PDJH4XDOLW\3UREOHPV, Qhdududgldwru

,PDJH4XDOLW\3UREOHPV

9DULRXVVLWXDWLRQVFDQDIIHFWWKHTXDOLW\RIWKHRXWSXW&KHFN

WKHIROORZLQJFRQGLWLRQVWRHQVXUHRSWLPXPFRS\DQGSULQW SHUIRUPDQFH

,I\RXVWLOOFDQQRWUHVROYHWKHSUREOHPFRQWDFWWKH.H\

2SHUDWRURUDORFDOVHUYLFHUHSUHVHQWDWLYH

'RQRWORFDWHWKH:RUN&HQWUH3URLQGLUHFWVXQOLJKWRU

QHDUDUDGLDWRU

$YRLGVXGGHQWHPSHUDWXUHDQGKXPLGLW\FKDQJHVLQWKH :RUN&HQWUH3UR¶VHQYLURQPHQW:KHQDFKDQJH RFFXUVDOORZWKH:RUN&HQWUH3URDWOHDVWWZRKRXUV

WRDGMXVWLWVVHWWLQJVWRWKHQHZHQYLURQPHQWGHSHQGLQJ RQWKHVHYHULW\RIWKHFKDQJH

)ROORZUHJXODUPDLQWHQDQFHVFKHGXOHVIRUFOHDQLQJDUHDV VXFKDVWKH'RFXPHQW*ODVV&97DQGRXWSXWWUD\V5HIHU WR³&OHDQLQJWKH:RUN&HQWUH3UR´RQ3DJH

,IWKHFRS\TXDOLW\LVSRRUZLWKXQHYHQIDLQWGHJUDGHG SULQWRUDZKLWHOLQHLVYLVLEOHLQWKHGLUHFWLRQRIWKHSDSHU IHHGFOHDQWKH7UDQVIHU&RURWURQ:LUH5HIHUWR³7UDQVIHU &RURWURQ:LUH´RQ3DJH

%DVLF7URXEOHVKRRWLQJ

:RUN&HQWUH3UR8VHU*XLGH

Page 375

Image 375

$Xerox 416 manual PDJH4XDOLW\3UREOHPV, Qhdududgldwru, 2SHUDWRURUDORFDOVHUYLFHUHSUHVHQWDWLYH$

Contents

8VHU*XLGH RUN&HQWUH3UR \SRJUDSKLFDOHUURUVZLOOEHFRUUHFWHGLQVXEVHTXHQWHGLWLRQV 3UHSDUHGE\‹E\HUR&RUSRUDWLRQ$OOULJKWVUHVHUYHG FRPSDQLHVDUHKHUHE\DFNQRZOHGJHG 7DEOHRI&RQWHQWV 0XOWL$FFHVV&RPPXQLFDWLRQV RS\ KDQJLQJ3ULQWHUHIDXOWV QWHUQHWDDQG6FDQWRPDLO3URFHGXUH 6WDQGDUG,QWHUQHWDDQGPDLOHDWXUHV 0DFKLQHHIDXOWV6HWXSV $SSHQGL$6DIHW\1RWHV$ 7DEOHRI&RQWHQWVYLLL HURRUN&HQWUH3UR8VHU*XLGH $ERXW7KLV*XLGH LQGLQJ,QIRUPDWLRQLQWKH8VHU*XLGH 6SHFLILFDWLRQV$SSHQGL% 0DLQWDLQLQJWKH3URGXFW&KDSWHUDVLF7URXEOHVKRRWLQJ&KDSWHU 6DIHW\1RWHV$SSHQGL$ Lvlqvwdoohgrufrqyhqlhqfhdqgixwxuhuhihuhqfhsohdvh XVWRPHU6XSSRUWBbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbb 6HULDO1XPEHU3ODWH 3RUWUDLW Rqyhqwlrqv2ULHQWDWLRQ PDJH2ULHQWDWLRQ HHG2ULHQWDWLRQ 2ULHQWDWLRQ62ULHQWDWLRQ 4XLFN3DWKZD\ WDOLF7\SHIDFH Duqlqjv 1RWHV+LQWV Dxwlrqv QIRUPDWLRQDYDLODEOHIRUWKHRUN&HQWUH3URFRQVLVWVRI 5HODWHG,QIRUPDWLRQ6RXUFHV RUN&HQWUH3UR8VHU*XLGH 7KLVFKDSWHUSURYLGHVDQRYHUYLHZRIWKHRUN&HQWUH3UR 3URGXFW2YHUYLHZ $GGHGHDWXUHV \VWHP2YHUYLHZ5HDG\WRFRS\ Qwhuidqxpehupd 8VLQJHSDUWPHQW&RGHV QwhughsduwphqwfrghIxqfwlrqvlvdoorzhg Ljxuh RUN&HQWUH3UR2Q2II6ZLWFK 6WDQG URQW&RYHU Ljxuh Rqwuro $XWRPDWLFRFXPHQW3DQHO 2XWSXW Rqwuro XQGHU$ RUN&HQWUH3UR3LXSOH$XWRPDWLF RFXPHQWHHGHU$ URQW&RYHU RUN&HQWUH3UR6L3DQHO Rqyhqlhqfh 2IIVHW 6WDSOHU &DWFK 2Q2II6ZLWFK \SDVV Grfxphqwjodvv Rpsrqhqwv$XWRPDWLFRFXPHQWHHGHU$ XSOH$XWRPDWLFRFXPHQWHHGHU$ \SDVV7UD\ 2SWLRQDO$GGLWLRQDO0HPRU\Gdpdjh TXDOLW\ RQWURO3DQHO&RPSRQHQWVDQGXQFWLRQ.H\VLjkwhqdunhq 6HOHFWWRDGMXVWWKHLPDJHFRQWUDVW 5HGXFHQODUJH Sdshu 3DSHU6XSSO\ \ERDUG DffhvvwrSUHVVLQJWKHVHNH\V LUHFW$FFHVV.H\V Ruljlqdov 0DQXDOLDO DjdlqHqwhuhg 6WDUW Pdghwrwkhfxuuhqwvfuhhq 6FUROO.H\V Hohwh HOHWHVDQHLVWLQJFKDUDFWHUHQWU\QWHUNH\ Vfuhhq Pdloixqfwlrqv OLS3DQHOIxqfwlrqv 7KHUHDUHWKUHHIOLSSDQHOVDYDLODEOH Ryhu OLS3DQHO QVHUWDQGHOHWH.H\V Kdudfwhuqwulhv1XPHULF.H\SDG 6FUROO.H\V KDUDFWHU&RGH7DEOH 6HOHFW\RXUUHTXLUHGFKDUDFWHUE\XVLQJ RU NH\DQG SUHVVQWHU@Suhvvhg RUN&HQWUH3UR8VHU*XLGH RUUHFWLQJ&KDUDFWHUV 6SHHGGLDOQwhuqdphpd Qwhuqdphpd QVHUW@ NH\DQGSRVLWLRQWKH Ghohwhg 3UHVVHOHWH@ RFDWHWKH212VZLWFK 3UHVVOWRSRZHURQWKH 3RZHU6ZLWFK 3RZHULQJ2Q3RZHULQJ2II Hohfwulfdorxwohw 3RZHU6DYH 6WDQGE\0RGH 6OHHS0RGHQHUJ\6DYHUQHUJ\6DYHU/LJKW QHUJ\ 6DYHU.H\ 6OHHS0RGHQHUJ\6DYHU 6WDQGE\0RGH 0DFKLQH6WDWXV 0RGHVHdwxuhv RE6WDWXV RE6WDWXV.H\ HDWXUHV.H\ Hidxowvhwwlqjv 0DFKLQHVWDWXV3ULQWUHSRUW Qlwldovhwxs 0DFKLQH6WDWXV2SWLRQV $XWRWHVW Qglylgxdowhvw 3ULQWWHVWUHVXOW Hsduwphqwfrgh 6HWWLQJVUHSRUW 6XSSOLHVRUGHUUHSRUWRfdoldwlrq Dqjxdjh 0DFKLQHVHULDOQXPEHU Xvwrphuvxssruw 1HWZRUN RUN&HQWUH3UR8VHU*XLGH 5HIHUWRWKH0XOWL$FFHVVXQFWLRQ7DEOHVWKDWIROORZ 0XOWL$FFHVV&RPPXQLFDWLRQVUhfhlylqjdgrfxphqw 8VLQJWKHEXLOWLQPHPRU\PDQ\RSHUDWLRQVFDQEH LUHFW6HQG 3ULQWLQJ 0XOWL$FFHVVXQFWLRQ7DEOH/RFDO6LQJOH&RS\ 0DLOER,QSXW 0DLOER2XWSXW Vdph LUHFW6HQG 3ULQW5HSRUW$XWR 0XOWL$FFHVVXQFWLRQ7DEOH30DLOER,QSXW 0DLOER2XWSXW 3ULQW5HFHLYHGLOH LUHFW6HQG 3ULQW5HSRUW0DQXDO RUN&HQWUH3UR8VHU*XLGH 6WDQGDUGHDWXUHV $XWRPDWLFRFXPHQWHHGHU$DQG XSOH$XWRPDWLFRFXPHQWHHGHU$ RS\LQJ3URFHGXUHRDGWKH2ULJLQDOV Vlghgruljlqdov 6OLGLQJ Jxlghv UhtxluhgWkhruljlqdov 7KHILUVWSDJHVKRXOGEHRQ 6HHSDJHLI\RXDUH RFXPHQW*ODVVGrfxphqwjodvvfryhu 5HJLVWUDWLRQ Ruqhu 3UHVVWKHHDWXUHV.H\ 3UHVVHDWXUHV@RS\.H\HDWXUHV.H\ Ljkwhqdunhqsdjh 5HGXFHQODUJHSDJH 6HOHFWWKH&RS\HDWXUHVVhohfwlrq LGHQWLI\LQJZKLFKRSWLRQLVVHOHFWHG QWHUWKH4XDQWLW\ 3UHVV6WDUW@DFKRULJLQDOLV VFDQQHGRQFHRQO\ 3UHVV6WDUW JPOESDSHU7KHVWDSOHFDUWULGJHKROGVVWDSOHV RQYHQLHQFH6WDSOHULwkwkhgrfxphqwvidfhxs Lqwrwkhvwdsohu 7KHVWDSOHUDXWRPDWLFDOO\ Vwdsohvwkhgrfxphqwv 8VLQJ-RE,QWHUUXSW PDJH6KLIWDQGGJHUDVHSDXVHWKHFXUUHQWMREWRPDNHDFRQYHQLHQFHFRS\ 2XWSXW2SWLRQV 6WDQGDUG&RS\HDWXUHV2XWSXW 2XWSXW 3UHVVVWDUWWRUHVXPH 6FDQQHWRULJLQDO RQH 0DNLQJ&ROODWHG6HWVIURPWKHRFXPHQW*ODVV3URJUDPWKHIHDWXUHV Uhtxluhg 3ODFHWKHILUVWRULJLQDORQWKH Grfxphqwjodvvdqgsuhvv Rdgruljlqdov LjkwhqdunhqLjkwhq Dunhq 0DQXDO 7RQHU6DYHU Rxwsxw LJKWHQDUNHQ2SWLRQV 6LHIRUVLHFRSLHV 5HGXFHQODUJH5HGXFHQODUJH2SWLRQV Qodujh $XWR 3UHVHW RUWKH$PHULFDVDQG&DQDGDWKHSUHVHW5HGXFHQODUJH Vhwwlqjvduh 3DSHU6XSSO\2SWLRQV 3DSHU6XSSO\3DSHU $XWR3DSHU 3KRWR 2ULJLQDO7\SH2ULJLQDO7\SH2SWLRQV 7HW3KRWR $GGHGHDWXUHV VlghgPDJH6KLIW 8VHWKHVFUROONH\ WR 6LGHG2ULJLQDO!&RS\ 6LGHG2SWLRQV Jodvv RXQG2ULJLQDORX QG2ULJL QDO 2Q%RWKSDJHV 2Q%LQGHUUDVH 2Q%RWK3DJHV &RSLHVERWKSDJHVRIDQRSHQERXQGGRFXPHQWDQGSODFHV RXQG2ULJLQDO2SWLRQV2II 7KHIHDWXUHLVXQDYDLODEOH Hdfksdjhrqdvhsdudwhvkhhwrisdshu PDJH6KLIW2SWLRQV PDJH6KLIWPdjh 6KL IW HIW0DUJLQ 5LJKW0DUJLQ 8VHWKHVFUROONH\ WR VHOHFWGJHUDVH@DQG SUHVVQWHU@ GjhudvhGjhudvh GJHUDVH2SWLRQV 8S2SWLRQV Fruuhfwrughuwrsurgxfhderrnohw RrnohwDqglqfkruljlqdov LQFKFRS\SDSHU 2II RR NohwVlghg Gjhudvh $QQRWDWLRQ2SWLRQV $QQRWDWLRQ$QQRW Dwlrq 3DJHQXPEHU 8VHWKHVFUROONH\ Wrvhohfw $GGHGHDWXUHV@ XLOG-REXLOG-RE Ruljlqdov \GHIDXOW%XLOG-RELVVHWWR2II Vfdqqhg 6HOHFWRULJLQDOVLH6FDQ Qlqjlqwrphp RU\ 6FDQQLQJSDJH 7KH6HWWLQJ@VFUHHQLV 6HWWLQJRQH TXDQWLW\VHOHFWHG 7R6WRUHD-RE 6WRUHG-RE6WRUHG-RE 6WRUH 8VHWKHVFUROONH\ WR VHOHFW$GGHGHDWXUHV@ 5HWULHYH7R5HWULHYHD6WRUHG-RE 6WRUH 8VHWKHVFUROONH\ WR VHOHFW3DSHU7\SH@DQGSUHVV QWHU@ 7UDQVSDUHQF\ +HDY\ZHLJKW3DSHU7\SH2SWLRQV Pdlpxp Duhsruwirupdw 0HQX0DS0HQXPDS 3ULQWLQJDFFHSWHG Lqglylgxdouhtxluhphqwv KDQJLQJ&RS\HIDXOWVHidxowvhwwlqjv 0DFKLQHGHIDXOWV RS\HIDXOWV RS\GHIDXOWV2ULJLQDOW\SH Ljkwhqdunhq Dghidxowv 6HWWLQJV Hvfulswlrq 2ULJLQDO7\SH Wzrvlghgruljlqdov 6HWWLQJV Hvfulswlrq6LGHV,PDJHG Rqhvlghgruljlqdov RUN&HQWUH3UR8VHU*XLGH 7KHRUN&HQWUH3UR3LDQG6LKDYHWKHDELOLW\WRDOORZ IxqfwlrqvdydlodeohirusulqwlqjFRS\LQJZLWKRXWFRUUXSWLQJDSULQWMRE KHQWKHRUN&HQWUH3URLVFRQQHFWHGWRWKHQHWZRUN Dssolfdwlrqv 3ULQWLQJ3URFHGXUHUhdwhwkhrfxphqw Qhwzrun DV\RXUSULQWHU 6HOHFW3ULQW Grzqrswlrqvdqgfkhfn Erhvsurylghglqhdfk Wdeehgiroghu 6HOHFWWKH3ULQWHUULYHUHDWXUHV6HOHFW3URSHUWLHV@IURPWKH DSSOLFDWLRQ3ULQWZLQGRZ Zlqgrz VHOHFW&ORVH@ 3ULQWWKH-REKhqdoowkhuhtxluhgihdwxuhv ZLQGRZGLVSOD\V Phvvdjhv 5HWULHYHWKH3ULQW-REResurfhvvlqjzdlw Zkhqwkhmrezdvvhqw Pdloghidxowv 5HSRUWGHIDXOWV 5HPRWHVHUYLFH 0DQDJLQJ3ULQW-REV$FFHVVLQJ3ULQWHUHIDXOWV 0DFKLQHGHIDXOWV RS\GHIDXOWV Dghidxowv Rufhihhg Rupihhg 3ULQWHUGHIDXOWVDqfhofxuuhqwmre DQFHOOLQJD3ULQWMRE Dqfhofxuuhqwmre 6HWWLQJXSRUFHHHG Rufhgirupihhg RuflqjdruphhgDqfhofxuuhqwmre Rufhihhg KHQ\RXUFRS\MREKDV 8VLQJ-RE,QWHUUXSWVwduw Gjhudvh RQWURO2SWLRQV 3ULQWHUULYHUHDWXUHV 7DNHV\RXEDFNWRWKHSUHYLRXVWRSLFVFUHHQ ZLOOJLYH\RXPRUHGHWDLOHGLQIRUPDWLRQRqwhqwv 6HDUFK Lqwhuplwwhqwmrevuhtxlulqjqrqvwdqgdugsdshuvlhv 3ULQWHU&RQILJXUDWLRQQVWDOODEOH2SWLRQV Pdlqsulqwhu 0HPRU\ ,I\RXKDYHLQVWDOOHGDGGLWLRQDOPHPRU\LQWKHSULQWHUVSHFLI\ Wkhwrwdodprxqwlqvwdoohg 3DSHU2XWSXW 2IIVHWXQFWLRQRslhv 6HOHFW3DSHU GrfxphqwGhshqglqjrqorfdoh XVHIXOZKHQ\RXSULQWLWHPVVXFKDVWUDQVSDUHQFLHVDQGZDQW RswlrqVhwwlqjvlqwkhdssolfdwlrq DEODQNVKHHWRISODLQSDSHUEHWZHHQHDFKWUDQVSDUHQF\VKHHW 6LQJOHVLGHGSULQWLQJ7KLVLVWKHGHIDXOW 6LGHG3ULQWLQJRoodwlrq 8QFROODWHG Roodwhg 2XWSXWHVWLQDWLRQ OdqgvfdshrulhqwdwlrqVhohfwlqjwkhsulqwhu 3ULQWVDVWDQGDUGSDJH1RUPDOLVWKHGHIDXOW \RXW1RUPDO Erughu 3DJHVXS 0XOWLSOHXS Gldorj PDJH2SWLRQVUD\VFDOH Ghvljqhgzlwkfroru Irqwvzlooehgrzqordghgwrwkhsulqwhuiruhdfksulqwmre 7UXH7\SHRQWVDqgvkdusfrqwudvwvehwzhhqvkdghgduhdv Shuirupdqfh Lpdjh Udsklfv5HVROXWLRQ Ehfrphglvwruwhgzkhqvfdohg YHULI\LQJGRFXPHQWFRQWHQWDQGOD\RXW 3ULQW4XDOLW\ 2YHUOD\V 2YHUOD\VRDG2YHUOD\ 6HOHFW&UHDWH2YHUOD\WRRSHQWKH&UHDWH3DJH2YHUOD\ 7RFUHDWHDSDJHRYHUOD\Rudooriwkhghvwlqdwlrqv Lpsuryhsulqwshuirupdqfh 7RGRZQORDGDQRYHUOD\WRWKHSULQWHU RYHUOD\KDVEHHQGRZQORDGHG 6HOHFWHG2YHUOD\6WDWXV2YHUOD\&UHDWLRQ6WDWXV Ghvwlqdwlrq Frpsxwhu RqwvQvwdoohgrqwv Irqwvlqvwdoohgrqwkhsulqwhu Dsulqwhuuhvlghqwirqw 3ULQWRQW/LVWLQJ6WDWXV Dwwulexwhv VHOHFW$GGWRFUHDWHDQHZZDWHUPDUN DwhupdunvDwhupdun $GG Rqwv UD\VFDOH Rqwhqw 3RVLWLRQIURPFHQWHU $ERXW 8VHWKHVFUROONH\ WR VHOHFW3ULQWHUGHIDXOWV@DQG SUHVVQWHU@ KDQJLQJ3ULQWHUHIDXOWVPdloghidxowv 5HSRUWGHIDXOWV GHIDXOWVHWWLQJVWRPHHW\RXUSULQWLQJQHHGV Rufhihhg Rufhihhg Rupihhg 7HVWSULQW Hwhfwsdshuplvpdwfk3ULQWHUHIDXOWV 6HWWLQJV Hvfulswlrq Dqfhofxuuhqwmre 6HWWLQJV Hvfulswlrq Rupihhg 7HVWSULQW5HVWRUHIDFWRU\VHWWLQJV RUN&HQWUH3UR8VHU*XLGH 5HVROXWLRQ 6WDQGDUG6XSHUILQH DLQJ3URFHGXUH 7KHHIIHFWLYHVFDQQLQJZLGWKLVPPLQFKHV$GRFXPHQWJODVVIRUVLQJOHRUERXQGRULJLQDOV 7KHILUVWSDJHVKRXOGEHRQ $3RUWUDLW $5/DQGVFDSH Ruljlqdosdshuvlhpxvwehghvljqdwhg$3RUWUDLW $5/DQGVFDSH 2QFRPSOHWLRQRIWKHIDMRE 5DLVHWKHGRFXPHQWIHHGHURU QWHUQHWD.H\ HDWXUHV.H\ Sdjhv 5HVROXWLRQSDJH Ljkwhqdunhqsdjh 2ULJLQDOW\SHSDJH 6HOHFWWKHDHDWXUHV IDFKDUDFWHULVQRUPDOO\ QWHUWKHD1XPEHU\SDG Fkdudfwhu 3UHVV6WDUW@ $FFRXQWFRGHQwhudffrxqwfrgh 6WDUWNH\ Reqxpehu 6FDQQLQJLQWRPHPRU\Ldolqj Reqxpehu 6FDQQLQJSDJH 0HPRU\UHPDLQLQJ DXWRPDWLFDOO\SULQWVDUHSRUWDIWHUHDFKWUDQVPLVVLRQ 0DQDJLQJD-REV$XWRPDWLF5HGLDOLQJ Uhshdwwkhwudqvplvvlrqsurfhgxuh 5HGLDO3DXVHNH\0DQXDOLDO 5HGLDO0DQXDO5HGLDO HUR6XSSOLHV MREVFXUUHQWO\VSRROHGDUHGLVSOD\HG 0HPRU\ RE1XPEHUVDQFHOOLQJDD-RE RE6WDWXV.H\ Hohwh Hohwhwklvmre RefdqfhohgHUR Hohwh Hwdlo 8VHWKHVFUROONH\ WR Vhohfwwkhruljlqdovlhdqg SUHVV6WDUW@ XLOGLQJD-RE GLVSOD\HGDJDLQ8VHWKH VFUROONH\ Wrvhohfw RQH@DQGSUHVVQWHU@ XLOGD-RE5HVROXWLRQ 6WDQGDUG Ljkwhqdunhq $XWR Hdfkruljlqdo Sdxvh LDOLQJ0HWKRGV\SDGLDOLQJ 8VLQJWKH3KRQHERRN 5HFHLYH 0DQXDOLDO2QKRRNDQG2IIKRRNLDOLQJLdoidqxpehu Rppxqlfdwlqjvhwwlqj Rppxqlfdwlqj 5HFHLYLQJ0RGH Hvfulswlrq 6HTXHQFHRI2SHUDWLRQ 5HFHLYLQJDD Grfxphqwv FRS\LQJRSHUDWLRQ Wkhskrqh6HFXUH5HFHLYH 5HGXFH5HFHLYH Orzhusruwlrqridorqj LvfdugwudGDWDPD\EHORVW Khqhqdeohgglvfdugvxs 5HVROXWLRQRSWLRQV 6WDQGDUGDHDWXUHV5HVROXWLRQ 6XSHUILQH 4XLFN3DWKZD\ Ljkwhqdunhq Ljkwhq $XWR Dunhq 0DQXDO Kdoiwrqhruskrwrjudsklflpdjhv Looxplqdwhg Fryhu OLS3DQHO&RYHU LUHFW$FFHVV.H\V 7KH$FWLYLW\5HSRUWFRQWDLQVWKHGHWDLOVRIVHQGDQGUHFHLYH $FWLYLW\5HSRUW3ULQWQXPEHU $FWLYLW\5HSRUW2SWLRQV 6SHHGGLDOV Urxsv 2QHWRXFKNH\V 3KRQHERRN5HSRUW3KRQHERRNUHSRUW $OO5HSRUWV 6SHHGGLDOV Urxsv \1DPH3KRQHERRN5HSRUW 6SHHGLDO3KRQHERRN5HSRUW DVVLJQHGWRD2QH7RXFK.H\ 2QH7RXFK3KRQHERRN5HSRUW7RSULQWWKH6SHHGLDO3KRQHERRN5HSRUW 2QH7RXFKNH\QXPEHU 7RSULQWWKH2QH7RXFK3KRQHERRN5HSRUW $OOUHSRUWV URXS3KRQHERRN5HSRUW 6SHHGGLDOVWHP Hvfulswlrq RQILUPDWLRQ5HSRUW2SWLRQV RQILUPDWLRQ5HSRUWRqilupdwlrquhsruw UURUVRQO\ Vzlwfkwrwrqhgldolqj 7RQHLDOQxpehu Gldolqj KDUJH&RGH QXPEHUVWKDWDOZD\VUHTXLUHWKLVIHDWXUHQWHUWKH&KDUJH&RGH Ghsduwphqwhwhqvlrqvlqrwkhuorfdwlrqv KdlqldoKdlqgldo Qwhuidqxpehuru Qxpehufrqilupvwkh Dgydqfh HOD\6HQGHOD\VHQG 7LPH HOD\6HQG2SWLRQV 0DQXDO*URXS 0DQXDOJURXSQxpehuv 1HWGHVWLQDWLRQ Hohwh 0RGLI\Idwhohskrqhqxpehu 7RUHYLHZDOLVWRIWKH Qxpehuvhqwhuhgvhohfw 7RGHOHWHDGHVWLQDWLRQIURP SuhylrxvvfuhhqVhqgvwkhgrfxphqw 1HWGHVWLQDWLRQ 5HYLHZOLVW RQH Luhfwvhqg LUHFW6HQG 3ULRULW\ 3ULRULW\IDDFFHVVNH\RQIOLSSDQHO 6HQGLQJ 5HVHQG 8VLQJWKH0DLOER,787IXQFWLRQUHTXLUHVWKDWWKHPDLOER 0DLOER7KHIROORZLQJW\SHVRIPDLOERHVDUHDYDLODEOH XOOHWLQ%RDUG%R Rqilghqwldo Xoohwlqerdug 0DLOER0DLOERVHWXS UHDWLQJD/RFDO0DLOER Wrwklver 0DLOERVHWXS&RQILGHQWLDO6HWXSSDVVZRUG \SDGWRHQWHUWKH 0DLOERQXPEHUPD HohwhpdloerqxpehuHOHWLQJD/RFDO0DLOER 0DLOERVHWXS Ihdwxuhvsurjudpphg 0DLOERGHOHWHG6WRULQJDRFXPHQWLQD/RFDO0DLOER UHGLVSOD\V Hohwhfrqwhqwv Rqilghqwldo6WRUH&RQILGHQWLDO 3ULQWPDLOER 6HQGWRPDLOER 3ROOIURPPDLOER 6HOHFW&RQILGHQWLDO@WR 6HQGWRPDLOER 3ROOIURPPDLOERWkhsdvvzrug Grfxphqwiurp 3ULQW&RQILGHQWLDO 3ULQWLQJ 5HVROXWLRQ 6WDQGDUG / $XWRHOHWLQJDRFXPHQW6WRUHGLQD/RFDO0DLOER 6WRUHWRPDLOER 3ULQWPDLOER 6HQGLQJWRD5HPRWH0DLOER 7KHGRFXPHQWLVVHQWWRWKH 6HQG&RQILGHQWLDO 3ROOLQJD5HPRWH0DLOER ERDUG@ 3UHVVQWHU@7R3ROOWKHGRFXPHQWIURPD 3ROO&RQILGHQWLDO \ERDUGRQIOLSSDQHOWR RYHU6KHHWRyhuvkhhw Vhqglqjdgrfxphqw RYHU6KHHW2SWLRQV 7KH0HQX0DSSULQWVWKHQ 5HDG\PRGH3ULQWLQJ3ULQW 8VHWKLVRSWLRQWRSULQWDFRYHUVKHHW 1XPEHURISDJHV 6HFXUHUHFHLYH Lvwhqwrgldowrqh 6HQGRSWLRQV 6HFXUH6HQG 6HQG2SWLRQVLvwhqwrgldowrqh 1XPEHURISDJHV 6HFXUHUHFHLYH 6XEDGGUHVV RII 8VHWKHVFUROONH\ WR VHOHFWUURUFRUUHFW&0@ DQGSUHVVQWHU@ 6HFXUHVHQGUURU&RUUHFW&0 6HFXUH6HQG2SWLRQV 2II 8VHWKLVRSWLRQWRVZLWFKRIIUURU&RUUHFW0RGH UURUFRUUHFW&0UURU&RUUHFW&02SWLRQV DQGSUHVVQWHU@ 6XEDGGUHVV Wkhvxedgguhvv6XEDGGUHVV68% 7UDQVPLWDGRFXPHQWWRDUHPRWHVXEDGGUHVV Vxedgguhvv RII 6XEDGGUHVV6HOHFWLYHSROOLQJ63 Wlph 8VLQJWKHQXPHULFNH\SDG 6XEDGGUHVV68% 8VHWKHVFUROONH\ WR VHOHFW6XEDGGUHVV@DQG SUHVVQWHU@ 3ROOLQJDRFXPHQWXVLQJD6XEDGGUHVV 6HOHFWLYHSROOLQJ63 6HOHFWLYH3ROOLQJ63 UURUFRUUHFW&0 RQ 6HQG$IWHU6FDQ8VHWKHVFUROONH\ WR VHOHFW6HQGDIWHUVFDQ@DQG SUHVVQWHU@ 6HQG$IWHU6FDQ2SWLRQV 6HQGDIWHUVFDQ 8VHWKHVFUROONH\ WR VHOHFW/RQJRULJLQDO@DQG SUHVVQWHU@ Rqjruljlqdo 2Q 8VHWKLVRSWLRQWRHQDEOHDORQJRULJLQDOWREHWUDQVPLWWHG RQJ2ULJLQDO2SWLRQV 8VHWKHVFUROONH\ WR VHOHFW/LVWHQWRGLDOWRQH@DQG SUHVVQWHU@ LVWHQWRLDO7RQHLVWHQWRLDO7RQH2SWLRQV Sroolqjrshudwlrqvirudqlqglylgxdomre Sdjhfrxqwlvgliihuhqw 1XPEHURI3DJHV6HQGRSWLRQV Lvwhqwrgldowrqh 6HFXUHUHFHLYH 1XPEHURISDJHV Shulrgvshflilhglqwkhghidxowvhwwlqj 6HFXUH5HFHLYH0DQXDO6HQGRSWLRQV Lvwhqwrgldowrqh 1XPEHURISDJHV 6HFXUH5HFHLYH2SWLRQV 3ULQWUHSRUW 3ULQW5HSRUW6HQGRSWLRQV Lvwhqwrgldowrqh 1XPEHURISDJHV 6HFXUHUHFHLYH 3ROOLQJ 0HQXPDS 6FDQWREHSROOHG 3ROOLQJ0HQXPDS 3ROOLQJ 3ROO URXS3ROO 3ROO$GGVHFXULW\FRGH 6HFXULW\FRGH 8VHWKHVFUROONH\ WR VHOHFW3ROOLQJ@DQGSUHVV 6FDQWREHSROOHG 6HQGWKHQSROO Dqghqwhuwkhjurxsqxpehu IWKH*URXSQXPEHUVWREH 0DQXDO*URXS Jlyhqwlph 6FDQWREH3ROOHGZLWKRXWVHFXULW\RSWLRQVDVVLJQHG Rswlrqvduhdydlodeohirupxowlsrooerhv 6FDQWREHSROOHG 0XOWLSROOER6WRULQJDRFXPHQW 6HFXUHIDQXPEHUPD 3ROORQFHER6HFXULW\ RII 6HFXUHIDQXPEHU RII 6HFXULW\ RII 6HOHFW6WDUW@WRVFDQWKH 7R5HSODFHRU$GGD6WRUHGRFXPHQWGrfxphqwwrehsroohg 8VHWKHVFUROONH\ WR VHOHFW3ROOLQJ@DQGSUHVV QWHU@ 7RGHOHWHDQGUHSODFHWKH 5HWDLQGHWDLOVXVHGSUHYLRXVO\ 6HOHFWWKHFKDQJHRSWLRQ 6HQGWKHQSROO Surfhgxuh8VHWKHVFUROONH\ WR VHOHFW6HQGWKHQSROO@DQG SUHVVQWHU@ 6HOHFWDQ\DGGLWLRQDOID RQWLQXRXV3ROOLQJ Rqwlqxrxvsroo PLQ QwhuydoEhwzhhqfdoo QWHUVHFXULW\FRGH RQWLQXRXV3ROOLQJVWDUWV 7RFOHDUWKHFRQWLQXRXVSROO OhdufxuuhqwvhwwlqjvHOHWLQJ&RQWLQXRXV3ROO-REV Uhhqwhuwkhlqirupdwlrq 0HQXPDS 3ULQWLQJDFFHSWHG Uhsruwirupdw7KHPHQXPDSSULQWV QG6WDWLRQVXSWR 7875HOD\&RPPXQLFDWLRQV2ULJLQDWRU 5HOD\ 6WDWLRQ Vwdwlrqvjurxsv 6HQG5HOD\ 127$3DVVZRUGLVUHTXLUHGUHFHLYHWRD5HOD\%R 3KRQHERRNSDJH 6HWWLQJXSD5HOD\6WDWLRQ 3UHVV3KRQHERRNNH\ 2QHWRXFKNH\ 0DLOERVHWXS5HOD\5HOD\HQGQXPEHU Fuhdwh $GGQHWQXPEHU 3KRQHERRN$OSKDGLDO Urxsgldo 2QHWRXFKNH\ HUR Uhprwhxvhu 5HOD\WUDQVPLVVLRQUHSRUW0DLOERVHWXS 0DLOERGHOHWH HOHWLQJD5HOD\%R 6HOHFW0DLOERVHWXS@DQG SUHVVQWHU@ Kdqjlqjdhidxowv 0DFKLQHGHIDXOWV RS\GHIDXOWV8VHWKHVFUROONH\ WR VHOHFWDGHIDXOWV@DQG SUHVVQWHU@ 6HWWLQJV Hvfulswlrq 3KRQHERRNVHWXS DghidxowvLqhprqlwru 5HFHLYHLQWHUYDO Dhidxowv NH\V 6HWWLQJV Hvfulswlrq Lqhprqlwru$OZD\V Rshudwlrqv 5HFHLYHLQWHUYDO Ldoprgh 6HWWLQJV Hvfulswlrq 5HVROXWLRQ 1RRIUHGLDOV 6HWWLQJV Hvfulswlrq 5HGLDOVQwhuydo XVLQJWKHVFUROONH\V 0HPRU\VHQG 6HWWLQJV Hvfulswlrq $QVZHUPRGH 6HWWLQJV Hvfulswlrq 6HFXUHVHQG Ryhuvkhhw5HVHQGVWRUHGID 6HSDUDWRUSDJH 6HWWLQJV Hvfulswlrq 6HQGKHDGHU6HQGDIWHUVFDQ $FFRXQWFRGH 6HWWLQJV 6HFXUHUHFHLYH5HFHLYHWRPHPRU\ 5HFHLYHKHDGHU 6HWWLQJV Hvfulswlrq 5HGXFHUHFHLYHLvfdughwud 5HIXVHMXQNPDLO D5HSRUWV 6WDWXV DpsohRGH 33ROOLQJ 0DLOER D3ROO5HOD\5HSRUWV RQILUPDWLRQ5HSRUWRQILUPDWLRQ5HSRUW0HPRU\6HQG URXS6HQG5HSRUW URXS3ROO5HSRUW Qeuv Zkhuhdqhuururffxuuhg8QVXFFHVVIXO 1XPEHURISDJHVWUDQVPLWWHG 5HOD\2ULJLQDWRU5HSRUW5HOD\ERQXPEHU Uhgxfhsulqw 5HOD\6WDWLRQ5HSRUW 6XFFHVVIXOQEUV LVWRI6SHHGLDO2QH7RXFKRU*URXS 5HOD\HVWLQDWLRQ5HSRUWQeuv Qxpehuvzkhuhdqhuururffxuuhg Zdvhqwhuhg RFDOWR0DLOER5HSRUW 5HPRWHWR0DLOER5HSRUW 5HOD\6WDWLRQ5HSRUWReqxpehu 0DLOERQEU 0DLOERQXPEHU 0DLOERW\SH Erdug Lqglylgxdoqhhgv KDQJLQJ5HSRUWVHIDXOWV5HSRUWGHIDXOWV 5HFHSWLRQUHSRUWV Frppxqlfdwlrqvrffxu 5HSRUWHIDXOWV2SWLRQV Hvfulswlrq $FWLYLW\UHSRUW RU5HFHLYHG@ $XWRSULQW Rqilupdwlrquhsruw 2SWLRQV Hvfulswlrq DSROOUHOD\6HQGWUDQVPLVVLRQ VHOHFW2II@ DHIDXOW6HWWLQJ 2SWLRQV VhqguhvxowvRQILUP0HPRU\ 3ULQWV0HPRU\6HQG7UDQVPLVVLRQ Uhvxowv VHOHFW$OZD\V@Urxssroouhsruw 3ULQWV*URXS3ROOLQJ7UDQVPLVVLRQ 3ULQWVUHVXOWVIRU5HOD\ 2SWLRQV Hvfulswlrq5HOD\VWDWLRQ UURURQO\@ 2SWLRQV Hvfulswlrq 5HFHSWLRQUHSRUWV SDUW\Rfdowrpdloer Hidxow &XVWRP QWHUQHWDDQG6FDQWRPDLO 5HFHLYHDQGSULQWPDLOPHVVDJHVIURP3&¶VDQG 2YHUYLHZZrunvwdwlrqv 7RXVHWKH,QWHUQHWDDQG6FDQWRPDLOIXQFWLRQVWKHPDLO 7KHHIIHFWLYHVFDQQLQJZLGWKLVPPLQFKHV QWHUQHWDDQG6FDQWRPDLO3URFHGXUH Uhtxluhg 7RUQZULQNOHGFXUOHGRUIROGHGVKHHWV 127RULQVWUXFWLRQVRQ QWHUQHWD.H\HDWXUHV.H\ 6FDQWRPDLO.H\ Qwhupdlodgguhvvpd 6HOHFWWKHHDWXUHV QWHUWKHPDLO$GGUHVV MRMR#HURFRP\SDGWRHQWHUWKHHPDLO Dgguhvvriwkhuhflslhqw \ERDUGOLS3DQHO 6HOHFWRULJLQDOVLH $ $ $ Uhtxluhvfdqqlqjxvlqjwkhgrfxphqwjodvv 6FDQQHWRULJLQDO Dqgsulqwvrxwwkhpdlo 5HFHLYLQJ0RGH 7KHIROORZLQJUHFHLYLQJPRGHVDUHDYDLODEOH $XWR5HFHLYH 0DQXDO5HFHLYH7RPDQXDOO\FKHFNLIDQHPDLOKDVEHHQUHFHLYHG 3UHVVWKH5HVROXWLRQ@NH\ 6WDQGDUG,QWHUQHWDDQGPDLOHDWXUHV Iwkhuhvroxwlrqriwkh 5HVROXWLRQXvwrp DQGSUHVVQWHU@ \RXNQRZWKH5HFHLYHUSDSHU VLH 6HOHFW5HFHLYHUSDSHUVLH Ehlqjvfdqqhg Looxplqdwhg 2ULJLQDO7\SH.H\ 3KRWR LUHFW$FFHVV.H\V OLS3DQHO RUN&HQWUH3UR8VHU*XLGH WRPDLO@NH\ Frppxqlfdwlrqv 7RPDQXDOO\SULQWDQ$FWLYLW\5HSRUW 7RSULQWDOO%\1DPH6SHHGLDO2QH7RXFKDQG*URXS 3KRQHERRN5HSRUWV NH\WZLFHRUSUHVVWKH6FDQ WRPDLO@NH\ 3UHVVWKH3KRQHERRN@GLUHFW Ldoqxpehuv 6DQXPEHU 6SHHGLDO*URXSRUDQXPEHUDVVLJQHGWRD2QH7RXFK 7KHIROORZLQJLQIRUPDWLRQLVSULQWHGRQWKH2QH7RXFK 5HDG\PRGH RQILUPDWLRQUHSRUW2Q2IIVWDWXV Rwkwhohskrqhdqgpdlo 0DLOPRGH 3UHVVWKHD,QWHUQHWD@ NH\WZLFHRUSUHVVWKH6FDQ Rffxuvgxulqjwkhwudqvplvvlrq Qwhupdlodgguhvvru SUHVV3KRQHERRN RU2QHWRXFKNH\ QWHUQHWDDQG6FDQWRPDLO $SUDP 5HVROXWLRQ GSL / $XWR Uhfhlyhghpdlov Khfnpdlo3ULQWLQJD0HQX0DS $GGHGIHDWXUHV RUN&HQWUH3UR8VHU*XLGH 7KLVFKDSWHUSURYLGHVLQVWUXFWLRQVRQSODQQLQJVHWWLQJXSDQG 3KRQHERRN 8VHWKHIROORZLQJOLVWDVDQDLGLQSODQQLQJWKH3KRQHERRN 6HWWLQJXSWKH3KRQHERRN3ODQQLQJWKH3KRQHERRN Dydlodeoh Rxwvlgholqh 6HWWLQJ8S6SHHGLDO1XPEHUV UhtxluhguhsruwvGldohgdiwhuwkhuhgldodwwhpswv 8VHWKHVFUROONH\ WR VHOHFW3KRQHERRNVHWXS@ 3KRQHERRNVHWXS7R$VVLJQ6SHHGLDO1XPEHUV QWHUWKH6SHHGLDO1XPEHU Dqxpehu $OWHUQDWHIDQXPEHU Drswlrqv Pdlodgguhvv Pdlorswlrqv QWHUWKH6SHHGLDO1DPHQWHUWKHD1XPEHU 6XEDGGUHVV DrswlrqvQwhudowhuqdwhidqxpehu HOD\VHQG Rqilupdwlrquhsruw Lvwhqwrgldo Iqrdrswlrqvduh UHTXLUHGVHOHFW2II@DQG SUHVVQWHU@ 6HOHFWWKH6SHHGLDOPDLO2SWLRQV PdlorswlrqvRqilupdwlrquhsruw 5HFHLYHUFDSDELOLW\ QWHUWKHPDLO$GGUHVV Dqxpehu Drswlrqv Pdlodgguhvv Pdlorswlrqv6HOHFWRQHWRXFKNH\RU 3UHVV175LIGRQH 8VHWKHVFUROONH\ WR VHOHFWDGHIDXOWV@DQG 6HWWLQJ8S2QH7RXFK.H\V7R$VVLJQ2QH7RXFK.H\V Diwhuwkhuhgldodwwhpswv 3UHVV2QHWRXFKNH\ 2QH7RXFKNH\2QH7RXFKNH\ QWHUWKH2QH7RXFK1DPH RUN&HQWUH3UR8VHU*XLGH 6HOHFWWKH2QH7RXFKD2SWLRQV 6HOHFWWKH2QH7RXFKPDLO2SWLRQV 2QHWRXFKNH\ $OWHUQDWHIDQXPEHUQWHU6SHHGGLDOQXPEHURU 3UHVV175LIGRQH 8VHWKHVFUROONH\ WR VHOHFW3KRQHERRNVHWXS@ DQGSUHVVQWHU@ 6HWWLQJV0RGLI\LQJRUHOHWLQJ6SHHGLDORU2QH7RXFK DVVLJQHG´PHVVDJHGLVSOD\V 6SHHGLDO 2QHWRXFKNH\VZKLFKUHTXLUHVPRGLI\LQJRU Ghohwlqj Lvwhqwrldo D2SWLRQVD2SWLRQ 2SWLRQV Hvfulswlrq RQH HOD\6HQG Surpswhgqxphulfgljlwv D2SWLRQ 2SWLRQV Hvfulswlrq 6XE$GGUHVVQxphulfgljlwvpdlpxp 6XEDGGUHVV68% PDLO2SWLRQV PDLO2SWLRQ 2SWLRQV Hvfulswlrq RQH5HFHLYHU&DSDELOLW\ Lhogv Rpphqwv 6HWWLQJ8S*URXS1XPEHUV DQGSUHVVQWHU@ 8VHWKHVFUROONH\ WR 7R3UHVHW1XPEHUVWRD*URXS Qwhujurxsqxpehu UrxsURX S Pdlodgguhvvvhwxs Qwhuvshhggldo RURQHWRXFKNH\ 5HYLHZOLVW$GGQHWQXPEHU 5HYLHZOLVW Ehhqpdgh 7KH*URXSVHWWLQJLQLWLDO VFUHHQUHGLVSOD\V RUGHOHWHWKH³$OUHDG\DVVLJQHG´PHVVDJHGLVSOD\V 8VHWKHVFUROONH\ WR VHOHFW*URXSV@DQGSUHVV QWHU@ 7KH*URXSQXPEHULVGHOHWHG 0RGLI\GHVWLQDWLRQV 5HWDLQ7RHOHWHD*URXS QWHUWKH*URXSQXPEHUWR 8VLQJWKHVFUROONH\VVHOHFW HUR6XSSOLHV Hohwh 0RGLI\0RGLI\LQJD*URXS KHQ\RXKDYHFRPSOHWHG 2QH7RXFKNH\V LOOLQJRXWWKH2QH7RXFK/DEHO 6SHHGLDOLQJ $OSKDLDOLQJ Urxsldolqj 2QH7RXFKLDOLQJ 8VLQJWKH3KRQHERRN6SHHGLDOLQJ 8VLQJ6SHHGLDOLQJ $OSKDLDOLQJ 8VLQJ$OSKDLDOLQJ3KRQHERRNV 6DOHVHSDUWPHQW 6XSSOLHV $OSKDGLDO6SHHGGLDO 6DOHV 6SHHGGLDO $OSKDGLDO UrxsldolqjUrxsgldo 8VLQJ*URXSLDOLQJ 2QHWRXFKNH\ Hurxursh 2QH7RXFKLDOLQJ2QHWRXFKGLDO 8VLQJ2QH7RXFKLDOLQJ 0DLQWDLQLQJWKH3URGXFW Ohdqlqj OHDQLQJWKHRUN&HQWUH3URFOHDQLQJPDWHULDOVRQO\DVGLUHFWHGLQWKLVGRFXPHQWDWLRQ 7RHQVXUHRSWLPXPLPDJHTXDOLW\DWDOOWLPHVFOHDQWKH RQWURO3DQHO.H\ERDUG/&LVSOD\RFXPHQWHHGHUDQG2XWSXW7UD\ Gdpshqhgzlwkzdwhuru 2SHQWKH6LGH&RYHU 7UDQVIHU&RURWURQLUHSulqwrudzklwholqhdsshdulqjlqwkhgluhfwlrqriwkhsdshuihhg Vwhsvirufohdqlqjlqvwuxfwlrqv 7KH7UDQVIHU&RURWURQLUH OHDQLQJ7RROKDVWZR6KRXOGHUV Vkrxoghuv RUN&HQWUH3UR8VHU*XLGH 7UDQVIHU &RURWURQLUH Fdvlqj 7RQHU&DUWULGJH UXP&DUWULGJH 2UGHULQJ6XSSOLHVXvwrphu 3DUW1XPEHU Xursh Rqwkhfduwulgjher XVWRPHU5HSODFHDEOH8QLWV5HSODFLQJWKH7RQHU&DUWULGJH Lqvwdoodqhzwrqhufduwulgjh 5DLVHWKHFDWFKWRXQORFNDQG UHOHDVHWKH7RQHU&DUWULGJH 3XOOWKHWDEWRUHPRYHWKH QVWDOOWKH1HZ7RQHU ORVHWKHURQW&RYHU 7RRSHQWKH$XWRXSOH8QLW 5HSODFLQJWKHUXP&DUWULGJH ³5HSODFLQJWKH7RQHU XvlqjwkhlqvwuxfwlrqvDUWULGJH´RQSDJH $V\RXZLWKGUDZWKHUXP &DUWULGJHVXSSRUWLWE\ Hwhqghgshulrg 5HPRYHWKHQHZUXP Duwulgjhiurpwkher DFN URQW5LJKW Hiwurqw Iroorzlqjlooxvwudwlrqv 3XOOWDEVQXPEHUHGWR 5HPRYHWZRSLHFHVRIWDSH Wdsh RPSOHWHO\UHPRYHDOOWKH Sdshudqgdvvrfldwhgwdsh 3XOOWDEWRXQIROGSURWHFWLYH Sdshu Surwhfwlyhsdfndjlqj Ohiw Sodvwlfvwulsdorqjwkherwwrp RUN&HQWUH3UR8VHU*XLGH Uhfhswdfoh 5HLQVWDOOWKH2RQHILOWHU 5HSODFLQJWKH2RQHLOWHUOrvhdoofryhuvdqggrruv 3XVKRXWWKHHLVWLQJXVHG Orvhwkhwrsfryhuriwkh Frqyhqlhqfhvwdsohuxqlw 5HSODFLQJWKH6WDSOH&DUWULGJHWkhvwdsohuxqlw ULSSLQJWKHVLGHVRIWKH6WDSOH RDGLQJ3DSHU RDGLQJWKH3DSHU7UD\V8SWRWKUHHSDSHUWUD\VFDQEHLQVWDOOHGRQWKHRUN&HQWUH3UR \RXZLVKWRORDGSDSHURID Jxlghv Wkhluqhzsrvlwlrq 7RDGMXVWWKH/HIW*XLGHJxlghlqwrlwvqhzsrvlwlrq HIW*XLGH 0DFKLQHVWDWXV RXUZD\ QwhuGluhfwlrqdoduurzv RS\GHIDXOWV Dghidxowv 0DFKLQHGHIDXOWV3DSHUWUD\V 6HOHFWSDSHUVLH HDWXUHVNH\ RDGLQJWKH%\SDVV7UD\ RUN&HQWUH3UR8VHU*XLGH Surylghg DVLF7URXEOHVKRRWLQJ 3DSHUSDWK-DP RQYHQLHQFH6WDSOHU-DP DP&OHDUDQFH$FFHVV$UHDV 7KHUHDUHWKUHHW\SHVRIMDP Ohdusdshumdp 2SHQVLGHFRYHU 8VHWKHVFUROONH\ WR Surfhhgwrwkhqhwvwhsdqg SUHVVQWHU@ Uljkwkdqgvlghfryhu Ohdusdshumdp &ORVHVLGHFRYHU 3UHYHQWLQJ3DSHU-DPV6SHFLILFDWLRQV WKHMRE7KHRULHQWDWLRQRIWKHSDSHULQWKHSDSHUWUD\PXVW Ruljlqdo DPSOHRIRFXPHQWHHGHU$$-DP DPSOHRI&RQYHQLHQFH6WDSOHU-DP Duplqjxs3UHVVVWDUWWRUHVXPH 7KHWHOHSKRQHQXPEHURIWKHHURHOFRPH&HQWUHRU\RXU DOOLQJIRU6HUYLFHLVSOD\LQJUURU&RGHV XVWRPHU6XSSRUW7HOHSKRQH1XPEHU UURU0HVVDJHVDQG&RGHV UURU0HVVDJHVUURU0HVVDJH DQ\ORVWFRPPXQLFDWLRQ 7UD\LVQRWUHDG\ 0HPRU\HUURU XV\QRDQVZHUHdwxuhxqdydlodeoh 3RZHUIDLOXUH 0HPRU\LVIXOO OHQJWKLO\SRZHUIDLOXUH Srzhu Qxpehuriruljlqdosdjhv$GGSDSHU Uhpryhg Fryhuv UURU&RGHV7HPSRUDU\ 7UD\HUURU Phfkdqlvp Huuru 7UD\HUURU Orvhfryhuvdiwhuzdugv VhqvruFryhudiwhuzdugv MDP RSHQHGGXULQJFRS\LQJ SDSHU&ORVHFRYHUVVHQVRUIURP7UD\ Orvhfryhuv 5HPRYHSDSHUIURPWUD\ Lihhqg5HSODFHUXP&DUWULGJH 7RQHULVQHDUO\HPSW\ 5HSODFHWRQHUFDUWULGJH PDJH4XDOLW\3UREOHPV Qhdududgldwru2SHUDWRURUDORFDOVHUYLFHUHSUHVHQWDWLYH D3UREOHPV 7UDQVPLVVLRQ3UREOHPV7URXEOH KHFN3RLQW UHPRWH$HYHQWKRXJKLWLV QRUPDOO\Ihhghuruidfhgrzqrqwkhgrfxphqwjodvv Ehlqjvhqw 5HFHSWLRQ3UREOHPV 3DSHU-DP VWKHVSHFLILHGSDSHUW\SHEHLQJXVH+DVWKHSDSHUEHHQVWRUHGFRUUHFWO\ Dxvh +RZWR&RUUHFW RGH Uuru Dxvh +RZWR&RUUHFW 0DFKLQHHIDXOWV6HWXSV 7KH0DFKLQHHIDXOWVRSWLRQV KDQJLQJ0DFKLQHHIDXOWVHidxowvhwwlqjlvwkhqsurylghg 7KH0DFKLQH6WDWXVPHQX 8VHWKHVFUROONH\ WR VHOHFWDWUD\DQGSUHVV QWHU@ 3DSHU7UD\V DONXS6FUHHQ Donxsvfuhhq3DSHUWUD\V 7LPHUV 7LPHUV7LPH2XW Ydoxh 6WDQGE\0RGH7LPHRXW 6WDQGE\ PLQ 7LPHRXW 6WDQGE\PRGH 6WDQGE\PLQ 6OHHS0RGH RUN&HQWUH3UR8VHU*XLGH Lvdeoh QWHUUXSW.H\QWHUUXSWNH\ 6SHDNHUYROXPH Hsduwphqwfrgh \WRXFKYROXPH 5LQJHUYROXPH 0RQLWRUYROXPH 6SHDNHU9ROXPH6SHDNHUYROXPH QWHUUXSWNH\ Vhwwlqj 3UHVVQWHU@ Iruhdfkghsduwphqw HSDUWPHQW&RGHVWKHQPRQLWRUHDFKGHSDUWPHQW¶VXVDJH IRUVHWWLQJXSLQGLYLGXDOHSDUWPHQW&RGHV 0DVWHUFRGHQXPEHU Qwhupdvwhufrghqdphpd Hsduwphqwfrghv0DVWHUFRGH QWHUUXSWNH\ 6SHDNHUYROXPH Qwhupdvwhufrghru Qwhughsduwphqwfrgh 0DVWHUFRGHQXPEHU Qwhupdvwhufrgh6HWXSRILQGLYLGXDOHSDUWPHQW&RGHV 8VHWKHVFUROONH\ WR VHOHFWHSDUWPHQWFRGH@ DQGWKHQSUHVVQWHU@ Hohwhdoofrghv 3ULQWDOOFRGHV Hsduwphqwqxpehu QwhughsduwphqwqdphpdVhwxsvfuhhqvlvsurylghg Qwhupdvwhufrghru Qwhughsduwphqwfrgh Hsduwphqwqxpehu Qwhupdvwhufrgh 0RGLI\LQJDQGHOHWLQJHSDUWPHQW&RGHV 3UHVVQWHU@HOHWHDOOFRGHV6HOHFW0RGLI\FXUUHQWFRGHV@WRPRGLI\HLVWLQJFRGHV HS0RGLI\DUWPFXUUHQWHQWFRGHVFRGHV 7KHFRGHLVGHOHWHG Hsduwphqwqxpehu8QDYDLODEOH$OUHDG\DVVLJQHG Hsduwphqwqxpehu Hohwhg Qwhughsduwphqwqdphpd Qwhu Ghsd Uwphq Wfrgh 8VLQJHSDUWPHQW&RGHV 4XLFN3DWKZD\ 0DFKLQH6WDWXV Hidxowvhwwlqjv 5HPRWHVHUYLFH 5HPRWH6HUYLFH Rzqordgilupzduh 5HPRWHSDVVZRUG 6XSSOLHVRUGHU 5HPRWHVHUYLFH5HPRWH$FFHVV 5HPRWHDFFHVV 8VHWKHVFUROONH\ WR VHOHFWRZQORDGILUPZDUH@ DQGWKHQSUHVVQWHU@ RzqordglupzduhRzqordgilupzduh 5HPRWHDFFHVV Sdvvzrugpd 5HPRWH3DVVZRUG6HWUHPRWHSDVVZRUG 5HPRWHDFFHVV Rzqordgilupzduh 6XSSOLHV 2WKHULQIRUPDWLRQ 6XSSOLHV2UGHU6HWWLQJXSHVWLQDWLRQ 5HPRWHDFFHVV Rzqordgilupzduh 5HPRWHSDVVZRUG 7RQHURUGHULQJ Hvwlqdwlrqvhwxs6XSSOLHVRUGHU 6HOHFWVXSSOLHV 6HOHFWDXWRRUGHU Qwhusduwqxpehu QwhusduwqxpehuQWHUTXDQWLW\ 6HOHFWDXWRRUGHU Rqwdfwqdph Rqwdfwwhoqxpehu 6KLSWRQDPH 6KLSWRDGGUHVV 2WKHULQIRUPDWLRQQWHULQJ2UGHUHWDLOV Hvwlqdwlrqvhwxs 6XSSOLHV Hsduwphqwfrgh 6HWWLQJVUHSRUW 6XSSOLHVRUGHUUHSRUW3ULQWLQJWKH6XSSOLHVRUP Hidxowvhwwlqjv 3ULQWLQJ5HSRUWV Hsduwphqwfrgh 6HWWLQJUHSRUW 6XSSOLHVRUGHUUHSRUW7KHUHDUHWKUHHUHSRUWVWKDWFDQEHSULQWHGIURPWKH HSDUWPHQW&RGH5HSRUW Hsduwphqwfrgh DUG7LPHW\SHRXW 6HWWLQJV5HSRUW 6HWWLQJVUHSRUW 7R3ULQWWKH6HWWLQJV5HSRUW6XSSOLHVRUGHUUHSRUW 6XSSOLHV2UGHU5HSRUW 7R3ULQWWKH6XSSOLHV2UGHU5HSRUWRulqirupdwlrqrqvhwwlqjxswkhuhsruwuhihuwrsdjh 0DFKLQH6HULDO1XPEHU XVWRPHU6XSSRUW KDQJLQJWKH,QLWLDO6HWXSHidxowvhwwlqjv 3ULQWUHSRUW Wkhvhwxsvdydlodeoh 6HWWLQJ DWH7LPHQLWLDO6HWXS DWH7LPH 6HWWLQJ 7LPHIRUPDWGD\ 7XH 7LPHRUPDW 0RQWKRUPDW DwhirupdwDwhrupdw 6HWWLQJ 7LPHIRUPDW 0RQWKIRUPDW Phdvxuhphqwvlqlqfkhvruploolphwuhv RfdoldwlrqRfdoldwlrq 0DFKLQHVHULDOQXPEHU Xvwrphuvxssruw 1HWZRUN Wdoldqr Hxwvfk 1HGHUODQGV DqjxdjhDqjxdjh Rfdoldwlrq 0DFKLQH 0DFKLQH6HOHFW0DFKLQH,@XVLQJWKH VFUROONH\ Dqgsuhvv QWHU@ ID&RXQWU\FRGHLVQRW RXQWU\FRGH Wkhvhwxsv 0DFKLQH6HULDO1XPEHU0DFKLQHVHULDOQXPEHU 6HOHFW0DFKLQHVHULDO QXPEHU@XVLQJWKHVFUROONH\ DQGSUHVVQWHU@ XVWRPHU6XSSRUW XvwrphuvxssruwXvwrphuvxssruwqxpehu HUR6XSSO\1XPEHU HURVXSSO\QXPEHU 0DFKLQHVHULDOQXPEHU Xvwrphuvxssruw 1HWZRUN 6HOHFW0HQXPDS@XVLQJWKH 0HQX0DSHidxowvhwwlqjv 3ULQWUHSRUW Qlwldovhwxs VFUROONH\ Dqgsuhvv QWHU@ Qglylgxdowhvw 3ULQWWHVWUHVXOW 6HOI7HVW$XWRPDWLF7HVW 6HOIWHVW $XWRWHVW QGLYLGXDO7HVWQglylgxdo WHV W 8VHWKHVFUROONH\ WR VHOHFW3ULQWWHVWUHVXOW@ 3UHVVQWHU@ 3ULQW7HVW5HVXOW3ULQWWHVW $XWRWHVW Qglylgxdowhvw 6HOIWHVW XVWRPHU6XSSRUW1XPEHU 6HOHFW0DFKLQHVHULDO QXPEHU@XVLQJWKHVFUROONH\ DQGSUHVVQWHU@ 0DFKLQH6HULDO1XPEHU6HOIWHVW Xvwrphuvxssruwqxpehu HURVXSSO\QXPEHU 7RWDOSULQWFRXQWHU 0DFKLQHUHYLVLRQV XVLQJWKHVFUROONH\ DQG SUHVVQWHU@ HUR6XSSO\1XPEHU6HOIWHVW Xvwrphuvxssruwqxpehu 0DFKLQHVHULDOQXPEHU 7RWDOSULQWFRXQWHU 0DFKLQHUHYLVLRQV 7RWDOSULQWFRXQWHU 7RWDO3ULQW&RXQWHU 0DFKLQHUHYLVLRQV 0DFKLQH5HYLVLRQV RUN&HQWUH3UR8VHU*XLGH 7KLVSURGXFWLVHTXLSSHGZLWKDZLUHW\SHSOXJSURYLGHG 7KLV$51,1*0DUNDOHUWVXVHUVWRKHDWHGVXUIDFHV Xqohvvsurshuyhqwlodwlrqlvsurylghg FrxogfuhdwhdkddugrxvvlwxdwlrqPdwhuldovrxwriuhdfkrifkloguhq Gdpdjhwrwkhsurgxfw Iroorzlqjqxpehu 6DIHW\6WDQGDUGV Qjodqg 5HJXODWRU\,QIRUPDWLRQUhodwhgwrorzyrowdjhhtxlsphqw UHSUHVHQWDWLYHRUE\FRQWDFWLQJ QYLURQPHQW+HDOWKDQG6DIHW\ DXWKRULW\WRRSHUDWHWKLVHTXLSPHQW Wdnhdghtxdwhphdvxuhv Vhuylfhgdqgpdlqwdlqhgdwdoowlphv DVHU6DIHW\7KHOHFWULFLW\DWRUN5HJXODWLRQV8.21 QDWLRQDOVWDQGDUGVERG\ 7KHUHJXODWLRQGRHVQRWLPSRVHRQDPRQJVWRWKHUV VdihPDLQWDLQHGE\FRPSHWHQWSHUVRQV $165 7KHUHJXODWLRQSODFHVDGXW\RQDOOHPSOR\HUV 3OHDVHFRQWDFWWKH52/LPLWHG&XVWRPHU6HUYLFH 2UJDQLDWLRQIRUIXUWKHULQIRUPDWLRQRQWKH52HTXLSPHQWLQP\SUHPLVHV 4867,21 ,UHTXLUHUHFRUGVRIDOOWHVWV Huwlilfdwlrqwr Lqydolgdwhlwvfhuwlilfdwlrq 5HJXODWLRQV6HQG+HDGHU5HTXLUHPHQWV DWD&RXSOHU,QIRUPDWLRQ RUN&HQWUH3UR8VHU*XLGH $ PPHGLDWHO\QRWLI\\RXRIWKHLUWHPSRUDU\DFWLRQ XQGHU&&UXOHVHDUO\PRUQLQJKRXUVRUODWHHYHQLQJV 7KHWHOHSKRQHFRPSDQ\PD\PDNHFKDQJHVWRLWV 1RWLFH7KH5LQJHUTXLYDOHQFH1XPEHU51DVVLJQHGWR DQDGLDQ&HUWLILFDWLRQDuhdv 5HSDLUVWRFHUWLILHGHTXLSPHQWVKRXOGEHPDGHE\DQ QHUJ\6WDUŠ QYLURQPHQWDO&RPSOLDQFH 7KHRUN&HQWUH3URDGKHUHVWRVWULFWVSHFLILFDWLRQV $SSHQGL%6SHFLILFDWLRQV $FFHVVLELOLW\ 0DFKLQH6SHFLILFDWLRQV+DUGZDUH&RQILJXUDWLRQ 0DFKLQHHLJKW =RRPUDQJHWRLQLQFUHPHQWV RS\6SHHGRS\0DJQLILFDWLRQV DUPXS7LPH \SDVV7UD\ $SSURYHG0HGLD 6WDFNLQJ&DSDFLW\ DSSURLPDWHO\VKHHWV HOLYHU\ Idfhgrzqlqrughu HQWUH7UD\OHFWULFDO6SHFLILFDWLRQV Xursh RUN&HQWUH3UR8VHU*XLGH 6SHFLILFDWLRQVB-4 1XPHULFV$SSHQGL$6DIHW\1RWHVA-1 3URFHGXUH6-14 RQILUPDWLRQ5HSRUW0HPRU\6HQG5-117HIDXOWVHWWLQJ5-127 DOOLQJIRU6HUYLFH9-7Kdqjlqjhidxowv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

,PDJH￿4XDOLW\￿3UREOHPV

2SHUDWRU￿RU￿D￿ORFDO￿VHUYLFH￿UHSUHVHQWDWLYH￿

QHDU￿D￿UDGLDWRU￿

:RUN&HQWUH￿3UR￿￿￿￿￿8VHU￿*XLGH￿ ￿￿￿￿￿

,PDJH4XDOLW\3UREOHPV

2SHUDWRURUDORFDOVHUYLFHUHSUHVHQWDWLYH

QHDUDUDGLDWRU

:RUN&HQWUH3UR8VHU*XLGH