$95
(
7KH µ%DVLF¶ 6HWXS 0HQXV
± *HQHUD 6HWWLQJV
0D[ 9R XPH 7KLVOLPLWVWKHPD[LPXPYROXPHVHWWLQJWKHV\VWHPFDQEHWXUQHG XSWR7KLVLVDXVHIXOIHDWXUHWRSUHYHQWDFFLGHQWDORYHUGULYLQJRIORZSRZHU KDQGOLQJVSHDNHUVIRUH[DPSOH
0D[ 2Q 9R XPH /LPLWVWKHPD[LPXPYROXPHWKHV\VWHPRSHUDWHVDWZKHQLWLV ¿UVWVZLWFKHGRQ7KHV\VWHPFRPHVRQDWWKHµ0D[2Q9ROXPH¶LIWKHODVWXVHG SRVVLEO\YHU\ORXG YROXPHH[FHHGVWKLVYDOXH
'H D\ XQLWV &RQWUROVZKHWKHUWKHGHOD\VHWWLQJVIRUWKHVSHDNHUVLQVXUURXQG PRGHVDUHVSHFL¿HGLQ,PSHULDORU0HWULFPHDVXUHPHQWVIURPWKHOLVWHQLQJ SRVLWLRQRULQWHUPVRIWLPH(LWKHUHQWHUWKHWLPHGHOD\WRHDFKFKDQQHOLI FDOFXODWLQJWKHGHOD\LQPLOOLVHFRQGVRUVHOHFWEHWZHHQ,PSHULDORU0HWULF PHDVXUHPHQWVDQGDOORZWKH$95WRFDOFXODWHWKHWLPHGHOD\DXWRPDWLFDOO\ ,PSHULDOLVPHDVXUHGLQIHHWDQG0HWULFLVPHDVXUHGPRUHSUHFLVHO\LQP FP LQFUHPHQWV IRRWLVDSSUR[LPDWHO\PHWUHV
1RWHWKDWFKDQJLQJWKHXQLWVUHVHWVDOOGLVWDQFHVWLPHVWR]HUR,WLVWKHUHIRUH
LPSRUWDQWWRFKRRVHWKHXQLWV 7LPH,PSHULDORU0HWULF EHIRUHVHWXS
26' 0RGH &RQWUROVKRZWKHRQVFUHHQGLVSOD\LVYLHZHG
0,;(' WKH26'ZLOODSSHDURQWRSRIWKHH[LVWLQJYLGHRSLFWXUH
)8// 3$*( WKH26'LVGLVSOD\HGLQZKLWHRQDIXOOVFUHHQEODFNEDFNJURXQG 2QYLGHRVLJQDOVWKDWKDYHDV\QFUDWHRIJUHDWHUWKDQWKHQRUPDOLQWHUODFHGUDWH LH SURJUHVVLYHVFDQIUDPHVFDOHGYLGHR+'79 WKH26'ZLOODXWRPDWLFDOO\JRLQWR)XOO3DJHPRGH EODFNEDFNJURXQG VRWKDWWKHFRQWUROPHQXFDQEHDFFHVVHG$Q\SRSXSGLVSOD\V VXFKDVWKH YROXPHEDUVRXUFHVHOHFWLRQLQIRUPDWLRQHWF ZLOOEHVZLWFKHGRII
9LGHR 6WDWXV 7KHYLGHRVWDWXVFRQWUROLVLQWHQGHGIRUXVHZLWK6&$57FRQQHFWLRQVEXWPD\¿QG XVHIRURWKHUSXUSRVHV,WLVSRVVLEOHWRXVHD6&$57FRQQHFWLRQEHWZHHQWKH$95DQG\RXU WHOHYLVLRQHYHQWKRXJKWKH$95GRHVQRWKDYHD6&$57VRFNHW DSLQRXWIRUD6&$57OHDG VXLWDEOHIRUWKLVSXUSRVHLVJLYHQRQSDJH:HVXJJHVWWKHµ64$57¶FDEOHVPDQXIDFWXUHGE\ 4(' ZZZTHGFRXN SOHDVHDVN\RXUGHDOHUIRUGHWDLOV
7KLVVHWWLQJFRQWUROVWKHWZRYLGHRWULJJHUV RQWKHUHDUSDQHODQGLVXVHGWRLQIRUPWKH $95ZKLFKW\SHRIYLGHRFRQQHFWLRQLVSUHVHQWEHWZHHQLWDQG\RXU79LQRUGHUWKDWWKH $95FDQVHWWKHFRQWUROOLQHVFRUUHFWO\IRU6&$57FRQQHFWLRQV1RWHWKDWLI\RXGRQRWZLVKWR XVHWKHYLGHRWULJJHUVRUD6&$57FRQQHFWLRQWKHQLWGRHVQRWPDWWHUZKLFKYDOXHWKLVLWHPKDV
7KLVLWHPKDVIRXUVHWWLQJV &20326,7(69,'(25*%DQG6&51 &75/
&20326,7( 7KLVPRGHLVXVHGWRLQGLFDWHWR\RXU79WKDWFRPSRVLWHYLGHRLVEHLQJVHQW,WXVHV WKHWULJJHUODEHOOHG5*% ZKLFKVKRXOGEHFRQQHFWHGWRWKH5*%6&$57LQSXWRQ\RXU79 DVVKRZQ6HOHFWWKLVRSWLRQLI\RXDUHXVLQJWKHFRPSRVLWHYLGHRRXWSXWRIWKH$95 7KH69,'(2WULJJHULVQRWDFWLYHLQWKLVPRGH
69,'(2 7KLVPRGHLVXVHGWR | 5*%WULJJHURXWSXWZLWK&20326,7(VHOHFWHG |
|
|
|
| |||
LQGLFDWHWR\RXU79WKDW6YLGHRLV | &RQQHFWRU | )XQFWLRQ | 9ROWDJH |
|
|
|
| |
EHLQJVHQW,WXVHVWKHWULJJHUODEHOOHG |
|
|
|
| ||||
69,'(2 DVVKRZQ6HOHFWWKLV | 7LS | 5*%PRGHVHOHFW | 9 |
|
|
|
| |
RSWLRQLI\RXDUHXVLQJWKH6YLGHR | 5LQJ | 5*%FRPSRVLWH6&$57LQSXW | 9LGHRSUHVHQWDVSHFW |
| 9 | |||
RXWSXWRIWKH$95 |
| |||||||
| VHOHFW &9%6VWDWXV | 9LGHRSUHVHQWDVSHFW | 9 | |||||
1RWHWKDWLIWKLVRSWLRQLVVHOHFWHG |
| |||||||
| $VSHFWUDWLR | 1RYLGHRVLJQDO 9 |
|
|
| |||
WKHFRQQHFWLRQODEHOOHGµ6YLGHR |
|
|
|
| ||||
|
|
|
|
|
|
| ||
6&$57¶ RUVLPLODU PXVWEHXVHGRQ | 6OHHYH | *URXQG | 9 |
|
|
|
| |
|
|
|
|
|
|
| ||
WKH79DVQRWDOO6&$57FRQQHFWRUV | 69,'(2WULJJHURXWSXWZLWK69,'(2 VHOHFWHG |
|
|
|
| |||
DUHZLUHGIRU6YLGHR |
|
|
|
| ||||
|
|
|
|
|
|
| ||
7KH5*%WULJJHULVQRWDFWLYHLQWKLV | &RQQHFWRU | )XQFWLRQ | 9ROWDJH |
|
|
|
| |
PRGH |
|
|
|
| ||||
|
|
|
|
|
|
| ||
| 7LS | 9LGHRVRXUFHWULJJHU | $Q\YLGHRVRXUFHVHOHFWHG |
| 9 | |||
5*% 7KLVPRGHLVXVHGWRLQGLFDWHWR |
|
| 1RYLGHRVRXUFHVHOHFWHG | 9 | ||||
|
|
|
|
|
|
| ||
\RXU79WKDW5*%YLGHRLVEHLQJVHQW | 5LQJ | 6YLGHR6&$57LQSXWVHOHFW | $VSHFW | 9 |
|
|
| |
,WXVHVWKHWULJJHUODEHOOHG5*%DV |
| &9%6VWDWXV | $VSHFW | 9 |
|
|
| |
VKRZQ6HOHFWWKLVRSWLRQLI\RXDUH |
| $VSHFWUDWLR | 1RYLGHRVLJQDO 9 |
|
|
| ||
XVLQJWKH5*%RXWSXWRIWKH$95 | 6OHHYH | *URXQG | 9 |
|
|
|
| |
,IWKLVRSWLRQLVVHOHFWHGWKH |
|
|
|
| ||||
|
|
|
|
|
|
| ||
FRQQHFWLRQODEHOOHGµ5*%6&$57¶ RU | 5*%WULJJHURXWSXWZLWK5*% VHOHFWHG |
|
|
|
|
| ||
VLPLODU PXVWEHXVHGRQWKH79DV |
|
|
|
|
| |||
|
|
|
|
|
|
| ||
QRWDOO6&$57FRQQHFWRUVDUHZLUHG | &RQQHFWRU | )XQFWLRQ | 9ROWDJH |
|
|
|
| |
IRU5*% | 7LS | 5*%PRGHVHOHFW | 5*%YLGHR | 9 LQWRDRKP | ||||
7KH69,'(2WULJJHULVQRWDFWLYHLQ | ||||||||
|
| ORDG |
|
|
|
| ||
WKLVPRGH |
|
|
|
|
|
| ||
5LQJ | 5*%FRPSRVLWH6&$57LQSXW | 9LGHRSUHVHQWDVSHFW |
| 9 | ||||
|
| |||||||
6&51 &75/ 7KHWZRYLGHRWULJJHUVRQ |
| VHOHFW &9%6VWDWXV | 9LGHRSUHVHQWDVSHFW | 9 | ||||
|
| 1RYLGHRVLJQDO 9 |
|
|
| |||
WKHUHDUSDQHOKDYHWKHVDPHVLJQDO |
| $VSHFWUDWLR |
|
|
| |||
|
|
|
|
|
|
| ||
IRUDOORXWSXWV7KLVZLOOEH9 | 6OHHYH | *URXQG | 9 |
|
|
|
| |
ZKHQDQ\YLGHRVRXUFHLVVHOHFWHG |
|
|
|
|
|
|
| |
RWKHUZLVH97KLVFDQEHXVHG IRU | 5*%DQG69,'(2WULJJHURXWSXWVZLWK6&51 &75/ VHOHFWHG |
|
|
| ||||
H[DPSOH WRXQIXUOSURMHFWRUVFUHHQV | &RQQHFWRU | )XQFWLRQ | 9ROWDJH |
|
|
|
| |
DXWRPDWLFDOO\ZKHQDYLGHRVRXUFHLV |
|
|
|
| ||||
|
|
|
|
|
|
| ||
VHOHFWHG | 7LS | 0DLQ]RQHRQWULJJHU | 0DLQ]RQHWXUQHGRQ | 9 |
| |||
|
|
| 0DLQ]RQHWXUQHGRII | 9 |
|
| ||
| 5LQJ | 0DLQ]RQHRQWULJJHU | 0DLQ]RQHWXUQHGRQ | 9 |
| |||
|
|
| 0DLQ]RQHWXUQHGRII | 9 |
|
| ||
| 6OHHYH | *URXQG | 9 |
|
|
|
| |
