Belkin F5D82334D N Wireless Router User Manual

Belkin International, Inc. N Wireless Router

User manual

1
:
L
U
H
O
HVV
5RX
W
HU
7
DE
O
H
R
I
&R
QW
H
QW
V
L
 ,QWURGXFW
L
RQ
 $GYDQWD
J
HVRID:LUHOHVV1HWZRU
N

 3ODFHPHQWRI
RXU1:LUHOHVV5RXWH

 3U
RGXF
W
2
Y
H
UYL
H
Z

3U
RGXF
W)
HD
W
X
U
HV

 .QRZLQJ\RXU5RXWHU
 3DFNDJH
&
RQWHQWV

6
\VWHP5HTXLUHPHQWV

6
HWXS$VVLVWDQW
6
RIWZDUH
6
\VWHP5HTXLUHPHQW
V
 &RQQHFWLQ
J
DQG&RQIL
J
XULQ
J
\RXU5RXWHU

 $OWHUQDWH6HWX
S
0HWKRG

 8VLQ
J
WKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH


 &KDQ
J
LQ
J
/$16HWWLQ
JV


 9LHZLQ
J
WKH'+&3&OLHQW/LVW3D
JH



&
RQILJXULQJWKH:LUHOHVV1HWZRUN
6
HWWLQJ
V
 


6
HWWLQJ:3$
6
HFXULW
\



6
HWWLQJ:(3(QFU\SWLR
Q

8
V
L
QJW
K
H
$
FFHVV
3
R
L
QW
0
R
GH
 6HWWLQ
J
0$&$GGUHVV&RQWUR
O


 &RQIL
J
XULQ
J
WKH)LUHZDO
O


 8VLQ
J
'\QDPLF'1
6



8
WLOLWLHV


 5HVWDUWLQ
J
WKH5RXWH
U



8
S
G
DW
L
QJW
K
H
)L
UPZDU
H
 

 0DQXDOO\&RQ
I
LJXULQJ1HWZRUN6HWWLQJV
 5HFRPPHQGHG:HE%URZVHU
6
HWWLQJV

 7URXEOHVKRRWLQJ
,QI
R
UPDWL
R
Q


VHF
W
LR
Q
,QWU
RGXF
W
LR
Q

7
KDQN\RXIRUSXUFKDVLQ
J
WKH%HONLQ1:LUHOHVV5RXWHU
WKH5RXWHU
)ROORZLQ
J
DUHWZRVKRUWVHFWLRQVŏWKH
I
LUVWGLVFXVVHVWKHEHQH
I
LWVR
I
KRPH
Q
HWZRUNLQJDQGWKHRWKHURXWOLQHVEHVWSUDFWLFHVWKDWPD[LPL]H\RXU
ZLUHOHVVKRPHQHWZRUNUDQJHDQGSHUIRUPDQFH3OHDVHEHVXUHWRUHDG
W
KURXJKWKLV8VHU0DQXDOFRPSOHWHO\DQGSD\VSHFLDODWWHQWLRQWRWKH
V
HFWLRQHQWLWOHGœ3ODFHPHQWRI\RXU1:LUHOHVV5RXWHUŔRQWKHQH[WSDJH
%\
I
ROORZLQJRXUVLPSOHVHWXSLQVWUXFWLRQV\RXZLOOEHDEOHWRXVH\RXU
%HONL
Q
+R
P
H
1H
WZ
R
U
N
W
R
Ř
6
KDUHRQHKL
J
KVSHHG,QWHUQHWFRQQHFWLRQZLWKDOOWKHFRPSXWHUV
L
Q\RXU
K
RP
H
Ř
6
KDUHUHVRXUFHVVXFKDVILOHVDQGKDUGGULYHVDPRQ
J
DOOWKH
FRQQHFWHGFRPSXWHUVLQ\RXUKRP
H
Ř 6KDUHDVLQJOHSULQWHUZLWKWKHHQWLUHIDPLO
\
Ř 6KDUHGRFXPHQWVPXVLFYLGHRDQGGLJLWDOSLFWXUH
V
Ř 6WRUHUHWULHYHDQGFRS
\
ILOHVIURPRQHFRPSXWHUWRDQRWKH
U
Ř
6
LPXOWDQHRXVO\SOD\JDPHVRQOLQHFKHFN,QWHUQHWHPDLODQGFKDW
$
GYDQWD
J
HVRID:LUHOHVV1HWZRU
N
+HUHDUHVRPHRIWKHDGYDQWDJHVRIVHWWLQJXSD%HONL
Q
:L
UH
O
HVV
1
HWZRU
N
Ř
0
R
ELOL
W
\
Ŏ
\RX
őOO
QR
O
RQJHUQHH
G
D
G
H
GL
FDWH
G
œ
FRPSXWH
U
URRP
Ŕ
ŏQRZ
\
RXFDQZRU
N
RQDQHWZRU
N
H
G
O
DSWRSRU
G
HV
N
WRS
FRPSXWHUDQ\Z
K
HUHZ
L
W
KL
Q\RXUZ
L
UH
O
HVVUDQ
JH
Ř 
(
DV
\
L
QVWD
OO
DW
L
RQ
Ŏ
%
H
ONL
Q
ő
V
(
DV\
,
QVWD
OO
DW
L
RQ
:L
]DU
G
PD
N
H
V
V
HWXSVLPSO
H
Ř )OH[LELOLW\
Ŏ
VHWXSDQGDFFHVVSULQWHUVFRPSXWHUVDQGRWKHU
Q
HWZRUNLQJGHYLFHVIURPDQ\ZKHUHLQ\RXUKRP
H
Ř
(DV\H[SDQVLRQ
Ŏ
WKHZLGHUDQJHRI%HONLQQHWZRUNLQJSURGXFWV
O
HW
\
RXH[SDQ
G
\
RXUQHWZRU
N
WR
L
QF
O
X
G
H
G
HY
L
FHVVXF
K
DVSU
L
QWHUV
DQ
G
JDP
L
QJFRQVR
O
H
V
Ř
1
RFD
EOL
QJUHTX
L
UH
G
Ŏ
\
RXFDQVSDUHWKHH[SHQVHDQGKDVVOHR
I
UHWUR
I
LWWLQ
J
(WKHUQHWFDEOLQ
J
WKURX
J
KRXWWKHKRPHRUR
II
LF
H
Ř 
:LG
HV
S
UHD
G
L
Q
G
XVWU
\
DFFH
S
WDQFH
Ŏ
FKRRVH
I
URPDZLGHUDQ
J
HR
I
LQWHURSHUDEOHQHWZRUNLQ
J
SURGXFW
V
,QWURGXFWLRQ
5HYROXWLRQDU\1:LUHOHVV7HFKQRORJ\ZLWK0,0
2
10,0
2
<
RXU%HONLQ1:LUHOHVV5RXWHUXVHVDQHZVPDUWDQWHQQDWHFKQROR
J
\FDOOHG
0XOWLSOH,QSXW0XOWLSOH2XWSXW0,0210,02FRPSOLHVZLWKWKH,(((GUDIW
QVSHFLILFDWLRQ,WLQFUHDVHVVSHHGUDQJHUHOLDELOLW\DQGVSHFWUDO
HIILFLHQF\IRUZLUHOHVVQHWZRUNLQJV\VWHPV
7
KHHOHPHQWWKDWPDNHV%HONLQőV10,02WHFKQRORJ\GLIIHUHQWIURPD
FRQYHQWLRQDOUDGLRLVWKHXVHR
I
PXOWL
S
OHDQWHQQDVDQGWZRVLPXOWDQHRXV
GDWDVWUHDPVWRGHOLYHUZLUHOHVVWUDQV
I
HUVDURXQG
\
RXUKRPHRUR
II
LFH$
FR
QY
H
QW
LR
Q
DO
U
DGLR
XVHV
R
Q
H
D
QW
H
QQ
D
W
R
WU
D
Q
V
P
L
W
D
GD
W
D
V
WU
HD
P
%HONL
Q
őV
1
0,0
2
RQWKHRWKHUKDQGXVHVWZRDQWHQQDV7KLVGHVL
J
QKHOSVFRPEDW
GLVWRUWLRQDQGLQWHUIHUHQFH%HONLQőV10,02LVPXOWLGLPHQVLRQDO,WEXLOGVRQ
RQHGLPHQVLRQDOVPDUWDQWHQQDWHFKQRORJ\E\VLPXOWDQHRXVO\WUDQVPLWWLQJ
W
ZRGDWDVWUHDPVWKURXJKWKHVDPHFKDQQHOZKLFKLQFUHDVHVZLUHOHVV
FDSDFLW
\
$
QRWKHUHOHPHQWWKDWHQKDQFHV%HONLQőV10,02LVWKHXVHRIDJJUHJDWLRQ
DVVSHFL
I
LHGLQWKHGUD
I
WQVSHFL
I
LFDWLRQ%\VKRUWHQLQ
J
WKHVSDFH
E
HWZHHQSDF
N
HWVDQ
G
FRP
EL
Q
L
Q
J
PX
O
W
L
S
O
HVPD
OO
HUSDF
N
HWV
L
QWRRQH
O
DU
J
HU
S
DFNHW%HONLQőV10,0
2
FDQWUDQVPLWPRUHGDWDWKURX
J
KDYDLODEOH
ED
Q
G
Z
LG
W
K

7
KLQNR
I
FRQYHQWLRQDOUDGLRWUDQVPLVVLRQDVDWZRODQHKL
J
KZD\7KHVSHHG
OLPLWJRYHUQVWKHPD[LPXPDOORZDEOHIORZRIWUDIILFWKURXJKWKDWODQH
&RPSDUHGZLWKFRQYHQWLRQDOUDGLRVRQHGLPHQVLRQDOVPDUWDQWHQQDV
\
VWHPV
K
HOSPRYHWUDIILFWKURXJKWKDWODQHIDVWHUDQGPRUHUHOLDEO\ŏDQDORJRXVWR
DIRXUODQHURDGRQZKLFKWUDIILFFRQVLVWHQWO
\
PRYHVDWDUDWHFORVHUWRWKH
VS
HHGOLPLW%HONLQőV10,0
2
KHO
S
VWUDIILFPRYHDWWKHV
S
HHGOLPLWDQGR
S
HQV
P
RUHODQHVŏWREHFRPHWKHVXSHUKL
J
KZD\LQWKLVH[DPSOH7KHUDWHR
I
WUD
II
LF
I
ORZLVPXOWLSOLHGE\WKHQXPEHUR
I
ODQHVWKDWDUHRSHQHG
3ODFHPHQWRI\RXU1:LUHOHVV5RXWHU
,PSRUWDQW)DFWRUV
I
RU3ODFHPHQWDQG6HWXS
<
RXUZLUHOHVVFRQQHFWLRQZLOOEHVWURQJHUWKHFORVHU\RXUFRPSXWHULVWR\RXU
5RXWHU7\SLFDOLQGRRURSHUDWLQJUDQJHIRUZLUHOHVVGHYLFHVLVEHWZHHQ
DQG
I
HHW
,
QWKHVDPHZD\\RXUZLUHOHVVFRQQHFWLRQDQGSHU
I
RUPDQFHZLOOGH
J
UDGH
V
RPHZ
K
DWDVW
K
H
GL
VWDQFH
E
HWZHHQ\RXU
5
RXWHUDQ
G
FRQQHFWH
G
G
HY
L
FHV
LQFUHDVHV7KLVPD\RUPD\QRWEHQRWLFHDEOHWR\RX$V\RXPRYH
I
XUWKHU
I
URP\RXU5RXWHUFRQQHFWLRQVSHHGPD\GHFUHDVH)DFWRUVWKDWFDQZHDNHQ
V
LJQDOVVLPSO\E\JHWWLQJLQWKHZD\RI\RXUQHWZRUNőVUDGLRZDYHVDUHPHWDO
DSSOLDQFHVRUREVWUXFWLRQVDQGZDOOV
VHFWLRQ
,QWURGXFWLRQ

,
I\RXKDYHFRQFHUQVDERXW\RXUQHWZRUNőVSHUIRUPDQFHWKDWPLJKW
EHUHODWHGWRUDQJHRUREVWUXFWLRQ
I
DFWRUVWU\PRYLQJWKHFRPSXWHU
W
RD
S
RVLWLRQEHWZHHQ
I
LYHDQG
I
HHW
I
URPWKH5RXWHULQRUGHUWRVHH
L
I
GLVWDQFHLVWKHSUREOHP,
I
GL
II
LFXOWLHVSHUVLVWHYHQDWFORVHUDQ
J
H
SOHDVHFRQWDFW%HONLQ7HFKQLFDO
6
XSSRUW
1
R
W
H
:KLO
H
VR
P
H
RI
WK
H
LW
H
P
V
OL
V
W
HG
EH
O
R
Z
FD
Q
DIIHF
WQ
H
WZ
R
UN
SHUIRUPDQFHWKH\ZLOOQRWSURKLELW\RXUZLUHOHVVQHWZRUNIURP
I
XQFWLRQLQJLI\RXDUHFRQFHUQHGWKDW\RXUQHWZRUNLVQRWRSHUDWLQJDW
LWVPD[LPXPHIIHFWLYHQHVVWKLVFKHFNOLVWPD
\
KHOS

5RX
W
H
U3OD
FH
P
H
QW
3ODFH
\
RXU5RXWHUWKHFHQWUDOFRQQHFWLRQSRLQWR
I
\
RX
U
Q
HWZRUNDVFORVHDVSRVVLEOHWRWKHFHQWHUR
I
\
RXUZLUHOHVV
QH
WZ
R
U
N
GH
Y
LFHV
7RDFKLHYHWKHEHVWZLUHOHVVQHWZRUNFRYHUD
J
H
I
RU\RXUœZLUHOHVV
F
OLHQWVŔ
LHFRPSXWHUVHQDEOHGE\%HONLQ:LUHOHVV1RWHERRN
1HWZRUN&DUGV:LUHOHVV'HVNWRS1HWZRUN&DUGVDQG:LUHOHVV
8
6%$GDSWHUV
Ř (QVXUHWKDW\RXU5RXWHUőVQHWZRUNLQJDQWHQQDVDUHSDUDOOHO
W
RHDFKRWKHUDQGDUHSRVLWLRQHGYHUWLFDOO
\
WRZDUGWKH
F
HLOLQJ
,I\RXU5RXWHULWVHOILVSRVLWLRQHGYHUWLFDOO\SRLQWWKH
D
QWHQQDVDVPXF
K
DV
S
RVV
LEO
H
L
QDQX
S
ZDU
G
GL
UHFW
L
RQ
Ř ,QPXOWLVWRU\KRPHVSODFHWKH5RXWHURQD
I
ORRUWKDWLVDV
F
ORVHWRWKHFHQWHUR
I
WKHKRPHDVSRVVLEOH7KLVPD\PHDQ
SODFLQ
J
WKH5RXWHURQDQXSSHU
I
ORRU
Ř 7U\QRWWRSODFHWKH5RXWHUQHDUDFRUGOHVV*+]SKRQH
 $YRLG2EVWDFOHVDQG,QWHU
I
HUHQFH
$
YRLGSODFLQJ\RXU5RXWHUQHDUGHYLFHVWKDWPD\HPLWUDGLR
œ
QR
L
VH
Ŕ
VXF
K
DVP
L
FURZDYHRYHQV
'
HQVHR
EM
HFWVW
K
DWFDQ
L
Q
KLEL
W
Z
L
UH
O
HVVFRPPXQ
L
FDW
L
RQ
L
QF
O
X
G
H
Ř 5H
I
UL
J
HUDWRUV
Ř :DVKHUVDQG
RUGU\HU
V
Ř
0H
W
DO
FDEL
Q
H
W
V
Ř /DU
J
HDTXDULXP
V
Ř 0HWDOOLFEDVHG89WLQWHGZLQGRZ
V
,I\RXUZLUHOHVVVLJQDOVHHPVZHDNLQVRPHVSRWVPDNHVXUHWKDW
R
EMHFWVVXFKDVWKHVHDUHQRWEORFNLQJWKHVLJQDOőVSDWKEHWZHHQ
\
RXUFRPSXWHUVDQG5RXWHU
,QWURGXFWLRQ

&
RUGOHVV3KRQH
V
,
IWKHSHUIRUPDQFHRI
\
RXUZLUHOHVVQHWZRUNLVLPSDLUHGDIWHU
DWWHQ
GL
QJWRW
K
HD
E
RYH
L
VVXHVDQ
G
\RX
K
DYHDFRU
GO
HVVS
K
RQH
Ř 7U\PRYLQJFRUGOHVVSKRQHVDZD\
I
URP\RXU5RXWHUDQG\RXU
Z
L
UH
O
HVVHQD
EO
H
G
FRP
S
XWHUV
Ř 8QSOX
J
DQGUHPRYHWKHEDWWHU\
I
URPDQ\FRUGOHVVSKRQH
WKDWRSHUDWHVRQWKH
*
+]EDQG
FKHFNPDQXIDFWXUHUőV
LQIRUPDWLRQ
,IWKLVIL[HVWKHSUREOHP\RXUSKRQHPD
\
E
HLQWHUIHULQJ
Ř ,I\RXUSKRQHVXSSRUWVFKDQQHOVHOHFWLRQFKDQJHWKHFKDQQHO
RQWKHSKRQHWRWKHIDUWKHVWFKDQQHOIURP
\
RXUZLUHOHVV
Q
HWZRU
N

)
RUH[DPS
O
HF
K
DQJHW
K
HS
K
RQHWRF
K
DQQH
O
DQ
G
P
RYH
\
RXU5RXWHUWRFKDQQHO
6
HH
\
RXUSKRQHőVXVHU
PD
Q
XD
O
IR
U
GH
W
D
LO
HG
LQ
V
WU
XF
WL
R
Q
V
Ř ,IQHFHVVDU\FRQVLGHUVZLWFKLQ
J
WRD0+]RU
*
+
]
FRU
GO
HVVS
K
RQH

&
KRRVHWKH
ß
4XLHWHVWà&KDQQHOIRU\RXU:LUHOHVV1HWZRUN
,QORFDWLRQVZKHUHKRPHVRURIILFHVDUHFORVHWRJHWKHUVXFKDV
DSDUWPHQWEXLOGLQJVRURIILFHFRPSOH[HVWKHUHPD\EHZLUHOHVV
Q
HWZRUNVQHDUE
\
WKDWFDQFRQIOLFWZLWK
\
RXUV
8VHWKH6LWH6XUYH
\
FDSDELOLWLHVIRXQGLQWKH:LUHOHVV8WLOLW
\
RI
\
RXUZ
L
UH
O
HVVD
G
DSWHUWR
O
RFDWHDQ
\
RW
K
HUZ
L
UH
O
HVVQHWZRU
N
VW
K
DW
DUHDYDLODEOH
VHH
\
RXUZLUHOHVVDGDSWHUőVXVHUPDQXDO
DQGPRYH
\RXU5RXWHUDQGFRPSXWHUVWRDFKDQQHODV
I
DUDZD\
I
URPRWKHU
Q
HWZRU
N
VDVSRVV
LEO
H
Ř
(
[SHULPHQWZLWKPRUHWKDQRQHR
I
WKHDYDLODEOHFKDQQHOVLQ
RUGHUWRILQGWKHFOHDUHVWFRQQHFWLRQDQGDYRLGLQWHUIHUHQFH
I
URPQHLJKERULQJFRUGOHVVSKRQHVRURWKHUZLUHOHVVGHYLFHV
Ř
)
RU%HONLQZLUHOHVVQHWZRUNLQJSURGXFWVXVHWKHGHWDLOHG6LWH
6XUYH
\
DQGZLUHOHVVFKDQQHOLQIRUPDWLRQLQFOXGHGZLWK
\
RXU
ZLUHOHVVQHWZRUNFDUG
6
HH\RXUQHWZRUNFDUGőVXVHUJXLGHIRU
P
R
U
H
LQ
IR
UP
D
WL
R
Q

7K
HVH
J
X
LG
H
OL
QHVV
K
RX
OG
D
OO
RZ\RXWRFRYHUW
K
HPD[
L
PXP
S
RVVLEOHDUHDZLWK\RXU5RXWHU
6
KRXOG\RXQHHGWRFRYHUDQ
HYHQZLGHUDUHDZHVX
JJ
HVWWKH%HONLQ:LUHOHVV5DQ
JH
([WHQGHU$FFHVV3RLQW
VHFWLRQ
,QWURGXFWLRQ


6
HFXUH
&
RQQHFWLRQV931VDQG$
2
/
6
HFXUHFRQQHFWLRQVW
\
SLFDOO
\
UHTXLUHDXVHUQDPHDQ
G
S
DVVZRUGDQGDUHXVHGZKHUHVHFXULW
\
LVLPSRUWDQW6HFXUH
FRQQHFW
L
RQV
L
QF
O
X
G
H
Ř 9LUWXDO3ULYDWH1HWZRUN
931
FRQQHFWLRQVRIWHQXVHGWR
FRQQHFWUHPRWHO\WRDQR
II
LFHQHWZRU
N
Ř 7KHœ%ULQ
J
<RXU
2
ZQ$FFHVVŔSUR
J
UDPIURP$PHULFD
2
QOLQH
$
2
/
ZKLFKOHWV\RXXVH$
2
/WKURX
J
KEURDGEDQGSURYLGHGE\
DQRWKHUFDEOHRU'6/VHUYLF
H
Ř 0RVWRQOLQHEDQNLQJZHEVLWH
V
Ř 0DQ
\
FRPPHUFLDOZHEVLWHVWKDWUHTXLUHDXVHUQDPHDQG
S
DVVZRU
G
WRDFFHVV
\
RXUDFFRXQ
W
6
HFXUHFRQQHFWLRQVFDQEHLQWHUUXSWHGE
\
DFRPSXWHUőVSRZHU
P
DQD
J
HPHQWVHWW
L
Q
J
Z
KL
F
K
FDXVHV
L
WWR
œJ
RWRV
O
HHS
Ŕ
7K
H
VL
PS
O
HVWVR
O
XW
L
RQWRDYR
LG
W
KL
V
L
VWRV
L
PS
O
\UHFRQQHFW
E
\UHUXQQ
L
Q
J
W
KH931RU$
2
/VRIWZDUHRUE\UHOR
JJ
LQ
J
LQWRWKHVHFXUH
Z
HEV
LW
H
 $VHFRQGDOWHUQDWLYHLVWRFKDQJH\RXUFRPSXWHUőVSRZHU
P
DQDJHPHQWVHWWLQJVVRLWGRHVQRWJRWRVOHHSKRZHYHUWKLV
P
D\QRWEHDSSURSULDWHIRUSRUWDEOHFRPSXWHUV7RFKDQJH\RXU
S
RZHUPDQDJHPHQWVHWW
L
QJXQ
G
HU
:L
Q
G
RZVVHHW
K
H
œ3
RZHU
2S
WLRQVŔLWHPLQWKH
&
RQWURO3DQHO
 ,I
\
RXFRQWLQXHWRKDYHGLIILFXOW
\
ZLWK
6
HFXUH
&
RQQHFWLRQV931V
DQG$
2
/SOHDVHUHYLHZWKHVWHSVDERYHWREHVXUH\RXKDYH
DGG
U
HVVHG
WK
HVH
L
VVXHV
)RUPRUHLQ
I
RUPDWLRQUH
J
DUGLQ
J
RXUQHWZRUNLQ
J
SURGXFWVYLVLWRXUZHEVLWH
D
W
ZZZEHONLQFRPQHWZRUNLQ
J
RUFDOO%HONLQ7HFKQLFDO6XSSRUWDW
86
 






H
[W



H
[W

8
.




$XVWUDOLD 



1
HZ=HDODQG



6
LQJDSRUH



(XURSH ZZZEHONLQFRP
VXSSRU
W
3U
RGXF
W
2
Y
H
UYL
H
Z
3
UR
G
XFW
)
HDWXUHV
,
QPLQXWHV
\
RXZLOOEHDEOHWRVKDUH
\
RXU,QWHUQHWFRQQHFWLRQDQG
Q
HWZRUN\RXUFRPSXWHUV7KHIROORZLQJLVDOLVWRIIHDWXUHVWKDWPDNH
\
RXUQHZ%HONLQ1:LUHOHVV5RXWHUDQLGHDOVROXWLRQ
I
RU
\
RXUKRPHRU
V
P
D
OO
RII
L
FH
Q
H
WZ
R
UN
:RUNVZLWK%RWK3
&
VDQG0DF
p
&
RPSXWHUV
7
KH5RXWHUVXSSRUWVDYDULHW\R
I
QHWZRUNLQ
J
HQYLURQPHQWVLQFOXGLQ
J
0DF
26
p
[
[
;Y[
/LQX
[
p
:LQGRZ
V
p

0H
1
7
p

;3
9LVWD
Š
DQGRWKHUV$OOWKDWLVQHHGHGLVDQ,QWHUQHWEURZVHUDQG
DQHWZRUNDGDSWHUWKDWVXSSRUWV7&3,3WKHVWDQGDUGODQJXDJHRI
W
KH,QWHUQHW

3DWHQW3HQGLQ
J
1HWZRUN6WDWXV'LVSOD\
/LJKWHG/('VRQWKH
I
URQWR
I
WKH5RXWHULQGLFDWHZKLFK
I
XQFWLRQV
DUH
L
QRSHUDW
L
RQ
<
RX
őOO
N
QRZDWD
JO
DQFHZ
K
HW
K
HU\RXU
5
RXWHU
L
V
FR
QQ
HF
W
HG
W
R
WK
H
,QW
H
UQ
H
W7KL
V
IHD
W
X
U
H
H
OLPLQ
D
W
HV
WK
H
Q
HHG
IR
U
DGYDQFHGVR
I
WZDUHDQGVWDWXVPRQLWRULQ
J
SURFHGXUHV
:HE%DVHG$GYDQFHG8VHU,QWHU
I
DFH
<
RXFDQVHWXSWKH5RXWHUőVDGYDQFHGIXQFWLRQVHDVLO\WKURXJK\RXU
ZHEEURZVHUZLWKRXWKDYLQJWRLQVWDOODGGLWLRQDOVRIWZDUHRQWRWKH
FRP
S
XWHU7KHUHDUHQRGLVNVWRLQVWDOORUNHH
S
WUDFNRIDQGEHVW
RIDOO\RXFDQPDNHFKDQJHVDQGSHUIRUPVHWXSIXQFWLRQVIURPDQ\
FRPSXWHURQW
K
HQHWZRU
N
TX
L
F
NO\
DQ
G
HDV
LO\
1$7,3$GGUHVV6KDULQ
J
<
RXU5RXWHUHPSOR\V1HWZRUN$GGUHVV7UDQVODWLRQ
1$7
WRVKDUHWKH
V
LQ
J
OH,3DGGUHVVDVVL
J
QHGWR\RXE\\RXU,QWHUQHW
6
HUYLFH3URYLGHU
ZKLOHVDYLQ
J
WKHFRVWR
I
DGGLQ
J
DGGLWLRQDO,3DGGUHVVHVWR\RXU
,
QWHUQHWVHUYLFHDFFRXQW
63,)LUHZDOO
<
RXU5RXWHULVHTXLSSHGZLWKDILUHZDOOWKDWZLOOSURWHFW
\
RXUQHWZRUN
I
URPDZLGHDUUD\RIFRPPRQKDFNHUDWWDFNVLQFOXGLQJ,36SRRILQJ
/DQG$WWDFN3LQJRI'HDWK
3R'
'HQLDORI
6
HUYLFH
'R
6
,3ZLWK
]
HUROHQ
J
WK
6
PXUI$WWDFN7
&
31XOO
6
FDQ
6
<1IORRG8'3IORRGLQ
J
7
HDU'URS$WWDFN,
&
03GHIHFW5,3GHIHFWDQGIUD
J
PHQWIORRGLQ
J
VHF
W
LRQ
3U
RGXF
W
2
Y
H
UYL
H
Z

,QWHJUDWHG
3RUW6ZLWFK
7
KH5RXWHUKDVDEXLOWLQIRXUSRUWQHWZRUNVZLWFKWRDOORZ
\
RXU
ZLUHGFRPSXWHUVWRVKDUHSULQWHUVGDWDDQG03ILOHVGLJLWDOSKRWRV
DQGPXFKPRUH7KHVZLWFK
I
HDWXUHVDXWRPDWLFGHWHFWLRQVRLWZLOO
DG
M
XVWWRWKHV
S
HHGR
I
FRQQHFWHGGHYLFHV7KHVZLWFKZLOOWUDQV
I
HU
G
DWD
E
HWZHHQFRPSXWHUVDQ
G
W
K
H
,
QWHUQHWV
L
PX
O
WDQHRXV
O
\Z
L
W
K
RXW
L
QWHUUXSW
L
Q
J
RUFRQVXP
L
Q
J
UHVRXUFHV
8QLYHUVDO3OXJDQG3OD\
83Q3
8
3Q3LVDWHFKQRORJ\WKDWRIIHUVVHDPOHVVRSHUDWLRQRIYRLFH
P
HVVDJLQJYLGHRPHVVDJLQJJDPHVDQGRWKHUDSSOLFDWLRQVWKD
W
DUH83Q3FRP
S
OLDQW
6XSSRUWIRU9313DVV7KURX
J
K
,I
\RXFRQQHFWWR\RXUR
II
LFHQHWZRUN
I
URPKRPHXVLQJD931
FRQQHFW
L
RQ
\
RXU
5
RXWHUZ
LOO
D
OO
RZ
\
RXU
931
HTX
L
SSH
G
FRPSXWHUWR
S
DVVWKURX
J
KWKH5RXWHUDQGWR\RXUR
II
LFHQHWZRUN
%XLOW,Q'\QDPLF+RVW&RQILJXUDWLRQ3URWRFRO
'+&3
%XLOW,Q'\QDPLF+RVW&RQIL
J
XUDWLRQ3URWRFRO'+&3RQERDUGPDNHV
I
RUWKHHDVLHVWSRVVLEOHFRQQHFWLRQRIDQHWZRUN7KH'+&3VHUYHU
ZLOODVVLJQ,3DGGUHVVHVWRHDFKFRPSXWHUDXWRPDWLFDOO\VRWKHUHLV
Q
RQHHGIRUDFRPSOLFDWHGQHWZRUNLQJVHWXS
6HWX
S
$VVLVWDQW
7
KH
6
HWXS$VVLVWDQWVHFRQGJHQHUDWLRQRI%HONLQőVUHQRZQHG(DV\
,
QVWDOO:L]DUGWDNHVWKH
J
XHVVZRUNRXWR
I
VHWWLQ
J
XS\RXU5RXWHU
7
KLVDXWRPDWLFVR
I
WZDUHGHWHUPLQHV\RXUQHWZRUNVHWWLQ
J
V
I
RU\R
X
DQGVHWVXSWKH5RXWHUIRUFRQQHFWLRQWR\RXU,QWHUQHW
6
HUYLFH
3URYLGHU
,
6
3
,QDPDWWHURIPLQXWHV\RXU5RXWHUZLOOEHXSDQG
UXQQLQJRQWKH,QWHUQHW
1
R
W
H
6HWXS$VVLVWDQWVRIWZDUHLVFRPSDWLEOHZLWK:LQGRZV;3
DQG9LVWDDQG0DF26;Y[ ,I\RXDUHXVLQJDQRWKHURSHUDWLQJ
V
\VWHPWKH5RXWHUFDQEHVHWXSXVLQJWKH$OWHUQDWH6HWXS0HWKRG
GHVFULEHGLQWKLV8VHU0DQXDO
VHHSDJH

3URGXFW2YHUYLHZ
,QWHJUDWHG1:
L
UHOHVV$FFHVV3R
L
QW
10,02LVDQH[FLWLQJQHZZLUHOHVVWHFKQRORJ\EDVHGRQWKHGUDIW
,
(((QVSHFLILFDWLRQ,WHPSOR
\
V0,020XOWLSOH,QSXW0XOWLSOH
2
XWSXW
VPDUWDQWHQQDWHFKQRORJ\WKDWDFKLHYHVGDWDUDWHVRIXSWR

0E
SV
$
FWXD
O
W
K
URX
JK
SXW
L
VW\S
L
FD
OO
\
O
RZHUW
K
DQW
K
HFRQQHFWH
G
G
DWDUDWHDQ
G
Z
LOO
YDU\
G
HSHQ
GL
Q
J
RQ\RXUQHWZRU
NL
Q
J
HQY
L
URQPHQW
12
7
(
7KHVWDQGDUGWUDQVPLVVLRQUDWHŏ0ESVŏLVWKHSK\VLFDO
GDWDUDWH$FWXDOGDWDWKURX
J
KSXWZLOOEHORZHU
0$
&
$GGUHVV)LOWHULQJ
)RUDGGHGVHFXULW\\RXFDQVHWXSDOLVWRI0$&DGGUHVVHVXQLTXH
FOLHQWLGHQWLILHUVWKDWDUHDOORZHGDFFHVVWR\RXUQHWZRUN(YHU\
FRPSXWHUKDVLWVRZQ0$&DGGUHVV6LPSO
\
HQWHUWKHVH0$&
DGGUHVVHVLQWRDOLVWXVLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
DQ
G
\
RXFDQFRQWUR
O
DFFHVVWR
\
RXUQHWZRU
N
.QRZ
L
QJ\RXU5RXWHU
VHF
W
LRQ

3DFNDJH&RQWHQWV
Ř %HONLQ1:LUHOHVV5RXWH
U
Ř
4
XLFN,QVWDOODWLRQ*XLG
H
Ř %HONLQ
6
HWX
S
$VVLVWDQW
6
RIWZDUH
&'
Ř 5-(WKHUQHW1HWZRUNLQ
J
&
DEO
H
Ř 3RZHU
6
XSSO
\
Ř 8VHU0DQXDORQWKH
6
HWXS$VVLVWDQW
&'
Ř 1HWZRUN6WDWXV'LVSOD\*XLG
H
Ř :LUHOHVV6HFXULW\6HWXS*XLG
H
6
\VWHP5HTXLUHPHQW
V
Ř %URDGEDQG,QWHUQHWFRQQHFWLRQVXFKDVDFDEOHRU'
6
/PRGHP
ZLWK5-
(WKHUQHW
FRQQHFWLR
Q
Ř $WOHDVWRQHFRP
S
XWHUZLWKDQLQVWDOOHGQHWZRUNLQWHUIDFHDGD
S
WH
U
Ř 7
&
3
,3QHWZRUNLQJSURWRFROLQVWDOOHGRQHDFKFRPSXWH
U
Ř
5-

(
W
K
HUQHWQHWZRU
NL
Q
J
FD
EOH
Ř
,
QW
H
UQ
H
W
E
U
R
Z
VH
U
6HWXS$VVLVWDQW6R
I
WZDUH6\VWHP5HTXLUHPHQWV
Ř
$
FRPSXWHUUXQQ
L
Q
J
:L
Q
G
RZ
V
p

;3
RU
9L
VW
D
70
RU
0DF
26
p
;Y
[
Ř 0LQLPXP*+]SURFHVVRUDQG0%5$
0
Ř ,QWHUQHWEURZVHU

.QRZLQJ\RXU5RXWHU
7
KH5RXWHUKDVEHHQGHVL
J
QHGWREHSODFHGRQDGHVNWRS$OOR
I
WKH
FDEOHVH[LWIURPWKHUHDURIWKH5RXWHUIRUEHWWHURU
J
DQL]DWLRQDQG
X
WLOLW\7KH1HWZRUN6WDWXV'LVSOD\LVHDVLO\YLVLEOHRQWKH)521
7
RIWKH5RXWHUWRSURYLGH\RXZLWKLQIRUPDWLRQDERXWQHWZRUNDFWLYLW\
DQGVWDWXV6HHWKH1HWZRUN6WDWXV'LVSOD
\
*XLGHIRUPRU
H
GHWDLOHGLQIRUPDWLRQ
$
%
&
'
(
)
$ :LUHOHVV6HFXULW
\
2
))
:
LUHOHVVVHFXULW
\
LVR
II
6
ROLG%OX
H
:
LUHOHVVVHFXULW
\
LVR
Q
% :LUHOHVV
&
RPSXWHU
6
WDWXV
2
))
:
LUHOHVVFRPSXWHULVQRWSUHVHQ
W
6
ROLG%OX
H
:L
UH
O
HVVFRP
S
XWHU
L
VFRQQHFWH
G
W
R
W
KH
5RX
W
HU
%OLQNLQJ$PEH
U
3UREOHPZLWKZLUHOHVVFRP
S
XWHU
FRQQHFWLQJSURSHUO\WRWKH5RXWH
U
&
 :LUHG
&
RPSXWHU
6
WDWXV
2
))
:
LUHGFRPSXWHULVQRWSUHVHQ
W
6
ROLG%OX
H
:L
UH
G
FRP
S
XWHU
L
VFRQQHFWH
G
W
R
W
KH
5RX
W
HU
%OLQNLQJ$PEH
U
3UREOHPZLWKZLUHGFRPSXWHUFRQQHFWLQJ
S
URSHU
O\
WRW
K
H
5
RXWH
U

.QRZLQJ\RXU5RXWHU
VHFWLRQ

'
 5RXWHU
3RZHU6WDWXV
:
KHQ
\
RXDSSO
\
SRZHUWRWKH5RXWHURUUHVWDUWLWDVKRUWSHULRGRI
WL
PHH
O
DSVHVZ
KLO
HW
K
H
5
RXWHU
E
RRWVXS
'
XU
L
QJW
KL
VW
L
PHW
K
H
œ
URXWHU
Ŕ
L
FRQ
EOL
Q
N
V
:K
HQW
K
H
5
RXWHU
K
DVFRPS
O
HWH
O\
E
RRWH
G
XSW
K
H
œ
URXWHU
Ŕ
LFRQEHFRPHVDVROLGOL
J
KWLQGLFDWLQ
J
WKH5RXWHULVUHDG\
I
RUXVH
2
)) 5
RX
W
H
UL
V
RII
%OLQNLQJ%OXH 5RXWHULVERRWLQJX
S
6
ROLG%OX
H
5
RXWHU
L
VRQDQ
G
UHD
G\
(
 0
RGH
P
6
WDW
XV

7KL
V
L
FRQ
OLJK
WV
L
Q
EO
XHWR
L
Q
GL
FDWHW
K
DW\RXUPR
G
HP
L
VFRQQHFWH
G
SURSHU
O\
WRW
K
H
5
RXWHU
,
WWXUQVDP
E
HUZ
K
HQSUR
EO
HP
L
V
G
HWHFWH
G
2
)) 5RXWHULV1
2
7FRQQHFWHGWRPRGH
P
6
ROLG%OX
H
5RXWHULVFRQQHFWHGWRPRGHPDQG
I
XQFWLRQLQJSURSHUO
\
%OLQNLQ
J
$PEH
U
3U
RE
O
H
PZLWKP
RGHP
)
 ,QW
H
UQ
H
W
6
WDW
XV

7KL
VXQ
L
TXH
L
FRQV
K
RZV\RXZ
K
HQW
K
H
5
RXWHU
L
VFRQQHFWH
G
WRW
K
H
,
QWHUQHW:KHQWKHOL
J
KWLVRIIWKH5RXWHULV1
2
7FRQQHFWHGWRWKH
,
QWHUQHW:KHQWKHOL
J
KWLVEOLQNLQ
J
DPEHUWKH5RXWHULVDWWHPSWLQ
J
W
RFRQQHFWWRWKH,QWHUQHW:KHQWKHOLJKWLVVROLGEOXHWKH5RXWHU
LVFRQQHFWHGWRWKH,QWHUQHW:KHQXVLQJWKHœ'LVFRQQHFWDIWHU[
P
LQXWHVŔIHDWXUHWKLVLFRQEHFRPHVH[WUHPHO\XVHIXOLQPRQLWRULQJ
W
KHVWDWXVRI
\
RXU5RXWHUőVFRQQHFWLRQ
2
)) 5RXWHULV1
2
7FRQQHFWHGWRWKH,QWHUQH
W
%OLQNLQJ$PEH
U
5RXWHULVDWWHPSWLQJWRFRQQHFWW
R
W
KH,QWHUQH
W
6
ROLG%OX
H
5RX
W
H
U
LV
FR
QQ
HF
W
HG
W
R
W
KH
,
QW
H
UQ
HW

.QRZLQJ\RXU5RXWHU
*
 3
XV
K%
X
WW
RQ
:KLW
H
7
KLVEXWWRQLVXVHGIRUWKH:L)L3URWHFWHG6HWX
S
Š
IHDWXUH3OHDVH
UHIHUWRWKHœ&KDQJLQJWKH:LUHOHVV6HFXULW\6HWWLQJVŔVHFWLRQ
+ &RQQHFWLRQVWR:LUHG&RP
S
XWHUV
*UD
\
&
RQQHFW
\
RXUZLUHG
QRQZLUHOHVV
FRPSXWHUVWRWKHVHSRUWV
7
KHVHSRUWVDUH5-
DXWRQH
J
RWLDWLRQDXWRXSOLQNLQ
J
S
RUWV
I
RUVWDQGDUG873FDWH
J
RU\RU(WKHUQHWFDEOH7KHSRUWV
DUHODEHOHGWKURX
J
KZLWKRQERDUG/('VRQWKHFRQQHFWRUV
,
&
RQQHFWLRQWR0RGHP
<
H
OO
RZ
7
KLVSRUWLVIRUFRQQHFWLRQWR
\
RXUFDEOHRU'6/PRGHP8VHWKH
FDEOHWKDWZDV
S
URYLGHGZLWKWKHPRGHPWRFRQQHFWWKHPRGHP
W
RWKLV
S
RUW8VHRIDFDEOHRWKHUWKDQWKHRQHVX
SS
OLHGZLWKWKH
FD
EO
HPR
G
HPPD
\
QRWZRU
N
SURSHU
O\

.QRZLQJ\RXU5RXWHU
VHFWLRQ

-

5
HVHW
%
XWWR
Q
Ú
5
H
G
7
KHœ5HVHWŔEXWWRQLVXVHGLQUDUHFDVHVZKHQWKH5RXWHUPD
\
I
XQFWLRQLPSURSHUO\5HVHWWLQJWKH5RXWHUZLOOUHVWRUHWKH5RXWHUőV
Q
RUPD
O
RSHUDW
L
RQZ
KLO
HPD
L
QWD
L
Q
L
QJW
K
HSURJUDPPH
G
VHWW
L
QJV
<
RX
FDQDOVRUHVWRUHWKH
I
DFWRU\GH
I
DXOWVHWWLQ
J
VE\XVLQ
J
WKHœ5HVHWŔ
E
XWWRQ
8
VHW
K
HUHVWRUHRSW
L
RQ
L
Q
L
QVWDQFHVZ
K
HUH\RXPD\
K
DYH
I
RU
J
RWWHQ\RXUFXVWRPSDVVZRUG
L
 5HVHWW
L
QJWKH5RXWH
U
3XVKDQGUHOHDVHWKHœ5HVHWŔEXWWRQ7KHOLJKWVRQWKH
5RXWHUZLOOPRPHQWDULO\IODVK7KHœ3RZHU5HDG\ŔOLJKWZLOO
E
HJLQWREOLQN:KHQWKHœ3RZHU5HDG\ŔOLJKWEHFRPHVVROLG
DJD
L
QW
K
HUHVHW
L
VFRPS
O
HWH
LL 5HVWRULQ
J
WKH)DFWRU\'HIDXOWV
3UHVVDQGKROGWKHœ5HVHWŔEXWWRQ
I
RUDWOHDVWVHFRQGV
W
K
HQUH
O
HDVH
L
W
7K
H
OLJK
WVRQW
K
H
5
RXWHUZ
LOO
PRPHQWDU
LO
\
I
ODVK7KHœ3RZHU
5HDG\ŔOL
J
KWZLOOEH
J
LQWREOLQN:KH
Q
WKHœ3RZHU5HDG\ŔOL
J
KWEHFRPHVVROLGD
J
DLQWKHUHVWRU
H
LVFRPSOHWH
. 3
R
Z
H
U
-
D
F
N
Ú%ODFN
&RQQHFWWKHLQFOXGHG9$'&SRZHUVXSSO
\
WRWKLVMDFN

&
RQQHFWLQJDQG
&
RQILJXULQJ\RXU5RXWH
U
9
HUL
I
\WKHFRQWHQWVR
I
\RXUER[<RXVKRXOGKDYHWKH
I
ROORZLQJ
Ř %HONLQ1:LUHOHVV5RXWHU
Ř 5-(WKHUQHW1HWZRUNLQJ&DEOH
Ř 3RZHU
6
XSSO
\
Ř %HONLQ
6
HWX
S
$VVLVWDQW
6
RIWZDUH
&'
Ř 8VHU0DQXDORQWKH
6
HWXS$VVLVWDQW
&'
Ř 1HWZRUN
6
WDWXV'LVSOD\
*
XLG
H
Ř :LUHOHVV
6
HFXULW\
6
HWXS
*
XLG
H
0RGHP5H
T
XLUHPHQW
V
<
RXUFDEOHRU'6/PRGHPPXVWEHH
T
XL
SS
HGZLWKDQ5-(WKHUQHW
S
RUW0DQ
\
PRGHPVKDYHERWKDQ5-(WKHUQHWSRUWDQGD8
6
%
FRQQHFWLRQ,I
\
RXKDYHDPRGHPZLWKERWK(WKHUQHWDQG8
6
%DQG
DUHXVLQ
J
WKH8
6
%FRQQHFWLRQDWWKLVWLPH\RXZLOOEHLQVWUXFWHGWR
X
VHWKH5-(WKHUQHWSRUWGXULQ
J
WKHLQVWDOODWLRQSURFHGXUH,
I
\RXU
P
RGHPKDVRQO\D8
6
%SRUW\RXFDQUHTXHVWDGLIIHUHQWW\SHRI
P
RGHPIURP\RXU,63RU\RXFDQLQVRPHFDVHVSXUFKDVHDPRGHP
W
KDWKDVDQ5-(WKHUQHWSRUWRQLW
(WK
H
UQ
HW
86%
6
HWXS$VVLVWDQ
W
%HONLQKDVSURYLGHGRXU
6
HWXS$VVLVWDQWVRIWZDUHWRPDNHLQVWDOOLQ
J
\RXU5RXWHUDVLPSOHDQGHDV\WDVN<RXFDQXVHLWWR
J
HW\RXU5RXWHU
X
SDQGUXQQLQJLQPLQXWHV7KH6HWXS$VVLVWDQWUHTXLUHVWKDW\RXU
FRPSXWHUEHFRQQHFWHGGLUHFWO\WR\RXUFDEOHRU'6/PRGHPDQG
W
KDWWKH,QWHUQHWFRQQHFWLRQLV
DFWLYHDQGZRUNLQJ
J
DWWKHWLPHRI
LQVWDOODWLRQ,ILWLVQRW
\
RXPXVWXVHWKHœ$OWHUQDWH6HWXS0HWKRGŔ
V
HFWLRQR
I
WKLV8VHU0DQXDOWRFRQ
I
LJXUH\RXU5RXWHU$GGLWLRQDOO\
L
I
\RXDUHXVLQ
J
DQRSHUDWLQ
J
V\VWHPRWKHUWKDQ:LQGRZV;3
RU9LVWDRU0DF
26
;Y[\RXPXVWVHWXSWKH5RXWHUXVLQ
J
WKH
œ
$OWHUQDWH
6
HWXS0HWKRGŔVHFWLRQRIWKLV8VHU0DQXDO

&
RQQHFWLQJDQG
&
RQILJXULQJ\RXU5RXWH
U
VHF
W
LR
Q

6
WH
S
 +DUGZDUH&RQQHFWLRQVÚ)ROORZWKH
4
XLFN,QVWDOODWLRQ
*
XLGH
4,*



$
8
QS
O
X
J
\RXUPR
G
HP
ő
VSRZHU
FR
U
G

3X
WW
KH
5RX
W
H
UQ
H
[WW
R
WK
H
P
RGH
P5
D
L
VH
WK
H
5
RX
W
H
V
DQ
W
HQQDV
%
/
RFDWHW
K
HQHWZRU
NL
Q
J
FD
EO
H
W
K
DWFRQQHFWV
\
RXUPR
G
HPDQ
G
FRPSXWHU8QSOX
J
WKDWFDEOH
I
URP
\
RXUPRGHPDQGSOX
J
LWLQW
R
DQ\
J
UD\SRUWRQWKHEDFNR
I
WKH5RXWHU
&
)L
Q
G
\RXUQHZQHWZRU
NL
QJFD
EO
H
LQFOXGHGLQWKHER[ZLWK
\
RXU
5
RXWHU
DQGFRQQHFWLWWRWKH
\
HOORZSRUWRQWKHEDFNR
I
WKH
5
RXWHU
&
RQQHFWWKHRWKHUHQGWR
\
RXUPRGHPLQWKHSRUWWKDWő
V
QRZIUHH
'
 3OXJLQ\RXUPRGHPőVSRZHUFRUG
:DLWVHFRQGV
I
RUWKHPRGHPWR
V
WDUWXS
3O
X
J
W
K
H
5
RXWHU
ő
VSRZHU
V
XSS
O\
L
QWRW
K
H
EO
DF
N
SRUWRQW
K
H
E
DF
N

3O
X
J
W
K
HRW
K
HUHQ
G
L
QWRW
K
H
ZD
OO
RX
WO
H
W
(
 :
D
LW
VHFR
Q
GV
IR
UWK
H
5
RX
W
H
UW
R
V
WDUWXS
/
RR
N
DWW
K
H
GL
VS
O
D\RQ
WK
H
I
U
R
QW
RI
WK
H
5
RX
W
H
U  0
D
N
H
VX
U
H
WK
H
œ:LU
HG
Ŕ
D
Q
G
œ5
RX
W
H
UŔL
FR
Q
V
DUHOLWXSLQEOXH,IWKH\DUHQRW
U
HFKHFN\RXUFRQQHFWLRQV

&RQQHFWLQJDQG&RQILJXULQJ\RXU5RXWHU
6
WHS
 6HW8SWKH5RXWHUÚ5XQWKH6HWXS$VVLVWDQW6R
I
WZDU
H
$

6
KXWGRZQDQ\SUR
J
UDPVWKD
W
D
UHUXQQLQ
J
RQ\RXUFRPSXWH
U
D
WWKL
V
WLP
H
7XUQRIIDQ\ILUHZDOOR
U
,
QWHUQHWFRQQHFWLRQVKDULQJ
VRIWZDUHRQ
\
RXUFRPSXWHU
%
,
QVHUWWKH&'LQWR
\
RXUFRPSXWHU
7
KH6HWX
S
$VVLVWDQWZLOO
D
XWRPDW
L
FD
OO\
DSSHDURQ
\
RXU
F
RP
S
XWHU
ő
VVFUHHQZ
L
W
KL
Q
VHFRQGV
&
OLFNRQœ
*
RŔWRUXQ
W
KH
6
HWXS$VVLVWDQW)ROORZWKH
LQ
V
WU
XF
WL
R
Q
V
WK
H
U
H
,03
2
57$17
5XQWKH6HWXS$VVLVWDQWIURPWKHFRPSXWHUWKDWLV
G
LUHFWO
\
FRQQHFWHGWRWKH5RXWHUIURP6WHSŎ%
1
RWH
I
RU
:L
Q
G
RZV
8
VHUV
,
I
WKH
6
HWX
S
$VVLVWDQWGRHVQRWVWDU
W
X
SDXWRPDW
L
FD
OO
\VH
O
HFW\RX
U
&
'5
2
0GULYHIURPœ0\
&
RPSXWHUŔDQGGRXEOHFOLFNR
Q
W
KHILOHQDPHGœ6HWXS$VVLVWDQW
Ŕ
W
RVWDUWWKH6HWXS$VVLVWDQW

&RQQHFWLQJDQG&RQILJXULQJ\RXU5RXWHU
VHFWLRQ

&
RQILUPDWLRQ
6
FUHHQ
9
HULI\WKDW\RXKDYHFRPSOHWHGDOO4,*
V
WHSVE\FKHFNLQJWKHER[WRWKHULJKW
RIWKHDUURZ
&
OLFNœ1H[WŔWRFRQWLQXH
3
UR
J
UHVV
6
FUHH
Q
6
HWXS$VVLVWDQWZLOOVKRZ
\
RXD
S
UR
J
UHVVVFUHHQHDF
K
W
L
PHDVWHS
L
Q
W
K
HVHWXS
K
DV
E
HHQFRPS
O
HWH
G

&KHFNLQ
J
6HWWLQ
JV
7KH
6
HWX
S
$VVLVWDQWZLOOQRZ
H[DP
L
QH
\
RXUFRPSXWHU
ő
VQHWZRU
N
V
HWWLQ
J
VDQG
J
DWKHULQ
I
RUPDWLRQ
QHH
G
H
G
WRFRPS
O
HWHW
K
H
5
RXWHU
ő
V
FR
QQ
HF
WL
R
QW
R
WK
H
,QW
H
UQ
H
W

&RQQHFWLQJDQG&RQILJXULQJ\RXU5RXWHU

9HULI\LQJ+DUGZDUH&RQQHFWLRQV
7
KH6HWX
S
$VVLVWDQWZLOOQRZ
YHULI
\
\
RXUKDUGZDUHFRQQHFWLRQ
1DPLQ
J
\RXU:LUHOHVV1HWZRU
N
7
KH6HWXS$VVLVWDQWZLOOGLVSOD\
W
KHGHIDXOWZLUHOHVVQHWZRUNQDPH
R
U6HUYLFH6HW,GHQWLILHU
66,'
7
KLVLVWKHQDPHR
I
\
RXUZLUHOHVV
Q
HWZRU
N
WRZ
KL
F
K
\
RXUFRPSXWHUV
R
U
GH
Y
LFHV
Z
L
W
K
Z
L
U
HOHVV
Q
H
WZ
R
U
N
DG
DSWHUVZ
LOO
FRQQHFW
<
RXFDQ
H
LWKHUXVHWKHGH
I
DXOWRUFKDQ
J
HLW
W
RVRPHWKLQJXQLTXH:ULWHGRZQ
W
KLVQDPHIRUIXWXUHUHIHUHQFH
&
OLFNœ1H[WŔWRFRQWLQXH

&RQQHFWLQJDQG&RQILJXULQJ\RXU5RXWHU
VHFWLRQ


5
HTXHVWLQ
J
,QWHUQHW$FFRXQW
,
QIRLIQHHGHG
,I
\
RXU,QWHUQHWDFFRXQWUHTXLUH
V
D
O
RJ
L
QDQ
G
SDVVZRU
G
\RXZ
LOO
E
H
S
URP
S
WH
G
Z
L
W
K
DVFUHHQV
L
P
LO
DU
WRWKHRQHRQWKHOHIW
6
HOHF
W
\
RXUFRXQWU\RU,
6
3IURPWK
H
GURSGRZQER[HV
&RQILJXULQJWKH5RXWH
U
7KH6HWXS$VVLVWDQWZLOOQRZ
FRQILJXUH\RXU5RXWHUE
\
V
HQGLQJGDWDWRWKH5RXWH
U
DQGUHVWDUWLQJLW:DLWIRUWK
H
R
Q
VF
U
HH
Q
L
Q
V
WU
XF
W
LR
Q
V
1
RWH
'
RQRW
GL
VFRQQHFWDQ
\
FDEOHRUSRZHUR
II
WKH5RXWHU
Z
KLOHWKH5RXWHULVUHERRWLQ
J
'
RLQ
J
VRZLOOUHQGHU\RX
U
5
RXWHULQRSHUDEOH

&RQQHFWLQJDQG&RQILJXULQJ\RXU5RXWHU
&
KHFNLQ
J
,QWHUQHW&RQQHFWLR
Q
:HDUHDOPRVWGRQH7KH6HWX
S
$
VV
L
VWDQWZ
LOO
QRZF
K
HF
N
\
RXU
FR
QQ
HF
W
LR
QW
R
W
KH
,
QW
H
UQ
H
W
&
RQJUDWXODWLRQ
V
<
RXKDYH
I
LQLVKHGLQVWDOOLQ
J
\RXU
QH
Z%
H
ONLQ5
RX
W
H
U  <
RX
ZLOO
VHH
WK
H
&RQJUDWXODWLRQVVFUHHQZKHQ\RXU
5RXWHUFDQFRQQHFWWRWKH,QWHUQHW
<
RXFDQEHJLQVXUILQJE\RSHQLQJ\RXU
E
URZVHUDQ
G
JR
L
QJWRDQ\ZH
E
V
L
WH
<
RXFDQXVHWKH
6
HWX
S
$VVLVWDQWWR
VHWXS
\
RXURW
K
HUZ
L
UH
G
DQ
G
Z
L
UH
O
HVV
F
RPSXWHUVWRFRQQHFWWRW
K
H
,
QWHUQH
W
E\FOLFNLQ
J
œ1H[WŔ,
I
\RXGHFLGHW
R
D
GGFRPSXWHUVWR\RXU5RXWHUODWHU
VHOHFWœ([LWWKH$VVLVWDQWŔDQGWKHQ
F
OLFNœ1H[WŔ
7URXEOHVKRRWLQ
J
,
IWKH6HWX
S
$VVLVWDQWLVQRWDEOHWR
F
RQQHFWWRWKH,QWHUQHW
\
RXZLO
O
VHHW
KL
VVFUHHQ
)
R
OO
RZW
K
HRQVFUHH
Q
L
QVWUXFW
L
RQVWR
J
RW
K
URX
JK
W
K
H
W
URX
EO
HV
K
RRW
L
Q
J
VWHSV

&RQQHFWLQJDQG&RQILJXULQJ\RXU5RXWHU
VHFWLRQ


2SWLRQDO$VVLVWDQFH&RQQHFWLQ
J
2WKHU&RPSXWHU
V
7KL
VR
S
W
L
RQD
O
VWH
S
Z
LOO
K
H
OS
\
RXWRFRQQHFWD
GGL
W
L
RQD
O
Z
L
UH
G
DQ
G
Z
L
UH
O
HVVFRP
S
XWHUVW
R
\
RXUQHWZRU
N

)
R
OO
RZW
KH
R
Q
VF
U
HH
QLQ
V
WU
XF
WL
R
Q
V
&
RQJUDWXODWLRQ
V
2
QFH\RXKDYHYHULILHGWKDW\RXURWKHU
Z
LUHGDQGZLUHOHVVFRPSXWHUVDUH
S
URSHUO\FRQQHFWHG\RXUQHWZRUNLVVHW
XSDQGZRUNLQJ<RXFDQQRZVXUIWKH
,QWHUQHW&OLFNœ1H[WŔWRWDNH\RXEDFN
WRWKHPDLQPHQX

$OWHUQDWH
6
HWXS0HWKRG
6
WH
S
 +DU
G
ZDU
H
&R
QQ
HF
WL
R
Q
V
Ú)
R
OO
R
ZWK
H
4
XLFN,QVWDOODWLRQ*XLGH
4,*
6
HHWKH
4
,
*
RU
6
WH
S
+DUGZDUH
&
RQQHFWLRQVIURPWK
H
S
UHY
L
RXVVHFW
L
RQ
6
WHS
 
6
HW\RXU
&
RPSXWHUÝV1HWZRUN
6
HWWLQJVWR:RU
N
Z
LWKD'+
&
3
6
HUYHU
6
HHWKHVHFWLRQLQWKLV8VHU0DQXDOFDOOHGœ0DQXDOO\&RQILJXULQJ
1HWZRUN6HWWLQJVŔIRUGLUHFWLRQV
6
WH
S
 &RQIL
J
XULQ
J
WKH5RXWHU8VLQ
J
WKH:HE%DVHG$GYDQFHG
8VH
U,QW
H
UID
FH
8
V
L
Q
J
\RXU
,
QWHUQHW
E
URZVHU\RXFDQDFFHVVW
K
H
5
RXWHU
ő
V
:
H
E
%
DVH
G
$
GYDQFHG8VHU,QWHUIDFH,Q\RXUEURZVHUW\SHœŔ
G
R
Q
RWW\SHLQDQ\WKLQ
J
HOVHVXFKDVœKWWS

ŔRUœZZZŔ
7KHQSUHV
V
W
KHœ(QWHUŔNH\

$OWHUQDWH
6
HWXS0HWKRG
VHF
W
LRQ

/RJJ
L
QJ
L
QWRWKH5RXWHU
<
RXZLOOVHHWKH5RXWHUőVKRPHSDJHLQ\RXUEURZVHUZLQGRZ7KH
K
RPHSDJH
L
VY
L
V
LEO
HWRDQ\XVHUZ
K
RZDQWVWRVHH
L
W
7
RPD
N
HDQ\
FKDQJHVWRWKH5RXWHUőVVHWWLQJV\RXKDYHWRORJLQ
&
OLFNLQJWKH
œ
/R
J
LQŔEXWWRQRUFOLFNLQ
J
RQDQ\RQHR
I
WKHOLQNVRQWKHKRPHSD
J
H
Z
LOO
WD
N
H\RXWRW
K
H
O
R
JL
QVFUHHQ
7K
H
5
RXWHUV
KL
SVZ
L
W
K
QRSDVVZRU
G
HQWHUHG,QWKHOR
J
LQVFUHHQOHDYHWKHSDVVZRUGEODQNDQGFOLFNWKH
œ
6XEPLWŔEXWWRQWROR
J
LQ
/R
JJ
LQ
J
RXWRIWKH5RXWHU
2
QHFRPSXWHUDWDWLPHFDQOR
J
LQWRWKH5RXWHUIRUWKHSXUSRVH
V
RIPDNLQ
J
FKDQ
J
HVWRWKHVHWWLQ
J
VRIWKH5RXWHU
2
QFHDXVHUKDV
OR
JJ
HGLQWRPDNHFKDQ
J
HVWKHUHDUHWZRZD\VWKDWWKHFRPSXWH
U
FDQEHORJJHGRXW&OLFNLQJWKHœ/RJRXWŔEXWWRQZLOOORJWK
H
FRPSXWHURXW7KHVHFRQGPHWKRGLVDXWRPDWLF7KHORJLQZLOOWLPH
RXWDIWHUDVSHFLILHGSHULRGRIWLPH7KHGHIDXOWORJLQWLPHRXWLV
PLQXWHV7KLVFDQEHFKDQJHGIURPRQHWRPLQXWHV)RUPRUH
LQIRUPDWLRQVHHWKHVHFWLRQLQWKLVPDQXDOWLWOHGœ
&
KDQ
J
LQ
J
WKH/R
J
LQ
7
LPH
2
XW
6
HWWLQ
J
Ŕ
8QGHUVWDQGLQ
J
WKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
7
KHKRPHSD
J
HLVWKH
I
LUVWSD
J
H\RXZLOOVHHZKHQ\RXDFFHVVWKH
$
GYDQFHG8VHU,QWHUIDFH
8,
7KHKRPHSD
J
H
VKRZQRQWKHQH[W
S
D
J
HVKRZV\RXDTXLFNYLHZRIWKH5RXWHUőVVWDWXVDQGVHWWLQ
J
V$OO
DGYDQFHGVHWXSSDJHVFDQEHUHDFKHGIURPWKLVSDJH

$OWHUQDWH6HWXS0HWKRG


4
XLFN1DYLJDWLRQ/LQN
V
<
RXFDQ
J
RGLUHFWO\WRDQ\R
I
WKH5RXWHUőVDGYDQFHG8,SD
J
HVE\
FOLFNLQ
J
GLUHFWO\RQWKHVHOLQNV7KHOLQNVDUHGLYLGHGLQWROR
J
LFDO
FDWHJRULHVDQGJURXSHGE\WDEVWRPDNHILQGLQJDSDUWLFXODU
V
HWWLQJHDVLHUWRILQG&OLFNLQJRQWKHSXUSOHKHDGHURIHDFKWDE
ZLOOVKRZ
\
RXDVKRUWGHVFULSWLRQRIWKHWDEőVIXQFWLRQ
 +
R
P
H
%
X
WW
RQ
7
KHKRPHEXWWRQLVDYDLODEOHLQHYHU\SDJHR
I
WKH8,3UHVVLQJ
WKL
V
E
XWWRQZ
LOO
WD
N
H\RX
E
DF
N
WRW
K
H
K
RPHSD
J
H
 +HOS%XWWR
Q
7K
H
œ+
H
O
S
Ŕ
E
XWWRQ
JL
YHV\RXDFFHVVWRW
K
H
5
RXWHU
ő
V
K
H
O
SSD
J
HV
+HOSLVDOVRDYDLODEOHRQPDQ\SD
J
HVE\FOLFNLQ
J
œPRUHLQ
I
RŔQH[W
W
RFHUWDLQVHFWLRQVRIHDFKSDJH
 /RJLQ
/RJRXW%XWWR
Q
7
KLVEXWWRQHQDEOHV\RXWRORJLQDQGRXWRIWKH5RXWHUZLWKWKH
S
UHVVRIRQHEXWWRQ:KHQ\RXDUHORJJHGLQWRWKH5RXWHUWKLV
E
XWWRQZ
LOO
F
K
DQJHWRUHD
G
œ/
RJRXW
Ŕ

/
RJJ
L
QJ
L
QWRW
K
H
5
RXWHUZ
LOO
W
D
N
H\RXWRDVHSDUDWH
O
R
JL
QSD
J
HZ
K
HUH\RXZ
LOO
QHH
G
WRHQWHUD
S
DVVZRU
G

:K
HQ\RXDUH
O
R
JJ
H
G
L
QWRW
K
H
5
RXWHU\RXFDQPD
N
H
FKDQ
J
HVWRWKHVHWWLQ
J
V:KHQ\RXDUH
I
LQLVKHGPDNLQ
J
FKDQ
J
HV
\RXFDQOR
J
RXWR
I
WKH5RXWHUE\FOLFNLQ
J
WKHœ/R
J
RXWŔEXWWRQ)RU
P
RUHLQIRUPDWLRQDERXWORJJLQJLQWRWKH5RXWHUVHHWKHVHFWLRQ
FDOOHGœ/RJJLQJLQWRWKH5RXWHUŔ

$OWHUQDWH6HWXS0HWKRG
VHFWLRQ

 ,QWHUQHW6WDWXV,QGLFDWR
U
7
KLVLQGLFDWRULVYLVLEOHLQDOOSDJHVRIWKH5RXWHULQGLFDWLQJ
W
KHFRQQHFWLRQVWDWXVRIWKH5RXWHU:KHQWKHLQGLFDWRUVD
\
V
œ&
RQQHFWHGŔLQEOXH
WKH5RXWHULVFRQQHFWHGWRWKH,QWHUQHW
:K
HQW
K
H
5
RXWHU
L
VQRWFRQQHFWH
G
WRW
K
H
,
QWHUQHW
W
K
H
L
Q
GL
FDWRU
ZLOOUHDGœ1R
&
RQQHFWLRQŔLQ5('7KHLQGLFDWRULVDXWRPDWLFDOO\
X
SGDWHGZKHQ\RXPDNHFKDQ
J
HVWRWKHVHWWLQ
J
VR
I
WKH5RXWHU

/
DQJXDJ
H
6
KRZVWKHDFWLYHODQJXDJHIRUWKH$GYDQFHG8VHU,QWHUIDFH
6
HOHFWDGHVLUDEOHODQJXDJHE\FOLFNLQJRQHRIWKHDYDLODEOH
ODQJXDJHV
 9
H
U
V
L
R
Q,QI
R
6
KRZVWKHILUPZDUHYHUVLRQ
ERRWFRGHYHUVLRQ
KDUGZDUH
YHUVLRQ
DQGVHULDOQXPEHUR
I
WKH5RXWHU
 /$1
6
HWWLQJ
V
6
KRZV\RXWKHVHWWLQ
J
VRIWKH/RFDO$UHD1HWZRUN
/$1
VLGHRI
W
KH5RXWHU&KDQ
J
HVFDQEHPDGHWRWKHVHWWLQ
J
VE\FOLFNLQ
J
RQ
DQ\RQHRIWKHOLQNV,3$GGUHVV6XEQHW0DVN'+&36HUYHURU
E
\FOLFNLQJWKHœ/$1ŔTXLFNQDYLJDWLRQOLQNRQWKHOHIWVLGHRIWKH
VFUHHQ
 ,QWHUQHW6HWWLQ
JV
6
KRZVWKHVHWWLQ
J
VRIWKH,QWHUQHW
:$1VLGHRIWKH5RXWHU
W
KDWFRQQHFWVWRWKH,QWHUQHW
&
KDQ
J
HVWRDQ\RIWKHVHVHWWLQ
J
V
FDQ
E
HPD
G
H
E
\F
OL
F
NL
Q
J
RQW
K
H
OL
Q
N
VRU
E
\F
OL
F
NL
Q
J
RQW
K
H
œ
,QWHUQHW
:$1ŔTXLFNQDYL
J
DWLRQOLQNRQWKHOHIWVLGHRI
W
K
H
VF
U
HH
Q
 )HDWXUH
V
6
KRZVWKHVWDWXVRIWKH5RXWHUőV1$7ILUHZDOODQGZLUHOHVV
I
HDWXUHV&KDQJHVFDQEHPDGHWRWKHVHWWLQJVE\FOLFNLQJRQDQ\
RQHRIWKHOLQNVRUE\FOLFNLQJWKHTXLFNQDYLJDWLRQOLQNVRQWKH
O
HI
W
V
L
GH
RI
WK
H
VF
U
HH
Q
 3D
J
H1DP
H
7
KHSD
J
H\RXDUHRQFDQEHLGHQWL
I
LHGE\WKLVQDPH7KLV8VHU
0DQXDOZLOOVRPHWLPHVUH
I
HUWRSD
J
HVE\QDPH)RULQVWDQFH
œ
/$1!/$16HWWLQ
J
VŔUHIHUVWRWKHœ/$16HWWLQ
J
VŔSD
J
H

$OWHUQDWH6HWXS0HWKRG
6WH
S
 &RQIL
J
XULQ
J
\RXU5RXWHUIRU&RQQHFWLRQWR\RXU,QWHUQHW
6
HUYLFH3URYLGHU
,63
7
KHœ,QWHUQHW
:$1ŔWDELVZKHUH
\
RXZLOOVHWXS
\
RXU5RXWHUWR
FRQQHFWWR
\
RXU,QWHUQHW
6
HUYLFH3URYLGHU
,
6
3
7KH5RXWHULVFDSDEOH
RIFRQQHFWLQ
J
WRYLUWXDOO\DQ\,
6
VV\VWHPSURYLGHG\RXKDYH
FRUUHFWO\FRQIL
J
XUHGWKH5RXWHUőVVHWWLQ
J
VIRU\RXU,
6
VFRQQHFWLRQ
W
\SH<RXU,63FRQQHFWLRQVHWWLQ
J
VDUHSURYLGHGWR\RXE\\RXU,63
7
RFRQILJXUHWKH5RXWHUZLWKWKHVHWWLQJVWKDW\RXU,63JDYH\RX
FOLFNœ&RQQHFWLRQ7
\
SHŔ
$
RQWKHOHIWVLGHRIWKHVFUHHQ
6
HOHFW
W
KHFRQQHFWLRQW\SH\RXXVH,I\RXU,63JDYH\RX'16VHWWLQJV
FOLFNLQJœ'1
6
Ŕ
%
DOORZV
\
RXWRHQWHU'1
6
DGGUHVVHQWULHVIRU,
6
3V
W
KDWUHTXLUHVSHFLILFVHWWLQ
J
V
&
OLFNLQ
J
œ0$
&
$GGUHVVŔ
&
Z
LOO
O
HW
\
RX
FORQH
\
RXUFRPSXWHUőV0$
&
DGGUHVVRUW
\
SHLQDVSHFLILF:$10$
&
DGGUHVVLIUHTXLUHGE\\RXU,
6
3:KHQ\RXKDYHILQLVKHGPDNLQ
J
V
HWWLQ
J
VWKHœ,QWHUQHW
6
WDWXVŔLQGLFDWRUZLOOUHDGœFRQQHFWLRQ
2
.ŔLI
\RXU5RXWHULVVHWXSSURSHUO\
$
%
&

$OWHUQDWH6HWXS0HWKRG
VHFWLRQ

6HWWLQJ\RXU&RQQHFWLRQ7\SH
)URPWKHœ&RQQHFWLRQ7\SHŔSDJH\RXFDQVHOHFWWKHW\SHRIFRQQHFWLRQ
\RXXVH6HOHFWWKHW\SHRIFRQQHFWLRQ\RXXVHE\FOLFNLQJWKHEXWWRQ
Q
H[WWR\RXUFRQQHFW
L
RQW\SHDQ
G
W
K
HQF
OL
F
NL
QJ
œ1
H[W
Ŕ

$OWHUQDWH6HWXS0HWKRG
6HWWLQJ\RXU,QWHUQHW6HUYLFH3URYLGHU,63&RQQHFWLRQ
7
\S
HWR'
\
QDPLF,3
$
G
\
QDPLFFRQQHFWLRQW
\
SHLVWKHPRVWFRPPRQFRQQHFWLRQW
\
SHIRXQGZLWK
FDEOHPRGHPV
6
HWWLQJWKHFRQQHFWLRQW\SHWRœG\QDPLFŔLQPDQ\FDVHVLV
HQRX
J
KWRFRPSOHWHWKHFRQQHFWLRQWR\RXU,
6
3 
6
RPHG\QDPLFFRQQHFWLRQ
W
\SHVPD\UHTX
L
UHD
K
RVWQDPH
<
RXFDQHQWHU\RXU
K
RVWQDPH
L
QW
K
HVSDFH
S
URYLGHGLI\RXZHUHDVVL
J
QHGRQH<RXUKRVWQDPHLVDVVL
J
QHGE\\RXU,
6
3
6
RPHG\QDPLFFRQQHFWLRQVPD\UHTXLUHWKDW\RXFORQHWKH0$&DGGUHVVRI
W
KH3&WKDWZDVRULJLQDOO\FRQQHFWHGWRWKHPRGHP
 +
RV
W1DP
H
7
KLVV
S
DFHLV
S
URYLGHGWRHQWHUDKRVWQDPHWKDWQHHGVWREH
YLVLEOHWR
\
RXU,63(QWHU
\
RXUKRVWQDPHKHUHDQGFOLFNœ$SSO
\
&
KDQ
J
HVŔ
,I\RXU,
6
3GLGQRWDVVL
J
Q\RXDKRVWQDPHRU\RX
DUHQRWVXUH
O
HDYHW
KL
V
EO
DQ
N

&
KDQJH:$10$
&
$GGUHVV
,
I\RXU,
6
3UHTXLUHVDVSHFLILF0$
&
DGGUHVVWRFRQQHFWWRWKH
V
HUYLFH\RXFDQHQWHUDVSHFLILF0$&DGGUHVVRUFORQHWKH
FXUUHQWFRPSXWHUőV0$&DGGUHVVWKURXJKWKLVOLQN

$OWHUQDWH6HWXS0HWKRG
VHFWLRQ

6HWWLQJ\RXU,QWHUQHW6HUYLFH3URYLGHU,63&RQQHFWLRQ7\SHWR6WDWLF,3
$
VWDWLF,3DGGUHVVFRQQHFWLRQW
\
SHLVOHVVFRPPRQWKDQRWKHU
FRQQHFWLRQW\SHV,I\RXU,63XVHVVWDWLF,3DGGUHVVLQJ\RXZLOO
Q
HHG\RXU,3DGGUHVVVXEQHWPDVNDQG,
6
3JDWHZD\DGGUHVV7KLV
LQIRUPDWLRQLVDYDLODEOHIURP
\
RXU,
6
3RURQWKHSDSHUZRUNWKDW
\
RXU
,6
3OHIWZLWK\RX7\SHLQ\RXULQIRUPDWLRQWKHQFOLFNœ$SSO\
&
KDQ
J
HVŔ
$IWHU\RXDSSO\WKHFKDQ
J
HVWKH,QWHUQHW
6
WDWXVLQGLFDWRUZLOO
UHDGœFRQQHFWLRQ
2
.ŔLI\RXU5RXWHULVVHWXSSURSHUO\

,3
$GG
UHVV
3URYLGHGE\\RXU,
6
3(QWHU\RXU,3DGGUHVVKHUH

6
XEQHW0DVN
3URYLGHGE\\RXU,63(QWHU\RXUVXEQHWPDVNKHUH
 ,
6
3
*
DWHZD\$GGUHVV
3URYLGHGE\\RXU,63(QWHUWKH,63JDWHZD\DGGUHVVKHUH

$OWHUQDWH6HWXS0HWKRG
6
HWWLQJ\RXU,63&RQQHFWLRQ7\SHWR333R(
0RVW'6/SURYLGHUVXVH333R(DVWKHFRQQHFWLRQW
\
SH,I
\
RXXVHD
'6/PRGHPWRFRQQHFWWRWKH,QWHUQHW
\
RXU,63PD
\
XVH333R(WR
ORJ\RXLQWRWKHVHUYLFH,
I
\RXKDYHDQ,QWHUQHWFRQQHFWLRQLQ\RXU
K
RPHRUVPDOOR
II
LFHWKDWGRHVQőWUHTXLUHDPRGHP
\
RXPD
\
DOV
R
XVH
333R(
<
RXUFRQQHFWLRQW\SHLV333R(L
I

<RXU,63
J
DYH\RXDXVHUQDPHDQGSDVVZRUGZKLFKLVUHTXLUH
G
W
RFRQQHFWWRWKH,QWHUQHW

<RXU,63JDYH\RXVRIWZDUHVXFKDV:LQ32(7RU(QWHUQHW
W
KDW
\
RXXVHWRFRQQHFWWRWKH,QWHUQHW


<
RX
K
DYHWR
G
RX
EO
HF
OL
F
N
RQD
G
HV
N
WRS
L
FRQRW
K
HUW
K
DQ
\
RXU
E
URZVHUWR
J
HWRQW
K
H
,
QWHUQHW

$OWHUQDWH6HWXS0HWKRG
VHFWLRQ


8VH
U1DP
H
7KL
VVSDFH
L
VSURY
LG
H
G
WRW\SH
L
Q\RXUXVHUQDPHW
K
DWZDV
D
VVL
J
QHGE\\RXU,
6
3
 3DVVZRUG
7\SHLQ\RXUSDVVZRUGDQGUHW\SHLWLQWRWKHœ5HW\SH3DVVZRUGŔ
ER[WRFRQILUPLW

6H
UYL
FH
1DP
H
$VHUYLFHQDPHLVUDUHO
\
UHTXLUHGE
\
DQ,63,I
\
RXDUHQRWVXUHLI
\
RXU,
6
3UHTXLUHVDVHUYLFHQDPHOHDYHWKLVEODQN
 07
8
7KH078VHWWLQ
J
VKRXOGQHYHUEHFKDQ
J
HGXQOHVV\RXU,
6
3
J
LYHV
\
RXDVSHFL
I
LF078VHWWLQ
J
0DNLQ
J
FKDQ
J
HVWRWKH078VHWWLQ
J
F
DQFDXVHSUREOHPVZLWK\RXU,QWHUQHWFRQQHFWLRQLQFOXGLQ
J
G
LVFRQQHFWLRQIURPWKH,QWHUQHWVORZ,QWHUQHWDFFHVVDQG
SUREOHPVZLWK,QWHUQHWDSSOLFDWLRQVZRUNLQJSURSHUO\
 'L
VFR
QQ
HF
WDIW
H
U;
7KHœ'LVFRQQHFWŔIHDWXUHLVXVHGWRDXWRPDWLFDOO
\
GLVFRQQHFWWKH
5
RXWHUIURP
\
RXU,
6
3ZKHQWKHUHLVQRDFWLYLW
\
IRUDVSHFLILHG
SHULRGR
I
WLPH)RULQVWDQFHSODFLQ
J
DFKHFNPDUNQH[WWRWKLV
R
SWLRQDQGHQWHULQ
J
œŔLQWRWKHPLQXWH
I
LHOGZLOOFDXVHWKH5RXWHU
WR
G
L
VFR
QQ
HF
W
I
U
R
PWK
H
,QW
H
UQ
H
W
DI
W
H
U
I
LY
H
PLQ
X
W
HV
RI
Q
R
,QW
H
UQ
H
W
D
FWLYLW\7KLVRSWLRQVKRXOGEHXVHGL
I
\RXSD\
I
RU\RXU,QWHUQHW
VHUYLFHE\WKHPLQXWH

$OWHUQDWH6HWXS0HWKRG
6
HWWLQJ\RXU,QWHUQHW6HUYLFH3URYLGHU,63&RQQHFWLRQ7\SHWR
3RLQWWR3RLQW7XQQHOLQJ3URWRFRO
3373
>
(XURSHDQ&RXQWULHV2QO\
@
6
RPH,63VUHTXLUHDFRQQHFWLRQXVLQJ3373SURWRFRODW\SHRI
FRQQHFW
L
RQPRVWFRPPRQ
L
Q
(
XUR
S
HDQFRXQWU
L
HV
7KL
VVHWVX
S
D
GL
UHFW
FRQQHFWLRQWRWKH,
6
VV
\
VWHP7
\
SHLQWKHLQIRUPDWLRQSURYLGHG
E\
\
RXU,
6
3LQWKHVSDFHSURYLGHG:KHQ
\
RXKDYHILQLVKHGFOLFN
œ
$SSO\
&
KDQ
J
HVŔ
$IWHU\RXDSSO\WKHFKDQ
J
HVWKH,QWHUQHW
6
WDWXV
LQGLFDWRUZLOOUHDGœFRQQHFWLRQ
2
.ŔLI\RXU5RXWHULVVHWXSSURSHUO\
 3373$
FFRX
Q
W
3URYLGHGE
\
\
RXU,63(QWHU
\
RXU3373DFFRXQWQDPHKHUH
 33733D
VV
Z
R
U
G
7\
SH
L
Q
\
RXUSDVVZRU
G
DQ
G
UHW
\
SH
L
W
L
QWRW
K
H
œ5
HW
\
SH
3
DVVZRU
ER
[W
R
FR
Q
I
LUPLW
 +RVW1DP
H
3URYLGHGE\\RXU,63(QWHU\RXUKRVWQDPHKHUH
7
KHIROORZLQJEHFRPHVYLVLEOHZKHQ\RXGHVHOHFWœ*HW,3E\'+&3Ŕ

6H
UYL
FH
,3$
GG
U
HVV
3URYLGHGE
\
\
RXU,63(QWHU
\
RXUVHUYLFH,3DGGUHVVKHUH
 0
\
,3$GGUHV
V
3URYLGHGE
\
\
RXU,
6
3(QWHUWKH,3DGGUHVVKHUH

$OWHUQDWH6HWXS0HWKRG
VHFWLRQ

 0\6XEQHW0DV
N
3URYLGHGE
\
\
RXU,63(QWHUWKH,3DGGUHVVKHUH
 'HIDXOW*DWHZD
\
3URYLGHGE\\RXU,
6
3,I\RXU,
6
3GLGQRWJLYH\RXDFRQQHFWLRQ,'
GHIDXOW
J
DWHZD\
OHDYHWKLVEODQN
 'LVFRQQHFWD
I
WHU;
7
KHœ'LVFRQQHFWŔ
I
HDWXUHLVXVHGWRDXWRPDWLFDOO\GLVFRQQHFWWKH
5RXWHUIURP\RXU,63ZKHQWKHUHLVQRDFWLYLW\IRUDVSHFLILHG
S
HULRGRIWLPH)RULQVWDQFHSODFLQJDFKHFNPDUNQH[WWRWKLV
RSWLRQDQGHQWHULQJœŔLQWRWKHPLQXWHILHOGZLOOFDXVHWKH5RXWHU
W
RGLVFRQQHFWIURPWKH,QWHUQHWDIWHUILYHPLQXWHVRIQR,QWHUQHW
DFWLYLW
\
7KLVRSWLRQVKRXOGEHXVHGLI
\
RXSD
\
IRU
\
RXU,QWHUQHW
V
HUY
L
FH
E\
W
K
HP
L
QXWH

$OWHUQDWH6HWXS0HWKRG
6HWWLQJ\RXU&RQQHFWLRQ7\SHL
I
\RXDUHD7HOVWUD
p
%
L
J3RQG8VHU
>$XVWUDOLD2QO
\
@<RXUXVHUQDPHDQGSDVVZRUGDUHSURYLGHGWR
\
RX
E
\7HOVWUD%LJ3RQG(QWHUWKLVLQIRUPDWLRQEHORZ&KRRVLQJ\RXUVWDWH
I
URPWKHGUR
S
GRZQPHQX
ZLOODXWRPDWLFDOO\
I
LOOLQ\RXUORJLQVHUYHU
,
3DGGUHVV,
I
\RXUOR
J
LQVHUYHUDGGUHVVLVGL
II
HUHQWWKDQRQHSURYLGHG
K
HUH\RXPD\PDQXD
OO
\HQWHUW
K
H
O
R
JL
QVHUYHU
,3
D
GG
UHVV
E
\S
O
DF
L
Q
J
D
FKHFNLQWKHER[QH[WWRœ8VHUGHFLGHOR
J
LQVHUYHUPDQXDOO\Ŕ
D
Q
G
W
\SHLQWKHDGGUHVVQH[WWRœ/R
J
LQ6HUYHUŔ
:KHQ\RXKDYHHQWHUHG
DOORI\RXULQIRUPDWLRQFOLFNœ$SSO\&KDQJHVŔ
$IWHU\RXDSSO\WKH
FKDQJHVWKH,QWHUQHW6WDWXVLQGLFDWRUZLOOUHDGœFRQQHFWLRQ2.ŔLI
\
RXU5RXWHULVVHWXSSURSHUO
\

6
HOHFW\RXU
6
WDW
H
6
HOHFW\RXUVWDWHIURPWKHGURSGRZQPHQX
7KHœ/RJLQ
6
HUYHUŔER[ZLOODXWRPDWLFDOO\EHILOOHGLQZLWKDQ,3DGGUHVV
,
IIRUVRPHUHDVRQWKLVDGGUHVVGRHVQRWPDWFKWKHDGGUHVV
WK
DW
7
H
O
VWUD
K
DVJ
L
YHQ\RXFDQPDQXD
OO
\HQWHUW
K
H
O
RJ
L
QVHUYHU
DGGUHVV
6
HHœ8VHUGHFLGHORJLQVHUYHUPDQXDOO\Ŕ

8VH
U1DP
H
3URYLGHGE\\RXU,
6
37\SHLQ\RXUXVHUQDPHKHUH
 3DVVZRU
G
7
\SHLQ\RXUSDVVZRUGDQGUHW\SHLWLQWRWKHœ5HW\SH3DVVZRUGŔ
E
R[
WRFRQILUPLW

$OWHUQDWH6HWXS0HWKRG
VHFWLRQ

 8VHU'HFLGH/R
J
LQ6HUYHU0DQXDOO\
,
I\RXUORJLQVHUYHU,3DGGUHVVLVQRWDYDLODEOHLQWKHœ6HOHFW<RXU
6
WDWHŔGUR
S
GRZQPHQX
\RXPD\PDQXD
OO
\HQWHUW
K
H
O
R
JL
Q
V
HUYHU
,3
D
GG
UHVV
E
\S
O
DF
L
Q
J
DF
K
HF
N
L
QW
K
H
E
R[QH[WWR
œ8
VHU
G
HF
LG
H
O
R
JL
QVHUYHUPDQXD
OO
\
Ŕ
DQ
G
W\SH
L
QW
K
HD
GG
UHVVQH[WWR
œ
/R
J
LQ
6
HUYHUŔ
6HWWLQJ&XVWRP'RPDLQ1DPH6HUYHU
'16
6HWWLQJV
$
œ'RPDLQ1DPH6HUYHUŔLVDVHUYHUORFDWHGRQWKH,QWHUQHWWKDW
W
UDQVODWHV8QLYHUVDO5HVRXUFH/RFDWHUV85/VOLNHœZZZEHONLQFRP
Ŕ
W
R,3DGGUHVVHV0DQ
\
,QWHUQHW6HUYLFH3URYLGHUV,63VGRQRWUHTXLUH
\
RXWRHQWHUWKLVLQIRUPDWLRQLQWRWKH5RXWHU7KHœ$XWRPDWLFIUR
P
,6
3ŔER[
VKRXOGEHFKHFNHGLI\RXU,63GLGQRWJLYH\RXDVSHFLILF
'16DGGUHVV,I\RXDUHXVLQJDVWDWLF,3FRQQHFWLRQW\SHWKHQ\RXPD\
Q
HHGWRHQWHUDVSHFLILF'1
6
DGGUHVVDQGVHFRQGDU
\
'1
6
DGGUHVVIRU
\
RXUFRQQHFWLRQWRZRUNSURSHUO
\
,
I
\
RXUFRQQHFWLRQW
\
SHLVG
\
QDPLF
RU333R(LWLVOLNHO\WKDW\RXGRQRWKDYHWRHQWHUD'1
6
DGGUHVV
/HDYHWKHœ$XWRPDWLFIURP,
6
3ŔER[FKHFNHG7RHQWHUWKH'1
6
DGGUHVV
V
HWWLQ
J
VXQFKHFNWKHœ$XWRPDWLFIURP,
6
3ŔER[DQGHQWHU\RXU'1
6
HQWULHVLQWKHVSDFHVSURYLGHG
&
OLFNœ$SSO\
&
KDQ
J
HVŔ
W
R
VD
Y
H
W
KHVHWWLQJV
$OWHUQDWH6HWXS0HWKRG

&RQILJXULQJ\RXU:$10HGLD$FFHVV&RQWUROOHU0$&$GGUHVV
$
OOQHWZRUNFRPSRQHQWVLQFOXGLQJFDUGVDGDSWHUVDQGURXWHUVKDYH
DXQL
T
XHœVHULDOQXPEHUŔFDOOHGD0$&DGGUHVV<RXU,QWHUQHW6HUYLFH
3URYLGHU
,
6
3
PD
\
UHFRUGWKH0$
&
DGGUHVVRI
\
RXUFRPSXWHUőVDGDSWHU
DQ
G
RQ
O\
O
HWW
K
DWSDUW
L
FX
O
DUFRPSXWHUFRQQHFWWRW
K
H
,
QWHUQHWVHUY
L
FH
:
KHQ\RXLQVWDOOWKH5RXWHULWVRZQ0$
&
DGGUHVVZLOOEHœVHHQŔE\WKH
,6
3DQGPD\FDXVHWKHFRQQHFWLRQQRWWRZRUN%HONLQKDVSURYLGHGWKH
DELOLW\WRFORQHFRS\WKH0$&DGGUHVVRIWKHFRPSXWHULQWRWKH5RXWHU
7
KLV0$&DGGUHVVLQWXUQZLOOEHVHHQE\WKH,63őVV\VWHPDVWKH
RULJLQDO0$&DGGUHVVDQGZLOODOORZWKHFRQQHFWLRQWRZRUN,I\RXDUH
Q
RWVXUHZKHWKHU\RXU,63QHHGVWRVHHWKHRULJLQDO0$&DGGUHVV
V
LPSO\FORQHWKH0$&DGGUHVVRIWKHFRPSXWHUWKDWZDVRULJLQDOO\
FRQQHFWHGWRWKHPRGHP
&
ORQLQ
J
WKHDGGUHVVZLOOQRWFDXVHDQ\
S
UR
EO
HPVZ
L
W
K
\
RXUQHWZRU
N
&ORQLQ
J
\RXU0$&$GGUHVV
7
RFORQH\RXU0$
&
DGGUHVVPDNHVXUHWKDW\RXDUHXVLQ
J
WKHFRPSXWHU
W
KDWZDV
2
5,
*
,1$//<
&2
11(
&
7('WR\RXUPRGHPEHIRUHWKH5RXWHU
ZDVLQVWDOOHG
&
OLFNWKHœ
&
ORQHŔEXWWRQ
&
OLFNœ$SSO\
&
KDQ
J
HVŔ
<
RXU0$
&
DGGUHVVLVQRZFORQHGWRWKH5RXWHU
(QWHULQJD6SHFL
I
LF0$&$GGUHVV
,
QFHUWDLQFLUFXPVWDQFHV\RXPD\QHHGDVSHFLILF:$10$&DGGUHVV
<
RXFDQPDQXDOO\HQWHURQHLQWKHœ0$&$GGUHVVŔSDJH7\SHLQD0$&
DGGUHVVLQWKHVSDFHVSURYLGHG
DQGFOLFNœ$SSO\&KDQJHVŔ
W
R
V
DYHWKHFKDQJHV7KH5RXWHUőV:$10$&DGGUHVVZLOOQRZEHFKDQJHG
W
RWKH0$&DGGUHVV
\
RXVSHFLILHG
8
VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHU
I
DF
H
VHF
W
LRQ

8
V
L
Q
J
\RXU
,
QWHUQHW
E
URZVHU\RXFDQDFFHVVW
K
H
5
RXWHU
ő
V
:
H
E
%
DVH
G
$
GYDQFHG8VHU,QWHUIDFH,Q\RXUEURZVHUW\SHœŔGRQRW
W
\SHLQDQ\WKLQJHOVHVXFKDVœKWWSŔRUœZZZŔWKHQSUHVVWK
H
œ
(QWHUŔNH\
<
RXZ
LOO
VHHW
K
H
5
RXWHU
ő
V
K
RPHSDJH
L
Q\RXU
E
URZVHUZ
L
Q
G
RZ
9
LHZLQ
J
WKH/$16HWWLQ
J
V
&
OLFNLQJRQWKHKHDGHURIWKH/$1WDE
Z
LOO
WD
N
H
\
RXWRW
K
H
/$1
WD
V
K
HDGHUSD
J
H$TXLFNGHVFULSWLRQR
I
WKH
I
XQFWLRQVFDQEH
I
RXQGKHUH7R
YLHZWKHVHWWLQ
J
VRUPDNHFKDQ
J
HVWRDQ\R
I
WKH/$1VHWWLQ
J
VFOLFNRQ
œ
/$1
6
HWWLQ
J
RUWRYLHZWKHOLVWR
I
FRQQHFWHGFRPSXWHUVFOLFNRQ
œ
'+
&
3FOLHQWOLVWŔ

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
&KDQJLQJ/$16HWWLQJV
$
OOVHWWLQJVIRUWKHLQWHUQDO/$1VHWXSRIWKH5RXWHUFDQEHYLHZHG
DQ
G
F
K
DQJH
G
K
HUH
 ,3$
GG
U
HVV
7
K
H
œ,3
DGG
U
HVV
ŔL
V
WK
H
LQW
H
UQ
D
O,3
DGG
U
HVV
RI
WK
H
5
RX
W
H
U  7K
H
GH
I
DXOW,3DGGUHVVLVœŔ7RDFFHVVWKHDGYDQFHGVHWXS
LQWHU
I
DFHW\SHWKLV,3DGGUHVVLQWRWKHDGGUHVVEDUR
I
\RXUEURZVHU
7
KLVDGGUHVVFDQEHFKDQJHGLIQHHGHG7RFKDQJHWKH,3DGGUHVV
W
\SHLQWKHQHZ,3DGGUHVVDQGFOLFNœ$SSO\&KDQJHVŔ7KH,3
DGGUHVV
\
RXFKRRVHVKRXOGEHDQRQURXWDEOH,3([DPSOHVRID
Q
RQURXWD
EO
H
,3
DUH
 [[
ZKHUH[LVDQ\WKLQJEHWZHHQDQG
 [[[
ZKHUH[LVDQ\WKLQ
J
EHWZHHQDQG

6
XEQHW0DV
N
7
KHUHLVQRQHHGWRFKDQ
J
HWKHVXEQHWPDVN7KLVLVDXQLTXH
DGYDQFHGIHDWXUHRI\RXU%HONLQ5RXWHU,WLVSRVVLEOHWRFKDQ
J
H
W
KHVXEQHWPDVNLIQHFHVVDU\KRZHYHUGR127PDNHFKDQJHVWR
W
KHVXEQHWPDVNXQOHVV\RXKDYHDVSHFLILFUHDVRQWRGRVR7KH
GHIDXOWVHWWLQJLVœŔ

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

 '+&36HUYH
U
7
KH'+&3VHUYHUIXQFWLRQPDNHVVHWWLQJXSDQHWZRUNYHU\HDV\
E
\DVV
L
JQ
L
QJ
,3
D
GG
UHVVHVWRHDF
K
FRPSXWHURQW
K
HQHWZRU
N
DXWRPDWLFDOO\7KHGHIDXOWVHWWLQJLVœ
2
QŔ7KH'+
&
3VHUYHUFDQ
E
HWXUQHG
2
))LIQHFHVVDU
\
KRZHYHULQRUGHUWRGRVR
\
RXPXVW
P
DQXDOO\VHWDVWDWLF,3DGGUHVV
I
RUHDFKFRPSXWHURQ\RXUQHWZRUN
7
RWXUQRIIWKH'+
&
3VHUYHUVHOHFWœ
2
IIŔDQGFOLFNœ$SSO\
&
KDQ
J
HVŔ

,3
3
RR
O
7
KHUDQJHRI,3DGGUHVVHVVHWDVLGHIRUG\QDPLFDVVLJQPHQW
W
RWKHFRPSXWHUVRQ
\
RXUQHWZRUN7KHGHIDXOWLVŎ
FRPSXWHUV,I\RXZDQWWRFKDQJHWKLVQXPEHU\RXFDQGRVR
E
\HQWHU
L
QJDQHZVWDUW
L
QJDQ
G
HQ
GL
QJ
,3
D
GG
UHVVDQ
G
F
OL
F
NL
QJRQ
œ
$SSO\
&
KDQJHVŔ7KH'+
&
3VHUYHUFDQDVVLJQ,3DGGUHVVHV
DXWRPDWLFDOO
\
7KLVPHDQVWKDW
\
RXFDQQRWVSHFL
I\
DQ,3DGGUHVV
S
RR
O
O
DU
J
HUW
K
DQFRPSXWHUV
)
RUH[DPS
O
HVWDUW
L
Q
J
DW
P
HDQV\RXKDYHWRHQGDWRUORZHUVRDVQRWWRH[FHHGWKH
FOLHQWOLPLW7KHVWDUWLQ
J
,3DGGUHVVPXVWEHORZHULQQXPEHU
W
KDQWKHHQGLQJ,3DGGUHVV
 /
H
D
VH
7
L
P
H
7
KHOHQJWKRIWLPHWKH'+&3VHUYHUZLOOUHVHUYHWKH,3DGGUHVV
I
RUHDFKFRPSXWHU:HUHFRPPHQGWKDW
\
RXOHDYHWKHOHDVH
W
LPHVHWWRœ)RUHYHUŔ7KHGH
I
DXOWVHWWLQ
J
LVœ)RUHYHUŔPHDQLQ
J
WK
DWDQ\W
L
PHDFRPSXWHU
L
VDVV
LJ
QH
G
DQ
,3
D
GG
UHVV
E
\W
K
H
'+
&
3VHUYHUWKH,3DGGUHVVZLOOQRWFKDQ
J
HIRUWKDWSDUWLFXODU
FRPSXWHU
6
HWWLQ
J
OHDVHWLPHVIRUVKRUWHULQWHUYDOVVXFKDVRQH
GD\RURQHKRXUIUHHV,3DGGUHVVHVDIWHUWKHVSHFLILHGSHULRGRI
W
LPH7KLVDOVRPHDQVWKDWDSDUWLFXODUFRPSXWHUőV,3DGGUHVV
P
D\FKDQJHRYHUWLPH,I\RXKDYHVHWDQ\RIWKHRWKHUDGYDQFHG
I
HDWXUHVRIWKH5RXWHUVXFKDV'0=RUFOLHQW,3ILOWHUVWKHVHDUH
G
HSHQ
G
HQWRQW
K
H
,3
D
GG
UHVV
)
RUW
KL
VUHDVRQ
\
RXZ
LOO
QRWZDQW
WK
H
,3
D
GG
UHVVWRF
K
DQ
J
H
 /
RF
DO'
R
PDLQ1DP
H
7
KHGH
I
DXOWVHWWLQ
J
LVœ%HONLQŔ<RXFDQVHWDORFDOGRPDLQQDPH
QHWZRUNQDPH
IRU\RXUQHWZRUN7KHUHLVQRQHHGWRFKDQ
JH
W
KLVVHWWLQ
J
XQOHVV\RXKDYHDVSHFLILFDGYDQFHGQHHGWRGRVR
<
RXFDQQDPHWKHQHWZRUNDQ\WKLQJ\RXZDQWVXFKD
V
œ
0<1(7:
2
5.Ŕ

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
9
LHZLQJWKH'+&3&OLHQW/LVW3DJH
<
RXFDQYLHZDOLVWRIWKHFRP
S
XWHUV
NQRZQDVFOLHQWV
ZKLFKDUH
FRQQHFWHGWR
\
RXUQHWZRUN<RXDUHDEOHWRYLHZWKH,3DGGUHVV
RI
W
KHFRP
S
XWHUWKHKRVWQDPH
LIWKHFRPSXWHUKDVEHHQDVVLJQHG
RQH
DQGWKH0$&DGGUHVV
RIWKHFRP
S
XWHUőVQHWZRUNLQWHUIDFH
FDUG1,&3UHVVLQJWKHœ5HIUHVKŔ
EXWWRQZLOOX
S
GDWHWKHOLVW,I
WK
HUH
K
DYH
E
HHQDQ\F
K
DQJHVW
K
H
OL
VWZ
LOO
E
HXS
G
DWH
G
&RQIL
J
XULQ
J
WKH:LUHOHVV1HWZRUN6HWWLQ
J
V
7
KHœ:LUHOHVVŔWDEOHWV\RXPDNHFKDQJHVWRWKHZLUHOHVVQHWZRUN
V
HWW
L
QJV
)
URPW
KL
VWD
E
\RXFDQPD
N
HF
K
DQJHVWRW
K
HZ
L
UH
O
HVVQHWZRU
N
Q
DPHRU
6
HUYLFH
6
HW,GHQWLILHU
66
,'
RSHUDWLQ
J
FKDQQHOHQFU\SWLRQ
V
HFXULW\VHWWLQ
J
VDQGFRQ
I
L
J
XUHWKH5RXWHUWREHXVHGDVD
Q
DFFHVVSR
L
QW

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

&KDQJLQJWKH:LUHOHVV1HWZRUN1DPH66,'
7
RLGHQWLI
\
\
RXUZLUHOHVVQHWZRUNDQDPHFDOOHGWKH66,'LVXVHG
7
KH66,'LV
\
RXUQHWZRUNQDPH7KHGHIDXOWQHWZRUNQDPHRIWKH
5RXWHULVœ%HONLQ1:LUHOHVVŔ
I
ROORZHGE\VL[GLJLWVWKDWDUHXQLTXHWR
\RXU
5
RXWHU
<
RXUQHWZRU
N
QDPHZ
LOO
O
RR
N
VRPHW
KL
Q
J
OLNH
œ%
H
ONL
QB
1
B
:L
UH
O
HVVB
Ŕ

<
RXFDQF
K
DQ
J
HW
KL
VWRDQ\W
KL
Q
J
\RX
FKRRVHRU\RXFDQOHDYHLWXQFKDQ
J
HG.HHSLQPLQGL
I
\RXGHFLGH
W
RFKDQ
J
H\RXUZLUHOHVVQHWZRUNQDPHDQGWKHUHDUHRWKHUZLUHOHVV
Q
HWZRUNVRSHUDWLQJLQ\RXUDUHD\RXUQHWZRUNQDPHQHHGVWREH
GLIIHUHQWIURPRWKHUZLUHOHVVQHWZRUNVWKDWPD\EHRSHUDWLQJLQ\RXU
DUHD7RFKDQJHWKH66,'W\SHLQWKH66,'WKDW\RXZDQWWRXVH
LQWKH
66
,'ILHOG
DQGFOLFNœ$SSO\&KDQJHVŔ
7KHFKDQJHLV
LPPHGLDWH,I\RXPDNHDFKDQJHWRWKH66,'\RXUZLUHOHVVHTXLSSHG
FRPSXWHUVPD\DOVRQHHGWREHUHFRQ
I
LJXUHGWRFRQQHFWWR\RXUQHZ
Q
HWZRUNQDPH5H
I
HUWRWKHGRFXPHQWDWLRQR
I
\
RXUZLUHOHVVQHWZRUN
DGDSWHU
I
RULQ
I
RUPDWLRQRQPDNLQ
J
WKLVFKDQ
J
H
1
R
W
H
3OHDVHSHULRGLFDOO\FKHFNIRUQHZ5RXWHUILUPZDUHXSGDWHV
I
URPWKHœ8WLOLWLHV!)LUPZDUHXSGDWHŔSDJH1HZHUILUPZDUHFDQIL[
S
UREOHPVDGGZLUHOHVVIHDWXUHVDQGRULP
S
URYHZLUHOHVV
S
HUIRUPDQFH
VHHSDJH

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
&KDQJLQJWKH:LUHOHVV&KDQQHO
7
KHUHDUHDQXPEHURIRSHUDWLQJFKDQQHOVIURPZKLFK\RXFD
Q
FKRRVHŏLQWKH8QLWHG6WDWHVWKHUHDUHDQGLQWKH8QLWHG.LQJGRP
DQGPRVWRI(XURSHWKHUHDUH,QDVPDOOQXPEHURIRWKHUFRXQWULHV
W
KHUHDUHRWKHUFKDQQHOUHTXLUHPHQWV<RXU5RXWHULVFRQILJXUHGWR
RSHUDWHRQWKHSURSHUFKDQQHOVIRUWKHFRXQWU
\
LQZKLFK
\
RXUHVLGH7KH
FKDQQHOFDQEHFKDQJHGLIQHHGHG,IWKHUHDUHRWKHUZLUHOHVVQHWZRUNV
RSHUDWLQJLQ\RXUDUHD\RXUQHWZRUNVKRXOGEHVHWWRRSHUDWHRQD
FKDQQHOWKDWLVGLIIHUHQWWKDQWKHRWKHUZLUHOHVVQHWZRUNV
([WHQVLRQ
&
KDQQHO
7
KH,(((QGUDIWVSHFLILFDWLRQDOORZVWKHXVHRIDVHFRQGDU\
FKDQQHOWRGRXEOHWKHEDQGZLGWKVHHœ8VLQJWKH%DQGZLGWK6ZLWFKŔ
RQWKHQH[WSDJH$QDSSURSULDWHH[WHQVLRQFKDQQHOZLOOEHGLVSOD\HG
ZKHQRSHUDWLQJLQ0+]PRGHVHHœ8VLQJWKH:LUHOHVV0RGH6ZLWFKŔ
E
HORZ7KHFKDQQHOFDQEHFKDQJHGLIQHHGHG
8VLQJWKH:LUHOHVV0RGH
6
ZLWFK
7
KLVVZLWFKDOORZV\RXWRVHWWKH5RXWHUőVZLUHOHVVPRGHV7KHUHDUH
V
HYHUDOPRGHV
1
RWH6RPHPRGHVPD
\
UH
T
XLUHILUPZDUHX
S
GDWHVWREHHQDEOHG

2
I
I
7KLVPRGHZLOOWXUQ2))WKH5RXWHUőVDFFHVVSRLQWVRQRZLUHOHVV
G
HYLFHVFDQMRLQWKHQHWZRUN7XUQLQJRIIWKHZLUHOHVVIXQFWLRQRI
\
RXU5RXWHULVDJUHDWZD\WRVHFXUH\RXUQHWZRUNZKHQ\RXDUH
D
ZD\IURPKRPHIRUDORQJSHULRGRIWLPHRUGRQőWZDQWWRXVHWKH
Z
LUHOHVV
I
HDWXUHR
I
WKH5RXWHUDWDFHUWDLQWLPH


JRQ
O\
6
HWWLQ
J
WKH5RXWHUWRWKLVPRGHZLOODOORZRQO\
J
FRPSOLDQW
G
HY
L
FHVWR
M
R
L
QW
K
HQHWZRU
N

N
HHS
L
Q
J
RXWDQ\V
O
RZHU
E
GH
YL
FHV
E
J
Q
6HWWLQJWKH5RXWHUWRWKLVPRGHZLOODOORZEJDQG
QFRP
S
OLDQWGHYLFHVWR
M
RLQWKHQHWZRUN


QRQ
O\
6
HWWLQJWKH5RXWHUWRWKLVPRGHZLOODOORZRQO\1
GUDIW
QFRPS
OL
DQW
G
HY
L
FHVWR
M
R
L
QW
K
HQHWZRU
N

N
HHS
L
Q
J
RXW

J
DQ
G

E
G
HY
L
FHV

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

8VLQ
J
WKH%DQGZLGWK6ZLWFK
7KL
VVZ
L
WF
K
D
OO
RZV
\
RXWRVHWW
K
H
5
RXWHU
ő
VZ
L
UH
O
HVV
E
DQ
G
Z
LG
W
K
PR
G
HV
7KH
U
H
D
U
H
VH
Y
H
U
DO
P
RGHV
D
Y
DLODEOH

0+
]RQ
O\
6
HWWLQ
J
WKH5RXWHUWRWKLVPRGHDOORZVRQO\0+]RSHUDWLRQ7KLV
PRGHLVFRPSDWLEOHZLWK1GUD
I
WQ
J
DQ
G
EFRPSOLDQWGHYLFHVEXWZLOOOLPLW1GUDIWQFRPSOLDQW
G
HYLFHVőEDQGZLGWKE\KDOI5HGXFLQJEDQGZLGWKWR0+]RQO\
R
SHUDWLRQPLJKWVROYHVRPHZLUHOHVVSUREOHPV
0+]
0+]$XW
R
6HWWLQJWKH5RXWHUWRWKLVPRGHDOORZVLWWRVZLWFKDXWRPDWLFDOO\
E
HWZHHQ
0+
]DQ
G

0+
]R
S
HUDW
L
RQ
7KL
VPR
G
HHQD
EO
HV
0+
]
RS
HUDWLRQWRPD[LPL]HV
S
HHG
I
RU1GUD
I
WQFRP
S
OLDQW
G
HY
L
FHVZ
K
HQFRQ
GL
W
L
RQVSHUP
L
W
:K
HQD
O
H
J
DF\
J
DFFHVV
SRLQWLVSUHVHQWHGDQGRFFXSLHVDQDGMDFHQWVHFRQGDU\FKDQQHO
W
KH5RXWHUDXWRPDWLFDOO\UHYHUWVWR0+]RSHUDWLRQWRPD[LPL]H
F
RPSDWLELOLW\:HUHFRPPHQGXVLQJWKLVDVWKHGHIDXOWPRGH

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
8VLQJWKH%URDGFDVW66,')HDWXUH
1
R
W
H
7KLVDGYDQFHGIHDWXUHVKRXOGEHHPSOR\HGE\DGYDQFHGXVHUV
RQO\)RUVHFXULW\\RXFDQFKRRVHQRWWREURDGFDVW\RXUQHWZRUNőV66,'
'RLQJVRZLOONHHS\RXUQHWZRUNQDPHKLGGHQIURPFRPSXWHUVWKDWDUH
V
FDQQLQJIRUWKHSUHVHQFHRIZLUHOHVVQHWZRUNV7RWXUQRIIWKHEURDGFDVW
RIWKH66,'UHPRYHWKHFKHFNPDUNIURPWKHER[QH[WWRœ%URDGFDVW
6
6,'ŔDQGWKHQFOLFNœ$SSO\&KDQJHVŔ7KHFKDQJHLVLPPHGLDWH(DFK
FRPSXWHUQRZQHHGVWREHVHWWRFRQQHFWWR\RXUVSHFLILF66,'DQ66,'
RIœ$1<ŔZLOOQRORQJHUEHDFFHSWHG5HIHUWRWKHGRFXPHQWDWLRQRI\RXU
ZLUHOHVVQHWZRUNDGDSWHUIRULQIRUPDWLRQRQPDNLQJWKLVFKDQJH
3U
R
W
HF
W
HG
0
RGH
6
ZLW
F
K
3URWHFWHGPRGHHQVXUHV
S
UR
S
HUR
S
HUDWLRQRI1GUDIWQFRP
S
OLDQW
GHYLFHVRQ\RXUZLUHOHVVQHWZRUNZKHQJRUEGHYLFHVDUH
S
UHVHQWRUZKHQWKHUHLVKHDY\JRUEWUDIILFLQWKHRSHUDWLQJ
HQYLURQPHQW8VHSURWHFWHGPRGHLI
\
RXUQHWZRUNFRQVLVWVRIDPL[RI
%HONLQ1:LUHOHVV&DUGVDQGJRUEFDUGVRQ\RXUQHWZRUN
,
I\RXDUHLQDQHQYLURQPHQWWKDWLQFOXGHVOLWWOHWRQRJRUE
ZLUHOHVVQHWZRUNWUDIILF
\
RXZLOODFKLHYHWKHEHVW1ZLUHOHVVSHUIRUPDQFH
ZLWKSURWHFWHGPRGH2))&RQYHUVHO
\
LQDQHQYLURQPHQWZLWK+($9<
JRUEWUDIILFRULQWHUIHUHQFH\RXZLOODFKLHYHWKHEHVW
1ZLUHOHVV
S
HUIRUPDQFHZLWK
S
URWHFWHGPRGH217KLVZLOOHQVXUH1
ZLUHOHVV
S
HUIRUPDQFHLVQRWDIIHFWHG
H
:004R66ZLWFK
$
OORZV
\
RXWRWXUQ21RU2))ZLUHOHVV4R6
&KDQ
J
LQ
J
WKH:LUHOHVV6HFXULW\6HWWLQ
J
V
<
RXU
1
:L
UH
O
HVV
5
RXWHU
L
VHTX
L
SSH
G
Z
L
W
K
W
K
H
O
DWHVWVHFXU
L
W
\
VWDQ
G
DU
G
FDOOHG
:L
)L
3
U
R
W
HF
W
HG
$FFHVV
Š

:3$
Š
DQGWKHOH
J
DF\VHFXULW\
V
WDQGDUGFDOOHG:LUHG(TXLYDOHQW3ULYDF\
:(3
<RXU5RXWHUDOVR
V
XSSRUWVWKH:L)L3URWHFWHG6HWXS:36VSHFLILFDWLRQZKLFK
V
LPSOLILHVWKHVHWXSRIDZLUHOHVVQHWZRUN:36XVHVIDPLOLDU
P
HWKRGRORJLHVVXFKDVW\SLQJLQD3HUVRQDO,GHQWLILFDWLRQ1XPEHU
3,1RUSXVKLQJDEXWWRQWRHQDEOHXVHUVWRDXWRPDWLFDOO\FRQILJXUH
Q
HWZRU
N
QDPHVDQ
G
VWURQJ
:3$
Š:3$GDWDHQFU
\
SWLRQDQG
DXWKHQWLFDWLRQ%
\
GH
I
DXOWZLUHOHVVVHFXULW
\
LVGLVDEOHG7RHQDEOH
V
HFXU
L
W
\

\
RXZ
LOO
QHH
G
WR
G
HWHUP
L
QHZ
KL
F
K
VWDQ
G
DU
G
\
RXZDQWWRXVH
7
RDFFHVVWKHVHFXULW\VHWWLQ
J
VFOLFNœ
6
HFXULW\ŔRQWKHœ:LUHOHVVŔWDE

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

8VLQJ:L)L3URWHFWHG
6
HWXS
:
36XVHV:3$GHVFULEHGRQSDJHIRUHQFU\SWLRQ,WGRHVQRW
S
URYLGHDGGLWLRQDOVHFXULW
\
EXWUDWKHUVWDQGDUGL]HVWKHPHWKRGIRU
V
HFXU
L
QJ\RXUZ
L
UH
O
HVVQHWZRU
N

<
RXPD\XVHH
L
W
K
HUW
K
H
3
XV
K
%
XWWRQ
&
RQIL
J
XUDWLRQ
3%
&
PHWKRGRU3,1PHWKRGWRDOORZDGHYLFHDFFHVVWR
\RXUZLUHOHVVQHWZRUN
&
RQFHSWXDOO\WKHWZRPHWKRGVZRUNDVIROORZV
3%
&
3XVKDQGKROGWKH:3
6
EXWWRQORFDWHGRQWKHEDFNRI\RXU5RXWHU
I
RUWKUHHVHFRQGV7KHQLQLWLDWHWKH:3
6
SURFHGXUHRQWKHFOLHQW
GHYLFHZLWKLQWZRPLQXWHV5HIHUWR\RXUFOLHQWőVGRFXPHQWDWLRQRQWKLV
S
URFHGXUH3XVKLQJWKH3%&EXWWRQZLOODXWRPDWLFDOO\HQDEOH:367KH
FOLHQWKDVQRZEHHQVHFXUHO
\
DGGHGWR
\
RXUZLUHOHVVQHWZRUN
3,17KHFOLHQWGHYLFHKDVD3,1QXPEHUHLWKHUIRXURUHLJKWGLJLWVWKDW
LVDVVRFLDWHGZLWK:3
6
(QDEOH:3
6
WKURX
J
KWKHVFUHHQLOOXVWUDWHGRQ
WK
HQH[WSD
J
H
(
QWHUW
K
HF
OL
HQW
ő
V
3,1
L
QWRW
K
H
5
RXWHU
ő
V
L
QWHUQD
O
UH
JL
VWUDU
DFFHVVHGWKURX
J
KWKLVVFUHHQ
7KHFOLHQWZLOOEHDXWRPDWLFDOO\HQUROOHG
LQWR\RXUZLUHOHVVQHWZRUNZLWKLQWZRPLQXWHV

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH


:L)L3URWHFWHG6HWX
S
:36
(QDEOHGRU'LVDEOHG

3HUVRQDO,GHQWLILFDWLRQ1XPEHU
3,1
0HWKRG,QWKLVPHWKRG
D
Z
L
UH
O
HVVF
OL
HQWZ
L
V
KL
QJWRDFFHVV\RXUQHWZRU
N
PXVWVXSS
O\
D
RUGLJLW3,1WRWKH5RXWHU$
I
WHUFOLFNLQJœ(QUROOŔ\RX
P
XVWVWDUWWKH:3
6
KDQGVKDNLQ
J
SURFHGXUHIURPWKHFOLHQW
ZL
W
KL
QWZ
R
P
L
Q
X
W
HV

5RXWHU3,1,
I
DQH[WHUQDOUH
J
LVWUDULVDYDLODEOH\RXPD\HQWHU
LQWKH5RXWHUőV3,1WRWKHUH
J
LVWUDU
&
OLFNœ
*
HQHUDWH1HZ3,1Ŕ
W
RFKDQ
J
HWKH3,1IURPWKHGHIDXOWYDOXH
&
OLFNœ5HVWRUH'HIDXOW
3,1ŔWRUHVHWWKH3,1YDOXH

3XVK%XWWRQ&RQIL
J
XUDWLRQ3%&0HWKRG3%&LVDQDOWHUQDWH
P
HWKRGWRFRQQHFWWRD:3
6
QHWZRUN3XVKWKH3%
&
EXWWRQ
ORFDWHGRQWKHEDFNRIWKH5RXWHUIRUWKUHHVHFRQGVDQGWKHQ
LQLWLDWHWKH3%&RQWKHFOLHQWGHYLFH$OWHUQDWLYHO
\
SXVKWKH
œ
6
WDUW3%
&
ŔVRIWEXWWRQWRVWDUWWKLV
S
URFHVV

0
DQXDO
&
RQILJXUDWLRQ0HWKRG7KLVVHFWLRQOLVWVWKHGHIDXOW
VHFXULW\VHWWLQ
J
VWREHVHWXSLIQRWXVLQ
J
:3
6

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

:3$
5HTXLUHPHQWV
,03
2
57$17
,
QRU
G
HUWRXVH
:3$
VHFXU
L
W
\
D
OO
\
RXUFRPSXWHUVDQ
G
Z
L
UH
O
HVVF
OL
HQWD
G
DSWHUVPXVW
E
HXSJUD
G
H
G
Z
L
W
K
SDWF
K
HV
G
U
L
YHUDQ
G
FOLHQWXWLOLW
\
VR
I
WZDUHWKDWVXSSRUWHG:3$$WWKHWLPHR
I
WKLV8VHU
0DQXDOőVSXEOLFDWLRQDFRXSOHVHFXULW\SDWFKHVDUHDYDLODEOH
I
RU
I
UHHGRZQORDG
I
URP0LFURVR
IW
p

7K
HVHSDWF
K
HVZRU
N
RQ
O
\Z
L
W
K
W
K
H
:
LQGRZV;3RSHUDWLQ
J
V\VWHP
2
WKHURSHUDWLQ
J
V\VWHPVDUHQRW
V
XSSRUWHGDWWKLVWLPH
)RU:LQGRZV;3FRPSXWHUVWKDWGRQRWKDYH6HUYLFH3DFN
63
DILOHIURP0LFURVRIWFDOOHGœ:LQGRZV;36X
SS
RUW3DWFK
I
RU:LUHOHVV3URWHFWHG$FFHVV
.%
ŔLVDYDLODEOHIRUIUHH
GRZQORDGDWKWW
S

VX
SS
RUWPLFURVRIWFRP
NE

)RU:LQGRZV;3ZLWK
6
HUYLFH3DFN
0LFURVRIWKDVUHOHDVHG
D
I
UHHGRZQORDGWRXSGDWHWKHZLUHOHVVFOLHQWFRPSRQHQWVWR
V
XSSRUW:3$
.%
7KHXSGDWHLVDYDLODEOHIURPKWWS

V
XSSRUWPLFURVRIWFRP
NE

,03
2
57$17
<RXDOVRQHHGWRHQVXUHWKDWDOO\RXUZLUHOHVVFOLHQW
FDUGVDGDSWHUVVXSSRUW:3$DQGWKDW\RXKDYHGRZQORDGHGDQG
LQVWDOOHGWKHODWHVWGULYHU0RVWRIWKH%HONLQZLUHOHVVFDUGVKDYH
GULYHUX
S
GDWHVDYDLODEOHIRUGRZQORDGIURPWKH%HONLQVX
SS
RUWVLWH
ZZZEHONLQFRPQHWZRUNLQJ

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
6HWWLQJ:3$:3$3HUVRQDO36.
/LNH:3$VHFXULW
\
:3$LVDYDLODEOHLQERWK:3$3HUVRQDO36.PRGH
DQG:3$(QWHUSULVH5$',86PRGH7
\
SLFDOO
\
:3$3HUVRQDO36.LV
WK
HPR
G
HW
K
DWZ
LOO
E
HXVH
G
L
QD
K
RPHHQY
L
URQPHQWZ
KLO
H
:3$

(
QWHU
S
U
L
VH
5$',8
6
LVLP
S
OHPHQWHGLQDEXVLQHVVHQYLURQPHQWZKHUHDQH[WHUQDO
UD
GL
XVVHUYHU
GL
VWU
LE
XWHVW
K
HQHWZRU
N
N
H\WRW
K
HF
OL
HQWVDXWRPDW
L
FD
OO
\
<
RXU
5RXWHUVXSSRUWV:3$3HUVRQDO
3
6
.

$
IWHU\RXőYHVHWXS\RXU5RXWHU
J
RWRWKHœ6HFXULW\ŔSD
J
HXQGHUœ:LUHOHVVŔ
DQGVHOHFWœ:3$:3$3HUVRQDO36.ŔIURPWKHœ6HFXULW\0RGHŔGURS
GRZQPHQX

)RUœ$XWKHQWLFDWLRQŔVHOHFWœ:3$36.Ŕœ:3$36.ŔRUœ:3$36.
:
3$36.Ŕ7KLVVHWWLQJZLOOKDYHWREHLGHQWLFDORQWKHZLUHOHVVFOLHQWV
W
KDW
\
RXVHWXSœ:3$3
6
.:3$3
6
.ŔPRGHZLOODOORZWKH5RXWHUWR
V
XSSRUWF
OL
HQWVUXQQ
L
Q
J
H
L
W
K
HU
:3$
RU
:3$
VHFXU
L
W\
 œ(QFU\SWLRQ7HFKQLTXHŔVHOHFWœ7.,3Ŕœ$(
6
ŔRUœ7.,3$(
6
Ŕ7KLV
V
HWWLQ
J
ZLOOKDYHWREHLGHQWLFDORQWKHZLUHOHVVFOLHQWVWKDW\RXVHWXS

(QWHU\RXUSUHVKDUHGNH\36.7KLVFDQEHIURPHL
J
KWWR
FKDUDFWHUVDQGFDQEHOHWWHUVQXPEHUVRUV\PEROV7KLVVDPHNH\
P
XVWEHXVHGRQDOORIWKHZLUHOHVVFOLHQWVWKDW
\
RXVHWXS)RUH[DPSOH
\RXU36.PLJKWEHVRPHWKLQJOLNHœ6PLWKIDPLO\QHWZRUNNH\Ŕ&OLFN
œ
$SSO\&KDQJHVŔWRILQLVK<RXPXVWQRZVHWDOOZLUHOHVVFOLHQWVWR
P
DWF
K
W
K
HVHVHWW
L
Q
J
V
,03
2
57$17
0DNHVXUH\RXUZLUHOHVVFRPSXWHUVDUHXSGDWHGWRZRUNZLWK
:
3$DQGKDYHWKHFRUUHFWVHWWLQJVWRJHWSURSHUFRQQHFWLRQWRWKH5RXWHU

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

6
HWWLQ
J
:3$
6
HFXULW\
1
R
W
H
7
RXVH
:3$
VHFXU
L
W
\

\
RXUZ
L
UH
O
HVVQHWZRU
N
FDU
G
VPXVW
E
H
H
T
XL
SS
HGZLWKVR
I
WZDUHWKDWVX
SS
RUWV:3$$WWKHWLPHWKLV8VHU0DQXDO
ZDVSXEOLVKHGDVHFXULW
\
SDWFK
I
URP0LFURVR
I
WLVDYDLODEOH
I
RU
I
UHH
G
RZQ
O
RD
G

7KL
VSDWF
K
ZRU
N
VRQ
O
\Z
L
W
K
:L
Q
G
RZV
;3
<
RXU5RXWHUVXSSRUWV:3$3HUVRQDO
3
6
.
ZKLFKXVHVZKDWLVNQRZQ
DVDSUHVKDUHGNH\
3
6
.
DVWKHVHFXULW\NH\$SUHVKDUHGNH\LV
E
DVLFDOO\DSDVVZRUGWKDWLVEHWZHHQHLJKWDQGFKDUDFWHUVORQJ,W
FDQEHDFRPELQDWLRQRIOHWWHUVQXPEHUVRUFKDUDFWHUV(DFKFOLHQW
X
VHVWKHVDPHNH
\
WRDFFHVVWKHQHWZRUN7
\
SLFDOO
\
WKLVLVWKHPRGH
WK
DWZ
LOO
E
HXVH
G
L
QD
K
RPHHQY
L
URQPHQW

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
6
HWWLQ
J
:3$3
6.

)URPWKHœ
6
HFXULW
\
0RGHŔGURSGRZQPHQXVHOHFWœ:3$
:3$3HUVRQDO
3
6
.
Ŕ

 )RUœ(QFU\SWLRQ7HFKQLTXHŔVHOHFWœ7.,3ŔRUœ$(
6
Ŕ7KLVVHWWLQ
J
ZLOO
K
DYHWR
E
H
LG
HQW
L
FD
O
RQW
K
HF
OL
HQWVW
K
DW\RXVHWXS

 (QWHU\RXUSUHVKDUHGNH\7KLVFDQEH
I
URPHL
J
KWWRFKDUDFWHUVDQG
FDQEHOHWWHUVQXPEHUVRUV\PEROV7KLVVDPHNH\PXVWEHXVHGRQDOO
RIWKHFOLHQWVWKDW\RXVHWXS

&OLFNœ$SSO\&KDQJHVŔWRILQLVK<RXPXVWQRZVHWDOOFOLHQWVWRPDWFK
W
KHVHVHWWLQJV

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

6
HWWLQ
J
:(3(QFU\SWLRQ
1
R
W
H
W
R
0D
F
XVH
U
V
7K
H
œ3
DVV
SK
UDVH
Ŕ
R
S
W
L
RQZ
LOO
QRWR
S
HUDWHZ
L
W
K
$SSOH
p
$L
U
3
RUW
p
7RFRQ
I
LJXUHHQFU\SWLRQ
I
RU\RXU0DFFRPSXWHUVHWWKH
HQFU\SW
L
RQXV
L
Q
J
W
K
HPDQXD
O
PHW
K
R
G
G
HVFU
LE
H
G
L
QW
K
HQH[WVHFW
L
RQ

6
HOHFWœELW:(3ŔRUœELW:(3ŔIURPWKHGURSGRZQPHQX

$
I
WHUVHOHFWLQ
J
\RXU:(3HQFU\SWLRQPRGH\RXFDQHQWHU\RX
:
(3NH\PDQXDOO\E\W\SLQ
J
LQWKHKH[:(3NH\PDQXDOO\RU
\RXFDQW\SHDSDVVSKUDVHLQWKHœ3DVV3KUDVHŔILHOGDQGFOLFN
œ
*HQHUDWHŔWRFUHDWHD:(3NH\IURPWKHSDVVSKUDVH&OLFN
œ
$SSO\&KDQJHVŔWRILQLVK<RXPXVWQRZVHWDOORI\RXUFOLHQWVWR
P
DWF
K
W
K
HVHVHWW
L
QJV

 (QFU\SWLRQLQWKH5RXWHULVQRZVHW(DFKRI\RXUFRPSXWHUVRQ
\RXUZLUHOHVVQHWZRUNZLOOQRZQHHGWREHFRQILJXUHGZLWKWKH
V
DPHSDVVSKUDVH5HIHUWRWKHGRFXPHQWDWLRQRI
\
RXUZLUHOHVV
Q
HWZRUNDGDSWHUIRULQIRUPDWLRQRQPDNLQJWKLVFKDQJH

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
8V
L
QJD+H[DGHF
L
PDO.H\
$
KH[DGHFLPDONH
\
LVDPL[WXUHRIQXPEHUVDQGOHWWHUVIURP$Ŏ)
DQGŎELWNH\VDUHGLJLWVORQJDQGFDQEHGLYLGHGLQWRILYH
W
ZR
GL
J
L
WQXP
E
HUV
EL
W
N
H\VDUH
GL
J
L
WV
O
RQJDQ
G
FDQ
E
H
GL
Y
LG
H
G
L
QWRWZR
GLJL
WQXP
E
HUV
)R
U
L
Q
V
W
D
Q
FH
$
))%
&
'

EL
W
N
H
\
&
)$))%%
&
'%
&
'( ELWNH
\
,
QWKHER[HVEHORZPDNHXS\RXUNH\E\ZULWLQJLQWZRFKDUDFWHUV
E
HWZHHQ$Ŏ)DQGŎ<RXZLOOXVHWKLVNH\WRSURJUDPWKHHQFU\SWLRQ
V
HWWLQJVRQ\RXU5RXWHUDQG\RXUZLUHOHVVFRPSXWHUV
1
R
W
H
W
R
0
DF
XVH
U
V
2UL
J
LQDO$SSOH$LU3RUWSURGXFWVVXSSRUWELW
HQFU\SWLRQRQO\$SSOH$LU3RUWSURGXFWVFDQVXSSRUWELWRUELW
HQFU
\
SWLRQ3OHDVHFKHFN
\
RXUSURGXFWWRVHHZKLFKYHUVLRQ
\
RXDUH
X
VLQJ,I\RXFDQQRWFRQILJXUH\RXUQHWZRUNZLWKELWHQFU\SWLRQWU\

EL
WHQFU
\
SW
L
RQ

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

8
V
L
QJWKH$FFHVV3R
L
QW0RG
H
1
RWH
7
KLVDGYDQFHG
I
HDWXUHVKRXOGEHHPSOR\HGE\DGYDQFHGXVHUV
RQO\7KH5RXWHUFDQEHFRQILJXUHGWRZRUNDVDZLUHOHVVQHWZRUN
DFFHVVSRLQW8VLQJWKLVPRGHZLOOGHIHDWWKH1$7,3VKDULQJIHDWXUH
DQG'+&3VHUYHU,Q$FFHVV3RLQW
$3
PRGHWKH5RXWHUZLOOQHHGWR
E
HFRQILJXUHGZLWKDQ,3DGGUHVVWKDWLVLQWKHVDPHVXEQHWDVWKH
UHVWR
I
WKHQHWZRUNWKDW\RXZLOOEULGJHWR7KHGH
I
DXOW,3DGGUHVV
LV





D
Q
G
VXE
Q
H
WP
DVN
LV







7KHVH
FD
Q
EH
FXVWRPL]HG
I
RU\RXUQHHG

(
QD
EO
HW
K
H
$3
PR
G
HP\VH
O
HFW
L
Q
J
œ(
QD
EO
H
Ŕ
L
QW
K
H
œ8
VHDV
$
FFHVV
3RLQWRQO\ŔSD
J
H:KHQ\RXVHOHFWWKLVRSWLRQ\RXZLOOEHDEOHWR
FKDQJHWKH,3VHWWLQJV

6HW\RXU,3VHWWLQJVWRPDWFK\RXUQHWZRUN&OLF
N
œ
$SSO\&KDQJHVŔ

&RQQHFWDFDEOHIURPWKHœ0RGHPŔSRUWRQWKH5RXWHUWR
\
RXU
H[
L
VW
L
QJQHWZRU
N
7K
H
5
RXWHU
L
VQRZDFW
L
Q
J
DVDQDFFHVVSR
L
QW
7
RDFFHVVW
K
H
5
RXWHU
ő
V
:
HE%DVHG$GYDQFHG8VHU,QWHU
I
DFHD
J
DLQW\SHWKH,3DGGUHVV
\RXVSHFL
I
LHGLQWR\RXUEURZVHUőVQDYL
J
DWLRQEDU<RXFDQVHWWKH
HQFU\SWLRQVHWWLQ
J
V0$
&
DGGUHVVILOWHULQ
J

66
,'DQG
FKDQQHOQRUPDOO\

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
6
HWWLQ
J
0$
&
$GGUHVV
&
RQWURO
7
KH0$
&
DGGUHVVILOWHULVDSRZHUIXOVHFXULW
\
IHDWXUHWKDWDOORZV
\
RX
W
RVSHFL
I\
ZKLFKFRPSXWHUVDUHDOORZHGRQWKHZLUHOHVVQHWZRUN
1
RWH
7KL
V
OL
VWDSS
OL
HVRQ
O
\WRZ
L
UH
O
HVVFRPSXWHUV
7KL
V
OL
VWFDQ
E
H
FRQ
I
L
J
XUHGVRDQ\FRPSXWHUDWWHPSWLQ
J
WRDFFHVVWKHZLUHOHVVQHWZRUN
W
KDWLVQRWVSHFL
I
LHGLQWKH
I
LOWHUOLVWZLOOEHGHQLHGDFFHVV:KHQ\RX
HQDEOHWKLVIHDWXUH\RXPXVWHQWHUWKH0$&DGGUHVVRIHDFKFOLHQW
FRPSXWHUWRZKLFK\RXZDQWWRDOORZQHWZRUNDFFHVV7KHœ%ORFNŔ
I
HDWXUHOHWV
\
RXWXUQRQDQGRIIDFFHVVWRWKHQHWZRUNHDVLO
\
IRUDQ
\
FRPSXWHUZLWKRXWKDYLQJWRDGGDQGUHPRYHWKHFRPSXWHUőV0$&
DGGUHVV
I
URPWKHOLVW

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

6HWWLQJXSDQ$OORZ$FFHVV/LVW

6
HOHFWWKHœ$OORZŔUDGLREXWWRQ
WREHJLQVHWWLQJXSDOLVWRI
FRP
S
XWHUVD
OO
RZH
G
WRFRQQHFWWRW
K
HZ
L
UH
O
HVVQHWZRU
N

1H[WLQWKHœ0$
&
$GGUHVVŔILHOGWKDWLVEODQN
W
\
SH
L
QW
K
H
0$
&
DGGUHVVRIWKHZLUHOHVVFRPSXWHU
\
RXZDQWWREHDEOHWR
DFFHVVW
K
HZ
L
UH
O
HVVQHWZRU
N
W
K
HQF
OL
F
N
œ

$GGŔ

&
RQWLQXHWRGRWKLVXQWLODOORIWKHFRPSXWHUV\RXZDQWWRDGG
KD
Y
H
EHH
Q
H
QW
H
U
HG

&OLFNœ$SSO\&KDQJHVŔ
WRILQLVK
6
HWWLQJXSD'HQ\$FFHVV/LVW
7
KHœ'HQ
\
$FFHVVŔOLVWOHWV
\
RXVSHFLI
\
FRPSXWHUVWKDW
\
RX'2127
ZDQWWRDFFHVVWKHQHWZRUN$Q
\
FRPSXWHULQWKHOLVWZLOOQRWEH
DOORZHGDFFHVVWRWKHZLUHOHVVQHWZRUN$OORWKHUVZLOO

6HOHFWWKHœ'HQ
\
ŔUDGLREXWWRQ

WREHJLQVHWWLQJXSDOLVWRI
FRP
S
XWHUVWR
E
H
G
HQ
L
H
G
DFFHVVWRW
K
HZ
L
UH
O
HVVQHWZRU
N

1H[W
LQWKHœ0$
&
$GGUHVVŔILHOGWKDWLVEODQN
W
\
SH
L
QW
K
H
0$
&
DGGUHVVRIWKHZLUHOHVVFRPSXWHU\RXZDQWWRGHQ\DFFHVV
W
RWKHZLUHOHVVQHWZRUN
WKHQFOLFNœ$GGŔ

&RQWLQXHWRGRWKLVXQWLODOORIWKHFRPSXWHUV\RXZDQWWRGHQ\
DFFHVVWRKDYHEHHQHQWHUHG

&OLFNœ$SSO\&KDQJHVŔ
WRILQLVK

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
&RQIL
J
XULQ
J
WKH)LUHZDO
O
<
RXU5RXWHULVHTXLSSHGZLWKD
I
LUHZDOOWKDWZLOOSURWHFW
\
RXUQHWZRUN
I
URPDZLGHDUUD\R
I
FRPPRQKDFNHUDWWDFNVLQFOXGLQ
J
Ř ,3
6
SRRILQ
J
Ř /DQG$WWDFN3LQ
J
RI'HDWK
3R'
Ř 'HQLDORI
6
HUYLFH
'R
6
Ř ,3ZLWK]HUROHQJW
K
Ř
6
PXUI$WWDF
N
Ř 7
&
31XOO
6
FD
Q
Ř
6
<1IORR
G
Ř 8'3IORRGLQ
J
Ř
7
HDU
'
UR
S
$
WWDF
N
Ř ,
&
03GHIHF
W
Ř 5,3
GHIHFW
Ř )UD
J
PHQW
I
ORRGLQ
J
7
KHILUHZDOODOVRPDVNVFRPPRQSRUWVWKDWDUHIUHTXHQWO\XVHG
W
RDWWDFNQHWZRUNV7KHVHSRUWVDSSHDUWREHœVWHDOWKŔPHDQLQJ
W
KDWIRUDOOLQWHQWVDQGSXUSRVHVWKH
\
GRQRWH[LVWWRDZRXOGEH
K
DFNHU<RXFDQWXUQWKHILUHZDOOIXQFWLRQRIILIQHHGHGKRZHYHULW
LVUHFRPPHQGHGWKDW\RXOHDYHWKH
I
LUHZDOOHQDEOHG'LVDEOLQJWKH
I
LUHZDOOSURWHFWLRQZLOOQRWOHDYH
\
RXUQHWZRUNFRPSOHWHO
\
YXOQHUDEO
H
W
R
K
DF
N
HUDWWDF
N
V
E
XW
L
W
L
VUHFRPPHQ
G
H
G
W
K
DW\RX
O
HDYHW
KH
I
LU
H
Z
D
OO
H
Q
DE
O
HG

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

&RQ
I
LJXULQJ,QWHUQDO)RUZDUGLQJ6HWWLQJV
7
KH9LUWXDO6HUYHUVIXQFWLRQZLOODOORZ
\
RXWRURXWHH[WHUQDO,QWHUQHW
FDOOVIRUVHUYLFHVVXFKDVDZHEVHUYHU
S
RUW
)73VHUYHU
3RUW
RURW
K
HUDSS
OL
FDW
L
RQVW
K
URXJ
K
\RXU
5
RXWHUWR\RXU
L
QWHUQD
O
QHWZRU
N
6
LQFH
\
RXULQWHUQDOFRPSXWHUVDUHSURWHFWHGE
\
DILUHZDOOFRPSXWHUV
RXWVLGH\RXUQHWZRUN
RYHUWKH,QWHUQHW
FDQQRW
J
HWWRWKHPEHFDXVH
W
KH\FDQQRWEHœVHHQŔ$OLVWR
I
FRPPRQDSSOLFDWLRQVKDVEHHQ
S
URYLGHGLQFDVH\RXQHHGWRFRQIL
J
XUHWKH9LUWXDO6HUYHUIXQFWLRQ
I
RUDVSHFLILFDSSOLFDWLRQ,I\RXUDSSOLFDWLRQLVQRWOLVWHG\RXZLOO
Q
HHGWRFRQWDFWWKHDSSOLFDWLRQYHQGRUWRILQGRXWZKLFKSRUWVHWWLQJV
\
RXQHHG
&
KRRVLQJDQ$SSOLFDWLRQ
6
HOHFW
\
RXUDSSOLFDWLRQIURPWKHGURSGRZQOLVW&OLFNœ$GGŔ7KH
V
HWWLQJVZLOOEHWUDQVIHUUHGWRWKHQH[WDYDLODEOHVSDFHLQWKHVFUHHQ
&OLFNœ$SSO\&KDQJHVŔWRVDYHWKHVHWWLQJIRUWKDWDSSOLFDWLRQ7R
UHPRYHDQDSSOLFDWLRQVHOHFWWKHQXPEHUR
I
WKHURZWKDW
\
RXZDQWWR
UHPRYHWKHQFOLFNœ
&
OHDUŔ
0DQXDOO\(QWHULQ
J
6HWWLQ
J
VLQWRWKH9LUWXDO6HUYHU
7
RPDQXD
OO
\HQWHUVHWW
L
Q
J
VHQWHUW
K
H
,3
D
GG
UHVV
L
QW
K
HVSDFHSURY
LG
H
G
I
RUWKHLQWHUQDO
VHUYHU
PDFKLQHWKHSRUW
V
UHTXLUHGWRSDVV
XVHD
FRPPDEHWZHHQPXOWLSOHSRUWVVHOHFWWKHSRUWW\SH7&3RU8'3
DQGFOLFNœ$SSO\&KDQJHVŔ<RXFDQRQO\SDVVRQHSRUWSHULQWHUQDO,3
DGGUHVV2SHQLQJSRUWVLQ\RXUILUHZDOOFDQSRVHDVHFXULW\ULVN<RX
FDQHQDEOHDQGGLVDEOHVHWWLQJVYHU\TXLFNO\,WLVUHFRPPHQGHGWKDW
\RXGLVDEOHWKHVHWWLQJVZKHQ\RXDUHQRWXVLQJDVSHFLILFDSSOLFDWLRQ

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
6HWWLQJ&OLHQW,3)LOWHUV
7
KH5RXWHUFDQEHFRQILJXUHGWRUHVWULFWDFFHVVWRWKH,QWHUQHW
HPDLORURWKHUQHWZRUNVHUYLFHVDWVSHFLILFGD
\
VDQGWLPHV5HVWULFWLRQ
FDQEHVHW
I
RUDVLQJOHFRPSXWHUDUDQJHR
I
FRPSXWHUV
RUPX
O
W
LSO
HFRP
S
XWHUV
7
RUHVWULFW,QWHUQHWDFFHVVWRDVLQ
J
OHFRPSXWHU
I
RUH[DPSOHHQWHUWKH
,
3DGGUHVVR
I
WKHFRPSXWHU\RXZLVKWRUHVWULFWDFFHVVWRLQWKH,3
I
L
H
O
GV
1H[WHQWHUœŔLQERWKWKHSRUW
I
LHOGV
6
HOHFWœ%RWKŔ
6
HOHFWœ%ORFNŔ
<RXFDQDOVRVHOHFWœ$OZD\VŔWREORFNDFFHVVDOO
RIWKHWLPH6HOHFWWKHGD\WRVWDUWRQWRS
WKHWLPHWRVWDUWRQWRS
WKHGD
\
WRHQGRQWKHERWWRP
DQGWKHWLPHWRVWR
S
RQWKH
E
RWWRP
6
HOHFWœ(QDEOHŔ
&OLFNœ$SSO\&KDQJHVŔ7KHFRPSXWHUDW
W
KH,3DGGUHVV
\
RXVSHFL
I
LHGZLOOQRZEHEORFNHG
I
URP,QWHUQHWDFFHVV
DWWKHWLPHV
\
RXVSHFL
I
LHG
1
RWH
%
HVXUH
\
RX
K
DYHVH
O
HFWH
G
W
K
H
FRUUHFWWLPH]RQHXQGHUœ8WLOLWLHV!
6
\VWHP
6
HWWLQ
J
V!7LPH=RQHŔ

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

(QDEOLQJWKH'HPLOLWDUL]HG=RQH'0=
7
KH'0=IHDWXUHDOORZV
\
RXWRVSHFLI
\
RQHFRPSXWHURQ
\
RXUQHWZRUN
W
REHSODFHGRXWVLGHRIWKHILUHZDOO7KLVPD
\
EHQHFHVVDU
\
LIWKH
I
LUHZDOOLVFDXVLQJSUREOHPVZLWKDQDSSOLFDWLRQVXFKDVDJDPHRU
YLGHRFRQ
I
HUHQFLQ
J
DSSOLFDWLRQ8VHWKLV
I
HDWXUHRQDWHPSRUDU\EDVLV
7K
HFRPSXWHU
L
QW
K
H
'0=
L
V1
27
SURWHFWHG
I
URPKDFNHUDWWDFNV
7
RSXWDFRPSXWHULQWKH'0=HQWHUWKHODVWGL
J
LWVRILWV,3DGGUHVVLQ
W
KH,3ILHOGDQGVHOHFWœ(QDEOHŔ&OLFNœ$SSO\&KDQJHVŔIRUWKHFKDQJH
W
RWDNHHIIHFW,I\RXDUHXVLQJPXOWLSOHVWDWLF:$1,3DGGUHVVHVLW
LV
S
RVVLEOHWRVHOHFWZKLFK:$1,3DGGUHVVWKH'0=KRVWZLOOEH
GL
UHFWH
G
WR
7\
SH
L
QW
K
H
:$1
,3
D
GG
UHVV
\
RXZ
L
V
K
W
K
H
'0=
K
RVWWR
GLUHFWWRHQWHUWKHODVWWZRGL
J
LWVR
I
WKH,3DGGUHVVR
I
WKH'0=KRVW
FRPSXWHUVHOHFWœ(QDEOHŔDQGFOLFNœ$SSO\
&
KDQ
J
HVŔ

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
8VLQ
J
'\QDPLF'16
7
KH'
\
QDPLF'1
6
VHUYLFHDOORZV
\
RXWRDOLDVDG
\
QDPLF,3DGGUHVVWRD
V
WDWLFKRVWQDPHLQDQ\RIWKHPDQ\GRPDLQV'\Q'1
6
RU
J
RIIHUVDOORZLQ
J
\RXUQHWZRUNFRPSXWHUVWREHPRUHHDVLO\DFFHVVHG
I
URPYDULRXVORFDWLRQV
RQWKH,QWHUQHW'\Q'1
6
RU
J
SURYLGHVWKLVVHUYLFHIRUXSWRILYHKRVWQDPHV
I
UHHWRWKH,QWHUQHWFRPPXQLW\
7
KH'\QDPLF'1
6
60
VHUYLFHLVLGHDOIRUDKRPHZHEVLWHILOHVHUYHURUWR
P
DNHLWHDV\WRDFFHVV\RXUKRPH3&DQGVWRUHGILOHVZKLOH\RXőUHDWZRUN
8
VLQJWKHVHUYLFHFDQHQVXUHWKDW\RXUKRVWQDPHDOZD\VSRLQWVWR\RXU,3
DGGUHVVQRPDWWHUKRZRIWHQ\RXU,63FKDQJHVLW:KHQ\RXU,3DGGUHVV
FKDQJHV\RXU
I
ULHQGVDQGDVVRFLDWHVFDQDOZD\VORFDWH\RXE\YLVLWLQJ
\RXUQDPH
G
\Q
G
QVRU
J
L
QVWHD
G
7
RUH
J
LVWHUIUHHIRU\RXU'\QDPLF'1
6
KRVWQDPHSOHDVHYLVLW
K
WWS

ZZZG\QGQVRUJ
6
HWWLQJXSWKH5RXWHUÝV'\QDPLF'1
6
8SGDWH
&
OLHQW
<
RXPXVWUH
J
LVWHUZLWK'\Q'16RU
J
őVIUHHXSGDWHVHUYLFHEHIRUH
X
VLQJWKLVIHDWXUH2QFH\RXKDYH\RXUUHJLVWUDWLRQIROORZWKHGLUHFWLRQV
E
HORZ

6HOHFW'
\
Q'16DVWKHœ''166HUYLFHŔ

(QWHU\RXU'\Q'16RUJXVHUQDPHLQWKHœ8VHU1DPHŔILHOG

(QWHU\RXU'\Q'1
6
RUJSDVVZRUGLQWKHœ3DVVZRUGŔILHO
G


(QWHUWKH'\Q'1
6
RU
J
GRPDLQQDPH\RXVHWXSZLWK'\Q'1
6
RU
J
LQWKH
œ
'
R
P
D
LQ1
D
P
H
Ŕ
I
L
H
O
G

&
OLFNœ8SGDWH'\QDPLF'1
6
Ŕ
W
RXS
G
DWH\RXU
,3
D
GG
UHVV
:
KHQHYHU\RXU,3DGGUHVVDVVL
J
QHGE\\RXU,63FKDQ
J
HVWKH5RXWHUZLOO
DXWRPDWLFDOO\XSGDWH'\Q'16RUJőVVHUYHUVZLWK\RXUQHZ,3DGGUHVV<RXFDQDOVR
GRWKLVPDQXDOO\E\FOLFNLQJWKHœ8SGDWH'\QDPLF'16ŔEXWWRQ

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

%ORFNLQJDQ,&033LQJ
&RPSXWHUKDFNHUVXVHZKDWLVNQRZQDVœSLQJLQJŔWRILQGSRWHQWLDO
YLFWLPVRQWKH,QWHUQHW%\SLQJLQJDVSHFLILF,3DGGUHVVDQGUHFHLYLQJ
DUHV
S
RQVH
I
URPWKH,3DGGUHVVDKDFNHUFDQGHWHUPLQHWKDW
V
RPHWKLQ
J
R
I
LQWHUHVWPL
J
KWEHWKHUH7KH5RXWHUFDQEHVHWXSVRLW
ZLOOQRWUHVSRQGWRDQ,
&
03SLQ
J
IURPWKHRXWVLGH7KLVKHL
J
KWHQV\RXU
5RXWHUőVVHFXULW\OHYHO
7
RWXUQRIIWKHSLQJUHVSRQVHVHOHFWœ%ORFN,&033LQJŔ
DQ
G
F
OL
F
N
œ
$SSO\
&
KDQ
J
HVŔ7KH5RXWHUZLOOQRWUHVSRQGWRDQ,
&
03SLQ
J
8
W
L
O
L
W
LHV
7
KHœ8WLOLWLHVŔVFUHHQOHWV\RXPDQDJHGLIIHUHQWSDUDPHWHUVRIWKH
5RXWHUDQG
S
HUIRUPFHUWDLQDGPLQLVWUDWLYHIXQFWLRQV

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
5HVWDUWLQ
J
WKH5RXWHU
6
RPHWLPHVLWPD
\
EHQHFHVVDU
\
WRUHVWDUWRUUHERRWWKH5RXWHULILW
E
H
JL
QVZRU
NL
Q
J
L
PSURSHU
O
\
5
HVWDUW
L
Q
J
RUUH
E
RRW
L
Q
J
W
K
H
5
RXWHUZ
LOO
1
2
7GHOHWHDQ\R
I
\RXUFRQ
I
L
J
XUDWLRQVHWWLQ
J
V
5HVWDUWLQJWKH5RXWHUWR5HVWRUH1RUPDO
2
SHUDWLRQ

&
OLFNWKHœ5HVWDUW
5RX
W
H
U
Ŕ
EX
WW
R
Q

 7KHIROORZLQJPHVVDJH
ZLOOD
SS
HDU
&
OLFNœ
2

 7KH
I
ROORZLQ
J
PHVVD
J
H
ZLOODSSHDU5HVWDUWLQ
J
W
K
H
5
RX
W
H
U
FD
QW
D
N
H
X
SWRVHFRQGV,WLV
LP
S
RUWDQWQRWWRWXUQRII
W
KH
S
RZHUWRWKH5RXWHU
G
XU
L
QJW
K
HUHVWDUW

$
VHFRQ
G
FRXQW
G
RZQZ
LOO
D
SS
HDURQW
K
HVFUHHQ
:K
HQW
K
H
FRXQW
G
RZQUHDF
K
HV]HUR
W
K
H
5
RXWHUZ
LOO
E
HUHVWDUWH
G

7K
H
5
RXWHU
K
RPHSD
J
HVKRXOGDSSHDUDXWRPDWLFDOO\,
I
QRWW\SHLQWKH
5RXWHUőVDGGUHVVGHIDXOWLQWRWKHQDYL
J
DWLRQ
E
DURI\RXUEURZVHU

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

5HVWRULQ
J
)DFWRU\'HIDXOW6HWWLQ
J
V
8
VLQJWKLVRSWLRQZLOOUHVWRUHDOOR
I
WKHVHWWLQJVLQWKH5RXWHUWRWKH
I
DFWRU\
GHIDXOW
VHWWLQ
J
V,WLVUHFRPPHQGHGWKDW\RXEDFNXS\RXU
V
HWWLQ
J
VEH
I
RUH\RXUHVWRUHDOOR
I
WKHGH
I
DXOWV

&
OLFNWKHœ5HVWRUH
'HIDXOWVŔEXWWRQ
$
VHFRQ
G
FRXQW
G
RZQZ
LOO
DSSHDURQW
K
HVFUHHQ
:K
HQW
K
H
F
RXQWGRZQUHDFKHV]HUR
WKH5RXWHUőVGH
I
DXOWVZLOOEHUHVWRUHG
7
KH5RXWHUKRPHSD
J
HVKRXOGDSSHDUDXWRPDWLFDOO\,ILWGRHV
Q
RWW\SHLQWKH5RXWHUőVDGGUHVVGHIDXOW LQWRWKH
Q
DYLJDWLRQEDURI\RXUEURZVHU

7KHIROORZLQJPHVVDJH
ZLOOD
SS
HDU&OLFNœ2.Ŕ

7KH
I
ROORZLQJPHVVDJH
Z
LOO
DSSHDU
5
HVWRU
L
Q
J
W
K
H
GHIDX
OW
V
LQ
F
O
XGHV
UHVWDUW
L
Q
J
W
K
H
5
RXWHU
,
WFDQWDNHXSWR
V
HFRQGV,WLVLPSRUWDQW
Q
RWWRWXUQWKHSRZHU
W
RWKH5RXWHURIIGXULQJ
WK
HUHVWDUW

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
6DYLQ
J
D&XUUHQW&RQIL
J
XUDWLRQ
<
RXFDQVDYH\RXUFXUUHQWFRQILJXUDWLRQE\XVLQJWKLVIHDWXUH
6
DYLQJ
\RXUFRQ
I
L
J
XUDWLRQZLOODOORZ\RXWRUHVWRUHLWODWHUL
I
\RXUVHWWLQ
J
VDUH
O
RVWRUF
K
DQ
J
H
G

,
W
L
VUHFRPPHQ
G
H
G
W
K
DW\RX
E
DF
N
XS\RXUFXUUHQW
FRQ
I
L
J
XUDWLRQEH
I
RUHSHU
I
RUPLQ
J
D
I
LUPZDUHXSGDWH

&
OLFNœ
6
DYHŔ$ZLQGRZ
FDOOHGœ)LOH'RZQORDGŔ
ZLOOR
S
HQ&OLFNœ6DYHŔ

$ZLQGRZZLOOR
S
HQWKDW
D
OO
RZV
\
RXWRVH
O
HFW
WKH
ORFD
W
LR
QZ
KH
U
H
\
RXZDQWWRVDYHW
K
H
FRQIL
J
XUDWLRQILOH
6
HOHFW
D
O
RFD
WL
R
Q<
RX
FD
Q
Q
DPHWKHILOHDQ\WKLQ
J
\RXZDQWRUXVHWKH
GHIDXOWQDPHœXVHU
FRQIŔ%HVXUHWRQDPH
W
KH
I
LOHVR
\
RXFDQ
ORFDWHLW
\
RXUVHO
I
ODWHU
:K
HQ
\
RX
K
DYHVH
O
HFWH
G
WKH
ORFD
W
LR
Q
D
Q
G
Q
D
P
H
RIWKHILOH
FOLFNœ
6
DYHŔ

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

 :KHQWKHVDYHLV
F
RPSOHWH
\
RXZLOOVHH
WK
HZ
L
Q
G
RZ
E
H
O
RZ
&
OLFNœ
&
ORVHŔ
 7KHFRQ
I
L
J
XUDWLRQLV
Q
R
Z
VD
Y
HG
5HVWRULQJD3UHYLRXV&RQ
I
LJXUDWLRQ
7
KLVRSWLRQZLOODOORZ\RXWRUHVWRUHDSUHYLRXVO\VDYHGFRQILJXUDWLRQ
&
OLFNœ%URZVHŔ$
ZLQGRZZLOOR
S
HQWKDW
D
OORZV
\
RXWRVHOHFW
W
KHORFDWLRQRIWKH
F
RQ
I
L
J
XUDWLRQ
I
LOH$OO
F
RQ
I
L
J
XUDWLRQ
I
LOHVHQG
ZLWK
D
œ
FR
Q
I
Ŕ/
RFD
W
H
W
KHFRQ
I
L
J
XUDWLRQ
I
LOH
\RXZDQWWRUHVWRUHDQG
G
RXEOHFOLFNRQLW

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH

<
RXZLOOEHDVNHGL
I
\
RXZDQWWRFRQWLQXH
&
OLFNœ
2
.Ŕ
$
U
H
P
L
Q
GH
UZ
L
Q
GR
Z
Z
LOO
DSSHDU
,
WZ
LOO
WD
N
H
X
SWRVHFRQGV
I
RUWKHFRQIL
J
XUDWLRQ
UHVWRUDWLRQWRFRPSOHWH
&
OLFNœ
2
.Ŕ

 $VHFRQGFRXQWGRZQZLOOD
SS
HDURQWKHVFUHHQ:KHQWKH
FRXQWGRZQUHDFKHV]HURWKH5RXWHUőVFRQILJXUDWLRQZLOOEH
UHVWRUHG7KH5RXWHUKRPHSDJHVKRXOGDSSHDUDXWRPDWLFDOO\,I
Q
RWW
\
SHLQWKH5RXWHUőVDGGUHVV
GHIDXOW 
LQWRWKH
Q
DYL
J
DWLRQEDUR
I
\RXUEURZVHU
8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

8SGDWLQ
J
WKH)LUPZDUH
)
URPWLPHWRWLPH%HONLQPD
\
UHOHDVHQHZYHUVLRQVR
I
WKH5RXWHUőV
I
LUPZDUH)LUPZDUHX
S
GDWHVFRQWDLQ
I
HDWXUHLP
S
URYHPHQWVDQG
I
L[HVWR
S
UREOHPVWKDWPD\KDYHH[LVWHG:KHQ%HONLQUHOHDVHVQHZ
I
LUPZDUH
\RXFDQGRZQORDGWKH
I
LUPZDUH
I
URPWKH%HONLQXSGDWHZHEVLWHDQG
XSGDWH\RXU5RXWHUőVILUPZDUHWRWKHODWHVWYHUVLRQ
&KHFNLQ
J
IRUD1HZ9HUVLRQRI)LUPZDUH
7
KHœ
&
KHFN)LUPZDUHŔ
EXWWRQDOORZV
\
RXWRLQVWDQWO
\
FKHFN
I
RUD
QHZYHUVLRQR
I
I
LUPZDUH:KHQ
\
RXFOLFNWKHEXWWRQDQHZEURZVHU
ZLQGRZZLOODSSHDULQ
I
RUPLQ
J
\RXWKDWHLWKHUQRQHZ
I
LUPZDUHLV
D
Y
D
LO
DE
O
H
R
UWK
D
WWK
H
U
H
L
V
D
Q
H
ZY
H
U
V
L
R
Q
D
Y
D
LO
DE
O
H
,
I
D
Q
H
ZY
H
U
V
L
R
QL
V
DYDLODEOH\RXZLOOKDYHWKHRSWLRQWRGRZQORDGLW

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
'RZQORDGLQJD1HZ9HUVLRQR
I
)LUPZDUH
,
I
\
RXFOLFNWKHœ&KHFN)LUPZDUHŔEXWWRQDQGDQHZYHUVLRQRI
I
LUPZDUHLVDYDLODEOH
\
RXZLOOVHHDVFUHHQVLPLODUWRWKHRQHEHORZ

 7RGRZQORDGWKHQHZYHUVLRQR
I
I
LUPZDUH
FOLFNœ'RZQORDGŔ

$
Z
L
Q
G
RZZ
LOO
RSHQW
K
DWD
OO
RZV\RXWRVH
O
HFWW
K
H
O
RFDW
L
RQZ
K
HUH
\RXZDQWWRVDYHWKHILUPZDUHILOH
6
HOHFWDORFDWLRQ<RXFDQ
Q
DPHWKHILOHDQ\WKLQ
J
\RXZDQWRUXVHWKHGHIDXOWQDPH%HVXUH
W
RORFDWHWKHILOHLQDSODFHZKHUH\RXFDQORFDWHLW\RXUVHOIODWHU
:
KHQ
\
RXKDYHVHOHFWHGWKHORFDWLRQFOLFNœ6DYHŔ

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

8
SGDWLQ
J
WKH5RXWHUÝV)LUPZDU
H

,
QW
KH
œ)L
UPZ
D
U
H
8
S
G
DWH
Ŕ
SD
J
HF
OL
F
N
œ%
U
R
Z
VHŔ

$
Z
L
Q
GR
ZZ
LOO
R
SHQWKDWDOORZV\RXWR
VHOHFWWKHORFDWLRQRI
W
KHILUPZDUHXSGDWHILOH
 :KHQWKHVDYHLV
FRPSOHWH
\
RXZLOOVHH
W
KHIROORZLQJZLQGRZ
&
OLFNœ
&
ORVHŔ
7K
H
GR
ZQO
RDG
RI
WK
H
I
LUPZDUHLVFRPSOHWH
7
RXSGDWHWKH
I
LUPZDUH
I
ROORZWKHQH[WVWHS
V
LQœ8SGDWLQJWKH
5RXWHUőV)LUPZDUHŔ

%URZVHWRWKHILUPZDUH
I
LOH
\
RXGRZQORDGHG
6
HOHFWWKHILOHE
\
G
RX
EO
HF
OL
F
NL
Q
J
RQW
K
H
I
LO
H
Q
D
P
H
8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
 7KHœ8SGDWH)LUPZDUHŔ
E
R[ZLOOQRZGLVSOD
\
WK
H
O
RFDW
L
RQDQ
G
QDPH
R
I
WKH
I
LUPZDUH
I
LOH
\
RX
M
XVWVHOHFWHG
&
OLFN
œ8
S
G
DWH
Ŕ

<
RXZ
LOO
VHHRQHPRUHPHVVD
J
H
7KL
VPHVVD
J
HWH
OO
V\RXW
K
DW
W
KH5RXWHUPD\QRWUHVSRQG
I
RUDVORQ
J
DVRQHPLQXWHDVWKH
I
LUPZ
D
U
H
L
V
O
RDGHG
LQW
R
WK
H
5
RX
W
H
U
D
Q
G
WK
H
5
RX
W
H
UL
V
U
HERR
W
HG
&
OLFNœ
2
.Ŕ

 $VHFRQGFRXQWGRZQZLOODSSHDURQWKHVFUHHQ:KHQWKH
FRXQWGRZQUHDFKHV]HURWKH5RXWHUILUPZDUHX
S
GDWHZLOOEH
FRPSOHWH7KH5RXWHUKRPHSDJHVKRXOGDSSHDUDXWRPDWLFDOO\,I
Q
RWW
\
SHLQWKH5RXWHUőVDGGUHVV
GHIDXOW 
LQWRWKH
Q
DYL
J
DWLRQEDUR
I
\RXUEURZVHU

 <RXZLOOEHDVNHGLI
\
RX
DUHVXUH
\
RXZDQ
W
W
R
FRQWLQXH
&
OLFNœ
2

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

&
KDQ
J
LQ
J
6
\VWHP
6
HWWLQ
JV
7
KHœ
6
\VWHP
6
HWWLQJVŔSDJHLVZKHUH\RXFDQHQWHUDQHZ
D
G
P
L
Q
L
VWUDWRU
S
DVVZRU
G
VHWW
K
HW
L
PH]RQHHQD
EO
HUHPRWH
P
DQD
J
HPHQWDQGWXUQRQDQGR
II
WKH1$7
I
XQFWLRQR
I
WKH5RXWHU
6
HWWLQJRU
&
KDQJLQJWKH$GPLQLVWUDWRU3DVVZRUG
7
KH5RXWHUVKLSVZLWK1
2
SDVVZRUGHQWHUHG,I\RXZLVKWRDGGD
S
DVVZRUG
I
RU
J
UHDWHUVHFXULW\\RXFDQVHWDSDVVZRUGKHUH:ULWH
GRZQ\RXUSDVVZRUGDQGNHHSLWLQDVDIHSODFHDV\RXZLOOQHHGLWLI
\RXQHHGWRORJLQWRWKH5RXWHULQWKHIXWXUH,WLVDOVRUHFRPPHQGHG
W
KDW\RXVHWDSDVVZRUGLI\RXSODQWRXVHWKHUHPRWHPDQDJHPHQW
I
HDWXUHRI
\
RXU5RXWHU
&KDQ
J
LQ
J
WKH/R
J
LQ7LPH2XW6HWWLQ
J
7
KHOR
J
LQWLPHRXWRSWLRQDOORZV\RXWRVHWWKHSHULRGR
I
WLPHWKDW\RX
FDQEHOR
JJ
HGLQWRWKH5RXWHUőVDGYDQFHGVHWXSLQWHU
I
DFH7KHWLPHU
V
WDUWVZKHQWKHUHKDVEHHQQRDFWLYLW\)RUH[DPSOHLPD
J
LQH\RXKDYH
P
DGHVRPHFKDQ
J
HVLQWKHDGYDQFHGVHWXSLQWHUIDFHWKHQOHIW\RXU
FRPSXWHUDORQHZLWKRXWFOLFNLQJœ/RJRXWŔ$VVXPLQJWKHWLPHRXWLV
V
HWWRPLQXWHVPLQXWHVDIWHU\RXOHDYHWKHORJLQVHVVLRQZLOO
H[SLUH<RXZLOOKDYHWRORJLQWRWKH5RXWHUDJDLQWRPDNHDQ\PRUH
FKDQJHV7KHORJLQWLPHRXWRSWLRQLV
I
RUVHFXULW\SXUSRVHVDQGWKH
GHIDX
OWL
V
VH
WW
R

PLQ
X
W
HV
1
RWH
2
QO\RQHFRPSXWHUFDQEHOR
JJ
HGLQWRWKH5RXWHUőVDGYDQFHG
V
HWXSLQWHU
I
DFHDWRQHWLPH
Y

8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
6HWWLQJWKH7LPHDQG7LPH=RQH
7
KH5RXWHUNHHSVWLPHE\FRQQHFWLQJWRD6LPSOH1HWZRUN7LPH
3URWRFRO6173VHUYHU7KLVDOORZVWKH5RXWHUWRV
\
QFKURQL]HWKH
V
\VWHPF
O
RF
N
WRW
K
HJ
O
R
E
D
O
,
QWHUQHW
7K
HV\QF
K
URQ
L
]H
G
F
O
RF
N
L
QW
K
H
5RXWHULVXVHGWRUHFRUGWKHVHFXULW\OR
J
DQGFRQWUROFOLHQW
I
LOWHULQ
J
6
HOHFWWKHWLPH]RQHWKDW\RXUHVLGHLQ<RXKDYHWKHRSWLRQWRVHOHFW
DSULPDU\DQGDEDFNXS173VHUYHUWRNHHS\RXU5RXWHUőVFORFN
V
\QFKURQL]HG6HOHFW\RXUGHVLUHG137VHUYHUIURPWKHGURSGRZQ
E
R[RUVLPSO\NHHSLWDVLV
,
I\RXUHVLGHLQDQDUHDWKDWREVHUYHVGD\OLJKWVDYLQJWKHQSODFHD
FKHFNPDUNLQWKHER[QH[WWRœ(QDEOH'D\OLJKW6DYLQJŔ7KHV\VWHP
FORFNPD
\
QRWXSGDWHLPPHGLDWHO
\
$OORZDWOHDVWPLQXWHVIRUWKH
5
RXWHUWRFRQWDFWW
K
HW
L
PHVHUYHUVRQW
K
H
,
QWHUQHWDQ
G
JHWDUHVSRQVH
<
RXFDQQRWVHWWKHFORFN
\
RXUVHO
I
(QDEO
L
QJ5HPRWH0DQDJHPHQW
%HIRUH\RXHQDEOHWKLVDGYDQFHGIHDWXUHRI\RXU%HONLQ5RXWHU
0
$.(
68
5(<
28
+$9(
6
(77+($'0,1,
6
75$7
2
53$
66
:
2
5
'
5HPRWH
P
DQDJHPHQWDOORZV\RXWRPDNHFKDQJHVWR\RXU5RXWHUőVVHWWLQJV
I
URPDQ
\
ZKHUHRQWKH,QWHUQHW7KHUHDUHWZRPHWKRGVRIUHPRWHO
\
P
DQDJLQJWKH5RXWHU7KH
I
LUVWLVWRDOORZDFFHVVWRWKH5RXWHU
I
URP
DQ\Z
K
HUHRQW
K
H
,
QWHUQHW
E
\VH
O
HFW
L
Q
J
œ$
Q\
,3
D
GG
UHVVFDQUHPRWH
O
\
P
DQD
J
HWKH5RXWHUŔ%\W\SLQ
J
LQ\RXU:$1,3DGGUHVV
I
URPDQ\
FRPSXWHURQW
K
H
,
QWHUQHW\RXZ
LOO
E
HSUHVHQWH
G
Z
L
W
K
D
O
R
JL
QVFUHHQ
ZKHUH\RXQHHGWRW\SHLQWKHSDVVZRUGR
I
\RXU5RXWHU,3
7
KHVHFRQGPHWKRGLVWRDOORZDVSHFLILF,3DGGUHVVRQO\WRUHPRWHO\
P
DQDJHWKH5RXWHU7KLVLVPRUHVHFXUHEXWOHVVFRQYHQLHQW7RXVH
W
KLVPHWKRGHQWHUWKH,3DGGUHVV\RXNQRZ\RXZLOOEHDFFHVVLQJWKH
5RXWHUIURPLQWKHVSDFHSURYLGHGDQGVHOHFWœ2QO
\
WKLV,3DGGUHVV
FDQUHPRWHO\PDQDJHWKH5RXWHUŔ%H
I
RUH\RXHQDEOHWKLV
I
XQFWLRQ
LWLV
6
75
2
1
*
/<5(
&2
00(1'('WKDW
\
RXVHW
\
RXUDGPLQLVWUDWRU
S
DVVZRU
G

/
HDY
L
Q
J
W
K
HSDVVZRU
G
HPSW\Z
LOO
SRWHQW
L
D
OO
\RSHQ\RXU
5RX
W
H
UW
R
L
QWU
XVLR
Q
8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH
VHFWLRQ

$G
YDQFH
G
)
HDWXUH
7K
H
œ5
HPRWH
$
FFHVV
3
RUW
Ŕ
RSW
L
RQD
OO
RZV\RXWR
FRQ
I
LJXUHWKHGHVLUHGœ5HPRWH$FFHVV3RUW
I
RU5HPRWH0DQDJHPHQWŔ
I
HDWXUH7KHGHIDXOWDFFHVVSRUWLVVHWWRSRUW
(QDEOLQ
J
'LVDEOLQ
J
1$71HWZRUN$GGUHVV7UDQVODWLRQ
1
RWH
7KLVDGYDQFHG
I
HDWXUHVKRXOGEHHPSOR
\
HGE
\
DGYDQFHG
X
VHUVRQ
O\
%H
I
RUHHQDEOLQ
J
WKLV
I
XQFWLRQ 0$.(
6
85(<
2
8+$9(
6
(77+(
$
'0,1,
6
75$7
2
53$
66
:
2
5
'
1HWZRUN$GGUHVV7UDQVODWLRQ
1$7
LV
W
KHPHWKRGE\ZKLFKWKH5RXWHUVKDUHVWKHVLQ
J
OH,3DGGUHVVDVVL
J
QHG
E
\\RXU,63ZLWKWKHRWKHUFRPSXWHUVRQ\RXUQHWZRUN7KLVIXQFWLRQ
V
KRXOGRQO\EHXVHGLI\RXU,63DVVLJQV\RXPXOWLSOH,3DGGUHVVHVRU
\RXQHHG1$7GLVDEOHGIRUDQDGYDQFHGV\VWHPFRQILJXUDWLRQ,I\RX
K
DYHDVLQJOH,3DGGUHVVDQG\RXWXUQ1$7RIIWKHFRPSXWHUVRQ\RXU
Q
HWZRUNZLOOQRWEHDEOHWRDFFHVVWKH,QWHUQHW
2
WKHUSUREOHPVPD
\
DOVRRFFXU7XUQLQ
J
R
II
1$7ZLOOQRWD
II
HFW\RXU
I
LUHZDOO
I
XQFWLRQV
8VLQJWKH:HE%DVHG$GYDQFHG8VHU,QWHUIDFH

(QDEOLQJ'LVDEOLQJ83Q3
8
3Q38QLYHUVDO3OXJDQG3OD\LV\HWDQRWKHUDGYDQFHGIHDWXUH
RIIHUHGE\\RXU%HONLQ5RXWHU,WLVDWHFKQRORJ\WKDWRIIHUVVHDPOHVV
RSHUDWLRQR
I
YRLFHPHVVDJLQJYLGHRPHVVDJLQJJDPHVDQGRWKHU
D
SS
OLFDWLRQVWKDWDUH83Q3FRP
S
OLDQW
6
RPHD
SS
OLFDWLRQVUH
T
XLUHWKH
5RXWHUőV
I
LUHZDOOWREHFRQ
I
L
J
XUHGLQDVSHFL
I
LFZD\WRRSHUDWHSURSHUO\
7
KLVXVXDOO\UHTXLUHVRSHQLQ
J
7
&
3DQG8'3SRUWVDQGLQVRPH
LQVWDQFHVVHWWLQ
J
WUL
JJ
HUSRUWV$QDSSOLFDWLRQWKDWLV83Q3FRPSOLDQW
K
DVWKHDELOLW\WRFRPPXQLFDWHZLWKWKH5RXWHUEDVLFDOO\œWHOOLQJŔWKH
5RXWHUZKLFKZD\LWQHHGVWKHILUHZDOOFRQILJXUHG7KH5RXWHUVKLSV
ZLWKWKH83Q3IHDWXUHGLVDEOHG,I\RXDUHXVLQJDQ\DSSOLFDWLRQVWKDW
DUH83Q3FRPSOLDQWDQGZLVKWRWDNHDGYDQWDJHRIWKH83Q3IHDWXUHV
\
RXFDQHQDEOHWKH83Q3IHDWXUH
6
LPSO
\
VHOHFWœ(QDEOHŔLQWKHœ83Q3
(QDEOLQ
J
ŔVHFWLRQRIWKHœ8WLOLWLHVŔSD
J
H
&
OLFNœ$SSO\
&
KDQ
J
HVŔWR
V
DYHW
K
HF
K
DQ
J
H
(QDEOLQJ
'LVDEOLQJ$XWR)LUPZDUH8SGDWH
7
KLVLQQRYDWLRQSURYLGHVWKH5RXWHUZLWKWKHEXLOWLQFDSDELOLW\WR
DXWRPDWLFDOO
\
FKHFNIRUDQHZYHUVLRQRIILUPZDUHDQGDOHUW
\
RX
W
KDWWKHQHZILUPZDUHLVDYDLODEOH:KHQ\RXORJLQWRWKH5RXWHUőV
DGYDQFHGLQWHUIDFHWKH5RXWHUZLOO
S
HUIRUPDFKHFNWRVHHLIQHZ
I
LUPZDUHLVDYDLODEOH,
I
VR
\
RXZLOOEHQRWL
I
LHG<RXFDQFKRRVHWR
G
RZQ
O
RD
G
W
K
HQHZYHUV
L
RQRU
LJ
QRUH
L
W

0DQXDOO\
&
RQILJXULQJ1HWZRUN
6
HWWLQJV
VHF
W
LRQ
6
HWXSWKHFRPSXWHUWKDWLVFRQQHFWHGWRWKHFDEOHRU'
6
/PRGHP
),567XVLQ
J
WKHVHVWHSV<RXFDQDOVRXVHWKHVHVWHSVWRDGG
FRPSXWHUVWR\RXU5RXWHUDIWHUWKH5RXWHUKDVEHHQVHWXSWRFRQQHFW
W
RWKH,QWHUQHW
0DQXDOO\&RQIL
J
XULQ
J
1HWZRUN6HWWLQ
J
VLQ0DF26XSWR[

3XOOGRZQWKH$
SS
OHPHQX6HOHFWœ&RQWURO3DQHOVŔDQG
V
HOHFWœ7
&
3
,3Ŕ

 <RXZLOOVHHWKH7
&
3
,3FRQWURO
S
DQHO
6
HOHFWœ(WKHUQHW%XLOW,QŔ
RUœ(WKHUQHWŔLQWKHœ
&
RQQHFWYLDŔGUR
S
GRZQPHQX

 1H[WWRœ&RQILJXUHŔ
L
I
œ0DQXDOO
\
ŔLV
V
H
O
HFWH
G

\
RXU
5
RXWHU
Z
LOO
Q
HHG
W
R
EH
VH
W
X
S
I
RUDVWDWLF,3
FRQQHFWLRQW\SH:ULWH
W
KHDGGUHVVLQIRUPDWLRQ
LQWKHWDEOHEHORZ
<
RXZLOOQHHGWRHQWHU
W
KLVLQIRUPDWLRQLQW
R
WKH
5RX
W
H
U

,IQRWDOUHDG\VHWDWœ&RQIL
J
XUHŔFKRRVHœ8VLQ
J
'+&36HUYHUŔ
7
KLVZLOOWHOOWKH FRP
S
XWHUWRREWDLQDQ,3DGGUHVVIURPWKH5RXWHU

&
ORVHWKHZLQGRZ
,I
\
RXPDGHDQ
\
FKDQ
J
HVWKH
I
ROORZLQ
J
Z
L
Q
G
RZZ
LOO
D
SS
HDU
&
OLFNœ
6
DYHŔ
5
HVWDUWW
K
HFRP
S
XWHU
:K
HQW
K
HFRP
S
XWHUUHVWDUWV
\
RXUQHWZRU
N
V
HWWLQJVDUHQRZFRQILJXUHGIRUXVHZLWKWKH5RXWHU
0DQXDOO\&RQILJXULQJ1HWZRUN6HWWLQJV
0DQXDOO\&RQ
I
LJXULQJ1HWZRUN$GDSWHUVLQ0DF26;

&OLFNRQWKHœ6
\
VWHP3UHIHUHQFHVŔLFRQ

6
HOHFWœ1HWZRUNŔ
IURPWKHœ
6\
VWHP3UHIHUHQFHVŔPHQX

6
HOHFWœ%XLOWLQ(WKHUQHWŔ
QH[WWRœ
6
KRZŔLQWK
H
1H
WZ
R
U
N
P
H
Q
X

0DQXDOO\&RQILJXULQJ1HWZRUN6HWWLQJV
VHFWLRQ

6
HOHFWWKHœ7
&
3
,3ŔWDE
1H[WWRœ&RQILJXUHŔ
\RXVKRXOG
V
HHœ0DQXDOO\ŔRUœ8VLQJ'+&3Ŕ,I\RXGRQRWFKHFNWKH
333
R
(
WD
E
WRPDNHVXUHWKDWœ&RQQHFWXVLQJ333R(ŔLV127
V
HOHFWHG,
I
LWLV\RXZLOOQHHGWRFRQ
I
LJXUH\RXU5RXWHU
I
RUD
333
R
(
FRQQHFW
L
RQW\SHXV
L
Q
J
\RXUXVHUQDPHDQ
G
SDVVZRU
G

,
I
œ0DQXDOO\ŔLVVHOHFWHG\RXU5RXWHUZLOOQHHGWREHVHWX
S
I
RUDVWDWLF,3FRQQHFWLRQW\SH:ULWHWKHDGGUHVVLQ
I
RUPDWLR
Q
LQWK
H
W
DE
O
H
EH
O
R
Z<
RX
ZLOOQ
HHG
W
R
H
QW
H
UWKL
V
LQ
IR
UP
D
WL
R
QLQW
R
W
KH5RXWHU

,IQRWDOUHDG\VHOHFWHGVHOHFWœ8VLQJ'+&3ŔQH[WWRœ&RQILJXUHŔ
W
K
HQF
OL
F
N
œ$
SS
O\
1
RZ
Ŕ
<
RXUQHWZRU
N
VHWW
L
QJVDUHQRZFRQ
IL
JXUH
G
I
RUXVHZ
L
W
K
W
K
H
5
RXWHU
0DQXDOO\&RQILJXULQJ1HWZRUN6HWWLQJV
0DQXDOO\ &RQ
I
LJXULQJ 1HWZRUN 6HWWLQJV LQ :LQGRZV  17 RU
;3

&OLFNœ6WDUWŔœ6HWWLQJVŔWKHQœ&RQWURO3DQHOŔ

'
RX
EO
HF
OL
F
N
RQW
K
H
œ1
HWZRU
N
DQ
G
GL
D
O
X
S
FRQQHFW
L
RQV
Ŕ
L
FRQ
:LQGRZV
RUWKHœ1HWZRUNŔLFRQ
:LQGRZV;3


5L
J
KWFOLFNRQWKHœ/RFDO$UHD
&
RQQHFWLRQŔDVVRFLDWHGZLW
K
\RXUQHWZRUNDGDSWHUDQGVHOHFWœ3URSHUWLHVŔ
I
URPWK
H
G
URS
G
RZQPHQX

,QWKHœ/RFDO$UHD
&
RQQHFWLRQ3URSHUWLHVŔZLQGRZFOLFNœ,QWHUQHW
3URWRFRO7&3,3ŔDQGFOLFNWKHœ3URSHUWLHVŔEXWWRQ7KH
I
ROORZLQJVFUHHQZLOODSSHDU

,Iœ8VHWKHIROORZLQJ,3DGGUHVVŔ
LVVHOHFWHG\RXU5RXWHU
ZLOOQHHGWREHVHWXSIRUDVWDWLF,3FRQQHFWLRQW
\
SH:ULWHWKH
DGGUHVVLQIRUPDWLRQWKHWDEOHEHORZ<RXZLOOQHHGWRHQWHUWKLV
LQIRUPDWLRQLQWRWKH5RXWHU

,IQRWDOUHDG
\
VHOHFWHGVHOHFWœ2EWDLQDQ,3DGGUHVV
DXWRPDW
L
FD
OO\Ŕ
DQGœ
2
EWDLQ'1
6
VHUYHUDGGUHVVDXWRPDWLFDOO
\
Ŕ
&
OLFNœ
2
<
RXUQHWZRU
N
VHWW
L
QJVDUHQRZFRQ
IL
JXUH
G
I
RUXVHZ
L
W
K
W
K
H
5
RXWHU
0DQXDOO\&RQILJXULQJ1HWZRUN6HWWLQJV
VHFWLRQ
0DQXDOO\&RQ
I
LJXULQJ1HWZRUN$GDSWHUVLQ:LQGRZV6(RU0H

 5LJKWFOLFNRQœ0\1HWZRUN1HLJKERUKRRGŔDQGVHOHFW
œ
3UR
S
HUWLHVŔIURPWKHGUR
S
GRZQPHQX

6
HOHFWœ7
&
3
,3
6
HWWLQJVŔIRU\RXULQVWDOOHGQHWZRUNDGDSWHU<RX
ZLOOVHHWKH
I
ROORZLQ
J
ZLQGRZ

 ,Iœ
6
SHFLI\DQ,3DGGUHVVŔLVVHOHFWHG\RXU5RXWHUZLOOQHHGWR
E
HVHWXS
I
RUDVWDWLF,3FRQQHFWLRQW\SH:ULWHWKHDGGUHVV
LQI
R
UP
D
WL
R
QLQWK
H
W
DE
O
H
EH
O
R
Z<
RX
ZLOOQ
HHG
W
R
H
QW
H
UWKL
V
LQIRUPDWLRQLQWRWKH5RXWHU

 :ULWHWKH,3DGGUHVVDQGVXEQHWPDVNIURPWKHœ,3$GGUHVVŔ
WD
E

&
OLFNWKHœ
*
DWHZD
\
ŔWD
E
:
U
L
WHW
K
HJDWHZD\D
GG
UHVV
G
RZQ
L
Q
W
KH
FKD
UW

&
OLFNWKHœ'1
6
&
RQIL
J
XUDWLRQŔWDE
:ULWHWKH'1
6
DGGUHVV
HV
L
QW
KH
FKD
UW

 ,IQRWDOUHDG\VHOHFWHG
V
HOHFWœ
2
EWDLQ,3
DGGUHVVDXWRPDWLFDOO
\
Ŕ
RQW
K
H
,3
D
GG
UHVVWD
E
&
OLFNœ
2
.Ŕ
5HVWDUWWKHFRPSXWHU:KHQWKHFRPSXWHUUHVWDUWV\RXUQHWZRUN
DGDSWHUVDUHQRZFRQIL
J
XUHGIRUXVHZLWKWKH5RXWHU

5HFRPPHQGHG:HE%URZVHU
6
HWWLQJ
V
,
QPRVWFDVHV\RXZ
LOO
QRWQHH
G
WRPD
N
HDQ\F
K
DQ
J
HVWR\RXUZH
E
E
URZVHUőVVHWWLQ
J
V,I\RXDUHKDYLQ
J
WURXEOHDFFHVVLQ
J
WKH,QWHUQHWRU
W
KHDGYDQFHGZHEEDVHGXVHULQWHUIDFHWKHQFKDQJH\RXUEURZVHUőV
V
HWWLQJVWRWKHUHFRPPHQGHGVHWWLQJVLQWKLVVHFWLRQ
0L
F
U
RVR
IW
p
,QWHUQHW([SORUHURU+L
J
KHU

6WDUW
\
RXUZHEEURZVHU6HOHFWœ7RROVŔWKHQœ,QWHUQHW2SWLRQVŔ

,QWKHœ,QWHUQHW2
S
WLRQVŔVFUHHQWKHUHDUHWKUHHVHOHFWLRQV
œ1
HYHU
GL
D
O
DFRQQHFW
L
RQ
Ŕ

œ'L
D
O
Z
K
HQHYHUDQHWZRU
N
FRQQHFW
L
RQ
LVQRWSUHVHQWŔDQGœ$OZD
\
VGLDOP
\
GH
I
DXOWFRQQHFWLRQŔ,
I
\
RX
FDQPDNHDVHOHFWLRQVHOHFWœ1HYHUGLDODFRQQHFWLRQŔ,
I
\
RX
FDQQRWPD
N
HDVH
O
HFW
L
RQ
J
RWRW
K
HQH[WVWHS

8QGHUWKHœ,QWHUQHW2
S
WLRQVŔVFUHHQFOLFNRQœ&RQQHFWLRQVŔDQG
V
HOHFWœ/$1
6
HWWLQ
J
VřŔ

5HFRPPHQGHG:HE%URZVHU
6
HWWLQJ
V
VHF
W
LR
Q


 0DNHVXUHWKHUHDUHQRFKHFNPDUNVQH[WWRDQ
\
RIWKHGLVSOD
\
HG
RSWLRQVœ$XWRPDWLFDOO\GHWHFWVHWWLQJVŔœ8VHDXWRPDWLF
FRQILJXUDWLRQVFULSWŔDQGœ8VHDSUR[\VHUYHUŔ&OLFNœ2.Ŕ7KHQ
FOLFNœ
2
.ŔDJDLQLQWKHœ,QWHUQHW
2
SWLRQVŔSDJH
1HWVFD
S
H
p
1DYL
J
DWRU
p
RU+L
J
KH
U

6
WDUW1HWVFD
S
H
&
OLFNRQœ(GLWŔWKHQœ3UHIHUHQFHVŔ

 ,QWKHœ3UH
I
HUHQFHVŔZLQGRZ
FOLFNRQœ$GYDQFHGŔWKHQVHOHFW
œ3
UR[
L
HV
Ŕ

,
QW
K
H
œ3
UR[
L
HV
Ŕ
Z
L
Q
G
RZ
VH
O
HFW
œ'L
UHFWFRQQHFW
L
RQ
WR
W
KH
,
QW
H
UQ
H
W
Ŕ

7URXEOHVKRRW
L
Q
J
6
HWXS$VVLVWDQW
&
'GRHVQRWDXWRPDWLFDOO\VWDUW
,
IWKH&'520GRHVQRWVWDUWWKH6HWXS$VVLVWDQWDXWRPDWLFDOO
\
LW
FRX
OG
E
HW
K
DWW
K
HFRPSXWHU
L
VUXQQ
L
QJRW
K
HUDSS
OL
FDW
L
RQVW
K
DWDUH
LQWHUIHULQJZLWKWKH
&
'GULYH

 ,IWKH
6
HWX
S
$VVLVWDQW:HOFRPHVFUHHQGRHVQRWD
SS
HDUZLWKLQ
VHFRQGVRSHQXS\RXU
&
'5
2
0GULYHE\GRXEOHFOLFNLQ
J
RQWKHœ0\
&
RPSXWHUŔLFRQWKDWLVORFDWHGRQ\RXUGHVNWRS

 1H[WGRXEOHFOLFNRQWKH
&
'5
2
0GULYHWKDWWKH
6
HWXS$VVLVWDQW
&
'KDVEHHQSODFHGLQWRVWDUWWKHLQVWDOODWLRQ

 7KH
6
HWXS$VVLVWDQWVKRXOGVWDUWZLWKLQDIHZVHFRQGV,I
LQVWHDGDZLQGRZDSSHDUVVKRZLQ
J
WKHILOHVRQWKH
&
'
GRXEOHFOLFNRQWKHLFRQODEHOHGœ6HWXS$VVLVWDQWŔ

,IWKH6HWXS$VVLVWDQWVWLOOGRHVQRWVWDUWUHIHUHQFHWKHVHFWLRQ
W
LWOHGœ0DQXDOO\&RQILJXULQJ1HWZRUN6HWWLQJVŔSDJHRIWKLV
8
VHU0DQXDOIRUDQDOWHUQDWLYHVHWX
S
PHWKRG

6HWX
S
$VVLVWDQWFDQQRWILQGP
\
5RXWHU
,
IWKH
6
HWXS$VVLVWDQWLVQRWDEOHWRILQGWKH5RXWHUGXULQJWKH
LQVWDOODWLRQSURFHVVSOHDVHFKHFNWKH
I
ROORZLQ
J
LWHPV

 ,IWKH
6
HWXS$VVLVWDQWLVQRWDEOHWRILQGWKH5RXWHUGXULQ
J
WKH
LQVWDOODWLRQSURFHVVWKHUHPD
\
EHWKLUGSDUW
\
I
LUHZDOOVR
I
WZDUH
L
QVWD
OO
H
G
RQW
K
HFRPSXWHUDWWHPSW
L
Q
J
WRDFFHVVW
K
H
,
QWHUQHW
([DPSOHVR
I
WKLUGSDUW\
I
LUHZDOOVR
I
WZDUHDUH=RQH$ODUP
%ODFN,&(3&3URWHFWLRQ
0F$IHH3HUVRQDO)LUHZDOO
DQG1RUWRQ
3HUVRQDO)LUHZDOO,I\RXGRKDYHILUHZDOOVRIWZDUHLQVWDOOHGRQ
\RXUFRPSXWHUSOHDVHPDNHVXUHWKDW\RXSURSHUO\FRQILJXUHLW
<
RXFDQGHWHUPLQHLIWKHILUHZDOOVRIWZDUHLVSUHYHQWLQJ,QWHUQHW
DFFHVVE\WHPSRUDULO\WXUQLQJLWR
II
,
I
ZKLOHWKH
I
LUHZDOOLV
GL
VD
EO
H
G

,
QWHUQHWDFFHVVZRU
N
VSURSHU
O
\\RXZ
LOO
QHH
G
WRF
K
DQ
J
H
W
KH
I
LUHZDOOVHWWLQ
J
VWR
I
XQFWLRQSURSHUO\ZKHQLWLVWXUQHGRQ
3OHDVHUH
I
HUWRWKHLQVWUXFWLRQVSURYLGHGE\WKHSXEOLVKHUR
I
\RXU
I
LUHZDOOVR
I
WZDUH
I
RULQVWUXFWLRQVRQFRQ
I
L
J
XULQ
J
WKH
I
LUHZDOOWR
D
OO
R
Z,QW
H
UQ
H
W
DFFHVV

7URXEOHVKRRW
L
Q
J
VHF
W
LR
Q

8QSOXJSRZHUWRWKH5RXWHUIRUVHFRQGVDQGWKHQSOXJWKH
S
RZHUEDFNLQWRWKH5RXWHU(QVXUHWKDWWKH5RXWHUőVœURXWHU
Ŕ
/('LVRQLWVKRXOGEHVROLG%/8(,IQRWFKHFNWRPDNHVXUH
W
KDWWKH$
&
DGDSWHULVFRQQHFWHGWRWKH5RXWHUDQGSOXJJHGLQWR
D
Z
DOO
RX
W
OH
W

(
QVXUHW
K
DW
\
RX
K
DYHDFD
EO
HFRQQHFWH
G
E
HWZHHQW
K
HQHWZRU
N
(WKHUQHW
SRUWRQWKHEDFNRIWKHFRPSXWHUDQGRQHRIWKHœWR
:
LUHG
&
RPSXWHUVŔSRUWVRQWKHEDFNRIWKH5RXWHU
1R
W
H
7KHFRPSXWHUVKRXOG1
2
7EHFRQQHFWHGWRWKHSRUWODEHOHG
œ
WR0RGHPŔRQWKHEDFNRIWKH5RXWHU

 7U\VKXWWLQJGRZQDQGUHVWDUWLQJ\RXUFRPSXWHUWKHQUHUXQQLQJ
W
KH6HWXS$VVLVWDQW
,
IWKH6HWX
S
$VVLVWDQWLVVWLOOXQDEOHWRILQGWKH5RXWHUUHIHUHQF
H
W
KHVHFWLRQWLWOHGœ0DQXDOO\&RQILJXULQJ1HWZRUN6HWWLQJVŔIRU
L
QVWD
OO
DW
L
RQVWH
S
V
6HWX
S
$VVLVWDQWFDQQRWFRQQHFWP
\
5RXWHUWRWKH,QWHUQHW
,
IWKH
6
HWXS$VVLVWDQWLVQRWDEOHWRFRQQHFWWKH5RXWHUWRWKH
,
QWHUQHWSOHDVHFKHFNWKH
I
ROORZLQ
J
LWHPV
 8VHWKHWURXEOHVKRRWLQ
J
VX
JJ
HVWLRQVZLWKLQWKH
6
HWXS$VVLVWDQW

 ,I\RXU,
6
3UHTXLUHVDXVHUQDPHDQGSDVVZRUGPDNHVXU
H
W
KDW\RXKDYHW\SHGLQ\RXUXVHUQDPHDQGSDVVZRUGFRUUHFWO\
6
RPHXVHUQDPHVUHTXLUHWKDWWKH,63őVGRPDLQPD\EHDWWKH
HQGRIWKHQDPH([DPSOHœP\QDPH#P\LVSFRPŔ7KHœ#P\LVS
FRPŔSDUWRIWKHXVHUQDPHPD
\
QHHGWREHW
\
SHGDVZHOODV
\
RXU
XVHU
QDPH
,I
\
RXFRQWLQXHWRKDYHQR,QWHUQHWFRQQHFWLRQUH
I
HUHQFHWKHVHFWLRQ
W
LWOHGœ0DQXDOO\
&
RQIL
J
XULQ
J
1HWZRUN
6
HWWLQ
J
VŔ
SD
J
HRIWKLV8VHU
0DQXDOIRUDQDOWHUQDWLYHVHWXSPHWKRG


7URXEOHVKRRWLQJ
Ř 7KH6HWXS$VVLVWDQWFRPSOHWHGLQVWDOODWLRQEXWP\ZHE
E
U
R
Z
VH
U
GRHV
QÝWZ
R
UN
Ř
,DP
X
QD
E
O
H
W
R
FR
QQ
HF
WW
R
WK
H
,QW
H
UQ
H
W7K
H
ßP
RGH
Pà/('
R
Q
P\5RXWHULVRIIDQGWKHßLQWHUQHWà/('LVEOLQNLQ
J
,I
\
RXFDQQRWFRQQHFWWRWKH,QWHUQHWDQGWKHœPRGHPŔ/('LVR
II
DQ
G
W
K
H
œL
QWHUQHW
Ŕ
/('
L
V
EOL
Q
NL
Q
J
W
K
HSUR
EO
HPPD\
E
HW
K
DW\RXU
P
RGHPDQG5RXWHUDUHQRWFRQQHFWHGSURSHUO\

0DNH
VX
U
H
W
KH
Q
H
WZ
R
U
N
FDEOH
EH
WZ
HH
QW
KH
P
RGH
P
D
Q
G
W
KH
5RX
W
H
U
L
V
FR
QQ
HF
W
HG
7K
H
FDE
O
H
V
K
RX
O
G
EH
FR
QQ
HF
W
HG
D
W
R
Q
H
H
Q
G
W
R
WK
H
5RXWHUőVœWR0RGHPŔSRUWDQGDWWKHRWKHUHQGWRWKHQHWZRUN
S
RUWRQ\RXUPRGHP

 8QSOXJWKHFDEOHRU'6/PRGHPIURPLWVSRZHUVRXUFHIR
U
W
KUHHPLQXWHV$IWHUWKUHHPLQXWHVSOXJWKHPRGHPEDFNLQWRLWV
S
RZHUVRXUFH7KLVPD\IRUFHWKHPRGHPWRSURSHUO\UHFRJQL]H
WK
H
5
RXWHU

8
QS
O
XJW
K
HSRZHUWR\RXU
5
RXWHUZD
L
WVHFRQ
G
VDQ
G
W
K
HQ
UHFRQQHFWW
K
H
S
RZHU
7KL
VZ
LOO
FDXVHW
K
H
5
RXWHUWRUHDWWHP
S
W
FR
PP
X
QL
FD
WL
R
QZLWKWK
H
P
RGH
P,
I
WK
H
œP
RGH
PŔ/('
R
QWK
H
5RXWHULVQRWOLWD
I
WHUFRPSOHWLQ
J
WKHVHVWHSVSOHDVHFRQWDFW
%HONLQ7HFKQLFDO
6
XSSRUW

 7U\VKXWWLQ
J
GRZQDQGUHVWDUWLQ
J
\RXUFRPSXWHU

7URXEOHVKRRWLQJ
VHFWLRQ

Ř 7KH6HWXS$VVLVWDQWFRPSOHWHGLQVWDOODWLRQEXWP\ZHE
E
U
R
Z
VH
U
GRHV
QÝWZ
R
UN
Ř
,DP
X
QD
E
O
H
W
R
FR
QQ
HF
WW
R
WK
H
,QW
H
UQ
H
W7K
H
ßP
RGH
Pà/('
R
Q
P\5RXWHULVRQDQGWKHßLQWHUQHWà/('LVEOLQNLQ
J

,
I
\
RXFDQQRWFRQQHFWWRWKH,QWHUQHWWKHœPRGHPŔ/('LVRQ
DQ
G
W
K
H
œL
QWHUQHW
Ŕ
/('
L
V
EOL
Q
NL
Q
J
W
K
HSUR
EO
HPPD\
E
HW
K
DW\RXU
FRQQHFWLRQW\SHPD\QRWPDWFKWKH,
6
VFRQQHFWLRQ

 ,I\RXKDYHDœVWDWLF,3DGGUHVVŔFRQQHFWLRQ\RXU,
6
3PXVW
DVV
LJ
Q\RXW
K
H
,3
D
GG
UHVVVX
E
QHWPDV
N
DQ
G
J
DWHZD\D
GG
UHVV
3OHDVHUHIHUWRWKHVHFWLRQHQWLWOHGœ$OWHUQDWH
6
HWXS0HWKRGŔIRU
GHWDLOVRQFKDQJLQJWKLVVHWWLQJ

 ,I\RXKDYHDœ333R(ŔFRQQHFWLRQ\RXU,63ZLOODVVLJQ\RXD
X
VHUQDPHDQGSDVVZRUGDQGVRPHWLPHVDVHUYLFHQDPH0DNH
V
XUHWKH5RXWHUőVFRQQHFWLRQW\SHLVFRQILJXUHGWR333R(DQGWKH
V
HWWLQJVDUHHQWHUHGSURSHUO\3OHDVHUHIHUWRWKHVHFWLRQHQWLWOHG
œ
$OWHUQDWH
6
HWXS0HWKRGŔIRUGHWDLOVRQFKDQJLQJWKLVVHWWLQJ

 <RXPD\QHHGWRFRQ
I
LJXUH\RXU5RXWHUWRPHHWWKHVSHFL
I
LF
UHTXLUHPHQWVRI\RXU,
6
37RVHDUFKRXUNQRZOHG
J
HEDVHIR
U
,6
3VSHFLILFLVVXHV
J
RWRKWWS

ZHEEHONLQFRP
VXSSRUWDQG
W
\SHLQœ,
6
,I
\RXDUHVWLOOXQDEOHWRDFFHVVWKH,QWHUQHWD
I
WHUYHUL
I
\LQ
J
WKHVH
V
HWWLQJVSOHDVHFRQWDFW%HONLQ7HFKQLFDO6XSSRUW

7URXEOHVKRRWLQJ
Ř 7KH6HWXS$VVLVWDQWFRPSOHWHGEXWP\ZHEEURZVHU
GRHV
QÝWZ
R
UN
Ř
,DP
X
QD
E
O
H
W
R
FR
QQ
HF
WW
R
WK
H
,QW
H
UQ
H
W7K
H
ßP
RGH
Pà/('
R
Q
P\5RXWHULVEOLQNLQ
J
DQGWKHßLQWHUQHWà/('LVVROLG

,
I
WKHœPRGHPŔ/('LVEOLQNLQJDQGWKHœLQWHUQHWŔ/('LVVROLG
E
XW
\
RXDUHXQD
EO
HWRDFFHVVW
K
H
,
QWHUQHWW
K
HUHPD
\
E
HW
KL
U
G
S
DUW\
I
LUHZDOOVR
I
WZDUHLQVWDOOHGRQWKHFRPSXWHUDWWHPSWLQ
J
WR
DFFHVVWKH,QWHUQHW([DPSOHVR
I
WKLUGSDUW\
I
LUHZDOOVR
I
WZDUHDUH
=
RQH$ODUP
%ODFN,
&
(3
&
3URWHFWLRQ
0F$IHH3HUVRQDO)LUHZDOO
DQG1RUWRQ3HUVRQDO)LUHZDOO

 ,I\RXGRKDYHILUHZDOOVRIWZDUHLQVWDOOHGRQ\RXUFRPSXWHU
S
OHDVHPDNHVXUHWKDW\RXSURSHUO\FRQILJXUHLW<RXFDQ
GHWHUPLQHLIWKHILUHZDOOVRIWZDUHLVSUHYHQWLQJ,QWHUQHWDFFHVVE\
W
HPSRUDULO\WXUQLQJLWRII,IZKLOHWKHILUHZDOOLVGLVDEOHG,QWHUQHW
DFFHVVZRUNVSURSHUO\\RXZLOOQHHGWRFKDQJHWKH
I
LUHZDOO
V
HWWLQ
J
VWR
I
XQFWLRQSURSHUO\ZKHQLWLVWXUQHGRQ

 3OHDVHUH
I
HUWRWKHLQVWUXFWLRQVSURYLGHGE
\
WKHSXEOLVKHUR
I
\
RXU
I
LUHZDOOVR
I
WZDUH
I
RULQVWUXFWLRQVRQFRQ
I
L
J
XULQ
J
WKH
I
LUHZDOOWR
DOOR
Z
,
QW
H
UQ
H
W
DFFHVV
,I
\RXDUHVWLOOXQDEOHWRDFFHVVWKH,QWHUQHWD
I
WHUGLVDEOLQ
J
DQ\
I
LUHZDOO
V
RIWZDUHSOHDVHFRQWDFW%HONLQ7HFKQLFDO6XSSRUW
7URXEOHVKRRWLQJ
VHFWLRQ

,FDQÝWFRQQHFWWRWKH,QWHUQHWZ
L
UHOHVVO\
,
I
\
RXDUHXQDEOHWRFRQQHFWWRWKH,QWHUQHWIURPDZLUHOHVVFRPSXWHU
S
OHDVHFKHFNWKHIROORZLQJLWHPV

 /RRNDWWKHOLJKWVRQ\RXU5RXWHU,I\RXőUHXVLQJD%HONLQ5RXWHU
W
KHOLJKWVVKRXOGEHDV
I
ROORZV
Ř
7KH
œ
U
RX
W
H
U
Ŕ
/('
VKRXOG
EH
R
Q
Ř
7K
H
œ
PR
G
HP
Ŕ
OLJK
WV
K
RX
OG
E
HRQDQ
G
QRW
EOL
Q
NL
Q
J
Ř
7K
H
œL
QWHUQHW
Ŕ
/('
V
K
RX
OG
E
HRQDQ
G
QRW
EOL
Q
NL
Q
J
 Ř7KHœ:LUHOHVVŔOL
J
KWVKRXOGEHRQQRWEOLQNLQ
J
2
SHQ\RXUZLUHOHVVXWLOLW\VRIWZDUHE\FOLFNLQ
J
RQWKHLFRQLQWKH
V
\VWHPWUD\DWWKHERWWRPULJKWKDQGFRUQHURIWKHVFUHHQ
 7KHH[DFWZLQGRZWKDWRSHQVZLOOYDU\GHSHQGLQJRQWKHPRGHORI
ZLUHOHVVFDUG\RXKDYHKRZHYHUDQ\RIWKHXWLOLWLHVVKRXOGKDYH
DOLVWRIœ$YDLODEOH1HWZRUNVŔŏWKRVHZLUHOHVVQHWZRUNVLWFDQ
FRQQHF
W
W
R
'RHVWKHQDPHRI
\
RXUZLUHOHVVQHWZRUNDSSHDULQWKHUHVXOWV
"
<
HVP\QHWZRU
N
QDPH
L
V
OL
VWH
G
ŏ
J
RWRW
K
HWURX
EO
HV
K
RRW
L
Q
J
VR
O
XW
L
RQ
WL
W
O
H
G
œ,
FDQ
ő
WFRQQHFWWRW
K
H
,
QWHUQHWZ
L
UH
O
HVV
O
\
E
XWP\QHWZRU
N
QDPH
LV
OLV
W
HGŔ
1RP\QHWZRUNQDPHLVQRWOLVWHGŏ
J
RWRWKHWURXEOHVKRRWLQ
J
VROXWLRQ
W
LWOHGœ,FDQőWFRQQHFWWRWKH,QWHUQHWZLUHOHVVO\DQGP\QHWZRUNQDPH
LVQRWOLVWHGŔ

7URXEOHVKRRWLQJ
,FDQÝWFRQQHFWWRWKH,QWHUQHWZ
L
UHOHVVO\EXWP\QHWZRUNQDPH
LV
OL
V
W
HG
,
IWKHQDPHRI
\
RXUQHWZRUNLVOLVWHGLQWKHœ$YDLODEOH1HWZRUNVŔOLVW
S
OHDVH
I
ROORZWKHVWHSVEHORZWRFRQQHFWZLUHOHVVO
\

&
OLFNRQWKHFRUUHFWQHWZRUNQDPHLQWKHœ$YDLODEO
H
1H
WZ
R
U
NVŔ
OLV
W

 ,IWKHQHWZRUNKDVVHFXULW
\
HQFU
\
SWLRQ
HQDEOHG
\
RXZLO
O
Q
HHGWRHQWHUWKHQHWZRUNNH\)RUPRUHLQ
I
RUPDWLRQUH
J
DUGLQ
J
V
HFXULW\VHHWKHVHFWLRQHQWLWOHGœ
&
KDQ
J
LQ
J
WKH:LUHOHV
V
6
HFXULW\
6
HWWLQ
J
 :LWKLQDIHZVHFRQGVWKHWUD\LFRQLQWKHORZHUOHIWKDQGFRUQHU
RI\RXUVFUHHQVKRXOGWXUQJUHHQLQGLFDWLRQRIDVXFFHVVIXO
FRQQHFWLRQWRWKHQHWZRUN
,FDQÝWFRQQHFWWRWKH,QWHUQHWZLUHOHVVO
\
DQGP
\
QHWZRUNQDPH
LV
Q
R
WOL
V
W
HG
,I
WK
H
FR
UU
HF
WQ
H
WZ
R
UNQ
D
P
H
L
V
Q
R
WOL
V
W
HG
X
Q
GH
Uœ$Y
D
LO
DE
O
H
1
H
WZ
R
UN
V
ŔLQ
W
KHZLUHOHVVXWLOLW\SOHDVHDWWHPSWWKH
I
ROORZLQ
J
WURXEOHVKRRWLQ
J
VWHSV
 7HPSRUDULO\PRYHFRPSXWHUL
I
SRVVLEOH
I
LYHWR
I
HHW
I
URPWKH
5RXWHU
&
ORVHWKHZLUHOHVVXWLOLW\DQGUHRSHQLW,IWKHFRUUHFW
Q
HWZRUNQDPHQRZDSSHDUVXQGHUœ$YDLODEOH1HWZRUNVŔ\RXPD\
K
DYHDUDQJHRULQWHUIHUHQFHSUREOHP3OHDVHVHHWKHVXJJHVWLRQV
GLVFXVVHGLQWKHVHFWLRQWLWOHGœ3ODFHPHQWRI\RXU1:LUHOHVV
5RXWHUŔRIWKLV
8
VHU0DQXDO

 8VLQJDFRPSXWHUWKDWLVFRQQHFWHGWRWKH5RXWHUYLDDQHWZRUN
FDEOHDVRSSRVHGWRZLUHOHVVO
\
HQVXUHWKDWœ%URDGFDVW66,'ŔLV
HQDEOHG7KLVVHWWLQJLVIRXQGRQWKH5RXWHUőVZLUHOHVVœ
&
KDQQHO
DQG
66
,'ŔFRQIL
J
XUDWLRQSD
J
H
,I
\RXDUHVWLOOXQDEOHWRDFFHVVWKH,QWHUQHWD
I
WHUFRPSOHWLQ
J
WKHVH
V
WHSVSOHDVHFRQWDFW%HONLQ7HFKQLFDO
6
XSSRUW

7URXEOHVKRRWLQJ
VHFWLRQ

ä 0\ZLUHOHVVQHWZRUNSHU
I
RUPDQFHLVLQFRQVLVWHQW
ä 'DWDWUDQ
V
I
H
UL
V
VR
P
H
WLP
HV
V
O
R
Z
ä 6L
J
QDOVWUHQ
J
WKLVSRRU
ä 'LIILFXOW\HVWDEOLVKLQ
J
DQGRUPDLQWDLQLQ
J
D9LUWXDO3ULYDWH
1HWZRUN
931
FRQQHFWLRQ
:L
UH
O
HVVWHF
K
QR
O
R
J
\
L
VUD
GL
R
E
DVH
G
Z
KL
F
K
PHDQVFRQQHFW
L
Y
L
W
\
DQGWKHWKURX
J
KSXWSHU
I
RUPDQFHEHWZHHQGHYLFHVGHFUHDVH
V
ZKHQWKHGLVWDQFHEHWZHHQGHYLFHVLQFUHDVHV2WKHUIDFWRUVWKD
W
ZLOOFDXVHVLJQDOGHJUDGDWLRQPHWDOLVJHQHUDOO\WKHZRUVWFXOSULW
DUHREVWUXFWLRQVVXFKDVZDOOVDQGPHWDOD
SS
OLDQFHV1RWHDOV
R
W
KDWFRQQHFWLRQVSHHGPD
\
GHFUHDVHDV
\
RXPRYHIDUWKHUDZD
\
IURP
WK
H
5
RXWHU
,
QRUGHUWRGHWHUPLQHL
I
ZLUHOHVVLVVXHVDUHUHODWHGWRUDQ
J
HZH
V
X
JJ
HVWWHPSRUDULO\PRYLQ
J
WKHFRPSXWHUL
I
SRVVLEOH
I
LYHWR
I
HHW
I
U
R
PWK
H
5
RX
W
H
U
&
KDQJLQJWKHZLUHOHVVFKDQQH
O
ŏ'HSHQGLQ
J
RQORFDOZLUHOHVVWUD
II
LF
DQGLQWHUIHUHQFHVZLWFKLQ
J
WKHZLUHOHVVFKDQQHORI\RXUQHWZRUNFDQ
LPSURYHSHUIRUPDQFHDQGUHOLDELOLW\7KHGHIDXOWFKDQQHOWKH5RXWHU
LVVKLSSHGZLWKLVFKDQQHO
\
RXPD
\
FKRRVHIURPVHYHUDORWKHU
FKDQQHOVGHSHQGLQJRQ\RXUUHJLRQ6HHWKHVHFWLRQRQSDJH
HQWLWOHGœ&KDQJLQJWKH:LUHOHVV&KDQQHOŔIRULQVWUXFWLRQVRQKRZWR
FKRRVH
R
W
KH
U
FKD
QQ
HOV
/L
P
L
W
L
QJW
K
HZ
L
UH
O
HVVWUDQVP
L
WUDW
H
ŏ
/L
P
L
W
L
Q
J
W
K
HZ
L
UH
O
HVVWUDQVP
L
W
UDWHFDQ
K
H
O
S
L
PSURYHW
K
HPD[
L
PXPZ
L
UH
O
HVVUDQ
J
HDQ
G
FRQQHFW
L
RQ
V
WDELOLW\0RVWZLUHOHVVFDUGVKDYHWKHDELOLW\WROLPLWWKHWUDQVPLVVLRQ
UDWH7RFKDQ
J
HWKLVSURSHUW\
J
RWRWKH:LQGRZV&RQWURO3DQHORSHQ
œ
1HWZRUN&RQQHFWLRQVŔDQGGRXEOHFOLFNRQ\RXUZLUHOHVVFDUGőV
FRQQHFWLRQ,QWKHSURSHUWLHVGLDORJVHOHFWWKHœ&RQILJXUHŔEXWWRQRQ
W
KHœ*HQHUDOŔWDE
:LQGRZVXVHUVZLOOKDYHWRVHOHFWWKHZLUHOHVV
FDUGLQWKHOLVWER[DQGWKHQFOLFNœ3UR
S
HUWLHVŔ
WKHQFKRRVHWKH
œ$G
YDQFH
WD
E
DQ
G
VH
O
HFWW
K
HUDWHSURSHUW
\
:L
UH
O
HVVF
OL
HQWFDU
G
VDUHXVXD
OO\
VHWWRDXWRPDW
L
FD
OO\
D
GM
XVWW
K
H
ZLUHOHVVWUDQVPLWUDWH
I
RU\RXEXWGRLQ
J
VRFDQFDXVHSHULRGLF
GLVFRQQHFWVZKHQWKHZLUHOHVVVL
J
QDOLVWRRZHDNDVDUXOHVORZHU
W
UDQVPLVVLRQUDWHVDUHPRUHVWDEOH([SHULPHQWZLWKGLIIHUHQW
FRQQHFWLRQUDWHVXQWLO\RXILQGWKHEHVWRQHIRU\RXUHQYLURQPHQW
1RWHWKDWDOODYDLODEOHWUDQVPLVVLRQUDWHVVKRXOGEHDFFH
S
WDEOHIRU
E
URZVLQJWKH,QWHUQHW)RUPRUHDVVLVWDQFHVHH\RXUZLUHOHVVFDUGőV
X
VHUPDQXD
O

7URXEOHVKRRWLQJ
,DPKDYLQJGLIILFXOW\VHWWLQJXS:LUHG(TXLYDOHQW3ULYDF\:(3
VHFXULW
\
RQP
\
%HONLQ5RXWHU

 /RJLQWR\RXU5RXWHU
 2SHQ
\
RXUZHEEURZVHUDQGW
\
SHLQWKH,3DGGUHVVRIWKH5RXWHU
7KH5RXWHUőVGHIDXOWLV
/RJLQWR\RXU5RXWHUE\
FOLFNLQ
J
RQWKHœ/R
J
LQŔEXWWRQLQWKHWRSUL
J
KWKDQGFRUQHUR
I
WKH
V
FUHHQ<RXZLOOEHDVNHGWRHQWHU\RXUSDVVZRUG,
I
\RXQHYHUVHW
DSDVVZRUGOHDYHWKHœ3DVVZRUGŔILHOGEODQNDQGFOLFNœ
6
XEPLWŔ
&
OLFNWKHœ:LUHOHVVŔWDERQWKHOHIWRI\RXUVFUHHQ
6
HOHF
W
W
KHœ(QFU\SWLRQŔRUœ6HFXULW\ŔWDEWRJHWWRWKHVHFXULW
\
V
HWWLQJVSDJH

 6HOHFWœELW:(3ŔIURPWKHGURSGRZQPHQX

 $IWHUVHOHFWLQJ\RXU:(3HQFU\SWLRQPRGH\RXFDQW\SHLQ
\
RXUKH[:(3NH
\
PDQXDOO
\
RU
\
RXFDQW
\
SHLQDSDVVSKUDVH
LQWKHœ3DVV
S
KUDVHŔILHOGDQGFOLFNœ*HQHUDWHŔWRFUHDWHD:(3
NH\IURPWKHSDVVSKUDVH
&
OLFNœ$SSO\
&
KDQJHVŔWRILQLVK<RX
P
XVWQRZVHWDOOR
I
\RXUFOLHQWVWRPDWFKWKHVHVHWWLQ
J
V$KH[
KH[DGHFLPDO
NH\LVDPL[WXUHRIQXPEHUVDQGOHWWHUVIURP$)
DQ
G

)
RU
EL
W
:(3
\RXQHH
G
WRHQWHU
K
H[
N
H\V
 )RUH[DPSOH
&
)$)%%&'%&'((ELWNH
\
 &OLFNœ$SSO\&KDQJHVŔWRILQLVK(QFU\SWLRQLQWKH:LUHOHVV5RXWHU
LVQRZVHW(DFKRI\RXUFRPSXWHUVRQ\RXUZLUHOHVVQHWZRUNZLOO
Q
RZQHHGWREHFRQILJXUHGZLWKWKHVDPH
V
HFXU
L
W\VHWW
L
QJV
:$51,1
*
,
I
\RXDUHFRQ
I
LJXULQJWKH5RXWHU
I
URPDFRPSXWHUZLW
K
DZ
L
UH
O
HVVF
OL
HQW
\
RXZ
LOO
QHH
G
WRHQVXUHW
K
DWVHFXU
L
W
\
L
VWXUQH
G
R
Q
I
RUWKLVZLUHOHVVFOLHQW,
I
WKLVLVQRWGRQH
\
RXZLOOORVH
\
RX
U
Z
L
U
HOHVV
FR
QQ
HF
W
LR
Q
1
RWHWR
0
DFXVHUV
2
UL
J
LQDO$SSOH$LU3RUWSURGXFWVVXSSRUWELW
HQFU\SWLRQRQO\$SSOH$LU3RUWSURGXFWVFDQVXSSRUWELWR
U
ELWHQFU\SWLRQ3OHDVHFKHFN\RXU$SSOH$LU3RUWSURGXFWWRVHH
ZKLFKYHUVLRQ\RXDUHXVLQJ,I\RXFDQQRWFRQILJXUH\RXUQHWZRUN
Z
L
W
K

EL
WHQFU
\
SW
L
RQWU
\

EL
WHQFU
\
SW
L
RQ

7URXEOHVKRRWLQJ
VHFWLRQ

,DPKDYLQJGLIILFXOW\VHWWLQJXS:LUHG(TXLYDOHQW3ULYDF\:(3
VHFXULW
\
RQD%HONLQFOLHQWFDUG
7
KHFOLHQWFDUGPXVWXVHWKHVDPHNH
\
DVWKH5RXWHU)RULQVWDQFHLI
\
RXU5RXWHUXVHVWKHNH
\
$$%%
&&
WKHQWKH
F
OL
HQWFDU
G
PXVW
E
HVHWWRW
K
HH[DFWVDPH
N
H
\

 'RXEOHFOLFNWKH
6
L
J
QDO,QGLFDWRULFRQWREULQ
J
XSWKHœ:LUHOHVV
1H
WZ
R
U
VF
U
HH
Q

7KHœ$GYDQFHGŔEXWWRQZLOODOORZ\RXWRYLHZDQGFRQ
I
L
J
XUHPRUH
RSWLRQVR
I
WKHFDUG

2
QFHWKHœ$GYDQFHGŔEXWWRQLVFOLFNHG
WKH%HONLQ:LUHOHVV/$1
8
WLOLW\ZLOODSSHDU7KLV8WLOLW\ZLOODOORZ\RXWRPDQD
J
HDOOWKH
DGYDQFHGIHDWXUHVRIWKH%HONLQ:LUHOHVV&DUG
 8QGHUWKHœ:LUHOHVV1HWZRUN3URSHUWLHVŔWDEVHOHFWD
Q
HWZRUNQDPHIURPWKHœ$YDLODEOH1HWZRUNVŔOLVWDQGFOLFNWKH
œ
3UR
S
HUWLHVŔEXWWRQ
 8QGHUœ'DWD(QFU
\
SWLRQŔVHOHFWœ:(3Ŕ

 (QVXUHWKHFKHFNER[œ7KHNH
\
LVSURYLGHGIRUPHDXWRPDWLFDOO
\
Ŕ
DWWKHERWWRPLVXQFKHFNHG,I\RXDUHXVLQJWKLVFRPSXWHUWR
FRQQHFWWRDFRUSRUDWHQHWZRU
N
S
O
HDVHFRQVX
O
W
\
RXUQHWZRU
N
DG
PLQL
V
WU
D
W
R
UL
I
WKL
V
ER
[Q
HHGV
W
R
EH
F
K
HF
N
HG

7\
SH
\
RXU
:(3
N
H
\
L
QW
K
H
œ1
HWZRU
N
N
H
E
R[
,P
S
RUWDQW
$:(3NH
\
LVDPL[WXUHR
I
QXPEHUVDQGOHWWHUV
I
URP
$
)
DQ
G

)
RU
EL
W
:(3

\
RXQHH
G
WRHQWHU
N
H
\
V
7KL
V
Q
HWZRU
N
N
H\QHH
G
VWRPDWF
K
W
K
H
N
H\\RXDVV
LJ
QWR\RXU
5
RXWHU
 )RUH[DPSOH
&
)$)%%&'%&'((ELWNH
\

 &OLFNœ2.ŔDQGWKHQœ$SSO\ŔWRVDYHWKHVHWWLQ
J
V
,
I\RXDUH127XVLQJD%HONLQZLUHOHVVFOLHQWFDUGSOHDVHFRQVXOWWKH
P
DQXIDFWXUHUőVXVHUPDQXDOIRUWKDWZLUHOHVVFOLHQWFDUG

7URXEOHVKRRWLQJ
'R%HONLQSURGXFWVVXSSRUW:3$:3$"
1
R
W
H
7RXVH:3$VHFXULW\DOO\RXUFOLHQWVPXVWEHXSJUDGHG
W
RGULYHUVDQGVRIWZDUHWKDWVX
SS
RUWLW$WWKHWLPHRIWKLV)$4
S
XEOLFDWLRQDVHFXULW
\
SDWFKGRZQORDGLVDYDLODEOH
I
RU
I
UHH
I
URP0LFURVR
I
W7KLVSDWFKZRUNVRQO
\
ZLWKWKH:LQGRZV;
3
RSHUDW
L
Q
J
V\VWHP
'RZQORDGWKHSDWFKKHUH
K
WWSZZZPLFURVRIWFRPGRZQORDGVGHWDLOV
<
RXDOVRQHHGWRGRZQORDGWKHODWHVWGULYHUIRU\RXU%HONLQ:LUHOHVV
J'HVNWRSRU1RWHERRN1HWZRUN&DUGIURPWKH%HONLQVXSSRUW
V
LWH2WKHURSHUDWLQJV\VWHPVDUHQRWVXSSRUWHGDWWKLVWLPH
0LFURVRIWőVSDWFKRQO
\
VXSSRUWVGHYLFHVZLWK:3$HQDEOHGGULYHUV
V
XF
K
DV
%
H
ONL
Q
J
SUR
G
XFWV
'RZQORDGWKHODWHVWGULYHUDWKWW
S

ZZZEHONLQFRP
VX
SS
RUW
,DPKDYLQJGLIILFXOW\VHWWLQJXS:LUHOHVV3URWHFWHG$FFHVV
:3$
VHFXULW\RQP\%HONLQ5RXWHU
I
RUDKRPHQHWZRUN
 )URPWKHœ
6
HFXULW\0RGHŔGURSGRZQPHQXVHOHFWœ:3$3
6.
QRVHUYHUŔ

 )RUœ(QFU\SWLRQ7HFKQLTXHŔVHOHFWœ7.,3ŔRUœ$(6Ŕ7KLVVHWWLQJ
ZLOOKDYHWREHLGHQWLFDORQWKHFOLHQWVWKDW\RXVHWXS

 (QWHU\RXUSUHVKDUHGNH\7KLVFDQEHIURPHLJKWWR
FKDUDFWHUVDQGFDQEHOHWWHUVQXPEHUVV
\
PEROVRUVSDFHV
7
KLVVDPHNH
\
PXVWEHXVHGRQDOORIWKHFOLHQWVWKDW
\
RXVHWXS
)RUH[DPSOH\RXU3
6
.PLJKWEHVRPHWKLQJOLNHœ
6
PLWKIDPLO\
Q
HWZRU
N
N
H
\Ŕ

&
OLFNœ$SSO\
&
KDQ
J
HVŔWRILQLVK<RXPXVWQRZVHWDOOFOLHQWVWR
P
DWF
K
W
K
HVHVHWW
L
Q
J
V

7URXEOHVKRRWLQJ
VHFWLRQ

,DPKDYLQJGLIILFXOW\VHWWLQJXS:LUHOHVV3URWHFWHG$FFHVV:3$
VHFXULW
\
RQD%HONLQZLUHOHVVFOLHQWFDUGIRUDKRPHQHWZRUN
&OLHQWVPXVWXVHWKHVDPHNH
\
WKDWWKH5RXWHUXVHV)RULQVWDQFHLI
W
KHNH
\
LVœ
6
PLWK)DPLO
\
1HWZRUN.H
\
ŔLQWKH5RXWHUWKHFOLHQWVPXVW
D
O
VRXVHW
K
DWVDPH
N
H
\

 'RXEOHFOLFNWKH
6
L
J
QDO,QGLFDWRULFRQWREULQ
J
XSWKHœ:LUHOHVV
1
HWZRU
VFUHHQ
7K
H
œ$G
YDQFH
E
XWWRQZ
LOO
D
OO
RZ\RXWRY
L
HZ
DQGFRQ
I
L
J
XUHPRUHRSWLRQVR
I
\RXUFDUG

2
QFHWKHœ$GYDQFHGŔEXWWRQLVFOLFNHGWKH%HONLQ:LUHOHVV8WLOLW\
ZLOODSSHDU7KLV8WLOLW\ZLOODOORZ\RXWRPDQD
J
HDOOWKHDGYDQFHG
I
HDWXUHVRIWKH%HONLQ:LUHOHVV&DUG

 8QGHUWKHœ:LUHOHVV1HWZRUN3URSHUWLHVŔWDEVHOHFW
D
Q
HWZRUNQDPHIURPWKHœ$YDLODEOH1HWZRUNVŔOLVWDQGFOLFNWKH
œ
3UR
S
HUWLHVŔEXWWRQ

 8QGHUœ1HWZRUN$XWKHQWLFDWLRQŔVHOHFWœ:3$36.
QRVHUYHU

7
\
SH
\
RXU:3$NH
\
LQWKHœ1HWZRUNNH
\
ŔER[
,P
S
RUWDQW
:3$3
6
.LVDPL[WXUHRIQXPEHUVDQGOHWWHU
V
I
URP$=DQG)RU:3$36.\RXFDQHQWHUHLJKWWR
F
K
DUDFWHUV
7KL
VQHWZRU
N
N
H\QHH
G
VWRPDWF
K
W
K
H
N
H\\RXDVV
L
JQ
W
R
\
RXU
5
RXWHU

&
OLFNœ
2
.WKHQœ$SSO\ŔWRVDYHWKHVHWWLQ
J
V

7URXEOHVKRRWLQJ
,DP127XVLQJD%HONLQFOLHQWFDUG
I
RUDKRPHQHWZRUNDQG
,DPKDYLQ
J
GLIILFXOW\VHWWLQ
J
XS:LUHOHVV3URWHFWHG$FFHVV
:3$VHFXULW
\
,I
\RXDUHQRWXVLQJD%HONLQ:LUHOHVV'HVNWRSRU:LUHOHVV1RWHERRN
1HWZRUN
&
DUGWKDWLVQRWH
T
XL
SS
HGZLWK:3$HQDEOHGVRIWZDUHD
I
LOHIURP0LFURVRIWFDOOHGœ:LQGRZV;3
6
XSSRUW3DWFKIRU:LUHOHVV
3U
R
W
HF
W
HG
$
FFHVV
ŔL
V
D
Y
D
LO
DE
O
H
IR
U
I
U
HH
GR
ZQO
RDG
'
R
ZQO
RDG
WK
H
S
DWFKIURP0LFURVRIWE\VHDUFKLQ
J
WKHNQRZOHG
J
HEDVHIRU:LQGRZV
;3:3$
1
R
W
H
7
KHILOHWKDW0LFURVRIWKDVPDGHDYDLODEOHZRUNVRQO
\
ZLWK
:
LQGRZV;32WKHURSHUDWLQJV\VWHPVDUHQRWVXSSRUWHGDWWKLV
W
LPH<RXDOVRQHHGWRHQVXUHWKDWWKHZLUHOHVVFDUGőVPDQXIDFWXUHU
V
XSSRUWV
:3$
DQ
G
W
K
DW
\
RX
K
DYH
G
RZQ
O
RD
G
H
G
DQ
G
L
QVWD
OO
H
G
W
K
H
O
DWHVW
GULYHU
I
URPWKHLUVX
SS
RUWVLWH
6
XSSRUWHG
2
SHUDWLQ
J
6
\VWHPV
Ř
:LQ
GR
Z
V
;33U
RIHVV
L
R
Q
D
O
Ř
:LQ
GR
Z
V
;3+
R
P
H
(
G
LWL
RQ
 8QGHU:LQGRZV;3
FOLFNœ
6
WDUW!
&
RQWURO3DQHO
!
1HWZRUN&RQQHFWLRQVŔ

 5LJKWFOLFNLQJRQWKHœ:LUHOHVV1HWZRUNVŔWDEZLOOGLVSOD\WKH
I
ROORZLQJVFUHHQ(QVXUHWKHœ8VH:LQGRZVWRFRQILJXUHP\
ZLUHOHVVQHWZRUNVHWWLQJVŔFKHFNER[LVFKHFNHG

7URXEOHVKRRWLQJ
VHFWLRQ

 8QGHUWKHœ:LUHOHVV1HWZRUNVŔWDEFOLFNWKHœ&RQILJXUHŔEXWWRQ
DQG\RXZLOOVHHWKHIROORZLQJVFUHHQ
 )RUDKRPHRUVPDOOEXVLQHVVXVHU
VHOHFWœ:3$3
6
.ŔXQGHU
œ
1
H
WZ
R
UN$
G
PLQL
V
WU
D
WL
R
1
RWH 6HOHFW:3$ZLWKUDGLXVVHUYHULI\RXDUHXVLQJWKLVFRPSXWHUWR
FRQQHFWWRDFRU
S
RUDWHQHWZRUNWKDWVX
SS
RUWVDQDXWKHQWLFDWLRQVHUYHU
V
XFKDVDUDGLXVVHUYHU3OHDVHFRQVXOW
\
RXUQHWZRUNDGPLQLVWUDWRUIRU
I
XUWKHULQIRUPDWLRQ

 6HOHFWœ7.,3ŔRUœ$(6ŔXQGHUœ'DWH(QFU\SWLRQŔ7KLVVHWWLQJZLOO
K
DYHWR
E
H
LG
HQW
L
FD
O
WRW
K
H
5
RXWHUW
K
DW
\
RXVHWXS
7\
SH
L
Q
\
RXUHQFU
\
SW
L
RQ
N
H
\
L
QW
K
H
œ1
HWZRU
N
N
H
E
R[
,P
S
RUWDQW (QWHU\RXUSUHVKDUHGNH\7KLVFDQEH
I
URPHL
J
KWWR
F
K
DUDFWHUVDQ
G
FDQ
E
H
O
HWWHUVQXP
E
HUVRUV\P
E
R
O
V
7KL
VVDPH
N
H\
P
XVWEHXVHGRQDOOR
I
WKHFOLHQWVWKDW\RXVHWXS
&
OLFNœ
2
.ŔWRDSSO\VHWWLQ
J
V
:KDWÝVWKHGL
II
HUHQFHEHWZHHQJDQGGUD
I
WQ"
&XUUHQWO\WKHUHDUHWKUHHFRPPRQO\XVHGZLUHOHVVQHWZRUNLQJ
V
WDQGDUGVZKLFKWUDQVPLWGDWDDWYHU\GLIIHUHQWPD[LPXPVSHHGV
(DFKLVEDVHGRQWKHGHVLJQDWLRQIRUFHUWLI\LQJQHWZRUNVWDQGDUGV
7K
HPRVWFRPPRQZ
L
UH
O
HVVQHWZRU
NL
QJVWDQ
G
DU
G
JFDQ
W
UDQVPLWLQ
I
RUPDWLRQX
S
WR0E
S
VDDOVRVX
SS
RUWVX
S
WR
0ESVEXWLQWKH
*
+]IUHTXHQF
\
DQGQGUDIWVSHFLILFDWLRQ
FDQFRQQHFWDWXSWR0ESV
6
HHWKHFKDUWRQWKHQH[WSD
J
HIRU
PR
U
H
GH
W
D
LO
HG
LQ
IR
UP
D
WL
R
Q

7URXEOHVKRRWLQJ
%HONLQ:LUHOHVV&RP
S
DULVRQ&KDUW
:L
U
HOHVV
7
HFKQRORJ\
*

J
*
3OXV0,0
2

J
ZLWK
0,0205&
1
0,0
2
GUDIWQ
Z
LWK0,0
2
1
0,0
2
GUDIWQ
Z
LWK0,0
2
6SHHG
'D
W
D
5
D
W
H
8
SWR
0E
SV
8
SWR
0E
SV
8
SWR
0E
SV
8
SWR
0E
SV
)
UHTXHQF
\
&
RPPRQ
K
RXVH
K
R
O
G
GH
YL
FHV
VXFK
DV
FR
U
GOHVV
SK
RQHVDQ
G
PLFURZDYHRYHQV
PD
\
LQWHUIHUHZLWK
WKH
X
Q
OLFH
Q
VHG
E
DQG
*
+]
&
RPPRQ
K
RXVH
K
R
O
G
GH
YL
FHV
VXFK
DV
FR
U
GOHVV
SK
RQHVDQ
G
PLFURZDYHRYHQV
PD
\
LQWHUIHUHZLWK
WKH
X
Q
OLFH
Q
VHG
E
DQG
*
+]
&
RPPRQ
KRXVH
K
R
O
G
GH
YL
FHV
VXFK
DV
FR
U
GOHVV
SK
RQHVDQ
G
P
LFURZDYHRYHQV
P
D
\
LQWHUIHUHZLWK
WKH
X
Q
OLFH
Q
VHG
E
DQG
*
+
]
&
RPPRQ
KRXVH
K
R
O
G
GH
YL
FHV
VXFK
DV
FR
U
GOHVV
SK
RQHVDQ
G
P
LFURZDYHRYHQV
P
D
\
LQWHUIHUHZLWK
WKH
X
Q
OLFH
Q
VHG
E
DQG
*
+
]
&RPSDWLELOLW
\
&
RPSDWLEOHZLWK
E
J
&
RPSDWLEOHZLWK
E
J
&
RPSDWLEOHZLWK
G
U
D
IW

Q
D
Q
G
E
J
&
RPSDWLEOHZLWK
G
U
D
IW

Q
D
Q
G
E
J
&RYHUDJH
8S
WR
I
W
8S
WR
I
W
8S
WR
I
W
8S
WR
I
W
$GYDQWDJH
&
RPPRQ
ŏ
ZLGHVSUHDGXVH
I
RU
,QWHUQHWVKDULQ
J
%
HWWHUFRYHUDJH
DQGFRQVLVWHQW
V
SHHGDQGUDQ
JH
(
QKDQFHGV
S
HHG
DQGFRYHUD
J
H
/
HD
GL
QJH
G
JHŏ
E
HVWFRYHUDJHDQG
W
KURX
J
KSX
W
'L
VWDQFHDQ
G
FRQQHFW
L
RQVSHH
G
VZ
LOO
YDU\
G
HSHQ
GL
Q
J
RQ\RXUQHWZRU
NL
Q
J
HQY
L
URQPHQW
7KLV5RXWHULVFRPSDWLEOHZLWKSURGXFWVEDVHGRQWKHVDPHYHUVLRQRIWKHGUDIW
QVSHFLILFDWLRQVDQGPD\UHTXLUHDVRIWZDUHXS
J
UDGHIRUEHVWUHVXOWV
7URXEOHVKRRWLQJ
VHFWLRQ

7HFKQLFDO
6
XSSRUW
<
RXFDQILQGWHFKQLFDOVX
SS
RUWLQIRUPDWLRQDWKWW
S
ZZZEHONLQFRP
Q
HWZRUNLQJRUZZZEHONLQFRPWKURXJKWKHWHFKVXSSRUWDUHD,I\RX
ZDQWWRFRQWDFWWHF
K
Q
L
FD
O
VXSSRUW
E\
S
K
RQHS
O
HDVHFD
OO
8
6
 


H[W
_



H[W

8.




$
XV
WUDOLD 



1H
Z=
H
DODQ
G




6LQ
J
DSRUH


(XUR
S
H ZZZEHONLQFRPVX
SS
RU
W

,QI
R
UP
D
WL
R
Q
)
&&
6
WDWHPHQW
'
(
&
/$5$7,
2
1
2
)
&2
1)
2
50,7<:,7+)
&&
58/(
6
)
2
5
(
/(
&
75
2
0$
*
1(7,
&
&2
03$7,%,/,7<
:H%HONLQ,QWHUQDWLRQDO,QFRI:HVW:DOQXW
6
WUHHW
&
RPSWRQ
&
$GHFODUHXQGHURXUVROHUHVSRQVLELOLW\
W
K
DWW
K
HSUR
G
XFW
)
'


WRZKLFKWKLVGHFODUDWLRQUHODWHVFRP
S
OLHVZLWK3DUW
RIWKH)&&5XOHV2SHUDWLRQLVVXEMHFWWRWKHIROORZLQ
J
WZRFRQGLWLRQV
WKLVGHYLFHPD
\
QRWFDXVHKDUPIXO
LQWHUIHUHQFHDQG
WKLVGHYLFHPXVWDFFHSWDQ\
LQWHU
I
HUHQFHUHFHLYHGLQFOXGLQJLQWHU
I
HUHQFHWKDWPD\
FDXVHXQ
G
HV
L
UH
G
RSHUDW
L
RQ
&
DXWLRQ([
S
RVXUHWR5DGLR)UH
T
XHQF
\
5DGLDWLRQ
7
KHUDGLDWHGRXWSXWSRZHURIWKLVGHYLFHLVIDUEHORZWKH)
&&
UDGLRIUHTXHQF\
H[SRVXUHOLPLWV1HYHUWKHOHVVWKHGHYLFHVKDOOEHXVHGLQVXFKDPDQQHUWKDW
W
KHSRWHQWLDOIRUKXPDQFRQWDFWGXULQJQRUPDORSHUDWLRQLVPLQLPL]HG
:
KHQFRQQHFWLQJDQH[WHUQDODQWHQQDWRWKHGHYLFHWKHDQWHQQDVKDOOEH
S
ODFHGLQVXFKDPDQQHUWRPLQLPL]HWKHSRWHQWLDOIRUKXPDQFRQWDFWGXULQJ
Q
RUPDORSHUDWLRQ,QRUGHUWRDYRLGWKHSRVVLELOLW\RIH[FHHGLQJWKH)
&&
UDGLR
I
UHTXHQF
\
H[SRVXUHOLPLWVKXPDQSUR[LPLW
\
WRWKHDQWHQQDVKDOOQRWEHOHVV
W
KDQFP
LQFKHV
GXULQ
J
QRUPDORSHUDWLRQ
)HGHUDO
&
RPPXQLFDWLRQV
&
RPPLVVLRQ1RWLF
H
7
KLVHTXLSPHQWKDVEHHQWHVWHGDQG
I
RXQGWRFRPSO\ZLWKWKHOLPLWV
I
RUD
&ODVV%GLJLWDOGHYLFHSXUVXDQWWR3DUWRIWKH)&&5XOHV7KHVHOLPLWVDUH
GHVLJQHGWRSURYLGHUHDVRQDEOHSURWHFWLRQDJDLQVWKDUPIXOLQWHUIHUHQFHLQD
UHVLGHQWLDOLQVWDOODWLRQ
7
KLVHTXLSPHQWJHQHUDWHVXVHVDQGFDQUDGLDWHUDGLRIUHTXHQF\HQHUJ\
,I
WKLVH
T
XL
S
PHQWGRHVFDXVHKDUP
I
XOLQWHU
I
HUHQFHWRUDGLRRUWHOHYLVLRQ
UHFHSWLRQZKLFKFDQEHGHWHUPLQHGE\WXUQLQ
J
WKHHTXLSPHQWR
II
DQGRQWKH
X
VHULVHQFRXUD
J
HGWRWU\DQGFRUUHFWWKHLQWHU
I
HUHQFHE\RQHRUPRUHR
I
WKH
I
ROORZLQ
J
PHDVXUHV
 Ř 5HRULHQWRUUHORFDWHWKHUHFHLYLQ
J
DQWHQQD
Ř ,QFUHDVHWKHGLVWDQFHEHWZHHQWKHHTXLSPHQWDQGWKHUHFHLYHU
Ř&RQQHFWWKHHTXLSPHQWWRDQRXWOHWRQDFLUFXLWGLIIHUHQWIURPWKDWWR
Z
KLFKWKHUHFHLYHULVFRQQHFWHG
Ř &RQVXOWWKHGHDOHURUDQH[
S
HULHQFHGUDGLR79WHFKQLFLDQIRUKHO
S

,QI
R
UP
D
WL
R
Q
VHF
W
LRQ

0RGLILFD
W
LR
Q
V
7
KH)&&UHTXLUHVWKHXVHUWREHQRWLILHGWKDWDQ\FKDQ
J
HVRUPRGLILFDWLRQVWR
W
KLVGHYLFHWKDWDUHQRWH[SUHVVO\DSSURYHGE\%HONLQ,QWHUQDWLRQDO,QFPD\
YRLGWKHXVHUőVDXWKRULW\WRRSHUDWHWKHHTXLSPHQW
&
DQDGD,QGXVWU\&DQDGD,&
7
KHZLUHOHVVUDGLRRIWKLVGHYLFHFRPSOLHVZLWK566566,QGXVWU
\
&
DQDGD7KLV
&
ODVV%GL
J
LWDODSSDUDWXVFRPSOLHVZLWK
&
DQDGLDQ,
&
(
6

&HWD
SS
DUHLOQXP
«
UL
T
XHGHODFODVVH%FRQIRUPH
£
ODQRUPH10%
GX
&
DQDGD
(
XURSH
(
XURSHDQ
8
Q
L
RQ
1
RW
L
FH
5
D
GL
RSUR
G
XFWVZ
L
W
K
W
KH
&(RU&(DOHUWPDUNLQ
J
FRPSO\ZLWKWKH577('LUHFWLY
H
(&LVVXHGE\WKH&RPPLVVLRQRIWKH(XURSHDQ&RPPXQLW\
&RPSOLDQFHZLWKWKLVGLUHFWLYHLPSOLHVFRQIRUPLW\WRWKHIROORZLQJ(XURSHDQ
1RUPV
LQEUDFNHWVDUHWKHH
T
XLYDOHQWLQWHUQDWLRQDOVWDQGDUGV

Ř(1,(&Ŏ3URGXFW6DIHW
\
Ř(17HFKQLFDOUH
T
XLUHPHQW
I
RUUDGLRH
T
XL
S
PHQW
Ř(7
6

*
HQHUDO(0
&
UH
T
XLUHPHQWVIRUUDGLRH
T
XL
S
PHQW
7
RGHWHUPLQHWKHW\SHR
I
WUDQVPLWWHUFKHFNWKHLGHQWL
I
LFDWLRQODEHORQ\RX
U
%
H
ONL
QSUR
G
XFW
3URGXFWVZLWKWKH&(PDUNLQ
J
FRPSO\ZLWKWKH(0&'LUHFWLYH
((&DQGWKH/RZ9ROWDJH'LUHFWLYH((&LVVXHG
E\
WKH&RPPLVVLRQRIWKH(XURSHDQ&RPPXQLW
\
&RPSOLDQFHZLWKWKHVH
GLUHFWLYHVLPSOLHVFRQIRUPLW\WRWKHIROORZLQJ(XURSHD
Q
1RUPV
LQEUDFNHWVDUHWKHH
T
XLYDOHQWLQWHUQDWLRQDOVWDQGDUGV

Ř(1
&
,
6
35
Ŏ(OHFWURPD
J
QHWLF,QWHUIHUHQF
H
Ř(1
,(
&

Ŏ(OHFWURPD
J
QHWLF,PPXQLW
\
Ř(1
,(
&

Ŏ3RZHU/LQH+DUPRQLF
V
Ř(1
,(
&

Ŏ3RZHU/LQH)OLFNH
U
Ř(1,(&Ŏ3URGXFW6DIHW
\
3URGXFWVWKDWFRQWDLQWKHUDGLRWUDQVPLWWHUDUHODEHOHGZLWK
&
(RU
&
(
DOHUWPDUNLQJDQGPD\DOVRFDUU\WKH&(ORJR
You are cautioned that changes or modifications not expressly approved by the
party responsible for compliance could void your authority to operate the equipment.

,QIRUPDWLRQ
%
H
ONL
Q
,
QWHUQDW
L
RQD
O

,
QF
/L
P
L
WH
G
/LI
HW
L
PH
3
UR
G
XFW
:
DUUDQW
\
:
KDWWKLVZDUUDQW\FRYHUV
%HONLQ,QWHUQDWLRQDO,QFœ%HONLQŔZDUUDQWVWRWKHRULJLQDOSXUFKDVHURIWKLV
%HONLQSURGXFWWKDWWKHSURGXFWVKDOOEHIUHHRIGHIHFWVLQGHVLJQDVVHPEO\
P
DWHULDORUZRUNPDQVKL
S
:K
DWW
K
HSHU
L
R
G
R
I
FRYHUD
J
H
L
V
%HONLQZDUUDQWVWKH%HONLQ
S
URGXFW
I
RUWKHOL
I
HWLPHR
I
WKH
S
URGXFW
:
KDWZLOOZHGRWRFRUUHFW
S
UREOHPV
"
3
UR
G
XFW
:
DUUDQW
\
%HONLQZLOOUHSDLURUUHSODFHDWLWVRSWLRQDQ\GH
I
HFWLYHSURGXFW
I
UHHR
I
FKDU
J
H
H[FHSWIRUVKLSSLQ
J
FKDU
J
HVIRUWKHSURGXFW
:
KDWLVQRWFRYHUHGE\WKLVZDUUDQW\
"
$
OODERYHZDUUDQWLHVDUHQXOODQGYRLGLIWKH%HONLQ
S
URGXFWLVQRW
S
URYLGHG
W
R%HONLQIRULQV
S
HFWLRQX
S
RQ%HONLQőVUH
T
XHVWDWWKHVROHH[
S
HQVHR
I
W
KH
S
XUFKDVHURULI%HONLQGHWHUPLQHVWKDWWKH%HONLQ
S
URGXFWKDVEHHQ
L
PSURSHU
O\
L
QVWD
OO
H
G
D
O
WHUH
G
L
QDQ
\
ZD
\
RUWDPSHUH
G
Z
L
W
K

7K
H
%
H
ONL
Q
3
UR
G
XFW
:
DUUDQW\GRHVQRWSURWHFWD
J
DLQVWDFWVRI
*
RGVXFKDVIORRGHDUWKTXDNH
OL
J
KWQLQ
J
ZDUYDQGDOLVPWKH
I
WQRUPDOXVHZHDUDQGWHDUHURVLRQ
G
HS
O
HW
L
RQR
E
VR
O
HVFHQFHD
E
XVH
G
DPD
J
H
G
XHWR
O
RZYR
O
WD
J
H
GL
VWXU
E
DQFHV
LHEURZQRXWVRUVD
J
VQRQDXWKRUL]HGSUR
J
UDPRUV\VWHPHTXLSPHQW
P
RGLILFDWLRQRUDOWHUDWLR
Q
+RZWR
J
HWVHUYLFH
7
RJHWVHUYLFHIRU\RXU%HONLQSURGXFW\RXPXVWWDNHWKHIROORZLQJVWHS
V
 &RQWDFW%HONLQ,QWHUQDWLRQDO,QFDW::DOQXW6W&RP
S
WRQ&
$
$WWQ
&
XVWRPHU
6
HUYLFHRUFDOO

ZLWKLQGD
\
VR
I
WKH
2
FFXUUHQFH%HSUHSDUHGWRSURYLGHWKHIROORZLQ
J
LQIRUPDWLRQ
D7KHSDUWQXPEHUR
I
WKH%HONLQSURGXFW
E
:KHUH\RXSXUFKDVHGWKHSURGXFW
F:KHQ\RXSXUFKDVHGWKHSURGXFW
G&RS\RIRULJLQDOUHFHLSW
 <RXU%HONLQ&XVWRPHU6HUYLFH5HSUHVHQWDWLYHZLOOWKHQLQVWUXFW
\
RXRQ
KRZWRIRUZDUG
\
RXUUHFHLSWDQG%HONLQSURGXFWDQGKRZWRSURFHHG
Z
L
W
K
\
RXUF
O
D
L
P

,QIRUPDWLRQ
VHFWLRQ

%HONLQUHVHUYHVWKHUL
J
KWWRUHYLHZWKHGDPD
J
HG%HONLQSURGXFW$OOFRVWVR
I
V
KLSSLQ
J
WKH%HONLQSURGXFWWR%HONLQIRULQVSHFWLRQVKDOOEHERUQHVROHO\E\
W
KHSXUFKDVHU,I%HONLQGHWHUPLQHVLQLWVVROHGLVFUHWLRQWKDWLWLVLPSUDFWLFDO
W
RVKLSWKHGDPDJHGHTXLSPHQWWR%HONLQ%HONLQPD\GHVLJQDWHLQLWVVROH
GLVFUHWLRQDQHTXLSPHQWUHSDLUIDFLOLW
\
WRLQVSHFWDQGHVWLPDWHWKHFRVWWR
UHSDLUVXFKHTXLSPHQW7KHFRVWLIDQ\RIVKLSSLQJWKHHTXLSPHQWWRDQG
I
URPVXFKUHSDLU
I
DFLOLW
\
DQGR
I
VXFKHVWLPDWHVKDOOEHERUQHVROHO
\
E
\
WKH
S
XUFKDVHU'DPD
J
HGHTXLSPHQWPXVWUHPDLQDYDLODEOH
I
RULQVSHFWLRQXQWLOWKH
FODLPLV
I
LQDOL]HG:KHQHYHUFODLPVDUHVHWWOHG%HONLQUHVHUYHVWKHUL
J
KWWREH
V
X
E
UR
J
DWH
G
XQ
G
HUDQ\H[
L
VW
L
Q
J
L
QVXUDQFHSR
OL
F
L
HVW
K
HSXUF
K
DVHUPD\
K
DYH
+RZVWDWHODZUHODWHVWRWKHZDUUDQW\
7
+,
6
:$55$17<
&2
17$,1
6
7+(
62
/(:$55$17<
2
)%(/.,17+(5(
$
5(1227+(5:$55$17,(6(;35(66('25(;&(37$65(48,5('
%</$:,03/,(',1&/8',1*7+(,03/,(':$55$17<25&21',7,21
2
)48$/,7<0(5&+$17$%,/,7<25),71(66)25$3$57,&8/$5
3853
26
($1'
6
8
&
+,03/,(':$55$17,(
6
,)$1<$5(/,0,7(',1
'85$7,
2
17
2
7+(7(50
2
)7+,
6
:$55$17<
6
RPHVWDWHVGRQRWDOORZOLPLWDWLRQVRQKRZORQ
J
DQLPSOLHGZDUUDQW\ODVWV
V
RW
K
HD
E
RYH
OL
P
L
WDW
L
RQVPD\QRWDSS
O
\WR\RX
,
112(9(176+$//%(/.,1%(/,$%/()25,1&,'(17$/
63(&,$/
',5(&7,1',5(&7&216(48(17,$/2508/7,3/('$0$*(668&+$6
%87127/,0,7('72/267%86,1(6625352),76$5,6,1*2872)
7
+(6$/(2586(2)$1<%(/.,1352'8&7(9(1,)$'9,6('2)7+(
3
266
,%,/,7<
2
)
68&
+'$0$
*
(
6
7
KLVZDUUDQW\
J
LYHV\RXVSHFL
I
LFOH
J
DOUL
J
KWVDQG\RXPD\DOVRKDYHRWKH
U
UL
J
KWVZKLFKPD\YDU\IURPVWDWHWRVWDWH
6
RPHVWDWHVGRQRWDOORZWKH
H[FOXVLRQRUOLPLWDWLRQR
I
LQFLGHQWDOFRQVHTXHQWLDORURWKHUGDPD
J
HVVRWKH
D
E
RYH
OL
P
L
WDW
L
RQVPD\QRWDSS
O
\WR\RX
1
:
L
U
H
O
HVV
5RX
W
HU

Navigation menu