WINIA Electronics 7NF0012 DVD/VCR Combo Device User Manual manuRTD300
Dongbu Daewoo Electronics Corporation DVD/VCR Combo Device manuRTD300
User Manual
6-head hi-fi stereo
+LJK4XDOLW\
O
H
◆,QWKHLQLWLDOVHWWLQJVH[FOXVLYHFKDQQHOIRU'9'9LGHRLVVHWWR&+6HW
WKH79FKDQQHOWR&+EHIRUHXVLQJLW
◆5HJLRQFRGHRI'9'9LGHRSOD\HUIRUKRPHLVRU$//,QLQVHUWLQJDGLVF
ZLWKRWKHUUHJLRQFRGHLWGRHVQRWRSHUDWH3OHDVHRQO\XVHDGLVFZLWK
UHJLRQFRGHRU$//
◆LV D ¶3URKLELWLRQ· PDUN ,I WKLV PDUN LV GLVSOD\HG LQ RSHUDWLQJ WKH
SURGXFW SOHDVH ZDLW IRU D ZKLOH WKHQ XVH LW ,I 3URKLELWLRQ PDUN
FRQWLQXHVWREHGLVSOD\HGLQSUHVVLQJDEXWWRQDIWHUWKDWLWPHDQVWKH
EXWWRQGRHVQRWIXQFWLRQLQWKHFXUUHQWO\SOD\HGGLVF
◆3UHVVDSURGXFWEXWWRQRQWKHUHPRWHFRQWUROWKHQXVHWKHSURGXFW
'9'RSHUDWLRQ>'9'@EXWWRQ
9LGHRRSHUDWLRQ>9&5@EXWWRQ
2ZQHU·V0DQXDO
0RGHORTD300
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` A
P/N : 97P95600N0-78
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` B
3URGXFW ,QIRUPDWLRQ
,PSRUWDQW6DIHJXDUGV
&$87,21 72 5('8&( 7+( 5,6. 2) (/(&75,&
6+2&. '2 127 5(029( &29(5 25 %$&. 12
86(56(59,&($%/( 3$576 ,16,'( 5()(5
6(59,&,1*7248$/,),('6(59,&(3(56211(/
&$87,21
5,6.2)(/(&75,&6+2&.
'212723(1
7KH OLJKWQLQJ IODVK ZLWK DUURZKHDG V\PERO
ZLWKLQDQHTXLODWHUDOWULDQJOHLVLQWHQGHGWR
DOHUWWKHXVHUWRWKHSUHVHQFHRIXQLQVXODWHG
´GDQJHURXVYROWDJHµZLWKLQ WKHSURGXFW·V
HQFORVXUH WKDW PD\ EH RI VXIILFLHQW
PDJQLWXGHWRFRQVWLWXWH D ULVN RI HOHFWULF
VKRFN
7KH H[FODPDWLRQ SRLQW ZLWKLQ DQ HTXLODWHUDO
WULDQJOH LV LQWHQGHG WR DOHUW WKH XVHU WR WKH
SUHVHQFH RI LPSRUWDQW RSHUDWLQJ DQG
VHUYLFLQJ LQVWUXFWLRQV LQ WKH OLWHUDWXUH
DFFRPSDQ\LQJWKHDSSOLDQFH
:$51,1* 725('8&(7+(5,6.2)),5(25(/(&75,&6+2&.'2127(;326(7+,6$33/,$1&(725$,1
2502,6785(
&$87,21 7235(9(17(/(&75,&6+2&.0$7&+:,'(%/$'(2)3/8*72:,'(6/27)8//<,16(57
,03257$17)25/$6(5352'8&76
/$6(5 7KLV'LJLWDO9LGHR'LVF3OD\HUHPSOR\VD/DVHU6\VWHP7RHQVXUHSURSHUXVHRIWKLVSURGXFWSOHDVHUHDG
WKLVRZQHU·VPDQXDOFDUHIXOO\DQGUHWDLQIRUIXWXUHUHIHUHQFH6KRXOGWKHXQLWUHTXLUHPDLQWHQDQFH
FRQWDFWDQDXWKRUL]HGVHUYLFHORFDWLRQVHHVHUYLFHSURFHGXUH
8VHRIFRQWURODGMXVWPHQWVRUWKHSHUIRUPDQFHRISURFHGXUHVRWKHUWKDQWKRVHVSHFLILHGPD\UHVXOWLQ
KD]DUGRXVUDGLDWLRQH[SRVXUH
7RSUHYHQWGLUHFWH[SRVXUHWRWKHODVHUEHDPGRQRWWU\WRRSHQWKHHQFORVXUH9LVLEOHODVHUUDGLDWLRQ
ZKHQRSHQDQGLQWHUORFNVGHIHDWHG
'212767$5(,1727+(%($0
'$1*(5 9LVLEOHODVHUUDGLDWLRQZKHQRSHQDQGLQWHUORFNIDLOHGRUGHIHDWHG
$YRLGGLUHFWH[SRVXUHWREHDP
&$87,21 'RQRWRSHQWKHWRSFRYHU7KHUHDUHQRXVHUVHUYLFHDEOHSDUWV
LQVLGHWKH8QLWOHDYHDOOVHUYLFLQJWRTXDOLILHGVHUYLFHSHUVRQQHO
&/$66
/$6(5352'8&7
)&&127,&( 7KLVHTXLSPHQWKDVEHHQWHVWHGDQGIRXQGWRFRPSO\ZLWKWKHOLPLWVIRUD&ODVV%GLJLWDOGHYLFH
SXUVXDQWWRSDUWRIWKH)&&5XOH7KHVHOLPLWVDUHGHVLJQHGWRSURYLGHUHDVRQDEOHSURWHFWLRQ
DJDLQVWKDUPIXOLQWHUIHUHQFHLQDUHVLGHQWLDOLQVWDOODWLRQ7KLVHTXLSPHQWJHQHUDWHVXVHVDQGFDQ
UDGLDWHUDGLRIUHTXHQF\HQHUJ\DQGLIQRWLQVWDOOHGDQGXVHGLQDFFRUGDQFHZLWKWKHLQVWUXFWLRQV
PD\ FDXVH KDUPIXO LQWHUIHUHQFH WR UDGLR FRPPXQLFDWLRQV +RZHYHU WKHUH LV QR JXDUDQWHH WKDW
LQWHUIHUHQFH ZLOO QRW RFFXU LQ D SDUWLFXODU LQVWDOODWLRQ ,I WKLV HTXLSPHQW GRHV FDXVH KDUPIXO
LQWHUIHUHQFHWRUDGLRRUWHOHYLVLRQUHFHSWLRQZKLFKFDQEHGHWHUPLQHGE\WXUQLQJWKHHTXLSPHQW
RII DQG RQ WKH XVHU LV HQFRXUDJHG WR WU\ WR FRUUHFW WKH LQWHUIHUHQFH E\ RQH RU PRUH RI WKH
IROORZLQJPHDVXUHV
5HRULHQWRUUHORFDWHWKHUHFHLYLQJDQWHQQD
,QFUHDVHWKHVHSDUDWLRQEHWZHHQWKHHTXLSPHQWDQGUHFHLYHU
&RQQHFW WKH HTXLSPHQW WR DQ RXWOHW RQ D FLUFXLW GLIIHUHQW IURP WKDW WR ZKLFK WKH UHFHLYHU LV
FRQQHFWHG
&RQVXOWWKHGHDOHURUDQH[SHULHQFHUDGLR79WHFKQLFDOIRUKHOS
7KLV GHYLFH FRPSOLHV ZLWK SDUW RI WKH )&& 5XOHV 2SHUDWLRQ LV VXEMHFW WR WKH IROORZLQJ WZR
FRQGLWLRQV7KLVGHYLFHPD\QRWFDXVHKDUPIXOLQWHUIHUHQFHDQG7KLVGHYLFHPXVWDFFHSW
DQ\LQWHUIHUHQFHUHFHLYHGLQFOXGLQJLQWHUIHUHQFHWKDWPD\FDXVHXQGHVLUHGRSHUDWLRQ
&$87,21$Q\FKDQJHVRUPRGLILFDWLRQLQFRQVWUXFWLRQRIWKLVGHYLFHZKLFKDUHQRWH[SUHVVO\DSSURYHGE\
WKHSDUW\UHVSRQVLEOHIRUFRPSOLDQFHFRXOGYRLGWKHXVHU·VDXWKRULW\WRRSHUDWHWKHHTXLSPHQW
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 1
7KLVVHW KDVEHHQGHVLJQHGDQG PDQXIDFWXUHGWR
DVVXUHSHUVRQDO VDIHW\ ,PSURSHU XVH FDQ UHVXOW LQ
HOHFWULF VKRFN RU ILUH KD]DUG 7KH VDIHJXDUGV
LQFRUSRUDWHGLQWKLVXQLWZLOOSURWHFW\RX LI\RX
REVHUYHWKHIROORZLQJSURFHGXUHVIRULQVWDOODWLRQXVH
DQGVHUYLFLQJ7KLVXQLWLVIXOO\WUDQVLVWRUL]HGDQGGRHV
QRW FRQWDLQ DQ\ SDUWV WKDW FDQ EH UHSDLUHG E\ WKH
XVHU
5HDG,QVWUXFWLRQV
$OOWKHVDIHW\DQGRSHUDWLQJLQVWUXFWLRQVVKRXOGEH
UHDGEHIRUHWKHXQLWLVRSHUDWHG
5HWDLQ,QVWUXFWLRQV
7KH VDIHW\ DQG RSHUDWLQJ LQVWUXFWLRQV VKRXOG EH
UHWDLQHGIRUIXWXUHUHIHUHQFH
+HHG:DUQLQJV
$OO ZDUQLQJV RQ WKH XQLW DQG LQ WKH RSHUDWLQJ
LQVWUXFWLRQVVKRXOGEHDGKHUHGWR
)ROORZ,QVWUXFWLRQV
$OO RSHUDWLQJ DQG XVH LQVWUXFWLRQV VKRXOG EH
IROORZHG
&OHDQLQJ
8QSOXJ WKLV XQLW IURP WKH ZDOO RXWOHW EHIRUH
FOHDQLQJ 'R QRW XVH OLTXLG FOHDQHUV RU DHURVRO
FOHDQHUV8VHDGDPSFORWKIRUFOHDQLQJ
$WWDFKPHQWV
'R QRW XVH DWWDFKPHQWV XQOHVV UHFRPPHQGHG E\
WKH XQLW·V PDQXIDFWXUHU DV WKH\ PD\ FDXVH
KD]DUGV
:DWHUDQG0RLVWXUH
'RQRWXVHWKLVXQLWQHDUZDWHUIRUH[DPSOHQHDU
D EDWK WXE ZDVK ERZO NLWFKHQ VLQN RU ODXQGU\
WXELQDZHWEDVHPHQWRUQHDUDVZLPPLQJSRRO
DQGWKHOLNH&DXWLRQ0DLQWDLQHOHFWULFDOVDIHW\
3RZHUOLQHRSHUDWHG HTXLSPHQWRUDFFHVVRULHV
FRQQHFWHG WR WKLV XQLW VKRXOG EHDU WKH 8/ OLVWLQJ
PDUN RU &6$ FHUWLILFDWLRQ PDUN RQ WKH DFFHVVRU\
LWVHOIDQGVKRXOGQRWEHPRGLILHGVR DV WR GHIHDW
WKHVDIHW\ IHDWXUHV7KLVZLOO KHOSDYRLGDQ\
SRWHQWLDOKD]DUGIURPHOHFWULFDOVKRFNRUILUH,ILQ
GRXEWFRQWDFWTXDOLILHGVHUYLFHSHUVRQQHO
$FFHVVRULHV
'RQRWSODFHWKLVXQLWRQDQXQVWDEOHFDUWVWDQG
WULSRGEUDFNHWRUWDEOH7KHXQLWPD\IDOOFDXVLQJ
VHULRXVLQMXU\WRDFKLOGRUDGXOWDVZHOODVVHULRXV
GDPDJHWRWKHXQLW8VHWKLVXQLWRQO\ZLWKDFDUW
VWDQGWULSRGEUDFNHWRUWDEOHUHFRPPHQGHGE\
WKHPDQXIDFWXUHU
$ $XQLWDQGFDUWFRPELQDWLRQVKRXOGEHPRYHGZLWK
FDUH 4XLFN VWRSV
H[FHVVLYH IRUFH DQG
XQHYHQVXUIDFHV PD\
FDXVHWKHXQLWDQGFDUW
FRPELQDWLRQ WR
RYHUWXUQ
9HQWLODWLRQ
6ORWV DQG RSHQLQJV LQ WKH FDVH DUH SURYLGHG IRU
YHQWLODWLRQWRHQVXUHUHOLDEOHRSHUDWLRQRIWKHXQLW
DQGWRSURWHFWLWIURPRYHUKHDWLQJ7KHVHRSHQLQJV
PXVW QRW EH EORFNHG RU FRYHUHG 7KHVH RSHQLQJV
PXVWQRWEHEORFNHGE\SODFLQJWKHXQLWRQDEHG
VRIDUXJRURWKHUVLPLODUVXUIDFH7KLVXQLWVKRXOG
QHYHU EH SODFHG QHDU RU RYHU D UDGLDWRU RU KHDW
UDGLDWRU7KLVXQLWVKRXOGQRWEHSODFHGLQDEXLOW
LQ LQVWDOODWLRQ VXFK DV D ERRNFDVH RU UDFN XQOHVV
SURSHU YHQWLODWLRQ LV SURYLGHG RU WKH
PDQXIDFWXUHU·VLQVWUXFWLRQVKDYHEHHQDGKHUHGWR
3RZHU6RXUFHV
7KLVXQLWVKRXOGEHRSHUDWHGRQO\IURPWKHW\SHRI
SRZHUVRXUFHLQGLFDWHGRQWKHPDUNLQJODEHO,I\RX
DUHQRWVXUHRIWKHW\SHRISRZHUVXSSO\WR\RXU
KRPHFRQVXOW\RXUGHDOHURUORFDOSRZHUFRPSDQ\
)RUXQLWVLQWHQGHGWRRSHUDWHIURPEDWWHU\SRZHU
RU RWKHU VRXUFHV UHIHU WR WKH RSHUDWLQJ
LQVWUXFWLRQV
JURXQGLQJRU3RODUL]DWLRQ
7KLVXQLWLVHTXLSSHGZLWKDSRODUL]HGDOWHUQDWLQJ
FXUUHQWOLQH SOXJDSOXJ KDYLQJRQHEODGH ZLGHU
WKDQWKH RWKHU 7KLV SOXJ ZLOO ILW LQWR WKH SRZHU
RXWOHWRQO\RQHZD\7KLVLVDVDIHW\IHDWXUH,I\RX
DUHXQDEOHWRLQVHUWWKHSOXJIXOO\LQWRWKHRXWOHW
WU\UHYHUVLQJWKHSOXJ,IWKHSOXJVWLOOIDLOVWRILW
FRQWDFW \RXU HOHFWULFLDQ WR UHSODFH \RXU REVROHWH
RXWOHW7R SUHYHQW HOHFWULF VKRFN GR QRW XVH WKLV
SRODUL]HGSOXJZLWKDQH[WHQVLRQFRUGUHFHSWDFOH
RU RWKHU RXWOHW XQOHVV WKH EODGHV FDQ EH IXOO\
LQVHUWHG ZLWKRXW EODGH H[SRVXUH ,I \RX QHHG DQ
H[WHQVLRQFRUGXVHDSRODUL]HGFRUG
3RZHU&RUG3URWHFWLRQ
3RZHUVXSSO\FRUGVVKRXOGEHURXWHGVRWKDWWKH\
DUHQRWOLNHO\WREHZDONHGRQRUSLQFKHGE\LWHPV
SODFHG XSRQ RU DJDLQVW WKHP SD\LQJ SDUWLFXODU
DWWHQWLRQ WR FRUGV DW SOXJV FRQYHQLHQFH
UHFHSWDFOHV DQG WKH SRLQW ZKHUH WKH\ H[LW IURP
WKHXQLW
1RWHWR&$79V\VWHPLQVWDOOHU
7KLVUHPLQGHULVSURYLGHGWRFDOOWKH&$79V\VWHP
LQVWDOOHU·VDWWHQWLRQWR 6HFWLRQ RI WKH1(&
ZKLFKSURYLGHV JXLGHOLQHV IRU SURSHU JURXQGLQJ
DQGLQSDUWLFXODUVSHFLILHVWKDWWKHFDEOHJURXQG
VKDOOEHFRQQHFWHGWRWKHJURXQGLQJV\VWHPRIWKH
EXLOGLQJ DV FORVH WR WKH SRLQW RI FDEOH HQWU\ DV
SUDFWLFDO
2XWGRRU$QWHQQD*URXQGLQJ
,IDQRXWVLGHDQWHQQDRUFDEOHV\VWHPLVFRQQHFWHG
WRWKH SURGXFW EHVXUHWKHDQWHQQD RUFDEOH
V\VWHPLVJURXQGHGVRDVWRSURYLGHVRPH
SURWHFWLRQDJDLQVWYROWDJH VXUJHV DQG EXLOWXS
VWDWLFFKDUJHV6HFWLRQRIWKH1DWLRQDO
(OHFWULFDO &RGH $16,1)3$ 1R 6HFWLRQ
RI &DQDGLDQ (OHFWULFDO &RGH 3DUW SURYLGHV
3257$%/(&$57:$51,1*
V\PEROSURYLGHGE\5(7$&
,PSRUWDQW6DIHJXDUGV
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 2
3URGXFW ,QIRUPDWLRQ
LQIRUPDWLRQ ZLWK UHVSHFW WR SURSHU JURXQGLQJ RI
WKH PDVW DQG VXSSRUWLQJ VWUXFWXUH JURXQGLQJ RI
WKHOHDGLQZLUH WR DQ DQWHQQDGLVFKDUJH XQLW
FRQQHFWLRQ WR JURXQGLQJ HOHFWURGHV DQG
UHTXLUHPHQWVIRUWKH JURXQGLQJ HOHFWURGH 6HH
H[DPSOHDVVKRZQ
3RZHU/LQHV
$QRXWVLGHDQWHQQD V\VWHP VKRXOG QRWEHORFDWHG
LQWKHYLFLQLW\ RI RYHUKHDG SRZHU OLQHVRWKHU
HOHFWULFOLJKWRUSRZHUFLUFXLWVRUZKHUHLWFDQIDOO
LQWR VXFK SRZHU OLQHV RU FLUFXLWV :KHQ LQVWDOOLQJ
DQ RXWVLGH DQWHQQD V\VWHP H[WUHPH FDUH VKRXOG
EH WDNHQ WR NHHS IURP WRXFKLQJ RU DSSURDFKLQJ
VXFKSRZHUOLQHVRUFLUFXLWVDVFRQWDFWZLWKWKHP
PLJKWEHIDWDO ,QVWDOOLQJ DQ RXWGRRUDQWHQQDFDQ
EHKD]DUGRXVDQGVKRXOGEHOHIWWRDSURIHVVLRQDO
DQWHQQDLQVWDOOHU
/LJKWQLQJ
)RUDGGHGSURWHFWLRQIRUWKLVXQLWGXULQJDOLJKWQLQJ
VWRUPRUZKHQLWLVOHIWXQDWWHQGHGDQGXQXVHGIRU
ORQJSHULRGVRIWLPHXQSOXJLWIURPWKHZDOORXWOHW
DQGGLVFRQQHFWWKHDQWHQQDRUFDEOHV\VWHP7KLV
ZLOO SUHYHQW GDPDJH WR WKH XQLW GXH WR OLJKWQLQJ
DQGSRZHUOLQHVXUJHV
'LVF7UD\
.HHS \RXU ILQJHUV ZHOO FOHDU RI WKH GLVF DV LW LV
FORVLQJ,WPD\FDXVHVHULRXVSHUVRQDOLQMXU\
2YHUORDGLQJ
'RQRWRYHUORDGZDOORXWOHWVRIH[WHQVLRQFRUGVDV
WKLVFDQUHVXOWLQDULVNRIILUHRUHOHFWULFVKRFN
2EMHFWDQG/LTXLG(QWU\
1HYHU SXVK REMHFWV RI DQ\ NLQG LQWR WKLV XQLW
WKURXJK RSHQLQJV DV WKH\ PD\ WRXFK GDQJHURXV
YROWDJH SRLQWV RU ´VKRUWRXWµ SDUWV WKDW FRXOG
UHVXOWLQDILUHRUHOHFWULFVKRFN1HYHUVSLOOOLTXLG
RIDQ\NLQGRQWKHXQLW
%85'(1
'R QRW SODFH D KHDY\ REMHFW RQ RU VWHS RQ WKH
SURGXFW 7KH REMHFW PD\ IDOO FDXVLQJ VHULRXV
SHUVRQDOLQMXU\DQGVHULRXVGDPDJHWRWKHSURGXFW
',6&
'RQRWXVHDFUDFNHGGHIRUPHGRUUHSDLUHGGLVF
7KHVH GLVFV DUH HDVLO\ EURNHQ DQG PD\ FDXVH
VHULRXVSHUVRQDOLQMXU\DQGSURGXFWPDOIXQFWLRQ
6HUYLFLQJ
'R QRW DWWHPSW WR VHUYLFH WKLV XQLW \RXUVHOI DV
RSHQLQJ RU UHPRYLQJ FRYHUV PD\ H[SRVH \RX WR
GDQJHURXV YROWDJH RU RWKHU KD]DUGV 5HIHU DOO
VHUYLFLQJWRTXDOLILHGVHUYLFHSHUVRQQHO
'DPDJH5HTXLULQJ6HUYLFH
8QSOXJ WKLV XQLW IURP WKH ZDOO RXWOHW DQG UHIHU
VHUYLFLQJWRTXDOLILHG VHUYLFHSHUVRQQHOXQGHUWKH
IROORZLQJFRQGLWLRQV
$:KHQ WKH SRZHUVXSSO\ FRUG RU SOXJ LV
GDPDJHG
%,IOLTXLGKDVEHHQVSLOOHGRUREMHFWVKDYHIDOOHQ
LQWRWKHXQLW
&,IWKHXQLWKDVEHHQH[SRVHGWRUDLQRUZDWHU
',I WKH XQLW GRHV QRW RSHUDWH QRUPDOO\ E\
IROORZLQJ WKH RSHUDWLQJ LQVWUXFWLRQV $GMXVW
RQO\ WKRVH FRQWUROV WKDW DUH FRYHUHG E\ WKH
RSHUDWLQJLQVWUXFWLRQV,PSURSHUDGMXVWPHQWRI
RWKHU FRQWUROV PD\ UHVXOW LQ GDPDJH DQG ZLOO
RIWHQ UHTXLUH H[WHQVLYH ZRUN E\ D TXDOLILHG
WHFKQLFLDQ WR UHVWRUH WKH XQLW WR LWV QRUPDO
RSHUDWLRQ
(,IWKHXQLWKDVEHHQGURSSHGRUWKHFDELQHWKDV
EHHQGDPDJHG
):KHQ WKH XQLW H[KLELWV D GLVWLQFW FKDQJH LQ
SHUIRUPDQFHWKLVLQGLFDWHVDQHHGIRUVHUYLFH
5HSODFHPHQW3DUWV
:KHQ UHSODFHPHQW SDUWV DUH UHTXLUHG KDYH WKH
VHUYLFHWHFKQLFLDQYHULI\WKDWWKHUHSODFHPHQWVKH
XVHV KDYH WKH VDPH VDIHW\ FKDUDFWHULVWLFV DV WKH
RULJLQDO SDUWV 8VH RI UHSODFHPHQWV VSHFLILHG E\
WKH XQLW PDQXIDFWXUHU FDQ SUHYHQW ILUH HOHFWULF
VKRFNRURWKHUKD]DUGV
6DIHW\&KHFN
8SRQFRPSOHWLRQRIDQ\VHUYLFHRUUHSDLUV WR WKLV
XQLWDVNWKHVHUYLFHWHFKQLFLDQWRSHUIRUPVDIHW\
FKHFNV UHFRPPHQGHG E\ WKH PDQXIDFWXUHU WR
GHWHUPLQH WKDW WKH XQLW LV LQ VDIH RSHUDWLQJ
FRQGLWLRQ
:DOORU&HLOLQJ0RXQWLQJ
7KHSURGXFWVKRXOGEHPRXQWHGWRDZDOORUFHLOLQJ
RQO\DVUHFRPPHQGHGE\WKHPDQXIDFWXUHU
+HDW
7KH SURGXFW VKRXOG EH VLWXDWHG DZD\ IURP KHDW
VRXUFHVVXFKDVUDGLDWRUVKHDWUHJLVWHUVVWRYHVRU
RWKHUSURGXFWVLQFOXGLQJDPSOLILHUVWKDWSURGXFH
KHDW
ANTENNA DISCHARGE UNIT
(NEC SECTION 810-20)
ANTENNA LEAD
IN WIRE
POWER SERVICE GROUNDING
ELECTRODE SYSTEM
(NEC ART 250 PART H)
GROUND CLAMP
ELECTRIC
SERVICE
EQUIPMENT
GROUNDING CONDUCTORS
(NEC SECTION 810-21)
GROUND CLAMPS
EXAMPLE OF ANTENNA
GROUNDING
NEC - NATIONAL ELECTRICAL CODE
,PSRUWDQW6DIHJXDUGV
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 3
$GYDQWDJHVRI7KLV3URGXFW$UH
'9'9&'&'&'503&'5:9+6
SOD\EDFNIXQFWLRQ
:DWFKLQJ'9'IRUUHFRUGLQJEURDGFDVW
,QWHJUDWHGUHPRWHFRQWURO9&5'9'
9,66IXQFWLRQ
0XOWLSOH[VRXQGSOD\EDFNUHFRUG
+LJK6RXQG4XDOLW\RIKHDG+L)L+L)L
0RGHORQO\
2QH7RXFKWLPHU5HFRUGLQJ275
03ILOHSOD\EDFNIXQFWLRQ&'5GLVFKDYLQJ
UHFRUGVRI03ILOHV
*8,*UDSKLFDO8VHU,QWHUIDFH26'2Q6FUHHQ
'LVSOD\
%\XVLQJWKH>',63/$<@EXWWRQRQWKHUHPRWH
FRQWUROLQIRUPDWLRQRQWKH'9'9&'&'SOD\HUDQG
GLVFFDQEHGLVSOD\HGRQWKH79VFUHHQ
6FUHHQVDYHUIXQFWLRQ'9'
'VRXQG'VRXQGHIIHFWXVLQJVSHDNHUV
+LJKELWKLJKVDPSOLQJZLWK0+]ELW
YLGHRHQFRGHU
7KLVXQLWKDV0+]ELWFDSDELOLW\WKDWHQDEOHV
WKHIDLWKIXOUHSURGXFWLRQRIILQHLPDJHV
+LJKELWKLJKVDPSOLQJZLWK.+]ELW
DXGLR'$FRQYHUWHU
:LWKWKLV.+]ELWOLQHDU3XOVH&RGH0RGXODWHG
VLJQDOVZKLFKFRQVWLWXWHWKHKLJKHVWVSHFLILFDWLRQV
LQWKH'9'VWDQGDUGV\RXFDQHQMR\IDLWKIXOO\
UHSURGXFHGVRXQGLQDOORILWVYDULRXVPRGHV7R
VXSSRUW.+]VDPSOLQJELWVRXQGWKHVKDSLQJ
QRLVHRIWKLVPXOWLOHYHOGLJLWDOVLJPDW\SHRI'$
FRQYHUWHULVNHSWIODWXSWR.+]WKXVSUHYHQWLQJ
WKHLPSRUWDQWDXGLRVLJQDOVIURPEHLQJDIIHFWHG
&RD[LDOGLJLWDORXWSXW3&0'ROE\'LJLWDOGWV
<RXFDQHQMR\KLJKOHYHOGLJLWDODXGLRE\FRQQHFWLQJ
ZLWKDPSHPEHGGHGZLWK'ROE\'LJLWDOGWV
GHFRGHU
%XLOWLQ'ROE\'LJLWDOGHFRGHU'9'
$QDORJDXGLRFKDQQHOVRXWSXWIRU'2:10,;
[
&RPSRVLWHYLGHRRXW[
6ORZ)RUZDUG5HYHUVH'9'SOD\EDFN
)DVW)RUZDUG5HYHUVHSOD\EDFN
6HDUFKRIWLWOHFKDSWHUDQGWLPHLQ'9'GLVF
DQGVHDUFKRIWUDFNDQGWLPHLQ9&'DQG&'
9DULRXV79DVSHFW'9'
IRU3DQDQG6FDQIRU/HWWHU%R[DQG
IRU:LGH
5HSHDWSOD\EDFNWLWOHDQGFKDSWHUIRU'9'
WUDFNDQGGLVFIRU9&'&'
5HSHDWDGHILQHGSHULRGIURP$WR%'9'
6HOHFWLYH3OD\'9'9&'&'
<RXFDQVHOHFWDQGSOD\WKHGHVLUHGWLWOHFKDSWHU
RI'9'DQGWUDFNRI9LGHR&'&'LQ6723PRGH
9DULRXVODQJXDJHV26'2Q6FUHHQ'LVSOD\
IXQFWLRQ'9'
<RXFDQVHOHFWDQGGLVSOD\26'DPRQJYDULRXV
ODQJXDJHV(QJOLVK)UHQFK6SDQLVK
3DUHQWDO/RFNIXQFWLRQ'9'
7KLVIXQFWLRQFDQSUHYHQWSOD\EDFNRIVRIWZDUHWKDW
PD\EHXQVXLWDEOHIRUFKLOGUHQ
0XOWL$XGLRIXQFWLRQ'9'
7KHDXGLRVRXQGWUDFNFDQEHKHDUGLQXSWR
ODQJXDJHV,QWKHFDVHRI69&'RU&9'LWGHSHQGV
RQWKHGLVF7KHQXPEHURIDXGLRODQJXDJHV
GHSHQGVRQWKHVRIWZDUH
0XOWL6XEWLWOHIXQFWLRQ'9'
7KHVXEWLWOHFDQEHVHHQLQXSWRODQJXDJHV,Q
WKHFDVHRI69&'RU&9'LWGHSHQGVRQWKHGLVF
7KHQXPEHURIVXEWLWOHODQJXDJHVGHSHQGVRQWKH
VRIWZDUH
0XOWL$QJOHIXQFWLRQ'9'
7KLVIXQFWLRQDOORZV\RXWRFKRRVHWKHYLHZLQJDQJOH
RIVFHQHVZKLFKZHUHVKRWIURPDQXPEHURI
GLIIHUHQWDQJOHV7KHQXPEHURIDQJOHVGHSHQGVRQ
WKHVRIWZDUH
6FUHHQ]RRPIXQFWLRQ'9'9&'
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 4
3URGXFW ,QIRUPDWLRQ
5HDG&DUHIXOO\EHIRUH8VLQJ
&DXWLRQVLQXVHRI'9'9LGHRSOD\HUDUHGHVFULEHGEHORZ
3OHDVHUHDGFDUHIXOO\EHIRUHXVLQJD'9'9LGHRSOD\HU
,QVWDOODWLRQSODFHDQGKDQGOLQJ
:KHQ \RX SODFH WKLV SOD\HU QHDU RWKHU GHYLFHV
WKH\PD\DIIHFWSRRUO\WRJHWKHU
:KHQ \RX SODFH '9'9LGHR SOD\HU DQG 79 LQ WKH
XSSHU DQG ORZHU VLGHV LW PD\ FDXVH IOLFNHULQJ RI
SLFWXUHVRUIDLOXUHWDSHLVQRWHMHFWHG
:KHQ \RX SODFH WKLV SOD\HU QHDU VWURQJ PDJQHWLF
PDWHULDOV LW PD\ DIIHFW LPDJH RU YRLFH SRRUO\ RU
GDPDJHUHFRUGLQJ
'R QRW VSLOO YRODWLOH OLTXLGV OLNH LQVHFW VSUD\ RYHU
WKHSOD\HU'RQRWOHDYHUXEEHURUSODVWLFSURGXFWV
LQ FRQWDFW ZLWK WKH SOD\HU IRU D ORQJ WLPH 7KH\
ZLOOFDXVHGHWHULRUDWLRQRUSDLQWSHHORII
1RWLQXVH
:KHQWKHXQLWLVQRWLQXVHEHVXUHWRUHPRYHWKH
GLVFRUWDSHDQGWXUQRIIWKHSRZHU
,I\RXGRQRWXVHWKHXQLWIRUDORQJSHULRG
UHPRYHEDWWHULHVLQUHPRWHFRQWUROWRSUHYHQW
OHDNDJH
,QFDVH\RXGRQ·WXVHWKHXQLWIRUDORQJWLPHWKH
XQLWPD\QRWIXQFWLRQSURSHUO\LQWKHIXWXUH7XUQ
RQDQGXVHWKHSOD\HURFFDVLRQDOO\
0RYLQJ
5HSDFNWKHXQLWDVLWZDVRULJLQDOO\SDFNHGDWWKH
IDFWRU\$OWHUQDWLYHO\ SDFNWKLVSURGXFW ZLWK
WRZHOQRWWREHGDPDJHG
(MHFWDQ\YLGHRWDSH
&OHDQLQJ
'XVWRIIGLUWLQ FDELQHWRU FRQWUROSDQHOSDUW
VPRRWKO\ZLWKDVRIWFORWK
)RUKHDY\GLUWVRDNWKHFORWKLQDZHDNGHWHUJHQW
VROXWLRQZULQJLW ZHOO DQG ZLSH 8VHDGU\FORWK
WRZLSHLWRXW
)ROORZLQVWUXFWLRQVLQXVLQJFKHPLFDOFOHDQHUV
'RQRWXVHDQ\W\SHRIVROYHQWVXFKDVJDVROLQHRU
EHQ]HQHDVWKH\PD\FDXVHGHWHULRUDWLRQRUSDLQW
SHHORII
&KHFNLQJ
9LGHRLVDKLJKSUHFLVLRQGHYLFH7RREWDLQDFOHDU
VFUHHQZHUHFRPPHQG UHJXODU LQVSHFWLRQ DQG
PDLQWHQDQFHHYHU\KRXUVRIXVHE\WHFKQLFDO
HQJLQHHUV
)RUFKHFNLQJ FRQWDFW\RXUGHDOHU RU\RXUQHDUHVW
VHUYLFHFHQWHU
&KHFNLQJDQG5HSODFHPHQWRI$QWHQQD
$QWHQQD LV VXEMHFW WR FKDQJH LQ LWV GLUHFWLRQ RU
GDPDJHE\ZLQGDQGUDLQ)RUFOHDQVFUHHQ
FRQWDFW DQG FRQVXOW \RXU QHDUHVW VHUYLFH FHQWHU
DERXWFKHFNLQJDQGUHSODFHPHQW
,QUHFRUGLQJLPSRUWDQWVFUHHQ
%H VXUH WR UHFRUG WKH VFUHHQ DQG FKHFN ZKHWKHU
UHFRUGLQJ LV SHUIRUPHG SURSHUO\ :H EHJ \RX WR
XQGHUVWDQGFRPSHQVDWLRQRIUHFRUGLQJLIUHFRUGLQJ
LVQRWSHUIRUPHGE\EDGQHVVRIXVHGWDSHRUYLGHR
&RS\ULJKW
'RQRWXVH\RXUUHFRUGLQJVZLWKRXWSHUPLVVLRQRID
FRS\ULJKWHUH[FHSWSHUVRQDOXVDJH
7DSHDQG'LVF+DQGOLQJ
'R QRW XVH DQ\ WDSH DQG GLVF EHORZ 'DPDJH RI
YLGHRKHDGRUFXWFRLOLQJRIWDSHPD\FDXVH
IDLOXUH
7DSHZLWKPROG
7DSHRUGLVFVWDLQHGZLWKMXLFHRUDWWDFKPHQWV
7DSHKDYLQJEUHDNDJHFRQQHFWLRQ
'LVDVVHPEOHGWDSH
'LVFZLWKVHYHUHVFUDWFK
0RLVWXUHFRQGHQVDWLRQPD\RFFXULQWDSH0RLVWXUH
FRQGHQVDWLRQ GDPDJHV WKH WDSH 3OHDVH XVH WKH
WDSH DIWHU WKH PRLVWXUH FRQGHQVDWLRQ LV
GLVDSSHDUHG
$IWHUXVHVWRUHWDSHYHUWLFDOO\LQDFDVHWRSUHYHQW
ORRVH
'RQRWVWRUHWKHIROORZLQJSODFHV
+LJKWHPSHUDWXUHDQGKXPLGLW\
6XEMHFWJHQHUDWLRQRIPROG
6XEMHFWWRGLUHFWVXQOLJKW
0XFKGLUWRUGXVW
1HDUVWURQJPDJQHWLFPDWHULDOVVXFKDVVSHDNHU
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 5
&RQWHQWV
,PSRUWDQW6DIHJXDUGV
$GYDQWDJHVRI7KLV3URGXFW$UH
5HDG&DUHIXOO\EHIRUH8VLQJ
&RQWHQWV
,GHQWLILFDWLRQRI&RQWUROV
5HPRWH&RQWURO
&RQQHFWLQJZLWK79
)0$0$QWHQQDFRQQHFWLRQ
6SHDNHUV\VWHPFRQQHFWLRQ
&RQQHFWLQJZLWK2WKHU9LGHR(TXLSPHQW
2XWSXW6HOHFW
&ORFN6HW
9&52SHUDWLRQ
9&53OD\EDFN
0HPRUL]LQJ79&KDQQHOV
8VLQJDGYDQFHGIHDWXUHV
+L)L6WHUHR3OD\EDFN
+L)L0RGHORQO\
5HFRUGLQJ
5HFRUGLQJ
7LPHU5HFRUGLQJV
:DWFKLQJDQG5HFRUGLQJ&DEOH79
5DGLR2SHUDWLRQ
3UHVHWWLQJWKHUDGLRVWDWLRQV
/LVWHQLQJWRWKHUDGLR
6SHDNHU6HWXS
6SHDNHU6HWXSIRUHQMR\LQJWKHVXUURXQGVRXQG
HIIHFW
'HOD\7LPH6HWWLQJ
6HWWLQJWKHVRXQGOHYHO
,QVWDOODWLRQ
'9'3OD\EDFN
3OD\LQJDGHVLUHGVFHQH
&RQILUPLQJWKHFXUUHQW3/$<PRGHRQVFUHHQ
$8',2ODQJXDJH68%7,7/(ODQJXDJH
DQG'$8',2
=2200XOWL$QJOHDQG'LJHVWSOD\
$ERXW03GLVFV
'LVSOD\LQJPHQXVLQDGLVF
'9'LQLWLDOVHWWLQJ
',63/$<6HWXS
$8',26HWXS
5$7,1*66HWXS
/$1*8$*(6HWXS
$ERXW'9'
%DVLFLQIRUPDWLRQDERXW9&5DQG9LGHRWDSH
%HIRUHGRXEWLQJDERXWWURXEOHV'9'
%HIRUHGRXEWLQJDERXWWURXEOHV9&5
6SHFLILFDWLRQV
:DUUDQW\
'9'6HWXS
'9'2SHUDWLRQ
7KHRWKHUV
3URGXFW,QIRUPDWLRQ
DV8T911N-QJ 03.4.22 5:23 AM ˘ ` 6
3URGXFW ,QIRUPDWLRQ
,GHQWLILFDWLRQRI&RQWUROV
)URQWSDQHO
!
3RZHU67$1'%<21EXWWRQ
8VHWRSRZHUWKHGHYLFHRQRIILI$&SRZHUVXSSO\
LVFRQQHFWHG
@
3ODFHWRLQVHUWYLGHRWDSH
,QVHUWWKHGHVLUHGWDSH
#
(MHFWEXWWRQ
8VHWRHMHFWWKHWDSH
$
'LVFWUD\
%
2SHQ&ORVH7UD\EXWWRQ
2SHQRUFORVHWUD\E\SUHVVLQJ>23(1&/26(@
EXWWRQ3ODFHDGLVFRQWKHGLVFWUD\ODEHOVLGHXS
^
9LGHR$XGLRLQSXWMDFN
&RQQHFWDFDEOHFRPLQJIURPWKHYLGHRDXGLRRXW
MDFNVRIDFDPFRUGHUDQRWKHU9&5RUDQDXGLR
YLVXDOVRXUFHKHUH
&
3OD\EDFN3$86(EXWWRQ
3OD\EDFNYLGHRWDSHRUGLVF
3UHVVWKLVEXWWRQWRSDXVHDVFUHHQ
*
6WRS0(025<EXWWRQ
8VHWRVWRSSOD\LQJDWDSHRUGLVF8VHWRPHPRU\
UDGLRVWDWLRQV
(
7XQLQJ6HDUFK²
6HDUFKœœ 8VHWRUHZLQGFXUUHQWO\EHLQJ
SOD\HGYLGHRWDSHRUGLVFRUWRSOD\EDFNEDFN
UDSLGO\
6HDUFK√√8VHWRZLQGFXUUHQWO\EHLQJSOD\HG
YLGHRWDSHRUGLVFRUWRSOD\EDFNUDSLGO\
7XQLQJ² 6FDQDOODYDLODEOHUDGLRVWDWLRQV
)
5HFRUGEXWWRQ
5HFRUGDSURJUDPPHIURP79RURWKHUVRXUFHV
H[FHSW'9'
1
2SHUDWLRQ'LVSOD\:LQGRZ
'LVSOD\RSHUDWLRQRIGHYLFH)RUPRUHLQIRUPDWLRQ
VHH´2SHUDWLRQ'LVSOD\:LQGRZµLQWKHQH[WSDJH
2
'9'36&$1LQGLFDWRU
,OOXPLQDWHLQ'9'PRGH
3
9+65(&LQGLFDWRU
,OOXPLQDWHLQ9&5PRGH
4
9&5287387EXWWRQ
8VHWRFKDQJHLQWR9&5RURWKHURXWSXWPRGH
5
&KDQQHO3UHVHW²
8VHWRVHOHFWWKHPHPRULVHG79EURDGFDVWLQJ
FKDQQHORUUDGLRVWDWLRQV
6
'9'EXWWRQ
8VHWRFKDQJHLQWR'9'PRGH
7
6281'),(/'EXWWRQ
8VHWRDGMXVWWKH6RXQG)LHOGVDQG*UDSKLF
(TXDOL]HU
8
$0)0EXWWRQ
8VHWRFKDQJHLQWR5$',2PRGH
9
9ROXPHFRQWURO
&KDQJHWKHORXGQHVVRIWKHVRXQGIURPWKH
VSHDNHUVFRQQHFWHGWRWKHXQLW
0
0LFURSKRQHMDFN
6-head hi-fi stereo
+LJK4XDOLW\
O
H
!
& 1)^
@ $ %#
( 52 3 7 9 0* 6 84
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 7
2SHUDWLRQ'LVSOD\:LQGRZ
,GHQWLILFDWLRQRI&RQWUROV
!
6SHDNHUVHWXSLQGLFDWRU
@
7LWOHLQGLFDWRU
#
0HPRULVHG79EURDGFDVWLQJFKDQQHORUUDGLR
VWDWLRQV
$
&KDSWHULQGLFDWRU
%
7UDFNLQGLFDWRU
^
)LOHLQGLFDWRU
&
6XELQGLFDWRU
*
'LUHFWRU\LQGLFDWRU
(
7RWDOFRQWHQWVLQGLFDWRU
)
5HPDLQLQJ7LPHLQGLFDWRU
1
6OHHSWLPHLQGLFDWRU
2
3OD\EDFNGLVFLQGLFDWRU
3
'ROE\'LJLWDOLQGLFDWRU
4
3URORJLF,,LQGLFDWRU
5
3OD\EDFNLQGLFDWRU
6
3DXVHLQGLFDWRU
7
'76LQGLFDWRU
8
'63LQGLFDWRU
9
3&0LQGLFDWRU
0
3%&3OD\EDFN&RQWUROLQGLFDWRU
“
5'6LQGLFDWRU
‘
7$73LQGLFDWRU
+
)06WHUHRLQGLFDWRU
=
0XWHLQGLFDWRU
Q
5DQGRPSOD\EDFNLQGLFDWRU
q
5HSHDWSOD\EDFNLQGLFDWRU
W
,1752LQGLFDWRU
!
4 5 6 78 9 ‘“0 += Q Wq
2
3
@ # $ % ^ & * ( ) 1
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 8
3URGXFW ,QIRUPDWLRQ
,GHQWLILFDWLRQRI&RQWUROV
5HDU3DQHO
!
3RZHU&RUG
,WLVDMDFNIRUVXSSO\LQJSRZHUWRWKHXQLW
&RQQHFWWRRXWOHWLQDZDOO
@
$QDORJ6SHDNHU2XW-DFN
&RQQHFWHDFKRIWKHVSHDNHUZLUHVWRWKHVDWHOOLWH
VSHDNHUV
#
&RQQHFWLRQWR$QWHQQD&DEOH
$
$0$QWHQQD-DFN
%
69LGHR2XWSXW-DFN
^
&20321(172XW-DFN
7RREWDLQEHWWHUVFUHHQTXDOLW\FRQQHFWWKHXQLW
WR79RUPRQLWRUZLWK&20321(17LLQSXW
&
:RRIHU2XW-DFN
*
$92XWSXW-DFN
(
$9,QSXW-DFN
)
$9,QSXW-DFN
1
&RQQHFWLRQWR79
2
)0$QWHQQD-DFN
)52175 )5217/
5($5/
:22)(5
5($55
&(17(5
63($.(5
&20321(17287
,1
,1287
69,'(2287
:22)(5287
$8',2
$17,1
$0
)0
5)287
5
/
9,'(2
3U 3E <
,03('$1&(86(:22)(586(
@! # $
% & *() 1 2
^
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 9
5HPRWH&RQWURO
23(1&/26(
±
75$&.,1*
&/($5
6(783
(17(5
2.
=220
5(&
352*5$0
0(025<
6($5&+ 68%7,7/( $8',2 6281'),(/'
5(3($7 $±% '(/$< /(9(/
087( &/.&17 799&5
79,1387
6/((3
67(3
63(('$1*/(
&+35(6(7
',63/$<
)0$0
0(18
7,7/(3%&
36&$1
,1387
9&5
32:(5
'9' 79
92/92/±
±
781,1*6($5&+
±
!+
=
Q
q
W
w
Ee
R
T
Y
U
r
t
y
@
)
2
4
6
8
0
‘
#
$
%
^
&
*
(
1
3
5
7
9
“
!>'9'@ 23(1&/26( EXWWRQ>9&5@ (-(&7EXWWRQ
@'9'6(/(&7EXWWRQ
#9&56(/(&7EXWWRQ
$>'9'9&5@ 180%(5 EXWWRQ>9&5@ 75$&.,1* ²EXWWRQ
%&/($5EXWWRQ
^6(783EXWWRQ
&>'9'@ 7,7/( 3%&EXWWRQ
*>'9'9&5@ 8VHWRKLJKOLJKWVHOHFWLRQVRQDPHQXDQG
DGMXVWFHUWDLQVHWWLQJV>5$',2@ $GMXVWWKHYROXPH
(>'9'@ 0(18 EXWWRQ
)(17(5&RQILUPVHOHFWLRQVRQDPHQXVFUHHQ
EXWWRQ
1>'9'@ =220EXWWRQ
2>9&5@ 7,0(55(&25',1*EXWWRQ>'9'@ 352*5$0
EXWWRQ
3>'9'9&5@ )25:$5'5(9(56(6($5&+ EXWWRQ>5$',2@
6FDQDOODYDLODEOHUDGLRVWDWLRQV
43/$<3$86( EXWWRQ
5>9&5@ 5HFRUGEXWWRQ
667(3)25:$5'5(9(56( EXWWRQ
7>'9'@ &KDSWHU7LWOH7LPH6($5&+ EXWWRQ
8>'9'@ 68%7,7/( 6HOHFWEXWWRQ>5$',2@ 6ZLWFKEHWZHHQ
$0RU)0EXWWRQ
9>'9'@ 5(3($7 3OD\EDFNEXWWRQ
0>'9'@ 5(3($7DGHILQHGSHULRGIURP$WR% EXWWRQ
“6281'087(EXWWRQ
‘>'9'9&5@ &/2&.&2817(5 EXWWRQ
+32:(5 EXWWRQ
=796(/(&7EXWWRQ
Q>9&5@ 36&$1EXWWRQ
q>'9'9&5@ 26'',63/$< EXWWRQ
W>5$',2@ )0$06HOHFWEXWWRQ
w>9&5@ &KDQQHO8S'RZQEXWWRQ>5$',2@ 7XQHWRWKH
SUHVHWWHGVWDWLRQV
E>'9'@ $1*/(>9&5@ 5HFRUG63((' EXWWRQ
e67230(025<(QWHUWKHQXPEHURIDVHOHFWHG
FKDSWHUWUDFNVWDWLRQRUFKDQQHOEXWWRQ
R>'9'@ 35(9,286PRYHLQWRDSUHYLRXVFKDSWHURU
WUDFN1(;70RYHLQWRDQH[WFKDSWHURUWUDFN
EXWWRQ>9&5@ )UDPH$GYDQFHEXWWRQLQSDXVHPRGH
r>'9'@ 6281'),(/'EXWWRQ
T>'9'@ $8',2/$1*8$*( 6HOHFW>9&5@ $8',26HOHFW
EXWWRQ>5$',2@ 6HW)00RGHWR6WHUHRRU0RQRVRXQG
t>'9'@ 6RXQG/(9(/ EXWWRQ
Y>'9'@ '(/$<EXWWRQ
y6/((3 EXWWRQ
U799&56HOHFW79,1387EXWWRQ
3UHVV WKH SRZHU >√@ EXWWRQ RI WKH UHPRWH
FRQWURO IRU DERXW VHFRQGV 1R EXWWRQV RI
IURQWSDQHODQGUHPRWHFRQWUROFDQEH
RSHUDWHGQRZDQG/RFNLQGLFDWRU´ µ
ZLOOEH GLVSOD\HGRQ ZLQGRZGLVSOD\ 7R
UHOHDVHFKLOGORFN SUHVVWKHSRZHU >√@
EXWWRQ RI WKH UHPRWH FRQWURO IRU DERXW
VHFRQGV
&KLOG/RFN9&5PRGH
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 10
3URGXFW ,QIRUPDWLRQ
,QVWUXFWLRQVLQXVLQJUHPRWHFRQWURO
2SHUDWHUHPRWHFRQWUROZLWKLQPIURPWKHXQLW
'RQRWSUHVVWZREXWWRQVDWWKHVDPHWLPH
'RQRWOLJKWXSVHQGLQJSDUWRIUHPRWHFRQWURO
'RQRWNHHSLQWKHSODFHZLWKPXFKGXVWDQGKXPLGLW\
6-head hi-fi stereo
+LJK4XDOLW\
O
H
23(1&/26(
±
75$&.,1*
&/($5
6(783
(17(5
2.
=220
5(&
352*5$0
0(025<
6($5&+ 68%7,7/( $8',2 6281'),(/'
5(3($7 $±% '(/$< /(9(/
087( &/.&17 799&5
79,1387
6/((3
67(3
63(('$1*/(
&+35(6(7
',63/$<
)0$0
0(18
7,7/(3%&
36&$1
,1387
9&5
32:(5
'9' 79
92/92/±
±
781,1*6($5&+
±
$FFHVVRULHV
5HPRWH&RQWURO %DWWHULHV 5)FDEOH
$0DQWHQQD )0DQWHQQD
&RQQHFWLQJFDEOHWR
$XGLR9LGHRMDFN
2ZQHU·V0DQXDO
:DUUDQW\
23(1&/26(
±
75$&.,1*
&/($5
6(783
(17(5
2.
=220
5(&
352*5$0
0(025<
6($5&+ 68%7,7/( $8',2 6281'),(/'
5(3($7 $±% '(/$< /(9(/
087( &/.&17 799&5
79,1387
6/((3
67(3
63(('$1*/(
&+35(6(7
',63/$<
)0$0
0(18
7,7/(3%&
36&$1
,1387
9&5
32:(5
'9'79
92/
92/±
±
781,1*6($5&+
±
5HPRWH&RQWURO
7RSXUFKDVHDFFHVVRULHVRUQRWVXSSOLHGSDUWVDGGLWLRQDOO\
FRQWDFW\RXUQHDUHVWGHDOHURUVHUYLFHFHQWHU%XWRZQHU·V
PDQXDODQGZDUUDQW\DUHQRWVROGDGGLWLRQDOO\
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 11
9DULRXVPHWKRGVLQFRQQHFWLQJZLWK79
$8',2
9,'(2
69,'(2
$17,1387
69,'(2,1387
$9,1387&20321(17,1387
&$87,21
&$87,21725('8&(7+(5,6.2)(/(&75,&6+2&.
'21275(029(&29(525%$&.
1286(56(59,&($%/(3$576,16,'(
5()(56(59,&,1*7248$/,),('6(59,&(35(6211(/
5,6.2)(/(&75,&6+2&.
'212723(1
)52175 )5217/
5($5/
:22)(5
5($55
&(17(5
63($.(5
&20321(17287
,1
,1287
69,'(2287
:22)(5287
$8',2
$17,1
$0
)0
5)287
5
/
9,'(2
3U 3E <
,03('$1&(86(:22)(586(
0HWKRG
0HWKRG
5HPRYHFLUFXODUFDEOH5)FDEOHVXUSOXVFDEOHSOXJJHGLQ´$17,1µ-DFNLQUHDUSDQHORI79&RQQHFWWKH
FDEOHWR´$17,1µMDFNLQUHDUSDQHORI'9'9LGHR&RQQHFW79WR'9'9LGHR&RQQHFW´5)287µMDFNLQ'9'
9LGHRZLWK´$17,1µMDFNLQ79ZLWK5)FDEOH
0HWKRG
0HWKRG
&RQQHFWLQJWRD79WKDWKDVDDXGLRYLGHRLQMDFNV
&RQQHFW9,'(2287 MDFNLQ'9'9LGHRWR9,'(2,1 MDFNLQ79DQG$8',2287 MDFNLQ'9'9LGHRWR$8',2,1
MDFNLQ79ZLWKFRQQHFWLQJFDEOHRI$XGLR9LGHRMDFN6HOHFW9&5PRGHE\SUHVVLQJ79,1387EXWWRQLQ79\RX
FDQYLHZPRUHFOHDUVFUHHQDQGVRXQGWKDQFRQQHFWLRQZLWK5)FDEOHRQO\
0HWKRG
0HWKRG
&RQQHFWLQJWRD79WKDWKDVDFRPSRQHQWYLGHRLQMDFNV
8VHDFRPSRQHQWYLGHRFDEOHFRPPHUFLDOO\DYDLODEOHLQSODFHRIWKH\HOORZYLGHRFDEOHWRHQMR\KLJKHUTXDOLW\
SLFWXUHV7KHFRPSRQHQWYLGHRFRQQHFWLRQRQO\VXSSOLHVYLGHRSLFWXUHLQWKH'9'PRGHRIWKH'9'9LGHR
7KHUHIRUHLQRUGHUWRXVHWKH9&5IHDWXUHVRUYLHZ79FKDQQHOVDWWKH'9'9LGHR\RXVWLOOQHHGWRHLWKHU
FRQQHFWWKH5)FRD[LDOFDEOHEHWZHHQWKH$17287MDFNRIWKH'9'9LGHRDQGWKH79·V$QWHQQD,QMDFNRU
FRQQHFWWKHYLGHRFDEOH
■,QWKHLQLWLDO6(7H[FOXVLYHFKDQQHOIRUYLGHRLVVHWWR&+7RFKDQJHWKLVVHWWLQJVHWDJDLQLQ´&+$11(/
6(7µVFUHHQLQ9&5RSHUDWLRQ
■,QFRQQHFWLQJ5)FDEOHWR79VHW79FKDQQHOWR&+
2XWVLGH$QWHQQDRU
:DOO$QWHQQD2XWOHW!
5HDU3DQHORIXQLW!
5HDU3DQHORI79!
0HWKRG
0HWKRG
0HWKRG
0HWKRG
&RQQHFWLQJZLWK79
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 12
,QVWDOODWLRQ
9+)aFKDQQHOVRI798+)aFKDQQHOVRI79&$79%URDGFDVWLQJLVWUDQVPLWWHGZLWKFDEOHIURP
EURDGFDVWLQJVWDWLRQE\FRQWUDFWZLWKWKHVWDWLRQDQGFRQVXPHUV,WGRHVQRWQHHGDQ\DQWHQQD
,Q2XWMDFNLQ$XGLR9LGHRWHUPLQDO,Q$MDFNXVHGWRUHFHLYHVLJQDOUHTXLUHGLQWKLVXQLWIURPRWKHUXQLWV
2XW$MDFNXVHGWRVHQGVLJQDORIWKLVXQLWWRRWKHUXQLWV
&RQQHFWZLWK$XGLR9LGHRWHUPLQDO\RXFDQHQMR\PRUHFOHDUYLGHRDQGDXGLR8VH287387EXWWRQLQWKLVUHPRWH
FRQWUROWRVHOHFWYLGHRPRGH
,IVFUHHQLVEURNHQLQFRQQHFWLQJ&20321(172XWWR3U3E<RI79&20321(17,QMDFNFRQQHFWWR&U&E<
0HWKRG
0HWKRG
&RQQHFWLQJWRD79WKDWKDVD69LGHRLQMDFNV
8VHD69LGHRFDEOHQRWVXSSOLHGWRHQMR\KLJKHUTXDOLW\SLFWXUHV
&RQQHFWLRQZLWK&DEOH%R[
,1387
,1
287 $17,1
,1387
,1,1287
$8',2
$17,1
$0
)0
5)287
5
/
9,'(2
287
287
,1
,I\RXUFDEOHV\VWHPRQO\UHTXLUHV
\RXWRXVHDFRQYHUWHUER[IRU
VRPHFKDQQHOV
LHSD\79FKDQQHOVIROORZWKHVH
VWHSV)LQGWKHSULPDU\LQFRPLQJ5)
FDEOH3OXJWKLVFDEOHLQWRDVSOLWWHU
DYDLODEOHDW\RXUORFDOHOHFWURQLFV
VWRUH&RQQHFWRQH5)FDEOH
EHWZHHQRQH287WHUPLQDORQWKH
■<RXVKRXOGLQVWDOODGLVWULEXWRUDGGLWLRQDOO\
VSOLWWHUDQGWKH,1WHUPLQDORQWKHFRQYHUWHUER[
&RQQHFWDQRWKHU5)FDEOHEHWZHHQWKHRWKHU287WHUPLQDORQWKHVSOLWWHUDQGWKH$,1WHUPLQDORQDQ$%
VZLWFKDYDLODEOHDW\RXUORFDOHOHFWURQLFVVWRUH&RQQHFWDWKLUG5)FDEOHEHWZHHQWKH287WHUPLQDORQWKH
FRQYHUWHUER[DQGWKH%,1WHUPLQDORQWKH$%VZLWFK
&RQQHFWD5)FDEOHEHWZHHQWKH287WHUPLQDORQWKH$%VZLWFKDQGWKH$17,1RQ\RXU'9'9,'(2
:KHQWKH$%VZLWFKLVLQWKH%SRVLWLRQXVHWKHFRQYHUWHUER[WRFKDQJHFKDQQHOVZKHQWKH$%VZLWFKLVLQ
WKH$SRVLWLRQXVHWKH'9'9,'(2WRFKDQJHFKDQQHOV
5HDU3DQHORIXQLW!
&RQYHUWHU%R[! 5HDU3DQHORI79!
5)&DEOH
$8',29,'(2&DEOH
5)&DEOH
5)&DEOH
$%6ZLWFK!
6SOLWWHU1RWVXSSRUWHG!
&DEOH$QWHQQD!
5)&DEOH
&RQQHFWLQJZLWK79
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 13
)0$0$QWHQQDFRQQHFWLRQ
)52175 )5217/
5($5/
:22)(5
5($55
&(17(5
63($.(5
&20321(17287
,1
,1287
69,'(2287
:22)(5287
$8',2
$17,1
$0
)0
5)287
5
/
9,'(2
3U 3E <
,03('$1&(86(:22)(586(
&RQQHFWWKHVXSSOLHG)0$0DQWHQQDVIRUOLVWHQLQJWRWKHUDGLR
&RQQHFWWKH$0ORRSDQWHQQDWRWKH$0DQWHQQDFRQQHFWRU
&RQQHFWRUWKH)0ZLUHDQWHQQDWRWKH)0DQWHQQDFRQQHFWRU
)0ZLUHDQWHQQD
VXSSOLHG
$0ORRSDQWHQQD
VXSSOLHG
7RSUHYHQWQRLVHSLFNXSNHHSWKH$0ORRSDQWHQQDDZD\IURPWKH'9'5HFHLYHUDQGRWKHUFRPSRQHQW
%HVXUHWRIXOO\H[WHQGWKH)0ZLUHDQWHQQD
$IWHUFRQQHFWLQJWKH)0ZLUHDQWHQQDNHHSLWDVKRUL]RQWDODVSRVVLEOH
+RZWRZDWFKJHQHUDOEURDGFDVWLQJZLWKUHFRUGLQJ&$79
6HW&KDQQHO6HOHFWVZLWFKRI&RQYHUWHU%R[WR&+RUDVVDPHDVYLGHRH[FOXVLYHFKDQQHO3UHVV>6(7@
EXWWRQLQ>9&5@RSHUDWLRQWRVHWYLGHRH[FOXVLYHFKDQQHOLQ´&+$11(/6(7µVFUHHQ
3UHVVFKDQQHOEXWWRQRI&RQYHUWHU%R[WRVHOHFWFKDQQHOWREHUHFRUGHG,QWKLVFDVHLI\RXZDQWWRZDWFK
&$79WREHUHFRUGHGSUHVV>79,1387@EXWWRQRI79WRVHOHFW´2XW9&5µ
3UHVV>5(&@ EXWWRQLQ'9'9LGHR
7RZDWFKJHQHUDOEURDGFDVWLQJSUHVVFKDQQHOEXWWRQLQ79WRVHOHFWWKHGHVLUHGFKDQQHO
)RUVRPHW\SHVRI79\RXVKRXOGSUHVV>79,1387@EXWWRQLQ79UHPRWHFRQWURODQGFRQYHUWIURP2XW9&5RU
2XW9&5PRGHWR%URDGFDVWLQJ&KDQQHOPRGHWRFKDQJH79FKDQQHO
&KDQJHFKDQQHOVHOHFWLRQRI&$79UHFHLYHULQUHFRUGLQJFRQWHQWVRIUHFRUGLQJLVFKDQJHG
&RQQHFWLQJZLWK79
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 14
,QVWDOODWLRQ
6SHDNHUV\VWHPFRQQHFWLRQ
&RQQHFWWKHVSHDNHUVXVLQJWKHVXSSOLHGVSHDNHUFRUGVE\PDWFKLQJWKHFRORUVRIWKHWHUPLQDOVDQGWKRVHRIWKH
FRUGV7RREWDLQWKHEHVWSRVVLEOHVXUURXQGVRXQGDGMXVWWKHVSHDNHUSDUDPHWHUVGLVWDQFHOHYHOHWF
)52175 )5217/
5($5/
:22)(5
5($55
&(17(5
63($.(5
&20321(17287
,1
,1287
69,'(2287
:22)(5287
$8',2
$17,1
$0
)0
5)287
5
/
9,'(2
3U 3E <
,03('$1&(86(:22)(586(
)URQWVSHDNHU
ULJKW )URQWVSHDNHU
OHIW 5HDUVSHDNHU
OHIWVXUURXQG
5HDUVSHDNHU
ULJKWVXUURXQG &HQWHUVSHDNHU
6XEZRRIHU
,I\RXIHHOODFNRI
EDVVIUHTXHQF\
&RQQHFWDQDFWLYHVXEZRRIHUWR
WKH:22)(5287FRQQHFWRUXVLQJ
DPRQDXUDODXGLRFRUGQRW
VXSSOLHG:KHQ\RXFRQQHFWDQ
DFWLYHVXEZRRIHUGLVFRQQHFWWKH
ZRRIHUIURPWKH:22)(5VSHDNHU
FRQQHFWRU
6XEZRRIHU
%HVXUHWRPDWFKWKHVSHDNHUFRUGWRWKHDSSURSULDWHWHUPLQDORQWKHFRPSRQHQWVWRDQG²WR²,IWKHFRUGVDUH
UHYHUVHGWKHVRXQGZLOOEHGLVWRUWHGDQGZLOOODFNEDVH
,I\RXXVHIURQWVSHDNHUVZLWKORZPD[LPXPLQSXWUDWLQJDGMXVWWKHYROXPHFDUHIXOO\WRDYRLGH[FHVVLYHRXWSXWRQ
WKHVSHDNHUV
'RQRWGLVDVVHPEOHWKHIURQWFRYHURIVXSSOLHGVSHDNHU
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 15
&RQQHFWLQJZLWK2WKHU(TXLSPHQW
&RQQHFWLRQZLWKRWKHUYLGHRHTXLSPHQW
$8',2
9,'(2
$17,1387
$9287387
&$87,21
&$87,21725('8&(7+(5,6.2)(/(&75,&6+2&.
'21275(029(&29(525%$&.
1286(56(59,&($%/(3$576,16,'(
5()(56(59,&,1*7248$/,),('6(59,&(35(6211(/
5,6.2)(/(&75,&6+2&.
'212723(1
)52175 )5217/
5($5/
:22)(5
5($55
&(17(5
63($.(5
&20321(17287
,1
,1287
69,'(2287
:22)(5287
$8',2
$17,1
$0
)0
5)287
5
/
9,'(2
3U 3E <
,03('$1&(86(:22)(586(
+RZWR&RS\(GLW7DSHZLWK2WKHU9LGHR(TXLSPHQW
&RQQHFW$XGLR9LGHR2XW MDFNLQRWKHUYLGHRHTXLSPHQWWR$XGLR9LGHR
,Q MDFNLQUHDUSDQHORUIURQWSDQHORI'9'9LGHRZLWKFRQQHFWLQJFDEOH
&RQQHFW´$17,1µMDFNLQ79WR´5)287µMDFNLQ'9'9LGHRZLWK5)
FDEOH
7RUHFRUGFRQWHQWVRIRWKHUYLGHRHTXLSPHQWZLWK'9'9LGHRLQVHUW
UHFRUGLQJWDSHDWWDFKHGUHFRUGLQJWDELQ'9'9LGHR
7XUQRQ'9'9LGHR
3UHVV>287387@EXWWRQRIUHPRWHFRQWURODQGDGMXVW'9'9LGHRWRGLVSOD\´$9µ´$9µRU´$9µLQ79
VFUHHQ
3UHVV>3/$<@EXWWRQLQRWKHUYLGHRHTXLSPHQW
3UHVV>5(&@EXWWRQLQ'9'9LGHRLI\RXZDQWWRUHFRUGFRQWHQWVRIRWKHUYLGHRHTXLSPHQW
3UHVV>3DXVH@EXWWRQLQ'9'9LGHRZKHQXQQHFHVVDU\RUXQGHVLUHGVFHQHLVGLVSOD\HGLQUHFRUGLQJ
&DXWLRQ5HFRUGLQJLVUHOHDVHGDXWRPDWLFDOO\DIWHUPLQXWHVVLQFHSUHVVLQJ>3$86(@EXWWRQ3UHVV>5(&@
EXWWRQLI\RXZDQWWRUHFRUGDJDLQ
5)&DEOH
$8',29,'(2&DEOH
■<RXFDQFRQQHFWDZLGHYDULHW\RIDXGLRYLGHRHTXLSPHQWWR\RXU'9'9LGHRLQFOXGLQJDQDGGLWLRQDO9&5
/DVHU'LVF3OD\HU'9'3OD\HU&DPFRUGHU6DWHOOLWH5HFHLYHU9LGHR*DPH6LQFHDOORIWKHVHGHYLFHVXVH
HVVHQWLDOO\WKHVDPHFRQQHFWLRQVWKH\ZLOOEHGHVFULEHGWRJHWKHU
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 16
,QVWDOODWLRQ
&RQQHFWLRQZLWKDQ$QDORJ$XGLR
$8',2
$17,1387
$8',2,1387
&$87,21
&$87,21725('8&(7+(5,6.2)(/(&75,&6+2&.
'21275(029(&29(525%$&.
1286(56(59,&($%/(3$576,16,'(
5()(56(59,&,1*7248$/,),('6(59,&(35(6211(/
5,6.2)(/(&75,&6+2&.
'212723(1
69,'(2
69,'(2,1387
)52175 )5217/
5($5/
:22)(5
5($55
&(17(5
63($.(5
&20321(17287
,1
,1287
69,'(2287
:22)(5287
$8',2
$17,1
$0
)0
5)287
5
/
9,'(2
3U 3E <
,03('$1&(86(:22)(586(
&RQQHFW$XGLRMDFN&RQQHFW$8',2287 LQUHDUSDQHORI'9'9LGHRWR,QMDFNRIVWHUHRVRXQGXQLW
)RU,QSXW6HOHFWLQVWHUHRXQLW6HOHFW´([WHUQDO,QSXWµFRQQHFWHGZLWK'9'9LGHR
3OD\EDFN'9'GLVFRU+L)LYLGHRWDSH\RXFDQKHDUVRXQGLQVSHDNHURIVWHUHRXQLW
&RQQHFWLQJZLWK2WKHU(TXLSPHQW
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 17
3UHVV>'9'@EXWWRQ
,I'9'PRGHLVFRUUHFWO\VHOHFWHG'9'LQGLFDWRURQWKHIURQWSDQHOLVOLJKWHG7KHQUHPRWHFRQWUROEXWWRQZRUNVDV
'9'IXQFWLRQ3UHVVWKH>'9'@EXWWRQWKHQWKHPRGHRI'9'9LGHR3OD\HUEHFRPHVWRWKH'9'23(5$7,21PRGH
7R6HOHFW9&5
3UHVV>9&5@EXWWRQ
,I9&5PRGHLVFRUUHFWO\VHOHFWHG9+6LQGLFDWRURQWKHIURQWSDQHO LVOLJKWHG7KHQUHPRWHFRQWUROEXWWRQZRUNV
DV9&5IXQFWLRQ3UHVVWKH>9&5@EXWWRQWKHQLWEHFRPHVWRWKH9&523(5$7,21PRGH
7R6HOHFW:DWFK0RGHVRU([WHUQDO,QSXW
3UHVV>287387@EXWWRQ
:KHQHYHU\RXSUHVV>287387@EXWWRQ9&53/$<%$&.%52$'&$67,1*5(&(37,21(;7(51$/,1387DQG5$',2
LVVHOHFWHGLQRUGHU
7R6HOHFW'9'
2XWSXW6HOHFW
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 18
,QVWDOODWLRQ
&ORFN6HW
3UHVV>6(783@EXWWRQ
3UHVV>(17(5@EXWWRQWRVHOHFW&/2&.6(7
6HOHFW7LPHDQG'DWH6HWZLWK>(17(5@EXWWRQ
LQ&/2&.6(7VFUHHQ
6HWWKHFXUUHQWGDWHDQGWLPHZLWK
>…†œ√@EXWWRQRU>180%(5@
EXWWRQ
)RU'$7(6(7IROORZWKHRUGHURI0RQWK'D\
<HDUIRU7,0(6(7IROORZWKHRUGHURI+RXU
0LQXWHLQ&/2&.6(7VFUHHQ
,I&/2&.6(7LVFRPSOHWHGSUHVV
>6(783@EXWWRQ
6(783
&/2&.6(7
7,0(55(&25',1*6
&+$11(/6(7
)81&7,216
/$1*8$*(6(/(&7
0RYH 6HOHFW
(QG 6(783
(17(5
&/2&.6(7
7LPHDQG'DWH6HW
$XWR'6721
&/2&.6(7
&/2&.6(7
0RYH 6HOHFW
(QG 6(783
(17(5
0RYH ,QSXW
(QG 6(783
0RYH ,QSXW
(QG 6(783
7LPH
KKPP
'DWH
7LPH $0
'DWH 6DW
PPGG\\
■6HW79WR&+RU
■3UHVV>9&5@EXWWRQRQUHPRWHFRQWUROWRFKDQJHLQWR9&5PRGHDQGIROORZWKH
SURFHGXUHVEHORZ
23(1&/26(
±
75$&.,1*
&/($5
6(783
(17(5
2.
=220
5(&
352*5$0
0(025<
6($5&+ 68%7,7/( $8',2 6281'),(/'
5(3($7 $±% '(/$< /(9(/
087( &/.&17 799&5
79,1387
6/((3
67(3
63(('$1*/(
&+35(6(7
',63/$<
)0$0
0(18
7,7/(3%&
36&$1
,1387
9&5
32:(5
'9' 79
92/92/±
±
781,1*6($5&+
±
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 19
9&53OD\EDFN
3UHVV>√@EXWWRQWRSRZHURQ
3UHVV>9&5@EXWWRQRIUHPRWHFRQWUROWRFKDQJHLQWR9&5PRGH
,QVHUWWKHGHVLUHGWDSH
,I\RXZDQWWRSOD\EDFNLWSUHVV>3/$<@EXWWRQ
:KHQWKHRSHUDWLRQDOVWDWXVLVIOLFNHULQJRUSRRUDGMXVWLWZLWK>75$&.,1*²@
EXWWRQ
7RVWRSLWSUHVV> @EXWWRQ
)RUSDXVHSUHVV>3/$<3$86(@EXWWRQLQSOD\EDFNPRGH
,I\RXSUHVVWKLVEXWWRQRQFHPRUHLWVWDUWVSOD\EDFNDJDLQ
3UHVV>(-(&7@EXWWRQLQWKHIURQWSDUWRU>23(1&/26(@EXWWRQ
RQUHPRWHFRQWUROWRUHPRYHWKHWDSH
9DULRXV3OD\EDFN0HWKRGV
■,I\RXZDQWIDVWIRUZDUGRUUHYHUVHSOD\EDFNSUHVV>√√@RU>œœ @ EXWWRQLQ
3OD\EDFNPRGH<RXFDQZDWFKIDVWSOD\LQJUHZLQGLQJVFUHHQ
■,I\RXZDQW6WLOOSLFWXUHSUHVV>3/$<@LQ3OD\EDFNPRGH<RXFDQZDWFKWKH
GHVLUHGVFUHHQLQSDXVHVWDWXV
■,I\RXZDQWVORZPRWLRQSOD\EDFNSUHVV>√√@EXWWRQLQ3DXVHPRGH<RXFDQ
ZDWFKWKHGHVLUHGVFUHHQLQWKHVORZIRUZDUGSOD\EDFN
127(9&5GRHVQ·WKDYH6ORZ5HYHUVH3OD\EDFNIXQFWLRQ
■,I\RXZDQWWRZDWFKDVHULHVRIVFUHHQVRQHE\RQH)5$0($'9$1&(SUHVV
>√√❚@EXWWRQLQ3DXVHPRGH(DFKWLPH\RXSUHVVWKLVEXWWRQWKHSLFWXUHDGYDQFHV
RQHIUDPH
,IWKHSURGXFWZKLFK
KDVDDXWRGHWHFWRU
GHWHFWVD
FRQWDPLQDWHG
KHDGVLWVKRZVWKH
FRQGLWLRQVWRQRWLFH
WKHFRQWDPLQDWLRQRQ
VFUHHQ
,QFDVHRIWKHQRWLFH
RQVFUHHQSOHDVH
UXEWKHKHDGVZLWKD
KHDGFOHDQHU
IROORZHGE\´+RZWR
XVHDKHDGFOHDQHUµ
7R$GMXVW'LVSOD\
7KLVSURGXFWLQFOXGHVDXWRPDWLF7UDFNLQJIXQFWLRQDQGHQDEOHVXVHUVWRHQMR\FOHDU
SLFWXUHZLWKRXWDQDGGLWLRQDORSHUDWLRQ3URYLGHGWKDWWKHIROORZLQJSUREOHPVFDQEH
VROYHGE\WKHPDQXDODGMXVWPHQWZKLFKLPSURYHVGLVSOD\TXDOLW\'XULQJDXWRPDWLF
GLVSOD\DGMXVWPHQW´$GMXVWLQJ'LVSOD\µDUHGLVSOD\HGRQ79VFUHHQ
,IWKHVFUHHQLVSRRULQ3OD\EDFNPRGH
,IQRLVHVRFFXULQWKHXSSHURUORZHUSDUWRIVFUHHQLQVORZSOD\EDFNPRGH
,ISDXVHGSLFWXUHYLEUDWHVXSDQGGRZQ
8VH>75$&.,1*²@EXWWRQVRIUHPRWHFRQWUROWRDGMXVWWKHGLVSOD\VXLWDEOHIRU
ZDWFKLQJ
23(1&/26(
±
75$&.,1*
&/($5
6(783
(17(5
2.
=220
5(&
352*5$0
0(025<
6($5&+ 68%7,7/( $8',2 6281'),(/'
5(3($7 $±% '(/$< /(9(/
087( &/.&17 799&5
79,1387
6/((3
67(3
63(('$1*/(
&+35(6(7
',63/$<
)0$0
0(18
7,7/(3%&
36&$1
,1387
9&5
32:(5
'9' 79
92/92/±
±
781,1*6($5&+
±
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 20
9&5 3OD\EDFN
7R0HPRUL]H&KDQQHOV0DQXDOO\
■:KHQWKHGHVLUHGEURDGFDVWLQJILQLVKHGRU\RXZDQWWRDGGXQPHPRUL]HGFKDQQHOVRZLQJWRSRRUVLJQDOVWR
WKHPHPRU\IROORZWKHSURFHGXUHVEHORZ
3UHVV>6(783@EXWWRQDQGVHOHFW
´&+$11(/6(7µ
6HOHFW´$GG5HPRYH&KDQQHOVµ
6HOHFWWKHGHVLUHGFKDQQHODQGPHPRUL]HLW
3UHVV>180%(5@EXWWRQRIUHPRWHFRQWUROWR
VHOHFWWKHGHVLUHGFKDQQHOWRPHPRUL]H
:KHQ>√@EXWWRQLVSUHVVHG´5(029('µXQGHU
FKDQQHOQXPEHUFRQYHUWVLQWR´$''('µ
&KHFNWKHPHPRUL]HGFKDQQHO
7RFKHFNWKHPHPRUL]HGFKDQQHOSUHVV>&+XSGRZQ@EXWWRQRQUHPRWH
FRQWURO
$''5(029(&+$11(/6
&KDQQHO
LVQRZ$''('
0HPRUL]LQJ79&KDQQHOV
3UHVV>6(783@EXWWRQ
3UHVV>† @EXWWRQWRPRYH LQWR&+$11(/
6(7DQGWKHQVHOHFW&+$11(/6(7ZLWK
>(17(5@EXWWRQ
6HOHFW´$872&+$11(/6($5&+µ
3UHVV>(17(5@EXWWRQLQ&+$11(/6(7ZLQGRZ
WRVHOHFW$872&+$11(/6($5&+
6HOHFW´'HWHFW$XWRPDWLFDOO\µ
3UHVV>(17(5@EXWWRQLQ$872&+$11(/6($5&+
ZLQGRZWRGHWHFWWKHFKDQQHODXWRPDWLFDOO\
&KDQQHOQXPEHUFKDQJHVVXFFHVVLYHO\IURP
WRZKLOHRQO\EURDGFDVWLQJFKDQQHOVDUH
PHPRUL]HGDXWRPDWLFDOO\:KHQPHPRU\
SURFHVVLVFRPSOHWHGWKHORZHVWQXPEHU·VRQH
RIPHPRUL]HGFKDQQHOVLVGLVSOD\HG
3OHDVHFKHFNWKHPHPRUL]HGFKDQQHOV
7RFKHFNWKHPHPRUL]HGFKDQQHOVSUHVV>&+XSGRZQ@EXWWRQRQUHPRWH
FRQWURO
7R0HPRUL]H&KDQQHOV$XWRPDWLFDOO\
6(783
&/2&.6(7
7,0(55(&25',1*6
&+$11(/6(7
)81&7,216
/$1*8$*(6(/(&7
$872&+$11(/6($5&+
:KDWW\SHRIVLJQDODUH
\RXXVLQJ"
&DEOH79
$QWHQQD
'HWHFW$XWRPDWLFDOO\
$872&+$11(/6($5&+
1RZVFDQQLQJFKDQQHO
&+$11(/6(7
$XWR&KDQQHO6HDUFK
$GG5HPRYH&KDQQHOV
6LJQDO7\SH &$%/(
&DEOH%R[6HWXS
&KDQQHO&KDQJH &+
&+$11(/6(7
$XWR&KDQQHO6HDUFK
$GG5HPRYH&KDQQHOV
6LJQDO7\SH &$%/(
&DEOH%R[6HWXS
&KDQQHO&KDQJH &+
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 21
7R'HOHWH&KDQQHOV0DQXDOO\
■$IWHUPHPRUL]LQJDXWRPDWLFDOO\FKDQQHOVZKHQWKHVDPHEURDGFDVWLQJLVPHPRUL]HGLQPRUHWKDQWZR
FKDQQHOVRU\RXZDQWWRGHOHWHEDGO\GLVSOD\HGFKDQQHOVIROORZWKHSURFHGXUHVEHORZ
■<RXPXVWVHWWKHYLHZLQJPRGHIRU\RXU9&5FKRRVLQJHLWKHU&$%/(FDEOHV\VWHPFRQQHFWLRQRU$17(11$
DQWHQQDFRQQHFWLRQ
3UHVV>6(783@EXWWRQDQGVHOHFW
´&+$11(/6(7µ6HOHFW´$GG5HPRYH
&KDQQHOVµ
6HOHFWWKHGHVLUHGFKDQQHODQGGHOHWHLW
$''5(029(&+$11(/6
&KDQQHO
LVQRZ5(029('
0HPRUL]LQJ79&KDQQHOV
6HOHFWLQJFDEOHRUDQWHQQDYLHZLQJ
7RVHWWKHYLHZLQJPRGH
3UHVV>(17(5@WRWRJJOHWKHVHWWLQJEHWZHHQ&$%/(DQG
$17(11$LQ&+$11(/6(7VFUHHQ
:KHQWKHGHVLUHGYLHZLQJPRGHLVGLVSOD\HGSUHVV
>6(783@WZLFHWRH[LW
&+$11(/6(7
$XWR&KDQQHO6HDUFK
$GG5HPRYH&KDQQHOV
6LJQDO7\SH &$%/(
&DEOH%R[6HWXS
&KDQQHO&KDQJH &+
7R6HW&DEOH%R[
7R6HW2XWSXW&KDQQHO
3UHVV>6(783@EXWWRQDQGVHOHFW´&+$11(/
6(7µ6HOHFW´&KDQQHO&KDQJHµ
%\SUHVVLQJ>(17(5@EXWWRQVHWWKHH[FOXVLYHFKDQQHO
IRUYLGHRRQWKHGHVLUHGRQHRI&+RU&+
3UHVV>6(783@EXWWRQDQGVHOHFW
´&+$11(/6(7µ
6HOHFW´&DEOH%R[6HWXSµ
6HOHFW´&DEOH%R[&KDQQHOµ
3UHVVWKHFKDQQHOQXPEHUZKLFKPDWFKHVWRWKH
RXWSXWRIWKH&DEOH%R[WRFRQQHFWEHWZHHQ
&DEOH%R[DQGWKLVXQLW
&$%/(%2;6(783
2QZKDWFKDQQHOGR\RX
ZDQWWRUHFHLYHIURP
WKHFDEOHER["
&+$11(/6(7
$XWR&KDQQHO6HDUFK
$GG5HPRYH&KDQQHOV
6LJQDO7\SH &$%/(
&DEOH%R[6HWXS
&KDQQHO&KDQJH &+
&+$11(/6(7
$XWR&KDQQHO6HDUFK
$GG5HPRYH&KDQQHOV
6LJQDO7\SH &$%/(
&DEOH%R[6HWXS
&KDQQHO&KDQJH &+
3UHVV>180%(5@EXWWRQRIUHPRWHFRQWUROWRVHOHFWWKHGHVLUHGFKDQQHOWRGHOHWH
:KHQ>√@EXWWRQLVSUHVVHG´$''('µXQGHUWKHFKDQQHOQXPEHUFRQYHUWVLQWR
´5(029('µ
7RFKHFNWKHGHOHWHGFKDQQHOSUHVV>&+XSGRZQ@EXWWRQRQUHPRWHFRQWURO
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 22
9&5 3OD\EDFN
8VLQJDGYDQFHGIHDWXUHV
3OD\WKHWDSHDXWRPDWLFDOO\
■7KLVIHDWXUHDOORZVWKH9&5WRDXWRPDWLFDOO\VWDUWSOD\LQJZKHQ\RXLQVHUWDWDSHZLWKWKHVDIHW\WDE
UHPRYHG
3UHVV>6(783@EXWWRQDQGVHOHFW
´)81&7,216µ
0RYH LQWR´)81&7,216µZLWK>†@DQG
WKHQVHOHFWWKHGHVLUHGRQHZLWK>(17(5@
EXWWRQ
3UHVV>(17(5@WRVZLWFKEHWZHHQ21
DQG2))
6HOHFW21LI\RXZDQWDWDSHZLWKLWVVDIHW\
WDEUHPRYHGWRVWDUWSOD\LQJDXWRPDWLFDOO\
ZKHQWKHWDSHLVLQVHUWHG
6HOHFW2))LI\RXGRQRWZDQWDWDSHZLWK
LWVVDIHW\WDEUHPRYHGWRVWDUWSOD\LQJ
DXWRPDWLFDOO\
6(783
&/2&.6(7
7,0(55(&25',1*6
&+$11(/6(7
)81&7,216
/$1*8$*(6(/(&7
)81&7,216
$XWR3OD\ 21
$XWR799&5 21
,QGH[6HDUFK
*R7R6HDUFK
0RYH 6HOHFW
(QG 6(783
(17(5
0RYH 6HOHFW
(QG 6(783
(17(5
6ZLWFKWKH9&5WR79RU9&5PRGHDXWRPDWLFDOO\
■7KLVIHDWXUHFRQWUROVZKHWKHUWKH799&5VZLWFKFKDQJHVDXWRPDWLFDOO\WRWKH9&5PRGHZKHQWKH9&5LVWXUQHGRQ
3UHVV>6(783@EXWWRQDQGVHOHFW´)81&7,216µ
0RYH LQWR´)81&7,216µZLWK>†@DQGWKHQVHOHFWWKHGHVLUHGRQHZLWK
>(17(5@EXWWRQ
3UHVV>(17(5@WRVZLWFKEHWZHHQ21
DQG2))
6HOHFW21LI\RXZDQWWKH9&5WRVZLWFKWR
WKH9&5PRGHZKHQWKH9&5LVWXUQHGRQ
RUDFDVVHWWHLVLQVHUWHG7KLVRQO\DSSOLHVLI
\RXFRQQHFWWKH$17,1DQG5)287MDFNV
RI\RXU9&5DQG79DQGZDWFK\RXU9&5RQ
FKDQQHORI\RXU79
6HOHFW2))LI\RXZDQWWKH9&5WRUHPDLQ
LQWKH79PRGH7KLVLVXVHIXOLI\RXZDWFK
\RXU9&5RQWKH79·VYLGHRLQSXWDQG\RX
GRQ·WZDQW\RXUDQWHQQDFDEOHVLJQDO
LQWHUUXSWHGE\WKH9&5
)81&7,216
$XWR3OD\ 21
$XWR799&5 21
,QGH[6HDUFK
*R7R6HDUFK
0RYH 6HOHFW
(QG 6(783
(17(5
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 23
3UHVV>6(783@EXWWRQDQGVHOHFW
´)81&7,216µ
6HOHFW´,QGH[6HDUFKµ
■:KHQ\RXUHFRUGDSURJUDPVWKH9&5SODFHVDQLQGH[PDUNDWWKHVWDUWRIWKHUHFRUGLQJ7RVHDUFKIRUDQ
LQGH[PDUN
)81&7,216
$XWR3OD\ 21
$XWR799&5 21
,QGH[6HDUFK
*R7R6HDUFK
,I\RXZDQWWRVHDUFKWKURXJKDFHUWDLQQXPEHU
RILQGH[PDUNVSUHVVWZRQXPEHUEXWWRQVWR
HQWHUWKHQXPEHURIPDUNV\RXZDQWWRVHDUFK
3UHVV&/($5RQWKHUHPRWHWRFRUUHFWDQHQWU\
RU
3UHVV5(:WRVHDUFKEDFNZDUGRU))WRVHDUFK
IRUZDUG7KH9&5ZLOOORFDWH\RXULQGH[PDUN
DQGEHJLQSOD\EDFN,I\RXGLGQRWHQWHUD
VSHFLILFLQGH[QXPEHUWKH9&5ZLOOORFDWHWKH
QH[WLQGH[PDUNDQGEHJLQSOD\EDFN3UHVV
6723WRVWRSLQGH[VHDUFKLQJ
,1'(;6($5&+
3UHVV5(:RU))
WREHJLQVHDUFKLQJ
RU
(QWHUDVSHFLILF
LQGH[QXPEHU
(QG 6(783
,IWZR
UHFRUGLQJV
RYHUODSWKHLQGH[
PDUNIRUWKHVHFRQG
SURJUDPZLOOEH
HUDVHG7KHUHIRUH
ZKHQ\RXXVHWKH
LQGH[IHDWXUHWR
ILQGWKHVHFRQG
SURJUDPWKH9&5
ZLOOVNLSRYHULW
,I\RXUHFRUG
PXOWLSOHSURJUDPV
LQRQHUHFRUGLQJ
VHVVLRQWKH9&5
ZLOORQO\ILQGWKH
LQGH[PDUNWKDWZDV
SODFHGRQWKHYLGHR
FDVVHWWHWDSHZKHQ
WKHUHFRUGLQJ
VHVVLRQEHJDQ
6HDUFKLQJDFDVVHWWHWDSHIRUSURJUDPVLQGH[LQJ
3UHVV>6(783@EXWWRQDQGVHOHFW
´)81&7,216µ
6HOHFW´*R7R6HDUFKµ
■<RXFDQPDUNDVHJPHQWRIWKHYLGHRFDVVHWWHZLWKWKHWDSHFRXQWHUWKDWZLOOKHOS\RXHDVLO\ORFDWHWKH
VHJPHQWODWHU
)81&7,216
$XWR3OD\ 21
$XWR799&5 21
,QGH[6HDUFK
*R7R6HDUFK
7KHWDSHFRXQWHULVGLVSOD\HGRQWKHVFUHHQ
,QSXWWKHWDSHFRXQWHU\RXZDQWWRJRDQGSUHVV
5(:RU))WKH9&5ZLOOVHDUFKIRUWKHWLPH
FRXQWHU\RXZDQW
*2726($5&+
&XUUHQWWDSHFRXQWHULV
3UHVV5(:RU))
WRJRWR
6RPHLQGH[
PDUNVWKDWPD\
EHPLVVHGE\WKH9&5
$PDUNWRRFORVHWR
\RXUORFDWLRQRQWKH
WDSH
7KHPDUNDWWKH
EHJLQQLQJRID
UHFRUGHGVHJPHQWRI
ILYHPLQXWHVRUOHVV
7KHILUVWLQGH[PDUN
RQWKHWDSHZKHQ
\RXVWDUWDWWKH
EHJLQQLQJRIWKH
WDSH
6HDUFKLQJZLWKWKHWDSHFRXQWHUJRWRVHDUFK
8VLQJDGYDQFHGIHDWXUHV
8VH3/$<5(:RU))WRUHDFKWKHSRLQWRQWKHWDSHWKDW\RXZRXOGOLNHWRPDUNDV
3UHVV>',63/$<@EXWWRQWRGLVSOD\WKHWDSHFRXQWHURQWKHVFUHHQ
3UHVV>&/($5@EXWWRQWRUHVHWWKHWDSHFRXQWHUWR
<RXFDQFRQWLQXHWRSOD\WKHWDSHRUSHUIRUPRWKHUIXQFWLRQVZLWKWKH9&5
0DUNLQJDWDSHIRU]HURVHDUFK
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 24
9&5 3OD\EDFN
&KDQJLQJWKHRQVFUHHQPHQXODQJXDJH
3UHVV>6(783@EXWWRQDQGVHOHFW
´/$1*8$*(6(/(&7µ
6HOHFWWKHODQJXDJHDPRQJ(QJOLVK
6SDQLVKRU)UHQFKE\SUHVVLQJ>(17(5@
EXWWRQ
■<RXPD\VHOHFWWKHODQJXDJHLQZKLFK\RXZRXOGOLNHWKH9&5·VPHQXWREHGLVSOD\HG(QJOLVK6SDQLVKRU
)UHQFK
/$1*8$*(6(/(&7
6HOHFWDODQJXDJH
(QJOLVK
6SDQLVK
)UHQFK
0RYH 6HOHFW
(QG 6(783
(17(5
6(783
&/2&.6(7
7,0(55(&25',1*6
&+$11(/6(7
)81&7,216
/$1*8$*(6(/(&7
0RYH 6HOHFW
(QG 6(783
(17(5
'LVSOD\26'
3UHVV>',63/$<@EXWWRQWRGLVSOD\WKHWDSHFRXQWHUFORFNDQGVWDWXVPRGHRQWKH
79VFUHHQ
$QGE\RQHPRUHSUHVVLQJ>',63/$<@EXWWRQEHIRUHGLVDSSHDULQJWKH26'IURPWKH
VFUHHQRQO\WKHWDSHFRXQWHUZLOOUHPDLQRQWKHVFUHHQ
3UHVV>6(783@EXWWRQDQGVHOHFW´&/2&.6(7µ
0RYH LQWR´$XWR'67µZLWK>†@
3UHVV>(17(5@WRVZLWFKEHWZHHQ21
DQG2))
6HOHFW21LI\RXZDQWWKH9&5·VFORFNWR
DXWRPDWLFDOO\DGMXVWIRUGD\OLJKWVDYLQJ
WLPH
6HOHFW2))LI\RXGRQRWZDQWWKH9&5·V
FORFNWRDGMXVWIRUGD\OLJKWVDYLQJWLPH
635,1*)RUZDUG)DOO%DFNZDUG
,QWKH6SULQJGD\OLJKWVDYLQJWLPHEHJLQVRQWKHILUVW6XQGD\LQ$SULO%HFDXVHWKHFORFN
DXWRPDWLFDOO\FKDQJHVIURP$0WR$0IRUZDUGRQHKRXUUHPHPEHUWRLQFOXGHWKH
H[WUDKRXUIRUWLPHUUHFRUGLQJIDOOLQJZLWKLQWKLVWLPHIUDPH
,QWKH$XWXPQGD\OLJKWVDYLQJWLPHHQGVRQWKHODVW6XQGD\LQ2FWREHU
7KH9&5FORFNDXWRPDWLFDOO\FKDQJHVIURP$0WR$0EDFNRQHKRXU7KHUHIRUHLWFDQ
DIIHFW\RXUUHFRUGLQJOHQJWK
'D\OLJKW6DYLQJ7LPH
&/2&.6(7
7LPHDQG'DWH6HW
$XWR'6721
0RYH 6HOHFW
(QG 6(783
(17(5
8VLQJDGYDQFHGIHDWXUHV
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 25
+L)L6WHUHR3OD\EDFN+L)L0RGHORQO\
3OD\LQJDWDSHLQ+L)LKLJKTXDOLW\
´+L)LµVLJQDOOLJKWVXSLQWKHWRSRIDVFUHHQ
3UHVVLQJ>$8',2@EXWWRQFKDQJHVPHQXVRQHE\RQH
,IWKHUHDUHVRPHQRLVHVPDGHLQUHFRUGLQJSOHDVH´/LQHDUµWRUHGXFHWKHP
)RUFHG0RQR
5HFRUGLQJ6WHUHRRU6HFRQGDU\$XGLR3URJUDPV6$3
,QVRPHFDVHVZKLOHUHFHLYLQJDVWHUHRRU6$36HFRQGDU\$XGLR3URJUDPVUHFHLYLQJFRQGLWLRQPD\EHSRRU
ZKLFKPD\FDXVHWKHVWHUHRRU6$3EURDGFDVWLQJWREHLQWHUIHUHGIUHTXHQWO\RULWVYROXPHWREH
XQFRQWUROODEOH-XVWSUHVVLQJ>$8',2@LQVWHUHRRU6$3IRUFHVWRIL[WKHFRQGLWLRQLQWRPRQRVRXQG
7RUHWXUQLW\RXKDYHWZRFKRLFHVSUHVVLQJ>$8',2@EXWWRQDJDLQRUSLFNLQJXSWKHFKDQQHODJDLQ
+L)L /,1($5 0,;
67(5(2 0212 6$3
3URJUDPVDUHEURDGFDVWLQPRQRRUVWHUHRDXGLRRUZLWKD6$3
3UHVVLQJ>$8',2@EXWWRQFKDQJHV67(5(202126$3RQHE\RQH
:KLOHUHFRUGLQJLQVWHUHRVLJQDOLWLVUHFRUGHGLQ+L)L
6$3LVDYDLODEOHRQO\LQLWVVHUYLFHDUHDVIURPVWDWLRQV
7KHIROORZLQJJXLGHOLQHVZLOOKHOS\RXGHFLGHRQWKHEHVWPHWKRGIRUUHFRUGLQJSURJUDPV&KRRVH
6WHUHRUHFHSWLRQIRUQRUPDOUHFRUGLQJDQGWRUHFRUGEURDGFDVWVWHUHRWHOHYLVLRQ
0RQRUHFHSWLRQLIWKHVWHUHRVLJQDOLVZHDNDQGVRXQGLVWRR´QRLV\µ
6$3UHFHSWLRQWRUHFRUGDVHFRQGDXGLRSURJUDP$QH[DPSOHRID6$3LVDSURJUDPWKDWLVEURDGFDVWLQ(QJOLVK
EXWKDVD6SDQLVK6$3
<RXFDQRQO\UHFRUGVWHUHRDQG6$3VLIWKHSURJUDPLVDEURDGFDVWLQVWHUHRRUZLWKD6$3&RQVXOWDWHOHYLVLRQ
JXLGHIRUSURJUDPEURDGFDVWLQIRUPDWLRQ
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 26
9&5 3OD\EDFN '9' 6HWXS
'9'LQLWLDOVHWWLQJ
',63/$<6HWXS
:KLOH6723RU5(680(6723SUHVV
>6(783@EXWWRQ
%\SUHVVLQJ>œ√@EXWWRQVHOHFW´'LVSOD\µ
6HOHFW´$VSHFW5DWLRµE\SUHVVLQJ
>…†@EXWWRQ
3UHVV>(17(5@EXWWRQWRVHOHFWWKHGHVLUHG
VHWWLQJ
,IDXVHUVHOHFWV´3DQ6FDQµWKHXVHU
FDQZDWFKRQO\DFHQWHURIWKHRULJLQDOVFHQH
RI´µ
■$XVHUFDQVHWXSDFRQQHFWHG79FRQGLWLRQDQGVFUHHQ
6HOHFW´2XWSXW)RUPDWµE\SUHVVLQJ
>…†@EXWWRQ
$XVHUPD\VHOHFWD´2XWSXW)RUPDWµDPRQJ
3URJUHVVLYH&RPSRQHQWDQG69LGHR
6HOHFW´6FUHHQ6DYHUµE\SUHVVLQJ
>…†@EXWWRQ
3UHVV>(17(5@EXWWRQWRVHOHFWWKHGHVLUHG
VHWWLQJ
,IEULJKWVFHQHVFRQWLQXHWREHGLVSOD\HGLQ
VFUHHQ79FDQEHGDPDJHG6HWWKHVFUHHQVDYHU
WR2QWKHVFUHHQVDYHUIXQFWLRQVDXWRPDWLFDOO\
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
$VSHFW5DWLR :LGHVFUHHQ
6FUHHQ0HVVDJH 2Q
6FUHHQ6DYHU 2II
2XWSXW)RUPDW 69LGHR
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
$VSHFW5DWLR :LGHVFUHHQ
6FUHHQ0HVVDJH 2Q
6FUHHQ6DYHU 2II
2XWSXW)RUPDW 69LGHR
!:LGHVFUHHQ
/HWWHU%R[
3DQ6FDQ
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
$VSHFW5DWLR :LGHVFUHHQ
6FUHHQ0HVVDJH 2Q
6FUHHQ6DYHU 2II
2XWSXW)RUPDW 69LGHR
2II
!2Q
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
$VSHFW5DWLR :LGHVFUHHQ
6FUHHQ0HVVDJH 2Q
6FUHHQ6DYHU 2II
2XWSXW)RUPDW 69LGHR
2II
!2Q
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
$VSHFW5DWLR :LGHVFUHHQ
6FUHHQ0HVVDJH 2Q
6FUHHQ6DYHU 2II
2XWSXW)RUPDW 69LGHR
3URJUHVVLYH
&RPSRQHQW
!69LGHR
,IDXVHUVHOHFWV´/HWWHUER[µWKHXVHUFDQZDWFKWKHRULJLQDOVFHQHRI
´µEXWWKHWRSDQGERWWRPRIWKHVFUHHQORRNEODFNFRORU
,IDGLVFVL]HLVRULJLQDOO\UHFRUGHGLQDXVHUFDQQRWZDWFKLWLQDZLGH
VFUHHQWKRXJKDXVHUVHWVDVL]HDV´:LGHVFUHHQµ
6HOHFW´6FUHHQ0HVVDJHµE\SUHVVLQJ
>…†@EXWWRQ
3UHVV>(17(5@EXWWRQWRVHOHFWWKHGHVLUHG
VHWWLQJ
6HOHFW2QWRPDNH26'2Q6FUHHQ'LVSOD\
ODQJXDJHGLVSOD\HGLQVFUHHQ
DQG'9'ORJRPRYHVFRQWLQXRXVO\LIWKHUHVXPHVWRSVWRSRSHQVWDWXVLV
PDLQWDLQHGIRUDERXWPLQXWHV
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 27
$8',26HWXS
6HOHFW´'\QDPLF5DQJHµE\SUHVVLQJ
>…†@EXWWRQ
<RXFDQVHWIROORZLQJYDOXHVRI'\QDPLF
5DQJH
2II<RXFDQKHDUWKHVDPHVRXQGDV
UHFRUGHGLQGLVF
2Q<RXFDQKHDUORXGVRXQGVRIWHUDQG
VRIWVRXQGORXGHU
■$XVHUPD\VHOHFWDXGLRPHQXDFFRUGLQJWRDXVHU·VVSHDNHUVHW
:KLOH6723RU5HVXPH6723SUHVV
>6(783@EXWWRQ
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
'\QDPLF5DQJH
2Q
6SHDNHU&RQILJXUDWLRQ
&RQILJXUH
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
'\QDPLF5DQJH
2Q
6SHDNHU&RQILJXUDWLRQ
&RQILJXUH
2II
!2Q
'9'LQLWLDOVHWWLQJ
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 28
'9' 6HWXS
6HOHFW´6SHDNHU&RQILJXUDWLRQµE\
SUHVVLQJ>…†@EXWWRQ
3UHVV>(17(5@EXWWRQWRHQWHULQWR6SHDNHU
6HWXSVFUHHQ
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
'\QDPLF5DQJH
2Q
6SHDNHU&RQILJXUDWLRQ
&RQILJXUH
Speaker Setup
/()7
6SHDNHU&RQILJXUDWLRQ'HIDXOW
7\SH 6PDOO
/HYHO G%
'HOD\ PV
&(17(5
7\SH 6PDOO
/HYHO G%
'HOD\ PV
5,*+7
/6855 /)( 56855
7\SH /DUJH
/HYHO G%
'HOD\ PV
7\SH 6PDOO
/HYHO G%
'HOD\ PV
7\SH 6PDOO
/HYHO G%
'HOD\ PV
7\SH
2Q/3)2Q
/HYHO G%
'HOD\ PV
'9'LQLWLDOVHWWLQJ
8VH … † œ √ WRVHOHFWDVSHDNHU3UHVV√WRKHDUDWRQH
8VHœœ √√ WRDGMXVWJDLQ8VH❚œœ √√❚WRDGMXVWGHOD\
Speaker Setup
/()7
6SHDNHU&RQILJXUDWLRQ'HIDXOW
7\SH 6PDOO
/HYHO G%
'HOD\ PV
&(17(5
7\SH 6PDOO
/HYHO G%
'HOD\ PV
5,*+7
/6855 /)( 56855
7\SH /DUJH
/HYHO G%
'HOD\ PV
7\SH 6PDOO
/HYHO G%
'HOD\ PV
7\SH 6PDOO
/HYHO G%
'HOD\ PV
7\SH
2Q/3)2Q
/HYHO G%
'HOD\ PV
8VH … † œ √ WRVHOHFWDVSHDNHU3UHVV√WRKHDUDWRQH
8VHœœ √√ WRDGMXVWJDLQ8VH❚œœ √√❚WRDGMXVWGHOD\
! 'HIDXOW
&RQILJXUDWLRQ
&RQILJXUDWLRQ
&RQILJXUDWLRQ
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 29
5$7,1*66HWXS
(QWHULQJD1(:SDVVZRUG
,QSXWSDVVZRUGGLVSOD\DSSHDUV
(QWHUDXVHU·VSDVVZRUGE\SUHVVLQJ>'LJLW@
EXWWRQV
6HOHFW´/LPLWVµE\SUHVVLQJ>…†@
EXWWRQ
3UHVV>(17(5@EXWWRQWRVHOHFWWKHGHVLUHG
VHWWLQJ
7KHQLQSXWSDVVZRUGWRHQWHULQWRUDWLQJV
VFUHHQ
,WFRQVLVWVRIOHYHOVRISDUHQWDOFRQWUROYLROHQFH
VH[XDOVFHQHVWURQJVH[XDOVFHQHDQGRWKHUVWR
SURWHFWFKLOGUHQIURPZDWFKLQJWKRVHVFHQHV
:KLOH6723RU5(680(6723SUHVV
>6(783@EXWWRQ
´3DUHQWDO/RFNµ
DFWLYDWHVRQO\LI
\RXVHWDSDVVZRUG
DQGWKHXQLWJRHV
LQWR/RFNVWDWXV
:KHQWKHGLVFKDVQR
SDUHQWDOIXQFWLRQ
HYHQLIWKHGLVFIRU
DGXOWRQO\3DUHQWDO
/RFNGRHVQ·WDFWLYDWH
7KHLQLWLDO
SDVVZRUGLV
,QFDVH\RX
IRUJHWQHZO\LQSXW
SDVVZRUG\RXFDQXVH
DVDSDVVZRUG
'9'LQLWLDOVHWWLQJ
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
3DVVZRUG 8QDVVLJQHG
3DUHQWDO $'8/7
5HJLRQ 5HJLRQSOD\HU
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
3DVVZRUG
3DVVZRUG 8QDVVLJQHG
8QDVVLJQHG
/LPLWV 1R/LPLW
(QWHU1(:SDVVZRUG
²²²²²
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
3DVVZRUG
3DVVZRUG 8QDVVLJQHG
8QDVVLJQHG
/LPLWV 1R/LPLW
(QWHUSDVVZRUG
²²²²²
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
3DVVZRUG 8QDVVLJQHG
3DUHQWDO $'8/7
5HJLRQ 5HJLRQSOD\HU
*
3*
3*
3*5
1&
! $'8/7
6HOHFW´5HJLRQµE\SUHVVLQJ>…†@
EXWWRQ
3UHVV>(17(5@EXWWRQWRVHOHFWWKHGHVLUHG
VHWWLQJ
6HOHFW´5HJLRQSOD\HUµDV\RXUUHJLRQFRGH
LV
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
3DVVZRUG 8QDVVLJQHG
3DUHQWDO $'8/7
5HJLRQ 5HJLRQSOD\HU
$OO5HJLRQSOD\HU
! 5HJLRQSOD\HU
5HJLRQSOD\HU
5HJLRQSOD\HU
5HJLRQSOD\HU
5HJLRQSOD\HU
5HJLRQSOD\HU
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 30
'9' 6HWXS
/$1*8$*(6HWXS
:KLOH6723RU5(680(6723SUHVV
>6(783@EXWWRQ
6HOHFW´2Q6FUHHQ'LVSOD\µE\
SUHVVLQJ>…†@EXWWRQ
3OHDVHVHOHFWDODQJXDJHWREHGLVSOD\HGRQ'9'
VFUHHQ
6HOHFW´$XGLRµE\SUHVVLQJ>…†@
EXWWRQ
6HWLWDVWKHSUHIHUUHGDXGLRODQJXDJH,QFDVH
WKHDXGLRODQJXDJHLVVHWDQGUHFRUGHGLQWKH
',6&LWLVDXWRPDWLFDOO\SOD\HGLQWKHVHW
ODQJXDJHLQHYHU\SOD\LQJ
6HOHFW´6XEWLWOHµE\SUHVVLQJ>…†@
EXWWRQ
3OHDVHVHWLWDVWKHSUHIHUUHGODQJXDJH,QFDVH
WKHVXEWLWOHODQJXDJHLVVHWDQGUHFRUGHGLQWKH
',6&LWLVDXWRPDWLFDOO\SOD\HGLQWKHVHW
ODQJXDJHLQHYHU\SOD\LQJ
6HOHFW´'9'0HQXµE\SUHVVLQJ>…†@
EXWWRQ
3OHDVHVHWLWDVWKHSUHIHUUHG',6&0(18
ODQJXDJH,QFDVHWKH',6&0(18ODQJXDJHLVVHW
DQGUHFRUGHGLQWKH',6&LWLVDXWRPDWLFDOO\
SOD\HGLQWKHVHWODQJXDJHLQHYHU\SOD\LQJ
■$XVHUFDQVHW26'ODQJXDJH$XGLR6XEWLWOHDQG'LVF0HQX
,QFDVHDGLVF
GRHVQRWLQFOXGH
VHWWLQJODQJXDJHV
LQIRUPDWLRQWKH
VHOHFWHGODQJXDJH
GRHVQRWDSSHDU
´26'µPHDQV
´2Q6FUHHQ'LVSOD\µ
'9'LQLWLDOVHWWLQJ
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
$XGLR (QJOLVK
6XEWLWOH (QJOLVK
'9'0HQX (QJOLVK
2Q6FUHHQ'LVSOD\ (QJOLVK
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
$XGLR (QJOLVK
6XEWLWOH (QJOLVK
'9'0HQX (QJOLVK
2Q6FUHHQ'LVSOD\ (QJOLVK
'HIDXOW
!(QJOLVK
)UHQFK
&KLQHVH
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
$XGLR (QJOLVK
6XEWLWOH (QJOLVK
'9'0HQX (QJOLVK
2Q6FUHHQ'LVSOD\ (QJOLVK
'HIDXOW
!(QJOLVK
)UHQFK
&KLQHVH
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
$XGLR (QJOLVK
6XEWLWOH (QJOLVK
'9'0HQX (QJOLVK
2Q6FUHHQ'LVSOD\ (QJOLVK
'HIDXOW
!(QJOLVK
)UHQFK
&KLQHVH
$XGLR'LVSOD\ 5DWLQJV
/DQJXDJH
2WKHU
$XGLR (QJOLVK
6XEWLWOH (QJOLVK
'9'0HQX (QJOLVK
2Q6FUHHQ'LVSOD\
(QJOLVK
'HIDXOW
!(QJOLVK
)UHQFK
&KLQHVH
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 31
'9'3OD\EDFN
3UHVV>√@EXWWRQWRSRZHURQ
3UHVV>'9'@EXWWRQRIUHPRWHFRQWUROWRFKDQJHLQWR'9'PRGH
3UHVV>23(1&/26(@EXWWRQWRRSHQWKHGLVFWUD\
3ODFHDGLVFILUPO\RQWKHGLVFWUD\PDNLQJLWVODEHOORRNXSZDUG
,QVHUWWKHGLVFDQGSUHVV>23(1&/26(@EXWWRQWRFORVHWKHWUD\
7KHGLVFWUD\LVFORVHGDQGDIWHUFKHFNLQJWKHGLVF·VFRQGLWLRQ3OD\EDFNRU6WRS
IXQFWLRQVWDUWVWRRSHUDWH
7RSOD\EDFNLWSUHVV>3/$<3$86(@EXWWRQ
,QWKHFDVHRI'9'
'9'PHQXVDQGWLWOHVDUHGLVSOD\HGRQ79VFUHHQ
,QWKHFDVHRI69&'DQG9&'
WKHPHQXVDUHGLVSOD\HGRQ79VFUHHQDQGLWLVFRQYHUWHGLQWR3%&
3OD\EDFN%DFN&RQWUROPRGH
,QWKHFDVHRI&'9&'DQG03
WKHGLVFSOD\VLQRUGHURILWVWUDFNQXPEHUV
&' 03
7RVWRSLWSUHVV> @EXWWRQ
)RUSDXVHSUHVV>3/$<3$86(@EXWWRQLQSOD\EDFNPRGH
,I\RXSUHVVWKLVEXWWRQRQFHPRUHLWVWDUWVSOD\EDFNDJDLQ
3UHVV>23(1&/26(@EXWWRQWRUHPRYHWKHGLVF
23(1&/26(
±
75$&.,1*
&/($5
6(783
(17(5
2.
=220
5(&
352*5$0
0(025<
6($5&+ 68%7,7/( $8',2 6281'),(/'
5(3($7 $±% '(/$< /(9(/
087( &/.&17 799&5
79,1387
6/((3
67(3
63(('$1*/(
&+35(6(7
',63/$<
)0$0
0(18
7,7/(3%&
36&$1
,1387
9&5
32:(5
'9' 79
92/92/±
±
781,1*6($5&+
±
,I\RXSUHVVQR
EXWWRQLQPLQXWHV
DIWHU\RXDUHRSHQHG
WKHWUD\WKHSOD\HU
FORVHVWKHWUD\
DXWRPDWLFDOO\WR
SUHYHQWIURP
GDPDJH
7UDFN/LVW
! 7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
8VH83'2:1DUURZVWRILQGDWUDFN
3UHVV(17(5WRSOD\DWUDFN
&' 7(
†
7UDFN/LVW
!
&'
$7UDFNPS
$7UDFNPS
$7UDFNPS
$7UDFNPS
$7UDFNPS
$7UDFNPS
$7UDFNPS
$7UDFNPS
8VH83'2:1DUURZVWRILQGDWUDFN
3UHVV(17(5WRSOD\DWUDFN
&'
03 7(
†
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 32
'9' 3OD\EDFN
9DULRXV3OD\EDFN0HWKRGV
■,I\RXZDQWIDVWRUUHYHUVHSOD\EDFN SUHVV>√√@RU>œœ @EXWWRQLQ3OD\EDFNPRGH
<RXFDQZDWFKIDVWSOD\LQJUHYHUVHVFUHHQ
7KLVUHYHUVHSOD\EDFNFDQEHXQDYDLODEOHIRUFHUWDLQ'9'8QDYDLODEOHIRU03
■,I\RXZDQWVORZRUUHYHUVHSOD\EDFN SUHVV>√√@RU>œœ @EXWWRQLQ3DXVHPRGH
<RXFDQZDWFKWKHGHVLUHGVFUHHQLQWKHVORZIRUZDUGUHYHUVHSOD\EDFN
)RUWKHFDVHRI9LGHR&'WKLVUHYHUVHVORZSOD\EDFNIXQFWLRQLVXQDYDLODEOH7KH PDUN
ZLOODSSHDU
■,I\RXZDQWVWLOOSLFWXUH SUHVV>3$86(@EXWWRQLQ3OD\EDFNPRGH<RXFDQZDWFKWKH
GHVLUHGVFUHHQLQ3DXVHVWDWXV
'9'3OD\EDFN
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 33
3OD\LQJDGHVLUHGVFHQH
7RVNLSVFHQHVLQDGLVF
7RPRYHWRQH[WFKDSWHURUWUDFNSUHVV>1(;7√√❚@EXWWRQ
7KHFXUUHQWFKDSWHURUWUDFNPRYHVWRWKHQH[WFKDSWHURUWUDFN
3UHVV>❚œœ 35(9@EXWWRQ
7KHFXUUHQWVFHQHPRYHVWRWKHSUHYLRXVFKDSWHURUWUDFNRUILUVWVFHQHRIFXUUHQW
FKDSWHURUWUDFN
3UHVVWKH>7,7/(3%&@RU>0(18@
EXWWRQ
$OLVWRIWKHWLWOHVRQWKHGLVFLVGLVSOD\HG
)RUWKHFDVHRI9&'GLVFPHQXVFUHHQZLOODSSHDU
RQO\ZKHQWKHGLVFKDV3%&IXQFWLRQDQG3%&21
LVDFWLYDWHG
3UHVVWKH>(17(5@EXWWRQRU>3/$<@
EXWWRQDIWHUSUHVVLQJWKH> @
EXWWRQWRVHOHFWWKHGHVLUHGWLWOH
7KHVHOHFWHGWLWOHQRZVWDUWVSOD\LQJ
■6RPHPRYLHGLVFVPD\FRQWDLQPXOWLSOHWLWOHV,IWKHGLVFKDVDPRYLHWLWOHPHQXUHFRUGHGRQLWWKH>7,7/(@
EXWWRQFDQEHXVHGWRVHOHFWWKHPRYLHWLWOH'HWDLOVRIRSHUDWLRQPD\GLIIHUGHSHQGLQJRQWKHGLVFXVHG
6HOHFWLQJDWLWOHPD\QRWEHDYDLODEOHRQFHUWDLQ'9'GLVFV
'9'9&'9&'&'03
'9'
'LUHFWO\PRYLQJWRDGHVLUHGWLWOH'9'
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 34
'9' 3OD\EDFN
3OD\LQJDGHVLUHGVFHQH
:KLOH6723SUHVV>352*5$0@EXWWRQ
:KLOHWKHULJKWILJXUHLVDSSHDULQJSOHDVHVHOHFW
GHVLUHGWUDFNE\SUHVVLQJ>…†@DQG>(17(5@
EXWWRQ
$IWHUFRPSOHWLQJVHWWLQJSUHVV>3/$<@EXWWRQ
7KHQWLWOHVDQGFKDSWHUVWUDFNDUHSOD\HGLQWKHDERYHSURJUDPPHGRUGHU
7RH[LWIURP3URJUDP3OD\PRGHSUHVVWKH>6(783@EXWWRQLQ3URJUDPPHQX
VFUHHQ
5HSHDWLQJDGHILQHGSHULRG
(DFKWLPH\RXSUHVV>5(3($7@EXWWRQLQSOD\EDFNPRGHUHSHDW
SOD\EDFNVWDUWVDVEHORZ
'9'9&'&'
3OD\LQJDSURJUDPPHGRUGHU
'9'9&'&'03
&'3OD\OLVW
! 7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
7UDFN
3OD\
&OHDU$OO
8VH83'2:1DUURZVWRILQGDWUDFN
3UHVV6(/(&7WRDGGUHPRYHIURPSOD\OLVW
8VH/()75,*+7DUURZVWRVHOHFWDEXWWRQRUOLVW
&KDSWHU&XUUHQWFKDSWHUZLOOEHUHSHDWHGO\SOD\EDFN
7LWOH&XUUHQWWLWOHZLOOEHUHSHDWHGO\SOD\EDFN
7UDFN&XUUHQWWUDFNZLOOEHUHSHDWHGO\SOD\EDFN
'LVF&XUUHQWGLVFZLOOEHUHSHDWHGO\SOD\EDFN
5DQGRP7UDFNVLQWKHGLVFZLOOEHSOD\EDFNLQUDQGRPRUGHU
)ROGHU&XUUHQWIROGHUZLOOEHUHSHDWHGO\SOD\EDFN
2II5HSHDWSOD\EDFNZLOOEHFDQFHOOHG
'9'
2II
&KDSWHU
7LWOH
➝➝
'LVF
➝
➝
&'
2II
7UDFN
'LVF
➝➝
➝
†
&'3OD\OLVW
! 7UDFN
7UDFN
! 7UDFN
3OD\ 7UDFN
7UDFN
7UDFN
! 7UDFN
&OHDU$OO
8VH83'2:1DUURZVWRILQGDWUDFN
3UHVV6(/(&7WRDGGUHPRYHIURPSOD\OLVW
8VH/()75,*+7DUURZVWRVHOHFWDEXWWRQRUOLVW
…
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 35
3OD\LQJDGHVLUHGVFHQH
6HDUFKLQJ'9'ZLWKDWLWOHQXPEHUDFKDSWHUQXPEHURUDWLPH
,I\RXZDQWWRVHDUFKZLWKDWLWOH
QXPEHUSUHVV>6($5&+@EXWWRQRQH
WLPH
,WVKRZVWRWDOWLWOHQXPEHUVFKDSWHUQXPEHUVDQG
WLPHV 3OHDVHHQWHUWKHQHZWLWOHQXPEHUWREH
VHDUFKHGXVLQJWKH>180%(5@RU>…†@EXWWRQV
,I\RXZDQWWRVHDUFKZLWKDWLPH
SUHVV>6($5&+@EXWWRQWKUHHWLPHV
3OHDVHHQWHUWKHQHZWLPHWREHVHDUFKHGXVLQJ
WKH>180%(5@EXWWRQV
,I\RXZDQWWRVHDUFKZLWKDFKDSWHU
QXPEHUSUHVV>6($5&+@EXWWRQ
WZLFH
3OHDVHHQWHUWKHQHZFKDSWHUQXPEHUWREH
VHDUFKHGXVLQJWKH>180%(5@RU>…†@EXWWRQV
'9'
■<RXPD\UHSHDWDGHILQHGSHULRGIURP$WR%
$WWKHSRLQWZKHUH\RXZDQWWRVWDUW
WKHUHSHDWSOD\EDFNSUHVV>$%@
EXWWRQ
7KHULJKWILJXUHDSSHDUVDQGUHSHDWSOD\EDFNVWDUW
SRVLWLRQ$LVVHW
$WWKHSRLQWZKHUH\RXZDQWWRHQG
WKHUHSHDWSOD\EDFNSUHVV>$%@
EXWWRQDJDLQ
7KHUHSHDWSOD\EDFNHQGSRVLWLRQ%LVVHWDQGD
GHILQHGSHULRGIURP$WR%LVSOD\EDFNUHSHDWHGO\
7RH[LWIURPUHSHDWSOD\EDFNPRGHSUHVV>$%@EXWWRQ
,WHQWHUVLQWR1RUPDO3OD\EDFNPRGH
,QFRPSOHWLQJHQWHULQJSOHDVHSUHVV>(17(5@EXWWRQ
3/$<VWDUWVIURPWKHVHOHFWHGSRVLWLRQ
$03GLVFPD\
QRWEHUHSHDWHGIURP
$WR%
'9'9&'&'
5HSHDWLQJDGHILQHGSHULRGIURP$WR%
%
$
$
%
7
BB
&
7
&
BB
7
&
BB
BB
B
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 36
'9' 3OD\EDFN
,I\RXZDQWWRVHDUFKZLWKDWLPH
SUHVV>6($5&+@EXWWRQRQHWLPH
,QFDVHRI3%&2))WKHVFUHHQOLNHWKHULJKWILJXUH
DSSHDUV3OHDVHHQWHUWKHQHZWLPHWREH
VHDUFKHGXVLQJWKH>180%(5@EXWWRQ
,QFRPSOHWLQJHQWHULQJSOHDVHSUHVV>(17(5@
3/$<VWDUWVIURPWKHVHOHFWHGSRVLWLRQ
,QFDVHRI03SUHVV>6($5&+@EXWWRQRQHWLPH:KHQLWVKRZVWUDFN SOHDVHHQWHUWKH
WUDFNQXPEHU
,I\RXZDQWWRVHDUFKZLWKDWUDFN
WLPHSUHVV>6($5&+@EXWWRQWZLFH
,QFDVHRI3%&2))WKHVFUHHQOLNHWKHULJKWILJXUH
DSSHDUV,WVKRZVFXUUHQWWUDFN·VWLPHDQGWKH
ZKROHGLVF·VKRXUV3OHDVHHQWHUWKHQHZWUDFN
WLPHWREHVHDUFKHGXVLQJWKH>180%(5@EXWWRQ
,ILWLV3%&2))RQO\WKHWUDFN·VWLPHDSSHDUV
,ILWLV3%&21SUHVVLQJWKHWLPHQXPEHUFRQYHUWV3%&WR2))PRGHDXWRPDWLFDOO\
9&'&'
6HDUFKLQJ9&'DQG&'ZLWKDWUDFNQXPEHURUWLPH
3OD\LQJDGHVLUHGVFHQH
7
BB
7
BB
BB
B
DV8T911N-QJ 03.4.15 5:17 AM ˘ ` 37
&RQILUPLQJWKHFXUUHQW'9'GLVFPRGH
:KLOHLQSOD\LQJSUHVV>',63/$<@
EXWWRQ
,WVKRZVWKHFXUUHQWWLWOHFXUUHQWFKDSWHUDQG
WLPHHODSVHG
3UHVV>',63/$<@EXWWRQDJDLQ
,WVKRZVWKHDXGLRVHOHFWHG
:KLOHLQSOD\LQJSUHVV>',63/$<@EXWWRQ
,WVKRZVWKHFXUUHQWWUDFNDXGLRVHOHFWHGUHSHDWSOD\EDFN
PRGHDQGWLPHHODSVHG
7RH[LWIURP'LVSOD\PRGHSUHVV>',63/$<@EXWWRQ
DJDLQ
'9'
9&'&'
&RQILUPLQJWKHFXUUHQW9&'&'GLVFPRGH
7
&
7
6WHUHR
$&&K(QJOLVK
3UHVV>',63/$<@EXWWRQDJDLQ
,WVKRZVWKHVXEWLWOHVHOHFWHGDQGUHSHDWSOD\EDFN
PRGH
7RH[LWIURP'LVSOD\PRGHSUHVV>',63/$<@
EXWWRQDJDLQ
6XEWLWOHV2II 5DQGRP
7
1RUPDO
2II
3%& 3%&2Q
&RQILUPLQJWKHFXUUHQW3/$<PRGHRQVFUHHQ
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 38
'9' 3OD\EDFN
'LVSOD\VFUHHQDSSHDUVDXWRPDWLFDOO\
LQ3OD\EDFNPRGH
,WVKRZVWKH03)LOHLQIRUPDWLRQLQGLVFWKH
GLUHFWRU\03)LOHQDPHDQGGLUHFWRU\OLVW
:LWK> @EXWWRQV\RXFDQPRYHWKH
FXUVRUWRGLUHFWRU\RUQXPEHURI030XVLF
)LOH7RJRWRGHVLUHGGLUHFWRU\RUWRSOD\EDFN
03)LOHSUHVV>(17(5@NH\
7KHLQIRUPDWLRQRI03)LOHPHDQVWKHGLVFW\SH
FXUUHQWWUDFN%LWUDWHUHSHDWSOD\EDFNPRGHWLPH
HODSVHGDQGHTXDOL]HUEDU
$WWKHGHVLUHGGLUHFWRU\SRVLWLRQSUHVV>(17(5@EXWWRQ
,WVKRZVWKHWUDFNOLVW
03
&RQILUPLQJWKHFXUUHQW03GLVFPRGH
&RQILUPLQJWKHFXUUHQW3/$<PRGHRQVFUHHQ
7UDFN/LVW
!
&'
$7UDFNPS
$7UDFNPS
$7UDFNPS
$7UDFNPS
$7UDFNPS
$7UDFNPS
$7UDFNPS
$7UDFNPS
8VH83'2:1DUURZVWRILQGDWUDFN
3UHVV(17(5WRSOD\DWUDFN
&'
03 7(
†
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 39
6HOHFWLQJDQDXGLRODQJXDJH
$8',2ODQJXDJH68%7,7/(ODQJXDJHDQG'$8',2
■7KHXVHUPD\VHOHFWDQDXGLRODQJXDJHDQGVXEWLWOHODQJXDJHLIDGLVFLQFOXGHV0XOWLODQJXDJH
.HHSSUHVVLQJ>$8',2@EXWWRQWLOOWKHXVHU·V
SUHIHUUHGODQJXDJHDSSHDUV
,I'9'GLVFLQFOXGHVDXGLRLQIRUPDWLRQHYHU\WLPHWKH
XVHUSUHVVHV>$8',2@EXWWRQ(QJOLVK(1*)UHQFK)5(
6SDQLVK63$DQGRWKHUVDSSHDURQHE\RQH
.HHSSUHVVLQJ>68%7,7/(@EXWWRQWLOOWKH
XVHU·VSUHIHUUHGODQJXDJHDSSHDUV
,ID'9'GLVFLQFOXGHVVXEWLWOHLQIRUPDWLRQHYHU\WLPH
WKHXVHUSUHVVHV>68%7,7/(@EXWWRQ(QJOLVK(1*
)UHQFK)5(6SDQLVK63$DQGRWKHUVDSSHDURQHE\
RQH
$FHUWDLQGLVF
PD\QRWVXSSRUW
DXGLRVHOHFWRU
VXEWLWOHVHOHFW
(DFKWLPH\RXSUHVV>6281'),(/'@EXWWRQLQSOD\EDFNPRGHVRXQG
ILHOGVFDQEHVHWDVEHORZ
'9'PRGH
'9' 2))➝352/2*,&,,➝029,(➝086,&➝0$75,;➝656➝2))
9&' 2))➝352/2*,&,,➝029,(➝086,&➝0$75,;➝2))
&'03 2))➝352/2*,&,,➝029,(➝086,&➝0$75,;➝&/$66,&➝+$//➝
7+($7(5➝656➝2))
9&5PRGH
2))➝352/2*,&,,➝029,(➝086,&➝0$75,;➝&/$66,&➝+$//➝7+($7(5➝656➝
2))
5$',2PRGH
2))➝352/2*,&,,➝029,(➝086,&➝0$75,;➝&/$66,&➝+$//➝7+($7(5➝656➝
2))
■6RXQG)LHOGVDQG*UDSKLFV(TXDOL]HUFDQEHVHW
'9'
'9'
'9'9&'&'
6HOHFWLQJ6RXQG)LHOGV
6HOHFWLQJDVXEWLWOHODQJXDJH
$&&K(QJOLVK
6XEWLWOHV2II
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 40
'9' 3OD\EDFN
=2200XOWL$QJOHDQG'LJHVWSOD\
8VLQJD]RRPIXQFWLRQ
■7KHXVHUFDQHQODUJHWKHFXUUHQWVFUHHQDERXWRUWLPHV
:KLOHSOD\EDFNRUVWLOOPRGHSUHVV>=220@
EXWWRQWLOOWKHULJKWILJXUHDSSHDUV
(YHU\WLPHWKHXVHUSUHVVHV>=220@EXWWRQD]RRP
PDJQLILFDWLRQFKDQJHVWLPHV;➝WLPHV;➝
WLPHV;➝2))➝WLPHV;RQHE\RQH
$EDVHSRLQWWREHHQODUJHGLVFHQWUHDQGWKHSRLQWFDQEH
FKDQJHGZLWKWKHRSHUDWLRQRI> @EXWWRQ
■,IDGLVFLQFOXGHVPXOWLDQJOHLQIRUPDWLRQWKHXVHUFDQZDWFKDVFUHHQLQPXOWLDQJOHV7KHIXQFWLRQLVOLPLWHG
WRD'9'GLVFVXSSRUWLQJPXOWLDQJOHLQIRUPDWLRQ
.HHSSUHVVLQJ>$1*/(@EXWWRQWLOOWKH
SUHIHUUHGDQJOHDSSHDUV
(YHU\WLPHWKHXVHUSUHVVHV>$1*/(@EXWWRQDQDQJOH
GHJUHHVFKDQJHVLQDFRQVHFXWLYHRUGHU
)RUWKHFDVHRI
9&'RQO\WLPHV
=RRPLVDYDLODEOH
'9'9&'
'9'
'LIIHUHQW$QJOH
1RWDYDLODEOH
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 41
3OD\LQJDGLVFFRQWDLQLQJ03ILOHV
■3OD\DQG3DXVH
3UHVVWKH>3/$<3$86(@EXWWRQWRVZLWFKEHWZHHQSOD\DQGSDXVH
■6HDUFKIRUDWUDFN
7KH>6($5&+@EXWWRQZRUNVRQ03GLVFVDVZHOODV&'DXGLR
■7RVWRSSOD\EDFN
3UHVVWKH>6723 @EXWWRQ
■7RVNLSWRWKHQH[WRUSUHYLRXVILOH
3UHVVWKH>1(;7√√❚@EXWWRQRIWKHUHPRWHFRQWUROEULHIO\ZKLOHSOD\LQJWRVNLS
DKHDGWRWKHEHJLQQLQJRIWKHQH[WILOH(DFKWLPH\RXSUHVVWKHEXWWRQ
FRQVHFXWLYHO\WKHEHJLQQLQJRIWKHQH[WILOHLVORFDWHGDQGSOD\HGEDFN
3UHVVWKH>❚œœ 35(9@EXWWRQRIWKHUHPRWHFRQWUROEULHIO\ZKLOHSOD\LQJWRVNLS
EDFNWRWKHEHJLQQLQJRIWKHSUHYLRXVILOH(DFKWLPH\RXSUHVVWKHEXWWRQ
FRQVHFXWLYHO\WKHEHJLQQLQJRIWKHSUHYLRXVILOHLVORFDWHGDQGSOD\HGEDFN
7KHDELOLW\RIWKLVXQLWWRUHDG03GLVFVLVGHSHQGHQWRQWKHIROORZLQJV
7KH%LW5DWHPXVWEHZLWKLQNESV
7KHPD[LPXPQXPEHURIGLUHFWRULHVVKRXOGQRWH[FHHG
7KHPD[LPXPGHSWKOHYHORIGLUHFWRULHVVKRXOGQRWH[FHHG
)LOHQDPHVVKRXOGEHQDPHGXVLQJRUIHZHUOHWWHUVDQGRUQXPEHUVDQGPXVWLQFRUSRUDWH
WKH´03µILOHH[WHQVLRQ(;$03/(03ZKHUHHDFKLVDOHWWHURUQXPEHU
8VHRQO\OHWWHUVDQGRUQXPEHUVLQILOHQDPHV,I\RXXVHVSHFLDOFKDUDFWHUVWKHILOHDQGRU
IROGHUQDPHVPD\QRWEHGLVSOD\HGFRUUHFWO\RQWKHRQVFUHHQGLVSOD\
7KH&'5RU&'5:GLVFVVKRXOGEHZULWWHQXVLQJWKH¶GLVFDWRQFH·PHWKRG
7KHGLVFZKLFKLVPDGHZLWK,62IRUPDWFDQEHSOD\EDFN
$ERXW03GLVFV
7KLVXQLWZLOOSOD\03ILOHVUHFRUGHGRQ&'5DQG&'5:GLVFV
7XUQRQ\RXUWHOHYLVLRQDQGVHOHFWWKHFKDQQHODVVLJQHGWRWKLV'9'SOD\HU
3UHVVWKH'9'RSHQ>23(1&/26(@EXWWRQWKHGLVFWUD\RSHQV
3XWDGLVFFRQWDLQLQJ03ILOHVRQWKHGLVFWUD\ZLWKWKHODEHOVLGHXS
3UHVVWKH'9'RSHQ>23(1&/26(@EXWWRQWKHGLVFWUD\FORVHV
7KHXQLWZLOOWDNHDVKRUWZKLOHWRORDGWKHGLVFDQGGLVSOD\WKHGLUHFWRU\VWUXFWXUH
3UHVVWKH> @QDYLJDWLRQEXWWRQVRIWKHUHPRWHFRQWUROWRVHOHFWWKH
IROGHUWKHQSUHVVWKH>(17(5@EXWWRQWRFRQILUP
3UHVVWKH> @QDYLJDWLRQEXWWRQVRIWKHUHPRWHFRQWUROWRVHOHFWWKHILOH
\RXZDQWWROLVWHQWRWKHQSUHVVWKH>(17(5@EXWWRQDQGWKLVVHOHFWHGILOHLV
ORFDWHGDQGSOD\HGEDFN
$IWHUVWDUWLQJSOD\EDFNWKHWUDFNOLVWLVRQVFUHHQ<RXFDQPRYHWKHKLJKOLJKWRQWR
WKHIROGHUQDPHDERYHWKHWUDFNOLVWDQGFKDQJHIROGHUZLWKWKH>35(9@EXWWRQ
3UHVVWKH>6($5&+@EXWWRQWZLFHLQVWRSPRGHWRJHWEDFNWRIROGHUWUHHYLHZ
03
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 42
'9' 3OD\EDFN
7RGLVSOD\PHQXVLQDGLVF
■,IDGLVFLQFOXGHVPHQXVWKHXVHUPD\XVHWKHP
3UHVV>7,7/(3%&@RU>0(18@EXWWRQ
,WVKRZVPHQXVLQWKHGLVF$OVRWKH\DUHGLIIHUHQWDFFRUGLQJWRGLVFV
´5HWXUQµZLOODSSHDURQWKH26'ZLWK9&'
,ILWLVD9&'VHOHFW3%&21PRGHE\SUHVVLQJ>7,7/(3%&@EXWWRQ
&'DQG9&'GRQRWVXSSRUWWKHIXQFWLRQ
0RYHDFXUVRUWRDUHODWLYHLWHPZLWKDUURZEXWWRQVRI> @
EXWWRQDQGVHOHFWRQHZLWK>(17(5@EXWWRQRU>3/$<@EXWWRQ
'LVSOD\LQJPHQXVLQDGLVF
'9'9&'
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 43
7R(QMR\$QRWKHU79&KDQQHORU'9'GXULQJUHFRUGLQJ
,I\RXZDQWWRZDWFKDQRWKHU79FKDQQHOGXULQJUHFRUGLQJZLWKYLGHRSUHVV
>799&5@EXWWRQ
,WLVDYDLODEOHRIFKDQJLQJLQWRDQGZDWFKLQJDQRWKHU79FKDQQHOE\SUHVVLQJ79
>&+$11(/@EXWWRQV
,I\RXZDQWWRSOD\EDFN'9'GXULQJUHFRUGLQJZLWKYLGHRLQVHUWD'9'GLVF
3ODFHWKHGHVLUHG'9'GLVFRQ'9'WUD\SUHVV>'9'@EXWWRQWRFRQYHUW287387LQWR
'9'PRGHDQGSUHVV>3/$<@EXWWRQ7KHQ\RXFDQZDWFK'9'
5HFRUGLQJ
3UHVV>√@EXWWRQWRSRZHURQ
3UHVV>9&5@EXWWRQRIUHPRWHFRQWUROWRFKDQJHLQWR9&5PRGH
3RZHURQ79DQGVHOHFW&KRUSUHVV>,1387@EXWWRQRI79VHWWRVHOHFW
([WHUQDO,QSXWPRGH
,QVHUWDUHFRUGDEOHWDSH
,QVHUWDWDSHZLWKUHFRUGLQJWDE
:LWK>&+$11(/@>180%(5@DQG>287387@EXWWRQVVHOHFWWKH
GHVLUHGEURDGFDVWLQJFKDQQHORUH[WHUQDOLQSXWXQLWWRUHFRUG
7R5HFRUG:LWK9&5
6HOHFWWKHGHVLUHGVSHHG63RU6/3ZLWK>63(('@EXWWRQ
3UHVV>5(&@EXWWRQ
7KHQLWVWDUWVUHFRUGLQJ
,I\RXZDQWWRSDXVHUHFRUGLQJSUHVV>3$86(@EXWWRQ
$IWHUSUHVVLQJ>3$86(@EXWWRQLIWKHSDXVHVWDWXVFRQWLQXHVIRUILYHPLQXWHV
WKHUHFRUGLQJLVUHOHDVHGDXWRPDWLFDOO\
7RH[LWUHFRUGLQJSUHVV>6723@EXWWRQ
23(1&/26(
±
75$&.,1*
&/($5
6(783
(17(5
2.
=220
5(&
352*5$0
0(025<
6($5&+ 68%7,7/( $8',2 6281'),(/'
5(3($7 $±% '(/$< /(9(/
087( &/.&17 799&5
79,1387
6/((3
67(3
63(('$1*/(
&+35(6(7
',63/$<
)0$0
0(18
7,7/(3%&
36&$1
,1387
9&5
32:(5
'9' 79
92/92/±
±
781,1*6($5&+
±
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 44
5HFRUGLQJ
7KLVSURGXFWLQFRUSRUDWHVFRS\ULJKWSURWHFWLRQWHFKQRORJ\WKDWLVSURWHFWHGE\PHWKRGFODLPVRIFHUWDLQ86
SDWHQWVDQGRWKHULQWHOOHFWXDOSURSHUW\ULJKWVRZQHGE\0DFURYLVLRQ&RUSRUDWLRQDQGRWKHUULJKWVRZQHUV
8VHRIWKLVFRS\ULJKWSURWHFWLRQWHFKQRORJ\PXVWEHDXWKRUL]HGE\0DFURYLVLRQ&RUSRUDWLRQDQGLVLQWHQGHG
IRUKRPHDQGRWKHUOLPLWHGYLHZLQJXVHVRQO\XQOHVVRWKHUZLVHDXWKRUL]HGE\0DFURYLVLRQ&RUSRUDWLRQ
5HYHUVHHQJLQHHULQJRUGLVDVVHPEO\LVSURKLELWHG
7R5HFRUG)URP'9'7R9LGHRWDSHGXULQJ'9'SOD\EDFN
2QH7RXFKWLPHU5HFRUGLQJ275
■:KHQ\RXUXUJHQWEXVLQHVVKDSSHQVVXGGHQO\LQZDWFKLQJ79RU\RXZDQWWRUHFRUGWKHFXUUHQW79SURJUDP
IRUWKHGHVLUHGWLPHIROORZWKHSURFHGXUHVEHORZ
5HFRUGLQJ
)LUVWIROORZWKHVWHSVWRLQ´5HFRUGLQJ:LWK9&5µ
3UHVV>5(&@EXWWRQDVPXFKDV\RXZDQW6HHWKH´5HFRUGLQJ7LPHV7DEOHµEHORZ
2QFH FRQWLQXRXVUHFRUGLQJXQWLO\RXSUHVV6723EXWWRQ
7ZLFH UHFRUGLQJIRUPLQVIURPFXUUHQWWLPH
WLPHV UHFRUGLQJIRUKRXU
UHFRUGLQJIRUKRXUV
UHWXUQLQJWRWKHVWDWXVRI2QFH3UHVV
7RVWRS5HFRUGLQJPRGHSUHVV>6723@EXWWRQPRUHWKDQVHFRQGV
3UHVV>'9'@EXWWRQRIUHPRWHFRQWUROWRFKDQJHLQWR'9'PRGH
,QVHUWWKHGHVLUHG'9'GLVF
:KHQLWLVD'9'GLVFZLWKFRS\SURWHFWIXQFWLRQ\RXFDQ·WFRS\LW
,QVHUWDUHFRUGDEOHWDSH
3OD\WKH'9'GLVFDQGSUHVV>5(&@EXWWRQ
'9'SOD\VDQG9&5VWDUWVUHFRUGLQJ
7RH[LWFRS\SUHVV> @EXWWRQ
$OVRLWVWRSVDXWRPDWLFDOO\ZKHQ'9'SOD\EDFNLVILQLVKHGRUUHFRUGHGWDSHLV
UHDFKHGWRWKHHQG
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 45
7LPHU5HFRUGLQJV
7,0(55(&25',1*6
3UHVV>6(783@EXWWRQDQGVHOHFW
´7,0(55(&25',1*6µ
0RYH LQWR´7,0(55(&25',1*6µZLWK> @
DQGWKHQVHOHFWWKHGHVLUHGRQHZLWK>(17(5@
EXWWRQ
6HOHFW´0DNHD1HZ3URJUDPµ
3UHVV>(17(5@EXWWRQWRVHOHFW´0DNHDQHZ
3URJUDPµ
6HOHFW´7LPHU5HFRUGLQJPHWKRGµ
0RYH LQWRGHVLUHGUHFRUGLQJW\SHZLWK> @
DQGWKHQVHOHFWWKHGHVLUHGRQHZLWK>(17(5@
EXWWRQ
)RU7LPHU5HFRUGLQJPHWKRGGHWDLOVVHH
´9DULRXV7,0(55(&µLQWKHSDJH
6HOHFW´DEURDGFDVWLQJWRUHFRUGµ
6HOHFWWKHGHVLUHGEURDGFDVWLQJFKDQQHO
ZLWK>180%(5@EXWWRQV
,I&RQYHUWHU%R[DQGYLGHRDUHFRQQHFWHGWR
9LGHR$XGLRWHUPLQDOVHW´(;7(51$/,1387µ
RQ7,0(55(&&+E\XVLQJ´287387µEXWWRQ
6HW´WKHGDWHDQGWLPHWRUHFRUGµ
6HOHFWWKHGDWHVWDUWWLPHDQGHQGWLPHWR
UHFRUGZLWK>180%(5@EXWWRQV
■3RZHURQ79
■0DNHVXUHWKDWFXUUHQWWLPHLVVHWFRUUHFWO\
■,QVHUWDUHFRUGDEOHWDSHZLWKUHFRUGLQJWDE
■3ULRUWRWKHVHWWLQJSUHVV>9&5@EXWWRQWRFKDQJHWR9&5PRGH
:KHQ PRYHVLQWR´&DEOHµVHOHFWRQHRI´&DEOHµµ$QWHQQDµZLWK> @RU
> @EXWWRQ
6(783
&/2&.6(7
7,0(55(&25',1*6
&+$11(/6(7
)81&7,216
/$1*8$*(6(/(&7
7,0(55(&25',1*6
0DNHD1HZ3URJUDP
5HYLHZ&DQFHO3URJUDPV
352*5$021(7,0(
+RZRIWHQGR\RXZDQW
WRUHFRUGSURJUDP"
2QH7LPH
'DLO\6XQ6DW
:HHNGD\V0RQ)UL
:HHNO\2QFHD:HHN
&KDQQHO &DEOH
6WDUW'DWH
6WDUW7LPH $0
(QG7LPH $0
7DSH6SHHG 63
352*5$021(7,0(
&KDQQHO &DEOH
6WDUW'DWH
6WDUW7LPH $0
(QG7LPH $0
7DSH6SHHG 63
0RYH 6HOHFW
(QG 6(783
(17(5
0RYH 6HOHFW
(QG 6(783
(17(5
0RYH 6HOHFW
(QG 6(783
(17(5
0RYH ,QSXW
9LGHR (QG 6(783287387
0RYH ,QSXW
9LGHR (QG 6(783287387
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 46
5HFRUGLQJ
6HWSURSHU´5(&25',1*63(('µ
6HOHFWRQHRI636/3ZLWK> @RU> @EXWWRQ
)RUPRUHLQIRUPDWLRQRQUHFRUGLQJVSHHGVHH
´8VLQJYLGHRFDVVHWWHµLQWKHSDJH
3UHVV>6(783@EXWWRQWRFRPSOHWHWKH
VHWWLQJ
´3URJUDPKDVEHHQVDYHG)RUSURJUDP
UHFRUGLQJLQVHUWDFDVVHWWHµPHVVDJHLV
GLVSOD\HG
2QWKHUHVHUYHGWLPH7,0(55(&25',1*6VWDUWV
WRRSHUDWH
7R&RQILUPRU&DQFHO7,0(55(&25',1*6
6HOHFW´5HYLHZ&DQFHO3URJUDPVµ
&RQILUPUHVHUYDWLRQUHFRUGLQJGHWDLOVLQWXUQ
ZLWK> @EXWWRQDQGWKHQSUHVV>&/($5@EXWWRQ
RQWKHSRVLWLRQRIWKHGHWDLOVWRGHOHWH
352*5$021(7,0(
&KDQQHO &DEOH
6WDUW'DWH
6WDUW7LPH $0
(QG7LPH $0
7DSH6SHHG 63
352*5$021(7,0(
&KDQQHO &DEOH
6WDUW'DWH
6WDUW7LPH $0
(QG7LPH $0
7DSH6SHHG 63
352*5$021(7,0(
&KDQQHO &DEOH
6WDUW'DWH
6WDUW7LPH $0
(QG7LPH $0
7DSH6SHHG 63
352*5$0 KDVEHHQVDYHG
)RUSURJUDPUHFRUGLQJ
LQVHUWDFDVVHWWH
7ROHDYH\RXUFDEOHER[
RQDQGWXQHGWRSUHVHW
FKDQQHO
7,0(55(&25',1*6
0DNHD1HZ3URJUDP
5HYLHZ&DQFHO3URJUDPV
0RYH ,QSXW
9LGHR (QG 6(783287387
0RYH ,QSXW
9LGHR (QG 6(783287387
0RYH 6HOHFW
(QG 6(783
(17(5
&DQFHO 0RYH
(QG 6(783
&/($5
,IDUHFRUGDEOH
WDSHLVQRW
LQVHUWHGLQ6WRSPRGH
XQGHU3RZHU21
´:DLWLQJIRU7,0(5
5(&25',1*6,QVHUWD
UHFRUGDEOHWDSHµ
PHVVDJHLVGLVSOD\HG
LQWKHFHQWHURI
VFUHHQIRUDOO
FKDQJHVRURXWSXW
FRQYHUVLRQVLQFXUUHG
GXULQJ7,0(5
5(&25',1*66(7
7LPHU5HFRUGLQJV
7LPHU3URJUDP6HWWLQJ
3UHVV>352*5$0@EXWWRQLQ9&5PRGH
<RXFDQVHWWKH7LPHU3URJUDP
%HIRUHWLPHUSURJUDPVHWWLQJFORFNVKRXOGEHVHWFRUUHFWO\DQGYLGHRPRGHVKRXOGEH
VHOHFWHG
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 47
8VLQJYLGHRFDVVHWWHV
%HIRUH\RXSOD\RUUHFRUGRQDYLGHRFDVVHWWHWDSHEHFHUWDLQWRUHDGWKLVLQIRUPDWLRQRQWKHSURSHUFDUHDQG
XVHRIYLGHRFDVVHWWHV
2QO\XVHYLGHRFDVVHWWHVWKDWEHDUWKH9+6PDUN
7KHUHDUHIRXUW\SHVRIYLGHRFDVVHWWHV777DQG77KHDPRXQW\RXFDQUHFRUGRQDWDSHLV
GHSHQGHQWXSRQWKHWDSHVSHHGDWZKLFK\RXUHFRUG7KHWDEOHEHORZOLVWVWKHUHFRUGLQJWLPHKRXUVPLQXWHVIRU
HDFKWDSHW\SHDFFRUGLQJWRUHFRUGLQJVSHHG
7DSH7\SH 630RGH6WDQGDUG3OD\ 6/30RGH([WHQGHG3OD\
7
7
7
7
3URWHFWLQJYLGHRFDVVHWWHVIURPDFFLGHQWDOHUDVXUH
&DVVHWWHVKDYHDVDIHW\WDEWRSUHYHQWHUDVXUH%UHDNRIIWKHVDIHW\WDEZLWKDVFUHZGULYHU,I
\RXZLVKWRUHFRUGRQDFDVVHWWHZLWKRXWDVDIHW\WDEFRYHUWKHKROHZLWKFHOORSKDQHWDSH
,QVHUWLQJYLGHRFDVVHWWHV
)LUPO\LQVHUWWKHFDVVHWWHLQWRWKHFDVVHWWHFRPSDUWPHQWZLWKWKHODEHOXS$QLQYHUWHGFDVVHWWHFDQQRWEH
LQVHUWHG
5HPRYLQJYLGHRFDVVHWWHV
3UHVV>(-(&7@RQWKHIURQWSDQHODQGWKH9&5ZLOOHMHFWWKHWDSH3XOOWKHFDVVHWWHRXWJHQWO\
$XGLRYLVXDOPDWHULDOPD\LQFOXGHZRUNVRIFRS\ULJKWZKLFKPXVWQRWEHUHFRUGHGZLWKRXWDXWKRUL]DWLRQRIWKH
FRS\ULJKWRZQHU
,I\RXLQVHUWDYLGHRFDVVHWWHZLWKRXWDVDIHW\WDELQWRWKHXQLW $IWHUVHWWLQJWKHWLPHUUHFRUGLQJSURJUDP´ µ
ZLOOEOLQNRQWKHGLVSOD\SDQHOLQWKHSRZHURIIPRGHDQGWKHXQLWZLOODXWRPDWLFDOO\HMHFWWKHFDVVHWWH,QWKH
SRZHURQPRGHWKHXQLWZLOOSOD\EDFNDXWRPDWLFDOO\
,I\RXLQVHUWDYLGHRFDVVHWWHZLWKDVDIHW\WDELQWRWKHXQLW $IWHUVHWWLQJWKHWLPHUUHFRUGLQJSURJUDPWKHXQLW
ZLOOEHVWDQGE\PRGHLQSRZHURIIPRGH
'RQRWDWWHPSWWRSXOORXWWKHYLGHRFDVVHWWHRQFHWKHXQLWEHJLQVWRORDGWKHYLGHRFDVVHWWH
'RQRWLQVHUWILQJHUVRUDQ\IRUHLJQREMHFWEH\RQGWKHGRRUIODSVRIWKHFDVVHWWHFRPSDUWPHQWWKLVFRXOGOHDGWR
LQMXU\RUHTXLSPHQWGDPDJH
'RQRWDWWHPSWWRLQVHUWDYLGHRFDVVHWWHLIWKHXQLWLQXQSOXJJHG
9DULRXV7,0(55(&25',1*6
2QH7LPH ,WLVDYDLODEOHRI7,0(55(&25',1*6DWWKHGHVLUHGVSHFLILHGWLPH
'DLO\ 2QFH\RXVHW7,0(55(&25',1*6RIWKHGHVLUHGSURJUDPWHOHFDVWHGDWWKHVDPHWLPHGD\
DIWHUGD\LWLVDYDLODEOHRIGDLO\UHFRUGLQJV,WLVDYDLODEOHRI7,0(55(&25',1*6IURP
6XQGD\WR6DWXUGD\
:HHNGD\ ,WLVVLPLODUWR'DLO\7,0(55(&25',1*6EXWWKLV7,0(55(&25',1*6LVDYDLODEOHIURP
0RQGD\WR)ULGD\
:HHNO\ 2QFH\RXVHOHFWRQHGD\RIWKHZHHNLWLVDYDLODEOHRI7,0(55(&25',1*6LQWKHVDPH
GD\ZHHNO\
7LPHU5HFRUGLQJV
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 48
5HFRUGLQJ
:DWFKLQJDQG5HFRUGLQJ&DEOH79
7R:DWFKDQG5HFRUG3URPSWO\&DEOH79
3RZHURQFRQYHUWHUDQGWKHQ
VHWDFKDQQHOWRZDWFKRUWRUHFRUG
3RZHURQ'9'YLGHRDQGWKHQ
VHWWKHFKDQQHORI'9'YLGHRWRWKH
FRQYHUWHUFRQQHFWHGFKDQQHORQHRI&+(;7(51$/,1387
3RZHURQ79DQGWKHQ
VHWWKHYLGHRFRQQHFWHGFKDQQHORQHRI
&+9&5
6LPXOWDQHRXV5HFRUGLQJDQG:DWFKLQJ
$WWKLVWLPH&+VHOHFWHGE\WKHFRQYHUWHULVGLVSOD\HGRQ79VFUHHQ
6LPXOWDQHRXVO\SUHVV>5(&@EXWWRQRI'9'9LGHRWRUHFRUGWKH&+VHOHFWHGE\
WKHFRQYHUWHUDQGSUHVV>5(&@EXWWRQPRUHWKDQWZRWLPHVWRVHWRQ2QH7RXFK
WLPHU5HFRUGLQJ275
7,0(55(&25',1*6RI&DEOH79
5HVHUYH9&5
$FFRUGLQJWR7,0(55(&SURFHGXUHVVHOHFW7,0(55(&25',1*66(7ZLQGRZDQG
FRPSOHWHWKHVHWWLQJV$WWKLVWLPHWKHYLGHRFKDQQHOVKRXOGEHLQSXWLQ&+
RU&+(;7(51$/,1387RIWKHFRQYHUWHUFRQQHFWHGFKDQQHO(QWHUGDWHDQG
WLPHRIWKHFDEOHSURJUDPIRU7,0(55(&25',1*6
$GMXVW&RQYHUWHU
6HWFRQYHUWHUWRWKHFDEOH79FKDQQHOWRUHFRUG
HJ7RUHFRUG&+
'LVSOD\&+ZLWK&219(57(5&+$11(/6(/(&7EXWWRQ
,IWKHUHLV7,0(55(&IXQFWLRQRIFRQYHUWHULWLVDYDLODEOHRIUHVHUYDWLRQ
&RPSOHWH5HVHUYDWLRQ
,I\RXSRZHURQFRQYHUWHUYLGHRSRZHUVRQDXWRPDWLFDOO\DQGVWDUWVUHFRUGLQJ
DWWKHUHVHUYHGWLPH
+RPHZDWFKLQJFDEOH79LVXQDYDLODEOHRIVLPXOWDQHRXVUHFRUGLQJIXQFWLRQ
ZKLOHUHFRUGLQJ1%&SURJUDPZDWFKLQJ&11SURJUDP2ZLQJWRPHFKDQLFDO
IHDWXUHVRIFRQYHUWHULWLVXQDYDLODEOHRIVLPXOWDQHRXVUHFHSWLRQRIWZR
FKDQQHOV
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 49
3UHVHWWLQJWKHUDGLRVWDWLRQV
■<RXFDQSUHVHWVWDWLRQVIRU)0DQG$0%HIRUHWXQLQJPDNHVXUHWKDW\RXKDYHWXUQHGGRZQWKHYROXPH
WRWKHPLQLPXP
3UHVV>)0$0@EXWWRQXQWLOWKH)0RU$0DSSHDUVLQWKHGLVSOD\
ZLQGRZ
$QGWKHQHYHU\WLPH\RXSUHVV>)0$0@EXWWRQ)0DQG$0FKDQJHVDOWHUQDWHO\
3UHVVDQGKROG>781,1*²@EXWWRQIRUDERXWWZRVHFRQGVXQWLO
WKHIUHTXHQF\LQGLFDWLRQVWDUWVWRFKDQJHWKHQUHOHDVH
6FDQQLQJVWRSVZKHQWKH'9'5HFHLYHUWXQHVLQDVWDWLRQ
3UHVV>0(025<@EXWWRQ
$SUHVHWQXPEHUZLOOIODVKLQWKHGLVSOD\ZLQGRZ
3UHVV>35(6(7²@EXWWRQWRVHOHFWWKHSUHVHWQXPEHU\RX
ZDQW
3UHVV>0(025<@EXWWRQDJDLQ
7KHVWDWLRQLVVWRUHG
7RWXQHLQDVWDWLRQZLWKDZHDNVLJQDO
3UHVV>781,1*²@EXWWRQUHSHDWHGO\LQVWHSWRWXQHLQWKHVWDWLRQPDQXDOO\
7RFOHDUDOOWKHPHPRUL]HGVWDWLRQV
3UHVVDQGKROG>0(025<@EXWWRQIRUDERXWWKUHHVHFRQGVDQG´&/($5$//µDSSHDUVLQ
WKHGLVSOD\ZLQGRZDQGWKHQSUHVV>0(025<@EXWWRQDJDLQWKHVWDWLRQVDUHFOHDUHG
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 50
5DGLR 2SHUDWLRQ
/LVWHQLQJWRWKHUDGLR
■3UHVHWUDGLRVWDWLRQVLQWKH'9'UHFHLYHU·VPHPRU\ILUVWVHH´3UHVHWWLQJUDGLRVWDWLRQVµRQWKHSUHYLRXV
SDJH
3UHVV>)0$0@EXWWRQXQWLO$0RU)0DSSHDUVLQWKHGLVSOD\
ZLQGRZ
7KHODVWUHFHLYHGVWDWLRQLVWXQHGLQ
3UHVV>35(6(7²RU@EXWWRQUHSHDWHGO\WRVHOHFWWKHSUHVHW
VWDWLRQ\RXZDQW
(DFKWLPH\RXSUHVVWKHEXWWRQWKH'9'UHFHLYHUWXQHVLQRQHSUHVHWVWDWLRQDW
DWLPH
$GMXVWWKHYROXPHE\URWDWLQJ92/80(RQWKHIURQWSDQHORU
SUHVVLQJ>92/@RU>92/@EXWWRQUHSHDWHGO\
7RWXUQRIIWKHUDGLR
3UHVV32:(5WRWXUQWKHXQLWRIIRUVHOHFWDQRWKHUIXQFWLRQPRGH'9'9&59,'(2RU
9,'(2
7ROLVWHQWRQRQSUHVHWUDGLRVWDWLRQV
8VHPDQXDORUDXWRPDWLFWXQLQJLQVWHS
)RUPDQXDOWXQLQJSUHVV>781,1*@EXWWRQUHSHDWHGO\
)RUDXWRPDWLFWXQLQJSUHVVDQGKROG>781,1*@EXWWRQIRUDERXWWZRVHFRQGV
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 51
6XUURXQG6RXQG$XGLR&RPSRQHQWV
6SHDNHU6HWXSIRUHQMR\LQJWKHVXUURXQGVRXQGHIIHFW
'76'LJLWDO6XUURXQG'ROE\'LJLWDODQG'ROE\3UR/RJLFWHFKQRORJLHVFDQEHXVHGWRHQMR\GLPHQVLRQDOVRXQG
HIIHFWVZLWKYLGHRLPDJH:HUHFRPPHQG\RXXVHWKHIROORZLQJGHYLFHV
+L)L6WHUHR9&5WRSOD\WKHSURJUDPVRXUFHV
/DUJHVFUHHQ79PRQLWRUIRUDKLJKTXDOLW\YLGHRLPDJH
8VHWKHSURJUDPVRXUFHVHJ/''9'9,'(27$3(HWFODEHOHGZLWK'76'LJLWDO6XUURXQGRU'ROE\
'LJLWDO6XUURXQGRU'ROE\3UR/RJLF6XUURXQG
0DQXIDFWXUHGXQGHUOLFHQVHIURP'ROE\/DERUDWRULHV´'ROE\µ´3UR/RJLFµDQGWKHGRXEOH'V\PERODUH
WUDGHPDUNVRI'ROE\/DERUDWRULHV&RQILGHQWLDO8QSXEOLVKHGZRUNV&RS\ULJKW'ROE\/DERUDWRULHV
$OOULJKWVUHVHUYHG
0DQXIDFWXUHGXQGHUOLFHQVHIURP'LJLWDO7KHDWHU6\VWHPV,QF863DW1RDQGRWKHUZRUOGZLGH
SDWHQWVLVVXHGDQGSHQGLQJ´'76µDQG´'76'LJLWDO6XUURXQGµDUHWUDGHPDUNVRI'LJLWDO7KHDWHU6\VWHPV,QF
&RS\ULJKW'LJLWDO7KHDWHU6\VWHPV,QF$OOULJKWVUHVHUYHG
5RRPIHDWXUHVDIIHFWLQJVRXQG
,IWKHURRPLVPDGHRIFRQFUHWHDQGKDUGPDWHULDOVOLNHZRRGZDOOV\RXZLOOQRWKHDUWKHXOWLPDWHVXUURXQG
HIIHFWV7KHZDOOVRIWKHURRPPXVWKDYHWKHDSSURSULDWHDEVRUSWLRQIDFWRUDQGEHDEOHWRUHIOHFWWKHVRXQGIRU
WKHSURSHUHIIHFW,IWKHURRPKDVWRRPXFKVRXQGUHIOHFWLRQWU\UHSRVLWLRQLQJWKHIXUQLWXUH<RXPD\DOVRQHHG
WRKDQJFXUWDLQVHWFWRDEVRUEPRUHRIWKHVRXQGH[SHULPHQWZLWKWKHURRP·VDFRXVWLFV
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 52
6SHDNHU VHWXS
6SHDNHU3RVLWLRQLQJ
$W\SLFDOVSHDNHUVHWXSXVHVVSHDNHUVIURQWVSHDNHUVDFHQWHUVSHDNHUUHDUVSHDNHUVDQGDVXEZRRIHU
$GGDVXEZRRIHUWRKHDUH[FHOOHQWEDVVVRXQG'76GLJLWDOVXUURXQGRU'ROE\'LJLWDOVXUURXQG6HWXSDOLVWHQLQJ
SRVLWLRQDFRXFKRUFKDLUVHWFDVVKRZQLQWKHVSHDNHUSRVLWLRQLQJH[DPSOH
)URQWVSHDNHUV
:HUHFRPPHQGWKDWWKHKHLJKWRIWKHWZHHWHUVRIWKHIURQWVSHDNHUVEHDWWKHVDPHKHLJKWDVWKHOLVWHQHU·V
HDUVWRWKHOHIWDQGULJKWRIWKH796HHVSHDNHUSRVLWLRQLQJH[DPSOHIRUVSHDNHUSODFHPHQW
&HQWHUVSHDNHU
,GHDOO\WKHFHQWHUVSHDNHUDQGIURQWVSHDNHUVZRXOGEHSRVLWLRQHGDWWKHVDPHKHLJKW3ODFHWKHFHQWHU
VSHDNHUDERYHRUEHORZWKHWHOHYLVLRQ
5HDUVSHDNHUV6XUURXQG
3ODFHOHIWDQGULJKWVXUURXQGVSHDNHUVEHKLQGWKHOLVWHQLQJDUHD7KHVHVSHDNHUVKHOSUHFUHDWHVRXQGPRWLRQ
DQGDWPRVSKHUHUHTXLUHGIRUVXUURXQGSOD\EDFN)RURSWLPXPVRXQGHIIHFWVGRQRWSODFHWKHUHDUVSHDNHUV
WRRIDUEHKLQGWKHOLVWHQLQJSRVLWLRQ,QVWDOOWKHPDWRUDERYHWKHKHLJKWRIWKHOLVWHQHU·VHDUV,WLVDOVR
HIIHFWLYHWRSRLQWWKHUHDUVSHDNHUV
WRZDUGDZDOORUFHLOLQJWRIXUWKHU
GLVSHUVHWKHVRXQG
,IWKHURRPLVVPDOODQGWKHOLVWHQHUV
DUHDLVQHDUWKHUHDUZDOOVHWWKHUHDU
VSHDNHUVRSSRVLWHHDFKRWKHUDERXW
IHHWKLJKHUWKDQWKHOLVWHQHUV·HDUV
6XEZRRIHU
3ODFHLWDQDSSURSULDWHSRVLWLRQ6HH
VSHDNHUSRVLWLRQLQJH[DPSOH
1RWHV
:HUHFRPPHQGWKDW\RXXVHPDJQHWLFVKLHOGHGVSHDNHUVIRUWKHIURQWOHIWULJKWVSHDNHUVDQG
FHQWHUVSHDNHUWRSUHYHQWYLGHRQRLVHIURPDSSHDULQJRQWKH79SLFWXUH
8VHVSHDNHUVLQ\RXUVHWXSWKDWKDYHVLPLODUWRQDOFKDUDFWHULVWLFV
6SHDNHU3RVLWLRQLQJ([DPSOH
&HQWHU6SHDNHU )URQW6SHDNHU
5LJKW
)URQW6SHDNHU
/HIW
6XEZRRIHU
6XUURXQG
6SHDNHU/HIW
6XUURXQG
6SHDNHU5LJKW
6SHDNHU6HWXSIRUHQMR\LQJWKHVXUURXQGVRXQGHIIHFW
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 53
'HOD\7LPH6HWWLQJ
'HOD\7LPH6HWWLQJ
■,Q'ROE\'LJLWDORU'ROE\3UR/RJLFPRGHLWLVDVVXPHGWKDWWKHWLPHLWWDNHVWKHVRXQGIURPHDFKVSHDNHUWR
UHDFKWKHOLVWHQHULVWKHVDPH%XWLIWKHWLPHLQWHUYDOIURPWKHFHQWHURUUHDUOHIWDQGULJKWVSHDNHUVWRWKH
OLVWHQHULVFORVHUWKDQWKHWLPHLQWHUYDOIURPWKHOLVWHQHUWRWKHIURQWOHIW
DQGULJKWVSHDNHUWKHVRXQGRIFHQWHURUUHDUOHIWDQGULJKWVSHDNHUZLOO
UHDFKWKHOLVWHQHUILUVWLQVWHDGRIWKHVRXQGRIWKHIURQWVSHDNHUV,WLV
GHVLUDEOHWKDWWKHVRXQGIURPWKHIURQWVSHDNHUVUHDFKWKHOLVWHQHU
ILUVW
'ROE\'LJLWDODQG'ROE\3UR/RJLFPRGHVSURYLGHVSHDNHUWLPHGHOD\
DGMXVWPHQWVWRUHVROYHWKLVSUREOHP\RXFDQPDQXDOO\VHWWKHGHOD\
WLPHRIWKHFHQWHURUUHDUOHIWDQGULJKWVSHDNHUVVRWKDWWKHVRXQGIURP
DOOVSHDNHUVZLOODUULYHVLPXOWDQHRXVO\WRWKHOLVWHQHU
7KHLQWHUYDOIURPWKHVSHDNHUVWRWKHOLVWHQHU,IWKHGLVWDQFHIURPWKHOLVWHQHUWRHDFKVSHDNHULVWKHVDPHLQ
WKH'ROE\'LJLWDODQG'ROE\3UR/RJLFPRGHWKHGHOD\WLPHRIHDFKVSHDNHULVDVIROORZV
,Q'ROE\'LJLWDOPRGH
&HQWHUGHOD\WLPHPV5HDUGHOD\WLPHPV
,Q'ROE\3UR/RJLFPRGH
&HQWHUGHOD\WLPHQRVHWWLQJ5HDUGHOD\WLPHPV
,IWKHUHDUGHOD\WLPHLVVHWLQ'ROE\'LJLWDOPRGHLQWKH'ROE\3UR/RJLFPRGHWKHGHOD\WLPHZLOOEHVHW
DXWRPDWLFDOO\7KHGHOD\WLPHLVPVHFSHUIRRW
,IWKHFHQWHUDQGUHDUVSHDNHUVDUHIXUWKHUWKDQWKHIURQWVSHDNHUVIURPWKHOLVWHQHUWKHGHOD\WLPHZLOOEHVHW
DWPLQLPXP
6XUURXQGGHOD\WLPHVHWWLQJ
,IWKHGLVWDQFHRI'6LVHTXDOWRRUORQJHUWKDQWKH')LQWKHOHIWILJXUHVHWWKH6XUURXQG'HOD\7LPHDVPV
2WKHUZLVHFKDQJHWKHVHWWLQJDFFRUGLQJWRWKHVSHFLILFDWLRQVEHORZ
([ ,IWKHGLVWDQFHIURPIURQWVSHDNHUVWRWKHOLVWHQHULVIWDQGIURPUHDUVSHDNHUVIURPWKHOLVWHQHULVIW
LQWKH'ROE\'LJLWDOPRGHWKHUHDUGHOD\WLPHLVPVHF
IW')IW'6 IW%
IW% IWIW PVHF
&HQWHUGHOD\WLPHVHWWLQJ
'ROE\'LJLWDOPRGHRQO\
,IWKHGLVWDQFHRI')LVHTXDOWRWKHGLVWDQFHRI'&LQWKHOHIWILJXUHVHWWKH&HQWHU'HOD\7LPHDVPV
2WKHUZLVHFKDQJHWKHVHWWLQJDFFRUGLQJWRWKHVSHFLILFDWLRQVEHORZ
([ ,IWKHGLVWDQFHIURPWKHIURQWVSHDNHUVWRWKHOLVWHQHULVIWDQGIURPWKHFHQWHUVSHDNHUWRWKHOLVWHQHULV
IWWKHFHQWHUGHOD\WLPHLVPVHF
IW')IW'& IW$
IW$IW PVHF
Ideal Front Speaker
Ideal Surround Speaker
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 54
6SHDNHU VHWXS
6HWWLQJWKHGHOD\WLPHLQWKH'ROE\'LJLWDODQG'ROE\3UR/RJLFPRGHV
3UHVV>'(/$<@EXWWRQ
7KHFXUUHQWVXUURXQGGHOD\WLPHDSSHDUVLQWKHGLVSOD\ZLQGRZ
<RXFDQVHOHFWFHQWHUGHOD\WLPHE\SUHVVLQJœ√LQWKH'ROE\'LJLWDOPRGH
RQO\
3UHVV>…†@EXWWRQWRFKDQJHWKHGHOD\WLPH
,IVHWWLQJLVFRPSOHWHSUHVV>'(/$<@EXWWRQ
<RXFDQDGMXVW
WKHFHQWHUGHOD\
WLPHRQO\LQWKH'ROE\
'LJLWDOPRGHDV\RX
DGMXVWLWWKHGHOD\
WLPHVSHFLILHG
DSSHDUV
'HOD\7LPH6HWWLQJ
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 55
6HWWLQJWKHVRXQGOHYHORIWKHGHVLUHGFKDQQHO
6HWWLQJWKHVRXQGOHYHO
3UHVV>/(9(/@EXWWRQ
7KH/(9(/LQGLFDWRUZLOODSSHDULQWKHGLVSOD\ZLQGRZ
3UHVV>/(9(/@EXWWRQWRVHOHFWDGHVLUHGVSHDNHUWRVHW
(DFKWLPH\RXSUHVVWKH>/(9(/@EXWWRQLWFKDQJHVLQWKHIROORZLQJRUGHU
)/)URQW/HIW➝&7&HQWHU➝ )5)URQW5LJKW➝656XUURXQG5LJKW➝ 6/
6XUURXQG/HIW➝:)6XEZRRIHU➝ )/)URQW/HIW
,QWKHFKDQQHOVWHUHRPRGH\RXFDQRQO\VHOHFWWKH6:6XEZRRIHU
6HWWLQJWKH%DODQFHEHWZHHQHDFKFKDQQHOE\XVLQJWKHWHVWWRQH
6HOHFWWKHWHVWWRQHPRGHE\SUHVVLQJ>7(67721(@EXWWRQ
$KLVVQRLVHFRPHVRXWIRUVHFRQGVIURPHDFKVSHDNHUVLQWKHIROORZLQJRUGHU
)/)URQW/HIW➝ &&HQWHU➝ )5)URQW5LJKW➝ 656XUURXQG5LJKW➝ 6/
6XUURXQG/HIW➝ 6:6XEZRRIHU➝ )/)URQW/HIW
$GMXVWWKHVRXQGOHYHOWKHVDPHZD\DVGHVFULEHGLQ´6HWWLQJ
WKHVRXQGOHYHORIWKHGHVLUHGFKDQQHOµDERYHVRWKDWDOOWKH
VSHDNHU·VVRXQGOHYHOLVVDPHIURPWKHOLVWHQHU·VSRVLWLRQ
'XULQJRSHUDWLQJWKHWHVWWRQHLI\RXDGMXVWWKHVRXQGOHYHOLWZLOOEHSDXVHG
LQWKHFXUUHQWVSHDNHUFKDQQHO
3UHVV>…†@EXWWRQWRDGMXVWWKHVRXQGOHYHORIWKHVHOHFWHG
FKDQQHO
5HSHDWVWHSDQGDGMXVWWKHVRXQGOHYHORIWKHRWKHU
FKDQQHOV
,IVHWWLQJLVFRPSOHWHSUHVV>/(9(/@EXWWRQ
■,Q'ROE\'LJLWDODQG'ROE\3UR/RJLFPRGHE\XVLQJWKHWHVWWRQHIXQFWLRQ\RXFDQ
HDVLO\DGMXVWWKHVRXQGEDODQFHRIWKHVSHDNHUVIURPWKHOLVWHQHU·VSRVLWLRQ
7RDGMXVWWKH
YROXPHRIDOO
WKHVSHDNHUVDWRQH
WLPH
8VHWKH92/80(
FRQWURO
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 56
6SHDNHU VHWXS 7KH RWKHUV
$ERXW'9'
3OD\DEOH'LVF
'9'9LGHR&'9HUVLRQ69&'DQG$XGLR&'
'LVFW\SH 3OD\DEOH 5HVWULFWLRQ
'9' 3RVVLEOH 5HJLRQQXPEHURU5HJLRQQXPEHU$OO
9LGHR&' 3RVVLEOH 9HUVLRQ69&'&9'
&' 3RVVLEOH 3&0
&'* 3RVVLEOH 2QO\$XGLRSOD\EDFN
&'520 3RVVLEOH 03)LOH
&'5 3RVVLEOH 9LGHR&'&'&'52003)LOH
&'5: 3RVVLEOH 9LGHR&'&'&'52003)LOH
'9'5 3RVVLEOH '9'9LGHR
'9'5: 3RVVLEOH '9'9LGHR
'9'5: 3RVVLEOH '9'9LGHR
'9'520 ,PSRVVLEOH
'9'5$0 ,PSRVVLEOH
3KRWR&' ,PSRVVLEOH
5(*,210$1$*(0(17,1)250$7,21
7KLVXQLWLVGHVLJQHGDQGPDQXIDFWXUHGWRUHVSRQGWRWKH5HJLRQ0DQDJHPHQWLQIRUPDWLRQWKDWLV
UHFRUGHGRQD'9'GLVF7KHUHJLRQQXPEHURIWKLVSOD\HULV´µ,IWKHUHJLRQQXPEHUGHVFULEHGRQWKH
'9'GLVFVGRHVQRWFRUUHVSRQGWRWKH5HJLRQQXPEHURIWKLVSOD\HUWKHSOD\HUZLOOQRWSOD\WKLVGLVF
7KLVSOD\HUZLOOSOD\'9'GLVFVPDGHIRU´$//µUHJLRQV7KHUHIRUHWKLVSOD\HUZLOOSOD\'9'GLVFV
PDUNHGZLWKODEHOVFRQWDLQLQJWKHUHJLRQQXPEHU´µRU´$//µ
5HJLRQ 5HJLRQ$//
$//
7HUPVUHODWHGZLWK'9'
'9' $'9'DEEUHYLDWLRQRI'LJLWDO9HUVDWLOH'LVFRU'LJLWDO9LGHR'LVFFDQLQFOXGHPLQXWHVRIYLGHR
LQIRUPDWLRQ$QGIRUDXGLRLWFDQKROGXSWRNLQGVRIODQJXDJHVDQGNLQGVRIVXEWLWOH
ODQJXDJHV%\XVLQJ03(*YLGHRFRPSUHVVLRQDQGGLJLWDO'VXUURXQGVRXQG'9'UHDOL]HVKLJK
GHILQHGVFUHHQDQGTXDOLW\VRXQGOLNHDPRYLHWKHDWHU
&''$ $&''$DEEUHYLDWLRQRI&RPSDFWGLVFGLJLWDODXGLRLVDPXVLFGLVFWKDWLVFXUUHQWO\XVHG
03 $XGLRFRPSUHVVLRQIRUPDWWKDWHQDEOHVDXGLRILOHVWREHVWRUHGDQGWUDQVIHUUHGRQDFRPSXWHU
ZLWKDUHODWLYHO\VPDOOILOHVL]H,WHQDEOHV\RXWRHQMR\&'TXDOLW\PXVLF6KRUWIRU03(*/D\HU
3%& 7KLVLVUHFRUGHGRQD9LGHR&'9LGHR&'69&'DQG&9'7KHVFHQHVRULQIRUPDWLRQWREH
YLHZHGRUOLVWHQHGWRFDQEHVHOHFWHGLQWHUDFWLYHO\ZLWKWKH79PRQLWRUE\ORRNLQJDWWKHPHQX
VKRZQRQWKH79PRQLWRU,WVWDQGVIRU3OD\%DFN&RQWURO
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 57
&+$37(5 ,WPHDQVWKHLQIRUPDWLRQUHFRUGHGLQD'9'$WLWOHLQD'9'LVGLYLGHGLQWRPDQ\WUDFNVRIZKLFK
DWUDFNLVFDOOHGDVDFKDSWHU$FHUWDLQVFHQHRIDVFUHHQFDQEHTXLFNO\VHDUFKHGZLWKWKH
FKDSWHUQXPEHU
7,7/( ,WPHDQVWKHLQIRUPDWLRQUHFRUGHGLQD'9'$'9'FDQEHGLYLGHGLQWRPD\WLWOHV
75$&. ,WPHDQVWKHLQIRUPDWLRQUHFRUGHGLQDYLGHR&'DQGDXGLR&'$GLVFFRQVLVWVRIPDQ\DWUDFNIRU
ZKLFKDXVHUFDQVHDUFKDFHUWDLQSRVLWLRQ
GWV 'LJLWDO7KHDWUH6\VWHPLVDFKDQQHOVXUURXQGVRXQGV\VWHPZKLFKLVZLGHO\XVHGLQPRYLH
WKHDWUHVDURXQGWKHZRUOG,WHQDEOHVWKHELWUDWHWREHLQFUHDVHGWRSURYLGHJRRGVRXQGTXDOLW\
´'76µDQG´'76'LJLWDO2XWµDUHWUDGHPDUNVRI'LJLWDO7KHDWHU6\VWHPV,QF
0XOWL$QJOH 6RPH'9'GLVFVFRQWDLQWKHYDULRXVVFHQHVWKDWKDYHEHHQVLPXOWDQHRXVO\VKRWIURPDQXPEHURI
GLIIHUHQWDQJOHV
3&0 /LQHDU3&0LVDVLJQDOUHFRUGLQJIRUPDWXVHGLQD&'ZKLOH&'LVUHFRUGHGLQN+]ELWD'9'
LVUHFRUGHGLQ.+]ELWXSWR.+]ELW
'ROE\'LJLWDO 'ROE\'LJLWDOHQDEOHVWKHGHOLYHU\RIPRQRWKURXJKFKDQQHODXGLRDWGDWDUDWHVIURPNESV
WRNESVWKXVRIIHULQJIOH[LELOLW\DQGHFRQRPLFDOSHUIRUPDQFHDVZHOODVXQFRPSURPLVHGVRXQG
TXDOLW\
%LWVWUHDP 'LJLWDODXGLRGDWDWKDWLVGHFRGHGLQWRDQDQDORJVLJQDOIRUVXEVHTXHQWRXWSXWWRVSHDNHUV
/W5W ,WLQGLFDWHV/5RI'ROE\'LJLWDO&+'RZQPL[RXWSXW
'RZQPL[ '2:10,;LVUHSURGXFLQJWKHSURSHUDXGLRZKHQDXGLRIRUPDWUHFRUGHGRQDGLVFGLIIHUVIURPWKH
RXWSXWDXGLRFKDQQHOFRQILJXUDWLRQ)RUH[DPSOHZLWKMXVWRQHVWHUHRVSHDNHUV\VWHP\RXFDQ
KHDUIXOOFKDQQHODXGLR
69,'(2 7KH69,'(2RXWSXWVHSDUDWHVWKHFRORU&DQGOXPLQDQFH<VLJQDOVEHIRUHWUDQVPLWWLQJWKHPWR
WKH79VHWLQRUGHUWRDFKLHYHDVKDUSHUSLFWXUH6RWKLVPXVWEHVHOHFWHGIURPWKHPHQXWR
HQDEOHWKH69,'(2RXWSXWWRIXQFWLRQ
&20321(17 ,WLVFDOOHGFRORUGLIIHUHQFHVLJQDODQGLVDWHFKQRORJ\WRGLYLGHDQGWUDQVPLWDFRORUVLJQDO&
LQWR%<3EDQG5<3UFRORUGLIIHUHQFHVLJQDO7KLVWHFKQRORJ\VXSSOLHVFOHDUHUDQGPRUHYLYLG
SLFWXUHWKDQFRPSRVLWHYLGHRW\SH
$ERXW'9'
+DQGOLQJ'LVF
7RNHHSDGLVFFOHDQFRQGLWLRQSOHDVHGRQRWWRXFKDVLGHFRQWDLQLQJSOD\LQIRUPDWLRQ
'RQRWDWWDFKDELWRISDSHURUVWLFN\WDSHRQLW
'RQRWH[SRVHDGLVFWRDGLUHFWVXQOLJKWRUHOHFWULFKHDWLQJV\VWHPV
$IWHUXVLQJLWSOHDVHNHHSDGLVFLQDFDVH
&OHDQLQJ'LVF
%HIRUHXVLQJLWSOHDVHUXELWIURPFHQWHUWRZDUGRXWVLGHZLWKFOHDQFORWKHV
'RQRWXVHDQ\W\SHRIVROYHQWVXFKDVWKLQQHUEHQ]ROEHQ]HQHFRPPHUFLDOFOHDQLQJ
JRRGVRUDQWLVWDWLFVSUD\V
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 58
7KH RWKHUV
+RZWRXVHDKHDGFOHDQHU
,QFDVHRIDROGRUFRQWDPLQDWHGYLGHRWDSHVFUHHQPD\QRWEHFOHDQIURPWKHFRQWDPLQDWLRQRI9&5KHDGV
3OHDVHUHPRYHFRQWDPLQDQWVXVLQJDKHDGFOHDQHUOLNHEHORZRUGHU
,QVHUWDKHDGFOHDQHULQWR9&5
3UHVV>3/$<@IRUVHFRQGVDQGWKHQSUHVV>))@IRUDERXWVHFRQGV
(MHFWDKHDGFOHDQHUIURP9&5
,IWKHVFUHHQLVQRWFOHDQ\HWSOHDVHUHSHDWWKHDERYHRUWLPHVPRUH
$KHDGFOHDQHULVQRWIRUVDOH3OHDVHDVNLWIRUWKHQHDUHVWDJHQW
,QFDVHDXVHUDVNWKHUHPRYDORIFRQWDPLQDQWVRIXVWKHXVHUVKRXOGSD\H[WUDFKDUJHV
3/$<VHFV
))VHFV
%DVLFLQIRUPDWLRQDERXW9&5DQG9LGHRWDSH
:KDWLVGHZFRQGHQVDWLRQV\PSWRP"
,ID9&5LVPRYHGIURPDFRROSODFHWRDZDUPDQGGDPSSODFHRUDSODFHIDFLQJDGLUHFWFRROZLQGIURPDLU
FRQGLWLRQHUDQGRWKHUVWHPSHUDWXUHYDULHVVKDUSO\ZKLFKPDNHVGHZRQKHDGGUXPVRI9&5
,IGHZFRQGHQVDWLRQRFFXUV
)LUVWWXUQLWRQIRURQHRUWZRKRXUVEHIRUHXVLQJLW
'RQRWXVHLWEHFDXVHLWPD\GHYHORSWURXEOHVRID9&5RUYLGHRWDSH
7HUPVUHODWHGZLWK9&5
$)7 $XWRPDWLFILQHWXQLQJDFLUFXLWWKDWDXWRPDWLFDOO\DGMXVWV79UHFHSWLRQWRRSWLPXPFRQGLWLRQ
&$%/( &DEOHWHOHYLVLRQ
,QGH[6HDUFK $IHDWXUHRIWKLV9&5WKDWDXWRPDWLFDOO\UHFRUGVDQLQGH[HDFKWLPHUHFRUGLQJEHJLQV,WKHOSV\RX
ORFDWHDSDUWLFXODUVHJPHQWRIWKHWDSHTXLFNO\DQGHDVLO\
6/3 6XSHU/RQJ3OD\DQLQWHUPHGLDWHWDSHUHFRUGLQJVSHHGWKDWFRPELQHVPRVWRIWKHSLFWXUHDXGLR
TXDOLW\REWDLQDEOHDWWKHVWDQGDUGUHFRUGLQJVSHHGZLWKVRPHRIWKHWDSHHFRQRP\RI([WHQGHG
3OD\
26' 2QVFUHHQGLVSOD\RILQIRUPDWLRQSHUWLQHQWWRWKHIHDWXUHVRIWKH9&5
275 2QHWRXFKUHFRUGLQJDIHDWXUHWKDWDOORZV\RXWRUHFRUGWKHSURJUDP\RX·UHZDWFKLQJE\SUHVVLQJ
WKH5(&NH\(DFKSUHVVRIWKHNH\LQFUHDVHVWKHUHFRUGLQJWLPHE\PLQXWHVXSWRIRXUKRXUV
5) 5DGLRIUHTXHQF\WKHFRPSRVLWHDXGLRYLGHRVLJQDOVXSSOLHGWRD79UHFHLYHURURWKHUYLGHR
FRPSRQHQWE\DQDQWHQQDRUFDEOHV\VWHP
6DIHW\WDE 7KHSODVWLFWDEDWWKHEDFNRIDYLGHRWDSHFDVVHWWHZKLFKZKHQUHPRYHGSUHYHQWVDFFLGHQWDO
HUDVXUHRIDUHFRUGLQJ
63 6WDQGDUGSOD\WKHUHFRUGLQJVSHHGWRXVHZKHQWKHEHVWSLFWXUHTXDOLW\LVRISULPHLPSRUWDQFH
DQGZKHQWRWDOUHFRUGLQJWLPHLVQRW
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 59
%HIRUHGRXEWLQJDERXWWURXEOHV'9'
7KHSOD\HUGRHVQRWSOD\
1RVRXQGFRPHVWKURXJK
$GLVFLVSOD\LQJEXWVFUHHQGRHVQRW
DSSHDURUSRRUVFUHHQDSSHDUV
6RXQGLVLUUHJXODU
5HPRWHFRQWUROGRHVQRWZRUN
'ROE\'LJLWDOVRXQGGRHVQRWZRUN
>$8',2@RU>68%7,7/(@EXWWRQGRHV
QRWZRUN
>$1*/(@EXWWRQGRHVQRWZRUNZKLOHD
'9'LVSOD\LQJ
´0(18µGRHVQRWDSSHDUZKLOHD'9'
LVSOD\LQJ
6FUHHQVKDNHVRUDSSHDUVRQO\LQEODFN
DQGZKLWHRU6XEWLWOHVKDNHV
7KHILOHQDPHRI03&'5DSSHDUV
ZLWKVWUDQJHOHWWHUV
$Q\03&'5ILOHLVQ·WGLVSOD\HG
&KHFNV6\PSWRP
➤,ID'9'LVIURPRYHUVHDVLWPD\QRWEHSOD\HG3OHDVHFKHFND'9'·VUHJLRQ
FRGHZKHWKHULWKDVWKHUHODWLYHUHJLRQFRGHRU$OO
➤3OHDVHFKHFNZKHWKHUD'9'LVLQVHUWHGLQDULJKWGLUHFWLRQ
➤,ILWLVD&'520IRU3&RU'9'520LWGRHVQRWZRUN
➤3OD\PRGHPD\EH´6/2:µRU´3$86(µ,QDEQRUPDOVSHHGSOD\QR
VRXQGFRPHVWKURXJK
➤'LG\RXFRQQHFWWKHSDUWVLQULJKWZD\"
➤3OHDVHFKHFNWKHRSHUDWLYHFRQGLWLRQRI79RUDPSOLILHU
➤)URP6(783SOHDVHFKHFN´$8',2µLWHPV
➤'LG\RXWXUQRQ\RXU79VHWV"
➤'LG\RXFRQQHFWWKHSDUWVLQULJKWZD\"
➤7KHSOD\PD\EHLQ´3$86(µ
➤$GLVFPD\KDYHVRPHFRQWDPLQDQWVRUEHGDPDJHG
➤$GLVFPD\EHEDGRQH
➤3OHDVHFKHFNWKHFRQQHFWLRQZLWK'ROE\'LJLWDODPSOLILHU
➤3OHDVHFKHFNWKHSOXJVDUHFRQQHFWHGZLWKRQHDQRWKHUWLJKWO\
➤6RPHFRQWDPLQDQWVPD\EHUHPDLQHGLQFRQQHFWLRQWHUPLQDO
➤3OHDVHFKHFNWKHGHJUHHRIUHPRWHFRQWUROGLVWDQFHRUDQ\LQWHUUXSWLRQ
➤%DWWHU\PD\EHZHDNRUH[KDXVWHG
➤:KHQ\RXRSHUDWH'9'XVHLWE\SUHVVLQJ>'9'@EXWWRQ
➤8QSOXJWKHSRZHUSOXJDQGSOXJLWDJDLQ
➤'ROE\'LJLWDOVRXQGFDQEHZRUNHGLQWKH'ROE\'LJLWDODPSOLILHURQO\
➤3OHDVHFKHFN´'ROE\'LJLWDOµPDUNRQ\RXU'9'
➤,QFDVHRISOD\LQJLWWKURXJKGLJLWDORXWSXWZKLOHSUHVVLQJ>6723@
SOHDVHFKHFNZKHWKHU´',*,7$/287387µLV´%,7675($0µE\SUHVVLQJ
>6(783@
➤3OHDVHFKHFNWKHFRQQHFWLRQLVFRUUHFW
➤,ID'9'GRHVQRWLQFOXGHODQJXDJHLQIRUPDWLRQLWGRHVQRWVXSSRUW
WKHIXQFWLRQ
➤´$1*/(µLVVXSSRUWHGRQO\LQD'9'FRQWDLQVPXOWLDQJOHVFHQHV$OVRD
XVHUFDQFRQILUPWKHVXSSRUWZLWKWKH´$1*/(µPDUNRQVFUHHQ
➤3OHDVHFKHFNWKHGHJUHHRIUHPRWHFRQWUROGLVWDQFHRUDQ\
LQWHUUXSWLRQ
➤3OHDVHFKHFNDEDWWHU\LQUHPRWHFRQWUROZKHWKHULWLVH[KDXVWHGRU
QRW
➤$'9'PD\QRWFRQWDLQPHQXLQIRUPDWLRQ
➤$GLVFPD\KDYHVRPHFRQWDPLQDQWVRUEHGDPDJHG
➤,I\RXSOD\EDFND'9'GLVFRI3$/V\VWHPZKRVHUHJLRQFRGHLV´$//µ
WKHSOD\EDFNVFUHHQPD\VKDNH
➤7KHILOHQDPHRI03UHFRJQL]HRQO\WKH$OSKDEHW$a=Da]QXPEHUV
aDQGDVSHFLDOV\PERORQNH\ERDUGa#DQG
OHWWHUVFDQEHGLVSOD\HGLQPD[LPXP
➤7KHOHWWHUVH[FHSWDERYHFDVHZLOOEHGLVSOD\HGOLNH´µ
➤,IWKHVXUIDFHRIGLVNLVLQMXUHGWKHILOHGLVSOD\DQGSOD\EDFNFDQEH
LPSRVVLEOH
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 60
7KH RWKHUV
%HIRUHGRXEWLQJDERXWWURXEOHV9&5
´3RZHU2QµGRHVQRWZRUN
,WGRHVQRWZRUNHYHQLQ´3RZHU2Qµ
$YLGHRWDSHLVQRWLQSXWWHGLQ
2QLQSXWWLQJDYLGHRWDSHWKHWDSHLV
UHHMHFWHG
$YLGHRWDSHLVQRWHMHFWHG
$FKDQQHORQYLGHRDQGDSOD\VFUHHQ
GRHVQRWDSSHDU
1RLVHVFUHHQQRLVHDSSHDUVRQ
VFUHHQ
1RLVHDSSHDUVRQVFUHHQDIWHU
UHFRUGLQJ
:KLOHLQSOD\LQJQRLVHDSSHDUV
6RXQGDQGVFUHHQDUHLUUHJXODU
6RXQGFRPHVRXWEXWVFUHHQGRHVQRW
DSSHDU
6FUHHQLVLUUHJXODUDQGVWULSHVDSSHDUV
6FUHHQ(UURUPHVVDJHLVGLVSOD\HGLQ
DVFUHHQ
:KLOHUHFRUGLQJDQGSOD\LQJWKHWRS
RIVFUHHQH[WUHPHO\ZDYHV
$VFUHHQLVQRWFOHDU
$VFUHHQDWSDXVHLVWUHPEOLQJRUVORZ
VFUHHQLVQRWFOHDU
&KHFNV6\PSWRP
➤3OHDVHFKHFNZKHWKHUDSRZHUSOXJLVLQVHUWHGLQDQHOHFWULFRXWOHW
➤3OHDVHFKHFNZKHWKHUDYLGHRWDSHLVLQVHUWHGLQ
➤7U\WRLQVHUWDSOXJDJDLQ
➤3OHDVHFKHFNZKHWKHUDSRZHUSOXJLVLQVHUWHGLQDQHOHFWULFRXWOHW
➤3OHDVHFKHFNZKHWKHUDYLGHRWDSHLVLQ
➤3OHDVHFKHFNZKHWKHUDYLGHRWDSHLVLQVHUWHGLQDULJKWGLUHFWLRQD
VLGHRIWUDQVSDUHQWZLQGRZVKRXOGEHRQWKHXSVLGH
➤+DYH\RXLQSXWWHGDYLGHRWDSHDJDLQMXVWDIWHUWKHWDSHZDVHMHFWHG"
3OHDVHWU\LWDJDLQDIWHUIXOO\HMHFWLQJLW
➤:KHQDYLGHRWDSHIRUFHVWREHHMHFWHGWKHWDSHPD\QRWEHLQSXWWHG
,QWKHFDVHSOHDVHSXOORXWDQRXWOHWDQGWKHQSXVKWKHWDSH
VPRRWKO\
➤7KDW·VZK\DVDIHPRGHWRSURWHFWDYLGHRWDSHLVRSHUDWHG
DXWRPDWLFDOO\3OHDVHSXOORXWWKHWDSHDQGLQSXWLWDJDLQ
➤,QFDVHWKHSURGXFWLVXVHGIRUDORQJWLPHDYLGHRWDSHPD\QRWEHHMHFWHG
IRUDILOPLQVLGHPD\EHVWUHWFKHG,QWKHFDVHSOHDVHSXOORXWDSRZHUSOXJ
IRUDERXWPLQVDQGWKHQSUHVV>(-(&7@EXWWRQ
➤3OHDVHFKHFN\RXUDQWHQQD·VFRQQHFWLRQ
➤79FKDQQHOVKRXOGEHIL[HGRQYLGHRFKDQQHORU
➤3OHDVHFKHFN\RXUDQWHQQD·VVLJQDOZKHWKHULWPD\EHZHDN,QFDVHRI
LWVZHDNQHVVSOHDVHXVHDIUHTXHQF\DPSOLILHUFRQQHFWHGZLWKWKH
GHYLFH
➤3UHVV>799&5@DQGWKHQOHW´9&5µLVGLVSOD\HGRQWKHGLVSOD\SDQHO
➤:KLOHLQQRXVHRI9&5ZDVLWWXUQHGRQ"
➤:KLOHLQUHFRUGLQJDSURJUDPGR\RXZDWFKDQRWKHUFKDQQHO"
➤6HOHFW79E\SUHVVLQJ>799&5@EXWWRQRQUHPRWHFRQWURO
➤:KLOHLQSOD\LQJDYLGHRWDSHWKHUHPD\KDSSHQVRPHQRLVHRUEORWLQ
WKHSDUWRIWKHEHJLQQLQJRIDYLGHRWDSHRUUHVXPLQJ´3$86(µZKLFK
DUHQRWEUHDNGRZQ
➤3OHDVHSUHVV>75$&.,1*@IRUEHWWHUVFUHHQ9LGHRWDSHPD\EHSRRU
7U\WRFKDQJHLWWRDQRWKHURQH
➤3OHDVHXVHDKHDGFOHDQHUWRFOHDQ9&5KHDGV9&5KHDGVPD\EH
FRQWDPLQDWHG
➤6LQFH9&53OD\VLJQDOVDUHQRWVWDEOHOLNHD79VLJQDOVVFUHHQPD\EH
XQVWDEOHRUFXUYHGZKLOHLQSOD\LQJ7RIL[WKHSUREOHPSOHDVH
KRUL]RQWDODGMXVWPHQW
➤,QFDVHYLGHRWDSHLVWKHRQHUHFRUGHGE\RWKHUSURGXFWVRUROGRQH
VWULSHPD\DSSHDURQWKHVFUHHQ
➤7U\WRDGMXVWWKHVFUHHQE\>75$&.,1*²@EXWWRQ
➤7U\WRXVHDKHDGFOHDQHU
➤7U\WRXVHDKHDGFOHDQHU
➤7U\WRDGMXVWWKHVFUHHQE\>75$&.,1*²@EXWWRQ
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 61
%HIRUHGRXEWLQJDERXWWURXEOHV9&5
5HFRUGLQJD79SURJUDPLVLPSRVVLEOH
2QFHSUHVVLQJ>5(&@DYLGHRWDSHLV
HMHFWHGDXWRPDWLFDOO\
7LPHUUHFRUGLQJRI&DEOH79GRHVQRW
ZRUN
,QVSLWHRISUHVVLQJ>&+$11(/@D
FKDQQHOFDQQRWEHVHW
:KLOHGXSOLFDWLQJVFUHHQLVQRWFOHDQ
DQGGLVWRUWHG
UHPRWHFRQWUROGRHVQRWZRUN
%XWWRQVRQUHPRWHFRQWUROGRQRW
ZRUN
9,66LQGH[VHDUFKGRHVQRWZRUN
&DEOHEURDGFDVWLQJFDQQRWEH
VHOHFWHG
&KHFNV6\PSWRP
➤3OHDVHFKHFNZKHWKHUDFKDQQHOLVIL[HGRQYLGHR,IQRW\RXKDYHWR
WXUQLWLQWR´79µE\SUHVVLQJ>287387@EXWWRQ
➤3OHDVHFKHFNZKHWKHUWKHWLPHUUHFRUGLQJLQIRLVULJKW
➤$UH5)FDEOHVLQSXWWHGDQWHQQDFRQQHFWLRQWHUPLQDOFRUUHFWO\"
➤'RHVD&+QXPEHUVHOHFWHGLQGLVSOD\VHFWLRQDSSHDU"
➤3OHDVHFKHFNDWDERQDWDSHZKHWKHULWLVEURNHQRUQRW,ILWZDV
EURNHQSOHDVHVFRWFKWDSHLW
➤&KHFNZKHWKHUWKHVFUHHQLVGLVSOD\HGLQ9&52QO\&KDQQHO3UHVV
>287387@EXWWRQLQWKLVUHPRWHFRQWUROOHUWRDGMXVWLQ*HQHUDO
%URDGFDVWFRQGLWLRQ
➤,VWKHURXQGHGOLQH5)FDEOHFRQQHFWHGLQ$17,1WHUPLQDO"
➤3OHDVHFKHFNZKHWKHUWKHFORFNLVULJKW
➤'RHVWKHGLVSOD\RQ\RXUYLGHRVKRZ´ µ5HDG\WRWLPHUUHFRUGLQJ"
3OHDVHPDNHLWRXW
➤3OHDVHFKHFNZKHWKHUWKHWLPHUUHFRUGLQJLQIRLVULJKW
➤3OHDVHFKHFNDWDERQDWDSHZKHWKHULWLVEURNHRUQRW,ILWZDV
EURNHQSOHDVHVFRWFKWDSHLW
➤:DVDFDEOHGDWDRXWSXWFRGHFRQQHFWHGFRUUHFWO\"
➤:HUHDFRQYHUWHUPDQXIDFWXUHUVHWXSDQGRXWSXWFKDQQHOULJKW"
➤'LG\RXHQWHUDSDVVZRUG"3OHDVHFDQFHOLW
➤'LG\RXWXUQRII\RXUSOD\HU"3OHDVHWXUQLWRQ
➤<RXPD\QRWPHPRUL]HFKDQQHOV
➤3OHDVHFKHFN\RXUFKDQQHOVHWWLQJRUSUHVVDQXPEHUEXWWRQ
➤6RPHWDSHVRUGLVFVGLVWULEXWHGLQWKHPDUNHWIRUOHQGLQJLVVHWWR
SUHYHQWFRS\LQPDQXIDFWXULQJ7KHVHWDSHVFDQQRWEHGXSOLFDWHGLQ
DJRRGFRQGLWLRQ
➤%DWWHU\PD\EHZHDNRUH[KDXVWHG
➤$UHFHLYHURIUHPRWHFRQWUROPD\EHGLIIHUHQWZLWKDVHQGHU
➤,QFDVHDYLGHRWDSHLVSRVLWLRQHGLQWKHEHJLQQLQJ´9,665(:µDQG
´5(:µGRQRWZRUN
➤,QFDVHDYLGHRWDSHLVSRVLWLRQHGLQWKHHQG´))µ´9,66))µ´3/$<µ
DQG´5(&µGRQRWZRUN
➤3OHDVHFKHFNZKHWKHUDQRWKHUEXWWRQLVSUHVVHG
➤$UH\RXSOD\LQJDWDSHWKDWLVQRWUHFRUGHGLQWKLVUHFRUGHU"7U\WR
UHFRUGLWZLWKWKHUHFRUGHU
➤<RXPD\VWDUWUHFRUGLQJLWLQ´5(&3$86(µ3OHDVHVWDUWUHFRUGLQJLW
IURPVWRSFRQGLWLRQ
➤3OHDVHVHOHFW´&$%/(µQRW´1(7:25.µIURPWKH´&+$11(/6(77,1*µ
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 62
7KH RWKHUV
$QDORJXH$XGLRRXWSXW .+]VDPSOLQJ .+]VDPSOLQJ .+]VDPSOLQJ
'LJLWDO$XGLRRXWSXW .+]VDPSOLQJ .+]VDPSOLQJ .+]VDPSOLQJ
'9'$XGLRRXWSXWVWDQGDUGV
6SHFLILFDWLRQV
3RZHU $&9+]
&RQVXPHGHOHFWULFLW\ :VXSSOHPHQWDU\:
:HLJKW NJ
'LPHQVLRQ:[+[' PP[PP[PP
2SHUDWLYHWHPSHUDWXUH &a&
,QVWDOODWLRQFRQGLWLRQ +RUL]RQWDO5HODWLYHKXPLGLW\XQGHU
5HFHLYHGFKDQQHOV 9+)&+8+)&+&DEOH
6LJQDOW\SH 176&&2/25
$QWHQQD,QSXWRXWSXW 89PL[HGXQEDODQFHG
9,'(2LQSXW 9SSXQEDODQFHG5&$-$&.
$8',2LQSXW G%P5&$-$&.
9+)RXWSXW RU&+
9,'(2RXWSXW
FRPPRQXVHRI'9'DQG9&5
9,'(2RXWSXWWHUPLQDO9SSXQEDODQFHG5&$-$&.
9,'(2RXWSXW'9'RQO\ 69,'(2RXWSXW,QORDG<9SS&9SS
&20321(17RXWSXW,QORDG<9SS3E9SS3U9SS
$8',2RXWSXW
FRPPRQXVHRI'9'DQG9&5
$XGLRRXWSXWWHUPLQDONLQGVG%P9&59UPV'9'5&$-$&.
$8',2RXWSXW'9'RQO\ $QDORJXH$8',2RXWSXW&+9UPV
'LJLWDODXGLRRXWSXW&2$;,$/
3OD\DEOHWDSH 9HU\KLJKGHQVHWDSHVZLWK9+6PDUNV
3OD\DEOHGLVF '9'9,'(2&'&'PP&'PP03&'5&'5:
7DSHVSHHG 63PPV6/3PPV
3OD\WLPH 63KUV6/3KUVXVHRI7WDSH
&ORFNGLVSOD\ KUV$030
7LPH5HFRUGLQJ SURJUDPVD\HDU
9,'(2619&5 2YHUG%6WDQGDUGUHFRUGLQJ
5HVROXWLRQ9&5 2YHUOLQHV6WDQGDUGUHFRUGLQJ
'9' 2YHUOLQHV'9''LVF3/$<
$8',29&5 2YHUG%+L)LRYHUG%0RQR
$8',2'9' G%
$8',2G\QDPLFUDQJH G%
2XWSXW 'LVFW\SH
'9' 9,'(2&' &'
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 63
:DUUDQW\
'($0'DHZRR(OHFWURQLFV$PHULFDZDUUDQWVHDFKQHZHOHFWURQLFSURGXFWPDQXIDFWXUHGE\LWWREHIUHHIURP
GHIHFWLYHPDWHULDODQGZRUNPDQVKLSDQGDJUHHVWRUHPHG\DQ\VXFKGHIHFWRUWRIXUQLVKDQHZSDUWDWWKH
&RPSDQ\·VRSWLRQLQH[FKDQJHIRUDQ\SDUWRIDQ\XQLWRILWVPDQXIDFWXUHZKLFKXQGHUQRUPDOLQVWDOODWLRQ
XVHDQGVHUYLFHGLVFORVHGVXFKGHIHFWSURYLGHGWKHXQLWLVGHOLYHUHGE\WKHRZQHUWRXVRUWRRXUDXWKRUL]HG
GLVWULEXWRUIURPZKRPSXUFKDVHGRUDXWKRUL]HGVHUYLFHVWDWLRQLQWDFWIRURXUH[DPLQDWLRQZLWKDOO
WUDQVSRUWDWLRQFKDUJHVSUHSDLGWRRXUIDFWRU\7RHVWDEOLVKDQGUHFHLYHZDUUDQW\VHUYLFHDWRXUIDFWRU\RU
DXWKRUL]HGVHUYLFHIDFLOLWLHVSURRIRISXUFKDVHGDWHGVDOHVLQYRLFHLVUHTXLUHG:ULWWHQDXWKRUL]DWLRQPXVWEH
REWDLQHGEHIRUHDQ\PHUFKDQGLVHLVUHWXUQHGWRWKHIDFWRU\
7KLVZDUUDQW\GRHVQRWH[WHQGWRDQ\RIRXUHOHFWURQLFSURGXFWVZKLFKKDYHEHHQVXEMHFWHGWRPLVXVH
QHJOHFWDFFLGHQWLQFRUUHFWZLULQJQRWRXURZQLPSURSHULQVWDOODWLRQXQDXWKRUL]HGPRGLILFDWLRQRUXVHGLQ
YLRODWLRQRILQVWUXFWLRQVIXUQLVKHGE\XVQRUXQLWVZKLFKKDYHEHHQUHSDLUHGRUDOWHUHGRXWVLGHRIRXUIDFWRU\
QRUWRFDVHVZKHUHWKHVHULDOQXPEHUWKHUHRIKDVEHHQUHPRYHGGHIDFHGRUFKDQJHG
7KLVZDUUDQW\LVLQOLHXRIDOOZDUUDQWLHVH[SUHVVHGRULPSOLHGDQGQRUHSUHVHQWDWLYHRUSHUVRQLVDXWKRUL]HGWR
DVVXPHIRUXVDQ\RWKHUOLDELOLW\LQFRQQHFWLRQZLWKWKHVDOHRIRXUHOHFWURQLFSURGXFWV
2YHUWKHFRXQWHUH[FKDQJHRILQLWLDOO\GHIHFWLYHXQLWV
$XQLWLVGHVFULEHGDVLQLWLDOO\GHIHFWLYHZKHQWKHGHDOHURSHQVWKHXQLWDQGILQGVWKDWLWLVLQRSHUDWLYHRUD
FXVWRPHURSHQLQJDQHZXQLWILQGVWKDWLWLVLQLWLDOO\GHIHFWLYH7KLVXQLWPD\EHUHWXUQHGWRWKHIDFWRU\E\WKH
GHDOHUIRUH[FKDQJH8QGHUQRFLUFXPVWDQFHVZLOODFXVWRPHUEHSHUPLWWHGWRUHWXUQDQLQLWLDOO\GHIHFWLYHXQLW
GLUHFWO\WRWKHIDFWRU\
0RGHO 3DUWV /DERU
'971'97%'971'97%
'971'97%'971'97% <HDU PRQWKV
7KLVLQVWUXPHQWLVOLVWHGE\8QGHUZULWHU·V/DERUDWRULHV,QF,WLV
GHVLJQHGDQGPDQXIDFWXUHGWRPHHWULJLG8/VDIHW\VWDQGDUGV
DJDLQVW;UDGLDWLRQILUHFDVXDOW\DQGHOHFWULFDOKD]DUGV
'DHZRR(OHFWURQLFV
$PHULFD,QF
&KXEE$YH
/\QGKXUVW1-86$
)RUPRUHLQIRUPDWLRQDERXWWKLVRURWKHU
'DHZRRSURGXFWVFDOO'$(:22
DV8T911N-QJ 03.4.15 5:18 AM ˘ ` 64