Professional Documents
Culture Documents
/%17XQHU
+0
*HQHUDO,2
9
)URQW3DQHO
%XWWRQV3RZHU/('
&38
'HPX[
0K]
$9'HFRGHU
&ORFN
67L
,4'HP RG
608$57
+0
6PDUW&DUG
5HDGHU
03(*
03(*
,&
,58+)VHQVRUV
,&
,&
195$0
/
6'5$0
/XPLQDQFH
69+6<
9*HQ
([W0HP3HU%XV
'5$0
3KRQH/LQH
69LGHR2XW
6YLGHR
/1%3&5
&KURPLQDQFH
69+6&
&RPSRVLWH
&RP S9LGHR
&RP SRVLWH
%XIIHU
9LGHRRXW
9LGHR
)ODVK
)
%XIIHU
'$$
0RGHP
$XGLR7UDS
5&$7/
$ 6&,
&OLSSHU
$&/.
5LJKW
$XGLR'DF
5)RXW
3&0
65$0
6XP
,6
0RGXODWRU
5)LQ
/HIW
7LWOH(FKR6WDU%ORFN'LDJUDP
'UDZQE\ 0'HYULHV&DQDGD
'DWH
'HF
3&%
3:%$(
&RPPHQW:KLOHWKLVEORFNGLDJUDPLVIRUWKHLWLVJHQHUDOHQRXJKWRILWPRVW(FKR6WDUUHFHLYHUVRIDVLPLODUJHQHUDWLRQ
5LJKW$XGLR
/HIW$XGLR
63',)
,5%ODVW
-
-
-
-
-
-
SLQRXW
-
-
'LVK,1
0RGHP
'RE\'LJLWDO
2SLWFDO
6HULDO
69LGHR
$XGLR9LGHR
$&&-DFN
RQO\
8QSRSXODWHGRQ
5)0RGXODWRU
DOOPRGHOV
-
8+)5RPRWH
$XGLR9LGHR
0RGHP
&
$ &'ROE\
9$1
RQO\
&OLSSHU
$6,&
/1%7XQHU
,62
5&$7/
7
'LJLWDO
3RZHU6XSSO\
&
5
6PDUW&DUG
)/$6+
67L
95
-
6PDUW&DUG6RFNHW
' 5$0
-
-
'&8-7$*
26/LQN
/1%3 &5
3:%$(
7LWOH(FKR6WDUUHY&3DUWV/D\RXW
'UDZQE\ 0'HYULHV&DQDGD
'DWH
'HF
3&%
3:%$(
&RPPHQW7KLVLVWKHSDUWVOD\RXWRIWKH(FKR6WDUVDWHOOLWHUHFHLYHUPRGHOVXVHGE\%HOO([SUHVV89LQ&DQDGDDQGE\'LVK1HWLQWKH86$
9
5A
9
([W$GGUHVV%XV
&5A
$
-A
&R[LDO'LJLWDO'ROE\2XWSXW
$
([W'DWD%XV
8
$
&A
$&'ROE\'HFRGHU
'
'
'
7A
Y
'
'
'
'
'ROE\',JWLDO$XGLRRXW
2SWLFDO'LJLWDO'ROE\2XWSXW
6KDUS*3)7
5
'
9
5VW
-
RKP
5VW
([W&WUO%XV
/
)URP'LJLWDO6\V&ORFN
2(:(
9
9
9FF
$
$
$
$
2(
:(
8
$6&
'
$&5$0
'
.[
$
$
$
'
$
'
$
'
$
'
$
'
$
' &(
9VV
$
RU:$$
$
:(
2(
9
$
$
$
$
$
5
$
RKP
4
$
$
'RXW
$
$
9&5,5FRQWURO
.
%ODVWHU
9
$
$
$
9
'
4
5
N
$
$
5
)URP'LJLWDO6\V&ORFN
E\SDVVFDSV
'
9
9
'
'
'
'
'
'
'LQ
-
8+)5HPRWH
5
*QG
7LWOH
(FKR6WDU$&'ROE\$XGLR
'UDZQE\
0'HYULHV&DQDGD
'DWH
)HE
3&%
3:%$(
&RPPHQW
1RWHWKLVVFKHPDWLFZDVGUDZEDVHGRQWKHPLVVLQJSDUWVLQDDQGLV127FRPSOHWHDQGDOVR0$<QRWEHFRUUHFW
9$1
$XGLR&WUO%XV
5.
5
9GG
9
73
9FF
/RXW
0/3,2
&
73
XI9
.
0'3,2
0XWH
1&
5
8
$XGLR
/HIW
/0
6 9FF
'
8
3&0
+&7
3,2
'IOLSIORS
&ON
4
&$3
5
/HIW
&RQYHUWHU
1&
5.
03(*$&&RP SDWLEOH
9$1
7R)URP'LJLWDO
$XGLR
6WHUHR$ XGLR'LJLWDOWR$QDORJ
5
5VW
5
8
1&
3,2
7HVW
0&
73
5
5RXW
&
73
XI9
.
5
3,2
5HVHW
8
$XGLR
5LJKW
/0
73
6&.,3FP&ON,Q
%&.LQ3FP&OFN2XW
9
'LQ3FP'DWD
5
$QDORJ*QG
$XGLR
/5&LQ,U&OFN
5LJKW
,6$XGLR%XV
'JQG
*QG
$JQG
/HIW
9$1
5LJKW
73
02'
&
4
XI9
3&%LVODLGRXWIRUFRPSRQHQWEXWLVSRSXODWHGRQWKHPRGHORQO\
$XGLR
&DEOH,Q
9$1
A3&%LVOD\RXWIRUFRPSRQHQWEXWLVQRWSRSXODWHGLQDQ\RIWKHPRGHOV
1&
9FF
9
0RGXODWRU3RZHU
9
79RXW
9FF
)URP9LGHR
9LGHR
3DJH
9LGHR
&
6
' 84
&DVH
1&
9$1
+&7
'IOLSIORS
&ON
4
1&
5 9VV
9$1
9
5.
7LWOH(FKR6WDU$XGLR
'UDZQE\ 0'HYULHV&DQDGD
'DWH
'HF
3&%
3:%$(
)URP'LJLWDOSDJH
$&&
0RGHORQO\
4
-
&
:DUQLQJ2WKHU3&%YHUVLRQV0$<KDYHGLIIHUHQFHFRPSRQHQWODEHOVRUPD\EHHYHQFRPSOHWHO\GLIIHUHQW
5
$&&-DFN
RKP
9
)URP/1%7XQHU3DJH
9GG 9GGD
6WL3RZHU
IURP9VXSSO\
95
9GF
72
)B%B&ON
1RWH
3FP&ON2XW$&6WE
)B'DWD
3FP'DWD$&'DWD
6RPHSLQVRIWKH$XGLRSRUWKDY HGXDOIXQFWLRQV
GHSHQGLQJRQWKHPRGH,QRQHFDVHWKHSLQVIXQFWLRQ
DVDQ,6GLJLWDODXGLREXV,QWKLVFDVHWKH\XVHWKH
)B(UURU)B3B6WDUW
5
,U&ON$&&ON
)B3B&ON)B'B9DOLG
3&0ODEHO7KHRWKHUPRGHXVHGRQO\E\WKHDQG
2KP
RQO\LIVHOHFWHGLVWKH'RE\$&PRGH,QWKLVFDVHWKH
3FP&ONB,Q
/LQNB([WB&ON
$&B5HJ
$3WV6WE
SLQVXVHWKH$RU$&ODEHO
67L
/XPLQDQFH 6\QF
&URPLQDQFH
67&38'HPX[
&RPSRVLWH9LGHR
$9'HFRGHU
$
$
'
$
'
$
'
$
'
$
'
$
$
'
$
'
$
'
$
'
$
'
:(
1&
5$6
'
'
'
'
&6$
'
&6
'
/'40
&.(
&/.
8'40
9VV'
9VV
3&%LVODLGRXWIRUERWKWZR3RZHU*RRG,&V8DQG87KHVH
WZR,&VKDYHGLIIHUHQWSLQRXWVDQGRQO\RQHZLOOEHSRSXODWHG
3RZHU
9
*RRG
,BUHIB'DFB<&&
$
+V\QF
$
2GGB(YHQ
$
$
$
$
9BUHIB'DFB5*%
$
,BUHIB'DFB5*%
$
26'B$FWLY H
$
0K]B3L[B&ORFN
$
'
'
%UP26/LQN6HO
1RWH
7R6PDUW&DUG3DJH
7R$&3DJH
$XGLR3DJH
9
5HVHW
5
6
7R9LGHRSDJH
9
5
8A
1&
1&
1&
1&
6\V&ORFN
9
1RWH
0.
9LGHRVHFWLRQXVHV9GGD
SRZHU
1&
1&
5
/
5
6PDUW&DUG%XV
3,26&'DWD2XW
'
3,26&'DWD,Q
'
3,26&&ORFN
'
3,26&5HVHW
'
$&[[
$&[[
$&
$&
$&
RQO\
&ON0K]
9LQ
*QG
7R)URP6PDUW&DUG
;
*QG
;
3,26&'HWHFW
<
VKRXOGEHKHOGORZGXULQJUHVHW
0K]
Y LDDUHVLVWRULQRUGHUWRSXW
67LLQWR26/LQN0RGH
,&%XVV
'
1RWH%UP26/LQN6HOSLQ
'
7R7XQHU/1%7XQHU
3,21RSLQ
'
3,26&&PG9FF
'
3,2$6&'LU
8
&RQILJ((3520
'
9
'
1RWH
'
3,2 DUHWKHVDPHSLQ
'
3,2,&0765
'
3,2,&0567
6'&6
3,2,&&ON
/&%
9
9
61
-A
3,2&DSWXUH
6'5$6
6'&$6
3,2&DSWXUH
6':(
0HP&ON,Q&.(
3,2$6&5['
0HP&ON2XW&ON
8A
6'&6
8A
7R$&
6HULDO
61
1&
1&
$&&
7R$XGLR
8E\SDVVFDSV
9
1RWH
9
:3
$
1&
9 8E\SDVVFDSV
9
1&
,5
5HPRWH
'HFWRU
1&
5.
3,2 DUHWKHVDPHSLQ
0'
0/
3,2
3RZHU
3,2
3,2
$
3,2
$
6&/
9FF
6'$
9VV
9 9
,QWHUIDFH
7R6\V&ON
'TPO/GTP
5VW
6\V&ORFN
0.6
3,2
1&
8
1&
73
9FF
9FF
RQO\
9VVDIRULWV
3,2 DUHWKHVDPHSLQ
3,2
8
3,2GRHVQRWH[LVW
'
'TP88GTP
RQO\
$&6WE$&'DWD$&&ON$&5HJ$3WV6WE
$
7R'LJLWDO3DJH
8
9BUHIB'DFB<&&
$
9GG
9GG4
7R$&3DJH
$&$XGLR%XV
8
9
7R$XGLR3DJH
,6$XGLR%XV
9
7UDQVSRUW'DWD6WUHDP
0&
,5
7R$XGLR3DJH
7R$XGLR3DJH
7R9LGHR3DJH
7R$ XGLR3DJH
1&
*QG
9VV
&DVH
9
([W$GGUHVV%XG
26/LQN%XV
8A
9
9
3,226B/LQN'DWD,Q
9FF
9FF
9FF
'
$
$
'
8
$
'
&
$
6\V'5$ 0
$
0[
$
'
'
'
'
$
$
'
1&
$
'
$
'
$
'
$
'
:5:
'
5$65DV&H
'
2(
'
/&$6&DV
9VV
9VV
$
$
9FF
%\WH
6\V)ODVK
$
)
$
$
.[
1&
$
$
'
'
'
'
$
/9
'
$
0[
'
'
'
3,2&38$QDO\VH
$
3,2&38(UURU
WKH26B/LQN\RXPXVW
KROG%5026B/LQNB6HO
3,2
3,2
$
3,2
8A
7R/1%7XQHU
6GDY'DWD
6GDF33&ON
$
26&
$
1&
1&
1UVV&ON
1UVV,Q
$$
26B/LQN'DWD,Q
1&
$
&38(UURU
9
1&
YLHZHGIURPWRS
1&
6HHQWKURXJKKROHLQ
1&
ERWWRPRI5HFHLY HU
1&
-
'&8B-7DJ
5::
2(:(
:(:(
'
9VV
'
1RWHIODVKFWUOQRWGRQH
-WDJ%XV
:DLW
:()ODVK2(
7FON
:($&:(
&DV/&DV
7GL
&DV8&DV
7GR
&(
7 PV
&(
7UVW
5DV&H5DV
7UVW
7 GR
73
9
'
'
'
'
'
1RWH
6WLGRFXPHQWXVHVWKHWHUP$WR$UDWKHUWKDQWKHQRUPDOPHWKRGRI$WR$
OLNHWKHPHPRU\LHWKH\FRXQWIURPUDWKHUWKDQ)RUWKLVUHDVRQ,XVHGWKH
67 LODEHOIROORZHGE\WKHQRUPDOPHPRU\HTXLY DOHQWLQEUDFNHWVLH$[$\
3&%LVODLGRXWIRUDOODGGUHVVOLQHVEXWRQO\DUHXVHGZLWKWKHDQGLQ
WKHZLWKLW
VODUJHUPHPRU\VL]H7 KLVPHDQVLQWKHRU\\RXVKRXOGEHDEOHWRXVH
WKHDSSURSULDWH0[ )/$6+7KLVZRXOGJLYHSOHQW\RIURRPIRU\RXRZQFXVWRP
FRGH
1&
9
%W6UF
'
,54
'
,54
3:%$(
'
,54
+,17
0RGHPULQJGHWHFW
7R0RGHP $&3DJHV
9LHZIURPWKHERWWRP
)URP 0RGHP3DJH
9
'
'
'
'
3,2
&KDQB'RZQ
6
'
'
3,2
&KDQB83
6
'
'
3,2
'
3,2
'
3,2
'
3,2
//&
96HO
(QW
5HVHW
5HVHW
Y
7R/1%7XQHU
7R0RGHP
9
1RWH
7R$XGLR
7LWOH(FKR6WDU'LJLWDO
3&%
'
/('LQGLFDWHVWKDWWKHV\VWHPLV
DFWLYHUDWKHUWKDQSRZHUHGXSDV
8
-DQ
7PV
3,2
3,2
'DWH
3,2
'
3,2
'UDZQE\ 0'HYULHV&DQDGD
7FON
1&
2-
'
7GL
7PV
5
'
7FON
([W'DWD%XV
7GR
7GL
%UP%RRW)URP5RP
'
5VW
5VW
%UP
2(
7 UVW
&(
([W&RQWURO%XV
'
&(
26B/LQN'DWD2XW
$
$
5A
DVVXPHV;;
$
&385HVHW
&38$QDO\VH
$
6GDY&ON3&ON
1&
5A
8A
$
8A
SLQRQWKHGLJLWDO
$
1UVV2XU
5<%<
'
-
26B/LQNA
GXULQJUHVHW
$
5A
1RWH,QRUGHUWRDFFHVV
$
'
$
$
$
3,2&385HVHW
$
3,226B/LQN'DWD2XW
$
$
'
'
$
'
$
1&
'
'
$
'
$
$
$$
'
$
'
9VV
8
8&$6&DV
5HVHW
$
WKHV\VWHPLV$/:$<6SRZHUHG
XS
9VV 9VVD
3&%LVODLGRXWIRUFRPSRQHQWEXWLVSRSXODWHGRQWKHPRGHORQO\
A3&%LVOD\RXWIRUFRPSRQHQWEXWLVQRWSRSXODWHGLQDQ\RIWKHPRGHOV
:DUQLQJ2WKHU3&%YHUVLRQVPD\KDYHGLIIHUHQWFRPSRQHQWODEHOVRUPD\EHHYHQEHFRPSOHWHO\GLIIHUHQW
/1%3RZHU9
&5
9
6KHLOG
6KHLOG
95
/1%3&5
9
9/1%
9FF
$RXW
9FF
%RXW
"
7R'LJLWDO3DJH
3,2
3,2
3,2
+0
1&
1&
95I
9VHO
&
5
//&
2VHO
/
&
&
5
5
&
5I
4
"
/1%
&
&
1&
*QG
&5
&
"
&H[W
"
(QW
9
95
([WP
8
5
1&
"
&
"
9
&
5)3RZHU
95
/
&
X/LQH
9/1%
9/1%
9/1%
5
9/1%
5
"
5
9
&
5
9/1%
$
"
$
5
$
9
$
7R'LJLWDO
3,2
9
9RXWVLGHVKLHOG
$
5HVHW
,&%XV
&
8
7UDQVSRUW'DWD6WUHDP
8
63 6
&
/1 %3//
+0
7R'LJLWDO
9
&KDUJH3XPS
5
5
'DWD
/5
/5
/5
)%&ON
)'DWD
3//(QDEOH
5
5
5"
3//'DWD
)(UURU
)'9DOLG 3//&ORFN
"
"
<
"
&
&
&ORFN
/5
5
$
$
7R'LJLWDO
&
5
5
5"
5"
5
5
(QDEOH
'ULY H
5
'DWD
&ORFN
5HI
&
&
5
6KHLOG
6KHLOG
9
7LWOH(FKR6WDU/1%WXQHU
+0%\SDVV&DSV
WR9
WR9LQVLGHVKHLOG
/
'UDZQE\ 0'HYULHV&DQDGD
'DWH
)HE
3&%
3:%$(
&RPPHQW'UDZQZLWKRXWWKHDLGRIGDWDVKHHWVVR,KDGQRZD\WRFURVVFKHFNDVDUHVXOWGRQ
WDVVXPHDQ\WKLQJRQWKLVSDJHLVFRUUHFW
9
9
9
9
8E\SDVV&DSV
ELW$WR'
7R'LJLWDO
5LQJ'HWHFW
7 3
5
9FF
8
/0
5
9
/0
&
9VV
8
5
,62
5
73
9
3&
(&*
&5
5
9FF
5,1*
+',6
([ W&RQWRUO%XV
([ W'DWD%XV
-
8
$
/
$
$
&5
&5
73
,'/(1
$&
10,
([ W$GGUHVV%XV
&5
$&
5;$
5&$7/
7
(PEHGGHG0RGHP
SLQ3/&&
:7
7;$
5'
5
&
73
'
9
3,2
4
5
7 3
73
73
&
'
'
5
2+UHOD\
195&6
195',2
1956.
$*&,1
7 HVW
5),/2
/
9GF
7 3
4
5
57
.
5HVHW
;7/
<
&
'
&$6(
1&
'
9
7 ;$
'
'
73
'
.
4
&5
7 KHVHSLQVDUHMXVWORRSHGEDFN
&
&
0K]
9&
;7/
,'/(1
7R'LWLDO
$&3DJHV
,54SLQ
&
+,17
5
7LWOH(FKR6WDU0RGHP
'UDZQE\ 0'HYULHV&DQDGD
'DWH
-DQ
3&%
$(
)
$6ORZ
/
&5
&
/
&
&5
7
&
&5
a9GF
-
9GF
/
9DF
&5
1
&5
&
5
5
0
0
&5
&5
9GF
/
a9GF
5
5
RKP
RKP
&5
5
.
3&%7HVWSRLQW
&'
9GF
/
7
7/
9FF
26&
&RQWURO
9,3HU
,62
5 $ &
6WL3RZHU
95
5
&<1)
5
5
9GF5HJXODWRU
(&*
9GF
72
345'"
&
9GF
9$1
$XGLR9LGHR3RZHU
9GF
&5
9GF
/
/
&5
6WL3RZHU
95
9GF
7LWOH(FKR6WDUUHY&3RZHU6XSSO\
'UDZQE\ 0'HYULHV&DQDGD
'DWH
3&%
'HF
3:%$(
:DUQLQJ2WKHU3&%YHUVLRQVPD\KDYHGLIIHUHQWFRPSRQHQWODEHOVRUPD\EHHYHQEHFRPSOHWHO\GLIIHUHQW
9GF
9
7R'LJLWDOSDJH
9
6PDUW&DUGEXVV
8
+&7
5
6&'HWHFW
-
9
8
6PDUW&DUG6RFNHW
+&7
9
&5
5
1&
6&75;'3,2
5
RWKHURI8LVXVHGIRU
1&
SRZHU/('RQGLJLWDOSDJH
5
9
9
8
+&7
6&&ON
5
5
1&
&5
5
6&&/.
9
&5
1&
9FF
5
*QG
5HVHW
&ON
6&5HVHW
,2
*1'
9
&5
9
6&9FF
9
&5
7R'LJLWDOSDJH
5VW
8
8
8
+&7
+&7
+&7
1&
73
5
&
1RWH
6&'HWHFW
1&
6PDUW&DUG
6PDUW&DUG'HWHFW6ZWLFK
(DFKWLPH\RXSXWLQWKHVPDUWFDUG\RXZLOOSXOVHWKH5VWOLQHORZ
&ORVHGZKHQFDUGLVLQVHUWHG
SDUWRIVRFNHW
7LWOH
(FKR6WDU6PDUW&DUG5HDGHU
'UDZQE\
0'HYULHV&DQDGD
'DWH
-DQ
3&%
3:%$(
:DUQLQJ
2WKHU3&%YHUVLRQVPD\KDYHGLIIHUHQWFRPSRQHQWODEHOVRUPD\EHHYHQEHFRPSOHWHO\GLIIHUHQW
9
0RGXODWRU3RZHU
9
5
4
/
0RGXODWRU3RZHU
73
5
7R$XGLR3DJH
)/
:
73
9$1
9$1
9$1
&
9LGHR
&
/
&RPSRVLWH9LGHR
/6
4
4
5
5
9LGHR
9$1
9
7R'LJLWDO3DJH
9
4
5
9LGHR
9
9$1
9$1
9$1
7 3
73
4
&
7 3
&
4
5
5
/
/XPLQDQFH 6\QF
9$1
7 3
9
9$1
9$1
-
9
9
9$1
69LGHR2XW
73
9
&URPLQDQFH
4
&
7 3
&DVH
&
4
5
5
7LWOH
(FKR6WDU9LGHR
'UDZQE\
0'HYULHV&DQDGD
'DWH
'HF
3&%
3:%$(
:DUQLQJ
2WKHU3&%YHUVLRQV0$<KDYHGLIIHUHQFHFRPSRQHQWODEHOVRUPD\EHHYHQFRPSOHWHO\GLIIHUHQW
/
&URPLQDQFH
9
9
9
5
5
,5
'HWHFWRU
5
&5
&5
&5
&5
6
6
6
6
,QIR
0HQX
/HIW
8S
&5
6
'RZ
Q
&5
&5
&5
6
6
6
5LJKW
6HOHFW
3RZHU
5
'6A
'6
3RZHU
3RZHU
4
5
/
5
&
1&
1&
4
5
4
5
1RWH
'6
7 KH,5%SRZHUFLUFXLWLVQRWSRSXODWHGRQWKHXQLW,WRRNDSDUW
,VSHFXODWHWKDWLWLVDQ,5%ODVWHUWRFRQWURODQ,5&RQWUROOHG9&5
,5%
3RZHU
'6
7LWOH(FKR6WDU)URQW3DQHO3&%
'UDZQE\
0'HYULHV&DQDGD
'DWH
)HE
3&%
3:%$$
:DUQLQJ2WKHU3&%YHUVLRQV0$<KDYHGLIIHUHQFHFRPSRQHQWODEHOVRUPD\EHHYHQFRPSOHWHO\GLIIHUHQW
)XVH
$6ORZ
/
&5
&
/
&5
9GF
/
&
&5
-
9DF
&5
1
&5
9GF
/
&5
&
4
,5)%('
9
/
'
&5
*
1RWH
9
,RULJLQDOO\GUHZXSWKHVFKHPDWLFRIWKH
SRZHUVXSSO\,WKHQVWDUWHGWKHSRZHU
&
VXSSO\ZKLFKZDVMXVWJRLQJWREHDFRS\RIRQH
5
,GRZQORDGHGIURPWKH=DFK\ILOHVQHW,ZDVRQO\
9
5
DIHZPLQXWHVLQWRWKHSRZHUVXSSO\ZKHQ,
UHDOL]HGWKDWWKHDQGKDGWKHVDPH
4
,62
9
8
/0
1&
SRZHUVXSSO\WKHRQO\GLIIHUHQFHEHLQJWKH
5
9UHI
5
9
ODEHOV$VLWZDVDVLPSO\PDWWHUWRFRS\DQGMXVW
4
8
5
95
/0
/0
UHODEHOWKDW
VZKHQ,GLG$Q\ZD\VLQFHWKHWZR
3)
VXSSOLHVDUHWKHVDPH,
PJXHVVLQJWKDWPRVWLI
QRWDOOWKH(FKR6WDUUHFHLYHUVZKLFKXVHGD
VHSDUDWHSRZHUVXSSO\XVHSUHWW\PXFKWKHVDPH
VFKHPDWLF
5
4
5
9
9
9GF
&5
7LWOH(FKR6WDU3RZHU6XSSO\
5
'UDZQE\ 0'HYULHV&DQDGD
'DWH
0DU
3&%
$+
&RPPHQW0RVW(FKR6WDUVZLWKVHSDUDWH3RZHU
5
&5
9
/
4
&5
VXSSOLHVPD\XVHWKHFLUFXLWZLWKRQO\WKHODEHOVEHLQJ
GLIIHUHQW
/
-
-
-
-
&RQ
0RGHP
$X[-DFN
2SLWFDO
5&$$XGLR9LGHR
69LGHR
XQSRSXODWHG
3&
5)LQ
5)0RGXODWRU
$&,Q
$XGLR9LGHR
6KHLOGHGER[
0RGHP
=
/1%781(5
3/
5;'7;'
%X]]HU
7&
'LJLWDO
3/
FDQQRWGRXQWLO,ILQGWKHGDWDVKHHWV
7 UDQVSRUW6WUHDP2XW
7;
3 RZHU6XSSO\
/,6/RJLF
6&
6&+
3:%
&5
6PDUW&DUG
6PDUW&DUG6RFNHW
,5'HWHFWRU
,5%ODVWHU
,5%ODVWHU
3RZHU
&KDQ'RZQ
6WDQGE\
&KDQXS
' LJLWDO,2
7LWOH(FKR6WDU'33DUWV/D\RXWZLWK6&SURFHVVRU
'UDZQE\ 0'HYULHV&DQDGD
'DWH
0DU
3&%,GHQW 3:%6&+
&RPPHQW7KLVLVWKHSDUWVOD\RXWRIWKH(FKR6WDUVDWHOOLWHUHFHLYHUPRGHOXVHGE\%HOO([SUHVV89LQ
&DQDGDDQGPRGHO'3XVHGE\'LVK1HWLQWKH86$
)$9DF6ORZ
/
)%
'
/
'
&
'
7;
a9
$&,1
&
3/
9GF
/
6DI
9DF
1
'
'
)%
&
'
/
75
a9
5
5
5
7 5
'
5
'
5
1RWH
'
5
9GF
1RWH$VWKLVGUDZLQJZDVGRQHIURPD
,QHHGLQIRUPDWLRQ
RQWKLVSDUW
ZRUNLQJXQLW,GLGQ
WZDQWWRUHPRYHWKH
a9
PDLQWUDQVIRUPHU7KLVLVZK\,
YHGUDZQ
DOOWKHRXWSXWVDVRQHVHWRIZLQGLQJ
1RUPDOO\WKHUHZLOOPRUHWKDQRQHVHW
9FF
8&%
75
+675
6ZLWFKLQJ9ROWDJH
&RPS
'ULY H
,5)
5HJXODWRU
*
6
5
6HQVH
1RWH
9UHI
,DVVXPHGWKH
IROORZLQJSLQRXWV
9GF
'
/
'
'
5
5
/
9UHI
9GF
'
'
75
75
2VF
95HI2XW
9UHI
+6'
/
*QG
9GF
&
75
,&
/0
9GF
9
5
&
,62
'LRGH
75
7RIURQWSDQHOFRQWURO
7LWOH
(FKR6WDU'33RZHU6XSSO\
'UDZQE\
0'HYULHV&DQDGD
'DWH
0DU
3&%,GHQW
3:%6&+
:DUQLQJ
1HHGLQIRUPDWLRQRQ75LQRUGHUWRFOHDQXSWKHFRQWUROFFW
9
,&
5
9GF
7/
)XVH
$6ORZ
/
&5
&
/
&5
9GF
/
&
&5
-
9DF
&5
1
&5
7
&
9GF
/
&5
4
,5)%('
9
/
'
&5
*
1RWH
6
WRSLQRI7
9
,RULJLQDOO\GUHZXSWKHVFKHPDWLFRIWKH
SRZHUVXSSO\,WKHQVWDUWHGWKHSRZHU
&
VXSSO\ZKLFKZDVMXVWJRLQJWREHDFRS\RIRQH
5
,GRZQORDGHGIURPWKH=DFKILOHVQHW,ZDVRQO\
DIHZPLQXWHVLQWRWKHSRZHUVXSSO\ZKHQ,
9
5
4
UHDOL]HGWKDWWKHDQGKDGWKHVDPH
,62
9
8
/0
1&
SRZHUVXSSO\WKHRQO\GLIIHUHQFHEHLQJWKH
5
9UHI
5
9
ODEHOV$VLWZDVDVLPSO\PDWWHUWRFRS\DQGMXVW
4
8
5
95
/0
/0
UHODEHOWKDW
VZKHQ,GLG$Q\ZD\VLQFHWKHWZR
3)
VXSSOLHVDUHWKHVDPH,
PJXHVVLQJWKDWPRVWLI
QRWDOOWKH(FKR6WDUUHFHLYHUVZKLFKXVHGD
VHSDUDWHSRZHUVXSSO\XVHSUHWW\PXFKWKHVDPH
VFKHPDWLF
5
4
5
9
9
9GF
/
WR&"
&5
5
7LWOH
(FKR6WDU3RZHU6XSSO\
'UDZQE\
0'HYULHV&DQDGD
'DWH
0DU
3&%
8QNQRZQ
&RPPHQW
%DVHGRQDGUDZLQJDW:::=DFKHU\)LOHV
5
&5
9
/
4
&5
-
%&
-
-
-
-
69LGHR
9LGHR
5LJKW
-
%&
1
/HIW
$&3RZHULQ
0RGXODWRU
$XGLR9LGHR
0RGHP
/1%7XQHU
'LJLWDO
7
%)5
*QG*QG
7;5;
&
67L
-7$*
5&$7/
3RZHU6XSSO\
6B567
7567
7',
706
7&.
7'
*QG
2
7
/+)67
26)ODVK5RP
)&(
)3
6PDUW&DUG
.
.
/1%3RZHU
7LWOH
5&$'5'3DUWV/D\RXW
'UDZQE\
0'HYULHV&DQDGD
'DWH
0DU
3&%,GHQW
WKLVFRXOGEHZURQJ
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
0'
2(
0'
0'
0'
3RZHUJRRG
$
8+)"
-
.
9
+RZ,
PWROGWKH$9-DFNVDUHDUUDQJHG
9FF
.
.
8
1&
/HIW
/0
1&
69LGHR
1&
5LJKW
9LGHR
.
9
-
-
-
-
$XGLR
5LJKW
8
XI9
.
$XGLR
.
7R'LJLWDO3DJH
/0
/HIW
.
,6'LJLWDO$XGLR%XV
/HIW
6'DWD
OHIWDQDORJDXGLR
8
&LUUXV/RJLF
'HP6&ON
9
&6
.
7 RXQGHUVKLHOGRI0RGXODWRUFLUFXLW
.
/5&ON
0&OFN
ULJKWDQDORJDXGLR
5LJKW
.
XI9
.
8
$XGLR
/0
5LJKW
.
*QG
7LWOH
5&$'5'$XGLR
'UDZQE\
0'HYULHV&DQDGD
'DWH
0DU
3&%,'
3&%,'FRXOGHDVLO\EHZURQJ
&RPPHQW
%RWK,&VRQWKLVSDJHKDGLQKRXVH31V%DVHGRQSLQRXWDQG
IXQFWLRQDOLW\,
YHKDGWRJXHVV317KLV31FRXOGEHZURQJEHFDUHIXO
3DUWVZLWKD
ZHUHQRWSRSXODWHGRQWKHVDPSOHWKLVGUDZLQJZDVPDGHIURP
$XGLR
.
/HIW
9
.
8
/0
.
.
9
,6$ XGLR%XV
)URP/1%7XQHU3DJH
9GG 9GGD
9
)B%B&ON
3FP&ON2XW$&6WE
)B'DWD
3FP'DWD$&'DWD
)B(UURU)B3B6WDUW
1RWH
)B3B&ON)B'B9DOLG
8
:KLOHWKHDXGLRSRUWRIWKH67LVXSSRUWV
ERWKVWDQGDUGVWHUHRYLDWKH,6GLJLWDODXGLR
EXVDQG'ROE\GLJLWDOYLDWKH$&EXVWKH
5&$'5'RQO\VXSSRUWVVWDQGDUGDXGLR
,U&ON$&&ON
$&7
/LQNB([WB&ON
$&B5HJ
1&
/XPLQDQFH 6\QF
&URPLQDQFH
67&38'HPX[
&RPSRVLWH9LGHR
$9'HFRGHU
9GG4
$
9GG
'
$
'
$
'
$
'
$
'
$
'
$
'
$
'
$
'
$
'
$
'
:(
'
$
1&
5$6
'
'
&6$
'
&6
'
/'40
&.(
&/.
8'40
9VV'
9VV
9
1&"
7R'LJLWDO
7R'LJLWDO
+V\QF
$
$
2GGB(YHQ
$
$
$
$
9BUHIB'DFB5*%
$
,BUHIB'DFB5*%
$
26'B$FWLY H
$
0K]B3L[B&ORFN
1&"
)URQWSDQHO
$
'
'
%UP26/LQN6HO
1RWH
7R9LGHRSDJH
<
8
1&
1&
1&
1&
1&
0K]
$&7
1RWH
9LGHRVHFWLRQ
XVHV9GGD
9VVDIRU
9
LWVSRZHU
1&
6PDUW&DUG%XV
7R)URP6PDUW&DUG
3,26&'DWD2XW
3,26&'DWD,Q
'
3,26&&ORFN
'
3,26&5HVHW
'
3,26&'HWHFW
SXW67LLQWR26/LQN0RGH
7R7XQHU/1%7XQHU
,&%XVV
&RQILJ((3520
:&
'
'
9
8
9
3,21RSLQ
'
3,26&&PG9FF
'
3,2$6&'LU
'
9
'
1RWH
'
3,2 DUHWKHVDPHSLQ
9
9FF
6'$
$
6&/
$
:3
$
8
$&7
9VV
,5
'
3,2,&0765
'
3,2,&0567
6'&6
3,2,&&ON
7RXQGHUWKH67L
5HOLHI
6'&6
6'5$6
3,2&DSWXUH
6'&$6
3,2&DSWXUH
6':(
0HP&ON,Q&.(
3,2$6&5['
0HP&ON2XW&ON
9
1&
9
5
5[
9
5
*QG
1RWH
3,2GRHVQRWH[LVW
8
7R'LJLWDO
'TPO/GTP
'TP88GTP
,55HP RWH'HFWRU
3,2 DUHWKHVDPHSLQ
3,2
3,2
3,2 DUHWKHVDPHSLQ
'
5VW
3,2GRHVQRWH[LVW
'
65VW
1&"
$
,BUHIB'DFB<&&
9BUHIB'DFB<&&
$
1&
8
67L
9
3FP&ONB,Q
$3WV6WE
7R$XGLR3DJH
7UDQVSRUW'DWD6WUHDP
3,2
&KURP(QDEOH
3,2
3,2
$&7
1&
7R9LGHR
9
,5
+RPH1HWZRUN"
5
7R0RGXODWRU
/
/
7R0RGXODWRU
8$&7
8+)UHPRWHLQ"
)URP0RGXODWRU
6GDY&ON3&ON
9
8
9FF
'
6\V'5$ 0
'
0[
5:
6GDY'DWD
:DLW
6GDF33&ON
1&
)&(
1&
9
-
&DV
&DV
3,226B/LQN'DWD,Q
&(
3,226B/LQN'DWD2XW
&(
3,2&385HVHW
&(
3,2&38$QDO\VH
5DV&H
3,2&38(UURU
9
2(
3,2
3,2
:(
9VV
26&
:(
3,2
)URP/1%3RZHU
1&
$$
9
$
$
%\WH
9FF
8
266\V)ODVK
1&
/9
$
1UVV,Q
$
1UVV2XU
1&
1&
7R'LJLWDO
1&
$
$GG%XV
&WUO%XV
1UVV&ON
9
0[
9VV
$
3,2ERWWRPULJKWRIWKLVSDJH
'DWD%XV
$
%)5
$
%UP
$
1&
-7DJ
%UP%RRW)URP5RP
$
DVVHHQIURP
WRS
$
7FON
$
7GL
$
7 GR
$
7R0RGHP
7PV
$
7 UVW
6B567
9
7',
706
7&.
$
9
%\WH
9FF
7'2
$
$$
7'2
8
26520
0;)$
&RXOGEHUHSODFHGZLWK)ODVK
,54
,54
,54
3,2ERWWRPULJKWRIWKLVSDJH
1RWH
7KHUHDUHVPDOOYDOXHUHVLVWRUVEHWZHHQRKPWR.WKDWVLWEHWZHHQWKH67 L
DQGWKHDGGUHVVGDWDFRQWUROEXVRQZKLFKWKHPHPRU\VLWV5DWKHUWKDQSODFHWKHP
RQWKHEXVLWVHOI,
YHMXVWSODFHGWKHUHUHVLVWRUODEHOEHKLQGWKH67LSLQ,QPRVW
FDVHVWKHVHUHVLVWRUVKDYHD31LQWKHIRUPRI51
RUKDY HQRODEHODWDOO
7LWOH
'UDZQE\
706
7',
7567
8$&7
((3520(3520RIVDPHSLQRXW
)3
7&.
-WDJ%XV
0[
9VV
7R'LJLWDO
7567
5&$'5''LJLWDO
0'HYULHV&DQDGD
3RZHU8S
)URP 3RZHU6XSSO\
3RZHU8S
7R0RGHP
'
'
'
'
3,2
9ROW6HOHFW
0RGHP
5HVHW
7R/1%3RZHU
8$&7
'
9
3,2
'
5LQJ'HWHFW"
)URP0RGHP
'
'
3,2
'
3,2
'
3,2
'
3,2
'
3,2
'
3,2
'
2Q+RRN"
9
7RXQSRSXODWHHGSDUWVQHDU69LGHR+RPH1HWZRUN
7 KLVFFWXQGHU
7[
'
*QG
'
'DWH
0DU
3&%,'
3&%,'FRXOGHDVLO\EHZURQJ
7R0RGHP
VPDUWFDUGVRFNHW
7R26520
1RWH7KLVUHVLVWRUPLVVLQJ
9VV 9VVD
7R26)ODVK
/1%9
/1%9
9
.
5
4
8
8
/0
/0
9
5
.
/1%3RZHURXW
5
.
9ROW6HOHFW3,2
)URP'LJLWDO
.
9
9
9
9
/1%9
/1%9
9
8
9
8
/0
/0
9
3,2
)URP'LJLWDO
.
7LWOH
5&$'5'/1%3RZHU
'UDZQE\
0'HYULHV&DQDGD
'DWH
0DU
3&%,'
"3&%,'FRXOGHDVLO\EH
ZURQJ
9
3,2
7R'LWLDO
9
([ W$GGUHVV%XV
10,
([ W&RQWRUO%XV
7R'LJLWDO
([W'DWD%XV
9
9FF ,'/(1
$
2+UHOD\
$
8
$
5&$7/
0RGHP
3,2
7R'LWLDO
1&
9
1&
1&
1&
'
5,1*
)%
)
5
7KHVHSLQVDUHMXVWORRSHGEDFN
'
'
5;$
' 1&
-
&5
&5
7
7 ;$
5HVHW
&5
+',6
&5
7;$
195&6
&$6(
195',2
/
1956.
$*&,1
7HVW
5),/2
;7/
<
'
FDQRQO\JXHVVHGDWWKHZKDWWKLVSDUWLV
'
'
7
5'
'
SLQ3/&&
1RWH7KHUHZDVQRSDUWQXPEHURQWKLVVR,
8
5
0K]
;7/
9&
9
8
,'/(1
7R'LWLDO
,54SLQ
+,17
ELW$WR'
9FF
7R'LWLDO
3,2
/0
3&
8
.
(&*
)URP'LWLDO
8
%05
/0
9VV
7LWOH
5&$'5'0RGHP
'UDZQE\
0'HYULHV&DQDGD
'DWH
0DU
3&%,'
"3&%,'FRXOGHDVLO\EHZURQJ
%&
-:
)
""$6ORZ
&
57
/
&5
&5
9GF
/
/
a9DF
9DF
&5
%&
&5
&5
57
7
1RWH,GRQ
WKDYHWKHULJKWV\PEROIRU
DWKHUPLVWHUVR,
YHGUDZQLWDVD
&
9GF
YDULDEOHUHVLVWRU
&5
a9GF
9
/
'
9GF
&5
4
9
5
1RWH
&RPSRQHQWLVODEHOHGDVDQLQGXFWRU
4
EXWDSSHDUVWREHD2KPUHVLVWRU
036$
4
9
1
5
9
&
9
9GF
9
5
5
5
/
&5
9
9
5
9
1RWH
7KHVHSDUWVDUH127
ODEHOHGRQ3&%
4
9
9
3RZHU8S
7RGLJLWDO
8RU8
4
8
7/&
7LWOH
5&$'5'3RZHU6XSSO\
'UDZQE\
0'HYULHV&DQDGD
'DWH
0DU
3&%,'
QRWHWKLV,'FRXOGEHZURQJ
9
Y
7RIURP 'LJLWDOSDJH
6PDUW&DUGEXVV
Y
9''
5)8
9''3
-
&ON'LY
6PDUW&DUG6RFNHW
6&'HWHFW
"
0LFUR,2
6
6&9FF
&
8
7'$7
6
0LFUR2II
6&5HVHW
6&&ON
6&5HVHW
0LFUR5VW,Q
&
6&&ON
0LFUR,2
9FF
&
*QG
5HVHW
Y
&ON
*1'
0LFUR&0'9FF
,2
&
6PDUW&DUG
&
&
1&
6&75;'
6&,2
0LFUR,2
&
Y
6&3UHV
9XS
&ON'LY
*QG3
&
.
6&3UHV
*QG
6PDUW&DUG'HWHFW6ZWLFK
6&*QG
&ORVHGZKHQFDUGLVLQVHUWHG
SDUWRIVRFNHW
.
3DUWZDVPLVVLQJIURP3&%
,
PDVVXPLQJLW
VDFDSDFLWRU
7LWOH
5&$'5'6PDUW&DUG
'UDZQE\
0'HYULHV&DQDGD
'DWH
0DU
3&%,'
WKLVFRXOGEHZURQJ
2KP
9
3DUWRIPRGXODWLRQFLUFXLW
3DUWRI0RGXODWRUFFW
9FF
9LGHR
$
5
%RWWRP
5
8
/0
/
2KP
9
8
/0
/
/
9LGHR
&
&RP SRVLWH9LGHR
5
5
5
5
7RS
6HW&
2KP
8
/0
%
/XP LQDQFH
)URP'LJLWDO
/
/;;
6HW$% '
/XPLQDQFH 6\QF
-
2KP
69LGHR2XW
&DVH
8
/0
/
/
&KURPLQHQFH
'
&KURPLQHQFH
9VV
5
5
9
3,2&KURPLQHQFH(QDEOH
)URP'LJLWDO
7LWOH
5&$'5'9LGHR
'UDZQE\
0'HYULHV&DQDGD
'DWH
0DU
3&%,'
"3&%,'FRXOGHDVLO\EHZURQJ
&RPPHQW
:LWKRQO\LQKRXVHPDUNLQJRQWKH9LGHR2S$PS,FDQRQO\JXHVVDWWKHSQ7KHUHIRUHZKLOHWKH/0ILWVERWKSLQRXWDQG
IXQFWLRQDOLW\,FDQQRWSURPLVHWKDWWKLVWKHFRUUHFWSQWKHUHDUHRWKHUSLQTXDGRSDPSVWKDWPLJKWEHEHWWHUVXLWHG