Professional Documents
Culture Documents
6FKHGXOLQJDJUHHPHQWUHOHDVHGRFXPHQWDWLRQ(536&06&1:LNL
*HWWLQJ6WDUWHG 1HZVOHWWHUV
:HOFRPH*XHVW
/RJLQ
5HJLVWHU
6WRUH
6HDUFKWKH&RPPXQLW\
3URGXFWV
6HUYLFHV 6XSSRUW
$ERXW6&1
'RZQORDGV
,QGXVWULHV
7UDLQLQJ (GXFDWLRQ
3DUWQHUVKLS
'HYHORSHU&HQWHU
/LQHVRI%XVLQHVV
8QLYHUVLW\$OOLDQFHV
(YHQWV :HELQDUV
,QQRYDWLRQ
(536&0 6FKHGXOLQJ$JUHHPHQW
6FKHGXOLQJDJUHHPHQWUHOHDVHGRFXPHQWDWLRQ
&UHDWHGE\$UPLQGD-DFNODVWPRGLILHGE\'LDQD'DLRQ'HF
3XUSRVH
7KHSXUSRVHRIWKLVZLNLLVWRLQWURGXFHWKH6FKHGXOLQJ$JUHHPHQW5HOHDVHSURFHVVLQJ
2YHUYLHZ
2YHUDOOSURFHVV
6FKHGXOLQJDJUHHPHQWSURFHVVLQJFRQVLVWVRIWKUHHPDLQVWHSV
0DWHULDOUHTXLUHPHQWVSODQQLQJ
5HOHDVHJHQHUDWLRQ)5&-,7
2XWSXW7UDQVPLVVLRQRIUHOHDVHV
7KHPDLQSRLQWVRIWKLVZLNLDUH
0DWHULDO5HTXLUHPHQWV3ODQQLQJ
5HOHDVHW\SHV5HOHDVHJHQHUDWLRQ
2XWSXWWUDQVPLVVLRQRIUHOHDVHV
&UHDWLRQ3URILOH
3URJUDPV
5HODWHG6$31RWHV.%$V
0DWHULDO5HTXLUHPHQWV3ODQQLQJ
7KHFXUUHQWRYHUDOOGHOLYHU\VFKHGXOHIRUDPDWHULDOWKDWLVSURFXUHGYLDVFKHGXOLQJDJUHHPHQWUHOHDVHVFKDQJHVFRQWLQXRXVO\GXULQJDQ053UXQGXHWRWKHUHTXLUHPHQWVIRUWKDWPDWHULDOGHSHQGHQW
UHTXLUHPHQWVDQGVRRQ7KLVUHVXOWVLQTXDQWLWLHVDQGGHOLYHU\GDWHVWKDWDUHWREHWUDQVPLWWHGWRWKHYHQGRULQWKHIRUPRIUHOHDVHVDJDLQVWWKHUHOHYDQWVFKHGXOLQJDJUHHPHQW
7KHSUHUHTXLVLWHIRUDXWRPDWLFFUHDWLRQRIVFKHGXOHOLQHVGXULQJUHTXLUHPHQWVSODQQLQJLVWKDWDVFKHGXOLQJDJUHHPHQWLVIODJJHGDV053UHOHYDQWLQWKHVRXUFHOLVW<RXFDQGRWKLVLQWKH3XUFKDVLQJPHQX
0DVWHUGDWD!6RXUFHOLVW!0DLQWDLQWUDQVDFWLRQ0(
<RXPXVWPDLQWDLQDUHFRUGIRUWKHPDWHULDOKHUHDQGLQWKLVUHFRUGWKHILHOG
053
PXVWFRQWDLQWKHLQGLFDWRU
7KHVFKHGXOHOLQHVFUHDWHGE\WKH053UXQDUHDVVLJQHGFUHDWLRQLQGLFDWRU
%
DQGDUHFRQWDLQHGLQWDEOH(.(7LQILHOG(67.=
,QFRQWUDVWPDQXDOO\FUHDWHGVFKHGXOHOLQHVDUHDVVLJQHGFUHDWLRQLQGLFDWRU
5
$QRWKHUGLIIHUHQFHEHWZHHQPDQXDOVFKHGXOHOLQHVDQGVFKHGXOHOLQHVIURPUHTXLUHPHQWVSODQQLQJLVWKDW\RXFDQRQO\HQWHUDWLPHIRUPDQXDOVFKHGXOHOLQHV
5HOHDVHW\SHV5HOHDVHJHQHUDWLRQ
%DVLFDOO\UHOHDVHJHQHUDWLRQ
WUDQVODWHV
WKHFXUUHQWRYHUDOOGHOLYHU\VFKHGXOHLQWKHV\VWHPLQWRDUHOHDVH5HOHDVHVLQIRUPWKHYHQGRURIZKLFKTXDQWLWLHVRIDPDWHULDODUHWREHGHOLYHUHGRQZKLFKGDWH
7KHLQGLYLGXDOUHOHDVHVDUHUHFRUGHGXVLQJWKHUHOHDVHGRFXPHQWDWLRQDQGFDQWKHUHIRUHEHGLVSOD\HGDWDQ\WLPH
<RXFDQRQO\FUHDWHUHOHDVHVIRUVFKHGXOLQJDJUHHPHQWVZLWKUHOHDVHGRFXPHQWDWLRQ'RFXPHQWW\SHLQWKHVWDQGDUGV\VWHPLV/3$RUWKH5HOHDVHGRFXLQGLFDWRUPXVWEHIODJJHGLQ&XVWRPL]LQJIRU
3XUFKDVLQJ!6FKHGXOLQJ$JUHHPHQW!'HILQH'RFXPHQW7\SHV
1RWH
7KHUHLVQRUHOHDVHGRFXPHQWDWLRQIRUVWRFNWUDQVSRUWVFKHGXOLQJDJUHHPHQWV(YHQLIWKH5HOHDVHGRFXLQGLFDWRULVIODJJHGIRUGRFXPHQWW\SH/8LQ&XVWRPL]LQJLWKDVQRHIIHFW
7\SHVRIUHOHDVHV
)RUHFDVWGHOLYHU\VFKHGXOH)5&
3URYLGHVWKHYHQGRUZLWKLQIRUPDWLRQRYHUWKHORQJHUWHUPDERXWZKLFKTXDQWLWLHVRIDPDWHULDODUHWREHGHOLYHUHGRQZKLFKGDWH'HOLYHU\GDWHVDUHXVXDOO\VSHFLILHGDVFDOHQGDUPRQWKVRUZHHNV
-,7GHOLYHU\VFKHGXOH-,7
3URYLGHVWKHYHQGRUZLWKLQIRUPDWLRQDERXWZKLFKTXDQWLWLHVRIDPDWHULDODUHWREHGHOLYHUHGDWZKLFKSRLQWLQWLPHLQWKHQHDUIXWXUH([DFWGHOLYHU\GDWHVFDOHQGDUGD\VRUHYHQGHOLYHU\WLPHVDUHXVXDOO\
VSHFLILHG
7KHVXJJHVWHGTXDQWLW\IRUJRRGVUHFHLSWVLVEDVHGRQWKHODVWGHOLYHU\UHOHYDQWUHOHDVHWUDQVPLWWHG,I\RXXVHERWKW\SHVRIUHOHDVHWKHV\VWHPVXJJHVWVWKHGDWDLQWKH-,7VFKHGXOH,I\RXXVHRQO\
WKHIRUHFDVWVFKHGXOHWKHV\VWHPVXJJHVWVWKHGDWDLQWKHIRUHFDVWVFKHGXOH
1RWH
,QRUGHUWRZRUNZLWK-,7GHOLYHU\VFKHGXOHV\RXPXVWKDYHVHWWKH-,7VFKHGXOHLQGLFDWRULQWKHPDWHULDOPDVWHUUHFRUG0$5&)$%.=DQGWKLVZLOOEHFRSLHGLQWKHLWHPZKLOHFUHDWLQJDVFKHGXOLQJ
DJUHHPHQW<RXGRWKLVRQWKH
3XUFKDVLQJ
YLHZRURQWKH
053
YLHZRIWKHPDWHULDOPDVWHUUHFRUG7KLVLQGLFDWRUFRQWUROVZKHWKHU-,7GHOLYHU\VFKHGXOHVFDQEHFUHDWHGIRUDPDWHULDOLQDGGLWLRQWR
IRUHFDVWVFKHGXOHV
KWWSZLNLVFQVDSFRPZLNLGLVSOD\(536&06FKHGXOLQJDJUHHPHQWUHOHDVHGRFXPHQWDWLRQ
6FKHGXOLQJDJUHHPHQWUHOHDVHGRFXPHQWDWLRQ(536&06&1:LNL
,WLVDOVRSRVVLEOHWRHQWHUWKHILHOG)$%.=PDQXDOO\RQWKHDGGLWLRQDOGDWDVFUHHQLQWKHVFKHGXOLQJDJUHHPHQW
7DEOHV
(.(.+HDGHU'DWDIRU6FKHGXOLQJ$JUHHPHQW5HOHDVHV
(.(+6FKHGXOLQJ$JUHHPHQW5HOHDVH'RFXPHQWDWLRQ
3RVVLEOHFDXVHRIHUURU&XVWRPHUFDQQRWFUHDWHDQ\-,7VFKHGXOHV
,I\RXKDYHVHWWKH-,7VFKHGXOHLQGLFDWRULQWKHPDWHULDOPDVWHUUHFRUGDQGWKHVFKHGXOLQJDJUHHPHQWKDGKRZHYHUDOUHDG\EHHQFUHDWHG\RXFDQQRWFUHDWHDQ\-,7VFKHGXOHVIRUWKLVVFKHGXOLQJ
DJUHHPHQW&KHFNLIWKHUHDUHDQ\FKDQJHGRFXPHQWVLQWKHPDWHULDOPDVWHUUHFRUGIRUWKH-,7VFKHGXOHLQGLFDWRUDQGFKHFNZKHQWKHVFKHGXOLQJDJUHHPHQWLWHPZDVFUHDWHG
<RXFDQDOVRHQWHUWKLVLQGLFDWRUPDQXDOO\LQ0(/RQWKHDGGLWLRQDOGDWDVFUHHQ
<RXFDQXVHFUHDWLRQSURILOHVWRLQIOXHQFHWKHTXDQWLWLHVDQGGDWHVWUDQVPLWWHG<RXFRQILJXUHDFUHDWLRQSURILOHLQ&XVWRPL]LQJIRU3XUFKDVLQJE\FKRRVLQJ6FKHGXOLQJ$JUHHPHQW!0DLQW5HO&UHDWLRQ
3URILOHIRU6FKHG$JPWZ5HO'RFXWUDQVDFWLRQ2083:HZLOOJRLQWRPRUHGHWDLORQWKHVH&XVWRPL]LQJVHWWLQJVODWHU
7KHV\VWHPVWRUHVDWUDQVPLWWHGUHOHDVHZLWKDUHOHDVHQXPEHUDQGLQFOXGHVWKHGRFXPHQWLQWKHUHOHDVH
KLVWRU\
7KHV\VWHPWKHQJHQHUDWHVWKHQH[WUHOHDVHRIWKDWSDUWLFXODUUHOHDVHW\SHZLWKDQXPEHU
LQFUHDVHGE\RQH
)RUHFDVWVFKHGXOHVDQG-,7VFKHGXOHVKDYHVHSDUDWHQXPEHUUDQJHV
&UHDWLQJDUHOHDVH
<RXFDQFUHDWHUHOHDVHVXVLQJDUHSRUW50()/%WUDQVDFWLRQ0(
<RXFDQDOVRFUHDWHUHOHDVHVPDQXDOO\<RXFDQGRWKLVIURPWKHVFKHGXOLQJDJUHHPHQWGHOLYHU\VFKHGXOHE\FKRRVLQJ(GLW!*HQHUDWH-,7VFKHGRU*HQHUDWHIRUFVFKGDVZHOODVIURPWKHLWHP
RYHUYLHZVFUHHQRIWUDQVDFWLRQ0(E\FKRRVLQJ(GLW!*HQHUDWH-,7VFKHGRU*HQHUDWHIRUFVFKG
1RWH
<RXPXVWQRWHWKDWWKHV\VWHPGRHV127FDUU\RXWDWROHUDQFHFKHFNRUEDFNORJGHWHUPLQDWLRQZKHQ\RXPDQXDOO\FUHDWHUHOHDVHV
7KHV\VWHPRQO\DJJUHJDWHVVFKHGXOHGTXDQWLWLHV
,QWDEOH(.(.ILHOG67$$%6WDWXVRIUHOHDVH\RXFDQVHHKRZDUHOHDVHZDVFUHDWHGPDQXDOO\RUE\UHSRUW50()/%
5HOHDVHFUHDWLRQEDVLFDOO\FRQVLVWVRIWKHIROORZLQJVWHSV
&RQYHUVLRQRIWKHFXUUHQWRYHUDOOGHOLYHU\VFKHGXOHLQWKHV\VWHPLQWRDJJUHJDWHGUHOHDVHGDWHVDQGTXDQWLWLHVZKHUHDSSOLFDEOHVHHDOVR
&UHDWLRQ3URILOH
IRUPRUHLQIRUPDWLRQRQWKLV
&UHDWLRQRIDUHOHDVH)5&-,7LQDFFRUGDQFHZLWKDSDUWLFXODUFUHDWLRQVWUDWHJ\IRUH[DPSOHQH[WFUHDWLRQGDWHUHDFKHGFXUUHQWRYHUDOOGHOLYHU\VFKHGXOHKDVFKDQJHG<RXXVHERWKWKH
*HQHUDO
SDUDPHWHUV
DQGWKH
&UHDWLRQSHULRGLFLW\
LQWKHFUHDWLRQSURILOHWRFRQWUROWKLV<RXFDQSUHYHQWUHOHDVHFUHDWLRQEDVHGRQDFKDQJHLQWKHFXUUHQWRYHUDOOVFKHGXOHE\PHDQVRIDWROHUDQFHFKHFNLI
QHFHVVDU\VRWKDWPLQRUFKDQJHVFRPSDUHGWRWKHODVWUHOHDVHGRQRWQHFHVVDULO\OHDGWRWKHFUHDWLRQRIDQHZUHOHDVH
2SWLRQDOFDOFXODWLRQRUVWDWHPHQWRIEDFNORJVDQGLPPHGLDWHUHTXLUHPHQWVLIWKLVIXQFWLRQLVDFWLYH
,QWKHFDVHRIUHOHDVHFUHDWLRQ
%DVHGRQFKDQJHV
RSWLRQDOWROHUDQFHFKHFNWKDWRQO\DOORZVFUHDWLRQRIDUHOHDVHRQO\LIFKDQJHVWKDWOLHRXWVLGHDGHILQHGWROHUDQFHOLPLWKDYHRFFXUUHGVLQFH
WUDQVPLVVLRQRIWKHODVWUHOHDVH
,IWKHV\VWHPFUHDWHVDUHOHDVHLWDOVRFUHDWHVDPHVVDJHUHFRUGDWWKHVDPHWLPH7KLVPHVVDJHUHFRUGLVDSUHUHTXLVLWHIRUWKHRXWSXWDQGWUDQVPLVVLRQRIWKHUHOHDVHWRWKHYHQGRU
2XWSXWWUDQVPLVVLRQRIUHOHDVHV
<RXFDQSURFHVVWKHPHVVDJHUHFRUGVIRUWKHQHZO\FUHDWHGUHOHDVHVHLWKHULPPHGLDWHO\RULQDVXEVHTXHQWFROOHFWLYHRXWSXW0HVVDJHVDUHRXWSXWLPPHGLDWHO\LIWUDQVPLVVLRQWLPH
LVVHW
&ROOHFWLYHSURFHVVLQJLVSRVVLEOHLI\RXDUHZRUNLQJZLWKWUDQVPLVVLRQWLPH
RXWSXWYLD561$67RU
RXWSXWYLDWKHDSSOLFDWLRQVSHFLILFRXWSXWSURJUDP
<RXFUHDWHPHVVDJHFRQGLWLRQUHFRUGVLQWKH3XUFKDVLQJPHQXE\FKRRVLQJ0DVWHUGDWD!0HVVDJHV!6FKDJPWVFKHGXOH!&UHDWH
:KHQWKHV\VWHPRXWSXWVDPHVVDJHFHUWDLQXSGDWHVWDNHSODFHWKDWGHVLJQDWHWKHUHOHDVHDV
FRPSOHWHGDQGRXWSXW
,IWKHV\VWHPKDVQRW\HWRXWSXWDUHOHDVHDVDPHVVDJHDQ\JHQHUDWLRQRID
IXUWKHUUHOHDVHZLOOFDXVHWKHODVWUHOHDVHZKLFKWKHV\VWHPKDVQRW\HWRXWSXWWREHRYHUZULWWHQ
$IWHUWKHV\VWHPKDVRXWSXWWKHUHOHDVHXVLQJWKHPDLQPHVVDJHW\SHVHHEHORZIRUDQH[SODQDWLRQRIWKLVWKHILHOGV
2XWSXWGDWH
DQG
2XWSXWWLPH
DUHILOOHG
$QRWKHULPSRUWDQWGHWDLOWKDWLVXSGDWHGDWWKLVSRLQWLQWLPHLVWKHUHVHWWLQJRIWKH
&KDQJHG
LQGLFDWRULQWKHVFKHGXOLQJDJUHHPHQWLWHP7KLVPHDQVWKDWDIWHUDUHOHDVHLVRXWSXWWKHVFKHGXOLQJDJUHHPHQW
LWHPLQTXHVWLRQLVQRORQJHUUHJDUGHGDV
&KDQJHG
DVUHJDUGVWKHRYHUDOOGHOLYHU\VFKHGXOHLQWKHV\VWHPXQWLO\RX
SURFHVVWKHVFKHGXOHDJDLQPDQXDOO\RUE\PHDQVRIWKH053UXQ
7KHV\VWHPFDQFUHDWHDVHSDUDWHPHVVDJHIRUHDFKUHOHDVHIRUDVFKHGXOLQJDJUHHPHQWLWHP7KLVPHDQVWKDWWKHYHQGRUUHFHLYHVRQHGRFXPHQWIRUHDFKUHOHDVH7KLVOHWV\RXRXWSXWUHOHDVHV
LQGLYLGXDOO\RUUHRXWSXWUHOHDVHVWKDWKDYHDOUHDG\EHHQWUDQVPLWWHG
,QRUGHUWRKDYHWKHV\VWHPFUHDWHDVHSDUDWHPHVVDJHIRUHDFKUHOHDVH\RXPXVWVHWWKHLQGLFDWRU
5HOPHVV
PHVVDJHSHUUHOHDVHLQ&XVWRPL]LQJIRU3XUFKDVLQJE\FKRRVLQJ0HVVDJHV!0HVVDJH
'HWHUPLQDWLRQ6FKHPDV!'HILQH0HVVDJH6FKHPDVIRU6FKHGXOLQJ$JUHHPHQW5HOHDVH([SHGLWHU!$VVLJQ6FKHPDWR6FKHGXOLQJ$JUHHPHQW5HOHDVH([SHGLWHU<RXFDQGLVSOD\WKHPHVVDJHVFUHDWHG
XQGHUWKHVH&XVWRPL]LQJUHTXLUHPHQWVLQWUDQVDFWLRQ0(E\VHOHFWLQJWKHUHOHYDQWLWHPDQGFKRRVLQJ6$5HOHDVHGRFXWKHQVHOHFWLQJWKHUHOHYDQWUHOHDVHQXPEHUDQGFKRRVLQJ0HVVDJHVSHUUHOHDVH
127YLD0(!+HDGHU!0HVVDJHV
1RWH
<RXFDQRQO\RXWSXWPHVVDJHVFUHDWHGDWUHOHDVHOHYHOYLDWKH3XUFKDVLQJPHQXE\FKRRVLQJ2XWOLQHDJUHHPHQW!6FKHGXOLQJDJUHHPHQW!'HOLYHU\VFKHGXOH!3ULQWWUDQVPLWWUDQVDFWLRQ0((
,IWKHUHDUHPHVVDJHVIRUWKHVFKHGXOLQJDJUHHPHQWWKDWKDYHQRWEHHQRXWSXWDQG\RXVXEVHTXHQWO\VHWWKH
0HVVDJHVSHUUHOHDVH
LQGLFDWRU\RXFDQVWLOOILQGWKHPHVVDJHVWKDWKDYHQRWEHHQRXWSXWYLD
+HDGHU!0HVVDJHV<RXZLOOILQGQHZO\FUHDWHGPHVVDJHVYLDWKHUHOHDVHGRFXPHQWDWLRQ0(!VHOHFWWKHUHOHYDQWLWHP!6$UHOHDVHGRFX!VHOHFWWKHUHOHYDQWUHOHDVH!0HVVDJHVSHUUHOHDVH
7KHV\VWHPVWRUHVWKHPHVVDJHVIRUDUHOHDVHLQWDEOH1$67XVLQJWKHIROORZLQJNH\
2EMHFWNH\WKLVPHDQVWKHGRFXPHQWQXPEHU
,WHP
5HOHDVHW\SH)5&RU-,7
5HOHDVHQXPEHU
3UHUHTXLVLWHVIRUWKHWUDQVPLVVLRQRIVFKHGXOLQJDJUHHPHQWVUHOHDVHVDVPHVVDJHVWRWKHYHQGRU
$VRI5HOHDVH\RXPXVWGHILQHH[DFWO\RQHPHVVDJHW\SHDVWKH
0DLQPHVVDJHW\SH
IRUHDFKUHOHDVHW\SHLQ&XVWRPL]LQJIRU000HVVDJH'HWHUPLQDWLRQIRU6FKHGXOLQJ$JUHHPHQW6FKHGXOHV
)LHOG
8
8SGDWHSULQWGHSHQGHQWGDWDPXVWEHIODJJHGIRUWKHPHVVDJHW\SHLQTXHVWLRQLQ&XVWRPL]LQJIRU0DWHULDOV0DQDJHPHQW!3XUFKDVLQJ!0HVVDJHV!2XWSXW&RQWURO!0HVVDJH7\SHV!
'HILQH0HVVDJH7\SHVIRU6FKHGXOLQJ$JUHHPHQW
KWWSZLNLVFQVDSFRPZLNLGLVSOD\(536&06FKHGXOLQJDJUHHPHQWUHOHDVHGRFXPHQWDWLRQ
6FKHGXOLQJDJUHHPHQWUHOHDVHGRFXPHQWDWLRQ(536&06&1:LNL
5HOHDVH([SHGLWHU!)LQH7XQHG&RQWURO)RUHFDVW'HOLYHU\6FKHGXOH([SHGLWHU
<RXPXVWDOZD\VXVHWKHPDLQPHVVDJHW\SHWRFUHDWHDOOUHOHDVHVRWKHUZLVHWKHV\VWHPGRHVQRWXSGDWHWKHSULQWGHSHQGHQWGDWD7KLVLVSDUWLFXODUO\LPSRUWDQWLI\RXXVHVHYHUDOGLIIHUHQWPHVVDJH
W\SHV
<RXFDQRQO\VHWWKHLQGLFDWRURQFHIRUHDFKUHOHDVHW\SH2SHUDWLRQ
FRUUHVSRQGVWRWKHIRUHFDVWGHOLYHU\VFKHGXOHDQGRSHUDWLRQ
$
FRUUHVSRQGVWRWKH-,7GHOLYHU\VFKHGXOH
([DPSOHWUDQVDFWLRQ2043
2SHUDWLRQVIRU0HVVDJH7\SH88SGDWH3ULQW'HSHQGHQW'DWD
/3+[PDLQPHVVDJHW\SHIRU)5&
/3+DGGLWLRQDOPHVVDJHW\SH
$/3-[PDLQPHVVDJHW\SHIRU-,7
$/3-DGGLWLRQDOPHVVDJHW\SH
$IWHUGHWHUPLQDWLRQRIWKHPHVVDJHW\SHWKDWXSGDWHVWKHSULQWGHSHQGHQWGDWDIRUHDFKUHOHDVHW\SHWKDWLVIRUHDFKRSHUDWLRQ\RXPXVWPDNHVXUHWKDWUHOHDVHVDUHDOZD\VFUHDWHGZLWKWKLVPHVVDJH
W\SHFDOOHG
PDLQPHVVDJHW\SH
<RXDUHDOORZHGWRFUHDWHDVHFRQGPHVVDJHW\SHLQSDUDOOHOZKHUHE\WKHPDLQPHVVDJHW\SHVKRXOGEHWKHRQHWKDWLVFUHDWHGILUVWVXFKDV/3+DVWKHVHFRQGPHVVDJHW\SHIRU/3+
7KHPHVVDJHVIRUVFKHGXOLQJDJUHHPHQWGHOLYHU\VFKHGXOHVLQWKHVWDQGDUGV\VWHP
/3+IRU)5&XSGDWHVGDWDUHOHYDQWIRUSULQWLQJ
/3-IRU)$%XSGDWHVGDWDUHOHYDQWIRUSULQWLQJ
/3(7IRUFRQYHQWLRQDOVFKHGXOLQJDJUHHPHQWVZLWKRXWUHOHDVHGRFXPHQWDWLRQ
/30$IRUVFKHGXOLQJDJUHHPHQWH[SHGLWHUV
&UHDWLRQ3URILOH
7KHH[WHQVLYHFRQILJXUDWLRQRSWLRQVLQWKHFUHDWLRQSURILOHDOORZ\RXWRSURGXFHWKHPRVWYDULHGUHVXOWVZLWKLQWKHVFRSHRIUHOHDVHJHQHUDWLRQ
7KHFUHDWLRQSURILOHLVDVVLJQHGWRDQ6$LWHP6$UHOHDVHLWHPRYHUYLHZVFUHHQ!,WHP!0RUHIXQFWLRQV!$GGLWLRQDOGDWD
<RXFUHDWHFUHDWLRQSURILOHVLQ&XVWRPL]LQJIRU3XUFKDVLQJYLD6FKHGXOLQJ$JUHHPHQW!0DLQW5HO&UHDWLRQ3URILOHIRU6FKHG$JPWZ5HO'RFX
&UHDWLRQSURILOHVDUHSODQWGHSHQGHQWDQGFRQVLVWRIWKHIROORZLQJ
*HQHUDOSDUDPHWHUV
$JJUHJDWLRQKRUL]RQV
&UHDWLRQSHULRGLFLW\
7ROHUDQFHSURILOH
*HQHUDO3DUDPHWHUV
,QWKHJHQHUDOSDUDPHWHUV\RXVSHFLI\WKHIROORZLQJIRUHDFKUHOHDVHW\SH
,IDQGLIVRXQGHUZKLFKFRQGLWLRQVWKHV\VWHPFUHDWHVDUHOHDVHRIWKLVW\SH&UHDWLRQVWUDWHJ\
,IEDFNORJVDQGLPPHGLDWHUHTXLUHPHQWVDUHWREHFDOFXODWHGDQGLGHQWLILHG
%DFNORJ4XDQWLWLHVZLWKDGHOLYHU\GDWHLQWKHSDVWWKDWZHUHWUDQVPLWWHGWRWKHYHQGRUE\PHDQVRIDVFKHGXOLQJDJUHHPHQWUHOHDVHEXWZKLFKKDYHQRW\HWEHHQGHOLYHUHG
,PPHGLDWHUHTXLUHPHQWV4XDQWLWLHVWKDWDUHUHTXLUHGLPPHGLDWHO\WRGD\RUHDUOLHUEXWZKLFKKDYHQRW\HWEHHQWUDQVPLWWHGWRWKHYHQGRUE\PHDQVRIDVFKHGXOLQJDJUHHPHQWUHOHDVH
KWWSZLNLVFQVDSFRPZLNLGLVSOD\(536&06FKHGXOLQJDJUHHPHQWUHOHDVHGRFXPHQWDWLRQ
6FKHGXOLQJDJUHHPHQWUHOHDVHGRFXPHQWDWLRQ(536&06&1:LNL
1RWHVRQ&UHDWLRQ6WUDWHJ\
7KHVHWWLQJVIRUWKHFUHDWLRQVWUDWHJ\LQWKHSURILOHRIWKHVFKHGXOLQJDJUHHPHQWLWHPDFWDVDILOWHUIRUWKHFUHDWLRQVWUDWHJ\RIWKHFUHDWLRQUXQ
7KLV
ILOWHUIXQFWLRQ
LVQHFHVVDU\VLQFHLWPDNHVPRUHVHQVHWRH[HFXWHWKHFUHDWLRQUXQXVLQJWKHVWUDWHJ\
&KDQJHGRUQH[WGDWH
7KLVVHOHFWVDOOVFKHGXOLQJDJUHHPHQWVLQWKHSODQWLQTXHVWLRQWKDWHLWKHU
LQGLFDWHDFKDQJHLQWKHRYHUDOOGHOLYHU\VFKHGXOHLQWKHV\VWHPRUIRUZKLFKWKHQH[WWUDQVPLVVLRQGDWHLVWKHVDPHDVRUHDUOLHUWKDQWKHFXUUHQWGDWH
7KHFUHDWLRQVWUDWHJ\LQWKHSURILOHQRZFRQWUROVLIDQGLIVRRQWKHEDVLVRIZKLFKHYHQWVWKHV\VWHPKDVWRFUHDWHDIRUHFDVWVFKHGXOHDQGRUD-,7VFKHGXOHIRUHDFKVFKHGXOLQJDJUHHPHQWLWHP
2QO\LQWKLVZD\LVLWSRVVLEOHIRUH[DPSOHWRSUHYHQWFUHDWLRQRIERWKDIRUHFDVWVFKHGXOHDQGD-,7VFKHGXOHGXULQJWKHFUHDWLRQUXQLIWKHRYHUDOOGHOLYHU\VFKHGXOHIRUWKHVFKHGXOLQJDJUHHPHQWLV
FKDQJHG,QWKHH[DPSOHWKHV\VWHPVKRXOGRQO\FUHDWHWKHIRUHFDVWVFKHGXOHEDVHGRQWKHQH[WFUHDWLRQGDWH
$JJUHJDWLRQKRUL]RQV
,QWKH
$JJUHJDWLRQKRUL]RQV
DUHD\RXVSHFLI\IRUHDFKUHOHDVHW\SHZKLFKWLPHKRUL]RQWKHV\VWHPXVHVWRGHWHUPLQHUHOHDVHTXDQWLWLHVDQGIRUZKLFKSHULRGVWKHV\VWHPDJJUHJDWHVWKHTXDQWLWLHVWR
SHULRGTXDQWLWLHV
ZKHUHDSSOLFDEOH
7KHH[DPSOHEHORZVKRZVKRZ\RXZRXOGVHWWKHSDUDPHWHUVLQWKH
$JJUHJDWLRQKRUL]RQV
DUHDWRWUDQVPLWPRQWKO\UHTXLUHPHQWVTXDQWLWLHVIRUWKHQH[WQLQHPRQWKVLQWKHIRUHFDVWVFKHGXOHDQGGDLO\
TXDQWLWLHVIRUWKHQH[WWHQGD\VLQWKH-,7VFKHGXOH
KWWSZLNLVFQVDSFRPZLNLGLVSOD\(536&06FKHGXOLQJDJUHHPHQWUHOHDVHGRFXPHQWDWLRQ
6FKHGXOLQJDJUHHPHQWUHOHDVHGRFXPHQWDWLRQ(536&06&1:LNL
7KHGDWDHQWHUHGLQWKLVH[DPSOHUHVXOWVLQWKHV\VWHPGHWHUPLQLQJGDLO\TXDQWLWLHVIRUWKHQH[WWHQZRUNLQJGD\VLQWKH-,7VFKHGXOH
7KHV\VWHPGHWHUPLQHVPRQWKO\TXDQWLWLHVIRUWKHQH[WZRUNLQJGD\V PRQWKVHDFKFRQWDLQLQJZRUNLQJGD\VLQWKHIRUHFDVWVFKHGXOH
&RPPHQW
,QWKHILHOG
3ODQFD
3ODQQLQJFDOHQGDU\RXFDQVWRUHDSODQQLQJFDOHQGDU<RXPDLQWDLQWKLVSODQQLQJFDOHQGDULQ&XVWRPL]LQJ!0DWHULDOV0DQDJHPHQW!&RQVXPSWLRQ%DVHG3ODQQLQJ!0DVWHU'DWD!
0DLQWDLQ3ODQQLQJ&DOHQGDU
&UHDWLRQ3HULRGLFLW\
,QWKH
&UHDWLRQ3HULRGLFLW\
DUHD\RXVSHFLI\IRUHDFKUHOHDVHW\SHLIDQGLIVRDWZKDWLQWHUYDOVWKHV\VWHPLVWRFUHDWHDUHOHDVHRIWKDWW\SH
(YHU\WLPHWKDWWKHV\VWHPFUHDWHVDUHOHDVHLWFDOFXODWHVWKHQH[WWUDQVPLVVLRQGDWHIRUSHULRGLFWUDQVPLVVLRQEDVHGRQWKHGDWH
([DPSOH
7KHV\VWHPLVWRFUHDWHDIRUHFDVWVFKHGXOHRQFHDPRQWKDQGDWOHDVWRQH-,7VFKHGXOHSHUZHHN<RXQHHGWRVHWWKHSDUDPHWHUVLQWKH
&UHDWLRQSHULRGLFLW\
7ROHUDQFH3URILOH
,QWKH
7ROHUDQFH3URILOH
DUHD\RXVSHFLI\IRUHDFKUHOHDVHW\SHLIWKHV\VWHPFKHFNVE\KRZPXFKWKHFXUUHQWUHOHDVHWREHFUHDWHGGLIIHUVIURPWKHODVWUHOHDVHWUDQVPLWWHGDQGLIVRKRZLWFDUULHVRXW
WKLVFKHFN
7KHSXUSRVHRIWKHWROHUDQFHFKHFNLVWROLPLWWKHIUHTXHQF\RIVFKHGXOHXSGDWHV
1RWHV
'XULQJWKHWROHUDQFHFKHFNWKHV\VWHPFRPSDUHVWKHUHOHDVHVFKHGXOHOLQHVLQWDEOHQRWWKHVFKHGXOHOLQHVLQWDEOH(.(7DQGRIWKHODWHVWWUDQVPLWWHGGHOLYHU\VFKHGXOHQRWQHFHVVDULO\WRWKHODVW
JHQHUDWHGGHOLYHU\VFKHGXOH
'XULQJWKHWROHUDQFHFKHFNWKHV\VWHPGRHVQRWFKHFNEDFNORJVDQGLPPHGLDWHUHTXLUHPHQWV
'LIIHUHQFHEHWZHHQLQGLYLGXDODQGRYHUDOOFKHFN
7KHH[DPSOHEHORZFRQWDLQVWKHIROORZLQJVFKHGXOHOLQHV
2OGVFKHGXOHOLQH6FKHGXOHOLQHFKDQJHGWRWKHIROORZLQJYDOXH
'D\4XDQWLW\ROG4XDQWLW\QHZ
[[[[[[
[[[[[[
[[[[[[
7RWDO
,QWKHWROHUDQFHFKHFNXSSHUDQGORZHUWROHUDQFHOLPLWVIRUWKLVSHULRGDUHVHWWR
,I\RXPDNHWKHVHFKDQJHVWRWKHVFKHGXOHOLQHVZLWKDEDVLFRYHUDOOFKHFNZLWKDVWKHXSSHUDQGORZHUWROHUDQFHOLPLWVWKHV\VWHPGRHVQRWFUHDWHDQHZUHOHDVH7KHRYHUDOOTXDQWLW\RIWKHVFKHGXOH
OLQHVZDVSLHFHVDQGDIWHUWKHFKDQJHVWKHWRWDORIWKHQHZVFKHGXOHOLQHVLV7KHUHIRUHWKHFKDQJHGRHVQRWH[FHHGWKHXSSHUOLPLWRISLHFHV SLHFHVDQGWKHTXDQWLW\KDVFKDQJHG
E\RQO\SLHFHV
,QWKLVH[DPSOHLI\RXFKHFNWKHVFKHGXOHOLQHVLQGLYLGXDOO\WKHV\VWHPZRXOGFUHDWHDUHOHDVHEHFDXVH\RXKDYHFKDQJHGWKHTXDQWLW\LQWKHILUVWOLQHE\PRUHWKDQDQGLWWKHUHIRUHH[FHHGVWKH
WROHUDQFHOLPLW
KWWSZLNLVFQVDSFRPZLNLGLVSOD\(536&06FKHGXOLQJDJUHHPHQWUHOHDVHGRFXPHQWDWLRQ
6FKHGXOLQJDJUHHPHQWUHOHDVHGRFXPHQWDWLRQ(536&06&1:LNL
3URJUDPV
3URJUDPV5HSRUWV
6$3/(,1/PDLQSURJUDPIRUUHOHDVHGRFXPHQWDWLRQ
50()/%5HOHDVHJHQHUDWLRQUHSRUWDVRIUHOHDVH
50()$%DVRIUHOHDVH
50(/$%DVRIUHOHDVH[
)XQFWLRQJURXSV
0('(6FKHGXOHOLQHVIURP053
(,1/UHOHDVHGRFXPHQWDWLRQ
7DEOHV
(.(7VFKHGXOHOLQHVFUHDWHGE\053PDQXDO%$1)
(.(+VFKHGXOHOLQHVRIWKHGHOLYHU\VFKHGXOH
(.(.KHDGHUGDWDRIDOOGHOLYHU\VFKHGXOHV
(.32LWHPGDWDRIWKHSXUFKDVLQJGRFXPHQWV
)XQFWLRQPRGXOHV
0(B&5($7(B6&+('8/(B'2&&UHDWHV)5&DQG-,7GHOLYHU\VFKHGXOHV
0(B&+(&.B72/(5$1&(
0(B83'$7(B)520B35,17,1*PDNHVDQXSGDWHWRWKHSULQWUHOHYDQWGDWD
0(B83'$7(B6&+('8/(B(.32XSGDWHRIWKHQH[WWUDQVPLVVLRQGDWH
0(B5($'B/$67B5(/($6(
0(B&203$5(B6&+('8/(6
5RXWLQHV6$3/(,1/FDOOHGIURP0(B&5($7(B6&+('8/(B'2&
$1$/<6(B352),/DQDO\VHVWUDQVPLVVLRQSURILOUHJDUGLQJSHULRGLFLW\
%(67,00(1B$%58)B15GHWHUPLQHVUHOHDVHQXPEHU
)8(//(1B.23)FUHDWHVQHZ(.(.UHFRUGV
)8(//(1B(,17(,/81*(1B1(8FUHDWHVQHZ(.(+UHFRUGVUHJDUGLQJDPHQJZLWKRXW5HOHDVH&UHDWLRQ3URILOH
$**5(*,(5(1B(,17(,/81*(1B1(8DJJUHJDWHVVFKHGXOHOLQHV
5HODWHG&RQWHQW
5HODWHG6$31RWHV.%$V
6$31RWH-,7)'6,QFRUUHFWODVW*5GDWHLQGHOLYHU\VFKHGXOH
6$31RWH,QFRUUHFWGDWHIRUODVWJRRGVUHFHLSWLQVFKHG$JUHHPHQW
6$31RWH0(1RVHOHFWLRQZLWK035FRQWUROOHULQ053DUHD
PPSXU
KNRN
&RPPHQWV
*XHVW
9HU\XVHIXOGRFXPHQWDWLRQ
,KDYHIXUWKHUTXHU\ZKLFK,KRSH\RXDUHDEOHWRFODULI\
8QGHU6$3GRFXPHQDWLRQLQWKHFUHDWLRQSURILOH!$JJUHJDWLRQ+RUL]RQ!)RUHFDVWIRUWKHQRDJJUHJDWLRQLWVWDWHWKDWLW
VDSHULRGZKHUHQRDJJUHJDWLRQDUHGRQH7KXVH[SHFWDWLRQZLOOEHLI,
KDYHPXWLSOHVFKHGXOHOLQHVIRUWKHVDPHGDWHWKH\VKRXOGEHVHQWLQPXOWLSOHOLQHV%XWZKHQLXVHWKLVIHDWXUH,KDYHQRVXFKSHULRGLQP\LGRFP\6$KDYHILUP]RQHEXWVWLOOWKHTW\DUH
DJJUHJDWHGLQZHHNO\SHULRG
KWWSZLNLVFQVDSFRPZLNLGLVSOD\(536&06FKHGXOLQJDJUHHPHQWUHOHDVHGRFXPHQWDWLRQ
6FKHGXOLQJDJUHHPHQWUHOHDVHGRFXPHQWDWLRQ(536&06&1:LNL
*XHVW
+L$UPLQGD
YHU\XVHIXOOGRFXHQWDWLRQEXW,DPVWLOODTXHVWLRQDERXWDGXPS,PHWZKHQ,ODXQFKWKH0(
,PHWDGXPSZKHQ,ODXQFKWKHWUDQVFDWLRQ0(WRFUHDWH25'(525'&+*DQG'(/)25PHVVDJH
WKHGXPSHUURUPHVVDJHLV6$364/B$55$<B,16(57B'835(&
DOOWKH,GRFVHHPVEHHQFUHDWHG
,UHPDUNWKDWWKHUHOHDVHQXPEHULQWKHWDEOH(.(7DQG(.(+DUHQRWWKHVDPHDQGWKHUHOHDVHQXPEHUPDNHVQRVHQVDQGGLUHFWO\
ORJLVWLFFRPSRQHQW6$3.+WKHVDSQRWHVHHPVWREHWKHJRRGRQHEXWDQ\FRUUHFWLRQIRUWKLVVXSSRUWSDFNDJH
FRXOG\RXKHOSPH"
7KDQN\RXLQDGDQFH
EHVWUHJDUGV
*XLOODXPHODP\
5RKLW&KDXKDQ
+L
9HU\XVHIXODQGILQHDUWLFOH
,KDYHDTXHVWLRQDURXQG-,7VFKHGXOHUHOHDVH,VWKHUHDQ\ZD\E\PHDQVRIFUHDWLRQSURILOHRUHOVHWRVSOLWEDFNORJRI-,7VFHGXOHGTXDQWLWLHVDVSHUVFKHGXOHOLQHGDWDDQGQRWDJJUHJDWLQJ
WKHP,WULHGFKDQJLQJWKHSURILOHFRQILJEXWHYHU\WLPHWKH-,7LGRFJRLQJWRYHQGRUFRQWDLQVFXPXODWLYHTXDQWLW\IRUWKHEDFNORJ
7KDQNV
%HVW5HJDUGV
5RKLW
&RQWDFW8V
3ULYDF\
6$3+HOS3RUWDO
7HUPVRI8VH
/HJDO'LVFORVXUH
&RS\ULJKW
KWWSZLNLVFQVDSFRPZLNLGLVSOD\(536&06FKHGXOLQJDJUHHPHQWUHOHDVHGRFXPHQWDWLRQ
)ROORZ6&1