
chap08
.pdf=eZ\Z |
*',rjbnlu b ]jZnbdZ |
|
|
|
|
)DPLO\$UUD\ DUUD\> @ RI E\WH ))B'217&$5( ))B520$1 ))B6:,66 ))B02'(51
))B6&5,37 ))B'(&25$7,9(
FZkkb\ agZq_gbc ^\mo feZ^rbo jZajy^h\ 7/2*)217 OI3LWFK$QG)DPLO\ 3LWFK$UUD\ DUUD\> @ RI E\WH '()$8/7B3,7&+ ),;('B3,7&+ 9$5,$%/(B3,7&+
FZkkb\ agZq_gbc 7/2*)217 OI&OLS3UHFLVLRQ
&OLS3UHF$UUD\ DUUD\> @ RI E\WH &/,3B'()$8/7B35(&,6 &/,3B&+$5$&7(5B35(&,6
&/,3B6752.(B35(&,6 &/,3B0$6. &/,3 B/+B$1*/(6
&/,3B77B$/:$<6 &/,3B(0%(''('
FZkkb\ agZq_gbc 7/2*)217 OI4XDOLW\
4XDOLW\$UUD\ DUUD\> @ RI E\WH '()$8/7B48$/,7< '5$)7B48$/,7< 3522)B48$/,7<
W\SH
70DLQ)RUP FODVV 7)RUP
OEO+HLJKW 7/DEHO
OEO:LGWK 7/DEHO
JE(IIHFWV 7*URXS%R[
FE[,WDOLF 7&KHFN%R[
FE[8QGHUOLQH 7&KHFN%R[
FE[6WULNH2XW 7&KHFN%R[
FE:HLJKW 7&RPER%R[
OEO:HLJKW 7/DEHO
OEO(VFDSHPHQW 7/DEHO
FE(VFDSHPHQW 7&RPER%R[
SE[)RQW 73DLQW%R[
FE&KDU6HW 7&RPER%R[
OEO&KDU6HW 7/DEHO
FE2XW3UHF 7&RPER%R[
OEO2XW3UHFLVLRQ 7/DEHO
FE)RQW)DFH 7&RPER%R[
UJ3LWFK 75DGLR*URXS
FE)DPLO\ 7&RPER%R[
OEO)DPLO\ 7/DEHO
OEO&OLS3UHFLVLRQ 7/DEHO
FE&OLS3UHF 7&RPER%R[
UJ4XDOLW\ 75DGLR*URXS
EWQ6HW'HIDXOWV 7%XWWRQ
EWQ)RQW,QIR 7%XWWRQ
OEO)DFH1DPH 7/DEHO
UJ*UDSKLFV0RGH 75DGLR*URXS
OEO2ULHQWDWLRQ 7/DEHO
FE2ULHQWDWLRQ 7&RPER%R[
VH+HLJKW 76SLQ(GLW
VH:LGWK 76SLQ(GLW
SURFHGXUH SE[)RQW3DLQW 6HQGHU 72EMHFW
SURFHGXUH )RUP$FWLYDWH 6HQGHU 72EMHFW
SURFHGXUH EWQ)RQW,QIR&OLFN 6HQGHU 72EMHFW
SURFHGXUH EWQ6HW'HIDXOWV&OLFN 6HQGHU 72EMHFW
SURFHGXUH UJ*UDSKLFV0RGH&OLFN 6HQGHU 72EMHFW
SURFHGXUH FE(VFDSHPHQW&KDQJH 6HQGHU 72EMHFW
SURFHGXUH )RQW&KDQJHG 6HQGHU 72EMHFWSULYDWH
^ AZdjulu_ h[ty\e_gby `
)/RJ)RQW 7/RJ)RQW
)+)RQW +)RQW
SURFHGXUH 0DNH)RQW
SURFHGXUH 6HW'HIDXOWVSXEOLF
^ Hldjulu_ h[ty\e_gby `HQG
YDU0DLQ)RUP 70DLQ)RUP
LPSOHPHQWDWLRQ
XVHV )RQW,QIR)UP
^ 5 ')0`
=eZ\Z |
*',rjbnlu b ]jZnbdZ |
|
|
|
|
SURFHGXUH 70DLQ)RUP 0DNH)RQW EHJLQ
HqbsZ_f kh^_j`bfh_ )/RJ)RQW)LOO&KDU )/RJ)RQW VL]HRI 7/RJ)RQW
MklZgZ\eb\Z_f ihey 7/2*)217ZLWK )/RJ)RQW GR
EHJLQ
OI+HLJKW 6WU7R,QW VH+HLJKW 7H[W
OI:LGWK 6WU7R,QW VH:LGWK 7H[W
OI(VFDSHPHQW 6WU7R,QW FE(VFDSHPHQW ,WHPV>FE(VFDSHPHQW ,WHP,QGH[@
OI2ULHQWDWLRQ 6WU7R,QW FE2ULHQWDWLRQ ,WHPV>FE2ULHQWDWLRQ ,WHP,QGH[@
OI:HLJKW :HLJKW$UUD\>FE:HLJKW ,WHP,QGH[@
OI,WDOLF RUG FE[,WDOLF &KHFNHG
OI8QGHUOLQH RUG FE[8QGHU/LQH &KHFNHG
OI6WULNH2XW RUG FE[6WULNH2XW &KHFNHG
OI&KDU6HW &KDU6HW$UUD\>FE&KDUVHW ,WHP,QGH[@
OI2XW3UHFLVLRQ 2XW3UHF$UUD\>FE2XW3UHF ,WHP,QGH[@
OI&OLS3UHFLVLRQ &OLS3UHF$UUD\>FE&OLS3UHF ,WHP,QGH[@
OI4XDOLW\ 4XDOLW\$UUD\>UJ4XDOLW\ ,WHP,QGH[@
OI3LWFK$QG)DPLO\ 3LWFK$UUD\>UJ3LWFK ,WHP,QGH[@ RU )DPLO\$UUD\>FE)DPLO\ ,WHP,QGH[@
6WU3&RS\ OI)DFH1DPH FE)RQW)DFH ,WHPV>FE)RQW)DFH ,WHP,QGH[@HQG
Kqblu\Z_f lj_[m_fuc rjbnl
)+)RQW &UHDWH)RQW,QGLUHFW )/RJ)RQW
Ijbk\Zb\Z_f agZq_gb_ ^_kdjbilhjm )RQW +DQGOHSE[)RQW )RQW +DQGOH )+)RQWSE[)RQW 5HIUHVK
HQG
SURFHGXUH 70DLQ)RUP 6HW'HIDXOWV EHJLQ
MklZgZ\eb\Z_f we_f_glu mijZ\e_gby \ bkoh^gh_ khklhygb_ ^ey $/RJ)RQWVH+HLJKW 7H[W
VH:LGWK 7H[W
FE[,WDOLF &KHFNHG )DOVH
FE[6WULNH2XW &KHFNHG )DOVH
FE[8QGHUOLQH &KHFNHG )DOVHFE:HLJKW ,WHP,QGH[
FE(VFDSHPHQW ,WHP,QGH[
FE2ULHQWDWLRQ ,WHP,QGH[
FE&KDUVHW ,WHP,QGH[
FE2XW3UHF ,WHPLQGH[
FE)DPLO\ ,WHP,QGH[
FE&OLS3UHF ,WHP,QGH[
UJ3LWFK ,WHP,QGH[
UJ4XDOLW\ ,WHP,QGH[
aZihegy_f dhf[bgbjh\Zgguc kibkhd &%)RQW)DFH wdjZggufb rjbnlZfb
FE)RQW)DFH ,WHPV $VVLJQ 6FUHHQ )RQWVFE)RQW)DFH ,WHP,QGH[ FE)RQW)DFH ,WHPV ,QGH[2I )RQW 1DPH HQG
SURFHGXUH 70DLQ)RUP SE[)RQW3DLQW 6HQGHU 72EMHFW EHJLQ
ZLWK SE[)RQW GREHJLQ
^ AZf_lvl_ qlh \ :LQGRZV ]jZnbq_kdb_ j_`bfu \k_]^Z hij_^_eyxlky
agZq_gb_f *0B&203$7,%/( \ lh \j_fy dZd j_`bf *0B$'9$1&('
jZkihagZ_lky lhevdh \ :LQGRZV 17 `
FDVH UJ*UDSKLFV0RGH ,WHP,QGH[ RI
6HW*UDSKLFV0RGH SE[)RQW &DQYDV +DQGOH *0B&203$7,%/(
6HW*UDSKLFV0RGH SE[)RQW &DQYDV +DQGOH *0B$'9$1&('
HQG
&DQYDV 5HFWDQJOH :LGWK +HLJKW
AZibku\Z_f bfy rjbnlZ
&DQYDV 7H[W2XW :LGWK GLY +HLJKW GLY &%)RQW)DFH 7H[WHQG
HQG SURFHGXUH 70DLQ)RUP )RUP$FWLYDWH 6HQGHU 72EMHFW EHJLQ
6HW'HIDXOWV0DNH)RQW HQG

=eZ\Z |
*',rjbnlu b ]jZnbdZ |
|
|
|
|
SURFHGXUH 70DLQ)RUP EWQ)RQW,QIR&OLFN 6HQGHU 72EMHFW EHJLQ
)RQW,QIR)RUP 6KRZ0RGDO HQG
SURFHGXUH 70DLQ)RUP EWQ6HW'HIDXOWV&OLFN 6HQGHU 72EMHFW EHJLQ
6HW'HIDXOWV0DNH)RQW HQG
SURFHGXUH 70DLQ)RUP UJ*UDSKLFV0RGH&OLFN 6HQGHU 72EMHFW EHJLQ
FE2ULHQWDWLRQ (QDEOHG UJ*UDSKLFV0RGH ,WHP,QGH[
LI QRW FE2ULHQWDWLRQ (QDEOHG WKHQ
FE2ULHQWDWLRQ ,WHP,QGH[ FE(VFDSHPHQW ,WHP,QGH[0DNH)RQW
HQG
SURFHGXUH 70DLQ)RUP FE(VFDSHPHQW&KDQJH 6HQGHU 72EMHFW EHJLQ
LI QRW FE2ULHQWDWLRQ (QDEOHG WKHQ
FE2ULHQWDWLRQ ,WHP,QGH[ FE(VFDSHPHQW ,WHP,QGH[ HQG
SURFHGXUH 70DLQ)RUP )RQW&KDQJHG 6HQGHU 72EMHFW EHJLQ
0DNH)RQW HQG
HQG
< nZce_ 0$,1)250 3$6 \u m\b^bl_ g_kdhevdh hij_^_e_gbc fZkkb\h\ khijh\h`^Zxsboky djZldbfb ihykg_gbyfb IhdZ aZf_lvl_ qlh ^ey nhjfu h[ty\e_gu ^\_ aZdjulu_ SULYDWH i_j_f_ggu_ )/RJ)RQW b )+)RQW I_j_f_ggZy )/RJ)RQW bf__l lbi 7/2*)217 b ij_^klZ\ey_l kh[hc kljmdlmjm aZibk_c bkihevam_fmx ^ey hibkZgby kha^Z\Z_fh]h rjbnlZ I_j_f_ggZy )+)RQW kh^_j`bl ^_kdjbilhj ^ey kha^Z\Z_fh]h rjbnlZ AZdjuluc SULYDWH f_lh^ 0DNH)RQW ij_^gZagZq_g ^ey kha^Zgby rjbnlZ iml_f i_j\hgZqZevgh]h aZiheg_gby kljmdlmju )/RJ)RQW agZq_gbyfb hij_^_ey_fufb dhfihg_glZfb ]eZ\ghc nhjfu k ihke_^mxs_c i_j_^Zq_c wlhc kljmdlmju nmgdpbb:LQ *',&UHDWH)RQW,QGLUHFW dhlhjZy \ha\jZsZ_l ^_kdjbilhj ^ey gh\h]h rjbnlZ Ij_`^_ q_f ijh^he`blv jZkkfhljbf kljmdlmjm 7/2*)217
KljmdlmjZ 7/2*)217
DZd mdZau\Zehkv \ur_ kljmdlmjZ 7/2*)217 bkihevam_lky ^ey hij_^_e_gby rjbnlZ dhlhjuc \u kh[bjZ_l_kv kha^Zlv WlZ kljmdlmjZ hij_^_ey_lky \ fh^me_ :,1'2:6 ke_^mxsbf h[jZahf
7/RJ)RQW UHFRUGOI+HLJKW ,QWHJHUOI:LGWK ,QWHJHUOI(VFDSHPHQW ,QWHJHUOI2ULHQWDWLRQ ,QWHJHUOI:HLJKW ,QWHJHUOI,WDOLF %\WHOI8QGHUOLQH %\WHOI6WULNH2XW %\WHOI&KDU6HW %\WHOI2XW3UHFLVLRQ %\WHOI&OLS3UHFLVLRQ %\WHOI4XDOLW\ %\WHOI3LWFK$QG)DPLO\ %\WH
OI)DFH1DPH DUUD\> OIB)DFH6L]H @ RI &KDU HQG
<ZrZ aZ^ZqZ² jZaf_klblv agZq_gby \ l_ ihey kljmdlmju 7/2*)217 dhlhju_ hij_^_eyxl `_eZ_fu_ Zljb[mlu <k_ ihey ij_^klZ\eyxl jZaebqgu_ lbiu Zljb[mlh\ Ih mfheqZgbx [hevrbgkl\h ihe_c fh`gh mklZgh\blv jZ\gufb gmex qlh b ^_eZ_lky k ihfhsvx dghidb 6HW 'HIDXOWV MklZgh\blv bkoh^gu_ agZq_gby gZ ]eZ\ghc nhjf_ < wlhf ijbf_j_:LQ\u[bjZ_l Zljb[mlu ^ey rjbnlZ b \ha\jZsZ_l lh qlh kqblZ_l gm`guf
=eZ\Z |
*',rjbnlu b ]jZnbdZ |
|
|
|
|
Hkgh\gh_ ijZ\beh ]eZkbl q_f [hevr_ ihe_c \u aZihegbl_ l_f [hevrmx \hafh`ghklv ^ey gZkljhcdb klbey rjbnlZ ihemqbl_ < ijb\_^_gghf gb`_ kibkd_ jZatykgy_lky qlh ij_^klZ\ey_l dZ`^h_ ihe_ kljmdlmju 7/2*)217 G_dhlhjuf iheyf fh`gh ijbk\hblv dhgklZglu hij_^_e_ggu_ \ fh^me_ :,1'2:6 AZ iheguf hibkZgb_f wlbo agZq_gbc h[jZsZcl_kv d kijZ\d_ :LQ ihkdhevdm a^_kv ijb\h^ylky lhevdh kZfu_ h[s_mihlj_[bl_evgu_ ba gbo
AgZq_gb_ ihey |
HibkZgb_ |
|
|
OI+HLJKW |
<ukhlZ rjbnlZ AgZq_gb_ [hevr_ gmey hagZqZ_l \ukhlm yq_cdb |
|
f_gvr_ gmey²\ukhlm agZqdZ \ukhlZ yq_cdb fbgmk ie_qh Gme_\h_ |
|
agZq_gb_ iha\hey_l:LQhij_^_eblv \ukhlm aZ \Zk |
|
|
OI:LGWK |
Kj_^gyy rbjbgZ rjbnlZ Gme_\h_ agZq_gb_ iha\hey_l:LQ |
|
\u[jZlv rbjbgm aZ \Zk |
|
|
OI(VFDSHPHQW |
M]he \ ^_kyluo ^heyo ]jZ^mkZ ih\hjhlZ [Zah\hc ebgbb rjbnlZ l _ |
|
ebgbb gZ dhlhjhc jZkiheZ]Zxlky kbf\heu <:LQGRZVkljhdZ |
|
l_dklZ b hl^_evgu_ kbf\heu jbkmxlky k bkihevah\Zgb_f h^gh]h b |
|
lh]h `_ m]eZ l _ agZq_gby OI(VFDSHPHQW b OI2ULHQWDWLRQ |
|
h^bgZdh\u <:LQGRZV17 l_dkl jbkm_lky g_aZ\bkbfh hl m]eZ |
|
hjb_glZpbb dZ`^h]h kbf\heZ \ l_dklh\hc kljhd_ Qlh[u ^h[blvky |
|
wlh]h gm`gh k ihfhsvx nmgdpbb:LQ *',6HW*UDSKLFV0RGH |
|
mklZgh\blv ]jZnbq_kdbc j_`bf ^ey mkljhckl\Z jZ\guf agZq_gbx |
|
*0B$'9$1&(' Ih mfheqZgbx ]jZnbq_kdbc j_`bf mklZgh\e_g |
|
jZ\guf *0B&203$7,%/( qlh aZklZ\ey_l:LQGRZV17 \_klb k_[y |
|
ih^h[gh:LQGRZVWlhl wnn_dl ^_ckl\m_l lhevdh ^ey rjbnlh\ |
|
7UXH7\SH |
|
|
OI2ULHQWDWLRQ |
Iha\hey_l aZ^Z\Zlv m]he ih^ dhlhjuf fh`gh jbkh\Zlv hl^_evgu_ |
|
kbf\heu <:LQGRZVwlh agZq_gb_ kh\iZ^Z_l kh agZq_gb_f ihey |
|
OI(VFDSHPHQW <:LQGRZV17 wlb agZq_gby fh]ml [ulv jZaebqgu |
|
kf OI(VFDSHPHQW |
|
|
OI:HLJKW |
Wlh agZq_gb_ hdZau\Z_l \ebygb_ gZ iehlghklv rjbnlZ < fh^me_ |
|
:,1'2:6 hij_^_e_gh g_kdhevdh dhgklZgl ^ey wlh]h ihey gZijbf_j |
|
):B%2/' b ):B1250$/ Ijb mklZgh\d_ dhgklZglu ):B'217&$5( |
|
:LQ\u[_j_l lhesbgm aZ \Zk |
|
|
OI,WDOLF |
G_gme_\h_ agZq_gb_ hagZqZ_l dmjkb\ Z gme_\h_²g_ dmjkb\ |
|
|
OI8QGHUOLQH |
G_gme_\h_ agZq_gb_²ih^q_jdb\Zgb_ Z gme_\h_²hlkmlkl\b_ |
|
ih^q_jdb\Zgby |
|
|
OI6WULNH2XW |
G_gme_\h_ agZq_gb_²i_j_q_jdb\Zgb_ Z gme_\h_²hlkmlkl\b_ |
|
i_j_q_jdb\Zgby |
|
|
OI&KDU6HW |
<:LQhij_^_e_gu ke_^mxsb_ gZ[hju kbf\heh\ |
|
$16,B&+$56(7 '()$8/7B&+$56(7 6<0%2/B&+$56(7 |
|
6+,)7-,6B&+$56(7 b 2(0B&+$56(7 Ih mfheqZgbx |
|
bkihevamcl_ '()$8/7B&+$56(7 |
|
|
OI2XW3UHFLVLRQ |
Wlbf agZq_gb_f hij_^_ey_lky dZd:LQ^he`gZ khihklZ\eylv |
|
aZijZrb\Z_fuc jZaf_j b oZjZdl_jbklbdb rjbnlZ k j_Zevguf |
|
rjbnlhf Bkihevamcl_ dhgklZglm 77B21/<B35(&,6 ^ey mdZaZgby |
|
ijbf_gylv lhevdh rjbnlu7UXH7\SH>jm]b_ dhgklZglu hij_^_e_gu \ |
|
fh^me_ :,1'2:6 |
|
|
OI&OLS3UHFLVLRQ |
Wlh agZq_gb_ hij_^_ey_l dZd:LQhlk_dZ_l kbf\heu kgZjm`b |
|
h[eZklb hlk_q_gby DhgklZglZ &/,3B'()$8/7B35(&,6 iha\hebl |
|
:LQk^_eZlv \u[hj [_a \Zr_]h mqZklby |
|
|

=eZ\Z |
*',rjbnlu b ]jZnbdZ |
|
|
|
|
OI4XDOLW\ Wlh agZq_gb_ hij_^_ey_l dZq_kl\h rjbnlZ \ lhf kfuke_ dZd bgl_jn_ck*',[m^_l _]h jbkh\Zlv K ihfhsvx dhgklZglu '()$8/7B48$/,7< fh`_l_ i_j_eh`blv j_r_gb_ gZ:LQeb[h bkihevamcl_ dhgklZglu 3522)B48$/,7< beb '5$)7B48$/,7<
OI3LWFK$QG)DPLO\ < ^\mo feZ^rbo jZajy^Zo mdZau\Z_lky lbi rjbnlZ Z \ q_luj_o
klZjrbo²k_f_ckl\h K_f_ckl\Z i_j_qbke_gu \ lZ[e
OI)DFH1DPH |
Bfy ]Zjgblmju rjbnlZ |
< ijhp_^mj_ 0DNH)RQW bkihevamxlky agZq_gby hij_^_e_ggu_ \ jZa^_e_ FRQVW fh^mey 0DLQ)RUP SDV Wlb fZkkb\u dhgklZgl kh^_j`Zl jZaebqgu_ aZjZg__ hij_^_e_ggu_ agZq_gby dhgklZgl ^ey kljmdlmju 7/2*)217 Wlb agZq_gby jZkiheh`_gu \ lhf `_ ihjy^d_ qlh b we_f_glu \ dhf[bgbjh\Zgguo kibkdZo dhfihg_glZo 7&RPER%R[ ]eZ\ghc nhjfu GZijbf_j ihjy^hd ke_^h\Zgby we_f_glh\ \ kibkd_ k_f_ckl\Z rjbnlh\ wda_fieyj &%)DPLO\ dhfihg_glZ 7&RPER%R[ kh\iZ^Z_l k ihjy^dhf agZq_gbc \ fZkkb\_ )DPLO\$UUD\ ;eZ]h^Zjy wlhfm khdjZsZ_lky dhebq_kl\h ijh]jZffguo bgkljmdpbc lj_[m_fuo ^ey aZiheg_gby kljmdlmju 7/2*)217 I_j\Zy kljhdZ \ nmgdpbb 0DNH)RQW
ILOO&KDU )/RJ)RQW VL]HRI 7/RJ)RQW
hqbsZ_l kljmdlmjm )/RJ)RQW ^h aZibkb \ g__ dZdbo [u lh gb [ueh agZq_gbc : ihke_ aZiheg_gby wlhc kljmdlmju \ kljhd_
)+)RQW &UHDWH)RQW,QGLUHFW )/RJ)RQW
\uau\Z_lky nmgdpby :LQ $3, &UHDWH)RQW,QGLUHFW dhlhjZy ijbgbfZ_l kljmdlmjm )/RJ)RQW dZd iZjZf_lj b \ha\jZsZ_l ^_kdjbilhj ^ey aZijZrb\Z_fh]h rjbnlZ AgZq_gb_ wlh]h ^_kdjbilhjZ ijbk\Zb\Z_lky k\hckl\m +DQGOH wda_fieyjZ SE[)RQW )RQW kbkl_fgh]h dhfihg_glZ 73DLQW%R[ I_j_^ \uiheg_gb_f ijbk\h_gby'HOSKLaZ[hlblky h jZajmr_gbb ij_^u^ms_]h rjbnlZ dhfihg_glZ 73DLQW%R[ Ihke_ ijbk\h_gby \uihegy_lky h[gh\e_gb_ i_j_jbkh\dZ h[t_dlZ SE[)RQW iml_f \uah\Z f_lh^Z 5HIUHVK
F_lh^ 6HW'HIDXOWV bgbpbZebabjm_l kljmdlmjm 7/2*)217 klZg^Zjlgufb agZq_gbyfb Wlhl f_lh^ \uau\Z_lky ijb kha^Zgbb ]eZ\ghc nhjfu Z lZd`_ \ l_o kemqZyo dh]^Z ihevah\Zl_ev s_edZ_l gZ dghid_ 6HW 'HIDXOWV J_amevlZl h^gh]h ba wdki_jbf_glh\ k jZkkfZljb\Z_fuf ijh_dlhf \uihegy_fuo ^ey ^_fhgkljZpbb jZaebqguo wnn_dlh\ dhlhju_ fh`gh ihemqblv ijb kha^Zgbb rjbnlh\ ihdZaZg gZ jbk
Hlh[jZ`_gb_ bgnhjfZpbb h rjbnlZo
Ijb s_eqd_ gZ dghid_ ]eZ\ghc nhjfu )RQW ,QIRUPDWLRQ BgnhjfZpby h rjbnl_ \uau\Z_lky f_lh^ deZkkZ )RQW,QIR)RUP dhlhjuc hlh[jZ`Z_l bgnhjfZpbx h \u[jZgghf rjbnl_ < ijhp_kk_ aZ^Zgby Zljb[mlh\ rjbnlZ \ kljmdlmj_ 7/2*)217 :LQ klZjZ_lky gZclb rjbnl dhlhjuc [eb`_ \k_]h khhl\_lkl\m_l aZijZrb\Z_fhfm Ijb wlhf \iheg_ \hafh`gh qlh rjbnl dhlhjuc \_jg_l \Zf nmgdpby &UHDWH)RQW,QGLUHFW [m^_l bf_lv Zljb[mlu kh\_jr_ggh hlebqgu_ hl aZijZrb\Z_fuo F_lh^ )RQW,QIR)RUP iha\hey_l ijhkfhlj_lv Zljb[mlu \u[jZggh]h rjbnlZ b ^ey kqblu\Zgby aZijhr_gghc bgnhjfZpbb bkihevam_l nmgdpbx:LQ$3,*HW7H[W0HWULFV

=eZ\Z |
*',rjbnlu b ]jZnbdZ |
|
|
|
|
Jbk Bah[jZ`_gb_ ih\_jgmlh]h rjbnlZ
Nmgdpby *HW7H[W0HWULFV ijbgbfZ_l ^\Z iZjZf_ljZ ^_kdjbilhj dhgl_dklZ mkljhckl\Z rjbnlhf dhlhjh]h \u bgl_j_km_l_kv b kkuedm gZ _s_ h^gm kljmdlmjm :LQ 77(;70(75,& AZ^ZqZ nmgdpbb *HW7H[W0HWULFV ² h[gh\blv kljmdlmjm 77(;70(75,& bgnhjfZpb_c h aZ^Zgghf rjbnl_ < fh^me_ :,1'2:6 aZibkv 77(;70(75,& hij_^_e_gZ ke_^mxsbf h[jZahf
77H[W0HWULF UHFRUG
WP+HLJKW ,QWHJHU
WP$VFHQW ,QWHJHU
WP'HVFHQW ,QWHJHU
WP,QWHUQDO/HDGLQJ ,QWHJHU
WP([WHUQDO/HDGLQJ ,QWHJHU
WP$YH&KDU:LGWK ,QWHJHU
WP0D[&KDU:LGWK ,QWHJHU
WP:HLJKW ,QWHJHU
WP,WDOLF %\WH
WP8QGHUOLQHG %\WH
WP6WUXFN2XW %\WH
WP)LUVW&KDU %\WH
WP/DVW&KDU %\WH
WP'HIDXOW&KDU %\WH
WP%UHDN&KDU %\WH
WP3LWFK$QG)DPLO\ %\WH
WP&KDU6HW %\WH
WP2YHUKDQJ ,QWHJHU
WP'LJLWL]HG$VSHFW; ,QWHJHU
WP'LJLWL]HG$VSHFW< ,QWHJHU HQG
Ihey aZibkb 77(;70(75,& ij_^gZagZq_gu ^ey ojZg_gby bgnhjfZpbb [hevrmx qZklv dhlhjhc fu m`_ jZkkfhlj_eb GZijbf_j \u m`_ agZ_l_ qlh ihgbfZ_lky ih^ \ukhlhc rjbnlZ kj_^g_c rbjbghc kbf\heZ ih^q_jdb\Zgb_f dmjkb\hf i_j_q_jdb\Zgb_f b ij ;he__ ih^jh[gmx bgnhjfZpbx h kljmdlmj_ 77(;70(75,& fh`gh ihemqblv ba bgl_jZdlb\ghc kijZ\db:LQ$3,< ebklbg]_ kh^_j`blky ijbf_j \u\h^Z bgnhjfZpbb h rjbnl_
Ebklbg] Bkoh^guc dh^ ^ey nhjfu \u\h^Z bgnhjfZpbb h rjbnl_
XQLW )RQW,QIR)UP
LQWHUIDFH
XVHV
=eZ\Z |
*',rjbnlu b ]jZnbdZ |
|
|
|
|
6\V8WLOV :LQ7\SHV :LQ3URFV 0HVVDJHV &ODVVHV *UDSKLFV&RQWUROV )RUPV 'LDORJV ([W&WUOV 6WG&WUOV
W\SH
7)RQW,QIR)RUP FODVV 7)RUP
OE)RQW,QIR 7/LVW%R[
SURFHGXUH )RUP$FWLYDWH 6HQGHU 72EMHFWSULYDWH
^ AZdjulu_ h[ty\e_gby `SXEOLF
^ Hldjulu_ h[ty\e_gby `HQG
YDU)RQW,QIR)RUP 7)RQW,QIR)RUP
LPSOHPHQWDWLRQ
XVHV 0DLQ)UP
^ 5 ')0`
SURFHGXUH 7)RQW,QIR)RUP )RUP$FWLYDWH 6HQGHU 72EMHFW FRQVW
3,7&+B0$6. E\WH ) MklZgh\dZ feZ^rbo o jZajy^h\)$0,/<B0$6. E\WH ) MklZgh\dZ klZjrbo o jZajy^h\ YDU
7[0HWULF 77H[W0HWULF)DFH1DPH 6WULQJ3LWFK7HVW )DPLO\7HVW E\WH EHJLQ
<u^_e_gb_ iZfylb ^ey kljhdb )DFH1DPH6HW/HQJWK )DFH1DPH OIB)DFH6L]H
Ihemq_gb_ bgnhjfZpbb h rjbnl_
ZLWK 0DLQ)RUP SE[)RQW &DQYDV GREHJLQ
*HW7H[W)DFH +DQGOH OIBIDFH6L]H 3&KDU )DFH1DPH
*HW7H[W0HWULFV +DQGOH 7[0HWULFHQG
>h[Z\e_gb_ bgnhjfZpbb h rjbnl_ \ kibkhd ba kljmdlmju
77(;70(75,&ZLWK OE)RQW,QIR ,WHPV 7[0HWULF GREHJLQ
&OHDU
$GG )RQW IDFH QDPH )DFH1DPH
$GG WP+HLJKW ,QW7R6WU WP+HLJKW
$GG WP$VFHQW ,QW7R6WU WP$VFHQW
$GG WP'HVFHQW ,QW7R6WU WP'HVFHQW
$GG WP,QWHUQDO/HDGLQJ ,QW7R6WU WP,QWHUQDO/HDGLQJ
$GG WP([WHUQDO/HDGLQJ ,QW7R6WU WP([WHUQDO/HDGLQJ
$GG WP$YH&KDU:LGWK ,QW7R6WU WP$YH&KDU:LGWK
$GG WP0D[&KDU:LGWK ,QW7R6WU WP0D[&KDU:LGWK
$GG WP:HLJKW ,QW7R6WU WP:HLJKW
LI WP,WDOLF ! WKHQ
$GG WP,WDOLF <(6
HOVH
$GG WP,WDOLF 12
LI WP8QGHUOLQHG ! WKHQ
$GG WP8QGHUOLQHG <(6
HOVH
$GG WP8QGHUOLQHG 12
LI WP6WUXFN2XW ! WKHQ
$GG WP6WUXFN2XW <(6
HOVH
$GG WP6WUXFN2XW 12

=eZ\Z |
*',rjbnlu b ]jZnbdZ |
|
|
|
|
:gZeba lbiZ rjbnlZ
3LWFK7HVW WP3LWFK$QG)DPLO\ DQG 3,7&+B0$6.
LI 3LWFK7HVW DQG 703)B),;('B3,7&+ 703)B),;('B3,7&+ WKHQ
$GG WP3LWFK$QG)DPLO\ 3LWFK )L[HG 3LWFK
LI 3LWFK7HVW DQG 703)B9(&725 703)B9(&725 WKHQ
$GG WP3LWFK$QG)DPLO\ 3LWFK 9HFWRU
LI 3LWFK7HVW DQG 703)B758(7<3( 703)B758(7<3( WKHQ
$GG WP3LWFK$QG)DPLO\ 3LWFK 7UXH W\SH
LI 3LWFK7HVW DQG 703)B'(9,&( 703)B'(9,&( WKHQ
$GG WP3LWFK$QG)DPLO\ 3LWFK 'HYLFH
LI 3LWFK7HVW WKHQ
$GG WP3LWFK$QG)DPLO\ 3LWFK 8QNQRZQ
:gZeba k_f_ckl\Z rjbnlZ
)DPLO\7HVW WP3LWFK$QG)DPLO\ DQG )$0,/<B0$6.
LI )DPLO\7HVW DQG ))B520$1 ))B520$1 WKHQ
$GG WP3LWFK$QG)DPLO\ )DPLO\ ))B520$1
LI )DPLO\7HVW DQG ))B6:,66 ))B6:,66 WKHQ
$GG WP3LWFK$QG)DPLO\ )DPLO\ ))B6:,66
LI )DPLO\7HVW DQG ))B02'(51 ))B02'(51 WKHQ
$GG WP3LWFK$QG)DPLO\ )DPLO\ ))B02'(51
LI )DPLO\7HVW DQG ))B6&5,37 ))B6&5,37 WKHQ
$GG WP3LWFK$QG)DPLO\ )DPLO\ ))B6&5,37
LI )DPLO\7HVW DQG ))B'(&25$7,9( ))B'(&25$7,9( WKHQ
$GG WP3LWFK$QG)DPLO\ )DPLO\ ))B'(&25$7,9(
LI )DPLO\7HVW WKHQ
$GG WP3LWFK$QG)DPLO\ )DPLO\ 8QNQRZQ
$GG WP&KDU6HW ,QW7R6WU WP&KDU6HW
$GG WP2YHUKDQJ ,QW7R6WU WP2YHUKDQJ
$GG WP'LJLWL]HG$VSHFW; ,QW7R6WU WP'LJLWL]HG$VSHFW;
$GG WP'LJLWL]HG$VSHFW< ,QW7R6WU WP'LJLWL]HG$VSHFW<
HQG HQG
HQG
< f_lh^_ )RUP$FWLYH kgZqZeZ kqblu\Z_lky bfy rjbnlZ k ihfhsvx nmgdpbb :LQ $3, *HW7H[W)DFH dhlhjZy \ dZq_kl\_ iZjZf_ljh\ ijbgbfZ_l dhgl_dkl mkljhckl\Z jZaf_j [mn_jZ b kZf kbf\hevguc [mn_j k h]jZgbqb\Zxsbf gmev kbf\hehf AZl_f \uau\Z_lky nmgdpby *HW7H[W0HWULFV ^ey aZiheg_gby kljmdlmju 7[0HWULF bf_xs_c lbi 77(;70(75,& bgnhjfZpb_c khhl\_lkl\mxs_c \u[jZgghfm rjbnlm Ihke_ wlh]h klZjZgbyfb h[jZ[hlqbdZ kh[ulbc agZq_gby kljmdlmju 7[0HWULF ^h[Z\eyxlky \ hdgh kibkdZ \ dZq_kl\_ kljhd Qlh[u hlh[jZablv lbi rjbnlZ b k_f_ckl\h d dhlhjhfm hg ijbgZ^e_`bl agZq_gb_ WP3LWFK$QG)DPLO\ fZkdbjm_lky ^ey \u^_e_gby klZjrbo beb feZ^rbo jZajy^h\ \ aZ\bkbfhklb hl lh]h qlh bf_ggh²lbi beb k_f_ckl\h²hij_^_ey_lky \ ^Zgguc fhf_gl ihke_ q_]h agZq_gby lZd`_ ^h[Z\eyxlky \ hdgh kibkdZ NhjfZ ^ey hlh[jZ`_gby bgnhjfZpbb h rjbnl_ ihdZaZgZ gZ jbk

=eZ\Z |
*',rjbnlu b ]jZnbdZ |
|
|
|
|
Jbk NhjfZ ^ey hlh[jZ`_gby bgnhjfZpbb h rjbnl_
J_axf_
L_i_jv \u [eb`_ ihagZdhfbebkv k \hafh`ghklyfb ]jZnbq_kdh]h bgl_jn_ckZ mkljhckl\*', :LQ< wlhc ]eZ\_ jZkkfZljb\Zeky deZkk 'HOSKL 7&DQYDV _]h k\hckl\Z b f_lh^u jbkh\Zgby Fgh]h \gbfZgby m^_eyehkv ij_^klZ\e_gbx bah[jZ`_gbc k ihfhsvx dhfihg_glZ 'HOSKL 7,PDJH Z lZd`_ j_`bfZf hlh[jZ`_gby b dhhj^bgZlguf kbkl_fZf :LQ Djhf_ lh]h h[km`^Zebkv f_lh^u ]jZnbq_kdh]h ijh]jZffbjh\Zgby ^ey ihkljh_gby ijh]jZff jbkh\Zgby b \uiheg_gby ijhklhc ZgbfZpbb Z gZ ^_k_jl [ueb ih^Zgu rjbnlu <u magZeb h f_lh^Zo bo kha^Zgby b hlh[jZ`_gby bgnhjfZpbb h gbo kZfbo KZfh_ p_ggh_ \ jZ[hl_ k bgl_jn_ckhf *', aZdexqZ_lky \ lhf qlh wdki_jbf_glbjmy k _]h nmgdpbyfb \Zf g_ m^Zklky mf_j_lv hl kdmdb ;he__ lh]h \Zf aZohq_lky kha^Zlv qlh lh gh\h_ gZijbf_j gh\uc rjbnl beb ih djZcg_c f_j_ h`b\blv k\hb ijh_dlu dZdbfb gb[m^v bgl_j_kgufb wnn_dlZfb Ihwlhfm ^_jaZcl_²\k_ \ \Zrbo jmdZo