Bangladesh Labour Law - 2006

9JG>JV4? ?
r;
AV6=
6G
6
J
9JG>JV4? ?r; J 6
O
O
O
(<0< :
O
O
O
O
O
O
O
*r&. (X<7 : *r<0=UT

O AGK{ K?V=J6J; 79/q6 9G 7VEJ"O
O AGJA;PBO
=t$>7 (X<7 : =)G7<
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
< @0>0 2$Y<,1>
%J N=L= ?/qJ9>LO
?rK; "V.= U?r.LK9:J" K?{J6K9?L J>O
K6VEJ" 7 7K=%E7O
AJK:qA 9KBO
AJK:qA 9 VE= 8=;O
AJK:qA 9 VE eb:qMKyO
?rK; U=K'J= 9G K*V *
J,q A=9=JBO
&MK*= 7K/O
9pKE/ &MK*= ;'M=L 74J6O
J' 9 =J!JO
7K/J6 9 =J!JO
K/7E U{V 9FA= &E ;JA 9G ;'M=L ".6JO
5J=J
9G
7VEJV"= U{V 9J5J K6V@5O
U> 8 S/ ?rK; "V.= {K/7P=V.= K5 J=O
U> 8 T/ ?rK; "V.= ;JJ= U=J>O
K/7E U{V U> 8 T/ ?rK; ". {K/7P=. 7J 9J= K5 J=L
B V96 6JO
;S/Np 'K6/ AMK95JO
&IJ*J O
&IJ*J T/ ?rK;V = 7M6H K6VEJ"O
%J N=L B V/ K,A%J'qO
A4J%=. 9G 4 7JK= U-V ?JKvbO
3
?JKvb= 7K/O
'K=;J6J AlV q K9V?@ K95J6O
9=!Jvb /pJK4 9p/L/ 6p:JV9 ;JK>
9AJ6O
?rK; /Tq %J N=L= 9AJ6O
?rK;V = 9A= "B.O
:K9@p /BK9> 7K=V?J5O
?rK;V = %PCJeb 7J 6J 7K=V?JV5= U;EJ4O
%J N=L= 7/pE6 7O
9JAv]J6 B V/ V_&4O
K:V<J" 7K/O
/Tq
?rK;V = %J N=L=
$E$>7 (X<7 : = G2<0 2Z=. =)G7<

O
O
O
O
O
O
O
O
O
O
O
K?
K V?J= K6VEJV" 9J5J K6V@5O
K? AGzJeb K/7E %NKy= 9pJ7JV= 9J5J K6V@5O
9EA AlV q K9V=J5O
A{;/J 7/pE6 7 O
,JyJ=L 7=L{J= '6p JV4? 74JV6= {;/JO
K/7E JV' K V?J= K6VEJV" 9J5J O
K976 <e7JK/= JV' K V?J= K6VEJ"O
K V?JV== ;q#f*JO
:P "V:q 9G 7JK6= 6LV% K V?JV== K6VEJ" K6V@5O
K V?JV== JV'= A;VE= U6JK*?O
K/7E U{V K? ?rK; K6VEJV" 9pK/z;O
$@&Y (X<7 : *r4B=$ 1X<# 4?=,(<
O
O
O
O
O
O
2
K/7E U{V ;KB>J ?rK;V = V;q K6VEJ" K6K@O

7APK/ >pJ. AMK95J 7JK= K5 J= 9G 74JV6= 4JKE/iO
7APK/ >pJ. AMK95J 7K=V?J5 AGzJeb 7K/O
7APK/ >pJ. AMK95J= 7K=;J.O
;KB>J= ;S/Pp= U{V 7APK/ >pJ. AMK95J 74J6O
K/7E U{V ;KB>J= %J N=L= 9AJV6 9J5JO
4
*g. (X<7 : \%<\LX0`< ,X,\L<

O
O
O
O
O
O
O
O
O
O
4x. (X<7 : \%<\LX \%<\LX =,=(
7K=vZJ= 7K=_&6g/JO
9JEM %>J%> /J7;JJO
5M>J 9JK> U5IJEJO
9'qp 74J3q 7AJ=.O
TK; J4rq =.O
K/K=y :LCO
JV>J= 9p9v]JO
7J6 =J= 7JK6O
7JE!J6J U7?J9 !J6JO
J9'q6J 9J| K7 4J6LO
O
O
O
O
O
O
O
O
O
O
3| (X<7 : =)0<*k<
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
K976 %J>6JO
4M#q*6J AlV q U6JK*? 74J6O
/ }K> K976 #*6J= U6JK*?O
K/7E 9pJK5 AlV q U6JK*?O
4P#q*6J 9J 9pJK5 AlV q /4Veb= K6V4q? 74JV6= {;/JO
6;M6J AG"VB= {;/JO
K/7E K97V4= U{V 7K=4?qV = {;/JO
K976 :96 9G <e7JK/ Al2V /3p 74J6O
K/7E JV' ;KB>J "V.= K6VEJV" 9J5J K6V@5O
5pJVE= 6M7P= K9K5 7.EV6= {;/JO
{. (X<7 : 1X<# .B1 ,X,\L<
:96 <e7JK/= K6=J7JO

K"g JV= U{V A/ q/J 9>l26O
<e7JK/ K#K=EJ =J!J O
%>;J6 <e7JK/= 7V= 9J K6 V* J'O
rJ K G K"EJ= 9G ?Ky A=9=JB K9K_&6g =J= 7e]JO
v2EGKzE <e7JK/O
6/N6 <e7JK/ J9S/ =JO
Uz6 9G 6pJ6p VJ>6 <e7JK/O
BVE 9G K>8*O
#P.qE;J6 <e7JK/O
U7AJ= 7pJf*O
U;V( KAKC 9G <J/JEJ/ 73O
K7* AJl AMC ;M! /pJK4O
K/K=y '6O
U%JV!= K6=J7JO
zK*7P.q <eJG? K6.qE 39J BJ= v]JEL/i 7=L{J= {;/JO
K976 U5IJEJ= K9=^V A/ q/J;P> 9p9v]JO
K9VJ= 9J 4JBp "pJA 5P>J /pJK4O
5
=)0<*k< 4UG Y =,G23 =,(<)
O
O
O
O
O
O
O
O
O
O
O
7J3K; K%K FAJ A=J;O

UA 8K* U= ,q 9M AG={.O
U5Y/ =. AMK95JO
pJKf*6O
K9?rJ; { /pJK4O
K? {O
%J 9J"JV6 K9V6J46 K?{J= AMV<J" AMK95JO
%J 9J"JV6 "SBJE6 AMK95JO
%J 9J"JV6 W46Kf46 7VEJ'6LE K'K6@7 /pJK4 7JK= AMK95JO
AG9J4 7 ?rK;V = '6p K%K FAJ 7K=%<qpJO
9J5p/J;P> "^7 9L;J %J>M =.O
),. (X<7 : .Y Q <

O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
W4K6 ;q#f*JO
K9?rJ; 9J JBJV== '6p K9=K/O
AJJKB ;q#f*JO
AJJKB &MK*O
{K/7P=. ;P> AJJKB &MK*O
;q A;VE= Al7AJ=.O
W6? 7J>JO
<J69JBV6 z;7MK/ ;q#f*J= 7= 9J5JO
K5 J> V;q= '6p K/K=y :J/JO
;KB>J ?rK;V = '6p ALK;/ ;q#f*JO
W/ %J N=L= 7= 9J5JO
7J 9EvZ ?rK;V = JV'= A;VE= U6JK*? 9G BJ= 7v\K/O
AC 7K=9B6 ?rK;V = '6p K9V?@ 9EAAL;JO
U6JK*? 9G U=K'JV== AKB/ ;q#f*J= K;> 3J JO
U4J J6 /pJK4 9O
W6K;K &MK*O
7LCJ &MK*O
;'M=L AB 9JFAK= &MK*O
FA9 &MK*O
&MK* 39J 9V= A;VE= ;'M=L KBAJ9 74J6O
'2. (X<7 : . ?0>
O
O
O
O
O
O
O
O
O
?=
O
O
O
<'2 (X<7: . ?0> F,<!Y

O
O
O
O
O
O
O
O
O
O
O
O
5<0 *=0G2<(
;'M=L= K9V?@ AGJO

;'M=L 7K=V?JV5= 4JKE/iO
;'M=L J> Kv]K= =.O
;'M=L 7K=V?JV5= A;EO
7%K>/ ;M4rJ 39J JV=L U6J* /pJK4 J=J ;'M=L 7K=V?J5O
;'M=L B V/ /q6V<J"p K9@EJK4O
/qV9p 6M7Kv]K/= '6p ;'M=L /q6 O
{K/ 9J K96K= '6p ;'M=L /q6O
UA9J 74JV6= '6p ;'M=L /q6O
7
'q 9J K"; J4JVE= '6p ;'M=L /q6O

;'M=L B V/ 6pJ6p /q6O
;S/ ?rK;V = 7K=V?JK5/ ;'M=L 7K=V?J5O
;'M=L B V/ /q6 9J ;'M=L K9>Vl2 7K=V?JV5= J=V. K/ 4J9LO
5J=J
= 5L6 4=!JVvb= U{V U J*q K8AO
;'M=L 7J B6 6J 39J ;'M=L K/q/ B EJV& =R7 ?rK; V4=
7V{ 4J9L J4JVE= '6p K* ;J 4=!JvbO
J7L>O
;JK> 9J ;'M=L 7K=V?JV5= '6p 4JEL 6p U J6 9pKy= AlK=
?/qJ5L6 UzJ O
K/7E U{V ;JK>V = K6 * B V/ 3q J4JEO
K6;g/; ;'M=L U9J,q 7K/JO

K/7E ?rK;V = '6p K6;g/; ;'M=L BJV== AM7JK=?O
K6;g/; ;'M=L BJ= U#J@.J =J= {;/JO
AM7JK=? 7.EV6 K9V9%p K9@EO
K6;g/; ;'M=L BJV== 7<qJEzK; 7<JqV>J%6JO
AG9J47 ?rK; "V.= ;'M=L U9J,q "+6O
AG9J47 ?rK; "V.= '6p ;'M=L K65qJ=.O
AG9J47 ;'M=L U9JV,q= KAJeb 7 J?O
AG9J47 ;'M=L U9JV,q= eb9q/qL ;'M=L K65Jq=V.= {;/JO
?r; J4J>V/ 4=!JvbO
K6;g/; ;'M=L 7V/p ;JK>V = 7= 9?p 7J>6LEO
K6;g/; ;'M=L BJV== ; BJV= ;'M=L 74J6 K6K@O
t<'2 (X<7 : '? Y )< =)$ <0G#

O
O
O
O
O
4
G.0 )X 2Z=.G 0 `=$*B0#
{K/7P=. 74JV6= '6p ;JK>V = 4JKE/iO

{K/7P=V.= 7K=;J.O
;'M=L KBAJV9= 7K/O
7P6K9qV9%6JO
;JKA {K/7P=. U3J 3q J=J 7K=V?J5O
8
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
{K/7P=. 9f*6O
{K/7P=V.= BvbJeb= UzJ 9J 4JE9 =. K6K@O
U6JK*? 4J9LO
;J=J/m 4M#q*6J AlV q ;JK>V = K6 * B V/ K99SK/ />V9=
{;/JO
;J=J/m 4M#q*6J= K=V7J*qO
K%K FAJ 7=L{JO
%NKy= U{V {K/7P=.O
;JK>V = U4 K>EJ/i O
;JJ= 6JK9V = U{V K9V?@ K95J6O
{K/7P=. AlV q K99=.LO
4JE;MKy 9J >J#V9= %NKy 9JK/>O
K/7E 7?g ?r; J4J>V/ K6uK= '6p U7=.O
J<q5J=J= v]J6O
4=!JVvb= ?/qO
;J=J/m 4M#q*6J= U{V ?r; J4J>/ /Tq
K/K=y ';J />9
=J= {;/JO
%NKy U=K'Kr =.O
%NKy U=K'Kr K=V/ 9p3q/J= 8>O
J7L>O
J7LV>= KAJeb AJV7V{ K/7E 7K=V?J5 v]K"/ =.O
{K/7P=. KBAJV9 74 U J6 3q BvbJeb= =J AlV q 6p U J6
=JVr= AV 9p9v]J J<q = =J= '6p K9K5O
mG7<'2 (X<7 : F Z!
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
=)7) ,9 =2y 4U Y
O
O
O
O
O
?rK;V = K9V?@ AGJO

;JK>
?rK;V = U*r, K6E6O
U=K'Kr =V.= '6p 4=!JvbO
4=!JVvb= '6p 7VEJ'6LE K9@EJK4O
U=K'Kr =V.= '6p 7VEJ'6LE K9@EJK4O
U*r, K6EV6= A4Ap 9J ;q /qJ B EJ= V<J"p/JO
U=K'Kr T/ U*r, K6E6 /qS U=K'J= /pJK4 AG={.O
U=K'Kr =.O
9
7K/J67MV U*r, K6E6 U=K'Kr =.O

U9AJ;K= K9;J6 7K=9B6 7K/JV6 U*r, K6E6 U=K'Kr =.O
6JK9 "V.= U*r, K6E6 U=K'Kr =.O
U=K'Kr =V.= 4=!Jvb K6u6g 3J J JV> %J N=L= ?/qJ9>L
7K=9K/q/ 3JK V9O
A:J7K/
K/7E ;q /qJV 94>L =J <J V9 6JO
"+6/e 9G K69qJBL K;K*= K/7E 7K=9/qV6= U{V U6JK*?
74J6O
U=K'Kr =V.= 7/pE67O
U=K'Kr 9JK/> =.O
6M;K/ /pJK4= K9=^V J7L>O
U=K'Kr =. 9p/L/ U J6 U*r, K6EV6= J' %J>JV6J K6K@O
W/ A4Ap 7V4= 7= 9J5J O
U=K'Kr T/ U*r, K6EV6= AGK9K59 B EJO
;JK>V = 7V{ AF ?r; J%=.O
?rK;V = 7V{ AF ?r; J%=.O
@C<Ve= J V6= ALK;/ 7VEJ"O
K/7E U{V U4 EJ6L U;J ;J B V/ 9pJBK/O
%NKy= J<q =L =. U<J"p/J O
U*r, K6E6 U8,JV=?V6= U=K'Kr =.O
K99=.LO
U<Y3 4= @J K@ 7K/K6K5O
K/7E U{V U*r, K6E6 U8,JV=?6 U<Y3 4= @J K@ 7K/K6K5
KBAJV9 J' K=V9O
U% 8 O
G?"B. J=L K;K*O
G?"B. J=L K;K*= J'O
G?"B. J=L K;K*= A:JO
G?"B. J=L K;K*= AM7JK=? 9Jvb9JE6O
10
*g'2 (X<7 : F <U<)>0 .?)<+<7 2Z=.G 0 92 r5#

O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
$@'Y2 (X<7 : =,G0<( =)[=k 2Z. <'<1$ 2Z. <*>1 Z< ,?X)<1
< ) $ </Y(<0< $X<='
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
K? K9V=J5 J76O
K? K9V=J5 K6uKO
5;q#* > J *O
K? K9V=JV5= {JKebO
?r; J4J>V/ 4=!JvbO
?r; J4J>/O
7=J5 K9%JV== U{V ?r; J4J>V/= {;/J
J<qz;O
7=J5 K9%J= &JCJ 6p U J6 K9@VE ?r; J4J>V/= {;/J
J<qz;O
?r; J4J>V/= =JE /pJK4= K9=^V J7L>O
?r; J7L> *rJ 9Mp6J>O
4=!Jvb 9J J7LV>= 8=;O
;J;>JE 7{"V.= 7Kv]K/O
;J;>J= !=%O
K6uK /pJK4 JBJ= 7= 9?p 7J>6LE B V9O
K6uK /pJK4 9>9F = /JK=!O
J<q5J=J= =^ U?@O
J<q5J=J K6u6g 3J J JV> 5;q#* 9J > J V*= U6JK*? 'J=L=
7= 9J5J K6V@5O
?r; J4J>/
*rJ 9Mp6JV>= 5;q#* 9J > J * K6K@ =J=
{;/JO
U9 J 6L 5;q#* > J *O
J<q5J=J K6u6g 3J J JV> %J N=L= ?/qJ9>L 7K=9K/q/ 3JK V9O
K/7E 9pKy= K5 J= /pJK4 ={.O
7{"V.= 7K/K6K5/iO
K6uK U=JVE4JV4= 9pJ!pJO
11
5pJVE= 7VEJ"O
K9V?@ AGJO
G?"B. /BK9>
>pJ. /BK9> v]J76O
/BK9>VE= 9p9v]J76JO
4O
/3p />V9= {;/JO
K9V=J5 K6uK /pJK4O
{;/J 7q.O
G?"B. /BK9V>= K9K6VEJ"O
AMK95J 7JK= U<J"p/JO
G?"B. /BK9V>= 9p9BJ=O
>pJ. /BK9V>= 9p9BJ=O
U JlJ6LV 74 JK3q U=EJ/O
/BK9>VE= JE JE = B V/ U=BJ O
?rK; "V.= JE JE = B V/ U=BJ O
*rJK U9JV,q= 9v]J6
J'O
/BK9>VE= KBAJ9 K6=L{JO
/BK9>VE= 74 AMK95J 6pJ6p AMK95J= K/K=y B V9O
U;YAM;L JV' K6<My K?V= U{V K9V?@ K95J6O
JK5 K? AlK q/ J' V;q K6VEJK'/ U JlJ6L A;PBO
9JG>JV4? K9K6VEJ" V7qJV=?6 /pJK4= 7= G?"B. /BK9V>=
9p9v]J76J 7q.O
F3<62 (X<7 : ! 2Z=.
O
O
O
O
O
O
O
O
G#0 =)G7< =)7Pe# ,9 =)0<*k<
vZL; 7.EV6= {;/JO

, ?rK; 9p9v]J76J U9J,qO
U9JV,q= "+6O
U9JV,q= A:JO
U9JV,q= J<qJ9>LO
7V4J K;K*O
;q /qJ
;q%J=L K6VEJ"O
/BK9>O
12
O
O
O
JE 9pVE= K99=.LO
{;/J 7q.O
, ?rK; "V.= K6=J7J
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
/pJK4 Al2V K9V?@ K95J6O
4x'2 (X<7 : -=,3X $5=,1

O
O
O
O
O
O
O
O
O
O
U9A= J=L !JV/ 7K/JV6= ?rK; "V.= '6p :K9@p /BK9>O

%J 9J"J6 ?rK; :K9@p /BK9>O
%J 9J"J6 ?rK; :K9@p /BK9> *rJK U9J,qO
7?JA6 9pEO
%IJ4JO
{K/ J4JEO
:K9@p /BK9> VzJ V<J"pO
6p U J6 V'q= 7= %IJ4J 74J6 "JK5 J= 7J V9O
;'MK= 9J 6p U J6 AMV<J" AMK95J ;JK> ;J V/ 7JK=V96 6JO
AG9J47 ?rK; "V.= '6p :K9@p /BK9>O
{<'2 (X<7 : =2`<(>)$<A
O
O
O
O
O
O
O
O
O
5pJVE= 7VEJ"O
K9V?@ AGJO
K7{LE 7V4J K;K*O
;JK>V = 9J5p 9J5 /JO
JE = /pJK4 B V/ ;MKyO
;JK> V 7V4? K6V4q?6J 74J6O
K?{J5L6 ?rK;V = 9J5p 9J5 /JO
7V9? 7K=4?q6 /pJK4= {;/JO
{;/J 7q.O
)=,92 (X<7 : *0<( 'u ,9 *s=$
O
O
O
O
O
5J=J
= 5L6 ?r; J4J>V/= JV4? ;J6p =J= 4O
K?
K V?J= K6VEJV"= '6p 4O
5J=J
>G#6 K=EJ K??M AlV q U J6 %NKy =J= 4O
;JK> /Tq %/N3q 5pJVE= K95J6 >G#V6= 4O
6MV;JK4/ 6M7Kv]K/= A;VE ;'M=L= K9K6;VE J' =J= 4O
13
5J=J
>G#6 =J= 4O
K6;g/; ;'M=L BJV== ; BJV= ;'M=L 74JV6= 4O
4P#q*6J= U6JK*? 74JV6 9p3q/J= 4O
AF ?r; J%=V.= 4O
K6uK /pJK4 :GV"= 4O
K6uK /pJK4 9Jvb9JEV6 9p3q/J= 4O
U9 J 6L 5;q#* 9J > J V*= 4O
U9 J 6L 5;q#* 9J > J V* 7V=JK%/ =J= 4O
K-V; /JV>= JV' G?"B. 9J 7V=J%6J= 4O
5J=J
>G#V6= 4O
:K9@p /BK9> 9G U*r, K6E6 /BK9V>= 3q J/mAJV/= 4O
V=K'Kr T/ U*r, K6EV6= ;q JV= 4O
U*r, K6EV6= W/ A4Ap 7V4= 4O
5J=J
6J ;J6J= 4O
K;3pJ A{;/J 7/pE6 7 9p9BJV== 4O
K;3pJ K99=. /pJK4= 4O
6pJE:JV9 /3p 7 JV?= 4O
?rK; "V.= AJ5J=. 7=JV5= 4O
9J5J 74JV6= 4O
6pJ6p 7=JV5= 4O
7P9q 4JJ= 7= 9K5q/ 4O
K976 7K=.K/ Al6g J 6 >G#V6= 4O
J4J>V/= K/7E JV4? 74JV6= {;/JO
9EA 7;JV.= 4JKE/iO
U JlJ6L /pJK4= 7=J5O
7=J5 K9%J=J3q "B.O
K:<MKy /J;JK4O
7=JV5= K=V7J*qO
;J;>J 7/pJBJ=O
14
=,92 (X<7 : *r2<4) *=0'2Y)

O
O
O
O
O
O
O
$X<='
O
O
O
O
O
O
O
O
O
?r; 7K=%J>
/pJK4O
75J6 7K=4?q
/pJK4O
75J6 7K=4?q
/pJK4= {;/J 4JKE/iO
%J 9J"J6 ?rK; :K9@p /BK9> K6Ee O
KBAJ9 K6=L{JO
K=V7J*q /pJK4O
'J/LE K? v2Jv]p K6=J7J J K>O
=,92 (X<7 : =,=,(
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
$+=41A
73; /8KA>
K/LE /8KA>
/T/LE /8KA>
%/N3q /8KA>
7; /8KA>
9pJBK/= {;/JO
J' =^ K=9J= 7PV9q 75J6 7K=4?q V U6JK*? 74J6O
6 AJ 6MV;J46 9G >J VA U=K'Kr =V.= K8AO
7K=4?qV = K/7E JV4V?= K9=^V JK7>O
U;YAM;L J=!J6JO
J V6= 5L6 J4JEV<J"p 3q J4JEO
AMV<J" AMK95J 74JV6= '6p U J6 3q J4JE =J <J V9 6JO
?rK; "V.= 4JKE/iO
;KB>JV4= 7K/ J%=. O
U6JK*? 'J=L K99=.L U7?O
K/7E 9pKy '6VA9 B V96O
A=> K9?nJVA T/ J' ;q ={.O
K/7E V{V %J N=L= 9/q;J6 ?/qJ9>L AG={.O
J 6 K9K5 9G 7K95JV6= AJ= AGV{7 74?q6O
K/7E K9V?@ 9v]JE 9JCL#= 9J JK6J= ;JK>V = 4JKE/iO
/3p AG"VB= {;/JO
K6VEJ" AlV q 6M;J6O
K/7E /3p 7 JV? 9J5J K6V@5O
K/7E K9@VE U"J76LE/J ={JO
U9JV,q= J<q5J=J ={.O
U9JV,q= U;EJ4 {;/J J<q5J=J /pJK4 AlV q AJ5J=. K95J6O
A; JV'= '6p A; ;'M=L 74J6O
15
AJ5J=. U{V U J*q K8AO

K/7E 7?g /pJK4 Al2V 9J5J K6V@5O
J V6= 7= 7K?{.O
U*r, K6EV6= K/7E ;q J K6K@O
6p J4J>V/= !K/EJV== 7= 9J5J K6V@5O
K9K5 7.EV6= {;/JO
K9K5 7K95J6 vZLV; 4V= K95J6O
=KB/ =. UB8J'/O
;P> 7J+ 9G GV='LV/ 7J+O
16
*r&. (X<7
,<91<G'2
*r<0=UT
G G
A 49=`x =2G0<)<. *Z,$Y) ,9 *rG7< Aoo

J 6 9JG>JV4? ?r;
J 6
6JV; K:KB/ B V9O
J 6 K9>Vl2 J<q = B V9O
J V6= 6p K:6g=R7 K &M K65qJK=/ 6J 3JK V>
J 6 A;"
9JG>JV4V? 7V<J'p B V9O
7 5J=J
<JBJ K &M 3J N 6J U 6
J 6 K6;gK>K!/
7K/J6A;PB 9J ?rK; "V.= 7= 7V<J'p B V9 6J <3J Hoo
A= J= 9J A= JV== 5L6v] U J6 K8A
! KAK K=K* K7Kf*G U7A
" A;=Jv J=!J6J
# AMv] {; 9S 4MHv] 7K/9L K/; 7K=/pyJ ;KB>J 9J K?
39J K959JV4= K%K FAJ </g 9J UA9J= '6p 7K=%JK>/ K e\ ;M6J8J
9J >JV:= >V{p 7K=%JK>/ 6VB
=R7 U J6 7K/J6
$ 7 J?p 74?q6LV/ BJ= 7VEJ'V6 v]JK7/ ;6 U4J J67J* 9J >
<JBJV/ 5M !M%=J U9%JV 6J %V>
% 7 J?p U;>JE 9J 9J'JV= 5;LqE 9J 4J/9p VV?p v]JK7/ U4J J67J*
9J >
& K?{J 7K?{. 9J "V9@.J 7K/J6
' ;M6J8J 9J >JV:= '6p 7K=%JK>/ 6VB ;6 &JJ9JA 9J U;A
( K/LE 5pJVE= 7VEJV"= U{V A= JV== ;JK> J6J5L6 9G
A= J= /qS A=JAK=:JV9 7K=%JK>/ ;6 U J6 U4J J6 9J K? 9J
9JK.'p 7K/J6 <JBJV/ ?rK; ". A= J=L ;q%J=L"V.= 7=
7V<J'p J%=. K9K5 J=J 7K=%JK>/ B6
) ;6 U J6 ?rK; <JBJ= K6VEJ" 9G %J N=L= ?/qJ9>L AGK95JV6=
6MV_&4
9J
= 5L6 7.L/ J 6 9J K9K5 J=J
7K=%JK>/ BE /V9 J4? VEJ4? 9G %/N4q? 5pJE 7VEJV"=
U{V K6;gK>K!/ 7K/JV6 K6<My U J6 ?rK;
K6V@V5= eb:Mqy
B V96 6J <3JHoo
U=> K9:J"
,J /J= U*K>V8J6 K9:J"
=$=0^ 49 X<
$EY*` $EY *r <=2$
,?(,<0
G]<,0
,<91<G'2 <$>7 494'

"< <
G2 <=2W)
G]<,0
AGA4 /Tq "SBL/ K6;gK>K!/ J 6K* U? JK?n6

U;J/JV9
VxJ9=
/JK=! =Jr7K/= AloK/ >J: K=EJV& 9G /J=J
J 6K* A9qAJ5J=V.=
9"K/= '6p 7 J?
=J <J V/V& H
4G)0 )9 < )
?rK; K6VEJ" ;JK>
?rK;V = ;V5p Al q A9qK6;g ;'M=L= BJ=
K65qJ=. ;'M=L 7K=V?J5 J<q JV> 4M#q*6J'K6/ J=V. ?rK;V = '!V;= 'V6p
{K/7P=. U*r, K6E6 "+6 K? K9V=J5 J76 K6vK ?rK;V = v2Jv]p
K6=J7J >pJ. %J N=L= 9v]J 7K=V9? 9G K?J5L6/J AGK? K9@EJK4
AlV q A > J V6= AGV?J56
AGB/ =. V 7.L/ J 6O
V<VB/N ?rK; K6VEJ" ;JK>
?rK;V = ;V5p Al q A9qK6;g ;'M=L= BJ=
K65qJ=. ;'M=L 7K=V?J5 J<q JV> 4M#q*6J'K6/ J=V. ?rK;V = '!V;= '6p
{K/7P=. U*r, K6E6 "+6 K? K9V=J5 J76 K6uK ?rK;V = v2Jv]p
K6=J7J >pJ. %J N=L= 9v]J 7K=V9? 9G K?J5L6/J AGK? K9@EJK4
AlV q A > J V6= AGV?J56 AGB/ =. V K95J6 =J A;L%L6
7VEJ'6LEH
VAVB/N
/4J=J K6;g=^7 J 6 =J B >H

17
18
AC
'673 K9:J"
".7P/q K9:J"
".v2Jv]p 7V Y?> K9:J"
9JG>JV4? A= J=L ;M4r.J>E
* 48J ! " # $ % &
' U/ K>K!/ U J6
7K/JV6 K6VEJK'/ U J6 ?rK; /V9 J4? VEJ4? 9G %/N4q?
5pJVE= 7VEJV"= U{V U J6 K9?nK94pJ>VE K6<My K?{ 9p/L/
6p U J6 ?rK;
K6V@V5= eb:Mqy B V96 6J
+ J4? VEJ4? 9G %/N4q? 5pJVE= 7VEJV"= U{ &JCJ 6p U J6
U{V U J6 6JK9
, U@JC? 5pJVE= 7VEJV"= U{ &JCJ 6p U J6 U{V A;M4r"J;L
'JBJ'
- ;6 U J6 TK@ !J;J= U<!JV6 AJ5J=./H 4? 'V6= ; ?rK;
J' V=6
. "SB 7K=%J=
9G
/ ;6 U J6 7K/J6 <JBJ BJ= ;JK> /Tq 7K=9JV== A4Ap"V.=
AJBJV/ BE 9G <JBJV/ ;'M=L= K9K6;VE U J6 ?rK;
K6<My 3JV 6 6JO
O 49f<4.B5 :oo K9@E 9J 7AV= 7K=7e]L U J6 K &M 6J 3JK V>
J V6
9A= 3q
J V6=
5J=J 6M<JEL U J6 ?rK;V = K6K4q
9EVA 76L/ B EJ= J=V. v2J:JK9 :JV9 %J N=L= 9AJ6O /V9
U J6 7K/JV6 9&= %J N=L 7P.q B EJ= U7K{V/ ?rK;V = Uv2_&JE
9A= "B.V
9A= 9K>EJ ".p B V9O
JGK?
{;/J 3q U< U{V {;/J v]JEL 7 TK/= ;6
{;/J <JBJ U< 4M#q*6J= J=V. /JBJ= {;/J ASK B EJV& /JBJ
#K*9J= A;E K/K6 U< JV' K6VEJK'/ K&V>6 /FAlV q /JBJ=
7J'q6 {;/J ;J EJ U4E 9G U< U{V {;/J v]JEL 7 TK/=
;6 {;/J <JBJ y A;VE K/K6 U< U< J' K=V/ 7JK=V/6
/JBJ= 7V/p K* AlV q /JBJ= 7J'q6 {;/J ;J EJ U4EH
/V9 ?/q 3JV U< 73; /8KAV> K>K!/ 7V/p '!; v]JEL
JGK? {;/J ASK V= 9K>EJ ".p B V9O
F7J46 7KzEJ 3q K6V;gJy UG =.
=G =. U5Y/ =. AlP.q 9J K6!MI/ =. "IJ* 9J U;JC 9f4L =.
39J 6p U J6:JV9 K6;qJ. 7KzEJE JV=J7 =.
W/> "pJA 7JK6 64q;J= ;E>J 39J 6p U J6 /=> J9'q6J
7Jl =J= 7KzEJ
?Ky 9J "pJA F7J46 BsJA 9SK =. 9J U7=. 7KzEJ
'JBJ' 9J U6Y <J6 K6;Jq. 7M6H K6;qJ. U;=J;/ AlP.q 9J K6!MI/ =.
9J :JV6= 7KzEJ
U>*J=V7A K>V3J"JK8 8V*JV"V:J= Kl *J= 8V*J VlJ'
8VA* 39J 6M=R7 U J6 7KzEJ J=J &J7J= J' 39J 9
9IJ5J = 7KzEJ <JBJ 9p9AJ KBAJV9 39J ;M6J8J= '6p 39J 6p
U J6 9p9AJ= J6M@K K9@E KBAJV9 7K=%JK>/ BEO
U J6 U*r, K6E6 AlV q ;q /qJ 3q BJ= K69qJBL K;K*=
U J6 A4Ap K e\ U J6 K6=L{ 9J J 6 7V4J BJ= eb:qMy
B V96 6JO
;q #f*J 3q JBJ= 9G K9?rJV;= '6p K9=K/ 9p/L/ U< A;VE
U J6 ?rK; J' =J= '6p ;JK>V = !K/EJ=J5L6 3JV 6O
;q=/ AJG9JK4 3q U J6 9pKy K<K6
'6 AJ9q{K.
AJG9JK4 9G K<K6 U J6 AG9J47 7K/JV6 9J /FAGzJeb JV'
y=RV7 K6VEJK'/ JV&6 9G U J6 AlJ4 AlJ4 LE U>!
AG9J4 AlJ4
7 AlJ4
K8%J= U>!
K=V7J*qJ=
AG9J44J/J K7 U*J= J*qMK6 AG9J4 K% "JB
pJK>"JK8
9G 7^8 =L,J= BJ= eb:Mqy B V96O
;q?J>J 3q U J6 9JCL#= 9J JK6J U<!JV6 U J6 K? 7KzEJ
%V>O
J=!J6J 3q ;6 U J6 #= 9JCL 9J JK6J U<!JV6 9FAV= U J6
K46 AJ5J=./H 7JI% '6 9J /V/JK5 ?rK;
;q=/ 3JV 6 9G
BJ= UM 3JV K e\ U J6
!K6 BJ= eb:Mqy B V9 6JO
K V?J= 3q U%Y 9FA= 9EA 7P.q K=EJV&6 K e\ J+J= 9FA=
9EA 7P.q V=6 6J ;6 U J6 9pKyO
!K6 3q U J6 !66 U<!JV6 !K6' Al4 JB=V.= '6p 9J
20
6MAJV6= '6p J<q 7K=%J>6J =J BE 9G !K6V/ 9J BJ=

AK6g V* :P "V:q 9J :P 7SV /4AGzJeb A > J' <e7JK/ *rJ;
73 9G AJ K,G
BJ= eb:Pqy B V9H
/V9 ?/q 3JV U< ;6 U J6 9JCL #= 9J JK6J= G? BJ=
eb:Mqy B V9 6J <JBJV/ U J6 F7J46 7KzEJ %J>M JV& <K4 6J
y=R7 7KzEJ AGK? !K6' 74JV3q= ; 9J6J 9J= '6p 9J BJ
UCrKAG K=9J= '6p BEO
"J%N K* 3q U J6 ?rK;V = 7K/ 7P.q 9&= %J N=L 39J &E ;JVA=
K/K=y A;VE= %J N=L= '6p /JBJ= A9qV?@ 7J ;'M=L BJV=
6Pp6/;
K4V6= ;'M=L <JBJ y ?rK; V /JBJ= %J N=L= 9AJV6
7V4EO
BJ
J V6= 5LV6 ?rK;V = K9K:6g:JV9 %J N=L= 9AJ6'K6/
J=V. ;JK>
/qS 7V4E {K/7P=. 9J U6JK*V?= 7K=9V/q 7V4E
;'M=L 9J :J/J= K/K=y B V9O
%J 9J"J6 3q %J F7J4V6= '6p 9p9/ 9J 9p9BJV== K:V7/
U J6 'K; 9G %J J=!J6J BJ= eb:Pqy B V9O
&IJ*J 3q 7VEJ'6LE/J= J=V. ;JK> /Tq ?rK;V = %J N=L=
9AJ6O
'6 >pJ.;P> AJK:qA 3q
'6AJ5J=V.= '6p K94MpF "pJA W/> 9J 7JK6 F76g 7v\/ 9J
A=9=JB =.
! '6AJ5J=V.= '6p 7EHK6uZJ?6 9J v2Jv]p 9p9v]J
" BJA7J/J> 9G l2MV> AJK:qA
# K"g K69qJ76 AJK:qA
$ ,J /J= U*K>V8J6 AJK:qA
% U=> K9;J6 AC 9G U6Y 7K=9B6
& 9f4=
' U J6 7K/JV6= 7JBJ=J *B>4J=L J8 9G K6=J7J AJK:qA
( K| V'6 KA*J K>6 9G
) 9pJGK GO
*rJ 9Mp6J> 3q
J V6= 5L6 v]JK7/ ?r; J7L> *rJ 9Mp6J>O
*rJK;?6 <e7JK/ 3q U J6 U?8* %J J ,rJ; 7MK> 7MK>=
KAAV*; N7K>GA tJ% ,rJ K:G U9 39J 6p U J6 > J 9J
21
U Y?> <JBJ J=J U J6 7J ; ;M:JV== "K/ U J6 <e7JK/ 9J 7JVf*

U7=. 9J "B. =JV6J BEO
U*r, K6E6 3q VEJ4? 5pJVE= 5L6 "K+/ U=K'Kr T/
?rK; "V.= 9J ;JK> "V.= U*r, K6E6 9G U J6 U*r, K6E6
U8,JV=?6
BJ= eb:qMy B V9O
U*r,
K6E6 U8,JV=?6 3q VEJ4? 5pJVE= 5L6
U=K'Kr T/ U J6 U*r, K6E6 U8,JV=?6O
K,A%J'q 3q ?J=LK= 9J ;J6KA {;/J= J=V. 39J 9pJB/
:"g v2JVv]p= J=V. ;JK> /qS U J6 ?rK;V = %J N=L= 9AJ6O
K-V; /JV>= J' 3q U J6
4> ?rK;
/qS AG#9
_&J T/ 9G V?p;P> :JV9 v2J:JK9
F7J4V6= "K/ ?3
K=EJ U4 EJ 9G <JBJ U J6 <JKe ^K* 9J > J 9J <e7JK/
K9 > 9J :JKEJ <J EJ 9J ?Ky A=9=JVB= ^K* 9J 9p3q/J 9J
v2J:JK9 K'K6A7 9G > J= !M%=J <eJG? A=9=JVB= 9p3q/J=
J=V. 6J #V*O
K46 3q U:J= &E #K* J B V/ =^ K=EJ U J6 %K9h? #J
A;EO
U4 EJ6L J<qK9K5 3q U4 EJ6L J<qK9K5
AV6=
6G J 6 O
U4J J6 3q U J6 9JCL #= 9J JGK"6J <JBJ AlP.q 9J G?/H
U J6 ;J>J;J> 6"V4 9J 9JK V/ !M%=J 9J 7J J=L:JV9 K9Kz= '6p
9p9/ BE 39J U<!JV6 U J6 "JB V U J6 UA9J U4 EJ BE
9G y 9JCL #V== JK6JE B 9J 6p B
y 9p9AJ
9JK.'p AlV q ;P>/H 9p9/ BE =R7 7V/p
K8A :JJ=
{ }4J; #= 9J ;qv]> 9G A= J= /qS A= J=L U"V'V*
7J76 J=J
J V6= VV?p U#JK@/ 6p U J6 9JCL #= 9J
JK6J BJ= eb:qMy B V9O
5;q#* 3q U J6 7K/JV6 K6VEJK'/ 4> ?rK; /qS
V
;q 9 =. 9J J' K=V/ v2L TK/ 39J BJV/ K6VEJK'/ U J6
?rK; A;K /qS
;V/p= K:KV/ J' "B. K=V/ 9J J'
%J>J EJ <J V/ v2L TK/O
6JK9 3q U J6 A;M4r"J;L 'JBJV'= 6JK9 K e\ 'JBJV'= ;JJ=
BJ= eb:qMy 6VB6O
11
22
U J6 U*r, K6E6 AlVq K69qJBL K;K* 3q ;6 U J6

4> U>J
BJ U< 6JV;
K:KB/ B
6J U 6 <JBJ= 7=
K6EV6= "+6/e 6M<JEL BJ= 9p9v]J76J= :J= 6pvb JV&O
K6uK 3q U J6 AJK>AL J<q 5J=JE 76L/ K6uK 9G AJK>AL
J<q5J=J &JCJ ;JK>
9G ?rK;V = ;V5p AlJK4/ ;6 U J6
%MKy
BJ= eb:Mqy B V9 <JBJ K>K!/ BE 9G :E 7V{=
v2J{=<My BE 9G <JBJ= K7 ?r; 7K=%J>
9G AJK>VA= K6 *
U7=. =J BEO
U6Y 7K=9B6 AJK:qA 3q U6Y7V3 U6Y<JV6 :JCJE 9J V3q=
K9K6;VE <JL 9J ;J>J;J> 7K=9B6 AJK:qAO
U6Y<J6 3q U J6 <e %JK>/ U6Y<J6 <JBJ U6Y 7K=9BV6= '6p
9p9BJ= =J BE 9J 9p9BJ=V<J"p 9G U J6 *J" 9J 8tJ* 9G 9J'q
BJ= eb:Pqy B V9O
7?JAK6 ?rK; 3q ;6 U J6 9pKy K<K6 AJ9q{K. K:KV/
;q=/ AJG9JK4 9J AG9J47 &J7J!J6J ?rK; 9p/L/ U J6
AG9J47 7K/JV6 9J /FAGzJeb U J6 JV' UJ 3q U< U{V
7 JV== J' K4V6= K9K:6g A;VE 4M
9J /V/JK5 ?rK; 4> J=J AlJK4/ BE UA U{V y=R7 7V/p
A;EO
U J6 ;S/ 9pKy AlV q U7J@p 3q K6;gK>K!/ U AebJ6 K99JKB/ 6pJ 39J K959J ;J/J
9G
! AGK? ?rK;V = ;S/Np= A;E /JBJ= JVE= 7= AlP.q 9J
JGK? :JV9 K6:q=?L> B EJ= U{V U J6 vLBJ=J v2J;L K959J
;J/J 9J K7/J 6pJ <K4 K99JKB/ 6J9JK> J 9J K959J BE 6J9J>
J/J K99JKB/ 9J K959J :K"g K959J 7M 95M ;S/ 7MV= 6J9J>
U&V> ;S/ U;VE= 6J9J> AebJ6 <K4 /JBJ= K7/J 'LK9/ 6J 3JV 6
39J <K4 ;S/ ?rK;V = ;J/J 9J K7/J 'LK9/ 6J 3JV 6 /JBJ B V>
/JBJ= 4J4J 4J4L 9G K99JB 9KB:Pq/ U&V> 9G K99JB 9KB:Pq/
N;J=L 6pJO
7K/J6 3q U J6 U4J J6 9JK.'p 7K/J6 K? 7K/J6 39J
23
!
"
#
$
%
12
9JCL #= 9J JK6J U<!JV6 U J6 K? 7K=%J>6J= '6p ?rK; K6VEJ"

=J BEO
7K/J67M 3q
39J K9K:6g ;JK>V = 5L6 U J6 K6K4q
>J JE ;6 JK5 7K/J6 U<}K>V/
7 JV== 9J 5=V6=
K? 7K=%JK>/ BEO
7K95J6 3q
J V6= 5L6 7.L/ U J6 7K95J6O
7APK/ >pJ. 3q %/N3q 5pJVE= 5L6 U J6 ;KB>J ?rK; V
/JBJ= 7APK/ B EJ= J=V. 7V4E ;'M=LAB &MK*O
7J ;;M:J= 3q U J6 K6 U;J*= 9J 6pV J6 <e7JK/ <JBJ
?Ky F76g V= 9J ?Ky U<J"JEO
7J 9EvZ 3q J+J= 9FA= 9EA 7P.q K=EJV&6 ;6 U J6
9pKyO
U8Y'4J=L J<qK9K5 3q U8Y'4J=L J<qK9K5
AV6=
6G J 6 O
9 3q "JBV = UA9J U4 EJ= '6p 9J U J6 9p9AJ 7K=%J>6J
K=9J= '6p U!J>J 6J O
9=!Jvb 3q A4J%=V.= J=V. ;JK>
/qS U J6 ?rK;V =
%J N=L= 9AJ6O
9J"J6 3q U J6 >J J U<!JV6 =J9J= K8 %J /pJK4 F7J46
9G 39J AG={. =J BE 9G 7=L{J 9J "V9@.J !J;J= 9p/L/
4? '6 9J BJ= K5 ?rK; K6VEJ" J=L 7V/p TK@ !J;J= BJ=
eb:Pqy B V9O
9JK.'p 7K/J6 3q
;6 U J6 7K/J6 <JBJV/ K9J76
K;?6 9J 8= EJK,qG = 9p9AJ 7K=%J>6J =J BE 9J <JBJ K*
9JK.K'p V'L 9G K6;gK>K!/ 7K/J6 BJ= eb:qMy B V9
<3JH
U J6 J=!J6J 9J K? 9J 9JK.'p 7K/JV6= =K. K9:J"
;6 U J6 9pKy= K8A 7K/J6 K<K6 U J6 K? 9J 9JK.'p
7K/JV6= AKB/ AlJK4/ %NKy 9Jvb9JEV6= '6p ?rK; K6<My
V=6
U J6 U<Y3 U JlJ6L= U J6 K6*
U J6 9L;J U JlJ6L 9pJGK G U JlJ6L 9J 9pJG
U J6 4J>JV>= K8A
U J6 | V%
24
& U J6 tJ9 UBJV*> U=IVvbJ=J 9J !J9JV== #=

' U J6 KAV6;J 9J K3VE*J=
( A= J= /Tq A= J=L U"V'V* 7J76 J=J
J V6= VV?p
9JK.'p 7K/J6 9K>EJ U#JK@/ 6p U J6 7K/J6O
K9K5 3q
J V6= 5L6 7.L/ U J6 K9K5O
U9 J 6L 5;q#* 3q %/Nq4? 5pJVE= K95JV6= U!>J7 U#JK@/
=^ T/ 9J 'J=L T/ U J6 5;q#*O
U9 J 6L > J * 3q %/Nq4? 5pJVE= K95JV6= U!>J7
U#JK@/ =^ T/ 9J 'J=L T/ U J6 > J *O
;'M=L 3q *J JE 7 J? =J BE 9J <JE ;6 A > 7JK=?rK;
<JBJ %J N=L= ?/qJ9>L 7 J?p 9J Bp U<:JV9 3J N 6J U 6
7J>6 =J B V> U J6 ?rK; V /JBJ= %J N=L= '6p 9J J' =J=
'6p 7V4E BE 9G y=R7 7 SK/= 6p U J6 K/K=y 7V4E
7JK=?rK;
BJ= eb:Mqy B V9 /V9 K6;gK>K!/ 3q BJ= eb:Mqy
B V9 6J <3JH
9JAv]J6 AGv]J6 JV>J 7JK6 K%K FAJ AMK95J 9J 6p U J6 AMK95J
74JV6= ;P>p 39J A= J= /Tq AJ5J=. 9J K9V?@ JV4? J=J 9J4
U4 EJ B EJV& =R7 U J6 UA9J= ;P>p
! 9A= :J/J /BK9> 9J :K9@p /BK9V> ;JK>
/qS 74 U J6
%JI4J
" U J6 ;. :J/J 39J U J6 ;. U=EJV/= ;P>p
# JV'= 7 TK/= J=V. U J6 K9V?@ !=% 9B6 K=9J= '6p U J6
?rK; V 74 3qO
;5pv]/J J=L 3q %/N4q? 5pJVE= 5L6 K6<My U J6
;5pv]/J J=LO
75J6 7K=4?q 7 75J6 7K=4?q AB J=L 75J6 7K=4?q
9G 7K=4?q 3q K9G? 5pJVE= 5L6 y 7V4 K6<My U J6
9pKyO
?r; 7K=%J> K/K=y ?r; 7K=%J> <M"m ?r; 7K=%J>
7 ?r; 7K=%J> 9G AB J=L ?r; 7K=%J> 3q K9G?
5pJVE= 5L6 y 7V4 K6<My U J6 9pKyO
U J6 7K/J6 AlV q ;JK> 3q ;6 U J6 9pKy K<K6
7K/JV6 ?rK; K6VEJ" V=6 9G K6;gK>K!/ 9pKy". BJ=
25
!
"
#
$
%
13
eb:Mqy B V96 <3JH

y 9pKy= U J6 =JK5 J=L K::J9 BvbJeb= ;PV> =JK5 J=L
9J J 6"/ 7K/K6K5
y 7K/JV6= 9p9v]J7 9J BJ= 9p9v]J76J 9J K6EeV.= '6p
4JKE/i7J U J6 9pKy
A= J= /qS 9J A= JV== /qS/iJ5L6 7K=%JK>/ U J6 7K/JV6=
U{V /4 VV?p K6VEJK'/ U J6 /Tq7{ 39J =R7 U J6
/qS7{ 6J 3JK V> AGK? ;e.J>E 9J K9:JV"= 75J6
U J6 v]J6LE /qS7{ /qS 9J BJ= 7V{ 7K=%JK>/ U J6 7K/JV6=
U{V /4 VV?p K6<My U J6 ;q /qJ 39J =R7 U J6 ;q /qJ
6J 3JK V> BJ= 75J6 K69qJBL ;q /qJ
6p U J6 7K/JV6= U{V BJ= ;JK>
9G BJ= 7V/p
7K=%J> 9p9v]J7 AK%9 7K/K6K5 39J BJ= J' V;q=
9p9v]J76J AlK q/ U J6 ;q /qJ 9J 9pKy
;JK> 9p/L/ 6p U J6 9pKy= 4!V> JV& =R7 U J6 7K/JV6=
U{V y 7K/J6 4!> J=L 9pKy 39J BJ= K6Ee. J=L %PCJeb
9pKy 39J 9p9v]J7
39J y J' V;q= 9p9v]J76J AlK q/
U J6 7<My ;q /qJO
<e7JK/ 9K>V/ 7J ; ;M:J= *rJK;?6 <e7JK/ 9G ;6 6p
U J6 <e7JK/ 9J > JV 9M(J V9 <JBJ= J=J ?Ky= F7J46
BsJA 9SK 9J U7=. =J BE 39J 7VEJ" =J BEO
<J6 9JB6 3q <JKe ?Ky %JK>/ <J69JB6 <JBJ v]> U6Y
J J? 7V3 <J/JEJV/= '6p 9p9/ BE 9J 9p9BJV== U<J"p 9G
U J6 *rK><J6
J6M"K; <J6 BJ= eb:qMy B V9O
U<Y3 4= @J K@ 7K/K6K5 3q U J6 7K/JV6 9J 7K/J67MV=
;6 U J6 U*r, K6E6 9J U*r, K6E6 U8,JV=?6 <JBJ VEJ4?
5pJVE= 5L6 y 7K/JV6 9J 7K/J67MV U<Y3 4= @J K@=
9pJ7JV= ?rK; "V.= 7K/K6K5O
K=V> 3q U< U{V
7 JV== J' K4V6= K9K:6g A;VE 4M
9J /V/JK5 ?rK; 4> J=J AlJK4/ BE UA U{V y=R7 7V/p
4>O
U=K'J,q K%K FA 3q K%K FA KBAJV9 U;K, pJ> 9G U,f*J>
J K> J 6
AV6=
6G J 6 = 5L6
26
U=K'Kr T/ U J6 9pKyO
U=K'J,q U*r, K6E6 3q VEJ4? 5pJVE= 5L6 U=K'Kr T/
U J6 U*r, K6E6O
U=JVE4J4 3q U J6 ;5pv]/J J=L ?r; J4J>/ 9J *rJ 9Mp6J>
/Tq U J6 K? K9V=J5 9J /FAGzJeb U J6 K9@VE= K6uK 9G
U J6 eb9/qL U=JVE4J4 BJ= eb:qMy B V9O
> J * 3q U J6 ;JK> /qS U J6 ;qv]J6 39J BJ= U J6
G? 9 K=EJ U4 EJ 39J BJV/ AlP.q 9J JGK? :JV9 J'
v]K"/ =J!J 39J U J6 ;JK>
/qS %PCJeb:JV9 9J ?/qAJV7V{
/JBJ= U 8 3q E>J ?Ky 9J IJ%J ;JV>= v2/J 39J ;J> 'K;EJ
3J J 39J <e7JK/ 9J > J K9 > 9J :JKEJ <J EJ= J=V.
U J6 ?rK; V J' K4V/ ;JK>V = 9p3q/J v2L TK/ 9J {;/JO
?Ky 3q W94MpK/ ?Ky 9G ;6 6p U J6 ?Ky <JBJ
<JKe :JV9 U7=. =J BE 9G <JBJ ;J69 9J 'e\= ;J5pV; F76g
BE 6JO
K? 3q UJ F7J46 7KzEJ 39J 6p
U J6 7K/J6 U<!JV6 U J6 9v\ 7v\/ BE K:V<JK'/ BE
7KzEJ'J/ =J BE 39J F76g BE 39J U<!JV6 9p9BJ=
7K=9B6 K9zE %J>J6 39J BvbJeb= =J= >V{p U J6 9v\ 9J
74JV3q= W/=L 7K=9/q6 U;=J;/ >G =. AlP.q 9J K6!IM/ =.
39J "IJ* 9J U;JC 9f4L =. 39J 6p U J6:JV9 K6;qJ. 7KzEJE
JV=J7 =J= U J6 J' 7K=%JK>/ BE 39J ;6 6p U J6
7K/J6 <JBJ A= J= A= J=L U"V'V* 7J76 J=J
J V6=
VV?p K? 7K/J6 9K>EJ U#J@.J V=
9G K6;gK>K!/
7K/J6}K> BJ= eb:Mqy B V9 <3JH
AC 7K=9B6 U=> 7K=9B6 AJK:qA
! U6Y 7K=9B6 AJK:qA
27
"
#
$
%
&
'
(
14
K9;J6 7K=9B6
, 'JBJ' #J* 9J U'K*
!K6 7J3= !J4 "pJA U{ 9J W/> U{
9J"J6
J=!J6J
AG9J47 7K/J6
U J6 9JCL #= =JvbJ AMC 64q;J 6J>J 9J UA/N 'JBJ' K6;qJ.
'JBJ' :JJ 7M6H K6;qJ. U;=J;/ 7K=9/q6 9J :JKEJ U8>J=
39J 'JBJV' ;J> +JV6J 6J;JV6J 9J > EJ <J EJ AGzJeb J' 9J
9p9v]J =J= '6p v]JK7/ U J6 K+ J4J= 9J 7 K+ J4JV== 7K/J6O
K? K9V=J5 3q U J6 9pKy= %J N=L= K6VEJ" AGzJeb 9J %J N=L=
?/qJ9>L 9J JV'= 9v]J 9J 7K=V9? AGzJeb U J6 K9@VE ;JK>
9G ;JK> ;JK> 9G ?rK; 9J ?rK; 9G ?rK;V = ;V5p U J6
K9V=J5 9J ;/ 7J3q pO
K? 3q U%Y 9FA= 9EA 7P.q V=6 6J ;6 U J6 9pKyO
?r; J4J>/ 3q
J V6= 5L6 7K/K/ ?r; J4J>/O
?rK; 3q K?{J5L6AB U J6 9pKy /JBJ= %J N=L= ?/qJ9>L
7 J?p 9J Bp U< :JV9 3J N 6J U 6 K<K6 U J6 7K/JV6 9J
K?V A=JAK=:JV9 9J U J6 K+ J4JV== ;J5pV; ;'M=L 9J V3q=
K9K6;VE U J6 4{ 4{ JKE
JK="=L 9p9AJ 6gE6;P>
39J U =J6LK"K== J' =J= '6p K6<My B6 K e\ 75J6/H
7?JAK6 9J 9p9v]J76J;P>
JV' 4JKE/i7J U J6 9pKy BJ=
e\:qMy B V96 6JO
AJB 3q AJ/ K4V6= U;EJ4 <JBJ U J6 z9J= A J> &E #K* J
B V/ 39J U J6 >J J= U J6 7K/JV6= '6p A= J= /Tq
Kv]=L T/ 6p U J6 K46 B V/ =^ BEO
AlP.q {;/J 3q ;6 {;/J v]JEL 7 TK/= B 9J v]JEL
7 TK/= B
<JBJ U J6 ?rK; V U< 4M#q*6J= J=V. /JBJ= '!;
B EJV& BJ #K*9J= A;E K/K6 U< U< J' K=V/ A{; K&V>6 y
A > J' B V/ /JBJV {; K=EJ U4E 39J ;q J>L6 A;VE
9p9/ =JAJEK6 4r9pJK4= 7K/KzEJ 39J JV'= AJV3 AlSy
U J6 4P@V.= 8V> v2Jv]pBJK6= J=V. y ?rK; v]JEL 9J v]JEL
7 TK/= ;q{;/J BJ=JE H
28
/V9 ?/q 3JV U< :E U%JV!= v]JEL AlP.q 4SK?Ky U>J7 7J V>
v]JEL AlP.q {;/J #K*EJV& 9K>EJ ".p B V9 39J 73; /8KAV>
9K.q/ U J6 '!;A;PVB= =R7 AGV<J'6 B V/ v]JEL AlP.q
{;/J #K*EJV& 9K>EJ ".p B V9 U<!JV6 y /8KAV> K65qJK=/
y '!;A;PVB= '6p 7J'q6 {;/J U>JV7= U;J* "C BJ= ?/ =J
?/ :J" BEO
AC 7K=9B6 AJK:qA 3q AC 7V3 :JCJE 9J V3q= K9K6;VE
"JCLV/ <JL 9J ;J>J;J> 7K=9B6 AJK:qAO
AG9J47 3q U J6 ;MK4r/ 7<qJEzK; 7 J?6J <JBJV/ AJ5J=.
AG9J4 9J y AG9JV4= 7= ;eb9p 3JV
9G A= J= /qS
A= J=L U"V'V* 7J76 J=J AG9J47 9K>EJ U#JK@/ 6p U J6
;MK4r/ 7<qJEzK; 7 J?6J BJ= eb:Mqy B V9O
AG9J47 &J7J!J6J ?rK; 3q U J6 AG9J47 7K/JV6 U J6
&J7J= J' =J= '6p AJ9q{K. :JV9 K6VEJK'/ U J6 9pKyO
AG9J47 7K/J6 3q AG9J4 7 &J7J 9J= F7J46 K=9J= 9J
7 J? K=9J= U J6 7K/J6 39J U J6 AG9J4 V'L 9J K8%J=
KAKV * 7K=%J>6J=/ U J6 7K/J6O
AG9J47 ?rK; 3q U J6 ;q=/ AJG9JK4 7?JAK6 ?rK;
39J AG9J47 &J7J!J6J ?rK;
AJK>A 3q %/N4q? 5pJVE= 5L6 K6<My U J6 AJK>A
AJK>AL J<q5J=J 3q U J6 AJK>VA= AloMV! AJK>A AGzJeb U J6
J<q5J=JO
AJG#JK/ ?J=LK= '!; 3q ;6 U J6 '!; <JBJV/ U J6
9pKy= U J6 V= 9p9BJ= v]JEL:JV9 6 BE 9J B EJ= 7 *
AljJ96J 3JV
39J U J6 V= v]JEL '!; BE 9J B EJ= 7 *
AljJ96J 3JV
39J 4SK?Ky 9J ?r9. ?Ky v]JEL:JV9 6 9J '!;
BE 9J B EJ= 7 * AljJ96J 3JV 9J U J6 v]JEL:JV9 :J$%N= BE
9J B EJ= 7 * AljJ96J 3JV 39J '!; 7J 9pKyV J' B V/
K9? K4V6= K5 A;E 6M7Kv]/ 3JK V/ 9J5p V= 9J =J= 7 *
AljJ96J 3JV O
U J6 ?r; J4J>/ AlV q KAJeb 3q U=JVE4J4 9p/L/ ?r;
J4J>V/= ;6 U J6 KAJeb 9J JV4? <JBJV/ U J6 ;J;>J
%PCJeb:JV9 K6uK BEO
29
vZL; 3q
J V6= 5L6 7.L/ U J6 vZL;O
=t$>7 (X<7
=)G7<
< @0>0 2$Y<,1>
O < @0>0 2$Y<,1>Aoo

7V/p 7K/JV6 ?rK; "V.= K6VEJ"
/FAGzJeb J6M@K
6pJ6p K9@EJK4
5pJVE= K95J6 6M<JEL 7K=%JK>/
B V9H
/V9 ?/q 3JV U B V/ 7JK=V9 6JO
7 5J=J
= ?/qJGV? K>K!/ %J N=L K9K5 6MV;J4V6= '6p
7K/JV6= ;JK> /Tq 75J6 7K=4?qV = K6 * U7? K=V/ B V9
9G 75J6 7K=4?q BJ 7JK= &E ;JVA= ;V5p /JBJ= K9V9%6JE
<3J<3 JV4? 74J6 K=V96O
75J6 7K=4?qV = 6MV;J46 9p/L/ 7 5J=J
K>K!/ U J6
%J N=L K9K5 J<q = =J <J V9 6JO
75J6 7K=4?qV = JV4V? AG{M U J6 9pKy JV4? 7JK= K?
K4V6= ;V5p A= JV== K6 * J7L> U7? K=V/ 7JK=V96 9G
J7LV>= 7= A= JV== JV4? %PCJeb B V9O
7 5J=J
= U J6 K95J6 A= JV== ;JK> J6J5L6 9p9v]J76J5L6
9J K6Ee.J5L6 U J6 7K/JV6= U{V 7V<J'p B V9 6JO
O
2Z=. G#0 F2Z#> =,-< ,9 =2`<)=,2> <1Aoo
JV'= 5=6
7 TK/= K:KV/ U J6 7K/JV6 K6VEJK'/ ?rK; ".V K6;gK>K!/
U?r.LV/ K9:y =J <J V9 <3J Hoo
K?{J5L6
! 94>L
" AJ;KE
# v]JEL
$ K?{J6K9?
% v]JELO
U J6 ?rK; V K?{J5L6 ?rK; 9>J B V9 <K4 U J6 7K/JV6 /JBJ=
15
30
K6VEJ" 7K?{.J3qL KBAJV9 BE 9G 7K?{. JV> /JBJV :J/J

74J6 =J BEO
U J6 ?rK; V 94>L ?rK; 9>J B V9 <K4 U J6 7K/JV6 /JBJV
U J6 v]JEL ?rK; 9J K?{J6K9V?= 7V4 /JBJV4= AJ;KE
6M7Kv]K/ J>L6 A;VE= '6p K6<My =J BEO
U J6 ?rK; V AJ;KE ?rK; 9>J B V9 <K4 U J6 7K/JV6 /JBJ=
K6VEJ" AJ;KE 5=V6= BEO
U J6 ?rK; V v]JEL ?rK; 9>J B V9 <K4 U J6 7K/JV6 /JBJ=
K6VEJ" ;6 U J6 JV'= '6p BE <JBJ Jeb:JV9 v]JEL 5=V6=
9G <JBJ ALK;/ A;VE= ;V5p Al6g B EJ= AljJ96J 3JV O
U J6 ?rK; V K?{J6K9? ?rK; 9>J B V9 <K4 U J6 7K/JV6=
U J6 v]JEL 7V4 /JBJV
J7J//H K6VEJ" =J BE 9G /JBJ=
K?{J6K9?L J> A;J 6J B EJ 3JV O
U J6 ?rK; V v]JEL ?rK; 9>J B V9 <K4 U J6 7K/JV6 /JBJV
v]JEL:JV9 K6<My =J BE
39J 7K/JV6 K/K6 /JBJ=
K?{J6K9?L J> AVebJ@'6 :JV9 A;J K=EJ 3JV 6O
U =J6L AGzJeb JV' K6<My U J6 ?rK;V = K?{J6K9?L J> B V9
&E ;JA 9G 6pJ6p ?rK;V = '6p
A;E B V9 K/6 ;JA H
/V9 ?/q 3JV U<
'6 4{ ?rK;V = U{V /JBJ=
K?{J6K9?L J> J= K/6 ;JA 9SK =J <J V9 <K4 U J6 J=V.
73; K/6 ;JA K?{J6K9?L JV> /JBJ= JV'= ;J6 K6.qE =J Alj9
6J BEO
<K4 U J6 ?rK;V = %J N=L /JBJ= K?{J6K9?L JV> 9K5q/ A;EAB
9AJ6 BE 9G BJ= 7=9/qL K/6 9&V== ;V5p <K4 K/K6
;JK> /qS 7M6=JE K6<My B6 /JBJ B V> K/K6 <K4 6J v]JEL:JV9
K6<My B6
'6 K?{J6K9?L KBAJV9 ".p B V96 9G /JBJ= 6/N6
K?{J6K9?L J> ".6J= U{V 7PV9q= K?{J6K9?L J> KBAJV9 J6J
B V9O
<K4 U J6 v]JEL ?rK; U J6 6/M6 7V4 K?{J6K9? KBAJV9 K6<My B6
/JBJ B V> /JBJ= K?{J6K9?L JV> U /JBJ= K6'v2 !=V% /F /qS K6<My
7V/p ?rK;V = '6p K* AJK:qA 9 VE= 9p9v]J K=V96O
7V/p AJK:qA 9 ;JK>V = UB8J'V/ 3JK V9O
U J6 ?rK; V K6VEJ" =J= 7PV9q ;JK> /JBJ= K6 * B V/ 7PV9q J=
AJK:qA 9 />9 K=V96 <K4 y ?rK; 4J9L V=6 U< K/K6
K/7PV9q 6p U J6 ;JK>V = 5LV6 %J N=L K=EJV&6O
<K4 y ?rK;V = U J6 AJK:qA 9 3JV /JBJ B V> K/K6 BJ 6/N6
;JK>V = K6 * BvbJeb= K=V96 9G 6/N6 ;JK> /JBJV =K?4
74J6 K=EJ AJK:qA 9 K* K6' UB8J'V/ =JK!V96O
<K4 y ?rK;V = U J6 AJK:qA 9 6J 3JV /JBJ B V> 7 5J=J
6M<JEL AJK:qA 9 VE= 9p9v]J K=V/ B V9O
<K4 U J6 ?rK; AJK:qA 9 VE=
K* K7 K6V' AG={. K=V/
%JVB6 /JBJ B V> K6' !=V% K/K6 /JBJ K=V/ 7JK=V96O
U J6 ?rK;V = %J N=L 9AJ6 JV> ;JK> /JBJ= AJK:qA 9 U8=/
K4V96O
<K4 U8=/ T/ U J6 AJK:qA 9 9J AJK:qA 9 VE= U J6 K7 ?rK;
BJ=J EJ U8V>6 /JBJ B V> ;JK> ?rK;V = !=V% /JBJV AJK:qA
9 VE= K* K7 A=9=JB K=V96O
5J=J= U J6 K &M K?{J5L6 94>L 9J AJ;KE ?rK;V = U{V
7V<J'p B V9 6JO
O 4<=-Y4 , G70 +0.Aoo AJK:qA 9 K9K5 J=J K65qJK=/ ;JV7 8=V;
=K{/ B V9 9G BJV/ ?rK;V = K* 8V*J AGV<JK'/ 3JK V9O
AJK:qA 9 VE K6;gK>K!/ K99=. 3JK V9 <3JHoo
?rK;V = 6J; ?rK;V = ;J/J K7/J= 6J; K+ J6J
7V<J'p U{V v2J;L vL= 6J; K>K!V/ B V9
! '6m /JK=!
" A6Jy =J= 7VEJ'V6 K9V?@ K99=.
# <K4 7PV9q U J6 ;JK>V = 5LV6 %J N=L K=EJ 3JV 6 /JBJ B V>
/JBJ= 6J; K+ J6J
$ %J N=L= U;EJ4
*=0 7 *mOooU J6 ;JK> K6VEJ"7 74J6 6J K=EJ U J6

31
16
32
%
&
'
(
U7?J 9J 749L
;'M=L :J/J <K4 3JV
U:J" T/ &MK* 9G
?rK;V = J%=.O
O 4<=-Y4 , G7 PO-?Y=Âoo;JK> U J6 ?rK;V = %J N=L= =^V/ 9G /JBJ=

%J N=L %>J JV> /FAlV q AJK:qA 9 V/ A;E A;E
5pJE 9G K9K5= 5L6
7VEJ'6LE /3pJK4 K>K79 K=V96 9G ;JK>
?rK; :VE BJV/ 4vb!/
K=V96O
"
#
O 2Z=. F0= ~<0 ,9 = G

<!Y 40,0<5Aoo
;JK> /JBJ=
7K/JV6= A > ?rK;V = '6p
K* ?rK; U=K'J= =JK!V96 9G BJ A >
;qA;VE 7K=4?q /Tq 7K=4?qV6= '6p 7v\/ =JK!V/ B V9O
?rK; U=K'JV= K6;gK>K!/ K9@E}K> K>K79 3JK V9 <3JH
7V/p ?rK;V = 6J; '6m /JK=!
! K6VEJV"= /JK=!
" JV'= 5=.
# /JBJ= '6p K65qJK=/ J<q A;E
$ K9?rJ; 9G JBJV== '6p /JBJ= 7J7p K9=K/ J>
% /JBJ= 7J7p K9?rJV;= K46
& U J6 "^V7= eb:Mqy B V> BJ= V>!
' /JBJ= "^7 7J>JE J' K=V> U< K=V>V/ /JBJ= J' 9=J BJ=
V>! 9G
( K9K5 J=J K65qJK=/ 6pJ6p 9.q6JO
<K4 7K=4?q
;/ U7J@. V=6 U< 7 5J=J
K>K!/
K99=. U J6 7K/JV6 =^K*6 ;JK8 =K{/ ;JJ= U=J> 9J
U=K'JV= K>K79 =J JV& /JBJ B V> K/K6 K>K!/ JV4?
J=J
;V;q K6V4q? K4V/ 7JK=V96 U< y ;JJ= U=J> 9J
U=K'J= ?rK; U=K'J= KBAJV9 ".p B V9 9G /F7K=9V/q BJ
=K{/ B V9O
A= J= K9K5 J=J ?rK; U=K'JV== 8=; BJ ={V.= 7e]J 9G
AG={V.= U;EJ4 K65qJ=. K=V/ 7JK=V9O
;JK> 7V/p ?rK; V K6;gK>K!/:JV9 K*V * 9J J,q A=9=JB
33
K=V96 <3JH
7V/p v]JEL ?rK; V /JBJ= 6l2= V>!7P9q v]JEL K9:J"LE
K*V *
7V/p 94>L ?rK; V
K* 94>L J,q <JBJV/ K/K6 U< A;vb K46
J' K=EJV&6 /JBJ= V>! 3JK V9 9G <JBJ /JBJ= v]JEL %J N=L
7JK= U{V U8=/ K4V/ B V9
7V/p
v]JEL ?rK; V
K* v]JEL K*V * <JBJ /JBJ= %J N=L
7K=/pJV"= U{V 9J v]JEL %J N=L 7JK= U{V U8=/ K4V/ B V9
7V/p AJ;KE ?rK; V
K* AJ;KE J,q <JBJV/ K/K6 U< A >
K46 J' K=EJV&6 /JBJ= V>! 3JK V9 9G
7V/p K?{J5L6 ?rK; V
K* K?{J5L6 J,q <JBJ /JBJ= 7K?{.
/pJV"= A;E 9J v]JEL %J N=L 7JK= U{V U8=/ K4V/ B V9O
O ?= 0 *s=$Aoo
U J6 ?rK; &MK* K6V/ _&J K=V> /JBJ= ;JK>V =
K6 * K>K!/:JV9 4=!Jvb K=V/ B V9 9G BJV/ /JBJ= &MK*V/ 9v]J6 J>L6
K+ J6J V>! 3JK V9O
;JK> 9J /JBJ= K6 * B V/ {;/J7J U J6 ;q /qJ 6M=R7
4=!Jvb 7JK= AJ/ K4V6= ;V5p 39J &MK* =^ B EJ= 4M K46 7PV9q
<JBJ JV" AG#K*/ BE /JBJ= JV4? 74J6 K=V96 H
/V9 ?/q 3JV U< '=^=L J=.9?/H <K4 7J3qL/ &MK* 4=!JVvb=
/JK=V! 39J BJ= K/6 K4V6= ;V5p =^ K=V/ BE /JBJ B V>
6M=R7 JV4? 4=!Jvb 7JK= K4V6 74J6 K=V/ B V9O
<K4 7J3qL/ &MK* ;M= =J BE /JBJ B V> AGK? ?rK; V
K*
&MK*= 7JA U4 EJ B V9O
<K4 7J3qL/ &MK* 6J;M= 9J v]K"/ =J BE /JBJ B V> 6J;M= 9J
v]K"/JV4V?= J=.AB BJ AGK? ?rK; V 7JK3q/ &MK* J=lj
B EJ= /JK=V!= 7PV9q 9KB/ K=V/ B V9 9G /4 VV?p
=K{/ U=K'JV= BJ K>K79 K=V/ B V9O
<K4 U J6 ?rK; &MK*V/ <J EJ= 7= &MK*= U;EJ4 9K5q/ K=V/
%JVB6 /JBJ B V> /JBJV &MK* 7J 6J 3JK V> &MK* U?@ B EJ=
<V3 JV" BJ= '6p ;JK>V = K6 * 4=!Jvb K=V/ B V9 9G
;JK> V &MK* 9K5q/ =V.= JV946 ;M= 9J 6J ;M= K=EJ
?rK;V = &MK*= K+ J6JE K>K!/:JV9 'J6J V/ B V9O
17
34
;'M=L 6J 7J V/ 7JV=6O
<K4 J' 9V= U;EJ4
;q K49VA= K5 BE /JBJ B V>
AJ;KE 9J 94>L ?rK; 9p/L/ AGK? 7V/p ?rK; V
K4V6= K/K=y A > 9 ;q K49VA= '6p ;'M=L 74J6 =J B V9O
<K4 J' 9V= U;EJ4 K/6 ;q K49VA= K5 BE /JBJ B V>
AGK? ?rK; ".V 5J=J
= K95J6 6M<JEL U> 8 =J
B V9O
7 5J=J
K>K!/ U> 8 J' 9 B EJ= 73; K46
B V/ 9>9F B V9 9G 73; K/6 K4V6= '6p 74 U J6 ;'M=L
AGK? ?rK; V 7V4E U> 8 J>L6 {K/7P=V.= AKB/ A;Ke2/
=J B V9O
J' 9V= J=V. <K4 U J6 K+ J BJV== ?rK; {K/"v] B6 /JBJ
B V> 7 5J=J
= 7VEJ'V6 /JBJ= 7P9q9/qL
;JVA= "C
W4K6 JEV X4K6 ;'M=L 9K>EJ ".p =J B V9O
O ,X=7$ ?= 0 . ?0> *r'<)Aoo<K4 U J6 ?rK;V = %J N=L &IJ*J K,A%J'q

7AJ=. 9=!Jvb 9A= 74/pJ" 9J 6p U J6 J=V. 9AJ6 BE 9G <K4
/JBJ= U J6 9JFAK= &MK* 7J 6J 3JV /JBJ B V> ;JK>
7J 6J &MK*= 7K=9V/q
J V6= K95J6 6M<JEL &MK* J>L6 A;VE y ?rK;V = U< ;'M=L 7J7p B /
/JBJ 74J6 K=V96O
O < ,v 0< <Aoo
K"g J J Kuo K97K <e7JK/ K9 > K94MpF
A=9=JB 9 ;BJ;J=L 9pJ7 4JJ BJJ;J 39J ;JK>V = K6Ee. 9KB:Pq/ 6p
U J6 J=V. 7VEJ'6 B V> U J6 ;JK> U =JK!V/ 7K=V96O
<K4 y=R7 9V= JV4? ;qA;VE= 7V= U4 EJ BE /JBJ B V>
7=9/Lq ;qA;E =^ B EJ= JV" ;JK> 7K/JV6= AGK? ?J!J=
U6JK*? U9JV,q 9J U J6 7 J?p v]JV6 U6JK*? AIJK*EJ 9J >* J EJ K4EJ
y K9@VE AGK? ?rK; ".V 9KB/ K=V96 O
7 5J=J
K>K!/ U6JK*V? 9 7=9/Lq J' !6 =^
B V9 9G AGK? ?rK; ".V J' 7M6=JE =^ B EJ= 7PV9q U J6
A;E /JBJV4= ;qv]V> 9v]J6 K=V/ B V9 K 6J /FAlV q
K6V4q? 3JK V9O
<K4 y=R7 9 ;qA;VE= ;V5p AG#K*/ BE /JBJ B V> ;JK>
7 5J=J
K>K!/ 7e]JE U6JK*? ;J=8/ AGK?
?rK; ".V <3J?L# Alj9 /FAlV q 9KB/ K=V96 9G
U6JK*V? 7=9/Lq J' !6 =^ B V9 9G ?rK; ". ;qv]V>
9v]J6 K=V96 K 6J /FAlV q K6V4q? 3JK V9O
y=R7 J' 9V= 7= U< A;vb ?rK; V ;qv]V> 9v]JV6= K6V4q?
U4 EJ B V9 /JBJV4=
9v]JV6= A;E
#f*J= ; B V>
/JBJ=J U J6 ;'M=L 6J 7J V/ 7JV=6 9G
9v]JV6= A;E
BJ= K5 B V> /JBJ=J 9v]J6 J>L6 AlP.q A;VE= '6p ;'M=L
7J V96 O
<K4 J' 9V= U;EJ4
;q K49VA= U%VE U9?L 6J BE /JBJ
B V> AGK? U J6 ?rK;
7 5J=J
= U{ 9p/L/ U J6
35
O *r=$|<) ,v 0< <Aoo

U J6 7K/JV6= U J6 ?J!J 9J K9:JV" U9
J 6L 5;q#V*= J=V. ;JK> y ?J!J 9J 7K/J6 JGK? 9J AlP.q 9 K=EJ
K4V/ 7JK=V96 9G =R7 9V= U{V 5;q#V* G?"B. J=L ?rK; ". U J6 ;'M=L
7J V96 6JO
<K4 7 5J=J
= 5L6 U J6 ?J!J 9J K9:J" 9V= J=V.
7K/JV6= 6p U J6 ?J!J 9J K9:J" ;6:JV9 {K/"v] BE U< BJ
%J>M =J!J Alj9 6VB /JBJ B V> y ?J!J 9J K9:J" 9 K=EJ
U4 EJ <J V9 K e\ UAV{V AGK? ?rK; ".V K/6 K46 7<qeb
U> 8 = U{V 7V4E {K/7P=V.= A;7K=;J. ;'M=L 74J6
K=V/ B V9 /V9
U;EJV4= K/K=y A;VE= '6p /JBJ=J J=
U J6 ;'M=L 6J 7J V/ 7JV=6O
y=R7 9V= K9@EK* ;JK> <3J?L# Alj9 AGK? ?J!J 9J
K9:JV"= U6JK*? U9JV,q 9J 7K/JV6= U J6 7 J?pv]JV6 U6JK*?
AIJK*EJ 9J >* J EJ K4EJ AGK? A >V
9KB/ K=V96 9G
J' 7M6=JE =^ B 9J= K9@E y=RV7 K9JK7/ K=V96O
O =$*7 F`Gm p ,840q p 7 .<4q ,9 p. ?0>q #)<Aoo
5pJVE= 7VEJ'V6 U J6 ?rK; U J6 7K/JV6 7P9q9/qL 9J= 7K J ;JVA 9JvbV9
18
36
eb/H 4M ?/ %K>? K46 9J

?/ K9? K46 J' K=EJ 3JV 6 /JBJ B V>
K/K6 <3JzV; 9FA= 9J &E ;JA 7K/JV6 K9K_&6g:JV9 J' K=EJV&6
9K>EJ ".p B V96O
7 5J=J
K>K!/ U J6 ?rK;V = 9JvbV9 J' =J= K46
".6J= U{V K6;gK>K!/ K46}K> ".6JE J6J B V9 <3JHoo
/JBJ= U7 V8= K46}K>
! AMv]/J 9J 4M#q*6J= J=V. ;'M=LAB 9J K96J ;'M=LV/ &MK*= K46}K>
" W95 5;q#* 39J X95 > J V*= J=V. ;qBL6 K46}K>
# ;KB>J ?rK; "V.= U{V 6K5 U@J> AJB 7<qeb 7APK/ &MK*O
5J=J
39J
= 5L6 {K/7P=. 39J 5J=J
39J
= 5L6 ;'M=L KBAJV9= 7VEJ'V6 ;'M=L 9K>V/
U J6 ?rK;V = &J*J 9=!Jvb 7AJ=. K,A%J'q 9A= "B. 9J
%J N=L= 9AJV6= 9p9KB/ 7PV9q= 9J= ;JVA 74 /JBJ= ;P> ;'M=L
9G ;BJ#q :J/J 9G , B 9J eb9/qL ;'M=L <K4 3JV
= "C
9M(J V9O
3JV 6O
;JK>
9G ?rK;V = ;V5p K:6g=R7 U J6 %NKy 6J 3JK V> U J6
?rK;
5J=J= 5L6 U J6 7K J 9FAV= 7IE/JK>? K4V6=
K5 A;VE= '6p {K/7P=. 7J V96 6JO
7 5J=J
<JBJ K &M 3J N 6J U 6 <K4 U J6 7K J 9FAV=
U J6 ?rK; V
K9K_&6g:JV9 9J K9K_&6g:JV9 7IE/JK>? K4V6=
K5 A;VE= '6p U> 8 =J BE 9G y 7IE/JK>? K4V6=
7= U> V8= A;E <K4 JV=J 76= K46 9J /4P5hq BE /JBJ B V>
y ?rK; V ?rK;
9G ;JK>V = ;V5p K:6g=RV7 U J6 %NKy 6J
3JK V> 7=9/qL 7V/p 76= 9J /4P5hq K46A;PVB= U> V8= '6p
{K/7P=. 74J6 K=V/ B V9O
7 5J=J
K>K!/ {K/7P=V.= 7K=;J. B V9 AGK?
?rK;V = U;J* ;P> ;'M=L 9G ;BJ#q :J/J 9G ,B 9J eb9/qL
;'M=L <K4 3JV
=
%/N3qJG? 9G <K4 J9JKA :J/J 3JV
/JBJ= AlPV.q= A;J6O
U J6 U{V <K4 U J6 ?rK; V U J6 7K J 9FAV= 7V=
K>K!/ 73; 7IE/JK>? K46 U> V8= 7= U J6 K9K_&6g 76=
K46 9J /4P5hq A;VE= '6p U> 8 K=V/ BE /JBJ B V> ;JK>
y ?rK; V U> V8= 7K=9V/q 5J=J
= 5L6 &J*J K=V/
7JK=V96O
O (<0<
,9 *rG7<G 0 F`Gm ,<(< =)G3(Aoo
5pJVE=
6p <JBJ K &M 3J N 6J U 6 eb/H 7IJ% '6 ?rK; K6<My 6J 9J 7P9q9/qL 9J=
;JVA K6<My K&V>6 6J =R7 U J6 7K/JV6 5J=J
9G
=
K95J6J9>L 7V<J'p B V9 6JO
O F1 + E$ 2Z=. G#0 `=$*B0G#0 =( <0Aoo
U< U{V 94>L 9J
AJ;KE ?rK; 6VB6 =R7 U J6 ?rK; V <JBJ= 6J; U J6 7K/JV6= ;JJ=
U=JV> eb:Mqy JV& 9G K<K6 ;JK>V = 5L6 eb/H
9FA= %J N=L AlP.q
K=EJV&6 U> 8 =J BE /JBJ B V> ;JK> /JBJV AJJKB &MK*= K46 9p/L/
/JBJ= U> V8= A > K4V6= '6p {K/7P=. 74J6 K=V96O
7 5J=J
K>K!/ {K/7P=V.= 7K=;J. B V9 AGK?
?rK;V = U;J* ;P> ;'M=L 9G ;BJ#q :J/J 9G , B 9J eb9/qL
;'M=L <K4 3JV
= V5q
9G /JBJV U> 8 =J 6J B V>
K/K6 U< J9JKA :J/J 7J V/6 /JBJ= AlPV.q= A;J6O
U< 94>L ?rK;V = 6J; U J6 7K/JV6= ;JJ= U=JV>= eb:qMy
JV& K/K6
5J=J= 7VEJ'V6 94>L 9K>EJ ".p B V96 6J <K4
K/K6 y 7K/JV6 K9K_&6g:JV9
9&= %J N=L AlP.q K=EJ
37
O F1 + E$ 2Z=. G#0 .<~<0 F0<1Aoo U J6 7K/JV6 ?rK; ".V U>

8 =J AVi ;JK> V /JBJV4= '6p ;JJ= U=J> AG={. K=V/ B V9 9G
v2J:JK9 ;qA;VE U> 8 T/ ?rK; "V.= ;V5p <JBJ=J JV'= '6p BJK'=J K4V96
/JBJV4= 6J; BJV/ K>K79 =J= 9p9v]J K=V96O
O =$*7 F`Gm F1 + E$ 2Z=. # `=$*B0# *< ,<0
)<Aoo
5pJVE= 6p <JBJ K &M 3J N 6J U 6 U
?rK; V {K/7P=. 7V4E B V9 6J <K4
K/K6
7K/JV6 9J
;JK>V = 5L6
39J J* K V>JK;*J= 4P=V/i= ;V5p 9Kv]/ K:6g
4{/J 9J 7P9q K:/J= 7VEJ'6 6J =R7 U
;'M=LV/ J' "B. K=V/ v2L J= V=6
19
38
=( <0> 5 G,)
J6 U> 8 T/
?BV= 9J "JV;
U J6 7K/JV6
J6 K9 7V4
! K/K6 ;JK>V = K6V4q? AVi

eb/H K4V6
9J= 7K/JV6=
v2J:JK9 ;qA;VE= ;V5p U J6 K6K4q A;VE JV'= '6p BJK'=J 6J
U46O
7 5J=J
! = VV?p <K4 U> 8 T/ U J6 ?rK; U J6
K4V6 v2J:JK9 ;q A;VE= ;V5p K65qJK=/ U J6 A;VE JV'= '6p
BJK'=J U46 9G BJK'=J= 4M #J= ;V5p <K4 /JBJV U J6 J'
U4 EJ 6J BE /JBJ B V> K/K6 UA K4V6= '6p
5J=J= 3q
U;J/JV9 U> 8 T/ B EJV&6 9K>EJ ".p B V96O
7 5J=J
K>K!/ =RV7 <K4 U J6 U> 8 T/ ?rK; JV'=
'6p BJK'=J U46 9G /JBJV U J6 K4V6= U J6 7J>JE BJ =^
B EJ= 7JwJV> J' U4 EJ= 7K=9V/q /JBJV
K4V6 7J>J=
K/LEJV5q JV' BJK'= B EJ= '6p K6V4q? U4 EJ BE 9G K/K6
/46M<JEL JV'= '6p BJK'=J U46 /JBJ B V> K/K6
K4V6=
V5q ;q A;VE= '6p U> 8 B EJV&6 9K>EJ ".p B V96 9G
9K? V5q
;qA;VE /JBJV U J6 J' U4 EJ B
9J 6J
B
K/K6 %J N=LV/ K&V>6 9K>EJ K9V9K%/ B V96O
/JBJ= &IJ*J VE= J=. V>! K=EJ

;JVA= K>K!/ U6JK*?
K4V/ B V9 39J U6JK*? U;EJV4= '6p U6JK*V?= 7K=9V/q ;'M=L
74J6 K=V/ B V9
! U6JK*V?= K* K7 75J6 7K=4?q 39J /F /qS K65qJK=/ U J6
;q /qJ= K6 * U7=. K=V/ B V9 9G JV= K* K7 7K/JV6=
U<Y3 4= @J K@ 7K/K6K5V <K4 3JV K4V/ B V9 9G
" /JBJV {K/7P=. 9J94 /JBJ= 7V/p 9FA= %J N=L= '6p K?
K4V6= ;'M=L 9J "J%N K* <K4 7V4E BE <JBJ K5 B V9 74J6
K=V/ B V9O
7 5J=J
<JBJ K &M 3J N 6J U 6 5J=J
= 5L6
&IJ*J VE= U{V 7 5J=J
K>K!/ U J6 U6JK*V?=
7VEJ'6 B V9 6J /V9 &IJ*J S/ ?rK; V
7 5J=J
"
U;J/JV9 7V4E {K/7P=. 9J "J%N K*= K/K=y KBAJV9 JV=J
76= K4V6= ;'M=L K4V/ B V9O
U< U{V U J6 K9V?@ U?r.L= ?rK; V &IJ*J =J= 7VEJ'6 BE UA
U{V ;JK>
9G ?rK;V = ;V5p /4AGzJeb U J6 %NKy=
9/q;JV6 ;JK>
y U?r.L= ?rK; "V.= ;V5p A9qV?V@ K6<My
?rK; V &IJ*J K=V96O
O .D$?X =)$ 4?=,(<Aoo<K4 U J6 ?rK; U J6 ;JK>V = 5L6 K9K_&6g:JV9

eb/H K/6 9&V== K5 J> %J N=L=/ 3J J 9v]JE ;S/Mp9=. V=6 /JBJ B V>
;JK> ;S/ ?rK;V = U J6 ;V6J6L/ 9pKy 9J ;V6J6L/ 9pKy= 9/q;JV6 /JBJ= U J6
U7J@pV /JBJ= 7V/p 7P.q 9FA= 9J BJ= &E ;JVA= K5 A;E %J N=L= '6p
{K/7P=. KBAJV9 K? K4V6= ;'M=L 39J "J%N K* <JBJ K5 B V9 74J6
K=V96 9G
3q ;S/ ?rK; %J N=L B V/ 9A= "B. K=V> U< AMK95J 7J
B V/6 /JBJ= K/K=y KBAJV9 7V4E B V9H
/V9 ?/q 3JV U< ;S/ ?rK; <K4 7K/JV6= U J6 9J5p/J;P> 9L;J vZLV;=
J /J:My B6 39J <K4 /JBJ= U{V J4? 5pJVE= 5L6 U J6 {K/7P=.
7V4E BE /JBJ B V> <JBJ K5 B V9 /JBJ y ?rK;V = U{V 7V4E B V9O
O ;< < E$ 2Z=.G 0 *?): =)G7< Aoo U< U{V U J6 ?rK; V &IJ*J =J
BE 9G &IJ*J VE=
9FAV== ;V5p ;JK> 7M6=JE U J6 ?rK; K6VEJ" K=V/
_&M B6 UA U{V ;JK> &IJ*J T/ ?rK;V = A9qV?@ 'J6J K+ J6JE U6JK*? U7=.
K=EJ /JBJV %J N=L= '6p JV946 K=V/ JBhJ6 'J6J V96 9G
JBhJV6
AJCJ K4EJ U J6 ?rK; 7M6=JE %J N=L 7J 9J= '6p JV946 K=V> /JBJV
K6VEJV"= 9pJ7JV= "JK5 J= U4 EJ B V9 9G = ; JK5 &IJ*J T/ ?rK;
7J3qL B V> /JBJV4= ;V5p 7PV9q= %J M=L= U'p/J= K:KV/ "JK5 J= U4 EJ
B V9O
O ;< < Aoo U J6 ?rK; V 7VEJ'6 K/K=y/J= J=V. U J6 7K/J6

B V/ &IJ*J =J <J V9O
U J6 ?rK; <K4 U J6 ;JK>V = 5LV6 K9K_&6g:JV9 6Mp6
9FA= %J N=LV/ K6VEJK'/ 3JV 6 /JBJ B V> /JBJ= &IJ*J VE=
U{V ;JK> V
O < @0> 5 G$ =!4 < YAoo

U J6 ?rK; V U J6 U=K'J,q K%K FA
/qS 7/pKE/ ?J=LK= 9J ;J6KA {;/J 9J 9pJB/ :"g v2JVv]p= J=V. %J N=L
B V/ K,A%J'q =J <J V9O
K,A%J'q T/ U J6 ?rK;
6Pp6
9FA= K9K_&6g %J N=L AlP.q
K=V> /JBJV ;JK> /JBJ= 7V/p 9FA= %J N=L= '6p {K/7P=.
39
20
40
KBAJV9 K? K4V6= ;'M=L 39J "J%N K* <K4 7V4E BE <JBJ K5

B V9 74J6 K=V96O
#M@ "B. 9J 74J6

# K96J &MK*V/ :pJA"/ 6M7Kv]K/ 39J &MK* 6J K6EJ
AV 4?
K4V6= K5 A;E 6M7Kv]K/
$ :pJA"/ K9>Vl2 7Kv]K/
% 7K/JV6 7V<J'p U J6 J 6 K9K5 9J 7K95JV6= :pJA"/ >G#6
& 7K/JV6 _&SG!> 9J 4JG"J BJG"J;J;P>
J%=. 39J ?SG!>J
BJK6 = U J6 ;q
' JV' V;q :pJA"/ "JK8>K/
( 75J6 7K=4?q
/qS
6MV;JK4/ %J N=L AGzJeb ?SG!>J 9J
J%=.AB UG#6
) ;JK>V = K8KAEJ> U= V,q= =494> 'J> =. 6pJE 7K=9/q6
BJ= {K/ =. 9J BJ BJ=J EJ U8>JO
7 5J=J
= 5L6 9=!Jvb T/ U J6 ?rK; <K4 J7LV>
!J>JA 7J6 /JBJ B V> /JBJV /JB= 7P9q/6 7V4 9BJ> K=V/
B V9 39J 6P/6 U J6 7<My 7V4 /JBJV K6VEJ" K=V/ B V9
9G <K4 BJ= U J6K* Alj9 6J BE /JBJ B V> /JBJV
K,A%J'q T/ U J6 ?rK; V 7V4E {K/7P=V.= A;J6 BJV= {K/7P=.
74J6 K=V/ B V9 /V9 9=!Jvb B EJ= J=V. K/;V5p 7J
{K/7P=V.= *J J BJ B V/ 9J4 <J V9O
O 4'< 0# ,9 'j *r<=x0 F`Gm 2<=\OAoo

J V6 U> 8
&IJ*J K,A%J'q 9G %J N=L= 9AJ6 AlV q 6p <JBJ K &M 9>J B 6J U 6
U J6 ?rK; V K96J U6JK*V? 9J U6JK*V?= 7K=9V/q K96J ;'M=LV/ %J N=L B V/
9=!Jvb =J <J V9 <K4 K/K6
U J6 U8Y'4J=L 7=JV5= '6p 47J B6 39J
! 5J=J
= 5L6 A4J%=V.= 7=JV5 U4J@L AJ9pvb B6O
A4J%=V.= 7=JV5 U4J@L AJ9pvb U J6 ?rK; V 7 5J=J
=
5L6 %J N=L B V/ 9=!JVvb= 7K=9V/q K9V?@ 9v]J= 7K=V7K{V/
K6;gK>K!/ U 6K5
9FA= 7<qeb J6E6
" 6K5
9FAV== '6p 7V4J6gK/ 9
# 6K5
9FAV== '6p ;'M=L 9SK 9
$ 'K=;J6J
% 6K5 AJ/ K46 7<qeb K96J ;'M=LV/ 9J K96J U!J=J LV/ AJ;KE
9=!Jvb
& :FqA6J A/ qL =.O
7 5J=J
= 5L6 9=!Jvb T/ 39J 7 5J=J
=
5L6 7AJK=/ U J6 ?rK; V <K4 /JBJ= K9K_&6g %J N=L= U;EJ4
6Mp6
9FA= BE ;JK> {K/7M=. 9J94 7V/p AlP.q %J N=L
9FAV== '6p U%Y K4V6= ;'M=L 39J "J%N K* <K4 7V4E BE <JBJ
K5 B V9 74J6 K=V96 H
/V9 ?/q 3JV U K/K6 U J6 {K/7P=. 7J V96
6JO
K6;gK>K!/ J' =J A4J%=. 9K>EJ ".p B V9 <3J H
7=Vv]= U J6 J 6AG"/ 9J <MKyAG"/ JV4? ;J6J= U{V
:JV9 9J V6p= AV AG#9 B EJ _&J T/:JV9 9J5p/J
! ;JK>V = 9p9AJ 9J AlK AlV q %NK= 7/J=.J 9J AJ5M/J
" ;JK>V = 5L6 /IJBJ= 9J 6p U J6 ?rK;V = %J N=L AGzJeb 9pJ7JV=
41
O 2<=\O0 *s=$Aoo
5J=J
= 5L6 U J6 ?rK;V = K9=RV ?JKvb=
JV4? 74J6 =J <J V9 6J <K4 6J
/JBJ= K9=RV K:V<J" K>K!/:JV9 =J BE
! K:V<JV"= K* K7 /JBJV U4 EJ BE 9G BJ= '9J9 U4 EJ=
'6p eb/H AJ/K46 A;E U4 EJ BE
" /JBJV 6J6L= AMV<J" U4 EJ BE
# /4Veb= 7= /JBJV U4J@L AJ9pvb =J BE
$ ;JK> 9J 9p9v]J7 9=!JVvb= JV4? 6MV;J46 V=6O
A4J%=V.= K:V<JV" K:<My U J6 ?rK; V /4eb AJV7V{
AJ;KE :JV9 9=!Jvb =J <J V9 9G <K4 6J K9@EK* J4J>V/
K9%J=J5L6 3JV
AJ;KE 9=!JVvb= U;J* U;EJ4 @J* K4V6=
K5 B V9 6J H
/V9 ?/q 3JV U< y=R7 AJ;KE 9=!Jvb JV> ;JK> /JBJV
21
42
/JBJ= "C ;'M=L ;BJ#q:J/J 9G ,B 9J eb9q/qL ;'M=L <K4

3JV
= V5q U!J=J L :J/J KBAJV9 74J6 K=V96O
AJ;KE 9=!JVvb= U J6 JV4? K>K!/:JV9 B V9 9G BJ ?rK; V
74JV6= AV AV J<q = B V9O
U J6 /4Veb K:<My ?rK; V /JBJ= 7K/JV6 K6VEJK'/ 9G
/F /qS ;V6J6L/ U J6 9pKy AJBJ
<JBJ= K9=RV
AJ{p 74J6 =J B V9 K/K6 AJ{LV U'=J K=V/
7JK=V96O
<K4 /4Veb U J6 ?rK; V U4J@L 7J EJ <JE 9G /JBJV 5J=J
= 5L6 ?JKvb 74J6 =J BE /JBJ B V> K/K6 /JBJ=
AJ;KE 9=!Jvb J>L6 A;VE= '6p U J6 ;'M=L 7J V96 6J /V9
y A;VE= '6p /JBJ= U!J=J L :J/J 7J7p 3JK V9O
<K4 /4Veb U J6 ?rK;V = 7=J5 7;JK./ 6J BE /JBJ B V> K/K6
AJ;KE 9=!Jvb J>L6 A;VE ;q=/ K&V>6 9K>EJ ".p B V96 9G
A;VE= '6p /JBJ= U!J=J L :J/J A;e2EAB ;'M=L 7V4E
B V9O
?JKvb 74JV6= U{V ?JKvb= JV4V?= K* K7 AGK? ?rK; V
K4V/ B V9O
<K4 U J6 ?rK; ;JK>
/qS U7K=/ U J6 U6JK*? K%K+
K:V<J"6J;J JV4? 9J 6p U J6 J"'7 "B. K=V/ v2L J=
V=6 /JBJ B V> BJ /JBJV 74J6 =J B EJV& 9K>EJ 9MK(V/
B V9 <K4 BJ= K* K7 U6JK*? U9JV,q 74K?q/ BE 9G JV= K*
K7 ;JK>V = 6K3 7 B V/ 7J ?rK;V = K+ J6JE U=K'Kr ,J
U<JV" U7=. =J BEO
U J6 ?JKvb 74JV6= 9pJ7JV= ;JK> AGK? ?rrK;V = 7P9q/6 6K3
7 7=JV5= }=^/i 9G K94p;J6 6p U J6 K9V?@ 9v]J
K9V9%6JE JK6V96O
U J6 ?rK;V = 7= JV=JK7/ 'K=;J6J K Kvb K:KV/ 9J BJ

JV=JV7= /JK=! B V/ @J* K46 K/zJeb B EJ= 7= J4JE =J
<J V9 6JO
U J6 'K=;J6J U< 7=JV5= '6p JV=JK7/ B EJV& UA 7=J5
AG#*V6= /JK=V! BJ JV=JK7/ B EJV& 9K>EJ ".p B V9O
A > 'K=;J6J 9G BJ= J4JE K9K5 J=J K65qJK=/
K*
U=K'JV= ;JK>
/qS K>K79 =J B V9 9G J4JE T/
'K=;J6J U 9>;J 7K/JV6 K6VEJK'/ ?rK; "V.= >pJ.;P>
JV' 9pE =J <J V9O
O ,0 <\O $X<=' ,X$>$ )X-<G, .<=1
$YD 2Z=.G 0 < @0>0
,4<)Aoo
5pJVE= 6p K95S/ U J6 7e]J &JCJ ;JK>
;JKA ;'M=L= K:KV/ K6VEJK'/ ?rK;V = U{V
?/ K9?
K4V6=
! 6p ?rK;V = U{V @J* K4V6=
K>K!/ U6JK*? 74J6 K=EJ U J6 v]JEL ?rK;V = %J N=L= 9AJ6
K=V/ 7JK=V96O
5pJVE= 6p K95S/ U J6 7e]J &JCJ ;JK>
;JKA ;'M=L= K:KV/ K6VEJK'/ ?rK;V = U{V K? K4V6=
! 6p ?rK;V = U{V U%Y K4V6=
K>K!/ U6JK*? 74J6 K=EJ U J6 v]JEL ?rK;V = %J N=L= 9AJ6
K=V/ 7JK=V96 <K4 6J
9AJ6 U< v]JEL J' AlJ4V6= '6p
?rK; V K6<My =J B EJV& BJ AlP.q B EJ 9 B EJ K9>M
B EJ 9J 7K=/py B EJ= J=V. BEO
U< U{V ;JK> K96J U6JK*V? U J6 ?rK;V = %J N=L= 9AJ6 K=V/
%JVB6 UA U{V K/K6 7 5J=J
39J
= 5L6 7V4E
U6JK*V?= 7K=9V/q U6JK*? U;EJV4= '6p ;'M=L 74J6 K=EJ BJ
K=V/ 7JK=V96O
U< U{V
5J=J= 5L6 U J6 v]JEL ?rK;V = %J N=L= 9AJ6 =J
BE UAV{V ;JK> ?rK; V /JBJ= 7V/p AlP.q 9FAV== %J N=L=
'6p {K/7P=. KBAJV9 K? K4V6= ;'M=L 39J "J%M K* <K4 7V4E
BE <JBJ K5 B V9 74J6 K=V96 9G
{K/7P=.
J V6= 5L6 ?rK; V 7V4E 6pJ6p AMK95J= K/K=y B V9O
O =0.<)< 4UG Y =,G23 =,(<)Aoo U J6 ;'M=L U;EJV4 7V4E ;'M=L=

4?;JGV?= K5 7K=;J. 3q U J6 ?rK; V 'K=;J6J =J <J V9 6JO
76= 9FAV== ; 9EvZ U J6 ?rK;V = 7= 'K=;J6J JV=J7 =J
<J V9 6JO
43
22
44
7=9/qLV/ %NKyK:K K6VEJ" K4V/ 7JK=V96O

O 2Z=.
$YD < @0>0 ,4<)Aoo
U J6 v]JEL ?rK; ;JK> V @J*
K4V6= K>K!/ U6JK*? 74J6 K=EJ /JBJ= %J N=L B V/ vb8J K4V/ 7JK=V96O
U J6 v]JEL ?rK;
;JKA ;'M=L= K:KV/ K6VEJK'/ ?rK;V = U{V K? K4V6=
! 6p ?rK;V = U{V U%Y K4V6=
K>K!/ U6JK*? ;JK>V = K6 * 74J6 K=EJ /JBJ= %J N=L B V/
vb8J K4V/ 7JK=V96O
U< U{V ?rK; K96J U6JK*V? %J N=L B V/ vb8J K4V/ %JVB6 UA
U{V K/K6 7 5J=J
39J
= 5L6 7V4E U6JK*V?=
7K=9V/q U6JK*? U;EJV4= '6p ;'M=L= A;7K=;J. 3q ;JK> V
74J6 K=EJ BJ K=V/ 7JK=V96O
U< U{V
5J=J= 5L6 U J6 v]JEL ?rK; %J N=L B V/ vb8J U46
UA U{V ;JK>
y ?rK; V {K/7P=. KBAJV9 /JBJ= 7V/p
AlP.q 9FAV== %J N=L= '6p
<K4 K/K6 7IJ% 9FA= 9J /4P5hq K e\ 4? 9FAV== ; U;EJV4
K9K_&6g:JV9 ;JK>V = 5L6 %J N=L K=EJ 3JV 6 /JBJ B V> U%Y
K4V6= ;'M=L
! <K4 K/K6 4? 9FA= 9J /4P5hq A;E ;JK>V = 5LV6 K9K_&6g:JV9
%J N=L K=EJ 3JV 6 /JBJ B V> K? K4V6= ;'M=L
39J "J%N K* <K4 7V4E BE <JBJ K5 B V9 74J6 K=V96
9G
{K/7P=.
J V6= 5L6 ?rK; V 7V4E 6pJ6p
AMK95J= K/K=y B V9O
O -=,3X $5=,1 *=0G2<(Aoo<K4 U J6 ?rK; U J6 :K9@p /BK9V>= A4Ap

B6 9G /BK9V>= K9K5 6M<JEL K/K6 ;JK>V = %IJ4JAB y /BK9> B V/ U J6
AMK95J 7J7p B6 /JBJ B V> /JBJ= &IJ*J K,A%J'q 9=!Jvb 9A= "B. 7AJ=.
9J %J N=L= 9AJ6 B EJ= J=V. y AMK95J B V/ /JBJV 9K/ =J <J V9 6JO
O 2Z=.G 0 B6<PO *< )< *=0G2<G(0 F.7<'Aoo 9A= K,A%J'q &IJ*J
9=!Jvb 9G %J N=L= 9AJ6 /pJK4 U 7J 6J 7K=V?J5 K=V/ B V9O
O < @0>0 *r$X7)*mAoo AJ;KE
94>L ?rK; 9p/L/ 6p U J6 ?rK;
/JBJ= &IJ*J K,A%J'q 9=!Jvb 7AJ=. 9A= "B. 9J %J N=L= 9AJV6= A;E
;JK>V = K6 * B V/ %J N=L AGzJeb K* 7/pE67 7J 9J= K5 J=L B V96O
O ,<4\L<) 5 G$ GN 'Aoo
U J6 ?rK;V = %J N=L= 9AJ6 B V>
/JBJ U /qS /JBJV 9=J T/ 9JAv]J6 &JKCEJ K4V96O
y A;VE= ;V5p 9JAv]J6 &JKCEJ 6J K4V> ;JK> ?r; J4J>V/
/JBJ= K9=^V K:V<J" U7? K=V/ 7JK=V96O
J4J>/ :E 7{V ?r9. K=EJ ;J;>JK* AGK{:JV9 K9%J=
K=V9 9G <MKyA/ A;VE= ;V5p ?rK; V 9JAv]J6K* &JKCEJ
U4 EJ= '6p K6V4q? K4V/ 7JK=V9O
J4J>/ /qS K65qJK=/ A;VE= ;V5p 9JAv]J6 &JKCEJ 6J K4V>
?rK; V
BJ B V/ 9>7P9q
V_&4 K=9J= '6p 7VEJ'6V9JV5
J4J>/ U J6 7MK>? ;q /qJV K6V4q? K4V/ 7JK=V9O
7 5J=J
= 5L6 J4J>V/= K6V4q? 7J 7MK>? ;q /qJ
J4J>V/= JV4V?= AJ=;;q 9G BJV/ /JBJ= 7V9V?= _&J
9JAv]JV6 9A9JA=/ 9pKy".V
9KB/ K=V96 9G 9JAv]J6
&JKCEJ U4 EJ= '6p /JBJK4"V eb/H &E #J A;E K4V96 9G
/H7= BJ= 4!> "BV.= '6p 9> 7VEJV"= 7PV9q BJV/
9A9JA J=L K? ".V 9JKB= B EJ JAJ= '6p AljJ9p A > AMV<J"
O 2Z=.G 0 ,40 r5#Aoo

5pJVE= 6p <JBJ K &M V>!
3J N 6J U 6 U J6 7K/JV6 K6VEJK'/ U J6 ?rK;V = 9EA
AJ/J6g 9FA=
7P.q B V> K/K6 %J N=L B V/ v2J:JK9 9A= "B. K=V96O
5J=J= VV?p 9EA <J%J VE= U{V AGK? ?rK;V = AJK:qA
9 VE K>K79 '6m /JK=! 7<My 7;J. KBAJV9 ".p B V9O
5J=J
= K95J6 6MAJV= K G9J 7K/JV6= K6'v2 %J N=L K9K5
6M<JEL 9A= "B. J=L ?rK;V = 7J7p 7J 6JK4 7K=V?J5 K=V/
B V9O
9A= "B. J=L U J6 ?rK; V
/qS7{ 7<My ;V6 K=V>
45
23
46
K4V96O
U J*q K8A 7V4E B V9 6JO

5J=J= 5L6 U J6 K:V<J"
J V6= 5L6 U J6 U8Y'4J=L
K:V<J" 9K>EJ ".p B V9 6JO
5J=JE <JBJ K &M 3J N 6J U 6 5J=J
= 5L6 74
%J N=L= 9AJV6= JV4V?= K9=^V U J6 K:V<J" =J <J V9 6J
<K4 6J 9AJV6= JV4?K* AGK? ?rK;V = U*r,
K6E6
;q JV= J=V. 39J V?p 7V.JK4/:JV9 74 B EJV& 9K>EJ
K:V<J" =J BE 39J <K4 6J K/K6 y 5J=J= 5L6 7J7p AMK95J
B V/ 9K/ B6O
O =-G/< *s=$Aoo
U> 8 &IJ*J K,A%J'q 9=!Jvb 7AJ=.
39J 6p U K/K6
K:V<JV"= J=. 9KB/ B EJ= /JK=! B V/ K? K4V6= ;V5p K:V<J"K* K>K!/
J JV= U=K'Kr ,J V<JV" ;JK>V = K6 * U7? K=V96 H
/V9 ?/q 3JV U< <K4 K6VEJ" J=L /Tq7{ K:V<J"K* A=JAK= "B. K=EJ
K>K!/:JV9 7JK v2L J= V=6 UA U{V y K:V<J"K* U=K'Kr ,J V<JV" 6J
7J+J V> %K>V9 O
;JK>
K:V<J" 7JK= 76= K4V6= ;V5p K:V<J" AlV q /4eb
K=V96 9G AGK? ?rK; V
6J6L= AMV<J" K4EJ /FAlV q
/JBJ= KAJeb K>K!/:JV9 ?rK; V 'J6J V96O
<K4 ;JK> 7 5J=J
= 5L6 U J6 KAJeb K4V/ 9p3q B6
39J AGK? ?rK; <K4 y=R7 KAJVeb Ae\ B6 /JBJ B V>
K/K6 7 5J=J
K>K!/ A;E K/zJeb B EJ= /JK=! B V/
K? K4V6= ;V5p 39J U{;/ ;JK>V = KAJVeb= /JK=! B V/
K? K4V6= ;V5p ?r; J4J>V/ K>K!/:JV9 K:V<J" U7? K=V/
7JK=V96O
?r; J4J>/ K:V<J" 7JK= 7= :E 7{V U6JK*? 74J6 K=EJ
K:V<J"K* AlV q /JBJV4= 9y9p ?r9. K=V9 9G BJ=
K9V9%6JE ;J;>J= 9v]J5LV6 U<=R7 JV4? U4 EJ 6pJEA/ UA=R7
JV4? 74J6 K=V9O
7 5J=J
= 5L6 74 U J6 JV4? J=J J4J>/ 6pJ6p
7K/ JV== ;V5p K:V<J" J=LV 9V EJ ;'M=L AB 9J &JCJ /JBJ=
%J N=LV/ 7P.9qBJ> =J= K6V4q? K4V/ 7JK=V9 9G U J6 9=!Jvb
7AJ=. 9J K,A%JV'q= JV4?V 5J=J
K>K!/ U J6
>#M 4V 7K=9K/q/ K=V/ 7JK=V9O
?r; J4J>V/= U J6 JV4? J=J AG{M U J6 9pKy JV4V?= K?
K4V6= ;V5p *rJ 9Mp6JV>= K6 * J7L> 4JVE= K=V/ 7JK=V96 9G
J7LV>= 7= BJ= KAJeb %PCJeb B V9O
5J=J= 5L6 U J6 K:V<J" 9J J7L> 4JVEV== '6p U J6
47
24
48
KBAJV9 ".p B V9O

O 4`.$< *r$X7)*mAoo
U J6 K V?J= U J6 U7?J 9J U J6 7K/JV6
JV'= '6p 7<My K 6J BJ 7=L{J K=9J= '6p AGK? K V?J= 9J /JBJ= K7/J
;J/J 9J K::J9 /qS
6M=R B V> 39J U J6 ;JK> /qS
6M=R7 :JV9
6M=R B V> U J6 U=K'J,q K%K FA K V?J=K*V 7=L{J K=V96 9G /JBJ=
A{;/J Al2V KAJeb K4V96H
/V9 ?/q 3JV U JV946K*= AV U< 7K/JV6 K V?J= %J N=L 7J3qL UA
7K/JV6= ;JK> /qS 74
;V;q 7 AGV<J'6 K=V/ B V9 U< K V?J=K*
A{; 9K>EJ 7/pKE/ B V> /JBJV %J N=L 74J6 =J B V9O
5J=J= 5L6 74 U J6 A{;/J 7/pE67 BJ 74JV6= /JK=!
B V/ 9JV=J ;JA 7<qeb 9>9F 3JK V9O
y=R7 7/pE67V= '6p 7V4E K8A ;JK> 74J6 K=V96 9G
BJ AGK? K V?J= 9J /JBJ= K7/J ;J/J 9J K::J9V = K6 *
B V/ J4JE =J <J V9 6JO
$E$>7 (X<7
= G2<0 2Z=. =)G7<
O =2z = G2<0 =)G7<G ,<(< =)G3(Aoo
U J6 U7?JE 9J 7K/JV6
U J6 K? V K6VEJ" =J <J V9 6J 9J J' K=V/ U4 EJ <J V9 6JO
U J6 U7?JE 9J 7K/JV6 U J6 K V?J=V K6VEJ" =J <J V9 6J 9J
J' K=V/ U4 EJ <J V9 6J <K4 6J
K9K5 J=J K65qJK=/ 8=V; '6 U=K'J,q K%K FA /qS /JBJV
74 A{;/J 7/pE67 ;JK>V = UB8J'V/ 3JV
9G
! JV' K6VEJK'/ 3J J JV> K/K6 y 7/pE67V= V>! Al2K>/
K* U*JV 6 9B6 V=6O
U J6 U7?J 9J 7K/JV6 U J6 K V?JV== K?{J5L6 KBAJV9 39J
9SK;P> 7K?{V.= '6p K6VEJV"= U{V 7 5J=J
= K &M
7V<J'p B V9 6JO
A= J= <K4 ;V6 V= U A= J= A= J=L U"V'V*
7J76 J=J BJV/ K>K!/ A;VE= '6p 7 5J=J
=
7VEJ" v]K"/ U#J@.J K=V/ 7JK=V9O
O !<^<0> *0>`<0 )X <G'2 *r'<G)0 `.$<Aoo U< U{V U J6

7K=4?q =R7 ;/ U7J@. V=6 UK!/
JV'= '6p J= A{; 6VB6
UA U{V K/K6 U6JK*? ;J=8/ ;JK> V U J6 U=K'J,q K%K FA
/qS K V?J=K*V 7=L{J =J 9J= 6MV=J5 K=V/ 7JK=V96 9G
K V?J=K* y=R7 7=L{JVeb A{; 9K>EJ 7/pKE/ 6J B EJ 7<qeb
39J K V?J=K* J= K V?J= 6E
;V;q 7/pKE/ 6J B EJ 7<qeb
/JBJV U J6 J' 6J U4 EJ= '6p K6V4q? K4V/ 7JK=V96O
O =2z 49_<PO =$*7 @=^0 ,X<*<G0 ,<(< =)G3(Aoo

5pJVE= K95J6
AJV7V{ U J6 K? = ;J/J K7/J 9J K::J9 K? V U J6 JV' K6VEJV"=
6M;K/ 74J6 K=EJ JBJ= AKB/ U J6 %NKy K=V/ 7JK=V96 6JO
,X< X<oo
5J=JE K::J9 9K>V/ K? = J 6"/ UB8J'/ J=L 9J
K? = 7= /qS/i JV& ;6 U 7K=4?q 7?gK* U J6 U=K'J,q K%K FA
/qS 74 AGK? 9pKy= 9EA AGzJeb 7/pE67V= 9/q;JV6 U J6 U=K'J,q
K%K FAV = K6 * KAJVeb= '6p U7=. K=V96O
7 5J=J
K>K!/ U=K'J,q K%K FA
/Tq 74 U J6
9pKy= 9EA AGzJeb 7/pE67 /JBJ= 9EA AlV q %PCJeb 7;J.
49
O =$*7 <G = G2<0 =)G7<G ,<(<Aoo U J6 7K/JV6= <e7JK/ %J>M

9v]JE BJ 7K=vZJV== '6p BJV/ U/> 74JV6= '6p 9J BJV AMK96pvb =J=
'6p 9J y %J>M <e7JK/= #P.qJE;J6 G?}K>= ;J(!JV6 39J Kv]= 9G #P.qJE;J6
G?}K>= ;J(!JV6 U J6 K V?J=V J' K=V/ 6M;K/ U4 EJ <J V9 6JO
25
50
O =,*d) /Pe*<=$0 <G = G2<0 =)G7< Aoo

U J6 K V?J=
<e7JK/= U J6 J' K=V96 6J <K4 6J
/JBJV
y <e7JK/ AGzJeb K974 AlV q 9G
9pJ7JV=
AJ95J6/J 9>l26 AlV q AlP.q:JV9 EJV 9BJ> =JV6J BE
9G
! K/K6 <e7JK/V/ J' =J= '6p <V3 7K?{. "B. K=EJV&6
39J K/K6 <e7JK/ AGzJeb K: 9G 7MV=J7MK= J6Al6g 9pKy=
/iJ95JV6 J' V=6O
7K=4?qV = K6 * B V/ K>K!/ 7P9q 6MV;J46 9p/L/ K? K4V6=

;V5p BJ 9JV== U9?L 7K=9/q6 =J <J V9 6JO
J V6= 5L6 AJJKB &MK* AGzJeb K95J6 K V?J= ?rK;V =
U{V 7V<J'p B V9 9G
K95JV6= 7VEJ" K V?J= ?rK;V =
U{V v]K"/ =J <J V9 6JO
K4V6 U J6 K V?J=
JK5 7K/JV6 J' K=V/ 7JK=V96
6JO
O -B G-Y ,9 *<=)0 )>G = G2<G00 =)G7< =)G3(Aoo U J6 K V?J=V
:P"V:q 9J 7JK6= 6LV% U J6 JV' K6VEJ" =J <J V9 6JO
O = G2<G00 <G 0 4.G70 F)<= 2Aoo
U J6 7K/JV6 K V?J= ?rK;
K6<My 3JK V> BJV/ K9K5 J=J K65qJK=/ 7K/V/ K V?JV== ;q#J AlV q
/JBJ= JV'= K6K4q A;E V>!AB
K* U6JK*? 74?q6 K=V/ B V9O
7 5J=J
K>K!/ U6JK*V? 74K?q/ A;E J' J=lj B EJ=
7PV9q 7J 9EvZ ?rK;V = U{V U<:JV9 Kv]= =J BE UA:JV9 Kv]=
K=V/ B V9 9G BJ ;6 B V9 U<6 y A;VE ;q=/ U J6
K V?J=V
J V6= U!>J7 U J6 J' K=V/ 6J BEO
U J6 7K/JV6 ;q=/ 7P.q 9EvZ ?rK;V = U{V 7V<J'p
/4AGzJeb K95J6 7 5J=J
= 5L6 U6JK*V?= U{V
7V<J'p B V9O
A= J= K9K5 J=J y U6JK*V?= 8=; 9G BJ ={.JV9{V.= 7K/
K65qJ=. K=V/ 7JK=V9O
O =$*7 F`Gm =2z 2Z=. =)G7<G ,X=$_.Aoo
5pJVE <JBJ
K &M 3J N 6J U 6 9JV=J 9FA= 9EH7J U J6 K? V ;6 U J6 BJ> J JV'
K6VEJ" =J <J V/ 7JK=V9 <JBJ /JBJ= v2Jv]p
6gK/= '6p K976 6VB 39J
<JBJ /JBJ= K?{J "B.V K9K#g/ K=V9 6J H
/V9 ?/q 3JV U< K? <K4 K94pJ>E"J;L BE /JBJ B V> /JBJ= ;qA;E
;6:JV9 K65qJ=. K=V/ B V9 U<6 BJ /JBJ= K94pJ>E ";6V K9K#g/ 6J V=O
K V?J= ?rK;V = U{V 7V<J'p
5pJVE= A > K95J6 </4P=
Alj9 y K? ?rK;V = U{V 7V<J'p B V9O
K95J6 U 9> ;J A > <e7JK/ AlV q 7V<J'p B V9 U<

AlV q A= J= K9K ;J=8/ U#J@.J V= U<
}K> ;6
K976 U< BJV/ 7 5J=J
K>K!/ ?/qJK4 7P=. 6J
B EJ 7<qeb U J6 K V?JV== 7V{ J' =J K%/ 6VBO
A= J= A;VE A;VE U"V'* K9K 7 JV?= ;J5pV; /peb (NIK 7P.q
JV'= U< /JK> J 7 J? K=V9
A > JV' U J6 K V?J=
K V?J=LV K6VEJ" =J <J V9 6JO
O = G2<G00 .Y Q <Aoo
U J6 K V?J=V U J6 J=!J6J 9J !K6V/
W4K6 7IJ% #J= K5 9G AJVB K? #J= K5 A;E J' K=V/ U4 EJ
B V9 6JO
U J6 K V?J=V 6p U J6 7K/JV6 W4K6 AJ/ #J= K5 9G
AJVB K9EJK>? #J= K5 A;E J' K=V/ U4 EJ <J V9 6JO
U J6 K V?J=V U J6 7K/JV6 ApJ
#K* J B V/ A J>
#K* J= ;5p9/qL A;VE U J6 J' K=V/ U4 EJ <J V9 6JO
<K4 U J6 K V?J= K5 J> J' V=6 /JBJ B V> K5 J>AB
/JBJ= JV'= U;J* A;E
J=!J6J 9J !K6= U{V AJVB &K? #J
! 6p U J6 7K/JV6= U{V AJVB J*%K>? #J = K5
B V9 6JO
U J6 7K/JV6 U J6 K V?JV== JV'= A;E 4M K* 7J>JE AL;J9
=JK!V/ B V9 9G BJ= U J6 7J>J= A;EAL;J AJVC AJ/ #J=
U9?L B V9 6JO
U J6 K V?J=V U 9>;J K* =LV>V/ K6VEJ" =J <J V9 9G
51
26
52
3JV 6O
U J6 ;KB>JV
y=R7 AMK95J 7V4E B V9 6J <K4 /JBJ= AebJ6
7AV9= A;E /JBJ= 4M 9J /V/JK5 AebJ6 'LK9/ 3JV /V9
V{V K/K6 U J6 &MK* 7J 9J= K5 J=L B V> /JBJ 7J V96O
$@&Y (X<7
*r4B=$ 1X<# 4?=,(<
O *r4B=$ 1X<# 4?=,(< *=0G2<( 49_<PO *s=$Aoo

U J6 ebHAiJ
;KB>J
J V6= 5L6 7APK/ >pJ. AMK95J 7J 9J= K5 J=L B V> K/K6 U V K>K!/ 9J U;YK! :JV9
;V;q U6JK*? K4V96 U< U6JK*V?=
J* AJVB= ;V5p /JBJ= AebJ6 7AV9= AljJ96J JV& 9G y U6JK*V? /JBJ=
;S/Mp= U{V
AMK95J K<K6 "B. K=V96 /JBJ= 6J; V>! 3JK V9O
U J6 ;KB>J y=R7 U J6 U6JK*? 74J6 6J K=EJ 3JK V> /JBJ=
AebJ6 7AV9= AJ/ K4V6= ;V5p K/K6 y=R7 U6JK*? 74J6 K=EJ
/JBJ= AebJ6 7A9 AlV q ;JK> V 9KB/ K=V96O
7 5J=J
39J
K>K!/ U6JK*? 7JK= 7= ;JK>
AGK? ;KB>JV
7 5J=J
= 5L6 U6JK*V?= U{V BJ 74JV6= /JK=V!=
7V== K46 B V/
! 7 5J=J
= 5L6 U6JK*V?= U{V AebJ6 7AV9= /JK=!
B V/ AebJ6 7AV9= 7=9/qL J* AJB 7<qeb JV' 6M7Kv]/
3JK 9J= '6p 6M;K/ K4V96O
U J6 ;JK> AGK? ;KB>J= _&J6M<JEL K6;gK>K!/ UpJ. AMK95J 74J6 K=V96 <3JH
U< U{V U J6 U=K'J,q K%K FAV = K6 * B V/
;V;q 7J
7r/pJE67 U7? =J BE U< ;KB>J= J* AJVB= ;V5p AebJ6
7AV9= AljJ96J JV& UA U{V 7/pJE67 U7? =J= 7=9/qL K/6
;q K49VA= ;V5p 7A9 7P9q9/qL J* AJVB= '6p 7V4E 7APK/
>pJ. AMK95J 74J6 K=V96 9G ;KB>J= AebJ6 7AV9= 7;J. U7?
=J= /JK=! B V/ 7=9/qL K/6 ;q K49VA= ;V5p 9K? A;VE=
'6p 7V4E y=R7 AMK95J 74J6 K=V96 39J
! ;JK>V = K6 * AebJ6 7AV9= 7;J. U7? =J= 7=9/qL K/6 ;q
K49VA= ;V5p AebJ6 7AV9= /JK=!AB BJ= 7P9q9/qL J* AJVB=
'6p 7V4E 7APK/ >pJ. AMK95J 74J6 K=V96 9G y 7;J.
U7V?= 7=9/qL J* AJVB= ;V5p 9K? U;EJV4= AMK95J 74J6
O =$*7 F`Gm .=51< 2Z=.G 0 G.Y =)G7< =)=3sAoo

U J6 ;JK>
/JBJ= 7K/JV6 AJV6 U J6 ;KB>JV /JBJ= AebJ6 7AV9= 9p9KB/ 7=9/qL J*
AJVB= ;V5p U J6 J' =JV/ 7JK=V96 6JO
U J6 ;KB>J U J6 7K/JV6 /JBJ= AebJ6 7AV9= 9p9KB/ 7=9/qL
J* AJVB= ;V5p U J6 J' K=V/ 7JK=V96 6JO
U J6 ;JK> U J6 ;KB>JV
;6 U J6 J' =J= '6p K6VEJ"
K=V/ 7JK=V96 6J <JBJ 4MuZ= 9J ?r; AJ5p 39J <JBJ= '6p 4L#q{.
4IJCJ EJ 3JK V/ BE 39J <JBJ /JBJ= '6p v2Jv]p BJK6 = B EJ=
AljJ96J 3JV <K4
/JBJ=
K9?nJA =J= J=. 3JV
39J <K4 ;KB>J /JBJV
9KB/ K=EJ 3JV 6 U< 4? AJVB= ;V5p /JBJ= AebJ6 7A9 =J=
AljJ96J JV&
! ;JK>V = 'J6J;V/ ;KB>J 7P9q9/Lq 4? AJVB= ;V5p AebJ6 7A9
K=EJV&6 H
/V9 ?/q 3JV U< %J 9J"J6 ?rK;V = U{V AGK? %J 9J"JV6=
K%K FA
/Tq </K46 7<qeb A{;/J= AJK*qK8V * 7J EJ <J V9
//K46 7<qeb y ?rK; BJ> J 5=V6= J' K=V/ 7JK=V96 9G
6M=R7 J' </K46 K/K6 K=V96 //K46 K/K6 y JV'= '6p
7%K>/ J 6 6MAJV= K65qJK=/ BJV= ;'M=L 7J V96 <JBJ 7APK/
>pJ. :J/J= K/K=y KBAJV9 7V4E B V9O
O *r4B=$ 1X<# 4?=,(< *r<=x0 =( <0 ,9 *r'<G)0 '<=7$SAoo 7V/p
;KB>J ?rK; /JBJ= ;JK>V = K6 * B V/ /JBJ= AebJ6 7AV9= AljJ9p /JK=V!=
9p9KB/ 7P9q9/qL J* AJB 9G AebJ6 7AV9= 9p9KB/ 7=9/qL J* AJVB=
'6p 7APK/ >pJ. AMK95J 7J 9J= K5 J=L B V96 9G /JBJ= ;JK> /JBJV
AMK95J 74J6 K=V/ 9J5p 3JK V96 H
/V9 ?/q 3JV UJ y=R7 AMK95J 7J V96 6J <K4 6J K/K6 /JBJ=
;JK>V = 5L6 /JBJ= AebJ6 7AV9= 9p9KB/ 7PV9q 6Mp6 &E ;JA J' K=EJ
53
27
54
K=V96 39J
" AebJ6 7AV9= 7;J. U7? =J= 7=9/qL K/6 ;q K49VA= ;V5p y
AlP.q A;VE= '6p 7V4E 7APK/ >pJ. AMK95J 74J6 K=V96 H
/V9 ?/q 3JV U<
7 5J=J= 5L6 U< 7APK/ >pJ. 9J BJ=
U J6 G? 74J6 AebJ6 7AV9= 7;J. U7V?= 7= K6:q=?L> UA=R7
U J6 7;J. U J6 ;KB>J /JBJ= AebJ6 7AV9= K/6 ;JVA= ;V5p U7?
6J K=V> K/K6
AMK95J 7J 9J= K5 J=L B V96 6JO
7 5J=J
= 5L6 U< 7;J. U7? K=V/ B V9 y 7;J. '6m
;S/Mp K696 J 6
AV6= 6G J 6 = 5L6
74 '6m U=K'JV== A/pJKE/ SK/ 39J U J6 U=K'J,q
K%K FAV = 7/pE67 39J ;JK>V = K6 * "B.V<J"p 6p U J6
7;J. B V/ 7JK=V9O
y=R7 AMK95J <K4 7V4E AMK95J B V/ U9?L BE /JBJ B V> BJ

J= U8=/ > V/ 7JK=V96 6J 9G ;KB>J= ;S/Mp= A;E 7<qeb <K4
;JK>V = K6 *
9J94 K &M 7J 6J 3JV /JBJ B V> K/K6
5pJVE= 5L6 ;KB>J= U J6 ;V6J6L/ 9pKyV
39J U J6
;V6J6L/ 9pKy 6J 3JK V> /JBJ= J 6"/ 7K/K6K5V BJ 74J6
K=V96O
O =$*7 F`Gm .=51<0 < @0>0 ,4<G) ,<(<Aoo <K4 U J6 ;KB>J=
AebJ6 7AV9= 7P9q9/qL &E ;JA 9G AebJ6 7AV9= 7=9/qL J* AJB U;EJV4= ;V5p
/JBJV %J N=L B V/ K,A%J'q 9=!Jvb 9J 7AJ=. =J= '6p 39J /JBJ= %J N=L
6p:JV9 9AJV6= '6p ;JK> U J6 U6JK*? 9J JV4? 74J6 V=6 9G y=R7
U6JK*? 9J JV4V?= <K4 <V3 U J6 J=. 6J 3JV /JBJ B V>
U6JK*? 9J
JV4? 74J6 6J =J B V>
5pJVE= 5L6 AGK? ;KB>J U< 7APK/ >pJ.
AMK95J 7J 9J= K5 J=L B V/6 BJ B V/ K/K6 9K/ B V96 6JO
O *r4B=$ 1X<# 4?=,(<0 *=0.<#Aoo

J V6= 5L6 U< 7APK/
>pJ. AMK95J 7V4E B V9 BJ 7 5J=J
K>K!/ 7e]JE ".6J K=EJ
W4K6 AJJKB 9J ;JKA U< U{V <JBJ 7V<J'p "C ;'M=L BJV= AlP.q 6"V4
74J6 K=V/ B V9O
7 5J=J
= 7VEJ'V6 W4K6 AJJKB 9J ;JKA "C ;'M=L
".6J= '6p AGK? ;KB>J /qS
5pJVE= 5L6 U6JK*?
74JV6= 9p9KB/ 7P9q9/qL K/6 ;JVA /JBJ= 7J U;J* ;'M=LV y
A;VE /JBJ= U;J* 7 T/ JV'= K46}K> J=J :J" K=V/ B V9O
O .=51<0 .D$?X0 F`Gm *r4B=$ 1X<# 4?=,(< *r'<)Aoo
5pJVE=
5L6 7APK/ >pJ. AMK95J 7J EJ= K5 J=L U J6 ;KB>J AebJ6 7A9 JV> 39J
BJ= 7=9/qL J* AJVB= ;V5p ;S/Mp9=. K=V> ;JK> K? AebJ6K* <K4 9IJK%EJ
3JV U< 9pKy K? = /iJ95JV6= 4JKE/i "B. V=6 /JBJV
9G <K4 K?
AebJ6 'LK9/ 6J 3JV /JBJ B V>
5pJVE= 5L6 ;KB>J= ;V6J6L/ 9pKyV
39J U J6 ;V6J6L/ 9pKy 6J 3JK V> ;S/ ;KB>J= J 6"/ 7K/K6K5V y=R7
AMK95J 74J6 K=V96O
<K4 y=R7 U J6 ;KB>J 7APK/ >pJ. AMK95J 7J EJ= K5 J=L
B EJ= A;E AL;J= ;V5p K e\ AebJ6 7AV9= 7PV9q ;J=J <J6 /JBJ
B V> ;JK> y ;KB>J= ;S/Mp= /JK=!AB /F7P9q9/qL A;VE= '6p
y=R7 AMK95J 74J6 K=V/ 9J5p 3JK V96 /V9 K/;V5p 74
55
28
56
*g. (X<7
/pK5
_% /J7 ASK B EJ= AljJ96J 3JV UAV{V U< FA
B V/ y=R7 _% /J7 ASK B V/V& BJV 9J BJ= G?V
/J7 7K=9JBL 9v\ J=J ;MKCEJ 9J 6p U J6 7e]JE ?rK; "V.= ;q
{ B V/ J>J4J =J= '6p </4P= Alj9 7<My 9p9v]J "B.
K=V/ B V9O
<K4 A= JV== K6 * BJ 7/LE;J6 BE U &J4 9J 'J6J>J %N6 J; K=EJ
Uv7 K=EJ 39J /J7 7K=9JBL K=EJ 9J 74qJ K4EJ 39J
&JV4= _%/J 9SK K=EJ 39J 6p U J6 K9V?@ 7e]JE BsJA =J
Alj9 BE /JBJ B V> A= J= y 7K/JV6 K>K!/ U B V/ K/ 4PK@/ 9Ju
B V/ ;My =JK!V/ B V9 9G K9V?@ K=EJ
7K/JV6= U;V( ;q { KAKC <J/JEJV/= 73 B V/ 7K/K46
(JCa K4EJ ;E>J
J9'q6J 7<My 7e]JE 7AJ=. K=V/ B V9
! 7V/p ;q V{= U;V( AJVB eb/H K46 U5Y/ K=V/ B V9
9G 7VEJ'V6 U5Y/ JV' 'L9J6M6J? 9p9BJ= K=V/ B V9
" U< U{V U J6 F7J46 7KzEJ= J=V. U J6 U;V( ;6:JV9
K:K'EJ <JE U< BJ= '6p 7JK6 K6uZJ?V6= 7VEJ'6 BE UAV{V
7JK6 K6uZJ?V6= 7<My 9p9v]J K=V/ B V9
# 7K/JV6= A > J:peb=L. U4 EJ> 7JK*q?6 &J4 KAKC
<J/JEJ/73
=G 39J 9JK6q? =J 3JK V> 7V/p K/6 9FAV= eb/H
9J= 7M6H =G 9J 9JK6q? K=V/ B V9
=G 39J 9JK6q? =J 9G 9KB:qJ" ;AS. B V> 7K/ U%Y ;JVA
eb/H 9J= BJ K9K5J=J K65qJK=/ 7e]JE 7K=uZJ= K=V/ B V9
6pJ6p U{V 7K/ U%Y ;JVA eb/H 9J= %N6 J;
9J =G K=V/ B V9 9G
$ 48J # U/ K>K!/ J<qJ9>L Al6g =J= /JK=! K9K5 J=J
K65qJK=/ U=K'JV= K>K79 K=EJ =JK!V/ B V9O
O (B1< ,<=1 F(;<7<Aoo

U J6 7K/JV6 F7J46 7KzEJ %>J= J=V.
<K4 U J6 5M>J 9JK> 9J U5IJEJ 9J 6p U J6 4PK@/ 9v\ ;6 7 TK/= 9J ;6
7K=;JV. K6"q/ BE U< BJV/ UA!JV6 ;q=/ ?rK; "V.= 7V{ v2Jv]p BJK6= 9J
v2Kvb = B EJ= AljJ96J 3JV /JBJ B V> U J6 ;q V{ BJ <JBJV/ 'K;V/ 6J
7JV= 9G ?rK;V = 7?nJVA= AJV3 ?=LV= 7V9? K=V/ 6J 7JV= BJ= J<q =
9p9v]J "B. K=V/ B V9 9G
VV?p <K4 U J6 K6"q;6 <e7JK/= 7VEJ'6
BE /JBJ B V> BJ y 5P>J 9JK> U5IJEJ 9J 6p 4PK@/ 9v\= FVA= </4P= Alj9
J&J JK& v]JV6 v]J76 K=V/ B V9 9G
v]J6 </4P= Alj9 K#K=EJ =JK!V/
B V9O
U J6 7K/JV6 U J6 eb4qB K6 %J>JV6J <J V9 6J <K4 6J BJ=
9JuJK4 K6"q;6 73 6mMy 9J/JVA= K4V BE 9G U J6 eb4qB
K6 U J6 ;q V{ %J>JV6J <J V9 6J <K4 6J ?rK; "V.= v2JVv]p=
7V{ {K/ = B V/ 7JV= BJ B V/ K6"q/ ;6 U5IJEJ ';J 6J
B EJ= '6p J<q = 9p9v]J "B. =J BEO
O ,<7? 1< 1 $<*.<m<Aoo

7V/p 7K/JV6= 7K/K* ;q
V{ K6;q> 9JEM 79JVB= '6p 7<qJ 9JEM %>J%> 9p9v]J =JK!V/ B V9O
y=R7 7V/p V{ ;6 /J7;JJ 9'JE =JK!9J= 7<My 9p9v]J
=JK!V/ B V9 <JBJV/ UA!JV6 ;q=/ ?rK; ". U;J*J;MK* J=JV;
J' K=V/ 7JV=6 9G <JBJV/ ?rK; "V.= v2Jv]p BJK6 U=J5 BEO
7 5J=J
= 7VEJ'V6 V{= U4 EJ> 9G &J4 ;6:JV9
W/=L K=V/ B V9 <JBJV/ y /J7;JJ 9SK 6J 7JE 9G </4P=
Alj9 ; 3JV O
U< U{V U J6 7K/JV6= JV'= 7 TK/ ;6 BE U< BJV/
57
O , YX *'<&Y *4<0#Aoo 7V/p 7K/J6V

BJ= F7J46 7KzEJ=
J=V. AS U J6 9'qp 74J3q 7AJ=. =J= '6p <3J<3 9p9v]J "B. K=V/ B V9O
O E=m. <'ZY 0#Aoo
<K4 U J6 7K/JV6 9J/JVA= J4rq/J TK;
7JVE 9SK =J BE /JBJ B V> UA VV?p 9p9/ 7JK6 A= J=L 7JK6 A=9=JB
9p9v]J B V/ 39J 6p U J6 7J6LE 'V>= FA B V/ AG"B K=V/ B V9 39J
BJ 9p9BJV== 7PV9q 7<My:JV9 U?J56 K=V/ B V9O
29
58
<K4 U J6 7K=4?qV = K6 * BJ 7/LE;J6 BE U< y VV?p

9p9/ U J6 7JK6 7 5J=J
= K95J6 6M<JEL J<q =:JV9
U?J56 =J BE 6J /JBJ B V> K/K6 ;JK> V K>K!/ JV4? K4EJ
JV4V? K>K!/ A;VE= ;V5p BJV/ K>K!/ 9p9v]J "B. =J=
K6V4q? K4V/ 7JK=V96O
O *<) 0<0 *<=)Aoo 7V/p 7K/JV6 BJV/ ;q=/ A > ?rK;V =

7J6 =J= '6p BJ= U J6 AMK95J'6 v]JV6 7<qJ K9 7JK6 A=9=JVB= 9p9v]J
K=V/ B V9O
7V/p 7JK6 A=9=JVB= v]J6V 9JG>JE 7J6 =J= 7JK6 3J}K>
v:JV9 K>K!EJ K4EJ K%K/ K=V/ B V9O
U< A;vb 7K/JV6 AJ5J=./H 4M ?/ 7J? '6 9J /V/JK5 ?rK;
K6<My 3JV 6 UA A > 7K/JV6 "Luo JV> 7J6 =J= 7JK6 +JJ
K=EJ A=9=JB =J= 9p9v]J K=V/ B V9O
;JJK/K=y /J7 V4r J=L <Ve= AK6g V* J' =J= J=V.
?rK;V = ?=LV= 7JK6 ?P6p/J= ASK B V>
A > ?rK;V = '6p
=J> K=BJ V,r?6 U3=JK7= 9p9v]J K=V/ B V9O
O =$=0^ ->6Aoo
U J6 7K/JV6= U J6 ;q V{ BJV/ ;q=/
?rK; "V.= v2Jv]p BJK6 BE
7 J= K/K=y :LC =J <J V9 6JO
7K= y K95JV6= BJK6 6J K=EJ 7V/p ;q V{ ;q=/ 7V/p
?rK;V = '6p eb/H
K K9 K;*J= 7K=;J. 'JE"J= 9p9v]J
K=V/ B V9O
,X< X< :
7 5J=J= 7VEJ'V6 U J6 #V== _%/J U;V( B V/
K;*JV==
K5 B V> BJ K9V9%6JE J6J B V9 6JO
<K4 75J6 7K=4?q K>K!/ JV4? J=J U J6 ;JK> V
6MV=J5
V=6 /JBJ B V> U J6 7K/JV6= 7V/p
;q V{
5J=J=
K95J6 6M<JEL AV9qJ_% /'6 U>J
J' K=V/ 7JK=V96
/FAlV q /JBJV
K* U6JK*? >* J EJ K4V/ B V9O
75J6 7K=4?q K>K!/ JV4? J=J U J6 7K/JV6= ;q {V
5J=J= K95J6 B V/ U=BJ K4V/ 7JK=V96 <K4 K/K6
;V;q Ae\
B6 U< BJV/ ;q=/ ?rK; "V.= v2JVv]p= 7VEJ'V6
K95J6
;J6J= 7VEJ'6 6J O
O *<7 <)< F*2<, <)<Aoo 7V/p 7K/JV6

BJV/ ;q=/ ?rK; ". JV'= A;VE <JBJV/ ABV' 9p9BJ= K=V/
7JV=6 =R7 AMK95J'6 v]JV6 K9K5 J=J K65qJK=/ 7 JV= 7VEJ'6LE AG!p
7JE!J6J U7?J9 !J6J= 9p9v]J K=V/ B V9
! y 7JE!J6J U7?J9 !J6J 7M=^@ 9G ;KB>J ?rK; "V.= '6p
v2/e:JV9 9p9v]J K=V/ B V9
" 7JE!J6J U7?J9 !J6J}K>V/ <V3 JV>J 9J/JA 9G AJ9q{K.
7JK6= 9p9v]J =JK!V/ B V9 9G
# y 7JE!J6J U7?J9 !J6J 'L9J6M6J?
7K=uZJ= 9p9BJV==
;J5pV; A9 A;E 7K=uZJ= v2Jv]p Alo/ =JK!V/ B V9O
O <G1<0 ,X,\L<Aoo U J6 7K/JV6= 7V/p GV? U<!JV6 ?rK; ".

J' V=6 9J <J/JEJ/ V=6 <V3 v2J:JK9 9J TK; 9J :EK95 JV>J= 9p9v]J
K=V/ B V9O
7V/p 7K/JV6= ;q { JV>JK / =J= '6p 9p9/ A >
IJV%= 'J6J>J 9G &JV4 9AJV6J 'J6J>JA;PVB= :E 7J?nq 7K=uZJ=
=JK!V/ B V9 9G </4P= Alj9 7K/9 /J ;My =JK!V/ B V9O
7V/p 7K/JV6
U J6 v2_& 74J3q 9J 9JK/ B V/ K9_&MK=/ 9J 7K/8K>/
JV>J _&*J 39J
! U J6 ?rK;V = U%JV!= 7= %J7 7KCV/ 7JV= 9J /JBJ=
4M#q*6J= (IMK 3JK V/ 7JV= =R7 U J6 &JEJ ASK 7K/V=J5
K=9J= '6p J<q = 9p9v]J 3JK V/ B V9O
59
O <, Y)< ,<a =* '<)>Aoo

7V/p 7K/JV6= AMK95J'6 v]JV6
<V3 AG!p
J9'q6J U8>J= 9J| K7 4J6L= 9p9v]J 3JK V/ B V9 9G
}K>V 7K=uZJ= v2Jv]p Alo/ 9v]JE =JK!V/ B V9O
U J6 7K/JV6= JK6J= ;V5p U J6 9pKy 6M=R7 9J| K7 4J6L
9p/L/ 6p U J3J ;E>J J9'q6J K G9J 3M3M U8K>V/ 7JK=V96 6JO
K95J6 9G BJ >G#6 ?JKvbV<J"p 7=J5 BJ V>! K=EJ
7V/p 7K/JV6= K9K:6g 7<My v]JV6 =R7:JV9 U6JK*? >* J EJ
K4V/ B V9 <JBJV/ BJ ABV' A V>= 4SKV"J%= BEO
30
60
3| (X<7
7V/p 7K/JV6 AJ5J=. 9KB"q;V.= '6p 9p9/ 73 9p/L/

K"g J JV> 9KB"q;V6= '6p 9p9BJ= =J <J V9 =R7 7V/p
'J6J>J 4='J 9J 6p U J6 9KB"q;6 73 v:JV9 >J> =G J=J
9JG>J {V= 39J 6p U J6 AB'V9J5p 7 JV= K%K/ K=V/
B V9O
7V/p 7K/JV6 BJV/ ;q=/ 7V/p ?rK; V
K"g JV= 9J
K97V4= A;E /FAlV q K?EJ= =J= '6p v:JV9 ?r9.V<J"p
K?EJ=L AGV V/= 9p9v]J 3JK V/ B V9O
7K/JV6= 7V/p V{ ;q=/ ?rK; "V.= K"g JV= A;E K9K:6g
9KB"q;6 7V3 U7IY&J= ABJE
K* 9J5 7V3= 9p9v]J =JK!V/
B V9O
U< 7K/JV6 BJ= 6L% />J= 7V= U J6 'JE"JE AJ5J=.:JV9
4?'6 9J /V/JK5 ?rK;
;q=/ 3JV 6 39J K9VJ= 9J
K/4JBp 74J3q 9p9/ BE 39J }4J;'J/ =J BE UA 7K/JV6
K"g J JV> 9KB"q;V6= 7JE AlV q A > ?rK;V =J <JBJV/
AM7K=K%/ 3JV 6 9G y A;VE /JBJV4= K K
=.LE B V9
/FAlV q /JBJ=J <JBJV/ 7K=7P.q 7K?{. >J: K=V/ 7JV=6 UA
K9@VE J<q = 9p9v]J "B. K=V/ B V9O
7J? 9J //K5 ?rK; ;q%J=L Al2K>/ J=!J6J 7K/JV6 7K/
9FA= eb/H
9J= K"gK69qJ76 ;BCJ= JVEJ'6 K=V/ B V9
9G
K9@VE ;JK>
/Tq K65qJK=/ 7e]JE
K* U= ,q 9M
AG={. K=V/ B V9O
=)0<*k<
O -,) /Pe*<=$0 =)0<*k<Aoo
<K4 U J6 7K=4?qV = K6 * BJ
7/LE;J6 BE U K/K6 ;JK>V = K6 * K>K!/ JV4? 'J=L K=EJ
BJV/ K>K!/ K6K4q A;VE= ;V5p /JBJ= ;V/ K K 9p9v]J "B. =J
7VEJ'6 BJ "B. K=9J= K6V4q? K4V/ 7JK=V96O
<K4 U J6 7K=4?qV = K6 * BJ 7/LE;J6 BE U K/K6 ;JK>V = 7= K>K!/ JV4? 'J=L K=EJ BJ
<3J<3:JV9 U;=J;/ 9J 7K=9/q6 6J =J 7<qeb BJ= 9p9BJ= K6K@
K=V/ 7JK=V96O
O = R <j 4UG Y 4$ Y$< ,1U%)Aoo
7V/p 7K/JV6 K9K5 J=J
K65qJK=/ :JV9 K"g JV= A;E 7V/p />J= AJV3 AGV<J" ={J J=L eb/H K*
K9 KAIKCAB 9KB"q;V6= 7JE 9G K"gK69qJ7 A=JV;= 9p9v]J K=V/ B V9O
<K4 U J6 7K=4?qV = K6 * BJ 7/LE;J6 BE U< 7 5J=J
K>K!/ K9K5 6M<JEL 9KB"q;V6= 9p9v]J =J BE 6J /JBJ B V>
K/K6 ;JK>V = 7= K>K!/ JV4? 'J=L K=EJ BJV/ K>K!/
A;VE= ;V5p /JBJ= ;V/ K K 9p9v]J "B. =J 7VEJ'6 /JBJ
/JBJV 9KB/ K=V96O
7V/p 7K/JV6 U J6 { B V/ 9KB"q;V6= 73 /J>J9 9J
J* J EJ =J!J <J V9 6J <JBJV/ U J6 9pKy V{= K:/V= ;q=/
3JK V> BJ /F{.JF K:/= B V/ ABV' U!J>J <JE 9G
7 J=
A > 4='J <K4 6J }K> vJ K,G *J V7= BE ;6:JV9 X/=L
K=V/ B V9 U<6 BJ 9JKBV== K4V U!J>J <JE 39J <K4 U J6
4='J 4M K* V{= ;J(!JV6 BE /JBJ B V> BJ :9V6= K6 */;
9KB"q;6 7V3= J&J JK& K4V U!J>J <JE 9G
7 J= U J6
4='J V{ J' %>J J>L6 A;VE /J>J9 9J 9J5J "v] 9v]JE =J!J
<J V9 6JO
61
31
O /Pe*<=$ = =07< 0< <Aoo 7V/p 7K/JV6 BJ= K6;gK>K!/ <e7JK/

"K/ Al6g 9J 9p9BJV= 3J J= A;E 7<qJ K6;qJ. 9p9v]J J=J ;'9M/:JV9 K#K=EJ
=JK!V/ B V9 <3JH
U J6 7J ; U;J:J= <Ve= 7V/p #P.qJE;J6 G? 9G BJ= AKB/
AG<My 7V/p 8tJ >
! 7K/K* EJ*J= > 9G EJ*J= *J=9J V6= :E ;M!
" U>4 U;K?V6= ;M! K/z; J=L 7K/K* 9JV== G? 9G
# <K4 6J K6;gK>K!/ <e7JK/}K> ;6 9v]JE 3JV 9J ;6 :JV9
K6K;q/ BE U<
}K> ;'9M/:JV9 U#=J 3JK V> 7K/JV6 ;q=/
7V/p ?rK;V = '6p U<=R7 K6=J74 B / UA=R7 K6=J74 JV&oo
W94MpK/ U'6JV=*= U;J*= 9J U=J*J=L 6:J*qJV== 7V/p K*
62
G?
*rJK;?6 <e7JK/= 7V/p K* G?
U/ U J6
<e7JK/ 7=L{J 9J %J>M K=EJ U4!J= #*6JK* 5/qV9p J6J B V9 6JO
<e7JK/ K#K=EJ =J!J AlV q
J V6= 6p U J6 K95JV6= BJK6
6J K=EJ #P.qJE;J6 7V/p U?8* Kv6,> > 39J K7K6E6 =
7V/p UA* v[M U9J 9G %JK9 9G %J>M A > vJ= EJ;q 9G
6pJ6p 4IJ/ EJ>J 9J K8s ?6 K"EJK=G <JBJ= AGvV?q U J6 ?rK;
JKAV/ 9J5p y=R7 AGvV?q JAJ (MIK ;My =J= '6p K>K!/
> J ;'9M/:JV9 K#K=EJ =JK!V/ B V9O
! <!6 U J6 ,rJ K:G U9 9p9BJV= 3JK V9 6J /!6 BJ U J6 %>eb

U?8V*= 7= =J!J <J V9 6JO
7V/p 7K/JV6 7V/p
;q V{ %>;J6 <e7JK/ B V/ '=^=L
9v]JE ?Ky K9K_&6g K=9J= '6p 7<My 9p9v]J 3JK V/ B V9O
O \%79=_7 /Pe*<=$Aoo U J6 7K/JV6= U J6 v2EGKzE <e7JK/= U J6
%>;J6 G? 9G BJV/ 9JKB/ U J6 4r9p <JBJ= 7= K4EJ %>J%> V= BJ <K4
;6 U J6 v]J6 BE <JBJ= 7= K4EJ U J6 9pKyV /q9p AlJ46 9J 6p U J6
J=V. %>J%> K=V/ BE /JBJ B V> y <e7JK/= G? 6VB ;6 U J6 Kv]=
J+JV;J B V/
UAH K;H = ;V5p BJV 9KB;Mq!L 39J eb;Mq!L %>J%> K=V/
U4 EJ <J V9 6J H
/V9 ?/q 3JV U<
J 6 9>9F B 9J= 7PV9q
5J=J= 9pK/z; :JV9
v]JK7/ U J6 <e7JK/V 75J6 7K=4?q /F /qS K65qJK=/ BJ= K6=J7J Al2V
9p9v]J "BV.= ?V/q BJ= 9p9BJ= 9pJB/ =JK!V/ 6M;K/ K4V/ 7JK=V96O
O 1.<) /Pe*<=$0 *G0 ,< =) G < Aoo U< U{V U J6 7K/JV6

5J=J
= 5L6 %>;J6 U J6 <e7JK/= U J6 G? 7=L{J= 7VEJ'6 BE 39J
y=R7 7=L{J= 8V> %>;J6 <e7JK/= U9 %CJV6J 9G 6J;JV6J W/>Jy =.
39J AMK96pvb =V.= U J6 J' K=V/ BE UAV{V y=R7 7=L{J 9J %J>6J
/49pJ7JV= K9V?@:JV9 7K?{.7J U J6 7M=^@ ?rK; J=J 7K=%JK>/ B V/
B V9 9G y ?rK; V
A;VE JV*J AJV*J U7J@J 7K=V/ B V9 9G /JBJ=
6J; /4 VV?p K65qJK=/ U=K'JV= K>K79 3JK V/ B V9 9G <!6 y
?rK;
7 J= JV' K6<My 3JK V96 UA A;E K/K6 U J6 #P.qJE;J6 7MK>V/
AG<My U9 6JCJ%JCJ K=V96 6J <K4 6J U9K* 7Vv]
UAH K;H = 6LV% BE
9G BJ= U'JCJ A;/> K8/J K4VE J* JV6J 3JV O
A= J= A= J=L U"V'V* 7J76 J=J U J6 K6K4q 7K/JV6= U J6
<e7JK/= #P.qJE;J6 U J6 K6K4q GV?= 7K=uZJ= =. W/>Jy =.
AMK96pvb =. K6K@ K=V/ 7JK=V9O
O )$@) /Pe*<=$ <,D$ 0<Aoo

J 6 9>9F B 9J= 7= U J6 7K/JV6
v]JK7/ ?Ky %JK>/ 7V/p K* <e7JK/=
UA* v[N U9 39J %JK9 39J U J6 #P.Eq ;J6 U?8* Kv> >
39J K7K6E6 ;6:JV9 U7JK3/ J9S/ 39J 6p U J6 J<q =
K6=J7J;P> 9p9v]J K=V/ B V9 <JBJV/ K974 K6V=J5 =J <JE
! A > vJ= EJ;q 9G 6pJ6p 4IJ/ K9K? K"EJ= 9p9v]J <JBJ %>eb
9v]JE #6 #6 K96pvb =J= 7VEJ'6 BE 6J AlP.q:JV9 J9S/
K=EJ =JK!V/ B V9 <K4 6J BJ ;6:JV9 9Kv]/ BE U< BJ
J9S/ 3JK V> U<=R7 K6=J74 B / UA=R7 K6=J74 3JV O
O F_) ,9 )X<)X Gk<1) /Pe*<=$Aoo U J6 7K/JV6 BVE 9G
K>8* 9p/L/ A > Uz6 9G 6pJ6p VJ>6 <e7JK/ AlV q K6;gK>K!/
K95J6}K> 7V<J'p B V9 <3JH
Kv]= 39J %>;J6 EJK qG K"EJ= =M K? > 9G U6J= 9J 96
AlK q/ <e7JK/AB BJ= 7V/p G?
7<qJ ?Ky?J>L ;'9M/ 74J3q K4EJ ;=RV7 W/=L B V/
B V9
<3J<3:JV9 ={.JV9{. K=V/ B V9
7K/ 9JV=J ;JVA eb/H
9J=
'6 7<My 9pKy J=J
O ~ZZ< = 9 = 7<0 ,9 2=^ 40,0<5 =,=N )R 0<0 *PL<Aoo

7V/p
7K/JV6
7<My rJ K G K"EJ= 9G 6pJ6p J<q = <JKe A=J; AG={.
=J B V9 <JBJ *rJK;?6 <Ve= eb:Mqy 4r^/ 9G ?3 7MK>V/ 9J
7MK> B V/ ,rJ K:G U9V %J>JV6J= '6p 9p9/ B V9 9G
y=R7 K"EJ= 9J > J ;6:JV9 7v\/ v]J76 AG={. K=V/
B V9 U<6 y U9V= 73; 7MK>V/ zMK7G U9 K6V=J5 =J <JE
63
32
64
AlP.q:JV9 7=LK{/ B V/ B V9 9G y=R7 7V/p 7=L{J

AGzJeb K9K5 J=J K65qJK=/ K9@EJK4 K>K79 K=9J= '6p K*
U=K'J= 3JK V/ B V9
! y=R7 <e7JK/ J=J BJV/ K>K!/ 9B6 {;/J= K/K=y U J6
U9J(J 9B6 =J <J V9 6J
" Uz6 J=J J#J/7J B EJ= J?G J JV& =R7 U J6 v]JV6 U J6
%>;J6 UzV6= > U*rV U J6 9pKy J' =J J>L6 A;VE <JBJV/
Uz6K* y v]JV6= &E K;*JV== ;V5p U7IY&J V/ 6J 7JV= /JBJ=
J<q =L 9p9v]J "B. K=V/ B V9O
O 5G7~ ,9 =1+ Aoo 7V/p 7K/JV6 7V/p BVE 9G K>8*
7<qJ ?Ky?J>L ;'9M/ 74J3q K4EJ ;=RV7 W/=L B V/ B V9
! <3J<3:JV9 ={.JV9{. K=V/ B V9
" 7K/ &E ;JVA eb/H 9J= '6 7<My 9pKy J=J AlP.q:JV9
7=LK{/ B V/ B V9 9G y=R7 7V/p 7=L{J AGzJeb K9K5
J=J K65qJK=/ K9@EJK4 K>K79 K=9J= '6p
K* U=K'J=
3JK V/ B V9O
7V/p 7K/JV6 7V/p BVE K>8V*= %>J%> 73 4='J AG<My
K#=J J=J :J>:JV9 AG=K{/ 3JK V9 BVE 39J K>8* 9G
y=R7 K#=J ;6:JV9 W/=L K=V/ B V9 U<6 U J6 9pKy 9J 9v\
y BVE 39J K>8V*= U J6 GV? 9G U J6 Kv]= J+JV;J 9J
%>;J6 GV?= ;J(!JV6 J* J EJ 6J <JEO
7V/p 7K/JV6 7V/p BVE 9G K>8V*= "JVE BJ= K6=J74
9B6 {;/J 7K=uZJ=:JV9 K>K!EJ =JK!V/ B V9 9G
5J=.
{;/J= K/K=y U J6 U9J(J 9B6 =J <J V9 6JO
7V/p 7K/JV6 ;J6M@ 9B6 J=L 7V/p BVE K>8V*= !IJ%J=
:E 7JV?nq +J 6J;J =J= '6p 7V9? 73 3JK V9O 7V/p BVE
K>8V*= AV9Jq_% 5J=. {;/J 9JG>JE v {V= K>K!EJ =JK!V/
B V9O
7 5J=J
9G
K>K!/ 7V/p 4='JE ;6:JV9
f*J=>
39J 6p U J6 J<q = 9p9v]J 3JK V9 <JBJV/ BJ
K6K/ =J <JE U< <!6 BJ 9/=. 6J V= /!6 U<6 U!J>J 6J
<JE 9G 4='J 9 6J =J 7<qeb !IJ%JK* <JBJV/ %>;J6 6J BEO
J 6 79/qV6= 7= v]JK7/ 39J 7P6HK6K;q/ U J6 7K/JV6=
65
7V/p K* BVE 39J K>8V*= U{V K6;g9K.q/ K/K=y 9p9v]J9>L

7V<J'p B V9 <3JH
U< U{V !IJ%J =K? 9J K? V>= 7= K6:q=?L> UA U{V
;7V{ 4M K* =K? 9J K? > 7S3 :JV9 !IJ%J= AV AG<My
3JK V9 9G BJ= :J=AJ;p ={J K=V9 9G 7V/p =K?
K? > ;6 B V/ B V9 U<6 BJ AV9qJ_% :J=AB !IJ%JK* 9B6
K=V/ 7JV=
! =K? 9G K? > K&KCEJ <J EJ= U{V AV9qJ_% :J=AB !IJ%JK*
U<6 (N>J EJ =J!J <JE BJ= J<q =L 9p9v]J "B. K=V/
B V9
" !IJ%J= K/K=y "K/ K6Ee. =J= '6p <3J<3 v2EGKzE
9p9v]J 3JK V/ B V9O
J 6 9>9F B 9J= 7PV9q 7 5J=J
= 9pK/z;:JV9 U J6 7K/JV6 v]JK7/ U J6 BVE 9J K>8* U
75J6 7K=4?q /F /qS K65qJK=/ BJ= K6=J7J Al2V 9p9v]J
"BV.= ?V/q BJ= 9p9BJ= 9pJB/ =JK!V/ 6M;K/ K4V/ 7JK=V96O
O B#Y7.<) /Pe*<=$Aoo U J6 7K/JV6 "J KG 7KzEJ 7K=%JK>/ BE
= ; 7V/p
V{ 9p9/ 7V/p <Ve= "JVE 39J BJ= K6 V* v]JEL:JV9
K6;gK>K!/ K9@E 9.q6J K=EJ K* U6JK*? >* J EJ 9J AJK*EJ K4V/ B V9 <3JH
7V/p "J UJ6 39J V9rJKA: V>= AV9qJ_% K6=J74
"K/AL;J
! U< U?8* 39J Kv> = 7= %J JK* v]JK7/ BJ= "K/
" K6=J74 "K/ K6K/ =J= '6p 7VEJ'6LE y=R7 U?8* 9J
KvV>= 7= v]JK7/ 7MK>= 7K=AL;JO
y U6JK*V? K>K!/ "K/ K/z; =J <J V9 6JO
7V/p "K/?L> J5J= !IJ%J (NKC 8tJ > 7MK> K,vZ 39J
?Ky J=J %JK>/ 6M=R7 <e7JK/ /JBJV4= K65qJK=/ "K/ <JBJV/
K/z; 6J K=V/ 7JV= BJ= '6p J<q = 9p9v]J "B. K=V/
B V9O
O F*r4<0 *X<Q AooU< U{V U J6 7K/JV6= F7J46 7KzEJE K6VEJK'/
U J6 7pJf* 9J <e7JK/= U J6 G? v2J:JK9 9JEM %J7 V7{J K5 %JV7
7K=%JK>/ BE UA U{V U<6 BJ BJ= K6=J74 %J7 K/z; 6J V= /6p
33
66
7VEJ'6LE 9p9v]J "B. K=V/ B V9O
=J= '6p K6V4q? K4V/ 7JK=V96 <3JH

y :96 =JvbJ <e7JK/ 9J 7pJf* K6=J74:JV9 9p9BJ= =J <JE
K 6J BJ K65qJ=V.= '6p 7VEJ'6LE 6 ?J 9G 6pJ6p /3p 9J
K99=. A=9=JB =J
! U J6 K6K4q GV?= ;J6 9J ?Ky K65qJ=V.= '6p 7VEJ'6LE 7=L{J
7K=%J>6J =J 9G BJ= 8>J8> 7K=4?q V 9KB/ =JO
O F.G
=4;=6 ,9 /<$<7<$ *&Aoo 7V/p 7K/JV6

A > U;V( KAIKC %>J%> 73 ;'9M/:JV9 K6;qJ. K=V/ 9G
<3J<3:JV9 AG={. K=V/ B V9 9G 7VEJ'6 B V> BJV4=
K6=J7J K6K/ =J= '6p ;'9M/ U=K>G = 9p9v]J K=V/ B V9
! U< v]JV6 U J6 A;VE U J6 9pKyV
J' K=V/ BE UA v]JV6
<J/JEJV/= '6p <MKy AG"/:JV9 </4P= Alj9 K6=J74 <J/JEJV/=
9p9v]J K=V/ B V9 9G
"
;qvBV>= A > U8tJ= %>J%V>= 73 KAIKC 7K=_&6g 7?vb
9J5J9 BL6 B V/ B V9O
O =* 4<U 4?6c .? $X<='Aoo U< U{V U J6 7K/JV6= U J6 Kv]=

IJ5J= P7 "/q 39J AMC 73 ;6 BE U< BJ= ":L=/J 9v]J6 K6;qJ.
39J :peb=Lv] 9v\= J=V. BJ K97V4= J=. B V/ 7JV= UA U{V BJV
;'9M/:JV9 K6=J74 U#=J 39J -J 6J K4EJ =JK!V/ B V9O
O =$=0^
)Aoo U J6 7K/JV6 U J6 ?rK; V /JBJ= {K/ B V/
7JV= ;6 U J6 :J=L K'K6A VJ>6 9B6 39J 6JCJ%JCJ K=V/ U4 EJ <J V9
6JO
O F <G 0 =)0<*k<Aoo F7J46 7KzEJ 7K=%JK>/ BE =R7 U J6
7K/JV6= U{V A= J= K9K5 J=J
K6V4q? K4V/ 7JK=V9 U< y=R7 U J6
7KzEJE <K4 K6;g9K.q/ U J6 J?G J 3JV /JBJ B V> y 7KzEJE K6VEJK'/
7V/p ?rK;V = U%JV!= K6=J7J K95JV6= '6p 7<My %?;J 9J U%J!J9=V.= 9p9v]J
K=V/ B V9 <3JH
7KzEJ= J=V. FK{ 9J K9_&MK=/ .J 9J *N =J B V/ U%JV!=
K97V4= J?G J
! K/;JJE JV>J 9J JV7= J=V. U%JV!= {K/= J?G JO
O mM= *B#Y /Pe<92 =)#Y7 &,< 5<0 \L<=7$S *0>`<0 `.$<Aoo <K4 U J6
7K=4?qV = K6 * BJ 7/LE;J6 BE U K/K6 7K/JV6= ;JK>V =
7= K>K!/ JV4? 'J=L K=EJ BJV/ K>K!/ A;VE= ;V5p K6;gK>K!/ J'
67
34
O =,*d) F(;<7<0 =,0MGs 4$ Y$<.B1 ,X,\L<Aoo

U J6 7K/JV6=
U J6 { IJ5J= U%Y9J_%J "/q 7J 7 5P;73 39J 6pJ6p AL;J9 v]JV6
U<!JV6 K976 U5IJEJ
7K=;JV. 3J J= AljJ96J JV& <JBJ J=J U J6 9pKy=
JzJeb B EJ= (IMK 3JK EJ <JE U J6 9pKy 7V9? K=V/ 7JK=V96 6J 9J /JBJV
7V9V?= 6M;K/ U4 EJ B V9 6J <K4 6J UA!JV6 K9K5 J=J K65qJK=/ 7K=;JV7=
U J6 ;pJ6VBJ> 39J 9JKB= B 9J= J<q = 9p9v]J 3JV O
7 5J=J
K>K!/ U J6 AL;J9 v]JV6
U:JV= K5
U:JV' <My U J6 9B6V<J"p W94MpK/ 9JK/ BJ= :pebV= 9p9BJ=
=J= 6M;K/ U4 EJ <J V9 6J 9G U< U{V U J6 U5IJEJ 4JBp
B EJ= AljJ96J 3JV UA U{V 4JBp K6V=J5 9v\ J=J K6K;q/ 9JK/
&JCJ 6p U J6 9JK/ y v]JV6 9p9BJ= =J= '6p 6M;K/ U4 EJ
<J V9 6JO
U J6 7K/JV6= y=R7 U J6 AL;J9 v]JV6 U J6 9pKy 7V9?
K=V96 6J 9J 7V9? K=9J= 6M;K/ U4 EJ <J V9 6J <K4 6J BJ
B V/ U5IJEJ K6uZJ?6 9G 7V9? 7K/V=J5 9p9v]J =J= '6p AljJ9p
A > 7e]J "B. =J BE 9G <K4 6J K6;gK>K!/ U< U J6
K*
9p9v]J "B. =J BE
U J6 7<My 9pKy /Sq 7=L{JVeb
;V;q 7/pE6 7 74J6 =J
BE U< v]J6K* K976 U5IJEJ B V/ ;My 9G BJ 7V9V?= '6p
7<My 39J
! AGK? ?rK;
K* 7<My ?nJA 7?nJA <e 9p9BJ= K=V/V&6
9G /JBJ= U J;= 9V= AV ;6
K* =M 9J5J JV& <JBJ=
U!J>J 7Jeb y v]JV6= 9JKBV= 9v]J6=/ U J6 9pKy= BJV/ JV&O
7V/p 7K/JV6 7<My ?nJA 7?nJA <e AJ6 =J= <e
U J;=9 9G =M /JF{K. 9p9BJV== '6p y=R7 v]JV6=
K6 V* ; 'M4 =JK!V/ B V9 9G y=R7 A=J; U J6 7<My
9pKy /qS A;E A;E 7=LK{/ B V/ B V9 9G BJ 9p9BJV==
68
U<J"p
;V;q /F /qS 7/pKE/ B V/ B V9 9G 7V/p
7K/JV6 ;q=/ <V3 AG!p 9pKyV y=R7 A=J; 9p9BJ= 9G
?nJA 7?nJA 79JB =J= 7e]J AlV q 7K?{. 74JV6= 9p9v]J K=V/
B V9O
U J6 7K/JV6 U J6 9pKyV 9E>J= 9E>JV== %NK> 5P;73
IJ5J= U%Y9J_%J 7J 7 39J U J6 AL;J9 v]JV6 BJV/ J' =J=
'6p 39J BJV/ U J6 7=L{J 7K=%J>6J= '6p 7rV9? K=9J=
6M;K/ 74J6 =J <J V9 6J </{. 7<qeb 6J BJ 9JEM 79JVB= J=J
<V3 +JJ =J B EJV& 39J 6p U J6:JV9 ;J6MV@= 7V9V?= '6p
7<My =J B EJV&O
O =,G}<0 ,< '<5X X<4 (?1< $X<='Aoo
U< U{V U J6 7K/JV6
U J6 F7J46 7KzEJ= J=V. K/ "pJA U5IJEJ 9Ju 9J 5M>J ;6 7 TK/= 9J
;6 7K=;JV.= BE U< BJ K9VJK=/ 9J 7K>/ B 9J= AljJ96J 3JV UA U{V
y=R7 K9VJ=. 9 =J= '6p K6;gK>K!/ 7e]JE AljJ9p A9q7 J= 9p9v]J "B.
K=V/ B V9 <3JH
7pJf* 9J <e7JK/ 9p9BJV== A;E BJ J<q = :JV9 K#K=EJ =JK!EJ
! y=R7 5M>J "pJA U5IJEJ 9J 9Ju K6uZJ?6 9J BJ= AE K6V=J5
K=EJ
" 4B6LE B 9J= AljJ9p A > FA J<q =:JV9 K#K=EJ =JK!EJO
U< U{V U J6 7K/JV6 U J6 7KzEJE 9p9/ U J6 7pJf* 9J
<e7JK/ ;6:JV9 K6;qJ. =J BE 6J <JBJV/ BJ y=R7
K9VJ=V.= U{V F76g AljJ9p %J7 ABp K=V/ 7JV= UAV{V y
7pJf* 9J <e7JK/V/ U%J U98>A U:f*A 9J 6p U J6 J<q =
<e7JK/ 9p9v]J K=EJ y K9VJ=V.= K9vbJ= 9J 7:J9 U=J5 =J=
'6p AljJ9p A > 9p9v]J "B. K=V/ B V9O
U< U{V U J6 7K/JV6= U J6 7pJf* 9J <e7JK/= U J6 G?
U J6 K9VJ= 9J 4JBp "pJA 9J 9Ju v2J:JK9 9JEM %J7 V7{J
K5 %JV7 3JV UAV{V y G? K6;gK>K!/ 7e]J 9p/L/ U!J>J
<J V9 6J <3JH
y U J6 GV?= -J 6J= ;MV!= AV AG<My U J6 7J V7= AGV<J"
!MK>EJ U4 EJ= 7PV9q y GV? U J6 "pJA 9J 9Ju 7V9? 39J
y=R7 7J 7 7 9J>9 J=J 9J 6p U J6 7e]JE 9 K=V/
B V9
79
y=R7 U J6 96 7AJ=. K=9J= 7PV9q y GV?= 39J

7J V7= "pJA 9J 9JVu= %J7 v2J:JK9 9JEM %JV7 ;J EJ J6J=
'6p AljJ9p A > 9p9v]J "B. K=V/ B V9
" U< U{V y=R7 U J6 96 ?3 9J 7AJ=. =J B EJV& UA
U{V U J6 K9VJ= 9J 4JBp "pJA 39J 9Ju y GV? 39J
7J V7 96 ?y K=EJ 9J5J 6J B EJ 7<qeb 9G K6=J74:JV9
7K/v]JK7/ 6J B EJ 7<qeb 7V9? K6V=J5 K=9J= '6p A9q 7 J=
J<q = 9p9v]J "B. K=V/ B V9H
/V9 ?/q 3JV U< U< U{V U J6 7pJf* 9J <e7JK/ U!J>J ;JV+
v]JK7/ BE UAV{V
7 5J=J= K95J6 7V<J'p B V9 6JO
U< U{V U J6 7K/JV6 U J6 7pJf* IJ5J= 9J U%Y9J_%JV/ U J6
K9VJ= 9J 4JBp 74J3q 3JV 9J U J6 A;E K&> UA U{V BJV/
/J7 9p9BJ= K=EJ U J6=R7 (J>J 9J J*J= J' =J <J V9 6J
<K4 6J y 9v\ 9J U5IJEJ 7AJ=. 39J 4JBp 9J K9VJ=
9v]JE =R7Jeb= =J= '6p 73V; <3J<3 9p9v]J "B. =J BE 9G
y=R7 U J6 74J3q y 7pJf* IJ5J= 9J U%Y9J_%JE y=R7 U J6
J' =J= 7= 7V9? K=V/ U4 EJ <J V9 6J </{. 7<qeb 6J
AGK? 5J/N y 9v\V 4JBp =J= K974 U=J5 =J= ;/ <V3 +JJ
BEO
35
70
4x. (X<7
\%<\LX \%<\LX =,=(
O =$*7 ,X<=( 4UG Y F)<= 2Aoo

U< U{V K/LE /8KAV>
K>K!/ 9pJK5 J=J U J6 7K/JV6 U J6 ?rK;
JzJeb B6 UA U{V ;JK>
39J AGK? ?rK; 39J /F /qS K6K4q U J6 9pKy K9K5 J=J K65qJK=/ 8=V;
A;VE= ;V5p /FAlV q 7K=4?q V U6JK*? ;J=8/ 9KB/ K=V96O
<K4 U J6 U=K'J,q K%K FA U J6 7K/JV6= 9/q;J6 9J :P/7P9q
U J6 ?rK; V K%K FAJ JV> U4V!6 U< K/K6 K/LE /8KAV>
K>K!/ U J6 9pJK5V/ :MK"V/V&6 9J :MK"V/V&6 9K>EJ /JBJ=
AVf4B B V/V& /JBJ B V> y K%K FA
K9>Vl2
K* K>K!/
K=V7J*q ;J=8/ 75J6 7K=4?q V K6;gK>K!/ K9@E 9KB/ K=V96
<3JH
U=J"L= 6J; 9G ,J U<J"JV<JV"= K+ J6J
! U=J"L U< U=JV" :MK"V/V&6 9J :MK"V/V&6 9K>EJ AVf4B B V/V&
/JBJ= 6J;
" U< 7K/JV6 U=J"L 9/q;JV6 J' K=V/V&6 9J A9qV?@ J'
K=EJV&6 /JBJ= 6J; K+ J6JO
A= J= A= J=L U"V'V* 7J76 J=J K/LE /8KAV> U J6 6P/6
U=J" AGV<J'6 K=V/ 7JK=V9 39J BJ B V/ U J6 U=J" 9J4
K4V/ 7JK=V9O
O '? Y )< ,< ,X<=( 4UG Y $'GPO0 =)G'Y2 *r'<G)0 `.$<Aoo U< U{V
U J6 7K/JV6 4M#q*6J 'K6/ K9VJ=. 7i>6 K"g J 9J AV9V" 7JK6 7V9?
39J 6p U J6 4M#q*6J #V* 39J U< U{V U J6 7K/JV6 K/LE /8KAV>
K>K!/ U J6 9pJK5= 7J4M:qJ9 U4!J U4E 9J K4EJV& 9K>EJ AVf4B BE 9G A= J=
<K4 ;V6 V= U< y=R7 4M#q*6J 9J 9pJK5= djV9= J=. /FAlK q/ 7K=Kv]K/
Al2V J6MJK6 /4eb B EJ 7VEJ'6 UA U{V A= J= U J6 U<J"p 9pKyV
y=R7 /4eb K=9J= '6p K6<My K=V/ 7JK=V9 9G J V6= 9J AGK? K9@VE
K9V?@ J6 Al6g U J6 9pKyV /4eb JV> VAA= KBAJV9 J' =J= '6p K6<My
K=V/ 7JK=V9O
y /4eb J=L 9pKy= U J6 AJ{L= 7Kv]K/ 4K>> 9J 6p U J6
9v\ U7? K6K/ =J= 7VEJ'V6 /4AGzJeb U4 EJ6L J<qK9K5=
5L6 U4 EJ6L J4J>V/= A > {;/J 3JK V9 9G U J6 9pKyV
/4Veb= VV?p U J6 AG9J4 U4 EJ= '6p K/K6 K6V4q? K4V> UA
9pKy 4 K9K5= 5J=J
= V3q BJ K=V/ J 6/ 9J5p 9K>EJ
".p B V96O
=)0<*k< 4UG Y =,G23 =,(<)
O =,*d) <1)<Aoo U< U{V A= J=

;V;q Ae\ BE U6JE BJV/ K6<My U J6 9pKy= AJG#JK/ ?J=LK=
'!; K9@JzJeb 9J 9pJK5V/ JzJeb B EJ= AljJ96J 3JV UA U{V A= J= K9K5
J=J y 7K/J6 AlV q K>K!/ K95J6 7.E6 K=V/ 7JK=V9 <3JH
U J6 U J6 7K=%J>6J (IMK 7P.q BJ U#J@.J
! ;KB>J K V?J= 9G K? V4= y JV' K6VEJ" K6K@ =J
" y JV' K6VEJK'/ 7V/p 9pKy= K6EK;/ ?J=LK= 7=L{J=
9p9v]J =J 9G y JV'= '6p 7<My 9K>EJ 7/pKE/ B6 6J
= ; U J6 9pKy= BJV/ K6VEJ" K6K@ =J
# y JV' K6<My 9pKy"V.= 9J BJ= JV? 7JV? ;q=/ 9pKy"V.=
AM ={J= 9p9v]J =J 9G ;q 7K=%J>6J= 9pJ7JV= K9V?@ U J6 9v\
9J 7e]J 9p9BJ= =J 9G
$ {K/ J= =JAJEK6 74J3q AlV q U6JK*?
9p9BJV== U{V
A/ q/J 9>ln6 =J= U6JK*?O
O '? Y )< 4UG Y F)<= 2 *r'<)Aoo
<K4 U J6 7K/JV6 U J6 4M#q*6J
#V* <JBJV/ 7J.BJK6 9J ?J=LK= '!; BE 39J <K4 U J6 7K/JV6 4M#q*6J'K6/
K9VJ=. 7i>6 K"g J AV9V" 7JK6 7V9? 9J 5M;r c"L=. #V* /JBJ B V>
;JK> 7K=4?q V 7=9/qL 4M
;q K49VA= ;V5p /FAlV q U6JK*? ;J=8/
9KB/ K=V96O
U< U{V 7 5J=J
K>K!/ U J6 4P#q*6JE ?J=LK= '!;
B EJ= J=V. BJ U J6 JB/ ?rK; V
J*%K>? #J= K5
A;E 7<qeb JV' 6M7Kv]/ 3JK V/ 9J5p V= UA U{V K9K5 J=J
K65qJK=/ U=K'JV= BJ K>K79 K=EJ =JK!V/ B V9O
7 5J=J
K>K!/ U=K'JV= K>K!/ K99=V.= K* K7
;JK> 7V/p 9FA= U? 'M6 9G U? K,VAl2= = 7=9/qL
76= K4V6= ;V5p 75J6 7K=4?qV = K6 * U7=. K=V96O
O $ bG1< =,*d)
)<0 F)<= 2Aoo U< U{V U J6 7K/JV6 K9K5
J=J K65qJK=/ 7 TK/= U J6 K976 #*6J #V* UA U{V BJV/ U J6 ?J=LK=
'!; B 9J 6J B
;JK> 7=9/qL K/6 ;qK49VA= ;V5p /FAlV q U6JK*?
;J=8/ 7K=4?q V 9KB/ K=V96O
71
36
72
/4Veb= 7VEJ'V6 y /4eb J=L

J V6= 5L6 U J6
7K=4?qV = U< U< {;/J /JBJ= 7VEJ" =J 7VEJ'6 9K>EJ ;V6
V=6 /JBJ K/K6 7rVEJ" K=V/ 7JK=V96O
/4eb J=L 9pKy A= JV== K6 * /JBJ= K=V7J*q U7? K=V96 9G
K=V7JV*q 4M#q*6J= J=. 9G /FAlK q/ 7K=Kv]K/ K>K79
K=V96 9G /4K9@VE /JBJ= 9G VAAV== U J6 ;eb9p
3JK V> /JBJ 9py K=V96O
A= J= /F /qS K65qJK=/ A;E
7e]JE y K=V7J*q 7 J?
K=V9O
O ).?)< 49 rG50 `.$<Aoo U J6 7K=4?q U J6 7K/JV6= v2J:JK9
;q A;VE ;JK> V AG9J4 K4EJ 7K/JV6 9p9/ 9J 9p9BJV== '6p J6L/ U J6
9v\= 6;M6J /H7= 9K.q/ 7e]JE AG"B K=V/ 7JK=V96 <K4 /JBJ= K6 *
7/LE;J6 BE U< y 9v\
J 6 9J U J6 K9K5= U!>J7 K=EJ 9p9BJ= =J
B V/V& 39J BJ= 9p9BJ= 7K/JV6= ?rK; "V.= ?J=LK= {K/ 9J v2Jv]p BJK6
#*J V/ 7JV=O
U< U{V U J6 7K=4?q y=R7 6;M6J AG"B V=6 UA U{V K/K6
;JK>
_&J T/:JV9 6M7Kv]/ 6J 3JK V> /JBJ= 7Kv]K/V/
AG"SBL/ 6;M6J K/6 GV? K9:y K=V96 9G BJ= 7V/p
G?V :J>:JV9 AL> 9G <3J<3:JV9 K%K/ K=EJ K4V96 9G
;JK> V
BJV/ /JBJ= K6'v2 AL> K% K49J= 6M;K/ K4V96O
7K=4?q
6MV=J5 K=V> ;JK> AG"SBL/ 6;M6J K9:Ky =. 9G
BJ AL>
K%K/ =V.= '6p 7VEJ'6LE A=JV;= 9p9v]J
K=V96O
7K=4?q
7K= y 6;M6J=
G? AV AV ;JK> V 74J6
K=V96 K/LE G? K9V?@. =/H BJ= 7= K=V7J*q 74JV6=
'6p A= J=L K9V?@V = K6 * U7=. K=V96 9G /S/LE G?
6;M6J 9v\K* AlV q U J6 U8Y'4J=L ;J;>J B V> J4J>V/ U7?
K=9J= '6p K6V'= JV& =JK!EJ K4V96O
5J=J= 5L6 A= J=L K9V?@ /Tq 7.L/ U J6 6;M6J 9v\=
7= K=V7J*q 6M=R7 9v\ Al2V 4JVE= T/ U J6 ;J;>JE AJ{p
KBAJV9 9p9BJ= =J <J V9O
O =$*7 =,*G'0 F`Gm *=0'2YG 0 `.$<Aoo
J V6 U J6 K9@E
Al2V AMv K95J6 6J =R7 U J6 U{V <K4 7K=4?qV = K6 * BJ 7/LE;J6
73
BE U K/K6 K>K!/ U6JK*? J=J /FAlV q ;JK> V 9KB/ K=V/ 7JK=V96 9G
U6JK*V? K>K!/ A;VE= ;V5p 7K/V/ U< U< J=V. BJ K976 9J
{K/ J= 9J ^K*7P.q /JBJ 4P=L:P/ =J= K6V4q? K4V/ 7JK=V96O
7 5J=J
= K95JV6= BJK6 6J K=EJ 7K=4?q K>K!/ JV4?
J=J U J6 7K/JV6= ;JK> V /JBJ= 7K/JV6= 9J BJ= U J6
GV?= U J6 vblj 7CJ EJ U8>J 9J ;J EJ U8>J K6K@ K=V/
7JK=V96 <K4 /JBJ= ;V/ BJ J=J 6p U J6 vblj :JKEJ 7CJ=
39J 7K/JV6= U J6 G?
JV> 5hKAEJ 7CJ= AljJ96J 3JV
39J BJ 7K/JV6= '6p K976 BEO
<K4 7K=4?qV = ;V/ U J6 7K/JV6 ;q=/ U J6 9pKy= 'L96
K6=J7J J K97V4= AloM!L6 /JBJ B V> K/K6 AGK? ;JK> V
74 K>K!/ JV4? J=J /JBJ=
;V/= J=. 9.q6J K=EJ K974
7AJK=/ B EJV&
;V;q K/K6 Ae\ 6J B EJ 7<qeb y 7K/JV6
9J BJ= U J6 GV? U J6 9pKy= K6VEJ" K6K@ K=V/ 7JK=V96
/V9 U J6 9pKy y K974 7AJ=V.= JV' K6<My 3JK V>
/FAlV q
JV4? 7V<J'p B V9 6JO
7 5J=J
= 5L6 74 JV4? J=J AG{N U J6 ;JK>
JV4? 7JK= 4? K4V6= ;V5p BJ= K9=^V 75J6 7K=4?qV = K6 *
J7L> K=V/ 7JK=V96 9G K/K6
JV4? 9BJ> AGV?J56 9J
9JK/> K=V/ 7JK=V96O
7 5J=J
9G
= 5L6 74 7V/p
JV4? AlV q
7K=4?q /JF{K. :JV9 A= JV== K6 * K=V7J*q U7? K=V96 9G
AGK? ;JK> V
K=V7J*q 74J6 AlV q 9KB/ K=V96O
75J6 7K=4?q 7 5J=J
= 5L6 /F /qS 74 9JK/V>=
JV4? 9p/L/ 6p U J6 JV4? AlV q /JF{K. :JV9 A= JV==
K6 * K=V7J*q U7? K=V96 9G
K=V7J*q 74J6 AlV q AGK?
;JK> V
9KB/ K=V96O
U J6 ;JK>V = 7 5J=J
39J
= 5L6 74 U J6
JV4V?= K9=^V J7K 3JK V> K/K6 JV4? 7JK= K9? K4V6=
;V5p y J7K 9G BJ= J=. K>K79 =/H A= JV== K6 *
37
74
{. (X<7
K>K!/:JV9 'J6J V96 9G A= J= BJ

K* K;K*= K6 *
KAJVeb= '6p U7=. K=V9O
y K;K*= KAJeb 6J 7J EJ 7<qeb U< JV4V?= K9=^V J7K
J76 =J B EJV& ;JK> V BJ ;JK6EJ %K>V/ B V9H
/V9 ?/q 3JV U< ;JK>V = JV94V6= 7K=V7K{V/ K;K* BJ=
KAJeb 6J U4 EJ 7<qeb 7 5J=J
= 5L6 74 JV4?
AJ;KE :JV9 v]K"/ =JK!V/ 7JK=V9O
O =,*d) -,) ,9 /Pe*<=$ 4U%Gv $&X *r'<)Aoo
U< U{V U J6
7K/JV6= ?rK; U4K!V/ 7J6 U< BJ= U J6 :96 9J <e7JK/ <JBJ ?rK;V =J
AJ5J=./H 9p9BJ= V=6 ;6 K976 9v]JE JV& U< BJ UVl2
/FAlV q K>K!/:JV9 ;JK> V 9KB/ K=V96O
y=R7 AG9J4 7JK= 7= ;JK> <K4 K/6 K4V6= ;V5p /FAlV q
<3J<3 9p9v]J "B. K=V/ 9p3q B6 9G y :96 9J <e7JK/
9p9BJ= =J= J=V. U J6 ?rK; <K4 '!; 7J B6 /JBJ B V>
;JK>
6M=R7 '!; 7J ?rK; V J4? 5pJVE= 5L6 y=R7
'!V;= '6p 7V4E {K/7P=V.= K}. BJV= {K/7P=. K4V/ 9J5p
3JK V96O
O =$*7 <G .=51< G#0 =)G7<G ,<(< =)G3(Aoo 5J=J
9G
= K95J6}K> K V?J= ?rK; "V.= '6p U<;6 7V<J'p ;KB>J ?rK; "V.= '6p
U/;6 7V<J'p B V9O
O (X<G70 )?*B0 =,=( *r#7G)0 `.$<Aoo A= J= K9K5 7.E6 K=EJ
U J6 7K/JV6 K6<My ?rK; "V.= K6=J7J= '6p K/K=y K95J6 9J
9p9v]J "BV.= '6p K6V4q? K4V/ 7JK=V9O
! U J6 :9V6= 4SD 9v]J AlV q K9K5 J=J K65qJK=/ U<J"p/J Al6g
U J6 9pKy /qS K9K5 J=J K65qJK=/ 8=V; 74 7/pE6 7 75J6
7K=4?qV = K6 * 6J U7IY&J 7<qeb y :9V6 ?Ky %JK>/ U J6
F7J46 7KzEJ %J>JV6J K6K@ K=V/ 7JK=V9O
75
1X<#.B1 ,X,\L<
O *r<&=. = = 84< 40h<.Aoo
7V/p 7K/JV6 A > ;q A;VE
<JBJV/ ABV' 7J EJ <JE ;6:JV9 7J3K; K%K FAJ A=J; A;S 9J| 39J
K9K5 J=J K65qJK=/ A=J; A;S J>K;=J= 9p9v]J K=V/ B V9O
y=R7 9J| 9J J>K;=J= AG!pJ 7K/JV6 AJ5J=./H K6VEJK'/
7V/p
?/ 7J? '6 ?rK;V = '6p K*= ; B V9 6JO
7V/p 7J3K; K%K FAJ 9J| 39J J>K;=J ;6
'6
4JKE/i7P.q 9pKy= K'loJE 3JK V9 K<K6 7J3K; K%K FAJE
7K?{.7J 9G <JBJV 7K/JV6= A > ;q A;VE 7J EJ <J V9O
7V/p ;q V{ y 9pKy= 6J; Al2K>/ K* U6JK*? *JG"J EJ
U4 EJ B V9 9G y 9pKy /JBJV ABV' A6Jy =J <JE ;/
9pJ' 7K=5J6 K=V96O
U< A > 7K/JV6 AJ5J=./H K/6? 9J /V/JK5 ?rK; K6VEJK'/
3JV 6 UA A > 7K/JV6 K9K5 J=J K65qJK=/ ;JV7= <e7JK/
AK/ 39J 6pJ6p AMK95J Al2K>/ K,AV76AJ=LAB
K* U=J"L
{ 3JK V9 9G y {K* K9K5 J=J K65qJK=/ K%K FA
6JKAqG
JV8= 4JKEV/i 3JK V9O
O F4 += F0 !Y ,? 490`#Aoo 7IK%? 'V6= K5 ?K; AlnK>/
7V/p
J=!J6J 7K/JV6 K65qJK=/ 7K/V/ 9J5p/J;P> UA 8K* U= ,q 9M
UA 8K* U9J,q AG={. K=V/ B V9O
O F(I$ 0# 4?=,(<Aoo
7V/p 7K/JV6
BJV/ ;q=/ ?rK; "V.= 9p9BJV== '6p <V3 AG!p
7<My
U"JA>!J6J U5Y/ =V.= AMK95J 9G BJ= ={.JV9{V.= 9p9v]J
3JK V/ B V9
! y=R7 AMK95JK4 7M=^@ ;KB>J ?rK; "V.= '6p v2/e:JV9 3JK V/
B V9 9G BJ <3J<3:JV9 74qJV#=J 3JK V9
" y=R7 AMK95JK4 A9 A;E 7K=vZJ= 7K=_&6g =JK!V/ B V9 9G ABV'
";6V<J"p B V/ B V9O
A= J= K9K5 J=J U J6 7K/J6 AlV q y=R7 AMK95JK4= ;J6
38
76
O X<=Q )Aoo
U< 7K/JV6 AJ5J=./H
?/ 'V6= K5 ?rK;
K6<My 3JV 6 UA 7K/JV6 /JBJV4= 9p9BJV== '6p <V3 AG!p pJKf*6 3JK V9O
A= J= K9K5 J=J
U J6 pJKf*V6= K6;qJ. v]J6 AGv]J6 JA9J97 9G 6pJ6p
A=JV;= ;J6 K65qJ=. K=V9
! pJKf*V6= '6p K* 9p9v]J76J K;K* "+6 9G BJ= 9p9v]J76JE
?rK; 7K/K6K5V/i= '6p K95J6 K=V/ 7JK=V9O
pJKf*V6 K 5=V6= !J4p A=9=JB =J B V9 9G BJ= ;P>p /
B V9 /JBJ y 9p9v]J76J K;K* K65qJ=. K=V9O
O =,2Z<. ` $X<='Aoo AJ5J=./H 7J? 'V6= K5 ?rK; K6<My
3JV 6 =R7 7V/p 7K/JV6 ?rK; "V.= 9p9BJV== '6p <V3 9G 7<My
AG!p K9?rJ; V{= 9p9v]J ={.JV9{. K=V/ B V9 9G y 7K/JV6
?rK; ". <JBJV/ /JBJV4= AV J6L/ !J9J= !J V/ 7JV=6 UA '6p 7J6 =J=
7JK6= 9p9v]JAB
K* 7<My !J9J= V{= 9p9v]J 9G ={.JV9{. K=V/
B V9H
/V9 ?/q 3JV U< 5J=J
= 5L6 AG=K{/ U J6 pJKf*6
7 5J=J=
5L6 7VEJ'6LE U J6 9p9v]J= G? 9K>EJ ".p B V9H
JV=J ?/q 3JV U< U< 7K/JV6 U J6 !J9J= { K94p;J6 UA!JV6
?rK; ". /JBJ= ;q V{ 9KAEJ U J6 !J9J= !J V/ 7JK=V96 6JO
y K9?rJ; { 9G !J9J= { <V3:JV9 JV>JK / 9G 9JEM
Al2K>/ B V/ B V9 9G 7K=vZJ= AB6LE /J7;JJE ={.JV9{.
K=V/ B V9O
U< A > 7K/JV6
'V6= K5 ;KB>J ?rK; K6<My 3JK V96
UA!JV6 7M=^@ ;KB>JV4= '6p 7S3 K9?rJ; V{= 9p9v]J 9G U<
A > 7K/JV6
'V6= ; ;KB>J ?rK; K6<My 3JK V96 UA!JV6
K9?rJ; V{ 7S3 74qJ U#=J 'JE"J= 9p9v]J 3JK V9O
O =2z Àoo AJ5J=./H %K>? 9J /V/JK5 ;KB>J ?rK; K6VEJK'/
JV&6 =R7 7V/p 7K/JV6 /JBJV4= &E 9FAV== ; 9EAL K? AebJ6"V.=
9p9BJV== '6p
9J JK5 7<My V{= 9p9v]J ={.JV9{. K=V/ B V9O
y=R7 U J6 V{ <V3 v]J6 AGv]J6 JV>J 9JEM %>J%V>= 9p9v]J
3JK V9 9G BJ 7K=vZJ= 7K=_&6g v2Jv]pAlo/:JV9 ={.JV9{.
K=V/ B V9 9G {K* K? V4= 7K=%<qJ= '6p K: 9J
7K?{.7J ;KB>J= /iJ95JV6 3JK V9O
77
y=R7 { K? V4= ;JVEV4= '6p AB'";p B V/ B V9 9G

<MKyAG"/:JV9 </4M= Alj9 BJ 7K/JV6= ;6 U J6 GV?=
AG>"g 9J K6 V* 9Kv]/ B V9 6J U<!J6 B V/ K9=Ky = U5IJEJ
5P>J9JK> 9J " K6"q/ BE 39J U<!JV6 K/ ;JJE ?;E J'
;q 7K=%JK>/ BEO
y=R7 { ;'9M/:JV9 K6;qJ. K=V/ B V9 9G BJ= A >
U4 EJV> &JV4 7<My /J7 7K/V=J5 9v\ 3JK V/ B V9 9G
BJ 7JK6 U=J5 B V/ B V9O
y=R7 V{= _%/J U;V( B V/ &JV4= A9qK6;g G? 7<qeb
UAKf*K;*JV== 6LV% B V9 6J 9G BJV/ 9v]J6=/ 7V/p K? =
'6p U;V(= 7K=;J. B V9 ;7V{
9"qVAKf*K;*J=O
y=R7 U J6 V{= 7V/p GV?= '6p 7%N= JV>J 9J/JA ;My
9JEM AJ>V6= 7<My
J<q = 9p9v]J 3JK V/ B V9O
y=R7 U J6 { <V3 JA9J97 J=J AK/ 3JK V9 9G K9V?@
K=EJ 7V/p K? = '6p K9&J6JAB K* !J* 9J U4J>6J 3JK V9
9G 7V/p ;J <!6 K? V 4M5 7J6 =J V96 9J 7K=%<qJ K=V96
/!6 /JBJ= 9p9BJV== '6p eb/H
K* U%EJ= 9J
7 JV==
U J6 JA6 3JK V/ B V9 9G /N>6J;P> :JV9 9EvZ K? V4= '6p
<V3
7<My U!>6J= A=9=JB 3JK V/ B V9O
/N>6J;P> :JV9 9EvZ K? V4= '6p
K* 7<My U#=J U4 EJ
&JEJ;E loMy U!>J= ;J+ 3JK V9H
/V9 ?/q 3JV U< 75J6 7K=4?q K>K!/ JV4? J=J U J6
7K/J6V
7 5J=J= K95J6 B V/ 9pJBK/ K4V/ 7JK=V96 <K4
K/K6
;V;q Ae\ B6 U< y=R7 U!>J= ;J+ =J= '6p 7K/JV6=
<V3 'JE"J 6J O
O < ,< <G) =,G)<') =2`<0 4?=,(<Aoo A= J= %J 9J"J6 AlV q
K9K5 7.E6 K=EJ BJ= 7V/p ;JK> V UA!JV6 K6<My ?rK; ".
9G /JBJV4= K? AebJ6"V.= '6p K9K5V/ K>K!/ K9V6J46;P>
AMV<J" AMK95J= 9p9v]J =J= '6p K6V4q? K4V/ 7JK=V9O
! U< U{V U J6 %J 9J"JV6= ?rK; "V.= &E B V/ 9JV=J 9&= 9EAL
K? AebJ6"V.= AG!pJ 7IK%? = 7V= BE UA U{V K9K5 7.E6
K=EJ BJ= ;JK> V K9K5V/ K>K!/ 7r JV= 9G ;JV6=
K? V4= K?{J= AMV<J" = 9p9v]J K=9J= '6p K6V4q? K4V/
39
78
),. (X<7
7JK=V9O
" 7K/K* %J 9J"JV6 ?rK; V4= 9G /JBJV4= AebJ6V4= '6p K9K5 J=J
K65qJK=/ 7e]JE 7<My K%K FAJ U f4r 7K/J K=V/ B V9O
O < ,< <G) D5<7) 4?=,(<Aoo 7V/p %J 9J"JV6= ;JK> %J 9J"JV6
9A9JA=/ 7V/p ?rK;
9G /JBJ= 7K=9JV== '6p "SBJEV6= AMK95J= 9p9v]J
K=V96O
O < ,< <G) H')=Q') *rG7< )>7 = =)4*m $X<=' *r<=x0 4?=,(<Aoo %J
9J"JV6= 7V/p ;JK> /JBJ= ?rK; "V.= '6p AB'";p v]JV6 /JBJV4= W46Kf46
7VEJ'6LE K'K6A 7JK= AMK95J= 9p9v]J K=V96O
O 49,<'*m 2Z=.G 0 )X = = 84< *=0 /Y<Aoo 7V/p AG9J47 ?rK;
9G /JBJ= 7= K6:q=?L>". AG9J47 7K/JV6= !=V% K9K5 J=J K65qJK=/ 7e]JE
7K=;JV. K%K FAJ 7K=%<qJ 7J 9J= K5 J=L B V96O
,X< X<:oo
5J=J= 7VEJ'V6 K6:q=?L> 9K>V/ U J6 AG9J47 ?rK;V =
v2J;L 39J vL K959J ;J J/N= K7/J ;J/J 9G W95 7M
6pJV 9M(J V9
<JBJ=J y ?rK;V = AKB/ 9A9JA V=6 9G /JBJ= 7= AlP.q K6:q=?L>O
O ,<(X$<.B1 rM* ,>.< <1? 0#Aoo U<A > 7K/JV6 6Mp6
'6
v]JEL ?rK; ;q=/ JV&6 UA!JV6 A= J= K9K5 J=J K65qJK=/ 7K/V/ "^7 9L;J
%J>M K=V/ 7JK=V9O
79
.Y i<
?=
O H'=)
.Y i<Aoo U J6 7J9EvZ ?rK; U J6 7K/JV6 AJ5J=./H
W4K6
J* #J= K5 A;E J' K=V96 6J 9J /JBJV K4VE J' =JV6J
<J V9 6JH
/V9 ?/q 3JV U< 5J=J
= K95J6 AJV7V{ U J6 7K/JV6 y=R7 U J6
?rK; W4K6 4? #J 7<qeb J' K=V/ 7JK=V96O
O =,2Z<. ,< <5<G00 )X =,0=$Aoo U J6 7K/JV6 U J6 ?rK;
W4K6 &E #J= K5 J' K=V/ 9J5p 3JK V96 6J <K4 6J y
K4V6 /JBJV K9?rJ; 9J JBJV== '6p
#J K9=K/ U4 EJ BE
! W4K6 7IJ% #J= K5 J' K=V/ 9J5p 3JK V96 6J <K4 6J y
K4V6 y VV?p /JBJV J5J #J K9=K/ U4 EJ BE 39J
" W4K6 J* #J= K5 J' K=V/ 9J5p 3JK V96 6J <K4 6J y
K4V6 y VV?p /JBJV 48J
= 5L6 K* K9=K/ 39J
48J ! = 5L6 4M K* K9=K/ U4 EJ BEO
O 4<x<=5
.Y i<Aoo
U J6 7J9EvZ ?rK; U J6 7K/JV6
AJ5J=./H AJVB J*%K>? #J= K5 A;E J' K=V96 6J 9J /JBJV K4VE
J' =JV6J <J V9 6JO
5J=J
= K95J6 AJV7V{ U J6 7J9EvZ ?rK; U J6 7K/JV6
AJVB J*%K>? #J= K5 A;E J' K=V/ 7JK=V96H
/V9 ?/q 3JV U< U J6 AJVB y=R7 U J6 ?rK;V = U;J* ;q
A;E @J* #J= K5 B V9 6J 9G U J6 9FAV= BJ "VC 7K/
AJVB &JJ6g #J= K5 B V9 6JH
J= ?/q 3JV UK!/
JV4? J=J JV=JK7/ ?V/q
5J=J= K95J6 K?K3> K=V/ 39J
BJ B V/
J>L6 AV9qJ_% &E ;JA U;EJV4= '6p 9pJBK/ K4V/
7JK=V9 <K4 A= J=
;V;q Ae\ BE U< '6v2JV3q 3qX6K/
6gEV6= v2JV3q y K?K3> 9pJBK/ 7VEJ'6LEO
40
80
O 4<x<=5 ?= Aoo U J6 7K/JV6 ;q=/ U J6 ?rK;

U4J J6 9JK.'p 9J K? 7K/JV6= U{V 7K/ AJVB U4C K46 9G
> J=!J6J 7K/JV6= U{V K46 &NK* 7J V96
! AC 7K=9B6 7K/JV6= U{V 7K/ AJVB K9K_&6g %K9h? #J=
K46 &MK* 7J V96 9G y=R7 U J6 &MK*= '6p /JBJ= ;'M=L
B V/ U J6 /q6 %K>V9 6JO
O `=$*B0# .B1 4<x<=5 ?= Aoo U< U{V U J6 7K/J6V 9J BJV/
;q=/ ?rK; ".V 5J=J
= K95J6 B V/ 9pJBK/ 74J6 K=EJ 'J=L T/
U J6 JV4V?= 8V> 39J
J V6= 5L6 7.L/ U J6 K9K5= 8V> U J6 ?rK;
y 5J=J= 5L6 /JBJ= 7J7p U J6 &MK* B V/ 9K/ B6 UA U{V y ?rK; V
9v]J 6M<JEL <3J?L# Alj9 y=R7 &MK*= K4V6= A; AG!p &MK* ;M= K=V/
B V9O
O .Y 4.G70 4U*r4<0#Aoo U J6 7K/JV6 ;q=/ U J6 7J9EvZ
?rK;V = JV'= A;E ;6:JV9 9p9v]J K=V/ B V9 U<6 5J=J
= 5L6
/JBJ= JBJ= K9?rJV;= K9=K/AB BJ 4? #J= K5 Al7AJK=/ 6J BE /V9
A= J= /Tq AJ5J=.:JV9 39J U J6 K9V?@ 7K/J6 Al2V 74 6M;K/=
K:KV/ 9G /F /qS JV=JK7/ ?V/q BJ= 9pK/z; =J <J V9O
O H)2 *<1<Aoo U< U{V U J6 7K/JV6 U J6 7J9EvZ ?rK;V = U J6
7J>J= J' ;5p =JK= 7V= Al7AJK=/ BE UA U{V
5J=J
= 7VEJ'V6 y ?rK;V = '6p
K* 7P.q K4V6= &MK*
9K>V/ 9M(J V9 /JBJ= 7J>J U?@ B EJ= A;E B V/ 7=9/qL
K9K_&6g %K9h? #J 9G
! /JBJ= '6p 7=9/qL K46 9K>V/ 9M(J V9 /JBJ= 7J>J U?@ =J= 7=
7=9/qL K9K_&6g %K9h? #J 9G ;5p =JK= 7= K/K6 </ #J
J' K=EJV&6 /JBJ /JBJ= 7P9q9/qL K4V6= JV'= A;VE= AKB/
".6J =J B V9O
O /<),<5G) _.*?=h$ .Y i<0 *0 ,<(<Aoo
J V6= 5L6
6MV;JK4/ A;VE= K/K=y U J6 A;E U J6 ?rK; U J6 <J69JBV6 9J
JK5
<J69JBV6 J' K=V96 6J 9J /JBJV J' =J= 6M;K/ U4 EJ B V9 6JO
O =( <1 G.Y0 )X =$=0^ -<$<Aoo U< U{V U J6 ?rK; U J6
7K/JV6 U J6 K46 9J AJVB
J V6= 5L6 K6K4q A;VE= K/K=y A;E J'
V=6 UA U{V K/K6 K5 J> JV'= '6p /JBJ= ;P> ;'M=L ;BJ#q:J/J 9G
,B 9J eb9/qL ;'M=L <K4 3JV
= AJ5J=. BJV== K}. BJV= :J/J 7J V96O
U< U{V U J6 ?rK; V U J6 7K/JV6 K+ J BJ= K:KV/ ;'M=L
81
U4 EJ BE UAV{V ;JK>
5J=J= 7VEJ'V6 ?rK;
7K/K6K59SVf4= AKB/ JV>J%6JzV; </4M= Alj9 y=R7 ?rK; "V.=
"C 7J'qV6= BJV== A;J6 A;E BJ= K65qJ=. K=V96 9G y=R7
K65qJK=/ BJ= y=R7 ?rK; "V.= AJ5J=. ;'M=L BJ= 9K>EJ ".p
B V9O
5J=J= K95J6 7J>6 K6K/ =J= >V{p A= J= U J6 7K/J6
/Tq ={.LE U=K'J= K9K5J=J K65qJ=. K=V/ 7JK=V9O
O .=51< 2Z=.G 0 )X 4>=.$ .Y i<Aoo U J6 ;KB>J ?rK; V /JBJ=
K96J 6M;K/V/ U J6 7K/JV6 =J/ 4? #K* J B V/ U:J= &E #K* J 7<qeb A;VE=
;V5p U J6 J' K=V/ U4 EJ B V9 6JO
O Ht$ < @0>0 *0 ,<(<Aoo 75J6 7K=4?qV = K96J 6M;K/V/ 9G
/F /Tq
JV=JK7/ ?/q 9p/L/ U J6 7J9EvZ ?rK; V
K4V6
JK5
7K/JV6 J' K=V/ U4 EJ B V9 6JO
O *r<x,7\J 2Z=.G 0 <G 0 4.G70 F)<= 2 ,9 5<0 *r\K=$Aoo
7V/p 7K/JV6 BJV/ ;q=/ 7J9EvZ ?rK; ". U J6 U J6 A;E J' K=V96
BJ 7K=uZJ=:JV9 K>K!EJ K* U6JK*? 5J=J
= K95J6 6M<JEL 74K?q/ B V9
9G 7K/JV6 :JV9 =K{/ B V9O
y U6JK*V? 74K?q/ A;E
5J=J= K95J6 6M<JEL 7PV9q Kv]=
K=V/ B V9 9G BJ ;6 B V9 U<6 y A;VE ;q=/
?rK; ".V 5J=J
9G
= K95JV6=
U!>J7 K=EJ J' 6J =JV6J BEO
U< U{V U J6 7K/JV6= A > 7J9EvZ ?rK; V
A;EA;PVB
J' K=V/ BE UAV{V ;JK> y A;EA;PB AJ5J=.:JV9 Kv]=
K=V96O
U< U{V U J6 7K/JV6= A > 7J9EvZ ?rK; V
A;EA;PVB
J' K=V/ BE 6J UA U{V ;JK> y=R7 ?rK; ".V /JBJV4=
JV'= 7 TK/ 6MAJV= K9K:6g 4V> :J" K=V96 9G 7V/p 4V>=
?rK; AG!pJ K65qJ=. K=EJ K4V96O
U< 4>V U J6 7J>J 7K/V/ J' K=V/ BE 6J UA 4>V U J6
A;E J' K=V/ B V9 /JBJ ;JK> K6K4q K=EJ K4V96O
U< U{V U J6 4>V 7J>J 7K/V/ J' K=V/ BE 9G
K=V>}K> K6K4q 7<qJEzK; 7J>J 7K=9/qV6= 5LV6 6E UA U{V
y=R7 7V/p 4V>= K=V>V U J6 A;E J' K=V/ B V9 /JBJ
41
82
;JK> K6K4q K=EJ K4V96O

U< U{V U J6 4>V 7J>J 7K/V/ J' K=V/ BE 9G
K=V>}K> 7P9q K6K4q 7<qJE zK; 7J>J 7K=9/qV6= 5L6 UA U{V
;JK> 7J>J=
K* vZL; 7.E6 K=V96 U<!JV6 U J6 4V>=
K=V>V U J6 K4V6= U J6 A;VE J' K=V/ B V9 /JBJ 'J6J
<J V9O
5J=J= 5L6 JV'= A;E AlK q/ U J6 U6JK*V?= 4M K* K7
U J6 7K/JV6= J' =^ B 9J= 7PV9q 6MV;J4V6= '6p
7K=4?qV = K6 * U7=. K=V/ B V9O
y U6JK*V?= K* K7 7K=4?q
BJ 7JK=
AJVB= ;V5p
U J6 AGV?J56 7VEJ'6 B V> BJ K6V4q? K=EJ ;JK>V = K6 *
U8=/ 7J+J V96 9G ;JK>
y=R7 AGV?J56 <K4 3JV
K9>Vl2 J<q = K=V96 9G 7K/JV6= U= V,q y=R7 6MV;J46
AG={. K=V96O
U J6 7K/JV6= JV'= 7K/V/ U J6 7K=9/qV6= 7vbJV9 <K4
U6JK*V?= 7K=9/q6 7VEJ'6LE B EJ 7VC /JBJ B V> 7vbJK9/
7K=9/qV6= 7PV9q BJ= 4M K* K7 7K=4?qV = K6 * U7=. K=V/
B V9 9G 7K=4?qV = 7P9q 6MV;J46 9p/L/ y=R7 U J6 7K=9/q6
J<q = =J <J V9 6JO
U J6 7K/JV6 U J6 K4V6= JV'= K65qJK=/ A;VE= J5J #J 7V=
<K4 U J6 ?rK; JV' BJK'= B6 /JBJ B V> ;JK> y ?rK; V
y K4V6= JV' K6VEJ" K=V/ v2L J= K=V/ 7JK=V96O
O 46 *=0,5) 2Z=.G 0 )X =,G23 ,744>.<Aoo
N? 9FA= 9EA
7P.q 6J B V> U J6 AC 7K=9B6 7K/JV6 U J6 9pKyV "JCL %J> KBAJV9
K6VEJ" =J <J V9 6JO
J+JV=J 9FA= 9EA 7P.q 6J B V> 6p U J6 9pKyV y=R7 U J6
7K/JV6 6p U J6 7V4 K6VEJ" =J <J V9 6JO
O F)<= 2 ,9 F0= ~<G00 4=5$ .Y i<0 =.1 &< <Aoo 5J=J
= 5L6 U6JK*? 9G 5J=J
= 5L6 =K{/ U=K'JV= U J6 7J9EvZ ?rK;V =
6JV;= K97=LV/ 7P9q K>K79 K99=. 6M<JEL 9p/L/ K/K6 U J6 J' K=V/
7JK=V96 6J 9J /JBJV U J6 J' K=V/ U4 EJ <J V9 6JO
O F'< <) $X<=' ,vAoo
7V/p U4J J6 9J 9JK.'p 9J K? 7K/J6
7K/ AJVB eb/H U4C K46 AlP.q 9 3JK V9O
U J6 >J JE y=R7 U J6 7K/J6 U J6 U4C K46 AlP.q 9
83
3JK V9 /JBJ 75J6 7K=4?q Kv]= K=EJ K4V96H

/V9 ?/q 3JV U< 75J6 7K=4?q A;E A;E '6v2JV3q y=R7
K65qJK=/ K46 U J6 >J J= '6p 7P.H K65qJK=/ K=V/ 7JK=V96O
U J6 U4J J6 U J6 K46 =JK J* #K* J= 7= U!J>J =J!J <J V9 6JH
/V9 ?/q 3JV U y A;VE= 9p9KB/ J5J#J 7=
7<qeb y "JB V U 6J J*J= AMV<J" U4 EJ <J V9O
A= J= K9V?@ 9v]J K9V9%6JE A= J=L U"V'V* 7J76 J=J
U J6 U;YAMV; U6JK*V? K>K!/ ?V/q U J6 >J J= U4J JV6=
9V= A;E 7K=9/q6 K=V/ 7JK=V9O
5J=J= K95J6J9>L K6;gK>K!/ U{V 7V<J'p B V9 6J <3JH
, U'K* U?6 39J K9;J6 9f4= 9G 7K=9B6 AJK:qA *JK;q6J>
K8A
! 75J6/H /K= /= J=L ;JGA ;J& 4M~ 'J/LE AJ;"L =^K* U7Kr
K;K 9G 8N> K9zL= U4J J6
" 75J6/H @5 7JV=?6 A=J; 9pJV' 39J K%K FAJ AGzJeb
7VEJ'6LE AJ;"L= U4J J6
# 4J86
VebpKKzEJ AlJ4V6= '6p 7VEJ'6LE AJ;"L K9zL=
U4J J6
$ 75J6/H /J;J KA"J= KA"JV=* 7J6 K9KC 9=8 !9V== J"'
AJ;KE L K9zL= U4J J6 9G U4J JV6 9KAEJ !J EJ= '6p /=>
6J?/J K9zL= !M%=J U4J J6
% !M%=J U7V*rJ> K9zL= '6p U7V*rJ> 7Jl 9G U;=J;/ J=!J6J 6E
;6 U;J*= "JCL= AJK:qA U?6
& 6JK7/ 9G U ? 7AJ56L= U4J J6
' UJ K6uZJ?6 39J v2Jv]p 9p9v]J
( UJ 39J
7JK6 A=9=JB V=
) tJ9 UBJV*> U=VvbJ=J !J9J= U4J J6 KAV6;J 39J K3VE*J=H
/V9 ?/q 3JV U<
U4J JV6 39J 9JK.'p 7K/JV6 <K4
JK5 9p9AJ 9JK.'p 7K=%JK>/ BE 9G BJV4= K5 JG?
/JBJV4= 7 SK/= J=V.
5J=J= 5L6 9pJBK/ 7J EJ= U<J"p
/JBJ B V> A;" U4J J6 9J 9JK.'p 7K/J6K*= U{V y=R7
42
84
9pJBK/ 7V<J'p B V9H

JV=J ?/q 3JV U< 75J6 7K=4?q A= J=L U"V'V* 7JK7/
AJ5J=. 9J K9V?@ JV4? J=J 7V=Jy 7V/p 7K/J6 9J 7K/J6
U?r.L= '6p BJ= U!J>J 9V= A;E Kv]= K=EJ K4V/ 7JK=V96O
O H)=.=k ?= Aoo 7V/p ?rK; 7K/ 7K J 9FAV= 7P.q ;'M=LV/ 4?
K4V6= W6K;K &MK* 7J 9J= K5 J=L B V96 9G y=R7 &MK* U J6 J=V. U:J"
6J K=V> BJ ';J 3JK V9 6J 9G U J6 9FAV== &MK* 7=9/qL 9FAV= U:J" =J
<J V9 6JH
/V9 ?/q 3JV U<
5J=J= U J6 K &M %J 9J"JV6= 5LV6 K6<My U J6
?rK;V = U{V 7V<J'p B V9 6JO
O *>6< ?= Aoo
AG9J4 7 ?rK; 9p/L/ 7V/p ?rK; 7V/p
7K J 9FAV= 7P.q ;'M=LV/ U%Y K4V6= 7LCJ &MK* 7J 9J= K5 J=L B V96O
7V/p AG9J4 7 ?rK; /JBJ= %J N=L= U;EJV4= 6Mp6
J4? G? A;E 5q ;'M=LV/ 7LCJ &MK* 7J 9J= K5 J=L
B V96O
y=R7 U J6 &MK* ;M= =J B V9 6J <K4 6J ;JK> /Tq K6<My
'6 U=K'J,q K%K FA
39J y=R7 K%K FAV = 9/q;JV6
6p U J6 U=K'J,q K%K FA 7=L{JVeb
;V;q 7/pE6 V=6 U<
AGK? ?rK; 7LKC/ 9G /JBJ= K%K FAJ 9J JV=JV"p= '6p
7/pE6 7V K>K!/ A;E &MK*= 7VEJ'6O
y=R7 &MK* ';J 3JK V9 6J 9G U J6 9FA= U:J" =J 6J B V>
7=9/qL 9FA= BJ J= U:J" =J <J V9 6JO
O . ?0>45 ,<84=0 ?= Aoo
U J6 7K/JV6 K9K_&6g:JV9
9FA= %J N=L 7P.q K=EJV&6 ;6 7V/p 7J9EvZ ?rK; V 7=9/qL 9JV=J ;JA
A;VE /JBJ= 7P9q9/qL 9JV=J ;JVA= JV'= '6p ;'M=LAB K6;g 9K.q/ BJV= ".6J=
K:KV/ &MK* ;M= K=V/ B V9 <3JH
U J6 U4J J6 9J 9JK.'p 9J K? 7K/J6 39J U J6 J=!J6J 39J
AC 7K=9B6 7K/JV6= U{V 7K/ J+J= K46 JV'= '6p
K46
! U J6 %J 9J"JV6= U{V 7K/ 9J ? K46 JV'= '6p K46
" U J6 AG9J47 ?rK;V = U{V 7K/ "J= K46 JV'= '6p
K46O
U J6 7K/JV6 K9K_&6g:JV9
9FA= %J M=L 7P.q K=EJV&6 ;6
85
!
"
7V/p
7J 9EvZ ?rK; V 7=9/qL 9JV=J ;JA A;VE /JBJ=
7P9q9/qL 9JV=J ;JVA= JV'= '6p ;'M=LAB K6;g9K.q/ BJV= ".6J=
K:KV/ &MK* ;M= K=V/ B V9 <3JH
U J6 J=!J6J= U{V 7K/ 76= K46 JV'= '6p K46
U J6 %J 9J"JV6= U{V 7K/ J+J= K46 JV'= '6p K46
U J6 U4J J6 9J 9JK.'p 39J K? 7K/JV6= U{V 7K/ U%Y K46
JV'= '6p K46O
5J=J= 5L6 ;M= T/ U J6 &MK*= A;VE= ;V5p <K4 6p U J6
&MK* 7VC /JBJ B V> y &MK*
BJ= eb:Mqy B V9O
<K4 U J6 ?rK; U J6 9JV=J ;JA U;EJV4= ;V5p 7 5J=J
39J
= 5L6 /JBJ= 7J7p U J6 &MK* AlP.q 9J G?/ U:J" 6J
V=6 /JBJ B V> y=R7 7J7p &MK* 7=9/qL 9JV=J ;JA U;EJV4
/JBJ= 7J7p &MK*= AKB/ <My B V9O
7 5J=J
<JBJ K &M 3J N 6J U 6 U J6 7J9EvZ ?rK;V =
5J=J= 5L6 &MK* 7J 6J 9 B EJ <J V9 <!6 /JBJ= 7J 6J
K'q/ &MK*
U J6 J=!J6J 39J AC 7K=9B6 7K/JV6= U{V %K>? K46
BE
U J6 %J 9J"J6 U4J J6 9J 9JK.'p 39J K? 7K/JV6= U{V @J*
K46 BE O
7 5J=J
<JBJ K &M 3J N 6J U 6 U J6 7J 9EvZ
?rK;V =
5J=J= 5L6 &MK* 7J 6J 9 B EJ <J V9 <!6 /JBJ=
7J 6J K'q/ &MK*
U J6 J=!J6J 39J %J 9J"JV6= U{V @J* K46 BE
U J6 U4J J6 9J 9JK.'p 39J K? 7K/JV6= U{V JK? K46 BEO
U J6 ?rK;
K'q/ &MK*= '6p 4=!Jvb K=V> <K4 ;JK> U J6
J=V. BJ 6J ;M= V=6 /JBJ B V> y 6J ;M= T/ &MK*
AGK? ?rK;V = KBAJV9 7 5J=J
39J
K>K!/
AL;J= K/K=y 7J 6J KBAJV9 <My B V9O
5J=J= 7VEJ'V6 U J6 ?rK; U J6 7K/JV6 K9K_&6g:JV9 U J6
A;VE= '6p J' AlP.q K=EJV&6 9K>EJ ".p B V96 <K4 9J y
A;VE K6;gK>K!/ J=V. /JBJ= J' 9pJB/ B EJ 3JV
<3JH
43
86
'2. (X<7
U J6 9V= K46
! U J6 ;'M=LAB &MK*
" 7LCJ 9J 4M#q*6J= J=V. ;'M=LAB 9J ;'M=L &JCJ U J6 &MK*
# 6K5 U@J> AJB 7<qeb 7APK/ &MK*
$ U J6 U> 8
% J 6 Alo/ U J6 5;q#* 9J U9 J 6L U J6 > J *O
O 84, ?= Aoo
7V/p ?rK; V 7K/ 7K J 9FAV= "J= K4V6=
;'M=LAB FA9 &MK* ;M= K=V/ B V9O
K9K5 J=J K65qJK=/:JV9 ;JK>
y &MK*= K46
/JK=! Kv]=
K=V96O
U J6 ?rK; V U J6 FA9 &MK*= K4V6 J' K=V/ 9>J <J V/
7JK=V9 /V9 BJ= '6p /JBJV 5J=J
= K95J6 6M<JEL 4M
K4V6= ;'M=LAB {K/7P=. &MK* 9G K* K9 &MK* ;M= K=V/
B V9O
O ?= &,< ,Gv0 4.G70 . ?0> =54<, *r'<)Aoo
J V6=
5L6 U J6 ?rK; V ;M= T/ &MK* 9J 9V= '6p U< BJV= ;'M=L 7V4E /JBJ B V9
K/K6 /JBJ= &MK*= 9p9KB/ 7P9q9/qL ;JVA U< K46 }K>V/ J' K=EJV&6 UA
K46}K>= '6p 74 K5 J> :J/J U9J6JA 9p/L/ /JBJ= 7P.q A;VE= ;'M=L
9G ;BJ#q :J/J 9G ,B 9J eb9/qL ;'M=L <K4 3JV
= W4K6 "VC= A;J6H
/V9 ?/q 3JV U< <K4 U J6 7K/JV6= U J6 ?rK; !J4p ?@p A=9=JVB=
AMV<JV"= 7K=9V/q U J6 6"4 3q 7J V/ K5 J=L B6 /JBJ B V> BJ /JBJ=
;'M=L= AV AG<My B V9O
<K4 U J6 7J 9EvZ ?rK; V
AV 6Mp6 %J= K4V6= 9G U J6
7J 9EvZ ?rK; V
AV 6Mp6 7IJ% K4V6= 9JFAK= &MK* ;M=
=J BE /JBJ B V> </4M= Alj9 /JBJ= &MK* =^ B 9J= 7PV9q
/JBJV &MK*= ;'M=L 74J6 K=V/ B V9O
87
. ?0>
5<0 *=0G2<(
O . ?0>0 =,G23 49f<Aoo K9@E 39J 7AV= 7K=7e]L U J6 K &M 6J

3JK V>
5pJVE ;'M=L 9K>V/ 5J=J
;'M=L 9K>V/ U< 3q =J
B EJV& /JBJ 9G K6;gK>K!/ 7J 6J}K> BJ= eb:Mqy B V9 <3JH
K6VEJV"= ?/q U;J/JV9 7V4E U J6 U9J6JA 39J 6p U J6
K/K=y 7JK=?rK;
! &MK* 9 39J K5 J> V;q= '6p 7V4E U J6 7JK=?rK;
" U J6 J4J>V/= JV4? 39J 7{VE= ;V5p U J6 U=JVE4J4 9J
K6uK= 5LV6 7V4E U J6 7JK=?rK;
# %J N=L= 9AJ6 BJ &IJ*J K,A%J'q 7AJ=. 74/pJ" 9A=
9=!Jvb 39J 6p U< :JV9 B 6J U 6 = J=V. U J6 %NKy
9J
J V6= 5L6 7V4E U J6 3q 9G
$ U> 8 39J AJ;KE 9=!JVvb= J=V. 7V4E U J6 3qO
O . ?0> *=0G2<G(0 '<=7$SAoo 7V/p ;JK> /F /Tq K6<My 7V/p
?rK; V
J V6= 5L6 7K=V?J5 K=V/ B V9 =R7 A > ;'M=L 7K=V?J5
K=9J= '6p 4JEL 3JK V96H
/V9 ?/q 3JV U< K+ J4J= /Tq K6<My U J6 ?rK;V = U{ 9p/L/ 6pJ6p
A > ?rK;V = U{V U J6 7K/JV6= 75J6 K69qJBL ;q /qJ 9p9v]J7
39J
BJ= /iJ95J6 K6EeV.= '6p ;JK>V = K6 * 4JEL 6p U J6 9pKy y=R7
7K=V?JV5= '6p 4JEL 3JK V96H
JV=J ?/q 3JV U< K+ J4J= /qS K6<My U J6 ?rK;V = ;'M=L y K+ J4J=
/qS 7K=V?J5 6J =J B V> UA U{V 7K/JV6= ;JK>
/qS y ?rK;V =
;'M=L 7K=V?J5 =J B V9 <JBJ K+ J4JV== K6 * B V/ A;e2E =J B V9O
O . ?0> <1 =\L=0 0#Aoo
5J=J
= 5L6 ;'M=L 7K=V?JV5=
'6p 4JEL 7V/p 9pKy y=R7 ;'M=L 7K=V?J5 AlV q ;'M=L J> Kv]= K=V96O
U J6 ;'M=L J>
;JVA= V5q B V9 6JO
O . ?0> *=0G2<G(0 4.7Aoo
U J6 ?rK;V = U< ;'M=L J> AlV q
/JBJ= ;'M=L 7V4E BE UA J> U?@ B EJ= 7=9/qL AJ/ ;qK49VA= ;V5p /JBJ=
;'M=L 7K=V?J5 K=V/ B V9O
U< U{V U J6 ?rK;V = %J N=L /JBJ= 9A= "BV.= J=V. 9AJ6
BE 39J ;JK> /qS /JBJ= &J*J K,A%J'q 7AJ=. 9=!Jvb
44
88
39J 6p U J6 J=V. BJ= 9AJ6 =J BE UA U{V y

?rK; V 7V4E A > ;'M=L /JBJ= %J N=L 9AJV6= /JK=! B V/
7=9/qL AJ/ ;qK49VA= ;V5p 7K=V?J5 K=V/ B V9O
A > ;'M=L ;qK49VA 7K=V?J5 K=V/ B V9O
O *r =1$ .?'Z< &,< <G0w> F)< $X<=' t<0< . ?0> *=0G2<(Aoo A >
;'M=L 7%K>/ ;M4rJ JV=L U6J* 39J 9pJGV = U%V = ;J5pV; 7K=V?J5 K=V/
B V9O
O . ?0> 5 G$ $Y) F/< X =,37<='Aoo
J 6 J=J 6MV;JK4/
/qV6= U{ 9p/L/ 6p U J6 U{V U J6 ?rK;V = ;'M=L B V/ K &M /q6 =J
<J V9 6JO
U 9>;J
J V6= K95J6 6M<JEL U J6 ?rK;V = ;'M=L B V/
/q6 =J <J V9 9G y=R7 /q6 U 9>;J K6;gK>K!/ 7 JV==
B V9 <3JH
5J=J
= 5L6 JV=JK7/ 'K=;J6J
! /q9p JV' 66MV;JK4/ 6M7Kv]K/= '6p /q6
" U J6 ?rK;V = UB8J'V/ 74 ;JK>V = U J6 ;J>J;JV>= {K/ 9J
U>J AJ6 39J K/K6 U< V3q= '6p KBAJ9 K4V/ 4JEL UA 3q
K96K= '6p /q6 <K4 y=R7 {K/ 9J K96K= '6p A=JAK= /JBJ=
9VB>J 9J "JK8>K/ 4JEL BE
# ;JK> /qS A=9=JB T/ 9JAv]JV6= '6p /q6
$ %J N=L= 7VEJ'V6 9p9/ IJ%J;J> <e7JK/ 9p/L/ A= J= /qS
6MV;JK4/ 9G ;JK>
/qS A=9=JB T/ AMV<J" AMK95J UA9J=
'6p /q6
% U J6 K"; 9J 'q J4JVE= '6p /q6 39J U J6 K/K=y ;'M=L
74JV6= U{V BJ A;e2VE= '6p /q6
& ?rK; /qS 7V4E JE = 9J94 /q6
' U J6 J4J>V/= JV4V? /q6 39J y=R7 /qV6= JV4?
U4 EJ= {;/J Al6g U J6 /qS7V{= JV4V? /q6
( :K9@p /BK9> J 6
AV6=
6G J 6 7V<J'p
BE
= ; U J6 :K9@p /BK9> 39J JE = J 6
AV6= 6G J 6 AJKE/ U J6 v2L T/ :K9@p /BK9>
39J A= J= /qS
6MV;JK4/ 6p U J6 :K9@p /BK9V>= '6p
%IJ4J /q6 39J BJ B V/ 74 K"; J4JVE= '6p /q6
89
) A= J= /qS 6MV;JK4/ U J6 A;9JE AK;K/V 74JV6= '6p 39J

9JG>JV4? ,J K9:J" 39J A= J=L U J6 9L;J U JlJ6L /qS
AG=K{/ U J6 9L;J vZL;V 74JV6= '6p /q6
* ?rK; "V.= 39J /JBJV4= 7K=9JV== A4Ap"V.= >pJV.= '6p
A= JV== 6MV;J46zV; ;JK>
/qS "K+/ U J6 /BK9> 39J
/F /qS 7.L/ U J6 vZLV;= '6p ?rK; "V.= K>K!/ AloK/V/ %IJ4J
/q6 9G
+ U% 8 7K/V/ KAK9
K6EV6= '6p %JI4J /q6O
O $YG,X )?*=\L=$0 )X . ?0> $Y)Aoo
5J=J
! =
5L6 ;qv]> B V/ 6M7Kv]K/= J=V. U J6 ?rK;V = ;'M=L B V/ /q6 U 9>
/!6 =J <J V9 <!6 /JBJ= K6VEJ" = ?/qJ6M<JEL J' =J= 3J /!6 <K4
K/K6 A;vb A;VE= '6p 39J BJ= U J6 GV?= '6p 6M7Kv]/ 3JV 6O
y=R7 /qV6= 7K=;J. U J6 U{V
6M7Kv]K/= A;VE= '6p
/JBJV 7V4E ;'M=L= 7K=;J. = K5 B V9 6JH
/V9 ?/q 3JV U< A= J= /qS /4 VV?p 7.L/ K9K5 AJV7V{
<K4 4? 9J /V/JK5 ?rK;
V<JV" K96J U6JK*V? 9G <MKyAG"/
J=. 9p/L/ JV' 6M7Kv]/ 3JV 6 /JBJ B V> y 7V/p
?rK;V = K6 * B V/ ;'M=L /qV6= AKB/ 6K5
J* K4V6=
;'M=L <My =J <J V9 <JBJ /JBJ= K6VEJV"= ?/qJ6M<JEL U6JK*V?=
7K=9V/q ;JK> V 7V4E BEO
,X< X<Aoo
5J=J= VV?p U J6 ?rK; U J6 ;qv]> B V/
6M7Kv]/ 9K>EJ ".p B V96 <K4 K/K6 yv]JV6 7Kv]/ B EJ
AVi U J6 9v]J6 5;q#V*= J=V. 39J 6p U J6 V<YKy
J=V. /JBJ= J' K=V/ v2L J= V=6O BJ U*r, K6E6
;q /qJ= U{V 7V<J'p B V9O
O `=$ ,< =,)={0 )X . ?0> $Y)Aoo
5J=J
" = 5L6
U J6 /q6 AGK? ?rK;V = 9VB>J 9J "JK8>K/= J=V. #K*/ ;JK>V = {K/
9J K96K= 7K=;J. V7{J U9?L B V9 6J 9G y=R7 U J6 /q6 =J <J V9 6J
</{. 7<qeb 6J y /qV6= K9=^V 6pJE K9%JV== 6LK/ 6MA=. K=EJ <3J<3
/4Veb= ;J5pV; y ?rK; V U4J@L AJ9pvb =J BEO
y=R7 A > /q6 9G BJ= A > J4JE K9K5 J=J K65qJK=/
U=K'JV= ;'M=L 7K=V?JV5= 4JKEV/i K6<My 9pKy /qS K>K79
K=V/ B V9O
45
90
O F4,< *r'<G)0 )X . ?0> $Y)Aoo 5J=J

# 9G $ =
5L6 U J6 ?rK;V = ;'M=L B V/ U J6 /q6 =J <J V9 6J <K4 6J A=9=JB T/
9JAv]J6 AMV<J" AMK95J 9J UA9J K6VEJV"= ?/q 6MAJV= 39J 6p:JV9 AGK?
?rK;
/qS "SBL/ BE 9G y=R7 U J6 /q6 U J6 9v]JE A=9=JB T/
9JAv]J6 AMV<J" AMK95J 9J UA9J= ;PV>p= K5 B V9 6J 9G 48J $ = 5L6
/qV6= U{V BJ A= J= /qS JV=JK7/ ?/q AJV7V{ B V9O
O Y ,< = r. <'<G70 )X . ?0> $Y)Aoo 5J=J
% =
5L6 A > /q6 K6;gK>K!/ ?/qJ5LV6 B V9 <3JH
%J N=L =^ B 9J= 7PV9q 74 . 9J K"; J4JE 9J94 /q6 K*
7P.q ;'M=L JV>= '6p 7K=V?J5 T/ 73; ;'M=L B V/ =J B V9 K e\ 6M=R7 U J6
/q6 ;. !=V%= '6p 74 . 9J K"V;= U{V =J <J V9 6JO
! K'q/ BE 6J ;6 U J6 ;'M=L 9J94 74 . 9J K"; BJ K
7K=;JV. U4 EJ <J V9 9G / K KvbV/ J4JE =J <J V9
/FAl2V A= J= /qS 7.L/ U J6 U J6 K9K5 AJV7V{ K65qJK=/
B V9O
O . ?0> 5 G$ )X<)X $Y)Aoo 5J=J
)
* 9G +
= 5L6 ;'M=L B V/ A > /q6 A= J= /qS JV=JK7/ ?/q AJV7V{ B V9O
O .D$ 2Z=.G 0 *=0G2<=($ . ?0> *=0G2<(Aoo
5pJVE=
6pJ6p K95J6 AJV7V{ U J6 ?rK; V ;'M=L KBAJV9 7V4E A > 3q /JBJ=
;S/Mp'K6/ J=V. 39J /JBJ= U J6 U!IJ' 6J 7J EJ= J=V. <K4 7K=V?J5 =J 6J
<JE /JBJ B V>
K9K5 6M<JEL /4 VV?p AGK? ?rK;
/qS ;V6J6L/ U J6
9pKyV 74J6 =J B V9
! y=R7 U J6 ;V6J6L/ 9pKy 6J 3JK V> 39J U J6 J=V. y=R7
U J6 ;V6J6L/ 9pKyV BJ 74J6 =J 6J U"V> ?r; J4J>V/ ';J
K4V/ B V9 9G y J4J>/ K9K5 6M<JEL /FAlV q 9p9v]J "B.
K=V9O
U< U{V 7 5J=J
= K95J6 6M<JEL U J6 ?rK; V ;'M=L
KBAJV9 7V4E A > 3q ;JK>
/qS AGK? ?rK;V = ;V6J6L/
9pKyV 74J6 =J B EJV& 39J ?r; J4J>V/ ';J U4 EJ
B EJV& UA U{V y ;'M=L 74J6 AlV q ;JK> /JBJ= 4JKE/i
B V/ ;My B V96O
91
O . ?0> 5 G$ $Y) ,< . ?0> =,1GU% *=0G2<G(0 <0G# =l$ '<,>Aoo

U< U{V
J V6= K95JV6= U!>J7 U J6 ?rK;V = ;'M=L B V/ U J6 /q6
=J BE 39J U J6 ?rK;V = ;'M=L 7K=V?J5 =J 6J BE 39J /JBJ= ;'M=L K G9J
U J6 K9K5= J /JE 7V4E "J%N K* 9J :K9@p /BK9V>= 7J7p 7K=V?JV5 K9>l2 #V*
UA U{V K/K6 39J /JBJ= ;S/Mp B V> /JBJ= U J6 =JK5 J=L 39J U J6
J 6A/ 7K/K6K5 /Tq ;'M=L U8=/ 7J EJ= '6p 39J 9V EJ 9J K9>Kl2/
;'M=L
6pJ6p 7J 6J J4JVE= '6p ?r; J4J>V/ 4=!Jvb K=V/ 7JK=V96O
y=R7 4=!Jvb AGK? ?rK; U< v]JV6 J' K=V/6 39J U<
v]JV6 /JBJV ;'M=L 7K=V?J5 =J B / UA v]J6 U< ?r; J4J>V/=
!K/EJ=J5L6 UA ?r; J4J>V/ ;'M=L /qV6= /JK=! B V/ 39J
U{;/ ;'M=L 7V4E B EJ= /JK=! B V/ 9JV=J ;JVA= ;V5p U7?
K=V/ B V9H
/V9 ?/q 3JV U< y=R7 U J6 4=!Jvb y A;VE= 7V= U7?
=J <J V9 <K4 4=!Jvb J=L ?r; J4J>/V
;V;q Ae\ K=V/
7JV=6 U< y A;VE= ;V5p 4=!Jvb 4JK!> 6J =J= K7&V6 /JBJ=
<V3 J=. K&>O
?r; J4J>/ 7 5J=J
= 5L6 U J6 4=!Jvb 7JK= 7= BJ=
7= 4=!Jvb J=L 9G ;JK>
39J ;'M=L 7K=V?JV5= '6p
5pJVE= K95J6 6M<JEL 4JEL 6p U J6 9pKyV
6J6L= '6p
<MKyAG"/ AMV<J" 4J6 K=V9 9G 7VEJ'6LE AJ{p 7;J. "B.
K=V9 9G U< ;'M=L /q6 =J B EJV& 9J U< ;'M=L 7K=V?J5 =J
BE 6J 9J 7K=V?JU5 K9>l2 =J B V/V& BJ 4=!Jvb J=LV
7K=V?J5 K=9J= '6p ;JK> 9J ;'M=L 7K=V?JV5= '6p 4JEL y
9pKyV K6V4q? K4V/ 7JK=V9O
7 5J=J
= 5L6 U J6 JV4?
J V6= 5L6 y ;JK>
9J ;'M=L 7K=V?JV5= '6p 4JEL 9pKy= K9=RV "B.LE U J6
?JKvb;P> 9p9v]J= BJK6 K=V9 6JO
?r; J4J>/ 7 5J=J
= 5L6 74 K6V4qV?= A;E ;'M=L=
?/ =J 7IK%? :J" {K/7P=. KBAJV9 4=!Jvb J=LV 74JV6= '6p
;JK> 9J ;'M=L 7K=V?JV5= '6p 4JEL 9pKyV K6V4q? K4V/ 7JK=V9O
;'M=L 7K=V?JV5 K9>Vl2= U{V 7 5J=J
= 5L6 {K/7P=.
74JV6= '6p U J6 K6V4q? U4 EJ <J V9 6J <K4 ?r; J4J>/
;V;q Ae\ BE U< y K9>Vl2= J=. K&>
46
92
?rK; V 7V4E ;'M=L= 7K=;J. AlV q 7 T/ :M> 9J 7 T/ K9V=J5

! U J6 '=^=L 9v]J 39J K9V?@ 7K=Kv]K/= J=V. ;'M=L 7K=V?JV5=
'6p 4JEL 9pKy /qS /JBJ= <MKyAG"/ U%J AVi <3JA;VE BJ
74J6 K=V/ {;/J 39J
" ;'M=L "BV. 39J BJ= '6p 4=!Jvb K=V/ ?rK;V = 9p3q/JO
5J=J= 5L6 U J6 4=!Jvb 6J6L JV> <K4 ?r; J4J>/
;V;q
Ae\ BE U< y 4=!Jvb K9V@ 7AP/ 39J K9=Ky = /JBJ B V>
J4J>/ 4=!Jvb J=LV 6K5 4M ?/ *J J 7<qeb 'K=;J6J K=V/
7JK=V9 9G BJ ;JK> 9J ;'M=L 7K=V?JV5= '6p 4JEL 9pKyV
74J6 K=9J= K6V4q? K4V/ 7JK=V9O
O (<0<
0 (>) '0 <G\O0 F`Gm F < Y =+4Aoo
5J=J
= 5L6 U J6 4=!JVvb= '6p 4=!Jvb J=LV A;6 'J=L= K8A 9p/L/ J= U J6
U J*q K8A K4V/ B V9 6JO
U< U{V 4=!Jvb J=L ;J;>JE A8> B6 UA U{V ?r; J4J>/
4=!JvbK* <K4 3q J4JVE= '6p U J6 U4 EJ6L J4J>V/ 4JK!> T/
J=K' B / /JBJ B V> BJ= '6p UJ= '6p 7V4E 9K>EJ KBAJ9 K=V9 9G ;JK>
9J 5J=J
= 5L6 ;'M=L 7K=V?JV5= '6p 4JEL 9pKyV y 3q
74JV6= '6p K6V4q? K4V9O
7 5J=J
= 5L6 7V4E 3q <K4 ?r; J4J>/ /qS K65qJK=/
A;VE= ;V5p J4JE =J 6J BE /JBJ B V> BJ A= J=L 7J7p
KBAJV9 J4JEV<J"p B V9O
O . ?0> *r<x 5) )< &,< . ?0> =$Y$ 5 7<G
0C* 2Z=. G'0 *G`
'<,> <'<G70 )X = .<m '0 <\OAoo
;'M=L 7J B6 6J 39J ;'M=L
K/q/ B EJV& =R7 ?rK; V4= 7V{ eb:qMy A > 39J JK5 ?rK;V = 7V{
5J=J
= 5L6 ;J K* 4=!Jvb 4JK!> =J <J V9 9G =R7 U{V 5J=J
= 5L6 U J6 {K/7P=. 7V4E B V9O
?r; J4J>/ 5J=J
= 5L6 4JK!> T/ ;'M=L 7J B6 6J
=R7 ?rK; 4>:My JK5 ?rK; /qS 4JK!> T/ v2/e 4=!Jvb
A;PBV
K* 4=!Jvb KBAJV9 ".p K=V/ 7JK=V9 9G /46M<JEL
}K> V
4=!Jvb KBAJV9 K6uK K=V/ 7JK=V9 9G UAV{V
7 5J=J
= K95J6 7V<J'p B V9O
5J=J= 7VEJ'V6 ;'M=L 7J B6 6J =R7 ?rK; 4> =
93
eb:Mqy 9K>EJ A;vb ?rK; V 9M(J V9 <JBJ=J

7K/JV6
%J N=L=/ JV&6 9G <JBJV4= 6J4JEL ;'M=L 39J K9>Kl2/ ;'M=L
;'M=L JV>= '6p B EJ 3JV O
O <*>1Aoo
5J=J
= 5L6 74 ?r; J4J>V/= U J6
JV4V?= K9=^V BJ 74JV6= /JK=! B V/ K? K4V6= ;V5p *rJ 9Mp6JV> J7L>
=J <J V9O
7 5J=J
<JBJ 3J N 6J U 6 ?r; J4J>V/= y JV4V?
7V4E ;'M=L 9J {K/7P=V.= 7K=;J. <K4
BJ'J= *J J= K5 6J
BE /JBJ B V> ;JK> 9J ;'M=L 7K=V?JV5= '6p 4JEL U J6 9pKy
y JV4V?= K9=^V U J6 J7L> K=V/ 7JK=V96 6J 9G <K4
U;J* 4J9L T/ ;'M=L 7IJ%?/ *J J= V5hq 6J BE /JBJ B V> U J6
?rK; 9J /JBJ= ;S/Mp= 7= /JBJ= U J6 =JK5 J=L 39J
J 6AG"/ 7K/K6K5 y JV4V?= K9=RV U J6 J7L> K=V/
7JK=V96 6JO
;JK> 9J ;'M=L 7K=V?JV5= '6p 4JEL U J6 9pKy /qS U J6
J7L> =J <J V9 6J <K4 6J J7LV>= voJ=V = AV ?r; J4J>/
/qS 74
;V;q K* 7/pE6 7 AG<My 3JV U< J7L> J=L
U< 3q 74JV6= JV4V?= K9=RV J7L> K=V/V&6 UA 3q ?r;
J4J>V/ ';J K4EJV&6O
5J=J= 5L6 J7LV>= U{ 9p/L/ 6p A > U{V 5J=J
= 5L6 ?r; J4J>/ /qS 74 A > JV4? %PCJeb B V9O
/J;J4L J 6
AV6= 6G J 6 = 5J=J
=
K95J6
5J=J= 5L6 J7LV>= U{V 7V<J'p B V9O
O .<=1 ,< . ?0> *=0G2<G(0 )X '<7> )X F <) ,X=^0 4U=k0
2$Y<(>) F_< Aoo
U< U{V U/
39J
! 5J=J
= 5L6 U J6 ?rK;
/qS
J7L> U7? =J= 7=
*rJ 9Mp6J>
;V;q Ae\ BE U< ;JK>V = 39J 5J=J
= 5L6 ;'M=L
7K=V?JV5= '6p 4JEL 6p U J6 9pKy= 5J=J
9J 5J=J
=
5L6 74JV6= '6p JV4? T/ U J6 3q 7K=V?J5 CJ 9J= AljJ96J
JV& /JBJ B V> y J4J>/ 9J U{;/ *rJ 9Mp6J> y ;JK>
47
94
<'2 (X<7
9J 9pKyV
6J6L= AMV<J" 4J6 K=EJ y JV4? T/ 3q
7K=V?JV5= '6p /JBJ= AlK UzJ K=V/ 7JK=V9H
/V9 ?/q 3JV U< K9>Vl2= J=V. V?p 9p3q B EJ= AljJ96J
3JK V> y J4J>/ 9J *rJ 9Mp6J> 6J6L= AMV<J" U4 EJ= 7PV9q
y=R7 UzJV = JV4? K4V/ 7JK=V9H
JV=J ?/q 3JV U< y J4J>/ 9J *rJ 9Mp6JV>= K9V9%6JE U<
7K=;J. AlK UzJ JV4? T/ 3q J4JVE= '6p <V3 B V9 U<
7K=;J. AlK UzJ =J B V9O
K9%JV== 7PV9q AlK UzJ Al qLE U4 EJ6L J<q K9K5 = A >
K95J6 7 5J=J
= 5L6 UzJV = U{V 7V<J'p B V9O
O =$*7 F`Gm .<=1G 0 =) 5 G$ &Y <'<7AooU< U{V 5J=J
= 5L6 ;'M=L 7K=V?JV5= '6p 4JEL 6p U J6 9pKy= K6 * B V/ ?r; J4J>/
/F /qS 9J *rJ 9Mp6J> /qS
JV4? T/ U J6 3q J4JE K=V/ {; BE UA
U{V y J4J>/ BJ ;JK>V = K6 * B V/ J4JE K=V/ 7JK=V9O
95
. ?0> F,<!Y
O =).R$. . ?0> F,<!Y *r=$|<Aoo
A= J= K6;g/; ;'M=L U9J,q 6JV;
K* U9J,q 7K/J K=V9O
K6;g/; ;'M=L U9J,q /H7=
5pJVE ;'M=L U9J,q 9K>EJ
K>K!/ K6;g=R7 A4Ap A;e2VE "K+/ B V9 <3JH
U%EJ=;pJ6
!
'6 K6=V7{ A4Ap
" ;JK> "V.= 7K/K6K5/i J=L '6 A4Ap 9G
# ?rK; "V.= 7K/K6K5/i J=L '6 A4ApO
5J=J
K>K!/ 4JKE/i 7J>V6= 7VEJ'V6 ;'M=L U9JV,q
K6;gK>K!/ A4ApE eb:Mqy B V96 <3JH
AGK? K?V= ;JK> "V.= 7K/K6K5/i J=L '6 A4Ap
! AGK? K?V K6<My ?rK; "V.= 7K/K6K5/i J=L '6 A4ApO
;'M=L U9JV,q= U%EJ=;pJ6
6pJ6p A4Ap". A= J= /qS K6<My
B V96O
;'M=L U9JV,q= U%EJ=;pJ6 K6=V7{ A4Ap ;6 9pKy"V.= ;5p
B V/ K6<My B V96 <JBJV4= K? ?rK;
U4V?= JK3q
9v]J
AlV q 7<qJ J6 JV& 9G <JBJ=J U J6 K?V= AKB/ AGK?
6VB6 39J U J6 ?rK; 9J ;JK> "V.= U*r, K6EV6= AKB/
AG<My 6VB6O
A= JV== ;V/ U< A > 7K/J6 ;JK> "V.= 7K/K6K5/i J=L 9G
UA A > 7K/J6 ?rK; "V.= 7K/K6K5/i J=L UA A > 7K/JV6=
U J6 ;V6J6E6 3JK V> BJ K9V9%6J K=EJ 7 5J=J
9J
= 5L6 ;JK> 9G ?rK; "V.= 7K/K6K5/i J=L A4Ap".V K6<My
=J B V9H
/V9 ?/q 3JV U< <K4
JK5 7V%JE ;JK> K G9J ?rK;
7K/K6K5= ;V6J6E6 6J 7J EJ <JE /JBJ B V> A= J= K6'
K9V9%6JE <JBJV 7<My ;V6 K=V9 /JBJV ;JK> K G9J ?rK;
7K/K6K5/i J=L A4Ap KBAJV9 K6<My K=V/ 7JK=V9O
O =$*7 2Z=.G 0 )X =).R$. . ?0> 5<G00 4?*<=02Aoo
U< U{V
U J6 K?V K6<My ?rK; "V.= K9=J';J6 ;'M=L BJV== 7K=V7K{V/ A= J=
;V;q
48
96
K:;/ U7J@. V= U< y K?V K6<My A > 9J U< U J6 U?r.L= ?rK;V = K6;g/;
;'M=L BJ= Kv]= =J 7VEJ'6 9G <MKyAG"/ UA U{V A= J= ;'M=L U9J,qV
7VEJ'6LE /4ebJVeb y ?rK; ". 9J ?rK; U?r.L= '6p K6;g/; ;'M=L BJ= AM7JK=?
=J= '6p K6V4q? K4V/ 7JK=V9O
,X< X<Ao U J6 K?V= ;JK> K G9J ?rK; 7{ 39J :E 7V{= 4JK!> T/
JV946zV; A= J= UA K?V K6<My ?rK;V = 6Mp6/; ;'M=L= BJ= K65qJ=V.=
K9@EK* K9V9%6J K=V/ 7JK=V9O
;'M=L U9J,q y=R7 K6V4q? 7JK= &E ;JVA= ;V5p A= JV== K6 *
BJ= AM7JK=? U7? K=V9H
/V9 ?/q 3JV U< ;'M=L U9JV,q= 6MV=JV5 A= J= y U;EJ4 9SK
K=V/ 7JK=V9O
7 5J=J
= K6V4q? U;J/JV9 ;'M=L U9J,q U J6 U"V,= A >
?rK; U?r.L= '6p K6;g/; ;'M=L BJV== AM7JK=? K=V/ 7JK=V9 9G
y=R7 AM7JK=V?
U;EJ4L J' 9G K+ J JV'= '6p K6;g/; ;'M=L= BJ= 9G
! K+ J JV' K6<My ?rK; "V.= '6p K6;g/; U;EJ4L BJ= =
AMK6K4q:JV9 V>! K=V/ 7JK=V9O
;'M=L U9J,q /qS AM7JK=? T/ U;EJ4L BJ= #J W4K6 AJJKB 9J
;JKA K:KV/ B V/ 7JK=V9O
;'M=L U9J,q BJ= AM7JK=V? K6;g/; ;'M=L= BJ= A;" U4V?= '6p
:JV9 "B. =J K%/ B V9 6J K
BJV/ K>K!/ v]JV6
BJV/ 9K.q/ v]J6LE 9pK/z; AB JV= "B. =J K%/ B V9 BJ
K6V4q? K=V9O
U J6 K?V K6<My ?rK;V = '6p Kv]= T/ 6Mp6/; ;'M=L= BJ=
A= JV== K6V4q?zV; 7K/ 7JI% 9&= eb= 7M6HK65qJ=. K=V9O
O =).R$. . ?0> 5<0 F <3#< 0<0 `.$<Aoo
5J=J
= 5L6
;'M=L U9JV,q= AM7JK=? 7J B 9J= 7= A= J= A= J=L U"V'V* 7J76 J=J
U#J@.J K=V/ 7JK=V9 U< ;'M=L U9J,q /qS K9K:6g ?rK;V = '6p AM7JK=? T/
K6;g/; ;'M=L= BJ= 7J7V6 K>K!/ 9pK/z; AJV7V{ y=R7 ?rK; "V.=
'6p K6;g/; ;'M=L= BJ= B V9O
<K4 A= J= ;V6 V= U< y=R7 AM7JK=? U J6 9pJ7JV=
;JK> "V.= 9J ?rK; "V.= '6p 6pJEA/ 6VB /JBJ B V> A= J=
AM7JK=? 7JK= K? K4V6= ;V5p BJ 7M6=JE K9V9%6J K=EJ
97
U4K!9J= '6p ;'M=L U9JV,q= K6 * U8=/ 7J+J V/ 7JK=V9 9G

y=R7 U8=/ 7J+J 9J= A;E A= J= K%/ K9V9%6J K=V>
AM7JK=V?= 7= BJ= U J6 ;eb9p 9G /FAlV q U J6 /3p
74J6 K=V/ 7JK=V9O
U< U{V U J6 AM7JK=? 7 5J=J
= 5L6 ;'M=L U9JV,q= K6 *
U8=/ 7J+JV6J BE UA U{V ;'M=L U9J,q A= JV== ;eb9p
/F /qS U7K=/ /3p K9V9%6J K=EJ BJ= AM7JK=? 7M6=JE
7<qJV>J%6J K=EJ U4K!V9 9G 7VEJ'6 B V> J= /4eb
7K=%J>6J K=V9 9G /F7= A= JV== K6 *
K* AGV?JK5/
AM7JK=? U7? K=V9 39J <K4 U9JV,q= K9V9%6JE AM7JK=V?= U J6
AGV?J56 9J 7K=9/qV6= 7VEJ'6 6J 3JV /JBJ B V> J=. K99S/
K=EJ UA ;V;q A= J=V 9KB/ K=V9O
7 5J=J
= 5L6 AM7JK=? 7J B 9J= 7= A= J= A= J=L
U"V'V* 7J76 J=J U#J@.J K=V/ 7JK=V9 U< ;'M=L U9J,q /qS
y 7 5J=J= 5L6 AM7JK=? T/ K9K:6g ?rK; "V.= K6;g/; ;'M=L=
BJ= 7J7V6 K>K!/ AGV?J56
9pK/z; AJV7V{ y
?rK; "V.= '6p K6;g/; ;'M=L= BJ= B V9O
7 5J=J
= 5L6 7J7V6 <K4 /4AlV q U J6 /JK=!
V>! 6J 3JV /JBJ B V> BJ= 5L6 U#J@.JK* BJ 7 JK?/
B 9J= /JK=! B V/ J<q = B V9O
U< U{V 7 5J=J
39J
= 5L6 U J6 7J76 7 JK?/
B 9J= 7= 39J BJ= 5L6 U#JK@/ U J6 K6;g/; ;'M=L= BJ=
J<q = B 9J= 7= BJ A= JV== 6'V= JVA U< y=R7 U#JK@/
K6;g/; ;'M=L= BJV= U J6 ^K* JV& UA U{V A= J= K9@EK* ;'M=L
U9JV,q= K6 * U7=. K=V/ 7JK=V9 9G y=R7 U7=. 7 5J=J
= 5L6 U7=. 9K>EJ ".p B V9O
5J=J= 5L6 U#JK@/ K6;g/; ;'M=L= BJ= %PCJeb B V9 9G
/FAlV q U J6:JV9 U J6 J4J>V/ 9J U J6 /Tq7V{= K6 * 7?g
=J 9J J7K J76 =J <J V9 6JO
O 4?*<=02 *r#7G) =,G, X =,37Aoo U J6 AM7JK=? 7.E6 =J JV> ;'M=L
U9J,q 'L96 <J76 9pE 'L96 <J7V6= ;J6 F7J46 !=% F7J46?L>/J
F7JK4/ 4rV9p= ;P>p ;M4rJv8LK/ JV'= 5=. (IMK
;J6 9p9AJKE AJ;3qp
U4V?= 9G AGK? >J J= J3q AJ;JK'
9v]J 9G 6pJ6p 7JAK K9@E
49
98
K9V9%6J K=EJ U4K!V9O

O =).R$. . ?0> 5<G00 */Y<7_=. */Y<G1< )<Aoo
5J=J
K>K!/ K9@EJK4 9J 6p U J6 7JAK K9@VE= U J6 7K=9/qV6= J=V. 7VEJ'6
B V> ;'M=L U9J,q BJ= U J6 AM7JK=? 7M6=JE 7<qJV>J%6J K=EJ U4K!V9 9G
A= JV== K6 * 5J=J
= 5L6 U#JK@/ K6;g/; ;'M=L BJV== U J6 AGV?J56
9J 7K=9/q6 AM7JK=? K=V9H
/V9 ?/q 3JV UJ%6J =J <J V9 6JO
5J=J= 5L6 U J6 7<qJV>J%6J 9G AM7JK=? 5J=J
= 5L6
/4eb 9G AM7JK=? 9K>EJ K9V9K%/ B V9 9G
5pJVE= K95J6
</4P= Alj9 U{V 7V<J'p B V9O
O 49,<'*m 2Z=. G#0 . ?0> F,<!Y )Aoo
A= J= 7VEJ'6 ;V6
K=V> A= J=L U"V'V* 7J76 J=J AG9J47 ?rK; "V.= ;'M=L K65qJ=V.= '6p
AG9J47 ?rK; ;'M=L U9J,q 6JV; K* v2/e ;'M=L U9J,q "+6 K=V/ 7JK=V9O
y U9J,q /H7=
5pJVE AG9J47 ;'M=L U9J,q 9K>EJ
K>K!/ A= J= /qS K6VEJK'/
'6 U%EJ=;pJ6 9G
AG9J47 7K/JV6= ;JK>
AG9J47 ?rK; "V.=
7K/K6K5/i J=L A;AG!p A4Ap A;e2VE "K+/ B V9O
O 49,<' *m 2Z=. G#0 )X . ?0> =)(Y<0#Aoo
AG9J47
?rK; "V.= '6p ;'M=L K65qJ=. JV> AG9J47 ;'M=L U9J,q 'L96 <JJ= 9pE
A= J= V7qJV=?6 9G 9pKy;JK> J6J5L6 7K/JV6= A;/N>p %J N=L= ;'M=L=
K9=J';J6 BJ= U4V?= K9K:6g >J J= AG9J47 K?V= 9v]J 9G U9JV,q=
K9V9%6JE 7JAK 6pJ6p 9v]J K9V9%6J K=EJ U4K!V9O
AG9J47 ;'M=L U9J,q U;EJ4L J' K+ J JV'= '6p ;'M=L= BJ=
;'M=L K65qJ=. =J= 7= AG9J47 ;'M=L U9J,q BJ= KAJeb </?L#r
Alj9 A= JV== K6 * U7=. K=V9O
O 49,<'*m . ?0> F,<G!Y0 =4s<PO *r <2Aoo
A= J= AG9J47
;'M=L U9JV,q= KAJeb 7=L{J K=EJ U4K!V9 9G BJ 7JK= K/6 ;JVA= ;V5p
/F /qS 7VEJ'6LE K9V9K%/ =R7 AGV?J56AB BJ A= J=L U"V'V* 7J76 J=J
7 J? K=V9O
7 5J=J
= 5L6 7 JK?/ y=R7 AGV?J56AB AG9J47
99
;'M=L U9JV,q= KAJeb y 7J7V6 K>K!/ /JK=! B V/ 39J

y=R7 U J6 /JK=! 6J 3JK V> BJ 7 JV?= /JK=! B V/ J<q =
B V9O
O 49,<'*m . ?0> F,<G!Y0 PO,Y$>Y . ?0> =)(Y<0G#0 `.$<Aoo
AG9J47 ;'M=L U9J,q U J6 U{V 7VEJ'6 ;V6 K=V> A= J=L U"V'V* 7J76
J=J eb9q/Lq ;'M=L= BJ= K65qJ=. K=V/ 7JK=V9O
y=R7 U J6 eb9q/Lq ;'M=L= BJ= AG9J47 7K/JV6= A >
;JK>V = '6p 9?p 7J>6LE B V9 9G 7V/p AG9J47 ?rK;
6Mp6 y=R7 eb9q/Lq BJV= ;'M=L 7J 9J= K5 J=L B V96O
y=R7 U J6 eb9q/Lq ;'M=L= BJ= 5J=J
= 5L6
AG9J47 ;'M=L U9JV,q= KAJeb J<q = 6J B EJ 7<qeb 9>9F
3JK V9O
O 2Z. <'<1G$ '0 <\OAoo U< U{V 5J=J
= 5L6 7 JK?/
AGV?J56AB AG9J47 ;'M=L U9JV,q= U J6 KAJVeb= J=V. U J6 AG9J47 9J
AG9J47 7K/JV6= U?r.L K96pJA 9J 7M6K9q6pJA AlV q U J6 K9V=J5 U4!J U4E UA
U{V y=R7 KAJVeb= J=J AG{N U J6 9pKy K9V=J5K* K6uK= '6p ?r;
J4J>V/ 4=!Jvb K=V/ 7JK=V96O
O =).R$. . ?0> *rG$X .<=1G 0 *0 ,2X *<1)>7Aoo 5J=J
=
5L6 U#JK@/ 39J 5J=J
= 5L6 7 JK?/ ;'M=L= K6;g/; BJ= AGK?
A > ;JK>V = 7= 9?p 7J>6LE B V9 9G 7V/p ?rK; y=R7 U#JK@/ 9J
7 JK?/ ;'M=L= 6Mp6 BJV= ;'M=L 7J V/ K5 J=L B V96O
O =).R$. . ?0> 5<G00 . 5<G0 . ?0> *r'<) =)=3sAoo
U J6 ;JK>
U J6 ?rK; V
5pJVE= 5L6 U#JK@/ 9J 7 JK?/ K6;g/; BJV== ; BJV=
U J6 ;'M=L 74J6 K=V/ 7JK=V96 6JO
7 5J=J
= U J6 K &M U J6:JV9 U J6 ?rK;V =
5pJVE=
5L6 U#JK@/ 9J 7 JK?/ K6;g/; BJV== K5 BJV= ;'M=L 39J
6p U J6 AMV<J" AMK95J 9pJB/:JV9 7J 9J= K5 J= {N6g K=V9
6J <K4 U J6 %NKy 9J U=JVE4JV4= 5L6 9J 6p U J6 J=V. K/K6
y=R7 K5 BJV= ;'M=L 7J 9J= 39J U J6 73J 6M<JEL y=R7
AMV<J" AMK95J 7J 9J= K5 J=L B6O
50
100
t<'2 (X<7
'? Y )< =)$ <0G#
A= J= A= J=L U"V'V* 7J76 J=J /T/LE /8KAV> K>K!/

%J N=L= AKB/ 6p U J6 7 JV== %J M=L U<J" K=V/ 7JK=V9 9G
=R7 U{V y %J N=L AlK q/ K9V?@ U7?J'K6/ 9pJK5 K B V9
/JBJ AMK6K4q:JV9 V>! K=V9 9G /F7= 7 5J=J
=
K95J6 =R7:JV9 7V<J'p B V9 U<6
5pJE J=J y 9pJK5 y
%J N=L AlV q K9V?@ U7?J 'K6/ 9pJK5 9K>EJ U#JK@/ B EJV&O
7 5J=J
9G
= U{ 9p/L/ 6p U{V U J6 9pJK5
AlV q U J6 ?rK; V U J6 {K/7P=. 7V4E B V9 6J <K4 6J y
9pJK5 7/p{:JV9 AGK? ?rK;V = %J N=L %>J JV> BJ B V/ djP/
U J6 4M#q*6JE '!V;= J=V. BEO
G.0 )X `=$*B0#
O `=$*B0# *r'<G)0 )X .<=1G 0 '<=7$SAoo

%J N=L %>J JV> BJ
B V/ djP/ 4M#q*6J= 8V> <K4 U J6 ?rK; ?=LV= '!;7J B6 /JBJ B V> ;JK>
/JBJV
5pJVE= K95J6 6M<JEL {K/7P=. K4V/ 9J5p 3JK V96O
U J6 ;JK> y=R7 {K/7P=. 74JV6 9J5p 3JK V96 6J <K4
'!V;= 8V> K/6 K4V6= K5 A;E U J6 ?rK; AlP.q 9J GK?
;q{;/J 6J BJ=J6
! '!V;= 8V> ;J=J <J6 6J =R7 U J6 ?rK;V = 4M#q*6JE '!; 7J
B EJ= 7/p{ J=. K&>
4M#q*6J= A;E ?rK;V = ;4p7J6 9J ;J4 4r9p UA9V6= 8V>
BJ= 7:J9J5L6 3J J
?rK; "V.= K6=J7J K6K/ =J= '6p 7.L/ K9K5 9J AMu
JV4? ?rK; /qS _&J T/:JV9 ;J6p =J
?rK; "V.= K6=J7J K6K/ =J= '6p 9p9v]J =J B EJV& BJ
'J6J AVi ?rK; /qS _&J T/:JV9 U J6 J#J/ K6V=J5
K6=J7J A=J; 9J 6p U J6 U Y?> 7AJ=. =J 9J V7{J
=JO
<K4
/T/LE /8KAV>= GV? 9K.q/ U J6 %J N=LV/ K6<My U J6 ?rK;
BJV/ y=R7 %J N=L AlK q/ K9V?@ U7?J'K6/ 9pJK5 9K>EJ
K>K!/ U J6 9pJK5V/ JzJeb B6 39J
! U J6 ?rK; K9K_&6g:JV9 U J6 ;JK>V = 5L6 6Mp6 &E ;JA /T/LE
/8KAV>= ! !V 9K.q/ U J6 %J N=LV/ K6<My 3J J JV> y
/8KAV> y=R7 %J N=L AlV q K9V?@ U7?J'K6/ 9pJK5 9K>EJ
K>K!/ U J6 9pJK5V/ JzJeb B6 /JBJ B V> y=R7 9pJK5V/
JzJeb B EJ
5J=J= 5L6 U J6 4M#q*6J= 8V> '!; 9K>EJ ".p
B V9 9G <K4 6J ;JK> BJ= K97=L/ K &M 7;J. V=6 4M#q*6JK*
%J N=L %>J JV> BJ B V/ djP/ 9K>EJ ".p B V9O
,X< X<Aoo
7 5J=J= 7VEJ'V6 U J6 %J N=L J> K9K_&6g
9K>EJ ".p B V9 <K4 BJ= AKB/ 6p U J6 ;JK>V = 5L6
7 J= U J6 %J N=L <My 6J 3JV O
101
!JV6 K>K!/ U J6 K &M U J6 ?rK;V = '!; AlV q U J6

{K/7P=. 7J EJ= K5 J= 74J6 =J B EJV& 9K>EJ 9M(J V9 6J <K4
K/K6 ;JK>V = 39J 6p U J6 9pKy= K9=^V y '!V;=
{K/7P=V.= '6p U4 EJ6L J4J>V/ U J6 U;J ;J 4JVE= K=EJ
3JV 6O
U J6 J4J>V/ y '!; AlV q ?rK;
/qS U J6 {K/7P=.
;J;>J 4JVE= =J <J V9 6J <K4
K/K6 ?r; J4J>V/ y '!V;= '6p {K/7P=V.= 4J9L K=EJ 4=!Jvb
U7? K=EJ 3JV 6 39J
! /JBJ= 9G /JBJ= ;JK>V = ;V5p
5pJVE= K95J6 6M<JEL y
'!; AlV q {K/7P=. 74JV6= '6p U J6 %NKy B EJ 3JV O
5pJVE= VV?p ?rK; 9K>V/ ;JK> /qS A=JAK= 39J
K+ J4J= /qS K6<My ;6 9pKyV 9M(J V9 K<K6
U=> VE J 6
AV6= 6G J 6 = 5J=J
=
AGJ 6M<JEL
'6 U=> ;q%J=L K<K6 U=> VE= U J6
7?JAK6 U'>J 9J 7 V'>J K8VA U J6 v]JEL 7V4 K6<My 6VB6
9G %/N3q /8KAV> K>K!/ U J6 7V4 K6<My 6VB6 39J
! %/N3q /8KAV> K>K!/ U J6 7V4 K6<My U J6 9pKy
/JBJ= %J N=L= %NKy K>K!/ B 9J K>K!/ B
v B 9J
v B
9G U J6 '!; 7J ?rK;V = V>V!= U{V K/K6
;J=J U"V> /JBJ= 7= K6:q=?L> 9pKy". 39J /JBJV4= UEJ ".p B V9O
O `=$*B0G#0 *=0.<#Aoo
5pJVE= K95J6 AJV7V{ {K/7P=V.=
7K=;J. B V9 K6;g=R7 <3JH
U< U{V '!V;= 8V> ;S/Mp BE UA U{V AGK? ?rK; K* 7;
/8KAV>= K/LE >JV; U< 3q V>! =J B EJV& UA 3q
! U< U{V '!V;= 8V> vJ]EL AlP.q {;/J #V* UA U{V
<K4 AGK? ?rK; K* 7J 9EvZ B6 /JBJ B V> 7;
/8KAV>= /T/LE >JV; U< 3q V>! =J B EJV& UA 3q
9G
<K4 AGK? ?rK; K* 7J9EvZ B6 /JBJ B V> 4? BJ'J=
*J J
" U< U{V '!V;= 8V> v]JEL JGK? {;/J #V* UA U{V
'!;K* 73; /8KAV> 9K.q/ B V> v]JEL AlP.q {;/J=
U{V 7V4E {K/7P=. =
?/ =J BJ= <JBJ BJV/
K>K!/ y '!V;= J=V. 7J'q6 {;/J BJK6= ?/ =J
BJV== A;J6
'!;K* 73; /8KAV> 9K.q/ 6J B V> v]JEL AlP.q {;/J=
U{V 7V4E {K/7P=V.= ?/ =J BJ= <JBJ y '!V;=
J=V. v]JEL:JV9 7J'q6 {;/J BJK6= 6M7JV/= A;J6 9G
# U< U{V '!V;= 8V> AlP.q 9J JGK?
v]JEL {;/J #V* UA
U{V ;JKA {K/7P=. <JBJ {;/J= /JK=! B V/ %J= K46
V7{J J> K/9JKB/ B 9J= 7= U< ;JVA 7V4E B V9 BJ=
7=9/Lq ;JVA= 73; K4V6 7V4E B V9 9G /F7= {;/J= A;E
JV> 39J 7; /8KAV>= U?@ >JV; K>K!/ A;VE= '6p
<JBJ v2 B V9 ;JKA K:KV/ 7V4E B V9O
U< U{V
4M#q*6J= J=V. JK5 '!; BE UA U{V 7
5J=J
" = 5L6 /FAlV q 7V4E {K/7P=.
K/ =J
B V9 K e\ U J6 U{V BJ ;6 :JV9 =J B V9 6J <JBJV/ BJ
'!; }K> B V/ v]JEL AlP.q {;/J #K*V> U< {K/7P=. 7V4E
B / BJ B V/ U9?L BEO
103
U J6 ;JKA {K/7P=. 7V4E B EJ= /JK=V!= 7PV9q <K4 {;/J=

9AJ6 BE /JBJ B V> y ;JA AlV q 7V4E {K/7P=V.= 3q y
;JVA= {;/J 3J J J>L6 A;VE= J6M7JK/ BJV= 7V4E B V9O
O . ?0> =54<G,0 *s=$Aoo
5pJVE= 7VEJ'V6 ;JKA ;'M=L
9K>V/
;JVA= JV'= '6p 7V4E 9K>EJ ".p ;'M=L= 7K=;J. 9M(J V9 BJ
;JKA K:KV/ 7V4E B
39J 6p A;VE= K:KV/ 7V4E B
39J K+ J
BJV= B O
y=R7 ;'M=L K6;g=R7 :JV9 KBAJ9 =J B V9 <3JH
U< U{V 4M#q*6J= 9p9KB/ 7PV9q {K/7P=. 74JV6 9J5p U J6
;JK>V = 5L6 AGK? ?rK; K* K9K_&6g:JV9 6Mp6 9JV=J ;JA
;q=/ K&V>6 UA U{V /JBJ= ;JKA ;'M=L B V9 /JBJ= 7P9q9/Lq
9JV=J ;JVA y ;JK> /qS 7V4E U;J* ;'M=L=
J4?JG?
! U< U{V AGK? ?rK; K* y=R7 ;JK>V = 5L6 4M#q*6J=
9p9KB/ 7PV9q K9K_&6g:JV9
;JVA= ; A;E ;q=/ K&V>6 UA
U{V /JBJ= ;JKA ;'M=L B V9 4M#q*6J= 9p9KB/ 7P9q9/Lq 9JV=J
;JA A;VE
;JK>V = 5L6 /JBJ= ;/ 6M=R7 JV' K6VEJK'/
6p U J6 ?rK;
39J y=R7 6p U J6 ?rK; 6J 3JK V>
>J JE 6M=R7 JV' K6VEJK'/ 6p U J6 ?rK;V = K'q/ JVE=
;JKA "VC= A;J6 3q
" 6pJ6p U{V ;JKA ;'M=L B V9
{K/7P=. 74JV6 9J5p ;JK> B V/ 4M#q*6J= 9p9KB/ 7PV9q
K9K%&6g:JV9 ;q=/ 3J J J>L6 A;VE AGK? ?rK; /Tq K'q/
U;J* ;'M=LV K? }. K=EJ y ;q=/ A;VE= U;J* K46}K>=
J=J BJV :J" K=V> U< :J"8> 7J EJ <JE BJ= A;7K=;J.
3qO
,X< X<Ao
5J=J= 7VEJ'V6 U J6 ;q=/ A;E K9K_&6g 9K>EJ
".p B V9 <K4 U%Y K4V6= K5
J> JV' 6M7Kv]K/= J=V.
BJ= 5J=J9JKB /J : 6J BEO
O *B)=,YG, )<Aoo
5pJVE= 5L6 7V4E U J6 ;JKA {K/7P=.
BJ 7{ VE= ;V5p %NKy= 5L6 B
39J ?r; J4J>V/= JV4V?= 5L6 B
?r; J4J>/ /qS 7P6K9qV9%6J =J <J V9 <K4
?rK;V = 9v]J= 7K=9/q6 B EJV&
;V;q U=K'J,q K%K FA
/Tq 7r4 7/pE67AB ;JK>
39J ?rK;
/Tq 4=!Jvb =J
52
104
BE 39J
y=R7 7/pE67 &JCJ 7/J=.J= ;J5pV; 39J X95 7:J9
39J 6pJ6p AG"/ 7JVE= ;J5pV; {K/7P=. K65qJ=. =J
B EJV& 39J U= ,q B V/ AMv U4!J <JE U< y=R7 K65qJ=.
:M>
;V;q ;JK> 39J ?rK; /qS 4=!Jvb =J BEO
5pJVE= K95J6 AJV7V{
5J=J= 5L6 7M6K9qV9%6J= K:KV/
U J6 ;JKA {K/7P=6 %J>M =J!J <J V9 9SK =J <J V9 ;JV6J
<J V9 39J 9 =J <J V9 39J <K4 U4!J <JE U< 4M#q*6J=
J=V. v]JEL {;/J #K*EJV& /JBJ B V> 7V4E ;JKA {K/7P=.
?rK;V = 7J7p/J 6M<JEL U3J V3q =R7JebK=/ =J <J V9 /V9 BJ
B V/ ;JKA {K/7P=. 9J94 K/;V5p 7J 3q 9J4 <J V9O
O .<=4 `=$*B0# F&< &Y t<0< *=0G2<(Aoo
:E 7V{= %NKy=
K:KV/ ;JK> U3J 3q 74J6 K=EJ ?rK; V 7V4E ;JKA {K/7P=. 7K=V?J5
K=V/ 7JK=V96O
<K4 y=R7 U J6 %NKy 6J BE 9G 6Mp6 &E ;JA U J6 ;JKA
{K/7P=. 74J6 9>9F 3JV /JBJ B V> U/ /qS K65qJK=/ U3J
3q 74J6 K=EJ
;JKA {K/7P=. 7K=V?J5 =J <J V9O
O `=$*B0# ,Q )Aoo
'!V;= 8V> ;S/ U J6 ?rK; AlV q 7V4E
U J6 {K/7P=. 9G J 6"/ {;/J= 5L6 U J6 9pKyV {K/7P=. 9J94
7V4E U3J 3q ?r; J4J>V/ ';J U4 EJ 9p/L/ K:6g U J6 7e]JE 7K=V?J5 =J
<J V9 6JO
7 5J=J
K>K!/ U J6 {K/7P=. <K4 ;JK> A=JAK=:JV9
7K=V?J5 K=EJ 3JV 6 /JBJ B V> BJ {K/7M=. 7K=V?J5 9K>EJ
".p B V9 6J <K4 6J AGK? ?rK; /JBJ= %J N=L JV> K9K5J=J
K65qJK=/ 7e]JE '!;'K6/ J=V. /JBJ= ;S/Np= U{V {K/7P=.
"BV.= '6p /JBJ= U J6 =JK5 J=LV ;V6J6L/ K=EJ 3JV 6
9G UA ;V6J6L/ =JK5 J=LV {K/7P=. 74 B EJ 3JV O
7 5J=J
<JBJ 3J N 6J U 6 U J6 ;S/ ?rK;V = U{V
/JBJ= U J6 U7J@pV ;JK> {K/7P=. 9J94 K"; 3q 74J6
K=V/ 7K=V96 9G ?r; J4J>/ y U7J@pV 7V4E {K/7P=.
B V/ y K"; /q6 K=EJ BJ ;JK> V U8=/ K4V9O
{K/7P=. 9J94 7V4E 6p U J6 3q BJ 7J EJ= K5 J=L 9pKy=
7V{ ?r; J4J>V/ ';J =J <J V9O

?r; J4J>/ /qS 74 =K?4 BJV/ ';J T/ {K/7P=. AlV q
<V3 4JE ;MKy B V9O
7 5J=J
= 5L6 U J6 ;S/ ?rK; AlV q {K/7P=. 9J94
U J6 3q ';J B V> ?r; J4J>/ 7VEJ'6V9JV5 /F /Tq K9V9K%/
7<My 7e]JE U6JK*? 7 J? K=EJ 39J 7V/p U7JV@p= 7=
BJ 'J=L K=EJ {K/7P=. 9f*6 K65Jq=V.= '6p /F /qS K65qJK=/
/JK=V! BJ= AloMV! BJK'= B EJ= '6p /JBJK4"V K6V4q? K4V/
7JK=V9O
<K4 ?r; J4J>/ /F /qS 7VEJ'6LE U J6 /4eb A;J76JVeb
;V;q AeMb BE U J4J>/
';J= /JK=! B V/ 6Mp6 4M 9FA= 7= BJ= K6 * ';J 9Kf*/
3q ?rK; "V.= >pJV.= '6p A= J= /qS A= J=L U"V'V*
7J76 J=J K6K4q 39J v]JK7/ U J6 /BK9V> BvbJeb= K=V9O
;JK> 4=!Jvb K=V> ?r; J4J>/ /F /Tq 9f*6 T/ V3q= K*
K9vbJK=/ 9.q6J /JBJV A=9=JB K=V9O
U J6 ;S/ ?rK; AlV q ';J T/ {K/7P=. 7 5J=J
= 5L6
/q6 AJV7V{ ;S/ ?rK;V = U7J@p"V.= ;V5p 39J /JBJV4=
JBJ= ;V5p ;6 6M7JV/ 9f*6 =J B V9 <JBJ ?r; J4J>/
7<My K9V9%6J K=V9 39J J4J>/ K6' K9V9%6JE UV/ ';J T/ U J6 {K/7P=. U J6 9pKyV 7V4E
BE UA U{V ?r; J4J>/ U< 9pKyV BJ 7V4E K/K6 <K4 U J6
J 6"/ {;/J= 5L6 6J B6 /JBJ B V> /JBJV 74J6 K=V9
9G 6pJ6p U{V K<K6 BJ 7J EJ= K5 J=L /JBJV 74J6
K=V/ 7JK=V9O
U< U{V J4J>V/ ';J T/ U J6 U3J
3q J 6"/ {;/J=
5L6 U J6 9pKyV 7V4E BE UA U{V y 3q y 9pKy=
7 J=JV3q /JBJ= {;/J J>L6 A;VE ?r; J4J>V/= K6V4q?
U;J/JV9 K9K6VEJ" 9J 9p9BJ= =J <J V9O
U< U{V J 6"/ {;/J= 5L6 U J6 9pKyV
5q ;JKA
{K/7P=. 7V4E BE UA U{V J4J>/ v2 _&JE 39J U J6
4=!JVvb= 7K=V7K{V/ y {K/7P=. /JBJ= {;/J J>L6 A;VE
105
53
106
AGK? ?rK;V = U J6 U7J@pV

39J J4J>V/= K9V9%6JE y
?rK;V = >pJ. 9p9v]J =J= '6p A9V%VE 7<My 9K>EJ K9V9K%/
6p U J6 9pKyV 74J6 =J= '6p JV4? K4V/ 7JK=V9O
U< U{V U J6 4=!JVvb= 7K=V7K{V/ 39J 6p:JV9 ?r; J4J>/
;V;q AeMb BE UJ= J=V. 39J U J6 U7JV@p= 7K=Kv]K/= 7K=9/qV6=
J=V. 39J 6p U J6 7<Jq J=V. {K/7P=. KBAJV9 7K=V?JK5/
U J6 3q 9f*6 AlV q ?r; J4J>V/= U J6 JV4? 39J y=R7
U J6 U7J@pV 7V4E {K/7P=V.= K9K6VEJ" 9J 9p9BJ= AlK q/
BJ= U J6 JV4? 7K=9/q6 =J K%/ /JBJ B V> J4J>/ BJ=
y JV4? 7K=9/q6 =J= '6p 9v]J= 7K=V7K{V/ U<=R7 6P/6
JV4? U4 EJ 7VEJ'6 UA=R7 JV4? K4V/ 7K=V9H
/V9 ?/q 3JV U< <K4 y=R7 U J6 JV4? U J6 9pKy= '6p
BJK6 = BE /JBJ B V> /JBJV
y JV4V?= K9=^V J=.
4?JqV6J= AMV<J" 6J K4EJ 39J U J6 U{V <K4 y JV4V?= 8V>
U J6 U7J@p /Tq /JBJV 7K=V?JK5/ U J6 {K/7P=. U8=/
U4 EJ= 7VEJ'6 BE /JBJ B V> y=R7 U J6 JV4? 74J6 =J
<J V9 6JO
U< U{V ?r; J4J>/ 7 5J=J
= 5L6 U J6 JV4?
J=V. 7K=9/q6 V= U
K=EJV&6 UA U{V y 7K=V?JK5/ {K/7P=. /JBJ= K6 * B V/
5J=J
= K95J6 6M<JEL @M> =J <J V9O
O `=$*B0G#0 5\O<PO0 F_< ,< '<7,s 0# =)=3sAoo
5pJVE U<
= ; K95J6 JV& UA = ; 9p/L/
5pJVE= 5L6 7V4E U J6 U3J
39J
;JKA {K/7P=. U J6:JV9 BvbJeb= UzJ
39J 4JE9 =J <J V9 6J 39J
U J6 J V6= 7VEJ" J=J ?rK; 9p/L/ 6p U J6 9pKy= K6 * BvbJeb= =J <J V9
6J 39J BJ= AKB/ 6p U J6 4J9L J*J JK* =J <J V9 6JO
O F)<= 2 '<,>Aoo
U J6 ?r; J4J>/ {K/7P=V.= U J6 4J9L
K9V9%6JE JK6V9 6J <K4 6J 4M#q*6J #K*9J= 7= </?L# Alj9 /4K6V;g 9K.q/
7K/V/ /FAlV q U6JK*? 74J6 =J BE 9G <K4 6J 4M#q*6J #K*9J= 4M 9FAV==
;V5p 39J ;S/Mp= U{V BJ= 4M 9FAV== ;V5p 4J9L J76 =J BEO
U< U{V 4M#q*6JK* B V/V& 5J=J
= K95J6 7V<J'p BE
107
;6 U J6 U=JV"= Jz;. UA U{V 4M#q*6JK* y U=J" J=J

{;/J= J=V. ?rK;V = K9K_&6g 6M7Kv]K/= 73; /JK=V!
#K*EJV& 9K>EJ ".p B V9O
U J6 U6JK*V?= U J6 ^K* 9J K6E; 39J BJ 74J6 6J =J=
J=V. U J6 4J9L K9V9%6J= V<J"p B V9 6J
<K4 JK7/ 4J9L ;6 U J6 4M#q*6J= 8V> ?rK;V = ;S/Mp'K6/
J=V. BE U< 4M#q*6JK*
;JK>V = 9JCL#= 9J JGK"6JE #V* 9J
;6 U J6 'JE"JE #V* U<!JV6 ?rK; ;JK> 9J /F /qS
K6VEJK'/ 6p 9pKy= K6EeV. J' K=V/ K&V>6 9G
?rK; K* y 9JCL#= 9J JL6JE 9J v]JV6 ;J=J <J6 39J y
9JCL#= 9J JGK"6J 9J v]JV6= AK6gKB/ >J J /pJV"= 7PV9q
;J=J <J6 39J
! <K4 ;JK> 39J '!;7J ?rK; K* ;JK>V = U< 9p9AJ 9J 9JK.V'p
K6VEJK'/ K&V>6 BJ= 9p9v]J76J= '6p ;JK>V = K6 * 4JEL U J6
9pKy 6p U J6 AP B V/ 4M#q*6JK* #K*9J= A;VE 39J BJ=
J&J JK& A;VE /FAlV q 9KB/ B EJK&V>6O
7V=Jy 7 5J=J 6M<JEL <3JA;VE U J6 U6JK*? 74J6 39J 4J9L
J76 6J =J AVi ?r; J4J>/ {K/7P=V.= U J6 4J9L
K9V9%6JE JK6V/ 9G /FAlV q KAJeb K4V/ 7JK=V9 <K4 BJ
;
V
;
q
AebM BE U< U6JK*? 74J6 6J =J= 9J 4J9L J76 6J =J= <V3
J=. K&>O
y=R7 7V/p U6JK*V? '!;7J 9pKy= 6J; 9G K+ J6J U4 EJ
B V9 9G AB' :J@JE '!V;= J=. 4M#q*6J= /JK=! 9.q6J =J
B V9 9G BJ ;JK>V = 7= 39J '!;7J ?rK; K* ;JK>V =
U< 9p9AJ 9JK.V'p K6VEJK'/ K&V>6 BJ= 9p9v]J76J= '6p ;JK>V =
K6 * 4JEL U J6 9pKy= 7= 'J=L =J B V9O
5J=J= 5L6 U J6 U6JK*? <JBJ= 7= BJ 'J=L K=V/ B V9
/JBJ= 9JAJE 39J K8VA 39J 9p9AJ= v]JV6 BvbJeb= K=EJ 39J
U=K'Krr ,J V<JV" U7=. K=EJ 'J=L =J B V9 39J U< U{V
U J6 U6JK*? 9 AG=K{/ BE UAV{V y 9 VE K>K79 K=EJ
'J=L =J <J V9O
54
108
O .<0<$V '? Y )< 4UG Y .<=1G 0 =)

5 G$ =,,D=$ $1G,0
`.$<Aoo U< U{V U J6 ?r; J4J>/ U J6 AP B V/
!9= 7JE UJ JV> BJ B V/ djM/ U J6 4M#q*6J= J=V. ;J=J K"EJV&6
UA U{V J4J>/ U=K'Kr ,J V<JV" U7K=/ U6JK*? J=J AGK? ?rK;V =
;JK> V U6JK*? 'J=L= K? K4V6= ;V5p K9K5 J=J K65qJK=/ 8=V; BJ= K6 *
K* K99SK/ U7? K=9J= '6p K6V4q? K4V9 <JBJV/ ?rK;V = ;S/Mp= J=.
/FAlK q/ 7K=Kv]K/ 9G ;JK>V = ;V/ y ;S/Mp= J=V. K/K6 U J6 {K/7P=.
';J K4V/ 9J5p K 6J /FAlV q 9.q6J 3JK V9O
<K4 ;JK>
;/ U7J@. V=6 U< K/K6 {K/7P=. ';J K4V/ 9J5p
/JBJ B V> U6JK*? 'J=L= K? K4V6= ;V5p K/K6 /JBJ ';J K4V96O
<K4 ;JK>
;/ U7J@. V=6 U< K/K6 U J6 {K/7P=. 74JV6
9J5p 6VB6 /JBJ B V> K/K6 /JBJ= K99SK/V/ BJ= J=. V>!
K=V96O
U< U{V ;JK>
y=R7:JV9 /JBJ= 4JKE/i v2L J= V=6 UA
U{V ?r; J4J>/ BJ= K9V9%6JE 7VEJ'6LE /4Veb= 7= ;S/
?rK;V = U/ BJ= K9V9%6JE 7VEJ'6LE 6p
U J6 /3p /JBJK4"V K4V/ 7JK=V9O
O .<0<$V '? Y )<0 =0G*< YAoo U< U{V J7J//H 9>9F U J6 J V6=
J=J U J6 ;JK>V = 9JCL#= 9J JGK"6JE #K*/ U J6 4M#q*6JE ;S/Mp AlV q U J6
/qS7{V U6JK*? U4 EJ 7VEJ'6 UA U{V ;JK> 39J /JBJ= 7V{ 6p U B
y=R7 ;S/Mp= AJ/ K4V6= ;V5p ;S/Np= J=. 7JK=7JK?nq 9v]J 9.q6J K=EJ ?r;
J4J>V/ K* K=V7J*q U7=. K=V96O
O = = 84< *0>`<Aoo
U< U{V U J6 ?rK; U J6 4M#q*6J= U6JK*?
74J6 V=6 UA U{V ;JK> U6JK*? 'J=L= K/6 K4V6= ;V5p K96J !=V% U J6
U=K'J,q K%K FA J=J ?rK; V 7=L{J =J V96 9G y ?rK;
y=R7
7=L{J= '6p K6V'V BJK'= K=V96H
/V9 ?/q 3JV U< ?rK;V = 4M#q*6J 9J AMv]/J }=^/= B V> ?rK; U<!JV6
9v]J6 K=V/V&6 ;JK> UA!JV6 /JBJV 7=L{J =J 9J= 9p9v]J K=V96O
5pJVE= 5L6 U J6 ?rK; ;JKA {K/7P=. 7J V/ 3JK V>
<K4 K/K6 K6V4qK?/ B6 /JBJ B V> A;E A;E y=R7 7=L{J= '6p
K6V'V BJK'= K=V96O
U< U{V K96J !=V% U J6 ?rK; V y=R7 U J6 7=L{J 6J =J BE
109
UA U{V K/K6 K6' V4pJV" U J6 U=K'J,q K%K FA J=J

7=LK{/ B V/ 7JK=V96 9G /FAlK q/ !=% ;JK> /JBJV
7K=V?J5 K=V/ 9J5p 3JK V96O
5pJVE= 5L6 7.L/ K9K5 U;J/JV9 9p/L/ 39J K9K5 J=J
K65qJK=/ K46 9p/L/ 7 5J=J
39J
= 5L6 U J6
K%K FAJ 7=L{J= '6p U J6 ?rK; V BJK'= B EJ= K6V4q? U4 EJ
<J V9 6JO
<K4 U J6 ?rK; 7 5J=J
39J
= 5L6 ;JK> /qS
K6V4qK?/ 39J ?r; J4J>/ /qS U J6 A;VE K6V4qK?/ B EJ
AVi K%K FAJ 7=L{J= '6p K/K6 U J6 U=K'J,q K%K FAV =
K6 * K6V'V BJK'= K=V/ v2L J= V=6 39J 6p U J6:JV9
BJV/ 9J5J 74J6 V=6 /JBJ B V> y v2L TK/ 9J 9J5J
U4 EJ JV> /JBJ= {K/7P=. 7J EJ= K5 J= AJ;KE :JV9 v]K"/
3JK V9 <K4 6J v2L TK/= U{V K6V'V
y=R7 BJK'= =J=
9pJ7JV= K/K6 7<qJ J=. J=J 9J5J7J B EJ 3JV 6O
<K4 U J6 ?rK; 7 5J=J
39J
= 5L6 U< K65qJK=/
A;VE= ;V5p K%K FAJ 7=L{J= '6p /JBJV BJK'= B EJ= 3J
A;E K/zJeb B 9J= 7PV9q v2 _&JE y=R7:JV9 7=LK{/ 6J B EJ
/JBJ= ;qv]V>= >J J /pJ" K=EJ %K>EJ <J6 /JBJ B V> K/K6
K8K=EJ 6J JAJ 7<qeb 39J K6V'V y=R7 7=L{J= '6p BJK'= 6J
=J 7<qeb /JBJ= {K/7P=. 7J EJ= K5 J= AJ;KE :JV9 v]K"/
3JK V9O
7 5J=J
= 5L6 {K/7P=. 7J EJ= K5 J= v]K"/
B EJV& =R7 U J6 ?rK; <K4 y U J6 7 5J=J= 5L6 K6V4qK?/
U J6 K%K FAJ 7=L{J= '6p K6V'V BJK'= 6J =J JV> ;J=J <J6
/JBJ B V> ?r; J4J>/ 7<My ;V6 K=V> ;S/ ?rK;V =
U7J@p".V {K/7P=V.= 3q 7K=V?J5 K=9J= '6p K6V4q? K4V/
7JK=V9O
U< U{V 7 5J=J
39J
= 5L6 U J6 {K/7P=.
7J EJ= K5 J= v]K"/ BE UA U{V v]K"/ JV>= '6p U J6
{K/7P=. 7V4E B V9 6J 9G <K4 5J=J
!
K>K!/
V7{J J> 9AJ6 B 9J= 7PV9q y v]K"/ J> =^ BE /JBJ B V>
V7{J J> v]K"/ JV>= J=J 9SK7J B V9O
U< U{V ;JK>
/Tq U J6 U=K'J,q K%K FA J=J U J6
55
110
'!;7J ?rK;V = K96J !=V% K%K FAJ =J 9J= 7vbJ9 U4 EJ AVi

y ?rK; /JBJ "B. K=V/ v2L J= V=6 39J y=R7 7vbJ9
"BV.= 7= _&J T/:JV9 y K%K FAV = K6V4q? V7{J V=6
9G <K4 BJ 7;JK./ BE U< ?rK; K* BJ= 7= U J6 U=K'J,q
K%K FA J=J K6EK;/:JV9 K%K FAL/ B6 6J 39J K%K FAL/
B EJ JV> _&J T/:JV9 K%K FAV = K6V4q? 6MA=. K=V/ 9p3q
B EJV&6 9G y=R7 v2L SK/ 9VB>J 39J 9p3q/J 9v]J=
7K=V7K{V/ V<YKy K&> 9G BJ= 8V> '!V;= 96K/ #V*
UA U{V '!;K* 9G BJ B V/ v {;/J ?rK; K* U=K'J,q
K%K FA J=J K6EK;/:JV9 K%K FAL/ B EJ /JBJ= K6V4q?;/ %K>V>
U< 7 TK/= B / 9G U< A;E 7<qeb 3JK / BJ UA 7 SK/= 9G
UA A;E 7<qeb %K>V/V& 9K>EJ ".p B V9 9G U J6 {K/7P=.
7V4E B V> BJ /4J6M<JEL 74 B V9O
U< U{V U J6 ;JK>
39J '!;7J ?rK; U J6 U=K'J,q
K%K FA
/Tq 74 K%K FAJ 7=L{J= K=V7JV*q AebM 6J B6 UA
U{V K/K6 K9@EK* 7M6=JE 7=L{J =J= '6p U;K,V > V>V'=
6Mp6 ABV<J"L 5pJ7V = ;<Jq4J Al6g U J6 K%K FAJ K9V?@V=
K6 * U7=. K=V/ 7JK=V96 9G
7 J= 7=L{J= '6p U< !=%
B V9 BJ ;JK> 9J U{;/ ?rK; 9B6 K=V96O
O @=^0 F`Gm `=$*B0#Aoo
U< U{V U J6 ;JK> /JBJ= 9p9AJ 9J
9JK.'p %>J JV> 39J BJ= 7VEJ'V6 AJ5J=./H /JBJ= 9p9AJ 9JK.V'p= G?
=R7 U J6 J' 9J BJ= G? K9V?@ AlJ46 =J= '6p 6p U J6 9pKy=
/H7=
5J=JE K+ J4J= 9K>EJ K>K!/ AKB/ %NKy V=6 UA U{V y
;JK> U J6 ?rK; A=JAK= /JBJ= J=J K6<My B V> /JBJV U< {K/7P=. 74J6
K=V/ 9J5p 3JK V/6 y J<q AlJ4V6= '6p K+ J4J= /Tq K6<My ?rK; V
K/K6 6M=R7 {K/7P=. K4V/ 9J5p 3JK V96 9G U< U{V ;JK>V = K6 * B V/
U J6 {K/7P=. 4J9L =J BE UA U{V {K/7P=. K6.qVE= '6p K+ J4JV== K6 *
B V/ 7J ;'M=L J;V> J6J B V9O
U< U{V U J6 ;JK>
5J=J= 5L6 U J6 {K/7P=. K4V/ 9J5p
B6 UA U{V ?rK; <K4 K+ J4JV== 9J 6p U J6 9pKy= K6 *
B V/ y {K/7P=. J4JE K=V/ 7JK=V/6 /JBJ B V> y ;JK>
K+ J4J= 9J y 9pKy= K6 * B V/ BJ= '6p {K/7M=. 7J V/
K5 J=L B V96 9G U<V{V K+ J4J= K6V'
'6 ;JK> 9G
111
{K/7P=. K4V/ 9J5p 39J

5J=J= 5L6 y ;JK> V {K/7P=.
K=V/ 9J5p UA U{V /JBJ= AKB/ %NKy9 U J6 K+ J4JV== K6 *
B V/ U J6 ?rK; <K4 {K/7M=. J4JE K=V/ 7JK=V/6 /JBJ
B V> K/K6 y K+ J4JV== K6 * B V/ BJ= '6p {K/7P=. 7J V/
K5 J=L B V96 9G y=R7 K5 J=
{K/7P=V.= 7K=;J.
Al2V A > 7?g %NKy= 9/q;JV6 ?r; J4J>/ /qS K6uK
B V9O
5J=J= U J6 K &M U J6 ?rK;
/qS ;JK>V = 7K=9V/q
K+ J4JV== K6 * B V/ {K/7P=. J4JE =J K69S K=V/V& 9K>EJ
9M(J V9 6JO
;JK>V = J' B V/V& 9J A%=J%= BE 39J ;JK>V = K6EeV. 9J
9p9v]J76JE JV& =R7 U J6 v]J6 9p/L/ 6p U J3J U J6 4M#q*6J
#K*V> UA U{V
5J=J 7V<J'p B V9 6JO
O .<=1G 0 F' =17<$SAoo U< U{V U J6 ;JK>
5pJVE= 5L6
?rK; "V.= 7K/ U J6 4JE AlV q U J6 9L;J J=L= AKB/ %NKy9 B6 UA U{V
;JK> U4 K>EJ B V> 39J 7J 6J4JV== AKB/ U J6 9p9v]J AlV q vZL; 7.E6
K=V> 39J ;JK> <K4 U J6 U JlJ6L BE 9G BJ <K4 }*J EJ U8>J =^ V=
/JBJ B V> y 4JE AlV q 9L;J J=L= K9=^V ;JK>V = K5 J= 6p U J6
J V6 U4 K>EJ/i 39J U JlJ6L }*J EJ U8>J AlV q <JBJ K &M 3J N 6J U 6
?rK;V = K6 * BvbJebK=/ 6pvb B V9 9G y=R7 BvbJebV== 7= 9L;J J=L=
=R7 K5 J= 9G 7K/ JV== 7JE 3JK V9 9G K/K6 ;6 4JE 4JKEV/i= 5L6
3JK V96 U<6 K/K6 ;JK> /V9 ?rK; "V.= 7K/ ;JK>V = U< 4JE BJ B V/
?rK;V = 7K/ 9L;J J=L= 4JE K5 B V9 6JO
<K4 ?rK;V = 7K/ 9L;J J=L= 4JE ;JK>V = 4JE B V/ ; BE /JBJ
B V> U4 K>EJ/i 39J 9AJE6 J<qzV; ?rK; BJ 7;J. K=V/
7JK=V96O
U< U{V 7 5J=J
K>K!/ U J6 U{V 9L;J J=L= AKB/
;JK>V = %MKy
J=V. X95 9J X95 B 9J= U<J"p U< ;JK>
K7K;EJ; J4JVE= K9@E 9p/L/ 6p U J6 K9@VE %NKy= U J6 ?/q
7J>6 V=6 6J UA U{V y 7 5J=J= K95J6 =R7:JV9
7V<J'p B V9 U<6 %NKyK* X95 9J X95V<J"p K&> 6J 9G
9L;J J=L U4 K>EJ/i 9J 9AJE6 J<qzV; ?rK; V 74 3q 7;J.
=J= K5 J=L B V96H
56
112
/V9 ?/q 3JV U<

7 5J=J= K95J6}K> =R7 U J6 U{V
7V<J'p B V9 6J U<!JV6 ?rK; 4M#q*6J AlV q 9G BJ= 8V>
U J6 {;/J AlV q U4 K>EJ/i 9J 9AJE6 J<qz; =^ B EJ
AlV q K/K6 J/ B EJ= </4P= Alj9 7V= 9L;J J=LV U6JK*?
K4V/ 9p3q B EJV&6O
U4 K>EJ -J J J 6
AV6= 6G J 6 = 5J=J
39J U4 K>EJ J 6
AV6= 6G J 6 =
5J=J
9G U JlJ6L J 6
= 5J=J
= 5L6 U<
U46J U4 K>EJ= AlK 9f*V6= U{V 39J }*J EJ U8>J B V/V&
=R7 U J6 U JlJ6L= Al4 9f*V6= U{V 6p U J6 U46J= 7V=
"JK5 J= K:KV/ 7V4E BE
=R7 "JK5 J=7J U46J= AKB/
;6 {K/7P=. U<J" B EJV& 9K>EJ ".p B V9 <JBJ 7K=V?JV5=
4JKE/i U4 K>EJ AJ9pvb B EJ AGzJeb JV4V?= /JK=V!= 7PV9q 39J
U{;/ }*J EJ U8>J J<qz; J=lj B EJ= /JK=V!= 7PV9q djM/
B EJV& 9G
J 6}K> /46M<JEL J<q = B V9O
U< U{V {K/7P=.K* B V/V&
K* ;JKA
3q UA U{V
5J=J= 7VEJ'V6 /FAlV q 7V4E 3q 9K>V/ 5J=J
= 5L6
4=!Jvb =J B V> <K4 y ;JKA 3qV U3J V3q 7K=V?J5 =J
Alj9 B / UA U3J 3q 9K>EJ K9V9K%/ B V9 9G
U3J 3q
AlV q ?r; J4J>V/= 7/pE67
K9@VE %PCJeb 7;J. B V9O
7 5J=J
= 5L6 U< 3q U J6 9L;J J=L 7r;J. =J= K5 J=L
UA V3q= U{V 75J=J
= K95J6 7V<J'p B V9 K e\ 6p3JE
y K95J6
U{V 7V<J'p B V9 6J U<!JV6 U4 K>EJ 9pKyK*
39J }*J EJ U8>J B V/V& =R7 U JlJ6LK* 7 5J=J
U<=R7 K>K!/ JV& UA=R7 U J6 %NKy U J6 9L;J J=L= AKB/
AlJ46 V=O
U J6 U JlJ6L 7M6"qK+/ B EJ= '6p 39J 6p U J6 U JlJ6L=
AKB/ K/ B EJ= '6p Uv2_&JE }*J EJ U8>J= U{V
5J=J=
K95J6 7V<J'p B V9 6JO
O .<~<0 )<=,G 0 F`Gm =,G23 =,(<)Aoo
5pJE
5J=J=
K95J6 AJV7V{ U J6 'JBJV'= ;JJ= 39J 6JK9V = U{V 7V<J'p B V9O
U J6 4M#q*6J= U6JK*? {K/7P=V.= 4J9L U< U{V '!;7J
9pKyK* 'JBJV'= ;JJ= UA U{ 9p/L/ 'JBJV'= ;JJV== 7=
113
'J=L =J B V9 U<6 K/K6 ;JK> K e\ U< U{V 4M#q*6J 'JBJV'

#V* 9G {;/J 'JBJV' =^ BE UA U{V U J6 6JK9V = 7V{
4M#q*6J= U J6 U6JK*? U4 EJ= 7VEJ'6 B V9 6JO
U J6 ;JJ= 39J 6JK9V = ;S/Np= U{V {K/7P=V.= 4J9L 4J9L J=L
/Tq ;S/Mp= !9= 7J EJ= &E ;JVA= ;V5p 39J U< U{V 'JBJ'K*
BJ= A >V K6EJ BJ=J EJ K"EJV& 39J BJ=J EJ K"EJV& 9K>EJ
".p BE UA U{V BJ=J EJ <J EJ= 9J K"EJV& 9K>EJ ".p B EJ=
/JK=! B V/ J+JV=J ;JVA= ;V5p K=V/ B V9O
U< U{V '!;7J ;JJ= 39J 6JK9 V K9V4V? U J3J K,A%J'q
=J BE 39J &JKCEJ JAJ BE UA U{V UA U4V?= U J6 K9%J=
9J ;pJK'Vr* 39J U4V? U J6 6AMp>J= ;q /qJ /qS "SBL/
9G /F /qS A= JV== K6 * U7K=/ U J6 AJ{p U J6 4J9L J4JE
AGzJeb J<qzV; AJ{p KBAJV9 "B.V<J"p B V9 <K4
AJ{pK* y K9%J= ;pJK'Vr* 39J 6AMp>J= ;q /qJ= v2J{=
J=J 7;JK. T/ BE
! K99J4L 39J K:<My 9pKy v2J{LV U'=J K=9J= AMV<J" 7J6 9G
" AJ{pK* U J6 U8Y'4J=L J<qzV; "SBL/ B V> BJ 7;J. =J BE
U< AJ{p K:<My 9pKy= 7Kv]K/V/ "SBL/ B EJK&>
9G U J6 U{V y=R7 AJ{p 4vb!/ K=EJV&6 9K>EJ 4S 9pKy=
4vb!/ 9J 74 ;<qJ4J 7;J. =J= 7VEJ'6 B V9 6J 9G K99J4L
39J K:<My 9pKy AJ{LV U'=J K=9J= AMV<J" 7J EJK&V>6 9G
AJ{p U8Y'4J=L J<qzV;= U{V K:<My 9pKy= 7Kv]K/V/
"SBL/ B EJK&>
;V;q y 9pKy /qS 74 U J6 7/pE67
K:6g=R7 7;JK./ 6J B V> K/K6 y=R7 AMV<J" 7J EJK&V>6 9G
BJ y=RV7 "SBL/ B EJK&> BJ= 7<qJ 7;J. B V9O
9JG>JV4V? 7%K>/ 9JK.K'p 'JBJ' AlK q/ U J6 J V6= 5L6
'JBJV'= ;JK> '!;7J ;JJ= 9G 6JK9V = U J6 A;VE= '6p
U!J=V7J@ 9B6 K=V/ 9J5p B V> A;VE= '6p {K/7P=. 9J94
U J6 ;JKA 3q 7V4E B V9 6JO
9A= :J/J U6Y UA6J K9;J6 9JKB6L 9G 9JK.'p U6Y J 6
= 5L6 7.L/ <M 9A= :J/J 9G J* :J/J 9JK.'p
U6Y /pJK4 vZL;
39J <M 9A= :J/J 9G J* :J/J
:J=/LE 6JK9
/pJK4 vZL;
39J A= J= /Tq 7.L/
57
114
<M 9A= :J/J 9G J* :J/J :J=/LE 6JK9 vZL;

=
5L6 U J6 '!; AlV q "J%N *L :J/J 9J 9A= :J/J= 9p9v]J =J
B V>
5pJVE= 5L6 /FAlV q U J6 {K/7P=. 7V4E B V9
6JO
5pJVE= 5L6 K65JqK=/ A;VE= ;V5p U J6 U6JK*? 74J6 9J
4J9L U7? 9J J<qz; =^ K=V/ 9p3q/J
5pJVE= 5L6 U J6
9pKy"/ '!V;= AlV q U J6 J<qz; %J>M =J= K9@VE 9J5J B V9
6J <K4
7 5J=J
K>K!/ U J6 vZLV;= 5L6 y '!; AlV q
3q 74JV6= '6p 4=!Jvb =J B EJ 3JV
9G
5L6 U J6 J<qzV; U J6 9pKy= {K/7P=. 7K=V?JV5= 4JE 39J U J6 '!;7J

?rK; K 6J 39J {K/7P=V.= 7K=;J. U;EJ4 39J U J6 {;/J= 7 TK/ 9J
7K=;J. AlV q <K4 U J6 7?g JK7/ BE /JBJ B V> 7?gK* U J6 %MKy=
9/q;JV6 ?r; J4J>/ K6uK K=V9O
5pJVE= 5L6 U< 7?g K6uK =J= !K/EJ= ?r; J4J>/V
U4 EJ JV& UA AlV q 39J
5pJVE= 5L6 U J6 4JE 9>9F
=J= 9pJ7JV= U J6 U4 EJ6L J4J>V/= !K/EJ= 3JK V9 6JO
O </Y(<0<0 \L<)Aoo U< U{V
5pJVE= 5L6 U J6 K9@E ?r;
J4J>/ /qS 9J ?r; J4J>/ A;LV7 AlJ46 B EJ= 3J UA U{V BJ
5pJVE= 9G U J6 K9K5= K95J6 AJV7V{ ?r; J4J>/ /qS 9J ?r; J4J>/
A;LV7 AlJK4/ B V9 <JBJ= >J J= ;V5p U< 4M#q*6J= 8V> '!; B EJV& BJ
#K*EJV&H
/V9 ?/q 3JV U< U< U{V ?rK; K* U J6 'JBJV'= ;JJ= 9J 6JK9 UA
U{V 'JBJV'= ;JK> 39J V'f* U< >J JE 9JA V=6 9J 9p9AJ 7K=%J>6J
V=6 UA >J J= 7= !K/EJ= Al6g ?r; J4J>/ /Tq 9J ?r; J4J>/
A;LV7 y=R7 K9@EK* AlJK4/ B V9 O
O '0 <G\O0 2$YAoo
5pJVE= 5L6 U J6 U7J@p /Tq {K/7P=V.=
4=!Jvb 9p/L/ U J6 K9@E K6uK= '6p ?r; J4J>V/ 4=!Jvb =J <J V9 6J <K4
6J :E7{ y U J6 K9@E AlV q K/ U J6 7?g %NKy= ;J5pV; K6uK K=V/
9p3q B6O
O .<0<$V '? Y )<0 F`Gm 2Z. <'<1$ $YD =$=0^ .< $1, 0<0
`.$<Aoo
U< U{V '!V;= 8V> ;S/ U J6 ?rK; AlV q 7V4E {K/7P=.
9J94 U J6 3q ;JK> /Tq ';J U4 EJ B EJV& 9G ?r; J4J>V/= ;V/ y
3q 7<Jq UA U{V y J4J>/ BJ= <MKy V>! 7P9q K>K!/ U6JK*? 'J=L
K=EJ BJV/ K>K!/ A;VE= ;V5p JV=J K5 3q U 6 ';J =J B V9 6J
/FAlV q J=. 4?qJV6J= '6p ;JK> V K6V4q? K4V/ 7JK=V9O
<K4 ;JK> ?r; J4J>V/= AVebJ@ ;/ J=. 74?qV6 9p3q B6 /JBJ
B V> y J4J>/ {K/7P=. 9J94 U;J* 7V4E V3q= 7K=;J.
K65qJ=. K=EJ U=JVE4J4 K4V/ 7JK=V9 9G ;JK> V y 7K=;JV.=
#J*K/ 3q ';J K49J= K6V4q? K4V/ 7JK=V9O
O @=^ F0= =~Z 0#Aoo
U< U{V {K/7P=. 9J94 7V4E U J6 U3J
V3q= 7K=;J. %NKy J=J K65qJK=/ =J BE BJ ;JKA 3q 7K=V?J5 K=EJ B
39J 6p U J6:JV9 B
39J U< U{V y=R7 K65qJK=/ {K/7P=. J 6"/
! A= J=
;V;q 7/pE6 V= U< y 4=!Jvb
<MKyAG"/ K9?nJVA
=J B EJK&> U< '!;K* ;6 U< BJ AlV q U< vZLV;= 5LV6
4=!Jvb =J B EJK&> y vZLV; BJ= '6p 3q 74JV6= 9p9v]J
JV& 9G '!;K* y=R7 U J6 '!; 6VB
J=V. 4=!Jvb!JK6
6J ;M= =J B EJK&> 39J y 4=!JVvb= 7K=V7K{V/ 74 3q
74J6 9 K=EJ U4 EJ B EJK&> 9G
"
5pJVE= 5L6 J<qz; A= JV== y 7/pE67 U4 EJ=
;JVA= ;V5p =^ =J B EJV&O
O `=$*B0# 4UG Y =,,0#>Aoo A= J= A= J=L U"V'V* 7J76 J=J
;V;q K6V4q? K4V/ 7JK=V9 U< ?rK; K6VEJ" J=L 7V/p 9pKy 39J y=R7
9pKy"V.= U J6 U?r.L 7J7V6 K>K!/ /Tq7V{= K6 * BJV/ K>K!/
A;VE 8=V; K* K99=.L U7=. K=V96 <JBJV/ 7P9q9/Lq 9FAV= U< A;vb
'!V;= '6p ;JK>
/qS {K/7P=. 74J6 =J B EJV& BJ= AG!pJ y=R7
{K/7P=V.= 7K=;J. 9G A= J= /Tq K6V4qK?/ {K/7P=. Al2V 6pJ6p K9@E
V>! 3JK V9O
O '<7 .?=^ ,< 1< G,0 @=^ ,<=$1Aoo
J 6 9>9F B EJ= 7PV9q 9J
7V= AlJK4/ U J6 %MKy J=J <K4 U J6 ?rK; /JBJ= %J N=L JV> 39J BJ B V/
djP/ U J6 9pKy"/ '!V;= '6p ;JK>V = K6 * B V/ U J6 {K/7P=. 7J EJ=
K5 J= 7K=/pJ" V=6 /JBJ B V> y %NKy J=J
5pJVE= 5L6 U J6
9pKy= {K/7P=. 7K=V?JV5= 4JE </!JK6 7AJK=/ 39J BsJA =J B V9 //!JK6
7<qeb 9JK/> B V9O
O =$*7 *r2R 2Z. <'<1G$ =)[=k0 )X F*r0#Aoo
5pJVE=
115
58
116
{;/J= 5L6 U J6 9pKyV 7V4E BE UA U{V /FAlV q K* voJ= K>K7

;JK> /qS ?r; J4J>V/ U7=. K=V/ B V9 9G y J4J>/ BJ= <3J3q/J
Al2V K6K/ B EJ= 7= K9K5J=J K65qJK=/ 7K/V/
K* U=K'JV= K>K79
K=EJ =JK!V9H
$G, 2$Y &<G F/o
y=R7 U J6 voJ=
y J4J>/ /qS 7{".V /FAlV q
9KB/ =J= AJ/ K4V6= ;V5p K>K79 =J <J V9 6J
! y J4J>/ UV/= K6 * BJ 7/LE;J6 BE U< U3J
3q
7K=V?JV5= '6p U J6 %NKy BJ ;JKA
3q 7K=V?J5 K=EJ B
39J 6p U J6 :JV9 B
39J J 6"/ {;/J= 5L6 U J6
9pKyV 7V4E {K/7P=V.= 7K=;J. Al2V U J6 %NKy y 3q 9J
7K=;JV.= 7<Jq/J= J=V. 39J 7/J=.J 39J X95 7:J9
39J 6p U J6 AG"/ 7JE 9>l2V6= J=J BJK&> =J= J=V.
BJ U=K'J=:Py =J K%/ B V9 6J UA U{V y J4J>/
9v]J= 7K=V7K{V/ %NKy= 5L6 74 3q 7K=V?J5 Al qAB
<3J<3 JV4? K4V/ 7JK=V9O
6p U J6 J V6 <JBJ K &M 3J N 6J U 6 7 5J=J
= 5L6
U=K'J=:Py {K/7P=. 74J6 AlV q U J6 %NKy
J V6= 5L6
9>9FV<J"p B V9O
O @=^ F0= =~Z =0G$ ,X&Y$<0 +1Aoo U< U{V 5J=J
= 5L6
U=K'Kr =. 7VEJ'6 =R7 U J6 %NKy= voJ= K>K7 y 5J=J= K95J6 6M<JEL ?r;
J4J>V/ U7=. =J 6J BE UA U{V ;JK>
5pJVE= 5L6 /F /Tq 7V4E
{K/7P=V.= AlP.q 3q 7K=V?J5 K=V/ 9J5p 3JK V96 9G y J4J>/ K:6g=R7
K6V4q? 6J K4V> K/K6 {K/7P=. 9J94 ?rK; V 7K=V?JK5/ V3q= BJ %NKy= 5L6
B
39J 6p:JV9 B
V5qV = K5 /q6 K=V/ K5 J=L B V96 6JO
O <*>1Aoo
5pJVE= 5L6 74 ?r; J4J>V/= K6;gK>K!/
JV4V?= K9=^V *rJ 9Mp6JV> J7L> =J <J V9 <3J H
{K/7P=. KBAJV9 U3J
3q U=JVE4JV4= JV4? BJ ;JKA
3q
7K=V?J5 K=EJ B
39J 6p:JV9 B
39J U3J
3q
74JV6= 4J9L AlP.q 9J JGK? 6J ;MV== JV4?
! 3q 7K=V?J5 =/H ;JKA {K/7P=. 7r4JV6= 4JE B V/ ;My B EJ=
JV946 7/pJ!pJV6= JV4?
117
" U J6 ;S/ ?rK;V = U7J@p"V.= ;V5p {K/7P=V.= 3q 9f*V6= 9p9v]J

Al2K>/ JV4? 39J y=R7 U7J@p 9K>EJ 4J9L4J= U J6 9pKy=
{K/7P=. 7J EJ= 4J9L 6J ;MV== JV4?
# 5J=J
= 5L6 {K/7P=V.= U J6 3q 4J9L ;M= 9J 6J
;MV== JV4?
$ %NKy= voJ= K>K7= U=K'Kr =. 7/pJ!pJ6
39J BJ=
U=K'Kr =. 39J BJ ?/qAJV7V{ U=K'Kr =V.= JV4? 39J
% 5J=J
= 5L6 JV4?O
7{". /Tq ?r; J4J>V/= KAJeb ;JK6EJ %K>V/ Alo/ B EJ=
U{V 39J 7{"V.= ;V5p AlJK4/ %MKy J<q = =J= '6p ?r;
J4J>/ /Tq 74 U J6 JV4V?= K9=^V J7L> %K>V9 6JO
;JK> /qS 7 5J=J
= 5L6 U J6 J7L> 4JVE= =J
<J V9 6J <K4 6J J7LV>= voJ= K>K7= AKB/ ?r; J4J>/ /Tq
74
;V;q 7/pE67 3JV U< J7L> J=L y J4J>V/
AGK? JV4V?= 5L6 7V4E 3q ';J K4EJV&6O
U J6 JV4V?= K9=^V U J6 J7L> %K>V9 6J <K4 6J J7LV> U J6
V>!V<J"p J 6"/ 7r?g 'KC/ 3JV
9G 7 5J=J
!
K>K!/ U J6 JV4? 9p/L/ 6p U J6 JV4V?= K9=^V U J6
J7L> %K>V9 6J <K4 6J J7LV> K9V=J5LE V3q= 7K=;J. 6Mp6
BJ'J= *J J BEO
5J=J= 5L6 J7LV>= '6p /J;JK4= U;EJ4 B V9 @J* K46O
/J;J4L J 6
AV6= 6G J 6 = 5J=J
=
K95J6
5J=J= 5L6 J7LV>= U{V 7V<J'p B V9O
O <*>G10 =4s<PO 4<G*G` =$*7 *=0G2<( \L= $ 0#Aoo U< U{V
U J6 ;JK> 5J=J
= 5L6 U J6 J7L> 4JVE= V=6 UA U{V
?r; J4J>/ J7LV>= KAJeb AJV7V{ BJ= K6 * ';J T/ U J6 3q 7K=V?J5
v]K"/ =JK!V/ 7JK=V9 9G *rJ 9Mp6J> K6V4q? K4V> BJ 9?p v]K"/ =JK!V9O
O `=$*B0# =54<G, *r'k F <) &Y 5\O<PO0 0< 4UG Y )X F <) 0<G{Z0
49G ,X,\L< </Y 0 0<0 )X =,=(Aoo
A= J= A= J=L U"V'V* 7J76
J=J
5pJVE= 5L6 ?r; J4J>V/ ';J T/ U J6 3q <JBJ 6p
U J6 U4V? 9A9JA K=V/V&6 39J K=V/ <J V/V&6 ;6 U J6
9pKyV 7V4E 39J /JBJ= 7J7p y U4V? BvbJebV== '6p 9G
59
118
mG7<'2 (X<7
! 9JG>JV4V? 9A9JA K=V/V&6 39J K=V/ <J V/V&6 ;6 U J6

9pKyV 7V4E 9J /JBJ= 7J7p U J6 3q <JBJ 6p U J6 U4V?
?rK; "V.= {K/7P=. AlK q/ U J6 J V6= 5L6 ';J =J
B EJV& 9JG>JV4V? "B. 9f*6 9G 7K=%J>6J= '6p
K9K5 7.E6 K=V/ 7K=V9H
/V9 ?/q 3JV UV = AloK/ 9pK/V=V
y=RV7 BvbJeb= =J <J V9 6J </{. 7<qeb ';J"B. J=L ?r;
J4J>/ 5J=J
9G
= 5L6 y V3q= 9f*6 9G
:J" K6.qE K=EJ JV4? 74J6 6J V=O
U< U{V
5J=J= 5L6 7.L/ K9K5 U;J/JV9 U J6 ?r; J4J>V/
';J T/ U J6 3q y=RV7 BvbJeb= =J BE UA U{V y 3q
AlV q ?r; J4J>V/ ';J T/ U J6 {K/7P=. K9K> 9f*6 AlV q
5pJVE= 6p U J6 K95J6 J= 7V<J'p B V9 6JO
119
F Z!
=)7) ,9 =2y 4U Y
O 2Z=.G 0 =,G23 49f<Aoo K9@E 9J 7AGV"= 7K=7e]L U J6 K &M 6J

3JK V>
5pJVE ?rK; 3q 5J=J
AGJKE/ U J6 ?rK;
9G
5pJVE= 5L6 K? K9V=J5 AlV q U J6 J<q5J=J= 7VEJ'V6 y K9V=JV5= APV
39J K9V=JV5= 8V> U> 8 T/ &J*J T/ K,A%J'q T/ 9J 9=!Jvb T/ 39J
6p:JV9 %J N=L B V/ 7AJK=/ U J6 ?rK;
39J <JBJ= U> 8 &J*J
K,A%J'q 9=!Jvb 9J 7AJ=. B V/ y K9V=J5 K/ B EJV& =R7 U J6 ?rK;
BJ= eb:Mqy B V96 K e\ U J6 7K/JV6= 7JBJ=J *B>4J=L 39J K6=J7J J8
K"g K69qJ7 JV8= U J6 A4Ap 9G U"J76LE AB J=L BJ= eb:Mqy B V96 6JO
O .<=1
2Z=.G 0 F Z! =)7)Aoo
5pJVE= K95J6 AJV7V{
;M!p/H ?rK;
9G ;JK>V = Al q 39J ?rK;
9G ?rK;V =
Al q K6Ee. =J= >V{p U J6 7J3q p &JCJ A > ?rK;V = U*r,
K6E6 "+6 =J= 9G AGK? K6EV6= "+6/e AJV7V{
/JBJV4= K6'v2 7&Vf4= U*r, K6EV6 U<J"4JV6= K5 J= 3JK V9
! ;M!p/H ;JK>
9G ?rK;V = Al q 39J ;JK>
9G ;JK>V =
Al q K6Ee. =J= >V{p U J6 7J3q p &JCJ A > ;JK>V = U*r,
K6E6 "+6 =J= 9G AGK? K6EV6= "+6/e AJV7V{
/JBJV4= K6'v2 7&Vf4= U*r, K6EV6 U<J"4JV6= K5 J= 3JK V9
" ?rK; "V.= 9G ;JK> "V.= U*r, K6EV6= U8,JV=?6 "+6 =J=
9G BJV/ U<J"4J6 =J= K5 J= 3JK V9 9G y=R7 U J6
K6E6 9J U8,JV=?6 = ?rK; 39J ;JK> "V.= AG"+V6= U J6
Jeb'qJK/ AGv]J 9J 6V8,JV=?V6= AKB/ Al2L =V.= K5 J=
3JK V9 9G
# U*r, K6E6A;PVB= 9G ;JK> V4= AK;K/A;PVB= K6'v2 "+6/e
K9K5;J>J 7.EV6= AlP.q v2J5L6:JV9 K6'v2 7K/K6K5V4=
K69Jq%V6= AK;K/= 7?JA6
;q/F7=/J AG"+V6= 9G ;qAP%L
7.EV6= K5 J= 3JK V9O
O F0= =~Z 0G#0 )X '0 <\OAooU J6 U*r, K6E6 BJ= A:J7K/ 9G
AlJ4V = v2J{V=
5pJVE=
5L6 BJ= U=K'Kr =V.= '6p AGK?
>J J= U=K'rJ= 9 U*r, K6E6 = K6 * 4=!Jvb K=V/ 7JK=V9O
O '0 <G\O0 )X *rG7< )>7 =,37<='Aoo
U J6 U*r,
K6E6
60
120
U=K'Kr =V.= '6p 4=!Jvb ?r; 7K=%J>V = 39J /4AGK? K9@VE 4JKE/i7J
;q /qJ= K6 * U7? K=V/ B V9O
y 4=!JVvb= AKB/ K6;gK>K!/ K9@E}K> AGV<JK'/ 3JK V9 <3J H
K6;gK>K!/ /3p A=9=JB K=EJ K* K99=. <3J H
U*r, K6EV6= 6J; 9G BJ= 75J6 J<qJ>VE= K+ J6J
U*r, K6E6 "+V6= /JK=!
U*r, K6EV6= ;q /qJ"V.= 6J; 9EA K+ J6J U7?J 9G
K6EV6 /JBJV4= 74
A > %JI4J 4J6 J=L A4Ap"V.= K99=.
U< 7K/JV6= AKB/ U*r, K6E6K* AGK? BJ= 6J; 9G
BJV/ K6<My 9J ;q=/ ?rK;V = U;J* AG!pJ
U J6 U*r,
K6E6 U8,JV=?V6= U{V BJ= A4Ap
K6EV6= 6J; K+ J6J U=K'Kr 6l2=
! U*r, K6EV6= "+6/Ve= K/6K* K7 9G /FAB U< A:JE BJ
"BV.= '6p 7vbJ9 "SBL/ B EJV&
y A:J= A:J7K/=
4vb!/Al2K>/ y 7vbJV9= K* K7
" U*r, K6EV6= A:J7K/ 9G AlJ4 V
BJ= U=K'Kr =V.=
'6p 4=!Jvbb K=9J= {;/J 74J6 K=EJ BJ= A4Ap". /Tq
"SBL/ 7vbJV9= K* K7 9G
# U*r, K6E6 U8,JV=?V6= U{V BJ= A4Ap B EJ= '6p AloK/
7 J? K=EJ 7V/p A4Ap K6E6 /qS "SBL/ 7vbJV9=
K*
K7O
?r; 7K=%J>
39J /4AGK? K9@VE 4JKE/i7J ;q /qJ 7
5J=J
= 5L6 U J6 4=!Jvb 7J EJ= 7= BJ=
K* K7
K6EV6= ;q /qJV4= /JK> JAB AGK? ;JK> V /JBJ=
9"K/= '6p K9>Vl2 U7=. K=V96H
/V9 ?/q 3JV U< 7K/J67MV= U{V JV946 J=L= !=V%
U=K'rJ= 9 U*r,
K6E6A /qS
K6EV6= ;q /qJV4=
/JK> JAB ".K9K 7%JV== 9p9v]J K6V/ B V9O
O F0= =~Z 0G#0 )X *rG7< )>7 =,37<='Aoo
5pJVE= 5L6
U J6 U*r, K6E6 U=K'Kr =V.= K5 J=L B V9 6J <K4 6J BJ= "+6/Ve
K6;gK>K!/ K9@EJK4= K95J6 3JV <3JH
U*r, K6EV6= 6J; K+ J6J
121
! U*r, K6E6 "+V6= V?p

" U J6 ?rK;V = U*r, K6EV6= A4Ap B EJ= 7e]J 9G BJV/ U J6
?rK;
BJ= "+6/Ve 74K?q/ 8=V; K/K6 6p U J6 U*r,
K6EV6= A4Ap 6VB6
;V;q U#J@.J K4EJ 4=!Jvb 6J K=V>
BJ= A4Ap B V/ 7JK=V96 6J
;V;q v K95J6
# U*r, K6EV6= /BK9V>= FA 9G y /BK9> K VV?p 9p9/
B V9 /JBJ= 9.q6J
$ U*r, K6EV6= "+6/e /Tq K6K/ U J6 AMK95J U J6 A4Ap
/qS 7J EJ= K5 J=L B EJ= '6p ?/q 9G U J6 A4VAp= 7=
'K=;J6J 39J 9JV'EJK= JV4? 74JV6= ?/q
% U*r, K6EV6= A4Ap"V.= /JK> J AG={. 9G BJ= ;q /qJ
A4Ap /Tq BJ 7K=4?qV6= 7<qJ AMK95J
& "+6/Ve= 7K=9/q6 AGV?J56 9JK/V>= 7e]J
' U*r, K6E6 /BK9V>= K6=J74 UB8J'/ BJ= 9JFAK= K6=L{J
K6=L{J= 7e]J 9G U*r, K6EV6= ;q /qJ
BJ= A4Ap /qS
BJ= KBAJ9 9 7K=4?qV6= 7<qJ AMK95J
( U*r, K6E6 9>MK= 7e]J
) U*r, K6EV6= AJ5J=. A4Ap". /Tq BJ= ;q /qJ K69qJ%V6=
7e]J 9G ;q /qJ"V.= J<q JV>= U;EJ4 <JBJ U J6 U{V 4M
9FAV== U9?L B V9 6J
* ;q /qJ"V.= AG!pJ <JBJ K9K5 J=J K65qJK=/ 7IJ%'V6= ; 9G
7IEK? 'V6= U9?L B V9 6J
+ U*r, K6EV6= ;q /qJ"V.= K9=^V 6Jv]J 7 JV?= 7K/ 9G
, U*r, K6EV6= K69qJBL K;K* 9G AJ5J=. A4Ap"V.= A:J JB9J6
<JBJ K69qJBL K;K*= U{V 7rK/ K/6 ;JVA eb/
9J= 9G
AJ5J=. A4Ap"V.= U{V 7K/ 9FAV= eb/ 9J= B V/ B V9O
?rK; "V.= U J6 U*r, K6E6
5pJVE= 5L6 U=K'Kr =V.=
K5 J=L B V9 6J <K4 6J U< 7K/JV6 BJ "K+/ B EJV& UA
7K/JV6 K6<My ?rK; "V.= U;J* AG!pJ= 6Mp6 ?/ =J K?:J"
?rK; BJ= A4Ap B6 H
/V9 ?/q 3JV U<
;JK>V = 5L6
JK5 7K/J6 <K4
K? 7K=%J>6J= VV?p V
7V== AKB/ AGK?
Al q<My BE /JBJ B V> BJ=J U<!JV6 v]JK7/ B 6J U 6
61
122
75J=J= VV?p K* 7K/J6 9K>EJ ".p B V9O

U< U{V U J6 4M 9J /V/JK5 7K/J6
;JK>V = 5L6 K 6J
39J
K? 7K=%J>6J= VV?p BJ=J 7=v= AGK?
Al q<My K 6J =R7 U J6 AVf4B 9J K9V=J5 U4!J U4E UA U{V
K9@EK* K6uK= '6p ?r; 7K=%J>V = K6 * U7=. =J <J V9O
7 5J=J
= 5L6 ?r; 7K=%J> /Tq 74 U J6 KAJVeb=
J=J U J6 9pKy AG{N B V> K/K6 KAJeb 74JV6= /JK=! B V/
K? K4V6= ;V5p BJ= K9=^V ?r; J4J>V/ J7L> K=V/
7JK=V96 9G
K9@VE ?r; J4J>V/= KAJeb %PCJeb B V9O
U J6 7K/JV6 39J 7K/J6 7MV U J6 A;VE K/6K*= K5
U=K'Kr T/ U*r, K6E6 3JK V9 6JO
O F Z! =)7G)0 4'4X ,< .Y $Y< 5 7<0 G/< X$<Aoo U J6 U*r,
K6EV6= "+6/Ve <JBJ K &M 3J N 6J U 6 U J6 9pKy BJ= ;q /qJ 39J
A4Ap K69qJK%/ B EJ= 9J 3JK 9J= U<J"p B V96 6J <K4
K/K6 W6K/ >6'K6/ U J6 U8Y'4J=L 7=JV5 U4J@L AJ9pvb B EJ
3JV 6 39J 5J=J
# 39J 5J=J
= 5L6 U J6
7=JV5= '6p U4J@L AJ9pvb B EJ 3JV 6 9G /JBJ= ;MKy>JV:= 7=
4M 9FA= J> K/9JKB/ 6J B EJ 3JV
! U< 7K/JV6 U*r, K6E6 "+6 =J B EJV& UA 7K/JV6 K/K6
?rK; KBAJV9 K6VEJK'/ 9J ;q=/ 6J 3JV 6O
7 5J=J
! = U J6 K &M U J6 U*r, K6E6 U8,JV=?V6=
U{V 7V<J'p B V9 6JO
O F0= =~Z E$ F Z! =)7) $EY F0= ~<0 $X<=' 490`#Aoo7V/p
U=K'Kr T/ U*r, K6E6 K9K5 J=J K65qJK=/ 8=V; K6;gK>K!/ U=K'J= 9J 9
AG={. K=V9 <3JH
A4Ap U=K'J= <JBJV/ 7V/p A4Ap /qS 7K=V?JK5/ %IJ4J=
9.q6J 3JK V9
! KBAJ9 9 <JBJV/ JE 9G 9pE 74K?q/ B V9 9G
"
J<q K99=.L 9 <JBJV/ A > 7 J= J<q K99=.L K>K79
3JK V9O
O F0= =~Z 0#Aoo
?r; 7K=%J> U J6 U*r, K6E6 /qS
5pJVE= A > 7VEJ'6LE K9@EJK4 7JK>/ B EJV&
;V;q Ae\ B EJ= 7= K9K5
J=J K65qJK=/ U=K'JV= BJV U=K'Kr K=V96 9G U=K'Kr =V.= '6p
123
4=!Jvb 7JK= @J* K4V6= ;V5p K9K5 J=J K65qJK=/ 8=V;

K* U=K'Kr =.
7/pE67 74J6 K=V96O
<K4 ?r; 7K=%J> y 4=!JVvb /pJ9?p U J6 /V3p= AlP.q/J
U4K!V/ 7J6 /JBJ B V> K/K6 4=!Jvb 7JK= 76= K4V6= ;V5p y
K9@VE /JBJ= J7K U*r, K6E6V K>K!/:JV9 'J6J V96 9G
U*r, K6E6 BJ 7JK= 76= K4V6= ;V5p BJ= '9J9 K4V9O
<!6 ?r; 7K=%J> /qS JK7/ J7K AVebJ@'6 :JV9 K;*JV6J
BE /!6 K/K6 7 5J=J
= K95J6 6M<JEL U*r, K6E6K*V
U=K'Kr K=V96 9G BJ <K4 AVebJ@'6 :JV9 K;*JV6J 6J BE
/JBJ B V> K/K6 4=!Jvb 7/pJ!pJ6 K=V96O
U< U{V ?r; 7K=%J> U J6 4=!Jvb 7/pJ!pJ6 V=6 39J J7K
K;*JV6J= 7V= 7 5J=J
= K>K!/ @J* K46 A;EAL;J=
;V5p 4=!Jvb K6vK 6J V=6 UA U{V AGK? U*r, K6E6
y=R7 7/pJ!pJV6= /JK=! 39J K>K!/ A;EAL;J K/zJeb
B EJ= /JK=! <JBJ JV" B V9 B V/ K? K4V6= ;V5p ?r;
J4J>V/ J7L> K=V/ 7JK=V9O
?r; J4J>/ J7L>K* 6J6L= 7= 7<My K9V9%6J K=V> BJ=
=JVE J=. K>K79 K=EJ ?r; 7K=%J> V U*r, K6E6K* U=K'Kr
K=9J= '6p 9G BJ= /JK=! B V/ AJ/ K4V6= ;V5p U=K'Kr
7/pE67 7r4J6 K=9J= '6p K6V4q? K4V/ 7JK=V9 39J J7L>K*
!JK=' K=V/ 7JK=V9O
7 5J=J
6MAJV= ?r; J4J>/ /qS 74 =JVE= K9=^V
AG{M 7{ ?r; J4J>V/= JV4? 7JK=
K? K4V6= ;V5p
?r; J7L> J4J>V/ J7L> 4JVE= K=V/ 7JK=V96O
O *r=$|<) *?Gh F Z! =)7) F0= =~Z 0#Aoo
5pJVE <JBJ
K &M 3J N 6J U 6 U*r, K6E6 "+V6= VV?p U J6 7K/J6 7M
K*
7K/J6 9K>EJ K9V9K%/ B V9 9G
7K/J6 7MV= eb:Mqy U J6 7K/JV6
U J6 v2/e U*r, K6E6 "+6 =J <J V9 6JO
5J=J= VV?p U J6 7K/J6 7M 9K>V/ U J6 K65qJK=/
>J JE
7 JV== U J6 K65qJK=/ K?V K6VEJK'/ 9G 6K5
K9? '6 ?rK; K6<My JV&6 =R7 A > 7K/J6V 9M(J V9O
7 5J=J
<JBJ K &M 3J N 6J U 6 U J6 K65qJK=/ >J JE
K6;g9K.q/ U6J=/ A > 7K/J6 BJV4=
62
124
7V/p K*V/ K6<My ?rK; AG!pJ <JBJ 3J N 6J U 6 y >J J=

'6p K* 7K/J67M 9K>EJ ".p B V9 <3J H
9pKy ;JK> J6J5L6 AC 7K=9B6 K=| JAB
! 9pKy ;JK> J6J5L6 :peb=L6 U6Y 7K=9B6
" 6P5hq
'6 ?rK; K6VEJK'/ 4K'q U7J@J 7v\/ J=L K?
# %J K?
$ 'M* U9K>G
% %J;CJ K?
& K9KC
' Bvb%JK>/ /IJ/
( UBJK?EJ=L
) &J7J!J6J
* 6K5 7IK%? K/K3 {K9K? UBJV*> 39J U;JV*>
+ UBJV*V>= G? KBAJV9 6VB ;6 U=VvbJ=IJ
, {N4r 5J/9 K?
- 9 9IJ5J
. KAV6;J 9G K3VE*J= H
/V9 ?/q 3JV U< A= J= <K4 'J/LE v2JV3q K%/ 9K>EJ ;V6 V=
/JBJ B V> A= J=L U"V'V* 7J76 J=J 7V=Jy K?V= /JK> J=
AKB/ 6p U J6 K? U<J" K=V/ 7JK=V9O
7 5J=J
39J
K>K!/ K65qJK=/ >J J 9K>V/
A= J= /qS A= J=L U"V'V* 7J76 J=J /4 VV?p U J6
K65qJK=/ K?V= '6p K65qJK=/ U J6 >J J 9M(J V9 9G y=R7
>J J 'J/LE JK>
39J v]J6LE K:KV/ K65qJK=/ B V/
7JK=V9 9G K:6g K:6g K?V= '6p K:6g K:6g >J J K65qJ=. =J
<J V9O
7 5J=J
K>K!/ K65qJK=/ K? 9K>V/ A= J= /qS
A= J=L U"V'V* 7J76 J=J /4 VV?p K65qJK=/ U J6 K?V
9M(J V9O
U J6 7K/J6 7MV "K+/ U J6 U*r, K6E6 U=K'Kr =J <J V9
<K4 y 7K/J6 7MV= eb:qMy A > 7K/JV6 K6VEJK'/ A >
?rK;V = U;J* AG!pJ= 6Mp6 K? ?/JG? BJ= A4Ap BEO
5pJVE <JBJ K &M 3J N 6J U 6 <K4 U J6 7K/J6 7MV
125
"K+/ U J6 U*r, K6EV6= "+6/Ve =R7 K95J6 3JV U< y

7K/J6 7MV= eb:Mqy U J6 7K/JV6 K6VEJK'/ 6VB6 =R7 U J6
9pKy BJ= ;q /qJ K69qJK%/ B V/ 9J 3JK V/ 7JK=V96 /JBJ
B V> y=R7 U J6 9pKy BJ= U J6 ;q /qJ K69qJK%/ B V/ 9J
3JK V/ 7JK=V96 H
/V9 ?/q 3JV U 5J=J U J6
7K/J6 7MV "K+/ U*r, K6EV6= U{V 7V<J'p B V9O
O F,4<.=0 =,.<) *=0,5) *r=$|<G) F Z! =)7) F0= =~Z 0#Aoo
5pJVE <JBJ K &M 3J N 6J U 6 U< U{V U9AJ;K= K9;J6 7K=9BV6= U{V
U J6 K9V?@K/ {;/J Al6g U7?J 39J %J N=L AlV q U J6 v2L T/ Jeb
'qJK/ AGv]J 9/q;J6 3JV UA U{V 9JG>JV4V? U9AJ;K= K9;J6 7K=9BV6
y=R7 U7?J 39J %J N=LV/ K6<My ?rK; ". /JBJV4= K6'v2 U*r, K6E6 "+6
K=V/ 7JK=V96 <K4 y=R7 Jeb'qJK/ AGv]J= AKB/ Al2L =V.= '6p /JBJV4=
y=R7 U*r, K6E6 7VEJ'6 BEO
U J6 U9AJ;K= K9;J6 7K=9B6 7K/JV6 y=R7 7V/p U7?J 9J
%J N=LV/ K6<My ?rK; ". U 9>;J
K* U*r,
K6E6 "+6
K=V/ 7JK=V96O
U J6 Jeb'qJK/ AGv]J= AKB/ BJ Al2L T/ B V9 /JBJ V>!
K=EJ y=R7 U7?J 9J %J N=LV/ K6<My A > ?rK;V = U;J* AG!pJ=
V5qV = U9?L K>K!/:JV9 JV946 6J K=V> y=R7 U J6 U*r,
K6E6 U=K'Kr =J <J V9 6JO
y=R7 U*r, K6EV6= U=K'Kr =. 9JK/>V<J"p B V9 <K4 BJ=
U=K'Kr =V.= &E ;JVA= ;V5p AGK? Jeb'qJK/ AGv]J= AKB/
BJ Al2L T/ 6J BE 39J <K4 !6 BJ= AKB/ Al2 K&6g B EJ
<JEO
O )<=, G#0 F Z! =)7) F0= =~Z 0#Aoo
5pJVE <JBJ K &M
3J N 6J U 6 A;M4r"J;L 'JBJV' AJ5J=./H ;q=/ 3JV 6 =R7 9JG>JV4?L
6JK9 ". /JBJV4= K6'v2 U*r, K6E6 "+6 K=V/ 7JK=V96O
U J6 6JK9 y=R7 U J6 U*r, K6EV6= A4Ap B V96 6J <K4 6J
/JBJ=
K* K9K_&6g K,A%J'q 7/pE67 3JV
39J 9JK.K'p
63
126
'JBJ' 9p9AJVE= U J6 7K/JV6 6JK9 KBAJV9 K6<MKy= U J6

K6VEJ"7 3JV O
5pJVE= 5L6 6JK9 "V.= U 9>;J K* U*r, K6E6 "+6
=J <J V9O
O F0= =~Z 0G#0 '0 <\O =)[)R &< < <G1 < @0>0 2$Y<,1>
*=0,=$Y$ &<= G,Aoo
U J6 ;JK>
BJ= 7K/JV6 "K+/ U J6 U*r,
K6EV6= U=K'Kr =V.= 4=!Jvb K6u6g 3J J JV> ?r; 7K=%J>V = 7P9q 6M;K/
9p/LV=V y K6EV6= U J6 ;q /qJ= AMK95J BE =R7:JV9 /JBJ= 4=!Jvb
7P9q %J N=L= ?/qJ9>L= U J6 7K=9/q6 K=V96 6JO
5J=J
<JBJ K &M 3J M 6J U 6 U J6 ;JK> y=R7 U J6
4=!Jvb K6u6g 3J J JV> y U*r, K6EV6= A4Ap =R7 U J6
?rK;V = %J N=L y 5J=J= 5L6 9AJ6 K=V/ 7JK=V96 6JO
O 4-<*=$
=$*7 .Y $Y<G ,'1> 0< /< G, )<Aoo U J6 U*r,
K6EV6= A:J7K/ AJ5J=. AlJ4 AJG"+K6 AlJ4
39J U J@J5p{V
/JBJ= AloK/ 9pK/V=V
U'>J B V/ 6p U'>JE 94>L =J <J V9 6JO
O )$Pe ,9 =),<Y5> =.= 0 =$*7 *=0,$YG)0 F`Gm F)<= 2
*r'<)Aoo
U J6 U*r, K6EV6= "+6/Ve= 7V/p AGV?J56 BJ= ;q /qJ=
7V/p 7K=9/q6 9G BJ= 6J; K+ J6J= 7K=9/q6 BJV y=R7 AGV?J56 9J
7K=9/qV6= 76= K4V6= ;V5p U=K'Kr ,J U<JV" 39J BJV/ BJV/ U6JK*? 74J6
K=EJ ?r; 7K=%J> V 9KB/ K=V/ B V9 9G ?r; 7K=%J> y=R7 U6JK*?
7JK= 7= AGV" AGV" BJ= K* K7 AGK? ;JK> V /JBJ= 9"K/= '6p
U7=. K=V96O
?r; 7K=%J> y=R7 U J6 AGV?J56 9J 7K=9/q6 U=K'Kr K=V/
v2L J= K=V/ 7JK=V96 <K4 BJ
5pJVE= U J6 K95JV6=
39J AGK? U*r, K6EV6= "+6/Ve= U J6 K95JV6= U!>J7
K=EJ =J BEO
U J6 U*r, K6E6 U8,JV=?6V
BJ= AKB/ U J6 6P/6 A4Ap
K6EV6= AG<MKy 39J BJ B V/ U J6 A4Ap K6EV6= K9<MKy
AlV q BJ AG"K+/ B EJ= @J* K4V6= ;V5p U=K'Kr ,J V<JV"
U7K=/ U6JK*? ;J=8/ ?r; 7K=%J> V 9KB/ K=V/ B V9O
<K4 U J6 U*r, K6EV6= ;q /qJ 7K=9/qV6= 9pJ7JV= U J6 K9V=J5
3JV
39J 7 5J=J
= 5L6 ?r; 7K=%J>V = 7/pJ!pJ6
JV4? J=J U J6 U*r, K6E6 AG{N BE /JBJ B V> y U*r,
127
K6EV6= UV/ J7L> K=V/

7JK=V96O
?r; J4J>/ 7 5J=J
= 5L6 U J6 J7L> 7JK= AJ/
K4V6= ;V5p BJ= 6J6L= 7= 7<My K9V9%6J K=V> BJ= =JVE
J=. K>K79 K=EJ AGK? U*r, K6EV6= AGV?J56 39J BJ=
;q /qJ= 7K=9/q6 U=K'Kr =J= '6p ?r; 7K=%J> V K6V4q?
K4V/ 39J ?r; 7K=%J>V = /iJ95JV6 K6EV6= 6P/6 K69qJ%6
6MJV6= K6V4q? K4V/ 7JK=V9O
O F0= =~Z 0G#0 *r$X7)*mAoo ?r; 7K=%J> 5J=J
= 5L6
U J6 U*r,
K6E6 U=K'Kr =J= 7= K9K5 J=J K65qJK=/ 8=V;
K*
U=K'Kr =V.= 7/pE67 7r4J6 K=V96 9G y 7/pE67 AGK? U*r,
K6E6
5pJVE= 5L6 <3J<3:JV9 U=K'Kr T/ B EJV& 9K>EJ %PCJeb 7;J.
B V9O
O F0= =~Z ,<=$1 0#Aoo
5J=J= 6p K95J6 AJV7V{ ?r;
7K=%J> U J6 U*r, K6EV6= U=K'Kr 9JK/> K=V/ 7JK=V96 <K4
U=K'Kr 9JK/V>= '6p U*r, K6E6 4=!Jvb V=
! BJ= Kvb/i K9>M BE
" BJ 7/J=.J 39J U J6 /V3p= K;3pJ 9.q6J= ;J5pV; U=K'Kr BJKA>
K=EJ 3JV
# BJ BJ= "+6/Ve= U;YK> U J6 K95J6 >G#6 K=EJ 3JV
$ BJ U J6 AF ?r; J%=. K=EJ 3JV
% BJ= A4Ap AG!pJ
5pJVE= 5L6 7VEJ'6LE AG!pJ= 6LV%
6JK;EJ <JE 39J
& BJ
5pJE 9J U J6 K9K5= K95J6 >G#6 K=EJ 3JV O
U< U{V ?r; 7K=%J> /4ebJVeb
;V;q Ae\ B6 U =J K%/ UA U{V K/K6 BJ= U=K'Kr
9JK/> =J= '6p 6M;K/ 7J3q6J K=EJ ?r; J4J>V/ 4=!Jvb U7?
K=V96O
?r; 7K=%J> ?r; J4J>/ B V/ 6M;K/ 7JK= K? K4V6= ;V5p
y U*r, K6EV6= U=K'Kr 9JK/> K=EJ K4V96O
U J6 U*r, K6EV6= U=K'Kr 7 5J=J
$ 6M<JEL 9JK/>
=J <J V9 6J <K4 6J y U*r, K6E6 /qS K:V<JV" 9K.q/ AF
?r; J%=. AG#K+/ B EJ= K/6 ;JVA= ;V5p ?r; J4J>V/ 4=!Jvb
64
128
=J BEO
O )?.=$ $X<='0 =,0MGs <*>1Aoo
5J=J
= 5L6 U J6
U*r, K6EV6= U=K'Kr 9JK/> =J= 6M;K/ 74J6 K=EJ 39J 6M;K/= 7J3q6J
6J ;M= K=EJ 74 ?r; J4J>V/= U J6 JV4? 39J ?r; 7K=%J> /Tq y
5J=J= 5L6 U J6 U*r, K6EV6= U=K'Kr 9JK/> K=EJ 74 U J6 JV4V?= J=J
AG{N U J6 9pKy JV4V?= /JK=! B V/ K? K4V6= ;V5p *rJ 9Mp6JV> J7L>
4JVE= K=V/ 7JK=V96 9G
K9@VE *rJ 9Mp6JV>= KAJeb %PCJeb B V9O
U< U{V 7 5J=J
= 5L6 U J6 J7L> 4JVE= =J BE UA
U{V AGK? U*r, K6E6V
J7L> K6uK 6J B EJ 7<qeb
BJ= J' %J>J EJ <J EJ= 6M;K/ K4V/ B V9O
O F0= =~Z 0# ,X$>$ F <) F Z! =)7G)0 < <1<G)< =)=3sAoo
U J6 U*r, K6E6 U=K'Kr T/ 6J B V> 39J BJ= U=K'Kr 9JK/> =J B V>
5J=J
= K95J6 AJV7V{ BJ U*r, K6E6 KBAJV9 J' K=V/ 7JK=V9
6JO
U J6 9pKy 7 5J=J
K>K!/ U J6 U*r,
K6EV6=
/BK9V>= '6p A4Ap:MKy= %JI4J 9p/L/ 6p U J6 %JI4J J4JE
K=V/ 7JK=V96 6JO
O Ht$ 4'4X *G'0 *0 ,<(<Aoo
A;VE U J6 ;JK> 39J U J6
?rK;
7K/JV6= JK5 U*r, K6EV6= A4Ap B V/ 9J 3JK V/ 7JK=V96
6JO
O F0= =~Z E$ F Z!
=)7G)0 49=,=(,s 5 7<Aoo
7V/p
U=K'Kr T/ U*r, K6E6 BJ= U=K'Kr T/ 6JV; K* AGK9K59 AGv]J B V9
9G BJ= v]JEL 5J=J9JKB /J 9G
K* AJ5J=. AL>V;JB= 3JK V9 9G BJ=
%NKy =J= v]J9=
v]J9= :E 7 J= AlK 'q6 =J= K5 JV= =J!J= 9G
BvbJeb= =J= {;/J 3JK V9 9G BJ= 6JV; BJ ;J;>J K=V/ 7JK=V9 9J BJ=
K9=^V ;J;>J 4JVE= =J <J V9O
AK;K/A;PB U=K'Kr =. J 6
AV6=
6G
J 6 A;9JE AK;K/ 5pJV4?
AV6=
6G
5pJV4? 9G U JlJ6LA;PB J 6
U J6 U=K'Kr T/ U*r,
K6EV6= U{V 7V<J'p B V9 6J 9G y U J6 J V6= 5L6
U J6 U*r, K6EV6= U=K'Kr =. X95 B V9O
O .<=1G 0 *G` 48 2Z. < 0#Aoo U J6 ;JK>
39J ;JK> "V.=
U*r, K6E6 39J /JBJV4= 7V{ :J=7J U J6 9pKy
129
!
"
&
'
65
U J6 %J N=L %NKyV/ AGK? ?rK;V = U J6 U*r, K6EV6 U<J"4J6

=J 39J U J6 U*r,
K6EV6 BJ= A4Ap 74 %J>M =J!J=
K5 JV== 7= 9J5JAl2K>/ U J6 ?/q JV=J7 K=V96 6J
U J6 ?rK; U J6 U*r, K6EV6= A4Ap 9J ;q /qJ JV&6 39J
6VB6
'MBJV/ /JBJ= %J N=LV/ K6VEJK'/ K=V/ 39J
K6VEJK'/ =JK!V/ v2L J= K=V96 6J
6VB6
'MBJV/ /JBJ= %J N=LV/ K6<MKy 7V4J6gK/ %J N=L=
?/q9>L 39J JV'= ?/qJ9>L Al2V /JBJ= K9=^V U J6 W9@;p
K=V96 6J
B V/ %JVB6 39J 6p U J6 9pKyV y=R7 A4Ap 9J ;q /qJ
B EJ= '6p 7V=JK%/ V=6
J=V. 39J U J6 U*r, K6EV6=
"+6 J<q >J7
BJ= 7AJV= G?"B. V=6
J=V. /JBJV
%J N=L B V/ 9=!Jvb K,A%J'q 39J 7AJ=. =J <J V9 6J 9J BJ
=J= :E 74?q6 =J <J V9 6J 39J /JBJ= %J N=L= U J6 7 J=
{K/ =J= ;K U4 EJ <J V9 6J
U J6 ?rK; V 9J 6p U J6 9pKyV U J6 AMV<J" K4EJ 9J AMV<J"
U4 EJ= 7vbJ9 K=EJ 39J /JBJ= '6p AMV<J" AG"B K=EJ 39J
AG"B =J= 7vbJ9 K4EJ /JBJV U J6 U*r, K6EV6= A4Ap 9J
;q /qJ B V/ K9=/ =J!J= '6p 39J y 74 &JKCEJ U4 EJ= '6p
7>M K=V96 6J
:LK/ 74?q6 9> 7VEJ" %J7 7VEJ" ;K 74?q6 U J6 v]JV6
J* ?J=LK=
J#J/ 7JK6 ?Ky 9G U*K>V8J6 AMK95J K9K_&6g
K=EJ 39J 6p U J6 7e]J 9>l26 K=EJ U J6 U<Y3 4= @J K@
7K/K6K5 ;q /qJV U J6 %NKyV/ 76L/ B EJ= 39J
K6uK6J;JE 4vb!/ =J= '6p 9J5p K=V96 6J 9J 9J5p =J= U%J
K=V96 6J
5J=J
= 5L6 U J6 K69qJ%V6 BvbV{7 K=V96 6J 39J
U J6:JV9 BJ 7:JK9/ K=V96 6J
5J=J
= 5L6 U J6 5;q#* %>J JV> 39J X95 6VB =R7
U J6 5;q#* %>J JV> U J6 6P/6 ?rK; K6VEJ" K=V96 6J /V9
AJK>A <K4
;V;q Ae\ B6 U K/K6 7K/JV6= U< K9:JV" 9J
?J!JE 6M=R7 {K/ B 9J= AljJ96J JV& UA!JV6 ALK;/ AG!p
v]JEL ?rK; K6VEJ" K=V/ 6M;K/ K4V/ 7JK=V96
( G?"B. J=L K;K*= U J6 AM7JK=? 6M<JEL 9p9v]J "B. K=V/
_&J T/:JV9 9p3q B V96 6J
) U J6 K? K9V=J5 AlV q U<Y3 4= @J K@ 7rK/K6K5 /qS 74
U J6 7V= = K4V/ 9p3q B V96 6J
* 5J=J
= K95J6 :G" K=EJ U J6 U*r, K6EV6= A:J7K/
AJ5J=. AlJ4 AJG"+K6 AlJ4
39J U J@J5p{V 94>L
K=V96 6J 39J
+ U J6 U9 J 6L > J * =^ K=V96 6J 9J %J>M =JK!V96 6J 39J
BJV/ G?"BV.= '6p 6p U J6 9pKyV 7V=JK%/ K=V96 6JO
O 2Z=.G 0 *G` 48 2Z. < 0#Aoo ;JK>V = K96J 6M;K/V/ U J6
?rK; /JBJ= ;qA;VE U J6 U*r, K6EV6= ;q JV K6VEJK'/ 3JK V96 6JH
/V9 ?/q 3JV UJ7 JV>J%6J AJK>A ;5pv]/J 39J 6p U J6 J<q5J=J AlV q BE
9G ;JK> V /FAlV q <3JA;VE 9KB/ =J BEO
U J6 ?rK; 9J ?rK; "V.= U*r, K6E6 39J K6EV6= 7V{
:J=7J U J6 9pKy
U J6 ?rK; V U J6 U*r, K6EV6= A4Ap 9J ;q /qJ B EJ= '6p
39J 6J B EJ= '6p 39J y 7V4 9BJ> 3J J= '6p 39J BJ
B V/ K9=/ 3J J= '6p :LK/ 74?q6 K=V96 6J
! U J6 ?rK; V 9J 6p U J6 9pKyV U J6 AMV<J" K4EJ 9J AMV<J"
U4 EJ= 7vbJ9 K=EJ 39J /JBJ= '6p AMV<J" AG"B K=EJ 39J
AG"B =J= 7vbJ9 K4EJ /JBJV U J6 U*r, K6EV6= A4Ap 9J
;q /qJ B V/ K9=/ =J!J= '6p 39J y 74 &JKCEJ U4 EJ= '6p
7>M K=V96 6J
" :LK/ 74?q6 9> 7VEJ" %J7 7VEJ" ; L 74?q6 U J6 v]JV6
J* ?J=LK=
J#J/ 7JK6 ?Ky 9J U*K>V8J6 AMK95J K9K_&6g
K=EJ 39J 6p U J6 7e]J 9>l26 K=EJ U J6 ?rK; V U J6
131
U*r, K6EV6= /BK9V> %IJ4J 74J6 =J= '6p 9J 6J =J= '6p

9J5p K=V96 6J 9J 9J5p =J= U%J K=V96 6J
# :LK/ 74?q6 9> 7VEJ" %J7 7VEJ" ; L 74?q6 U J6 v]JV6
J* 9J BJ B V/ V_&4 U94!> BJ;>J ?J=LK= J#J/ 7JK6
?Ky 9J U*K>V8J6 AMK95J K9K_&6g K=EJ 39J 6p U J6 7e]J
9>l26 K=EJ ;JK> V U J6 K6uK 6J;JE 4vb!/ K=V/ 39J
U J6 4J9L "B. K=V/ 9J ;JK6EJ > V/ 9J5p K=V96 6J 9J 9J5p
=J= U%J K=V96 6J
$ U J6 U9 J 6L 5;q#* 39J K-V; /JV> J' ?M=^ K=V96 6J 9J %J>M
=JK!V96 6J 39J BJV/ G?"BV.= '6p 6p U J6 9pKyV
7V=JK%/ K=V96 6J 39J
% U J6 U*r, K6EV6= U J6 4J9L 39J BJ= U J6 >{p 'qV6=
VV?p U J6 U#=J
7K=9B6 39J U<J"JV<J" 9p9v]JE
7K/9 /J ASK 39J U J6 AlK= 5hGA AJ56 K=V96 6JO
U J6 U*r, K6E6 BJ= ;q /qJ 9J BJ= 7V{ K6<My 6p U J6
9pKy= ;J5pV; X95 7:J9 :LK/ 74?q6 K;3pJ 7K=%E 39J #M@
J=J 5J=J
= 5L6 6MK/ U J6 K69qJ%V6 BvbV{7 K=V>
BJ y U*r, K6EV6= 7V{ AF ?r; J%=. B V9O
O 36/GPe0 < G)0 4>=.$ *rG7< Aoo U J6 U*r, K6E6 5J=J
K>K!/ BJ= "+6/Ve= U J6 >{p BJK&V>= VV?p AlJK4/ BJ=
A4Ap"V.= ;V5p U J6 %NKy= '6p BJ= 9J U J6 U<Y3 4= J@J K@ 7K/K6K5= U J6
A4Ap 9J ;q /qJ 4K9K5 J 6
AV6=
6G J 6 = 5J=J
!
= 5L6 ?JKvbV<J"p B V96 6J <K4 6J %NKyK* U J6 7=J5 K=9J=
'6p BE 39J 6p U J6:JV9 BJ
5pJVE= K95J6 9p/L/ 6p U J6 J 6
9J K95J6 : V=O
O =$*7 F`Gm F' 7<)> F.< n.< 5 G$ ,X<5=$Aoo
U J6 U*r,
K6E6 9J U<Y3 4= @J K@ 7K/K6K5 39J BJ= U J6 ;q /qJ 9J A4VAp=
K9=^V U*r, K6E6K* 'KC/ JV& =R7 U J6 K? K9V=JV5= 7K= 6J 9J >{p
BJK&V>= VV?p "SBL/ U J6 J' 9J 9p9v]J= '6p U 9> ;J K6;gK>K!/ U J6
J=V. U J6 U4 EJ6L J4J>V/ U J6 U;J ;J 39J 6p J 6"/ J<q5J=J
%K>V9 6J <3JH
y=R7 J' 9J 9p9v]J U J6 %J N=L %NKy : K=9J= '6p U J6
9pKyV FAJKB/ V=
66
132
y "SBL/ ;q 9J 9p9v]J 6p U J6 9pKy= 9p9AJ 9JK.'p 9J

%J N=LV/ BvbV{7 V= 39J
" y=R7 U J6 J' 9J 9p9v]J U J6 9pKy= 7PIK' 9J ?r; /JBJ=
_&J6M<JEL 7VEJ" = K5 J= !9q V=O
U J6 U*r, K6EV6= 7K/K6K5 /Tq U J6 K? K9V=JV5= V?p 9J
7K= 6J BJK&V>= >V{p U J6 U4 EJ6L {K/;P> JV'= '6p y
U*r, K6E6 U J6 U4 EJ6L J4J>V/= U J6 ;J;>JE 9J 6pJ6p
J 6"/ J<q5J=JE 4JEL B V9 6J <K4 BJ 7;J. =J <JE U< y
7K/K6K5 U*r, K6EV6= J<qK69qJBL K;K*= V"J%V= 39J BJ=
v K6V4qV?= K97=LV/ y=R7 J' K=EJV&6O
O @=^0 </Y 0> 0# F/< X$<Aoo 6p U J6 J V6 <JBJ K &M 3J N 6J
U 6 U J6 U*r, K6EV6= A4Ap"V.= ;V5p AlJK4/ U J6 %NKy U 9> ;J
J=V. 9JK/> 9J 9JK/>V<J"p B V9 6J U< BJ= U J6 >{p U J6 9p9AJ 9JK.V'p=
'6p 9J5J H
/V9 ?/q 3JV U<
5J=J= K &M U J6 U4 EJ6L J4J>/V =R7 U J6
J 6"/ J<q5J=J "BV.= '6p A;3q K=V9 6J <JBJ U J6 U*r, K6EV6= U J6
A4Ap /JBJV4= U J6 4r9p AJ;"L K9Kz K=V96 K K=V96 6J 9p9AJ %J>J V96
K %J>J V96 6J 39J U J6 J' K=V96 K
K=V96 6J 39J U J6 %J N=L
K=V96 K K=V96 6J
AlV q AlJK4/ U J6 %NKy 9Jvb9JEV6= '6p 39J
BJ :V= J=V. {K/7P=V.= '6p 4JVE= =J BEO
O F Z! =)7) F+!<G02G)0 F0= =~Z 0#Aoo
5=V.= 9J
7 JV== K?V K6VEJK'/ 9J K? 7K=%J>6J=/ 7K/J6}K>V/ "K+/ 4M 9J
/V/JK5 U*r, K6E6 <K4 /JBJV4= AJ5J=. A:JE =R7 7vbJ9 "SBL/ BE
U8,JV=?V6= 4K>> AlJ46 K=EJ U J6 U8,JV=?6 "+6 K=V/ 9G BJ
U=K'Kr =V.= '6p 4=!Jvb K=V/ 7JK=V9 H
/V9 ?/q 3JV U< ?rK; "V.= U J6 U*r, K6E6 ;JK> "V.= U J6 U*r,
K6E6 U8,JV=?V6 9G ;JK> "V.= U J6 U*r, K6E6 ?rK; "V.= U J6 U*r,
K6E6 U8,JV=?V6 U<J"4J6 K=V9 6JO
7 5J=J
K>K!/ U8,JV=?V6= 4K>V> 6pJ6p K9@VE=
;V5p U8,JV=?6:My U*r, K6E6}K> /qS
6MA=.LE J<qz;
9G U8,JV=?6 U8,JV=?6:My U*r, K6E6}K>= K5 J=
4JKE/i Al2V K95J6 3JK V9O
U J6 U*r,
K6E6 U8,JV=?V6= U=K'Kr =V.= '6p U7? T/
133
4=!JVvb U8,JV=?6:My A > U*r, K6EV6= A:J7K/ AJ5J=.

AlJ4 ". 4vb!/ K=V96 9G BJ= AKB/ 7 5J=J
K>K!/ U8,JV=?V6= 4K>V>= K/6K* K7 AG<My 3JK V9O
5J=J= K95J6 AJV7V{
5pJVE= K95J6}K> U*r, K6EV6=
U{V U<=R7 7V<J'p BE U J6 U8,JV=?V6= U{V UA=R7 7V<J'p
B V9O
5J=J= 7V=Jy 75J=JA;PVB <JBJ K &M 3J N 6J U 6
JK5 K?V= U{V U=K'Kr T/ 6Mp6 K9?K* U*r,
K6E6
AKloK>/:JV9 39J AKloK>/ B EJ
K* 'J/LE K:K U*r,
K6E6 U8,JV=?6 "+6 K=V/ 7JK=V9O
O =,,0#>Aoo
U J6 GV='L 7K J 9FA= U?@ B EJ= 7= 7=9/qL
9FA=
U? K7> = ;V5p y 9FA= AGzJeb U J6 U*r, K6EV6= JE
9pVE= 9G Al4 4JVE= KBAJ9 Al2K>/
K* AJ5J=. K99=.L K9K5 J=J
K65qJK=/ 7K/V/ 7v\/ K6=L{. =J EJ ?r; 7K=%J>V = K6 * U7=. K=V/
B V9O
y=R7 AJ5J=. K99=.L U< 9FAV== '6p U7r=. =J B V9 UA
9FAV== U*r, K6EV6= ;q /qJV4= A > 7K=9/q6 74?q6 K=EJ
K* K99=. 9G A9qV?@ AGV?J56L Al2K>/ BJ= "+6/Ve= K*
K7 y AJ5J=. K99=.L= AV ?r; 7K=%J>V = K6 * U7=. K=V/
B V9O
<K4 U J6 U=K'Kr T/ U*r, K6E6 7 5J=J
K>K!/
A;EAL;J= ;V5p y=R7 AJ5J=. K99=.L U7=V. 9p3q BE /JBJ
B V> ?r; 7K=%J>
K* U6JK*? J=J /FAlV q BJV
9KB/
K=V96 9G y=R7 U6JK*? 7JK= K? K4V6= ;V5p <K4 U*r,
K6E6K* BJ= AJ5J=. K99=.L U7=. K=V/ 7M6=JE 9p3q BE /JBJ
B V> BJ= U=K'Kr 9JK/>V<J"p B V9O
<K4 U J6 U*r, K6E6 U J6 U8,JV=?V6= A4Ap BE /JBJ B V>
y AJ5J=. K99=.LV/ y U8,JV=?6K*= 6J; K>K79 K=V/
B V9O
O F/I& '0 3< =3 *r=$=)=(Aoo U< U{V U J6 7K/JV6 K* ;J
U*r, K6E6 3JV UA U{V y 7K/JV6= '6p BJ U<Y3 4= @J K@ 7K/K6K5
9K>EJ ".p B V9O
U< U{V U J6 7K/JV6 JK5 U*r, K6E6 3JV UAV{V U J6
67
134
U*r,
K6E6 39J ;JK>
/4 VV?p 4=!Jvb K=V> ?r;
7K=%J> 4=!Jvb 7JK=
?/ K9? K4V6= ;V5p 7K/JV6 U J6
U*r, K6E6 U<Y3 4= @J K@ 7K/K6K5 B V9 BJ K65qJ=V.= '6p
U"J76 U:JV*= 9p9v]J K=V96O
7 5J=J
= 5L6 U J6 4=!Jvb 7JK= 7= ?r; 7K=%J>
K>K!/ U6JK*? J=J AGK? 7K/JV6= A > U*r,
K6E6V
U6JK*V? K>K!/ A;VE= ;V5p <JBJ 76= K4V6= K5 B V9 6J
BJ= U"J76 9pJ>V* 7K/Kf/J K=V9 K 6J BJ 'J6J 9J= '6p
K6V4q? K4V96O
<K4 U J6 U*r, K6E6 7 5J=J
= 5L6 74 U6JK*V?=
K>K!/ A;EAL;J= ;V5p U"J76 9pJ>V* BJ= 7K/Kf/J AlV q
?r; 7K=%J> V K &M 'J6J V/ 9p3q BE /JBJ B V> BJ y
9pJ>V* 7K/Kf/J K=V9 6J 9K>EJ 9MK(V/ B V9O
<K4 U6JK*V? K>K!/ A;EAL;J= ;V5p U J6 U*r, K6E6 U"J76
9pJ>V* BJ= 7K/Kf/J AlV q ?r; 7K=%J> V K &M 6J 'J6JE
/JBJ B V> U< U*r, K6E6 7 5J=J
= 5L6 4=!Jvb
K=EJV& BJV
y 7K/JV6 U<Y3 4= @J K@ 7K/K6K5 KBAJV9
U#J@.J =J B V9 <K4 7K/JV6 K6<My ?rK; "V.= U;J* AG!pJ=
6Mp6
/T/LEJG? ?rK; BJ= A4Ap 3JV O
?r; 7K=%J> /Tq 6MV=J B V> 7V/p ;JK> /JBJ= 7K/JV6
94>L AJ;KE ?rK; 9p/L/ 6Mp6 K/6 ;JA <J9/ K6<My JV&6
;6 A > ?rK;V = K* /JK> J /JBJ= K6 * U7=. K=V96 9G
y /JK> JE K6;gK>K!/ /3p AK6gV9K?/ 3JK V9 <3JH
7V/p ?rK;V = 6J;
/JBJ= K7/J ;J/J= 6J; 9EA
7V<J'p U{V v2J;L vL= 6J; K4V/ BV9
/JBJ= ?J!J 9J K9:JV"= 6J;
/JBJ= ;qv]V>= 6J;
/JBJ= K*V * 6l2= 9G K6VEJV"= /JK=!O
?r; 7K=%J> /Tq 6MV=J B V> 7V/p ;JK> 7 5J=J
K>K!/ /JK> J= 7VEJ'6LE AG!p
K/K=y K7 A=9=JB
K=V96 9G y=R7 A=9=JB T/ /JK> J= A/p/J <IJ%J K=9J=
'6p 7VEJ'6LE AMV<J" AMK95J= 9p9v]J K=V96O
135
;JK>V = K6 * B V/ ?rK; "V.= /JK> J 7rJK= 7= ?r; 7K=%J>

BJ=
K* K=EJ K7 7K/K/J J=L 7V/p U*r, K6EV6=
K6 * U7=. K=V96 9G K* K7 /JBJ= K8VA= U J6 7 J?p
v]JV6 >* J EJ K4V96 9G JV= K* K7 AGK? 7K/JV6= U J6
7 J?p v]JV6 >* J EJ K4V96 9G BJ= AKB/ K* U6JK*? J=J
BJV/ K65qJK=/ A;VE= ;V5p y /JK> J AlV q JBJ= U J6
J7K 3JK V> /JBJ /JBJ= K6 * U7? K=9J= '6p JB9J6
K=V96O
?r; 7K=%J> K65qJK=/ A;VE= ;V5p U J6 J7K 7J V> K/K6 /JBJ
7VEJ'6LE /4ebJVeb K6u6g K=V96O
?r; 7K=%J> 7 5J=J
= 5L6 /JBJ= 74 KAJeb U;J/JV9
;JK> /Tq A=9=JB T/ ?rK; "V.= /JK> J= 7VEJ'6LE AGV?J56
9J 7K=9/q6 K=V96O
7 5J=J
= 5L6 U J6 AGV?J56 39J 7K=9/qV6= 7=
39J U< U{V ?r; 7K=%J> K65qJK=/ A;VE= ;V5p U J6 J7K
7J6 6J UA U{V y A;E K/9JKB/ B EJ= 7= K/K6 AGK?
7K/JV6 K6<My ?rK; "V.= K* %PCJeb /JK> J 7v\/ K=V96 9G
BJ <3J<3:JV9 7/pE6 K=EJ BJ= K7 AGK? ;JK>
9G
7V/p 7K/K/J J=L U*r, K6EV6= K6 * U:J* "BV.= '6p
K65qJK=/ /JK=V!= eb/ AJ/ K46 7PV9q U7=. K=V96O
7 5J=J
= 5L6 7v\/ T/ 9G 7/pKE/ ?rK; "V.=
/JK> J U:J*J= /JK> J 9K>EJ ".p B V9 9G y /JK> JE U<
?rK;V = 6J; 3JK V9 K/K6 U<Y3 4= @J K@ 7K/K6K5 K65qJ=.L
K69qJ%V6 U:J* U4 EJ= K5 J=L B V96O
7V/p ;JK> ?r; 7K=%J>
/qS
6MV=J B V> K69qJ%6
7K=%J>6J= '6p 7VEJ'6LE A > AMV<J" AMK95J= 9p9v]J K=V96
K e\ K/K6 K69qJ%V6= 9pJ7JV= U J6=R7 BvbV{7 K=V96 6J 9J
U J6:JV9 /JBJ= 7:J9 !J*J V96 6JO
U:J* "B. U Vf4r= 7IE/JK>? K;*JV== ;V5p U J6 9pKy U:J*
7J3q6J K=V/ 7JK=V96 6JO
U<Y3 4= @J K@ 7K/K6K5 K65qJ=V.= '6p U"J76 U:J* "BV.=
VV?p ?r; 7K=%J>
U:J* "BV.= /JK=! K+
K=V96 9G BJ 7V/p 7K/L U*r,
68
136
K6E6V 9G 7V/p ;JK> V 9KB/ K=V96

! U:J* "BV.= '6p K6K4q /JK=V! 7V/p U:J* "B. U Vf4r U:J*
74JV6= '6p 9pJ>* 9J| v]J76 K=V96 9G BJ 7K/L U*r,
K6EV6= 7K/K6K5"V.= 7Kv]K/V/ <K4 3JV 6 AL> K=EJ
K4V96
" U:J* "B. U Vf4r U:J* "B. 7K=%J>6J K=V96 9G y U Vf4r
7K/L U*r, K6EV6= 7K/K6K5".V
7Kv]/ 3JK 9J= AMV<J"
K4V96
# U:J* "B. A;JK= 7= y 7K/K6K5". <K4 7Kv]/ 3JV 6 /JBJ
B V> /JBJV4= 7Kv]K/V/ 9pJ>* 9J| !MMK>V96 9G BJV/ 7J
U:J* ".6J K=V96 9G
$ U:J* ".6J U?V@ U< U*r, K6E6 AV9hqJ_% AG!p U:J* 7J B V9
BJV U<Y3 4= @J K@ 7K/K6K5 9K>EJ U#J@.J K=V96O
U< U{V 7 5J=J
$ = 5L6 U J6 U*r, K6E6V U J6
7K/JV6= '6p U<Y3 4= @J K@ 7K/K6K5 9K>EJ U#J@.J =J BE
UA U{V BJ y U#J@.J= /JK=! B V/ 4M 9FAV== '6p y
7K/JV6 U<Y3 4= @J K@ 7K/K6K5 3JK V9 9G y A;VE= ;V5p
y 7K/JV6 U J6 6P/6 U<Y3 4= @J K@ 7K/K6K5 K65qJ=V.= '6p
U J6 4=!Jvb "B. =J B V9 6J H
/V9 ?/q 3JV U< 7K/J6 7MV= U{V U J6 U<Y3 4= @J K@
7K/K6K5= U;EJ4 B V9 K/6 9FA=O
7 5J=J
U/ <JBJ K &M 3J N 6J U 6 U< U{V U J6 U*r,
K6E6 U J6 7K/JV6 K94p;J6 U<Y3 4= @J K@ 7K/K6K5= U;EJ4
U?@ B 9J= 7= BJ= 7=9/qL U<Y3 4= @J K@ 7K/K6K5 B V/
J"BL 39J U< U{V K94p;J6 U J6 U<Y3 4= @J K@ 7K/K6K5
7=9/qL U;EJV4= '6p U<Y3 4= @J K@ 7K/K6K5 KBAJV9 3JK V/
J"BL UA U{V BJ K94p;J6 U<Y3 4= @J K@ 7K/K6K5= U;EJ4
U?@ B 9J= /JK=V!= 7PV9q
?/ K9? K46 B V/
?/ 7J?
K4V6= ;V5p ?r; 7K=%J>V = K6 * 7=9/Lq U<Y3 4= @J K@
7K/K6K5 K65qJ=V.= >V{p U"J76 U:J* "BV.= 9p9v]J =J= 6MV=J5
'J6J EJ 4=!Jvb U7? K=V/ 7JK=V9O
U< U{V 7 5J=J
= 5L6 U J6 4=!Jvb U7? =J BE UA
U{V 4=!Jvb 7JK= ?/ K9? K4V6= ;V5p y 7K/JV6 7=9/qL
137
U<Y3 4= @J K@ 7K/K6K5 K65qJ=V.= '6p U"J76 U:J* "B. K=V/

B V9 /V9 y K69qJ%V6= 8V> U#JK@/ 7=9/Lq U<Y3 4= @J K@
7K/K6K5 K94p;J6 U<Y3 4= @J K@ 7K/K6K5= U;EJ4 U?@ B 9J=
/JK=! B V/ AGK? 7K/JV6= 7=9/Lq U<Y3 4= @J K@ 7K/K6K5
B V9O
U< U{V 7 5J=J
= 5L6 U J6 4=!Jvb 7JK= 7= ?r;
7K=%J>V = K6Ee. hKB:Pq/ U J6 J=V. K94p;J6 U<Y3 4= @J K@
7K/K6K5= U;EJ4 U?@ B 9J= 7PV9q U J6 7K/JV6= '6p 7=9/Lq
U<Y3 4= @J K@ 7K/K6K5 K65qJ=. =J Alj9 6J BE UA U{V
K94p;J6 U<Y3 4= @J K@ 7rK/K6K5 6P/6 U<Y3 4= @J K@ 7K/K6K5
K65qJK=/ 6J B EJ 7<qeb y 7K/JV6 U<Y3 4= @J K@ 7K/K6K5
KBAJV9 J' %J>J EJ <J V9O
U< U{V 7 5J=J
= 5L6 U J6 4=!Jvb 7J EJ 6J <JE
UAV{V ?r; 7K=%J> K94p;J6 U<Y3 4= @J K@ 7K/K6K5= U;EJ4
U?@ B 9J= 7=
?/ K9? K4V6= ;V5p 6/N6 K69qJ%V6= /JK=!
U#J@.J K=V96
9G K94p;J6 U<Y3 4= @J K@ 7K/K6K5
eb9q/Lq J>L6 A;VE AGK? 7K/JV6 U<Y3 4= @J K@ 7K/K6K5
KBAJV9 J' %J>J EJ <J V96O
U<Y3 4= @J K@ 7K/K6K5 K65qJ=.L K69Jq%V6 U J6 K9@E Al2V U J6
K9V=J5 U4!J K4V> BJ ?r; J4J>V/ U7? K=V/ B V9 9G
K9@VE y J4J>V/= KAJeb %PCJeb B V9O
<K4 U J6 U<Y3 4= @J K@ 7K/K6K5 K65qJ=.L K69qJ%V6 U J6 7K/L
U*r, K6E6 74 U;J* U:JV*= 4? ?/JGV?= ; U:J* 7JE /JBJ
B V> y U*r, K6EV6= U=K'Vr?6 v2/H 9JK/> B EJ <J V9O
U J6 U<Y3 4= @J K@ 7K/K6K5 BJ= 9v]JV6= BJK6 6J K=EJ
5pJVE= 5L6 U J6 J<q5J=JE <JBJV/ BJ K6V'
K* 7{ BJ
A4Ap JV& ;6 U J6 U8,JV=?6V 7{:My K=V/ 7JK=V9O
U J6 7K/JV6= U{V BJ= U<Y3 4= @J K@ 7K/K6K5
?K; V4= %J N=L 6J 3J J C6@9GG ;qBL6/J %J N=L= ?/qJ9>L
39J JV'= 7K=V9? Al2V ;JK>V = AGV" U<Y3 4= @J K@ =J=
! U 9J UpJ. 7K/JV6 39J :K9@p /BK9V> 9G 74? 5pJVE=

5L6 7K/K/ ?K; "V.= G?"B. /BK9V>= *rJK U9JV,q
?rK; "V.= 7K/K6K5 ;V6J6E6 =J= 9G
$
J V6= J /JE U J6
4>9 ?K;V = 7V{ ;J;>J
7K=%J>6J =J= K5 J=L B V9O
J V6= J /JE U#JK@/ U J6 7K/J67MV U<Y3 4= @J K@
7K/K6K5 K65qJ=. 39J K69qJ%V6= U{V
5J=J= K95J6J9>L
7V<J'p B V9O
O =$*7 F`Gm F Z! =)7) F+!<G02) F/I& '0 3< =3 *r=$=)=(
=54<G, <
=0G,Aoo
5pJVE <JBJ K &M 3J N 6J U 6 U J6 U*r,
K6E6 U8,JV=?6 U J6 7K/J6 9J 7K/J6 7MV= U<Y3 4= @J K@ 7K/K6K5
9K>EJ ".p B V9 <K4 y 7K/JV6 BJ= U J6 A4Ap U*r, K6E6 BJ= K69qJBL
K;K*= A:JE "SBL/ U J6 7vbJ9 J=J U8,JV=?6V y 7K/JV6 BJ= 7V{ U<Y3
4= @J K@ 7K/K6K5 KBAJV9 J' K=9J= '6p {;/J 74J6 V= H
/V9 ?/q 3JV U< y=R7 U J6 {;/J 74J6 6MV;J46V<J"p B V9 6J <K4
6J U8,JV=?V6= 9G A4Ap U*r, K6EV6= "+6/Ve y=R7 {;/J 74JV6=
K95J6 3JV O
U J6 U8,JV=?6 U 9> ;J UA 7K/J6 9J 7K/J6 7MV U<Y3
4= @J K@ 7K/K6K5 KBAJV9 J' K=V9 U< 7K/J6 9J 7K/J6
7MV BJ= U J6 A4Ap U*r, K6E6 U<Y3 4= @J K@ 7K/K6K5
KBAJV9 JV&O
5J=J= U J6 K &M 5J=J
= 5LV6 "K+/ 9G
U=K'Kr T/ U J6 'J/LE K:K U*r, K6E6 U8,JV=?V6= U{V
7V<J'p B V9 6JO
OF
+Aoo
U<Y3 4= @J K@ 7K/K6K5 6MV=J5 K=V> U /J= 7K/JV6 ;q=/ ?rK; "V.= <JBJ=J KAK9
K6EV6= A4Ap ;'M=L
B V/ KAK9
K6EV6= /BK9V> U4E /JBJV4= K6K4q 7K=;J. %JI4J
KAK9
K6E6 /qS U7? S/ K,;J U*V;f* = eb:Mqy 7K/K* ?rK;V = 6MV;J46
AJV7V{ JK*EJ J>J4J K=EJ =JK!V96O
U J6 ;JK> 7 5J=J
6MAJV= ?rK; "V.= ;'M=L B V/ *J J
JK*EJ 3JK V> K/q/ AlP.q *J J 7=9/Lq
76= K4V6= ;V5p
AGK? KAK9
K6EV6= KBAJV9 ';J K4V96O
7 5J=J
U;J/JV9 BJ= A4ApV4= ;'M=L B V/ *J J J*J
139
B V/V& K 6J AGK? KAK9 /JBJ <J%J K=V/ %JKBV> ;JK>

BJ= 7P.q AMV<J" 74J6 K=V96O
O 92 r5# <0> =.= Aoo
6Mp6 7J? '6 ?rK; AJ5J=./H ;q=/
JV&6 =R7 7V/p 7K/JV6= ;JK> K9K5 J=J K65qJK=/ 7e]JE /JBJ= 7K/JV6
K* G?"B. J=L K;K* "+6 K=V96O
y K;K* ;JK>
?rK; "V.= 7K/K6K5 A;e2VE "K+/ B V9O
y K;K*V/ ?rK; "V.= 7K/K6K5= AG!pJ ;JK>V = 7K/K6K5=
AG!pJ= ; B V9 6JO
?rK; "V.= 7K/K6K5 7K/JV6= U*r, K6E6A;PVB= ;V6J6EV6=
K:KV/ K6<My B V96O
AGK? 7K/JV6= U<Y3 4= @J K@ 7K/K6K5 9p/L/ 6p 7V/p
U*r,
K6E6 A;AG!p 7K/K6K5 ;V6J6L/ K=V9 9G U<Y3
4= @J K@ 7K/K6K5 ;6 AG!p 7K/K6K5 ;V6J6L/ K=V9 <JBJ
6p U*r,
K6E6A;PVB= U;J* ;V6J6L/ 7K/K6K5"V.= V7{J
'6 U9?L BEO
U< 7K/JV6 U J6 U*r, K6E6 6J UA 7K/JV6= G?"B. J=L
K;K*V/ ?rK; 7K/K6K5". BJV/ ;q=/ ?rK; "V.= ;5p B V/
K9K5 J=J K65qJK=/ 7e]JE ;V6J6L/ B V96O
U< U{V U J6 7K/JV6= 6Mp6 7J? '6 ?rK; K6<My JV&6
;6 U J6 K6* 3JV UA U{V G?"B. J=L K;K*= AM7JK=V?
BJ= '6p K9K5 J=J K65qJK=/ 7e]JE
K* K6* G?"B. J=L
K;K* "+6 =J <J V9O
y K6* G?"B. J=L K;K* ;JK> 9G y K6*
BJ=
5LV6 ;q=/ ?rK; "V.= 7K/K6K5 A;e2VE "K+/ B V9O
G?"B. J=L K;K*= U{V 7V<J'p
5J=J= K95J6J9>L
K6*
G?"B. J=L K;K*= U{V </4P= Alj9 7V<J'p B V9O
O 92 r5# <0> =.= 0 < Aoo
G?"B. J=L K;K*= J' B V9
75J6/H 7K/JV6= 7K/ ?rK; 9G ;JK> A V>= G"L:P/ B EJ= :J9 U7JK3/
7AJ= =J 9G 7K/JV6= 7K/ ?rK; "V.= L J= 4JKE/iV9J5 'J"/ =J
9G K9V?@ K=EJ
?rK;
;JK>V = ;V5p 7J=vK= Jv]J K9?nJA A;V(J/J 9G
ABV<J"L/J 9SK= 7V%J %J>JV6J
! ?r; J V6= 7VEJ" K6K/ =J
70
140
$?'Y2 (X<7
" ?SG!>JV9JV5 FAJKB/ =J K6=J7J U7?J"/ v2Jv]p ={J 9G

JV'= 9v]J= 6gK/ K95J6 AG={V.= 9p9v]J =J
# 9SK;P> 7K?{. ?rK; K?{J 9G 7K=9J= >pJ. 7K?{V.
FAJKB/ =J
$ ?rK;
9G /JBJV4= 7K=9J=9V"q= 7VEJ'6LE >pJ.;P>
9p9v]JA;PVB= 6gEV6= >V{p 9p9v]J "rB. =J 9G
% F7J46 >{p ;JJ 'q6 F7J46?L>/J 9SK F7J46 !=% BsJA
9G 7%E U=J5 =J 9G F7JK4/ 4rV9p= ;J6 6g/ =JO
U J6
K6* G?"B. J=L K;K* ;P> G?"B. J=L K;K*=
//iJ95JV6 7 5J=J
K>K!/ J<qJ9>L </4P= Alj9
AlJ46 K=V9O
O 92 r5# <0> =.= 0 4-<Aoo
5J=J
= 5L6 J<qJ9>L
AlJ4V6= '6p 7VEJ'6LE 9p9v]J= AM7JK=? =J /FAlV q JV>J%6J ;/
K9K6;VE= '6p G?"B. J=L K;K* 7K/ 4M ;JVA eb/
9J= A:JE K;K>/
B V9O
G?"B. J=L K;K*= 7V/p A:J= J<q K99=.L A:J 6MJV6=
AJ/ K4V6= ;V5p ?r; 7K=%J>
AJK>VA= K6 * U7=. K=V/
B V9O
O 92 r5# <0> =.= 0 4?*<=02 ,<\O,<7)Aoo
G?"B. J=L K;K*=
AMK6K4q AM7JK=?;J>J /F /qS K65qJK=/ A;VE= ;V5p 9Jvb9JEV6= '6p 7K/JV6=
;JK>
U*r, K6E6 7VEJ'6LE 9p9v]J "B. K=V96O
<K4 U J6 J=V. ;JK> 39J U*r, K6E6 K65qJK=/ A;VE= ;V5p
G?"B. J=L K;K*= AM7JK=?;J>J 9Jvb9JE6 K=V/ U J6 J=V.
AMK95J U9J5 V=6 /JBJ B V> /FAlV q K;K*V
9KB/
K=V/ B V9 9G BJ <3J?L#r Alj9 9Jvb9JEV6= '6p AljJ9p A >
7V%J "B. K=V/ B V9O
141
=,G0<( =)[=k 2Z. <'<1$ 2Z. <*>1

$X<='
Z< ,?X)<1
< ) $ </Y(<0<
O =2y =,G0<( l<*)Aoo U J6 K? K9V=J5 K94p;J6 JV& 9K>EJ ".p

B V9 6J <K4 6J BJ
5pJVE= K95J6 U;J/JV9 U J6 ;JK>
39J U<Y3
4= @J K@ 7K/K6K5 /qS JK7/ BEO
O =2y =,G0<( =)[=kAoo
<K4 U J6 A;VE U J6 ;JK> 9J U<Y3
4= @J K@ 7K/K6K5 U4K!V/ 7JE U< ;JK> 9G ?rK; "V.= ;V5p U J6 K9V=J5
K/ B 9J= Alj96J JV& /JBJ B V> y ;JK>
39J U<Y3 4= @J K@
7K/K6K5 /JBJ= 9J BJ= K:;/ 9py K=EJ 6p 7{V K>K!/:JV9 'J6J V96O
7 5J=J
= 5L6 7 7JK= 7V6= K4V6= ;V5p 7 7J7
6p7V{= AKB/ JV>J%6JzV; 7V JK7/ K9@VE J>J7
JV>J%6J= ;J5pV;
K* %NKyV/ 76L/ B EJ= >V{p U<Y3
4= @J K@ =^ K=9J= '6p /JBJ= AKB/
K* A:J= 9p9v]J
K=V96 9G =R7 A:J /4 VV?p {;/J7J :E 7V{=
7K/K6K5= ;V5p 6MK/ B V/ 7JK=V9O
<K4 7{". y=R7 JV>J%6J= 7= JV>JK%/ K9@VE= 7= U J6
K6uKV/ 76L/ B6 /JBJ B V> K* K6uK6J;J K>K!/ B V9
9G BJV/ 7{E 4vb!/ K=V96 9G BJ= K* K7 ;JK>
/qS A= J= ?r; 7K=%J> 9G AJK>VA= K6 * U7K=/ B V9O
<K4
7 5J=J
= 5L6 U7K=/ U J6 7V= 7J7 6p 7V{= AKB/
7 5J=J
K>K!/ A;VE= ;V5p A:J= 9p9v]J K=V/ 9p3q
B6 /JBJ B V> y 6p 7{ 39J
! :E 7V{= 7J=vK=
JV>J%6J= ;J5pV; K9V=J5 K6uK= '6p
6MK/ 73; A:J= /JK=! B V/
;JVA= ;V5p 39J :E
7V{= K>K!/ AloK/ 6M<JEL 9K5q/ A;VE= ;V5p U J6 K6uKV/
76L/ B EJ 6J <JE /JBJ B V> UK!/
A;EAL;J U?@ B 9J= 7= 76= K4V6= ;V5p /FAlV q 7 5J=J
K>K!/ 7<My AJK>AV
CB7=@=5HCF 9KB/ K=V/
7JK=V96 9G K9V=J5K* AJK>AL=
CB7=@=5H=CB ;J5pV;
71
142
(Arbitrator) K6 * U7=. K=V/ =J'L B6 /JBJ B V> /JBJV4=

A V>= v2L T/ U J6 ;5pv]/J J=L= (Arbitrator) K6 * K9V=J5K*
K6uK= '6p U<Y3 6MV=J57 U7=. K=V96O
7 5J=J
U/ K>K!/ ;5pv]/J J=L (Arbitrator) A= J=
/qS
/4 VV?p 7v\/ T/ ;5pv]/J J=L= /JK> J B V/ U J6
9pKy B V/ 7JK=V96 39J 7{". /Tq v2L T/ 6p UK!/:JV9 v2L T/ U J6 9K5q/ A;VE=
;V5p /JBJ= U=JVE4J4 74J6 K=V96O
;5pv]/J J=L (Arbitrator) /JBJ= U=JVE4J4 7r4JV6= 7= BJ=
K* K7 7{".V
9G JV= K* K7 A= JV== K6 * U7=.
K=V96O
;5pv]/J J=L (Arbitrator) /qS 74 U=JVE4J4 %PCJeb B V9
9G BJ= K9=^V U J6 J7L> %K>V9 6JO
;5pv]/J J=L (Arbitrator) /Tq K65JqK=/ 6K5 4M 9FA=
7<qeb U J6 U=JVE4J4 W95 3JK V9O
?r; 7K=%J> U J6 K9V=J5 K6uK= v2JV3q 7<My ;V6 K=V> UA (Conciliator) = K6 * B V/ U J6
AJK>AL J<qz; (Conciliation) +J EJ JK6EJ K6V' BJ
%J>J EJ <J V/ 7JK=V96 39J 6p U J6 AJK>A (Conciliator)
= K6 * BJ BvbJeb= K=V/ 7JK=V96 9G V{V
5J=J=
6pJ6p K95J6J9>L 7V<J'p B V9O
5J=JE <JBJ K &M 3J N 6J U 6 U J6 7K/J67M AlV q
U J6 ;JK> "V.= U*r, K6E6 39J U*r, K6E6 U8,JV=?6
U=K'Kr =J B EJV& UA 7K/J67MV= U<Y3 4= @J K@ 7K/K6K5
K? K9V=J5 AlV q y ;JK> "V.= U*r,
K6E6 39J
U8,JV=?V6= AKB/ U<J"JV<J" K=V9 9G y=R7 ;JK> "V.=
U*r,
K6E6 39J U8,JV=?V6= AGV" AlJK4/ K? K9V=J5
K6uK AGzJeb U J6 %NKy AGK? 7K/J67MV= A > ;JK>
?rK; "V.= 7= 9?p 7J>6LE B V9O
O (.Y
1 < Aoo U< 7{ U J6 K? K9V=J5 J76 V= UA
7{ 5J=J
= 5L6 9p3q/J= 7/pE67 7JK= /JK=! B V/ 76= K4V6=
K6uK =J= '6p /JBJV K>K!/:JV9 6MV=J5 K=V/ 7JK=V96O

5pJVE= VV?p A= J= A= J=L U"V'V* 7J76 J=J
BJV/ K>K!/ U J6 K6K4q >J J 39J U J6 K6K4q 7K/J6
9J K?V= '6p 7VEJ'6LE AG!p AJK>A CB7=@=5HCF K6<My
K=V9 9G 7 5J=J
= 5L6 AJK>AL= CB7=@=5H=CB
'6p U J6 6MV=J5
7 5J=J= 5L6 AGK? >J J 9J 7K/J6
9J K?V= '6p K6<My AJK>A CB7=@=5HCF "B. K=V96O
y=R7 6MV=J5 7J B 9J= 4? K4V6= ;V5p AJK>A
CB7=@=5HCF /JBJ= AJK>AL J<qz; CB7=@=5H=CB =^
K=V96 9G K9V=J5 K6uK= '6p :E 7V{= A:J JB9J6
K=V96O
K9V=JV5= 7{". v2EG 39J /JBJV4= ;V6J6L/ 9G :E 7V{=
;V5p 9?p 7J>6LE %NKy AlJ46 K=V/ {;/J7J 7K/K6K5=
;J5pV; AJK>A (Conciliator) = K6 * /F /qS K65qJK=/
/JK=V! A;VE BJK'= B V96O
<K4 AJK>AL= (Conciliation) 8V> K9V=J5 K6uK BE /JBJ
B V> AJK>A (Conciliator) /FAlV q A= JV== K6 *
K*
K=V7J*q U7? K=V96 9G BJ= AKB/ :E 7{ /qS v2J{K=/
K6uK6J;J= K* K7 U7K=/ B V9O
<K4 AJK>A (Conciliator) /Tq K9V=J5 K6uK= '6p 6MV=J5
7JK= K? K4V6= ;V5p K9V=J5K* K6uK 6J BE /JBJ B V> AJK>AL
J<qz; (Conciliation) 9p3q B V9 39J :E 7V{= K>K!/
AloK/zV; JV=J K5 A;E %J>JV6J <J V9O
<K4 AJK>AL J<qz; (Conciliation) 9p3q BE /JBJ B V> AJK>A
(Conciliator) :E 7{V K9V=J5K* K6uK= >V{p BJ U J6
;5pv]/J J=L (Arbitrator) = K6 * U7=. K=9J= '6p =J'L
=J V/ U%J K=V96O
<K4 7{". K9V=J5K* K6uK= '6p U J6 ;5pv]/J J=L=
(Arbitrator) K6 * U7=V. =J'L 6J B6 /JBJ B V> AJK>A
CB7=@=5HCF AJK>AL J<qz; (Conciliation) 9p3q B EJ=
K/6 K4V6= ;V5p BJ 9p3q B EJV&
;V;q
K* 7/pE67
7{".V 74J6 K=V96O
<K4 7{". K9V=J5K* K6uK= '6p U J6 ;5pv]/J J=L=
143
72
144
;V5p 6p 7{V 5;q#* 39J U{;/ >

J V*= U6JK*? 74J6 K=V/
7JK=V9 <JBJV/ U6JK*? 74JV6= 7= 6Mp6 AJ/ K46 9G 6K5 U%Y K4V6= ;V5p
U J6 /JK=! B V/ BJ =^ B V9 BJ= V>! 3JK V9 39J y K9V=J5
J76 J=L 7{ K9V=J5K* K6uK= '6p ?r; J4J>V/ 4=!Jvb K=V/ 7JK=V9 H
/V9 ?/q 3JV UVA= //iJ95JV6
/4 VV?p K9V?@:JV9 6MK/ U J6 U"J76 U:JV*= ;J5pV; BJ= U;J* A4Ap
AG!pJ= 6Mp6 K/6 %/N3qJG? A4Ap 5;q#V*= 7V{ /JBJV4= =JE 7r4J6 V=6O
<K4 U J6 5;q#* 9J > J * =^ B EJ <JE /JBJ B V> K9V=J5K*
K6uK= '6p K9V=JV5 'KC/ UV/ 4=!Jvb
U7? K=V/ 7JK=V9O
<K4 U J6 5;q#* 9J > J * K? K4V6= U9?L v]JEL BE /JBJ
B V> A= J= K>K!/ JV4? J=J BJ K6K@ K=V/ 7JK=V9H
/V9 ?/q 3JV U< A= J= y K? K4V6= 7PV9q UK!/ JV4? J=J U J6 5;q#* 9J > J * K6K@ U#J@.J K=V/
7JK=V9 <K4 A= J=
;V;q AebM BE U< y=R7 9pJB/ 5;q#*
9J > J * '6'L9V6 AJG#JK/ V= J=. B EJV& 39J BJ
'J/LE v2JV3q= BJK6 =O
U J6 '6 >pJ.;P> 7K/JV6= U{V A= J= BJV/ U J6 5;q#*
9J > J * =^ B 9J= 7PV9q 39J 7V= UK!/
JV4? J=J BJ K6K@ U#J@.J K=V/ 7JK=V9O
U J6 U{V A= J= 7 5J=J
39J
= 5L6 U J6 5;q#*
9J > J * K6K@ U#J@.J K=V> A= J= /F{.JF K9V=J5K*
K6uK= '6p ?r; J4J>V/ U7=. K=V9O
?r; J4J>/ K9V=JV5= :E 7{V 6J6L= AMV<J" K4EJ <3J?L#
Alj9 K9V=J5K* BJ= K6 * U7=V.= /JK=! B V/ 6K5 @J* K4V6=
;V5p K6uK K=EJ BJ= U=JVE4J4 74J6 K=V9 H
/V9 ?/q 3JV U< ?r; J4J>/ 7VEJ'6V9JV5 K9V=J5LE U J6 K9@VE
eb9q/Lq U=JVE4J4 74J6 K=V/ 7JK=V9 H
JV=J ?/q 3JV U< U=JVE4J4 74JV6 U J6 K9>Vl2= J=V.
U=JVE4J4 X95 B V9 6JO
?r; J4J>V/= U J6 U=JVE4J4 /F /qS K65qJK=/ A;EAL;J <JBJ
4M 9FAV== K5 B V9 6J 7<qeb 9>9F 3JK V9O
145
<K4 U J6 7K/J6 6P/6 v]JK7/ BE 39J K9V4?L ;JK> J6J5L6 BE

39J K9V4?L ABV<JK"/JE v]JK7/ BE /JBJ B V> y=R7 7K/JV6
F7J46 =^ B EJ= 7=9/qL K/6 9FA= 7<qeb 5;q#* K G9J >
J * K6K@ 3JK V9O
/V9 y=R7 7K/JV6 K/ U J6 K? K9V=J5 K6uK= U{V
5pJVE 9K.q/ 6pJ6p K95J6 7V<J'p B V9O
O =2y =,G0<G(0 `<=POAoo
5J=J
= 5L6 U J6 K? K9V=J5
J76 J=L 7{ <K4
5J=J
= 5L6 BJV/ K65qJK=/ A;VE= ;V5p K9V=J5K*
AJK>AL= ;J5pV; K6uK= '6p U J6 AJK>VA= K6 * 6MV=J5 K=V/
9p3q BE 39J
! 5J=J
= 5L6 'J=L T/ U6JK*V? K>K!/ K6K4q A;VE
5;q#* 9J > J * =^ K=V/ 9p3q BE 39J
" 5J=J
= 5L6 K65qJK=/ A;VE= ;V5p K9V=J5K* K6uK=
'6p ?r; J4J>V/ U7=. K=V/ 39J 5;q#* 9J > J V*=
U6JK*? 'J=L K=V/ 9p3q BE
/JBJ B V> K? K9V=J5K* y=R7 K65qJK=/ A;E 9J /JK=V!= 7=
{Jeb B EJ <J V9O
U< U{V 7 5J=J
= 5L6 U J6 K? K9V=J5 {Jeb B EJ <JE
UA U{V y {JKeb= /JK=! B V/
9FAV== ;V5p
K9@VE=
7= U J6 6P/6 K9V=J5 J76 =J <J V9 6JO
O 2Z. <'<1G$ '0 <\OAoo U J6 U<Y3 4= @J K@ 7K/K6K5 39J U J6
;JK> 39J U J6 ?rK;
J 6 9J U J6 U=JVE4J4 9J U J6 K6uK 9J %NKy=
5L6 9J J=J K6K/ 9J 74 U J6 K5 J= 7VEJV"= '6p ?r; J4J>V/ 4=!Jvb
K=V/ 7JK=V96O
O 2Z. <'<1$Aoo
J V6= VV?p A= J= A= J=L U"V'V*
7rJ76 J=J 7VEJ'6LE AG!p ?r; J4J>/ v]J76 K=V/ 7JK=V9O
7 5J=J
= 5L6
JK5 ?r; J4J>/ 7K/K/ B V>
A= J= y 7J7V6 BJV4= 7V/pV U< >J JE
J V6=
5L6 !K/EJ= 7rVEJ" K=V9 BJ K65qJ=. K=EJ K4V9O
?r; J4J>/ '6 U%EJ=;pJ6 9G /JBJV 7=J;?q U4 EJ= '6p
4M '6 A4Ap A;e2VE "K+/ B V9 /V9 U J6 7=JV5= K9%J= 39J
4?; 9G J4? 5pJVE= 5L6 U J6 K9@E K6uK= U{V BJ
73
146
U 9> ;J U%EJ=;pJ6 A;e2VE "K+/ B V9O

?r; J4J>V/= U%EJ=;pJ6 A= J= /qS
;q=/ U'>J '' 39J
K/K=y U'>J ''"V.= ;5p B V/ K6<My B V96O
?r; J4J>V/= U%EJ=;pJ6 9G A4Ap"V.= K6<MKy= ?/qJ9>L A= J=
/Tq K65qJK=/ B V9O
?r; J4J>V/= 4M '6 A4VAp= ;V5p
'6 ;JK> "V.=
7K/K6K5/i J=L 9G 7='6 ?rK; "V.= 7K/K6K5/i J=L B V96
9G /JBJ=J 7 5J=J
9K.q/ 7e]JE K6<My B V96O
A= J= K9K5 J=J K65qJK=/ 7e]JE A= J=L U"V'V* 7J76 J=J
4M K* A4Ap /JK> J 7vbM/ K=V9 <JBJ=
K*V/ &E'6 ;JK>
7K/K6K5= 6J; 9G 7=K*V/ &E'6 ?rK; 7K/K6K5= 6J; 3JK V9O
7 5J=J
= 5L6 7v\/ T/ A4Ap /JK> J 7K/ 4M 9FA=
eb= 7M6"qK+/ B V9 /V9 y 4M 9FA= U?@ B EJ AVi 7P9q9/qL
/JK> J= eb:Mqy A4Ap". 6P/6 /JK> J A= J=L U"V'V* 7JK7/
6J B EJ 7<qeb /JK> J:My 3JK V96O
?r; J4J>V/= U%EJ=;pJ6 U J6 K6K4q K? K9V=JV5= 6J6L 9J
K6uK= '6p 7 5J=J
K>K!/ :E /JK> J B V/
'6 K=EJ 7K/K6K5V K69qJ%6 K=V96 9G y=R7 K69qJK%/
7K/K6K5E 9G U%EJ=;pJ6 AB JV= y K? K9V=J5 AlV q ?r;
J4J>/ "K+/ B EJV& 9K>EJ ".p B V9 H
/V9 ?/q 3JV U< K? K9V=J5 AGzJeb
JK5 ;J;>J= 6J6L=
'6p U%EJ=;pJ6 y U J B V/ UV/= A4Ap KBAJV9 K69qJK%/ K=V/ 7JK=V96O
U J6 ?r; J4J>/ K6;gK>K!/ K9@VE 66p !K/EJV== K5 J=L
B V9 <3J H
J V6= 5L6 J6L/ U7? T/ 39J 4JVE= T/ U J6 K?
K9V=J5 39J 6p U J6 K9V=J5 39J U J6 7V?g= K9%J= K6uK
! A= J= /Tq U7? T/ U J6 K6uK :G" 39J 9Jvb9JE6 AvK q/
U J6 K9@VE= 6MAJ6 K;;JGAJ K6uK
"
J V6= 5L6 7=J5A;PVB= K9%J= 9G
#
J 6 39J 6p U J6 J V6= 5L6 9J J=J 74 9J 7V4E
6p U J6 {;/J 7VEJ" 39J J<q AlJ46O
<K4 ?r; J4J>V/= U J6 A4Ap J4J>V/= U J6 6J6L= /JK=V!
147
6M7Kv]/ 3JV 6 39J U J6 J=V. BJK'= B V/ 7J=" B6

y=R7 6M7Kv]K/ 9J 7J="/J U J6 ;J;>J= 6J6L= =^V/ B
39J BJ %>J JV> B
/JBJ B V> J4J>V/= J<q5J=J /JBJ=
6M7Kv]K/V/ =^ =J <J V9 39J U{;/ %J>J EJ <J EJ
<J V9 9G /JBJ= 6M7Kv]K/V/ J4J>V/= KAJeb 9J U=JVE4J4
74J6 =J <J V9 9G ?r; J4J>V/= U J6 J' J<q5J=J KAJeb
39J U=JVE4J4 U 9>;J y=R7 6M7Kv]K/= J=V. 39J ?r;
J4J>V/= U J6 ?P6p/J= J=V. 39J ?r; J4J>/ "+V6 U J6
zK*= J=V. X95 B V9 6J 9J BJ= K9=^V U J6 J4J>V/ U J6
7?g J76 =J <J V9 6J H
/V9 ?/q 3JV U< <K4 J4J>V/= U J6 A4Ap U J6 K6K4q ;J;>JE
6M7Kv]K/= 3J U%EJ=;pJ6V 7PV9q
9KB/ V=6 UA U{V
U%EJ=;pJ6 AGK? 7V{= /JK> J B V/ 6p
'6 A4ApV
;V6J6L/ K=V96 H
JV=J ?/q 3JV UJ= =JVE :E 7V{= A4ApV4=
;/J;/ 9?p V>! K=V/ B V9O
U8Y'4J=L J<qK9K5 = 7IEK?/; 5pJVE= K95J6J9>L ?r;
J4J>V/= U{V 7V<J'p B V9 9G y 5pJVE= VV?p ?r;
J4J>/ K* U4 EJ6L J4J>/ 9K>EJ ".p B V9O
A > ?r; J4J>/ *rJ 9Mp6JV>= 5Hvb6 J4J>/ B V9O
O *0<( =, <G00 F`Gm 2Z. <'<1G$0 `.$<
</Y_.Aoo
J V6= K95J6 AJV7V{ ?r; J4J>/ 7=J5 K9%J= JV> </4P= Alj9 U8Y'4J=L
J<qK9K5V/ 9K.q/ AGK{ K9%J= 7K/ 6MA=. K=V9O
J V6= 5L6 7=J5 K9%JV== VV?p U8Y'4J=L J<qK9K5=
5L6 73; U?r.L= ;pJK'VrV*= 7= 6pvb A > {;/J ?r;
J4J>V/= 3JK V9O
7 5J=J
<JBJ K &M 3J N 6J U 6 ?JKvb 74JV6= VV?p
y J<qK9K5= 5L6 UA?6 J4J>V/= 7= 6pvb A > {;/J ?r;
J4J>V/= 3JK V9O
?r; J4J>/ U J6 7=JV5= K9%J= JV> J4J>V/= A4Ap". &JCJ
K9%J= J<q 7K=%J>6J K=V9O
74
148
O *0<( =, <0 <6< )X F <) =,3G7 2Z. <'<1G$0 `.$<

</Y_.Aoo
7=J5 9p/L/
J V6= 5L6 6p U J6 K9@E 7?g 9J
K9V=JV5= K9%J= K6uK= VV?p ?r; J4J>/ K* U4 EJ6L J4J>/ 9K>EJ
".p B V9 9G U4 EJ6L J<qK9K5= 5L6 U4 EJ6L J4J>V/= 7= 6pvb A >
{;/J K6;g9K.q/ {;/JAB ?r; J4J>V/= 3JK V9 <3J H
U J6 9pKy= 7Kv]K/ 9G /JBJV ?73J5L6 '9J69f4L 9G AJ{p
74JV6 9J5p =J
! U J6 4K>> 9J 9v\ BJK'= K=V/ 9J5p =J
" AJ{p "BV.= '6p 39J 4K>> 7=L{J= '6p K;?6 U7=. =J
# U J6 7V{= J4J>V/ 6M7Kv]K/= U{V ;J;>JE /=8J KAJeb
74J6 =J
$
/=8J KAJeb 9JK/> =J
% U J6 7V{= 6M7Kv]K/= J=V. 74 ;J;>J !JK=V'= JV4? 9JK/>
=J
& ;J;>J= V?p 9pJB/ U=J5 =J= >V{p ?r; J4J>/ UL6 JV4? 'J=L K=V/ 7JK=V9O
J 6 AJV7V{ U J6 ?r; J4J>V/ U J6 4=!Jvb 9J 4K>> U7?
=J 74?q6 =J 39J K>K79 =J= '6p 39J BJ B V/ U J6
4K>> U6 EJ= '6p U J6 U J*q K8A 74J6 K=V/ B V9 6JO
?r; J4J>/ 'J=L J= 39J K9V?@ 9JB ;J=8/ 39J U=K'Kr
,J V<JV" 39J :EK95:JV9 U J6 ;J;>J= 7K/7{V ;J;>J
4JVE= =J= 6K5 4? K4V6= ;V5p /JBJ= K>K!/ '9J9 9J J7K
U7? K=9J= '6p K6V4q? K4V9O
?r; J4J>/ <MKy K>K79 K=EJ y A;E 6K5 A9qV;J*
AJ/K46 7<qeb 9SK K=V/ 7JK=V9O
<K4 U J6 7K/7{ U6JK*V? K>K!/ 39J 9K5q/ A;VE= ;V5p
U J6 K>K!/ '9J9 9J J7K U7? K=V/ 9p3q BE /JBJ B V>
;J;>JK* /=8J 6J6LzV; K6uK =J B V9O
U J6 7V{= JV946zV; ?r; J4J>/ A9qV;J* AJ/ K4V6= K5
A;E ;J;>J= 6J6L v]K"/ =JK!V/ 7JK=V9 6J H
/V9 ?/q 3JV U< <K4 ;J;>J= :E 7{ v]K"/JV4? 7J3q6J V=
/JBJ B V> A9qV;J* 6K5 4? K46 7<qeb ;J;>J= 6J6L v]K"/ =J!J
<J V9O
149
<K4 ;J;>J= 4=!Jvb J=L ;J;>J 6J6L= /JK=V! 6M7Kv]/ 3JV

/JBJ B V> ;J;>J !JK=' B EJ <J V9H
/V9 ?/q 3JV U< !JK=' JV4? 74JV6= K/6 ;JVA= ;V5p ;J;>J=
4=!Jvb J=L= JV946zV; !JK=' JV4? 9JK/> =J= !K/EJ=
J4J>V/= 3JK V9O
<K4 ;J;>J= 7K/7{ 6J6L= /JK=V! 6M7Kv]/ 3JV /JBJ B V>
;J;>JK*
/=8J 6J6LzV; K6uK =J B V9O
U J6 ;J;>J !JK=' B EJ= J=V. U< J=V. ;J;>JK* 4JVE= =J
B EJK&> y
J=V. 6P/6 ;J;>J 4JVE= =J 9JK=/ B V9 6J
<K4 6J BJ 6p U J6 J=V. 9JK=/ BE 9G !JK=' B EJ= K/6
;JA 7= 4JVE= =J BEO
<K4 U J6 ;J;>J= A > 7{ ;J;>JK* 7/pJBJ= K=9J= '6p ?r;
J4J>V/ 4=!Jvb V= /JBJ B V> J4J>/ :E 7{V 6J6L
7r4J6 K=EJ ;J;>J= U/
;V;q Ae\ BE U< AGK? K9V=J5K*
JV7JV@ K6uK B EJV&O
?r; J4J>V/= U J6 =JE KAJeb 9J U=JVE4J4 K>K!/:JV9 7 J?p
J4J>V/ 74J6 K=V/ B V9 9G BJ=
K* K7 AGK?
7V/p 7{V U4 EJ B V9O
?r; J4J>V/= =JE KAJeb 9J U=JVE4J4 7V/p U{V ;J;>J
4JVE= =J= /JK=! B V/ @J* K4V6= ;V5p 74J6 K=V/ B V9 <K4
6J 7{". K>K!/:JV9 y A;EAL;J 9SK K=V/ =J'L BE H
/V9 ?/q 3JV U< y=R7 U J6 =JE KAJeb 9J U=JVE4J4
U 9>;J K9>Vl2 74JV6= J=V. X95 B V9 6JO
O 2Z. <'<1G$0 0<7 $X<='0 =,0MGs <*>1Aoo
J 6 AJV7V{
?r; J4J>/ /Tq 74 U J6 =JE KAJeb U=JVE4J4 9J 4V= K9=^V U J6 AG{N
7{ BJ 74JV6= @J* K4V6= ;V5p *rJ 9Mp6JV> J7L> 4JVE= K=V/ 7JK=V9 9G
y=R7 J7LV>= U{V *rJ 9Mp6JV>= KAJeb %PCJeb B V9O
O 2Z. <*>1 Z< ,?X)<1Aoo
J V6= VV?p 9JG>JV4V? K*
?r; J7L> *rJ 9Mp6J> 3JK V9 <JBJ '6 U%EJ=;pJ6 A;e2VE "K+/ B V9 39J
A= J= 7<My K9V9%6J K=V>
'6 U%EJ=;pJ6 9G A= J= /Tq K65qJK=/
AG!p A4Ap A;e2VE "K+/ B V9O
*rJ 9Mp6JV>= U%EJ=;pJ6 9G A4Ap". <K4 3JV 6 A= J= /qS
75
150
A= J=L U"V'V* 7J76 J=J K6<My B V96 9G /JBJV4= %J N=L=

?/qJ9>L A= J= /Tq K65JqK=/ B V9O
*rJ 9Mp6JV>= U%EJ=;pJ6 AMK7; U JV*q= ;q=/ 39J 9A=7J
K9%J=
39J K/K=y K9%J= B V96 9G BJ= U J6 A4Ap
AMK7; U JV*q= ;q=/ 39J 9A=7J K9%J=
39J K/K=y
K9%J= B V96 39J 6Mp6 K/6 9FA= ;q=/ JV&6 9J K&V>6
;6 U J6 U'>J '' B V96O
<K4 U%EJ=;pJ6 U J6 J=V. 6M7Kv]/ 3JV 6 9J /JBJ=
J<qAlJ4V6 7J=" B6 /JBJ B V> A4Ap". <K4 3JV 6 =
;V5p K<K6 U'p K/K6 U%EJ=;pJV6= 4JKE/i 7J>6 K=V96O
U< U{V *rJ 9Mp6JV>= U J6 A4Ap K6<My 3JV 6 UA U{V
U%EJ=;pJ6
J4J>V/= J<q AM%J=^=RV7 Al6g K=9J= '6p
7VEJ'6LE AG!p U9 "+6 K=V/ 7JK=V96 9G y=R7 U9
9J
JK5 A4Ap A;e2VE 39J U%EJ=;pJ6 9G
9J
JK5 A4Ap A;e2VE "+6 =J <J V9O
*rJ 9Mp6JV> K9%J=J5L6 9J K9V9%p U J6 J7L> 9J K9@VE= 6J6L 9G
K6uK 7P.q J4J>V/ B V/ 7JK=V9 39J BJ= U J6 U9V B V/
7JK=V9O
J 6 AJV7V{ ;P> K,zL= K9=^V J7L> 6J6L= '6p U J6
J7L> J4J>/ U4 EJ6L J<qK9K5V/ 9K.q/ U< J<qz; 6MA=.
V= *rJ 9Mp6J> </4P= Alj9 y J<qz; 6MA=. K=V9O
<K4 U J6 K9@VE KAJeb U4 EJ= U{V U9V= A4Ap"V.= ;V5p ;/
7J3q p U4!J <JE /JBJ B V>
K9@EK* AG!pJ"K= A4VAp= <K4 3JV
K:;/ 6M<JEL K6uK
=J B V9 9G
! <K4 U9V= A4Ap". A;J6:JV" K9:y B6 /JBJ B V> /JBJ=J
/JBJV4= K:;/ 9py K=EJ /K q/ K9@VE= 7V= 6J6L= '6p
K9@EK* U%EJ=;pJV6= K6 * U7=. K=V96 9G U%EJ=;pJ6 <K4 K/K6
y U9V= A4Ap 6J B6 /JBJ B V> v2EG K9@EK*= 7= 6J6L
"B. K=V/ 7JK=V96 39J K9@EK* 6J6L= '6p
9J
JK5
A4Ap A;e2VE "K+/ 6p U J6 U9V= K6 * U7=. K=V/ 7JK=V96
9G U%EJ=;pJ6 39J y=R7 6/N6 "K+/ U9V= A4Ap 9J
A4Ap"V.= AG!pJ"K= ;/J6M<JEL K9@EK*= K6uK B V9O
151
U< U{V U J6 U9 U%EJ=;pJ6 9G U J6 A4Ap A;e2VE "K+/ BE

9G BJ= A4Ap"V.= ;V5p U J6 K9@VE ;/ 7J3q p U4!J U4E 9G
A4Ap".
9pJ7JV= A;J6:JV" K9:y B6 UA U{V y K9@E
Al2V U%EJ=;pJV6= KAJeb 7J5J6p 7J V9 9G U9V= KAJeb
U%EJ=;pJV6= K:;/ U;J/JV9 7 J? =J B V9O
*rJ 9Mp6J> J7LV> ?r; J4J>V/= U J6 =JE KAJeb U=JVE4J4 9J
4JV4? 9BJ> =JK!V/ AGV?J56 9J 7K=9/q6 K=V/ 9J 9JK/>
K=V/ 7JK=V9 39J ;J;>JK* 7M6=JE 6J6L= '6p ?r; J4J>V/
U8=/ 7J+J V/ 7JK=V9 9G 6p K:6g=R7 K &M 6J 3JK V>
*rJ 9Mp6J>
J V6= 5L6 74 ?r; J4J>V/= A > {;/J
7VEJ" K=V9O
*rJ 9Mp6JV>= =JE J7L> 4JVE= K=9J= 6K5 @J* K4V6= ;V5p
74J6 =J B V9 H
/V9 ?/q 3JV U< y=R7 U J6 =JE U 9>;J K9>Vl2 74JV6=
J=V. X95 B V9 6JO
*rJ 9Mp6J> BJ= 39J U J6 ?r; J4J>V/= 9;J66J= '6p ?JKvb
K4V/ 7JK=V9 U<6 BJ AM7L; U JV*q= K* BJ V J*q K9:J"O
*rJ 9Mp6J> <K4 7 5J=J
= 5L6 U J6 9pKyV U'V>=
JV4? U4E 39J 4M ?/ *J J= K5 'K=;J6J V= /JBJ B V>
y ?JKvb7J 9pKy BJ V J*q K9:JV" J7L> 4JVE= K=V/
7JK=V96O
*rJ 9Mp6J> v2 _&JE 39J U J6 7V{= 4=!JVvb= 7K=V7K{V/ U J6
;J;>J
?r; J4J>/ B V/ 6p ?r; J4J>V/ BvbJeb= K=V/
7JK=V9O
A > ?r; J4J>V/= 7= *rJ 9Mp6JV>= //iJ95J6 K6Ee. {;/J
3JK V9O
O '0 <\O ,< <*>G10 +0.Aoo U J6 ?r; J4J>V/ U J6 4=!Jvb 39J
*rJ 9Mp6JV> U J6 J7L> K9K5 J=J K65qJK=/ 8=V; U7? K=V/ B V9 9G BJV/
K9K5 J=J K65qJK=/ K9@E &JCJ K6;gK>K!/ K9@EA;PB K>K79 3JK V/ B V9
<3J H
7{"V.= 6J; K+ J6J
! 4=!Jvb 9J J7LV>= J=V.=
K* AGK{ 9.q6J 9G 7J3Lq/
7K/ J=
76
152
" U< J V6= K95JV6= 5L6 4=!Jvb 9J J7L> U7? 9G 7K/ J=

7J3q6J =J B EJV& BJ= V>!
# 4=!Jvb 9J J7L> K9>Vl2 U7V?= U{V y K9>Vl2= J=. 9G U<
J V6= 5J=J= 5L6 K9>l2 ; N8 7J3q6J =J B EJV& BJ=
V>!
$ 4?; 5pJVE= 5L6 U J6 4=!JVvb= U{V 4=!Jvb J=LV 7V4E
;JKA ;P> ;'M=L ;BJ#q:J/J ,B
39J eb9q/Lq ;'M=L <K4
3JV
9G ;'M=L= AGV" 7V4E 6pJ6p 3q 7S3 :JV9 74q?6 K=EJ
K* K99=.
% J4? 5pJVE= 5L6 U J6 ;JK>V = K9=^V {K/7P=. V>= '6p
U J6 4=!JVvb= U{V ;JK>V = 7= 4M#q*6J= U6JK*? 'J=L=
/JK=! 9G y=R7 U6JK*? <K4 'J=L 6J =J BE 39J A;E;/
'J=L =J 6J BE /JBJ B V> BJ= J=.
& J4? 5pJVE= 5L6 U7J@p". /Tq {K/7P=. V>= '6p 4=!Jvb
U7V?= U{ 9p/L/ 6pV{V U< A;vb K9@VE %NKyV/ 76L/
B EJV&6 9G U< A;vb K9@VE %NKyV/ 76L/ B EJ Alj9 BE 6J
/JBJ= AGK{ K99=.
' K99JV4= J=. djV9= /JK=! 9G
( ?r; J4J>/ /qS 4=!Jvb "BV.= !K/EJ= AlV q K* K99SK/O
<3JH
K9V=JV5= A > 7{".
! <K4 6J J4J>/ K:6g=R7 K6V4q? U4E /JBJ B V> ?r; J4J>V/=
K6V4qV? K9V=JV5= 7{ KBAJV9 ;J;>JE BJK'= T/ 6p U J6 7{
" U J6 K9V=J5 U< 7K/J6 AGzJeb UA 7K/JV6= ;JK> U J6
K9V=JV5= 7{ B V> /JBJ= =JK5 J=L 9J v2/i 7J7 U J6 9pKy
9G
# U< U{V K9V=JV5=
7{ U<Y3 4= @J K@ 7K/K6K5 UA U{V
K9V=J5K* U< 7K/J6 AGzJeb UA 7K/JV6 K9V=J5K* K/ B 9J=
/JK=V! K6VEJK'/ K&V>6 39J 7V= K6VEJK'/ B EJV&6 =R7
A > ?rK; O
AJK>AL J<q5J=J 9p/L/ 6p U J6:JV9 ;JK>
9G /JBJ=
7K/JV6= ?rK; "V.= U J6 U*r, K6EV6= ;V5p AlJK4/ %NKy=
;J5pV; 76L/ U J6 K6uK %MKy:My A > 7V{= 7= 9?p
7J>6LE B V9O
O =)[=k $X<=' ,1,8 0 $<=0 Aoo
U J6 K6uK
<K4 U J6 K9V=JV5= 7{"V.= ;V5p U J6 Alo/ K46 3JV
y K46
B V/ 9G
! <K4 y=R7 U J6 Alo/ K46 6J 3JV /JBJ B V> 7{". /Tq
K6uK6J;J v2J{V== /JK=! B V/ 9>9F B V9O
U J6 K6uK 7{". /Tq Alo/ U;EJ4 7<qeb 9>9F 3JK V9 9G
<K4 =R7 U J6 Alo/ U;EJ4 6J 3JV /JBJ B V> BJ 7{".
/Tq K6uK 6J;J v2J{V== /JK=! B V/
9FA= 7<qeb 9>9F
3JK V9O
7 5J=J
K>K!/ U;EJ4 U?@ B 9J= 7= y K6uK
7{"V.= 7= 9?p 7J>6LE 3JK V9 </{6 7<qeb K6uK= J=J
K/K6 J= 9J5p 3JK V96 6Joo ;V;q U J6 7{ 6p U J6 7{V
K>K!/:JV9 9KB/ 6J V=6 9G y=R7 9KB/ =V.= 7= 4M
;JA K/9JKB/ 6J BEO
?r; J4J>V/= U J6 U=JVE4J4 *rJ 9Mp6JV> BJ= K9=^V U J6
J7L> 4JVE= =J 6J B V> y J4J>/ /Tq K65qJK=/ /JK=!
B V/ J<q = B V9 9G /F /Tq K65qJK=/ U;EJ4 <JBJ 4M
9FAV== K5 B V9 6J 7<qeb 9>9F 3JK V9O
O .<.1<7 *` G#0 *=\L=$Aoo AJ{p U4 EJ= '6p 7Kv]K/= U{

9p/L/ 6p U J6 U{V ?r; J4J>V/ 39J *rJ 9Mp6JV> U J6 9pKy= 4=!Jvb U7?
BJK'=J 74J6 39J 6p U J6 J' K/K6 v2EG 39J /JBJ= K6 * B V/
K>K!/:JV9 {;/J7J U J6 7K/K6K5 9J J 6'L9L= ;J5pV; K=V/ 7JK=V96H
/V9 ?/q 3JV U< y 7K/K6K5 9J J 6'L9L AGK? J4J>V/= U J6
7K/K6K5 B V/ 7JK=V96 6JO
O .<.1<0 0 Aoo ?r; J4J>/ 39J *rJ 9Mp6JV> U;J ;J 9J J7L>
AlV q J6M@K A > !=%
J 6 9J U J6 K9K5 AJV7V{ y J4J>V/=
K9V9%6J ;V/ 7V4E B V9O
O =)[=k $X<=' <5<0 *0 ,2X *<1)>7 5 G,Aoo
U J6 AJK>AL
J<q 5J=JE 76L/ U J6 K6uK 39J U J6 ;5pv]/J J=L= 74 U=JVE4J4 39J
?r; J4J>V/= U J6 =JE KAJeb 9J U=JVE4J4 39J *rJ 9Mp6JV>= U J6 =JE KAJeb
9J U=JVE4J4 K6;gK>K!/ 9pKy"V.= 7= 9?p 7J>6LE B V9
153
77
154
;5pv]/J J=L ?r; J4J>/ 39J U{;/ *rJ 9Mp6J> U J6

U=JVE4JV4= eb:Mqy K9K:6g 4J9L U J6 U J6 /JK=! B V/ 9>9F
B V9 9G U J6 U J6 A;EAL;J= ;V5p BJ= 7V/p K* <q =
K=V/ B V9 /JBJ K65qJ=. K=EJ K4V9O
<K4 U J6 A;E 7 5J=J
39J
K>K!/ U;EJ4 U?@
B 9J= 7PV9q U=JVE4J4 J=J 9J5p U J6 7{ U=JVE4J4 74J6 J=L ?r;
J4J>V/= K6 * BJ= U;EJ4 ;J 9J= '6p
J=V. 4=!Jvb
V=6 U< U< 9v]J= 7K=V7K{V/ U=JVE4J4 74J6 =J B EJK&>
BJ= 9v\"/ 7K=9/q6 #K*EJV& /JBJ B V> ?r; J4J>/
7rK/7{V
6J6L= AMV<J" 74J6 K=EJ A;L%L6 ;V6 K=V>
JV4? J=J y U;EJ4 JV4V? K>K!/ /JK=V! 9AJ6 K=V/
7JK=V9O
U J6 U=JVE4J4 AGzJeb J7LV> 7r4 *rJ 9Mp6JV>= KAJeb
U=JVE4JV4= /JK=! B V/ 9>9F B V9O
7 5J=J
39J
= 5L6 U J6 U=JVE4J4 9>9F 3J J=
U;EJ4 U?@ B EJ AV/i
BJ 7{"V.= 7= 9?p 7J>6LE
3JK V9 </{. 7<qeb U=JVE4J4 J=J K/K6 J= 9J5p 3JK V96 6J
;V;q U J6 7{ 6p 7{V K>K!/:JV9 9KB/ 6J V=6 9G
y=R7 9KB/ =V.= 7= 4M ;JA K/9JKB/ 6J BEO
5J=JE <JBJ K &M 3J N 6J U 6 K9V=JV5 'KC/ 7{". /qS
U J6 K6uK6J;J v2J{V== /JK=! B V/
9FA= K/9JKB/
B 9J= 7PV9q 39J K6uK 9J U=JVE4J4 = U;EJ4 U?@ B 9J=
/JK=V!= 7PV9q <JBJ 7V= BE U J6 K? K9V=J5 39J /FAGzJeb
U J6 J<q5J=J 7M6=JE J76 9J =^ =J <J V9 6JO
O </Y(<0<0 z0M F23Aoo
U J6 AJK>AL J<q5J=J 5J=J
= 5L6 AJK>A /qS AJK>AL =J= 6MV=J5 7JK= /JK=! B V/ =^ B EJV&
9K>EJ ".p B V9O
U< U{V U J6 AJK>AL J<q5J=JE U J6 K6uKV/ 76L/ B EJ
<JE UA U{V K9V=JV5 'KC/ 7{". /Tq K6uK 6J;JE v2J{V==
/JK=V! y J<q5J=J U?@ B EJV& 9K>EJ ".p B V9O
U< U{V U J6 AJK>AL J<q5J=JE U J6 K6uKV/ 76L/ B EJ 6J
<JE UA U{V
<K4 5J=J
= 5L6 U J6 K9V=J5 K6uK= '6p
155
;5pv]/J J=L= K6 * U7=. =J BE /JBJ B V> ;5pv]/J J=L /Tq

U=JVE4J4 74JV6= /JK=V! 39J
! <K4 K9V=J5 K6uK= '6p ;5pv]/J J=L= K6 * U7=. 6J =J BE
/JBJ B V> AJK>AL J<q5J=J 9p3q B EJV& ;V;q AJK>A /qS 9p3q/J=
7/pE67 74JV6= /JK=V!
y J<q5J=J U?@ B EJV& 9K>EJ ".p B V9O
U J6 K9V=J5 7?g 9J K9@E ?r; J4J>V/ U7? =J= /JK=! B V/
BJV/ /FAGzJeb ;J;>J =^ B EJV& 9K>EJ ".p B V9O
?r; J4J>/ U J6 ;J;>JE U< /JK=V! BJ= =JE KAJeb 9J
U=JVE4J4 74J6 V= UA /JK=! B V/ y J4J>V/ /FAGzJeb
;J;>J U?@ B EJV& 9K>EJ ".p B V9O
O </Y(<0< =)[)R &< < <G1 (.Y ,< 1 < G 0 F)<= 2 <0>0 *0
,<(< =)G3(Aoo U< A;E K? K9V=J5 AGzJeb U J6 K9@VE AJK>AL J<qz; %K>V/
3JV
39J /FAGzJeb U J6 ;J;>J ?r; J4J>V/ %K>V/ 3JV
39J *rJ 9Mp6JV>
U J6 J7L> %K>V/ 3JV UA A;E K9V=JV5 'KC/ U J6 7{ 6p 7V{= 7V=
5;q#* 9J > J V*= U J6 U6JK*? 'J=L K=V/ 7JK=V96 6JO
O 2Z. <'<1$
Z< ,?X)<G10 (.Y ,< 1 <
=)=3s 0<0
`.$<Aoo
U< U{V U J6 K? K9V=J5 6MAJV= U J6 5;q#* 39J > J *
K/;V5p =^ B EJV& 9G ?r; J4J>V/ y K? K9V=J5 AlV q U J6 4=!Jvb
U7? K=9J= A;E 39J J4J>/ /qS BJ K9V9%6J JV> y 5;q#* 9J >
J * 9pJB/ 3JV UA U{V ?r; J4J>/ K>K!/ JV4? J=J y 5;q#* 9J
> J * %J>J EJ <J EJ K6K@ K=V/ 7JK=V9O
U< U{V K? K9V=J5 AGzJeb U J6 K9@VE *rJ 9Mp6JV> U J6 J7L>
4JVE= =J BE UA U{V *rJ 9Mp6J> K>K!/ JV4? J=J J7L>
4JVEV== /JK=V! y K? K9V=J5 6MAJV= 9pJB/ JV& =R7
U J6 5;q#* 9J > J * %J>J EJ <J EJ K6K@ K=V/ 7JK=V9O
O F, < )> (.Y
1 < Aoo
U J6 5;q#* 9J > J *
U9 J 6L B V9 <K4
K9V=JV5 'KC/ 6p 7{V K9K5 J=J K65qJK=/ 7e]JE 5;q#* 9J >
J V*= U6JK*? 74J6 6J K=EJ 39J 74 U6JK*V? K>K!/
78
156
/JK=V!= 7PV9q 9J 7V= 39J 5J=J

= K95J6 U!>J7 K=EJ BJ
U#J@.J 9J =^ =J BE 39J 9pJB/ =J!J BE
! 5J=J
K>K!/ K95J6 U;J/JV9 9p/L/ 6p U J6 7e]JE
JK7/ U J6 K? K9V=J5 6MAJV= BJ U#J@.J 9J =^ =J BE
39J 9pJB/ =J!J BE
" 5J=J
39J
= 5L6 74 U J6 JV4? >G#6 K=EJ BJ
9pJB/ =J!J BE 39J
# U J6 K6uK 9J U=JVE4J4 9>9F 3J J JV> BJ= eb:Mqy U J6
K9@VE BJ U#J@.J 9J =^ =J BE 39J 9pJB/ =J!J BEO
U J6 U9 J 6L 5;q#V*= 8V> U#JK@/ U J6 > J * 9G U J6
U9 J 6L > J V*= 8V> U#JK@/ U J6 5;q#* U9 J 6L 9K>EJ
".p B V9 6JO
7V=J{:JV9 6p U J6 AMK95J 9J V<J"p/J5L6 B V96 6JO

7 5J=J
= U J6 K95JV6= >G#6 U J6 K? K9V=JV5= K9@E9v\
B V/ 7JK=V9 9G U J6 U*r, K6EV6= "+6/Ve BJ= K69qJBL
K;K* 9G A4Ap"V.= ;V5p K9V=J5 K6uK= '6p 9K.q/ 7e]J
AlV q U J6 K &M 7 5J=J
= 5L6 =K{/ 9J 74 U J6
K5 J= 9J U=BJ 9>9F AGzJeb U J6 J<q5J=J= U{V 7V<J'p
B V9 6JO
y=R7 U J6 J<q5J=JE ?r; J4J>/ U*r, K6EV6= A4Ap 74
B V/ 9KBvZT/ U J6 9pKyV /JBJ= A4Ap 7V4 7M6=JE 9BJ> =J=
JV4? U4 EJ= 7K=9V/q K%/ ;V6 K=V> AGK? U*r,
K6EV6= /BK9> B V/ /F /Tq K65qJK=/ 3q {K/7P=. KBAJV9
y 9pKyV 74JV6= '6p K6V4q? K4V/ 7JK=V9O
O </Y(<0< =)[)R &< < <G1 < @0>0 2$Y<,1> *=0,=$Y$ &<= G,Aoo
K? K9V=J5 AGzJeb U J6 K9@VE U J6 AJK>AL J<q5J=J %>J JV> 39J
;5pv]/J J=L ?r; J4J>/ 39J *rJ 9Mp6JV>= K6 * U J6 J<q5J=J %>J JV> U J6
;JK> K9V=JV5 'KC/ U J6 ?rK;V = y J<q5J=J =^ B 9J= 7PV9q 7V<J'p
%J N=L= ?/qJ9>L /JBJ= AMK95J BE ;6:JV9 7K=9/q6 K=V/ 7JK=V96 6J 39J
AJK>A ;5pv]/J J=L ?r; J4J>/ 39J *rJ 9Mp6J> <!6 U<!JV6 9J <JBJ= K6 V*
y=R7 J<q5J=J %K>V/ 3JV
= K96J 6M;K/V/ y K9V=J5 AlK q/ 6VB ;6
A4J%=V.= '6p 9p/L/ y=R7 ?rK; V %J N=L B V/ K,A%J'q 9=!Jvb 9J 6p
U J6:JV9 ?JKvb K4V/ 7JK=V96 6J 39J /JBJ= %J M=L= 9AJ6 K=V/ 7JK=V96 6JO
7 5J=J
<JBJ K &M 3J N 6J U 6 ?r; J4J>V/= 7P9q
6MV;J46 9pK/V=V
y 7 5J=JE K>K!/ U J6 J<qz;
%J>J JV> U*r, K6EV6= U J6 ;q /qJV K,A%J'q 9=!Jvb 39J
6p U J6:JV9 A4J%=V.= '6p ?JKvb U4 EJ <J V9 6JO
O *` G#0 *r=$=)=($SAoo U J6 K? K9V=JV5 'KC/ U J6 ?rK;

5pJVE= 5L6 U J6 J<q 5J=JE /JBJ= 7K/JV6= U<Y3 4= @J K@ 7K/K6K5=
U J6 ;q /qJ= J=J /JBJ= 7K/K6K5/i =J V/ 7JK=V96 9G 7 5J=J
9G
= K95J6 AJV7V{ K? K9V=JV5 'KC/ U J6 ;JK> /JBJ= K6 * B V/
{;/J7J U J6 9pKyJ=J y J<q5J=JE /JBJ= 7K/K6K5/i =J V/ 7JK=V96O
5pJVE= 5L6 U J6 AJK>AL J<q5J=JE K? K9V=JV5 'KC/
U J6 7{ U J6 J 6'L9L= J=J 7K/K6K5/i =J V/ 7JK=V9 6JO
K? K9V=JV5 'KC/ U J6 7{ ;5pv]/J J=L= AloMV! U J6
J<q5J=JE /JBJ= 6M;K/zV; U J6 J 6'L9L= J=J 7K/K6K5/i
=J V/ 7JK=V9O
O =)[=k F0<G7'<G'0 ,X< X<Aoo
U J6 K6uK 9J U=JVE4JV4=
U J6 5J=J= 9pJ!pJ 7AGV" U J6 AMK95J 9J AVf4B U4!J K4V> BJ *rJ 9Mp6JV> U7?
=J B V9O
*rJ 9Mp6J> AGK? 7{".V 6J6L= AMV<J" 4J6 K=EJ K9@EK*=
K6uK K=V9 9G /4K9@VE BJ= KAJeb %PCJeb B V9 9G
7{"V.= 7= 9?p 7J>6LE B V9O
O =$*7 ,X=^0 =( <0 $X<=' 0`#Aoo

U J6 9pKy U J6
U9 J 6L 5;q#* 9J U9 J 6L > J V* G?"B. K=V/ 39J G?"B. 9pJB/
=JK!V/ v2L J= K=V> K/K6 UA J=V. U J6 U*r, K6E6 B V/ 9KBuZJ=V<J"p
B V96 6J 39J U J6 4 9J 'K=;J6J5L6 B V96 6J 39J K/K6 9J /JBJ= U J6
J 6"/ 7K/K6K5 6p3JE 7J V/6
= ; U J6 AMK95J 9J K5 J= B V/ 9K/
B V96 6J 39J AGK? U*r, K6EV6= 6pJ6p A4VAp= /N>6JE 7/p{ 9J
157
79
158
*g'2 (X<7
9JG>JV4V? 7K=%JK>/ U J6 9p9AJ 9JK.'p AGv]J 39J 6p U J6

JV'= 7= JV=J76LE
& K? AlK q/ J' ;q 3q ;6 U J6 J' ;q <JBJV/ 9p9/
?Ky ;J6M@ 9J 7 J=J F76g 6E 9G <JBJV/ U 9>;J <JKe :JV9
AJK>/ W94MpK/ <JKe /J7LE J.K9
39J 6p U J6
7 JV== ?Ky= 9p9BJ= 'KC/ 3JV
9G <JBJ K6;gK>K!/
9J
JK5 J' V;q= AGV" AGK? JV& <3J H
U J6 4r9p 9J 9v\V 7v\/ AGV<J'6 K6!MI/ 39J 6p U J6
v2J:JK9
39J TK; 7KzEJE JK6EJ BJ= JK4 9v]J=
7K=9/q6 AJ56 39J BJ= ;P>p 9SK =.
'JBJ' K6;Jq.
7JK6 ?KyAB W94MpK/ ?Ky= 7K=9/q6 F7J46 =R7Jeb=
AJ>6 39J K9/=.
U/> 9G "pJVA= K;?r. 7K=V?J56 9J U?J56AB !K6 U/>
N7 39J !K6' ; 'MV4= 6pJ6p FVA J'
U/> 39J "pJA K9/=. K97.6
J J? 9J A;M4r 7V3 ;J6M@ 39J ;J>J;J> 7K=9B6
9G A= J= /Tq A= J=L U"V'V* 7J76 J=J
5pJVE=
VV?p K? AlK q/ J' ;q 9K>EJ U#JK@/ 6p U J6 J' ;q
BJ= eb:Mqy B V9 9G
'
U J6 U JlJ6L= ?rK; 9K>V/
9pKyV 9M(J V9 K<K6 74
;<qJ4J K6K9qV?V@ y U JlJ6LV/ 6Mp6 &E;JA <J9/ %J N=LV/
K6<My =KBEJV&6 /V9 K6V;gJy U J6 9pKy
J V6= J /JE
?rK; AGJ= eb:Mqy B V96 6J
9p9v]J76J K G9J 7?JAK6 4JKEV/i K6<My 9pKy
/4J=K
/TqV/i K6<My 9pKy K<K6 74JK5 J= 9V> 9J /JBJ=
7= K7q/ {;/J9V> 9p9v]J76J 9J 7?JAK6 5=V6= J'
K=EJ 3JV 6O
5pJVE U J6 U JlJ6L= 7K=V?JK5/ ;P>56 9G v]JEL
AlV4= ;P>p 9K>V/ K9V4V? AGK9K59 U J6 U JlJ6L= U{V
9JG>JV4V? 9Kv]/ U J6 ?J!JE K6VEJK'/ BJ= ;P>56 v]JEL
AlV4= ;P>pV 9M(J V9O
O 92 r5# $5=,1
1X<# $5=,1 \L<*)Aoo
5pJE 7U<J'p
F <U<)>0 .?)<+<7 2Z=.G 0 92 r5#

O (X<G70 *rG7< Aoo
5pJE K? AlK q/ J' V;q K6VEJK'/
;6 A > 7K/JV6= U{V 7V<J'p B V9 <JBJ=J U JlJ6L 9G K6;gK>K!/ U5V6= 7K=;J. 6Pp6
U JK* *J J
" U J6 U JlJ6L= KBAJ9 9FAV== U?@ K4V6 BJ= v]JEL AlV4= ;P>p
6Mp6 4M U JK* *J JO
A= J= A= J=L U"V'V* 7J76 J=J BJV/ K>K!/ 6p U J6
U JlJ6L= U{V
5pJE 7VEJ" K=V/ 7JK=V9O
O =,G23 49f<Aoo
K9@E 9J 7AGV"= 7K=7e]L U J6 K &M 6J 3JK V>
5pJVE
G?"B. /BK9> 3q
5pJVE= 5L6 v]JK7/ ?rK; G?"B.
/BK9>
! >pJ. /BK9> 3q
5pJVE= 5L6 v]JK7/ ?rK;
>pJ.
/BK9>
" U JlJ6L 3q U JlJ6L J 6
= V3q U J6 U JlJ6L
9G K6;gK>K!/ 7K/J6}K> BJ= eb:Mqy B V9 <3J H
J7J//H 9>9F U J6 J V6= J=J 9J 5L6 v]JK7/ U J6
AGK9K59 AGv]J
A= J= /Tq A= J=L U"V'V* 7J76 J=J
5pJVE=
VV?p U JlJ6L 9K>EJ U#JK@/ U J6 7K/J6 AGv]J 9J
AK;K/ AGK9K59 B 9J 6J B
# /BK9> 3q G?"B. /BK9> 9G >pJ. /BK9>
$ G?"B. /BK9> 9G >pJ. /BK9> AlV q U9J,q 3q
5pJVE= 5L6 "K+/ *rJK U9J,q
% U J6 U JlJ6L AlV q ;M6J8J 3q U JlJ6L J 6
=
5J=J
"
AGJKE/ ;6 6L* ;M6J8J <JBJ U JlJ6L=
159
80
160
BE =R7 7V/p U JlJ6L

5pJE 7V<J'p B 9J= /JK=! B V/
;JVA= ;V5p
5pJVE= K95J6 U;J/JV9
K* ?rK; G? "B. /BK9>
K*
?rK; >pJ. /BK9> v]J76 K=V9 9G
! 7V/p 9FA= BJ U?@ B 9J= 6Mp6 6E ;JVA= ;V5p y 9FAV==
6L* ;M6J8J= 7JI% ?/JG? G?"B. /BK9>
>pJ. /BK9V>
H
6M7JV/ 7r4J6 K=V9O
7 5J=J
! = 5L6 y /BK9>VE 74 3q U< 9FAV==
'6p 74J6 =J B V9 UA 9FA= U?@ B 9J= 9p9KB/ 7V==
9FAV== 7VB>J /JK=V! BJ /BK9>VE 9=J B EJV& 9K>EJ ".p
B V9O
K=EJ JV4? J=J

BJV/ K6K4q U;EJV4= '6p U9J,q 9JK/> K=V/ 7JK=V9 39J
A4ApK*V /JBJ= 74 B V/ 7AJ=. K=V/ 7JK=V9 9G
! *rJK U9J,q 7M6"qK+/ 6J B EJ 7<qeb 9J y A4VAp= 7V4 6P/6 A4Ap
;V6J6L/ 9J K69qJK%/ 6J B EJ 7<qeb U9JV,q= 9J y A4VAp= {;/J
4JKE/i JV4V? K>K!/ 9pKy /qS 7VEJ" 7J>V6= '6p
K6V4q? K4V/ 7JK=V9O
7 5J=J
= 5L6 *rJK U9J,q 9JK/> B 9J= 7= BJ=
A4Ap". /JBJV4= 7V4 J= 9BJ> 3JK V96 6J 9G
5pJVE 9J
U J6 K9K5V/ *rJK U9JV,q= V>! 3JK V> BJ y 7 5J=J=
5L6 74 JV4V? K>K!/ 9pKyV 9M(J V9O
9JK/V>= U;EJ4 U?@ B 9J= 7PV9q
5pJVE= K95J6 6M<JEL
*rJK U9J,q 7M6"qK+/ B V9 <JBJV/ BJ y U;EJ4 U?@ B 9J= 7=
BJ= J<q:J= "B. K=V/ 7JV=O
O 'jAoo
U< U{V U J6 U JlJ6L 5J=J
= 5L6 K95J6}K>
;JK6V/ 9p3q BE UAV{V A= J= JV4? J=J y JV4V? K>K!/ A;VE=
;V5p y K95J6}K> ;JK69J= '6p K6V4q? K4V/ 7JK=V9O
<K4 y U JlJ6L y K65qJK=/ A;VE= ;V5p JV4? 6M<JEL J'
K=V/ 9p3q BE /JBJ B V> A= J= JV4? J=J y U JlJ6L=
7V/p 7K=%J> 9p9v]J7 39J BJ= 9p9v]J76J JV'= 4JKEV/i
K6VEJK'/ 6p ;q /qJV 6K5 4? BJ'J= *J J 4 74J6 K=V/
9G 9pJB/ 9p3q/J= U{V 9p3q/J= 73; /JK=V!= 7= B V/
7V/p K4V6= '6p JV=J
BJ'J= *J J 4 74J6 K=V/
K6V4q? K4V/ 7JK=V9O
7 5J=J
= 5L6 JV=JK7/ U J6 4 JV4V? K>K!/
/JK=V!= ;V5p 7K=V?J5 =J 6J B V> BJ A= J=L 4J9L KBAJV9
J4JEV<J"p B V9O
7 5J=J
39J
= 5L6 U J6 JV4V?= J=J AG{M U J6
9pKy BJ 7M6K9qV9%6J= '6p A= JV== K6 * y JV4V?= &E
;JVA= ;V5p 4=!Jvb U7? K=V/ 7JK=V96 9G y=R7 4=!Jvb
7JK= 7= A= J= y JV4?K* 7M6K9qV9%6J K=EJ U4K!V9 9G
BJ= 7= <3J<3 JV4? 74J6 K=V9O
O $5=,1tG70 ,X,\L<*)<Aoo
G?"B. /BK9>
>pJ. /BK9>
v]JK7/ B 9J= 7= <3J?L#r Alj9 K6;g=R7 A4Ap A;e2VE
K* *rJK U9J,q "K+/
B V9 <3J H
U JlJ6L= U<Y3 4= @J K@ 7K/K6K5 /Tq ;V6J6L/ 4M '6 A4Ap
9G =R7 U J6 7K/K6K5 6J 3JK V> U JlJ6L= ?rK; ". /qS
/JBJV4= K6V'V4= ;5p B V/ K69qJK%/ 4M '6 A4Ap 9G
! U JlJ6L= 9p9v]J76J /qS7{ /Tq ;V6J6L/ 4M '6 A4Ap <JBJV4=
;V5p eb/ '6 B V96 U JlJ6L= KBAJ9 ?J!J B V/ ;V6J6L/
9pKyO
*rJK U9JV,q= A4Ap". 7J>JzV; 7 5J=J
! =
5L6 A4Ap"V.= ;5p B V/ 7V/p 9FAV== '6p BJ=
'6
U%EJ=;pJ6 K69qJK%/ K=V96 /V9 73; U%EJ=;pJ6 7 5J=J
!
= 5L6 A4Ap"V.= ;5p B V/ B V9O
5pJE 9G /4 VV?p 7.L/ K9K5= K95J6 6M<JEL *rJK
U9J,q /BK9>VE= 9p9v]J76J 7K=%J>6J K=V9O
*rJK U9J,q BJ= {;/J 7VEJ" 4JKE/i 7J>V6= 9pJ7JV= A= J=
/Tq A;E A;E 74 K6V4qV?= 5L6 3JK V9O
A= J= <K4
;/ U7J@. V= U< *rJK U9J,q 9J BJ= U J6 A4Ap
4JKE/i 7J>V6 7M6H 7M6H 9p3q B V/V& 39J AJ5J=./ /BK9>VE=
>{p
v2JV3q= AKB/ AG"K/7P.q:JV9 J' ;q K=V/V& /JBJ
B V> A= J= U9J,q 9J A4ApK*V
J=. 4?qJ 9J= AMV<J" 4J6
161
81
162
O $&X $1G,0 `.$<Aoo

5pJE 39J AGK? U J6 K9K5= <3J<3
7VEJ" K6K/ =J= >V{p 9G BJ= 7VEJ'V6 A= J= U> 4vbJV9' 39J J<q5J=J= 6K3
7 />9 K=V/ 7JK=V9O
73; /JK=! B V/ /BK9V> ';J B V9O

U< U{V U J6 U JlJ6L 7 5J=J
= 5L6 G?"B.
/BK9V>= U J6 3q K6V'= 9p9AJ= JV' >J"J V/ _&M 6J BE UA
U{V
y /BK9V> *J J 9=J B EJ= /JK=! B V/ BJ 7 5J=J
6M<JEL K9K6VEJ" 6J B EJ 7<qeb A;VE= '6p /BK9V>= y
*J J= 7= K>K!/ BJV= U JlJ6L /Tq AM4 7V4E B V9O
<K4 G?"B. /BK9> v]JK7/ B EJ= 7= U J6 A;E U JlJ6L
U9J6JA 39J U9J6JA U?EJV== ;J5p; 9p/L/ 6p U J6:JV9
K/K=y ;P>56 AG"B V= /JBJ B V> 7 5J=J
= 5L6
U JlJ6L= 9p9BJ= U<J"p U J6 3q 39J G?"B. /BK9V>= U J6
Al4 AJ5J=. A; ;P>5V6 7K=9/q6 =J= 73; 7&f4 y
/BK9V>= 3JK V9 /V9 BJ y=R7 7K=9/qV6= 7PV9q U JlJ6L=
7K=V?JK5/ ;P>5V6= 7IK%? ?/JG? 39J K/K=y ;P>5V6= 7J?
?/JG? <JBJ ; B V9 = K5 B V9 6JO
,X< X<Aoo
7 5J=JE K/K=y ;P>56 9K>V/ U JlJ6L= U J6
K9V4?L G?L4J=V U4 EJ= 7vbJ9 T/ 9J 74 U J6 ;P>56V
9M(J V9 6JO
7 5J=J
= 5L6 7K=9/qV6= K5 J= 7VEJV"= 7VEJ'V6
U JlJ6L= K/K=y ;P>5V6 G?"B. K=9J= '6p 3q AG"VB=
>V{p G?"B. /BK9V>= Al4 K9Kz K=9J= '6p *rJK U9J,qV
7<qJ A;E K4V/ B V9O
7 5J=J
9K.q/ 7e]JE AG"SBL/ U?EJ= 6pJ6p U?EJV== ;/
7e]JE :K9@p/ U9J6JA 9G K5 J= AMpV/ G?"B. K=V9O
7 5J=J
9K.q/ 7e]JE AG"SBL/ U?EJV== 6pJ6p U?EJV==
;/
7e]JE U:JV*= K5 J= 3JK V9 9G y=R7 U:JV*=
K5 J= G?"B. /BK9V>= 7V{ *rJK U9J,q 7VEJ" K=V9O
G?"B. /BK9V>= U< 3q U JlJ6L 75J=J
= 5L6
7 5J=JE K>K!/:JV9 K9K6VEJV" 9p9BJV== '6p 6MV=J5
K=EJV& UA 3q *rJK U9J,q K6;gK>K!/ U 8J AJK*qK8V *
! J KA K9
K6* AJK*qK8V *
" 7K/={J 9G ,J AE7AB A= J=L . 7 9G
O =,G0<( =)[=k $X<='Aoo

/BK9>VE= 7?JA6 AGzJeb U J6
K9@VE *rJK U9J,q 9G U JlJ6L= ;V5p U J6 ;/K9V=J5 U4!J K4V> K9@EK*
A= JV== K6 * U7? K=V/ B V9 9G BJ= BJ= A= JV== KAJeb %PCJeb B V9O
/BK9>E B V/ 7J AMV<J" AMK95J AlV q *rJK U9J,q 39J
U JlJ6L= K9=^V U J6 ?K;V = U J6 K:V<J" 3JK V> BJ 4?;
5pJVE 9K.q/ ;'M=L B V/ /q6 AlV q K9V=J5 K6uK= 7e]J
6M<JEL K6uK K=V/ B V9O
O `.$< *Y#AooA= J=
5pJVE= 5L6 BJ= A > 39J UK!/ ?/q AJV7V{
BJ= U J6 ;q /qJ 39J 6p U J6 /qS7{V 7q. K=V/ 7JK=V9 O
O 92 r5# $5=,G10 =,=)G7< Aoo
G?"B. /BK9V> 9=J T/
39J ';J T/ A > 3q U JlJ6L= 9p9AJ 7K=%J>6J= JV' >J"J V/ 7J=J
<J V9O
U JlJ6L *rJK U9J,qV G?"B. /BK9V>= 3q 7 5J=J
=
5L6 K9K6VEJV"= JV' 9p9BJ= K=9J= '6p 6MV=J5 K=V/
7JK=V9 9G U9J,q y=R7 K9K6VEJ" K=9J= KAJeb "B. K=V/
7JK=V9O
U JlJ6L= 9p9AJ 7K=%J>6J= JV' K6VEJK'/ G?"B. /BK9V>=
U J6 V3q= 7= U JlJ6L 9pJG BJV== JCJ ?/JG? K5 BJV=
39J BJ= AJ5J=. U?EJV== '6p U#JK@/ ;M6J8J= BJV== 7I%J=
?/JG? BJV= <JBJ K5 B V9 AM4 74J6 K=V9O
<K4 U J6 U JlJ6L=
JK5 U?r.L= AJ5J=. U?EJ= 3JV
9G
BJ= '6p K9K:6g BJV= ;M6J8J U#JK@/ BE /JBJ B V> 7 5J=J
= 5L6 7V4E AMV4= BJ= K65qJ=V.= VV?p y U#JK@/ K9K:6g
;M6J8J= BJV== }=^/iJ6M<JEL KBAJ9 T/ "CV "B. K=V/ B V9O
G?"B. /BK9V> 7V4E y=R7 AM4 /BK9V>= 3q U JlJ6L U<
9FAV= 9p9BJ= K=EJV& UA 9FAV== 9p9KB/ 7=9/Lq 9FAV==
163
82
164
/4 VV?p A= J= /Tq
6MV;JK4/ 6p U J6 . 7O
/FAlV q A= J=V
O 4?=,(< *r<=x0 F/< X$<Aoo

A > ?rK;
5pJVE= 5L6 A >
AMK95J 7J 9J= 9G /BK9>VE G?"BV.= U<J"p B V96O
U J6 KBAJ9 9FAV= U J6 ?rK; U J6 U JlJ6LV/ 6Mp6 &E ;JA
%J N=L 7P.q 6J K=V> K/K6 y 9FAV== '6p /BK9>VE G?"B.
K=V/ 7JK=V96 6JO
O F <U<)>G *Z'k <=&Y F07<$Aoo

5pJE 7V<J'p BE =R7
A > U JlJ6L= U{V /JBJV4= = 74J6V<J"p JE KBAJV9= U9>JE /F /Tq
/BK9>VE 9=J T/ U J6 3q KBAJV9 5=J B V9 6JO
O $5=,1tG70 <7 <7 0 5 G$ F05< Aoo /BK9>VE= JE
;P>56L ;M6J8JAB JE = B V/ U=BJ 7J V9O
O 92 r5# $5=,G10 ,X,5<0Aoo

7V/p 9FA= G?"B. /BK9V>
';J T/ U;J* V3q= 4M /T/LEJG? A;J6 6M7JV/ A > ?rK; "V.= ;V5p 6"V4
9f*6 =J B V9 9G 9K?
/T/LEJG? 5J=J
= K95J6 U;J/JV9
K9K6VEJ" =J B V9 <JBJ= ;M6J8J A > ?rK; "V.= ;V5p A;J6 6M7JV/ 9f*6
=J B V9O
<K4 U J6 ?rK; Uv2_&JE U JlJ6L= %J N=L /pJ" K=EJ %K>EJ <J6
/JBJ B V>
5pJVE= 5L6 /BK9>E B V/ /JBJV U J6
AMK95J 7V4E B V> /JBJ K/K6 7J V96O
U J6 ?rK;V = %J N=L 9=!Jvb 9p/L/ 6p U J6:JV9 9AJ6 =J
B V> K/K6 U JlJ6L= %J N=L B V/ 9A=7J U J6 ?rK;V =
A;/N>p B V96O
U J6 ?rK; %J N=L B V/ 9=!Jvb B V> /BK9>VE /JBJ= G?
9JV'EJ B V9O
U< U{V U J6 ?rK; U J6 U JlJ6L= U J6 K8A 9J K6* B V/
BJ= 6p U J6 K8A 9J K6V* 94>L B6 UA U{V /JBJ= 6JV;
';J T/ /BK9>VE= AMK95J y 94>L T/ K8VA 9J K6V*=
/BK9>VE v]J6JebK=/ B V9 9G /JBJ= 7PV9q= K8A 9J K6V*=
%J N=L /JBJ= 94>L T/ K8A 9J K6V*= /BK9> B V/ 7V4E
AMV<JV"= U{V ".6JE J6J B V9O
U J6 ?rK;V = 9A= "BV.= 7= K/K6 39J U JlJ6LV/ %J N=L=/
3J J JV> /JBJ= ;S/Np #K*V> /JBJ= ;V6J6L/ v2/iV:J"L
5pJVE= 5L6 7P.q AMK95J U:J" K=V96O
O 2Z=. G#0 <7 <7 0 5 G$ F05< Aoo /BK9>E B V/ U<

?rK; V U4 EJ BE BJ= '6p /JBJV U J6 JE = K4V/ B V9 6JO
BJ=
3q
O Z<=~ F,<G!Y0 ,\L<)

< Aoo
*rJK U9JV,q= K8A U JlJ6L=
JGK"6JE v]JK7/ B V9 9G U< U{V U J6 U JlJ6L=
JK5
K8A 39J
K6* 3JV UAV{V BJ= U=K'Kr T/ 75J6 J<qJ>VE BJ v]JK7/ B V9O
*rJK U9JV,q= KBAJ9={.AB A > !=% U JlJ6L 9B6 K=V9O
O $5=,1tG70 =54<, =)0>`<Aoo U JlJ6L= JE 9pVE= KBAJ9 U< :JV9
K6=LK{/ BE /BK9>VE= 7K/ 9FAV== JE 9pVE= KBAJ9
6M=R7:JV9
U JlJ6L= !=V% K6=LK{/ B V9 H
/V9 ?/q 3JV U< A= J= K6' !=V% /BK9>VE= JE 9pVE= U J6 K9V?@
K6=L{J= '6p v2/e K6=L{ K6VEJ" K=V/ 7JK=V9O
O $5=,1tG70 *r'k 4?=,(< )X<)X 4?=,(<0 =$=0^ 5 G,Aoo
5pJVE= 5L6 ?rK; V 7V4E U J6 AMK95J U J6 J 6 %NKy %J N=L= ?/Jq9>L
39J 6p:JV9 /JBJV 7V4E 6p U J6 AMK95J= K/K=y KBAJV9 7V4E B V9
9G BJ y=R7 AMK95J= 7K=9V/q 9J BJ= BJK6 K=EJ B V9 6JO
O F.I4?.> <G =)/?^ =2Gy0 F`Gm =,G23 =,(<)Aoo
5pJVE <JBJ
K &M 3J N 6J U 6 U< A > U JlJ6L A;vb 9FAV== 7K=9V/q BJ= U J6 GV?
BJV4= J' %J>JE UA A > U JlJ6L= ;M6J8JE ?rK; "V.= G? "BV.= '6p
A= J= A= J=L U"V'V* 7J76 J=J K95J6 K=V/ 7JK=V9O
O
<=( =2y 4U= Y$ < G.Y =)G7<= $ F <U<)>4.B5Aoo
O 1X<# $5=,G10 ,X,5<0Aoo >pJ. /BK9V> ';J T/ 3q *rJK U9J,q

U<:JV9 Kv]= K=V9 UA:JV9 9G UA VV?p 9p9BJ= =J B V9 9G U9J,q
165
9KB/ K=V9O
83
166
F3<62 (X<7
5pJVE <JBJ K &M 3J N 6J U 6 U4V?= JK5 v]JV6 JK5 K? AlK q/

J' V;q K6VEJK'/ U J6 U JlJ6L= 6MV=J5zV; A= J= BJ= /BK9>EV
BJ= K? AlK q/ J' V;q =/ K9K:6g K8A 9J K6V*= ;V5p K9:y K=9J=
'6p 9G BJ= 7V/p K8A 9J K6V*= U{V v2/e *rJK U9J,q "+V6= '6p
6M;K/ K4V/ 7JK=V9 9G UA U{V
5pJVE= K95J6J9>L ;6:JV9 7V<J'p
B V9 U<6 BJ= y=R7 7V/p K8A 9J K6* K* U JlJ6LO
! 2Z=.
O \J>. *r#7G)0 `.$<Aoo

A= J= A= J=L U"V'V* 7J76 J=J
%"J; ;G>J 9f4V= , ?rK; K6VEJV" K5 /= K6E;J6M9K/q/J 9G 4{/J=
AKB/ v2 !=V% 'JBJV'= J";6 K6"q;6 K6K/ =J= >V{p , ?rK; "V.=
K6VEJ" K6Ee. 9G /JBJV4= ;JK> "V.= U=K'Krr =V.= '6p vZL; 7.E6
K=V/ 7JK=V9O
K9V?@ K=EJ 9G 7K= y {;/J= AJ;K" /JV {N.g 6J K=EJ
6M=R7 vZLV; K6;g9K.q/ A > 39J UV = U{V 7V<J'p
B V9 BJ K65qJ=.
! , ?rK; ". 9G ;JK> "V.= K K 4JKE/i 7J>6 AJV7V{ vZL;K*
/JBJV4= U{V 7V<J'p B V9 9G K K 7K=Kv]K/V/ BJ= 7VEJ"
/JBJV4= U{V 9 B EJ <J V9 BJ= 9.q6J
" , ?rK; "V.= K6VEJ" 9G vZLV; /JBJV4= eb:MqKy K6Ee.
# , ?rK; 9G ;JK> "V.= U=K'Kr =. U=K'Kr !J/J ={. BJ
B V/ v]JEL 9J v]JEL:JV9 6J; /q6 9G U=K'Kr =V.= '6p K8A
JV=J7
$ U=K'Kr T/ B
9J 6J B
, ?rK; "V.= K6VEJ" %J N=L=
?/q9>L 9G 7JK=?rK;V = BJ= K6Ee.
% vZL; 7V<J'p BE 6J =R7 , ?rK; "V.= %J N=LV/ K6VEJ" 9G
vZL; 7V<J'p BE 6J =R7 ;JK> /qS , ?rK; "V.= %J N=LV/
K6VEJ" K6K@ =. AL;J9 =. 39J 6p:JV9 K6Ee.
& U J6 AVebJ@'6 K:6g 9p9v]J76J 3J J= U{V , ?rK; "V.=
7K?{. 9G >pJV.= 9p9v]J =.
' vZL; 7K=%J>6J= 9pE K :JV9 9G JBJ= J=J 9B6 =J B V9 /JBJ
K65qJ=. 9G
( vZLV;= VV?p A;L%L6 39J 7VEJ'6LE B V9 =R7 J6MAGK"
9G 7K=7P= 9p9v]J K65qJ=.O
A= J= A= J=L U"V'V* 7J76 J=J U J6 vZL; AGV?J56
7K=9/q6 39J 9JK/> K=V/ 7JK=V9O
O ,<91<G'2 =,=)G7< G*Y<G02) $X<='0 *0 92 r5# $5=,G10

,X,\L<*)< *Y#Aoo *rJK U9J,q A= JV== 7P9q 6M;K/zV; 9JG>JV4? K9K6VEJ"
V7qJV=?6 39J UAJ6J>L 9pJGV
BJ= G?"B. /BK9V>= 9p9v]J76J 7q.
K=9J= '6p BJ= AKB/ %MKy K=V/ 7JK=V9 9G V{V %NKy= ?/qJ6M<JEL 7V4E
U J6 K8A U JlJ6L /Tq 7K=V?J5V<J"p B V9O
167
G#0 =)G7< =)7Pe# ,9 =)0<*k<
84
168
5J=JE , ?rK; 3q y U J6 9f4V= 'JBJV' ;J> +JV6J

9J 6J;JV6J 9J ;J>J;JV>= %>J%> 9J }4J;'J/ =J AlV q U J6
J' 39J ;J> 9J 6p K &M U9J(J
=J 9J !J>JVA= '6p
'JBJ'V 7v\/ =V.= U J6 JV' K6VEJK'/ U J6 9pKyO
7AJK=/ 6J B V> /JBJ= K6<MKy= /JK=! B V/ 4M 9FA= U;EJV4

v2LE 7V4 K5K/ 3JK V96 9G K/K6 7M6=JE K6VEJ"V<J"p B V96O
U9JV,q= :J A U%EJ=;pJ6
A= J= /qS K65qJK=/ ?V/q v2LE 7V4 K5K/ 3JK V96 9G
! K9K5 J=J K65qJK=/ 39J U9J,q /qS
K7q/ 39J vZLV; K65qJK=/
4JKE/i 7J>6 K=V96O
U%EJ=;pJ6 9G :J A U%EJ=;pJ6 9p/L/ U9JV,q= U J6 A4Ap
U%EJ=;pJV6= VV?p v2J{=<My 7 J=J v2LE 74 /pJ" K=V/
7JK=V96O
O ! 2Z=. ,X,\L<*)< F,<!YAoo

5pJVE= VV?p A= J=
A= J=L U"V'V* 7J76 J=J %"J; 9G ;G>J 9f4V== 7V/p K*= '6p ,
?rK; 9p9v]J76J U9J,q 6JV; K* U9J,q "+6 K=V9O
, ?rK; 9p9v]J76J U9J,q /H7=
5pJVE U9J,q 9K>EJ
K>K!/
K* AGK9K59 AGv]J B V9 9G BJ= v]JEL
5J=J9JKB /J
K* AJ5J=. AL>V;JB= 3JK V9 9G
5pJVE=
K95J6 AJV7V{ BJ= v]J9=
v]J9= :E 7 J= AlK 'q6
=J= K5 JV= =J!J= BvbJeb= =J= 9G %NKy AlJ46 =J=
{;/J 3JK V9 9G BJ= 6JV; BJ ;J;>J 4JVE= K=V/ 7JK=V9
9G BJ= K9=^V ;J;>J 4JVE= =J <J V9O
O F,<G!Y0 4-<Aoo
K9K5J=J K65qJK=/ 7e]JE 9G A;VE v]JV6
U9JV,q= A:J 6MK/ B V9O
U9JV,q= U J6 A:J= U J=J; 7P=V.= '6p eb/ 7JI%'6 A4VAp=
7Kv]K/= 7VEJ'6 B V9 <JBJ= ;V5p
'6 ;JK> "V.=
7K/K6K5/i J=L 9G '6 , ?rK; "V.= 7K/K6K5/i J=L B V/
B V9O
U9JV,q= A:JE 7V/p A4VAp=
K* K=EJ U:J* 3JK V9 /V9
A;AG!p U:JV*= U{V A:JE A:J7K//i J=L 9pKy K* K6.qJE
U:J* 74J6 K=V/ 7JK=V96O
U9JV,q= 7V/p A:JE U%EJ=;pJ6 39J /JBJ= 9/q;JV6 :J A
U%EJ=;pJ6 A:J7K//i K=V96O
O F,<G!Y0 )Aoo
K6;g=R7 A4Ap A;e2VE U9J,q "K+/ B V9 <3J H
U%EJ=;pJ6
! :J A U%EJ=;pJ6
" A= JV== 7K/K6K5/i J=L 4M '6 A4Ap <JBJV4= ;V5p '6 ?r;
;qAGv]J6 ;e.J>E B V/ B V9
# %"J; 9f4= /qS7{ 39J U{;/ ;G>J 9f4= /Tq7V{=
7rK/K6K5/i J=L '6 A4Ap
$ ;JK> "V.= 7K/K6K5/i J=L 4M '6 A4Ap
% 'JBJV'= ;JK>
9G 'JBJ' 7K/K6K5"V.= 7K/K6K5/i J=L 4M '6
A4Ap
& , ?rK; "V.= 7K/K6K5/i J=L %J='6 A4ApO
U%EJ=;pJ6 9p/L/ U9JV,q= A > A4Ap A= J= /Tq K6<My B V9O
%"J; 9f4= /qS7V{= U%EJ=;pJ6 74JK5 J= 9V> %"J; 9f4=
, ?rK; 9p9v]J76J U9JV,q= 9G ;G>J 9f4= /Tq7V{= U%EJ=;pJ6
74JK5 J= 9V> ;G>J 9f4= , ?rK; 9p9v]J76J U9JV,q= U%EJ=;pJ6
B V96O
U%EJ=;pJ6 9G :J A U%EJ=;pJ6 9p/L/ U9JV,q= U J6 A4Ap JV"
169
O F,<G!Y0 </Y<,1> Aoo U< 9f4V== '6p U9J,q "K+/ B EJV& UA 9f4=
AGzJeb vZL; 9Jvb9JEV6= '6p U9J,q 4JEL 3JK V9O
U9J,q vZLV; 9K.q/ 39J K9K5J=J K65qJK=/ 6p A > 4JKE/i 7J>6
K=V9O
U9J,q BJ= 4JKE/i 7J>6 JV> A= J= /Tq A;E A;E 74 K6V4q?
J=J 7K=%JK>/ B V9O
O *G'{< =.= Aoo
A= J=
5pJE 9Jvb9JE6 AGzJeb U J6
K9@VE BJV 7=J;?q 74JV6= '6p
K* 7V4J K;K* "+6 K=V/ 7JK=V9O
y K;K*= A4Ap AG!pJ A= J= K65qJ=. K=V9 9G /JBJK4"V
A= J= K6<My K=V9O
85
170
A= J= U< K9@VE= 7= 7=J;?q %JKBV9 K;K* U 9>;J UA K9@VE

7=J;?q K4V9O
# U< 'JBJV'= :peb=:JV" J' %K>V/V& BJ= U, B V/ y

:peb= :JV"= ;qv]V> ?rK; "V.= ";6J";V6= 7e]J= 7 TK/
K65qJ=.
$ ?rK; "V.= '6p K976 B V/ 7JV= =R7 'JBJV'= U J6 U,V =
;M! 9J 7J*J/V6= 8IJ V K974;My =J= 7VEJ'6LE 9p9v]J
% 'JBJV' 9J BJ= U J6 GV? J' %K>V/V& ;6 v]V> ;q=/
?rK; "V.= 39J ?rK; "V.= <J EJ= 7VEJ'6 JV& 'JBJV'=
=R7 U J6 v]JV6 ";6J";V6= '6p 9p9/ 7V3 7<qJ JV>J=
9p9v]J =J!J= K95J6
& 7J*J/V6= 8IJV = -J 6JA;PB 9G y -J 6JE 9p9/ KC J+
A=JV6J 9G >J"JV6J= JV' K6VEJK'/ ?rK; "V.= K6=J7J K95J6
' U J6 VJ> <Ve= K"EJ= BJ Kv]= 9J K->J U< :JV9 3J N 6J
U 6 U J6 'JBJV' 9J 7 PV> U<!JV6 U J6 J' %K>V/V& UA!JV6
BJ K6=J74 ;q 9v]JE 6J 3J J 7<qeb <JBJV/ 9p9/ 6J BE /JBJ
K6K/ =J= '6p "SBL/ 9p9v]J
( <e7JK/ AKzE 7K=9JBL 9v\ 9G L; 7J 7A;PVB U9CJ K4EJ
K#K=EJ =J!J= 9p9v]J
) U,K= Uz6 9G 6V%A = K6=J7J <e7JK/ AlK q/ K95JV6=
K6Ee.
* 9JuJK4= K6"q;6 73 9G AKzE 9JVu= U{V 6MA=.LE
AJ95J6/J;P> 9p9v]J= K95J6
+ U J6 JV' 9p9/ VJ> 9J 7K=9JB <e7JK/ %J>JV6J= '6p
39J y=R7 <Ve= %J> V AGV / 4JV6= '6p 39J 7JVeb
9J ,rJV; ;J>J;J> 7/V6= A;E BJK'= 3J J= '6p 7<My
K9?nvb 9pKy K6VEJV"= K95J6 9G ?rK; "V.= K6=J7J= '6p
7VEJ'6 B V> AGV / 4J6 J=L K6VEJV"= K95J6
, ;J>J;J> v\7J JV= =J!J 9J BJ B V/ A=JV6J ;J>J;J> AJ'J EJ
=J!J 9J BJ :JG"J 39J /F7AlK q/ U J6 6JCJ%JCJ= JV'
9>Kl2/ K976 7e]J U=JV5= '6p 9p9v]J
- U J6 'JBJV'= U,V 9J U!JV> E>J 39J 9SBF J JV== ;J>J;J>
AlK q/ U J6 JV' K6VEJK'/ ?rK; "V.= JV'= A;E K974
CJ EJ %>J= ;/ "SBL/9p K6=J7J 9p9v]J
. U' 9G *rJ 9p9BJV== A;E 6MA=.LE K6=J7J;P> 9p9v]J
O .Y $Y<
.Y <0> =)G7< Aoo U9J,q BJ= 7= K7q/ 4JKE/i AMN:JV9
AlJ4V6= '6p 7VEJ'6LE AG!p ;q /qJ
;q%J=L K6VEJ" K=V/ 7JK=V9 9G
/JBJV4= %J N=L= ?/qJ9>L K9K5J=J K65qJK=/ B V9O
O $5=,1Aoo
U9JV,q= K6'v2 /BK9> 3JK V9 9G BJ
5pJVE=
5L6 BJ= 4JKE/i 7J>V6= 7VEJ'6LE 9pE K69qJVB= '6p 9p9BJ= =J B V9O
/BK9V> K6;gK>K!/ 3q ';J B V9 <3J H
A= JV== 6M4J6
! AGK? 9f4= /Tq7V{= 6M4J6
" 6p U J6 FA B V/ 7J 3qO
O <7 ,XG70 =,,0#>AooU9J,q A= J= /qS K65qJK=/ /JK=V!= ;V5p 9G
/F /Tq K65qJK=/ 8=V; BJ= 7V/p 3q9FAV== '6p AljJ9p JE 9pVE= KBAJ9
Al2K>/ K99=.L 6MV;J4V6= '6p A= JV== K6 * U7? K=V9O
O `.$< *Y#Aoo U9J,q AJ5J=. 9J K9V?@ K>K!/ JV4? J=J BJ=
A > 9J UK!/ ?/q AJV7V{ BJ=
U%EJ=;pJ6 39J :J A U%EJ=;pJ6 39J U J6 A4Ap 9J U J6 ;q /qJV
7q.
K=V/ 7JK=V9O
O ! 2Z=. G#0 =)0<*k< $X<=' 4U%Gv =,G23 =,(<)Aoo A= J=
A= J=L U"V'V* 7J76 J=J K6;g=R7 A > 9J U U J6 ;qv]J6 9G J' %K>V/V& = ; U J6 ;qv]JV6
<J/JEJV/= '6p U J6 , U7J/J?rE #J* 9J U'K* 9J y=R7 6p
U J6 v]JV6= 7= U< K6EK;/ =JvbJ ?rK; ".V 9p9BJ= K=V/ BE
BJ= K6=J7J K95J6 9G y v]J6 9G 73 K6=J7J U9CJ
JV>J= 9p9v]J =J
! U< 'JBJ' U'K* #J* 39J 6p U J6 'JBJV'= 7JV? 9Kv]/ JV&
BJV/ ?rK; "V.= <J/JEJV/= '6p K 5=V.= 7e]J 9>l26 K=V/
B V9 /JBJ K65qJ=. =J
" U6Y 7V3 6p U J6 'JBJV' ?rK; "V.= K6=J74 <J/JEJV/= 9p9v]J
9G
VV?p U< U6Y<J6 9p9/ B V9 BJ= 7J>6LE ?/qJK4
171
86
172
4x'2 (X<7
/ <!6 U J6 ?rK; V K976 39J v2Jv]p BJK6 = ;J>J;J> ; 'M4

JV&
= ; U J6 v]JV6 39J BJ= K6 *v] U J6 v]JV6 J'
K=V/ BE /!6 6MA=.LE K6=J7J;P> 9p9v]J= K95J6
3 JB/ ?rK; "V.= 7J3K; K%K FAJ 74J6 9G K6 *v] K%K FAJ
U Vf4r U7=. = 9p9v]J AlV q K95J6
4 7JK6V/ 7K// U J6 ?rK; V ,MK9EJ <J EJ= BJ/ B V/ ={J =J=
9p9v]J
5 K976 #*6J 9G 4M#q*6J AlV q U6JK*? 74J6 9G y
U6JK*V?= 8=; U6JK*? 7J7 9pKy 9J /Sq7{ U6JK*V? K>K!/9p
K99=. 9G U6JK*? 74JV6= A;E Al2V K95J6
6
5J=J= 5L6 7.L/ U J6 7K95JV6= 7VEJ" 9G BJ ;JK6EJ
%>J= '6p 4JEL 9pKy 9J /Tq7{ K65qJ=.
7
5J=J= 5L6 7.L/ U J6 7K95J6 U< U< 9v]J= 7K=V7K{V/
?V/q U=BJ U4 EJ <J V9 /JBJ= 9.q6J 9G U< /qqS7{ /qS
y=R7 U=BJ 74J6 =J <J V9 /JBJ K65qJ=. 9G BJ= 7K/
K6Ee. 9G
8 ?rK;V = 6p U J6 7 J= K6=J7J= 9p9v]J K6=R7.O
5J=J= K95J6
J V6= 6p U J6 K95JV6= K/K=y 9G BJ
y=R7 U J6 K95JV6= BJK6 = 6VBO
173
-=,3X $5=,1
O F,40 <0> <G$ *r=$|<G)0 2Z=. G#0 )X -=,3X $5=,1Aoo
U9A= J=L !JV/= U J6 7K/J6 BJ= ?rK; "V.= AMK95J= '6p :K9@p /BK9> "+6
K=V/ 7JK=V9O
7K= y :K9@p /BK9> 5J=J
= 5L6 U J6 7K/J6 /qS
/4 VV?p 7.L/ K9K5 J=J K65qJK=/ 7e]JE "K+/ B V9O
7 5J=J
<JBJ K &M 3J M 6J U 6 U9A= J=L !JV/= U J6
7K/JV6 K6VEJK'/ ?rK; "V.= '6p :K9@p /BK9> "+V6= VV?p
A= J= K9K5 7.E6 K=V/ 7JK=V9 9G <K4 y=R7 K9K5 7.L/ BE
/JBJ B V> U< 7K/JV6 BJ 7V<J'p B V9 UA 7K/J6 BJ=
K95J6J9>L ;JK6EJ %K>V/ 9J5p 3JK V9O
y=R7 :K9@p /BK9> K* *rJK U9J,q J=J 7K=%JK>/ B V9O
y=R7 *rJK U9J,q AGK? 7K/JV6= ;JK>
9G BJV/ K6<My
?rK; "V.= A;J6 AG!p 7K/K6K5 A;e2VE "K+/ B V9 9G
A= J= /qS ;V6J6L/ U J6 9pKy BJ= U%EJ=;pJ6 B V96O
;JK>V = 7K/K6K5 ;JK> /qS ;V6J6L/ B V96 9G ?rK; "V.=
7K/K6K5 U<Y3 4= @J K@ 7K/K6K5 /qS ;V6J6L/ B V96O
U< U{V U J6 7K/JV6 U J6 U<Y3 4= @J K@ 7K/K6K5 6J UA
U{V ?rK; "V.= 7K/K6K5 ?r; 7K=%J>V = /iJ95JV6 y
7K/JV6= ?rK; V4= J=J K69qJK%/ B V96O
*rJK U9JV,q= A > A4Ap 4M 9FAV== U;EJV4 /JBJV4= 7V4
K5K/ 3JK V96H
/V9 ?/q 3JV U< y U;EJ4 U?@ B EJ AVi /JBJV4=
=JK5 J=L". J<q:J= "B. 6J =J 7<qeb /JBJ=J v2LE 7V4 9BJ>
3JK V96O
U< 7K/JV6 :K9@p /BK9> "+6 =J B EJV& UA 7K/JV6= 7V/p
v]JEL ?rK; BJV/ /JBJ= %J N=L
9FA= 7P.q K=9J= 7= 7V/p
;JVA BJ= :K9@p /BK9V> K:6g=R7 U J6 %NKy 6J 3JK V> /JBJ=
;JKA ;P> ;'M=L= 6Mp6 AJ/ ?/JG? 9G 6K5 J* ?/JG? BJV=
%IJ4J 74J6 K=V96 9G ;JK>
BJV/ y BJV= %IJ4J 74J6
K=V96O
87
174
5J=JE <JBJ K &M 3J N 6J U 6 U9A= J=L !JV/= U J6

7K/J6 BJ= ?rK; "V.= AMK95J= '6p :K9@p /BK9> "+6 K=V/
9J5p 3JK V9 <K4 y 7K/JV6= 6Mp6 K/6 %/N3qJG? ?rK;
;JK>V = K6 * K>K!/ 4=!Jvb U7? K=EJ y=R7 :K9@p /BK9>
"+V6= 4J9L V=6O
U<V{V 7 5J=J
= 5L6 :K9@p /BK9> "+V6= 4J9L =J
BE UA U{V 7K/JV6= ;JK> 4=!Jvb 7JK= &E ;JVA= ;V5p BJ
"+V6= '6p 5J=J
= 5L6 7VEJ'6LE K9K5 7.E6 K=V96 9G
:K9@p /BK9> y A;E K/zJeb B 9J= 7PV9q %J>M K=V96O
y :K9@p /BK9V> ';J T/ U;J* V3q= 6Mp6 V5q 3q K6;g=R7
VV?p K9K6VEJ" K=V/ B V9 <3J H
J KA K9 K; %NpEJ> 8J AJK*qK8V *
! J KA K9
K6* AJK*qK8V * 9G
" 7K/={J ,J AE 7AB 6p U J6 A= J=L .7O
y :K9@p /BK9V>= 7K=%J>6J 9pE ;JK> 9B6 K=V96O
7K/JV6= JE 9pVE= KBAJ9 U<:JV9 K6=LK{/ BE :K9@p /BK9V>=
7K/ 9FAV== JE 9pVE= KBAJV9 UA:JV9 7K/JV6= !=V%
K6=LK{/ B V9 H
/V9 ?/q 3JV U< A= J= K6' !=V% y /BK9V>= JE 9pVE=
U J6 K9V?@ K6=L{J= '6p v2/e K6=L{ K6VEJ" K=V/ 7JK=V9O
:K9@p /BK9V>= JE 9pVE= KBAJ9 /FAlV q K6=L{J K=V7J*qAB
K6=L{J K=V7J*q U7? =J=
;JVA= ;V5p ?r; 7K=%J>V = K6 *
U7=. K=V/ B V9O
U< U{V A= J=
;V;q AebM BE U< U9A= J=L !JV/= U J6
7K/JV6 "K+/ :K9@p /BK9> AVebJ@'6 :JV9 J' K=V/V& 9G
BJ= K9=^V ?rK; "V.= U J6 K:V<J" 6J UAV{V A= J=
AGK? 7K/JV6= ;JK>V = K6 * B V/ 7J 4=!JVvb= K:KV/
K>K!/ JV4? J=J y 7K/J6V
5J=J= 7VEJ" B V/ U=BJ
K4V/ 7JK=V9O
5J=J= K95J6 6M<JEL :K9@p /BK9> "+6 J=L U J6 7K/J6
:K9@p /BK9> J 6
AV6=
6G J 6 =
VV?p A= J=L 7K/J6 9K>EJ ".p B V9O
5J=JE U9A= J=L !JV/= 7K/J6 9K>V/ ;6 U J6 7K/J6V
175
9M(J V9 <JBJ A= J= 9J U J6 v]J6LE /qS7V{= A=JAK= ;JK> J6JE

9J 9p9v]J76JE 6J
39J <JBJ= U{V A= J= 9J U J6 v]J6LE
/Tq7{ /Tq 7.L/ U J6 :K9@p /BK9> K9K5 7V<J'p BE 6JO
6JV;
O < ,< <) 2Z=. -=,3X $5=,1Aoo

%J 9J"J6 ?rK; :K9@p /BK9>
K* :K9@p /BK9> v]JK7/ B V9O
%J 9J"J6 ?rK; :K9@p /BK9> /H7=
5pJVE :K9@p /BK9>
9K>EJ K>K!/ 5J=J
= 5L6 "K+/ K* *rJK U9J,q =
7= 6pvb B V9 9G BJ= J=J 7K=%JK>/ B V9O
O < ,< <) 2Z=. -=,3X $5=,1 Z<=~ F,<!YAoo

A= J= A= J=L
U"V'V* 7J76 J=J %J 9J"J6 ?rK; :K9@p /BK9> *rJK U9J,q 6JV; K* U9J,q
"+6 K=V9O
K6;g=R7 A4Ap A;e2VE *rJK U9J,q "K+/ B V9 <3J H
U%EJ=;pJ6
! ;JK> "V.= 7K/K6K5/i J=L K/6'6 A4Ap
" %J ?rK; "V.= 7K/K6K5/i J=L K/6'6 A4Ap
# %J K?V= AKB/ AGK? 6VB6 =R7 4M '6 A4ApO
U%EJ=;pJ6
6pJ6p A4Ap". A= J= /qS K6<My B V96 H
/V9 ?/q 3JV U< 7 5J=J
!
" = 5L6 A4Ap".
A= J= /Tq
/4 VV?p v2L T/ ;JK> ".
U{ ;/
?rK; "V.= AG"+V6= AKB/ JV>J%6JzV; K6<My B V96O
U%EJ=;pJ6
6pJ6p A4Ap". /JBJV4= K6<MKy= /JK=! B V/ K/6
9FA= U;EJV4 /JBJV4= 7V4 K5K/ 3JK V96 H
/V9 ?/q 3JV U< y=R7 U;EJ4 U?@ B EJ AVi /JBJV4=
=JK5 J=L". J<q:J= "B. 6J =J 7<qeb /JBJ=J v2LE 7V4 9BJ>
3JK V96O
U%EJ=;pJ6
6pJ6p A4Ap".
5pJE 39J K9K5 J=J K7q/
4JKE/i 7J>6 K=V96O
*rJK U9J,q
K* AGK9K59 AGv]J B V9 9G BJ= v]JEL
5J=J9JKB /J
K* AJ5J=. AL>V;JB= 3JK V9 9G BJ= 6JV;
BJ ;J;>J 4JVE= K=V/ 7JK=V9 9J BJ= K9=^V ;J;>J 4JVE= =J
<J V9O
88
176
6J 9G y ?rK;V = U J6 'q 9J 4JE AlV q U J6 J4J>/ /qS 7r4 K,zL

9J =JVE= 5L6 BJ UzJ V<J"p B V9 6J 39J U4 K>EJ J 6
AV6= 6G J 6 = 5L6 K6<My U J6 K=KA:J= y=R7 U J6 3q 4J9L K=V/
K5 J=L B V96 6JO
U J6 ?rK;V = ;S/Mp= A;E /JBJ= :K9@p /BK9V>= KBAJV9 U< 3q
';J 3JV UA 3q
6p U J6 J V6= 5L6 6MV;JK4/
/q6AJV7V{ /JBJ= ;V6J6L/ 9pKy= 7= 6pvb B V9 9G /JBJ=
;S/Mp= 7PV9q /JBJ= 9J /JBJ= ;V6J6L/ 9pKy= U J6 'q 9J 4JE B V/
BJ ;My 3JK V9O
O *r2<4) ,X7Aoo
*rJK U9J,q %IJ4J= K:KV/ K* 7?JAK6 !=%
JV=J7 K=V/ 7JK=V9O
A= J= U9JV,q= AKB/ 7=J;?qzV; ;JK>
9G ?rK; "V.= U;J*
%IJ4J= / ?/JG? 7?JAK6 !=% B V9 BJ K65qJ=. K=V9O
7V/p ;JA U?@ B 9J= 76= K4V6= ;V5p ;JK> v2/e 9pJG ,rJ8*
9J U%V = ;J5pV; :K9@p /BK9V> 7?JAK6 !=% 74J6 K=V96O
7?JAK6 !=% U%V = ;J5pV; 74J6 =J B V> y U%V = 3q
AG"VB= '6p U J6 !=% 7V4E B V> /JBJ U%V = V3q= AKB/
eb:Mqy K=EJ K4V/ B V9O
O )X F <) G Y0 *0 ;<'< *Z'<) r<=( <0 *< G,Aoo

5pJVE=
5L6 U J6 %IJ4J 6J4JEL 3JK V> BJ <K4 ;JK>V = U4 K>EJ AJ9pvb B 9J= 7PV9q
7V4E BE 39J }*J EJ U8>J= JV4?J5L6 U J6 U JlJ6L= U{V BJ <K4 y
JV4V?= 7PV9q 7V4E BE /JBJ B V> 6J4JEL %IJ4J AGzJeb 4JE U4 K>EJ J 6
AV6= 6G J 6 = 5J=J
39J U JlJ6L J 6
=
5J=J
= 5L6 =R7 V'q= eb:Mqy B EJV& 9K>EJ ".p B V9 <JBJ y
U4 K>EJ 9J U JlJ6L= AlK 9f*V6= A;E 6p A > V'q= 7= "JK5 J=
7J V9O
O ;<'<Aoo K/6 9FAV== K5 J> <J9F %J>M JV& =R7 7V/p %J

9J"JV6= ;JK> /JBJ= %J 9J"JV6= U J6 K?{J5L6 ?rK; 9p/L/
9FAV==
K5 J> <J9F ;q=/ JV&6 =R7 7V/p ?rK; AlV q /JBJ= ;P> ;'M=L=
AJVC AJ/ ?/JG? BJV= :K9@p /BK9V> %JI4J 74J6 K=V96O
7 5J=J
K>K!/ 7V/p ?rK; /JBJ= AlV q ;JK>
/Tq 7V4E %IJ4J= BJV= :K9@p /BK9V> %IJ4J 74J6 K=V96O
U J6 U{V
5J=J= 5L6 7V4E U J6 %IJ4JE *J J= :"gJG? 'KC/
3JK V> y :"gJG? K6 *v] 7P.q *J JE > EJ JKAV/ B V9O
<K4 U J6 U{V
J 6 9>9F B 9J= A;VE U J6 7%K>/ :K9@p
/BK9V> 74 %IJ4J= BJ=
5J=JE K65qJK=/ %IJ4J= BJ= B V/
_%/= BE /JBJ B V> y _%/= BJV= y /BK9V> %JI4J 74J6
K=EJ <J V/ B V9 U<6
J 6 9>9F BE 6J O
K9K5 J=J K65qJK=/:JV9 :K9@p /BK9V> U;J* 3q ';J =JK!V/ B V9
9G K9K6VEJ" K=V/ B V9O
O . ?0> ,< )X F <) 4?G/< 4?=,(< .<=1 .< G$ *<=0G,) )<Aoo

J 6 9J U J6 K9K5= 5L6 U J6 %IJ4J 9J !=% 74JV6 9J5p U 9>;J
J=V.
;JK> 7/p{ 9J 7V=J{:JV9 U J6 ?rK;V = 7J7p ;'M=L 9J 6p U J6 AMV<J"
AMK95J ;J V/ 7JK=V96 6JO
O 49,<'*m 2Z=. G#0 )X -=,3X $5=,1Aoo
7V/p AG9J47
7K/J6 BJ= AG9J47 ?rK; "V.= AMK95J= '6p K9K5 J=J K65qJK=/ 7e]JE K*
:K9@p /BK9> "+6 K=V9O
y :K9@p /BK9> K* *rJK U9J,q J=J 7K=%JK>/ B V9O
y *rJK U9J,q AGK? AG9J47 7K/JV6= ;JK> 9G BJV/
K6<My AG9J47 ?rK; "V.= A;J6 AG!p 7K/K6K5 A;e2VE "K+/
B V9 9G /JBJ=J K9K5 J=J K65qJK=/ 7e]JE ;V6J6L/ 9G K6<My
B V96O
7V/p AG9J47 ?rK; U J6 AG9J47 7K/JV6 /JBJ= %J N=L=
O `=$ <'<7Aoo U< U{V U J6 ;JK> :K9@p /BK9V> %IJ4J 74JV6

39J
5pJE 9J U J6 K9K5= 5L6 7V4E U J6 !=% 74JV6 U!>J7 V=6 UA
U{V *rJK U9J,q ;JK>V = K6 * B V/ y=R7 9V EJ V3q= AKB/ BJ= K/K=y
KBAJV9 6K5 7IK%? ?/JG? BJV= {K/7P=. J4JE K=V/ 7JK=V9O
O -=,3X $5=,1 G_< G/< XAoo
U J6 ?rK;V = :K9@p /BK9V>=
KBAJV9 U< 3q ';J 3JV UA 3q U J6:JV9 BvbJeb=V<J"p 9J 4JE9 U<J"p B V9
177
89
178
{<'2 (X<7
73; 4M 9FA= 7P.q K=9J= 7= 7V/p ;JVA BJ= :K9@p /BK9V>

/JBJ= ;JKA ;'M=L= 6Mp6 AJ/ ?/JG? 9G 6K5 J* ?/JG?
BJV= %IJ4J 74J6 K=V96 9G ;JK>
BJV/ y BJV= %IJ4J 7r4J6
K=V96O
U J6 AG9J47 ?rK; /JBJ= %J N=L= 73; 4M 9FAV== ;V5p
/JBJ= K6' _&JE y :K9@p /BK9V> %IJ4J 74J6 K=V/ 7JK=V96
K e\ UA U{V AG9J47 7K/JV6= ;JK> /JBJ= K6' _&JE y
/BK9V> %IJ4J 74J6 K=V/ 9J 6J K=V/ 7JK=V96O
:K9@p /BK9> J 6
AV6=
6G J 6 =
VV?p U J6 AG9J47 7K/J6 K* A= J=L 7K/J6 9K>EJ ".p
B V9O
=2`<(>)$<
O (X<G70 *rG7< Aoo
5pJE ;6 U J6 7K/JV6= U{V 7V<J'p
B V9 <JBJ 4M 9FAV== K5 J> <J9F %J>M JV& <JBJV/ AJ5J=./H 6Mp6 7J?
'6 ?rK; K6<My JV&6 9G <JBJV/ K?{J5L6/JV<J"p U7?JE 9J 9SKV/ 6Mp6 7IJ%
'6 ?rK; K6VEJK'/ JV&6O
O =,G23 49f<Aoo K9@E 9J 7AGV"= 7K=7e]L K &M 6J 3JK V>
5pJVE
U<J"p /qS7{ 3q ;6 U J6 ;q /qJ <JBJV A= J= A= J=L
U"V'V* 7J76 J=J
5pJVE= VV?p U<J"p /qS7{ 9K>EJ
K6<My V=
! K?{J5L6 3q K?{J5L6/J 7K/= ;J5pV; 7K?{. "B. J=L U J6
9pKy
" K?{J5L6/J 3q ;6 U J6 7K?{. 7K/ <JBJV/ U J6 ;JK>
U J6 9pKyV K6VEJ" K=EJ /JBJV U J6 K?{J5L6/JV<J"p U7?JE
9J 9SKV/ 7.J>L9:JV9 7P9qK65qJK=/ U J6 U;EJV4= '6p 7K?{.
K4V/ 9J U4 EJ= 9p9v]J K=V/ =JK' B6 9G y U;EJ4 JV> y
K?{J5L6 9pKy ;JK>V = 5LV6 %J N=L K=V/ 9J5p 3JV 6 9G
# K?{J5L6/JV<J"p U7?J 3q U J6 7K/JV6= ;6 U J6 U7?J 9J
9SK <JBJ U<J"p /qS7{ A= J=L U"V'V* 7J76 J=J
5pJVE= VV?p K?{J5L6/JV<J"p U7?J 9K>EJ U#J@.J V=O
O =m*`>7 *G'{< =.= Aoo A= J= A= J=L U"V'V* 7J76 J=J
K9K5 J=J K65qJK=/ 7e]JE K?{J5L6/J AGzJeb K9@VE A= J= 9G U<J"p /qS7{V
7V4? 74JV6= VV?p K7{LE 7V4J K;K* "+6 K=V/ 7JK=V9O
O .<=1G 0 ,<(X ,<( $<Aoo
5pJE 9G K9K5= K95J6 AJV7V{
U J6 ;JK>
/JBJ= 7K/JV6
5pJE 9G K9K5= K95J6}K> <3J<3:JV9
;JK6EJ %>J K6K/ K=V96
! K9K5 6M<JEL /JBJ= 7K/JV6 K?{J5L6/J ;qAP%L %J>M K=V96 9G
K9K5 J=J K65qJK=/ A;VE= ;V5p BJ U<J"p /qS7V{= AKB/ U=K'Kr
179
90
180
K=V96
" /JBJ= 7K/JV6 K?{J5L6/JV<J"p U7?J 9J 9SKV/ K6<My 9pKy"V.=
;5p B V/ "VC 6Mp6
%/N3qJG? 9pKyV
39J U<J"p /qS7{
/qS K>K!/:JV9 6p U J6 6M7J/ K65qJ=. K=V> UA 6M7JV/
K?{J5L6 KBAJV9 7K?{. 74J6 K=V96
# /JBJ= 7K/JV6 <K4
J 6 9>9F B 9J= 7P9q B V/ K?{J5L6/J
;qAP%L %J>M B EJ 3JV /JBJ B V> BJV
5pJE 9G K9K5=
K95JV6= AKB/ AMAJ;Ap K=EJ AGV?J56 K=V96 9G K9K5 J=J
K65qJK=/ A;VE= ;V5p y=R7 AGV?JK5/ ;qAP%L U<J"p /qS7V{=
AKB/ U=K'Kr K=V96
$ U;J* v2J:JK9 ;q A;VE= eb/ K9? ?/JG? A;E K?{J5L6 ?rK;
<JBJV/ 7VEJ'6LE /JKi K?{J 7J6 BJ K6K/ K=V96
% AlP.q K6' !=V% K?{J5L6/J ;qAP%L 7.E6 %J>M K=V96 9G
& U<J"p /qS7V{= K>K!/ 6M;K/ 9pK/V=V
;6 U J6 9pKyV
K?{J5L6 KBAJV9 K6<My K=V96 6J K<K6 6p U J6 ;JK>V = 5L6
K?{J5L6 K&V>6 9G K/K6 /JBJ 7K=/pJ" K=EJ JKAEJV&6 39J
?SG!>J :GV"= J=V. ;JK> /qS ;q%Np/ B EJV&6O
!
"
#
$
%
&
O <7 0 $X<=' 5 G$ .?=Âoo

JE = 5pJV4?
AV6=
6G 5pJV4?
K:6g=R7 <JBJ K &M 3J N 6J U 6
5pJE 9G
K9K5= K95J6 U;J/JV9 7K=%JK>/ U J6 K?{J5L6/J ;qAP%L= '6p ;JK>
/qS
9pKE/ U J6 V3q= '6p /JBJV JE = 74J6 K=V/ B V9 6JO
J;4J6L =J6L K6Ee. J 6
AV6=
6G
J 6 39J U J6 K9K5 9J JV4V? K:6g=R7 <JBJ K &M 3J N 6J
U 6
5pJVE= 5L6 K?{J5L6/J ;qAP%L 7K=%J>6J= VV?p
7VEJ'6LE U J6 K'K6A7 J;4J6L= '6p A= J= JV4? J=J
;JK> V >J VA 74JV6= K95J6 K=V/ 7JK=V9O
O *rG,2 *=0'2Y) $X<='0 `.$<Aoo U<J"p /qS7{

7VEJ'6LE AB J=LAB U J6 7K/JV6 9J BJ= G? K9V?V@ U>
4vbJV9' U7? =J= K6V4q? K4V/ 9G
5pJVE= VV?p
O .<=1 G *G'2 =)G'Y2)< *r'<)AooU<J"p /qS7{

5pJE 9G
K9K5= K95J6 U;J/JV9 U J6 7K/JV6 7K=%JK>/ U J6 K?{J5L6/J ;qAP%L
AlV q ;JK> V Alj9 A9q7 J= JK="=L 7V4? K6V4q?6J K4V9O
O =2`<(>) 2Z=.G 0 ,<(X ,<( $<Aoo
5pJE 9G K9K5= K95J6
AJV7V{ U J6 K?{J5L6 ?rK;
/JBJ= U7?J 9J 9SK K9V9 9MKAB JV=
5p9AJVE= AKB/
181
K?K!V96 9G K?{J5L6/J= U;EJ4 U?@ B 9J= 7= K6V'V

'6
4{ ?rK; KBAJV9 U<J"p K=9J= U%J K=V96
;JK>
/qS 7.L/ ;qAP%L 6M<JEL 9p9BJK= 7K?{. /JKi
K?{J 74J6 JV> BJK'= 3JK V96
K?{J5L6/J AlV q ;JK> 39J /JBJ= 7K/K6K5 /qS 74 A >
J 6J6M" JV4? ;JK6EJ %K>V96 9G K?{J5L6/J %NKy= 5L6
/JBJ= A > 4JE 4JKE/i 7J>6 K=V96
/JBJ= 7K?{V.= 6gK/ <J%J K=9J= '6p A;E A;E "SBL/ U J6
7=L{J K4V/ K/K6 9J5p 3JK V96
/JBJ= A; U?r.L= ?rK; "V.= U*r, K6E6 9p/L/ 6p U J6 U*r,
K6EV6= A4Ap B V96 6J
/JBJ= K?{J5L6/J AlV q ;JK>V = K9=RV U J6 K:V<J" 3JK V>
9G ;JK>V = K6 * B V/ BJ= U J6 7K/ J= 6J 7J V> K/K6
7K/ JV== '6p U<J"p /qS7V{= K6 * JV946 K=V/ 7JK=V96
9G
Al2V U<J"p /Tq7V{= KAJeb ;JK6EJ %K>V96 9G
U<J"p /Tq7V{= K>K!/ 7P9q 6MV;J46 9pK/V=V
/JBJ=
K?{J65L6/J J> A;J B EJ= 7= K/K6 K?{J5L6/J &JKCEJ <J V96
6JO
<K4 U J6 K?{J5L6 ?rK; /JBJ= K?{J5L6/J %NKy= ?/q 7J>V6 9p3q
B6 39J <K4 K?{J5L6/J JV>= U J6 A;VE Uv2_&JE K?{J5L6/J
&JKCEJ <J6 39J /JBJ= 7K?{V.= 6gK/ AlV q 9pJB/ K9=R7
K=V7J*q 7J EJ <JE 39J 9J5p/J K9K5 >G#6 JV' 6M7Kv]K/
/qV9p 9VB>J V=6 /JBJ B V> K/K6 9J U{;/ /JBJ= K7/J
9J K::J9 9J 'JK;64J=
:JV9 39J U<Y3:JV9 K9K5 J=J
K65qJK=/ {K/7P=. 74J6 9G K?{J5L6/J JV' /JBJ= '6p 9pKE/
3q ;JK> V U8=/ K4V/ 9J5p 3JK V96O
91
182
"
)=,92 (X<7
7VEJ'6LE K9V9K%/ B V> U J6 9pKy= K6 * B V/ 9y9p 9J

K99SK/ "B. K=V/ 7JK=V9
y 7K/JV6
5pJE 9G K9K5= K95J6 <3J<3:JV9 7JK>/
B V/V& K 6J BJ U4K!9J= '6p 7VEJ'6LE /4eb 9J 7=L{J
7K=%J>6J K=V/ 7JK=V9 9G
# K9K5 J=J K65qJK=/ 6p U J6 {;/J 7VEJ" K=V/ 7JK=V9O
*0<( 'j ,9 *s=$

O (<0<
0 (>) 2Z. <'<1G$0 <G'2 .<)X 0<0 'jAoo U J6
9pKy 5J=J
= 5L6 74 ?r; J4J>V/= U J6 JV4? 7J>6 K=V/ v2L J=
K=V> 39J 9p3q B V> K/K6 K/6 ;JA 7<qeb K96J?r; J=J4V 39J 7JI% BJ'J=
*J J 7<qeb 3q 4V 39J :E 4V 46LE B V96O
O `.$< *Y#Aoo /4 VV?p 7.L/ K9K5 AJV7V{ U<J"p /qS7{

K>K!/ JV4? J=J BJ= A > 39J U 39J
J V6= U J6 K95J6 >G#6 K=EJ
U J6 K? 9J K V?J=V %J N=L K=9J= 6M;K/ K4V> K/K6 7IJ% BJ'J= *J J 7<qeb
3q 4V 46LE B V96O
O (<0<
19 ) =07< =2z 4UG Y F <) @=^ 0<0 'jAoo U J6 K? =
K7/J ;J/J 9J K::J9 5J=J
= K95J6 >G#6 K=EJ U J6 K? AlV q %NKy
AlJ46 K=V> K/K6
BJ'J= *J J 7<qeb 3q4V 46LE B V96O
O .<=1 $YD $@&Y (X<G70 =,(<) 19 G)0 'jAoo
U J6 ;JK>
%/N3q 5pJVE= U J6 K95J6 >G#6 K=V> K/K6 7JI% BJ'J= *J J 7<qeb 3q4V
46LE B V96O
U< U{V J4J>/ 7 5J=J
= 5L6 U J6 3q4 JV=J7 V=
UA U{V J4J>/ BJ= =JE 74J6 JV> J4JE T/ 4V= 3q
AlP.q 9J BJ= U J6 G? AGK? ;KB>JV U< J=V. y 3q4
JV=J7 =J B EJV& UA J=. B V/ djM/ {K/= '6p {K/7P=.
KBAJV9 74JV6= JV4? K4V/ 7JK=V9O
O )?G.<='$ )?*=\L=$0 4.G7 . ?0>0 =,=).G7 < 0<0 'jAoo U J6
;KB>J %/N3q 5pJVE= K9K5 U;J/JV9 /JBJ= ;JK>
/qS
6MV;JK4/
6M7Kv]K/ JV> 6"4 3q 39J K'K6VA= K9K6;VE U J6 J' K=V> K/K6
BJ'J= *J J 7<qeb 3q4V 46LE B V96O
O (<0<
19 ) 0<0 'jAoo U J6 9pKy 5J=J
= K95J6 ;J6J BE
6J =R7 ?Ky %JK>/ U J6 <e7JK/ U J6 7K/JV6 9p9BJV== '6p K9Kz K=V>
39J :JCJ K4V> 39J U J6 K9Vz/J 9J :JCJK*EJ= 7K/K6K5 KBAJV9 BJ K9Kz
K=9J= '6p 39J :JCJ U4 EJ= '6p AG"B K=V> K/K6 K/6 ;JA 7<qeb J=J4V
183
92
184
39J
BJ'J= *J J 7<qeb 3q4V
39J :E 4V 46LE B V96O
3q4V
O =).R$. . ?0> 5<G00 .5<G0 . ?0> *r'<G)0 'jAoo

U J6 ;JK>
J4? 5pJVE= 5L6 U#JK@/ K6;g/; ;'M=L BJV== ; BJV= U J6 ?rK; V ;'M=L
74J6 K=V> K/K6
9&= 7<qeb J=J4V 39J 7IJ% BJ'J= *J J 7<qeb 3q4V
39J :E 4V 46LE B V96O
U< U{V J4J>/ 75J=J
= 5L6 U J6 4 JV=J7 V=
UAV{V J4J>/ BJ= =JE 74J6 JV> y=R7 U J6 >G#6 6J
B V> AGK? ?rK; V U< ;'M=L 7V4E B / 9G y=R7 >G#6
K=EJ ;'M=L KBAJV9 U< 3q 74J6 =J B EJV& BJ= 7J3qV p=
7K=;J. 3q /JBJV 74J6 K=9J= JV4? K4V/ 7JK=V9O
O '? Y
>G#6 K=EJ U
J=V. AJG#JK/
46LE B V96
7<qeb J=J4V
B V96O
O F, < )> (.Y ,< 1 < G 0 'jAoo U J6 ?rK; U J6 U9 J 6L

5;q#* =^ K=V> 39J %J>J EJ U"V> 39J BJV J"J EJ U6 EJ= '6p U J6
J' K=V> K/K6
9FA= 7<qeb J=J4V 39J 7IJ% BJ'J= *J J 7<qeb 3q4V
39J :E 4V 46LE B V96O
U J6 ;JK> U J6 U9 J 6L > J * =^ K=V> 39J %J>J EJ
U"V> 39J BJV J"J EJ U6 EJ= '6p U J6 J' K=V> K/K6
9FA= 7<qeb J=J4V 39J 7IJ% BJ'J= *J J 7<qeb 3q4V
39J :E 4V 46LE B V96O
O F, < )> (.Y ,< 1 < G *rG0<= $ 0<0 'jAoo U J6 9pKy U J6
U9 J 6L 5;q#* 9J > J V* G?"BV.= '6p 39J BJ= '6p 3q !=% 9J
A=9=JVB= '6p 39J 6p U J6:JV9 BJV J"J EJ U6 EJ= '6p U J6 9pKyV
7V=JK%/ 9J FAJKB/ K=V> K/K6
9FA= 7<qeb J=J4V 39J 7IJ% BJ'J=
*J J 7<qeb 3q4V 39J :E 4V 46LE B V96O
)<0 F)<= 2 *r'<G) ,X&Y$<0 'jAoo U J6 9pKy

J V6= K95J6
J6 4M#q*6J AlV q U6JK*? K4V/ 9p3q B V> K/K6 <K4 4M#q*6J=
?JK==L '!; BE /JBJ B V>
39J <K4 4M#q*6J= J=V. 'L96 BJK6 #V* /JBJ B V> &E ;JA
39J K/6 BJ'J= *J J 7<qeb 3q4V 39J :E 4V 46LE
O ="G. $<G10 <G 92 r5# ,< *rG0< #<0 'jAooU J6 9pKy U J6 K-V;
/JV>= JV' G?"B. K=V> 39J 6p U J6 9pKyV
BJV/ G?"BV.
7V=JK%/ 9J FAJKB/ =V> 39J 6p U J6:JV9 BJV J"J EJ U6 EJ= '6p
U J6 J' K=V> K/K6
9FA= 7<qeb J=J4V 39J 7IJ% BJ'J= *J J 7<qeb
3q4V 39J :E 4V 46LE B V96O
O 48 2Z. < 0G#0 'jAoo

U J6 9pKy 5J=J
= U J6 K95J6
>G#6 K=V> K/K6 4M 9FA= 7<qeb J=J4V 39J 4? BJ'J= *J J 7<qeb 3q4V
39J :E 4V 46LE B V96O
U J6 ?rK; 5J=J
= U J6 K95J6 >G#6 K=V> K/K6
9FA= 7<qeb J=J4V 39J 7IJ% BJ'J= *J J 7<qeb 3q4V 39J
:E 4V 46LE B V96O
U J6 U*r, K6E6 39J ?rK; 9p/L/ 6p U J6 9pKy 5J=J
= U J6 K95J6 >G#6 K=V> K/K6 4M 9FA= 7<qeb J=J4V 39J
4? BJ'J= *J J 7<qeb 3q4V 39J :E 4V 46LE B V96O
O (<0<
19 G)0 'jOoo U J6 ;JK> 5J=J
= K95J6
>G#6 K=V> K/K6
9FA= 7<qeb J=J4V 39J 7JI% BJ'J= *J J 7<qeb 3q4V
39J :E 4V 46LE B V96O
O -=,3X $5=,1 ,9 F Z! =)7) $5=,G10 &Y <$V4<G$0 'jAoo
U J6 9pKy ?rK; "V.= U J6 :K9@p /BK9V>= 3q J/mAJF K=V> /&=R7
K=V> 39J AF VV?p K6V'= JV' 9pE K=V> K/K6 K/6 9FA= 7<qeb
J=J4V 46LE B V96 9G K5 e\ K/K6 3q4V 46LE B V96O
O =)[=k $X<=' -9G 0 'jAoo U J6 9pKy

J V6= 5L6 9?p
7J>6LE U J6 K6uK KAJeb 9J U=JVE4J4 :G" K=V> K/K6
9FA= 7<qeb
J=J4V 39J 4? BJ'J= *J J 7<qeb 3q4V 39J :E 4V 46LE B V96O
,X< X<Aoo U J6 ;JK> /JBJ= 7K/JV6= ?rK; "V.= U J6 :K9@p /BK9V>=

/JBJ= 7V4E %IJ4J 39J /F /qS ?rK; "V.= ;'M=L B V/ /Lq/ y /BK9V>=
%IJ4J K/6 ;JVA= K5 A;E 7<qeb ?r; 7K=%J>V = AVebJ@;/ U J6 <MKyAG"/
J=. 9p/L/ <3J A;VE y /BK9V> ';J K=V/ 9p3q B V> K/K6 y /BK9V>=
O =)[=k $X<=' ,<\O,<7G) ,X&Y$<0 'jAoo

J V6= 5L6 U J6
K6uK KAJeb 9J U=JVE4J4 9Jvb9JEV6= '6p 4JEL U J6 9pKy _&J T/:JV9 BJ
9Jvb9JEV6 9p3q B V> K/K6 4M 9FA= 7<qeb J=J4V 39J 4? BJ'J= *J J 7<qeb
185
39J :E 4V 46LE B V96O
93
186
*J J J/mAJF K=EJV&6 9K>EJ ".p B V96O

?rK; "V.= 39J ;JK> "V.= U J6 U*r, K6EV6= U J6 ;q /qJ
9J ;q%J=L y U*r, K6EV6= /BK9V>= 3q J/mAJF K=V>
/&=R7 K=V> 39J AF VV?p K6V'= JV' 9pE K=V> K/K6
9FA= 7<qeb J=J4V 46LE B V96 9G K5 e\ K/K6 3q
4V 46LE B V96O
5J=J= 5L6 JV=JK7/ 3q4 U< 7K=;J. 3q K:<My 9pKy
J/mAJF 9J /&=R7 9J K6' JV' 9pE K=EJV&6 9K>EJ J4J>/
7;J. 7J V9 UA 7K=;J. B V/ 7JK=V9 9G 3q4V= *J J J4JE
B EJ= 7= J4J>/ BJ AGK? /BK9V> 7P=. K=EJ K4V9O
!
"
#
O F0= =~Z E$ F Z! =)7G)0 .Y <Gj0 'jAoo U J6 9pKy

U=K'Kr T/ 39J U=K'Kr 9JK/> B EJV& ;6 U J6 U*r, K6EV6= U=K'Vr?6
7JK AGzJeb U J6 ;q J 9p/L/ 6p U J6 ;q JV G?"B. K=V> 39J
6p U J6 9pKyV y=R7 ;q JV G?"BV.= '6p FAJKB/ 9J 7V=JK%/ K=V>
39J y=R7 U J6 U*r, K6EV6= /BK9V>= '6p A4Ap %IJ4J 9p/L/ 6p U J6
%IJ4J J4JE K=V> K/K6 &E ;JA 7<qeb J=J4V 39J 4M BJ'J= *J J 7<qeb
3q4V 39J :E 4V 46LE B V96O
O F Z! =)7G)0 Ht$ 4'4X *G'0 'jAoo U J6 9pKy

A;VE
JK5 U*r, K6EV6= A4Ap B V> 9J 3JK V> K/K6 &E ;JA 7<qeb J=J4V
39J 4M BJ'J= *J J 7<qeb 3q4V 39J :E 4V 46LE B V96O
O )X<7-<G, $&X *r <G20 'jAoo U J6 9pKy

J V6= K95J6 >G#6
K=EJ /JBJ= A= J=L 4JKE/i 7J>6 JV> /JBJ= U"J%=L:P/ B EJV& =R7 K6;qJ. 9J
9p9AJ AGzJeb U J6 U"J76LE /3p 39J
J V6= 5L6 U J6 7=L{J= 8>
7 J? K=EJ K4V> K/K6 &E ;JA 7<qeb J=J4V 39J 4M BJ'J= *J J 7<qeb
3q4V 39J :E 4V 46LE B V96O
O (<0<
)< .<)<0 'jAooU J6 9pKy AJK>VA= AVebJ@;/ 9p/L/
6p U J6 J=V. 5J=J
= K95J6 ;JK6V/ 9p3q B V> K/K6 &E ;JA 7<qeb
J=J4V 39J 4M BJ'J= *J J 7<qeb 3q4V 39J :E 4V 46LE B V96O
O K.&X< 4`.$< *r$X7)*m ,X,5<G00 'jAoo U J6 9pKy
J V6=
U J6 K95JV6= 5L6 6p U J6 9pKyV 74 U J6 A{;/J 7 K6V'= 9=J9V=
74 A{;/J7 KBAJV9 AJV6 9p9BJ= K=V> 9J 9p9BJV== U%J K=V> 39J
6p U J6 9pKyV AJV6 BJ 9p9BJ= K=V/ 39J 9p9BJV== U%J K=V/
6M;K/ K4V> K/K6 K/6 ;JA 7<qeb J=J4V 39J
39J :E 4V 46LE B V96O
O 2Z=. G#0 4<(<0# *0<G(0 'jAoo

J V6= 6p K95J6J9>L
AJV7V{ U J6 7K/JV6 K6VEJK'/ U J6 ?rK; /JBJ= 7= 4JKE/i 9J /q9p
JV=J7 J=L U J6 J 6 9J U J6 K9K5 7K95J6 9J vZL; 9J U J6 K9K5 Alo/
JV4V?= U J6 K95J6 >G#6 K=V> K/K6 7IJ%?/ *J J 7<qeb 3q4V 46LE
B V96O
O ,<(< *r'<G)0 'jAoo
U J6 9pKy
J 6 9J K9K5 7K95J6 9J
vZLV;= 5L6 4JKE/i 7J>6=/ U J6 ;q /qJV BJ= 5L6 /JBJ= 4JKE/i 9J /q9p
7J>V6 _&J T/:JV9 9J5J 74J6 K=V> 39J y=R7 U J6 9pKyV U J6 7K/J6
O =.&X< =,,0# $X<='0 'jAoo U J6 9pKy

9v\"/ :M> 9K>EJ 'JV66 9J 'J6J= J=. JV& =R7 U J6 9.q6J
187
7/J=.J= VV?p
J 6 9J U J6 K9K5 K95J6 9J 7K95J6 9J
vZLV;= 5L6 ={.LE U J6 U=K'J= U6JK*? 6K3 39J 6p U J6
4K>> 4vbJV9V' K>K79 K=V>
y=R7 U J6 U=K'J= U6JK*? 6K3 9J 6p U J6 4K>> 4vbJV9V'
K>K79 =J= 7VEJ'6 JV& =R7 U J6 K9@E BJV/ _&J T/:JV9
K>K79 =J B V/ 9J4 =JK!V> 39J 9J4 =J!J= 6M;K/ K4V>
y=R7 U J6 U=K'J= U6JK*? 6K3 9J 6p U J6 4K>>
4vbJV9V'= K8A K7 9p/L/ JK5 K7 ={. K=V>
9v\"/ :M> 9K>EJ 'JV66 9J 'J6J= J=. JV& =R7 U J6
4=!Jvb 6 ?J 6K3 K99=. /3p K=V7J*q U6JK*? 39J 6p U J6
4K>> 4vbJV9'
J 6 39J U J6 K9K5 K95J6 7K95J6 9J U J6
vZLV;= 5L6 U J6 ;q /qJ 9J /qS7V{= K6 * _&J T/:JV9
7J+J V> 9J 7J+J 9J= 6M;K/ K4V> 39J
J 6 39J U J6 K9K5 K95J6 7K95J6 9J vZLV;= 5L6 ={.LE
9J U7K=/9p U J6 6 ?J /JK> J 6K3 U=K'J= /3p K=V7J*q
39J 6p U J6 4K>> 4vbJV9' _&J T/:JV9 ={. K=V/ 39J
U7=. K=V/ 9p3q B V> 39J "JK8>K/ K=V> K/K6 &E ;JA
7<qeb J=J4V 39J 7IJ% BJ'J= *J J 7<qeb 3q4V 39J :E
4V 46LE B V96O
94
188
AlV q
7K=4?q6
9VB>J
3q4V
BJ= 5L6 7VEJ'6LE 9J 6MV;JK4/ U J6 7V9? /4eb 7=L{J 9J

K=9J= '6p <MKyAG"/ AMV<J" K4V/ _&J T/:JV9 v2L J= K=V> 9J
K=V> K/K6 &E 9FA= 7<qeb J=J4V 39J 4M BJ'J= *J J 7<qeb
39J :E 4V 46LE B V96O
4M 9FA= 7<qeb J=J4V 39J 4? BJ'J= *J J 7<qeb 3q4V

39J :E 4V 46LE B V96 39J
" <K4 y >G#V6= J=V. U J6 7K/JV6 U J6 ?rK; 9J 6p U J6
9pKy 6p:JV9 '!;7J B6 9J /JBJ= 6p U J6 K974 ASK BE
/JBJ B V> &E ;JA 7<qeb J=J4V 39J 4M BJ'J= *J J 7<qeb
3q4V 39J :E4V 46LE B V96O
U J6 J4J>/
5J=J= 5L6 3q4V= JV4? 74J6 JV> 4V=
J4JE T/ V3q= AlP.q 9J U J6 G? {K/7P=. KBAJV9 '!; 7J
9pKyV
39J /JBJ= ;S/Mp B V> /JBJ= J 6"/ 7K/K6K5V
74JV6= '6p JV4? K4V/ 7JK=V9O
".7'J/eL 9JG>JV4? A= J= 7 JK?/ U"V'V* :M>zV; &E ;JVA= v]V> &E 9FA= ;MK4r/
BVEV&O y :M> AGV?JK5/ 6J B EJE J;JV4= U"V'V* 9K.q/ &E 9FA= &J7V/ BV>JO
U J6 9pKy 7 5J=J
K>K!/ 4JKE/i 7J>6=/ U J6
;q /qJ= />9 6M<JEL /JBJ= AloMV!
J 6 9J U J6 K9K5
7K95J6 9J vZL; U;J/JV9 =K{/ U J6 U=K'J= 6K3 9J 4K>>
4vbJV9' BJK'= K=V/ _&J T/:JV9 v2L J= K=V> 9J 9p3q B V>
39J y=R7 4JKE/i 7J>6=/ U J6 ;q /qJ= AloMV! U J6 9pKyV
BJK'= B V/ 9J /JBJ= '9J69f4L "B. K=V/ _&J T/:JV9 9J5J
K4V> 9J 9J5J U4 EJ= U%J K=V> K/K6 K/6 ;JA 7<qeb J=J4V
39J
BJ'J= *J J 7<qeb 3q4V 39J :E 4V 46LE
B V96O
J 6 9J U J6 K9K5 7K95J6 9J vZLV; y=R7 >G#V6= '6p

_%/= U J6 ?JKvb= 9p9v]J 3JK V> BJ= U{V
5J=J= U J6
K &M 7V<J'p B V9 6JO
O <'<1G$0 =$*7 <G'2 *r'<G)0 `.$<Aoo
J 6 9J U J6
K9K5 7K95J6 9J vZLV;= 5L6 U J6 7=JV5= '6p U J6 7K/JV6= ;JK>V = 4
B V> J4J>/ K>K!/ JV4? J=J 4V= K/K=y KBAJV9 U< J=V. 7=J5
AG#K*/ B EJV& UA J=. 4P=L:P/ K=9J= '6p JV4V? K>K!/ K6K4q A;VE=
;V5p <JBJ U J6 4=!JVvb= K:KV/ 9K5q/ =J <J V9 BJV/ K>K!/ 9p9v]J "B.
K=9J= '6p /JBJV K6V4q? K4V/ 7JK=V9O
U< U{V 7 5J=J
= 5L6 U J6 JV4? 74J6 =J BE
UAV{V 7K/JV6= ;JK> JV4V?= K6K4q A;VE 9J 9K5q/ A;VE
y 75J=JE K>K!/ U J6 7=J5 <JBJ= '6p /JBJ= 4
B EJV& 9pJB/:JV9 K=EJ <J 9J= '6p 46LE B V96 6JO
<K4 y A;VE= ;V5p 7 5J=J
= 5L6 74 JV4?
7M=J7MK=:JV9 7J>6 =J 6J BE /JBJ B V> ;JK>
y A;E U?@
B 9J= 7= J= 7=J5 K=EJV&6 9K>EJ ".p B V96 9G BJ=
'6p K/K6 &E ;JA 7<qeb J=J4V 39J 4M BJ'J= *J J 7<qeb
3q4V 39J :E 4V 46LE B V96O
O )X<)X *0<G(0 'jAoo U J6 9pKy

J 6 9J U J6 K9K5 7K95J6
9J vZLV;= U J6 K95J6 >G#6 K=V> 9J ;JK6V/ 9p3q B V> 9G BJ= '6p BJV/
6p U J6 4V= K95J6 6J 3JK V> K/K6 K/6 ;JA 7<qeb J=J4V 39J
BJ'J=
*J J 7<qeb 3q4V 39J :E 4V 46LE B V96O
O *B,Y 'j<f<0 *0 ,=(Y$ 'jAoo
J 6 9J U J6 K9K5 7K95J6 9J
vZLV;= 5L6 U J6 7=JV5= '6p 4JJ7J U J6 9pKy 7M6=JE y=R7 U J6
7=JV5= '6p U4J@L AJ9pvb B V> K/K6 /JBJ= K/LE 9J= 7=JV5= U{V BJ=
'6p K65qJK=/ 4V= K}. 4V 46LE B V96 H
/V9 ?/q 3JV U<
5J=J= VV?p K/LE 9JV== 7=J5 73; 4JJ= 4M
9FA= 7= AG#K*/ B V> 73; 4JJ= K9@E K9V9%6JE J6J B V9 6JO
O =,*d) *=0#=$4U)R < ) 19 G)0 'jAoo
5pJVE=
6p <JBJ K &M 3J N 6J U 6 U J6 9pKy
J 6 9J U J6 K9K5 7K95J6 9J
vZLV;= U J6 K95J6 >G#6 K=V> K/K6
<K4 y >G#V6= J=V. 7J.BJ6L BE /JBJ B V> %J= 9FA= 7<qeb
J=J4V 39J
>{ *J J 7<qeb 3q4V 39J :E 4V
46LE B V96
! <K4 y >G#V6= J=V. AJG#JK/ ?J=LK= '!; BE /JBJ B V>
189
O ,74 *r.<G#0 '<=7$SAoo

U J6 9pKy U J6 K6K4q 9EVA= ; 9J
U9?L 9EAL B EJ= J=V. /JBJ= U J6 J' <K4
J V6= 5L6 4V<J"p
7=J5 BE 9G <K4 J4J>V/= ;V/ y 9pKy 4S?p/H y=R7 9EVA= 7V= 9J
95
190
6LV% B6 /JBJ B V> K/K6 y=R7 9EVA= 7V= 9J 6LV%= 9EAL 6VB6 BJ 7;JV.=
:J= K:<My 9pKy= 7= 9/qJ V9O
U J6 U=K'J,q K%K FA <K4
;V;q 7/pE67 74J6 V=6 U<
K/K6 U J6 ?rK; V 7=L{J K=EJV&6 9G K/K6 K9?nJA V=6 U<
BJV/ K>K!/ 9EA /JBJ= 9EA /JBJ B V>
J V6=
VV?p y 7/pE67 y ?rK;V = 9EA AlV q %PCJeb 7;J.
9K>EJ ".p B V9O
O *0<G(0 =0G*< YAoo U J6 9pKy /qS

J 6 9J U J6 K9K5
7K95J6 9J vZLV;= >G#6 9J BJ ;JK6EJ %K>V/ v2L TK/ AlV q ?r; 7K=%J>
75J6 7K=4?q
39J :K9@p /BK9> K6Ee
39J /JBJV4= U J6 5vb6
;q /qJ= K6 * 9"K/= '6p 9J <3J<3 J<qz; "BV.= '6p K=V7J*q =J <J V9O
O .<.1< *r$X<5<0Aoo U< 9pKy= K:V<JV"
J 6 9J U J6 K9K5
7K95J6 9J vZLV;= 5L6 U J6 ;J;>J =^ B EJV& UA 9pKy= 4=!Jvb 9p/L/ y
;J;>J 7/pJBJ= =J <J V9 6J H
/V9 ?/q 3JV U< ?r; 7K=%J> 9J 75J6 7K=4?q 9J :K9@p /BK9> K6Ee
= 6M;K/ 9pK/V=V /JBJV4= 5vb6 U J6 ;q /qJ /qS 4JVE= T/ U J6 ;J;>J
7/pJBJ= =J <J V9 6JO
O F <U<)> $X<='0 *0<(Aoo U< U{V

J 6 9J U J6 K9K5
7K95J6 9J vZLV;= 5L6 U J6 7=J5L U J6 U JlJ6L 9J 6p U J6 AGK9K59
AGv]J 9J U J6 8J;q BE UA U{V BJ= J' ;q 7K=%J>6J= 9pJ7JV= AKzE:JV9
'KC/ BJ= 7V/p 7K=%J>
G?L4J= 9p9v]J7 AK%9 9J 6p U J6 ;q /qJ
9J 7K/K6K5 y 7=J5 K=EJV&6 9K>EJ ".p B V96 <K4 6J K/K6 7;J. K=V/
7JV=6 U< 7=J5K* /JBJ= J/AJV= 9J AloK/zV; BE 6J 9J BJ U=JV5= '6p
K/K6 AJ5p;/ U%J K=EJK&V>6O
O *0<( =, <0<&Y r5#Aoo
?r; J4J>/ 9p/L/ 6p U J6 J4J>/
J 6 9J U J6 K9K5 7K95J6 9J vZLV;= 5L6 U J6 7=JV5= K9%J= K=V9 6JO
K6;gK>K!/ 9pKy"V.= K:V<J" 9p/L/ U J6 ?r; J4J>/
J 6 9J U J6 K9K5 7K95J6 9J vZLV;= 5L6 U J6 7=J5 K9%J=J3q
"B. K=V9 6J <3J H
AG{N 9pKy 9J AG{M U*r, K6E6
! VEJ4? 5pJE 9J 5J=J
= 5L6 U J6 7=JV5= U{V ?r;
7K=%J>
" A4? 5pJVE= 5L6 U J6 7=JV5= U{V *rJK U9JV,q=
U%EJ=;pJ6 39J :K9@p /BK9> K6Ee
# J4? 5pJVE= 5L6 U J6 7=JV5= U{V U<J"p /qS7{
$ 6p U J6 7=JV5= U{V 75J6 7K=4?q
39J /JBJV4= 5L6
/4 VV?p {;/J7J U J6 ;q /qJO
O =-/?=^ $<.<='Aoo
J 6 9J U J6 K9K5 7K95J6 9J vZLV; K:6g=R7
K &M 6J 3JK V> BJV4= 5L6 U J6 7=J5 U J6 ?r; J4J>/ K9%J=J3q "B.
K=V9 6J <K4 6J /FAlV q K:V<J" 7=J5 AG#K*/ B 9J= &E ;JVA= ;V5p U7?
=J BEO
191
96
192
=,92 (X<7
*r2<4) *=0'2Y)
7JK=V9O
U<V{V 7 75J6 7K=4?q
AB J=L 75J6 7K=4?q
39J
7K=4?q K6<My =J BE UAV{V A= J= y 7J7V6
J V6= 5L6 /JBJV4= 7V/pV = ;qV{ 9J >J J 9J
!K/EJ=J5L6 7K/J6 K65qJ=. K=EJ K4V9O
75J6 7K=4?qV =
J V6= 5L6 /JBJV 74 {;/J &JCJ
A;" U4V? '6 7K=4?qV = {;/J 3JK V9O
A > 7 75J6 7K=4?q AB J=L 75J6 7K=4?q 9G 7K=4?qV =
7= 75J6 7K=4?qV = /iJ95J6 K6EeV.= {;/J 3JK V9O
75J6 7K=4?q K>K!/ AJ5J=. 9J K9V?@ JV4? J=J /JBJ= U J6
{;/J 9J 4JKE/i U J6 7 75J6 7K=4?q AB J=L 75J6 7K=4?q
9J 7K=4?qV = 7= 7q. K=V/ 7JK=V96O
;JV qf*J > U;=L6 K,7J*qV;Vf*= A > K7K7J> K8AJ= /JBJV4=
!K/EJ=J5L6 >J JE @ 5pJVE= 5L6 7.L/ 7K95JV6= VV?p
74JK5 J=J5L6 7K/J6 7K=4?q B V96O
$X<='
O 2Z. *=0 <1

$X<='Aoo
J V6= VV?p A= J= A= J=L
U"V'V* 7J76 J=J
'6 ?r; 7K=%J> K6<My K=V9 9G 7VEJ'6LE AG!p
K/K=y ?r; 7K=%J> <M"m ?r; 7K=%J>
7 ?r; 7K=%J>
9G AB J=L ?r;
7K=%J> K6<My K=V/ 7JK=V9O
U< U{V K/K=y ?r; 7K=%J> <M"m ?r; 7K=%J>
7 ?r;
7K=%J> 9J AB J=L ?r; 7K=%J> K6<My =J BE UA U{V A= J=
y 7J7V6
J V6= 5L6 /JBJV4= 7V/pV = ;qV{ 9J
>J J K65qJ=. K=EJ K4V9O
A > K/K=y ?r; 7K=%J> <M"m ?r; 7K=%J>
7 ?r; 7K=%J>
9G AB J=L ?r; 7K=%J>V = 7= ?r; 7K=%J>V = /iJ95J6 9G
K6EeV.= {;/J 3JK V9O
?r; 7K=%J>V = K6;g=R7 {;/J 4JKE/i 3JK V9 <3JH
VEJ4? 5pJVE= 5L6 U*r,
K6E6 U=K'Kr =. 9G
/4 VV?p U=K'J= ={.
! U J6 7=JV5= '6p 9J AF ?r; J%=V.= '6p 39J VEJ4?
5pJVE= U J6 K95J6 :GV"= '6p ?r; J4J>V/ K:V<J" U7? =.
" U J6 7K/J6 7K/J67M AlV q U J6 U*r, K6E6 U<Y3 4=
@J K@ 7K/K6K5 KBAJV9 7/pKE/ B 9J= K5 J=L /JBJ K65qJ=.
# U*r, K6EV6= J<qK69qJBL K;K*= K69qJ%6 9G U J6 U"J76 K69qJ%6
/iJ95J6
$ U J6 K? K9V=JV5 AJK>A KBAJV9 /q9p 7J>6
% G?"B. J=L K;K*= J' ;q /iJ95J6 9G
&
J 6 9J K9K5 J=J K7q/ 6p U J6 4JKE/i 7J>6O
?r; 7K=%J> K>K!/ AJ5J=. 9J K9V?@ JV4? J=J /JBJ= U J6
{;/J 9J 4JKE/i U J6 K/K=y ?r; 7K=%J> <M"m ?r; 7K=%J>
7 ?r; 7K=%J> 9J AB J=L ?r; 7K=%J>V = 7= 7q. K=V/
7JK=V96O
O *r(<) *=0'2Y
$X<='Aoo
J V6= VV?p A= J= A= J=L
U"V'V* 7J76 J=J
'6 75J6 7K=4?q K6<My K=V9 9G 7VEJ'6LE AG!p
7 75J6 7K=4?q AB J=L 75J6 7K=4?q
39J 7K=4?q K6<My K=V/
193
O *r(<) *=0'2Y
$X<='0 `.$<
'<=7$SAoo
J V6=
VV?p 75J6 7K=4?q 9J U J6 7 75J6 7K=4?q AB J=L 75J6 7K=4?q 9J
7K=4?qV = /JBJV4= !K/EJ=J5L6 >J JE K6;g=R7 {;/J 9J 4JKE/i 3JK V9
<3JH
7VEJ'6LE AB J=L AB JV= /JBJ= K9V9%6JE U J6 7K/J6 KBAJV9
".p 9J 9p9/ U J6 v]J6 JGK"6J U6Y<J6 9J <J69JBV6 U6J
!
J 6 9J U J6 K9K5 7K95J6 9J vZL; U;J/JV9 =K{/ U J6
U=K'J= U= ,q 6K37 U6JK*? 7/pE67 9J 6p U J6 4K>>
4vbJV9' />9 =J 9G BJ J* 7K=4?q6 9J 7=L{J =J 9J
BJ= 6 > =J
" U J6 7K/J6 9J BJV/ K6<My U J6 ?rK; AlV q
J 6 9J
U J6 K9K5 7K95J6 9J vZLV;= U J6 K95J6 <3J<3:JV9 ;J6J B V/V&
K 6J BJ K65qJ=V.= '6p 7VEJ'6LE 6MAJ6 9J 7=L{.
# U J6 7K/JV6 7J EJ K"EJV& 9J U J6 7K/JV6 9p9KB/ 7P9q9/qL
4M ;JVA= ;V5p %J N=LV/ K6<My K&V>6 9J JV&6 9K>EJ K9?nJA
=R7 U J6 U>JV =
J 6 9J U J6 K9K5 7K95J6 9J vZL;
AlK q/ U J6 K9@VE '9J69f4L "B.
97
194
$ '9J69f4L 9J 7=L{J "B. =J B EJV& =R7 7rV/p 9pKy= K6 *

B V/ A/p/J 7K/7J4V6= '6p '9J69f4L 9J 7=L{J AGzJeb U= ,q
9J J"'7V v2J{= "B.
% 7VEJ'6 B V> U J6 ;JK> /qS =K{/ U J6 U=K'J= U= ,q
7/pE67 U6JK*? 9J 6p U J6 4K>> 4vbJV9' Al2V /JBJ= 9J
/F /qS K6<My U J6 9pKy= K6 * B V/ W K8EF 9J 9pJ!pJ />9
=J 9G
&
J 6 9J U J6 K9K5 J=J JV=JK7/ 6p U J6 {;/J 7VEJ" 9J
4JKE/i AlJ46O
J 6 9J U J6 K9K5 7K95J6 9J vZLV;= 5L6 {;/J 7VEJ" 9J
4JKE/i 7J>V6= '6p 7VEJ'6LE U J6 7V9? 7K=4?q6 7=L{.
6MAJ6 9J 6p U J6 J' =J= '6p A > 7e]J 9J 9p9v]J
7K=4?qV = />9 6M<JEL U J6 7K/JV6= ;JK> V K=V/ B V9O
7V/p ;JK> V
J 6 9J U J6 K9K5 7K95J6 9J vZLV;=
VV?p A > U= ,q U=K'J= 9G 6p U J6 4K>> 4vbJV9'
7=L{J= '6p 7K=4?qV = K6 * /JBJ= />9 6M<JEL BJK'= K=V/
B V9 9G y 7K=4?qV = %JKB4J 6M<JEL /FAlV q 6p U J6
/3p A=9=JB K=V/ B V9O
J 6 9J U J6 K9K5 7K95J6 9J vZLV;= 7VEJ" AGzJeb U J6
9pJ7JV= BJ= 5L6 4JKE/i 7J>V6= 7VEJ'V6 U J6 7K=4?q U J6
;JK>V = K6 * B V/ U J6 U= ,q U=K'J= 9J 6p U J6 4K>>
4vbJV9' />9 K=V/ 9G BJ J* K=V/ 7JK=V96O
75J6 7K=4?q
39J /JBJ= K6 * B V/ /4 VV?p {;/J7J
/JBJ= 5vb6 U J6 ;q /qJ
J 6 9J U J6 K9K5 7K95J6 9J
vZLV;= 5L6 /JBJ= !K/EJ=J5L6 U J6 K9@VE U J6 7=JV5=
'6p U J6 9pKy= K9=RV ?r; J4J>V/ K:V<J" U7? K=V/
7JK=V96O
K=V96O
y K6Ee *rJK U9JV,q= A:JE G?"B. K=V/ 7JK=V96 K e\
U:J* K4V/ 7JK=V96 6JO
y K6Ee *rJK U9JV,q= U%EJ=;pJV6= AKB/ 7=J;?qzV; U9JV,q=
A:J JBhJ6 K=V96 9G A:J= J<qK99=.L K>K79
={.
K=V96O
y K6Ee *rJK U9JV,q= KAJeb 9Jvb9JEV6= '6p 4JEL 3JK V96O
y K6Ee 7VEJ'6 ;V6 K=V> U J6 %J 9J"J6 ;JK>V = K6 *
B V/ y :K9@p /BK9> AlV q KBAJ9 />9 K=V/ 7JK=V96O
y K6Ee
39J /JBJ= K6 * B V/ {;/J7J U J6 9pKy U<
U J6 <MKy AG"/ A;VE U6JK*? 74J6 K=EJ U J6 %J 9J"JV6 39J
/FAGzJeb U J6 9JCL#V= 7V9? K=V/ 7JK=V96 9G BJ= 4JKEV/i
K6VEJK'/ U J6 9pKy= K6 * B V/ %J 9J"JV6= ?rK; "V.= K6VEJ"
9J ;'M=L 7K=V?J5 AlV q U J6 KBAJ97 U=K'J= 39J 6p
U J6 4K>> 4vbJV9' /JBJ= 7=L{J= '6p />9 K=V/ 7JK=V96O
y K6Ee 9J /JBJ= K6 * B V/ {;/J7J U J6 9pKy U J6
;JK> 9J /JBJ= U J6 ;q /qJ ;q%J=L 9J 7K/K6K5V
39J %J
9J"J6 9J /FAlK q/ U J6 9JCL#V== 4JKEV/i K6VEJK'/ U J6 9pKy
39J y %J 9J"JV6 ?rK; 9J ?rK; K&> 9K>EJ /JBJ= ;V6 BE
=R7 U J6 9pKyV 7 5J=J
K>K!/ U J6 K9@VE 7=L{J
K=V/ 7JK=V96O
y K6Ee K9K5 J=J K65qJK=/ 6p U J6 {;/J 7VEJ" K=V/
7JK=V96O
O =54<, =)0>`<Aoo
A= J= /qS K6V4qK?/ 7e]JE 8=V; U J6
U9J,q BJ= KBAJ9 ={. K=V9O
U J6 U9JV,q= JE 9pVE= KBAJ9 7V/p 9FA= ;BJ KBAJ9 K6=L{
K6Ee
/H7= ;BJ KBAJ9 K6=L{ 9K>EJ K>K!/ /Sq
/JBJ= K65qJK=/ 7e]JE K6=LK{/ B V9O
K6=L{J= VV?p ;BJ KBAJ9 K6=L{
39J /JBJ= K6 * B V/
{;/J7J U J6 9pKy U9JV,q= A > U= ,q 9 KBAJ97 pJ?
:JJ= 4K>> 4vbJV9' 39J 6p U J6 AlK 7K=4?q6 K=V/
7JK=V96 9G U9JV,q= U J6 A4Ap 9J U J6 ;q /qJ 9J ;q%J=L=
'9J69f4L "B. K=V/ 7JK=V96O
O < ,< <) 2Z=. -=,3X $5=,1 =)7Pe Aoo

A= J= A= J=L
U"V'V* 7J76 J=J %J 9J"J6 ?rK; :K9@p /BK9V>= '6p '6 :K9@p /BK9>
K6Ee K6<My K=V9O
y K6Ee y /BK9V>= 75J6 K69qJBL ;q /qJ B V96O
*rJK U9JV,q= AJ5J=. /iJ95J6
K6EeV. y K6Ee /JBJ=
4JKE/i 7J>6 K=V96 9G K/K6 y U9JV,q= AK%V9= 4JKE/i 7J>6
195
98
196
U9J,q y=R7 K6=L{J JV> BJ= A > KBAJV9= 9 9G AGK?

4K>> 4vbJV9' ;BJ KBAJ9 K6=L{ 9J K6=L{J=/ ;q /qJ= K6 *
BJK'= K=V9 9G /JBJ= />9 6M<JEL /3p A=9=JB 9J 9pJ!pJ
74J6 K=V9O
;BJ KBAJ9 K6=L{ /JBJ= K6=L{J K=V7J*q U9JV,q= K6 * U7?
K=V96 9G BJ= K* K7 A= JV== K6 * U7=. K=V96O
K6=L{J K=V7JV*q K>K!/ U J6 ^K* 9J K6E; K9>Vl2 AGV?J56
K=9J= '6p U9J,q 9p9v]J "B. K=V9O
A= J= UV/ 7JK=V9O
5J=JE U9J,q 9K>V/ , ?rK; 9p9v]J76J U9J,q 9J %J 9J"J6
?rK; :K9@p /BK9> *rJK U9J,qU 9M(J V9O
$
%
&
'
9v 7J* ;e.J>VE= AK%9 74JK5 J= 9V>

U6Y 7K=9B6 ;e.J>VE= AK%9 74JK5 J= 9V>
U<J"JV<J" ;e.J>VE= AK%9 74JK5 J= 9V>
K? 7K/J6A;PVB= 7K/K6K5/i J=L AJ/'6 A4Ap <JBJ=J A= J=
/qS ;JK> "V.= 9pJ7 7rK/K6K5/i J=L 7K/J6A;PVB= AKB/
JV>J%6JzV; K6<My B V96
( ?rK; "V.= 7K/K6K5/i J=L AJ/'6 A4Ap <JBJ=J A= J= /qS
?rK; "V.= 9pJ7 7K/K6K5/i J=L U*r,
K6E6A;PVB= AKB/
JV>J%6JzV; K6<My B V96 H
/V9 ?/q 3JV U< ?rK;
;JK> :E 7V{= 7K/K6K5V4= ;V5p
eb/ '6 V= ;KB>J 7K/K6K5 eb:Mqy 3JK V96O
) 75J6 7K=4?q 74JK5 J=9V> K<K6 BJ= AK%9 B V96O
;V6J6L/ A4Ap". K/6 9FA= U;EJV4 /JBJV4= 7V4 K5K/
3JK V96O
J K> BJ= K6'v2 J<qK9K5 6MA=. K=V9O
J K>
K? 7K/J6A;PVB K6=J7J K6K/ =J= '6p 9G BJV/ v2Jv]p
Alo/ 9J 7K=vZJ= 7K=_&6g 7K=V9?
9v]J 9'JE =J!J= '6p 'J/LE
6LK/;J>J 7.E6 K=V9
! BJ= 6LK/;J>J 9Jvb9JEV6= '6p K4 K6V4q?6J 7v\/ K=V9O
7V/p 7K/J6 J K> /qS 7v\/ T/ K4 K6V4q?6J 6MA=V.
/F /qS 7.L/ 6LK/;J>J 9Jvb9JEV6= '6p <3J<3 74V{7 "B.
K=V9O
O =0G*< Y $X<='Aoo
5J=J
K>K!/ U J6 U9J,q BJ=
7V/p
3q 9FA= U?@ B 9J= 7= </?L# Alj9 ;BJ KBAJ9 K6=L{
/qS
K6=LK{/ BJ= JE 9pVE= KBAJ9 9G /FAB y 9FAV= BJ= ;q JV= K*
9JK@q K99=.L 9G BJ= 7=9/qL 9FAV== 7vbJK9/ ;qAP%L A= JV== K6 *
A=9=JB K=V9O
A= J= U9JV,q= K6 * B V/ K6;gK>K!/ /3p 9J 4K>> 4vbJV9' />9
K=V/ 7JK=V9 9G U9J,q BJ A=9=JB K=V/ 9J5p 3JK V9 <3JH
U J6 K=V7J*q K99=.L J6M;JK6 KBAJ9 7K=AG!pJ6 39J U9JV,q=
K6Ee.J5L6 U J6 K9@VE 6p U J6 /3p
! y=R7 U J6 K9@VE U J6 K=V7J*q
" U9JV,q= UB8J'V/ JV& =R7 U J6 4K>> 4vbJV9V'= K7O
A <$>7 =2y \%<\LX
=)0<*k< < =w1Aoo
A= J= A= J=L
U"V'V* 7J76 J=J 'J/LE K? v2Jv]p K6=J7J J K> 6JV; K* J K>
"+6 K=V/ 7JK=V9O
K6;g=R7 A4Ap A;e2VE y J K> "K+/ B V9 <3JH
?r;
;qAGv]J6 ;e.J>VE= 4JKEV/i K6VEJK'/ ;eL 74JK5 J=9V>
K<K6 BJ= U%EJ=;pJ6 B V96
! ?r;
;qAGv]J6 ;e.J>VE= AK%9 74JK5 J= 9V>
" K? ;e.J>VE= AK%9 74JK5 J= 9V>
# v2Jv]p ;e.J>VE= AK%9 74JK5 J= 9V>
197
99
198
=,92 (X<7
BJ= F7J46 7KzEJ %J>M =JV! UA 7K/JV6 7M6=JE F7J46

7KzEJ =^ K=9J= 6Mp6 K? K46 7PV9q /FAlV q BJ= ;JK>
7 5J=J
K>K!/ /3p 9J K9@E AK6gV9? K=EJ
K*
K>K!/ U6JK*? 75J6 7K=4?qV = K6 * U7=. K=V96O
U J6 U{V 6P/6 9p9v]J7 K6<My B V> /JBJ= JV' U<J"4JV6=
/JK=! B V/ AJ/ K4V6= ;V5p ;JK> y 7K=9/q6 Al2V 75J6
7K=4?qV = K6 * K* K>K!/ U6JK*? U7=. K=V96O
U J6 A;E U J6 7K/JV6 U J6 9p9v]J7 K6<My 6J 3JK V> 9J
K6<My 9p9v]J7 U J6 J' 6J K=V> 9p9v]J7 KBAJV9 ;q=/ U ;JK>
J V6= VV?p y 7K/JV6= 9p9v]J7 9K>EJ ".p B V96O
=,=,(
O ,X<5=$0 `.$<Aoo
A= J= A= J=L U"V'V* 7J76 J=J
BJV/ K>K!/ ?/q 9J K9K5 K6V@5 AJV7V{ U J6 ;JK> 9J ;JK> U?r.LV
39J U J6 7K/J6 9J 7K/J6 U?r.LV 9J BJ= U J6 G? K9V?@V 39J U J6
?rK; 9J ?rK; U?r.LV
J V6= K/LE 7; @ A; ; 69; 39J
J4? 5pJE 39J BJ= U J6 5J=J 39J K9G? 5pJVE= 5J=J
9J
= A > 9J UJ B V/ 9pJBK/
K4V/ 7JK=V9O
7 5J=J
= 5L6 U J6 9pJBK/ JV4? '6 9J 'J/LE v2JV3q
=J B V9 9G y JV4?
AGV" &E ;JVA= K5 U;EJV4=
'6p 9>9F 3JK V9 6JO
75J6 7K=4?q A= J=L U"V'V* 7rJ76 J=J U J6 7K/J6 9J
7K/J6 U?r.L AlV q
J V6= 5J=J
9J
= A > 9J UJ 9J 74?q6L 7>V{ AJ;KE :JV9 v]K"/ =JK!V/ 7JK=V96 9G
BJ 7J7V6 K>K!/ U;EJV4= '6p 9G ?/q AJV7V{ 9>9F
3JK V9O
O ) 2< )?G.<') ,9 1< G4w F0= =~Z 0G#0 =+4Aoo A= J=

U J6 J=!J6J 9J U J6 U?r.L= J=!J6J K6;qJ. 7K/J 9J
Al7AJ=V.= '6p K9K5 J=J K65qJK=/ 7K/V/ 75J6 7K=4?qV =
K6 * B V/ K>K!/ 7P9q 6M;K/ "BV.= '6p K6V4q? K4V/ 7JK=V9
! U J6 J=!J6J 9J U J6 U?r.L= J=!J6JV K9K5 J=J K65qJK=/
7K/V/ 9G K8A 74JV6 BJ U=K'Kr =. 9J BJ= '6p >J VA
"B. 69JEV6= '6p K6V4q? K4V/ 7JK=V9O
<K4 7 5J=J
U;J/JV9 6M;K/= '6p 6 ?JAB U J6 4=!Jvb
75J6 7K=4?qV = K6 * U7=. =J= 7= /F /qS BJ 7JK= 4M
;JVA= ;V5p U J6 JV4? 4=!Jvb J=LV 74J6 =J 6J BE /JBJ
B V> 7J3qL/ 6M;K/ 74J6 =J B EJV& 9K>EJ ".p B V9O
U< U{V 75J6 7K=4?q U J6 J=!J6J K6;qJ. 9J Al7AJ=V.= '6p
39J BJ U=K'Kr =. 9J BJ= '6p >J VA 74JV6= 6M;K/
74J6 K=V/ v2L J= V=6 UA U{V 4=!Jvb J=L y v2L TK/=
@J* K4V6= ;V5p BJ= K9=^V A= JV== K6 * J7L> K=V/
7JK=V96O
,X< X< :oo U J6 J=!J6JE U 9> ;J U J6 <e7JK/ 9J > J
7K=9/q6 9J 7K/v]J76 39J K9K5 J=J K65qJK=/ AL;J= ;V5p U J6
6P/6 <e7JK/ 9J > J AGV<J'6
5J=J= 5L6 J=!J6J
Al7AJ=. 9K>EJ ".p B V9 6JO
O < z0M =0,<0 *BG,Y *r(<) *=0'2Y G F)<= 2 *r'<)Aoo

U J6
;JK> /JBJ= 7K/JV6 J' 9J 9p9AJ 9JK.'p =^ K=9J= 6Mp6 76= K46 7PV9q
75J6 7K=4?qV = K6 * /FAlV q K* U6JK*? U7=. K=V96 9G y U6JK*V?
K6;gK>K!/ /3p 9J K9@E AK6gV9K?/ 3JK V9 <3J H
7K/JV6= 6J;
9v]J6
! ;JK>V = 6J; K+ J6J
" 7K/J6 AlV q K%K+7 U7=V.= K+ J6J
# 7K/JV6 7K=%JK>/9p J' 9J 9p9AJ 9JK.V'p= 7 TK/
$ 9p9/ ?Ky= 7 TK/ 7K=;J.
% 7K/JV6= 9p9v]J7V = 6J;
& 7K/JV6= AljJ9p ?rK;V = AG!pJ
' K9K5 J=J K65qJK=/ 6p U J6 /3pO
U< 7K/J6 AJ5J=./H 9FAV= ?/ JK? ;qK49VA= ; U;EJV4
199
O *=0'2YG 0 =$*7 <G'G20 =,0MGs <*>1Aoo

100
200
U< U{V
J V6= 5L6 U J6 7K=4?qV = U J6 K>K!/ JV4? U J6 ;JK>V = 7= 'J=L

=J BE UA U{V y ;JK> JV4? 7JK= K? K4V6= ;V5p BJ= K9=^V J7L>
/qS7V{= K6 * J7L> K=V/ 7JK=V96 9G y J7L> /qS7{ /4 VV?p
7.L/ K9K5 AJV7V{ y JV4? 9BJ> =JK!V/ 39J 7K=9/q6 9J 9JK/> K=V/
7JK=V9O
/4 VV?p 7.L/ K9K5 9G J7L> /qS7{ /qS JV=JK7/ ?/q
9J K6V4qK?/ ;qAlJ46 AJV7V{ y J7L> /qS7{ 7<My
K9V9%6J K=V> J7L> K6uK 6J B EJ 7<qeb U< JV4V?= K9=RV
J7L> =J B EJV& BJ v]K"/ =JK!V/ 7JK=V9O
A= J=
5J=J= VV?p K9K5 7.E6 K=V/ 7JK=V9O
5J=JE
J7L> /qS7{ 9K>V/ A= J=V 9J /F /qS
/4 VV?p K6<My 6p U J6 /qS7{V 9M(J V9O
U< U{V U J6 K6uK 9J %NKy= 5L6 39J U J6 ;5pv]/J J=L 9J

?r; J4J>/ 9J *rJ 9Mp6JV>= U J6 KAJeb 9J U=JVE4JV4= 5L6
U J6 ?rK; U J6 ;JK>V = K6 * B V/ ;6 U J6 AMK95J 7J V/
K5 J=L <JBJ *J JE KBAJ9 =J <JE UA U{V K9K5 AJV7V{ y
AMK95J *J JE KBAJ9 K=EJ 7 5J=J
= K95J6 6M<JEL J4JE
=J <J V9O
5J=J= 5L6 3q J4JVE= '6p U J6 4=!Jvb "B. =J B V9 6J
<K4 6J BJ 3q 7V4E B 9J= /JK=! B V/
9FAV== ;V5p U7?
=J BE H
/V9 ?/q 3JV U< y A;VE= 7V= U J6 4=!Jvb "B. =J
<J V9 <K4 ?r; J4J>/
;V;q Ae\ BE U< 4=!Jvb J=L= y
A;VE= ;V5p 4=!Jvb U7? K=V/ 6J 7J=J= 7<qJ J=. K&> H
JV=J ?/q 3JV U< ?rK;V = 7J 6J AMV>= K9@EK* AV9qJ_%
"JK5 J= 7J V9 O
O F.I4?.> <0 <)<Aoo A= J= A= J=L U"V'V* 7J76 J=J U J6

9FAV= AJ5J=./H
?/ JK? ;q K49VA= K5 U J6 F7J46 7KzEJ %J>M
3JV 6J 9G U 9> ;J U J6 K9V?@ U;YAM; &JCJ 6p U J6 A;E 39J 7J TK/
?Ky= K6EK;/ KzEJ= 7= K6:q= =J &JCJ %J>M =J!J <JE 6J =R7 U J6
J=!J6JV
J V6= VV?p U;YAM;L J=!J6J 9K>EJ U#J@.J K=V/ 7JK=V9O
O 4?G/< 4?=,(< *r'<G)0 )X F <) &Y <'<7 0< /< G, )<Aoo

J V6= 5L6 ;JK> /qS A=9=JB 9J 9p9v]J K=V/ B V9 =R7 U J6 AMV<J"
AMK95J 9J A=J; 9J <e7JK/ A=9=JVB= '6p 9J 9p9v]J =J= '6p K/K6 U J6
?rK;V = K6 * B V/ U Kf*V6 A=9=JB T/ !JV4p= ;P>p 9p/L/ U J6 K8A 9J 3q
J4JE K=V/ 7JK=V96 6JO
O
< G)0 (>) <'<7G/< X &Y <'<7Aoo
J 6 AJV7V{
?r; J4J>/ 9J *rJ 9Mp6J> /Tq
J V6= U J6 5J=J= 5L6 74JV6= '6p
K6V4qK?/ U J6 3q 39J
J V6= U J6 K95JV6= 5L6 U J6 9pKy /qS
7rV4E U J6 3q 39J U J6 K6uK 9J %NKy= 5L6 9J U J6 ;5pv]/J J=L 9J ?r;
J4J>V/= 9J *rJ 9Mp6JV>= U=JVE4J4 9J KAJVeb= 5L6 U J6 9pKy 9J ;JK> /qS
7V4E U J6 3q BJ 7J EJ= K5 J=L U J6 9pKy= 4=!JVvb= K:KV/ 9G /JBJ=
_&J6M<JEL ?r; J4J>/ /qS 9J BJ= K6V4qV? K6;g=R7 U K9K5 J=J K65qJK=/
7e]JE y 9pKy= v]J9= AlK UzJ K=EJ 9G K9zE K=EJ
39J
# U J6 U4 EJ6L J4J>V/= 3q AGzJeb K,zL KBAJV9O
201
O 2Z=.
G#0 '<=7$SAoo U J6 7K/JV6 U J6 ?rK;

BJV/ ?rK; "V.= v2Jv]p K6=J7J
>pJ. K6K/ =J= '6p
"SBL/ U J6 9p9v]J= 9J v]JK7/ U J6 <e7JK/= _&J T/:JV9
79p9BJ= 9J BJ= 9p9BJV= BvbV{7 K=V96 6J
! _&J T/:JV9 9J <MKy AG"/ J=. 9pK/V=V
;6 U J6 K &M
K=V96 6J <JBJV/ /JBJ= 9J 6p U J6 9pKy= K974 B V/ 7JV=
" BJV/ ?rK; "V.= v2Jv]p K6=J7J K6K/ =J= '6p v]JK7/ U J6
<e7JK/ 9J 9p9v]J _&J T/:JV9 9p9BJV= "JK8>K/ K=V96 6JO
O .=51<G'0 *r=$ < 0#Aoo U J6 7K/JV6= U J6 JV' U J6 ;KB>J

K6<My 3JK V> K/K6 U< 74;<qJ4J= UBJ6 6J U 6 /J= 7K/ y 7K/JV6= 6p
U B ;6 U J6 J%=. K=V/ 7JK=V96 6J <JBJ ?L> K G9J :4r'V6JK%/
9K>EJ ".p B V/ 7JV= K G9J <JBJ y ;KB>J= ?J>L6/J AlkV;= 7K=7e]LO
101
202
O F)<= 2 <0> =,,0#> F*2Aoo A= J= K9K5 7.E6 K=EJ

J V6= 5L6 U J6 JV4? 'J=L= 7K/ K65qJ=. K=V/
7JK=V9 9G
! U J6 ;JK> V
J V6= VV?p K6EK;/ 9J A;VE A;VE
BJV/ K>K!/ K99=.L 4JK!V>= '6p K6V4q? K4V/ 7JK=V9O
O =$*7 ,X=^
BJ U< 6JV; K:KB/ B
7K=%J> 75J6 7K=4?q
*rJ 9Mp6JV>= U%EJ=;pJ6 9J U
U8Y'4J=L 4K9K5= 5J=J
6p U J6 U6JK*? 9J U7JJ= >* J EJ U4 EJ= '6p K6V4q? K4V/

7JK=V96O
O =$*7 =,G23 ,\L<7 ,<6> 0 ,< <=c)<0 .<=1G 0 '<=7$SAoo U<
U{V U J6 JGK"6J= K9K:6g 9JCL K9K:6g ;JK>V = v2/e 7K/JV6= 9p9BJV== '6p
:JCJ U4 EJ BE UA U{V JK6J= ;JK> =JvbJ 64q;J 7JK6 A=9=JB JV>J
v2Jv]p 9p9v]J= ;/ AJ5J=. UA9J AMV<J" AMK95J= 9p9v]J 9J ={V.= '6p 4JEL
3JK V96O
U< U{V U J6 JK6J= v2/e 9G v2EGAlP.q 8tpJ* 9J 9JCL K9K:6g
;JK>V = v2/e 7K/JV6= 9p9BJV== '6p :JCJ U4 EJ BE UA
U{V JK6J= ;JK> K6;gK>K!/ K9@VE
J 6 9J K9K5= K95J6
:G" 9J >G#V6= '6p ;6:JV9 4JEL B V96 U<6 K/K6 y
7K/J6A;PVB= ;JK> <3JH
7JE!J6J U7?J9!J6J 9G U5Y/ =. AMK95JA;PVB 7JK6= K:6g
A=9=JVB= 9p9v]J =J
! JK6J= ;JK>V = ;6 > J 9J <e7JK/ U9CJ U4 EJ <JBJ U J6
:JCJV*= 9p9BJV== '6p K9V?@:JV9 /JBJ= K6 * BvbJeb= =J BE
6J
" 7V== />J 9G 8tJ*}K>= '6p K6=J74 <J/JEJ/ 9p9v]J 9G KAIKC
K:6g 7V3= 7K=uZJ= 7K=_&6g/J
# K"g JV= U{V AJ95J6/J;P> 9p9v]J
$ BVE 9G VJ>6 <Ve= 9p9v]J ={. 9G
% JK6J= 6p U J6 K:6g AMK95J ={.O
U< U{V U J6 JK6J= K:6g 7JE!J6J U7?J9!J6J U5Y/ =.
AMK95J<My v2/e { K9K:6g ;JK>V = v2/e 7K/J6 KBAJV9
9p9BJV== '6p :JCJ U4 EJ BE UA U{V 7 5J=J
= K95J6
7V<J'p B V9O
U< U{V U J6 JK6J= U J6 { 9J U?V,= K9K:6g G? K9K:6g
;JK>V = v2/e 7K/J6 KBAJV9 9p9BJV== '6p :JCJ U4 EJ BE UA
U{V JK6J= ;JK> 7; 5pJVE= 5J=J
9G
9p/L/
9G @ 5pJVE= 5J=J
9G
9p/L/ 9G
5J=J
= U J6 K95J6 : 9J >G#V6= '6p 4JEL 3JK V96 H
/V9 ?/q 3JV U< 5J=J
9G
= K95J6 AlV q
U 9>;J /JBJ= K6Ee.J5L6 U J6 K9@VE= AKB/ AGK? K95JV6=
)G4, 5 G,)Aoo
J V6= 5L6 U J6 U9JV,q=
6J U 6 U%EJ=;pJ6 9J U J6 A4Ap 9J ;q /qJ ?r;
:K9@p /BK9> K6Ee ?r; J4J>V/= U%EJ=;pJ6
J6 A4Ap 9G K9G? 5pJVE= 5L6 K6<My U J6 9pKy
= V3q '6VA9 9K>EJ ".p B V96O
O 401 =,2W<G4 E$ < .Y 0`#Aoo

J 6 K9K5 7K95J6 9J
vZLV;= 5L6 A=> K9?nJVA AlJK4/ 9J AlJ4V6= '6p K: U J6 JV'= '6p
U J6 9pKy 9J /qS7V{= K9=^V U J6 U4 EJ6L 9J U8Y'4J=L ;J;>J =^'M 9J 6p
U J6 J 6"/ J<qz; "B. =J <J V9 6JO
O =$*7 F`Gm < @0>0 ,$Y.<) 2$Y<,1> 490`#Aoo
J 6 39J
U J6 K9K5 7K95J6 9J vZLV;= U J6 K &M
J 6 79/q6 B EJ= A;E BJ= J=J
=KB/ U J6 J V6= 5L6 39J U J6 U=JVE4J4 %NKy K6uK 9J 7%K>/ 73J=
5L6 U J6 ?rK;V = U:J" T/ K5 J= 9J AMV<J" AMK95J K/K6 </K46 y
79/qV6= /JK=V! U< ;JK>V = 5L6 ;q=/ K&V>6 UA ;JK>V = 5L6 %J N=L=/
3JK V96 //K46 7<qeb 9pJB/ 9J {K/"v] K=V9 6J <K4 /JBJ= y K5 J= 9G
AMV<J" AMK95J
J 6 K9K5 7K95J6 9J vZLV;= 5L6 74 K5 J= AMV<J"
AMK95J B V/ K5 /= 6M P> BEO
O < ) =,=( ,9 *r=,(<G)0 4<049G`* *r'2Y)Aoo
7V/p
7K/JV6= ;JK> BJ= 9J BJ= U J6 ;qv]V>= 75J6 7V9? 7V3 39J BJ=
K6 V* U J6 7 J?p 'JE"JE 9J <J/JEJ/";p v]JV6
J 6 9G K9K5
7K95JV6= '=^=L 9J }=^/i7P.q K95J6A;PVB= AJ= AGV{7 Al2K>/
K* U6JK*?
>* J EJ K4V96O
7 5J=J
= 5L6 74K?q/ A > U6JK*? 7K=uZJ= 9J AMN:JV9
7K+/9p 9v]JE =JK!V/ B V9O
75J6 7K=4?q ;JK>V = 7= 'J=L T/ K>K!/ JV4? J=J /JBJ=
7K/JV6 K6VEJK'/ ?rK; "V.= v2Jv]p K6=J7J 9J >pJ. AlV q
203
102
204
U{V /JBJ= 4JKE/i 3JK V9 H

J= ?/q 3JV U< JK6J= ;JK> /qS A=9=JB T/ 39J /JBJ=
;JK> J6J5L6 U J6 <e7JK/
> J AlV q @ 5pJVE=
K95J6}K> ;JK6EJ %>J= '6p K/K6 4JEL 3JK V96O
75J6 7K=4?qV = A= JV== K6Ee. AJV7V{
5J=J= K95J6
7J>6 AlV q JK6J= ;JK> V 7VEJ'6LE U J6 JV4? U4 EJ=
{;/J 3JK V9O
7 5J=J
9G
AlV q
J V6= VV?p K6<My
?rK;V = AG!pJ ".6J= U{V A;vb JK6JV
K* ;J 7K/J6
KBAJV9 ".p =J B V9O
KAJeb U=JVE4J4 39J =JVE U J6 ;q /qJ /qS7{ AJK>A ;5pv]/J J=L ?r;
J4J>/ 9J *rJ 9Mp6J> /qS U J6 U*r, K6E6 AlV q 39J U J6 9p9AJ 9JK.'p
AlV q /4eb 9J 6MAJ6 JV> 7J ;6 U J6 /3p K>K79 =J <J V9 6J <JBJ
/JBJV4= AloMV! U7? T/ AJ{p 9p/L/ 7J EJ <JE 6J <K4 AGK? U*r, K6E6
9J 7K/J6 K>K!/:JV9 y /3p U"J76LE 9K>EJ K9V9%6J =J= '6p 6MV=J5 V=
39J y=R7 U J6 J<q5J=JE y=R7 U J6 /3p AGK? U*r, K6EV6= 39J
7K/JV6= K>K!/ AloK/ 9pK/V=V 7 J? =J <J V9 6J H
/V9 ?/q 3JV U<
5J=J= U J6 K &M U8Y'4J=L 4K9K5= 5J=J
= 5L6 U J6 U8Y'4J=L J<q5J=J= VV?p y=R7 /3p 7 JV?= U{V 7V<J'p
B V9 6JO
O $&X 49 rG50 `.$<Aoo

J 6 39J U J6 K9K5 7K95J6 9J vZLV;=
5L6 4JKE/i 7J>6=/ U J6 U9J,q 39J U J6 ;q /qJ 9J /qS7{ BJ= 4JKE/i
7J>V6= VV?p 7VEJ'6 B V> U J6 ;JK> V /F /qS K65qJK=/ U J6 U= ,q
4K>> 4vbJV9' 9J /3p A=9=JVB= '6p 39J 6p U J6 J' AlJ4V6= '6p
K6V4q? K4V/ 7JK=V9 9G y ;JK> V y=R7 K6V4q? 7J>6 K=V/ B V9O
O F,<G!Y0 </Y(<0< 0`#Aoo

J V6= 5L6 "K+/ U J6 U9JV,q= BJ
U< 6JV; K:KB/ B 6J U 6 U J6 74 ?P.p =KBEJV& 39J BJ= "+V6 U J6
^K* =KBEJV& 39J BJ= U J6 A4VAp= K6<MKy 9J U<J"p/J AlV q U J6 ^K*
=KBEJV& U 9>;J
J=V. BJ= U J6 J<q 9J J<q5J=J X95 B V9 6J 9J
/FAlV q U J6 7?g =J <J V9 6JO
O =)G7< 4UG Y )?.<)Aoo U J6 9pKyV U J6 J=!J6JE BJ= J'

%>J JV> JBJ= 9J K9?rJV;= '6p K9=K/= A;E 9p/L/ 6p U J6 A;VE 39J
BJ= U J6 <e7JK/ %J>M 3J J JV> 7J EJ <JE /JBJ B V> K:6g=R7 7;J.L/ 6J
B EJ 7<qeb K/K6 y A;VE J=!J6JE K6<My K&V>6 9K>EJ ".p B V96O
O F,<G!Y0 F.7<' `.$< </Y(<0< $X<=' 4UG Y 4<(<0# =,(<)Aoo

J V6 K:6g=R7 K &M 6J 3JK V>
J V6= 5L6 v]JK7/ 9J "K+/ U J6
U9JV,q= BJ U< 6JV;
K:KB/ B
6J U 6 U%EJ=;pJ6 39J 6pJ6p
A4Ap"V.= J<q J> /JBJV4= ?P.p74 7P=. BJ= 9G BJ= K;K*A;PVB=
J<q5J=J
J' ;q 7K=%J>6J 9G A:JE 7Kv]K/= '6p /JBJK4"V 7V4E :J/J
K9K5 J=J K65qJK=/ B V9O
J V6 K:6g=R7 K &M 6J 3JK V> y=R7 U J6 U9J,q BJ= J<q
AlJ4V6= VV?p
U J6 ;JK> V /F /Tq K>K!/ U J6 U= ,q 4K>> 4vbJV9' 9J
/3p A=9=JB 39J 6p U J6 J' K=9J= '6p K6V4q? K4V/
7JK=V9
! U> 4vbJV9'
7K=4?q6 K=V/ 7JK=V9
# y 7K/JV6= 9p9v]J76J AlK q/ U J6 9pKy= 9y9p K>K79
K=V/ 7JK=V9
$ U J6 U4 EJ6L J4J>V/= ;/
O =$*7 $&X *r <G2 ,<(< =)G3(Aoo

J 6 39J U J6 K9K5
7K95J6 9J vZLV;= 5L6 U J6 4JKE/i 7J>6 JV> U J6 F7J46 9J 9p9AJ 9JK.'p
AlK q/ U"J76LE /3p AlV q U J6 9pKy= > J6 9J 7J /3p
J 6
7VEJ" AlV q 9p/L/ 6p U J6 U{V /JBJ= %J N=L J>L6 A;VE 39J %J N=L
/pJV"= 7= 7 J? K=V/ 7JK=V96 6JO
y U"J76LE /V3p= ;JK>V = K>K!/ 7P9q 6M;K/zV; 39J
J V6= 5L6 ;5pv]/JAB 6p U J6 J 6"/ J<qzV;= VV?p
39J /FAGzJeb U J6 U8Y'4J=L J<qzV;= 7VEJ'V6 39J
y=R7 J<qz; AlV q U J6 K=V7J*q 74JV6= '6p y=R7
U"J76LE /3p 7 JV?= U{V 7 5J=J
= K &M 7V<J'p B V9
6JO
O =$*7 =,3G7 F <*)>7$< 0`<Aoo
205
J V6= 5L6 U J6 K=V7J*q

103
206
U J6 9pKyV BJK'= B V/ 9G ?73J5L6 '9J69f4L K4V/

9J5p K=V/ 7JK=V9
U J6 4K>> 4vbJV9' 9G U J6 9v\ U7? K=V/ 9J5p K=V/
7JK=V9 9G
AJ{p "BV.= '6p K;?6 U7=. K=V/ 7JK=V9O
U9JV,q= y=R7 {;/J BJ= U%EJ=;pJ6 39J /4 VV?p
{;/J 7J BJ= U J6 A4Ap 9J ;q /qJ 7VEJ" K=V/
7JK=V96O
7K/JV6= 4JKE/i 7J>V6 9pKE/ A;E 9K>EJ ".p B V9O

5J=JE 7<My /qS7{ 9K>V/ A= J= 39J
5J=J= 5L6
7K?{. U JVAq= 9p9v]J 7K=%J>6J= '6p A= J= /qS v]JK7/ 9J
A= JV== K6 * B V/ {;/J7J U J6 7K/J6 9J /qS7{V
9M(J V9O
5J=JE <JBJ K &M 3J N 6J U 6 U J6 U<Y3 4= @J K@
7K/K6K5 9J U*r,
K6E6 U8,JV=?6 ?r; 7K=%J>V =
6MV;J46zV;
6K5 AJ/ K4V6= U;EJV4 U*r,
K6EV6=
;q /qJ"V.= '6p
J V6= 7= 7K?{. U JVAq= 9p9v]J K=V/
7JK=V9 9G ;JK>V = 6M;K/zV; y=R7 U JVAq G?"B. J=L
U J6 9pKy= U{V 7 5J=J
= K95J6 7V<J'p B V9O
O 4. <G 0 )X 4. . ?0> *r'<)Aoo U J6 ?rK;V = '6p U J6 ;'M=L

K65qJ=. 9J K6;g/; ;'M=L= BJ= Kv]=L =V.= U{V
7 TK/= 9J
;J6 9J
;PV>p= JV'= '6p ;KB>J 9G 7M=^@ ?rK; "V.= '6p A;J6 ;'M=L= 6LK/ 6MA=.
K=V/ B V9 9G /4AGzJeb U J6 K9@VE 6J=L 7M=^@ U:V4= J=V. U J6 W9@;p
=J <J V9 6JO
O F Z! =)7G)0 =$*7 .Y <j =)=3sAoo U J6 U*r, K6E6 BJ=

"+6/Ve >{p 9J V?p KBAJV9 9K.q/ BE 6J =R7 U J6 ;q JV 'KC/ 3JK V/
7JK=V9 6JO
O 4<(<0# F`Gm F < Y =+4Aoo

J V6= K95J6 AJV7V{ A= J=
K9K5J=J
J V6= 5L6 U J6 4=!Jvb J<q5J=J 9J J7LV>= '6p U J6 U J*q
K8A 39J 6p U J6 K8A K65qJ=. K=V/ 7JK=V9O
O )X <'<1G$0 =$7<G00 *0 ,<(< =)G3(Aoo

J V6= 5L6
?r; J4J>/ 9J *rJ 9Mp6J> /qS "B.V<J"p 9J K9%J=U<J"p U J6 U;J ;J
K:V<J" 39J 6p U J6 J 6"/ J<q5J=J 6p U J6 J4J>/ "B. K=V/ 9J
K9%J= K=V/ 7JK=V9 6JO
O =$*7 *r2R $X<=' 4U%Gv ,<(< =)G3(Aoo

J V6= 5L6 U J6
9pKyV ;6 U J6 7V?g= = K4V/ 39J 9y9p 74J6 K=V/ 9J5p =J <J V9
6J <JBJ /JBJV 7/p{ 9J 7V=J{:JV9 U J6 7=JV5= AKB/ 'KC/ K=V/ 7JV=O
O =,=( *r#7G)0 `.$<Aoo

J V6= V?p 7P=. V 39J
J V6= 5L6 K9K5 J=J K65qJK=/ B V9 9J =J <J V9 =R7 7V/p 9J UK!/ 5pJEA;PVB= 5L6 K6;g9K.q/ A > 9J UJ 9J/JA AJ>6 <MKyAG"/
/J7;JJ= ;J6 K65qJ=. 9G BJV/ /J7;J7 <e ={.
U J6 7K/JV6 BJ= 9'qp 74J3q 9G 'J> 7AJ=V.= '6p
7VEJ'6LE 9p9v]J K65qJ=. 9G K65qJK=/ /qS7{ /qS BJ=
6MV;J46
TK;:JV9 J4rq/J 9SK K=V/ BE = ; U J6 7K/JV6=
U{V
O
< G)0 *0 *r=2`#Aoo A= J= ?rK; "V.= ;JK> "V.=
U*r, K6EV6= ;q /qJ".V
J V6= 7= 7K?{. 74JV6= >V{p 7K?{.
U JAq 7K=%J>6J= '6p 7VEJ'6LE 74V{7 "B. K=V9O
7<My /Tq7{ /qS
J/ B V> ?rK; "V.= U*r, K6EV6=
U J6 ;q /qJ y=R7 7K?{. U JVAq G?"B. K=V96O
AJ5J=./H 6Mp6 7J? '6 ?rK; K6VEJ" J=L U J6 7K/JV6=
;JK>
39J /F /qS K65qJK=/ 7K/JV6= U J6 ;q /qJ 7<My
/qS7{ /qS
J/ B V> y=R7 7K?{. U JVAq G?"B.
K=V96O
y=R7 7K?{. U JVAq= 9pE A= J= /qS K65qJK=/ 6M7JV/
A= J= 9G ;JK> 9B6 K=V96O
y=R7 7K?{. U JVAq G?"BV.= '6p 9pKE/ A;E AGK?
207
104
208
J4rq/J= ;J6 K65qJ=.

TK;:JV9 9J/JVA= J4rq/J 9SK= 7e]J K6Ee.
9J/JVA= J4rq/J K65qJ=. K>K79 =V.= '6p 7=L{J
9G
# 7<qJ JV>J 9J/JA 9G 9J/JAV +JJ =J!J K6K/
=J= '6p 7e]J K65qJ=.
7V/p 7K/JV6= '6p 7<My 9G 7<qJ JV>J= ;J6
K65qJ=.
U J6 7K/JV6 7J6 =J= 7JK6 AlV q K95J6 ;JK6EJ %>J
K6K/ =.
U J6 7K/JV6= '6p 7JE!J6J U7?J9!J6J= AG!pJ K65qJ=.
U J6 7K/JV6= '6p K7 4J6L= 5=6 AG!pJ K65qJ=. 9G
BJ= v]J76 9G <3J<3 ={.JV9{V.= 9p9v]J =. 9G
U J6 7K/JV6= v2Jv]p ={J Al2V K/K=y 9p9v]J K65qJ=.
! @ 5pJVE= 5L6
U J6 7K/JV6= U J6 K9V?@ <e7JK/ 9J BJ= G? AlV q
K/K=y A/ q/J;P> 9p9v]J= K95J6
U J6 <e7JK/= K976
GV?= K6=J7J;P> 9p9v]J
K65qJ=.
U J6 VJ> <e AlV q 6MA=.LE K/K=y 7VEJ'6LE
9p9v]JK4 K65qJ=.
U J6 > J 9J <e7JK/= 7=L{J 9G /FAlV q K/K=y
K6=J7J;P> 9p9v]J K65qJ=. 9G
U J6 7K/JV6 ;KB>J 7M=^@ 9G K V?J= /qS AV9qJ_% :J=
9B. VJ>6 9J v]J6JebV== {;/J K65qJ=.
" 4?; 5pJVE= 5L6
y 5pJVE= 9Jvb9JEV6= 7VEJ'V6 ={L/9p U= ,q
U=K'J= K99=.L U6JK*? ={. 9G }K>= 8=; K65qJ=.
U J6 7K/JV6 ;q=/ ?rK; ".V 7V4E ;'M=L= BJ= 9.q6J
K=EJ BJ= U J6 7 J?p v]JV6 U6JK*? >* JV6J 9G
?rK; ".V ;'M=L 74JV6= 7VEJ'V6 ;JK>
/qS =K{/
9J*!J=J
'6 ;J7J= <e7JK/ 9G '6 ;J7J= 9p9v]JK4
K6EK;/ 7K=4?qV6= K95J6
J4? 5pJVE= 5L6

;'M=L= BJ= K65qJ=V.= '6p U9J,q /qS 6MA=.LE 7K/
K6;g/; ;'M=L BJV== J=J 7:JK9/ B V/ 7JV=6 =R7 A >
9pKyV /FAlV q ;eb9p 9G 7vbJ9 U7? =J= AMV<J" 4J6
9G
7VEJ'6LE A > 9 ;'M=L Kv7 U=K'J= 9G 6pJ6p
U= ,q7 ={. 9G BJ= 8=; K>K!/9p K9@EJK4 K65qJ=.
9G BJ 7;J.L =. 7K/
$ J4? 5pJVE= 5L6
?r; J4J>V/= BJV/ =K{/ 3q ;S/ ?rK;V = U7J@p"V.=
AMK95J= '6p K9K6VEJV"= 7e]J 9G y=R7 K9K6VEJ" T/ 3q
?r; J4J>/ B V/ 6p ?r; J4J>V/ BvbJebV== 9p9v]J
K65qJ=.
9pKE/ 3q 5J=J
= 5L6 ?rK; "V.= 7 JV==
'6p "K+/ /BK9V> BvbJebV== 7e]J 9G
/BK9V>= "+6
7?JAV6= 9p9v]J
%NKy6J;J U7? =J= 9G BJ U=K'Kr =V.= '6p 8=;
7e]J K65qJ=.
7M6K9qV9%6J AJV7V{ ?r; J4J>/ /qS ;JKA {K/7P=.
74J6 AlP.q 9J JGK? v]K"/ =. 9G
?r; J4J>/ /qS U=K'J= 9G J<q5J=J ={.
% A4? 5pJVE= 5L6
:K9@p /BK9V> ;JK> /Tq /JBJ= 9G ?rK;V = %IJ4J 74JV6=
A;E 7K/ 9G y %IJ4J J4JVE= 7e]J K65qJ=.
:K9@p /BK9> 7K=%J>6J= '6p *rJK U9JV,q= {;/J 4JKE/i
:K9@p /BK9> B V/ 3q +J 9J= ?/qJK4 9G /FAlV q
6MV;J46LE /q6 9JV'EJL 9G BJ= AV9Jq_% 7K=;J.
/>9 =J B V> U J6 ?rK;V = /JBJ= K6V'=
7K=9J=
AlV q /3p A=9=JVB= 8=;
U J6 ?rK;V = ;S/Np B V> /JBJ= 6JV; ';J 3q 74JV6= '6p
U J6 9pKyV ;V6J6E6 9G y=R7 ;V6J6E6 9JK/> 9J
AGV?J56
:K9@p /BK9V>= A4Ap". AlV q U= ,q U=K'J= ={.
!
"
209
105
210
&
9G A4Ap". /qS A=9=JB K=V/ B V9 =R7 K99=.L

U J6 %IJ4J J,q K64?q6 9J %J K/= 8=; 9J 6;M6J 9G BJ=
K9/=. UB8J'/ 7K/v]J76 9G
:K9@p /BK9> B V/ U J6 A4Ap /Tq 'L96 9L;J= '6p
K7K;EJ; 74JV6= 6M;K/= ?/qJK4
J4? 5pJVE= 5L6
K?{J5L6 9pKy= K69qJ%6 9G K?{J5L6/J %NKy= ?/qJK4
K?{J5L6"V.= ?S`!>J >pJ. /iJ95J6 9G K6Ee. AlK q/
7K/
K?{J5L6"V.= 7K?{. AlV q ;JK> /qS ={.LE U= V,q=
8=;
7<qJEzK; 7=L{J 9G AJ8>p'6 :JV9 7K?{. A;J7V6=
7= 74 7/pE67 9G
9p9BJK= 9G /JKi 7=L{J= ;J6 K65qJ=.O
O =,=( *r=,(<) \J>G. 'Gj0 =,(<)Aoo U J6 K9K5 7K95J6 9J vZLV;

BJ= U J6 K95J6 :G" 9J >G#V6= '6p 6K5 K/6;JA 7<qeb J=J4 39J
6K5
BJ'J= *J J 7<qeb 3q4 39J :E 4V= K95J6 =J!J <J V9O
O 0=5$ 0#
=J B > <3J
!
"
#
$
%
&
'
(
F5+< $Aoo
K6;g K>K!/ J 6A;PB /J=J =KB/
The Workmens Compensation Act, 1923 (VIII of

1923);
The Children (Pledging of Labour) Act, 1933 (II of
1933);
The Workmens Protection Act, 1934 (IV of 1935);
The Dock Labourers Act, 1934 (XIX of 1934);
The Payment of Wages Act, 1936 (IV of 1936);
The Employers Liability Act, 1938 (XXIV of 1938);
The Employment of Children Act, 1938 (XXVI of
1938);
The Maternity Benefit Act, 1939 (IV of 1939);
The Mines Maternity Benefit Act, 1941 (XIX of
1941);
211
) The Motor Vehicles (Drivers) Ordinance, 1942 (V of

*
+
,
.
/
3
4
5
6
7
8
9
:
;
1942);
The Maternity Benefit (Tea Estate) Act, 1950 (XX of
1950);
The Employment (Records of Service) Act,
1951(XIX of 1952);
The Bangladesh Plantation Employees Provident
Fund Ordinance, 1959 (XXXI of 1959);
The Coal Mines (Fixation of Rates of Wages)
Ordinance, 1960 (XXXIX of 1960);
The Road Transport Workers Ordinance, 1961
(XXVII of 1961);
The Minimum Wages Ordinance, 1961 (XXXIV of
1961);
The Plantation Labour Ordinance, 1962 (XXIX of
1962);
The Apprenticeship Ordinance, 1962 (LVI of 1962);
The Factories Act, 1965 (IV of 1965);
The Shops and Establishment Act, 1965 (VII of
1965);
The Employment of Labour (Standing Orders) Act,
1965 (VIII of 1965);
The Companies Profits (Workers Participation) Act,
1968 (XII of 1968);
The Industrial Relations Ordinance, 1969 (XXIII of
1969);
The Newspaper Employees (Conditions of Service)
Act. 1974 (XXX of 1974); Ges
The Dock Workers (Regulation of Employment) Act,
1980 (XVII of 1980).
y=R7 =KB/ =. AVi y U J6 =KB/ J V6= 5L6

T/ U J6 J' ;q 39J 7.L/ U J6 K9K5 7K95J6 9J vZL; 39J
'J=L T/ U J6 JV4? K9K 9J 7J76 39J K6VEJ" T/ U J6
212
U%EJ=;pJ6 A4Ap 9J ;q /qJ 39J "K+/ U J6 J4J>/

*rJ 9Mp6J> U9J,q K;K* 9J /BK9> 39J 74 U J6 U6JK*? 39J
U=K'Kr T/ U J6 U*r, K6E6 9J U8,JV=?6 39J K69qJK%/ U J6
U<Y3 4= @J K@ 7K/K6K5 39J 4JVE= T/ U J6 K:V<J" 39J
U7? T/ U J6 4=!Jvb 39J ;M=L T/ U J6 6M;K/ >J VA
"+6/e %J N=L K9K5 9J 9pJBK/ 39J "SBL/ 9J =^ T/ 6p U J6
9p9v]J 9J J<q5J=J
J V6= K95J6J9>L= AKB/ AJ;Ap7P.q
B EJ AJV7V{ =KB/ 9J AGV?JK5/ 6J B EJ 7<qeb 9>9F 3JK V9
9G
J V6= AGK? 5J=J= 5L6 T/ 7.L/ 'J=L T/
K6VEJ" T/ "K+/ 74 U=K'Kr T/ K69qJK%/ 4JVE= T/
U7? T/ ;M=L T/ "SBL/ 39J =^ T/ B EJV& 9K>EJ ".p B V9
!
J 6 79/qV6= /JK=V! U J6 J4J>/ 9J *rJ 9Mp6JV> K9%J=J5L6
U J6 ;J;>J 9J J<q 5J=J y J4J>/ 9J *rJ 9Mp6JV> %J>M 3JK V9
9G /F /qS 6J6L K6uK =J B V9 U<6 y J 6 =KB/ BE
6J O
O
.B1 *< ,9 9G0 >G$ *< Aoo

J V6= ;P> 7J+ 9JG>JV/
B V9 9G GV='LV/ BJ= K* 6PK4/ K6:q=V<J"p 7J+ 3JK V/
7JK=V9H
/V9 ?/q 3JV U< 9JG>J
GV='L 7JV+= ;V5p K9V=JV5= U{V
9JG>J 7J+ 7J5J6p 7J V9O
213
107
214
/8KA>
*r&. $+=41
9SJG}K> 9G BJ= BJC BJ=JV6J
BJV/= %J=K* JG}> BJ=JV6J
BJV/= K/6K* JG}> BJ=JV6J
BJV/= 4M K* JG}> BJ=JV6J
9SJG}K>= BJVC= U?@ G? BJ=JV6J

JK*EJ U8>J= #*6J 6LV%= G"
05J=J
\L<7> <9=2
9G 5J=J
`.$< 4D={ <0> ,=17< #X
4r9p1
G.0 $<=1 <
zK;
6G
'!V;= 9.q6J
:E BJ/ BJ=JV6J 9J 7V== G? B V/ JK*EJ U8>J
BJ/ 9J
7J BJ=JV6J
:E U%JV!= 4SK ?Ky ;6 7K=;JV. BJ=JV6J <JBJ 4SK

?Ky= 7VEJ'6 BE =R7 U J6 J' K=V/ 4J9L4J=V
{; K=EJ U8V>
:E 7J 9J =^ JK*EJ U8>J 39J

7JV?= 7J 9J
=^ JK*EJ U8>J 9G UJ= #*6J 7V== G" UJ
IJV5= 6LV% ;6:JV9 JK*EJ U8>J U<!JV6 J*J= 7=

9K? G? pJVzJK;EV6= ":J" B V/
UAKf*K;*JV== ; 3JV
pJVzJK;EV6= ":JV"=
UAKf*K;*J= B V/
K>Vz6V6= ":JV"=
UAKf*K;*JV== ; 7<qeb
JK*EJ U8>J
BJ/ 39J 9SJG}K> 9G

BJV/= %J=K* JG}>
BJ=JV6J 39J K>Vz6V6= ":JV"=
UAKf*K;*J=
6L% B V/ JK*EJ U8>J
9SJG}K> BJ=JV6J
215
108
:E 7JVE= 7J/J JK*EJ U8>J
:E 7JVE= 7J/J 7K| ;pJ> B V/ 7JVE= U"JCJK> 9G

JG}K>= {N4r BJVC= "Ke] 7<qeb JK*EJ U8>J
:E 7JVE= A > JG}> 7JVE= U"JCJK>= BJVC=

AKB/ JG}V>= {N4r BJVC= "Ke]= AGV<J" 7<qeb
BJ=JV6J
7K| ;pJ> B V/ 7K| ;pJ> f*J=V8>J6K'VE> "Ke]

7<qeb :E 7JVE= A > JG}> BJ=JV6J
K,A*J> B V/ 7K| ;pJ> f*J=V8>J6K'VE> "Ke] 7<qeb

:E 7JVE= A > JG}> BJ=JV6J
U J;V== K6;g:J" B V/ JK*EJ U8>J
U J;V== K6;g:J" B V/ ;6:JV9 JK*EJ U8>J <JBJV/

JK*EJ U8>J= 7= 9K? G? U<6 >l2JE U"*
U*rJ%Jf*JV== ":J" B V/
UAKf*K;*JV== K5
K e\ ;5p =^= 9JKBV= 6J BE
U J;V== K6;g:J" B V/ ;6:JV9 JK*EJ U8>J <JBJV/

JK*EJ U8>J= 7= 9K? G? U<6 >l2JE U"r*
U*rJ%Jf*JV== ":J" B V/
UAKf*K;*JV== K5
6J BE
;5p =^ B V/ BIJ*N= 6LV%

U8>J
UAKf*K;*J= 7<qeb K*EJ

216
BIJ*N= 6LV% ;6:JV9 JK*EJ U8>J <JBJV/ 9K?JG?

UAKf*K;*JV== U9?L K e\
UAKf*K;*JV== K5 6J
BE
BJC 6J BJ=J EJ JG}V>= ":J" JK*EJ U8>J

)<=. < &,< =)| <9b1
AlP.q
4M K* {N4r Kv]
K* BJC
BIJ*N= 6LV% ;6:JV9 JK*EJ U8>J <JBJV/ 9K?JG?

UAKf*K;*JV== K5 BE
7JVE= 7J/J JK*EJ U8>J <JBJV/ BJ J=J 4IJCJV6J

Alj9 6J BE
7K| ;pJ> B V/ 7JVE= U"JCJK>= BJVC= AKB/

JG}V>= {N4r BJVC= "Ke] 7<qeb
7JVE= 7J/J
JK*EJ U8>J
7JVE= 7J/J=
7<qeb
7JVE= U"JCJK>= BJVC= AKB/ JG}V>= {N4r BJVC=

"Ke] 7<qeb
7JVE= A > JG}> BJ=JV6J
{N4r Kv]= K &M G? BJ=JV6JAB
)X<)X
!<) ,< ,<. *<G70 <9b1o ,Ds<9b1
U J6 'K*>/J &JCJ
v2J:JK9
U%J! BJ=JV6J
U J6 'K*>/J 9J U%JV!= ;K6= K9 TK/ &JCJ

U%JV!= 4SK?Ky BJ=JV6J 6p U%J! v2J:JK9
7JVE= 7J/J=
7<qeb
6p U%J!
O
O
O
AlP.q
4M K* {N4r Kv]
O
O
JG}V>=

.(X. <9b1
AlP.q
4M K* {N4r Kv]
K* BJC
JGK?
JMV>= U&J*
*<G70 '? =
*<G70 =$)=
7JVE= 7J/J=
7<qeb
109
Kv]= AGV"
,Ds<9b=1 <6<
217
Kv]= "Ke]
Kv]= "Ke]
JGK?
<9b1
7JVE= 7J/J= Kv]= AGV" JMV>= U&J* Kv]= "Ke]

7<qeb
{N4r Kv]= K &M G? BJ=JV6JAB JGK?
,Ds<9b=1 <6<
K* BJC
JMV>= U&J*

,Ds<9b=1 <6<
!<) ,< ,<. 5<G$0 <9b1 $ Y)> <9b1

O
Kv]= AGV"
)X <9b1
Kv]= AGV"
<9b1
JMV>= U&J*
*<G70 <0=
JGK?
<9b1
7JVE= 7J/J= Kv]= AGV" JMV>= U&J*

7<qeb
{N4r Kv]= K &M G? BJ=JV6JAB JGK?
218
Kv]= "Ke]
Kv]= "Ke]
=t$>7 $+=41
05J=J
O 8AV'6'J/ K9@KzEJ
O U7?J"/ pJJ=
O J VAJKAVE6JK*A 'J/ K9@KzEJ
O K9@KzEJ'J/ 9Sw 74JB
O l6 'K6/ U7?J"/ 9pJK5O
4r9p1
F)<= 2 '<)G/< X ,X<=(0 $<=1 <

O ALAJ 'J/ K9@KzEJ
O ALAJ U*=J 3J >'J/ K9@KzEJ
O 8A8=JA'J/ K9@KzEJ
O 7J=4'J/ K9@KzEJ
O 'J/ K9@KzEJ
O JVAqK6 'J/ K9@KzEJ
O AM=J #K*/ U5IJEJ= K9@KzEJ
O J9q6 9J AJ>8J , 'J/ K9@KzEJ
O U9K6 9J BJ= A4S?p U J6 9v\'J/ K9@KzEJ
O UzJ; 'J/ {/
O pJ63rJ|
O KAK>V JKAA
O UBV>JV'6A 'J/ K9@KzEJ
O | V= 39J U=K,EJ; 9J 6p U J6 U/'Ku[E 74J3q 'K6/ J=V.
W4KB K9 J=
O %J;CJE 7J3K; K7K3>V;*JA pJJ=
O K9@KzEJ 'K6/ =yBL6/J
O K9@Jy 9v\ B V/ djM/ K9@KzEJ 'K6/ 'KA
O !K6' U/> 9G !K6' U/> K;K?r/ U J6 U<YK" 74JV3q= J=V. djM/
W/>Jy 9r. 39J %;q 74JB
O 9J AAJ 6KAA
O pJAV9A*KAA
O =JAJEK6 74J3q 9G =GVE= 7/p{ AGvV?q JAJ= J=V. djM/
U7?J"/ 9J v?q'K6/ %;q 74JB
O _% ? 'K6/ 9K5=/J
O 9pJK=>K>EJ;'J/ K9@KzEJ
O J9q6 ;V6J| J ,
O E>J !K6 ?rK; "V.= K8 V;J K6 KAA
219
110
220
$E$>7 $+=41
05J=J
J9q6 9J AJ>8J , JV& ;6 U

9v\M 9p9BJ= =J 39J 6JCJ %JCJ
39J BJ B V/ K/ U5IJEJ
9JVu= AloMV! 6mMy B V/ BE
U J6 J' =JO
4r9p1
F*2< $ ,X<=(0 $<=1 <

zK;
6G
U7?J"/ 9pJK5
%J N=L
O U*rJV8tJK=K36'J/ K9@KzEJO
U*rJV8tJK=K36 JV& ;6 U J6 9v\

9p9BJ= =J 9J 6JCJ %JCJ =J 39J
BJ JV& =R7 U J6 9Ju 9J U5IJEJ=
AloM!L6 B V/ BE ;6 U J6 J'
=JO
92
O
pJ63rJ| O
U %N> ?y {M4r U>J; 'e\=
;S/V4B 39J 7K=/pJy G? K6EJ
J' K=V/ BE
! pJ63rJ| U=JV" JzJeb U J6 'e\
AGzJeb J' K=V/ BE 39J
" U J6 7.p 4r9p +JV6J 6J;JV6J
39J 7K=9BV6= AGV" AGK? J'
K=V/ BEO
O AG NK%/ 9JEM'K6/ AMv]/J

9G BJ= 7K=.J;O
AG NK%/ 9JEMV/ U J6 7KzEJ %J>JV6J=

J'O
O ALAJ U*rJ K3>'J/ K9@KzEJO
ALAJ U*J K3> 9p9BJ= =J BE ;6

U J6 7KzEJ= U J6 J'O
O 6J *rJA U5IJEJ'J/ K9@KzEJO
6J *rJA U5IJEJ= AloMV! 6mMy B V/ BE

;6 U J6 7KzEJE J'O
O ;pJG"JK6' 'J/ K9@KzEJO
;pJG"JK6' 39J ;pJG"JK6' K;K?r/

U J6 9vbM 39J ;pJG"JK6' JV& ;6
U J6 9vb 9p9BJ= =J 6JCJ %JCJ =J
39J BJ B V/ K/ U5IJEJ 5P>J 9J
9JVu= AloMV! 6mMy B V/ BE ;6
U J6 J' =JO
O J9q6 9J AJ>8J , 'J/ K9@KzEJO
J9q6 9J AJ>8J , 39J J9q6 9J

AJ>8J , K;K?r/ U J6 9vM\ 39J
221
J6
=J
9J
;6
O L*6J? 'J/ K9@KzEJO
L*6J?
@5 &CJV6J= U J6 J'O
92
O U>7V*JAK7=J V*V=J KBV;J
U=K' J'J/ AGz;.O
111
I4M= 5MpK@/ v]JV6 J' =JO
O K,K6V*rJV86> 9J UBJV;>"'J/
K9@KzEJO
K,K6V*rJV86> 9J BJ= A4S? U J6 9v\

9p9BJ= 9J 6JCJ %JCJ =J 39J BJ
B V/ K/ U5IJEJ 9J 9JVu= AloM!L6
B V/ BE =R7 U J6 J' =JO
O *rJ KzKA> 8AV8*'J/ K9@KzEJO
*rJ KzKA> 8AV8* JV& ;6 U J6

9v\ 9p9BJ= 9J 6JCJ %JCJ =J 39J
BJ B V/ K/ U5IJEJ 9J 9JVu=
AloM!L6 B V/ BE =R7 U J6 J'
=JO
O UzJ;'J/ {/ 9J BJ= 7K=.J;O
UzJ; 'J/ KA, UzJV;* 39J

V;JK6EJV;= 9J VzJV;* 7*JK?EJ;
UAJK,EJ; 39J 4vbJ 39J A9 9vbM
J=J W/=L 9v\M 9J K;?r. 9p9BJ= =J 9J
6JCJ %JCJ =J= J'O
O "K>/ IJ% 9J "K>/
"K>/
222
IJ% 9J "K>/ 9J
5J/N
9J 5J/N B V/ K9_&MK=/
JV>J _&*J 9J U%J! (>AJV6J
JV>J B V/ AGz;.O
B V/ K9_&MK=/ JV>J _&*J 9J U%J!

(>AJV6J JV>J= AloMV! #6 #6 9J
4L#q{. 3JK V/ BE ;6 U J6 J'O
O U9K=>K>EJ;'J/ K9@KzEJO
U9K=>K>EJ; 39J U9K=>K>EJ; K;K?r/

U J6 9v\ 39J U9K=>K>EJ; JV&
;6 U J6 9v\ 9p9BJ= =J 6JCJ %JCJ
=J 39J BJ B V/ K/ U5IJEJ
5P>J 9J 9JVu= AloMV! 6mMy B V/
BE ;6 U J6 J' =JO
O 6JV = K(K>= U?uoJE J=KAV6J;J

9J 9J/JVA= AV AJ 6JA 39J
9rJG JA 9J 8NA8NVA= 7J3K;
J=KAV6JV;JO
;6 U J6 J=!J6JE J' U<!JV6

"pJA AG<My K6V V>= AGK;?r. K9">6
K=EJ K6V > 7v\/ =J BE 9G
y=R7 7KzEJ 9J /FAGzJeb 6p
U J6 7KzEJ 7K=%J>6J= '6p U J6
:9V6 J' =J= 7VEJ'6 BEO
O ;P 3K>= U7K7V>J;JO
;6 U J6 :9V6 J' U<!JV6

9JK.K'p
VV?p K6;gK>K!/ K'K6@
7v\/ BE <3JH
J>8J U=73J >J;J 6
U9*J6pJ73J >J;J 6
39J
U96K',J 6
39J BJV4= U J6
>9.
=J;J 6 39J U;V'6*J
! 7pJ=J
K>K!/ U J6
9v\ 9p9BJ= 9J 6JCJ %JCJ =J= J'
39J y=R7 U J6 K'K6@ 9p9/ BE
39J 9JKB= BE =R7 U J6 7KzEJE
J'O
O ALAJ'J/ K9@KzEJ 39J BJ=

7K=.J; ALAJ U*r*rJ K3> 'J/
K9@KzEJ 9p/L/ O
O 8A8=JA 'J/ K9@KzEJ

39J BJ= 7K=.J;O
O 7J=4 'J/ K9@KzEJ 9J
BJ= 7K=.J;O
7J=4 9J BJ= J=J F7JK4/ 9J

AGK;K?r/ U J6 K'K6VA= 9p9BJ= BE
=R7 U J6 7KzEJE J'O
O U96K'6 9G BJ= A4S?

74J3q'J/ K9@KzEJ 39J
BJ= 7K=.J;O
U96K'6 39J BJ= A4S? U J6 9vbM

6JCJ %JCJ 9G U96K'6 39J BJ=
A4S? 9vb 7v\/ BE 9J 9p9BJ= BE
=R7 U J6 7KzEJE J'O
O JVAqK6 'J/ K9@KzEJ

9J BJ= 7K=.J;O
JVAqK6 9J BJ= AGK;?r. F76g BE

&JCJ BE 39J 9p9BJ= BE =R7 U J6
7KzEJE J'O
O | V= U=K,EJ; 9J 6p U J6
U/'Ku[E 74J3q 'K6/ J=V.
W4KB K9 J=O
| V= 39J U=K,EJ; 9J 6p U J6
U/'Ku[E 74JV3q= AloMV! 6mMy B V/
BE =R7 U J6 7KzEJE J'O
O %J;CJE 7J3K;
K7K3>V;*JA pJJ=O
J> J/=J K7% K9*NK;6 !K6'X/>

7pJ=JK86
39J
BJV4= U J6
AGK;?r. 9J F76g 4r9p 39J BJV4=
U J6 9'qp 4rV9p= 9p9BJ= 6JCJ %JCJ
K=V/ BE =R7 U J6 7KzEJE J'O
O KAK> KAAO
KAK> J AGK;K?r/ JV& =R7 U J6

5P>J 9JK>V/ ?nJA U6 EJ= AloM!L6
B V/ BE =R7 U J6 7KzEJ= J'O
O E>J !K6= ?rK; "V.=

K6 K;V JK6EKAAO
ALAJ U*r*rJ K3> 9p/L/ ALAJ 9J BJ=

J=J F7JK4/ 9J AGK;K?r/ U J6
K'K6V@= 9p9BJ= BE =R7 U J6
223
7KzEJE J'O
8A8=JA 9J BJ= J=J F7JK4/ 9J
AGK;K?r/ U J6 K'K6V@= 9p9BJ= BE
=R7 U J6 7KzEJE J'O
O pJAV9AV*JKAAO
112
E>J !K6= U U9J,q F7J4V6= JV'
224
$@&Y $+=41
K6<MKy 39J pJAV9A*A JV& =R7

J K=V = F7J46 7KzEJE K6<MKyO
O 9pJ"VAJKAAO
9pJ"JAL K;> U9J,q 39J 9pJ"JKA B V/

6p U J6 K'K6@ 7v\/ K=9J= J'O
O 9J KAV6JKAAO
IJ%J /N>J B V/ AM/J W/=L BE =R7

U J6 J=!J6J= /N>J #= U9J G =^;
39J JK,qG =^V; U J6 J'O
O U>!V = U7K? AGV J%6O
4L#q J>9pJ7L BJV/ K>!J= U J6 J'O
O 7J JV6J EJ>J= U7K? AGV J%6O
/N>J 9J
J'O
05J=J
(<0<
O !K6V/ ;q=/ ?rK; "V.= =){< .<4 v2 JV>JK / !K6V/ J'O

W'9 9J X'9 =JAJEK6 9p9BJ=
39J 6JCJ %JCJ =J BE ;6 J'O
BJ/ J=J 9v\ 6JCJ %JCJ K=V/
BE ;6 U J6 J'O
O 8NA8NVA= 8J V9rJKAAO
7J* /N>J= JI? 9p9BJ= BE =R7

7KzEJE U J6 J'O
225
0 =,(<) 4<G*G` 2Z=.G 0 49f<

PO-?Y^ ,X=^ G#0 $<=1 VEV/ 39J U J6 U =J6L KBAJV9 K6<MKy 9p/L/ U J6 K>8* 39J
9JuLE ?Ky 39J <JKe ?Ky 39J K94MpF ?Ky %JK>/ U J6 "JCL %J>6J 9J
={.JV9{V.= JV' K6VEJK'/ JV&6
;6 U J6 9JCL #= 9J JK6JE K6<My JV&6 U<!JV6 7IJ% 9J /V/JK5
9pKy U J6 F7J46 7KzEJE 39J F7J46 7KzEJ= AKB/ AGK? 39J BJ=
J6M@GK" F7JK4/ K'K6@ AGzJeb U J6 JV' K6VEJK'/ JV&6 9G <JBJV/
9JuLE 7J6LE 9J 6p U J6 <JKe 9J W94MpK/ ?Ky= 9p9BJ= BE K e\ F7J46
7KzEJ %V> 6J =R7 U J6 v]JV6 9J V{ U 9>;J U =J.L KBAJV9 K6<My U J6
9pKy BJ= eb:Mqy B V96 6J
6Mp6 7IJ% '6 9pKy K6<My JV&6 =R7 U J6 9JCL #= 9J JK6JE
9p9BJ= 9B6 39J K9zL= '6p U J6 4r9p 9J 4r9pJG? 7v\/ =. 7K=9/q6 =.
U;=J;/ =. >G =. AlP.q =. 39J 6p U J6:JV9 BJV 9p9BJ=
7V<J"L =V.= U J6 JV' K6VEJK'/ JV&6
6Mp6 4? '6 9pKy K6<My JV&6 =R7 U J6 9JCL #= 9J JK6JE U J6
K9VJ= 4r9p F7J46 9J 6JCJ%JCJ= JV' K6VEJK'/ JV&6
U J6 !K6V/ U =J6L"LK== J' 9p/L/ !K6 AGzJeb U/ !K6' 74J3q AGzJeb U J6 JV' 39J :P":qv] U J6 JV' K6VEJK'/
JV&6H
/V9 ?/q 3JV U<
48J= VV?p ;6 U J6 !66V !K6 9K>EJ ".p =J
B V9 6J <JBJV/ 7P9q9/Lq 9JV=J ;JVA U J6 K46 7J? 'V6= K5 9pKy ;q=/
K&V>6 6J 39J U J6 K9VJ= 9p9/ BE 6J 9G <JBJ= ":L=/J &E K;*JV==
K5 6VB
AlP.q 9J JGK? :JV9 9JuLE 39J 6p U J6 <JKe 9J W94MpK/ ?Ky
J=J %JK>/ U J6 'JBJ' 9J U6Y<JV6 9J BJ J=J *JK6EJ U6 EJ BE =R7 U J6
'JBJ' 9J U6Y<JV6 ;JJ= 6JK9 9J 6p U J6:JV9 K6VEJK'/ JV&6
U J6 'JBJV'= ;JJ= 9J 6JK9 9p/L/ 'JBJV' ;J>J;J> U9J(J
V>= AM/J 7J JV6J= U J6
O %;q 74JBO
4r9p1
113
226
!J>JA 'iJ>J6L U9J(J K6;qJ. U;=J;/ :JGK"EJ U8>J 7K=uZJ= 39J =G U4 EJ=
JV' K6<My JV&6 39J 9f4= J 6
AV6= 6G J 6 =
5L6 U J6 9f4V== AL;J6J= ;V5p 'JBJV' ;J>J;J> U9J(J 9J !J>JA =J= '6p
9p9/ 7K=9B6 7K=%J>6J= JV' K6VEJK'/ JV&6
%"J; 39J ;G>J 9f4V= <JKe ?KyJ=J %JK>/ "JCLV/ ;J> +JV6J
6J;JV6J= JV' K6VEJK'/ JV&6
K6;gK>K!/ 5=V6= K6;qJ. U;=J;/ 39J :JGK"EJ U8>J= JV' K6VEJK'/
JV&6 <3JH
U J6 :96 9J J+JV;J
! 6L% B V/ 7= 7<qeb K;*J= 9J /V/JK5 _%/J Al6g U J6 9IJ5
" U J6 AC UA/N 9J AMC 39J
# U J6 EJ8q U'K* A;M4r 7J%L= 39J U J6 ;MK=GAB 6p U J6 U6Y J'
39J 'JBJ'
U J6 U*K>"J8 9J U*K>V8J6 >J 6 9J !IMK* 39J :J=VB, W94MpK/
>J 6 9J pJ9> 9J BJ= '6p !IMK* v]J76 U;=J;/ ={.JV9{. 39J 6J;J EJ
U8>J= JV' K6VEJK'/ JV&6
U =J6L KBAJV9 K6<MKy 9p/L/ U J6 =M73 pJV6> 7J 7 >J 6 39J
7EH7.J>L K6;qJ. 9J KzEJ V;q 9J U;=J;/ 39J :JGK"EJ U8>J= JV' K6VEJK'/
JV&6
4; > 9JKB6L= U J6 JV' K6VEJK'/ JV&6
U=> VE= AV %NKy AlJ46 J=L U J6 9pKy /qS %NKy AlJ4V6= '6p
A=JAK= 9J U J6 7 K+ J4JV== ;J5pV; U=> VEV/ K6VEJK'/ JV&6
U=> VE U; > AJK:qVA U J6 7K=4?q U; > "J,q A*qJ= 9J :pJ6 K7E6
KBAJV9 K6<My JV&6 39J ,J
/J= K9:JV" AJ5J=./H 9JKBV= J' K=V/
BE =R7 U J6 U7?JE K6VEJK'/ JV&6
,J /J= 9J U*K>V8J6 K9:JV" 9JKBV== JV' U*r'J=L= U =J6L KBAJV9
K6VEJK'/ JV&6
U =J6L KBAJV9 K6<MKy 9p/L/ 7J TK/ U7V*rJK>EJ; 9J 7J TK/ "pJA
VJ>6 JV'= AKB/ AGK? U J6 JV' K6VEJK'/ JV&6
K9VJ=. AGzJeb U J6 JV' K6VEJK'/ JV&6
7IK%? 'V6= K5 9pKy K6<My JV&6 39J K9VJ= 9p9/ BE
39J 7= B V/ 6L% 7<qeb <JBJ= ":L=/J K;*JV== U9?L =R7 U J6 K6;qJ. 9J
!66 JV' K6VEJK'/ JV&6
227
4? 'V6= K/K=y U>J 9B6 {;/J Al6g U J6 U8=L U9J* %J>6J=

JV' K6VEJK'/ JV&6
U =J6L KBAJV9 K6<MKy 9p/L/ K8 =J9J= 9J %J F7J4V6= '6p
9p9/ 9G 6Mp6 7IK%? 9pKy ;q=/ =R7 U J6 9J"JV6 K6VEJK'/ JV&6
U =J6L KBAJV9 K6<MKy 9p/L/ K94MpF F7J46 BJ= A=9=JB 9J BsJA
9SK 39J "pJA F7J46 9J A=9=JVB= JV' K6VEJK'/ JV&6
9JK/#= J 6
AV6=
6G J 6 = 5J=J # U/
AGJKE/ U J6 9JK/#V== JV' K6VEJK'/ JV&6
'6A;V{ 74?qV6= VV?p %>K_% K6;qJ. 9J BJ= 74?qV6= JV'
K6VEJK'/ JV&6
BJ/L 9J 6p 96p 'e\V 7K?{.4JV6= JV' 9J BJ= 7J>6 9J U J6
KzEJ V;q K6VEJK'/ JV&6
/J>"J& B V/ =A AG"B =J "J& J*J 9J BJ ! ! =J 9J
J:peb=L. '>7V3 BJ
v]J6 B V/ 6pv]JV6 > EJ <J EJ 39J 4J9J6>
K6Ee. 9J K69qJ7V6= JV' K6VEJK'/ JV&6
BJ/L 9J 6pJ6p 96p 'e\ 5=J 9J K? JV== '6p JV' K6VEJK'/ JV&6
,rJ :J= KBAJV9 K6VEJK'/ JV&6
7.p }4J;'J/ =J BE 9G 6Mp6 4? 9pKy K6<My JV&6 =R7 U J6
}4J; #= 9J 6p U J6 'JE"JE 9J BJ= AL;J6JE 39J 6Mp6 ?/ 9pKy K6<My
JV&6 =R7 U J6 9J'J= 9J BJ= AL;J6JE 7.p 6JCJ %JCJ 9J 7K=9BV6= JV'
K6VEJK'/ JV&6
U=K,EJ; 9J | V= <e7JK/ %J>6J 9J 6JCJ %JCJ K=V/ BE 39J
U/'u[LE 7J4JV6= AGvV?q JKAV/ BE =R7 U J6 JV' K6VEJK'/ JV&6
U J6 AC 7K=9B6 AJK:qVA ,rJ :J= tL6J= Jx= 9G U% J=
KBAJV9 K6VEJK'/ JV&6 39J
7JBJ=J *B>4J=L= JV' K6VEJK'/ JV&6O
114
228
*g. $+=41
0 5J=J
4r9p 1
,<91<G'2
=$*7 F`Gm *rG'7 `=$*B0G#0 *=0.<#

'!; 7J
?rK;V = ;JKA
;'M=Lvb=
{K/7P=V.= 7K=;J.
;S/Mp'K6/
J=V.
?rK;V = ;JKA *JH

;P> ;'M=L <JBJ
B 6J U 6
v]JEL AlP.q
{;/J= J=V.
*JH
v]JEL
{;/J=
J=V.
;JKA
3q KBAJV9 74
{K/7P=V.= 7K=;J.
=$=0^ 49 X<
$EY*` $EY *r <=2$
,?(,<0
G]<,0
{;/J= U;EJ4 JV>= '6p

39J
9FA= 7<qeb <JBJ
; B V9 {K/7P=. 74J6 =J
B V9O
"67'J/eL 9JG>JV4? A= J=
9JG>JV5; A= J=L ;M4r.J>E
V/'"IJ -J JO
y=R7 {K/7P=. 73; 4M

;JVA= '6p AlP.q ;JKA
;'M=L 7=9/qL 4M ;JVA= '6p
;JKA ;'M=L= 4M /T/LEJG?
9G /F7=9/qL ;JA}K>= '6p
;JKA ;'M=L= V5q BJV=
74J6 =J B V9O
AGV?J56L
/JK=!
"BJE.
K,VAl2=
6G 7K=
"/
VxJ9=
/JK=V!=
9JG>JV4? U"V'V*= K/K=y AG!pJ=
BV/
6G 7SJE 7 JK?/
9JG>JV4? ?r; J 6
AJV6=
6G J 6 = 5J=J
=
7 5J=J
$ = 7V= :M>9?/H ?/qJG? &J7J B EJV&O
{V. y J V6= 5J=J
= 7 5J=J
$ = E 7GKyV/
9Kv]/ H K%K*= 7K=9V/q O K%K* 7KCV/ B V9 9G y 7 5J=J
$ = ?/qJG?K* K9>M B V9O
U ; =K8 N> A>J;
7 AK%9
7 K6Ee O
4L#q J> v]JEL U7?J"/ 9pJK5=

U{V {;/J= '6p {K/7P=.
;JKA ;'M=L= V5q BJV=
{;/J= U;EJ4 JV> 74J6
=J B V9 /V9
U;EJ4
U J6 U{V 4M 9FAV==
K5 B V9 6JO
229
G G
. <$< 0 05.<)
AK%9O
115
; =K8 N> A>J; 7 AK%9 7 K6Ee 9JG>JV4? A= J=L ;M4r.J>< -J J /Tq ;MK4r/O
V;J JK;6 'MV9=L J>; 7 K6Ee 9JG>JV4? 8=; 7 J?6J K8A
V/'"IJ -J J /Tq 7r JK?/O
;P>p *J J
230

Bangladesh Labour Law - 2006

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Bangladesh Labour Law - 2006

Uploaded by

Copyright:

Available Formats

9JG>JV4? ?

*r&. (X<7 : *r<0=UT

< @0>0 2$Y<,1>

$E$>7 (X<7 : = G2<0 2Z=. =)G7<

K/7E U{V ;KB>J ?rK;V = V;q K6VEJ" K6K@O

*g. (X<7 : \%<\LX0`< ,X,\L<

4x. (X<7 : \%<\LX \%<\LX =,=(

:96 <e7JK/= K6=J7JO

=)0<*k< 4UG Y =,G23 =,(<)

7J3K; K%K FAJ A=J;O

),. (X<7 : .Y Q <

<'2 (X<7: . ?0> F,<!Y

;'M=L= K9V?@ AGJO

'q 9J K"; J4JVE= '6p ;'M=L /q6O

K6;g/; ;'M=L U9J,q 7K/JO

t<'2 (X<7 : '? Y )< =)$ <0G#

G.0 )X 2Z=.G 0 `=$*B0#

{K/7P=. 74JV6= '6p ;JK>V = 4JKE/iO

?rK;V = K9V?@ AGJO

7K/J67MV U*r, K6E6 U=K'Kr =.O

*g'2 (X<7 : F <U<)>0 .?)<+<7 2Z=.G 0 92 r5#

F3<62 (X<7 : ! 2Z=.

G#0 =)G7< =)7Pe# ,9 =)0<*k<

vZL; 7.EV6= {;/JO

/pJK4 Al2V K9V?@ K95J6O

4x'2 (X<7 : -=,3X $5=,1

U9A= J=L !JV/ 7K/JV6= ?rK; "V.= '6p :K9@p /BK9>O

=,92 (X<7 : *r2<4) *=0'2Y)

AJ5J=. U{V U J*q K8AO

A 49=`x =2G0<)<. *Z,$Y) ,9 *rG7< Aoo

,<91<G'2 <$>7 494'

AGA4 /Tq "SBL/ K6;gK>K!/ J 6K* U? JK?n6

/4J=J K6;g=^7 J 6 =J B >H

U J6 9v\ 9J 74JV3q= 9p9BJ= K9zE 7K=9B6 K9/=. 74?q6 9J

6MAJV6= '6p J<q 7K=%J>6J =J BE 9G !K6V/ 9J BJ=

U Y?> <JBJ J=J U J6 7J ; ;M:JV== "K/ U J6 <e7JK/ 9J 7JVf*

U J6 U*r, K6E6 AlVq K69qJBL K;K* 3q ;6 U J6

9JCL #= 9J JK6J U<!JV6 U J6 K? 7K=%J>6J= '6p ?rK; K6VEJ"

& U J6 tJ9 UBJV*> U=IVvbJ=J 9J !J9JV== #=

eb:Mqy B V96 <3JH

J V6= 5L6 7.L/ U J6 vZL;O

< @0>0 2$Y<,1>

O < @0>0 2$Y<,1>Aoo

K6VEJ" 7K?{.J3qL KBAJV9 BE 9G 7K?{. JV> /JBJV :J/J

?rK; V K6VEJ" K=V/ 7JK=V96 6J 9G K6VEJK'/ 7V/p ?rK; V &K9AB

*=0 7 *mOooU J6 ;JK> K6VEJ"7 74J6 6J K=EJ U J6

O 4<=-Y4 , G7 PO-?Y=^Aoo;JK> U J6 ?rK;V = %J N=L= =^V/ 9G /JBJ=

O 2Z=. F0= ~<0 ,9 = G

O ,X=7$ ?= 0 . ?0> *r'<)Aoo<K4 U J6 ?rK;V = %J N=L &IJ*J K,A%J'q

O *r=$|<) ,v 0< <Aoo

eb/H 4M ?/ %K>? K46 9J

O F1 + E$ 2Z=. G#0 .<~<0 F0<1Aoo U J6 7K/JV6 ?rK; ".V U>

! K/K6 ;JK>V = K6V4q? AVi

/JBJ= &IJ*J VE= J=. V>! K=EJ

O .D$?X =)$ 4?=,(<Aoo<K4 U J6 ?rK; U J6 ;JK>V = 5L6 K9K_&6g:JV9

O ;< < Aoo U J6 ?rK; V 7VEJ'6 K/K=y/J= J=V. U J6 7K/J6

O < @0> 5 G$ =!4 < YAoo

KBAJV9 K? K4V6= ;'M=L 39J "J%N K* <K4 7V4E BE <JBJ K5

#M@ "B. 9J 74J6

O 4'< 0# ,9 'j *r<=x0 F`Gm 2<=\OAoo

/JBJ= "C ;'M=L ;BJ#q:J/J 9G ,B 9J eb9q/qL ;'M=L <K4

U J6 ?rK;V = 7= JV=JK7/ 'K=;J6J K Kvb K:KV/ 9J BJ

O =0.<)< 4UG Y =,G23 =,(<)Aoo U J6 ;'M=L U;EJV4 7V4E ;'M=L=

r&. (X<7 : r<0=UT

=,92 (X<7 : r2<4) =0'2Y)

A 49=`x =2G0<)<. Z,$Y) ,9 rG7< Aoo

U J6 Ur, K6E6 AlVq K69qJBL K;K 3q ;6 U J6

=0 7 mOooU J6 ;JK> K6VEJ"7 74J6 6J K=EJ U J6

O ,X=7$ ?= 0 . ?0> r'<)Aoo<K4 U J6 ?rK;V = %J N=L &IJJ K,A%J'q

O !<^<0> 0>`<0 )X <G'2 r'<G)0 `.$<Aoo U< U{V U J6

O =2z 49_<PO =$7 @=^0 ,X<<G0 ,<(< =)G3(Aoo

O =,d) /Pe<=$0 <G = G2<0 =)G7< Aoo

O r4B=$ 1X<# 4?=,(< =0G2<( 49_<PO *s=$Aoo

O r4B=$ 1X<# 4?=,(<0 =0.<#Aoo

O , YX '<&Y 4<0#Aoo 7V/p 7K/J6V

O <) 0<0 <=)Aoo 7V/p 7K/JV6 BJV/ ;q=/ A > ?rK;V =

O <7 <)< F2<, <)<Aoo 7V/p 7K/JV6

O 1.<) /Pe<=$0 G0 ,< =) G < Aoo U< U{V U J6 7K/JV6

O `=$B0# r'<G)0 )X .<=1G 0 '<=7$SAoo

;6 U J6 U=JV"= Jz;. UA U{V 4M#q6JK y U=J" J=J