Professional Documents
Culture Documents
&RQWHQWV ,1&$51$7,21
)RUHZRUGE\-DFN&DQILHOG
3UHIDFH
,QWURGXFWLRQ
/,)(7+(0(6,1180(5,&$/25'(5
7KH3HUVRQDO/LIH7KHPHRI'LUHFWLRQWKH6SKLQ[
7KH)L[HG/LIH7KHPHRI&UHDWLYH6HOIH[SUHVVLRQ
7KH,QWHUSHUVRQDO/LIH7KHPHRI'HILDQFH
7KH3HUVRQDO/LIH7KHPHRI'LUHFWLRQWKH6SKLQ[
7KH)L[HG/LIH7KHPHRIWKH'ULYHU
7KH,QWHUSHUVRQDO/LIH7KHPHRI'HILDQFH
7KH3HUVRQDO/LIH7KHPHRIWKH/DZV
7KH)L[HG/LIH7KHPHRI0XWDWLRQ,QQRYDWLRQ
7KH,QWHUSHUVRQDO/LIH7KHPHRI:LVKHV
TXLFNO\EDFNLQWRWKHLUKDELWXDOSDWWHUQV 7KH3HUVRQDO/LIH7KHPHRI([SODQDWLRQ
)RUHYHU \RX DUH GUDZQ WRZDUG \RXU RZQ SHUFHSWLRQ RI WKH WUXWK 7KURXJK 7KH)L[HG/LIH7KHPHRI6ROXWLRQV)RUPXODWLRQ
\RXUDELOLW\WRDFFHVVWKHȐVRXQGVZLWKLQWKHVLOHQFHȑȉWKHYLEUDWLRQVRIOLYLQJ 7KH,QWHUSHUVRQDO/LIH7KHPHRIWKH5HEHO5HYROXWLRQ
WKDW \RX LGHQWLI\ LQ \RXU RZQ SDUWLFXODU DQG HYHQ P\VWLFDO ZD\ ȉ \RX DUH
H[SRVHGWRVRPHRIWKHPRVWSURIRXQGDVSHFWVRIOLIH7KLVDELOLW\ZLOOHYHQWXDOO\
UHYHDOWKDWRWKHUVGRQRWDSSUHFLDWHOLIHLQWKHVDPHZD\WKDW\RXGR<HWZKHQ
\RXSD\DWWHQWLRQWR\RXU7\SHDQG$XWKRULW\\RXZLOOILQGRSHQLQJVZKHUH\RX 7KH3HUVRQDO/LIH7KHPHRI&RQVFLRXVQHVV
FDQUHODWHWUXO\DPD]LQJLQVLJKWVDQGSHUFHSWLRQVWKDWVKDWWHULOOXVLRQVDQGVKLQH 7KH)L[HG/LIH7KHPHRI5LWXDOV+DELWV
DSHQHWUDWLQJOLJKWZKHUHLWLVEDGO\QHHGHG%URDGFDVWLQJZKDW\RXSHUFHLYHWR 7KH,QWHUSHUVRQDO/LIH7KHPHRI6HSDUDWLRQ
HYHQ D OLPLWHG DXGLHQFH FDQ EULQJ \RX JUHDW VDWLVIDFWLRQ +RZHYHU ZKHWKHU RU
QRW RWKHUV XQGHUVWDQG QHYHU ORVH WUDFN RI WKH LPSRUWDQFH RI PDLQWDLQLQJ \RXU
RZQEDODQFHDQGVHOIDSSUHFLDWLRQ
7KH3HUVRQDO/LIH7KHPHRIWKH*DUGHQRI(GHQ
7KH)L[HG/LIH7KHPHRI&RQIOLFW5HVROXWLRQ
7KH,QWHUSHUVRQDO/LIH7KHPHRIWKH(DUWK3ODQH
7KH3HUVRQDO/LIH7KHPHRI'LUHFWLRQWKH6SKLQ[
7KH)L[HG/LIH7KHPHRI,QWHUDFWLRQ
7KH,QWHUSHUVRQDO/LIH7KHPHRI&KDUDGHV0DVNV
7KH3HUVRQDO/LIH7KHPHRI7UDQVIHUHQFH&RQWDJLRQ
7KH)L[HG/LIH7KHPHRI&RQWULEXWLRQ
7KH,QWHUSHUVRQDO/LIH7KHPHRI8QFHUWDLQW\
7KH3HUVRQDO/LIH7KHPHRI3ODQQLQJ
7KH)L[HG/LIH7KHPHRI)RFXV
7KH,QWHUSHUVRQDO/LIH7KHPHRI,GHQWLILFDWLRQ
7KH3HUVRQDO/LIH7KHPHRIWKH9HVVHORI/RYH
7KH)L[HG/LIH7KHPHRI2SSRUWXQLWLHV%HKDYLRU
7KH,QWHUSHUVRQDO/LIH7KHPHRI3UHYHQWLRQ
6XQLQ*DWH
7KH3HUVRQDO/LIH7KHPHRIWKH*DUGHQRI(GHQ 7KH)L[HG/LIH7KHPHRI,178,7,21
7KH)L[HG/LIH7KHPHRI,GHDV
7KH,QWHUSHUVRQDO/LIH7KHPHRI(GXFDWLRQ
7KH3HUVRQDO/LIH7KHPHRIWKH*DUGHQRI(GHQ
7KH)L[HG/LIH7KHPHRI&DXWLRQ$UWLFXODWLRQ
7KH,QWHUSHUVRQDO/LIH7KHPHRI(GXFDWLRQ
7KH3HUVRQDO/LIH7KHPHRI'LUHFWLRQWKH6SKLQ[
7KH)L[HG/LIH7KHPHRI/LVWHQLQJ
7KH,QWHUSHUVRQDO/LIH7KHPHRI&KDUDGHV0DVNV
<RXU /LIH 7KHPH LV WR UHDG GHHSO\ LQWR OLIH WKURXJK H[HUFLVLQJ DQG H[SDQGLQJ
\RXULQWXLWLRQ<RXSHUFHLYHWKLQJVDWDJUHDWGHSWKRIWHQIDUEH\RQGWKHUDQJH
RI RWKHU SHRSOH EXW ZKDW \RX SHUFHLYH FDQ EH DZNZDUG WR H[SUHVV ZLWKRXW D
7KH3HUVRQDO/LIH7KHPHRI7UDQVIHUHQFH&RQWDJLRQ JUHDWGHDORISUDFWLFHDQGHQFRXUDJHPHQW,QIDFW\RXUZD\RIȐWKLQNLQJRXWVLGH
7KH)L[HG/LIH7KHPHRI3URVSHULW\(PSRZHUPHQW WKH ER[ȑ FRXOG VRPHWLPHV OHDYH \RX ZLWK D OLPLWHG DXGLHQFH <RX PLJKW HYHQ
7KH,QWHUSHUVRQDO/LIH7KHPHRI8QFHUWDLQW\ VXFFXPEWRWKHWHPSWDWLRQWRUHPDLQVLOHQWUDWKHUWKDQJHWGUDZQLQWRH[SODLQLQJ
WKLQJVWKDWRWKHUSHRSOHIDLOWRXQGHUVWDQG,WLVQRWWKDW\RXODFNEULOOLDQFHDQG
SRZHUIXO LQVLJKW EXW \RX PXVW ILQG DFFHVVLEOH ZD\V WR VKDUH \RXU SHUFHSWLRQV
ZLWKRWKHUV
7KH3HUVRQDO/LIH7KHPHRIWKH9HVVHORI/RYH <RXFRQVWDQWO\VHHNWRH[SUHVV\RXUWUXWKLQWKHZRUOGRQO\WRILQGWKDWGHHS
7KH)L[HG/LIH7KHPHRI([WUHPHV OD\HUV RI VOHHSLQHVV FRQGLWLRQLQJ DQG WUDGLWLRQ LQ RWKHUV FDQ PDNH WKHP
7KH,QWHUSHUVRQDO/LIH7KHPHRI3UHYHQWLRQ XQUHFHSWLYH <RX DFFHVV LQVLJKWV WKDW HYHQ ZKHQ \RX FDQ ILQG WKH ZRUGV WR
GHVFULEHWKHPRIWHQUDLVHFRQFHUQVDQGVXVSLFLRQLQ\RXUDXGLHQFH7KLVLVQRW
EHFDXVH RI \RXU SHUFHSWLRQV UDWKHU LW LV PRUH WKDW WKH ZD\ \RX FRPPXQLFDWH
\RXUDZDUHQHVVFDQEHPLVXQGHUVWRRG<RXZLOOOHDUQWKDWFHUWDLQWKLQJVFDQEH
7KH3HUVRQDO/LIH7KHPHRI3ODQQLQJ WROG DQG FHUWDLQ WKLQJV VLPSO\ FDQQRW VRPH SHRSOH DUH UHDG\ DQG UHFHSWLYH WR
7KH)L[HG/LIH7KHPHRI([SHULPHQWDWLRQ(QWKXVLDVP KHDURI\RXUEULOOLDQFHDQGRWKHUVPLJKWVKRZPRPHQWDU\LQWHUHVWDQGWKHQVWHS
DOZD\V DFFHVV DQRWKHUȍV OLIH IURP D IRXQGDWLRQ RI ORYH 8QQHFHVVDULO\ WDNLQJ 7KH,QWHUSHUVRQDO/LIH7KHPHRI,GHQWLILFDWLRQ
DGYDQWDJHRIVRPHRQHZLOOHYHQWXDOO\KDYHUHSHUFXVVLRQVIRU\RXDQGWKHPEXW
LQVWLJDWLQJPXWXDOJURZWKDQGEHQHILWZLOOHQKDQFH\RXUOLYHVJUHDWO\
:LWK \RXU &RQVFLRXV 6XQ LQ *DWH \RX KDYH DQ DPD]LQJ LQWXLWLRQ WKDW
OLVWHQV WR OLIH DQG WKH VRXQGV DURXQG \RX RQ D GHHS OHYHO $OPRVW OLNH KDYLQJ 7KH3HUVRQDO/LIH7KHPHRI6HUYLFH
LQEXLOWVRQDU\RXFDQGHWHFWQXDQFHVRIDFRXVWLFVDQGVRXQGVEH\RQGWKHUDQJH 7KH)L[HG/LIH7KHPHRI2SLQLRQV
RIKXPDQKHDULQJWKDWDOHUW\RXWRFKDQJLQJFLUFXPVWDQFHV6RPHWLPHVNQRZLQJ 7KH,QWHUSHUVRQDO/LIH7KHPHRI8SKHDYDO
PRUH DERXW SHRSOH WKDQ WKH\ KDYH HYHU NQRZQ DERXW WKHPVHOYHV PHDQV \RX
DIIHFWWKHPRQDYHU\GHHSOHYHOHVSHFLDOO\ZLWK\RXUDELOLW\WRIRUHFDVWZKHUH
WKHLU OLIH LV WDNLQJ WKHP ,I \RX DUH DWWHQWLYH WR KRZ \RX DSSURDFK SHRSOH DQG
KRZ \RX GHOLYHU \RXU LQWXLWLYH LQVLJKWV \RX ZLOO ILQG WKDW WKH\ DUH YHU\ 7KH3HUVRQDO/LIH7KHPHRI6HUYLFH
DSSUHFLDWLYHRI\RXUSUHVHQFHDQGLQSXW+RZHYHULI\RXDUHFDUHOHVVDQGEOXQW 7KH)L[HG/LIH7KHPHRI&RUUHFWLRQ
LQ \RXU LQWHUDFWLRQV HYHQ WKRXJK ZKDW \RX LQWXLW FDQ EH HQRUPRXVO\ KHOSIXO 7KH,QWHUSHUVRQDO/LIH7KHPHRI8SKHDYDO
SHRSOH ZLOO NHHS \RX DW D GLVWDQFH <RXU 7\SH DQG $XWKRULW\ DOZD\V LQGLFDWH
ZKHQDQGKRZWRHQJDJHZLWKOLIHVR\RXSHQHWUDWHLWGHHSO\LQZD\VWKDWEULQJ
\RXJUHDWIXOILOOPHQW
7KH3HUVRQDO/LIH7KHPHRIWKH)RXU'LUHFWLRQV:D\V
7KH)L[HG/LIH7KHPHRI1HHG
7KH,QWHUSHUVRQDO/LIH7KHPHRI5HILQHPHQW
7KH3HUVRQDO/LIH7KHPHRIWKH6OHHSLQJ3KRHQL[)XWXUH7UDQVIRUPDWLRQ
7KH)L[HG/LIH7KHPHRI1RZ
7KH,QWHUSHUVRQDO/LIH7KHPHRI'XDOLW\
7KH3HUVRQDO/LIH7KHPHRI7HQVLRQ
7KH)L[HG/LIH7KHPHRI&RQWURO
7KH,QWHUSHUVRQDO/LIH7KHPHRI(QGHDYRU
7KH3HUVRQDO/LIH7KHPHRI5XOHUVKLS
7KH)L[HG/LIH7KHPHRI*UDFH
7KH,QWHUSHUVRQDO/LIH7KHPHRI,QIRUPLQJ
7KH3HUVRQDO/LIH7KHPHRI([SODQDWLRQ
7KH)L[HG/LIH7KHPHRI$VVLPLODWLRQ
7KH,QWHUSHUVRQDO/LIH7KHPHRI'HGLFDWLRQ 6XQLQ*DWH
7KH3HUVRQDO/LIH7KHPHRI3(1(75$7,21
7KH3HUVRQDO/LIH7KHPHRIWKH)RXU'LUHFWLRQV:D\V
7KH)L[HG/LIH7KHPHRI5DWLRQDOL]DWLRQ
7KH,QWHUSHUVRQDO/LIH7KHPHRI,QFDUQDWLRQ
7KH3HUVRQDO/LIH7KHPHRIWKH9HVVHORI/RYH
7KH)L[HG/LIH7KHPHRI,QQRFHQFH
7KH,QWHUSHUVRQDO/LIH7KHPHRI+HDOLQJ
-RKQ/HQQRQ
7KH3HUVRQDO/LIH7KHPHRI5XOHUVKLS
6HDQ/HQQRQ
7KH)L[HG/LIH7KHPHRI3URFXULQJWKH7ULFNVWHU *XLOOHUPRGHO7RUR
7KH,QWHUSHUVRQDO/LIH7KHPHRI&RQIURQWDWLRQ %HOOD+DGLG
/XFLDQR3DYDURWWL
<RXU /LIH 7KHPH LV WR SHQHWUDWH OLIH RQ PDQ\ OHYHOV :KHUHYHU \RX JR DQG
7KH3HUVRQDO/LIH7KHPHRIWKH8QH[SHFWHG
ZKRPHYHU \RX PHHW \RX DOZD\V EHFRPH HQJDJHG UHDFKLQJ WKURXJK \RXU
7KH)L[HG/LIH7KHPHRI&DULQJ
LQWXLWLYH VHQVHV ULJKW LQWR SHRSOHȍV OLYHV VZLIWO\ DQG ZLWKRXW HIIRUW ,I \RX SD\
7KH,QWHUSHUVRQDO/LIH7KHPHRI$OLJQPHQW
DWWHQWLRQ \RX FDQ JDXJH RWKHUVȍ PRWLYDWLRQV DPELWLRQV DQG IHDUV RIWHQ
LQVWDQWO\ XQGHUVWDQGLQJ PXFK DERXW VRPHRQHȍV OLIH VLWXDWLRQ :LWKRXW DOZD\V
NQRZLQJ KRZ \RX FDQ VKRFN RWKHUV LQWR D QHZ DZDUHQHVV RI WKHLU OLIH
7KH3HUVRQDO/LIH7KHPHRIWKH8QH[SHFWHG FLUFXPVWDQFHV RSHQLQJ XS WKH SRVVLELOLW\ IRU WKHP WR PDNH VXEVWDQWLDO
7KH)L[HG/LIH7KHPHRI5LVNV DGMXVWPHQWVLQWKHLUOLYHV
7KH,QWHUSHUVRQDO/LIH7KHPHRI$OLJQPHQW 3RWHQWLDOO\GHHSO\LQWXLWLYH\RXGRQȍWDOZD\VDSSUHFLDWHWKHHIIHFWVWKDW\RXU
SHQHWUDWLQJDELOLWLHVKDYHRQRWKHUVQRUWKDWRWKHUVGRQRWQHFHVVDULO\KDYHWKH
VDPH SHUFHSWLRQV \RX GR :KHQ HQJDJLQJ ZLWK SHRSOH EH FOHDU WKDW \RX FRPH
IURP D SODFH RI LQWHJULW\ UDWKHU WKDQDSODFH RIPDQLSXODWLRQDQGUHPHPEHU WR
DUFKLWHFWXUH PXVLF ZULWLQJ VSHHFK GLSORPDF\ DJULFXOWXUH DUWV 7KH3HUVRQDO/LIH7KHPHRI7UDQVIHUHQFH&RQWDJLRQ
WUDYHO WHDFKLQJ DQG PDQ\ RWKHU ZD\V DQG \RX DUH UHFHSWLYH WR KRZ 7KH)L[HG/LIH7KHPHRI&RPPLWPHQW
SHRSOHLQWHUDFWDQGFRRSHUDWHWRJHWKHU 7KH,QWHUSHUVRQDO/LIH7KHPHRI'LOLJHQFH,QGXVWU\
,I\RXU/LIH7KHPHLVLQWKH4XDUWHURI'XDOLW\\RXDUHH[SORULQJ
HYHU\FRQFHLYDEOHZD\WREULQJDERXWJURZWKRULPSURYHPHQW<RXȍOO
OLNHO\ TXHVWLRQ DOO WKH PXOWLSOH ZD\V LQ ZKLFK OLIH FDQ EH OLYHG IURP
7KH3HUVRQDO/LIH7KHPHRI7UDQVIHUHQFH&RQWDJLRQ
ERWK PDOH DQG IHPDOH DV ZHOO DV RWKHU GXDOLVWLF SHUVSHFWLYHV \RXU
7KH)L[HG/LIH7KHPHRI'HVLUHV)DWHV
DWWHQWLRQZLOOEHGUDZQWRZDUGWKHVWUHQJWKDQGIUDJLOLW\RIOLIHKHDOWK
7KH,QWHUSHUVRQDO/LIH7KHPHRI'LOLJHQFH,QGXVWU\
DQGZHOOEHLQJVDIHW\LVVXHVDQGXOWLPDWHO\TXHVWLRQLQJZKDWZHDUH
GRLQJKHUHDVLQGLYLGXDOV
,I \RXU /LIH 7KHPH LV LQ WKH 4XDUWHU RI 0XWDWLRQ \RX DUH LQ WKH
IRUHIURQWRIFKDQJHVDQGWUDQVIRUPDWLRQ<RXZDWFKWKHZD\VLQZKLFK 7KH3HUVRQDO/LIH7KHPHRIWKH8QH[SHFWHG
OLIH JURZV DQG H[SDQGV WKURXJK WKH WKUXVW RI FUHDWLYH HYROXWLRQ 7KH)L[HG/LIH7KHPHRI,QIOXHQFH
VRPHWLPHV DV D UHVXOW RI \RXU GLUHFW LQYROYHPHQW DQG DW RWKHU WLPHV 7KH,QWHUSHUVRQDO/LIH7KHPHRIWKH$OSKD
\RXȍUHREVHUYLQJLQDPD]HPHQWDVOLIHDURXQG\RXWZLVWVDQGWXUQVLQWR
QHZVKDSHVDQGIRUPV
(DFK 4XDUWHU FRPPHQFHV ZLWK D YHUVLRQ RI WKH 3HUVRQDO /LIH 7KHPH RI 7KH3HUVRQDO/LIH7KHPHRIWKH0D\D
'LUHFWLRQȐWKH6SKLQ[ȑZKLFKVHWVWKHVWDJHIRUWKHXSFRPLQJVHDVRQ 7KH)L[HG/LIH7KHPHRI&RQVHUYDWLRQ
(DFK 4XDUWHU FRQFOXGHV ZLWK HLWKHU WKH ,QWHUSHUVRQDO /LIH 7KHPH RI 7KH,QWHUSHUVRQDO/LIH7KHPHRI/LPLWDWLRQ
,QFDUQDWLRQRUWKH,QWHUSHUVRQDO/LIH7KHPHRI5HILQHPHQW
(YHU\ /LIH 7KHPH KDV D GLUHFW FRQQHFWLRQ LQWR HDFK RI WKH IRXU 4XDUWHUV
H[FHSWIRUWKH,QWHUSHUVRQDO/LIH7KHPHVRI,QFDUQDWLRQDQG5HILQHPHQWDQGWKH
)L[HG /LIH 7KHPHV RI 5DWLRQDOL]DWLRQ 5HWUHDW $OHUWQHVV DQG 1HHG ZKLFK DUH 7KH3HUVRQDO/LIH7KHPHRIWKH)RXU'LUHFWLRQV:D\V
FRQWDLQHGLQWZR4XDUWHUVHDFK 7KH)L[HG/LIH7KHPHRI5HWUHDW
7KH,QWHUSHUVRQDO/LIH7KHPHRI5HILQHPHQW
+2:/,)(7+(0(6&20(72%(
7KH/LIH7KHPHVDUHVRPHWLPHVFDOOHGȐ,QFDUQDWLRQ&URVVHVȑEHFDXVHWKH\
DUHFRQVWLWXWHGIURPIRXUSRLQWVLQWKHVN\DWWKHPRPHQWRI\RXUELUWKRUDWWKH 7KH3HUVRQDO/LIH7KHPHRIWKH6OHHSLQJ3KRHQL[)XWXUH7UDQVIRUPDWLRQ
PRPHQWRIDFUHDWLRQRUDSDUWLFXODUHYHQW:KHQWKHVHIRXUSRLQWVDUHFRQQHFWHG 7KH)L[HG/LIH7KHPHRI*UHDW$FWLYLWLHV3RZHU
WRJHWKHUWKURXJKDZKHHOUHSUHVHQWLQJWKHVN\DURXQGXVWKH\ORRNOLNHDVOLJKWO\ 7KH,QWHUSHUVRQDO/LIH7KHPHRI'XDOLW\
VNHZHGFURVV7KHIRXUSRLQWVDUHVHWIURPWKHSODFHPHQWRIWKH6XQDQG(DUWK
ZKLFKDUHRSSRVLWHHDFKRWKHUIRUWKHSDUWLFXODUȐELUWKPRPHQWȑDQGDOVRWKH
SODFHPHQWRIWKH6XQDQG(DUWKIRUDPRPHQWLQWLPHH[DFWO\GHJUHHVRI6RODU
$UFDSSUR[LPDWHO\WKUHHPRQWKVEHIRUHWKDWELUWK6RWKHDQJOHRIWKHȐFURVVȑLV 7KH3HUVRQDO/LIH7KHPHRI&RQVFLRXVQHVV
7KH)L[HG/LIH7KHPHRI3URJUHVV([SHULHQFLQJ
7KH,QWHUSHUVRQDO/LIH7KHPHRI6HSDUDWLRQ
7+()28548$57(562)/,)(
7+(0(6
7KH3HUVRQDO/LIH7KHPHRIWKH*DUGHQRI(GHQ
7KH)L[HG/LIH7KHPHRI&ULVLV5HVROXWLRQ
7KH,QWHUSHUVRQDO/LIH7KHPHRIWKH(DUWK3ODQH
7KH3HUVRQDO/LIH7KHPHRI3ODQQLQJ
7KH)L[HG/LIH7KHPHRI%DUJDLQV
7KH,QWHUSHUVRQDO/LIH7KHPHRI3URJUHVVLYH&RPPXQLW\0LJUDWLRQ
7KH3HUVRQDO/LIH7KHPHRI7HQVLRQ
7KH)L[HG/LIH7KHPHRI2SSRVLWLRQ
7KH,QWHUSHUVRQDO/LIH7KHPHRI,QGLYLGXDOLVP
7KH3HUVRQDO/LIH7KHPHRI7HQVLRQ
:KHUHYHUWKH6XQLVSODFHGDWWKHPRPHQWRIRXUELUWKLVWKHSRUWLRQRIWKHVN\
7KH)L[HG/LIH7KHPHRI3URYRFDWLRQ
RUWKHVWDUILHOGVIURPZKLFKZHUHFHLYHSHUFHQWRIWKHHQHUJ\LQRXU'HVLJQ
7KH,QWHUSHUVRQDO/LIH7KHPHRI,QGLYLGXDOLVP
7KH4XDUWHULQZKLFK\RXU&RQVFLRXV6XQLVSODFHGGHWHUPLQHVWKHGULYHEHKLQG
\RXUOLIHWLPH
7KH3HUVRQDO/LIH7KHPHRI3ODQQLQJ ,I\RXU&RQVFLRXV6XQȍVSODFHPHQWLVLQWKH4XDUWHURI,QLWLDWLRQ
7KH)L[HG/LIH7KHPHRI'HQLDO \RXDUHDQȐLQLWLDWRUȑZKRLVDOZD\VDWWKHIRUHIURQWRIJHWWLQJWKLQJV
7KH,QWHUSHUVRQDO/LIH7KHPHRI3URJUHVVLYH&RPPXQLW\0LJUDWLRQ RII WKH JURXQG RSHQLQJ QHZ LGHDV VW\OHV SURMHFWV UHVHDUFK
SURSRVDOVDQGH[SHULHQFHVDQGTXHVWLQJIRUQHZNQRZOHGJHIHHOLQJV
DQGSRWHQWLDOV
,I \RXU /LIH 7KHPH LV LQ WKH 4XDUWHU RI &LYLOL]DWLRQ \RX DUH
7KH3HUVRQDO/LIH7KHPHRIWKH8QH[SHFWHG KHOSLQJ WR RSHQ DQG HVWDEOLVK FRPPXQLFDWLRQV DQG ZD\V LQ ZKLFK
7KH)L[HG/LIH7KHPHRI)DQWDV\ SHRSOH FDQ UHODWH EHWWHU ZLWK RQH DQRWKHU 7KLV KDSSHQV WKURXJK
7KH,QWHUSHUVRQDO/LIH7KHPHRIWKH$OSKD
)LIWK/LQHVFDQH[SDQGWKHERXQGDULHVRIFRQFHSWXDOL]DWLRQ+RZHYHUWKH\QHHG
FRQVWDQW UHDOLW\ FKHFNV RU HOVH WKH\ OLYH LQ DQ HWHUQDO SURMHFWLRQ ILHOG RI
SRWHQWLDOLWLHV 7KH3HUVRQDO/LIH7KHPHRIWKH0D\D
7KH)L[HG/LIH7KHPHRI&RPSOHWLRQ
7KH,QWHUSHUVRQDO/LIH7KHPHRI/LPLWDWLRQ
6L[WK/LQH
6L[WK/LQHVIHHOUHVSRQVLEOHDOOWKHWLPHEHFDXVHWKH\WHQGWRVHHLQWROLIHEHWWHU
WKDQ RWKHUV ZKHWKHU WKH\ ZDQW WR RU QRW 6L[WK /LQHV FDQ GHYHORS D QHHG WR 7KH3HUVRQDO/LIH7KHPHRI([SODQDWLRQ
ZLWKGUDZIURPFRQVWDQWO\EHLQJRQFDOOEXWWKHQWKH\JHWGUDZQEDFNLQWRWDNH 7KH)L[HG/LIH7KHPHRI,QVLJKW
FKDUJHEHFDXVHWKH\DUHWKHQDWXUDOH[SHUW7KHUHȍVDZKROHUHDOPRIH[SHFWDWLRQ 7KH,QWHUSHUVRQDO/LIH7KHPHRI'HGLFDWLRQ
DURXQGWKHPDQGWKH\PXVWOHDUQWROHWJRRIDQ\FRQWLQXLQJVHQVHRIREOLJDWLRQ
7+()28548$57(562)/,)(7+(0(6
7KH3HUVRQDO/LIH7KHPHRIWKH9HVVHORI/RYH
7KH/LIH7KHPHVDUHGLYLGHGHTXDOO\LQWRIRXU4XDUWHUVRUIRXUPRGDOLWLHV
7KH)L[HG/LIH7KHPHRI6HUHQGLSLW\
DFFRUGLQJWRWKH6XQȍVSODFHPHQWLQWKHVN\UHODWLYHWRWKH(DUWKDWDQ\SDUWLFXODU
7KH,QWHUSHUVRQDO/LIH7KHPHRI+HDOLQJ
WLPHRIWKH\HDU7KHIRXU4XDUWHUVDUHQXPEHUHGDQGWLWOHGDVȐ,QLWLDWLRQȑ
Ȑ&LYLOL]DWLRQȑȐ'XDOLW\ȑDQGȐ0XWDWLRQȑ
7KH3HUVRQDO/LIH7KHPHRI5XOHUVKLS
7KH)L[HG/LIH7KHPHRI5HDOL]DWLRQV2SSUHVVLRQ
7KH,QWHUSHUVRQDO/LIH7KHPHRI,QIRUPLQJ
7KH3HUVRQDO/LIH7KHPHRI7HQVLRQ VHHNDWRWDOSK\VLFDOLGHQWLILFDWLRQ7RHPEHG6RVRPHRQHZLWKDGRJDFWXDOO\
7KH)L[HG/LIH7KHPHRI)UHVKQHVV'HSWK WDNHVRQWKHSHUVRQDRIWKHGRJ7KH\DUHGUDZQWREHFRPHWKHSODQWWKHWUHH
7KH,QWHUSHUVRQDO/LIH7KHPHRI(QGHDYRU WKHORYHUWKHDUWZRUNWKHFRPSXWHUWKHKHDOLQJWKHPRYLHWKHRWKHUSHUVRQ
6HFRQG/LQH
7KH3HUVRQDO/LIH7KHPHRI([SODQDWLRQ
7KH)L[HG/LIH7KHPHRI3ULQFLSOHV 6HFRQG /LQHV DUH GUDZQ WR ȐWKH QDWXUDOȑ 7KH\ DUH FRQVWDQWO\ VHHNLQJ ZKDW LV
7KH,QWHUSHUVRQDO/LIH7KHPHRIWKH5HEHO5HYROXWLRQ SOD\IXO DQG LQKHUHQWO\ IXQ 7KH\ ZLOO WHQG WR LJQRUH DOPRVW HYHU\WKLQJ XQOHVV
VRPHWKLQJQDWXUDODSSHDUVZLWKLQLW6HFRQG/LQHVDUHSRWHQWLDOO\YHU\LQQRFHQW
JXOOLEOH DQG DOVR EULOOLDQW EXW WKH\ FDQ EH XSVHW DQG SRWHQWLDOO\ DQJU\ ZKHQ
WDNHQDGYDQWDJHRILQWHUUXSWHGRUPRFNHGIRUDSSHDULQJXQVRSKLVWLFDWHG7KH\
7KH3HUVRQDO/LIH7KHPHRIWKH/DZV WHQGWRVHHNQHZLQIRUPDWLRQDQGHGXFDWLRQ
7KH)L[HG/LIH7KHPHRI9DOXHV
7KH,QWHUSHUVRQDO/LIH7KHPHRI:LVKHV
7KLUG/LQH
7KLUG/LQHVKDYHWRWU\WRGRWRH[SHULPHQW(YHQLIHYHU\WKLQJVD\VȐ1RȑWKH\
7KH3HUVRQDO/LIH7KHPHRI3HQHWUDWLRQ ZLOO LQVLVW RQ WU\LQJ VRPHWLPHV DJDLQVW LPSRVVLEOH RGGV SXVKLQJ WKH HQYHORSH
7KH)L[HG/LIH7KHPHRI6KRFN HYHQWRWKHSRLQWRIEHLQJREGXUDWH7KH\FDQEHLGHQWLILHGDVPLVILWVWKDWQHHG
7KH,QWHUSHUVRQDO/LIH7KHPHRIWKH&ODULRQ DQ HVFDSH URXWH DQ RSHQ GRRU DW DOO WLPHV IURP DQ\ FRPPLWPHQW EXW WKH\
KDSSHQXSRQDPD]LQJGLVFRYHULHVLQQRYDWLRQVDQGPXWDWLRQV
7KH3HUVRQDO/LIH7KHPHRI6HUYLFH )RXUWK/LQH
7KH)L[HG/LIH7KHPHRI6WLOOQHVV
7KH,QWHUSHUVRQDO/LIH7KHPHRI'HPDQGV )RXUWK /LQHV DUH LQ ORYH GHHSO\ LQ ORYH ZLWK OLIH DQG WKH\ DUH LQIOXHQWLDO LQ
EULQJLQJRWKHUVWRJHWKHU7KH\GRWKLVXQWLOWKH\DUHEHWUD\HGLQWKHLUWUXVWWKHQ
WKH\ FDQ EHFRPH KDOIKHDUWHG PHDQ ZLWKGUDZQ XQDYDLODEOH GHIHQVLYH DQG
IUDJLOH )RXUWK /LQHV FRQVWDQWO\ QHHG UHPLQGLQJ WR RSHQ XS WR OLIH DJDLQ DQG
7KH3HUVRQDO/LIH7KHPHRI3HQHWUDWLRQ DJDLQ
7KH)L[HG/LIH7KHPHRI%HJLQQLQJV
7KH,QWHUSHUVRQDO/LIH7KHPHRI&\FOHV
)LIWK/LQH
)LIWK /LQHV FRQVWDQWO\ FRQFHSWXDOL]H HYHU\WKLQJ JLYLQJ WKH SRVVLELOLW\ RI JUHDW
7KH3HUVRQDO/LIH7KHPHRI3HQHWUDWLRQ OHDGHUVKLSDQGJXLGDQFH,WLVVDLGWKDWWKHXQLYHUVHLVDQH[WHQVLRQRIPLQGDQG
,I\RXU(PRWLRQV6DFUDODQG6SOHHQ&HQWHUVDUHXQGHILQHGFRORUHGZKLWH\RXU 7KH)L[HG/LIH7KHPHRI$PELWLRQ
6HOI&HQWHULVGHILQHGFRORUHGLQDQG\RXU+HDUW&HQWHUGHILQHGRUQRWGRHV 7KH,QWHUSHUVRQDO/LIH7KHPHRI&\FOHV
QRWPDNHFRQQHFWLRQWRWKH7KURDW&HQWHUWKURXJKGHILQHG&KDQQHOVWKHQ\RX
KDYH6HOI$XWKRULW\RQHRIWKHPRVWSHUVRQDODQGSRWHQWLDOO\VHQVLWLYHIRUPVRI
$XWKRULW\6HOI$XWKRULW\FRPHVWKURXJKTXLHWUHFRJQLWLRQLQWKHFHQWHURI\RXU
FKHVW WKDW JLYHV WKH VHQVDWLRQ RI RSHQLQJ XS RU QRW WR HQJDJH ZLWK VRPHRQH RU 7KH3HUVRQDO/LIH7KHPHRIWKH6OHHSLQJ3KRHQL[)XWXUH7UDQVIRUPDWLRQ
VRPHWKLQJ<RXKDYHD3URMHFWRU'HVLJQWKDWRSHUDWHVZLWKLQDQHQYLURQPHQWRI 7KH)L[HG/LIH7KHPHRI0RRGV
LQYLWDWLRQVERWKJLYHQDQGUHFHLYHGVRUHFRJQL]LQJZKHQ\RXDUHEHLQJGUDZQ 7KH,QWHUSHUVRQDO/LIH7KHPHRI6SLULW
WR EH LQYROYHG LQ DQ\WKLQJ LV D SXUHO\ SHUVRQDO H[SHULHQFH %HLQJ SXVKHG RU
FRHUFHGE\RWKHUVZLOOQRWVHUYH\RXDV\RXKDYHWRFRPHWR\RXURZQFODULW\
WKURXJKWUXVWLQJWKLVSHUVRQDOLQQHUJXLGDQFH
7KH3HUVRQDO/LIH7KHPHRIWKH/DZV
2XWHU$XWKRULW\ 7KH)L[HG/LIH7KHPHRI6WLPXODWLRQ%HOLHIV
7KH,QWHUSHUVRQDO/LIH7KHPHRI'LVWUDFWLRQ
,I\RXKDYHD5HIOHFWRU'HVLJQRU\RXKDYH\RXU7KURDW&HQWHUGHILQHGWR\RXU
0LQGDQGRU\RXU0LQGGHILQHGWR\RXU&URZQZLWKRXWDQ\RWKHUFHQWHUVEHLQJ
GHILQHG\RXKDYH2XWHU$XWKRULW\<RXZLOODSSUHFLDWHWKDW\RXDUHDQHPSDWK
ZKR SLFNV XS WKH IHHOLQJV IHDUV DQG DJHQGDV RI HYHU\RQH DURXQG \RX ,W LV 7KH3HUVRQDO/LIH7KHPHRI3HQHWUDWLRQ
HVVHQWLDOWKDW\RXJLYH\RXUVHOIVSDFHDQGWLPHWRILQG\RXURZQFODULW\DQG\RX 7KH)L[HG/LIH7KHPHRI,QWXLWLRQ
GR WKLV WKURXJK D SURFHVV RI SDWLHQW UHIOHFWLRQ ,Q PDNLQJ ODUJH GHFLVLRQV LW LV 7KH,QWHUSHUVRQDO/LIH7KHPHRIWKH&ODULRQ
UHFRPPHQGHGWRWDNHDWOHDVWDPRQWKVR\RXFDQZHLJKDOODVSHFWVRIDVLWXDWLRQ
EHIRUH UHDFKLQJ DQ\ SDUWLFXODU FRQFOXVLRQV <RX ZLOO ILQG WKDW LI \RX H[HUFLVH
SDWLHQFH REVHUYDWLRQ DQG FOHDU LQTXLU\ \RX ZLOO EHFRPH RQH RI WKH ZLVHVW
SHRSOHRQHDUWK 7KH3HUVRQDO/LIH7KHPHRI6HUYLFH
7KH)L[HG/LIH7KHPHRI9LWDOLW\
7+(7:(/9(352),/(6 7KH,QWHUSHUVRQDO/LIH7KHPHRI'HPDQGV
7KHUHDUHWZHOYH3URILOHVWKDWGHVFULEHWKHLQWHUDFWLRQEHWZHHQWKHOLQHQXPEHUV
WKH VXSHUVFULSW QXPEHUV QH[W WR WKH *DWH QXPEHUV RQ WKH &RQVFLRXV DQG 7KH3HUVRQDO/LIH7KHPHRIWKH6OHHSLQJ3KRHQL[)XWXUH7UDQVIRUPDWLRQ
8QFRQVFLRXV6XQDQG(DUWKSODFHPHQWVLQD+XPDQ'HVLJQ/LIH&KDUW3URILOHV 7KH)L[HG/LIH7KHPHRI6WUDWHJ\
DUH GHVFULEHG LQ JUHDW GHWDLO LQ +XPDQ 'HVLJQ 'LVFRYHU WKH 3HUVRQ <RX :HUH 7KH,QWHUSHUVRQDO/LIH7KHPHRI6SLULW
%RUQWR%H+HUHLVDEULHIH[SODQDWLRQRIHDFKRIWKHVL[OLQHV
)LUVW/LQH 7KH3HUVRQDO/LIH7KHPHRIWKH/DZV
7KH)L[HG/LIH7KHPHRI5HVWULFWLRQ
)LUVW/LQHVKDYHWREHFRPHSK\VLFDOO\EHFRPHLGHQWLI\ZLWKEHWKHLUOLIH7KH\
7KH,QWHUSHUVRQDO/LIH7KHPHRI'LVWUDFWLRQ WKHFHQWHUZHKDYHLGHQWLILHGDVWKHFRUHWR*HQHUDWRUDQG0DQLIHVWLQJ*HQHUDWRU
7\SHV 7KH 6DFUDO &HQWHU LV D SRZHUKRXVH JHQHUDWLQJ OLIH IRUFH HQHUJ\ WKDW LV
FRQVWDQWO\ORRNLQJIRUDQRXWOHW7KH6DFUDOGHFLVLRQPDNLQJSURFHVVLVVLPSO\D
JXW UHVSRQVH 7KH JXW UHVSRQVH LV DQ DFWXDO PRYHPHQW RI HQHUJ\ ULVLQJ LQ
7KH3HUVRQDO/LIH7KHPHRIWKH0D\D UHVSRQVHWRZDUGVRPHWKLQJRUVRPHRQHZLWKDQLPSOLHGȐ\HVȑRULWLVDIDOOLQJ
7KH)L[HG/LIH7KHPHRI7UXWK7KLQNLQJ RI HQHUJ\ WKDW LQGLFDWHVȐQRW QRZȑ7KHUH FDQEHD 6DFUDOQRLVH OLNH ȐDKKXKȑ
7KH,QWHUSHUVRQDO/LIH7KHPHRI2EVFXUDWLRQ&RQFHDOLQJ \HV RU ȐXQXKȑ QRW QRZ %HFDXVH WKH 6DFUDO HQHUJ\ RQFH FRPPLWWHG FDQQRW
EHVWRSSHGHDVLO\LWLVHVVHQWLDOIRUWKRVHZLWK6DFUDO$XWKRULW\WRUHFRJQL]HDQG
HPSOR\LWDWDOOWLPHV
7KH3HUVRQDO/LIH7KHPHRIWKH0D\D
7KH)L[HG/LIH7KHPHRI'HWDLOV 6SOHQLF$XWKRULW\
7KH,QWHUSHUVRQDO/LIH7KHPHRI2EVFXUDWLRQ&RQFHDOLQJ
,IERWK\RXU(PRWLRQVDQG6DFUDO&HQWHUVDUHXQGHILQHGFRORUHGZKLWHDQG\RXU
6SOHHQ&HQWHULVGHILQHGFRORUHGLQWKHQ\RXKDYH6SOHQLF$XWKRULW\DQGRQH
RI WKH TXLFNHVW GHFLVLRQPDNLQJ SURFHVVHV RI DQ\RQH <RX ZHLJK VLWXDWLRQV LQ
7KH3HUVRQDO/LIH7KHPHRI&RQVFLRXVQHVV WKH EOLQN RI DQ H\H VXP XS VHQWHQFHV EHIRUH WKH VSHDNHU KDV ILQLVKHG WDONLQJ
7KH)L[HG/LIH7KHPHRI6XEVWDQWLDWLRQ'RXEWV DQGDUHUHDG\WRPRYHRUVWRSLQVWDQWO\JLYHQWKHULJKWFLUFXPVWDQFHV6SOHQLF
7KH,QWHUSHUVRQDO/LIH7KHPHRI'RPLQLRQ $XWKRULW\ RSHUDWHV WKURXJK WKH VHQVHV RI WDVWH FHUWDLQO\ LQYROYLQJ HGLEOHV EXW
DOVRHQYLURQPHQWVDQGSHRSOHZKLFKFDQEHFRQVLGHUHGWDVWHIXORUQRWLQWXLWLRQ
WKH DFRXVWLF ZRUOG RI VRXQGV LQ ERWK DXGLEOH DQG LQDXGLEOH IUHTXHQFLHV DQG
LQVWLQFWLQFOXGLQJRXUVHQVHRIVPHOODQGDVVRFLDWHGFHOOXODUPHPRULHVEXWDOVR
7KH3HUVRQDO/LIH7KHPHRI&RQVFLRXVQHVV LQFOXGLQJ KXQFKHV WKDW FDQQRW EH GHVFULEHG DV ORJLFDO (DFK RI WKHVH VHQVHV
7KH)L[HG/LIH7KHPHRI0XOWLSOLFLWLHV&RQIXVLRQ JLYHV\RXLQVWDQWDQHRXVDZDUHQHVVRI\RXUHQYLURQPHQWRUFLUFXPVWDQFHV
7KH,QWHUSHUVRQDO/LIH7KHPHRI'RPLQLRQ
:LOOIXO+HDUW$XWKRULW\
$FNQRZOHGJPHQWV
$ERXWWKH$XWKRUV ,I\RXU(PRWLRQV6DFUDODQG6SOHHQ&HQWHUVDUHXQGHILQHGFRORUHGZKLWHDQG
\RXU+HDUW&HQWHULVGHILQHGFRORUHGLQDQGPDNHVDFRQQHFWLRQWRWKH7KURDW
&HQWHUWKURXJKGHILQHG&KDQQHOVWKHQ\RXKDYHWKLVYHU\SDUWLFXODU$XWKRULW\
ZKLFK GHFUHHV ȐZKDW \RX ZDQW LV ZKDW QHHGV WR KDSSHQȑ ,W LV D 0DQLIHVWRU
'HVLJQLPSO\LQJWKDW\RXDUHDFDWDO\VWIRUDOONLQGVRIZLOOIXODFWLYLWLHVDQGWKH
PRVWLPSRUWDQWLVVXHKHUHLVWKDW\RXDUHFOHDULQ\RXUKHDUWRIKHDUWVDERXWZKDW
\RXZDQW:KHQ\RXDUHWUXHWR\RXURZQ$XWKRULW\\RXZLOOILQGWKDWLWVHUYHV
QRWRQO\\RXUVHOIEXWRWKHUVZKHWKHURUQRWWKH\DSSUHFLDWHWKDWLPPHGLDWHO\
6HOI$XWKRULW\
SURWHFWHGKROGVZLWKLQLWVQDWXUHDQLQGHVFULEDEOHEHDXW\ RIHYROXWLRQHQGV0DQLVWKHODVWSURGXFWRIXQFRQVFLRXVHYROXWLRQ:LWKPDQ
FRQVFLRXVHYROXWLRQEHJLQVȑ
3HUKDSV WKDW DZDUHQHVV ZRXOG VKHG QHZ OLJKW RQ WKH VWDWHPHQW E\ -HVXV
7+(6,;.,1'62)$87+25,7< UHIHUULQJWRPLUDFOHVKHSHUIRUPHGȐ7KHVHZRUNVWKDW,GR\RXZLOOGRDOVRDQG
JUHDWHUVWLOOȑ-RKQ
:KHQZHWDONDERXW$XWKRULW\LQ+XPDQ'HVLJQZHDUHUHODWLQJWRRXULQKHUHQW ,IHYHU\WKLQJLQWKH8QLYHUVHRSHUDWHVDFFRUGLQJWR8QLYHUVDO3ULQFLSOHVDQG
GHFLVLRQPDNLQJ SURFHVV 3HUKDSV WKH PRVW LPSRUWDQW WKLQJ ZH FDQ HYHU NQRZ \RXDUHJLYHQFRQVFLRXVDFFHVVWRLQWHUDFWGLUHFWO\ZLWKWKRVHSULQFLSOHVZRXOGLW
DERXW RXUVHOYHV LV KRZ WR PDNH GHFLVLRQV WKDW ZRUN IRU XV LQ DQ\ DQG DOO QRW IROORZ WKDW \RX FDPH ZLWK WKH SRWHQWLDO DQG SXUSRVH WR GLUHFW \RXU RZQ
VLWXDWLRQV %XLOW LQWR \RXU 'HVLJQ LV WKH PHDQV IRU WKLV DQG RQFH \RX HQJDJH FRQVFLRXVHYROXWLRQ"
ZLWKLWFRQVLVWHQWO\\RXUZKROHOLIHZLOOFKDQJHLQSRVLWLYHDQGEHQHILFLDOZD\V ,I WKDW LV WUXH WKHQ KRZ LPSRUWDQW LV LW IRU \RX WR EH DZDUH RI WKH VRXO
7KHUH DUH VL[ GLIIHUHQW $XWKRULWLHV DQG ZH HDFK KDYH RQH IRU RXU OLIHWLPH DJUHHPHQW \RX PDGH EHIRUH HPEDUNLQJ RQ WKLV OLIH" $UH \RX OLYLQJ WKDW
.QRZLQJ \RXU RZQ $XWKRULW\ LV HVVHQWLDO EXW NQRZLQJ RWKHU SHRSOHVȍ DJUHHPHQWRUKDYH\RXEHHQGLVWUDFWHGE\ZKDWHYHU\RQHHOVHKDVWROG\RXDERXW
$XWKRULWLHVLVDOVRLOOXPLQDWLQJ OLIHDQGIRUJRWWHQ\RXURZQXQLTXHSXUSRVH"
,Q IDFW KDYH \RX HYHU VWRSSHG WR FRQVLGHU KRZ XQLTXH \RX DUH DQG ZKDW
VSHFLDOTXDOLWLHV\RXKDYHWRRIIHUWKHZRUOG":KDWLVLWWKDWFRPHVQDWXUDOO\WR
(PRWLRQDO$XWKRULW\ \RXDQGWKURXJK\RX"
-XVW OLNH WKH VWRU\OLQH RI D ERRN RU WKH WKHPH PXVLF WR D PRYLH WKHUH LV D
$Q\ /LIH &KDUW WKDW FRQWDLQV D GHILQHG FRORUHG LQ (PRWLRQV &HQWHU KDV D XQLTXH FRQVLVWHQW DQG UHFRJQL]DEOH XQGHUFXUUHQW WR \RXU ZKROH OLIHWLPH ,W LV
GHFLVLRQPDNLQJSURFHVVWKDWLVFORVHO\LQWHUWZLQHGZLWKHPRWLRQDOIHHOLQJV$V \RXU/LIH7KHPHZKLFKLV\RXUPHORG\\RXUSDUWLQWKHV\PSKRQ\RIOLIHDQG
ZH DOO NQRZ IHHOLQJV FDQ ULVH DQG IDOO IURP H[WUHPHV RI HFVWDV\ DQG JUHDW RQO\\RXFDQSOD\LW
H[FLWHPHQW WR IDLOXUH DQG GHVSDLU 7R WKHLU FRVW PRVW SHRSOH KDYH QHYHU EHHQ .QRZLQJ DQG DFFHSWLQJ \RXU SDUWLFXODU /LIH 7KHPH LV WUXO\ WUDQVIRUPDWLYH
PDGH DZDUH RI KRZ WR JDXJH WKHLU IHHOLQJV DQG DUH SURQH WR DFW RQ LPSXOVH RU (PERG\LQJ WKLV DZDUHQHVV JLYHV \RX UHDVVXUDQFH DQG FODULILFDWLRQ DERXW \RXU
FRQGLWLRQLQJ UDWKHU WKDQ WKURXJK ILQGLQJ WKHLU HPRWLRQDO FODULW\ EHIRUH PDNLQJ OLIHSXUSRVH,WLVOLNHZKHQWKHSHQQ\GURSVRUWKHOLJKWEXOEJRHVRQDQG\RX
GHFLVLRQV (PRWLRQDO FODULW\ FRPHV IURP LGHQWLI\LQJ D VWLOO SRLQW WKDW LV QRW MXVWȐJHWLWȑ<RXZLOOQRORQJHUKDYHWRGHDOZLWKWKHPLVSODFHGH[SHFWDWLRQVRI
DWWDFKHG WR RXWFRPHV ȉ D VWLOO SRLQW WKDW LV QRW DEVRUEHG LQ WKH ȐKLJKVȑ DQG RWKHUV ȉ QRU ZLOO \RX KDYH WR ZRQGHU ZK\ RWKHUV DUH PRYHG WR OLYH LQ
ȐORZVȑRIDQ\SUHVXPHGHQGLQJVEXWLVFRPPLWWHGWRWKHMRXUQH\WRWKURXJKDQG FRPSOHWHO\ GLIIHUHQW ZD\V WKDQ \RXUVHOI ȉ EHFDXVH \RX ZLOO XQGHUVWDQG WKH
EH\RQG WKRVH ȐHQGLQJVȑ $OPRVW KDOI WKH SHRSOH RQ (DUWK KDYH (PRWLRQDO VHFUHW HVVHQFH WKDW TXLHWO\ PRYHV HDFK RI XV WKURXJK OLIH DQG KRZ WR UHDFK
$XWKRULW\ VR HYHQ LI \RX GR QRW KDYH (PRWLRQDO $XWKRULW\ SHUVRQDOO\ LW LV GLUHFWO\LQWRWKHVRXUFHRI\RXURZQIXOILOOPHQW
OLNHO\ WKDW \RXU UHODWLRQVKLSV DQG LQWHUDFWLRQV ZLWK PDQ\ RI WKH SHRSOH DURXQG /LNH WKH FRGLQJ LQ \RXU JHQHWLFV \RXU /LIH 7KHPH LV VRPHWKLQJ WKDW
\RXZLOOLQYROYHILQGLQJHPRWLRQDOFODULW\DVHPRWLRQVWHQGWRRYHUULGHDOPRVW UHVRQDWHVZLWKLQ\RXUZKROHEHLQJRQSK\VLFDOPHQWDOHPRWLRQDODQGVSLULWXDO
HYHU\GHFLVLRQPDNLQJSURFHVV OHYHOV :KHQ \RX DWWXQH \RXU DZDUHQHVV WR \RXU /LIH 7KHPH \RX ZLOO ILQG LW
FRPSOHWHO\ QDWXUDO WR HPEUDFH <RX ZLOO ILQDOO\ XQGHUVWDQG \RXU OLIHȍV SXUSRVH
DQGMRXUQH\DQGRQFH\RXNQRZ\RXURZQ/LIH7KHPH\RXZLOOEHIDVFLQDWHGWR
6DFUDO$XWKRULW\ OHDUQ WKH WKHPHV RI HYHU\RQH LQ \RXU OLIH 7KLV NQRZOHGJH H[SDQGV \RXU
DSSUHFLDWLRQWRLQFOXGHWKHH[WUDRUGLQDU\WDSHVWU\RIWKHPHVWKDWJXLGHWKHOLYHV
,I\RXU(PRWLRQV&HQWHULVXQGHILQHGFRORUHGZKLWHEXW\RXU6DFUDO&HQWHULV RISHRSOHDURXQG\RX7KHUHDUHQRȐJRRGȑWKHPHVDQGQRȐEDGȑWKHPHV7KHUH
GHILQHGFRORUHGLQWKHQ\RXKDYH6DFUDO$XWKRULW\7KLV$XWKRULW\LVEDVHGLQ DUHMXVWGLIIHUHQWSDUWVWRSOD\ZLWKLQWKHPDLQ6\PSKRQ\RI/LIHLWVHOI
+2:72'(7(50,1(<285/,)(7+(0( KDUQHVV\RXUHQHUJ\DQGDWWHQWLRQIRUZKHQWKH\DUHUHDOO\QHHGHG
7RORFDWH\RXU/LIH7KHPHDFDOFXODWLRQLVPDGHWRILQGWKHH[DFWSODFHPHQWRI
WKH6XQUHODWLYHWRWKH(DUWKDWWKHPRPHQWRI\RXUELUWKIRUPRUHRQWKLVVHH 5HIOHFWRU
Ȑ+RZ/LIH7KHPHV&RPHWR%HȑEHORZ,QRWKHUZRUGV\RXMXVWQHHGWRNQRZ
\RXUELUWKGDWHELUWKSODFHDQGLGHDOO\\RXUELUWKWLPH ,I \RX KDYH D 5HIOHFWRU /LIH &KDUW \RX DUH RQH RI WKH PRVW UHFHSWLYH SHRSOH
7R PDNH WKLV FDOFXODWLRQ VLPSOH DQG HDV\ ZHȍYH GRQH WKH PDWK IRU \RX DOLYH 7KURXJK \RXU UHFHSWLYLW\ \RX KDYH WKH SRWHQWLDO WR EH WKH ZLVHVW RI WKH
:LWK \RXU ELUWK LQIRUPDWLRQ LQ KDQG JR WR RXU ZHEVLWH ZLVH H[SHULHQFLQJ \RXU OLIH DV D UHIOHFWLRQ RI \RXU HQYLURQPHQW DQG WKRVH
ZZZKXPDQGHVLJQIRUXVDOOFRP7KHKRPHSDJHFRQWDLQVDOLQNIRUDIUHHUHSRUW DURXQG \RX <RX DUH MXVW OLNHD PLUURU UHIOHFWLQJ RWKHU SHRSOHȍV FKDUDFWHULVWLFV
ZKLFK ZLOO EH VHQW WR \RX E\ HPDLO $OWHUQDWLYHO\ \RX FDQ DFFHVV RXU EDFNWRWKHPJLYLQJWKHPDSHUIHFWO\FOHDUYLHZLQJRIWKHPVHOYHVRIWHQLWPLJKW
VPDUWSKRQH RU WDEOHW DSS RU RXU /LIH 7KHPH &DOFXODWRU )RU GHWDLOV YLVLW VHHPIRUWKHILUVWWLPH%HLQJVRRSHQUHFHSWLYHDQGDYDLODEOHDOVREULQJVZLWKLW
ZZZKXPDQGHVLJQIRUXVDOOFRP DQ HQRUPRXV YXOQHUDELOLW\ HVSHFLDOO\ LI \RX KDYH EHHQ WROG WR EHKDYH OLNH
<RXU UHSRUW ZLOO LQFOXGH D FRS\ RI \RXU HQWLUH +XPDQ 'HVLJQ /LIH &KDUW HYHU\RQH DURXQG \RX 5HIOHFWRUV PDNH XS OHVV WKDQ SHUFHQW RI WKH ZRUOGȍV
ZKLFK LGHQWLILHV WKH YDULRXV ȐNH\Vȑ WKDW DUH \RXU SHUVRQDO FRGHV IRU OLYLQJ D SRSXODWLRQVR OHWȍV EHFOHDUWKDW\RX KDYHFRPPLWWHGWROLYLQJ D YHU\ GLIIHUHQW
VXFFHVVIXO OLIH 7KHVH LQFOXGH \RXU Ȑ7\SHȑ Ȑ$XWKRULW\ȑ Ȑ3URILOHȑ DQG Ȑ/LIH OLIH
7KHPHȑ $OO IRXU SURYLGH HVVHQWLDO LQIRUPDWLRQ DQG QHHG WR EH FRQVLGHUHG <RXRIWHQVHQVHWKLQJVLQ\RXUHQYLURQPHQWWKDWRWKHUVPLVV<RXPD\HYHQ
WRJHWKHU 7KH %RRN RI 'HVWLQLHV LV GHYRWHG WR GHVFULELQJ IXOO\ DOO /LIH DEVRUERWKHUSHRSOHȍVWKRXJKWVIHHOLQJVPRWLYDWLRQVZDQWVPDQLIHVWDWLRQVDQG
7KHPHV ZKLOH +XPDQ 'HVLJQ 'LVFRYHU WKH 3HUVRQ <RX :HUH %RUQ WR %H RWKHUWKLQJVDQG\RXFDQHDVLO\EHFRPHRYHUZKHOPHGE\WKHLQWHUQDOVHQVDWLRQV
GLVFXVVHVWKHRWKHUWKUHH7KHVHRWKHUWKUHHNH\VDUHDOVRH[SODLQHGEULHIO\EHORZ RI RWKHUV ZKLFK EHFRPH \RXU RZQ LI \RX DUH QRW FDUHIXO )LQGLQJ WLPH WR EH
DQGRQRXUZHEVLWH DORQH RQ D GDLO\ EDVLV ZLOO KHOS \RX WR UHPDLQFOHDU DQG XQLQIOXHQFHG E\ RWKHU
%HFDXVH\RXU/LIH7KHPHWKUHDGVWKURXJKRXW\RXUHQWLUHEHLQJLQIRUPLQJWKH SHRSOH DQG WDNLQJ WLPH WR DFWLYHO\ UHOHDVH DQ\RQH RU DQ\WKLQJ WKDW DSSHDUV
HVVHQWLDOPHDQLQJDQGSXUSRVHRI\RXUOLIHLWLVDYLWDOȐNH\ȑ RYHUZKHOPLQJLVHVVHQWLDO
1RWH WKDW LI \RX GR QRW NQRZ \RXU ELUWK WLPH \RX FDQ VWLOO JHW DQ DFFXUDWH $VRQHRIWKH PRVWVHQVLWLYHSHRSOH RQWKHSODQHW \RXKDYHSUREDEO\ EHHQ
/LIH7KHPH2QWKHZHEVLWHMXVWHQWHUQRRQIRUWKHGD\RI\RXUELUWK,QPRVW PLVXQGHUVWRRGDOO\RXUOLIHDV\RXQDWXUDOO\JRDERXWUHIOHFWLQJWKHZRUOGEDFNWR
FDVHVWKLVZLOOUHVXOWLQWKHFRUUHFW/LIH7KHPHZKLFKZLOOUHVRQDWHGHHSO\ZLWK LWVHOI0XFKDVHYHU\RQHZRXOGOLNHWRKDYH\RXUZLVHLQSXWRQWKHLUOLYHVLWLV
\RX7KHQLI\RXODWHUGLVFRYHU\RXUDFWXDOELUWKWLPH\RXFDQRUGHUDVHFRQG LPSRUWDQWWKDW\RXVHWERXQGDULHV7KHVHERXQGDULHVZLOOFHUWDLQO\LQYROYH\RXU
IUHH+XPDQ'HVLJQ/LIH&KDUWDQGGRXEOHFKHFNWKHUHVXOWV OLYLQJVLWXDWLRQDQGPRVWSUREDEO\DQ\ZRUNHQYLURQPHQWWRR:KHUHSRVVLEOH
2QHZD\WRILQGRXW\RXUH[DFWELUWKWLPHLVWRRUGHUDFRS\RI\RXUȐORQJ \RXQHHGWRKDYH\RXURZQURRPSUHIHUDEO\\RXURZQDUHDRIDKRXVHDQGQRW
IRUPȑ ELUWK FHUWLILFDWH <RX FDQ JHW WKLV IURP WKH FRXQW\ FOHUNȍV RIILFH LQ WKH OLYH LQ DQ DSDUWPHQW FRPSOH[ RU LQ FORVH UDQJH RI RWKHU SHRSOHȍV HQHUJHWLF
SODFHZKHUH\RXZHUHERUQ7KHPRUHFRPPRQȐVKRUWIRUPȑELUWKFHUWLILFDWHLV LQIOXHQFHV
XVHG IRU LGHQWLILFDWLRQ SXUSRVHV DQG GRHV QRW LQFOXGH \RXU ELUWK WLPH :KHQ\RXJLYH\RXUVHOIWLPHHYHU\GD\WRUHIOHFWRQ\RXUH[SHULHQFHV\RX
$OWHUQDWLYHO\KRVSLWDOVNHHSUHFRUGVRIELUWKWLPHVDQGLI\RXNQRZWKHKRVSLWDO ZLOOILQG\RXUGD\LVILOOHGZLWKJHPVRIPHDQLQJDQGWUXWK7KHVHJHPVEHFRPH
ZKHUH\RXZHUHERUQLWPD\EHDEOHWRSURYLGHWKLV DVWRUHKRXVHRIZLVGRPWKDWFDQEHSDVVHGLQWRWKHZRUOGDQGWKHOLYHVRIDQ\RQH
3DUHQWVDQGFORVHUHODWLYHVPD\DOVRUHPHPEHU\RXUELUWKWLPHRUPD\KDYH ZKRDVNV7KLVLVDOLIHWLPHWRDSSUHFLDWHJUHDWSDWLHQFHDQGWRUHDOL]HWKDW\RX
UHFRUGHGLWLQDEDE\ERRNEXWGRQȍWUHO\RQPHQWDOUHFROOHFWLRQVDORQH:HKDYH KDYHDQLQQHUDJUHHPHQWZLWKOLIHWRWUXVWZKDWHYHULVRIIHUHG7KLVLVQRWWRVD\
IRXQGWKDWPRWKHUVGRQRWDOZD\VUHFDOOWKHLUFKLOGȍVELUWKWLPHDFFXUDWHO\ WKDW \RX DUH SRZHUOHVV EXW WR DFNQRZOHGJH WKH YXOQHUDELOLW\ RI D URVH IORZHU
ZKLFK LV HDVLO\ FUXVKHG LI LW LV QRW JXDUGHG EXW ZKHQ FKHULVKHG QXUWXUHG DQG
WR NHHS XS ZLWK \RX <RX KDYH WKH FDSDELOLW\ WR WDS LQWR \RXU RZQ 6DFUDO /LIH '(&2',1*<285+80$1'(6,*1/,)(&+$57
)RUFH(QHUJ\DQDOPRVWLQGHIDWLJDEOHVRXUFHRIHQHUJ\DQGWROLYHLQDVWDWHRI
<RXUIUHH+XPDQ'HVLJQ/LIH&KDUWZLOOKDYHDORWRILQIRUPDWLRQDQGORRNOLNH
EOLVVDQGFRQWHQWPHQW ZKHQ \RXIROORZ \RXUQDWXUDOZD\ RIOLYLQJUHVSRQGLQJ
WKLVH[DPSOH
DQGWHVWLQJWKHQHQJDJLQJIXOO\RQO\ZKHQFOHDUWRGRVR
3URMHFWRU
,I \RX KDYH D 3URMHFWRU /LIH &KDUW \RX KDYH WKH SRWHQWLDO WR EH D JXLGH ZKR
DOLJQVRWKHUVLQWKHLUOLYHV6WDWLVWLFDOO\3URMHFWRUVDUHLQDPLQRULW\PDNLQJXS
SHUFHQW RI WKH ZRUOGȍV SRSXODWLRQ WKH\ DUH VXUURXQGHG E\ 0DQLIHVWRUV
*HQHUDWRUV DQG 0DQLIHVWLQJ *HQHUDWRUV ZKR DOO KDYH DQ DEXQGDQFH RI HQHUJ\
WKDWLVXVXDOO\VXVWDLQHGRYHUORQJSHULRGVRIHQJDJHPHQW7KLVPDNHVLWGLIILFXOW
IRU D 3URMHFWRU WR LQGXOJH LQ HQGHDYRUV DW WKH VDPH OHYHO DV WKHVH ȐHQHUJ\
7\SHVȑ(YHQLIWKH\KDYHWKHXUJHWRGRVR3URMHFWRUVDUHGHVLJQHGWRRSHUDWH
GLIIHUHQWO\ $V WKH 86 SUHVLGHQWV %DUDFN 2EDPD DQG -RKQ ) .HQQHG\ DPRQJ
RWKHUV KDYH VR DSWO\ GHPRQVWUDWHG WKLV GRHV QRW PHDQ WKDW 3URMHFWRUV IDLO WR
PDQDJH JUHDW DFKLHYHPHQWV LW PHDQV WKDW WKH\ DUH GHVLJQHG WR JR DERXW WKHP
GLIIHUHQWO\
$V D 3URMHFWRU \RX OLYH LQ DQ HQYLURQPHQW RI UHFRJQLWLRQ DQG LQYLWDWLRQ
:KHQDQLQYLWDWLRQFRPHVWR\RXHLWKHUGLUHFWO\RULQGLUHFWO\DQG\RXVHQVH\RX
DUH EHLQJ FDOOHG LQWR VRPHWKLQJ \RX DQG RQO\ \RX FDQ WHOO LI WKDW LQYLWDWLRQ
UHVRQDWHVVSHFLILFDOO\ZLWK\RX
,IWKHLQYLWDWLRQRUFDOOLQJUHVRQDWHVZLWK\RX\RXURZQSHUVRQDO$XWKRULW\
ZLOO LQGLFDWH WR \RX ZKHWKHU RU QRW WR SURFHHG DQG HQJDJH -XPSLQJ LQWR
VLWXDWLRQVZLWKRXWWKLVFODULW\ZLOOOHDYH\RXZLWKDVHQVHRIQRWILWWLQJLQRURI
EHLQJXQDSSUHFLDWHGRUHYHQUHMHFWHG
%HIRUH \RX XQGHUVWDQG \RXU 7\SH \RX PD\ ILQG \RXUVHOI ORQJLQJ IRU
UHFRJQLWLRQ VR PXFK WKDW \RX SXVK \RXUVHOI WR VWDUW LQLWLDWLQJ WKLQJV 7KLV
LQHYLWDEO\ OHDGV WR GLIILFXOWLHV 7KURXJK ZDLWLQJ IRU LQYLWDWLRQV DQG WKH ULJKW
FDOOLQJV \RX QDWXUDOO\ DOLJQ \RXUVHOI ZLWK ULJKW H[SHULHQFHV OLQNLQJ WRJHWKHU 8QGHUQHDWK WKH /LIH &KDUW IRXU VHFWLRQV OLVW \RXU 7\SH $XWKRULW\ 3URILOH
SHRSOHSODFHVDQGDFWLYLWLHVLQDEHQHILFLDOZD\DV\RXSURYLGH\RXUXQLTXHDQG DQG/LIH7KHPH$V,VD\DERYHWKHERRN+XPDQ'HVLJQ'LVFRYHUWKH3HUVRQ
QDWXUDO JXLGDQFH %HFDXVH \RX ODFN WKH VXVWDLQLQJ HQHUJ\ WR EH DFWLYH IRU ORQJ <RX :HUH %RUQ WR %H H[SODLQV 7\SH $XWKRULW\ DQG 3URILOH DORQJ ZLWK RWKHU
SHULRGVRIWLPHDQGEHFDXVH\RXFDQREVHUYHZLWKRXWEHLQJVRFDXJKWXSLQWKH HOHPHQWVLQFRPSOHWHGHWDLO7KLVERRNLVFRQFHUQHGZLWK\RXU/LIH7KHPH7KH
HQHUJ\YRUWH[RIRWKHUV\RXDUHEHVWVXLWHGIRUWKRVHVLWXDWLRQVWKDWFDOOIRU\RXU QDPH RI \RXU /LIH 7KHPH LQFOXGHV WKH WKHPHȍV JURXSLQJ 3HUVRQDO )L[HG RU
JXLGDQFHDQGZLVHDVVLVWDQFH%HLQJFRPIRUWDEOHVWDQGLQJE\RUFKDQJLQJ\RXU ,QWHUSHUVRQDO WKH 6XQȍV 4XDUWHU LQ SDUHQWKHVHV WKH *DWH QXPEHU DQG D
IRFXVIURPRQHVFHQDULRWRDQRWKHULVDQDVVHWWKDWJLYHV\RXWKHRSSRUWXQLW\WR GHVFULSWLYHDVSHFWDFFRUGLQJWRWKH6XQȍVSODFHPHQW
,I\RXKDYHD0DQLIHVWLQJ*HQHUDWRU/LIH&KDUW\RXKDYHDUHVWOHVVHQHUJ\WKDW
RIWHQFDQȍWZDLWWRJHWLQYROYHGZLWKVRPHWKLQJDQ\WKLQJHVSHFLDOO\ZKHQ\RX
KDYH QRWKLQJ WR GR <RX GLVOLNH KROGXSV DQG UHVWULFWLRQV 2I WKH ILYH 7\SHV RI
+XPDQ'HVLJQ\RXUVKDVSHUKDSVWKHPRVWFRPSOH[SURFHVVRIHQJDJHPHQWDQG
LW PD\ WDNH VRPH WLPH IRU \RX WR PDVWHU +RZHYHU RQFH \RX XQGHUVWDQG \RXU
RZQ SDUWLFXODU DSSURDFK WR OLIH \RX ZLOO EH DPD]HG DW KRZ HDV\ LW LV WR EH
IXOILOOHG LQ HYHU\ DFWLRQ $ IHZ /LIH 7KHPHV DXWRPDWLFDOO\ KDYH D 0DQLIHVWLQJ
,Q WKH H[DPSOH DERYH WKH QDPH RI WKH /LIH 7KHPH LQFOXGHV ERWK D *HQHUDWRU7\SHEHFDXVHRIWKH6XQ(DUWKSODFHPHQWV
GHVFULSWLYH WLWOH Ȑ5HILQHPHQWȑ DQG D JURXSLQJ Ȑ,QWHUSHUVRQDOȑ /LIH 7KHPHV /LNHWKH*HQHUDWRU7\SH\RXDOVRKDYHDJXWUHVSRQVHWKDWKDVLWVVRXUFHLQ
KDYH WKUHH SDUWLFXODU JURXSLQJV Ȑ3HUVRQDOȑ Ȑ)L[HGȑ DQG Ȑ,QWHUSHUVRQDOȑ $V \RXUORZHUEHOO\HLWKHUWKHULVLQJHQHUJ\RIDQȐDKKXKȑRU\HVUHVSRQVHRUWKH
\RX ZLOO VHH HDFK QDPHG Ȑ3HUVRQDOȑ /LIH 7KHPH KDV IRXU YDULDWLRQV HDFK IDOOLQJHQHUJ\RIDQȐXQXKȑRUȐQRWQRZȑUHVSRQVH,WLVLPSRUWDQWWKDW\RXSD\
QDPHGȐ,QWHUSHUVRQDOȑ/LIH7KHPHKDVWZRYDULDWLRQVDQGHDFKQDPHGȐ)L[HGȑ DWWHQWLRQ WR \RXU JXW UHVSRQVH EHIRUH HQJDJLQJ \RXU FRQVLGHUDEOH HQHUJ\ ZLWK
/LIH 7KHPH DSSHDUV RQO\ RQFH 7KH QXPEHU LQ SDUHQWKHVHV UHODWHV WR WKH DQ\WKLQJHVSHFLDOO\LI\RXJHWDȐQRWQRZȑVLJQDO7UXVWWKLVDQGZDLWIRU\RXU
4XDUWHURIWKHVN\LQZKLFKWKH6XQLVSODFHG7KHV\PEROIRUWKH6XQLV DQG QH[WUHVSRQVH$QWV\E\QDWXUH\RXPD\KDYHWKHWHQGHQF\WRPDQLIHVWEHIRUH
WKHV\PEROIRU(DUWKLV JHWWLQJ\RXULQQHUȐJUHHQOLJKWȑWRSURFHHG+RZHYHUMXPSLQJDKHDGRI\RXUVHOI
DQG\RXUFODULW\FDQKDYHDQ\ZKHUHIURPGLVDSSRLQWLQJWRGUDVWLFFRQVHTXHQFHV
IRU\RXUVHOIDQGHYHU\RQHDURXQG\RX
<RXKDYHDWZRVWHSSURFHVVWRILQGLQJ\RXUFODULW\DERXWDQ\FKRLFH)LUVW
LI\RXDUHJHWWLQJDȐ\HVȑUHVSRQVH\RXDUHEHLQJJLYHQDȐKHDGVXSȑ$OHYHORI
LQWHUHVWKDVEHHQWULJJHUHGLQ\RXDQG\RXQRZKDYHWKHSRWHQWLDOWRHQJDJHDQG
$OWKRXJKWKHRWKHUQXPEHUVLQIOXHQFH\RXU/LIH7KHPH\RXFDQLJQRUHWKHP
EH LQYROYHG LQ ZKDWHYHU HOLFLWHG \RXU UHVSRQVH 7KLV LV D ILUVW VWHS RQO\ )URP
DQG IRFXV RQ \RXU 6XQLQ *DWH SRVLWLRQ7R ILQG\RXU /LIH 7KHPH ORFDWH \RXU
WKLVUHVSRQVHFRPHVWKHXUJHWRVWHSWRZDUGZKDWGUHZ\RXUUHVSRQVHDQGDV\RX
6XQLQ*DWHSRVLWLRQȉLQWKLVH[DPSOHȉDQGWKHQ\RXUJURXSLQJRUNLQGRI
PDNH WKDW VHFRQG VWHS \RX VHQVH ZKHWKHU \RX DUH SUHSDUHG WR FKDQJH DQ
/LIH7KHPH3HUVRQDO)L[HGRU,QWHUSHUVRQDO+HUHȍVKRZWKLVH[DPSOHZRXOG
HQHUJHWLFUHVSRQVHLQWRDIXOOEORZQPDQLIHVWDWLRQ,WPD\WDNHVHYHUDOVWHSVOLNH
DSSHDULQWKHWDEOHRIFRQWHQWV
WKLV FKHFNLQJ HDFK WLPH ZKHWKHU WR SURFHHG IXUWKHU RU QRW :KLOH LQ PRWLRQ
WKHUH DUULYHV ZKDW FDQ EH FDOOHG D ȐPRPHQW RI WUXWKȑ LQ ZKLFK \RX VHQVH LQ
\RXUVHOI ZKHWKHU WR SURFHHG DQG PDQLIHVW RU VWHS EDFN DQG RXW RI DQ\ IXUWKHU
7KH,QWHUSHUVRQDO/LIH7KHPHRI5HILQHPHQW HQJDJHPHQW,WFDQIHHODELWOLNHDȐHXUHNDȑPRPHQW\RXDUHVLPSO\ȐFOHDUWR
SURFHHGȑDQG\RXNQRZLW
7KLV FDQ EH FRQIXVLQJ IRU SHRSOH ZKR ZDWFK \RXU SURFHVV DQG H[SHFW WKDW
7KHVXSHUVFULSWQXPEHUVIURPWRUHIHUWRWKHSDUWLFXODUOLQHSODFHPHQW \RXDUHFRPSOHWHO\FRPPLWWHGWRZDUGDFRXUVHRIDFWLRQZKHQDFWXDOO\\RXDUH
ZLWKLQHDFK,&KLQJKH[DJUDPRU+XPDQ'HVLJQ*DWH VWLOO LQ WHVWLQJ PRGH DQG FDQ EDFN DZD\ IURP IXUWKHU FRPPLWPHQW DW DQ\ WLPH
$ IXOO GHVFULSWLRQ RI HDFK OLQH LV JLYHQ LQ RXU VHFRQG ERRN 7KH %RRN RI 2QFHHQJDJHGZLWKVRPHRQHRUVRPHWKLQJKRZHYHU\RXDUHDZKLUORIDFWLYLW\
/LQHV$VW&HQWXU\9LHZRIWKH,&KLQJWKH&KLQHVH%RRNRI&KDQJHV DFFRPSOLVKLQJ DOO NLQGV RI WKLQJV DQG FDWDO\]LQJ HYHU\ERG\ HOVH LQWR DFWLRQ DV
ZHOO
7+(7+5((.,1'62)/,)(7+(0(6 :KLOH\RXKDYHDKXJHDEXQGDQFHRIHQHUJ\DQGDUHHDVLO\DEOHWRFDUU\RQ
(DFK RI WKH VL[W\IRXU JHQHWLF FRGRQV LQ WKH KXPDQ PDNHXS FRUUHVSRQG WR WKH ORQJSDVWWKHIDWLJXHSRLQWRIRWKHUVEHFDUHIXODERXWH[SHFWLQJRWKHUVWREHDEOH
VL[W\IRXU 6XQ *DWH SRVLWLRQV DQG HDFK KDV WKUHH NLQGV RI /LIH 7KHPH
*HQHUDWRU Ȑ3HUVRQDOȑȐ)L[HGȑDQGȐ,QWHUSHUVRQDOȑ
,I\RXKDYHD*HQHUDWRU/LIH&KDUWWKHQ\RXSRVVHVVWKHVLPSOHVWSURFHVVLQWKDW
\RX DUH ȐGHVLJQHG WR UHVSRQGȑ WR DOO RI OLIHȍV RIIHULQJV ȉ EHIRUH \RX HQJDJH
\RXU SRZHUKRXVH HQHUJ\ 7KLV UHVSRQVH LV VRPHWKLQJ WKDW FRPHV IURP \RXU
ORZHU EHOO\ \RXU 6DFUDO &HQWHU DQG FDQ EH GHVFULEHG DV D ȐJXW UHVSRQVHȑ $OO
*HQHUDWRU /LIH &KDUWV KDYH WKLV LQKHUHQW 6DFUDO JXW UHVSRQVH KRZHYHU WKLV LV
QRW DXWRPDWLFDOO\ WKHLU $XWKRULW\ RU GHFLVLRQPDNLQJ SURFHVV DV GHVFULEHG
EHORZ$JXWUHVSRQVHKDVWZRSRVVLELOLWLHV\RXUHVSRQGZLWKDULVLQJRIHQHUJ\
IURP \RXU ORZHU EHOO\ DQ HQHUJHWLF ȐDKKXKȑ RU Ȑ\HVȑ VLJQDO WR FRPPLW
,I\RXUVLVD3HUVRQDO/LIH7KHPH\RXDUHRQDMRXUQH\RIVHOIGLVFRYHU\\RX
\RXUVHOIRU\RXIHHODIDOOLQJRIHQHUJ\LQ\RXUORZHUEHOO\DQHQHUJHWLFȐXQXKȑ
SXUVXH D KDQGVRQ H[SORUDWLRQ RI WKH PXOWLSOLFLW\ RI LQWHUHVWLQJ WKLQJV WKDW OLIH
VLJQDOWKDWLPSOLHVȐQRWQRZȑ:KHQ\RXJHWDȐQRWQRZȑVLJQDOGRQȍWHQJDJHDW
RIIHUV<RXEUHDNQHZERXQGVDQGDUHQRWDOZD\VSULY\WRWKHLPSOLFDWLRQVRIWKH
OHDVW IRU WKH WLPH EHLQJ ,I QRWKLQJ PRYHV ZLWKLQ \RX DW DOO WKHQ \RX DUH QRW
HIIHFWVRI\RXUDFWLYLWLHVRQRWKHUVZKHWKHULQSDVWSUHVHQWRUIXWXUHLQVWDQFHV
LQYROYHG
(DFK 3HUVRQDO /LIH 7KHPH DSSHDUV IRXU WLPHV DW HTXDOO\ VSDFHG WKUHHPRQWK
<RX DUH FRQVWDQWO\ JHQHUDWLQJ OLIH IRUFH HQHUJ\ LQ \RXU GHILQHG 6DFUDO
LQWHUYDOVLQD\HDU7KXVIRXUYDULDWLRQVRIHDFK3HUVRQDO/LIH7KHPHDSSHDULQ
&HQWHU DQG WKLV HQHUJ\ LV DOZD\V DYDLODEOH IRU \RX ZDLWLQJ IRU WKH ULJKW
WKLV ERRN 6LQFH VRPH RI WKH LQIRUPDWLRQ LV WKH VDPH IRU HDFK 3HUVRQDO /LIH
RIIHULQJV WKDW HOLFLW D Ȑ\HVȑ JXW UHVSRQVH 7KLV DPD]LQJ *HQHUDWRU HQHUJ\ RI
7KHPHYDULDWLRQWKLVPDWHULDOLVUHSHDWHGHDFKWLPHIRUHDVHRIUHDGLQJ
\RXUVGRHVQȍWVWRSRQFHLWȍVHQJDJHGZLWKVRPHWKLQJDQGWKLVPRPHQWXPFDUULHV
\RX ZKHQHYHU \RX FRPPLW \RXUVHOI 2QFH HQJDJHG TXLWWLQJ LV QRW DQ HDV\
RSWLRQ5HPHPEHUWRUHVSHFW\RXUJXWUHVSRQVHWRWHOO\RXDWDQ\PRPHQWZKR
DQGZKDWUHVRQDWHVZLWK\RXDQGZKRDQGZKDWGRHVQRW
:KHQ \RX GLVUHJDUG \RXU LQWHUQDO ȐJXW UHVSRQVHȑ JXLGDQFH V\VWHP DQG
FRPPLW \RXUVHOI WR DQ\RQH RU DQ\WKLQJ \RX ZLOO PRVW OLNHO\ HQG XS H[KDXVWHG
DQG GLVVDWLVILHG ZLWK ZKDWHYHU WUDQVSLUHV :KHQ \RX IDLO WR IROORZ \RXU LQQHU
JXLGHSHRSOHPD\WDNHDGYDQWDJHRI\RXUVHHPLQJO\OLPLWOHVVHQHUJ\<RXFDQ
ILQG \RXUVHOI PDNLQJ D VXEWOH DJUHHPHQW ZLWK WKHP WKDW \RX DUH JRLQJ WR XVH
\RXUFRQVLGHUDEOHHQHUJ\WRGRHYHU\WKLQJIRUWKHP ,I\RXKDSSHQWRKDYHRQHRIWKHYHU\UDUH)L[HG/LIH7KHPHV\RXKROGDYHU\
%HFDXVHZHKDYHDOOEHHQWUDLQHGWRXVHRXUPLQGVWRPDNHFKRLFHVLWZLOO VSHFLILF FKDUDFWHULVWLF RI WKH KXPDQ H[SHULHQFH <RX KDYH DQ H[DFW IL[HG
WDNHDZDUHQHVVDQGSUDFWLFHWRPDVWHU\RXUQDWXUDOZD\RIEHLQJ0RYLQJ\RXU WUDMHFWRU\WKURXJKOLIHDQGPXVWKROGWRWKDWWUDMHFWRU\,QDZRUOGWKDWLVIXOORI
DZDUHQHVV IURP WKH PLQG WR \RXU ORZHU EHOO\ ZKHQ PDNLQJ GHFLVLRQV EHFRPHV ȐJRRGDGYLFHȑȉIXOORIDOONLQGVRIUXOHVDQGUHJXODWLRQVGRJPDVDQGFUHHGVȉ
HVVHQWLDOSUDFWLFHIRU\RX LWLVLPSRUWDQWIRUWKRVHUDUHEHLQJVZKRKDYHD)L[HG/LIH7KHPHWRNQRZDERXW
6LPSOH DV LW VRXQGV WUXVWLQJ \RXU JXW UHVSRQVH LV JRLQJ WR WUDQVIRUP \RXU LWKRQRULWDERYHDOOWKLQJVDQGVWD\WUXHWRLWUHJDUGOHVV(DFKRIWKHVL[W\IRXU
OLIH )L[HG/LIH7KHPHVKDSSHQVGXULQJDVSDFHLQWLPHRIMXVWXQGHUWKUHHKRXUVRQFH
D\HDUKHQFH)L[HG/LIH7KHPHVDUHYHU\SDUWLFXODUDQGYHU\UDUH
0DQLIHVWLQJ*HQHUDWRU
GHILQHGFRORUHGLQDQGZKLFKSDUWVDUHXQGHILQHGFRORUHGZKLWH<RXU7\SHLV
HVVHQWLDOO\DGHVFULSWLRQRI\RXURYHUDOOQDWXUHKRZ\RXDFFHVVDQGXVHHQHUJ\
WR OLYH \RXU OLIH HDVLO\ 1R RQH 7\SH LV EHWWHU WKDQ DQ\ RWKHU DQG DOO DUH
GHVFULEHGPRUHIXOO\LQP\SUHYLRXVERRN+XPDQ'HVLJQ
7KH ILYH 7\SHV DUH DV IROORZV 0DQLIHVWRU *HQHUDWRU 0DQLIHVWLQJ
*HQHUDWRU3URMHFWRUDQG5HIOHFWRU
7KRVH ZLWK DQ ,QWHUSHUVRQDO /LIH 7KHPH WDNH RQ D VXSHUYLVLQJ UROH ZLWK RWKHU 0DQLIHVWRU
SHRSOHSURYLGLQJOHDGHUVKLSDQGHGXFDWLRQRUWDNLQJRQSRVLWLRQVRIDXWKRULW\LQ
RWKHUSHRSOHȍVDIIDLUV<RXRIWHQFOHDQXSRWKHUSHRSOHȍVPHVVHVDQGWDNHFKDUJH
,I\RXKDYHD0DQLIHVWRU/LIH&KDUWDFWLYLW\LV\RXUZD\ZKHWKHULWLV\RXUVHOI
ZKHWKHUZLOOLQJO\EHFDXVHLWDSSHDUVWREHHDV\DQGQDWXUDOIRU\RXWRGRVRRU
LQ PRWLRQ RU DFWLYDWLQJ PRYHPHQW LQ RWKHUV %HFDXVH \RX KDYH D QDWXUDO
UHOXFWDQWO\EHFDXVHQRRQHHOVHLVTXDOLILHGWRGRLW<RXUUROHZLOOQDWXUDOO\EHDV
DEXQGDQFH RI HQHUJ\ WKDW FDWDO\]HV DFWLYLW\ LQ WKH ZRUOG DURXQG \RX \RX
D JXLGH D ZD\VKRZHU D WHDFKHU D ZLVH DGYLVRU RU D OHDGHU ZLWK WKH
PDQLIHVWOLIHWRPRYHWRZDUGZKHUHYHU\RXVHW\RXULQWHQWLRQV
UHVSRQVLELOLW\ WR DGYLVH RWKHUV (DFK ,QWHUSHUVRQDO /LIH 7KHPH DSSHDUV WZLFH D
\HDU H[DFWO\ VL[ PRQWKV DSDUW 7KXV WZR YDULDWLRQV RI HDFK ,QWHUSHUVRQDO /LIH $V D 0DQLIHVWRU \RX KDYH FRQVLVWHQW DFFHVV WR D XQLTXHO\ SRZHUIXO GULYH
WKDWFUHDWHVUHVXOWVDQGZKHQ\RXLQFOXGHRWKHUVLQ\RXUFUHDWLRQV\RXLQVSLUHD
7KHPHDSSHDULQWKLVERRN6LQFHVRPHRIWKHLQIRUPDWLRQLVWKHVDPHIRUHDFK
FRRSHUDWLYHWHDPRIVXSSRUW+RZHYHU\RXFDQEHVRTXLFNWRDFWWKDW\RXILQG
,QWHUSHUVRQDO/LIH7KHPHYDULDWLRQWKLVPDWHULDOLVUHSHDWHGHDFKWLPHIRUHDVH
\RXUVHOI JHWWLQJ DKHDG RI HYHU\ERG\ HOVH RIWHQ WDNLQJ RQ RWKHUVȍ ZRUN DQG
RIUHDGLQJ
UHVSRQVLELOLWLHV WR MXVW ȐJHW LW GRQHȑ $QG KDYLQJ OHIW HYHU\ERG\ EHKLQG \RX
,W PXVW EH XQGHUVWRRG WKDW QR /LIH 7KHPH LV DQ\ EHWWHU RU PRUH LPSRUWDQW
PD\ILQGWKDWWKH\EHJLQWRKROGUHVHQWPHQWWRZDUG\RX:KHQ\RXJHWLPSDWLHQW
WKDQDQ\RWKHU+RZHYHUDPRQJWKHZRUOGȍVSRSXODWLRQ3HUVRQDO/LIH7KHPHV
DSSHDUPRUHIUHTXHQWO\WKDQ,QWHUSHUVRQDORQHVDQGWKH)L[HG/LIH7KHPHVDUH ZLWK RWKHUVȍ ODFN RI VSHHG RU SURGXFWLYLW\ DQG FKRRVH WR WDNH RYHU WKHLU
UHVSRQVLELOLWLHV \RXȍOO DOLHQDWH WKRVH ZKR FRXOG SRWHQWLDOO\ DVVLVW LQ \RXU
PXFKUDUHU
HQGHDYRUV
:KDWLVHVVHQWLDOLVWRDSSUHFLDWHKRZYHU\SDUWLFXODUDQGUHILQHG\RXU/LIH
<RX PD\ KDYH QRWLFHG RWKHUVȍ VLOHQW FRQFHUQ RYHU HYHQ IHDU RI \RXU
7KHPH LV 2QFH \RX IXOO\ HPEUDFH \RXU /LIH 7KHPH \RX QDWXUDOO\ OHW JR RI
PDQLIHVWLQJ SRZHU ȉ KRZ \RX FDQ JHW WKLQJV LQ PRWLRQ ZKHUHDV WKH\ FDQQRW
UHVLVWDQFH DQG QHHGOHVV HQWDQJOHPHQWV $FFHSWLQJ DQG LQGXOJLQJ \RXU /LIH
7KH\ PD\ KDUERU FRQFHUQVWKDW \RXZLOO PDQLIHVW VRPHWKLQJ WKDWFKDQJHV WKHLU
7KHPHȍV DWWULEXWHV ZLOO JXLGH \RX WR HIIRUWOHVVO\ HPEUDFH \RXU XQLTXH MRXUQH\
OLYHVFRPSOHWHO\DQGLQZD\VWKH\ZLOOQRWDSSUHFLDWH7KH\PD\HYHQJRVRIDU
WKURXJKOLIH2QFH\RXKDYHIRXQGLWVLWTXLHWO\ZLWK\RXU/LIH7KHPH
DVWREORFN\RXUPRYHPHQWVDQGDFWLYLWLHVFDXVLQJ\RXWRHLWKHUIRUFH\RXUZD\
)RUWKHPDQ\SHRSOHZHKDYHSURYLGHGSHUVRQDOUHDGLQJVDQGPHQWRULQJWR
WKURXJK SXW DOO \RXU HQHUJ\ LQWR DYRLGLQJ WKHP FRPSOHWHO\ RU ZRUVH JLYH LQ
RYHU WKH SDVW WZR GHFDGHV D SURIRXQG UHFRJQLWLRQ LV H[SHULHQFHG XSRQ ILUVW
DQG EHFRPH WKHLU SHUVRQDO 0DQLIHVWRU GRLQJ HYHU\WKLQJ IRU WKHP DQG QRWKLQJ
KHDULQJDERXWWKHLU/LIH7KHPH2IWHQRXUFOLHQWVKDYHWHDUVUXQQLQJGRZQWKHLU
IRU\RXUVHOI:KHQRWKHUVDSSHDUXQFHUWDLQDERXWZKDW\RXDUHJRLQJWRGRQH[W
IDFHVȉWHDUVRIUHFRJQLWLRQRIUHOLHIDWILQDOO\KDYLQJWKDWHYHUSUHVHQWORQJLQJ
LQWKHLUKHDUWDQGZRUOGQDPHG JLYH WKHP VRPH LQIRUPDWLRQ DERXW \RXU LQWHQWLRQV DQG \RX ZLOO ILQG WKDW QRW
RQO\ZLOOWKH\JHWRXWRI\RXUZD\WKH\PD\VXGGHQO\EHNHHQWRDVVLVW\RX,W
FDQEHDORWRIIXQEHLQJDURXQGD0DQLIHVWRU:KRNQRZVZKDWPLJKWKDSSHQ
7+(),9(7<3(62)+80$1'(6,*1/,)(&+$576 QH[W"
,Q WKH +XPDQ 'HVLJQ V\VWHP /LIH &KDUWV DUH FDWHJRUL]HG LQWR ILYH Ȑ7\SHVȑ
7KHVH7\SHVDUHLGHQWLILHGE\FRPSDULQJZKLFKSDUWLFXODUSDUWVRIWKHFKDUWDUH