>BEDGI6CI H6;:IL >CHIGJ8I>DC
EA:6H: G:69 86G:;JAAL 6AA I=: ;DAADK>C< >BEDGI6CI H6;:<J6G9H
I=6I 6G: 6EEA>867A: ID LDJG :FJ>EB:CI
sp :GCF 1PUVTWEVKQPU o~NN VJG UCHGV[ CPF QRGTCVKPI KPUVTWEVKQPU UJQWNF DG TGCF DGHQTG VJG RTQFWEV KU QRGTCVGFp
t
p:GVCKP KPUVTWEVKQPU oJG UCHGV[ CPF QRGTCVKPI KPUVTWEVKQPU UJQWNF DG TGVCKPGF HQT HWVWTG TGHGTGPEGp
up 0GGF ?CTPKPIU o~NN YCTPKPIU QP VJG RTQFWEV CPF KP VJG QRGTCVKPI 1PUVTWEVKQPU UJQWNF DG CFJGTGF VQp
vp .QNNQY 1PUVTWEVKQPU o~NN QRGTCVKPI CPF WUG KPUVTWEVKQPU UJQWNF DG HQNNQYGFp
wp +NGCPKPI o=PRNWI VJKU RTQFWEV HTQO VJG YCNN QWVNGV DGHQTG ENGCPKPIp,Q PQV WUG NKSWKF ENGCPGTU QT CGTQUQN ENGCPGTUp=UG
C FCOR ENQVJ HQT ENGCPKPIp
xp ~VVCEJOGPVU o,Q PQV WUG CVVCEJOGPVU PQV TGEQOOGPFGF D[ VJG RTQFWEV OCPWHCEVWTGT CU VJG[ OC[ ECWUG JC\CTFUp
p ?CVGT CPF 5QKUVWTG o,Q PQV WUG VJKU RTQFWEV PGCT YCVGT oHQT GZCORNGnPGCT C DCVJ VWDnYCUJ DQYNnMKVEJGP UKPMnQT
NCWPFT[ VWD}KP C YGV DCUGOGPV}QT PGCT C UYKOOKPI RQQN}CPF VJG NKMGp
zp ~ RTQFWEV CPF ECTV EQODKPCVKQP UJQWNF DG OQXGF YKVJ ECTGp9WKEM UVQRUnGZEGUUKXG HQTEGnCPF WPGXGP
UWTHCEGU OC[ ECWUG VJG RTQFWEV CPF ECTV EQODKPCVKQP VQ QXGTVWTPp
{p >GPVKNCVKQP o;NQVU CPF QRGPKPIU KP VJG ECDKPGV CTG RTQXKFGF HQT XGPVKNCVKQP CPF VQ GPUWTG TGNKCDNG
QRGTCVKQP QH VJG RTQFWEV CPF VQ RTQVGEV KV HTQO QXGTJGCVKPInCPF VJGUG QRGPKPIU OWUV PQV DG DNQEMGF
QT EQXGTGFnJG QRGPKPIU UJQWNF PGXGT DG DNQEMGF D[ RNCEKPI VJG RTQFWEV QP C DGFnUQHCnTWInQT
QVJGT UKOKNCT UWTHCEGpJKU RTQFWEV UJQWNF PQV DG RNCEGF KP C DWKNV oKP KPUVCNNCVKQP UWEJ CU C DQQMECUG
QT TCEM WPNGUU RTQRGT XGPVKNCVKQP KU RTQXKFGF QT VJG OCPWHCEVWTGTjU KPUVTWEVKQPU JCXG DGGP CFJGTGF VQp
srp 8QYGT ;QWTEGU oJKU RTQFWEV UJQWNF DG QRGTCVGF QPN[ HTQO VJG V[RG QH RQYGT UQWTEG KPFKECVGF QP VJG OCTMKPI NCDGNn
KH [QW CTG PQV UWTG QH VJG V[RG QH RQYGT UWRRN[ VQ [QWT JQOGp+QPUWNV [QWT RTQFWEV FGCNGT QT NQECN RQYGT EQORCP[p.QT
RTQFWEVU KPVGPFGF VQ QRGTCVG HTQO DCVVGT[ RQYGTnQT QVJGT UQWTEGUnTGHGT VQ VJG QRGTCVKPI KPUVTWEVKQPUp
ssp /TQWPFKPI QT 8QNCTK\CVKQP oJKU RTQFWEV OC[ DG GSWKRRGF YKVJ C RQNCTK\GF CNVGTPCVKPIoEWTTGPV NKPG RNWI kC RNWI JCXKPI
QPG DNCFG YKFGT VJCP VJG QVJGTlp JKU RNWI YKNN HKV KPVQ VJG RQYGT QWVNGV QPN[ QPG YC[pJKU KU C UCHGV[ HGCVWTGp1H [QW
CTG WPCDNG VQ KPUGTV VJG RNWI HWNN[ KPVQ VJG QWVNGV VT[ TGXGTUKPI VJG RNWIn1H VJG RNWI UJQWNF UVKNN HCKN VQ HKVnEQPVCEV [QWT
GNGEVTKEKCP VQ TGRNCEG [QWT QDUQNGVG QWVNGVp,Q PQV FGHGCV VJG UCHGV[ RWTRQUG QH VJG RQNCTK\GF RNWIp
stp 8QYGT o+QTF 8TQVGEVKQP o8QYGT oUWRRN[ EQTFU UJQWNF DG TQWVGF UQ VJCV VJG[ CTG PQV NKMGN[ VQ
DG YCNMGF QP QT RKPEJGF D[ KVGOU RNCEGF WRQP QT CICKPUV VJGOnRC[KPI RCTVKEWNCT CVVGPVKQP VQ
EQTFU CV RNWIUnEQPXGPKGPEG TGEGRVCENGUnCPF VJG RQKPV YJGTG VJG[ GZKV HTQO VJG RTQFWEVp
sup 4KIJVPKPI o.QT CFFGF RTQVGEVKQP HQT VJKU RTQFWEV FWTKPI C NKIJVPKPI UVQTOnQT YJGP KV KU NGHV
WPCVVGPFGF CPF WPWUGF HQT NQPI RGTKQFU QH VKOGnWPRNWI KV HTQO VJG YCNN QWVNGV CPF FKUEQPPGEV
VJG CPVGPPC QT ECDNG U[UVGOpJKU YKNN RTGXGPV FCOCIG VQ VJG RTQFWEV FWG VQ NKIJVPKPI CPF RQYGT oNKPG UWTIGUp
svp 8QYGT 4KPGU o~P QWVUKFG CPVGPPC U[UVGO UJQWNF PQV DG NQECVGF KP VJG XKEKPKV[ QH QXGTJGCF RQYGT NKPGU QT QVJGT GNGEVTKE
NKIJV QT RQYGT EKTEWKVUnQT YJGTG KV ECP HCNN KPVQ UWEJ RQYGT NKPGU QT EKTEWKVUp?JGP KPUVCNNKPI CP QWVUKFG CPVGPPC U[UVGOn
GZVTGOG ECTG UJQWNF DG VCMGP VQ MGGR HTQO VQWEJKPI UWEJ RQYGT NKPGU QT EKTEWKVU CU EQPVCEV YKVJ VJGO OKIJV DG HCVCNp
swp 7XGTNQCFKPI o,Q PQV QXGTNQCF YCNN QWVNGVUnGZVGPUKQP EQTFUnQT KPVGITCN EQPXGPKGPEG TGEGRVCENGU CU VJKU ECP TGUWNV
KP C TKUM QH HKTG QT GNGEVTKE UJQEMp
sxp 7DLGEV CPF 4KSWKF -PVT[ o6GXGT RWUJ QDLGEVU QH CP[ MKPF KPVQ VJKU RTQFWEV VJTQWIJ QRGPKPIU CU VJG[ OC[ VQWEJ
FCPIGTQWU XQNVCIG RQKPVU QT UJQTV oQWV RCTVU VJCV EQWNF TGUWNV KP C HKTG QT GNGEVTKE UJQEMp6GXGT URKNN NKSWKF QH CP[ MKPF
QP VJG RTQFWEVp
s p ;GTXKEKPI o,Q PQV CVVGORV VQ UGTXKEG VJKU RTQFWEV [QWTUGNH CU QRGPKPI QT TGOQXKPI EQXGTU OC[ GZRQUG [QW VQ FCPIGTQWU
XQNVCIG QT QVJGT JC\CTFUp:GHGT CNN UGTXKEKPI VQ SWCNKHKGF UGTXKEG RGTUQPPGNp
szp ,COCIG :GSWKTKPI ;GTXKEG o=PRNWI VJKU RTQFWEV HTQO VJG YCNN QWVNGV CPF TGHGT UGTXKEKPI VQ SWCNKHKGF UGTXKEG RGTUQPPGN
WPFGT VJG HQNNQYKPI EQPFKVKQPU}
Cp?JGP VJG RQYGToUWRRN[ EQTF QT RNWI KU FCOCIGFp
Dp1H NKSWKF JCU DGGP URKNNGFnQT QDLGEVU JCXG HCNNGP KPVQ VJG RTQFWEVp
Ep1H VJG RTQFWEV JCU DGGP GZRQUGF VQ TCKP QT YCVGTp
Fp1H VJG RTQFWEV FQGU PQV QRGTCVG PQTOCNN[ D[ HQNNQYKPI VJG QRGTCVKPI KPUVTWEVKQPUp~FLWUV QPN[ VJQUG EQPVTQNU VJCV
CTG EQXGTGF D[ VJG QRGTCVKPI KPUVTWEVKQPU CU CP KORTQRGT CFLWUVOGPV QH QVJGT EQPVTQNU OC[ TGUWNV KP FCOCIG CPF
YKNN QHVGP TGSWKTG GZVGPUKXG YQTM D[ C SWCNKHKGF VGEJPKEKCP VQ TGUVQTG VJG RTQFWEV VQ KVU PQTOCN QRGTCVKQPp
Gp1H VJG RTQFWEV JCU DGGP FTQRRGF QT FCOCIGF KP CP[ YC[p
Hp?JGP VJG RTQFWEV GZJKDKVU C FKUVKPEV EJCPIG KP RGTHQTOCPEG oVJKU KPFKECVGU C PGGF HQT UGTXKEGp
s{p :GRNCEGOGPV 8CTVU o?JGP TGRNCEGOGPV RCTVU CTG TGSWKTGFnDG UWTG VJG UGTXKEG VGEJPKEKCP JCU WUGF TGRNCEGOGPV
RCTVU URGEKHKGF D[ VJG OCPWHCEVWTGT QT JCXG VJG UCOG EJCTCEVGTKUVKEU CU VJG QTKIKPCN RCTVp=PCWVJQTK\GF UWDUVKVWVKQPU
OC[ TGUWNV KP HKTGnGNGEVTKE UJQEMnQT QVJGT JC\CTFUp
trp ;CHGV[ +JGEM o=RQP EQORNGVKQP QH CP[ UGTXKEG QT TGRCKTU VQ VJKU RTQFWEVnCUM VJG UGTXKEG VGEJPKEKCP VQ RGTHQTO UCHGV[
EJGEMU VQ FGVGTOKPG VJCV VJG RTQFWEV KU KP RTQRGT QRGTCVKPI EQPFKVKQPp
tsp ?CNN QT EGKNKPI 5QWPVKPI oJG RTQFWEV UJQWNF DG OQWPVGF VQ C YCNN QT EGKNKPI QPN[ CU TGEQOOGPFGF D[ VJG OCPWHCEVWTGTp
ttp 0GCV oJG RTQFWEV UJQWNF DG UKVWCVGF CYC[ HTQO JGCV UQWTEGU UWEJ CU TCFKCVQTUp0GCV TGIKUVGTUnUVQXGUnQT QVJGT
RTQFWEVU kKPENWFKPI CORNKHKGTUlVJCV RTQFWEG JGCVp
K6GC>C<5 +JCPIGU QT OQFKHKECVKQPU VQ VJKU WPKV PQV GZRTGUUN[ CRRTQXGF D[ VJG RCTV[ TGURQPUKDNG HQT EQORNKCPEG EQWNF
XQKF VJG WUGT^U CWVJQTKV[ VQ QRGTCVG VJG GSWKROGPVp
CDI:5 JKU GSWKROGPV JCU DGGP VGUVGF CPF HQWPF VQ EQORN[ YKVJ VJG NKOKVU HQT C +NCUU * FKIKVCN FGXKEGnRWTUWCPV VQ 8CTV
sw QH VJG .++ :WNGUpJGUG NKOKVU CTG FGUKIPGF VQ RTQXKFG TGCUQPCDNG RTQVGEVKQP CICKPUV JCTOHWN KPVGTHGTGPEG KP C TGUKFGPVKCN
KPUVCNNCVKQPpJKU GSWKROGPV IGPGTCVGUnWUGUnCPF ECP TCFKCVG TCFKQ HTGSWGPE[ GPGTI[ CPFnKH PQV KPUVCNNGF CPF WUGF KP
CEEQTFCPEG YKVJ VJG KPUVTWEVKQPUnOC[ ECWUG JCTOHWN KPVGTHGTGPEG VQ TCFKQ EQOOWPKECVKQPUp0QYGXGTnVJGTG KU PQ IWCTCPVGG
VJCV KPVGTHGTGPEG YKNN PQV QEEWT KP C RCTVKEWNCT KPUVCNNCVKQPp1H VJKU GSWKROGPV FQGU ECWUG JCTOHWN KPVGTGHGTGPEG VQ TCFKQ QT
VGNGXKUKQP TGEGRVKQPnYJKEJ ECP DG FGVGTOKPGF D[ VWTPKPI VJG GSWKROGPV QHH CPF QP nVJG WUGT KU GPEQWTCIGF VQ VT[ VQ EQTTGEV
VJG KPVGTHGTGPEG D[ QPG QT OQTG QH VJG HQNNQYKPI OGCUWTGU|
o:GQTKGPV QT TGNQECVG VJG TGEGKXKPI CPVGPPCp
o1PETGCUG VJG UGRCTCVKQP DGVYGGP VJG GSWKROGPV CPF TGEGKXGTp
o+QPPGEV VJG GSWKROGPV KPVQ CP EKTEWKV FKHHGTGPV HTQO VJCV VQ YJKEJ VJG TGEGKXGT KU EQPPGEVGFp
o
+QPUWNV VJG FGCNGT QT CP GZRGTKGPEGF TCFKQ > VGEJPKEKCP HQT JGNRp
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