Vector Alpha User manual

2SHUDWLRQ0DQXDO
$/3+$
8QLYHUVDO$PSOLILHU


 6HSWHPEHUE\9(&725
$OOULJKWVUHVHUYHG1RSDUWRIWKLVERRNPD\EHUHSURGXFHGLQDQ\IRUPRUE\DQ\PHDQVZLWKRXWSHUPLVVLRQLQ
ZULWLQJIURP9(&725


7DEOHRIFRQWHQWV

*(1(5$/,1)250$7,21  
,QWURGXFWLRQWRPDQXDO  
*HQHUDOLQVWDOODWLRQFRQGLWLRQV 
5HFHLYLQJWKHXQLWDQGLQVSHFWLRQ 
6WRUDJH  
)81&7,21$/'(6&5,37,21  
*HQHUDOFKDUDFWHULVWLF  
)XQFWLRQDOEORFNGLDJUDP  
)RUZDUGSDWK  
)RUZDUGSDWKDPSOLILHU 
$GMXVWPHQWRILQSXWOHYHO
,QWHUVWDJHDGMXVWPHQW 
2XWSXW 
7HVWSRLQWV
5HWXUQSDWK  
'LSOH[ILOWHUV 
5HWXUQDPSOLILHU 
6LJQDODGMXVWPHQW
7HVWSRLQW 
3RZHULQJ 
3OXJLQPRGXOHV 
(4)L[HG(TXDOL]HU 
(99DULDEOH(TXDOL]HU
&6&DEOH6LPXODWRU 
$7)L[HG$WWHQXDWRU
$4)L[HG$WWHQXDWRUDQG(TXDOL]HU 
')'LSOH[)LOWHUV 
5$5HWXUQ3DWK$PSOLILHU 
535HWXUQ3DWK3DVVLYH0RGXOH 
$7=HURG%-XPSHUV 
722XWSXWVLJQDO6SOLWWHURU7DS 
$/3+$PRGXOHVDUUDQJHPHQW 
+RXVLQJ 
+RXVLQJRYHUYLHZ 
$/3+$7(&+1,&$/63(&,),&$7,21 
)RUZDUGSDWK  
5HWXUQSDWK  
,QSXWVDQGRXWSXWV 
6ZLWFKHG0RGH3RZHU6XSSO\  
+RXVLQJ 
02817,1*  

3UHSDULQJIRUDPSOLILHULQVWDOODWLRQ  
,QVWDOODWLRQ 
*URXQGLQJ  
&DEOHFRQQHFWLRQ 
&21),*85$7,21$1'6(783  
)XVLQJ 
&RQILJXUDWLRQ±SOXJLQPRGXOHV 
)RUZDUGFKDQQHOSOXJLQPRGXOHV
5HWXUQFKDQQHOSOXJLQPRGXOHV 
6HWXS  
)RUZDUGFKDQQHO
5HYHUVHFKDQQHO5$DQG53PRGXOHV 
&RYHUFORVLQJ  
 $33(1',;$ 

8QLYHUVDO$PSOLILHU$/3+$2SHUDWLRQ0DQXDO
-DQXDU\ S
*(1(5$/,1)250$7,21
 ,QWURGXFWLRQWRPDQXDO
7KLVPDQXDOFRQWDLQVLQIRUPDWLRQQHHGHGWRSURSHUO\LQVWDOODQGRSHUDWH
9(&725¶V
$/3+$$PSOLILHU
7KHLQVWUXFWLRQVLQWKLVPDQXDOGRQRWFRYHUDOOGHWDLOVRQWKHHTXLSPHQWLW
VXSSRUWVQRUGRWKH\SURYLGHVROXWLRQVIRUDOOFLUFXPVWDQFHVWKDWFRXOGDULVHGXULQJ
HTXLSPHQWPDLQWHQDQFH7KHLQVWUXFWLRQVLQFOXGHGDUHLQWHQGHGWREHSHUIRUPHGE\
H[SHULHQFHG&$79VHUYLFHWHFKQLFLDQVRQO\

7KHLQIRUPDWLRQLQWKLVPDQXDOLVVXEMHFWWRFKDQJHZLWKRXWQRWLFH

,I\RXKDYHDQ\TXHVWLRQVRUUHPDUNVUHJDUGLQJWKLVSXEOLFDWLRQSOHDVHFRQWDFW
9(&725
XO6 G]LFNLHJR
*G\QLD
32/$1'
WHO 
ID[
HPDLO YHFWRU#YHFWRUFRPSO
RU\RXUQHDUHVW9(&725UHSUHVHQWDWLYH

 *HQHUDOLQVWDOODWLRQFRQGLWLRQV
9(&725JXDUDQWHHVSURSHUZRUNLQJRIWKH$/3+$DPSOLILHUVLIRSHUDWLQJLQ
DFFRUGDQFHZLWKWKHLQVWUXFWLRQVLQWKLVPDQXDO$OOLQVWUXFWLRQVLQWKLVPDQXDO
VKRXOGEHUHYLHZHGFDUHIXOO\EHIRUHDQ\SURFHGXUHVDUHSHUIRUPHG
9(&725LVQRWUHVSRQVLEOHIRUDQ\SHUVRQDOLQMXULHVRUHTXLSPHQWGDPDJHFDXVHG
E\LPSURSHULQVWDOODWLRQRURSHUDWLRQRIWKHXQLWV
0RGLILFDWLRQVRUDOWHUDWLRQVRI9(&725SURGXFWVLQFOXGLQJEXWQRWOLPLWHGWR
LQVWDOODWLRQRI
QRQ9(&725HTXLSPHQWH[FHSWDVSHUIRUPHGE\9(&725ZLOOYRLGWKHZDUUDQW\

 5HFHLYLQJWKHXQLWDQGLQVSHFWLRQ
%HIRUHVKLSPHQW9(&725SDFNVDQGLQVSHFWVDOOLWHPVFDUHIXOO\1HYHUWKHOHVV
GDPDJHPD\RFFXUGXULQJVKLSPHQW,QVSHFWLRQPXVWEHSHUIRUPHGZKHQ
XQSDFNLQJWKHHTXLSPHQWEHIRUHLQVWDOODWLRQGRQRWGHVWUR\VKLSSLQJFDUWRQVXQWLO
LQVWDOODWLRQLVFRPSOHWHLISRVVLEOHUHWDLQLWIRUIXWXUHHTXLSPHQWUHVKLSPHQWRU
VWRUDJH
,QVSHFWXQLWIRU
GDPDJHGKRXVLQJFRYHURULQSXWRXWSXWSRUWV
PLVVLQJSDUWV±LQWKHFDUWRQVKRXOGEHXQLYHUVDOPRXQWLQJEUDFNHWVDWWDFKHG
RWKHUSDUWVSOXJLQFRQILJXUDWLRQPRGXOHVDQGIXVHVVKRXOGEHLQVLGHWKH
DPSOLILHU¶VKRXVLQJ
,IDQ\SUREOHPVDULVHGXULQJLQYHQWRU\RULIIRUDQ\UHDVRQHTXLSPHQWQHHGVWREH
UHWXUQHGWRPDQXIDFWXUHUSOHDVHFRQWDFW9(&725¶VVDOHVRIILFHIRUDVVLVWDQFH

 6WRUDJH
$/3+$DPSOLILHUVFDQEHVWRUHGZLWKRXWDQ\GHJUDGDWLRQRISDUDPHWHUVGXULQJ
PRQWKVDIWHUPDQXIDFWXULQJ6WDQGDUGDWPRVSKHULFFRQGLWLRQVIRUVWRULQJ
DFFRUGLQJO\WR,(&QRUPWHPSHUDWXUH&KXPLGLW\±
SUHVVXUH±K3D


8QLYHUVDO$PSOLILHU$/3+$2SHUDWLRQ0DQXDO
-DQXDU\ S
)81&7,21$/'(6&5,37,21
 *HQHUDOFKDUDFWHULVWLF

7KH$/3+$IDPLO\FRQVLVWVRIWKHIROORZLQJDPSOLILHUV
$/3+$8;$)<
$/3+$8;$(<
$/3+$8;%-<
$/3+$8;$(<LVHTXLSSHGZLWK*D$63RZHU'RXEOLQJRXWSXWVWDJH
$/3+$8;$)<LVHTXLSSHGZLWK*D$63XVK3XOORXWSXWVWDJH
$/3+$8;%-<LVHTXLSSHGZLWK6L3XVK3XOORXWSXWVWDJH

$/3+$DPSOLILHUV
ZDVGHVLJQHGIRUDSSOLFDWLRQLQPRGHUQELGLUHFWLRQDO&$79DQG
WHOHFRPPXQLFDWLRQV\VWHPV

QHZ*D$V±)(7WHFKQRORJ\XVHGLQWKHIRUZDUGSDWKRXWSXWVWDJHRI$/3+$
8;$)<DQG$/3+$8;$(<SURYLGHVH[WUHPHO\KLJKRXWSXWVLJQDO
OHYHOZKLOHUHGXFLQJDPSOLILHU¶VSRZHUFRQVXPSWLRQ

DOORZIRUIOH[LEOHUHWXUQSDWKFRQILJXUDWLRQGXHWRSOXJLQGLSOH[ILOWHUV3XVK3XOO
DPSOLILHURUDGMXVWDEOHSDVVLYHPRGXOHLWSURYLGHVRSWLPDOFKRLFHIRURSHUDWRU¶V
UHTXLUHPHQWV

PD\EHSRZHUHGWKRXJKDQ\RQHRIWKUHH5)SRUWVRUDGGLWLRQDOORFDOSRZHULQJ
SRUW7KHSRZHUVXSSO\VHFWLRQDFFHSWVTXDVLVTXDUHZDYHLQSXWVIURP9$&
DQGJHQHUDWHVDOOQHFHVVDU\'&YROWDJHVUHTXLUHGE\WKHDPSOLILHU¶VHOHFWURQLF

PHHW&(1(/(&WHFKQLFDOUHTXLUHPHQWV(1·,(&,(&
DQGJXDUDQWHHVHOHFWURPDJQHWLFFRPSDWLELOLW\


8QLYHUVDO$PSOLILHU$/3+$2SHUDWLRQ0DQXDO
-DQXDU\ S
 )XQFWLRQDOEORFNGLDJUDP

)LJ)XQFWLRQDOEORFNGLDJUDPRIWKH$/3+$DPSOLILHU

 )RUZDUGSDWK
7KHIRUZDUGSDWKVHFWLRQSURYLGHVDPSOLILFDWLRQRI5)VLJQDOVUHFHLYHGIURPWKH
DPSOLILHU¶VLQSXWSRUW,WSHUIRUPVLQSXWDWWHQXDWLRQIRUDGMXVWPHQWRIVLJQDOOHYHO
DQGFDEOHVORSHFRPSHQVDWLRQDVZHOODVLQWHUVWDJHWLOWRULQWHUVWDJHJDLQFRQWURO
$IWHUDPSOLILFDWLRQRIWKHIRUZDUG5)VLJQDOWRWKHILQDORXWSXWOHYHOLWLVVSOLWDQG
GLUHFWHGWRZDUGWZRRXWSXWSRUWV7KHORFDWLRQRIWKHPDLQIRUZDUGSDWKHOHPHQWVLV
SUHVHQWHGLQWKH)LJ

 )RUZDUGSDWKDPSOLILHU
7KHIRUZDUGSDWK5)DPSOLILHUFRQVLVWVRIWZRLQSXWVWDJHVIROORZHGE\DK\EULG
3RZHU'RXEOLQJRXWSXWVWDJHLQ$/3+$8;$(<DPSOLILHUDQG3XVK3XOO
RXWSXWVWDJHLQ$/3+$8;$)<DQG$/3+$8;%-<DPSOLILHUV,W
HQDEOHVH[WUHPHO\KLJKRXWSXWVLJQDO¶VOHYHO/RZQRLVHLQSXWVWDJHSURYLGHVORZ
QRLVHILJXUH)RIWKHDPSOLILHUDQGKLJKFDUULHUWRQRLVHUDWLR&17KHYHU\KLJK
JDLQG%LVFRQVLVWHQWZLWKWKHKLJKRXWSXWOHYHO


8QLYHUVDO$PSOLILHU$/3+$2SHUDWLRQ0DQXDO
-DQXDU\ S
 $GMXVWPHQWRILQSXWOHYHO
)RUZDUG5)VLJQDOUHFHLYHGIURPWKHFDEOHHQWHUVWKHDPSOLILHUWKURXJKLQSXW5)
SRUW7KHQLWLVDWWHQXDWHGDQGHTXDOLVHGLQRUGHUWRHVWDEOLVKSURSHUOHYHODQGIODW
FKDUDFWHULVWLFDWWKHLQSXWVWDJHRIWKHDPSOLILHU%RWKDWWHQXDWLRQDQGVORSHFRQWURO
LVDFKLHYHGE\SOXJLQPRGXOHV$WWHQXDWRUPRGXOHVDUHDYDLODEOHLQWZRYHUVLRQV
IL[HG$7RUYDULDEOH$9 ,QDGGLWLRQHTXDOL]HUPRGXOHVDUHDYDLODEOHDVIL[HG(4
RUYDULDEOH(9 ,QFDVHWKHLQSXWVLJQDOKDVDWLOWVORSHGRZQFDXVHGE\DWLOWLQ
WKHSUHYLRXVDPSOLILHUFDEOHVLPXODWRU&6PRGXOHVDUHDYDLODEOHWRFRUUHFWWKH
SUREOHP

 ,QWHUVWDJHDGMXVWPHQW
7KHLQWHUVWDJHSRVLWLRQSURYLGHVWKHSRVVLELOLW\WRDGMXVWRXWSXWVLJQDO¶VOHYHODQGWLOW
XVLQJSOXJLQPRGXOHVIL[HGDWWHQXDWRU$7RUIL[HGHTXDOL]HU(4XVLQJWKHVDPH
PRGXOHVDVIRUWKHLQSXWDGMXVWPHQWVRUIL[HGDWWHQXDWRUDQGHTXDOL]HULQRQH
PRGXOH$4 ,ILQWHUVWDJHDGMXVWPHQWLVQRWXVHG$7G%MXPSHUPRGXOH
PXVWEHLQVWDOOHGIRUSURSHURSHUDWLRQ
,QWHUVWDJHWLOWDOORZVLQFUHDVLQJDPSOLILHU¶VRXWSXWOHYHOZLWKRXWGHJUDGDWLRQRIQRLVH
ILJXUH7KHWDEOHEHORZVKRZVWKHLQIOXHQFHRIGLIIHUHQWYDOXHVIRUWKHWLOWRQ$/3+$
DPSOLILHU¶VRXWSXWOHYHODQGQRLVHILJXUH)LJXUHVDUHYDOLGIRUFKDQQHOV
&(1(/(&

,QWHUVWDJH
7LOWYDOXH
2XWSXWOHYHOVLQFUHDVH
DW&7%&62 G%
FRQVW
1RLVHILJXUH
LQFUHDVH
 G% G% G%
 G% G% G%
 G% G% G%
G% G% G%
7DEOH,QWHUVWDJHWLOWYVDPSOLILHUVSDUDPHWHUV

,QWHUVWDJHDWWHQXDWLRQRQWKHRWKHUKDQGDOORZVWRORZHUDPSOLILHU¶VJDLQZKLOHVWLOO
NHHSLQJ&1KLJK7KHQRLVHILJXUHRIWKH$/3+$DPSOLILHULVDOPRVWNHSWZLWKRXW
GHJUDGDWLRQ+RZHYHUDVPDOOGHFUHDVHRIRXWSXWOHYHOFDQEHREVHUYHG

 2XWSXW
$IWHUDPSOLILFDWLRQLQWKHRXWSXWVWDJHD5)VLJQDOLVGLUHFWHGWRZDUGWKHRXWSXW
SRUWV7KHUHDUHWZRRXWSXWSRUWVLQWKH$/3+$DPSOLILHU6LJQDOLVVSOLWEHWZHHQ
WKHVHWZRSRUWVE\DSOXJLQ72RXWSXWPRGXOH

 7HVWSRLQWV
$WWKHLQSXWDQGWKHRXWSXWDWHVWSRLQWLVSURYLGHG7KHUHDUHELGLUHFWLRQDODWWKH
LQSXWDQGGLUHFWLRQDODWWKHRXWSXWG%WHVWSRLQWVZLWKW\SLFDO)FRQQHFWRUV
(DV\DFFHVVLEOHWKH\HQDEOHSUHFLVHPHDVXUHPHQWVRIIRUZDUGDQGUHYHUVHSDWK
VLJQDOOHYHOV

5(0(0%(5WKHFKDUDFWHULVWLFIUHTXHQF\UHVSRQVHRIELGLUHFWLRQDOWHVWSRLQWV
GHSHQGVYHU\PXFKRQWKHDFWXDOUHWXUQORVVRIWKHFRQQHFWHGLQSXWRXWSXWFDEOH

 5HWXUQSDWK
7KHUHWXUQSDWK5)VHFWLRQDFFHSWVLQSXWVIURPHDFKRIWZRSRUWVRXWSXWSRUWVLQ
WKHIRUZDUGGLUHFWLRQ7KHUHYHUVH5)VLJQDOVDUHGLUHFWHGWRDSDWKWKDWLV
VHSDUDWHGIURPWKHIRUZDUG5)VLJQDOV7KHSOXJLQGLSOH[ILOWHUDWWKHDPSOLILHUV

8QLYHUVDO$PSOLILHU$/3+$2SHUDWLRQ0DQXDO
-DQXDU\ S
RXWSXWHIIHFWXDWHVVHSDUDWLRQ7KHUHYHUVHVLJQDOPD\EHDPSOLILHGRUSDVVHG
WKURXJKZLWKRXWDPSOLILFDWLRQSDVVLYH,QERWKVLWXDWLRQVLWLVSRVVLEOHWRDGMXVW
UHYHUVHVLJQDOVVORSHDQGDWWHQXDWLRQWRHVWDEOLVKXQLW\OHYHOV$IWHUDGMXVWPHQWWKH
VLJQDOLVIRUZDUGHGWRWKHVHFRQGGLSOH[ILOWHUFRPELQHGZLWKWKHLQFRPLQJIRUZDUG
VLJQDOVDQGSDVVHGWRWKHQH[WDPSOLILHUYLDWKHLQSXWFDEOH
/RFDWLRQRIDOOHOHPHQWVLVSUHVHQWHGLQWKH)LJ

 'LSOH[ILOWHUV
7KH$/3+$DPSOLILHUXVHVSOXJLQGLSOH[ILOWHUPRGXOHV') WRSURYLGHVHSDUDWLRQ
EHWZHHQIRUZDUGDQGUHWXUQSDWKIUHTXHQF\EDQGV')PRGXOHVDUHLQVWDOOHGDWWKH
DPSOLILHU¶VLQSXWDQGRXWSXWEHWZHHQRXWSXWVWDJHDQGRXWSXWVSOLWWHU7KLVSOXJLQ
VROXWLRQDOORZVIOH[LELOLW\LQWKHUHWXUQSDWKFRQILJXUDWLRQ±IUHHFKRLFHRIUHWXUQSDWK
IUHTXHQF\UDQJH
,IWKHUHWXUQSDWKLVQRWXVHGMXPSHUPRGXOHV$7PXVWEHLQVWDOOHGLQVWHDGRI
')PRGXOHV

 5HWXUQDPSOLILHU
7KHUHWXUQSDWKDPSOLILHUSURYLGHVDPSOLILFDWLRQDQGDGMXVWPHQWRILQFRPLQJ
UHYHUVHSDWKVLJQDOVIURPWKHWZRRXWSXWSRUWV7KHDPSOLILHULVDYDLODEOHDVDSOXJ
LQPRGXOH5$7KHLPSOHPHQWHG3XVK3XOODUFKLWHFWXUHSURYLGHVYHU\KLJKRXWSXW
OHYHOXSWRG%P9 ',1%DVZHOODVYHU\KLJKJDLQXSWRG%
PHDVXUHGIRUPRGXOHDORQH
,IUHYHUVHVLJQDODPSOLILFDWLRQLVQRWQHFHVVDU\DSDVVLYHUHWXUQPRGXOHFDQEH
LQVWDOOHGLQVWHDG7KHUHLVDSRVVLELOLW\WRLQVWDOODSDVVLYH53PRGXOHZLWKOHYHO
DGMXVWPHQWSRVVLELOLWLHVRUDVLPSOH$7MXPSHUPRGXOH

 6LJQDODGMXVWPHQW
5HWXUQSDWKPRGXOHV5$DQG53DUHHTXLSSHGZLWKDGMXVWPHQWHOHPHQWVG%
YDULDEOHDWWHQXDWRUIRUOHYHODGMXVWPHQWDQGG%YDULDEOHHTXDOL]HUIRUFDEOH
VORSHFRPSHQVDWLRQ7KHRXWJRLQJVLJQDOLVWKXVDGMXVWDEOHWRHVWDEOLVKXQLW\OHYHO
LQWKHUHYHUVHSDWK

 7HVWSRLQW
$ GLUHFWLRQDO±G%WHVWSRLQWLVORFDWHGDWWKHLQSXWRIWKHUHYHUVHSDWKPRGXOHV
5$DQG53,WHQDEOHVPHDVXULQJRILQFRPLQJUHWXUQVLJQDOVGLUHFWO\DWWKHLQSXWRI
WKHUHYHUVHDPSOLILHU(DV\DFFHVVLEOH)FRQQHFWRUHQDEOHVTXLFNDQGFRQYHQLHQW
PHDVXUHPHQWV

 3RZHULQJ
3RZHULQJRIWKH$/3+$DPSOLILHULVSRVVLEOHWKURXJKDQ\RQHRIWKHWKUHH5)SRUWV
LQSXWDQGWZRRXWSXWV,QDGGLWLRQWKHORFDOSRZHULQJSRUWDWWKHOHIWVLGHRIWKH
SRZHUVXSSO\VHFWLRQLVDOVRDYDLODEOHWRSRZHUWKHXQLW4XDVLVTXDUHZDYHLQSXW
YROWDJHLQDYHU\ZLGHUDQJH9$&LVDFFHSWHG
$ VZLWFKHGPRGHSRZHUVXSSO\6036SURYLGHVSURSHU'&YROWDJHLQSXWWRWKH
HOHFWURQLFV$PDLQ6036IXVHSURWHFWVWKHSRZHUVXSSO\,WPXVWEHLQVWDOOHGWR
HQDEOHDPSOLILHU¶VSRZHULQJ7KHDPSOLILHUFDQEHFRQILJXUHGWRSDVV$&SRZHUXS
WR$WKURXJK5)SRUWVWRRWKHUDPSOLILHUVLQDQ\GLUHFWLRQ,WLVDOVRSRVVLEOHWR
SDVVWKHSRZHUWKURXJKDGGLWLRQDO$&SRUWPD[$WRDQRWKHUORFDODPSOLILHULQ
WKHVDPHFDELQHW7KHLQSXWRXWSXWSRUWDQG$&SRUWIXVHVGHWHUPLQHWKHSRZHULQJ
VFKHPH$OOIXVHVDUH³VORZEORZ´W\SHV7KHLUYDOXHVDUHSUHVHQWHGLQWKHQH[W
VHFWLRQ³&RQILJXUDWLRQDQGVHWXS´
6XUJHDUUHVWRUVDUHSODFHGDWDOOLQSXWRXWSXWSRUWVSURYLGLQJRYHUYROWDJH
SURWHFWLRQDQGKLJKO\LQFUHDVLQJDPSOLILHU¶VUHOLDELOLW\


8QLYHUVDO$PSOLILHU$/3+$2SHUDWLRQ0DQXDO
-DQXDU\ S
)LJ3RZHUGLVWULEXWLRQEORFNGLDJUDP

$GYDQFHGWHFKQRORJLFDOVROXWLRQVDUHDSSOLHGLQ6036DUFKLWHFWXUHSURYLGLQJKLJK
JUDGHRIHIILFLHQF\DQGYHU\ORZSRZHUFRQVXPSWLRQZKLOHDFFHSWLQJDYHU\ZLGH
UDQJHRILQSXWYROWDJHV7KHUHFRPPHQGHGYROWDJHUDQJHLV9$&EXW
SURSHUZRUNLQJRI6036LVJXDUDQWHHGZLWKLQWKH9$&UDQJH/RZSRZHU
FRQVXPSWLRQFRPELQHGZLWKH[WHQVLYHYROWDJHUDQJHUHGXFHVQXPEHUDQGFRVWRI
WKHHQWLUH&$79V\VWHP¶VUHPRWHSRZHUVXSSO\GHYLFHV

 3OXJLQPRGXOHV
7KHUHLVDZLGHUDQJHRIDGGLWLRQDOSOXJLQPRGXOHVDYDLODEOHIRU$/3+$DPSOLILHUV
(DV\WRLQVWDOOWKH\SURYLGHRSWLPDOFRQILJXUDWLRQRIHDFKDPSOLILHUDFFRUGLQJO\WR
UHTXLUHPHQWVRILQGLYLGXDO&$79QHWZRUN7KH$/3+$SOXJLQPRGXOHVDUH
VWDQGDUGLVHGHOHPHQWVDOVRXVHGLQRWKHUDPSOLILHUVPDQXIDFWXUHGE\9(&725

%HORZ\RXFDQILQGSOXJLQPRGXOHV¶OLVWDQGVSHFLILFDWLRQV

 (4)L[HG(TXDOL]HU
± IRUOLQHHTXDOL]DWLRQRIWKHIRUZDUGSDWKRUDVLQWHUVWDJHVORSHDGMXVWPHQWWR
LPSURYHV\VWHPGLVWRUWLRQV¶SHUIRUPDQFH'HVLJQHGIRUGLIIHUHQWIUHTXHQF\UDQJHV
DQGSURYLGLQJIRUZDUGIUHTXHQF\UDQJHIOH[LELOLW\FKDQJHDEOHWRHJ
0+]

7\SH )UHT5DQJH $WWHQXDWLRQ#0+]
(4[[ ±0+] G%VWHSG%
(4[[ ±0+] G%VWHSG%
(4[[ ±0+] G%VWHSG%
(4[[ ±0+] G%VWHSG%
$WWHQWLRQ[[V\PEROVFRUUHVSRQGWRDWWHQXDWLRQDW0+]
 ([DPSOH (4±(TXDOL]HUG%0+]
$WWHQXDWLRQRIIL[HGHTXDOL]HUV(4[[>G%@

7\SH 0+] 0+] 0+] 0+] 0+] 0+] 0+] 0+]
(4        
(4        
(4        
(4        
$

$

6036
,1387
287387287387

$&

$

$

$


8QLYHUVDO$PSOLILHU$/3+$2SHUDWLRQ0DQXDO
-DQXDU\ S
(4        
(4        
(4        
(4        
(4        
(4        
(4        
(4        
(4        
(4        
(4        
(4        
(4        
(4        
(4        
(4        
(4        
(4        
(4        
(4        
(4        
 (99DULDEOH(TXDOL]HU
± IRUFRQWLQXRXVIRUZDUGSDWK¶VHTXDOL]DWLRQ'HVLJQHGIRUGLIIHUHQWIUHTXHQF\
UDQJHVSURYLGHVDIRUZDUGIUHTXHQF\UDQJHIOH[LELOLW\FKDQJHDEOHWRHJ
0+]

7\SH )UHTUDQJH $WWHQXDWLRQ#0+]
(9 ±0+] G%
(9 ±0+] G%
(9 ±0+] G%
(9 ±0+] G%
 &6&DEOH6LPXODWRU
± XVHGLQVWHDGRIDQLQSXWHTXDOL]HUPRGXOHLIDQLQSXWVLJQDO¶VVORSHLVLQYHUWHG
'HVLJQHGIRUGLIIHUHQWIUHTXHQF\UDQJHVSURYLGLQJIOH[LEOHIRUZDUGIUHTXHQF\
UDQJH

7\SH )UHT5DQJH $WWHQXDWLRQDWXSSHU
IUHTXHQF\
&6[ ±0+] G%
&6[ ±0+] G%
&6[ ±0+] G%
&6[ ±0+] G%
$WWHQWLRQ [V\PEROFRUUHVSRQGVWRDWWHQXDWLRQDWKLJKIUHTXHQF\
 ([DPSOH &6±&DEOHVLPXODWRUG%IRUEDQGZLGWK0+]
