Comtrend 5367 Wireless ADSL2+Router User Manual CT 5367 A2 1 UM
Comtrend Corporation Wireless ADSL2+Router CT 5367 A2 1 UM
Comtrend >
User manual
&7
:LUHOHVV$'6/5RXWHU
8VHU0DQXDO
9HUVLRQ $ $XJXVW
3UHIDFH
7KLVPDQXDOSURYLGHVLQIRUPDWLRQUHODWHGWRWKHLQVWDOODWLRQRSHUDWLRQDQG
DSSOLFDWLRQRIWKLVGHYLFH 7KHLQGLYLGXDOUHDGLQJWKLVPDQXDOLVSUHVXPHGWR
KDYHDEDVLFXQGHUVWDQGLQJRIWHOHFRPPXQLFDWLRQVWHUPLQRORJ\DQGFRQFHSWV
,I\RXILQGWKHSURGXFWWREHLQRSHUDEOHRUPDOIXQFWLRQLQJSOHDVHFRQWDFW
WHFKQLFDOVXSSRUWIRULPPHGLDWHVHUYLFHE\HPDLODW,17VXSSRUW#FRPWUHQGFRP
)RUSURGXFWXSGDWHQHZSURGXFWUHOHDVHPDQXDOUHYLVLRQRUVRIWZDUHXSJUDGHV
SOHDVHYLVLWRXUZHEVLWHDWKWWSZZZFRPWUHQGFRP
,PSRUWDQW6DIHW\,QVWUXFWLRQV
:LWKUHIHUHQFHWRXQSDFNLQJLQVWDOODWLRQXVHDQGPDLQWHQDQFHRI\RXUHOHFWURQLF
GHYLFHWKHIROORZLQJEDVLFJXLGHOLQHVDUHUHFRPPHQGHG
x'RQRWXVHRULQVWDOOWKLVSURGXFWQHDUZDWHUWRDYRLGILUHRUVKRFNKD]DUG
)RUH[DPSOHQHDUDEDWKWXENLWFKHQVLQNRUODXQGU\WXERUQHDUDVZLPPLQJ
SRRO $OVRGRQRWH[SRVHWKHHTXLSPHQWWRUDLQRUGDPSDUHDVHJDZHW
EDVHPHQW
x'RQRWFRQQHFWWKHSRZHUVXSSO\FRUGRQHOHYDWHGVXUIDFHV $OORZLWWROLH
IUHHO\ 7KHUHVKRXOGEHQRREVWUXFWLRQVLQLWVSDWKDQGQRKHDY\LWHPVVKRXOG
EHSODFHGRQWKHFRUG ,QDGGLWLRQGRQRWZDONRQVWHSRQRUPLVWUHDWWKH
FRUG
x8VHRQO\WKHSRZHUFRUGDQGDGDSWHUWKDWDUHVKLSSHGZLWKWKLVGHYLFH
x7RV D IHJXDUGWKHHTXLSPHQWDJDLQVWRYHUKHDWLQJPDNHVXUHWKDWDOORSHQLQJV
LQWKHXQLWWKDWRIIHUH[SRVXUHWRDLUDUHQRWEORFNHG
x$YRLGXVLQJDWHOHSKRQHRWKHUWKDQDFRUGOHVVW\SHGXULQJDQHOHFWULFDO
VWRUP 7KHUHPD\EHDUHPRWHULVNRIHOHFWULFVKRFNIURPOLJKWHQLQJ $OVR
GRQRWXVHWKHWHOHSKRQHWRUHSRUWDJDVOHDNLQWKHYLFLQLW\RIWKHOHDN
x1HYHULQVWDOOWHOHSKRQHZLULQJGXULQJVWRUP\ZHDWKHUFRQGLWLRQV
&$87,21
x7RU HGX FHWKHULVNRIILUHXVHRQO\1R$:*RUODUJHUWHOHFRPPXQLFDWLRQ
OLQHFRUG
x$OZD\VGLVFRQQHFWDOOWHOHSKRQHOLQHVIURPWKHZDOORXWOHWEHIRUHVHUYLFLQJRU
GLVDVVHPEOLQJWKLVHTXLSPHQW
:$51,1*
'LVFRQQHFWWKHSRZHUOLQHIURPWKHGHYLFHEHIRUHVHUYLFLQJ
3RZHUVXSSO\VSHFLILFDWLRQVDUHFOHDUO\VWDWHGLQ$SSHQGL[&
&RS\ULJKW
&RS\ULJKW&RPWUHQG&RUSRUDWLRQ $OOULJKWVUHVHUYHG 7KHLQIRUPDWLRQ
FRQWDLQHGKHUHLQLVSURSULHWDU\WR&RPWUHQG&RUSRUDWLRQ 1RSDUWRIWKLV
GRFXPHQWPD\EHWUDQVODWHGWUDQVFULEHGUHSURGXFHGLQDQ\IRUPRUE\DQ\
PHDQVZLWKRXWSULRUZULWWHQFRQVHQWRI&RPWUHQG&RUSRUDWLRQ
127(7KLVGRFXPHQWLVVXEMHFWWRFKDQJHZLWKRXWQRWLFH
)&&,QWHUIHUHQFH6WDWHPHQW
7KLVHTXLSPHQWKDVEHHQWHVWHGDQGIRXQGWRFRPSO\ZLWKWKHOLPLWVIRUD&ODVV%
'LJLWDO'HYLFHSXUVXDQWWRSDUWRIWKH)&&5XOHV7KHVHOLPLWVDUHGHVLJQHGWR
SURYLGHUHDVRQDEOHSURWHFWLRQDJDLQVWKDUPIXOLQWHUIHUHQFHLQDUHVLGHQWLDO
LQVWDOODWLRQ7KLVHTXLSPHQWJHQHUDWHVXVHVDQGFDQUDGLDWHUDGLRIUHTXHQF\
HQHUJ\DQGLIQRWLQVWDOOHGDQGXVHGLQDFFRUGDQFHZLWKWKHLQVWUXFWLRQPD\
FDXVHKDUPIXOLQWHUIHUHQFHWRUDGLRFRPPXQLFDWLRQ+RZHYHUWKHUHLVQRJUDQWHH
WKDWLQWHUIHUHQFHZLOOQRWRFFXULQDSDUWLFXODULQVWDOODWLRQ,IWKLVHTXLSPHQWGRVH
FDXVHKDUPIXOLQWHUIHUHQFHWRUDGLRRUWHOHYLVLRQUHFHSWLRQZKLFKFDQEH
GHWHUPLQHGE\WXUQLQJWKHHTXLSPHQWRIIDQGRQWKHXVHULVHQFRXUDJHGWRWU\WR
FRUUHFWWKHLQWHUIHUHQFHE\RQHRUPRUHRIWKHIROORZLQJPHDVXUHV
z5HRULHQWRUUHORFDWHWKHUHFHLYLQJDQWHQQD
z,QFUHDVHWKHVHSDUDWLRQEHWZHHQWKHHTXLSPHQWDQGUHFHLYHU
z&RQQHFWWKHHTXLSPHQWLQWRDQRXWOHWRQDFLUFXLWGLIIHUHQWIURPWKDWWRZKLFK
WKHUHFHLYHULVFRQQHFWHG
z&RQVXOWWKHGHDOHURUDQH[SHULHQFHGUDGLR79WHFKQLFLDQIRUKHOS
)&&&DXWLRQ7KHFKDQJHVRUPRGLILFDWLRQVQRWH[SUHVVO\
DSSURYHGE\WKHSDUW\UHVSRQVLEOHIRUFRPSOLDQFH
FRXOGYRLGWKHXVHUVDXWKRULW\WRRSHUDWHWKH
HTXLSPHQW
7KLVGHYLFHFRPSOLHVZLWK3DUWRIWKH)&&5XOHV2SHUDWLRQLVVXEMHFWWRWKH
IROORZLQJWZRFRQGLWLRQV
7KLVGHYLFHPD\QRWFDXVHKDUPIXOLQWHUIHUHQFH
7KLVGHYLFHPXVWDFFHSWDQ\LQWHUIHUHQFHUHFHLYHGLQFOXGLQJLQWHUIHUHQFHWKDW
PD\FDXVHXQGHVLUHGRSHUDWLRQ
)&&5DGLDWLRQ([SRVXUH6WDWHPHQW
7RFRPSO\ZLWKWKH)&&5)H[SRVXUHFRPSOLDQFHUHTXLUHPHQWVWKLVGHYLFHDQGLWV
DQWHQQDPXVWQRWEHFRORFDWHGRURSHUDWLQJWRFRQMXQFWLRQZLWKDQ\RWKHU
DQWHQQDRUWUDQVPLWWHU
7KLVHTXLSPHQWVKRXOGEHLQVWDOOHGDQGRSHUDWHGZLWKPLQLPXPGLVWDQFH
FPEHWZHHQWKHUDGLDWRU\RXUERG\
6DYH2XU(QYLURQPHQW
7KLVV\PEROLQGLFDWHVWKDWZKHQWKHHTXLSPHQWKDVUHDFKHGWKHHQGRI
LWVXVHIXOOLIHLWPXVWEHWDNHQWRDUHF\FOLQJFHQWUHDQGSURFHVVHG
VHSDUDWHIURPGRPHVWLFZDVWH
7KHFDUGERDUGER[WKHSODVWLFFRQWDLQHGLQWKHSDFNDJLQJDQGWKHSDUWVWKDW
PDNHXSWKLVURXWHUFDQEHUHF\FOHGLQDFFRUGDQFHZLWKUHJLRQDOO\HVWDEOLVKHG
UHJXODWLRQV 1HYHUGLVSRVHRIWKLVHOHFWURQLFHTXLSPHQWDORQJZLWK\RXU
KRXVHKROGZDVWH <RXPD\EHVXEMHFWWRSHQDOWLHVRUVDQFWLRQVXQGHUWKHODZ
,QVWHDGDVNIRUGLVSRVDOLQVWUXFWLRQVIURP\RXUPXQLFLSDOJRYHUQPHQW
3OHDVHEHUHVSRQVLEOHDQGSURWHFWRXUHQYLURQPHQW
7DEOHRI&RQWHQWV
&+$37(56800$5<
&+$37(5,167$//$7,21
5
($5
3
$1(/
)
5217
3
$1(/
&+$37(5:(%86(5,17(5)$&(
'
()$8/7
6
(77,1*6
,3
&
21),*85$7,21
/
2*,1
3
52&('85(
&+$37(548,&.6(783
$
872
4
8,&.
6
(783
0
$18$/
4
8,&.
6
(783
333RYHU$70333R$DQG333RYHU(WKHUQHW333R(
0$&(QFDSVXODWLRQ5RXWLQJ0(5
,32YHU$70
%ULGJLQJ
&+$37(5'(9,&(,1)250$7,21
:$1
6
7$7,67,&6
/$16WDWLVWLFV
:$16WDWLVWLFV
$70VWDWLVWLFV
$'6/6WDWLVWLFV
5
287(
$53
'+&3
&+$37(5$'9$1&('6(783
:$1
9/$10X[
063
/$1
1$7
9LUWXDO6HUYHUV
3RUW7ULJJHULQJ
'0=+RVW
$/*
6
(&85,7<
0$&)LOWHULQJ
,3)LOWHULQJ
3
$5(17$/
&
21752/
85/)LOWHU
4
8$/,7<2)
6
(59,&(
4XHXH0DQDJHPHQW&RQILJXUDWLRQ
4XHXH&RQILJXUDWLRQ
4R6&ODVVLILFDWLRQ
5
287,1*
'HIDXOW*DWHZD\
6WDWLF5RXWH
5,3
'16
'166HUYHU
'\QDPLF'16
'6/
,
17(5)$&(
*
5283
&
(57,),&$7 (
/RFDO
7UXVWHG&$
&+$37(5:,5(/(66
%
$6,&
6
(&85,7<
:36
0$&
)
,/7(5
:
,5(/(66
%
5,'*(
$
'9$1&('
6
7$7,21
,
1)2
&+$37(5',$*1267,&6
&+$37(50$1$*(0(17
6
(77,1*6
%DFNXS
8SGDWH6HWWLQJV
5HVWRUH'HIDXOW
6
<67(0
/
2*
75
&
/,(17
,
17(51(7
7
,0(
$
&&(66
&
21752/
6HUYLFHV
,3$GGUHVVHV
3DVVZRUGV
8
3'$7 (
6
2)7:$5(
6
$9($1'
5
(%227
$33(1',;$6(&85,7<
$33(1',;%3,1$66,*10(176
$33(1',;&63(&,),&$7,216
$33(1',;'66+&/,(17
$33(1',;(:6&(;7(51$/5(*,675$5
&KDSWHU6XPPDU\
7KH&7LVDQJ0ESV:LUHOHVVDQG:LUHG$'6/URXWHU ,W
FRPHVHTXLSSHGZLWKIRXU%DVH7(WKHUQHWSRUWVDQGDQ$'6/SRUWIRU
ZLUHGFRQQHFWLYLW\ $QLQWHJUDWHGJ:/$1$FFHVV3RLQW$3ZLWK:L)L
3URWHFWHG6HWXS:36SURYLGHVZLUHOHVVFRYHUDJH 7KLVPRGHOLVGHVLJQHGIRU
ERWKUHVLGHQWLDODQGEXVLQHVVDSSOLFDWLRQVWKDWUHTXLUHZLUHOHVVDQGZLUHG
FRQQHFWLYLW\WRDQ$'6/EURDGEDQGQHWZRUN
7KH&7$'6/URXWHUDOVRSURYLGHVVWDWHRIWKHDUWVHFXULW\IHDWXUHVVXFK
DV:3$GDWDHQFU\SWLRQ)LUHZDOODQG931SDVVWKURXJK7KH&7VXSSRUWVXS
WRYLUWXDOFRQQHFWLRQVDOORZLQJPXOWLSOHXVHUVDFFHVVWRWKH,QWHUQHW7KH
&7LVDOVRGHVLJQHGZLWK75FRPSOLDQWFRORUSDQHOZKLFKHDVHVWKH
LQVWDOODWLRQRIWKHPRGHPDQGPDNHVLWPRUHXVHUIULHQGO\
)($785(6
x$XWR39&FRQILJXUDWLRQ
x3HU9&SDFNHWOHYHO4R6
x8SWR9&V
x(PEHGGHG6103DJHQW
x83Q3
x0$&DGGUHVVILOWHULQJ
x,3ILOWHULQJ
x6WDWLFURXWHDQG5,3YY
x'\QDPLF,3DVVLJQPHQW
x,34R6
x1$73$7
x,*033UR[\
x'163UR[\
x75FRPSOLDQW
x,QWHJUDWHGEJ$FFHVV3RLQW
x:L)L3URWHFWHG6HWXS:36
x:3$:3$DQG[
x2SWLRQDO7XUERPRGH$IWHUEXUQHU
x:00
x:HEEDVHGPDQDJHPHQW
x&RQILJXUDWLRQEDFNXSUHVWRUDWLRQ
x5$',86FOLHQW
x)737)73VHUYHU
x'+&36HUYHU5HOD\&OLHQW
x757575VXSSRUW
x6XSSRUWVUHPRWHDGPLQLVWUDWLRQ
DXWRPDWLFILUPZDUHXSJUDGHDQG
FRQILJXUDWLRQ
$33/,&$7,21
7KHIROORZLQJGLDJUDPVKRZVWKHDSSOLFDWLRQRIWKH&7
&KDSWHU,QVWDOODWLRQ
5HDU3DQHO
)ROORZWKHLQVWUXFWLRQVEHORZWRFRPSOHWHWKHKDUGZDUHLQVWDOODWLRQ
)RU\RXUUHIHUHQFHWKHGLDJUDPEHORZVKRZVWKHEDFNSDQHORIWKH&7
$'6/3257
&RQQHFWWKH$'6/OLQHWRWKH$'6/SRUWZLWKD5-FDEOH
/$13257
8VH5-VWUDLJKWWKURXJKRUFURVVRYHU0',;FDEOHWRFRQQHFWXSWRIRXU
GHYLFHV
32:(521
3UHVVWKHSRZHUEXWWRQWRWKH2))SRVLWLRQ287 &RQQHFWWKHSRZHUDGDSWHUWR
WKHSRZHUSRUW $WWDFKWKHSRZHUDGDSWHUWRDZDOORXWOHWRURWKHU$&VRXUFH
3UHVVWKHSRZHUEXWWRQWRWKH21SRVLWLRQ,1 ,IWKH3RZHU/('LQGLFDWRUOLJKWV
XSJUHHQWKHQWKHGHYLFHLVUHDG\IRUVHWXSVHHVHFWLRQ)URQW3DQHO
&DXWLRQ ,IWKHGHYLFHIDLOVWRSRZHUXSRULWPDOIXQFWLRQVILUVWYHULI\WKDW
WKHSRZHUFRUGVDUHFRQQHFWHGVHFXUHO\ 7KHQSRZHULWRQDJDLQ
,IWKHSUREOHPSHUVLVWVFRQWDFWWHFKQLFDOVXSSRUW
&DXWLRQ%HIRUHVHUYLFLQJRUGLVDVVHPEOLQJWKLVHTXLSPHQWDOZD\V
GLVFRQQHFWDOOSRZHUFRUGVDQGWHOHSKRQHOLQHVIURPWKHLURXWOHWV
5(6(7%87721
5HVWRUHWKHGHIDXOWVHWWLQJVRIWKHGHYLFHE\KROGLQJGRZQWKH5HVHWEXWWRQXQWLO
WKHIURQWSDQHO/('LQGLFDWRUVEOLQNVLPXOWDQHRXVO\aVHFRQGV 7KLVDFWLRQ
PD\EHUHTXLUHGLIWKHURXWHUIDLOVWRUHVSRQGQRUPDOO\RULIWKHURXWHU
FRQILJXUDWLRQFKDQJHV 7KHURXWHUKDVUHERRWHGVXFFHVVIXOO\ZKHQWKH/('
LQGLFDWRUVGLVSOD\FRUUHFWO\VHHVHFWLRQ)URQW3DQHO
:36%87721
3UHVVWKLVEXWWRQWREHJLQVHDUFKLQJIRU:36FOLHQWV 7KHFOLHQWVPXVWDOVR
HQDEOH:36SXVKEXWWRQPRGH :KHQ:36LVDYDLODEOHWKH:36/('ZLOOEH21
SUHVVLQJWKHEXWWRQIRUVHFRQGVRUPRUHZLOOGLVDEOH:LUHOHVVIXQFWLRQ
3RZHU
EXWWRQ
5HVHW
EXWWRQ
:LUHOHVV
$QWHQQD
:36
EXWWRQ
)URQW3DQHO
7KH/('LQGLFDWRUVDUHVKRZQEHORZDQGH[SODLQHGLQWKHWDEOHWKDWIROORZV
7KH\DUHXVHIXOIRUFKHFNLQJWKHSRZHUDQGFRQQHFWLRQVWDWXVRIWKHURXWHU
/('&RORU0RGH)XQFWLRQ
2Q7KHURXWHULVSRZHUHGXS
32:(5*UHHQ
2II7KHURXWHULVSRZHUHGGRZQ
2Q$Q(WKHUQHW/LQNLVHVWDEOLVKHG
2II$Q(WKHUQHW/LQNLVQRWHVWDEOLVKHG
/$1
;a;
*UHHQ
%OLQN'DWDWUDQVPLWWLQJRUUHFHLYLQJRYHU/$1
2Q7KHZLUHOHVVPRGXOHLVUHDG\DQGLGOH
2II7KHZLUHOHVVPRGXOHLVQRWLQVWDOOHG
:/$1*UHHQ
%OLQN'DWDWUDQVPLWWLQJRUUHFHLYLQJRYHU:/$1
2Q:36HQDEOHG
2II:36GLVDEOHG
:36*UHHQ
%OLQN7KHURXWHULVVHDUFKLQJIRU:36FOLHQWV
2Q$'6/OLQNLVHVWDEOLVKHG
2II$'6/OLQNLVQRWHVWDEOLVKHG
$'6/
/,1.
*UHHQ
%OLQN$'6/OLQNLVWUDLQLQJ
2Q$'6//LQNLVLGOH
2II$'6//LQNLVWHUPLQDWHG
$'6/
7;5;
*UHHQ
%OLQN$'6/OLQNLVDFWLYH
&KDSWHU:HE8VHU,QWHUIDFH
7KLVVHFWLRQGHVFULEHVWKHZHEXVHULQWHUIDFHZKLFKLVDFFHVVHGXVLQJDQ\
,QWHUQHWEURZVHUVXFKDV0LFURVRIW,QWHUQHW([SORUHUYHUVLRQDQGODWHU
'HIDXOW6HWWLQJV
7KHIROORZLQJDUHWKHGHIDXOWVHWWLQJVIRUWKHGHYLFH
x/RFDO/$1DFFHVVXVHUQDPHURRWSDVVZRUG
x5HPRWH:$1DFFHVVXVHUQDPHVXSSRUWSDVVZRUGVXSSRUW
x8VHUDFFHVVXVHUQDPHXVHUSDVVZRUGXVHU
x/$1,3DGGUHVV
x:$1,3DGGUHVVQRQH
x5HPRWH:$1DFFHVVRQO\3LQJ,&03HQDEOHG
x1$7DQG)LUHZDOO333R(333R$HQDEOHG0(5,3R$%ULGJHGLVDEOHG
x'+&3VHUYHURQ/$1LQWHUIDFHHQDEOHG
x:LUHOHVV$FFHVVHQDEOHG
x66,'&RPWUHQG
x:LUHOHVV$XWKHQWLFDWLRQ2SHQLHQRDXWKHQWLFDWLRQ
,I)LUHZDOOLVQRWUHTXLUHGSOHDVHXQWLFNVHOHFWLRQER[
7KLVGHYLFHVXSSRUWVWKHIROORZLQJFRQQHFWLRQW\SHV
x333RYHU(WKHUQHW333R(
x333RYHU$70333R$
x0$&(QFDSVXODWHG5RXWLQJ0(5
x,3RYHU$70,3R$
x%ULGJLQJ
7HFKQLFDO1RWH
'XULQJSRZHURQWKHGHYLFHLQLWLDOL]HVDOOVHWWLQJVWRGHIDXOWYDOXHV ,WZLOOWKHQ
UHDGWKHFRQILJXUDWLRQSURILOHIURPWKHSHUPDQHQWVWRUDJHVHFWLRQRIIODVK
PHPRU\ 7KHGHIDXOWDWWULEXWHVDUHRYHUZULWWHQZKHQLGHQWLFDODWWULEXWHVZLWK
GLIIHUHQWYDOXHVDUHFRQILJXUHG 7KHFRQILJXUDWLRQSURILOHLQSHUPDQHQWVWRUDJH
FDQEHFUHDWHGYLDWKHZHEXVHULQWHUIDFHRUWHOQHWXVHULQWHUIDFHRURWKHU
PDQDJHPHQWSURWRFROV 7KHIDFWRU\GHIDXOWFRQILJXUDWLRQFDQEHUHVWRUHGHLWKHU
E\SXVKLQJWKHUHVHWEXWWRQIRUPRUHWKDQILYHVHFRQGVXQWLOWKHSRZHULQGLFDWHV
/('EOLQNLQJRUE\FOLFNLQJWKH5HVWRUH'HIDXOW&RQILJXUDWLRQRSWLRQLQWKH5HVWRUH
6HWWLQJVVFUHHQ
,3 &RQILJXUDWLRQ
'+&302'(
:KHQWKHGHYLFHSRZHUVXSWKH'+&3VHUYHURQWKHGHYLFHZLOOVWDUW
DXWRPDWLFDOO\ 7RVHW\RXU3&IRU'+&3PRGHFKHFNWKH,QWHUQHW3URWRFRO
SURSHUWLHVRI\RXU/RFDO$UHD&RQQHFWLRQ <RXFDQVHW\RXU3&WR'+&3PRGHE\
VHOHFWLQJ2EWDLQDQ,3DGGUHVVDXWRPDWLFDOO\LQWKHGLDORJER[VKRZQEHORZ
67$7,&,302'(
7R FRQILJXUHWKHGHYLFHPDQXDOO\\RXU3&PXVWKDYHDVWDWLF,3DGGUHVVZLWKLQ
WKH[VXEQHW )ROORZWKHVWHSVEHORZWRFRQILJXUH\RXU3&,3DGGUHVV
WRXVHVXEQHW[ 7KHIROORZLQJDVVXPHV\RXDUHUXQQLQJ:LQGRZV;3
67(3 )URPWKH1HWZRUN&RQQHFWLRQVZLQGRZRSHQ/RFDO$UHD&RQQHFWLRQ
<RXPD\DOVRDFFHVVWKLVVFUHHQE\GRXEOHFOLFNLQJWKH/RFDO$UHD
&RQQHFWLRQLFRQRQ\RXUWDVNEDU &OLFNWKH3URSHUWLHVEXWWRQ
67(36HOHFW,QWHUQHW3URWRFRO7&3,3DQGFOLFNWKH3URSHUWLHVEXWWRQ 7KH
VFUHHQVKRXOGQRZGLVSOD\DVEHORZ &KDQJHWKH,3DGGUHVVWRWKH
GRPDLQRI[[ZLWKVXEQHWPDVNRI
67(3&OLFN2.WRVXEPLWWKHVHWWLQJV
/RJLQ3URFHGXUH
3HUIRUPWKHIROORZLQJVWHSVWRORJLQWRWKHZHEXVHULQWHUIDFH
127(7KHGHIDXOWVHWWLQJVFDQEHIRXQGLQ'HIDXOW6HWWLQJV
67(3 6WDUWWKH,QWHUQHWEURZVHUDQGHQWHUWKHGHIDXOW,3DGGUHVVIRUWKH
GHYLFHLQWKH:HEDGGUHVVILHOG )RUH[DPSOHLIWKHGHIDXOW,3DGGUHVV
LVW\SHKWWS
127()RUORFDODGPLQLVWUDWLRQLH/$1DFFHVVWKH3&UXQQLQJWKHEURZVHU
PXVWEHDWWDFKHGWRWKH(WKHUQHWDQGQRWQHFHVVDULO\WRWKHGHYLFH
)RUUHPRWHDFFHVVLH:$1XVHWKH,3DGGUHVVVKRZQRQWKH'HYLFH
,QIR:$1VFUHHQDQGORJLQZLWKUHPRWHXVHUQDPHDQGSDVVZRUG
67(3 $GLDORJER[ZLOODSSHDUVXFKDVWKHRQHEHORZ (QWHUWKHGHIDXOW
XVHUQDPHDQGSDVVZRUGDVGHILQHGLQVHFWLRQ'HIDXOW6HWWLQJV
&OLFN2.WRFRQWLQXH
127( 7KHORJLQSDVVZRUGFDQEHFKDQJHGODWHUVHHVHFWLRQ
67(3$IWHUVXFFHVVIXOO\ORJJLQJLQ\RXZLOOUHDFKWKH4XLFN6HWXSVFUHHQ
127( ,ID39&FRQQHFWLRQDOUHDG\H[LVWVWKHQWKLV4XLFN6HWXSVFUHHQZLOOEH
E\SDVVHGDQGWKH'HYLFH,QIRVFUHHQZLOOGLVSOD\LQVWHDG
,QJHQHUDOWKHVHOHFWLRQVDYDLODEOHRQWKHPDLQPHQXRQVFUHHQDWOHIW
DUHEDVHGXSRQFRQILJXUHGFRQQHFWLRQVDQGXVHUDFFRXQWSULYLOHJHV
&KDSWHU4XLFN6HWXS
$IWHUORJLQWKH4XLFN6HWXSVFUHHQZLOODSSHDU ,WLVWKHGHIDXOWVFUHHQZKHQQR
FRQQHFWLRQVH[LVW 7KLVVFUHHQDOORZVIRUWKHFRQILJXUDWLRQRI'6/VHWWLQJVDQG
WKH,3FRQILJXUDWLRQ ,WLQFOXGHV:$1/$1DQG:LUHOHVVEDVLFVHWXSVFUHHQV
$XWR4XLFN6HWXS
7KLVIXQFWLRQSURYLGHVDQDXWRPDWHGSURFHVVWRTXLFNO\VHWXSD:$1FRQQHFWLRQ
7KHGHYLFHZLOODXWRGHWHFWWKHEHVW39&SURILOHDYDLODEOHSURYLGHGWKDWWKH$'6/
OLQNLVXS )RUPDQXDOVHWXSSOHDVHJRWR0DQXDO4XLFN6HWXS
67(37LFNWKH'6/$XWRFRQQHFWFKHFNER[RQWKH4XLFN6HWXSVFUHHQ
67(3 &OLFN1H[WWRVWDUWWKHVHWXSSURFHVV )ROORZWKHRQVFUHHQSURPSWV
67(3$IWHUVHWXSLVFRPSOHWHWKHGHYLFHZLOOUHERRW
127($IWHUWKHGHYLFHUHERRWVWKH'HYLFH,QIRVFUHHQVKRXOGDSSHDU ,IWKH
EURZVHUGRHVQRWUHIUHVKDXWRPDWLFDOO\FORVHLWDQGUHVWDUW <RXZLOO
QHHGWRORJLQDJDLQ ,I\RXHQFRXQWHUGLIILFXOW\EHVXUHWRFKHFNWKH,3
FRQILJXUDWLRQVHHVHFWLRQ,3&RQILJXUDWLRQ
0DQXDO4XLFN6HWXS
7RVHWXSWKHURXWHUPDQXDOO\IROORZWKHVHLQVWUXFWLRQV
67(36HOHFW4XLFN6HWXSIURPWKHPDLQPHQXDQGXQFKHFNWKH'6/
$XWRFRQQHFWFKHFNER[; WREHJLQWKHPDQXDOTXLFNVHWXSSURFHVV
67(3 $GMXVWWKH93,DQG9&,VHWWLQJVIRUWKHFRQQHFWLRQ\RXZLVKWRHVWDEOLVK
6HOHFW(QDEOH4XDOLW\2I6HUYLFHLIUHTXLUHG
&OLFN1H[WWRFRQWLQX67(32QWKLVVFUHHQ\RXFDQFKRRVHWKH
FRQQHFWLRQW\SHDQGVHOHFWWKHDSSURSULDWHHQFDSVXODWLRQPRGH 7KHDYDLODEOH
RSWLRQVDUHVKRZQ
333R$9&08;//&(1&$368/$7,21
333R(//&61$3%5,'*,1*9&08;
0(5//&61$3%5,'*,1*9&08;
,3R$//&61$35287,1*9&08;
%ULGJLQJ//&61$3%5,'*,1*9&08;
8QFKHFNWREHJLQWKHPDQXDOTXLFNVHWXS
SURFHVVDQGGLVSOD\WKHIROORZLQJVFUHHQ
&OLFN1H[WWRFRQWLQXH«
127( 7KHVXEVHFWLRQVWKDWIROORZFRQWLQXHWKH$7039&VHWXSSURFHGXUH
(QWHUWKHDSSURSULDWHVHWWLQJVIRU\RXUVHUYLFH &KRRVLQJGLIIHUHQW
FRQQHFWLRQW\SHVZLOOOHDGWRDGLIIHUHQWVHTXHQFHRIVHWXSVFUHHQV
333RYHU$70333R$DQG333RYHU(WKHUQHW333R(
67(36HOHFW333RYHU$70333R$RU333RYHU(WKHUQHW333R(DQGFOLFN
1H[W 7KHIROORZLQJVFUHHQDSSHDUV (QWHUWKH8VHUQDPHDQG
3DVVZRUGDQGVHOHFWWKHFRQQHFWLRQRSWLRQV\RXZLVK 5HYLHZWKH
GHVFULSWLRQVEHORZIRUPRUHGHWDLOV &OLFN1H[WWRFRQWLQXH
33386(51$0(3333$66:25'
7KH3338VHUQDPHDQGWKH333SDVVZRUGUHTXLUHPHQWDUHGHSHQGHQWRQWKH
SDUWLFXODUUHTXLUHPHQWVRIWKHVHUYLFHSURYLGHU $PD[LPXPRIFKDUDFWHUVLV
DOORZHGIRUWKH333XVHUQDPHDQGDPD[LPXPRIFKDUDFWHUVIRU333
SDVVZRUG
3332(6(59,&(1$0(
3$',UHTXHVWVFRQWDLQDVHUYLFHODEHOIRU333R(FRQQHFWLRQV 6RPH333R(
VHUYHUVRU%5$6RI,63FKHFNWKLVVHUYLFHODEHOWRPDNHDFRQQHFWLRQ
(1$%/()8//&21(1$7
.QRZQDVRQHWRRQH1$7DOOUHTXHVWVIURPWKHVDPHLQWHUQDO,3DGGUHVVDQG
SRUWDUHPDSSHGWRWKHVDPHH[WHUQDO,3DGGUHVVDQGSRUW$QH[WHUQDOKRVWFDQ
VHQGDSDFNHWWRWKHLQWHUQDOKRVWE\VHQGLQJDSDFNHWWRWKHPDSSHGH[WHUQDO
DGGUHVV
',$/21'(0$1'
7KHGHYLFHFDQEHFRQILJXUHGWRGLVFRQQHFWLIWKHUHLVQRDFWLYLW\IRUDSHULRGRI
WLPH :KHQWKHFKHFNER[LVWLFNHG\RXPXVWHQWHUWKHLQDFWLYLW\WLPHRXWSHULRG
7KHWLPHRXWSHULRGUDQJHVIURPWRPLQXWHV
333,3(;7(16,21
7KH333,3([WHQVLRQLVDVSHFLDOIHDWXUHGHSOR\HGE\VRPHVHUYLFHSURYLGHUV
8QOHVV\RXUVHUYLFHSURYLGHUVSHFLILFDOO\UHTXLUHVWKLVGRQRWVHOHFWLW
333,3([WHQVLRQGRHVWKHIROORZLQJ
x$OORZVRQO\RQH3&RQWKH/$1
x7KHSXEOLF,3DGGUHVVDVVLJQHGE\WKHUHPRWHVLGHXVLQJWKH333,3&3
SURWRFROLVDFWXDOO\QRWXVHGRQWKH:$1333LQWHUIDFH ,QVWHDGLWLV
IRUZDUGHGWRWKH3&/$1LQWHUIDFHWKURXJK'+&32QO\RQH3&RQWKH
/$1FDQEHFRQQHFWHGWRWKHUHPRWHVLQFHWKH'+&3VHUYHUZLWKLQWKH
GHYLFHKDVRQO\DVLQJOH,3DGGUHVVWRDVVLJQWRD/$1GHYLFH
x1$7DQGILUHZDOODUHGLVDEOHGZKHQWKLVRSWLRQLVVHOHFWHG
x7KHGHYLFHEHFRPHVWKHGHIDXOWJDWHZD\DQG'16VHUYHUWRWKH3&
WKURXJK'+&3XVLQJWKH/$1LQWHUIDFH,3DGGUHVV
x7KHGHYLFHH[WHQGVWKH,3VXEQHWDWWKHUHPRWHVHUYLFHSURYLGHUWRWKH
/$13&LHWKH3&EHFRPHVDKRVWEHORQJLQJWRWKHVDPH,3VXEQHW
x7KHGHYLFHEULGJHVWKH,3SDFNHWVEHWZHHQ:$1DQG/$1SRUWVXQOHVV
WKHSDFNHWLVDGGUHVVHGWRWKHGHYLFH¶V/$1,3DGGUHVV
(1$%/(1$7
x ,IWKH/$1XVHVSULYDWH,3DGGUHVVHVWKLVFKHFNER[;PXVWEHVHOHFWHG
7KH1$7VXEPHQXZLOOEHDGGHGWRWKH$GYDQFHG6HWXSPHQXDIWHUUHERRW
7KLVIXQFWLRQFRQVXPHVV\VWHPUHVRXUFHVDQGWKXVPD\LPSDFWSHUIRUPDQFH
x ,IWKH/$1XVHVSXEOLF,3DGGUHVVHVWKLVFKHFNER[;PXVWQRWEHVHOHFWHG
7KH1$7VXEPHQXZLOOEHUHPRYHGIURPWKH$GYDQFHG6HWXSPHQXDIWHU
UHERRW
(1$%/(),5(:$//
7R HQ D E O H , 3SDFNHWILOWHULQJWLFNWKLVFKHFNER[;7KH)LUHZDOOPHQXZLOOEH
DGGHGWRWKH$GYDQFHG6HWXSPHQXDIWHUUHERRW'LVDEOHWKLVIXQFWLRQZKHQQRW
UHTXLUHGWRLPSURYHSHUIRUPDQFH
86(67$7,&,3$''5(66
8QOHVV\RXUVHUYLFHSURYLGHUVSHFLDOO\UHTXLUHVLWGRQRWVHOHFWWKLVFKHFNER[ ,I
VHOHFWHGHQWHUWKHVWDWLF,3DGGUHVVLQWKH,3$GGUHVVILHOG 'RQ¶WIRUJHWWR
DGMXVWWKH7&3,3VHWWLQJVDVGHVFULEHGLQVHFWLRQ,3&RQILJXUDWLRQ
5HWU\333SDVVZRUGRQDXWKHQWLFDWLRQHUURU
7LFNWKHER[WRVHOHFWWKLVRSWLRQ
(1$%/(333'(%8*02'(
0RUH333FRQQHFWLRQLQIRUPDWLRQZLOOEHOLVWHGLQWKH6\VWHP/RJ 7KLVLVXVHG
IRUGHEXJJLQJ 3OHDVHGRQWHQDEOHLWIRUQRUPDOXVDJHDVLWXVHVV\VWHP
UHVRXUFHV
),;('078
7LFNWKHFKHFNER[;DQGDGMXVWWKH078YDOXHIRU:$1LQWHUIDFH333R(DQG
333R$7KHGHIDXOWYDOXHVIRU078LV7KHDOORZDEOHUDQJHLVIURPWR
,IDYDOXHLVHQWHUHGRXWVLGHWKLVUDQJHDGLDORJER[ZLOOEHGLVSOD\HG,ID
YDOXHLVHQWHUHGRXWVLGHWKLVUDQJHDGLDORJER[ZLOOSRSXS
67(37KLVVFUHHQDOORZVWKHXVHUWRFRQWURO,*030XOWLFDVWDQG:$16HUYLFH
(1$%/(,*0308/7,&$67&+(&.%2;
7LFNWKHFKHFNER[WRHQDEOH,QWHUQHW*URXS0HPEHUVKLS3URWRFRO,*03
PXOWLFDVW ,*03LVDSURWRFROXVHGE\,3KRVWVWRUHSRUWWKHLUPXOWLFDVWJURXS
PHPEHUVKLSVWRDQ\QHLJKERULQJPXOWLFDVWURXWHUV
(1$%/(:$16(59,&(&+(&.%2;
7LFNWKLVLWHPWRHQDEOHWKH$70VHUYLFH8QWLFNLWWRVWRSWKH$70VHUYLFH
6(59,&(1$0(
7KLVLVWKH:$16HUYLFHODEHO
67(3$IWHUHQWHULQJ\RXUVHWWLQJVFOLFN1H[W 7KHIROORZLQJVFUHHQDSSHDUV
7KH'HYLFH6HWXSVFUHHQDOORZVWKHXVHUWRFRQILJXUHWKH/$1LQWHUIDFH,3DGGUHVV
VXEQHWPDVNDQG'+&3VHUYHU 7RHQDEOH'+&3VHOHFW(QDEOH'+&3VHUYHU
DQGHQWHUVWDUWLQJDQGHQGLQJ,3DGGUHVVHV6XEQHW0DVNDQGWKHOHDVHGWLPH
7KLVVHWWLQJFRQILJXUHVWKHURXWHUWRDXWRPDWLFDOO\DVVLJQ,3GHIDXOWJDWHZD\DQG
'16VHUYHUDGGUHVVHVWRHYHU\3&RQ\RXU/$1
3OHDVHEHDZDUHWKDWWKHSULYDWHDGGUHVVUDQJHHJa
GRHVQRWLQFOXGHWKHURXWHU¶V/$1LQWHUIDFH,3DGGUHVVHJ
E\GHIDXOW $OVRWKH(WKHUQHWLQWHUIDFHDQGZLUHOHVV/$1VKDUHWKH
VDPHVXEQHWVLQFHWKH\DUHEULGJHGZLWKLQWKHURXWHU
7R FRQILJXUHDVHFRQG,3DGGUHVVIRUWKH/$1SRUWFOLFNWKHER[VKRZQEHORZ
67(3(QDEOHRUGLVDEOH:LUHOHVVDQGLQSXWDQ66,' &OLFN1H[WWRSURFHHG
67(3&OLFN1H[WWRGLVSOD\WKH:$16HWXS6XPPDU\VFUHHQWKDWSUHVHQWV
WKHHQWLUHFRQILJXUDWLRQVXPPDU\ &OLFN%DFNWRPRGLI\WKHVHWWLQJV
67(3&OLFN6DYH5HERRWWRDSSO\WKHVHVHWWLQJV 7KHFRQILJXUDWLRQZLOOEH
VDYHGWRIODVKPHPRU\DQGWKHQWKHGHYLFHZLOOUHERRW $IWHUWKH
GHYLFHUHERRWVWKH:HE8,VKRXOGUHIUHVKWKHEURZVHUZLQGRZ ,IWKH
EURZVHUGRHVQRWUHIUHVKUHVWDUWWKHEURZVHUDQGORJLQDJDLQIROORZLQJ
WKHVWHSVLQVXEVHFWLRQ/RJLQ3URFHGXUH
0$&(QFDSVXODWLRQ5RXWLQJ0(5
6WHS6HOHFW0$&(QFDSVXODWLRQ5RXWLQJ0(5DQGHQWHULQIRUPDWLRQ
SURYLGHGWR\RXE\\RXU,63WRFRQILJXUHWKH:$1,3VHWWLQJV
'HWDLOHGILHOGGHVFULSWLRQVDUHSURYLGHGEHORZ &OLFN1H[WWRFRQWLQXH
'+&3LVHQDEOHGLQ0(5PRGHZKHQ2EWDLQDQ,3DGGUHVVDXWRPDWLFDOO\LV
FKRVHQ &KDQJLQJWKHGHIDXOWJDWHZD\RUWKH'16DIIHFWVWKHZKROHV\VWHP
&RQILJXULQJWKHPZLWKVWDWLFYDOXHVZLOOGLVDEOHWKHDXWRPDWLFDVVLJQPHQWIURP
'+&3RURWKHU:$1FRQQHFWLRQ,I\RXFRQILJXUHWKHVWDWLFGHIDXOWJDWHZD\RYHU
WKLV39&LQ0(5PRGH\RXPXVWHQWHUWKH,3DGGUHVVRIWKHUHPRWHJDWHZD\LQ
WKH8VH,3YDGGUHVVILHOG
6WHS7KLVVFUHHQSURYLGHVDFFHVVWR1HWZRUN$GGUHVV7UDQVODWLRQ1$7,*03
0XOWLFDVWDQG:$16HUYLFHVHWWLQJV (QDEOHHDFKVHUYLFHE\VHOHFWLQJ
LWVFKHFNER[ :KHQGRQHFOLFN1H[WWRFRQWLQXH
(1$%/(1$7
,IWKH/$1LVFRQILJXUHGZLWKDSULYDWH,3DGGUHVVWKHXVHUVKRXOGVHOHFWWKLV
FKHFNER[ 7KH1$7VXEPHQXZLOOGLVSOD\DIWHUWKHQH[WUHERRW 7KHXVHUFDQ
WKHQFRQILJXUH1$7UHODWHGIHDWXUHV,IDSULYDWH,3DGGUHVVLVQRWXVHGRQWKH
/$1VLGHWKLVFKHFNER[VKRXOGQRWEHVHOHFWHGVRDVWRIUHHXSV\VWHPUHVRXUFHV
(1$%/()8//&21(1$7
7KLVRSWLRQEHFRPHVDYDLODEOHZKHQ1$7LVHQDEOHG .QRZQDVRQHWRRQH1$7
DOOUHTXHVWVIURPWKHVDPHLQWHUQDO,3DGGUHVVDQGSRUWDUHPDSSHGWRWKHVDPH
H[WHUQDO,3DGGUHVVDQGSRUW$QH[WHUQDOKRVWFDQVHQGDSDFNHWWRWKHLQWHUQDO
KRVWE\VHQGLQJDSDFNHWWRWKHPDSSHGH[WHUQDODGGUHVV
(1$%/(),5(:$//
,IWKHILUHZDOOFKHFNER[LVVHOHFWHGWKH6HFXULW\VXEPHQXZLOOGLVSOD\DIWHUWKH
QH[WUHERRW 7KHXVHUFDQWKHQFRQILJXUHILUHZDOOIHDWXUHV,IWKHILUHZDOOLVQRW
XVHGWKLVFKHFNER[VKRXOGQRWEHVHOHFWHGVRDVWRIUHHXSV\VWHPUHVRXUFHV
(QDEOH,*030XOWLFDVW7LFNWKHFKHFNER[WRHQDEOH,*03PXOWLFDVW,*03
,QWHUQHW*URXS0HPEHUVKLS3URWRFROLVDSURWRFROXVHGE\,3KRVWVWRUHSRUW
WKHLUPXOWLFDVWJURXSPHPEHUVKLSVWRDQ\QHLJKERULQJPXOWLFDVWURXWHUV
(QDEOH:$16HUYLFH7LFNWKHFKHFNER[WRHQDEOH:$1VHUYLFH
6HUYLFH1DPH7KLVLVWKH:$16HUYLFHODEHO
6WHS8SRQFRPSOHWLRQFOLFN1H[W 7KHIROORZLQJVFUHHQDSSHDUV
7KH'HYLFH6HWXSVFUHHQDOORZVWKHXVHUWRFRQILJXUHWKH/$1LQWHUIDFH,3DGGUHVV
VXEQHWPDVNDQG'+&3VHUYHU 7RHQDEOH'+&3VHOHFW(QDEOH'+&3VHUYHU
DQGHQWHUVWDUWLQJDQGHQGLQJ,3DGGUHVVHV6XEQHW0DVNDQGWKHOHDVHGWLPH
7KLVVHWWLQJFRQILJXUHVWKHURXWHUWRDXWRPDWLFDOO\DVVLJQ,3GHIDXOWJDWHZD\DQG
'16VHUYHUDGGUHVVHVWRHYHU\3&RQ\RXU/$1
3OHDVHEHDZDUHWKDWWKHSULYDWHDGGUHVVUDQJHHJa
FDQQHYHULQFOXGHWKHURXWHU¶V/$1LQWHUIDFH,3DGGUHVVHJ
E\GHIDXOW $OVRWKH(WKHUQHWLQWHUIDFHDQGZLUHOHVV/$1VKDUHWKH
VDPHVXEQHWVLQFHWKH\DUHEULGJHGZLWKLQWKHURXWHU
6HOHFW(QDEOH'+&36HUYHU5HOD\QRWDYDLODEOHLI1$7HQDEOHGDQGHQWHUWKH
'+&36HUYHU,3$GGUHVV 7KLVDOORZVWKH5RXWHUWRUHOD\WKH'+&3SDFNHWVWR
WKHUHPRWH'+&3VHUYHU 7KHUHPRWH'+&3VHUYHUZLOOSURYLGHWKH,3DGGUHVV
7R FRQILJXUHDVHFRQG,3DGGUHVVIRUWKH/$1SRUWFOLFNWKHER[VKRZQEHORZ
67(3(QDEOHRUGLVDEOH:LUHOHVVDQGLQSXWDQ66,' &OLFN1H[WWRSURFHHG
67(3&OLFN1H[WWRGLVSOD\WKH:$16HWXS6XPPDU\VFUHHQWKDWSUHVHQWV
WKHHQWLUHFRQILJXUDWLRQVXPPDU\ &OLFN%DFNWRPRGLI\WKHVHWWLQJV
67(3&OLFN6DYH5HERRWWRDSSO\WKHVHVHWWLQJV 7KHFRQILJXUDWLRQZLOOEH
VDYHGWRIODVKPHPRU\DQGWKHQWKHGHYLFHZLOOUHERRW $IWHUWKH
GHYLFHUHERRWVWKH:HE8,VKRXOGUHIUHVKWKHEURZVHUZLQGRZ ,IWKH
EURZVHUGRHVQRWUHIUHVKUHVWDUWWKHEURZVHUDQGORJLQDJDLQIROORZLQJ
WKHVWHSVLQVXEVHFWLRQ/RJLQ3URFHGXUH
,32YHU$70
6WHS6HOHFW,3RYHU$70,3R$DQGFOLFN1H[W 7KHIROORZLQJVFUHHQ
DSSHDUV
127(6LQFH'+&3LVQRWVXSSRUWHGRYHU,3R$XVHUVPXVWPDQXDOO\HQWHUWKH
,3DGGUHVVRU:$1LQWHUIDFHIRUWKHGHIDXOWJDWHZD\DQGWKH'16VHUYHU
DGGUHVVHVSULPDU\DQGVHFRQGDU\DVSURYLGHGE\WKHLU,63
6WHS&OLFN1H[W 7KHIROORZLQJVFUHHQDSSHDUV
(1$%/(1$7
,IWKH/$1LVFRQILJXUHGZLWKDSULYDWH,3DGGUHVVWKHXVHUVKRXOGVHOHFWWKLV
FKHFNER[ 7KH1$7VXEPHQXZLOOGLVSOD\DIWHUWKHQH[WUHERRW 7KHXVHUFDQ
WKHQFRQILJXUH1$7UHODWHGIHDWXUHV,IDSULYDWH,3DGGUHVVLVQRWXVHGRQWKH
/$1VLGHWKLVFKHFNER[VKRXOGQRWEHVHOHFWHGVRDVWRIUHHXSV\VWHPUHVRXUFHV
(1$%/()8//&21(1$7
7KLVRSWLRQEHFRPHVDYDLODEOHZKHQ1$7LVHQDEOHG .QRZQDVRQHWRRQH1$7
DOOUHTXHVWVIURPWKHVDPHLQWHUQDO,3DGGUHVVDQGSRUWDUHPDSSHGWRWKHVDPH
H[WHUQDO,3DGGUHVVDQGSRUW$QH[WHUQDOKRVWFDQVHQGDSDFNHWWRWKHLQWHUQDO
KRVWE\VHQGLQJDSDFNHWWRWKHPDSSHGH[WHUQDODGGUHVV
(1$%/(),5(:$//
,IWKHILUHZDOOFKHFNER[LVVHOHFWHGWKH6HFXULW\VXEPHQXZLOOGLVSOD\DIWHUWKH
QH[WUHERRW 7KHXVHUFDQWKHQFRQILJXUHILUHZDOOIHDWXUHV,IWKHILUHZDOOLVQRW
XVHGWKLVFKHFNER[VKRXOGQRWEHVHOHFWHGVRDVWRIUHHXSV\VWHPUHVRXUFHV
(QDEOH,*030XOWLFDVW7LFNWKHFKHFNER[WRHQDEOH,*03PXOWLFDVW,*03
,QWHUQHW*URXS0HPEHUVKLS3URWRFROLVDSURWRFROXVHGE\,3KRVWVWRUHSRUW
WKHLUPXOWLFDVWJURXSPHPEHUVKLSVWRDQ\QHLJKERULQJPXOWLFDVWURXWHUV
(QDEOH:$16HUYLFH7LFNWKHFKHFNER[WRHQDEOH:$1VHUYLFH
6HUYLFH1DPH7KLVLVWKH:$16HUYLFHODEHO
6WHS&OLFN1H[WWRGLVSOD\WKHIROORZLQJVFUHHQ
7KH'HYLFH6HWXSVFUHHQDOORZVWKHXVHUWRFRQILJXUHWKH/$1LQWHUIDFH,3DGGUHVV
VXEQHWPDVNDQG'+&3VHUYHU 7RHQDEOH'+&3VHOHFW(QDEOH'+&3VHUYHU
DQGHQWHUVWDUWLQJDQGHQGLQJ,3DGGUHVVHV6XEQHW0DVNDQGWKHOHDVHGWLPH
7KLVVHWWLQJFRQILJXUHVWKHURXWHUWRDXWRPDWLFDOO\DVVLJQ,3GHIDXOWJDWHZD\DQG
'16VHUYHUDGGUHVVHVWRHYHU\3&RQ\RXU/$1
3OHDVHEHDZDUHWKDWWKHSULYDWHDGGUHVVUDQJHHJa
FDQQHYHULQFOXGHWKHURXWHU¶V/$1LQWHUIDFH,3DGGUHVVHJ
E\GHIDXOW $OVRWKH(WKHUQHWLQWHUIDFHDQGZLUHOHVV/$1VKDUHWKH
VDPHVXEQHWVLQFHWKH\DUHEULGJHGZLWKLQWKHURXWHU
6HOHFW(QDEOH'+&36HUYHU5HOD\QRWDYDLODEOHLI1$7HQDEOHGDQGHQWHUWKH
'+&36HUYHU,3$GGUHVV 7KLVDOORZVWKH5RXWHUWRUHOD\WKH'+&3SDFNHWVWR
WKHUHPRWH'+&3VHUYHU 7KHUHPRWH'+&3VHUYHUZLOOSURYLGHWKH,3DGGUHVV
7R FRQILJXUHDVHFRQG,3DGGUHVVIRUWKH/$1SRUWFOLFNWKHER[VKRZQEHORZ
67(3(QDEOHRUGLVDEOH:LUHOHVVDQGLQSXWDQ66,' &OLFN1H[WWRSURFHHG
67(3&OLFN1H[WWRGLVSOD\WKH:$16HWXS6XPPDU\VFUHHQWKDWSUHVHQWV
WKHHQWLUHFRQILJXUDWLRQVXPPDU\ &OLFN%DFNWRPRGLI\WKHVHWWLQJV
67(3&OLFN6DYH5HERRWWRDSSO\WKHVHVHWWLQJV 7KHFRQILJXUDWLRQZLOOEH
VDYHGWRIODVKPHPRU\DQGWKHQWKHGHYLFHZLOOUHERRW $IWHUWKH
GHYLFHUHERRWVWKH:HE8,VKRXOGUHIUHVKWKHEURZVHUZLQGRZ ,IWKH
EURZVHUGRHVQRWUHIUHVKUHVWDUWWKHEURZVHUDQGORJLQDJDLQIROORZLQJ
WKHVWHSVLQVXEVHFWLRQ/RJLQ3URFHGXUH
%ULGJLQJ
6WHS6HOHFW%ULGJLQJDQGFOLFN1H[W 7RHQDEOHEULGJLQJVHUYLFHWLFNWKH
(QDEOH%ULGJH6HUYLFHFKHFNER[DQGHQWHUD6HUYLFH1DPH
6WHS&OLFNWKH1H[WEXWWRQWRFRQWLQXH 2QWKLVVFUHHQ\RXPD\HQWHUWKH
,3DGGUHVVDQG6XEQHW0DVNIRUWKH/$1LQWHUIDFH &OLFN1H[W
127( 7KH/$1,3LQWHUIDFHLQEULGJHPRGHLVQHHGHGIRUORFDOXVHUVWRPDQDJH
WKHGHYLFH ,QDGGLWLRQWKHUHLVQR,3DGGUHVVIRUWKH:$1LQWHUIDFH
DQGWKHUHIRUHWKHGHYLFHFDQQRWEHDFFHVVHGUHPRWHO\LQWKLVPRGH
67(3(QDEOHRUGLVDEOH:LUHOHVVDQGLQSXWDQ66,' &OLFN1H[WWRSURFHHG
67(3&OLFN1H[WWRGLVSOD\WKH:$16HWXS6XPPDU\VFUHHQWKDWSUHVHQWV
WKHHQWLUHFRQILJXUDWLRQVXPPDU\ &OLFN%DFNWRPRGLI\WKHVHWWLQJV
67(3&OLFN6DYH5HERRWWRDSSO\WKHVHVHWWLQJV 7KHFRQILJXUDWLRQZLOOEH
VDYHGWRIODVKPHPRU\DQGWKHQWKHGHYLFHZLOOUHERRW $IWHUWKH
GHYLFHUHERRWVWKH:HE8,VKRXOGUHIUHVKWKHEURZVHUZLQGRZ ,IWKH
EURZVHUGRHVQRWUHIUHVKUHVWDUWWKHEURZVHUDQGORJLQDJDLQIROORZLQJ
WKHVWHSVLQVXEVHFWLRQ/RJLQ3URFHGXUH
&KDSWHU'HYLFH,QIRUPDWLRQ
7KHZHEXVHULQWHUIDFHLVGLYLGHGLQWRWZRZLQGRZSDQHVWKHPDLQPHQXDWOHIW
DQGWKHGLVSOD\VFUHHQRQWKHULJKW 7KHPDLQPHQXKDVWKHIROORZLQJRSWLRQV
'HYLFH,QIR$GYDQFHG6HWXS:LUHOHVV'LDJQRVWLFVDQG0DQDJHPHQW 6HOHFWLQJ
RQHRIWKHVHRSWLRQVZLOORSHQDVXEPHQXZLWKPRUHRSWLRQV
127( 7KHPHQXLWHPVVKRZQDUHEDVHGXSRQWKHFRQILJXUHGFRQQHFWLRQDQG
XVHUDFFRXQWSULYLOHJHVLHORFDORUUHPRWH
)RUH[DPSOHLQWKH$GYDQFHG6HWXSPHQXLI1$7DQG)LUHZDOODUH
HQDEOHGWKHPDLQPHQXZLOOGLVSOD\WKH1$7DQG6HFXULW\VXEPHQXV
,IHLWKHULVGLVDEOHGWKHLUFRUUHVSRQGLQJPHQXVZLOODOVREHGLVDEOHG
'HYLFH,QIRLVWKHILUVWVHOHFWLRQRQWKHPDLQPHQXVRLWZLOOEHGLVFXVVHGILUVW
6XEVHTXHQWFKDSWHUVZLOOLQWURGXFHWKHRWKHUPDLQPHQXRSWLRQVLQVHTXHQFH
7KH'HYLFH,QIR6XPPDU\VFUHHQVKRZQDERYHSURYLGHVVXPPDU\LQIRUPDWLRQ
VXFKDVGHYLFHKDUGZDUHDQGVRIWZDUHYHUVLRQVGDWDWUDQVPLVVLRQOLQHUDWHV
DQGWKH,3&RQILJXUDWLRQVHWWLQJV
:$1
6HOHFW:$1IURPWKH'HYLFH,QIRVXEPHQXWRGLVSOD\WKHFRQILJXUHG39&V
+HDGLQJ'HVFULSWLRQ
93,9&, 6KRZVWKHYDOXHVRIWKH$7093,9&,
9/$10X[ 6KRZV49/$1,'VWDWXV
&RQ,' 6KRZVWKHFRQQHFWLRQ,'QXPEHU
&DWHJRU\ 6KRZVWKH$70VHUYLFHFODVVHV
6HUYLFH 6KRZVWKHQDPHIRU:$1FRQQHFWLRQ
,QWHUIDFH 6KRZVFRQQHFWLRQLQWHUIDFHV
3URWRFRO 6KRZVWKHFRQQHFWLRQW\SHVXFKDV333R(333R$HWF
,*036KRZVWKHVWDWHRIWKH,*03IXQFWLRQ
1DW 6KRZV1HWZRUN$GGUHVV7UDQVODWLRQ1$7VWDWXV
)LUHZDOO 6KRZVWKH6HFXULW\VWDWXV
4R6 6KRZVLI,*03,34R6LVHQDEOHGRUGLVDEOHG
6WDWH 6KRZVWKHFRQQHFWLRQVWDWHRIWKH:$1FRQQHFWLRQ
6WDWXV /LVWVWKHVWDWXVRI'6/OLQN
,3Y$GGUHVV 6KRZV,3YDGGUHVVRIWKH:$1LQWHUIDFH
6WDWLVWLFV
7KH6WDWLVWLFVVXEPHQXSURYLGHVGHWDLOHGLQIRUPDWLRQIRU/$1DQG:$1LQWHUIDFHV
127( 7KHVHVWDWLVWLFVUHIUHVKHYHU\VHFRQGV
/$16WDWLVWLFV
7KLVVFUHHQVKRZVVWDWLVWLFVIRUWKH(WKHUQHWLQWHUIDFHRQWKH/$1
+HDGLQJ'HVFULSWLRQ
,QWHUIDFH (WKHUQHWDQG:LUHOHVVLQWHUIDFHV
5HFHLYHG7UDQVPLWWHG %\WHV
3NWV
(UUV
'URSV
5[7;UHFHLYHWUDQVPLWSDFNHWVLQE\WHV
5[7;UHFHLYHWUDQVPLWSDFNHWV
5[7;UHFHLYHWUDQVPLWSDFNHWVZLWKHUURUV
5[7;UHFHLYHWUDQVPLWGURSSHGSDFNHWV
:$16WDWLVWLFV
7KLVVFUHHQVKRZVVWDWLVWLFVIRULQWHUIDFHVRQWKH:$1
+HDGLQJ'HVFULSWLRQ
6HUYLFH :$1VHUYLFHODEHO
93,9&, $709LUWXDO3DWK&KDQQHO,GHQWLILHUV
3URWRFRO &RQQHFWLRQW\SHHJ333R(,3R$%ULGJH
,QWHUIDFH 6KRZVFRQQHFWLRQLQWHUIDFHVLQWKHIROORZLQJ
IRUPDWQDVB93,QXPEHUB9&,QXPEHU
7KHVHLQWHUIDFHVDUHGHYLVHGE\WKHV\VWHP
DQGQRWWKHXVHU
5HFHLYHG7UDQVPLWWHG %\WHV
3NWV
(UUV
'URSV
5[7;UHFHLYHWUDQVPLWSDFNHWVLQE\WHV
5[7;UHFHLYHWUDQVPLWSDFNHWV
5[7;UHFHLYHWUDQVPLWSDFNHWVZLWKHUURUV
5[7;UHFHLYHWUDQVPLWGURSSHGSDFNHWV
$70VWDWLVWLFV
7KHIROORZLQJILJXUHVKRZVWKH$70VWDWLVWLFVVFUHHQ
$70,QWHUIDFH6WDWLVWLFV
+HDGLQJ'HVFULSWLRQ
,Q2FWHWV 1XPEHURIUHFHLYHGRFWHWVRYHUWKHLQWHUIDFH
2XW2FWHWV 1XPEHURIWUDQVPLWWHGRFWHWVRYHUWKHLQWHUIDFH
,Q(UURUV 1XPEHURIFHOOVGURSSHGGXHWRXQFRUUHFWDEOH+(&HUURUV
,Q8QNQRZQ 1XPEHURIUHFHLYHGFHOOVGLVFDUGHGGXULQJFHOOKHDGHU
YDOLGDWLRQLQFOXGLQJFHOOVZLWKXQUHFRJQL]HG93,9&,
YDOXHVDQGFHOOVZLWKLQYDOLGFHOOKHDGHUSDWWHUQV ,IFHOOV
ZLWKXQGHILQHG37,YDOXHVDUHGLVFDUGHGWKH\DUHDOVR
FRXQWHGKHUH
,Q+HF(UURUV 1XPEHURIFHOOVUHFHLYHGZLWKDQ$70&HOO+HDGHU+(&
HUURU
,Q,QYDOLG9SL9FL
(UURUV
1XPEHURIFHOOVUHFHLYHGZLWKDQXQUHJLVWHUHG9&&
DGGUHVV
,Q3RUW1RW(QDEOH
(UURUV
1XPEHURIFHOOVUHFHLYHGRQDSRUWWKDWKDVQRWEHHQ
HQDEOHG
,Q37,(UURUV 1XPEHURIFHOOVUHFHLYHGZLWKDQ$70KHDGHU3D\ORDG7\SH
,QGLFDWRU37,HUURU
,Q,GOH&HOOV 1XPEHURILGOHFHOOVUHFHLYHG
,Q&LUFXLW7\SH(UURUV 1XPEHURIFHOOVUHFHLYHGZLWKDQLOOHJDOFLUFXLWW\SH
,Q2$050&5&
(UURUV
1XPEHURI2$0DQG50FHOOVUHFHLYHGZLWK&5&HUURUV
,Q*)&(UURUV 1XPEHURIFHOOVUHFHLYHGZLWKDQRQ]HUR*)&
$70$$//D\HU6WDWLVWLFVRYHU$'6/LQWHUIDFH
+HDGLQJ'HVFULSWLRQ
,Q2FWHWV 1XPEHURIUHFHLYHG$$/$$/&3&63'8RFWHWV
2XW2FWHWV 1XPEHURI$$/$$/&3&63'8RFWHWVWUDQVPLWWHG
,Q8FDVW3NWV 1XPEHURIUHFHLYHG$$/$$/&3&63'8SDVVHGWRD
KLJKHUOD\HU
2XW8FDVW3NWV 1XPEHURIUHFHLYHG$$/$$/&3&63'8UHFHLYHGIURPD
KLJKHUOD\HUIRUWUDQVPLVVLRQ
,Q(UURUV 1XPEHURIUHFHLYHG$$/$$/&3&63'8LQHUURU 7KH
W\SHVRIHUURUVFRXQWHGLQFOXGH&5&HUURUV
2XW(UURUV 1XPEHURIUHFHLYHG$$/$$/&3&63'8WKDWFRXOGQRW
EHWUDQVPLWWHGGXHWRHUURUV
,Q'LVFDUGV 1XPEHURIUHFHLYHG$$/$$/&3&63'8GLVFDUGHGGXH
WRDQLQSXWEXIIHURYHUIORZFRQGLWLRQ
2XW'LVFDUGV 7KLVILHOGLVQRWFXUUHQWO\XVHG
$70$$//D\HU6WDWLVWLFVIRUHDFK9&&RYHU$'6/LQWHUIDFH
+HDGLQJ'HVFULSWLRQ
93,9&, $709LUWXDO3DWK&KDQQHO,GHQWLILHUV
&5&(UURUV 1XPEHURI3'8VUHFHLYHGZLWK&5&HUURUV
6$57LPHRXWV 1XPEHURISDUWLDOO\UHDVVHPEOHG3'8VWKDWZHUH
GLVFDUGHGEHFDXVHWKH\ZHUHQRWIXOO\UHDVVHPEOHGZLWKLQ
WKHUHTXLUHGSHULRGRIWLPH ,IWKHUHDVVHPEO\WLPHLV
QRWVXSSRUWHGWKHQWKLVREMHFWFRQWDLQVD]HURYDOXH
2YHU6L]HG6'8V 1XPEHURI3'8VGLVFDUGHGEHFDXVHWKHFRUUHVSRQGLQJ
6'8ZDVWRRODUJH
6KRUW3DFNHW(UURUV 1XPEHURI3'8VGLVFDUGHGEHFDXVHWKH3'8OHQJWKZDV
OHVVWKDQWKHVL]HRIWKH$$/WUDLOHU
/HQJWK(UURUV 1XPEHURI3'8VGLVFDUGHGEHFDXVHWKH3'8OHQJWKGLGQRW
PDWFKWKHOHQJWKLQWKH$$/WUDLOHU
$'6/6WDWLVWLFV
7KHIROORZLQJILJXUHVKRZVWKH$'6/1HWZRUN6WDWLVWLFVVFUHHQLQ$'6/PRGH
&OLFNWKH5HVHW6WDWLVWLFVEXWWRQWRUHIUHVKWKHVFUHHQ
+HDGLQJ'HVFULSWLRQ
0RGH 7*OLWH*'07$'6/RU5H$'6/
7\S H &KDQQHOW\SH,QWHUOHDYHRU)DVWQRWVKRZQLQDOO
PRGHV
/LQH&RGLQJ /LQH&RGLQJIRUPDWWKDWFDQEHVHOHFWHG*GPW
*OLWH7$'6/$QQH[/DQG$QQH[0
6WDWXV /LVWVWKHVWDWXVRIWKH'6/OLQN
/LQN3RZHU6WDWH /LQNRXWSXWSRZHUVWDWH
6150DUJLQG% 6LJQDOWR1RLVH5DWLR615PDUJLQ
$WWHQXDWLRQG% (VWLPDWHRIDYHUDJHORRSDWWHQXDWLRQLQWKH
GRZQVWUHDPGLUHFWLRQ
2XWSXW3RZHUG%P 7RWDOXSVWUHDPRXWSXWSRZHU
$WWDLQDEOH5DWH.ESV 7KHV\QFUDWH\RXZRXOGREWDLQ
5DWH.ESV &XUUHQWV\QFUDWH
,Q*'07PRGHWKHIROORZLQJVHFWLRQLVLQVHUWHG
.1XPEHURIE\WHVLQ'07IUDPH
5 1XPEHURIFKHFNE\WHVLQ56FRGHZRUG
6 56FRGHZRUGVL]HLQ'07IUDPH
' 7KHLQWHUOHDYHUGHSWK
'HOD\ 7KHGHOD\LQPLOOLVHFRQGVPVHF
,Q$'6/PRGHWKHIROORZLQJVHFWLRQLVLQVHUWHG
06*F1XPEHURIE\WHVLQRYHUKHDGFKDQQHOPHVVDJH
% 1XPEHURIE\WHVLQ0X['DWD)UDPH
0 1XPEHURI0X['DWD)UDPHVLQ)(&'DWD)UDPH
7 0D['DWD)UDPHVRYHUV\QFE\WHV
5 1XPEHURIFKHFNE\WHVLQ)(&'DWD)UDPH
6 5DWLRRI)(&RYHU30''DWD)UDPHOHQJWK
/ 1XPEHURIELWVLQ30''DWD)UDPH
' 7KHLQWHUOHDYHUGHSWK
'HOD\ 7KHGHOD\LQPLOOLVHFRQGVPVHF
6XSHU)UDPHV 7RWDOQXPEHURIVXSHUIUDPHV
6XSHU)UDPH(UURUV 1XPEHURIVXSHUIUDPHVUHFHLYHGZLWKHUURUV
56:RUGV 7RWDOQXPEHURI5HHG6RORPRQFRGHHUURUV
56&RUUHFWDEOH(UURUV 7RWDO1XPEHURI56ZLWKFRUUHFWDEOHHUURUV
568QFRUUHFWDEOH(UURUV 7RWDO1XPEHURI56ZRUGVZLWKXQFRUUHFWDEOHHUURUV
+(&(UURUV 7RWDO1XPEHURI+HDGHU(UURU&KHFNVXPHUURUV
2&'(UURUV 7RWDO1XPEHURIRXWRIFHOO'HOLQHDWLRQHUURUV
/&'(UURUV 7RWDOQXPEHURI/RVVRI&HOO'HOLQHDWLRQ
7RWDO&HOOV 7RWDOQXPEHURI$70FHOOVLQFOXGLQJLGOHDQGGDWD
FHOOV
'DWD&HOOV 7RWDOQXPEHURI$70GDWDFHOOV
%LW(UURUV 7RWDOQXPEHURIELWHUURUV
,Q$'6/PRGHWKHIROORZLQJVHFWLRQLVLQVHUWHG
7R WD O (6 7RWDO1XPEHURI(UURUHG6HFRQGV
7R WD O 6 (6 7RWDO1XPEHURI6HYHUHO\(UURUHG6HFRQGV
7RWDO8$6 7RWDO1XPEHURI8QDYDLODEOH6HFRQGV
:LWKLQWKH$'6/6WDWLVWLFVZLQGRZD%LW(UURU5DWH%(5WHVWFDQEHVWDUWHG
XVLQJWKH$'6/%(57HVWEXWWRQ $VPDOOZLQGRZZLOORSHQZKHQWKHEXWWRQLV
SUHVVHGLWZLOODSSHDUDVVKRZQEHORZ &OLFN6WDUWWRVWDUWWKHWHVWRU&ORVH
,IWKHWHVWLVVXFFHVVIXOWKHSRSXSZLQGRZZLOOGLVSOD\DVIROORZV
5RXWH
&KRRVH5RXWHWRGLVSOD\WKHURXWHVWKHGHYLFHKDVIRXQG
+HDGLQJ'HVFULSWLRQ
'HVWLQDWLRQ 'HVWLQDWLRQQHWZRUNRUGHVWLQDWLRQKRVW
*DWHZD\ 1H[WKXE,3DGGUHVV
6XEQHW0DVN 6XEQHW0DVNRI'HVWLQDWLRQ
)ODJ 8URXWHLVXS
UHMHFWURXWH
*XVHJDWHZD\
+WDUJHWLVDKRVW
5UHLQVWDWHURXWHIRUG\QDPLFURXWLQJ
'G\QDPLFDOO\LQVWDOOHGE\GDHPRQRUUHGLUHFW
0PRGLILHGIURPURXWLQJGDHPRQRUUHGLUHFW
0HWULF7KHGLVWDQFHWRWKHWDUJHWXVXDOO\FRXQWHGLQKRSV ,WLVQRW
XVHGE\UHFHQWNHUQHOVEXWPD\EHQHHGHGE\URXWLQJGDHPRQV
6HUYLFH 6KRZVWKHQDPHIRU:$1FRQQHFWLRQ
,QWHUIDFH 6KRZVFRQQHFWLRQLQWHUIDFHV
$53
&OLFN$53WRGLVSOD\WKH$53LQIRUPDWLRQ
+HDGLQJ'HVFULSWLRQ
,3DGGUHVV 6KRZV,3DGGUHVVRIKRVWSF
)ODJV &RPSOHWH,QFRPSOHWH3HUPDQHQWRU3XEOLVK
+:$GGUHVV 6KRZVWKH0$&DGGUHVVRIKRVWSF
'HYLFH 6KRZVWKHFRQQHFWLRQLQWHUIDFH
'+&3
&OLFN'+&3WRGLVSOD\WKH'+&3LQIRUPDWLRQ
+HDGLQJ'HVFULSWLRQ
+RVWQDPH 6KRZVWKHGHYLFHKRVW3&QHWZRUNQDPH
0$&$GGUHVV 6KRZVWKH(WKHUQHW0$&DGGUHVVRIWKHGHYLFHKRVW3&
,3DGGUHVV 6KRZV,3DGGUHVVRIGHYLFHKRVW3&
([SLUHV,Q 6KRZVKRZPXFKWLPHLVOHIWIRUHDFK'+&3/HDVH
&KDSWHU$GYDQFHG6HWXS
7KLVFKDSWHUH[SODLQVWKHDGYDQFHGVHWXSVFUHHQVLQGHWDLO
:$1
)ROORZWKHVWHSVEHORZWRFRQILJXUH:$1LQWHUIDFHV
x7R$GGD:$1FRQQHFWLRQFOLFNWKH$GGEXWWRQ 7RHGLWDQH[LVWLQJ
FRQQHFWLRQFOLFNWKH(GLWEXWWRQQH[WWRWKHFRQQHFWLRQ7RUHPRYHD
FRQQHFWLRQVHOHFWLWVUDGLREXWWRQXQGHUWKH5HPRYHFROXPQLQWKHWDEOHDQG
FOLFNWKH5HPRYHEXWWRQXQGHUWKHWDEOH
x7RFRPSOHWHWKH$GGRU(GLWIRUDFRQQHFWLRQZLWKRXW9/$10X[SURFHHGWR
67(3LQVHFWLRQ0DQXDO4XLFN6HWXSDQGRQWKHRSHQLQJVFUHHQGRQRW
FKRRVHWKH9/$10X[RSWLRQ
x7RFRPSOHWHWKH$GGRU(GLWIRUDFRQQHFWLRQZLWK9/$10X[SURFHHGWR
VHFWLRQZKLFKSURYLGHVGHWDLOHGVHWXSLQVWUXFWLRQV
x)RUDGYLFHUHJDUGLQJ0XOWL6HUYLFHRYHU39&063VHHVHFWLRQ
x6DYH5HERRWDFWLYDWHVWKHQHZVHWWLQJVE\VDYLQJWKHPDQGWKHQUHERRWLQJ
+HDGLQJ'HVFULSWLRQ
93,9&, 93,9&,
9/$10X[ 6KRZV49/$1,'
&RQ,' :$1FRQQHFWLRQ,'QXPEHU
&DWHJRU\ $70VHUYLFHFDWHJRU\
6HUYLFH 1DPHRIWKH:$1FRQQHFWLRQ
,QWHUIDFH 1DPHRIWKHLQWHUIDFHIRU:$1
3URWRFRO 6KRZVWKHFRQQHFWLRQW\SH
,JPS 6KRZVHQDEOHRUGLVDEOH,*03SUR[\
1DW 6KRZV1HWZRUN$GGUHVV7UDQVODWLRQ1$7VWDWXV
)LUHZDOO 6KRZVWKH6HFXULW\VWDWXV
4R6 6KRZVLI,34R6LVHQDEOHGRUGLVDEOHG
6WDWH 6KRZVWKHFRQQHFWLRQVWDWHRIWKH:$1FRQQHFWLRQ
5HPRYH 7RUHPRYHDFRQQHFWLRQVHOHFWWKHUDGLREXWWRQLQWKLVFROXPQDQG
FOLFNWKH5HPRYHEXWWRQXQGHUWKHWDEOH
(GLW 8VHGWRHGLWFRQQHFWLRQV
9/$10X[
9/$10X[LVDIRUPRI9/$1WDJJLQJWKDWDOORZVPXOWLSOHSURWRFROVRYHUDVLQJOH
FRQQHFWLRQ ,WLVHVSHFLDOO\XVHIXOIRU9'6/FRQQHFWLRQVLQSDFNHWWUDQVIHU
PRGH
$GGLQJDQHZFRQQHFWLRQZLWK9/$10X[LVDFFRPSOLVKHGE\VHOHFWLQJWKH9/$1
0X[±(QDEOH0XOWLSOH3URWRFROV2YHUD6LQJOH39&FKHFNER[RXWOLQHGLQ
UHGEHORZ (QWHUDYDOXHIRU49/$1,'LQWKHER[WKDWDSSHDUVEHORZWKH
FKHFNER[&OLFN1H[WWRFRQWLQXHWRFRQQHFWLRQW\SHVHOHFWLRQ
$VVKRZQEHORZ\RXFDQFKRRVHIURP333R(0(5RU%ULGJLQJFRQQHFWLRQW\SHV
1RWLFHWKDW333R$DQG,3R$DUHQRWVKRZQ 6HOHFWWKHFRQQHFWLRQW\SH\RXZLVK
WRHVWDEOLVKDQGWKHQSURFHHGDFFRUGLQJWRWKHFRUUHVSRQGLQJFRQQHFWLRQVSHFLILF
LQVWUXFWLRQVIRXQGLQ&KDSWHU
0XOWLSOH39&VFDQEHDGGHGWRFRQQHFWLRQVVKDULQJWKHVDPH325793,9&,
YDOXHVE\UHSHDWLQJWKHSURFHGXUHDERYHDVORQJDVWKH49/$1,'VGLIIHU
+RZHYHURQO\RQH%ULGJHRQH0(5DQGIRXU333R(FRQQHFWLRQVFDQFRH[LVWRQ
WKHVDPHFRQQHFWLRQ 7KHILJXUHEHORZVKRZVDQH[DPSOHRIWKUHHSURWRFROV
VKDULQJWKHVDPHFRQQHFWLRQ
063
0XOWL6HUYLFHRYHU39&063VXSSRUWVPXOWLSOHSURWRFROVRYHUDVLQJOHFRQQHFWLRQ
$VZLWKWKH9/$10X[IXQFWLRQ333R(%ULGJHDQG0(5SURWRFROVFDQFRH[LVW
ZKLOH,3R$DQG333R$DUHQRWVXSSRUWHG 7KLVIXQFWLRQVXSSRUWVUHPRWH
PDQDJHPHQWE\EULGJHSURWRFROLQDGGLWLRQWRPXOWLPHGLDDSSOLFDWLRQVRYHUD
VLQJOH39&
&RQILJXULQJ063LVDWZRSDUWSURFHVV
3DUW &UHDWHPXOWLSOH39&V2QH%ULGJHPXOWLSOH333R(2QH0(5
3DUW 8VH,QWHUIDFH*URXSWRFRQQHFW/$1:$1LQWHUIDFHV
127( 7KHH[DPSOHEHORZVKRZVKRZWRFRQILJXUHD%ULGJH333R(063
FRQQHFWLRQ8VHWKHVDPHSURFHVVIRU%ULGJH0(5063FRQQHFWLRQV
,I4R6LVFRQILJXUHGRQWKHILUVW063FRQQHFWLRQLWZLOOEHFRQILJXUHGE\
GHIDXOWIRUDOOVXEVHTXHQWFRQQHFWLRQV
,ID063FRQQHFWLRQLVUHPRYHGHYHU\RWKHU063FRQQHFWLRQVKRXOGEH
UHPRYHGWRDYRLG,QWHUIDFH*URXSFRQILJXUDWLRQSUREOHPV
3$57±&5($7(08/7,3/(39&6
2QWKH$GYDQFHG6HWXS±:$1VFUHHQFUHDWHRQH333R(FRQQHFWLRQDQGRQH
%ULGJHFRQQHFWLRQRQWKH063VXSSRUWLQJ39& 7KHVFUHHQZLOOGLVSOD\DVIROORZV
3$57
*RWR$GYDQFHG6HWXS±,QWHUIDFH*URXS VHHVHFWLRQDQGVHOHFWWKH
(QDEOH9LUWXDO3RUWVFKHFNER[ 7KHVFUHHQZLOOGLVSOD\DVIROORZV
127( 2QO\KDUGZDUHDQGEULGJHLQWHUIDFHVDUHOLVWHG %ULGJHLQWHUIDFHVDUH
VKRZQDV³QDVB[B\B]´ZKHUH[ SRUW\ YSLDQG] YFL
7R FRQWLQXHFOLFNWKH$GGEXWWRQDWWKHERWWRPRIWKHVFUHHQVKRZQDERYH 2Q
WKHVFUHHQVKRZQEHORZVHOHFWWKHEULGJHFRQQHFWLRQDQGRQH(WKHUQHWYLUWXDO
SRUW(1(7 (QWHUDJURXSQDPHVXFKDV³063´DQGFOLFN6DYH$SSO\
,IVXFFHVVIXOO\FRQILJXUHGWKH,QWHUIDFH*URXSVFUHHQZLOOGLVSOD\DVIROORZV
/$1
7KLVVFUHHQDOORZVWKHXVHUWRFRQILJXUHWKH/$1,QWHUIDFHRQWKHGHYLFH
127( 1$7LVHQDEOHGDERYHVR83Q3LVVKRZQDQG'+&36HUYHU5HOD\LV
KLGGHQVHHXQGHUOLQHGQRWHVEHORZ
,3$''5(66
(QWHUWKH,3DGGUHVVIRUWKH/$1SRUW
68%1(70$6.
(QWHUWKHVXEQHWPDVNIRUWKH/$1SRUW
(1$%/(8313
7LFNWKHER[WRHQDEOH8QLYHUVDO3OXJDQG3OD\
7KLVRSWLRQLVKLGGHQZKHQ1$7GLVDEOHGRULIQR39&H[LVWV
(1$%/(,*0361223,1*
(QDEOHE\WLFNLQJWKHER[
6WDQGDUG0RGH,QVWDQGDUGPRGHPXOWLFDVWWUDIILFZLOOIORRGWR
DOOEULGJHSRUWVZKHQQRFOLHQWVXEVFULEHVWRDPXOWLFDVWJURXS±
HYHQLI,*03VQRRSLQJLVHQDEOHG
%ORFNLQJ0RGH,QEORFNLQJPRGHWKHPXOWLFDVWGDWDWUDIILFZLOO
EHEORFNHGDQGQRWIORRGWRDOOEULGJHSRUWVZKHQWKHUHDUHQR
FOLHQWVXEVFULSWLRQVWRDQ\PXOWLFDVWJURXS
'+&36HUYHU 7RHQDEOH'+&3VHOHFW(QDEOH'+&3VHUYHUDQGHQWHUVWDUWLQJ
DQGHQGLQJ,3DGGUHVVHVDQGWKHOHDVHGWLPH 7KLVVHWWLQJ
FRQILJXUHVWKHURXWHUWRDXWRPDWLFDOO\DVVLJQ,3GHIDXOW
JDWHZD\DQG'16VHUYHUDGGUHVVHVWRHYHU\3&RQ\RXU/$1
'+&36(59(55(/$<
(QDEOHZLWKFKHFNER[DQGHQWHU'+&36HUYHU,3DGGUHVV 7KLVDOORZVWKH5RXWHU
WRUHOD\WKH'+&3SDFNHWVWRWKHUHPRWH'+&3VHUYHU 7KHUHPRWH'+&3VHUYHU
ZLOOSURYLGHWKH,3DGGUHVV 7KLVRSWLRQLVKLGGHQLI1$7LVHQDEOHG
&RQILJXUHWKHVHFRQG,3DGGUHVVE\WLFNLQJWKHFKHFNER[VKRZQEHORZ
,3$GGUHVV (QWHUWKHVHFRQGDU\,3DGGUHVVIRUWKH/$1SRUW
6XEQHW0DVN (QWHUWKHVHFRQGDU\VXEQHWPDVNIRUWKH/$1SRUW
(7+(51(70(',$7<3(
6HOHFWEHWZHHQ$XWRB+DOIB)XOOB+DOIDQGB)XOORSWLRQV
127(7KH6DYHEXWWRQVDYHVQHZVHWWLQJVWRDOORZFRQWLQXHGFRQILJXUDWLRQ
ZKLOHWKH6DYH5HERRWEXWWRQQRWRQO\VDYHVQHZVHWWLQJVEXWDOVR
UHERRWVWKHGHYLFHWRDSSO\WKHQHZFRQILJXUDWLRQLHDOOQHZVHWWLQJV
1$7
7RGLVSOD\WKLVRSWLRQ1$7PXVWEHHQDEOHGLQDWOHDVWRQH39&VKRZQRQWKH
$GYDQFHG:$16HWXSVFUHHQ1$7LVQRWDQDYDLODEOHRSWLRQLQ%ULGJHPRGH
9LUWXDO6HUYHUV
9LUWXDO6HUYHUVDOORZ\RXWRGLUHFWLQFRPLQJWUDIILFIURPWKH:$1VLGHLGHQWLILHG
E\3URWRFRODQG([WHUQDOSRUWWRWKH,QWHUQDOVHUYHUZLWKSULYDWH,3DGGUHVVHVRQ
WKH/$1VLGH 7KH,QWHUQDOSRUWLVUHTXLUHGRQO\LIWKHH[WHUQDOSRUWQHHGVWREH
FRQYHUWHGWRDGLIIHUHQWSRUWQXPEHUXVHGE\WKHVHUYHURQWKH/$1VLGH
$PD[LPXPRIHQWULHVFDQEHFRQILJXUHG
7RDGGD9LUWXDO6HUYHUFOLFNWKH$GGEXWWRQ 7KHIROORZLQJZLOOEHGLVSOD\HG
6HOHFWD6HUYLFH
2U
&XVWRP6HUYHU
8VHUVKRXOGVHOHFWWKHVHUYLFHIURPWKHOLVW
2U
8VHUFDQHQWHUWKHQDPHRIWKHLUFKRLFH
6HUYHU,3$GGUHVV (QWHUWKH,3DGGUHVVIRUWKHVHUYHU
([WHUQDO3RUW6WDUW (QWHUWKHVWDUWLQJH[WHUQDOSRUWQXPEHUZKHQ\RX
VHOHFW&XVWRP6HUYHU :KHQDVHUYLFHLVVHOHFWHGWKH
SRUWUDQJHVDUHDXWRPDWLFDOO\FRQILJXUHG
([WHUQDO3RUW(QG (QWHUWKHHQGLQJH[WHUQDOSRUWQXPEHUZKHQ\RX
VHOHFW&XVWRP6HUYHU :KHQDVHUYLFHLVVHOHFWHGWKH
SRUWUDQJHVDUHDXWRPDWLFDOO\FRQILJXUHG
3URWRFRO 8VHUFDQVHOHFWIURP7&37&38'3RU8'3
,QWHUQDO3RUW6WDUW (QWHUWKHLQWHUQDOSRUWVWDUWLQJQXPEHUZKHQ\RX
VHOHFW&XVWRP6HUYHU :KHQDVHUYLFHLVVHOHFWHGWKH
SRUWUDQJHVDUHDXWRPDWLFDOO\FRQILJXUHG
,QWHUQDO3RUW(QG (QWHUWKHLQWHUQDOSRUWHQGLQJQXPEHUZKHQ\RXVHOHFW
&XVWRP6HUYHU :KHQDVHUYLFHLVVHOHFWHGWKHSRUW
UDQJHVDUHDXWRPDWLFDOO\FRQILJXUHG
5HPRWH,37KH,3DGGUHVVRIWKHUHPRWHKRVW
3RUW7ULJJHULQJ
6RPHDSSOLFDWLRQVUHTXLUHWKDWVSHFLILFSRUWVLQWKHILUHZDOOEHRSHQHGIRUDFFHVV
E\WKHUHPRWHSDUWLHV 3RUW7ULJJHUG\QDPLFDOO\RSHQVXSWKH2SHQ3RUWVLQWKH
ILUHZDOOZKHQDQDSSOLFDWLRQRQWKH/$1LQLWLDWHVD7&38'3FRQQHFWLRQWRD
UHPRWHSDUW\XVLQJWKH7ULJJHULQJ3RUWV 7KHURXWHUDOORZVWKHUHPRWHSDUW\
IURPWKH:$1VLGHWRHVWDEOLVKQHZFRQQHFWLRQVEDFNWRWKHDSSOLFDWLRQRQWKH
/$1VLGHXVLQJWKH2SHQ3RUWV $PD[LPXPRIHQWULHVFDQEHFRQILJXUHG
7RDGGD7ULJJHU3RUWFOLFNWKH$GGEXWWRQ 7KHIROORZLQJVFUHHQZLOOGLVSOD\
'0=+RVW
7KHGHYLFHZLOOIRUZDUG,3SDFNHWVIURPWKH:$1WKDWGRQRWEHORQJWRDQ\RIWKH
DSSOLFDWLRQVFRQILJXUHGLQWKH9LUWXDO6HUYHUVWDEOHWRWKH'0=KRVWFRPSXWHU
(QWHUWKHFRPSXWHUV,3DGGUHVVDQGFOLFN$SSO\WRDFWLYDWHWKH'0=KRVW
&OHDUWKH,3DGGUHVVILHOGDQGFOLFN$SSO\WRGHDFWLYDWHWKH'0=KRVW
6HOHFWDQ$SSOLFDWLRQ
RU
&XVWRP$SSOLFDWLRQ
8VHUVKRXOGVHOHFWWKHDSSOLFDWLRQIURPWKHOLVW
RU
8VHUFDQHQWHUWKHQDPHRIWKHLUFKRLFH
7ULJJHU3RUW6WDUW (QWHUWKHVWDUWLQJWULJJHUSRUWQXPEHUZKHQ\RXVHOHFW
FXVWRPDSSOLFDWLRQ :KHQDQDSSOLFDWLRQLVVHOHFWHG
WKHSRUWUDQJHVDUHDXWRPDWLFDOO\FRQILJXUHG
7ULJJHU3RUW(QG (QWHUWKHWULJJHUSRUWHQGQXPEHUIRUFXVWRP
DSSOLFDWLRQ :KHQDQDSSOLFDWLRQLVVHOHFWHGWKHSRUW
UDQJHVDUHDXWRPDWLFDOO\FRQILJXUHG
7ULJJHU3URWRFRO 8VHUFDQVHOHFWIURP7&37&38'3RU8'3
2SHQ3RUW6WDUW (QWHUWKHVWDUWLQJRSHQSRUWQXPEHUZKHQ\RXVHOHFW
FXVWRPDSSOLFDWLRQ :KHQDQDSSOLFDWLRQLVVHOHFWHG
WKHSRUWUDQJHVDUHDXWRPDWLFDOO\FRQILJXUHG
2SHQ3RUW(QG (QWHUWKHRSHQSRUWHQGQXPEHUIRUFXVWRP
DSSOLFDWLRQ :KHQDQDSSOLFDWLRQLVVHOHFWHGWKHSRUW
UDQJHVDUHDXWRPDWLFDOO\FRQILJXUHG
2SHQ3URWRFRO 8VHUFDQVHOHFWIURP7&37&38'3RU8'3
$/*
6,36HVVLRQ,QLWLDWLRQ3URWRFRO5)&LVWKHSURWRFRORIFKRLFHIRUPRVW9R,3
9RLFHRYHU,3GHYLFHVWRLQLWLDWHFRPPXQLFDWLRQ $6,3$/*$SSOLFDWLRQ/D\HU
*DWHZD\DVVLVWV9R,3SDFNHWWUDIILFIURPD6,3FRPSOLDQW,3SKRQHRU9R,3
JDWHZD\WRSDVVWKURXJKD1$7HQDEOHGURXWHU
7RHQDEOHWKH6,3$/*VHOHFWWKH6,3(QDEOHGFKHFNER[DQGFOLFN6DYH$SSO\
127( $/*LVRQO\YDOLGIRU6,3SURWRFROUXQQLQJRQ8'3SRUW
6HFXULW\
7RGLVSOD\WKLVRSWLRQWKH)LUHZDOOFKHFNER[PXVWEHHQDEOHGLQDWOHDVWRQH39&
VKRZQRQWKH$GYDQFHG:$16HWXSVFUHHQ
127( )RUDPRUHWHFKQLFDOGLVFXVVLRQRIWKLVWRSLFVHH$SSHQGL[$6HFXULW\
0$&)LOWHULQJ
127(7KLVIXQFWLRQLVRQO\DYDLODEOHZKHQLQEULGJHPRGH 2WKHUFRQQHFWLRQ
PRGHVHJ333R(XVH,3)LOWHULQJSJZKLFKSHUIRUPVDVLPLODU
IXQFWLRQ
(DFKQHWZRUNGHYLFHKDVDXQLTXHELW0$&DGGUHVV 7KLVFDQEHXVHGWRILOWHU
EORFNRUIRUZDUGSDFNHWVEDVHGRQWKHRULJLQDWLQJGHYLFH0$&ILOWHULQJSROLF\
DQGUXOHVIRUWKH&7FDQEHVHWDFFRUGLQJWRWKHIROORZLQJSURFHGXUH
7KH)25:$5'('SROLF\PHDQVWKDWDOO0$&OD\HUIUDPHVZLOOEH)25:$5'('
H[FHSWWKRVHPDWFKLQJWKHUXOHVVSHFLILHGLQWKHIROORZLQJWDEOH %/2&.('
PHDQVWKDWDOO0$&OD\HUIUDPHVZLOOEH%/2&.('H[FHSWWKRVHPDWFKLQJWKH
UXOHVVSHFLILHGLQWKHIROORZLQJWDEOH 7KHGHIDXOWSROLF\LV)25:$5'(' 7KLV
FDQEHFKDQJHGE\FOLFNLQJWKH&KDQJH3ROLF\EXWWRQ
&KRRVH$GGRU5HPRYHWRFRQILJXUH0$&ILOWHULQJUXOHV 7KHIROORZLQJVFUHHQ
ZLOODSSHDUZKHQ\RXFOLFN$GG &UHDWHDILOWHUWRLGHQWLI\WKH0$&OD\HUIUDPHV
E\VSHFLI\LQJDWOHDVWRQHFRQGLWLRQEHORZ ,IPXOWLSOHFRQGLWLRQVDUHVSHFLILHG
DOORIWKHPPXVWEHPHW &OLFN6DYH$SSO\WRVDYHDQGDFWLYDWHWKHILOWHUUXOH
)LHOG'HVFULSWLRQ
3URWRFRO7\SH 333R(,3Y,3Y$SSOH7DON,3;1HW%(8,,*03
'HVWLQDWLRQ0$&$GGUHVV 'HILQHVWKHGHVWLQDWLRQ0$&DGGUHVV
6RXUFH0$&$GGUHVV 'HILQHVWKHVRXUFH0$&DGGUHVV
)UDPH'LUHFWLRQ 6HOHFWWKHLQFRPLQJRXWJRLQJSDFNHWLQWHUIDFH
:$1,QWHUIDFHV $SSOLHVILOWHUWRVHOHFWHG39&VEULGJHPRGHRQO\
)LOWHUUXOHVDUHDUUDQJHGDFFRUGLQJWR39&DVVKRZQ
XQGHUWKH93,9&,KHDGLQJRQWKHSUHYLRXVVFUHHQ
,3)LOWHULQJ
7KLVVFUHHQVHWVILOWHUUXOHVWKDWOLPLW,3WUDIILF2XWJRLQJ,QFRPLQJ 0XOWLSOH
ILOWHUUXOHVFDQEHVHWDQGHDFKDSSOLHVDWOHDVWRQHOLPLWLQJFRQGLWLRQ )RU
LQGLYLGXDO,3SDFNHWVWRSDVVWKHILOWHUDOOFRQGLWLRQVPXVWEHIXOILOOHG
127(7KLVIXQFWLRQLVQRWDYDLODEOHZKHQLQEULGJHPRGH ,QVWHDGRI,3
)LOWHULQJ0$&)LOWHULQJSJSHUIRUPVDVLPLODUIXQFWLRQ
287*2,1*,3),/7(5
7KHGHIDXOWVHWWLQJIRU2XWJRLQJWUDIILFLV$&&(37(' 8QGHUWKLVFRQGLWLRQDOO
RXWJRLQJ,3SDFNHWVWKDWPDWFKWKHILOWHUUXOHVZLOOEH%/2&.('
7RDGGDILOWHULQJUXOHFOLFNWKH$GGEXWWRQ 7KHIROORZLQJVFUHHQZLOOGLVSOD\
&OLFN6DYH$SSO\WRVDYHDQGDFWLYDWHWKHILOWHU
)LHOG'HVFULSWLRQ
)LOWHU1DPH 7KHILOWHUUXOHODEHO
3URWRFRO 7&37&38'38'3RU,&03
6RXUFH,3DGGUHVV (QWHUVRXUFH,3DGGUHVV
6RXUFH6XEQHW0DVN (QWHUVRXUFHVXEQHWPDVN
6RXUFH3RUWSRUWRUSRUWSRUW (QWHUVRXUFHSRUWQXPEHURUSRUWUDQJH
'HVWLQDWLRQ,3DGGUHVV (QWHUGHVWLQDWLRQ,3DGGUHVV
'HVWLQDWLRQ6XEQHW0DVN (QWHUGHVWLQDWLRQVXEQHWPDVN
'HVWLQDWLRQSRUWSRUWRUSRUWSRUW (QWHUGHVWLQDWLRQSRUWQXPEHURUUDQJH
,1&20,1*,3),/7(5
7KHGHIDXOWVHWWLQJIRUDOO,QFRPLQJWUDIILFLV%/2&.(' 8QGHUWKLVFRQGLWLRQ
RQO\WKRVHLQFRPLQJ,3SDFNHWVWKDWPDWFKWKHILOWHUUXOHVZLOOEH$&&(37('
7RDGGDILOWHULQJUXOHFOLFNWKH$GGEXWWRQ 7KHIROORZLQJVFUHHQZLOOGLVSOD\
)RUGHWDLOHGILHOGGHVFULSWLRQVSOHDVHUHIHUHQFHWKH2XWJRLQJ,3)LOWHUWDEOH
8QGHU:$1,QWHUIDFHVVHOHFWWKH39&VURXWLQJPRGHZLWKILUHZDOORQO\ZKHUH
WKHILOWHUUXOHZLOODSSO\ <RXPD\VHOHFWHYHU\39&RUMXVWDVXEVHW )LOWHUUXOHV
DUHDUUDQJHGE\39&DVVKRZQXQGHUWKH93,9&,KHDGLQJRQWKHSUHYLRXVVFUHHQ
&OLFN6DYH$SSO\WRVDYHDQGDFWLYDWHWKHILOWHU
3DUHQWDO&RQWURO
7KLVIHDWXUHUHVWULFWVDFFHVVIURPD/$1GHYLFHWRDQRXWVLGHQHWZRUNWKURXJKWKH
GHYLFHRQVHOHFWHGGD\VDWFHUWDLQWLPHV 0DNHVXUHWRDFWLYDWHWKH,QWHUQHW
7LPHVHUYHUV\QFKURQL]DWLRQDVGHVFULEHGLQVHFWLRQ,QWHUQHW7LPHVRWKDWWKH
VFKHGXOHGWLPHVPDWFK\RXUORFDOWLPH
&OLFN$''WRGLVSOD\WKHIROORZLQJVFUHHQ
6HHEHORZIRUILHOGGHILQLWLRQV 6HOHFWVHWWLQJVDQGFOLFN6DYH$SSO\
)LHOG'HVFULSWLRQ
8VHU1DPH $XVHUGHILQHGODEHOIRUWKLVUHVWULFWLRQ
%URZVHUV0$&$GGUHVV 0$&DGGUHVVRIWKH3&UXQQLQJWKHEURZVHU
2WKHU0$&$GGUHVV 0$&DGGUHVVRIDQRWKHU/$1GHYLFH
'D\VRIWKH:HHN 7KHGD\VWKHUHVWULFWLRQVDSSO\
6WDUW%ORFNLQJ7LPH 7KHWLPHWKHUHVWULFWLRQVVWDUW
(QG%ORFNLQJ7LPH 7KHWLPHWKHUHVWULFWLRQVHQG
85/)LOWHU
7KLVVFUHHQDOORZVIRUWKHFUHDWLRQRIDILOWHUUXOHIRUDFFHVVULJKWVWRZHEVLWHV
EDVHGRQWKHLU85/DGGUHVVDQGSRUWQXPEHU
&OLFN$GGWRGLVSOD\WKHIROORZLQJVFUHHQ
(QWHUWKH85/DGGUHVVDQGSRUWQXPEHUWKHQFOLFN6DYH$SSO\WRDGGWKHHQWU\
WRWKH85/ILOWHU 7KH85/$GGUHVVPXVWEHJLQZLWK³ZZZ´DVVKRZQDERYH
$PD[LPXPRIHQWULHVFDQEHDGGHGWRWKH85/)LOWHUOLVW
7LFNWKH([FOXGHUDGLREXWWRQWRGHQ\DFFHVVWRWKHZHEVLWHVOLVWHG
7LFNWKH,QFOXGHUDGLREXWWRQWRUHVWULFWDFFHVVWRRQO\WKRVHOLVWHGZHEVLWHV
4XDOLW\RI6HUYLFH
127(4R6PXVWEHHQDEOHGLQDWOHDVWRQH39&WRGLVSOD\WKLVRSWLRQ
VHH$GYDQFHG6HWXS:$1IRUGHWDLOHG39&VHWXSLQVWUXFWLRQV
4XHXH0DQDJHPHQW&RQILJXUDWLRQ
4R6DQG'6&30DUNDUHGHILQHGDVIROORZV
4XDOLW\RI6HUYLFH4R6
7KLVSURYLGHVGLIIHUHQWSULRULW\WRGLIIHUHQWXVHUVRUGDWDIORZVRUJXDUDQWHHVD
FHUWDLQOHYHORISHUIRUPDQFHWRDGDWDIORZLQDFFRUGDQFHZLWKUHTXHVWVIURP
4XHXH3ULRULWL]DWLRQ
'HIDXOW'LIIHUHQWLDWHG6HUYLFHV&RGH3RLQW'6&30DUN
7KLVVSHFLILHVWKHSHUKRSEHKDYLRUIRUDJLYHQIORZRISDFNHWVLQWKH,QWHUQHW
3URWRFRO,3KHDGHUWKDWGRQRWPDWFKDQ\RWKHU4R6UXOH
7R (QDEOH4R6WLFNWKHFKHFNER[DQGVHOHFWD'HIDXOW'6&30DUN
&OLFN6DYH$SSO\WRDFWLYDWH4R6
4XHXH&RQILJXUDWLRQ
7KLVIXQFWLRQIROORZVWKH'LIIHUHQWLDWHG6HUYLFHVUXOHRI,34R6 <RXFDQFUHDWHD
QHZ4XHXHHQWU\E\FOLFNLQJWKH$GGEXWWRQ (QDEOHDQGDVVLJQDQLQWHUIDFHDQG
SUHFHGHQFHRQWKHQH[WVFUHHQ&OLFN6DYH5HERRWRQWKLVVFUHHQWRDFWLYDWHLW
&OLFN$GGWRGLVSOD\WKHIROORZLQJVFUHHQ
4XHXH&RQILJXUDWLRQ6WDWXV(QDEOH'LVDEOHWKH4XHXHHQWU\
4XHXH $VVLJQWKHHQWU\WRDVSHFLILFQHWZRUNLQWHUIDFH4R6PXVWEHHQDEOHG
4XHXH3UHFHGHQFH&RQILJXUHSUHFHGHQFHIRUWKH4XHXHHQWU\/RZHULQWHJHU
YDOXHVIRUSUHFHGHQFHLPSO\KLJKHUSULRULW\IRUWKLVHQWU\UHODWLYHWRRWKHUV
4R6&ODVVLILFDWLRQ
7KHQHWZRUNWUDIILFFODVVHVDUHOLVWHGLQWKLVIRUPDW
&OLFN$GGWRFRQILJXUHQHWZRUNWUDIILFFODVVHV
7KLVVFUHHQFUHDWHVDWUDIILFFODVVUXOHWRFODVVLI\WKHXSVWUHDPWUDIILFDVVLJQ
TXHXLQJSULRULW\DQGRSWLRQDOO\RYHUZULWHWKH,3KHDGHU726E\WH $UXOHFRQVLVWV
RIDFODVVQDPHDQGDWOHDVWRQHFRQGLWLRQIURPHLWKHU6(7RU6(7$OOWKH
FRQGLWLRQVVSHFLILHGLQWKHUXOHPXVWEHVDWLVILHGIRULWWRWDNHHIIHFW
&OLFN6DYH$SSO\WRVDYHDQGDFWLYDWHWKHUXOH
)LHOG'HVFULSWLRQ
7UDIILF&ODVV1DPH (QWHUDQDPHIRUWKHWUDIILFFODVV
5XOH2UGHU /DVWRUQXOODUHWKHRQO\RSWLRQV
5XOH6WDWXV 'LVDEOHRUHQDEOHWKHUXOH
$VVLJQ&ODVVLILFDWLRQ
4XHXH
7KHTXHXHFRQILJXUDWLRQVDUHSUHVHQWHGLQWKLVIRUPDW
³,QWHUIDFHQDPH3UHFH34XHXH4´ZKHUH3DQG4DUHWKH
3UHFHGHQFHDQG4XHXH.H\YDOXHVIRUWKHFRUUHVSRQGLQJ
,QWHUIDFHDVOLVWHGRQWKH4XHXH&RQILJVFUHHQ
$VVLJQ'LIIHUHQWLDWHG
6HUYLFHV&RGH3RLQW
'6&30DUN
7KHVHOHFWHG&RGH3RLQWJLYHVWKHFRUUHVSRQGLQJSULRULW\WR
WKHSDFNHWVWKDWVDWLVILHVWKHUXOHVVHWEHORZ
0DUNSLI
TLVHQDEOHG
6HOHFWEHWZHHQ 7KHORZHUWKHGLJLWVKRZVWKHKLJKHU
WKHSULRULW\
6(7
3K\VLFDO/$13RUW 6HOHFWEHWZHHQ(1(7:LUHOHVVDQG:LUHOHVVB*XHVW
3URWRFRO 7&37&38'38'3RU,&03
'LIIHUHQWLDWHG
6HUYLFHV&RGH3RLQW
'6&3&KHFN
7KHVHOHFWHG&RGH3RLQWJLYHVWKHFRUUHVSRQGLQJSULRULW\WR
WKHSDFNHWVWKDWVDWLVILHVWKHUXOHVVHWEHORZ
6WDWLF,3RU'+&3,'
GURSGRZQER[
6HOHFW,3$GGUHVV9HQGRU&ODVV,''+&32SWLRQRU
8VHU&ODVV,''+&32SWLRQ
6RXUFH,3$GGUHVV (QWHUWKHVRXUFH,3DGGUHVV
6RXUFH6XEQHW0DVN (QWHUWKHVXEQHWPDVNIRUWKHVRXUFH,3DGGUHVV
8'37&36RXUFH3RUW
SRUWRUSRUWSRUW
(QWHUVRXUFHSRUWQXPEHURUSRUWUDQJH
'HVWLQDWLRQ,3
DGGUHVV
(QWHUGHVWLQDWLRQ,3DGGUHVV
'HVWLQDWLRQ6XEQHW
0DVN
(QWHUGHVWLQDWLRQVXEQHWPDVN
8'37&3'HVWLQDWLRQ
3RUWSRUWRU
SRUWSRUW
(QWHUGHVWLQDWLRQSRUWQXPEHURUSRUWUDQJH
6RXUFH0$&$GGUHVV $SDFNHWEHORQJVWR6(7LIDELQDU\$1'RILWVVRXUFH
0$&DGGUHVVZLWKWKH6RXUFH0$&0DVNLVHTXDOWRWKH
ELQDU\$1'RIWKH6RXUFH0$&0DVNDQGWKLVILHOG
6RXUFH0$&0DVN 7KLVLVWKHPDVNXVHGWRGHFLGHKRZPDQ\ELWVDUH
FKHFNHGLQ6RXUFH0$&$GGUHVV
'HVWLQDWLRQ0$&
$GGUHVV
$SDFNHWEHORQJVWR6(7WKHQWKHUHVXOWWKDWWKH
'HVWLQDWLRQ0$&$GGUHVVRILWVKHDGHUELQDU\$1'WRWKH
'HVWLQDWLRQ0$&0DVNPXVWHTXDOWRWKHUHVXOWWKDWWKLV
ILHOGELQDU\$1'WRWKH'HVWLQDWLRQ0$&0DVN
'HVWLQDWLRQ0$&
0DVN
7KLVLVWKHPDVNXVHGWRGHFLGHKRZPDQ\ELWVDUH
FKHFNHGLQ'HVWLQDWLRQ0$&$GGUHVV
6(7
S3ULRULW\ 6HOHFWEHWZHHQ 7KHORZHUWKHGLJLWVKRZVWKHKLJKHU
WKHSULRULW\
5RXWLQJ
7KLVRSWLRQDOORZVIRU'HIDXOW*DWHZD\6WDWLF5RXWHDQG5,3FRQILJXUDWLRQ
127( ,QEULGJHPRGHWKH5,3VFUHHQLVKLGGHQZKLOHWKH'HIDXOW*DWHZD\DQG
6WDWLF5RXWHFRQILJXUDWLRQVFUHHQVDUHVKRZQEXWLQHIIHFWLYH
'HIDXOW*DWHZD\
,IWKH(1$%/($8720$7,&$66,*1(''()$8/7*$7(:$<FKHFNER[LV
VHOHFWHGWKLVGHYLFHZLOODFFHSWWKHILUVWUHFHLYHGGHIDXOWJDWHZD\DVVLJQPHQW
IURPRQHRIWKHHQDEOHGURXWLQJ39&V ,IWKHFKHFNER[LVQRWVHOHFWHGHQWHU
WKHVWDWLFGHIDXOWJDWHZD\DQGRU:$1LQWHUIDFH &OLFN6DYH$SSO\EXWWRQWR
VDYHLW
127( $IWHUHQDEOLQJWKH$XWRPDWLF$VVLJQHG'HIDXOW*DWHZD\WKHGHYLFH
PXVWEHUHERRWHGWRDFWLYDWHWKHDVVLJQHGGHIDXOWJDWHZD\
6WDWLF5RXWH
7KH6WDWLF5RXWHVFUHHQOLVWVWKHFRQILJXUHGVWDWLFURXWHV
&OLFNLQJWKH$GGEXWWRQGLVSOD\VWKHIROORZLQJVFUHHQ
(QWHU'HVWLQDWLRQ1HWZRUN$GGUHVV6XEQHW0DVN*DWHZD\,3$GGUHVVDQGRU
:$1,QWHUIDFH 7KHQFOLFN6DYH$SSO\WRDGGWKHHQWU\WRWKHURXWLQJWDEOH
5,3
7R D FWLYDWHWKLVRSWLRQVHOHFWWKH(QDEOHGUDGLREXWWRQIRU*OREDO5,30RGH
7R FRQILJXUHDQLQGLYLGXDOLQWHUIDFHVHOHFWWKHGHVLUHG5,3YHUVLRQDQGRSHUDWLRQ
IROORZHGE\SODFLQJDFKHFNLQWKH(QDEOHGFKHFNER[IRUWKHLQWHUIDFH &OLFNWKH
6DYH$SSO\EXWWRQWRVDYHWKHFRQILJXUDWLRQDQGWRVWDUWRUVWRS5,3EDVHGRQ
WKH*OREDO5,3PRGHVHOHFWHG
'16
'166HUYHU
,IWKH(QDEOH$XWRPDWLF$VVLJQHG'16FKHFNER[LVVHOHFWHGWKLVGHYLFHZLOO
DFFHSWWKHILUVWUHFHLYHG'16DVVLJQPHQWIURPRQHRIWKH'+&3HQDEOHG39&V±
333R$333R(RU0(5GXULQJWKHFRQQHFWLRQHVWDEOLVKPHQW ,IWKHFKHFNER[LV
QRWVHOHFWHGHQWHUWKHSULPDU\DQGRSWLRQDOVHFRQGDU\'16VHUYHU,3DGGUHVVHV
127(&OLFNWKH6DYHEXWWRQWRVDYHWKHQHZFRQILJXUDWLRQ 5HPHPEHUWKH
GHYLFHPXVWEHUHERRWHGWRPDNHWKHQHZFRQILJXUDWLRQHIIHFWLYH
'\QDPLF'16
7KH'\QDPLF'16VHUYLFHDOORZVDG\QDPLF,3DGGUHVVWREHDOLDVHGWRDVWDWLF
KRVWQDPHLQDQ\RIPDQ\GRPDLQVDOORZLQJWKH&7WREHPRUHHDVLO\
DFFHVVHGIURPYDULRXVORFDWLRQVRQWKH,QWHUQHW
7RDGGDG\QDPLF'16VHUYLFHFOLFNWKH$GGEXWWRQDQGWKLVVFUHHQZLOOGLVSOD\
)LHOG'HVFULSWLRQ
''16SURYLGHU 6HOHFWDG\QDPLF'16SURYLGHUIURPWKHOLVW
+RVWQDPH (QWHUWKHQDPHIRUWKHG\QDPLF'16VHUYHU
,QWHUIDFH 6HOHFWWKHLQWHUIDFHIURPWKHOLVW
8VHUQDPH (QWHUWKHXVHUQDPHIRUWKHG\QDPLF'16VHUYHU
3DVVZRUG (QWHUWKHSDVVZRUGIRUWKHG\QDPLF'16VHUYHU
'6/
7KH'6/6HWWLQJVVFUHHQDOORZVIRUWKHVHOHFWLRQRI'6/PRGXODWLRQPRGHV )RU
RSWLPXPSHUIRUPDQFHWKHPRGHVVHOHFWHGVKRXOGPDWFKWKRVHRI\RXU,63
'6/0RGH'DWD7UDQVPLVVLRQ5DWH0ELWV0HJDELWVSHUVHFRQG
*'PW 'RZQVWUHDP0ELWV 8SVWUHDP0ELWV
*OLWH 'RZQVWUHDP 0ELWV 8SVWUHDP0ELWV
7 'RZQVWUHDP 0ELWV 8SVWUHDP0ELWV
$'6/ 'RZQVWUHDP0ELWV 8SVWUHDP0ELWV
$QQH[/ 6XSSRUWVORQJHUORRSVEXWZLWKUHGXFHGWUDQVPLVVLRQUDWHV
$'6/ 'RZQVWUHDP0ELWV 8SVWUHDP0ELWV
$QQH[0 'RZQVWUHDP0ELWV 8SVWUHDP0ELWV
2SWLRQV'HVFULSWLRQ
%LWVZDS(QDEOH (QDEOHVDGDSWLYHKDQGVKDNLQJIXQFWLRQDOLW\
65$(QDEOH (QDEOHV6HDPOHVV5DWH$GDSWDWLRQ65$
,QWHUIDFH*URXS
,QWHUIDFH*URXSVXSSRUWVPXOWLSOHSRUWWR39&DQGEULGJLQJJURXSV (DFKJURXS
ZLOOSHUIRUPDVDQLQGHSHQGHQWQHWZRUN 7RVXSSRUWWKLVIHDWXUH\RXPXVW
FUHDWHPDSSLQJJURXSVZLWKDSSURSULDWH/$1DQG:$1LQWHUIDFHVXVLQJWKH$GG
EXWWRQ 7KH5HPRYHEXWWRQZLOOUHPRYHWKHJURXSLQJDQGDGGWKHXQJURXSHG
LQWHUIDFHVWRWKH'HIDXOWJURXS
$VVKRZQLQWKHVHWZRILJXUHVZKHQ\RXWLFNWKH(QDEOHYLUWXDOSRUWVRQWKH
/$1LQWHUIDFHV(1(7LQWKHILUVWILJXUHZLOOVHSDUDWHLQWRIRXUYLUWXDOSRUWV
7RDGGDQ,QWHUIDFH*URXSFOLFNWKH$GGEXWWRQ
7R FUHDWHDJURXSIURPWKHOLVWILUVWHQWHUWKHJURXSQDPHDQGWKHQVHOHFWIURP
WKHDYDLODEOHLQWHUIDFHVRQWKHOLVW
$XWRPDWLFDOO\$GG&OLHQWV:LWKWKH)ROORZLQJ'+&39HQGRU,'V
$GGVXSSRUWWRDXWRPDWLFDOO\PDS/$1LQWHUIDFHVWR39&VXVLQJ'+&3YHQGRU,'
RSWLRQ7KHORFDO'+&3VHUYHUZLOOGHFOLQHDQGVHQGWKHUHTXHVWVWRDUHPRWH
'+&3VHUYHUE\PDSSLQJWKHDSSURSULDWH/$1LQWHUIDFH7KLVLVWXUQHGRQZKHQ
,QWHUIDFH*URXSLQJLVHQDEOHG
7KHUHDUHIRXU39&V93,9&,LVIRU333R(DQGWKH
RWKHUVDUHIRU,3VHWXSER[ 7KH/$1LQWHUIDFHVDUH(7+
,QWHUIDFH*URXSFRQILJXUDWLRQLV
'HIDXOW(1(7(1(7(1(7DQG(1(7
9LGHRQDVBBQDVBBDQGQDVBB7KH'+&3YHQGRU,'LV9LGHR
7KH&3(V'+&3VHUYHUUXQVRQ'HIDXOW ,QDGGLWLRQWKH,63¶V'+&3VHUYHULV
UXQQLQJRQ39&,WLVIRUVHWXSER[XVHRQO\ 2QWKH/$1VLGHWKH3&FDQ
JHWDQ,3DGGUHVVIURPWKH&3(V'+&3VHUYHUDQGDFFHVV,QWHUQHWYLD333R(
,IWKHVHWXSER[ZDVFRQQHFWHGZLWKLQWHUIDFH(1(7DQGVHQWD'+&3UHTXHVW
ZLWKYHQGRULG9LGHRWKH&3(V'+&3VHUYHUZLOOIRUZDUGWKLVUHTXHVWWRWKH
,63V'+&3VHUYHU 7KH&3(ZLOOWKHQFKDQJHWKH,QWHUIDFH*URXSLQJ
FRQILJXUDWLRQDXWRPDWLFDOO\7KH,QWHUIDFH*URXSLQJFRQILJXUDWLRQEHFRPHV
'HIDXOW(1(7(1(7DQG(1(7
9LGHRQDVBBQDVBBQDVBBDQG(1(7
&HUWLILFDWH
$FHUWLILFDWHLVDSXEOLFNH\DWWDFKHGZLWKLWVRZQHU¶VLQIRUPDWLRQFRPSDQ\QDPH
VHUYHUQDPHSHUVRQDOUHDOQDPHFRQWDFWHPDLOSRVWDODGGUHVVHWFDQGGLJLWDO
VLJQDWXUHV 7KHUHZLOOEHRQHRUPRUHGLJLWDOVLJQDWXUHVDWWDFKHGWRWKH
FHUWLILFDWHLQGLFDWLQJWKDWWKHVHHQWLWLHVKDYHYHULILHGWKDWWKLVFHUWLILFDWHLVYDOLG
/RFDO
&(57,),&$7(5(48(67
&OLFN&UHDWH&HUWLILFDWH5HTXHVWWRJHQHUDWHDFHUWLILFDWHVLJQLQJUHTXHVW 7KH
FHUWLILFDWHVLJQLQJUHTXHVWFDQEHVXEPLWWHGWRWKHYHQGRU,63,763WRDSSO\IRUD
FHUWLILFDWH 6RPHLQIRUPDWLRQPXVWEHLQFOXGHGLQWKHFHUWLILFDWHVLJQLQJUHTXHVW
<RXUYHQGRU,63,763ZLOODVNIRUWKLVLQIRUPDWLRQLIQHFHVVDU\
&OLFN$SSO\WRJHQHUDWHDSULYDWHNH\DQGDFHUWLILFDWHVLJQLQJUHTXHVW
)LHOG'HVFULSWLRQ
&HUWLILFDWH1DPH $XVHUGHILQHGQDPHIRUWKHFHUWLILFDWH
&RPPRQ1DPH 8VXDOO\LWLVWKHIXOO\TXDOLILHGGRPDLQQDPHIRUWKH
PDFKLQH
2UJDQL]DWLRQ1DPH 7KHH[DFWOHJDOQDPHRI\RXURUJDQL]DWLRQ 'RQRW
DEEUHYLDWH
6WDWH3URYLQFH
1DPH
7KHVWDWHRUSURYLQFHZKHUH\RXURU
J
DQL]DWLRQLVORFDWHG
,WFDQQRWEHDEEUHYLDWHG
&RXQWU\5HJLRQ
1DPH
7KHWZROHWWHU,62DEEUHYLDWLRQIRU\RXUFRXQWU\
,03257&(57,),&$7(
&OLFN,PSRUW&HUWLILFDWHWRSDVWHWKHFHUWLILFDWHFRQWHQWDQGSULYDWHNH\
SURYLGHGE\\RXUYHQGRU,63,763
7UXVWHG&$
&HUWLILFDWH$XWKRULW\&$LVSDUWRIWKH;DXWKHQWLFDWLRQV\VWHP ,WLVLWVHOID
FHUWLILFDWHDWWDFKHGZLWKWKHRZQHULQIRUPDWLRQRIWKHFHUWLILFDWHDXWKRULW\EXWLWV
SXUSRVHLVQRWHQFU\SWLRQGHFU\SWLRQLQVWHDGLWYDOLGDWHVRWKHUFHUWLILFDWHV
&OLFN,PSRUW&HUWLILFDWHWRSDVWHWKHFHUWLILFDWHFRQWHQWRI\RXUWUXVWHG&$
7KHFHUWLILFDWHFRQWHQWZLOOEHSURYLGHGE\\RXUYHQGRU,63,763DQGLVXVHGWR
DXWKHQWLFDWHWKH$XWR&RQILJXUDWLRQ6HUYHU$&6WKDWWKH&3(ZLOOFRQQHFWWR
&KDSWHU:LUHOHVV
7KH:LUHOHVVPHQXSURYLGHVDFFHVVWRWKHZLUHOHVVRSWLRQVGLVFXVVHGEHORZ
%DVLF
7KH%DVLFRSWLRQDOORZV\RXWRFRQILJXUHEDVLFIHDWXUHVRIWKHZLUHOHVV/$1
LQWHUIDFH<RXFDQHQDEOHRUGLVDEOHWKHZLUHOHVV/$1LQWHUIDFHKLGHWKHQHWZRUN
IURPDFWLYHVFDQVVHWWKHZLUHOHVVQHWZRUNQDPHDOVRNQRZQDV66,'DQG
UHVWULFWWKHFKDQQHOVHWEDVHGRQFRXQWU\UHTXLUHPHQWV
&OLFN6DYH$SSO\WRDSSO\WKHVHOHFWHGZLUHOHVVRSWLRQV
&RQVXOWWKHWDEOHEHORZIRUGHVFULSWLRQVRIWKHVHRSWLRQV
2SWLRQ'HVFULSWLRQ
(QDEOH
:LUHOHVV
$FKHFNER[WKDWHQDEOHVRUGLVDEOHVWKHZLUHOHVV/$1LQWHUIDFH
:KHQVHOHFWHGWKH:HE8,GLVSOD\V+LGH$FFHVVSRLQW66,'DQG
&RXQW\VHWWLQJV
+LGH$FFHVV
3RLQW
6HOHFW+LGH$FFHVV3RLQWWRSURWHFWWKHDFFHVVSRLQWIURPGHWHFWLRQ
E\ZLUHOHVVDFWLYHVFDQV,I\RXGRQRWZDQWWKHDFFHVVSRLQWWREH
DXWRPDWLFDOO\GHWHFWHGE\DZLUHOHVVVWDWLRQWKLVFKHFNER[VKRXOG
EHGHVHOHFWHG 7KHVWDWLRQZLOOQRWGLVFRYHUWKLVDFFHVVSRLQW7R
FRQQHFWDVWDWLRQWRWKHDYDLODEOHDFFHVVSRLQWVWKHVWDWLRQPXVW
PDQXDOO\DGGWKLVDFFHVVSRLQWQDPHLQLWVZLUHOHVVFRQILJXUDWLRQ
,Q:LQGRZV;3JRWRWKH1HWZRUNÆ3URJUDPVIXQFWLRQWRYLHZDOO
RIWKHDYDLODEOHDFFHVVSRLQWV <RXFDQDOVRXVHRWKHUVRIWZDUH
SURJUDPVVXFKDV1HW6WXPEOHUWRYLHZDYDLODEOHDFFHVVSRLQWV
&OLHQWV
,VRODWLRQ
3UHYHQWVFOLHQWV3&IURPVHHLQJRQHDQRWKHULQ0\1HWZRUN
3ODFHVRU1HWZRUN1HLJKERUKRRG
3UHYHQWVRQHZLUHOHVVFOLHQWFRPPXQLFDWLQJZLWKDQRWKHU
ZLUHOHVVFOLHQW
'LVDEOH
:00
6WRSVWKHURXWHUIURPµDGYHUWLVLQJ¶LWV:LUHOHVV0XOWLPHGLD:00
IXQFWLRQDOLW\ZKLFKSURYLGHVEDVLFTXDOLW\RIVHUYLFHIRU
$GYHUWLVH WLPHVHQVLWLYHDSSOLFDWLRQVHJ9R,39LGHR
ZLUHOHVVVRIWZDUHYHUVLRQDQGDERYH
66,' 6HWVWKHZLUHOHVVQHWZRUNQDPH 66,'VWDQGVIRU6HUYLFH6HW
,GHQWLILHU $OOVWDWLRQVPXVWEHFRQILJXUHGZLWKWKHFRUUHFW66,'WR
DFFHVVWKH:/$1 ,IWKH66,'GRHVQRWPDWFKWKDWXVHUZLOOQRW
EHJUDQWHGDFFHVV 7KHQDPLQJFRQYHQWLRQVDUH0LQLPXPLVRQH
FKDUDFWHUDQGPD[LPXPQXPEHURIFKDUDFWHUVE\WHV
%66,' 7KH%66,'LVDELWLGHQWLW\XVHGWRLGHQWLI\DSDUWLFXODU%66
%DVLF6HUYLFH6HWZLWKLQDQDUHD,Q,QIUDVWUXFWXUH%66QHWZRUNV
WKH%66,'LVWKH0$&0HGLXP$FFHVV&RQWURODGGUHVVRIWKH$3
$FFHVV3RLQWDQGLQ,QGHSHQGHQW%66RUDGKRFQHWZRUNVWKH
%66,'LVJHQHUDWHGUDQGRPO\
&RXQWU\ $GURSGRZQPHQXWKDWSHUPLWVZRUOGZLGHDQGVSHFLILFQDWLRQDO
VHWWLQJV (DFKFRXQW\OLVWHGLQWKHPHQXHQIRUFHVVSHFLILF
UHJXODWLRQVOLPLWLQJFKDQQHOUDQJH
86 ZRUOGZLGH-DSDQ -RUGDQ ,VUDHO
0D[&OLHQWV 7KHPD[LPXPQXPEHURIFOLHQWVWKDWFDQDFFHVVWKHURXWHU
6HFXULW\
:,5(/(666(&85,7<
7KHZLUHOHVVVHFXULW\VFUHHQVKRZQEHORZDOORZVIRUFRQILJXUDWLRQRIZLUHOHVV
VHFXULW\VHWWLQJVDFFRUGLQJWR:L)L6LPSOH&RQILJXUDWLRQ:6&RU0DQXDO6HWXS
PHWKRGV 7KH:6&PHWKRGDXWRPDWLFDOO\FRQILJXUHVVHFXULW\VHWWLQJVXVLQJ
:L)L3URWHFWHG6HWXS:36 ,QFRPSDULVRQWKH0DQXDOPHWKRGUHTXLUHVWKH
XVHUWRVHOHFWDQGHQWHUDOOWKHVHVHWWLQJVIRUHYHU\GHYLFHRQWKH:/$1
0DQXDO6HWXS$3VHWWLQJVDUHGHVFULEHGLQWKHWDEOHEHORZ
6HOHFW66,'
6HWVWKHZLUHOHVVQHWZRUNQDPH 66,'VWDQGVIRU6HUYLFH6HW,GHQWLILHU $OO
VWDWLRQVPXVWEHFRQILJXUHGZLWKWKHFRUUHFW66,'WRDFFHVVWKH:/$1 ,IWKH
66,'GRHVQRWPDWFKWKDWXVHUZLOOQRWEHJUDQWHGDFFHVV SURWRFROV
VXSSRUWWZRW\SHVRIQHWZRUNDXWKHQWLFDWLRQVHUYLFHVRSHQV\VWHPDQGVKDUHG
NH\
8QGHURSHQV\VWHPDXWKHQWLFDWLRQDQ\ZLUHOHVVVWDWLRQFDQUHTXHVW
DXWKHQWLFDWLRQ 7KHV\VWHPWKDWQHHGVWRDXWKHQWLFDWHZLWKDQRWKHUZLUHOHVV
VWDWLRQVHQGVDQDXWKHQWLFDWLRQPDQDJHPHQWIUDPHWKDWFRQWDLQVWKHLGHQWLW\RI
WKHVHQGLQJVWDWLRQ 7KHUHFHLYLQJVWDWLRQWKHQVHQGVEDFNDIUDPHWKDW
LQGLFDWHVZKHWKHULWUHFRJQL]HVWKHLGHQWLW\RIWKHVHQGLQJVWDWLRQ
1HWZRUN$XWKHQWLFDWLRQ
7KLVRSWLRQVSHFLILHVZKHWKHUDQHWZRUNNH\LVXVHGIRUDXWKHQWLFDWLRQWRWKH
ZLUHOHVVQHWZRUN ,IQHWZRUNDXWKHQWLFDWLRQLVVHWWR2SHQWKHQQR
DXWKHQWLFDWLRQLVSURYLGHG 'HVSLWHWKLVWKHLGHQWLW\RIWKHFOLHQWLVVWLOOYHULILHG
(DFKDXWKHQWLFDWLRQW\SHKDVLWVRZQVHWWLQJV )RUH[DPSOHVHOHFWLQJ;
DXWKHQWLFDWLRQZLOOUHYHDOWKH5$',866HUYHU,3DGGUHVV3RUWDQG.H\ILHOGV
:(3(QFU\SWLRQZLOODOVREHHQDEOHGDVVKRZQEHORZ
7KHVHWWLQJVIRU:3$DXWKHQWLFDWLRQDUHVKRZQEHORZ
7KHVHWWLQJVIRU:3$36.DXWKHQWLFDWLRQDUHVKRZQEHORZ
:(3(QFU\SWLRQ
7KLVRSWLRQVSHFLILHVZKHWKHUGDWDVHQWRYHUWKHQHWZRUNLVHQFU\SWHG 7KHVDPH
QHWZRUNNH\LVXVHGIRUGDWDHQFU\SWLRQDQGQHWZRUNDXWKHQWLFDWLRQ)RXU
QHWZRUNNH\VFDQEHGHILQHGDOWKRXJKRQO\RQHFDQEHXVHGDWDQ\RQHWLPH
8VHWKH&XUUHQW1HWZRUN.H\OLVWER[WRVHOHFWWKHDSSURSULDWHQHWZRUNNH\
(QFU\SWLRQ6WUHQJWK
7KLVGURSGRZQOLVWER[ZLOOGLVSOD\ZKHQ:(3(QFU\SWLRQLVHQDEOHG
7KHNH\VWUHQJWKLVSURSRUWLRQDOWRWKHQXPEHURIELQDU\ELWVFRPSULVLQJWKHNH\
7KLVPHDQVWKDWNH\VZLWKDJUHDWHUQXPEHURIELWVKDYHDJUHDWHUGHJUHHRI
VHFXULW\DQGDUHFRQVLGHUDEO\PRUHGLIILFXOWWRFUDFN (QFU\SWLRQVWUHQJWKFDQEH
VHWWRHLWKHUELWRUELW $ELWNH\LVHTXLYDOHQWWR$6&,,FKDUDFWHUV
RUKH[DGHFLPDOQXPEHUV $ELWNH\FRQWDLQV$6&,,FKDUDFWHUVRU
KH[DGHFLPDOQXPEHUV )<,(DFKNH\FRQWDLQVDELWKHDGHUDQLQLWLDWLRQ
YHFWRUZKLFKHQDEOHVSDUDOOHOGHFRGLQJRIPXOWLSOHVWUHDPVRIHQFU\SWHGGDWD
:36
:L)L3URWHFWHG6HWXS:36LVDQLQGXVWU\VWDQGDUGWKDWVLPSOLILHVZLUHOHVV
VHFXULW\VHWXSIRUFHUWLILHGQHWZRUNGHYLFHV (YHU\:36FHUWLILHGGHYLFHKDVERWK
D3,1QXPEHUDQGDSXVKEXWWRQORFDWHGRQWKHGHYLFHRUDFFHVVHGWKURXJK
GHYLFHVRIWZDUH 7KH&7KDVERWKD:36EXWWRQRQWKHUHDUSDQHODQGD
YLUWXDOEXWWRQDFFHVVHGIURPWKHZHEXVHULQWHUIDFH:8,
'HYLFHVZLWKWKH:36ORJR
VKRZQKHUHVXSSRUW:36
+RZHYHUWKH:36ORJRPLJKW
QRWEHSUHVHQWRQ\RXU
GHYLFH,QWKLVFDVHFKHFN
WKHGHYLFHGRFXPHQWDWLRQIRU
WKHSKUDVH³:L)L3URWHFWHG
6HWXS´
127(:36LVRQO\DYDLODEOHLQ2SHQ:3$36.:3$36.DQG0L[HG
:3$:3$36.QHWZRUNDXWKHQWLFDWLRQPRGHV 2WKHUDXWKHQWLFDWLRQ
PRGHVGRQRWXVH:36VRWKH\PXVWEHFRQILJXUHGPDQXDOO\
7R FRQILJXUHVHFXULW\VHWWLQJVZLWK:36IROORZWKHSURFHGXUHVEHORZ <RXPXVW
FKRRVHHLWKHUWKH3XVK%XWWRQRU3,1FRQILJXUDWLRQPHWKRGIRU6WHSVDQG
,:6&6(783
6WHS(QDEOH:6&E\VHOHFWLQJ(QDEOHGIURPWKHGURSGRZQOLVWER[VKRZQ
6WHS 6HWWKH:6&$30RGH &RQILJXUHGLVXVHGZKHQWKH&7ZLOO
DVVLJQVHFXULW\VHWWLQJVWRFOLHQWV 8QFRQILJXUHGLVXVHGZKHQDQ
H[WHUQDOFOLHQWDVVLJQVVHFXULW\VHWWLQJVWRWKH&7
127(<RXUFOLHQWPD\RUPD\QRWKDYHWKHDELOLW\WRSURYLGHVHFXULW\VHWWLQJV
WRWKH&7 ,ILWGRHVQRWWKHQ\RXPXVWVHWWKH:6&$3PRGHWR
&RQILJXUHG &RQVXOWWKHGHYLFHGRFXPHQWDWLRQWRFKHFNLWVFDSDELOLWLHV
127(,I\RXDUHUXQQLQJ:LQGRZV9LVWD\RXFDQDGGDQH[WHUQDOUHJLVWUDU
XVLQJWKH6WDUW$GG(5EXWWRQ$SSHQGL[(KDVGHWDLOHGLQVWUXFWLRQV
,,1(7:25.$87+(17,&$7,21
6WHS6HOHFW2SHQ:3$36.:3$36.RU0L[HG:3$:3$36.QHWZRUN
DXWKHQWLFDWLRQPRGHIURPWKH0DQXDO6HWXS$3VHFWLRQRIWKH:LUHOHVV
6HFXULW\VFUHHQ 7KHH[DPSOHEHORZVKRZV:3$36.PRGH
6WHS)RUWKH3UH6KDUHG.H\36.PRGHVHQWHUD:3$3UH6KDUHG.H\
<RXZLOOVHHWKHIROORZLQJGLDORJER[LIWKH.H\LVWRRVKRUWRUWRRORQJ
6WHS&OLFNWKH6DYH$SSO\EXWWRQDWWKHERWWRPRIWKHVFUHHQ
,,,$386+%87721&21),*85$7,21
7KH:36SXVKEXWWRQFRQILJXUDWLRQSURYLGHVDVHPLDXWRPDWHGFRQILJXUDWLRQ
PHWKRG 7KH:36EXWWRQRQWKHUHDUSDQHORIWKHURXWHUFDQEHXVHGIRUWKLV
SXUSRVHRUWKH:HE8VHU,QWHUIDFH:8,FDQEHXVHGH[FOXVLYHO\
7KH:36SXVKEXWWRQFRQILJXUDWLRQLVGHVFULEHGLQWKHSURFHGXUHEHORZ ,WLV
DVVXPHGWKDWWKH:LUHOHVVIXQFWLRQLV(QDEOHGDQGWKDWWKHURXWHULVFRQILJXUHGDV
WKH:LUHOHVV$FFHVV3RLQW$3RI\RXU:/$1 ,QDGGLWLRQWKHZLUHOHVVFOLHQW
PXVWDOVREHFRQILJXUHGFRUUHFWO\DQGWXUQHGRQZLWK:36IXQFWLRQHQDEOHG
127( 7KHZLUHOHVV$3RQWKHURXWHUVHDUFKHVIRUPLQXWHV ,IWKHURXWHU
VWRSVVHDUFKLQJEHIRUH\RXFRPSOHWH6WHSUHWXUQWR6WHS
6WHS
VW
PHWKRG:36EXWWRQ
3UHVVWKH:36EXWWRQRQWKHUHDUSDQHORIWKHURXWHU 7KH:36/('
ZLOOEOLQNWRVKRZWKDWWKHURXWHUKDVEHJXQVHDUFKLQJIRUWKHFOLHQW
QG
PHWKRG:8,YLUWXDOEXWWRQ
6HOHFWWKH3XVK%XWWRQUDGLREXWWRQLQWKH:6&6HWXSVHFWLRQRIWKH
6WHS
:LUHOHVV6HFXULW\VFUHHQDVVKRZQLQ$RU%EHORZDQGWKHQFOLFNWKH
DSSURSULDWHEXWWRQEDVHGRQWKH:6&$3PRGHVHOHFWHGLQVWHS
$)RU&RQILJXUHGPRGHFOLFNWKH$GG(QUROOHHEXWWRQ
%)RU8QFRQILJXUHGPRGHFOLFNWKH&RQILJ$3EXWWRQ
6WHS*RWR\RXU:36ZLUHOHVVFOLHQWDQGDFWLYDWHWKHSXVKEXWWRQIXQFWLRQ
$W\SLFDO:36FOLHQWVFUHHQVKRWLVVKRZQEHORZDVDQH[DPSOH
1RZJRWR6WHS3DUW,9&KHFN&RQQHFWLRQWRFKHFNWKH:36FRQQHFWLRQ
,,,%:36±3,1&21),*85$7,21
8VLQJWKLVPHWKRGVHFXULW\VHWWLQJVDUHFRQILJXUHGZLWKDSHUVRQDOLGHQWLILFDWLRQ
QXPEHU3,1 7KH3,1FDQEHIRXQGRQWKHGHYLFHLWVHOIRUZLWKLQWKHVRIWZDUH
7KH3,1PD\EHJHQHUDWHGUDQGRPO\LQWKHODWWHUFDVH 7RREWDLQD3,1QXPEHU
IRU\RXUFOLHQWFKHFNWKHGHYLFHGRFXPHQWDWLRQIRUVSHFLILFLQVWUXFWLRQV
7KH:363,1FRQILJXUDWLRQLVGHVFULEHGLQWKHSURFHGXUHEHORZ ,WLVDVVXPHG
WKDWWKH:LUHOHVVIXQFWLRQLV(QDEOHGDQGWKDWWKHURXWHULVFRQILJXUHGDVWKH
:LUHOHVV$FFHVV3RLQW$3RI\RXUZLUHOHVV/$1 ,QDGGLWLRQWKHZLUHOHVVFOLHQW
PXVWDOVREHFRQILJXUHGFRUUHFWO\DQGWXUQHGRQZLWK:36IXQFWLRQHQDEOHG
127( 8QOLNHWKHSXVKEXWWRQPHWKRGWKHSLQPHWKRGKDVQRVHWWLPHOLPLW
7KLVPHDQVWKDWWKHURXWHUZLOOFRQWLQXHVHDUFKLQJXQWLOLWILQGVDFOLHQW
6WHS6HOHFWWKH3,1UDGLREXWWRQLQWKH:6&6HWXSVHFWLRQRIWKH:LUHOHVV
6HFXULW\VFUHHQDVVKRZQLQ$RU%EHORZDQGWKHQFOLFNWKH
DSSURSULDWHEXWWRQEDVHGRQWKH:6&$3PRGHVHOHFWHGLQVWHS
$)RU&RQILJXUHGPRGHHQWHUWKHFOLHQW3,1LQWKHER[SURYLGHGDQG
WKHQFOLFNWKH$GG(QUROOHHEXWWRQVHHEHORZ
%)RU8QFRQILJXUHGPRGHFOLFNWKH&RQILJ$3EXWWRQ
6WHS$FWLYDWHWKH3,1IXQFWLRQRQWKHZLUHOHVVFOLHQW )RU&RQILJXUHGPRGH
WKHFOLHQWPXVWEHFRQILJXUHGDVDQ(QUROOHH )RU8QFRQILJXUHGPRGH
WKHFOLHQWPXVWEHFRQILJXUHGDVWKH5HJLVWUDU 7KLVLVGLIIHUHQWWKDQ
WKH([WHUQDO5HJLVWUDUIXQFWLRQSURYLGHGLQ:LQGRZV9LVWD
7KHILJXUHEHORZSURYLGHVDQH[DPSOHRID:36FOLHQW3,1IXQFWLRQLQSURJUHVV
1RZJRWR6WHS3DUW,9&KHFN&RQQHFWLRQWRFKHFNWKH:36FRQQHFWLRQ
,9&+(&.&211(&7,21
6WHS,IWKH:36VHWXSPHWKRGZDVVXFFHVVIXO\RXZLOOEHDEOHDFFHVVWKH
ZLUHOHVV$3IURPWKHFOLHQW 7KHFOLHQWVRIWZDUHVKRXOGVKRZWKHVWDWXV
7KHH[DPSOHEHORZVKRZVWKDWWKHFRQQHFWLRQHVWDEOLVKHGVXFFHVVIXOO\
<RXFDQDOVRGRXEOHFOLFNWKH:LUHOHVV1HWZRUN&RQQHFWLRQLFRQIURP
WKH1HWZRUN&RQQHFWLRQVZLQGRZRUWKHV\VWHPWUD\WRFRQILUPWKH
QHZFRQQHFWLRQ ,WVKRXOGORRNVLPLODUWRWKHGLDORJER[VKRZQEHORZ
0$&)LOWHU
7KLVRSWLRQDOORZVDFFHVVWRWKHURXWHUWREHUHVWULFWHGEDVHGXSRQ0$&
DGGUHVVHV (YHU\QHWZRUNGHYLFHKDVDXQLTXHELW0$&DGGUHVV 7KLVLV
XVXDOO\VKRZQDV[[[[[[[[[[[[ZKHUH[[DUHKH[DGHFLPDOQXPEHUV :KHQ
0$&DGGUHVVILOWHULQJLVHQDEOHGLWUHVWULFWVWKHGHYLFHVWKDWFDQFRQQHFWWR\RXU
DFFHVVSRLQW
7RDGGD0$&$GGUHVVILOWHUFOLFNWKH$GGEXWWRQVKRZQEHORZ
7RGHOHWHDILOWHUVHOHFWLWIURPWKHWDEOHEHORZDQGFOLFNWKH5HPRYHEXWWRQ
2SWLRQ'HVFULSWLRQ
0$&
5HVWULFW
0RGH
'LVDEOHG0$&ILOWHULVGLVDEOHG
$OORZ3HUPLWVWKHOLVWHGDGGUHVVHVWRFRQQHFWWRWKHDFFHVVSRLQW$3
'HQ\3UHYHQWVWKHOLVWHGDGGUHVVHVIURPFRQQHFWLQJWRWKH$3
0$&
$GGUHVV
/LVWVWKH0$&DGGUHVVHVVXEMHFWWRWKH0$&5HVWULFW0RGH $
PD[LPXPRI0$&DGGUHVVHVFDQEHDGGHG (YHU\QHWZRUNGHYLFH
KDVDXQLTXHELW0$&DGGUHVV 7KLVLVXVXDOO\VKRZQDV
[[[[[[[[[[[[ZKHUH[[DUHKH[DGHFLPDOQXPEHUV
$IWHUFOLFNLQJWKH$GGEXWWRQWKHIROORZLQJVFUHHQDSSHDUV
(QWHUWKH0$&DGGUHVVLQWKHER[SURYLGHGDQGFOLFN6DYH$SSO\
:LUHOHVV%ULGJH
7KLVVFUHHQDOORZV\RXWRFRQILJXUHZLUHOHVVEULGJHIHDWXUHVRIWKHZLUHOHVV/$1
LQWHUIDFH<RXFDQVHOHFW:LUHOHVV%ULGJHDOVRNQRZQDV:LUHOHVV'LVWULEXWLRQ
6\VWHPWRGLVDEOHDFFHVVSRLQWIXQFWLRQDOLW\6HOHFWLQJ$FFHVV3RLQWHQDEOHV
DFFHVVSRLQWIXQFWLRQDOLW\:LUHOHVVEULGJHIXQFWLRQDOLW\ZLOOVWLOOEHDYDLODEOHDQG
ZLUHOHVVVWDWLRQVZLOOEHDEOHWRDVVRFLDWHWRWKH$36HOHFW'LVDEOHGLQ%ULGJH
5HVWULFWZKLFKGLVDEOHVZLUHOHVVEULGJHUHVWULFWLRQ$Q\ZLUHOHVVEULGJHZLOOEH
JUDQWHGDFFHVV6HOHFWLQJ(QDEOHGRU(QDEOHG6FDQHQDEOHVZLUHOHVVEULGJH
UHVWULFWLRQ2QO\WKRVHEULGJHVVHOHFWHGLQ5HPRWH%ULGJHVZLOOEHJUDQWHGDFFHVV
$GYDQFHG
7KH$GYDQFHGVFUHHQDOORZV\RXWRFRQILJXUHDGYDQFHGIHDWXUHVRIWKHZLUHOHVV
/$1LQWHUIDFH<RXFDQVHOHFWDSDUWLFXODUFKDQQHORQZKLFKWRRSHUDWHIRUFH
WKHWUDQVPLVVLRQUDWHWRDSDUWLFXODUVSHHGVHWWKHIUDJPHQWDWLRQWKUHVKROGVHW
WKH576WKUHVKROGVHWWKHZDNHXSLQWHUYDOIRUFOLHQWVLQSRZHUVDYHPRGHVHW
WKHEHDFRQLQWHUYDOIRUWKHDFFHVVSRLQWVHW;3UHVVPRGHDQGVHWZKHWKHUVKRUW
RUORQJSUHDPEOHVDUHXVHG
&OLFN$SSO\WRFRQILJXUHWKHDGYDQFHGZLUHOHVVRSWLRQV
2SWLRQ'HVFULSWLRQ
%DQG 7KHQHZDPHQGPHQWDOORZV,(((JXQLWVWRIDOOEDFN
WRVSHHGVRI0ESVVR,(((EDQG,(((J
GHYLFHVFDQFRH[LVWLQWKHVDPHQHWZRUN7KHWZRVWDQGDUGV
DSSO\WRWKH*+]IUHTXHQF\EDQG
&KDQQHO 'URSGRZQPHQXWKDWDOORZVVHOHFWLRQRIDVSHFLILFFKDQQHO
$XWR&KDQQHO
7LPHUPLQ
$XWRFKDQQHOVFDQWLPHULQPLQXWHVWRGLVDEOH
J5DWH 'URSGRZQPHQXWKDWVSHFLILHVWKHIROORZLQJIL[HGUDWHV
$XWR'HIDXOW 8VHVWKH0ESVGDWDUDWHZKHQSRVVLEOH
EXWGURSVWRORZHUUDWHVZKHQQHFHVVDU\ 0ESV0ESV
0ESVRU0ESVIL[HGUDWHV 7KHDSSURSULDWHVHWWLQJLV
GHSHQGHQWRQVLJQDOVWUHQJWK
0XOWLFDVW5DWH 6HWWLQJPXOWLFDVWSDFNHWWUDQVPLWUDWH
%DVLF5DWH 6HWWLQJEDVLFWUDQVPLWUDWH
)UDJPHQWDWLRQ
7KUHVKROG
$WKUHVKROGVSHFLILHGLQE\WHVWKDWGHWHUPLQHVZKHWKHU
SDFNHWVZLOOEHIUDJPHQWHGDQGDWZKDWVL]H 2QDQ
:/$1SDFNHWVWKDWH[FHHGWKHIUDJPHQWDWLRQWKUHVKROGDUH
IUDJPHQWHGLHVSOLWLQWRVPDOOHUXQLWVVXLWDEOHIRUWKH
FLUFXLWVL]H 3DFNHWVVPDOOHUWKDQWKHVSHFLILHG
IUDJPHQWDWLRQWKUHVKROGYDOXHDUHQRWIUDJPHQWHG (QWHUD
YDOXHEHWZHHQDQG,I\RXH[SHULHQFHDKLJK
SDFNHWHUURUUDWHWU\WRVOLJKWO\LQFUHDVH\RXU
)UDJPHQWDWLRQ7KUHVKROG 7KHYDOXHVKRXOGUHPDLQDWLWV
GHIDXOWVHWWLQJRI 6HWWLQJWKH)UDJPHQWDWLRQ
7KUHVKROGWRRORZPD\UHVXOWLQSRRUSHUIRUPDQFH
5767KUHVKROG 5HTXHVWWR6HQGZKHQVHWLQE\WHVVSHFLILHVWKHSDFNHW
VL]HEH\RQGZKLFKWKH:/$1&DUGLQYRNHVLWV576&76
PHFKDQLVP 3DFNHWVWKDWH[FHHGWKHVSHFLILHG576
WKUHVKROGWULJJHUWKH576&76PHFKDQLVP 7KH1,&
WUDQVPLWVVPDOOHUSDFNHWZLWKRXWXVLQJ576&76 7KH
GHIDXOWVHWWLQJRIPD[LPXPOHQJWKGLVDEOHV576
7KUHVKROG
'7,0,QWHUYDO 'HOLYHU\7UDIILF,QGLFDWLRQ0HVVDJH'7,0DOVRNQRZQDV
%HDFRQ5DWH 7KHHQWU\UDQJHLVDYDOXHEHWZHHQDQG
$'7,0LVDFRXQWGRZQLQIRUPLQJFOLHQWVRIWKHQH[W
ZLQGRZIRUOLVWHQLQJWREURDGFDVWDQGPXOWLFDVWPHVVDJHV
:KHQWKH$3KDVEXIIHUHGEURDGFDVWRUPXOWLFDVWPHVVDJHV
IRUDVVRFLDWHGFOLHQWVLWVHQGVWKHQH[W'7,0ZLWKD'7,0
,QWHUYDOYDOXH $3&OLHQWVKHDUWKHEHDFRQVDQGDZDNHQWR
UHFHLYHWKHEURDGFDVWDQGPXOWLFDVWPHVVDJHV 7KHGHIDXOW
LV
%HDFRQ,QWHUYDO 7KHDPRXQWRIWLPHEHWZHHQEHDFRQWUDQVPLVVLRQV (DFK
EHDFRQWUDQVPLVVLRQLGHQWLILHVWKHSUHVHQFHRIDQDFFHVV
SRLQW %\GHIDXOWUDGLR1,&VSDVVLYHO\VFDQDOO5)FKDQQHOV
DQGOLVWHQIRUEHDFRQVFRPLQJIURPDFFHVVSRLQWVWRILQGD
VXLWDEOHDFFHVVSRLQW %HIRUHDVWDWLRQHQWHUVSRZHUVDYH
PRGHWKHVWDWLRQQHHGVWKHEHDFRQLQWHUYDOWRNQRZZKHQ
WRZDNHXSWRUHFHLYHWKHEHDFRQDQGOHDUQZKHWKHUWKHUH
DUHEXIIHUHGIUDPHVDWWKHDFFHVVSRLQW 7KHHQWHUHG
YDOXHLVUHSUHVHQWHGLQPV'HIDXOWLV $FFHSWDEOH
HQWU\UDQJHLVWR[IIII
*OREDO0D[&OLHQWV 7KHPD[LPXPQXPEHURIFOLHQWVDOORZHG
;SUHVV
70
7HFKQRORJ\
;SUHVV7HFKQRORJ\LVFRPSOLDQWZLWKGUDIWVSHFLILFDWLRQVRI
WZRSODQQHGZLUHOHVVLQGXVWU\VWDQGDUGV
J
70
0RGH 6HWWKHPRGHWRJ$XWRIRUWKHZLGHVWFRPSDWLELOLW\
6HOHFWWKHPRGHWRJ3HUIRUPDQFHIRUWKHIDVWHVW
SHUIRUPDQFH
DPRQJJFHUWLILHGHTXLSPHQW6HWWKHPRGHWRJ/56LI
\RXDUHH[SHULHQFLQJGLIILFXOW\ZLWKOHJDF\E
HTXLSPHQW
J3URWHFWLRQ ,Q$XWRPRGHWKHURXWHUZLOOXVH576&76WRLPSURYH
JSHUIRUPDQFHLQPL[HGJEQHWZRUNV
7XUQ SURWHFWLRQRIIWRPD[LPL]HJWKURXJKSXW
XQGHUPRVWFRQGLWLRQV
3UHDPEOH7\SH 6KRUWSUHDPEOHLVLQWHQGHGIRUDSSOLFDWLRQZKHUHPD[LPXP
WKURXJKSXWLVGHVLUHGEXWLWGRHVQ¶WFRRSHUDWHZLWKWKH
OHJDF\
/RQJSUHDPEOHLQWHURSHUDWHVZLWKWKHFXUUHQWDQG0ELWV
'666VSHFLILFDWLRQDVGHVFULEHGLQ,(((6WG
7UDQVPLW3RZHU 7KHURXWHUZLOOVHWGLIIHUHQWSRZHURXWSXWE\SHUFHQWDJH
DFFRUGLQJWRWKLVVHOHFWLRQ
6WDWLRQ,QIR
7KLVVFUHHQVKRZVDXWKHQWLFDWHGZLUHOHVVVWDWLRQVDQGWKHLUVWDWXV
+HDGLQJ'HVFULSWLRQ
0$& /LVWVWKH0$&DGGUHVVRIDOOWKHVWDWLRQV
$VVRFLDWHG /LVWVDOOWKHVWDWLRQVWKDWDUHDVVRFLDWHGZLWKWKH$FFHVV
3RLQWDORQJZLWKWKHDPRXQWRIWLPHVLQFHSDFNHWVZHUH
WUDQVIHUUHGWRDQGIURPHDFKVWDWLRQ,IDVWDWLRQLVLGOHIRUWRR
ORQJLWLVUHPRYHGIURPWKLVOLVW
$XWKRUL]HG /LVWVWKRVHGHYLFHVZLWKDXWKRUL]HGDFFHVV
66,' /LVWVZKLFK66,'RIWKHPRGHPWKDWWKHVWDWLRQVFRQQHFWWR
,QWHUIDFH /LVWVZKLFKLQWHUIDFHRIWKHPRGHPWKDWWKHVWDWLRQVFRQQHFWWR
&KDSWHU'LDJQRVWLFV
7KH'LDJQRVWLFVPHQXSURYLGHVIHHGEDFNRQWKHFRQQHFWLRQVWDWXVRIWKHGHYLFH
7KHLQGLYLGXDOWHVWVDUHOLVWHGEHORZ ,IDWHVWGLVSOD\VDIDLOVWDWXVFOLFN5(581
',$*1267,&7(676DWWKHERWWRPRIWKHVFUHHQWRUHWHVWDQGFRQILUPWKHHUURU
,IWKHWHVWFRQWLQXHVWRIDLOFOLFN+(/3DQGIROORZWKHWURXEOHVKRRWLQJSURFHGXUHV
7KHILJXUHDERYHVKRZVWKH'LDJQRVWLFVVFUHHQLQEULGJHPRGH
7KHILJXUHDERYHVKRZVWKH'LDJQRVWLFVVFUHHQLQ333R(PRGH
7KHWDEOHRQWKHIROORZLQJSDJHGHVFULEHVVRPHEDVLFGLDJQRVWLFVWHVWV
7HVW&RQGLWLRQ
(1(7&RQQHFWLRQ 3DVV,QGLFDWHVWKDWWKH(WKHUQHWLQWHUIDFHRQ\RXU
FRPSXWHULVFRQQHFWHGWRWKH/$1SRUWRIWKLVGHYLFH
)DLO,QGLFDWHVWKDWWKHGHYLFHGRHVQRWGHWHFWWKH
(WKHUQHWLQWHUIDFHRQ\RXUFRPSXWHU
:LUHOHVVFRQQHFWLRQ 3DVV,QGLFDWHVWKHZLUHOHVVFDUGRQWKHGHYLFHLV21
'RZQ,QGLFDWHVWKDWWKHZLUHOHVVFDUGLV2))
$'6/6\QFKURQL]DWLRQ 3DVV,QGLFDWHVWKDWWKH'6/PRGHPKDVGHWHFWHGD
'6/VLJQDOIURPWKHWHOHSKRQHFRPSDQ\ $VROLG$'6/
/('RQWKHGHYLFHDOVRLQGLFDWHVWKHGHWHFWLRQRID'6/
VLJQDOIURPWKHWHOHSKRQHFRPSDQ\
)DLO,QGLFDWHVWKDWWKH'6/PRGHPGRHVQRWGHWHFWD
VLJQDOIURPWKHWHOHSKRQHFRPSDQ\¶V'6/QHWZRUN
7KH$'6//('ZLOOWXUQRII
3LQJ'HIDXOW*DWHZD\ 3DVV,QGLFDWHVWKDWWKHGHYLFHFDQFRPPXQLFDWHZLWK
WKHILUVWHQWU\SRLQWWRWKHQHWZRUN ,WLVXVXDOO\WKH,3
DGGUHVVRIWKH,63ORFDOURXWHU
)DLO,QGLFDWHVWKDWWKHGHYLFHZDVXQDEOHWR
FRPPXQLFDWHZLWKWKHILUVWHQWU\SRLQWRQWKHQHWZRUN
,WPD\QRWKDYHDQHIIHFWRQ\RXU,QWHUQHWFRQQHFWLYLW\
7KHUHIRUHLIWKLVWHVWIDLOVEXW\RXDUHVWLOODEOHWR
DFFHVVWKH,QWHUQHWWKHUHLVQRQHHGWRWURXEOHVKRRW
WKLVLVVXH
3LQJ3ULPDU\'RPDLQ
1DPH6HUYHU
3DVV,QGLFDWHVWKDWWKHGHYLFHFDQFRPPXQLFDWHZLWK
WKHSULPDU\'RPDLQ1DPH6HUYHU'16
)DLO,QGLFDWHVWKDWWKHGHYLFHZDVXQDEOHWR
FRPPXQLFDWHZLWKWKHSULPDU\'RPDLQ1DPH6HUYHU
'16 ,WPD\QRWKDYHDQHIIHFWRQ\RXU,QWHUQHW
FRQQHFWLYLW\ 7KHUHIRUHLIWKLVWHVWIDLOVEXW\RXDUH
VWLOODEOHWRDFFHVVWKH,QWHUQHWWKHUHLVQRQHHGWR
WURXEOHVKRRWWKLVLVVXH
127( 7KLVWDEOHGHVFULEHVWKHEDVLFWHVWVHWLHQR39&FRQILJXUHG )RU
KHOSZLWKRWKHUWHVWVFOLFNRQWKH+HOSOLQNQH[WWRHDFKWHVWFRQGLWLRQ
&KDSWHU0DQDJHPHQW
7KH0DQDJHPHQWPHQXKDVWKHIROORZLQJPDLQWHQDQFHIXQFWLRQVDQGSURFHVVHV
6HWWLQJV ,QWHUQHW7LPH
6\VWHP/RJ $FFHVV&RQWURO
75&OLHQW 8SGDWH6RIWZDUH
6DYHDQG5HERRW
6HWWLQJV
7KH6HWWLQJVVFUHHQDOORZVIRUWKHEDFNXSUHWULHYDODQGUHVWRUDWLRQRIVHWWLQJV
%DFNXS
6HOHFW%DFNXSIURPWKH6HWWLQJVVXEPHQXWRDFFHVVWKHVFUHHQVKRZQEHORZ
&OLFNWKH%DFNXS6HWWLQJVEXWWRQWRVDYHWKHFXUUHQWFRQILJXUDWLRQVHWWLQJV
<RXZLOOEHSURPSWHGWRGHILQHWKHORFDWLRQRIDEDFNXSILOHWRVDYHWR\RXU3&
8SGDWH6HWWLQJV
6HOHFW8SGDWHIURPWKH6HWWLQJVVXEPHQXWRDFFHVVWKHVFUHHQVKRZQEHORZ
(QWHUDSUHYLRXVO\VDYHGFRQILJXUDWLRQEDFNXSILOHLQWKH6HWWLQJV)LOH1DPH
ILHOGDQGFOLFNWKH8SGDWH6HWWLQJVEXWWRQWRORDGLW ,I\RXIRUJHWWKHILOHQDPH
DQGSDWK\RXFDQVHDUFK\RXU3&E\FOLFNLQJRQWKH%URZVHEXWWRQ
5HVWRUH'HIDXOW
6HOHFW5HVWRUH'HIDXOWIURPWKH6HWWLQJVVXEPHQXWRDFFHVVWKHVFUHHQVKRZQ
EHORZ &OLFNWKH5HVWRUH'HIDXOW6HWWLQJVEXWWRQWRUHVWRUHWKHGHYLFHWRWKH
GHIDXOWILUPZDUHVHWWLQJV 5HVWRULQJV\VWHPVHWWLQJVUHTXLUHDGHYLFHUHERRW
127(7KHGHIDXOWVHWWLQJVFDQEHIRXQGLQVHFWLRQ'HIDXOW6HWWLQJV
$IWHUWKH5HVWRUH'HIDXOW&RQILJXUDWLRQEXWWRQLVVHOHFWHGWKHIROORZLQJVFUHHQ
DSSHDUV &ORVHWKHGHYLFH&RQILJXUDWLRQZLQGRZDQGZDLWIRUPLQXWHVEHIRUH
UHRSHQLQJWKHEURZVHU ,IQHFHVVDU\UHFRQILJXUH\RXU3&,3DGGUHVVWRPDWFK
\RXUQHZFRQILJXUDWLRQVHHVHFWLRQ,3&RQILJXUDWLRQIRUGHWDLOV
$IWHUDVXFFHVVIXOUHERRWWKHEURZVHUZLOOUHWXUQWRWKH'HYLFH,QIRVFUHHQ ,I
WKHEURZVHUGRHVQRWUHIUHVKWRWKHGHIDXOWVFUHHQFORVHDQGUHVWDUWWKHEURZVHU
127( 7KH5HVWRUH'HIDXOWIXQFWLRQKDVWKHVDPHHIIHFWDVWKHUHVHWEXWWRQ
7KHGHYLFHERDUGKDUGZDUHDQGWKHERRWORDGHUVXSSRUWWKHUHVHWWR
GHIDXOWEXWWRQ ,IWKHUHVHWEXWWRQLVFRQWLQXRXVO\SXVKHGIRUPRUH
WKDQVHFRQGVDQGQRWPRUHWKDQVHFRQGVWKHERRWORDGHUZLOO
HUDVHWKHFRQILJXUDWLRQVHWWLQJVVDYHGRQIODVKPHPRU\
6\VWHP/RJ
7KH6\VWHP/RJRSWLRQXQGHU0DQDJHPHQWDOORZVIRUWKHYLHZLQJRIV\VWHP
HYHQWVDQGFRQILJXUDWLRQRIUHODWHGRSWLRQV 7KHGHIDXOWVHWWLQJIRUWKH6\VWHP
/RJLVHQDEOHG )ROORZWKHVWHSVEHORZWRHQDEOHDQGYLHZWKH6\VWHP/RJ
67(3&OLFN&RQILJXUH6\VWHP/RJWREHJLQ
6WHS6HOHFWWKHV\VWHPORJRSWLRQVVHHWDEOHEHORZDQGFOLFN6DYH$SSO\
)LHOG'HVFULSWLRQ
/RJ ,QGLFDWHVZKHWKHUWKHV\VWHPLVFXUUHQWO\UHFRUGLQJ
HYHQWV 7KHXVHUFDQHQDEOHRUGLVDEOHHYHQWORJJLQJ
%\GHIDXOWLWLVGLVDEOHG
/RJOHYHO $OORZV\RXWRFRQILJXUHWKHHYHQWOHYHODQGILOWHURXW
XQZDQWHGHYHQWVEHORZWKLVOHYHO 7KHHYHQWVUDQJLQJ
IURPWKHKLJKHVWFULWLFDOOHYHO³(PHUJHQF\´GRZQWRWKLV
FRQILJXUHGOHYHOZLOOEHUHFRUGHGWRWKHORJEXIIHU
:KHQWKHORJEXIIHULVIXOOWKHQHZHUHYHQWZLOOZUDSXS
WRWKHWRSRIWKHORJEXIIHUDQGRYHUZULWHWKHROGHYHQW
%\GHIDXOWWKHORJOHYHOLV³'HEXJJLQJ´ZKLFKLVWKH
ORZHVWFULWLFDOOHYHO 7KHORJOHYHOVDUHDVIROORZV
x(PHUJHQF\ V\VWHPLVXQXVDEOH
x$OHUW DFWLRQPXVWEHWDNHQLPPHGLDWHO\
x&ULWLFDO FULWLFDOFRQGLWLRQV
x(UURU (UURUFRQGLWLRQV
x:DUQLQJ QRUPDOEXWVLJQLILFDQWFRQGLWLRQ
x1RWLFH QRUPDOEXWLQVLJQLILFDQWFRQGLWLRQ
x,QIRUPDWLRQDO SURYLGHVLQIRUPDWLRQIRUUHIHUHQFH
x'HEXJJLQJ GHEXJOHYHOPHVVDJHV
(PHUJHQF\LVWKHPRVWVHULRXVHYHQWOHYHOZKHUHDV
'HEXJJLQJLVWKHOHDVWLPSRUWDQW )RULQVWDQFHLIWKH
ORJOHYHOLVVHWWR'HEXJJLQJDOOWKHHYHQWVIURPWKH
ORZHVW'HEXJJLQJOHYHOWRWKHPRVWFULWLFDOOHYHO
(PHUJHQF\OHYHOZLOOEHUHFRUGHG,IWKHORJOHYHOLVVHW
WR(UURURQO\(UURUDQGWKHOHYHODERYHZLOOEHORJJHG
'LVSOD\/HYHO $OORZVWKHXVHUWRVHOHFWWKHORJJHGHYHQWVDQGGLVSOD\V
RQWKH9LHZ6\VWHP/RJZLQGRZIRUHYHQWVRIWKLVOHYHO
DQGDERYHWRWKHKLJKHVW(PHUJHQF\OHYHO
0RGH $OORZV\RXWRVSHFLI\ZKHWKHUHYHQWVVKRXOGEHVWRUHGLQ
WKHORFDOPHPRU\RUEHVHQWWRDUHPRWHV\VORJVHUYHU
RUERWKVLPXOWDQHRXVO\
,IUHPRWHPRGHLVVHOHFWHGYLHZV\VWHPORJZLOOQRWEH
DEOHWRGLVSOD\HYHQWVVDYHGLQWKHUHPRWHV\VOR
J
VHUYHU
:KHQHLWKHU5HPRWHPRGHRU%RWKPRGHLVFRQILJXUHG
WKH:(%8,ZLOOSURPSWWKHXVHUWRHQWHUWKH6HUYHU,3
DGGUHVVDQG6HUYHU8'3SRUW
&OLFN9LHZ6\VWHP/RJ 7KHUHVXOWVDUHGLVSOD\HGDVIROORZV
75&OLHQW
:$10DQDJHPHQW3URWRFRO75DOORZVDQ$XWR&RQILJXUDWLRQ6HUYHU$&6
WRSHUIRUPDXWRFRQILJXUDWLRQSURYLVLRQFROOHFWLRQDQGGLDJQRVWLFVWRWKLVURXWHU
2SWLRQ'HVFULSWLRQ
,QIRUP 'LVDEOH(QDEOH75FOLHQWRQWKH&3(
,QIRUP,QWHUYDO 7KHGXUDWLRQLQVHFRQGVRIWKHLQWHUYDOIRUZKLFKWKH&3(0867
DWWHPSWWRFRQQHFWZLWKWKH$&6DQGFDOOWKH,QIRUPPHWKRG
$&685/ 85/IRUWKH&3(WRFRQQHFWWRWKH$&6XVLQJWKH&3(:$1
0DQDJHPHQW3URWRFRO7KLVSDUDPHWHU0867EHLQWKHIRUPRID
YDOLG+773RU+773685/$Q+773685/LQGLFDWHVWKDWWKH$&6
VXSSRUWV66/7KH³KRVW´SRUWLRQRIWKLV85/LVXVHGE\WKH&3(
IRUYDOLGDWLQJWKHFHUWLILFDWHIURPWKH$&6ZKHQXVLQJ
FHUWLILFDWHEDVHGDXWKHQWLFDWLRQ
$&68VHU1DPH 8VHUQDPHXVHGWRDXWKHQWLFDWHWKH&3(ZKHQPDNLQJD
FRQQHFWLRQWRWKH$&6XVLQJWKH&3(:$10DQDJHPHQW
3URWRFRO7KLVXVHUQDPHLVXVHGRQO\IRU+773EDVHG
DXWKHQWLFDWLRQRIWKH&3(
$&63DVVZRUG 3DVVZRUGXVHGWRDXWKHQWLFDWHWKH&3(ZKHQPDNLQJD
FRQQHFWLRQWRWKH$&6XVLQJWKH&3(:$10DQDJHPHQW
3URWRFRO7KLVSDVVZRUGLVXVHGRQO\IRU+773EDVHG
DXWKHQWLFDWLRQRIWKH&3(
'LVSOD\62$3
PHVVDJHVRQ
VHULDOFRQVROH
(QDEOH'LVDEOH62$3PHVVDJHVRQVHULDOFRQVROH 7KLVRSWLRQ
LVXVHGIRUDGYDQFHGWURXEOHVKRRWLQJRIWKHGHYLFH
&RQQHFWLRQ5HTXHVW
$XWKHQWLFDWLRQ (QDEOH'LVDEOHXVLQJWKHFKHFNER[
8VHU1DPH 8VHUQDPHXVHGWRDXWKHQWLFDWHDQ$&6PDNLQJD&RQQHFWLRQ
5HTXHVWWRWKH&3(
3DVVZRUG 3DVVZRUGXVHGWRDXWKHQWLFDWHDQ$&6PDNLQJD&RQQHFWLRQ
5HTXHVWWRWKH&3(
*HW53&
0HWKRGV
&OLFNWKLVEXWWRQWRIRUFHWKH&3(WRHVWDEOLVKDQLPPHGLDWH
FRQQHFWLRQWRWKH$&6 7KLVPD\EHXVHGWRGLVFRYHUWKHVHWRI
PHWKRGVVXSSRUWHGE\WKH$&6RU&3(
,QWHUQHW7LPH
7KH,QWHUQHW7LPHRSWLRQXQGHUWKH0DQDJHPHQWVXEPHQXFRQILJXUHVWKHWLPH
VHWWLQJVRIWKHGHYLFH 7RDXWRPDWLFDOO\V\QFKURQL]HZLWK,QWHUQHWWLPHVHUYHUV
WLFNWKHFRUUHVSRQGLQJER[GLVSOD\HGRQWKLVVFUHHQVKRZQEHORZ
),5671737,0(6(59(56HOHFWWKHUHTXLUHGVHUYHU
6(&21'1737,0(6(59(56HOHFWVHFRQGWLPHVHUYHULIUHTXLUHG
7,0(=21(2))6(76HOHFWWKHORFDOWLPH]RQH
&RQILJXUHWKHVHRSWLRQVDQGWKHQFOLFN6DYH$SSO\WRDFWLYDWH
127( ,QWHUQHW7LPHPXVWEHDFWLYDWHGWRXVH3DUHQWDO&RQWUROSDJH
,QDGGLWLRQWKLVPHQXLWHPLVQRWGLVSOD\HGZKHQLQEULGJHPRGHVLQFH
WKHURXWHUZRXOGQRWEHDEOHWRFRQQHFWWRWKH173WLPHVHUYHU
$FFHVV&RQWURO
7KH$FFHVV&RQWURORSWLRQXQGHUWKH0DQDJHPHQWPHQXEDUFRQILJXUHVDFFHVV
UHODWHGSDUDPHWHUVLQWKUHHDUHDV6HUYLFHV,3$GGUHVVHVDQG3DVVZRUGV 8VH
$FFHVV&RQWUROWRFRQWUROORFDODQGUHPRWHPDQDJHPHQWVHWWLQJVIRUWKHGHYLFH
6HUYLFHV
7KH6HUYLFHVRSWLRQOLPLWVRURSHQVWKHDFFHVVVHUYLFHVRYHUWKH/$1RU:$1
7KHVHDFFHVVVHUYLFHVDUHDYDLODEOH)73+773,&0366+7(/1(7DQG7)73
(QDEOHDVHUYLFHE\WLFNLQJLWVFKHFNER[ &OLFN6DYH$SSO\WRDFWLYDWH
127(67KH:$1FROXPQLVSUHVHQWLIWKH:$1LQWHUIDFHLVDFWLYH 2QO\WKH
/$1VLGHZLOOEHGLVSOD\HGLIWKH:$1LQWHUIDFHLVQRWFRQILJXUHG
$SSHQGL['66+&OLHQWFRQWDLQVDTXLFNLQWURGXFWLRQWR66+FOLHQWV
,3$GGUHVVHV
7KH,3$GGUHVVHVRSWLRQOLPLWVORFDODFFHVVE\,3DGGUHVV :KHQWKH$FFHVV
&RQWURO0RGHLVHQDEOHGRQO\WKH,3DGGUHVVHVOLVWHGKHUHFDQDFFHVVWKHGHYLFH
%HIRUHHQDEOLQJ$FFHVV&RQWURO0RGHDGG,3DGGUHVVHVZLWKWKH$''EXWWRQ
2QWKLVVFUHHQHQWHUWKH,3DGGUHVVWRZKLFK\RXZLVKWRJLYHDFFHVVSULYLOHJHV
&OLFN6DYH$SSO\WRFRQWLQXH
3DVVZRUGV
7KH3DVVZRUGVRSWLRQFRQILJXUHVWKHXVHUDFFRXQWDFFHVVSDVVZRUGVIRUWKH
GHYLFH $FFHVVWRWKHGHYLFHLVOLPLWHGWRWKHIROORZLQJWKUHHXVHUDFFRXQWV
xURRWLVWREHXVHGIRUORFDO/$1PDQDJHPHQW
xVXSSRUWLVWREHXVHGIRUUHPRWH:$1PDQDJHPHQW
xXVHULVWREHXVHGWRYLHZLQIRUPDWLRQDQGXSGDWHGHYLFHILUPZDUH
127('HIDXOWSDVVZRUGVIRUWKHVHWKUHHXVHUDFFRXQWVFDQEHIRXQGLQVHFWLRQ
'HIDXOW6HWWLQJV
8VHWKHILHOGVLQWKHVFUHHQEHORZWRVHOHFWDXVHUQDPHDQGFKDQJHLWVSDVVZRUG
3DVVZRUGVPXVWEHFKDUDFWHUVRUOHVV &OLFN6DYH$SSO\WRFRQWLQXH
8SGDWH6RIWZDUH
7KH8SGDWH6RIWZDUHVFUHHQDOORZVIRUILUPZDUHXSGDWHV 0DQXDOGHYLFH
XSJUDGHVIURPDORFDOO\VWRUHGILOHFDQEHSHUIRUPHGXVLQJWKHIROORZLQJVFUHHQ
67(3 2EWDLQDQXSGDWHGVRIWZDUHLPDJHILOHIURP\RXU,63
67(3(QWHUWKHSDWKDQGILOHQDPHRIWKHILUPZDUHLPDJHILOHLQWKH6RIWZDUH
)LOH1DPHILHOGRUFOLFNWKH%52:6(EXWWRQWRORFDWHWKHLPDJHILOH
67(3&OLFNWKH8SGDWH6RIWZDUHEXWWRQRQFHWRXSORDGDQGLQVWDOOWKHILOH
127(7KHXSGDWHSURFHVVZLOOWDNHDERXWPLQXWHVWRFRPSOHWH 7KHGHYLFH
ZLOOUHERRWDQGWKHEURZVHUZLQGRZZLOOUHIUHVKWRWKHGHIDXOWVFUHHQ
XSRQVXFFHVVIXOLQVWDOODWLRQ
,WLVUHFRPPHQGHGWKDW\RXFRPSDUHWKH6RIWZDUH9HUVLRQDWWKHWRS
RIWKH'HYLFH,QIR6XPPDU\VFUHHQVHHJUDSKLFEHORZZLWKWKH
ILUPZDUHYHUVLRQLQVWDOOHGWRFRQILUPWKHLQVWDOODWLRQZDVVXFFHVVIXO
6DYHDQG5HERRW
7KLVIXQFWLRQVDYHVWKHFXUUHQWFRQILJXUDWLRQVHWWLQJVDQGUHERRWVWKHGHYLFH
127( <RXPD\QHHGWRUHFRQILJXUHWKH7&3,3VHWWLQJVDIWHUUHERRWLQJ )RU
H[DPSOHLIWKH'+&3VHUYHULVGLVDEOHG6WDWLF,3VHWWLQJVPXVWEH
FRQILJXUHG6HHVHFWLRQ,3&RQILJXUDWLRQIRUGHWDLOHGLQVWUXFWLRQV
127(,I\RXORVHDOODFFHVVWRWKHZHEXVHULQWHUIDFH:8,\RXPD\QHHGWR
FORVHWKHEURZVHUZDLWIRUWZRPLQXWHVDQGWKHQUHVWDUWWKH:8,
,IWKLVGRHVQRWZRUNWKHQSUHVVWKHUHVHWEXWWRQRQWKHUHDUSDQHORI
WKHGHYLFHIRUVHFRQGVWRUHVWRUHWRGHIDXOWVHWWLQJV
$SSHQGL[$6HFXULW\
67$7()8/3$&.(7,163(&7,21
5HIHUVWRDQDUFKLWHFWXUHZKHUHWKHILUHZDOONHHSVWUDFNRISDFNHWVRQHDFK
FRQQHFWLRQWUDYHUVLQJDOOLWVLQWHUIDFHVDQGPDNHVVXUHWKH\DUHYDOLG 7KLVLVLQ
FRQWUDVWWRVWDWLFSDFNHWILOWHULQJZKLFKRQO\H[DPLQHVDSDFNHWEDVHGRQWKH
LQIRUPDWLRQLQWKHSDFNHWKHDGHU
'(1,$/2)6(59,&($77$&.
,VDQLQFLGHQWLQZKLFKDXVHURURUJDQL]DWLRQLVGHSULYHGRIWKHVHUYLFHVRID
UHVRXUFHWKH\ZRXOGQRUPDOO\H[SHFWWRKDYH 9DULRXV'R6DWWDFNVWKHGHYLFH
FDQZLWKVWDQGDUH$53$WWDFN3LQJ$WWDFN3LQJRI'HDWK/DQG6<1$WWDFN
6PXUI$WWDFNDQG7HDU'URS
7&3,33257,17(5)$&(),/7(5
7KHVHUXOHVKHOSLQWKHILOWHULQJRIWUDIILFDWWKH1HWZRUNOD\HULH/D\HU
:KHQD5RXWLQJLQWHUIDFHLVFUHDWHG(QDEOH)LUHZDOOPXVWEHFKHFNHG
1DYLJDWHWR$GYDQFHG6HWXS!6HFXULW\!,3)LOWHULQJ
287*2,1*,3),/7(5
+HOSVLQVHWWLQJUXOHVWR'523SDFNHWVIURPWKH/$1LQWHUIDFH%\GHIDXOWLI
)LUHZDOOLV(QDEOHGDOO,3WUDIILFIURP/$1LVDOORZHG %\VHWWLQJXSRQHRUPRUH
ILOWHUVSDUWLFXODUSDFNHWW\SHVFRPLQJIURPWKH/$1FDQEHGURSSHG
),/7(51$0(8VHUGHILQHG)LOWHU1DPH
35272&2/&DQWDNHRQDQ\YDOXHVIURP7&38'37&38'3RU,&03
6285&(,3$''5(666285&(68%1(70$6.3DFNHWVZLWKWKHSDUWLFXODU
³6RXUFH,3$GGUHVV6RXUFH6XEQHW0DVNFRPELQDWLRQZLOOEHGURSSHG
6285&(32577KLVFDQWDNHRQHLWKHUDVLQJOHSRUWQXPEHURUDUDQJHRISRUW
QXPEHUV 3DFNHWVKDYLQJDVRXUFHSRUWHTXDOWRWKLVYDOXHRUIDOOLQJZLWKLQWKH
UDQJHRISRUWQXPEHUVSRUW;SRUW<ZLOOEHGURSSHG
'(67,1$7,21,3$''5(66'(67,1$7,2168%1(70$6.3DFNHWVZLWKWKH
SDUWLFXODU'HVWLQDWLRQ,3$GGUHVV'HVWLQDWLRQ6XEQHW0DVNFRPELQDWLRQZLOOEH
GURSSHG
'(67,1$7,2132577KLVFDQWDNHRQHLWKHUDVLQJOHSRUWQXPEHURUDUDQJHRI
SRUWQXPEHUV 3DFNHWVKDYLQJDGHVWLQDWLRQSRUWHTXDOWRWKLVYDOXHRUIDOOLQJ
ZLWKLQWKHUDQJHRISRUWQXPEHUVSRUW;SRUW<ZLOOEHGURSSHG
(;$03/(
)LOWHU1DPH2XWB)LOWHU
3URWRFRO7&3
6RXUFH$GGUHVV
6RXUFH6XEQHW0DVN
6RXUFH3RUW
'HVWLQDWLRQ$GGUHVV 1$
'HVWLQDWLRQ6XEQHW0DVN 1$
'HVWLQDWLRQ3RUW1$
7KLVILOWHUZLOO'URSDOO7&3SDFNHWVFRPLQJIURP/$1ZLWK,3$GGUHVV6XE 0DVN
KDYLQJDVRXUFHSRUWRILUUHVSHFWLYHRIWKHGHVWLQDWLRQ $OO
RWKHUSDFNHWVZLOOEH$FFHSWHG
(;$03/(
)LOWHU1DPH2XWB)LOWHU
3URWRFRO8'3
6RXUFH$GGUHVV
6RXUFH6XEQHW0DVN
6RXUFH3RUW
'HVWLQDWLRQ$GGUHVV
'HVWLQDWLRQ6XEQHW0DVN
'HVWLQDWLRQ3RUW
7KLVILOWHUZLOOGURSDOO8'3SDFNHWVFRPLQJIURP/$1ZLWK,3$GGUHVV6XEQHW
0DVNDQGDVRXUFHSRUWLQWKHUDQJHRIWRGHVWLQHG
WRDQGDGHVWLQDWLRQSRUWLQWKHUDQJHRIWR
,1&20,1*,3),/7(5,1*
+HOSVLQVHWWLQJUXOHVWR$&&(37SDFNHWVIURPWKH:$1LQWHUIDFH %\GHIDXOWDOO
LQFRPLQJ,3WUDIILFIURPWKH:$1LV%ORFNHGLIWKH)LUHZDOOLV(QDEOHG %\VHWWLQJ
XSRQHRUPRUHILOWHUVSDUWLFXODUSDFNHWW\SHVFRPLQJIURPWKH:$1FDQEH
$FFHSWHG
),/7(51$0(8VHUGHILQHG)LOWHU1DPH
35272&2/&DQWDNHRQDQ\YDOXHVIURP7&38'37&38'3RU,&03
6285&(,3$''5(666285&(68%1(70$6.3DFNHWVZLWKWKHSDUWLFXODU
6RXUFH,3$GGUHVV6RXUFH6XEQHW0DVNFRPELQDWLRQZLOOEHDFFHSWHG
6285&(32577KLVFDQWDNHRQHLWKHUDVLQJOHSRUWQXPEHURUDUDQJHRISRUW
QXPEHUV 3DFNHWVKDYLQJDVRXUFHSRUWHTXDOWRWKLVYDOXHRUIDOOLQJZLWKLQWKH
UDQJHRISRUWQXPEHUVSRUW;SRUW<ZLOOEHDFFHSWHG
'(67,1$7,21,3$''5(66'(67,1$7,2168%1(70$6.3DFNHWVZLWKWKH
SDUWLFXODU'HVWLQDWLRQ,3$GGUHVV'HVWLQDWLRQ6XEQHW0DVNFRPELQDWLRQZLOOEH
DFFHSWHG
'(67,1$7,2132577KLVFDQWDNHRQHLWKHUDVLQJOHSRUWQXPEHURUDUDQJHRI
SRUWQXPEHUV 3DFNHWVKDYLQJDGHVWLQDWLRQSRUWHTXDOWRWKLVYDOXHRUIDOOLQJ
ZLWKLQWKHUDQJHRISRUWQXPEHUVSRUW;SRUW<ZLOOEHDFFHSWHG
7KH:$1LQWHUIDFHRQZKLFKWKHVHUXOHVDSSO\QHHGVWREHVHOHFWHGE\XVHU
(;$03/(
)LOWHU1DPH ,QB)LOWHU
3URWRFRO7&3
6RXUFH$GGUHVV
6RXUFH6XEQHW0DVN
6RXUFH3RUW
'HVWLQDWLRQ$GGUHVV 1$
'HVWLQDWLRQ6XEPDVN 1$
'HVWLQDWLRQ3RUW 1$
6HOHFWHG:$1LQWHUIDFHPHUBBQDVBB
7KLVILOWHUZLOO$&&(37DOO7&3SDFNHWVFRPLQJIURP:$1LQWHUIDFH
PHUBBQDVBBZLWK,3$GGUHVV6XE 0DVNKDYLQJD
VRXUFHSRUWRILUUHVSHFWLYHRIWKHGHVWLQDWLRQ $OORWKHULQFRPLQJSDFNHWVRQ
WKLVLQWHUIDFHDUH'5233('
(;$03/(
)LOWHU1DPH,QB)LOWHU
3URWRFRO8'3
6RXUFH$GGUHVV
6RXUFH6XEQHW0DVN
6RXUFH3RUW
'HVWLQDWLRQ$GGUHVV
'HVWLQDWLRQ6XEQHW0DVN
'HVWLQDWLRQ3RUW
7KLVUXOHZLOO$&&(37DOO8'3SDFNHWVFRPLQJIURP:$1LQWHUIDFH
PHUBBQDVBBZLWK,3$GGUHVV6XEQHW0DVNDQGD
VRXUFHSRUWLQWKHUDQJHRIWRGHVWLQHGWRDQGD
GHVWLQDWLRQSRUWLQWKHUDQJHRIWR $OORWKHULQFRPLQJSDFNHWVRQWKLV
LQWHUIDFHDUH'5233('
0$&/$<(5),/7(5,1*7KHVHUXOHVKHOSLQWKHILOWHULQJRIWUDIILFDWWKH/D\HU
0$&)LOWHULQJLVRQO\HIIHFWLYHRQ$7039&VFRQILJXUHGLQ%ULGJHPRGH $IWHUD
%ULGJHPRGH39&LVFUHDWHGQDYLJDWHWR$GYDQFHG6HWXS6HFXULW\0$&
)LOWHULQJ
*/2%$/32/,&< :KHQVHWWR)RUZDUGHGWKHGHIDXOWILOWHUEHKDYLRULVWR
)RUZDUGDOO0$&OD\HUIUDPHVH[FHSWWKRVHH[SOLFLWO\VWDWHGLQWKHUXOHV 6HWWLQJ
LWWR%ORFNHGFKDQJHVWKHGHIDXOWILOWHUEHKDYLRUWR'URSDOO0$&OD\HUIUDPHV
H[FHSWWKRVHH[SOLFLWO\VWDWHGLQWKHUXOHV
35272&2/7<3((LWKHU333R(,3Y,3Y$SSOH7DON,3;1HW%(8,,*03
'(67,1$7,210$&$''5(662IWKHIRUP;;;;;;;;;;;; )UDPHV
ZLWKWKLVSDUWLFXODUGHVWLQDWLRQDGGUHVVZLOOEH)RUZDUGHG'URSSHGGHSHQGLQJRQ
ZKHWKHUWKH*OREDO3ROLF\LV%ORFNHG)RUZDUGHG
6285&(0$&$''5(662IWKHIRUP;;;;;;;;;;;; )UDPHVZLWKWKLV
SDUWLFXODUVRXUFHDGGUHVVZLOOEH)RUZDUGHG'URSSHGGHSHQGLQJRQZKHWKHUWKH
*OREDO3ROLF\LV%ORFNHG)RUZDUGHG
)5$0(',5(&7,218VHUPXVWVHOHFWLQWHUIDFHRQZKLFKWKLVUXOHLVDSSOLHG
/$1 !:$1!$OO)UDPHVFRPLQJJRLQJWRIURP/$1RUWRIURP:$1
:$1 !/$1!$OO)UDPHVFRPLQJIURP:$1GHVWLQHGWR/$1
/$1 !:$1!$OO)UDPHVFRPLQJIURP/$1GHVWLQHGWR:$1
(;$03/(
*OREDO3ROLF\)RUZDUGHG
3URWRFRO7\SH333R(
'HVWLQDWLRQ0$&$GGUHVV
6RXUFH0$&$GGUHVV1$
)UDPH'LUHFWLRQ/$1 !:$1
:$1,QWHUIDFH6HOHFWHGEUBBQDVBB
$GGLWLRQRIWKLVUXOHGURSVDOO333R(IUDPHVJRLQJIURP/$1VLGHWR:$1VLGHZLWK
D'HVWLQDWLRQ0$&$GGUHVVRILUUHVSHFWLYHRILWV6RXUFH0$&
$GGUHVVRQWKHEUBB:$1LQWHUIDFH$OORWKHUIUDPHVRQWKLVLQWHUIDFHDUH
IRUZDUGHG
(;$03/(
*OREDO3ROLF\%ORFNHG
3URWRFRO7\SH333R(
'HVWLQDWLRQ0$&$GGU
6RXUFH0$&$GGU
)UDPH'LUHFWLRQ:$1 !/$1
:$1,QWHUIDFH6HOHFWHGEUBBQDVBB
$GGLWLRQRIWKLVUXOHIRUZDUGVDOO333R(IUDPHVJRLQJIURP:$1VLGHWR/$1VLGH
ZLWKD'HVWLQDWLRQ0$&$GGUHVVRIDQG6RXUFH0$&$GGUHVVRI
RQWKHEUBB:$1LQWHUIDFH $OORWKHUIUDPHVRQWKLV
LQWHUIDFHDUHGURSSHG
'$<7,0(3$5(17$/&21752/
7KLVIHDWXUHUHVWULFWVDFFHVVRIDVHOHFWHG/$1GHYLFHWRDQRXWVLGH1HWZRUN
WKURXJKWKHGHYLFHDVSHUFKRVHQGD\VRIWKHZHHNDQGWKHFKRVHQWLPHV
86(51$0(1DPHRIWKH)LOWHU
%52:6(50$&$''5(66'LVSOD\V0$&DGGUHVVRIWKH/$1GHYLFHRQZKLFK
WKHEURZVHULVUXQQLQJ
27+(50$&$''5(66,IUHVWULFWLRQVDUHWREHDSSOLHGWRDGHYLFHRWKHUWKDQ
WKHRQHRQZKLFKWKHEURZVHULVUXQQLQJWKH0$&DGGUHVVRIWKDW/$1GHYLFHLV
HQWHUHG
'$<62)7+(:((.'D\VRIWKHZHHNZKHQWKHUHVWULFWLRQVDUHDSSOLHG
67$57%/2&.,1*7,0(7KHWLPHZKHQUHVWULFWLRQVRQWKH/$1GHYLFHEHJLQ
(1'%/2&.,1*7,0(7KHWLPHZKHQ/$1GHYLFHUHVWULFWLRQVDUHOLIWHG
(;$03/(
8VHU1DPH)LOWHU-RKQ
%URZVHUV0$&$GGUHVV
'D\VRIWKH:HHN0RQ:HG)UL
6WDUW%ORFNLQJ7LPH
(QG%ORFNLQJ7LPH
:KHQWKLVUXOHLH)LOWHU-RKQLVHQWHUHGD/$1GHYLFHZLWK0$&$GGUHVVRI
ZLOOEHUHVWULFWHGDFFHVVWRWKHRXWVLGHQHWZRUNRQ0RQGD\V
:HGQHVGD\VDQG)ULGD\VIURPSPWRSP 2QDOORWKHUGD\VDQGWLPHWKLV
GHYLFHZLOOKDYHDFFHVVWRWKHRXWVLGH1HWZRUN
$SSHQGL[%3LQ$VVLJQPHQWV
/LQH3RUW5-
3LQ'HILQLWLRQ 3LQ'HILQLWLRQ
$'6/B7,3
$'6/B5,1*
/$13RUW5-
3LQ'HILQLWLRQ 3LQ'HILQLWLRQ
7UDQVPLWGDWD 1&
7UDQVPLWGDWD 5HFHLYHGDWD
5HFHLYHGDWD 1&
1& 1&
$SSHQGL[&6SHFLILFDWLRQV
5($53$1(/
5-;IRU$'6/5-;IRU/$1:36%XWWRQ;
:L)L%XWWRQ;
5HVHW%XWWRQ;3RZHU-DFN;3RZHUEXWWRQ;:L)L$QWHQQD[
:$1
6WDQGDUG,787*,787*,787*$16,7,VVXH
*$'6/ 'RZQVWUHDP0ESV 8SVWUHDP0ESV
*$'6/ 'RZQVWUHDP0ESV 8SVWUHDP0ESV
*'07 'RZQVWUHDP0ESV 8SVWUHDP0ESV
$QQH[0
/$1
6WDQGDUG ,(((,(((X
%DVH7 $XWRVHQVH
0',0';VXSSRUW<HV
:,5(/(66
6WDQGDUG ,(((J±EDFNZDUGFRPSDWLEOHZLWKE
(QFU\SWLRQELW:(3
&KDQQHOV86&DQDGD(XURSH-DSDQ
'DWD5DWH8SWR0ESV
:3$:3$ <HV
,((([ <HV
:36 <HV
0$&)LOWHULQJ <HV
$IWHUEXUQHUPRGH7XUERPRGH 2SWLRQDO
$70$775,%87(6
5)&333R$5)&5)&%ULGJH5RXWH5)&333R(5)&
,3R$$QQH[0
6XSSRUW39&V
$$/W\SH $$/
$70VHUYLFHFODVV 8%5&%59%5
$7081,VXSSRUW 81,
2$0)) <HV
0$1$*(0(17
7HOQHW:HEEDVHGPDQDJHPHQW&RQILJXUDWLRQEDFNXSDQGUHVWRUDWLRQ6RIWZDUH
XSJUDGHYLD+7737)73RU)73VHUYHU6XSSRUWV757575IRU
5HPRWH0DQDJHPHQW
6(&85,7<)81&7,216
3$3&+$3
3DFNHWDQG0$&DGGUHVVILOWHULQJ
$FFHVVFRQWURODQG66+
)RXUOHYHOORJLQLQFOXGLQJORFDODGPLQORFDOXVHUDQGUHPRWHWHFKQLFDOVXSSRUW
DFFHVVDQGXVHUIRU:L)LDFFHVV
1(7:25.,1*35272&2/6
5)&9&08;//&61$3HQFDSVXODWLRQVIRUEULGJHGRUURXWHGSDFNHW
5)&333RYHU$$/
,3R$333R$333R(0XOWLSOH333R(VHVVLRQVRQVLQJOH39&333R(SDVVWKURXJK
333R(ILOWHULQJRIRQ333R(SDFNHWVEHWZHHQ:$1DQG/$1
7UDQVSDUHQWEULGJLQJEHWZHHQDOO/$1DQG:$1LQWHUIDFHV
ST9/$1VXSSRUW
6SDQQLQJ7UHH$OJRULWKP
,*033UR[\999,*036QRRSLQJ999)DVWOHDYH
6WDWLFURXWH5,3YY
'+&36HUYHU&OLHQW5HOD\
'165HOD\'\QDPLF'16
$535$536173
426
3DFNHWOHYHO4R6FODVVLILFDWLRQUXOHV
3ULRULW\TXHXLQJXVLQJ$707;TXHXHV
,37263UHFHGHQFH
SPDUNLQJ
'LII6HUY'6&3PDUNLQJ
6UFGHVW0$&DGGUHVVHVFODVVLILFDWLRQ
),5(:$//),/7(5,1*
6WDWHIXO,QVSHFWLRQ)LUHZDOO
6WDWHOHVV3DFNHW)LOWHU
'D\WLPH3DUHQWDO&RQWURO
'HQLDORI6HUYLFH'26$53DWWDFNV3LQJDWWDFNV3LQJRI'HDWK/$1'6<1&
6PXUI8QUHDFKDEOH7HDUGURS7&3,33RUWLQWHUIDFHILOWHULQJUXOHV6XSSRUWERWK
LQFRPLQJDQGRXWJRLQJILOWHULQJ
1$71$37
6XSSRUW3RUW7ULJJHULQJDQG3RUWIRUZDUGLQJ
6\PPHWULFSRUWRYHUORDGLQJ1$7)XOO&RQH1$7
'\QDPLF1$371$371WR
6XSSRUW'0=KRVW
9LUWXDO6HUYHU
9313DVVWKURXJK3373/73,36HF
$33/,&$7,21/$<(5*$7(:$<
6,3+<$+220(66(1*(5,&45($/3/$<(51(73+21(1(70((7,1*
061;%2;0,&5262)7',5(&7;*$0(6$1'(7&32:(56833/<
([WHUQDOSRZHUDGDSWHU9DF2XWSXW9$
(19,5210(17&21',7,21
2SHUDWLQJWHPSHUDWXUH aGHJUHHV&HOVLXV
5HODWLYHKXPLGLW\ aQRQFRQGHQVLQJ
.,7:(,*+7
;&75-DQG5-FDEOHVSRZHUDGDSWHU&'520 NJ
',0(16,216 00:;00+;00'
&(57,),&$7,216&()&&3$57)&&3$57
127(6SHFLILFDWLRQVDUHVXEMHFWWRFKDQJHZLWKRXWQRWLFH
$SSHQGL['66+&OLHQW
/LQX[26FRPHVZLWKDVVKFOLHQW 0LFURVRIW:LQGRZVGRHVQRWKDYHVVKFOLHQW
EXWWKHUHLVDSXEOLFGRPDLQRQHFDOOHG³SXWW\´WKDW\RXFDQGRZQORDGKHUH
KWWSZZZFKLDUNJUHHQHQGRUJXNaVJWDWKDPSXWW\GRZQORDGKWPO
7R D FFHVVWKHURXWHUXVLQJ/LQX[VVKFOLHQW
)URP/$18VHWKHURXWHU:(%8,WRHQDEOH66+DFFHVVIURP/$1
GHIDXOWLVHQDEOHG
W\SHVVKOURRW
)URP:$18VH:(%8,WRHQDEOH66+DFFHVVIURP:$1
W\SHVVKOVXSSRUWURXWHU:$1LSDGGUHVV
7R D FFHVVWKHURXWHUXVLQJWKH:LQGRZV³SXWW\´VVKFOLHQW
)URP/$18VHWKHURXWHU:(%8,WRHQDEOH66+DFFHVVIURP/$1
GHIDXOWLVHQDEOHG
W\SHSXWW\VVKODGPLQ
)URP:$1,QWKHURXWHUXVH:(%8,WRHQDEOH66+DFFHVVIURP:$1
W\SHSXWW\VVKOVXSSRUWURXWHU:$1LSDGGUHVV
$SSHQGL[(:6&([WHUQDO5HJLVWUDU
)ROORZWKHVHVWHSVWRDGGDQH[WHUQDOUHJLVWUDUXVLQJWKHZHEXVHULQWHUIDFH:8,
RQDSHUVRQDOFRPSXWHUUXQQLQJWKH:LQGRZV9LVWDRSHUDWLQJV\VWHP
6WHS(QDEOH83Q3RQWKH$GYDQFHG6HWXSÆ/$1VFUHHQLQWKH:8,
127($39&PXVWH[LVWWRVHHWKLVRSWLRQ
6WHS 2SHQWKH1HWZRUNIROGHUDQGORRNIRUWKH%URDGFRP$3LFRQ
6WHS 2QWKH:LUHOHVVÆ6HFXULW\VFUHHQHQDEOH:6&E\VHOHFWLQJ(QDEOHG
IURPWKHGURSGRZQOLVWER[DQGVHWWKH:6&$30RGHWR8QFRQILJXUHG
6WHS&OLFNWKH6DYH$SSO\EXWWRQDWWKHERWWRPRIWKHVFUHHQ 7KHVFUHHQ
ZLOOJREODQNZKLOHWKHURXWHUDSSOLHVWKHQHZ:LUHOHVVVHWWLQJV :KHQ
WKHVFUHHQUHWXUQVSUHVVWKH6WDUW$GG(5EXWWRQDVVKRZQDERYH
6WHS
6WHS
6WHS 1RZUHWXUQWRWKH1HWZRUNIROGHUDQGFOLFNWKH%URDGFRP$3LFRQ$
GLDORJER[ZLOODSSHDUDVNLQJIRUWKH'HYLFH3,1QXPEHU (QWHUWKH
'HYLFH3,1DVVKRZQRQWKH:LUHOHVVÆ6HFXULW\VFUHHQ &OLFN1H[W
6WHS :LQGRZV9LVWDZLOODWWHPSWWRFRQILJXUHWKHZLUHOHVVVHFXULW\VHWWLQJV
6WHS,IVXFFHVVIXOWKHVHFXULW\VHWWLQJVZLOOPDWFKWKRVHLQ:LQGRZV9LVWD