7KHZLQGRZKDYLQJWKHPRXVHFDSWXUHGRHVQRWFDSWXUHPRXVHPHVVDJHVLQWZRVLWXDWLRQV
7KHILUVWLVZKHQWKHZLQGRZWKDWWKHPRXVHFXUVRULVRYHULVQRWLQWKHVDPHSURFHVVDVWKH
ZLQGRZWKDWKDVWKHPRXVHFDSWXUH,QWKLVVLWXDWLRQWKHV\VWHPVHQGVPRXVHPHVVDJHVWR
WKHZLQGRZLQWKHVHSDUDWHSURFHVVQRWWRWKHZLQGRZWKDWKDVWKHPRXVHFDSWXUH7KH
VHFRQGVLWXDWLRQLVZKHQWKHPRXVHFXUVRULVRYHUDZLQGRZWKDWLVLQWKHVDPHSURFHVVDV WKHZLQGRZWKDWKDVWKHPRXVHFDSWXUHEXWERWKZLQGRZVDUHLQVHSDUDWHWKUHDGV,QWKLV
FDVHWKHV\VWHPGLUHFWVPRXVHPHVVDJHVWRWKHZLQGRZWKDWKDVWKHPRXVHFDSWXUHRQO\ ZKHQDPRXVHEXWWRQLVGHSUHVVHGLQDOORWKHUFLUFXPVWDQFHVWKHV\VWHPVHQGVPRXVH
PHVVDJHVWRWKHZLQGRZLQWKHVHSDUDWHWKUHDG
7RVHWWKHPRXVHFDSWXUHIRUDZLQGRZ\RXQHHGWRFDOORQO\WKH6HW&DSWXUHIXQFWLRQZKLFK
LVGHFODUHGLQ9LVXDO%DVLF9% DVIROORZV
3ULYDWH'HFODUH)XQFWLRQ6HW&DSWXUH/LEXVHU$OLDV6HW&DSWXUHB
%\9DOKZQG$V/RQJ $V/RQJ
7KHVLQJOHSDUDPHWHURIWKH6HW&DSWXUHIXQFWLRQLV KZQG
7KHZLQGRZKDQGOHRIWKHZLQGRZWKDWVKRXOGUHFHLYHDOOPRXVHLQSXW
7KLVIXQFWLRQZLOOUHWXUQWKHZLQGRZKDQGOHRIWKHZLQGRZWKDWSUHYLRXVO\KDGWKHPRXVH
FDSWXUH,IQRZLQGRZKDGWKHPRXVHFDSWXUHLWUHWXUQVD18//7KLVIXQFWLRQFDQQRWVHWWKH
PRXVHFDSWXUHIRUDZLQGRZWKDWUHVLGHVLQDGLIIHUHQWWKUHDG
WKLVIXQFWLRQLVVXFFHVVIXOO\FDOOHGWKHPHQXKRWNH\VDQGNH\ERDUGDFFHOHUDWRUVZLOOQRWZRUN
XQWLOWKHPRXVHFDSWXUHLVUHOHDVHG7KLVLVVRWKDWWKRVHRSHUDWLRQVXVLQJ6HW&DSWXUHVXFK
DVGUDZLQJDQGGUDJDQGGURSZLOOQRWEHLQWHUUXSWHG
7KH*HW&DSWXUHIXQFWLRQGHWHUPLQHVLIDZLQGRZFXUUHQWO\KDVWKHPRXVHFDSWXUH7KLV
IXQFWLRQLVGHFODUHGLQ9%LQWKLVPDQQHU
3ULYDWH'HFODUH)XQFWLRQ*HW&DSWXUH/LEXVHU$OLDV*HW&DSWXUH $V/RQJ
7KLVIXQFWLRQWDNHVQRSDUDPHWHUVDQGUHWXUQVWKHZLQGRZKDQGOHRIWKHZLQGRZWKDWFXUUHQWO\
KDVWKHPRXVHFDSWXUH,IQRZLQGRZKDVWKHPRXVHFDSWXUHLWUHWXUQVD18//
WRXVH5HOHDVH&DSWXUH7KLVIXQFWLRQLVGHFODUHGLQ9%LQWKLVPDQQHU
3ULYDWH'HFODUH)XQFWLRQ5HOHDVH&DSWXUH/LEXVHU$OLDV5HOHDVH&DSWXUH $V/RQJ 7KLVIXQFWLRQWDNHVQRSDUDPHWHUVDQGUHWXUQVDQRQ]HURYDOXHLIWKHIXQFWLRQVXFFHHGVLQ
UHOHDVLQJWKHPRXVHFDSWXUHRQWKHZLQGRZRUD]HURLIWKHIXQFWLRQIDLOV7KLVIXQFWLRQ
FDQQRWUHOHDVHWKHPRXVHFDSWXUHIRUDZLQGRZLQDGLIIHUHQWWKUHDGRQO\IRUZLQGRZVZLWKLQ
WKHWKUHDGLQZKLFKWKLVIXQFWLRQZDVFDOOHG7KHVHFRQGZD\LVWRFDOO6HW&DSWXUHDVHFRQG
WLPH7KLVZLOOFDXVHWKHZLQGRZWKDWFXUUHQWO\KDVWKHPRXVHLQSXWWRORVHLWDQGWKHQVHWWKH
PRXVHFDSWXUHWRWKHZLQGRZVSHFLILHGLQWKHKZQGSDUDPHWHURI6HW&DSWXUH7KHWKLUGDQG
ILQDOZD\LVWRFOLFNDZLQGRZWKDWGRHVQRWKDYHWKHPRXVHFDSWXUH7KLVZLOOFDXVHDQ\
ZLQGRZWKDWKDVWKHPRXVHFDSWXUHWRORVHLW
7RJHWDEHWWHUXQGHUVWDQGLQJRIPRXVHFDSWXUHFRQVLGHUWKHIROORZLQJH[DPSOH$XVHUFOLFNV
DQGGUDJVDQLWHPIURPRQHZLQGRZWRDVHFRQGZLQGRZ7KHXVHUPXVWILUVWFOLFNWKHLWHPLQ
WKHILUVWZLQGRZDQGGUDJLWZKLOHKROGLQJWKHPRXVHGRZQWRWKHVHFRQGZLQGRZ$IWHUWKH
LWHPLVRYHUWKHVHFRQGZLQGRZWKHXVHUFDQUHOHDVHWKHPRXVHEXWWRQWRGURSWKHLWHPRQWR
WKHVHFRQGZLQGRZ'XULQJWKLVSURFHVVWKHXVHUFOLFNVDQGKROGVGRZQWKHPRXVHEXWWRQ
ZKLOHRYHUWKHLWHPLQWKHILUVWZLQGRZ$WWKLVSRLQWWKH6HW&DSWXUHIXQFWLRQVKRXOGEHFDOOHG
SDVVLQJWRLWWKHKDQGOHRIWKHILUVWZLQGRZ9%GRHVWKLVDXWRPDWLFDOO\IRUXVZKLOH\RXPXVW
GRLWPDQXDOO\LQ9LVXDO&1RZWKDW\RXKDYHVHWWKHPRXVHFDSWXUHWRWKHILUVWZLQGRZ
WKHV\VWHPZLOOVHQGDOOPRXVHPHVVDJHVWRWKHILUVWZLQGRZHYHQWKRXJKWKHXVHUPRYHVWKH
PRXVHRYHUWKHVHFRQGZLQGRZ7KLVDOORZVWKHILUVWZLQGRZWRNQRZZKHUHWKHXVHULVJRLQJ
WRGURSWKHLWHPEHFDXVHWKHV\VWHPLVVWLOOGLUHFWLQJPRXVHPRYHDQGPRXVHFOLFNPHVVDJHV
WRWKHILUVWZLQGRZ7KLVDOVRDOORZVWKHILUVWZLQGRZWRGHILQHWKHPRXVHFXUVRUVKDSHDWD
V\VWHPZLGHOHYHORYHUULGLQJDQ\PRXVHFXUVRUVKDSHVVHWDWWKHWKUHDGOHYHO:KHQWKHXVHU
GHFLGHVWRGURSWKHLWHPRQWRWKHVHFRQGZLQGRZDQGUHOHDVHVWKHPRXVHEXWWRQWZR
LQWHUHVWLQJWKLQJVKDSSHQ)LUVWWKHV\VWHPVHQGVWKHPRXVHEXWWRQXSPHVVDJHWRWKHILUVW
ZLQGRZ1H[WLWUHOHDVHVWKHPRXVHFDSWXUHIURPWKHILUVWZLQGRZDWWKLVSRLQWQRZLQGRZ
ZLOOKDYHWKHPRXVHFDSWXUHXQOHVVDQRWKHUFDOOLVPDGHWR6HW&DSWXUH$OOPRXVHPHVVDJHV
DUHQRZGLUHFWHGWRWKHZLQGRZWKDWWKHPRXVHSRLQWHULVGLUHFWO\RYHU
0RXVH&OLFN0HVVDJHV
:KHQDXVHUVLQJOHFOLFNVWKHOHIWPRXVHEXWWRQRQDZLQGRZWKHV\VWHPVHQGVWKHIROORZLQJ
VHULHVRIPRXVHPHVVDJHV :0B/%87721'2:1 :0B/%8772183
:KHQDXVHUGRXEOHFOLFNVWKHOHIWPRXVHEXWWRQRQDZLQGRZRQHRIWZRWKLQJVFDQKDSSHQ
7KHILUVWRFFXUVLIDOOWKUHHRIWKHIROORZLQJFRQGLWLRQVDUHPHW 7KH&6B'%/&/.6FODVVVW\OHLVVHW
7KHVHFRQGFOLFNKDSSHQHGZLWKLQDVHWVSDFHDURXQGWKHFXUVRUKRWVSRW7KLVVHW VSDFHLVGHILQHGE\DUHFWDQJOHZLWKGLPHQVLRQVWKDW\RXFDQREWDLQWKURXJK
*HW6\VWHP0HWULFVDQGE\XVLQJWKH60B&;'28%/(&/.DQG60B&<'28%/(&/.
IODJV
7KHVHFRQGFOLFNKDSSHQHGZLWKLQDVHWWLPHRIWKHILUVWFOLFN
IXQFWLRQZLWKWKH60B&<'28%/(&/.RU60B&;'28%/(&/.IODJV
,QWKLVFDVHWKHV\VWHPVHQGVWKHIROORZLQJVHULHVRIPRXVHPHVVDJHVWRWKHZLQGRZ
:0B/%87721'2:1 :0B/%8772183
:0B/%87721'%/&/.7KLVLVZKHUHWKHGRXEOHFOLFNRFFXUV :0B/%8772183
2WKHUZLVHLWVHQGVWKLVVHULHVRIPRXVHPHVVDJHVWRWKHZLQGRZ :0B/%87721'2:1 :0B/%8772183
:0B/%87721'2:11RGRXEOHFOLFNRFFXUVKHUH
:0B/%8772183
$V\RXFDQVHHLQWKHVHFRQGFDVHWKHV\VWHPVHQGVRQO\WKHPRXVHGRZQDQGPRXVHXS
PHVVDJHVRQFHIRUHDFKFOLFN2WKHUZLVHLWUHSODFHVWKHVHFRQG:0B/%87721'2:1
PHVVDJHZLWKD:0B/%87721'%/&/.PHVVDJH
'HVFULSWLRQRI+RRNV
G\QDPLFOLQNOLEUDU\'// DQGXVHLWDVDV\VWHPZLGHKRRN$WKUHDGVSHFLILFKRRNLQWHUFHSWV
DOOPHVVDJHVZLWKLQWKHWKUHDGLQZKLFKLWLVLQVWDOOHG:KHQ\RXLQVWDOODKRRNDVDV\VWHP
ZLGHKRRNLWKDVWREHSODFHGLQD'//7KLV'//LVLQMHFWHGLQWRHYHU\SURFHVVVRWKDWWKH
KRRNFDQRSHUDWHRQDOOPHVVDJHVLQWKHV\VWHP&KDSWHUSURYLGHVDWKRURXJKGLVFXVVLRQ RIWKLVFRQFHSW
7KH:+B0286(KRRNDOORZVXVWRRQO\ZDWFKRUGLVFDUGPRXVHPHVVDJHV
KRRNWRLQWHUFHSWPHVVDJHVIRUDVLQJOHWKUHDGRUIRUDOOUXQQLQJWKUHDGV7KLVKRRNSURYLGHVD
ODUJHDPRXQWRIFRQWURORYHUWKHPRXVHDQGWKHZD\WKHXVHULVDEOHWRXVHWKHPRXVH
7KHVHFRQGPRXVHKRRN:+B0286(B//ZDVLQWURGXFHGZLWK:LQGRZV176HUYLFH3DFN
DQGKLJKHU7KLVKRRNLVVLPLODUWRWKH:+B0286(KRRNH[FHSWWKDWLWLQWHUFHSWVPHVVDJHV
DWDPXFKHDUOLHUSRLQWLQWKH:LQGRZVPHVVDJLQJV\VWHP7KLVSURYLGHVH[WUDLQIRUPDWLRQ
DERXWPRXVHPHVVDJHVWKDWLVQRWDYDLODEOHWKURXJKWKH:+B0286(KRRN7DEOH GHVFULEHVWKHLQIRUPDWLRQWKDW\RXFDQREWDLQIURPHDFKW\SHRIPRXVHKRRN
7DEOH,QIRUPDWLRQ3URYLGHGE\:+B0286(DQG:+B0286(B//+RRNV :+B0286(
:+B0286(B//
&XUVRUFRRUGLQDWHV[\
&XUVRUFRRUGLQDWHV[\
([WUDLQIRUPDWLRQ
([WUDLQIRUPDWLRQ
0HVVDJH,'
0HVVDJH,'
06//+22.6758&7
0286(+22.6758&7
:LQGRZKZQG
1$
+LWWHVWYDOXH
1$
1$
0RXVHZKHHOGHOWD
1$
:KLFK;%87721ZDVSUHVVHG
1$
)ODJWRGHWHUPLQHLIWKHPHVVDJHZDVLQMHFWHG
1$
7LPHWKHPHVVDJHZDVVHQWWRWKHPHVVDJHTXHXH
7KH:+B0286(B//KRRNFDSWXUHVPHVVDJHVEHIRUHWKH\KDYHDFKDQFHWREHSRVWHGWRD
WKUHDG VPHVVDJHTXHXH8VLQJWKLVPRXVHKRRN\RXFDQFDSWXUHPHVVDJHVGHDOLQJZLWKWKH
PRXVHZKHHODQGWKH[PRXVHEXWWRQV
7KH:+B0286(B//KRRNLVDQLQWHUHVWLQJH[FHSWLRQEHFDXVH\RXFDQLQVWDOOLWRQO\DVD
V\VWHPZLGHKRRN$V,SUHYLRXVO\PHQWLRQHGV\VWHPZLGHKRRNVPXVWUHVLGHLQD'//
+RZHYHUWKLVKRRNDVZHOODVWKH:+B.(<%2$5'B//:+B-2851$/3/$<%$&.DQG
:+B-2851$/5(&25'KRRNVFDQUHVLGHHLWKHULQDQ(;(RU'//PRGXOH7KLVPHDQVWKDW
ZHFDQLPSOHPHQWWKHVHIRXUKRRNVZLWKLQ9%7KLVLVEHFDXVHWKHILOWHUIXQFWLRQVRIWKHVH
KRRNVDUHFDOOHGIURPZLWKLQWKHFRQWH[WRIWKHWKUHDGWKDWKDVLQVWDOOHGWKHVHW\SHVRIKRRNV
7RXQGHUVWDQGZK\WKHVHKRRNVFDQUHVLGHLQDQ(;(ZHQHHGWRXQGHUVWDQGKRZWKH\
PDQLSXODWHWKHPHVVDJHSURFHVVLQJRIHDFKWKUHDGUXQQLQJLQWKHV\VWHP1RUPDOO\HYHU\
WKUHDGKDVLWVRZQPHVVDJHTXHXHWRZKLFKLWLVFRQQHFWHG7KHVHPHVVDJHTXHXHVUHFHLYH
PHVVDJHVIURPWKHUDZLQSXWWKUHDG5,7 7KLVDUFKLWHFWXUHJLYHVDOOELW:LQGRZV
RSHUDWLQJV\VWHPVUREXVWPXOWLWKUHDGLQJFDSDELOLW\DQGSUHYHQWVRQHDSSOLFDWLRQIURPKDQJLQJ
WKHZKROHV\VWHP$VZHZLOOVHHKRZHYHULQVWDOOLQJWKH:+B0286(B//KRRNGHVWUR\VWKLV
RQHWRRQHUHODWLRQVKLSEHWZHHQDWKUHDGDQGLWVPHVVDJHTXHXH
,WLVSRVVLEOHWRIRUFHPXOWLSOHWKUHDGVWRUHFHLYHPHVVDJHVIURPDVLQJOHPHVVDJHTXHXH
9%DVIROORZV
3ULYDWH'HFODUH)XQFWLRQ$WWDFK7KUHDG,QSXW/LEXVHUB
$OLDV$WWDFK7KUHDG,QSXWB
,WVSDUDPHWHUVDUH LG$WWDFK
%\9DOLG$WWDFK$V/RQJB
%\9DOLG$WWDFK7R$V/RQJB?
%\9DOI$WWDFK$V/RQJ $V/RQJ
7KHWKUHDG,'RIWKHWKUHDGWREHDWWDFKHGWRDQRWKHUWKUHDG VPHVVDJHTXHXH
LG$WWDFK7R
7KHWKUHDG,'RIWKHWKUHDGFRQWDLQLQJWKHPHVVDJHTXHXHWRZKLFKWKHWKUHDG
I$WWDFK
VSHFLILHGE\LG$WWDFKLVDWWDFKHG
7UXHVSHFLILHVWRDWWDFKWKHWZRWKUHDGV)DOVHVSHFLILHVWRGHWDFKWKHWZRWKUHDGV
$UHWXUQYDOXHRI]HURLQGLFDWHVWKDWWKLVIXQFWLRQIDLOHGDQ\RWKHUYDOXHLQGLFDWHVVXFFHVV
1RWHWKDWDWKUHDGFDQQRWEHDWWDFKHGWRWKH5,7WRLWVHOIRUWRDWKUHDGLQDQRWKHUGHVNWRS
7KHPHVVDJHTXHXHXVHGE\WKHWKUHDGWKDWLG$WWDFKVSHFLILHVGRHVQRWUHFHLYHLQSXWDIWHU
WKLVWKUHDGLVDWWDFKHGWRWKHRWKHUPHVVDJHTXHXH
:KHQ\RXLQVWDOOD:+B0286(B//KRRNLQDWKUHDGWKHV\VWHPDWWDFKHVDOOWKUHDGVWRWKH
PHVVDJHTXHXHRIWKHWKUHDGWKDWLQVWDOOHGWKLVKRRN7KLVLVVLPLODUWRFDOOLQJ
$WWDFK7KUHDG,QSXWIRUHDFKWKUHDGDQGVHWWLQJWKHYDOXHRILG$WWDFKWRWKHWKUHDG,'IRUHDFK
LQGLYLGXDOWKUHDGDOZD\VVHWWLQJLG$WWDFK7RWRWKHWKUHDG,'RIWKHWKUHDGWKDWLQVWDOOHGWKH
MRXUQDOKRRNDQGDOZD\VVHWWLQJI$WWDFKWR7UXH7KHUHVXOWLVDVLQJOHPHVVDJHTXHXHIRUDOO
WKUHDGVLQWKHV\VWHP)LJXUHLOOXVWUDWHVWKLVFRQFHSW
)LJXUH7KUHDGVWDWHEHIRUHDQGDIWHUD:+B0286(B//KRRNLVLQVWDOOHG
%HFDXVHDVLQJOHPHVVDJHTXHXHLVIHHGLQJDOOWKUHDGVLQWKHV\VWHP\RXFDQFDOOWKHVH
KRRNVIURPZLWKLQWKHFRQWH[WRIWKHWKUHDGWKDWLQVWDOOHGWKHKRRNZKLFKLQRXUFDVHLVWKH
9%DSSOLFDWLRQ
2UGLQDULO\'//VDUHUHTXLUHGIRUV\VWHPZLGHKRRNVEHFDXVHHDFKWKUHDGKDVLWVRZQ
PHVVDJHTXHXH7KLV'//LVLQMHFWHGLQWRHYHU\SURFHVVVRWKDWWKHKRRNFDQRSHUDWHRQDOO
PHVVDJHVDQGRQDOOPHVVDJHTXHXHV LQWKHV\VWHP$Q(;(XQOLNHD'//FDQQRWEH
LQMHFWHGLQWRHYHU\SURFHVVDQGKHQFHFDQQRWRSHUDWHRQDOOPHVVDJHVZKHQWKHUHDUH
PXOWLSOHPHVVDJHTXHXHV2QWKHRWKHUKDQG\RXFDQLQVWDOO:+B0286(B//IRUDVLQJOH
WKUHDGDQGVWLOOUHFHLYHHYHU\PHVVDJHWKDWWKHV\VWHPJHQHUDWHVEHFDXVHWKHV\VWHPLV
IXQQHOLQJHYHU\PHVVDJHWKURXJKDVLQJOHPHVVDJHTXHXH
)LOWHU)XQFWLRQ'HILQLWLRQV
7KHILOWHUIXQFWLRQIRUHDFKKRRNLVVLPLODUH[FHSWIRUWKHO3DUDPSDUDPHWHU7KH:+B0286(
KRRNILOWHUIXQFWLRQSURWRW\SHLVDVIROORZV
3XEOLF)XQFWLRQ0RXVH3URF%\9DOX&RGH$V/RQJB
,WVSDUDPHWHUVDUH X&RGH
%\9DOZ3DUDP$V/RQJB
O3DUDP$V0286(+22.6758&7 $V/RQJ
7KHKRRNFRGHSDVVHGLQE\WKHV\VWHP
Z3DUDP O3DUDP
7KHPRXVHPHVVDJHLGHQWLILHU
$SRLQWHUWRWKH0286(+22.6758&7VWUXFWXUH
7KH0286(+22.6758&7VWUXFWXUHLVGHILQHGLQWKLVPDQQHU
3XEOLF7\SH0286(+22.6758&7 SW$V32,17$3, KZQG$V/RQJ
Z+LW7HVW&RGH$V/RQJ
GZ([WUD,QIR$V/RQJ (QG7\SH
7KHPHPEHUVRIWKH0286(+22.6758&7VWUXFWXUHDUH SW
KZQG
7KH[DQG\FRRUGLQDWHVRIWKHPRXVHSRLQWHU 7KHKDQGOHRIWKHZLQGRZWKDWWKHPRXVHSRLQWHUZDVRYHUZKHQWKHPRXVHPHVVDJH
ZDVILUHG
Z+LW7HVW&RGH
7KHKLWWHVWFRGHGHWDLOLQJWKHQRQFOLHQWDUHDRIWKHZLQGRZWKDWWKHPRXVHFXUVRULV
RYHU
GZ([WUD,QIR
([WUDLQIRUPDWLRQ
,I\RXDUHUXQQLQJ:LQGRZVRUKLJKHUO3DUDPLQVWHDGSRLQWVWRWKH
0286(+22.6758&7(;VWUXFWXUHDVWUXFWXUHWKDW:LQGRZV[DQG:LQGRZV17GRQRW VXSSRUW7KLVVWUXFWXUHLVGHILQHGDVIROORZV
3XEOLF7\SH0286(+22.6758&7(;
VWUXFW0RXVH+RRN$V0286(+22.6758&7
PRXVHGDWD$V/RQJ
(QG7\SH
7KHPHPEHUVRI0286(+22.6758&7(;DUH VWUXFW0RXVH+RRN
$SRLQWHUWRWKH0286(+22.6758&7VWUXFWXUH
PRXVHGDWD
$/RQJLQWHJHUWKDWFRQWDLQVPRXVHZKHHODQG[EXWWRQLQIRUPDWLRQLQWKHKLJKRUGHU
ZRUG7KHORZRUGHUZRUGLVUHVHUYHGIRUV\VWHPXVH
1HZHUPRXVHGHYLFHVLQFRUSRUDWHDPRXVHZKHHOWRDLGLQVFUROOLQJ,IWKH
0RXVH3URFILOWHUIXQFWLRQ VZ3DUDPSDUDPHWHUVSHFLILHVWKH:0B0286(:+((/
PHVVDJHWKHPRXVHGDWDPHPEHU VKLJKRUGHUZRUGFRQWDLQVWKHPRXVHZKHHOGHOWD
DSRVLWLYHYDOXHPHDQVWKDWWKHPRXVHZKHHOZDVUROOHGIRUZDUGDQHJDWLYHYDOXH
PHDQVWKDWLWZDVUROOHGEDFNZDUG
6RPHQHZHUPRXVHGHYLFHVDOVRLQFRUSRUDWHH[WUDEXWWRQVLQDGGLWLRQWRWKHOHIW
ULJKWDQGPLGGOHEXWWRQV7KHVHEXWWRQVDUHFDOOHG[EXWWRQV,IWKH0RXVH3URFILOWHU
IXQFWLRQ VZ3DUDPSDUDPHWHUVSHFLILHVWKDWDQ[EXWWRQZDVFOLFNHGWKHPRXVHGDWD PHPEHU VKLJKRUGHUZRUGGHWHUPLQHVZKHWKHUWKHILUVWRUVHFRQG[EXWWRQZDV
SUHVVHG7KHV\VWHPUHVHUYHVWKHORZRUGHUZRUGLQERWKFDVHV
7KHORZOHYHOPRXVHKRRNILOWHUIXQFWLRQSURWRW\SHLVDVIROORZV
3XEOLF)XQFWLRQ//0RXVH3URF%\9DOX&RGH$V/RQJB
,WVSDUDPHWHUVDUH X&RGH
%\9DOZ3DUDP$V/RQJB
O3DUDP$V06//+22.6758&7 $V/RQJ
7KHKRRNFRGHSDVVHGLQE\WKHV\VWHP
Z3DUDP O3DUDP
7KHPRXVHPHVVDJHLGHQWLILHU
$SRLQWHUWRWKH06//+22.6758&7VWUXFWXUH
7KH06//+22.6758&7VWUXFWXUHLVGHILQHGLQWKLVPDQQHU
3XEOLF7\SH06//+22.6758&7 SW$V32,17$3,
PRXVHGDWD$V/RQJ IODJV$V/RQJ
WLPH$V/RQJ
GZ([WUD,QIR$V/RQJ (QG7\SH
7KHPHPEHUVRIWKH06//+22.6758&7VWUXFWXUHDUH SW
7KH[DQG\FRRUGLQDWHVRIWKHPRXVHSRLQWHU
PRXVHGDWD
,IWKHZ3DUDPSDUDPHWHUVSHFLILHVWKH:0B0286(:+((/PHVVDJHWKLVPHPEHU V
KLJKRUGHUZRUGFRQWDLQVWKHPRXVHZKHHOGHOWDDSRVLWLYHYDOXHPHDQVWKDWWKH
PRXVHZKHHOZDVUROOHGIRUZDUGDQHJDWLYHYDOXHPHDQVWKDWLWZDVUROOHG
EDFNZDUG ,IWKHZ3DUDPSDUDPHWHUVSHFLILHVWKDWDQ[EXWWRQZDVFOLFNHGWKLV
PHPEHU VKLJKRUGHUZRUGGHWHUPLQHVZKHWKHUWKHILUVWRUVHFRQG[EXWWRQZDV
IODJV
SUHVVHG7KHV\VWHPUHVHUYHVWKHORZRUGHUZRUGLQERWKFDVHV
'HWHUPLQHVZKHWKHUWKHPHVVDJHZDVLQMHFWHG,I$1'LQJWKLVIODJZLWKUHVXOWVLQD
RU7UXHWKLVPHVVDJHZDVLQMHFWHGRWKHUZLVHWKHPHVVDJHZDVQRWLQMHFWHG
FDQLQMHFWDPRXVHPHVVDJHLQWRWKHPHVVDJLQJV\VWHPE\XVLQJWKH6HQG,QSXW
WLPH
IXQFWLRQGHILQHGLQ&KDSWHU
7KHWLPHWKDWWKLVPHVVDJHZDVSRVWHGWRWKHPHVVDJHTXHXH
GZ([WUD,QIR
([WUDLQIRUPDWLRQ
$V\RXFDQVHHWKHPDLQGLIIHUHQFHVEHWZHHQWKHVHWZRIXQFWLRQSURWRW\SHVLVWKHVWUXFWXUH
WKDWO3DUDPSRLQWVWR
([SODQDWLRQRI+RRN&RGHV 7KHV\VWHPVHQGVWZRFRGHVWRWKHX&RGHSDUDPHWHURIWKHPRXVHKRRN VILOWHUIXQFWLRQ
7KHVHFRGHVDUH+&B$&7,21DQG+&B125(029(7KH:+B0286(B//KRRNGRHVQRW
XVHWKH+&B125(029(FRGHEHFDXVHWKHPRXVHPHVVDJHKDVQRW\HWEHHQSODFHGLQWKH
PHVVDJHTXHXH7KHPHDQLQJRIWKHFRGHVLVDVIROORZV HC_ACTION
7KHZ3DUDPDQGO3DUDPSDUDPHWHUVFRQWDLQLQIRUPDWLRQDERXWPRXVHPHVVDJHV
WKDWKDYHEHHQUHPRYHGIURPWKHPHVVDJHTXHXHXVLQJ*HW0HVVDJH HC_NOREMOVE
7KHZ3DUDPDQGO3DUDPSDUDPHWHUVFRQWDLQLQIRUPDWLRQDERXWPRXVHPHVVDJHV WKDWKDYHEHHQUHDGEXWQRWUHPRYHGIURPWKHPHVVDJHTXHXHXVLQJ 3HHN0HVVDJH
/RFDWLRQRI7KLV+RRNLQWKH6\VWHP 7KH:+B0286(KRRNLVFDOOHGLQDWKUHDG VPHVVDJHORRSDV)LJXUHVKRZV7KLV
KRRNLVORFDWHGLQVLGHWKH*HW0HVVDJHDQG3HHN0HVVDJHIXQFWLRQV7KHUHIRUHLIWKHKRRN
UHWXUQVDWKHPHVVDJHLVGLVFDUGHGLQVLGHWKH*HW0HVVDJHRU3HHN0HVVDJHIXQFWLRQDQG
WKHUHVWRIWKHPHVVDJHORRSGRHVQRWSURFHVVLW
)LJXUH7KHORFDWLRQRIWKH:+B0286(DQG:+B0286(B//KRRNV
7KH:+B0286(B//KRRNLVORFDWHGLPPHGLDWHO\EHIRUHDPHVVDJHLVSODFHGLQWRWKH
PHVVDJHTXHXHRIWKHWKUHDGWKDWLQVWDOOHGWKHKRRN5HPHPEHUWKDWDOOPHVVDJHTXHXHVDUH
DWWDFKHGWRWKHPHVVDJHORRSRIWKLVWKUHDG)LJXUHLOOXVWUDWHVWKHORFDWLRQRIWKLVKRRN
$6LQJOH7KUHDG([DPSOH 7KHH[DPSOHSUHVHQWHGKHUHLVVLPSOHLQVWUXFWXUHLWZDWFKHVIRUDOOPRXVHPHVVDJHVDQG
GLVSOD\VHDFKPHVVDJHLQWKHWH[WER[)LJXUHVKRZVDVFUHHQVKRWRIWKLVDSSOLFDWLRQ 7RXVHWKLVDSSOLFDWLRQVLPSO\FOLFNWKHKRRNEXWWRQFRQWDLQHGLQWKH0286(IUDPH7KLVZLOO
LQVWDOOWKH:+B0286(KRRNDQGVWDUWGLVSOD\LQJWKHPRXVHPHVVDJHVLQWKHWH[WER[7KH WH[WER[ZLOOILOOXSUDWKHUTXLFNO\DVWKHPRXVHPHVVDJHVDUHILUHGHYHQWKRXJKWKHPRXVH
PXVWEHZLWKLQWKHERUGHUVRIWKHZLQGRZIRUWKLVKRRNWRFDSWXUHDPRXVHPHVVDJH$
V\VWHPZLGHPRXVHKRRNZLOOFDWFKDOOPRXVHPHVVDJHVIRUDOOZLQGRZVWKDWDUHYLVLEOHRQ WKHVFUHHQLQFOXGLQJWKHGHVNWRSKDGZHLPSOHPHQWHGLWRXWSXWIURPWKLVKRRNWRWKHWH[W ER[ZRXOGKDYHEHHQFRPSOHWHO\RYHUZKHOPLQJ
)LJXUH$VFUHHQVKRWRIWKHVLQJOHWKUHDGHGPRXVHKRRNDSSOLFDWLRQ
7DEOHSUHVHQWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV 7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW7\SH
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
1DPH
)RUP
)RUP
&DSWLRQ
:+B0286(+RRN'HPR
)RUP
7RS
)RUP
/HIW
)RUP
+HLJKW
)RUP
:LGWK
)UDPH
&DSWLRQ
0286(
)UDPH
1DPH
)UDPH
)UDPH
7RS
)UDPH
/HIW
)UDPH
+HLJKW
)UDPH
:LGWK
7H[W%R[
0XOWL/LQH
7UXH
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG+RRN
&RPPDQG%XWWRQ
&DSWLRQ
KRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG8Q+RRN
&RPPDQG%XWWRQ
&DSWLRQ
XQKRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
%HIRUHFORVLQJWKLVDSSOLFDWLRQ\RXPXVWFOLFNWKHXQKRRNEXWWRQWRUHPRYHWKH:+B0286(
KRRN,IDKRRNLVQRWUHPRYHGSURSHUO\LWZLOOFUDVKWKHDSSOLFDWLRQDVLWLVVKXWWLQJGRZQ
7KH6HW0RXVH+RRNIXQFWLRQZKLFKLVVKRZQLQ([DPSOHLQVWDOOVWKHWKUHDGVSHFLILF :+B0286(KRRNXVLQJWKH6HW:LQGRZV+RRN([IXQFWLRQ
([DPSOH7KH6HW0RXVH+RRN)XQFWLRQ 3XEOLF6XE6HW0RXVH+RRN ,I,V+RRNHG7KHQ
0VJ%R['RQ WKRRNWKH0286(WZLFHRU\RXZLOOEHXQDEOHWRXQKRRNLW
(OVH
OS3UHY:QG3URF 6HW:LQGRZV+RRN([:+B0286(B
,V+RRNHG 7UXH
$GGUHVV2I0RXVH3URFB $SS7KUHDG,'
(QG,I
(QG6XE
7KH5HPRYH0RXVH+RRNIXQFWLRQZKLFKLVVKRZQLQ([DPSOHXVHVWKH 8QKRRN:LQGRZV+RRN([IXQFWLRQWRUHPRYHWKH:+B0286(KRRN
([DPSOH7KH5HPRYH0RXVH+RRN)XQFWLRQ 3XEOLF6XE5HPRYH0RXVH+RRN 'LPWHPS$V/RQJ
WHPS 8QKRRN:LQGRZV+RRN([OS3UHY:QG3URF
,V+RRNHG )DOVH
(QG6XE
)LQDOO\WKH0RXVH3URFIXQFWLRQVKRZQLQ([DPSOHVHUYHVDVWKHILOWHUIXQFWLRQ ([DPSOH7KH0RXVH3URF)XQFWLRQ 3XEOLF)XQFWLRQ0RXVH3URF%\9DOX&RGH$V/RQJB
%\9DOZ3DUDP$V/RQJB
,IX&RGH7KHQ
O3DUDP$V0286(+22.6758&7 $V/RQJ
0RXVH3URF &DOO1H[W+RRN([OS3UHY:QG3URFX&RGHZ3DUDPO3DUDP
(OVH
6HOHFW&DVHX&RGH
&DVH+&B$&7,21
)RUP7H[W7H[W )RUP7H[W7H[W +&B$&7,2106* Z3DUDPB
+:1' O3DUDPKZQGB
+,7B7(67B&2'(
(;75$B,1)2
37 &6WUO3DUDPSW\
O3DUDPZ+LW7HVW&RGHB O3DUDPGZ([WUD,QIRB
YE1HZ/LQH
&DVH+&B125(029(
)RUP7H[W7H[W )RUP7H[W7H[W +&B125(029(06* Z3DUDPB
+:1' O3DUDPKZQGB
+,7B7(67B&2'(
(;75$B,1)2
37 &6WUO3DUDPSW\
O3DUDPZ+LW7HVW&RGHB O3DUDPGZ([WUD,QIRB
YE1HZ/LQH
&DVH(OVH (QG6HOHFW
0RXVH3URF &DOO1H[W+RRN([OS3UHY:QG3URFX&RGHZ3DUDPO3DUDP
(QG,I
(QG)XQFWLRQ
$VZLWKDOOILOWHUIXQFWLRQVZKHQWKHX&RGHSDUDPHWHULVOHVVWKDQ\RXVKRXOGVNLSWKH
IXQFWLRQ VFRGHDQGFDOO&DOO1H[W+RRN([LPPHGLDWHO\:KHQX&RGHLVHTXDOWR+&B$&7,21
RU+&B125(029(WKLVFRGHDORQJZLWKVHYHUDORWKHUSDUDPHWHUVLVZULWWHQWRWKHWH[WER[
)LQDOO\WRDOORZRWKHUKRRNVLQWKLVFKDLQWREHFDOOHGWKH&DOO1H[W+RRN([IXQFWLRQLVFDOOHG
$QLQWHUHVWLQJWKLQJKDSSHQVZKHQ\RXUXQWKLVDSSOLFDWLRQIURPZLWKLQWKH9%,'(DV
RSSRVHGWRDVWUDLJKW(;(:KHQ\RXUXQLWLQWKH,'(WKHRXWSXWWKDWLVGLVSOD\HGLQWKHWH[W
ER[LVVLPLODUWRWKHIROORZLQJ
+&B125(029(06*+:1'+,7B7(67B&2'((;75$B,1)2
37
+&B$&7,2106*+:1'+,7B7(67B&2'((;75$B,1)237
+&B125(029(06*+:1'+,7B7(67B&2'((;75$B,1)2
37
+&B$&7,2106*+:1'+,7B7(67B&2'((;75$B,1)237
+&B125(029(06*+:1'+,7B7(67B&2'((;75$B,1)2
37
+&B$&7,2106*+:1'+,7B7(67B&2'((;75$B,1)237
7KHILUVWWKLQJ\RXPLJKWQRWLFHLVWKDWPHVVDJHVDUHFDSWXUHGZKHQWKHPRXVHLVRYHUQRW
RQO\WKHDSSOLFDWLRQEXWDOVRWKH,'(7KLVRFFXUVEHFDXVHWKHZLQGRZVRIWKH,'(DQGWKH
DSSOLFDWLRQDUHDOOZLWKLQWKHVDPHWKUHDGDQGWKHUHIRUHVKDUHWKHVDPHPHVVDJHTXHXHDQG
PRXVHKRRN8VLQJ6S\ZHFDQVHHWKDWWKH9%SURFHVVFRQWDLQVWZRWKUHDGVRQHRI
ZKLFKFRQWDLQVERWKWKH,'(DQGWKHUXQQLQJDSSOLFDWLRQ
7KHVHFRQGWKLQJ\RXPLJKWQRWLFHLVWKDWWKH+&B125(029(DQG+&B$&7,21FRGHVDUH
UHSHDWHGIRUHDFKPRXVHPHVVDJH7KLVRFFXUVEHFDXVHD3HHN0HVVDJHLVSHUIRUPHGRQWKH
PRXVHPHVVDJHLQWKHPHVVDJHTXHXHDQGWKHQWKHPRXVHPHVVDJHLVUHPRYHGXVLQJ
*HW0HVVDJH
:KHQ\RXUXQWKHRXWSXWDVDVWDQGDORQHH[HFXWDEOHLWLVVLPLODUWRWKHIROORZLQJ
+&B$&7,2106*+:1'+,7B7(67B&2'((;75$B,1)237
+&B$&7,2106*+:1'+,7B7(67B&2'((;75$B,1)237
+&B$&7,2106*+:1'+,7B7(67B&2'((;75$B,1)237
7KLVRXWSXWLVVRPHZKDWGLIIHUHQWIURPWKDWSURGXFHGE\UXQQLQJWKHFRGHLQWKH9LVXDO%DVLF
,'(,WGLVSOD\VRQO\RQHFRGHIRUHDFKPRXVHPHVVDJH,QWKLVLQVWDQFH3HHN0HVVDJHLVQRW
FDOOHGIRUPRXVHPHVVDJHVSODFHGRQWKHPHVVDJHTXHXH
$6\VWHP:LGH+RRN([DPSOH ,I\RXLQVWDOOHGWKH:+B0286(KRRNDVDV\VWHPZLGHKRRN\RXZRXOGQHHGWRFUHDWHD
:LQ'//WRKRXVHWKHILOWHUIXQFWLRQDVZHOODVWKHFRGHUHTXLUHGWRLQVWDOODQGUHPRYHWKH
KRRN7KLVLVEHFDXVHDV\VWHPZLGHKRRNPXVWEHSODFHGLQD'//DQG9%FDQQRWFUHDWH
WUXH:LQ'//V7KHV\VWHPLQMHFWVWKLV'//LQWRHYHU\SURFHVV7KHUHIRUHDQ\SURFHVVFDQ
FDOORXUKRRNIXQFWLRQ
7KH'//FRQWDLQVWZRH[SRUWHGIXQFWLRQV,QVWDOO)LOWHU'//DQG8Q,QVWDOO)LOWHU'//DVZHOODV
WKHILOWHUIXQFWLRQ0RXVH)XQF([DPSOHVKRZVWKHFRGHDGGHGWRWKH0DLQ+RRNK
KHDGHUILOH7KHILUVWOLQHGHILQHVWKH0RXVH)XQFILOWHUIXQFWLRQDVW\SH&$//%$&.7KHUHVW
RIWKHFRGHGHILQHVWKHWZRH[SRUWHGIXQFWLRQVDV0$,1+22.B$3,0$,1+22.B$3,LVLQ
WXUQGHILQHGDVBBGHFGOVSHFGOOH[SRUW
([DPSOH7KH0DLQ+RRNK+HDGHU)LOH
GHILQH0$,1+22.B$3,BBGHFOVSHFGOOH[SRUW
GHILQH&&219BVWGFDOO GHILQH120$1*/(
'HILQH VDQG6WUXFWXUHXVHGE\:+B.(<%2$5'B//
GHILQH:+B0286(
GHILQH+&B$&7,21
W\SHGHIVWUXFWWDJ0286(+22.6758&7^
32,17SW
+:1'KZQG
8,17Z+LW7HVW&RGH
':25'GZ([WUD,QIR
`0286(+22.6758&7)$5 /30286(+22.6758&7 30286(+22.6758&7
)XQFWLRQGHFODUDWLRQV
/5(68/7&$//%$&.0RXVH)XQFLQWQ&RGH:3$5$0Z3DUDP/3$5$0O3DUDP
7KHVHFODVVHVDUHH[SRUWHGIURPWKH0DLQ+RRNGOO
LIGHIBBFSOXVSOXV H[WHUQ&^ HQGLI
0$,1+22.B$3,LQW,QVWDOO)LOWHU'//YRLG
0$,1+22.B$3,LQW8Q,QVWDOO)LOWHU'//YRLG LIGHIBBFSOXVSOXV `
HQGLI
([DPSOHVKRZVWKH0DLQ+RRNFSSILOH
([DPSOH7KH0DLQ+RRNFSS6RXUFH)LOH LQFOXGHVWGDI[K
LQFOXGH0DLQ+RRNK
LQFOXGH:,186(5+FRQWDLQVDOOWKHVHFRQVWDQWVVWUXFWVHWF
*OREDO9DULDEOHV
+$1'/( K,QVWDQFH
++22. KKRRN+RRNV
*OREDOLQVWDQFHKDQGOHIRU
+RRNKDQGOH
'//&RGH
%22/$3,(175<'OO0DLQ+$1'/(K0RGXOH
':25'XOBUHDVRQBIRUBFDOO /392,'OS5HVHUYHG
K,QVWDQFH K0RGXOH
VZLWFKXOBUHDVRQBIRUBFDOO
^
`
^
FDVH'//B352&(66B$77$&+
FDVH'//B7+5($'B$77$&+
FDVH'//B7+5($'B'(7$&+
FDVH'//B352&(66B'(7$&+
EUHDN
UHWXUQ758( `
7KHVDUHWKHH[SRUWHGIXQFWLRQV
0$,1+22.B$3,LQW,QVWDOO)LOWHU'//YRLG ^
KKRRN+RRNV 6HW:LQGRZV+RRN([:+B0286(+22.352& 0RXVH)XQF
+,167$1&( K,QVWDQFH UHWXUQ `
0$,1+22.B$3,LQW8Q,QVWDOO)LOWHU'//YRLG ^
8QKRRN:LQGRZV+RRN([KKRRN+RRNV
UHWXUQ
'//
`
)LOWHUIXQFWLRQIRU:+B0286(
/5(68/7&$//%$&.0RXVH)XQFLQWQ&RGH:3$5$0Z3DUDP/3$5$0O3DUDP
^
`
3DVVDOOPHVVDJHVRQWRWKHQH[WKRRNLQWKHFKDLQ
UHWXUQ&DOO1H[W+RRN([KKRRN+RRNVQ&RGHZ3DUDPO3DUDP
0DLQ+RRNFSSLQ([DPSOHEHJLQVE\GHFODULQJWZRJOREDOYDULDEOHVK,QVWDQFHDQG
KKRRN+RRNV7KHVHYDULDEOHVDUHJOREDOWRWKLV'//DQGQRWWRDOO'//V7RVKDUHYDULDEOHV
EHWZHHQDOOLQVWDQFHVRID'//\RXPXVWGHFODUHWKHYDULDEOHLQDSUDJPDGDWDBVHJFRGH
EORFNVLPLODUWRWKHIROORZLQJ
SUDJPDGDWDBVHJ'//6+$5(
+:1'KZQG0DLQ 18//
SUDJPDGDWDBVHJ
7KLVFDXVHVDVLQJOHKZQG0DLQYDULDEOHWREHVKDUHGDFURVVDOOLQVWDQFHVRIWKLV'//)RUWKLV
DSSOLFDWLRQWKHUHDUHWZRJOREDOYDULDEOHVDQGQRYDULDEOHVDUHVKDUHGDFURVV'//LQVWDQFHV
7KHVHDUHWKHRQO\WZRJOREDOYDULDEOHVWKDWQHHGWREHGHILQHG
+$1'/(K,QVWDQFH*OREDOLQVWDQFHKDQGOHIRU'//
++22.KKRRN+RRNV+RRNKDQGOH
7KHK,QVWDQFHYDULDEOHFRQWDLQVWKHLQVWDQFHRUPRGXOHKDQGOHIRUWKH'//7KLVYDOXHLV
SDVVHGLQWR'OO0DLQWKH'// VHQWU\SRLQWDVWKHILUVWSDUDPHWHU:HVLPSO\QHHGWRDGG
WKHIROORZLQJFRGHWRWKH'OO0DLQIXQFWLRQ
K,QVWDQFH K0RGXOH
7KHVHFRQGJOREDOYDULDEOHLVKKRRN+RRNV7KLVYDULDEOHFRQWDLQVWKHKDQGOHWRWKHLQVWDOOHG
KRRNZKLFKLVSDVVHGEDFNIURPWKH6HW:LQGRZV+RRN([IXQFWLRQ$VDQRWHQHYHUVKDUHWKH
KRRNKDQGOHDFURVV'//LQVWDQFHV(DFK'//ZLOOFDOOLWVRZQ,QVWDOO)LOWHU'//IXQFWLRQDQG
REWDLQDXQLTXHKRRNKDQGOH8VLQJDVLQJOHKRRNKDQGOHDFURVVDOO'//LQVWDQFHVZLOOFDXVH
DVHULRXVSUREOHPIRUUXQQLQJDSSOLFDWLRQVLQWRZKLFK\RXKDYHLQMHFWHGWKLV'//
7KHUHDUHWKUHHPDLQIXQFWLRQVLQWKH'//([DPSOHVKRZVWKHVRXUFHFRGHIRUDOO WKUHH7KHILUVWLV,QVWDOO)LOWHU'//ZKLFKLQVWDOOVWKHPRXVHKRRN7KLVIXQFWLRQLVH[SRUWHG
IURPWKH'//7KHVHFRQGIXQFWLRQLV8Q,QVWDOO)LOWHU'//ZKLFKUHPRYHVWKHKRRN7KLV
IXQFWLRQLVDOVRH[SRUWHG7KHWKLUGIXQFWLRQLV0RXVH)XQFZKLFKLVWKHILOWHUIXQFWLRQIRUWKH
PRXVHKRRN,QVWHDGRIEHLQJH[SRUWHGWKLVIXQFWLRQLVGHILQHGDVDFDOOEDFNURXWLQH7KH IXQFWLRQDOLW\ZLWKLQWKLVILOWHUIXQFWLRQLVVLPLODUWRWKHWKUHDGVSHFLILFILOWHUIXQFWLRQLQ
([DPSOH
1RZWKDWZHKDYHRXU'//ZHQHHGWRFDOOWKH,QVWDOO)LOWHU'//IXQFWLRQWRLQVWDOOWKLVKRRN7R
GRWKLVVLPSO\FUHDWHD9%(;(ZLWKRQHIRUP3ODFHWZRFRPPDQGEXWWRQVRQWKHIRUPDQG
SODFHWKHFRGHVKRZQLQ([DPSOHLQWRWKH)RUPIUPPRGXOH
7KHWZRIXQFWLRQVH[SRUWHGIURPRXU'//,QVWDOO)LOWHU'//DQG8Q,QVWDOO)LOWHU'//DUH
GHFODUHGILUVW7KH+RRNEXWWRQVLPSO\FDOOV,QVWDOO)LOWHU'//DQGWKH8QKRRNEXWWRQFDOOV
8Q,QVWDOO)LOWHU'//1RWKLQJHOVHRILPSRUWDQFHKDSSHQVLQWKH9%FRGH ([DPSOH9%)RUPIUP&RGHIRUD6\VWHP:LGH0RXVH+RRN 3ULYDWH'HFODUH)XQFWLRQ,QVWDOO)LOWHU'///LE0DLQ+RRN'OO $V/RQJ
3ULYDWH'HFODUH)XQFWLRQ8Q,QVWDOO)LOWHU'///LE0DLQ+RRN'OO $V/RQJ
3XEOLF6XE&RPPDQGB&OLFN
'LPO5HW9DO$V/RQJ
O5HW9DO ,QVWDOO)LOWHU'//
,IO5HW9DO!7KHQ
0VJ%R[(UURU,QVWDOOLQJPRXVH+RRN
(QG,I
(QG6XE
3XEOLF6XE&RPPDQGB&OLFN
'LPO5HW9DO$V/RQJ
O5HW9DO 8Q,QVWDOO)LOWHU'//
,IO5HW9DO!7KHQ
0VJ%R[(UURUUHPRYLQJPRXVH+RRN
(QG,I
(QG6XE
/RZ/HYHO0RXVH+RRN([DPSOH 7KLVH[DPSOHGHVFULEHVKRZWRXVHWKH:+B0286(B//KRRNLQDSXUH9%DSSOLFDWLRQ
GRQRWKDYHWRXVHDQ\&FRGHWRLQVWDOODQGXVHWKLVKRRN,QIDFWLQPDQ\LQVWDQFHV\RX
FDQVXEVWLWXWHWKLVKRRNIRUDV\VWHPZLGH:+B0286(KRRNWKLVZD\\RXGRQRWKDYHWR
XVHDQ\ODQJXDJHRWKHUWKDQ9%)LJXUHVKRZVWKHKRRNLQJDSSOLFDWLRQ
)LJXUH$VFUHHQVKRWRIWKHORZOHYHOPRXVHKRRNDSSOLFDWLRQ
7DEOHSUHVHQWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV 7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW7\SH
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
1DPH
)RUP
)RUP
&DSWLRQ
:+B0286(B//+RRN'HPR
)RUP
7RS
)RUP
/HIW
)RUP
+HLJKW
)RUP
:LGWK
)UDPH
&DSWLRQ
0286(B//
)UDPH
1DPH
)UDPH
)UDPH
7RS
)UDPH
/HIW
)UDPH
+HLJKW
)UDPH
:LGWK
)UDPH
&DSWLRQ
0RXVH&RRUGLQDWHV
)UDPH
1DPH
)UDPH
)UDPH
7RS
)UDPH
/HIW
)UDPH
+HLJKW
)UDPH
:LGWK
)UDPH
&DSWLRQ
0RXVH:KHHO5RWDWLRQ
)UDPH
1DPH
)UDPH
)UDPH
7RS
)UDPH
/HIW
)UDPH
+HLJKW
)UDPH
:LGWK
)UDPH
&DSWLRQ
0RXVH;%XWWRQ,QIRUPDWLRQ
)UDPH
1DPH
)UDPH
)UDPH
7RS
)UDPH
/HIW
)UDPH
+HLJKW
)UDPH
:LGWK
7H[W%R[
0XOWL/LQH
7UXH
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG+RRN
&RPPDQG%XWWRQ
&DSWLRQ
KRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG8Q+RRN
&RPPDQG%XWWRQ
&DSWLRQ
XQKRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
/DEHO
1DPH
OEO%WWQ,QIR
/DEHO
&DSWLRQ
/DEHO
7RS
/DEHO
/HIW
/DEHO
+HLJKW
/DEHO
:LGWK
/DEHO
1DPH
OEOZKHHO,QIR
/DEHO
&DSWLRQ
/DEHO
7RS
/DEHO
/HIW
/DEHO
+HLJKW
/DEHO
:LGWK
/DEHO
1DPH
OEO;
/DEHO
&DSWLRQ
;
/DEHO
7RS
/DEHO
/HIW
/DEHO
+HLJKW
/DEHO
:LGWK
/DEHO
1DPH
OEO<
/DEHO
&DSWLRQ
<
/DEHO
7RS
/DEHO
/HIW
/DEHO
+HLJKW
/DEHO
:LGWK
7RXVHWKLVDSSOLFDWLRQFOLFNWKHKRRNEXWWRQLQWKH0286(B//IUDPHFRQWURO7KLVZLOOLQVWDOO
WKHKRRNDQGLPPHGLDWHO\VWDUWGLVSOD\LQJPRXVHPHVVDJHVZKHQWKHV\VWHPUHFHLYHVWKHP
HYHQWKRXJK\RXLQVWDOOHGWKHKRRNLQDQ(;(
7KHV\VWHPFDSWXUHVWKHPRXVHSRLQWHU VFRRUGLQDWHVDQGSODFHVWKHPLQWKH0RXVH
&RRUGLQDWHVIUDPHFRQWURO7KH0RXVH:KHHO5RWDWLRQIUDPHFRQWUROGHVFULEHVDQ\
PRYHPHQWVRIWKHPRXVHZKHHO(YHU\WLPHWKHPRXVHZKHHOLVPRYHGIRUZDUGRUEDFNZDUG
WKHGLUHFWLRQRIWKHPRYHPHQWLVSODFHGLQWKLVIUDPH$VDQRWHRQH:0B0286(:+((/
PHVVDJHFDUULHVWKHLQIRUPDWLRQWRGHVFULEHWKHGLUHFWLRQRIWKHPRXVHZKHHODQGWKLV
PHVVDJHDOVRLVFRQVLGHUHGRQHFKDQJHLQWKHZKHHOURWDWLRQRUZKHHOGHOWDDVLWLV
FRPPRQO\UHIHUUHGWR$ZKHHOGHOWDLVGHILQHGLQFRGHDV:+((/B'(/7$ZKLFKLVD
FRQVWDQWHTXDOWR$Q\WLPHWKHXVHUFOLFNVRQHRIWKH[EXWWRQVRQWKHPRXVHWKH0RXVH
;%XWWRQ,QIRUPDWLRQIUDPHZLOOFRQWDLQWKHYDOXHRIWKH[EXWWRQWKDWZDVFOLFNHG
(YHU\PRXVHPHVVDJHWKDWWKLVKRRNLQWHUFHSWVKDVDIODJLQGLFDWLQJZKHWKHUWKLVPHVVDJH
ZDVLQMHFWHGLQWRWKHPHVVDJLQJVWUHDP0RVWRIWKHWLPHGHYLFHGULYHUVLQMHFWPRXVHRU
NH\ERDUGPHVVDJHVLQWRWKHPHVVDJHVWUHDPWRV\QWKHWLFDOO\SURGXFHDPRXVHRUNH\ERDUG
PHVVDJH7KHVHV\QWKHWLFPHVVDJHVFDQQRWEHGHWHFWHGH[FHSWE\DELWLQWKHIODJVPHPEHU
RIWKH06//+22.6758&7VWUXFWXUHWKDWLVSDVVHGWRWKLVKRRN7KHIODJVPHPEHUFDQEH
$1'HGZLWKWKH//0+)B,1-(&7('FRQVWDQWWRGHWHUPLQHZKHWKHUWKHPHVVDJHZDV
LQMHFWHG
,I\RXDUHXVLQJWKH0LFURVRIW,QWHOOL6HQVHPRXVHGULYHU\RXZLOOQRWLFHLQMHFWHGPHVVDJHV
DSSHDULQJIRUVSHFLILFHYHQWV)RUH[DPSOHLI\RXVHW\RXUPRXVHZKHHOWRUHSURGXFHD
GRXEOHFOLFNZKHQLWLVFOLFNHGWKDWLVFOLFNHGQRWURWDWHG\RXZLOOQRWLFHDVHULHVRI
PHVVDJHVWKDWDUHLQMHFWHGIRUWKLVDFWLRQ:KDWKDSSHQVLVWKDWWKHPRXVHGULYHUGHWHFWVWKDW
WKHPRXVHZKHHOKDVEHHQFOLFNHGDQGLQMHFWVWKHIROORZLQJPHVVDJHV
:0B/%87721'2:1 :0B/%8772183
:0B/%87721'2:1 :0B/%8772183
,IWKHZLQGRZFODVVZKHUHWKHGRXEOHFOLFNRFFXUUHGLVVHWWRUHFHLYHGRXEOHFOLFNHYHQWVWKH
SUHYLRXVIRXUPHVVDJHVDUHFRQYHUWHGWRWKHIROORZLQJ
:0B/%87721'2:1 :0B/%8772183
:0B/%87721'%/&/.7KLVLVZKHUHWKHGRXEOHFOLFNRFFXUV
:0B/%8772183
7KLVLVRQHH[DPSOHRIDQLQMHFWHGPHVVDJH2WKHUGHYLFHGULYHUVRUDSSOLFDWLRQVWKDWPLJKW
ZDQWWRV\QWKHWLFDOO\FUHDWHPRXVHRUNH\ERDUGPHVVDJHVDOVRFDQLQMHFWPHVVDJHVLQWRWKH
PHVVDJHVWUHDP
7KHFRGHWRLQVWDOODQGUHPRYHWKLVKRRNLVVLPLODUWRWKHFRGHXVHGLQWKH
:+B.(<%2$5'B//KRRNDSSOLFDWLRQLWLVVKRZQLQ([DPSOH7KHSRLQWRILQWHUHVWLV WKDWWKH6HW:LQGRZV+RRN([LQVWDOOV:+B0286(B//DVDV\VWHPZLGHUDWKHUWKDQDWKUHDG
VSHFLILFKRRN1RWHWKHODVWWZRSDUDPHWHUVRIWKH6HW:LQGRZV+RRN([IXQFWLRQ,QWKLV
H[DPSOHWKHK0RGSDUDPHWHURIWKH6HW:,QGRZV+RRN([IXQFWLRQLVVHWHTXDOWR
$SSK,QVWDQFHZKLFKLVWKHLQVWDQFHKDQGOHRIWKLVDSSOLFDWLRQ7KLVYDOXHPXVWEHHTXDOWR
WKHKDQGOHRIWKHPRGXOHLQZKLFKWKHILOWHUIXQFWLRQUHVLGHV7KHILQDOSDUDPHWHUGZ7KUHDG,G
LVVHWWR]HURPHDQLQJWKDWWKLVKRRNZLOOPRQLWRUHYHU\WKUHDGLQWKHV\VWHPIRUPRXVH
PHVVDJHV
([DPSOH,QVWDOOLQJDQG5HPRYLQJWKH:+B0286(B//+RRN 3ULYDWHK+RRN$V/RQJ
3XEOLF,V+RRNHG$V%RROHDQ
3XEOLF6XE6HW0RXVH+RRN ,I,V+RRNHG7KHQ
0VJ%R['RQ WKRRNWKH0286(B//KRRNWZLFHRU\RXZLOOEHXQDEOHWRXQKRRNLW
(OVH
7KLVKDVWREHVHWXSDVDV\VWHPZLGHKRRN
K+RRN 6HW:LQGRZV+RRN([:+B0286(B//$GGUHVV2I0RXVH3URF$SSK,QVWDQFH
,V+RRNHG 7UXH
(QG,I
(QG6XE
3XEOLF6XE5HPRYH0RXVH+RRN 'LPWHPS$V/RQJ
WHPS 8QKRRN:LQGRZV+RRN([K+RRN
,V+RRNHG )DOVH (QG6XE
7KH0RXVH3URFIXQFWLRQZKLFKLVVKRZQLQ([DPSOHDFWVDVWKHILOWHUIXQFWLRQIRUWKLV
KRRN7KLVIXQFWLRQVLPSO\GLVSOD\VWKHIROORZLQJLQIRUPDWLRQWKDWWKHKRRNSURYLGHV •
7KHWH[WER[GLVSOD\VWKHKRRNFRGHPHVVDJH,'H[WUDLQIRUPDWLRQDVVRFLDWHGZLWK
WKHPHVVDJHWKHWLPHWKHPHVVDJHZDVFUHDWHGDQGZKHWKHUWKHPHVVDJHZDV LQMHFWHG
•
7KH0RXVH&RRUGLQDWHVIUDPHUHFHLYHVWKH[DQG\FRRUGLQDWHVGHULYHGIURPWKH PHVVDJH7KH[DQG\FRRUGLQDWHVDUHVWRUHGLQWKH32,17VWUXFWXUHZLWKLQWKH
06//+22.6758&7VWUXFWXUH
•
7KH0RXVH:KHHO5RWDWLRQIUDPHGLVSOD\VWKHGLUHFWLRQIRUZDUGRUEDFNZDUG WKDW WKHPRXVHZKHHOLVURWDWLQJ,IWKHZ3DUDPSDUDPHWHULQGLFDWHVWKDWD
:0B0286(:+((/PHVVDJHKDVEHHQLQWHUFHSWHG\RXFDQXVHWKHKLJKRUGHU
ZRUGRIWKHPRXVH'DWDPHPEHURIWKH06//+22.6758&7VWUXFWXUHWRGHWHUPLQH
WKHGLUHFWLRQRIWKLVURWDWLRQ,IWKLVYDOXHLVSRVLWLYHWKHPRXVHZKHHOLVEHLQJURWDWHG
IRUZDUGRWKHUZLVHLWLVEHLQJURWDWHGEDFNZDUG •
7KH0RXVH;%XWWRQ,QIRUPDWLRQIUDPHUHFHLYHVDYDOXHLQGLFDWLQJZKLFKPRXVH
[EXWWRQZDVSUHVVHGRUUHOHDVHG
KLJKRUGHUZRUGRIWKHPRXVH'DWDPHPEHURIWKH06//+22.6758&7VWUXFWXUHEXW
RQO\ZKHQZ3DUDPFRQWDLQVRQHRIWKHIROORZLQJPHVVDJHV • • • • • •
:0B;%87721'2:1
:0B;%8772183
:0B;%87721'%/&/.
:0B1&;%87721'2:1
:0B1&;%8772183
:0B1&;%87721'%/&/.
([DPSOH7KH0RXVH3URF)LOWHU)XQFWLRQ 3XEOLF)XQFWLRQ0RXVH3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
'LPVWU,QMHFWHG$V6WULQJ
O3DUDP$V06//+22.6758&7 $V/RQJ
,IX&RGH! 7KHQ
,I//0+)B,1-(&7('$QGO3DUDPIODJV7KHQ
VWU,QMHFWHG ,QMHFWHG (OVH
VWU,QMHFWHG 1RW,QMHFWHG (QG,I
,IZ3DUDP :0B0286(:+((/7KHQ
,I&/QJO3DUDPPRXVH'DWD$QG +)))) !7KHQ
)RUPOEO:KHHO,QIR )RUZDUG (OVH
)RUPOEO:KHHO,QIR %DFNZDUGV
(QG,I (OVH
)RUPOEO%WWQ,QIR &6WUO3DUDPPRXVH'DWD$QG +)))) (QG,I
)RUPOEO;&DSWLRQ O3DUDPSW[ )RUPOEO<&DSWLRQ O3DUDPSW\
6HOHFW&DVHX&RGH
&DVH+&B$&7,21
)RUP7H[W7H[W )RUP7H[W7H[W +&B$&7,2106* B
+H[Z3DUDP ([WUD,QIR
7LPH O3DUDPWLPH VWU,QMHFWHG
O3DUDPGZ([WUD,QIR B
YE1HZ/LQH
&DVH+&B125(029(
)RUP7H[W7H[W )RUP7H[W7H[W +&B125(029(06* B
+H[Z3DUDP ([WUD,QIR
7LPH O3DUDPWLPH VWU,QMHFWHG
O3DUDPGZ([WUD,QIR B
YE1HZ/LQH
&DVH(OVH (QG6HOHFW (OVH
)RUP7H[W7H[W 1$ YE1HZ/LQH
(QG,I
0RXVH3URF &DOO1H[W+RRN([K+RRNX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
&DYHDWV 2QFHDJDLQSHUIRUPDQFHPLJKWEHDQLVVXHZLWKWKHXVHRIWKH:+B0286(RU
:+B0286(B//KRRNHVSHFLDOO\ZLWKV\VWHPZLGHDQGORZOHYHOPRXVHKRRNV
XVHWKHVHKRRNVMXGLFLRXVO\)RUPRUHLQIRUPDWLRQRQWKHSUREOHPVZLWKORZOHYHOKRRNVUHIHU
WR6HFWLRQRI&KDSWHU
:KHQXVLQJWKHORZOHYHOPRXVHKRRN:+B0286(B// QRWHWKDWWKHGHEXJKRRNFDQQRW
UHFHLYHWKHLQSXWWRWKLVKRRNEHIRUHWKHKRRNLVFDOOHG7KHGHEXJKRRNZRUNVQRUPDOO\ZLWK
WKHPRXVHKRRN:+B0286( 7KHGHEXJKRRNLVGHVFULEHGLQ&KDSWHU $UHJLVWU\NH\LVDVVRFLDWHGZLWKORZOHYHOKRRNVVXFKDV:+B0286(B//DQG
:+B.(<%2$5'B//VHH&KDSWHU 7KHQXPHULFUHJLVWU\YDOXH/RZ/HYHO+RRNV7LPHRXW
LVORFDWHGLQWKHIROORZLQJUHJLVWU\NH\
+.(
7KLVYDOXHFRQWUROVWKHWLPHRXWSHULRGLQPLOOLVHFRQGVIRUDOOORZOHYHOKRRNV,IWKHILOWHU
IXQFWLRQIRUDORZOHYHOKRRNGRHVQRWUHWXUQZLWKLQWKLVWLPHVSDQWKHV\VWHPZLOOFDOOWKHQH[W
ORZOHYHOKRRNLQWKHFKDLQ
$OWKRXJKDOOELWDQGELWRSHUDWLQJV\VWHPVVXSSRUWWKH:+B0286(KRRNDOOGRQRW
VXSSRUWWKH:+B0286(B//KRRN7KH:+B0286(B//KRRNLVIRXQGRQO\LQ:LQGRZV17
6HUYLFH3DFNRUKLJKHU DQG:LQGRZVLWLVQRWIRXQGLQ:LQGRZV[
$VRQHILQDOFDXWLRQWKHUHLVDEXJZKHQXVLQJWKHPRXVHKRRNVIURPZLWKLQD9%XVHU
FRQWURO$UWLFOH4LQWKH0LFURVRIW'HYHORSHU1HWZRUN06'1 GHWDLOVWKHEXJDQGKRZ
WRZRUNDURXQGLW9LVXDO6WXGLR6HUYLFH3DFNVROYHVWKLVSUREOHP
&KDSWHU:+B)25(*5281','/( 7KLVFKDSWHUFRYHUVWKH:+B)25(*5281','/(KRRN7KHFKDSWHUSURYLGHVDGHVFULSWLRQ
RIWKHKRRNDQGDQH[SODQDWLRQRIKRZLWLVXVHG,WDOVRSURYLGHVDQH[DPSOHWRGHPRQVWUDWH
WKLVKRRN VXVHLQDQDSSOLFDWLRQ7KHFKDSWHUHQGVZLWKDGLVFXVVLRQRIVRPHFRQVLGHUDWLRQV
WRNHHSLQPLQGZKHQXVLQJWKLVKRRN
'HVFULSWLRQ
SURFHVVLQJZKHQLWLVDERXWWRJRLQWRDQLGOHVWDWH7KLVW\SHRISURFHVVLQJLVQRUPDOO\FDOOHG
EDFNJURXQGSURFHVVLQJEHFDXVHLWRFFXUVDIWHURWKHUPRUHLPSRUWDQWSURFHVVLQJKDVILQLVKHG
$QDSSOLFDWLRQDFKLHYHVDQLGOHVWDWHZKHQLWKDVQRPRUHPHVVDJHVLQWKHPHVVDJHTXHXHWR
SURFHVV
7REHPRUHVSHFLILFWKHV\VWHPFDOOVWKLVKRRNZKHQWKHIRUHJURXQGWKUHDGLVDERXWWRHQWHU
DQLGOHVWDWH(YHU\DSSOLFDWLRQKDVRQHIRUHJURXQGWKUHDGDQ\RWKHUWKUHDGLVFRQVLGHUHGD
EDFNJURXQGWKUHDG%HFDXVH9LVXDO%DVLF9% DSSOLFDWLRQVUXQLQDVLQJOHWKUHDGWKLVWKUHDG
LVFRQVLGHUHGWKHIRUHJURXQGWKUHDG,ID9%DSSOLFDWLRQFUHDWHVPXOWLSOHWKUHDGVWKHV\VWHP
ZLOOFDOOWKHKRRNRQO\ZKHQWKHPDLQRUIRUHJURXQGWKUHDGLVDERXWWRJRLQWRDQLGOHVWDWH
:KHQWKHDSSOLFDWLRQLVDERXWWRHQWHUDQLGOHVWDWHWKHV\VWHPZLOOFKHFNWRVHHLIDQ\
:+B)25(*5281','/(KRRNVZHUHLQVWDOOHG,IVRWKHV\VWHPFDOOVWKHILUVWILOWHUIXQFWLRQ
LQVWDOOHGLQWKHFKDLQIRUWKLVKRRN
'// DQGXVHLWDVDV\VWHPZLGHKRRN$WKUHDGVSHFLILFKRRNLQWHUFHSWVDOOPHVVDJHV
ZLWKLQWKHWKUHDGLQZKLFKLWLVLQVWDOOHG:KHQ\RXLQVWDOODKRRNDVDV\VWHPZLGHKRRN\RX
PXVWSODFHLWLQD'//7KLV'//LVLQMHFWHGLQWRHYHU\SURFHVVVRWKDWWKHKRRNFDQRSHUDWH RQDOOPHVVDJHVLQWKHV\VWHP&KDSWHUGLVFXVVHVWKLVLQGHWDLO
7KHZ3DUDPDQGO3DUDPDUJXPHQWVDUHQRWXVHGIRUWKLVKRRNZKLFKPDNHVWKLVKRRNRQHRI
WKHVLPSOHUWRLPSOHPHQW
/RFDWLRQRI7KLV+RRNLQWKH6\VWHP 7KHV\VWHPFDOOVWKHILOWHUIXQFWLRQIRUWKLVKRRNRQO\ZKHQWKHDSSOLFDWLRQKDVGHWHUPLQHGWKDW
WKHUHDUHQRPRUHSHQGLQJPHVVDJHVLQWKHTXHXHEXWLPPHGLDWHO\EHIRUHWKHWKUHDG\LHOGV
LWVHOIWRRWKHUZDLWLQJWKUHDGV7KLVKRRNLVFDOOHGIURPZLWKLQWKHPHVVDJHORRSIXQFWLRQ
$W\SLFDOPHVVDJHORRSLVZULWWHQOLNHWKLV
ZKLOH*HW0HVVDJH PVJ18//
^
`
7UDQVODWH0HVVDJH PVJ
'LVSDWFK0HVVDJH PVJ
:KHQQRPRUHPHVVDJHVDUHSUHVHQWLQWKHPHVVDJHTXHXHWKH*HW0HVVDJHIXQFWLRQSXWV
WKHDSSOLFDWLRQLQWRDQLGOHVWDWH$QDSSOLFDWLRQLQDQLGOHVWDWHZLOO\LHOGFRQWURORIWKH&38WR
RWKHUDSSOLFDWLRQV:KLOHWKHDSSOLFDWLRQLVLGOH*HW0HVVDJHZDWFKHVIRUDQ\QHZPHVVDJHV
SODFHGLQWKHTXHXH$IWHUDQHZPHVVDJHLVSODFHGWKHUH*HW0HVVDJHWDNHVWKHDSSOLFDWLRQ
RXWRILWVLGOHVWDWHDQGSURFHHGVWRSURFHVVWKLVQHZPHVVDJH
$9%PHVVDJHORRSORRNVVRPHWKLQJOLNHWKLV
:KLOH758(
:KLOH3HHN0HVVDJHVWUXFW0VJ
,IVWUXFW0VJPHVVDJH :0B48,77KHQ
([LW)XQFWLRQ
,I,V:LQGRZ$QG1RW,V,FRQLF WKHQ
(OVH
(QG,I
/RRS
(QG,I
7UDQVODWH0HVVDJHVWUXFW0VJ 'LVSDWFK0HVVDJHVWUXFW0VJ
'R%DFN*URXQG3URFHVVLQJ
:DLW0HVVDJH
/RRS
,I%DFNJURXQG3URFHVVLQJ5HDG\ 7KHQ (OVH (QG,I
,QVWHDGRIXVLQJD*HW0HVVDJHPHVVDJHORRS9%DSSOLFDWLRQVXVHD3HHN0HVVDJHPHVVDJH
ORRS,QGRLQJVRWKHDSSOLFDWLRQPXVWFDOOWKH:DLW0HVVDJHIXQFWLRQWRWHOOWKHV\VWHPWKDWLW
LVLQDQLGOHVWDWH7KH:DLW0HVVDJHIXQFWLRQSODFHVWKHDSSOLFDWLRQLQDQLGOHVWDWHZKHQQR
PHVVDJHVDUHLQWKHPHVVDJHTXHXHDQGLWGRHVQRWUHWXUQXQWLODQHZPHVVDJHLVSODFHGLQ
WKHTXHXHVLPLODUWRWKHZD\*HW0HVVDJHZRUNV
,IZHKDGDFFHVVWRWKLVFRGHZHFRXOGVLPSO\DGGRXUEDFNJURXQGSURFHVVLQJIXQFWLRQ
LPPHGLDWHO\EHIRUHRUDIWHUWKH'R%DFNJURXQG3URFHVVLQJIXQFWLRQ%HFDXVHZHGRQRWKDYH
DFFHVVWRWKLVFRGHZHPXVWXVHWKH:+B)25(*5281','/(KRRNLIZHDUHWRGRDQ\
EDFNJURXQGSURFHVVLQJ
8VLQJ1X0HJD V6PDUW&KHFNXWLOLW\ZHFDQVHHH[DFWO\ZKHUHWKLVKRRNLVFDOOHGDV)LJXUH
LOOXVWUDWHV
)LJXUH6PDUW&KHFNRXWSXWVKRZLQJWKHPHVVDJHORRSIRUWKLVDSSOLFDWLRQ
/LQHLVWKHVWDUWRIWKH3HHN0HVVDJHORRS/LQHVKRZVWKH'LVSDWFK0HVVDJH
IXQFWLRQVHQGLQJWKHPHVVDJHRQWRWKHFRUUHFWZLQGRZSURFHGXUH/LQHVKRZVWKH
:DLW0HVVDJHIXQFWLRQEHLQJFDOOHG,WLVKHUHWKDWWKH:+B)25(*5281','/(KRRNLV
FDOOHG/LQHVWKURXJKPDLQO\GHDOZLWKWKHFRGHZLWKLQWKHILOWHUIXQFWLRQZKLFK
LQFUHPHQWVWKHFRXQWHULQWKHWH[WER[RQWKHDSSOLFDWLRQ VPDLQIRUP/LQHLVZKHUHWKH
&DOO1H[W+RRN([IXQFWLRQFDOOVWKHQH[W:+B)25(*5281','/(KRRNLQWKHKRRNFKDLQ
)LJXUHLOOXVWUDWHVZKHUHWKHKRRNSRLQWH[LVWVLQWKH:LQGRZVPHVVDJLQJV\VWHP
)LJXUH7KHORFDWLRQRIWKH:+B)25(*5281','/(KRRNLQWKHPHVVDJLQJV\VWHP
7KHV\VWHPFDOOVWKLVKRRNZKHQHLWKHUWKH*HW0HVVDJHRU:DLW0HVVDJHIXQFWLRQVDUHDERXW
WRSODFHWKHIRUHJURXQGWKUHDGLQWRDQLGOHVWDWH
%DFNJURXQG3URFHVVLQJ([DPSOH 7KH:+B)25(*5281','/(KRRNH[DPSOHIRUWKLVFKDSWHUZLOOVLPSO\LQFUHPHQWDQXPEHU
LQDWH[WER[)LJXUHVKRZVDVFUHHQVKRWRIWKHH[DPSOHDSSOLFDWLRQ7KLVDSSOLFDWLRQ
KDVWZREXWWRQV7KHKRRNEXWWRQZLOOLQVWDOOWKHKRRNDQGWKHXQKRRNEXWWRQZLOOUHPRYHWKH
KRRN,IWKHXVHUWULHVWRFORVHWKHDSSOLFDWLRQEHIRUHUHPRYLQJWKHKRRNWKHDSSOLFDWLRQZLOO
GLVSOD\DPHVVDJHER[LQIRUPLQJWKHXVHUWRILUVWFOLFNWKHXQKRRNEXWWRQDQGWKHQVKXWGRZQ
WKHDSSOLFDWLRQ
)LJXUH$VFUHHQVKRWRIWKHH[DPSOHDSSOLFDWLRQ
7DEOHOLVWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV 7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW7\SH
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
1DPH
)RUP
)RUP
&DSWLRQ
:+B)25(*5281','/(+RRN
)RUP
7RS
)RUP
/HIW
)RUP
+HLJKW
)RUP
:LGWK
7H[W%R[
1DPH
7H[W
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
7H[W%R[
6FUROO%DUV
%RWK
)UDPH
&DSWLRQ
,'/(
)UDPH
1DPH
)UDPH
)UDPH
7RS
)UDPH
/HIW
)UDPH
+HLJKW
)UDPH
:LGWK
&RPPDQG%XWWRQ
1DPH
&RPPDQG
&RPPDQG%XWWRQ
&DSWLRQ
KRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
&RPPDQG
&RPPDQG%XWWRQ
&DSWLRQ
XQKRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
:KHQWKHXVHUFOLFNVWKHKRRNEXWWRQWKHDSSOLFDWLRQZLOOLQFUHPHQWDQXPEHULQWKHWH[WER[
IURPWRZKHQHYHULWHQWHUVLWVLGOHVWDWH:KHQLWUHDFKHVLWZLOOVWDUWRYHUDW
]HUR
([DPSOHSUHVHQWVWKHFRGHFRQWDLQHGLQWKHGHFODUDWLRQVHFWLRQRIWKH0RGXOHEDV
PRGXOH
([DPSOH7KH'HFODUDWLRQ6HFWLRQIRUWKH0RGXOHEDV0RGXOH 3ULYDWH'HFODUH)XQFWLRQ6HW:LQGRZV+RRN([/LEXVHU$OLDV6HW:LQGRZV+RRN([$B %\9DOLG+RRN$V/RQJ%\9DOOSIQ$V/RQJ%\9DOKPRG$V/RQJB
%\9DOGZ7KUHDG,G$V/RQJ $V/RQJ
3ULYDWH'HFODUH)XQFWLRQ8QKRRN:LQGRZV+RRN([/LEXVHUB
%\9DOK+RRN$V/RQJ $V/RQJ
3ULYDWH'HFODUH)XQFWLRQ&DOO1H[W+RRN([/LEXVHU%\9DOK+RRN$V/RQJB
%\9DOQFRGH$V/RQJ%\9DOZ3DUDP$V/RQJO3DUDP$V$Q\ $V/RQJ
3ULYDWH&RQVW:+B)25(*5281','/(
3ULYDWH&RQVW+&B$&7,21
3ULYDWHK+RRN$V/RQJ
3ULYDWH,V+RRNHGDV%RROHDQ
7KH:+B)25(*5281','/(FRQVWDQWLVWKHLGHQWLILHUIRUWKLVKRRNW\SH7KH+&B$&7,21
FRQVWDQWLVFRPSDUHGWRWKHX&RGHDUJXPHQWVHQWWRWKHILOWHUIXQFWLRQ,IWKHX&RGHDUJXPHQW
LVHTXDOWRRUJUHDWHUWKDQ+&B$&7,21ZHFDQH[HFXWHRXUIXQFWLRQDOLW\RWKHUZLVHZHQHHG
WRVNLSLW
1H[WZHQHHGWRGHILQHDPRGXOHOHYHOYDULDEOHK+RRNWRKROGWKHKRRNKDQGOHWKDWZHJHW
IURP6HW:LQGRZV+RRN([:HZLOOQHHGWKHKRRNKDQGOHWRFDOOWKHQH[WKRRNLQWKHFKDLQDV
ZHOODVWRUHPRYHWKHKRRNZKHQZHDUHILQLVKHGXVLQJLW
7KHILQDOPRGXOHOHYHOYDULDEOHWKDWZHQHHGWRFUHDWHLV,V+RRNHG7KLVYDULDEOHZLOODFWDVD
IODJWRVLJQLI\ZKHWKHUWKHKRRNKDVEHHQLQVWDOOHG7KLVZLOOSUHYHQWXVIURPLQVWDOOLQJD
VHFRQGGXSOLFDWHKRRN
([DPSOHSUHVHQWVWKHFRGHIRUWKH0RGXOHEDVPRGXOH
([DPSOH7KH0RGXOHEDV0RGXOH
3XEOLF6XE6HW,GOH+RRN
,I,V+RRNHG7KHQ
0VJ%R['RQ WKRRNLWWZLFHZLWKRXWXQKRRNLQJRU\RX B ZLOOEHXQDEOHWRXQKRRNLW
(OVH
K+RRN 6HW:LQGRZV+RRN([:+B)25(*5281','/($GGUHVV2I,GOH3URFB $SS7KUHDG,'
,V+RRNHG 7UXH (QG,I
(QG6XE
3XEOLF6XE5HPRYH,GOH+RRN
'LPWHPS$V/RQJ
WHPS 8QKRRN:LQGRZV+RRN([K+RRN
,V+RRNHG )DOVH (QG6XE
3XEOLF)XQFWLRQ,GOH3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
O3DUDP$V/RQJ $V/RQJ ,IX&RGH! +&B$&7,217KHQ
,I,V1XPHULF)RUP7H[W7H[W 7KHQ
,I&'EO)RUP7H[W7H[W !7KHQ )RUP7H[W7H[W
(OVH
)RUP7H[W7H[W &'EO)RUP7H[W7H[W (QG,I (QG,I (OVH
6NLSSURFHVVLQJ (QG,I
,GOH3URF &DOO1H[W+RRN([K+RRNX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
7KH6HW,GOH+RRNURXWLQHLQ([DPSOHVKRZVWKHFRGHWRLQVWDOOWKHKRRN7RVHWWKH KRRNZHFDOO6HW:LQGRZV+RRN([ZLWKWKH:+B)25(*5281','/(FRQVWDQWLQWKHILUVW
DUJXPHQWDQGWKHDGGUHVVRIWKHILOWHUIXQFWLRQLQWKHVHFRQGDUJXPHQW7KHWKLUGDUJXPHQWLV
D]HUREHFDXVHWKHILOWHUIXQFWLRQLVQRWORFDWHGZLWKLQD'//PRGXOH7KHIRXUWKDUJXPHQWLV
VHWHTXDOWR$SS7KUHDG,'7KLVLVWKHLGHQWLILHURIWKHWKUHDGLQZKLFKWKHILOWHUIXQFWLRQLV
ORFDWHG
1RWLFHKRZWKH,V+RRNHGYDULDEOHSUHYHQWVWKHXVHUIURPVHWWLQJWKHKRRNDVHFRQGWLPH
7KHVHFRQGIXQFWLRQWKDWZHQHHGWRZULWHUHOHDVHVWKHKRRNLWLVQDPHG5HPRYH,GOH+RRN
DQGLVVKRZQLQ([DPSOH7KLVIXQFWLRQZLOOVLPSO\FDOOWKH8Q+RRN:LQGRZV+RRN([
IXQFWLRQDQGWKHQVHWWKH,V+RRNHGIODJWR)DOVHLQGLFDWLQJWKDWWKHKRRNKDVEHHQUHPRYHG
7KHODVWIXQFWLRQWKDWZHQHHGWRZULWHLVWKHILOWHUIXQFWLRQIRUWKHKRRNZKLFKDOVRLVVKRZQLQ
([DPSOH7KHV\VWHPLQLWLDOO\SDVVHVWKHX&RGHDUJXPHQWLQWRWKLVIXQFWLRQ:KHQ
\RXUILOWHUIXQFWLRQUHFHLYHVDYDOXHOHVVWKDQ]HUR\RXPXVWQRWSHUIRUPDQ\SURFHVVLQJDQG
FDOO&DOO1H[W+RRN([WRFDOODQ\RWKHUILOWHUIXQFWLRQVLQWKHFKDLQ,IWKHX&RGHDUJXPHQW
FRQWDLQVDYDOXHJUHDWHUWKDQRUHTXDOWR+&B$&7,21WKLVLVDFRQVWDQWWKDWLVHTXDOWR
]HUR \RXFDQSHUIRUPDQ\SURFHVVLQJIURPLQVLGH\RXUILOWHUIXQFWLRQDQGWKHQFDOOWKHQH[W ILOWHUIXQFWLRQLQWKHFKDLQ
$V\RXFDQVHHWKHFRGHWRLQFUHPHQWWKHQXPEHUGLVSOD\HGLQWKHWH[WER[LVH[HFXWHGRQO\
ZKHQX&RGHLVJUHDWHUWKDQRUHTXDOWR+&B$&7,21RWKHUZLVHZHQHHGWRVNLSWKH
SURFHVVLQJDQGFDOOWKHQH[WKRRNLQWKHFKDLQ3ODFLQJWKH&DOO1H[W+RRN([IXQFWLRQDWWKH
HQGRIWKLVIXQFWLRQDVVXUHVXVWKDWWKHV\VWHPZLOOFDOOWKHQH[WKRRNLQWKHFKDLQ
([DPSOHVKRZVWKHFRGHLQWKH)RUPIUPPRGXOH7KH&RPPDQGEXWWRQVHWVWKH
YDOXHLQWKHWH[WER[WR]HURDQGFDOOV6HW,GOH+RRNWRLQVWDOOWKHKRRN7KH&RPPDQGEXWWRQ
VLPSO\FDOOV5HPRYH,GOH+RRNWRUHPRYHWKHLQVWDOOHGKRRN)LQDOO\WKH)RUPB4XHU\8QORDG HYHQWSURFHGXUHWHVWVWKH,V+RRNHGIODJWRGHWHUPLQHLIWKHKRRNLVVWLOOLQVWDOOHG,ILWLVD
PHVVDJHER[LVGLVSOD\HGLQIRUPLQJWKHXVHUWRFOLFNWKHXQKRRNEXWWRQEHIRUHVKXWWLQJGRZQ
WKHDSSOLFDWLRQ,IWKLVWHVWZDVQRWSHUIRUPHGDQGWKHDSSOLFDWLRQZDVVKXWGRZQZLWKWKH
KRRNVWLOOLQVWDOOHGD*HQHUDO3URWHFWLRQ)DXOW*3) ZRXOGRFFXU ([DPSOH6RXUFH&RGHIRUWKH)RUPIUP0RGXOH 3ULYDWH6XE&RPPDQGB&OLFN
7H[W7H[W
&DOO6HW,GOH+RRN (QG6XE
3ULYDWH6XE&RPPDQGB&OLFN
&DOO5HPRYH,GOH+RRN (QG6XE
&/($183
3ULYDWH6XE)RUPB4XHU\8QORDG&DQFHO$V,QWHJHU8QORDG0RGH$V,QWHJHU
,I,V+RRNHG7KHQ &DQFHO
0VJ%R[8QKRRNEHIRUHFORVLQJRUWKHDSSOLFDWLRQZLOOFUDVK
(QG,I
(QG6XE
&DYHDWV :KLOHUXQQLQJWKHH[DPSOHDSSOLFDWLRQSURYLGHGZLWKWKLVFKDSWHU\RXPLJKWQRWLFHWKDWWKH
QXPEHUVWRSVLQFUHPHQWLQJZKHQDQRWKHUDSSOLFDWLRQLVEURXJKWWRWKHIRUHJURXQG,I\RX
PDNHWKHH[DPSOHDSSOLFDWLRQWKHDFWLYHZLQGRZWKHQXPEHUFRQWLQXHVWRLQFUHPHQW7KLVLV
EHFDXVHWKHPDLQWKUHDGRIRXUDSSOLFDWLRQLVFRQVLGHUHGWKHIRUHJURXQGWKUHDGZKHQWKH
DSSOLFDWLRQLVDFWLYH$IRUHJURXQGWKUHDGLVWKHPDLQWKUHDGRIDQDSSOLFDWLRQWKDWLVFXUUHQWO\
DFWLYDWHG$OORWKHUWKUHDGVDUHFRQVLGHUHGEDFNJURXQGWKUHDGV7KLVGHVLJQDOORZVWKH
V\VWHPWRJLYHPRUH&38WLPHWRWKLVWKUHDGWKXVERRVWLQJWKHSHUIRUPDQFHRIWKHDFWLYH
DSSOLFDWLRQ:KHQRXUDSSOLFDWLRQLVGHDFWLYDWHGDQRWKHUDSSOLFDWLRQ VPDLQWKUHDGZLOO
EHFRPHWKHIRUHJURXQGWKUHDGDQGWKHPDLQWKUHDGRIRXUDSSOLFDWLRQZLOOEHFRPHD
EDFNJURXQGWKUHDG$IWHURXUDSSOLFDWLRQ VPDLQWKUHDGFHDVHVWREHDIRUHJURXQGWKUHDGWKH
V\VWHPZLOOQRWFDOOWKHKRRNLQVWDOOHGRQWKDWWKUHDG
7KHV\VWHPFDOOVWKH:+B)25(*5281','/(KRRNRQO\LPPHGLDWHO\EHIRUHWKHDSSOLFDWLRQ
JRHVLQWRDQLGOHVWDWHQRWZKLOHWKHDSSOLFDWLRQLVLQDQLGOHVWDWH7KHUHIRUHWKLVKRRNFDQ
SUHYHQWWKHDSSOLFDWLRQIURPJRLQJLQWRDQLGOHVWDWHLIWKHFRGHZLWKLQWKHKRRNFDXVHVD
PHVVDJHWREHVHQWWRWKHZLQGRZ VPHVVDJHTXHXH7KH:DLW0HVVDJHIXQFWLRQZLOOVHHWKLV
QHZPHVVDJHDQGUHWXUQSUHYHQWLQJWKHDSSOLFDWLRQIURPHQWHULQJDQLGOHVWDWH
HYLGHQFHRIWKLVLQRXUVDPSOHDSSOLFDWLRQWKHQXPEHULQWKHWH[WER[NHHSVLQFUHPHQWLQJ
ZKHQWKHZLQGRZLVWKHDFWLYHZLQGRZEXWQRLQSXWLVEHLQJVHQWWRLW7KLVKDSSHQVEHFDXVH
RXUFRGHLVZULWLQJWKHLQFUHPHQWHGQXPEHUWRWKHWH[WER[HIIHFWLYHO\VHQGLQJVHYHUDO
PHVVDJHVWRWKHWH[WER[FRQWURORQRXUIRUP2QHRIWKHVHPHVVDJHVLVWKH
:0B&7/&2/25(',7ZKLFKLVVHQWWRLQIRUPWKHSDUHQWZLQGRZRXUIRUPWKDWWKHWH[WER[
LVJRLQJWRUHSDLQWLWVHOI7KHV\VWHPSODFHVWKLVPHVVDJHRQWKHPHVVDJHTXHXHDQGZKHQ
WKLVKDSSHQVWKHDSSOLFDWLRQFRPHVRXWRILWVLGOHVWDWHDQGEHJLQVWRSURFHVVWKLVQHZ
PHVVDJH:KHQILQLVKHGLWRQFHDJDLQWULHVWRHQWHUDQLGOHVWDWH7KHV\VWHPFDOOVRXUKRRN
IXQFWLRQDQGLQFUHPHQWVWKHQXPEHULQWKHWH[WER[7KLVRQFHDJDLQVHQGVWKH
:0B&7/&2/25(',7PHVVDJHWRWKHPDLQIRUPSUHYHQWLQJRXUDSSOLFDWLRQIURPHQWHULQJDQ
LGOHVWDWH
$VDQRWKHUWHVW\RXFDQUHSODFHWKHIROORZLQJFRGHLQWKH6HW,GOH3URFILOWHUIXQFWLRQ
,I,V1XPHULF)RUP7H[W7H[W 7KHQ
,I&'EO)RUP7H[W7H[W !7KHQ )RUP7H[W7H[W (OVH
)RUP7H[W7H[W &'EO)RUP7H[W7H[W (QG,I (QG,I
ZLWKWKLVFRGH
,I)RUP/HIW!WKHQ
(QG,I
)RUP/HIW )RUP/HIW
,I)RUP7RS!WKHQ
(QG,I
)RUP7RS )RUP7RS
7KLVFRGHFKHFNVWKHORFDWLRQRIWKHIRUPWRVHHLILWVWRSOHIWFRUQHULVDWWKHFRRUGLQDWHV
RQWKHVFUHHQ,IWKHIRUPLVQRWDWWKLVORFDWLRQWKHFRGHZLOOSURFHHGWRPRYHWKHIRUPFORVHU
WRWKHWRSOHIWFRUQHURQHSL[HODWDWLPH7KLVSURGXFHVWKHDQQR\LQJHIIHFWRIWKHIRUP
FRQVWDQWO\PRYLQJZKLOH\RXDUHWU\LQJWRXVHLW
,I\RXUXQWKLVFRGH\RXZLOOQRWLFHWKDWWKHIRUPPRYHVRQO\ZKHQPHVVDJHVDUHEHLQJVHQW
WRWKHZLQGRZ)RUH[DPSOHPRYHWKHPRXVHDFURVVWKHIRUP7KHIRUPZLOOPRYHFORVHUWR
WKHWRSOHIWFRUQHURIWKHVFUHHQ6WRSPRYLQJWKHPRXVHDQGWKHIRUPZLOOFHDVHPRYLQJ7KLV
DJDLQSURYHVWKDWWKHFRGHLQWKHILOWHUIXQFWLRQLVEHLQJFDOOHGRQO\LPPHGLDWHO\EHIRUHWKH
DSSOLFDWLRQJRHVLQWRDQLGOHVWDWH
&KDSWHU:+B06*),/7(5 7KLVFKDSWHUZLOOGLVFXVVWKH:+B06*),/7(5KRRNDQGZLOOLQFOXGHDWKUHDGVSHFLILF
H[DPSOHWRGHPRQVWUDWHLWVVHWXSDQGXVH7KH:+B06*),/7(5KRRNLVDVSHFLDOW\SHRI
KRRNWKDWLQWHUFHSWVRQO\DVSHFLILFVXEVHWRIVHQWPHVVDJHV7KLVKRRNKDVDYHU\FORVH
FRXVLQWKH:+B6<606*),/7(5KRRN7KH:+B6<606*),/7(5KRRNLQWHUFHSWVWKHVDPH
W\SHRIPHVVDJHVEXWDWDV\VWHPZLGHOHYHORQO\&KDSWHUZLOOGLVFXVVWKH
:+B6<606*),/7(5KRRNDQGFRPSDUHDQGFRQWUDVWLWZLWKWKH:+B06*),/7(5KRRN
'HVFULSWLRQ 7KH:+B06*),/7(5KRRNLQWHUFHSWVRQO\VHQWPHVVDJHVDQGQRWSRVWHGPHVVDJHV WKDW
PHQXVGLDORJER[HVPHVVDJHER[HVDQGVFUROOEDUVSURGXFH)RUDPRUHGHWDLOHG
GLVFXVVLRQRIVHQWPHVVDJHVYHUVXVSRVWHGPHVVDJHVVHH&KDSWHUDQG&KDSWHU
VFRSH
ZLGHVFRSH
G\QDPLFOLQNOLEUDU\'// DQGXVHLWDVDV\VWHPZLGHKRRN$WKUHDGVSHFLILFKRRNLQWHUFHSWV
DOOPHVVDJHVZLWKLQWKHWKUHDGLQZKLFKLWLVLQVWDOOHG:KHQ\RXLQVWDOODKRRNDVDV\VWHP
ZLGHKRRN\RXPXVWSODFHLWLQD'//7KLV'//LVLQMHFWHGLQWRHYHU\SURFHVVVRWKDWWKH
KRRNFDQRSHUDWHRQDOOPHVVDJHVLQWKHV\VWHP&KDSWHUGLVFXVVHVWKLVLQGHWDLO
XQGHUVWDQGZK\ZHQHHGWRXQGHUVWDQGZKDWDPRGDOORRSLVDQGKRZLWDIIHFWVPHVVDJHV WKDW\RXVHQGDQGSRVWWRDWKUHDG
7KH0RGDO/RRS 0LFURVRIWGHILQHVDPRGDOORRSDVIROORZV $PHVVDJHSURFHVVLQJORRSGXULQJZKLFKWKHV\VWHPUHWULHYHVDQG
GLVSDWFKHVPHVVDJHVZLWKRXWDOORZLQJDQDSSOLFDWLRQWKHRSSRUWXQLW\WRILOWHU
WKHPHVVDJHVLQLWVPDLQPHVVDJHORRS
,QRWKHUZRUGVZKHQFHUWDLQHYHQWVRFFXULQWKHV\VWHPHJDPHQXLVRSHQHGDZLQGRZLV
PRYHGVL]HGDPRGDOGLDORJLVGLVSOD\HGRUDVFUROOEDULVPRYHG WKHWKUHDGHQWHUVDORRSLQ
LWVRZQPHVVDJLQJV\VWHP7KLVORRSLVFDOOHGDPRGDOORRS1RWHWKDWZKHQDZLQGRZHQWHUV
DPRGDOORRSLWDIIHFWVRQO\WKHWKUHDGWKDWWKHZLQGRZEHORQJVWR
'XULQJWKLVORRSWKHZLQGRZSURFHGXUHUHFHLYHVPHVVDJHVSHUWDLQLQJRQO\WRWKHVSHFLILFW\SH
RIHYHQWWKDWRFFXUUHGHJWRWKHPHQXWKDWZDVRSHQHGWRWKHZLQGRZEHLQJPRYHGRU
UHVL]HGWRWKHPRGDOGLDORJEHLQJGLVSOD\HGRUWRWKHVFUROOEDUEHLQJPRYHG 3RVWHG
PHVVDJHVDUHQRWUHWULHYHGIURPWKHPHVVDJHTXHXHGXULQJWKLVPRGDOORRS7RHQGWKHORRS
WKHXVHUPXVWSHUIRUPDQDFWLRQWKDWFDXVHVWKHPRGDOORRSWRWHUPLQDWH7KLVDFWLRQFDQEH
DQ\RIWKHIROORZLQJ • •
&OLFNLQJDPHQXLWHPZKLFKFORVHVWKHPHQXWHUPLQDWHVWKHPRGDOORRSDQG
SHUIRUPVWKHPHQXDFWLRQWKHXVHUFKRVH
5HOHDVLQJWKHOHIWPRXVHEXWWRQGXULQJDPRYLQJRUVL]LQJRSHUDWLRQRQDZLQGRZ
ZKLFKFDXVHVWKHPRYLQJRUVL]LQJRSHUDWLRQWRFHDVHDQGWKHPRGDOORRSWR
WHUPLQDWH •
5HOHDVLQJWKHOHIWPRXVHEXWWRQDIWHUPRYLQJWKHWKXPERQDVFUROOEDUZKLFKVWRSV
•
&OLFNLQJWKH2.RU&DQFHOEXWWRQVRQDPRGDOGLDORJRUPHVVDJHER[ZKLFKFORVHV
• •
WKHVFUROOLQJDFWLRQDQGHQGVWKHPRGDOORRS
WKHPRGDOZLQGRZDQGHQGVWKHPRGDOORRS
3UHVVLQJWKH(6&NH\ZKLFKFDXVHVDPRGDOORRSWRWHUPLQDWH
6ZLWFKLQJWRDGLIIHUHQWZLQGRZZKLFKFDXVHVWKHPRGDOORRSWRWHUPLQDWHH[FHSW
ZKHQDPRGDOGLDORJER[RUPHVVDJHER[LVGLVSOD\HGLQWKLVFDVHWKHXVHUQHHGVWR
FORVHWKHPRGDOZLQGRZWRHQGWKHPRGDOORRS
:KHQWKHPRGDOORRSHQGVWKHZLQGRZFDQRQFHDJDLQUHFHLYHSRVWHGPHVVDJHVIURPWKH
PHVVDJHTXHXH
7RVHHWKLVLQDFWLRQOHW VILUVWH[DPLQHDPRGDOORRSWKDWWKHXVHULQLWLDWHVZKHQKHFOLFNVD
PHQXLWHP)LJXUHGLVSOD\VWKH6S\RXWSXWIURPWKLVDFWLRQ)LUVWWKHXVHUFOLFNVWKH OHIWPRXVHEXWWRQRQDWRSOHYHOPHQXLWHP7KLVFRUUHVSRQGVWR/LQHRIWKH6S\RXWSXW
7KLVDFWLRQFDXVHVWKH:0B1&/%87721'2:1PHVVDJHWREHSRVWHGZLWKD+LW7HVWYDOXH
RI+70(187KH+LW7HVWYDOXHFRPHVIURPWKHZ3DUDPSDUDPHWHURIWKLVPHVVDJHDQG
SURYLGHVLQIRUPDWLRQRQZKHUHWKHPRXVHLVSRVLWLRQHGZKHQWKHOHIWPRXVHEXWWRQLV
GHSUHVVHG$YDOXHRI+70(18LQGLFDWHVWKDWWKHPRXVHLVSRVLWLRQHGRYHUDPHQX
(YHQWXDOO\WKH'HI:LQGRZ3URFIXQFWLRQUHFHLYHVWKLVPHVVDJHDIWHUWKHVSHFLILFZLQGRZ
SURFHGXUHSURFHVVHVLW7KH'HI:LQGRZ3URFIXQFWLRQXVHVWKH+LW7HVWYDOXHWRGHWHUPLQHLI
DQ\RWKHUDFWLRQVQHHGWREHSHUIRUPHGEHIRUHUHWXUQLQJ%HFDXVHRIWKLV+LW7HVWYDOXH
'HI:LQGRZ3URFLQ/LQHVHQGVD:0B6<6&200$1'PHVVDJHZLWKDQ
6&B0286(0(18IODJWRWKHZLQGRZWKDWRZQVWKHPHQX:KHQ'HI:LQGRZ3URFUHFHLYHV
WKH:0B6<6&200$1'PHVVDJHLWVHQGVD:0B(17(50(18/223PHVVDJHLQ/LQH
WRWKHZLQGRZWKDWRZQVWKHPHQX7KH:0B(17(50(18/223PHVVDJHLVDQRWLILFDWLRQ
W\SHPHVVDJHWKDWLQIRUPVWKHZLQGRZRZQLQJWKLVPHQXWKDWDPRGDOORRSLVEHLQJHQWHUHG
1RWLFHWKDWWKH'HI:LQGRZ3URFIXQFWLRQKDVQRWUHWXUQHGIURPSURFHVVLQJWKHLQLWLDO
:0B6<6&200$1'PHVVDJH8QWLOLWUHWXUQVIURPWKLVPHVVDJHLWFDQQRWSURFHVVDQ\
SRVWHGPHVVDJHV7KH'HI:LQGRZ3URFIXQFWLRQILQDOO\UHWXUQVIURPWKLVFDOOLQ/LQH,Q
EHWZHHQ/LQHVDQG\RXFDQVHHDOOWKHQHVWHGPHVVDJHVWKDWKDYHEHHQVHQWDQG
UHWXUQHG$OOWKHVHPHVVDJHVDUHLQUHVSRQVHWRVSHFLILFHYHQWVRFFXUULQJLQWKHPHQXIURP
WKHPRXVHDQGNH\ERDUG$OOWKHPHVVDJHVVHQWZLWKLQWKHPRGDOORRSDUHHLWKHUEHLQJVHQW
IURPWKH'HI:LQGRZ3URFRUGLUHFWO\IURPWKHPHQX
)LJXUH6S\RXWSXWGXULQJDPHQXPRGDOORRS
ZRUNZKLOHWKHZLQGRZLVLQDPRGDOORRS,WVHHPVOLNHWKHPRGDOORRSZRXOGSUHYHQWWKH
PRXVHDQGNH\ERDUGIURPIXQFWLRQLQJZKLOHLQVLGHWKHPHQX+HUH VKRZ:LQGRZVJHWV
DURXQGWKDWSUREOHP:KHQDPRXVHRUNH\ERDUGPHVVDJHLVSRVWHGWKHSDUHQWZLQGRZRI WKHPHQXSXOOVWKHPHVVDJHRIIRIWKHPHVVDJHTXHXH,WWKHQVHQGVD:0B127,)<
PHVVDJHZLWKWKHDSSURSULDWHQRWLILFDWLRQFRGHWRWKHPHQX7KHPHQXLVWKHQQRWLILHGRI
PRXVHDQGNH\ERDUGHYHQWVDVWKH\RFFXU6RPHRIWKHQRWLILFDWLRQFRGHVWKDWDUHXVHGIRU
PRXVHDQGNH\ERDUGLQSXWDUH • • • • •
10B.(<'2:1 10B+,77(67 10B5&/,&.
10B&/,&.
10B&+$5
$V,PHQWLRQHGSUHYLRXVO\PHQXVDUHQRWWKHRQO\WKLQJVWKDWFDQFDXVHDPRGDOORRSWR
RFFXU$PRYLQJRUVL]LQJRSHUDWLRQRQDZLQGRZFDQFDXVHWKLVDVZHOO1RWHWKDWDPLQLPL]H
UHVWRUHRUPD[LPL]HDFWLRQDOVRZLOOFDXVHDVL]LQJPRGDOORRSWRRFFXU$VZHFDQVHHLQ
)LJXUHDZLQGRZHQWHUVDPRGDOORRSIRUDPRYLQJDFWLRQRQ/LQHRIWKH6S\
RXWSXW7KLVLVLQUHVSRQVHWRWKHXVHUFOLFNLQJDQGGUDJJLQJWKHZLQGRZ/LQHVKRZVWKH XVHUEHJLQQLQJWKHPRYLQJDFWLRQ2QFHDJDLQWKH:0B1&/%87721'2:1PHVVDJHLV
VHQW7KLVWLPHWKHPHVVDJHFRQWDLQVD+LW7HVWYDOXHRI+7&$37,21ZKLFKFDXVHVWKH
'HI:LQGRZ3URFWRVHQGD:0B6<6&200$1'PHVVDJHZLWKDQ6&B029(IODJWRWKH
ZLQGRZEHLQJPRYHG7KHXVHUUHOHDVHVWKHPRXVHEXWWRQFDXVLQJWKH:0B6<6&200$1'
PHVVDJHWRUHWXUQ
SRVWHG7KLVLVEHFDXVHGXULQJDPRGDOORRSQRPHVVDJHVFDQEHSRVWHGWRWKHWKUHDG V
PHVVDJHTXHXH,QVWHDGLWLVQRWLILHGWKDWWKHDFWLRQLVHQGLQJ5HOHDVLQJWKHPRXVHEXWWRQ
FDXVHVWKH'HI:LQGRZ3URFWRDOORZWKH:0B6<6&200$1'PHVVDJHWRUHWXUQHQGLQJWKH
PRGDOORRS
)LJXUH6S\RXWSXWIRUDPRGDOORRSFDXVHGE\DPRYLQJRSHUDWLRQ
,QPRVWLQVWDQFHVWKHPRGDOORRSIRUDPRYLQJRSHUDWLRQLVYHU\ORQJ7RVKRZWKLVDQRWKHU
PRYHPRGDOORRSEHJLQVRQ/LQHRI)LJXUH7KHPRYHPRGDOORRSHQGVRQ/LQH RI)LJXUH$FWXDOO\VLQFHPDQ\RWKHUPHVVDJHVVXFKDVPRXVHPRYHPHQW
QRWLILFDWLRQDQGSDLQWLQJPHVVDJHVDUHEHLQJILUHG,FKRVHWRHOLPLQDWHWKHVHIURPWKH
RXWSXWWRDOORZIRUHDVLHUUHDGLQJ
)LJXUH6S\RXWSXWIRUHQGLQJDPRGDOORRSFDXVHGE\WKHXVHUUHOHDVLQJWKHOHIW PRXVHEXWWRQ
&UHDWLQJDQGGLVSOD\LQJDPRGDOGLDORJRUPHVVDJHER[FDXVHVDQRWKHUPRGDOORRS)LJXUH
VKRZVWKHFUHDWLRQRIDPHVVDJHER[DQGWKHVXEVHTXHQWPRGDOORRS,QWKLVFDVHWKH
0VJ%R[FRPPDQGLQ9LVXDO%DVLF9% FDXVHVWKH:0B&200$1'PHVVDJHWREHVHQWLQ
/LQH7KLVVWDUWVWKHPRGDOORRSIRUWKHPRGDOPHVVDJHER[$VHULHVRIPHVVDJHVIROORZ
WRFUHDWHVL]HSRVLWLRQDQGSDLQWWKHPHVVDJHER[RQWKHVFUHHQ7KHPRGDOORRSLVILQDOO\
H[LWHGRQ/LQHRI)LJXUH7KHPRGDOORRSLVH[LWHGRQO\DIWHUWKHPHVVDJHER[LV FORVHG
)LJXUH6S\RXWSXWIRUEHJLQQLQJDPHVVDJHER[PRGDOORRS
)LJXUH6S\RXWSXWIRUHQGLQJDPHVVDJHER[PRGDOORRS
7KHILQDOPRGDOORRSGHDOVZLWKXVLQJDVFUROOEDU$VFUROOEDUPRGDOORRSEHJLQVRQ/LQHRI
)LJXUH2QFHDJDLQWKH:0B1&/%87721'2:1PHVVDJHLVILUHGZKHQWKHXVHU
FOLFNVRQWKHVFUROOEDUDQGGUDJVLWWRPRYHLW7KH:0B1&/%87721'2:1PHVVDJH
FDXVHV'HI:LQGRZ3URFWRVHQGD:0B6<6&200$1'ZLWKWKH6&B96&52//IODJ7KH
PRGDOORRSHQGVRQ/LQHZKHQWKHXVHUUHOHDVHVWKHOHIWPRXVHEXWWRQ )LJXUH6S\RXWSXWIRUDVFUROOEDUPRGDOORRS
GUDJJLQJRSWLRQLQWKH(IIHFWVWDERIWKH'LVSOD\3URSHUWLHVGLDORJER[\RXFDQDFFHVVWKLV
GLDORJER[E\VHOHFWLQJWKH&RQWURO3DQHO V'LVSOD\DSSOHW$IWHU\RXFKHFNWKLVRSWLRQRSHQ
1RWHSDGDQGVWDUWW\SLQJ$V\RXPLJKWDOUHDG\KDYHJXHVVHGWKHNH\ERDUGSRVWVPHVVDJHV
WR1RWHSDGDQG1RWHSDGGLVSOD\VWKHP1RZFOLFNWKHWLWOHEDUDQGGUDJWKHZLQGRZDURXQG
WKHVFUHHQ:KLOH\RXDUHGRLQJWKLVDQGEHIRUHUHOHDVLQJWKHEXWWRQWU\W\SLQJ7KHFXUVRULV
VWLOOEOLQNLQJLQWKHFOLHQWDUHDRI1RWHSDGEXWQRNH\ERDUGPHVVDJHVDUHEHLQJSRVWHGWRWKH
ZLQGRZ:KHQ\RXUHOHDVHWKHOHIWPRXVHEXWWRQHQGLQJWKHPRYLQJRSHUDWLRQ\RXZLOOQRWLFH
WKDWQRQHRIWKHNH\V\RXW\SHGLVGLVSOD\HG7KHNH\ERDUGPHVVDJHVZHUHGLVFDUGHGIURP WKHPHVVDJHTXHXHZKLOHWKHZLQGRZZDVLQVLGHWKHPRGDOORRS7KLVVKRZVDQRWKHU
LPSRUWDQWDVSHFWRIPRGDOORRSV'XULQJDPRGDOORRSWKHWKUHDGZLOOSURFHVVDQ\SRVWHG
PHVVDJHVDQGVHQGWKHPDVQRWLILFDWLRQVWRWKHPRGDOORRS%HFDXVHWKHPRGDOORRSZLOOQRW
DOORZWKHFKDUDFWHUVWREHGLVSOD\HGRQWKHVFUHHQWKHNH\SUHVVHVDUHGLVFDUGHG'RLQJWKLV
HQVXUHVWKDWWKHPRGDOORRSDQGWKXVWKHPRYLQJRSHUDWLRQDUHQRWLQWHUUXSWHG
7KHPRGDOORRSLVWKHPDLQUHDVRQIRUKDYLQJWKH:+B06*),/7(5KRRN8VLQJWKLVKRRNZH
FDQSHUIRUPSURFHVVLQJGXULQJDPRGDOORRS8VLQJWKH:+B&$//:1'352&KRRNZHFDQ
LQWHUFHSWDOOPHVVDJHVVHQWWRWKHZLQGRZSURFHGXUHEXWXVLQJWKH:+B06*),/7(5KRRN
ZHLQWHUFHSWRQO\DVXEVHWRIWKRVHPHVVDJHV,WFDQEHDELJSHUIRUPDQFHERRVWHULI\RXFDQ
XVHD:+B06*),/7(5KRRNLQVWHDGRID:+B&$//:1'352&KRRN
)LOWHU)XQFWLRQ'HILQLWLRQ 7KHILOWHUIXQFWLRQSURWRW\SHIRUWKLVKRRNLVZULWWHQDVIROORZV 3XEOLF)XQFWLRQ0HVVDJH3URF%\9DOX&RGH$V/RQJB
7KHSDUDPHWHUVSDVVHGWRLWDUH X&RGH
%\9DOZ3DUDP$V/RQJB
O3DUDP$V06* $V/RQJ
7KHFRGHWKHV\VWHPVHQGVWRWKLVILOWHUIXQFWLRQ
Z3DUDP O3DUDP
7KLVSDUDPHWHULVQRWXVHG
$SRLQWHUWRWKH06*VWUXFWXUH
7KHUHWXUQYDOXHIRUWKLVILOWHUIXQFWLRQVKRXOGEHWKHUHWXUQYDOXHRIWKH&DOO1H[W+RRN([
IXQFWLRQZKLFKRUGLQDULO\LV]HUR,IWKLVIXQFWLRQLVQRWFDOOHGWKHILOWHUIXQFWLRQUHWXUQVD]HUR
,GRQRWUHFRPPHQGVNLSSLQJWKHFDOOWR&DOO1H[W+RRN([WKRXJK)DLOLQJWRFDOOWKLVIXQFWLRQ
ZLOOIRUFHRWKHUILOWHUIXQFWLRQVLQWKHFKDLQWRQRWEHFDOOHG
([SODQDWLRQRI+RRN&RGHV 7KHX&RGHSDUDPHWHURIWKHILOWHUIXQFWLRQZLOOUHFHLYHDKRRNFRGH7KHUHDUHIRXUFRGHVWKDW
PD\EHVHQWWRWKLVILOWHUIXQFWLRQ7KHFRGHVDUH MSGF_DIALOGBOX
$QLQSXWHYHQWVXFKDVDPRXVHRUNH\ERDUGPHVVDJHKDVEHHQVHQWWRD
PHVVDJHER[RUDGLDORJER[)RUWKHVLPLODULWLHVDQGGLIIHUHQFHVEHWZHHQZLQGRZV
PHVVDJHER[HVDQGGLDORJER[HVVHH&KDSWHU
3XEOLF&RQVW06*)B',$/2*%2;
MSGF_SCROLLBAR
$QLQSXWHYHQWRFFXUUHGLQDVFUROOEDU7KLVFRQVWDQWGHILQHGDVIROORZV
3XEOLF&RQVW06*)B6&52//%$5 MSGF_MENU
$QLQSXWHYHQWKDVRFFXUUHGLQDPHQX7KLVFRQVWDQWLVGHILQHGDVIROORZV
3XEOLF&RQVW06*)B0(18 MSGF_DDEMGR
$QLQSXWHYHQWKDVRFFXUUHGZKLOHWKH'\QDPLF'DWD([FKDQJH0DQDJHPHQW/LEUDU\
''(0/ ZDVLQWKHSURFHVVRIZDLWLQJIRUDV\QFKURQRXVWUDQVDFWLRQWRFRPSOHWH
7KH''(0/LVD:LQLQWHUIDFHWKDWDOORZVGHYHORSHUVWRDGG'\QDPLF'DWD
([FKDQJH''( WRWKHLUDSSOLFDWLRQV''(LVDGDWDWUDQVIHUPHFKDQLVPWKDWDOORZV
PXOWLSOHDSSOLFDWLRQVWRFRPPXQLFDWHWKURXJKDGHILQHGVHWRIPHWKRGV''(LVQRW VWDWHRIWKHDUWWHFKQRORJ\DQGLWQHYHUJDLQHGZLGHVSUHDGDFFHSWDQFH7KLV FRQVWDQWLVGHILQHGDVIROORZV
3XEOLF&RQVW06*)B''(0*5 +
,IQRQHRIWKHVHFRGHVLVSDVVHGLQPHVVDJHSURFHVVLQJVKRXOGEHVNLSSHGDQG
&DOO1H[W+RRN([VKRXOGEHFDOOHGLPPHGLDWHO\
/RFDWLRQRI7KLV+RRNLQWKH6\VWHP 7KLVKRRNLVORFDWHGLQVLGHDWKUHDG VPHVVDJHORRSDV)LJXUHLOOXVWUDWHV7KHKRRNLV FDOOHGEHIRUHWKHPHVVDJHLVSDVVHGRQWRWKHZLQGRZSURFHGXUHRUWRDQ\LQVWDOOHGVXEFODVV
SURFHGXUH
)LJXUH7KHORFDWLRQRIWKH:+B06*),/7(5KRRNLQWKHPHVVDJLQJV\VWHP
$7KUHDG6SHFLILF([DPSOH 7KHH[DPSOHDSSOLFDWLRQSUHVHQWHGKHUHLVVLPLODUWRSUHYLRXVH[DPSOHV7KHDSSOLFDWLRQ
SURYLGHVRQHEXWWRQIRULQVWDOOLQJWKH:+B06*),/7(5KRRNDQGRQHIRUXQLQVWDOOLQJWKH
KRRN$IWHU\RXLQVWDOOWKHKRRNPHVVDJHVWKDWWKH:+B06*),/7(5KRRNLQWHUFHSWVDUH
GLVSOD\HGDORQJZLWKWKHPHPEHUVRIWKH06*VWUXFWXUHIRUHDFKPHVVDJHDV)LJXUH VKRZV
)LJXUH6FUHHQVKRWRIWKH:+B06*),/7(5DSSOLFDWLRQ
7DEOHSUHVHQWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV
7KUHHLWHPVDUHSUHVHQWLQWKHVDPSOHDSSOLFDWLRQWRWHVWWKLVKRRN7KHILUVWLVDPHQXWKDW
FRQWDLQVDVLQJOHPHQXLWHP:KHQWKHKRRNLVLQVWDOOHGDQGWKLVPHQXLVXVHGWKHKRRNZLOO
LQWHUFHSWPHVVDJHVUHODWHGWRDFWLRQVSHUIRUPHGRQWKHPHQXDQGGLVSOD\WKHPLQWKHWH[W
ER[SURYLGHG0HQXPHVVDJHVWRWKHILOWHUIXQFWLRQZLWKDFRGHRI06*)B0(18$VDQRWH
\RXFDQULJKWFOLFNWKHWH[WER[RUWKHZLQGRZWLWOHEDUWRSURGXFHDSRSXSPHQX7KHKRRN DOVRZLOOLQWHUFHSWPHVVDJHVUHODWHGWRWKHVHW\SHVRIPHQXV
7KHVHFRQGLWHPLVDEXWWRQWKDWGLVSOD\VDPHVVDJHER[:KHQWKHPHVVDJHER[LV
GLVSOD\HGWKH:+B06*),/7(5KRRNZLOOLQWHUFHSWPHVVDJHVUHODWHGWRWKHPHVVDJHER[
0HVVDJHER[PHVVDJHVDUHVHQWWRWKHILOWHUIXQFWLRQZLWKDFRGHRI06*)B',$/2*%2;
:KHQWKHXVHUFOLFNVWKH2.EXWWRQWKHKRRNFHDVHVWRLQWHUFHSWPHVVDJHVIRUWKHPHVVDJH
ER[
7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
&DSWLRQ
:+B06*),/7(5+RRN7HVW
)RUP
7RS
)RUP
/HIW
)RUP
+HLJKW
)RUP
:LGWK
&RPPDQG%XWWRQ
1DPH
&RPPDQG
&RPPDQG%XWWRQ
&DSWLRQ
KRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
&RPPDQG
&RPPDQG%XWWRQ
&DSWLRQ
XQKRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG8QKRRN
&RPPDQG%XWWRQ
&DSWLRQ
0VJ%R[7HVW
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
6FUROO%DU
7RS
6FUROO%DU
/HIW
6FUROO%DU
+HLJKW
6FUROO%DU
:LGWK
7H[W%R[
0XOWL/LQH
7UXH
7H[W%R[
6FUROO%DUV
%RWK
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
7RS/HYHO0HQX
&DSWLRQ
0HQX7HVW
6XE0HQX
&DSWLRQ
'R1RWKLQJ
7KHILQDOLWHPSURYLGHGLVDVFUROOEDUVLWXDWHGWRWKHOHIWRIWKHWH[WER[:KHQ\RXXVHWKLV
VFUROOEDURUWKHRQHVWKHWH[WER[SURYLGHVPHVVDJHVSHUWDLQLQJWRWKHVFUROOEDUDUH
GLVSOD\HG6FUROOEDUPHVVDJHVDUHVHQWWRWKHILOWHUIXQFWLRQZLWKDFRGHRI
06*)B6&52//%$5
/HW VH[DPLQHWKHFRGHIRUWKLVDSSOLFDWLRQE\VWDUWLQJZLWKWKH0RGXOHEDVPRGXOH7KHFRGH
LQWKLVPRGXOHVWDUWVZLWKWKHGHFODUDWLRQRIDSULYDWHPHPEHUYDULDEOHK+RRNWKDWVWRUHVWKH
KDQGOHRIWKH:+B06*),/7(5KRRNDQGRIDSXEOLFPHPEHUYDULDEOH,V+RRNHGD%RROHDQ
IODJLQGLFDWLQJZKHWKHUWKHKRRNKDVEHHQLQVWDOOHG7KHIROORZLQJFRGHGHFODUHVWKHVHWZR
YDULDEOHV
3ULYDWHK+RRN$V/RQJ
3XEOLF,V+RRNHG$V%RROHDQ
1H[WDV([DPSOHVKRZVWKH6HW:LQGRZV+RRN([IXQFWLRQLQVWDOOVWKH
:+B06*),/7(5KRRNDQGVHWVWKH,V+RRNHGIODJWR7UXHWRLQGLFDWHWKDWWKHKRRNLV
LQVWDOOHG
([DPSOH,QVWDOOLQJWKH:+B06*),/7(5+RRN 3XEOLF6XE6HW0HVVDJH+RRN
,I,V+RRNHG7KHQ
0VJ%R['RQ WLQVWDOOWKHKRRNWZLFHRU\RXZLOOEHXQDEOHWRXQKRRNLW
(OVH
K+RRN 6HW:LQGRZV+RRN([:+B06*),/7(5$GGUHVV2I0HVVDJH3URF $SS7KUHDG,'
,V+RRNHG 7UXH (QG,I
(QG6XE
7KH5HPRYH0HVVDJH+RRNIXQFWLRQZKLFK([DPSOHLOOXVWUDWHVUHPRYHVWKH :+B06*),/7(5KRRN
([DPSOH5HPRYLQJWKH:+B06*),/7(5+RRN 3XEOLF6XE5HPRYH0HVVDJH+RRN 'LPWHPS$V/RQJ
WHPS 8QKRRN:LQGRZV+RRN([K+RRN
,V+RRNHG )DOVH
(QG6XE
7KH0HVVDJH3URFIXQFWLRQZKLFK([DPSOHVKRZVDFWVDVWKHILOWHUIXQFWLRQIRUWKH :+B06*),/7(5KRRN
([DPSOH7KH:+B06*),/7(5+RRN V)LOWHU)XQFWLRQ 3XEOLF)XQFWLRQ0HVVDJH3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
O3DUDP$V06* $V/RQJ
6HOHFW&DVHX&RGH
&DVH06*)B',$/2*%2;
)RUP7H[W7H[W )RUP7H[W7H[W 06*)B',$/2*%2;06* B
+H[O3DUDPPHVVDJH B
+:1' +H[O3DUDPKZQG B
:3$5$0 +H[O3DUDPZ3DUDP B
/3$5$0 +H[O3DUDPO3DUDP YE1HZ/LQH
&DVH06*)B0(18
)RUP7H[W7H[W )RUP7H[W7H[W 06*)B0(1806* B +H[O3DUDPPHVVDJH B +:1' +H[O3DUDPKZQG B
:3$5$0 +H[O3DUDPZ3DUDP B
/3$5$0 +H[O3DUDPO3DUDP YE1HZ/LQH &DVH06*)B6&52//%$5
)RUP7H[W7H[W )RUP7H[W7H[W 06*)B6&52//%$506* B +H[O3DUDPPHVVDJH B +:1' +H[O3DUDPKZQG B
:3$5$0 +H[O3DUDPZ3DUDP B
/3$5$0 +H[O3DUDPO3DUDP YE1HZ/LQH &DVH06*)B''(0*5
)RUP7H[W7H[W )RUP7H[W7H[W 06*)B''(0*506* B +H[O3DUDPPHVVDJH B +:1' +H[O3DUDPKZQG B
:3$5$0 +H[O3DUDPZ3DUDP B
/3$5$0 +H[O3DUDPO3DUDP YE1HZ/LQH &DVH(OVH
)RUP7H[W7H[W )RUP7H[W7H[W (/6( X&RGH
(QG6HOHFW
'R(YHQWV
0HVVDJH3URF &DOO1H[W+RRN([K+RRNX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
7KLVILOWHUIXQFWLRQVLPSO\GLVSOD\VWKHPHVVDJHVWKDWDUHIXQQHOHGWKURXJKLWDQGFDWHJRUL]HV
WKHPE\WKHX&RGHSDUDPHWHU7KH'R(YHQWVIXQFWLRQLVFDOOHGWRJLYHWKHWH[WER[WLPHWR
GLVSOD\WKHOLQHRIWH[WEHIRUHSURFHHGLQJ
OLQHRIFRGHLQWKHIXQFWLRQIURPWKLV
0HVVDJH3URF &DOO1H[W+RRN([K+RRNX&RGHZ3DUDPO3DUDP
WRWKLV
0HVVDJH3URF
$IWHUPDNLQJWKLVFKDQJHFRPSLOHDQGUXQWKHDSSOLFDWLRQ'RQRWUXQWKLVDSSOLFDWLRQLQWKLV
VWDWHLQVLGHWKH,'(EHFDXVH\RXPLJKWKDYHWRVKXWGRZQWKH,'(DORQJZLWKWKHDSSOLFDWLRQ
LILWORFNVXS1RWHWKDWLQVRPHFDVHV\RXPLJKWKDYHWRWHUPLQDWHWKHSURFHVVPDQXDOO\
WKURXJKWKH7DVN0DQDJHU$IWHUUXQQLQJWKHDSSOLFDWLRQFOLFNWKHKRRNEXWWRQIRUWKH
:+B06*),/7(5KRRNDQGWKHQWU\WRXVHWKHSURYLGHGPHQXVFUROOEDURUPHVVDJHER[
EXWWRQ$V\RXFDQVHHDIWHUWKHPRGDOORRSLVVWDUWHGIRUDQ\RIWKHVHLWHPVWKHDSSOLFDWLRQ
VWD\VLQWKHPRGDOORRSXQWLOLWLVPDQXDOO\IRUFHGWRH[LWLW
7KLVFKDQJHFDXVHVDOOPHVVDJHVWKDWSDVVWKURXJKWKLVILOWHUIXQFWLRQWREHGLVFDUGHG,IWKLV
ILOWHUIXQFWLRQUHWXUQVDQRQ]HURWKHPHVVDJHZLOOEHGLVFDUGHG%HYHU\FDUHIXOZKHQ
GLVFDUGLQJDPHVVDJHLQWKLVILOWHUIXQFWLRQ,IWKHPHVVDJHVWKDWFDXVHDPRGDOORRSWRHQG
DUHGLVFDUGHGWKHDSSOLFDWLRQFDQQRWH[LWWKHPRGDOORRSDQG\RXUDSSOLFDWLRQZLOOEHVWXFN LQVLGHWKHORRS1RWHWKDWVZLWFKLQJWRDGLIIHUHQWDSSOLFDWLRQDQGWKHQVZLWFKLQJEDFNWRWKH
RULJLQDOVWDOOHGDSSOLFDWLRQZLOOXVXDOO\IRUFHWKHPRGDOORRSWREHH[LWHG7KHRQHLQVWDQFH
ZKHUHWKLVGRHVQRWKROGWUXHLVZKHQDPHVVDJHER[LVGLVSOD\HG
([DPSOHVKRZVWKHFRGHLQWKH)RUPIUPPRGXOH7KH&RPPDQGEXWWRQFOHDUVWKH
WH[WER[RIDOOLQIRUPDWLRQDQGFDOOV6HW0HVVDJH+RRNWRLQVWDOOWKHKRRN7KH&RPPDQG
EXWWRQVLPSO\FDOOV5HPRYH0HVVDJH+RRNWRUHPRYHWKHLQVWDOOHGKRRN7KHFPG0HVVDJH
EXWWRQGLVSOD\VDPHVVDJHER[VRWKDW\RXFDQWHVWWKHHIIHFWVRIWKLVKRRNZLWKDPHVVDJH
ER[)LQDOO\WKH)RUPB4XHU\8QORDGHYHQWSURFHGXUHWHVWVWKH,V+RRNHGIODJWRGHWHUPLQHLI
WKHKRRNLVVWLOOLQVWDOOHG,IVRDPHVVDJHER[LVGLVSOD\HGLQIRUPLQJWKHXVHUWRFOLFNWKH
XQKRRNEXWWRQEHIRUHVKXWWLQJGRZQWKHDSSOLFDWLRQ,IWKHSURFHGXUHGLGQRWSHUIRUPWKLVWHVW
DQG\RXVKXWGRZQWKHDSSOLFDWLRQZLWKWKHKRRNVWLOOLQVWDOOHGD*HQHUDO3URWHFWLRQ)DXOW
*3) ZRXOGUHVXOW
([DPSOH&RGHIRUWKH)RUPIUP0RGXOH 2SWLRQ([SOLFLW
3ULYDWH6XE&RPPDQGB&OLFN
7H[W7H[W
&DOO6HW0HVVDJH+RRN (QG6XE
3ULYDWH6XE&RPPDQGB&OLFN
&DOO5HPRYH0HVVDJH+RRN (QG6XE
3ULYDWH6XEFPG0HVVDJHB&OLFN
0VJ%R[0HVVDJH)LOWHU+RRN7HVW (QG6XE
&/($183
3ULYDWH6XE)RUPB4XHU\8QORDG&DQFHO$V,QWHJHU8QORDG0RGH$V,QWHJHU ,I,V+RRNHG7KHQ &DQFHO
0VJ%R[8QKRRNEHIRUHFORVLQJRUWKH,'(ZLOOFUDVK
(QG,I
(QG6XE
&DYHDWV
QRPHVVDJHVFDQEHSRVWHGWRWKHWKUHDG VPHVVDJHTXHXH
6RPHDGGLWLRQDO06*)BPHVVDJHVDUHGHILQHGLQ:LQXVHUKEXWWKLVKRRNGRHVQRWFXUUHQWO\
LPSOHPHQWWKHP7KHVHPHVVDJHVDUHOLVWHGKHUH
3XEOLF&RQVW06*)B0$,1/223 1RWXVHGZLWK0VJ)LOWHU+RRN
3XEOLF&RQVW06*)B0$; 1RWXVHGZLWK0VJ)LOWHU+RRN
3XEOLF&RQVW06*)B0(66$*(%2; 1RWXVHGZLWK0VJ)LOWHU+RRN
3XEOLF&RQVW06*)B029( 1RWXVHGZLWK0VJ)LOWHU+RRN
3XEOLF&RQVW06*)B6,=( 1RWXVHGZLWK0VJ)LOWHU+RRN
3XEOLF&RQVW06*)B86(5 1RWXVHGZLWK0VJ)LOWHU+RRN
3XEOLF&RQVW06*)B1(;7:,1'2: 1RWXVHGZLWK0VJ)LOWHU+RRN
(YHQWKRXJKWKLVKRRNLQWHUFHSWVDVXEVHWRIWKHPHVVDJHVWKDWKRRNVVXFKDV
:+B&$//:1'352&RU:+B&$//:1'352&5(7LQWHUFHSW\RXVKRXOGVWLOOZDWFKKRZWKLV
KRRNDIIHFWV\RXUDSSOLFDWLRQ VSHUIRUPDQFH
&KDSWHU:+B6<606*),/7(5 7KH:+B6<606*),/7(5KRRNLVDFORVHUHODWLYHRIWKH:+B06*),/7(5KRRNDV,
PHQWLRQHGLQ&KDSWHU7KHVHKRRNVDUHYHU\VLPLODULQDSSHDUDQFHEXWDV\RXZLOOVHH
WKH\HDFKKDYHWKHLURZQSHFXOLDULWLHV,QWKLVFKDSWHU,ZLOOFRPSDUHDQGFRQWUDVWWKHVHWZR KRRNVDQGSUHVHQWDQH[DPSOHXVLQJWKH:+B6<606*),/7(5KRRN
'HVFULSWLRQ %RWKWKH:+B6<606*),/7(5DQGWKH:+B06*),/7(5KRRNVDOORZ\RXWRPRQLWRURU
GLVFDUGPHVVDJHVGHDOLQJZLWKPHQXVPRGDOGLDORJER[HVPHVVDJHER[HVDQGVFUROOEDUV
7KHVHPHVVDJHVDUHLQWHUFHSWHGEHIRUHWKHZLQGRZSURFHGXUHRUDQ\VXEFODVVSURFHGXUH
SURFHVVHVWKHP$VPHQWLRQHGLQ&KDSWHUWKH:+B6<606*),/7(5KRRNLQWHUFHSWV PHVVDJHVRQO\EHORQJLQJWRWKLVVHWRILWHPVEHFDXVHWKH\DOORSHUDWHZLWKLQDPRGDOORRS
6HH&KDSWHUIRUPRUHLQIRUPDWLRQDERXWWKHPRGDOORRSDQGKRZLWRSHUDWHV
'// DQGXVHLWDVDV\VWHPZLGHKRRN:KHQ\RXLQVWDOODKRRNDVDV\VWHPZLGHKRRN\RX
PXVWSODFHLWLQD'//7KLV'//LVLQMHFWHGLQWRHYHU\SURFHVVVRWKDWWKHKRRNFDQRSHUDWH RQDOOPHVVDJHVLQWKHV\VWHP&KDSWHUGLVFXVVHVWKLVLQGHWDLO
$ELJGLIIHUHQFHEHWZHHQWKH:+B6<606*),/7(5KRRNDQGWKH:+B06*),/7(5KRRNLV
WKDW\RXFDQXVHWKH:+B6<606*),/7(5KRRNRQO\DVDV\VWHPZLGHKRRNZKHUHDV\RX
FDQXVHWKH:+B06*),/7(5KRRNDVERWKDV\VWHPZLGHDQGDWKUHDGVSHFLILFKRRN
7DEOHFRPSDUHVWKH:+B6<606*),/7(5DQG:+B06*),/7(5KRRNV/RRNLQJDW
WKLVWDEOHZHFDQGHWHUPLQHWKDWWKH:+B6<606*),/7(5KRRNHVVHQWLDOO\FRQWDLQVD
VXEVHWRIWKHIXQFWLRQDOLW\RIWKH:+B06*),/7(5KRRN+RZHYHUQRWHWKHRUGHULQZKLFKWKH
V\VWHPFDOOVWKHVHWZRKRRNV:+B6<606*),/7(5KRRNVDUHDOZD\VFDOOHGEHIRUH
:+B06*),/7(5KRRNV7KHWKLQJWRUHPHPEHUKHUHLVWKDWLIDQ\RIWKH
:+B6<606*),/7(5KRRNVUHWXUQVD]HUR758( QRQHRIWKH:+B06*),/7(5KRRNVLV
FDOOHG
7DEOH$&RPSDULVRQRIWKH:+B6<606*),/7(5DQG:+B06*),/7(5+RRNV :+B6<606*),/7(5
:+B06*),/7(5
0RQLWRUVDQGGLVFDUGVPHVVDJHV
0RQLWRUVDQGGLVFDUGVPHVVDJHV
,QWHUFHSWVPHQXPHVVDJHV
,QWHUFHSWVPHQXPHVVDJHV
,QWHUFHSWVPRGDOGLDORJER[PHVVDJHV
,QWHUFHSWVPRGDOGLDORJER[PHVVDJHV
,QWHUFHSWVPHVVDJHER[PHVVDJHV
,QWHUFHSWVPHVVDJHER[PHVVDJHV
,QWHUFHSWVVFUROOEDUPHVVDJHV
,QWHUFHSWVVFUROOEDUPHVVDJHV
'RHVQRWLQWHUFHSW'\QDPLF'DWD([FKDQJH ,QWHUFHSWV''(0/PHVVDJHVZKLOHLQD 0DQDJHPHQW/LEUDU\''(0/ PHVVDJHV V\QFKURQRXVWUDQVDFWLRQ
&DQEHXVHGDVERWKDVV\VWHPZLGHDQGD
8VHGRQO\DVDV\VWHPZLGHKRRN
WKUHDGVSHFLILFKRRN
$YDLODEOHKRRNFRGHV
$YDLODEOHKRRNFRGHV06*)B''(0/
06*)B',$/2*%2;
06*)B',$/2*%2;06*)B6&52//%$5DQG
06*)B6&52//%$5DQG06*)B0(18 06*)B0(18 7KHZ3DUDPLVQRWXVHG
7KHZ3DUDPLVQRWXVHG
7KHO3DUDPFRQWDLQVDSRLQWHUWRDQ06*
7KHO3DUDPFRQWDLQVDSRLQWHUWRDQ06*
VWUXFWXUH
,QWHUFHSWVPHVVDJHVEHIRUHWKH\DUH
VWUXFWXUH
,QWHUFHSWVPHVVDJHVEHIRUHWKH\DUHSURFHVVHG
SURFHVVHG
)LOWHU)XQFWLRQ'HILQLWLRQ 7KHILOWHUIXQFWLRQSURWRW\SHIRUWKH:+B6<606*),/7(5KRRNLV
/5(68/7&$//%$&.6\V0VJ3URFLQWQ&RGH:3$5$0Z3DUDP/3$5$0O3DUDP
,WVSDUDPHWHUVDUH X&RGH
7KHFRGHWKHV\VWHPVHQGVWRWKLVILOWHUIXQFWLRQ
Z3DUDP O3DUDP
7KLVSDUDPHWHULVQRWXVHG
$SRLQWHUWRDQ06*VWUXFWXUH
, YHSUHVHQWHGWKLVIXQFWLRQSURWRW\SHLQ&EHFDXVHWKHILOWHUIXQFWLRQFDQUHVLGHRQO\LQD
:LQ'//
IXQFWLRQSURWRW\SHLQWR9%FRGHLWZRXOGORRNOLNHWKLV
3XEOLF)XQFWLRQ6\V0VJ3URF%\9DOX&RGH$V/RQJB
%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
7KHUHWXUQYDOXHIRUWKLVILOWHUIXQFWLRQVKRXOGEHWKHUHWXUQYDOXHRIWKH&DOO1H[W+RRN([
IXQFWLRQ,IWKLVIXQFWLRQLVQRWFDOOHGWKHILOWHUIXQFWLRQVKRXOGUHWXUQD]HUR,GRQRW
UHFRPPHQGVNLSSLQJWKHFDOOWR&DOO1H[W+RRN([WKRXJK)DLOLQJWRFDOOWKLVIXQFWLRQZLOOIRUFH
RWKHUILOWHUIXQFWLRQVLQWKHFKDLQWRQRWEHFDOOHG
([SODQDWLRQRI+RRN&RGHV
7KHX&RGHSDUDPHWHURIWKHILOWHUIXQFWLRQZLOOUHFHLYHDKRRNFRGH7KHIROORZLQJWKUHHFRGHV
FDQEHVHQWWRWKLVILOWHUIXQFWLRQ MSGF_DIALOGBOX
$QLQSXWHYHQWVXFKDVDPRXVHRUNH\ERDUGPHVVDJHKDVEHHQVHQWWRD
PHVVDJHER[RUDGLDORJER[)RUWKHVLPLODULWLHVDQGGLIIHUHQFHVEHWZHHQZLQGRZV
PHVVDJHER[HVDQGGLDORJER[HVVHH&KDSWHU7KHFRQVWDQWLVGHILQHGDV IROORZV
3XEOLF&RQVW06*)B',$/2*%2; MSGF_SCROLLBAR
$QLQSXWHYHQWRFFXUUHGLQDVFUROOEDU7KHFRQVWDQWLVGHFODUHGDVIROORZV
3XEOLF&RQVW06*)B6&52//%$5 MSGF_MENU
$QLQSXWHYHQWRFFXUUHGLQDPHQX7KHFRQVWDQWLVGHILQHGDVIROORZV
3XEOLF&RQVW06*)B0(18
,IQRQHRIWKHVHFRGHVLVSDVVHGLQ\RXVKRXOGVNLSWKHPHVVDJHSURFHVVLQJDQGFDOO
&DOO1H[W+RRN([LPPHGLDWHO\
/RFDWLRQRI7KLV+RRNLQWKH6\VWHP 7KHILOWHUIXQFWLRQIRUWKLVKRRNLVFDOOHGIURPZLWKLQWKHPHVVDJHORRSRIDOOUXQQLQJWKUHDGV
DV)LJXUHVKRZV7KHKRRNLVFDOOHGEHIRUHWKHPHVVDJHLVSDVVHGRQWRWKHZLQGRZ SURFHGXUHRUWRDQ\VXEFODVVSURFHGXUHWKDWKDVEHHQLQVWDOOHG
)LJXUH7KHORFDWLRQRIWKH:+B6<606*),/7(5KRRNLQWKHPHVVDJLQJV\VWHP
$6\VWHP:LGH([DPSOH 7KLVH[DPSOHVKRZVKRZWRVHWXSDQGLQVWDOODV\VWHPZLGH:+B6<606*),/7(5KRRN
:LQ'//)LUVW,ZLOOVKRZ\RXWKHFRGHFRQWDLQHGLQWKH9%(;(WKDWORDGVDQGXVHVWKH
'//)LJXUHVKRZVDVFUHHQVKRWRIWKH9%DSSOLFDWLRQ
)LJXUH6FUHHQVKRWRIWKH9%(;(
7DEOHSUHVHQWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV 7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
%RUGHU6W\OH
)L[HG'LDORJ
)RUP
&DSWLRQ
1R+RRNV,QVWDOOHG
)RUP
7RS
)RUP
/HIW
)RUP
+HLJKW
)RUP
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG+RRN
&RPPDQG%XWWRQ
&DSWLRQ
6<606*),/7(5
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG8QKRRN
&RPPDQG%XWWRQ
&DSWLRQ
81+22.
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
7KHDSSOLFDWLRQFRQWDLQVD6<606*),/7(5EXWWRQWKDWLQVWDOOVWKHV\VWHPZLGHKRRNDQGDQ
81+22.EXWWRQWKDWUHPRYHVWKHKRRN7KH9%FRGHWKDW([DPSOHLOOXVWUDWHVLV SODFHGEHKLQGHDFKEXWWRQLQWKH6\V)RUPIUPPRGXOH
([DPSOH(YHQW3URFHGXUHVIRUWKHFPG+RRNDQGFPG8QKRRN%XWWRQV 3ULYDWH6XEFPG+RRNB&OLFN
&DOO,QVWDOO (QG6XE
3ULYDWH6XEFPG8QKRRNB&OLFN &DOO8Q,QVWDOO
(QG6XE
([DPSOHVKRZVWKHFRGHEHKLQGWKH6\V0RGXOHEDVPRGXOH7KHFRGHLQFOXGHVWKH
GHFODUDWLRQVRIWZRH[WHUQDOIXQFWLRQV,QVWDOO)LOWHU'//DQG8Q,QVWDOO)LOWHU'//WKDWDUHORFDWHG
LQWKH:LQ0DLQ+RRN'OOPRGXOHDQGWKDWDUHWREHFDOOHGIURP9%FRGH7KHWZRRWKHU
IXQFWLRQV,QVWDOODQG8Q,QVWDOOFDOOWKHWZRIXQFWLRQVWKDWWKH'//GHILQHV([DPSOH DQG([DPSOHOLVWDOOWKHFRGHWKDWWKH(;(FRQWDLQV
([DPSOH7KH6\V0RGXOHEDV0RGXOH
3XEOLF'HFODUH)XQFWLRQ,QVWDOO)LOWHU'///LE?0DLQ+RRN?'HEXJ?0DLQ+RRN'OO B
$V/RQJ
3XEOLF'HFODUH)XQFWLRQ8Q,QVWDOO)LOWHU'///LE?0DLQ+RRN?'HEXJ?0DLQ+RRN'OO B
$V/RQJ
3XEOLF6XE,QVWDOO
'LPO5HW9DO$V/RQJ
O5HW9DO ,QVWDOO
,IO5HW9DO!7KHQ
6\V)RUP&DSWLRQ :+B6<606*+22.+RRN,QVWDOOHG +H[O5HW9DO
(OVH
6\V)RUP&DSWLRQ (UURU,QVWDOOLQJ+RRN +H[O5HW9DO (QG,I
(QG6XE
3XEOLF6XE8Q,QVWDOO 'LPO5HW9DO$V/RQJ
O5HW9DO 8Q,QVWDOO)LOWHU'//
0VJ%R[O5HW9DO
,IO5HW9DO 7KHQ
6\V)RUP&DSWLRQ 1R+RRNV,QVWDOOHG
(QG,I
(QG6XE
7KH'//FRQWDLQVWZRH[SRUWHGIXQFWLRQV,QVWDOO)LOWHU'//DQG8Q,QVWDOO)LOWHU'//DVZHOODV
WKHILOWHUIXQFWLRQ6\V0VJ3URF([DPSOHVKRZVWKHFRGHDGGHGWRWKH0DLQ+RRNK
KHDGHUILOH7KHILUVWOLQHGHILQHVWKH6\V0VJ3URFILOWHUIXQFWLRQDVW\SH&$//%$&.7KHUHVW
RIWKHFRGHGHILQHVWKHWZRH[SRUWHGIXQFWLRQVDV0$,1+22.B$3,0$,1+22.B$3,LVLQ
WXUQGHILQHGDVBBGHFGOVSHFGOOH[SRUW
([DPSOH7KH0DLQ+RRNK+HDGHU)LOH )XQFWLRQGHFODUDWLRQV
/5(68/7&$//%$&.6\V0VJ3URFLQWQ&RGH:3$5$0Z3DUDP/3$5$0O3DUDP
([SRUWHGFODVVHVIURPWKH0DLQ+RRNGOO
LIGHIBBFSOXVSOXV
HQGLI
H[WHUQ&^
GHILQH0$,1+22.B$3,BBGHFOVSHFGOOH[SRUW 0$,1+22.B$3,LQW,QVWDOO)LOWHU'//YRLG
0$,1+22.B$3,LQW8Q,QVWDOO)LOWHU'//YRLG LIGHIBBFSOXVSOXV `
HQGLI
([DPSOHVKRZVWKH0DLQ+RRNFSSILOH)LUVWWKHFRGHGHILQHVWZRJOREDOYDULDEOHV K,QVWDQFHDQGK+RRN7KHK,QVWDQFHYDULDEOHKROGVWKHPRGXOHKDQGOHWKDWLVSDVVHGLQWR
'OO0DLQWKH'// VHQWU\SRLQW7KH6HW:LQGRZV+RRN([IXQFWLRQXVHVWKLVYDULDEOHWRLQVWDOO
WKLVKRRNDVDV\VWHPZLGHKRRN7KHK+RRNYDULDEOHFRQWDLQVWKHKDQGOHWRWKHLQVWDOOHG
KRRN7KH6HW:LQGRZV+RRN([IXQFWLRQUHWXUQVWKLVKDQGOHDQGLWLVXVHGWKURXJKRXWWKH
FRGH1H[WWKHVKDUHGGDWDVHFWLRQLVLQFOXGHGLQFDVHDQ\GDWDQHHGVWREHVKDUHGEHWZHHQ
DOOLQVWDQFHVRIWKH'//LQRXUH[DPSOHKRZHYHUWKHUHLVQRVKDUHGGDWD)ROORZLQJWKH
VKDUHGGDWDVHFWLRQLVWKHVRXUFHFRGHIRU'OO0DLQWKHHQWU\SRLQWWRWKLV'// ([DPSOH7KH0DLQ+RRNFSS6RXUFH)LOH LQFOXGHVWGDI[K
LQFOXGH0DLQ+RRNK
LQFOXGH:,186(5+FRQWDLQVDOOWKHVHFRQVWDQWVVWUXFWVHWF
*OREDO9DULDEOHV
+$1'/( K,QVWDQFH
*OREDOLQVWDQFHKDQGOHIRU
++22. K+RRN
+RRNKDQGOH
'//
6KDUHG'$7$
SUDJPDGDWDBVHJ6+$5'$7$
SUDJPDGDWDBVHJ
'//&RGH
%22/$3,(175<'OO0DLQ+$1'/(K0RGXOH
':25'XOBUHDVRQBIRUBFDOO /392,'OS5HVHUYHG
K,QVWDQFH K0RGXOH
VZLWFKXOBUHDVRQBIRUBFDOO
^
`
^
FDVH'//B352&(66B$77$&+
FDVH'//B7+5($'B$77$&+
FDVH'//B7+5($'B'(7$&+
FDVH'//B352&(66B'(7$&+
EUHDN
UHWXUQ758( `
7KLVLVDQH[SRUWHGIXQFWLRQ XVHGWRLQVWDOOWKHKRRN
0$,1+22.B$3,LQW,QVWDOO)LOWHU'// ^
K+RRN 6HW:LQGRZV+RRN([:+B6<606*),/7(5
UHWXUQLQW K+RRN
`
+22.352& 6\V0VJ3URF+,167$1&( K,QVWDQFH
7KLVLVDQH[SRUWHGIXQFWLRQ XVHGWRXQLQVWDOOWKHKRRN
0$,1+22.B$3,LQW8Q,QVWDOO)LOWHU'//YRLG ^
`
UHWXUQ8QKRRN:LQGRZV+RRN([K+RRN
)LOWHUIXQFWLRQIRUWKH:+B6<606*),/7(5KRRN
/5(68/7&$//%$&.6\V0VJ3URFLQWQ&RGH:3$5$0Z3DUDP/3$5$0O3DUDP
^
06*
OS0VJ
OS0VJ 06* O3DUDP VZLWFKQ&RGH
^
PHVVDJHER[HV
FDVH06*)B',$/2*%2;
72'2$GGFRGHWRGHDOZLWKPRGDOGLDORJER[HVDQG
EUHDN
72'2$GGFRGHWRGHDOZLWKPHQXV
FDVH06*)B0(18
EUHDN
72'2$GGFRGHWRGHDOZLWKVFUROOEDUV
FDVH06*)B6&52//%$5
EUHDN
EUHDN
`
`
GHIDXOW
3DVVPHVVDJHVRQWRWKHQH[WKRRNLQWKHFKDLQ
UHWXUQ&DOO1H[W+RRN([K+RRNQ&RGHZ3DUDPO3DUDP
7KHH[SRUWHGIXQFWLRQ,QVWDOO)LOWHU'//ZKLFKLVORFDWHGDIWHUWKH'OO0DLQIXQFWLRQLQVWDOOVWKH
:+B6<606*),/7(5KRRNE\FDOOLQJWKH6HW:LQGRZV+RRN([IXQFWLRQ7RPRGLI\WKLV'//
WRLQVWDOOWKH:+B06*),/7(5IXQFWLRQVLPSO\UHSODFHWKH:+B6<606*),/7(5FRQVWDQW
ZLWKWKH:+B06*),/7(5FRQVWDQW7KHFRQVWDQWVWKHPVHOYHVDUHGHILQHGLQWKHZLQXVHUK
KHDGHUILOHZKLFKLVLQFOXGHGE\WKHWKLUGLQFOXGHGLUHFWLYH
7KHVHFRQGH[SRUWHGIXQFWLRQ8Q,QVWDOO)LOWHU'//XVHVWKH8QKRRN:LQGRZV+RRN([IXQFWLRQ
WRUHPRYHWKH:+B6<606*),/7(5KRRNIURPWKHSURFHVVVSDFHLQZKLFKWKH'//UHVLGHV
)LQDOO\WKH6\V0VJ3URFIXQFWLRQDFWVDVWKHILOWHUIXQFWLRQIRUWKLVKRRN$VZLWFKVWDWHPHQW
HTXLYDOHQWWRWKH9%6HOHFW&DVHVWDWHPHQW LVSURYLGHGWRGHDOZLWKHDFKW\SHRIFRGHWKDW
WKLVKRRNFDQUHWXUQ
ER[HVPHVVDJHER[HVPHQXVDQGVFUROOEDUV7KHIXQFWLRQHQGVE\FDOOLQJ&DOO1H[W+RRN([
WRDOORZRWKHULQVWDOOHGILOWHUIXQFWLRQVWREHFDOOHG
([DPSOHVKRZVWKH0DLQ+RRNGHIILOH,WV(;32576VHFWLRQOLVWVWKH'// VH[SRUWHG
IXQFWLRQV7KLVDOORZVRWKHUDSSOLFDWLRQVDQGOLEUDULHVLQFOXGLQJRXU9%DSSOLFDWLRQWRXVH
WKHVHIXQFWLRQV
([DPSOH7KH0DLQ+RRNGHI)LOH
/,%5$5<0DLQ+RRN
(;32576
,QVWDOO)LOWHU'//
#
8Q,QVWDOO)LOWHU'// #
&DYHDWV 7KLVKRRN VPRVWRXWVWDQGLQJIHDWXUHLVWKDW\RXFDQXVHLWRQO\DVDV\VWHPZLGHKRRN7KLV
PHDQVWKDWWKHILOWHUIXQFWLRQPXVWUHVLGHLQD:LQ'//7KLV'//LVLQMHFWHGLQWRHYHU\
UXQQLQJSURFHVV7KHUHIRUHWKLVKRRNFDUULHVZLWKLWDELJJHUSHUIRUPDQFHSHQDOW\WKDQ
WKUHDGVSHFLILFKRRNV
QRPHVVDJHVFDQEHSRVWHGWRWKHWKUHDG VPHVVDJHTXHXH
:DWFK\RXUUHWXUQYDOXHVEHFDXVHDUHWXUQHG]HURZLOOSUHYHQWDQ\RWKHU:+B06*),/7(5
KRRNIURPRSHUDWLQJ%HFDXVHWKLVKRRNLVLQVWDOOHGRQO\DVDV\VWHPZLGHKRRNLID]HURLV
UHWXUQHGLWPHDQVWKDWQR:+B06*),/7(5KRRNVZLOOEHFDOOHGIURPZLWKLQDQ\WKUHDG7KLV
FRXOGFDXVHRWKHUDSSOLFDWLRQVWKDWUHO\RQWKHVHKRRNVWRIDLO
6RPHDGGLWLRQDO06*)BPHVVDJHVDUHGHILQHGLQ:LQXVHUKEXWWKLVKRRNFXUUHQWO\LVQRW LPSOHPHQWLQJWKHP7KHVHPHVVDJHVDUH
3XEOLF&RQVW06*)B0$,1/223 1RWXVHGZLWK6\V0VJ)LOWHU+RRN
3XEOLF&RQVW06*)B0$; 1RWXVHGZLWK6\V0VJ)LOWHU+RRN
3XEOLF&RQVW06*)B0(66$*(%2; 1RWXVHGZLWK6\V0VJ)LOWHU+RRN
3XEOLF&RQVW06*)B029( 1RWXVHGZLWK6\V0VJ)LOWHU+RRN
3XEOLF&RQVW06*)B6,=( 1RWXVHGZLWK6\V0VJ)LOWHU+RRN
3XEOLF&RQVW06*)B86(5 1RWXVHGZLWK6\V0VJ)LOWHU+RRN
3XEOLF&RQVW06*)B1(;7:,1'2: 1RWXVHGZLWK6\V0VJ)LOWHU+RRN
(YHQWKRXJKWKLVKRRNLQWHUFHSWVDVXEVHWRIWKHPHVVDJHVWKDWKRRNVVXFKDV
:+B&$//:1'352&RU:+B&$//:1'352&5(7LQWHUFHSW\RXVKRXOGVWLOOZDWFKKRZWKLV
KRRNDIIHFWV\RXUDSSOLFDWLRQ VSHUIRUPDQFH
&KDSWHU:+B6+(// 7KLVFKDSWHUGHDOVZLWKWKH:+B6+(//KRRN,QWKLVFKDSWHU,ZLOOFRPSDUHDQG
FRQWUDVWWKLVKRRNZLWK:+B&%7DVLPLODUKRRNWKDWZLOOEHGLVFXVVHGLQ &KDSWHU
'HVFULSWLRQ 7KH:+B6+(//KRRNLVDQRWLILFDWLRQKRRN7KDWLV\RXFDQXVHLWWRQRWLI\DQ
DSSOLFDWLRQRIDFWLRQVRFFXUULQJWRLWHLWKHUWKURXJKXVHULQWHUYHQWLRQRU
WKURXJKDFKDQJHLQWKHV\VWHP VVWDWH([DPSOHVRIXVHULQWHUYHQWLRQLQFOXGH
DXVHUPLQLPL]LQJDZLQGRZSUHVVLQJDQDSSOLFDWLRQFRPPDQGEXWWRQRQWKH
PRXVHRUNH\ERDUGRUHYHQDFWLYDWLQJDZLQGRZ
1HZHUNH\ERDUGVDQGPLFHFDQLQFOXGHH[WUDDSSOLFDWLRQ
EXWWRQV7KHVHH[WUDEXWWRQVDOORZWKHXVHUWRRSHQ DSSOLFDWLRQVFRQWUROPHGLDDSSOLFDWLRQVDQGRSHQDQG
FRQWURO,QWHUQHWEURZVHUV8VLQJWKLVKRRNDQDSSOLFDWLRQ GHYHORSHUFDQDGGVXSSRUWIRUWKHVHQHZDSSOLFDWLRQ
EXWWRQVWRRQHRUPRUHRIKHUDSSOLFDWLRQV ([DPSOHVRIDFKDQJHLQV\VWHPVWDWHLQFOXGHDFKDQJHLQWKHNH\ERDUG
ODQJXDJHDFKDQJHLQWKHDFFHVVLELOLW\VWDWHRUWKHV\VWHPUHGUDZLQJWKH
ZLQGRZWLWOHWH[WLQWKHWDVNEDU7KHIROORZLQJLVDFRPSOHWHOLVWRIHYHQWVIRU
ZKLFKWKH:+B6+(//KRRNFDQSURYLGHQRWLILFDWLRQ HSHELL_ACCESSIBILITYSTATE
7KHDFFHVVLELOLW\VWDWHKDVFKDQJHG7KLVLVDQRWLILFDWLRQIRU:LQGRZV
DQGJUHDWHURSHUDWLRQV\VWHPV HSHELL_ACTIVATESHELLWINDOW
7KHVKHOOVKRXOGDFWLYDWHWKHQH[WDSSOLFDWLRQ VPDLQZLQGRZLQWKH=
RUGHURIFXUUHQWZLQGRZV HSHELL_APPCOMMAND
7KHXVHUKDVSUHVVHGDQDSSOLFDWLRQFRPPDQGEXWWRQRQWKHPRXVHRU
RQWKHNH\ERDUGDQGWKHDSSOLFDWLRQGLGQRWKDQGOHWKLVFRPPDQG
EXWWRQHYHQW$QDSSOLFDWLRQFRPPDQGEXWWRQFDQHLWKHUEHH[WUD EXWWRQVDGGHGWRDNH\ERDUGXVXDOO\XVHGWRFRQWUROPXOWLPHGLD
GHYLFHVRUH[WUDEXWWRQVDGGHGWRDPRXVHEH\RQGWKHOHIWPLGGOH
DQGULJKWEXWWRQV7KLVLVDQRWLILFDWLRQIRU:LQGRZVDQGJUHDWHU
RSHUDWLQJV\VWHPV HSHELL_GETMINRECT
7KHXVHULVHLWKHUPLQLPL]LQJRUPD[LPL]LQJWKHZLQGRZWKDWLVKRRNHG HSHELL_LANGUAGE 7KHNH\ERDUGODQJXDJHRUDQHZNH\ERDUGOD\RXWZDVORDGHG HSHELL_REDRAW
7KHWLWOHRIDZLQGRZLQWKH:LQGRZVWDVNEDUQRWWKHWLWOHLQWKH
ZLQGRZWLWOHEDU KDVEHHQUHGUDZQ HSHELL_TASKMAN
7KHXVHUKDVVWDUWHGWKH:LQGRZVWDVNOLVW HSHELL_WINDOWACTIVATED
7KHDFWLYHZLQGRZKDVFKDQJHGIURPDGLIIHUHQWWRSOHYHOXQRZQHG
ZLQGRZWKHPDLQZLQGRZRIDQDSSOLFDWLRQZKLFKGRHVQRWKDYHD KDQGOHWRDSDUHQWZLQGRZWRWKHFXUUHQWZLQGRZLHDXVHUKDV
VZLWFKHGWRWKHFXUUHQWZLQGRZWRPDNHLWWKHDFWLYHZLQGRZ HSHELL_WINDOWCREATED
$WRSOHYHOXQRZQHGZLQGRZKDVEHHQFUHDWHG7KHZLQGRZVWLOOH[LVWV
ZKHQWKHKRRN VILOWHUIXQFWLRQUHFHLYHVWKLVKRRNQRWLILFDWLRQ HSHELL_WIDNOWDESTROYED
$WRSOHYHOXQRZQHGZLQGRZLVDERXWWREHGHVWUR\HG7KHZLQGRZVWLOO
H[LVWVZKHQWKHKRRN VILOWHUIXQFWLRQUHFHLYHVWKLVKRRNQRWLILFDWLRQ
7KLVKRRNGRHVQRWDOORZWKHLQWHUFHSWHGPHVVDJHVWREHGLVFDUGHGRU
PRGLILHGLQDQ\ZD\7KHUHLVRQHH[FHSWLRQWRWKLVUXOHUHWXUQLQJD758(IURP
WKHKRRN VILOWHUIXQFWLRQZKHQLWUHFHLYHVWKH+6+(//B7$6.0$1QRWLILFDWLRQZLOO
SUHYHQWWKHWDVNPDQDJHUIURPEHLQJGLVSOD\HG
,QPRVWFDVHVWKHDFWLRQKDVDOUHDG\RFFXUUHGEHIRUHWKH:+B6+(//KRRNLV
QRWLILHG7KHRQO\WZRH[FHSWLRQVDUHZKHQDZLQGRZLVGHVWUR\HGDQGZKHQ
LWLVPLQLPL]HGPD[LPL]HG'XULQJZLQGRZGHVWUXFWLRQWKHZLQGRZVWLOOH[LVWV
ZKHQWKLVKRRNLVQRWLILHGDQGWKHQLWLVUHPRYHGIURPWKHVFUHHQDQG
GHVWUR\HGDIWHUWKHKRRN VILOWHUIXQFWLRQKDVEHHQFDOOHG:KHQDZLQGRZLV
EHLQJPLQLPL]HGRUPD[LPL]HGWKLVKRRNLVQRWLILHGWKURXJKWKH
+6+(//B*(70,15(&7KRRNFRGHEHIRUHWKHZLQGRZLVDFWXDOO\PLQLPL]HGRU
PD[LPL]HG
G\QDPLFOLQNOLEUDU\'// DQGXVHLWDVDV\VWHPZLGHKRRN$WKUHDGVSHFLILF
KRRNLQWHUFHSWVDOOPHVVDJHVZLWKLQWKHWKUHDGLQZKLFKLWLVLQVWDOOHG:KHQ \RXLQVWDOODKRRNDVDV\VWHPZLGHKRRN\RXPXVWSODFHLWLQD'//7KLV '//LVLQMHFWHGLQWRHYHU\SURFHVVVRWKDWWKHKRRNFDQRSHUDWHRQDOO PHVVDJHVLQWKHV\VWHP&KDSWHUGLVFXVVHVWKLVLQGHWDLO )LOWHU)XQFWLRQ'HILQLWLRQ 7KHILOWHUIXQFWLRQSURWRW\SHIRUWKLVKRRNLVZULWWHQDVIROORZV
3XEOLF)XQFWLRQ6KHOO3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
,WVSDUDPHWHUVDUH X&RGH
7KHFRGHWKHV\VWHPVHQGVWRWKLVILOWHUIXQFWLRQ,GLVFXVVWKHX&RGH YDOXHLQJUHDWHUGHWDLOLQ6HFWLRQ
Z3DUDP O3DUDP
7KLVSDUDPHWHUGHSHQGVRQWKHX&RGH
7KLVSDUDPHWHUGHSHQGVRQWKHX&RGH
7KHUHWXUQYDOXHIRUWKLVILOWHUIXQFWLRQVKRXOGEHWKHUHWXUQYDOXHRIWKH
&DOO1H[W+RRN([IXQFWLRQ)RUFLQJWKHUHWXUQYDOXHRIWKLVILOWHUIXQFWLRQWR
DQRWKHUYDOXHZLOOQRWDIIHFWWKHRXWFRPHRIWKHKRRNH[FHSWLQWKHFDVHRI
+6+(//B7$6.0$1,QWKLVFDVHUHWXUQLQJDYDOXHRI758(ZLOOSUHYHQWWKHWDVN
PDQDJHUIURPEHLQJGLVSOD\HG
([SODQDWLRQRI+RRN&RGHV 7KHX&RGHSDUDPHWHURIWKHILOWHUIXQFWLRQZLOOUHFHLYHDKRRNFRGH7KHUHDUH
FRGHVWKDWFDQEHVHQWWRWKLVILOWHUIXQFWLRQ7KHFRGHVDUHGHILQHGDV IROORZV HSHELL_ACCESSIBILITYSTATE
)RU:LQGRZVDQGJUHDWHURSHUDWLQJV\VWHPVWKLVFRGHLQGLFDWHV WKDWWKHDFFHVVLELOLW\VWDWHKDVFKDQJHG$FFHVVLELOLW\LVSURYLGHGLQ
:LQGRZVWRDOORZSHRSOHZLWKGLVDELOLWLHVWREHWWHUXVH:LQGRZV7KH FRGHLVGHILQHGDVIROORZV
3XEOLF&RQVW+6+(//B$&&(66,%,/,7<67$7(
7KHO3DUDPSDUDPHWHULVQRWXVHGIRUWKLVFRGHEXWWKHZ3DUDP
SDUDPHWHURIWKLVFRGHFRQWDLQVRQHRIWKHIROORZLQJWKUHHFRQVWDQWV Public Const ACCESS_STICKYKEYS = &H1
,QGLFDWHVDFKDQJHLQWKHVWLFN\NH\VVWDWH6WLFN\NH\VLVDIHDWXUHWKDW
DOORZVWKHXVHUWRSUHVVHLWKHUWKH6+,)7&75/RU$/7NH\RQFHDQG
WKHQSUHVVDQRWKHUNH\LQVHTXHQFHDVRSSRVHGWRSUHVVLQJHDFKNH\ DWWKHVDPHWLPH3UHVVLQJRQHRIWKHVHWKUHHPRGLILHUNH\VRQFH
HIIHFWLYHO\ORFNVWKHNH\LQWKHGRZQVWDWHXQWLOWKHXVHUSUHVVHVLW
DJDLQWRXQORFNLWRUXQWLOWKHXVHUFOLFNVDPRXVHEXWWRQ3UHVVLQJWKH
PRGLILHUNH\WZLFHLQVXFFHVVLRQORFNVWKHNH\LQWKHGRZQVWDWH\RX
SUHVVLWDWKLUGWLPHWRXQORFNLW7KLVIHDWXUHKHOSVSHRSOHZLWKPRWRU VNLOOGLVDELOLWLHVWRW\SHPRUHHDVLO\
SUHVVLQJWKH6+,)7NH\ILYHWLPHV Public Const ACCESS_FILTERKEYS = &H2
,QGLFDWHVWKDWRQHRIWKHIROORZLQJNH\ERDUGSURSHUWLHVKDVEHHQ FKDQJHG • • •
7LPHGHOD\EHIRUHDNH\LVDFFHSWHG 7LPHGHOD\EHIRUHDNH\LVUHSHDWHG
8VLQJVRXQGDVDIHHGEDFNPHFKDQLVP
7KLVIHDWXUHDOVRLVDYDLODEOHWRSHRSOHZLWKPRWRUVNLOOGLVDELOLWLHV
WXUQLWRQRURIIE\SUHVVLQJDQGKROGLQJWKH5,*+76+,)7NH\IRU VHFRQGV Public Const ACCESS_MOUSEKEYS = &H3
,QGLFDWHVWKDWDFKDQJHLQWKHPRXVHNH\VVWDWHKDVRFFXUUHG7KH
PRXVHNH\VIHDWXUHDOORZVWKHXVHUWRXVHWKHQXPHULFNH\SDGUDWKHU WKDQWKHPRXVHWRFRQWUROWKHPRXVH7KLVIHDWXUHLVRQFHDJDLQ
DYDLODEOHWRSHRSOHZLWKPRWRUVNLOOGLVDELOLWLHV
RURIIE\SUHVVLQJWKH/()7$/7/()76+,)7180/2&.NH\VDW
WKHVDPHWLPH HSHELL_WINDOWCREATED
,QGLFDWHVWKDWDWRSOHYHOXQRZQHGZLQGRZKDVEHHQFUHDWHGDQG
GLVSOD\HG,WLVLPSRUWDQWWRUHPHPEHUWKDWWKHZLQGRZH[LVWVZKHQWKH
KRRNLVFDOOHGZLWKWKLVFRGH7KHFRQVWDQWLVGHILQHGDVIROORZV
3XEOLF&RQVW+6+(//B:,1'2:&5($7('
7KHO3DUDPSDUDPHWHULVQRWXVHGIRUWKLVFRGHEXWWKHZ3DUDP
SDUDPHWHURIWKLVFRGHFRQWDLQVWKHKDQGOHWRWKHQHZO\FUHDWHG
ZLQGRZ HSHELL_WINDOWDESTROYED
,QGLFDWHVWKDWDWRSOHYHOXQRZQHGZLQGRZLVDERXWWREHGHVWUR\HG,W
LVLPSRUWDQWWRUHPHPEHUWKDWWKHZLQGRZKDVQRWEHHQGHVWUR\HGDW
WKLVSRLQWLQIDFWLWLVVWLOOEHLQJGLVSOD\HGRQWKHVFUHHQ7KHZLQGRZLV
DFWXDOO\UHPRYHGIURPWKHVFUHHQDQGGHVWUR\HGDIWHUWKHKRRN VILOWHU
IXQFWLRQDQGDQ\RWKHULQVWDOOHGILOWHUIXQFWLRQVIRUWKLVKRRNKDYH SURFHVVHGWKLVFRGH7KLVFRQVWDQWLVGHILQHGDVIROORZV 3XEOLF&RQVW+6+(//B:,1'2:'(6752<('
7KHO3DUDPSDUDPHWHULVQRWXVHGIRUWKLVFRGHEXWWKHZ3DUDP
SDUDPHWHURIWKLVFRGHFRQWDLQVWKHKDQGOHWRWKHZLQGRZDERXWWREH
GHVWUR\HG HSHELL_ACTIVATESHELLWINDOW
,QGLFDWHVWKDWWKHVKHOOVKRXOGDFWLYDWHLWVPDLQZLQGRZ7KHO3DUDPDQG
Z3DUDPSDUDPHWHUVDUHQRWXVHGIRUWKLVFRGH7KHFRQVWDQWLVGHILQHG
DVIROORZV
3XEOLF&RQVW+6+(//B$&7,9$7(6+(//:,1'2:
HSHELL_APPCOMMAND
)RU:LQGRZVDQGJUHDWHURSHUDWLQJV\VWHPVWKLVFRGHLQGLFDWHV WKDWWKHXVHUKDVSUHVVHGHLWKHUDPRXVHRUDNH\ERDUGDSSOLFDWLRQ
EXWWRQ7KHFRQVWDQWLVGHILQHGDVIROORZV
3XEOLF&RQVW+6+(//B$33&200$1'
7KHUHDUHWZRYHU\LPSRUWDQWWKLQJVWRXQGHUVWDQGZKHQXVLQJWKLV
FRGH)LUVWWKLVFRGHLVVHQWWRWKHKRRNRQO\ZKHQWKHDSSOLFDWLRQGRHV
QRWSURFHVVWKH:0B$33&200$1'PHVVDJHWKDWHLWKHUWKHPRXVHRU NH\ERDUGDSSOLFDWLRQEXWWRQJHQHUDWHG6HFRQGLIWKHILOWHUIXQFWLRQ
KDQGOHVWKLVFRGHLWVKRXOGQRWFDOO&DOO1H[W+RRN([DQGLQVWHDG
VKRXOGUHWXUQ758(7KLVDOORZVRQO\WKLVILOWHUIXQFWLRQWRKDQGOHWKH
+6+(//B$33&200$1'PHVVDJHDQGSUHYHQWVRWKHUILOWHUIXQFWLRQVIURP
DOVRKDQGOLQJWKLVPHVVDJH
7KHZ3DUDPSDUDPHWHUFRQWDLQVWKHKDQGOHRIWKHZLQGRZWKDWZDVWKH
RULJLQDO:0B$33&200$1'PHVVDJHGHVWLQDWLRQ
7KHO3DUDPSDUDPHWHUFRQWDLQVWKUHHVSHFLILFYDOXHVSHUWDLQLQJWRWKH
:0B$33&200$1'PHVVDJH7KHILUVWLVWKH$33&200$1'YDOXHZKLFK
\RXFDQGHULYHDVIROORZV
3XEOLF)XQFWLRQ*HW$SS&RPPDQGBO3DUDP%\5HI9DOXH$V/RQJ $V/RQJ
*HW$SS&RPPDQGBO3DUDP 9DOXH$QG +)))) $QG +)))
(QG)XQFWLRQ
7KLVYDOXHLVHTXLYDOHQWWRWKHDSSOLFDWLRQFRPPDQGWKDWFRUUHVSRQGV WRWKHPRXVHRUNH\ERDUGLQSXW7KHYDOXHIRUWKLVFDQEHDQ\RIWKH FRQVWDQWVOLVWHGLQ7DEOH
7DEOH$33&200$1'9DOXH&RQVWDQWV &RQVWDQW
/LWHUDO
'HILQLWLRQ
$33&200$1'B%$66B%2267
7RJJOHWKHEDVVERRVWRQDQGRII
$33&200$1'B%$66B'2:1
'HFUHDVHWKHEDVV
$33&200$1'B%$66B83
,QFUHDVHWKHEDVV
$33&200$1'B%52:6(5B%$&.:$5'
1DYLJDWHEDFNZDUG
$33&200$1'B%52:6(5B)$925,7(6
2SHQIDYRULWHV
$33&200$1'B%52:6(5B)25:$5'
1DYLJDWHIRUZDUG
$33&200$1'B%52:6(5B+20(
1DYLJDWHKRPH
$33&200$1'B%52:6(5B5()5(6+
5HIUHVKWKHSDJH
$33&200$1'B%52:6(5B6($5&+
2SHQVHDUFK
$33&200$1'B%52:6(5B6723
6WRSWKHGRZQORDG
$33&200$1'B/$81&+B$33
6WDUW$SS
$33&200$1'B/$81&+B$33
6WDUW$SS
$33&200$1'B/$81&+B0$,/
2SHQPDLO
$33&200$1'B0(',$B1(;775$&.
*RWRWKHQH[WWUDFN
$33&200$1'B0(',$B3/$
3OD\RUSDXVHSOD\EDFN
$33&200$1'B0(',$B35(9,28675$&.
*RWRWKHSUHYLRXVWUDFN
$33&200$1'B0(',$B6723
6WRSSOD\EDFN
$33&200$1'B75(%/(B'2:1
'HFUHDVHWKHWUHEOH
$33&200$1'B75(%/(B83
,QFUHDVHWKHWUHEOH
$33&200$1'B92/80(B'2:1
/RZHUWKHYROXPH
$33&200$1'B92/80(B087(
0XWHWKHYROXPH
$33&200$1'B92/80(B83
5DLVHWKHYROXPH
7KHQH[WSDUWRIWKHO3DUDPLVWKH'(9,&(YDOXHWKDWGHVFULEHVZKHUH
WKLVLQSXWRULJLQDWHG
3XEOLF)XQFWLRQ*HW'HYLFHBO3DUDP%\5HI9DOXH$V/RQJ $V/RQJ
*HW'HYLFHBO3DUDP 9DOXH$QG +)))) $QG + (QG)XQFWLRQ
0RVWOLNHO\WKHGHYLFHZLOOEHWKHPRXVHRUNH\ERDUG
RIWKHFRQVWDQWVLQ7DEOHDVLWVYDOXH
7DEOH'(9,&(&RQVWDQWV &RQVWDQW )$33&200$1'B.(<
/LWHUDO +
'HILQLWLRQ 8VHUSUHVVHGDNH\
)$33&200$1'B0286( +8VHUFOLFNHGDPRXVHEXWWRQ )$33&200$1'B2(0
+
$QXQLGHQWLILHGKDUGZDUHVRXUFHJHQHUDWHGWKHHYHQW,W
FRXOGEHDPRXVHRUDNH\ERDUGHYHQW
7KHILQDOSDUWRIO3DUDPLVWKH)/$*6YDOXHZKLFKLQGLFDWHVLIWKHXVHU
SUHVVHGD&75/RU6+,)7NH\ZKLOHSUHVVLQJWKHPRXVHRUNH\ERDUG
DSSOLFDWLRQEXWWRQ,WDOVRLQGLFDWHVZKLFKPRXVHEXWWRQWKHXVHU SUHVVHG
*(7B)/$*6B/3$5$0O3DUDP PDFUR
7DEOHDVLWVYDOXH
7DEOH)/$*6&RQVWDQWV &RQVWDQW
/LWHUDO
'HILQLWLRQ
0.B&21752/
+
7KH&75/NH\LVGRZQ
0.B6+,)7
+
7KH6+,)7NH\LVGRZQ
0.B/%87721
+
7KHOHIWPRXVHEXWWRQLVGRZQ
0.B0%87721
+
7KHPLGGOHPRXVHEXWWRQLVGRZQ
0.B5%87721
+
7KHULJKWPRXVHEXWWRQLVGRZQ
0.B;%87721
+
7KHILUVW;EXWWRQLVGRZQ
0.B;%87721
+
7KHVHFRQG;EXWWRQLVGRZQ
HSHELL_WINDOWACTIVATED
7KHFXUUHQWZLQGRZKDVEHHQFKDQJHGWRWKHDFWLYHZLQGRZ7KLVLV
RQO\IRUWRSOHYHOXQRZQHGZLQGRZV7KHZ3DUDPSDUDPHWHUIRUWKLV FRGHFRQWDLQVWKHKDQGOHRIWKHDFWLYDWHGZLQGRZ7KHO3DUDP
SDUDPHWHUIRUWKLVFRGHFRQWDLQV758(LIWKHZLQGRZLVPD[LPL]HGRU
)$/6(LILWLVQRW7KLVFRQVWDQWLVGHILQHGDVIROORZV 3XEOLF&RQVW+6+(//B:,1'2:$&7,9$7('
HSHELL_GETMINRECT
,QGLFDWHVWKDWWKHXVHUKDVHLWKHUPLQLPL]HGRUPD[LPL]HGWKHDFWLYH ZLQGRZ7KLVFRQVWDQWLVGHILQHGDVIROORZV 3XEOLF&RQVW+6+(//B*(70,15(&7
1RWHWKDWWKLVFRGHGRHVQRWLQGLFDWHWKDWWKHXVHULVUHVL]LQJRUPRYLQJ
WKHZLQGRZ7KHZ3DUDPSDUDPHWHUIRUWKLVFRGHFRQWDLQVWKHKDQGOHWR
WKHZLQGRZWKDWWKHXVHUPLQLPL]HGRUPD[LPL]HG7KHO3DUDP
SDUDPHWHUFRQWDLQVDSRLQWHUWRD5(&7VWUXFWXUHWKDWGHILQHVWKH
ZLQGRZVL]H
W\SH5(&7WKHLQIRUPDWLRQWKDWWKHSRLQWHUSRLQWVWR$5(&7VWUXFWXUHLV
GHILQHGLQ9LVXDO%DVLF9% DVIROORZV
3XEOLF7\SH5(&7
/HIW$V/RQJ
7RS$V/RQJ
5LJKW$V/RQJ
%RWWRP$V/RQJ (QG7\SH
HSHELL_REDRAW
,QGLFDWHVWKDWWKHZLQGRZWLWOHGLVSOD\HGLQWKH:LQGRZVWDVNEDUKDV EHHQUHGUDZQ7KLVFRGHLVQRWVHQWWRWKHILOWHUIXQFWLRQZKHQD
ZLQGRZWLWOHLVUHGUDZQLQWKHZLQGRZWLWOHEDUDVDUHVXOWRIWKHXVHU PRYLQJRUVL]LQJWKHZLQGRZ7KLVFRQVWDQWLVGHILQHGDVIROORZV 3XEOLF&RQVW+6+(//B5('5$:
7KHZ3DUDPSDUDPHWHUFRQWDLQVWKHKDQGOHWRWKHZLQGRZZKRVHWLWOH
WKHV\VWHPUHGUHZLQWKHWDVNEDU7KHO3DUDPSDUDPHWHUFRQWDLQV758(
LIWKHZLQGRZLVIODVKLQJRU)$/6(RWKHUZLVH HSHELL_TASKMAN
,QGLFDWHVWKDWWKHXVHUKDVRSHQHGWKH:LQGRZVWDVNPDQDJHU
5HWXUQLQJ758(IURPWKHILOWHUIXQFWLRQZLOOSUHYHQWWKHV\VWHPIURP
GLVSOD\LQJWKHWDVNPDQDJHU7KLVLVXVHIXOLI\RXZDQWWRUHSODFHWKH
WDVNPDQDJHUZLWKRQHRI\RXURZQGHVLJQRULI\RXZDQWWRSUHYHQWWKH
XVHUIURPGLVSOD\LQJWKHWDVNPDQDJHUDOWRJHWKHU7KLVFRQVWDQWLV GHILQHGDVIROORZV
3XEOLF&RQVW+6+(//B7$6.0$1
7KHZ3DUDPDQGO3DUDPSDUDPHWHUVDUHQRWXVHGIRUWKLVKRRNFRGH )LJXUH7KH.H\ERDUG3URSHUWLHVGLDORJER[
HSHELL_LANGUAGE
,QGLFDWHVWKDWWKHXVHUKDVFKDQJHGWKHNH\ERDUGODQJXDJHRUOD\RXW
7KHXVHUGRHVWKLVXVLQJWKH,QSXW/RFDOHVWDERIWKH&RQWURO3DQHO V
.H\ERDUGDSSOHWZKLFK)LJXUHLOOXVWUDWHV7KLVFRQVWDQWLVGHILQHG
DVIROORZV
3XEOLF&RQVW+6+(//B/$1*8$*(
6ZLWFKLQJODQJXDJHVHLWKHUWKURXJKWKLVGLDORJER[RUE\XVLQJRQHRI
WKHNH\ERDUGVKRUWFXWV/HIW$/76+,)7RU&75/6+,)7 VHQGVWKLV
FRGHWRWKLVKRRN VILOWHUIXQFWLRQ
,IQRQHRIWKHVHFRGHVLVSDVVHGLQ\RXVKRXOGVNLSPHVVDJHSURFHVVLQJDQG
FDOO&DOO1H[W+RRN([LPPHGLDWHO\
/RFDWLRQRI7KLV+RRNLQWKH6\VWHP 7KHILOWHUIXQFWLRQIRUWKLVKRRNLVFDOOHGIURPZLWKLQWKHPHVVDJHORRSRIWKHWKUHDGRUWKUHDGV
LQZKLFKWKLVKRRNKDVEHHQLQVWDOOHG)LJXUHLOOXVWUDWHVWKLV
)LJXUH7KHORFDWLRQRIWKH:+B6+(//KRRNLQWKHV\VWHP
$7KUHDG6SHFLILF([DPSOH 7KHH[DPSOHSUHVHQWHGKHUHLVDWKUHDGVSHFLILFH[DPSOHWKDWLQVWDOOVWKH:+B6+(//KRRN
DQGGLVSOD\VVKHOOQRWLILFDWLRQPHVVDJHVDVWKH\RFFXU)LJXUHSURYLGHVDVFUHHQVKRW RIWKHH[DPSOHDSSOLFDWLRQ
)LJXUH6FUHHQVKRWRIH[DPSOHDSSOLFDWLRQ
7DEOHSUHVHQWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV 8VLQJWKH$SSOLFDWLRQ 7KHDSSOLFDWLRQZRUNVOLNHWKHSUHYLRXVH[DPSOHV&OLFNWKHKRRNEXWWRQWRLQVWDOOWKHKRRN
DQGWKHXQKRRNEXWWRQWRUHPRYHWKHKRRN7KHKRRNDQGXQKRRNEXWWRQVLQWKH6+(//
IUDPHGHDOZLWKWKH:+B6+(//KRRN7KHIROORZLQJWKUHHH[WUDEXWWRQVDUHLQFOXGHGDVZHOO Create Wnd &UHDWHVDQGGLVSOD\VDIRUPXVLQJWKHFRGH/RDG)RUP TaskBar Title
&KDQJHVWKHWH[WLQWKHZLQGRZWLWOHEDUIURP:+B6+(//([DPSOHWR7LWOHRI
:LQGRZ+DV&KDQJHG1RWHWKDWFKDQJLQJWKHWRSOHYHOXQRZQHGZLQGRZ VWLWOHWH[W
FDXVHVWKHVDPHWH[WWREHGLVSOD\HGLQWKHWDVNEDUIRUWKLVZLQGRZ MsgBox
'LVSOD\VDVLPSOHPHVVDJHER[ 7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
1DPH
)RUP
)RUP
&DSWLRQ
:+B6+(//([DPSOH
)RUP
7RS
)RUP
/HIW
)RUP
+HLJKW
)RUP
:LGWK
)RUP
1DPH
)RUP
)RUP
&DSWLRQ
1(:)250
&RPPDQG%XWWRQ
1DPH
FPG+RRN
&RPPDQG%XWWRQ
&DSWLRQ
KRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG8QKRRN
&RPPDQG%XWWRQ
&DSWLRQ
XQKRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG&UHDWH:QG
&RPPDQG%XWWRQ
&DSWLRQ
&UHDWH:QG
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG7DVN%DU7LWOH
&RPPDQG%XWWRQ
&DSWLRQ
7DVN%DU7LWOH
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG0VJ%R[
&RPPDQG%XWWRQ
&DSWLRQ
0VJ%R[
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
7H[W%R[
0XOWL/LQH
7UXH
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
&OLFNLQJWKH&UHDWH:QGEXWWRQORDGVDQGGLVSOD\VDQHZ9%IRUP7KLVILUHVWKHIROORZLQJ
KRRNFRGHV
+6+(//B5('5$:KZQG)ODVKLQJ)DOVH +6+(//B:,1'2:&5($7('KZQG
+6+(//B:,1'2:$&7,9$7('KZQG0D[LPL]HG)DOVH
:KDWKDVKDSSHQHGLVWKDWWKH+6+(//B5('5$:FRGHZDVILUHGZKHQWKHWLWOHWH[WRIWKH QHZZLQGRZZDVUHGUDZQLQWKHWDVNEDU1H[WWKH+6+(//B:,1'2:&5($7('FRGHLV
ILUHGRQFHWKHQHZZLQGRZZDVFUHDWHGDQGGLVSOD\HG)LQDOO\WKH
+6+(//B:,1'2:$&7,9$7('FRGHZDVILUHGZKHQWKHQHZO\FUHDWHGZLQGRZEHFDPHWKH
DFWLYHZLQGRZ
:KHQWKLVZLQGRZLVGHVWUR\HGWKHIROORZLQJWH[WLVGLVSOD\HGLQWKHDSSOLFDWLRQ VWH[WER[
+6+(//B:,1'2:'(6752<('KZQG
+6+(//B:,1'2:$&7,9$7('KZQG0D[LPL]HG)DOVH
+6+(//B5('5$:KZQG)ODVKLQJ)DOVH
+6+(//B:,1'2:'(6752<('LQGLFDWHVWKDWWKHZLQGRZLVDERXWWREHGHVWUR\HG$WWKLV
SRLQWWKRXJKWKHZLQGRZLVVWLOOEHLQJGLVSOD\HGRQWKHVFUHHQ1H[WWKHZLQGRZLVUHPRYHG
IURPWKHVFUHHQDQGGHVWUR\HG:KHQWKLVKDSSHQVWKHQH[WZLQGRZLQWKH=RUGHUIRUWKLV
DSSOLFDWLRQZKLFKLVRXULQLWLDOPDLQZLQGRZEHFRPHVDFWLYH7KLVFDXVHVWKH
+6+(//B:,1'2:$&7,9$7('FRGHWREHILUHG)LQDOO\WKH+6+(//B5('5$:FRGHLV
ILUHGLQGLFDWLQJWKDWWKHZLQGRZWLWOHWH[WRIWKHUHFHQWO\GHVWUR\HGZLQGRZZDVUHPRYHGIURP
WKHWDVNEDU
&OLFNLQJWKH0VJ%R[EXWWRQGRHVQRWILUHDQ\:+B6+(//KRRNFRGHV7KLVLVEHFDXVHWKHVH
ZLQGRZVDUHQRWWRSOHYHOXQRZQHGZLQGRZV5HPHPEHUWKDWWKLVKRRNLQWHUFHSWVRQO\
DFWLRQVWDNHQRQWRSOHYHOXQRZQHGZLQGRZV
:KHQWKHXVHUFOLFNVWKH7DVN%DU7LWOHEXWWRQWKHIROORZLQJWH[WDSSHDUVLQWKHDSSOLFDWLRQ V
WH[WER[
+6+(//B5('5$:KZQG)ODVKLQJ)DOVH
7KHZLQGRZWLWOHWH[WLVPRGLILHGRQWKHZLQGRZDVZHOODVRQWKHWDVNEDU$IWHUWKHWH[WKDV
EHHQUHGUDZQLQWKHWDVNEDUWKH+6+(//B5('5$:KRRNFRGHLVILUHG
%ULQJLQJXSWKH:LQGRZVWDVNPDQDJHUZLOOFDXVHWKHIROORZLQJWH[WWREHGLVSOD\HGLQWKH
DSSOLFDWLRQ VWH[WER[ +6+(//B7$6.0$1
7KH+6+(//B7$6.0$1FRGHLVILUHGLQGLFDWLQJWKDWWKHXVHULVLQWKHSURFHVVRIRSHQLQJ
WKHWDVNPDQDJHUEXWWKHWDVNPDQDJHULWVHOIKDVQRW\HWEHHQRSHQHG%HFDXVHWKHWDVN
PDQDJHUKDVQRWEHHQRSHQHGLWLVSRVVLEOHWRUHWXUQD758(YDOXHIURPWKHILOWHUIXQFWLRQWR
SUHYHQW:LQGRZVIURPRSHQLQJWKHWDVNPDQDJHU
0LQLPL]LQJWKHPDLQZLQGRZFDXVHVWKHV\VWHPWRGLVSOD\WKHIROORZLQJWH[WLQWKHWH[WER[
+6+(//B*(70,15(&7KZQG 723
/()7
+(,*+7
:,'7+
7KH+6+(//B*(70,15(&7FRGHLVILUHGLQUHVSRQVHWRWKLVDFWLRQ7KLVFRGHSURYLGHVD 5(&7VWUXFWXUHLQLWVO3DUDPSDUDPHWHULQGLFDWLQJWKHWRSOHIWKHLJKWDQGZLGWKRIWKH
ZLQGRZUHFWDQJOH
5HVWRULQJWKHPDLQZLQGRZIURPLWVPLQLPL]HGVWDWHFDXVHVWKHIROORZLQJWH[WWREHGLVSOD\HG
LQWKHWH[WER[
+6+(//B:,1'2:$&7,9$7('KZQG0D[LPL]HG)DOVH
+6+(//B*(70,15(&7KZQG
723
/()7
+(,*+7 :,'7+
7KHILUVWKRRNFRGHWKDWLVILUHGLV+6+(//B:,1'2:$&7,9$7('7KLVLQGLFDWHVWKDWWKH
ZLQGRZEHLQJPD[LPL]HGLVILUVWVHWDVWKHDFWLYHZLQGRZ1H[W+6+(//B*(70,15(&7LV
ILUHGLQUHVSRQVHWRWKHZLQGRZ VUHVWRUDWLRQ7KLVFRGHSURYLGHVD5(&7VWUXFWXUHLQLWV
O3DUDPSDUDPHWHULQGLFDWLQJWKHWRSOHIWKHLJKWDQGZLGWKRIWKHZLQGRZUHFWDQJOH
0RGLI\LQJWKHNH\ERDUGODQJXDJHRUOD\RXWFDXVHVWKHIROORZLQJWH[WWREHGLVSOD\HGLQWKH
WH[WER[
+6+(//B/$1*8$*(KZQG.H\EG+DQGOH
$IWHUWKHQHZNH\ERDUGODQJXDJHRUOD\RXWLVORDGHGWKLVKRRNFRGHLVILUHG7KH.H\EG
+DQGOHFRQWDLQVDKDQGOHIRUWKHQHZNH\ERDUGODQJXDJHRUOD\RXW
,IWKHXVHUSUHVVHVDQDSSOLFDWLRQEXWWRQRQWKHPRXVHRUWKHNH\ERDUGWKHIROORZLQJKRRN
FRGHLVILUHG
+6+(//B$33&200$1''HVWLQDWLRQ$33B&0'
7KH'HVWLQDWLRQYDOXHLVWKHZLQGRZKDQGOHRIWKHPDLQZLQGRZLQRXUDSSOLFDWLRQ7KH
$33B&0'YDOXHLVDFRPELQDWLRQRIWKHDSSOLFDWLRQFRPPDQGWKHGHYLFHWKDWJHQHUDWHGWKH
FRPPDQGDQGDIODJYDOXH8VLQJWKLVLQIRUPDWLRQWKHGHYHORSHUFDQFDXVHVSHFLILFDFWLRQV
WRRFFXULQUHVSRQVHWRWKHFOLFNRIDSSOLFDWLRQEXWWRQVRQNH\ERDUGVDQGPLFH
,IWKHXVHUFKDQJHVWKHDFFHVVLELOLW\VWDWHWKHWH[WER[GLVSOD\VRQHRIWKHIROORZLQJOLQHVRI WH[W
+6+(//B$&&(66,%,/,7<67$7(Z3DUDP),/7(5.(<6
+6+(//B$&&(66,%,/,7<67$7(Z3DUDP67,&.<.(<6
+6+(//B$&&(66,%,/,7<67$7(Z3DUDP0286(.(<6
7KHYDOXHWKDWWKHZ3DUDPILHOGGLVSOD\VLQGHSHQGVRQZKDWW\SHRIDFFHVVLELOLW\VWDWHWKH
XVHUFKDQJHG
7KH&RGH
7KLVDSSOLFDWLRQFRQVLVWVRIDFRGHPRGXOHQDPHG0RGXOHEDVDVZHOODVIRUPVQDPHG
)RUPDQG)RUPWKHODWWHULVWKHDSSOLFDWLRQ VVWDUWXSIRUP7KH0RGXOHEDVPRGXOHRIWKH
DSSOLFDWLRQGHFODUHVWZRSULYDWHPHPEHUYDULDEOHV
3ULYDWHK+RRN$V/RQJ
3XEOLF,V+RRNHG$V%RROHDQ
7KHK+RRNYDULDEOHFRQWDLQVWKHKDQGOHWRWKHLQVWDOOHG:+B6+(//KRRN7KH
6HW:LQGRZ+RRN([IXQFWLRQUHWXUQVWKLVYDOXH7KH,V+RRNHGIODJLQGLFDWHVZKHWKHUWKLVKRRN
KDVEHHQLQVWDOOHG
7KH6HW6KHOO+RRNLQVWDOOVWKH:+B6+(//KRRNE\FDOOLQJWKH6HW:LQGRZV+RRN([IXQFWLRQ
DV([DPSOHVKRZV
([DPSOH,QVWDOOLQJWKH:+B6+(//+RRN 3XEOLF6XE6HW6KHOO+RRN
,I,V+RRNHG7KHQ
0VJ%R['RQ WKRRN6+(//WZLFHRU\RXZLOOEHXQDEOHWRXQKRRNLW (OVH
K+RRN 6HW:LQGRZV+RRN([:+B6+(//$GGUHVV2I6KHOO3URF$SS7KUHDG,'
,V+RRNHG 7UXH (QG,I
(QG6XE
7KH5HPRYH6KHOO+RRNVKRZQLQ([DPSOHUHPRYHVWKH:+B6+(//KRRNE\FDOOLQJ
WKH8QKRRN:LQGRZV+RRN([IXQFWLRQ
([DPSOH8QLQVWDOOLQJWKH:+B6+(//+RRN 3XEOLF6XE5HPRYH6KHOO+RRN
'LPWHPS$V/RQJ
WHPS 8QKRRN:LQGRZV+RRN([K+RRN
,V+RRNHG )DOVH
(QG6XE
7KH6KHOO3URFIXQFWLRQLQ([DPSOHDFWVDVWKHILOWHUIXQFWLRQIRUWKH:+B6+(//KRRN
7KHVHFRQGDUJXPHQWRIWKH6HW:LQGRZV+RRN([IXQFWLRQLQWKLVFDVH$GGUHVV2I6KHOO3URF
GHILQHVWKHILOWHUIXQFWLRQ7KLVIXQFWLRQVLPSO\SULQWVRXWWKHYDULRXVKRRNFRGHVDQGWKHLU
SDUDPHWHUVLQWKH7H[WWH[WER[RQWKLVDSSOLFDWLRQ VPDLQZLQGRZ ([DPSOH7KH:+B6+(//)LOWHU)XQFWLRQ
3XEOLF)XQFWLRQ6KHOO3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
'LPVWUXFW:LQGRZ6L]H$V5(&7
6HOHFW&DVHX&RGH
&DVH+6+(//B$&7,9$7(6+(//:,1'2:
)RUP7H[W7H[W )RUP7H[W7H[W +6+(//B$&7,9$7(6+(//:,1'2: B
YE1HZ/LQH
&DVH+6+(//B:,1'2:&5($7('
Z3DUDP
+DQGOHWRWKHFUHDWHGZLQGRZ
)RUP7H[W7H[W )RUP7H[W7H[W +6+(//B:,1'2:&5($7('KZQGB
Z3DUDP YE1HZ/LQH
&DVH+6+(//B:,1'2:'(6752<('
Z3DUDP
+DQGOHWRWKHGHVWUR\HGZLQGRZ
)RUP7H[W7H[W )RUP7H[W7H[W +6+(//B:,1'2:'(6752<('KZQG
B
Z3DUDP YE1HZ/LQH &DVH+6+(//B:,1'2:$&7,9$7('
Z3DUDP
O3DUDP
+DQGOHWRWKHDFWLYDWHGZLQGRZ
7KHYDOXHLV758(LIWKHZLQGRZLVLQIXOOVFUHHQPRGH
RU)$/6(RWKHUZLVH
)RUP7H[W7H[W )RUP7H[W7H[W +6+(//B:,1'2:$&7,9$7('KZQGB
Z3DUDP 0D[LPL]HG &%RROO3DUDP YE1HZ/LQH
&DVH+6+(//B*(70,15(&7
Z3DUDP
O3DUDP
+DQGOHWRWKHPLQLPL]HGRUPD[LPL]HGZLQGRZ
3RLQWHUWRD5(&7VWUXFWXUH
&RS\0HPRU\VWUXFW:LQGRZ6L]HO3DUDP/HQVWUXFW:LQGRZ6L]H
)RUP7H[W7H[W )RUP7H[W7H[W +6+(//B*(70,15(&7KZQG B Z3DUDP YE1HZ/LQH
)RUP7H[W7H[W )RUP7H[W7H[W 723B
VWUXFW:LQGRZ6L]H7RS YE1HZ/LQH
)RUP7H[W7H[W )RUP7H[W7H[W /()7B
VWUXFW:LQGRZ6L]H/HIW YE1HZ/LQH
)RUP7H[W7H[W )RUP7H[W7H[W +(,*+7B
VWUXFW:LQGRZ6L]H5LJKW YE1HZ/LQH
)RUP7H[W7H[W )RUP7H[W7H[W :,'7+B
VWUXFW:LQGRZ6L]H%RWWRP YE1HZ/LQH
&DVH+6+(//B5('5$:
Z3DUDP O3DUDP
+DQGOHWRWKHUHGUDZQZLQGRZ
7KHYDOXHLV758(LIWKHZLQGRZLVIODVKLQJRU)$/6(RWKHUZLVH
)RUP7H[W7H[W )RUP7H[W7H[W +6+(//B5('5$:KZQG Z3DUDPB
)ODVKLQJ &%RROO3DUDP YE1HZ/LQH
&DVH+6+(//B7$6.0$1
)RUP7H[W7H[W )RUP7H[W7H[W +6+(//B7$6.0$1 YE1HZ/LQH &DVH+6+(//B/$1*8$*( Z3DUDP
O3DUDP
+DQGOHWRWKHZLQGRZ
+DQGOHWRDNH\ERDUGOD\RXW
)RUP7H[W7H[W )RUP7H[W7H[W +6+(//B/$1*8$*(KZQG B Z3DUDP .H\EG+DQGOH O3DUDP YE1HZ/LQH
&DVH+6+(//B$&&(66,%,/,7<67$7(
Z3DUDP
$&&(66B),/7(5.(<6$&&(66B0286(.(<6RU
$&&(66B67,&.<.(<6
)RUP7H[W7H[W )RUP7H[W7H[W B
+6+(//B$&&(66,%,/,7<67$7(Z3DUDP
,IZ3DUDP $&&(66B),/7(5.(<67KHQ
)RUP7H[W7H[W )RUP7H[W7H[W ),/7(5.(<6 YE1HZ/LQH (OVH,IZ3DUDP $&&(66B0286(.(<67KHQ
)RUP7H[W7H[W )RUP7H[W7H[W 0286(.(<6 YE1HZ/LQH (OVH,IZ3DUDP $&&(66B67,&.<.(<67KHQ
)RUP7H[W7H[W )RUP7H[W7H[W 67,&.<.(<6 YE1HZ/LQH (QG,I
&DVH+6+(//B$33&200$1'
Z3DUDP
:LQGRZV:KHUHWKH:0B$33&200$1'PHVVDJHZDV
RULJLQDOO\VHQW O3DUDP
DSSOLFDWLRQFRPPDQGFRUUHVSRQGLQJWRWKHLQSXWHYHQW
)RUP7H[W7H[W )RUP7H[W7H[W +6+(//$33&200$1' B 'HVWLQDWLRQ Z3DUDP $33B&0' B O3DUDP YE1HZ/LQH
6LQFHZHKDQGOHWKLVPHVVDJHZHVKRXOGSUHYHQWLWIURPEHLQJ
KDQGOHGHOVHZKHUH 6KHOO3URF 7UXH ([LW)XQFWLRQ (QG6HOHFW
6KHOO3URF &DOO1H[W+RRN([K+RRNX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
7KLVILOWHUIXQFWLRQKDVWZRSRLQWVRILQWHUHVW7KHILUVWLVWKHFRGHWKDWKDQGOHVWKH
+6+(//B*(70,15(&7FDVH,WXVHV&RS\0HPRU\WRJHWWKH5(&7VWUXFWXUHIURPWKH
UHWXUQHGSRLQWHULQWKHO3DUDPSDUDPHWHU7KLVLVVRPHWKLQJWKDWZHKDYHVHHQEHIRUH7KH
VHFRQGLVWKH+6+(//B$33&200$1'FDVH,IZHKDQGOHWKLVKRRNFRGHZHQHHGWRUHWXUQ
D758(YDOXHDQGH[LWWKHIXQFWLRQDWWKLVSRLQW'RLQJWKLVSUHYHQWVDQ\RWKHULQVWDOOHG
:+B6+(//ILOWHUIXQFWLRQVIURPKDQGOLQJWKLVKRRNFRGH7KHFRGHEHKLQGWKH)RUPIUP
PRGXOHZKLFKLVVKRZQLQ([DPSOHVLPSO\FDOOVWKHIXQFWLRQVLQWKH0RGXOHEDV
PRGXOHWRLQVWDOODQGUHPRYHWKH:+B6+(//KRRN7KH&RPPDQGEXWWRQFUHDWHVDQG
GLVSOD\VDQHZIRUPWKH&RPPDQGEXWWRQFKDQJHVWKHWLWOHRIWKHPDLQZLQGRZDQGWKH
&RPPDQGEXWWRQGLVSOD\VDPHVVDJHER[7KHVHWZREXWWRQVDOORZ\RXWRWHVWVHYHUDORI
WKH:+B6+(//KRRNFRGHV
([DPSOH7KH&RGHIRU)RUPIUP 3ULYDWH6XE&RPPDQGB&OLFN
7H[W7H[W
&DOO6HW6KHOO+RRN
(QG6XE
3ULYDWH6XE&RPPDQGB&OLFN
&DOO5HPRYH6KHOO+RRN
(QG6XE
3ULYDWH6XE&RPPDQGB&OLFN
)RUP6KRZ
(QG6XE
3ULYDWH6XE&RPPDQGB&OLFN
,I0H&DSWLRQ 7LWOH2I:LQGRZ+DV&KDQJHG7KHQ
0H&DSWLRQ :+B6+(//([DPSOH
(OVH
0H&DSWLRQ 7LWOH2I:LQGRZ+DV&KDQJHG
(QG,I
(QG6XE
3ULYDWH6XE&RPPDQGB&OLFN
0VJ%R[7KH:+B6+(//KRRNGRHVQRWDFNQRZOHGJHWKHFUHDWLRQRIWKLVPHVVDJHER[
(QG6XE
&/($183
3ULYDWH6XE)RUPB4XHU\8QORDG&DQFHO$V,QWHJHU8QORDG0RGH$V,QWHJHU ,I,V+RRNHG2U,V'%*+RRNHG7KHQ
&DQFHO
0VJ%R[8QKRRNEHIRUHFORVLQJRUWKH,'(ZLOOFUDVK
(QG,I
(QG6XE
&DYHDWV $VZLWKDOOKRRNVSHUIRUPDQFHQHHGVWREHDWRSFRQVLGHUDWLRQDOWKRXJKWKLVKRRNFDUULHVD
VPDOOHUSHUIRUPDQFHSHQDOW\WKDQPRVWRWKHUKRRNV7KLVLVEHFDXVHWKLVKRRNLQWHUFHSWV
IHZHUPHVVDJHVWKDQRWKHUKRRNVGR)RUH[DPSOHWKH:+B0286(KRRNLQWHUFHSWVPDQ\
PHVVDJHVHYHU\VHFRQGPDLQO\PHVVDJHVVXFKDV:0B0286(029(7KH:+B6+(//
KRRNLQWHUFHSWVPHVVDJHVDWDKLJKHUOHYHO%\WKLV,PHDQWKDWLQVWHDGRIFDOOLQJWKHKRRN V
ILOWHUIXQFWLRQIRUDOOPHVVDJHVWKDWDUHHLWKHUVHQWRUSRVWHGWRFUHDWHDZLQGRZLWZDLWVXQWLO
WKHZLQGRZKDVEHHQFUHDWHGDQGWKHQDWWKDWSRLQWLWVILOWHUIXQFWLRQLVFDOOHG
7ZRRIWKHFRGHVWKDWWKLVKRRNLPSOHPHQWVZRUNRQO\RQ:LQGRZVDQGJUHDWHU
RSHUDWLQJV\VWHPV7KHVHFRGHVDUH +6+(//B$&&(66,%,/,7<67$7(
+6+(//B$33&200$1'
:HVKRXOGSD\DWWHQWLRQWRZKHQWKHKRRN VILOWHUIXQFWLRQLVFDOOHG)RULQVWDQFHZKHQ
ZLQGRZLVFUHDWHGWKH+6+(//B:,1'2:&5($7('FRGHLVILUHGDIWHUWKHZLQGRZLV
FUHDWHGDQGGLVSOD\HG+RZHYHULIWKHZLQGRZLVEHLQJGHVWUR\HGWKH
+6+(//B:,1'2:'(6752<('FRGHLVILUHGEHIRUHWKHZLQGRZLVUHPRYHGIURPWKHVFUHHQ
DQGGHVWUR\HG
7KH+6+(//B7$6.0$1FRGHLVILUHGEHIRUHWKH:LQGRZVWDVNPDQDJHULVRSHQHG7KLVLV
WKHRQO\KRRNFRGHWKDWDOORZV\RXWRUHWXUQD758(YDOXHWRSUHYHQWWKHDFWLRQIURP
RFFXUULQJ1RRWKHUKRRNFRGHVKDYHWKLVDELOLW\
,WLVLPSRUWDQWWRUHPHPEHUWKDWWKH+6+(//B$33&200$1'KRRNFRGHLVILUHGRQO\LIWKH DSSOLFDWLRQLWVHOIKDVQRWSURFHVVHGWKH:0B$33&200$1'PHVVDJH$OVRNHHSLQPLQG
WKDWLIWKHILOWHUIXQFWLRQSURFHVVHVWKLVPHVVDJH\RXVKRXOGLPPHGLDWHO\UHWXUQD758(WR
SUHYHQWWKH&DOO1H[W+RRN([IXQFWLRQIURPEHLQJFDOOHG
$QGUHPHPEHUWKLVKRRNRSHUDWHVRQO\RQWRSOHYHOXQRZQHGZLQGRZV7KLVKRRNLJQRUHV
PHVVDJHER[HVDQGRWKHUYDULRXVRZQHGRUFKLOGZLQGRZV
&KDSWHU:+B&%7
DSSOLFDWLRQV$&%7DSSOLFDWLRQWUDLQVDXVHUWRXVHDQDSSOLFDWLRQ8VXDOO\LWZLOOSUHVHQWD WH[WEDVHGVHWRILQVWUXFWLRQVIRUXVLQJWKHDSSOLFDWLRQKRZHYHULWDOVRFDQFRQWDLQ
PXOWLPHGLDGHPRQVWUDWLRQV%XWWKHUHDOSRZHURI&%7LVLWVDELOLW\WRZDONWKHXVHUWKURXJK
VSHFLILFSLHFHVRIWKHDSSOLFDWLRQLQZKLFKWKHXVHULVEHLQJWUDLQHG7KHUHDOPDJLFEHKLQG
&%7LVWKH:+B&%7KRRNDOWKRXJK\RXFDQW\SLFDOO\XVHRWKHUKRRNVDVZHOOLQFOXGLQJWKH
:+B-2851$/3/$<%$&.KRRNDQGWKH:+B0286(DQG:+B.(<%2$5'KRRNV
/HW VVWHSWKURXJKDSRUWLRQRIDQH[DPSOH&%7DSSOLFDWLRQLQWKLVFDVHDVLPSOHRQHLQ
ZKLFKWKHXVHULVOHDUQLQJKRZWRVDYHDQ([FHOVSUHDGVKHHW:KHQWKH&%7DSSOLFDWLRQ
VWDUWVDQ([FHODSSOLFDWLRQDQGRSHQVDVDPSOHVSUHDGVKHHWLWJDWKHUVVRPHJHQHUDO
LQIRUPDWLRQDERXWWKHDSSOLFDWLRQWKDWZLOOWHOOLWZKDWWKHXVHULVGRLQJLQ([FHOLQFOXGLQJ • • • •
7KH3URFHVV,'
7KHKDQGOHWRWKHWRSOHYHOZLQGRZ
7KHKDQGOHWRWKHPDLQPHQX
7KHSRVLWLRQRIWKHWRSOHYHOZLQGRZ
1H[WWKHDSSOLFDWLRQSUHVHQWVWKHXVHUZLWKLQVWUXFWLRQVRQKRZWRVDYHDVSUHDGVKHHW
SRVVLEO\LQFOXGLQJDPXOWLPHGLDSUHVHQWDWLRQDVZHOO$IWHUUHDGLQJWKHH[SODQDWLRQWKHXVHULV
SURPSWHGWRSHUIRUPWKH6DYHRSHUDWLRQRQWKHUXQQLQJLQVWDQFHRI([FHO7KLVLVZKHUHWKH
:+B&%7KRRNFRPHVLQWRSOD\WKHKRRNLVLQVWDOOHGEHIRUHWKHXVHUDFWXDOO\SHUIRUPVWKH
6DYHRSHUDWLRQDQGLVUHOHDVHGDIWHUWKHXVHULVILQLVKHGSHUIRUPLQJWKHRSHUDWLRQDQGWKH
KRRNLVQRORQJHUQHHGHG:KLOHLWLVLQVWDOOHGWKHKRRNPDNHVLWSRVVLEOHWRZDWFKNH\
DFWLRQVWKDWWKHXVHUPDNHV7KH&%7PLJKWDOVRQHHGWRLQVWDOOWKH:+B0286(DQGRU
:+B.(<%2$5'KRRNVVRWKDWLWFDQEHQRWLILHGRIPRUHVSHFLILFDFWLRQVWKDWWKHXVHULV
SHUIRUPLQJZKLFKWKH:+B&%7KRRNPLJKWQRWEHDEOHWRVHH
8VLQJWKH:+B&%7KRRNWKH&%7DSSOLFDWLRQFDQZDWFKWKHXVHUVHOHFWWKH)LOHPHQXLWHP
DQGWKHQFOLFNWKH6DYHPHQXLWHP,IWKLVLVWKHILUVWWLPHWKHVSUHDGVKHHWLVEHLQJVDYHGD 6DYHGLDORJZLOOEHGLVSOD\HGDOORZLQJWKHXVHUWRFKRRVHZKHUHDQGKRZWRVDYHWKH
VSUHDGVKHHW7KH:+B&%7KRRNDOVRFDQVHHWKH6DYHGLDORJEHLQJGLVSOD\HGDQGZLOOIROORZ
WKHXVHU VDFWLRQVZLWKLQWKH6DYHGLDORJ,IWKHXVHUGHYLDWHVIURPWKHZD\WKDWWKH&%7
DSSOLFDWLRQZDQWVWKHXVHUWRVDYHDVSUHDGVKHHWWKHQWKH&%7DSSOLFDWLRQFDQUDLVHD
ZDUQLQJVWDWLQJWKDWWKHXVHULVQRWIROORZLQJWKHFRUUHFWSURFHGXUH7KLVLVDGLIILFXOWSURFHVV
IRUWKH&%7DSSOLFDWLRQWRSHUIRUPEHFDXVHWKHXVHUFDQSHUIRUPPDQ\GLIIHUHQWDFWLRQVDQG
HYHQVDYHWKHVSUHDGVKHHWLQPDQ\GLIIHUHQWZD\V)RUH[DPSOHWKHXVHUFRXOGXVHWKH&WUO
6NH\FRPELQDWLRQRUWKH)LOH
6DYHRU)LOH
6DYH$VPHQXFRPPDQGVWRVDYHWKH
VSUHDGVKHHW7KLVLVWKHUHDOFKDOOHQJHRIFUHDWLQJD&%7DSSOLFDWLRQ
,IWKHXVHUFRPSOHWHVWKH6DYHRSHUDWLRQFRUUHFWO\WKH&%7DSSOLFDWLRQFDQGLVSOD\D
FRQJUDWXODWRU\PHVVDJH+RZHYHULIWKHXVHUIDLOVWRFRPSOHWHWKHRSHUDWLRQFRUUHFWO\RULQ
WKHULJKWRUGHUWKH&%7DSSOLFDWLRQFDQSURPSWWKHXVHUWRVKRZWKHFRUUHFWSURFHVV7KLVLV
ZKHUHWKH:+B-2851$/3/$<%$&.KRRNFRPHVLQWRSOD\
SOD\EDFNDSUHUHFRUGHGVWULQJRIPHVVDJHVDJDLQVWWKH([FHODSSOLFDWLRQ7KLVVWULQJRI
PHVVDJHVPLJKWORRNVRPHWKLQJOLNHWKLV
3RVLWLRQWKHPRXVHSRLQWHURYHUWKH([FHODSSOLFDWLRQ V)LOHPHQX &OLFNWKH)LOHPHQX
3RVLWLRQWKHPRXVHSRLQWHURYHUWKH6DYHPHQXLWHP
&OLFNWKH6DYHPHQXLWHP7KH6DYHGLDORJER[LVGLVSOD\HGKHUHZLWKWKHIRFXVRQ WKH)LOHQDPHWH[WER[
$ILOHQDPHLVW\SHGLQWRWKH)LOHQDPHWH[WER[LQWKH6DYHGLDORJER[
7KHFRUUHFWGLUHFWRU\LQZKLFKWRVDYHWKHILOHLVFKRVHQ
7KH6DYHEXWWRQLVFOLFNHG
$IWHUWKLVVWULQJRISUHUHFRUGHGPHVVDJHVLVSOD\HGEDFNWKH:+B-2851$/3/$<%$&.
KRRNLVUHOHDVHGDQGWKHXVHUFDQUHWU\WKHRSHUDWLRQRUJREDFNWRUHUHDGWKHILQHUSRLQWVRI
VDYLQJDVSUHDGVKHHW
$V\RXFDQVHHWKH:+B&%7KRRNLVFHQWUDOWRZULWLQJ&%7DSSOLFDWLRQV%XWEHFDXVHRIWKH
DPRXQWRIIXQFWLRQDOLW\EXLOWLQWRWKLVKRRN\RXPLJKWILQGPDQ\RWKHULQWHUHVWLQJXVHVIRUWKLV
KRRNDVZHOO
:LWKWKHGHVFULSWLRQRI&%7RXWRIWKHZD\OHW VJHWLQWRWKHQXWVDQGEROWVRIWKH:+B&%7
KRRN
'HVFULSWLRQ 7KH:+B&%7KRRNFDSWXUHVDZLGHYDULHW\RILQIRUPDWLRQDERXWWKHDFWLRQVDXVHULV
SHUIRUPLQJRQWKHV\VWHP7KHV\VWHPQRWLILHVWKH:+B&%7KRRNEHIRUHDQ\RIWKHIROORZLQJ
DFWLRQVRFFXU • • • • • • • •
$ZLQGRZLVFUHDWHG
$ZLQGRZLVGHVWUR\HG $ZLQGRZLVDFWLYDWHG $ZLQGRZLVPRYHG $ZLQGRZLVVL]HG
$ZLQGRZLVPLQLPL]HG
$ZLQGRZLVPD[LPL]HG
7KHLQSXWIRFXVLVVHWWRDGLIIHUHQWZLQGRZ
• • • •
$XVHUFRPSOHWHVDV\VWHPFRPPDQG6\VWHPFRPPDQGVRULJLQDWHIURPDZLQGRZ V
V\VWHPPHQXPD[LPL]HEXWWRQPLQLPL]HEXWWRQUHVWRUHEXWWRQRUFORVHEXWWRQ
$PRXVHPHVVDJHLVUHPRYHGIURPWKHUDZLQSXWWKUHDG5,7
$NH\ERDUGPHVVDJHLVUHPRYHGIURPWKH5,7
7KHFXUUHQWWKUHDGLVV\QFKURQL]HGZLWKWKH5,7
%HFDXVHWKLVQRWLILFDWLRQRFFXUVEHIRUHDQ\RIWKHVHDFWLRQV\RXFDQSUHYHQWWKHDFWLRQIURP
RFFXUULQJE\SDVVLQJEDFNDQRQ]HURUHWXUQYDOXHIURPWKHILOWHUIXQFWLRQ
'// DQGXVHLWDVDV\VWHPZLGHKRRN$WKUHDGVSHFLILFKRRNLQWHUFHSWVDOOPHVVDJHV
ZLWKLQWKHWKUHDGLQZKLFKLWLVLQVWDOOHG:KHQ\RXLQVWDOODKRRNDVDV\VWHPZLGHKRRN\RX
PXVWSODFHLWLQD'//7KLV'//LVLQMHFWHGLQWRHYHU\SURFHVVVRWKDWWKHKRRNFDQRSHUDWH RQDOOPHVVDJHVLQWKHV\VWHP&KDSWHUGLVFXVVHVWKLVLQGHWDLO
)LOWHU)XQFWLRQ'HILQLWLRQ 7KHILOWHUIXQFWLRQIRUWKH:+B&%7KRRNLVGHILQHGDVIROORZV
3XEOLF)XQFWLRQ&%73URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
7KHILOWHUIXQFWLRQ VSDUDPHWHUVDUHGHILQHGDVIROORZV X&RGH
7KHFRGHWKHV\VWHPSDVVHVLQWRWKHIXQFWLRQ7KHQH[WVHFWLRQH[SODLQVWKHYDOLG
FRGHVIRUWKLVKRRN
Z3DUDP O3DUDP
7KHYDOXHGHSHQGVRQWKHX&RGHWKDWLVSDVVHGWRWKHIXQFWLRQ
7KHYDOXHGHSHQGVRQWKHX&RGHWKDWLVSDVVHGWRWKHIXQFWLRQ
7KHUHWXUQYDOXHIRUWKLVILOWHUIXQFWLRQVKRXOGEHWKHUHWXUQYDOXHRIWKH&DOO1H[W+RRN([
IXQFWLRQ,IWKLVIXQFWLRQLVQRWFDOOHGUHWXUQD]HUR7RSUHYHQWWKHDFWLRQIURPRFFXUULQJ
UHWXUQD,GRQRWUHFRPPHQGVNLSSLQJWKHFDOOWR&DOO1H[W+RRN([WKRXJK)DLOLQJWRFDOO
WKLVIXQFWLRQZLOOSUHYHQWRWKHUILOWHUIXQFWLRQVLQWKHFKDLQIURPEHLQJFDOOHG
7KHX&RGHVHQWWRWKLVIXQFWLRQZLOOHLWKHUEHRQHRIWKH+&%7B FRGHVVSHFLILFDOO\XVHGZLWK
WKLVKRRNRUDQHJDWLYHQXPEHU,IDQ\RIWKH+&%7B FRGHVLVSDVVHGDVDQDUJXPHQWWKH
ILOWHUIXQFWLRQVKRXOGSURFHVVWKHLQIRUPDWLRQSDVVHGWRLW,IWKHX&RGHDUJXPHQWLVDQHJDWLYH
QXPEHU\RXVKRXOGFDOO&DOO1H[W+RRN([LPPHGLDWHO\DQGWKHILOWHUIXQFWLRQVKRXOGQRW
SURFHVVDQ\LQIRUPDWLRQSDVVHGWRLW
([SODQDWLRQRI+RRN&RGHV
7KHV\VWHPFDQVHQGWKHIROORZLQJKRRNFRGHVWRWKLVKRRN%HFDXVHWKHO3DUDPDQG
Z3DUDPSDUDPHWHUVIRUWKLVKRRNIXQFWLRQGHSHQGRQWKHKRRNFRGHHDFKFRGHGHVFULSWLRQ
DOVRFRQWDLQVDGHILQLWLRQRIWKHFRGH VFRUUHVSRQGLQJO3DUDPDQGZ3DUDPSDUDPHWHUV7KH
FRGHVDUH HCBT_SETFOCUS
1RWLILHVWKHKRRNWKDWWKHXVHULVFDXVLQJDQHZFRQWUROFRQWDLQHGLQDZLQGRZWR
UHFHLYHWKHIRFXV,QWKLVFDVHDZLQGRZUHIHUVRQO\WRDFRQWUROFRQWDLQHGZLWKLQD
SDUHQWZLQGRZ7KHUHIRUHWKH:+B&%7KRRNZLOOEHVHQWWKLVFRGHZKHQHYHUWKH
XVHUFKDQJHVWKHDFWLYHFRQWURORQDZLQGRZWRDQHZFRQWUROEXWQRWZKHQWKHXVHU
FKDQJHVWKHDFWLYHZLQGRZWRDGLIIHUHQWZLQGRZ7KHILOWHUIXQFWLRQFDQUHWXUQD
QRQ]HURYDOXHWRSUHYHQWWKHQHZFRQWUROIURPJDLQLQJWKHIRFXV7KHRWKHU
SDUDPHWHUVSDVVHGWRWKHILOWHUIXQFWLRQDUH
Z3DUDP O3DUDP
7KHK:QGRIWKHZLQGRZJDLQLQJWKHIRFXV
7KHK:QGRIWKHZLQGRZORVLQJWKHIRFXV
7KH+&%7B6(7)2&86FRQVWDQWLVGHILQHGDVIROORZV 3XEOLF&RQVW+&%7B6(7)2&86 HCBT_ACTIVATE
1RWLILHVWKHKRRNWKDWWKHXVHULVDFWLYDWLQJDGLIIHUHQWZLQGRZ,QWKLVFDVHWKHKRRN
LVQRWLILHGRQO\ZKHQDZLQGRZLHD9LVXDO%DVLF9% IRUPUDWKHUWKDQDFRQWURO
LVDFWLYDWHGXVH+&%7B6(7)2&86WRGHWHUPLQHZKHQDFRQWUROUHFHLYHVWKHIRFXV
1RWHKRZHYHUWKDWXVXDOO\DFRQWUROLVJLYHQWKHIRFXVRQDQHZO\DFWLYDWHGZLQGRZ
,QWKHVHFDVHV\RXZLOOVHH+&%7B$&7,9$7(IROORZHGLPPHGLDWHO\E\
+&%7B6(7)2&867KHILOWHUIXQFWLRQFDQUHWXUQDQRQ]HURYDOXHWRSUHYHQWWKH
ZLQGRZIURPEHLQJDFWLYDWHG7KHRWKHUSDUDPHWHUVSDVVHGWRWKHILOWHUIXQFWLRQDUH
Z3DUDP O3DUDP
7KHK:QGRIWKHZLQGRZWKDWLVDERXWWREHFRPHDFWLYH
$SRLQWHUWRD&%7$&7,9$7(6758&7VWUXFWXUHZKLFKLVGHILQHGDVIROORZV
3XEOLF7\SH&%7$&7,9$7(6758&7
I0RXVH$V/RQJ
K:QG$FWLYH$V/RQJ (QG7\SH
7DEOHGHVFULEHVWKHPHPEHUVRIWKH&%7$&7,9$7(6758&7VWUXFWXUH 7DEOH0HPEHUVRIWKH&%7$&7,9$7(6758&76WUXFWXUH 0HPEHU I0RXVH
'HVFULSWLRQ 7UXHLIDPRXVHFOLFNDFWLYDWHGWKHZLQGRZRWKHUZLVH)DOVHLQGLFDWLQJWKDW
VRPHWKLQJHOVHVXFKDVDQ$/77$%NH\FRPELQDWLRQDFWLYDWHGWKHZLQGRZ
K:QG$FWLYH7KHKZQGRIWKHDFWLYHZLQGRZ 7KLVFRQVWDQWLVGHILQHGDVIROORZV
3XEOLF&RQVW+&%7B$&7,9$7( HCBT_MINMAX
1RWLILHVWKHKRRNWKDWWKHXVHULVDERXWWRPLQLPL]HRUPD[LPL]HDZLQGRZ7KHILOWHU
IXQFWLRQFDQUHWXUQDQRQ]HURYDOXHWRSUHYHQWWKHPLQLPL]HRUPD[LPL]HRSHUDWLRQ
7KHRWKHUSDUDPHWHUVSDVVHGWRWKHILOWHUIXQFWLRQDUH Z3DUDP
7KHK:QGWRWKHZLQGRZWKDWWKHXVHULVPLQLPL]LQJRUPD[LPL]LQJ O3DUDP
7KHORZRUGHUZRUGRIWKLVSDUDPHWHULVRQHRIWKHIROORZLQJYDOXHV 3XEOLF&RQVW6:B0$;,0,=( 0D[LPL]HVWKHZLQGRZ
3XEOLF&RQVW6:B0,1,0,=( 0LQLPL]HVWKHZLQGRZ
3XEOLF&RQVW6:B6+2:0$;,0,=(' $FWLYDWHVDQGPLQLPL]HVWKHZLQGRZ
3XEOLF&RQVW6:B6+2:0,1,0,=(' $FWLYDWHVDQGPD[LPL]HVWKHZLQGRZ
3XEOLF&RQVW6:B6+2:0,112$&7,9( 0LQLPL]HVWKHZLQGRZDQG
GRHVQRWDFWLYDWHLW
7KHKLJKRUGHUZRUGRIWKLVSDUDPHWHULVXQGHILQHG7RILQGWKHORZRUGHUZRUGRI
O3DUDPVLPSO\$1'O3DUDPZLWKWKHYDOXH +)))) 7KH+&%7B0,10$;FRQVWDQWLVGHILQHGDVIROORZV
3XEOLF&RQVW+&%7B0,10$; HCBT_MOVESIZE
1RWLILHVWKHKRRNWKDWWKHXVHULVDERXWWRPRYHRUVL]HDZLQGRZ7KHILOWHUIXQFWLRQ
FDQUHWXUQDQRQ]HURYDOXHWRSUHYHQWWKHZLQGRZIURPEHLQJPRYHGRUVL]HG7KH RWKHUSDUDPHWHUVSDVVHGWRWKHILOWHUIXQFWLRQDUH Z3DUDP
7KHK:QGRIWKHZLQGRZWKDWWKHXVHULVPRYLQJRUVL]LQJ O3DUDP
3RLQWHUWRD5(&7VWUXFWXUHZKLFKLVGHILQHGDVIROORZV
3XEOLF7\SH5(&7 /HIW$V/RQJ
7RS$V/RQJ
5LJKW$V/RQJ
%RWWRP$V/RQJ (QG7\SH
ZKHQWKHXVHULVPRYLQJLWRUWKHILQDOVL]HRIDZLQGRZZKHQWKHXVHULVVL]LQJLW 7KH+&%7B029(6,=(FRQVWDQWLVGHILQHGDVIROORZV
3XEOLF&RQVW+&%7B029(6,=( HCBT_DESTROYWND
1RWLILHVWKHKRRNWKDWDZLQGRZLVDERXWWREHGHVWUR\HG7KHILOWHUIXQFWLRQFDQUHWXUQ
DQRQ]HURYDOXHWRSUHYHQWWKHZLQGRZ VGHVWUXFWLRQ7KHRWKHUSDUDPHWHUVSDVVHGWR
WKHILOWHUIXQFWLRQDUH Z3DUDP
7KHK:QGWRWKHZLQGRZDERXWWREHGHVWUR\HG O3DUDP
1RWXVHG
7KHFRQVWDQWLVGHILQHGDVIROORZV
3XEOLF&RQVW+&%7B'(6752<:1' HCBT_CREATEWND
1RWLILHVWKHKRRNWKDWWKHXVHULVDERXWWRFUHDWHDZLQGRZ7KHRWKHUSDUDPHWHUV SDVVHGWRWKHILOWHUIXQFWLRQDUH
Z3DUDP O3DUDP
7KHK:QGRIWKHZLQGRZWKDWWKHXVHULVDERXWWRFUHDWH $SRLQWHUWRD&%7B&5($7(:1'VWUXFWXUHZKLFKLVGHILQHGDVIROORZV
3XEOLF7\SH&%7B&5($7(:1'
OSFV$V&5($7(6758&7
K:QG,QVHUW$IWHU$V/RQJ
(QG7\SH
7DEOHVKRZVWKHPHPEHUVRIWKH&%7B&5($7(:1'VWUXFWXUH 7DEOH0HPEHUVRIWKH&%7B&5($7(:1'6WUXFWXUH 0HPEHU
'HVFULSWLRQ 3RLQWHUWRD&5($7(6758&7VWUXFWXUHZKLFKLVGHILQHGDVIROORZV
3XEOLF7\SH&5($7(6758&7
OS&UHDWH3DUDPV$V/RQJ K,QVWDQFH$V/RQJ K0HQX$V/RQJ
K:QG3DUHQW$V/RQJ
F\$V/RQJ OSFV
F[$V/RQJ \$V/RQJ
[$V/RQJ
VW\OH$V/RQJ
OSV]1DPH$V6WULQJ OSV]&ODVV$V6WULQJ ([6W\OH$V/RQJ (QG7\SH
,GLVFXVVHGWKLVVWUXFWXUHLQGHWDLOLQ&KDSWHU
PHPEHUVRIWKLVVWUXFWXUHWRFKDQJHWKHSURSHUWLHVRIWKHQHZZLQGRZ)RU
LQVWDQFH\RXFDQVXEVWLWXWHDQHZPHQXKDQGOHLQWKHK0HQXPHPEHURU
\RXFDQPRGLI\WKH[\F[DQGF\PHPEHUVWRFKDQJHWKHLQLWLDOSRVLWLRQ
DQGVL]HRIWKHZLQGRZ
7KHK:QGRIWKHZLQGRZZKRVHSRVLWLRQLQWKH=RUGHULVWRSUHFHGHWKH
K:QG,QVHUW$IWHU ZLQGRZEHLQJFUHDWHG
7KH+&%7B&5($7(:1'FRQVWDQWLVGHILQHGDVIROORZV
3XEOLF&RQVW+&%7B&5($7(:1' HCBT_SYSCOMMAND
1RWLILHVWKHKRRNWKDWDV\VWHPFRPPDQGLVDERXWWREHSURFHVVHG7KHILOWHUIXQFWLRQ
FDQUHWXUQDQRQ]HURYDOXHWRGLVDEOHWKHV\VWHPFRPPDQGWKDWWKHXVHUVHOHFWV7KH
RWKHUSDUDPHWHUVSDVVHGWRWKHILOWHUIXQFWLRQDUH Z3DUDP
7KHW\SHRIV\VWHPFRPPDQGWKDWWKHXVHUVHOHFWHG9DOLGYDOXHVIRUWKLVSDUDPHWHU
DUH
3XEOLF&RQVW6&B&/26( +) &ORVHWKHZLQGRZ
3XEOLF&RQVW6&B+27.(< +) $FWLYDWHVZQGDVVRFLDWHGZLWK
WKHKRWNH\
3XEOLF&RQVW6&B+6&52// +) 6FUROOKRUL]RQWDOO\
3XEOLF&RQVW6&B.(<0(18 +) *HWVZQGPHQXDVWKHUHVXOWRID
NH\SUHVV
3XEOLF&RQVW6&B021,72532:(5 + )RUFHVWKHGLVSOD\WRDORZSRZHU
RURIIVHWWLQJ
3XEOLF&RQVW6&B0$;,0,=( +) 0D[LPL]HWKHZLQGRZ
3XEOLF&RQVW6&B0,1,0,=( +) 0LQLPL]HWKHZLQGRZ
3XEOLF&RQVW6&B0286(0(18 +) *HWVZQGPHQXDVWKHUHVXOWRID
PRXVHFOLFN
3XEOLF&RQVW6&B029( +) 0RYHWKHZLQGRZ
3XEOLF&RQVW6&B1(;7:,1'2: +) $FWLYDWHVWKHQH[WZLQGRZ
3XEOLF&RQVW6&B35(9:,1'2: +) $FWLYDWHVWKHSUHYLRXVZLQGRZ
3XEOLF&RQVW6&B5(6725( +) 5HVWRUHVWKHFXUUHQWZLQGRZWRLWV
RULJLQDOVWDWH
3XEOLF&RQVW6&B6&5((16$9( +) 6WDUWVWKHVFUHHQVDYHU
3XEOLF&RQVW6&B6,=( +) 6L]HVWKHZLQGRZ
3XEOLF&RQVW6&B7$6./,67 +) $FWLYDWHVWKH6WDUWPHQX
3XEOLF&RQVW6&B96&52// +) 6FUROOYHUWLFDOO\
3XEOLF&RQVW6&B,&21 6&B0,1,0,=( 7KHZLQGRZLVEHLQJPLQLPL]HG
3XEOLF&RQVW6&B=220 6&B0$;,0,=( 7KHZLQGRZLVEHLQJPD[LPL]HG
O3DUDP
,IWKHXVHUXVHGWKHPRXVHWRVHOHFWWKHV\VWHPFRPPDQGIURPWKHZLQGRZPHQXWKH
ORZRUGHUZRUGRIWKLVSDUDPHWHUFRQWDLQVWKHPRXVHSRLQWHU V[FRRUGLQDWHDQGWKH
KLJKRUGHUZRUGFRQWDLQVWKHPRXVHSRLQWHU V\FRRUGLQDWH,IWKHXVHUGLGQRWXVHWKH
PRXVHWKHORZRUGHUZRUGRIWKLVSDUDPHWHULVQRWXVHGDQGWKHKLJKRUGHUZRUGLV
LIDV\VWHPDFFHOHUDWRUNH\ZDVXVHGRU]HURLIDPQHPRQLFZDVXVHG7KH
IROORZLQJIXQFWLRQZLOOUHWXUQWKHKLJKRUGHUZRUG
3XEOLF)XQFWLRQ*HW+L:RUG%\5HI9DOXH$V/RQJ $V/RQJ ,I9DOXH$QG + +7KHQ
*HW+L:RUG 9DOXH$QG +))) ? + 2U + (OVH
*HW+L:RUG 9DOXH$QG +)))) ? + (QG,I
(QG)XQFWLRQ
7KH+&%7B6<6&200$1'FRQVWDQWLVGHILQHGDVIROORZV
3XEOLF&RQVW+&%7B6<6&200$1' HCBT_QS
8VHGE\WKHKRRNWRV\QFKURQL]HEHWZHHQPHVVDJHVWKDWD
:+B-2851$/3/$<%$&.KRRNSOD\VEDFNDQGPHVVDJHVWKDWWKHPRXVHDQG
NH\ERDUGQRUPDOO\VHQG,SURYLGHPRUHLQIRUPDWLRQDERXWKRZWRXVHWKLVFRGHODWHU
LQWKLVFKDSWHU 7KHV\VWHPLJQRUHVWKLVKRRN VUHWXUQYDOXH7KHRWKHUSDUDPHWHUV SDVVHGWRWKHILOWHUIXQFWLRQDUH Z3DUDP
1RWXVHG O3DUDP
1RWXVHG
7KHFRQVWDQWLVGHILQHGDVIROORZV 3XEOLF&RQVW+&%7B46 HCBT_KEYSKIPPED
,QGLFDWHVWKDWDNH\ERDUGPHVVDJHKDVEHHQUHPRYHGIURPWKH5,7,SURYLGHPRUH
LQIRUPDWLRQDERXWKRZWRXVHWKLVFRGHODWHULQWKLVFKDSWHU 7KHV\VWHPLJQRUHVWKLV
KRRN VUHWXUQYDOXH7KHRWKHUSDUDPHWHUVSDVVHGWRWKHILOWHUIXQFWLRQDUH Z3DUDP
7KHYLUWXDONH\FRGHRIWKHNH\WKDWWKHXVHUW\SHG O3DUDP
7KHUHSHDWFRXQWVFDQFRGHH[WHQGHGNH\IODJFRQWH[WFRGHSUHYLRXVNH\VWDWH
IODJDQGWUDQVLWLRQVWDWHIODJRIWKHNH\WKDWWKHXVHUW\SHG7KHO3DUDPSDUDPHWHULV
GLYLGHGLQWRWKHELWILHOGVVKRZQLQ7DEOH
7DEOH%LW)LHOGVRIWKHO3DUDP3DUDPHWHUIRUWKH+&%7B.(<6.,33('&RGH %LW3RVLWLRQV
'HVFULSWLRQ
7KHUHSHDWFRXQW
7KHVFDQFRGH
,IWKLVLVDQH[WHQGHGNH\LIWKLVLVQRWDQH[WHQGHGNH\
5HVHUYHG
7KHFRQWH[WFRGH7KLVYDOXHLVIRU:0B.(<83PHVVDJHV
7KHSUHYLRXVNH\VWDWH7KLVYDOXHLVIRU:0B.(<83PHVVDJHV
7KH7UDQVLWLRQVWDWH7KLVYDOXHLVIRU:0B.(<83PHVVDJHV
7KH+&%7B.(<6.,33('FRQVWDQWLVGHILQHGDVIROORZV
3XEOLF&RQVW+&%7B.(<6.,33(' HCBT_CLICKSKIPPED
,QGLFDWHVWKDWDPRXVHPHVVDJHKDVEHHQUHPRYHGIURPWKH5,7,SURYLGHPRUH
LQIRUPDWLRQDERXWKRZWRXVHWKLVFRGHODWHULQWKLVFKDSWHU 7KHV\VWHPLJQRUHVWKLV
KRRN VUHWXUQYDOXH7KHRWKHUSDUDPHWHUVSDVVHGWRWKHILOWHUIXQFWLRQDUH Z3DUDP
7KHPRXVHPHVVDJHWKDWZDVUHPRYHGIURPWKH5,7 O3DUDP
3RLQWHUWRD0286(+22.6758&7VWUXFWXUHZKLFKLVGHILQHGDVIROORZV 3XEOLF7\SH0286(+22.6758&7 SW$V32,17$3,
KZQG$V/RQJ
Z+LW7HVW&RGH$V/RQJ
GZ([WUD,QIR$V/RQJ
(QG7\SH
7DEOHVKRZVWKHPHPEHUVRIWKH0286(+22.6758&7VWUXFWXUH 7DEOH0HPEHUVRIWKH0286(+22.6758&76WUXFWXUH 0HPEHU
'HVFULSWLRQ $SRLQWHUWRD32,17$3,VWUXFWXUHZKLFKLVGHILQHGDVIROORZV
SW
3XEOLF7\SH32,17$3,
[$V/RQJ
\$V/RQJ (QG7\SH
KZQG
+DQGOHRIWKHZLQGRZWKDWLVWRUHFHLYHWKHPRXVHPHVVDJH
Z+LW7HVW&RGH
7KHKLWWHVWYDOXH
GZ([WUD,QIR
&RQWDLQVDQ\H[WUDLQIRUPDWLRQDVVRFLDWHGZLWKWKHPHVVDJH
7KH+&%7B&/,&.6.,33('FRQVWDQWLVGHILQHGDVIROORZV
3XEOLF&RQVW+&%7B&/,&.6.,33('
&RPSDULQJ:+B6+(//WR:+B&%7 7KHFORVHVWUHODWLYHWRWKH:+B&%7KRRNLVWKH:+B6+(//KRRN&KDSWHUGHVFULEHV
WKH:+B6+(//KRRNLQGHWDLO*HQHUDOO\VSHDNLQJ\RXXVHWKH:+B6+(//KRRNWRUHWULHYH
LQIRUPDWLRQIURPWRSOHYHOZLQGRZVDQGWKH:+B&%7KRRNWRFUHDWH&%7DSSOLFDWLRQV7KDWLV
QRWWRVD\WKDWHDFKKRRNLVFRQILQHGWRRQO\ZRUNLQJRQWRSOHYHOZLQGRZVRURQ&%7
DSSOLFDWLRQVWKHXVHRIHDFKKRRNLVOLPLWHGRQO\E\WKHGHYHORSHU VLPDJLQDWLRQ
7KHWZRKRRNVDUHFRPSDUHGLQ7DEOH$V\RXFDQVHHWKHKRRNV KRRNFRGHVRYHUODS VRPHZKDW%XWLQWHUPVRIIXQFWLRQDOLW\WKH:+B&%7KRRNKDVPRUHIOH[LELOLW\DQGSRZHU
WKDQWKH:+B6+(//KRRN7KH:+B&%7KRRNLVQRWLILHGRIHYHQWVWKDWRFFXURQDOOZLQGRZV
QRWMXVWRQWRSOHYHOXQRZQHGZLQGRZVDVLVWKHFDVHZLWKWKH:+B6+(//KRRN3RVVLEO\RI
PRUHLPSRUWDQFHWKRXJKLVWKH:+B&%7KRRN VDELOLW\WRDFWXDOO\SUHYHQWWKHHYHQWIURP RFFXUULQJE\UHWXUQLQJDQRQ]HURYDOXHIURPWKHILOWHUIXQFWLRQ7KLVRFFXUVEHFDXVHWKH
:+B&%7KRRNLVQRWLILHGRIWKHHYHQWEHIRUHLWKDVWDNHQSODFHZKHUHDVWKH:+B6+(//
KRRNLQPRVWLQVWDQFHVLVQRWLILHGDIWHUWKHHYHQWKDVWDNHQSODFH7KHVROHH[FHSWLRQWRWKLV
UXOHLVWKH:+B6+(//KRRN V+6+(//B:,1'2:'(6752<('KRRNFRGHZKLFKLQWHUFHSWV
WKHZLQGRZGHVWUXFWLRQEHIRUHLWRFFXUV
7DEOH&RPSDULVRQRIWKH:+B&%7+RRNWRWKH:+B6+(//+RRN :+B&%7+RRN&RGH
&RPSDULVRQWR:+B6+(// 7KH:+B6+(//KRRNXVHVWKH+6+(//B:,1'2:$&7,9$7('
KRRNFRGHWRQRWLI\LWVHOIWKDWDGLIIHUHQWWRSOHYHOXQRZQHGZLQGRZ
+&%7B$&7,9$7(
KDVEHFRPHWKHDFWLYHZLQGRZ7KLVQRWLILFDWLRQLVVHQWDIWHUWKH
ZLQGRZKDVEHFRPHWKHDFWLYHZLQGRZLQVWHDGRIEHIRUHDVLVWKH
FDVHZLWKWKH+&%7B$&7,9$7(FRGH$OVRWKH+&%7B$&7,9$7(
KRRNFRGHQRWLILHVWKH:+B&%7KRRNRIDQ\ZLQGRZVWKDWFKDQJH
DFWLYDWLRQQRWRQO\RIWRSOHYHOXQRZQHGZLQGRZV +&%7B6(7)2&86
:+B6+(//KDVQRFRPSDUDEOHKRRNFRGH
+&%7B&/,&.6.,33(':+B6+(//KDVQRFRPSDUDEOHKRRNFRGH 7KH:+B6+(//KRRNXVHVWKH+6+(//B:,1'2:&5($7('KRRN
FRGHWRQRWLI\LWVHOIWKDWDWRSOHYHOXQRZQHGZLQGRZKDVDOUHDG\
EHHQFUHDWHG7KHZLQGRZH[LVWVZKHQWKH:+B6+(//KRRNILOWHU
IXQFWLRQLVFDOOHG7KH+&%7B&5($7(:1'KRRNFRGHLVVHQWWRWKH
+&%7B&5($7(:1' :+B&%7KRRNEHIRUHWKHZLQGRZLVDFWXDOO\FUHDWHG7KLVDOORZVWKH :+B&%7KRRNWRPRGLI\WKHZLQGRZ VSURSHUWLHVEHIRUHWKHZLQGRZ
LVGLVSOD\HGRUHYHQWRSUHYHQWWKHZLQGRZIURPEHLQJFUHDWHGDWDOO
+&%7B&5($7(:1'QRWLILHVWKH:+B&%7KRRNRIDQ\ZLQGRZ
EHLQJFUHDWHGQRWMXVWRIWRSOHYHOXQRZQHGZLQGRZV
+&%7B'(6752<:1'7KH:+B6+(//KRRNXVHVWKH+6+(//B:,1'2:'(6752<('
KRRNFRGHWRQRWLI\LWVHOIWKDWDWRSOHYHOXQRZQHGZLQGRZLVDERXWWR
EHGHVWUR\HG7KHZLQGRZH[LVWVZKHQWKH:+B6+(//KRRN
UHFHLYHVWKLVQRWLILFDWLRQ%RWKWKLVKRRNFRGHDQGWKH
+&%7B'(6752<:1'FRGHIRUWKH:+B&%7KRRNQRWLI\WKHILOWHU IXQFWLRQEHIRUHWKHZLQGRZLVDFWXDOO\GHVWUR\HG7KH
+&%7B'(6752<:1'FRGHQRWLILHVWKH:+B&%7KRRNRIDQ\
ZLQGRZEHLQJGHVWUR\HGQRWMXVWRIWRSOHYHOXQRZQHGZLQGRZV +&%7B.(<6.,33(' :+B6+(//KDVQRFRPSDUDEOHKRRNFRGH 7KH:+B6+(//KRRNXVHVWKH+6+(//B*(70,15(&7KRRNFRGH
WRQRWLI\LWVHOIWKDWDZLQGRZLVEHLQJPLQLPL]HGRUPD[LPL]HG7KH
+&%7B0,10$;
+&%7B0,10$;FRGHFRQWDLQVDVKRZZLQGRZYDOXH6:B WKDW
SURYLGHVPRUHGHWDLORQWKHPLQLPL]DWLRQRUPD[LPL]DWLRQRSHUDWLRQ
ZKLFKWKH+6+(//B*(70,15(&7KRRNFRGHODFNV7KH
+&%7B0,10$;FRGHQRWLILHVWKH:+B&%7KRRNRIDQ\ZLQGRZ
EHLQJGHVWUR\HGQRWMXVWRIWRSOHYHOXQRZQHGZLQGRZV +&%7B029(6,=(
:+B6+(//KDVQRFRPSDUDEOHKRRNFRGH
+&%7B46
:+B6+(//KDVQRFRPSDUDEOHKRRNFRGH
+&%7B6<6&200$1':+B6+(//KDVQRFRPSDUDEOHKRRNFRGH
$7KUHDG6SHFLILF([DPSOH 7KLVILUVWH[DPSOHLOOXVWUDWHVWKHLQIRUPDWLRQWKDW\RXFDQREWDLQIURPWKH:+B&%7KRRN
)LJXUHVKRZVDVFUHHQVKRWRIWKHDSSOLFDWLRQ7KLVDSSOLFDWLRQFRQWDLQVDPHQXEDU
ZLWKWKH7HVWPHQXLWHPD&UHDWH:QGEXWWRQDQGD06*%2;EXWWRQ(DFKLWHPZLOODLGLQ RXUXQGHUVWDQGLQJRIWKLVKRRN
)LJXUH6FUHHQVKRWRIWKH:+B&%7DSSOLFDWLRQ
7DEOHSUHVHQWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV 7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
1DPH
)RUP
)RUP
&DSWLRQ
:+B&%7$SSOLFDWLRQ
)RUP
7RS
)RUP
/HIW
)RUP
+HLJKW
)RUP
:LGWK
)RUP
1DPH
)RUP
)RUP
&DSWLRQ
1(:)250
&RPPDQG%XWWRQ
1DPH
FPG+RRN
&RPPDQG%XWWRQ
&DSWLRQ
KRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG8QKRRN
&RPPDQG%XWWRQ
&DSWLRQ
XQKRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG&UHDWH:QG
&RPPDQG%XWWRQ
&DSWLRQ
&UHDWH:QG
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG0VJ%R[
&RPPDQG%XWWRQ
&DSWLRQ
0VJ%R[
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
7H[W%R[
1DPH
7H[W
7H[W%R[
0XOWL/LQH
7UXH
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
7RLQVWDOOWKLVKRRNVLPSO\FOLFNWKHKRRNEXWWRQFRQWDLQHGLQWKH&%7IUDPHFRQWURO$IWHUWKH
KRRNLVLQVWDOOHGEHJLQH[SHULPHQWLQJZLWKLWE\FOLFNLQJWKH&UHDWH:QGDQG06*%2;
EXWWRQVDVZHOODVWKH7HVWPHQXLWHP
IROORZLQJ •
:KHQ\RXFUHDWHDSRSXSPHQXE\ULJKWFOLFNLQJHLWKHUDWH[WER[RUWKHWLWOHEDUWKH
:+B&%7KRRNLVVHQWD+&%7B&5($7(:1'FRGHZKHQLWDSSHDUVDQGD
+&%7B'(6752<:1'FRGHZKHQLWLVFORVHG
•
,IWKHSRSXSPHQXLVDV\VWHPPHQXDQGWKHXVHUFKRRVHVDQLWHPLQWKHPHQXD
+&%7B6<6&200$1'FRGHLVVHQWWRWKHKRRNDIWHUWKH+&%7B'(6752<:1'
FRGHLVVHQW •
:KHQ\RXPLQLPL]HDZLQGRZE\FOLFNLQJWKH0LQLPL]HEXWWRQLQWKHZLQGRZ VWLWOHEDU
DQ+&%7B6<6&200$1'FRGHLVVHQW7KLVFRGHLVIROORZHGE\WKH+&%7B0,10$;
FRGHDQGWKHQE\WKH+&%7B6(7)2&86FRGH7KH+&%7B6(7)2&86FRGH
LQGLFDWHVWKDWWKHIRFXVKDVVKLIWHGIURPWKHPLQLPL]HGZLQGRZWRDQRWKHUZLQGRZ,I
WKHZ3DUDPRIWKH+&%7B6(7)2&86FRGHLV]HURWKHGHVNWRSZLQGRZLVUHFHLYLQJ
WKHIRFXV •
,I\RXGHDFWLYDWHWKHDSSOLFDWLRQ VPDLQZLQGRZQRFRGHVDUHVHQWWRWKHKRRNEXWLI
\RXDFWLYDWHWKHDSSOLFDWLRQ VPDLQZLQGRZWKH+&%7B$&7,9$7(FRGHLVVHQW
IROORZHGE\DQ+&%7B6(7)2&86FRGH7KLV+&%7B6(7)2&86FRGHLQGLFDWHV
ZKLFKFRQWURORQWKHZLQGRZJRWWKHIRFXV7KHFRQWUROWKDWJHWVWKHIRFXVLVWKHODVW
FRQWUROWRKDYHWKHIRFXVEHIRUHWKHZLQGRZZDVGHDFWLYDWHG
•
,IFOLFNLQJLWVWLWOHEDUDFWLYDWHVWKHDSSOLFDWLRQ VPDLQZLQGRZWKH+&%7B$&7,9$7(
FRGHLVVHQWIROORZHGE\WKH+&%7B6(7)2&86FRGHZKLFKZHVDZLQWKHSUHYLRXV
EXOOHW7KH+&%7B6<6&200$1'FRGHLVWKHQVHQWZLWKWKH6&B029(YDOXHLQWKH
Z3DUDPSDUDPHWHULQGLFDWLQJWKDWWKHWLWOHEDUZDVFOLFNHG,IDQ6&B6,=(YDOXHLVLQ
WKHZ3DUDPSDUDPHWHU\RXFOLFNHGDVL]LQJERUGHUZKHQ\RXDFWLYDWHGWKHZLQGRZ
•
:KHQ\RXFUHDWHDZLQGRZUHJDUGOHVVRIZKHWKHULWLVDPHVVDJHER[DGLDORJER[
RUDWRSOHYHOZLQGRZDVHULHVRIFRGHVDUHVHQWWRWKLVKRRN7KH
+&%7B&5($7(:1'FRGHLVVHQWIRUWKHZLQGRZDQGIRUHYHU\FRQWUROWKDWLV
FUHDWHGRQWKHZLQGRZ7KHQWKH+&%7B6(7)2&86FRGHLVVHQWLQGLFDWLQJZKLFK
FRQWUROJHWVWKHIRFXVRQWKHQHZZLQGRZ)LQDOO\WKH+&%7B$&7,9$7(FRGHLV VHQWLQGLFDWLQJWKDWWKHZLQGRZLVEHLQJDFWLYDWHG
•
:KHQ\RXGHVWUR\DZLQGRZUHJDUGOHVVRIZKHWKHULWLVDPHVVDJHER[DGLDORJER[
RUDWRSOHYHOZLQGRZDVHULHVRIFRGHVDUHVHQWWRWKLVKRRN)LUVWWKH
+&%7B$&7,9$7(FRGHLVVHQWLQGLFDWLQJWKDWDQHZZLQGRZLVDERXWWREHDFWLYDWHG
1H[WWKH+&%7B6(7)2&86FRGHLVVHQWLQGLFDWLQJWKDWDFRQWURORQWKHQHZO\
DFWLYDWHGZLQGRZLVDERXWWRUHFHLYHWKHIRFXV)LQDOO\WKHFRQWUROVRQWKHZLQGRZ
DERXWWREHGHVWUR\HGDUHGHVWUR\HGDORQJZLWKWKHZLQGRZ •
7KHIRUPLVDOZD\VFUHDWHGILUVWWKHFRQWUROVDUHFUHDWHGLQDQRUGHUGHILQHGE\WKH
FRQWURO VFRQWURO,'7KHFRQWUROZLWKDFRQWURO,'RILVDOZD\VFUHDWHGILUVW7KH
9%)RFXV57ZLQGRZKDVDFRQWURO,'RI]HUR7KHUHLVDOZD\VRQHRIWKHVHZLQGRZV
IRUHDFK9%DSSOLFDWLRQWKHUHIRUH\RXZLOOQRWLFHWKDWWKHFRQWURO,'VVWDUWDWDQG
LQFUHDVHIURPWKHUHZKHQDZLQGRZLVFUHDWHGRUGHVWUR\HGLQD9%DSSOLFDWLRQ
•
7KHFRQWUROVDUHDOZD\VGHVWUR\HGLQWKHVDPHRUGHULQZKLFKWKH\ZHUHFUHDWHG7KLV
DOVRGHSHQGVRQWKHFRQWURO VFRQWURO,'7KHUHIRUHWKHFRQWUROZLWKDQ,'RILV
DOZD\VFUHDWHGILUVWDQGGHVWUR\HGILUVW7KHIRUPLVGHVWUR\HGODVW
•
:KHQ\RXPRYHRUVL]HDZLQGRZDQ+&%7B6<6&200$1'FRGHLVVHQWWRWKH
KRRNILUVWZLWKDZ3DUDPRI6&B029(RU6&B6,=(UHVSHFWLYHO\1H[WWKH
+&%7B029(6,=(FRGHLVVHQWWRWKHKRRN •
:KHQ\RXPLQLPL]HPD[LPL]HRUUHVWRUHWKHZLQGRZDQ+&%7B6<6&200$1' FRGHLVVHQWZLWKDZ3DUDPYDOXHRI6&B0,1,0,=(6&B0$;,0,=(RU
6&B5(6725(UHVSHFWLYHO\1H[WWKH+&%7B0,10$;FRGHLVVHQWZLWKDVKRZ
ZLQGRZYDOXHLQWKHORZRUGHUZRUGRIWKHO3DUDPSDUDPHWHU7KLVVKRZZLQGRZ YDOXHFDQEH6:B0,1,0,=(6:B0$;,0,=(RU6:B5(6725( •
,I\RXXVHWKH7$%NH\WRVHWWKHIRFXVWRDQRWKHUFRQWUROWKH+&%7B6(7)2&86 FRGHLVVHQWWRWKHKRRN+RZHYHULID:+B.(<%2$5'KRRNLVVHWWKH
+&%7B.(<6.,33('FRGHDOVRLVVHQWWRWKHKRRNERWKEHIRUHDQGDIWHUWKH
+&%7B6(7)2&86FRGH7KHWZR+&%7B.(<6.,33('FRGHVLQGLFDWHWKHNH\
EHLQJSUHVVHGDQGWKHNH\EHLQJUHOHDVHG
([DPSOHOLVWVWKHFRGHEHKLQGWKH)RUPIUPPRGXOH7KHFPG+RRNB&OLFNDQG FPG8Q+RRNB&OLFNHYHQWVLQVWDOODQGUHPRYHWKH&%7KRRNUHVSHFWLYHO\7KH
FPG0VJ%R[B&OLFNHYHQWGLVSOD\VDPHVVDJHER[DQGWKHFPG&UHDWH:QGB&OLFNHYHQWVKRZV
WKH)RUPIRUP7KHVHODVWWZREXWWRQFOLFNHYHQWVDOORZXVWRWHVWWKH&%7KRRN V
IXQFWLRQDOLW\
([DPSOH&RGH&RQWDLQHGLQWKH)RUPIUP0RGXOH 3ULYDWH6XEFPG+RRNB&OLFN
7H[W7H[W
&DOO6HW&%7+RRN (QG6XE
3ULYDWH6XEFPG8Q+RRNB&OLFN
&DOO5HPRYH&%7+RRN (QG6XE
3ULYDWH6XEFPG0VJ%R[B&OLFN
0VJ%R[WHVW (QG6XE
3ULYDWH6XEFPG&UHDWH:QGB&OLFN )RUP6KRZ (QG6XE
&/($183
3ULYDWH6XE)RUPB4XHU\8QORDG&DQFHO$V,QWHJHU8QORDG0RGH$V,QWHJHU ,I,V+RRNHG7KHQ &DQFHO
0VJ%R[8QKRRNEHIRUHFORVLQJRUWKH,'(ZLOOFUDVK
(QG,I
(QG6XE
7KH)RUPB4XHU\8QORDGHYHQWWHVWVWKH,V+RRNHGIODJWRGHWHUPLQHLIWKH&%7KRRNLVVWLOO
LQVWDOOHG,ILWLVDPHVVDJHLVGLVSOD\HGZDUQLQJWKDWWKLVKRRNLVVWLOOLQVWDOOHGDQGWKDWWKH
DSSOLFDWLRQFDQQRWVKXWGRZQ:LWKRXWWKLVFKHFNLIWKHDSSOLFDWLRQZHUHWRVKXWGRZQZLWKWKH
KRRNVWLOOLQVWDOOHGWKHDSSOLFDWLRQZRXOGVXIIHUD*HQHUDO3URWHFWLRQ)DXOW*3) XSRQ
FORVLQJ
([DPSOHFRQWDLQVDIXQFWLRQWRLQVWDOOWKHKRRNDIXQFWLRQWRUHPRYHWKHKRRNDQG
WKH&%7ILOWHUIXQFWLRQ7KHFRGHLQ([DPSOHLVFRQWDLQHGLQWKH0RGXOHEDVPRGXOH ([DPSOH&RGH&RQWDLQHGLQWKH0RGXOHEDV0RGXOH 3ULYDWHK+RRN$V/RQJ
3XEOLF,V+RRNHGDV%RROHDQ
3XEOLF6XE6HW&%7+RRN
,I,V+RRNHG7KHQ
0VJ%R['RQ WKRRN&%7WZLFHRU\RXZLOOEHXQDEOHWRXQKRRNLW
(OVH
K+RRN 6HW:LQGRZV+RRN([:+B&%7$GGUHVV2I&%73URF$SS7KUHDG,' ,V+RRNHG 7UXH
(QG,I
(QG6XE
3XEOLF6XE5HPRYH&%7+RRN
'LPWHPS$V/RQJ
WHPS 8QKRRN:LQGRZV+RRN([K+RRN
,V+RRNHG )DOVH
(QG6XE
3XEOLF)XQFWLRQ&%73URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
,IX&RGH! 7KHQ
6HOHFW&DVHX&RGH
&DVH+&%7B$&7,9$7(
Z3DUDP
O3DUDP
6SHFLILHVWKHKDQGOHWRWKHZLQGRZDERXWWREHDFWLYDWHG
3RLQWHUWRWKH&%7$&7,9$7(6758&7VWUXFW
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B$&7,9$7(+:1' B
Z3DUDP YE1HZ/LQH
&DVH+&%7B&/,&.6.,33('
Z3DUDP
6SHFLILHVWKHPRXVHPHVVDJHUHPRYHGIURPWKH
V\VWHPPHVVDJHTXHXH
O3DUDP
3RLQWHUWRWKH0286(+22.6758&7VWUXFW
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B&/,&.6.,33('0RXVH0VJ B
Z3DUDP YE1HZ/LQH
&DVH+&%7B&5($7(:1'
Z3DUDP
O3DUDP
6SHFLILHVWKHKDQGOHWRWKHQHZZLQGRZ
3RLQWHUWRWKH&%7B&5($7(:1'VWUXFW
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B&5($7(:1'1(:B+:1' B
Z3DUDP O3DUDP O3DUDP YE1HZ/LQH
([LW)XQFWLRQ 2WKHUZLVHD*3)RFFXUVLQWKH&DOO1H[W+RRN([IXQFWLRQ
&DVH+&%7B'(6752<:1' Z3DUDP
O3DUDP
6SHFLILHVWKHKDQGOHWRWKHZLQGRZDERXWWREHGHVWUR\HG
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B'(6752<:1' B 'HVWUR\HGB+:1' Z3DUDP YE1HZ/LQH
&DVH+&%7B.(<6.,33(' Z3DUDP O3DUDP
6SHFLILHVWKHYLUWXDONH\FRGH
6SHFLILHVWKHUHSHDWFRXQWVFDQFRGHNH\WUDQVLWLRQFRGH
SUHYLRXVNH\VWDWHDQGFRQWH[WFRGH )RUP7H[W7H[W )RUP7H[W7H[W B
+&%7B.(<6.,33('9LUWXDO.H\&RGH B
Z3DUDP 0LVFB3DUDPV O3DUDP YE1HZ/LQH
&DVH+&%7B0,10$; Z3DUDP
6SHFLILHVWKHKDQGOHWRWKHZLQGRZEHLQJPLQLPL]HG
RUPD[LPL]HG O3DUDP
6SHFLILHVLQWKHORZRUGHUZRUGDVKRZZLQGRZYDOXH6:B
VSHFLI\LQJWKHRSHUDWLRQWKHKLJKRUGHUZRUGLVXQGHILQHG
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B0,10$;+:1' Z3DUDP B
O3DUDP +))))$QGO3DUDP YE1HZ/LQH
&DVH+&%7B029(6,=( Z3DUDP
O3DUDP
6SHFLILHVWKHKDQGOHWRWKHZLQGRZWREHPRYHGRUVL]HG
3RLQWHUWRD5(&7VWUXFW
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B029(6,=(+:1' B Z3DUDP YE1HZ/LQH
&DVH+&%7B46 Z3DUDP O3DUDP
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B46 YE1HZ/LQH &DVH+&%7B6(7)2&86 Z3DUDP
O3DUDP
6SHFLILHVWKHKDQGOHWRWKHZLQGRZJDLQLQJWKHNH\ERDUGIRFXV
6SHFLILHVWKHKDQGOHWRWKHZLQGRZORVLQJWKHNH\ERDUGIRFXV
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B6(7)2&861HZB+:1' B Z3DUDP 2OGB+:1' O3DUDP YE1HZ/LQH
&DVH+&%7B6<6&200$1'
Z3DUDP O3DUDP
6SHFLILHVDV\VWHPFRPPDQGYDOXH6&B
&RQWDLQVWKHVDPHGDWDDVWKHO3DUDPYDOXHRID
:0B6<6&200$1'PHVVDJH
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B6<6&200$1' B 6\VWHPB&RPPDQG Z3DUDP B
O3DUDP O3DUDP YE1HZ/LQH
(QG6HOHFW (QG,I
,IX&RGH +&%7B029(6,=(7KHQ &%73URF (OVH
&%73URF &DOO1H[W+RRN([K+RRNX&RGHZ3DUDPO3DUDP (QG,I
(QG)XQFWLRQ
7KH&%73URFILOWHUIXQFWLRQVKRZQLQ([DPSOHGLVSOD\VWKHHYHQWVWKDWWKLVKRRN
FDSWXUHVDVWKH\RFFXULQWKH7H[WWH[WER[7KHRQHLQWHUHVWLQJWKLQJDERXWWKLVIXQFWLRQLV
WKDWDIWHUWKLVKRRNLVLQVWDOOHGWKHDSSOLFDWLRQ VPDLQZLQGRZFDQQRWEHPRYHGRUVL]HG7KLV
LVEHFDXVHWKHIXQFWLRQUHWXUQVDQRQ]HURYDOXHZKHQHYHUWKH+&%7B029(6,=(KRRNFRGH
LVVHQWWRWKLVIXQFWLRQ7KLVFDXVHVWKHZLQGRZ V[DQG\FRRUGLQDWHVWREHUHSODFHGZLWKWKHLU
RULJLQDOYDOXHVDIWHUWKHXVHUILQLVKHVWKHPRYHRSHUDWLRQ7KLVDOVRFDXVHVWKHKHLJKWDQG
ZLGWKRIWKHZLQGRZWREHUHSODFHGZLWKWKHLURULJLQDOYDOXHVDIWHUWKHXVHUILQLVKHVWKHUHVL]H
RSHUDWLRQ
8VLQJWKH:+B-2851$/3/$<%$&.+RRNZLWKD&%7 7RDOORZWKH&%7DSSOLFDWLRQWRWDNHFRQWURORIWKHV\VWHPIRUWKHSXUSRVHRIVKRZLQJWKHXVHU
KRZWRSHUIRUPDVSHFLILFWDVN\RXPXVWLQFRUSRUDWHLQWRWKHDSSOLFDWLRQVHYHUDOKRRNVWKDW ZRUNWRJHWKHU2UGLQDULO\\RXLQVWDOOD:+B&%7KRRNDORQJZLWKD:+B.(<%2$5'KRRN
DQGRUD:+B0286(KRRN7KH:+B.(<%2$5'DQG:+B0286(KRRNV GXWLHVLQFOXGH ZDWFKLQJIRUDVSHFLILFVHWRIHYHQWVLQUHVSRQVHWRWKRVHHYHQWVD
:+B-2851$/3/$<%$&.KRRNLVLQVWDOOHG7KLV:+B-2851$/3/$<%$&.KRRNSOD\V
EDFNDSUHUHFRUGHGVHWRIPRXVHDQGNH\ERDUGPHVVDJHVWRVKRZWKHXVHUKRZWRSHUIRUPD
VSHFLILFWDVN
/HW VVHHKRZWRGRWKLVE\DGGLQJWRWKHODVWH[DPSOHDSSOLFDWLRQWKHSOD\EDFNRID
SUHUHFRUGHGVHWRIPHVVDJHVWRWKHXVHU:KHQWKH:+B&%7DSSOLFDWLRQLVLQVWDOOHGD
:+B.(<%2$5'KRRNLVLQVWDOOHGDWWKHVDPHWLPH,QVWDOOLQJWKH:+B.(<%2$5'KRRN
DOORZVWKH+&%7B.(<6.,33('FRGHWREHVHQWWRWKH:+B&%7KRRN VILOWHUIXQFWLRQ,ID
:+B0286(KRRNLVLQVWDOOHGWKH+&%7B&/,&.6.,33('FRGHLVVHQWWRWKHILOWHUIXQFWLRQ
7RXVHWKLVH[DPSOHILUVWFOLFNWKHKRRNEXWWRQWRLQVWDOOWKH&%7KRRN1H[WFOLFNWKH
&UHDWH:QGEXWWRQWRFUHDWHDQGGLVSOD\WKH)RUPIRUPWKLVIRUPKDVWKHFDSWLRQ:+B&%7
7HVW)RUPDVLQ)LJXUH)LQDOO\ZLWKWKH)RUPIRUPDVWKHDFWLYHZLQGRZSUHVVDQG UHOHDVHWKH(6&NH\
7KHFRGHLQWKH&%7 VILOWHUIXQFWLRQWHVWVIRUWKH(6&NH\EHLQJUHOHDVHGZKHQWKH
+&%7B.(<6.,33('FRGHLVVHQWWRWKH:+B&%7KRRN VILOWHUIXQFWLRQ,QUHVSRQVHWRWKLV DFWLRQD:+B-2851$/3/$<%$&.KRRNLVLQVWDOOHGDQGDVHULHVRIPHVVDJHVLVSOD\HG
EDFNWRVHQGWKHZRUGWHVWWRWKHWH[WER[LQWKH)RUPZLQGRZDVVKRZQLQ)LJXUH )LJXUH7KHZRUGWHVWLVVHQWWRWKHWH[WER[ZKHQWKHXVHUUHOHDVHVWKH(6&NH\
$VDQRWHLIZHGLGQRWWHVWIRUWKH(6&NH\EHLQJUHOHDVHGWKHZRUGWHVWZRXOGEHSULQWHG
WZLFHLQWKHWH[WER[RQFHIRUWKH:0B.(<'2:1PHVVDJHDQGRQFHIRUWKH:0B.(<83
PHVVDJH
/HW VVHHKRZWRPRGLI\WKHFRGHIURPWKHSUHYLRXVH[DPSOHDSSOLFDWLRQWRDGGMRXUQDO
SOD\EDFNFDSDELOLWLHV-XVWDGGWKHIROORZLQJWRWKH)RUPIUPPRGXOH
3ULYDWH6XE)RUPB/RDG
&DOO,QLW
(QG6XE
([DPSOHVKRZVWKHDGGLWLRQDOYDULDEOHDQGDUUD\GHFODUDWLRQV ([DPSOH7KH0RGLILHG9HUVLRQRIWKH'HFODUDWLRQVRI0RGXOHEDV 3ULYDWHK5HFRUG+RRN$V/RQJ
3ULYDWHK3OD\EDFN+RRN$V/RQJ 3ULYDWH0VJ$UUD\ $V/RQJ
3ULYDWH6WDUW7LPH$V/RQJ
3ULYDWH&XUU06*$V/RQJ
3ULYDWHK+RRN$V/RQJ
3ULYDWHK.EG+RRN$V/RQJ
3XEOLF,V+RRNHG$V%RROHDQ
3XEOLF,V3%+RRNHG$V%RROHDQ
$V([DPSOHVKRZVDQH[WUD6HW:LQGRZV+RRN([IXQFWLRQFDOOZDVDGGHGWRWKH
6HW&%7+RRNIXQFWLRQWRLQVWDOOWKH:+B.(<%2$5'KRRN
([DPSOH7KH0RGLILHG9HUVLRQRIWKH6HW&%7+RRN,QVWDOODWLRQ5RXWLQH 3XEOLF6XE6HW&%7+RRN
,I,V+RRNHG7KHQ
0VJ%R['RQ WKRRN&%7WZLFHRU\RXZLOOEHXQDEOHWRXQKRRNLW
(OVH
K+RRN 6HW:LQGRZV+RRN([:+B&%7$GGUHVV2I&%73URF$SS7KUHDG,'
K.EG+RRN 6HW:LQGRZV+RRN([:+B.(<%2$5'$GGUHVV2I.EG3URF
$SS7KUHDG,'
,V+RRNHG 7UXH (QG,I
(QG6XE
%HFDXVHZHDUHLQVWDOOLQJDVHFRQGKRRNZHPXVWDOVRUHPRYHWKDWKRRNLQWKH
5HPRYH&%7+RRNIXQFWLRQDV([DPSOHVKRZV
([DPSOH7KH0RGLILHG9HUVLRQRIWKH5HPRYH&%7+RRN5RXWLQH 3XEOLF6XE5HPRYH&%7+RRN
'LPWHPS$V/RQJ
WHPS 8QKRRN:LQGRZV+RRN([K+RRN
WHPS 8QKRRN:LQGRZV+RRN([K.EG+RRN
,V+RRNHG )DOVH
(QG6XE
:HDGGWKUHHOLQHVRIFRGHWRWKH&%73URFILOWHUIXQFWLRQ7KHDGGHGFRGHLVKLJKOLJKWHGLQ
([DPSOH
([DPSOH7KH0RGLILHG9HUVLRQRIWKH&%73URF)LOWHU)XQFWLRQ 3XEOLF)XQFWLRQ&%73URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
,IX&RGH! 7KHQ
6HOHFW&DVHX&RGH
&DVH+&%7B$&7,9$7(
Z3DUDP
O3DUDP
6SHFLILHVWKHKDQGOHWRWKHZLQGRZDERXWWREHDFWLYDWHG
3RLQWHUWRWKH&%7$&7,9$7(6758&7VWUXFW
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B$&7,9$7(+:1' B Z3DUDP YE1HZ/LQH &DVH+&%7B&/,&.6.,33('
Z3DUDP
6SHFLILHVWKHPRXVHPHVVDJHUHPRYHGIURPWKH
V\VWHPPHVVDJHTXHXH O3DUDP
3RLQWHUWRWKH0286(+22.6758&7VWUXFW
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B&/,&.6.,33(' B 0RXVH0VJ Z3DUDP YE1HZ/LQH
&DVH+&%7B&5($7(:1' Z3DUDP
O3DUDP
6SHFLILHVWKHKDQGOHWRWKHQHZZLQGRZ
3RLQWHUWRWKH&%7B&5($7(:1'VWUXFW
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B&5($7(:1' B 1(:B+:1' Z3DUDP B
O3DUDP O3DUDP YE1HZ/LQH
([LW)XQFWLRQ 2WKHUZLVHD*3)RFFXUVLQWKH&DOO1H[W+RRN([IXQFWLRQ &DVH+&%7B'(6752<:1'
Z3DUDP
O3DUDP
6SHFLILHVWKHKDQGOHWRWKHZLQGRZDERXWWREHGHVWUR\HG
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B'(6752<:1' B 'HVWUR\HGB+:1' Z3DUDP YE1HZ/LQH
&DVH+&%7B.(<6.,33('
Z3DUDP
O3DUDP
6SHFLILHVWKHYLUWXDONH\FRGH
6SHFLILHVWKHUHSHDWFRXQWVFDQFRGHNH\WUDQVLWLRQ
FRGHSUHYLRXVNH\VWDWHDQGFRQWH[WFRGH
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B.(<6.,33(' B 9LUWXDO.H\&RGH Z3DUDP B
0LVFB3DUDPV O3DUDP YE1HZ/LQH
,IZ3DUDP 9.B(6&$3($QGO3DUDP$QG + 7KHQ
&DOO6HW3OD\EDFN+RRN
(QG,I
&DVH+&%7B0,10$; Z3DUDP
6SHFLILHVWKHKDQGOHWRWKHZLQGRZEHLQJPLQLPL]HG
RUPD[LPL]HG
O3DUDP
7KHORZRUGHUZRUGVSHFLILHVDVKRZZLQGRZYDOXH
6:B GHILQLQJWKHRSHUDWLRQWKHKLJKRUGHUZRUGLV
XQGHILQHG
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B0,10$;+:1' B
Z3DUDP O3DUDP B
+))))$QGO3DUDP YE1HZ/LQH &DVH+&%7B029(6,=( Z3DUDP
O3DUDP
6SHFLILHVWKHKDQGOHWRWKHZLQGRZWREHPRYHGRUVL]HG
3RLQWHUWRD5(&7VWUXFW
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B029(6,=(+:1' B Z3DUDP YE1HZ/LQH &DVH+&%7B46 Z3DUDP O3DUDP
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B46 YE1HZ/LQH
&DVH+&%7B6(7)2&86
Z3DUDP
6SHFLILHVWKHKDQGOHWRWKHZLQGRZJDLQLQJWKH
NH\ERDUGIRFXV O3DUDP
6SHFLILHVWKHKDQGOHWRWKHZLQGRZORVLQJWKH
NH\ERDUGIRFXV
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B6(7)2&861HZB+:1'B Z3DUDP 2OGB+:1' O3DUDP YE1HZ/LQH
&DVH+&%7B6<6&200$1'
Z3DUDP O3DUDP
$V\VWHPFRPPDQGYDOXH6&B
&RQWDLQVWKHVDPHGDWDDVWKHO3DUDPYDOXHRID
:0B6<6&200$1'PHVVDJH
)RUP7H[W7H[W )RUP7H[W7H[W +&%7B6<6&200$1' 6\VWHPB&RPPDQG Z3DUDP B
O3DUDP O3DUDP YE1HZ/LQH (QG6HOHFW (QG,I
,IX&RGH +&%7B029(6,=(7KHQ
&%73URF (OVH
&%73URF &DOO1H[W+RRN([K+RRNX&RGHZ3DUDPO3DUDP
(QG,I
(QG)XQFWLRQ
7KH&DVHVWDWHPHQWWKDWHYDOXDWHVWKHX&RGHSDUDPHWHUIRUWKH+&%7B.(<6.,33('
FRQVWDQWFRQWDLQVDQ,I7KHQVWDWHPHQWWKDWZDWFKHVIRUWKH(6&NH\WREHUHOHDVHG:KHQ
WKHPRVWVLJQLILFDQWELWRIWKHO3DUDPSDUDPHWHULVRQWKH(6&NH\LVEHLQJUHOHDVHG
IRUWKLVE\$1'LQJO3DUDPZLWKWKHYDOXH +:KHQWKH(6&NH\LVEHLQJUHOHDVHG
D:+B-2851$/3/$<%$&.KRRNLVLQVWDOOHGWRSOD\EDFNDSUHUHFRUGHGVHWRIPHVVDJHV
7KHFRGHLQ([DPSOHVKRZVWKH,QLWIXQFWLRQWKDWLVFRQWDLQHGLQ0RGXOHEDV7KLV IXQFWLRQLQLWLDOL]HVDQ0VJ$UUD\DUUD\ZLWKWKHZLQGRZPHVVDJHVWKDWWKH
:+B-2851$/3/$<%$&.KRRNZLOOSOD\EDFN7KHDUUD\HOHPHQWVFRQWDLQWKHIROORZLQJ LQIRUPDWLRQ MsgArray(1,x)
7KHZLQGRZPHVVDJHWKDWWKH:+B-2851$/3/$<%$&.KRRNLVWRSOD\EDFN MsgArray(2,x) 7KHK:QGRIWKHZLQGRZLQZKLFKWRSOD\EDFNWKHKRRN MsgArray(3,x)
7KHZ3DUDPIRUWKHPHVVDJHFRQWDLQHGLQDUUD\HOHPHQW0VJ$UUD\[ MsgArray(4,x) 7KHO3DUDPIRUWKHPHVVDJHFRQWDLQHGLQDUUD\HOHPHQW0VJ$UUD\[ MsgArray(5,x) 7KHWLPHGHOD\LQZKLFKWRSOD\EDFNWKHPHVVDJH
7KLVDUUD\VWDUWVDQGHQGVZLWKWKH:0B48(8(6<1&PHVVDJHPRUHDERXWWKLVPHVVDJH
VKRUWO\7KHUHVWRIWKHDUUD\FRQWDLQVD:0B.(<'2:1DQG:0B.(<83PHVVDJHIRUHDFK
OHWWHURIWKHZRUGWHVW
([DPSOH7KH,QLW3URFHGXUHWR,QLWLDOL]H0HVVDJHVIRU3OD\EDFN 3XEOLF6XE,QLW
5H'LP0VJ$UUD\ $V/RQJ
:0B48(8(6<1& 0VJ$UUD\
0VJ$UUD\ :0B48(8(6<1&
0VJ$UUD\ )RUPK:QG 0VJ$UUD\ 0VJ$UUD\
0VJ$UUD\
7
0VJ$UUD\
0VJ$UUD\ :0B.(<'2:1
0VJ$UUD\ )RUPK:QG 0VJ$UUD\
0VJ$UUD\
0VJ$UUD\
0VJ$UUD\
0VJ$UUD\ :0B.(<83
0VJ$UUD\ )RUPK:QG 0VJ$UUD\
0VJ$UUD\ 0VJ$UUD\
(
0VJ$UUD\
0VJ$UUD\ :0B.(<'2:1 0VJ$UUD\ )RUPK:QG 0VJ$UUD\
0VJ$UUD\ 0VJ$UUD\
0VJ$UUD\
0VJ$UUD\ :0B.(<83
0VJ$UUD\ )RUPK:QG 0VJ$UUD\
0VJ$UUD\ 0VJ$UUD\
6
0VJ$UUD\
0VJ$UUD\ :0B.(<'2:1 0VJ$UUD\ )RUPK:QG 0VJ$UUD\
0VJ$UUD\ 0VJ$UUD\
0VJ$UUD\
0VJ$UUD\ :0B.(<83
0VJ$UUD\ )RUPK:QG 0VJ$UUD\
0VJ$UUD\ 0VJ$UUD\
7
0VJ$UUD\
0VJ$UUD\ :0B.(<'2:1 0VJ$UUD\ )RUPK:QG 0VJ$UUD\
0VJ$UUD\ 0VJ$UUD\
0VJ$UUD\
0VJ$UUD\ :0B.(<83
0VJ$UUD\ )RUPK:QG 0VJ$UUD\
0VJ$UUD\ 0VJ$UUD\
:0B48(8(6<1& 0VJ$UUD\
0VJ$UUD\ :0B48(8(6<1& 0VJ$UUD\ )RUPK:QG 0VJ$UUD\
0VJ$UUD\
0VJ$UUD\ (QG6XE
WKURXJKWKH:+B-2851$/3/$<%$&.KRRN7RGLIIHUHQWLDWHEHWZHHQWKHXVHU VDFWLRQVDQG
WKHSOD\EDFNRIPHVVDJHVWKURXJKWKH:+B-2851$/3/$<%$&.KRRNWKH
:0B48(8(6<1&PHVVDJHLVXVHG7KLVPHVVDJHLVDOZD\VWKHILUVWDQGWKHODVWPHVVDJH
WREHSOD\HGEDFNWKURXJKWKH:+B-2851$/3/$<%$&.KRRN:KHQWKH:+B&%7KRRN
LQWHUFHSWVWKLVPHVVDJHLWVHQGVWKH+&%7B46FRGHWRWKH:+B&%7KRRN7KH:+B&%7
KRRNFDQVHWDIODJLQGLFDWLQJWKDWD:+B-2851$/3/$<%$&.KRRNLVLQVWDOOHG7KHODVW
PHVVDJHWKDWWKH:+B-2851$/3/$<%$&.KRRNSOD\VLVWKH:0B48(8(6<1&PHVVDJH
7KH+&%7B46FRGHLVVHQWWRWKH:+B&%7KRRN7KH:+B&%7KRRNFDQWKHQUHVHWWKHIODJ
WRLWVLQLWLDOVWDWHLQGLFDWLQJWKDWWKH:+B-2851$/3/$<%$&.KRRNLVILQLVKHG7KLVIODJWKDW
WKH:+B&%7KRRNVHWVLVXVHGWRWHOOWKLVKRRNWKDWLWVKRXOGGRQRSURFHVVLQJZKLOHLWLVVHW
,QWKLVZD\WKH:+B&%7KRRNFDQGLIIHUHQWLDWHEHWZHHQDXVHU VDFWLRQVDQGDFWLRQVEHLQJ
SOD\HGEDFNWKURXJKD:+B-2851$/3/$<%$&.KRRN
7KHEORFNRIFRGHLQ([DPSOHLVDGGHGWRWKH%$6PRGXOHRIWKHH[DPSOHDSSOLFDWLRQ WRLQVWDOODQGUHPRYHWKH:+B-2851$/3/$<%$&.KRRN
([DPSOH&RGHWR,QVWDOODQG5HPRYHWKH:+B-2851$/3/$<%$&.+RRN
3XEOLF6XE6HW3OD\EDFN+RRN ,I,V3%+RRNHG7KHQ
'RQ WKRRN:+B-2851$/3/$<%$&.WZLFHZLWKRXWXQKRRNLQJ
(OVH
6WDUW7LPH *HW7LFN&RXQW &XUU06*
K3OD\EDFN+RRN 6HW:LQGRZV+RRN([:+B-2851$/3/$<%$&.B
,V3%+RRNHG 7UXH
$GGUHVV2I-RXUQDO3OD\EDFN3URF$SSK,QVWDQFH
(QG,I
(QG6XE
3XEOLF6XE5HPRYH3OD\EDFN+RRN 'LPO5HW9DO$V/RQJ
O5HW9DO 8QKRRN:LQGRZV+RRN([K3OD\EDFN+RRN
,V3%+RRNHG )DOVH (QG6XE
([DPSOHVKRZVWKHILOWHUIXQFWLRQIRUWKH:+B-2851$/3/$<%$&.KRRN7KLVFRGH
LVDOPRVWLGHQWLFDOWRWKHILOWHUIXQFWLRQXVHGLQWKHH[DPSOHDSSOLFDWLRQLQ&KDSWHUZKLFK FRYHUVWKH:+B-2851$/3/$<%$&.KRRN7KHPDLQGLIIHUHQFHLVLQGLFDWHGLQEROGIDFHLQ
WKH-RXUQDO3OD\EDFN3URFIXQFWLRQ7KLV,I7KHQ(OVHEORFNRIFRGHPDNHVVXUHWKDWWKHILUVW
PHVVDJHSOD\HGEDFNLVWLPHGFRUUHFWO\
([DPSOH7KH)LOWHU)XQFWLRQIRUWKH:+B-2851$/3/$<%$&.+RRN 3XEOLF)XQFWLRQ-RXUQDO3OD\EDFN3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB O3DUDP$V(9(1706* $V/RQJ
,IX&RGH +&B*(71(;77KHQ SOD\WKHFXUUHQWPHVVDJH
,I&XUU06*! 7KHQ
1RPRUHPHVVDJHVWRSOD\UHPRYHWKHKRRNDQGUHVWRUHFRQWURO
WRWKHXVHUJUDFHIXOO\
&DOO5HPRYH3OD\EDFN+RRN
(OVH
O3DUDPPHVVDJH 0VJ$UUD\&XUU06*
O3DUDPKZQG 0VJ$UUD\&XUU06*
O3DUDPSDUDP+ 0VJ$UUD\&XUU06*
O3DUDPSDUDP/ 0VJ$UUD\&XUU06*
,I&XUU06* 7KHQ
O3DUDPWLPH 0VJ$UUD\&XUU06*
-RXUQDO3OD\EDFN3URF 0VJ$UUD\&XUU06*
(OVH
O3DUDPWLPH 0VJ$UUD\&XUU06* 0VJ$UUD\&XUU06*
-RXUQDO3OD\EDFN3URF 0VJ$UUD\&XUU06* 0VJ$UUD\&XUU06* (QG,I (QG,I
(OVH,IX&RGH +&B6.,37KHQ UHWULHYHWKHQH[WPHVVDJH
,I&XUU06*! 7KHQ
1RPRUHPHVVDJHVWRSOD\UHPRYHWKHKRRNDQGUHVWRUHFRQWURO
WRWKHXVHUJUDFHIXOO\
&DOO5HPRYH3OD\EDFN+RRN (QG,I
&XUU06* &XUU06*
(OVH,IX&RGH +&B125(029(7KHQ
6NLS3OD\EDFNDQDSSKDVFDOOHG3HHN0HVVDJH (OVH,IX&RGH +&B6<602'$/217KHQ 6NLSSOD\EDFN
(OVH,IX&RGH +&B6<602'$/2))7KHQ 6NLSSOD\EDFN (QG,I
-RXUQDO3OD\EDFN3URF &DOO1H[W+RRN([K3OD\EDFN+RRNX&RGH
Z3DUDPO3DUDP (QG)XQFWLRQ
&DYHDWV 7KLVKRRNKDPSHUVV\VWHPSHUIRUPDQFHFRQVLGHUDEO\EHFDXVHLWLQWHUFHSWVPDQ\FRPPRQ
HYHQWVWKDWRFFXULQWKHV\VWHPVXFKDVFKDQJLQJDFRQWURO VIRFXVRUPDQLSXODWLQJDZLQGRZ
8QOLNHWKH:+B6+(//KRRNWKLVKRRNZRUNVIRUDOOZLQGRZVDQGQRWMXVWWKHWRSOHYHO
XQRZQHGZLQGRZVLQWKHV\VWHP,I\RXFDQVROYHDSUREOHPZLWKWKH:+B6+(//KRRN
LQVWHDGRIZLWKWKH:+B&%7KRRNE\DOOPHDQVXVHWKH:+B6+(//KRRN7KH:+B6+(//
KRRNSXWVOHVVRIDVWUDLQRQWKHV\VWHPEHFDXVHQRWDOOZLQGRZHYHQWVDUHLQWHUFHSWHGMXVW
WKRVHRIWRSOHYHOXQRZQHGZLQGRZV
,I\RXZDQWWRXVHWKH+&%7B.(<6.,33('FRGH\RXPXVWLQVWDOOD:0B.(<%2$5'KRRN
/LNHZLVHLI\RXZDQWWRXVHWKH+&%7B&/,&.6.,33('FRGH\RXPXVWLQVWDOOD
:0B0286(KRRN
,I\RXXVHWKH+&%7B.(<6.,33('FRGHWRLQLWLDWHDQDFWLRQIRUDNH\VWURNH\RXVKRXOGDOVR
WHVWIRUHLWKHUWKH:0B.(<83RU:0B.(<'2:1PHVVDJHDQGWKHQLQLWLDWHWKHDFWLRQIRU
RQHRIWKHVHPHVVDJHV2WKHUZLVHWKHDFWLRQZLOOEHSHUIRUPHGWZLFHRQFHIRUHDFK
PHVVDJH
0RVWOLNHO\ZKHQXVLQJWKH:+B&%7KRRN\RXDOVRZLOOXVHRQHRUPRUHRWKHUKRRNVWR
DXJPHQWLW:KHQGRLQJVRYHULI\WKDW\RXUHOHDVHHDFKKRRNQRWRQO\EHIRUHWKHDSSOLFDWLRQ
HQGVEXWDOVREHIRUHLWLVUHLQVWDOOHG
PXOWLSOHWLPHVLQDVLQJOH&%7DSSOLFDWLRQ VOLIHWLPH,WLVLPSHUDWLYHWKDW\RXUHOHDVHWKLVKRRN
DIWHULWLVILQLVKHGRULWPLJKWVHHPDVLI\RXUDSSOLFDWLRQKDVORFNHGXS
7KHUHLVDQDUWLFOHLQWKH0LFURVRIW'HYHORSHU1HWZRUN06'1 FDOOHGC35%
&%7B&5($7(:1'6WUXFW5HWXUQV,QYDOLG&ODVV1DPH,'4 ZKLFKLQGLFDWHVWKDW
WKHUHLVDSRWHQWLDOSUREOHPZLWKUHWULHYLQJWKHFODVVQDPHRIDZLQGRZZKHQWKH:+B&%7
KRRNUHFHLYHVWKH+&%7B&5($7(:1'FRGH7KLVFRGHFRQWDLQVDSRLQWHUWRD
&%7B&5($7(:1'VWUXFWXUHLQLWVO3DUDPSDUDPHWHU7KLVVWUXFWXUHFRQWDLQVDQHVWHG
VWUXFWXUH&5($7(6758&7WKDWFRQWDLQVWKHFODVVQDPHOSV]&ODVV7KHOSV]&ODVVPHPEHU
GRHVQRWDOZD\VFRQWDLQWKHPRVWUHOLDEOHLQIRUPDWLRQHVSHFLDOO\ZKHQDQLQWHUQDOV\VWHP
ZLQGRZLVEHLQJFUHDWHG7KHUHFRPPHQGHGZRUNDURXQGLVWRXVHWKH*HW&ODVV1DPH
IXQFWLRQLQVWHDGRIWKH&%7B&5($7(:1'VWUXFWXUH
&KDSWHU:+B-2851$/5(&25' 7KLVLVWKHILUVWRIWZRFKDSWHUVWKDWZLOOH[DPLQHMRXUQDOLQJKRRNV7RLOOXVWUDWH
KRZWKHVHKRRNVRSHUDWHZHZLOOEXLOGDPDFURUHFRUGHUDSSOLFDWLRQWKDWLV
VLPLODUWRWKHPDFURUHFRUGHUWKDWVKLSSHGZLWK:LQGRZV[,QWKLVFKDSWHU
ZHZLOOXVHWKH:+B-2851$/5(&25'KRRNWREXLOGWKHSLHFHRIWKHDSSOLFDWLRQ
WKDWUHFRUGVDPDFUR,Q&KDSWHUZHZLOOXVHWKH:+B-2851$/3/$<%$&.
KRRNWREXLOGWKHSLHFHRIWKHDSSOLFDWLRQWKDWSOD\VEDFNWKHUHFRUGHGPDFUR
'HVFULSWLRQ
KDUGZDUHPHVVDJHVWKDWWKHV\VWHPUHFHLYHV7KHV\VWHPUHGLUHFWVWKHVHPHVVDJHVWRWKLV
KRRN VILOWHUIXQFWLRQ7KHILOWHUIXQFWLRQFDQWKHQHLWKHUPRQLWRUWKHPHVVDJHRUFRS\LWWR
PHPRU\IRUODWHUXVHLWFDQQRWPRGLI\WKHPHVVDJHLQDQ\ZD\$IWHUWKHILOWHUIXQFWLRQLV
ILQLVKHGSURFHVVLQJWKHPHVVDJHLWSDVVHVWKHPHVVDJHRQWRWKHPHVVDJHORRSRIWKH WKUHDGIRUZKLFKLWZDVRULJLQDOO\GHVWLQHG
:KHQ\RXXVHWKLVKRRNWRFRS\PHVVDJHVWRPHPRU\\RXFDQSOD\WKHPEDFNXVLQJWKH
:+B-2851$/3/$<%$&.KRRNZKLFKZHGLVFXVVLQ&KDSWHU7\SLFDOO\\RXUHIHUWR WKHVHWZRKRRNV:+B-2851$/5(&25'DQG:+B-2851$/3/$<%$&.DVMRXUQDOLQJ
KRRNV
7KHIXQFWLRQSURWRW\SHIRUWKH:+B-2851$/5(&25'KRRN VILOWHUIXQFWLRQLV 3XEOLF)XQFWLRQ-RXUQDO3URF%\9DOX&RGH$V/RQJB
%\9DOZ3DUDP$V/RQJB
O3DUDP$V(9(1706* $V/RQJ
7KHX&RGHSDUDPHWHUFRQWDLQVDVSHFLDOFRGHWKDWLQIRUPVWKHILOWHUIXQFWLRQRIWKHDFWLRQV
WKDWLWFDQWDNHRQHDFKPHVVDJH7KHFRGHVSDVVHGLQWRWKHX&RGHDUJXPHQWDUHGLVFXVVHG
ODWHULQWKLVVHFWLRQ$Q(9(1706*VWUXFWXUHLVDOZD\VSDVVHGLQWRWKHO3DUDPDUJXPHQWRI
WKLVILOWHUIXQFWLRQ7KHZ3DUDPDUJXPHQWRIWKLVIXQFWLRQLVQRWXVHG
$PHVVDJHLVSDVVHGLQWRWKLVKRRN VILOWHUIXQFWLRQWKURXJKWKH(9(1706*VWUXFWXUHZKLFK
LVGHILQHGDVIROORZV
3ULYDWH7\SH(9(1706* PHVVDJH$V/RQJ
SDUDP/$V/RQJ
SDUDP+$V/RQJ
WLPH$V/RQJ
KZQG$V/RQJ
(QG7\SH
7KHPHPEHUVRIWKH(9(1706*VWUXFWXUHDUH PHVVDJH SDUDP/ SDUDP+ WLPH KZQG
7KHPHVVDJHLGHQWLILHU $PHVVDJHSDUDPHWHU7KHPHVVDJHW\SHGHILQHVWKHPHDQLQJIRUWKLVPHPEHU $PHVVDJHSDUDPHWHU7KHPHVVDJHW\SHGHILQHVWKHPHDQLQJIRUWKLVPHPEHU 7KHWLPHWKDWWKLVPHVVDJHZDVSRVWHG
7KHKDQGOHRIWKHZLQGRZWRZKLFKWKLV
PHVVDJHLVWREHVHQW
&RPSDUHWKLVVWUXFWXUHWRWKH06*VWUXFWXUHGHILQHGLQ&KDSWHU 3ULYDWH7\SH06* KZQG$V/RQJ
PHVVDJH$V/RQJ
Z3DUDP$V/RQJ
O3DUDP$V/RQJ
WLPH$V/RQJ
SW$V32,17$3,
(QG7\SH
7KH06*VWUXFWXUHLVWKHFRPSOHWHPHVVDJHVHQWWRWKHUDZLQSXWWKUHDG5,7 DQG
GLVSDWFKHGWRWKHUHOHYDQWPHVVDJHTXHXH7KHUHDUHDFRXSOHRIGLIIHUHQFHVEHWZHHQLWDQG
WKH(9(1706*VWUXFWXUH •
7KHZ3DUDPPHPEHURIWKH06*VWUXFWXUHPDSVWRWKHSDUDP/PHPEHUIRUWKH
•
7KHO3DUDPPHPEHURIWKH06*VWUXFWXUHPDSVWRWKHSDUDP+PHPEHURIWKH
•
7KH06*VWUXFWXUHKDVDSWPHPEHUDQGWKH(9(1706*VWUXFWXUHGRHVQRW7KHSW
(9(1706*VWUXFWXUH (9(1706*VWUXFWXUH
PHPEHULVD32,17$3,VWUXFWXUHWKDWFRQWDLQVWKH[DQG\FRRUGLQDWHVRIWKHPRXVH
SRLQWHUDWWKHWLPHWKLVPHVVDJHZDVVHQW7KLVVWUXFWXUHLVGHILQHGDVIROORZV • • •
3ULYDWH7\SH32,17$3, [$V/RQJ
\$V/RQJ
(QG7\SH
PHVVDJH VSOD\EDFN7KHWLPHPHPEHULVUHOHYDQWEHFDXVHLWLVXVHGWRV\QFKURQL]HWKH
SOD\EDFNRIHDFKPHVVDJH:HZLOOVHHKRZWKLVZRUNVLQ&KDSWHU
6WRSSLQJ7KLV+RRN :LQGRZVKDVDEXLOWLQZD\RIFDQFHOLQJWKHRSHUDWLRQRIDQ\W\SHRIMRXUQDOLQJKRRN7KHWZR
NH\FRPELQDWLRQVWKDWGRWKLVDUH&75/(6&DQG&75/$/7'(/:KHQWKHXVHUHQWHUVRQH
RIWKHVHNH\FRPELQDWLRQVWKHV\VWHPLPPHGLDWHO\VWRSVDQGUHPRYHVDOOMRXUQDOLQJKRRNV
7KLVRYHUULGHLVQHFHVVDU\EHFDXVHDVLQJOHPLVEHKDYLQJDSSOLFDWLRQFDQFDXVHWKHV\VWHPWR
KDQJ
:KHQ\RXLQVWDOOWKLVKRRNLWIRUFHVDOOLQSXWWREHVHULDOL]HG,QRWKHUZRUGVDOODSSOLFDWLRQV
ZLOOWDNHWXUQVUHDGLQJIURPWKHLUPHVVDJHTXHXHV7KLVDOORZVWKHKRRNWRUHFRUGPHVVDJHV
LQDQRUGHUO\IDVKLRQ2WKHUZLVHPHVVDJHVPLJKWEHUHFRUGHGRXWRIVHTXHQFHDQG
XQSUHGLFWDEOHEHKDYLRUPLJKWUHVXOWZKHQWKH:+B-2851$/3/$<%$&.KRRNSOD\VWKHP
EDFN,IRQHDSSOLFDWLRQKDQJVDOORWKHUDSSOLFDWLRQVPXVWZDLWXQWLOWKHKXQJDSSOLFDWLRQ
UHWXUQVLILWHYHUGRHV,ILWGRHVQRWUHWXUQWKHXVHUPXVWXVHHLWKHUWKH&75/(6&RUWKH
&75/$/7'(/NH\FRPELQDWLRQVWRVWRSWKHMRXUQDOLQJKRRNVDQGUHWXUQFRQWUROEDFNWRWKH
XVHU
7RGHWHUPLQHLIDXVHUKDVVWRSSHGMRXUQDOLQJWKURXJKRQHRIWKHVHNH\FRPELQDWLRQVWKH
DSSOLFDWLRQFDQZDWFKIRUWKH:0B&$1&(/-2851$/PHVVDJHHLWKHUE\DGGLQJFRGHWRWKH
PHVVDJHORRSWKLVFDQEHGRQHRQO\LQD&DSSOLFDWLRQ RUE\LQVWDOOLQJD
:+B*(70(66$*(KRRN
7KH:0B&$1&(/-2851$/PHVVDJHLVVHQWZLWKLWVKZQGPHPEHUVHWWR18//7KLV
FDXVHVWKH'LVSDWFK0HVVDJHIXQFWLRQLQWKHPHVVDJHORRSQRWWRVHQGWKLVPHVVDJHWRDQ\
ZLQGRZ)RUWKLVUHDVRQZHFDQQRWXVHDQ\W\SHRIVXEFODVVLQJPHWKRGWRZDWFKIRUWKLV
PHVVDJHEHFDXVHVXEFODVVLQJFDSWXUHVPHVVDJHVDIWHUWKH\KDYHEHHQGLVSDWFKHGWRWKH
DSSURSULDWHZLQGRZSURFHGXUH
7KH0LFURVRIWGRFXPHQWDWLRQIRUMRXUQDOLQJKRRNVUHFRPPHQGVXVLQJWKH&75/%5($.NH\
FRPELQDWLRQWRJUDFHIXOO\VWRSWKHMRXUQDOLQJKRRN7KHV\VWHPGRHVQRWDXWRPDWLFDOO\
LPSOHPHQWWKLVNH\FRPELQDWLRQWRVWRSDQGUHPRYHWKHMRXUQDOLQJKRRNVWKHUHIRUHZHPXVW
PDQXDOO\LPSOHPHQWLWLQRXUFRGH7KLVNH\FRPELQDWLRQKDVWKHYLUWXDONH\FRGH
9.B&$1&(/7KLVFRGHLVGHILQHGLQ9LVXDO%DVLF9% LQWKLVPDQQHU
3ULYDWH&RQVW9.B&$1&(/ +
,PSOHPHQWLQJWKLVNH\FRPELQDWLRQWRFDQFHOWKHUHFRUGLQJSURFHVVLVQRWYHU\KDUG7KLVFRGH
H[DPSOHGHPRQVWUDWHVKRZWRGRLW
,IO3DUDPPHVVDJH :0B.(<'2:1$QG*HW/RZ%\WHO3DUDPSDUDP/ 9.B&$1&(/
7KHQ
(QG,I
&DOO5HPRYH-RXUQDO+RRN
:KHQHYHUWKHILOWHUIXQFWLRQUHFHLYHVWKH:0B.(<'2:1PHVVDJHWKH(9(1706*
VWUXFWXUH VSDUDP/PHPEHUGHWHUPLQHVLIWKH&75/%5($.NH\FRPELQDWLRQLVSUHVVHG7KH
9.B&$1&(/YDOXHLVFRQWDLQHGZLWKLQWKHORZRUGHUE\WHRIWKHSDUDP/PHPEHURIWKH
(9(1706*VWUXFWXUH,IWKH9.B&$1&(/NH\FRPELQDWLRQLVIRXQGWKHFRGHVLPSO\FDOOVWKH
IXQFWLRQWRUHPRYHWKLVKRRN1RWHWKDWQRFRGHLVH[HFXWHGDIWHUWKHFDOOWR
5HPRYH-RXUQDO+RRN7KLVLVEHFDXVHWKHILOWHUIXQFWLRQLVUHPRYHGIURPWKHV\VWHP
ZKHQHYHUWKHKRRNLVUHPRYHGDQGWKHUHIRUHWKHFRGHDOVRLVUHPRYHG7RWHVWWKLVSODFHDQ
0VJ%R[IXQFWLRQDIWHUWKHFDOOWR5HPRYH-RXUQDO+RRN:KHQ\RXSUHVVWKH&75/%5($.
NH\FRPELQDWLRQWKH0VJ%R[IXQFWLRQQHYHUH[HFXWHV
7UDSSLQJWKLVNH\FRPELQDWLRQWRVWRSWKHKRRNZLOODOORZ\RXWRUHPRYHWKHKRRNJUDFHIXOO\
FDQFHOHGWKHUHFRUGLQJ7KH&75/(6&RU&75/$/7'(/NH\FRPELQDWLRQVZLOOVWRS
UHFRUGLQJLPPHGLDWHO\ZLWKRXWLQIRUPLQJ\RXUFRGHDQGJLYLQJ\RXDFKDQFHWRFOHDQXS
EHIRUHWKHKRRNLVUHPRYHG7KH&75/%5($.NH\FRPELQDWLRQLVMXVWDUHFRPPHQGDWLRQLW
LVQRWDUXOH
([SODQDWLRQRI+RRN&RGHV 7KHUHDUHWKUHHVSHFLILFKRRNFRGHVWKDWFDQEHSDVVHGLQWRWKLVKRRN VILOWHUIXQFWLRQ7KH
X&RGHDUJXPHQWRIWKHILOWHUIXQFWLRQZLOOUHFHLYHDQ\RIWKHIROORZLQJFRGHV HC_ACTION
,QIRUPVXVWKDWWKH5,7KDVGLVSDWFKHGDPHVVDJHDQGWKDWWKLVKRRNKDVLQWHUFHSWHG
LW7KHPHVVDJHLVFRQWDLQHGLQWKH(9(1706*VWUXFWXUH7KHFRQVWDQWLVGHILQHGDV
IROORZV
&RQVW+&B$&7,21 HC_SYSMODALON
,QIRUPVXVWKDWDV\VWHPPRGDOGLDORJER[KDVEHHQGLVSOD\HG$Q\WLPHDV\VWHP
PRGDOGLDORJER[LVGLVSOD\HGZHPXVWSDXVHWKHPHVVDJHUHFRUGLQJIXQFWLRQXQWLO
WKDWGLDORJER[KDVEHHQVKXWGRZQ7KHFRQVWDQWLVGHILQHGDVIROORZV
&RQVW+&B6<602'$/21 HC_SYSMODALOFF
,QIRUPVXVWKDWWKHV\VWHPPRGDOGLDORJER[KDVEHHQVKXWGRZQ$WWKLVWLPHZH
FDQUHVXPHRXUUHFRUGLQJ7KHFRQVWDQWLVGHILQHGDVIROORZV
&RQVW+&B6<602'$/2))
:HFDQLJQRUHWKH+&B6<602'$/21DQG+&B6<602'$/2))FRGHVEHFDXVHWKHVHWZR
FRGHVZHUHKHOGRYHUIURPWKH:LQGD\V,Q:LQWKHUHFDQQRWEHDWUXHV\VWHPPRGDO ZLQGRZVLQFHWKLVZRXOGFDXVHDOOZLQGRZVLQDOOWKUHDGVWRVWRSUHFHLYLQJLQSXWXQWLOWKH
V\VWHPPRGDOZLQGRZLVVKXWGRZQ:LQGRHVQRWDOORZWKLVWRKDSSHQEHFDXVHLWLVDWUXH
PXOWLWDVNLQJV\VWHP$OWKRXJK\RXFDQDGGWKHYE6\VWHP0RGDOVHWWLQJWRD9%PHVVDJHER[
WKLVVHWWLQJZLOOQRWDFWDVDV\VWHPPRGDOZLQGRZLQWKH:LQHQYLURQPHQW0HVVDJHVZLOO
VWLOOEHVHQWWRRWKHUZLQGRZV)RUH[DPSOHWKHFRGH
0VJ%R[7HVWYE6\VWHP0RGDO
FDXVHVWKHPHVVDJHER[WRDSSHDUDWWKHWRSRIWKHZLQGRZ=RUGHU7KHRQO\ZLQGRZWKDW
GRHVQRWUHFHLYHPHVVDJHVXQWLOWKLVPHVVDJHER[LVFORVHGLVWKHZLQGRZWKDWFUHDWHGWKH
PHVVDJHER[
7KH:LQ0HVVDJH%R[([DSSOLFDWLRQSURJUDPPLQJLQWHUIDFH$3, IXQFWLRQDOVRKDV
0%B6<67(002'$/DFRQVWDQWVLPLODUWRWKH9%YE6\VWHP0RGDOVHWWLQJ0HVVDJHER[HV
ZLWKWKLVW\SHRIVHWWLQJZRUNLQDIDVKLRQVLPLODUWR9%PHVVDJHER[HVZLWKWKH
YE6\VWHP0RGDOVHWWLQJ
$VXVXDOZHVKRXOGVNLSRXUKRRNSURFHVVLQJDQGLPPHGLDWHO\FDOO&DOO1H[W+RRN([LIWKH
X&RGHDUJXPHQWLVOHVVWKDQ]HUR
/RFDWLRQRI7KLV+RRNLQWKH6\VWHP 7KLVKRRNLVORFDWHGDWWKHSRLQWLQVLGHWKHWKUHDGWKDWLQVWDOOHGWKHMRXUQDOKRRN)LJXUH
VKRZVZKHUHWKHPDLQWKUHDGRISURFHVV%KDVLQVWDOOHGWKH:+B-2851$/5(&25'KRRN )LJXUH7KHORFDWLRQRIWKH:+B-2851$/5(&25'KRRNLQWKHPHVVDJLQJV\VWHP
$VZLWKWKH:+B-2851$/3/$<%$&.:+B.(<%2$5'B//DQG:+B0286(B//KRRNV
\RXFDQLQVWDOOWKH:+B-2851$/5(&25'KRRNRQO\DVDV\VWHPZLGHKRRN7RUHYLHZ
WKHVHKRRNVFDQUHVLGHHLWKHULQDQ(;(RUG\QDPLFOLQNOLEUDU\'// PRGXOH7KLVPHDQV
WKDWZHFDQLPSOHPHQWWKHVHKRRNVVROHO\ZLWKLQ9%7KLVLVEHFDXVHWKHKRRNV ILOWHU
IXQFWLRQVDUHFDOOHGIURPZLWKLQWKHFRQWH[WRIWKHWKUHDGWKDWKDVLQVWDOOHGWKHVHWZRW\SHVRI
KRRNV
2UGLQDULO\ZKHQ\RXLQVWDOODKRRNDVDV\VWHPZLGHKRRN\RXPXVWSODFHLWLQD'//7KLV '//LVLQMHFWHGLQWRHYHU\SURFHVVVRWKDWWKHKRRNFDQRSHUDWHRQDOOPHVVDJHVLQWKH
V\VWHP+RZHYHULQWKHFDVHRIWKHVHIRXUKRRNVWKHKRRNFDQEHLQVWDOOHGIRUDVLQJOH
WKUHDGDQGVWLOOUHFHLYHHYHU\PHVVDJHWKDWWKHV\VWHPJHQHUDWHVEHFDXVHHYHU\PHVVDJHLV
EHLQJIXQQHOHGWKURXJKDVLQJOHPHVVDJHTXHXH$VDUHVXOWWKHKRRNGRHVQRWKDYHWR
UHVLGHLQD'//LWFDQUHVLGHLQDQ(;(DVZHOO
1RUPDOO\HYHU\WKUHDGLVFRQQHFWHGWRLWVRZQPHVVDJHTXHXH7KHVHPHVVDJHTXHXHV
UHFHLYHPHVVDJHVIURPWKH5,77KLVDUFKLWHFWXUHJLYHVDOOELW:LQGRZVRSHUDWLQJV\VWHPV
UREXVWPXOWLWKUHDGLQJFDSDELOLW\DQGSUHYHQWVRQHDSSOLFDWLRQIURPKDQJLQJWKHZKROHV\VWHP
WKLVE\FDOOLQJWKH$WWDFK7KUHDG,QSXW$3,IXQFWLRQ7KLVIXQFWLRQLVGHFODUHGLQ9%DVIROORZV
3ULYDWH'HFODUH)XQFWLRQ$WWDFK7KUHDG,QSXW/LEXVHUB
$OLDV$WWDFK7KUHDG,QSXWB
%\9DOLG$WWDFK$V/RQJB
%\9DOLG$WWDFK7R$V/RQJB
,WVSDUDPHWHUVDUH LG$WWDFK
%\9DOI$WWDFK$V/RQJ $V/RQJ
7KHWKUHDG,'RIWKHWKUHDGWREHDWWDFKHGWRDQRWKHUWKUHDG VPHVVDJHTXHXH
LG$WWDFK7R
7KHWKUHDG,'RIWKHWKUHDGFRQWDLQLQJWKHPHVVDJHTXHXHWRZKLFKWKHWKUHDG
I$WWDFK
VSHFLILHGE\LG$WWDFKLVDWWDFKHG
7UXHVSHFLILHVWRDWWDFKWKHWZRWKUHDGV)DOVHVSHFLILHVWRXQDWWDFKWKHWZRWKUHDGV
$UHWXUQYDOXHRI]HURLQGLFDWHVWKDWWKLVIXQFWLRQIDLOHGDQ\RWKHUYDOXHLQGLFDWHVVXFFHVV
1RWHWKDWDWKUHDGFDQQRWEHDWWDFKHGWRWKH5,7WRLWVHOIRUWRDWKUHDGLQDQRWKHUGHVNWRS
7KHPHVVDJHTXHXHWKDWLVXVHGE\WKHWKUHDGWKDWLG$WWDFKVSHFLILHVGRHVQRWUHFHLYHLQSXW
DIWHUWKLVWKUHDGLVDWWDFKHGWRWKHRWKHUPHVVDJHTXHXH
7KHPHVVDJHTXHXHWKDWLVXVHGE\WKHWKUHDGWKDWLG$WWDFKVSHFLILHVGRHVQRWUHFHLYHLQSXW
DIWHUWKLVWKUHDGLVDWWDFKHGWRWKHRWKHUPHVVDJHTXHXH
:KHQRQHRIWKHVHIRXUKRRNVLVLQVWDOOHGLQDWKUHDGWKHV\VWHPDWWDFKHVDOOWKUHDGVWRWKH
PHVVDJHTXHXHRIWKHWKUHDGWKDWLQVWDOOHGWKHKRRN7KLVLVVLPLODUWRFDOOLQJ
$WWDFK7KUHDG,QSXWIRUHDFKWKUHDGDV)LJXUHLOOXVWUDWHV%HFDXVHDVLQJOHPHVVDJH
TXHXHLVIHHGLQJDOOWKUHDGVLQWKHV\VWHPWKHKRRNFDQEHFDOOHGIURPZLWKLQWKHFRQWH[WRI
WKHWKUHDGWKDWLQVWDOOHGWKHKRRNWKH9%DSSOLFDWLRQ
)LJXUH7KUHDGVWDWHEHIRUHDQGDIWHUDMRXUQDOKRRNLVLQVWDOOHG
7KH0DFUR5HFRUGHU([DPSOH $VPHQWLRQHGSUHYLRXVO\WKHH[DPSOHGHPRQVWUDWLQJWKLVKRRNLVDQDSSOLFDWLRQWKDWUHFRUGV
XVHUDFWLRQV
LQ&KDSWHUZKHUHZH OOFRPSOHWHWKLVSRUWLRQRIRXUDSSOLFDWLRQ)LJXUHGLVSOD\VD VFUHHQVKRWRIWKLVDSSOLFDWLRQ
)LJXUH$VFUHHQVKRWRIWKHH[DPSOHDSSOLFDWLRQ
7DEOHSUHVHQWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV
7KH5(&25'IUDPHRQWKLVIRUPKROGVWZREXWWRQV7KHKRRNEXWWRQZLOOLQVWDOOWKH
:+B-2851$/5(&25'KRRNDQGWKHXQKRRNEXWWRQZLOOUHPRYHWKLVKRRN7KH7(67
$5($IUDPHLQFOXGHVDQ06*%2;EXWWRQWKDWGLVSOD\VDWHVWPHVVDJHER[ZLWKDQ2.
EXWWRQ$WH[WER[DQGDFKHFNER[DOVRDUHLQFOXGHG
VRPHVLPSOHPDFURV
7RRSHUDWHWKLVDSSOLFDWLRQFOLFNWKHKRRNEXWWRQDQGWKHQSHUIRUPVRPHDFWLRQV7KHVH DFWLRQVFRXOGEHFOLFNLQJWKH06*%2;EXWWRQWRFUHDWHDPHVVDJHER[FKHFNLQJDQG
XQFKHFNLQJWKHFKHFNER[RUHYHQSHUIRUPLQJDFWLRQVRQDVHSDUDWHDSSOLFDWLRQ7RVWRSWKH
UHFRUGLQJFOLFNWKHXQKRRNEXWWRQ
,QLWLDOO\WKLVDSSOLFDWLRQZLOOQRWGRPXFK&KDSWHUZKLFKLQWURGXFHVWKH
:+B-2851$/3/$<%$&.KRRNZLOOFRPSOHWHWKHIXQFWLRQDOLW\IRUWKLVPDFURUHFRUGHU
DSSOLFDWLRQ
7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW7\SH
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
1DPH
)RUP
)RUP
&DSWLRQ
5HFRUGHU$SSOLFDWLRQ
)RUP
7RS
)RUP
/HIW
)RUP
+HLJKW
)RUP
:LGWK
)UDPH
&DSWLRQ
5(&25'
)UDPH
1DPH
)UDPH
)UDPH
7RS
)UDPH
/HIW
)UDPH
+HLJKW
)UDPH
:LGWK
)UDPH
&DSWLRQ
3/$<%$&.
)UDPH
1DPH
)UDPH
)UDPH
7RS
)UDPH
/HIW
)UDPH
+HLJKW
)UDPH
:LGWK
)UDPH
&DSWLRQ
7(67$5($
)UDPH
1DPH
)UDPH
)UDPH
7RS
)UDPH
/HIW
)UDPH
+HLJKW
)UDPH
:LGWK
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG+RRN
&RPPDQG%XWWRQ
&DSWLRQ
KRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG8Q+RRN
&RPPDQG%XWWRQ
&DSWLRQ
XQKRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
&DSWLRQ
06*%2;
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&KHFN%R[
&DSWLRQ
7HVW&KHFN%R[&RQWURO
&KHFN%R[
7RS
&KHFN%R[
/HIW
&KHFN%R[
+HLJKW
&KHFN%R[
:LGWK
/HW VVWDUWH[DPLQLQJWKHDSSOLFDWLRQ VFRGHE\ORRNLQJDW0RGXOHEDVWKHDSSOLFDWLRQ VFRGH
PRGXOH:HPXVWLQLWLDOO\GHILQHVHYHUDOYDULDEOHVIRUWKLVDSSOLFDWLRQ
3ULYDWHK5HFRUG+RRN$V/RQJ 3ULYDWH0VJ$UUD\ $V/RQJ 3ULYDWH6WDUW7LPH$V/RQJ
3XEOLF,V+RRNHG$V%RROHDQ
7KHK5HFRUG+RRNYDULDEOHZLOOKROGWKHKRRNKDQGOHZKLFKLVUHWXUQHGIURPWKH
6HW:LQGRZV+RRN([IXQFWLRQDQGLVXVHGLQVHYHUDORWKHUIXQFWLRQV)RUWKLVUHDVRQLWLV
GHFODUHGDVDPRGXOHOHYHOYDULDEOH7KH8Q+RRN:LQGRZV+RRN([IXQFWLRQXVHVWKLVKDQGOH
ZKHQUHPRYLQJDKRRNDQGWKH&DOO1H[W+RRN([IXQFWLRQXVHVLWZKHQFDOOLQJWKHQH[WKRRN
LQWKHKRRNFKDLQ
7KH0VJ$UUD\YDULDEOHLVDPXOWLGLPHQVLRQDOG\QDPLFDUUD\WKDWFRQWDLQVWKHPHVVDJHVWKDW
WKLVKRRNUHFRUGV7KH:0B-2851$/3/$<%$&.KRRNXVHVWKLVDUUD\WRSOD\EDFNWKH
PHVVDJHV
H[FHVVLYHO\ODUJH
7KH6WDUW7LPHYDULDEOHZLOOKROGWKHWLPHLQZKLFKWKHKRRNVWDUWHGUHFRUGLQJ7KLVYDOXHLV
VXEWUDFWHGIURPWKHWLPHPHPEHULQWKH(9(1706*VWUXFWXUHWRJHWWKHDPRXQWRIWLPH
EHWZHHQZKHQWKHKRRNZDVLQVWDOOHGDQGWKHPHVVDJHZDVGLVSDWFKHGWRLWVUHVSHFWLYH
WKUHDG7KHSXUSRVHRIWKLVZLOOEHFRPHDSSDUHQWZKHQZHDWWHPSWWRSOD\EDFNWKHVH
PHVVDJHVDWWKHVDPHSDFHDWZKLFKWKH\ZHUHUHFRUGHG
7KH%RROHDQ,V+RRNHGYDULDEOHLVXVHGDVDIODJWRGHWHUPLQHZKHWKHUWKHKRRNKDVEHHQVHW
7KLVZLOOSUHYHQWXVIURPLQVWDOOLQJWKLVKRRNPRUHWKDQRQFH
7KHILUVWIXQFWLRQWKDWZHQHHGLVWKHILOWHUIXQFWLRQ7KLVIXQFWLRQLVQDPHG-RXUQDO3URFDQGLV
GHILQHGLQ([DPSOH7KLVIXQFWLRQUHFRUGVDPHVVDJHRQO\ZKHQWKHX&RGHDUJXPHQW LVHTXDOWR+&B$&7,21%HIRUHDFWXDOO\UHFRUGLQJWKHPHVVDJHWKHIXQFWLRQZLOOWHVWWR
GHWHUPLQHZKHWKHUWKHXVHUSUHVVHGWKH&75/%5($.NH\FRPELQDWLRQ,IWKHXVHUGLGSUHVV
WKLVNH\FRPELQDWLRQWKHFRGHZLOOFOHDQXSDIWHULWVHOIDQGUHPRYHWKHKRRN,IWKHXVHUGLG
QRWWKHFRGHZLOOFRS\WKHVWUXFWXUHPHPEHUVWRZKLFKWKHO3DUDPDUJXPHQWSRLQWHGLQWRWKH
G\QDPLFDUUD\0VJ$UUD\1RWLFHWKDWWKHWLPHFRSLHGLQWRWKLVDUUD\LVWKHFXUUHQWWLPHPLQXV
WKHWLPHWKDWWKHUHFRUGLQJZDVVWDUWHG7KHODVWWKLQJWKDWWKLVILOWHUIXQFWLRQGRHVLVFDOO &DOO1H[W+RRN([WRSDVVWKLVLQIRUPDWLRQWRWKHQH[WILOWHUIXQFWLRQLQWKHKRRNFKDLQ
([DPSOH7KH-RXUQDO3URF)LOWHU)XQFWLRQ 3XEOLF)XQFWLRQ-RXUQDO3URF%\9DOX&RGH$V/RQJB
,IX&RGH +&B$&7,217KHQ
%\9DOZ3DUDP$V/RQJB
O3DUDP$V(9(1706* $V/RQJ
,IO3DUDPPHVVDJH :0B.(<'2:1$QG*HW/RZ%\WHO3DUDPSDUDP/ 9.B&$1&(/
7KHQ
3ODFHFOHDQXSFRGHKHUH &DOO5HPRYH-RXUQDO+RRN
&RGHSODFHGKHUHZLOOQRWEHH[HFXWHG
(QG,I
0VJ$UUD\8%RXQG0VJ$UUD\ X&RGH
0VJ$UUD\8%RXQG0VJ$UUD\ O3DUDPPHVVDJH 0VJ$UUD\8%RXQG0VJ$UUD\ O3DUDPKZQG
0VJ$UUD\8%RXQG0VJ$UUD\ O3DUDPSDUDP+ 0VJ$UUD\8%RXQG0VJ$UUD\ O3DUDPSDUDP/
0VJ$UUD\8%RXQG0VJ$UUD\ O3DUDPWLPH6WDUW7LPH
5H'LP3UHVHUYH0VJ$UUD\8%RXQG0VJ$UUD\ $V/RQJ (OVH,IX&RGH +&B6<602'$/217KHQ 6NLSUHFRUGLQJ
(OVH,IX&RGH +&B6<602'$/2))7KHQ 6NLSUHFRUGLQJ
(QG,I
-RXUQDO3URF &DOO1H[W+RRN([K5HFRUG+RRNX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
7KH6HW-RXUQDO+RRNVXEURXWLQHVKRZQLQ([DPSOHVHWVXSDQGLQVWDOOVWKLVMRXUQDOLQJ
KRRN7KH,V+RRNHGIODJLVFKHFNHGWRGHWHUPLQHLIWKHKRRNKDVDOUHDG\EHHQLQVWDOOHG,ILW
KDVQRWWKH0VJ$UUD\DUUD\LVLQLWLDOL]HGWKH6WDUW7LPHYDULDEOHLVVHWWRWKHFXUUHQWV\VWHP
WLPHDQGWKH6HW:LQGRZV+RRN([IXQFWLRQLQVWDOOVWKHKRRN1RWLFHWKDWWKLVKRRNLVLQVWDOOHG
VLPLODUWRDV\VWHPZLGHKRRNHYHQWKRXJKLWVILOWHUIXQFWLRQUHVLGHVLQWKLVDSSOLFDWLRQDQGQRW
LQD'//
([DPSOH,QVWDOOLQJWKH:+B-2851$/5(&25'+RRN 3XEOLF6XE6HW-RXUQDO+RRN ,I,V+RRNHG7KHQ
0VJ%R['RQ WKRRNLWWZLFHZLWKRXWXQKRRNLQJRU\RXZLOOEHXQDEOH
WRXQKRRNLW
(OVH
5H'LP0VJ$UUD\ $V/RQJ 6WDUW7LPH *HW7LFN&RXQW
K5HFRUG+RRN 6HW:LQGRZV+RRN([:+B-2851$/5(&25'B
$GGUHVV2I-RXUQDO3URF$SSK,QVWDQFH ,V+RRNHG 7UXH (QG,I
(QG6XE
7RUHPRYHWKHKRRNWKH5HPRYH-RXUQDO+RRNVXEURXWLQHVKRZQLQ([DPSOHFDOOV
8QKRRN:LQGRZV+RRN([ZLWKWKHKRRN VKDQGOH7KHO5HW9DOUHWXUQYDOXHIRUWKLVIXQFWLRQLV
WHVWHGIRUDVXFFHVVRUIDLOXUHWRUHPRYHWKHKRRN,IVXFFHVVIXOWKH,V+RRNHGIODJLVVHWWR
)$/6(
([DPSOH5HPRYLQJWKH:+B-2851$/5(&25'+RRN 3XEOLF6XE5HPRYH-RXUQDO+RRN 'LPO5HW9DO$V/RQJ
O5HW9DO 8QKRRN:LQGRZV+RRN([K5HFRUG+RRN
,V+RRNHG )DOVH
(QG6XE
*HW/RZ%\WHLVDIXQFWLRQWKDWWKHKRRNSURFHGXUHFDOOVWKDWUHWXUQVWKHORZRUGHUE\WHRIWKH
O9DOXHDUJXPHQWDV([DPSOHLOOXVWUDWHV
IXQFWLRQ
([DPSOH7KH*HW/RZ%\WH)XQFWLRQ 3XEOLF)XQFWLRQ*HW/RZ%\WH%\5HIO9DOXH$V/RQJ $V/RQJ *HW/RZ%\WH O9DOXH$QG +)) (QG)XQFWLRQ
)LQDOO\([DPSOHVKRZVWKHFRGHWKDWLVSODFHGLQWKHIRUPPRGXOH7KHVXEURXWLQHV
XQGHUWKH5(&25'VHFWLRQRIWKHIRUPPRGXOHFRGHLQVWDOODQGUHPRYHWKHKRRN7KH
VXEURXWLQHXQGHUWKH7(67VHFWLRQVLPSO\GLVSOD\VDPHVVDJHER[ZKLFKFDQEHXVHGLQWKH
UHFRUGLQJSURFHVV7KH&/($183VHFWLRQFRQWDLQVWKH4XHU\8QORDGVXEURXWLQHZKLFKWHVWV
IRUDQDFWLYHKRRN,IWKHKRRNLVLQVWDOOHGDZDUQLQJLVGLVSOD\HGLQIRUPLQJWKHXVHUWRUHPRYH
WKHKRRNEHIRUHFORVLQJWKHDSSOLFDWLRQ,QVWHDGRIWKLVPHVVDJHZHFRXOGFDOOWKH
5HPRYH-RXUQDO+RRNIXQFWLRQWRDXWRPDWLFDOO\UHPRYHWKHKRRN ([DPSOH7KH6RXUFH&RGHIRU)RUPIUP
5(&25'
3ULYDWH6XEFPG+RRNB&OLFN &DOO,QLW$UUD\
&DOO6HW-RXUQDO+RRN
(QG6XE
3ULYDWH6XEFPG8Q+RRNB&OLFN
&DOO5HPRYH-RXUQDO+RRN
(QG6XE
7(67
3ULYDWH6XE&RPPDQGB&OLFN
0VJ%R[-RXUQDOLQJ7HVW0HVVDJH%R[
(QG6XE
&/($183
3ULYDWH6XE)RUPB4XHU\8QORDG&DQFHO$V,QWHJHU8QORDG0RGH$V,QWHJHU
,I,V+RRNHG7KHQ &DQFHO
0VJ%R[8QKRRNEHIRUHFORVLQJRUWKHDSSOLFDWLRQPD\FUDVK
(QG,I
(QG6XE
&DYHDWV 7KLVKRRNLQHIIHFWIRUFHVHYHU\WKUHDGWRUHFHLYHPHVVDJHVIURPDVLQJOHTXHXH7KLVLV
KRZWKHELW:LQGRZVRSHUDWLQJV\VWHPVZRUNV7KHUHIRUHWKHRSHUDWLQJV\VWHPFDQQRW
WDNHDGYDQWDJHRIPXOWLWDVNLQJ$SUREOHPWKDWRFFXUVLQDOOELW:LQGRZVRSHUDWLQJ
V\VWHPVFDQQRZRFFXULQELW:LQGRZVRSHUDWLQJV\VWHPVDVLQJOHDSSOLFDWLRQFDQKDQJ
DOODSSOLFDWLRQVHYHQWKHGHVNWRS7KLVLVWKHUHDVRQIRUKDYLQJWKH&75/(6&DQG&75/
$/7'(/NH\FRPELQDWLRQVEXLOWLQWRWKHV\VWHPWRUHPRYHDQ\MRXUQDOKRRNV
%HFDXVHWKLVKRRNVHULDOL]HVDOOLQSXWWRDOOZLQGRZVWKHUHLVDODUJHSHUIRUPDQFHSHQDOW\
LQVWDOOWKHPIRUDVOLWWOHWLPHDVSRVVLEOH:LQGRZVFDQQRWWDNHDGYDQWDJHRILWVPXOWLWDVNLQJ
SRZHUZKHQWKLVKRRNLVLQVWDOOHG
:KHQ\RXXVHWKLVKRRN\RXPLJKWHQFRXQWHUDSUREOHPZLWKWKHPRXVHZKHHO7KLVSUREOHP
LVUHFRUGHGXQGHU,'435%:0B0286(:+((/'HOWD9DOXHV1RW6XSSRUWHGE\
-RXUQDO+RRNVLQWKH0LFURVRIW'HYHORSHU1HWZRUN06'1 ,QVKRUWWKLVKRRNGRHVQRW
UHFRUGWKHZKHHOGHOWDYDOXH7KHUHIRUHZKHQWKHPHVVDJHVDUHSOD\HGEDFNWKURXJKWKH
:+B-2851$/3/$<%$&.KRRNWKHPRXVHZKHHOURWDWLRQVDUHQRWSOD\HGEDFN7KLVLV
EHFDXVHWKHZKHHOGHOWDYDOXHLVSODFHGLQWKHZ3DUDPPHPEHURIWKH:0B0286(:+((/
PHVVDJHZKLFKWKLVKRRNGRHVQRWUHFRUG7KHUHVWRIWKH:0B0286(:+((/PHVVDJH KRZHYHULVUHFRUGHGDQGSOD\HGEDFN
7KLVKRRNFDQQRWUHFRUGWKH&75/(6&DQG&75/$/7'(/NH\FRPELQDWLRQV6LPLODUO\DQ\
NH\RUNH\FRPELQDWLRQWKDW\RXPLJKWXVHWRJUDFHIXOO\H[LWWKHKRRNVKRXOGQRWEHUHFRUGHG
&KDSWHU:+B-2851$/3/$<%$&. &KDSWHUGLVFXVVHGWKH:+B-2851$/5(&25'KRRNDQGKRZ\RXFDQXVHLWWRUHFRUG
PRXVHDQGNH\ERDUGLQSXWPHVVDJHV7KLVFKDSWHUZLOOFRYHUWKH:+B-2851$/3/$<%$&.
KRRNZKLFKLVWKHFRXQWHUSDUWWRWKH:+B-2851$/5(&25'KRRNWKDW\RXFDQXVHWRSOD\
EDFNPRXVHDQGNH\ERDUGPHVVDJHV$IWHUGLVFXVVLQJWKH:+B-2851$/3/$<%$&.KRRN,
ZLOOGHPRQVWUDWHKRZ\RXFDQXVHWKLVKRRNWRILQLVKWKHPDFURUHFRUGHUH[DPSOHDSSOLFDWLRQ
WKDWZHEHJDQLQ&KDSWHU
'HVFULSWLRQ 7KH:+B-2851$/3/$<%$&.KRRNSURYLGHVDZD\WRSOD\EDFNPHVVDJHVWRWKH:LQGRZV
RSHUDWLQJV\VWHP:KHQ,VD\SOD\EDFNPHVVDJHV,PHDQWRSRVWSUHUHFRUGHGPHVVDJHV
WRWKHUDZLQSXWWKUHDG5,7 PHVVDJHTXHXHVRWKDWWKHV\VWHPFDQSURFHVVWKHP)URPWKH
V\VWHP VSRLQWRIYLHZPHVVDJHVSOD\HGEDFNLQWKLVPDQQHUDUHQRGLIIHUHQWIURPPHVVDJHV
LQSXWWKURXJKDNH\ERDUGRUPRXVH
7KLVKRRNZRUNVGLIIHUHQWO\WKDQWKHRWKHUKRRNVGR,QVWHDGRILQWHUFHSWLQJPHVVDJHVZLWKLQ
WKHPHVVDJHVWUHDPWKLVKRRNSRVWVPHVVDJHVWRWKH5,7PHVVDJHTXHXH$IWHU\RXLQVWDOO
WKLVKRRNWKHPHVVDJHORRSLQWKH5,7FHDVHVWRUHPRYHPHVVDJHVIURPLWVPHVVDJHTXHXH
WKDWZHUHSODFHGWKHUHE\QRUPDONH\ERDUGDQGPRXVHLQSXWDQGLWVWDUWVDFFHSWLQJRQO\
PHVVDJHVIURPWKHKRRN VILOWHUIXQFWLRQ0RUHVSHFLILFDOO\LWUHFHLYHVWKHDFWXDOPHVVDJH
IURPWKHILOWHUIXQFWLRQ VO3DUDPDUJXPHQW7KLVLVZK\WKHV\VWHPVHHPVDVWKRXJKLWLVQRW DFFHSWLQJLQSXWIURPWKHNH\ERDUGRUPRXVHZKLOHWKHKRRNLVLQVWDOOHG
:KLOHWKLVKRRNLVLQVWDOOHGHYHQWVWKDWWKHPRXVHDQGNH\ERDUGSURGXFHDUHSODFHGLQWKH
5,7 VPHVVDJHTXHXHDVWKH\QRUPDOO\ZRXOGEH7KHVHTXHXHGPHVVDJHVDUHQRWSDVVHG
RQWRWKH5,7 VPHVVDJHORRSXQWLOWKH:+B-2851$/3/$<%$&.KRRNLVUHPRYHG$IWHUWKLV
KRRNLVUHPRYHGWKHTXHXHGPHVVDJHVDUHVHQWWRWKHLUUHVSHFWLYHZLQGRZV7KHPHPRU\
VSDFHWKDWFDQEHDOORFDWHGIRUWKHPHVVDJHTXHXHLVQRWLQILQLWHWKHUHIRUHPRXVHRU NH\ERDUGHYHQWVDUHORVWDIWHUWKLVTXHXHLVILOOHG
7KHSURWRW\SHIRUWKH:+B-2851$/3/$<%$&.KRRNLV
3XEOLF)XQFWLRQ-RXUQDO3OD\EDFN3URF%\9DOX&RGH$V/RQJB
%\9DOZ3DUDP$V/RQJB
O3DUDP$V(9(1706* $V/RQJ
7KHV\VWHPFDQVHQGRQHRIVHYHUDOFRGHVWRWKLVILOWHUIXQFWLRQ VX&RGHDUJXPHQW7KHWZR
PRVWLPSRUWDQWFRGHVDUH+&B*(71(;7DQG+&B6.,3,ZLOOGLVFXVVWKHVHDQGWKH
UHPDLQLQJFRGHVLQWKHQH[WVHFWLRQ
7KLVKRRNGRHVQRWXVHWKHZ3DUDPDUJXPHQW7KHO3DUDPDUJXPHQWFRQWDLQVDSRLQWHUWR
WKH(9(1706*VWUXFWXUH7KLVLVWKHVDPHVWUXFWXUHWKDW,GHVFULEHGLQ&KDSWHU7KH GLIIHUHQFHEHWZHHQWKHO3DUDPDUJXPHQWRIWKLVKRRNDQGRIWKH:+B-2851$/5(&25'
KRRNLVWKDWIRUWKLVKRRNWKHGHYHORSHUPXVWILOOWKHO3DUDPDUJXPHQWZLWKDYDOLG
(9(1706*VWUXFWXUH7KH:+B-2851$/5(&25'KRRNSURYLGHVDPHVVDJHVWUXFWXUHLQ
WKHO3DUDPVRWKDWWKHGHYHORSHUFDQPRQLWRURUUHFRUGWKHPHVVDJH7KH(9(1706*
VWUXFWXUHLVWKHQFRQYHUWHGWRDQ06*VWUXFWXUHDQGWKH5,7GLVSDWFKHVLWWRWKHDSSURSULDWH
WKUHDG
$QLQVWDOOHG:+B-2851$/3/$<%$&.KRRNZLOODFFHSWPHVVDJHVWKURXJKLWVILOWHUIXQFWLRQ V
O3DUDPDUJXPHQW:KHQWKLVILOWHUIXQFWLRQUHWXUQVLWFDXVHVWKHPHVVDJHWREHSODFHGDWWKH
KHDGRIWKHPHVVDJHTXHXH7KH5,7 VPHVVDJHORRSWKHQSURFHVVHVWKLVPHVVDJHDQG
VHQGVLWWRWKHFRUUHFWZLQGRZ
7KHILOWHUIXQFWLRQ VUHWXUQYDOXHLVXVHGIRUWLPLQJSXUSRVHV,IDGHYHORSHUVHWVWKHUHWXUQ
YDOXHWR]HURWKHUHLVQRGHOD\EHWZHHQPHVVDJHVEHLQJVHQWDQGSURFHVVHG,IDGHYHORSHU
VHWVWKHUHWXUQYDOXHWRDQ\YDOXHJUHDWHUWKDQ]HURDGHOD\LVLQWURGXFHGEHWZHHQWKH
VHQGLQJRIPHVVDJHV7KHUHWXUQYDOXHLVHTXDOWRWKHQXPEHURIFORFNWLFNVWKDWWKHKRRN
PXVWZDLWEHIRUHVHQGLQJWKHQH[WPHVVDJH7KLVUHWXUQYDOXHLVXVHGRQO\LIWKHX&RGH
DUJXPHQWLVHTXDOWR+&B*(71(;7RWKHUZLVHLWLVLJQRUHG
7KLVKRRNLVVLPLODUWRWKH:+B-2851$/5(&25'KRRNLQWKHIROORZLQJZD\V • • • • • •
%RWKDUHV\VWHPZLGHKRRNVWKDW\RXFDQSODFHLQDQ(;(RULQDG\QDPLFOLQNOLEUDU\
'// PRGXOH
%RWKKRRNV ILOWHUIXQFWLRQVDUHFDOOHGIURPZLWKLQWKHFRQWH[WRIWKHWKUHDGLQZKLFK
WKH\UHVLGH
FRPELQDWLRQV
:KHQ\RXVWRSHLWKHUKRRNXVLQJWKHDIRUHPHQWLRQHGNH\FRPELQDWLRQVWKH
:0B&$1&(/-2851$/PHVVDJHLVVHQWWRWKHKRRNLQJDSSOLFDWLRQ
0LFURVRIWUHFRPPHQGVDGGLQJWKH&75/%5($.NH\FRPELQDWLRQWRDOORZWKHXVHUWR
JUDFHIXOO\VWRSHLWKHUKRRN
([SODQDWLRQRI+RRN&RGHV 7KHILOWHUIXQFWLRQ VX&RGHDUJXPHQWFDQUHFHLYHDQ\RIILYHGLIIHUHQWFRGHV7KHVHFRGHVDUH HC_GETNEXT :KHQWKHILOWHUIXQFWLRQUHFHLYHVWKLVFRGHWKHIXQFWLRQPXVWSODFHWKHQH[WPHVVDJH
WREHSOD\HGLQWRWKH(9(1706*VWUXFWXUH,IDPHVVDJHLVUHSHDWHGPDQ\WLPHV
WKLVFRGHZLOOEHVHQWLQVXFFHVVLRQRQHWLPHIRUHDFKUHSHDWHGPHVVDJH
7KHUHWXUQYDOXHIRUWKHILOWHUIXQFWLRQGHWHUPLQHVKRZORQJWRZDLWEHIRUHVHQGLQJWKH
FXUUHQWPHVVDJH%HFDXVHPHVVDJHVDUHVHQWRQO\IRUWKH+&B*(71(;7FRGHWKH
UHWXUQYDOXHIRUWKHILOWHUIXQFWLRQZLOOFDXVHWKHV\VWHPWRZDLWRQO\ZKHQWKLVFRGHLV
UHFHLYHG
7KH+&B*(71(;7FRQVWDQWLVGHILQHGDVIROORZV
&RQVW+&B*(71(;7 HC_SKIP
:KHQWKHILOWHUIXQFWLRQUHFHLYHVWKLVFRGHWKHIXQFWLRQPXVWSUHSDUHWRSODFHWKH
QH[WPHVVDJHLQWRWKH(9(1706*VWUXFWXUH7KLVPHVVDJHZLOOEHSOD\HGWKHQH[W
WLPHWKLVIXQFWLRQUHFHLYHVWKH+&B*(71(;7FRGH
7KH+&B6.,3FRGHLVVHQWWRWKHILOWHUIXQFWLRQZKHQWKH5,7 VPHVVDJHORRSKDV
SURFHVVHGDQGVHQWWRLWVGHVWLQDWLRQWKUHDGWKHPHVVDJHVHQWRQWKHSUHYLRXV
+&B*(71(;7FRGH8VXDOO\WKH+&B*(71(;7DQG+&B6.,3FRGHVDUHLQWHUODFHG
DVVKRZQKHUH
+&B*(71(;73OD\PHVVDJH
+&B6.,33UHSDUHWRSOD\PHVVDJH +&B*(71(;73OD\PHVVDJH
+&B6.,33UHSDUHWRSOD\PHVVDJH +&B*(71(;73OD\PHVVDJH
+&B6.,33UHSDUHWRSOD\PHVVDJH +&B*(71(;73OD\PHVVDJH
+&B6.,33UHSDUHWRSOD\PHVVDJH +&B*(71(;73OD\PHVVDJH
,IDPHVVDJHLVUHSHDWHGWKRXJK+&B*(71(;7LVFDOOHGHDFKWLPHWKHPHVVDJHLVUHSHDWHG
ZLWKRXWDQLQWHUODFHGFDOOWR+&B6.,3DVVKRZQKHUH +&B*(71(;73OD\PHVVDJH
+&B6.,33UHSDUHWRSOD\PHVVDJH
+&B*(71(;73OD\PHVVDJH)LUVWWLPHPHVVDJHLVSOD\HG +&B*(71(;73OD\PHVVDJH)LUVWUHSHDWRIPHVVDJH
+&B*(71(;73OD\PHVVDJH6HFRQGUHSHDWRIPHVVDJH +&B6.,33UHSDUHWRSOD\PHVVDJH +&B*(71(;73OD\PHVVDJH
7KH+&B6.,3FRQVWDQWLVGHILQHGDVIROORZV
&RQVW+&B6.,3 HC_NOREMOVE
,QGLFDWHVWKDWDWKUHDGKDVFDOOHGWKH3HHN0HVVDJHIXQFWLRQRQLWVPHVVDJHTXHXH
7KH3HHN0HVVDJHIXQFWLRQGLGQRWUHPRYHWKHPHVVDJHIURPWKHTXHXH7KH
+&B125(029(FRQVWDQWLVGHILQHGDVIROORZV
&RQVW+&B125(029( HC_SYSMODALON
,QIRUPVXVWKDWDV\VWHPPRGDOGLDORJER[KDVEHHQGLVSOD\HG$Q\WLPHDV\VWHP
PRGDOGLDORJER[LVGLVSOD\HGZHPXVWSDXVHWKHPHVVDJHUHFRUGLQJIXQFWLRQXQWLO
WKDWGLDORJER[KDVEHHQVKXWGRZQ7KH+&B6<602'$/21FRQVWDQWLVGHILQHGDV
IROORZV
&RQVW+&B6<602'$/21 HC_SYSMODALOFF
,QIRUPVXVWKDWWKHV\VWHPPRGDOGLDORJER[KDVEHHQVKXWGRZQ$WWKLVWLPHZH
FDQUHVXPHRXUUHFRUGLQJ2XUFRGHFDQLJQRUHERWKWKH+&B6<602'$/21DQG
+&B6<602'$/2))FRGHV7KHVHDSSO\WRWKH:LQHQYLURQPHQW7KH
+&B6<602'$/2))FRQVWDQWLVGHILQHGDVIROORZV
&RQVW+&B6<602'$/2))
$VZLWKWKH:+B-2851$/5(&25'KRRNZHVKRXOGVNLSRXUKRRNSURFHVVLQJDQG
LPPHGLDWHO\FDOO&DOO1H[W+RRN([LIWKHX&RGHDUJXPHQWLVOHVVWKDQ]HUR
/RFDWLRQRI7KLV+RRNLQWKH6\VWHP 7KLVKRRNLVORFDWHGDWWKHSRLQWLQWKHV\VWHPZKHUHPHVVDJHVDUHUHWULHYHGIURPWKH5,7 V
PHVVDJHTXHXH7KHGLDJUDPLQ)LJXUHLOOXVWUDWHVWKLV
)LJXUH3RLQWLQWKHPHVVDJLQJV\VWHPZKHUH:+B-2851$/3/$<%$&.KRRNUHVLGHV
$VZLWKWKH:+B-2851$/5(&25':+B.(<%2$5'B//DQG:+B0286(B//KRRNV\RX
FDQLQVWDOOWKLVKRRNRQO\DVDV\VWHPZLGHKRRN7RUHYLHZWKHVHKRRNVFDQUHVLGHHLWKHULQ
DQ(;(RU'//PRGXOH7KLVPHDQVWKDWZHFDQLPSOHPHQWWKHVHKRRNVVROHO\ZLWKLQ9LVXDO
%DVLF9% 7KLVLVEHFDXVHWKHVHKRRNV ILOWHUIXQFWLRQVDUHFDOOHGIURPZLWKLQWKHFRQWH[WRI
WKHWKUHDGWKDWKDVLQVWDOOHGWKHP
2UGLQDULO\ZKHQ\RXLQVWDOODKRRNDVDV\VWHPZLGHKRRN\RXPXVWSODFHLWLQD'//7KLV '//LVLQMHFWHGLQWRHYHU\SURFHVVVRWKDWWKHKRRNFDQRSHUDWHRQDOOPHVVDJHVLQWKH
V\VWHP+RZHYHULQWKHFDVHRIWKHVHIRXUKRRNVWKHKRRNFDQEHLQVWDOOHGIRUDVLQJOH
WKUHDGDQGVWLOOUHFHLYHHYHU\PHVVDJHWKDWWKHV\VWHPJHQHUDWHVEHFDXVHHYHU\PHVVDJHLV
EHLQJIXQQHOHGWKURXJKDVLQJOHPHVVDJHTXHXH$VDUHVXOWWKHKRRNGRHVQRWKDYHWR
UHVLGHLQD'//LWFDQUHVLGHLQDQ(;(DVZHOO)RUDGHWDLOHGGLVFXVVLRQRIWKLVVHH
&KDSWHU
7KH0DFUR5HFRUGHU3OD\EDFN([DPSOH 7KLVH[DPSOHDSSOLFDWLRQORRNVDQGRSHUDWHVWKHVDPHDVWKHH[DPSOHLQWKHSUHYLRXV
FKDSWHU7KHRQO\GLIIHUHQFHLVWKDWZHKDYHDGGHGWZRQHZEXWWRQVKRRNDQGXQKRRNWRWKH
3/$<%$&.IUDPH7KHFRGHLQWKLVFKDSWHUZLOOFRQFHQWUDWHRQWKHVHQHZEXWWRQV)LJXUH
SUHVHQWVDVFUHHQVKRWRIWKLVH[DPSOHDSSOLFDWLRQ
)LJXUH6FUHHQVKRWRIWKH0DFUR5HFRUGHU3OD\EDFNH[DPSOHDSSOLFDWLRQ
7DEOHSUHVHQWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV 7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW7\SH
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
1DPH
)RUP
)RUP
&DSWLRQ
5HFRUGHU$SSOLFDWLRQ
)RUP
7RS
)RUP
/HIW
)RUP
+HLJKW
)RUP
:LGWK
)UDPH
&DSWLRQ
5(&25'
)UDPH
1DPH
)UDPH
)UDPH
7RS
)UDPH
/HIW
)UDPH
+HLJKW
)UDPH
:LGWK
)UDPH
&DSWLRQ
3/$<%$&.
)UDPH
1DPH
)UDPH
)UDPH
7RS
)UDPH
/HIW
)UDPH
+HLJKW
)UDPH
:LGWK
)UDPH
&DSWLRQ
7(67$5($
)UDPH
1DPH
)UDPH
)UDPH
7RS
)UDPH
/HIW
)UDPH
+HLJKW
)UDPH
:LGWK
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG+RRN
&RPPDQG%XWWRQ
&DSWLRQ
KRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG8Q+RRN
&RPPDQG%XWWRQ
&DSWLRQ
XQKRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
&DSWLRQ
06*%2;
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG3OD\EDFN+RRN
&RPPDQG%XWWRQ
&DSWLRQ
KRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG3OD\EDFN8Q+RRN
&RPPDQG%XWWRQ
&DSWLRQ
XQKRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&KHFN%R[
&DSWLRQ
7HVW&KHFN%R[&RQWURO
&KHFN%R[
7RS
&KHFN%R[
/HIW
&KHFN%R[
+HLJKW
&KHFN%R[
:LGWK
7KHKRRNEXWWRQWKDWZHDGGWRWKH3/$<%$&.IUDPHLQVWDOOVWKH:+B-2851$/3/$<%$&.
KRRN$IWHUWKLVKRRNLVLQVWDOOHGLWWDNHVRYHUDQGSOD\VEDFNWKHUHFRUGHGPDFUR:KLOHWKH
PDFURLVSOD\LQJEDFNPRXVHDQGNH\ERDUGLQSXWLVSODFHGLQWKH5,7 VPHVVDJHTXHXHEXW
QRWSURFHVVHG
:KHQWKHPDFURLVILQLVKHGSOD\LQJWKHKRRNLVUHPRYHGDQGV\VWHPFRQWUROLVUHWXUQHGWRWKH
XVHU7KHXVHUGRHVQRWKDYHWRFOLFNWKHXQKRRNEXWWRQEHIRUHWDNLQJDQDFWLRQVXFKDV
UHFRUGLQJDQRWKHUPDFURRUH[LWLQJWKHDSSOLFDWLRQ
,IWKHXVHUSUHVVHVWKH&75/(6&NH\FRPELQDWLRQRUDQ\RWKHUNH\FRPELQDWLRQWKDWVWRSV
WKHKRRNWKHXVHUPXVWFOLFNWKHXQKRRNEXWWRQLQWKH3/$<%$&.IUDPHWRUHPRYHWKHKRRN
7KLVLVEHFDXVHWKH,V3%+RRNHGIODJLVVWLOOVHWIRUWKHKRRN&OLFNLQJWKHXQKRRNEXWWRQZLOO VHWWKLVIODJWR)$/6(VRWKDWWKHDSSOLFDWLRQFDQEHH[LWHG
7RIL[WKLVSUREOHPZHFRXOGDGGD:+B*(70(66$*(KRRNWRRXUFRGHWKDWZRXOGZDWFKIRU
WKH:0B&$1&(/-2851$/PHVVDJHDQGVHWWKH,V3%+RRNHGIODJWR)$/6(DXWRPDWLFDOO\
7RUHFRUGDQGSOD\EDFNDFRPSOHWHPDFURIROORZWKHVHVWHSV &OLFNWKHKRRNEXWWRQLQWKH5(&25'IUDPH
5HFRUGWKHPDFUR
&OLFNWKHXQKRRNEXWWRQLQWKH5(&25'IUDPH
&OLFNWKHKRRNEXWWRQLQWKH3/$<%$&.IUDPH
:DWFKDV\RXUPDFURLVSOD\HGEDFN
7KLVFKDSWHUZLOOSUHVHQWRQO\WKHQHZFRGHWKDWKDVEHHQDGGHGWRWKLVSURMHFWUDWKHUWKDQ
UHSHDWWKHFRGHSUHVHQWHGLQ&KDSWHU2QFHDJDLQ,ZLOOVWDUWZLWKWKHQHZYDULDEOHVWKDW ZHPXVWGHFODUHZKLFKDUHVKRZQLQEROGIDFH
3ULYDWHK5HFRUG+RRN$V/RQJ
3ULYDWHK3OD\EDFN+RRN$V/RQJ 3ULYDWH0VJ$UUD\ $V/RQJ
3ULYDWH6WDUW7LPH$V/RQJ
3ULYDWH&XUU06*$V/RQJ
3XEOLF,V+RRNHG$V%RROHDQ
3XEOLF,V3%+RRNHG$V%RROHDQ
7KHK3OD\EDFN+RRNYDULDEOHFRQWDLQVWKHKDQGOHWRWKH:+B-2851$/3/$<%$&.KRRN
7KLVYDULDEOHRSHUDWHVOLNHWKHK5HFRUG+RRNYDULDEOHGRHV
7KH&XUU06*YDULDEOHLQGLFDWHVZKLFKPHVVDJHLQWKH0VJ$UUD\DUUD\LVWKHRQHFXUUHQWO\ EHLQJVHQWWRWKH:+B-2851$/3/$<%$&.ILOWHUIXQFWLRQ7KHILOWHUIXQFWLRQXVHVWKLV
YDULDEOHWRJHWWKHLQIRUPDWLRQIURPWKH0VJ$UUD\DUUD\LQWRWKH(9(1706*VWUXFWXUH
7KH,V3%+RRNHG%RROHDQYDULDEOHLVDIODJLQGLFDWLQJZKHWKHUWKH:+B-2851$/3/$<%$&.
KRRNKDVEHHQLQVWDOOHG7KLVYDULDEOHZRUNVVLPLODUWRWKH,V+RRNHG%RROHDQIODJ
([DPSOHVKRZVWKH:+B-2851$/3/$<%$&.KRRNILOWHUIXQFWLRQ
([DPSOH7KH-RXUQDO3OD\EDFN3URF)LOWHU)XQFWLRQ 3XEOLF)XQFWLRQ-RXUQDO3OD\EDFN3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
O3DUDP$V(9(1706* $V/RQJ
,IX&RGH +&B*(71(;77KHQ
1RPRUHPHVVDJHVWRSOD\UHPRYHWKHKRRNDQGUHVWRUHFRQWURO
WRWKHXVHUJUDFHIXOO\
&DOO5HPRYH3OD\EDFN+RRN (OVH
O3DUDPPHVVDJH 0VJ$UUD\&XUU06* O3DUDPKZQG 0VJ$UUD\&XUU06*
O3DUDPSDUDP+ 0VJ$UUD\&XUU06* O3DUDPSDUDP/ 0VJ$UUD\&XUU06*
O3DUDPWLPH 0VJ$UUD\&XUU06* 0VJ$UUD\&XUU06*
-RXUQDO3OD\EDFN3URF O3DUDPWLPH
(QG,I
(OVH,IX&RGH +&B6.,37KHQ
,I&XUU06*! 8%RXQG0VJ$UUD\ 7KHQ
1RPRUHPHVVDJHVWRSOD\UHPRYHWKHKRRNDQGUHVWRUHFRQWURO
WRWKHXVHUJUDFHIXOO\
&DOO5HPRYH3OD\EDFN+RRN (QG,I
&XUU06* &XUU06*
(OVH,IX&RGH +&B125(029(7KHQ
6NLS3OD\EDFNDQDSSKDVFDOOHG3HHN0HVVDJH (OVH,IX&RGH +&B6<602'$/217KHQ 6NLSSOD\EDFN
(OVH,IX&RGH +&B6<602'$/2))7KHQ 6NLSSOD\EDFN (QG,I
-RXUQDO3OD\EDFN3URF &DOO1H[W+RRN([K3OD\EDFN+RRNX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
7KHILOWHUIXQFWLRQIRFXVHVRQWZRFRGHV+&B*(71(;7DQG+&B6.,37KHRWKHUFRGHVDUH
RIQRFRQFHUQWRXV7KH+&B*(71(;7FRGHDOORZVXVWRSDVVDPHVVDJHRQWRWKLVILOWHU
IXQFWLRQ VO3DUDPDUJXPHQW)LUVWWKRXJKZHPXVWGHWHUPLQHLIDQ\PRUHPHVVDJHVPXVWEH
SURFHVVHG:HGRWKLVE\FKHFNLQJLIWKHYDOXHRIWKH&XUU0VJYDULDEOHLVJUHDWHUWKDQRU
HTXDOWRWKHXSSHUERXQGVRIWKH0VJ$UUD\DUUD\,ILWLVWKHKRRNZLOOEHUHPRYHGRWKHUZLVH
SURFHVVLQJFRQWLQXHV
7KHQH[WVHFWLRQRIFRGHZLWKLQWKH+&B*(71(;7FRGHEORFNSDVVHVDPHVVDJHLQWRWKH
(9(1706*VWUXFWXUH1RWLFHWKDWDOOHOHPHQWVRIWKH0VJ$UUD\DUUD\DUHSDVVHGLQ
XQFKDQJHGH[FHSWIRUWKHWLPHHOHPHQW
:HXVHWKHWLPHHOHPHQWWRV\QFKURQL]HPHVVDJHSOD\EDFN,IZHSDVVHGEDFN]HURLQVWHDG
RIWKHO3DUDPWLPHPHPEHUIURPWKH-RXUQDO3OD\EDFN3URFILOWHUIXQFWLRQWKHUHZRXOGEHQR
GHOD\VEHWZHHQPHVVDJHV7KHPHVVDJHVZRXOGEHSOD\HGEDFNDWDQH[WUHPHO\IDVWSDFH
7KHUHPLJKWEHVRPHLQVWDQFHVLQZKLFKWKHDFFHOHUDWHGSOD\EDFNRIPHVVDJHVLVGHVLUDEOH
7RPDNHWKLVKDSSHQVLPSO\PRGLI\WKHOLQHLQWKH)LOWHUIXQFWLRQIURP
-RXUQDO3OD\EDFN3URF O3DUDPWLPH WR
-RXUQDO3OD\EDFN3URF
,ILQVWHDG\RXZDQWWKHSOD\EDFNRIPHVVDJHVWRRFFXUDWWKHVDPHUDWHDVWKHXVHUUHFRUGHG
WKHP\RXQHHGWRILQGWKHGLIIHUHQFHLQWLPHEHWZHHQWKHFXUUHQWPHVVDJHDQGWKHSUHYLRXV
PHVVDJH
O3DUDPWLPH 0VJ$UUD\&XUU06* 0VJ$UUD\&XUU06*
7KHQXPEHULQWKH0VJ$UUD\DUUD\UHSUHVHQWVWKHILIWKPHPEHULQWKH(9(1706*VWUXFWXUH
RUWKHWLPHPHPEHU7KHUHVXOWRIWKLVWLPHGLIIHUHQFHLVSODFHGLQWKHO3DUDPWLPHPHPEHURI
WKH(9(1706*VWUXFWXUHDQGWKHILOWHUIXQFWLRQUHWXUQVLW
,QLWLDOO\WKH:+B-2851$/5(&25'KRRNILOWHUIXQFWLRQGHWHUPLQHVWKHYDOXHSODFHGLQ
0VJ$UUD\Q HTXLYDOHQWWRWKHWLPHPHPEHURIWKH(9(1706*VWUXFWXUH /RRNLQJEDFNDW
&KDSWHUZHFDQVHHWKDWZHVHWWKH6WDUW7LPHYDULDEOHWRWKHFXUUHQWWLPHXVLQJWKH
*HW7LFN&RXQWDSSOLFDWLRQSURJUDPPLQJLQWHUIDFH$3, IXQFWLRQDWWKHSRLQWZKHQWKH
:+B-2851$/5(&25'KRRNLVLQVWDOOHG 6WDUW7LPH *HW7LFN&RXQW
7KLVYDULDEOHJLYHVXVRXUEDVHOLQH7KHYDOXHLQ6WDUW7LPHLVVXEWUDFWHGIURPWKHFXUUHQWWLPH
HDFKPHVVDJHLVSOD\HGXVLQJWKLVOLQHRIFRGH
0VJ$UUD\8%RXQG0VJ$UUD\ O3DUDPWLPH6WDUW7LPH
1RZWKHWLPHPHPEHURIHDFKPHVVDJHLQ0VJ$UUD\FRQWDLQVWKHGLIIHUHQFHLQWLPHEHWZHHQ
ZKHQWKH:+B-2851$/5(&25'KRRNZDVILUVWLQVWDOOHGDQGWKHPHVVDJHZDVSOD\HG
:KHQZHSOD\EDFNWKHPHVVDJHXVLQJWKH:+B-2851$/3/$<%$&.KRRNZHXVHWKLVOLQH
RIFRGHWRJHWWKHDPRXQWRIWLPHIRUWKH:+B-2851$/3/$<%$&.KRRNWRZDLWEHIRUH
VHQGLQJWKHQH[WPHVVDJH
O3DUDPWLPH 0VJ$UUD\&XUU06* 0VJ$UUD\&XUU06*
7KLVOLQHWDNHVWKHWLPHLWWRRNIRUWKHSUHYLRXVPHVVDJHWREHUHFRUGHGDQGVXEWUDFWVWKDW
YDOXHIURPWKHWLPHLWWRRNIRUWKHFXUUHQWPHVVDJHWREHUHFRUGHG7KHUHVXOWLVWKHDPRXQWRI
WLPHEHWZHHQPHVVDJHV
)LJXUHVKRZVWKHWLPHFDOFXODWLRQLQJUDSKLFDOIRUP7KHOLQHLGHQWLILHGE\WKHOHWWHU$
LVWKHWLPHDWZKLFKPHVVDJHLVUHFRUGHG7KHOLQHLGHQWLILHGE\WKHOHWWHU%LVWKHWLPHDW ZKLFKPHVVDJHLVUHFRUGHG7KHUHIRUHWKHGRWWHGOLQHV$DQG%ERWKUHSUHVHQWWKHWLPH
WKDWKDVODSVHGEHWZHHQLQVWDOOLQJWKH:+B-2851$/5(&25'KRRNDQGWKHDFWXDOPHVVDJH
EHLQJVHQW7RILQGWKHYDOXHRI/LQHV$DQG%LQ&38FORFNF\FOHVXVHWKHIROORZLQJ
HTXDWLRQLQWKH:+B-2851$/5(&25'KRRNILOWHUIXQFWLRQ
O3DUDPWLPH6WDUW7LPH
/LQH&LVWKHGLIIHUHQFHEHWZHHQWKHWLPHVDWZKLFKPHVVDJHVDQGZHUHUHFRUGHG7KLV
YDOXHLVWKHWLPHWKDWWKH:+B-2851$/3/$<%$&.IXQFWLRQPXVWZDLWEHWZHHQSOD\LQJ
PHVVDJHDQGPHVVDJH
:+B-2851$/3/$<%$&.KRRNILOWHUIXQFWLRQ
0VJ$UUD\&XUU06* 0VJ$UUD\&XUU06* )LJXUH+RZWRJHWWKHDPRXQWRIWLPHWRZDLWEHWZHHQVHQGLQJPHVVDJHV
$IWHUWKH(9(1706*VWUXFWXUHLVILOOHGLQWKHILOWHUIXQFWLRQUHWXUQVWKHVDPHYDOXHWKDWZDV
SODFHGLQWKHWLPHPHPEHURIWKH(9(1706*VWUXFWXUH7KLVFDXVHVWKHV\VWHPWRZDLWWKH
QXPEHURIFORFNF\FOHVWKDWWKLVIXQFWLRQUHWXUQVEHIRUHVHQGLQJWKHQH[WPHVVDJH
,IDQ+&B6.,3FRGHLVSDVVHGLQWRWKHILOWHUIXQFWLRQZHILUVWGHWHUPLQHLIWKHUHDUHDQ\PRUH
PHVVDJHVWRSOD\LQWKH0VJ$UUD\DUUD\,IWKHUHDUHZHVLPSO\LQFUHPHQWWKH&XUU06*
YDULDEOHE\1RZRXUILOWHUIXQFWLRQLVUHDG\WRSOD\WKHQH[WPHVVDJHLQWKHDUUD\
)LQDOO\&DOO1H[W+RRN([LVFDOOHGWRDOORZDQ\RWKHULQVWDOOHG:+B-2851$/3/$<%$&.
KRRNVLQWKHKRRNFKDLQWRH[HFXWH
:+B-2851$/3/$<%$&.KRRN7KHUHLVQRWKLQJQHZKHUHH[FHSWWKDWWKH&XUU06*
YDULDEOHLVLQLWLDOL]HGLQWKHIXQFWLRQ
([DPSOH,QVWDOOLQJWKH:+B-2851$/3/$<%$&.+RRN 3XEOLF6XE6HW3OD\EDFN+RRN
,I,V3%+RRNHG2U,V+RRNHG7KHQ
0VJ%R['RQ WKRRNLWWZLFHZLWKRXWXQKRRNLQJRU B
\RXZLOOEHXQDEOHWRUHPRYHWKHKRRN
(OVH
6WDUW7LPH *HW7LFN&RXQW
&XUU06*
K3OD\EDFN+RRN 6HW:LQGRZV+RRN([:+B-2851$/3/$<%$&.B
$GGUHVV2I
$SSK,QVWDQFH
-RXUQDO3OD\EDFN3URFB
,V3%+RRNHG 7UXH (QG,I
(QG6XE
LQVWDOOHG:+B-2851$/3/$<%$&.KRRN
([DPSOH5HPRYLQJWKH:+B-2851$/3/$<%$&.+RRN 3XEOLF6XE5HPRYH3OD\EDFN+RRN 'LPO5HW9DO$V/RQJ
O5HW9DO 8QKRRN:LQGRZV+RRN([K3OD\EDFN+RRN
,V3%+RRNHG )DOVH (QG6XE
)LQDOO\WKHFRGHVKRZQLQ([DPSOHLVDGGHGWRWKHIRUPPRGXOHWRHQDEOHWKHXVHUWR SOD\EDFNWKHSUHYLRXVUHFRUGHGPHVVDJH
([DPSOH6RXUFH&RGHIRUWKH)RUPIUP0RGXOH
3/$<%$&.
3ULYDWH6XEFPG3OD\EDFN+RRNB&OLFN
&DOO6HW3OD\EDFN+RRN
(QG6XE
3ULYDWH6XEFPG3OD\EDFN8Q+RRNB&OLFN
&DOO5HPRYH3OD\EDFN+RRN
(QG6XE
&/($183
3ULYDWH6XE)RUPB4XHU\8QORDG&DQFHO$V,QWHJHU8QORDG0RGH$V,QWHJHU ,I,V+RRNHG7KHQ
&DQFHO
0VJ%R[8QKRRNWKH:0B-2851$/5(&25'KRRNEHIRUHFORVLQJ B
RUWKHDSSOLFDWLRQPD\FUDVK
(QG,I
,I,V3%+RRNHG7KHQ
&DQFHO
0VJ%R[8QKRRNWKH:0B-2851$/3/$<%$&.KRRNEHIRUHFORVLQJRU B
WKHDSSOLFDWLRQPD\FUDVK
(QG,I
(QG6XE
:HKDYHDGGHGWKH&OLFNHYHQWKDQGOHUVIRUWKHKRRNDQGXQKRRNEXWWRQVLQWKH3/$<%$&.
IUDPH$OVRZHKDYHDGGHGFRGHWRWKH)RUPB4XHU\8QORDGHYHQWKDQGOHUWRFKHFNWRVHH
ZKHWKHUWKH:+B-2851$/3/$<%$&.KRRNZDVUHPRYHGEHIRUHWKHDSSOLFDWLRQXQORDGHG
(QGLQJWKHDSSOLFDWLRQEHIRUHXQKRRNLQJDQ\KRRNVFDQFDXVHDFUDVK
&DYHDWV
PLJKWQRWSOD\EDFNFRUUHFWO\LQDGLIIHUHQWUHVROXWLRQ$VDWHVWUHFRUGDPDFURXVLQJWKH
DSSOLFDWLRQ\RXEXLOWLQWKLVFKDSWHUDWDUHVROXWLRQRI[7KHQVZLWFKWRDKLJKHU
UHVROXWLRQVXFKDV[
GXULQJSOD\EDFNDWWKHKLJKHUUHVROXWLRQDUHVFDOHGGRZQDVLIWKHV\VWHPVWLOOWKLQNVWKH
UHVROXWLRQLV[
SOD\HGEDFNPDFURVWLOODVVXPHVWKDWWKHZLQGRZLVLQLWVRULJLQDOSRVLWLRQDQGSOD\VEDFNWKH
PDFURDFFRUGLQJO\6LPLODUSUREOHPVDULVHZLWKZLQGRZVWKDWEHFRPHFRYHUHGE\DQRWKHU
ZLQGRZZLQGRZVWKDWEHFRPHKLGGHQRUZLQGRZVWKDWEHFRPHGHVWUR\HG
0DFURVUHFRUGHGLQRQHRSHUDWLQJV\VWHP:LQGRZV[17RU FDQKDYHSUREOHPV
ZKHQSOD\HGEDFNLQDGLIIHUHQWRSHUDWLQJV\VWHP6RPHFDXVHVIRUWKHVHSUREOHPVPLJKWEH • • • •
7KHPHVVDJHVWKDWDUHUHFRUGHGLQRQHRSHUDWLQJV\VWHPPLJKWQRWH[LVWRQWKH
RSHUDWLQJV\VWHPLQZKLFKWKDWWKHPDFURLVEHLQJSOD\HGEDFN
'LIIHUHQWUHVROXWLRQV
'LIIHUHQWGHVNWRSOD\RXWV
'LIIHUHQWPRXVHVHWXSVHJLIDVQDSWRRUZUDSSLQJRSWLRQLVVHWIRUWKHPRXVHLQ RQHRSHUDWLQJV\VWHPDQGQRWLQWKHRWKHU
3UREOHPVDOVRFRXOGDULVHDIWHUWKHPDFURKDVILQLVKHGSOD\LQJ5HPHPEHUWKDWPHVVDJHVDUH
VWLOOEHLQJSODFHGLQWRWKHPHVVDJHTXHXHH[FHSWIRU:0B0286(029(PHVVDJHV HYHQ
WKRXJKWKH:+B-2851$/3/$<%$&.KRRNLVLQVWDOOHG:KHQWKHKRRNLVUHPRYHGWKH
TXHXHGPHVVDJHVZLOOEHVHQWWRWKHLUFRUUHVSRQGLQJZLQGRZSURFHGXUHWREHDFWHGXSRQ
EDFNDGLIIHUHQWPDFURDOWKRXJKGRLQJVRPLJKWFDXVHXQSUHGLFWDEOHUHVXOWVEHFDXVHHLWKHU
PDFURFDQGRVRPHWKLQJWRDIIHFWWKHRWKHUPDFUR
PDFURZLWKWKHPDFURUHFRUGHUDSSOLFDWLRQ\RXEXLOWLQWKLVFKDSWHUDQGWKHQUHFRUGLQJD
VHFRQGPDFURWKDWLQVWDOOVWKH:+B-2851$/3/$<%$&.KRRN
FOLFNLQJWKHKRRNEXWWRQLQWKH3/$<%$&.IUDPHRQWKHXVHULQWHUIDFHZKLOHUHFRUGLQJD
PDFUR
HQGLQJWKHPDFUR
)LQDOO\SUHVVLQJWKH:LQGRZVNH\SUHVHQWRQPDQ\NH\ERDUGVKDVWKHVDPHHIIHFWDV
SUHVVLQJWKH&75/(6&NH\FRPELQDWLRQWKH:LQGRZV6WDUWPHQXLVGLVSOD\HGDQGDQ\
LQVWDOOHGMRXUQDOKRRNVDUHUHPRYHG3UHVVLQJWKH:LQGRZVNH\RQWKHNH\ERDUGVHQGVWKH
&75/(6&NH\FRPELQDWLRQWRWKHV\VWHPDWVRPHSRLQW,IWKLVNH\FRPELQDWLRQLVXVHGRULI
WKH:LQGRZVNH\LVSUHVVHGWKHLQVWDOOHGMRXUQDOKRRNZLOOEHUHPRYHG
&KDSWHU:+B'(%8* 7KLVFKDSWHUGHDOVZLWKWKH:+B'(%8*KRRN$ORQJZLWKGHVFULELQJKRZWKLV KRRNRSHUDWHV,DOVRZLOOGLVFXVVKRZWRXVHLWWRDLGLQGHEXJJLQJRWKHU KRRNV\RXKDYHLQVWDOOHGLQ\RXUDSSOLFDWLRQ
'HVFULSWLRQ 7KHPDLQSXUSRVHRIWKH:+B'(%8*KRRNDVLWVQDPHLPSOLHVLVIRU
GHEXJJLQJRWKHUKRRNV:KHQ\RXLQVWDOOWKLVKRRNLWLQWHUFHSWVWKHFDOOWRDQ
LQVWDOOHGKRRN VILOWHUIXQFWLRQEHIRUHWKHFDOOLVDFWXDOO\PDGH)RUWKHVDNHRI
VLPSOLFLW\,ZLOOUHIHUWRWKHKRRNWKDWLVEHLQJGHEXJJHGDVWKHWDUJHWKRRN
)LJXUHLOOXVWUDWHVWKHUHODWLRQVKLSRIWKH:+B'(%8*KRRNWRWKHRSHUDWLQJ
V\VWHPDQGWKHWDUJHWKRRN
)LJXUH7KH:+B'(%8*KRRNLVFDOOHGEHIRUHWKHWDUJHWKRRN
DSSOLFDWLRQRU\RXFDQLQVWDOOLWDVDV\VWHPZLGHKRRNLQD:LQG\QDPLF
OLQNOLEUDU\'// :KHQ\RXLQVWDOOLWDVDWKUHDGVSHFLILFKRRNWKHV\VWHPZLOO
FDOOLWEHIRUHFDOOLQJDQ\LQVWDOOHGKRRNILOWHUIXQFWLRQVZLWKLQWKDWVSHFLILF
WKUHDG$VDQRWHWKH:+B'(%8*KRRNZLOOQRWLQWHUFHSWPHVVDJHVVHQWWRWKH
:+B0286(B//DQG:+B.(<%2$5'B//KRRNILOWHUIXQFWLRQVVLQFHWKHVHORZ
OHYHOKRRNILOWHUIXQFWLRQVDUHFDOOHGHDUOLHULQWKHPHVVDJLQJV\VWHP:KHQ
\RXLQVWDOOWKH:+B'(%8*KRRNDVDV\VWHPZLGHKRRNWKHV\VWHPZLOOFDOOLW
EHIRUHFDOOLQJDQ\LQVWDOOHGKRRNILOWHUIXQFWLRQVZLWKLQWKHV\VWHPRQFHDJDLQ
H[FOXGLQJDOO:+B0286(B//DQG:+B.(<%2$5'B//KRRNV
$V\RXFDQVHHDQ\LQVWDOOHGILOWHUIXQFWLRQVIRUWKH:+B'(%8*KRRNDUH
DOZD\VFDOOHGEHIRUHFDOOLQJDQ\RWKHUKRRN VILOWHUIXQFWLRQ,IVHYHUDOKRRNV
DUHLQVWDOOHGDWRQHWLPHDORQJZLWKWKH:+B'(%8*KRRNWKH:+B'(%8*KRRN
ZLOOEHIORRGHGE\FDOOVWRYDULRXVKRRNILOWHUIXQFWLRQV'HWHUPLQLQJZKLFK
KRRN VILOWHUIXQFWLRQLVEHLQJFDOOHGFDQEHFRPHTXLWHFRQIXVLQJEXWE\XVLQJ
WKHZ3DUDPSDUDPHWHURIWKH:+B'(%8*KRRNZHFDQGHWHUPLQHWKHW\SHRI KRRNWKDWLVEHLQJFDOOHG
:KHQ\RXZDQWWRGHEXJDWKUHDGVSHFLILFKRRNZLWKWKH:+B'(%8*KRRN\RX
PXVWLQVWDOOWKH:+B'(%8*KRRNLQWKHVDPHWKUHDGDVWKHWKUHDGVSHFLILF
WDUJHWKRRN2WKHUZLVH\RXZLOOQHYHUEHDEOHWRLQWHUFHSWWKHV\VWHP VFDOOV WRWKHWDUJHWKRRN
LQWURGXFHPRUHQRLVHWKDQLVKHOSIXO
DWKUHDGVSHFLILFVFRSHLIDWDOOSRVVLEOH$IWHUDOOGHEXJJLQJFRQVLVWVRI
IRFXVLQJLQRQWKHSUREOHPLQPRVWLQVWDQFHVLWZLOOEHKDUGHUWRIRFXVLQRQD
KRRNSUREOHPZLWKDV\VWHPZLGH:+B'(%8*KRRN
$QRWKHULPSRUWDQWSRLQWDERXWWKLVKRRNLVWKDWLWZLOOFDSWXUHLQIRUPDWLRQDERXW
HDFKKRRNLQVWDOOHGLQDKRRNFKDLQ)RUH[DPSOHLIWKUHHNH\ERDUGKRRNVDUH
LQVWDOOHGWKH:+B'(%8*KRRNZLOOEHFDOOHGRQFHIRUHDFKNH\ERDUGKRRN
$OVRUHPHPEHUWKDWWKHODVWKRRNLQVWDOOHGLVWKHILUVWKRRNWKDWLVFDOOHGLQWKH
KRRNFKDLQ
)LOWHU)XQFWLRQ'HILQLWLRQ 7KHILOWHUIXQFWLRQIRUWKH:+B'(%8*KRRNLVGHILQHGDVIROORZV 3XEOLF)XQFWLRQ'HEXJ3URF%\9DOX&RGH$V/RQJB
%\9DOZ3DUDP$V/RQJB
O3DUDP$V'(%8*+22.,1)2 $V/RQJ
7KHILOWHUIXQFWLRQ VSDUDPHWHUVDUH X&RGH
7KHFRGHWKHV\VWHPVHQGVWRWKLVILOWHUIXQFWLRQ3RVVLEOHX&RGHYDOXHV
DUHGLVFXVVHGLQ6HFWLRQODWHULQWKLVFKDSWHU
Z3DUDP
7KLVYDOXHVSHFLILHVWKHKRRN,'WKDWLVWKHW\SHRIKRRN WKDWLVEHLQJ
FDOOHG+RRN,'VFDQEHDQ\RIWKHIROORZLQJ :+B06*),/7(5
:+B-2851$/5(&25'
:+B-2851$/3/$<%$&.
:+B.(<%2$5'
:+B*(70(66$*(
:+B&$//:1'352& :+B&%7
:+B6<606*),/7(5 :+B0286(
:+B+$5':$5(
:+B6+(//
:+B)25(*5281','/( O3DUDP
:+B&$//:1'352&5(7
$SRLQWHUWRD'(%8*+22.,1)2VWUXFWXUH7KLVVWUXFWXUHJLYHVWKH
:+B'(%8*KRRNDFFHVVWRWKHLQIRUPDWLRQWKDWLVWREHSDVVHGWRWKH
WDUJHWKRRNDQGDLGVLQLGHQWLI\LQJWKHWDUJHWKRRN
7KH'(%8*+22.,1)2VWUXFWXUHLVGHILQHGDVIROORZV 3XEOLF7\SH'(%8*+22.,1)2
LG7KUHDG$V/RQJ
LG7KUHDG,QVWDOOHU$V/RQJ
O3DUDP$V/RQJ
Z3DUDP$V/RQJ
FRGH$V/RQJ (QG7\SH
,WVPHPEHUVDUH
LG7KUHDG
+DQGOHWRWKHWKUHDGFRQWDLQLQJWKHILOWHUIXQFWLRQRIWKHKRRNWKDWLV DERXWWREHFDOOHG
LG7KUHDG,QVWDOOHU O3DUDP
+DQGOHWRWKHWKUHDGWKDWLQVWDOOHGWKH:+B'(%8*KRRNILOWHUIXQFWLRQ
9DOXHRIWKHO3DUDPWKDWLVWREHVHQWWRWKHILOWHUIXQFWLRQRIWKHKRRN WKDWLVDERXWWREHFDOOHG
Z3DUDP
9DOXHRIWKHZ3DUDPWKDWLVWREHVHQWWRWKHILOWHUIXQFWLRQRIWKHKRRN
FRGH
WKDWLVDERXWWREHFDOOHG
9DOXHRIWKHX&RGHWKDWLVWREHVHQWWRWKHILOWHUIXQFWLRQRIWKHKRRNWKDW
LVDERXWWREHFDOOHG
$V\RXFDQVHHWKHFRGHO3DUDPDQGZ3DUDPPHPEHUVFRQWDLQWKHVDPH LQIRUPDWLRQWKDWLVVHQWWRWKHWDUJHWKRRN VILOWHUIXQFWLRQ$OOKRRNILOWHU
IXQFWLRQVWDNHWKHVHWKUHHSDUDPHWHUV7KHLG7KUHDGPHPEHUFRQWDLQVWKH KDQGOHWRWKHWKUHDGZKHUHWKHKRRN VILOWHUIXQFWLRQLVLQVWDOOHG7KH
LG7KUHDG,QVWDOOHUPHPEHUFRQWDLQVWKHKDQGOHWRWKHWKUHDGWKDWLQVWDOOHGWKH
KRRN7KHVHWZRKDQGOHVFDQSURYLGHLQIRUPDWLRQRQWKHLQVWDOOHGKRRN V
VFRSH,IWKHVHWZRKDQGOHVFRQWDLQGLIIHUHQWYDOXHV\RXFDQEHFHUWDLQWKDW WKLVLVDV\VWHPZLGHKRRN+RZHYHULIWKHWZRKDQGOHVFRQWDLQWKHVDPH
YDOXHWKHWDUJHWKRRNFRXOGKDYHHLWKHUWKUHDGVSHFLILFRUV\VWHPZLGHVFRSH
LWLVLPSRVVLEOHWRGLIIHUHQWLDWHWKHVFRSHXVLQJRQO\WKHVHWZRWKUHDGKDQGOHV 7KLVLVEHFDXVHDV\VWHPZLGHKRRNLVLQVWDOOHGLQHYHU\SURFHVVLQWKH
V\VWHPHYHQWKHRQHWKDWFDXVHGWKHKRRNWREHLQVWDOOHGLQWKHILUVWSODFH 7KHUHWXUQYDOXHIRUWKLVILOWHUIXQFWLRQVKRXOGEHWKHUHWXUQYDOXHRIWKH
&DOO1H[W+RRN([IXQFWLRQ,IWKLVIXQFWLRQLVQRWFDOOHGUHWXUQD]HUR,GRQRW UHFRPPHQGVNLSSLQJWKHFDOOWR&DOO1H[W+RRN([WKRXJK)DLOLQJWRFDOOLW
SUHYHQWVRWKHUILOWHUIXQFWLRQVLQWKHFKDLQIURPEHLQJFDOOHG+RZHYHUIRUFLQJ
DQRQ]HURQXPEHUWREHUHWXUQHGZLOOFDXVHWKHGHVWLQDWLRQKRRN VILOWHU IXQFWLRQWRQRWEHFDOOHG
,WLVLPSRUWDQWWRQRWHWKDW:LQGRZV[GRHVQRWVXSSRUWWKH:+B'(%8*KRRN DQGWKH'(%8*+22.,1)2VWUXFWXUH$OWKRXJK\RXFDQLQVWDOODQGUXQLWLQ
:LQGRZV6HFRQG(GLWLRQ,XVHGEXLOG$ ,GRQRWUHFRPPHQG GRLQJVR,ZDVDEOHWRJHWLWWRUXQEXWWKHLQIRUPDWLRQLWSURGXFHGZDVQRW UHOLDEOH,QPRVWLQVWDQFHVWKH:+B'(%8*KRRNZDVEHLQJFDOOHGDWRGG WLPHVVRPHWLPHVHYHQDIWHUWKHWDUJHWKRRNILQLVKHGSURFHVVLQJ ([SODQDWLRQRI+RRN&RGHV 7KHILOWHUIXQFWLRQ VX&RGHSDUDPHWHUUHFHLYHVRQO\RQHKRRNFRGH+&B$&7,21
7KLVFRGHLVGHILQHGDVIROORZV 3ULYDWH&RQVW+&B$&7,21
:KHQWKLVFRGHLVVHQWWRWKHILOWHUIXQFWLRQWKHVHQWPHVVDJHFDQEH SURFHVVHG,I+&B$&7,21LVQRWSDVVHGLQ\RXVKRXOGVNLSPHVVDJH SURFHVVLQJDQGFDOO&DOO1H[W+RRN([LPPHGLDWHO\
$7KUHDG6SHFLILF([DPSOH 7KLVH[DPSOHXVHVWKH:+B6+(//H[DPSOHWKDWZDVSUHVHQWHGLQ&KDSWHU)LJXUH
VKRZVWKHDSSOLFDWLRQ VXVHULQWHUIDFH$V\RXFDQVHHDFKHFNER[ODEHOHG'LVFDUG
0VJKDVEHHQDGGHGWRWKHH[DPSOH:KHQFKHFNHGLWFDXVHVWKH:+B'(%8*KRRNWR
UHWXUQDQRQ]HURYDOXHHIIHFWLYHO\SUHYHQWLQJWKHWDUJHWKRRNIURPEHLQJFDOOHG2WKHUZLVHDOO
PHVVDJHVZLOOVDIHO\SDVVWKURXJKWKLVKRRNWRWKHWDUJHWKRRN
)LJXUH$VFUHHQVKRWRIWKH:+B6+(//:+B'(%8*H[DPSOH
7DEOHSUHVHQWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV 7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
1DPH
)RUP
)RUP
&DSWLRQ
:+B6+(//([DPSOH
)RUP
7RS
)RUP
/HIW
)RUP
+HLJKW
)RUP
:LGWK
)RUP
1DPH
)RUP
)RUP
&DSWLRQ
1(:)250
&RPPDQG%XWWRQ
1DPH
FPG+RRN
&RPPDQG%XWWRQ
&DSWLRQ
KRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG8QKRRN
&RPPDQG%XWWRQ
&DSWLRQ
XQKRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG&UHDWH:QG
&RPPDQG%XWWRQ
&DSWLRQ
&UHDWH:QG
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG7DVN%DU7LWOH
&RPPDQG%XWWRQ
&DSWLRQ
7DVN%DU7LWOH
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG0VJ%R[
&RPPDQG%XWWRQ
&DSWLRQ
0VJ%R[
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG'%*+RRN
&RPPDQG%XWWRQ
&DSWLRQ
KRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&RPPDQG%XWWRQ
1DPH
FPG'%*8Q+RRN
&RPPDQG%XWWRQ
&DSWLRQ
XQKRRN
&RPPDQG%XWWRQ
7RS
&RPPDQG%XWWRQ
/HIW
&RPPDQG%XWWRQ
+HLJKW
&RPPDQG%XWWRQ
:LGWK
&KHFN%R[
1DPH
FKN'LVFDUG0VJ
&KHFN%R[
&DSWLRQ
'LVFDUG0VJ
&KHFN%R[
7RS
&KHFN%R[
/HIW
&KHFN%R[
+HLJKW
&KHFN%R[
:LGWK
7H[W%R[
1DPH
7H[W
7H[W%R[
0XOWL/LQH
7UXH
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
7RXVHWKLVDSSOLFDWLRQFOLFNWKHKRRNEXWWRQIRUWKH:+B6+(//KRRNDQGWKHQFOLFNWKH
KRRNEXWWRQIRUWKH:+B'(%8*KRRN:KHQWKH:+B6+(//KRRNLVFDOOHGRXWSXWWRWKH
WH[WER[ZLOODOZD\VVKRZWKDWWKH:+B'(%8*KRRNLVFDOOHGLPPHGLDWHO\EHIRUHLW
,I\RXFKHFNWKH'LVFDUG0VJFKHFNER[\RXZLOOQRWLFHWKDWRQO\WKH:+B'(%8*KRRNLV
FDOOHG7KH:+B6+(//KRRNLVQRWFDOOHGEHFDXVHWKH:+B'(%8*KRRNIXQFWLRQUHWXUQV
,WLVLQWHUHVWLQJWRQRWHWKDWZKHQWKH:+B'(%8*KRRNLVLQVWDOOHGDQG\RXGRQRWH[SOLFLWO\
LQVWDOODQ\RWKHUKRRNV\RXPLJKWUHFHLYHQRWLILFDWLRQVWKDWFHUWDLQKRRNVDUHDERXWWRILUH)RU
H[DPSOHLI\RXDUHXVLQJDWKLUGSDUW\PRXVHRUNH\ERDUGWKDWFRQWDLQVH[WUDLQSXWGHYLFHV
\RXPLJKWQRWLFHWKDWWKH:+B0286(WKH:+B.(<%2$5'RUHYHQWKH
:+B*(70(66$*(KRRNVDUHEHLQJILUHGHYHQWKRXJK\RXGLGQRWLQVWDOOWKHP:KDWLV
KDSSHQLQJLVWKDWWKHVRIWZDUHWKDW\RXLQVWDOOHGZLWKWKHVHGHYLFHVLQVWDOOVRQHRUPRUH
V\VWHPZLGHKRRNV7KHVHKRRNVDUHXVXDOO\LQVWDOOHGDWERRWWLPH7KLVZD\WKH\FDQDGG
H[WUDFDSDELOLWLHVWRDOOSURFHVVHVUXQQLQJLQWKHV\VWHPE\LQVWDOOLQJH[WUDFRGHWKHKRRN V
ILOWHUIXQFWLRQLQWRHDFKUXQQLQJSURFHVV)RUH[DPSOHLQ)LJXUH\RXFDQVHHWKH
V\VWHPZLGHKRRNVEHLQJFDOOHGIURPZLWKLQWKHWKUHDGWKDWLQVWDOOHGWKH:+B'(%8*KRRN
)LJXUH,QVWDOOLQJRQO\WKH:+B'(%8*KRRNZLOOLQIRUP\RXRIDQ\V\VWHPZLGHKRRNV WKDWDQRWKHUDSSOLFDWLRQPLJKWKDYHLQVWDOOHGLQ\RXUV\VWHP
([DPSOHSUHVHQWVWKHFRGHEHKLQGWKHIRUP7KH)RUPB4XHU\8QORDGIXQFWLRQ
SHUIRUPVDILQDOFKHFNWRGHWHUPLQHLIDQ\KRRNVDUHVWLOOLQVWDOOHG,IDQ\DUHLQVWDOOHG
DSSOLFDWLRQVKXWGRZQLVFDQFHOHG,IWKHDSSOLFDWLRQZHUHVKXWGRZQEHIRUHUHPRYLQJDOO
KRRNVWKHDSSOLFDWLRQZRXOGVXIIHUD*HQHUDO3URWHFWLRQ)DXOW*3)
,QVWDOOLQJWKH:+B'(%8*KRRNLVVLPLODUWRLQVWDOOLQJDQ\RWKHUWKUHDGVSHFLILFKRRN7KH 6HW'HEXJ+RRNIXQFWLRQLQ([DPSOHLQVWDOOVWKH:+B'(%8*KRRN ([DPSOH,QVWDOOLQJWKH:+B'(%8*+RRN 3ULYDWH6XEFPG+RRNB&OLFN
7H[W7H[W
&DOO6HW6KHOO+RRN
(QG6XE
3ULYDWH6XEFPG8QKRRNB&OLFN
&DOO5HPRYH6KHOO+RRN
(QG6XE
3ULYDWH6XEFPG'%*+RRNB&OLFN
&DOO6HW'HEXJ+RRN
(QG6XE
3ULYDWH6XEFPG'%*8K+RRNB&OLFN
&DOO5HPRYH'HEXJ+RRN
(QG6XE
3ULYDWH6XEFPG&UHDWH:QGB&OLFN
)RUP6KRZ (QG6XE
3ULYDWH6XEFPG7DVN%DU7LWOHB&OLFN
,I0H&DSWLRQ 7LWOH2I:LQGRZ+DV&KDQJHG7KHQ
0H&DSWLRQ :+B6+(//([DPSOH
(OVH
0H&DSWLRQ 7LWOH2I:LQGRZ+DV&KDQJHG
(QG,I
(QG6XE
3ULYDWH6XEFPG0VJ%R[B&OLFN
0VJ%R[7KH:+B6+(//KRRNGRHVQRWDFNQRZOHGJHWKHFUHDWLRQRIWKLVPHVVDJHER[
(QG6XE
&/($183
3ULYDWH6XE)RUPB4XHU\8QORDG&DQFHO$V,QWHJHU8QORDG0RGH$V,QWHJHU
,I,V+RRNHG2U,V'%*+RRNHG7KHQ &DQFHO
0VJ%R[8QKRRNEHIRUHFORVLQJRUWKH,'(ZLOOFUDVK
(QG,I
(QG6XE ([DPSOH,QVWDOOLQJWKH:+B'(%8*+RRN 3XEOLF6XE6HW'HEXJ+RRN ,I,V'%*+RRNHG7KHQ
0VJ%R['RQ WKRRN'(%8*WZLFHRU\RXZLOOEHXQDEOHWRXQKRRNLW
(OVH
K+RRN'%* 6HW:LQGRZV+RRN([:+B'(%8*$GGUHVV2I'HEXJ3URFB
$SS7KUHDG,'
,V'%*+RRNHG 7UXH
(QG,I
(QG6XE
([DPSOHVKRZVKRZ\RXUHPRYHWKLVKRRN ([DPSOH5HPRYLQJWKH:+B'(%8*+RRN 3XEOLF6XE5HPRYH'HEXJ+RRN 'LPWHPS$V/RQJ
WHPS 8QKRRN:LQGRZV+RRN([K+RRN'%* ,V'%*+RRNHG )DOVH (QG6XE
7KH'HEXJ3URFIXQFWLRQDFWVDVWKHILOWHUIXQFWLRQIRUWKLVKRRNDV([DPSOH
LOOXVWUDWHV7KLVIXQFWLRQZULWHVDOLQHRIWH[WWRWKH7H[WWH[WER[ZKHQHYHUHDFKW\SHRIKRRN
LVFDOOHG7KLVFDQZRUNILQHIRUDVLPSOHH[DPSOHWKDWGHPRQVWUDWHVKRZWRXVHWKH
:+B'(%8*KRRNEXWLQDUHDOZRUOGDSSOLFDWLRQLWPLJKWFDXVHSUREOHPV ([DPSOH7KH:+B'(%8*)LOWHU)XQFWLRQ
3XEOLF)XQFWLRQ'HEXJ3URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
O3DUDP$V'(%8*+22.,1)2 $V/RQJ
,IX&RGH! 7KHQ
6HOHFW&DVHZ3DUDP
&DVH:+B&$//:1'352&5(7
)RUP7H[W7H[W )RUP7H[W7H[W :+B&$//:1'352&5(7&2'( B
O3DUDPFRGH :3$5$0 O3DUDPZ3DUDP B
/3$5$0 O3DUDPO3DUDP YE1HZ/LQH
&DVH:+B&%7
)RUP7H[W7H[W )RUP7H[W7H[W :+B&%7&2'( B
O3DUDPFRGH :3$5$0 O3DUDPZ3DUDP B
/3$5$0 O3DUDPO3DUDP YE1HZ/LQH
&DVH:+B)25(*5281','/(
)RUP7H[W7H[W )RUP7H[W7H[W :+B)25(*5281','/(&2'( B
O3DUDPFRGH :3$5$0 O3DUDPZ3DUDP B
/3$5$0 O3DUDPO3DUDP YE1HZ/LQH
&DVH:+B-2851$/3/$<%$&.
)RUP7H[W7H[W )RUP7H[W7H[W :+B-2851$/3/$<%$&.&2'( B
O3DUDPFRGH :3$5$0 O3DUDPZ3DUDP /3$5$0 B
O3DUDPO3DUDP YE1HZ/LQH
&DVH:+B-2851$/5(&25'
)RUP7H[W7H[W )RUP7H[W7H[W :+B-2851$/5(&25' YE1HZ/LQH
&DVH:+B6<606*),/7(5
)RUP7H[W7H[W )RUP7H[W7H[W :+B6<606*),/7(5&2'( B O3DUDPFRGH :3$5$0 O3DUDPZ3DUDP B /3$5$0 O3DUDPO3DUDP YE1HZ/LQH &DVH:+B06*),/7(5
)RUP7H[W7H[W )RUP7H[W7H[W :+B06*),/7(5&2'( B O3DUDPFRGH :3$5$0 O3DUDPZ3DUDP B /3$5$0 O3DUDPO3DUDP YE1HZ/LQH &DVH:+B*(70(66$*(
)RUP7H[W7H[W )RUP7H[W7H[W :+B*(70(66$*(&2'( B O3DUDPFRGH :3$5$0 O3DUDPZ3DUDP /3$5$0B O3DUDPO3DUDP 7,'B&RQWDLQV)) O3DUDPK0RGXOH+RRN B
7,'B,QVWDOO)) O3DUDP5HVHUYHG E1HZ/LQH &DVH:+B.(<%2$5'
)RUP7H[W7H[W )RUP7H[W7H[W :+B.(<%2$5'&2'( B O3DUDPFRGH :3$5$0 O3DUDPZ3DUDP B /3$5$0 O3DUDPO3DUDP YE1HZ/LQH &DVH:+B0286( 7KLVZLOOILUHPDQ\WLPHV
)RUP7H[W7H[W )RUP7H[W7H[W :+B0286(&2'( B O3DUDPFRGH :3$5$0 O3DUDPZ3DUDP B /3$5$0 O3DUDPO3DUDP YE1HZ/LQH &DVH:+B6+(//
)RUP7H[W7H[W )RUP7H[W7H[W :+B6+(//&2'( B O3DUDPFRGH :3$5$0 O3DUDPZ3DUDP B /3$5$0 O3DUDPO3DUDP YE1HZ/LQH &DVH:+B&$//:1'352&
7KLVRQH*3) VVLQFHHYHU\WLPHWKHWH[WLVDGGHGWRWKHWH[WER[
DQRWKHUPHVVDJHLVLQWHUFHSWHGFUHDWLQJDQLQILQLWHORRS
)RUP7H[W7H[W )RUP7H[W7H[W :+B&$//:1'352&&2'(B O3DUDPFRGH :3$5$0 O3DUDPZ3DUDP B
/3$5$0 O3DUDPO3DUDP YE1HZ/LQH
(QG6HOHFW
,I)RUPFKN'LVFDUG0VJ9DOXH 7KHQ
7RSUHYHQWWKHV\VWHPIURPFDOOLQJWKHKRRN
WKLVKRRNSURFHGXUHPXVWUHWXUQDQRQ]HURYDOXH
'HEXJ3URF ([LW)XQFWLRQ (OVH
'HEXJ3URF &DOO1H[W+RRN([K+RRN'%*X&RGHZ3DUDPO3DUDP
(QG,I (QG,I
(QG)XQFWLRQ
7KHELJJHVWSUREOHPZLWKWKLVPHWKRGRIGLVSOD\LQJLQIRUPDWLRQRFFXUVZKHQWKH
:+B&$//:1'352&KRRNLVFDOOHG,I\RXQRWLFH,KDYHFRPPHQWHGRXWWKHFRGHWKDW
ZULWHVWKHLQIRUPDWLRQIRUWKLVKRRNWRWKHWH[WER[,QLWLDOO\ZKHQ,OHIWWKLVFRGHXQFRPPHQWHG
DQGUDQWKLVDSSOLFDWLRQLWLPPHGLDWHO\FUDVKHG7KLVRFFXUUHGEHFDXVHD
:+B&$//:1'352&KRRNLQVWDOOHGDVHLWKHUDV\VWHPZLGHRUWKUHDGVSHFLILFKRRNLVFDOOHG
ZKHQHYHUDQ\WKLQJLVZULWWHQWRWKHWH[WER[7KLVFDXVHVWKHILOWHUIXQFWLRQWREHUHHQWHUHG
EHIRUHLWFDQILQLVK7KLVLQWXUQFDXVHVDVWDFNRYHUIORZDQGWKHDSSOLFDWLRQFUDVKHV
2QHZD\WRJHWDURXQGWKLVLVWRXVHWKH2XWSXW'HEXJ6WULQJDSSOLFDWLRQSURJUDPPLQJ
LQWHUIDFH$3, IXQFWLRQDQGWKH'%0RQXWLOLW\WRPRQLWRUWKH:+B'(%8*KRRNLQVWHDGRIWKH
WH[WER[PHWKRG7KH2XWSXW'HEXJ6WULQJIXQFWLRQLVGHILQHGDVIROORZV
3XEOLF'HFODUH6XEF/LENHUQHO$OLDV2XWSXW'HEXJ6WULQJ$B
%\9DOOS2XWSXW6WULQJ$V6WULQJ
,WVVLQJOHSDUDPHWHULV OS2XWSXW6WULQJ
7KHVWULQJWKDWZLOOEHVHQWWRWKHGHEXJJHUKRRNHGXSWRWKHFXUUHQWDSSOLFDWLRQ
7KLVVXEURXWLQHWDNHVRQHSDUDPHWHUDQGGRHVQRWKDYHDUHWXUQYDOXH7KHOS2XWSXW6WULQJ
SDUDPHWHULVGLVSOD\HGLQWKHGHEXJJHUIRUWKHFXUUHQWDSSOLFDWLRQ,IQRGHEXJJHULVSUHVHQW
QRWKLQJKDSSHQV:KHQ\RXUXQWKH'%0RQXWLOLW\DORQJVLGH\RXUDSSOLFDWLRQ\RXFDQGLVSOD\
RXWSXWIURP2XWSXW'HEXJ6WULQJ
7RPDNHWKLVFKDQJHLQWKH'HEXJ3URFILOWHUIXQFWLRQVLPSO\FKDQJHHDFKOLQHRIFRGHWKDW
VHQWDOLQHRIWH[WWRWKH7H[WWH[WER[IURPWKLV
)RUP7H[W7H[W )RUP7H[W7H[W :+B6+(//&2'( O3DUDPFRGH B
:3$5$0 O3DUDPZ3DUDP B
/3$5$0 O3DUDPO3DUDP YE1HZ/LQH
WRWKLV
2XWSXW'HEXJ6WULQJ:+B6+(//&2'( O3DUDPFRGH B
:3$5$0 O3DUDPZ3DUDP /3$5$0 O3DUDPO3DUDP
7KLVPHWKRGSUHYHQWVDVWDFNRYHUIORZFUDVKIURPRFFXUULQJLQ\RXU:+B'(%8*KRRN
:HFDQPRGLI\WKLVDSSOLFDWLRQVOLJKWO\WRVKRZWKHHIIHFWVRIWKH:+B'(%8*KRRNRQD
VLQJOHW\SHRIKRRNLQVWDOOHGPXOWLSOHWLPHV
VKRZQLQ([DPSOH7ZRQHZFDOOVWR6HW:LQGRZV+RRN([DUHDGGHGWRWKLVIXQFWLRQ 1RWLFHWKDWWKLVVHWRIFDOOVLQVWDOOVWKH:+B*(70(66$*(KRRNWZLFH7ZRQHZILOWHU
IXQFWLRQVDUHDGGHGWRWKH%$6PRGXOHWRKDQGOHWKHVHWZRKRRNVDV([DPSOH LOOXVWUDWHV
([DPSOH,QVWDOOLQJD+RRN0XOWLSOH7LPHV
3XEOLF6XE6HW6KHOO+RRN
,I,V+RRNHG7KHQ
0VJ%R['RQ WKRRN6+(//WZLFHRU\RXZLOOEHXQDEOHWRXQKRRNLW
(OVH
K+RRN6KHOO 6HW:LQGRZV+RRN([:+B6+(//$GGUHVV2I6KHOO3URFB $SS7KUHDG,'
K+RRN*HW0VJ 6HW:LQGRZV+RRN([:+B*(70(66$*($GGUHVV2I*03URFB $SS7KUHDG,'
K+RRN*HW0VJ 6HW:LQGRZV+RRN([:+B*(70(66$*($GGUHVV2I*03URFB
$SS7KUHDG,'
,V+RRNHG 7UXH (QG,I
(QG6XE ([DPSOH7KH7ZR:+B*(70(66$*()LOWHU)XQFWLRQV 3XEOLF)XQFWLRQ*03URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
)RUP7H[W7H[W )RUP7H[W7H[W 0\ILUVWLQVWDOOHG B
:+B*(70(66$*(+RRN&DOOHG YE1HZ/LQH
*03URF &DOO1H[W+RRN([K+RRN*HW0VJX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
3XEOLF)XQFWLRQ*03URF%\9DOX&RGH$V/RQJ%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
)RUP7H[W7H[W )RUP7H[W7H[W 0\VHFRQGLQVWDOOHG B
:+B*(70(66$*(+RRN&DOOHG YE1HZ/LQH
*03URF &DOO1H[W+RRN([K+RRN*HW0VJX&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
$V([DPSOHVKRZVWZRFDOOVWR8QKRRN:LQGRZV+RRN([DUHDGGHGWRWKH
5HPRYH'HEXJ+RRNIXQFWLRQWRUHPRYHWKHKRRNVDQGDOORZRXUDSSOLFDWLRQWRVWRSJUDFHIXOO\
([DPSOH5HPRYLQJ0XOWLSOH:+B*(70(66$*(+RRNV 3XEOLF6XE5HPRYH6KHOO+RRN
'LPWHPS$V/RQJ
WHPS 8QKRRN:LQGRZV+RRN([K+RRN6KHOO
WHPS 8QKRRN:LQGRZV+RRN([K+RRN*HW0VJ WHPS 8QKRRN:LQGRZV+RRN([K+RRN*HW0VJ
,V+RRNHG )DOVH (QG6XE
1RZUXQWKHDSSOLFDWLRQDQGLQVWDOOWKH:+B*(70(66$*(KRRNVEXWQRWWKH:+B'(%8*
KRRN)LJXUHVKRZVDVFUHHQVKRWRIWKHDSSOLFDWLRQUXQQLQJ7KHRXWSXWLQWKH7H[W WH[WER[ORRNVVLPLODUWRWKHIROORZLQJ
0\VHFRQGLQVWDOOHG:+B*(70(66$*(+RRN&DOOHG
0\ILUVWLQVWDOOHG:+B*(70(66$*(+RRN&DOOHG
0\VHFRQGLQVWDOOHG:+B*(70(66$*(+RRN&DOOHG
0\ILUVWLQVWDOOHG:+B*(70(66$*(+RRN&DOOHG
$V\RXFDQVHHWKHODVWKRRNZHLQVWDOOHGLVJHWWLQJFDOOHGILUVWIROORZHGE\WKHILUVWKRRNWKDW
ZHLQVWDOOHG7KLVIROORZVWKHFDOOLQJSDWWHUQWKDWRFFXUVLQILOWHUIXQFWLRQFKDLQV )LJXUH6FUHHQVKRWRIWKHUXQQLQJDSSOLFDWLRQ
1H[WLQVWDOOWKH:+B'(%8*KRRN)LJXUHGLVSOD\VDVFUHHQVKRWRIWKHUXQQLQJ
DSSOLFDWLRQ:KHQ\RXLQVWDOOWKLVKRRNWKHRXWSXWORRNVVLPLODUWRWKHIROORZLQJ
:+B*(70(66*(&RGH:3$5$0/3$5$0
0\VHFRQGLQVWDOOHG:+B*(70(66$*(+RRN&DOOHG
:+B*(70(66*(&RGH:3$5$0/3$5$0
0\ILUVWLQVWDOOHG:+B*(70(66$*(+RRN&DOOHG
:+B*(70(66*(&RGH:3$5$0/3$5$0
:+B*(70(66*(&RGH:3$5$0/3$5$0
0\VHFRQGLQVWDOOHG:+B*(70(66$*(+RRN&DOOHG
:+B*(70(66*(&RGH:3$5$0/3$5$0
0\ILUVWLQVWDOOHG:+B*(70(66$*(+RRN&DOOHG
:+B*(70(66*(&RGH:3$5$0/3$5$0
$V\RXFDQVHHWKHRXWSXWVKRZVWKDWWKH:+B'(%8*KRRNLVFDOOHGEHIRUHWKHODVWKRRN
WKDWZHLQVWDOOHG1H[WWKHODVWKRRNZHLQVWDOOHGLVFDOOHG2QFHDJDLQWKH:+B'(%8*KRRN
LVFDOOHGWKLVWLPHIRUWKHILUVWKRRNWKDWZHLQVWDOOHG$IWHUWKLVRXUILUVWKRRNLVFDOOHG1RZ
VRPHWKLQJVWUDQJHKDSSHQVWKH:+B'(%8*KRRNLVDJDLQFDOOHGIRUQRDSSDUHQWUHDVRQ )LJXUH6FUHHQVKRWRIWKHUXQQLQJDSSOLFDWLRQZLWKWKH:+B'(%8*KRRNLQVWDOOHG
7KHWKLUGFDOOWRWKH:+B'(%8*KRRNLVGXHWRDWKLUGSDUW\DSSOLFDWLRQLQVWDOOLQJDV\VWHP
ZLGH:+B*(70(66$*(KRRNSULRUWRRXUDSSOLFDWLRQLQVWDOOLQJWKHRWKHUWZR
:+B*(70(66$*(KRRNV7KH:+B'(%8*KRRNLVFDOOHGLQWKHFRQWH[WRIWKHWKUHDGLQ
ZKLFKRXUDSSOLFDWLRQLVUXQQLQJEHFDXVHWKHV\VWHPZLGHKRRNDOVRLVFDOOHGIURPWKLVWKUHDG
7KLVPLJKWQRWRFFXURQ\RXUV\VWHPH[DFWO\DVLWGLGRQP\PDFKLQHEHFDXVHDWKLUGSDUW\
DSSOLFDWLRQPLJKWQRWKDYHLQVWDOOHGWKLVKRRN
6RPH:+B'(%8*6FHQDULRV ,QWKLVVHFWLRQZH OOH[DPLQHVRPHFRPPRQSUREOHPVWKDWDULVHZKHQGHEXJJLQJKRRNVDQG
VKRZKRZ\RXFDQXVHWKH:+B'(%8*KRRNWRGLDJQRVHDQGVROYHWKHP
3UREOHP0LVEHKDYLQJ6\VWHP:LGH+RRN 6RPHWLPHVDPLVEHKDYLQJV\VWHPZLGHKRRNFDQLQWHUIHUHZLWK\RXUKRRN VRSHUDWLRQ
&RQVLGHUWKHVLWXDWLRQLQZKLFK\RXUDSSOLFDWLRQLQVWDOOVDV\VWHPZLGHNH\ERDUGKRRNZKHQ
WKHV\VWHPILUVWERRWVXS/DWHURQDWKLUGSDUW\DSSOLFDWLRQLQVWDOOVDNH\ERDUGKRRN7KLV
NH\ERDUGKRRNKRZHYHUGRHVQRWFDOOWKH&DOO1H[W+RRN([IXQFWLRQDWWKHHQGRILWVILOWHU
IXQFWLRQDVDZHOOEHKDYHGKRRNVKRXOG:KHQ\RXUDSSOLFDWLRQLVUXQQLQJ\RXQRWLFHWKDW
\RXUKRRNGRHVQRWZRUNRUZRUVHWKDWLWZRUNVLQWHUPLWWHQWO\
7RGHWHUPLQHWKHFDXVH\RXFDQLQVWDOOD:+B'(%8*KRRNRQWKHVDPHWKUHDGDVWKHWDUJHW
KRRNDQGRQO\ZDWFKIRUFDOOVWRDQ\NH\ERDUGKRRNV:DWFKLQJIRUWKH:+B.(<%2$5'
FRQVWDQWLQWKHZ3DUDPSDUDPHWHURIWKH:+B'(%8*KRRNDOORZV\RXWRZDWFKFDOOVWKDWDUH
PDGHWRWKH:+B.(<%2$5'KRRN VILOWHUIXQFWLRQ7KLV:+B'(%8*KRRNZLOOLQWHUFHSW
KRRNVLQVWDOOHGZLWKV\VWHPZLGHVFRSHRUWKRVHLQVWDOOHGIURPWKHVDPHWKUHDGDVWKH
:+B'(%8*KRRN
$IWHU\RXLQVWDOOWKH:+B'(%8*KRRN\RXQRWLFHWKDWLWLVFDSWXULQJLQIRUPDWLRQDERXWDKRRN
WKDWKDVWKHVDPHLG7KUHDGDVWKHWKUHDGWKDWFRQWDLQV\RXU:+B'(%8*KRRNDVZHOODV
\RXUNH\ERDUGKRRN%XWZKHQ\RXLQVSHFWWKHLG7KUHDG,QVWDOOHUPHPEHU\RXQRWLFHWKDWLWLV
GLIIHUHQWIURPWKHLG7KUHDGYDOXH7KLVLQGLFDWHVWKDWWKHQH[WNH\ERDUGKRRNWREHFDOOHGZDV
LQVWDOOHGE\DGLIIHUHQWSURFHVVEXWWKHILOWHUIXQFWLRQZKLFKH[LVWVLQVLGHD'//KDVEHHQ
LQMHFWHGLQWR\RXUDSSOLFDWLRQ VSURFHVV
,QYHVWLJDWLQJZLWK6S\RUVRPHRWKHUSURFHVVYLHZHU\RXILQGWKDWWKLVWKUHDGKDQGOH
EHORQJVWRDWKLUGSDUW\DSSOLFDWLRQ7KHQH[WVWHSLVWRSUHYHQWWKDWWKLUGSDUW\DSSOLFDWLRQ
IURPLQVWDOOLQJ,WLVDOVRDJRRGLGHDWRUHERRWMXVWWRPDNHVXUHWKHV\VWHPZLGHNH\ERDUG
KRRNWKDWLWLQVWDOOHGLVUHPRYHGIURPDOOSURFHVVHV$IWHU\RXGRWKLV\RXFDQUHVWDUW\RXUWHVW
ZLWK\RXUDSSOLFDWLRQ,IDQRWKHUV\VWHPZLGHKRRNLVLQVWDOOHG\RXVKRXOGUHPRYHWKLVRQHDV
ZHOO$IWHU\RXKDYHUHPRYHGDOOKRRNV\RXVKRXOGVHHWKHFDOOWR\RXULQVWDOOHGNH\ERDUG
KRRNDSSHDULQVLGHWKH:+B'(%8*KRRN VILOWHUIXQFWLRQ,I\RXGRQ WYHULI\WKDWWKHKRRNLV
EHLQJLQVWDOOHGSURSHUO\6HW:LQGRZV+RRN([VKRXOGEHUHWXUQLQJDQRQ]HURQXPEHU
3UREOHP'HWHUPLQLQJLI+RRNV$UH,QWHUIHULQJZLWK(DFK2WKHU 2QHQLFHIHDWXUHWKDWWKH:+B'(%8*KRRNSURYLGHVLVWKHDELOLW\WRSUHYHQWWKHWDUJHWKRRN
IURPEHLQJFDOOHG7RGRWKLV\RXRQO\QHHGWRUHWXUQDQRQ]HURYDOXHIURPWKH:+B'(%8*
KRRN VILOWHUIXQFWLRQDQGWKHWDUJHWKRRNZLOOQRWEHFDOOHG
3UHYHQWLQJWKHV\VWHPIURPFDOOLQJWKHWDUJHWKRRNLVHVSHFLDOO\XVHIXOZKHQ\RXDUHLQVWDOOLQJ
PRUHWKDQRQHKRRNDQG\RXQHHGWRGHWHUPLQHLIDQGZK\WKHKRRNVDUHLQWHUIHULQJZLWKHDFK
RWKHU)RUH[DPSOHDNH\ERDUGKRRNPLJKWEHFDXVLQJDPHVVDJHWREHSRVWHGWRDZLQGRZ
ZKLFKLVLQWXUQLQWHUFHSWHGE\D*HW0HVVDJHKRRN
*HW0HVVDJHKRRNWREHFDOOHGDWWKLVWLPHDQGXQH[SHFWHGEHKDYLRUPLJKWUHVXOW7KHVHDUH
KDUGHUURUVWRILQGEXWWKH:+B'(%8*KRRNDOORZV\RXWRWUDFHWKHRUGHUDQGQXPEHURI
WLPHVDKRRNLVFDOOHG
6LPSO\LQVWDOOWKH:+B'(%8*KRRNDQGZDWFKRQO\IRUWKHVHWZRKRRNVWREHFDOOHG,IDQ\
V\VWHPZLGHKRRNVDUHLQVWDOOHGWKDWGXSOLFDWHWKHKRRNVWKDW\RXZDQWWRGHEXJ\RXVKRXOG
IROORZWKHSURFHGXUHGLVFXVVHGSUHYLRXVO\WRHOLPLQDWHWKHP
$V\RXRSHUDWH\RXUDSSOLFDWLRQ\RXVKRXOGZDWFKWKHRUGHULQZKLFKWKHWZRKRRNVDUHEHLQJ
FDOOHG,IWKH*HW0HVVDJHKRRNLVEHLQJFDOOHGLPPHGLDWHO\DIWHUWKHNH\ERDUGKRRNDWVSHFLILF
WLPHV\RXVKRXOGIRFXVLQRQWKHDFWLRQVWKHXVHUSHUIRUPHGZKHQWKLVKDSSHQV
1H[W\RXVKRXOGH[DPLQHWKHX&RGHO3DUDPDQGZ3DUDPSDUDPHWHUVWKDWDUHEHLQJVHQWWR
WKHWDUJHWKRRNV7KHLQIRUPDWLRQWKDWWKHVHSDUDPHWHUVFRQWDLQVKRXOGSURYLGHVRPHLQVLJKW
DERXWZKHUHWKHSUREOHPOLHV
3UREOHP3HUIRUPDQFH'HJUDGDWLRQ $QRWKHULQVWDQFHLQZKLFKWKH:+B'(%8*KRRNFRPHVLQKDQG\LVZKHQDSSOLFDWLRQ
SHUIRUPDQFHVORZVZKHQRQHRUPRUHKRRNVDUHLQVWDOOHG7KH:+B'(%8*KRRNFDQ PRQLWRUWKHLQVWDOOHGKRRNVDQGGHWHUPLQHKRZPDQ\WLPHVDKRRNLVFDOOHG
,QWKLVFDVH\RXPLJKWZDQWWRVHWXSDFRXQWHULQVLGHWKH:+B'(%8*KRRN VILOWHUIXQFWLRQ
WKDWLQGLFDWHVWKHQXPEHURIWLPHVDKRRNLVFDOOHG
DQGVWRSWKLVFRXQWHUDWZLOOLQRWKHUZRUGVWRLQVWDOODQGUHPRYHWKH:+B'(%8*KRRN
ZKHQHYHU\RXZDQW7KLVZD\\RXFDQJDWKHULQIRUPDWLRQDWVSHFLILFSRLQWVRIH[HFXWLRQLQ
WKHDSSOLFDWLRQDQGFRPSDUHWKHP,I\RXUKRRNLVEHLQJFDOOHGDODUJHQXPEHURIWLPHVDW
FHUWDLQSRLQWVLQ\RXUDSSOLFDWLRQ\RXQHHGWRH[DPLQH\RXUDSSOLFDWLRQWRVHHZKDWLVFDXVLQJ
WKHKRRNWREHFDOOHG
8QRSWLPL]HGILOWHUIXQFWLRQVXVHGLQKRRNVVXFKDV:+B0286(:+B&$//:,1'2:352&
:+B*(70(66$*(:+B)25(*5281','/(:+B06*),/7(5RU:+B6<606*),/7(5
FDQKXUWDSSOLFDWLRQSHUIRUPDQFHEHFDXVHWKHVHW\SHVRIKRRNVFDQSRWHQWLDOO\LQWHUFHSWD
KXJHQXPEHURIPHVVDJHVHYHU\VHFRQG7KHPRUHWLPHWKDWLVVSHQWLQWKHILOWHUIXQFWLRQWKH
OHVVWLPHWKHDSSOLFDWLRQKDVWRGRLWVUHJXODUSURFHVVLQJ,QWKLVFDVH\RXPLJKWDOVRZDQWWR
SURILOH\RXUILOWHUIXQFWLRQWRGHWHUPLQHKRZPXFKWLPHLVVSHQWLQVLGHWKHILOWHUIXQFWLRQ
&DYHDWV :LWKHYHU\RWKHUKRRN,KDYHGLVFXVVHGWKXVIDU,KDYHZDUQHGDERXWVWURQJO\FRQVLGHULQJ
SHUIRUPDQFHZKHQZULWLQJWKHILOWHUIXQFWLRQV
FRQVLGHUDWLRQZKHQXVLQJWKLVKRRNKRZHYHUEHFDXVHWKLVKRRNLVDWRROXVHGIRUGHEXJJLQJ
SXUSRVHV
\RXUSURGXFW
, PVXUHVRPHRQHRXWWKHUHZLOOILQGDOHJLWLPDWHUHDVRQIRUNHHSLQJD:+B'(%8*KRRNLQ
WKHILQDOUHOHDVHRI\RXUDSSOLFDWLRQ,QWKLVFDVH,ZRXOGSODFHSHUIRUPDQFHDWWKHIRUHIURQW
ZKHQGHVLJQLQJWKLVKRRN VILOWHUIXQFWLRQEHFDXVHWKLVKRRNLVFDOOHGRQFHIRUHYHU\KRRNWKDW
\RXLQVWDOOLQ\RXUV\VWHPSOXVIRUHYHU\V\VWHPZLGHKRRN,I\RXU:+B'(%8*KRRNLVD V\VWHPZLGHKRRN\RXLQWHUFHSWFDOOVPDGHWRHYHU\KRRNLQHYHU\WKUHDGUXQQLQJLQWKH
V\VWHP7KDWLVDJUHDWGHDORIRYHUKHDGIRUDQDSSOLFDWLRQ,QFDVHVVXFKDVWKLV,ZRXOG
IRUFHWKHFRGHWRIDOOWKURXJKDQGLPPHGLDWHO\FDOO&DOO1H[W+RRN([ZKHQHYHU\RXHQFRXQWHU
DFDOOWRDWDUJHWKRRNZKLFK\RXGRQRWFDUHDERXW
+HUHDUHDFRXSOHRIWKLQJVWRUHPHPEHU •
7KH:+B'(%8*KRRNLVFDOOHGRQFHIRUHYHU\ILOWHUIXQFWLRQWKDWLVLQVWDOOHGLQDILOWHU
IXQFWLRQFKDLQ
•
,I\RXLQVWDOODWKUHDGVSHFLILF:+B'(%8*KRRNDQGLWVWDUWVSLFNLQJXSFDOOVWRKRRNV
WKDW\RXKDYHQRWLQVWDOOHGWKHVHH[WUDKRRNFDOOVDUHFDXVHGE\DQRWKHUDSSOLFDWLRQ
LQVWDOOLQJDV\VWHPZLGHKRRN • • •
8VLQJ2XWSXW'HEXJ6WULQJDQGWKH'%0RQXWLOLW\DUHIDUEHWWHUWKDQZULWLQJWUDFH
LQIRUPDWLRQWRDWH[WER[ZLWKLQWKHKRRNHGDSSOLFDWLRQ
5HWXUQLQJDQRQ]HURYDOXHIURPD:+B'(%8*KRRNILOWHUIXQFWLRQZLOOSUHYHQWWKH
WDUJHWKRRNIURPEHLQJFDOOHG
RXWSXWLVQRWDOZD\VFRUUHFW
$OVRUHPHPEHUWKDWWKH:+B'(%8*KRRNGRHVQRWLQWHUFHSWFDOOVWRORZOHYHOKRRNVVXFK DV:+B.(<%2$5'B//DQG:+B0286(B//EHFDXVHWKHVHKRRNVDUHFDOOHGHDUO\RQLQ
PHVVDJHSURFHVVLQJDQGWKH:+B'(%8*KRRNFDQQRWVHHWKHFDOOVWRWKHVHKRRNV
3DUW,97KH1(73ODWIRUP &KDSWHUDQG&KDSWHUZLOOH[SODLQKRZWRLPSOHPHQWVXEFODVVLQJ DQGKRRNVXVLQJ9%1(77KHVHFKDSWHUVDVVXPHDIDPLOLDULW\ZLWKWKH
9%1(7ODQJXDJHDVZHOODVZLWKWKHLQIRUPDWLRQFRQWDLQHGLQ&KDSWHU DQG&KDSWHU
&KDSWHU6XEFODVVLQJ1(7:LQ)RUPV 7KLVLVWKHILUVWRIWZRFKDSWHUVFRYHULQJWKHWHFKQLTXHVRIVXEFODVVLQJDQGKRRNLQJDVWKH\ DSSO\WR9%1(77KLVFKDSWHUZLOOFRYHUKRZWRVXEFODVVD:LQ)RUP7KHQH[WFKDSWHUZLOO
H[SODLQKRZWRLPSOHPHQWKRRNVLQ9%1(7
:KDW,VD:LQ)RUP" 6LPSO\D:LQ)RUPLVDQDORJRXVWRD9LVXDO%DVLF9% )50IRUPPRGXOH2QWKHH[WHULRU
ERWKW\SHVRIIRUPVRSHUDWHLQDVLPLODUIDVKLRQORRNWKHVDPHDQGDUHXVHGDVFRQWDLQHUVWR
GLVSOD\FRQWUROV,QWHUQDOO\KRZHYHUWKH\DUHYHU\GLIIHUHQW
WKH6\VWHP:LQ)RUPVQDPHVSDFHZKLFKLVFRQWDLQHGZLWKLQWKH6\VWHP:LQIRUPV'//ILOH
7KH)RUPFODVVLQKHULWVIURPVHYHUDORWKHUFODVVHV7KHIROORZLQJOLVWLQJVKRZVWKHFODVV
KLHUDUFK\IRUWKH)RUPFODVV Object MarshalByRefObject MarshalByRefComponent Control RichControl ScrollableControl ContainerControl Form
7KH2EMHFWFODVVLVWKHXOWLPDWHEDVHFODVVRIWKH)RUPFODVVDVZHOODVDOORWKHUFODVVHV
FRQWDLQHGLQWKH1(7IUDPHZRUN$EULHIGHVFULSWLRQRIHDFKFODVVIROORZV Object 7KHEDVHFODVVRIHYHU\REMHFWLQWKH1(7IUDPHZRUN MarshalByRefObject
&RQWDLQVEDVHLPSOHPHQWDWLRQIRUXVHE\REMHFWVWKDWQHHGUHPRWLQJDELOLW\ MarshalByRefComponent
&RQWDLQVEDVHLPSOHPHQWDWLRQIRUXVHE\DOOFRQWUROVWKDWFDQEHVLWHGRQDIRUP
Control
&RQWDLQVEDVHLPSOHPHQWDWLRQIRUXVHE\DOOREMHFWVWKDWKDYHDXVHULQWHUIDFH7KLV
FODVVKDQGOHVNH\ERDUGDQGPRXVHLQSXWDVZHOODVPHVVDJHURXWLQJDQGVHFXULW\
7KLVFODVVLVFHQWUDOWRVXEFODVVLQJ RichControl
([WHQGVWKH&RQWUROFODVVE\DGGLQJWKHDELOLW\WRSDLQWLWVHOIWRFRQWUROFRQWH[W
PHQXVDQGWRKDQGOHGRFNLQJDQGDQFKRULQJRILWVZLQGRZ ScrollableControl
$GGVWKHDELOLW\IRUDZLQGRZWRGLVSOD\DQGKDQGOHYHUWLFDODQGKRUL]RQWDOVFUROOEDUV
XVHGWRVFUROOWKHFOLHQWDUHDRIWKHZLQGRZ ContainerControl
$GGVWKHDELOLW\IRUDZLQGRZWRFRQWDLQRWKHUFRQWUROVDVZHOODVWRKDQGOHFRQWURO
IRFXV Form
8VHGWRFUHDWHD6LQJOH'RFXPHQW,QWHUIDFH6', ZLQGRZ0XOWLSOH'RFXPHQW
,QWHUIDFH0', ZLQGRZGLDORJER[WRROZLQGRZERUGHUOHVVZLQGRZRUIORDWLQJ
ZLQGRZ
ER[HV
7KH:LQ)RUPLVPRUHUREXVWDQGFRQWDLQVPRUHIXQFWLRQDOLW\WKDQWKHIRUPVLQSUHYLRXV
YHUVLRQVRI9%%HIRUHVXEFODVVLQJD:LQ)RUPRUDFRQWUROLWLVDJRRGLGHDWRUHVHDUFKWKH
SUHYLRXVOLVWRIFODVVHVWRGHWHUPLQHLIWKHIXQFWLRQDOLW\\RXQHHGLVDOUHDG\EXLOWLQ
8VLQJD:LQ)RUP 7RXVHD:LQ)RUPLQ9%1(7\RXPXVWILUVWLPSRUWWKH6\VWHP:LQIRUPVQDPHVSDFHLQWR
\RXUDSSOLFDWLRQ
,PSRUWV6\VWHP:LQ)RUPV
WZRRWKHUQDPHVSDFHVDVZHOOWKH\DUH ,PSRUWV6\VWHP&RPSRQHQW0RGHO
,PSRUWV6\VWHP'UDZLQJ
7KH6\VWHP&RPSRQHQW0RGHOQDPHVSDFHFRQWDLQVFRUHFRPSRQHQWIXQFWLRQDOLW\VXFKDV
FRQWDLQPHQWOLFHQVLQJDQGDWWULEXWHKDQGOLQJDVZHOODVPDQ\RWKHUV7KH6\VWHP'UDZLQJ
QDPHVSDFHFRQWDLQVIXQFWLRQDOLW\WRSDLQWREMHFWVRQWKHVFUHHQ
$IWHU\RXLPSRUWWKLVQDPHVSDFHLQWRWKHDSSOLFDWLRQ\RXQHHGWRFUHDWHDFODVVWKDWLQKHULWV
IURPWKH)RUPFODVV
3XEOLF&ODVV)RUP
,QKHULWV6\VWHP:LQ)RUPV)RUP
3ODFHIRUPFRGHKHUH
(QG&ODVV
7RDOORZ\RXUSURMHFWWRXVHWKLVIRUP\RXPXVWVSHFLI\LQWKHSURMHFWSURSHUWLHVGLDORJER[
WKDWWKH6WDUWXS2EMHFWSURSHUW\LVHTXDOWRSURMHFWQDPH!)RUPZKHUHSURMHFWQDPH!LV
WKHQDPHRI\RXUSURMHFW7KLVZLOOFDXVH)RUPWREHWKHVWDUWXSIRUPIRUWKLVSURMHFWWKDWLV
WKHDSSOLFDWLRQZLOOFUHDWHDQGGLVSOD\WKLVIRUPILUVWXSRQVWDUWXS
,I\RXXVHWKH9LVXDO6WXGLR1(7961(7 ZL]DUGWRFUHDWHD9%1(7:LQ)RUPVDSSOLFDWLRQ
LWZLOOVHWXS\RXUSURMHFWWRFRQWDLQDVLQJOH9%ILOHFDOOHG)RUP,WDOVRZLOODXWRPDWLFDOO\
FUHDWHRWKHUSURMHFWILOHVEXWZHDUHQRWFRQFHUQHGZLWKWKHVHILOHV7KHFRGHLQWKLVILOHORRNV
VLPLODUWRWKHFRGHSUHVHQWHGLQ([DPSOH
([DPSOH961(7:L]DUG&UHDWHG&RGHIRUD:LQ)RUP$SSOLFDWLRQ ,PSRUWV6\VWHP&RPSRQHQW0RGHO
,PSRUWV6\VWHP'UDZLQJ
,PSRUWV6\VWHP:LQ)RUPV
3XEOLF&ODVV)RUP
,QKHULWV6\VWHP:LQ)RUPV)RUP
3XEOLF6XE1HZ 0\%DVH1HZ )RUP 0H
7KLVFDOOLVUHTXLUHGE\WKH:LQ)RUP'HVLJQHU ,QLWLDOL]H&RPSRQHQW
72'2$GGDQ\LQLWLDOL]DWLRQDIWHUWKH,QLWLDOL]H&RPSRQHQW FDOO
(QG6XE
)RUPRYHUULGHVGLVSRVHWRFOHDQXSWKHFRPSRQHQWOLVW
2YHUULGHV3XEOLF6XE'LVSRVH 0\%DVH'LVSRVH
FRPSRQHQWV'LVSRVH (QG6XE
5HJLRQ:LQGRZV)RUP'HVLJQHUJHQHUDWHGFRGH
5HTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
3ULYDWHFRPSRQHQWV$V6\VWHP&RPSRQHQW0RGHO&RQWDLQHU
'LP:LWK(YHQWV)RUP$V6\VWHP:LQ)RUPV)RUP
127(7KHIROORZLQJSURFHGXUHLVUHTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
,WFDQEHPRGLILHGXVLQJWKH:LQGRZV)RUP'HVLJQHU 'RQRWPRGLI\LWXVLQJWKHFRGHHGLWRU 3ULYDWH6XE,QLWLDOL]H&RPSRQHQW
FRPSRQHQWV 1HZ6\VWHP&RPSRQHQW0RGHO&RQWDLQHU
0H7H[W )RUP (QG6XE
(QG5HJLRQ
(QG&ODVV
7KH6XE1HZVXEURXWLQHLVWKHFRQVWUXFWRUIRUWKLVFODVV7KHIRUPFRQVWUXFWRUUHSODFHVWKH IDPLOLDU)RUPB/RDGHYHQWLQSUHYLRXVYHUVLRQVRI9%7KLVFRQVWUXFWRULQLWLDOO\FDOOVWKH
FRQVWUXFWRURIWKHEDVHFODVVDQGWKHQLPPHGLDWHO\VHWVWKH0HUHIHUHQFHWRLWVHOI7KLV0H
UHIHUHQFHRSHUDWHVVLPLODUWRWKH0HUHIHUHQFHLQSUHYLRXVYHUVLRQVRI9%/DVWWKH
FRQVWUXFWRUFDOOVWKH,QLWLDOL]H&RPSRQHQWPHWKRGVKRZQDWWKHERWWRPRI([DPSOH 7KH,QLWLDOL]H&RPSRQHQWPHWKRGLQLWLDOL]HVWKHIRUPDVDFRQWDLQHUIRUFRQWUROVDQGVHWVLWV
FDSWLRQWR)RUP
7KHZL]DUGDOVRDGGVD'LVSRVHVXEURXWLQHWRDOORZWKHIRUPWRFOHDQXSDIWHULWVHOIDQGWR
IUHHDQ\UHVRXUFHVLWLVKROGLQJRQWRLQDWLPHO\PDQQHULQVWHDGRIZDLWLQJIRUWKH*DUEDJH
&ROOHFWRUWRSHUIRUPWKLVVWHSDWVRPHXQGHWHUPLQHGODWHUWLPH
7KHIRUPGHVLJQHUZULWHVWKHFRGHEHWZHHQWKH5HJLRQ(QG5HJLRQDV\RXDGGUHPRYH
RUPRGLI\FRQWUROVRQWKLVIRUP7KH5HJLRQSUHSURFHVVRUGLUHFWLYHDOORZV\RXWRFROODSVH
WKLVEORFNRIFRGHVRWKDW\RXUHGLWRUVFUHHQFDQUHPDLQXQFOXWWHUHG
,QVWDQFH6XEFODVVLQJ 6XEFODVVLQJD:LQ)RUPLVPXFKVLPSOHUDQGOHVVHUURUSURQHWKDQVXEFODVVLQJD9%RU
IRUPPRGXOHEHFDXVH0LFURVRIWKDVZULWWHQDOOWKHORZHUOHYHOVXEFODVVLQJFRGHIRU\RX1RZ
DOO\RXUHDOO\KDYHWRZRUU\DERXWLVWKHFRGHWKDW\RXZLOOZULWHIRU\RXUVXEFODVVZLQGRZ
SURFHGXUH
7RXQGHUVWDQGWKLVEHWWHUZHQHHGWRORRNEHKLQGWKHVFHQHVDWDZLQGRZEHLQJFUHDWHGLQD
:LQ)RUPDSSOLFDWLRQ$VVRRQDVWKLVZLQGRZLVFUHDWHGLQPHPRU\WKH*HW:LQGRZ/RQJ: DSSOLFDWLRQSURJUDPPLQJLQWHUIDFH$3, IXQFWLRQLVFDOOHGWRUHSODFHWKHRULJLQDOZLQGRZ
SURFHGXUHZLWKDQHZRQH7KHRULJLQDOZLQGRZSURFHGXUHLVVWRUHGVRWKDWLWFDQEHUHSODFHG
ZKHQWKHZLQGRZLVGHVWUR\HG)RUPRUHGHWDLOVHH6HFWLRQODWHULQWKLVFKDSWHU
%HFDXVHWKH:LQ)RUPDXWRPDWLFDOO\WDNHVFDUHRIVXEFODVVLQJDQGXQVXEFODVVLQJLWVHOIQRW
WRPHQWLRQVWRULQJWKHRULJLQDOZLQGRZSURFHGXUHIRUODWHUXVHZHKDYHIHZHUKHDGDFKHVWR
ZRUU\DERXWZKHQLPSOHPHQWLQJVXEFODVVLQJ2QHWKLQJWKDWWKH:LQ)RUPGRHVQRW
DXWRPDWLFDOO\GRKRZHYHULVZULWHWKHHPSW\VXEFODVVSURFHGXUH
(YHQWKRXJKWKH:LQ)RUPKDQGOHVPXFKRIWKHVXEFODVVLQJDXWRPDWLFDOO\\RXPXVWVWLOO
IROORZWKHVDPHUXOHVDV\RXGLGSUHYLRXVO\ZKHQZULWLQJ\RXUVXEFODVVHGZLQGRZSURFHGXUH
)RUH[DPSOHORQJFRPSOH[FRGHLQWKHZLQGRZSURFHGXUHLQFOXGLQJGLVSOD\LQJDPHVVDJH
ER[RUGLDORJER[IRUXVHULQSXWZLOOVHYHUHO\GHJUDGH\RXUDSSOLFDWLRQ VSHUIRUPDQFH$OVR
\RXPXVWFDOOWKHRULJLQDOZLQGRZSURFHGXUHRIWKHVXEFODVVHG:LQ)RUPVRWKDWGHIDXOW
ZLQGRZSURFHVVLQJFDQRFFXURQWKHPHVVDJH
$PDMRUEHQHILWRIVXEFODVVLQJD:LQ)RUPLVWKDW\RXGRQRWKDYHWRZRUU\DERXWVWRULQJWKH
RULJLQDOZLQGRZSURFHGXUH VDGGUHVVDQGXVLQJLWWRFDOODQGUHVWRUHWKHRULJLQDOZLQGRZ
SURFHGXUH:HZLOOVHHKRZWKLVZRUNVLQWKHILUVWH[DPSOHDSSOLFDWLRQ
7KLVPHWKRGRIVXEFODVVLQJLVDYDLODEOHZKHQXVLQJDQ\
1(7ODQJXDJHVXFKDV&RUPDQDJHG&7KHRQO\ UHTXLUHPHQWLVWKDW\RXXVHWKH:LQ)RUPVFODVVHVZKHQ
FUHDWLQJWKHZLQGRZV
7KHPHVVDJLQJIORZLQD:LQ)RUPIROORZVWKHVDPHSDWKDVGRPHVVDJHVLQDW\SLFDO
VXEFODVVHGZLQGRZ)LUVWWKHPHVVDJHLVSODFHGLQWKHWKUHDG VPHVVDJHTXHXHZKHUHWKH PHVVDJHORRSUHWULHYHVLWDQGVHQGVLWRQWRWKHVXEFODVVHGZLQGRZSURFHGXUH7KLV
VXEFODVVHGZLQGRZSURFHGXUHLVWKHRQHWKDWWKH:LQ)RUPDXWRPDWLFDOO\LQVHUWVIRU\RX1H[W
WKHPHVVDJHLVVHQWRQWRWKHRULJLQDOZLQGRZSURFHGXUHDQGWKHQRQWRWKHGHIDXOWZLQGRZ SURFHGXUH7KHIROORZLQJOLVWVSHFLILHVWKHRUGHULQZKLFKWKHPHVVDJHLVKDQGOHG 7KUHDG0HVVDJH4XHXH
0HVVDJHORRS
6XEFODVVHGZLQGRZSURFHGXUHLQVHUWHGE\1(7 2ULJLQDOZLQGRZSURFHGXUH
'HIDXOW:LQ3URF"5HWXUQ
1H[W,ZLOOSUHVHQWVHYHUDOH[DPSOHVVKRZLQJKRZ\RXFDQVXEFODVVD:LQ)RUP,WLV
LQWHUHVWLQJWRQRWHWKDWWKHUHDUHWKUHHZD\VWRVXEFODVVD:LQ)RUPLQ9%1(7,ZLOOGHVFULEH
HDFKWHFKQLTXHLQWKHQH[WWKUHHH[DPSOHV
7HFKQLTXH2YHUULGLQJWKH:LQ3URF0HWKRG 7KHILUVWWHFKQLTXHIRUVXEFODVVLQJD:LQ)RUPLVWKHVLPSOHVWWRZULWH,WLQYROYHVXVLQJWKH
REMHFWRULHQWHGFDSDELOLWLHVRIWKH:LQ)RUPFODVVHVWRRYHUULGHWKH:QG3URFPHWKRG7KH
:QG3URFPHWKRGLVWKHVXEFODVVHGZLQGRZSURFHGXUHIRUWKH:LQ)RUP7KLVSURFHGXUHLV FRQWDLQHGZLWKLQWKH&RQWUROFODVVIURPZKLFKWKH)RUPFODVVLQKHULWV7KHIXQFWLRQ
GHFODUDWLRQIRU:QG3URFLVDVIROORZV
2YHUULGDEOH3URWHFWHG6XE:QG3URF%\5HIPDV0HVVDJH
7KLVIXQFWLRQLVPDUNHGDV2YHUULGDEOHZKLFKPHDQVWKDWFODVVHVLQKHULWLQJIURPWKH&RQWURO
FODVVFDQRYHUULGHWKHIXQFWLRQDOLW\LQWKH&RQWURO:QG3URFPHWKRGWRSURYLGHWKHLURZQ
LPSOHPHQWDWLRQ7KH3URWHFWHGPRGLILHULQGLFDWHVWKDWWKH&RQWUROFODVVDQGDQ\FODVVHV
LQKHULWLQJIURPWKLVFODVVFDQDFFHVVRQO\WKH:QG3URFPHWKRG7KLVSURWHFWVWKH:QG3URF
PHWKRGIURPEHLQJDFFHVVHGRXWVLGHRIWKHIRUP
7KH:QG3URFPHWKRGWDNHVRQO\RQHSDUDPHWHUPZKLFKLVRIW\SH0HVVDJH
WKDWLWLVPDUNHGDV%\5HIZKLFKPHDQVWKDWWKH:QG3URFFDQPRGLI\WKHPHVVDJHEHIRUHLW
LVSDVVHGEDFNWRWKHRULJLQDOZLQGRZSURFHGXUH
,QD9%DSSOLFDWLRQ\RXFDQGHFODUHDVXEFODVVHGZLQGRZSURFHGXUHDVIROORZV
3XEOLF)XQFWLRQ:QG3URFK:QG$V/RQJ0VJ$V/RQJZ3DUDP$V/RQJB
O3DUDP$V/RQJ DV/RQJ
7KH9%1(7:QG3URFPHWKRGLVPLVVLQJDOOWKHSDUDPHWHUVLQFOXGLQJWKHUHWXUQYDOXH$OO
WKHVHSDUDPHWHUVDUHQRZHQFDSVXODWHGLQWKH0HVVDJHW\SH7KH0HVVDJHW\SHLVD
VWUXFWXUHWKDWFRQWDLQVWKHIROORZLQJILHOGVUHODWLQJWRDZLQGRZ VPHVVDJH Public hWnd As Integer :LQGRZKDQGOHWRZKLFKWKHPHVVDJHLVGLUHFWHG Public msg As Integer ,'RIWKHPHVVDJH Public lParam As Integer
0HDQLQJLVGHWHUPLQHGE\WKHPHVVDJH Public wParam As Integer 0HDQLQJLVGHWHUPLQHGE\WKHPHVVDJH Public result As Integer
5HWXUQYDOXHRIWKHPHVVDJHDIWHUWKHIXQFWLRQSURFHVVHVLW
0HVVDJHW\SH7RFUHDWHDQHZLQVWDQFHWKH0HVVDJHVWUXFWXUHFRQWDLQVDSXEOLFVWDWLF
PHWKRGFDOOHG&UHDWHLQ9%1(7VWDWLFIXQFWLRQVDUHGHFODUHGDV6KDUHG7KHGHFODUDWLRQ
RIWKLVPHWKRGLVDVIROORZV
3XEOLF6KDUHG)XQFWLRQ&UHDWH%\9DOK:QG$V,QWHJHU%\9DOPVJ$V,QWHJHUB
%\9DOZ3DUDP$V,QWHJHU%\9DOO3DUDP$V,QWHJHU $V0HVVDJH
7KHUHDVRQIRUWKLVPHWKRGFDOOLQVWHDGRILQVWDQWLDWLQJDQHZREMHFWLVWKDWWKH1(7
IUDPHZRUNFUHDWHVDSRRORI0HVVDJHVWUXFWXUHVDYDLODEOHWRWKHGHYHORSHU7KH&UHDWH PHWKRGUHWXUQVD0HVVDJHVWUXFWXUHIURPWKLVSRROWKXVLPSURYLQJWKHDSSOLFDWLRQ V
HIILFLHQF\:KHQD&UHDWHPHWKRGWULHVWRUHWXUQD0HVVDJHVWUXFWXUHDQGQRQHLVDYDLODEOH
WKHV\VWHPZLOOFUHDWHDQHZRQH
7RRYHUULGHDEDVHFODVV VIXQFWLRQLQ9%1(7\RXQHHGWRXVHWKH2YHUULGHVNH\ZRUG7KH
IROORZLQJFRGHRYHUULGHVWKH&RQWUROFODVV V:QG3URFPHWKRG
3URWHFWHG2YHUULGHV6XE:QG3URF%\5HIP$V0HVVDJH 6XEFODVVLQJFRGHJRHVKHUH
0\%DVH:QG3URFP (QG6XE
:KHQRYHUULGLQJDPHWKRGHVSHFLDOO\WKH:QG3URFPHWKRG\RXQHHGWRFDOOWKH
RYHUULGGHQRUEDVHPHWKRGWRFRPSOHWHWKHSURFHVVLQJ,Q9%ZHZRXOGXVHWKHIROORZLQJ
$3,IXQFWLRQWRUHWXUQWKHPHVVDJHWRWKHRULJLQDOZLQGRZSURFHGXUH
:QG3URF &DOO:LQGRZ3URF2ULJ:QG3URFKZQGX0VJZ3DUDPO3DUDP
,QWKHFDVHRIWKH:QG3URFPHWKRG\RXPXVWFDOOWKHEDVH:QG3URFPHWKRGFRQWDLQHGLQWKH
&RQWUROFODVV,I\RXGRQ WWKHRULJLQDOZLQGRZSURFHGXUHZLOOQRWSURFHVVWKHPHVVDJH7R
FDOOWKHEDVHFODVVPHWKRGZHQHHGWRXVHWKH0\%DVHNH\ZRUGDVIROORZV
0\%DVH:QG3URFP
7KH0HVVDJHVWUXFWXUHP LVVHQWWRWKHRYHUULGGHQEDVHFODVVWRFRPSOHWHLWVSURFHVVLQJE\
WKHRULJLQDOZLQGRZSURFHGXUH,IZHOHIWRXWWKLVOLQHRIFRGHZHZRXOGLQHIIHFWEH
SUHYHQWLQJWKHZLQGRZIURPILQLVKLQJSURFHVVLQJWKHPHVVDJH 7KHDSSOLFDWLRQ
7KHDSSOLFDWLRQ\RXQHHGWRFUHDWHWRGHPRQVWUDWHWKLVWHFKQLTXHLVVLPSOH7KHRQO\FRQWURO
RQWKHIRUPLVDWH[WER[DV)LJXUHLOOXVWUDWHV7DEOHOLVWVWKHQRQGHIDXOW SURSHUWLHVRIWKHIRUPDQGWKHWH[WER[FRQWURO
)LJXUH7KHDSSOLFDWLRQXVLQJWKHILUVWWHFKQLTXHRIVXEFODVVLQJ
7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
&DSWLRQ
9%1(76XEFODVVLQJ([DPSOH
)RUP
+HLJKW
)RUP
:LGWK
7H[W%R[
0XOWLOLQH
7UXH
7H[W%R[
6FUROOEDUV
7UXH
7H[W%R[
:RUG:UDS
)DOVH
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
7KHVXEFODVVHGZLQGRZSURFHGXUHIRUWKLVDSSOLFDWLRQZDWFKHVIRUWKHULJKWPRXVHEXWWRQWR
EHSUHVVHGZKLOHWKHPRXVHLVRYHUWKHIRUP VFOLHQWDUHD:KHQWKHXVHUFOLFNVLWDPHVVDJH
LVSODFHGLQWKHWH[WER[LQGLFDWLQJWKDWWKHULJKWPRXVHEXWWRQZDVFOLFNHGDQGOLVWLQJWKDW
PHVVDJH V,')URPWKHVFUHHQVKRWRIWKHDSSOLFDWLRQLQ)LJXUHZHFDQVHHWKDWWKH
ULJKWPRXVHEXWWRQZDVFOLFNHGRQWKHIRUPWZLFH$VDQRWHWKHVXEFODVVHGZLQGRZ
SURFHGXUHFDQQRWVHHPHVVDJHVWKDWDUHVHQWWRQRQFOLHQWDUHDVRIWKHIRUP
7KHILUVWGLIIHUHQFH\RXPLJKWQRWLFHEHWZHHQWKLVDSSOLFDWLRQDQGWKHVXEFODVVLQJDSSOLFDWLRQV
LQSUHYLRXVFKDSWHUVLVWKDWWKHUHDUHQR6XEFODVVDQG8Q6XEFODVVEXWWRQVRQWKHIRUP:KHQ
RYHUULGLQJWKH:QG3URFPHWKRGWKH:LQ)RUPLVVXEFODVVHGZKHQLWLVFUHDWHGDQGWKH
VXEFODVVLQJFDQQRWEHUHPRYHGXQWLOWKHIRUPLVGHVWUR\HG7KHV\VWHPUHPRYHVWKH
VXEFODVVLQJLPPHGLDWHO\EHIRUHWKHIRUPLVGHVWUR\HG 7KH9%ILOH
([DPSOHSUHVHQWVWKHFRGHIRUWKLVWHFKQLTXH7KHFRGHDGGHGWRVXEFODVVWKH
:LQ)RUPLVKLJKOLJKWHG7KHFRGHLQWKH:QG3URFPHWKRGZDWFKHVIRUWKH
:0B5%87721'2:1PHVVDJHWREHSDVVHGWRLW:KHQLWUHFHLYHVWKLVPHVVDJHVRPHWH[W
LQGLFDWLQJWKDWWKHULJKWEXWWRQZDVSUHVVHGLVZULWWHQWRWKHWH[WER[8SRQFRPSOHWLQJLWVWDVN
DOOPHVVDJHVDUHVHQWWRWKHEDVH:QG3URFPHWKRGIRUGHIDXOWSURFHVVLQJ ([DPSOH7KH)RUPYE)LOH8VLQJ6XEFODVVLQJ7HFKQLTXH ,PSRUWV6\VWHP&RPSRQHQW0RGHO
,PSRUWV6\VWHP'UDZLQJ
,PSRUWV6\VWHP:LQ)RUPV
3XEOLF&ODVV)RUP
,QKHULWV6\VWHP:LQ)RUPV)RUP
3XEOLF6XE1HZ 0\%DVH1HZ )RUP 0H
,QLWLDOL]H&RPSRQHQW
(QG6XE
)RUPRYHUULGHVGLVSRVHWRFOHDQXSWKHFRPSRQHQWOLVW
3XEOLF2YHUULGHV6XE'LVSRVH 0\%DVH'LVSRVH
FRPSRQHQWV'LVSRVH (QG6XE
5HJLRQ:LQGRZV)RUP'HVLJQHUJHQHUDWHGFRGH
5HTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
3ULYDWHFRPSRQHQWV$V6\VWHP&RPSRQHQW0RGHO&RQWDLQHU
3ULYDWH:LWK(YHQWV7H[W%R[$V6\VWHP:LQ)RUPV7H[W%R[
'LP:LWK(YHQWV)RUP$V6\VWHP:LQ)RUPV)RUP
127(7KHIROORZLQJSURFHGXUHLVUHTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
,WFDQEHPRGLILHGXVLQJWKH:LQGRZV)RUP'HVLJQHU 'RQRWPRGLI\LWXVLQJWKHFRGHHGLWRU 3ULYDWH6XE,QLWLDOL]H&RPSRQHQW
0HFRPSRQHQWV 1HZ6\VWHP&RPSRQHQW0RGHO&RQWDLQHU 0H7H[W%R[ 1HZ6\VWHP:LQ)RUPV7H[W%R[
#GHVLJQ0H7UD\+HLJKW
#GHVLJQ0H7UD\/DUJH,FRQ )DOVH
#GHVLJQ0H7UD\$XWR$UUDQJH 7UXH
7H[W%R[/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
7H[W%R[0XOWLOLQH 7UXH
7H[W%R[6FUROO%DUV 6\VWHP:LQ)RUPV6FUROO%DUV%RWK 7H[W%R[:RUG:UDS )DOVH
7H[W%R[7DE,QGH[
7H[W%R[6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H7H[W 9%1(76XEFODVVLQJ([DPSOH
0H$XWR6FDOH%DVH6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&OLHQW6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&RQWUROV$GG7H[W%R[ (QG6XE
68%&/$66,1*7(&+1,48(
3URWHFWHG2YHUULGHV6XE:QG3URF%\5HIP$V0HVVDJH
,IPPVJ PLFURVRIW:LQ,QWHURSZLQ:0B5%87721'2:17KHQ
WH[WER[7H[W WH[WER[7H[W 7KHULJKWPRXVHEXWWRQZDV B
SUHVVHG0HVVDJH,' PPVJ7R6WULQJ FKU FKU
(QG,I
0\%DVH:QG3URFP (QG6XE
(QG5HJLRQ
(QG&ODVV
7HFKQLTXH%LQGLQJWRD1DWLYH:LQGRZ&ODVV,QVWDQFH 7KLVWHFKQLTXHUHTXLUHVDOLWWOHPRUHFRGHWKDQWKHILUVWWHFKQLTXHEXW\RXJDLQWKHDELOLW\WR
WXUQVXEFODVVLQJRQDQGRIIDWZLOO7KLVWHFKQLTXHZLOOKHOSRSWLPL]H\RXUDSSOLFDWLRQE\
DOORZLQJ\RXWRGHFLGHZKHQWKHVXEFODVVLQJVKRXOGEHSHUIRUPHG
7RXVHWKLVVHFRQGWHFKQLTXHZHPXVWILUVWFUHDWHDFODVVWKDWLQKHULWVIURPWKH
1DWLYH:LQGRZFODVV7KLVQHZFODVVZLOOFRQWDLQWKH:QG3URFPHWKRGDVZHOODVDQHYHQW
KDQGOHUWKDWLVFDOOHGZKHQVXEFODVVLQJLVWXUQHGRQDQGRII
7KH1DWLYH:LQGRZFODVVLVDZUDSSHUDURXQGDQK:QGDQGDZLQGRZSURFHGXUHRIWKH
:LQ)RUPWRZKLFKLWLVERXQG7RELQGD1DWLYH:LQGRZWRD:LQ)RUPZHXVHWKH
1DWLYH:LQGRZ$VVLJQ+DQGOHPHWKRG7KLVPHWKRGLVGHFODUHGDVIROORZV
2YHUULGDEOH3XEOLF6XE$VVLJQKDQGOHKDQGOH$V,QWHJHU
7RELQGD:LQ)RUPWRD1DWLYH:LQGRZFODVVZHVHWWKHKDQGOHSDUDPHWHURIWKLVPHWKRG
HTXDOWRWKHK:QGRIWKH:LQ)RUPWKDWZHDUHVXEFODVVLQJ7KH:LQ)RUPFODVVKDVDUHDG
RQO\SURSHUW\FDOOHG+DQGOHZKLFKLVLQKHULWHGIURPWKH&RQWUROFODVV%\VHWWLQJWKHKDQGOH
SDUDPHWHURIWKH$VVLJQ+DQGOHPHWKRGWRWKH:LQ)RUP+DQGOHSURSHUW\YDOXHZHFDQELQG
WKH:LQ)RUPWRWKH1DWLYH:LQGRZ7KHIROORZLQJFRGHIUDJPHQWSHUIRUPVWKLVRSHUDWLRQ
'LPVF$V1HZ0\6XE&ODVV
VF$VVLJQ+DQGOH)RUP+DQGOH
,QWKLVFRGHIUDJPHQWWKH0\6XE&ODVVFODVVLQKHULWVIURPWKH1DWLYH:LQGRZFODVVDQG
FRQWDLQVDQRYHUULGGHQ:QG3URFPHWKRG7KH1DWLYH:LQGRZREMHFWVF LVFUHDWHGDQGLWV
$VVLJQ+DQGOHPHWKRGLVFDOOHGZLWKLWVKDQGOHSDUDPHWHUVHWWRWKH)RUPIRUP V+DQGOH
SURSHUW\
$WWKLVSRLQWZKHQHYHUWKHDSSOLFDWLRQ VPHVVDJHORRSUHWULHYHVDPHVVDJHIURPWKH
PHVVDJHTXHXHWKHPHVVDJHORRSZLOOH[DPLQHWKHPHVVDJH VK:QGYDOXHDQGGLUHFWLWWR
RXULQVWDQFHRIWKH1DWLYH:LQGRZFODVVVF WKDWFRQWDLQVRXUVXEFODVVHGZLQGRZSURFHGXUH
7RUHPRYHWKHVXEFODVVLQJZHQHHGWRFDOOWKH1DWLYH:LQGRZFODVV V5HOHDVH+DQGOH
PHWKRG7KLVIXQFWLRQLVGHFODUHGDVIROORZV
2YHUULGDEOH3XEOLF6XE5HOHDVH+DQGOH
7KLVPHWKRGWDNHVQRSDUDPHWHUVDQGGRHVQRWUHWXUQDYDOXH7RGHWHUPLQHLIWKLVPHWKRG
H[HFXWHGVXFFHVVIXOO\\RXFDQFKHFNWKH+DQGOHSURSHUW\RIWKHREMHFWWKDWLQKHULWHGIURPWKH
1DWLYH:LQGRZFODVV,IWKH+DQGOHSURSHUW\LVVHWWR]HURWKH5HOHDVH+DQGOHPHWKRG
H[HFXWHGFRUUHFWO\+RZHYHULIWKH+DQGOHSURSHUW\VWLOOFRQWDLQVWKHK:QGYDOXHRIWKH
:LQ)RUPWKHPHWKRGGLGQRWH[HFXWHFRUUHFWO\7KHFRGHWRUHPRYHWKHVXEFODVVLQJDQG
FKHFNWKH+DQGOHYDOXHLVDVIROORZV
VF5HOHDVH+DQGOH
,IVF+DQGOH 7KHQ
([HFXWHG&RUUHFWO\
(OVH
'LGQRWH[HFXWHFRUUHFWO\ (QG,I
FRGLQJWKH1DWLYH:LQGRZREMHFW V2Q+DQGOH&KDQJHHYHQWSURFHGXUH7KLVHYHQWLVFDOOHG
ZKHQHYHUWKH+DQGOHSURSHUW\RIWKH1DWLYH:LQGRZFODVVLQVWDQFHLVPRGLILHG,QWKLVHYHQW
SURFHGXUH\RXFDQFKHFNWKHYDOXHRIWKH1DWLYH:LQGRZ+DQGOHSURSHUW\WRGHWHUPLQH
ZKHWKHUWKH:LQ)RUPLVVXEFODVVHG,IWKH+DQGOHSURSHUW\LV]HURWKH1DWLYH:LQGRZLVQRW
VXEFODVVHGRWKHUZLVHLWLV
7RVXEFODVVWKH:LQ)RUPLQRXUDSSOLFDWLRQZHZLOOFDOOWKH$VVLJQ+DQGOHPHWKRGLQWKH
6XEFODVVEXWWRQ V&OLFNHYHQW7RUHPRYHWKHVXEFODVVLQJZHZLOOFDOOWKH5HOHDVH+DQGOH
PHWKRGLQWKH8Q6XEFODVVEXWWRQ V&OLFNHYHQW
$VDQRWHWKH1DWLYH:LQGRZFODVVKDVWZRPHWKRGV&UHDWH+DQGOHDQG'HVWUR\+DQGOHWKDW
\RXVKRXOGQRWXVHZKHQVXEFODVVLQJ7KH'HVWUR\+DQGOHPHWKRGVHWVWKH+DQGOHSURSHUW\
RIWKH1DWLYH:LQGRZFODVVWR]HURDQGSURFHHGVZLWKVKXWWLQJGRZQWKHZLQGRZ$IWHUWKH
ZLQGRZLVVKXWGRZQLWLVHOLJLEOHIRUJDUEDJHFROOHFWLRQ7KH&UHDWH+DQGOHPHWKRGFUHDWHVD
QHZZLQGRZIURPDQH[LVWLQJZLQGRZFODVV
,WLVLQWHUHVWLQJWRQRWHWKDWZKHQ\RXXVHWKLVVXEFODVVLQJWHFKQLTXHLQWDQGHPZLWKWKHILUVW
VXEFODVVLQJWHFKQLTXHWKH\ZLOOHDFKLQWHUFHSWPHVVDJHVVHQWWRWKH:LQ)RUP7KHUHIRUH
\RXFDQRYHUULGHWKH)RUPFODVV V:QG3URFPHWKRGDVZHOODVELQGWKH)RUPWRD
1DWLYH:LQGRZFODVVDQGRYHUULGHLWV:QG3URFPHWKRG7KLVLQHIIHFWVXEFODVVHVWKH
:LQ)RUPWZLFH,I\RXQHHGWRVXEFODVVWKH:LQ)RUPWZLFHWKLVLVWKHZD\WRGRLWEHFDXVH
WKHV\VWHPDXWRPDWLFDOO\WDNHVFDUHRIUHPRYLQJERWKVXEFODVVHGZLQGRZSURFHGXUHVDQG
UHSODFLQJWKH:LQ)RUP VRULJLQDOZLQGRZSURFHGXUHEHIRUHWKHZLQGRZLVGHVWUR\HG7R
VXEFODVVWKH:LQ)RUPWZLFHDGGWRWKH)RUPFODVVWKHIROORZLQJFRGHIURP7HFKQLTXH
3URWHFWHG2YHUULGHV6XE:QG3URF%\5HIP$V0HVVDJH 3ODFHVXEFODVVLQJFRGHKHUH
0\%DVH:QG3URFP
(QG6XE
$UHDOO\QLFHVLGHEHQHILWRIXVLQJWKLVWHFKQLTXHLVWKDWLI\RXIDLOWRXQVXEFODVVWKH:LQ)RUP
\RXUDSSOLFDWLRQZLOOQRWFUDVK)DLOLQJWRXQVXEFODVVDIRUPEHIRUHLWZDVGHVWUR\HGLQD
SUHYLRXVYHUVLRQRI9%ZRXOGFDXVH\RXUDSSOLFDWLRQWRVXIIHUD*HQHUDO3URWHFWLRQ)DXOW
*3) 7KHV\VWHPWDNHVFDUHRIDQ\FOHDQXSWKDWLVUHTXLUHGRIDVXEFODVVHG:LQ)RUP
EHIRUHLWLVGHVWUR\HG
7KHDSSOLFDWLRQ
7KLVDSSOLFDWLRQRSHUDWHVVLPLODUO\WRWKHH[DPSOHSUHVHQWHGLQWKHVHFWLRQHQWLWOHG
7HFKQLTXHZLWKRQHH[FHSWLRQ6XEFODVVDQG8Q6XEFODVVEXWWRQVDUHDGGHGWRWKHIRUP
)LJXUHVKRZVWKHDSSOLFDWLRQ
7KLVDSSOLFDWLRQZLOOSODFHWKHVDPHPHVVDJHXVHGLQWKH7HFKQLTXHH[DPSOHLQWKHWH[W ER[ZKHQHYHUWKHULJKWPRXVHEXWWRQLVFOLFNHGRQWKHIRUP VFOLHQWDUHD7KHGLIIHUHQFHLV
WKDW\RXPXVWFOLFNWKH6XEFODVVEXWWRQWRVXEFODVVWKH:LQ)RUPDQGLQWHUFHSWWKH
:0B5%87721'2:1PHVVDJH:KHQ\RXFOLFNWKH8Q6XEFODVVEXWWRQWKHVXEFODVVLQJLV
UHPRYHGDQGWKH:LQ)RUPZLOOQRORQJHUEHDEOHWRLQWHUFHSWWKH:0B5%87721'2:1 PHVVDJH
7DEOHOLVWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV 7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
&DSWLRQ
9%1(76XEFODVVLQJ([DPSOH
)RUP
+HLJKW
)RUP
:LGWK
7H[W%R[
0XOWLOLQH
7UXH
7H[W%R[
6FUROOEDUV
7UXH
7H[W%R[
:RUG:UDS
)DOVH
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
%XWWRQ
&DSWLRQ
6XE&ODVV
%XWWRQ
7RS
%XWWRQ
/HIW
%XWWRQ
+HLJKW
%XWWRQ
:LGWK
%XWWRQ
&DSWLRQ
8Q6XE&ODVV
%XWWRQ
7RS
%XWWRQ
/HIW
%XWWRQ
+HLJKW
%XWWRQ
:LGWK
)LJXUH7KHDSSOLFDWLRQXVLQJWKHVHFRQGWHFKQLTXHRIVXEFODVVLQJ
7KH9%ILOH
([DPSOHSUHVHQWVWKHFRGHIRUWKLVWHFKQLTXH7KHFRGHDGGHGWRVXEFODVVWKH
:LQ)RUPLVKLJKOLJKWHG
([DPSOH7KH)RUPYE)LOH8VLQJ6XEFODVVLQJ7HFKQLTXH ,PSRUWV6\VWHP&RPSRQHQW0RGHO
,PSRUWV6\VWHP'UDZLQJ
,PSRUWV6\VWHP:LQ)RUPV
3XEOLF&ODVV)RUP
,QKHULWV6\VWHP:LQ)RUPV)RUP
3ULYDWH'LPVF$V1HZ0\6XE&ODVV
3XEOLF6XE1HZ 0\%DVH1HZ )RUP 0H
,QLWLDOL]H&RPSRQHQW
VF6HW5HI7R)RUP0H (QG6XE
)RUPRYHUULGHVGLVSRVHWRFOHDQXSWKHFRPSRQHQWOLVW
3XEOLF2YHUULGHV6XE'LVSRVH 0\%DVH'LVSRVH
FRPSRQHQWV'LVSRVH (QG6XE
5HJLRQ:LQGRZV)RUP'HVLJQHUJHQHUDWHGFRGH
5HTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
3ULYDWHFRPSRQHQWV$V6\VWHP&RPSRQHQW0RGHO&RQWDLQHU
3ULYDWH:LWK(YHQWV7H[W%R[$V6\VWHP:LQ)RUPV7H[W%R[ 3ULYDWH:LWK(YHQWV%XWWRQ$V6\VWHP:LQ)RUPV%XWWRQ 3ULYDWH:LWK(YHQWV%XWWRQ$V6\VWHP:LQ)RUPV%XWWRQ
'LP:LWK(YHQWV)RUP$V6\VWHP:LQ)RUPV)RUP
127(7KHIROORZLQJSURFHGXUHLVUHTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
,WFDQEHPRGLILHGXVLQJWKH:LQGRZV)RUP'HVLJQHU 'RQRWPRGLI\LWXVLQJWKHFRGHHGLWRU 3ULYDWH6XE,QLWLDOL]H&RPSRQHQW
0HFRPSRQHQWV 1HZ6\VWHP&RPSRQHQW0RGHO&RQWDLQHU 0H%XWWRQ 1HZ6\VWHP:LQ)RUPV%XWWRQ 0H%XWWRQ 1HZ6\VWHP:LQ)RUPV%XWWRQ
0H7H[W%R[ 1HZ6\VWHP:LQ)RUPV7H[W%R[
#GHVLJQ0H7UD\+HLJKW
#GHVLJQ0H7UD\/DUJH,FRQ )DOVH
#GHVLJQ0H7UD\$XWR$UUDQJH 7UXH
%XWWRQ/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
%XWWRQ6L]H 1HZ6\VWHP'UDZLQJ6L]H %XWWRQ7DE,QGH[
%XWWRQ7H[W 6XEFODVV
%XWWRQ/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
%XWWRQ6L]H 1HZ6\VWHP'UDZLQJ6L]H %XWWRQ7DE,QGH[
%XWWRQ7H[W 8Q6XEFODVV
7H[W%R[/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
7H[W%R[0XOWLOLQH 7UXH
7H[W%R[6FUROO%DUV 6\VWHP:LQ)RUPV6FUROO%DUV%RWK 7H[W%R[:RUG:UDS )DOVH
7H[W%R[7DE,QGH[
7H[W%R[6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H7H[W 9%1(76XEFODVVLQJ([DPSOH
0H$XWR6FDOH%DVH6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&OLHQW6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&RQWUROV$GG7H[W%R[ 0H&RQWUROV$GG%XWWRQ 0H&RQWUROV$GG%XWWRQ (QG6XE
(QG5HJLRQ
68%&/$667(&+1,48(
3URWHFWHG6XE%XWWRQB&OLFN%\9DOVHQGHU$V2EMHFWB
%\9DOH$V6\VWHP(YHQW$UJV
,IVF+DQGOH 7KHQ
VF$VVLJQ+DQGOH0H+DQGOH
(OVH
PVJER['RQ WWU\WRVXEFODVVWKLVZLQGRZPRUHWKDQRQFH (QG,I
(QG6XE
3URWHFWHG6XE%XWWRQB&OLFN%\9DOVHQGHU$V2EMHFWB %\9DOH$V6\VWHP(YHQW$UJV
VF5HOHDVH+DQGOH
7KHVF+DQGOHSURSHUW\UHYHUWVEDFNWR
(QG6XE
3XEOLF&ODVV0\6XEFODVV ,QKHULWV1DWLYH:LQGRZ
'LPPB0DLQ:LQGRZ$V)RUP
3XEOLF6XE6HW5HI7R)RUP%\9DO0DLQ:LQGRZ$V)RUP
PB0DLQ:LQGRZ 0DLQ:LQGRZ (QG6XE
3URWHFWHG2YHUULGHV6XE:QG3URF%\5HIP$V0HVVDJH
,IPPVJ PLFURVRIW:LQ,QWHURSZLQ:0B5%87721'2:17KHQ
PB0DLQ:LQGRZWH[WER[7H[W PB0DLQ:LQGRZWH[WER[7H[W B 7KHULJKWPRXVHEXWWRQZDVSUHVVHG0HVVDJH,' B
PPVJ7R6WULQJ FKU FKU
(QG,I
0\%DVH:QG3URFP (QG6XE
3URWHFWHG2YHUULGHV6XE2Q+DQGOH&KDQJH PVJER[+DQGOHKDVFKDQJHG
(QG6XE (QG&ODVV (QG&ODVV
7KH0\6XEFODVVSXEOLFFODVVLVDGGHGDWWKHERWWRPRIWKLVH[DPSOHFRGHDQGLQKHULWVIURP WKH1DWLYH:LQGRZFODVV,WLVLQVWDQWLDWHGDVDSULYDWHILHOGLQWKH)RUPFODVV:KHQWKH
)RUPFODVVFRQVWUXFWRULVFDOOHGD0HUHIHUHQFHWR)RUPLVSDVVHGLQWRWKH6HW5HI7R)RUP
PHWKRGLQWKH0\6XEFODVVFODVV7KLVUHIHUHQFHDOORZVWH[WWREHZULWWHQWRWKHWH[WER[
FRQWDLQHGLQ)RUPIURPWKHLQVWDQFHRIWKH0\6XEFODVVFODVV8QOLNHLQSUHYLRXVYHUVLRQVRI
9%FRQWUROVDUHQRZSULYDWHWR)RUPFODVVHV7KHUHIRUH\RXQHHGDPHFKDQLVPVXFKDVWKLV
WRZULWHWH[WWRDWH[WER[IURPRXWVLGHWKH)RUPFODVV
7KHFRGHLQWKHRYHUULGGHQ:QG3URFPHWKRGRI0\6XEFODVVLVDOPRVWLGHQWLFDOWRWKH
RYHUULGGHQ:QG3URFPHWKRGLQWKH7HFKQLTXHH[DPSOH
7KHSURWHFWHGRYHUULGGHQPHWKRG2Q+DQGOH&KDQJHLVDQHYHQWKDQGOHUWKDWLVILUHG
ZKHQHYHUWKHKDQGOHWRWKH)RUPZLQGRZLVPRGLILHG7KLVPHWKRGVLPSO\GLVSOD\VD
PHVVDJHER[LQGLFDWLQJWKDWWKHKDQGOHKDVFKDQJHG
:KHQWKH6XEFODVVEXWWRQLVFOLFNHGWKH%XWWRQB&OLFNHYHQWLVILUHG7KLVHYHQWGHWHUPLQHV
ZKHWKHUDKDQGOHKDVEHHQDVVLJQHGWRWKHLQVWDQFHRI0\6XEFODVVLQGLFDWLQJWKDWWKHIRUP
LVVXEFODVVHG,IDKDQGOHKDVQRWEHHQDVVLJQHGWKH$VVLJQ+DQGOHPHWKRGRIWKH
0\6XEFODVVFODVVLVFDOOHGWRDVVLJQ)RUP VKDQGOHWRWKH0\6XEFODVVLQVWDQFH
+RZHYHULIDKDQGOHLVDOUHDG\DVVLJQHGDQGWKHXVHUFOLFNVWKH6XEFODVVEXWWRQDVHFRQG
WLPHEHIRUHFOLFNLQJWKH8Q6XEFODVVEXWWRQDPHVVDJHLVGLVSOD\HGLQGLFDWLQJWKDWWKH)RUP
IRUPFDQQRWEHVXEFODVVHGDVHFRQGWLPH7U\LQJWRDVVLJQDQHZKDQGOHWRDQLQVWDQFHRI
WKH1DWLYH:LQGRZFODVVWKDWKDVDKDQGOHDVVLJQHGWRLWLVVLPLODUWRWKHSUREOHPLQ9%RI
VXEFODVVLQJDIRUPWZLFH7RVXEFODVVDIRUPPRUHWKDQRQFH\RXPXVWNHHSWUDFNRIDOOWKH
SRLQWHUVWRWKHSUHYLRXVZLQGRZSURFHGXUHV8QIRUWXQDWHO\WKH1(7IUDPHZRUNKLGHVWKH
ZLQGRZSURFHGXUHSRLQWHUVTXLWHZHOOZKLFKPDNHVLWGLIILFXOWDWEHVWWRNHHSWUDFNRIWKH
SUHYLRXVZLQGRZSURFHGXUHSRLQWHUV7KH1(7IUDPHZRUNSUHYHQWVVXEFODVVLQJWKHIRUP
PRUHWKDQRQFHE\WKURZLQJD6\VWHP([FHSWLRQHUURULQGLFDWLQJWKDWWKHFDOOWR
$VVLJQ+DQGOHIDLOHG
:KLOHWKH:LQ)RUPLVVXEFODVVHGDOOPHVVDJHVVHQWWRLWDUHURXWHGILUVWWKURXJKWKH
0\6XE&ODVVREMHFW V:QG3URF$IWHUWKLVIXQFWLRQLVILQLVKHGSURFHVVLQJWKHPHVVDJHLW
SDVVHVWKHPHVVDJHRQWRWKHIRUP VZLQGRZSURFHGXUHWKURXJKWKHXVHRIWKH0\%DVH
NH\ZRUG
:KHQWKHXVHUFOLFNVWKH8Q6XEFODVVEXWWRQWKH%XWWRQB&OLFNHYHQWLVILUHG7KLVHYHQW
VLPSO\FDOOVWKH0\6XEFODVVFODVV V5HOHDVH+DQGOHPHWKRGZKLFKUHOHDVHVWKHKDQGOH
DVVLJQHGWRWKH0\6XEFODVVLQVWDQFHDQGUHVHWVLWEDFNWR]HUR
7HFKQLTXH7KH,0HVVDJH)LOWHU,QWHUIDFH $WKLUGWHFKQLTXHWRVXEFODVVD:LQ)RUPXVHVWKH,0HVVDJH)LOWHULQWHUIDFH7KLVWHFKQLTXH
ZLOOQRWDFWXDOO\FUHDWHDVXEFODVVZLQGRZSURFHGXUHWKDWLVSODFHGEHIRUHWKHRULJLQDOZLQGRZ
SURFHGXUH,QVWHDGLWDGGVDIXQFWLRQWRWKHPHVVDJHORRSZKLFKLQWHUFHSWVHDFKPHVVDJH EHIRUHLWLVGLVSDWFKHGWRLWVGHVWLQDWLRQZLQGRZSURFHGXUH$VXEFODVVZLQGRZSURFHGXUH
ZRXOGLQWHUFHSWWKHPHVVDJHDIWHULWKDVEHHQGLVSDWFKHGWRLWVGHVWLQDWLRQZLQGRZEXWEHIRUH
WKDWZLQGRZ VRULJLQDOZLQGRZSURFHGXUHKDVDFKDQFHWRSURFHVVWKHPHVVDJH7KHUHIRUHE\
XVLQJWKLVWHFKQLTXHZHFDQLQWHUFHSWDOOPHVVDJHVVHQWWRDOOZLQGRZVWKDWH[LVWZLWKLQD
VLQJOHWKUHDG7KLVFDQEHDSRZHUIXOWHFKQLTXHEXWEHDZDUHWKDW\RXZLOOEHLQWHUFHSWLQJIDU
PRUHPHVVDJHVWKDQDVLQJOHVXEFODVVZLQGRZSURFHGXUHZRXOG7KLVFDQGHJUDGHV\VWHP
DQGDSSOLFDWLRQSHUIRUPDQFHGUDVWLFDOO\7RRIIVHWWKHSHUIRUPDQFHKLW\RXDUHWDNLQJE\XVLQJ
WKLVWHFKQLTXH\RXVKRXOGGRDVOLWWOHZRUNDVSRVVLEOHLQWKHIXQFWLRQWKDWZLOOEHLQVHUWHGLQWR
WKHPHVVDJHORRSDVZHOODVH[LWWKLVIXQFWLRQDVVRRQDVSRVVLEOH
7KLVWHFKQLTXHLVVLPLODULQVWUXFWXUHWR7HFKQLTXH,QWKLVWHFKQLTXHDQHZFODVVLV
FUHDWHGWKDWLPSOHPHQWVWKH,0HVVDJH)LOWHULQWHUIDFH7KLVFODVVPXVWFRQWDLQDPHWKRG
FDOOHG3UH)LOWHU0HVVDJHZKLFKLVVLPLODUWRDVXEFODVVZLQGRZSURFHGXUH7KLVLVWKHPHWKRG
WKDWZLOOEHSODFHGLQVLGHWKHPHVVDJHORRSRIWKHWKUHDGLQZKLFKWKLVZLQGRZUHVLGHV7KH
GHFODUDWLRQRIWKH3UH)LOWHU0HVVDJHPHWKRGLVVLPLODUWRWKDWRIWKH:QG3URFPHWKRGDQGLV
DVIROORZV
>9%@
3XEOLF)XQFWLRQ3UH)LOWHU0HVVDJH%\9DOP$V0HVVDJH $V%RROHDQB
,PSOHPHQWV6\VWHP:LQ)RUPV,0HVVDJH)LOWHU3UH)LOWHU0HVVDJH
7KHRQHGLIIHUHQFHEHWZHHQWKLVPHWKRGDQGWKH:QG3URFPHWKRGLVWKDWWKLVPHWKRGUHWXUQV
D%RROHDQYDOXH,IWKLVPHWKRGUHWXUQVD)DOVHWKHPHVVDJHLVVHQWRQWRWKHRULJLQDOZLQGRZ
SURFHGXUH+RZHYHULILWUHWXUQVD7UXHWKHPHVVDJHLVGLVFDUGHGDQGQHYHUVHQWRQWRWKH
RULJLQDOZLQGRZSURFHGXUH
7RLQWHUFHSWPHVVDJHVEHIRUHWKH\DUHGLVSDWFKHGWRD:LQ)RUPDQGLWVFRQWUROV\RXPXVW
LQVWDQWLDWHDQLQVWDQFHRIWKHFODVVWKDWLPSOHPHQWVWKH,0HVVDJH)LOWHULQWHUIDFH7KH
IROORZLQJFRGHIUDJPHQWGRHVWKLV
3ULYDWH0\0VJ)LOWHU$V1HZ7HVW0HVVDJH)LOWHU
1RZWKDWZHKDYHDQLQVWDQFHRIWKH0\0VJ)LOWHUFODVVZHFDQSDVVLWLQWRWKH
$GG0HVVDJH)LOWHUPHWKRGRIWKH$SSOLFDWLRQFODVVWRVXEFODVVWKH:LQ)RUP7KH
$GG0HVVDJH)LOWHUPHWKRGLVGHFODUHGDVIROORZV
3XEOLF6KDUHG6XE$GG0HVVDJH)LOWHU%\9DOYDOXH$6,0HVVDJH)LOWHU
7KLVPHWKRGLVGHFODUHGDVVWDWLFZKLFKLQ9%1(7LVD6KDUHGPHWKRG7KLVPHWKRGDOVR
WDNHVDSDUDPHWHURIW\SH,0HVVDJH)LOWHU7KHFRGHWRFDOOWKH$GG0HVVDJH)LOWHUPHWKRGLV
DVIROORZV
$SSOLFDWLRQ$GG0HVVDJH)LOWHU0\0VJ)LOWHU
7KHUHLVDFRPSOHPHQWDU\PHWKRGWR$GG0HVVDJH)LOWHUFDOOHG5HPRYH0HVVDJH)LOWHU7KLV
PHWKRGLVGHFODUHGDVIROORZV
3XEOLF6KDUHG6XE5HPRYH0HVVDJH)LOWHU%\9DOYDOXH$V,0HVVDJH)LOWHU
7KLVPHWKRGDOVRWDNHVSDUDPHWHURIW\SH,0HVVDJH)LOWHU7RUHPRYHRXUSURFHGXUHIURPWKH
PHVVDJHORRSZHVLPSO\FDOO5HPRYH0HVVDJH)LOWHUDVIROORZV $SSOLFDWLRQ5HPRYH0HVVDJH)LOWHU0\0VJ)LOWHU 7KHDSSOLFDWLRQ
7KHDSSOLFDWLRQIRUWKLVWHFKQLTXHLVVLPSOH7KHRQO\FRQWURORQWKHIRUPLVDWH[WER[DV
)LJXUHVKRZV7DEOHOLVWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGWKHWH[WER[
FRQWURO
7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
&DSWLRQ
&6XEFODVVLQJ([DPSOH
)RUP
+HLJKW
)RUP
:LGWK
7H[W%R[
0XOWLOLQH
7UXH
7H[W%R[
6FUROOEDUV
7UXH
7H[W%R[
:RUG:UDS
)DOVH
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
7KH3UH)LOWHU0HVVDJHPHWKRGZDWFKHVIRUWKHOHIWPRXVHEXWWRQWREHSUHVVHGZKLOHWKH
PRXVHLVRYHUWKHFOLHQWDUHDRIWKHIRUP$VZHPHQWLRQHGHDUOLHUWKLVPHWKRGFDQQRWVHH
PHVVDJHVWKDWDUHVHQWWRQRQFOLHQWDUHDVRIWKHIRUP :KHQWKHXVHUFOLFNVWKHULJKWPRXVH
EXWWRQRYHUWKHFOLHQWDUHDRIWKHIRUPRUWKHWH[WER[DPHVVDJHLVSODFHGLQWKHWH[WER[
LQGLFDWLQJWKDWWKHULJKWPRXVHEXWWRQZDVFOLFNHG
)LJXUH7KH&DSSOLFDWLRQXVLQJWKHWKLUGWHFKQLTXHRIVXEFODVVLQJ
7KLVDSSOLFDWLRQLVYHU\VLPLODUWRWKHRQHFUHDWHGLQWKH6HFWLRQVHFWLRQ:KHQWKH
XVHUFOLFNVWKHULJKWPRXVHEXWWRQRYHUWKH:LQ)RUP VFOLHQWDUHDDPHVVDJHLVZULWWHQWRWKH
WH[WER[LQGLFDWLQJWKDWWKHULJKWPRXVHEXWWRQZDVFOLFNHG7KHGLIIHUHQFHEHWZHHQWKLV
H[DPSOHDQG([DPSOHLVWKDWZKHQ\RXFOLFNWKHULJKWPRXVHEXWWRQLQWKHWH[WER[
FRQWUROWKH3UH)LOWHU0HVVDJHPHWKRGZLOOLQWHUFHSWWKDWPHVVDJHDVZHOO7KHUHIRUHXVLQJ
WKH3UH)LOWHU0HVVDJHWHFKQLTXHRIVXEFODVVLQJDOORZVXVWRLQWHUFHSWPHVVDJHVIRUQRWRQO\
DOO:LQ)RUPVZLWKLQDWKUHDGEXWDOVRDOOFRQWUROVRQHDFK:LQ)RUP2QWKHRWKHUKDQG
RYHUULGLQJWKH:QG3URFPHWKRGRIDSDUWLFXODU:LQ)RUPRQO\DOORZVXVWRLQWHUFHSWPHVVDJHV
GLUHFWHGWRWKDW:LQ)RUP 7KH9%ILOH
([DPSOHSUHVHQWVWKH9%FRGHIRUWKLVWHFKQLTXH7KHFRGHDGGHGWRVXEFODVVWKH
:LQ)RUPDSSHDUVLQEROGIDFH
([DPSOH7KH)RUPYE)LOH8VLQJ6XEFODVVLQJ7HFKQLTXH ,PSRUWV6\VWHP
,PSRUWV6\VWHP&RPSRQHQW0RGHO
,PSRUWV6\VWHP'UDZLQJ
,PSRUWV6\VWHP:LQ)RUPV
3XEOLF&ODVV)RUP
,QKHULWV6\VWHP:LQ)RUPV)RUP
3ULYDWHP\0VJ)LOWHU$V1HZ7HVW0HVVDJH)LOWHU
3XEOLF6XE1HZ 0\%DVH1HZ )RUP 0H
,QLWLDOL]H&RPSRQHQW
P\0VJ)LOWHU6HW5HI7R7H[W%R[0H
68%&/$66,1*7(&+1,48(
6\VWHP:LQ)RUPV$SSOLFDWLRQ$GG0HVVDJH)LOWHUP\0VJ)LOWHU
(QG6XE
3XEOLF6XE:ULWH7R7H[W%R[%\9DO0HVVDJH$V6WULQJ
7H[W%R[7H[W 0HVVDJHFKU FKU (QG6XE
)RUPRYHUULGHVGLVSRVHWRFOHDQXSWKHFRPSRQHQWOLVW
3XEOLF2YHUULGHV6XE'LVSRVH
0\%DVH'LVSRVH
FRPSRQHQWV'LVSRVH (QG6XE
5HJLRQ:LQGRZV)RUP'HVLJQHUJHQHUDWHGFRGH
5HTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
3ULYDWHFRPSRQHQWV$V6\VWHP&RPSRQHQW0RGHO&RQWDLQHU
3ULYDWH:LWK(YHQWV7H[W%R[$V6\VWHP:LQ)RUPV7H[W%R[
'LP:LWK(YHQWV)RUP$V6\VWHP:LQ)RUPV)RUP
127(7KHIROORZLQJSURFHGXUHLVUHTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
,WFDQEHPRGLILHGXVLQJWKH:LQGRZV)RUP'HVLJQHU 'RQRWPRGLI\LWXVLQJWKHFRGHHGLWRU 3ULYDWH6XE,QLWLDOL]H&RPSRQHQW
0HFRPSRQHQWV 1HZ6\VWHP&RPSRQHQW0RGHO&RQWDLQHU 0H7H[W%R[ 1HZ6\VWHP:LQ)RUPV7H[W%R[
#GHVLJQ0H7UD\+HLJKW
#GHVLJQ0H7UD\/DUJH,FRQ )DOVH
#GHVLJQ0H7UD\$XWR$UUDQJH 7UXH
7H[W%R[/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
7H[W%R[0XOWLOLQH 7UXH
7H[W%R[6FUROO%DUV 6\VWHP:LQ)RUPV6FUROO%DUV%RWK 7H[W%R[:RUG:UDS )DOVH
7H[W%R[7DE,QGH[
7H[W%R[6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H7H[W 9%1(76XEFODVVLQJ([DPSOH
0H$XWR6FDOH%DVH6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&OLHQW6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&RQWUROV$GG7H[W%R[ (QG6XE
(QG5HJLRQ
(QG&ODVV
68%&/$66,1*7(&+1,48(&217,18('
3XEOLF&ODVV7HVW0HVVDJH)LOWHU
,PSOHPHQWV6\VWHP:LQ)RUPV,0HVVDJH)LOWHU
'LPPB0DLQ:LQGRZ$V)RUP
3XEOLF6XE6HW5HI7R7H[W%R[%\9DO0DLQ:LQGRZ$V)RUP
PB0DLQ:LQGRZ 0DLQ:LQGRZ (QG6XE
3XEOLF&RQVW:0B5%87721'2:1 +
)XQFWLRQ3UH)LOWHU0HVVDJH%\5HIP$V6\VWHP:LQ)RUPV0HVVDJH $V%RROHDQB
,PSOHPHQWV6\VWHP:LQ)RUPV,0HVVDJH)LOWHU3UH)LOWHU0HVVDJH ,IPPVJ :0B5%87721'2:17KHQ
PB0DLQ:LQGRZ:ULWH7R7H[W%R[3UH)LOWHU0HVVDJH5%87721'2:1 (QG,I
3UH)LOWHU0HVVDJH )DOVH (QG)XQFWLRQ
(QG&ODVV
7KH0\0VJ)LOWHUYDULDEOHLVGHFODUHGDVDSULYDWHILHOGWRWKH)RUP:LQ)RUP7KLVYDULDEOHLV
RIW\SH7HVW0HVVDJH)LOWHUDFODVVGHFODUHGDWWKHERWWRPRIWKHFRGHH[DPSOH,QWKH
FRQVWUXFWRURI)RUPDQHZLQVWDQFHRI0\0VJ)LOWHULVFUHDWHGDQGD0HSRLQWHULVVHQWWRLWV
FRQVWUXFWRU0\0VJ)LOWHUVWRUHVWKH0HSRLQWHUDVDUHIHUHQFHEDFNWRWKH)RUP:LQ)RUPVR
WKDWLWFDQZULWHWH[WLQWRWKHWH[WER[WKDWUHVLGHVRQ)RUP
$IWHUWKH0\0VJ)LOWHULQVWDQFHLVFUHDWHGLQWKHFRQVWUXFWRUWKHVKDUHG
$SSOLFDWLRQ$GG0HVVDJH)LOWHUPHWKRGLVFDOOHGWRSODFHWKH0\0VJ)LOWHU3UH)LOWHU0HVVDJH
PHWKRGLQWKHPHVVDJHORRSULJKWEHIRUHWKHPHVVDJHLVGLVSDWFKHG
7KH3UH)LOWHU0HVVDJHPHWKRGLQWKH7HVW0HVVDJH)LOWHUFODVVFRQWDLQVFRGHWKDWZDWFKHVIRU
WKH:0B5%87721'2:1PHVVDJHLQWKHPHVVDJHORRS:KHQLWILQGVWKLVPHVVDJHLW
GLVSOD\VDPHVVDJHLQWKHWH[WER[RQ)RUPZLWKWKHIROORZLQJWH[W3UH)LOWHU0HVVDJH
5%87721'2:17KHUHWXUQYDOXHRIWKLVPHWKRGLV)DOVHDOORZLQJWKHPHVVDJHORRSWR
GLVSDWFKWKHPHVVDJH,IWKHUHWXUQYDOXHZHUHVHWWR7UXHWKHPHVVDJHZRXOGQRWEH
GLVSDWFKHG
6XEFODVVLQJD&RQWURO /LNH:LQ)RUPVXEFODVVLQJFRQWUROVXEFODVVLQJLVPXFKHDVLHULQ9%1(7,QIDFWWRVXEFODVV
DFRQWUROZHFDQWDNHWKHH[DPSOHDSSOLFDWLRQSUHVHQWHGLQWKH6HFWLRQVHFWLRQDQG
FKDQJHRQHOLQHRIFRGH7RVXEFODVVDFRQWURODOO\RXKDYHWRGRLVDVVLJQLWV+DQGOH
SURSHUW\YDOXHWRDFODVVWKDWLQKHULWVIURPWKH1DWLYH:LQGRZFODVV7KLVVXEFODVVZLOOFRQWDLQ
DQRYHUULGGHQLPSOHPHQWDWLRQRIWKH:QG3URFPHWKRGZKLFKFRQWDLQVWKHDFWXDOVXEFODVVLQJ
FRGH
7KHDSSOLFDWLRQ 7KHDSSOLFDWLRQSUHVHQWHGLQWKLVVHFWLRQLVH[DFWO\WKHVDPHDVWKHRQHSUHVHQWHGLQWKH
6HFWLRQVHFWLRQ7KHRQO\GLIIHUHQFHVDUHWKDWWKHZLQGRZFDSWLRQKDVFKDQJHGWR
9%1(7&RQWURO6XEFODVVLQJ([DPSOHDQGRQHOLQHRIFRGHDOVRKDVFKDQJHG,ZLOOGLVFXVV
WKHFRGHPRGLILFDWLRQVKRUWO\)LJXUHSUHVHQWVDVFUHHQVKRWRIWKLVDSSOLFDWLRQ )LJXUH6XEFODVVLQJDWH[WER[FRQWURO
7KH9%ILOH
([DPSOHSUHVHQWVWKHFRGHIRUWKLVWHFKQLTXH7KHPRGLILHGFRGHDSSHDUVLQ EROGIDFH
([DPSOH7KH)RUPYE)LOH8VLQJWKH&RQWURO6XEFODVVLQJ7HFKQLTXH ,PSRUWV6\VWHP&RPSRQHQW0RGHO
,PSRUWV6\VWHP'UDZLQJ
,PSRUWV6\VWHP:LQ)RUPV
3XEOLF&ODVV)RUP
,QKHULWV6\VWHP:LQ)RUPV)RUP
'LPVF$V1HZ0\6XE&ODVV
3XEOLF6XE1HZ 0\%DVH1HZ )RUP 0H
,QLWLDOL]H&RPSRQHQW
VF6HW5HI7R7H[W%R[0H (QG6XE
)RUPRYHUULGHVGLVSRVHWRFOHDQXSWKHFRPSRQHQWOLVW
3XEOLF2YHUULGHV6XE'LVSRVH
0\%DVH'LVSRVH
FRPSRQHQWV'LVSRVH (QG6XE
5HJLRQ:LQGRZV)RUP'HVLJQHUJHQHUDWHGFRGH
5HTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
3ULYDWHFRPSRQHQWV$V6\VWHP&RPSRQHQW0RGHO&RQWDLQHU
3ULYDWH:LWK(YHQWV7H[W%R[$V6\VWHP:LQ)RUPV7H[W%R[ 3ULYDWH:LWK(YHQWV%XWWRQ$V6\VWHP:LQ)RUPV%XWWRQ 3ULYDWH:LWK(YHQWV%XWWRQ$V6\VWHP:LQ)RUPV%XWWRQ
'LP:LWK(YHQWV)RUP$V6\VWHP:LQ)RUPV)RUP
127(7KHIROORZLQJSURFHGXUHLVUHTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
,WFDQEHPRGLILHGXVLQJWKH:LQGRZV)RUP'HVLJQHU 'RQRWPRGLI\LWXVLQJWKHFRGHHGLWRU 3ULYDWH6XE,QLWLDOL]H&RPSRQHQW
0HFRPSRQHQWV 1HZ6\VWHP&RPSRQHQW0RGHO&RQWDLQHU 0H%XWWRQ 1HZ6\VWHP:LQ)RUPV%XWWRQ 0H%XWWRQ 1HZ6\VWHP:LQ)RUPV%XWWRQ
0H7H[W%R[ 1HZ6\VWHP:LQ)RUPV7H[W%R[
#GHVLJQ0H7UD\+HLJKW
#GHVLJQ0H7UD\/DUJH,FRQ )DOVH
#GHVLJQ0H7UD\$XWR$UUDQJH 7UXH
%XWWRQ/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
%XWWRQ6L]H 1HZ6\VWHP'UDZLQJ6L]H
%XWWRQ7DE,QGH[
%XWWRQ7H[W 6XEFODVV
%XWWRQ/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW %XWWRQ6L]H 1HZ6\VWHP'UDZLQJ6L]H %XWWRQ7DE,QGH[
%XWWRQ7H[W 8Q6XEFODVV
7H[W%R[/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
7H[W%R[0XOWLOLQH 7UXH
7H[W%R[6FUROO%DUV 6\VWHP:LQ)RUPV6FUROO%DUV%RWK 7H[W%R[:RUG:UDS )DOVH
7H[W%R[7DE,QGH[
7H[W%R[6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H7H[W 9%1(7&RQWURO6XEFODVVLQJ([DPSOH
0H$XWR6FDOH%DVH6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&OLHQW6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&RQWUROV$GG7H[W%R[ 0H&RQWUROV$GG%XWWRQ 0H&RQWUROV$GG%XWWRQ (QG6XE
(QG5HJLRQ
3URWHFWHG6XE%XWWRQB&OLFN%\9DOVHQGHU$V2EMHFW%\9DOH$V6\VWHP(YHQW$UJV ,IVF+DQGOH 7KHQ
VF$VVLJQ+DQGOH7H[W%R[+DQGOH
(OVH
PVJER['RQ WWU\WRVXEFODVVWKLVFRQWUROPRUHWKDQRQFH
(QG,I
(QG6XE
3URWHFWHG6XE%XWWRQB&OLFN%\9DOVHQGHU$V2EMHFW%\9DOH$V6\VWHP(YHQW$UJV VF5HOHDVH+DQGOH (QG6XE
3XEOLF&ODVV0\6XEFODVV
,QKHULWV1DWLYH:LQGRZ
'LPPB0DLQ:LQGRZ$V)RUP
3XEOLF6XE6HW5HI7R7H[W%R[%\9DO0DLQ:LQGRZ$V)RUP
PB0DLQ:LQGRZ 0DLQ:LQGRZ (QG6XE
3URWHFWHG2YHUULGHV6XE:QG3URF%\5HIP$V0HVVDJH
,IPPVJ PLFURVRIW:LQ,QWHURSZLQ:0B5%87721'2:17KHQ
PB0DLQ:LQGRZWH[WER[7H[W PB0DLQ:LQGRZWH[WER[7H[W B 7KHULJKWPRXVHEXWWRQZDVSUHVVHG0HVVDJH,' B PPVJ7R6WULQJ FKU FKU (QG,I
0\%DVH:QG3URFP (QG6XE
3URWHFWHG2YHUULGHV6XE2Q+DQGOH&KDQJH PVJER[&RQWURO+DQGOHKDVFKDQJHG
(QG6XE (QG&ODVV (QG&ODVV
7KHILUVWFRGHPRGLILFDWLRQFKDQJHVWKH:LQ)RUPFDSWLRQ7KHVHFRQGPRGLILFDWLRQZKLFKLV
ZKDWZHDUHUHDOO\LQWHUHVWHGLQLVWKHIROORZLQJOLQHRIFRGH
VF$VVLJQ+DQGOH7H[W%R[+DQGOH
%DVLFDOO\WKLVOLQHXVHVDKDQGOHWRELQGWKH7H[W%R[FRQWUROWRWKHLQVWDQFHRIWKH
0\6XEFODVVFODVVZKLFKLQKHULWVIURPWKH1DWLYH:LQGRZFODVV1RZZKHQHYHUDPHVVDJHLV
VHQWWRWKH7H[W%R[FRQWUROWKHRYHUULGGHQ:QG3URFPHWKRGLQWKH0\6XEFODVVFODVV
LQVWDQFHLQWHUFHSWVLW,QWKH:QG3URFPHWKRGZHZDWFKIRUWKH:0B5%87721'2:1
PHVVDJH:KHQHYHUWKLVPHVVDJHLVLQWHUFHSWHGZHGLVSOD\VRPHWH[WLQWKH7H[W%R[WH[W
ER[LQGLFDWLQJWKDWWKLVDFWLRQKDVRFFXUUHG
6XSHUFODVVLQJ 6XSHUFODVVLQJZDVLQWURGXFHGLQ&KDSWHU%DVLFDOO\VXSHUFODVVLQJLQYROYHVFUHDWLQJD
QHZEDVHFODVVRUVXSHUFODVVWKDWZHWKHQXVHWRFUHDWHRQHRUPRUHQHZVXSHUFODVVHG
ZLQGRZV(DFKVXSHUFODVVHGZLQGRZUHWDLQVWKHEDVHFODVV VSURSHUWLHVDQGZLQGRZ
SURFHGXUH7KLVDOORZVXVWRHDVLO\FUHDWHPDQ\ZLQGRZVWKDWORRNDQGRSHUDWHVLPLODUO\
'XHWRWKHREMHFWRULHQWHGQDWXUHRI:LQ)RUPVZHFDQHDVLO\SHUIRUPVXSHUFODVVLQJXVLQJ
9%1(7RUIRUWKDWPDWWHUDQ\RWKHU1(7ODQJXDJH7KHILUVWVWHSLVWRFUHDWHDZLQGRZWKDW
ZLOODFWDVRXUVXSHUFODVVDV([DPSOHVKRZV:HZLOOXVHWKLVVXSHUFODVVZLQGRZWR LQKHULWIURPDQGFUHDWHRXURZQZLQGRZDV([DPSOHVKRZV,WLVMXVWWKDWVLPSOH PRUHVRWKDQLPSOHPHQWLQJVXSHUFODVVLQJLQDSUHYLRXVYHUVLRQRI9%
7KHDSSOLFDWLRQ 7KHDSSOLFDWLRQWKDWZHZLOOEXLOGWRLPSOHPHQWVXSHUFODVVLQJFRQWDLQVWZR:LQ)RUPV7KH ILUVW:LQ)RUPFDOOHG)RUPLVWKHEDVHRUVXSHUFODVV:LQ)RUP7KHVHFRQG:LQ)RUP FDOOHG6XSHUFODVVB([LQKHULWVIURP)RUP
7KHFRGHIRU)RUPLVWDNHQIURPWKHDSSOLFDWLRQLQ([DPSOH7RWKLVFRGH,KDYH DGGHGDEXWWRQWKDWKDVWKHFDSWLRQ&UHDWH:QG:HZLOOXVHWKLVEXWWRQWRFUHDWHQHZ
ZLQGRZVIURPWKH6XSHUFODVVB([:LQ)RUP
7DEOHOLVWVWKHQRQGHIDXOWSURSHUWLHVRIWKHVXSHUFODVVIRUPDQGLWVFRQWUROV7DEOH OLVWVWKHQRQGHIDXOWSURSHUWLHVIRUWKH6XSHUFODVVB([:LQ)RUP7KLVIRUPGRHVQRW
FRQWDLQDQ\FRQWUROVDOOFRQWUROVDUHLQKHULWHGIURP)RUP
7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUP:LQ)IRUPDQG,WV&RQWUROV 2EMHFW
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
&DSWLRQ
9%1(76XEFODVVLQJ([DPSOH
)RUP
+HLJKW
)RUP
:LGWK
7H[W%R[
0XOWLOLQH
7UXH
7H[W%R[
6FUROOEDUV
7UXH
7H[W%R[
:RUG:UDS
)DOVH
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
%XWWRQ
&DSWLRQ
6XE&ODVV
%XWWRQ
7RS
%XWWRQ
/HIW
%XWWRQ
+HLJKW
%XWWRQ
:LGWK
%XWWRQ
&DSWLRQ
8Q6XE&ODVV
%XWWRQ
7RS
%XWWRQ
/HIW
%XWWRQ
+HLJKW
%XWWRQ
:LGWK
%XWWRQ
&DSWLRQ
&UHDWH:QG
%XWWRQ
7RS
%XWWRQ
/HIW
%XWWRQ
+HLJKW
%XWWRQ
:LGWK
7DEOH1RQGHIDXOW3URSHUWLHVRIWKH6XSHUFODVVB([:LQ)IRUPDQG,WV&RQWUROV ,WHP
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
&DSWLRQ
6XSHUFODVVB([
)RUP
&RORU
%LVTXH
7RXVHWKLVDSSOLFDWLRQVLPSO\FOLFNWKH&UHDWH:QGEXWWRQVHYHUDOWLPHV7KLVDFWLRQZLOO
FDXVHRQH6XSHUFODVVB([IRUPWREHFUHDWHGDQGGLVSOD\HGIRUHDFKEXWWRQFOLFN)LJXUH
VKRZVWKHDSSOLFDWLRQZLWKWKUHH6XSHUFODVVB([ZLQGRZV
)LJXUH7KHVXSHUFODVVLQJH[DPSOHDSSOLFDWLRQ
1RWLFHWKDWHDFK6XSHUFODVVB([:LQ)RUPWDNHVRQWKHFKDUDFWHULVWLFVRILWVVXSHUFODVV
:LQ)RUP)RUP,QWKH6XSHUFODVVB([:LQ)RUPWKHEDFNJURXQGFRORUKDVEHHQRYHUULGGHQ
WRGLVSOD\DV%LVTXH7KH6XEFODVVDQG8Q6XEFODVVEXWWRQVZRUNLQGHSHQGHQWO\RIHDFK
RWKHU7KDWLV\RXFDQFOLFNWKH6XEFODVVEXWWRQRIRQH:LQ)RUPDQGRQO\WKDW:LQ)RUPLV
VXEFODVVHG$OORWKHU:LQ)RUPVUHPDLQLQWKHLUSUHYLRXVVWDWH$OVRLI\RXFORVHWKH)RUP
:LQ)RUPZKLFKLVWKHVXSHUFODVV:LQ)RUPDOORWKHUIRUPVWKDWLQKHULWIURPWKDWIRUPDOVRZLOO
EHFORVHG
7KH9%ILOH
([DPSOHSUHVHQWVWKHFRGHIRUWKLVWHFKQLTXH7KHFRGHDGGHGWRVXEFODVVWKH
:LQ)RUPDSSHDUVLQEROGIDFH7KLVFRGHVKRXOGEHIDPLOLDUWR\RXIURPWKHFRGHLQ6HFWLRQ
$&OLFNHYHQWKDVEHHQDGGHGIRUWKH%XWWRQFRQWUROZKLFKLVWKHEXWWRQODEHOHG
&UHDWH:QG7KLVFRGHVLPSO\FUHDWHVDQHZLQVWDQFHRIWKH6XSHUFODVVB([:LQ)RUPDQG
FDOOVLWV6KRZPHWKRGVRWKDWLWZLOOGLVSOD\LWVHOI
([DPSOH7KH)RUPYE)LOHWKDW$FWVDVWKH6XSHUFODVV:LQ)RUP LPSRUWV6\VWHP&RPSRQHQW0RGHO
,PSRUWV6\VWHP'UDZLQJ
,PSRUWV6\VWHP:LQ)RUPV
3XEOLF&ODVV)RUP
,QKHULWV6\VWHP:LQ)RUPV)RUP
'LPVF$V0\6XE&ODVV
3XEOLF6XE1HZ 0\%DVH1HZ )RUP 0H
,QLWLDOL]H&RPSRQHQW
VF 1HZ0\6XE&ODVV (QG6XE
)RUPRYHUULGHVGLVSRVHWRFOHDQXSWKHFRPSRQHQWOLVW
3XEOLF2YHUULGHV6XE'LVSRVH 0\%DVH'LVSRVH
FRPSRQHQWV'LVSRVH (QG6XE
5HJLRQ:LQGRZV)RUP'HVLJQHUJHQHUDWHGFRGH
5HTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
3ULYDWHFRPSRQHQWV$V6\VWHP&RPSRQHQW0RGHO&RQWDLQHU 3ULYDWH:LWK(YHQWV%XWWRQ$V6\VWHP:LQ)RUPV%XWWRQ
3ULYDWH:LWK(YHQWV7H[W%R[$V6\VWHP:LQ)RUPV7H[W%R[ 3ULYDWH:LWK(YHQWV%XWWRQ$V6\VWHP:LQ)RUPV%XWWRQ 3ULYDWH:LWK(YHQWV%XWWRQ$V6\VWHP:LQ)RUPV%XWWRQ
'LP:LWK(YHQWV)RUP$V6\VWHP:LQ)RUPV)RUP
127(7KHIROORZLQJSURFHGXUHLVUHTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
,WFDQEHPRGLILHGXVLQJWKH:LQGRZV)RUP'HVLJQHU 'RQRWPRGLI\LWXVLQJWKHFRGHHGLWRU 3ULYDWH6XE,QLWLDOL]H&RPSRQHQW
0HFRPSRQHQWV 1HZ6\VWHP&RPSRQHQW0RGHO&RQWDLQHU
0H%XWWRQ 1HZ6\VWHP:LQ)RUPV%XWWRQ 0H%XWWRQ 1HZ6\VWHP:LQ)RUPV%XWWRQ 0H%XWWRQ 1HZ6\VWHP:LQ)RUPV%XWWRQ
0H7H[W%R[ 1HZ6\VWHP:LQ)RUPV7H[W%R[
#GHVLJQ0H7UD\+HLJKW
#GHVLJQ0H7UD\/DUJH,FRQ )DOVH
#GHVLJQ0H7UD\$XWR$UUDQJH 7UXH
%XWWRQ/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
%XWWRQ6L]H 1HZ6\VWHP'UDZLQJ6L]H
%XWWRQ7DE,QGH[
%XWWRQ7H[W 6XEFODVV
%XWWRQ/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
%XWWRQ6L]H 1HZ6\VWHP'UDZLQJ6L]H
%XWWRQ7DE,QGH[
%XWWRQ7H[W 8Q6XEFODVV
%XWWRQ/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
%XWWRQ6L]H 1HZ6\VWHP'UDZLQJ6L]H
%XWWRQ7DE,QGH[
%XWWRQ7H[W &UHDWH:QG
7H[W%R[/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
7H[W%R[0XOWLOLQH 7UXH
7H[W%R[6FUROO%DUV 6\VWHP:LQ)RUPV6FUROO%DUV%RWK
7H[W%R[:RUG:UDS )DOVH
7H[W%R[7DE,QGH[
7H[W%R[6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H7H[W 9%1(76XEFODVVLQJ([DPSOH
0H$XWR6FDOH%DVH6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&OLHQW6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&RQWUROV$GG%XWWRQ
0H&RQWUROV$GG7H[W%R[ 0H&RQWUROV$GG%XWWRQ 0H&RQWUROV$GG%XWWRQ (QG6XE (QG5HJLRQ
3URWHFWHG6XE%XWWRQB&OLFN%\9DOVHQGHU$V2EMHFW%\9DOH$V6\VWHP(YHQW$UJV 'LP[$V1HZ6XSHUFODVVB([
[6KRZ
(QG6XE
68%&/$667(&+1,48(
3URWHFWHG6XE%XWWRQB&OLFN%\9DOVHQGHU$V2EMHFW%\9DOH$V6\VWHP(YHQW$UJV ,IVF+DQGOH 7KHQ
VF$VVLJQ+DQGOH0H+DQGOH (OVH
PVJER['RQ WWU\WRVXEFODVVWKLVZLQGRZPRUHWKDQRQFH
(QG,I
(QG6XE
3URWHFWHG6XE%XWWRQB&OLFN%\9DOVHQGHU$V2EMHFW%\9DOH$V6\VWHP(YHQW$UJV VF5HOHDVH+DQGOH (QG6XE
3XEOLF&ODVV0\6XEFODVV ,QKHULWV1DWLYH:LQGRZ
3URWHFWHG2YHUULGHV6XE:QG3URF%\5HIP$V0HVVDJH
,IPPVJ PLFURVRIW:LQ,QWHURSZLQ:0B5%87721'2:17KHQ
PVJER[PPVJ7R6WULQJ
(QG,I
0\%DVH:QG3URFP (QG6XE
3URWHFWHG2YHUULGHV6XE2Q+DQGOH&KDQJH PVJER[+DQGOHKDVFKDQJHG (QG6XE (QG&ODVV (QG&ODVV
([DPSOHSUHVHQWVWKHFRGHIRUWKH6XEFODVVB([:LQ)RUP7KLVFRGHLVPXFKVKRUWHU
WKDQWKHILUVWVLPSO\EHFDXVHWKH6XEFODVVB([:LQ)RUPLQKHULWVPRVWRILWVIXQFWLRQDOLW\IURP
WKH)RUP:LQ)RUPFODVV7KHKLJKOLJKWHGOLQHRIFRGHRYHUULGHVWKHRULJLQDOEDFNJURXQG
FRORURIWKH)RUP:LQ)RUP7KLVDOORZVXVWRPRUHHDVLO\GLVWLQJXLVKWKHVXSHUFODVVDQG
VXEFODVVZLQGRZVRQWKHVFUHHQ
([DPSOH7KH6XSHUFODVVB([YE)LOH8VLQJWKH6XSHUFODVVLQJ7HFKQLTXH ,PSRUWV6\VWHP'UDZLQJ
,PSRUWV6\VWHP:LQ)RUPV
,PSRUWV6\VWHP&RPSRQHQW0RGHO
3XEOLF&ODVV6XSHUFODVVB([
,QKHULWV)RUP
3XEOLF6XE1HZ 0\%DVH1HZ
6XSHUFODVVB([ 0H
,QLWLDOL]H&RPSRQHQW
72'2$GGDQ\LQLWLDOL]DWLRQDIWHUWKH,QLWLDOL]H&RPSRQHQW FDOO 0H%DFN&RORU 6\VWHP'UDZLQJ&RORU%LVTXH (QG6XE
)RUPRYHUULGHVGLVSRVHWRFOHDQXSWKHFRPSRQHQWOLVW
2YHUULGHV3XEOLF6XE'LVSRVH 0\%DVH'LVSRVH
FRPSRQHQWV'LVSRVH (QG6XE
5HJLRQ:LQGRZV)RUP'HVLJQHUJHQHUDWHGFRGH
3ULYDWHFRPSRQHQWV$V6\VWHP&RPSRQHQW0RGHO&RQWDLQHU
'LP:LWK(YHQWV6XSHUFODVVB([$V6\VWHP:LQ)RUPV)RUP
3ULYDWH6XE,QLWLDOL]H&RPSRQHQW
FRPSRQHQWV 1HZ6\VWHP&RPSRQHQW0RGHO&RQWDLQHU
0H7H[W 6XSHUFODVVB([
(QG6XE
(QG5HJLRQ
(QG&ODVV
7KHPDLQWKLQJWRQRWLFHLQWKLVFRGHH[DPSOHLVWKDW6XSHUFODVVB([LQKHULWVIURP)RUP7KLV
LVZKDWDOORZVXVWRSHUIRUPVXSHUFODVVLQJVRHDVLO\
6XSHUFODVVLQJD&RQWURO 6XSHUFODVVLQJDFRQWUROLVVLPLODUWRVXSHUFODVVLQJD:LQ)RUP)LUVW\RXZULWHDQHZFODVV
WKDWLQKHULWVIURPWKHFRQWUROWKDW\RXZDQWWRVXSHUFODVVIRUWKHIROORZLQJH[DPSOHLWZLOOEHD
EXWWRQFRQWURO1H[W\RXRYHUULGHWKH:QG3URFIRUWKHFRQWURODQGDGG\RXURZQIXQFWLRQDOLW\
7KHDSSOLFDWLRQ 7KLVH[DPSOHDSSOLFDWLRQFRQWDLQVDWH[WER[DQGDVXSHUFODVVHGEXWWRQFRQWURORQWKH
:LQ)RUP7DEOHOLVWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV)LJXUH
SUHVHQWVDVFUHHQVKRWRIWKHDSSOLFDWLRQ:KHQ\RXULJKWFOLFNWKHVXSHUFODVVHGEXWWRQ
DPHVVDJHER[LVGLVSOD\HGLQGLFDWLQJWKDWWKHEXWWRQZDVLQIDFWULJKWFOLFNHG 7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUPDQG,WV&RQWUROV 2EMHFW
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
&DSWLRQ
9%1(7&RQWURO6XSHUFODVVLQJ([DPSOH
)RUP
+HLJKW
)RUP
:LGWK
6&%XWWRQ
&DSWLRQ
6&
6&%XWWRQ
7RS
6&%XWWRQ
/HIW
6&%XWWRQ
+HLJKW
6&%XWWRQ
:LGWK
)LJXUH7KHDSSOLFDWLRQFRQWDLQLQJWKHVXSHUFODVVHGEXWWRQFRQWURO
7KH9%ILOH
([DPSOHSUHVHQWVWKHFRGHIRUWKLVWHFKQLTXH7KHLPSRUWDQWPRGLILFDWLRQVWRWKH
FRGHDUHLQEROGIDFH
([DPSOH7KH)RUPYE)LOHIRU6XSHUFODVVLQJD%XWWRQ&RQWURO ,PSRUWV6\VWHP&RPSRQHQW0RGHO
,PSRUWV6\VWHP'UDZLQJ
,PSRUWV6\VWHP:LQ)RUPV
3XEOLF&ODVV)RUP
,QKHULWV6\VWHP:LQ)RUPV)RUP
3XEOLF6XE1HZ 0\%DVH1HZ )RUP 0H
,QLWLDOL]H&RPSRQHQW
(QG6XE
)RUPRYHUULGHVGLVSRVHWRFOHDQXSWKHFRPSRQHQWOLVW
3XEOLF2YHUULGHV6XE'LVSRVH 0\%DVH'LVSRVH
FRPSRQHQWV'LVSRVH (QG6XE
5HJLRQ:LQGRZV)RUP'HVLJQHUJHQHUDWHGFRGH
5HTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
3ULYDWHFRPSRQHQWV$V6\VWHP&RPSRQHQW0RGHO&RQWDLQHU
3ULYDWH:LWK(YHQWVVF%XWWRQ$V6XE&%XWWRQ
'LP:LWK(YHQWV)RUP$V6\VWHP:LQ)RUPV)RUP
127(7KHIROORZLQJSURFHGXUHLVUHTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
,WFDQEHPRGLILHGXVLQJWKH:LQGRZV)RUP'HVLJQHU 'RQRWPRGLI\LWXVLQJWKHFRGHHGLWRU 3ULYDWH6XE,QLWLDOL]H&RPSRQHQW
0HFRPSRQHQWV 1HZ6\VWHP&RPSRQHQW0RGHO&RQWDLQHU 0HVF%XWWRQ 1HZ6XSHU%XWWRQ
#GHVLJQ0H7UD\+HLJKW
#GHVLJQ0H7UD\/DUJH,FRQ )DOVH
#GHVLJQ0H7UD\$XWR$UUDQJH 7UXH
VF%XWWRQ/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
VF%XWWRQ6L]H 1HZ6\VWHP'UDZLQJ6L]H VF%XWWRQ7H[W 6&
0H7H[W 9%1(7&RQWURO6XSHUFODVVLQJ([DPSOH
0H$XWR6FDOH%DVH6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&OLHQW6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&RQWUROV$GGVF%XWWRQ (QG6XE
(QG5HJLRQ
(QG&ODVV
3XEOLF&ODVV6XSHU%XWWRQ
,QKHULWV6\VWHP:LQ)RUPV%XWWRQ
3URWHFWHG2YHUULGHV6XE:QG3URF%\5HIP$V0HVVDJH
,IPPVJ PLFURVRIW:LQ,QWHURSZLQ:0B5%87721'2:17KHQ
0HVVDJH%R[6KRZ7KHULJKWPRXVHEXWWRQZDVSUHVVHG0HVVDJH,' B
PPVJ7R6WULQJ (QG,I
0\%DVH:QG3URFP (QG6XE (QG&ODVV
$QHZFODVVLVFUHDWHGFDOOHG6XSHU%XWWRQZKLFKFRQWDLQVWKHRYHUULGGHQ:QG3URFPHWKRG
,WLVLQWKLV:QG3URFPHWKRGWKDWZHSODFHRXUVXSHUFODVVLQJFRGH7KLVFRGHVLPSO\ZDWFKHV
IRUWKH:0B5%87721'2:1PHVVDJHDQGWKHQGLVSOD\VDPHVVDJHER[LQGLFDWLQJWKDWWKLV
PHVVDJHZDVLQWHUFHSWHG
7RLQVWDQWLDWHDQGXVHWKLVVXSHUFODVVHGEXWWRQFRQWUROZHPXVWDGGVRPHH[WUDFRGHWRWKH
FRGHEORFNEHWZHHQWKH5HJLRQ(QG5HJLRQSUHSURFHVVRUGLUHFWLYHV)LUVWZHDGGWKH IROORZLQJFRGHWRKRRNXSWKHHYHQWVIRUWKLVFRQWURO
3ULYDWH:LWK(YHQWVVF%XWWRQ$V6XE&%XWWRQ
1H[WZHLQVWDQWLDWHWKHEXWWRQFRQWURODQGVHWLWVSURSHUWLHVLQWKH,QLWLDOL]H&RPSRQHQW
PHWKRG
0HVF%XWWRQ 1HZ6XSHU%XWWRQ
VF%XWWRQ/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW VF%XWWRQ6L]H 1HZ6\VWHP'UDZLQJ6L]H VF%XWWRQ7H[W 6&
7KH/RFDWLRQSURSHUW\VHWVWKH7RSDQG/HIWFRRUGLQDWHVDQGWKH6L]HSURSHUW\VHWVWKH
+HLJKWDQG:LGWKYDOXHV7KH7H[WSURSHUW\VHWVWKHEXWWRQ VFDSWLRQ
)LQDOO\ZHDGGWKHFRQWUROWRWKH:LQ)RUP VFRQWURODUUD\WKURXJKWKHIROORZLQJOLQHRIFRGH
0H&RQWUROV$GGVF%XWWRQ 7KDWLVDOOWKHUHLVWRLW
,QWHUFHSWLQJ.H\VWURNHVLQD:LQ)RUP ,ZDQWWRFRYHURQHILQDOPHWKRGRILQWHUFHSWLQJPHVVDJHVLQD:LQ)RUP7KHUHDUHQLQHEXLOW
LQPHWKRGVLQWKH&RQWUROFODVVWKDW\RXFDQRYHUULGHWRFDSWXUHNH\VWURNHPHVVDJHV,I\RX
QHHGWRFDSWXUHRQO\NH\ERDUGPHVVDJHVXVLQJRQHRUPRUHRIWKHVHPHWKRGVZLOODOORZ\RX
WRLQWHUFHSWWKHPHVVDJHVZLWKRXWKDYLQJWRVXEFODVVWKH:LQ)RUP
7KHPHVVDJHVWKDW\RXFDQLQWHUFHSWDUH :0B&+$5
:0B.(<'2:1 :0B.(<83
:0B6<6.(<'2:1 :0B6<6.(<83
7KHQLQHPHWKRGVWKDW\RXFDQRYHUULGHDUH
ProcessKeyPreview
$FKLOGFRQWUROFDOOVWKLVPHWKRGEHIRUHSURFHVVLQJDNH\ERDUGPHVVDJH,IWKHFKLOG
FRQWUROGRHVQRWSURFHVVWKHPHVVDJHLWLVVHQWRQWRWKHSDUHQWFRQWURO,IQRSDUHQW
FRQWUROH[LVWVWKLVPHWKRGUHWXUQV7UXHLQGLFDWLQJWKDWWKLVPHVVDJHLVQRWWREH
SURFHVVHGDQ\ORQJHU PreProcessMessage
7KLVPHWKRGLVFDOOHGIURPWKHWKUHDG VPHVVDJHORRSEHIRUHWKHPHVVDJHLV
GLVSDWFKHG7KHSURFHVVLQJWKDWWKLVPHWKRGSHUIRUPVGHSHQGVRQWKHPHVVDJH
UHFHLYHG WM_KEYDOWN and WM_SYSKEYDOWN
3URFHVV&PG.H\LVILUVWFDOOHGWRGHWHUPLQHLIWKHNH\ERDUGPHVVDJHLVDQDFFHOHUDWRU
RUPHQXVKRUWFXW,I3URFHVV&PG.H\UHWXUQV)DOVH,V,QSXW.H\LVFDOOHGWRGHWHUPLQH
LIWKHNH\ERDUGPHVVDJHLVEHLQJVHQWDVLQSXWWRWKHFRQWUROVXFKDVFKDUDFWHUV
EHLQJW\SHGLQWRDWH[WER[FRQWURO)LQDOO\LI,V,QSXW.H\UHWXUQV)DOVHWKHNH\ERDUG
PHVVDJHLVVHQWWR3URFHVV'LDORJ.H\3URFHVV'LDORJ.H\GHWHUPLQHVLIWKHNH\LVD
GLDORJW\SHNH\VXFKDVD7$%DQDUURZRUPQHPRQLFV WM_CHAR
,V,QSXW&KDULVILUVWFDOOHGWRGHWHUPLQHLIWKHNH\ERDUGPHVVDJHLVEHLQJVHQWDVLQSXW
WRWKHFRQWUROVXFKDVFKDUDFWHUVEHLQJW\SHGLQWRDWH[WER[FRQWURO,I,V,QSXW&KDU
UHWXUQV)DOVH3URFHVV'LDORJ&KDULVFDOOHG3URFHVV'LDORJ&KDUSURFHVVHVGLDORJ
FKDUDFWHUVVXFKDVD7$%DQDUURZRUPQHPRQLFV WM_SYSCHAR
3URFHVV'LDORJ&KDULVFDOOHGWRGHWHUPLQHLIWKHNH\LVDGLDORJW\SHNH\VXFKDVD
7$%DQDUURZRUPQHPRQLFV WM_KEYUP and WM_SYSKEYUP
1RSURFHVVLQJLVSHUIRUPHGRQWKHVHPHVVDJHV
,IWKLVPHWKRGUHWXUQV7UXHWKHNH\ERDUGPHVVDJHLVQRWGLVSDWFKHGRWKHUZLVHLWLV
GLVSDWFKHG IsInputChar
'HWHUPLQHVLIWKHNH\ERDUGPHVVDJHLVRQHWKDWWKHFRQWUROLVORRNLQJIRUVXFKDVD
PQHPRQLF,IWKLVPHWKRGUHWXUQV7UXHWKHPHVVDJHLVVHQWGLUHFWO\WRWKHFRQWURO
RWKHUZLVHLWLVGLVSDWFKHGWRWKHGHVWLQDWLRQZLQGRZSURFHGXUH IsInputKey
'HWHUPLQHVZKHWKHUWKHNH\ERDUGPHVVDJHVKRXOGEHSUHSURFHVVHGRUVHQWGLUHFWO\
WRWKHFRQWURO7KLVPHWKRGORRNVIRUWKH7$%DUURZ(6&DQG5(7851NH\V,IWKLV
PHWKRGUHWXUQV7UXHWKHPHVVDJHLVVHQWGLUHFWO\WRWKHFRQWURORWKHUZLVHLWLV
GLVSDWFKHGWRWKHGHVWLQDWLRQZLQGRZSURFHGXUH ProcessCmdKey
$OORZVSURFHVVLQJRIFRPPDQGNH\VVXFKDVDFFHOHUDWRUVDQGPHQXVKRUWFXWV,IWKLV
PHWKRGUHWXUQV7UXHWKHPHVVDJHLVGLVFDUGHGRWKHUZLVHWKHPHVVDJHFRQWLQXHVWR
EHSUHSURFHVVHG ProcessDialogChar
3URFHVVHVGLDORJER[FKDUDFWHUVVXFKDVPQHPRQLFV,IWKLVPHWKRGUHWXUQV7UXHWKH
PHVVDJHLVGLVFDUGHGRWKHUZLVHWKHPHVVDJHFRQWLQXHVWREHSUHSURFHVVHG ProcessDialogKey
3URFHVVHVGLDORJER[NH\VVXFKDVWKH7$%DUURZ(6&DQG5(7851NH\V,IWKLV
PHWKRGUHWXUQV7UXHWKHPHVVDJHLVGLVFDUGHGRWKHUZLVHWKHPHVVDJHFRQWLQXHVWR
EHSUHSURFHVVHG ProcessKeyEventArgs
3URFHVVHVPHVVDJHVVHQWWRFRQWUROV7KLVPHWKRGFDOOVWKHFRQWURO V2Q.H\'RZQ
2Q.H\3UHVVDQG2Q.H\8SHYHQWV,QDGGLWLRQWRWKHSUHYLRXVO\PHQWLRQHGNH\ERDUG
PHVVDJHVWKLVPHWKRGDOVRSURFHVVHVWKH:0B,0(&+$5PHVVDJH,IWKLVPHWKRG
UHWXUQV7UXHWKHPHVVDJHLVGLVFDUGHGRWKHUZLVHWKHPHVVDJHFRQWLQXHVWREH
SUHSURFHVVHG ProcessMnemonic
7KLVPHWKRGSURFHVVHVDPQHPRQLFFKDUDFWHUIRUDFRQWURO,ILWILQGVDPQHPRQLF
WKLVPHWKRGVKRXOGSHUIRUPWKHDFWLRQIRUWKHPQHPRQLFDQGUHWXUQDYDOXHRI7UXH,I
WKLVPHWKRGUHWXUQV7UXHWKHPHVVDJHLVGLVFDUGHGRWKHUZLVHWKHPHVVDJH
FRQWLQXHVWREHSUHSURFHVVHG
7KHDSSOLFDWLRQ 7KLVDSSOLFDWLRQDOORZV\RXWRZDWFKHDFKRYHUULGGHQPHWKRGDVLWLVFDOOHGZKHQ\RXSUHVV DQGUHOHDVHNH\VLQGLYLGXDOO\RULQFRPELQDWLRQ(DFKRYHUULGGHQPHWKRGZULWHVDEULHI
PHVVDJHLQGLFDWLQJWKDWLWKDVEHHQFDOOHGWRDUHDGRQO\WH[WER[ZKLFKLVSURYLGHGWR
SUHYHQWFRQIXVLQJRXWSXWZKHQWKHXVHUWULHVWRW\SHDFKDUDFWHULQWRDWH[WER[
7DEOHOLVWVWKHQRQGHIDXOWSURSHUWLHVRIWKHVXSHUFODVVIRUPDQGLWVFRQWUROV)LJXUH SUHVHQWVDVFUHHQVKRWRIWKHH[DPSOHDSSOLFDWLRQ
7DEOH1RQGHIDXOW3URSHUWLHVRIWKH)RUP:LQ)IRUPDQG,WV&RQWUROV 2EMHFW
3URSHUW\1DPH
3URSHUW\9DOXH
)RUP
&DSWLRQ
9%1(73URFHVV.H\V([DPSOH
)RUP
+HLJKW
)RUP
:LGWK
7H[W%R[
0XOWLOLQH
7UXH
7H[W%R[
6FUROOEDUV
7UXH
7H[W%R[
:RUG:UDS
)DOVH
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
%XWWRQ
&DSWLRQ
&OHDU
%XWWRQ
7RS
%XWWRQ
/HIW
%XWWRQ
+HLJKW
%XWWRQ
:LGWK
)LJXUH7KHSURFHVVNH\VDSSOLFDWLRQ
7KLVH[DPSOHDSSOLFDWLRQRYHUULGHVHDFKRIWKHQLQHPHWKRGVWKDWLQWHUFHSWNH\ERDUG
PHVVDJHV:KHQHYHUDNH\LVSUHVVHGHDFKRYHUULGGHQPHWKRGZLOORXWSXWVRPHWH[WWRD
UHDGRQO\WH[WER[WKHWH[WRXWSXWGHSHQGVRQWKHPHWKRGWKDWZDVFDOOHG7KH&OHDUEXWWRQ
LVSURYLGHGWRDOORZ\RXWRFOHDUWKHWH[WER[$VPDOOHUWH[WER[LVSURYLGHGWRDOORZ\RXWR
HQWHUFKDUDFWHUVWRVHHKRZWKHV\VWHPSURFHVVHVHDFKFKDUDFWHU
,QWKHVFUHHQVKRWLQ)LJXUHWKHDNH\ZDVSUHVVHGZKLOHWKHIRFXVZDVLQWKHVPDOO WH[WER[,IZHSUHVVWKHDNH\ZKLOHWKHIRFXVLVRQWKH&OHDUEXWWRQZHJHWWKHIROORZLQJ
WH[WRXWSXWWRWKHWH[WER[
352&(66&0'.(<PVJ
352&(66',$/2*.(<.H\'DWD
.H\&RGH
352&(66.(<35(9,(:PVJ
352&(66',$/2*&+$5&KDU&RGH D
352&(6601(021,&&KDU&RGH D
352&(66.(<35(9,(:PVJ
352&(66.(<35(9,(:PVJ
7KH3URFHVV'LDORJ&KDUDQG3URFHVV0QHPRQLFPHWKRGVZHUHFDOOHGLQDGGLWLRQWRWKH
PHWKRGVWKDWZHUHFDOOHGZKHQWKHIRFXVZDVRQWKHWH[WER[7KLVLVEHFDXVHDEXWWRQ FRQWUROFDQKDYHDPQHPRQLFFKDUDFWHUDQGDWH[WER[FRQWUROFDQQRW
7KH9%ILOH
([DPSOHSUHVHQWVWKHFRGHIRUWKLVVDPSOHDSSOLFDWLRQ7KHFRGHIRUWKHRYHUULGGHQ
PHWKRGVDSSHDUVLQEROGIDFH
([DPSOH7KH)RUPFV)LOHIRU6XSHUFODVVLQJD%XWWRQ&RQWURO ,PSRUWV6\VWHP&RPSRQHQW0RGHO
,PSRUWV6\VWHP'UDZLQJ
,PSRUWV6\VWHP:LQ)RUPV
3XEOLF&ODVV)RUP
,QKHULWV6\VWHP:LQ)RUPV)RUP
3XEOLF6XE1HZ 0\%DVH1HZ )RUP 0H
,QLWLDOL]H&RPSRQHQW
(QG6XE
)RUPRYHUULGHVGLVSRVHWRFOHDQXSWKHFRPSRQHQWOLVW
3XEOLF2YHUULGHV6XE'LVSRVH 0\%DVH'LVSRVH
FRPSRQHQWV'LVSRVH (QG6XE
5HJLRQ:LQGRZV)RUP'HVLJQHUJHQHUDWHGFRGH
5HTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
3ULYDWHFRPSRQHQWV$V6\VWHP&RPSRQHQW0RGHO&RQWDLQHU
3ULYDWH:LWK(YHQWV7H[W%R[$V6\VWHP:LQ)RUPV7H[W%R[ 3ULYDWH:LWK(YHQWV%XWWRQ$V6\VWHP:LQ)RUPV%XWWRQ
3ULYDWH:LWK(YHQWV7H[W%R[$V6\VWHP:LQ)RUPV7H[W%R[
'LP:LWK(YHQWV)RUP$V6\VWHP:LQ)RUPV)RUP
127(7KHIROORZLQJSURFHGXUHLVUHTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
,WFDQEHPRGLILHGXVLQJWKH:LQGRZV)RUP'HVLJQHU
'RQRWPRGLI\LWXVLQJWKHFRGHHGLWRU 3ULYDWH6XE,QLWLDOL]H&RPSRQHQW
0HFRPSRQHQWV 1HZ6\VWHP&RPSRQHQW0RGHO&RQWDLQHU 0H%XWWRQ 1HZ6\VWHP:LQ)RUPV%XWWRQ
0H7H[W%R[ 1HZ6\VWHP:LQ)RUPV7H[W%R[ 0H7H[W%R[ 1HZ6\VWHP:LQ)RUPV7H[W%R[
#GHVLJQ0H7UD\+HLJKW
#GHVLJQ0H7UD\/DUJH,FRQ )DOVH
#GHVLJQ0H7UD\$XWR$UUDQJH 7UXH
%XWWRQ/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
%XWWRQ6L]H 1HZ6\VWHP'UDZLQJ6L]H %XWWRQ7DE,QGH[
%XWWRQ7DE6WRS )DOVH %XWWRQ7H[W &OHDU
7H[W%R[/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
7H[W%R[7DE,QGH[
7H[W%R[6L]H 1HZ6\VWHP'UDZLQJ6L]H
7H[W%R[/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW 7H[W%R[5HDG2QO\ 7UXH 7H[W%R[0XOWLOLQH 7UXH
7H[W%R[6FUROO%DUV 6\VWHP:LQ)RUPV6FUROO%DUV%RWK 7H[W%R[:RUG:UDS )DOVH
7H[W%R[7DE,QGH[
7H[W%R[7DE6WRS )DOVH
7H[W%R[6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H7H[W 9%1(76XEFODVVLQJ([DPSOH
0H$XWR6FDOH%DVH6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&OLHQW6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&RQWUROV$GG7H[W%R[ 0H&RQWUROV$GG%XWWRQ
0H&RQWUROV$GG7H[W%R[ (QG6XE
3URWHFWHG2YHUULGHV)XQFWLRQ3URFHVV.H\3UHYLHZ%\5HIP$V0HVVDJH $V%RROHDQ
WH[WER[7H[W WH[WER[7H[W 352&(66.(<35(9,(:PVJ B
PPVJ7R6WULQJ FKU FKU
3URFHVV.H\3UHYLHZ 0\%DVH3URFHVV.H\3UHYLHZP (QG)XQFWLRQ
3XEOLF2YHUULGHV)XQFWLRQ3UH3URFHVV0HVVDJH%\9DOPVJ$VB 0LFURVRIW:LQ,QWHURS06* $V%RROHDQ
$V%RROHDQ
WH[WER[7H[W WH[WER[7H[W 35(352&(660(66$*(PVJ B PVJPHVVDJH7R6WULQJ FKU FKU
3UH3URFHVV0HVVDJH 0\%DVH3UH3URFHVV0HVVDJHPVJ (QG)XQFWLRQ
3URWHFWHG2YHUULGHV)XQFWLRQ,V,QSXW&KDU%\9DO&KDU&RGH$V&KDU $V%RROHDQ WH[WER[7H[W WH[WER[7H[W ,6,1387&+$5&KDU&RGH B
&KDU&RGH7R6WULQJ FKU FKU
,V,QSXW&KDU 0\%DVH,V,QSXW&KDU&KDU&RGH (QG)XQFWLRQ
3URWHFWHG2YHUULGHV)XQFWLRQ,V,QSXW.H\%\9DO.H\'DWD$V.H\V $V%RROHDQ WH[WER[7H[W WH[WER[7H[W ,6,1387.(<.H\'DWD B
.H\'DWD7R6WULQJ FKU FKU
WH[WER[7H[W WH[WER[7H[W .H\&RGH .H\'DWD.H\&RGH7R6WULQJ B
FKU FKU
,V,QSXW.H\ 0\%DVH,V,QSXW.H\.H\GDWD (QG)XQFWLRQ
3URWHFWHG2YHUULGHV)XQFWLRQ3URFHVV&PG.H\%\9DOPVJ$VB
0LFURVRIW:LQ,QWHURS06*%\9DO.H\'DWD$V.H\V $V%RROHDQ %\9DO.H\'DWD$V.H\V $V%RROHDQ
WH[WER[7H[W WH[WER[7H[W 352&(66&0'.(<PVJ B
PVJPHVVDJH7R6WULQJ FKU FKU
3URFHVV&PG.H\ 0\%DVH3URFHVV&PG.H\PVJ.H\'DWD (QG)XQFWLRQ
3URWHFWHG2YHUULGHV)XQFWLRQ3URFHVV'LDORJ&KDU%\9DO&KDU&RGH$V&KDU $V%RROHDQ
WH[WER[7H[W WH[WER[7H[W 352&(66',$/2*&+$5&KDU&RGH B
&KDU&RGH7R6WULQJ FKU FKU
3URFHVV'LDORJ&KDU 0\%DVH3URFHVV'LDORJ&KDU&KDU&RGH
(QG)XQFWLRQ
3URWHFWHG2YHUULGHV)XQFWLRQ3URFHVV'LDORJ.H\%\9DO.H\'DWD$V.H\V $V%RROHDQ WH[WER[7H[W WH[WER[7H[W 352&(66',$/2*.(<.H\'DWD B .H\'DWD7R6WULQJ FKU FKU
WH[WER[7H[W WH[WER[7H[W .H\&RGH .H\'DWD.H\&RGH7R6WULQJ B
FKU FKU
3URFHVV'LDORJ.H\ 0\%DVH3URFHVV'LDORJ.H\.H\'DWD
(QG)XQFWLRQ
3URWHFWHG2YHUULGHV)XQFWLRQ3URFHVV.H\(YHQW$UJV%\5HIP$V0HVVDJH $V%RROHDQ
WH[WER[7H[W WH[WER[7H[W 352&(66.(<(9(17$5*6PVJ B PPVJ7R6WULQJ FKU FKU
3URFHVV.H\(YHQW$UJV 0\%DVH3URFHVV.H\(YHQW$UJVP
(QG)XQFWLRQ
3URWHFWHG2YHUULGHV)XQFWLRQ3URFHVV0QHPRQLF%\9DO&KDU&RGH$V&KDU $V%RROHDQ
WH[WER[7H[W WH[WER[7H[W 352&(6601(021,&&KDU&RGH B
&KDU&RGH7R6WULQJ FKU FKU
3URFHVV0QHPRQLF 0\%DVH3URFHVV0QHPRQLF&KDU&RGH
(QG)XQFWLRQ
(QG5HJLRQ
3URWHFWHG6XE%XWWRQB&OLFN%\9DOVHQGHU$V2EMHFW%\9DOH$V6\VWHP(YHQW$UJV WH[WER[7H[W (QG6XE
(QG&ODVV
1RWHWKDWWKHRYHUULGGHQPHWKRG VEDVHFODVVLVFDOOHGDWWKHHQGRIHDFKRYHUULGGHQPHWKRG
7KHVHRYHUULGGHQPHWKRGVDOVRUHWXUQWKHYDOXHWKDWWKHEDVHFODVVPHWKRGUHWXUQV
%HKLQGWKH6FHQHVZLWK6S\ 7RXQGHUVWDQGPRUHRIZKDWLVKDSSHQLQJZKHQZHVXEFODVVD:LQ)RUPZHZLOOXVHWKH
6S\XWLOLW\WRVHHZKDWLVKDSSHQLQJWRRXUDSSOLFDWLRQEHIRUHGXULQJDQGDIWHUZHVXEFODVV
DQDSSOLFDWLRQ
7RVWDUWZHZLOOUXQWKHH[DPSOHDSSOLFDWLRQWKDWZHFUHDWHGLQ6HFWLRQ$IWHU
VWDUWLQJ6S\DQGILQGLQJWKHDSSOLFDWLRQZHLPPHGLDWHO\QRWLFHVHYHUDOWKLQJVDV)LJXUH
LOOXVWUDWHV
)LJXUH8VLQJ6S\WRH[DPLQHRXU9%1(7VXEFODVVLQJDSSOLFDWLRQFUHDWHGXVLQJ 7HFKQLTXH
7KHILUVWWKLQJRILQWHUHVWLVWKDWVL[WKUHDGVDUHDXWRPDWLFDOO\FUHDWHGZKHQD9%1(7
DSSOLFDWLRQVWDUWV2XUDSSOLFDWLRQFRGHUXQVLQWKUHDGZKLFKKDVDKDQGOHRI +)LQ
)LJXUH8VLQJWKH7KUHDGLQJFODVVHVLQWKH1(7IUDPHZRUN\RXFDQFUHDWHHYHQ
PRUHWKUHDGV7KHH[DPSOHVSUHVHQWHGKHUHGRQRWFUHDWHPXOWLSOHWKUHDGV+RZHYHULI\RX
FUHDWHPRUHWKUHDGVXVLQJWKH7KUHDGLQJFODVVHV\RXVKRXOGEHDZDUHWKDWWKHVXEFODVVLQJ
WHFKQLTXHVGHVFULEHGLQWKLVFKDSWHUZRUNRQO\ZLWKLQWKHWKUHDGWKDWXVHVWKHVHWHFKQLTXHV
7KHRWKHULWHPRILQWHUHVWLVWKHFODVVQDPHVRIWKH:LQ)RUPDQGLWVFRQWUROV*RQHDUHWKH
IDPLOLDU7KXQGHU FODVVHVHYHQWKHVWDQGDUGZLQGRZVFODVVHVVXFKDV%87721DQG(',7
DUHJRQH/DQJXDJHVWKDWUXQXQGHUWKH1(7IUDPHZRUNVXFKDV9%1(7DQG&XVH
FODVVHVVXFKDV:LQ)RUPV:LQGRZDSSIRUD:LQ)RUP:LQ)RUPV%87721DSS
IRUEXWWRQFRQWUROVDQG:LQ)RUPV(',7DSSIRUHGLWFRQWUROV(DFK:LQ)RUPFRQWUROLQ
WKH1(7IUDPHZRUNKDVDQHZZLQGRZFODVVQDPH$VDQRWHWKHVHFODVVQDPHVPLJKW
FKDQJHDIWHU%HWD
,IZHGRXEOHFOLFNRXUDSSOLFDWLRQ V:LQ)RUPWKH:LQ)RUPLWHPKDVDKDQGOHRI +&
WKH:LQGRZ3URSHUWLHVGLDORJER[LVGLVSOD\HGDV)LJXUHVKRZV1RWHWKDWWKH
:LQGRZ3URFILHOGRQWKLVGLDORJER[LVVHWWR +E)(1RZFOLFNWKH&ODVVWDEDQGORRNDW
WKH:LQGRZ3URFILHOGYDOXHZKLFK)LJXUHVKRZV7KLVWDEUHSRUWVWKDWWKHFODVV
ZLQGRZSURFHGXUHLVVHWWR +%'((ZKLFKLVQRWWKHVDPHDVWKH:LQ)RUP VZLQGRZ
SURFHGXUH7KLVPHDQVWKDWWKHV\VWHPVXEFODVVHGWKHZLQGRZDXWRPDWLFDOO\,QIDFW
6HW:LQGRZ/RQJ:LVFDOOHGZKHQWKH:LQ)RUPLVILUVWFUHDWHGWRVXEFODVVLWVRULJLQDOZLQGRZ
SURFHGXUH:KHQWKH:LQ)RUPLVFORVHGWKHV\VWHPDXWRPDWLFDOO\UHSODFHVLWVRULJLQDO
ZLQGRZSURFHGXUHZKLFKDOORZVWKH:LQ)RUPWRVKXWGRZQJUDFHIXOO\7KLVLVDELJKHOSIRU
XVZKHQZHDUHVXEFODVVLQJD:LQ)RUP7KHV\VWHPVXEFODVVHVWKH:LQ)RUPNHHSVWUDFNRI
LWVRULJLQDOZLQGRZSURFHGXUHDQGWKHQUHSODFHVLWEHIRUHLWLVFRPSOHWHO\VKXWGRZQ
)LJXUH7KH&ODVVWDESURSHUWLHVIRURXU9%1(7VXEFODVVLQJDSSOLFDWLRQFUHDWHGXVLQJ 7HFKQLTXH
:LQ)RUPVDUHQRWWKHRQO\ZLQGRZVWKDWDUHVXEFODVVHGLQWKLVPDQQHUDOO1(7FRQWUROVDW
OHDVWWKHRQHVWKDW,KDYHFKHFNHGRXWDUHVXEFODVVHGLQWKLVPDQQHU
RXWIRU\RXUVHOIE\FRPSDULQJWKH:LQGRZ3URFILHOGVRQWKH*HQHUDODQG&ODVVWDEVRIWKH
:LQGRZ3URSHUWLHVGLDORJER[DVZHGLGLQ)LJXUHDQG)LJXUH,IWKHYDOXHVDUH GLIIHUHQWWKHFRQWUROKDVEHHQVXEFODVVHGRWKHUZLVHLWKDVQRW
SODFHDQXQPDQDJHG$FWLYH;FRQWURORQD:LQ)RUPLWLVQRWDXWRPDWLFDOO\VXEFODVVHG
&RQWLQXLQJRQZHZLOOH[DPLQHWKHDSSOLFDWLRQWKDWZHFUHDWHGLQ6HFWLRQLQWKH
VDPHPDQQHU$IWHUVWDUWLQJWKHDSSOLFDWLRQDQG6S\ZHQRWLFHWKDWWKH:LQ)RUPDQGLWV
FRQWUROVKDYHEHHQVXEFODVVHGLQWKHVDPHPDQQHUDVZHVDZZLWKWKHSUHYLRXVDSSOLFDWLRQ
,I\RXQRWLFHLQ)LJXUHDQG)LJXUHWKH:LQGRZ3URFILHOGVRIWKH*HQHUDO DQG&ODVVWDEVDUHGLIIHUHQW
)LJXUH8VLQJ6S\WRH[DPLQHRXU9%1(7VXEFODVVLQJDSSOLFDWLRQFUHDWHGXVLQJ 7HFKQLTXH
)LJXUH7KH&ODVVWDESURSHUWLHVIRURXU9%1(7VXEFODVVLQJDSSOLFDWLRQFUHDWHGXVLQJ 7HFKQLTXH
7KLVDSSOLFDWLRQXVHVDGLIIHUHQWWHFKQLTXHWRVXEFODVVD:LQ)RUPWKDQWKHILUVWDSSOLFDWLRQ
GRHV7KLVDSSOLFDWLRQVXEFODVVHVWKH:LQ)RUPRQO\ZKHQZHFOLFNWKH6XEFODVVEXWWRQ,IZH
SURFHHGWRFOLFNWKH6XEFODVVEXWWRQZHQRWLFHWKDWWKH:LQGRZ3URFILHOGRQWKH*HQHUDOWDE
KDVEHHQPRGLILHGDV)LJXUHVKRZV
)LJXUH7KH&ODVVWDESURSHUWLHVIRURXU9%1(7VXEFODVVLQJDSSOLFDWLRQDIWHUFOLFNLQJ WKH6XEFODVVEXWWRQ
1RZWKH:LQ)RUPLVHIIHFWLYHO\VXEFODVVHGWZLFHRQFHE\WKHV\VWHPDQGRQFHE\RXUFRGH
FDOOLQJWKH$VVLJQ+DQGOHPHWKRGRQWKH1DWLYH:LQGRZFODVVLQRXUSURMHFW,I\RXUHPHPEHU
WKHFRGHLQWKH6XEFODVVEXWWRQ&OLFNHYHQWORRNVOLNHWKLV
3URWHFWHG6XE%XWWRQB&OLFN%\9DOVHQGHU$V2EMHFW%\9DOH$V6\VWHP(YHQW$UJV ,IVF+DQGOH 7KHQ
VF$VVLJQ+DQGOH0H+DQGOH (OVH
PVJER['RQ WWU\WRVXEFODVVWKLVZLQGRZPRUHWKDQRQFH
(QG,I
(QG6XE
:KHQWKH8Q6XEFODVVEXWWRQLVFOLFNHGWKHVXEFODVVLQJLVUHPRYHG,I\RXORRNEDFNDWWKH
:LQGRZ3URFILHOGRQWKH*HQHUDOWDE\RXZLOOQRWLFHWKDWLWUHYHUWVEDFNWRLWVSUHYLRXVYDOXH
7KHFRGHEHKLQGWKH&OLFNHYHQWRIWKH8Q6XEFODVVEXWWRQORRNVOLNHWKLV
3URWHFWHG6XE%XWWRQB&OLFN%\9DOVHQGHU$V2EMHFW%\9DOH$V6\VWHP(YHQW$UJV VF5HOHDVH+DQGOH (QG6XE
)URPWKLVLQIRUPDWLRQZHFDQSODLQO\VHHWKDWWKHV\VWHPWDNHVFDUHRIDORWRIWKHGHWDLOVRI
VXEFODVVLQJIRUXV7KLVLVZK\D:LQ)RUPZLOOQRWFUDVKZKHQZHVKXWLWGRZQZLWKRXW
UHPRYLQJWKHVXEFODVVSURFHGXUH$VZHZLOOVHHLQ&KDSWHUWKHV\VWHPGRHVQRWKHOS XVRXWZKHQLPSOHPHQWLQJKRRNVDVPXFKDVLWGRHVZLWKVXEFODVVLQJDQGVXSHUFODVVLQJ
&KDSWHU,PSOHPHQWLQJ+RRNVLQ9%1(7 7KLVFKDSWHUFRYHUVWKHLPSOHPHQWDWLRQRI:LQGRZVKRRNVZLWKLQD9%1(7DSSOLFDWLRQ,WLV
DVVXPHGWKDW\RXKDYHUHDGDQGXQGHUVWDQGWKHFRQFHSWVODLGRXWLQ&KDSWHUDQG
&KDSWHU,WDOVRLVDVVXPHGWKDW\RXKDYHDZRUNLQJNQRZOHGJHRIKRZWRZULWH9%1(7
FRGH
+RRNVDQG9%1(7 8QOLNHVXEFODVVLQJDQGVXSHUFODVVLQJ9%1(7GRHVQRWUHDGLO\VXSSRUWWKHXVHRIWKH
VWDQGDUG:LQGRZVKRRNVZLWKLQWKHODQJXDJH
1RQHRIWKH1(7ODQJXDJHVPDNHDQ\VSHFLDO
FRQFHVVLRQVWRHDVLO\LPSOHPHQW:LQGRZVKRRNV7R LPSOHPHQWKRRNVZLWKLQRWKHU1(7ODQJXDJHVVXFKDV
&IROORZWKHVDPHVWHSVDVDUHRXWOLQHGLQWKLVFKDSWHU
$FWXDOO\PRUHFRGHLVLQYROYHGZLWKLPSOHPHQWLQJKRRNVLQ9%1(7WKDQLQWKHSUHYLRXV
YHUVLRQVRI9LVXDO%DVLF9% 7KLVLVEHFDXVHZHPXVWXVHGHOHJDWHVWRLPSOHPHQWWKHILOWHU
IXQFWLRQFDOOEDFNPHFKDQLVPWKDWKRRNVUHO\RQ,GLVFXVVGHOHJDWHVLQPRUHGHWDLOLQWKHQH[W
VHFWLRQ
7KHH[DPSOHDSSOLFDWLRQVWKDWZHZLOOFUHDWHLQWKLVFKDSWHUZLOOLQVWDOOWKUHDGVSHFLILFKRRNV
8QIRUWXQDWHO\DVZLWK9%G\QDPLFOLQNOLEUDULHV'//V \RXFDQQRWXVH9%1(7'//VWR
LQVWDOOV\VWHPZLGHKRRNV7RLQVWDOODV\VWHPZLGHKRRN\RXPXVWSODFHWKHFRGHWRLQVWDOO
DQGUHPRYHWKHKRRNDVZHOODVWKHILOWHUIXQFWLRQLWVHOIZLWKLQD:LQ'//
WKLV'//XVLQJ9LVXDO&RU9LVXDO&1(71RWHWKDWLI\RXDUHXVLQJ9LVXDO&1(7
\RXPXVWZULWHWKH'//DVXQPDQDJHGFRGH
$VDQRWHWKHIROORZLQJIXQFWLRQVZLOOEHUHPRYHGDIWHU%HWD Microsoft.Win32.Interop.Windows.SetWindowsHookEx Microsoft.Win32.Interop.Windows.UnhookWindowsHookEx Microsoft.Win32.Interop.Windows.CallNextHookEx
,QVWHDGRIXVLQJWKHVHIXQFWLRQV\RXVKRXOGXVHWKHQRUPDOPHWKRGRIGHFODULQJDSSOLFDWLRQ
SURJUDPPLQJLQWHUIDFH$3, IXQFWLRQVWKDW\RXKDYHEHFRPHDFFXVWRPHGWRLQ9%
VKRXOGXVHWKHIROORZLQJGHFODUDWLRQV
3XEOLF'HFODUH)XQFWLRQ6HW:LQGRZV+RRN([/LEXVHU$OLDV6HW:LQGRZV+RRN([$B %\9DO+RRN,'$V,QWHJHU%\9DOOSIQ$V+RRN&DOOEDFNB
%\9DOK0RGXOH$V,QWHJHU%\9DO7KUHDG,G$V,QWHJHU $V,QWHJHU
3XEOLF'HFODUH)XQFWLRQ8QKRRN:LQGRZV+RRN([/LEXVHUB $OLDV8QKRRN:LQGRZV+RRN([B
%\9DOK+RRN$V,QWHJHU $V,QWHJHU
3XEOLF'HFODUH)XQFWLRQ&DOO1H[W+RRN([/LEXVHU$OLDV&DOO1H[W+RRN([B
%\9DOK+RRN$V,QWHJHU%\9DO&RGH$V,QWHJHU%\9DOZ3DUDP$V,QWHJHUB
%\9DOO3DUDP$V,QWHJHU $V,QWHJHU
'DWDW\SHVKDYHDOVRFKDQJHGIURP9%WR9%1(77KH/RQJW\SHLQ9%ZDVFKDQJHGWR
DQ,QWHJHULQ9%1(7$OVRWKH$Q\W\SHWKDWLVVRPHWLPHVXVHGLQ$3,GHFODUDWLRQVLVQRZ
JRQHDVDUH9DULDQWV,QVWHDGRIXVLQJWKH$Q\RU9DULDQWGDWDW\SHV\RXVKRXOGGHFODUHWKH
VSHFLILFW\SHWKDW\RXZLOOEHXVLQJ,QPRVWLQVWDQFHV\RXZLOOEHZRUNLQJZLWKSRLQWHUV
WKHUHIRUH\RXVKRXOGXVHWKH,QWHJHUGDWDW\SH
'HOHJDWHV 'HOHJDWHVDUHRQHRIWKHODWHVWDGGLWLRQVWRWKH9%1(7ODQJXDJH'HOHJDWHVDUHFODVVHVWKDW
LQKHULWIURPHLWKHU6\VWHP'HOHJDWHRU6\VWHP0XOWLFDVW'HOHJDWH,Q9%1(7GHOHJDWHVE\ GHIDXOWLQKHULWIURP6\VWHP0XOWLFDVW'HOHJDWH$GHOHJDWHLVDFODVVWKDWDFWVDVDZUDSSHU
DURXQGDIXQFWLRQSRLQWHU7KLVDOORZVIXQFWLRQSRLQWHUVRUGHOHJDWHVWREHREMHFWRULHQWHG W\SHVDIHDQGVHFXUH
$GHOHJDWHFDQSRLQWWRERWKDVKDUHGIXQFWLRQDQGRQHWKDWLVDVVRFLDWHGZLWKDQLQVWDQFHRI
DFODVV$GHOHJDWHWKDWLQKHULWVIURPWKH6\VWHP'HOHJDWHFODVVFDQRQO\SRLQWWRDVLQJOH
IXQFWLRQDWDQ\RQHWLPH7KHGHOHJDWHWKDWLQKHULWVIURPWKH6\VWHP0XOWLFDVW'HOHJDWHFODVV
KRZHYHUFDQSRLQWWRDOLVWRIIXQFWLRQVDOORIZKLFKDUHFDOOHGLQVXFFHVVLRQZKHQWKLVW\SHRI
GHOHJDWHLVXVHG7KHWKLQJWRZDWFKRXWIRUZKHQXVLQJPXOWLFDVWGHOHJDWHVLVWKDWLIWKH
IXQFWLRQVWKHGHOHJDWHSRLQWVWRKDYHDUHWXUQYDOXHWKHGHOHJDWH VILQDOUHWXUQYDOXHLVWKH
UHWXUQYDOXHRIWKHODVWIXQFWLRQWKHGHOHJDWHFDOOV)RUWKLVUHDVRQ\RXVKRXOGXVHGHOHJDWHV
WKDWSRLQWWRDVLQJOHIXQFWLRQZKHQLPSOHPHQWLQJKRRNV
$6LPSOH([DPSOH8VLQJ'HOHJDWHV 7REHWWHUXQGHUVWDQGGHOHJDWHVOHW VH[DPLQHDVLPSOHH[DPSOHWKDWVKRZVKRZWRVHWXS
DQGXVHERWKWKHGHOHJDWHDQGPXOWLFDVWGHOHJDWH)LJXUHSUHVHQWVDVFUHHQVKRWRI
WKLVH[DPSOHDSSOLFDWLRQ7DEOHSUHVHQWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWV
FRQWUROV
)LJXUH6FUHHQVKRWRIWKHGHOHJDWHH[DPSOHDSSOLFDWLRQ
7DEOH1RQGHIDXOW3URSHUWLHVRIWKH([DPSOH$SSOLFDWLRQ V)RUPDQG,WV&RQWUROV &RQWURO
3URSHUW\1DPH
9DOXH
)RUP
&DSWLRQ
'HOHJDWH([DPSOH
)RUP
+HLJKW
)RUP
:LGWK
%XWWRQ
&DSWLRQ
6LQJOH
%XWWRQ
7RS
%XWWRQ
/HIW
%XWWRQ
+HLJKW
%XWWRQ
:LGWK
%XWWRQ
&DSWLRQ
&RPELQH
%XWWRQ
7RS
%XWWRQ
/HIW
%XWWRQ
+HLJKW
%XWWRQ
:LGWK
7H[W%R[
0XOWL/LQH
7UXH
7H[W%R[
:RUG:UDS
)DOVH
7H[W%R[
6FUROO%DUV
%RWK
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
7KLVDSSOLFDWLRQFRQWDLQVWZREXWWRQVDQGDWH[WER[ZKLFKGLVSOD\VWKHRXWSXWIURPWKH
GHOHJDWHFDOOV7KH6LQJOHEXWWRQFUHDWHVDGHOHJDWHELQGVLWWRDVLQJOHIXQFWLRQDQGWKHQ
FDOOVWKLVGHOHJDWH7KLVFDOOEDFNIXQFWLRQZULWHVWKHIROORZLQJWH[WWRWKHWH[WER[
&DOOEDFNIXQFWLRQ&%FDOOHG
1DPH 'HEXJ
:LWKLQWKLVVDPHFDOOWKHGHOHJDWHLVVHWWRSRLQWWRDGLIIHUHQWIXQFWLRQDQGWKHGHOHJDWHLV
RQFHDJDLQFDOOHG7KLVVHFRQGFDOOEDFNIXQFWLRQZULWHVWKHIROORZLQJWH[WWRWKHWH[WER[
&DOOEDFNIXQFWLRQ&%FDOOHG
1DPH 5HOHDVH
:KHQ\RXFOLFNWKH&RPELQHEXWWRQLWFUHDWHVWZRGHOHJDWHVDQGWKHQFRPELQHVWKHPWRIRUP
DWKLUGPXOWLFDVWGHOHJDWHZKLFKLWWKHQFDOOV7KHIROORZLQJWH[WLVZULWWHQWRWKHWH[WER[ZKHQ
WKHPXOWLFDVWGHOHJDWHLVFDOOHG
&DOOEDFNIXQFWLRQ&%FDOOHG
1DPH 0XOWL)LUH'HOHJDWH
&DOOEDFNIXQFWLRQ&%FDOOHG
1DPH 0XOWL)LUH'HOHJDWH
([DPSOHSUHVHQWVWKHFRGHWRSHUIRUPWKHVHWDVNV7KHFRGHLQEROGIDFHVKRZVKRZ
\RXVHWXSDQGXVHWKHGHOHJDWHV
([DPSOH&RGHLQWKH)RUPYE)LOHIRUWKH'HOHJDWH([DPSOH$SSOLFDWLRQ ,PSRUWV6\VWHP&RPSRQHQW0RGHO
,PSRUWV6\VWHP'UDZLQJ
,PSRUWV6\VWHP:LQ)RUPV
3XEOLF&ODVV)RUP
,QKHULWV6\VWHP:LQ)RUPV)RUP
3XEOLF6XE1HZ 0\%DVH1HZ )RUP 0H
7KLVFDOOLVUHTXLUHGE\WKH:LQ)RUP'HVLJQHU
,QLWLDOL]H&RPSRQHQW (QG6XE
)RUPRYHUULGHVGLVSRVHWRFOHDQXSWKHFRPSRQHQWOLVW
2YHUULGHV3XEOLF6XE'LVSRVH 0\%DVH'LVSRVH
FRPSRQHQWV'LVSRVH (QG6XE
5HJLRQ:LQGRZV)RUP'HVLJQHUJHQHUDWHGFRGH
5HTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
3ULYDWHFRPSRQHQWV$V6\VWHP&RPSRQHQW0RGHO&RQWDLQHU 3ULYDWH:LWK(YHQWV%XWWRQ$V6\VWHP:LQ)RUPV%XWWRQ
3ULYDWH:LWK(YHQWV%XWWRQ$V6\VWHP:LQ)RUPV%XWWRQ
3ULYDWH:LWK(YHQWV7H[W%R[$V6\VWHP:LQ)RUPV7H[W%R[
'LP:LWK(YHQWV)RUP$V6\VWHP:LQ)RUPV)RUP
127(7KHIROORZLQJSURFHGXUHLVUHTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
,WFDQEHPRGLILHGXVLQJWKH:LQGRZV)RUP'HVLJQHU 'RQRWPRGLI\LWXVLQJWKHFRGHHGLWRU 3ULYDWH6XE,QLWLDOL]H&RPSRQHQW
0HFRPSRQHQWV 1HZ6\VWHP&RPSRQHQW0RGHO&RQWDLQHU 0H%XWWRQ 1HZ6\VWHP:LQ)RUPV%XWWRQ 0H%XWWRQ 1HZ6\VWHP:LQ)RUPV%XWWRQ
0H7H[W%R[ 1HZ6\VWHP:LQ)RUPV7H[W%R[
#GHVLJQ0H7UD\+HLJKW
#GHVLJQ0H7UD\/DUJH,FRQ )DOVH
#GHVLJQ0H7UD\$XWR$UUDQJH 7UXH
%XWWRQ/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW %XWWRQ6L]H 1HZ6\VWHP'UDZLQJ6L]H %XWWRQ7DE,QGH[
%XWWRQ7H[W 6LQJOH
%XWWRQ/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
%XWWRQ6L]H 1HZ6\VWHP'UDZLQJ6L]H %XWWRQ7DE,QGH[
%XWWRQ7H[W &RPELQH
7H[W%R[/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW 7H[W%R[0XOWLOLQH 7UXH
7H[W%R[6FUROO%DUV 6\VWHP:LQ)RUPV6FUROO%DUV%RWK 7H[W%R[:RUG:UDS )DOVH
7H[W%R[7DE,QGH[
7H[W%R[6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H7H[W 'HOHJDWH([DPSOH
0H$XWR6FDOH%DVH6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&OLHQW6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&RQWUROV$GG%XWWRQ 0H&RQWUROV$GG%XWWRQ
0H&RQWUROV$GG7H[W%R[ (QG6XE
(QG5HJLRQ
&UHDWHWKHGHOHJDWH
'HOHJDWH6XE0\&DOO%DFN%\9DO1DPH$V6WULQJ
&DOOEDFNIXQFWLRQ
3XEOLF6XE&%%\9DO1DPH$V6WULQJ
7H[WER[7H[W &DOOEDFNIXQFWLRQ&%FDOOHGFKU FKU 7H[WER[7H[W 1DPH 1DPH FKU FKU (QG6XE
&DOOEDFNIXQFWLRQ
3XEOLF6XE&%%\9DO1DPH$V6WULQJ
7H[WER[7H[W &DOOEDFNIXQFWLRQ&%FDOOHG FKU FKU
7H[WER[7H[W 1DPH 1DPH FKU FKU (QG6XE
&DOOGHOHJDWH
3URWHFWHG6XE%XWWRQB&OLFN%\9DOVHQGHU$V2EMHFW%\9DOH$V6\VWHP(YHQW$UJV 'LP0\'HOHJDWH$V0\&DOO%DFN
3RLQWWKHGHOHJDWHWRIXQFWLRQ&%DQGFDOOLW
0\'HOHJDWH $GGUHVV2I&%
0\'HOHJDWH'HEXJ
1RZSRLQWWKHGHOHJDWHWRIXQFWLRQ&%DQGFDOOLW
0\'HOHJDWH $GGUHVV2I&%
0\'HOHJDWH5HOHDVH
(QG6XE
3URWHFWHG6XE%XWWRQB&OLFN%\9DOVHQGHU$V2EMHFW%\9DOH$V6\VWHP(YHQW$UJV 'LP0\'HOHJDWH$V0\&DOO%DFN 'LP0\'HOHJDWH$V0\&DOO%DFN 'LP0\'HOHJDWH$V0\&DOO%DFN
3RLQWGHOHJDWHVWRWKHLUUHVSHFWLYHIXQFWLRQ 0\'HOHJDWH $GGUHVV2I&%
0\'HOHJDWH $GGUHVV2I&%
&UHDWHDGHOHJDWHWKDWFRPELQHVWKHILUVWWZRGHOHJDWHVDQGFDOOLW
0\'HOHJDWH &7\SH6\VWHP'HOHJDWH&RPELQH0\'HOHJDWH0\'HOHJDWH B
0\&DOOEDFN
0\'HOHJDWH0XOWL)LUH'HOHJDWH
(QG6XE (QG&ODVV
:HDUHPRVWLQWHUHVWHGLQWKHFRGHDWWKHERWWRPRI([DPSOHLQZKLFKDGHOHJDWH QDPHG0\&DOOEDFNLVFUHDWHG7KHIROORZLQJOLQHRIFRGHFUHDWHVWKLVGHOHJDWH
'HOHJDWH6XE0\&DOO%DFN%\9DO1DPH$V6WULQJ
7KH,/RULQWHUPHGLDWHODQJXDJH FRGHWKDWWKHOLQHRI
FRGHWKDWFUHDWHVWKHGHOHJDWHJHQHUDWHVLVDVIROORZV FODVV
DXWRDQVLVHDOHGQHVWHGSXEOLF)RUP0\&DOO%DFN H[WHQGV
>PVFRUOLE@6\VWHP0XOWLFDVW'HOHJDWH ^
`HQGRIFODVV
)RUP0\&DOO%DFN
As we see here, a delegate is truly a class that inherits from System.MulticastDelegate.
1H[WWZRVXEURXWLQHV&%DQG&%DUHGHFODUHGWKDWPDWFKWKHGHOHJDWH VSDUDPHWHUV
1RWLFHWKDWERWKIXQFWLRQVDOVRDUHGHFODUHGDV6XEVH[DFWO\DVWKHGHOHJDWHZDVSUHYLRXVO\
GHFODUHG
,QWKH%XWWRQB&OLFNHYHQWDQLQVWDQFHRIWKHGHOHJDWHLVFUHDWHGDVIROORZV
'LP0\'HOHJDWH$V0\&DOO%DFN
7KH0\'HOHJDWHUHIHUHQFHWRWKH0\&DOO%DFNGHOHJDWHLVERXQGWRWKH&%IXQFWLRQE\XVLQJ
WKH$GGUHVV2INH\ZRUG7KHFRGHWRSHUIRUPWKLVLVDVIROORZV 0\'HOHJDWH $GGUHVV2I&%
$IWHUWKHGHOHJDWHLVERXQGWRWKHIXQFWLRQZHFDQFDOOWKHIXQFWLRQWKURXJKWKHUHIHUHQFHWR
RXUGHOHJDWHREMHFW7KHFRGHWRSHUIRUPWKLVLVDVIROORZV
0\'HOHJDWH'HEXJ
,QWKH%XWWRQB&OLFNHYHQWWKUHHGHOHJDWHVDUHGHFODUHG7KHILUVWDQGVHFRQGGHOHJDWHVDUH
ERXQGWRIXQFWLRQV&%DQG&%UHVSHFWLYHO\7KHWKLUGGHOHJDWHKRZHYHUXVHVWKH
&RPELQHPHWKRGWRDGGWKHILUVWWZRGHOHJDWHVWRWKHOLVWRIGHOHJDWHVWKDWLWPXVWFDOO7KH
FRGHWRSHUIRUPWKLVLVDVIROORZV
0\'HOHJDWH &7\SH6\VWHP'HOHJDWH&RPELQH0\'HOHJDWH0\'HOHJDWH 0\&DOOEDFN
7KH&RPELQHPHWKRGWDNHVWZRGHOHJDWHVDVSDUDPHWHUVFRPELQHVWKHPLQWRDVLQJOH
PXOWLFDVWGHOHJDWHDQGUHWXUQVWKLVPXOWLFDVWGHOHJDWH7KH&7\SHIXQFWLRQFRQYHUWVWKH
UHWXUQHGGHOHJDWHYDOXHIURPWKH&RPELQHPHWKRGLQWRD0\&DOO%DFNGDWDW\SH
1RZZKHQ\RXXVHWKH0\'HOHJDWHGHOHJDWHWKHIXQFWLRQVWKDW0\'HOHJDWHDQG
0\'HOHJDWHSRLQWWRDUHFDOOHGVXFFHVVLYHO\
,PSOHPHQWLQJWKH:+B.(<%2$5'+RRN :KHQLPSOHPHQWLQJDQ\W\SHRIKRRNLQ9%1(7\RXVKRXOGIROORZWKHUXOHVVWDWHGLQ
&KDSWHUIRUVHWWLQJXSDQGXVLQJKRRNV,QRWLFHGWKDWLIDKRRNLVQRWUHPRYHGEHIRUHWKH
DSSOLFDWLRQHQGVXVLQJWKH8Q+RRN:LQGRZV+RRN([$3,IXQFWLRQWKHDSSOLFDWLRQGRHVQRW
FUDVKDVLWQRUPDOO\ZRXOGLQDSUHYLRXVYHUVLRQRI9%+RZHYHU,DOZD\VLQFRUSRUDWHFRGHWR
UHPRYHDKRRNDIWHULWLVLQVWDOOHG
5HPHPEHU\RXFDQLQVWDOOKRRNVRQRQHWKUHDGDWDWLPHRURQHYHU\WKUHDGLQWKHV\VWHP
7KHUHIRUHLI\RXFUHDWHPXOWLSOHWKUHDGVLQ\RXUDSSOLFDWLRQDQG\RXLQVWDOODWKUHDGVSHFLILF
KRRNWKHKRRNZLOOFDSWXUHLQIRUPDWLRQRQO\IRUWKDWVSHFLILFWKUHDG,I\RXZDQWWRFDSWXUH
LQIRUPDWLRQIRUPRUHWKDQRQHWKUHDGLQ\RXUDSSOLFDWLRQ\RXPXVWLQVWDOOWKHKRRNRQHDFK
WKUHDG5HPHPEHUWRUHPRYHWKHKRRNIURPHDFKWKUHDGEHIRUHWKHWKUHDGLVGHVWUR\HG
7KH$SSOLFDWLRQ )LJXUHSUHVHQWVWKH:+B.(<%2$5'KRRNDSSOLFDWLRQ VXVHULQWHUIDFH8, 7DEOH
SUHVHQWVWKHQRQGHIDXOWSURSHUWLHVRIWKHIRUPDQGLWVFRQWUROV7KLVDSSOLFDWLRQLVIDLUO\
VLPSOH7KHUHDUHWZREXWWRQVDQGDWH[WER[RQWKHIRUP7KH+RRNEXWWRQFDOOV
6HW:LQGRZV+RRN([WRLQVWDOOWKH:+B.(<%2$5'KRRNDQGWKH8Q+RRNEXWWRQFDOOV
8QKRRN:LQGRZV+RRN([WRUHPRYHWKHKRRN7KHWH[WER[GLVSOD\VWKHWKUHHSDUDPHWHUVRI WKHKRRN VILOWHUIXQFWLRQ&RGHO3DUDPDQGZ3DUDP
)LJXUH7KH:+B.(<%2$5'KRRNH[DPSOHDSSOLFDWLRQVFUHHQVKRW
7DEOH1RQGHIDXOW3URSHUWLHVRIWKH([DPSOH$SSOLFDWLRQ V)RUPDQG,WV&RQWUROV &RQWURO )RUP
3URSHUW\1DPH &DSWLRQ
9DOXH 9%1(7+RRNLQJ([DPSOH
)RUP
+HLJKW
)RUP
:LGWK
%XWWRQ
&DSWLRQ
+RRN
%XWWRQ
7RS
%XWWRQ
/HIW
%XWWRQ
+HLJKW
%XWWRQ
:LGWK
%XWWRQ
&DSWLRQ
8Q+RRN
%XWWRQ
7RS
%XWWRQ
/HIW
%XWWRQ
+HLJKW
%XWWRQ
:LGWK
7H[W%R[
0XOWL/LQH
7UXH
7H[W%R[
:RUG:UDS
)DOVH
7H[W%R[
6FUROO%DUV
%RWK
7H[W%R[
7RS
7H[W%R[
/HIW
7H[W%R[
+HLJKW
7H[W%R[
:LGWK
7RXVHWKHDSSOLFDWLRQFOLFNWKH+RRNEXWWRQ1H[WW\SHLQVRPHWH[WPDNLQJVXUHWKDWWKH
WH[WER[GRHVQRWKDYHWKHIRFXV,IWKHWH[WER[KDVWKHIRFXVWKHWH[WZLOORYHUZULWHLWVHOIDV
\RXW\SHPDNLQJIRUDYHU\PHVV\GLVSOD\+RZHYHULI\RXVLPSO\FOLFNWKH+RRNEXWWRQDQG
LPPHGLDWHO\VWDUWWRW\SH\RXZLOOVHHWKHILOWHUIXQFWLRQ VSDUDPHWHUVGLVSOD\HG:KHQ\RXDUH
GRQHFOLFNWKH8Q+RRNEXWWRQDQGFORVHWKHDSSOLFDWLRQ
)RUPRUHLQIRUPDWLRQRQKRZWKH:+B.(<%2$5'KRRN
ZRUNVVHH&KDSWHU
7KH9%)LOH ([DPSOHSUHVHQWVWKHFRGHFRQWDLQHGLQWKH)RUPYEILOH ([DPSOH7KH&RGH&RQWDLQHGLQWKH)RUPYE)LOHIRUWKH:+B.(<%2$5'+RRN
([DPSOH$SSOLFDWLRQ
,PSRUWV6\VWHP&RPSRQHQW0RGHO
,PSRUWV6\VWHP'UDZLQJ
,PSRUWV6\VWHP:LQ)RUPV
,PSRUWV6\VWHP5XQWLPH,QWHURS6HUYLFHV
02'8/(6(&7,21
3XEOLF0RGXOHPRG
GHFODUHGHOHJDWHREMHFW
'HOHJDWH)XQFWLRQ+RRN&DOOEDFN%\9DO&RGH$V,QWHJHU%\9DOZ3DUDP$V,QWHJHUB
%\9DOO3DUDP$V,QWHJHU $V,QWHJHU
GHFODUH$3, V
3XEOLF'HFODUH)XQFWLRQ6HW:LQGRZV+RRN([/LEXVHUB
$OLDV6HW:LQGRZV+RRN([$B
%\9DO+RRN,'$V,QWHJHU%\9DOOSIQ$V+RRN&DOOEDFNB
%\9DOK0RGXOH$V,QWHJHU%\9DO7KUHDG,G$V,QWHJHU $V,QWHJHU 3XEOLF'HFODUH)XQFWLRQ8QKRRN:LQGRZV+RRN([/LEXVHUB $OLDV8QKRRN:LQGRZV+RRN([B
%\9DOK+RRN$V,QWHJHU $V,QWHJHU
3XEOLF'HFODUH)XQFWLRQ&DOO1H[W+RRN([/LEXVHU$OLDV&DOO1H[W+RRN([B
%\9DOK+RRN$V,QWHJHU%\9DO&RGH$V,QWHJHU%\9DOZ3DUDP$V,QWHJHUB
%\9DOO3DUDP$V,QWHJHU $V,QWHJHU
*OREDOFRQVWDQWV
3XEOLF&RQVW:+B.(<%2$5'$V,QWHJHU
3ULYDWHPBK+RRN$V,QWHJHU
3URSHUW\WRDFFHVVKRRNKDQGOH 3URSHUW\K+RRN $V,QWHJHU 6HW
,IPBK+RRN!$QG9DOXH!7KHQ
'RQ WRYHUZULWHWKHKDQGOH
8QOHVVLWLVEHLQJUHVHWWR (OVH
PBK+RRN 9DOXH (QG,I (QG6HW
*HW
K+RRN PBK+RRN (QG*HW
(QG3URSHUW\ (QG0RGXOH
)2506(&7,21
3XEOLF&ODVV)RUP
,QKHULWV6\VWHP:LQ)RUPV)RUP
GHFODUHQHVWHGFODVVYDU 3XEOLFKN$V+RRN
GHFODUHGHOHJDWHREMHFW
3XEOLFFE$V+RRN&DOOEDFN
1(67('&/$66FRQWDLQLQJWKHFDOOEDFN+RRN3URF
3XEOLF&ODVV+RRN
UHIHUHQFHEDFNWRWKHIRUP 3ULYDWH7KH:LQ$V)RUP
FWRUXVHGWRJHWDUHIHUHQFHWRWKHPDLQZLQGRZ
LQRUGHUWRZULWHLQIRWRWKHWH[WER[WH[WER[
3XEOLF6XE1HZ%\9DO0DLQ:QG$V)RUP 7KH:LQ 0DLQ:QG (QG6XE
+22.352&
3XEOLF)XQFWLRQ+RRN3URF%\9DO&RGH$V,QWHJHU%\9DOZ3DUDP$V,QWHJHUB
%\9DOO3DUDP$V,QWHJHU $V,QWHJHU
7KH:LQ3ULQW7[W&RGH &RGH Z3DUDP Z3DUDP B
O3DUDP O3DUDP
+RRN3URF &DOO1H[W+RRN([K+RRN&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
(QG&ODVV
67$57+(5(GHIDXOWFWRUIRU)RUPFODVV 3XEOLF6XE1HZ 0\%DVH1HZ )RUP 0H
7KLVFDOOLVUHTXLUHGE\WKH:LQ)RUP'HVLJQHU ,QLWLDOL]H&RPSRQHQW
LQVWDQWLDWHDQHZQHVWHG+RRNFODVVDQGSDVVLQDUHIHUHQFHWRWKLVIRUP
KN 1HZ+RRN0H
LQVWDQWLDWHDQHZGHOHJDWHREMHFWSRLQWLQJWRWKH+RRN3URFIXQFWLRQ
LQWKHQHVWHGFODVV
FE 1HZ+RRN&DOOEDFN$GGUHVV2IKN+RRN3URF (QG6XE
XVHGE\)RUPWRDGGWH[WWRWKHWH[WER[WH[WER[FDOOHGE\+RRN3URF
3XEOLF6XE3ULQW7[W%\9DOVWU2XWSXW$V6WULQJ
W[W2XWSXW7H[W W[W2XWSXW7H[W VWU2XWSXW FKU FKU (QG6XE
)RUPRYHUULGHVGLVSRVHWRFOHDQXSWKHFRPSRQHQWOLVW
3XEOLF2YHUULGHV6XE'LVSRVH
0\%DVH'LVSRVH
FRPSRQHQWV'LVSRVH (QG6XE
5(*8/$5:,1'2:61(7678))
5HJLRQ:LQGRZV)RUP'HVLJQHUJHQHUDWHGFRGH 5HTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
3ULYDWHFRPSRQHQWV$V6\VWHP&RPSRQHQW0RGHO&RQWDLQHU
3ULYDWH:LWK(YHQWVEWQ8Q+RRN$V6\VWHP:LQ)RUPV%XWWRQ
3ULYDWH:LWK(YHQWVEWQ+RRN$V6\VWHP:LQ)RUPV%XWWRQ
3ULYDWH:LWK(YHQWVW[W2XWSXW$V6\VWHP:LQ)RUPV7H[W%R[
'LP:LWK(YHQWV)RUP$V6\VWHP:LQ)RUPV)RUP
127(7KHIROORZLQJSURFHGXUHLVUHTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
,WFDQEHPRGLILHGXVLQJWKH:LQGRZV)RUP'HVLJQHU 'RQRWPRGLI\LWXVLQJWKHFRGHHGLWRU 3ULYDWH6XE,QLWLDOL]H&RPSRQHQW
0HFRPSRQHQWV 1HZ6\VWHP&RPSRQHQW0RGHO&RQWDLQHU 0HW[W2XWSXW 1HZ6\VWHP:LQ)RUPV7H[W%R[
0HEWQ8Q+RRN 1HZ6\VWHP:LQ)RUPV%XWWRQ 0HEWQ+RRN 1HZ6\VWHP:LQ)RUPV%XWWRQ
#GHVLJQ0H7UD\+HLJKW
#GHVLJQ0H7UD\/DUJH,FRQ )DOVH
#GHVLJQ0H7UD\$XWR$UUDQJH 7UXH
W[W2XWSXW/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
W[W2XWSXW0XOWLOLQH 7UXH
W[W2XWSXW6FUROO%DUV 6\VWHP:LQ)RUPV6FUROO%DUV%RWK
W[W2XWSXW7DE,QGH[
W[W2XWSXW6L]H 1HZ6\VWHP'UDZLQJ6L]H
EWQ8Q+RRN/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
EWQ8Q+RRN6L]H 1HZ6\VWHP'UDZLQJ6L]H EWQ8Q+RRN7DE,QGH[
EWQ8Q+RRN7H[W 8Q+RRN
EWQ+RRN/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW
EWQ+RRN6L]H 1HZ6\VWHP'UDZLQJ6L]H EWQ+RRN7DE,QGH[
EWQ+RRN7H[W +RRN
0H7H[W 9%1(7+RRNLQJ([DPSOH
0H$XWR6FDOH%DVH6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&OLHQW6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&RQWUROV$GGEWQ8Q+RRN
0H&RQWUROV$GGEWQ+RRN
0H&RQWUROV$GGW[W2XWSXW (QG6XE
(QG5HJLRQ
(9(17+$1'/(56)25%87721&21752/6
3URWHFWHG6XEEWQ8Q+RRNB&OLFN%\9DOVHQGHU$V2EMHFWB
%\9DOH$V6\VWHP(YHQW$UJV ,QVWDOOKRRN
PVJER[8QKRRN:LQGRZV+RRN([UHWXUQHG 8QKRRN:LQGRZV+RRN([K+RRN
K+RRN
(QG6XE
3URWHFWHG6XEEWQ+RRNB&OLFN%\9DOVHQGHU$V2EMHFW%\9DOH$V6\VWHP(YHQW$UJV 5HPRYHKRRN
K+RRN 6HW:LQGRZV+RRN([:+B.(<%2$5'FEDSSGRPDLQ*HW&XUUHQW7KUHDG,G
PVJER[6HW:LQGRZV+RRN([UHWXUQHG K+RRN
(QG6XE (QG&ODVV
7KUHHFODVVHVDUHLQFOXGHGZLWKWKHFRGHIRUWKLVH[DPSOH7KHILUVWLVDSXEOLFPRGXOHFDOOHG
PRG7KLVPRGXOHFRQWDLQVWKHGHOHJDWHGHFODUDWLRQWKH:LQ$3,IXQFWLRQGHFODUDWLRQV WKH:+B.(<%2$5'KRRNFRQVWDQWWKHKRRNKDQGOHYDULDEOHPBK+RRN DQGDSURSHUW\
XVHGWRDFFHVVWKHKRRNKDQGOHK+RRN
7KHFRPSLOHUDFWXDOO\FRQYHUWVPRGXOHW\SHVGHFODUHGLQ9%1(7DSSOLFDWLRQV
WRVLPSOHSXEOLFFODVVW\SHV7KHPRGPRGXOHW\SHLVFRQYHUWHGWRWKH IROORZLQJ,/ FODVVSXEOLFDXWRDQVLPRG
H[WHQGV>PVFRUOLE@6\VWHP2EMHFW ^
FXVWRPLQVWDQFH YRLG
>0LFURVRIW9LVXDO%DVLF@0LFURVRIW9LVXDO%DVLF*OREDOV*OREDOV6WDQGDUG0RGXOH$WWULEXWHFWRU `HQGRI
FODVVPRG 0RGXOHW\SHVLQKHULWIURP6\VWHP2EMHFWDQG\RXXVXDOO\XVHWKHPWRGHFODUHJOREDOW\SHV
7KHVHFRQGFODVVGHFODUHGLV)RUP)RUPLQKHULWVIURPWKH6\VWHP:LQ)RUPV)RUPFODVV
DQGLVWKHRQO\ZLQGRZLQRXUDSSOLFDWLRQ7KLVFODVVFRQWDLQVWKHFRGHWKDWWKH9%1(7
DSSOLFDWLRQZL]DUGDXWRPDWLFDOO\FUHDWHVIRU\RXWKHHYHQWKDQGOHUVIRUHDFKEXWWRQFRQWURO
DQGDQHVWHGFODVVQDPHG+RRN7KLVFODVVLVLQVWDQWLDWHGE\)RUP VFRQVWUXFWRU
WKLVFODVVPDLQO\WRFRQWDLQWKHILOWHUIXQFWLRQIRU\RXU:+B.(<%2$5'KRRNIXQFWLRQ +RRN3URF
:KHQ\RXVWDUWWKLVDSSOLFDWLRQWKHFRQVWUXFWRURIWKH)RUPFODVVLVFDOOHG7KLVFRQVWUXFWRU
FUHDWHVDQHZLQVWDQFHRIWKH+RRNFODVVDQGSDVVHVLWDUHIHUHQFHWRWKH)RUPFODVV0H
1H[WWKHFRQVWUXFWRUFUHDWHVDQHZLQVWDQFHRIWKH+RRN&DOOEDFNGHOHJDWHDQGELQGVLWWRWKH
+RRN3URFILOWHUIXQFWLRQFRQWDLQHGLQWKH+RRNFODVV7KLVFRGHLVSUHVHQWHGKHUH
LQVWDQWLDWHDQHZQHVWHG+RRNFODVVDQGSDVVLQDUHIHUHQFHWRWKLVIRUP
KN 1HZ+RRN0H
LQVWDQWLDWHDQHZGHOHJDWHREMHFWSRLQWLQJWRWKH+RRN3URFIXQFWLRQ
LQWKHQHVWHGFODVV
FE 1HZ+RRN&DOOEDFN$GGUHVV2IKN+RRN3URF
7KHUHIHUHQFHWRWKH+RRNREMHFWKN LVGHFODUHGDVDSXEOLFPHPEHUYDULDEOHRIWKH)RUP
FODVV7KHUHIHUHQFHWRWKHGHOHJDWHREMHFWFE DOVRLVGHFODUHGDVDSXEOLFPHPEHUYDULDEOH
RIWKH)RUPFODVV
:KHQWKHUHIHUHQFHWRWKH+RRNREMHFWKN LVFUHDWHGLQWKHFRQVWUXFWRURIWKH)RUPFODVV
WKHFRQVWUXFWRURIWKH+RRNFODVVLVLPPHGLDWHO\FDOOHGZLWKDUHIHUHQFHWRWKH)RUPREMHFW
DVDSDUDPHWHU7KHUHIHUHQFHWRWKH)RUPREMHFWLVSDVVHGWRWKH+RRNREMHFWVRWKDWWKH ILOWHUIXQFWLRQFRQWDLQHGZLWKLQWKH+RRNFODVVFDQZULWHWH[WRXWWRWKHWH[WER[FRQWDLQHGLQ
WKH)RUPREMHFW$OOFRQWUROVZLWKLQD)RUPREMHFWDUHVHWWR3ULYDWHDFFHVVWKHUHIRUHQR
FODVVQHVWHGRURWKHUZLVHFDQDFFHVVWKHVHFRQWUROV,QSUHYLRXVYHUVLRQVRI9%WKHIRUP
FRQWUROVKDGSXEOLFDFFHVVDQGZHGLGQRWKDYHWKLVSUREOHP
$IWHUWKH)RUPIRUPLVGLVSOD\HGWKHXVHUFDQFOLFNWKH+RRNEXWWRQ7KLVILUHVWKH
EWQ+RRNB&OLFNHYHQWZKLFKFDOOV6HW:LQGRZV+RRN([WRLQVWDOOWKH:+B.(<%2$5' VILOWHU
IXQFWLRQ$PHVVDJHER[LVGLVSOD\HGIROORZLQJWKLVFDOOWRGLVSOD\WKHKDQGOHWRWKHKRRN$
KRRNYDOXHRWKHUWKDQ]HURPHDQVWKDWWKHKRRNKDVVXFFHVVIXOO\EHHQLQVWDOOHG
$WWKLVSRLQWZKHQHYHUWKHXVHUSUHVVHVDNH\RQWKHNH\ERDUGWKH+RRN3URFILOWHUIXQFWLRQLV
FDOOHG7KLVIXQFWLRQFDOOVWKH3ULQW7[WPHWKRGLQWKH)RUPREMHFWZKLFKGLVSOD\VVRPHWH[W
LQWKHWH[WER[RQWKHIRUP7KHWH[WGLVSOD\HGLQFOXGHVWKHSDUDPHWHUVWRWKHILOWHUIXQFWLRQ
:KHQWKHXVHUFOLFNVWKH8Q+RRNEXWWRQWKH%WQ+RRNB&OLFNHYHQWLVILUHG7KLVHYHQWFDXVHV
8QKRRN:LQGRZV+RRN([WREHFDOOHGUHPRYLQJWKH:+B.(<%2$5'ILOWHUIXQFWLRQ$
PHVVDJHER[LVGLVSOD\HGVKRZLQJWKHUHWXUQYDOXHRIWKLVIXQFWLRQFDOODYDOXHRWKHUWKDQ
]HURPHDQVWKDWWKHKRRNKDVVXFFHVVIXOO\EHHQUHPRYHG
,PSOHPHQWLQJWKH:+B0286(+RRN
,DOVRFKRVHWRLQFOXGHD:+B0286(KRRNH[DPSOHEHFDXVHLWUHTXLUHVWKHXVHRIDXVHU
GHILQHGW\SH,Q9%1(7XVHUGHILQHGW\SHVDUHJRQHDQGDUHUHSODFHGE\VWUXFWXUHV7KH
H[DPSOHSUHVHQWHGKHUHZLOOH[SODLQKRZWRXVHDVWUXFWXUHLQSODFHRIDXVHUGHILQHGW\SH
,I\RXDUHJRLQJWRSRUWDQ\RIWKLVFRGHWR&\RXPXVW
DGGDQDWWULEXWHWRWKHVWUXFWXUHGHILQLWLRQ7KHIROORZLQJLV DQH[DPSOHRIWKLV >6WUXFW/D\RXW/D\RXW.LQG6HTXHQWLDO @ SXEOLFVWUXFW0286(+22.6758&7 ^
SXEOLFSW$V 32,17$3,
SXEOLFKZQG$V,QWHJHU
SXEOLFZ+LW7HVW&RGH$V,QWHJHU SXEOLFGZ([WUD,QIR$V,QWHJHU `
([DPLQLQJWKH,/WKDWWKH9%1(7DSSOLFDWLRQJHQHUDWHG ZHVHHWKHIROORZLQJ
FODVVYDOXHVHTXHQWLDODQVLVHDOHGQHVWHG SXEOLF
PRGO32,17$3,
H[WHQGV>PVFRUOLE@6\VWHP9DOXH7\SH ^
`HQGRIFODVV
PRG32,17$3,
7KHVWUXFWXUHLVDFWXDOO\FUHDWHGDVDFODVVWKDWLQKHULWV
IURPWKH6\VWHP9DOXH7\SHFODVVWKHZRUGH[WHQGVLQWKH SUHYLRXV,/FRGHLPSOLHVLQKHULWVIURP9%1(7
DXWRPDWLFDOO\PDUNVWKLVFODVVDVVHTXHQWLDO
7KH$SSOLFDWLRQ 7KLVDSSOLFDWLRQ V8,LVODLGRXWH[DFWO\DVLQWKHSUHYLRXVH[DPSOHRIWKH:+B.(<%2$5'
KRRNZKLFK)LJXUHVKRZV7KH+RRNEXWWRQLQVWDOOVWKH:+B0286(KRRNDQGWKH 8Q+RRNEXWWRQUHPRYHVWKLVKRRN
7KHILOWHUIXQFWLRQYDOXHVDUHSULQWHGWRWKHWH[WER[RQWKHIRUPZKHQHYHUWKLVKRRNLVFDOOHG
7RVHHPHVVDJHVZULWWHQRXWWRWKLVWH[WER[PRYHWKHPRXVHRUFOLFNRQHRILWVEXWWRQV
7KH9%)LOH ([DPSOHSUHVHQWVWKHFRGHFRQWDLQHGLQWKH)RUPYEILOHWKHPRGLILFDWLRQVQHHGHG
WRXVHVWUXFWXUHVZLWKWKH0+B0286(KRRNDSSHDULQEROGIDFH
([DPSOH7KH&RGH&RQWDLQHGLQWKH)RUPYE)LOHIRUWKH:+B0286(+RRN([DPSOH
$SSOLFDWLRQ
,PSRUWV6\VWHP'UDZLQJ
,PSRUWV6\VWHP:LQ)RUPV
,PSRUWV6\VWHP5XQWLPH,QWHURS6HUYLFHV
,PSRUWV6\VWHP&RPSRQHQW0RGHO
02'8/(6(&7,21
3XEOLF0RGXOHPRG
GHFODUHGHOHJDWHREMHFW
'HOHJDWH)XQFWLRQ+RRN&DOOEDFN%\9DO&RGH$V,QWHJHU%\9DOZ3DUDP$V,QWHJHUB
%\9DOO3DUDP$V,QWHJHU $V,QWHJHU
GHFODUH$3, V
3XEOLF'HFODUH)XQFWLRQ6HW:LQGRZV+RRN([/LEXVHU$OLDV6HW:LQGRZV+RRN([$B
%\9DO+RRN,'$V,QWHJHU%\9DOOSIQ$V+RRN&DOOEDFNB
%\9DOK0RGXOH$V,QWHJHU%\9DO7KUHDG,G$V,QWHJHU $V,QWHJHU 3XEOLF'HFODUH)XQFWLRQ8QKRRN:LQGRZV+RRN([/LEXVHUB $OLDV8QKRRN:LQGRZV+RRN([B
%\9DOK+RRN$V,QWHJHU $V,QWHJHU
3XEOLF'HFODUH)XQFWLRQ&DOO1H[W+RRN([/LEXVHU$OLDV&DOO1H[W+RRN([B
%\9DOK+RRN$V,QWHJHU%\9DO&RGH$V,QWHJHU%\9DOZ3DUDP$V,QWHJHUB
%\9DOO3DUDP$V,QWHJHU $V,QWHJHU
3XEOLF'HFODUH6XE&RS\0HPRU\/LENHUQHO$OLDV5WO0RYH0HPRU\B
%\5HI'HVWLQDWLRQ$VPRG0286(+22.6758&7%\9DO6RXUFH$V,QWHJHUB
%\9DO/HQJWK$V,QWHJHU
*OREDOFRQVWDQWV
3XEOLF&RQVW:+B0286($V,QWHJHU
6WUXFWXUH32,17$3,
3XEOLF[$V,QWHJHU
3XEOLF\$V,QWHJHU
(QG6WUXFWXUH
6WUXFWXUH0286(+22.6758&7
3XEOLFSW$V32,17$3,
3XEOLFKZQG$V,QWHJHU
3XEOLFZ+LW7HVW&RGH$V,QWHJHU 3XEOLFGZ([WUD,QIR$V,QWHJHU (QG6WUXFWXUH
3ULYDWHPBK+RRN$V,QWHJHU
3URSHUW\WRDFFHVVKRRNKDQGOH 3URSHUW\K+RRN $V,QWHJHU 6HW
,IPBK+RRN!$QG9DOXH!7KHQ
'RQ WRYHUZULWHWKHKDQGOH
8QOHVVLWLVEHLQJUHVHWWR (OVH
PBK+RRN 9DOXH (QG,I (QG6HW
*HW
K+RRN PBK+RRN (QG*HW
(QG3URSHUW\ (QG0RGXOH
)2506(&7,21
3XEOLF&ODVVIUP+RRN
,QKHULWV6\VWHP:LQ)RUPV)RUP
GHFODUHQHVWHGFODVVYDU 3XEOLFKN$V+RRN
GHFODUHGHOHJDWHREMHFW
3XEOLFFE$V+RRN&DOOEDFN
1(67('&/$66FRQWDLQLQJWKHFDOOEDFN+RRN3URF
3XEOLF&ODVV+RRN
UHIHUHQFHEDFNWRWKHIRUP
3ULYDWH7KH:LQ$VIUP+RRN
FWRUXVHGWRJHWDUHIHUHQFHWRWKHPDLQZLQGRZ
LQRUGHUWRZULWHLQIRWRWKHWH[WER[WH[WER[
3XEOLF6XE1HZ%\9DO0DLQ:QG$VIUP+RRN 7KH:LQ 0DLQ:QG (QG6XE
+22.352&
3XEOLF)XQFWLRQ+RRN3URF%\9DO&RGH$V,QWHJHU%\9DOZ3DUDP$V,QWHJHUB
%\9DOO3DUDP$V,QWHJHU $V,QWHJHU
'LP'HVW$V1HZPRG0286(+22.6758&7
&RS\0HPRU\'HVWO3DUDPVL]HRI'HVW
7KH:LQ3ULQW7[W'HVWKZQG 'HVWSW[ 'HVWSW\ B
'HVWZ+LW7HVW&RGH
+RRN3URF &DOO1H[W+RRN([K+RRN&RGHZ3DUDPO3DUDP
(QG)XQFWLRQ
(QG&ODVV
67$57+(5(GHIDXOWFWRUIRU)RUPFODVV 3XEOLF6XE1HZ 0\%DVH1HZ IUP+RRN 0H
,QLWLDOL]H&RPSRQHQW
LQVWDQWLDWHDQHZQHVWHG+RRNFODVVSDVVLQJLQDUHIHUHQFHWRWKLVIRUP
KN 1HZ+RRN0H
LQVWDQWLDWHDQHZGHOHJDWHREMHFWSRLQWLQJWRWKH+RRN3URFIXQFWLRQ
LQWKHQHVWHGFODVV
FE 1HZ+RRN&DOOEDFN$GGUHVV2IKN+RRN3URF (QG6XE
XVHGE\)RUPWRDGGWH[WWRWKHWH[WER[WH[WER[FDOOHGE\+RRN3URF
3XEOLF6XE3ULQW7[W%\9DOLS$V6WULQJ
WH[W%R[7H[W 7H[W%R[7H[W LS FKU FKU (QG6XE
5(*8/$5:,1'2:61(7678))
5HJLRQ:LQGRZV)RUP'HVLJQHUJHQHUDWHGFRGH
5HTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
3ULYDWHFRPSRQHQWV$V6\VWHP&RPSRQHQW0RGHO&RQWDLQHU 3ULYDWH:LWK(YHQWV%XWWRQ$V6\VWHP:LQ)RUPV%XWWRQ 3ULYDWH:LWK(YHQWV%XWWRQ$V6\VWHP:LQ)RUPV%XWWRQ
3ULYDWH:LWK(YHQWV7H[W%R[$V6\VWHP:LQ)RUPV7H[W%R[
'LP:LWK(YHQWV+RRNB7U\$V6\VWHP:LQ)RUPV)RUP
127(7KHIROORZLQJSURFHGXUHLVUHTXLUHGE\WKH:LQGRZV)RUP'HVLJQHU
,WFDQEHPRGLILHGXVLQJWKH:LQGRZV)RUP'HVLJQHU 'RQRWPRGLI\LWXVLQJWKHFRGHHGLWRU 3ULYDWH6XE,QLWLDOL]H&RPSRQHQW
0HFRPSRQHQWV 1HZ6\VWHP&RPSRQHQW0RGHO&RQWDLQHU 0H%XWWRQ 1HZ6\VWHP:LQ)RUPV%XWWRQ 0H%XWWRQ 1HZ6\VWHP:LQ)RUPV%XWWRQ
0H7H[W%R[ 1HZ6\VWHP:LQ)RUPV7H[W%R[
#GHVLJQ0H7UD\+HLJKW
#GHVLJQ0H7UD\/DUJH,FRQ )DOVH
#GHVLJQ0H7UD\$XWR$UUDQJH 7UXH
%XWWRQ/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW %XWWRQ6L]H 1HZ6\VWHP'UDZLQJ6L]H %XWWRQ7DE,QGH[
%XWWRQ7H[W +RRN
%XWWRQ/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW %XWWRQ6L]H 1HZ6\VWHP'UDZLQJ6L]H %XWWRQ7DE,QGH[
%XWWRQ7H[W 8Q+RRN
7H[W%R[/RFDWLRQ 1HZ6\VWHP'UDZLQJ3RLQW 7H[W%R[0XOWLOLQH 7UXH
7H[W%R[6FUROO%DUV 6\VWHP:LQ)RUPV6FUROO%DUV%RWK 7H[W%R[7DE,QGH[
7H[W%R[6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H7H[W 9%1(7+RRNLQJ([DPSOH
0H$XWR6FDOH%DVH6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&OLHQW6L]H 1HZ6\VWHP'UDZLQJ6L]H
0H&RQWUROV$GG%XWWRQ 0H&RQWUROV$GG%XWWRQ
0H&RQWUROV$GG7H[W%R[ (QG6XE
(QG5HJLRQ
)RUPRYHUULGHVGLVSRVHWRFOHDQXSWKHFRPSRQHQWOLVW
3XEOLF2YHUULGHV6XE'LVSRVH
0\%DVH'LVSRVH
FRPSRQHQWV'LVSRVH (QG6XE
(9(17+$1'/(56)25%87721&21752/6
3URWHFWHG6XE%XWWRQB&OLFN%\9DOVHQGHU$V2EMHFW%\9DOH$V6\VWHP(YHQW$UJV ,QVWDOOKRRN
K+RRN 6HW:LQGRZV+RRN([:+B0286(FEDSSGRPDLQ*HW&XUUHQW7KUHDG,G
PVJER[K+RRN
(QG6XE
3URWHFWHG6XE%XWWRQB&OLFN%\9DOVHQGHU$V2EMHFW%\9DOH$V6\VWHP(YHQW$UJV 5HOHDVHKRRN
PVJER[8QKRRN:LQGRZV+RRN([K+RRN
K+RRN
(QG6XE (QG&ODVV
8VLQJVWUXFWXUHVLQSODFHRIXVHUGHILQHGW\SHVLVDFWXDOO\QRWDPDMRUFKDQJH7KHPDLQWKLQJ
WKDW\RXPXVWGRLVLQVWDQWLDWHWKHVWUXFWXUHZKLFK\RXGLGQRWKDYHWRGRZKHQXVLQJXVHU
GHILQHGW\SHV7KH0286(+22.6758&7VWUXFWXUHIRUWKH:+B0286(KRRNLVLQVWDQWLDWHG
LQWKH+RRN3URFIXQFWLRQ
7KHILUVWPRGLILFDWLRQWKDWZHQHHGWRPDNHWRWKHSUHYLRXV:+B.(<%2$5'KRRNFRGHWR
FRQYHUWLWWRXVHWKH:+B0286(KRRNLVORFDWHGLQWKHPRGPRGXOH:HQHHGWRGHFODUH
WKHIDPLOLDU&RS\0HPRU\$3,IXQFWLRQ2QFHDJDLQWKLVIXQFWLRQLVXVHGWRREWDLQDVWUXFWXUH
IURPDSRLQWHUWKDWWKHILOWHUIXQFWLRQUHWXUQV:HZLOOVHHPRUHRIWKLVLQDPRPHQW1H[WWKH
:+B0286(FRQVWDQWLVGHFODUHGDORQJZLWKWKH32,17$3,DQG0286(+22.6758&7 VWUXFWXUHV
7KHQH[WPRGLILFDWLRQLVLQWKH+RRN3URFILOWHUIXQFWLRQ7KHIROORZLQJWZROLQHVRIFRGHDUH
XVHGWRJHWDVWUXFWXUHIURPDSRLQWHUFRQWDLQHGLQWKHO3DUDPSDUDPHWHU
'LP'HVW$V1HZPRG0286(+22.6758&7
&RS\0HPRU\'HVWO3DUDPVL]HRI'HVW
7KHILUVWOLQHFUHDWHVDQHZLQVWDQFHRIWKH0286(+22.6758&7VWUXFWXUHGHILQHGLQWKH
PRGPRGXOH1RZWKDWWKH'HVWVWUXFWXUHLVFUHDWHGLQPHPRU\ZHFDQXVHWKH
&RS\0HPRU\IXQFWLRQWRFRS\LQWRWKH'HVWVWUXFWXUHWKHEORFNRIPHPRU\WKDWWKHO3DUDP
SDUDPHWHUSRLQWVWR$WWKLVSRLQWZHFDQXVHWKH'HVWVWUXFWXUHWRDFFHVVLWVPHPEHUVDVLQ
WKHIROORZLQJOLQHRIFRGH
7KH:LQ3ULQW7[W'HVWKZQG 'HVWSW[ 'HVWSW\ B
'HVWZ+LW7HVW&RGH
$IWHUWKH'HVWVWUXFWXUHJRHVRXWRIVFRSHLWLVPDUNHGIRUJDUEDJHFROOHFWLRQ7KHPHPRU\
IRUWKH'HVWVWUXFWXUHLVDXWRPDWLFDOO\IUHHGDWDODWHUWLPHZKHQWKH*DUEDJH&ROOHFWRUUXQV
:HPDNHRXUILQDOPRGLILFDWLRQWRWKHILUVWSDUDPHWHULQWKHFDOOWR6HW:LQGRZV+RRN([ZLWKLQ
WKH%XWWRQB&OLFNHYHQW7KH:+B0286(FRQVWDQWLVVXEVWLWXWHGIRUWKH:+B.(<%2$5' FRQVWDQW
$V\RXFDQVHHWKHUHLVVRPHPRUHZRUNLQYROYHGZLWKXVLQJKRRNVLQ9%1(77KHPDMRULW\
RIWKLVZRUNLVLQZULWLQJWKHGHOHJDWHWKDWFRQWDLQVWKHSRLQWHUWRWKHILOWHUIXQFWLRQ6RPHH[WUD
ZRUNDOVRLVQHHGHGZKHQWKHILOWHUIXQFWLRQFRQWDLQVDSRLQWHUWRDVWUXFWXUHLQRQHRUPRUHRI
LWVSDUDPHWHUV
+RRNVFDQEHMXVWDVSRZHUIXODVWKH\ZHUHLQSUHYLRXVYHUVLRQVRI9%,WLVLPSHUDWLYHWKDW
\RXEHDZDUHRIWKHSLWIDOOVRIKRRNVZKLFKDUHRXWOLQHGLQ&KDSWHUEHIRUH\RXVWDUW
LPSOHPHQWLQJKRRNVLQ\RXURZQDSSOLFDWLRQV)DLOLQJWRKHHGWKHVHZDUQLQJVFDQFDXVH\RXU
DSSOLFDWLRQWRIDLORUDWEHVWRSHUDWHLQHIILFLHQWO\
3DUW9$SSHQGL[HV 7KLVVHFWLRQFRQWDLQVWKUHHDSSHQGL[HVWKDWOLVW:LQGRZVPHVVDJHVWKDW
\RX UHOLNHO\WRHQFRXQWHUDQGZDQWWRKDQGOHLQ\RXURZQVXEFODVVLQJDQG
KRRNLQJDSSOLFDWLRQV:LQ$3,FDOOVXVHGLQWKLVERRNDQGFRQVWDQWVDQG
VWUXFWXUHVXVHGLQWKHVH$3,FDOOV+HQFHWKHVHDSSHQGL[HVVHUYHDVD
KDQG\UHIHUHQFHWKDW\RXFDQXVHWRORRNXSGHWDLOVZKLOH\RX UHZULWLQJFRGH
WRSHUIRUPVXEFODVVLQJRUKRRNLQJ
$SSHQGL[$0HVVDJHV 7KLVDSSHQGL[OLVWVWKHPHVVDJHVXVHGLQWKLVERRN
$:LQGRZ0HVVDJHV Public Const WM_NULL = &H0
Z3DUDP O3DUDP
8QXVHG
8QXVHG Description
7KLVPHVVDJHGRHVQRWDIIHFWWKHV\VWHP Return Value 1RWXVHG
Public Const WM_CREATE = &H1
Z3DUDP O3DUDP
8QXVHG
3RLQWHUWRD&5($7(6758&7VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
6HQWLQUHVSRQVHWRDFDOOWRHLWKHUWKH&UHDWH:LQGRZ([RU&UHDWH:LQGRZ$3,
IXQFWLRQGHILQHGLQ$SSHQGL[% Return Value
WRFRQWLQXHZLQGRZFUHDWLRQWRFDQFHOZLQGRZFUHDWLRQVRWKDW&UHDWH:LQGRZ([
UHWXUQVD18//
Public Const WM_DESTROY = &H2
Z3DUDP
O3DUDP
8QXVHG
8QXVHG Description
6HQWWRDZLQGRZZKHQLWLVEHLQJGHVWUR\HG Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_MOVE = &H3
Z3DUDP O3DUDP
8QXVHG
/RZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHWRSRIWKHZLQGRZKLJKRUGHUZRUG
FRQWDLQVWKH\FRRUGLQDWHRIWKHWRSRIWKHZLQGRZ Description 6HQWDIWHUWKHZLQGRZLVPRYHG Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_SIZE = &H5
Z3DUDP O3DUDP
6SHFLILHVWKHW\SHRIUHVL]LQJ
/RZRUGHUZRUGFRQWDLQVWKHILQDOZLGWKRIWKHZLQGRZKLJKRUGHUZRUGFRQWDLQVWKH
ILQDOKHLJKWRIWKHZLQGRZ Description
6HQWDIWHUWKHZLQGRZLVUHVL]HGFDQEHDQ\RQHRIWKHIROORZLQJFRQVWDQWVGHILQHGLQ
$SSHQGL[&
6,=(B0$;+,'(
6,=(B0$;,0,=(' 6,=(B0$;6+2:
6,=(B0,1,0,=('
6,=(B5(6725(' Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_ACTIVATE = &H6
Z3DUDP
/RZRUGHUZRUGFDQEHRQHRIWKHIROORZLQJFRQVWDQWVGHILQHGLQ$SSHQGL[&
:$B$&7,9(
:$B&/,&.$&7,9( :$B,1$&7,9(
7KHKLJKRUGHUZRUGFRQWDLQVDLIWKHZLQGRZLVPLQLPL]HGDQRQ]HURYDOXH
O3DUDP
RWKHUZLVH
K:QGRIWKHZLQGRZEHLQJDFWLYDWHGRUGHDFWLYDWHG Description
6HQWWRWKHZLQGRZEHLQJGHDFWLYDWHGDQGWKHQWRWKHZLQGRZEHLQJDFWLYDWHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_SETFOCUS = &H7
Z3DUDP O3DUDP
K:QGRIWKHZLQGRZWKDWORVWWKHNH\ERDUGIRFXV
8QXVHG Description
6HQWWRDZLQGRZWKDWJDLQHGWKHNH\ERDUGIRFXV Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_KILLFOCUS = &H8
Z3DUDP O3DUDP
K:QGRIWKHZLQGRZWKDWUHFHLYHGWKHNH\ERDUGIRFXV
8QXVHG Description
6HQWWRDZLQGRZEHIRUHORVLQJWKHNH\ERDUGIRFXV Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_SETTEXT = &HC
Z3DUDP O3DUDP
8QXVHG
3RLQWHUWRDQXOOWHUPLQDWHGVWULQJFRQWDLQLQJWKHZLQGRZ VWH[W Description )RUFHVWKHZLQGRZ VWH[WWREHGUDZQRQWKHZLQGRZ VFDSWLRQ Return Value 7UXHZKHQWKHWH[WLVVXFFHVVIXOO\GUDZQ)DOVHRWKHUZLVH
Public Const WM_PAINT = &HF
Z3DUDP O3DUDP
8QXVHG
8QXVHG Description
6HQWWRLQIRUPWKHZLQGRZWRUHSDLQWDOORUSDUWRILWVHOI Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_QUIT = &H12
Z3DUDP
&RQWDLQVDQH[LWFRGHWKDWKH3RVW4XLW0HVVDJH$3,IXQFWLRQSURYLGHVZKLFKLV
O3DUDP
GHILQHGLQ$SSHQGL[%
8QXVHG Description
&DXVHVDQDSSOLFDWLRQWRVKXWGRZQVHQWLQUHVSRQVHWRDFDOOWRWKH
3RVW4XLW0HVVDJH$3,IXQFWLRQ Return Value 8QXVHG
Public Const WM_ERASEBKGND = &H14
Z3DUDP O3DUDP
7KHZLQGRZ VGHYLFHFRQWH[WKDQGOH
8QXVHG Description
6HQWWRLQGLFDWHWKDWWKHZLQGRZ VEDFNJURXQGVKRXOGEHHUDVHG Return Value
1RQ]HURLIWKHEDFNJURXQGLVHUDVHGRWKHUZLVHD]HURLVUHWXUQHG
Public Const WM_SHOWWINDOW = &H18
Z3DUDP O3DUDP
7UXHLIWKHZLQGRZLVEHLQJVKRZQ)DOVHRWKHUZLVH
6WDWXVRIWKHZLQGRZWKDWLVVKRZQFDQEHRQHRIWKHIROORZLQJYDOXHVGHILQHGLQ
$SSHQGL[&
6:B27+(581=220
6:B27+(5=220
6:B3$5(17&/26,1*
6:B3$5(1723(1,1* Description
6HQWWRDZLQGRZEHIRUHLWLVVKRZQRUKLGGHQ Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_SETCURSOR = &H20
Z3DUDP O3DUDP
K:QGRIWKHZLQGRZWKDWWKHPRXVHFXUVRULVRYHU
7KHORZRUGHUZRUGFRQWDLQVWKHKLWWHVWFRGHWKHKLJKRUGHUZRUGFRQWDLQVWKH
PHVVDJH,' Description
6HQWZKHQDPRXVHPRYHVRYHUDZLQGRZWKDWFXUUHQWO\GRHVQRWKDYHWKHPRXVH
FDSWXUH Return Value
7UXHRQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH)DOVHRWKHUZLVH
Public Const WM_QUEUESYNC = &H23
Z3DUDP O3DUDP
8QXVHG
8QXVHG Description
6HQWE\DQDSSOLFDWLRQLPSOHPHQWLQJD:+B&%7KRRNWRGLVWLQJXLVKEHWZHHQXVHU
LQSXWDQGLQSXWSOD\HGEDFNIURPD:+B-2851$/3/$<%$&.KRRN Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_GETMINMAXINFO = &H24
Z3DUDP O3DUDP
8QXVHG
3RLQWHUWRD0,10$;,1)2VWUXFWXUHGHILQHGLQ$SSHQGL[& Description 6HQWWRDZLQGRZEHIRUHLWVORFDWLRQRUVL]HFKDQJHV Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_WINDOWPOSCHANGING = &H46
Z3DUDP O3DUDP
8QXVHG
3RLQWHUWRD:,1'2:326VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
6HQWWRDZLQGRZEHIRUHLWVORFDWLRQVL]HRUSRVLWLRQLQWKH=RUGHUFKDQJHV Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_WINDOWPOSCHANGED = &H47
Z3DUDP O3DUDP
8QXVHG
3RLQWHUWRD:,1'2:326VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
6HQWWRDZLQGRZDIWHULWVORFDWLRQVL]HRUSRVLWLRQLQWKH=RUGHUFKDQJHV Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_CANCELJOURNAL = &H4B
Z3DUDP O3DUDP
8QXVHG
8QXVHG Description
3RVWHGWRDQDSSOLFDWLRQZKHQWKHXVHUFDQFHOVDMRXUQDOLQJKRRN Return Value 8QXVHG
Public Const WM_NCCREATE = &H81
Z3DUDP O3DUDP
8QXVHG
3RLQWHUWRD&5($7(6758&7VWUXFWXUHGHILQHGLQ$SSHQGL[& Description 6HQWZKHQWKHQRQFOLHQWDUHDRIDZLQGRZLVFUHDWHG Return Value
7UXHWRFRQWLQXHWKHZLQGRZFUHDWLRQ)DOVHRWKHUZLVH
Public Const WM_NCDESTROY = &H82
Z3DUDP
O3DUDP
8QXVHG
8QXVHG Description
,QIRUPVWKHZLQGRZWKDWLWVQRQFOLHQWDUHDLVEHLQJGHVWUR\HG6HQWE\WKH
'HVWUR\:LQGRZ$3,IXQFWLRQZKLFKLVGHILQHGLQ$SSHQGL[% Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_NCCALCSIZE = &H83
Z3DUDP
,I7UXHWKHZLQGRZQHHGVWRGHILQHWKHDUHDWKDWGRHVQRWQHHGUHSDLQWLQJ,I)DOVH
O3DUDP
WKHHQWLUHZLQGRZLVUHSDLQWHG
,IZ3DUDPLV7UXHWKLVSDUDPHWHUFRQWDLQVDSRLQWHUWRDQ1&&$/&6,=(B3$5$06
VWUXFWXUHGHILQHGLQ$SSHQGL[&,IZ3DUDPLV)DOVHWKLVSDUDPHWHUFRQWDLQVD
SRLQWHUWRD5(&7VWUXFWXUHGHILQHGLQ$SSHQGL[& Description ,QGLFDWHVWKDWWKHFOLHQWDUHDPXVWEHUHVL]HG Return Value
,IZ3DUDPLV7UXHWKHUHWXUQYDOXHLVRQHRUPRUHRIWKHIROORZLQJGHILQHGLQ
$SSHQGL[&
:95B$/,*1723
:95B$/,*1/()7
:95B$/,*1%27720 :95B+5('5$:
:95B95('5$: :95B5('5$:
:95B9$/,'5(&76
,IZ3DUDPLV)DOVHWKHUHWXUQYDOXHLV
Public Const WM_NCHITTEST = &H84
Z3DUDP O3DUDP
8QXVHG
7KHORZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHPRXVHSRLQWHU7KHKLJKRUGHU
ZRUGFRQWDLQVWKH\FRRUGLQDWHRIWKHPRXVHSRLQWHU Description
6HQWZKHQHYHUWKHPRXVHSRLQWHULVPRYHGRUDPRXVHEXWWRQLVSUHVVHGZKLOHRYHU
DZLQGRZ Return Value
,QGLFDWHVWKHJHQHUDOORFDWLRQRIWKHPRXVHSRLQWHUZKLOHRYHUDZLQGRZLWFDQEHRQH
RIWKHIROORZLQJGHILQHGLQ$SSHQGL[&
+7%25'(5
+7%27720
+7%27720/()7
+7%277205,*+7 +7&$737,21
+7&/,(17
+7&/26(
+7(5525
+7*52:%2; +7+(/3
+7+6&52//
+7/()7
+70(18
+70$;%87721
+70,1%87721
+712:+(5(
+75('8&(
+75,*+7 +76,=(
+76<60(18
177723
+7723/()7
+77235,*+7
+775$163$5(17
+796&52// +7=220
Public Const WM_NCPAINT = &H85
Z3DUDP
+DQGOHWRDGHYLFHFRQWH[WIRUWKHZLQGRZ VQRQFOLHQWDUHD
O3DUDP
8QXVHG Description
,QGLFDWHVWKDWWKHZLQGRZ VQRQFOLHQWDUHDPXVWEHUHSDLQWHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_NCACTIVATE = &H86
Z3DUDP
,I7UXHWKHQRQFOLHQWDUHDRIDZLQGRZVKRXOGEHUHSDLQWHGWRLQGLFDWHDQDFWLYH
O3DUDP
ZLQGRZ,I)DOVHWKHQRQFOLHQWDUHDVKRXOGEHUHSDLQWHGWRLQGLFDWHDQLQDFWLYHVWDWH
8QXVHG Description
,QGLFDWHVWKDWWKHQRQFOLHQWDUHDRIDZLQGRZVKRXOGEHUHSDLQWHGWRVKRZDQDFWLYH
RULQDFWLYHVWDWH Return Value
,IZ3DUDPLV7UXHWKHUHWXUQYDOXHLVQRWXVHG,IZ3DUDPLV)DOVHWKHUHWXUQYDOXH
VKRXOGEH7UXHLIWKHZLQGRZVKRXOGFRQWLQXHWRFKDQJHVWDWHRWKHUZLVHD)DOVH
VKRXOGEHUHWXUQHGWRVWRSWKHZLQGRZIURPFKDQJLQJVWDWH
Public Const WM_GETDLGCODE = &H87
Z3DUDP O3DUDP
8QXVHG
3RLQWHUWRDQ06*VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
,QGLFDWHVZKLFKPHVVDJHVDFRQWUROZDQWVWRSURFHVVLWVHOILQVWHDGRIKDYLQJWKH
V\VWHPSURFHVVWKHP7KLVPHVVDJHLVXVHGRQO\IRUFRQWUROVRQDGLDORJER[ Return Value
,QGLFDWHVWKHW\SHRILQSXWPHVVDJHVWKHFRQWURO VZLQGRZSURFHGXUHVKRXOGSURFHVV
FDQEHRQHRUPRUHRIWKHIROORZLQJGHILQHGLQ$SSHQGL[& '/*&B%87721
'/*&B'()386+%87721
'/*&B+$66(76(/
'/*&B5$',2%87721
'/*&B67$7,&
'/*&B81'()386+%87721 '/*&B:$17$//.(<6
'/*&B:$17$552:6
'/*&B:$17&+$56
'/*&B:$170(66$*(
'/*&B:$177
%$Public Const WM_NCMOUSEMOVE = &HA0
Z3DUDP
&RQWDLQVDKLWWHVWYDOXHIRUDOLVWRIKLWWHVWYDOXHVVHHWKH:0B1&+,77(67
O3DUDP
PHVVDJH
3RLQWVWRD32,176VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
3RVWHGWRDZLQGRZWRLQGLFDWHWKDWWKHPRXVHLVPRYLQJRYHUWKHZLQGRZ VQRQFOLHQW
DUHD Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_NCLBUTTONDOWN = &HA1
Z3DUDP
&RQWDLQVDKLWWHVWYDOXHIRUDOLVWRIKLWWHVWYDOXHVVHHWKH:0B1&+,77(67
O3DUDP
PHVVDJH
3RLQWVWRD32,176VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
,QGLFDWHVWKDWWKHOHIWPRXVHEXWWRQLVSUHVVHGZKLOHWKHPRXVHSRLQWHULVRYHUWKH
QRQFOLHQWSRUWLRQRIDZLQGRZ Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_NCLBUTTONUP = &HA2
Z3DUDP
&RQWDLQVDKLWWHVWYDOXHIRUDOLVWRIKLWWHVWYDOXHVVHHWKH:0B1&+,77(67
O3DUDP
PHVVDJH
3RLQWVWRD32,176VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
,QGLFDWHVWKDWWKHOHIWPRXVHEXWWRQLVUHOHDVHGZKLOHWKHPRXVHSRLQWHULVRYHUWKH
QRQFOLHQWSRUWLRQRIDZLQGRZ Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_NCLBUTTONDBLCLK = &HA3
Z3DUDP
&RQWDLQVDKLWWHVWYDOXHIRUDOLVWRIKLWWHVWYDOXHVVHHWKH:0B1&+,77(67
O3DUDP
PHVVDJH
3RLQWVWRD32,176VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
,QGLFDWHVWKDWWKHOHIWPRXVHEXWWRQLVGRXEOHFOLFNHGZKLOHWKHPRXVHSRLQWHULVRYHU
WKHQRQFOLHQWSRUWLRQRIDZLQGRZ Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_NCRBUTTONDOWN = &HA4
Z3DUDP
&RQWDLQVDKLWWHVWYDOXHIRUDOLVWRIKLWWHVWYDOXHVVHHWKH:0B1&+,77(67
O3DUDP
PHVVDJH
3RLQWVWRD32,176VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
,QGLFDWHVWKDWWKHULJKWPRXVHEXWWRQLVSUHVVHGZKLOHWKHPRXVHSRLQWHULVRYHUWKH
QRQFOLHQWSRUWLRQRIDZLQGRZ Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_NCRBUTTONUP = &HA5
Z3DUDP
&RQWDLQVDKLWWHVWYDOXHIRUDOLVWRIKLWWHVWYDOXHVVHHWKH:0B1&+,77(67
O3DUDP
PHVVDJH
3RLQWVWRD32,176VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
,QGLFDWHVWKDWWKHULJKWPRXVHEXWWRQLVUHOHDVHGZKLOHWKHPRXVHSRLQWHULVRYHUWKH
QRQFOLHQWSRUWLRQRIDZLQGRZ Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_NCRBUTTONDBLCLK = &HA6
Z3DUDP
&RQWDLQVDKLWWHVWYDOXHIRUDOLVWRIKLWWHVWYDOXHVVHHWKH:0B1&+,77(67
O3DUDP
PHVVDJH
3RLQWVWRD32,176VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
,QGLFDWHVWKDWWKHULJKWPRXVHEXWWRQLVGRXEOHFOLFNHGZKLOHWKHPRXVHSRLQWHULVRYHU
WKHQRQFOLHQWSRUWLRQRIDZLQGRZ Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_NCMBUTTONDOWN = &HA7
Z3DUDP
&RQWDLQVDKLWWHVWYDOXHIRUDOLVWRIKLWWHVWYDOXHVVHHWKH:0B1&+,77(67
O3DUDP
PHVVDJH
3RLQWVWRD32,176VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
,QGLFDWHVWKDWWKHPLGGOHPRXVHEXWWRQLVSUHVVHGZKLOHWKHPRXVHSRLQWHULVRYHUWKH
QRQFOLHQWSRUWLRQRIDZLQGRZ Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_NCMBUTTONUP = &HA8
Z3DUDP
&RQWDLQVDKLWWHVWYDOXHIRUDOLVWRIKLWWHVWYDOXHVVHHWKH:0B1&+,77(67
O3DUDP
PHVVDJH
3RLQWVWRD32,176VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
,QGLFDWHVWKDWWKHPLGGOHPRXVHEXWWRQLVUHOHDVHGZKLOHWKHPRXVHSRLQWHULVRYHU
WKHQRQFOLHQWSRUWLRQRIDZLQGRZ Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_NCMBUTTONDBLCLK = &HA9
Z3DUDP
&RQWDLQVDKLWWHVWYDOXHIRUDOLVWRIKLWWHVWYDOXHVVHHWKH:0B1&+,77(67
O3DUDP
PHVVDJH
3RLQWVWRD32,176VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
,QGLFDWHVWKDWWKHPLGGOHPRXVHEXWWRQLVGRXEOHFOLFNHGZKLOHWKHPRXVHSRLQWHULV
RYHUWKHQRQFOLHQWSRUWLRQRIDZLQGRZ Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_NCXBUTTONDOWN = &HAB
Z3DUDP
7KHORZRUGHUZRUGFRQWDLQVDKLWWHVWYDOXHIRUDOLVWRIKLWWHVWYDOXHVVHHWKH
:0B1&+,77(67PHVVDJH7KHKLJKRUGHUZRUGFRQWDLQVWKHPRXVHEXWWRQWKDWZDV
SUHVVHGLWFDQEHRQHRIWKHIROORZLQJGHILQHGLQ$SSHQGL[& ;%87721
;%87721
O3DUDP
3RLQWVWRD32,176VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
,QGLFDWHVWKDWHLWKHUWKHILUVWRUVHFRQG[EXWWRQRQWKHPRXVHLVSUHVVHGZKLOHWKH
PRXVHSRLQWHULVRYHUWKHQRQFOLHQWSRUWLRQRIDZLQGRZ Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_NCXBUTTONUP = &HAC
Z3DUDP
7KHORZRUGHUZRUGFRQWDLQVDKLWWHVWYDOXHIRUDOLVWRIKLWWHVWYDOXHVVHHWKH
:0B1&+,77(67PHVVDJH7KHKLJKRUGHUZRUGFRQWDLQVWKHPRXVHEXWWRQWKDWZDV
SUHVVHGLWFDQEHRQHRIWKHIROORZLQJGHILQHGLQ$SSHQGL[& ;%87721
O3DUDP
;%87721
3RLQWVWRD32,176VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
,QGLFDWHVWKDWHLWKHUWKHILUVWRUVHFRQG[EXWWRQRQWKHPRXVHLVUHOHDVHGZKLOHWKH
PRXVHSRLQWHULVRYHUWKHQRQFOLHQWSRUWLRQRIDZLQGRZ Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_NCXBUTTONDBLCLK = &HAD
Z3DUDP
7KHORZRUGHUZRUGFRQWDLQVDKLWWHVWYDOXHIRUDOLVWRIKLWWHVWYDOXHVVHHWKH
:0B1&+,77(67PHVVDJH7KHKLJKRUGHUZRUGFRQWDLQVWKHPRXVHEXWWRQWKDWZDV
SUHVVHGLWFDQEHRQHRIWKHIROORZLQJGHILQHGLQ$SSHQGL[& ;%87721
O3DUDP
;%87721
3RLQWVWRD32,176VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
,QGLFDWHVWKDWHLWKHUWKHILUVWRUVHFRQG[EXWWRQRQWKHPRXVHLVGRXEOHFOLFNHGZKLOH
WKHPRXVHSRLQWHULVRYHUWKHQRQFOLHQWSRUWLRQRIDZLQGRZ Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_KEYDOWN = &H100
Z3DUDP O3DUDP 0-15 16-23 24 25-28 29 30
&RQWDLQVWKHYLUWXDONH\FRGHRIWKHNH\SUHVVHG
&RQWDLQVELWIODJVIRUWKHNH\SUHVVHG7KHELWIODJVDUHGHILQHGDVIROORZV 1XPEHURIWLPHVWKHNH\LVUHSHDWHG 6FDQFRGH ,QGLFDWHVLIWKHNH\SUHVVHGLVDQH[WHQGHGNH\ 5HVHUYHG $OZD\VIRU:0B.(<'2:1PHVVDJHV 7KHSUHYLRXVNH\VWDWHLIWKHNH\ZDVDOUHDG\SUHVVHGEHIRUHWKLVPHVVDJHZDV
SRVWHGRWKHUZLVH 31
$OZD\VIRU:0B.(<'2:1PHVVDJHV Description
3RVWHGWRDZLQGRZLQGLFDWLQJWKDWDQRQV\VWHPNH\ZDVSUHVVHGDQRQV\VWHPNH\
LVRQHWKDWLVSUHVVHGZKLOHWKH$/7NH\LVQRWEHLQJSUHVVHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_KEYUP = &H101
Z3DUDP O3DUDP
&RQWDLQVWKHYLUWXDONH\FRGHRIWKHNH\UHOHDVHG
&RQWDLQVELWIODJVIRUWKHNH\UHOHDVHG7KHELWIODJVDUHGHILQHGDVIROORZV 0-15 1XPEHURIWLPHVWKHNH\LVUHSHDWHG 16-23 6FDQFRGH 24
,QGLFDWHVLIWKHNH\SUHVVHGLVDQH[WHQGHGNH\
25-28
5HVHUYHG 29
$OZD\VIRU:0B.(<83PHVVDJHV 30 $OZD\VIRU:0B.(<83PHVVDJHV 31
$OZD\VIRU:0B.(<83PHVVDJHV Description
3RVWHGWRDZLQGRZWRLQGLFDWHWKDWDQRQV\VWHPNH\ZDVSUHVVHGDQRQV\VWHPNH\
LVRQHWKDWLVSUHVVHGZKLOHWKH$/7NH\LVQRWEHLQJSUHVVHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_CHAR = &H102
Z3DUDP O3DUDP
&RQWDLQVWKHYLUWXDONH\FRGHRIWKHNH\SUHVVHG
&RQWDLQVELWIODJVIRUWKHNH\SUHVVHG7KHELWIODJVDUHDVIROORZV 0-15 1XPEHURIWLPHVWKHNH\LVUHSHDWHG 16-23 6FDQFRGH 24
,QGLFDWHVLIWKHNH\SUHVVHGLVDQH[WHQGHGNH\ 25-28 5HVHUYHG 29
LIWKH$/7NH\LVSUHVVHGDORQJZLWKWKLVNH\RWKHUZLVH 30
7KHSUHYLRXVNH\VWDWHLIWKHNH\ZDVDOUHDG\SUHVVHGEHIRUHWKLVPHVVDJHZDV
SRVWHGRWKHUZLVH 31
LIWKHNH\LVUHOHDVHGRWKHUZLVH Description
3RVWHGWRDZLQGRZWRLQGLFDWHWKDWDQRQV\VWHPNH\ZDVSUHVVHGDQRQV\VWHPNH\
LVRQHWKDWLVSUHVVHGZKLOHWKH$/7NH\LVQRWEHLQJSUHVVHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_SYSKEYDOWN = &H104
Z3DUDP O3DUDP
&RQWDLQVWKHYLUWXDONH\FRGHRIWKHNH\SUHVVHG
&RQWDLQVELWIODJVIRUWKHNH\SUHVVHG7KHELWIODJVDUHDVIROORZV 0-15 1XPEHURIWLPHVWKHNH\LVUHSHDWHG 16-23 6FDQFRGH 24
,QGLFDWHVLIWKHNH\SUHVVHGLVDQH[WHQGHGNH\ 25-28 5HVHUYHG 29
$OZD\VIRU:0B6<6.(<'2:1PHVVDJHV 30
7KHSUHYLRXVNH\VWDWHLIWKHNH\ZDVDOUHDG\SUHVVHGEHIRUHWKLVPHVVDJHZDV
SRVWHGRWKHUZLVH 31
$OZD\VIRU:0B6<6.(<'2:1PHVVDJHV Description
3RVWHGWRDZLQGRZLQGLFDWLQJWKDWDV\VWHPNH\ZDVSUHVVHGDV\VWHPNH\LVWKH
)NH\RURQHWKDWLVSUHVVHGZKLOHWKH$/7NH\LVEHLQJSUHVVHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_SYSKEYUP = &H105
Z3DUDP O3DUDP
&RQWDLQVWKHYLUWXDONH\FRGHRIWKHNH\UHOHDVHG
&RQWDLQVELWIODJVIRUWKHNH\UHOHDVHG7KHELWIODJVDUHGHILQHGDVIROORZV 0-15 1XPEHURIWLPHVWKHNH\LVUHSHDWHG 16-23 6FDQFRGH 24
,QGLFDWHVLIWKHNH\SUHVVHGLVDQH[WHQGHGNH\ 25-28 5HVHUYHG 29
$OZD\VIRU:0B6<6.(<83PHVVDJHV
30
$OZD\VIRU:0B6<6.(<83PHVVDJHV 31
$OZD\VIRU:0B6<6.(<83PHVVDJHV Description
3RVWHGWRDZLQGRZWRLQGLFDWHWKDWDV\VWHPNH\ZDVUHOHDVHGDV\VWHPNH\LVWKH
)NH\RURQHWKDWLVSUHVVHGZKLOHWKH$/7NH\LVEHLQJSUHVVHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_SYSCHAR = &H106
Z3DUDP O3DUDP
&RQWDLQVWKHYLUWXDONH\FRGHRIWKHNH\SUHVVHG
&RQWDLQVELWIODJVIRUWKHNH\SUHVVHG7KHELWIODJVDUHDVIROORZV 0-15 1XPEHURIWLPHVWKHNH\LVUHSHDWHG 16-23 6FDQFRGH 24
,QGLFDWHVLIWKHNH\SUHVVHGLVDQH[WHQGHGNH\ 25-28 5HVHUYHG 29
LIWKH$/7NH\LVSUHVVHGDORQJZLWKWKLVNH\RWKHUZLVH 30
7KHSUHYLRXVNH\VWDWHLIWKHNH\ZDVDOUHDG\SUHVVHGEHIRUHWKLVPHVVDJHZDV
SRVWHGRWKHUZLVH 31
LIWKHNH\LVUHOHDVHGRWKHUZLVH Description
3RVWHGWRDZLQGRZWRLQGLFDWHWKDWDV\VWHPNH\ZDVSUHVVHGDV\VWHPNH\LVWKH
)NH\RURQHWKDWLVSUHVVHGZKLOHWKH$/7NH\LVEHLQJSUHVVHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_INITDIALOG = &H110
Z3DUDP
K:QGRIWKHFRQWUROWKDWVKRXOGUHFHLYHWKHLQLWLDOIRFXV
O3DUDP
&RQWDLQVDGGLWLRQDOLQIRUPDWLRQ Description
6HQWWRWKHGLDORJER[EHIRUHLWLVGLVSOD\HG Return Value
7UXHLIWKHIRFXVVKRXOGEHVHWWRWKHFRQWUROVSHFLILHGLQZ3DUDPRWKHUZLVHD)DOVH
VKRXOGEHUHWXUQHG
Public Const WM_COMMAND = &H111
Z3DUDP
7KHORZRUGHUZRUGFRQWDLQVWKHPHQXLWHPDFFHOHUDWRUNH\RUFRQWURO,'7KHKLJK
RUGHUZRUGLQGLFDWHVZKHWKHUWKHQRWLILFDWLRQPHVVDJHLVIURPDQDFFHOHUDWRUNH\
O3DUDP
FRQWURORUPHQXLWHP
K:QGRIWKHFRQWUROVHQGLQJWKHQRWLILFDWLRQPHVVDJH Description
6HQWLIDQDFFHOHUDWRUNH\LVSUHVVHGDFRPPDQGPHQXLWHPLVVHOHFWHGRUDFRQWURO
VHQGVDQRWLILFDWLRQPHVVDJHWRLWVSDUHQW Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_SYSCOMMAND = &H112
Z3DUDP
,QGLFDWHVWKHDFWLRQLQLWLDWHGE\WKHXVHUFDQEHRQHRIWKHIROORZLQJGHILQHGLQ
$SSHQGL[& 6&B&/26(
6&B&217(;7+(/3 6&B'()$8/7 6&B+27.(<
6&B+6&52//
6&B.(<0(18 6&B0$;,0,=( 6&B0,1,0,=(
6&B021,72532:(5 6&B0286(0(18 6&B029(
6&B1(;7:,1'2:
6&B35(9:,1'2:
6&B5(6725(
6&B6&5((16$9(
6&B6,=(
6&B7$6./,67 O3DUDP
6&B96&52//
7KHORZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHPRXVHSRLQWHULIDPHQXLWHPLV
VHOHFWHGRWKHUZLVHLWLVQRWXVHG7KHKLJKRUGHUZRUGFRQWDLQVWKH\FRRUGLQDWHRI
WKHPRXVHSRLQWHULIDPHQXLWHPLVVHOHFWHGE\WKHPRXVHLWLVLIDQDFFHOHUDWRULV
XVHGWRDFFHVVWKHPHQXLWHPRULWLVLIDPQHPRQLFLVXVHGWRDFFHVVWKHPHQXLWHP Description 6HQWZKHQDPHQXLWHPLVVHOHFWHGIURPWKH:LQGRZPHQXWKH0LQLPL]HEXWWRQLV
FOLFNHGWKH0D[LPL]HEXWWRQLVFOLFNHGWKH5HVWRUHEXWWRQLVFOLFNHGRUWKH&ORVH
EXWWRQLVFOLFNHG Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_ENTERIDLE = &H121
Z3DUDP
,QGLFDWHVZKHWKHUWKHZLQGRZLVHQWHULQJWKHLGOHVWDWHGXHWRDPHQXLWHPRUGLDORJ
ER[EHLQJGLVSOD\HGFDQEHRQHRIWKHIROORZLQJGHILQHGLQ$SSHQGL[& 06*)B',$/2*%2;
O3DUDP
06*)B0(18
K:QGWRWKHGLDORJER[RUPHQX Description
6HQWWRDZLQGRZWKDWLVHQWHULQJWKHLGOHVWDWH Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_CTLCOLOREDIT = &H133
Z3DUDP O3DUDP
7KHHGLWFRQWURO VGHYLFHFRQWH[WKDQGOH
K:QGRIWKHHGLWFRQWURO Description
6HQWWRWKHSDUHQWZLQGRZRIDFRQWUROWRLQGLFDWHWKDWLWLVJRLQJWRUHSDLQWLWVHOI Return Value 7KHEUXVKKDQGOHRQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_CTLCOLORLISTBOX = &H134
Z3DUDP O3DUDP
7KHOLVWER[ VGHYLFHFRQWH[WKDQGOH
K:QGRIOLVWER[FRQWURO Description
6HQWWRWKHSDUHQWZLQGRZRIDFRQWUROWRLQGLFDWHWKDWWKHFRQWUROLVJRLQJWRUHSDLQW
LWVHOI Return Value
7KHEUXVKKDQGOHRQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_CTLCOLORBTN = &H135
Z3DUDP O3DUDP
7KHEXWWRQ VGHYLFHFRQWH[WKDQGOH
K:QGRIWKHEXWWRQFRQWURO Description
6HQWWRWKHSDUHQWZLQGRZRIDFRQWUROWRLQGLFDWHWKDWLWLVJRLQJWRUHSDLQWLWVHOI Return Value 7KHEUXVKKDQGOHRQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_CTLCOLORDLG = &H136
Z3DUDP O3DUDP
7KHGLDORJER[ VGHYLFHFRQWH[WKDQGOH
K:QGRIWKHGLDORJER[ Description
6HQWWRWKHGLDORJER[WRLQGLFDWHWKDWLWLVJRLQJWRUHSDLQWLWVHOI Return Value
7KHEUXVKKDQGOHRQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_CTLCOLORSCROLLBAR = &H137
Z3DUDP O3DUDP
7KHVFUROOEDU VGHYLFHFRQWH[WKDQGOH
K:QGRIWKHVFUROOEDUFRQWURO Description
6HQWWRWKHSDUHQWZLQGRZRIDFRQWUROWRLQGLFDWHWKDWLWLVJRLQJWRUHSDLQWLWVHOI Return Value 7KHEUXVKKDQGOHRQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_CTLCOLORSTATIC = &H138
Z3DUDP O3DUDP
$VWDWLFFRQWURO VGHYLFHFRQWH[WKDQGOH
K:QGRIDVWDWLFFRQWURO Description
6HQWWRWKHSDUHQWZLQGRZRIDFRQWUROWRLQGLFDWHWKDWLWLVJRLQJWRUHSDLQWLWVHOI Return Value 7KHEUXVKKDQGOHRQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_MOUSEMOVE = &H200
Z3DUDP
&RQWDLQVWKHYLUWXDONH\VSUHVVHGZKHQWKLVPHVVDJHLVSRVWHGFDQEHRQHRUPRUH
RIWKHIROORZLQJGHILQHGLQ$SSHQGL[& 0.B&21752/
0.B/%87721
0.B5%87721
0.B0%87721
0.B6+,)7
0.B;%87721
0.B;%87721
O3DUDP
7KHORZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHPRXVHSRLQWHUWKHKLJKRUGHU
ZRUGFRQWDLQVWKH\FRRUGLQDWHRIWKHPRXVHSRLQWHU Description 3RVWHGWRWKHZLQGRZRYHUZKLFKWKHPRXVHPRYHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_LBUTTONDOWN = &H201
Z3DUDP
&RQWDLQVWKHYLUWXDONH\VSUHVVHGZKHQWKLVPHVVDJHLVSRVWHGFDQEHRQHRUPRUH
RIWKHIROORZLQJGHILQHGLQ$SSHQGL[& 0.B&21752/
0.B/%87721
0.B5%87721
0.B0%87721
0.B6+,)7
0.B;%87721
O3DUDP
0.B;%87721
7KHORZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHPRXVHSRLQWHUWKHKLJKRUGHU
ZRUGFRQWDLQVWKH\FRRUGLQDWHRIWKHPRXVHSRLQWHU Description
3RVWHGWRWKHZLQGRZRYHUZKLFKWKHOHIWPRXVHEXWWRQLVSUHVVHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_LBUTTONUP = &H202
Z3DUDP
&RQWDLQVWKHYLUWXDONH\VSUHVVHGZKHQWKLVPHVVDJHLVSRVWHGFDQEHRQHRUPRUH
RIWKHIROORZLQJGHILQHGLQ$SSHQGL[& 0.B&21752/
0.B/%87721
0.B5%87721
0.B0%87721
0.B6+,)7
0.B;%87721
O3DUDP
0.B;%87721 7KHORZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHPRXVHSRLQWHUWKHKLJKRUGHU
ZRUGFRQWDLQVWKH\FRRUGLQDWHRIWKHPRXVHSRLQWHU Description
3RVWHGWRWKHZLQGRZRYHUZKLFKWKHOHIWPRXVHEXWWRQLVUHOHDVHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_LBUTTONDBLCLK = &H203
Z3DUDP
&RQWDLQVWKHYLUWXDONH\VSUHVVHGZKHQWKLVPHVVDJHLVSRVWHGFDQEHRQHRUPRUH
RIWKHIROORZLQJGHILQHGLQ$SSHQGL[& 0.B&21752/
0.B/%87721
0.B5%87721
0.B0%87721
0.B6+,)7
0.B;%87721
O3DUDP
0.B;%87721
7KHORZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHPRXVHSRLQWHUWKHKLJKRUGHU
ZRUGFRQWDLQVWKH\FRRUGLQDWHRIWKHPRXVHSRLQWHU Description
3RVWHGWRWKHZLQGRZRYHUZKLFKWKHOHIWPRXVHEXWWRQLVGRXEOHFOLFNHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_RBUTTONDOWN = &H204
Z3DUDP
&RQWDLQVWKHYLUWXDONH\VSUHVVHGZKHQWKLVPHVVDJHLVSRVWHGFDQEHRQHRUPRUH
RIWKHIROORZLQJGHILQHGLQ$SSHQGL[& 0.B&21752/
0.B/%87721
0.B5%87721
0.B0%87721 0.B6+,)7
0.B;%87721
O3DUDP
0.B;%87721 7KHORZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHPRXVHSRLQWHUWKHKLJKRUGHU
ZRUGFRQWDLQVWKH\FRRUGLQDWHRIWKHPRXVHSRLQWHU Description
3RVWHGWRWKHZLQGRZRYHUZKLFKWKHULJKWPRXVHEXWWRQLVSUHVVHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_RBUTTONUP = &H205
Z3DUDP
&RQWDLQVWKHYLUWXDONH\VSUHVVHGZKHQWKLVPHVVDJHLVSRVWHGFDQEHRQHRUPRUH
RIWKHIROORZLQJGHILQHGLQ$SSHQGL[& 0.B&21752/
0.B/%87721
0.B5%87721
0.B0%87721
0.B6+,)7
0.B;%87721
O3DUDP
0.B;%87721
7KHORZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHPRXVHSRLQWHUWKHKLJKRUGHU
ZRUGFRQWDLQVWKH\FRRUGLQDWHRIWKHPRXVHSRLQWHU Description
3RVWHGWRWKHZLQGRZRYHUZKLFKWKHULJKWPRXVHEXWWRQLVUHOHDVHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_RBUTTONDBLCLK = &H206
Z3DUDP
&RQWDLQVWKHYLUWXDONH\VSUHVVHGZKHQWKLVPHVVDJHLVSRVWHGFDQEHRQHRUPRUH
RIWKHIROORZLQJGHILQHGLQ$SSHQGL[& 0.B&21752/
0.B/%87721
0.B5%87721
0.B0%87721 0.B6+,)7
0.B;%87721
O3DUDP
0.B;%87721
7KHORZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHPRXVHSRLQWHUWKHKLJKRUGHU
ZRUGFRQWDLQVWKH\FRRUGLQDWHRIWKHPRXVHSRLQWHU Description
3RVWHGWRWKHZLQGRZRYHUZKLFKWKHULJKWPRXVHEXWWRQLVGRXEOHFOLFNHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_MBUTTONDOWN = &H207
Z3DUDP
&RQWDLQVWKHYLUWXDONH\VSUHVVHGZKHQWKLVPHVVDJHLVSRVWHGFDQEHRQHRUPRUH
RIWKHIROORZLQJGHILQHGLQ$SSHQGL[& 0.B&21752/
0.B/%87721
0.B5%87721
0.B0%87721
0.B6+,)7
0.B;%87721
O3DUDP
0.B;%87721
7KHORZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHPRXVHSRLQWHUWKHKLJKRUGHU
ZRUGFRQWDLQVWKH\FRRUGLQDWHRIWKHPRXVHSRLQWHU Description
3RVWHGWRWKHZLQGRZRYHUZKLFKWKHPLGGOHPRXVHEXWWRQLVSUHVVHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_MBUTTONUP = &H208
Z3DUDP
&RQWDLQVWKHYLUWXDONH\VSUHVVHGZKHQWKLVPHVVDJHLVSRVWHGFDQEHRQHRUPRUH
RIWKHIROORZLQJGHILQHGLQ$SSHQGL[& 0.B&21752/
0.B/%87721
0.B5%87721
0.B0%87721
0.B6+,)7
0.B;%87721
O3DUDP
0.B;%87721
7KHORZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHPRXVHSRLQWHUWKHKLJKRUGHU
ZRUGFRQWDLQVWKH\FRRUGLQDWHRIWKHPRXVHSRLQWHU Description
3RVWHGWRWKHZLQGRZRYHUZKLFKWKHPLGGOHPRXVHEXWWRQLVUHOHDVHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_MBUTTONDBLCLK = &H209
Z3DUDP
&RQWDLQVWKHYLUWXDONH\VSUHVVHGZKHQWKLVPHVVDJHLVSRVWHGFDQEHRQHRUPRUH
RIWKHIROORZLQJGHILQHGLQ$SSHQGL[& 0.B&21752/
0.B/%87721
0.B5%87721
0.B0%87721
0.B6+,)7
0.B;%87721
O3DUDP
0.B;%87721
7KHORZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHPRXVHSRLQWHUWKHKLJKRUGHU
ZRUGFRQWDLQVWKH\FRRUGLQDWHRIWKHPRXVHSRLQWHU Description
3RVWHGWRWKHZLQGRZRYHUZKLFKWKHPLGGOHPRXVHEXWWRQLVGRXEOHFOLFNHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_XBUTTONDOWN = &H20B
Z3DUDP
7KHORZRUGHUZRUGFRQWDLQVWKHYLUWXDONH\VSUHVVHGZKHQWKLVPHVVDJHLVSRVWHGLW
FDQEHRQHRUPRUHRIWKHIROORZLQJGHILQHGLQ$SSHQGL[& 0.B&21752/ 0.B/%87721
0.B5%87721
0.B0%87721 0.B6+,)7
0.B;%87721
0.B;%87721
7KHKLJKRUGHUZRUGFRQWDLQVWKH[EXWWRQWKDWZDVSUHVVHGLWFDQEHRQHRIWKHIROORZLQJ
GHILQHGLQ$SSHQGL[& ;%87721 ;%87721
O3DUDP
7KHORZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHPRXVHSRLQWHUWKHKLJKRUGHU
ZRUGFRQWDLQVWKH\FRRUGLQDWHRIWKHPRXVHSRLQWHU Description
3RVWHGWRWKHZLQGRZRYHUZKLFKWKHPRXVH V[EXWWRQLVSUHVVHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_XBUTTONUP = &H20C
Z3DUDP
7KHORZRUGHUZRUGFRQWDLQVWKHYLUWXDONH\VSUHVVHGZKHQWKLVPHVVDJHLVSRVWHG
FDQEHRQHRUPRUHRIWKHIROORZLQJGHILQHGLQ$SSHQGL[& 0.B&21752/ 0.B/%87721
0.B5%87721
0.B0%87721 0.B6+,)7
0.B;%87721
0.B;%87721
7KHKLJKRUGHUZRUGFRQWDLQVWKH[EXWWRQWKDWZDVUHOHDVHGLWFDQEHRQHRIWKHIROORZLQJ GHILQHGLQ$SSHQGL[&
;%87721 ;%87721 O3DUDP
7KHORZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHPRXVHSRLQWHUWKHKLJKRUGHU
ZRUGFRQWDLQVWKH\FRRUGLQDWHRIWKHPRXVHSRLQWHU Description
3RVWHGWRWKHZLQGRZRYHUZKLFKWKHPRXVH V[EXWWRQLVUHOHDVHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_XBUTTONDBLCLK = &H20D
Z3DUDP
7KHORZRUGHUZRUGFRQWDLQVWKHYLUWXDONH\VSUHVVHGZKHQWKLVPHVVDJHLVSRVWHGLW
FDQEHRQHRUPRUHRIWKHIROORZLQJGHILQHGLQ$SSHQGL[& 0.B&21752/ 0.B/%87721
0.B5%87721
0.B0%87721 0.B6+,)7
0.B;%87721
0.B;%87721
7KHKLJKRUGHUZRUGFRQWDLQVWKH[EXWWRQWKDWZDVGRXEOHFOLFNHGLWFDQEHRQHRI WKHIROORZLQJGHILQHGLQ$SSHQGL[&
;%87721 O3DUDP
;%87721 7KHORZRUGHUZRUGFRQWDLQVWKH[FRRUGLQDWHRIWKHPRXVHSRLQWHUWKHKLJKRUGHU
ZRUGFRQWDLQVWKH\FRRUGLQDWHRIWKHPRXVHSRLQWHU Description
3RVWHGWRWKHZLQGRZRYHUZKLFKWKHPRXVH V[EXWWRQLVGRXEOHFOLFNHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_PARENTNOTIFY = &H210
Z3DUDP
7KHORZRUGHUZRUGFRQWDLQVWKHDFWLRQIRUZKLFKWKHSDUHQWLVEHLQJQRWLILHGLWFDQEH
RQHRIWKHIROORZLQJ :0B&5($7(
:0B'(6752<
:0B/%87721'2:1
:0B0%87721'2:1 :0B5%87721'2:1 :0B;%87721'2:1
7KHKLJKRUGHUZRUGFRQWDLQVDYDOXHWKDWGHSHQGVRQWKHORZRUGHUZRUGRIZ3DUDP
LWFDQEHRQHRIWKHIROORZLQJ
:0B&5($7(
:0B'(6752<
:0B/%87721'2:1
:0B0%87721'2:1 :0B5%87721'2:1
O3DUDP
:0B;%87721'2:1
9DOXHGHSHQGVRQWKHORZRUGHUZRUGRIZ3DUDPLWFDQEHRQHRIWKHIROORZLQJ
:0B&5($7(
:0B'(6752<
:0B/%87721'2:1
:0B0%87721'2:1 :0B5%87721'2:1
:0B;%87721'2:1 Description
1RWLILHVWKHSDUHQWRIDQDFWLRQRFFXUULQJLQDFKLOGFRQWURO Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_ENTERMENULOOP = &H211
Z3DUDP
7UXHLIWKHPHQXZDVDFWLYDWHGXVLQJWKH7UDFN3RSXS0HQX$3,IXQFWLRQGHILQHGLQ
O3DUDP
$SSHQGL[%
8QXVHG Description
,QGLFDWHVWKDWDPHQXPRGDOORRSKDVEHHQHQWHUHG Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_EXITMENULOOP = &H212
Z3DUDP O3DUDP
7UXHLIDVKRUWFXWPHQXZDVDFWLYDWHG)DOVHRWKHUZLVH
8QXVHG Description
,QGLFDWHVWKDWDPHQXPRGDOORRSKDVEHHQH[LWHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_SIZING = &H214
Z3DUDP
,QGLFDWHVWKHZLQGRZHGJHWKDWLVEHLQJVL]HGFDQEHRQHRUPRUHRIWKHIROORZLQJ
GHILQHGLQ$SSHQGL[& :06=B%27720
:06=B%27720/()7
:06=B%277205,*+7
:06=B/()7
:06=B5,*+7 :06=B723
:06=B723/()7
O3DUDP
:06=B7235,*+7
3RLQWHUWRD5(&7VWUXFWXUHGHILQHGLQ$SSHQGL[& Description 6HQWWRDZLQGRZFXUUHQWO\EHLQJUHVL]HG Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_CAPTURECHANGED = &H215
Z3DUDP
O3DUDP
8QXVHG
K:QGRIWKHZLQGRZJDLQLQJWKHPRXVHFDSWXUH Description 6HQWWRDZLQGRZWKDWORVWWKHPRXVHFDSWXUH Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_MOVING = &H216
Z3DUDP
,QGLFDWHVWKHZLQGRZHGJHWKDWLVEHLQJPRYHGLWFDQEHRQHRUPRUHRIWKH
IROORZLQJGHILQHGLQ$SSHQGL[& :06=B%27720
:06=B%27720/()7
:06=B%277205,*+7 :06=B/()7
:06=B5,*+7 :06=B723
:06=B723/()7 O3DUDP
:06=B7235,*+7
3RLQWHUWRD5(&7VWUXFWXUHGHILQHGLQ$SSHQGL[& Description 6HQWWRDZLQGRZFXUUHQWO\EHLQJPRYHG Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_ENTERSIZEMOVE = &H231
Z3DUDP O3DUDP
8QXVHG
8QXVHG Description
,QGLFDWHVWKDWDVL]LQJPRGDOORRSKDVEHHQHQWHUHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_EXITSIZEMOVE = &H232
Z3DUDP O3DUDP
8QXVHG
8QXVHG Description
,QGLFDWHVWKDWDVL]LQJPRGDOORRSKDVEHHQH[LWHG Return Value RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
Public Const WM_HOTKEY = &H312
Z3DUDP
,QGLFDWHVWKHKRWNH\,'WKDWJHQHUDWHGWKHPHVVDJHFDQEHRQHRIWKHIROORZLQJ
GHILQHGLQ$SSHQGL[& ,'+27B61$3'(6.723
O3DUDP
,'+27B61$3:,1'2:
7KHKLJKRUGHUZRUGFRQWDLQVWKHKRWNH\ VYLUWXDONH\FRGH7KHORZRUGHUZRUG
LQGLFDWHVWKHNH\VSUHVVHGLQFRPELQDWLRQZLWKWKHKRWNH\,WFDQEHRQHRIWKH
IROORZLQJGHILQHGLQ$SSHQGL[& 02'B$/7
02'B&21752/ 02'B6+,)7
02'B:,1 Description
3RVWHGZKHQDKRWNH\LVSUHVVHG Return Value
RQO\LIWKHDSSOLFDWLRQSURFHVVHVWKLVPHVVDJH
$%XWWRQ&RQWURO6SHFLILF0HVVDJHV Public Const BM_GETCHECK = &HF0
Z3DUDP O3DUDP
8QXVHG
8QXVHG Description
*HWVWKHVWDWHRIWKHFKHFNER[RUUDGLREXWWRQFKHFNHGRUXQFKHFNHG Return Value
,QGLFDWHVWKHVWDWHRIWKHFRQWUROFDQEHRQHRIWKHIROORZLQJGHILQHGLQ$SSHQGL[
&
%67B&+(&.('
%67B,1'(7(50,1$7(
%67B81&+(&.('
Public Const BM_SETCHECK = &HF1
Z3DUDP
6HWVWKHVWDWHRIWKHFKHFNER[RUUDGLREXWWRQFDQEHRQHRIWKHIROORZLQJGHILQHGLQ
$SSHQGL[&
%67B&+(&.('
%67B,1'(7(50,1$7(
O3DUDP
%67B81&+(&.('
8QXVHG Description
6HWVWKHVWDWHRIWKHFRQWURO Return Value $OZD\V
Public Const BM_CLICK = &HF5
Z3DUDP O3DUDP
8QXVHG
8QXVHG Description
)RUFHVDEXWWRQWREHFOLFNHG Return Value 8QXVHG
$&RPER%R[6SHFLILF0HVVDJHV Public Const CB_ADDSTRING = &H143
Z3DUDP O3DUDP
8QXVHG
3RLQWHUWRDQXOOWHUPLQDWHGVWULQJ Description
3ODFHVDVWULQJLQWKHWH[WER[SRUWLRQRIDFRPERER[ Return Value
$EDVHGLQGH[WRWKHVWULQJWRDGGWRWKHFRPERER[
Public Const CB_DELETESTRING = &H144
Z3DUDP O3DUDP
$EDVHGLQGH[WRWKHFRPERER[LWHPWRGHOHWH
8QXVHG Description
5HPRYHVDQLWHPIURPDFRPERER[ Return Value
1XPEHURILWHPVOHIWLQWKHFRPERER[DIWHUWKLVLWHPLVGHOHWHG
Public Const CB_GETCOUNT = &H146
Z3DUDP O3DUDP
8QXVHG
8QXVHG Description
5HWULHYHVWKHQXPEHURILWHPVLQDFRPERER[ Return Value 7KHQXPEHURILWHPVLQDFRPERER[
Public Const CB_GETCURSEL = &H147
Z3DUDP O3DUDP
8QXVHG
8QXVHG Description
5HWULHYHVWKHFXUUHQWO\VHOHFWHGLWHPLQDFRPERER[ Return Value 7KHEDVHGLQGH[RIWKHVHOHFWHGLWHP
$(GLW&RQWURO6SHFLILF0HVVDJHV Public Const EM_GETLINE = &HC4
Z3DUDP O3DUDP
7KHEDVHGLQGH[RIWKHOLQHWRUHWULHYHIURPWKHWH[WER[
3RLQWHUWRDEXIIHUWKDWZLOOUHFHLYHWKHVWULQJ Description
5HWULHYHVDVWULQJIURPDSDUWLFXODUOLQHLQDWH[WER[ Return Value 1XPEHURIFKDUDFWHUVUHWXUQHG
Public Const EM_CANUNDO = &HC6
Z3DUDP O3DUDP
8QXVHG
8QXVHG Description
'HWHUPLQHVZKHWKHUDQ\DFWLRQVFDQEHXQGRQHLQDWH[WER[ Return Value LIQRDFWLRQVFDQEHXQGRQHQRQ]HURRWKHUZLVH
Public Const EM_UNDO = &HC7
Z3DUDP O3DUDP
8QXVHG
8QXVHG Description
8QGRHVWKHODVWDFWLRQLQDWH[WFRQWURO Return Value
$VLQJOHOLQHWH[WER[DOZD\VUHWXUQV7UXH$PXOWLOLQHWH[WER[UHWXUQV7UXHLIWKHODVW
DFWLRQZDVXQGRQHRWKHUZLVHLWUHWXUQV)DOVH
$/LVWER[6SHFLILF0HVVDJHV Public Const LB_ADDSTRING = &H180
Z3DUDP O3DUDP
8QXVHG
3RLQWHUWRDQXOOWHUPLQDWHGVWULQJWRDGGWRWKHOLVWER[ Description $GGVDVWULQJWRDOLVWER[ Return Value
EDVHGLQGH[RIWKHSRVLWLRQWKDWWKHVWULQJLVDGGHGWRWKHOLVWER[
Public Const LB_DELETESTRING = &H182
Z3DUDP O3DUDP
EDVHGLQGH[RIWKHSRVLWLRQLQWKHOLVWER[WRGHOHWHWKHVWULQJ
8QXVHG Description
5HPRYHVDVWULQJIURPDOLVWER[ Return Value
1XPEHURILWHPVUHPDLQLQJLQWKHOLVWER[
Public Const LB_SETSEL = &H185
Z3DUDP O3DUDP
7UXHWRKLJKOLJKWDQLWHP)DOVHWRUHPRYHWKHKLJKOLJKWLQJ
EDVHGLQGH[RIWKHLWHPWRVHOHFW Description 6HOHFWVDQLWHPLQDOLVWER[ Return Value
8QXVHGXQOHVVDQHUURURFFXUVLQZKLFKFDVH/%B(55LVUHWXUQHG
Public Const LB_GETSEL = &H187
Z3DUDP O3DUDP
EDVHGLQGH[RIWKHLWHPWRVHOHFW
8QXVHG Description
*HWVWKHLWHPWKDWLVVHOHFWHGLQDOLVWER[ Return Value
LIDQLWHPLVQRWVHOHFWHGQRQ]HURRWKHUZLVH
$6FUROO%DU6SHFLILF0HVVDJHV Public Const SBM_SETPOS = &HE0
Z3DUDP O3DUDP
7KHQHZSRVLWLRQRIWKHVFUROOER[
7UXHWRUHGUDZWKHFRQWURO)DOVHWRSUHYHQWWKHFRQWUROIURPUHGUDZLQJ Description 6HWVWKHSRVLWLRQRIWKHVFUROOER[LQDVFUROOEDUFRQWURO Return Value
7KHSUHYLRXVSRVLWLRQRIWKHVFUROOER[LIWKHVFUROOER[GLGQRWPRYH
Public Const SBM_GETPOS = &HE1
Z3DUDP O3DUDP
8QXVHG
8QXVHG Description
5HWULHYHVWKHFXUUHQWSRVLWLRQRIWKHVFUROOER[LQDVFUROOEDUFRQWURO Return Value 3RVLWLRQRIWKHVFUROOER[
Public Const SBM_SETRANGE = &HE2
Z3DUDP O3DUDP
7KHPLQLPXPVFUROOUDQJH
7KHPD[LPXPVFUROOUDQJH Description
6HWVWKHPD[LPXPDQGPLQLPXPVFUROOUDQJHVRIWKHVFUROOEDUFRQWURO Return Value 7KHSUHYLRXVSRVLWLRQRIWKHVFUROOER[LIWKHVFUROOER[GLGQRWPRYH
Public Const SBM_GETRANGE = &HE3
Z3DUDP O3DUDP
3RLQWHUWRDEXIIHUWKDWJHWVWKHPLQLPXPVFUROOUDQJH
3RLQWHUWRDEXIIHUWKDWJHWVWKHPD[LPXPVFUROOUDQJH Description
*HWVWKHPD[LPXPDQGPLQLPXPVFUROOUDQJHVRIWKHVFUROOEDUFRQWURO Return Value 8QXVHG
$0HVVDJHV6SHFLILFWRWKH&RPPRQ'LDORJ%R[HV Public Const CDM_GETFILEPATH = (CDM_FIRST + &H1)
Z3DUDP O3DUDP
6L]HRIWKHEXIIHUSRLQWHGWRE\O3DUDP
3RLQWHUWRDEXIIHUZKLFKJHWVWKHSDWKDQGILOHQDPH Description
*HWVWKHSDWKDQGILOHQDPHVHOHFWHGLQDQ2SHQRU6DYH$VFRPPRQGLDORJER[ Return Value
$QHJDWLYHQXPEHULQGLFDWHVIDLOXUHRWKHUZLVHWKHQXPEHULQGLFDWHVWKHOHQJWKRIWKH
SDWKILOHQDPHDQGDWHUPLQDWLQJQXOOFKDUDFWHU
Public Const CDM_GETFOLDERPATH = (CDM_FIRST + &H2)
Z3DUDP O3DUDP
6L]HRIWKHEXIIHUSRLQWHGWRE\O3DUDP
3RLQWHUWRDEXIIHUZKLFKJHWVWKHSDWKDQGILOHQDPH Description
*HWVWKHSDWKRIWKHRSHQHGIROGHULQDQ2SHQRU6DYH$VFRPPRQGLDORJER[ Return Value
$QHJDWLYHQXPEHULQGLFDWHVIDLOXUHRWKHUZLVHWKHQXPEHULQGLFDWHVWKHOHQJWKRIWKH
SDWKILOHQDPHDQGWHUPLQDWLQJQXOOFKDUDFWHU
Public Const CDM_GETSPEC = (CDM_FIRST + &H0)
Z3DUDP O3DUDP
6L]HRIWKHEXIIHUSRLQWHGWRE\O3DUDP
3RLQWHUWRDEXIIHUZKLFKJHWVWKHSDWKDQGILOHQDPH Description
*HWVRQO\WKHILOHQDPHRIWKHVHOHFWHGILOHLQDQ2SHQRU6DYH$VFRPPRQGLDORJER[ Return Value $QHJDWLYHQXPEHULQGLFDWHVIDLOXUHRWKHUZLVHWKHQXPEHULQGLFDWHVWKHOHQJWKRIWKH
SDWKILOHQDPHDQGDWHUPLQDWLQJQXOOFKDUDFWHU
Public Const CDM_HIDECONTROL = (CDM_FIRST + &H5)
Z3DUDP O3DUDP
&RQWURO,'
8QXVHG Description
+LGHVDFRQWUROLQDQ2SHQRU6DYH$VFRPPRQGLDORJER[ Return Value 8QXVHG
Public Const CDM_SETCONTROLTEXT = (CDM_FIRST + &H4)
Z3DUDP O3DUDP
&RQWURO,'
3RLQWHUWRDQXOOWHUPLQDWHGVWULQJFRQWDLQLQJWKHWH[WIRUWKHFRQWURO Description 6HWVWKHWH[WRIDFRQWUROVSHFLILHGLQZ3DUDP Return Value 8QXVHG
Public Const CDM_SETDEFEXT = (CDM_FIRST + &H6)
Z3DUDP O3DUDP
8QXVHG
3RLQWHUWRDQXOOWHUPLQDWHGVWULQJFRQWDLQLQJWKHILOHQDPHH[WHQVLRQ Description
6HWVWKHGHIDXOWILOHQDPHH[WHQVLRQIRUDQ2SHQRU6DYH$VFRPPRQGLDORJER[ Return Value 8QXVHG
$0HVVDJHV6SHFLILFWRWKH)RQW&RPPRQ'LDORJ%R[ Public Const WM_CHOOSEFONT_GETLOGFONT = _USER + 1)
Z3DUDP O3DUDP
8QXVHG
3RLQWHUWRD/2*)217VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
*HWVLQIRUPDWLRQRQWKHFXUUHQWIRQWVHOHFWLRQLQWKH)RQWFRPPRQGLDORJER[ Return Value 8QXVHG
Public Const WM_CHOOSEFONT_SETLOGFONT = (WM_USER + 101)
Z3DUDP O3DUDP
8QXVHG
3RLQWHUWRD/2*)217VWUXFWXUHGHILQHGLQ$SSHQGL[& Description 6HWVWKHFXUUHQWIRQWLQD)RQWFRPPRQGLDORJER[ Return Value 8QXVHG
Public Const WM_CHOOSEFONT_SETFLAGS = (WM_USER + 102)
Z3DUDP O3DUDP
8QXVHG
3RLQWHUWRD&+226()217VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
6HWVWKHIODJVWRVSHFLI\KRZWKH)RQWFRPPRQGLDORJER[LVGLVSOD\HG Return Value 8QXVHG
$0HVVDJHV6SHFLILFWRWKH3DJH6HWXS&RPPRQ'LDORJ%R[ 1RWHLIWKH36'B(1$%/(3$*(3$,17+22.IODJLVVHWLQWKH3$*(6(783'/*IODJV PHPEHU\RXFDQLPSOHPHQWDVHFRQGKRRNIXQFWLRQ7KLVKRRNIXQFWLRQLQWHUFHSWVWKH
IROORZLQJPHVVDJHVZKLFKPRGLI\WKHORRNRIWKHVDPSOHSDJHLPDJHDWWKHWRSRIWKLV
FRPPRQGLDORJER[
Public Const WM_PSD_PAGESETUPDLG = (WM_USER)
Z3DUDP
7KHORZRUGHUZRUGFRQWDLQVWKHSDSHUVL]HWKHKLJKRUGHUZRUGFRQWDLQVWKH
RULHQWDWLRQRIWKHSDSHUDQGZKHWKHUWKHSULQWHULVDGRWPDWUL[RUD+HZOHWW3DFNDUG
O3DUDP
3ULQWHU&RQWURO/DQJXDJHGHYLFH
3RLQWHUWRD3$*(6(783'/*VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
1RWLILHVWKH3DJH6HWXSFRPPRQGLDORJER[3DJH3DLQW+RRNKRRNSURFHGXUHWKDWWKH
VDPSOHSDJHFRQWHQWVDUHDERXWWREHGUDZQRQWKHVFUHHQ Return Value
7UXHLIWKHLPDJHLVWREHGUDZQRQWKHVFUHHQ)DOVHRWKHUZLVH
Public Const WM_PSD_FULLPAGERECT = (WM_USER+1)
Z3DUDP O3DUDP
'HYLFHFRQWH[WKDQGOHWRWKHVDPSOHSDJHLPDJH
3RLQWHUWRD5(&7VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
1RWLILHVWKH3DJH6HWXSFRPPRQGLDORJER[KRRN3DJH3DLQW+RRNSURFHGXUHWKDWWKH
UHWXUQDGGUHVVUHFWDQJOHLVDERXWWREHGUDZQRQWKHVFUHHQ Return Value
7UXHLIWKHLPDJHLVWREHGUDZQRQWKHVFUHHQ)DOVHRWKHUZLVH
Public Const WM_PSD_MINMARGINRECT = (WM_USER+2)
Z3DUDP O3DUDP
'HYLFHFRQWH[WKDQGOHWRWKHVDPSOHSDJHLPDJH
3RLQWHUWRD5(&7VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
1RWLILHVWKH3DJH6HWXSFRPPRQGLDORJER[3DJH3DLQW+RRNKRRNSURFHGXUHWKDWWKH
VDPSOHSDJHLVDERXWWREHGUDZQRQWKHVFUHHQ Return Value
7UXHLIWKHLPDJHLVWREHGUDZQRQWKHVFUHHQ)DOVHRWKHUZLVH
Public Const WM_PSD_MARGINRECT = (WM_USER+3)
Z3DUDP O3DUDP
'HYLFHFRQWH[WKDQGOHWRWKHVDPSOHSDJHLPDJH
3RLQWHUWRD5(&7VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
1RWLILHVWKH3DJH6HWXSFRPPRQGLDORJER[KRRN3DJH3DLQW+RRNSURFHGXUHWKDWWKH
PDUJLQUHFWDQJOHLVDERXWWREHGUDZQRQWKHVFUHHQ Return Value
7UXHLIWKHLPDJHLVWREHGUDZQRQWKHVFUHHQ)DOVHRWKHUZLVH
Public Const WM_PSD_ENVSTAMPRECT = (WM_USER+5)
Z3DUDP O3DUDP
'HYLFHFRQWH[WKDQGOHWRWKHVDPSOHSDJHLPDJH
3RLQWHUWRD5(&7VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
1RWLILHVWKH3DJH6HWXSFRPPRQGLDORJER[KRRN3DJH3DLQW+RRNSURFHGXUHWKDWWKH
HQYHORSHVWDPSUHFWDQJOHLVDERXWWREHGUDZQRQWKHVFUHHQ Return Value
7UXHLIWKHLPDJHLVWREHGUDZQRQWKHVFUHHQ)DOVHRWKHUZLVH
Public Const WM_PSD_FULLPAGERECT = (WM_USER+6)
Z3DUDP O3DUDP
'HYLFHFRQWH[WKDQGOHWRWKHVDPSOHSDJHLPDJH
3RLQWHUWRD5(&7VWUXFWXUHGHILQHGLQ$SSHQGL[& Description
1RWLILHVWKH3DJH6HWXSFRPPRQGLDORJER[KRRN3DJH3DLQW+RRNSURFHGXUHWKDWWKH
VDPSOHSDJHUHFWDQJOHLVDERXWWREHGUDZQRQWKHVFUHHQ Return Value
7UXHLIWKHLPDJHLVWREHGUDZQRQWKHVFUHHQ)DOVHRWKHUZLVH
$SSHQGL[%$3,)XQFWLRQV 7KLVDSSHQGL[OLVWVWKH:LQGRZV$3,IXQFWLRQVXVHGLQWKLVERRNDORQJZLWKWKHLUV\QWD[DQGD
GHVFULSWLRQRIWKHLUSDUDPHWHUV
AttachThreadInput
)RUFHVPXOWLSOHWKUHDGVWRUHFHLYHPHVVDJHVIURPDVLQJOHPHVVDJHTXHXH
3ULYDWH'HFODUH)XQFWLRQ$WWDFK7KUHDG,QSXW/LEXVHUB
$OLDV$WWDFK7KUHDG,QSXWB
%\9DOLG$WWDFK$V/RQJB
%\9DOLG$WWDFK7R$V/RQJB?
%\9DOI$WWDFK$V/RQJ $V/RQJ
3DUDPHWHUV LG$WWDFK
7KHWKUHDG,'RIWKHWKUHDGWREHDWWDFKHGWRDQRWKHUWKUHDG VPHVVDJHTXHXH
LG$WWDFK7R
7KHWKUHDG,'RIWKHWKUHDGFRQWDLQLQJWKHPHVVDJHTXHXHWRZKLFKWKHWKUHDG
I$WWDFK
VSHFLILHGE\LG$WWDFKLVDWWDFKHG
7UXHVSHFLILHVWRDWWDFKWKHWZRWKUHDGV)DOVHVSHFLILHVWRGHWDFKWKHWZRWKUHDGV
5HWXUQ9DOXH LQGLFDWHVWKDWWKHIXQFWLRQIDLOHGDQ\RWKHUYDOXHLQGLFDWHVVXFFHVV
BroadcastSystemMessage
6HQGVDPHVVDJHWRPXOWLSOHUHFLSLHQWV7KHUHFLSLHQWVDUHVSHFLILHGLQWKHSGZSDUDPHWHURI
WKLVIXQFWLRQ
3XEOLF'HFODUH)XQFWLRQ%URDGFDVW6\VWHP0HVVDJH/LEXVHUB $OLDV%URDGFDVW6\VWHP0HVVDJHB
%\9DOGZ$V/RQJSGZ$V/RQJ%\9DOXQ$V/RQJ%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
3DUDPHWHUV GZ
6SHFLILHVRQHRUPRUHRIWKHIROORZLQJEURDGFDVWLQJIODJV BSF_ALLOWSFW
(QDEOHVWKHIRUHJURXQGZLQGRZWREHVHWE\WKHUHFLSLHQWLQWKH:LQGRZV
V\VWHP BSF_FLUSHDISK
)OXVKHVWKHGLVNDIWHUHDFKVHQWPHVVDJHLVSURFHVVHG BSF_FORCEIFHUNG
0HVVDJHLVVHQWHYHQLIRQHRUPRUHUHFLSLHQWVDUHKXQJ BSF_IGNORECURRENTTASK
3UHYHQWVWKHVHQGLQJDSSOLFDWLRQIURPUHFHLYLQJLWVRZQPHVVDJH BSF_NOHANG 6WRSVEURDGFDVWLQJPHVVDJHVLIRQHUHFLSLHQWLVKXQJ BSF_NOTIMEOUTIFNOTHUNG 'RHVQRWWLPHRXWXQOHVVDUHFLSLHQWLVKXQJ BSF_POSTMESSAGE 3RVWVWKHPHVVDJHLQVWHDGRIVHQGLQJLW BSF_QUERY
(DFKUHFLSLHQWPXVWUHVSRQGZLWKD7UXHYDOXHIRUWKHPHVVDJHWREHVHQWWRWKHQH[W
UHFLSLHQW BSF_SENDNOTIFYMESSAGE
8VHVWKH6HQG1RWLI\0HVVDJHIXQFWLRQWRVHQGWKHPHVVDJHLQWKH:LQGRZV
SGZ
V\VWHP
6SHFLILHVRQHRUPRUHRIWKHIROORZLQJIODJVWKDWGHWHUPLQHVWKHUHFLSLHQWVRIWKH
PHVVDJH BSM_ALLCOMPONENTS
%URDGFDVWVWRDOOFRPSRQHQWVLQWKHV\VWHP BSM_ALLDESKTOPS
%URDGFDVWVWRDOOGHVNWRSVLQ:LQGRZV17V\VWHPV BSM_APPLICATIONS %URDGFDVWVWRDOODSSOLFDWLRQV BSM_INSTALLABLEDRIVERS
%URDGFDVWVWRLQVWDOODEOHGULYHUVLQ:LQGRZV[V\VWHPV BSM_NETDRIVER %URDGFDVWVWRQHWZRUNGULYHUVLQ:LQGRZV[V\VWHPV BSM_VXDS XQ
%URDGFDVWVWRDOOV\VWHPOHYHOGHYLFHGULYHUVLQ:LQGRZV[V\VWHPV
0HVVDJHLGHQWLILHU
Z3DUDP O3DUDP
$GGLWLRQDOLQIRUPDWLRQIRUWKHPHVVDJHVSHFLILHGLQXQ
$GGLWLRQDOLQIRUPDWLRQIRUWKHPHVVDJHVSHFLILHGLQXQ
5HWXUQ9DOXH 5HWXUQVDSRVLWLYHYDOXHLIWKHPHVVDJHLVVXFFHVVIXOO\VHQWWRLWVUHFLSLHQWV5HWXUQVDLI
WKHIXQFWLRQZDVXQDEOHWRVHQGWKHPHVVDJH0HVVDJHVDUHVHQWWRUHFLSLHQWVGHWHUPLQHGE\
WKHSGZSDUDPHWHU
CallNextHookEx
8VHGLQDKRRN VILOWHUIXQFWLRQWRVHQGLQIRUPDWLRQRQWRWKHQH[WKRRNLQWKHFKDLQ
3ULYDWH'HFODUH)XQFWLRQ&DOO1H[W+RRN([/LEXVHUB
%\9DOK+RRN$V/RQJB
%\9DOQFRGH$V/RQJB
%\9DOZ3DUDP$V/RQJB
O3DUDP$V$Q\ $V/RQJ
3DUDPHWHUV K+RRN QFRGH
7KHKDQGOHWRWKHKRRN7KH6HW:LQGRZ+RRN([IXQFWLRQUHWXUQVWKLVKRRNKDQGOH $FRQVWDQWLGHQWLI\LQJWKHKRRNFRGH
Z3DUDP
7KHZ3DUDPDUJXPHQWSDVVHGLQWRWKHKRRNILOWHUIXQFWLRQ7KHYDOXHRIWKLV
O3DUDP
DUJXPHQWGHSHQGVRQWKHPHVVDJHWKDWLWLVDVVRFLDWHGZLWK
7KHO3DUDPDUJXPHQWSDVVHGLQWRWKHKRRNILOWHUIXQFWLRQ7KHYDOXHRIWKLVDUJXPHQW
GHSHQGVRQWKHPHVVDJHWKDWLWLVDVVRFLDWHGZLWK
5HWXUQ9DOXH 7KHUHWXUQYDOXHGHSHQGVRQWKHW\SHRIKRRNWKDWLVLQVWDOOHG
CallWindowProc
8VHGWRFDOODIXQFWLRQVSHFLILHGE\WKHOS3UHY:QG)XQFIXQFWLRQSRLQWHU
3XEOLF'HFODUH)XQFWLRQ&DOO:LQGRZ3URF/LEXVHU$OLDV&DOO:LQGRZ3URF$B
%\9DOOS3UHY:QG)XQF$V/RQJB
%\9DOK:QG$V/RQJB
%\9DO0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
3DUDPHWHUV O3UHY:QG)XQF K:QG 0VJ
$SRLQWHUWRWKHZLQGRZSURFHGXUHWREHFDOOHG 7KHKDQGOHRIDZLQGRZ 7KHPHVVDJHWRVHQGWRWKHWDUJHWZLQGRZSURFHGXUH
Z3DUDP O3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH
7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
5HWXUQ9DOXH 7KLVIXQFWLRQ VUHWXUQYDOXHGHSHQGVRQWKHW\SHRIPHVVDJHLGHQWLILHGE\WKH0VJDUJXPHQW
SURFHVVHG
ChooseColor
'LVSOD\VWKH&RORUFRPPRQGLDORJER[
3XEOLF'HFODUH)XQFWLRQ&KRRVH&RORU/LEFRPGOJGOO$OLDV&KRRVH&RORU$B
S&KRRVHFRORU$V&+226(&2/25 $V/RQJ
3DUDPHWHUV S&KRRVHFRORU
$SRLQWHUWRD&+226(&2/25VWUXFWXUH
5HWXUQ9DOXH 5HWXUQVLIWKHUHLVDQHUURUWKH&ORVHEXWWRQRQWKHWLWOHEDUZDVFOLFNHGRUWKH&DQFHO
EXWWRQZDVFOLFNHG2WKHUZLVHUHWXUQVDQRQ]HURYDOXH
ChooseFont
'LVSOD\VWKH)RQWFRPPRQGLDORJER[
3XEOLF'HFODUH)XQFWLRQ&KRRVH)RQW/LEFRPGOJGOO$OLDV&KRRVH)RQW$B
S&KRRVHIRQW$V&+226()217 $V/RQJ
3DUDPHWHUV S&KRRVHIRQW
$SRLQWHUWRD&+226()217VWUXFWXUH
5HWXUQ9DOXH 5HWXUQVLIWKHUHLVDQHUURUWKH&ORVHEXWWRQRQWKHWLWOHEDUZDVFOLFNHGRUWKH&DQFHO
EXWWRQZDVFOLFNHG2WKHUZLVHUHWXUQVDQRQ]HURYDOXH
CopyMemory
&RSLHVWKHFRQWHQWVRIRQHPHPRU\ORFDWLRQWRDQRWKHUPHPRU\ORFDWLRQ
3XEOLF'HFODUH6XE&RS\0HPRU\/LENHUQHO$OLDV5WO0RYH0HPRU\B
'HVWLQDWLRQ$V$Q\6RXUFH$V$Q\%\9DO/HQJWK$V/RQJ
3DUDPHWHUV 'HVWLQDWLRQ 6RXUFH /HQJWK
7KHGHVWLQDWLRQDGGUHVVWRZKLFKWKHLQIRUPDWLRQLVWREHFRSLHG 7KHVRXUFHDGGUHVVIURPZKLFKWKHLQIRUPDWLRQLVWREHFRSLHG 7KHOHQJWKLQE\WHVRIWKHLQIRUPDWLRQWREHFRSLHG
5HWXUQ9DOXH 1RQH
CreateWindowEx
&UHDWHVDZLQGRZ
3XEOLF'HFODUH)XQFWLRQ&UHDWH:LQGRZ([/LEXVHU$OLDV&UHDWH:LQGRZ([$B
/RQJ
%\9DOGZ([6W\OH$V/RQJ%\9DOOS&ODVV1DPH$V6WULQJB
%\9DOOS:LQGRZ1DPH$V6WULQJ%\9DOGZ6W\OH$V/RQJB
%\9DO[$V/RQJ%\9DO\$V/RQJ%\9DOQ:LGWK$V/RQJB
%\9DOQ+HLJKW$V/RQJ%\9DOK:QG3DUHQW$V/RQJB
%\9DOK0HQX$V/RQJ%\9DOK,QVWDQFH$V/RQJOS3DUDP$V$Q\ $V
GZ([6W\OH
2QHRUPRUHH[WHQGHGVW\OHVRIWKHZLQGRZ25HGWRJHWKHU WS_EX_APPWINDOW
$WRSOHYHOZLQGRZLVSODFHGRQWKHWDVNEDUZKHQWKHZLQGRZLVYLVLEOH WS_EX_CLIENTEDGE 6SHFLILHVDZLQGRZZLWKDERUGHUDQGDVXQNHQHGJH WS_EX_DLGMODALFRAME
6SHFLILHVDZLQGRZZLWKDGRXEOHERUGHU WS_EX_NOACTIVATE
8VHGLQ:LQGRZVWRVSHFLI\DZLQGRZWKDWDXVHUFDQQRWPDNHWKHIRUHJURXQG
ZLQGRZ WS_EX_NOPARENTNOTIFY
6SHFLILHVDFKLOGZLQGRZWKDWGRHVQRWVHQGWKH:0B3$5(17127,)<PHVVDJHWR
LWVSDUHQWZLQGRZ WS_EX_OVERLAPPEDWINDOW
(TXLYDOHQWWR:6B(;B&/,(17('*(25:6B(;B:,1'2:('*( WS_EX_STATICEDGE
6SHFLILHVDZLQGRZWKDWKDVDWKUHHGLPHQVLRQDOERUGHUEXWGRHVQRWWDNHXVHULQSXW
WS_EX_TOPMOST
6SHFLILHVDZLQGRZWKDWVKRXOGDOZD\VEHSODFHGRQWRSRIRWKHUZLQGRZVWKDWDUHVHW
WREHWRSPRVWZLQGRZV WS_EX_WINDOWEDGE
6SHFLILHVDZLQGRZZLWKDERUGHUDQGDUDLVHGHGJH
OS&ODVV1DPH
$VWULQJFRQWDLQLQJWKHQDPHRIWKHFODVVIURPZKLFKWKLVZLQGRZLQKHULWV
OS:LQGRZ1DPH GZ6W\OH
$VWULQJGLVSOD\HGLQWKHWLWOHEDURIWKHZLQGRZ
2QHRUPRUHZLQGRZVW\OHVRUFRQWUROVW\OHV25HGWRJHWKHU WS_BORDER 6SHFLILHVDZLQGRZZLWKDWKLQOLQHERUGHU WS_CAPTION 6SHFLILHVDZLQGRZZLWKDWLWOHEDU WS_CLIPCHILDREN
6SHFLILHVDZLQGRZWKDWGRHVQRWSDLQWWKHDUHDWKDWFRQWDLQVDFKLOGZLQGRZ WS_CLIPSIBLINGS
6SHFLILHVDZLQGRZWKDWGRHVQRWSDLQWDOORYHUODSSLQJFKLOGZLQGRZVRXWVLGHWKH
UHJLRQRIWKHFKLOGZLQGRZ VFOLHQWDUHD WS_DLGFRAME
6SHFLILHVDZLQGRZZLWKDGLDORJER[ERUGHUDQGQRFDSWLRQ WS_MINIMIZE 7KHZLQGRZLVFUHDWHGLQDPLQLPL]HGVWDWH WS_MINIMIZEBOX
6SHFLILHVDZLQGRZZLWKDPLQLPL]HEXWWRQLQWKHWLWOHEDU WS_MAXIMIZE 7KHZLQGRZLVFUHDWHGLQDPD[LPL]HGVWDWH WS_MAXIMIZEBOX
6SHFLILHVDZLQGRZZLWKDPD[LPL]HGEXWWRQLQWKHWLWOHEDU WS_OVERLAPPED 6SHFLILHVDZLQGRZZLWKDWLWOHEDUDQGDERUGHU WS_OVERLAPPEDWINDOW
(TXLYDOHQWWR:6B29(5/$33('25:6B&$37,2125:6B6<60(1825
:6B7+,&.)5$0(25:6B0,1,0,=(%2;25:6B0$;,0,=(%2; WS_POPUP 6SHFLILHVDSRSXSZLQGRZ WS_POPUPWINDOW
6SHFLILHVDSRSXSZLQGRZZLWKWKHVHSURSHUWLHV:6B%25'(525:6B3238325
:6B6<60(1825:6B&$37,21 WS_SYSMENU
6SHFLILHVDZLQGRZFRQWDLQLQJDZLQGRZPHQXRQLWVWLWOHEDU WS_THICKFRAME 6SHFLILHVDZLQGRZZLWKDVL]LQJERUGHU WS_TILED 6DPHDV:6B29(5/$33('
WS_TILEDWINDOW
6DPHDV:6B29(5/$33(':,1'2: WS_VISIBLE [ \ Q:LGWK Q+HLJKW
6SHFLILHVDZLQGRZWKDWLVLQLWLDOO\YLVLEOH 7KHSRVLWLRQRIWKHZLQGRZZLWKUHVSHFWWRWKHOHIWVLGHRIWKHVFUHHQ 7KHSRVLWLRQRIWKHZLQGRZZLWKUHVSHFWWRWKHWRSRIWKHVFUHHQ 7KHZLGWKRIWKHZLQGRZ 7KHKHLJKWRIWKHZLQGRZ
K:QG3DUHQW K0HQX
+DQGOHWRWKHSDUHQWRURZQHUZLQGRZWRWKLVZLQGRZ
+DQGOHWRWKHPHQXWKDWLVXVHGE\WKLVZLQGRZ
K,QVWDQFH
+DQGOHRIWKHPRGXOHLQVWDQFHWREHDVVRFLDWHGZLWKWKLVZLQGRZ
OS3DUDP
3RLQWHUWRDYDOXHWKDWFDQEHSDVVHGLQWRWKHZLQGRZWKURXJKWKH&5($7(6758&7
VWUXFWXUH
5HWXUQ9DOXH ,IWKLVIXQFWLRQVXFFHHGVLQFUHDWLQJWKHZLQGRZDKDQGOHWRWKDWZLQGRZLVSDVVHGEDFN
RWKHUZLVHDLVUHWXUQHG
DefWindowProc
3DVVHVDPHVVDJHWRWKHGHIDXOWZLQGRZSURFHGXUHIRUGHIDXOWSURFHVVLQJ
3XEOLF'HFODUH)XQFWLRQ'HI:LQGRZ3URF/LEXVHUB
$OLDV'HI:LQGRZ3URF$B
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
%\9DOKZQG$V/RQJ%\9DOZ0VJ$V/RQJB
3DUDPHWHUV KZQG
7KHKDQGOHRIWKHZLQGRZWRZKLFKWKHPHVVDJHLVGLUHFWHG
X0VJ
$FRQVWDQWWKDWLGHQWLILHVWKHPHVVDJHEHLQJVHQW
Z3DUDP
([WUDLQIRUPDWLRQWKDWWKHPHVVDJHFDQFRQWDLQ7KLVYDOXHLVGHWHUPLQHGE\WKH
O3DUDP
PHVVDJH
([WUDLQIRUPDWLRQWKDWWKHPHVVDJHFDQFRQWDLQ7KLVYDOXHLVGHWHUPLQHGE\WKH
PHVVDJH
5HWXUQ9DOXH 7KHUHWXUQYDOXHGHSHQGVRQWKHPHVVDJH
EnumChildWindows
(QXPHUDWHVWKHFKLOGZLQGRZVEHORQJLQJWRDVSHFLILFSDUHQWZLQGRZ
3XEOLF'HFODUH)XQFWLRQ(QXP&KLOG:LQGRZV/LEXVHU$OLDV(QXP&KLOG:LQGRZVB
%\9DOK:QG3DUHQW$V/RQJ%\9DOOS(QXP)XQF$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
3DUDPHWHUV K:QG3DUHQW
7KHKDQGOHWRWKHSDUHQWZLQGRZZKRVHFKLOGZLQGRZVZHZDQWWRHQXPHUDWH
OS(QXP)XQF O3DUDP
$SRLQWHUWRDFDOOEDFNIXQFWLRQ
$Q\RWKHUGDWDWKDWQHHGVWREHVHQWWRWKHFDOOEDFNIXQFWLRQ
5HWXUQ9DOXH 5HWXUQVLIWKHIXQFWLRQIDLOVDQ\RWKHUYDOXHLQGLFDWHVVXFFHVV
FindText
'LVSOD\VWKH)LQGFRPPRQGLDORJER[
3XEOLF'HFODUH)XQFWLRQ)LQG7H[W/LEFRPGOJGOO$OLDV)LQG7H[W$B
S)LQGUHSODFH$V),1'5(3/$&( $V/RQJ
3DUDPHWHUV S)LQGUHSODFH
$SRLQWHUWRD),1'5(3/$&(VWUXFWXUH
5HWXUQ9DOXH 5HWXUQVLIWKHUHLVDQHUURUWKH&ORVHEXWWRQRQWKHWLWOHEDUZDVFOLFNHGRUWKH&DQFHO
EXWWRQZDVFOLFNHG2WKHUZLVHUHWXUQVDQRQ]HURYDOXH
FindWindow
6HDUFKHVIRUWKHVSHFLILHGWRSOHYHOZLQGRZ
3XEOLF'HFODUH)XQFWLRQ)LQG:LQGRZ/LEXVHU$OLDV)LQG:LQGRZ$B
/RQJ
%\9DOOS&ODVV1DPH$V6WULQJ%\9DOOS:LQGRZ1DPH$V6WULQJ $V
3DUDPHWHUV OS&ODVV1DPH
$VWULQJWKDWFRQWDLQVWKHZLQGRZFODVVQDPHRIWKHZLQGRZEHLQJVHDUFKHGIRU
OS:LQGRZ1DPH
$VWULQJWKDWFRQWDLQVWKHZLQGRZQDPHRIWKHZLQGRZEHLQJVHDUFKHGIRU
5HWXUQ9DOXH 5HWXUQVWKHK:QGRIWKHILUVWWRSOHYHOZLQGRZWKDWPDWFKHVWKHFULWHULD5HWXUQVLIQR
ZLQGRZVPDWFKWKHVSHFLILHGFULWHULD,IPRUHWKDQRQHZLQGRZLVIRXQGLWUHWXUQVWKHZLQGRZ
KLJKHVWLQWKH=RUGHU
FindWindowEx
6HDUFKHVIRUDVSHFLILHGFKLOGZLQGRZ
3ULYDWH'HFODUH)XQFWLRQ)LQG:LQGRZ([/LEXVHU$OLDV)LQG:LQGRZ([$B
%\9DOK:QG$V/RQJ%\9DOK:QG$V/RQJB
%\9DOOSV]$V6WULQJ%\9DOOSV]$V6WULQJ $V/RQJ
3DUDPHWHUV K:QG
7KHK:QGRIWKHSDUHQWZLQGRZWRWKHZLQGRZWKDW\RXZDQWWRILQG7KHIXQFWLRQ
XVHVWKLVSDUDPHWHUDVDVWDUWLQJSRLQWIRUVHDUFKLQJIRUWKHWDUJHWZLQGRZ,I1XOOWKH
K:QG
IXQFWLRQXVHVWKHGHVNWRSDVWKHSDUHQWZLQGRZ
7KHK:QGRIDQ\FKLOGZLQGRZVWRWKHZLQGRZVSHFLILHGE\WKHK:QGSDUDPHWHU,ID
YDOLGFKLOGZLQGRZKDQGOHLVSURYLGHGWKLVIXQFWLRQVWDUWVVHDUFKLQJWKURXJKDOOWKH
OSV] OSV]
ZLQGRZVWKDWDUHFKLOGUHQWRWKHZLQGRZVSHFLILHGE\WKLVSDUDPHWHU
7KHFODVVQDPHRUFODVVDWRPRIWKHZLQGRZWKDWZHDUHVHDUFKLQJIRU 7KHFDSWLRQRIWKHZLQGRZWKDWZHDUHVHDUFKLQJIRU
5HWXUQ9DOXH ,IWKLVIXQFWLRQVXFFHHGVWKHK:QGRIWKHZLQGRZLVUHWXUQHGRWKHUZLVHLWUHWXUQVD
LQGLFDWLQJIDLOXUH
GetClassInfoEx
5HWXUQVLQIRUPDWLRQDERXWWKHVSHFLILHGFODVV
3XEOLF'HFODUH)XQFWLRQ*HW&ODVV,QIR([/LEXVHU$OLDV*HW&ODVV,QIR([$B
%\9DOK,QVWDQFH$V/RQJ%\9DOOS&ODVV1DPH$V6WULQJB
OS:QG&ODVV$V:1'&/$66(; $V/RQJ
3DUDPHWHUV K,QVWDQFH
+DQGOHWRWKHDSSOLFDWLRQLQVWDQFHWKDWFUHDWHGWKHFODVV7KLVDUJXPHQWLV18//LI
WKHV\VWHPFUHDWHGWKHFODVVV\VWHPZLGHFODVV
OS&ODVV1DPH
7KHQDPHRUFODVVDWRPRIDUHJLVWHUHGFODVV
OS:QG&ODVV
3RLQWHUWRD:1'&/$66(;VWUXFWXUHZKLFKLVSDVVHGEDFNWRWKHFDOOLQJIXQFWLRQ
5HWXUQ9DOXH 5HWXUQVDQRQ]HURYDOXHLILWVXFFHVVIXOO\UHWXUQVDZLQGRZFODVVVWUXFWXUH5HWXUQVLIWKH
IXQFWLRQIDLOV
GetDeskTopWindow
5HWXUQVDQK:QGWRWKHGHVNWRSZLQGRZ
3XEOLF'HFODUH)XQFWLRQ*HW'HVNWRS:LQGRZ/LEXVHUB
$OLDV*HW'HVNWRS:LQGRZ $V/RQJ
3DUDPHWHUV 7KLVIXQFWLRQWDNHVQRDUJXPHQWV
5HWXUQ9DOXH 5HWXUQVWKHGHVNWRSZLQGRZKDQGOH
GetDlgItem
5HWXUQVDKDQGOHWRDVSHFLILHGFRQWUROLQDGLDORJER[
3XEOLF'HFODUH)XQFWLRQ*HW'OJ,WHP/LEXVHU$OLDV*HW'OJ,WHPB
%\9DOK'OJ$V/RQJ%\9DOQ,''OJ,WHP$V/RQJ $V/RQJ
3DUDPHWHUV K'OJ
7KHKDQGOHWRWKHGLDORJER[ZKHUHWKHFRQWUROLVORFDWHG7KLVFDQEHHLWKHUWKH
GHIDXOWFRPPRQGLDORJER[RUWKHFKLOGGLDORJER[
Q,''OJ,WHP
7KH,'RIWKHFRQWUROLQWKHUHVRXUFHILOH
5HWXUQ9DOXH 5HWXUQVWKHKDQGOHRIWKHFRQWUROWKDW\RXVSHFLI\2WKHUZLVHUHWXUQVD
GetMessage
5HWULHYHVDVLQJOHPHVVDJHIURPWKHPHVVDJHTXHXHRIWKHWKUHDGLQZKLFKWKLVIXQFWLRQZDV
FDOOHG
3XEOLF'HFODUH)XQFWLRQ*HW0HVVDJH/LEXVHU$OLDV*HW0HVVDJH$B
OS0VJ$V06*%\9DOKZQG$V/RQJ%\9DOZ0VJ)LOWHU0LQ$V/RQJ
%\9DOZ0VJ)LOWHU0D[$V/RQJ $V/RQJ
3DUDPHWHUV OS0VJ KZQG
$/RQJSRLQWHUWRDQ06*VWUXFWXUHWKDWUHFHLYHVWKHPHVVDJH 7KHKDQGOHRIWKHZLQGRZZKRVHPHVVDJHVDUHWREHUHDGIURPWKHTXHXH,IWKLVLV
]HURDOOPHVVDJHVZLOOEHUHDG
Z0VJ)LOWHU0LQ
7KHPLQLPXPPHVVDJHYDOXHWKDWLVUHDGIURPWKHPHVVDJHTXHXH
Z0VJ)LOWHU0D[
7KHPD[LPXPPHVVDJHYDOXHWKDWLVUHWULHYHGIURPWKHPHVVDJHTXHXH,IWKLVYDOXH
LV]HURDOOPHVVDJHVVWDUWLQJZLWKWKHZ0VJ)LOWHU0LQYDOXHDUHUHDGIURPWKH
PHVVDJHTXHXH
5HWXUQ9DOXH ,IDQHUURURFFXUVWKLVIXQFWLRQZLOOUHWXUQD,IWKLVIXQFWLRQSURFHVVHVD:0B48,7
PHVVDJHLWZLOOUHWXUQD2WKHUZLVHLWZLOOUHWXUQDQRQ]HURYDOXH
GetParent
5HWXUQVDQK:QGRIWKHSDUHQWZLQGRZWRWKHVSHFLILHGZLQGRZ
3XEOLF'HFODUH)XQFWLRQ*HW3DUHQW/LEXVHU$OLDV*HW3DUHQWB
3DUDPHWHUV KZQG
%\9DOKZQG$V/RQJ $V/RQJ
7KHKDQGOHRIWKHFKLOGZLQGRZ
5HWXUQ9DOXH 7KHKDQGOHRIWKDWFKLOG VSDUHQWZLQGRZ
GetSaveFileName
'LVSOD\VWKH6DYH$VFRPPRQGLDORJER[
3ULYDWH'HFODUH)XQFWLRQ*HW6DYH)LOH1DPH/LEFRPGOJGOOB
$OLDV*HW6DYH)LOH1DPH$S6DYHILOHQDPH$V23(1),/(1$0( $V/RQJ
3DUDPHWHUV S6DYH)LOHQDPH
$SRLQWHUWRDQ23(1),/(1$0(VWUXFWXUH
5HWXUQ9DOXH 5HWXUQVLIWKHUHLVDQHUURUWKH&ORVHEXWWRQRQWKHWLWOHEDUZDVFOLFNHGRUWKH&DQFHO
EXWWRQZDVFOLFNHG2WKHUZLVHUHWXUQVDQRQ]HURYDOXH
GetWindow
%\ILUVWXVLQJWKH*HW'HVNWRS:LQGRZRUWKH)LQG:LQGRZIXQFWLRQV\RXFDQREWDLQDKDQGOH
WKDWWKH*HW:LQGRZIXQFWLRQFDQXVHWRILQGDUHODWHGZLQGRZ
3XEOLF'HFODUH)XQFWLRQ*HW:LQGRZ/LEXVHU$OLDV*HW:LQGRZB
%\9DOKZQG$V/RQJ%\9DOZ&PG$V/RQJ $V/RQJ
3DUDPHWHUV KZQG Z&PG
7KHKDQGOHRIDZLQGRZXVHGDVDVWDUWLQJSRLQW 'HILQHVWKHUHODWLRQVKLSEHWZHHQWKHZLQGRZSURYLGHGE\WKHKZQGDUJXPHQWDQGWKH
ZLQGRZKDQGOHWREHUHWXUQHGE\WKLVIXQFWLRQ3RVVLEOHYDOXHVRIWKHZ&PG
SDUDPHWHUDUHGHVFULEHGLQJUHDWHUGHWDLOEHORZ7KHZ&PGDUJXPHQWFDQFRQWDLQ
DQ\RIWKHIROORZLQJYDOXHV GW_CHILD (5)
7KHUHWXUQHGZLQGRZKDQGOHLVWKHILUVWFKLOGZLQGRZIRXQGLQWKH=RUGHU GW_ENABLEDPOPUP (6)
7KHUHWXUQHGZLQGRZKDQGOHLVDSRSXSZLQGRZRZQHGE\WKHZLQGRZUHSUHVHQWHG
E\WKHKZQGDUJXPHQW)RU:LQGRZVRQO\ GW_HWNDFIRST (0)
7KHUHWXUQHGZLQGRZKDQGOHLVWKHILUVWLQWKH=RUGHUZLWKWKHVDPHZLQGRZW\SH
WRSPRVWWRSOHYHORUFKLOG DVWKHZLQGRZUHSUHVHQWHGE\WKHKZQGDUJXPHQW GW_HWNDLAST (1)
7KHUHWXUQHGZLQGRZKDQGOHLVWKHODVWLQWKH=RUGHUZLWKWKHVDPHZLQGRZW\SH
WRSPRVWWRSOHYHORUFKLOG DVWKHZLQGRZUHSUHVHQWHGE\WKHKZQGDUJXPHQW GW_HWNDNEXT (2) 7KHUHWXUQHGZLQGRZKDQGOHLVQH[WLQWKH=RUGHUZLWKWKHVDPHZLQGRZW\SH
WRSPRVWWRSOHYHORUFKLOG DVWKHZLQGRZUHSUHVHQWHGE\WKHKZQGDUJXPHQW GW_HWNDPREV (3)
7KHUHWXUQHGZLQGRZKDQGOHLVSUHYLRXVLQWKH=RUGHUZLWKWKHVDPHZLQGRZW\SH
WRSPRVWWRSOHYHORUFKLOG DVWKHZLQGRZUHSUHVHQWHGE\WKHKZQGDUJXPHQW GW_OWNER (4)
7KHUHWXUQHGZLQGRZKDQGOHLVWKHRZQHURIWKHZLQGRZUHSUHVHQWHGE\WKHKZQG
DUJXPHQW
5HWXUQ9DOXH $ZLQGRZKDQGOHLVUHWXUQHGEDVHGRQLWVUHODWLRQVKLSZLWKWKHZLQGRZSURYLGHGLQWKHKZQG
DUJXPHQW7KHZ&PGFRQVWDQWGHWHUPLQHVWKLVUHODWLRQVKLSLIQRZLQGRZPHHWVWKHFULWHULRQ
GHILQHGE\Z&PGWKHIXQFWLRQUHWXUQVHLWKHURUKZQG
GetWindowLong
5HWXUQVWKHVSHFLILHGLQIRUPDWLRQDERXWDZLQGRZ
3XEOLF'HFODUH)XQFWLRQ*HW:LQGRZ/RQJ/LEXVHUB
$OLDV*HW:LQGRZ/RQJ$B
%\9DOKZQG$V/RQJ%\9DOQ,QGH[$V/RQJ $V/RQJ
3DUDPHWHUV KZQG Q,QGH[
$ZLQGRZKDQGOH
$FRQVWDQWWKDWGHWHUPLQHVWKHW\SHRIYDOXHWKDWWKLVIXQFWLRQZLOOUHWXUQ7KH
*:/B+,167$1&(FRQVWDQWRU PXVWEHSURYLGHGWRWKHQ,QGH[SDUDPHWHUWR
UHWXUQWKHDSSOLFDWLRQ VLQVWDQFHKDQGOH
5HWXUQ9DOXH ,IVXFFHVVIXOUHWXUQVWKHYDOXHUHTXHVWHG2WKHUZLVHUHWXUQVD]HUR
GetWindowRect
5HWXUQVWKHWRSOHIWKHLJKWDQGZLGWKRIWKHVSHFLILHGZLQGRZ VERXQGLQJUHFWDQJOH
3ULYDWH'HFODUH)XQFWLRQ*HW:LQGRZ5HFW/LEXVHUB
%\9DOKZQG$V/RQJOS5HFW$V5(&7 $V/RQJ
3DUDPHWHUV KZQG OS5HFW
7KHKDQGOHRIWKHZLQGRZ $SRLQWHUWRD5(&7VWUXFWXUH
5HWXUQ9DOXH ,IVXFFHVVIXOUHWXUQVDQRQ]HURYDOXH2WKHUZLVHUHWXUQVD]HUR
OutputDebugStringA
'LVSOD\VWKHVSHFLILHGVWULQJLQDGHEXJJLQJZLQGRZ
3XEOLF'HFODUH6XE2XWSXW'HEXJ6WULQJ$/LENHUQHO$OLDV2XWSXW'HEXJ6WULQJ$B
%\9DOOS2XWSXW6WULQJ$V6WULQJ
3DUDPHWHUV OS2XWSXW6WULQJ
7KHVWULQJWKDWZLOOEHVHQWWRWKHGHEXJJHUKRRNHGXSWRWKHFXUUHQWDSSOLFDWLRQ
5HWXUQ9DOXH
1RQH
PageSetupDlg
'LVSOD\VD3DJH6HWXSFRPPRQGLDORJER[
3XEOLF'HFODUH)XQFWLRQ3DJH6HWXS'OJ/LEFRPGOJGOO$OLDV3DJH6HWXS'OJ$B
S3DJHVHWXSGOJ$V3$*(6(783'/* $V/RQJ
3DUDPHWHUV S3DJHVHWXSGOJ
$SRLQWHUWRD3$*(6(783'/)VWUXFWXUH
5HWXUQ9DOXH 5HWXUQVLIWKHUHLVDQHUURUWKH&ORVHEXWWRQRQWKHWLWOHEDUZDVFOLFNHGRUWKH&DQFHOEXWWRQ
ZDVFOLFNHG2WKHUZLVHUHWXUQVDQRQ]HURYDOXH
PeekMessage
3HHN0HVVDJHLVVLPLODUWR*HW0HVVDJHLQWKDWLWJHWVDPHVVDJHIURPWKHPHVVDJHTXHXHRI
WKHWKUHDGWKDWFDOOVWKLV7KHPDLQGLIIHUHQFHLVWKDW3HHN0HVVDJHGRHVQRWDXWRPDWLFDOO\
UHPRYHWKHPHVVDJHIURPWKHPHVVDJHTXHXHDQG*HW0HVVDJHGRHV
3XEOLF'HFODUH)XQFWLRQ3HHN0HVVDJH/LEXVHU$OLDV3HHN0HVVDJH$B
OS0VJ$V06*%\9DOKZQG$V/RQJ%\9DOZ0VJ)LOWHU0LQ$V/RQJB
%\9DOZ0VJ)LOWHU0D[$V/RQJ%\9DOZ5HPRYH0VJ$V/RQJ $V/RQJ
3DUDPHWHUV OS0VJ KZQG
$/RQJSRLQWHUWRDQ06*VWUXFWXUH 7KHKDQGOHRIWKHZLQGRZZKRVHPHVVDJHVDUHWREHUHDGIURPWKHTXHXH,IWKLVLV
]HURDOOPHVVDJHVZLOOEHUHDG
Z0VJ)LOWHU0LQ
7KHPLQLPXPPHVVDJHYDOXHWKDWLVUHDGIURPWKHPHVVDJHTXHXH
Z0VJ)LOWHU0D[
7KHPD[LPXPPHVVDJHYDOXHWKDWLVUHWULHYHGIURPWKHPHVVDJHTXHXH,IWKLVYDOXH
LV]HURDOOPHVVDJHVVWDUWLQJZLWKWKHZ0VJ)LOWHU0LQYDOXHDUHUHDGIURPWKH
PHVVDJHTXHXH
Z5HPRYH0VJ
,IWKLVLVVHWWRWKHPHVVDJHLVUHDGDQGWKHQUHPRYHGIURPWKHTXHXH,IWKLVLVVHW
WRWKHPHVVDJHLVUHDGEXWOHIWRQWKHTXHXH
5HWXUQ9DOXH ,IWKHUHDUHQRPHVVDJHVRQWKHTXHXHWKHUHWXUQYDOXHIRUWKLVIXQFWLRQLV]HUR$QRQ]HUR
UHWXUQYDOXHPHDQVWKDWDPHVVDJHKDVEHHQUHDGIURPWKHTXHXH
PostMessage
7KLVIXQFWLRQVLPSO\SRVWVDPHVVDJHWRWKHPHVVDJHTXHXHRIRQHRUPRUHWKUHDGV$IWHU
SRVWLQJWKHPHVVDJHWKH3RVW0HVVDJHIXQFWLRQUHWXUQVLWGRHVQRWZDLWIRUDUHVSRQVHWRWKH
SRVWHGPHVVDJHDVGRHV6HQG0HVVDJH
3XEOLF'HFODUH)XQFWLRQ3RVW0HVVDJH/LEXVHU$OLDV3RVW0HVVDJH$B
%\9DOKZQG$V/RQJ%\9DOZ0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
3DUDPHWHUV KZQG
7KHZLQGRZKDQGOHWKDWWKHPHVVDJHLVGLUHFWHGWR,IWKLVSDUDPHWHULVVHWWR
+:1'B%52$'&$67WKHPHVVDJHLVSRVWHGWRDOOWRSOHYHOZLQGRZVLQWKHV\VWHP
,IWKLVSDUDPHWHULVVHWWR18//WKHPHVVDJHLVSRVWHGWRWKHPHVVDJHTXHXHRIWKH
X0VJ O3DUDP
WKUHDGLQZKLFKWKLVIXQFWLRQZDVFDOOHG 7KHPHVVDJHLGHQWLILHU 7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
Z3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH
5HWXUQ9DOXH 7KHUHWXUQYDOXHLVQRQ]HURLIWKHIXQFWLRQVXFFHHGHGLQSRVWLQJWKHPHVVDJHRWKHUZLVH
UHWXUQVD]HURYDOXH
PostQuitMessage
3RVWVD:0B48,7PHVVDJHWRWKHPHVVDJHTXHXHRIWKHWKUHDGWKDWFDOOHGWKLVIXQFWLRQ
3XEOLF'HFODUH6XE3RVW4XLW0HVVDJH/LEXVHU$OLDV3RVW4XLW0HVVDJHB
%\9DOQ([LW&RGH$V/RQJ
3DUDPHWHUV Q([LW&RGH
$FRGHWKDWLVVHQWWRWKHZ3DUDPSDUDPHWHURIWKH:0B48,7PHVVDJH
5HWXUQ9DOXH 1RQH
PostThreadMessage
7KLVIXQFWLRQXVHVWKHDFWXDOWKUHDG,'WRGHWHUPLQHZKLFKPHVVDJHTXHXHLVWRUHFHLYHWKH
PHVVDJH7KLVIXQFWLRQDOVRGRHVQRWZDLWIRUDUHVSRQVHWRWKHSRVWHGPHVVDJH7KLV
IXQFWLRQLVGHILQHGDVIROORZV
3XEOLF'HFODUH)XQFWLRQ3RVW7KUHDG0HVVDJH/LEXVHUB $OLDV3RVW7KUHDG0HVVDJH$B
%\9DOLG7KUHDG$V/RQJ%\9DOPVJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
3DUDPHWHUV LG7KUHDG
7KHWKUHDGLGHQWLILHUWKDWWKHPHVVDJHLVSRVWHGWR
XVLQJWKH9LVXDO%DVLF$SS7KUHDG,'PHWKRGRUE\XVLQJHLWKHURIWKH
X0VJ O3DUDP
*HW&XUUHQW7KUHDG,'RU*HW:LQGRZ7KUHDG3URFHVV,G$3,IXQFWLRQV 7KHPHVVDJHLGHQWLILHU 7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
Z3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH
5HWXUQ9DOXH 7KHUHWXUQYDOXHLVQRQ]HURLIWKHIXQFWLRQVXFFHHGHGLQSRVWLQJWKHPHVVDJHRWKHUZLVH
UHWXUQVD]HURYDOXH
PrintDlg
'LVSOD\VWKH3ULQWFRPPRQGLDORJER[
3XEOLF'HFODUH)XQFWLRQ3ULQW'OJ/LEFRPGOJGOO$OLDV3ULQW'OJ$B
S3ULQWGOJ$V35,17'/* $V/RQJ
3DUDPHWHUV S3ULQWGOJ
$SRLQWHUWRD35,17'/*VWUXFWXUH
5HWXUQ9DOXH 5HWXUQVLIWKHUHLVDQHUURUWKH&ORVHEXWWRQRQWKHWLWOHEDUZDVFOLFNHGRUWKH&DQFHO
EXWWRQZDVFOLFNHG2WKHUZLVHUHWXUQVDQRQ]HURYDOXH
PrintDlgEx
'LVSOD\VWKH3ULQW3URSHUW\6KHHWFRPPRQGLDORJER[
3XEOLF'HFODUH)XQFWLRQ3ULQW'OJ([/LEFRPGOJGOO$OLDV3ULQW'OJ$B
S3ULQWGOJ$V35,17'/*(; $V/RQJ
3DUDPHWHUV S3ULQJGOJ
$SRLQWHUWRD35,17'/*(;VWUXFWXUH
5HWXUQ9DOXH 5HWXUQVLIWKHUHLVDQHUURUWKH&ORVHEXWWRQRQWKHWLWOHEDUZDVFOLFNHGRUWKH&DQFHO
EXWWRQZDVFOLFNHG2WKHUZLVHUHWXUQVDQRQ]HURYDOXH
RegisterClassEx
5HJLVWHUVDQHZZLQGRZVFODVVVRWKDWLWFDQEHXVHGLQVXEVHTXHQWZLQGRZFUHDWLRQ
3XEOLF'HFODUH)XQFWLRQ5HJLVWHU&ODVV([/LEXVHUB
$OLDV5HJLVWHU&ODVV([$B
SF:QG&ODVV([$V:1'&/$66(; $V,QWHJHU
3DUDPHWHUV SF:QG&ODVV([
$SRLQWHUWRWKH:1'&/$66(;VWUXFWXUH
5HWXUQ9DOXH 5HWXUQVDFODVVDWRPZKLFKLVDXQLTXHLGHQWLILHUWRWKHQHZO\UHJLVWHUHGFODVV$UHWXUQYDOXH
RILQGLFDWHVIDLOXUH
RegisterWindowMessage
5HJLVWHUVDQHZPHVVDJHWKDWWKHV\VWHPFDQXVH
3XEOLF'HFODUH)XQFWLRQ5HJLVWHU:LQGRZ0HVVDJH/LEXVHUB $OLDV5HJLVWHU:LQGRZ0HVVDJH$B
%\9DOOS6WULQJ$V6WULQJ $V/RQJ
3DUDPHWHUV OS6WULQJ
$QXOOWHUPLQDWHGVWULQJWKDWLGHQWLILHVWKHQHZPHVVDJH
5HWXUQ9DOXH 5HWXUQVDXQLTXHQXPEHULGHQWLI\LQJWKHPHVVDJHLQWKHUDQJHRI +&WR +))))
0HVVDJHVLQWKLVUDQJHDUHJOREDOWRWKHV\VWHPWKHUHIRUHDIWHUDPHVVDJHLVUHJLVWHUHGDQ\
DSSOLFDWLRQFDQXVHLW,IDLVUHWXUQHGWKHPHVVDJHIDLOHGWRUHJLVWHU
ReleaseCapture
5HOHDVHVWKHPRXVHFDSWXUHIRUDZLQGRZ
3ULYDWH'HFODUH)XQFWLRQ5HOHDVH&DSWXUH/LEXVHUB
$OLDV5HOHDVH&DSWXUH $V/RQJ
3DUDPHWHUV 7KLVIXQFWLRQWDNHVQRSDUDPHWHUV
5HWXUQ9DOXH 5HWXUQVDQRQ]HURYDOXHLIWKHIXQFWLRQVXFFHHGVLQUHOHDVLQJWKHPRXVHFDSWXUHRQWKH
ZLQGRZRUDLIWKHIXQFWLRQIDLOHG
ReplaceText
'LVSOD\VWKH5HSODFHFRPPRQGLDORJER[
3XEOLF'HFODUH)XQFWLRQ5HSODFH7H[W/LEFRPGOJGOO$OLDV5HSODFH7H[W$B
S)LQGUHSODFH$V),1'5(3/$&( $V/RQJ
3DUDPHWHUV S)LQGUHSODFH
$SRLQWHUWRD),1'5(3/$&(VWUXFWXUH
5HWXUQ9DOXH 5HWXUQVLIWKHUHLVDQHUURUWKH&ORVHEXWWRQRQWKHWLWOHEDUZDVFOLFNHGRUWKH&DQFHO
EXWWRQZDVFOLFNHG2WKHUZLVHUHWXUQVDQRQ]HURYDOXH
SendDlgItemMessage
6HQG'OJ,WHP0HVVDJHRSHUDWHVVLPLODUO\WR6HQG0HVVDJH%RWKIXQFWLRQVDUHV\QFKURQRXV
DQGERWKUHWXUQDYDOXHWKDWGHSHQGVRQWKHPHVVDJHVHQW7KHPDLQGLIIHUHQFHEHWZHHQ
WKHVHWZRIXQFWLRQVLVWKDW\RXFDQVSHFLI\DFRQWURO,'LQ6HQG'OJ,WHP0HVVDJH7KLVDOORZV
DPHVVDJHWREHVHQWWRDFRQWUROZKHQ\RXNQRZLWV,'EXWQRWLWVKZQG
3XEOLF'HFODUH)XQFWLRQ6HQG'OJ,WHP0HVVDJH/LEXVHUB $OLDV6HQG'OJ,WHP0HVVDJH$B
%\9DOK'OJ$V/RQJ%\9DOQ,''OJ,WHP$V/RQJB
%\9DOZ0VJ$V/RQJ%\9DOZ3DUDP$V/RQJB
%\9DOO3DUDP$V/RQJ $V/RQJ
3DUDPHWHUV K'OJ
7KHKDQGOHRIWKHWDUJHWGLDORJER[
Q,''OJ,WHP
7KH,'RIWKHFRQWURORQWKHGLDORJER[VSHFLILHGE\WKHK'OJKDQGOH
Z0VJ
FRQWURO,'E\XVLQJ6S\
7KHPHVVDJHWRVHQGWRWKHWDUJHWZLQGRZ
Z3DUDP O3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH
7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
5HWXUQ9DOXH 7KHUHWXUQYDOXHGHSHQGVRQWKHPHVVDJHVHQW
SendMessage
6HQGVDPHVVDJHWRWKHVSHFLILHGWDUJHWZLQGRZ
3XEOLF'HFODUH)XQFWLRQ6HQG0HVVDJH/LEXVHU$OLDV6HQG0HVVDJH$B
%\9DOKZQG$V/RQJ%\9DOZ0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJO3DUDP$V$Q\ $V/RQJ
3DUDPHWHUV KZQG
Z0VJ
7KHKDQGOHRIWKHWDUJHWZLQGRZRU+:1'B%52$'&$67LIWKHPHVVDJHLVWREH
VHQWWRDOOWRSOHYHOZLQGRZVLQWKHV\VWHP 7KHPHVVDJHWRVHQGWRWKHWDUJHWZLQGRZ
Z3DUDP
O3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH 7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
5HWXUQ9DOXH 7KHUHWXUQYDOXHGHSHQGVRQWKHPHVVDJHVHQW
SendMessageCallback
6HQGVDPHVVDJHWRDZLQGRZDQGUHWXUQVLPPHGLDWHO\
3XEOLF'HFODUH)XQFWLRQ6HQG0HVVDJH&DOOEDFN/LEXVHUB $OLDV6HQG0HVVDJH&DOOEDFN$B
%\9DOKZQG$V/RQJ%\9DO0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJB
%\9DOOS5HVXOW&DOO%DFN$V/RQJ%\9DOGZ'DWD$V/RQJ $V/RQJ
3DUDPHWHUV KZQG
Z0VJ
7KHKDQGOHRIWKHWDUJHWZLQGRZRU+:1'B%52$'&$67LIWKHPHVVDJHLVWREH
VHQWWRDOOWRSOHYHOZLQGRZVLQWKHV\VWHP 7KHPHVVDJHWRVHQGWRWKHWDUJHWZLQGRZ
Z3DUDP O3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH
7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
OS5HVXOW&DOO%DFN GZ'DWD
7KHFDOOEDFNIXQFWLRQDGGUHVV 'DWDWREHSDVVHGLQWRWKHFDOOEDFNIXQFWLRQ
5HWXUQ9DOXH 7KHUHWXUQYDOXHLVDVXFFHVVRUIDLOXUHD]HURRUDQRQ]HURYDOXHUHVSHFWLYHO\ +RZHYHU WKLVIXQFWLRQXVHVDFDOOEDFNIXQFWLRQWRUHWULHYHWKHPHVVDJHGHSHQGHQWUHWXUQYDOXH
SendMessageTimeout
6HQGVWKHPHVVDJHWRWKHWDUJHWZLQGRZDQGWKHQZDLWVWKHQXPEHURIPLOOLVHFRQGVVSHFLILHG
LQWKHX7LPHRXWSDUDPHWHU
3XEOLF'HFODUH)XQFWLRQ6HQG0HVVDJH7LPHRXW/LEXVHUB $OLDV6HQG0HVVDJH7LPHRXW$B
%\9DOKZQG$V/RQJ%\9DO0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJB
%\9DOIX)ODJV$V/RQJ%\9DOX7LPHRXW$V/RQJB
OSGZ5HVXOW$V/RQJ $V/RQJ
3DUDPHWHUV KZQG
0VJ
7KHKDQGOHRIWKHWDUJHWZLQGRZRU+:1'B%52$'&$67LIWKHPHVVDJHLVWREH
VHQWWRDOOWRSOHYHOZLQGRZVLQWKHV\VWHP 7KHPHVVDJHWRVHQGWRWKHWDUJHWZLQGRZ
Z3DUDP O3DUDP IX)ODJV
7KHILUVWSDUDPHWHURIWKHPHVVDJH
7KHVHFRQGSDUDPHWHURIWKHPHVVDJH 'HWHUPLQHVKRZWKHPHVVDJHLVVHQW9DOLGYDOXHVDUHDVIROORZV SMTO_NORMAL (&H0 ) 'RHVQRWEORFNFDOOLQJWKUHDGXQWLOIXQFWLRQUHWXUQV SMTO_BLOCK (&H1 ) %ORFNVFDOOLQJWKUHDGXQWLOIXQFWLRQUHWXUQV SMTO_ABORTIFHUNG (&H2 )
5HWXUQVLIWKHDSSOLFDWLRQLVKXQJ SMTO_NOTIMEOUTIFNOTHUNG (&H10 )
:LQRQO\ 'RHVQRWUHWXUQIURPWKHIXQFWLRQLIWKHDSSOLFDWLRQLVQRWKXQJHYHQ
WKRXJKWKHWLPHRXWSHULRGPLJKWEHH[SLUHG
X7LPHRXW
7KHWLPHRXWYDOXHLQPLOOLVHFRQGVEHIRUHWKHIXQFWLRQWLPHVRXWDQGUHWXUQV
OSGZ5HVXOW
7KHUHVXOWRISURFHVVLQJWKHPHVVDJH
5HWXUQ9DOXH 5HWXUQVLIWKHIXQFWLRQVXFFHHGHGDQGQRQ]HURLILWWLPHGRXWRUIDLOHG
SendNotifyMessage
,IWKLVIXQFWLRQLVXVHGWRVHQGDPHVVDJHWRDZLQGRZLQWKHVDPHWKUHDGWKHFDOOLQJIXQFWLRQ
KDOWVSURFHVVLQJXQWLOWKH6HQG1RWLI\0HVVDJHIXQFWLRQUHWXUQVVLPLODUWRWKH6HQG0HVVDJH
IXQFWLRQ,IWKHPHVVDJHLVVHQWWRDZLQGRZLQDGLIIHUHQWWKUHDGWKHIXQFWLRQUHWXUQV
LPPHGLDWHO\
3XEOLF'HFODUH)XQFWLRQ6HQG1RWLI\0HVVDJH/LEXVHUB $OLDV6HQG1RWLI\0HVVDJH$B
%\9DOKZQG$V/RQJ%\9DO0VJ$V/RQJB
%\9DOZ3DUDP$V/RQJ%\9DOO3DUDP$V/RQJ $V/RQJ
3DUDPHWHUV KZQG
Z0VJ
7KHKDQGOHRIWKHWDUJHWZLQGRZRU+:1'B%52$'&$67LIWKHPHVVDJHLVWREH
VHQWWRDOOWRSOHYHOZLQGRZVLQWKHV\VWHP 7KHPHVVDJHWRVHQGWRWKHWDUJHWZLQGRZ
Z3DUDP O3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH
7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
5HWXUQ9DOXH 7KLVIXQFWLRQUHWXUQVRQO\DQHUURUVWDWXV]HURRQIDLOXUHQRQ]HURRQVXFFHVV DQGQRRWKHU
LQIRUPDWLRQ
SetCapture
6HWVWKHPRXVHFDSWXUHIRUDZLQGRZ
3ULYDWH'HFODUH)XQFWLRQ6HW&DSWXUH/LEXVHU$OLDV6HW&DSWXUHB
3DUDPHWHUV
%\9DOKZQG$V/RQJ $V/RQJ
KZQG
7KHZLQGRZKDQGOHRIWKHZLQGRZWKDWVKRXOGUHFHLYHDOOPRXVHLQSXW
5HWXUQ9DOXH 5HWXUQVWKHZLQGRZKDQGOHRIWKHZLQGRZWKDWSUHYLRXVO\KDGWKHPRXVHFDSWXUH,IQR
ZLQGRZKDGWKHPRXVHFDSWXUHUHWXUQVD18//
SetClassLongPtr
5HSODFHVWKHVSHFLILHGPHPEHURIWKH:1'&/$66(;VWUXFWXUHRIDZLQGRZ
3XEOLF'HFODUH)XQFWLRQ6HW&ODVV/RQJ3WU/LEXVHU$OLDV6HW&ODVV/RQJ$B
%\9DOKZQG$V/RQJ%\9DOQ,QGH[$V/RQJB
%\9DOGZ1HZ/RQJ$V/RQJ $V/RQJ
3DUDPHWHUV KZQG
Q,QGH[
7KHKDQGOHWRDZLQGRZWKDWZDVFUHDWHGXVLQJWKHFODVVZHZDQWWRPRGLI\
REWDLQLWE\UHWULHYLQJWKHYDOXHRIDIRUPRUFRQWURO VK:QGSURSHUW\
$/RQJLQGLFDWLQJWKHZLQGRZDWWULEXWHWREHPRGLILHG$QXPEHURIYDOXHVDUH
SRVVLEOHWKRXJKWKHYDOXHXVHGWRPRGLI\WKHZLQGRZSURFHGXUHLV
*&/3B:1'352&RU
GZ1HZ/RQJ
7KHUHSODFHPHQWYDOXH)RUDVXEFODVVHGZLQGRZWKLVSDUDPHWHUUHSUHVHQWVWKH
DGGUHVVRIWKHQHZZLQGRZSURFHGXUH
SURFHGXUHE\SDVVLQJLWVQDPHDVDQDUJXPHQWWRWKH$GGUHVV2IRSHUDWRU
5HWXUQ9DOXH 7KHUHWXUQYDOXHRIWKLVIXQFWLRQZLOOEHWKHRULJLQDOYDOXHLQWKHFODVVVWUXFWXUHWKDWZDV
UHSODFHGZLWKWKHYDOXHLQWKHGZ1HZ/RQJDUJXPHQW)RURXUSXUSRVHVWKLVIXQFWLRQZLOO
UHWXUQD]HURLIDQHUURURFFXUUHGRUWKHDGGUHVVRIWKHRULJLQDOFODVVZLQGRZSURFHGXUHLILW
ZDVVXFFHVVIXO
SetWindowLongPtr
0RGLILHVWKHSURSHUWLHVRIDZLQGRZ
'HFODUH)XQFWLRQ6HW:LQGRZ/RQJ3WU/LEXVHU$OLDV6HW:LQGRZ/RQJ$B
%\9DOKZQG$V/RQJB
%\9DOQ,QGH[$V/RQJB
%\9DOGZ1HZ/RQJ$V/RQJ $V/RQJ
3DUDPHWHUV KZQG
Q,QGH[
7KHKDQGOHRIWKHZLQGRZZKRVHDWWULEXWHLVWREHPRGLILHG
UHWULHYLQJWKHYDOXHRIDIRUPRUFRQWURO VK:QGSURSHUW\
$/RQJLQGLFDWLQJWKHZLQGRZDWWULEXWHWREHPRGLILHG$QXPEHURIYDOXHVDUH
SRVVLEOHWKRXJKWKHYDOXHXVHGWRUHSODFHDZLQGRZSURFHGXUHLV
*:/3B:1'352&RU
GZ1HZ/RQJ
7KHUHSODFHPHQWYDOXH)RUDVXEFODVVHGZLQGRZWKLVSDUDPHWHUUHSUHVHQWVWKH
DGGUHVVRIWKHQHZZLQGRZSURFHGXUH
SURFHGXUHE\SDVVLQJLWVQDPHDVDQDUJXPHQWWRWKH$GGUHVV2IRSHUDWRU
5HWXUQ9DOXH ,IVXFFHVVIXOWKHIXQFWLRQUHWXUQVWKHRULJLQDOYDOXHEHIRUHUHSODFHPHQWLQWKLVFDVHWKH
RULJLQDODGGUHVVRIWKHZLQGRZSURFHGXUH ,ILWIDLOVLWUHWXUQV
SetWindowPos
$OORZVDZLQGRZ VVL]HSRVLWLRQRUORFDWLRQLQWKHZLQGRZ=RUGHUWREHPRGLILHG
3XEOLF'HFODUH)XQFWLRQ6HW:LQGRZ3RV/LEXVHU$OLDV6HW:LQGRZ3RVB
%\9DOKZQG$V/RQJ%\9DOK:QG,QVHUW$IWHU$V/RQJB
%\9DOF\$V/RQJ%\9DOZ)ODJV$V/RQJ $V/RQJ
%\9DO[$V/RQJ%\9DO\$V/RQJ%\9DOF[$V/RQJB
3DUDPHWHUV KZQG
7KHKDQGOHRIWKHZLQGRZEHLQJPRGLILHG
K:QG,QVHUW$IWHU
7KHKDQGOHRIWKHZLQGRZWKDWFRPHVEHIRUHWKLVZLQGRZLQWKH=RUGHU7KLV DUJXPHQWDOVRFDQWDNHWKHIROORZLQJFRQVWDQWV HWND_BOTTOM (1) 3ODFHVWKHZLQGRZDWWKHERWWRPRIWKH=RUGHU HWND_NOTOPMOST (-2)
)RUWRSPRVWZLQGRZVSODFHVWKHZLQGRZDERYHDOOQRQWRSPRVWZLQGRZVWKDWLV
EHKLQGDOOWRSPRVWZLQGRZV )RUQRQWRSPRVWZLQGRZVWKHIODJKDVQRHIIHFW HWND_TOP (0) 3ODFHVWKHZLQGRZDWWKHWRSRIWKH=RUGHU HWND_TOPMOST (-1)
3ODFHVWKHZLQGRZDERYHDOOQRQWRSPRVWZLQGRZVDQGPDLQWDLQVWKHZLQGRZ V
WRSPRVWSRVLWLRQHYHQLILWORVHVWKHIRFXVDQRSWLRQW\SLFDOO\LQGLFDWHGRQPHQXVDV
[ \ F[ F\ Z)ODJV
DOZD\VRQWRS
(TXLYDOHQWWRWKH/HIWSURSHUW\LQ9LVXDO%DVLF (TXLYDOHQWWRWKH7RSSURSHUW\LQ9LVXDO%DVLF (TXLYDOHQWWRWKH:LGWKSURSHUW\LQ9LVXDO%DVLF (TXLYDOHQWWRWKH+HLJKWSURSHUW\LQ9LVXDO%DVLF )ODJVWKDWVSHFLI\WKHVL]LQJDQGSRVLWLRQLQJDWWULEXWHV,IPXOWLSOHIODJVDUHSUHVHQW
\RXFDQORJLFDOO\2UWKHPWRJHWKHU6RPHRIWKHSRVVLEOHIODJVDUH SWP_DRAWFRAME (32) 'UDZVDIUDPHDURXQGWKHZLQGRZ SWP_HIDEWINDOW (128) +LGHVWKHZLQGRZ SWP_NOACTIVATE (16)
'RHVQRWDFWLYDWHWKHZLQGRZ2WKHUZLVH6HW:LQGRZ3RVE\GHIDXOWDFWLYDWHVWKH
ZLQGRZ SWP_NOMOVE (2)
5HWDLQVWKHZLQGRZ VFXUUHQWSRVLWLRQLHLJQRUHVWKH[DQG\SDUDPHWHUV SWP_NOOWNERZORDER (512)
/HDYHVWKHRZQHUZLQGRZ VSRVLWLRQLQWKH=RUGHUXQFKDQJHG SWP_NOREPOSITION (512) 7KHVDPHDVWKH6:3B122:1(5=25'(5IODJ SWP_NOSIZE (1)
5HWDLQVWKHFXUUHQWZLQGRZVL]HLJQRUHVWKHF[DQGF\SDUDPHWHUV SWP_NOZORDER (4)
5HWDLQVWKHFXUUHQW=RUGHULJQRUHVWKHK:QG,QVHUW$IWHUSDUDPHWHU SWP_SHOWWINDOW (64) 'LVSOD\VWKHZLQGRZ
5HWXUQ9DOXH $UHWXUQYDOXHRIQRQ]HURLQGLFDWHVVXFFHVVDUHWXUQYDOXHRI]HURLQGLFDWHVIDLOXUH
SetWindowsHookEx
,QVWDOOVWKHVSHFLILHGZLQGRZ VKRRN
3XEOLF'HFODUH)XQFWLRQ6HW:LQGRZV+RRN([/LEXVHUB
$OLDV6HW:LQGRZV+RRN([$B
%\9DOLG+RRN$V/RQJ%\9DOOSIQ$V/RQJB
%\9DOKPRG$V/RQJ%\9DOGZ7KUHDG,G$V/RQJ $V/RQJ
3DUDPHWHUV LG+RRN OSIQ KPRG
7KLVLVWKHLGHQWLILHURIWKHW\SHRIKRRNWKDWLVEHLQJLQVWDOOHG )XQFWLRQSRLQWHUWKDWSRLQWVWRWKHKRRNFDOOEDFNIXQFWLRQ 7KHKDQGOHRIWKH'//FRQWDLQLQJWKHKRRNFDOOEDFNIXQFWLRQ,IWKLVLV18//WKHKRRN
FDOOEDFNIXQFWLRQLVQRWFRQWDLQHGZLWKLQD'//,QVWHDGLWLVFRQWDLQHGLQWKH
DSSOLFDWLRQ V(;( V FRGH
GZ7KUHDG,G
7KHDSSOLFDWLRQ VWKUHDGWKDWFRQWDLQVWKHKRRNFDOOEDFNIXQFWLRQ,IWKLVLV18//WKH
KRRNFDOOEDFNIXQFWLRQLVFRQWDLQHGZLWKLQD'//VHHKPRG
5HWXUQ9DOXH 5HWXUQVWKHKDQGOHWRWKHQHZO\FUHDWHGKRRN$UHWXUQYDOXHRI]HURLQGLFDWHVIDLOXUH
ShowWindow
'HWHUPLQHVKRZWKHZLQGRZLVGLVSOD\HG
3XEOLF'HFODUH)XQFWLRQ6KRZ:LQGRZ/LEXVHUB
3DUDPHWHUV
%\9DOKZQG$V/RQJ%\9DOQ&PG6KRZ$V/RQJ $V/RQJ
KZQG
:LQGRZKDQGOH
Q&PG6KRZ
6SHFLILHVKRZWKHZLQGRZLVGLVSOD\HG SW_FORCEMINIMIZE
'LVSOD\VDPLQLPL]HGZLQGRZHYHQLIWKHWKUHDGWKDWRZQVWKHZLQGRZLVKXQJ SW_HIDE +LGHVWKHZLQGRZDQGDFWLYDWHVDQRWKHUZLQGRZ SW_MAXIMIZE 'LVSOD\VDPD[LPL]HGZLQGRZ SW_MINIMIZE 'LVSOD\VDPLQLPL]HGZLQGRZ SW_RESTORE
'LVSOD\VDZLQGRZLQLWVUHVWRUHGVWDWH SW_SHOW $FWLYDWHVDZLQGRZ SW_SHOWMAXIMIZED
$FWLYDWHVDQGPD[LPL]HVWKHZLQGRZ SW_SHOWMINIMIZED $FWLYDWHVDQGPLQLPL]HVWKHZLQGRZ SW_SHOWMINNOACTIVE
'LVSOD\VDPLQLPL]HGZLQGRZEXWGRHVQRWDFWLYDWHLW SW_SHOWNA 'LVSOD\VDZLQGRZEXWGRHVQRWDFWLYDWHLW SW_SHOWNORMAL
$FWLYDWHVDQGGLVSOD\VDZLQGRZ,IWKHZLQGRZLVPLQLPL]HGRUPD[LPL]HGLWLVILUVW
UHVWRUHG SW_SHOWNOACTIVATE
6DPHDV6:B6+2:1250$/EXWWKHZLQGRZLVQRWDFWLYDWHG
5HWXUQ9DOXH 5HWXUQVLIWKHZLQGRZZDVSUHYLRXVO\KLGGHQ5HWXUQVQRQ]HURLIWKHZLQGRZZDVSUHYLRXVO\
YLVLEOH
UnhookWindowsHookEx
5HPRYHVWKHVSHFLILHGZLQGRZ VKRRN
3ULYDWH'HFODUH)XQFWLRQ8QKRRN:LQGRZV+RRN([/LEXVHUB %\9DOK+RRN$V/RQJ $V/RQJ
3DUDPHWHUV
K+RRN
7KHKDQGOHWRWKHKRRN7KH6HW:LQGRZ+RRN([IXQFWLRQUHWXUQVWKLVKRRNKDQGOH
5HWXUQ9DOXH $UHWXUQYDOXHRI]HURLQGLFDWHVIDLOXUHRWKHUZLVHWKHKRRNLVUHPRYHG
UnregisterClass
5HPRYHVWKHFODVVWKDWWKH5HJLVWHU&ODVV([$3,IXQFWLRQFUHDWHGIURPPHPRU\
3XEOLF'HFODUH)XQFWLRQ8QUHJLVWHU&ODVV/LEXVHU$OLDV8QUHJLVWHU&ODVV$B
%\9DOOS&ODVV1DPH$V6WULQJ%\9DOK,QVWDQFH$V/RQJ $V/RQJ
3DUDPHWHUV OS&ODVV1DPH
1DPHRIWKHFODVV
K,QVWDQFH
0RGXOHKDQGOHIRUWKHFODVV
5HWXUQ9DOXH $UHWXUQYDOXHRI]HURLQGLFDWHVIDLOXUHRWKHUZLVHWKHFODVVLVXQUHJLVWHUHGDQGLWVPHPRU\LV
IUHHG
$SSHQGL[&6WUXFWXUHVDQG&RQVWDQWV 7KLVDSSHQGL[ILUVWOLVWVWKHVWUXFWXUHVXVHGLQWKLVERRNDQGWKHQILQLVKHVE\OLVWLQJWKH
FRQVWDQWVXVHGLQWKLVERRN
CBT_CREATEWND
&RQWDLQVLQIRUPDWLRQXVHGE\WKH:+B&%7KRRNZKHQDZLQGRZLVFUHDWHG
3XEOLF7\SH&%7B&5($7(:1'
OSFV$V&5($7(6758&7
(QG7\SH
K:QG,QVHUW$IWHU$V/RQJ
6WUXFWXUH0HPEHUV OSFV
3RLQWHUWRD&5($7(6758&7VWUXFWXUHZKLFKLVGHILQHGDVIROORZV
3XEOLF7\SH&5($7(6758&7
OS&UHDWH3DUDPV$V/RQJ K,QVWDQFH$V/RQJ
K0HQX$V/RQJ
K:QG3DUHQW$V/RQJ
F\$V/RQJ
F[$V/RQJ \$V/RQJ
[$V/RQJ
VW\OH$V/RQJ
OSV]1DPH$V6WULQJ OSV]&ODVV$V6WULQJ
([6W\OH$V/RQJ (QG7\SH
K:QG,QVHUW$IWHU
K:QGRIWKHZLQGRZZKRVHSRVLWLRQLQWKH=RUGHULVWRSUHFHGHWKHZLQGRZEHLQJ
FUHDWHG
ZLQGRZWKDWLVEHLQJFUHDWHG
CBTACTIVATESTRUCT
&RQWDLQVLQIRUPDWLRQXVHGE\WKH:+B&%7KRRNZKHQDZLQGRZLVDFWLYDWHG
3XEOLF7\SH&%7$&7,9$7(6758&7
I0RXVH$V/RQJ
(QG7\SH
K:QG$FWLYH$V/RQJ
6WUXFWXUH0HPEHUV I0RXVH
7UXHLIWKHZLQGRZZDVDFWLYDWHGE\DPRXVHFOLFNRWKHUZLVH)DOVHLQGLFDWLQJWKDW
WKHZLQGRZZDVDFWLYDWHGE\VRPHRWKHUPHDQVVXFKDVDQ$/77$%NH\ FRPELQDWLRQ
K:QG$FWLYH
7KHK:QGRIWKHDFWLYHZLQGRZ
CHOOSECOLOR
8VHGWRGHILQHWKH&RORUFRPPRQGLDORJER[ZKHQLWLVFUHDWHG
3XEOLF7\SH&+226(&2/25
O6WUXFW6L]H$V/RQJ
KZQG2ZQHU$V/RQJ
K,QVWDQFH$V/RQJ
UJE5HVXOW$V/RQJ
OS&XVW&RORUV$V/RQJ IODJV$V/RQJ
O&XVW'DWD$V/RQJ
OSIQ+RRN$V/RQJ
OS7HPSODWH1DPH$VORQJ
(QG7\SH
6WUXFWXUH0HPEHUV O6WUXFW6L]H
6L]HRIWKLVVWUXFWXUH
KZQG2ZQHU
2ZQLQJZLQGRZ
K,QVWDQFH
7KHLQVWDQFHKDQGOHRIWKHREMHFWWKDWFRQWDLQVWKHGLDORJUHVRXUFH
WKLVHTXDOWRWKH$SSK,QVWDQFHSURSHUW\
UJE5HVXOW
8VHUVHOHFWHGFRORUUHWXUQHGWRWKHDSSOLFDWLRQ
OS&XVW&RORUV
3RLQWHUWRDUUD\RI&2/255()VWUXFWXUHV
flags
)ODJVGHVFULELQJWKLVFRPPRQGLDORJER[
DQG&&B(1$%/(+22.IODJVWRXVHDPRGLILHGWHPSODWHDQGDGLDORJKRRNIXQFWLRQ lCustData $SSOLFDWLRQGHILQHGGDWDSDVVHGLQWRWKHKRRN
OSIQ+RRN
$SRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQ
OS7HPSODWH1DPH
7KH,'RIWKHPRGLILHGGLDORJUHVRXUFH
CHOOSEFONT
8VHGWRGHILQHWKH)RQWFRPPRQGLDORJER[ZKHQLWLVFUHDWHG
3XEOLF7\SH&+226()217
O6WUXFW6L]H$V/RQJ
KZQG2ZQHU$V/RQJ
KGF$V/RQJ
OS/RJ)RQW$V/RQJ
L3RLQW6L]H$V/RQJ
IODJV$V/RQJ
UJE&RORUV$V/RQJ
O&XVW'DWD$V/RQJ
OSIQ+RRN$V/RQJ
OS7HPSODWH1DPH$V6WULQJ
K,QVWDQFH$V/RQJ
OSV]6W\OH$V6WULQJ
Q)RQW7\SH$V,QWHJHU
0,66,1*B$/,*10(17$V,QWHJHU
Q6L]H0LQ$V/RQJ
Q6L]H0D[$V/RQJ
(QG7\SH
6WUXFWXUH0HPEHUV O6WUXFW6L]H
6L]HRIWKLVVWUXFWXUH
KZQG2ZQHU KGF
&DOOLQJZLQGRZ VKDQGOH
3ULQWHU'&,&
OS/RJ)RQW
3RLQWHUWRWKH/2*)217VWUXFWXUH
L3RLQW6L]H IODJV
VL]HLQSRLQWVRIVHOHFWHGIRQW )ODJVGHVFULELQJWKLVFRPPRQGLDORJER[
DQG&)B(1$%/(+22.IODJVPXVWEHVHWWRXVHDPRGLILHGWHPSODWHDQGDGLDORJ
KRRNIXQFWLRQ
UJE&RORUV
5HWXUQHGWH[WFRORU
O&XVW'DWD
$SSOLFDWLRQGHILQHGGDWDSDVVHGLQWRWKHKRRN
OSIQ+RRN
$SRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQ
OS7HPSODWH1DPH
7KH,'RIWKHPRGLILHGGLDORJUHVRXUFH
K,QVWDQFH
7KHLQVWDQFHKDQGOHRIWKHREMHFWWKDWFRQWDLQVWKHGLDORJUHVRXUFH7KLVLVXVXDOO\VHW
HTXDOWRWKH$SSK,QVWDQFHSURSHUW\
OSV]6W\OH
6W\OHILHOGKHUHPXVWEH/)B)$&(6,=(RUODUJHU
Q)RQW7\SH
6DPHYDOXHUHSRUWHGWRWKH(QXP)RQWVFDOOEDFNZLWKWKHH[WUD)2177<3(ELWV DGGHG
Q6L]H0LQ
0LQLPXPSRLQWVL]HDOORZHG
Q6L]H0D[
0D[LPXPSRLQWVL]HDOORZHG
CWPRETSTRUCT
&RQWDLQVLQIRUPDWLRQWKDWWKH:+B&$//:1'352&5(7KRRNXVHV7KLVVWUXFWXUHLVVLPLODU
WRWKH&:36758&7VWUXFWXUHWKDWWKH:+B&$//:1'352&KRRNXVHVH[FHSWWKDWWKLV
VWUXFWXUHFRQWDLQVDQH[WUDPHPEHUO5HVXOW
3XEOLF7\SH&:35(76758&7
O5HVXOW$V/RQJ
O3DUDP$V/RQJ
Z3DUDP$V/RQJ
PHVVDJH$V/RQJ KZQG$V/RQJ
(QG7\SH
6WUXFWXUH0HPEHUV O5HVXOW O3DUDP
7KHUHWXUQYDOXHRIWKHZLQGRZSURFHGXUHDIWHUSURFHVVLQJWKHPHVVDJH 7KHVHFRQGSDUDPHWHURIWKHPHVVDJH
Z3DUDP
7KHILUVWSDUDPHWHURIWKHPHVVDJH
PHVVDJH KZQG
7KHPHVVDJHLGHQWLILHU
7KHZLQGRZKDQGOHWKDWWKHPHVVDJHLVGLUHFWHGWR
CWPSTRUCT
&RQWDLQVLQIRUPDWLRQXVHGE\WKH:+B&$//:1'352&KRRN
3XEOLF7\SH&:36758&7 O3DUDP$V/RQJ
Z3DUDP$V/RQJ
PHVVDJH$V/RQJ KZQG$V/RQJ
(QG7\SH
6WUXFWXUH0HPEHUV O3DUDP
7KHO3DUDPSDUDPHWHUIRUWKLVPHVVDJH
Z3DUDP
7KHZ3DUDPSDUDPHWHUIRUWKLVPHVVDJH
PHVVDJH KZQG
7KHPHVVDJHLGHQWLILHURIWKHLQWHUFHSWHGPHVVDJH
7KHZLQGRZKDQGOHWKDWWKLVPHVVDJHLVGLUHFWHGWR
DEBUGHOOKINFO
&RQWDLQVLQIRUPDWLRQXVHGZLWKWKH:+B'(%8*KRRN
3XEOLF7\SH'(%8*+22.,1)2 LG7KUHDG$V/RQJ
LG7KUHDG,QVWDOOHU$V/RQJ
O3DUDP$V/RQJ
Z3DUDP$V/RQJ FRGH$V/RQJ
(QG7\SH
6WUXFWXUH0HPEHUV LG7KUHDG
+DQGOHWRWKHWKUHDGFRQWDLQLQJWKHILOWHUIXQFWLRQRIWKHKRRNWKDWLVDERXWWREHFDOOHG
LG7KUHDG,QVWDOOHU O3DUDP
+DQGOHWRWKHWKUHDGWKDWLQVWDOOHGWKH:+B'(%8*KRRNILOWHUIXQFWLRQ
9DOXHRIWKHO3DUDPWKDWLVWREHVHQWWRWKHILOWHUIXQFWLRQRIWKHKRRNWKDWLVDERXWWR
EHFDOOHG
Z3DUDP
9DOXHRIWKHZ3DUDPWKDWLVWREHVHQWWRWKHILOWHUIXQFWLRQRIWKHKRRNWKDWLVDERXWWR
FRGH
EHFDOOHG
9DOXHRIWKHX&RGHWKDWLVWREHVHQWWRWKHILOWHUIXQFWLRQRIWKHKRRNWKDWLVDERXWWR
EHFDOOHG
EVENTMSG
&RQWDLQVLQIRUPDWLRQXVHGZLWKWKH:+B-2851$/5(&25'KRRN
3ULYDWH7\SH(9(1706*
PHVVDJH$V/RQJ SDUDP/$V/RQJ
SDUDP+$V/RQJ
WLPH$V/RQJ
KZQG$V/RQJ
(QG7\SH
6WUXFWXUH0HPEHUV PHVVDJH SDUDP/ SDUDP+ WLPH KZQG
7KHPHVVDJHLGHQWLILHU $PHVVDJHSDUDPHWHU7KHPHVVDJHW\SHGHILQHVWKHPHDQLQJIRUWKLVPHPEHU $PHVVDJHSDUDPHWHU7KHPHVVDJHW\SHGHILQHVWKHPHDQLQJIRUWKLVPHPEHU 7KHWLPHWKDWWKLVPHVVDJHZDVSRVWHG
7KHKDQGOHRIWKHZLQGRZWRZKLFKWKLVPHVVDJHLVWREHVHQW
FINDREPLACE
8VHGWRGHILQHWKH)LQGDQG5HSODFHFRPPRQGLDORJER[HVZKHQWKH\DUHFUHDWHG
3XEOLF7\SH),1'5(3/$&(
O6WUXFW6L]H$V/RQJ
KZQG2ZQHU$V/RQJ
K,QVWDQFH$V/RQJ
IODJV$V/RQJ
OSVWU)LQG:KDW$V6WULQJ
OSVWU5HSODFH:LWK$V6WULQJ
Z)LQG:KDW/HQ$V,QWHJHU
Z5HSODFH:LWK/HQ$V,QWHJHU
O&XVW'DWD$V/RQJ
OSIQ+RRN$V/RQJ
OS7HPSODWH1DPH$V/RQJ
(QG7\SH
6WUXFWXUH0HPEHUV O6WUXFW6L]H
6L]HRIWKLVVWUXFWXUH
KZQG2ZQHU
&DOOLQJZLQGRZ VKDQGOH
KLQVWDQFH
7KHLQVWDQFHKDQGOHRIWKHREMHFWWKDWFRQWDLQVWKHGLDORJUHVRXUFH7KLVLVXVXDOO\VHW
IODJV
HTXDOWRWKH$SSK,QVWDQFHSURSHUW\
)ODJVGHVFULELQJWKLVFRPPRQGLDORJER[
DQG)5B(1$%/(+22.IODJVWRXVHDPRGLILHGWHPSODWHDQGDGLDORJKRRNIXQFWLRQ
OSVWU)LQG:KDW
3RLQWHUWRVHDUFKVWULQJ
OSVWU5HSODFH:LWK
3RLQWHUWRUHSODFHVWULQJ
Z)LQG:KDW/HQ
6L]HRIILQGEXIIHU
Z5HSODFH:LWK/HQ
6L]HRIUHSODFHEXIIHU
O&XVW'DWD
&XVWRPGDWDSDVVHGWRWKLVKRRNIXQFWLRQ
OSIQ+RRN
7KHSRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQ
OS7HPSODWH1DPH
7KH,'RIWKHPRGLILHGGLDORJUHVRXUFH
KBDLLHOOKSTRUCT
&RQWDLQVLQIRUPDWLRQXVHGE\WKH:+B.(<%2$5'B//KRRN
3ULYDWH7\SH.%'//+22.6758&7
YN&RGHDV/RQJ
VFDQ&RGHDV/RQJ
WLPHDV/RQJ
(QG7\SH
IODJVDV/RQJ
GZ([WUD,QIRDV/RQJ
6WUXFWXUH0HPEHUV YN&RGH
7KHYLUWXDONH\FRGH
VFDQ&RGH IODJV
WLPH
7KHVFDQFRGH 7KLVPHPEHUFRQWDLQVIODJVIRUWKHNH\SUHVVHG7KHIODJVLQFOXGHH[WHQGHGNH\
LQMHFWHGPHVVDJHFRQWH[WFRGHDQGWUDQVLWLRQVWDWH 7KHWLPHWKLVPHVVDJHZDVSRVWHG
GZ([WUD,QIR
$SRLQWHUWRH[WUDGHYHORSHUGHILQHGLQIRUPDWLRQ
MOUSEHOOKSTRUCT
&RQWDLQVLQIRUPDWLRQXVHGE\WKH:+B0286(KRRN
3XEOLF7\SH0286(+22.6758&7
SW$V32,17$3, KZQG$V/RQJ
Z+LW7HVW&RGH$V/RQJ
GZ([WUD,QIR$V/RQJ (QG7\SH
6WUXFWXUH0HPEHUV SW KZQG
7KH[DQG\FRRUGLQDWHVRIWKHPRXVHSRLQWHU 7KHKDQGOHRIWKHZLQGRZWKDWWKHPRXVHSRLQWHUZDVRYHUZKHQWKHPRXVHPHVVDJH
ZDVILUHG
Z+LW7H[W&RGH
7KHKLWWHVWFRGHGHWDLOLQJWKHQRQFOLHQWDUHDRIWKHZLQGRZWKDWWKHPRXVHFXUVRULV
RYHU
GZ([WUD,QIR
([WUDLQIRUPDWLRQ
MOUSEHOOKSTRUCTEX
&RQWDLQVLQIRUPDWLRQXVHGE\WKH:+B0286(KRRN7KLVVWUXFWXUHFRQWDLQVH[WUDLQIRUPDWLRQ
WKDWWKH0286(+22.6758&7GRHVQRWFRQWDLQ
3XEOLF7\SH0286(+22.6758&7(;
VWUXFW0RXVH+RRN$V0286(+22.6758&7
PRXVHGDWD$V/RQJ (QG7\SH
6WUXFWXUH0HPEHUV VWUXFW0RXVH+RRN
$SRLQWHUWRWKH0286(+22.6758&7VWUXFWXUH
PRXVHGDWD
$/RQJLQWHJHUWKDWFRQWDLQVPRXVHZKHHODQG;%XWWRQLQIRUPDWLRQLQWKHKLJKRUGHU
ZRUG7KHORZRUGHUZRUGLVUHVHUYHGIRUV\VWHPXVH
MSG
&RQWDLQVDOOLQIRUPDWLRQWKDWGHILQHVD:LQGRZVPHVVDJH 3XEOLF7\SH06*
KZQG$V/RQJ
PHVVDJH$V/RQJ Z3DUDP$V/RQJ O3DUDP$V/RQJ
WLPH$V/RQJ
SW$V32,17$3, (QG7\SH
6WUXFWXUH0HPEHUV KZQG
7KHKDQGOHRIWKHZLQGRZWRZKLFKWKHPHVVDJHLVGLUHFWHG
PHVVDJH
7KHPHVVDJHWREHSDVVHGWRWKLVZLQGRZ$OOZLQGRZPHVVDJHVDUHFRQVWDQWVDQG
DUHGHILQHGLQWKH:LQ6RIWZDUH'HYHORSPHQW.LW6'. KHDGHUILOHV7KHKHDGHU
ILOHV:,186(5+DQG:,1$%/(+FRQWDLQPRVWRIWKHVHFRQVWDQWV
Z3DUDP and O3DUDP
0DQ\PHVVDJHVXVHWKHZ3DUDPDQGO3DUDPHOHPHQWVWRSDVVH[WUDLQIRUPDWLRQWR
WKHUHFHLYLQJZLQGRZSURFHGXUH7KLVH[WUDLQIRUPDWLRQGHSHQGVRQWKHPHVVDJH)RU
H[DPSOHLWFRXOGLQGLFDWHZKLFKPRXVHEXWWRQZDVSUHVVHGRULIWKH&WUONH\ZDV
SUHVVHGLQFRPELQDWLRQZLWKWKHFXUUHQWO\SUHVVHGNH\6RPHPHVVDJHVQHHGWRSDVV
PXFKPRUHLQIRUPDWLRQWKDQLVSRVVLEOHZLWKWKHZ3DUDPDQGO3DUDPDUJXPHQWV7R
JHWDURXQGWKLVOLPLWDWLRQVRPHPHVVDJHVKDYHVSHFLDOVWUXFWXUHVDVVRFLDWHGZLWK
WKHP3RLQWHUVWRWKHVHVWUXFWXUHVDUHSDVVHGLQHLWKHUWKHO3DUDPRUWKHZ3DUDP HOHPHQWV
(DFKPHVVDJHKDVLWVRZQLGHQWLW\WKDWLVWKHZD\RQHPHVVDJHILOOVLQWKH06*
VWUXFWXUHLVQRWWKHZD\HYHU\PHVVDJHZLOOILOOLWLQ0RVWPHVVDJHVKDYHWKHLURZQ
LQIRUPDWLRQWKDWPXVWEHSDVVHGRQWRWKHUHFHLYLQJZLQGRZ7KHUHIRUHEHFRPH
IDPLOLDUZLWKWKHPHVVDJHWKDW\RXDUHJRLQJWREHWUDSSLQJEHIRUH\RXZULWHWKHFRGH
WLPH
RU\RXPLJKWEHLQIRUDVXUSULVH
5HSUHVHQWVZKHQWKHPHVVDJHZDVSRVWHGWLPHLVHTXDOWRWKHQXPEHURIFORFNWLFNV
VLQFHWKHFRPSXWHUKDVEHHQUXQQLQJ6RWRILQGWKHDPRXQWRIWLPHWKDWKDVHODSVHG
EHWZHHQPHVVDJHVMXVWVXEWUDFWWKHSUHYLRXVPHVVDJH VWLPHPHPEHUIURPWKH
FXUUHQWPHVVDJH VWLPHPHPEHU7KHWLPHPHPEHUSOD\VDQLPSRUWDQWUROHZKHQ
SW
XVLQJMRXUQDOKRRNV
$SRLQWHUWRD32,17VWUXFWXUH7KHSWPHPEHUSRLQWVWRDVWUXFWXUHFRQWDLQLQJWKH
PRXVHFXUVRUFRRUGLQDWHVZKHQWKLVPHVVDJHZDVJHQHUDWHG
MSLLHOOKSTRUCT
&RQWDLQVLQIRUPDWLRQXVHGE\WKH:+B0286(B//KRRN
3XEOLF7\SH06//+22.6758&7
SW$V32,17$3,
PRXVHGDWD$V/RQJ IODJV$V/RQJ
WLPH$V/RQJ
GZ([WUD,QIR$V/RQJ (QG7\SH
6WUXFWXUH0HPEHUV SW
7KH[DQG\FRRUGLQDWHVRIWKHPRXVHSRLQWHU
PRXVHGDWD
,IWKHZ3DUDPSDUDPHWHUVSHFLILHVWKH:0B0286(:+((/PHVVDJHWKHKLJKRUGHU
ZRUGRIWKLVPHPEHUFRQWDLQVWKHPRXVHZKHHOGHOWDDSRVLWLYHYDOXHPHDQVWKDWWKH
PRXVHZKHHOZDVUROOHGIRUZDUGDQHJDWLYHYDOXHPHDQVWKDWLWZDVUROOHG
EDFNZDUG ,IWKHZ3DUDPSDUDPHWHUVSHFLILHVWKDWDQ;%XWWRQZDVFOLFNHGWKHKLJK
RUGHUZRUGRIWKLVPHPEHUGHWHUPLQHVZKHWKHUWKHILUVWRUVHFRQG;%XWWRQZDV
IODJV
SUHVVHG7KHORZRUGHUZRUGLVUHVHUYHGE\WKHV\VWHPLQERWKFDVHV
'HWHUPLQHVZKHWKHUWKHPHVVDJHZDVLQMHFWHG,I$1'LQJWKLVIODJZLWKUHVXOWVLQD
RU7UXHWKLVPHVVDJHZDVLQMHFWHGRWKHUZLVHWKHPHVVDJHZDVQRWLQMHFWHG
FDQLQMHFWDPRXVHPHVVDJHLQWRWKHPHVVDJLQJV\VWHPE\XVLQJWKH6HQG,QSXW
WLPH
IXQFWLRQGHILQHGLQ&KDSWHU
7KHWLPHWKDWWKLVPHVVDJHZDVSRVWHGWRWKHPHVVDJHTXHXH
GZ([WUD,QIR
([WUDLQIRUPDWLRQ
NMHDR
&RQWDLQVLQIRUPDWLRQXVHGE\QRWLILFDWLRQPHVVDJHV
3ULYDWH7\SH10+'5
KZQG)URP$V/RQJ LGIURP$V/RQJ
FRGH$V/RQJ (QG7\SH
6WUXFWXUH0HPEHUV KZQG)URP LG)URP FRGH
7KHKDQGOHWRWKHFRQWUROVHQGLQJWKLVQRWLILFDWLRQPHVVDJH 7KHLGHQWLILHURIWKHFRQWUROVHQGLQJWKLVQRWLILFDWLRQPHVVDJH $FRGHLGHQWLI\LQJWKHW\SHRIQRWLILFDWLRQ
OPENFILENAME
'HILQHVWKH2SHQDQG6DYH$VFRPPRQGLDORJER[HV 3ULYDWH7\SH23(1),/(1$0(
O6WUXFW6L]H$V/RQJ
KZQG2ZQHU$V/RQJ K,QVWDQFH$V/RQJ
OSVWU)LOWHU$V6WULQJ
OSVWU&XVWRP)LOWHU$V6WULQJ
Q0D[&XVW)LOWHU$V/RQJ
Q)LOWHU,QGH[$V/RQJ OSVWU)LOH$V6WULQJ
Q0D[)LOH$V/RQJ
OSVWU)LOH7LWOH$V6WULQJ
Q0D[)LOH7LWOH$V/RQJ
OSVWU,QLWLDO'LU$V6WULQJ OSVWU7LWOH$V6WULQJ IODJV$V/RQJ
Q)LOH2IIVHW$V,QWHJHU
Q)LOH([WHQVLRQ$V,QWHJHU
OSVWU'HI([W$V6WULQJ O&XVW'DWD$V/RQJ OSIQ+RRN$V/RQJ
OS7HPSODWH1DPH$V6WULQJ SY5HVHUYHG$V/RQJ
GZ5HVHUYHG$V/RQJ
)ODJV([$V/RQJ
(QG7\SH
6WUXFWXUH0HPEHUV O6WUXFW6L]H
6L]HRIWKLVVWUXFWXUH
KZQG2ZQHU
7KHKDQGOHRIWKHGLDORJ VRZQLQJZLQGRZ&DQEHLIQRZLQGRZRZQVWKLVGLDORJ
K,QVWDQFH
7KHKDQGOHWRWKHREMHFWWKDWFRQWDLQVWKHGLDORJWHPSODWHUHVRXUFH,IWKHGLDORJ
WHPSODWHUHVRXUFHUHVLGHVLQD'//XVHWKH/RDG/LEUDU\$3,IXQFWLRQ7KHIXQFWLRQ WDNHVRQHSDUDPHWHUWKHSDWKDQGILOHQDPHRIWKH'///RDG/LEUDU\UHWXUQVWKH
KDQGOHWRWKH'//
OSVWU)LOWHU
$VWULQJGHILQLQJWKHILOWHUVLIDQ\XVHGLQWKHGLDORJER[ V6DYH$V7\SHGURSGRZQ
OLVW7KHILOWHULVLQWKHIRUPDW^ILOWHUQDPH`_^ILOWHU`7KHILOWHUQDPHLVDQDPHIRUWKH
ILOWHUVXFKDV$OO)LOHV7KHILOWHULVDQH[SUHVVLRQXVHGWRGHVFULEHWKHILOWHUVXFKDV
7KHUHIRUHWKHFRGHWRGHVFULEHWKLVILOWHUZRXOGORRNOLNHWKHIROORZLQJ
23(1),/(1$0(OSVWU)LOWHU $OO)LOHV_ OSVWU&XVWRP)LOWHU
&RQWDLQVWKHODVWILOWHUFKRVHQE\WKHXVHU
Q0D[&XVW)LOWHU
&RQWDLQVWKHVL]HRIOSVWU&XVWRP)LOWHU
Q)LOWHU,QGH[ OSVWU)LOH
&RQWDLQVWKHLQGH[RIWKHFKRVHQILOWHU :KHQLQLWLDOL]LQJWKHGLDORJWKLVPHPEHUFRQWDLQVWKHGHIDXOWWH[WIRUWKH)LOH1DPH
HGLWFRQWURO:KHQWKHXVHUVHOHFWVDILOHDQGH[LWVWKHGLDORJER[WKLVPHPEHU
FRQWDLQVWKHFRPSOHWHSDWKIRUWKHVHOHFWHGILOH
Q0D[)LOH
&RQWDLQVWKHVL]HRIOSVWU)LOH
OSVWU)LOH7LWOH
7KHILOHQDPHDQGH[WHQVLRQRQO\RIWKHUHWXUQHGILOH
Q0D[)LOH7LWOH
&RQWDLQVWKHVL]HRIOSVWU)LOH7LWOH
OSVWU,QLWLDO'LU
&RQWDLQVWKHGHIDXOWSDWKIRUWKHGLDORJER[ZKHQLWLVLQLWLDOL]HG
OSVWU7LWOH IODJV
7KHWLWOHRIWKHGLDORJER[ 9DULRXVIODJVXVHGWRLQLWLDOL]HWKHGLDORJER[7KHVHDUHVRPHRIWKHPRUHFRPPRQO\
XVHGIODJV OFN_ALLOWMULTISELECT
$OORZVWKHXVHUWRVHOHFWPRUHWKDQRQHILOH OFN_EXPLORER
&UHDWHDQHZH[SORUHUVW\OHFRPPRQGLDORJER[ OFN_FILEMUSTEXIST
7RRSHQDILOHWKHILOHPXVWH[LVWRUDQHUURULVUDLVHG OFN_HIDEREADONLY 7KH5HDG2QO\FKHFNER[RQWKHGLDORJLVKLGGHQ OFN_NOVALIDATE
7KHILOHDQGSDWKDUHQRWYDOLGDWHGGXULQJSURFHVVLQJE\WKHGLDORJ OFN_PATHMUSTEXIST 7KHSDWKFKRVHQLQWKHGLDORJPXVWH[LVWRUDQHUURULVUDLVHG OFN_SHOWHELP 7KH+HOSEXWWRQLVGLVSOD\HG
OFN_ENABLEHOOK
8VHGIRUVXEFODVVLQJHQDEOHVWKHXVHRIDGLDORJKRRNSURFHGXUH OFN_ENABLETEMPLATE
8VHGIRUVXEFODVVLQJHQDEOHVWKHXVHRIDUHVRXUFHLQHLWKHUD5(6RU'//IRUPDW OFN_ENABLETEMPLATEHANDLE
8VHGIRUVXEFODVVLQJHQDEOHVWKHXVHRIDUHVRXUFHVWRUHGLQPHPRU\ OFN_ENABLEINCLUDENOTIFY
8VHGIRUVXEFODVVLQJHQDEOHVWKHGLDORJWRVHQGWKH&'1B,1&/8'(,7(0 QRWLILFDWLRQ
Q)LOH2IIVHW
&RQWDLQVWKHSRVLWLRQRIWKHILUVWFKDUDFWHURIWKHILOHQDPHLQOSVWU)LOH7KLVPHPEHULV
]HUREDVHG
Q)LOH([WHQVLRQ
&RQWDLQVWKHSRVLWLRQRIWKHILUVWFKDUDFWHURIWKHILOHQDPHH[WHQVLRQLQOSVWU)LOH7KLV
PHPEHULV]HUREDVHG
OSVWU'HI([W
7KHILOHH[WHQVLRQDSSHQGHGWRWKHILOHQDPHLIRQHLVQRWSURYLGHG
O&XVW'DWD
([WUDGDWDWKDWFDQEHVHQWWRWKHGLDORJKRRNSURFHGXUHYLDWKH:0B,1,7',$/2*
PHVVDJH:KHQWKLVPHVVDJHLVVHQWWRWKHKRRNSURFHGXUHLWFRQWDLQVDSRLQWHUWR
WKLVVWUXFWXUHLQWKHO3DUDPSDUDPHWHURIWKLVPHVVDJH
OSIQ+RRN
7KHSRLQWHUWRRXUGLDORJKRRNSURFHGXUH
OS7HPSODWH1DPH
7KHGLDORJWHPSODWHUHVRXUFH,'
SY5HVHUYHG
5HVHUYHGE\WKHV\VWHP
GZ5HVHUYHG )ODJV([
5HVHUYHGE\WKHV\VWHP
6HWWLQJWKLVIODJWR]HURDOORZVWKH3ODFHV%DUWREHGLVSOD\HGRQWKHFRPPRQGLDORJ
ER[VHWWLQJWKLVIODJWRDQ\RWKHUQXPEHUSUHYHQWVWKLVEDUIURPGLVSOD\LQJ7KH
3ODFHV%DULVORFDWHGRQWKHOHIWKDQGVLGHRIWKH2SHQDQG6DYH$VFRPPRQGLDORJ
ER[HVXQGHU:LQGRZV7KLVEDUFRQWDLQVVKRUWFXWVWRFRPPRQO\XVHGIROGHUV
VXFKDV'HVNWRS+LVWRU\0\'RFXPHQWV0\&RPSXWHUDQG0\1HWZRUN3ODFHV
PAGESETUPDLG
'HILQHVWKH3DJH6HWXSFRPPRQGLDORJER[
3XEOLF7\SH3$*(6(783'/* O6WUXFW6L]H$V/RQJ
KZQG2ZQHU$V/RQJ
K'HY0RGH$V/RQJ
K'HY1DPHV$V/RQJ
IODJV$V/RQJ
SW3DSHU6L]H$V32,17$3,
UW0LQ0DUJLQ$V5HFW
UW0DUJLQ$V5HFW
K,QVWDQFH$V/RQJ
O&XVW'DWD$V/RQJ
OSIQ3DJH6HWXS+RRN$V/RQJ
OSIQ3DJH3DLQW+RRN$V/RQJ
OS3DJH6HWXS7HPSODWH1DPH$V6WULQJ
K3DJH6HWXS7HPSODWH$V/RQJ
(QG7\SH
6WUXFWXUH0HPEHUV O6WUXFW6L]H
6L]HRIWKLVVWUXFWXUH
KZQG2ZQHU
+DQGOHRIWKHRZQLQJZLQGRZ
K'HY0RGH
3RLQWHUWRD'(902'(VWUXFWXUH
K'HY1DPHV IODJV
3RLQWHUWRD'(91$0(6VWUXFWXUH
)ODJVGHVFULELQJWKLVFRPPRQGLDORJER[
36'B(1$%/(3$*(6(7837(03/$7(IODJWRXVHDPRGLILHGWHPSODWH
VHWWKH36'B(1$%/(3$*(6(783+22.IODJWRXVHWKHSDJHVHWXSKRRNWKDWWKH
OSIQ3DJH6HWXS+RRNIXQFWLRQSRLQWHUSRLQWVWR
36'B(1$%/(3$*(3$,17+22.IODJWRXVHWKHSDJHVHWXSKRRNWKDWWKH
OSIQ3DJH3DLQW+RRNIXQFWLRQSRLQWHUSRLQWVWR
SW3DSHU6L]H
3RLQWHUWRD32,17$3,VWUXFWXUH
UW0LQ0DUJLQ
0LQLPXPVL]HVRIWKHPDUJLQV
UW0DUJLQ
$FWXDOVL]HVRIWKHPDUJLQV
K,QVWDQFH
7KHLQVWDQFHKDQGOHRIWKHREMHFWWKDWFRQWDLQVWKHGLDORJUHVRXUFH7KLVLVXVXDOO\VHW
HTXDOWRWKH$SSK,QVWDQFHSURSHUW\
O&XVW'DWD
$SSOLFDWLRQGHILQHGGDWDSDVVHGLQWRWKHKRRN
OSIQ3DJH6HWXS+RRN
$SRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQ
OSIQ3DJH3DLQW+RRN
$SRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQZKLFKVSHFLILFDOO\LQWHUFHSWV
WKHSDLQWLQJPHVVDJHVIRUWKHVDPSOHSDJHREMHFWRQWKLVGLDORJER[
OS3DJH6HWXS7HPSODWH1DPH
3DJHVHWXSWHPSODWHQDPH
K3DJH6HWXS7HPSODWH
+DQGOHWRWKHSDJHVHWXSWHPSODWH
POINTAPI
'HILQHVDSRLQWRQDQ[DQG\FRRUGLQDWHSODQH 3XEOLF7\SH32,17$3, [$V/RQJ \$V/RQJ (QG7\SH
6WUXFWXUH0HPEHUV [ \
[FRRUGLQDWHRIDSRLQW \FRRUGLQDWHRIDSRLQW
PRINTDLG
'HILQHVWKH3ULQWFRPPRQGLDORJER[
3XEOLF7\SH35,17'/*
O6WUXFW6L]H$V/RQJ
KZQG2ZQHU$V/RQJ
K'HY0RGH$V/RQJ
K'HY1DPHV$V/RQJ
KGF$V/RQJ
IODJV$V/RQJ
Q)URP3DJH$V,QWHJHU
Q7R3DJH$V,QWHJHU
Q0LQ3DJH$V,QWHJHU
Q0D[3DJH$V,QWHJHU
Q&RSLHV$V,QWHJHU
K,QVWDQFH$V/RQJ
O&XVW'DWD$V/RQJ
OSIQ3ULQW+RRN$V/RQJ
OSIQ6HWXS+RRN$V/RQJ
OS3ULQW7HPSODWH1DPH$V6WULQJ
OS6HWXS7HPSODWH1DPH$V6WULQJ
K3ULQW7HPSODWH$V/RQJ
K6HWXS7HPSODWH$V/RQJ
(QG7\SH
6WUXFWXUH0HPEHUV O6WUXFW6L]H
6L]HRIWKLVVWUXFWXUH
KZQG2ZQHU
+DQGOHRIWKHRZQLQJZLQGRZ
K'HY0RGH
3RLQWHUWRD'(902'(VWUXFWXUH
K'HY1DPHV KGF IODJV
3RLQWHUWRD'(91$0(6VWUXFWXUH
+DQGOHWRDGHYLFHFRQWH[W )ODJVGHVFULELQJWKLVFRPPRQGLDORJER[
3'B(1$%/(35,177(03/$7(IODJWRXVHDPRGLILHGWHPSODWHIRUWKH3ULQWGLDORJ
ER[
WHPSODWHIRUWKH3ULQW6HWXSGLDORJER[
Q)URP3DJH
6WDUWLQJSDJH
Q7R3DJH
(QGLQJSDJH
Q0LQ3DJH
0LQLPXPVWDUWLQJSDJHQXPEHU
Q0D[3DJH
0D[LPXPHQGLQJSDJHQXPEHU
Q&RSLHV
1XPEHURIFRSLHV
K,QVWDQFH
7KHLQVWDQFHKDQGOHRIWKHREMHFWWKDWFRQWDLQVWKHGLDORJUHVRXUFH7KLVLVXVXDOO\VHW
HTXDOWRWKH$SSK,QVWDQFHSURSHUW\
O&XVW'DWD
$SSOLFDWLRQGHILQHGGDWDSDVVHGLQWRWKHKRRN
OSIQ3ULQW+RRN
$SRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQ
OSIQ6HWXS+RRN
$SRLQWHUWRWKHGHYHORSHUGHILQHG3ULQW6HWXSGLDORJKRRNIXQFWLRQ
OS3ULQW7HPSODWH1DPH
7KH,'RIWKHPRGLILHG3ULQWGLDORJUHVRXUFH
OS6HWXS7HPSODWH
7KH,'RIWKHPRGLILHG3ULQW6HWXSGLDORJUHVRXUFH
K3ULQW7HPSODWH
3ULQWWHPSODWHQDPHLQPHPRU\REMHFW
K6HWXS7HPSODWH
6HWXSWHPSODWHQDPHLQPHPRU\REMHFW
PRINTDLGEX
'HILQHVD3ULQW3URSHUW\6KHHWFRPPRQGLDORJER[ 3XEOLF7\SH35,17'/*(;
O6WUXFW6L]H$V/RQJ
KZQG2ZQHU$V/RQJ
K'HY0RGH$V/RQJ
K'HY1DPHV$V/RQJ
KGF$V/RQJ
IODJV$V/RQJ
IODJV$V/RQJ
([FOXVLRQIODJV$V/RQJ
Q3DJH5DQJHV$V/RQJ
Q0D[3DJH5DQJHV$V/RQJ
OS3DJH5DQJHV$V/RQJ
Q0LQ3DJH$V/RQJ
Q0D[3DJH$V/RQJ
Q&RSLHV$V/RQJ
K,QVWDQFH$V/RQJ
OS3ULQW7HPSODWH1DPH$V/RQJ
OS&DOOEDFN$V/RQJ
OSK3URSHUW\3DJHV$V6WULQJ
Q3URSHUW\3DJHV$V/RQJ
QQ6WDUW3DJH$V/RQJ
GZ5HVXOW$FWLRQ$V/RQJ
(QG7\SH
6WUXFWXUH0HPEHUV O6WUXFW6L]H
6L]HRIWKLVVWUXFWXUH
KZQG2ZQHU
+DQGOHRIWKHRZQLQJZLQGRZ
K'HY0RGH
3RLQWHUWRD'(902'(VWUXFWXUH
K'HY1DPHV KGF IODJV
3RLQWHUWRD'(91$0(6VWUXFWXUH
+DQGOHWRDGHYLFHFRQWH[W )ODJVGHVFULELQJWKLVFRPPRQGLDORJER[
3'B(1$%/(35,177(03/$7(IODJWRXVHDPRGLILHGGLDORJWHPSODWHIRUWKH*HQHUDO
IODJV
WDE
0XVWEHVHWWR]HUR
([FOXVLRQIODJV
([FOXGHVFRQWUROVIURPWKH3ULQW'ULYHU3URSHUW\SDJH
Q3DJH5DQJHV
1XPEHURISDJHUDQJHV
Q0D[3DJH5DQJHV
6L]HRIOS3DJH5DQJHV
OS3DJH5DQJHV
3RLQWHUWRDUUD\RI35,173$*(5$1*(VWUXFWXUHV
Q0LQ3DJH
0LQLPXPVWDUWLQJSDJHQXPEHU
Q0D[3DJH
0D[LPXPHQGLQJSDJHQXPEHU
Q&RSLHV
1XPEHURIFRSLHV
K,QVWDQFH
7KHLQVWDQFHKDQGOHRIWKHREMHFWWKDWFRQWDLQVWKHGLDORJUHVRXUFH7KLVLVXVXDOO\VHW
HTXDOWRWKH$SSK,QVWDQFHSURSHUW\
OS3ULQW7HPSODWH1DPH
7KH,'RIWKHPRGLILHGGLDORJUHVRXUFHIRUWKH*HQHUDOWDE
OS&DOOEDFN
$SRLQWHUWRWKHGHYHORSHUGHILQHGGLDORJKRRNIXQFWLRQ
Q3URSHUW\3DJHV
1XPEHURISURSHUW\SDJHKDQGOHV
OSK3URSHUW\3DJHV$V
3RLQWHUWRDUUD\RISURSHUW\SDJHKDQGOHV
QQ6WDUW3DJH
3URSHUW\SDJHLQLWLDOO\GLVSOD\HG
GZ5HVXOW$FWLRQ
&RQWDLQVWKHUHVXOWVRIDFWLRQVSHUIRUPHGLQWKLVGLDORJ
RECT
'HILQHVWKHERXQGDULHVRIDUHFWDQJXODUVKDSH 3XEOLF7\SH5(&7
/HIW$V/RQJ
7RS$V/RQJ
5LJKW$V/RQJ
%RWWRP$V/RQJ (QG7\SH
6WUXFWXUH0HPEHUV /HIW 7RS 5LJKW
(TXDOWRWKH/HIWSURSHUW\RIDIRUP (TXDOWRWKH7RSSURSHUW\RIDIRUP (TXDOWRWKH:LGWKSURSHUW\RIDIRUP
%RWWRP
(TXDOWRWKH+HLJKWSURSHUW\RIDIRUP
WNDCLASSEX
'HILQHVDZLQGRZ VFODVV
3XEOLF7\SH:1'&/$66(;
FE6L]H$V/RQJ VW\OH$V/RQJ
OSIQ:QG3URF$V/RQJ FE&OV([WUD$V/RQJ
FE:QG([WUD$V/RQJ K,QVWDQFH$V/RQJ K,FRQ$V/RQJ
K&XUVRU$V/RQJ
KEU%DFNJURXQG$V/RQJ
OSV]0HQX1DPH$V6WULQJ
OSV]&ODVV1DPH$V6WULQJ
K,FRQ6P$V/RQJ (QG7\SH
6WUXFWXUH0HPEHUV FE6L]H VW\OH
7KHVL]HRIWKLVVWUXFWXUH
IXQGDPHQWDOORRNDQGRSHUDWLRQRIDZLQGRZFUHDWHGIURPWKLVFODVV)RUH[DPSOHWKH
&6B12&/26(FRQVWDQWGLVDEOHVWKH&ORVHRSWLRQRQWKHFODVV VZLQGRZPHQXZKLOH
WKH&6B+5('5$:FRQVWDQWIRUFHVDUHGUDZRIWKHZLQGRZZKHQHYHUWKHZLGWKRILWV
FOLHQWDUHDFKDQJHV
OSIQ:QG3URF
7KHIXQFWLRQSRLQWHUWRWKHZLQGRZSURFHGXUHIRUWKLVFODVV
FE&OV([WUD
$PRXQWRIH[WUDVSDFHWRDGGWRWKHHQGRIWKHFODVVVWUXFWXUH7KHGHYHORSHUXVHV WKLVWRVWRUHFODVVUHODWHGLQIRUPDWLRQ
FE:QG([WUD
$PRXQWRIH[WUDVSDFHWRDGGWRWKHHQGRIWKHZLQGRZVWUXFWXUH7KHGHYHORSHUXVHV
WKLVWRVWRUHZLQGRZUHODWHGLQIRUPDWLRQ
K,QVWDQFH K,FRQ K&XUVRU
7KHLQVWDQFHKDQGOHRIWKHPRGXOHWKDWFRQWDLQVWKHZLQGRZSURFHGXUHIRUWKLVFODVV +DQGOHWRDQLFRQUHVRXUFH +DQGOHWRDFXUVRUUHVRXUFH
KEU%DFN*URXQG
7KHKDQGOHWRDEUXVKRUDFRORUYDOXHXVHGWRSDLQWWKHEDFNJURXQGRIWKHZLQGRZ
FUHDWHGIURPWKLVFODVV
OSV]0HQX1DPH
7KHQXOOWHUPLQDWHGVWULQJWKDWGHILQHVWKHPHQXUHVRXUFH
OSV]&ODVV1DPH
7KHQXOOWHUPLQDWHGVWULQJRUFODVVDWRPGHILQLQJWKHQDPHRIWKHFODVV7KLVYDOXH PXVWEHXQLTXH
K,FRQ6P
+DQGOHWRWKHVPDOOLFRQUHVRXUFH
Message (.NET Structure)
'HILQHVD:LQGRZVPHVVDJH 3XEOLF6WUXFWXUH0HVVDJH
3XEOLF6KDUHG0HWKRGV &UHDWH
&UHDWHVDQHZ0HVVDJHVWUXFWXUH
3XEOLF,QVWDQFH)LHOGV KZQG PVJ O3DUDP
7KHKDQGOHWRZKLFKWKLVPHVVDJHLVVHQW 7KHLGHQWLILHUIRUWKLVPHVVDJH 'HILQLWLRQGHSHQGVRQPHVVDJH
Z3DUDP
UHVXOW
'HILQLWLRQGHSHQGVRQPHVVDJH 5HWXUQYDOXHIRUWKLVPHVVDJH
3XEOLF,QVWDQFH0HWKRGV (TXDOV
'HWHUPLQHVLIWKLV0HVVDJHVWUXFWXUHLVHTXDOWRDQRWKHUREMHFW
*HW+DVK&RGH
5HWXUQVDKDVKFRGHYDOXHIRUWKHLQVWDQFHRIWKLVVWUXFWXUH
*HW/3DUDP
&DVWVWKHO3DUDPILHOGWRDQ2EMHFWW\SH
*HW7\SH
5HWXUQVWKLVVWUXFWXUH VW\SH
7R6WULQJ
5HWXUQVWKHQDPHRIWKLVVWUXFWXUH
3URWHFWHG,QVWDQFH0HWKRGV )LQDOL]H
7KHGHVWUXFWRUIRUWKLVFODVV
0HPEHUZLVH&ORQH
5HWXUQVDVKDOORZFRS\RIWKLVVWUXFWXUH VLQVWDQFH
&&RQVWDQWV &%URDGFDVW6\VWHP0HVVDJH)XQFWLRQ0DVNV 3XEOLF&RQVW%60B$//&20321(176 +
3XEOLF&RQVW%60B9;'6 +
3XEOLF&RQVW%60B1(7'5,9(5 +
3XEOLF&RQVW%60B,167$//$%/('5,9(56 +
3XEOLF&RQVW%60B$33/,&$7,216 +
3XEOLF&RQVW%60B$//'(6.7236 +
&&RPPRQ'LDORJ%R[(UURU0HVVDJHV 3ULYDWH&RQVW&'(55B',$/2*)$,/85( +))))
3ULYDWH&RQVW&'(55B),1'5(6)$,/85( +
3ULYDWH&RQVW&'(55B*(1(5$/&2'(6 +
3ULYDWH&RQVW&'(55B,1,7,$/,=$7,21 +
3ULYDWH&RQVW&'(55B/2$'5(6)$,/85( +
3ULYDWH&RQVW&'(55B/2$'675)$,/85( +
3ULYDWH&RQVW&'(55B/2&.5(6)$,/85( +
3ULYDWH&RQVW&'(55B0(0$//2&)$,/85( +
3ULYDWH&RQVW&'(55B0(0/2&.)$,/85( +$
3ULYDWH&RQVW&'(55B12+,167$1&( +
3ULYDWH&RQVW&'(55B12+22. +%
3ULYDWH&RQVW&'(55B127(03/$7( +
3ULYDWH&RQVW&'(55B5(*,67(506*)$,/ +&
3ULYDWH&RQVW&'(55B6758&76,=( +
&&RPPRQ'LDORJ%R[1RWLILFDWLRQ0HVVDJHV 3XEOLF&RQVW&'1B,1,7'21(
3XEOLF&RQVW&'1B6(/&+$1*(
3XEOLF&RQVW&'1B)2/'(5&+$1*(
3XEOLF&RQVW&'1B6+$5(9,2/$7,21
3XEOLF&RQVW&'1B+(/3
3XEOLF&RQVW&'1B),/(2.
3XEOLF&RQVW&'1B7<3(&+$1*(
3XEOLF&RQVW&'1B,1&/8'(,7(0
&&ODVV6W\OHV 3XEOLF&RQVW&6B95('5$: +
3XEOLF&RQVW&6B+5('5$: +
3XEOLF&RQVW&6B.(<&97:,1'2: +
3XEOLF&RQVW&6B'%/&/.6 + 3XEOLF&RQVW&6B2:1'& +
3XEOLF&RQVW&6B&/$66'& +
3XEOLF&RQVW&6B3$5(17'& +
3XEOLF&RQVW&6B12.(<&97 +
3XEOLF&RQVW&6B12&/26( +
3XEOLF&RQVW&6B6$9(%,76 +
3XEOLF&RQVW&6B%<7($/,*1&/,(17 +
3XEOLF&RQVW&6B%<7($/,*1:,1'2: +
3XEOLF&RQVW&6B38%/,&&/$66 +
&(GLW&RQWURO1RWLILFDWLRQ&RGHV 3XEOLF&RQVW(1B6(7)2&86 +
3XEOLF&RQVW(1B.,//)2&86 +
3XEOLF&RQVW(1B&+$1*( +
3XEOLF&RQVW(1B83'$7( +
3XEOLF&RQVW(1B(5563$&( +
3XEOLF&RQVW(1B0$;7(;7 +
3XEOLF&RQVW(1B+6&52// +
3XEOLF&RQVW(1B96&52// +
3XEOLF&RQVW(1B$/,*1B/75B(& +
3XEOLF&RQVW(1B$/,*1B57/B(& +
&([WHQGHG:LQGRZ6W\OHV 3XEOLF&RQVW:6B(;B'/*02'$/)5$0( +
3XEOLF&RQVW:6B(;B123$5(17127,)< +
3XEOLF&RQVW:6B(;B7230267 +
3XEOLF&RQVW:6B(;B$&&(37),/(6 +
3XEOLF&RQVW:6B(;B75$163$5(17 +
&*HW&ODVV/RQJ3WU)XQFWLRQ&RQVWDQWV 3XEOLF&RQVW*&/3B0(181$0(
3XEOLF&RQVW*&/3B+%5%$&.*5281' 3XEOLF&RQVW*&/3B+&85625 3XEOLF&RQVW*&/3B+,&2160
3XEOLF&RQVW*&/3B+02'8/(
3XEOLF&RQVW*&/3B:1'352&
&*HW:LQGRZ$3,)XQFWLRQ&RQVWDQWV 3XEOLF&RQVW*:B+:1'),567
3XEOLF&RQVW*:B+:1'/$67
3XEOLF&RQVW*:B+:1'1(;7
3XEOLF&RQVW*:B+:1'35(9
3XEOLF&RQVW*:B2:1(5
3XEOLF&RQVW*:B&+,/'
&*HW:LQGRZ/RQJ3WU)XQFWLRQ&RQVWDQWV
3XEOLF&RQVW*:/3B+,167$1&( 3XEOLF&RQVW*:/3B:1'352&
3XEOLF&RQVW*:/3B86(5'$7$
3XEOLF&RQVW*:/3B+:1'3$5(17
&+RRN&RGHV &*HQHUDO 3XEOLF&RQVW+&B$&7,21
3XEOLF&RQVW+&B*(71(;7
3XEOLF&RQVW+&B6.,3
3XEOLF&RQVW+&B125(029(
3XEOLF&RQVW+&B125(0 +&B125(029(
3XEOLF&RQVW+&B6<602'$/21
3XEOLF&RQVW+&B6<602'$/2))
&&RPSXWHUEDVHGWUDLQLQJ&%7 KRRNFRGHV 3XEOLF&RQVW+&%7B029(6,=(
3XEOLF&RQVW+&%7B0,10$;
3XEOLF&RQVW+&%7B46
3XEOLF&RQVW+&%7B&5($7(:1'
3XEOLF&RQVW+&%7B'(6752<:1'
3XEOLF&RQVW+&%7B$&7,9$7(
3XEOLF&RQVW+&%7B&/,&.6.,33('
3XEOLF&RQVW+&%7B.(<6.,33('
3XEOLF&RQVW+&%7B6<6&200$1'
3XEOLF&RQVW+&%7B6(7)2&86
&:+B06*),/7(5KRRNFRGHV 3XEOLF&RQVW06*)B',$/2*%2;
3XEOLF&RQVW06*)B0(66$*(%2; 3XEOLF&RQVW06*)B0(18
3XEOLF&RQVW06*)B029(
3XEOLF&RQVW06*)B6,=(
3XEOLF&RQVW06*)B6&52//%$5
3XEOLF&RQVW06*)B1(;7:,1'2:
3XEOLF&RQVW06*)B0$,1/223
3XEOLF&RQVW06*)B0$;
3XEOLF&RQVW06*)B86(5 &:+B6+(//KRRNFRGHV 3XEOLF&RQVW+6+(//B:,1'2:&5($7('
3XEOLF&RQVW+6+(//B:,1'2:'(6752<('
3XEOLF&RQVW+6+(//B$&7,9$7(6+(//:,1'2:
3XEOLF&RQVW+6+(//B:,1'2:$&7,9$7('
3XEOLF&RQVW+6+(//B*(70,15(&7
3XEOLF&RQVW+6+(//B5('5$:
3XEOLF&RQVW+6+(//B7$6.0$1
3XEOLF&RQVW+6+(//B/$1*8$*(
3XEOLF&RQVW+6+(//B$&&(66,%,/,7<67$7(
3XEOLF&RQVW+6+(//B$33&200$1'
&+6+(//B$&&(66,%,/,7<67$7(&RQVWDQWV 3XEOLF&RQVW$&&(66B67,&.<.(<6 +
3XEOLF&RQVW$&&(66B),/7(5.(<6 +
3XEOLF&RQVW$&&(66B0286(.(<6 +
&.H\6WDWH0DVNVIRU0RXVH0HVVDJHV 3XEOLF&RQVW0.B/%87721 +
3XEOLF&RQVW0.B5%87721 +
3XEOLF&RQVW0.B6+,)7 +
3XEOLF&RQVW0.B&21752/ +
3XEOLF&RQVW0.B0%87721 +
3XEOLF&RQVW0.B;%87721 + 3XEOLF&RQVW0.B;%87721 +
&/RZ/HYHO+RRN&RQVWDQWV 3XEOLF&RQVW.)B(;7(1'(' +
3XEOLF&RQVW.)B$/7'2:1 + 3XEOLF&RQVW.)B83 +
3XEOLF&RQVW//.+)B(;7(1'(' .)B(;7(1'('!!
3XEOLF&RQVW//.+)B,1-(&7(' +
3XEOLF&RQVW//.+)B$/7'2:1 .)B$/7'2:1!!
3XEOLF&RQVW//.+)B83 .)B83!!
3XEOLF&RQVW//0+)B,1-(&7(' +
&0RXVH:KHHO&RQVWDQW 3XEOLF&RQVW:+((/B'(/7$
&2SHQDQG6DYH$V&RPPRQ'LDORJ%R[1RWLILFDWLRQ&RGHV 3XEOLF&RQVW2)1B$//2:08/7,6(/(&7 +
3XEOLF&RQVW2)1B&5($7(352037 +
3XEOLF&RQVW2)1B(1$%/(+22. +
3XEOLF&RQVW2)1B(1$%/(7(03/$7( +
3XEOLF&RQVW2)1B(1$%/(7(03/$7(+$1'/( +
3XEOLF&RQVW2)1B(;3/25(5 +
3XEOLF&RQVW2)1B(;7(16,21',))(5(17 +
3XEOLF&RQVW2)1B),/(0867(;,67 +
3XEOLF&RQVW2)1B+,'(5($'21/< +
3XEOLF&RQVW2)1B/21*1$0(6 +
3XEOLF&RQVW2)1B12&+$1*(',5 +
3XEOLF&RQVW2)1B12'(5()(5(1&(/,1.6 +
3XEOLF&RQVW2)1B12/21*1$0(6 +
3XEOLF&RQVW2)1B121(7:25.%87721 +
3XEOLF&RQVW2)1B125($'21/<5(7851 +
3XEOLF&RQVW2)1B127(67),/(&5($7( +
3XEOLF&RQVW2)1B129$/,'$7( +
3XEOLF&RQVW2)1B29(5:5,7(352037 +
3XEOLF&RQVW2)1B3$7+0867(;,67 + 3XEOLF&RQVW2)1B5($'21/< +
3XEOLF&RQVW2)1B6+$5($:$5( +
3XEOLF&RQVW2)1B6+$5()$//7+528*+
3XEOLF&RQVW2)1B6+$5(12:$51
3XEOLF&RQVW2)1B6+$5(:$51
3XEOLF&RQVW2)1B6+2:+(/3 +
3XEOLF&RQVW2)1B(1$%/(,1&/8'(127,)< +
&3HHN0HVVDJH)XQFWLRQ2SWLRQV 3XEOLF&RQVW30B125(029( +
3XEOLF&RQVW30B5(029( +
3XEOLF&RQVW30B12<,(/' +
&3RVW0HVVDJHDQG6HQG0HVVDJH)XQFWLRQ&RQVWDQWV 3XEOLF&RQVW+:1'B%52$'&$67 +))))
3XEOLF&RQVW+:1'B'(6.723
&3UHGHILQHG&RQWURO,'9DOXHVIRUWKH2SHQDQG6DYH$V&RPPRQ 'LDORJ%R[HV
3XEOLF&RQVWFK[ +
3XEOLF&RQVWFPE +
3XEOLF&RQVWFPE +
3XEOLF&RQVWFPE +&
3XEOLF&RQVWHGW +
3XEOLF&RQVWOVW +
3XEOLF&RQVWVWF +
3XEOLF&RQVWVWF +
3XEOLF&RQVWVWF +
3XEOLF&RQVWVWF +
3XEOLF&RQVW,'2.
3XEOLF&RQVW,'&$1&(/
3XEOLF&RQVW,'$%257
3XEOLF&RQVW,'5(75<
3XEOLF&RQVW,'<(6
3XEOLF&RQVW,'12
3XEOLF&RQVW,'&/26(
3XEOLF&RQVW,'+(/3
3XEOLF&RQVWSVK+HOS SVK
&6HQG0HVVDJH7LPHRXW$3,)XQFWLRQ&RQVWDQWV 3XEOLF&RQVW6072B1250$/ +
3XEOLF&RQVW6072B%/2&. +
3XEOLF&RQVW6072B$%257,)+81* +
3XEOLF&RQVW6072B127,0(287,)127+81* +
&6HW:LQGRZ/RQJ3WU*HW:LQGRZ/RQJ3WU)XQFWLRQ&RQVWDQWV
3XEOLF&RQVW':/3B06*5(68/7
3XEOLF&RQVW':/3B'/*352&
3XEOLF&RQVW':/3B86(5
&6HW:LQGRZ3RV)XQFWLRQ&RQVWDQWV 3XEOLF&RQVW6:3B126,=( +
3XEOLF&RQVW6:3B12029( +
3XEOLF&RQVW6:3B12=25'(5 +
3XEOLF&RQVW6:3B125('5$: +
3XEOLF&RQVW6:3B12$&7,9$7( +
3XEOLF&RQVW6:3B)5$0(&+$1*(' +
3XEOLF&RQVW6:3B6+2::,1'2: +
3XEOLF&RQVW6:3B+,'(:,1'2: +
3XEOLF&RQVW6:3B12&23<%,76 +
3XEOLF&RQVW6:3B122:1(5=25'(5 +
3XEOLF&RQVW6:3B'5$:)5$0( 6:3B)5$0(&+$1*('
3XEOLF&RQVW6:3B125(326,7,21 6:3B122:1(5=25'(5
3XEOLF&RQVW+:1'B723
3XEOLF&RQVW+:1'B%27720
3XEOLF&RQVW+:1'B7230267
3XEOLF&RQVW+:1'B127230267 3XEOLF&RQVW'/*:,1'2:(;75$
&6KRZ:LQGRZ)XQFWLRQ&RQVWDQWV 3XEOLF&RQVW6:B0$;,0,=(
3XEOLF&RQVW6:B0,1,0,=(
3XEOLF&RQVW6:B6+2:0$;,0,=('
3XEOLF&RQVW6:B6+2:0,1,0,=('
3XEOLF&RQVW6:B6+2:0,112$&7,9(
&8VHU%XWWRQ1RWLILFDWLRQ&RGHV 3XEOLF&RQVW%1B&/,&.(' 3XEOLF&RQVW%1B3$,17
3XEOLF&RQVW%1B+,/,7(
3XEOLF&RQVW%1B81+,/,7( 3XEOLF&RQVW%1B',6$%/(
3XEOLF&RQVW%1B'28%/(&/,&.('
3XEOLF&RQVW%1B386+(' %1B+,/,7(
3XEOLF&RQVW%1B81386+(' %1B81+,/,7(
3XEOLF&RQVW%1B'%/&/. %1B'28%/(&/,&.('
3XEOLF&RQVW%1B6(7)2&86
3XEOLF&RQVW%1B.,//)2&86
&9LUWXDO.H\&RGHV 3XEOLF&RQVW9.B/%87721 +
3XEOLF&RQVW9.B5%87721 + 3XEOLF&RQVW9.B&$1&(/ +
3XEOLF&RQVW9.B0%87721 +
3XEOLF&RQVW9.B;%87721 +
3XEOLF&RQVW9.B;%87721 +
3XEOLF&RQVW9.B%$&. + 3XEOLF&RQVW9.B7$% +
3XEOLF&RQVW9.B&/($5 +&
3XEOLF&RQVW9.B5(7851 +'
3XEOLF&RQVW9.B6+,)7 +
3XEOLF&RQVW9.B&21752/ +
3XEOLF&RQVW9.B0(18 +
3XEOLF&RQVW9.B3$86( +
3XEOLF&RQVW9.B&$3,7$/ +
3XEOLF&RQVW9.B(6&$3( +%
3XEOLF&RQVW9.B63$&( + 3XEOLF&RQVW9.B35,25 + 3XEOLF&RQVW9.B1(;7 + 3XEOLF&RQVW9.B(1' +
3XEOLF&RQVW9.B+20( + 3XEOLF&RQVW9.B/()7 + 3XEOLF&RQVW9.B83 +
3XEOLF&RQVW9.B5,*+7 +
3XEOLF&RQVW9.B'2:1 +
3XEOLF&RQVW9.B6(/(&7 + 3XEOLF&RQVW9.B35,17 +$
3XEOLF&RQVW9.B(;(&87( +%
3XEOLF&RQVW9.B61$36+27 +&
3XEOLF&RQVW9.B,16(57 +'
3XEOLF&RQVW9.B'(/(7( +(
3XEOLF&RQVW9.B+(/3 +)
3XEOLF&RQVW9.B1803$' +
3XEOLF&RQVW9.B1803$' +
3XEOLF&RQVW9.B1803$' +
3XEOLF&RQVW9.B1803$' +
3XEOLF&RQVW9.B1803$' +
3XEOLF&RQVW9.B1803$' +
3XEOLF&RQVW9.B1803$' +
3XEOLF&RQVW9.B1803$' +
3XEOLF&RQVW9.B1803$' +
3XEOLF&RQVW9.B1803$' +
3XEOLF&RQVW9.B08/7,3/< +$
3XEOLF&RQVW9.B$'' +%
3XEOLF&RQVW9.B6(3$5$725 +&
3XEOLF&RQVW9.B68%75$&7 +'
3XEOLF&RQVW9.B'(&,0$/ +(
3XEOLF&RQVW9.B',9,'( +)
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +$
3XEOLF&RQVW9.B) +%
3XEOLF&RQVW9.B) +&
3XEOLF&RQVW9.B) +'
3XEOLF&RQVW9.B) +(
3XEOLF&RQVW9.B) +)
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B) +
3XEOLF&RQVW9.B180/2&. +
3XEOLF&RQVW9.B6&52// +
3XEOLF&RQVW9.B/6+,)7 +$
3XEOLF&RQVW9.B56+,)7 +$
3XEOLF&RQVW9.B/&21752/ +$
3XEOLF&RQVW9.B5&21752/ +$
3XEOLF&RQVW9.B/0(18 +$
3XEOLF&RQVW9.B50(18 +$
3XEOLF&RQVW9.B$771 +)
3XEOLF&RQVW9.B&56(/ +)
3XEOLF&RQVW9.B(;6(/ +)
3XEOLF&RQVW9.B(5(2) +) 3XEOLF&RQVW9.B3/$< +)$
3XEOLF&RQVW9.B=220 +)%
3XEOLF&RQVW9.B121$0( +)&
3XEOLF&RQVW9.B3$ +)'
3XEOLF&RQVW9.B2(0B&/($5 +)(
9.B$WKUX9.B=DUHWKHVDPHDVWKHLU$6&,,HTXLYDOHQWV $ WKUX =
9.BWKUX9.BDUHWKHVDPHDVWKHLU$6&,,HTXLYDOHQWV WKUX
&:LQGRZ+RRN&RQVWDQWV 3XEOLF&RQVW:+B0,1
3XEOLF&RQVW:+B06*),/7(5
3XEOLF&RQVW:+B-2851$/5(&25'
3XEOLF&RQVW:+B-2851$/3/$<%$&.
3XEOLF&RQVW:+B.(<%2$5'
3XEOLF&RQVW:+B*(70(66$*(
3XEOLF&RQVW:+B&$//:1'352&
3XEOLF&RQVW:+B&%7
3XEOLF&RQVW:+B6<606*),/7(5
3XEOLF&RQVW:+B0286(
3XEOLF&RQVW:+B+$5':$5( 3XEOLF&RQVW:+B'(%8*
3XEOLF&RQVW:+B6+(//
3XEOLF&RQVW:+B)25(*5281','/(
3XEOLF&RQVW:+B0$;
&:LQGRZ6W\OHV 3XEOLF&RQVW:6B29(5/$33(' +
3XEOLF&RQVW:6B32383 + 3XEOLF&RQVW:6B&+,/' +
3XEOLF&RQVW:6B0,1,0,=( + 3XEOLF&RQVW:6B9,6,%/( +
3XEOLF&RQVW:6B',6$%/(' +
3XEOLF&RQVW:6B&/,36,%/,1*6 +
3XEOLF&RQVW:6B&/,3&+,/'5(1 +
3XEOLF&RQVW:6B0$;,0,=( +
3XEOLF&RQVW:6B&$37,21 +&
3XEOLF&RQVW:6B%25'(5 +
3XEOLF&RQVW:6B'/*)5$0( +
3XEOLF&RQVW:6B96&52// +
3XEOLF&RQVW:6B+6&52// +
3XEOLF&RQVW:6B6<60(18 +
3XEOLF&RQVW:6B7+,&.)5$0( + 3XEOLF&RQVW:6B*5283 +
3XEOLF&RQVW:6B7$%6723 +
3XEOLF&RQVW:6B0,1,0,=(%2; +
3XEOLF&RQVW:6B0$;,0,=(%2; +
3XEOLF&RQVW:6B7,/(' :6B29(5/$33('
3XEOLF&RQVW:6B,&21,& :6B0,1,0,=(
3XEOLF&RQVW:6B6,=(%2; :6B7+,&.)5$0(
3XEOLF&RQVW:6B7,/(':,1'2: :6B29(5/$33(':,1'2:
3XEOLF&RQVW:6B32383:,1'2: :6B323832U:6B%25'(52U:6B6<60(18 3XEOLF&RQVW:6B&+,/':,1'2: :6B&+,/'
3XEOLF&RQVW:6B29(5/$33(':,1'2: :6B29(5/$33('2U:6B&$37,212U :6B6<60(182U
:6B7+,&.)5$0(2U:6B0,1,0,=(%2;
2U:6B0$;,0,=(%2;
&:0B.(<83:0B'2:1DQG:0B&+$5O3DUDP+,:25')ODJV 3XEOLF&RQVW.)B(;7(1'(' +
3XEOLF&RQVW.)B'/*02'( +
3XEOLF&RQVW.)B0(1802'( +
3XEOLF&RQVW.)B$/7'2:1 +
3XEOLF&RQVW.)B5(3($7 + 3XEOLF&RQVW.)B83 +
&:0B1&+,77(67&RGHV 3XEOLF&RQVW+7(5525
3XEOLF&RQVW+775$163$5(17 3XEOLF&RQVW+712:+(5(
3XEOLF&RQVW+7&/,(17
3XEOLF&RQVW+7&$37,21
3XEOLF&RQVW+76<60(18
3XEOLF&RQVW+7*52:%2;
3XEOLF&RQVW+76,=( +7*52:%2;
3XEOLF&RQVW+70(18
3XEOLF&RQVW+7+6&52//
3XEOLF&RQVW+796&52//
3XEOLF&RQVW+70,1%87721
3XEOLF&RQVW+70$;%87721
3XEOLF&RQVW+7/()7
3XEOLF&RQVW+75,*+7 3XEOLF&RQVW+7723
3XEOLF&RQVW+7723/()7
3XEOLF&RQVW+77235,*+7
3XEOLF&RQVW+7%27720
3XEOLF&RQVW+7%27720/()7
3XEOLF&RQVW+7%277205,*+7
3XEOLF&RQVW+7%25'(5
3XEOLF&RQVW+75('8&( +70,1%87721
3XEOLF&RQVW+7=220 +70$;%87721
3XEOLF&RQVW+76,=(),567 +7/()7
3XEOLF&RQVW+76,=(/$67 +7%277205,*+7
&:+B6+(//&RGHVIRUWKH+6+(//B$33&200$1'+RRN&RGH 3XEOLF&RQVW$33&200$1'B%$66B%2267
3XEOLF&RQVW$33&200$1'B%$66B'2:1
3XEOLF&RQVW$33&200$1'B%$66B83
3XEOLF&RQVW$33&200$1'B%52:6(5B%$&.:$5'
3XEOLF&RQVW$33&200$1'B%52:6(5B)$925,7(6
3XEOLF&RQVW$33&200$1'B%52:6(5B)25:$5'
3XEOLF&RQVW$33&200$1'B%52:6(5B+20(
3XEOLF&RQVW$33&200$1'B%52:6(5B5()5(6+
3XEOLF&RQVW$33&200$1'B%52:6(5B6($5&+
3XEOLF&RQVW$33&200$1'B%52:6(5B6723
3XEOLF&RQVW$33&200$1'B/$81&+B$33
3XEOLF&RQVW$33&200$1'B/$81&+B$33
3XEOLF&RQVW$33&200$1'B/$81&+B0$,/
3XEOLF&RQVW$33&200$1'B0(',$B1(;775$&.
3XEOLF&RQVW$33&200$1'B0(',$B3/$
3XEOLF&RQVW$33&200$1'B0(',$B35(9,28675$&.
3XEOLF&RQVW$33&200$1'B0(',$B6723
3XEOLF&RQVW$33&200$1'B75(%/(B'2:1
3XEOLF&RQVW$33&200$1'B75(%/(B83
3XEOLF&RQVW$33&200$1'B92/80(B'2:1
3XEOLF&RQVW$33&200$1'B92/80(B087(
3XEOLF&RQVW$33&200$1'B92/80(B83
3XEOLF&RQVW)$33&200$1'B.(< +
3XEOLF&RQVW)$33&200$1'B0286( +
3XEOLF&RQVW)$33&200$1'B2(0 +
&:0B6,=(0HVVDJHZ3DUDP9DOXHV 3XEOLF&RQVW6,=(B5(6725('
3XEOLF&RQVW6,=(B0,1,0,=('
3XEOLF&RQVW6,=(B0$;,0,=('
3XEOLF&RQVW6,=(B0$;6+2: 3XEOLF&RQVW6,=(B0$;+,'(
&:0B6<6&200$1'0HVVDJHZ3DUDP&RQVWDQWV 3XEOLF&RQVW6&B0,1,0,=( +)
3XEOLF&RQVW6&B&/26( +)
3XEOLF&RQVW6&B+27.(< +)
3XEOLF&RQVW6&B+6&52// +)
3XEOLF&RQVW6&B.(<0(18 +)
3XEOLF&RQVW6&B021,72532:(5 +
3XEOLF&RQVW6&B0$;,0,=( +)
3XEOLF&RQVW6&B0,1,0,=( +)
3XEOLF&RQVW6&B0286(0(18 +)
3XEOLF&RQVW6&B029( +)
3XEOLF&RQVW6&B1(;7:,1'2: +)
3XEOLF&RQVW6&B35(9:,1'2: +)
3XEOLF&RQVW6&B5(6725( +)
3XEOLF&RQVW6&B6&5((16$9( +)
3XEOLF&RQVW6&B6,=( +)
3XEOLF&RQVW6&B7$6./,67 +)
3XEOLF&RQVW6&B96&52// +)
3XEOLF&RQVW6&B,&21 6&B0,1,0,=(
3XEOLF&RQVW6&B=220 6&B0$;,0,=(
&;%XWWRQ&RQVWDQWV 3XEOLF&RQVW;%87721[
3XEOLF&RQVW;%87721[
&RORSKRQ 2XUORRNLVWKHUHVXOWRIUHDGHUFRPPHQWVRXURZQH[SHULPHQWDWLRQDQGIHHGEDFNIURP
GLVWULEXWLRQFKDQQHOV'LVWLQFWLYHFRYHUVFRPSOHPHQWRXUGLVWLQFWLYHDSSURDFKWRWHFKQLFDO
WRSLFVEUHDWKLQJSHUVRQDOLW\DQGOLIHLQWRSRWHQWLDOO\GU\VXEMHFWV
7KHDQLPDOVRQWKHFRYHURI6XEFODVVLQJDQG+RRNLQJZLWK9LVXDO%DVLFDUHFRPPRQ
EUXVKWDLOSRVVXPV7ULFKRVXUXVYXOSHFXOD 7KHVHVPDOO$XVWUDOLDQPDUVXSLDOVDUHDERXWRQH
VL[WKWKHVL]HRIDKRXVHFDW7KH\KDYHELJHDUVORQJZKLVNHUVDQGDSRLQW\VQRXWWLSSHGZLWK
DSLQNQRVHWKHLUIXUFRORUUDQJHVIURPOLJKWJUD\WRGDUNEURZQ$EUXVKWDLOSRVVXP
SUHJQDQF\ODVWVRQO\DERXWGD\VEXWDIWHUELUWKWKHVLQJOHLQIDQWVSHQGVXSWRPRQWKVLQ
KLVPRWKHU VSRXFKDQGWKHQLVGHSHQGHQWRQPRPIRUDQRWKHUWRPRQWKVORQJHU
2UGLQDULO\EUXVKWDLOSRVVXPVDUHWUHHGZHOOHUVWKHLUORQJSUHKHQVLOHWDLOVDQGRSSRVDEOH
GLJLWVDUHLGHDOIRUJUDVSLQJWUHHEUDQFKHV7KH\GLQHRQOHDYHVIUXLWVDQGIORZHUVDQGZHUH
RQFHFRPPRQDOORYHU$XVWUDOLD%XWQRZWKH\ UHODUJHO\DEVHQWIURPWKHLQWHULRURIWKH
FRXQWU\DQGWKH\FDQWRRRIWHQEHIRXQGOLYLQJLQWKHHDYHVDQGDWWLFVRIVXEXUEDQKRXVHV
UDLGLQJWUDVKFDQVIRUWKHLUGLQQHUV,QWURGXFHGWR1HZ=HDODQGLQWKH\ UHDPDMRUSHVW
VSHFLHVLQWKDWFRXQWU\DVZHOODQGSRSXODWLRQFRQWUROHIIRUWVLQFOXGHDWWHPSWVWRSRSXODUL]H
SRVVXPIXUJDUPHQWV
/HDQQH6R\OHPH]DQG0DWW+XWFKLQVRQZHUHWKHSURGXFWLRQHGLWRUVIRU6XEFODVVLQJDQG
+RRNLQJZLWK9LVXDO%DVLF/HDQQH6R\OHPH]ZDVWKHSURRIUHDGHU$XGUH\'R\OHZDVWKH
FRS\HGLWRU/LQOH\'ROE\SURYLGHGTXDOLW\FRQWURO-RKQQD9DQ+RRVH'LQVHDQG%UHQGD0LOOHU
ZURWHWKHLQGH[(OOLH9ROFNKDXVHQGHVLJQHGWKHFRYHURIWKLVERRNEDVHGRQDVHULHVGHVLJQ
E\(GLH)UHHGPDQ7KHFRYHULPDJHLVIURP7KH,OOXVWUDWHG1DWXUDO+LVWRU\0DPPDOLD
(PPD&ROE\SURGXFHGWKHFRYHUOD\RXWZLWK4XDUN
;3UHVVXVLQJ$GREH V,7&
*DUDPRQGIRQW'DYLG)XWDWRGHVLJQHGWKHLQWHULRUOD\RXWEDVHGRQDVHULHVGHVLJQE\1DQF\
3ULHVW$QQH0DULH9DGXYDFRQYHUWHGWKHILOHVIURP0LFURVRIW:RUGWR)UDPH0DNHU
XVLQJWRROVFUHDWHGE\0LNH6LHUUD7KHWH[WDQGKHDGLQJIRQWVDUH,7&*DUDPRQG/LJKWDQG
*DUDPRQG%RRNWKHFRGHIRQWLV&RQVWDQW:LOOLVRQ7KHLOOXVWUDWLRQVWKDWDSSHDULQWKHERRN
ZHUHSURGXFHGE\5REHUW5RPDQRDQG-HVVDP\Q5HDGXVLQJ0DFURPHGLD)UHH+DQGDQG
$GREH3KRWRVKRS7KLVFRORSKRQZDVZULWWHQE\/HDQQH6R\OHPH]