Future Self Book
Future Self Book
('&
!"# $%& %'( )"# $%*'+ !"# ,*-" ./"*#0#123 $4*(# )5 ,%&&*'#226
75'8*(#'/#6 %'( 94//#22 !"#$% &'( )*++#,'(-.
!"#$%&'() %* +'( ,*%+() -+.+(& #/0 6'7 64*81K A(=<: """<%'7%4*81<=45> L !"#$%&'() %*
1"&+2.$%. #/0 6'7 64*81 /*8$3'+#' 9$7< M$B<: """<%'7%4*81<=45<'* L !"#$%&'() %* +'( ,*%+()
3%*4)56 #/0 6'7 64*81 ;?K M$B<: """<%'7%4*81<=4<*@ L !"#$%&'() %* 7*)%. #/0 6'7 64*81
9*0+#8%138 A(B#': """<%'7%4*81<=4<#(
/++ 3#E%$8 31813,1B< R4 D'3$ 42 $%#8 044@ 5'7 01 31D34B*=1B 07 '(7 51=%'(#='+K D%4$4E3'D%#=K
43 1+1=$34(#= D34=188K 43 #( $%1 2435 42 ' D%4(4E3'D%#= 31=43B#(ES (43 5'7 #$ 01 8$431B #( '
31$3#1,'+ 878$15K $3'(85#$$1BK 43 4$%13"#81 01 =4D#1B 243 D*0+#= 43 D3#,'$1 *81T4$%13 $%'( 243
U2'#3 *81V '8 03#12 W*4$'$#4(8 1504B#1B #( '3$#=+18 '(B 31,#1"8T"#$%4*$ D3#43 "3#$$1( D135#88#4(
42 $%1 D*0+#8%13<
X%1 '*$%43 42 $%#8 044@ B418 (4$ B#8D1(81 51B#='+ 'B,#=1 43 D318=3#01 $%1 *81 42 '(7 $1=%(#W*1
'8 ' 2435 42 $31'$51($ 243 D%78#='+K 154$#4('+K 43 51B#='+ D340+158 "#$%4*$ $%1 'B,#=1 42 '
D%78#=#'(K 1#$%13 B#31=$+7 43 #(B#31=$+7< X%1 #($1($ 42 $%1 '*$%43 #8 4(+7 $4 42213 #(2435'$#4( 42 '
E1(13'+ ('$*31 $4 %1+D 74* #( 74*3 W*18$ 243 154$#4('+K D%78#='+K '(B 8D#3#$*'+ "1++Y01#(E< A( $%1
1,1($ 74* *81 '(7 42 $%1 #(2435'$#4( #( $%#8 044@ 243 74*381+2K $%1 '*$%43 '(B $%1 D*0+#8%13
'88*51 (4 318D4(8#0#+#$7 243 74*3 '=$#4(8<
81&&"6( +'( @5*&@%5"&*(&& 5A #(%*4 +'( 5*( /5" B.*+ +5 #(: .*) /5" B%$$
#( &.C() A256 /5"2 D2(&(*+ &+.+(=>
TR1,#++1 O4BB'3B]
k( $%1 1,1(#(E 42 k=$4013 ^K GH]`K #(8$1'B 42 8$*B7#(E 243 %#8 ]]$%Y
E3'B1 %#8$437 $18$K ][Y71'3Y4+B P#557 &4('+B84( 2#+51B 24*3 c4*X*01
,#B148<
a%#+1 P#557 %'B 011( '=$#,1+7 =31'$#(E c4*X*01 ,#B148 243 4,13 $%311
71'38K $%181 31=43B#(E8 "131 B#22131($< j'$%13 $%'( B4#(E =4551($'3#18 4(
,#B14 E'518 43 B#8=*88#(E $%1 +#,18 '(B #(=4518 42 2'54*8 c4*X*0138 '8
%1 (435'++7 B#BK P#557 #(,#$1B %#8 '*B#1(=1 $4 8#$Y#( 4( $%1 #($#5'$1 '(B
,*+(13'0+1 =4(,138'$#4(8 %1 %'B <*)" "*>2#?8<
A( $%1 2#38$ 81E51($K P#557 8D4@1 $4 %#8 b*$*31 )1+2K _ 54($%8 #($4 $%1
2*$*31<
A( $%1 81=4(B ,#B14K %1 $'+@1B $4 %#8 b*$*31 )1+2K ]G 54($%8 #($4 $%1
2*$*31<
A( $%1 $%#3B 31=43B#(EK %1 'BB31881B %#8 b*$*31 )1+2K ` 71'38 #($4 $%1
2*$*31<
/(B #( $%1 24*3$%K %1 8D4@1 $4 %#8 b*$*31 )1+2K ]H 71'38 #($4 $%1 2*$*31<
Q'=% ,#B14 +'8$1B '34*(B $"4 5#(*$18<
R4$%#(E =3'f7<
I*$ #( $%481 D#,4$'+ 5451($8K P#557 "'8 =45D+1$1+7 3'" '(B %4(18$
'04*$ "%'$ %1 "'($1BK '(B "%'$ %1 1dD1=$1BK 42 %#8 b*$*31 )1+2<
j'$%13 $%'( D*0+#8%#(E $%181 ,#B148 #551B#'$1+7 '8 %1 (435'++7 "4*+BK
%1 8=%1B*+1B 1'=% =+#D $4 D*0+#8% #( $%1 2*$*31T1d'=$+7 _ 54($%8K ]G
54($%8K ` 71'38K '(B ]H 71'38 318D1=$#,1+7 2345 k=$4013 ^K GH]`<
)#d 54($%8 +'$13K 4( /D3#+ ^K GH]_K $%1 2#38$ ,#B14 "1($ +#,1 4( P#557e8
c4*X*01 =%'((1+<G
X%1 ,#B14 01E'( "#$% P#557 8%4"#(E %#8 =45D*$13 8=311( '(B
%#E%+#E%$#(E $%1 =*331($ 8$'$8 42 %#8 c4*X*01 =%'((1+<
U/$ $%1 $#51 Ae5 2#+5#(E $%#8 ,#B14K A %',1 \KHHH 8*08=3#0138 '(B
]<\ 5#++#4( ,#1"8< )4K "%1(1,13 74* 811 $%#8K =45D'31 $%181 (*50138
$4 "%'$1,13 A %',1 "%1( 74* "'$=% $%#8<V
R4$ 4(+7 B#B P#557 '=%#1,1 %#8 _Y54($% E4'+K 0*$ 07 $%1 $#51 %#8 ]GY
54($% =4)41# V# ,#B14 31+1'81B 4( k=$4013 ^K GH]_K P#557 %'B #(=31'81B
%#8 8*08=3#0138 $1(24+B 8#(=1 %#8 _Y54($% 2*$*31 51 ,#B14 "1($ +#,1T%1
(4" %'B 4,13 GHHKHHH 8*08=3#0138<
61 =4(8#8$1($+7 5'B1 ,#B148 ,#1"1B 07 5#++#4(8<
6#8 ,#B148 E31" 04+B13 '(B 5431 #((4,'$#,1<
61 2*++7 1503'=1B $%1 03'(B 42 %#8 '+$13 1E4TV1@#%2)W
X%1 =31'$#4( 42 %#8 2*$*31 51 ,#B148 01='51 ' $*3(#(EYD4#($ #( P#557e8
+#21< X%181 ='(B#B =4(,138'$#4(8 5'3@1B ' =3*=#'+ #(2+1=$#4( D4#($ "%1(
P#557 E4$ =4*3'E14*8 $4"'3B %#8 B31'58< a#$%#( ' 21" 71'38K %1 5'B1
%*(B31B8 42 5#++#4(8 42 B4++'38 '8 $%1 2'8$18$ 3#8#(E #($13(1$ 81(8'$#4(K
#0#1W
N3I1'8$e8 D87=%4+4E7 '(B =455#$51($ 8%#2$1B $%'$ (#E%$ %1 8@#DD1B %#8
%#8$437 $18$ $4 E4 D*0+#= '04*$ %#8 b*$*31 )1+2< c4* ='( '=$*'++7 811 ' =+1'3
B#8$#(=$#4( 2345 P#557e8 ,#B148 D31 '(B D48$ k=$4013 GH]`< 61 2#+51B
%#581+2 +188 42$1( 01%#(B $%1 8=311( D+'7#(E ,#B14 E'518 '(B 5431 42$1(
#( 234($ 42 $%1 ='513'< 61 D*5D1B $%1 N3I1'8$ =4(=1D$ '(B 03'(B '(B
31=3*#$1B 23#1(B8 "%4 01='51 =4554( 21'$*318 #( %#8 ,#B148 $4 8*DD43$
$%1 N3I1'8$ #B14+4E7<
k( P*(1 ]K GH]_K %#8 2#38$ ,#B14 "1($ 8*D13 ,#3'+K E'3(13#(E 5431 $%'( GH
5#++#4( ,#1"8< 61 '(B %#8 23#1(B8 "131 8%4"( =4551($#(E 4( $%1 018$
c4*X*01 #($34B*=$#4(8< X%1 1D#84B1 %'B 5431 ,#8*'+ 1221=$8K '(B N3I1'8$
%#581+2 %'B 5431 =4(2#B1(=1 '(B 8"'EE13<o
&'78 +'$13K %1 #($34B*=1B %#8 E34"#(E 8$7+1 42 B4#(E 1#$%13 #($1318$#(E
8$*($8 43 3#B#=*+4*8 21'$8< 61 04*E%$ '( 4*$B443 D#=(#= $'0+1 '(B =*$ $%1
"%4+1 $%#(E #( %'+2K *8#(E 4(+7 D+'8$#= 0*$$13 @(#,18< 61 8D1($ 5431 $%'(
p_H $4 D*3=%'81 $%4*8'(B8 42 D+'8$#= @(#,18 $4 '==45D+#8% $%1 $'8@ $%'$
$44@ B4f1(8 42 %4*38 $4 B4< X%'$ ,#B14 31=1#,1B 5431 $%'( $%311 5#++#4(
,#1"8<^
k( /*E*8$ GoK GH]_K N3I1'8$ E'3(131B $"4 5#++#4( ,#1"8 42 %#8 23#1(B
"3'DD#(E %#5 #( ]HH 34++8 42 8'3'( "3'D<`
k( k=$4013 ]_K GH]_K %1 D*0+#8%1B ' 8@#$ 42 %#581+2 D31$1(B#(E $%'$
1,137 4(+#(1 'B %1 31'B #551B#'$1+7 01='51 31'+<_ Ua#( ' 2311 #9'BV
01='51 ' (1" #9'B $%'$ '++Y42Y'Y8*BB1( 'DD1'31B 4( %#8 B4438$1D< U6',1
74*3 +'D$4D 3*( ]HH $#518 2'8$13V #(8$'($+7 D34B*=1B ' (1" +'D$4D #( %#8
+'D< b4++4"#(E ' 3*((#(E =4551($'37 "#$% J4@18K $%1 'B,1($*31 1(B1B
"%1( %1 '(B %#8 23#1(B8 B18$3471B $%1 =45D*$138 *81B #( $%1 ,#B14<
X%'$ ,#B14 E4$ N3I1'8$ '(4$%13 (#(1 5#++#4( ,#1"8<
k( P'(*'37 \K GH][K N3I1'8$ +#,18$31'51B %#581+2 =4*($#(E $4
]HHKHHH<[ X%1 21'$ $44@ '+548$ ^H %4*38 '(B 318*+$1B #( 4,13 GH 5#++#4(
,#1"8< / 54($% +'$13 %1 =4*($1B $4 GHHKHHHK '(B $%1( $4 oHHKHHH<\KZ
A( /*E*8$ 42 GH][K %1 2#+51B %#581+2 8'7#(E UM4E'( 9'*+V ]HHKHHH
$#518<]H
/8 %#8 8$*($8 01='51 5431 3#B#=*+4*8 '(B '08*3BK P#557 1,4+,1B #($4
%#8 B18#31B b*$*31 )1+2< 6#8 1dD13#51($'$#4( 01='51 04+B13< 61 B1,1+4D1B
B4('$#4( ,#B148 '8 ' 8$'D+1 42 %#8 E34"#(E 03'(B<
k( P*(1 ]`K GH][K %1 D*0+#8%1B ' ,#B14 42 %#581+2 E#,#(E p]HKHHH $4 '
%451+188 5'(<]] M'$13K %1 E',1 p]KHHH $4 ]H B#22131($ %451+188 D14D+1<]G
k( /*E*8$ ]`K GH][K %1 2#+51B %#581+2 B4('$#(E p]HKHHH $4 3'(B45
X"#$=% )$31'5138TD14D+1 "%4 D+'7 ,#B14 E'518 D*0+#=+7 4( $%1
#($13(1$<]o
6#8 B4('$#4( ,#B148 %#E%+#E%$1B $%1 %78$13#='+ 31'=$#4(8 42 $%1 D14D+1
"%4 31=1#,1B +'3E1 '54*($8 42 54(17 *(1dD1=$1B+7<
k( /*E*8$ GoK GH][K P#557 D*0+#8%1B ' ,#B14 42 %#581+2 $#DD#(E D#ff'
B1+#,137 E*78 p]HKHHHK '(B +'*E%#(E '$ $%1#3 4,13"%1+5<]^ 61 %*EE1B '(
4+B13 5'( "%4 8D4@1 $%34*E% %#8 $1'38 '04*$ %4" 5*=% $%1 54(17 "4*+B
#5D'=$ %#5 '(B %#8 "#21<
k( /*E*8$ oHK GH][K P#557 $#DD1B ;013 B3#,138 p]HKHHH<]`
A( 'BB#$#4( $4 B4('$#(E +'3E13 '(B +'3E13 8*58 42 54(17T"%#=% %1
43#E#('++7 E4$ 2345 ,'3#4*8 8D4(8438 42 %#8 ,#B148TN3I1'8$ D1324351B
0#EE13 8$*($8 '(B E'518 "%131 D14D+1 =4*+B "#( E31'$13 8*58 42 54(17<
61 $18$1B %4" 5'(7 0'++44(8 "131 (11B1B $4 +#2$ %#5 422 $%1 E34*(BK
B34,1 5431 $%'( ]HH %4*38 $4 D*3=%'81 ' )(#=@138 0'3 2345 1,137 a'+5'3$
#( %#8 8$'$1K 04*E%$ ' ='3 "#$% 4(+7 D1((#18K '(B E',1 $%311 5#++#4( D1((#18
$4 $%1 D1384( "%4 01='51 %#8 $%311 5#++#4($% 8*08=3#013<]_K][K]\K]Z
I7 k=$4013 ^K GHGHK "%1( %#8 $%#3B 2*$*31 51 ,#B14 '#31BK N3I1'8$ %'B
01=451 $%1 2'8$18$ 3#8#(E c4*X*013 4( $%1 #($13(1$<
,# "%( >51# )"%' XS >*??*5' 24O2/1*O#12W
61eB 01=451 ' %4*81%4+B ('51<
61 4D13'$1B ' 0*8#(188 "#$% ' $1'5 42 5431 $%'( oH D14D+1 '(B '(
'((*'+ 31,1(*1 #( 1d=188 42 p]HH 5#++#4(<
6#8 ,#B148 ',13'E1B oH 5#++#4( ,#1"8T8451 "#$% %*(B31B8 42 5#++#4(8
42 ,#1"8<
/ +#$$+1 5431 =4($15D+'$#,1 $%'( %#8 _Y '(B ]GY54($% ,#B148K P#557e8
,* V# D' Y H#%12 31=43B#(E 8%4"1B ' ][Y71'3Y4+B P#557 =4((1=$1B "#$% '
5*=% B#22131($ '(B 0#EE13 b*$*31 )1+2<
j#E%$ (4"K Ae5 #( %#E% 8=%44+< a%1( 74* 811 $%#8K A "#++ 01 #(K *% < <
< Ae5 (4$ 1,1( E4#(E $4 01 #( =4++1E1< X%#8 #8 E4#(E $4 01 '2$13 =4++1E1<
a4"< &*B1< X%#8 #8 E4#(E $4 01 /1%ZCq
X%1 $%4*E%$ ,#8#0+7 $133#2#18 %#5< 61 =4,138 %#8 54*$% '8 #2 $4 8$4D $%1
"43B8< 6#8 1718 "#B1(< M44@#(E 23#E%$1(1BK %1 =4($#(*18<
/2$13 =4($15D+'$#(E $%1 D4$1($#'+ $%'$ %1 =4*+B 01 B1'B "%1( $%#8 ,#B14
E418 +#,1 4( %#8 c4*X*01 =%'((1+K %1 E34"8 813#4*8 '04*$ %#8 b*$*31 )1+2<
A B4(e$ 1,1( @(4" "%'$ =4++1E1 Ae5 E4#(E $4< I*$ 07 $%1 $#51 74*
"'$=% $%#8 ,#B14K Ae++ %',1 2#(#8%1B %#E% 8=%44+K E4(1 $4 =4++1E1 < < <
D340'0+7 01 B4#(E c4*X*01 '8 ' J40< 64D12*++7 < < < N'701 < < < N'701
<<<
&*B1K A 31'++7 %4D1 A %',1 ' 5#++#4( 8*08 07 (4"< B?#%2# 84)41# >#6
&?#%2#< a%'$ '5 A B4#(E "#$% 57 %'(Bn
/$ $%1 "3#$#(E 42 $%#8 044@T&1=15013 42 GHG]T#$e8 011( ' +#$$+1 4,13 '
71'3 8#(=1 N3I1'8$e8 ,* V# D' Y H#%12 ,#B14 "1($ +#,1<
P#557 %'8 5431 $%'( \G 5#++#4( 8*08=3#0138< 6#8 8$*($8 E1$ 04+B13<
R4$ 4(+7 B#B P#557 01=451 %#8 B18#31B b*$*31 )1+2K %1 8%'$$131B %#8
,#8#4( 'E'#( '(B 'E'#(<
b345 '( 4*$8#B1 D138D1=$#,1K P#557e8 $3'(82435'$#4( 4,13 $%1 D'8$ 8#d
71'38 #8 '+548$ *(01+#1,'0+1< 61 "1($ 2345 ' ][Y71'3Y4+B @#B "#$% f134
54(17 5'@#(E ,#B148 #( %#8 01B3445 $4 01#(E 4(1 42 $%1 548$ 2'54*8
D14D+1 #( $%1 "43+B< Qd$3151+7 "1'+$%7 '(B 0*8#(188 8',,7K %1 '8D#318 $4
4(1 B'7 01=451 D318#B1($ 42 $%1 ;(#$1B )$'$18<
&4 51$%4B4+4E#18 1d#8$ $%'$ 74* '(B A ='( 24++4" $4 =31'$1 8#5#+'3
318*+$8 #( 4*3 4"( +#,18n X%1 1d=#$#(E '(8"13 #8 %O25?4)#?C C#2< j1=1($
3181'3=% #( D87=%4+4E7 D34,#B18 '( 1d$3151+7 8#5D+1 1dD+'('$#4( 243
N3I1'8$e8 '5'f#(E $3'(82435'$#4(< c4* ='( 'DD+7 $%1 D34=188 243 B18#31B
318*+$8 '(B =%'(E1 #( 74*3 4"( +#21<
X%#8 044@ "#++ 8%4" 74* 1d'=$+7 %4"<
M1,1+ 4(1 #8 $%1 '0#+#$7 $4 1dD+'#( "%'$ %'DD1(1B< A( $%#8 ='81K 74*
=4*+B 8'7: %1 "1($ $4 8=%44+< X%'$e8 $%1 "%'$<
M1,1+ $"4 #8 $%1 '0#+#$7 $4 1dD+'#( %4" $%1 01%',#43 %'DD1(1B< A( $%#8
='81K 74* =4*+B 8'7: %1 E4$ ' 3#B1 $4 8=%44+<
M1,1+ $%311 #8 01#(E '0+1 $4 1dD+'#( "%7 $%1 01%',#43 %'DD1(1B< X%131 #8
'+"'78 ' "%7 243 1,137$%#(E 84514(1 B418< X%'$ "%7 #8 $%1#3 31'84( 43
E4'+ 243 "%'$ $%17e31 B4#(E<
?(4"#(E $%1 "%7 #8 $%1 B11D18$ '(B 548$ D4"132*+ 2435 42 @(4"+1BE1
01='*81 $%1 "%7 #8 '+"'78 $%1 B3#,13 42 $%1 "%'$ '(B %4"< a%1( 74*
*(B138$'(B "%7 $%1 8$4=@ 5'3@1$ E418 *D '(B B4"(K 5'@#(E #(24351B
B1=#8#4(8 '04*$ #(,18$#(E 01=4518 1'8#13< a%1( 74* *(B138$'(B "%7
84514(1 B418 "%'$ $%17 B4K $%1#3 '=$#4(8 '(B 01%',#438 5'@1 ' +4$ 5431
81(81<
X%131 #8 '+"'78 ' "%7 43 E4'+ 01%#(B %*5'( 01%',#43< X%131 #8 '
D*3D481 43 31'84( 243 '++ %*5'( '=$#,#$7< X%1 5431 =4(8=#4*8 '(B =+1'3
74* '31 '04*$ =%448#(E 74*3 D*3D481 '(B E4'+8K $%1 %4" 01E#(8 $4 $'@1
='31 42 #$81+2< c4*3 01%',#43 24++4"8 74*3 D*3D481 '(B E4'+8< a#$%4*$
=4(8=#4*8 D*3D481K $%1 %4" 01=4518 =4(2+#=$1B '(B =%'4$#=<
/++ E4'+8 43 54$#,'$#4(8 2#$ "#$%#( $"4 ='$1E43#18: 'DD34'=% 43
',4#B<GZKoH X%1 31'84( 243 B4#(E '(7$%#(E #8 1#$%13 $4 'DD34'=% 8451$%#(E
74* "'($ $4 %'DD1(K 43 $4 ',4#B 8451$%#(E 74* B4(e$ "'($ $4 %'DD1(< /8 '
3*+1K \H D13=1($ 42 D14D+1 '31 D3#5'3#+7 B3#,1( 07 21'3 43 ',4#B'(=1K "%#+1
GH D13=1($ 42 D14D+1 '31 B3#,1( 07 'DD34'=% '(B =4*3'E1<
/8 &3< &',#B 6'"@#(8 1dD+'#(8:
I7 4*3 ('$*31 '8 3'$#4('+K =4(8=#4*8 =31'$*318K "1 ='((4$ %1+D 0*$
$%#(@ 42 $%1 2*$*31< I*$ 548$ D14D+1K 4*$ 42 21'3K +#5#$ $%1#3 ,#1" 42
$%1 2*$*31 $4 ' ('334" 3'(E1< X%4*E%$8 42 $454334"K ' 21" "11@8
'%1'BK D13%'D8 ' ,'E*1 D+'( 243 $%1 54($%8 $4 =451< a1 '31 E1(13'++7
B1'+#(E "#$% 84 5'(7 #551B#'$1 0'$$+18 $%'$ #$ #8 %'3B 243 *8 $4 +#2$
4*3 E'f1 '04,1 $%1 5451($< A$ #8 ' +'" 42 D4"13K %4"1,13K $%'$ $%1
2*3$%13 '(B B11D13 "1 =4($15D+'$1 $%1 2*$*31K $%1 E31'$13 4*3 ='D'=#$7
$4 8%'D1 #$ $4 4*3 B18#318<oG
I1#(E B3#,1( 07 21'3 #8 ' +4"13 8$'$1 42 =4(8=#4*8(188 $%'( 01#(E B3#,1(
07 =4*3'E1 '(B ,#8#4(< &11D 154$#4('+ B1,1+4D51($ #8 31W*#31B $4
$3'(8#$#4( 0174(B 21'3 '8 74*3 B3#,13 $4 +1,1+8 42 '==1D$'(=1K =4*3'E1K '(B
+4,1 '8 31'84(8 243 '=$#4(<
A( 'BB#$#4( $4 21'3 01#(E ' =431 154$#4('+ B3#,13 42 %*5'( '=$#4(K 8451
D87=%4+4E#8$8 01+#1,1 %*5'( 01#(E8 %',1 (4$ 1,4+,1B $4 1221=$#,1+7 $%#(@
71'38 43 B1='B18 #($4 $%1 2*$*31<oo k*3 %*($13YE'$%1313 '(=18$438 "131(e$
D+'((#(E 243 31$#3151($ 07 'E1 _`< A(8$1'BK $%17 "131 8$3'$1E#f#(E 243 $%1#3
(1d$ 51'+ 43 $37#(E $4 ',4#B 01#(E 1'$1(<
/8 2*3$%13 D3442 $%'$ D14D+1 8$3*EE+1 $4 $%#(@ '%1'BK =4(8#B13 $%'$ $%1
51B#'( 'E1 '( /513#='( 8$'3$8 D+'((#(E 243 31$#3151($ #8 G[< /(B "#$%
'+548$ 24*3 B1='B18 $4 '==45D+#8% $%1#3 E4'+K $%1 51B#'( 31$#3151($
8',#(E8 $4$'+8 p]H[KHHH< /8 E31'$ '8 $%#8 (*5013 84*(B8 $4 ' G[Y71'3Y4+BK
$%'$e8 4(+7 po]H 42 54($%+7 #(=451 '2$13 31$#3151($<
a%44D8<
)D1'@#(E 42 'E1 _`K '(4$%13 31'84( D14D+1 +#@1+7 8$3*EE+1 =4($15D+'$#(E
'(B 8$3'$1E#f#(E 243 ' +4(EY$135 2*$*31 #8 $%'$ $%1 ',13'E1 %*5'( +#21
1dD1=$'(=7 %'8 (1'3+7 B4*0+1B 4,13 $%1 D'8$ ]`H 71'38< A( ]\_HK $%1
',13'E1 +#21 1dD1=$'(=7 #( /513#=' "'8 oZ 71'38 4+B<o^ Q#E%$7 71'38 #8 '
+4(E $#51 $4 +44@ '%1'B '(B D+'( 243<
a1 %',1 ' +4$ 42 $%#(E8 "43@#(E 'E'#(8$ *8 "%1( #$ =4518 $4 +#,#(E
1221=$#,1+7< )%#2$#(E 4*3 E4'+8 2345 21'3Y0'81BK 31'=$#,1K '(B 8%43$ $135 $4
D34'=$#,1K +4(E $135K '(B +4,1Y0'81B #8 $%1 D'$% $4 ' 8*==1882*+ '(B %'DD7
+#21< c4*3 ,#1" 42 74*3 b*$*31 )1+2 #8 $%1 =45D'88 $%'$ B3'"8 74* 243"'3B<
X%#8 $'@18 *8 $4 $%1 E34"#(E 04B7 42 3181'3=% 4( $%1 8*0J1=$8 42
D348D1=$#4(K #B1($#$7K '(B b*$*31 )1+2< A(=31'8#(E (*50138 42 D87=%4+4E#8$8
'31 24=*8#(E $%1#3 3181'3=% 4( $%1 #5D43$'(=1 42 ' D1384(e8 ,#1" 42 $%1#3
4"( b*$*31 )1+2< XQ& X'+@8 07 D345#(1($ D87=%4+4E#8$8 '31 '#51B '$ $%1
=3#$#='+ #5D43$'(=1 42 4(1e8 =4((1=$#4( $4 '(B =31'$#4( 42 $%1#3 4"( b*$*31
)1+2<
C4(8#B13 $%1 $%1518 42 $%1 24++4"#(E XQ& X'+@8 E#,1( #( 31=1($ 71'38:
>A6 T;0E<BU 4F 34NN63B<4N U4; A056 V<BA U4;1 4VN D;B;16 #6EF
26B61W<N6C BA6 T;0E<BU 4F U4;1 E<F6 0N2 96A05<41C N4V) j181'3=% 8%4"8
$%'$ $%1 5431 =4((1=$1B 74* '31 $4 74*3 4"( b*$*31 )1+2K $%1 "#813
B1=#8#4(8 74* 5'@1 %131 '(B (4"< C4($15D+'$#(E 74*3 b*$*31 )1+2K 74*e31
5431 +#@1+7 $4 #(,18$ #( '(B 81$ 74*381+2 *D 243 '( '0*(B'($ 31$#3151($K
1d13=#81 '(B 1'$ %1'+$%#13K '(B 74*e31 +188 +#@1+7 $4 1(E'E1 #( B1+#(W*1($ 43
81+2YB121'$#(E '=$8<^_K^[K^\
X%1 b*$*31 )1+2 =4(=1D$ #8 8#5D+1 71$ 3'31+7 D3'=$#=1B< X4 5'@1 W*'+#$7
B1=#8#4(8K @(4" "%131 $%481 B1=#8#4(8 "#++ $'@1 74*< &1=#8#4(8 '(B
'=$#4(8 '31 018$ "%1( 31,1381Y1(E#(1131B 2345 ' B18#31B 4*$=451< )$'3$
"#$% "%'$ 74* "'($ '(B "43@ 0'=@"'3B< X%#(@ '(B '=$ 815> 74*3 E4'+K
3'$%13 $%'( $4"'3B 74*3 E4'+< c4*3 03'#( B418 $%#8 '*$45'$#='++7< A(B11BK
(1*348=#1($#8$8 (4" 'E311 $%1 03'#( #8 1881($#'++7 ' UD31B#=$#4( 5'=%#(1KV
E*#B#(E 01%',#43 $4"'3B $%1 1dD1=$1B 2*$*31<^Z M1'3(#(E #8 $%1 D34=188 42
*DB'$#(E '(B #5D34,#(E 4*3 03'#(e8 D31B#=$#4(8<`H
X%1 =+1'313 74* '31 4( "%131 74* "'($ $4 E4K $%1 +188 B#8$3'=$1B 74*e++
01 07 1(B+188 4D$#4(8<
a%1( 74*e31 B#8=4((1=$1B "#$% 74*3 b*$*31 )1+2K 74* E1$ ='*E%$ *D #(
*3E1($ E4'+8 $%'$ 42$1( 318*+$ #( +4"YW*'+#$7 01%',#43 #( $%1 D3181($< b43
$%1 5'J43#$7K $%#8 #8 $%1 (435<
N'(7 D14D+1 '31 D3#5'3#+7 B3#,1( 07 8%43$Y$135 E4'+8K "%#=% '31
B#8=4((1=$1B 2345 $%1 +4(EY$135 31D13=*88#4(8 42 $%481 B1=#8#4(8< X%#8
31'+#$7 #8 B1D#=$1B #( ' GH]H 1D#84B1 42 !"# 9*>&25'2K UN4(17I'3$KV "%1(
64513K '( #3318D4(8#0+1 2'$%13K #8 =4(234($1B "#$% %#8 318D4(8#0#+#$#18 '(B
8%#3@8 $%15 "#$% '+=4%4+<`]
6#8 "#21K N'3E1K $3#18 $4 E1$ 64513 0'=@ 4( $3'=@< U)451B'7K $%181 @#B8
"#++ 01 4*$ 42 $%1 %4*81K '(B 74*e++ 31E31$ (4$ 8D1(B#(E 5431 $#51 "#$%
$%15<V
UX%'$e8 ' D340+15 243 2*$*31 64513<V 61 8%'@18 %#8 %1'B< UN'(K A B4(e$
1(,7 $%'$ E*7<V 64513 D4*38 ,4B@' #($4 ' 5'74(('#81 J'3K B3#(@8 $%1
=4($1($8K '(B =4++'D818 42 '( 'DD'31($ %1'3$ '$$'=@<
a1 +'*E% '$ 64513 01='*81 "1 @(4" B11D B4"( $%'$ "1 '31 $%1 8'51<
a1 5'7 (4$ 01 =%448#(E 5'74(('#81 '(B ,4B@' 4,13 4*3 =%#+B31(K 0*$ "1
@(4"#(E+7 +1',1 D340+158 243 4*3 b*$*31 )1+,18 '++ $%1 $#51<
A( $%1 ]ZZH8K 4( !"# F%)# 9"5< <*)" I%0*( F#))#1>%'K $%1 =451B#'(
P1337 )1#(21+B B#8=*881B $%#8 =4554( %*5'( D+#E%$:
A 8'" '( 'B< A +4,1 $%#8 =4(=1D$ 42K UR4 D'751($8 *($#+ P*(1<V
914D+1 '31 +#@1K Uk% P*(1K #$ "#++ (1,13 01 P*(1<V
X%17 0*7 $%#(E8 '(B 8'7 $4 $%1581+,18K UX%1 E*7 #( P*(1K %1e++
%',1 54(17 8451%4"<V
/(B A B4 $%'$ "#$% 5781+2<
M#@1 +'$1 '$ (#E%$K A $%#(@K Ua1++K #$e8 (#E%$K Ae5 %',#(E ' E44B $#51K
A B4(e$ "'($ $4 E4 $4 8+11D<
Ae5 R#E%$ O*7<
O1$$#(E *D '2$13 2#,1 %4*38e 8+11Dn
X%'$e8 N43(#(E O*7e8 D340+15< M1$ %#5 "4337 '04*$ $%'$< Ae5
R#E%$ O*7K Ae,1 E4$ $4 D'3$7<V
X%1( 74* E1$ *D '2$13 2#,1 %4*38 42 8+11DK 74*e31 =3'(@7K 74*e31
1d%'*8$1B<
R#E%$ O*7 '+"'78 8=31"8 N43(#(E O*7<
X%131e8 (4$%#(E N43(#(E O*7 ='( B4 $4 E1$ 0'=@ '$ R#E%$ O*7<
X%1 4(+7 $%#(E N43(#(E O*7 =4*+B B4 #8 $37 $4 4,138+11D 84 5'(7
$#518 $%'$ &'7 O*7 +4818 %#8 J40 '(B $%1( R#E%$ O*7 B418(e$ %',1 '(7
5431 54(17 $4 E4 4*$<
M1$$135'( +'*E%1B '(B 31D+#1BK Uc4* %',1 B4(1 '( 1d=1++1($ J40 42
=378$'++#f#(E $%1 B#=%4$457 42 54B13( /513#='( +#21<V`G
I1='*81 "1e31 B#8=4((1=$1B 2345 4*3 b*$*31 )1+,18K "1 4D$ 243 (1'3
#551B#'$1 E4'+8 43 B4D'5#(1 %#$8< X%#8 8%43$Y$135 811@#(E 1(B8 *D
=48$#(E 4*3 b*$*31 )1+,18 0#E<`o /8 6'3,'3B D87=%4+4E#8$ '(B b*$*31 )1+2
3181'3=%13K &3< &'(#1+ O#+013$K '8@1BK Ua%7 B4 "1 5'@1 B1=#8#4(8 4*3
b*$*31 )1+,18 "#++ 31E31$nV`^
X%#8 03#(E8 *D ' =4*($13#($*#$#,1 0*$ #5D43$'($ $3*$%T$%1 5431
=4((1=$1B 74* '31 $4 74*3 b*$*31 )1+2K $%1 01$$13 74* +#,1 #( $%1 D3181($<
A$ #8 (4$ $%1 D'8$K 0*$ $%1 2*$*31K $%'$ B3#,18 ' D1384(e8 '=$#4(8 '(B
01%',#438<
/++ E4'+8 ='( 01 D+'=1B #( $"4 ='$1E43#18: 'DD34'=% 43 ',4#B'(=1<
C4((1=$1B $4 74*3 b*$*31 )1+2K 74* ='( 'DD31=#'$1K 1503'=1K '(B +4,1
$%1 D3181($<
C4((1=$#4( $4 74*3 b*$*31 )1+2 =31'$18 D*3D481 '(B 51'(#(E #( $%1
D3181($<
X%1 5431 =4((1=$1B 74* '31 $4 74*3 +4(E13Y$135 b*$*31 )1+2K $%1
01$$13 '(B "#813 74*3 B1=#8#4(8 $4B'7<
I1#(E =4((1=$1B $4 74*3 b*$*31 )1+2 5'@18 74* %'DD7K D34B*=$#,1K '(B
8*==1882*+<
X%'$e8 $%1 =3'f7 D'3$< C4((1=$#4( $4 74*3 b*$*31 )1+2 1+1,'$18 74*3
D3181($ 81+2 '(B =#3=*58$'(=18< c4* $3*+7 D3#f1 $%1 #(,'+*'0+1 E4+B5#(1
$%'$ #8 74*3 +#21 3#E%$ (4"< c4*3 =4((1=$#4( $4 74*3 2*$*31 #8 %4" 74* +#,1
D4"132*++7 (4"<
M#,1 '8 #2 74* "131 +#,#(E '+31'B7 243 $%1 81=4(B $#51 '(B '8 #2 74*
%'B '=$1B $%1 2#38$ $#51 '8 "34(E+7 '8 74* '31 '04*$ $4 '=$ (4"q
A$ 81158 $4 51 $%'$ $%131 #8 (4$%#(E "%#=% "4*+B 8$#5*+'$1 ' 5'(e8
81(81 42 318D4(8#0+1(188 5431 $%'( $%#8 5'd#5K "%#=% #(,#$18 %#5 $4
#5'E#(1 2#38$ $%'$ $%1 D3181($ #8 D'8$ '(BK 81=4(BK $%'$ $%1 D'8$ 5'7
71$ 01 =%'(E1B '(B '51(B1B<``
9%4101 '(B A "1($ #(B4438 "%131 57 4+B13 @#B8 '3E*1B "#$% 1'=% 4$%13
'8 1(13E1$#= '(B (435'+ @#B8 B4< A( $%1 @#$=%1(K M'*31( 0*8#+7 5'B1 B#((13
"%#+1 %1+D#(E 0'07 j1d '(B r43'%<
k( ' 31E*+'3 B'7K A 5#E%$ #551B#'$1+7 =%#B1 43 =4331=$ 57 4+B13 @#B8< A
5#E%$ f4(1 4*$<
I*$ 4( $%#8 B'7K "#$% 57 b*$*31 )1+2 #( 5#(BK 57 2'5#+7 21+$ 2'3 5431
#5D43$'($ $%'( A (435'++7 811 $%15< j'$%13 $%'( 01#(E 23*8$3'$1B 07 $%1
=+*$$13K A ?50#( $%1 $478 8='$$131B '04*$ $%1 %4*81<
A +4,1B $%1 %4518=%44+ 044@8 '(B '88#E(51($8 8$31"( '=3488 $%1
@#$=%1( $'0+1<
A +4,1B 811#(E 57 @#B8 D+'7#(E "#$% 1'=% 4$%13<
N7 "#21K M'*31(T%13 01'*$7 $44@ 57 031'$%< ,5< )"# "#/A (*( D -#)
)"*2 %>%Z*'- ?*8#]
j'$%13 $%'( 211+#(E '((471BK A 21+$ '8$4(#8%1B 07 %4" 5*=% A +4,1B $%1
0'($13 42 57 ]HY $4 ]^Y71'3Y4+B @#B8< X4 57 b*$*31 )1+2K $%181 $%311 '31 #(
$%1#3 oH8< a%'$ "4*+B 57 b*$*31 )1+2 8'7 #2 $%17 =4*+B =451 0'=@ '(B J*8$
%',1 2#,1 5#(*$18n j'$%13 $%'( 8D1'@#(EK Ae5 =4(2#B1($ 57 b*$*31 )1+2
"4*+B "'($ (4$%#(E 5431 $%'( $4 +#8$1( $4K +1'3( 2345K '(B '22#35 $%181
#(=31B#0+1 @#B8<
A D*++1B $%1 D34,130#'+ =4$$4( 0'++8 4*$ 42 57 1'38 '(B D*$ $%15 #( 57
54*$%<
A +#8$1(1B<
A 1(E'E1B<
A +'*E%1B<
A +4,1B<
A =4((1=$1B<
X%1 81#85#= 8%#2$ "#$%#( 21+$ 1+1,'$1BK 1,4+,1BK '(B D3424*(B< X%#(E8
$%'$ (435'++7 23*8$3'$1B 51 81151B =45D+1$1+7 $3#,#'+< X4$'++7 #( 2+4"K A
+4,1B $%1 $%#(E8 $%'$ 42$1( '((471B 51< R4$ 4(+7 B#B A 211+ D3181($ '(B
1(E'E1BK 0*$ A '=$1B "#$% E31'$13 @#(B(188K D138D1=$#,1K '(B "#8B45< N7
b*$*31 )1+2 "4*+B %'(B+1 $%#8 8#$*'$#4( B#22131($+7 '(B 01$$13 $%'( =*331($
51<
X'DD#(E #($4 57 b*$*31 )1+2K '(B +#,#(E '8 57 b*$*31 )1+2 =%'(E1B
1,137$%#(E<
Q,1( B11D13K A 31'+#f1B '(B 2*++7 'DD31=#'$1B $%'$ 57 b*$*31 )1+2 5#E%$
(4$ 01 %131 #( GH 71'38<
A =4*+B 01 E4(1< j1=1($+7K ' 23#1(Be8 GY71'3Y4+B B#1B #( ' 231'@ '(B
%433#0+7 $3'E#= '==#B1($ 01='*81 %1 '==#B1($+7 E4$ $%1 =43B $4 $%1 "#(B4"
0+#(B8 "3'DD1B '34*(B %#8 (1=@< V#>#')5 V51* #8 '( '(=#1($ )$4#= $135
243 @11D#(E B1'$% '+"'78 4( 74*3 5#(B $4 2*++7 ,'+*1 '(B 'DD31=#'$1 $%#8
5451($<
)'B+7K A 42$1( 5#88 $%1 #(=31B#0+1 5451($8 '++ '34*(B 51< a#$%4*$ '
81(81 42 D*3D481 '(B 5#88#4(K A 2'#+ $4 'DD31=#'$1 "%'$e8 3#E%$ #( 234($ 42
51< A 2'#+ $4 ,'+*1 $%1 #(2#(#$1 "43$% 42 57 =*331($ +#21K 8#5D+7 01='*81
Ae5 B#8=4((1=$1B< m#@$43 b3'(@+ 8*EE18$8 "1 #5'E#(1 $%#8 5451($ %'8
D'881BK 243=1B $4 B1'+ "#$% $%1 (1E'$#,1 =4(81W*1(=18 42 (4$ 01#(E 5431
=4(8=#4*8 42 "%'$ "1 "131 B4#(E<
X%#8 #8 "%7 $%1 3181'3=% 4( b*$*31 )1+2 #8 84 =45D1++#(E< I1#(E
=4((1=$1B '++4"8 74* $4 01$$13 =45D31%1(B '(B 'DD31=#'$1 $%1 E4+B5#(1 42
)"*2 5451($K 3#E%$ %131< )11#(E 74*3 =*331($ +#21 $%34*E% $%1 1718 42 74*3
b*$*31 )1+2K 74* 811 4DD43$*(#$#18 74* "131 D31,#4*8+7 0+#(B $4< A2 74* 8$'7
=4((1=$1B "#$% 74*3 b*$*31 )1+2K 74*e++ 0%?4# 74*3 D3181($<
a%'$ '04*$ 74*n A2 74*3 b*$*31 )1+2TGH 71'38 2345 (4"T%'B '
=4(,138'$#4( "#$% 74*K "%'$ "4*+B $%17 8'7n
64" "4*+B 74*3 b*$*31 )1+2 ,#1" 74*3 =*331($ 8#$*'$#4(n
64" B#22131($+7 "4*+B 74* '=$ "#$% 74*3 b*$*31 )1+2 #( 5#(Bn
A( $%1 D'E18 $%'$ 24++4"K 74*e31 E4#(E $4 +1'3( %4" $4 01 74*3 b*$*31
)1+2 (4"< /8 74*3 b*$*31 )1+2 (4"K 74* ='( =31'$1 $%1 +#21 74* "'($<
N3I1'8$e8 1(4354*8 8*==188 ='51 '8 $%1 318*+$ 42 %#8 =455#$51($
$4"'3B %#8 B18#31B b*$*31 )1+2< 6#8 =4*3'E1 +1B $4 =4(8#8$1($K B1+#013'$1
D3'=$#=1K "%#=% #8 $%1 878$15'$#= "'7 $4 B1,1+4D 1dD13$#81 #(
'(7$%#(E<`_K`[ X4 B4 B1+#013'$1 D3'=$#=1 31W*#318 01#(E B1+#013'$1 $4"'3B '
8D1=#2#= E4'+< M#@1 N3I1'8$K %',1 ' =+1'3 ,#1" 42 74*3 b*$*31 )1+2<`\
/*$%43 '(B D%#+484D%13K &3< )$1D%1( j< C4,17K 8'#BK UN1($'+ =31'$#4(
'+"'78 D31=1B18 D%78#='+ =31'$#4(<V`Z /(74(1 "%4 %'8 =31'$1B 8451$%#(E
8*08$'($#'+ B#B 84 07 811#(E #$ #( $%1#3 5#(B 2#38$K $%1( "43@#(E $4"'3B $%1
#5'E1< /8 $%17 $44@ 8$1D8 243"'3BK $%1#3 ,#8#4( =+'3#2#1BK 1dD'(B1BK '(B
1,4+,1B<
Q,1( $%1 I#0+1 B18=3#018K Ub'#$% #8 $%1 8*08$'(=1 42 $%#(E8 %4D1B 243K $%1
1,#B1(=1 42 $%#(E8 (4$ 811(<V_H a%41,13 74*e31 01#(EK 3#E%$ (4" *2 )"#
#0*(#'/# 42 74*3 b*$*31 )1+2< c4*3 +1,1+ 42 2'#$% #( '(B =455#$51($
$4"'3B 74*3 b*$*31 )1+2 #8 1,#B1(=1B 07 1,137$%#(E 74* B4K '(B 1,137
$%4*E%$ 74* $%#(@<
k(=1 74* '31 =+1'3 '(B =455#$$1BK 1,137$%#(E "#++ 2#+$13 $%34*E% 74*3
E4'+T"%'$ D87=%4+4E#8$8 ='++ 2#?#/)*0# %))#')*5'<_]
c4* 811 "%'$ 74*e31 +44@#(E 243<
c4* 811 "%'$ 74* ='31 '04*$<
a%'$ 74* 24=*8 4( 1dD'(B8<
X%1 2'$%13 42 /513#='( D87=%4+4E7K a#++#'5 P'518K D*$ #$ $%#8 "'7:
R4$ 4(+7 B4 74* 811 "%'$ 74*e31 +44@#(E 243K 0*$ 74* '=$ $4"'3B "%'$
74* 548$ "'($ '(B %',1 B1=#B1B "#++ 01 74*38<
b'#$% #8 ' D3#(=#D+1 42 '=$#4( '(B D4"13<
I7 2'#$%K 74* ='( 54,1 54*($'#(8K D*$ ' 5'( 4( $%1 544(K 5'@1
5#++#4(8K '(B %1'+ #5D488#0+1 5'+'B#18< X4 1d13=#81 $%#8 +1,1+ 42 2'#$%K
2'8%#4( ' ,#8#4( 42 "%'$ 74* "'($< A( $%1 "43B8 42 /513#='( '*$%43
b+431(=1 )%#((K U@(4" 74*e,1 '+31'B7 31=1#,1B '(B '=$ '==43B#(E<V_o
a%1( 74* =455#$ ]HH D13=1($ $4 "%'$ 74* "'($ '(B @(4" $%1 1(B
318*+$ #8 '+31'B7 74*38K $%131 "#++ 01 ' E34"#(E 04B7 42 1,#B1(=1 '04*$ $%1
2*$*31 74*e31 =31'$#(E< c4*e++ 8$4D '884=#'$#(E D'#( "#$% $%1 "43@ '(B
=%'(E18 31W*#31B 243 74*3 E4'+8< A(8$1'BK 74*e++ '884=#'$1 D'#( "#$% (4$
5'@#(E D34E3188 $4"'3B 74*3 B31'58< c4*e++ '884=#'$1 D'#( "#$% $%1 8%43$Y
$135 B4D'5#(1 %#$8 $%'$ "131 4(=1 74*3 18='D1<
c4*e++ 01 2'3 5431 =4*3'E14*8<
c4*e++ B1,1+4D 51($438%#D8 '(B =4++'043'$#4(8 "#$% +#@1Y5#(B1B D14D+1<
c4*3 5#(B81$K 01+#128K '(B 51($'+ 54B1+8 "#++ =%'(E1 '(B 74*e++ 811 $%1
"43+B 2'3 B#22131($+7 $%'( 74*3 243513 81+2<
c4*3 318*+$8 "#++ #5D34,1< /8 +1'B138%#D 1dD13$8 P#5 &1$%513K &#'('
C%'D5'(K '(B ?'+17 ?+15D 8$'$1:
Q,1( '$ ' 74*(E 'E1K m#@$43 b3'(@+ "'8 #($1(81+7 =*3#4*8< &3'"( $4
%1+D#(E D14D+1K %1 "'($1B $4 01 ' D87=%#'$3#8$ 012431 'E1 $1(<
X%1 5#BB+1 =%#+B 42 $%311 =%#+B31(K m#@$43 "'8 043( #( m#1(('K /*8$3#'K
4( N'3=% G_K ]ZH`K $4 B11D+7 B1,4*$ D'31($8< 6#8 54$%13K Q+8' b3'(@+K "'8
' $1(B13%1'3$1B "45'( 2345 93'E*1 @(4"( 243 %13 D#1$7< 6#8 2'$%13K
O'03#1+ b3'(@+K "43@1B %#8 "'7 2345 ' +4"+7 E4,13(51($ 8$1(4E3'D%13 $4
01=451 B#31=$43 42 $%1 N#(#8$37 42 )4=#'+ )13,#=1<
A( %#E% 8=%44+K b3'(@+ 8$*B#1B D87=%4+4E7 '(B 01E'( =43318D4(B1(=1
"#$% )#E5*(B b31*BK 4(1 42 $%1 "43+Be8 548$ #(2+*1($#'+ D87=%4+4E#8$8<
b3'(@+ 81($ b31*B ' D'D13 %1 "34$1K "%#=% +1B $4 #$8 D*0+#='$#4( #( $%1
A($13('$#4('+ P4*3('+ 42 987=%4'('+78#8<
A( ]ZG`K ' 71'3 '2$13 E3'B*'$#(E =4++1E1K b3'(@+ D3121331B $%1 $%#(@#(E 42
/+231B /B+13K '(4$%13 #(2+*1($#'+ D87=%4+4E#8$K "%4 "43@1B "#$% b31*B
012431 $%1 $"4 D'3$1B "'78< /B+13e8 $%143#18 24=*81B 4( =455*(#$7 '(B
84=#'+ 312435K '(B '#51B '$ %1+D#(E $%1 #(B#,#B*'+ 4,13=451 $%1#3 4"(
#(213#43#$7 =45D+1d18 $4 31'=% ' 8$'E1 42 #($13('+ '(B 1d$13('+ 8*D13#43#$7<
&*3#(E $%'$ 8'51 71'3K b3'(@+ D*0+#8%1B '(4$%13 '3$#=+1 $%'$ 1dD+431B
$%1 234($#13 01$"11( D87=%4$%13'D7 '(B D%#+484D%7K 24=*8#(E 4( $%1
#5D43$'(=1 42 51'(#(E '(B ,'+*18< X%181 $4D#=8 01='51 $%1 =1($3'+
8*0J1=$ 42 %#8 +#21e8 "43@< a%#+1 b31*B '(B /B+13 15D%'8#f1B ' D1384(e8
&%2) '8 $%1 =1($3'+ '8D1=$ 42 $%1#3 B1,1+4D51($K b3'(@+ 24=*81B 4( '
D1384(e8 84)41# '8 $%1 =1($3'+ '8D1=$ 42 $%1#3 D87=%4+4E7< b3'(@+e8
B1,1+4D#(E $%1437K "%#=% %1 ='++1B ?5-5)"#1%&C 0'81B 4( $%1 O311@ "43B
?5-52 243 U51'(#(EKV 01+#1,1B ' D1384(e8 B1,1+4D51($ '(B W*'+#$7 42 $%1#3
51($'+ %1'+$%K 8$1551B 2345 %',#(E 51'(#(E8 $4 2*+2#++ #( $%1#3 4"(
2*$*31<
a%#+1 =45D+1$#(E %#8 B4=$43'$1 #( 51B#=#(1K #( ]ZG\ '(B ]ZGZK b3'(@+
43E'(#f1B =48$Y2311 =4*(81+#(E =1($138 243 $11('E138 #( 81,1( =#$#18K "%#=%
318*+$1B #( ' 8#E(#2#='($ B34D #( $%1 (*5013 42 8$*B1($ 8*#=#B18< b3'(@+
E'#(1B #($13('$#4('+ '$$1($#4( '(B 31=1#,1B #(,#$'$#4(8 $4 J4#( #(2+*1($#'+
D87=%4+4E#8$8 '(B *(#,138#$#18 $%34*E%4*$ Q*34D1<
b4++4"#(E E3'B*'$#4( 2345 51B#='+ 8=%44+ #( ]Zo]K b3'(@+ 813,1B '8
+1'B B4=$43 #( =%'3E1 42 $%1 "'3B 243 8*#=#B'+ "451( '$ $%1 987=%#'$3#=
648D#$'+ '$ $%1 N'3#' X%1318#1( )=%+4188+ R1*34+4E#='+ 648D#$'+ #(
m#1(('< A( ]Zo[K '$ 'E1 oGK b3'(@+ 4D1(1B %#8 4"( =+#(#=< N4($%8 +'$13
O135'(7 #(,'B1B /*8$3#' '(B b3'(@+ 3'( %#8 D87=%#'$3#= D3'=$#=1 2345 %#8
D'31($e8 %451 $4 ',4#B 01#(E ='*E%$ 07 $%1 R'f#8<
a%#+1 $%1 B#31=$43 42 $%1 R1*34+4E#='+ &1D'3$51($ '$ $%1 j4$%8=%#+B
648D#$'+ 243 P1"#8% D'$#1($8K %1 01E'( "43@ 4( %#8 2#38$ 044@K !"# I5/)51
%'( )"# 954?< A( $%#8 "43@K %1 +'#B 4*$ %#8 31,4+*$#4('37 2#(B#(E8 4( $%1
1881($#'+ (11B 243 D14D+1 $4 %',1 ' 2*$*31 D*3D481 $4 01 %'DD7 '(B
%1'+$%7<G
A( ]Z^GK b3'(@+ 5'33#1B X#++7 O348813K ' (*381 %1eB 51$ "%#+1 "43@#(E
'$ j4$%8=%#+B 648D#$'+< 61 "34$1 %#8 044@ $%34*E%4*$ $%'$ 71'3 '(B X#++7
01='51 D31E('($< N4($%8 '2$13 01#(E 5'33#1BK b3'(@+ '(B X#++7K '8 "1++ '8
%#8 D'31($8K "131 '3318$1B '(B 034*E%$ $4 $%1 =4(=1($3'$#4( ='5D '$
X%1318#1(8$'B$ UX131f#( C'5DV #( D3181($YB'7 Cf1=% j1D*0+#=< )#d
54($%8 +'$13K %#8 2'$%13 B#1B 42 8$'3,'$#4( '(B 1d%'*8$#4(<
a%#+1 #( $%#8 %433#2#= =4(=1($3'$#4( ='5DK b3'(@+ 24=*81B 4( $%1
D87=%4+4E#='+ =3#818 D3188#(E *D4( 21++4" D3#84(138 '(B %#581+2< A( %#8
12243$8 $4 =450'$ $%1 B'(E13 42 8*#=#B1K b3'(@+ "43@1B '+4(E8#B1 21++4"
#(5'$1 j1E#(' P4('8K $%1 "43+Be8 2#38$ 215'+1 3'00#K $4 %1+D 4$%138 2#(B
51'(#(E #( $%1#3 8*2213#(E<
A( ]Z^^K b3'(@+ '(B X#++7K '(B 8%43$+7 $%131'2$13K b3'(@+e8 _`Y71'3Y4+B
54$%13K "131 $3'(8D43$1B $4 $%1 1d$135#('$#4( ='5D /*8=%"#$fYI#3@1('*<
6#8 54$%13 "'8 #551B#'$1+7 5*3B131B #( $%1 E'8 =%'5013 '(B X#++7 "'8
54,1B $4 ' B#22131($ ='5D #( I13E1(YI1+81(< &1,'8$'$1B '$ 01#(E
81D'3'$1B 2345 X#++7K b3'(@+ "'8 $3'(8D43$1B 07 ='$$+1 ='3 $4 $%1 +'043
='5D8 42 ?'*213#(E '(B Xs3@%1#5<
a%#+1 '$ /*8=%"#$fK b3'(@+e8 5'(*8=3#D$ 42 !"# I5/)51 %'( )"# 954?
"'8 B#8=4,131B '(B B18$3471B< /8#B1 2345 %#8 2'5#+7K $%#8 5'(*8=3#D$ "'8
%#8 548$ D3#f1B D488188#4( '(B $%1 4(+7 D%78#='+ #$15 %1 %'B 034*E%$ "#$%
%#5 #( $%1 #(#$#'+ =%'48 42 %#8 '3318$< b3'(@+ %'B @1D$ $%1 5'(*8=3#D$
%#BB1( #( %#8 =+4$%18 '(B D34$1=$1B "#$% %#8 +#21< a#$%#( $%481 D'E18 "131
$%1 D138D1=$#,18 %1 *81B $4 E#,1 %4D1 '(B 51'(#(E $4 4$%138 #( $%1#3
8*2213#(E8<
6#8 *$$13 3184+,1 $4 31"3#$1 '(B D*0+#8% $%'$ 044@K '8 "1++ '8 01 31*(#$1B
"#$% %#8 "#21 '(B 2'5#+7 5150138K @1D$ b3'(@+ 2345 =45D+1$1+7 +48#(E
%4D1< 61 1dD+'#(1B:
a%#+1 #( $%1 ='5D8K b3'(@+ =4*+B D31B#=$ "#$% 1d$3151 '==*3'=7 "%1( '
21++4" #(5'$1 "4*+B B#1<
k(=1 D*3D481 "'8 1d$#(E*#8%1B #( ' 21++4" D3#84(13K b3'(@+ "'$=%1B '8
$%1 E+4" 42 +#21 +12$ $%1#3 1718< R4 +4(E13 "#++#(E $4 8%'31 $%1#3 85'++ D#1=1
42 B'#+7 031'BK $%17 B#8=4((1=$1B 2345 4$%138K #5D*+8#,1+7 811@#(E 8%43$Y
$135 B4D'5#(1 $4 (*50 $%1581+,18 2345 $%1 D'#( 42 $%1 5451($< X%1 +488
42 D*3D481 +1B $4 $%1 B1'$% 42 $%1 04B7<
a#$%4*$ 51'(#(E #( $%1#3 8*2213#(E 43 %4D1 $4 54,1 243"'3BK %'DD#(188
"'8 #5D488#0+1< A( $%1 '081(=1 42 D*3D481K $%1 D3181($ 1dD13#1(=1 01='51
' D3#84( $4 01 18='D1B 1#$%13 07 $%4*E%$8 42 $%1 D'8$K 8*#=#B1K 43 '(4$%13
2435 42 B1$13#43'$#4(<
a#$%4*$ ' <"C $4 +#,1 243K 1,137 4*(=1 42 315'#(#(E +#21 "'8 *81B $4
18='D1 $%1 D'#( 42 $%1 5451($ *($#+ $%17 E'8D1B 243 B1'$% +#@1 ' B34"(#(E
D1384( E'8D8 243 '#3<
A( V%'32 9#%1/" 851 V#%'*'-6 b3'(@+ "34$1:
b43 b3'(@+K %4D1 '(B D*3D481 $4"'3B 74*3 2*$*31 #8 $%1 1881($#'+
24*(B'$#4( $4 ' 51'(#(E2*+ '(B 2*(=$#4('+ +#21< a#$%4*$ %4D1K D14D+1e8
D87=%4+4E7 *(3',1+8 '(B B#8$43$8< A(B#,#B*'+#8$#= '(B 84=#'++7 B#8$'($K
$%481 "#$%4*$ ' 2*$*31 8$4D 2#(B#(E "'78 $4 5'@1 +#21 01$$13< X%17 01=451
D*31 ,#=$#58 42 1d$13('+ =#3=*58$'(=18 "#$% (4 'E1(=7 4,13 $%1#3 +#,18<
/8 $%1 934,130 8$'$18K Ua%131 $%131 #8 (4 ,#8#4(K $%1 D14D+1 D13#8%<V[
X%#8 D13#8%#(E #8 '( #($13('+ B#8#($1E3'$#4( "%131 D1384('+#$7 '(B D%78#='+
%1'+$% '03*D$+7 31B*=1 $4 (4$%#(E< b43 b3'(@+K %',#(E ' D*3D481 "'8(e$
8451 ,'E*1 %4D1 43 4D$#5#85K O4) % )%'-*O?# %'( 2&#/*8*/ -5%?< A( 2'=$K %1
*81B $%1 "43B -5%? 548$ 42$1( $4 B18=3#01 %',#(E ' U51'(#(E $4 2*+2#++V #(
74*3 2*$*31< 6#8 B18=3#D$#4( 42 %',#(E ' D*3D481K 51'(#(EK 43 E4'+ $4
'==45D+#8% 8W*'318 1d'=$+7 "#$% 54B13( 3181'3=% 4( $%1 8*0J1=$ 42 %4D1<
X4 $%1 ',13'E1 D1384(K %4D1 5'7 8115 +#@1 5131 "#8%#(E< I*$ $%#(@ 243
' 5#(*$1 "%'$ 74*3 +#21 "4*+B 01 +#@1 "#$%4*$ %4D1 #( $%1 2*$*31< a#$%4*$
8451$%#(E 8D1=#2#= $4 +44@ '(B 0*#+B $4"'3BK $%1 D3181($ 01=4518 *$$13+7
D'#(2*+< A( $%#8 231(1$#= (#E%$5'31K 74* 211+ $%131 #8 (4 =4($34+ 43 18='D1
2345 ' B4"("'3B 8D#3'+< a#$%4*$ %4D1K 54$#,'$#4( #8 #5D488#0+1< c4*
='(e$ 01 54$#,'$1B $4"'3B '=$#4( 43 4*$=451 "#$% f134 %4D1 #( #$8
D488#0#+#$7<
a#$%4*$ %4D1K E3#$ #8 #5D488#0+1< /==43B#(E $4 &3< /(E1+' &*=@"43$%K
E3#$ #8 D'88#4( '(B D1381,13'(=1 $4"'3B +4(EY$135 E4'+8< b345 %13
8$'(BD4#($K %4D1 #8 $%1 D4"13D'=@ $%'$ 8*8$'#(8 74* $%34*E% $%1 *D8 '(B
B4"(8 42 "%'$1,13 74*e31 D*38*#(E<\
j181'3=%138 B18=3#01 %4D1 '8 $%1 "#++ '(B $%1 "'7<Z 64D1 #8 $%1 "#++
01='*81 =4(8=#4*8 =%448#(E #8 #(,4+,1B< c4* B1=#B1 ' 8D1=#2#= 1(BK "%#=%
74* 211+ #8 "43$%"%#+1 '(B #5D43$'($ $4 =31'$1K D*38*1K 43 31'+#f1< c4*
01+#1,1 74* %',1 'E1(=7K '(B $%'$ 74*3 B1=#8#4(8 5'$$13K '(B $%'$ 74* ='(
#(2+*1(=1 $%1 4*$=4518 42 74*3 +#21<
64D1 #8 $%1 "'7 01='*81 $4 %',1 %4D1K 74* 1#$%13 811 ' "'7 $4 31'+#f1
74*3 E4'+K 43 '31 2+1d#0+1 1(4*E% $4 =31'$1 ' "'7< a%1( %4D1 1d#8$8K $%131
#8 '+"'78 ' "'7< 64D1 B418 (4$ =4(8#B13 $%1 4BB8<
64D1 #8:
64D1 #8 5431 D4"132*+ $%'( 4D$#5#85K "%#=% #8 ' E1(13'+ 81(81 $%'$ $%1
2*$*31 "#++ 01 01$$13<]]K]GK]o 6',#(E ' E+#5513 42 %4D1 #8 '@#( $4 %',#(E '
B1D48#$ '+31'B7 0'(@1B '(B 1'3(#(E #($1318$ 4( 74*3 2*$*31 D*3D481<
I*$ $%131 #8 ' 5*=% %#E%13 0'3 42 %4D1< X%#8 B1E311 31W*#318
=455#$51($< A$ 31W*#318 'E1(=7< A$ 31W*#318 '=$#4(<
M#@1 %4D1 4( 8$134#B8K $%#8 +1,1+ #8 $%1 "#++ %'( $%1 "'7<
987=%4+4E#8$8 %',1 24*(B B#8$#(=$ B#22131(=18 01$"11( %#E%Y%4D1 D14D+1
'(B +4"Y%4D1 D14D+1<]^K]` X%1 B#22131(=18 ='( 01 8*551B *D 07 ' W*4$1
2345 &3< C%'3+18 )(7B13K $%1 "43+Be8 +1'B#(E 1dD13$ '(B 3181'3=%13 4(
%4D1:
6#E%Y%4D138 =455#$ ]HH D13=1($ $4 ' 8D1=#2#= 318*+$< a%#+1 $%1#3 E4'+ #8
*("',13#(EK $%17 315'#( %#E%+7 2+1d#0+1 #( $%1 D34=188 43 D'$% $4 '=%#1,1
$%1#3 D*38*#$<
&3< /(E1+' &*=@"43$% B#8$#++1B '( 1dD+'('$#4( 42 %*5'( 5'$*3#$7<
/==43B#(E $4 %13 3181'3=%K D14D+1 E1$ E3#$$#13 '8 $%17 'E1< X4 01 E3#$$7K
74*e,1 E4$ $4 8$#=@ "#$% 8451$%#(E 243 ' +4(E $#51K 4,13=45#(E 81$0'=@8
'(B 408$'=+18 '+4(E $%1 "'7< )4514(1 "%4 8"#$=%18 2345 E4'+ $4 E4'+ $4
E4'+ ='((4$ E'#( $%'$ ,#$'+ E3#$< /( '$%+1$1 "%4 8"#$=%18 2345 4(1 8D43$ $4
$%1 4$%13 #8(e$ E3#$$7< O3#$ #8 8$#=@#(E $4 4(1 $%#(E 243 71'38 43 1,1(
B1='B18<
X%1 81=4(B '8D1=$ 42 E3#$ '(B 5'$*3#$7 #8 J*8$ '8 #5D43$'($< N'$*3#$7
=4518 07 =455#$$#(E $4 ' 8D1=#2#= +4(EY$135 E4'+K '(B 31E*+'3+7 8"#$=%#(E
4*$ 43 *DE3'B#(E D'$%"'78 43 878$158 $4 31'+#f1 $%1 4,13'3=%#(E E4'+<
X4 01 ' %#E%Y%4D1 D1384(K 74* =455#$ $4 $%1 E4'+K (4$ $%1 D34=188< c4*
B4(e$ E1$ 8$*=@ #( 74*3 =*331($ "'7 42 B4#(E '(B $%#(@#(E< 9'$#1($+7K
D138#8$1($+7 74* 'B'D$ '(B 2#(B (1" '(B 01$$13 "'78 $4 E1$ "%131 74* "'($
$4 E4<
/8 b3'(@+ @(1"K %4D1 #8 344$1B #( ' =+1'3 D*3D481 243 74*3 2*$*31< /
%#E%Y%4D1 D1384(K +#@1 b3'(@+ %#581+2K 315'#(8 =455#$$1B ]HH D13=1($ $4 '
D*38*#$K '(B ]HH D13=1($ 2+1d#0+1 '34*(B $%1 D'$% $4 '=%#1,1 $%1#3 E4'+<
A( $%1 '081(=1 42 ' =+1'3 D*3D481 243 74*3 +#21K 74*3 =3#$#='+ $%#(@#(E $4
2#(B "'78 B1$13#43'$18 #($4 2#(B#(E 1d=*818< /2$13 '++K "#$%4*$ %4D1K
(4$%#(E 31'++7 5'$$138 '(7"'7<
X%1 2#38$ '(B 548$ 2*(B'51($'+ $%31'$ $4 74*3 b*$*31 )1+2 #8 (4$ %',#(E
%4D1 #( 74*3 2*$*31<
a#$%4*$ %4D1K $%1 D3181($ +4818 51'(#(E<
a#$%4*$ %4D1K 74* B4(e$ %',1 =+1'3 E4'+8 43 ' 81(81 42 D*3D481 243 74*3
+#21<
a#$%4*$ %4D1K $%131 #8 (4 "'7<
a#$%4*$ %4D1K 74* B1='7<
$-(%5$ < >
a%1( A "'8 ]_ 71'38 4+BK 57 545K $"4 034$%138K '(B A $44@ ' $3#D $4
,#8#$ ' =+481 23#1(BK N#=%'1+ I'3@13K #( )*( m'++17K AB'%4< 6'+2"'7 $%34*E%
$%1 2#,1Y%4*3 1,1(#(E B3#,1K 57 545 E31" $#31B< /8 ' (1" B3#,13K A
1'E13+7 422131B $4 $'@1 $%1 "%11+< N7 545 +'7 #( $%1 0'=@81'$ '(B W*#=@+7
21++ '8+11D<
a#$%#( 5#(*$18K A 1(=4*($131B ' =4(8$3*=$#4( 8#$1 "#$% 2+'8%#(E +#E%$8
8#E('+#(E 51 #($4 $%1 +12$ +'(1< A( $%1 B'3@ 3'#(K 0'33#138 0+4=@1B
=4(8$3*=$#4( 4( $%1 3#E%$ 8#B1 42 $%1 34'BK '(B 4(=1 $%1 0'33#138 1(B1BK A
31$*3(1B $4 $%1 3#E%$ +'(1< )*BB1(+7K $%1 $#318 B34DD1B ' 244$ #($4 B#3$ '(B
3*00+1< /$ _H 5#+18 D13 %4*3K A #(8$#(=$#,1+7 7'(@1B $%1 "%11+ $4 E1$ 0'=@
#($4 $%1 +12$ +'(1< X%1 ='3 8D*( #($4 $%1 2311"'7 51B#'( '(B 2+#DD1B< N7
%1'B =3'8%1B 'E'#(8$ $%1 "#(B4" '(B A "'8 @(4=@1B *(=4(8=#4*8<
a%1( A "4@1K $%1 ='3 %'B +'(B1B 4( $%1 4DD48#$1 8#B1 42 $%1 2311"'7< A
%1'3B 57 034$%13K P'=40K =37#(E #( $%1 0'=@81'$<
UI1(KV X31,43 71++1BK UN45e8 (4$ #( $%1 ='3qV
a%1( $%1 ='3 2+#DD1BK N45 %'B 011( $%34"( '(B 3'EYB4++1B `H 211$
'=3488 $%1 D',151($< R4 =%#+B 8%4*+B 811 $%1#3 D'31($ #( 8*=% ' 03*$'+
8$'$1< A %'B (4 "43B8<
N13=#2*++7K D'3'51B#=8 '33#,1BK '(B "1 "131 $'@1( 07 '50*+'(=1 $4 $%1
(1'318$ %48D#$'+ "%#+1 N45 "'8 +#21Y2+#E%$1B $4 '( #($1(8#,1 *(#$< a1
B#B(e$ @(4" #2 8%1 "'8 '+#,1<
a%#+1 "1 "'#$1B 243 (1"8 #( $%1 %48D#$'+ $%'$ (#E%$K ' D4+#=1 422#=13
='51 #($4 4*3 3445< Ua%#=% 4(1 42 74* #8 I1(nV
/8 A 3481K A (4$#=1B ' D#+1 42 %'#3 4( $%1 D#++4" "%131 A %'B +'#(<
R4$#=#(E 57 8*3D3#81K $%1 422#=13 1dD+'#(1B 57 %'#3 "'8 2'++#(E 4*$
01='*81 A "'8 #( 8%4=@<
61 $44@ 51 '8#B1< UM44@K $%#8 1dD13#1(=1 =4*+B 3*#( 74*3 1($#31 +#21< A
B4(e$ @(4" "%'$ #8 E4#(E $4 %'DD1( "#$% 74*3 545< I*$ 3#E%$ (4"K 74*
(11B $4 5'@1 ' =%4#=1 '04*$ %4" 74*e31 E4#(E $4 %'(B+1 $%#8<V
61 $4+B 51 $%'$ $%1 D1384( 8*DD481B $4 "43@ $%1 (#E%$ 8%#2$ '(B =%1=@
$%1 =4(8$3*=$#4( f4(1 %'B 011( ' (4Y8%4"< N431 $%'( ]`H 7'3B8 42 $*50+1B
=4(8$3*=$#4( 0'33#138 8%4*+B %',1 011( D*$ 0'=@ #( D+'=1< UX%#8 "'8(e$
74*3 2'*+$< c4*e31 (4$ $4 0+'51<V
61 %1+D1B 51 $'@1 4"(138%#D 42 $%1 8#$*'$#4( 243 5781+2 '(B 57
74*(E13 034$%138 "%4 (11B1B 51<
/==43B#(E $4 31(4"(1B $3'*5' 1dD13$ &3< 91$13 M1,#(1K UX3'*5' #8 (4$
"%'$ %'DD1(8 $4 *8K 0*$ "%'$ "1 %4+B #(8#B1 #( $%1 '081(=1 42 '(
15D'$%1$#= "#$(188<V][
X%#8 D4+#=1 422#=13 "'8 57 15D'$%1$#= "#$(188< 61 %1+D1B 51 D34=188
$%1 8%4=@ '(B D'#(< 61 '++4"1B 51 $4 =37< 61 %1+D1B 51 01 D34'=$#,1 #(
%4" A 23'51B $%#8 1dD13#1(=1<
Q,1374(1 %'8 ' D+'( *($#+ +#21 D*(=%18 $%15 #( $%1 2'=1< a%'$1,13
D*(=%18 +#21 E#,18 $4 74*K 74*3 D'8$ #8 J*8$ ' 8$437< a%'$1,13 8$437 74*
=%4481 243 74*3 D'8$ 1(4354*8+7 #5D'=$8 74*3 D3181($ '(B 74*3 2*$*31<
a%1( 74* 23'51 $%1 D'8$ (1E'$#,1+7K 74*3 E4'+8 01=451 31'=$#,1 $4 '(B
0'81B 4( 74*3 D'8$< c4*3 E4'+8 01=451 8%43$ $135 '(B ',4#B'(=1Y43#1($1BK
"%131 74* $37 18='D#(E $%1 D'#( 42 $%1 D3181($<
a%1( 31'=$#,1K +#21 %'DD1(8 )5 74*K 3'$%13 $%'( 851 74*< a%1( 31'=$#,1K
74* 211+ $%1 ,#=$#5 $4 "%'$ +#21 %'8 B4(1 $4 74*<
Q54$#4('+ %1'+$% %'DD1(8 "%1( 74* =4($'#( 04$% ' D48#$#,1 D'8$ '(B '(
1d=#$#(E 2*$*31< 6',#(E ' D48#$#,1 D'8$ B1D1(B8 ,137 +#$$+1 4( "%'$ 1,1($8
'=$*'++7 4==*331B< a%'$ %'DD1(1B )5 74* B418(e$ 5'$$13 '8 5*=% '8 "%'$
8$437 74* B1=#B1 $4 $1++ 74*381+2 '04*$ "%'$ %'DD1(1B< a%'$ %'DD1(1B )5
74* B418(e$ 5'$$13 '8 5*=% '8 "%'$ 154$#4(8 74* 211+ '04*$ "%'$
%'DD1(1B<
c4*3 D'8$ #8 2*(B'51($'++7 ' >#%'*'-W X%1 8$437 74* =31'$1 '04*$ D'8$
1,1($8 B#=$'$18 "%'$ 74*3 D'8$ 51'(8 $4 74*3 D3181($ '(B $4 74*3 b*$*31
)1+2<
a1 E1$ $4 =%4481 "%'$ 8$437 "1 '$$'=%< O3#12 1dD13$ '(B D87=%#'$3#8$
O43B4( M#,#(E8$4(K N<&<K 8'#BK UX%1 8$43#18 42 4*3 +#,18K 2'3 2345 01#(E
2#d1B ('33'$#,18K '31 *(B13 =4(8$'($ 31,#8#4(<V]\
b345 ' D87=%4+4E#='+ 8$'(BD4#($K $#51 #8 5431 %4+#8$#= $%'( 81W*1($#'+<
a1 42$1( $%#(@ 42 $#51 '8 $%1 D'8$ $%'$ #8 01%#(B *8K $%1 D3181($ $%'$ "1e31
(4" +#,#(EK '(B $%1 2*$*31 $%'$ #8 '%1'B< I*$ D87=%4+4E#='++7K $%1 D'8$K
D3181($K '(B 2*$*31 1d#8$ $4E1$%13 %131 '(B (4"< UX%1 D'8$KV 8'#B /513#='(
(4,1+#8$ a#++#'5 b'*+@(13K U#8 (1,13 B1'B< A$e8 (4$ 1,1( D'8$<V]Z
&18D#$1 $%1 2'=$ $%'$ 4*3 D'8$ ('33'$#,1 +'3E1+7 #5D'=$8 4*3 2*$*31 E4'+8
'(B %4D18K 4*3 D3181($ 8$'$1 #8 +'3E1+7 "%'$ B1$135#(18 $%481 =3#$#='+ D'8$
('33'$#,18< /8 "1 'E1 '(B 5'$*31K "1 ('$*3'++7 31=4(8$3*=$ 51543#18 "#$%
B#22131($ D138D1=$#,18< a1 ='( =%4481 $4 #($1($#4('++7 3123'51 ' 515437
#( ' D48#$#,1 544BK 8'21 1(,#34(51($K '(B '34*(B $3*8$1B D14D+1<
/8 D87=%4+4E#8$ I31($ )+#21 8$'$18 #( !*># %'( B2C/"5?5-*/%?
TL&?%'%)*5' !#$'+#=8 5#(1-:
A( ' 2'54*8 8$*B7K ' E34*D 42 3181'3=%138 $4+B G(B '(B o3B E3'B1
$1'=%138 $%17 "'($1B $4 8$*B7 $%1 +1'3(#(E 42 $%1#3 8$*B1($8 4,13 $%1 =4*381
42 $%1 8=%44+ 71'3< /$ $%1 01E#((#(E 42 $%1 71'3K $%1 $1'=%138 "131 D3#,'$1+7
$4+B "%#=% 8$*B1($8 "131 E#2$1B '(B "%#=% 4(18 "131(e$ 0'81B 4( Aw $18$8
$%1 3181'3=%138 %'B E#,1( $%15<Go
/8 1dD1=$1BK 07 $%1 1(B 42 $%1 8=%44+ 71'3K $%1 E#2$1B 8$*B1($8 8%4"1B
1d$3151+7 %#E%13 #(=31'818 #( +1'3(#(E '(B 4,13'++ B1,1+4D51($ $%'( $%1
(4(YE#2$1B 8$*B1($8<
64"1,13K $%1 3181'3=%138 %'B(e$ E#,1( $%1 8$*B1($8 Aw $18$8 '$ $%1
01E#((#(E 42 $%1 71'3< A(8$1'BK $%17 3'(B45#f1B "%#=% 8$*B1($8 "131
=4(8#B131B E#2$1B '(B "%#=% 4(18 "131(e$ 8#5D+7 $4 811 #2 #$ "4*+B
#(2+*1(=1 $%1#3 318*+$8<
;(=4(8=#4*8+7K $%1 $1'=%138 $31'$1B $%1 E#2$1B 8$*B1($8 B#22131($+7 $%'(
$%1 (4(YE#2$1B 8$*B1($8< X%17 1dD1=$1B 5431 42 $%481 8$*B1($8K '(B $%481
1dD1=$'$#4(8 01='51 ' 81+2Y2*+2#++#(E D34D%1=7<G^
a1 B4(e$ +#@1 $4 'B5#$ $%#8K 0*$ 4*3 D132435'(=1 '(B 318*+$8 '31 42$1(
0'81B 4( $%1 1dD1=$'$#4(8 42 $%481 '34*(B *8< 987=%4+4E#8$8 ='++ $%#8 )"#
BC->%?*5' #88#/)<G` A2 74*e31 '34*(B D14D+1 "%4 %',1 +4" 1dD1=$'$#4(8 243
74*K 74*e++ 2'++ $4 $%481 8$'(B'3B8< A2 74*e31 '34*(B D14D+1 "#$% %#E%
1dD1=$'$#4(8K 74*e++ 3#81 $4 $%481 8$'(B'3B8<
a1 '31 '++ B3#,1( 07 4*3 E4'+8< I*$ %4" 42$1( '31 E4'+8 *(=4(8=#4*8+7
21B $4 *8 07 4*3 1(,#34(51($n A8 #$ '(7 "4(B13 $%'$ 57 034$%13Y#(Y+'"K
"#$% 81,1( B1($#8$8 4( %#8 54$%13e8 8#B1K 01='51 ' B1($#8$n C'( "1 2'*+$
$%1 "45'( 8*334*(B1B 07 B3*E8 '8 ' =%#+BK "%4 $*3(8 $4 B3*E8 243 318D#$1
2345 %13 D'#(n
X%1 5431 5'$*31 74* 01=451K $%1 5431 D34'=$#,1 '(B =4(8=#4*8 '31 $%1
E4'+8 74* =%4481 243 74*381+2< X%1 +188 5'$*31 74* 315'#(K $%1 5431
31'=$#,1 '(B *(=4(8=#4*8 '31 $%1 E4'+8 74* D*38*1<
X%31'$ vo #8 01#(E *('"'31 42 $%1 #5D'=$ 42 74*3 1(,#34(51($ 4( 74*3
E4'+8<
/8 $%1 a%'3$4( 5'3@1$#(E D34218843 &3< P4('% I13E13 1dD+'#(8 #( %#8
044@ D'0*2*O?# D'8?4#'/#K UP*8$ +#@1 '$458 04*(=#(E 422 1'=% 4$%13K 4*3
84=#'+ #($13'=$#4(8 '31 =4(8$'($+7 8%'D#(E "%4 "1 '31 '(B "%'$ "1 B4<VG_
A($1318$#(E+7K D87=%4+4E#8$8 24*(B $%'$ D14D+1 D31213 $%#(E8K (4$ 01='*81
42 #($13('+ 31'84(8K 0*$ 8#5D+7 01='*81 $%17e,1 011( 31D1'$1B+7 1dD481B $4
$%15< X%#8 #B1' #8 @(4"( '8 $%1 >#1#E#L&5241# #88#/)<G[KG\KGZ c4*3 B18#318
'31 42$1( $%1 318*+$ 42 8#5D+7 01#(E 1dD481B $4 8451$%#(E< b43 #(8$'(=1K
3181'3=% 8%4"8 $%'$ D14D+1 "%4 "131 231W*1($+7 1dD481B $4 =#E'31$$1
=45513=#'+8 31D43$1B ' 5431 D48#$#,1 '$$#$*B1 $4"'3B 854@#(E<oH
X%#8 #8 $3*1 42 74*3 D113 E34*D< X%1 D34d#5#$7 1221=$ D31B#=$8 $%'$
74*e31 5431 +#@1+7 $4 01 23#1(B8 "#$% $%1 D1384( "%4 8#$8 (1d$ $4 74* #(
=+'88 $%'( $%1 D1384( "%4 8#$8 $"4 34"8 '%1'B<
X%1 D*0+#= 8D1'@13 '(B '*$%43 r#E r#E+'3 8'#BK Uc4*3 #(D*$ B1$135#(18
74*3 4*$+44@< c4*3 4*$+44@ B1$135#(18 74*3 4*$D*$K '(B 74*3 4*$D*$
B1$135#(18 74*3 2*$*31<V I1$$13 #(D*$8 +1'B $4 01$$13 $%#(@#(E '(B
*+$#5'$1+7 01$$13 4*$D*$8< O'30'E1 #(K E'30'E1 4*$<
&4 74* "'($ 01$$13 '(B 0#EE13 E4'+8n / 01$$13 b*$*31 )1+2n QdD481
74*381+2 $4 01$$13 D138D1=$#,18 '(B 1,4+,1B D14D+1< I*8#(188 8$3'$1E#8$
C%'3+#1 P4(18 8$'$1BK Uc4* "#++ 01 $%1 8'51 D1384( #( 2#,1 71'38 '8 74* '31
$4B'7 1d=1D$ 243 $%1 D14D+1 74* 511$ '(B $%1 044@8 74* 31'B<V I7
D34'=$#,1+7 =%'(E#(E 74*3 #(D*$8 42 #(2435'$#4(K 1dD13#1(=18K '(B D14D+1K
74* 01=451 '"'31 42 "%'$ 74* D31,#4*8+7 B#B(e$ @(4"< c4* 811 "%'$ 74*
D31,#4*8+7 B#B(e$ (4$#=1< c4* 811@ "%'$ 74* D31,#4*8+7 B#B(e$ "'($< c4*
'=$ #( "'78 74* D31,#4*8+7 B#B(e$ 01%',1<
V*'(84?'#22 #8 $%1 8@#++ 42 01=45#(E '"'31 42 74*3 =4($1d$K '(B %4"
$%'$ =4($1d$ #(2+*1(=18 74*<o] a%'$ #8 $%1 =4($1d$ 74*e31 #(n
64" #8 $%'$ =4($1d$ #(2+*1(=#(E 74*n
a%'$ E4'+8 '31 74* =*331($+7 D*38*#(En
a%'$ #8 $%1 +#21 74*e31 D3181($+7 +#,#(En
64" B#B 74* =%4481 74*3 +#21n
A8 74*3 +#21 $%1 D34B*=$ 42 =4(8=#4*8 =%448#(EK 43 '31 74* 5131+7
31'=$#(E $4 74*3 1(,#34(51($n /31 74*3 8*334*(B#(E8 E4,13(#(E 74*K 43 B4
74* #(2+*1(=1 74*3 1(,#34(51($n 9132435'(=1 D87=%4+4E#8$ &3< N'38%'++
O4+B85#$% 1dD+'#(1B #( %#8 044@ !1*--#12K UA2 "1 B4 (4$ =31'$1 '(B =4($34+
4*3 1(,#34(51($K 4*3 1(,#34(51($ =31'$18 '(B =4($34+8 *8<VoG
a1 +#,1 #( ' 84=#'+ 51B#' "43+B B18#E(1B $4 8*0=4(8=#4*8+7 #(2+*1(=1
'(B B#31=$ D14D+1e8 01%',#438K B18#318K #B1($#$#18K '(B #($1318$8< C*+$#,'$#(E
'"'31(188 42 $%1 #5D'=$ 42 74*3 1d$13('+ 1(,#34(51($ 4( 74*3 #($13('+
E4'+8 '++4"8 74* $4 01 5#(B2*+ 42 "%1( 74*e31 $3#EE131B #( ' =13$'#(
B#31=$#4(K '(B =4(8=#4*8+7 =%4481 $4 31'+#E( "#$% 74*3 b*$*31 )1+2< /8
m#@$43 b3'(@+ D*$ #$:
I1$"11( 8$#5*+*8 '(B 318D4(81 $%131 #8 ' 8D'=1< A( $%'$ 8D'=1 #8 4*3
D4"13 $4 =%4481 4*3 318D4(81< A( 4*3 318D4(81 +#18 4*3 E34"$% '(B 4*3
2311B45<oo
b311B45 =4518 2345 (4$ 01#(E $%1 B#31=$ 31'=$#4( 42 74*3 1(,#34(51($<
A(8$1'BK 01 '"'31 42 74*3 1(,#34(51($K '(B 8='( 1d$13('++7 243 B#22131($
D138D1=$#,18 '(B 4D$#4(8< QdD481 74*381+2 $4 (1" '(B 01$$13 "'78 42
'=$#(EK 01#(EK 811#(EK '(B $%#(@#(E< A( 1,137 8#$*'$#4(K 31E'3B+188 42 "%'$
74*e,1 B4(1 #( $%1 D'8$K $%131 #8 '+"'78 $%1 D488#0#+#$7 $4 B4 4$%13"#81<
X%131 #8 '+"'78 D4$1($#'+ 243 =4(8=#4*8 =%448#(E<
a%4 #8 $%1 D1384( 74* "'($ $4 01=451n c4*3 '(8"13 $4 $%#8 W*18$#4(
"#++K 40,#4*8+7K 01 #(2+*1(=1B 07 74*3 =*331($ =4($1d$< 64"1,13K 74*3
'(8"13 8%4*+B '+84 1d$1(B 0174(B 74*3 =*331($ =4($1d$< A5'E#('$#4( #8
5431 #5D43$'($ $%'( @(4"+1BE1<
a%4 B4 74* "'($ $4 01=451K #3318D1=$#,1 42 74*3 =*331($ 8#$*'$#4( '(B
#3318D1=$#,1 42 74*3 D'8$n j'$%13 $%'( %',#(E E4'+8 $%'$ '31 31'=$#,1 $4
74*3 =*331($ =4($1d$K #$ #8 2'3 5431 D4"132*+ $4 51($'++7 =31'$1 $%1 =4($1d$
74* "'($K "%#=% #8 "'7 0174(B 74*3 =*331($ =4($1d$K '(B *81 74*3 2*$*31
,#8#4( $4 B3#,1 74*3 '=$#4(8< /8 6'3,'3B D87=%4+4E#8$ &3< Q++1( M'(E13
8'#B:
)4=#'+ D87=%4+4E#8$8 '3E*1 $%'$ "%4 "1 '31 '$ '(7 4(1 $#51
B1D1(B8 548$+7 4( $%1 =4($1d$ #( "%#=% "1 2#(B 4*381+,18< I*$ "%4
=31'$18 $%1 =4($1d$n X%1 5431 5#(B2*+ "1 '31K $%1 5431 "1 ='( =31'$1
$%1 =4($1d$8 "1 '31 #(< a%1( "1 =31'$1 $%1 =4($1d$K "1 '31 5431
+#@1+7 $4 01 '*$%1($#=< N#(B2*+(188 +1$8 *8 811 $%#(E8 #( ' (1" +#E%$
'(B 01+#1,1 #( $%1 D488#0#+#$7 42 =%'(E1<o^
k(=1 74*e,1 D34'=$#,1+7 01E*( #5'E#(#(E ' b*$*31 )1+2 0174(B 74*3
=*331($ =4($1d$K 8%'D1 74*3 1(,#34(51($ $4 D*++ 74* #( $%'$ B#31=$#4(<
A(8$#(=$#,1+7K 74*3 03'#( "#++ '+31'B7 '(B #551B#'$1+7 01E#( B4#(E $%#8< /8
$%1 Q'8$13( 578$#= j*5# 8'#BK Ua%'$ 74* 811@ #8 811@#(E 74*<V
k(=1 74* B1=#B1 *D4( 8451$%#(E 74* "'($K 74*3 5#(B "#++ 01=451
5431 '"'31 42 #$ #( 74*3 1(,#34(51($< /==43B#(E $4 2#?#/)*0# %))#')*5'K
74*e++ 811 $%#(E8 $%'$ "131 '+31'B7 '++ '34*(BK "%#=% 74* "131 D31,#4*8+7
0+#(B $4<o`Ko_ X%#8 '"'31(188 1W*#D8 74* $4 8$3'$1E#='++7 2#(B D'$%"'78 '(B
D34=18818 $4 E1$ $4 "%131 74* "'($ $4 E4<
c4*e++ 01 '0+1 $4 B18#E( 74*3 1(,#34(51($ $4 01=451 "%4 74* "'($ $4
01< b43 #(8$'(=1K #2 74* "'($ $4 01=451 '( 1($31D31(1*3K 8*334*(B 74*381+2
"#$% 8*==1882*+ 1($31D31(1*38K (4$ '8D#3#(E 4(18< X4 01=451 %1'+$%7K
8*334*(B 74*381+2 "#$% D14D+1 "%4 '31 2#$< A2 74* "'($ $4 01 "1'+$%7K E4
"%131 '0*(B'(=1 #8 $%1 (435< I1=451 $%1 ',13'E1 42 $%1 D14D+1 74*
8*334*(B 74*381+2 "#$%<
Q,1( &3< /(E1+' &*=@"43$%K "%481 3181'3=% 24=*818 4( E3#$T' 2'#3+7
#(B#,#B*'+#8$#= '$$3#0*$1T=4(=1B18 $%'$ E3#$ #8 5*=% 1'8#13 $4 B1,1+4D '(B
*$#+#f1 #( 1(,#34(51($8 "%131 %#E% D132435'(=1 #8 $%1 1dD1=$1B (435<o[
I1=45#(E 74*3 B18#31B b*$*31 )1+2 #(,4+,18 '+#E(#(E 74*381+2 "#$% D14D+1
"%4 ='( %1+D 74* E1$ $%131<
X%1 5131Y1dD48*31 1221=$ D+*8 $%1 97E5'+#4( 1221=$<
6*5'(8 'B'D$ '5'f#(E+7 W*#=@+7< a%4 74* '+#E( 74*381+2 "#$% %'8
5'88#,1 31D13=*88#4(8< A2 74* %'(E 4*$ "#$% D14D+1 "%4 D+'7 ,#B14 E'518
'(B 1'$ J*(@ 244BK 74*e++ W*#=@+7 E34" $4 +#@1 '(B 1,1( +4,1 $%481
01%',#438< C4(,1381+7K 8D1(B $#51 '34*(B '=$#,1 '(B D34B*=$#,1 D14D+1K
74* W*#=@+7 $'@1 4( $%481 $3'#$8< / $3*1 23#1(B 5'@18 74*3 b*$*31 )1+2
0#EE13<
/8 74* '+#E( 74*381+2 D1384('++7 '(B D342188#4('++7 "#$% 4$%138K $%481
31+'$#4(8%#D8 $'@1 74* B4"( ' =13$'#( D'$%< a%#+1 8451 31+'$#4(8%#D8 '31
+#21+4(EK 548$ 31+'$#4(8%#D8 '31 =4($1d$*'+< b43 #(8$'(=1K 74* 5'7 %',1 '
51($43 43 0*8#(188 D'3$(13 "%4 %1+D8 74* 243 ' D13#4B 42 $#51< I*$ '$ '
=13$'#( D4#($K 74* 5'7 4*$E34" $%1 31+'$#4(8%#DK '(B (11B $4 2#(B ' (1"
$1'=%13 43 D'3$(13<
a%'$ E4$ 74* %131 "4(e$ E1$ 74* $%131< A$ $'@18 '"'31(188K 0*$ '+84
=4*3'E1< A$ ='( 01 %'3B 43 8='37 $4 *(Y'+#E( "#$% D14D+1 74*e,1 011(
B11D+7 =4((1=$1B "#$%< I*$ #$ ='( '+84 01 8#5D+1 '(B 318D1=$2*+< ;(Y
'+#E(#(E B418(e$ 51'( 84514(1 #8 "34(E 43 0'B< b31W*1($+7 74*3 ,#8#4(
%'8 1,4+,1BK '(B $%'$ 31+'$#4(8%#D #8 (4 +4(E13 $'@#(E 74* #( ' 8%'31B
B#31=$#4(<
X4 '+#E( 74*381+2 "#$% 8D1=#2#= D14D+1K 74*e++ "'($ $4 01
)1%'2851>%)*5'%? '(B (4$ )1%'2%/)*5'%? #( 74*3 5#(B81$<
X%#8 B418(e$ 51'( $%'$ $3'(8'=$#4(8 43 1=4(45#=8 "4(e$ $'@1 D+'=1<
X%17 *8*'++7 "#++< /BB#$#4('++7K $%#8 B418(e$ 51'( 74*e31 (4$ 8$3'$1E#=<
Q,1( $%1 D1384( 74* 5'337 4*E%$ $4 01 0'81B 4( 2'3 5431 $%'( 5131
#(2'$*'$#4(< A(8$1'BK 5'337 0'81B 4( 8%'31B ,#8#4( '(B D*3D481 243 74*3
2*$*318<
A( $3'(82435'$#4('+ 31+'$#4(8%#D8K $%131 #8 (4 @11D#(E 8=431< X%131e8 '
E1(*#(1 B18#31 $4 %1+D '(B 8*DD43$ 1'=% 4$%13< X%1 D*3D481 '(B 'DD34'=%
42 $%1 31+'$#4(8%#D #8 $3'(82435'$#4(K "%#=% 24=*818 4( E#,#(EK E3'$#$*B1K
'(B E34"$%<
j'$%13 $%'( 408188#(E 4( U"%'$e8 #( #$ 243 51nV 74* '8@K U"%'$e8 #( #$ 243
$%15nV c4* 8$'3$ $%1 31+'$#4(8%#D 07 %1+D#(E $%1 4$%13 D1384( 01$$13
'=%#1,1 $%1#3 4"( E4'+8<
X3'(82435'$#4('+ 31+'$#4(8%#D8 ='( $'@1 74* D+'=18 74* (1,13 1dD1=$1B
$4 E4< c4*3 b*$*31 )1+2 ='( 01=451 *(D31B#=$'0+7 01$$13 '(B 0#EE13<
X3'(8'=$#4('+ 31+'$#4(8%#D8 ='( 4(+7 $'@1 74* 84 2'3< c4*3 b*$*31 )1+2
01=4518 E31'$+7 +#5#$1B<
X%31'$ vo #8 $%'$ 74*3 b*$*31 )1+2 #8 $%1 07D34B*=$ 42 74*3 1(,#34(51($<
I1#(E 5#(B2*+ 1('0+18 74*3 1(,#34(51($ $4 01 $%1 318*+$ 42 74*3 =4(8=#4*8
=%448#(E<
C%4481 "1++<
$-(%5$ < @
/8 ' 8D1=#18K "1 %',1(e$ 1,4+,1B $4 D+'( GH 71'38 #($4 $%1 2*$*31< /8 '
3*+1K 4*3 B1=#8#4(Y5'@#(E #8 574D#=K 8%43$8#E%$1BK '(B +'=@8 #5'E#('$#4(<
a1e31 %1',#+7 #(=1($#,#f1B $4 811@ 31"'3B8 #( $%1 D3181($K "%#=% ='(
E31'$+7 =48$ 4*3 +4(EY$135 b*$*31 )1+,18<
/==43B#(E $4 &3< 6'+ 6138%2#1+BK ' ;CM/ D87=%4+4E#8$ "%4 %'8 #(,18$1B
]` 71'38 8$*B7#(E $%1 b*$*31 )1+2 =4(=1D$K $%1 2#38$ 8$1D $4 2'38#E%$1B
B1=#8#4(Y5'@#(E #8 01#(E =4((1=$1B $4 74*3 b*$*31 )1+2< C4((1=$#4( 8$'3$8
"#$% %',#(E 15D'$%7 243 74*3 b*$*31 )1+2K J*8$ '8 74*eB %',1 15D'$%7 243
'(4$%13 D1384(<oZ X4 %',1 15D'$%7K 74* =4(8#B13 $%1 4$%13 D1384(e8
D138D1=$#,18< c4* $37 $4 *(B138$'(B "%131 )"#C '31 =45#(E 2345K '(B "%'$
5'$$138 )5 )"#><
A5D43$'($+7K 0*#+B#(E ' =4((1=$#4( $4 74*3 b*$*31 )1+2 31W*#318 811#(E
74*3 b*$*31 )1+2 '8 ' (*88#1#') }' 2345 "%4 74* '31 $4B'7<
X%#8 B418 (4$ =451 ('$*3'++7< /8 ' 3*+1K 548$ D14D+1 '88*51 $%1#3
b*$*31 )1+2 #8 0'8#='++7 $%1 8'51 D1384( $%17 '31 $4B'7 !811 X3*$% vG-<
I7 811#(E 74*3 b*$*31 )1+2 '8 ' B#22131($ D1384(K 74* 'DD31=#'$1 $%'$ $%#8
D1384( 8118 $%#(E8 B#22131($+7 $%'( 74* B4 (4"< X%17 ='31 '04*$ B#22131($
$%#(E8 $%'( 74* B4 (4"< X%17eB '=$ B#22131($+7 $%'( 74* "4*+B (4"<
/(4$%13 8$1D 42 15D'$%7 #8 'DD31=#'$#(E %4" 74*3 '=$#4(8K 43 #('=$#4(8K
#5D'=$ $%1 4$%13 D1384(< A( $%#8 ='81K %4" '31 74*3 =*331($ 01%',#438
#5D'=$#(E 74*3 b*$*31 )1+2n X%1 5431 =4(8=#4*8 74* 01=451 42 %4"
1,137$%#(E 74* B4 3#E%$ (4" #5D'=$8 $%1 D1384( 74* '31 #( $%1 2*$*31K $%1
01$$13 '(B 5431 $%4*E%$2*+ 74*3 '=$#4(8 "#++ 01<
6138%2#1+B 24*(B ' B#31=$ =4331+'$#4( 01$"11( $%1 +1,1+ 42 =4((1=$#4(
74* %',1 "#$% 74*3 b*$*31 )1+2 '(B $%1 W*'+#$7 42 74*3 B1=#8#4(8 3#E%$ (4"<
I174(B 15D'$%7K 0*#+B#(E ' B11D =4((1=$#4( #8 $3*+7 +#@#(E $%1 4$%13
D1384(< c4* 811 $%1 4$%13 D1384( '8 74*3 23#1(BK 84514(1 74* ='31 '04*$
"%4 E1(*#(1+7 ='318 243 74*<^H
a%1( 74* $3*+7 ='31 '04*$ '(4$%13 D1384(K 74* '31(e$ D*$Y422 07 5'@#(E
8'=3#2#=18 42 74*3 $#51K 1(13E7K '(B 3184*3=18 243 $%15< c4*e++ 8'=3#2#=1
8D1(B#(E 54(17 (4" 84 74*3 b*$*31 )1+2 ='( %',1 5431 54(17 +'$13<
c4*e++ 8'=3#2#=1 5451($'37 E3'$#2#='$#4(8 $4 #(,18$ #( 1B*='$#4(K %1'+$%K
'(B 31+'$#4(8%#D8<
N4,#(E 2345 +#@#(E $4 +4,#(E 74*3 b*$*31 )1+2 #8 $%1 B#22131(=1 01$"11(
8'=3#2#=#(E 243 84514(1 '(B #(,18$#(E< a%1( A $3*+7 ='31 '04*$ 8451$%#(E
43 84514(1K A %'DD#+7 #(,18$ #( $%'$ $%#(E 43 31+'$#4(8%#D<
A2 A ='31 '04*$ D#'(4K Ae++ #(,18$ 5431 $4 +1'3( $4 D+'7<
A2 A ='31 '04*$ 84514(1K Ae++ #(,18$ #( $%1 E34"$% 42 $%'$ 31+'$#4(8%#D<
A2 A ='31 '04*$ 51K A #(,18$ #( 5781+2 84 A ='( =4($#(*'++7 *DE3'B1 57
$%#(@#(EK 4DD43$*(#$#18K '(B 8@#++8< a%1( A ='31 '04*$ 57 b*$*31 )1+2K A
%'DD#+7 #(,18$ #( $%1#3 "1++Y01#(EK 8#$*'$#4(K 2311B458K '(B =%'3'=$13#8$#=8<
A %'DD#+7 5'@1 $%181 #(,18$51($8< A "'($ $4 5'@1 $%181 #(,18$51($8K
01='*81 A @(4" $%'$ 1,137 $#51 A #(,18$ #( 57 b*$*31 )1+2K 57 +#21 E1$8
01$$13<
/8 74* #(,18$ #( 74*3 b*$*31 )1+2K 74* '31 5431 =4((1=$1B $4 $%15<
c4* +4,1 "%'$1,13 74* #(,18$ 74*381+2 #(<
c4* 01=451 =455#$$1B $4 "%'$1,13 74* #(,18$ 74*381+2 #(<
k,13 $#51K "%'$1,13 74* #(,18$ #( E34"8 '(B =45D4*(B8<
A(,18$#(E #( 74*3 b*$*31 )1+2 03#(E8 74* =+4813 $4 $%'$ D1384( 74* '31
E34"#(E #($4< /8 74* +4,1 $%15 5431K 74*3 b*$*31 )1+2 1dD'(B8
1dD4(1($#'++7< /8 74*3 ,#8#4( 42 74*3 b*$*31 )1+2 E34"8K 74*3 D3181($
%'DD#(188 '(B 54$#,'$#4( #(=31'818< &'( )*++#,'( 8'#BK UX%1 4(+7 "'7 $4
5'@1 74*3 D3181($ 01$$13 #8 07 5'@#(E 74*3 2*$*31 0#EE13<V
/ =+1'3 '(B 40,#4*8 $%31'$ $4 74*3 b*$*31 )1+2 #8 (4$ 01#(E =4((1=$1B $4
$%15< 6138%2#1+B 24*(B $%'$ 548$ D14D+1 B4(e$ 8D1(B 5*=% $#51 $%#(@#(E
'04*$ $%1#3 b*$*31 )1+2< C'*E%$ *D #( $%1 8%43$Y$135 B4D'5#(1 42 $%1
D3181($K +#@1 3'(B45+7 8=34++#(E $%34*E% 84=#'+ 51B#'K 0#(E1 1'$#(EK 43
0#(E1 8D1(B#(EK 811@#(E 8%43$Y$135 31"'3B8 =31'$18 +4(EY$135 =48$8< a%1(
74* 1(E'E1 #( 8%43$Y$135 31"'3B 811@#(E $%'$ D34B*=18 (1E'$#,1 +4(EY$135
=4(81W*1(=18K $%1( 74*e31 =48$#(E 74*3 b*$*31 )1+2<
a%1(1,13 74* 1(E'E1 #( +4(EY$135 31"'3B 01%',#438 "%131 $%1 01(12#$8
=4($#(*1 +4(E #($4 $%1 2*$*31K 74*e31 #(,18$#(E #( 74*3 b*$*31 )1+2<
Q,137$%#(E 74* B4 #8 1#$%13 ' B12#=#$ $4 43 '( #(,18$51($ #( 74*3 b*$*31
)1+2< C48$8 D*$ 74*3 b*$*31 )1+2 B11D13 #( B10$< A(,18$51($8 5'@1 74*3
b*$*31 )1+2 "1'+$%#13<
&4 74* "'($ 74*3 b*$*31 )1+2 $4 01 034@1 '(B *(%1'+$%7K 43 2#$ '(B 2311n
X%1 5431 74* 1(E'E1 #( 8%43$Y$135 31"'3B 811@#(EK $%1 2*ff#13 74*3
+4(EY$135 b*$*31 )1+2 "#++ 01=451< c4* "4(e$ 01 '0+1 $4 1(,#8#4( 0174(B
$%1 (1d$ 21" B'78K "11@8K 43 5'701 54($%8<
X%1 5431 74* #(,18$ #( +4(EY$135 31"'3B8K $%1 =+1'313 74*3 b*$*31 )1+2
01=4518< X%#8 =31'$18 "%'$ 6138%2#1+B ='++8 ,#,#B(188K '( 1d$3151+7
'B,'(=1B 2435 42 =4((1=$#4( "#$% 74*3 b*$*31 )1+2< X%1 5431 ,#,#B '(B
B1$'#+1B 74*3 b*$*31 )1+2K $%1 5431 B#31=$ ='( 01 74*3 D34=188 $4 E1$ $%131<
/ ,#,#B 2*$*31 #8 ' =45D1++#(E 2*$*31< 93'=$#=1B '$ #(,18$#(E #( 74*3
b*$*31 )1+2 '(B '=%#1,#(E 85'++ 5#+18$4(18 '+4(E $%1 "'7K 74*e++ 1(,#8#4(
#( 1d$3151 B1$'#+ 74*3 b*$*31 )1+2 '8 ' D1384(K 74*3 1(,#34(51($K =4($1d$K
'(B B'#+7 +#21<
6138%2#1+B 24*(B $%'$ #$e8 '=$*'++7 1'8#13 $4 03#(E 74*3 b*$*31 )1+2 $4 74*
$%'( E4 $4 74*3 b*$*31 )1+2< N'@1 74*3 b*$*31 )1+2 ,#,#B '(B B1$'#+1B 07
"3#$#(E ' +1$$13 815> 74*3 b*$*31 )1+2 $4 74*3 =*331($ 81+2< C%4481
"%'$1,13 $#51 23'51 74* "'($<
b43 1d'5D+1K D*$ 74*381+2 #( $%1 8%418 42 74*3 b*$*31 )1+2 2#,1 71'38
2345 (4"< A5'E#(1 "%'$ $%1#3 +#21 #8 +#@1K '(B $%1( "3#$1 ' +1$$13K '8 74*3
b*$*31 )1+2K $'+@#(E $4 $%1 =*331($ 74*< 6',1 74*3 b*$*31 )1+2 B18=3#01
"%'$ $%1#3 +#21 #8 +#@1<
&4(e$ E1$ =45D+#='$1B<
&4(e$ 4,13$%#(@<
X'@1 '8 +4(E 43 '8 +#$$+1 '8 74* "'($ 4( $%#8K ` 5#(*$18 43 _H< 6',1 $%1
2+1d#0#+#$7 '(B #5'E#('$#4( $4 J*8$ "3#$1<
/8 74* D3'=$#=1 #5'E#(#(E 74*3 b*$*31 )1+2K 74* E1$ 01$$13 '(B =+1'313 '$
01#(E =4((1=$1B "#$% $%15< A2 #( $%1 01E#((#(E #$ 211+8 ' +#$$+1 '"@"'3B 43
B#22#=*+$K $%1( J*8$ "3#$1 #( 034'B E1(13'+#$#18< I*$ '+84K 01 D+'72*+< X%#8 #8
8#5D+7 ' =4(,138'$#4( 01$"11( 74*3 b*$*31 )1+2 '(B 74*< R4 4(1 1+81 #8
%131< R4 4(1 1+81 #8 +44@#(E< 6',1 2*(<
X%34*E% $%#8 1d13=#81K Ae,1 011( '0+1 $4 811 $%1 1d'=$ %4*81 "%131 57
b*$*31 )1+2 "#++ +#,1< A ='( 811 %4" 57 b*$*31 )1+2 8D1(B8 $#51K %4" 5*=%
54(17 $%17 5'@1K '(B %4" %'DD7 $%17 211+< X%1 5431 A #(,18$ #( 57
b*$*31 )1+2K $%1 5431 "1 =4++'043'$1 $4E1$%13 $4 =31'$1 ' D3424*(B+7
D4"132*+ +#21<
b43 'BB#$#4('+ %1+D =4((1=$#(E "#$% 74*3 b*$*31 )1+2K ,#8#$
b;X;jQ)QMb<CkNlCkRRQCX< X%131 74* ='( "3#$1 ' +1$$13 2345 74*3
b*$*31 )1+2 $4 5'@1 $%15 5431 ,#,#B<
X%1 ^$% X%31'$ $4 74*3 b*$*31 )1+2 #8 (4$ 01#(E =4((1=$1B $4 $%15< c4*
"#++ (4$ 01 '0+1 $4 D34'=$#,1+7 =31'$1 $%1 +#21 74* "'($ #2 74*e31 (4$
=4((1=$1B $4 74*3 b*$*31 )1+2<
c4* "4(e$ 01 '0+1 $4 $%#(@ '(B 8$3'$1E#f1 +4(E $135<
c4*e++ 01 ='*E%$ *D 07 1(B+188 B#8$3'=$#4(8 $%34*E%4*$ 74*3 B'7<
c4*3 B1=#8#4(8 "#++ 01 574D#=<
c4*e++ =48$ 74*3 b*$*31 )1+2 E31'$+7K D*$$#(E $%15 B11D13 #( B10$ #( '++
"'78<
$-(%5$ < A
8M/ 5"2 *.+"2( .& 2.+%5*.$: @5*&@%5"& @2(.+"2(&: B( @.**5+ '($D #"+
+'%*F 5A +'( A"+"2(= M"+ 65&+ D(5D$(: 5"+ 5A A(.2: $%6%+ +'(%2 C%(B 5A
+'( A"+"2( +5 . *.225B 2.*4(= 9'5"4'+& 5A +565225B: . A(B B((F&
.'(.): D(2'.D& . C.4"( D$.* A52 +'( 65*+'& +5 @56(= G( .2(
4(*(2.$$/ )(.$%*4 B%+' &5 6.*/ %66()%.+( #.++$(& +'.+ %+ %& '.2) A52
"& +5 $%A+ 5"2 4.Q( .#5C( +'( 656(*+= 7+ %& . $.B 5A D5B(2: '5B(C(2:
+'.+ +'( A"2+'(2 .*) )((D(2 B( @5*+(6D$.+( +'( A"+"2(: +'( 42(.+(2
5"2 @.D.@%+/ +5 &'.D( %+ +5 5"2 )(&%2(&=>
T`H C1($ '(B j4013$ O311(1K !"# YS)" F%<^]
A( $%1 GH]] 8=#1(=1 2#=$#4( 2#+5 D' !*>#6 P*8$#( X#5013+'@1 D43$3'78 '
=%'3'=$13 ('51B a#++ )'+'8K "%4 +#,18 #( $%1 E%1$$4< A(8$1'B 42 54(17K
)*># #8 $%1 4(+7 =*331(=7K '(B 1,1374(1 %'8 ' B#E#$'+ =+4=@ 1501BB1B #($4
$%1#3 '35 #(B#='$#(E $%1 '54*($ 42 $#51 $%17 %',1< b43 1d'5D+1K 3'$%13
$%'( ' =*D 42 =42211 =48$#(E p^ B4++'38K #$ =48$8 24*3 5#(*$18< X%131 '31
85'++ B1,#=18 *81B #( $%#8 84=#1$7K 8#5#+'3 $4 ' =31B#$ ='3B 5'=%#(1K $%'$
'BB 43 $'@1 '"'7 $#51 "%1( 8='((1B 4( ' D1384(e8 '35 =+4=@<
;($#+ $%1 'E1 42 G`K 74*3 =+4=@ B418(e$ 8$'3$ $#=@#(E< k(=1 74* %#$ 74*3
G`$% 0#3$%B'7K 74* %',1 4(1 71'3e8 $#51 4( 74*3 =+4=@K "%#=% #551B#'$1+7
8$'3$8 $#=@#(E B4"(< /2$13 'E1 G`K 74* 8$4D D%78#='++7 'E#(E< a%1$%13
74*e31 G\K ^ZK 43 oHGK 74* +44@ '8 74* B#B "%1( 74*3 =+4=@ 8$'3$1B $#=@#(E<
c4* +#,1 '8 +4(E '8 74* %',1 $#51<
X%1 D14D+1 +#,#(E #( $%1 E%1$$4 '31 +#,#(E B'7Y$4YB'7K "%#+1 $%481 #( $%1
%#E%18$ X#51 r4(1 ='( =4(=1#,'0+7 +#,1 2431,13 "#$% B1='B18 43 =1($*3#18
42 $#51 4( $%1#3 =+4=@8< A( $%1 E%1$$4K D14D+1 B1D1(B 4( $%1 $#51 'BB1B $4
$%1#3 =+4=@8 '$ $%1 1(B 42 1'=% "43@ 8%#2$< X%17 E1$ J*8$ 1(4*E% $#51 $4 E1$
$%15 $4 $%1 1(B 42 $454334"e8 8%#2$ "%131 $%17e++ E1$ $%1#3 (1d$ '++4$51($<
C%'#(1B $4 $%1#3 J408 43 4$%13 B'(E134*8 '(B B18D13'$1 51'(8 243 $%1#3
+#,1+#%44BK $%1 E%1$$4YB"1++138 3'31+7 %',1 5431 $%'( G^ %4*38 4( $%1#3
=+4=@8< X%17 B4(e$ %',1 1(4*E% $#51 $4 8$1D '"'7 2345 $%1#3 3'$ 3'=1 $4
8$3'$1E#f1 43 $%#(@ '04*$ =31'$#(E ' 01$$13 2*$*31<
/ 2*(B'51($'+ '8D1=$ 42 $%1 2#+5 #8 $%'$K 4(=1 74* =+4=@ 4*$ 43 3*( 4*$
42 $#51K 74* B#1< 914D+1 #( $%1 E%1$$4 '31 24*(B B1'B 4( $%1 8$311$8 '++ $%1
$#51< X%131e8 ' B'7Y$4YB'7 5'B 3*8% '(B B18D13'$#4( $4 8*3,#,1< X%131 #8
(4 $%3#,#(E<
A( $%1 2#+5K 1=4(45#= 8$'$*8 #8 D43$3'71B '8 ' %#E%13 X#51 r4(1 "#$%
01$$13 J408 '(B +#,#(E =4(B#$#4(8<
X4 E1$ 4*$ 42 $%1 E%1$$4 '(B #($4 $%1 +4"13Y5#BB+1Y=+'88 X#51 r4(1
=48$8 5'# >5')"23 $#51
X4 E1$ 2345 $%1 +4"13Y5#BB+1Y=+'88 X#51 r4(1 #($4 $%1 5#BB+1 =+'88
=48$8 )<5 >5')"23 )*>#
X4 E1$ 2345 $%1 5#BB+1Y=+'88 X#51 r4(1 #($4 $%1 *DD13 5#BB+1 =+'88
=48$8 2*L >5')"23 )*>#
X4 E1$ 2345 $%1 *DD13Y5#BB+1Y=+'88 X#51 r4(1 #($4 R1" O311("#=%K
"%#=% 31D3181($8 $%1 4(1 D13=1($ 42 4(1 D13=1($ 51E'Y"1'+$%7 =48$8
5'# C#%132 <51)" 58 )*>#
X%1 =48$ 42 +#,#(E #( 1'=% X#51 r4(1 '+84 E418 *D B3'5'$#='++7< X%1
318$'*3'($8 #( R1" O311("#=% =%'3E1 5431 $%'( ' 54($% 42 $#51 243 '
51'+< X%1 %4*818 =48$ 81,13'+ 71'38 43 B1='B18< C3488#(E $4 ' %#E%13 X#51
r4(1 31W*#318 $%1 #(=451 $4 8*DD43$ $%'$ %#E%13 +#218$7+1<
X%1 D340'0#+#$7 42 84514(1 #( $%1 E%1$$4 1,13 '==*5*+'$#(E ' 54($% 42
$#51 #8 *(+#@1+7< /(B $%1 D14D+1 "%4 (1"+7 $*3( G` 3'31+7 E4 $4 $%1 %#E%13
X#51 r4(18 01='*81 $4 B4 84K $%17eB %',1 $4 +1',1 2'5#+7 01%#(B< a#++e8
2'5#+7 "'8 #( 8*=% B11D B10$ $%'$ '++ 42 %#8 $#51 "'8 8D1($ '(B E4(1 '
"11@ '2$13 %#8 G`$% 0#3$%B'7<
/( #($1318$#(E $%#(E $4 (4$1 #8 $%'$ 1,137$%#(E 211+8 8+4"13 #( $%1 %#E%13
X#51 r4(18< I1='*81 D14D+1 %',1 '( 1(4354*8 '54*($ 42 $#51K $%17 '31
(1,13 #( ' 3*8%< C4(,1381+7K $%1 D14D+1 #( $%1 +4"13 X#51 r4(18 %',1 2'3
+188 $#51K 84 $%17e31 '+"'78 3*8%#(E '(B 0*87< A$e8 5*=% 5431 8$31882*+<
)#5#+'3 $4 $%'$ 8=#Y2# 54,#1K 548$ %*5'( 01%',#43 #8 B3#,1( 07 ,137
8%43$Y$135 E4'+8 #(=+*B#(E 1'$#(EK D'7#(E 0#++8K E1$$#(E $4 "43@K E1$$#(E $%1
@#B8 $4 8=%44+K 34$'$#(E $%1 $#318K '(B 03*8%#(E 74*3 $11$%< A$e8 B'7Y$4YB'7
+#,#(EK 43 '$ 548$K 54($%Y$4Y54($% +#,#(E "#$% '( 4=='8#4('+ ,'='$#4(
D+'((1B #( $%131<
A( ]ZH_K /+231B 61(37 M1"#8 8$'$1BK UX%131 '31 4(+7 (#(1 51'+8 01$"11(
5'(@#(B '(B '('3=%7<V N'(7 D14D+1 '31 '34*(B (#(1 51'+8 '"'7 2345
%*(E13< N48$ B4(e$ %',1 ' _Y54($% 244B 8*DD+7< X%17 B4(e$ %',1 ]G
54($%8 42 1513E1(=7 ='8%<
X%1 31'84( $%17e31 +#,#(E B'7Y$4YB'7 #8 01='*81 $%1#3 E4'+8 '31 B'7Y$4Y
B'7< O1$ $4 "43@< O1$ $4 +*(=%< O1$ $4 $%1 1(B 42 $%1 B'7< O1$ $4 $%1
"11@1(B< 9'7 $%1 0#++8< X%1 2*$*31 5'(7 D*38*1 #8 4(+7 ' 8$1D '%1'B '(B
"1 211+ +#@1 $%1 878$15 #8 B18#E(1B $4 @11D D14D+1 8$*=@ #( $%#8 8*3,#,'+Y
54B1 "'7 42 +#,#(E<
A2 74*e31 +#,#(E B'7Y$4YB'7K 74*e31 '+"'78 #( ' %*337<
a%1( 74*e31 1(E'E1B #( 8%43$Y$135 E4'+8K 74*3 $#51 8D#3'+8 W*#=@13 '(B
W*#=@13< M#@1 ' %'58$13 4( ' "%11+K 74*e31 +#,#(E +4$8 42 71'38 '(B
1dD1(B#(E +4$8 42 1(13E7K 0*$ (4$ 5'@#(E D34E3188<
X4 1d#$ $%1 3'$ 3'=1 42 B'7Y$4YB'7 5#(B81$ 31W*#318 ' 8%#2$ #( 74*3 24=*8<
C4((1=$ $4 ' 0#EE13 2*$*31< A2 74* E1$ 813#4*8K '(B 8$'3$1B #(,18$#(E '(B
+1'3(#(EK <"#1# /54?( C54 O# *' 8*0# C#%12]
A( 2#,1 71'38K N3I1'8$ "1($ 2345 ' ][Y71'3Y4+B @#B "#$% (4 54(17 '(B
+#$$+1 8@#++8 $4 5'@#(E $1(8 42 5#++#4(8 42 B4++'38K '(B 01#(E 4(1 42 $%1
548$ 2'54*8 D14D+1 #( $%1 "43+B<
X%1 "'7 $4 8+4" $#51 B4"( '(B 31'++7 5'@1 D34E3188 #8 $4 +#2$ 74*3 E'f1
'(B 01E#( $%#(@#(E 5*=% 0#EE13 '(B 2*3$%13 4*$< X%1 o^$% ;(#$1B )$'$18
D318#B1($K &"#E%$ &< Q#81(%4"13K 2'54*8+7 8'#BK UA %',1 $"4 @#(B8 42
D340+158: $%1 *3E1($ '(B $%1 #5D43$'($< X%1 *3E1($ '31 (4$ #5D43$'($K '(B
$%1 #5D43$'($ '31 (1,13 *3E1($<V
I*8#(188 8$3'$1E#8$ &3< )$1D%1( C4,17 *81B 34=@8K D100+18K '(B ' 0*=@1$
$4 $1'=% $#51 5'('E151($< A( $%1 '=$#,#$7K %1 2#++1B $%1 0*=@1$ "#$% $%1
85'++ D100+18 '(B $%1( 'BB1B $%1 51B#*5 '(B +'3E1 34=@8< 64"1,13K "#$%
$%1 85'++ D100+18 $'@#(E *D $%1 04$$45 %'+2 42 $%1 0*=@1$K $%1 51B#*5 '(B
+'3E1 34=@8 =4*+B(e$ '++ 2#$<
61 15D$#1B $%1 0*=@1$ '(B 8$'3$1B 4,13K $%#8 $#51 D*$$#(E #( $%1 51B#*5
'(B +'3E1 34=@8 2#38$K '(B D4*3#(E $%1 D100+18 #($4 $%1 E'D8 '34*(B $%1
+'3E13 34=@8< I7 UD*$$#(E 2#38$ $%#(E8 2#38$KV +#@1 5'E#=K 1,137$%#(E 1+81 2#$8
#( $%1 8'51 8D'=1< 9*$$#(E $%1 D100+18 #( 2#38$ #8 5'J43#(E #( 5#(43 $%#(E8<
C4,17 8'#B $%1 0*=@1$ 87504+#f18 4*3 $#51< X%1 51B#*5 '(B +'3E1
34=@8 31D3181($ #5D43$'($ '=$#,#$#18 8*=% '8 31+'$#4(8%#D8K D+'((#(EK
+1'3(#(EK '(B %1'+$%< X%1 D100+18 31D3181($ *3E1($ '=$#,#$#18 8*=% '8
=%1=@#(E 15'#+ '(B E4#(E $4 511$#(E8<
a%1( "1 D*$ $%1 *3E1($ 012431 $%1 #5D43$'($K "1 (1,13 E1$ $4 $%1
#5D43$'($< 9+'7"3#E%$ N131B#$% a#++84( "34$1K Uc4* D#+1 *D 1(4*E%
$454334"8K '(B 74*e++ 2#(B 74* '31 +12$ "#$% (4$%#(E 0*$ ' +4$ 42 15D$7
718$13B'78<V
X%1 4(+7 "'7 422 $%1 B'7Y$4YB'7 %'58$13 "%11+ #8 $4 &1*51*)*Z# $%1
#5D43$'($< c4* E#,1 74*381+2 8D'=1 $4 $%#(@ 0174(B 74*3 =*331($ =4($1d$K
'(B 31'++7 8$'3$ #(,18$#(E #( 74*381+2< 9*$ $%1 #5D43$'($ 012431 $%1 *3E1($<
M#2$ 74*3 E'f1 '(B 01E#( =4((1=$#(E "#$% 74*3 +4(E13 $135 b*$*31 )1+2<
&1,1+4D E4'+8 $%'$ '31 2#,1 71'38 4*$K '(B D3#43#$#f1 $%481 0#E E4'+8
O#851# $%1 *3E1($ B'#+7 0'$$+18<
X%31'$ v` #8 $%#(@#(E 2'3 $44 8%43$ $135 '(B *3E1($ #( 74*3 E4'+8K '(B
"'7 $44 85'++ '04*$ 74*3 2*$*31< X%#8 #8 ' 2435*+' $4 1d%'*8$ 1d$3151
12243$ 0*$ 8$'7 #( $%1 8'51 D+'=1<
/2$13 E3#(B#(E '"'7 $%1 2#38$ `H 71'38 42 %#8 +#21K 0*8#(188 54E*+ O3'($
C'3B4(1 31'+#f1B $%'$ "%#+1 %#8 "43@ 1$%#= "'8 84+#BK %#8 E4'+8 "131 $44
85'++< c4* ='( "43@ \H %4*38 D13 "11@ $4"'3B ' 8#dY2#E*31 #(=451 43 74*
='( "43@ \H %4*38 D13 "11@ $4"'3B ' 81,1(Y 43 1#E%$Y2#E*31 #(=451< X%1
'54*($ 42 "43@ #8(e$ "%'$ 31'++7 5'$$138< A$e8 "%'$ $%'$ "43@ #8 E4#(E
$4"'3B< /8 C'3B4(1 1dD+'#(8 #( %#8 044@ !"# QS^ G4?#:
O3'($ C'3B4(1 "'8 043( N'3=% G\K ]Z`ZK #( M'@1 C%'3+18K M4*#8#'('<
61 D*0+#8%1B !"# QS^ G4?# #( GH]] "%1( %1 "'8 `G 71'38 4+B< X%1 31+1'81
42 $%'$ 044@ "'8 '( #(2+1=$#4( D4#($ #( C'3B4(1e8 ='3113< / 31+'$#,1+7
8*==1882*+ 5#++#4('#31K %1 3'( 8'+18 '(B 31'+ 18$'$1 =45D'(#18 8#(=1 $%1
+'$1 ]Z\H8<
I*$ "%1( %1 D*0+#8%1B !"# QS^ G4?# '(B =455#$$1B $4 +#,#(E ' 5*=%
%#E%13 ,#8#4(K %1 01='51 2'3 5431 =4*3'E14*8 '(B 04+B13< A( GH]GK %1
5'B1 $%1 8#(E+1 +'3E18$ D3#,'$1 1W*#$7 '=W*#8#$#4( #( b+43#B'K =4(8#8$#(E 42
2#,1 +'3E1Y8='+1 D34D13$#18< b345 GH]] $4 GHG]K %1 ]HxeB %#8 (1$ "43$%
2345 'DD34d#5'$1+7 pGH 5#++#4( $4 5431 $%'( poHH 5#++#4(K =31'$#(E '
D43$24+#4 "43$% 81,13'+ 0#++#4( B4++'38< C'3B4(1 3'B#='++7 1+1,'$1B %#8
,#8#4(<
a%'$ 4DD43$*(#$#18 '31 74* 5#88#(E 8#5D+7 01='*81 74*e31 84 24=*81B
4( 74*3 *3E1($ '(B 85'++ E4'+8n^oK^^ )*2213#(E 2345 *'%))#')*5'%?
O?*'('#22K D14D+1 '31 84 0*87 +44@#(E 243 034(f1 =4#(8 $%'$ $%17 /%'3) 2##
$%1 E4+B =4#(8 '++ '34*(B $%15<
c4* E1$ "%'$ 74*e31 +44@#(E 243< c4* 811 "%'$ 74*e31 =*331($+7
51'8*3#(E< /++ $%1 "%#+1K $%131 '31 #(8'(1K +#21Y=%'(E#(E 4DD43$*(#$#18
8#$$#(E #( 234($ 42 74*3 2'=1 1*-") '5<< O4+B =4#(8<
X%1 D340+15 243 74* '(B 51 #8 "1 B4(e$ 811 $%181 4DD43$*(#$#18< X4 811
$%1 "43+B B#22131($+7K '8@ B#22131($ W*18$#4(8<
j'$%13 $%'( '8@K U64" ='( A 5'@1 p]HHKHHH $%#8 71'3nV '8@K U64" ='( A
5'@1 p]HKHHHKHHH $%#8 71'3nV
噳($ W*18$#4(8 8D'3@ #((4,'$#,1 $%#(@#(E '(B (1" '(E+18<
987=%4+4E#8$ '(B 8D#3#$*'+ $1'=%13 &3< a'7(1 &713 8'#BK Ua%1( 74*
=%'(E1 $%1 "'7 74* 811 $%#(E8K $%1 $%#(E8 74* 811 =%'(E1<V^` a%1( 74*
=%'(E1 "%'$ 74*e31 +44@#(E 243K 74* =%'(E1 "%'$ 74* 811<
X3'B1 #('$$1($#4('+ 0+#(B(188 243 81+1=$#,1 '$$1($#4(< C+'3#27 "%'$ 74*e31
+44@#(E 243K '(B 74*e++ 811 #$ 1,137"%131< a%'$ "'8 4(=1 %#BB1( #( D+'#(
8#E%$ "#++ 01=451 3'B#='++7 40,#4*8< c4* 811 "%'$ 74*e31 +44@#(E 243<
N'@1 74*3 ,#8#4( '08*3B+7 0#EE13 '(B 74*e++ #551B#'$1+7 811 D'$%"'78
$4 E1$ $%131< &'( )*++#,'( 8'#BK Uk*3 1718 4(+7 811 '(B 4*3 1'38 4(+7 %1'3
"%'$ 4*3 03'#( #8 +44@#(E 243<V
/ 5'88#,1 $%31'$ $4 74*3 b*$*31 )1+2 #8 8#5D+7 $%'$ 74*e31 $%#(@#(E "'7
$44 85'++< N*+$#D+7 74*3 ,#8#4( ]HY$#518 43 ]HHY$#518 +'3E13< c4*e++ 01
243=1B $4 *(B138$'(B $%1 D3#(=#D+18K 3*+18K '(B 8$3'$1E#18 42 +#,#(E '$ '
%#E%13 +1,1+< A(8$1'B 42 "43@#(E %'3B13K 1+1,'$1 "%'$ 74* $%#(@ 74* ='( B4<
/8 $%1 +'$1 'B,13$#8#(E +1E1(B 9'*+ /3B1( 8'#B:
c4* (11B $4 '#5 0174(B "%'$ 74* '31 ='D'0+1 42< c4* (11B $4
B1,1+4D ' =45D+1$1 B#831E'3B 243 "%131 74*3 '0#+#$#18 1(B< A2 74*
$%#(@ 74*e31 *('0+1 $4 "43@ 243 $%1 018$ =45D'(7 #( #$8 8D%131K 5'@1
$%'$ 74*3 '#5< A2 74* $%#(@ 74*e31 *('0+1 $4 01 4( $%1 =4,13 42 X#51
5'E'f#(1K 5'@1 #$ 74*3 0*8#(188 $4 01 $%131< N'@1 74*3 ,#8#4( 42
"%131 74* "'($ $4 01 ' 31'+#$7< R4$%#(E #8 #5D488#0+1<^_
87+ %& *5+ +'( @2%+%@ B'5 @5"*+&R *5+ +'( 6.* B'5 D5%*+& 5"+ '5B +'(
&+25*4 6.* &+"6#$(&: 52 B'(2( +'( )5(2 5A )(()& @5"$) '.C( )5*(
+'(6 #(++(2= 9'( @2()%+ #($5*4& +5 +'( 6.* B'5 %& .@+".$$/ %* +'(
.2(*.: B'5&( A.@( %& 6.22() #/ )"&+ .*) &B(.+ .*) #$55)R B'5
&+2%C(& C.$%.*+$/R B'5 (22&: B'5 @56(& &'52+ .4.%* .*) .4.%*:
#(@."&( +'(2( %& *5 (AA52+ B%+'5"+ (2252 .*) &'52+@56%*4R #"+ B'5
)5(& .@+".$$/ &+2%C( +5 )5 +'( )(()&R B'5 F*5B& 42(.+ (*+'"&%.&6&:
+'( 42(.+ )(C5+%5*&R B'5 &D(*)& '%6&($A %* . B52+'/ @."&(R B'5 .+
+'( #(&+ F*5B& %* +'( (*) +'( +2%"6D' 5A '%4' .@'%(C(6(*+: .*) B'5
.+ +'( B52&+: %A '( A.%$&: .+ $(.&+ A.%$& B'%$( ).2%*4 42(.+$/: &5 +'.+ '%&
D$.@( &'.$$ *(C(2 #( B%+' +'5&( @5$) .*) +%6%) &5"$& B'5 *(%+'(2
F*5B C%@+52/ *52 )(A(.+=>
TX%14B431 j4481,1+$
X%1 I1'$+18 =%'(E1B 5*8#= 2431,13 #( ' 31+'$#,1+7 03#12 $#51 8D'(K
0*38$#(E 4($4 $%1 8=1(1 #( ]Z_o "#$% B?#%2# B?#%2# V#6 '(B 31=43B#(E $%1#3
+'8$ '+0*58K F#) D) @# '(B .OO#C G5%(K #( ]Z_Z<
a%7 B#B $%1 548$ #(2+*1($#'+ 0'(B 42 $%1 GH$% =1($*37 031'@ *D "#$%#(
81,1( 71'38 42 31+1'8#(E $%1#3 2#38$ '+0*5n X%1 0'(B "'8 ' D%1(451('+
8*==188< X%17 01=451 E+40'+ #=4(8< X%17 5'B1 5#++#4(8 '(B 5#++#4(8 42
B4++'38<
a#$% 8*==188 =4518 #(=31'81B =45D+1d#$7<
a%1( $%1 I1'$+18 8$'3$1B 4*$ $4E1$%13K $%17 "131 0*BB#18 "3#$#(E '(B
D+'7#(E 84(E8< X%17 %'B ' 8#(E*+'3 24=*8 '(B '+#E(1B E4'+8< I*$ '8 $%17
01=451 8*==1882*+K $%1#3 8#$*'$#4( '(B E4'+8 01='51 5431 =45D+1d '(B
+188 *(#$1B< &#,#8#4(8 E31" "#$%#( $%1 E34*D<
A(=31'8#(E 1d$13('+ D'3$#18 %'B ,4#=1 '(B 8'7 #( "%'$ $%1 I1'$+18 8%4*+B
01 B4#(E< M1((4( '(B N=C'3$(17 =4*+B(e$ 811 171Y$4Y171 '04*$ %4" $4
5'('E1 $%1 E34*DK 18D1=#'++7 '2$13 $%1#3 0'(B 5'('E13K I3#'( QD8$1#(K B#1B
#( ]Z_[< &18D#$1 01#(E '3E*'0+7 $%1 018$ 0'(B 42 '++ $#51K $%1#3 4"(
8*==188K '(B '++ $%'$ ='51 "#$% 8*==188K 1,1($*'++7 +1B $4 $%1 B1'$% 42 $%1
I1'$+18<
X%1 81,1($% '(B 2#('+ $%31'$ $4 74*3 b*$*31 )1+2 #8K #($1318$#(E+7K
8*==188<
X%1 I1'$+18 '31 4(1 42 =4*($+188 1d'5D+18 42 $%#8 D%1(451(4( B*001B
24//#22 (*2#%2#K 43 U"%1( 8*==188 1'$8 #$81+2<V
)*==188 #8 B#22#=*+$ $4 %'(B+1< N48$ D14D+1 81+2YB18$3*=$ 4(=1 $%#(E8
8$'3$ E1$$#(E E44B< &3< O'7 61(B3#=@8 B1,1+4D1B ' =4(=1D$ %1 ='++8 U$%1
*DD13 +#5#$ D340+15KV "%#=% %1 *818 $4 1dD+'#( %4" 8*==188 ='( 0'=@2#31<
b345 61(B3#=@8e8 D138D1=$#,1K "1 '++ %',1 ' 8*0=4(8=#4*8 0'81+#(1 42
"%131 "1e31 =45243$'0+1K '(B "%1( "1 8*==11B #( 8451 '31' 42 4*3 +#,18K
"1 8*0=4(8=#4*8+7 81+2Y8'04$'E1 0'=@ $4 4*3 0'81+#(1< 61 B18=3#018:
A2 74*e,1 (1,13 %'B ' +4$ 42 54(17 '(B 74* 8$'3$ 5'@#(E E44B 54(17K
74* 5'7 8*0=4(8=#4*8+7 B4 8451$%#(E 8$*D#B $4 2+*8% '++ $%'$ (1" 54(17
B4"( $%1 B3'#(<
I1=45#(E 8*==1882*+ #( "%'$1,13 '31(' 74* =%4481 31W*#318 ' E31'$ B1'+
42 =+'3#$7K 24=*8K '(B ' +4(E13Y$135 =455#$51($ $4 74*3 b*$*31 )1+2< I7
=4($#(*'++7 #(,18$#(E '(B B1+#013'$1+7 D3'=$#=#(E $4"'3B 74*3 b*$*31 )1+2K
74* ='( 01=451 %#E%+7 8*==1882*+< c4* ='( =31'$1 B31'58 2'3 0174(B 74*3
#(#$#'+ =4(=1D$#4(<
64"1,13K "#$% E34"#(E 8*==188 =4518 E34"#(E =45D+1d#$7< A( $%1
01E#((#(EK 74* "131 J*8$ 24=*81B 4( 74*3 D'88#4( 43 =3'2$< I*$ $%1(K 84
5'(7 4$%13 4DD43$*(#$#18 2'3 0174(B $%1 +#21 42 74*3 243513 81+2 1($13 $%1
1W*'$#4( 8*=% '8 5'('E#(E 54(17K $#51K '(B @17 31+'$#4(8%#D8< Q'=%
B1=#8#4( 5*8$ 01 2#+$131B W*#=@+7 $4 ',4#B D'3'+78#8 07 '('+78#8<
/8 74*3 24=*8 '(B +4(EY$135 ,#8#4( '31 8W*11f1B 4*$ 07 8%43$Y$135
"#(8K $%1 43#E#('+ 8#(E*+'3 E4'+ 01=4518 5*BB+1B '(B B#8$3'=$1B< b+4" '(B
24=*8 B34"( #2 74* ='(e$ 5'('E1 '(B 2#+$13 =45D+1d#$7< a%'$ $3*+7 5'$$138
01=4518 %'3B13 $4 B#8=13( '8 74* "43@ %'3B13 0*$ (4 +4(E13 5'@1 $%1
5'88#,1 D34E3188 74* 4(=1 @(1"< /8 $#51 '(B '$$1($#4( 8D31'B $%#(K $%#8
+'=@ 42 =+'3#$7 '(B 24=*8 #(1,#$'0+7 +1'B8 $4 B4"(2'++<
/8 '*$%43 O31E N=?14"( 1dD+'#(8:
C*3#4*8+7K '(B 4,138$'$#(E $%1 D4#($ #( 43B13 $4 5'@1 #$K 8*==188 #8 '
='$'+78$ 243 2'#+*31<`o
/*$%43 '(B D%#+484D%13 j4013$ I3'*+$ 8'#BK Ua1 '31 @1D$ 2345 4*3 E4'+
(4$ 07 408$'=+18K 0*$ 07 ' =+1'3 D'$% $4 ' +18813 E4'+<V`^ X%1 5431
8*==1882*+ 74* 01=451K $%1 5431 +18813 E4'+8 D3181($ $%1581+,18< X%1
5431 4DD43$*(#$#18 '(B W*#=@ "#(8 =451 74*3 "'7K $%1 E31'$13 $%1 (11B $4
=4($#(*'++7 *DB'$1 74*3 ,#8#4( $4 2#+$13 4*$ $%1 ZZ D13=1($ 42 (4(1881($#'+
$3'D8 $4 74*3 1(13E7 '(B 24=*8<
I1=45#(E 8*==1882*+ '$ "%'$ 74* B4 #8 2'3 +188 B#22#=*+$ $%'(
5'#($'#(#(E '(B 1dD'(B#(E $%'$ 8*==188< A( $%1 2#1+B 42 8D43$8K $1'58 $%'$
31'=% $%1 $4D 3'31+7 31D1'$ '8 =%'5D#4(8< C45D+'=1($ 01='*81 $%17e,1
'=%#1,1B $%1#3 E4'+K $%1#3 24=*8 8%#2$8< )*==188 03#(E8 4DD43$*(#$7 '(B
B#8$3'=$#4(K '(B D+'7138 8$4D D*$$#(E #( $%1 24=*81B "43@ '(B B1+#013'$1
D3'=$#=1 (11B1B $4 01 '$ $%1 $4D<
a%1( $%#(E8 '31 E4#(E "1++K #$e8 '+84 1'87 $4 E1$ 842$ '(B +'f7< c4* 8$4D
$%1 B#8=#D+#(18 $%'$ E4$ 74* "%131 74*e31 '$< A( $%1 (4,1+ !"52# :"5
G#>%*'+ . B52)%&5/%?C&)*/ ;50#?K '*$%43 O< N#=%'1+ 64D2 "34$1:
6'3B $#518 =31'$1 8$34(E 51(< )$34(E 51( =31'$1 E44B $#518< O44B
$#518 =31'$1 "1'@ 51(< /(BK "1'@ 51( =31'$1 %'3B $#518<``
/8 $#518 E1$ E44BK D14D+1 01=451 +188 24=*81B '(B +188 =455#$$1B<
X%17 8$4D %',#(E ' 0#EE13 b*$*31 )1+2 $%17e31 B3#,#(E $4"'3B< X%17 E1$
8$*=@ #( 8%43$Y$135 B4D'5#(1 +44D8< X%1#3 '=$#4(8 '(B 01%',#438 +1'B $4
*((1=188'37 0'B $#518< X%1 +'" 42 $%1 %'3,18$< c4* 31'D "%'$ 74* 84"<
k( ' E+40'+ 8='+1K 1,137 E31'$ ('$#4( 43 15D#31 $%'$ %'8 1,13 1d#8$1B
1,1($*'++7 21++< )*==188 +1B $4 2'#+*31< b'51B %#8$43#'(8 a#++ '(B /3#1+
&*3'($ 8*55'3#f1B $%1 3#81 '(B 2'++ 42 ('$#4(8 #( $%1 044@ !"# F#225'2 58
,*2)51C<`_ 6*5'( =#,#+#f'$#4( %'8 E4(1 $%34*E% $%311 =431 8$'E18:
]< 6*($#(E
G< /E3#=*+$*31
o< A(B*8$37
61',1( '(B *$4D#' '31 0*=@1$8 #( ' "1++: "%1( 4(1 E418 B4"( $%1
4$%13 E418 *DS "%1( 31+#E#4( B1=+#(18 C455*(#85 E34"8<V
X%1 &*3'($8 01+#1,1 $%'$ /513#='K $%1 "43+Be8 =*331($ 8*D13D4"13K "#++
1,1($*'++7 =3*50+1 243 $%1 8'51 31'84(8 D31,#4*8 15D#318 2'#+1B<
j'7 &'+#4K $%1 /513#='( 0#++#4('#31 '(B %1BE1 2*(B 5'('E13K %'8 '
8+#E%$+7 5431 (*'(=1B D138D1=$#,1< A( &'+#4e8 044@ B1*'/*&?#2 851 I#%?*'-
<*)" )"# 7"%'-*'- :51?( _1(#1+ :"C ;%)*5'2 94//##( %'( =%*?K %1 +'78
4*$ $%1 =431 31'84(8 ' 84=#1$7 2'#+8<`[ P*8$ +#@1 ' 0*8#(188K "%1( ' ('$#4(
$'@18 4( 1d$3151 +1,1+8 42 B10$K 01=4518 +188 D34B*=$#,1K '(B #8 3#BB+1B
"#$% #($13('+ B#,#8#4(K #$ #8 D4#81B 243 ' =4++'D81<
&18D#$1 8$#++ 01#(E #(=31B#0+7 8$34(EK &'+#4 8118 /513#=' =%1=@#(E 5'(7
42 $%1 "34(E 04d18<
)*==188 ='( 01 %'3B $4 %'(B+1 243 #(B#,#B*'+8K $1'58K 43E'(#f'$#4(8K '(B
('$#4(8< I1=45#(E 8*==1882*+ #8 4(1 $%#(EK 0*$ 1dD'(B#(E $%'$ 8*==188 #8
8451$%#(E 1($#31+7 B#22131($< c4* 5'7 1,1( E1$ +'d '8 $%#(E8 8$'3$ E1$$#(E
E44B<
a%7 8%4*+B $%#8 5'$$13 $4 74*n
A2 74* E1$ =+1'3 4( 74*3 b*$*31 )1+2K '(B #(,18$ 8D1=#2#='++7 $4"'3B 74*3
b*$*31 )1+2K 74* "#++ 01=451 #(=31B#0+7 8*==1882*+< c4*e++ 1dD13#1(=1 $%1
=45D4*(B 1221=$ #( @(4"+1BE1K 8@#++8K 54(17K '(B 31+'$#4(8%#D8< I*$ "#$%
$%#8 #(=31'81 #( 8*==188K 74* "#++ 2'=1 8*3D3#8#(E =45D+1d#$7<
X4 E*'3B 'E'#(8$ =4++'D81 31W*#318 =+'3#27#(E 74*3 b*$*31 )1+2 '$ 1'=%
8*==11B#(E 8$'E1< )*==188 0311B8 ' 0'33'E1 42 B#8$3'=$#4(8 '(B +18813 E4'+8<
a#$%4*$ 315'#(#(E =+1'3 4( "%'$ $3*+7 5'$$138K 74*e++ 01=451 #($13('++7
B#,#B1B 4( "%'$ 74*e31 =455#$$1B $4< /8 $%1 I#0+1 8$'$18K U/ B4*0+1
5#(B1B 5'( #8 *(8$'0+1 #( '++ %#8 "'78<V`\
)*==188 #8 ' 5'88#,1 $%31'$ $4 74*3 b*$*31 )1+2<
!"#!.*&'"#
8G'.+ 6.* .@+".$$/ *(()& %& *5+ . +(*&%5*$(&& &+.+( #"+ 2.+'(2 +'(
&+2%C%*4 .*) &+2"44$%*4 A52 . B52+'B'%$( 45.$: . A2(($/ @'5&(* +.&F=
G'.+ '( *(()& %& *5+ +'( )%&@'.24( 5A +(*&%5* .+ .*/ @5&+ #"+ +'(
@.$$ 5A . D5+(*+%.$ 6(.*%*4 B.%+%*4 +5 #( A"$A%$$() #/ '%6=>
Tm#@$43 b3'(@+]
b13B#('(B N'3=48 "'8 ' ,137 E44B +#'3<
k( &1=15013 oHK ]Z_`K %1 01='51 $%1 ]H$% D318#B1($ 42 $%1 9%#+#DD#(18
07 =+'#5#(E $4 01 $%1 U548$ B1=43'$1B "'3 %134 #( '++ 42 $%1 9%#+#DD#(18<V
k(=1 D318#B1($K N'3=48 D*38*1B '( 'EE3188#,1 D34E3'5 42 #(23'8$3*=$*31
B1,1+4D51($ $%34*E%4*$ $%1 9%#+#DD#(18K 0*#+B#(E (1" 34'B8K 8=%44+8K '(B
4$%13 =45D+1d18 2*(B1B 07 2431#E( B10$< 6#8 1d$3151 8D1(B#(E #(#$#'++7
"4( %#5 D4D*+'3#$7<
&*3#(E %#8 81=4(B $135K N'3=48e8 8D1(B#(E '(B B10$ '==*5*+'$#4(
8(4"0'++1B #($4 '( #(2+'$#4( =3#8#8< X%1 9%#+#DD#(1 1=4(457 D+*551$1BK
'(B 84=#'+ *(318$ $%31'$1(1B<
N'3=48 B#B(e$ ='31 $%'$ %#8 D14D+1 8*22131B< &*3#(E %#8 D318#B1(=7K %1
'(B %#8 2'5#+7 1(J471B ' +',#8% +#218$7+1 2*(B1B 07 54(17 8$4++1( 2345 $%1
C1($3'+ I'(@ 42 $%1 9%#+#DD#(18< $4*''#22 '"'3B1B $%1 N'3=48 2'5#+7 $%1
"43+B 31=43B 243 $%1 +'3E18$Y1,13 $%12$ 2345 ' E4,13(51($: '( 18$#5'$1B `
$4 ]H 0#++#4( B4++'38<G
/8 D318#B1($K N'3=48 #(,18$1B '08*3B '54*($8 42 54(17 #($4 %#8
5#+#$'37K (4$ $4 D34$1=$ %#8 D14D+1 2345 2431#E( #(,'B138K 0*$ $4 =4($34+ '(B
D*(#8% '(74(1 "%4 B#B(e$ 24++4" %#8 8$3#=$ +'"8<
&*3#(E N'3=48e8 31#E(K $%1 9%#+#DD#(18 21++ B11D+7 #( B10$< )4=#'++7 '(B
543'++7 =433*D$K $%1 ('$#4( "'8 8D+#$ 07 #($13('+ B#,#8#4( '(B 8$3#21<
N'(7 "'($1B $4 4,13$%34" $%1 E4,13(51($K #(=+*B#(E ' 74*(E '(B
3#8#(E D4+#$#=#'( ('51B I1(#E(4 !UR#(47V- /W*#(4 P3< I43( #($4 ' D4+#$#='+
2'5#+7K R#(47 "'8 1+1=$1B 5'743 #( ]Z`` "%1( %1 "'8 4(+7 Go 71'38 4+B<
b#,1 71'38 +'$13K '$ 'E1 G[K %1 01='51 $%1 ('$#4(e8 74*(E18$ ,#=1 E4,13(43<
/ 2'5#+7 5'(K #( ]Z`^ %1 5'33#1B C43'f4( !UC437V- )*5*+4(E
C4J*'(E=4K ' "1++Y1B*='$1B C'$%4+#= "45'( 2345 '( '22+*1($ b#+#D#(4
2'5#+7< &*3#(E R#(47e8 3#8#(E ='3113K C437 D3#5'3#+7 24=*81B 4( 3'#8#(E
$%1#3 E34"#(E 2'5#+7 42 2#,1 =%#+B31(K 8*DD43$#(E %13 %*80'(Be8 ='3113K '(B
42213#(E E31'$ "#8B45 #( %#8 B1=#8#4(Y5'@#(E<
A( ]Z_\K B*3#(E %#8 2#38$ 71'3 '8 81('$43K R#(47 '==*81B N'3=48 42
=433*D$#4( '(B 18$'0+#8%#(E ' E'33#84( 8$'$1 07 0'++44(#(E $%1 '351B 243=18
0*BE1$< R#(47 04+B+7 =3#$#=#f1B $%1 D318#B1($ '(B %#8 "#21K A51+B'K 243
$%1#3 1d$3','E'($ +#218$7+18 '(B 23'*B<
R#(47e8 24++4"#(E E31" '(B %1 01='51 $%1 +1'B#(E ='(B#B'$1 $4 31D+'=1
N'3=48 '8 D318#B1($ #( $%1 ]Z[] 1+1=$#4(8< 6#8 "%7 "'8 8$34(E< 61
1(,#8#4(1B ' 9%#+#DD#(18 =%'3'=$13#f1B 07 B154=3'=7 '(B 2311B45K 543'+
+'"8K E44B +1'B138%#DK '(B ' D14D+1 *(#$1B '(B '0*(B'($<
k( /*E*8$ G]K ]Z[]K $%131 "'8 ' @#=@422 3'++7 243 $%1 M#013'+ 9'3$7 "#$%
=34"B8 =%113#(E '(B 0'(B8 D+'7#(E< )*BB1(+7K $"4 04508 1dD+4B1BK
@#++#(E \ D14D+1 '(B =3#$#='++7 "4*(B#(E ]GH 4$%138< R#(47 "'8 (4$ D3181($
'$ $%1 3'++7K B18D#$1 01#(E $%1 M#013'+ ='(B#B'$1K '(B N'3=48 =+'#51B
R#(47 43=%18$3'$1B $%1 0450#(E<
X%#8 1,1($ 8D'3@1B ' =%'#( 42 D4+#$#='+ '(B 84=#'+ *(318$ 4,13 $%1 (1d$
71'3< N'3=48 *81B $%1 E34"#(E =%'48 '8 '( 4DD43$*(#$7 $4 2*3$%13 %#8 '#58<
61 "'8 0'331B 07 $%1 ]Zo` C4(8$#$*$#4( $4 811@ ' $%#3B D318#B1($#'+ $135K
0*$ 4( )1D$15013 G]K ]Z[GK %1 B1=+'31B 5'3$#'+ +'"< )%43$+7 $%131'2$13K %1
'04+#8%1B $%1 1d#8$#(E =4(8$#$*$#4(K '++4"#(E %#581+2 $4 315'#( #( 422#=1<
;(B13 5'3$#'+ +'"K N'3=48 #551B#'$1+7 '3318$1B R#(47 '(B 81($1(=1B
%#5 $4 B1'$%< R#(47 8D1($ $%1 (1d$ 1#E%$ 71'38 #( D3#84( '"'#$#(E %#8 $3#'+<
A84+'$1BK C437 3'#81B %13 2#,1 =%#+B31( '+4(1<
/2$13 (1'3+7 8#d 71'38 #( D3#84(K R#(47 315'#(1B =455#$$1B $4 $%1
B154=3'=7 42 %#8 =4*($37< 61 B#B ' %*(E13 8$3#@1K "%#=% (1'3+7 @#++1B %#5K
'(B #( ]Z[\ 3'( 243 D318#B1($ 2345 %#8 D3#84( =1++<
A( 5#BYN'3=% ]Z\HK R#(47 8*22131B ' 81,131 %1'3$ '$$'=@< 61 "'8
$3'(8D43$1B 2345 D3#84( $4 $%1 9%#+#DD#(1 61'3$ C1($13K "%131 %1 8*22131B
' 81=4(B %1'3$ '$$'=@< &18D#$1 QCO $18$8 $%'$ 8%4"1B ' 0+4=@1B '3$137K
9%#+#DD#(1 8*3E14(8 "131 31+*=$'($ $4 D132435 $%1 =434('37 07D'88< R4 4(1
"'($1B $4 E#,1 N'3=48 ' 31'84( $4 31$'+#'$1<
b1'3#(E $'5D13#(E 07 N'3=48K R#(47 312*81B $4 %',1 9%#+#DD#(1 B4=$438
$31'$ %#5< 6#8 31W*18$ $4 $3',1+ $4 $%1 ;(#$1B )$'$18 "#$% %#8 2'5#+7 243 $%1
8*3E137 "'8 E3'($1BK =4(B#$#4('+ $%'$ %1 #551B#'$1+7 31$*3( 4(=1 %1'+$%7
'(B 8'7 '084+*$1+7 (4$%#(E (1E'$#,1 '04*$ N'3=48 "%#+1 '034'B<
R#(47 31=4,131B W*#=@+7 '(B 31(4*(=1B $%1 'E31151($ %1 5'B1 "#$%
N'3=48K 8'7#(EK U' D'=$ "#$% $%1 B1,#+ #8 (4 D'=$ '$ '++<V &*3#(E $%1 (1d$
$%311 71'38T2345 ]Z\H $4 ]Z\oTR#(47K C437K '(B $%1#3 =%#+B31( +#,1B #(
I48$4(< X4 8*DD43$ %#8 2'5#+7K R#(47 "34$1 $"4 044@8 '(B +1=$*31B
('$#4("#B1 "%#+1 +#,#(E 4( 21++4"8%#D E3'($8 2345 6'3,'3B ;(#,138#$7<
A( 1'3+7 ]Z\oK R#(47 +1'3(1B 42 $%1 B1$13#43'$#(E D4+#$#='+ 8#$*'$#4( 0'=@
%451K '8 "1++ '8 42 N'3=48e8 2'#+#(E %1'+$%< 61 21+$ =45D1++1B $4 31$*3(
'(B 8D1'@ $4 N'3=48 '04*$ 31$*3(#(E $%1 =4*($37 $4 B154=3'=7 012431
1d$315#8$8 $44@ 4,13< R#(47 @(1" 31$*3(#(E $4 $%1 9%#+#DD#(18 =4*+B =48$
%#5 %#8 +#21<
N'3$#( M*$%13 ?#(EK P3< 8'#BK UA2 ' 5'( %'8(e$ 24*(B 8451$%#(E %1 "#++
B#1 243K %1 #8(e$ 2#$ $4 +#,1<V
A($13('$#4('+ '#3+#(18 "131 "'3(1B $%'$ $%17eB 01 B1(#1B +'(B#(E 3#E%$8
'(B 243=1B $4 31$*3( #2 $%17 '$$15D$1B $4 2+7 R#(47 0'=@ $4 $%1 9%#+#DD#(18<
I'331B 2345 1($13#(E $%1 9%#+#DD#(18K R#(47 81=*31B ' 2'@1 D'88D43$ 2345
' 81D'3'$#8$ E34*D 4DD48#(E N'3=48< X%34*E% ' 813#18 42 D31='3#4*8 2+#E%$8K
R#(47 +'(B1B #( $%1 9%#+#DD#(18 4( /*E*8$ G]K ]Z\o<
)1(8#(E %#8 4"( B445K %1 "431 ' 0*++1$D3442 ,18$ '(B $4+B $%1
J4*3('+#8$8 '==45D'(7#(E %#5 4( $%1 2+#E%$:
c4* %',1 $4 01 ,137 31'B7 "#$% 74*3 %'(B ='513' 01='*81 $%#8
'=$#4( ='( 01=451 ,137 2'8$< A( ' 5'$$13 42 ' $%311 43 24*3 5#(*$18 #$
=4*+B 01 '++ 4,13K '(B t+'*E%#(Eu A 5'7 (4$ 01 '0+1 $4 $'+@ $4 74*
'E'#( '2$13 $%#8<
k(=1 $%1 D+'(1 +'(B1B '$ N'(#+' A($13('$#4('+ /#3D43$K R#(47 8$1DD1B
4*$ 4($4 $%1 8$'#3='81 +1'B#(E $4 $%1 $'35'= '(B "'8 #551B#'$1+7 8%4$ #(
$%1 %1'B '(B @#++1B< R#(47e8 '88'88#('$#4( "'8 ' $#DD#(E D4#($ 243 $%1
('$#4(K '(B E'+,'(#f1B ' 8*3E1 42 4DD48#$#4(K D34$18$K '(B B#8=4($1($
'E'#(8$ $%1 N'3=48 E4,13(51($<
X1( B'78 '2$13 %#8 B1'$%K 4( /*E*8$ o]K ]Z\oK R#(47e8 2*(13'+ 5'88 "'8
%1+B '$ )'($4 &45#(E4 C%*3=% #( )'($' N18' 61#E%$8K w*1f4( C#$7<
R#(47e8 54$%13K /*343'K $4+B $%1 2*(13'+ D'3+43 (4$ $4 5'@1 *D 43 150'+5
%#8 04B7K 84 1,1374(1 =4*+B 811 U"%'$ $%17 B#B $4 57 84(<V N431 $%'( $"4
5#++#4( D14D+1 +#(1B $%1 8$311$8 243 $%1 D34=188#4(<
X%1 J*37 '=W*#$$1B '++ G_ B121(B'($8 #(,4+,1B #( $%1 5*3B13 42 C437e8
%*80'(B< &18D#$1 8$'7#(E 4*$ 42 $%1 +#51+#E%$K $%#8 "'8 %13 5451($ 42
B1=#8#4(< A( $%1 "43B8 42 $%1 %#8$43#'( a#++ &*3'($K UX%1 '0#+#$7 42 $%1
',13'E1 tD1384(u =4*+B 01 B4*0+1BK #2 $%1 8#$*'$#4( B15'(B1B #$<Vo
C437 =455#$$1B $4 4,13$%34" $%1 N'3=48 31E#51 '(B 318$431 B154=3'=7
$4 $%1 9%#+#DD#(18< X%1 81+2YB18=3#01B %4*81"#21 01='51 $%1 2#E*31%1'B 42
$%1 '($#YN'3=48 54,151($<
A( $%1 +1'BY*D $4 $%1 ]Z\_ D318#B1($#'+ 1+1=$#4(K '(B 81(8#(E $%1 E34"#(E
5451($*5 'E'#(8$ %#5K N'3=48 8*BB1(+7 '((4*(=1B 8('D 1+1=$#4(8< /
D1$#$#4( W*#=@+7 8D31'B *3E#(E C437 $4 3*( 243 D318#B1($< A( 318D4(81 $4 $%1
5#++#4(8 "%4 8#E(1B $%1 D1$#$#4(K C437 '((4*(=1B %13 ='(B#B'=7 4(
&1=15013 oK ]Z\`<
&*3#(E %#8 ='5D'#E(K N'3=48 ,#=#4*8+7 '$$'=@1B C437K 8'7#(E 8%1 "'8
UJ*8$ ' "45'(V "%4 %'B (4 1dD13#1(=1<
C437 318D4(B1B ='+5+7:
/2$13 $%311 71'38 #( 6'"'##K N'3=48 B#1B 42 @#B(17K %1'3$K '(B +*(E
'#+51($8K ][ B'78 '2$13 %#8 [G(B 0#3$%B'7<
&*3#(E $%1#3 $#51 #( 6'"'##K %1 '(B A51+B' +#,1B #( ' +*d*3#4*8 %4*81 #(
N'@#@# 61#E%$8< X%17 "131 @(4"( "43+B"#B1 243 %48$#(E =48$+7 D'3$#18
"%#+1 0'=@ #( $%1 9%#+#DD#(18 $%1 D14D+1 8*22131B *(B13 $%1 B10$ $%1
N'3=48 2'5#+7 %'B #(=*331B B*3#(E $%1#3 3*+1<
/8 D318#B1($ 2345 ]Z\_ $4 ]ZZGK C437 /W*#(4 4,138'" $%1 B3'2$#(E 42
$%1 ]Z\[ C4(8$#$*$#4(K "%#=% +#5#$1B $%1 D4"138 42 $%1 D318#B1(=7 '(B
3118$'0+#8%1B $%1 0#='513'+ C4(E3188K 8*==1882*++7 3154,#(E $%1 D31,#4*8
B#=$'$43#'+ E4,13(51($ 8$3*=$*31< /+$%4*E% *(D4D*+'3K 8%1 D'#B 422 5*=%
42 $%1 N'3=48e8 B10$8 $4 #5D34,1 2431#E( $3*8$ '(B 31+'$#4(8<
/$ $%1 1(B 42 %13 $135K 8%1 W*#1$+7 31$*3(1B $4 =#,#+#'( +#21< b4++4"#(E
%13 B1'$% 4( /*E*8$ ]K GHHZK 54(*51($8 '(B D*0+#= +'(B5'3@8 "131
('51B #( %13 %4(43 $%34*E%4*$ $%1 9%#+#DD#(18< ?(4"( #( %13 =4*($37 '8
$%1 V5)"#1 58 I#>5/1%/C6 C437 /W*#(4 %'B 01=451 %13 b*$*31 )1+2< )%1
%'B 2*+2#++1B %13 D*3D481<
X%131 '31 )1,1( X3*$%8 '04*$ 74*3 b*$*31 )1+2<
a1 '++ %',1 ' 2*$*31 '%1'B 42 *8< A( ]H 71'38K GH 71'38K '(B 5431K "1
"#++ 01=451 4*3 b*$*31 )1+,18<
X%1 W*18$#4( #8: a%4 "#++ 74*3 b*$*31 )1+2 01n
a%'$ +#21 "#++ 74* +#,1n
a%'$ "#++ 74* =455#$ 74*381+2 $4n
/8 C437 B#BK 74* "#++ 2#(B 74*3 b*$*31 )1+2 #8 42$1( 2'3 B#22131($ $%'(
74* 1dD1=$< C437 =4*+B %',1 (1,13 D31B#=$1B 8%1 "4*+B 8*==11B N'3=48 '8
$%1 2#38$ 215'+1 D318#B1($<
a1 '++ =%'(E1< M#21 1,1($8 =%'(E1 *8<
/E#(E =%'(E18 *8<
M1'3(#(EK 31+'$#4(8%#D8K 1dD13#1(=1K 8*==188K '(B 2'#+*31 =%'(E18 *8<
/8 74* +1'3( $%181 81,1( =431 $3*$%8K 74*e++ 01 1W*#DD1B $4 %'(B+1 $%1
=%'(E18 74*e++ 1dD13#1(=1 #( +#21< c4*e++ '+84 %',1 $%1 8@#++8 $4 =%4481 '(B
=31'$1 D34'=$#,1 =%'(E1 243 74*381+2 '(B 4$%138<
$(*$- < 1
c4* ='( 1dD1=$ $%1 2*$*31 $4 $'@1 ' B12#(#$1 2435 43 74* ='( $31'$ #$
'8 %'f#+7 *(=13$'#(< A2 74* $31'$ 74*3 2*$*31 '8 8451$%#(E B12#(#$1K #$
5'@18 81(81 $4 *(B138$'(B #$ #( 'B,'(=1 '(B $4 "43@ $4 8%'D1 #$< I*$
#2 74* 1dD1=$ '( #(B12#(#$1 2*$*31 3*+1B 07 3'(B45(188K 74* "#++ E#,1
*D $37#(E $4 5'8$13 #$<]]
A( $%1 54B13( 81+2Y%1+D "43+BK $%131 %'8 011( ' 8%#2$ 2345 B12#(#$1
'$$#$*B18 '04*$ $%1 2*$*31 $4 #(B12#(#$1 '$$#$*B18< j12+1=$1B #( $%#8 1$%48 #8 '
$31(B 'E'#(8$ #($1++#E1($ B18#E( '(B E4'+Y81$$#(E< X%1 =4554( '3E*51($8
'88*51 $%'$ 74* ='((4$ =4($34+ '(7 42 $%1 4*$=4518 #( 74*3 +#21K '(B
$%1312431 74* 8%4*+B #E(431 43 243E1$ $%15<
/+$%4*E% "1++ #($1($#4(1B '(B #($1++1=$*'++7 #($1318$#(EK $%1 'B,#=1 $4
243E1$ '04*$ E4'+8 #8 *+$#5'$1+7 B#8%4(18$< X%1 '*$%438 D3181($#(E $%181
,#1"8 B4(e$ 312+1=$ $%1#3 $1'=%#(E8 #( $%1#3 '=$#4(8< A$e8 #5D488#0+1 $4 +#,1
+#21 #( ' D*31+7 D34=188YB3#,1( '(B 878$15'$#= "'7 "#$%4*$ '(7 318D1=$ 243
4*$=4518<
X'@1 243 1d'5D+1 P'518 C+1'3K "%4 '3E*18 #( %#8 044@ .)5>*/ ,%O*)2
"1 8%4*+B U243E1$ '04*$ 81$$#(E E4'+8V '(B $%'$ U$3*1 +4(EY$135 $%#(@#(E #8
E4'+Y+188 $%#(@#(E<V]G c1$ "%1( '8@1B B#31=$+7K %1 *+$#5'$1+7 =4(=1B1B $%'$
E4'+8 '31 $%1 B3#,13< A( '( #($13,#1" 4( $%1 9/"55? 58 $1#%)'#22 D4B='8$K
M1"#8 64"18 '8@1B C+1'3K Ua%'$ '31 $%1 2#,1 (4(Y(1E4$#'0+1 %'0#$8 243
74*K 4( ' B'#+7 0'8#8nV $4 "%#=% C+1'3 '(8"131BK U)4K 40,#4*8+7 $%#8 #8
E4#(E $4 B1D1(B 4( 74*3 E4'+8KV '(B $%1( 8%'31B 8451 42 %#8 D1384('+
%'0#$8<]o 61 +'$13 "34$1 $%'$ UA2 74* E1(*#(1+7 ='31 '04*$ $%1 E4'+K 74*e++
24=*8 4( $%1 878$15<V]^
I1%',#43 01=4518 5431 #($1++#E1($ '8 #$ #8 #($1($#4('++7 B18#E(1B 243
1(B8<
Q#(8$1#( 8'#BK UA(8'(#$7 #8 B4#(E $%1 8'51 $%#(E 4,13 '(B 4,13 '(B
1dD1=$#(E ' B#22131($ 318*+$<V A2 74* =45D+1$1+7 #E(431 74*3 318*+$8K '(B
=4($#(*1 B4#(E 74*3 D34=188K %4" ='( 74* @(4" 74*3 D34=188 "43@8n c4*
=4*+B(e$<
Q,1( 2+4"K "%#=% 07 '++ '==4*($8 #8 ' $4$'+ '0843D$#4( #( $%1 D34=188K
31W*#318 =+1'3 E4'+8<]` /8 N#%'+7 C8#@8f1($5#%'+7#K $%1 +1'B 3181'3=%13
'(B 8=%4+'3 4( 2+4"K %'8 8'#BK
b+4" $1(B8 $4 4==*3 "%1( $%1 '=$#,#$7 4(1 1(E'E18 #( =4($'#(8 '
=+1'3 81$ 42 E4'+8< X%181 E4'+8 813,1 $4 'BB B#31=$#4( '(B D*3D481 $4
01%',#43<]_
&3< &'(#1+ O#+013$ #8 ' 6'3,'3B D87=%4+4E#8$ "%4 %'8 8$*B#1B $%1 b*$*31
)1+2 =4(=1D$ 243 (1'3+7 GH 71'38< A( GHH_K %1 D*0+#8%1B ' 044@ $#$+1B
9)4>O?*'- U&5' ,%&&*'#22K "%131#( %1 1dD+'#(8 %#8 3181'3=% $%'$ D14D+1
#5'E#(1 $%1 2*$*31 D443+7K 18D1=#'++7 $%1#3 ,#1" 42 "%'$ "#++ 5'@1 $%15
%'DD7<GH A( GH]^K %1 E',1 ' 5'#(8$'E1 XQ& X'+@ 1($#$+1B !"# B2C/"5?5-C
58 H541 =4)41# 9#?8<G]
O#+013$ %'8 ' *(#W*1 "'7 42 B#8=4,13#(E 133438 #( D14D+1e8 $%#(@#(E
31E'3B#(E $%1#3 b*$*31 )1+,18< UX%#(@ $1( 71'38 'E4KV O#+013$ 01E#(8< U/31
74* $4B'7 $%1 1d'=$ 8'51 D1384( 74* "131 $1( 71'38 'E4nV
C4(8#B13#(E "%4 $%17 "131K "%'$ $%1#3 +#,18 "131 +#@1K '(B "%'$ $%17
"131 24=*81B 4(K D14D+1 W*#=@+7 B#8=13( $%17e,1 =%'(E1B ' +4$ 4,13 $%1
D31,#4*8 B1='B1<
X%1#3 #($1318$8 '31 B#22131($<
X%1#3 D138D1=$#,18K ,'+*18K '(B =#3=*58$'(=18 =%'(E1B<
X%1#3 24=*8 '(B E4'+8 =%'(E1B<
A( 5'(7 #(8$'(=18K "%'$ "'8 #5D43$'($ $1( 71'38 'E4 #8 (4 +4(E13
31+1,'($ $4 "%4 $%17 '31 $4B'7<
/2$13 %',#(E D14D+1 1d'5#(1 $%1 B#22131(=18 01$"11( $%1#3 =*331($ '(B
243513 81+,18K O#+013$ '8@1B $%15 $4 $%#(@ '04*$ $%1#3 b*$*31 )1+2< U&4
74* $%#(@ 74*e++ 01 5*=% B#22131($ $1( 71'38 2345 (4"K 2345 "%4 74* '31
$4B'7nV
&18D#$1 '=@(4"+1BE#(E 5'J43 =%'(E18 #( $%1581+,18 4,13 $%1 D31,#4*8
]H 71'38K D14D+1 =4(8#8$1($+7 '88*51 4(+7 5#(43 =%'(E18 #( $%1581+,18
4,13 $%1 *D=45#(E B1='B1< O#+013$ 1dD+'#(8:
914D+1 $1(B $4 '88*51 $%'$ "%4 $%17 '31 3#E%$ (4" #8K 243 $%1 548$ D'3$K
$%1 2#(#8%1B ,138#4(< a1 211+ +#@1 "%4 "1 '31 (4" #8 "%4 "1 $3*+7 '31K '(B
"%4 "1e++ 548$+7 01< a1 5#E%$ =%'(E1 ' +#$$+1K 0*$ (4$ 5*=%< k*3 =*331($
81+2 #8 $%1 31'+ *8<
987=%4+4E#8$8 ='++ $%#8 $%1 #'(E58E"*2)51C *??42*5'WGoKG^ A$e8 $%1 01+#12
$%'$ 74*e,1 8*08$'($#'++7 =%'(E1B #( $%1 D'8$K 0*$ +#@1+7 "4(e$ =%'(E1
5*=% #( $%1 2*$*31< A$ #8 =4554( $4 '88*51 $%'$ 74*3 b*$*31 )1+2 "#++
548$+7 01 $%1 8'51 D1384( '8 74* '31 $4B'7< O#+013$ 1dD+'#(1B ' =431
31'84( 243 $%#8 #8 +#@1+7 B*1 $4 U$%1 1'81 42 31515013#(E '(B $%1 B#22#=*+$7
42 #5'E#(#(E<V /8 %1 =4($#(*18:
N48$ 42 *8 ='( 31515013 "%4 "1 "131 ]H 71'38 'E4K 0*$ "1 2#(B #$
%'3B $4 #5'E#(1 "%4 "1e31 E4#(E $4 01K '(B $%1( "1 5#8$'@1(+7 $%#(@
$%'$ 01='*81 #$e8 %'3B $4 #5'E#(1K #$e8 (4$ +#@1+7 $4 %'DD1(< )4337K
"%1( D14D+1 8'7K UA ='(e$ #5'E#(1 $%'$KV $%17e31 *8*'++7 $'+@#(E '04*$
$%1#3 4"( +'=@ 42 #5'E#('$#4(K '(B (4$ '04*$ $%1 *(+#@1+#%44B 42 $%1
1,1($ $%'$ $%17e31 B18=3#0#(E<
/(4$%13 $135 243 $%1 01+#12 $%'$ 74*3 =*331($ '(B b*$*31 )1+2 '31
1881($#'++7 $%1 8'51 D1384( #8 "%'$ 18$1151B D87=%4+4E#8$ &3< C'34+
&"1=@ ='++1B )"# 8*L#( >*'(2#)<G` /==43B#(E $4 &"1=@:
A( ' 2#d1B 5#(B81$K D14D+1 01+#1,1 $%1#3 0'8#= W*'+#$#18K +#@1 $%1#3
#($1++#E1(=1 43 $'+1($K '31 8#5D+7 2#d1B $3'#$8< X%17 8D1(B $%1#3 $#51
B4=*51($#(E $%1#3 #($1++#E1(=1 43 $'+1($ #(8$1'B 42 B1,1+4D#(E $%15<
914D+1 "#$% ' 2#d1B 5#(B81$ %',1 '( *$$13 +'=@ 42 #5'E#('$#4( '04*$
$%1581+,18< &*1 $4 $%1#3 +'=@ 42 =4(2#B1(=1K D14D+1 "#$% ' 2#d1B 5#(B81$
%',1 ' 23'E#+1 #B1($#$7K 31+1($+188+7 ',4#B#(E '(7 24358 42 2'#+*31< b345
$%1#3 2#d1B D138D1=$#,1K #2 $%17 2'#+K $%1( "%'$ 5*8$ $%'$ 2'#+*31 8'7 '04*$
$%15n
914D+1 "#$% ' 2#d1B 5#(B81$ 4,1315D%'8#f1 '(B 4,13+7 B12#(1 $%1#3
=*331($ 81+,18K 01+#1,#(E "%4 $%17 '31 (4" #8 $%1#3 =431 81+2< ;(=%'(E1'0+1
'(B #(('$1K $%1#3 #((13 B#'+4E*1 8$'$18K UX%#8 #8 "%4 A '5 '(B "%4 Ae5
'+"'78 E4#(E $4 01<V
&3< O#+013$e8 3181'3=% %#E%+#E%$8 $%'$ 548$ D14D+1 %',1 ' 2'#3+7 2#d1B
5#(B81$ '04*$ $%1581+,18< N48$ D14D+1 '88*51 $%1#3 b*$*31 )1+2 "4(e$ 01
5*=% B#22131($ 2345 $%1#3 =*331($ 81+2< A( 2'=$K #2 ' 8$3'(E13 =4*+B %',1 '
=4(,138'$#4( "#$% $%1 D1384( 74* "131 ]H 71'38 'E4K '(B $%1 D1384( 74*
'31 $4B'7K $%17eB 01 $'+@#(E $4 $"4 $4$'++7 B#22131($ D14D+1< c4*3 b*$*31
)1+2 "#++ 01 J*8$ '8 B#22131($<
9'7#(E $%1 D#D13 #8 ' D%3'81 $%'$ 51'(8 8*2213#(E $%1 =4(81W*1(=18 42
74*3 4"( 81+2Y#(B*+E1($ '=$#4(8< X%1 548$ '==1D$1B 43#E#( 42 $%#8 D%3'81 #8
$%1 +1E1(B B'$#(E 0'=@ $4 $%1 N#BB+1 /E18 42 $%1 9#1B 9#D13 42 6'51+#(<
X%1 =#$#f1(8 42 6'51+#( %'B ' D+'E*1 42 3'$8< a%1( $%1 9#1B 9#D13 422131B
$4 E1$ 3#B 42 $%15 243 ' 8*5 42 54(17K $%17 '==1D$1B %#8 42213<
a#$% %#8 D#D1K $%1 9#D13 +1B $%1 3'$8 '"'7K 0*$ $%1 =#$#f1(8 312*81B $4 D'7<
X4 D*(#8% $%15K $%1 9#D13 1($#=1B $%1#3 =%#+B31( '"'7 "#$% %#8 5*8#= '(B
#5D3#84(1B $%15 #( ' %#++ 2431,13<
X%1 D4#($ 42 $%#8 D'3'0+1n Q,137$%#(E 74* B4 %'8 ' =4(81W*1(=1 243
01$$13 43 "4381< Q,137$%#(E 74* B4 %'8 ' =45D4*(B#(E =4(81W*1(=1< c4*3
b*$*31 )1+2 #8 $%1 1d'EE13'$1B 318*+$ 42 74*3 =*331($ B1=#8#4(8<
A( 31'+#$7K $%1 9#1B 9#D13 *2 74*3 b*$*31 )1+2< X%1 9#1B 9#D13 <*?? 01 D'#B<
c4* ='(e$ 18='D1 74*3 b*$*31 )1+2< c4* ='(e$ 18='D1 D'7#(E $%1 9#D13<
X%1 4(+7 =%4#=1 74* %',1 #8K <"#' "#++ 74* D'7 $%1 9#D13K '(B "5< 5*=%n
/*$%43 P#5 j4%(K 8'#BK U=#D+#(1 "1#E%8 4*(=18 "%#+1 31E31$ "1#E%8
$4(8<V
=#D+#(1 =48$8 B4++'38< j1E31$ =48$8 5#++#4(8< X%#8 8'51 D3#(=#D+1
'DD+#18 $4 D'7#(E 74*3 b*$*31 )1+2<
A2 74* D'7 $%1 9#1B 9#D13 1,137 8#(E+1 B'7K 07 5'@#(E 85'++ '(B
=4(8#8$1($ *'0#2)>#')2K 74*e++ E1$ ' 5'88#,1 0'3E'#(< Q,137 $#51 74*
#(,18$ #( 74*3 b*$*31 )1+2K 74*e,1 (4$ 4(+7 D'#B $%15K 0*$ 74*e,1 #(,18$1B
#( $%15< I7 #(,18$#(E #( 74*3 b*$*31 )1+2K 74*3 b*$*31 )1+2 =4($#(*'++7
E1$8 0#EE13 '(B 01$$13<
X%1 31,1381 #8 $4 =4($#(*'++7 04334" 2345 74*3 b*$*31 )1+2K '(B "'#$
*($#+ 8451 2*$*31 $#51 $4 D'7 $%15 0'=@< / =48$ $4 74*3 b*$*31 )1+2 #8
'(7$%#(E $%'$ %'8 5431 B4"(8#B18 $%'( *D8#B18< O1(13'++7K ' =48$ #8 8451
8%43$Y$135 31"'3B 43 #(B*+E1(=1 $%'$ %'8 (4 D48#$#,1 '2$131221=$8K '(B 42$1(
%'8 (1E'$#,1 =4(81W*1(=18<
j1'=$#,1 01%',#43 #8 *8*'++7 =48$+7<
X%1 5431 74* D*$ 74*3 b*$*31 )1+2 #( B10$ #( $1358 42 %1'+$%K +1'3(#(EK
2#('(=18K '(B $#51K $%1 5431 D'#(2*+ '(B =48$+7 "#++ 01 $%1 1,1($*'+ $4++<
X%131 "#++ 01 ' +4$ 42 #($1318$ $4 D'7 #2 74* =4($#(*'++7 '==3*1 B10$<
Q,137$%#(E 74* B4 ='( 01 ='$1E43#f1B '8 1#$%13 ' =48$ $4 43 '(
#(,18$51($ #( 74*3 b*$*31 )1+2<
C48$#(E 74*3 b*$*31 )1+2 51'(8 74*e31 5431 24=*81B 4( D3181($ 43
8%43$Y$135 31"'3B8 4,13 +4(EY$135 =4(81W*1(=18< C48$#(E 74*3 b*$*31 )1+2
51'(8 74*e31 =4(8*5#(E 2'3 5431 $%'( 74*e31 =31'$#(E<
Q,137 +#$$+1 '=$#4( 'BB8 *D< / =48$ 5'@18 74* +188 %1'+$%7 #( 8451 "'7K
"%1$%13 51($'++7K 154$#4('++7K 8D#3#$*'++7K 31+'$#4('++7K 43 D%78#='++7< A2
31D1'$1BK =48$8 5'@1 74* 2'$$13K +'f#13K %'f#13K '(B +188 =4((1=$1B< / =48$
#8 8451$%#(E $%'$ =4518 $4 =4($34+ 74*K 3'$%13 $%'( 74* =4($34++#(E #$<
A( $%1 ]ZZH8K $%1 =%#D =45D'(7 93#(E+18 %'B ' ='$=%Y+#(1 312131(=#(E
$%1#3 D4DY422 +#B8K Uk(=1 74* D4DK $%1 2*( B4(e$ 8$4DqV
C48$8 '31 %1',#+7 'BB#=$#,1< 6',1 74* 1,13 $3#1B J*8$ 1'$#(E 4(1 =%#Dn
A$e8 1881($#'++7 $43$*31< N48$ D14D+1K 4(=1 $%17 D4D 4D1( $%1 ='((#8$13 '(B
1'$ 4(1 =%#DK ='(e$ 8$4D<
X%1 8'51 #8 $3*1 42 '++ 5#(B+188 '(B =48$+7 01%',#43< k(=1 74* D4DK 74*
='(e$ 8$4D< b43 1d'5D+1K #2 74* 4D1( 74*3 D%4(1 $4 31'=$#,1+7 43 3'(B45+7
=%1=@ 8451 #(D*$K 74*e31 E4#(E $4 'BB#=$#,1+7 =4($#(*1 $%'$ 01%',#43
31D1'$1B+7 $%34*E%4*$ $%1 B'7<
94DK D4DK D4D<
C48$K =48$K =48$<
j1'=$#,1+7 4D1(#(E 74*3 85'3$D%4(1 '$ $%1 01E#((#(E 42 $%1 B'7 #8 '@#(
$4 E3'00#(E $%'$ 2#38$ =%#D< c4*e,1 J*8$ D*$ 74*381+2 #($4 =4(8*5D$#4(
54B1 '(B $%131 "#++ (1,13 01 1(4*E% $4 =4(8*51K 01='*81 $%1 31"'3B8 '31
84 8%43$Y+#,1B<
X4 811 $%1 8#$*'$#4( B#22131($+7K #5'E#(1 74*3 =1++ D%4(1 '8 ' =%#D $%'$ #8
5'@#(E 74*3 b*$*31 )1+2 2'$$13< Q,137 $#51 74* 1(E'E1 #( =48$+7 574D#=
B1=#8#4(Y5'@#(EK 31515013 $%'$ 74*e31 1'$#(E ' =%#D< k(=1 74* D4DK $%1
2*( B4(e$ 8$4D<
X%1 4DD48#$1 42 =48$#(E 74*3 b*$*31 )1+2 "#$% 8%43$Y$135 31"'3B8 #8
#(,18$#(E #( 74*3 b*$*31 )1+2< j'$%13 $%'( D*$$#(E 74*3 b*$*31 )1+2 #(
B11D13 B10$K 5'@1 74*3 b*$*31 )1+2 "1'+$%#13< C4($#(*'++7 D48#$#4( 74*3
b*$*31 )1+2 243 2311B45 42 $#51K 54(17K 31+'$#4(8%#D8K '(B 4,13'++ 81(81 42
D*3D481<
/( #(,18$51($ $4"'3B 74*3 b*$*31 )1+2 #8 '(7 =4(8=#4*8 '=$#4( 74*e31
5'@#(E $4"'3B =%481( E4'+8< Q,137 $#51 74* =4(8=#4*8+7 #(,18$ #(
8451$%#(E 8D1=#2#=K "%1$%13 +1'3(#(EK %1'+$%K 31+'$#4(8%#D8K 43 1dD13#1(=18K
74*3 b*$*31 )1+2 E34"8 5431 ='D'0+1K 2311K '(B 5'$*31<
Q,137 #(,18$51($ =45D4*(B8 4,13 $#51K 5'@#(E 74*3 b*$*31 )1+2
"1'+$%#13< X%1 1'3+#13 74* #(,18$K $%1 5431 74*3 b*$*31 )1+2 =45D4*(B8<
/+013$ Q#(8$1#( #8 '$$3#0*$1B "#$% 8'7#(E:
c1'%K 4(=1 "1 %'B '++ 42 4*3 54(17 #( $%1 8'51 #(,1($437 #$ "'8 '++
43 (4$%#(E< X%'$ 31'++7 8='31B 51K J*8$ @(4"#(E $%'$ #$ "'8 +#@1 B4 43
B#1< A %'B $4 81++ $%1 8%418< c4* =4*+B(e$ $*3( 0'=@S 74* =4*+B(e$ J*8$
E1$ 3#B 42 $%15 '(B E1$ ='8% 0'=@S 74* %'B $4 E4 243"'3B<
/2$13 $%'$K 4(=1 A 31'+#f1B $%'$ "1 "131 $3*+7 E4#(E '(B 1,137$%#(EK
#$ 31'++7 J*8$ 4D1(1B 51 *D $4 "%'$ A "'8 '0+1 $4 B4< /$ $%'$ D4#($K A
"'8 +#@1K 4@'7K A '=$*'++7 8$'3$1B ' =45D'(7< Ae,1 #(,18$1B #( #$K '(B
(4" A (11B $4 3*( $%#8 $%#(E< X%'$e8 "%1( A $%#(@ A 31'++7 8'" $%'$ A
"'8 3*((#(E $%1 =45D'(7< A$ 31'++7 =%'(E1B 57 +1'B138%#D 34+1 "#$%
57 D'3$(138<
c*$4 $%4*E%$ '04*$ "%7 %1 "'8 8$3*EE+#(E< 61 31'+#f1B %1 B#B $%1 8'51
$3#=@8 '8 $%1 /513#='( 8@'$104'3B138< X%131 "'8 (4$%#(E B#8$#(=$#,1 '04*$
%#8 8$7+1< 61 B1=#B1B $4 5'8$13 $%1 2*(B'51($'+8 42 8@'$104'3B#(E "#$%
*$$13 D31=#8#4( '(B =4(8#8$1(=7 0174(B $%1 +1,1+ '(74(1 %'B 5'8$131B
012431< 61 B1,1+4D1B %#8 4"( 8$7+1K '(B #(,1($1B $3#=@8 (4 4(1 1+81 B#B $4
8$'(B 4*$ #( =45D1$#$#4(8<
9'0+4 9#='884 8'#BK UM1'3( $%1 3*+18 +#@1 ' D34K 84 74* ='( 031'@ $%15
+#@1 '( '3$#8$<V
b345 GH]_ $4 GH]ZK c*$4 0+4=@1B 4*$ +18813 E4'+8 '(B E4$ +'813 24=*81B<
/8 %1 8$'$1B #( '( #($13,#1"K U64(18$+7K $%1 B'#+7 D3'=$#=1 %1+D1B 51 '
+4$<VoZ
c*$4 31='++1B %#8 ,#8#4( 42 %#8 b*$*31 )1+2 %1eB "3#$$1( #( %#8 1+151($'37
8=%44+ 71'3044@ U$4 01=451 $%1 018$ 8@'$104'3B13 #( $%1 "43+B<V^H X4
'==45D+#8% %#8 E4'+ 31W*#31B 01=45#(E ' 5'8$13 =3'2$85'( '8 '
8@'$104'3B13<
61 #(,18$1B %4*38 #5'E#(#(E #((4,'$#,1 $3#=@8 '(B D3'=$#=1B 1d1=*$#(E
$%1 21'$8 "#$% 8$7+1< a'$=%#(E c*$4 8@'$104'3B #8 ' ,#8*'+ 21'8$ 42 D3'=$#=1K
D31=#8#4(K '(B #($1++#E1($ B18#E(< X%1 $3#=@8 '31 D4+#8%1BK $1=%(#='+K '(B
D1324351B 81'5+188+7<
&*3#(E $%1 71'38 42 1d$3151 24=*8 '(B B1+#013'$1 D3'=$#=1K c*$4
=45D1$1B =4(8$'($+7< 61 8$'3$1B "#((#(EK '(B 8*3E1B 2345 '( *(@(4"(
8@'$13 $4 01=45#(E E+40'++7 2'54*8< 61 "1($ 2345 %',#(E '( ',13'E1
8@'$1 8$7+1 $4 8*==11B#(E '8 4(1 42 $%1 548$ 1+#$1 '(B *(#W*1 =4($18$
8@'$138<
61 "4( E4+B #( $%1 GH]Z x O'518 #( N#((184$' '(B 01='51 $%1 81=4(B
3'(@1B 8@'$104'3B13 #( $%1 "43+B< R1d$K %1 8%#2$1B %#8 24=*8 $4 $%1 GHGH
X4@74 k+75D#=8<
X%1 GHGH k+75D#=8 "4*+B 01 $%1 2#38$ $#51 $%'$ 8@'$104'3B#(E "4*+B 01
'( k+75D#= 8D43$< 64"1,13K B*1 $4 $%1 CkmA&Y]Z D'(B15#=K $%1
k+75D#=8 "131 D*8%1B $4 GHG]< c*$4 $44@ 'B,'($'E1 42 $%1 'BB#$#4('+ $#51
$4 $3'#( '(B #(,1($ (1" 34*$#(18<
/8 $%1 k+75D#=8 (1'31B #( P*+7 42 GHG]K c*$4 %'B ='D$*31B $%1 '$$1($#4(
42 $%1 1($#31 8@'$104'3B#(E "43+B< &18D#$1 01#(E 3'(@1B 81=4(B '(B $%1
*(B13B4E 01%#(B $%1 /513#='( 8@'$104'3B13K R7J'% 6*8$4(K "%1( $%1
=45D1$#$#4( 01E'( c*$4 81151B 2'3 5431 E34*(B1B $%'( 6*8$4(<
c*$4 "'8 34=@Y84+#B =4(8#8$1($<
6#8 $3#=@8 +44@1B B1='B18 '%1'B 42 $%1 4$%13 8@'$104'3B138<
6#8 8$7+1 "'8 D31=#81<
c*$4 "4( '(B 01='51 $%1 %451$4"( %134 243 03#(E#(E k+75D#= E4+B $4
%#8 =4*($37< a%'$ 5'B1 $%1 51B'+ 1,1( 5431 8D1=#'+ "'8 $%'$ c*$4 E31"
*D (1'3 $%1 /3#'@1 ;30'( )D43$8 9'3@K "%131 $%1 k+75D#= 1,1($8 "131
%1+B<
61eB 2*+2#++1B %#8 =%#+B%44B B31'5<
c*$4 8*==11B1B 01='*81 %1 =31'$1B "#$% 1d$3151 B1$'#+ '(B
=3'2$85'(8%#D< R4$ 4(+7 B#B %1 811 %#581+2 01=45#(E $%1 018$ #( $%1 "43+BK
0*$ %1 #(,1($1B $%1 548$ $1=%(#='+K =%'++1(E#(EK '(B 01'*$#2*+ D132435'(=1
811( 4( ' 8@'$104'3B<
6#8 E4'+ 8%'D1B %#8 D34=188< /(B %1 =455#$$1B $4 $%'$ D34=188 *($#+ %1
"4( k+75D#= O4+B<
X3*$% v^ #8 $%'$ $%1 B1$'#+ '(B ,#,#B(188 42 74*3 b*$*31 )1+2 B1$135#(18
74*3 '0#+#$7 $4 '=%#1,1 #$< X%1 5431 B1$'#+1B 74*3 b*$*31 )1+2K $%1 01$$13<
X%1 5431 51'8*3'0+1 '(B 8D1=#2#= 74*3 E4'+8 '(B 5#+18$4(18K $%1 5431
1221=$#,1 "#++ 01 74*3 D34=188 '(B D34E3188<
$(*$- < A
k(1 B'7 "%#+1 "'+@#(E "#$% %#8 545 $%34*E% a'8%#(E$4( )W*'31 9'3@
#( R1" c43@ C#$7K P48% a'#$f@#( (4$#=1B D14D+1 D+'7#(E =%188< k(+7 _
71'38 4+BK P48% 01='51 #551B#'$1+7 E3#DD1B 07 $%1 E'51<
61 D+'71B #( $%1 D'3@ "#$% $%1 8$311$ D+'7138K '(B '$ 'E1 [K "43@1B "#$%
%#8 2#38$ 2435'+ $1'=%13K I3*=1 9'(B4+2#(#< /$ 'E1 ]HK P48% 8'=3#2#=1B %#8
W*11( '(B 344@ #( 1d=%'(E1 243 ' =%1=@5'$1 8#d 54,18 +'$13 '(B %#8 2#38$
,#=$437 'E'#(8$ ' 5'8$13 3'(@1B D+'713K QB"'3B b3*5@#(<
/$ 'E1 ]`K %1 1'3(1B $%1 $#$+1 42 R'$#4('+ N'8$13K '(B '$ ]_ 01='51 '(
A($13('$#4('+ N'8$13<
A( ]Z\\K "%1( P48% "'8 ]G 71'38 4+BK %#8 2'$%13K b31B a'#$f@#(K
D*0+#8%1B ' 044@ '04*$ P48% ='++1B 9#%1/"*'- 851 @5OOC =*2/"#1< X%'$
8$437 01='51 ' 5'J43 54$#4( D#=$*31 2#+5 "%1( P48% "'8 ][ '(B '$ $%1 $4D
42 $%1 =%188 "43+B< X%4*E% =%188 #8 (4$ =4554(+7 ' 8D1=$'$43 8D43$K
=34"B8 $*3(1B 4*$ $4 "'$=% %#5 D+'7<
b43 P48%K $%1 2'(8 "131 B#8$3'=$#(EK '(B $%1 2'51 '(B D3188*31 $4 "#(
54*($1B< 61 +12$ /513#=' '(B =%188 $4 D*38*1 51B#$'$#4(K D%#+484D%7K '(B
$'# =%#< A( %#8 044@K !"# .1) 58 F#%1'*'-+ .' D''#1 N541'#C )5 _&)*>%?
B#1851>%'/#K P48% 8%'318 $%1 D3#(=#D+1 42 U#(,18$51($ #( +488V %1 'DD+#1B
$4 1,1($*'++7 01=451 $%1 GHH^ "43+B =%'5D#4( #( X'#J# 9*8% 6'(B8K '
=45D1$#$#,1 5'3$#'+ 2435 42 $'# =%#<^G
a%1( %1 2#38$ 24=*81B 4( 9*8% 6'(B8K P48% D34'=$#,1+7 $3'#(1B "#$%
4$%138 "%4 "131 5*+$#D+1 8@#++ +1,1+8 '%1'B 42 %#5< b43 P48%K U*'0#2)>#')
*' ?522V #8 UE#,#(E 74*381+2 $4 $%1 +1'3(#(E D34=188<V X%#8 51'(8 D*$$#(E
74*381+2 #( B#22#=*+$ 8#$*'$#4(8 $%'$ 243=1 74* $4 'B'D$< b'=#(E 74*3
"1'@(18818< /(B 8451$#518K +#$13'++7K *8#(E P48%e8 "43B8K E1$$#(E U$%34"(
'34*(B<V
b43 P48%K U#(,18$#(E #( +488V "'8 '( 1d$3151 2435 42 (#?*O#1%)#
&1%/)*/#< /==43B#(E $4 &3< /(B138 Q3#=884(K $%1 +1'B 3181'3=%13 4(
B1+#013'$1 D3'=$#=1 '(B 1dD13$ D132435'(=1K B1+#013'$1 D3'=$#=1 #8 51'($ $4
=4*($13 4*3 ('$*3'+ #(=+#('$#4( $4 B1,1+4D %'0#$8 43 U'*$45'$#=#$7KV "%#=%
#8 $%1 '0#+#$7 $4 D132435 ' $'8@ "#$%4*$ =4(8=#4*8 12243$<^o
b43 =13$'#( $'8@8 +#@1 $7#(E 4*3 8%418 '(B B3#,#(EK '*$45'$#=#$7 #8
2'($'8$#= 01='*81 #$ 23118 *D 4*3 5#(B $4 B4 4$%13 $%#(E8< 64"1,13K "%1( #$
=4518 $4 B1,1+4D#(E 8@#++8 '(B +1'3(#(EK '*$45'$#=#$7 #8 %4" 74* E1$ 8$*=@
'$ ' =13$'#( 8@#++ +1,1+K '(B 8+4"+7 B1=+#(1 4,13 $#51<^^
b43 1d'5D+1K 3181'3=% 8%4"8 $%'$ B4=$438 "%4 %',1 011( #( D3'=$#=1 243
GH 71'38 '31 *8*'++7 +188 8@#++1B $%'( $%17 "131 2318% 4*$ 42 51B#='+
8=%44+< X%181 4+B13 B4=$438 '31 8$*=@ #( %'0#$*'+ "'78 42 $%#(@#(E '(B
'=$#(EK '(B %',1(e$ *DB'$1B $%1#3 54B1+8 43 'DD34'=%18 243 71'38< j'$%13
$%'( %',#(E GH 71'38 42 1dD13#1(=1K $%17 42$1( %',1 ] 71'3 42 1dD13#1(=1
31D1'$1B GH $#518<^` /8 &3< Q3#=884( 8$'$1B:
a%1( %1 ='51 '$ 51K 57 "%4+1 04B7 03'=1B 243 #5D'=$< A %'B (4
#B1' %4" $4 2*(=$#4( 2345 31+'d'$#4( "%1( ' 231#E%$ $3'#( "'8
+1,1+#(E 51 2#2$7 $#518 ' (#E%$< A 21+$ +#@1 ' D*(=%#(E 0'E< I'8#='++7K A
%'B $"4 4D$#4(8TA =4*+B ',4#B Q,'( 43 E1$ 01'$ *D 1,137 =+'88< A
8D1($ 5'(7 54($%8 E1$$#(E 85'8%1B '34*(B 07 Q,'(K '(B 'B5#$$1B+7
#$ "'8 (4$ 1'87 $4 #(,18$ #( +488 "%1( A "'8 01#(E D*551+1B 'E'#(8$
"'++8< AeB +#5D %451 2345 D3'=$#=1<
a#$% $%#8 (4($3'B#$#4('+ 'DD34'=%K P48% "'8 2'#+#(E '$ $%1 +1,1+ 42 %#8
b*$*31 )1+2 3'$%13 $%'( 8*==11B#(E '$ $%1 +1,1+ 42 %#8 =*331($ 81+2< a%1(
E#,1( 2311 $3'#(#(E $#51K $%1 4$%13 8$*B1($8 #( N'8$13 C%1(e8 =+'88
D34'=$#,1+7 5'$=%1B $%1581+,18 "#$% D14D+1 '$ 43 01+4" $%1#3 4"( 8@#++
+1,1+< I1='*81 $%1 4$%13 8$*B1($8 "131(e$ D*3D4812*++7 D*$$#(E $%1581+,18
$%34*E% =4(8$'($ '(B D'#(2*+ 2'#+*31 +#@1 P48%K %1 'B,'(=1B 5*=% 2'8$13
$%'( %#8 D1138< 61 'B'D$1B *D $4 $%1 8@#++8 42 $%481 %1 $3'#(1B "#$%<
X%1 4$%13 8$*B1($8 "131(e$ "#++#(E $4 #(,18$ #( +488 $4 $%1 8'51 B1E311
'8 P48%< X%17 "131 =45243$'0+1 8*==11B#(E '$ $%1#3 =*331($ +1,1+ 3'$%13
$%'( 2'#+#(E '$ $%1#3 b*$*31 )1+2 +1,1+< /(B 243 E44B 31'84(< &1+#013'$1
D3'=$#=1K "%1( $'@1( 813#4*8+7K #8 1d$3151+7 D'#(2*+<
X4 2*++7 1(E'E1 #( B1+#013'$1 D3'=$#=1 #8 $4 %',1 '( #(=31'8#(E+7 =+1'3
D#=$*31 42 74*3 B18#31B b*$*31 )1+2< /8 &3< X%45'8 )*BB1(B432K &3<
N1+#88' I3#(*58K '(B &3< ?'(' A5*$'K $%311 42 $%1 $4D 3181'3=%138 4(
D348D1=$#4( '(B b*$*31 )1+2 8$'$1B:
k(+7 $%34*E% #5'E#(E ' b*$*31 )1+2 "#$% #5D34,1B 8@#++8 5'7 "1
01 '0+1 $4 54$#,'$1K D+'(K '(B 1d1=*$1 $%1 %4(#(E 42 8@#++8 $%34*E%
B1+#013'$1 D3'=$#=1<^[
P48% '+84 01+#1,18 #( $%1 #5D43$'(=1 42 01#(E =+1'3 4( "%'$ 74* "'($<
61 #8 =4(8#B131B 07 5'(7 $4 01 4(1 42 $%1 "43+Be8 +1'B#(E 1dD13$8 4(
+1'3(#(E '(B %#E% D132435'(=1< UAe,1 =451 $4 31'+#f1 $%'$ "%'$ Ae5 018$ '$
#8 (4$ X'# C%#K '(B #$ #8 (4$ =%188KV %1 8'#B< Ua%'$ Ae5 018$ '$ #8 $%1 '3$ 42
+1'3(#(E<V^\
/ =%#+B =%188 D34B#E7K P48% 01='51 ' "43+B =%'5D#4(< 61 '+84 01='51
"43+B =%'5D#4( #( $'# =%# '(B I3'f#+#'( P#* P#$8*< 61 $3'#(8 D14D+1 "%4 '31
"43+B =+'88 '$ "%'$ $%17 B4 $4 31'=% $%1 $4D 4(1 D13=1($ 42 $%1 $4D 4(1
D13=1($ 42 $%1#3 318D1=$#,1 2#1+B 43 '3$< /$ $%1 24*(B'$#4( 42 P48%e8 51$%4B8
'31 'DD34'=%18 243 31'+#f#(E 4(1e8 b*$*31 )1+2<
A( $"4 81D'3'$1 #($13,#1"8 "#$% X#5 b133#88 #( GHGH '(B GHG]K P48%
8D4@1 '$ +1(E$% '04*$ %#8 D34=188 42 D34'=$#,1+7 =4((1=$#(E "#$% '(B
E1$$#(E 'B,#=1 2345 %#8 4"( b*$*31 )1+2<^ZK`H /8 P48% 1dD+'#(8 #( $%1 GHGH
#($13,#1":
I1#(E =4((1=$1B "#$% %#8 b*$*31 )1+2 #8 "%'$ 1('0+18 P48% $4 =4($#(*'++7
#(,18$ #( +488< 61e8 =4((1=$1B $4 ' 5*=% 5431 1,4+,1B ,138#4( 42 %#581+2<
61e8 =455#$$1B $4 %#8 b*$*31 )1+2 5431 $%'( %#8 =*331($ =45243$< 61e8
'EE3188#,1 '04*$ 01=45#(E %#8 b*$*31 )1+2<
X%34*E%4*$ $%#8 044@K Ae,1 *81B $%1 "43B *'0#2)>#') $4 B18=3#01 '(7
#($1($#4('+ '=$ $4"'3B 74*3 B18#31B b*$*31 )1+2< P48%e8 *81 42 $%1 "43B
*'0#2)>#') "%1( B18=3#0#(E B1+#013'$1 D3'=$#=1 #8(e$ =4#(=#B1($'+< b43
P48%K *'0#2)>#') *' ?522 "'8 '==1+13'$1B B1+#013'$1 +1'3(#(E $4"'3B %#8
b*$*31 )1+2< A$ "'8 %#8 =455#$51($ $4 %#8 b*$*31 )1+2<
C455#$51($ $4 b*$*31 )1+2 51'(8 #(,18$#(E #( +488 43 2'#+*31 %131 '(B
(4" $4 '==1+13'$1 D34E3188< X%1 5431 "#++#(E 74* '31 $4 #(,18$ #(
5451($'37 +488 '(B D'#( B#31=$1B '$ ' E4'+K $%1 2'8$13 74*e++ 'B'D$ $4 $%1
+1,1+ 42 74*3 b*$*31 )1+2<
X3*$% v` #8 $%'$ 2'#+#(E '8 74*3 b*$*31 )1+2 #8 01$$13 $%'( 8*==11B#(E '8
74*3 =*331($ 81+2< X%#8 X3*$% D'#38 "#$% X%31'$ v_K $%'$ 01#(E 4*$8#B1 $%1
'31(' "#++ D31,1($ 74* 2345 +1'3(#(E '(B D34E3188#(E<
A$e8 74*3 =%4#=1 %4" B11D 74*e++ E4 #($4 $%1 '31('<
A$e8 74*3 =%4#=1 $%1 1d$1($ $4 "%#=% 74*e++ #(,18$ #( +488 '(B +1'3(#(E<
P48% 2#(#8%18 %#8 8$437 "#$% Q,'( 07 B18=3#0#(E $%1 318*+$ 42 %#8
=4($#(*4*8 #(,18$51($ #( +488:
I*$ $%1( ' =*3#4*8 $%#(E 01E'( $4 %'DD1(< b#38$K '8 A E4$ *81B $4
$'@#(E 8%4$8 2345 Q,'(K A 8$4DD1B 21'3#(E $%1 #5D'=$ < < < X%1( '8 A
01='51 5431 31+'d1B *(B13 2#31K Q,'( 81151B $4 8+4" B4"( #( 57
5#(B < < < X%131 ='51 ' 5451($ "%1( $%1 $'0+18 =+1'3+7 $*3(1B 243 51
'(B Q,'(< N7 $3'#(#(E %'B E4$$1( ,137 #($1(81 < < < Q,'( '(B A %'B(e$
"43@1B $4E1$%13 243 ' "%#+1 01='*81 %1 8$'3$1B ',4#B#(E 51 '8 A
#5D34,1B< I*$ $%#8 1,1(#(E N'8$13 C%1( D'#31B *8 4( $%1 5'$8< Q,'(
='51 '$ 51 +#@1 ' 0*++K '(B A #(8$#(=$#,1+7 ',4#B1B %#8 4(8+'*E%$ '(B
$%31" %#5 4( $%1 2+443< 61 E4$ 0'=@ *DK ='51 0'=@ '$ 51K '(B A $4881B
%#5 'E'#(< A "'8 8%4=@1B 07 %4" 1'87 #$ 21+$< /2$13 ' 21" 5#(*$18 42
$%#8 Q,'( 8'#B $%'$ %#8 244$ "'8 04$%13#(E %#5K '(B %1 ='++1B #$ '
(#E%$< a1 8%44@ %'(B8K '(B %1 "4*+B (1,13 "43@ "#$% 51 'E'#(<
A2 74* "'($ $4 01=451 74*3 B18#31B b*$*31 )1+2K D+'7 '$ $%1#3 +1,1+ '8
W*#=@+7 '8 D488#0+1< C455#$ '$ $%1 +1,1+ 42 74*3 b*$*31 )1+2< /B'D$ '$ $%1
+1,1+ 42 74*3 b*$*31 )1+2< c4*3 =*331($ 81+2 #8 =+1'3+7 (4$ $%131 71$K '(B "#++
$%1312431 (11B 813#4*8 $3'#(#(EK %*5#+#$7K '(B 211B0'=@<
914D+1 ('$*3'++7 ',4#B #(,18$#(E #( +488< A$e8 =45243$'0+1 B4#(E
8451$%#(E 74* ='( '+31'B7 B4< a#((#(E 211+8 E44B< I*$ #2 74* "'($ $4
'EE3188#,1+7 01=451 74*3 b*$*31 )1+2K $%1( #(,18$#(E #( +488 #8 %4" 74*
E1$ $%131<
$(*$- < B
&*3#(E $%1 71'38 +1'B#(E *D $4 '(B 1,1( B*3#(E a43+B a'3 AAK /B4+2
6#$+13 "'8 ' D'#($13<
A( %#8 ]ZG` '*$40#4E3'D%7 V#*' J%>&8K 6#$+13 B18=3#01B %4" %#8
=%#+B%44B B31'5 "'8 $4 01=451 ' D342188#4('+ '3$#8$<`^ A( ]ZH[K '$ 'E1 ]\K
6#$+13 $44@ %#8 #(%13#$'(=1 54(17T[HH @34(1(T'(B 54,1B $4 m#1((' $4
8$*B7 '(B 01=451 '( '3$#8$< &18D#$1 "43@#(E %'3B 243 71'38 4( %#8 =3'2$K %#8
B31'5 B'8%1B 01='*81 %1 2'#+1B $%1 1($3'(=1 1d'5 42 $%1 /='B157 42 b#(1
/3$8 m#1(('<
6#$+13e8 'DD+#='$#4( $4 $%1 '='B157 "'8 31J1=$1B #( ]ZH\ '(B 'E'#( #(
]ZHZ< A( %#8 2#38$ '$$15D$K %1 D'881B $%1 D31+#5#('37 D43$#4( 07 B3'"#(E
$"4 42 $%1 '88#E(1B #=4(#= 43 0#0+#='+ 8=1(18K #( $"4 8188#4(8 42 $%311 %4*38
1'=%< 64"1,13K %1 2'#+1B $%1 81=4(B D43$#4( 42 $%1 1d'5K "%131 1d'5#(138
31,#1"1B %#8 D31,#4*8+7 D31D'31B D43$24+#4< X%1 #(8$#$*$1 =4(8#B131B $%'$
%1 %'B 5431 $'+1($ #( '3=%#$1=$*31 $%'( #( D'#($#(E<
61 31=1#,1B $%1#3 31J1=$#4( '8 ' 81,131 0+4" '(B *+$#5'$1+7 $44@ %#8 +#21
#( ' B#22131($ B#31=$#4(< X4 W*4$1 )$1,1( 931882#1+B #( !"# :%1 58 .1):
c4* @(4"K 6#$+13 "'($1B $4 01 '( '3$#8$ < < < Q,13 811 4(1 42 %#8
D'#($#(E8n R1#$%13 %',1 A< j18#8$'(=1 01'$ %#5< C'++ #$ 4,138$'$151($
0*$ Ae++ 8'7 #$ '(7"'7: #$ "'8 1'8#13 243 6#$+13 $4 8$'3$ a43+B a'3 AA
$%'( #$ "'8 243 %#5 $4 2'=1 ' 0+'(@ 8W*'31 42 ='(,'8<``
a%'$ #2 6#$+13 %'B 24*(B '(4$%13 34*$1 $4 01=45#(E ' 8*==1882*+ '3$#8$n
a%'$ #2 %1 %'B(e$ E#,1( *D 4( %#8 B18#31B b*$*31 )1+2n
61 =4*+B(e$ %'(B+1 $%1 31J1=$#4( '(B 2'#+*31<
61 B#B(e$ %',1 $%1 %4D1 '(B D'$%"'78 $%#(@#(E $4 2#(B '(4$%13 "'7<
61 "'8 3#E#B<
/+$%4*E% %1 @1D$ D34B*=#(E '3$ $%34*E%4*$ %#8 +#21K #$ "'8 5431 42 '
B#8$3'=$#4( $%'( $%1 4(=1 B18#31B 24=*8 42 %#8 8*==188<
9"%(5< 7%1##1 #8 $%1 $135 *81B $4 B18=3#01 D14D+1 "%4 E4 4( '(
'+$13('$#,1 D'$% 2345 $%1#3 $3*1 B31'5 01='*81 $%17e,1 E#,1( *D 4(
$%1581+,18< X4 31W*4$1 j4013$ I3'*+$K Ua1 '31 @1D$ 2345 4*3 E4'+8 (4$ 07
408$'=+18K 0*$ 07 ' =+1'3 D'$% $4 ' +18813 E4'+<V
X%4*E% "1e31 $'+@#(E '04*$ 4(1 42 %#8$437e8 548$ ,#+1 5'B51(K 6#$+13e8
8$437 #8 '( 1d$3151 ,138#4( 42 5'(7K #2 (4$ 548$ D14D+1e8K +#,18<
9%#+484D%13K 1($31D31(1*3K "43+B $3',1+13K '(B "3#$13 &131@ )#,138
=%'5D#4(8 8$34(E 01+#128 '04*$ "%'$ #$ 51'(8 $4 01 24//#2284?< 61 01+#1,18
$%'$ #$ B418(e$ 5'$$13 %4" '==45D+#8%1B 74* 5'7 01K 74* ='((4$ 01
=4(8#B131B U' 8*==188V *(+188 74* '31 $3*1 $4 "%'$ 74* E1(*#(1+7 "'($ 43
01+#1,1< A( ' GH]` #($13,#1"K X#5 b133#88 '8@1BK Ua%1( 74* $%#(@ 42 $%1
"43B z8*==1882*+Ke "%4e8 $%1 2#38$ D1384( "%4 =4518 $4 5#(B '(B "%7nV`_
&131@ 318D4(B1B:
X%1 2#38$ '(8"13 $4 '(7 W*18$#4( #8(e$ 5*=% 2*( 01='*81 #$e8 J*8$
'*$45'$#=< a%'$e8 $%1 2#38$ D'#($#(E $%'$ =4518 $4 5#(Bn N4(' M#8'<
R'51 ' E1(#*8< Q#(8$1#(< a%4e8 ' =45D4813n N4f'3$< X%131e8 $%1
#(8$'($K *(=4(8=#4*8K '*$45'$#= $%#(@#(E '(B $%1( $%131e8 $%1 8+4"13K
=4(8=#4*8K 3'$#4('+K B1+#013'$1 $%#(@#(E< Ae5 31'++7K 31'++7 #($4 $%1
8+4"13 $%#(@#(EK 031'@#(E 57 '*$45'$#= 318D4(818 $4 $%1 $%#(E8 #( 57
+#21 '(B 8+4"+7 $%#(@#(E $%34*E% ' 5431 B1+#013'$1 318D4(81 #(8$1'B<
M1$ 51 E1$ $%#8 4*$ 42 $%1 "'7 2345 $%1 01E#((#(E< A( $%#8 81=$#4(K Ae5
'5) #( '(7 "'7 '$$15D$#(E $4 =4(,#(=1 74* "%1$%13 43 (4$ 74* 2"54?(
01+#1,1 #( O4B< X%'$ =%4#=1 #8 2*(B'51($'++7 74*38 '+4(1<
A(8$1'BK $%1 D*3D481 42 $%#8 81=$#4( #8 $4 %#E%+#E%$ %4" "%'$1,13 ,#1"8K
43 +'=@ 42 ,#1"8K 74* %',1 42 O4B "#++ B#31=$+7 #5D'=$ 74*3 ,#1"8 42 74*3
4"( b*$*31 )1+2<
a%'$1,13 ,#1" 74* %4+B 42 O4B +'3E1+7 #5D'=$8 74*3 ,#1"8 42 74*381+2K
74*3 ('$*31K 74*3 D4$1($#'+K '(B 74*3 $3'J1=$437< c4*3 ,#1" 42 O4B #5D'=$8
04$% 74*3 5'=34 '(B 5#=34 ,#1"8 42 74*3 4"( 2*$*31K 04$% #( $%#8 +#21 '(B
#( ' D4$1($#'+ '2$13+#21<
b43 1d'5D+1K #2 74* 01+#1,1 $%131 #8 ' O4BK '(B $%'$ "%'$ 74* B4 #( $%#8
+#21 #5D'=$8 74*3 8$'$1 #( $%1 (1d$ +#21K $%1( $%'$ '2$13+#21 2*$*31 D138D1=$#,1
#(2+*1(=18 74*3 '=$#4(8 $4B'7< A2 74* B4(e$ 01+#1,1 $%131 #8 ' O4BK '(B
#(8$1'B 01+#1,1 $%131 #8 (4$%#(E '2$13 $%#8 +#21K $%1( $%'$ 2*$*31 D138D1=$#,1
"#++ 8#5#+'3+7 #(2+*1(=1 74*3 D3181($ 01%',#43<
)451 D138D1=$#,18 42 O4B +1',1 74* "#$% '( *(=+1'3 81(81 42 D*3D481
'(B ' 318$3#=$1B ,#1" 42 74*3 4"( B18$#(7< b345 57 8$'(BD4#($K '(7
D138D1=$#,1 $%'$ +#5#$8 74*3 b*$*31 )1+2 8%4*+B 01 W*18$#4(1BK 18D1=#'++7
"%1( #$ =4518 $4 O4B<
k$%13 D138D1=$#,18 42 O4B '31 #($1(81+7 +#013'$#(E #( 318D1=$ $4 74*3
b*$*31 )1+2< A( 2'=$K A "#++ 8%'31 $%1 ,#1" A 8D1=#2#='++7 %4+B 42 O4BK '(B
%4" $%#8 ,'($'E1 D4#($ E#,18 51 '( *$$13+7 031'$%Y$'@#(E ,#1" 42 (4$ 4(+7
57 4"( b*$*31 )1+2 0*$ '+84 $%1 D4$1($#'+ 42 1,137 4$%13 %*5'( 4( $%#8
D+'(1$<
X%131 '31 =4*($+188 ,#1"8 42 O4B '(B O4Be8 31+'$#4( $4 %*5'(#$7< Ae5
E4#(E $4 B1$'#+ ' 21" 42 $%1 =+'88#='+ 23'51"43@8< b43E#,1 51 243 4(+7
24=*8#(E 4( ' 21"< N7 D4#($ %131 #8(e$ $4 D34,#B1 ' =45D31%1(8#,1 +#8$ 42
'++ $%1 B#22131($ 24358 42 01+#12K 0*$ $4 %#E%+#E%$ #( 8#5D+1 $1358 $%1
#5D'=$ 42 4(1e8 01+#128 4( $%1#3 4"( b*$*31 )1+2< b345 $%#8K A %4D1 $4
#(8D#31 #($348D1=$#4( 4( 74*3 4"( 01+#128 '(B $%1#3 #5D'=$ 4( 74*3
$3'J1=$437<
b43 #(8$'(=1K ' =4554( ,#1" #8 $%'$ O4B =4($34+8 '(B B1$135#(18 '++
$%#(E8K #(=+*B#(E '++ %*5'( '=$#4(8 '(B 4*$=4518< b345 $%#8 ,#1"K #$
B418(e$ 31'++7 5'$$13 "%4 74* '31 '(B "%'$ 74* B4 #( $%#8 +#21< O4B %'8
'+31'B7 D31B18$#(1B "%4 "#++ E4 $4 %1',1( '(B "%4 "#++ E4 $4 %1++<
X%#8 D138D1=$#,1 =31'$18 "%'$ D87=%4+4E#8$8 ='++ '( #L)#1'%? ?5/42 58
/5')15?K "%131 74* 01+#1,1 74* %',1 (4 'E1(=7 43 #5D'=$ 4( "%'$ %'DD1(8
#( 74*3 +#21<`[ A$ 8$4D8 74* 2345 $'@#(E 4"(138%#D 42 74*3 '=$#4(8 '(B
01%',#438T'(B +1'B8 74* $4 0+'5#(E 4$%138K 1,1( O4BK 243 74*3 +#21e8
4*$=4518<`\
6',#(E '( 1d$13('+ +4=*8 42 =4($34+ #8 B#31=$+7 31+'$1B $4 B1D3188#4(<`Z
b345 57 8$'(BD4#($K $%#8 #8 '( *(%1'+$%7 ,#1" 42 O4BK '88*5#(E O4B $4
01 8451 B#=$'$43 '(B =4($34+ 231'@< b345 ' 31+'$#4('+ 8$'(BD4#($K #$ "4*+B
01 #5D488#0+1 $4 %',1 ' %1'+$%7 31+'$#4(8%#D "%131 4(1 D'3$7 E4,13(8 '(B
B#=$'$18 1,137$%#(E $%'$ %'DD1(8 $4 $%1 4$%13 D'3$7< X%#8 ,#1" 5'@18 *8
O4Be8 D*DD1$8K "%131 O4B B1$135#(18 4*3 *+$#5'$1 B18$#(7< 61(=1K $%1
#5D'=$ 42 $%#8 D138D1=$#,1 4( 74*3 b*$*31 )1+2 #8 *+$#5'$1+7 B18$3*=$#,1K
01='*81 74* %',1 '084+*$1+7 (4 8'7 #( "%'$ 74*3 b*$*31 )1+2 01=4518<
/(7 ,#1" $%'$ 3154,18 'E1(=7 $4"'3B 74*3 b*$*31 )1+2 #8 +#5#$#(E<
/(4$%13 =4554( ,#1" #8 $%'$ O4B #8 $%1 =31'$43 '(B "1 '31 O4Be8
=31'$#4(8< b345 $%#8 01+#12 878$15K O4B =31'$1B 1,137$%#(E #(=+*B#(E $%1
Q'3$% '(B *8 4*$ 42 (4$%#(E< b345 $%#8 ,#1"K O4B #8 ' 2*(B'51($'++7
B#22131($ $7D1 42 01#(E $%'( "1 '31< O4B #8 *(@(4"'0+1 '(B
#(=45D31%1(8#0+1 $4 *8< A$e8 "#B1+7 '=@(4"+1BE1B $%'$ $%#8 ,#1" 42 O4B
8$158 2345 O311@ D%#+484D%7<_H
X%1 '('+4E7 42 $%#8 D138D1=$#,1 =4*+B 01 $%'$ O4B #8 +#@1 $%1 D4$$13 '(B
"1e31 +#@1 ' D#1=1 42 D4$$137< X4 2*3$%13 $%1 '('+4E7K $%1 D4$ '(B $%1 D4$$13
'31 =45D+1$1+7 B#22131($K '(B 8115#(E+7 *(31+'$1B< X%1 D4$ ='( (1,13
*(B138$'(B $%1 D4$$13< X%1 D4$ =4*+B (1,13 '8D#31 $4 $3*+7 =4((1=$ "#$% $%1
D4$$13K +1$ '+4(1 01 +#@1 $%1 D4$$13<
/ +#5#$'$#4( 42 $%#8 ,#1" #8 $%1 "1BE1 43 '( 1$13('+ B#,#B1 #$ =31'$18
01$"11( O4B '(B %*5'(#$7< b345 $%#8 D138D1=$#,1K "1 ='( (1,13 $3*+7
=45D31%1(B 43 31+'$1 "#$% O4B< a1 ='( "438%#D O4B '(B 01 '5'f1B 07
O4B '(B O4Be8 =31'$#4(8K 0*$ "1 ='(e$ @(4" "%7 O4B =31'$1B *8K "%4 O4B
#8K 43 "%4 "1 '31< X%#8 D138D1=$#,1 +1',18 *8 "#$% ' =4(2*81B #B1($#$7 '(B
+'=@ 42 =+1'3 81(81 243 4*3 $3'J1=$437<
X%1 2#('+ 23'51"43@ #8 $%1 4(1 A D1384('++7 3184('$1 "#$% 548$K '(B
"%#=% A 01+#1,1 $4 01 548$ $3*$%2*+ '(B #(8D#3#(E< A( $%#8 ,#1"K O4B #8 $%1
D'31($ 42 %*5'(#$7K '(B 1,137 D1384( #8 O4Be8 +#$13'+ 4228D3#(E_] '(B
%1#3<_G
b345 $%#8 ,#1"K '++ D14D+1 +#,1B #( $%1 D3181(=1 42 O4B 012431 =45#(E $4
Q'3$%K '(B 1'=% D1384( 4( $%#8 D+'(1$ =4(8=#4*8+7 =%481K 42 $%1#3 4"(
,4+#$#4(K $4 %',1 $%#8 543$'+ 1dD13#1(=1< X%#8 543$'+ 1dD13#1(=1 #8 ' 8$1D
*D '(B 8$1D 243"'3B #( 4*3 1,4+*$#4(< M#21 #8 +#@1 ' 8=%44+K #(=*0'$43K 43
8#5*+'$#4(K D*31+7 1dD13#1($#'+ '(B B1,1+4D51($'+<_o a1 '++ =%481 4*3 4"(
1dD13#1(=18 '(B +1884(8<
A( $%1 044@K D8 F*8# D2 % $%>#6 !"#2# .1# )"# G4?#2K C%13#1 C'3$13Y)=4$$
D3181($8 ]H 3*+18 243 +#21<_^
a#$% $%1 #(('$1 ='D'=#$7 $4 01=451 +#@1 O4B #( '++ "'78K "%'$ B418 $%'$
8'7 '04*$ 74*3 b*$*31 )1+2n A$ 51'(8 $%'$ "%'$1,13 O4B #8K 74* ='(
01=451 '(B %',1 '++ 42 $%'$< .?? 58 *)<
a43B8"43$%e8 '(B )(4"e8 D138D1=$#,1 '31(e$ (1" 43 *(#W*1< X%1
D%#+484D%#='+ $135 243 $%#8 ,#1" 42 O4B #8 @(4"( '8 )"#52*2 43 B1#2#='$#4(K
"%#=% 51'(8 $4 U5'@1 B#,#(1<V_[K_\K_Z a1 811 $%1 $%148#8 D138D1=$#,1 '8
1'3+7 '8 $%1 81=4(B =1($*37< b43 #(8$'(=1K A31('1*8K ' O311@ 0#8%4D "%4
+#,1B 2345 ]]`yGHG '<B<K 8$'$1B:
a1 %',1 (4$ 011( 5'B1 E4B8 2345 $%1 01E#((#(EK 0*$ '$ 2#38$
5131+7 51(K $%1( '$ +1(E$% E4B8 < < < 9'88#(E 0174(B $%1 '(E1+8K '(B
01 5'B1 '2$13 $%1 #5'E1 '(B +#@1(188 42 O4B<[HK[]
X%1 2'54*8 GH$%Y=1($*37 "3#$13 '(B $%14+4E#'( C< )< M1"#8 "'8 '(
'3B1($ 01+#1,13 '(B 'B,4='$1 42 $%1 $%148#8 D138D1=$#,1 42 O4B '(B
%*5'(#$7< /8 %1 8'#B:
8-%6D$( @.* #( '.2)(2 +'.* @56D$(L0 H5" '.C( +5 B52F '.2) +5 4(+
/5"2 +'%*F%*4 @$(.* +5 6.F( %+ &%6D$(= M"+ %+I& B52+' %+ %* +'( (*)
#(@."&( 5*@( /5" 4(+ +'(2(: /5" @.* 65C( 65"*+.%*&=>
T)$1,1 P408]
a%1( )$1,1 P408 31$*3(1B $4 /DD+1 #( ]ZZ[K $%1 =45D'(7 $11$131B 4(
$%1 03#(@ 42 2'#+*31<
&*3#(E $%1 2#('+ W*'3$13 42 ]ZZ_K /DD+1e8 8'+18 D+*551$1B 07 oH
D13=1($< X%1 8$4=@ B#DD1B $4 ' ]GY71'3 +4" "%#+1 N#=34842$ 3481 '8 $%1
B45#('($ =45D*$13 =45D'(7 #( $%1 5'3@1$<
P408 21+$ 4,13"%1+51B 07 $%1 8%113 (*5013 42 =4(2*8#(E D34B*=$8 /DD+1
D34B*=1BK #(=+*B#(E $%1 8'51 D34B*=$ #( B4f1(8 42 ,138#4(8<
Ua%#=% 4(18KV P408 "'($1B $4 @(4"K UB4 A $1++ 57 23#1(B8 $4 0*7nV
a%1( 5'('E151($ =4*+B(e$ D34,#B1 ' 8#5D+1 '(8"13K P408 #551B#'$1+7
=*$ $%1#3 ='$'+4E 07 [H D13=1($ '(B B4"(8#f1B $%1 =45D'(7 2345
'DD34d#5'$1+7 \KHHH 15D+47118 $4 `KHHH<
U&1=#B#(E "%'$ (4$ $4 B4 #8 '8 #5D43$'($ '8 B1=#B#(E "%'$ $4 B4KV P408
8'#B< UA$e8 $3*1 243 =45D'(#18K '(B #$e8 $3*1 243 D34B*=$8<VG
N4,#(E 243"'3BK /DD+1 D34B*=1B 4(+7 24*3 D34B*=$8<
b43 D342188#4('+8K /DD+1 =31'$1B $%1 94"13 N'=#($48% Oo B18@$4D '(B
$%1 94"13I44@ Oo D43$'0+1 =45D*$13< b43 =4(8*5138K $%131 "'8 $%1 #N'=
B18@$4D '(B $%1 #I44@ D43$'0+1 =45D*$13<
P408e8 8$3'$1E7 "'8 8#5D+1: 24=*8 4( 21"13 D34B*=$8 '(B B3'5'$#='++7
#5D34,1 $%1 W*'+#$7 '(B #((4,'$#4( 42 $%1 21"<
&*3#(E P408e8 2#38$ 2#8='+ 71'3 0'=@ '$ $%1 %1+5K /DD+1 4D13'$1B ' 5131
ZH B'78 2345 01#(E #(84+,1($ '(B 5431 $%'( p] 0#++#4( #( $%1 31B< c1$K
$%34*E% P408e8 8$3'$1E7 42 1+#5#('$#(E B#8$3'=$#(E D34B*=$8 '(B +'813
24=*8#(E 4( $%1 1881($#'+8K /DD+1 $*3(1B ' poHZ 5#++#4( D342#$ B*3#(E %#8
81=4(B 71'3 0'=@<
P408e8 5'8$13 D+'( %'B '+"'78 011( $4 #5D'=$ $%1 1($#31 <51?(< X%'$ "'8
1,1( $%1 $135 %1 *81B #( ]Z\o $4 31=3*#$ P4%( )=*++17K ' +1'B13 '$ 91D8#<
U&4 74* "'($ $4 81++ 8*E'3 "'$13 243 $%1 318$ 42 74*3 +#21K 43 B4 74* "'($ $4
=451 "#$% 51 '(B =%'(E1 $%1 "43+BnV
I7 03#(E#(E $%1 /DD+1 $1'5 $4E1$%13K '(B %1+D#(E $%15 =31'$1 ' 81+1=$
21" "43+BY=%'(E#(E =4(=1D$8K P408 +'#B $%1 E34*(B"43@ 243 /DD+1e8
=4($#(*1B #((4,'$#4(< X%1 =45D'(7 #($34B*=1B 31,4+*$#4('37 D34B*=$8
#(=+*B#(E $%1 #94B #( GHH]K /DD+1 #X*(18 )$431 #( GHHoK $%1 #9%4(1 #(
GHH[K '(B $%1 #9'B #( GH]H<
P408 %#581+2 "'8 ' =45D+1d E1(#*8 $%'$ (4 0#4E3'D%13 43 D87=%4+4E#8$
"#++ 1,13 2*++7 *(B138$'(BK 0*$ %#8 8$3'$1E7 243 8*==188 "'8 8#5D+1< P408
%1+B ' B12#(#$1 '$$#$*B1 '04*$ %4" $%1 2*$*31 8%4*+B 01K '(B =4*3'E14*8+7
24*E%$ 243 %#8 =4(,#=$#4(8< 61 "'8 '( 1881($#'+#8$ "%4 24=*81B 4( U+188K
0*$ 01$$13KV W*'+#$7 4,13 W*'($#$7<o
Q'3+7 #( %#8 ='3113K P408 "'8 1d$3151+7 34*E% '34*(B $%1 1BE18 '(B
+'=@1B +1'B138%#D 8@#++8< X%#8 =450#('$#4( +1B $4 E1$$#(E 2#31B 2345 %#8
4"( =45D'(7< &*3#(E %#8 ]] 71'38 '"'7 2345 /DD+1K %1 +1'3(1B %*5#+#$7
'(B +1'B138%#DK '(B $%1 8@#++8 $4 #((4,'$1 '(B =%'(E1 $%1 "43+B<
&*3#(E %#8 1d#+1 71'38K P408 #(,18$1B #( 9#d'3 )$*B#48K '(B %1+D1B $%15
"#$% $%1#3 2#38$ 5'J43 2#+5K !5C 9)51C< X%'$ 54,#1 5'B1 %#5 ' 0#++#4('#31
012431 %1 31$*3(1B $4 /DD+1<
a%1( %1 ='51 0'=@K %1 "'8(e$ $%1 8'51 E*7<
c18K %1 8$#++ %'B %#8 E1(#*8 '(B f1'+<
61 8$#++ %'B ' 8#5#+'3 4,13'3=%#(E ,#8#4(<
I*$ %#8 03'8% 243513 81+2 %'B 011( $15D131B "#$% 1dD13#1(=1 '(B
"#8B45< &18D#$1 B#8'DD4#($51($8 '(B 81$0'=@8K %#8 =455#$51($ $4 '
b*$*31 )1+2 "%4 "4*+B =%'(E1 $%1 "43+B +1B %#5 $4 $*3( ' (1'3 0'(@3*D$
=45D'(7 #($4 $%1 548$ ,'+*'0+1 =45D'(7 4( $%1 D+'(1$<
P408e8 8$437 D34,#B18 ' 84+#B 24*(B'$#4( 243 $%1 81,1( =431 8$1D8 $4 01#(E
74*3 B18#31B b*$*31 )1+2< /8 "#$% '++ +1'3(#(EK $%1 D34=188 ='( 211+ 51887
'(B 8451 5451($8 "#++ 01 B'3@<
c4*3 b*$*31 )1+2 "#++ E*#B1 74*<
c4*3 b*$*31 )1+2 "#++ 01 =45D'88#4('$1 $4"'3B 74*3 5#8$'@18 '+4(E $%1
"'7< C13$'#(+7K $%17 %',1 ' 2'3 5431 1+1,'$1B '(B "#813 D138D1=$#,1 $%'(
74* '(B A %',1 (4"<
a#$% $%1 $%31'$8 '(B $3*$%8 01%#(B 74*K 74*e31 31'B7 243 $%1 =4(=31$1
8$1D8 $4 01 74*3 b*$*31 )1+2 (4"<
X%131e8 (4 5431 $#51 $4 "'#$<
c4*3 b*$*31 )1+2 #8 31'B7 243 74*<
&$%+ < 1
A2 74* %',1 5431 $%'( $%311 D3#43#$#18K 74* B4(e$ %',1 '(7<_
c4*3 +#21 #8 +#@1 ' E'3B1(< A2 74*e31 (4$ #($1($#4('+K 74*3 E'3B1( "#++ 01
4,133*( "#$% "11B8 '(B 3'(B45(188< X%#8 4==*38 #2 74* %',1 $44 5'(7
=45D1$#(E E4'+8 '(B D3#43#$#18<
O34"#(E 74*3 b*$*31 )1+2 31W*#318 #(,18$#(E #( 74*3 b*$*31 )1+2<
A(,18$#(E #( 74*3 b*$*31 )1+2 #8 '@#( $4 D+'($#(E '(B (4*3#8%#(E 811B8 $%'$
1,1($*'++7 01'3 23*#$< X4 B1$135#(1 "%#=% 811B8 $4 D+'($K 2#38$ B1$135#(1
"%#=% 23*#$ 43 4*$=4518 74* "'($ 243 74*3 b*$*31 )1+2<
A2 74* "'($ $4 1'$ 8'+8' #( 74*3 2*$*31K 24=*8 74*3 E'3B1( 4( $45'$418K
D1DD138K 4(#4(8K '(B =#+'($34< )@#D $%1 8"11$ D4$'$418<
A$e8 @17 $4 '8@: :"%) %1# C54 5&)*>*Z*'- 851]
a%4 B4 74* "'($ 74*3 b*$*31 )1+2 $4 01n
a%'$ 21" '31'8 B4 74* "'($ $4 D3#43#$#f1 '(B #(,18$ 0#E #( 84 74* ='(
=31'$1 ]Hx =45D4*(B#(E 318*+$8n a%'$ 811B8 43 #(,18$51($8 B4 74* "'($
$4 D+'($ $%'$ "#++ 7#1+B $%1 E31'$18$ 31$*3(n
b43 #(8$'(=1K #2 74* 31'++7 "'($ 74*3 b*$*31 )1+2 $4 01 2'3 %1'+$%#13K $%1(
"1++(188 #8 '( '31' 42 24=*8 '(B 5'J43 #(,18$51($< A2 74* "'($ 74*3 b*$*31
)1+2 $4 %',1 '( '0*(B'(=1 42 D'88#,1Y#(=451 E1(13'$#(E '881$8K $%1(
2#('(=1 #8 ' =431 D3#43#$7<
k(+7 74* ='( B1=#B1 "%'$ 74* "'($ $4 4D$#5#f1 243 74*3 b*$*31 )1+2<
k(+7 74* ='( B1$135#(1 "%'$ 8D1=#2#= 811B8 $4 D+'($K '(B "%'$ 74* "'($
74*3 +#21 $4 +44@ +#@1<
X%1 81=4(B @17 $4 =+'3#27 74*3 b*$*31 )1+2 #8 B12#(#(E 74*3 D*3D481 "#$%
$%311 =+1'3 D3#43#$#18<
a%'$ $%311 D3#43#$#18K #2 31'+#f1BK "4*+B $'@1 74*3 +#21 $4 ' $4$'++7
B#22131($ +1,1+n X%181 '31 $%1 $%311 '31'8 42 24=*8 74* "'($ $4 B3'5'$#='++7
#(,18$ #( $4 =31'$1 ]Hx =45D4*(B#(E 318*+$8< X%181 D3#43#$#18 '31 $%1 548$
#5D43$'($ '31'8 42 24=*8 '$ $%#8 D'3$#=*+'3 D4#($ #( $#51< A( $%1 2*$*31K 74*
"#++ +#@1+7 %',1 B#22131($ D3#43#$#18<
/8 ' $11('E13K 57 8#(E+1 D*3D481 "'8 $4 E1$ 4( ' =%*3=% 5#88#4(
24++4"#(E %#E% 8=%44+< A %'B (4 #B1' "%'$ 57 +#21 %1+B '2$13 $%'$ 5#88#4(<
I*$ A 01+#1,1B $%'$ E1$$#(E 4( $%'$ 5#88#4( "'8 $%1 '084+*$1 548$
#5D43$'($ $%#(E A =4*+B B4 243 57 b*$*31 )1+2<
R4$ E4 $4 =4++1E1<
R4$ 2#E*31 4*$ "%'$ A "4*+B B4 "#$% 57 +#21<
R4$ 01E#( 57 ='3113<
P*8$ E4 4( $%'$ 5#88#4(<
A2 A =4*+B E1$ $4 $%'$ 5#+1 5'3@13K AeB 2#E*31 4*$ "%'$ $4 B4 (1d$ 2345
$%131<
X%'$ D*3D481 D340'0+7 8',1B 57 +#21K J*8$ '8 b3'(@+e8 D*3D481 8',1B %#8<
&*3#(E 57 $11( 71'38K A 1dD13#1(=1B ' +4$ 42 $3'*5' '(B =4(2*8#4(< N7
D'31($8 %'B E4(1 $%34*E% ' 03*$'+ B#,43=1K 57 2'$%13 0'$$+1B '( 1d$3151
B3*E 'BB#=$#4(K '(B $%131 "'8(e$ 5*=% 8$'0#+#$7 #( 57 %451<
a#$%4*$ $%'$ R43$% )$'3 42 813,#(E ' 5#88#4(K A "4*+B +#@1+7 %',1 8*(@
#($4 $%1 =%'48 '34*(B 51< A @(1" $%'$ $4 813,1 ' 5#88#4(K A (11B1B ' %#E%
8=%44+ B#D+45'< a#$% $%1 5#88#4( '8 57 E4'+K A 0'31+7 E3'B*'$1B %#E%
8=%44+K 0*$ A E3'B*'$1B< A (11B1B $4 *D%4+B ,'3#4*8 8$'(B'3B8 $4 01=451 '
5#88#4('37K "%#=% 1('0+1B 51 $4 (4$ E1$ +48$ #( $%1 B3*E8 '(B 8#5#+'3 $3'D8
'34*(B 51<
k(=1 A E4$ %451 2345 $%'$ 5#88#4( #( GH]H '$ 'E1 GGK 57 =4($1d$*'+
D*3D481 243 $%1 (1d$ 2#,1 71'38 "'8 $%311 24+B:
)%43$+7 '2$13 E1$$#(E $4 C+1584(K M'*31( '(B A 01='51 $%1 248$13 D'31($8
42 $%311 =%#+B31(< a1 8D1($ $%1 (1d$ $%311 71'38 0'$$+#(E $%1 248$13 878$15
*($#+ b103*'37 42 GH]\ "%1( "1 "131 5#3'=*+4*8+7 E3'($1B 'B4D$#4(< k(1
54($% '2$13 $%1 'B4D$#4(K '2$13 71'38 42 213$#+#$7 $31'$51($8K M'*31(
01='51 D31E('($ "#$% $"#( E#3+8 ,#' #( ,#$34 213$#+#f'$#4( !Amb-< k*3 $"#(8
"131 043( &1=15013 42 GH]\<
A( 1'3+7 GH]`K B*3#(E 57 81=4(B 81518$13 '$ C+1584(K A 8$'3$1B
0+4EE#(E 4(+#(1< k,13 $%1 (1d$ $"4 71'38K A "34$1 %*(B31B8 42 0+4E D48$8
'(B E31" ' 8#f'0+1 15'#+ +#8$< A( P'(*'37 42 GH][K A +'(B1B 57 2#38$ 044@
B1'+K '(B #( N'3=% 42 GH]\K :*??&5<#1 I5#2'3) :51A "'8 D*0+#8%1B< A(
GH]ZK A 2#(#8%1B 57 9%<&< '(B 8#E(1B 044@ B1'+8 243 57 (1d$ $"4 044@8K
B#125'%?*)C D2'3) B#1>%'#') '(B :"5 ;5) ,5<K 04$% 42 "%#=% "131
D*0+#8%1B #( GHGH<
X%'$ 03#(E8 51 $4 $%1 D3181($ 5451($< M'*31( '(B A (4" %',1 8#d
=%#+B31(K 4*3 +'8$ =%#+BK j1dK "'8 043( #( R4,15013 42 GHGH< a1 +#,1 #(
k3+'(B4 '(B 4*3 $%311 4+B13 @#B8 '31 ]^K ]GK '(B ]H<
O#,1( 4*3 8$'E1 #( +#21K 4*3 D*3D481 '(B D3#43#$#18 '31 B#22131($ 2345
"%'$ $%17 "131 2#,1 71'38 'E4 "%1( "1 "131 2#38$ 8$'3$#(E 4*$ '$ C+1584(<
a1e31 (4$ $%1 8'51 D14D+1 "1 "131<
a1e31 (4$ #( $%1 8'51 8#$*'$#4(<
a1 B4(e$ %',1 $%1 8'51 =4($1d$*'+ D*3D481<
A( ' 31=1($ =4(,138'$#4(K M'*31( '(B A B#8=*881B "%'$ "4*+B 01 $%1 548$
#5D43$'($ '31'8 42 24=*8 243 *8 4,13 $%1 (1d$ 21" 71'38< a1 B1=#B1B $%'$
4*3 $4D D3#43#$7 #8 4*3 4+B13 $%311 @#B8 8#(=1 $%17 '31 5'@#(E $%1#3 "'7
$%34*E% $%1#3 $11( 71'38 '(B "#++ +'*(=% #($4 01#(E 'B*+$8 844(<
/8 42 GHG]K 57 =4($1d$*'+ D*3D481 243 $%1 (1d$ 2#,1 71'38 #8 $%31124+B:
X%181 '31 $%1 '31'8 A "'($ $4 4D$#5#f1 243 57 b*$*31 )1+2< X%#8 #8 $%1
23*#$ A "'($ 57 b*$*31 )1+2 $4 1dD13#1(=1< X%181 '31 $%1 '31'8 Ae5 E4#(E $4
5'@1 5'88#,1 '(B 24=*81B #(,18$51($8 #( $4 '88*31 $%181 8D1=#2#= '31'8
E34" '(B =45D4*(B 5'88#,1+7<
A 8%'31B 57 D3#43#$#18 8#5D+7 $4 E#,1 '( 1d'5D+1< X%1 8D1=#2#=8 42 57
=*331($ D3#43#$#18 '(B 24=*8 '31 (4$ "%'$ 5'$$138<
X%1 W*18$#4( 243 74* $4 '(8"13 #8: :"%) *2 C541 /411#') &41&52#]
a%4 #8 74*3 b*$*31 )1+2 '$ 74*3 (1d$ +1,1+n
C'( 74* E#,1 74*3 b*$*31 )1+2 =4($1d$ '(B 5'@1 74*3 ,#8#4( ,#,#BK
B1$'#+1BK '(B D1384('+ $4 74*n
a%'$ $%311 D3#43#$#18 42 24=*8 '31 '084+*$1+7 548$ =3*=#'+ '(B 1881($#'+
243 74* 3#E%$ (4"n &4 74*3 $%311 D3#43#$#18 1504B7 $%1 D*3D481 74* 211+ #8
548$ #5D43$'($ 243 74* $4 2*+2#++n &4 $%181 $%311 D3#43#$#18 3184('$1 B11D+7
'(B 1d=#$1 74*n
b43 'BB#$#4('+ $3'#(#(E '(B 3184*3=18K #(=+*B#(E $%1 c B1*51*)*#2
7"#/A?*2)K E4 $4 b;X;jQ)QMb<CkNl9jAkjAXAQ)<
/2$13 74* =+'3#27 '(B B12#(1 74*3 =431 $%311 D3#43#$#18K 81$ 8D1=#2#= '(B
51'8*3'0+1 ]GY54($% E4'+8 243 1'=% 4(1< 6131 '31 57 4"( GHGG E4'+8:
]< D!-."&
'< X'@1 ]`H 2311 (4(Y"43@ B'78 B*3#(E GHGG !a1B(18B'78K
)'$*3B'78K )*(B'78-K "%131 A #(,18$ #( 57 2'5#+7 '(B %',1
D1'@ 1dD13#1(=18
0< )#dY"11@ 8*5513 Q*34D1 $3#D
=< N4($%+7 4(1Y4(Y4(1 "#$% $%1 4+B13 @#B8
B< 6*E1 24=*8 '(B #(,18$51($ #( $%1#3 8D43$8 '(B 4$%13 #($1318$8
G< %$$S#
'< 9*0+#8% @# H541 =4)41# 9#?8 ;5< '(B QS^ D2 T%2*#1 !"%' d^
0< )1++ 5431 $%'( ]KHHHKHHH 044@8 01$"11( '++ 42 57 D*0+#8%1B
"43@8
=< &1$135#(1 57 (1d$ =4++'043'$#4( 243 ' GHGo 044@
o< D.+!+M*#
'< j1'=% 57 2#('(=#'+ 2311B45 $'3E1$K $%1 '54*($ 42 '881$8 $%'$
"4*+B 1('0+1 51 $4 +#,1 "1++ 422 $%1 E34"#(E 1W*#$7
k(=1 74*e,1 =+'3#2#1B 74*3 $%311 =431 D3#43#$#18K 81$ 8D1=#2#= E4'+8 243
1'=% 42 $%481 D3#43#$#18 4,13 $%1 (1d$ ]G 54($%8<
j'(@ #( 43B13 $%481 E4'+8 #( $1358 42 "%#=% '31 $%1 '084+*$1 548$
#5D43$'($< a%#=% 42 74*3 ]GY54($% E4'+8K #2 '=%#1,1BK "4*+B 5'@1 $%1
0#EE18$ +4(EY$135 #5D'=$ 243 74*3 b*$*31 )1+2n
j'(@Y43B13#(E 57 $4D $%311 E4'+8 243 GHGG:
]< ]`H 2311 B'78 "#$% 2'5#+7 243 =4((1=$#4(K 31=4,137K D3181(=1K 8+4"#(E
$#51 B4"(
G< 9*0+#8% $"4 044@8
o< j1'=% 2#('(=#'+ 2311B45 $'3E1$
k(=1 74*e,1 3'(@Y43B131B 74*3 $4D $%311 ]GY54($% E4'+8K '8@ 74*381+2
"%#=% 42 $%181 =4*+B A D4$1($#'++7 ]Hx #( $%1 (1d$ ]G 54($%8n
X%1 E4'+ B1$135#(18 $%1 D34=188<
/ 2*(B'51($'+ '8D1=$ 42 %4D1 #8 D'$%"'78 $%#(@#(E< a%1( 74* ]Hx '(7
42 74*3 E4'+8K 74*e++ %',1 $4 31'++7 31=4(8#B13 74*3 =*331($ D34=188 43
D'$%"'7<
/8 &'( )*++#,'( 8'#BK Ua%1( ]Hx #8 74*3 51'8*3#(E 8$#=@K 74*
#551B#'$1+7 811 %4" 74* ='( 07D'88 "%'$ 1,1374(1 1+81 #8 B4#(E<V b43
1d'5D+1K #2 A ]Hx 57 2#('(=#'+ E4'+ 243 GHGGK AeB %',1 $4 $4$'++7 31$%#(@
57 =*331($ D+'( '(B D34=188< k0,#4*8+7K 57 =*331($ 'DD34'=% '(B E'51
D+'( "4*+B(e$ E1$ 51 $4 ]Hx< X%*8K #2 Ae5 813#4*8 '04*$ ]Hx#(E ' =13$'#(
'31'K A (11B $4 2#(B 43 =31'$1 ' 5*=% 5431 D4"132*+ '(B B#31=$ D'$%< X%#8
4==*38 $%34*E% $3#'+ '(B 13343< N7 b*$*31 )1+2K 1,1( (1d$ "11@K @(4"8 "'7
5431 $%'( A B4 $%#8 "11@< ]Hx 31W*#318 24=*8 '(B 8#5D+#=#$7<
a%#=% 4(1 42 74*3 ]GY54($% E4'+8 #8 548$ 3#D1 243 ' ]Hx J*5Dn
)$1D v] $4 01#(E 74*3 b*$*31 )1+2 #8 $4 =+'3#27 74*3 =4($1d$*'+ D*3D481<
I7 =+'3#27#(E '(B =4($1d$*'+#f#(E 74*3 b*$*31 )1+2K 74* 54,1 $4 )$1D vGK
"%#=% #8 3154,#(E 1,137$%#(E $%'$ =4(2+#=$8 "#$% $%1 D*3D481 '(B D3#43#$#18
74*e,1 =31'$1B<
&$%+ < >
8G( .2( F(D+ A256 5"2 45.$ *5+ #/ 5#&+.@$(&: #"+ #/ . @$(.2 D.+' +5 .
$(&&(2 45.$=>
Tj4013$ I3'*+$
A( ]Z[`K ' 74*(E 047 #( Q(E+'(BK @(4"( 243 B1,4*3#(E =45#=8 '(B
='337#(E ' 044@ 1,137"%131K "34$1 ' +#8$ 42 $%#(E8 %#8 b*$*31 )1+2 "4*+B
'==45D+#8%: Ua3#$1 '( 'B*+$ (4,1+K ' =%#+B31(e8 044@K ' =45#=K ' 54,#1K
31=43B '( '*B#4044@K "3#$1 '( 1D#84B1 42 I5/)51 :"5 < < < V
/8 R1#+ O'#5'( E31" 4+B13K %#8 +#8$ 1,4+,1B< 61 "'($1B $4 01 U'(
'*$%43K D3#5'3#+7 42 2#=$#4(K 5'@#(E E44B 044@8K 5'@#(E E44B =45#=8 '(B
8*DD43$#(E 5781+2 $%34*E% 57 "43B8<V
/ 8$3'$1E7 %1 *81B 243 31'=%#(E %#8 E4'+8 "'8 #5'E#(#(E %#8 b*$*31 )1+2
'8 ' B#8$'($ 54*($'#( %1 "'+@1B $4"'3B< Q,137 $#51 %1 "'8 D3181($1B '(
4DD43$*(#$7K %1 '8@1B %#581+2K U&418 $%#8 $'@1 51 =+4813 $4 43 2*3$%13 2345
$%1 54*($'#(nV
A2 ' D'3$#=*+'3 4DD43$*(#$7 B#B (4$ $'@1 %#5 =+4813 $4 $%1 54*($'#(K R1#+
8'#BK UR4<V
/8 %1 8$'$1B #( ' =4551(=151($ 8D11=% #( GH]G:
A @(1" $%'$ '8 +4(E '8 A @1D$ "'+@#(E $4"'3B8 $%1 54*($'#(K A
"4*+B 01 '++ 3#E%$< /(B "%1( A $3*+7 "'8 (4$ 8*31 "%'$ $4 B4K A =4*+B
8$4DK '(B $%#(@ '04*$ "%1$%13 #$ "'8 $'@#(E 51 $4"'3B8 43 '"'7 2345
$%1 54*($'#(< A 8'#B (4 $4 1B#$43#'+ J408 4( 5'E'f#(18K D34D13 J408
$%'$ "4*+B %',1 D'#B D34D13 54(17 01='*81 A @(1"K $%'$ '$$3'=$#,1
$%4*E% $%17 "131K 243 51 $%17 "4*+B %',1 011( "'+@#(E '"'7 2345
$%1 54*($'#(< /(B #2 $%481 J40 422138 %'B =451 '+4(E 1'3+#13K A 5#E%$
%',1 $'@1( $%15K 01='*81 $%17 8$#++ "4*+B %',1 011( =+4813 $4 $%1
54*($'#( $%'( A "'8 '$ $%1 $#51<
j#E%$ (4"K 74*e31 =455#$$1B $4 74*3 =*331($ +#21 '(B %'0#$8< c4*e31
=455#$$1B $4 74*3 =*331($ 318*+$8< c4*e31 31'B#(E $%#8 044@ 01='*81 74*
"'($ 01$$13 318*+$8< c4* "'($ (1" =455#$51($8<
k(=1 74*e,1 =+'3#2#1B ' 8D1=#2#= E4'+K 74* %',1 $4 '8@ 74*381+2: .> D
/5>>*))#( #'54-" )5 4'/5>>*) )5 <"%) D /411#')?C "%0#]
A2 74* $3*+7 '31 =455#$$1B $4 8451$%#(E (1" '(B 01$$13K 74*e++ 8$4D
5*=% 42 "%'$ 74*e31 =*331($+7 B4#(E<
)$1D vG 42 01#(E 74*3 b*$*31 )1+2 #8 8#5D+#27#(E 74*3 +#21 07 3154,#(E
+18813 E4'+8< A( 1,137 5451($K 74*e31 2'=1B "#$% 4(1 42 $"4 4D$#4(8:
C455#$ $4 74*3 54*($'#( 43 7#1+B $4 ' +18813 E4'+<
X%'$ +18813 E4'+ =4*+B 01 '( #(2#(#$1 (*5013 42 $%#(E8 2345 =%1=@#(E
15'#+ 43 84=#'+ 51B#' $4 1'$#(E $%'$ B18813$< A$ =4*+B 01 =4($#(*#(E 74*3
B'7 J40 "%1( 74* @(4" 74* "'($ 8451$%#(E B#22131($<
/(7$%#(E $%'$ #8(e$ $'@#(E 74* $4"'3B 74*3 b*$*31 )1+2 #8 ' +18813 E4'+<
/04*$ =455#$51($K $%1 +'$1 6'3,'3B 0*8#(188 D34218843 C+'7$4(
C%3#8$1(81( 8'#BK U]HH D13=1($ #8 1'8#13 $%'( Z\ D13=1($<V A$e8 1'8#13 $4
=455#$ $4 8451$%#(E ]HH D13=1($K 01='*81 4(=1 74*e,1 =455#$$1BK
74*e,1 1+#5#('$1B $%1 #($13('+ =4(2+#=$< c4*e,1 8#+1(=1B $%1 B1=#8#4(
2'$#E*1< c4*e,1 0'(#8%1B $%1 +18813 E4'+8<
C455#$51($ 31W*#318 ,#E#+'(=1< X%131e8 (1,13 ' $#51 "%1( +18813 E4'+8
"4(e$ D3181($ $%1581+,18 $4 74*<
k2$1(K "1 5'#($'#( 5'(7 42 4*3 %'0#$8 43 31+'$#4(8%#D8 01='*81 "1e31
8='31B $4 =455#$< a1e31 23#E%$1(1B 42 $%1 31D13=*88#4(8 42 $%'$
=455#$51($< )4 3'$%13 $%'( 1+#5#('$1 4*3 =+1'3 D'$%8 $4 +18813 E4'+8K "1
=4($#(*1 $4 5'#($'#( $%1 +18813 D'$%8<
N4$#,'$#4('++7K 4*3 E4'+Y=4(2+#=$#(E 01%',#43 5'@18 81(81< X4 %',1
54$#,'$#4(K 74* %',1 ' =45D1++#(E 4*$=451 43 31"'3BK ' D'$% 243 '$$'#(#(E
$%'$ 4*$=451K '(B $%1 =4(2#B1(=1 $4 1d1=*$1 $%'$ D'$%<\ M18813 E4'+8 '31
=45D1++#(E 01='*81 $%17e31 1'87< X%17 42213 ' W*#=@ 31"'3B 43 B4D'5#(1
%#$< 9340'0+7K "1 =455#$ $4 4*3 +18813 E4'+8 2'3 5431 $%'( "1 =455#$ $4
4*3 E1(*#(1 "#8%18<
M18813 E4'+8 '31 "11B8 #( $%1 E'3B1( 42 +#21< Q,137 $#51 74* 1(E'E1 #( '
+18813 E4'+K #$e8 $%1 1W*#,'+1($ 42 D+'($#(E ' "11B #( 74*3 E'3B1(< a%'$1,13
74* D+'($ "#++ D34B*=1 74*3 318*+$8<
a%'$ #8 74*3 E'3B1( D34B*=#(En A8 74*3 E'3B1( 4D$#5#f1B 243 74*3
b*$*31 )1+2n k3 #8 #$ $4$'++7 =%'4$#= '(B 2*++ 42 "11B8n
A( )$1D v]K "1 =+'3#2#1B 74*3 =4($1d$*'+ D*3D481< a1 B12#(1B 74*3 =431
$%311 D3#43#$#18< a1 81$ 8D1=#2#= '(B 51'8*3'0+1 $'3E1$8 243 1'=% D3#43#$7<
a1 8%'D1B 74*3 54*($'#(< a1 ,#8*'+#f1B 74*3 E'3B1(<
X%#8 #8 $%1 b*$*31 )1+2 74* "'($K 3#E%$n
X%#8 #8 74*3 D*3D481K "%#=% '==43B#(E $4 m#@$43 b3'(@+K E#,18 74*3 +#21
51'(#(E<
X4 31'+#f1 74*3 b*$*31 )1+2K =455#$ ]HH D13=1($ $4 74*3 D*3D481< c4*3
D*3D481 '(B #B1($#$7 '31 #($13=4((1=$1B< c4*3 #B1($#$7 #8 "%'$ 74*e31 548$
=455#$$1B $4< c4*3 #B1($#$7 24++4"8 74*3 D*3D481<
A2 74*e31 E4#(E $4 31'+#f1 74*3 D*3D481K $%1( )$1D vG $4 01#(E 74*3
b*$*31 )1+2 #8 *(=455#$$#(E $4 +18813 E4'+8< X%181 +18813 E4'+8 '31
8$3*=$*3'+ '8D1=$8 42 74*3 =*331($ +#21K '(B $%1 5451($Y07Y5451($
B1=#8#4(8 74* 5'@1 $%34*E%4*$ 74*3 B'7<
I7 8$3*=$*3'+ '8D1=$8K A 51'( 74*3 =*331($ %'0#$8K 01%',#438K '(B
31+'$#4(8%#D8< X%131 '31 ' +4$ 42 $%#(E8 74* B4 $%34*E%4*$ 74*3 B'7 $%'$
=4(2+#=$ "#$% 74*3 =4($1d$*'+ D*3D481<
a%'$ '31 $%481 +18813 E4'+8n
a%'$ '31 $%1 5'J43 $%#(E8 #( 74*3 +#21 $%'$ 4DD481 74*3 =4($1d$*'+
D*3D481n
a%'$ #( 74*3 +#21 #8 4*$8#B1 74*3 $%311 D3#43#$#18n
a%'$ '31 74* 8$#++ 8'7#(E U718V $4 $%'$ 74*3 B18#31B b*$*31 )1+2 "4*+B
8'7 U(4V $4n
a%'$ '31 74* =4($#(*#(E $4 =455#$ $4 '(B #(,18$ #( $%'$ #8 $'@#(E 74*
'"'7 2345 "%131 74* "'($ $4 E4n
X%#8 '8818851($ 31W*#318 03*$'+ %4(18$7<
c4*3 01%',#43 =+1'3+7 312+1=$8K #( 1,137 5451($K "%'$ 74*e31 =455#$$1B
$4< A( 1,137 #(8$'($K 74*e31 D3181($1B "#$% $%1 4D$#4( $4 +#,1 74*3 D*3D481
43 8*05#$ $4 8451 +18813 E4'+<
Q+#5#('$#(E +18813 E4'+8 #8 ' =4($#(*'+ D34=188< /8 ' "3#$13K 1,137 B'7
'(B 1,137 5451($K A %',1 $%1 =%4#=1: "3#$1 $%1 044@ 43 B4 8451$%#(E 1+81<
M#21 #8 B7('5#=K (4$ 8$'$#=< A( '+548$ 1,137 #(8$'(=1K 74* %',1 5*+$#D+1
4D$#4(8K B#8$3'=$#4(8K 4$%13 D14D+1e8 'E1(B'8K '(B 74*3 4"( =4(2+#=$#(E
B18#318< A$ $'@18 5#(B2*+(188 '(B B#8=13(51($ $4 @(4"K #( ' E#,1( 5451($K
"%'$ #8 $%1 018$ B1=#8#4( $4 5'@1<
b43 #(8$'(=1K #2 74*3 =%#+B %'8 '( #(J*37K 43 #( $%1 ='81 42 '( 1513E1(=7K
=+1'3+7 74* (11B $4 %1'B $4 $%1 %48D#$'+< I*$ #( 548$ 5451($8K $%1 D'$%
5'7 (4$ 01 $%'$ 40,#4*8K *(+188K +#@1 O'#5'(K "1 %',1 ' 8D1=#2#= 54*($'#(
$4 54,1 $4"'3B<
k(+7 '2$13 74*e,1 =455#$$1B $4 ' 8D1=#2#= D*3D481 "#$% =+1'3 D3#43#$#18
='( 74* B#8=13( "%'$e8 018$ $4 B4 #( ' E#,1( 5451($<
A8 $%#8 $'@#(E 51 $4"'3B 57 40J1=$#,1n
A8 $%#8 $%1 548$ 1221=$#,1 $%#(E A ='( B4n A2 $%1 '(8"13 #8 UR4KV $%1(
3124=*8 4( 74*3 ,#8#4(< a%1( 74* 8+#D '(B D*38*1 ' +18813 E4'+K W*#=@+7
31=455#$ $4 74*3 ,#8#4(<
X%1 b31(=% "3#$13 '(B D41$ /($4#(1 B1 )'#($YQd*D{37 8'#BK
&3< &',#B 6'"@#(8 =31'$1B "%'$ #8 @(4"( '8 $%1 >%& 58 /5'2/*542'#22<Z
X%#8 5'D 312+1=$8 +1,1+8 42 154$#4('+ B1,1+4D51($ 3'(E#(E 2345 $%1 +4"13
+1,1+8 42 8%'51K 21'3K '(B '(E13 $4 $%1 %#E%13 +1,1+8 42 =4*3'E1K
'==1D$'(=1K +4,1K '(B 1(+#E%$1(51($<
X%1 %#E%13 74* D34E3188 4( 6'"@#(8e8 5'DK $%1 1'8#13 #$ #8 $4 =31'$1 $%1
+#21 74* "'($< X%1 +4"13 74* '31 4( $%1 5'DK $%1 5431 23#=$#4(K 318#8$'(=1K
'(B D'#( "#++ 01 #( 74*3 +#21< 934E3188#(E $%34*E% $%1 +1,1+8 #8 $%1 D34=188
42 1,4+,#(E 2345 (11B#(E $4 "'($#(E $4 @(4"#(E<
a%1( 74* $%#(@ 74* (11B 8451$%#(EK 74* %',1 '( *(%1'+$%7 '$$'=%51($
$4 #$< R11B#(E #5D+#18 74* '31 #( ' B11D 8$'$1 42 +'=@ '(B ='(e$ 01 "%4+1 43
%'DD7 *($#+ $%1 (11B #8 2#++1B<
a'($#(E #8 %1'+$%#13 $%'( (11B#(EK 0*$ "'($#(E #8 8$#++ ' 8$'$1 42 +'=@< X4
"'($ '88*518 74* B4(e$ D488188 "%'$ 74* "'($<
?(4"#(E #8 ' %#E%13 +1,1+ $%'( "'($#(E< ?(4"#(E #8 $%1 '==1D$'(=1 $%'$
74* '+31'B7 %',1 "%'$ 74* "'($< c4* ='( +#,1 #( ' 8$'$1 42 '==1D$'(=1K
D1'=1K '(B E3'$#$*B1< /8 b+431(=1 )%#((K $%1 1'3+7 GH$%Y=1($*37 "3#$13 '(B
578$#=K 8'#BK Ub'#$% @(4"8 #$ %'8 '+31'B7 31=1#,1B '(B '=$8 '==43B#(E<V]H
A( 8#5#+'3 2'8%#4(K $%1 '=$43 &1(f1+ a'8%#(E$4( 8$'$1BK UX3*1 B18#31K #(
$%1 %1'3$K 243 '(7$%#(E E44B #8 O4Be8 D3442 $4 74* 81($ 012431%'(B $4
#(B#='$1 $%'$ #$e8 74*38 '+31'B7<V
a%1( 74* @(4" 8451$%#(E #8 74*38K 74* '=$ B#22131($+7 $%'( #2 74*
B4(e$ @(4"< / 8'+18D1384( "%4 @(4"8 $%17 '31 E4#(E $4 5'@1 ' 8'+1
01%',18 B#22131($+7 $%'( $%1 8'+18D1384( "%4 "'($8 $4 5'@1 ' 8'+1<
A2 ' D1384( @(4"8 $%17e31 E4#(E $4 E1$ *D $%1 (1d$ 543(#(E '(B E4 $4 $%1
E75K $%17e++ 01 B#22131($ 2345 $%1 D1384( "%4 8#5D+7 "'($8 $4< ?(4"#(E #8
'( #((13 1dD13#1(=1K ' 8$'$1 42 '==1D$'(=1<
C+481 74*3 1718 '(B #5'E#(1 74*3 b*$*31 )1+2 #( 8D1=#2#= B1$'#+< A5'E#(1
74*381+2 "%131 74* "'($ $4 01< /31 74* +#,#(E #( ' D'3$#=*+'3 %451n C4f7
07 $%1 2#31D+'=1 "#$% 74*3 +4,13n /31 74* =45D+1$#(E ' 5'3'$%4( '$ '
=13$'#( D'=1n
/==1D$ $%1 ,#8#4( '8 8451$%#(E 74* @(4" 74* '+31'B7 %',1< A(%'+1
'==1D$'(=1< A2 74* "'($K D3'7 '(B '8@ O4B #2 74* ='( %',1 $%#8K '(B "'#$
243 D1'=1 $4 318$ *D4( 74*3 84*+< b11+ $%'$ D1'=1 '(B 85#+1< O1(*#(1+7
1dD3188 E3'$#$*B1 243 74*3 ,#8#4(<
/*$%43 '(B $1'=%13 &3< P41 D1(f' 8$'$1B:
/ D3#5'37 31'84( D14D+1 B4(e$ E1$ "%'$ $%17 "'($ #8 01='*81 $%17 B4(e$
211+ "43$%7 $4 %',1 #$< X%17 ='( ,#8*'+#f1 $%1#3 B18#31B E4'+ 51($'++7K 0*$
154$#4('++7 318#8$ 4"(#(E $%1 31'+#$7<
X%17 B4(e$ 01+#1,1 $%1#3 b*$*31 )1+2<
X%17 B4(e$ 211+ '0*(B'(=1 ='( 01 $%1#38<
X%17e31 0+4=@1BK '(B 318#8$<
R'D4+14( 6#++ 8$'$1BK Ua%'$1,13 $%1 5#(B ='( =4(=1#,1 %'( O#?*#0#K $%1
5#(B ='( '=%#1,1<V 61 2*3$%13 8$'$1BK UA2 74* 5'@1 74*3 D3'7138 '(
1dD3188#4( 42 E3'$#$*B1 '(B $%'(@8E#,#(E 243 $%1 0+188#(E8 74* '+31'B7
%',1K #(8$1'B 42 31W*18$8 243 $%#(E8 74* B4 (4$ %',1K 74* "#++ 40$'#( 318*+$8
5*=% 2'8$13<V]]
O3'$#$*B1 #8 D4"132*+ "%1( 1dD31881B 243 "%'$ %'8 '+31'B7 4==*331B< A$e8
'+84 1d$3151+7 D4"132*+ "%1( 74* 1dD3188 D34'=$#,1 E3'$#$*B1 243 "%'$
74* "'($ #( $%1 2*$*31< O3'$#$*B1 1+1,'$18 2345 "'($#(E $4 @(4"#(E<
a%1( A $3*+7 "'($ 8451$%#(EK A 51B#$'$1K ,#8*'+#f1 $%1 B18#31 '8 '+31'B7
5#(1K '(B D3'7 *($#+ A 31'=% ' 8$'$1 42 @(4"#(E< b43 1d'5D+1K "%#+1 =+48#(E
57 1718 '(B 811#(E $%1 %4*81 A "'($ 57 2'5#+7 $4 +#,1 #(K A B11D+7 #(%'+1
'==1D$'(=1 42 %',#(E $%#8 %451 '(B 842$7 1d%'+1 E3'$#$*B1 243 $%1 31'+#$7 $4
01< A $4$'++7 '==1D$ $%'$ "%'$ A "'($ #8 '+31'B7 5#(1<
Ae5 '$ $4$'+ D1'=1<
X%131e8 (4 +'=@< k(+7 *$$13 E3'$#$*B1 '(B '==1D$'(=1<
A( $%1 =+'88#= 044@ .2 . V%' !"*'A#)"K P'518 /++1(K "34$1K UN1( B4 (4$
'$$3'=$ $%'$ "%#=% $%17 "'($K 0*$ $%'$ "%#=% $%17 '31<V]G
X%#8 #8 "%7 E1$$#(E $4 ' D+'=1 42 @(4"#(E '(B '==1D$'(=1 #8 =3*=#'+< X%#8
#8 "%7 74* 5*8$ 01 74*3 b*$*31 )1+2 (4"<
c4*3 01%',#43 24++4"8 74*3 #B1($#$7< X%1 8=#1($#2#= B12#(#$#4( 42 *(#')*)C
#8 U' "1++Y43E'(#f1B =4(=1D$#4( 42 $%1 81+2K =4(8#8$#(E 42 ,'+*18 '(B
01+#128 $4 "%#=% $%1 #(B#,#B*'+ #8 84+#B+7 =455#$$1B<V]o
c4*3 #B1($#$7 #8 "%'$ 74*e31 548$ =455#$$1B $4<
/8 74* '+#E( 74*3 #B1($#$7 "#$% 74*3 b*$*31 )1+2K 2*++7 '==1D$#(E $%1
$3*$% 42 #$K $%1( 74* '=$ %2 74*3 b*$*31 )1+2< &3< )$1D%1( C4,17 8'#BK UX4
@(4" '(B (4$ $4 B4 #8 31'++7 (4$ $4 @(4"<V]^
a%1( 74* @(4"K 74* "#++ B4<
X4 @(4" '(B (4$ B4 #8 $4 (4$ @(4"<
X4 31D1'$ b+431(=1 )%#((K Ub'#$% A'5<2 #$ %'8 '+31'B7 31=1#,1B '(B %/)2
'==43B#(E+7<V b'#$% #8 @(4"#(E< X%'$ @(4"#(E '*$45'$#='++7 +1'B8 $4 '(
1+1,'$1B '(B '+#E(1B B4#(E<
Q,137 +#$$+1 '=$#4( 74* $'@1 $4"'3B 74*3 b*$*31 )1+2 1(%'(=18 74*3 +1,1+
42 =455#$51($ '(B @(4"#(E< Q,137 +#$$+1 '=$#4( $4"'3B 74*3 b*$*31 )1+2 #8
$%1 1,#B1(=1 42 74*3 2'#$%<
Q,137 +#$$+1 '=$#4( $4"'3B 74*3 b*$*31 )1+2 #8 74* 5431 2*++7 01#(E 74*3
b*$*31 )1+2 (4"<
?(4"#(E '(B 01#(E #( 'B,'(=1 '31 @17 $4 %',#(E< r#E r#E+'3 8$'$1BK
Uc4* %',1 $4 O# 012431 74* ='( (5K '(B (5 012431 74* ='( %',1<V X%#8 #8
$%1 31,1381 42 %4" 548$ D14D+1 'DD34'=% $%1#3 B18#318K '(B "%7 21" D14D+1
+#,1 $%1 +#21 $%17 "'($< X%1 =4554( 'DD34'=% #8 $4 01+#1,1 74* 5*8$ %',1
8451$%#(E 2#38$K "%#=% "#++ 1('0+1 74* $4 B4 '(B *+$#5'$1+7 01 "%'$ 74*
"'($<
b43 1d'5D+1K 8'7 74* "'($ $4 01 '( 1($31D31(1*3< c4* 5#E%$ $%#(@ 74*
2#38$ (11B $4 %',1 2*(B#(EK 43 ' 03#++#'($ #B1'K 43 t2#++ #( $%1 0+'(@uK "%#=%
"#++ 1('0+1 74* $4 B4 "%'$ 74* "'($ $4 B4 '(B *+$#5'$1+7 01 "%4 74* "'($
$4 01<
I1+#1,#(E 74* 5*8$ 2#38$ %',1 8451$%#(E +1'B8 D14D+1 B4"( 1(B+188
D'$%8 42 +18813 E4'+8 $%'$ (1,13 +1'B $%15 "%131 $%17 "'($ $4 E4< /8 '(
1d'5D+1K A %',1 ' 23#1(B "%4 "4*+B +4,1 $4 31$#31 '(B B4 2*++Y$#51
%*5'(#$'3#'( 813,#=1< I*$ %1 01+#1,18 %1 5*8$ 2#38$ %',1 =13$'#(
=31B1($#'+8K 2#('(=18K '(B 1dD13#1(=18< j'$%13 $%'( 01#(E %#8 b*$*31 )1+2
(4"K %1 8D1(B8 B1='B18 '==*5*+'$#(E W*'+#2#138 $%'$ %1 01+#1,18 "#++
1('0+1 %#5 $4 1,1($*'++7 B4 '(B 01 "%'$ %1 "'($8<
a%'$ %1 B418(e$ 31'+#f1 #8 $%'$ %1 =4*+B 01 %#8 b*$*31 )1+2 (4"< A2 %1
8$'3$1B "#$% 01#(EK "%#=% #8 @(4"#(EK $%1( %#8 B4#(E "4*+B =451 815> %#8
b*$*31 )1+2K 3'$%13 $%'( 2345 %#8 =*331($ '(B +#5#$1B 81+2<
/==1D$ '(B @(4" $%'$ "%'$ 74* "'($ #8 74*38K '(B 74* ='( 01 '(B B4
815> 74*3 E4'+K 3'$%13 $%'( )5 74*3 E4'+< c4* @(4" 74*e,1 '+31'B7
8*==11B1BK '(B '=$ 815> $%1 D48#$#4( '(B 5#(B81$ 42 74*3 b*$*31 )1+2<
I1='*81 74*e31 '=$#(E 815> $%1 E4'+K 3'$%13 $%'( $4"'3B $%1 E4'+K 74*3
'=$#4(8 '31 2'3 5431 D4"132*+ '(B '+#E(1B<
c4*3 '=$#4(8 =451 2345 74*3 #B1($#$7< a%1( 74*3 #B1($#$7 #8 344$1B #(
=*331($ =455#$51($8K 3'$%13 $%'( 74*3 b*$*31 )1+2K 74*3 '=$#4(8 '31 "1'@
'(B *('+#E(1B "#$% 74*3 E4'+< X%1 4(+7 "'7 $4 31'+#f1 74*3 b*$*31 )1+2 #8
$4 O# 74*3 b*$*31 )1+2 (4"<
I1K $%1( B4K $%1( %',1<
k(=1 74* '==1D$ $%1 $3*$% 42 74*3 b*$*31 )1+2K '(B @(4" #$e8 '+31'B7
74*38K $%1( 74*3 '=$#4(8 '+#E( "#$% 74*3 ,#8#4(< c4*3 =#3=*58$'(=18
=%'(E1 #551B#'$1+7< c4* 811 "%'$ 74* B#B(e$ D31,#4*8+7 811< c4* 8$4D
B4#(E "%'$ (4 +4(E13 '+#E(8<
X%#8 $'@18 *8 $4 )$1D v^K "%131 #( ' 8$'$1 42 @(4"#(EK 74* B#31=$+7 '8@
243 1d'=$+7 "%'$ 74* "'($< c4*e++ 811 D'$%8 '(B 31+'$#4(8%#D8 $%'$ "#++ E1$
74* $4 74*3 E4'+8< /8 a#++#'5 6*$=%#(84( N*33'7 D*$ #$:
b43 $%1 2#,1 71'38 #551B#'$1+7 24++4"#(E =4++1E1K /5'(B' 9'+513 8D1($
%13 B'78 '8 ' +#,#(E 8$'$*1< )%1 D'#($1B %13 8@#( "%#$1K "431 ' "%#$1 B3188K
'(B 8$44B 4( ' =3'$1 #( ' D*0+#= 8W*'31 "#$% '( *D$*3(1B %'$ '$ %13 211$<
a%1( 84514(1 $%31" #( ' B4++'3K 8%1 5'B1 171 =4($'=$ '(B %'(B1B $%15
' "%#$1 2+4"13<
/$ (#E%$K 9'+513 D+'71B +4='+ 8%4"8 '8 $%1 D#'(#8$ '(B +73#=#8$ #( %13
B*4K $%1 &318B1( &4++8< /8 %13 5*8#= E31" D4D*+'3K 8%1 5'B1 1(4*E%
54(17 $4 W*#$ %13 8$'$*1 J40< c1$K '8 $%1 &318B1( &4++8 $4*31BK 8%1 B#B(e$
"'($ $4 +481 $%'$ B#31=$ %*5'( =4($'=$ 8%1 21+$ 5'@#(E 171 =4($'=$ "#$%
8$3'(E138 4( $%1 8$311$8<
/2$13 8%4"8K $%1 0'(B 8#E(1B '*$4E3'D%8 '(B $44@ D#=$*318 "#$% 2'(8<
X%17 5'B1 '( '3$ 42 '8@#(E $%1#3 2'(8 $4 %1+D $%15K 548$+7 *8#(E X"#$$13<
/8 9'+513 8$'$1B #( %13 XQ& X'+@K !"# .1) 58 .2A*'-:
)4K A "4*+B (11B ' D#'(4 $4 D3'=$#=1 4(K '(B '( %4*3 +'$13 A "4*+B
01 '$ ' 2'(e8 %4*81< 914D+1 "4*+B 03#(E %451Y=44@1B 244B $4 *8 '++
4,13 $%1 "43+B 0'=@8$'E1 '(B 211B *8 '(B 1'$ "#$% *8< b'(8 "%4
"43@1B #( 5*81*58 '(B 8$4318 '(B '(7 @#(B 42 D*0+#= 8D'=1 "4*+B
"',1 $%1#3 %'(B8 #2 A "4*+B B1=#B1 $4 B4 ' +'8$Y5#(*$1K 8D4($'(14*8K
2311 E#E< A 4(=1 $"11$1BK Ua%131 #( N1+04*3(1 ='( A 0*7 ' (1$# D4$nV
/(B ' (*381 2345 ' %48D#$'+ B34,1 4(1 3#E%$ '$ $%'$ 5451($ $4 $%1
='21 A "'8 #(K '(B A 04*E%$ %13 ' 8544$%#1 '(B "1 8'$ $%131 $'+@#(E
'04*$ (*38#(E '(B B1'$%<
I*$ $%1(K 9'+513e8 '8@#(E 01='51 2'3 B#22131($ 2345 J*8$ '8@#(E 243
3'(B45 2',438< /8 $%1 &318B1( &4++8e D4D*+'3#$7 =4($#(*1B $4 E34"K $%17
"131 422131B ' B1'+ "#$% ' 5'J43 31=43B +'01+< X%17 8#E(1B $%1 =4($3'=$ '(B
31+1'81B '( '+0*5 $%'$ 84+B G`KHHH =4D#18< X%1 +'01+ =4(8#B131B $%1 31+1'81
' 2'#+*31<
k(1 (#E%$ '2$13 ' 8%4"K 9'+513 8#E(1B '*$4E3'D%8 '(B %*EE1B 2'(8< /
E*7 'DD34'=%1B '(B %'(B1B %13 ' p]H 0#++< UAe5 84337K A 0*3(1B 74*3 C&
2345 ' 23#1(B< I*$ A 31'B 74*3 0+4EK A @(4" 74* %'$1 74*3 +'01+< A J*8$ "'($
74* $4 %',1 $%#8 54(17<V
914D+1 =4($#(*1B $4 %'(B 9'+513 54(17 243 %13 5*8#=< I*$ *(+#@1
"43@#(E "#$% $%1 5#BB+15'(K 9'+513 %'B B#31=$ =4($'=$ "#$% $%481 E#,#(E
%13 2*(B8< )%1 B1=#B1B 2345 $%1( 4( $4 E#,1 %13 5*8#= '"'7 243 2311< )%1
'+84 B1=#B1B $%'$ "%1(1,13 8%1 (11B1B %1+DK 8%1eB '8@ B#31=$+7<
)%1 +12$ %13 31=43B +'01+ '(B 243 %13 (1d$ D34J1=$ "#$% %13 (1" 0'(BK
O3'(B X%12$ k3=%18$3'K 8%1 $*3(1B $4 =34"B2*(B#(E<
X%1 E4'+ "'8 ]HHKHHH B4++'38< N7 2'(8 0'=@1B 51 '$ (1'3+7 ]<G
5#++#4(K "%#=% "'8 $%1 0#EE18$ 5*8#= =34"B2*(B#(E D34J1=$ $4 B'$1<
/(B 74* ='( 811 %4" 5'(7 D14D+1 #$ #8< A$e8 '04*$ G`KHHH D14D+1<
A $%#(@ D14D+1 %',1 011( 4081881B "#$% $%1 "34(E W*18$#4(K "%#=%
#8K U64" B4 "1 5'@1 D14D+1 D'7 243 5*8#=nV a%'$ #2 "1 8$'3$1B
'8@#(EK U64" B4 "1 +1$ D14D+1 D'7 243 5*8#=nV
8Z52 .*/ @'.$$(*4(: +'( A%2&+ +'%*4 +5 )5 %& 5D+%6%Q( %+= M2(.F %+
)5B* +5 %+& #.2( 6%*%6"6: &%6D$%A/ %+: .*) ($%6%*.+( (C(2/+'%*4
+'.+I& *5+ @56D$(+($/ *(@(&&.2/ = = = 1A+(2 /5"IC( 5D+%6%Q() . +.&F:
+'( *(L+ &+(D %& +5 ."+56.+( .& 6"@' .& D5&&%#$(= ,&( &5A+B.2( 52
D25@(&&(& &5 /5" @.* 4(+ +'( +.&F )5*( B%+'5"+ '"6.* %*C5$C(6(*+
PS"&+ &(+ %+ .*) A524(+ %+= Z%*.$$/: A52 .*/+'%*4 +'.+I& $(A+: 5"+&5"2@(
+5 . 4(*(2.$%&+ 52 . &D(@%.$%&+= 7+I& %6D52+.*+ +5 *5+( +'.+ .$+'5"4'
5"+&5"2@%*4 @.* )5 . $5+ A52 /5": %+ @56(& '2$13 5D+%6%Q%*4 .*)
."+56.+%*4= 7A /5" 5"+&5"2@( .* %*(AA%@%(*+ +.&F: +'.+ )5(&*I+ 2(.$$/
'($D #(@."&( %+I& &+%$$ %*(AA%@%(*+= 7+I& 6"@' #(++(2 +5 ($%6%*.+( B52F
#/ 5D+%6%Q%*4 52 ."+56.+%*4 B'(*(C(2 /5" @.* .*) 5*$/ 5"+&5"2@(
B'.+I& $(A+=>
T/3# N1#81+]Z
895 6(: U#"&/I %6D$%(& +'.+ +'( D(2&5* %& 5"+ 5A @5*+25$ 5A +'(%2
$%A(=>
T&131@ )#,138Go
c4*3 $#51 #8 $%1 =+1'318$ #(B#='$43 42 74*3 =455#$51($< c4* ='(e$ %#B1
%4" 74* 8D1(B 74*3 $#51<
X4 #5D34,1 2311B45 42 54(17K 31+'$#4(8%#D8K '(B D*3D481K 4"( 74*3
b311B45 42 X#51<
X4 %',1 2311B45 42 $#51K $'@1 4"(138%#D 42 74*3 8=%1B*+1< 93#43#$#f1
"%'$ 5'$$138 548$K '(B 1+#5#('$1 "%'$ B418 (4$< X%1 5431 74* $'@1
4"(138%#D 42 74*3 $#51 '(B '$$1($#4(K $%1 8#5D+13 '(B 1'8#13 $4 31'+#f1
74*3 b*$*31 )1+2< A2K %4"1,13K 74*3 $#51 #8 =4($#(*'++7 4,133*( "#$% +18813
E4'+8 '(B 4$%13 D14D+1e8 'E1(B'8K $%1( 74*3 B18#31B b*$*31 )1+2 "#++ 01
23*8$3'$1B<
X%131 '31 $"4 2*(B'51($'+ "'78 $4 'DD34'=% $#51: Q#$%13 #$e8 8451$%#(E
4*$8#B1 42 74* $%'$ 74* ='((4$ =4($34+K 43 #$e8 8451$%#(E "#$%#( 74* $%'$
74* 2*++7 =4($34+< A( !"# @*- F#%&K &3< O'7 61(B3#=@8 1dD+'#(8 $%181 $"4
54B1+8 '8 R1"$4(#'( X#51 ,138*8 Q#(8$1#( X#51K
Q#(8$1#( $#51 '88*518 74* '31 "%131 $#51 =4518 2345< c4* ='(
5'@1 '8 5*=% 42 #$ '8 74* "'($< R1"$4(#'( $#518K '88*518 $%131e8 '
8='3=#$7 42 $#51K "%#=% +1'B8 $4 '( *(=45243$'0+1 211+#(E 42 $#51
*3E1(=7 #(8#B1 *8< /(B "1 $%#(@ $%'$ "%'$ #8 U4*$ $%131V #8 ='*8#(E
$%1 211+#(E8 U#( %131<VG`
5//(%&&'4%., !"9+.%$%
'9+%(6%!$ 8"(:
87A /5"I2( D$.**%*4 +5 )5 &56(+'%*4 B%+' /5"2 $%A(: %A /5" '.C( . [OK
/(.2 D$.* 5A '5B +5 4(+ +'(2(: /5" &'5"$) .&F0 B'/ @.*I+ /5" )5 +'%&
%* \ 65*+'&;>
T91$13 X%1#+oH
8-'%D 5A+(*= -'%D $5"&/ &+"AA: #"+ &'%D= -'%D @5*&+.*+$/= -F%D
6((+%*4&= XA+(*= -F%D +'(6 B%+' %6D"*%+/= -'%D=>
T)1$% O4B#(o]
)1$% O4B#( #8 4(1 42 $%1 548$ D34+#2#= '(B #((4,'$#,1 0*8#(188 $%#(@138
42 $%1 G]8$ =1($*37< A( ]ZZZK %1 D*0+#8%1B B#1>*22*5' V%1A#)*'-K '
31,4+*$#4('37 '(B %*5'(1 =4(=1D$ $%'$ 24=*818 4( %',#(E D14D+1 E#,1 74*
D135#88#4( $4 5'3@1$ $4 $%15K 3'$%13 $%'( 'EE3188#,1+7 #($133*D$#(E $%1#3
+#,18 "#$% 74*3 5'3@1$#(E<oG
A( GHHoK O4B#( D*0+#8%1B B41&?# 75<K ' 04+B #(,#$'$#4( $4 8$4D 01#(E
043#(E "#$% $%1 D34B*=$8 74* 5'@1 '(B %4" 74* 5'3@1$ $%15< a%7 01 '
034"( =4" "%1( 74* =4*+B 01 ' D*3D+1 4(1n X%131 #8 3#8@ #( 01#(E 04+B
'(B 8$'(B#(E 4*$<
61 8$'$1B:
A2 74*e31 315'3@'0+1K #$e8 +#@1+7 $%'$ 8451 D14D+1 "4(e$ +#@1 74*<
X%'$e8 D'3$ 42 $%1 B12#(#$#4( 42 315'3@'0+1< R404B7 E1$8 *('(#54*8
D3'#81T1,13< X%1 018$ $%1 $#5#B ='( %4D1 243 #8 $4 01 *((4$#=1B<
C3#$#=#85 =4518 $4 $%481 "%4 8$'(B 4*$<oo
O4B#( *$#+#f1B $%1 #B1' 42 B41&?# 75< #( %#8 044@ +'*(=%< X%1 2#38$ 81+2Y
D*0+#8%1B 1B#$#4( ='51 D'=@'E1B #( ' 5#+@ ='3$4( 243 $%1 =48$ 42 8%#DD#(E
'(B %'(B+#(E< a#$% "43B8 D3#($1B 8#B1"'78 4( ' D*3D+1 '(B "%#$1 =4,13K
$%1 $#$+1 84+B 4,13 ]`HKHHH =4D#18 #( Go D3#($#(E8 4,13 $%1 2#38$ $"4 71'38 42
31+1'81<
A( GHH[K O4B#( D*0+#8%1B !"# I*&K '( 1dD+'('$#4( 42 "%7 01#(E $%1 018$
#( $%1 "43+B #8 813#4*8+7 *(B133'$1BK '(B %4" $4 B4 #$<o^ X4 01 $%1 018$K 74*
5*8$ @(4" "%1( $4 8$#=@ "#$% 8451$%#(E '(B "%1( $4 W*#$<
/8 %1 8'#B:
)451$#518 "1 E1$ B#8=4*3'E1B '(B $*3( $4 #(8D#3'$#4('+ "3#$#(EK
+#@1 8$*22 2345 m#(=1 M450'3B#: Uw*#$$138 (1,13 "#( '(B "#((138
(1,13 W*#$<V I'B 'B,#=1< a#((138 W*#$ '++ $%1 $#51< X%17 J*8$ W*#$ $%1
3#E%$ 8$*22 '$ $%1 3#E%$ $#51<
!"# 5'?C &41&52# 58 2)%1)*'- *2 )5 8*'*2"K '(B "%#+1 $%1 D34J1=$8 "1
B4 '31 (1,13 31'++7 2#(#8%1B $%17 5*8$ 8%#D< )%#DD#(E 51'(8 %#$$#(E
$%1 &4O?*2" 0*$$4( 4( 74*3 0+4EK 8%4"#(E ' D3181($'$#4( $4 $%1 8'+18
$1'5K '(8"13#(E $%1 D%4(1K 81++#(E $%1 5*22#(8K 81(B#(E 4*$ 74*3
312131(=18< )%#DD#(E #8 $%1 =4++#8#4( 01$"11( 74*3 "43@ '(B $%1
4*$8#B1 "43+B<
)4 2'3 #( O4B#(e8 8$437K Ae,1 4(+7 312131(=1B ' 21" 42 %#8 548$ D4D*+'3
"43@8< 61 D*0+#8%1B 5431 $%'( GH 044@8 '(B $%4*8'(B8 42 D48$8 4( %#8
B'#+7 0+4E< O4B#( 8%#D8 1,137 8#(E+1 B'7<
)%#DD#(E #8 '04*$ 2#(#8%#(E< &4(1 #8 01$$13 $%'( D1321=$< X4 W*4$1
M14('3B4 B' m#(=#K U/3$ #8 (1,13 2#(#8%1BK 4(+7 '0'(B4(1B<V
X4 2#(#8%K 74* 31+1'81 74*3 #5D1321=$ "43@< c4* 81(B 74*3 '3$ #($4 $%1
"43+B< c4* 5'3@1$< /(B 74* 8%#D 5431<
O4B#( 8'#B:
)451$#518K 8%#DD#(E 211+8 +#@1 ' =45D345#81< c4* 81$ 4*$ $4 5'@1
' B#22131(=1K $4 =31'$1 '3$ $%'$ 5'$$138 '(B $4 B4 74*3 018$ "43@< X%1(
' B1'B+#(1 '33#,18 '(B 74* %',1 $4 =*$ $%1 "43@ 8%43$< A8 8%#DD#(E $%'$
#5D43$'($n A $%#(@ #$ #8< A $%#(@ $%1 B#8=#D+#(1 42 8%#DD#(E #8 1881($#'+
#( $%1 +4(EY$135 D'$% 42 01=45#(E #(B#8D1(8'0+1<
O4B#(e8 8$437 '(B #B1'8 03#(E *8 $4 $%1 [$% '(B 2#('+ 8$1D 42 01#(E 74*3
b*$*31 )1+2K '(B $%'$ #8 %--1#22*0# /5>&?#)*5'<
X%1 =45D+1$#4( 42 D34J1=$8< X%1 =45D+1$#4( 42 E4'+8 '(B 40J1=$#,18<
A5D1321=$ =45D+1$#4(<
C4(8#8$1($ =45D+1$#4(<
X%1 =45D+1$#4( 42 01$$13 '(B 01$$13 D34J1=$8<
X4 01=451 74*3 b*$*31 )1+2K 74* ='(e$ 8$'7 4*$8#B1 $%1 '31('< N4,1
4*$8#B1 D'3'+78#8 07 '('+78#8 #( 74*3 %1'B '(B 1($13 #($4 $%1 '31(' "%131
74* 8%#D 74*3 "43@<
/8 01'*$#2*+ '8 74* '31K 74*3 =*331($ 81+2 #8 #(=31B#0+7 +#5#$1B '(B
#E(43'($< X%1 018$ "43@ 74* ='( D34B*=1 (4" #8 D100+18 $4 "%'$ 74*3
b*$*31 )1+2 "#++ =31'$1< c4*3 b*$*31 )1+2 E#,18 74* D135#88#4( $4 D34B*=1<
R4$%#(E 74* D34B*=1 "#++ 01 D1321=$< Q,137$%#(E 74* D34B*=1 "#++ 01
2345 $%1 +#5#$1B D138D1=$#,1 42 "%131 74* '31 #( ' E#,1( 5451($< X%1
044@8 A "34$1 $%311 71'38 'E4 '31(e$ $%1 044@8 AeB "3#$1 $4B'7< A2 74* 8D4@1
$4 51 ' 21" 71'38 '2$13 A 2#(#8%1B $%#8 044@K 74*eB $'+@ $4 ' B#22131($ I1(
6'3B7< N7 b*$*31 )1+2 #8 ' B#22131($ D1384(<
)4 #8 74*38<
)%#DD#(E #8 %4" 74* 31'=% 74*3 b*$*31 )1+2< )$'7#(E '$$'=%1B $4 74*3
243513 "43@ 43 74*3 243513 ,#1"8 @11D8 74* 8$*=@<
X4 W*4$1 /B'5 O3'($ #( !"*'A .-%*':
X4 *(+4=@ $%1 J47 42 01#(E "34(EK "1 (11B $4 B1$'=%< Ae,1 +1'3(1B
$%'$ $"4 @#(B8 42 B1$'=%51($ '31 18D1=#'++7 *812*+: B1$'=%#(E 74*3
D3181($ 2345 74*3 D'8$ '(B B1$'=%#(E 74*3 4D#(#4(8 2345 74*3
#B1($#$7 < < < N7 D'8$ 81+2 "'8 N3< b'=$8TA "'8 $44 2#d'$1B 4(
@(4"#(E< R4" Ae5 5431 #($1318$1B #( 2#(B#(E 4*$ "%'$ A B4(e$ @(4"<
/8 I3#BE1"'$13 24*(B13K j'7 &'+#4 $4+B 51K UA2 74* B4(e$ +44@ 0'=@
'$ 74*381+2 '(B $%#(@K za4"K %4" 8$*D#B A "'8 ' 71'3 'E4Ke $%1( 74*
5*8$ (4$ %',1 +1'3(1B 5*=% #( $%1 D'8$ 71'3<Vo_
]< =01:<NC4N\C "0V7 a43@ 2#++8 $%1 8D'=1 74* E#,1 #$< A2 74* E#,1
74*381+2 $%311 71'38 $4 =45D+1$1 8451$%#(EK =45D+1$#4( "#++ $'@1
$%311 71'38< A2 74* E#,1 74*381+2 $%311 54($%8K $%131e8 D340'0+7 '
D'$%"'7<
G< >A6 ab =6136NB (;E67 &4(1 #8 01$$13 $%'( D1321=$< &'( )*++#,'(
1dD+'#(1BK UQ#E%$7 D13=1($ E1$8 318*+$8K "%#+1 ]HH D13=1($ #8 8$#++
$%#(@#(E '04*$ #$<V
.NB142;3B<4N
]< O4BB'3BK R< !GH]`-< !"# B5<#1 58 U'?*>*)#( D>%-*'%)*5'+ . 75??#/)*5' 58 ;#0*??#32 9%'
=1%'/*2/5 F#/)41#2< &1,4388 | C4<
G< N3I1'8$< !GH]_-< I#%1 =4)41# V# e9/"#(4?#( U&?5%(#( f V5')"2 .-5g< N3I1'8$ c4*X*01
C%'((1+< /==1881B 4( /*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n
,}2O]R`@f1/%N
o< N3I1'8$< !GH]_-< @T9! D;!G_9 _; H_U!U@T hQ< N3I1'8$ c4*X*01 C%'((1+< /==1881B 4(
/*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}$Wko~/?C`?8
^< N3I1'8$< !GH]_-< 7U!!D;$ !.@FT D; ,.F= :D!, BF.9!D7 J;DiT9< N3I1'8$ c4*X*01
C%'((1+< /==1881B 4( /*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}$Wko~/?C`?8
`< N3I1'8$< !GH]_-< QSS F.HTG9 _= 9.G.; :G.B j !_DFT! B.BTG[[< N3I1'8$ c4*X*01
C%'((1+< /==1881B 4( /*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}0WD?+@9DX]H
_< N3I1'8$< !GH]_-< D= _;FD;T .I9 :TGT GT.F< N3I1'8$ c4*X*01 C%'((1+< /==1881B 4(
/*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}RQ&9Ewc%0W8
[< N3I1'8$< !GH][-< D 754')#( !5 QSS6SSS[ N3I1'8$ c4*X*01 C%'((1+< /==1881B 4( /*E*8$ ]oK
GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}da=+B6d6bD4
\< N3I1'8$< !GH][-< 754')*'- !5 dSS6SSS eG5%( !5 . V*?g< N3I1'8$ c4*X*01 C%'((1+<
/==1881B 4( /*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}ZCm"xIcmWm@
Z< N3I1'8$< !GH][-< 754')*'- !5 cSS6SSS G5%( !5 . V*? eB%1) Qg< N3I1'8$ c4*X*01 C%'((1+<
/==1881B 4( /*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}H)R#Q&aj(Qw
]H< N3I1'8$< !GH][-< 9%C*'- F5-%' B%4? QSS6SSS !*>#2< N3I1'8$ c4*X*01 C%'((1+< /==1881B
4( /*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}~bx_35+GcJ8
]]< N3I1'8$< !GH][-< $*0*'- . G%'(5> ,5>#?#22 V%' bQS6SSS< N3I1'8$ c4*X*01 C%'((1+<
/==1881B 4( /*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}R~ON'@?2[O^
]G< N3I1'8$< !GH][-< $*0*'- ,5>#?#22 B#5&?# bQ6SSS e;5) 7?*/AO%*)g< N3I1'8$ c4*X*01
C%'((1+< /==1881B 4( /*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n
,}^?m5)O_?)G@
]o< N3I1'8$< !GH][-< I5'%)*'- bQS6SSS !5 G%'(5> !<*)/" 9)1#%>#12< N3I1'8$ c4*X*01
C%'((1+< /==1881B 4( /*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}@*D'WWYdP~\
]^< N3I1'8$< !GH][-< !*&&*'- B*ZZ% I#?*0#1C $4C2 bQS6SSS< N3I1'8$ c4*X*01 C%'((1+<
/==1881B 4( /*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}*4$0Zr6(AGE
]`< N3I1'8$< !GH][-< !*&&*'- UO#1 I1*0#12 bQS6SSS< N3I1'8$ c4*X*01 C%'((1+< /==1881B 4(
/*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}f//xa[7)*]@
]_< N3I1'8$< !GH][-< ,5< V%'C @%??55'2 I5#2 D) !%A# !5 =?5%)] N3I1'8$ c4*X*01 C%'((1+<
/==1881B 4( /*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n
,}\0cfxA[00\@\0cfxA[00\@
][< N3I1'8$< !GH]\-< D @54-") _'# 9'*/A#12 @%1 =15> T0#1C :%?>%1)W N3I1'8$ c4*X*01
C%'((1+< /==1881B 4( /*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}8#33Xx#9b5"
]\< N3I1'8$< !GH]\-< D @54-") _'# 9'*/A#12 @%1 =15> T0#1C :%?>%1)< N3I1'8$ c4*X*01
C%'((1+< /==1881B 4( /*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}(MDWrQ/b(@Q
]Z< N3I1'8$< !GH]\-< $*0*'- c6SSS6SSS B#''*#2 !5 VC c6SSS6SSS)" 94O2/1*O#1< N3I1'8$
c4*X*01 C%'((1+< /==1881B 4( /*E*8$ ]oK GHG] '$ %$$D8:ll"""<74*$*01<=45l"'$=%n
,}91oDO8C1cxE
GH< )1+#E5'(K N< Q<K j'#+$4(K 9<K I'*51#8$13K j< b<K | )3#D'B'K C< !GH]o-< R',#E'$#(E #($4 $%1
2*$*31 43 B3#,1( 07 $%1 D'8$< B#12&#/)*0#2 5' B2C/"5?5-*/%? 9/*#'/#K \!G-K ]]Zy]^]<
G]< I'13K P<K ?'*25'(K P< C<K | I'*51#8$13K j< b< !QB8<-< !GHH\-< .1# :# =1##] B2C/"5?5-C %'(
=1## :*??< kd243B ;(#,138#$7 93188<
GG< )+#21K I< &<K | b#8%13K /< N< !GHHH-< N4B13( '(B D48$54B13( 'DD34'=%18 $4 $%1 2311
"#++lB1$135#(#85 B#+155' #( D87=%4$%13'D7< N541'%? 58 ,4>%'*2)*/ B2C/"5?5-CK ^H!]-K \Hy
]H[<
Go< )+#21K I< !GHHG-< X#51K #(2435'$#4(K '(B B1$135#(#85 #( D87=%4+4E7< @#)<##' 7"%'/# %'(
7"5*/#+ D')#1(*2/*&?*'%1C B#12&#/)*0#2 5' I#)#1>*'*2>K ^_Zy\o<
G^< j#=%'3B84(K b<K | I#8%4DK j< !GHHG-< j1$%#(@#(E B1$135#(#85 #( 84=#'+ 8=#1(=1< @#)<##'
7"%'/# %'( 7"5*/#+ D')#1(*2/*&?*'%1C B#12&#/)*0#2 5' I#)#1>*'*2>K ^G`y^`<
G`< )1+#E5'(K N< Q<K j'#+$4(K 9<K I'*51#8$13K j< b<K | )3#D'B'K C< !GH]o-< R',#E'$#(E #($4 $%1
2*$*31 43 B3#,1( 07 $%1 D'8$< B#12&#/)*0#2 5' B2C/"5?5-*/%? 9/*#'/#K \!G-K ]]Zy]^]<
G_< )1+#E5'(K N< Q<K j'#+$4(K 9<K I'*51#8$13K j< b<K | )3#D'B'K C< !GH]_-< ,5>5 &152&#/)42<
kd243B ;(#,138#$7 93188<
G[< O#+013$K &< X<K | a#+84(K X< &< !GHH[-< 9348D1=$#4(: QdD13#1(=#(E $%1 2*$*31< 9/*#'/#K
o][!`\^o-K ]o`]y]o`^<
G\< j481(0+*1$%K /<K a#1(13K R<K | I#E1+4"K P< !]Z^o-< I1%',#43K D*3D481 '(B $1+14+4E7<
B"*?525&"C 58 9/*#'/#K ]H!]-K ]\yG^<
GZ< C4'$8K Q< P<K P'(422YI*+5'(K j<K | /+D13$K R< !]ZZ_-< /DD34'=% ,138*8 ',4#B'(=1 E4'+8:
噳(=18 #( 81+2Y1,'+*'$#4( '(B "1++Y01#(E< B#125'%?*)C %'( 95/*%? B2C/"5?5-C @4??#)*'K
GG!]H-K ]H`[y]H_[<
oH< Q++#4$K /< P<K | b3#1B5'(K j< !GH][-< /DD34'=%T/,4#B'(=1: / C1($3'+ C%'3'=$13#8$#= H]
91384('+ O4'+8< D' B#125'%? B15K#/) B4124*) $5%?26 ./)*5'6 %'( ,4>%' =?541*2"*'- !DD< Z[y
]]\-< 987=%4+4E7 93188<
o]< 6'"@#(8K &< j< !GH]`-< ,#%?*'- %'( G#/50#1C< 6'7 64*81<
oG< `H C1($ | O311(1K j< !GHHZ-< !"# YS)" F%<< /5#8$'B<
oo< X%1 a11@1(B ;(#,138#$7< !GHG]-< !"# B2C/"5?5-C 58 H541 =4)41# 9#?8kB158#2251 ,%?
,#12"8*#?(< /==1881B 4( k=$4013 ^K GHG]K '$ %$$D8:ll"""<74*$*01<=45l"'$=%n
,}wIBA1C[bc@;
o^< )$'$#8$#='< !GH]Z-< F*8# #L&#/)%'/C e815> O*1)"g *' )"# U'*)#( 9)%)#26 815> QRfS )5 dSdSl<
/==1881B 4( k=$4013 ^K GHG]K %$$D8:ll"""<8$'$#8$'<=45l8$'$#8$#=8l]H^HH[Zl+#21Y1dD1=$'(=7Y
*(#$1BY8$'$18Y'++Y$#51l
o`< O#+013$K &< !GH]^-< !"# &2C/"5?5-C 58 C541 =4)41# 9#?8< XQ& X'+@< j1$3#1,1B 4( &1=15013 [K
GHG]K '$ %$$D8:ll"""<$1B<=45l$'+@8lB'(~E#+013$~$%1~D87=%4+4E7~42~74*3~2*$*31~81+2n
+'(E*'E1}1(
o_< O4+B8$#1(K &< !GH]]-< !"# O%))?# O#)<##' C541 &1#2#') %'( =4)41# 9#?8< XQ& X'+@< j1$3#1,1B
4( &1=15013 [K GHG]K '$
%$$D8:ll"""<$1B<=45l$'+@8lB'(#1+~E4+B8$1#(~$%1~0'$$+1~01$"11(~74*3~D3181($~'(B~2*$*31~81
+2
o[< P'7K N< !GHG]-< T22#')*%? \4#2)*5'2 )5 %2A C541 =4)41# 9#?8< XQ& X'+@< j1$3#1,1B 4(
&1=15013 [K GHG]K '$
%$$D8:ll"""<$1B<=45l$'+@8l51E~J'7~1881($#'+~W*18$#4(8~$4~'8@~74*3~2*$*31~81+2n
+'(E*'E1}1(
o\< &' )+#,'K /< !GHGH-< . K541'#C )5 C541 =4)41# 9#?8< XQ& X'+@< j1$3#1,1B 4( &1=15013 [K
GHG]K '$ %$$D8:ll"""<$1B<=45l$'+@8l'+1d~B'~8+#,'~'~J4*3(17~$4~74*3~2*$*31~81+2
oZ< )$1"'3$K P< N< !GHGH-< $4*(%'/# 815> C541 =4)41# 9#?8< XQ& X'+@< j1$3#1,1B 4( &1=15013 [K
GHG]K '$ %$$D8:ll"""<$1B<=45l$'+@8l5'3@~J4%(~8$1"'3$~E*#B'(=1~2345~74*3~2*$*31~81+2
^H< 64"'3BK P< !GH]Z-< 9%C*'- "#??5 )5 C541 =4)41# 9#?8< XQ& X'+@< j1$3#1,1B 4( &1=15013 [K
GHG]K '$ %$$D8:ll"""<$1B<=45l$'+@8lJ4(~%4"'3B~8'7#(E~%1++4~$4~74*3~2*$*31~81+2
^]< 6138%2#1+BK 6< !GH]^-< 64" ='( "1 %1+D 4*3 2*$*31 81+,18n XQ&dQ'8$< j1$3#1,1B 4(
&1=15013 [K GHG]K '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}$P4$I0B[N"w|$
^G< a#+84(K &< !GH]_-< !"*'A*'- =51<%1( =51 H541 =4)41# 9#?8+ T2)%O?*2"*'- H541 *jQ • &#'54(B
a#+84( • XQ&d9+'(4< j1$3#1,1B 4( &1=15013 [K GHG]K '$ %$$D8:ll"""<74*$*01<=45l"'$=%n
,}G~fN=ZX^1@/
^o< N'=#1J4,8@7K I< !GH]`-< ,5< )5 >%A# 541 B1#2#') 2#?8 O#/5># 541 =4)41# 9#?8 • I43#8
N'=#1J4,8@7 • XQ&d;Cj< j1$31#,1B 4( &1=15013 [K GHG]K '$
%$$D8:ll"""<74*$*01<=45l"'$=%n,}',X&YR7C);A
^^< N*B'$%#3K N< !GHGH-< 7"%??#'-# C541 =4)41# 9#?8 • N/X6/RA N;&/X6Aj •
XQ&dc4*$%hXa)&*0'#< j1$31#,1B 4( &1=15013 [K GHG]K '$
%$$D8:ll"""<74*$*01<=45l"'$=%n,}3X5Jo^Oo?HN
^`< 9+1"'K 9< !GHGH-< ,5< !5 9)#& D')5 H541 =4)41# 9#?8 • 9'*+7 9+1"' • XQ&dN=N'8$13;<
j1$3#1,1B 4( &1=15013 [K GHG]K '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}"\/f/Iw~G~H
^_< 6138%2#1+BK 6< Q<K O4+B8$1#(K &< O<K )%'3D1K a< b<K b4dK P<K c17@1+#8K M<K C'38$1(81(K M< M<K |
I'#+1(84(K P< R< !GH]]-< A(=31'8#(E 8',#(E 01%',#43 $%34*E% 'E1YD34E31881B 31(B13#(E8 42 $%1
b*$*31 )1+2< N541'%? 58 V%1A#)*'- G#2#%1/"K ^\!)9M-K )GoY)o[<
^[< j*$=%#=@K /< N<K )+1D#'(K N< M<K j1718K N< k<K 9+18@*8K M< R<K | 6138%2#1+BK 6< Q< !GH]\-<
b*$*31 )1+2Y=4($#(*#$7 #8 '884=#'$1B "#$% #5D34,1B %1'+$% '(B #(=31'818 1d13=#81 01%',#43<
N541'%? 58 TL*>#')%? B2C/"5?5-C+ .&&?*#(K G^!]-K [G<
^\< m'( O1+B13K P< M<K 6138%2#1+BK 6< Q<K | R43BE31(K M< b< !GH]o-< m#,#B(188 42 $%1 b*$*31 )1+2
D31B#=$8 B1+#(W*1(=7< B2C/"5?5-*/%? 9/*#'/#K G^!_-K Z[^YZ\H<
^Z< m'( I13@*5K P< P< !GH]H-< X%1 03'#( #8 ' D31B#=$#4( 5'=%#(1 $%'$ ='318 '04*$ E44B '(B 0'BY
'(7 #5D+#='$#4(8 243 (1*34D3'E5'$#=8n D)%?*%' N541'%? 58 F*'-4*2)*/2K GGK ]\]YGH\<
`H< &1( k*B1(K 6< Q<K ?4@K 9<K | &1 M'(E1K b< 9< !GH]G-< 64" D31B#=$#4( 133438 8%'D1
D13=1D$#4(K '$$1($#4(K '(B 54$#,'$#4(< =15')*#12 *' B2C/"5?5-CK oK `^\<
`]< M4(EK X< M< !a3#$13-K | ?3*81K R< !=$43-< !GH]H-< UN4(17 I'3$V tX1+1,#8#4( 813#18
1D#84B1u< A( /< P1'(K P< b3#(@K P< M< I344@8K N< O341(#(EK N< )1+5'(K | )< )#54( !934B*=138-K
!"# 9*>&25'2<
`G< M1$$135'(K &< !]ZZ^-< N#11C 9#*'8#?(k;*-") $4CMV51'*'- $4C< /==1881B 4( k=$4013 ^K GHG]
'$ %$$D8:llJ133781#(21+B'3=%#,18<$*50+3<=45lD48$l]``^G\Z]]G[Gl(#E%$YE*7543(#(EYE*7Y
+1$$135'(Y]ZZ^
`o< 6138%2#1+BK 6< Q<K C4%1(K X< j<K | X%45D84(K M< !GH]G-< )%43$ %43#f4(8 '(B $15D$#(E
8#$*'$#4(8: M'=@ 42 =4($#(*#$7 $4 4*3 2*$*31 81+,18 +1'B8 $4 *(1$%#='+ B1=#8#4( 5'@#(E '(B
01%',#43< _1-%'*Z%)*5'%? @#"%0*51 %'( ,4>%' I#/*2*5' B15/#22#2K ]][ !G-K GZ\yo]H<
`^< O#+013$K &< !GH]o-< !"# B2C/"5?5-C 58 H541 =4)41# 9#?8< b#+51B GH]^ #( m'(=4*,13K IC< XQ&
,#B14K _:^Z< /==1881B 4( k=$4013 ^K GHG]K
%$$D8:ll"""<$1B<=45l$'+@8lB'(~E#+013$~$%1~D87=%4+4E7~42~74*3~2*$*31~81+2
``< b3'(@+K m< Q< !]Z\`-< V%'32 9#%1/" 851 V#%'*'-< )#54( | )=%*8$13<
`_< /(B138 Q3#=884(K ?< !GHH\-< &1+#013'$1 D3'=$#=1 '(B '=W*#8#$#4( 42 1dD13$ D132435'(=1: '
E1(13'+ 4,13,#1"< ./%(#>*/ T>#1-#'/C V#(*/*'#K ]`!]]-K Z\\YZZ^<
`[< Q3#=884(K /<K | 944+K j< !GH]_-< B#%A+ 9#/1#)2 815> )"# ;#< 9/*#'/# 58 TL)*2#< 64*E%$4(
N#22+#( 6'3=4*3$<
`\< )*BB1(B432K X<K I3#(*58K N<K | A5*$'K ?< !GH]_-< 9"%&*'- _'#32 =4)41# 9#?8+ !"#
I#0#?5&>#') 58 I#?*O#1%)# B1%/)*/#<
`Z< C4,17K )< j< !GH]o-< !"# ` ,%O*)2 58 ,*-"?C T88#/)*0# B#5&?#+ B5<#184? F#225'2 *' B#125'%?
7"%'-#< )#54( | )=%*8$13<
_H< 61031"8 ]]:]< ?#(E P'518 I#0+1<
_]< P4%(8$4(K a< /<K | &'3@K m< P< !]Z\_-< )1+1=$#,1 '$$1($#4(< .''4%? G#0*#< 58 B2C/"5?5-CK
o[!]-K ^oY[`<
_G< P'518K a< !]\_o-< B1*'/*&?#2 58 B2C/"5?5-C< &4,13 9*0+#='$#4(8K A(=<
_o< )%#((K b< )< !GHHZ-< !"# $%># 58 F*8# %'( ,5< )5 B?%C D)< 91(E*#(<
_^< &1$%513K P<K C%'D5'(K &<K | ?+15DK ?< !GH]^-< !"# QY 75>>*)>#')2 58 75'2/*542
F#%(#12"*&+ . ;#< B%1%(*-> 851 942)%*'%O?# 94//#22< C4(8=#4*8 M1'B138%#D O34*D<
=01B ?
]< O4B#(K )< !GH]G-< !"# D/%142 I#/#&)*5'+ ,5< ,*-" :*?? H54 =?C] 91(E*#(<
G< b3'(@+K m< Q< !]Z\`-< V%'32 9#%1/" 851 V#%'*'-< )#54( | )=%*8$13<
o< b3'(@+K m< Q< !]Z\`-< V%'32 9#%1/" 851 V#%'*'-< )#54( | )=%*8$13<
^< /3B1(K 9< !GHHo-< D)32 ;5) ,5< $55( H54 .1#6 D)32 ,5< $55( H54 :%') )5 @#< 9%'#B4( 93188<
`< b3'(@+K m< Q< !]Z\`-< V%'32 9#%1/" 851 V#%'*'-< )#54( | )=%*8$13<
_< I'*51#8$13K j< b<K | m4%8K ?< &< !GHHG-< X%1 D*38*#$ 42 51'(#(E2*+(188 #( +#21< ,%'(O55A 58
B52*)*0# B2C/"5?5-CK ]K _H\y_]\<
[< 934,1308 GZ:]\< ?#(E P'518 I#0+1<
\< &*=@"43$%K /< !GH]_-< $1*)+ !"# B5<#1 58 B%22*5' %'( B#12#0#1%'/#< R1" c43@K Rc:
)=3#0(13<
Z< j1#=%'3BK j< P<K /,17K P< I<K M4D1fK )<K | &4++"1$K N< !GH]o-< 6',#(E $%1 "#++ '(B 2#(B#(E $%1
"'7: / 31,#1" '(B 51$'Y'('+78#8 42 %4D1 '$ "43@< !"# N541'%? 58 B52*)*0# B2C/"5?5-CK \!^-K
GZGyoH^<
]H< X4(EK Q< N<K b31B3#=@84(K I< M<K C%'(EK a<K | M#5K r< x< !GH]H-< j11d'5#(#(E %4D1: X%1
34+18 42 'E1(=7 $%#(@#(E '(B D'$%"'78 $%#(@#(E< 75-'*)*5' %'( T>5)*5'K G^ ![-K ]GH[y]G]`<
]]< I37'($K b< I<K | C,1(E348K P< /< !GHH^-< $#(E*#8%#(E %4D1 '(B 4D$#5#85: X"4 8#B18 42 '
=4#(K 43 $"4 81D'3'$1 =4#(8n N541'%? 58 95/*%? %'( 7?*'*/%? B2C/"5?5-CK Go !G-K G[oyoHG<
]G< b#8=%13K A< C<K C3#D1K M< &<K | j'(BK ?< M< !GH]\-< 931B#=$#(E 875D$458 42 '(d#1$7 '(B
B1D3188#4( #( D'$#1($8 +#,#(E "#$% 'B,'(=1B ='(=13: X%1 B#22131($#'+ 34+18 42 %4D1 '(B
4D$#5#85< 94&&51)*0# 7%1# *' 7%'/#1K G_!]H-K o^[]yo^[[<
]o< b4"+13K &< j<K a1013K Q< R<K ?+'DD'K )< 9<K | N#++13K )< /< !GH][-< j1D+#='$#(E 2*$*31
43#1($'$#4(: A(,18$#E'$#(E $%1 =4(8$3*=$8 42 %4D1 '(B 4D$#5#85 '(B $%1#3 8*08='+18 $%34*E%
31D+#='$#4( '(B 1dD'(8#4(< B#125'%?*)C %'( D'(*0*(4%? I*88#1#'/#2K ]]_K GGyG\<
]^< C%'(EK Q< C< !]ZZ\-< 64D1K D340+15!84+,#(E '0#+#$7K '(B =4D#(E #( ' =4++1E1 8$*B1($
D4D*+'$#4(: )451 #5D+#='$#4(8 243 $%1437 '(B D3'=$#=1< N541'%? 58 7?*'*/%? B2C/"5?5-CK `^![-K
Z`oyZ_G<
]`< )(7B13K C< j<K M'94#($1K /< I<K P122317 C34"84(K P<K | Q'3+7K )< !]ZZ\-< 9312131(=18 42 %#E%Y
'(B +4"Y%4D1 D14D+1 243 81+2Y312131($#'+ #(D*$< 75-'*)*5' m T>5)*5'K ]G!_-K \H[y\Go<
]_< )(7B13K C< j<K )%4317K 6< )<K C%1',1(8K P<K 9*+,138K ?< N<K /B'58 AAAK m< 6<K | a#@+*(BK C<
!GHHG-< 64D1 '(B '='B15#= 8*==188 #( =4++1E1< N541'%? 58 T(4/%)*5'%? B2C/"5?5-CK Z^!^-K
\GH<
][< M1,#(1K 9< /< !]ZZ[-< :%A*'- )"# !*-#1+ ,#%?*'- !1%4>%+ !"# D''%)# 7%&%/*)C )5 !1%'2851>
_0#1<"#?>*'- TL*#'/#2< R43$% /$+'($#= I44@8<
]\< M#,#(E8$4(K O< !GHHZ-< !55 955' _?(6 !55 F%)# 9>%1)+ !"*1)C !14# !"*'-2 H54 ;##( )5 J'5<
;5<< &' C'D4 M#21+4(E I44@8<
]Z< b'*+@(13K a< !GH]]-< G#\4*#> 851 % ;4'< m#($'E1<
GH< )+#21K I< &< !]ZZo-< !*># %'( B2C/"5?5-*/%? TL&?%'%)*5'+ !"# 9&#/)%/?# 58 9&%*'32 !541*2)
@55> %'( )"# G#*'0#')*5' 58 I*88#1#'/#< );Rc 93188<
G]< X1B18=%#K j< O<K )%'@18D1'31Yb#(=%K P<K X'@*K ?<K | C'+%4*(K M< O< !GH]\-< B52))1%4>%)*/
$15<)"+ !"#51C6 G#2#%1/"6 %'( .&&?*/%)*5'2< j4*$+1BE1<
GG< )*++#,'(K &< | 6'3B7K I< !GHG]-< !"# $%& %'( )"# $%*'+ !"# ,*-" ./"*#0#123 $4*(# )5
75'8*(#'/#6 ,%&&*'#226 %'( 94//#22< 6'7 64*81 I*8#(188<
Go< j481($%'+K j<K | P'=4084(K M< !]Z_\-< 97E5'+#4( #( $%1 =+'883445< !"# U1O%' G#0*#<K o!]-K
]_yGH<
G^< I47BK j<K | N'=R1#++K R< !GHGH-< 64" X1'=%138e )1+2Yb*+2#++#(E 934D%1=#18K ?(4"( '8 $%1
97E5'+#4( Q221=$K A(2+*1(=1 )$*B1($8e )*==188< T(4/%)*5' !5(%CK G^<
G`< )f*58@#K O<K | ?'3"4"8@#K N< !GH]Z-< QdD+43#(E $%1 97E5'+#4( 1221=$: X%1 34+1 42 $1'=%13
1dD1=$'$#4(8K '='B15#= 81+2Y=4(=1D$K '(B =+'88 =4($1d$ #( 8$*B1($8e 5'$% '=%#1,151($<
75')#>&51%1C T(4/%)*5'%? B2C/"5?5-CK `ZK ]H][\[<
G_< I13E13K P< !GH]_-< D'0*2*O?# D'8?4#'/#+ !"# ,*((#' =51/#2 !"%) 9"%&# @#"%0*51< )#54( |
)=%*8$13<
G[< I43(8$1#(K j< b<K | &e'E48$#(4K 9< j< !]ZZG-< )$#5*+*8 31=4E(#$#4( '(B $%1 5131 1dD48*31
1221=$< N541'%? 58 B#125'%?*)C %'( 95/*%? B2C/"5?5-CK _o!^-K `^`<
G\< b'(EK x<K )#(E%K )<K | /%+*"'+#'K j< !GHH[-< /( 1d'5#('$#4( 42 B#22131($ 1dD+'('$#4(8 243 $%1
5131 1dD48*31 1221=$< N541'%? 58 75'24>#1 G#2#%1/"K o^!]-K Z[y]Ho<
GZ< I43(8$1#(K j< b<K | C3',13YM15+17K C< !GH]_-< N131 1dD48*31 1221=$< A( 75-'*)*0# D??42*5'2
!DD< G__yG\`-< 987=%4+4E7 93188<
oH< N43E1(8$13(K N<K A81(811K I<K | 6'(1"#(@1+K j< !GH]o-< )11#(E '(B +#@#(E =#E'31$$1
'B,13$#8151($8: #8 $%131 ' z5131 1dD48*31e1221=$n T415&#%' .((*/)*5' G#2#%1/"K ]Z!]-K ^Gy
^_<
o]< M'(E13K Q< P< !GH]^-< V*'(84?'#22< &' C'D4 M#21+4(E I44@8<
oG< O4+B85#$%K N<K | j1#$13K N< !GH]`-< !1*--#12+ 71#%)*'- @#"%0*51 !"%) F%2)2EE@#/5>*'- )"#
B#125' H54 :%') )5 @# !m4+< o[K R4< [-< C*331(=7<
oo< b3'(@+K m< Q< !]Z\`-< V%'32 9#%1/" 851 V#%'*'-< )#54( | )=%*8$13<
o^< M'(E13K Q< P< !GHHZ-< 754')#1/?5/A<*2#+ V*'(84? ,#%?)" %'( )"# B5<#1 58 B522*O*?*)C<
I'++'($#(1 I44@8<
o`< P4%(8$4(K a< /<K | &'3@K m< P< !]Z\_-< )1+1=$#,1 '$$1($#4(< .''4%? G#0*#< 58 B2C/"5?5-CK
o[!]-K ^oy[`<
o_< N'=@K /< !GHHo-< A('$$1($#4('+ 0+#(B(188: M44@#(E "#$%4*$ 811#(E< 7411#') I*1#/)*5'2 *'
B2C/"5?5-*/%? 9/*#'/#K ]G!`-K ]\Hy]\^<
o[< &*=@"43$%K /< !GH]_-< $1*)+ !"# B5<#1 58 B%22*5' %'( B#12#0#1%'/#W B%1) DDD+ $15<*'- $1*)
815> )"# _4)2*(# D'< R1" c43@K Rc: )=3#0(13<
o\< X%1 a11@1(B ;(#,138#$7< !GHG]-< !"# B2C/"5?5-C 58 H541 =4)41# 9#?8kB158#2251 ,%?
,#12"8*#?(< /==1881B 4( k=$4013 ^K GHG]K '$ %$$D8:ll"""<74*$*01<=45l"'$=%n
,}wIBA1C[bc@;
oZ< I+4*#(!6*B4(K Q< N< C<K | 97=%7+K X< /< !GH][-< / 51($'+ #5'E137 #($13,1($#4( $4 #(=31'81
b*$*31 )1+2!=4($#(*#$7 '(B 31B*=1 D34=3'8$#('$#4(< .&&?*#( B2C/"5?5-CK __!G-K oG_yo`G<
^H< m'( O1+B13K P< M<K M*=#'(4K Q< C<K a1*+1( ?3'(1(0'3EK N<K | 6138%2#1+BK 6< Q< !GH]`-<
b3#1(B8 "#$% 57 b*$*31 )1+2: M4(E#$*B#('+ ,#,#B(188 #($13,1($#4( 31B*=18 B1+#(W*1(=7<
71*>*'5?5-CK `o!G-K ]`\y][Z<
^]< `H C1($ | O311(1K j< !GHHZ-< !"# YS)" F%<< /5#8$'B<
^G< C'3B4(1K O< !GH]]-< !"# QS^ G4?#+ !"# _'?C I*88#1#'/# @#)<##' 94//#22 %'( =%*?41#< P4%(
a#+17 | )4(8<
^o< )#54(8K &< P<K | C%'03#8K C< b< !]ZZZ-< O43#++'8 #( 4*3 5#B8$: )*8$'#(1B #('$$1($#4('+ 0+#(B(188
243 B7('5#= 1,1($8< B#1/#&)*5'K G\!Z-K ]H`Zy]H[^<
^^< N'=@K /< !GHHo-< A('$$1($#4('+ 0+#(B(188: M44@#(E "#$%4*$ 811#(E< 7411#') I*1#/)*5'2 *'
B2C/"5?5-*/%? 9/*#'/#K ]G!`-K ]\Hy]\^<
^`< &713K a< a< !GH]H-< !"# B5<#1 58 D')#')*5'+ F#%1'*'- )5 75E71#%)# H541 :51?( H541 :%C<
6'7 64*81K A(=<
^_< /3B1(K 9< !GHHo-< D)32 ;5) ,5< $55( H54 .1#6 D)32 ,5< $55( H54 :%') )5 @#< 9%'#B4( 93188<
^[< 6'3B7K &< !GH]]-< !"# 75>&54'( T88#/)< m'(E*'3B 93188<
^\< j'$1K C< j<K C+'3@1K P< /<K M#(B8'7K &< j<K | )$13(013EK j< P< !GHH[-< A5D+#=#$ $%143#18 42
=4*3'E1< !"# N541'%? 58 B52*)*0# B2C/"5?5-CK G!G-K \HyZ\<
^Z< j'$1K C< j< !GH]H-< &12#(#(E $%1 21'$*318 42 =4*3'E1: / 81'3=% 243 51'(#(E< !"# B2C/"5?5-C
_8 7541%-#+ V5(#1' G#2#%1/" 5' %' .'/*#') i*1)4#K ^[K __<
`H< 6'"@#(8K &< j< !GH]^-< 94"13 m8< b43=1: X%1 6#BB1( &1$135#('($8 42 6*5'( I1%',#43< 6'7
64*81K A(=<
`]< a'+8%K I<K P'5#84(K )<K | a'+8%K C< !GHHZ-< !"# 9/51# !%A#2 7%1# 58 D)2#?8+ VC B"*?525&"C 58
F#%(#12"*&< 91(E*#(<
`G< 61(B3#=@8K O<K | 61(B3#=@8K O< !GHHZ-< !"# @*- F#%&< 6'3D13C4++#(8<
`o< N=?14"(K O< !GH]^-< T22#')*%?*2>+ !"# I*2/*&?*'#( B4124*) 58 F#22< C*331(=7<
`^< I3'*+$K j< !GH]^-< G54'( U& !"# U24%? 94OK#/)2+ !"54-")2 _' N42) .O54) T0#1C)"*'-<
``< 64D2K O< N< !GH]_-< !"52# :"5 G#>%*'+ . B52)%&5/%?C&)*/ ;50#? e!"# ;#< :51?( 9#1*#2
@55A `g< C31'$1)D'=1 A(B1D1(B1($ 9*0+#8%#(E 9+'$2435<
`_< &*3'($K a<K | &*3'($K /< !GH]G-< !"# F#225'2 58 ,*2)51C< )#54( | )=%*8$13<
`[< &'+#4K j< !GHG]-< B1*'/*&?#2 851 I#%?*'- <*)" )"# 7"%'-*'- :51?( _1(#1+ :"C ;%)*5'2
94//##( %'( =%*?< )#54( | )=%*8$13<
`\< P'518 ]:\< ?#(E P'518 I#0+1<
=01B H
]< b3'(@+K m< Q< !]Z\`-< V%'32 9#%1/" 851 V#%'*'-< )#54( | )=%*8$13<
G< UO31'$18$ 3400137 42 ' O4,13(51($V< O*#((188 a43+B j1=43B8< j1$3#1,1B &1=15013 G]K GHG]
'$
%$$D:ll"10<'3=%#,1<43El"10lGHGGHoH_GGHGG^l%$$D8:ll"""<E*#((188"43+B31=43B8<=45l"43+BY
31=43B8l_`_H[YE31'$18$Y3400137Y42Y'YE4,13(51($
o< &*3'($K a<K | &*3'($K /< !GH]G-< !"# F#225'2 58 ,*2)51C< )#54( | )=%*8$13<
^< C%'3+$4(K a<K | 6*8817K Q< !]ZZZ-< .1*2)5)?# B"C2*/2 @55A iDDD ei5?W cg< kd243B ;(#,138#$7
93188<
`< X*3(0*++K j< O< !]Z`\-< /3#8$4$+1e8 &10$ $4 $%1 zR'$*3'+ 9%#+484D%7e 42 $%1 9%'1B4<
B"*?525&"*/%? n4%1)#1?CK \K ]o]y]^o<
_< )=%'3+1K N< !GHH\-< Q+151($'+ X1+14+4E7 #( /3#8$4$+1e8 9%78#=8 AA \< _L851( 9)4(*#2 *' .'/*#')
B"*?525&"CK o^K ]^[y]\^<
[< I413#K N< &< !]ZZ`-< C%'(E1 '(B X1+14+4E7 #( /3#8$4$+1 9%78#=8< D')#1'%)*5'%? B"*?525&"*/%?
n4%1)#1?C6 o^K \[yZ_<
\< C%'3+18K &< !]ZZ]-< X1+14+4E#='+ C'*8'$#4( #( $%1 9%78#=8K #( M< P*B84( !1B<-K .1*2)5)?#32
B"C2*/2+ . 75??#/)*5' 58 T22%C2< kd243B: kd243B ;(#,138#$7 93188K ]H]y]G\<
Z< C%'3+18K &< !GH]G-< X1+14+4E#='+ C'*8'$#4(K #( C< )%#1+B8 !1B<-K !"# _L851( ,%'(O55A 58
.1*2)5)?#< kd243B: kd243B ;(#,138#$7 93188K GG[yG__<
]H< j481(0+*1$%K /<K a#1(13K R<K | I#E1+4"K P< !]Z^o-< I1%',#43K D*3D481 '(B $1+14+4E7<
B"*?525&"C 58 9/*#'/#K ]H!]-K ]\yG^<
]]< X%#1+K 9< /<K | N'8$138K I< !GH]^-< P#15 )5 _'#+ ;5)#2 5' 9)%1)4&26 51 ,5< )5 @4*?( )"#
=4)41#< C*331(=7<
]G< C+1'3K P< !GH]\-< .)5>*/ ,%O*)2+ !*'C 7"%'-#26 G#>%1A%O?# G#24?)2+ .' T%2C m B150#' :%C
)5 @4*?( $55( ,%O*)2 m @1#%A @%( _'#2< /,137<
]o< 64"18K M< !GH]\-< N%>#2 7?#%1+ 94//#22 ,%O*)2+ !"# B150#' :%C )5 ./"*#0# H541 I1#%>2<
j1$3#1,1B 4( &1=15013 oHK GHG] '$ %$$D8:ll+1"#8%4"18<=45lD4B='8$l$%1YD34,1(Y"'7Y$4Y
'=%#1,1Y74*3YB31'58"#$%YJ'518Y=+1'3l
]^< C+1'3K P< !GH]Z-< cEdEQ+ _' 2C2)#>2 02W -5%?26 #'(*'-26 %'( )"# *>&51)%'/# 58 ?#0#1%-#<
j1$3#1,1B 4( P'(*'37 ]]K GHGGK '$ %$$D8:llJ'518=+1'3<=45loYGY]lB1=15013Yo]YGHGH
]`< 913$$*+'K /<K ?##+#K ?<K M#(B8$1B$K /<K | X*45#K 9< !GH][-< b+4" 1dD13#1(=1 #( E'51 0'81B
+1'3(#(ET' 878$15'$#= +#$13'$*31 31,#1"< D')#1'%)*5'%? N541'%? 58 9#1*542 $%>#26 X!]-<
]_< C8#@8f1($5#%'+7#K N<K /0*%'5B1%K )<K | R'@'5*3'K P< !GH]^-< =?5< %'( )"# =54'(%)*5'2 58
B52*)*0# B2C/"5?5-C< GG[yGo\< )D3#(E13K &43B31=%$<
][< ?4$+13K )< !GH]^-< !"# G*2# 58 94>%'+ I#/5(*'- )"# 9/*#'/# 58 U?)*>%)# ,4>%'
B#1851>%'/#< 64*E%$4( N#22+#( 6'3=4*3$<
]\< b3'(@+K m< Q< !]Z\`-< V%'32 9#%1/" 851 V#%'*'-< )#54( | )=%*8$13<
]Z< O#+013$K &< !GH]^-< !"# B2C/"5?5-C 58 C541 =4)41# 9#?8< XQ& X'+@<
GH< O#+013$K &< !GHH_-< 9)4>O?*'- U&5' ,%&&*'#22< ?(4D2<
G]< O#+013$K &< !GH]^-< !"# B2C/"5?5-C 58 C541 =4)41# 9#?8< XQ& X'+@<
GG< O#+013$K &< !GH]^-< !"# B2C/"5?5-C 58 C541 =4)41# 9#?8< XQ& X'+@<
Go< w*4#B0'=%K P<K O#+013$K &< X<K | a#+84(K X< &< !GH]o-< X%1 1(B 42 %#8$437 #++*8#4(< 9/*#'/#6
cco!_]]`-K Z_yZ\<
G^< 6'33#8K 6<K | I*8813#K N< /< !GH]Z-< A8 $%131 '( z1(B 42 %#8$437 #++*8#4(e 243 +#21 8'$#82'=$#4(n
Q,#B1(=1 2345 ' $%311Y"',1 +4(E#$*B#('+ 8$*B7< N541'%? 58 G#2#%1/" *' B#125'%?*)CK \oK
]Ho\_Z<
G`< &"1=@K C< )< !GHH\-< V*'(2#)+ !"# ;#< B2C/"5?5-C 58 94//#22< j'(B45 64*81 &#E#$'+K A(=<
G_< Q#(8$1#(K /< !GH]H-< !"# U?)*>%)# n45)%O?# T*'2)#*'< 93#(=1$4( ;(#,138#$7 93188<
G[< k+84(K P< !GH]o-< !"# 9?*-") T(-#< O311(+1'2 I44@ O34*D<
G\< )#$f5'((K X<K | c14K O< !GH]o-< / 51$'!'('+7$#= #(,18$#E'$#4( 42 $%1 "#$%#(!D1384( 81+2!
122#='=7 B45'#(: A8 81+2!122#='=7 ' D34B*=$ 42 D'8$ D132435'(=1 43 ' B3#,13 42 2*$*31
D132435'(=1n B#125''#? B2C/"5?5-CK __!o-K `o]y`_\<
GZ< b4EEK IP !GHGH-< !*'C ,%O*)2+ !"# 9>%?? 9"%'-#2 !"%) 7"%'-# T0#1C)"*'-< 64*E%$4( N#22+#(
6'3=4*3$<
oH< I13@K M< Q< !GH]H-< TL&?51*'- F*8#2&%' I#0#?5&>#') ed'( #(Wg< o]^< 91'384( QB*='$#4( A(=<
o]< 6'3B7K I< !GH]_-< I5#2 D) !%A# 7541%-# )5 9)%1) % @42*'#22]
oG< I4B(13K j<K | 931+1=K &< !GHHo-< )1+2Y8#E('+#(E '(B B#'E(48$#= *$#+#$7 #( 1,137B'7 B1=#8#4(
5'@#(E< !"# B2C/"5?5-C 58 T/5'5>*/ I#/*2*5'26 Q!]H`-K G_<
oo< 6'"@#(8K &< j< !GH]^-< F#))*'- $5+ !"# B%)"<%C 58 9411#'(#1< 6'7 64*81K A(=<
o^< I'13K &< !GH]o-< ,5< .1*%''% ,488*'-)5' '#)<51A2 <*)"54) '#)<51A*'-< b'8$ C45D'(7<
j1$3#1,1B 4( P*(1 oK GHG]K '$ %$$D8:ll"""<2'8$=45D'(7<=45loH]\oH[l%4"Y'3#'(('Y
%*22#(E$4(Y(1$"43@8Y"#$%4*$Y(1$"43@#(E
o`< b133#88K X< !GH][-< !55?2 58 !*)%'2+ !"# !%/)*/26 G54)*'#26 %'( ,%O*)2 58 @*??*5'%*1#26 D/5'26
%'( :51?(E7?%22 B#1851>#12< 64*E%$4( N#22+#(<
o_< )4*5'(K P< M<K b3#881(K A<K )311(#,'8'K N< R<K | Q3(8$K N< k< !GHHZ-< a'+@#(E 8$3'#E%$ #($4
=#3=+18< 7411#') @*5?5-CK ]Z!]\-K ]`o\y]`^G<
o[< N'd 9+'(@ A(8$#$*$1< !GHHZ-< :%?A*'- *' /*1/?#2 9/*#')*2)2 815> !pO*'-#' 2"5< )"%) &?#
1#%??C <%?A *' /*1/?#2 <"#' ?52)< N'd 9+'(=@ A(8$#$*$1 243 I#4+4E#='+ C7013(1$#=8< /==1881B 4(
k=$4013 _K GHG] '$ %$$D8:ll"""<5DE<B1l`Z_G_ZlD3188j1+1'81GHHZH\][]
o\< N'd 9+'(@ A(8$#$*$1< !GHHZ-< :%?A*'- *' /*1/?#2+ 9/*#')*2)2 815> !pO*'-#' 2"5< )"%) &?#
1#%??C <%?A *' /*1/?#2 <"#' ?52)< N'd 9+'(=@ A(8$#$*$1 243 I#4+4E#='+ C7013(1$#=8< /==1881B 4(
k=$4013 _K GHG] '$ %$$D8:ll"""<5DE<B1l`Z_G_ZlD3188j1+1'81GHHZH\][]
oZ< 643#E451K c< !GH]Z-< H4)5 ,51*-5># q G*2*'- F#-#'( 58 N%&%'#2# 9A%)#O5%1(#1< j1$3#1,1B
4( P'(*'37 ]HK GHGG '$ %$$D8:ll"""<74*$*01<=45l"'$=%n,}b'OP0j6*#xH|$
^H< 643#E451K c< !GHG]-< ,51*-5># H4)5+ ,*2 2)51C %'( )"# 15%( )5 )"# !5AC5 dSdS _?C>&*/2<
j1$31#,1B 4( P'(*'37 ]HK GHGGK '$ %$$D8:ll4+75D#=8<=45l1(l(1"8l%43#E451Y7*$4Y%#8Y8$437Y
'(BY$%1Y34'BY$4Y$%1Y$4@74YGHGHY4+75D#=8
^]< a'#$f@#(K P< !GHH\-< !"# .1) 58 F#%1'*'-+ .' D''#1 N541'#C )5 _&)*>%? B#1851>%'/#< )#54(
| )=%*8$13<
^G< a'#$f@#(K P< !GHH\-< !"# .1) 58 F#%1'*'-+ .' D''#1 N541'#C )5 _&)*>%? B#1851>%'/#< )#54(
| )=%*8$13<
^o< N4438K /<K | &1 64*"13K P< !GHH_-< /*$45'$#=#$7: ' $%1431$#='+ '(B =4(=1D$*'+ '('+78#8<
B2C/"5?5-*/%? @4??#)*'K ]oG!G-K GZ[<
^^< ?+€=@(13K C< /<K | m13D+'(@1(K I< !GH]\-< c18$13B'7e8 %'0#$8 D31,1($#(E =%'(E1 243
$454334"n /04*$ $%1 #(2+*1(=1 42 '*$45'$#=#$7 4( 1(,#34(51($'+ 01%',#43< T'0*15'>#')%?
B2C/"5?5-C+ .' D')15(4/)*5'K Go\yG`H<
^`< Q3#=884(K /<K | 944+K j< !GH]_-< B#%A+ 9#/1#)2 815> )"# ;#< 9/*#'/# 58 TL)*2#< j'(B45
64*81<
^_< /(B138 Q3#=884(K ?< !GHH\-< &1+#013'$1 D3'=$#=1 '(B '=W*#8#$#4( 42 1dD13$ D132435'(=1: '
E1(13'+ 4,13,#1"< ./%(#>*/ T>#1-#'/C V#(*/*'#K ]`!]]-K Z\\yZZ^<
^[< )*BB1(B432K X<K I3#(*58K N<K | A5*$'K ?< !GH]_-< 9"%&*'- _'#32 =4)41# 9#?8+ !"#
I#0#?5&>#') 58 I#?*O#1%)# B1%/)*/#<
^\< a'#$f@#(K P< !GHH\-< !"# .1) 58 F#%1'*'-+ .' D''#1 N541'#C )5 _&)*>%? B#1851>%'/#< )#54(
| )=%*8$13<
^Z< b133#88K X< !GHGH-< N52" :%*)ZA*' 5' @#-*''#132 V*'(6 9#?8E./)4%?*Z%)*5'6 %'( .(0*/# 815>
H541 =4)41# 9#?8 ehXQdg< j1$3#1,1B 4( P'(*'37 ]]K GHGGK '$ %$$D8:ll$#5<0+4ElGHGHlHGlG[lJ48%Y
"'#$f@#(Y01E#((138Y5#(BY81+2Y'=$*'+#f'$#4(Y'B,#=1Y2345Y74*3Y2*$*31Y81+2l
`H< b133#88K X< !GHG]-< N52" :%*)ZA*' %'( !*> =#11*22 5' !"# 7%0# B15/#226 .(0*/# 815> =4)41#
9#?0#26 %'( !1%*'*'- 851 %' U'/#1)%*' =4)41# ehXoRg< j1$3#1,1B 4( P'(*'37 ]]K GHGGK '$
%$$D8:ll$#5<0+4ElGHG]lHGl]_lJ48%Y"'#$f@#(YGl
`]< b133#88K X< !GHGH-< !"# !*> =#11*22 9"5< !1%'2/1*&)2+ N52" :%*)ZA*' 5' @#-*''#132 V*'(6 9#?8E
./)4%?*Z%)*5'6 %'( .(0*/# 815> H541 =4)41# 9#?8 ehXQdg< j1$3#1,1B 4( P'(*'37 ]HK GHGGK '$
%$$D8:ll$#5<0+4ElGHGHlHol]^lJ48%Y"'#$f@#(Y$3'(8=3#D$Y^]Gl
`G< )#,138K &< !GHG]-< ,5< )5 F*0#+ d` /5'8?*/)*'- %'2<#12 %'( 5'# <#*1( /5'/?42*5'< !D< `G-< 6#$
51B#'< j1$3#1,1B 4( P'(*'37 ]HK GHGGK '$ %$$D8:ll8#,1<38l%
`o< )%'@18D1'31K a< !]ZZ]-< ,%>?#):t]_H^u< kd243B X1d$ /3=%#,1 C431 C4++1=$#4(<
`^< 6#$+13K /< !GHG]-< V#*' J%>&8< &#'54(B 94=@1$ I44@8 9,$ M$B<
``< 931882#1+BK )< !GHHG-< !"# :%1 58 .1)+ @1#%A !"154-" !"# @?5/A2 %'( :*' C541 D''#1 71#%)*0#
@%))?#2< I+'=@ A3#8% Q($13$'#(51($ MMC<
`_< b133#88K X< !GH]`-< I#1#A 9*0#12 G#?5%(#( r _' 94//#22 ,%O*)2 %'( @*??*5'%*1#2 <*)" B#18#/)
.O2 ehQdRg< j1$3#1,1B 4( P'(*'37 ]HK GHGGK '$ %$$D8:ll$#5<0+4ElGH]`l]GlG\lB131@Y8#,138Y
31+4'B1BY4(Y8*==188Y%'0#$8Y'(BY0#++#4('#318Y"#$%YD1321=$Y'08l
`[< O'+,#(K I< N<K j'(B1+K /< Q<K C4++#(8K I< P<K | P4%(84(K j< Q< !GH]\-< C%'(E#(E $%1 24=*8 42
+4=*8 !42 =4($34+-: / $'3E1$1B 31,#1" 42 $%1 +4=*8 42 =4($34+ +#$13'$*31 '(B 'E1(B' 243 2*$*31
3181'3=%< N541'%? 58 _1-%'*Z%)*5'%? @#"%0*51K oZ![-K \GHy\oo<
`\< P'=408YM'"84(K P< N<K a'BB1++K Q< M<K | a100K /< ?< !GH]]-< 931B#=$438 42 %1'+$% +4=*8 42
=4($34+ #( 4+B13 'B*+$8< 7411#') B2C/"5?5-CK oH!G-K ][oy]\o<
`Z< I1('88#K m< /<K )"11(17K 9< &<K | &*24*3K C< M< !]Z\\-< A8 $%131 ' 31+'$#4( 01$"11( +4=*8 42
=4($34+ 43#1($'$#4( '(B B1D3188#4(n< N541'%? _8 .O'51>%? B2C/"5?5-CK Z[!o-K o`[<
_H< 9#((4=@K C< 6<K j#=1K j<K )'(B138K P<K 6'8@13K a<K | I'8#(E13K &< !GH]H-< !"# _&#''#22 58
$5(+ . @*O?*/%? 7"%??#'-# )5 )"# !1%(*)*5'%? U'(#12)%'(*'- 58 $5(< A($13m'38#$7 93188<
_]< /=$8 ][:GZ< ?#(E P'518 I#0+1<
_G< j45'(8 \:]_y][< ?#(E P'518 I#0+1<
_o< a'++K N< !GH]\-< :#31# B15O%O?C F*0*'- *' % 9*>4?%)*5'6 T?5' V42A 9%C2< )D'=1<=45<
j1$3#1,1B 4( k=$4013 _K GHG] '$ %$$D8:ll"""<8D'=1<=45l^][^ZY1+4(Y5*8@Y+#,#(EY#(Y
8#5*+'$#4(Y34E'(YD4B='8$<%$5+
_^< C'3$13Y)=4$$K C< !]ZZ\-< D8 F*8# D2 % $%>#6 !"#2# .1# )"# G4?#2< 6'354(7<
_`< O1(18#8 ]:G[< ?#(E P'518 I#0+1<
__< )(4"K Q< !]\^`-< Q+#f' j< )(4"K UN7 b'$%13 #( 61',1(KV k=$4013 ]\^`< j1$3#1,1B 4(
P'(*'37 ]]K GHGGK '$ %$$D8:ll"""<=%*3=%%#8$43#'(8D3188<43El$%1Y2#38$Y2#2$7Y71'38Y42Y31+#12Y
84=#1$7lD'3$Y]l]Y]^
_[< k+84(K j< Q< !GHH[-< &1#2#='$#4( #( =4($15D43'37 $%14+4E7< !"#5?5-C !5(%C6 f^!G-K ]\_yGHH<
_\< 6'++4(8$1(K O< !GHH[-< X%148#8 #( j1=1($ j181'3=%: / j1(1"'+ 42 A($1318$ '(B ' R11B 243
C+'3#$7< B%1)%A#12 58 )"# I*0*'# ;%)41#W !"# ,*2)51C %'( I#0#?5&>#') 58 I#*8*/%)*5' *' )"#
7"1*2)*%' !1%(*)*5'2<
_Z< ?%'3+'54,K m< !QB<-< !GH]]-< !"#52*2+ I#*8*/%)*5' *' 7"1*2)*%' !"#5?5-C6 i5?4># !<5 ei5?W
QYfg< a#D2 '(B )$4=@ 9*0+#8%138<
[H< A31('1*8K /B,138*8 6'131818 !A31('1*8 /E'#(8$ 61318#18-K 044@ ^K =%'D$13 o\K #( X%1
/D48$4+#= b'$%138K P*8$#( N'3$73K A31('1*8K ,4+< ] 42 .')#E;*/#'# =%)"#12+ !"# :1*)*'-2 58 )"#
=%)"#12 I5<' )5 .WIW cdYK 1B< /+1d'(B13 j4013$8 '(B P'518 &4('+B84( !91'04B7K
N'88'=%*81$$8: 61(B3#=@84( 9*0+#8%138K ]ZZ^-K `GG<
[]< A31('1*8K /B,138*8 6'131818 !A31('1*8 /E'#(8$ 61318#18-K 044@ `K =%'D$13 o_K #( ,4+< ]K !"#
.&52)5?*/ =%)"#12K `_[<
[G< M1"#8< C< )< !]Z_H-< UC4*($#(E $%1 C48$KV V#1# 7"1*2)*%'*)C< R1" c43@: N'=5#++'(K ][^y[`<
[o< )5#$%K Q<K . P4(18K /< !]\H`-< ?(4" X%1( X%'$ Q,137 )4*+ A8 b311< j1$3#1,1B 4( P'(*'37 ]GK
GHGGK '$ %$$D8:ll"""<=%*3=%42J18*8=%3#8$<43El5*8#=l+#03'37l%75(8l@(4"Y$%#8Y$%'$Y1,137Y84*+Y
#8Y2311
=01B I
]< )1E'++K ?< !GH]o-< D'2%'#?C 9*>&?#+ !"# _O2#22*5' !"%) I1*0#2 .&&?#32 924//#22< 91(E*#(<
G< A8''=84(K a< !GH]]-< 9)#0# N5O2< )#54( | )=%*8$13<
o< N=?14"(K O< !GH]^-< T22#')*%?*2>+ !"# I*2/*&?*'#( B4124*) 58 F#22< C*331(=7<
^< M*=1K C< I< !]Zo]-< )$*221B )%#3$8 07 C+'31 I44$%1 I34@'"< C%'D$13 ][: 9'5O26 ;#< 9)C?#K
w*4$1 9'E1 GoZK 643'=1 M#,13#E%$K R1" c43@<
`< b3'(@+K m< Q< !]Z\`-< V%'32 9#%1/" 851 V#%'*'-< )#54( | )=%*8$13<
_< C4++#(8K P< !GHH]-< $55( )5 $1#%)+ :"C 95># 75>&%'*#2 V%A# !"# F#%& %'( _)"#12 I5'3)<
6'3D13I*8#(188<
[< &1$%513K P<K C%'D5'(K &<K | ?+15DK ?< !GH]^-< !"# QY 75>>*)>#')2 58 75'2/*542
F#%(#12"*&+ . ;#< B%1%(*-> 851 942)%*'%O?# 94//#22< C4(8=#4*8 M1'B138%#D O34*D<
\< M'"+13 AAAK Q< Q<K | )*$$+1K P< M< !]Z[o-< QdD1=$'(=7 $%1437 '(B J40 01%',#43< _1-%'*Z%)*5'%?
@#"%0*51 %'( ,4>%' B#1851>%'/#K Z!o-K ^\Gy`Ho<
Z< 6'"@#(8K &< j< !GH]^-< B5<#1 02W =51/#+ !"# ,*((#' I#)#1>*'%')2 58 ,4>%' @#"%0*51< 6'7
64*81K A(=<
]H< )%#((K b< )< !GHHZ-< !"# $%># 58 F*8# %'( ,5< )5 B?%C D)< 91(E*#(<
]]< 6#++K R< !GHGH-< !"*'A %'( $15< G*/"+ !"# _1*-*'%? 7?%22*/< X%#3B N#++1((#*5 93188<
]G< /++1(K P< !GHH\-< .2 % V%' !"*'A#)"< C31'$1 )D'=1 A(B1D1(B1($ 9*0+#8%#(E 9+'$2435<
]o< I13@K M< Q< !GH]H-< TL&?51*'- F*8#2&%' I#0#?5&>#') !G(B 1B<-< 9E< o]^< 91'384( QB*='$#4(
A(=<
]^< C4,17K )< j< !GH]o-< !"# ` ,%O*)2 58 ,*-"?C T88#/)*0# B#5&?#+ B5<#184? F#225'2 *' B#125'%?
7"%'-#< )#54( | )=%*8$13<
]`< )%1(@K P< a< !GH]^-< B5<#12 58 !<5+ =*'(*'- )"# T22#'/# 58 *''50%)*5' *' 71#%)*0# B%*12<
64*E%$4( N#22+#( 6'3=4*3$<
]_< aP)K D< ]`<
][< j1=4++1=$#4( 42 P4%( M75'( )5#$% #( PA !N'3=% ]`K ]\ZG-: ][G<
]\< N'B81(K X< !]Z[\-< P481D% )5#$% M1=$*31 G: P481D%e8 91384('+#$7 '(B C%'3'=$13< Ic;
)D11=%18< j1$3#1,1B 4( P'(*'37 `K GHGGK '$ %$$D8:ll8D11=%18<07*<1B*l$'+@8l$3*5'(YEY
5'B81(lJ481D%Y85#$%8YD1384('+#$7Y'(BY=%'3'=$13l
]Z< N1#81+K /< !GH]^-< F#22 I5*'-6 V51# F*0*'-+ V%A# T0#1C)"*'- *' F*8# T%2*#1< X'3=%13913#E11<
GH< )=%"'3$fK I< !GHH^K P'(*'37-< !"# B%1%(5L _8 7"5*/#+ :"C V51# *2 F#22W R1" c43@: Q==4<
G]< N=?14"(K O< !GH]^-< T22#')*%?*2>+ !"# I*2/*&?*'#( B4124*) 58 F#22< C*331(=7<
GG< 61(B3#=@8K O<K | 61(B3#=@8K O< !GHHZ-< !"# @*- F#%&< 6'3D13C4++#(8<
Go< )#,138K &< !GH]`-< I#1#A 9*0#12 5' I#0#?5&*'- 75'8*(#'/#6 =*'(*'- ,%&&*'#226 %'( 9%C*'-
s;5t )5 V*??*5'2 ehQdYg< X%1 X#5 b133#88 )%4"< j1$3#1,1B 4( &1=15013 _K GHG]K '$
%$$D8:ll$#5<0+4ElGH]`l]Gl]^lB131@Y8#,138Y4(YB1,1+4D#(EY=4(2#B1(=1Y2#(B#(EY%'DD#(188Y'(BY
8'7#(EY(4Y$4Y5#++#4(8l
G^< )*++#,'(K &< | 6'3B7K I< !GHGH-< :"5 ;5) ,5<+ !"# =51>4?% )5 ./"*#0# @*--#1 $5%?2
!"154-" .//#?#1%)*'- !#%><51A< 6'7 64*81 I*8#(188<
G`< 61(B3#=@8K O<K | 61(B3#=@8K O< !GHHZ-< !"# @*- F#%&< 6'3D13C4++#(8<
G_< )4((1($'EK )< !GH]G-< 987=%4+4E#='+ B1$'=%51($ 2345 "43@ B*3#(E +1#8*31 $#51: X%1 01(12#$8
42 51($'++7 B#81(E'E#(E 2345 "43@< 7411#') I*1#/)*5'2 *' B2C/"5?5-*/%? 9/*#'/#6 dQ!G-K
]]^y]]\<
G[< ?'3'0#(8@#K X<K 6'*(K m< C<K Rs04+BK /<K a1(B8=%1K P<K | a1EE1K P< !GHG]-< A($13,1($#4(8 243
#5D34,#(E D87=%4+4E#='+ B1$'=%51($ 2345 "43@: / 51$'Y'('+78#8< N541'%? 58 _//4&%)*5'%?
,#%?)" B2C/"5?5-C6 df!o-K GG^<
G\< 931882#1+BK )< !GHHG-< !"# :%1 58 .1)+ @1#%A !"154-" )"# @?5/A2 %'( :*' H541 D''#1 71#%)*0#
@%))?#2< I+'=@ A3#8% Q($13$'#(51($ MMC<
GZ< C4++#(8K P< !GHH]-< $55( )5 $1#%)+ :"C 95># 75>&%'*#2 V%A# )"# F#%& %'( _)"#12 I5'3)<
6'3D13I*8#(188<
oH< b133#88K X< !GH]^-< X%1 X#5 b133#88 )%4": A($13,#1" "#$% 91$13 X%#1+K I#++#4('#31 A(,18$43 '(B
C45D'(7 C31'$43 !vG\-< j1$3#1,1B 4( P'(*'37 ]]K GHGGK '$ %$$D8:ll$#5<0+4ElGH]^lHZlHZlD1$13Y
$%#1+l
o]< O4B#(K )< !GH]H-< )1$% O4B#(: X%1 X3*$% /04*$ )%#DD#(E< ZZ&18#E(8< j1$3#1,1B 4( P'(*'37
]]K GHGG '$ %$$D8:llZZ*<'B401<=45l'3$#=+18l_G^Zl81$%YE4B#(Y$%1Y$3*$%Y'04*$Y8%#DD#(E
oG< O4B#(K )< !]ZZZ-< B#1>*22*5' V%1A#)*'-+ !41'*'- 2)1%'-#12 *')5 81*#'(2 %'( =1*#'(2 *')5
742)5>#12< )#54( | )=%*8$13<
oo< O4B#(K )< !GHHo-< B41&?# 75<+ !1%'2851> H541 @42*'#22 OC @#*'- 1G#>%1A%O?#< 943$24+#4<
o^< O4B#(K )< !GHH[-< !"# I*&+ . F*))?# @55A !"%) !#%/"#2 H54 :"#' )5 n4*) e%'( :"#' !5 9)*/Ag<
943$24+#4<
o`< O4B#(K )< !GHH\-< !1*O#2+ :# ;##( H54 )5 F#%( U2< 91(E*#(<
o_< O3'($K /< !GHG]-< !"*'A .-%*'+ !"# B5<#1 58 J'5<*'- :"%) H54 I5'3) J'5<< m#@#(E<
M4N3E;C<4N
]< b348$K j< !]Z`G-< N1( 42 b'#$% 07 9%#+#D 6'50*3E13< )$'3$ 9'E1 ]_[K w*4$1 9'E1 ]_ZK X%1
R1" c43@13 N'E'f#(1 A(=<K R1" c43@< j1$3#1,1B 4( P'(*'37 ]oK GHGGK '$
%$$D8:llW*4$1#(,18$#E'$43<=45lGHGHlH`lH^l04+Bl
'#)%C
!
'==1D$'(=1K ]`Hy]`G
/B'58K P4%(K Z
'B'D$'$#4(K G\yGZ
'BB#=$#4(K \\
/B+13K /+231BK G
'E1(=7l'E1(=7 $%#(@#(EK ddK ]GK ]]`
'EE3188#,1 =45D+1$#4(K ][`y]\]
'E3#=*+$*3'+ 8$'E1K ``y`_
/++1(K P'518K ]`G
/DD+1K ]G_y]G\
'DD+#1B +1'3(#(EK ^Z
'DD34'=% 54$#,'$#4(8l=4*3'E1K dd###K dd,K ^[y^\
/W*#(4K I1(#E(4K P3< !UR#(47V-K _Gy_`
/W*#(4K C437K _Gy_\
/3B1(K 9'*+K [K ^^
'31('K (4$ 01#(E #(K ^`y`HK ]H[
/3#8$4$+1K _ZK [H
.1) 58 .2A*'-6 !"# !9'+513-K ]`\y]`Z
.1) 58 F#%1'*'-6 !"# !a'#$f@#(-K ]HG
.2 . V%' !"*'A#)" !/++1(-K ]`G
'8@#(E 243 "%'$ 74* "'($K ]`[y]_G
.)5>*/ ,%O*)2 !C+1'3-K [^
'$$1($#4(K 81+1=$#,1K ddd,#K G\K ^oy^^
'$$#$*B18
B12#(#$1K [o
#(B12#(#$1K [o
/*8=%"#$fYI#3@1('*K ^
'*$45'$#=#$7K ]Hoy]H^
'*$45'$#4(K ]_oy]_\
',4#B 54$#,'$#4(8l21'3K dd###ydd,
',4#B'(=1K ]oK ][
%
I'3@13K N#=%'1+K ]_
I'*51#8$13K j47K Zy]H
I1'$+18K `G
01+#128K #5D'=$ 42K ]]oy]G]
I13E1(YI1+81(K ^
I13E13K P4('%K G`
I#0+1K ddd,#K `[K ]`[
@*- F#%&6 !"# !61(B3#=@8-K ][]
0+#(B(188K #('$$1($#4('+K ^oy^^
I3'B7K X45K ^_
I3'(84(K j#=%'3BK ]]G
I3'*+$K j4013$K `^K ]]]K ]^]
I3#(*58K N1+#88'K ]H`
I34"13K M11K ]\[
I*221$$K a'331(K `]
@4))#18?C T88#/)6 !"#K ]__
M
C'3B4(1K O3'($K ^Gy^o
C'3$13Y)=4$$K C%13#1K ]]_y]][
C'$4K ^[
=%'(E1K *(B1318$#5'$#4( 42K [\y[Z
C%'D5'(K &#'('K ddd,###K ]^oy]^^
C%3#8$1(81(K C+'7$4(K ]^^
=#3=+18K "'+@#(E #(K Z[yZ\
=#,#+#f'$#4(K 8$'E18 42K ``y`_
=+'3#$7 D'3'B4dK `^
C+1'3K P'518K [^
C4++#(8K P#5K ]oGK ][^
=455#$51($K ddd,###K ZGyZ^K ]^oy]^[K ]``K ]\]
=455*(#85K `_y`[
=45D+1$#4(K 'EE3188#,1K ][`y]\]
=45D4*(B 1221=$K \ZyZH
=4(=1($3'$#4( ='5D8K oy`K \K ZK ]HK ]oH
=4(2#B1(=1K ZHK ]\]
=4((1=$#4( $4 b*$*31 )1+2
1d'5D+1 42K ddd#yddd#,
+'=@ 42K o]yo_
W*'+#$7 42K dd,##yddd
=4(8=#4*8(188K 5'D 42K ]`H
=4($1d$
=31'$#(EK G[yG\
5#(B2*+(188 '(BK G_
=4($1d$*'+ D*3D481
=+'3#27#(EK ]GZy]^H
=455#$51($ '(BK ]^`
=4(2+#=$8 "#$%K ]^_
=4($34+K 1d$13('+ +4=*8 42K ]]`
=48$8 $4 b*$*31 )1+2K \_y\\
=4*3'E1l'DD34'=%K dd###K dd,K ^[y^\
C4,17K )$1D%1( j<K ddd,K ^]K ]`oK ][]y][G
=31'$#,#$7K []y[G
=34"B2*(B#(EK ]`\
C8#@8f1($5#%'+7#K N#%'+7K [`
'
&'+#4K j'7K `[K ][Zy]\H
B1=#8#4( 2'$#E*1K ]__
B12#(#$1 '$$#$*B18K [o
B1#2#='$#4(K ]]Zy]GH
B1+#013'$1 D3'=$#=1K ]HGy]H`
B1D3188#4(K ]]`
B1$'=%51($K ][Z
B1$'#+K Z`y]HH
B1$135#(#85K dd
&1$%513K P#5K ddd,###K ]^oy]^^
I*&6 !"# !O4B#(-K ][_y][[
B#8=#D+#(1K \_
B#8=4((1=$#4(K o]yo_
B#81(E'E151($ $%#(@#(EK ]o
D1(f'K P41K ]`]K ][]
B#8$3'=$#4(8K ]^oK ][H
&J4@4,#=K R4,'@K Z_
I5/)51 %'( )"# 954?6 !"# !b3'(@+-K oK ^y`K ]oH
&4('+B84(K P#557 !N3I1'8$-K d##yd#dK ddd,K ^HK ]\_y]\[
B4('$#4( ,#B148K d,
I1#2(#' I5??26 !"#K ]`\y]`Z
&3*=@13K 91$13K ]_`
&*=@"43$%K /(E1+'K ]]K ]oK G\
&*3'($K /3#1+K ``y`[
&*3'($K a#++K ``y`[K _`
&"1=@K C'34+K [Zy\H
&713K a'7(1K ^o
*
Q'84(K I4K ^_
1221=$#,1(188K ]_`
\H 913=1($ j*+1K ]\Hy]\]
Q#(8$1#(K /+013$K [^K \oK \Z
Q#(8$1#( X#51K ][]
Q#81(%4"13K &"#E%$ &<K ^H
Q51384(K j'+D% a'+B4K ddd,###K [G
154$#4('+ %1'+$%K ][y]\
15D'$%1$#= "#$(18818K ][
15D'$%7K oGyoo
1(BY42Y%#8$437 #++*8#4(K [Z
Q($31D31(1*3#'+ kD13'$#(E )78$15 !Qk)-K ]oGy]oo
1(,#34(51($K '"'31(188 42K GoyoH
QD8$1#(K I3#'(K `G
Q3#=884(K /(B138K ]HGy]H^
1,4+*$#4(K 3'(B45K GoyoH
1dD1=$'$#4(8
b*$*31 )1+2 '8 B#22131($ 2345K [[y\o
#5D'=$ 42K G^
1d$13('+ +4=*8 42 =4($34+K ]]`
D
2'#+*318
'8 b*$*31 )1+2K ]H]y]H\
+1'3(#(E 2345K ^\y^Z
8*==188 '8 ='$'+78$ 243K `]y`[
2'#$%K ddd,#K ]`HK ]`o
b'*+@(13K a#++#'5K ]\
21'3l',4#B'(=1K dd###ydd,
b133#88K X#5K ]H_K ]]]y]]G
`H C1($K dd#,K o[
YS)" F%<6 !"# !O311(1-K dd#,K o[
2#('+ ='*81K [H
2#d1B 5#(B81$K [Zy\]
2+1d#0#+#$7K \G
2+4"K [`y[_
b4EEK IPK Z]
^ 2311B458K ][Hy][]
b3'(@+K Q+8'K GK oy^
b3'(@+K O'03#1+K GK o
b3'(@+K m#@$43
0'=@E34*(B 42K Gy_
=4($1d$*'+ D*3D481 '(BK ]oH
b*$*31 )1+2 '(BK ddd#K ddd#,
4( E4'+8K [_
%4D1 '(BK ]Hy]]K ]^
D*3D481 '(BK \yZK ]Hy]]K _]K ]^`
4( 8$#5*+*8 '(B 318D4(81K G[
b3'(@+#(K I1(J'5#(K Z
2311B458K 24*3K ][Hy][]
b31*BK )#E5*(BK G
b348$K j4013$K ]\`
b3*5@#(K QB"'3BK ]HG
2*$*31
'8 B3#,13 42 D3181($K _Zy[_
D*++ $4"'3BK ddydd#K ddd,##K Zy]H
=4)41# 9#?8 D>%-*'%)*5' !55?K \o
R
O'#5'(K R1#+K ]^Gy]^o
$%& %'( )"# $%*'6 !"# !)*++#,'( '(B 6'3B7-K GH
O'D#(E,4#BK ][[
O#+013$K &'(#1+K dd#dK [[K [\y[ZK \Hy\]
E4'+8
]GY54($%K ]oZy]^H
031'@#(E B4"(K [`y[_K Z]
1+#5#('$#(E +18813K ]^]y]^[
1(,#34(51($8 '(BK G^
2+4" '(BK [`y[_
%4D1 '(BK ]G
%*5'( '=$#4(8 B3#,1( 07K dd#ydd##
#($1++#E1($ '=$#4( '(BK [Hy[]
5'$*3#$7 '(BK ]o
8%43$Y$135K dd#,K dd,##ydd#dK ][
85'++K o[y^^
*(B138$'(B#(EK dd##ydd###
O4BK ,#1" 42K ]]oy]G]
O4BB'3BK R1,#++1K d#
O4B#(K )1$%K ]K Z`K ][`K ][_y][\
O4+B85#$%K N'38%'++K G_
$55( )5 $1#%) !C4++#(8-K ]oG
$1%'( !"#8) _1/"#2)1%K ]`\
O3'($K /B'5K ][Zy]\H
E3'$#$*B1K ]`]y]`G
O311(1K j4013$K dd#,K o[
E3#$K ]]K ]oK G\
O348813K X#++7K oy^
E34"$% 5#(B81$K \]y\G
/
%'0#$8K ]H^
6'3B7K &'331(K ^[
6'"@#(8K &',#BK dd###K ^[y^\K Z^K ]`H
61(B3#=@8K O'7K `Gy`oK ][]
6138%2#1+BK 6'+K oGK ooK o`yo_
%18#$'$#4(K ^[
%#E%Y%4D1 D14D+1K ]oy]^
6#++K R'D4+14(K ]`G
6#$+13K /B4+2K ]]Hy]]]
64+4='*8$K oy`
%4D1
B18=3#D$#4( 42K ]]y]G
#5D43$'(=1 42K [y]^
3181'3=% 4(K ]]K ]o
64D2K O< N#=%'1+K ``
643#E451K c*$4K Z\y]HH
64"18K M1"#8K [^
6*22#(E$4(K /3#'(('K Z`
%*($#(E 8$'E1K ``y`_
6*8$4(K R7J'%K ]HH
.
#B1($#$7
'=$#4(8 '(BK ]`^y]``
=455#$51($ '(BK ddd,###K ZGyZ^
B12#(#$#4( 42K ]`G
D*3D481 '(BK ]^`
3181'3=% 4(K dd,
8%#2$ #(K ZoyZ^
#B1($#$7 ='D#$'+K ZH
D-'51# T0#1C5'# !N=M14B-K ][[
#5'E#('$#4(K G[K oGK o_K [Zy\HK \oK ZH
#5D1321=$ "43@K =45D+1$#(EK ][`y]\]
A5*$'K ?'('K ]H`
D' !*>#K o\yoZ
#('$$1($#4('+ 0+#(B(188K ^oy^^
#(B12#(#$1 '$$#$*B18K [o
#(B*8$3#'+ 8$'E1K ``y`_
#(1,#$'0#+#$7 $%#(@#(EK ]_^
#($1++#E1($ '=$#4(lB18#E(K [Hy[GK [o
#(,18$#(E #( b*$*31 )1+2K ooyo^K \_y\[K \\yZ^K ]oo
#(,18$51($ #( +488K ]HGy]HoK ]H^y]H\
D'0*2*O?# D'8?4#'/# !I13E13-K G`
A31('1*8K ]]Z
,
P'518K a#++#'5K ddd,#
P1221384(K X%45'8K Z
P408K )$1,1K ]G`K ]G_y]G\K ]o]K ][[
P4('8K j1E#('K o
P4(18K /0(13K ]GHy]G]
P4(18K C%'3+#1K G`
S
?'*213#(EK ^
?#(EK N'3$#( M*$%13K P3<K _^
?+15DK ?'+17K ddd,###K ]^oy]^^
@(4"#(EK ]^Zy]``
?4$+13K )$1,1(K [`
"
M'5013$K R'$1K ]o_K ]_G
M'(E13K Q++1(K G[yG\
F%)# 9"5< <*)" I%0*( F#))#1>%'6 !"#K dd,###ydd#d
+1'3(#(EK D31B#=$#4(8 '(BK dd,##
M1((4(K P4%(K `G
M14('3B4 B' m#(=#K ][\
+18813 E4'+8K 1+#5#('$#(EK ]^]y]^[K ][HK ][Gy][o
F#225'2 58 ,*2)51C6 !"# !&*3'($ '(B &*3'($-K ``y`[
+1$$13 2345 b*$*31 )1+2K o_
M1$$135'(K &',#BK dd#d
M1,#(1K 91$13K ][
M1"#8K /+231B 61(37K ^H
M1"#8K C<)<K ]]Zy]GH
+#21 1dD1=$'(=7K dd,
F*8# D2 % $%>#6 !"#2# .1# )"# G4?#2 !C'3$13Y)=4$$-K ]]_y]][
F*'/"&*' !O4B#(-K ][[y][\
M#,#(E8$4(K O43B4(K ]\
+4E4$%13'D7K GK Z
M450'3B#K m#(=1K ][_y][[
+4(EY$135 D+'((#(EK oG
+488K #(,18$51($ #(K ]HGy]HoK ]H^y]H\
+4"Y%4D1 D14D+1K ]o
M*=1K C+'31 I44$%1K ]GZ
-
V%' *' )"# .1#'%K ^_
V%'32 9#%1/" 851 V#%'*'- !b3'(@+-K `K \yZ
N'3=48K b13B#('(BK _Gy_[
N'3=48K A51+B'K _oK _[
5'$*3#$7K 1dD+'('$#4( 42K ]oy]^
N'd 9+'(=@ A(8$#$*$1 243 I#4+4E#='+ C7013(1$#=8K Z[
N'd"1++K P4%(K ]__
N=C'3$(17K 9'*+K `G
N=?14"(K O31EK `^
N=M14BK 6*E%K ][[
51'(#(E
#5D43$'(=1 42K Gy_K [y]^
D'8$ '(BK ]\y]Z
51'8*31'0+1 51$3#=8K Z_yZ[K ]HHK ]o\y]oZ
V#*' J%>&8 !6#$+13-K ]]H
N1#81+K /3#K ]_o
515437K ]\y]Z
5131Y1dD48*31 1221=$K G`K G\
5#(B2*+(188K G_K G[yG\
5#(B81$8
2#d1BK [Zy\]
E34"$%K \]y\G
$3'(8'=$#4('+K GZyoH
$3'(82435'$#4('+K GZyoH
N4334"K P4%(K Z]
54*($'#( 8$3'$1E7K ]^Gy]^o
N3I1'8$ !P#557 &4('+B84(-K d###yd#dK ddd,K ^HK ]\_y]\[
5*+$#Y$'8@#(EK [`y[_
N*33'7K a#++#'5 6*$=%#(84(K ]``
574D#= B1=#8#4(8K o]yo_K \\
+
(11B#(E $4 "'($#(E $4 @(4"#(EK ]^Zy]``
R1"$4(#'( X#51K ][]
R#1$f8=%1K b3#1B3#=%K `
$
40J1=$#,18K =+'3#27#(E '(B 8#5D+#27#(EK ]_`
k+84(K P122K \`
k+75D#=8K ]HH
4D$#5#f'$#4(K ]_o
4*$84*3=#(EK ]_o
4"(138%#DK ][
=
9'E'(K Q01(K ]_^
D'#(
+1'3(#(E 2345K ]ZyG]
31'=$#4( $4K ]Z
9'+513K /5'(B'K ]`\y]`Z
9'(B4+2#(#K I3*=1K ]HG
B%1%(5L 58 7"5*/#6 !"# !)=%"'3$f-K ]__
D'3'+78#8Y07Y'('+78#8K ^[K ^ZK `oK ][Z
9'3@#(84(e8 M'"K ]\H
D'8$K 3123'5#(EK GH
D'$%4+4E7K 24=*8 4(K dd
D'$%"'78 $%#(@#(EK ]GK ]^H
D113 E34*D8K G`
D1321=$#4(#85K ]\H
B#1>*22*5' V%1A#)*'- !O4B#(-K ][_
B#125'%?*)C D2'3) B#1>%'#') !6'3B7-K ]o_
B"%#(5 !_' )"# 954?S 9+'$4-K [H
9%#+#DD#(18K 4,13$%34" 42 N'3=48 31E#51 #(K _Gy_\
9#='884K 9'0+4K ZZ
D#1B D#D13K b*$*31 )1+2 '8K \`yZ^
9#d'3 )$*B#48K ]G[
9+'$4K [H
D4#($ 42 (4 31$*3(K ZGyZ^
D48#$#,1 D87=%4+4E#8$8K dd
D48$Y$3'*5'$#= E34"$%K GH
94"13 914D+1 j1,4+*$#4(K _[
B5<#12 58 !<56 !"# !)%1(@-K ]_H
931882#1+BK )$1,1(K ]]HK ][o
B1*'/*&?#2 851 I#%?*'- <*)" )"# 7"%'-*'- :51?( _1(#1 !&'++4-K `[
B1*'-?#2K \\
D3#43#$#18K ]o]y]^HK ]__
D340+158K 24=*8 4(K ddK ]o
D34=3'8$#('$#4(K ][oK ]\H
D348D1=$#4(K dd#K dd,ydd,#K ]H`
D34d#5#$7 1221=$K G`
987=%#'$3#= 648D#$'+ '$ $%1 N'3#' X%1318#1( )=%+4188+ R1*34+4E#='+
648D#$'+K o
D87=%4+4E#='+ B1$'=%51($ 2345 "43@K ][G
D87=%4+4E7K 8%#2$ #(K d#dyddK dd,ydd,#
B2C/"5?5-C 58 H541 =4)41# 9#?86 !"# !O#+013$-K [\
B41&?# 75< !O4B#(-K ][_
D*3D481
=+'3#27#(E =4($1d$*'+K ]GZy]^H
#B1($#$7 '(BK ]^`
#5D'=$ 42K Z
+488 42K \
97E5'+#4( 1221=$K G^K G\
(
31'=$#,1 01%',#43K \[y\\
31'=$#,1 ('33'$#,18K ]`yGG
31E31$K \_
318#+#1(=7K `
318#8$'(=1K ][o
j4%(K P#5K GoK \_
j4481,1+$K X%14B431K ^`
j4$%8=%#+B 648D#$'+K o
j*5#K G\
#
)'#($YQd*D{37K /($4#(1 B1K ]^[
8=%1B*+#(E 74*3 b*$*31 )1+2K ]_Zy][^
9/"55? 58 $1#%)'#22 !D4B='8$-K [^
)=%"'3$fK I'337K ]__
)=*++17K P4%(K ]G[
9#%1/"*'- 851 @5OOC =*2/"#1 !a'#$f@#(-K ]HG
)1#(21+BK P1337K dd,###ydd#d
81+1=$#,1 '$$1($#4(K ddd,#K G\K ^oy^^
81+2Y8'04$'E1K `o
)1+#E5'(K N'3$#(K d#d
)%'B4" C'31138K ]]]
)%'@18D1'31K a#++#'5K ]HZ
)%1(@K P48%*' a4+2K ]_H
)%#((K b+431(=1K ddd,#K ]`HK ]`o
8%#DD#(EK ][[y][Z
8%43$Y$135 E4'+8K dd#,K dd,##ydd#d
8%43$Y$135 31"'3B8K o^yo`
8#5D+#2#='$#4(K ]G_y]G[K ]^^
9*>&25'26 !"#K dd,###
)#(=+'#3K I40K ]_G
)#,138K &131@K ]HZK ]]]y]]GK ]_Z
)+#21K I31($K ]\y]Z
)5#$%K Q+#'8K ]GHy]G]
)5#$%K P481D%K ]_Hy]_]
)(4"K Q+#f'K ]]\y]]Z
)(4"K M431(f4K ]]\
)(7B13K C%'3+18K ]o
84=#1$7K 2'#+*318 42K `_y`[
8D43$8 =4551($'37K ^_y^[
8$'3$#(E 85'++K Z]
)$1D%1(K O3'%'5K ]`Zy]_H
8$1D8 243 01#(E 74*3 b*$*31 )1+2
'8@#(E 243 "%'$ 74* "'($K ]`[y]_G
'*$45'$#4( '(B 878$15#f'$#4(K ]_oy]_\
=+'3#27#(E =4($1d$*'+ D*3D481K ]GZy]^H
=45D+1$#(E #5D1321=$ "43@K ][`y]\]
1+#5#('$#(E +18813 E4'+8K ]^]y]^[
#($34B*=$#4( $4K ]G`y]G\
(11B#(E $4 "'($#(E $4 @(4"#(EK ]^Zy]``
8=%1B*+#(EK ]_Zy][^
8*55'37 42K ]\o
8$#5*+*8 '(B 318D4(81K ddK G[
)$3'$1E#= C4'=%K GH
9)4>O?*'- U&5' ,%&&*'#22 !O#+013$-K [\
24O 2&#/*# %#)#1'*)%)*2K ZK [_
8*==188
01#(E $3*1 $4 81+2 '(BK ]]]y]]G
'8 ='$'+78$ 243 2'#+*31K `]y`[
=4(2#B1(=1 '8 07D34B*=$ 42K ZH
8*==188 B#81'81K `]K `G
)*BB1(B432K X%45'8K ]H`
8*#=#B1 3'$18K b3'(@+ '(BK o
)*++#,'(K &'(K GHK o^K ^^K ]^HK ]_GK ]_`K ][HK ]\H
878$15 B18#E(K ]_^y]_`K ]_[
878$15#f'$#4(K ]_oy]_\
>
X'# C%#K ]HG
X'#J# 9*8% 6'(B8K ]HGK ]H^y]H`
XQ& X'+@8K dd,#K [\K ]`\y]`Z
$1+14+4E7K dd#K [H
QS^ G4?#6 !"# !C'3B4(1-K ^Gy^o
$%148#8K ]]Zy]GH
X%1318#1(8$'B$ UX131f#( C'5DKV o
X%#1+K 91$13K [Gy[oK ][`
!"*'A .-%*' !O3'($-K ][Z
!"52# :"5 G#>%*'+ . B52)%&5/%?C&)*/ ;50#? !64D2-K ``
$%31'$8 $4 b*$*31 )1+2
B#8=4((1=$#4(K o]yo_
#($34B*=$#4( $4K ]y_
+'=@ 42 1(,#34(51($'+ '"'31(188K GoyoH
+'=@ 42 %4D1K [y]^
(4$ 01#(E #( $%1 '31('K ^`y`H
31'=$#,1 ('33'$#,18K ]`yGG
8*==188 B#81'81K `]y`[
8*55'37 42K `Z
*3E1($ 0'$$+18K o[y^^
c B1*51*)*#2 7"#/A?*2)K ]o\
X#5013+'@1K P*8$#(K o\
$#51
2311B45 42K ][Hy][o
'8 %4+#8$#=K ]\
!*># %'( B2C/"5?5-*/%? TL&?%'%)*5' !)+#21-K ]\y]Z
$#51 5'('E151($K ^]
$#51Y='D8*+18K ]\_y]\\
!*'C ,%O*)2 !b4EE-K Z]
!5C 9)51CK ]G[
!1%/)*5' !a#=@5'(-K ]oo
$3'(8'=$#4('+ 5#(B81$l31+'$#4(8%#D8K GZyoH
$3'(82435'$#4('+ 5#(B81$l31+'$#4(8%#D8K GZyoH
$3'*5'K ]_y][K G]
!1*O#2 !O4B#(-K ][[
!1*--#12 !O4+B85#$%-K G_
$3*$%8 '04*$ b*$*31 )1+2
01#(E $3*1K ]HZy]]G
B#22131($ 2345 1dD1=$'$#4(8K [[y\o
2'#+*318K ]H]y]H\
2*$*31 B3#,18 $%1 D3181($K _Zy[_
#($34B*=$#4( $4K _]y_\
'8 D#1B D#D13K \`yZ^
8*55'37 42K ]Go
,#1" 42 O4B '(BK ]]oy]G]
,#,#B(188 '(B B1$'#+K Z`y]HH
X*3@%1#5K ^
X784(K N#@1K ]`
Q
*(Y'+#E(#(EK GZ
;(#,138'+ X1((#8 j'(@#(E !;Xj-K Z_yZ[
*DD13 +#5#$ D340+15K `Gy`o
*3E1($ 0'$$+18K o[y^^K ][H
c
,'+*18K #5D43$'(=1 42K G
m#1((' R1*34+4E#='+ 94+#=+#(#=K `
,#,#B(188K o`yo_K Z`y]HH
m4%8K ?'$%+11(K Zy]H
Z
a'#$f@#(K b31BK ]HG
a'#$f@#(K P48%K ]H]K ]HGy]HoK ]H^y]H[
"'+@#(E #( =#3=+18K Z[yZ\
a'+8%K I#++K `]
"'($#(EK @(4"#(E ,138*8K ]^Zy]``
:%1 58 .1)6 !"# !931882#1+B-K ]]HK ][o
a'8%#(E$4(K &1(f1+K ]`H
:"5 ;5) ,5< !6'3B7 '(B )*++#,'(-K ]o_K ]_`K ][H
a#=@5'(K O#(4K ]oGy]oo
a#++#'58K )131('K Z_
a#++#'584(K N'3#'((1K ]]o
:*??&5<#1 I5#2'3) :51A !6'3B7-K ]o_
a#++84(K N131B#$%K ^]
"#$(18818K 15D'$%1$#=K ][
"4+,18K 31#($34B*=$#4( 42K ]__y]_[
a43B8"43$%K a#++#'5K ]][K ]]Z
d
xYO'518K ]HH
&
c1++4"8$4(1 R'$#4('+ 9'3@K ]__y]_[
c4B'K ]^Z
c4*X*01 ,#B148K d##yd#d
e
r#E+'3K r#EK G`K ]`^
5!:#"8.%)/9%#$&
TT
!"#$%&'() %* 1"&+2.$%. #/0 6'7 64*81 /*8$3'+#' 9$7< M$B<K ]\lo_ j'+D% )$<K
/+1d'(B3#' R)a GH]`
B"5'#+ _]GYZ__ZY^GZZ L =%L+ _]GYZ__ZY^]^^
"""<%'7%4*81<=45<'*
!"#$%&'() %* +'( ,*%+() 3%*4)56 #/0 6'7 64*81 ;?K M$B<K X%1 )#d$%
b+443K a'$84( 64*81K `^ I'@13 )$311$K M4(B4( a]; [I;
B"5'#+ g^^ !H-GH oZG[ [GZH L =%L+ g^^ !H-GH oZG[ [GZ]
"""<%'7%4*81<=4<*@
TT
!336CC +6V SN4VE62P6)
!NUB<W6) !NUVA616)
M1'3( '(B 1,4+,1 '$ 74*3 4"( D'=1 "#$% $%1 "43+Be8 +1'B#(E 1dD13$8<
"""<%'7%4*81;<=45