LCA.

I- 120/2013 HIGH COURT OF KARNATAKA,

HIGH COURT BUILDING
BENGALURU,
Dated: 23.09.2019

CIRCULAR No. 04/2019

Sub:- Directions to the District Judiciary to implement the

scheme of Victim Compensation under Section 357 &
357-A of Cr.P.C. – reg.
-------

The Hon’ble High Court of Karnataka vide its order dated 29.08.2019
passed in Criminal Appeal No.770/2013 while allowing the Appeal has directed
the District Judiciary to implement the scheme of Victim Compensation, by
keeping in mind the very object of the statute and award appropriate
compensation to the Victim under Section 357 & 357-A of Cr.P.C.

Therefore, all Judicial Officers in the State are hereby instructed to

follow the guidelines issued in the said judgment and also directed to comply
with the object and intent of Sections 357 and 357-A of Cr.P.C., while
awarding compensation to the Victims under Victim Compensation Scheme.

Further, you are requested to circulate the same amongst all the
Judicial Officers coming under your units, for information and necessary
action.

BY ORDER OF THE HON’BLE CHIEF JUSTICE,

Sd/-
(V.SRISHANANDA)
REGISTRAR GENERAL

Contd….2
 -2-

Copy to (through e-mail):-

1. The Registrar (Judicial), Registrar (Vigilance), Registrar (Review & Statistics),

Registrar (Administration), Registrar (Computers), Registrar (Recruitment),
Registrar (Infrastructure & Maintenance).
2. The Central Project Co-ordinator, with a request to web-host the Circular in
the High Court official website.

Copy for information and necessary action to (through e-mail):

3. The Prl. City Civil & Sessions Judge, Bengaluru City and all the Prl. District
& Sessions Judges in the State.
4. The Registrar, Karnataka Appellate Tribunal, Bengaluru.
5. The Registrar, Karnataka Administrative Tribunal, Bengaluru.
6. The Secretary, Karnataka State Legal Services Authority, Bengaluru.
7. The Director, Mediation Center and the Karnataka Judicial Academy
Bengaluru.
8. The Director, Arbitration Center, Bengaluru.
9. Circular copy.
10. Office copy.
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/0 122314 /0 5/436 7 144389/89 3 :;69<38 =5

17>;/ 14 210036 /8 ?/</814 22314 = *)- ( 61 36

* " =8 3 5/43 =5 66/ /=814 /0 ?/7 186 300/=80

;693 1@0 /81 188161 18914=?3 186 2?1A36 =

7=85/?< 3 :;69<38 61 36 ( 210036 BA 3

/C/4 ;693 % ? 8' 186 ==6B/6?/ /8

 "

= !- * 186 2100 0;7 = 3? =?63? 10 3 =8DB43

=;? 633<0 5/ /8 3 517 0 186 7/?7;<0 18730 =5 3 7103

3 B?/35 517 0 =5 3 7103 /0 1 E =8 !

1 1B=; " 2< 3 5/?0 /85=?<18 10 =81861 ==4A1

10 9/C38 3 0 1 3<38 = ==61B/6?/ =4/73 1 3 /0

?30/6/89 831? 123? /44 =01B3 ; /44193 14=89 F/ /0

51</4A /0 B?= 3? /0 F181 1 186 /0 F/53 1?/81@0 /

8 1 61A 3 7=<241/818 16 B338 = 3 =;03 =5 /0

B?= 3? /0 F181 1 1 / 3 177;036 = 8 /0 =;03 /0

F/53 1?/81@0 / /0 0/0 3? 1C18/ / 3 177;036 = 186

3? 61;9 3? 10 =61 F3?3 3?3 77;036 = F10 /80/63

3 ?==< 3?3 F10 14 3?71 /=8 B3 F338 3 7=<241/818

186 /0 0/0 3? 1C18/ /8 3 <1 3? =5 21? / /=8/89 3

/<<=C1B43 2?=23? A 8 3 <318 /<3 177;036 = 71<3

=; =5 3 =;03 186 71;9 =46 =5 3 7=<241/818

/9 4A 8 3 <318 /<3 177;036 = B?=;9 1 0/7@43

5?=< /80/63 186 1001;4 36 3 7=<241/818 =8 /0 1860

186 4390 186 71;036 B4336/89 /8:;?/30 0 1 ?30;4 3

7=<241/818 5344 6=F8 77;036 = 71<3 3?3 186

 *

191/8 1001;4 36 /< =8 144 3 21? 0 =5 3 B=6A 3

?3>;30 36 3 2=4/73 = 1@3 17 /=8 191/80 3<

" 1036 =8 3 /85=?<1 /=8 9/C38 = 2=4/73 2=4/73

1C3 ?39/0 3?36 3 7103 191/80 B= 3 177;036 5=? 3

=5538730 2;8/0 1B43 ;863? 37 /=80 " * 186 " ( ?316 F/

"* =5 86/18 3814 =63 =4/73 140= 7=86;7 36 02=

<1 1G1? 186 6?1F8 3 02= 0@3 7 186 140= ?37=?636 3

0 1 3<38 =5 F/ 830030 5 3? 7=4437 /89 3 6=7;<38 0 186

=8 7=<243 /=8 =5 3 /8C30 /91 /=8 3 2=4/73 1C3 5/436 3

7 1?93 0 33 191/80 177;036 23?0=80 5=? 3 1B=C3

=5538730

* 3 177;036 6/6 8= 24316 9;/4 A 186 3873

2?=037; /=8 10 3H1</836 F/ 830030 10 #0 = + 186

9= <1?@36 6=7;<38 0 H0 = * 186 0= 140= 0 =

" 3 177;036 23?0=80 F3?3 140= 0;B:37 36 = " "

0 1 3<38 = 2; 5=? 3 /87?/</81 /89 <1 3?/14 1C1/41B43

191/80 3< 3 177;036 23?0=80 1C3 140= 3H1</836

=83 F/ 8300 10 #
 )

) 77;036 = /8 /0 0 1 3<38 ;863? 37 /=8 " "

=5 ? 0 1 36 1 # 14=89 F/ # " 71<3 = /0

=;03 186 1 1 /<3 # F10 1?<36 F/ 1 0/7@43

# 63<18636 5=? 21? / /=8 =5 3 2?=23? A 186

?31 3836 1 3 F=;46 7 =2 =55 3 4/<B0 /5 21? / /=8 F10

8= 35537 36 3?315 3? # 1001;4 36 177;036 =

F/ 3 0/7@43 8 3 <318 /<3 177;036 = 2;0 36

3 1860 =5 # 186 10 1 ?30;4 3 0/7@43 5344 6=F8

77;036 = 2/7@36 ;2 3 01/6 0/7@43 # F10

1 3<2 /89 = 1001;4 177;036 = 186 0 3 F10 =46/89

3 0/7@43 = 2?= 37 3?0345 3873 # 16 0;0 1/836

/8:;?/30 77;036 = 10 140= 9/C38 3 01<3 0 1 3<38

;863? 37 /=8 " " =5 ? 77;036 =0 186 6/6 8=

7 ==03 = 38 3? /8 = 3 F/ 8300 B=H 3H732 3H1</8/89

# /3 61;9 3? =5 177;036 =

( 3 ?/14 =;? 15 3? 31?/89 3 1?9;<38 0 =5

B= 7=;8034 7=8C/7 36 3 177;036 5=? 3 =5538730

2;8/0 1B43 ;863? 37 /=80 " * 186 " ( ?316 F/ "* =5

86/18 3814 =63 3 177;036 F3?3 038 38736 =

 (

;863?9= /<2?/0=8<38 5=? F= A31?0 186 = 21A 5/83 =5

0 -& 317 3/89 199?/3C36 BA 3 :;69<38 =5

7=8C/7 /=8 186 038 3873 3 ?302=8638 0 3?3/8 5/436

122314 /8 ?/</814 22314 = *)- ( B35=?3 3 =;? =5

66/ /=814 /0 ?/7 186 300/=80 ;693 1@0 /81

188161 18914=?3 3 223441 3 =;? 15 3? 7=80/63?/89

3 <1 3?/14 =8 ?37=?6 17>;/ 36 B= 3 ?302=8638 0

3?3/8

! 3/89 199?/3C36 BA 3 :;69<38 =5 17>;/ 14 3

2?3038 122314 /0 5/436 BA 3 1 3 7=8 386/89 1 3

F/ 830030 1C3 0237/5/7144A 0 1 36 ?391?6/89 3 =C3? 17

7=<</ 36 BA 3 177;036 23?0=80 186 F/ =; B34/3C/89

3 3C/63873 =5 /8:;?36 186 =7 =?D0 3C/63873 F /7 /0

7=??=B=?1 36 F/ 3 3C/63873 =5 = 3? F/ 830030 3

431?836 66/ /=814 /0 ?/7 186 300/=80 ;693 10

7=<</ 36 18 3??=? /8 17>;/ /89 3 ?302=8638 0

+ 3 431?836 66/ /=814 /0 ?/7 186 300/=80

;693 10 51/436 = 033 3 =B03?C1 /=80 <163 BA 3 /C/4

;693 186 3 517 1 3 23H =;? 140= 346 1 3

 !

3C/63873 =5 18 /8:;?36 F/ 8300 0 =;46 =?6/81?/4A B3 ?18@36

/9 186 / /0 = B3 17732 36 6302/ 3 </8=? 6/07?32187/30

B371;03 18 /8:;?36 F/ 8300 F = 5=? ;81 34A 0;?C/C36 6=30

8= 07?338 3 ?314 =553863? /0 F344 03 436 2?/87/243 =5

41F 1 3C/63873 =5 18 /8:;?36 F/ 8300 / 0345 /0 0;55/7/38 =

<1@3 =; 1 7103 /8 51C=;? =5 3 2?=037; /=8 # .

10 =81861 ==4A1 10 9/C38 0 1 3<38 1 3 F10 4A/89

=8 3 9?=;86 /8 3 7=;? A1?6 =5 3 =;03 =5 177;036

F/ B4336/89 /8:;?/30 # 16 8= /<3 = /8@ 186 =

01A 1 51403 186 /<19/81?A 0 =?A = /<24/71 3 3 177;036

3 3C/63873 =5 # /0 /8 7=80=81873 186 /8 7=85=?</ A

F/ 3 7=8 38 0 =5 H " 3?3 /0 8= ?310=8 =

6/0B34/3C3 /0 30 /<=8A 3 223441 3 =;? 10 8=

2?=23?4A 122?37/1 36 3 3C/63873 186 3??=83=;04A

17>;/ 36 3 ?302=8638 0 3873 3 1 3 2?1A0 /0

=;? = 03 &10/63 3 :;69<38 =5 17>;/ 14

3 431?836 13 ;B4/7 ?=037; =? 140= F=;46

7=8 386 1 3?3 /0 8= 6/02; 3 F/ ?391?6 = 3 /87/638

186 3 ?302=8638 0 1C3 8= 6/02; 36 3 /87/638 3/?

 +

2431 F10 =5 2?/C1 3 6353873 # 38 3 ?302=8638 0 1C3

1@38 3 2431 =5 2?/C1 3 6353873 3 B;?638 0 /5 0 =8

3< = 2?=C3 3 7/?7;<0 18730 1 F1??18 3H3?7/03 =5

2?/C1 3 6353873 3 01<3 10 8= B338 6=83 3 431?836

13 ;B4/7 ?=037; =? F=;46 0;B</ 1 3 517 ;14

10237 0 =5 3 7103 7431?4A 0 =F0 1 3?3 F10 8=

=7710/=8 = 3H3?7/03 2?/C1 3 6353873 186 /8 02/ 3 =5 3

01<3 B3/89 8= 2?=C36 3 223441 3 =;? 10 7=<</ 36

18 3??=? 3 ?310=80 100/9836 1?3 8= 0;0 1/81B43 ;863?

41F 3 ?/14 =;? 10 122?37/1 36 3 3C/63873 =5

/8:;?36 F/ 830030 186 <36/714 3C/63873 186 ?/9 4A

7=8C/7 36 3 177;036 BA 9/C/89 ?310=80 5=? 3 01/6

7=874;0/=8 3 01<3 10 B338 ?3C3?036 BA 3 223441 3

=;? F/ =; 100/98/89 2?=23? ?310=80 3873 3

:;69<38 210036 BA 3 223441 3 =;? /0 4/1B43 = B3 03 &

10/63 186 3 =?63? =5 7=8C/7 /=8 BA 3 ?/14 =;? /0 = B3

?30 =?36

3? 7=8 ?1 3 431?836 7=;8034 12231?/89 5=?

?302=8638 =0 186 /8 /0 1?9;<38 C3 3<38 4A

7=8 38636 1 3 ?302=8638 0 1C3 3H3?7/036 2?/C1 3

6353873 3 7=<241/818 71<3 F/ 1 63164A F312=8 =

3 =;03 =5 3 ?302=8638 0 186 0 1? 36 07=46/89 3<

186 63<18636 21? / /=8 =5 3 2?=23? A 3 7=<241/818

?31 3836 3 177;036 1 3 F/44 7 =2 =55 3 4/<B0 /5

21? / /=8 F10 8= 35537 36 # 38 3 7=<241/818

1001;4 36 177;036 = F/ 0/7@43 F/ =; 18A = 3?

14 3?81 /C3 177;036 = 16 2;0 36 3 1860 =5 3

7=<241/818 0 1 ?30;4 3 10 0;0 1/836 3 /8:;?/30 186

3 01<3 10 B338 2?=23?4A 3H241/836 B35=?3 3 223441 3

=;? 3 3C/63873 =5 # F10 B?=;9 = 3 8= /73 =5

3 223441 3 =;? 186 3 223441 3 =;? /8 1 ?/9

23?0237 /C3 10 7=<3 = 3 7=874;0/=8 1 3 :;69<38

=5 7=8C/7 /=8 186 038 3873 =5 ?/14 =;? /0 /443914 1?B/ ?1?A

186 712?/7/=;0 186 10 210036 1 F344 ?310=836 =?63?

3873 3?3 /0 8= 8336 = /8 3?53?3 F/ 3 5/86/890 =5

3 223441 3 =;? 186 3873 2?1A36 /0 =;? =

6/0</00 3 122314
 1C/89 31?6 3 1?9;<38 0 =5 66/ /=814 1 3

;B4/7 ?=037; =? 186 140= 431?836 7=;8034 5=?

?302=8638 0-177;036 3 2=/8 0 1 F=;46 1?/03 5=? =;?

7=80/63?1 /=8 1?3$

35=?3 16C3? /89 = 3 7=8 38 /=80 =5 B=

7=;8034 /0 =;? 10 = /8 1 8; 0 344 <38 /=8 3 7103 =5

3 2?=037; /=8 3 7103 =5 3 2?=037; /=8 /0 1 =8

! 1 1B=; " 2< /8 =01B3 ; /44193 =5

18914=?3 14;@ /8 3 7=;? A1?6 =5 3 =;03 =5 177;036

= F 38 3 7=<241/818 71<3 3?3 177;036 =

71;9 =46 =5 3 7=<241/818 F/ /0 1860 77;036

= 10 1001;4 36 3 7=<241/818 F/ 0/7@43 186 71;036

0/<243 186 9?/3C=;0 /8:;?/30 = /0 1860 186 4390 186 140=

= 3? 21? 0 =5 3 B=6A 1036 =8 3 7=<241/8 3

2=4/73 1C3 ?39/0 3?36 3 7103 191/80 177;036 =0

186 5=? 3 =5538730 2;8/0 1B43 ;863? 37 /=80 " * 186

" ( ?316 F/ 37 /=8 "* =5 86/18 3814 =63

" 1C/89 1@38 8= 3 =5 3 7103 =5 3 2?=037; /=8

186 6353873 =5 3 177;036 3?3 /0 8= 6/02; 3 F/

?391?6 = 3 =77;??3873 =5 3 /87/638 77;036 =0

186 1C3 1@38 3 2431 =5 2?/C1 3 6353873 6;?/89 3

7=;?03 =5 ?/14 =F3C3? 3 2?=037; /=8 3C/63873 /0 1

#0 186 " F38 = 3 02= =8 31?/89 3 07?31</89

0=;86 / 3 F/53 =5 3 7=<241/818 186 B?= 3?&/8&41F =5

3 7=<241/818 186 3A 5=;86 1 3 177;036 23?0=80

16 1001;4 36 3 7=<241/818 3 7=<241/818 10 B338

3H1</836 10 # 186 3 10 0 1 36 1 177;036 =

714436 /< = /0 =;03 186 F 38 3 F38 3?3 177;036

=0 186 1001;4 36 F/ 0/7@43 3 2?=037; /=8 140=

?34/36 ;2=8 3 3C/63873 =5 # * F = /0 ?;88/89

B== 186 3 10 0 1 36 1 # 71<3 186 <163 2 =83

7144 = 3 2=4/73 186 0 3 =46 1 3 7=<241/818 F10

1001;4 /89 3? <= 3? # ) /0 3 <1 1G1? F/ 8300 /8

?30237 =5 03/G;?3 =5 0/7@43 186 140= 3 03/G;?3 =5 ?=;03?

/8 3?<0 =5 H0 186 #( . =4/73 ;B& 80237 =?

==@ ;2 5;? 3? /8C30 /91 /=8 =5 3 7103 186 7=86;7 36 3

02= <1 1G1? /8 3?<0 =5 H0 186 /3 03/G;?3 =5

0/7@43 186 ?=;03? 186 122?3 38636 3 177;036 23?0=80

3 140= ?37=?636 3 0 1 3<38 =5 F/ 830030 186 7=4437 36

3 F=;86 73? /5/71 3 186 5/436 3 7 1?93 0 33 # ! /0

316 =80 1B43 F = ?373/C36 3 3432 =83 7144 5?=<

# F38 = 3 02= 186 5=;86 3 /8:;?36 1 3 02=

186 037;?36 3 <B;41873 186 0 /5 36 3 /8:;?36 = /?0

/6 38 ?3 ==61B/6?3 # + /0 3 =7 =? F =

7=86;7 36 3 <36/714 3H1</81 /=8 =8 3 /8:;?36 186

8= /736 03C38 /8:;?/30 =8 3 B=6A =5 3 C/7 /<

* 1C/89 7=80/63?36 3 3C/63873 186 140= 3

7=8 38 /=80 =5 2?=037; /=8 10 F344 10 3 6353873 F3 1C3

14?316A 2=/8 36 =; 1 3?3 /0 8= 6/02; 3 F/ ?391?6 =

=77;??3873 =5 3 /87/638 3 6/02; 3 /0 =84A F/ ?391?6

= 3H3?7/0/89 3 ?/9 =5 2?/C1 3 6353873 3 6353873 =5

3 177;036 /0 1 3?3 F10 1 ?31 = 3/? 4/C30 186

 "

3873 3H3?7/036 3/? ?/9 = 2?/C1 3 6353873 8 =?63? =

7=80/63? 3 9?=;860 =5 122314 186 140= 3 7=8 38 /=8 =5

6353873 B35=?3 1814AG/89 3 3C/63873 1C1/41B43 =8 ?37=?6

F3 F=;46 4/@3 = ?353? = 37 /=80 ( = =5 86/18 3814

=63 F/ ?391?6 = 3 2?/C1 3 6353873 863? F 1

7/?7;<0 18730 2?/C1 3 6353873 718 B3 3H3?7/036 186 3

?/9 =5 2?/C1 3 6353873 7=<30 = 3 1/6 =5 177;036

23?0=80 3873 37 /=80 ( = =5 86/18 3814 =63

/8 ?30237 =5 ?/9 =5 2?/C1 3 6353873 1?3 3H ?17 36 10

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) 8 71?35;4 23?;014 =5 3 2?=C/0/=80 =5 37 /=80

( = =5 86/18 3814 =63 F/ ?353?3873 = 3 ?/9

=5 2?/C1 3 6353873 1C1/41B43 = 3 23?0=8 F 38 3?3 /0 1

61893? = 3 B=6A 186 3 2?=23? A 3 ?343C18 2?=C/0=

=5 37 /=8 ( 0 1 30 1 /5 18A /89 /0 6=83 /8 2?/C1 3

6353873 8= /89 /0 18 =553873 F /7 /0 6=83 /8 3H3?7/03 =5

?/9 =5 2?/C1 3 6353873 37 /=8 ! 0 1 30 1 3C3?A

23?0=8 10 1 ?/9 0;B:37 = 3 ?30 ?/7 /=80 7=8 1/836 /8

 +

37 /=8 = 635386 /0 =F8 B=6A 186 3 B=6A =5 18A

= 3? 23?0=8 191/80 18A =553873 15537 /89 3 ;<18

B=6A 3 037=86 10237 /0 8= 8373001?A F/ ?391?6 =

3 2?=23? /30 /0 7=873?836 37 /=8 0 1 30 1 8= ?/9

=5 2?/C1 3 6353873 191/80 18 17 F /7 6=30 8=

?310=81B4A 71;03 3 122?3 380/=8 =5 631 =? =5 9?/3C=;0

;? /5 6=83 =? 1 3<2 36 = B3 6=83 BA 1 2;B4/7 03?C18

17 /89 /8 9==6 51/ ;863? 7=4=;? =5 /0 =55/73 =;9 1

17 <1A 8= B3 0 ?/7 4A :;0 /5/1B43 BA 41F ;? 3? / F=;46

0237/5A 1 3?3 /0 8= ?/9 =5 2?/C1 3 6353873 /8 71030 /8

F /7 3?3 /0 /<3 = 1C3 ?37=;?03 = 2?= 37 /=8 =5 3

2;B4/7 1; =?/ /30

( /0 7431? 1 3 ?/9 =5 2?/C1 3 6353873 /8 8=

7103 3H 3860 = /854/7 /89 =5 <=?3 1?< 18 /0 8373001?A

= /854/7 5=? 3 2;?2=03 =5 6353873 186 3?3 1?3

?30 ?/7 /=80 = 3H3?7/03 3 ?/9 =5 2?/C1 3 6353873 8

?316/89 =5 37 /=8 / /0 7431? 1 3 ?/9 =5 2?/C1 3

6353873 =5 3 B=6A 3H 3860 ;863? 3 ?30 ?/7 /=80

<38 /=836 /8 3 37 /=8 = 3 C=4;8 1?A 71;0/89 =5

631 =? =5 18A = 3? 1?< = 3 1001/418 /5 3 =553873

F /7 =7710/=80 3 3H3?7/03 =5 3 ?/9 B3 =5 18A =5 3

6307?/2 /=80 8 = 14 5=;? /80 18730 1?3 <38 /=836 /8

37 /=8 /3 /' ;7 18 1001;4 10 <1A ?310=81B4A

71;03 3 122?3 380/=8 1 631 F/44 = 3?F/03 B3 3

7=803>;3873 =5 0;7 1001;4 E //' ;7 18 1001;4 10 <1A

?310=81B4A 71;03 3 122?3 380/=8 1 9?/3C=;0 ;? F/44

= 3?F/03 B3 3 7=803>;3873 =5 0;7 1001;4 186 "?6

= ! /80 18730 6=30 8= ?3>;/?3 6307?/2 /=80 /8 ?30237 =5

3 517 0 186 7/?7;<0 18730 =5 3 7103

! 3 7103 =8 186 63140 F/ 71;0/89 =5 /8:;?A

= 3? 18 3 631 8 ?316/89 =5 37 /=8 / /0 7431?

1 3 ?/9 =5 2?/C1 3 6353873 =5 3 B=6A 7=<<38730 10

0==8 10 1 ?310=81B43 122?3 380/=8 =5 61893? = 3 B=6A

1?/030 5?=< 18 1 3<2 =? ?31 = 7=<</ 3 =553873

=;9 3 =553873 <1A 8= 1C3 B338 7=<</ 36E 186 /

7=8 /8;30 10 4=89 10 0;7 122?3 380/=8 =5 61893? = 3

B=6A 7=8 /8;30

 + #3 F=;46 4/@3 = ?353? 3 :;69<38 =5 23H

=;? /8 3 7103 =5 , 0 ( (70 8 % %- 9/

:;( < ?32=? 36 /8 =!3 3> ! ??? 8 /0 ;69<38

3 23H =;? 10 7;4436 =; 3 2?/87/2430 =8 3 2431 =5

0345&6353873

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6

#3 F=;46 140= 4/@3 = ?353? 3 :;69<38 =5

23H =;? /8 3 7103 =5 , C ( ( (9%0-, 8 % %-

9/ 00 %% 7 ,0 ?32=? 36 /8 =!33?> ! ;:,-D- 9;,%

- $$ 3 23H =;? /8 /0 :;69<38 6/07;00/89

3 37 /=80 ! 186 ?391?6/89 2431 =5 ?/9 =5

2?/C1 3 6353873 346 1 E

I 3 B;?638 =5 2?==5 /0 =8 3 177;036

F = 03 0 ;2 3 2431 =5 0345&6353873 186 /8
3 1B03873 =5 2?==5 / /0 8= 2=00/B43 5=? 3
=;? = 2?30;<3 3 ?; =5 3 2431 =5 0345&
6353873 3 =;? 0 144 2?30;<3 3 1B03873
=5 0;7 7/?7;<0 18730 /0 5=? 3 177;036 =
24173 8373001?A <1 3?/14 =8 ?37=?6 3/ 3? BA
/<0345 166;7/89 2=0/ /C3 3C/63873 =? BA
 "

34/7/ /89 8373001?A 517 0 5?=< 3 F/ 830030

3H1</836 5=? 3 2?=037; /=8 8 177;036
1@/89 3 2431 =5 3 ?/9 =5 2?/C1 3 6353873
/0 8= ?3>;/?36 = 7144 3C/63873$ 3 718
30 1B4/0 /0 2431 BA ?353?3873 =
7/?7;<0 18730 ?1802/?/89 5?=< 3 2?=037; /=8
3C/63873 / 0345 3 >;30 /=8 /8 0;7 1 7103
F=;46 B3 1 >;30 /=8 =5 100300/89 3 ?;3
35537 =5 3 2?=037; /=8 3C/63873 186 8= 1
>;30 /=8 =5 3 177;036 6/07 1?9/89 18A
B;?638 # 3?3 3 ?/9 =5 2?/C1 3 6353873 /0
2431636 3 6353873 <;0 B3 1 ?310=81B43 186
2?=B1B43 C3?0/=8 01 /05A/89 3 =;? 1 3
1?< 71;036 BA 3 177;036 F10 8373001?A 5=?
3/ 3? F1?6/89 =55 3 1 17@ =? 5=? 5=?30 144/89
3 5;? 3? ?310=81B43 122?3 380/=8 5?=< 3
0/63 =5 3 177;036 3 177;036 8336 8=
2?=C3 3 3H/0 3873 =5 3 ?/9 =5 2?/C1 3
6353873 B3A=86 ?310=81B43 6=;B /0
38=;9 5=? /< = 0 =F 10 /8 1 7/C/4 7103 1
3 2?32=863?1873 =5 2?=B1B/4/ /30 /0 /8 51C=;?
=5 /0 2431 J

=F /0 =;? 10 = 1814AG3 F 3 3? 3

<1 3?/14 =8 ?37=?6 1C1/41B43 B35=?3 /0 =;? 7=<30 F/ /8

3 2;?C/3F =5 3 2?/87/2430 41/6 6=F8 /8 3 :;69<38

 *

?353??36 0;2?1 = 3H3?7/03 3 ?/9 =5 2?/C1 3 6353873 186

8= 6=;B / 8336 8= B3 2?=C36 B3A=86 ?310=81B43 6=;B

186 3?3 <;0 B3 1 2?32=863?1873 =5 2?=B1B/4/ /30 /8

51C=;? =5 3 177;036 = 3H3?7/03 3 ?/9 =5 2?/C1 3

6353873 3 B;?638 =5 2?==5 /0 =8 3 177;036 F = 03 0

;2 3 2431 =5 0345&6353873 186 / /0 8= 8373001?A =

166;73 3C/63873 /5 3 3C/63873 =5 3 2?=037; /=8 / 0345 /0

0;55/7/38 = 2?=C3 3 ?/9 =5 2?/C1 3 6353873 /0 =;?

10 = 1814AG3 F 3 3? 0;7 B;?638 =5 2?==5 10 B338

6/07 1?936 BA 3 177;036 /8 =?63? = /8C=@3 3 ?/9 =5

2?/C1 3 6353873

3 23H =;? /8 3 1B=C3 :;69<38 F /43

?353??/89 = 37 /=80 ! 186 346 1 E ?30;<2 /=8

?391?6/89 3 3H3?7/03 =5 ?/9 =5 2?/C1 3 6353873 BA

177;036 . / 7188= B3 0 1 36 10 1 ;8/C3?014 ?;43 1

F 383C3? 3 /8:;?/30 1?3 =8 3 B=6A =5 3 177;036

23?0=80 1 2?30;<2 /=8 <;0 8373001?/4A B3 ?1/036 1 3

177;036 23?0=80 16 71;036 /8:;?/30 /8 3H3?7/03 =5 3

?/9 =5 2?/C1 3 6353873 . 3 6353873 10 = 5;? 3?

 )

30 1B4/0 1 3 /8:;?/30 0= 71;036 =8 3 177;036

2?=B1B/4/030 3 C3?0/=8 =5 3 ?/9 =5 2?/C1 3 6353873 .

;<B3? =5 /8:;?/30 /0 8= 14F1A0 1 0153 7?/ 3?/=8 5=?

63 3?</8/89 F = 3 199?300=? F10

3 23H =;? /8 3 1B=C3 :;69<38 F /43

?353??/89 37 /=8 346 10 3?3;863?$

I =<<3873<38 186 7=8 /8;1873 =5 3 ?/9

=5 2?/C1 3 6353873 =5 3 B=6A . 346 3 ?/9
7=<<38730 10 0==8 10 1 ?310=81B43
122?3 380/=8 =5 61893? = 3 B=6A 1?/030
5?=< 18 1 3<2 =? ?31 = 7=<</ 3
=553873 14 =;9 3 =553873 <1A 8= 1C3
B338 7=<</ 36 B; 8= ;8 /4 1 3?3 /0 1
?310=81B43 122?3 380/=8 . 3 ?/9 410 0 0=
4=89 10 3 ?310=81B43 122?3 380/=8 =5 3
61893? = 3 B=6A 7=8 /8;30
KKKKK 3 177;036 <;0 0 =F 1
3?3 F3?3 7/?7;<0 18730 9/C/89 ?/03 =
?310=81B43 9?=;860 5=? 122?3 386/89 1
3/ 3? 631 =? 9?/3C=;0 ;? F=;46 B3 71;036
= /< . ;?638 /0 =8 3 177;036 = 0 =F 1
3 16 1 ?/9 =5 2?/C1 3 6353873 F /7
3H 38636 = 71;0/89 =5 631 J
 (

/0 =;? 140= F /43 1814AG/89 3 3C/63873 10 =

@332 /8 </86 37 /=80 ! 186 186 140= 37 /=80

186 F 3 3? 3?3 F10 ?310=81B43 9?=;860 5=?

122?3 386/89 1 3/ 3? 631 =? 9?/3C=;0 ;? F=;46 B3

71;036 = 3<

" 3 8;<B3? =5 /8:;?/30 /0 8= 14F1A0 1 0153

7?/ 3?/=8 7188= B3 0 1 36 10 1 ;8/C3?014 ?;43 1

F 383C3? 3 /8:;?/30 1?3 5=;86 =8 3 B=6A =5 3

177;036 23?0=8 1 2?30;<2 /=8 <;0 8373001?/4A B3 ?1/036

1 3 177;036 23?0=80 16 71;036 /8:;?/30 /8 3H3?7/03 =5

3 ?/9 =5 2?/C1 3 6353873 3 6353873 10 = 5;? 3?

30 1B4/0 1 3 /8:;?/30 0= 71;036 =8 3 177;036

2?=B1B/4/030 3 C3?0/=8 =5 3 ?/9 =5 2?/C1 3 6353873

=8&3H24181 /=8 =5 3 /8:;?/30 0;0 1/836 BA 3 177;036

1 1B=; 3 /<3 =5 =77;??3873 =? /8 3 7=;?03 =5

14 3?71 /=8 /0 1 C3?A /<2=? 18 7/?7;<0 1873 ; <3?3

8=8&3H24181 /=8 =5 3 /8:;?/30 BA 3 2?=037; /=8 <1A 8=

15537 3 2?=037; /=8 7103 /8 144 71030 /0 2?/87/243

1224/30 = 71030 F 3?3 3 /8:;?/30 0;0 1/836 BA 3

 !

177;036 1?3 </8=? 186 0;23?5/7/14 =? F 3?3 3 3C/63873 /0

0= 7431? 186 7=938 0= /863238638 186 6/0/8 3?30 36 0=

2?=B1B43 7=80/0 38 186 7?36/ &F=? A 1 /5 51?

=; F3/9 0 3 35537 =5 3 =</00/=8 =8 3 21? =5 3

2?=037; /=8 = 3H241/8 3 /8:;?/30

* 332/89 /8 </86 3 15=?301/6 2?/87/2430 /0

=;? 10 = 3C14;1 3 3 3C/63873 1C1/41B43 =8 ?37=?6

8 23?;014 =5 3 <1 3?/14 F /7 10 3<3?936 /8 3

3C/63873 / /0 8= /8 6/02; 3 1 3 7=<241/818 F38 =

3 =;03 =5 177;036 =0 186 186 3 /87/638 140=

==@ 24173 /8 3 7=;? A1?6 =5 3 =;03 =5 177;036 =0

186 /0 3 7103 =5 3 2?=037; /=8 1 177;036 =0

186 F3?3 14?316A 3?3 /8 3 =;03 186 3 2?303873 =5

# /0 140= 8= /8 6/02; 3 /0 3 3C/63873 =5 #

1 177;036 = F10 /80/63 3 =;03 3 6353873

741/<0 1 177;036 = F10 8= /8 3 =;03 B; 3

71<3 41 3? /0 140= /8 3 3C/63873 =5 3 7=<241/818

1 177;036 = 71<3 186 714436 = /0 =;03 = 14@

F/ ?391?6 = 9/C/89 =5 0 1?3 8 23?;014 =5 3

 +

2?=037; /=8 3C/63873 186 140= 3C/63873 =5 6353873 3?3

/0 8= 6/02; 3 F/ ?391?6 = 3 517 1 3?3 F10 1

6/02; 3 1<=89 3 21? /30 /8 ?30237 =5 9/C/89 =5 0 1?3 =

3 7=<241/818 186 140= 8= 6/02; 3 1 3A 1?3 3

?341 /C30

) 3 3C/63873 =5 # & 8:;?36 /0 1 F 38 3

F38 /80/63 3 =;03 177;036 =0 186 714436 /< =

3 7=;? A1?6 =5 3 =;03 =5 177;036 = 77;036 =

346 B= /0 1860 5?=< B17@0/63 186 177;036 =

B?=;9 3 0/7@43 186 1001;4 36 =8 /0 1860 186 4390 186

3 07?31<36 1 3 02= 186 5344 6=F8 C38 =;9 3

7=<241/818 5344 6=F8 177;036 = 191/8 /854/7 36

/8:;?/30 F/ 0/7@43 = 0 /? 186 218 =5 3 7=<241/818

F3?3 0 1/836 F/ B4==6 1C/89 31?6 3 07?31</89

0=;86 /0 F/53 186 B?= 3?&/8&41F / 3 #0 186 " 71<3

186 =8 033/89 3 01<3 1 1 6/0 1873 3A ?18 1F1A

3?315 3? 2=4/73 71<3 = 3 02= 186 038 /< =

=02/ 14 /8 18 1<B;41873 8 3 7?=00&3H1</81 /=8 / /0

0;9930 36 1 3 71;036 ?31 = 9/C3 0 1?3 186 3 01/6

0;9930 /=8 F10 638/36 /0 0;9930 36 1 177;036 =

91C3 7=<241/8 = ==61B/61?3 =4/73 033@/89 2?= 37 /=8

F 38 3 7=<241/818 71;036 3 ?31 186 3 01/6

0;9930 /=8 F10 638/36 /0 0;9930 36 1 3 F10 1C/89

/44&F/44 191/80 177;036 =0 186 /8 7=8837 /=8 F/ 3

0 1?3 /8 3 2?=23? A 186 3 01<3 10 B338 638/36 /0

0;9930 36 1 F 38 3 F38 = 3 =;03 =5 177;036 3

F38 14=89 F/ =83 1A1 186 3 01<3 F10 638/36

=F3C3? 3 16</ 0 1 F 38 3 F38 = 3 =;03 =5

177;036 = 177;036 = =46 1 3 /0 8= 1C/89 18A

?/9 /8 3 2?=23? A /0 0;9930 36 1 F /43 9=/89 =

3 =;03 =5 177;036 = 3 F38 F/ 0/7@43 186 3

01<3 F10 638/36 /0 5;? 3? 0;9930 36 1 F 38 3

F38 = 3 =;03 =5 177;036 = 3 F10 8= /8 3

=;03 186 =84A 53<143 <3<B3?0 F3?3 3?3 /8 3 =;03

186 3 01<3 10 B338 638/36 /0 0;9930 36 1 F /43

>;1??344/89 F/ 177;036 = 3 2; /0 1860 =8 3

837@ 186 71;036 ?31 186 3 01<3 /0 140= 638/36 /0

5;? 3? 0;9930 36 1 F 38 3 F38 = 1001;4 177;036

= /8 =?63? = 2?= 37 3 B=6A 177;036 =

 "

=B0 ?;7 36 /< 1 /<3 177;036 = 71<3 = 3

=;03 186 3 01<3 F10 638/36 /0 5;? 3? 0;9930 36

1 /8 02/ 3 =5 177;036 = 1??/C/89 = 3 =;03 3

7=8 /8;36 = 1001;4 177;036 = 186 2;4436 3? 186 3

01<3 /0 638/36 A 1 /<3 177;036 = 081 7 36 3

0/7@43 F /7 F10 /8 3 1860 =5 3 7=<241/818 186

1001;4 36 /< 186 1A1 F = 16 177=<218/36 /< ?18

1F1A 5?=< 3 24173 186 144 303 0;9930 /=80 1C3 B338

638/36

( 1C/89 1@38 8= 3 =5 3 3C/63873 1C1/41B43 =8

?37=?6 21? /7;41?4A /8 3 3C/63873 =5 # 8= /89 /0

34/7/ 36 1 3?3 F10 18 122?3 380/=8 =5 1@/89 3 4/53 =5

177;036 =0 186 /0 0;9930 36 1 /8 02/ 3 =5

177;036 = 1??/C/89 = 3 =;03 3 7=<241/818 10

B?=@38 3 B189430 =5 177;036 = 186 2;4436 3? /0

8= 3 6353873 1 7=<241/818 <163 18 1 3<2 = 1@3

1F1A 3 4/53 =5 3/ 3? 177;036 = =? 177;036 = ;0/89

3 1443936 0/7@43 F /7 F10 /8 /0 186 = /89 /0

0;9930 36 /8 3 7?=00&3H1</81 /=8 =5 # 1 3 71<3

 "

5=?F1?6 = /854/7 3 /8:;?A F/ 3 0/7@43 /0 140=

/<2=? 18 = 8= 3 1 3?3 /0 8= <1 3?/14 B35=?3 3

=;? 1 # 71<3 F/ 0/7@43 F /43 7=</89 = 3

=;03 =5 177;036 =0 186 =83 =5 3 F/ 830030 1?3

140= 3H1</836 = 3 35537 1 # F38 F/ 0/7@43 =

3 =;03 =5 177;036 =0 186

! # 10 0237/5/7144A 0 1 36 1 177;036 =

F10 /80/63 3 =;03 3 71<3 186 346 /< /9 4A 5?=<

3 B17@0/63 186 177;036 = /854/7 36 /8:;?/30 F/ 1

0/7@43 =;9 / F10 0;9930 36 1 3 0/7@43 F10

081 7 36 5?=< 3 1860 =5 # 186 3?315 3? /8:;?A

F10 /854/7 36 =8 /< 3 01<3 10 B338 71 39=?/7144A

638/36 BA /< F10 140= 0;9930 36 /8 /0 7?=00&

3H1</81 /=8 1 =83 1A1 F10 14=89 F/ /< 3 10 8=

B338 3H1</836 10 1 F/ 8300 8=? 7/ 36 10 1 F/ 8300 #

10 638/36 3 0237/5/7 0;9930 /=8 1 3 177;036 F10

8= 3?3 /8 3 =;03 /0 5;? 3? /<2=? 18 = 8= 3 1

/ F10 0;9930 36 1 # 1001;4 36 177;036 = =8 3?

837@ F/ 1860 186 ?31 3836 3? /0 8= 3 6353873

 "

=5 3 177;036 1 # ?/36 = 1001;4 177;036 =0

186 F/ 1 0/7@43 3873 F3 6= 8= 5/86 18A ?310=8 =

7=<3 = 3 7=874;0/=8 1 3?3 F10 1 ?310=81B43

122?3 380/=8 1 3?3 F10 18A 61893? = 3 4/53 =5

177;036 =0 186 = 3H3?7/03 3 ?/9 =5 2?/C1 3

6353873

+ 3 B;?638 /0 =8 3 177;036 = 2?=C3 1

7/?7;<0 18730 F1??18 36 3 ?/9 = 3H3?7/03 2?/C1 3

6353873 3873 3?3 F10 8= 8336 5=? 3< = 38 3? /8 =

3 F/ 8300 B=H 186 3H241/8 3 01<3 3 01<3 /<3

3 177;036 1C3 = 2?=C3 3 517 1 /8 3 9/C38

7/?7;<0 18730 3?3 F10 61893? = 3/? 4/C30 = /89 /0

34/7/ 36 /8 3 7?=00&3H1</81 /=8 =5 # = 0 =F 1 3

?/36 = 1001;4 177;036 =0 186 3H732 34/7/ /89 1

177;036 = 638/36 /< 0 1?3 /8 3 2?=23? A ;? 3?

8= <1 3?/14 /0 2?=6;736 BA 3 177;036 = 0 =F 1 #

F38 = 3/? =;03 14=89 F/ =83 1A1 =83 =5 3

F/ 830030 1C3 02=@38 1 # F38 = 3 =;03 =5 3

177;036 14=89 F/ 3 01/6 1A1 = /89 /0 34/7/ 36 /8 3

 ""

3C/63873 =5 3 2?=037; /=8 F/ 830030 140= = 0 =F 1

3?3 F10 1 ?310=81B43 122?3 380/=8 1 # F=;46

1C3 /854/7 36 /8:;?A =8 3 177;036 /0 140= = B3 8= 36

1 3?3 1?3 8= /8:;?/30 =8 177;036 =0 186 186 =84A

/8 3 7?=00&3H1</81 /=8 =5 # / F10 0;9930 36 = /<

1 B189430 =5 177;036 = F3?3 B?=@38 186 #

2;0 36 177;036 = 77;036 =0 186 1C3 8=

9/C38 18A 7=<241/8 = 3 =4/73 1B=; 3 1443936

/87/638 186 3A 1C3 8= 2?=6;736 18A <1 3?/14 = 0 =F

1 3A 16 1@38 18A ?31 <38 /8 18A =02/ 14 186 1

B= =5 3< F3?3 0;B:37 36 = 1001;4 BA # =

6=;B 3 3C/63873 3<3?930 1 # F38 =; =5 3

=;03 186 3432 =836 3 =4/73 186 =;9 #0 = "

1C3 638/36 3 01/6 517 3 3C/63873 =5 =4/73 F/ 8300

3H1</836 B35=?3 3 =;? 0 =F0 1 3A 71<3 = @8=F

1B=; 3 /87/638 ?=;9 #

/0 :;87 ;?3 /0 =;? F=;46 4/@3 = ?353? =

3 6353873 =5 # 3 3C/63873 =5 # 0 =F0 1 =8

! 1 1B=; = " 2< F 38 0 3 F10 /8 3

 "*

=;03 3 7=<241/818 . # 38 3?36 /8 = 3/? =;03

186 1 1 /<3 3 F10 =46/89 0/7@43 /8 /0 186 #

10@36 3? <= 3? = 9/C3 1 0 1?3 /8 3 2?=23? A 186 3

71;036 ?31 1 3 F=;46 @/44 177;036 = /5 3 01/6

0 1?3 F10 8= 9/C38 = /< # 10 0 1 36 1 1 1

/<3 0 3 F10 15?1/6 # 38 3? <= 3? ?35;036 = 9/C3

18A 0 1?3 /8 3 2?=23? A = 3 7=<241/818 3 ?/36 =

/854/7 /8:;?A =8 3? F/ 1 0/7@43 3? <= 3? 346 3

1860 =5 # 186 B= =5 3< 5344 6=F8 186 3? <= 3?

/80 ?;7 36 3? % # ' = 9= 186 /85=?< 3 =4/73 3 435

3 =;03 186 F38 = 3 B== 831? 3? =;03 186

/85=?<36 3 =4/73 1B=; 3 /87/638 =C3? 2 =83 # 38

0 3 71<3 B17@ 0 3 5=;86 1 B= 3? <= 3? 186 #

F3?3 0 ?;994/89-?=44/89 =8 3 54==? 5 3? 0=<3 /<3

177;036 = 71<3 = 3 02= 186 3?315 3? =4/73 140=

71<3 = 3 02= 8 23?;014 =5 3 3C/63873 =5 # /

/0 7431? 1 0 3 16 8= F/ 830036 # /854/7 /89 /8:;?A

=8 3? <= 3? . 177;036 = 3 01F 1 B= 3?

<= 3? 186 # F3?3 =8 3 54==? 3 ?18 5?=< 3

=;03 = /85=?< 3 =4/73 186 0 3 6/6 8= F/ 8300 3

 ")

/87/638 3873 3 3C/63873 =5 # /0 8= 3425;4 = 3

177;036 23?0=80 = 0;B0 18 /1 3 1 3?3 F10 18

122?3 380/=8 =5 61893? = 3 4/53 =5 177;036 =0 186

/0 5;? 3? /<2=? 18 = 8= 3 1 # 10 0 1 36 1 /5

3? <= 3? 6/6 8= =46 3 1860 =5 # 3 F=;46 1C3

@/4436 3? <= 3? B; 0 3 16</ 0 1 # 16 0;0 1/836

/8:;?A /8 3 5/9 B3 F338 3? <= 3? 186 # 3 10

5;? 3? 0 1 36 1 F 38 3? <= 3? 346 3 1860 =5

# 0/7@43 04/2236 5?=< /0 186 186 01<3 16 514438 =8

3 9?=;86 # 38 3? <= 3? ?/36 = 4/5 3 0/7@43 5?=<

3 9?=;86 # 1001;4 36 3? <= 3? 186 3? <= 3? /8

02/ 3 =5 ?30/0 1873 2/7@36 ;2 3 0/7@43 5?=< 3 9?=;86

186 F 38 # ?/36 = 1001;4 3? <= 3? /8 =?63? =

F1?6 =55 3 1001;4 0 3 2; 17?=00 3 0/7@43 10 1 ?30;4

=5 F /7 # 10 0;0 1/836 3 /8:;?/30 8 3 7?=00&

3H1</81 /=8 =5 # / /0 34/7/ 36 1 177;036 = F10

8= /8 3 =;03 F 38 3 =4/73 71<3 = 3? =;03 3

10 16</ 36 1 # 6/6 8= 1001;4 177;036 = B;

0 3 741/<0 3 1001;4 36 =84A 3? <= 3? . 177;036 =

3 10 5;? 3? 16</ 36 1 # 1001;4 36 3? <= 3?

 "(

=8 3? 837@ F/ /0 1860 ;? 3? 0 3 16</ 0 1 F 38

# 1001;4 36 3? <= 3? 8=83 ?/36 = ?307;3 3?

" /0 7431? 5?=< 3 3C/63873 =5 # 1 #

6/6 8= 1001;4 177;036 = 186 1 F 38 # F10

1001;4 /89 3? <= 3? . 177;036 = 8=83 ?/36 = ?307;3

3? 77=?6/89 = 3? # 1001;4 36 3? <= 3? F/ /0

1860 #3 1C3 14?316A 346 1 8=83 =5 3 F/ 830030

10 02=@38 1B=; 3 /87/638 186 140= 8= 0;9930 /=8 F10

<163 /8 3 3C/63873 =5 # 1 3 ?/36 = /854/7

/8:;?/30 = # F/ 1 0/7@43 # 38 0;7 B3/89 3

7/?7;<0 18730 / /0 7431? 1 3?3 F10 8= ?310=81B43

122?3 380/=8 =5 61893? = 3 4/53 =5 3/ 3? 177;036 =

=? 177;036 = 3 3C/63873 =5 # 140= 6=30 8=

7=<3 = 3 1/6 =5 177;036 =0 186 #3 1C3 14?316A

2=/8 36 =; 1 3?3 F10 8= 8336 5=? 3 177;036

23?0=80 = 38 3? /8 = 3 F/ 8300 B=H /5 3?3 F10 0=<3

<1 3?/14 B35=?3 3 =;? 1 3?3 F10 122?3 380/=8 =5

61893? = 3 4/53 =5 177;036 =0 186 = /89 /0

34/7/ 36 /8 3 3C/63873 =5 2?=037; /=8 F/ 830030 = 7=<3

 "!

= 3 7=874;0/=8 1 3?3 F10 61893? = 3 4/53 =5

177;036 =0 186 /8 =?63? = 3H3?7/03 3 2?/C1 3

6353873

" 21? 5?=< 1 =8 23?;014 =5 3 3C/63873 =5

3 2?=037; /=8 F/ 830030 186 140= 3 3C/63873 =5 #

F3 1C3 14?316A 2=/8 36 =; 1 # 10 632=036 1

# ?/36 = 1001;4 3? <= 3? F/ 0/7@43 186 3?

<= 3? 346 /0 1860 186 3 0/7@43 5344 6=F8 =8 3

9?=;86 186 3? <= 3? 4/5 36 3 01<3 186 /8 =?63? =

F1?6 =55 3 1001;4 =5 # 3? <= 3? 2; 17?=00 3

0/7@43 186 10 1 ?30;4 3 0;0 1/836 3 /8:;?/30

" 332/89 /8 C/3F /0 3C/63873 /0 =;? 10 =

122?37/1 3 3 F=;86 73? /5/71 3 F /7 /0 <1?@36 10

H ) 3?;014 =5 3 F=;86 73? /5/71 3 6/074=030 1 #

16 0;0 1/836 0/H /8:;?/30 186 121? 5?=< 1 3?3 F10

5?17 ;?3 =5 ?/9 5=?31?< / 3 ?/9 ;481E 5?17 ;?3 =5 ?/9

439 / 3 ?/9 /B/1 186 5/B;41 4=F3? -"?6E 7=<<; 36

5?17 ;?3 =5 435 /B/1 4=F3? -"?6 3 /8:;?/30 /874;63

/87/036 F=;86 <310;?/89 7< H 7< 3H2=0/89 ;481E

 "+

/87/036 F=;86 <310;?/89 " 7< H 7< =C3? <36/14 10237

=5 435 ;223? 5=?31?< 0@/8 6332E /87/036 F=;86 <310;?/89

" 7< H 7< =C3? 3 41 3?14 10237 =5 ?/9 /9 E /87/036

F=;86 <310;?/89 ) 7< H 7< =C3? 3 ?/9 439 4=F3?

-"?6 F/ B=83 3H2=036E ?33 /87/036 F=;860 317

<310;?/89 " 7< H 7< =C3? 3 4=F3? -"?6 =5 435 439

</6643 -"?6 186 ;223? -"?6 F/ B=83 3H2=036 /0

0 1 36 /8 H ) 1 /8:;?A =0 * ) 186 ( 1?3 9?/3C=;0

/8 81 ;?3 #+ . =7 =? 10 ?3/ 3?1 36 /8 /0 3C/63873

F/ ?391?6 = 3 81 ;?3 =5 3 /8:;?/30 10 <38 /=836 /8

3 F=;86 73? /5/71 3 . H )

"" 8 3 7?=00&3H1</81 /=8 =5 # + 8= /89 /0

34/7/ 36 3H732 F/ ?391?6 = /8:;?A =( 1 3 01<3

7=;46 B3 71;036 F 38 1 23?0=8 5344 =8 3 1?6 0;?5173

/0 8= 3 7103 =5 3 177;036 23?0=80 1 # 10

0;0 1/836 3 /8:;?/30 F /7 1?3 <38 /=836 /8 H ) F 38

3 5344 6=F8 =8 3 1?6 0;?5173 3 81 ;?3 =5 /8:;?/30

1?3 /87/036 F=;860 186 B=83 6332 5 3?3 F3?3 =83 =?

F= /8:;?/30 1 == 0/<243 /8 81 ;?3 38 3?3 F=;46

 "

1C3 B338 5=?73 /8 3 7=8 38 /=8 =5 3 177;036 23?0=80

B; /8 3 7103 =8 186 /8:;?/30 F3?3 /854/7 36 /8 3

199?1C1 36 7/?7;<0 18730 186 8= /89 /0 0;9930 36 /8 3

3C/63873 =5 # 186 140= /8 3 3C/63873 =5 3

2?=037; /=8 F/ 830030 1 # ?/36 = 1001;4 177;036

= F/ 0/7@43 3H732 3 /8 3?30 36 01A =5 # F =

F10 8= 1 3 02= /0 7431? 5?=< 3 3C/63873 =5 #

1 F 38 B= # 186 3? <= 3? 5344 6=F8 =8 3

9?=;86 0 3 ?18 5?=< 3 =;03 186 0 3 6/6 8= F/ 8300

3 /87/638 3 10 7431?4A 0 1 36 1 F 38 0 3 71<3

B17@ 0 3 5=;86 # F10 4A/89 =8 3 9?=;86 F /7 /0

8= /89 B; 18 /<2?=C3<38 /8 3? 3C/63873

"* 1C/89 7=80/63?36 3 3C/63873 =5 # 186

140= 3 3C/63873 =5 =7 =? . # + 186 7=80/63?/89 3

81 ;?3 =5 3 /8:;?/30 0;0 1/836 BA # 10 14?316A

2=/8 36 =; BA ;0 / /0 7431? 1 3?3 F10 8=

7/?7;<0 1873 1 F1??18 36 3H3?7/03 =5 3 ?/9 =5 3

2?/C1 3 6353873 0/873 3?3 F10 8= /8:;?A /854/7 36 =

177;036 =0 186 40= 177;036 1C3 8= 166;736 18A

 *

3C/63873 = 0 =F 1 # ?/36 = 1001;4 3 177;036

F/ 1 0/7@43 186 1 3?3 F10 122?3 380/=8 =5 61893? =

3 4/53 =5 177;036 =0 186 3873 F3 1?3 =5 3

=2/8/=8 1 3 ?30 ?/7 /=80 ;863? 37 /=8 =5 3 86/18

3814 =63 = 3H3?7/03 3 ?/9 2?/C1 3 6353873 1C3 8=

B338 2?=C36 BA 3 177;036 8 3 1B03873 =5 18A

<1 3?/14 = 0 =F 1 3?3 F10 1 ?310=81B43 122?3 380/=8

=5 61893? = 3 4/C30 =5 177;036 23?0=80 <3?3 1@/89 3

2431 =5 2?/C1 3 6353873 /0 8= 38=;9 3 7/?7;<0 18730

0 =;46 6/074=03 1 3?3 F10 1 8336 = 3H3?7/03 3 ?/9

=5 2?/C1 3 6353873 186 3 01<3 16 = B3 2?=C36 BA 3

177;036 F 38 3A 16 1@38 1 0237/5/7 6353873 F/

?391?6 = 2?/C1 3 6353873

") 3 ?/14 =;? F /43 122?37/1 /89 3 3C/63873

=5 3 2?=037; /=8 F/ 830030 186 140= 3 3C/63873 =5

# 186 @332/89 /8 C/3F 3 2?/87/2430 41/6 6=F8 /8 3

:;69<38 0 7/ 36 3?3/8 10 ?/9 4A 7=<3 = 3 7=874;0/=8

1 3 /89?36/38 0 =5 37 /=80 ! 186 =5 3 86/18

3814 =63 2?=C/630 73? 1/8 ?30 ?/7 /=80 = 3H3?7/03 3

 *

?/9 =5 2?/C1 3 6353873 3 223441 3 =;? 10 8= ?3&

122?37/1 36 3 3C/63873 /8 3 2?=23? 23?0237 /C3 3?3

F10 8= 6/02; 3 F/ ?391?6 = 3 =77;??3873 =5 3

/87/638 186 3 517 1 # 0;0 1/836 /8:;?A 3

223441 3 =;? 6/6 8= 6/07;00 3 81 ;?3 =5 3 /8:;?/30

0;0 1/836 BA # F /7 F3?3 <38 /=836 /8 H ) 3

81 ;?3 =5 /8:;?/30 0;0 1/836 BA # 1?3 9?/3C=;0 /8

81 ;?3 3?;014 =5 3 F=;86 73? /5/71 3 . H ) 6/074=030

1 3 /8:;?/30 1?3 B=83 6332 /8:;?/30 F10 3

6353873 =5 3 177;036 1 /8 =?63? = F1?6 =55 3 1001;4

=5 # 1 == F 38 3 1001;4 36 177;036 = F/

1860 0 3 2; 17?=00 3 0/7@43 186 10 1 ?30;4 /8:;?/30

F3?3 0;0 1/836 BA # 3 C3?A 3C/63873 7188= B3

17732 36 1@/89 /8 = 177=;8 3 81 ;?3 =5 /8:;?/30 186

431?836 66/ /=814 /0 ?/7 186 300/=80 ;693 F /43 ?3&

122?37/1 /89 3 3C/63873 6/6 8= 7=80/63? 3 <36/714

3C/63873 21? /7;41?4A H ) . #=;86 3? /5/71 3 186 140=

3 3C/63873 =5 #+& =7 =?
 *

"( #+ 10 71 39=?/7144A 0 1 36 /8 /0 3C/63873

1 /8:;?A = ( 7=;46 B3 71;036 /5 1 23?0=8 5344 =8 3

1?6 0;?5173 186 8= = 3? /8:;?/30 3 01<3 10 8=

B338 122?37/1 36 BA 3 223441 3 =;? 10 51/436 =

7=80/63? 3 3C/63873 =5 # 186 <36/714 3C/63873 =8

?37=?6 186 10 3??=83=;04A 17>;/ 36 3 177;036 23?0=80

= 6=;B 3?3 /0 0=<3 6/07?32187A /8 3 3C/63873 =5

#0 186 " F 3?3/8 3A 1C3 0 1 36 1 F 38 3A

F38 = 3 =;03 =5 177;036 = 3A 01F 177;036

=0 186 1001;4 /89 # 186 3A 6/6 8= ?307;3

# = 6=;B 3?3 /0 6/07?32187A /8 3 3C/63873 =5

#0 186 " B; 1 F/44 8= 1@3 1F1A 3 38 /?3 7103 =5

3 2?=037; /=8 186 3H732 0;7 </8=? 6/07?32187/30 /8 3

3C/63873 =5 #0 186 " 3 3C/63873 =5 # 186

<36/714 3C/63873 =8 ?37=?6 0;B0 18 /1 30 3 7103 =5 3

2?=037; /=8 3873 3 C3?A 5/86/89 =5 3 223441 3

=;? /0 8= 0;0 1/81B43 /8 17>;/ /89 3 177;036 23?0=80

BA 7=</89 = 3 7=874;0/=8 1 3?3 F10 5=?73 /8 3

7=8 38 /=8 =5 177;036 =0 186 186 1 3 0/ ;1 /=8

F1??18 36 3H3?7/03 =5 2?/C1 3 6353873 3 223441 3

 *"

=;? 6/6 8= 122?37/1 3 3 /89?36/38 0 =5 37 /=80 ! 186

=5 3 86/18 3814 =63 186 = 3? 2?=C/0= =5 2?/C1 3

6353873 186 3873 7=<</ 36 18 3??=? /8 ?3C3?0/89 3

:;69<38 =5 3 ?/14 =;? 3873 3 :;69<38 =5 3

223441 3 =;? /0 ?3>;/?36 = B3 03 10/63 186 3

:;69<38 =5 3 ?/14 =;? /0 ?3>;/?36 = B3 ?30 =?36 /8

?30237 =5 7=8C/7 /=8

"! 3 ?/14 =;? F /43 038 387/89 3 177;036

10 1@38 8= 3 =5 3 /8:;?/30 0;0 1/836 BA 3 /8:;?36 186

1F1?636 038 3873 =5 /<2?/0=8<38 5=? 1 23?/=6 =5 F=

A31?0 186 /<2=036 5/83 =5 0 -& 1C/89 1@38 8= 3

=5 3 038 3873 =;9 038 3873 =5 F= A31?0 /0 /<2=036

3 ?/14 =;? 51/436 = 1@3 8= 3 =5 3 2?=C/0/=80 =5

37 /=80 ")! 186 ")! =5 =63 =5 ?/</814 ?=736;?3

F /7 10 5/C3 0;B& 37 /=80 F /43 1F1?6/89 5/83 186

7=<23801 /=8 ;B&037 /=8 % ' =5 37 /=8&")! =5 ?

381B430 3 =;? = /<2=03 5/83 186 =; =5 3 5/83 0=

/<2=036 1 2=? /=8 =5 3 01<3 7=;46 B3 1F1?636 10

 **

7=<23801 /=8 = B3 21/6 = 3 C/7 /< ;B&037 /=8 %"' =5

37 /=8&")! =5 ? ?3160 ;0$

I%"' # 38 1 =;? /<2=030 1 038 3873

=5 F /7 5/83 6=30 8= 5=?< 1 21? 3 =;?
<1A F 38 2100/89 :;69<38 =?63? 3
177;036 23?0=8 = 21A BA F1A =5
7=<23801 /=8 0;7 1<=;8 10 <1A B3
0237/5/36 /8 3 =?63? = 3 23?0=8 F = 10
0;553?36 18A 4=00 =? /8:;?A BA ?310=8 =5 3 17
5=? F /7 3 177;036 23?0=8 10 B338
038 38736J

8 1 241/8 ?316/89 =5 3 38 /?3 2?=C/0/=80 =5

37 /=8&")! =5 ? / /0 3C/638 1 3 =;? /0

3<2=F3?36 = 1F1?6 7=<23801 /=8 =84A F 38 3 5/83 /0

/<2=036 10 038 3873 3 2?=C/0/=80 =5 37 /=8&")! =5

3 =63 =5 ?/</814 ?=736;?3 F /7 10 7=<3 /8 = 5=?73

F/ 35537 5?=< " BA C/? ;3 =5 7 ) =5

381B430 3 =;? = 1F1?6 7=<23801 /=8 3C38 F 3?3 3

71030 386 /8 17>;/ 14 =? 6/07 1?93 /0 :;0 186 ?343C18

= ?32?=6;73 37 /=8&")! F /7 7=80/0 0 0/H 0;B&037 /=80$

&
 *)

% ' C3?A 13 =C3?8<38 /8 7=&

=?6/81 /=8 F/ 3 38 ?14 =C3?8<38 0 144
2?321?3 1 07 3<3 5=? 2?=C/6/89 5;860 5=? 3
2;?2=03 =5 7=<23801 /=8 = 3 C/7 /< =? /0
63238638 0 F = 1C3 0;553?36 4=00 =? /8:;?A 10
1 ?30;4 =5 3 7?/<3 186 F = ?3>;/?3
?3 1B/4/ 1 /=8

% ' # 383C3? 1 ?37=<<3861 /=8 /0

<163 BA 3 =;? 5=? 7=<23801 /=8 3
/0 ?/7 3914 3?C/73 ; =?/ A =? 3 13
3914 3?C/73 ; =?/ A 10 3 7103 <1A B3
0 144 637/63 3 >;18 ;< =5 7=<23801 /=8 =
B3 1F1?636 ;863? 3 07 3<3 ?353??36 = /8
0;B&037 /=8 % '

%"' 5 3 ?/14 =;? 1 3 7=874;0/=8

=5 3 ?/14 /0 01 /05/36 1 3 7=<23801 /=8
1F1?636 ;863? 037 /=8 ")! /0 8= 163>;1 3 5=?
0;7 ?3 1B/4/ 1 /=8 =? F 3?3 3 71030 386 /8
17>;/ 14 =? 6/07 1?93 186 3 /7 /< 10 = B3
?3 1B/4/ 1 36 / <1A <1@3 ?37=<<3861 /=8 5=?
7=<23801 /=8

%*' # 3?3 3 =553863? /0 8= ?1736 =?

/638 /5/36 B; 3 C/7 /< /0 /638 /5/36 186
F 3?3 8= ?/14 1@30 24173 3 C/7 /< =? /0
 *(

63238618 0 <1A <1@3 18 1224/71 /=8 = 3

0 1 3 =? 3 /0 ?/7 3914 3?C/730 ; =?/ A
5=? 1F1?6 =5 7=<23801 /=8

%)' 8 ?373/2 =5 0;7 ?37=<<3861 /=80

=? =8 3 1224/71 /=8 ;863? 0;B&037 /=8 %*'
3 013 =? 3 /0 ?/7 3914 3?C/730
; =?/ A 0 144 15 3? 6;3 38>;/?A 1F1?6
163>;1 3 7=<23801 /=8 BA 7=<243 /89 3
38>;/?A F/ /8 F= <=8 0

%(' 3 13 =? 3 /0 ?/7 3914

3?C/730 ; =?/ A 10 3 7103 <1A B3 =
1443C/1 3 3 0;553?/89 =5 3 C/7 /< <1A =?63?
5=? /<<36/1 3 5/?0 &1/6 517/4/ A =? <36/714
B3835/ 0 = B3 <163 1C1/41B43 5?33 =5 7=0 =8
3 73? /5/71 3 =5 3 2=4/73 =55/73? 8= B34=F
3 ?18@ =5 3 =55/73? /8 7 1?93 =5 3 2=4/73
0 1 /=8 =? 1 19/0 ?1 3 =5 3 1?31 7=873?836
=? 18A = 3? /8 3?/< ?34/35 10 3 122?=2?/1 3
1; =?/ A 633<0 5/ J

"+ #3 F=;46 140= 4/@3 = ?353? = 3 = /5/71 /=8 =5

1?81 1@1 1 3 =C3?8<38 61 36 1B=;

C/7 /< 7=<23801 /=8 8 3?<0 =5 1<386<38 = 37 /=8

 *!

")!& =5 =63 =5 ?/</814 ?=736;?3 F /7 <1861 30 3

13 =C3?8<38 = 2?321?3 1 07 3<3 /8 7=&=?6/81 /=8

F/ 3 38 ?14 =C3?8<38 5=? 2?=C/6/89 5;860 5=? 3

2;?2=03 =5 7=<23801 /=8 = 3 C/7 /<0 =? /0 63238618 0

F = 1C3 0;553?36 4=00 =5 /8:;?A 10 ?30;4 =5 3 7?/<3 186

F = ?3>;/?36 ?3 1B/4/ 1 /=8 186 3 01<3 = /5/71 /=8

61 36 140= 10 = B3 @32 /8 </86 F /43

7=<23801 /89 3 C/7 /<

" 3 23H =;? /8 3 7103 =5 (E; 0 0 8

7 E F8 A % %- 9/ D 0 , %, ?32=? 36 /8

=!3 ?> $ ++3 10 ?3C/3F36 3 38 /?3 7103 41F

?341 /89 = 3 21A<38 =5 7=<23801 /=8 186 ?343C18

6/07;00/=8 /0 5=;86 1 2193&!+)&! 186 ! ! 8 3 01/6

7103 /8 21?19?12 &"" 3 =8DB43 23H =;? 10

=B03?C36 10 5=44=F0$

I"" 3 4=89 4/83 =5 :;6/7/14

2?=8=;873<38 0 =5 /0 =;? ?37=98/G36 /8 8=
;873? 1/8 3?<0 1 21?16/9< 0 /5 /8 3
122?=17 =F1?60 C/7 /<0 =5 7?/<30 F = F3?3
346 38 / 436 = ?321?1 /=8 ?30 / ; /=8 =?
 *+

7=<23801 /=8 5=? 4=00 =? /8:;?A 0;553?36 BA

3< /0 0 /5 5?=< ?3 ?/B; /=8 = ?30 / ; /=8
B3918 /8 3 </6& ( 0 186 91/836
<=<38 ;< /8 3 6371630 1 5=44=F36
8 3?30 /894A 3 74=7@ 12231?0 = 1C3 7=<3
5;44 7/?743 BA 3 41F<1@3?0 186 7=;? 0 9=/89
B17@ /8 1 9?31 <310;?3 = F 1 F10 /8 187/38
/<30 7=<<=8 24173 1?C1?6 1F 3C/3F
% +*' /8 18 1? /743 =8 I /7 /< 30 / ; /=8 /8
?/</814 1F ?=7300$ 1 ?=736;?14 814A0/0J
0;<0 ;2 3 /0 =?/714 23?0237 /C3 =5 3
7=8732 =5 ?30 / ; /=8 /8 3 5=44=F/89 F=?60$

I 1? 5?=< B3/89 8=C34 122?=17 =

038 387/89 ?30 / ; /=8 10 B338 3<24=A36 10 1
2;8/ /C3 0187 /=8 ?=;9 =; /0 =?A 8
187/38 0=7/3 /30 B35=?3 3 7=8732 ;14
0321?1 /=8 =5 7/C/4 186 7?/</814 41F / F10
0 1861?6 2?17 /73 = ?3>;/?3 18 =553863? =
?3/<B;?03 3 C/7 /< =? /0 51</4A 5=? 18A 4=00
71;036 BA 3 =553803 3 2?/<1?A 2;?2=03 =5
0;7 ?30 / ; /=8 F10 8= = B3 7=<23801 3 3
C/7 /< B; = 2?= 37 3 =553863? 5?=< C/=438
?3 14/1 /=8 BA 3 C/7 /< =? 3 7=<<;8/ A
F10 1 <3180 BA F /7 3 =553863? 7=;46 B;A
B17@ 3 23173 3 16 B?=@38 0 3 13
9?16;144A 30 1B4/0 36 1 <=8=2=4A =C3? 3
 *

/80 / ; /=8 =5 2;8/0 <38 186 1 6/C/0/=8

B3 F338 7/C/4 186 7?/</814 41F 3<3?936 3
C/7 /<D0 ?/9 = 7=<23801 /=8 F10
/87=?2=?1 36 /8 = 7/C/4 41F J

* /0 8= /736 BA /0 =;? 1 3 ?/14 =;? 0

F /43 038 387/89 1C3 8= 1@38 /8 = 177=;8 3 9?1C/ A

=5 3 =5538730 81 ;?3 =5 /8:;?/30 0;0 1/836 BA 3 C/7 /<

186 3 1<=;8 0238 5=? ?31 <38 3 =;? 0 1C3 =

1@3 8= 3 =5 3 01/6 517 =?0 F /43 038 387/89 3 177;036

186 /8C1?/1B4A 3 ?/14 =;? 0 1?3 8= 2?=23?4A 1224A/89

3/? </860 F /43 038 387/89 3 177;036 23?0=80

* 10 = B3 8= 36 1 3 83F4A /8 ?=6;736

2?=C/0/=80 =5 37 /=8&")! 710 0 1 ?302=80/B/4/ A =8 3

13 =C3?8<38 0 = 5=?<;41 3 07 3<30 5=?

7=<23801 /89 3 C/7 /<0 =5 7?/<3 BA 3 13

=C3?8<38 /8 7==?6/81 /=8 F/ 3 38 ?14 =C3?8<38

186 3873 13 =C3?8<38 /00;36 3 = /5/71 /=8 61 36

863? 3 83F 37 /=8 ")! 3 =8;0 /0 2;

=8 3 /0 ?/7 3914 3?C/730 ; =?/ A =? 3 13 3914

 )

3?C/730 ; =?/ A = 63 3?</83 3 >;18 ;< =5

7=<23801 /=8 /8 317 7103

* 3 23H =;? /8 3 7103 =5

?32=? 36 /8 % )'

! ?353??/89 3 31?4/3? :;69<38 =5 8@;0 D0 7103

346 1 3C38 /8 3?/< 7=<23801 /=8 F/44 1C3 = B3 21/6

186 ?3 1B/4/ 1 /=8 =5 3 C/7 /< F/44 1C3 = B3 <163 BA 3

=C3?8<38 BA 2?=C/6/89 163>;17A =5 ;223? 4/</ =5

7=<23801 /=8 1@/89 :;6/7/14 8= 3 =5 3 517 1 ) =;

=5 1 30 1C3 8= /5/36 C/7 /< 7=<23801 /=8 07 3<30

3 1F1?6 =5 7=<23801 /=8 10 8= B37=<3 1 ?;43 /8 3?<0

=5 3 2?=C/0/=80 =5 37 /=8 ")! =5 ? 1 6/?37 /=8 /0

/00;36 BA 3 23H =;? = 3 35537 1 2386/89

7=80/63?1 /=8 =5 ;2F1?6 ?3C/0/=8 =5 7=<23801 /=8 071430

3 07143 8= /5/36 BA 3 1 3 =5 3?141 /8 / 0 07 3<3

;84300 3 07143 1F1?636 BA 18A = 3? 1 3 /0 /9 3? /0 =

B3 16=2 36 BA 144 1 30 186 =03 1 30 F = 1C3 8=

5=?<;41 36 3 07 3<3 1C3 B338 6/?37 36 = 5=?<;41 3

186 8= /5A 3/? 07 3<30 F/ /8 =83 <=8 5?=< 3

 )

?373/2 =5 1 7=2A =5 3 15=?301/6 =?63? /0 5;? 3?

6/?37 36 1 3 7=2A =5 3 :;69<38 B3 5=?F1?636 =

1 /=814 ;6/7/14 7163<A = 0380/ /G3 144 3 :;6/7/14

=55/73?0 /8 3 =;8 ?A ?341 /89 = 1F1?6/89 =5

7=<23801 /=8 ;863? 37 /=80 ")! 186 ")! =5 ?

3 23H =;? /8 3 01/6 :;69<38 10 140= 346 1 /

/0 3 6; A =5 3 =;? = 1073? 1/8 5/8187/14 8336 =5

C/7 /< 1?/0/89 =; =5 3 7?/<3 /<<36/1 34A 186 = 6/?37

9?18 =5 /8 3?/< 7=<23801 /=8 =8 /0 =F8 <= /=8

/??30237 /C3 =5 1224/71 /=8 =5 C/7 /< /0 5;? 3? 346 1

3 C3?A =B:37 =5 37 /=8 ")!& ? /0 = 21A

7=<23801 /=8 = C/7 /<0 F 3?3 7=<23801 /=8 21/6 ;863?

37 /=8 ")! ? /0 8= 163>;1 3 =? F 3?3 3 7103

38636 /8 17>;/ 14 =? 6/07 1?93 186 F 3?3 3 C/7 /< /0

?3>;/?36 = B3 ?3 1B/4/ 1 36

*" 3 2?/<1?A =B:37 =5 3 2?=C/0/=80 =5 37 /=8&

")! =5 3 =63 =5 ?/</814 ?=736;?3 /0 = 381B43 3

=;? = 6/?37 3 1 3 = 21A 3 7=<23801 /=8 = 3

C/7 /< F 3?3 3 7=<23801 /=8 1F1?636 ;863? 37 /=8&

 )

")! ? /0 /8163>;1 3 /??30237 /C3 =5 3 517 1 3

7103 38636 /8 17>;/ 14 =? 6/07 1?93 186 F 3?3 3 C/7 /<

/0 ?3>;/?36 = B3 ?3 1B/4/ 1 36 3 2?=C/0/=80 =5 37 /=8&

")! 1C3 B338 /87=?2=?1 36 /8 = 3 =63 =5 ?/</814

?=736;?3 =8 3 ?37=<<3861 /=8 =5 )* ?32=? =5 3

1F =<</00/=8 0;B</ 36 /8 3 A31? ( BA / 0

1/?<18 1A17 186?1 366A 3 =<</ 33 31636

BA ;0 /73 14/<1 = ?35=?< 3 ?/</814 ;0 /73

A0 3< 0;B</ 36 ?32=? /8 3 A31? " <1@/89 / 0

?37=<<3861 /=80 = 380;?3 ;0 /73 = 3 C/7 /<0 =5 7?/<3

** 3 23H =;? /8 ;?30 D0 7103 F /43

7=80/63?/89 3 07=23 186 1<B/ =5 37 /=8 ")! 6/07;0036

/8 63 1/4 186 140= 7=80/63?36 3 ?37=<<3861 /=8 <163 BA

)* ?32=? =5 3 1F =<</00/=8 186 ==@ 8= 3 =5 3

01/6 ?37=<<3861 /=8 F /43 1F1?6/89 7=<23801 /=8 = 3

C/7 /<

*) 3 1?81 1@1 13 =C3?8<38 F /43 /00;/89

8= /5/71 /=8 61 36 12238636 = 3 07 36;43

38 187/89 3 7=<23801 /=8 186 3 23H =;? /8 3

 )"

:;69<38 ?353??36 0;2?1 /8 ;?30 D0 103 346 1 3?3

<;0 B3 ;8/5=?</ A /8 3 <1 3? =5 5/H/89 7=<23801 /=8 /8

3?<0 =5 3 2?=C/0/=80 =5 37 /=8&")! =5 ?

B3 F338 1 30 186 3?3 0 144 8= B3 1?B/ ?1?/8300 /8

1F1?6/89 7=<23801 /=8 186 140= /00;36 6/?37 /=80 = 144

3 1 30 = 5=?<;41 3 3 122?=2?/1 3 07 3<3 16=2 /89

3 07 3<3 8= /5/36 BA 3 1 3 =5 3?141 ;84300 3

07143 1F1?636 BA 18A = 3? 1 3 /0 /9 3? 186 3 13

=5 1?81 1@1 10 14?316A /00;36 8= /5/71 /=8 ?353??36 0;2?1

*( 3 23H 7=;? /8 8@;0 D0 7103 186 ;?30 D0

7103 <163 / 7431? 1 7=<23801 /=8 10 = B3 1F1?636

/??30237 /C3 =5 F 3 3? 3 7103 38636 /8 17>;/ 14 =?

6/07 1?93 3 =B4/91 /=8 710 ;2=8 3 7?/</814 =;? 0

;863? 37 /=8 . ")! /0 1 0 1 ; =?A =B4/91 /=8 186 / 0

=B:37 0 186 <318/89 718 B3 17 /3C36 =84A F 38 3

7?/</814 =;? 0 1F1?6 ?3>;/0/ 3 7=<23801 /=8 10 23? 3

8= /5/71 /=8 /00;36 BA 3 =C3?8<38 =5 1?81 1@1 =<3

321? <38 % ?/<30' F/ =; 51/4

 )*

*! 1C/89 1@38 8= 3 =5 3 ?37=<<3861 /=8 =5 3

)* ?32=? =5 3 1F =<</00/=8 186 140= 3 2?/87/2430

41/6 6=F8 /8 3 :;69<38 0 ?353??36 0;2?1 F3 1?3 =5 3

7=80/63?36 =2/8/=8 1 3 ?/14 =;? 0 1C3 = 1@3 8= 3

=5 3 C3?A =B:37 =5 37 /=8 ")! 1<38636 37 /=8 ")!

=5 ? 186 3H3?7/03 3 2=F3?0 :;6/7/=;04A = 1F1?6

0;/ 1B43 7=<23801 /=8 /0 140= 3 7=80/63?36 =2/8/=8 =5

/0 =;? 1 144 3 ;B4/7 ?=037; =?0 F = 1?3

?32?3038 /89 3 13 = 122?1/03 3 =;? 0 ?391?6/89

3 81 ;?3 =5 3 7?/<3 9?1C/ A =5 3 =553873 186 <1@3

3/? 38631C=? = 033 1 122?=2?/1 3 038 3873 10 = B3

/<2=036 =8 3 177;036 3 /?37 =? =5 ?=037; /=8 186

=C3?8<38 / /91 /=8 /8 1?81 1@1 38914;?; /0 140=

6/?37 36 = /00;3 8373001?A 7/?7;41? /<2=0/89 3 =B4/91 /=8

=8 3 21? =5 144 3 ;B4/7 ?=037; =?0 F=?@/89 /8 3

1 3 = <1@3 35537 /C3 ?32?3038 1 /=8 B35=?3 3 =;? 0 =

1F1?6 0;/ 1B43 7=<23801 /=8 8= =84A /8 3?<0 =5 37 /=8

")! =5 ? B; 140= /8 3?<0 =5 37 /=8 ")!& =5 ?

 ))

*+ /0 140= 8373001?A = 6/?37 3 39/0 ?1?

383?14 =5 /0 /9 =;? = /00;3 8373001?A 7/?7;41?0 =

3 ;6930 F = 1?3 F=?@/89 /8 3 /0 ?/7 ;6/7/1?A =

/<243<38 3 07 3<3 =5 C/7 /< 7=<23801 /=8 BA @332/89

3 C3?A =B:37 =5 3 0 1 ;3 186 1F1?6 122?=2?/1 3

7=<23801 /=8 = 3 C/7 /< /0 =B03?C36 BA /0 =;?

1 F /43 038 387/89 3 177;036 140= 3 177;036

=?/38 36 :;0 /73 /0 8= /736 186 3 01<3 /0 8= /8 3 43 3?

186 02/?/ =5 3 F/06=< =5 3 439/041 ;?3 3 =;? 0

0 =;46 140= <1@3 38631C=;? = 2?=C/63 C/7 /< =?/38 36

:;0 /73 186 3 01<3 718 B3 6=83 =84A /5 122?=2?/1 3

7=<23801 /=8 /0 1F1?636 = 3 C/7 /< # /43 /<2=0/89

2;8/0 <38 =;? 0 0 =;46 8= =84A @332 /8 C/3F 3 ?/9 0

=5 7?/</8140 B; 140= ?/9 0 =5 C/7 /<0 186 0=7/3 A 1 41?93

10 346 /8 3 :;69<38 =5 23H =;? /8 3 7103 =5

! (

* 8 /0 ?391?6 /0 =;? F=;46 4/@3 = 9/C3

73? 1/8 9;/634/830 = 3 =;? 0 B34=F = 3H3?7/03 3

 )(

2=F3?0 7=853??36 ;2=8 3 =;? 0 ;863? 37 /=80 ")! 186

")!& =5 ? 3 =;? 0 0 =;46 140= 1@3 8= 3 =5 3

71217/ A =5 3 177;036 = 21A 3 7=<23801 /=8 F /43

1F1?6/89 3 C/7 /< 7=<23801 /=8 3873 3 C3?A

07 3<3 ;863? 37 /=8 ")!& =5 ? 140= 10 = B3 @32

/8 </86 6/?37 /89 3 =C3?8<38 = 21A 3

7=<23801 /=8 F 3?3C3? / /0 :;0 186 ?310=81B43 3

9;/634/830 1?3 5=?<;41 36 /8 3 =23?1 /C3 2=? /=8 =5 3

;69<38 = 7=<24A B= BA 3 :;6/7/14 =55/73?0 186 140=

2;B4/7 2?=037; =?0 5=? 35537 /C3 /<243<38 1 /=8 =5 C/7 /<

7=<23801 /=8

) 8 3 2?3038 7103 =8 186 140= F3 1C3

8= /736 1 =;9 3 C/7 /< 10 0;553?36 ?33 5?17 ;?30

/8 3 /87/638 186 0;B:37 36 = ?33 0;?93?/30 =84A 5/83

=5 0 -& 10 B338 /<2=036 BA 3 ?/14 =;? 186 8=

7=<23801 /=8 /0 1F1?636 3 ?/14 =;? 6/6 8= 1@3 8= 3

=5 3 01/6 517 /8 = 7=80/63?1 /=8 F /43 1F1?6/89 038 3873

=5 /<2?/0=8<38 3 =;? 10 51/436 = 1F1?6 18A

7=<23801 /=8 /8 51C=;? =5 3 C/7 /< ;863? 37 /=8 ")! =5

 )!

? 1C/89 1@38 8= 3 =5 3 /87/638 F /7 16 1@38

24173 /8 3 A31? 14<=0 A31?0 1C3 3412036 186

038 387/89 3 177;036 5=? F= A31?0 12231?0 = B3 =8 3

/9 3? 0/63 186 3 01<3 718 B3 7=<23801 36 ?36;7/89

3 01<3 = 0/H <=8 0 186 140= 1F1?6 3 C/7 /<

7=<23801 /=8 = 3 C/7 /< 3873 / /0 122?=2?/1 3 =

?36;73 3 038 3873 =5 /<2?/0=8<38 5?=< F= A31?0 = 0/H

<=8 0

) 8 C/3F =5 3 1B=C3 6/07;00/=8 F3 2100 3

5=44=F/89$

' 3 122314 5/436 BA 3 1 3 /0

144=F36 3 :;69<38 61 36
* " 210036 BA 3 223441 3
=;? /8 ?4 = *) =5 ( /0 03
10/63

' 3 :;69<38 =5 7=8C/7 /=8 61 36

( 210036 BA 3 ?/14 =;?
/8 = !- * /0 ?30 =?36
7=85/?</89 3 7=8C/7 /=8
 )+

' 3 177;036 =0 186 1?3

7=8C/7 36 5=? 3 =5538730 2;8/0 1B43
;863? 037 /=8 " ( =5 86/18 3814
=63 186 <=6/5/36 3 038 3873 =
;863?9= 0/<243 /<2?/0=8<38 5=? 1
23?/=6 =5 0/H <=8 0 186 6/?37 36 =
21A 5/83 =5 0) -& 317 F /7 /0
21A1B43 = # 8 6351;4 =5
21A<38 5/83 317 =5 3 177;036 =
;863?9= 5;? 3? 0/<243 /<2?/0=8<38
=5 =83 A31?

' 3 177;036 =0 186 1?3

7=8C/7 36 5=? 3 =553873 2;8/0 1B43
;863? 37 /=8 " * =5 86/18 3814
=63 186 038 38736 = 21A 5/83 =5
0) -& 317 F /7 0 144 C30 F/
3 13 = 038 3873 =5
/<2?/0=8<38 /0 /<2=036 /5 5/83
1<=;8 /0 21/6

' 3364300 = 13 1 /5 3 177;036

23?0=80 F3?3 /8 7;0 =6A 6;?/89 3
23?/=6 =5 ?/14 3A 1?3 38 / 436 5=?
3 B3835/ =5 03 =55 ;863? 37 /=8
* + =5 ?
 )

35=?3 21? /89 F/ /0 7103 F3 5/86 / 8373001?A = /00;3

9;/634/830 = 3 ;6/7/14 55/73?0 186 3 ;B4/7

?=037; =?0 = 7=<24A F/ 37 /=80 ")! 186 ")! =5

? BA @332/89 /8 </86 3 =B:37 /8 38 186 F/06=< =5

439/041 ;?3

) 3 ?/14 =;? ;6930 1?3 6/?37 36 = @332 /8

</86 3 5=44=F/89 9;/634/830 F /43 038 387/89 3 177;036

23?0=80$

/' # /43 038 387/89 3 =;? 0 1?3

6/?37 36 = 7=80/63? 3 7121B/4/ A =5 3
177;036 = 21A 3 5/83 186 /5 3 177;036 /0
7121B43 = 21A 3 5/83 1<=;8 =?63? 5=?
122?=2?/1 3 5/83 186 7=<23801 /=8

//' 5 3 177;036 /0 8= 7121B43 = 21A

3 7=<23801 /=8 38 6/?37 =? ?353? 3
<1 3? = 3 /0 ?/7 3914 3?C/730 ; =?/ A
= 21A 3 122?=2?/1 3 7=<23801 /=8 F/ 3
7=?2;0 7?31 36 BA 3 13 =C3?8<38 =5
1?81 1@1 /8 3?<0 =5 3 = /5/71 /=8 61 36
 (

///' 3 ?/14 =;? ;6930 0 144 8= =84A

=?63? 5=? 7=<23801 /=8 B; 140= <1@3 18
/8 3?/< =?63? = ?3 1B/4/ 1 3 3 C/7 /<0 10 346
BA 3 23H =;? /8 3 71030 =5 (E; 0
;,- 0 %7/ 36 0;2?1'

/C' 3 ?/14 =;? ;6930 0 144 140=

F /43 1F1?6/89 122?=2?/1 3 7=<23801 /=8 186
2100/89 18 =?63? 5=? /8 3?/< ?3 1B/4/ 1 /=8
@332 /8 </86 3 9?1C/ A =5 3 =5538730
81 ;?3 =5 /8:;?/30 186 3 1<=;8 0238 5=?
?31 <38 F /7 0 =;46 B3 :;0 186 ?310=81B43
186 8= 3H=?B/ 18 8 = 3? F=?60 3
7=<23801 /=8 0 =;46 B3 2?=2=? /=81 3 = 3
9?1C/ A =5 3 =553873

) 3 ;B4/7 ?=037; =?0 1?3 6/?37 36 = @332 /8

</86 3 5=44=F/89 9;/634/830 F /43 100/0 /89 3 =;? =

1F1?6 038 3873 = 3 177;036 23?0=80$

/' 3 ;B4/7 ?=037; =?0 0 144 ?3>;30

3 ?30237 /C3 =;? 0 = /<2=03 3 5/83 186
7=<23801 /=8 F/ 3 43 3? 186 02/?/ =5
37 /=80 ")! 186 ")!& =5 ?

//' 3 ?/14 =;? 0 1C3 = 63 3?</83

F 3 3? 3 177;036 /0 7121B43 = 21A 3 5/83
 (

=? 3 7=<23801 /=8 1<=;8 /5 8= 3 01<3

10 = B3 ?353??36 = 3 /0 ?/7 3914 3?C/730
; =?/ A

///' 3 431?836 ;B4/7 ?=037; =?0 0 144

140= <1@3 8373001?A 1224/71 /=8 B35=?3 3
=;? = <1@3 /8 3?/< 1??1893<38 0 =
?3 1B/4/ 1 3 3 C/7 /< /8 =?63? = 5;45/44 3 C3?A
=B:37 =5 37 /=80 ")! 186 ")!& =5 ? 10
346 BA 3 23H =;? /8 3 71030 =5 8@;0
186 ;?30 %7/ 36 0;2?1'

)" 3 39/0 ?1? 383?14 /0 6/?37 36 = 7/?7;41 3

/0 :;69<38 = 144 3 ;6/7/14 55/73?0 =5 3 1 3 F/ 1

6/?37 /=8 = 7=<24A F/ 3 =B:37 186 /8 38 =5 37 /=80

")! 186 ")!& =5 ? 186 3 /?37 =? =5 ?=037; /=8 =

7/?7;41 3 3 01<3 = 144 3 ?=037; =?0 F=?@/89 /8 3

1 3 /874;6/89 3 1 3 ;B4/7 ?=037; =?0

6-& 6-&

0<1-8B<