Beruflich Dokumente
Kultur Dokumente
#IBHBWBE(²U
?r(OQL@3LMDML
]]PN°S²QBSBNUNBOFOBNBÁ]]
Vr(LaFU¶(S@
]]BUIB°S²NBECIBHBWBEH²U]]
VeVL@D7X@X
BUIBQSBUIBNPEIZZBÁ
WSQ@uU@B
EI®UBS¹¾SBVWDB]
WL1<D`DJk<D`DRLUDS@XTXT3RU
EIBSNBL¹FUSFLVSVL¹FUSFTBNBWFUZVZVUTBWBÁ]
L@LJ@O@ZEU@o$UHJLJU1SRX
Â
NNBLÁQ´ºBW°DBJWBLJNBLVSWBUBTB¸KBZB]]]]
#IBHBWBE(²UPage 2 of 179
RXU@B
TB¸KBZBVWDB]
}PU@STO@ZEU@M(J5X4%¯X@D1WM2SC@
E®¹¾WUVQ´ºBWO²LB©WZĺIB©EVSZPEIBOBTUBE]
@B@X1LTORF,XQ@I@UBMLgU(SÆ
Â
DSZBNVQBTBµHBNZBSKWBDBOBNBCSBW²U]]]]
O9X$S@O@ZETOT`@:@L@B@X1LGS(BL4LÆ
QB°ZBJU©Q´ºVQVUS´NDSZBNBIBU²©DBNÄN]
5X4%@¸«OCOT`D:SUHYXD:W(LS@
Â
WZĺI©ESVQBEBQVUSF´BUBWB°J¹ZF´BEI²NBU]]]]
`Y4Q@LGDU@R@Ã(L@IT1MRL@XTHW
BUSB°ÄSNBIF¹WTCI²NSKVOBTBNZVEIJ]
XTXTW@M@DHUQ@Po¸«OCoLG@QV
Â
ZVZVEIOPWJS¾B°DBESVQBEB°DBNBISBUIBÁ]]]]
WuJDSToDHJS@MJ@HYQ@IoU(X1U@MÆ
EI®¹¾BLFUV°DFLJUOBÁL°JSKB°DBW²SZBWO]
OTkHI3JH-SÃ@DIoY$!XoMQOTFU
Â
QVSVKJULVOUJCIPKB°DB°BJCZB°DBOBSBQVµHBWBÁ]]]]
#IBHBWBE(²UPage 3 of 179
XTW@L-XToHUÖ@-S^L@$I@oU(X1U@MÆ
ZVEINBOZV°DBWJLSOUBVUUBNBVK°DBW²SZBWO]
R@$ø@D¸@$OCDX@oRU1ULG@QV@
Â
TBVCIBESPESBVQBEFZ°DBTBSWBFWBNBISBUIÁ]]]]
2L@JSTHUHYu@XDS@HºA@DWHbI@D^L
BTNLB©UVWJ°J¹¾ZFUOOJCPEIBEWJKPUUBNB]
M@XJ@LLR$-X2XR\@VS@-gU(HLSD
Â
OZBLNBNBTBJOZBTZBTB¸K¸SUIB©UOCSBW²NJUF]]]]
ÃU@-Ã(LoJ:1oJOoRHLHSX
CIBWOCI²¹NB°DBLBS´B°DBL®QB°DBTBNJUJ¸KBZBÁ]
s3V@L@HUJ:1oR@$LCH^2SV$UB
Â
B°WBUUINWJLBS´B°DBTBVNBEBUUJTUBUIBJWBDB]]]]
-XDBAGUY4Q@LCVD13XÄI(HUS@
BOZFDBCBIBWBÁ°ÄSNBEBSUIFUZBLUBK²WJUÁ]
M@M@YveGQ:@RUD1XTµHUY@QC@
Â
OO°BTUSBQSBIBSB´ÁTBSWFZVEEIBWJ°SBEÁ]]]]
OX@1ÏSC2L@JAKÃ(L@HÃQH<SLÆ
BQBSZQUB©UBEBTNLB©CBMB©CI²¹NCIJSBL¹JUBN]
OX@1ÏH3UCLDSD@AKÃ(L@HÃQH<SLÆ
Â
QBSZQUB©UWJEBNFUF¹©CBMB©CI²NCIJSBL¹JUBN]]]]
#IBHBWBE(²UPage 4 of 179
XMDTBRUD1TXV@Ã@FLUH2VS@
BZBOF¹VDBTBSWF¹VZBUICIHBNBWBTUIJUÁ]
Ã(LLDU@HÃQ<-STÃU-SRU1UHG
Â
CI²¹NBNFWCIJSBL¹BOUVCIBWBOUBÁTBSWBFWBIJ]]]]
S2XRMX-GJkUµHOS@LG
UBTZBTB¸KBOBZBOIBS¹B©LVSVW®EEIBÁQJUNBIBÁ]
HRGM@CHUM
@D×$YC7L@$eS@OU@MÆ
Â
TJ©IBOEB©WJOBEZPDDBJÁ°BµLIB©EBEINBVQSBUQBWO]]]]
SSY@oÃDX1oO:U@MJF@DLTN@
UBUBÁ°BµLI°DBCIFSZB°DBQB´BWOBLBHPNVLIÁ]
RGR$U@>XG-X-SRY!C2STLTK@DÃUSÆ
Â
TBIBTBJWCIZBIBOZBOUBTB°BCEBTUVNVMPCIBWBU]]]]
SSsDS$G1X$XT1ÄDLGHS2X-CMDH2VS@$
UBUBÁ°WFUBJSIBZBJSZVLUFNBIBUJTZBOEBOFTUIJUBV]
L@WUO@ZEUo$UHC5X@$Y@$eC7LST
Â
NEIBWBÁQ´ºBWB°DBJWBEJWZBV°BµLIBVQSBEBEINBUVÁ]]]]
O@®I-Xz(JDY@DCDUC^WMX
Q¸DBKBOZB©I®¹²LF°PEFWBEBUUB©EIBOB¸KBZBÁ]
M-SHUIXQ@I@J-S(OT`@DXTHWHtQ
BOBOUBWJKBZB©SKLVOU²QVUSPZVEIJ¹¾IJSBÁ]
MJKRGCDUoRTÇ@DLH:OTOJ@$
Â
OBLVMBÁTBIBEFWB°DBTVHIP¹BNB´JQV¹QBLBV]]]]
J@9XoOQLDU@RHYNZE(BLG@QV
L°ZB°DBQBSBNF¹WTBÁ°JLIB´º²DBNBISBUIBÁ]
Wu
Tj@DHUQ@PoR@3XHJo@OQ@HIS
Â
EI®¹¾BEZVNOPWJS¾B°DBTUZBLJ°DQBSKJUBÁ]]]]
¸«OC@D¸@$OCDX@oRU1YOHVU(OSD
ESVQBEPESBVQBEFZ°DBTBSWB°BÁQ®UIJW²QBUF]
R@$øoLG@A@¤Y@-C7LTOV*OVJ
Â
TBVCIBESB°DBNBICIVÁ°BµLIOEBEINVÁQ®UIBLQ®UIBL]]]]
RÇ@D@DW@S1Q@u@:@zCX@HM5XC@QXSÆ
TBHIP¹PEISUBS¹¾S´©I®EBZOJWZBESBZBU]
V5XUH2VS@-}PU@W@S1Q@u@MÆJHO7UI
BUIBWZBWBTUIJUOE®¹¾WEISUBS¹¾SOLBQJEIWBKBÁ]
eU^DYvR,O@SDWMTk
,XO@ZEU
Â
QSBW®UUF°BTUSBTBNQUFEIBOVSVEZBNZBQ´ºBWBÁ]]]]
#IBHBWBE(²UPage 6 of 179
z(JDYSC@U@*XHLCL@GLG(OSD
I®¹²LF°B©UBEWLZBNJEBNIBNBI²QBUF]
IT1MU@B
BSKVOBVWDB]
RDMX@DkÃX@DL17XDQV2V@OXLD"XTS
Â
TFOBZPSVCIBZPSNBEIZFSBUIB©TUIQBZBNFDZVUB]]]]
X@UCDS@HºHQ<DGX@Dµ«J@L@MUH2VS@MÆ
ZWBEFUOOJSJL¹FIB©ZPEEIVLNOBWBTUIJUO]
J$L1X@RGX@Dµ5XLH2LMÆQ:RLT
LD
Â
LBJSNBZTBIBZPEEIBWZBNBTNJOSB´BTBNVEZBNF]]]]
X@D32XL@M@MUD<DGXSD`RL@FS@
ZPUTZBNOOBWFL¹FIB©ZBFUFUSBTBNHBUÁ]
RXU@B
TB¸KBZBVWDB]
ULTÄ@Dz(JDY@DFTE@JDYDMÃ@QS
FWBNVLUPI®¹²LF°PHVºLF°FOBCISBUB]
RDMX@DkÃX@DL17XD2V@OHX3U@QV@D^LLÆ
Â
TFOBZPSVCIBZPSNBEIZFTUIQBZJUWSBUIPUUBNBN]]]]
#IBHBWBE(²UPage 7 of 179
Ã(L¸@D:eLTNSRUD1@BLG(H<S@LÆ
CI²¹NBESP´BQSBNVLIBUBÁTBSWF¹©DBNBI²L¹JUN]
U@BO@V1O9X$S@-RLUDS@-JmHMHS
Â
VWDBQSUIBQB°ZBJUOTBNBWFUOLVSÄOJUJ]]]]
S`@O9XH32VS@-O@V1HOSMVHOS@LG@MÆ
UBUSQB°ZBUTUIJUOQSUIBÁQJU±OBUIBQJUNBIO]
@B@X@1-L@STK@-@S-OT`@-O@$`@-RN(2SV@
Â
DSZONUVMOCISU®OQVUSOQBVUSOTBLI²©TUBUI]]]]
sYTQ@-RTzCo$URDMX@DkÃX@DQHO
°WB°VSOTVI®EB°DBJWBTFOBZPSVCIBZPSBQJ]
S@-RL(yXRJ@$-SDXRU@1-A-W4MUH2VS@MÆ
Â
UOTBN²L¹ZBTBLBVOUFZBÁTBSWOCBOEIÄOBWBTUIJUO]]]]
JOX@OQX@HUu@DHU(CHºCLgU(SÆ
L®QBZQBSBZWJ¹¾PWJ¹²EBOOJEBNBCSBW²U]
IT1MU@B
BSKVOBVWDB]
}PUDL2UIMJ:XTXT3RTRLTOH2VSLÆ
Â
E®¹¾WFNB©TWBKBOB©L®¹´BZVZVUTV©TBNVQBTUIJUBN]]]]
#IBHBWBE(²UPage 8 of 179
R(CH-SLLF@`@H:LTNBOHQYTXHS
T²EBOUJNBNBHUS´JNVLIB©DBQBSJ°V¹ZBUJ]
UDOVToYQ(QDLDQ@DLG1oI@XSD
Â
WFQBUIV°DB°BS²SFNFSPNBIBS¹B°DBKZBUF]]]]
F@ZE(UwRSDG2S@_U¨$UOHQCÐSD
H´º²WB©TSB©TBUFIBTUUUWBLDBJWBQBSJEBIZBUF]
MBYÕ@D,XU2V@STLS(UBLDLM
Â
OBDB°BLOPNZBWBTUIUV©CISBNBU²WBDBNFNBOBÁ]]]]
HMHL^@HMBO9X@HLHUOQ(S@HMJDYU
OJNJUUOJDBQB°ZNJWJQBS²UOJLF°BWB]
MBrDX@DMTO9X@HLG3U@2UIML@GUD
Â
OBDB°SFZPOVQB°ZNJIBUWTWBKBOBNIBWF]]]]
MJ@<DHUIXJ:MBQ@)XRTN@HMB
OBLµL¹FWJKBZB©L®¹´BOBDBSKZB©TVLIOJDB]
HJM@DQ@)XDMF@DHU-CHJÃ@DF$I(1HUSDMU@
Â
LJ©OPSKZFOBHPWJOEBLJ©CIPHBJSK²WJUFOBW]]]]
XD@LVD1J@H<SM@DQ@)XÃ@DF@RTN@HMB
ZF¹NBSUIFLµL¹JUB©OPSKZB©CIPHÁTVLIOJDB]
SÅLDUH2VS@XTµDe@:@23X
U@WM@HMB
Â
UBJNFWBTUIJUZVEEIFQS´©TUZBLUWEIBOOJDB]]]]
#IBHBWBE(²UPage 9 of 179
@B@X@1HOSQOT`@2SV$UBHOS@LG@
DSZÁQJUBSBÁQVUSTUBUIBJWBDBQJUNBIÁ]
L@STK@sYTQ@O@$`@9X@K@R,AH-WM2SV@
Â
NUVMÁ°WB°VSÁQBVUSÁ°ZMÁTBNCBOEIJOBTUBUI]]]]
S@ºG-STHL"#@HLÔS@DHOLWTR4CM
FUOOBIBOUVNJDDINJHIOBUPQJNBEIVTÄEBOB]
HO`$K@D*XQ@)X2XGDS@DHJMTLG(JSD
Â
BQJUSBJMPLZBSKZBTZBIFUPÁLJ©OVNBI²L®UF]]]]
HMG3XW@S1Q@u@ºJ@e(HS2X@ÙM@C1M
OJIBUZBEISUBS¹¾SOOBÁLQS²UJÁTZKKBOSEBOB]
O@OLDU@rXDC2L@-G3U$S@M@SS@HXM
Â
QQBNFW°SBZFEBTNOIBUWBJUOUBUZJOBÁ]]]]
S2L@º@G@1UXG-STW@S1Q@u@-2UA@-WU@MÆ
UBTNOOSIWBZB©IBOUV©EISUBS¹¾SOTWBCOEIBWO]
2UIMHGJVG3U@RTHNM2X@LL@WU
Â
TWBKBOB©IJLBUIB©IBUWTVLIJOBÁTZNBNEIBWB]]]]
X
/XDSDMO9XH-SK@DÃ@DOGSBDSR
ZBEZBQZFUFOBQB°ZBOUJMPCIPQBIBUBDFUBTBÁ]
JK<XJSC@DHL`¸@DGDBO@SJLÆ
Â
LVMBL¹BZBL®UB©EP¹B©NJUSBESPIFDBQUBLBN]]]]
#IBHBWBE(²UPage 10 of 179
JVM\DXL2L@HÃO@O@C2L@HºUHS1STLÆ
LBUIB©OBK¸FZBNBTNCIJÁQQEBTNOOJWBSUJUVN]
JK<XJSC@DeO9XHaI1M@C1M
Â
LVMBL¹BZBL®UB©EP¹B©QSBQB°ZBECIJSKBOSEBOB]]]]
JK<XDe:9XH-SJKWL@1RM@SM@
LVMBL¹BZFQSB´B°ZBOUJLVMBEIBSNÁTBOUBOÁ]
WLD1MuDJKJ3xLWL@D1HÃÃU3XTS
Â
EIBSNFOB¹¾FLVMB©L®UTOBNBEIBSNPCIJCIBWBUZVUB]]]]
WL@1HÃÃU@3J:e¯XH-SJKHvX
BEIBSNCIJCIBWUL®¹´BQSBEV¹ZBOUJLVMBTUSJZBÁ]
v(T¯u@RTU@:D1XI@XSDU:1RQ
Â
TUS²¹VEV¹¾TVWS¹´FZBKZBUFWBS´BTBµLBSBÁ]]]]
RQ@DMQJ@X$UJKÔ@M@JK2XB
TBµLBSPOBSBLZBJWBLVMBHIOO©LVMBTZBDB]
OSH-SHOSQ@DÐD@KTÏHOZE@DCJHÖX@
Â
QBUBOUJQJUBSPIZF¹©MVQUBQJ´ºPEBLBLSJZÁ]]]]
C@D$QDS$JKÔ@M@U:1RQJ@QJ$
EP¹BJSFUBJÁLVMBHIOO©WBS´BTBµLBSBLSBLBJÁ]
3R@
-SDI@HSWL@1JKWL@1oY@sS@
Â
VUTEZBOUFKUJEIBSNÁLVMBEIBSN°DB°°WBUÁ]]]]
#IBHBWBE(²UPage 11 of 179
3RºJKWL@1:@LMTX@:@IM@C1M
VUTBOOBLVMBEIBSN´©NBOV¹Z´©KBOSEBOB]
G@DASLG3O@OJST5XUHRS@UXLÆ
BIPCBUBNBIBUQQB©LBSUV©WZBWBTJUWBZBN]
X¸@)XRTNK@DÃDMG-ST2UIMLT
S@
Â
ZBESKZBTVLIBMPCIFOBIBOUV©TWBKBOBNVEZBUÁ]]]]
XHCL@LeS(J@QLYvYvO@:X
ZBEJNNBQSBU²LSBNB°BTUSB©°BTUSBQ´BZBÁ]
RXU@B
TB¸KBZBVWDB]
ULT
U@IT1MR.XDQV@DO2VO@HUYSÆ
FWBNVLUWSKVOBÁTBµLIZFSBUIPQBTUIBVQWJ°BU]
HUR)XRYQB@OY@DJRHUL@MR
Â
WJT®KZBTB°BSB©DQB©°PLBTB©WJHOBNOBTBÁ]]]]
#IBHBWBE(²UPage 12 of 179
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
IT1MHU@CX@DF@DM@LeVL@D7X@X
BSKVOBWJ¹EBZPHPONBQSBUIBNPEIZZBÁ]]]]
#IBHBWBE(²UPage 13 of 179
VHbS(X@D7X@X
BUIBEWJU²ZPEIZZBÁ
RXU@B
TB¸KBZBVWDB]
SSV@JOX@HUuLrTO4:@1JKD<:LÆ
UB©UBUIL®QBZWJ¹¾BNB°SVQÄS´LVMFL¹B´BN]
HU(C-SHLCU@*XLTU@BLWTR4CM
Â
WJ¹²EBOUBNJEB©WLZBNVWDBNBEIVTÄEBOBÁ]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
JS23U@J9LKHLCHULDRLTOH2VSLÆ
LVUBTUWLB°NBMBNJEB©WJ¹BNFTBNVQBTUIJUBN]
M@X1ITuL2U&X1LJ(HS1JQLIT1M
Â
BOSZBKV¹¾BNBTWBSHZBNBL²SUJLBSBNBSKVOB]]]]
$!XL@2LFLO@V1M$S_U8XTOO
SD
LMBJCZB©NTNBHBNBÁQSUIBOBJUBUUWBZZVQBQBEZBUF]
<T¸zCXC@$A1+X3X
U@DH^tOQ-SO
Â
L¹VESB©I®EBZBEBVSCBMZB©UZBLUWPUUJ¹¾IBQBSBOUBQB]]]]
#IBHBWBE(²UPage 14 of 179
IT1MU@B
BSKVOBVWDB]
JVÃ(LLGR.XD¸@D:BLWTR4CM
LBUIB©CI²¹NBNBIB©TBµLIZFESP´B©DBNBEIVTÄEBOB]
ÅTHÃeHSX@D32X@HLO4I@G@1UHQR4CM
Â
J¹VCIJÁQSBUJZPUTZNJQÄKSIWBSJTÄEBOB]]]]
FTmMG3U@HGLG@MTÃ@U@MÆ
HVSÄOBIBUWIJNBIOVCIWO
rDX@DÃ@DÄÃ$yXLO(GK@DJD
°SFZPCIPLUV©CIBJL¹ZBNBQ²IBMPLF]
G3U@V1J@L@2STFTmHMG$U
IBUWSUIBLN©TUVHVSÄOJIBJWB
ÃT(XÃ@DF@MÆkHWQeHC&W@MÆ
Â
CIV¸K²ZBCIPHOSVEIJSBQSBEJHEIO]]]]
MB$SHb¹JSQº@DFQ(X@D
OBDBJUBEWJENBÁLBUBSBOOPHBS²ZP
Xb@IXDLXHCU@M@DIXDXT
ZBEWKBZFNBZBEJWOPKBZFZVÁ]
#IBHBWBE(²UPage 15 of 179
X@MDUG3U@MHII(HU@L
ZOFWBIBUWOBKJK²WJ¹NBÁ
SDUH2VS@eLTNDW@S1Q@u@
Â
UFWBTUIJUÁQSBNVLIFEISUBS¹¾SÁ]]]]
J@O1ZXC@D@DOGS2UÃ@U
LSQB´ZBEP¹PQBIBUBTWBCIWBÁ
O"#@HL3U@WL1R,L4%BDS@
Q®DDINJUW©EIBSNBTBNNĺIBDFUÁ]
X"DX2X@HºHoSg4HGS-LD
ZBDDISFZBÁTZOOJ°DJUB©CSÄIJUBONF
HYX2SDGY@HWL@3U@eOºLÆ
Â
°J¹ZBTUFIB©°EIJN©UW©QSBQBOOBN]]]]
MHGeO9X@HLLL@OMT
@C
OBIJQSBQB°ZNJNBNQBOVEZE
X"#@DJLT"#@D:HLH-¸X@:@LÆ
ZBDDIPLBNVDDIP¹B´BNJOESJZ´N]
U@/XÃ4L@UROLµ
BWQZBCIÄNWBTBQBUOBN®EEIB©
Q@)XRTQ@:@LHOB@HWO3XLÆ
Â
SKZB©TVS´NBQJDEIJQBUZBN]]]]
#IBHBWBE(²UPage 16 of 179
RXU@B
TB¸KBZBVWDB]
ULT
U@z(JDYFTE@JDYOQ-SO
FWBNVLUWI®¹²LF°B©HVºLF°BÁQBSBOUBQBÁ]
MX@D32XÅHSF@DHU-CLT
U@S4:(AÃ4UG
Â
OBZPUTZBJUJHPWJOEBNVLUWUĹ´²©CBCIÄWBIB]]]]
SLTU@Bz(JDYeGRHºUÃ@QS
UBNVWDBI®¹²LF°BÁQSBIBTBOOJWBCISBUB]
RDMX@DkÃX@DL17XDHU(C-SHLCUB
Â
TFOBZPSVCIBZPSNBEIZFWJ¹²EBOUBNJEB©WBDBÁ]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
Y@D"X@M-UY@DB23Ue\@U@C@oÃ@RD
B°PDZOBOWB°PDBTUWB©QSBK¸WE©°DBCI¹BTF]
FS@R4MFS@R4oM@MTY@DBH-SOHZES@
Â
HBUTÄOBHBUTÄ©°DBOOV°PDBOUJQB´ºJUÁ]]]]
M3UDU@GI@STM@RM3UMDLDIM@HWO@
OBUWFWIB©KUVOTB©OBUWB©OFNFKBOEIJQÁ]
MB$UMÃHUX@LRUD1UXLSOQLÆ
Â
OBDBJWBOBCIBWJ¹ZNBÁTBSWFWBZBNBUBÁQBSBN]]]]
#IBHBWBE(²UPage 17 of 179
CDHGM@DH2L-XV@CDGDJ@$L@QX@$UMIQ@
EFIJOPTNJOZBUIEFIFLBVNSB©ZBVWBOB©KBS]
SV@CDG@-SQe@HÏW(1Q2S`MLTÐHS
Â
UBUIEFIOUBSBQSQUJSEI²SBTUBUSBOBNVIZBUJ]]]]
L@`@2OY@12STJ@$-SDXY(S@D:RTN¯NC@
NUSTQBS°TUVLBVOUFZB°²UP¹´BTVLIBEVÁLIBEÁ]
@FL@O@HXM@DHM3X@2S@H2SHS<2UÃ@QS
Â
HBNQZJOPOJUZTU©TUJUJL¹BTWBCISBUB]]]]
XHGM5XVX-3XDSDOTkOTk1Ã
ZB©IJOBWZBUIBZBOUZFUFQVSV¹B©QVSV¹BS¹BCIB]
RL¯NRTNW(QR@DLS3U@XJ+OSD
Â
TBNBEVÁLIBTVLIB©EI²SB©TPN®UBUWZBLBMQBUF]]]]
M@RS@DHU
SDÃ@U@DM@Ã@U@DHU
SDRS
OTBUPWJEZBUFCIWPOCIWPWJEZBUFTBUBÁ]
ÃX@DQHO}u@D-S23UMX@D2S_UCHY1HÃ
Â
VCIBZPSBQJE®¹¾POUBTUWBOBZPTUBUUWBEBS°JCIJÁ]]]]
HUM@HYSTSHbHµXDMRU1HLCSSLÆ
BWJO°JUVUBEWJEEIJZFOBTBSWBNJEB©UBUBN]
HUM@YL5XX2X@2XMJHo3JST1LG1HS
Â
WJO°BNBWZBZBTZTZBOBLB°DJULBSUVNBSIBUJ]]]]
#IBHBWBE(²UPage 18 of 179
-SU-SÅLDCDG@HM3X2X@DÄ@YQ(HQ:
BOUBWBOUBJNFEFIOJUZBTZPLUÁ°BS²SJ´BÁ]
M@HYM@DeLDX2XS2L@
T7X2UÃ@QS
Â
BO°JOPQSBNFZBTZBUBTNEZVEIZBTWBCISBUB]]]]
XMUDH^G-S@QXo$ML-XSDGSLÆ
ZBFOB©WFUUJIBOUSB©ZB°DBJOB©NBOZBUFIBUBN
Ã@$S@$MHUI@M(S@DM@XGH-SMG-XSD
Â
VCIBVUBVOBWJKO²UPOZB©IBOUJOBIBOZBUF]]]]
MI@XSDHlXSDU@JC@HBMÆ
OBKZBUFNSJZBUFWLBEDJO
M@XÃ43U@ÃHUS@U@MÃ4X
OZB©CIÄUWCIBWJUWOBCIÄZBÁ]
I@DHM3XY@sS@DXOTQ@:@D
BKPOJUZBÁ°°WBUPZB©QVS´P
MG-XSDG-XL@MDYQ(QD
Â
OBIBOZBUFIBOZBNOF°BS²SF]]]]
UDC@HUM@HYMHM3XXMLIL5XXLÆ
WFEWJO°JOB©OJUZB©ZBFOBNBKBNBWZBZBN]
JVROTkO@V1JÇ@SXHSGH-SJLÆ
Â
LBUIB©TBQVSV¹BÁQSUIBLB©HIUBZBUJIBOUJLBN]]]]
#IBHBWBE(²UPage 19 of 179
U@R@HRI(:@1HMXV@HUG@X
WT©TJK²S´OJZBUIWJIZB
MU@HMF¦@HSMQ@DOQ@H:
OBWOJH®I´UJOBSPQBS´J]
SV@YQ(Q@H:HUG@XI(:@1Â
UBUI°BS²S´JWJIZBK²S´
-X-X@HMRX@HSMU@HMCDG(
Â
OZBOZOJTB©ZUJOBWOJEFI²]]]]
M$MH#-CH-SYv@H:M$MCGHSO@UJ
OBJOB©DIJOEBOUJ°BTUS´JOBJOB©EBIBUJQWBLBÁ]
MB$MDCX-3X@O@DMY@DXHSL@kS
Â
OBDBJOB©LMFEBZBOUZQPOB°P¹BZBUJNSVUBÁ]]]]
"#D
@DXLC@Ð@DXLD
@DY@DXUB
BDDIFEZPZBNBEIZPZBNBLMFEZP°P¹ZBFWBDB]
HM3XRU1FS2V@:TQBK@DXRM@SM
Â
OJUZBÁTBSWBHBUBÁTUI´VSBDBMPZB©TBOUBOBÁ]]]]
5XÄ@DXLHB-3X@DXLHUJ@X@D1XLT"XSD
BWZBLUPZBNBDJOUZPZBNBWJLSZPZBNVDZBUF]
S2L@CDUHUHC3U$MM@MTY@DHBSTLG1HR
Â
UBTNEFWB©WJEJUWBJOB©OOV°PDJUVNBSIBTJ]]]]
#IBHBWBE(²UPage 20 of 179
VB$MHM3XI@SHM3XU@L-XRDLSLÆ
BUIBDBJOB©OJUZBKUB©OJUZB©WNBOZBTFN®UBN]
SV@HO3ULG@A@G@DM$UY@DHBSTLG1HR
Â
UBUIQJUWB©NBICIPOBJWB©°PDJUVNBSIBTJ]]]]
I@S2XHGTU@DL3XTT1UI-LLS2XB
KUBTZBIJEISVWPN®UZVSEISVWB©KBONBN®UBTZBDB]
S2L@COHQG@XD1VD1M3UY@DHBSTLG1HR
Â
UBTNEBQBSJISZFSUIFOBUWB©°PDJUVNBSIBTJ]]]]
5XÄ@C(HMÃ4S@HM5XÄL7X@HMÃ@QS
BWZBLUE²OJCIÄUOJWZBLUBNBEIZOJCISBUB]
5XÄHMWM@-XDUS`J@OHQCDUM@
Â
BWZBLUBOJEIBOOZFWBUBUSBLQBSJEFWBO]]]]
@oX1U3O9XHSJHoCDMLÆ
°DBSZBWBUQB°ZBUJLB°DJEFOBN
@oX1UbCHSSV$UB@-X
°DBSZBWBEWBEBUJUBUIBJWBDOZBÁ]
@oX1U×$ML-XY:@DHS
°DBSZBWBDDBJOBNBOZBÁ°®´PUJ
rT3U@/XDMUDCMB$UJHoSÆ
Â
°SVUWQZFOB©WFEBOBDBJWBLB°DJU]]]]
#IBHBWBE(²UPage 21 of 179
CDG(HM3XLU7X@DXCDGDRU12XÃ@QS
EFI²OJUZBNBWBEIZPZB©EFIFTBSWBTZBCISBUB]
S2L@3RU@1H:Ã4S@HMM3UY@DHBSTLG1HR
Â
UBTNUTBSW´JCIÄUOJOBUWB©°PDJUVNBSIBTJ]]]]
2UWL1LHOB@UDyXMHUJH,OSTLG1HR
TWBEIBSNBNBQJDWFL¹ZBOBWJLBNQJUVNBSIBTJ]
W,X@1HµXTµ@"DX@D-X3<H`X2XMHU
SD
Â
EIBSNZEEIJZVEEIDDISFZPOZBUL¹BUSJZBTZBOBWJEZBUF]]]]
X}"#X@B@DOOº2UF1b@QLO@USLÆ
ZBE®DDIBZDPQBQBOOB©TWBSHBEWSBNBQW®UBN]
RTHNM<H`X@O@V1KÃ-SDXTµL(}YLÆ
Â
TVLIJOBÁL¹BUSJZÁQSUIBMBCIBOUFZVEEIBN²E®°BN]]]]
VBD_UHLLW,XR@LMJHQXHR
BUIBDFUUWBNJNB©EIBSNZB©TBµHSNB©OBLBSJ¹ZBTJ]
SS2UWLJ(HSBHG3U@O@OLU@/2XHR
Â
UBUBÁTWBEIBSNB©L²SUJ©DBIJUWQQBNBWQTZBTJ]]]]
J(HSB@HOÃ4S@HMJVHXXH-SSD5XX@LÆ
BL²SUJ©DQJCIÄUOJLBUIBZJ¹ZBOUJUFWZBZN]
R,Ã@HUS2XB@J(HS1L1Q:@CHSHQ"XSD
Â
TBNCIWJUBTZBDL²SUJSNBSB´EBUJSJDZBUF]]]]
#IBHBWBE(²UPage 22 of 179
ÃX@¸:@¯OQSL2X-SD3U@LG@QV@
CIBZESB´EVQBSBUB©NB©TZBOUFUW©NBISBUIÁ]
XD@B3UA¤LS@DÃ43U@X@2XHRK@ÇULÆ
Â
ZF¹©DBUWB©CBIVNBUPCIÄUWZTZBTJMHIBWBN]]]]
U@"XU@C@oA-UHCXH-SSU@HGS@
BWDZBWE©°DBCBIÄOWBEJ¹ZBOUJUBWIJUÁ]
HM-C-S2SUR@L6XSS@D¯NSQMTHJLÆ
Â
OJOEBOUBTUBWBTNBSUIZB©UBUPEVÁLIBUBSB©OVLJN]]]]
GS@DU@e@/2XHR2UFHI3U@U@Ã@DyXRDLG(LÆ
IBUPWQSQTZBTJTWBSHB©KJUWWCIPL¹ZBTFNBI²N]
S2L@¯H^tJ@$-SDXXTµ@XJSHMoX
Â
UBTNEVUUJ¹¾IBLBVOUFZBZVEEIZBL®UBOJ°DBZBÁ]]]]
RTN¯NDRLDJ3U@K@Ã@K@Ã@$IX@IX@$
TVLIBEVÁLIFTBNFL®UWMCIMCIBVKBZKBZBV]
SS@DXTµ@XXT)X2UM$UO@OLU@/2XHR
Â
UBUPZVEEIZBZVKZBTWBOBJWB©QQBNBWQTZBTJ]]]]
@SDHÃHGS@R@.XDATHµX@D1FDH3UL@Y:T
F¹UFCIJIJUTµLIZFCVEEIJSZPHFUWJN©°®´V]
ATµ@XTÄ@DXX@O@V1JL1A-WeG@2XHR
Â
CVEEIZZVLUPZBZQSUIBLBSNBCBOEIB©QSBITZBTJ]]]]
#IBHBWBE(²UPage 23 of 179
MDG@HÃÖLM@Y@DH2Se3XU@X@DMHU
SD
OFICIJLSBNBO°PTUJQSBUZBWZPOBWJEZBUF]
2U+OL/X2XWL12X`@XSDLGS@DÃX@SÆ
Â
TWBMQBNBQZBTZBEIBSNBTZBUSZBUFNBIBUPCIBZU]]]]
5XUR@X@H3LJ@ATHµQDJDGJkM-CM
WZBWBTZUNJLCVEEIJSFLFIBLVSVOBOEBOB]
A¤Y@N@ÐM-S@oATµX@D5XUR@HXM@LÆ
Â
CBIV°LIIZBOBOU°DBCVEEIBZPWZBWBTZJON]]]]
X@HLL@OTHOS@U@BeUC-3XHUOHoS
ZNJN©QV¹QJU©WDB©QSBWBEBOUZBWJQB°DJUBÁ]
UDCU@CQS@O@V1M@-XC2S(HSU@HCM
Â
WFEBWEBSBUÁQSUIBOOZBEBTU²UJWEJOBÁ]]]]
J@L@3L@M2UF1OQ@I-LJL1 KeC@LÆ
LNUNOBÁTWBSHBQBSKBONBLBSNBQIBMBQSBEN]
HÖX@HUYDA¤K@Ã@DF$sX1FHSeHS
Â
LSJZWJ°F¹BCBIVM©CIPHBJ°WBSZBHBUJ©QSBUJ]]]]
Ã@DF$sX1eRÄ@M@SX@OzSBDSR@LÆ
CIPHBJ°WBSZBQSBTBLUO©UBZQBI®UBDFUBTN]
5XUR@X@H3LJ@ATHµRL@W@$MHUW(XSD
Â
WZBWBTZUNJLCVEEIJÁTBNEIBVOBWJEI²ZBUF]]]]
#IBHBWBE(²UPage 24 of 179
`$FTZXHUX@UDC@HMv$FTZX@DÃU@IT1M
USBJHV´ZBWJ¹BZWFEOJTUSBJHV´ZPCIBWSKVOB]
X@U@MV1CO@MDRU1SR,/KTS@DCJD
ZWOBSUIBVEBQOFTBSWBUBÁTBNQMVUPEBLF]
S@U@-RUD1TUDCDTg@|:2XHUI@MS
Â
UWOTBSWF¹VWFEF¹VCSINB´BTZBWJKOBUBÁ]]]]
JL1ZXDU@HWJ@Q2SDL@ KDTJC@BM
LBSNB´ZFWEIJLSBTUFNQIBMF¹VLBEDBOB]
X@DF2VJkJL@1H:RØ3X
U@WMX
ZPHBTUIBÁLVSVLBSN´JTBµHB©UZBLUWEIBOB¸KBZB]
HRµHRµ@DRL@DÃ43U@RL3UX@DF"XSD
Â
TJEEIZBTJEEIZPÁTBNPCIÄUWTBNBUWB©ZPHBVDZBUF]]]]
±QD:ÐUQJL1ATHµX@DF@µMX
EÄSF´BIZBWBSB©LBSNBCVEEIJZPHEEIBOB¸KBZB]
ATHµXTÄ@DIG@S(GÃDRTJS¯JSD
CVEEIJZVLUPKBIU²IBVCIFTVL®UBEV¹L®UF]
S2L@
@DF@XXT)X2UX@DFJL1RTJ@$YKLÆ
Â
UBTNEZPHZBZVKZBTWBZPHBÁLBSNBTVLBV°BMBN]]]]
JL1IATHµXTÄ@HG K3X
U@LM(H:
LBSNBKB©CVEEIJZVLUIJQIBMB©UZBLUWNBO²¹J´BÁ]
I-LA-WHUHMLT1Ä@OCF"#-3XM@LXLÆ
Â
KBONBCBOEIBWJOJSNVLUÁQBEB©HBDDIBOUZBONBZBN]]]]
XC@SDL@DGJHKKATHµ5X1HSSHQXHS
ZBEUFNPIBLBMJMB©CVEEIJSWZBUJUBSJ¹ZBUJ]
SC@F-S@HRHMUD1Cr@DS5X2XrTS2XB
Â
UBEHBOUTJOJSWFEB©°SPUBWZBTZB°SVUBTZBDB]]]]
rTHSHUeHSOº@SDXC@2V@2XHSHMoK@
°SVUJWJQSBUJQBOOUFZBETUITZBUJOJ°DBM]
RL@W@UBK@ATHµ2SC@X@DFLU@/2XHR
Â
TBNEIWBDBMCVEEIJTUBEZPHBNBWQTZBTJ]]]]
#IBHBWBE(²UPage 26 of 179
IT1MU@B
BSKVOBVWDB]
H2VSe\2XJ@Ã@@RL@HW2V2XJDYU
TUIJUBQSBK¸BTZBLCI¹TBNEIJTUIBTZBLF°BWB]
H2VSW(HJeÃ@DSHJL@R(SpIDSHJLÆ
Â
TUIJUBEI²ÁLJ©QSBCI¹FUBLJNT²UBWSBKFUBLJN]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
eIG@HSXC@J@L@-RU@1-O@V1LM@DFS@MÆ
QSBKBIUJZBELNOTBSWOQSUIBNBOPHBUO]
@3L-XDU@3LM@STuH2VSe\2SC@D"XSD
Â
UNBOZFWUNBOUV¹¾BÁTUIJUBQSBK¸BTUBEPDZBUF]]]]
¯NDUMTHbLM@RTNDTHUFS2OG
EVÁLIF¹WBOVEWJHOBNBOÁTVLIF¹VWJHBUBTQ®IBÁ]
U(SQ@FÃXÖ@DWH2VSW(LT1HMk"XSD
Â
W²UBSHBCIBZBLSPEIBÁTUIJUBEI²SNVOJSVDZBUF]]]]
XRU1`@MHÃxDG2S^3e@/XYTÃ@YTÃLÆ
ZBÁTBSWBUSOBCIJTOFIBTUBUUBUQSQZB°VCI°VCIBN]
M@HÃM-CHSMbDHuS2Xe\@eHSHtS@
Â
OCIJOBOEBUJOBEWF¹¾JUBTZBQSBK¸QSBUJ¹¾IJU]]]]
#IBHBWBE(²UPage 27 of 179
XC@RGQSDB@XJL@D1Ø@M(URU1Y
ZBETB©IBSBUFDZB©LÄSNPµHO²WBTBSWB°BÁ]
ÅH-¸X@:(H-¸X@VD1>X2S2Xe\@eHSHtS@
Â
JOESJZ´²OESJZSUIFCIZBTUBTZBQSBK¸QSBUJ¹¾IJU]]]]
HUX@HUHMUS1-SDHMQ@G@Q2XCDHGM
WJ¹BZWJOJWBSUBOUFOJSISBTZBEFIJOBÁ]
QRUIQR@D/X2XOQ}PU@HMUS1SD
Â
SBTBWBSKB©SBTPQZBTZBQBSB©E®¹¾WOJWBSUBUF]]]]
XSS@DÐHOJ@$-SDXOTk2XHUOHoS
ZBUBUPIZBQJLBVOUFZBQVSV¹BTZBWJQB°DJUBÁ]
ÅH-¸X@H:eL@V(HMGQH-SeRÃLM
Â
JOESJZ´JQSBNUI²OJIBSBOUJQSBTBCIB©NBOBÁ]]]]
S@HMRU@1H:RX,XXTÄ @R(SL3OQ
UOJTBSW´JTB©ZBNZBZVLUBT²UBNBUQBSBÁ]
UYDHGX2XDH-¸X@H:S2Xe\@eHSHtS@
Â
WB°FIJZBTZFOESJZ´JUBTZBQSBK¸QSBUJ¹¾IJU]]]]
7X@XS@DHUX@-OTRRØ2SD4OI@XSD
EIZZBUPWJ¹BZOQV©TBÁTBµHBTUF¹ÄQBKZBUF]
RØ@3R@XSDJ@LJ@L@3Ö@DW@DHÃI@XSD
Â
TBµHUTB¸KZBUFLNBÁLNULSPEIPCIJKZBUF]]]]
#IBHBWBE(²UPage 28 of 179
Ö@DW@aUHSR,L@DGR,L@DG@32LHSHUL
LSPEIECIBWBUJTBNNPIBÁTBNNPIUTN®UJWJCISBNBÁ]
2LHSY@CATHµM@Y@DATHµM@Y@3e:9XHS
Â
TN®UJCISB©°ECVEEIJO°PCVEEIJO°UQSB´B°ZBUJ]]]]
Q@FbDHULTÄ$2STHUX@HMH-¸X$oQMÆ or HUXTÄ$2ST
SHBEWF¹BWJNVLUBJTUVWJ¹BZOJOESJZBJ°DBSBO] or WJZVLUBJTUV
@3LU9X$HU1WDX@3L@eR@CLHWF"#HS
Â
UNBWB°ZBJSWJEIFZUNQSBTEBNBEIJHBDDIBUJ]]]]
eR@CDRU1¯N@M@G@HMQ2X@DOI@XSD
QSBTEFTBSWBEVÁLIO©IOJSBTZPQBKZBUF]
eRºBDSR@DÐ@YTATHµOX1UHStSD
Â
QSBTBOOBDFUBTPIZ°VCVEEIJÁQBSZBWBUJ¹¾IBUF]]]]
M@H2SATHµQXTÄ2XMB@XTÄ2XÃ@UM@
OTUJCVEEIJSBZVLUBTZBOBDZVLUBTZBCIWBO]
MB@Ã@UXSY@H-SQY@-S2XJSRTNLÆ
Â
OBDCIWBZBUBÁ°OUJSB°OUBTZBLVUBÁTVLIBN]]]]
ÅH-¸X@:@HGBQS@X-LM@DMTHUW(XSD
JOESJZ´©IJDBSBU©ZBONBOPOVWJEI²ZBUF]
SC2XGQHSe\@U@XTM@1UHLU@,ÃHR
Â
UBEBTZBIBSBUJQSBK¸©WZVSOWBNJWNCIBTJ]]]]
#IBHBWBE(²UPage 29 of 179
S2L@
2XLG@A@G@DHMFG(S@HMRU1Y
UBTNEZBTZBNBICIPOJH®I²UOJTBSWB°BÁ]
ÅH-¸X@:(H-¸X@VD1>X2S2Xe\@eHSHtS@
Â
JOESJZ´²OESJZSUIFCIZBTUBTZBQSBK¸QSBUJ¹¾IJU]]]]
X@HMY@RU1Ã4S@M@S2X@I@FHS1RXL(
ZOJ°TBSWBCIÄUO©UBTZ©KHBSUJTB©ZBN²]
X2X@I@HSÃ4S@HMR@HMY@O9XS@DLTMD
Â
ZBTZ©KHSBUJCIÄUOJTOJ°QB°ZBUPNVOFÁ]]]]
@O4X1L@:LBKeHSt
QÄSZBN´BNBDBMBQSBUJ¹¾IB©
RLT¸L@OeHUYH-SXbSÆ
TBNVESBNQBÁQSBWJ°BOUJZBEWBU]
Sb3J@L@XeHUYH-SRUD1
UBEWBULNZB©QSBWJ°BOUJTBSWF
RY@H-SL@@DHSMJ@LJ@L(
Â
TB°OUJNQOPUJOBLNBLN²]]]]
HUG@XJ@L@-XRU@1-OTL@oQHSHM2OG
WJIZBLNOZBÁTBSWOQVN©°DBSBUJOJÁTQ®IBÁ]
HML1L@DHMQG@QRY@H-SLHWF"#HS
Â
OJSNBNPOJSBIBµLSBÁTB°OUJNBEIJHBDDIBUJ]]]]
#IBHBWBE(²UPage 30 of 179
@g@|(H2VHSO@V1M$M@e@/XHULTÐHS
F¹CSIN²TUIJUJÁQSUIBOBJO©QSQZBWJNVIZBUJ]
H2V3U@2X@L-SJ@KDHOg|HMU@1:L"#HS
Â
TUIJUWTZNBOUBLMFQJCSBINBOJSW´BN®DDIBUJ]]]]
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
R@.XX@DF@DM@LHbS(X@D7X@X
TµLIZBZPHPONBEWJU²ZPEIZZBÁ]]]]
#IBHBWBE(²UPage 31 of 179
VSS(X@D7X@X
BUIBU®U²ZPEIZZBÁ
IT1MU@B
BSKVOBVWDB]
)X@XR(BD3JL1:2SDLS@ATHµI1M@C1M
KZZBT²DFULBSNB´BTUFNBUCVEEIJSKBOSEBOB]
SH3JJL1H:Ç@DQDL@HMX@DIXHRJDYU
Â
UBULJ©LBSNB´JHIPSFN©OJZPKBZBTJLF°BWB]]]]
5X@HLrD:DUU@*XDMATHµL@DGXR(ULD
WZNJ°SF´FWBWLZFOBCVEEIJ©NPIBZBT²WBNF]
SCDJUCHMHo3XXDMrDX@DGL@TX@LÆ
Â
UBEFLB©WBEBOJ°DJUZBZFOB°SFZPIBNQOVZN]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
K@DJDH2LMÆHbHUW@HMt@OTQ@e@DÄ@LX@MÇ
MPLFTNJOEWJWJEIOJ¹¾IQVSQSPLUNBZOBHIB]
\@MX@DFDMR@.X@M@JL1X@DFDMX@DHFM@LÆ
Â
K¸OBZPHFOBTµLIZO©LBSNBZPHFOBZPHJON]]]]
#IBHBWBE(²UPage 32 of 179
MJL1:@LM@Q,Ã@º$J,XOTk@DqTSD
OBLBSNB´NBOSBNCIOOBJ¹LBSNZB©QVSV¹P°OVUF]
MBR-XRM@CDUHRHµRLHWF"#HS
Â
OBDBTBOOZBTBOEFWBTJEEIJ©TBNBEIJHBDDIBUJ]]]]
MHGJHo3<:LHOI@STHSt3XJL1JSÆ
OBIJLB°DJUL¹B´BNBQJKUVUJ¹¾IBUZBLBSNBL®U]
J@X1SDÐUYJL1RU1eJHSI$FT1:$
Â
LSZBUFIZBWB°BÁLBSNBTBSWBÁQSBL®UJKBJSHV´BJÁ]]]]
JLD1H-¸X@H:RX,XX @2SDLMR@2LQMÆ
LBSNFOESJZ´JTB©ZBNZBZBTUFNBOBTTNBSBO]
ÅH-¸X@V@1H-UL4%@3L@HL6X@B@QR"XSD
Â
JOESJZSUIOWJNĺIUNNJUIZDSBÁTBVDZBUF]]]]
XH23UH-¸X@H:LMR@HMX,X@QÃSDIT1M
ZBTUWJOESJZ´JNBOBTOJZBNZSBCIBUFSKVOB]
JLD1H-¸X$JL1X@DFLRÄRHUHYXSD
Â
LBSNFOESJZBJÁLBSNBZPHBNBTBLUBÁTBWJ°J¹ZBUF]]]]
HMXSJkJL13UJL1)X@X@DÐJL1:
OJZBUB©LVSVLBSNBUWB©LBSNBKZZPIZBLBSNB´BÁ]
YQ(QX@`@HOBSDMeHRµDCJL1:
Â
°BS²SBZUSQJDBUFOBQSBTJEEIZFEBLBSNB´BÁ]]]]
#IBHBWBE(²UPage 33 of 179
X\@V@13JL1:@D-X`K@DJ@DXJL1A-WM
ZBK¸SUIULBSNB´POZBUSBMPLPZB©LBSNBCBOEIBOBÁ]
SCVJL1J@$-SDXLTÄRØRL@BQ
Â
UBEBSUIB©LBSNBLBVOUFZBNVLUBTBµHBÁTBNDBSB]]]]
RGX\@eI@RPU@OTQ@DU@BeI@OHS
TBIBZBK¸ÁQSBKÁT®¹¾WQVSPWDBQSBKQBUJÁ]
MDMeRHUX7ULDU@DH23UuJ@LWTJ
Â
BOFOBQSBTBWJ¹ZBEIWBNF¹BWPTUWJ¹¾BLNBEIVL]]]]
CDU@-Ã@UXS@MDMSDCDU@Ã@UX-STU
EFWOCIWBZBUOFOBUFEFWCIWBZBOUVWBÁ]
OQ2OQÃ@UX-SrDXOQLU@/2XV
Â
QBSBTQBSB©CIWBZBOUBÁ°SFZBÁQBSBNBWQTZBUIB]]]]
Åu@-Ã@DF@H-GU@DCDU@C@2X-SDX\Ã@HUS@
J¹¾OCIPHOIJWPEFWETZBOUFZBK¸BCIWJUÁ]
S$C1^@MeC@X$>X@DX@DÃT D2SDMUR
Â
UBJSEBUUOBQSBEZBJCIZPZPCIVµLUFTUFOBFWBTBÁ]]]]
X\HYu@HYMR-S@DLT"X-SDRU1HJH+A$
ZBK¸B°J¹¾°JOBÁTBOUPNVDZBOUFTBSWBLJMCJ¹BJÁ]
ÃTSDSD3UÇO@O@XDOB-3X@3LJ@Q:@SÆ
Â
CIV¸KBUFUFUWBHIB©QQZFQBDBOUZUNBLSB´U]]]]
#IBHBWBE(²UPage 34 of 179
º@aUH-SÃ4S@HMOI1-X@CºR,ÃU
BOOECIBWBOUJCIÄUOJQBSKBOZEBOOBTBNCIBWBÁ]
X\@aUHSOI1-X@DX\JL1RLTaU
Â
ZBK¸ECIBWBUJQBSKBOZPZBK¸BÁLBSNBTBNVECIBWBÁ]]]]
JL1g|@DaUHUHµg|@<QRLTaULÆ
LBSNBCSBINPECIBWB©WJEEIJCSBINL¹BSBTBNVECIBWBN]
S2L@3RU1FSg|HM3XX\DeHSHtSLÆ
Â
UBTNUTBSWBHBUB©CSBINBOJUZB©ZBK¸FQSBUJ¹¾IJUBN]]]]
UeUHS1SBÖM@MTUS1XS(GX
FWB©QSBWBSUJUB©DBLSB©OOVWBSUBZBU²IBZBÁ]
Ç@XTHQH-¸X@Q@L@DL@DÇO@V1RI(UHS
Â
BHIZVSJOESJZSNPNPHIB©QSUIBTBK²WBUJ]]]]
X23U@3LQHSQDU2X@C@3LSÏoL@MU
ZBTUWUNBSBUJSFWBTZEUNBU®QUB°DBNOBWBÁ]
@3L-XDUBR-STu2S2XJ@XMHU
SD
Â
UNBOZFWBDBTBOUV¹¾BTUBTZBLSZB©OBWJEZBUF]]]]
M$US2XJSDM@V@D1M@JSDMDGJoM
OBJWBUBTZBL®UFOSUIPOL®UFOFIBLB°DBOB]
MB@2XRU1Ã4SDTJHoCV15XO@rX
Â
OBDTZBTBSWBCIÄUF¹VLB°DJEBSUIBWZBQ°SBZBÁ]]]]
#IBHBWBE(²UPage 35 of 179
S2L@CRÄRSSJ@XJL1RL@BQ
UBTNEBTBLUBÁTBUBUB©LSZB©LBSNBTBNDBSB]
RÄ@DÐ@BQ-JL1OQL@@DHSO4k
Â
BTBLUPIZDBSBOLBSNBQBSBNQOPUJQÄSV¹BÁ]]]]
JL1:$UHGRHRHµL@H2VS@IMJ@CX
LBSNB´BJWBIJTB©TJEEIJNTUIJUKBOBLEBZBÁ]
K@DJRGLDU@HOR,O9X-JST1LG1HR
Â
MPLBTBµHSBIBNFWQJTBNQB°ZBOLBSUVNBSIBTJ]]]]
X
C@BQHSrDt2S^CDUDSQ@DIM
ZBEZBEDBSBUJ°SF¹¾IBTUBUUBEFWFUBSPKBOBÁ]
RX3eL@:JkSDK@DJ2SCMTUS1SD
Â
TBZBUQSBN´B©LVSVUFMPLBTUBEBOVWBSUBUF]]]]
MLDO@V@1H2SJS15XH`TK@DJDTHJ®M
OBNFQSUITUJLBSUBWZB©USJ¹VMPLF¹VLJ¸DBOB]
M@MU@ÏLU@Ï5XUS1UBJL1H:
Â
OOBWQUBNBWQUBWZB©WBSUBFWBDBLBSNB´J]]]]
XHCÐGMUSD1XI@STJL1ZXSH-¸S
ZBEJIZBIB©OBWBSUFZB©KUVLBSNB´ZBUBOESJUBÁ]
LLU3L@1MTUS1-SDLMTX@O@V1RU1Y
Â
NBNBWBSUNOVWBSUBOUFNBOV¹ZÁQSUIBTBSWB°BÁ]]]]
#IBHBWBE(²UPage 36 of 179
3R(CDXTHQLDK@DJ@MJX@JL1BDCGLÆ
VUT²EFZVSJNFMPLOBLVSZ©LBSNBDFEBIBN]
RQ2XBJS@12X@LTOG-X@HLL@eI@
Â
TBµLBSBTZBDBLBSUTZNVQBIBOZNJNÁQSBKÁ]]]]
RÄ@JL1ZXHUb@R@DXV@JU1H-SÃ@QS
TBLUÁLBSNB´ZBWJEW©TPZBUILVSWBOUJCISBUB]
JX@1Hbb@2SV@RÄHoJ(T1K@D1JRGLÆ
Â
LVSZEWJEW©TUBUITBLUB°DJL²S¹VSMPLBTBµHSBIBN]]]]
MATHµÃDCIMXDC\@M@JL1RHØM@LÆ
OBCVEEIJCIFEB©KBOBZFEBK¸O©LBSNBTBµHJON]
I@DXD3RU1JL@1H:HUb@-XTÄRL@BQMÆ
Â
KP¹BZFUTBSWBLBSN´JWJEWOZVLUBÁTBNDBSBO]]]]
eJSDHÖXL@:@HMFT:$JL@1H:RU1Y
QSBL®UFÁLSJZBN´OJHV´BJÁLBSN´JTBSWB°BÁ]
G@QHUL4%@3L@JS@1GHLHSL-XSD
Â
BIBµLSBWJNĺIUNLBSUIBNJUJNBOZBUF]]]]
S_UHU^TLG@A@G@DFT:JL1HUÃ@FX@D
UBUUWBWJUUVNBICIPHV´BLBSNBWJCIHBZPÁ]
FT:@FT:DTUS1-SÅHSL3U@MRÙSD
Â
HV´HV´F¹VWBSUBOUBJUJNBUWOBTBKKBUF]]]]
#IBHBWBE(²UPage 37 of 179
eJSDFT1:R,L4%@RÙ-SDFT:JL1RT
QSBL®UFSHV´BTBNNĺIÁTBKKBOUFHV´BLBSNBTV]
S@MJ3xHUC@DL-C@-J3xHUºHUB@KXDSÆ
Â
UOBL®UTOBWJEPNBOEOL®UTOBWJOOBWJDMBZFU]]]]
LHXRU@1H:JL@1H:R-X2X@7X@3LBDSR@
NBZJTBSW´JLBSN´JTBOOZBTZEIZUNBDFUBT]
HMQ@Y(HM1L1L@DÃ43U@XT7X2UHUFS)UQ
Â
OJS°²SOJSNBNPCIÄUWZVEIZBTWBWJHBUBKWBSBÁ]]]]
XDLDLSHLCHM3XLMTHStH-SL@MU@
ZFNFNBUBNJEB©OJUZBNBOVUJ¹¾IBOUJNOBWÁ]
rµ@U-S@DMR4X-S@DLT"X-SDSDHOJL1HÃ
Â
°SBEEIWBOUPOBTÄZBOUPNVDZBOUFUFQJLBSNBCIJÁ]]]]
XD3UDSC>XR4X-S@DM@MTHStH-SLDLSLÆ
ZFUWFUBEBCIZBTÄZBOUPOOVUJ¹¾IBOUJNFNBUBN]
RU1\@MHUL4%@2S@H-UHµMu@MBDSR
Â
TBSWBK¸OBWJNĺI©TUOWJEEIJOB¹¾OBDFUBTBÁ]]]]
R}YBDuSD2U2X@eJSD\@1MU@MHO
TBE®°B©DF¹¾BUFTWBTZÁQSBL®UFSK¸OBWOBQJ]
eJHSX@H-SÃ4S@HMHMGHJJHQXHS
Â
QSBL®UJ©ZOUJCIÄUOJOJHSBIBÁLJ©LBSJ¹ZBUJ]]]]
#IBHBWBE(²UPage 38 of 179
ÅH-¸X2XDH-¸X2X@VD1Q@FbD@$5XUH2VS@$
JOESJZBTZFOESJZBTZSUIFSHBEWF¹BVWZBWBTUIJUBV]
SX@DM1UYL@F"#D^@$Ð2XOHQOH-VM@$
Â
UBZPSOBWB°BNHBDDIFUUBVIZBTZBQBSJQBOUIJOBV]]]]
rDX@-2UWL@D1HUFT:OQWL@132UMTHtS@SÆ
°SFZOTWBEIBSNPWJHV´BÁQBSBEIBSNUTWBOV¹¾IJUU]
2UWLD1HMWMrDXOQWL@D1ÃX@UG
Â
TWBEIBSNFOJEIBOB©°SFZBÁQBSBEIBSNPCIBZWBIBÁ]]]]
IT1MU@B
BSKVOBVWDB]
VJDMeXTÄ@DXO@OBQHSO4k
BUIBLFOBQSBZVLUPZB©QQB©DBSBUJQÄSV¹BÁ]
HM"#ºHOU@:D1XAK@HCUHMX@DHIS
Â
BOJDDIBOOBQJWS¹´FZBCBMEJWBOJZPKJUBÁ]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
J@LÖ@DWQI@DFT:RLTaU
LNBF¹BLSPEIBF¹BSBKPHV´BTBNVECIBWBÁ]
LG@YM@DLG@O@/L@HUµDMHLGU$HQ:LÆ
Â
NBI°BOPNBIQQNWJEEIZFOBNJIBWBJSJ´BN]]]]
#IBHBWBE(²UPage 39 of 179
W4LDM@HpXSDUH{X1V@CY@D1LKDMB
EIÄNFOWSJZBUFWBIOJSZBUIEBS°PNBMFOBDB]
XV@D+ADM@US@DFÃ12SV@SDMDCL@USLÆ
Â
ZBUIPMCFOW®UPHBSCIBTUBUIUFOFEBNW®UBN]]]]
@US\@MLDSDM\@HMM@DHM3XU$HQ:@
W®UB©K¸OBNFUFOBK¸OJOPOJUZBWBJSJ´]
J@LmOD:J@$-SDX¯O4QD:@MKDMB
Â
LNBSÄQF´BLBVOUFZBEV¹QÄSF´OBMFOBDB]]]]
ÅH-¸X@H:LM@DATHµQ2X@HWt@MLT"XSD
JOESJZ´JNBOPCVEEIJSBTZEIJ¹¾IOBNVDZBUF]
S$HU1L@DGX3XD\@ML@U3XCDHGMLÆ
Â
FUBJSWJNPIBZBUZF¹BK¸OBNW®UZBEFIJOBN]]]]
S2L@_UHLH-¸X@ZX@C@$HMX,XÃQS1Ã
UBTNUUWBNJOESJZ´ZEBVOJZBNZBCIBSBUBS¹BCIB]
O@/L@MeIHGÐDM\@MHU\@MM@YMLÆ
Â
QQNOB©QSBKBIJIZFOB©K¸OBWJK¸OBO°BOBN]]]]
ÅH-¸X@H:OQ@ZX@¤HQH-¸XD>XOQLM
JOESJZ´JQBS´ZIVSJOESJZFCIZBÁQBSB©NBOBÁ]
LMR2STOQ@ATHµX@D1ATµDOQS2STR
Â
NBOBTBTUVQBSCVEEIJSZPCVEEIFÁQBSBUBTUVTBÁ]]]]
#IBHBWBE(²UPage 40 of 179
UATµDOQATC7U@R2S>X@3L@ML@3LM@
FWB©CVEEIFÁQBSB©CVEEIWTB©TUBCIZUNOBNUNBO]
IHGY`TLG@A@G@DJ@LmO¯Q@RCLÆ
Â
KBIJ°BUSV©NBICIPLNBSÄQB©EVSTBEBN]]]]
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
JL1X@DF@DM@LSS(X@D7X@X
LBSNBZPHPONBU®U²ZPEIZZBÁ]]]]
#IBHBWBE(²UPage 41 of 179
VBSTV@D17X@X
BUIBDBUVSUIPEIZZBÁ
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
ÅLHUU2USDX@DFe@DÄU@MGL5XXLÆ
JNB©WJWBTWBUFZPHB©QSPLUBWOBIBNBWZBZBN]
HUU2U@-LMUDe@GLMTHQyU@JUDgU(SÆ
Â
WJWBTWONBOBWFQSIBNBOVSJL¹WLBWFCSBW²U]]]]
UOQ,OQ@e@ÏHLLQ@I1X@DHU¯
FWB©QBSBNQBSQSQUBNJNB©SKBS¹BZPWJEVÁ]
RJ@KDMDGLGS@X@DF@DMuOQ-SO
Â
TBLMFOFIBNBIBUZPHPOB¹¾BÁQBSBOUBQB]]]]
RU@XLX@SD
X@DFe@DÄOTQ@SM
TBFWZB©NBZUFEZBZPHBÁQSPLUBÁQVSUBOBÁ]
ÃÄ@DHRLDRN@BDHSQG2XÐDS¯^LLÆ
Â
CIBLUPTJNFTBLIDFUJSBIBTZB©IZFUBEVUUBNBN]]]]
#IBHBWBE(²UPage 42 of 179
IT1MU@B
BSKVOBVWDB]
OQÃUS@DI-LOQI-LHUU2US
BQBSB©CIBWBUPKBONBQBSB©KBONBWJWBTWBUBÁ]
JVLDSHbI@M(X@3UL@C@$e@DÄU@HMHS
Â
LBUIBNFUBEWJKO²Z©UWBNEBVQSPLUBWOJUJ]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
AHMLD5XS(S@HMI-L@HMSUB@IT1M
CBIÄOJNFWZBU²UOJKBONOJUBWBDSKVOB]
S@-XGUDCRU@1H:M3UUD3VOQ-SO
Â
UOZBIB©WFEBTBSW´JOBUWB©WFUUIBQBSBOUBQB]]]]
I@DHORº5XX@3L@Ã4S@M@L(sQ@DHORMÆ
BKPQJTBOOBWZBZUNCIÄUON²°WBSPQJTBO]
eJHS2U@LHWt@XR,ÃU@,X@3LL@XX@
Â
QSBL®UJ©TWNBEIJ¹¾IZBTBNCIBWNZUNBNZBZ]]]]
XC@XC@HGWL12X&K@HMÃ1UHSÃ@QS
ZBEZBEIJEIBSNBTZBHMOJSCIBWBUJCISBUB]
>XT3V@MLWL12XSC@3L@MRI@,XGLÆ
Â
BCIZVUUIOBNBEIBSNBTZBUBEUNOB©T®KNZBIBN]]]]
#IBHBWBE(²UPage 43 of 179
OHQ`@:@XR@W4M@HUM@Y@XB¯JS@LÆ
QBSJUS´ZBTEIÄO©WJO°ZBDBEV¹L®UN]
WL1R2V@OM@V@1XR,ÃU@HLXTFDXTFD
Â
EIBSNBTB©TUIQBOSUIZBTBNCIBWNJZVHFZVHF]]]]
I-LJL1BLDHC5XLDUX@DUDH^S_US
KBONBLBSNBDBNFEJWZBNFWB©ZPWFUUJUBUUWBUBÁ]
3X
U@CDGOTMI1-LM$HSL@LDHSR@DIT1M
Â
UZBLUWEFIB©QVOBSKBONBOBJUJNNFUJTPSKVOB]]]]
U(SQ@FÃXÖ@DW@L-LX@L@LTO@HrS@
W²UBSHBCIBZBLSPEINBONBZNNVQ°SJUÁ]
AGU@D\@MSOR@O4S@La@UL@FS@
Â
CBIBWPK¸OBUBQBTQÄUNBECIWBNHBUÁ]]]]
XDXV@L@eO
-SDS@2SV$UÃI@,XGLÆ
ZFZBUIN©QSBQBEZBOUFU©TUBUIBJWBCIBKNZBIBN]
LLU3L@1MTUS1-SDLMTX@O@V1RU1Y
Â
NBNBWBSUNOVWBSUBOUFNBOV¹ZÁQSUIBTBSWB°BÁ]]]]
J@<-SJL1:@HRHµXI-SÅGCDUS@
LµL¹BOUBÁLBSNB´©TJEEIJ©ZBKBOUBJIBEFWBUÁ]
H<eHGL@MTDK@DJDHRHµÃ1UHSJL1I@
Â
L¹JQSB©IJNOV¹FMPLFTJEEIJSCIBWBUJLBSNBK]]]]
#IBHBWBE(²UPage 44 of 179
B@STU1ZXLX@RuFT:JL1HUÃ@FY
DUVSWBS´ZB©NBZT®¹¾B©HV´BLBSNBWJCIHB°BÁ]
S2XJS@1QLHOL@HUµJS@1QL5XXLÆ
Â
UBTZBLBSUSBNBQJN©WJEEIZBLBSUSBNBWZBZBN]]]]
ML@JL@1H:HK,OH-SMLDJL1 KD2OG@
OBN©LBSN´JMJNQBOUJOBNFLBSNBQIBMFTQ®I]
ÅHSL@X@DHÃI@M@HSJL1HÃM1RA7XSD
Â
JUJN©ZPCIJKOUJLBSNBCIJSOBTBCBEIZBUF]]]]
U\@3U@JSJL1O4U$1QHOLTLT<THÃ
FWB©K¸UWL®UB©LBSNBQÄSWBJSBQJNVNVL¹VCIJÁ]
JkJL$1US2L@_UO4U$1O4U1SQJSLÆ
Â
LVSVLBSNBJWBUBTNUUWB©QÄSWBJÁQÄSWBUBSB©L®UBN]]]]
HJJL1HJLJLD1HSJUX@D/X`L@DHGS@
LJ©LBSNBLJNBLBSNFUJLBWBZPQZBUSBNPIJUÁ]
S^DJL1eUyX@HLX)\@3U@L@DyXRDYTÃ@SÆ
Â
UBUUFLBSNBQSBWBL¹ZNJZBKK¸UWNPL¹ZBTF°VCIU]]]]
JL1:@DÐHOA@Dµ5XA@Dµ5XBHUJL1:
LBSNB´PIZBQJCPEEIBWZB©CPEEIBWZB©DBWJLBSNB´BÁ]
JL1:oA@Dµ5XFGM@JL1:@DFHS
Â
BLBSNB´B°DBCPEEIBWZB©HBIBOLBSNB´PHBUJÁ]]]]
#IBHBWBE(²UPage 45 of 179
JL1ZXJL1XO9XDCJL1H:BJL1X
LBSNB´ZBLBSNBZBÁQB°ZFEBLBSNB´JDBLBSNBZBÁ]
RATHµL@-LMTXDTRXTÄJ3xJL1JSÆ
Â
TBCVEEIJNONBOV¹ZF¹VTBZVLUBÁL®UTOBLBSNBL®U]]]]
X2XRUD1RL@Q,Ã@J@LR+OUHI1S@
ZBTZBTBSWFTBNSBNCIÁLNBTBµLBMQBWBSKJUÁ]
\@M@HC&WJL@1:SL@¤OHZESATW@
Â
K¸OHOJEBHEIBLBSN´B©UBNIVÁQB´ºJUB©CVEIÁ]]]]
3X
U@JL1 K@RØHM3XSÏ@DHMQ@rX
UZBLUWLBSNBQIBMTBµHB©OJUZBU®QUPOJS°SBZBÁ]
JL1ZXHÃeU^@DHOM$UHJH®3JQ@DHSR
Â
LBSNB´ZBCIJQSBW®UUPQJOBJWBLJ¸DJULBSPUJTBÁ]]]]
HMQ@Y(X1SHB^@3L@3XÄRU1OHQG
OJS°²SZBUBDJUUUNUZBLUBTBSWBQBSJHSBIBÁ]
Y@Q(QJDUKJL1JU1º@@DHSHJH+ALÆ
Â
°S²SB©LFWBMB©LBSNBLVSWBOOQOPUJLJMCJ¹BN]]]]
X}"#@K@ÃR-STu@Db-b@S(S@DHUL3RQ
ZBE®DDIMCIBTBOUV¹¾PEWBOEWU²UPWJNBUTBSBÁ]
RLHRµ@UHRµ@$BJ3U@HOMHMA7XSD
Â
TBNBÁTJEEIWBTJEEIBVDBL®UWQJOBOJCBEIZBUF]]]]
#IBHBWBE(²UPage 46 of 179
FSRØ2XLTÄ2X\@M@UH2VSBDSR
HBUBTBµHBTZBNVLUBTZBK¸OWBTUIJUBDFUBTBÁ]
X\@X@BQSJL1RLeHUK(XSD
Â
ZBK¸ZDBSBUBÁLBSNBTBNBHSB©QSBWJM²ZBUF]]]]
g|@O1:g|GHUg1|@@$g|:@¤SLÆ
CSBINSQB´B©CSBINBIBWJSCSBINHOBVCSBINB´IVUBN]
g|$USDMF-S5Xg|JL1RL@HWM@
Â
CSBINBJWBUFOBHBOUBWZB©CSBINBLBSNBTBNEIJO]]]]
C$ULDU@OQDX\X@DHFMOXT1O@RSD
EBJWBNFWQBSFZBK¸B©ZPHJOBÁQBSZVQTBUF]
g|@@UOQDX\X\DM$U@DOITÒHS
Â
CSBINHOWBQBSFZBK¸B©ZBK¸FOBJWPQBKVIWBUJ]]]]
r@D`@C(M(H-¸X@ZX-XDRXL@HTITÒHS
°SPUSE²O²OESJZ´ZBOZFTB©ZBNHOJ¹VKVIWBUJ]
Y!C@C(H-UX@M-XÅH-¸X@HTITÒHS
Â
°BCEE²OWJ¹BZOBOZBJOESJZHOJ¹VKVIWBUJ]]]]
RU@1:(H-¸XJL@1H:e@:JL@1H:B@OQD
TBSW´²OESJZBLBSN´JQS´BLBSN´JDQBSF]
@3LRXLX@DF@@$ITÒHS\@MC(HOSD
Â
UNBTB©ZBNBZPHHOBVKVIWBUJK¸OBE²QJUF]]]]
#IBHBWBE(²UPage 47 of 179
¸5XX\@2SO@DX\@X@DFX\@2SV@OQD
ESBWZBZBK¸TUBQPZBK¸ZPHBZBK¸TUBUIQBSF]
2U@7X@X\@MX\@oXSXRHYSpS@
Â
TWEIZZBK¸OBZBK¸°DBZBUBZBÁTB©°JUBWSBUÁ]]]]
O@MDITÒHSe@:e@:DO@MSV@OQD
BQOFKVIWBUJQS´B©QS´FQOB©UBUIQBSF]
e@:@O@MFS(kC7U@e@:@X@LOQ@X:@
Â
QS´QOBHBU²SVEEIWQS´ZNBQBSZB´Á]]]]
OQDHMXS@G@Q@e@:@-e@:DTITÒHS
BQBSFOJZBUISÁQS´OQS´F¹VKVIWBUJ]
RUD1/XDSDX\HUC@DX\<HOSJ+L@
Â
TBSWFQZFUFZBK¸BWJEPZBK¸BL¹BQJUBLBMNB¹Á]]]]
X\HYu@LSÃTI@DX@H-Sg|RM@SMLÆ
ZBK¸B°J¹¾N®UBCIVKPZOUJCSBINBTBOUBOBN]
M@XK@DJ@D23XX\2XJS@D-XJkR^L
Â
OZB©MPLPTUZBZBK¸BTZBLVUPOZBÁLVSVTBUUBNB]]]]
UA¤HUW@X\@HUSS@g|:@DLTND
FWB©CBIVWJEIZBK¸WJUBUCSBINB´PNVLIF]
JL1I@H-UHµS@-RU@1MDU\@3U@HUL@DyXRD
Â
LBSNBKOWJEEIJUOTBSWOFWB©K¸UWWJNPL¹ZBTF]]]]
#IBHBWBE(²UPage 48 of 179
rDX@-¸5XLX@
\@)\@MX\OQ-SO
°SFZOESBWZBNBZEZBK¸KK¸OBZBK¸BÁQBSBOUBQB]
RUJL@1HNKO@V1\@MDOHQRL@/XSD
Â
TBSWB©LBSNLIJMB©QSUIBK¸OFQBSJTBNQZBUF]]]]
SHbHµeH:O@SDMOHQeqDMRDUX@
UBEWJEEIJQSB´JQUFOBQBSJQSB°OFOBTFWBZ]
OCDyXH-SSD\@M\@HMM2S_UCHY1M
Â
VQBEFL¹ZBOUJUFK¸OB©K¸OJOBTUBUUWBEBS°JOBÁ]]]]
X)\@3U@MOTML@D1GLDUX@2XHRO@ZEU
ZBKK¸UWOBQVOBSNPIBNFWB©ZTZBTJQ´ºBWB]
XDMÃ4S@-XYD@H:¸yX2X@3L-XV@DLHX
Â
ZFOBCIÄUOZB°F¹´JESBL¹ZBTZUNBOZBUIPNBZJ]]]]
HOBDCHRO@OD>XRUD1>XO@OJ^L
BQJDFEBTJQQFCIZBÁTBSWFCIZBÁQQBL®UUBNBÁ]
RU\@M/KUDM$UUHIMR-SHQXHR
Â
TBSWB©K¸OBQMBWFOBJWBW®KJOB©TBOUBSJ¹ZBTJ]]]]
XV$W@HRRHLµ@DHÃ12LR@3JkSDIT1M
ZBUIBJEI©TJTBNJEEIPHOJSCIBTNBTULVSVUFSKVOB]
\@M@HRU1JL@1H:Ã2LR@3JkSDSV@
Â
K¸OHOJÁTBSWBLBSN´JCIBTNBTULVSVUFUBUI]]]]
#IBHBWBE(²UPage 49 of 179
MHG\@MDMR}YOHU`HLGHU
SD
OBIJK¸OFOBTBE®°B©QBWJUSBNJIBWJEZBUF]
S32UXX@DFRHRµJ@KDM@3LHMHU-CHS
Â
UBUTWBZB©ZPHBTB©TJEEIBÁLMFOUNBOJWJOEBUJ]]]]
rµ@U@]¢ÃSD\@MS3OQRXSDH-¸X
°SBEEIWÖMMBCIBUFK¸OB©UBUQBSBÁTB©ZBUFOESJZBÁ]
\@MK!7U@OQ@Y@H-SLHBQD:@HWF"#HS
Â
K¸OB©MBCEIWQBS©°OUJNBDJSF´EIJHBDDIBUJ]]]]
\o@r´W@MoRYX@3L@HUM9XHS
BK¸B°D°SBEEBEIOB°DBTB©°BZUNWJOB°ZBUJ]
M@XK@DJ@DH2SMOQ@DMRTNRYX@3LM
Â
OZB©MPLPTUJOBQBSPOBTVLIB©TB©°BZUNBOBÁ]]]]
X@DFR-X2SJL@1:\@MRH°#ºRYXLÆ
ZPHBTBOOZBTUBLBSN´B©K¸OBTB¸DIJOOBTB©°BZBN]
@3LU-SMJL@1H:HMAÓH-SWMX
Â
UNBWBOUB©OBLBSN´JOJCBEIOBOUJEIBOB¸KBZB]]]]
S2L@C\@MR,Ã4Sz32V\@M@HRM@3LM
UBTNEBK¸OBTBNCIÄUB©I®UTUIB©K¸OTJOUNBOBÁ]
H#_U$MRYXX@DFL@HSt@DH^tÃ@QS
Â
DIJUUWBJOB©TB©°BZB©ZPHBNUJ¹¾IPUUJ¹¾IBCISBUB]]]]
#IBHBWBE(²UPage 50 of 179
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
\@MJL1R-X@RX@DF@DM@LBSTV@D17X@X
K¸OBLBSNBTBOOZTBZPHPONBDBUVSUIPEIZZBÁ]]]]
#IBHBWBE(²UPage 51 of 179
VO®L@D7X@X
BUIBQB¸DBNPEIZZBÁ
IT1MU@B
BSKVOBVWDB]
R-X@RJL1:@J:OTMX@D1FBYRHR
TBOOZTB©LBSNB´©L®¹´BQVOBSZPHB©DB°B©TBTJ]
X"DXSX@DQDJS-LDg4HGRTHMHoSLÆ
Â
ZBDDISFZBFUBZPSFLB©UBONFCSÄIJTVOJ°DJUBN]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
R-X@RJL1X@DFoHMrDXRJQ@UTÃ@$
TBOOZTBÁLBSNBZPHB°DBOJÁ°SFZBTBLBSWVCIBV]
SX@D2STJL1R-X@R@3JL1X@DF@DHUHYXSD
Â
UBZPTUVLBSNBTBOOZTULBSNBZPHPWJ°J¹ZBUF]]]]
\DXRHM3XR-X@R(X@DMbDHuMJ@<HS
K¸FZBÁTBOJUZBTBOOZT²ZPOBEWF¹¾JOBLµL¹BUJ]
HMb1-b@DHGLG@A@G@DRTNA-W@3eLT"XSD
Â
OJSEWBOEWPIJNBICIPTVLIB©CBOEIUQSBNVDZBUF]]]]
#IBHBWBE(²UPage 52 of 179
R@.XX@DF@$OV&A@K@eUCH-SMOHZES@
TµLIZBZPHBVQ®UIBHCMÁQSBWBEBOUJOBQB´ºJUÁ]
X3R@.X$e@/XSD2V@MS
@DF$QHOF,XSD
ZBUTµLIZBJÁQSQZBUFTUIOB©UBEZPHBJSBQJHBNZBUF]
JR@.XBX@DFBXO9XHSRO9XHS
Â
FLB©TµLIZB©DBZPHB©DBZBÁQB°ZBUJTBQB°ZBUJ]]]]
R-X@R2STLG@A@G@D¯NL@ÏTLX@DFS
TBOOZTBTUVNBICIPEVÁLIBNQUVNBZPHBUBÁ]
X@DFXTÄ@DLTHMg1|MHBQD:@HWF"#HS
Â
ZPHBZVLUPNVOJSCSBINBOBDJSF´EIJHBDDIBUJ]]]]
X@DFXTÄ@DHUYTµ@3L@HUHIS@3L@HISDH-¸X
ZPHBZVLUPWJ°VEEIUNWJKJUUNKJUFOESJZBÁ]
RU1Ã4S@3LÃ4S@3L@JU1ºHOMHK/XSD
Â
TBSWBCIÄUUNBCIÄUUNLVSWBOOBQJOBMJQZBUF]]]]
M$UHJH®3JQ@DL(HSXTÄ@DL-XDSS_UHUSÆ
OBJWBLJ¸DJULBSPN²UJZVLUPNBOZFUBUBUUWBWJU]
O9X°rTZU-2OYHºq-F"#-2UO°sRMÆ
Â
QB°ZB¸°SV´WBOTQ®°B¸KJHISBOOB°OBOHBDDIBOTWBQB¸°WBTBO]]]]
#IBHBWBE(²UPage 53 of 179
eKOH-URI-F¦ºTH-LHºHLºHO
QSBMBQBOWJT®KBOH®I´BOOVONJ¹BOOJNJ¹BOOBQJ]
ÅH-¸X@:(H-¸X@VD1TUS1-SÅHSW@QXMÆ
Â
JOESJZ´²OESJZSUIF¹VWBSUBOUBJUJEISBZBO]]]]
g|ZX@W@XJL@1H:RØ3X
U@JQ@DHSX
CSBINB´ZEIZBLBSN´JTBµHB©UZBLUWLBSPUJZBÁ]
HK/XSDMRO@ODMO¹O`HLU@,ÃR@
Â
MJQZBUFOBTBQQFOBQBENBQBUSBNJWNCIBT]]]]
J@XDMLMR@ATµ@JDUK$HQH-¸X$QHO
LZFOBNBOBTCVEEIZLFWBMBJSJOESJZBJSBQJ]
X@DHFMJL1JU1H-SRØ3X
U@3LYTµXD
Â
ZPHJOBÁLBSNBLVSWBOUJTBµHB©UZBLUWUNB°VEEIBZF]]]]
XTÄJL1 K3X
U@Y@H-SL@@DHSM$HtJ(LÆ
ZVLUBÁLBSNBQIBMB©UZBLUW°OUJNQOPUJOBJ¹¾IJL²N]
RU1JL@1H:LMR@R-X2X@2SDRTNUY(
TBSWBLBSN´JNBOBTTBOOZBTZTUFTVLIB©WB°²]
MUb@QDOTQDCDG(M$UJU1ºJ@QXMÆ
Â
OBWBEWSFQVSFEFI²OBJWBLVSWBOOBLSBZBO]]]]
#IBHBWBE(²UPage 54 of 179
MJS13UMJL@1H:K@DJ2XRIHSeÃT
OBLBSU®UWB©OBLBSN´JMPLBTZBT®KBUJQSBCIVÁ]
M@C^DJ2XHB3O@OMB$URTJSHUÃT
OEBUUFLBTZBDJUQQB©OBDBJWBTVL®UB©WJCIVÁ]
\@MDM@US\@MSDMLTÐH-SI-SU
Â
BK¸OFOW®UB©K¸OB©UFOBNVIZBOUJKBOUBWBÁ]]]]
\@MDMSTSC\@MXD@M@HYSL@3LM
K¸OFOBUVUBEBK¸OB©ZF¹©O°JUBNUNBOBÁ]
SD@L@HC3XU)\@MeJ@YXHSS3OQLÆ
Â
UF¹NEJUZBWBKK¸OB©QSBL°BZBUJUBUQBSBN]]]]
S·«µX2SC@3L@M2SHºt@2S3OQ@X:@
UBECVEEIBZBTUBEUNOBTUBOOJ¹¾ITUBUQBSZB´Á]
F"#-3XOTMQ@UH^\@MHMW41SJ+L@
Â
HBDDIBOUZBQVOBSW®UUJ©K¸OBOJSEIÄUBLBMNB¹Á]]]]
HU
@HUMXR,OºDg@|:DFHUGH2SHM
WJEZWJOBZBTBNQBOOFCSINB´FHBWJIBTUJOJ]
YTHMB$UsO@JDBOHZES@RLCHY1M
Â
°VOJDBJWB°WBQLFDBQB´ºJUÁTBNBEBS°JOBÁ]]]]
#IBHBWBE(²UPage 55 of 179
ÅG$US$HI1SRF@D1XD@R@,XDH2VSLM
JIBJWBUBJSKJUBÁTBSHPZF¹©TNZFTUIJUB©NBOBÁ]
HMC@D1HGRLg|S2L@Cg|H:SDH2VS@
Â
OJSEP¹B©IJTBNB©CSBINBUBTNECSBINB´JUFTUIJUÁ]]]]
MezXDH3eXe@/XM@DHbID3e@/XB@HeXLÆ
OBQSBI®¹ZFUQSJZB©QSQZBOPEWJKFUQSQZBDQSJZBN]
H2VQATHµQR,L4%@Dg|HUCg|H:H2VS
Â
TUIJSBCVEEIJSBTBNNĺIPCSBINBWJECSBINB´JTUIJUBÁ]]]]
A@Ð2OYD1URÄ@3L@HU-C3X@3LHMX3RTNLÆ
CIZBTQBS°F¹WBTBLUUNWJOEBUZUNBOJZBUTVLIBN]
Rg|X@DFXTÄ@3L@RTNL<XLqTSD
Â
TBCSBINBZPHBZVLUUNTVLIBNBL¹BZBNB°OVUF]]]]
XDHGR2OY1I@Ã@DF@¯NX@DMXUSD
ZFIJTB©TQBS°BKCIPHEVÁLIBZPOBZBFWBUF]
@
-SU-SJ@$-SDXMSDTQLSDATW
Â
EZBOUBWBOUBÁLBVOUFZBOBUF¹VSBNBUFCVEIBÁ]]]]
YÕ@DS(G$UXR@D%Te@*YQ(QHUL@D<:@SÆ
°BLOPU²IBJWBZBÁTPºIV©QSL°BS²SBWJNPL¹B´U]
J@LÖ@DW@DaUUDFRXTÄRRTN(MQ
Â
LNBLSPEIPECIBWB©WFHB©TBZVLUBÁTBTVLI²OBSBÁ]]]]
#IBHBWBE(²UPage 56 of 179
X@D-SRTN@D-SQ@Q@L2SV@-S)X@D1HSQDUX
ZPOUBÁTVLIPOUBSSNBTUBUIOUBSKZPUJSFWBZBÁ]
RX@DF(g|HMU@1:g|Ã4S@DHWF"#HS
Â
TBZPH²CSBINBOJSW´B©CSBINBCIÄUPEIJHBDDIBUJ]]]]
KÃ-SDg|HMU@1:LX<(:J+L@
MBCIBOUFCSBINBOJSW´BN®¹BZBÁL¹²´BLBMNB¹Á]
H#ºb$W@XS@3L@MRU1Ã4SHGSDQS@
Â
DIJOOBEWBJEIZBUUNOBÁTBSWBCIÄUBIJUFSBUÁ]]]]
J@LÖ@DWHUXTÄ@M@XS(M@XSBDSR@LÆ
LNBLSPEIBWJZVLUO©ZBU²O©ZBUBDFUBTN]
HÃS@Dg|HMU@1:US1SDHUHCS@3LM@LÆ
Â
BCIJUPCSBINBOJSW´B©WBSUBUFWJEJUUNBON]]]]
2OY@1-J3U@AHGA@1Ð@o<To$U@-SQDTU@D
TQBS°OL®UWCBIJSCIZ©°DBL¹V°DBJWOUBSFCISVWPÁ]
e@:@O@M@$RL@$J3U@M@R@>X-SQB@HQ:@$
Â
QS´QOBVTBNBVL®UWOTCIZBOUBSBDSJ´BV]]]]
XSDH-¸XLM@DATHµLT1HML@D1<OQ@X:
ZBUFOESJZBNBOPCVEEIJSNVOJSNPL¹BQBSZB´BÁ]
HUFSD"#@ÃXÖ@DW@DXRC@LTÄUR
Â
WJHBUFDDICIBZBLSPEIPZBÁTBENVLUBFWBTBÁ]]]]
#IBHBWBE(²UPage 57 of 179
Ã@DÄ@QX\SOR@RU1K@DJLGDsQLÆ
CIPLUSB©ZBK¸BUBQBT©TBSWBMPLBNBIF°WBSBN]
RTzCRU1Ã4S@M@\@3U@L@Y@H-SL"#HS
Â
TVI®EB©TBSWBCIÄUO©K¸UWN©°OUJN®DDIBUJ]]]]
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
R-X@RX@DF@DM@LO®L@D7X@X
TBOOZTBZPHPONBQB¸DBNPEIZZBÁ]]]]
#IBHBWBE(²UPage 58 of 179
Vt@D7X@X
BUIB¹B¹¾IPEIZZBÁ
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
M@HrSJL1 KJ@XJL1JQ@DHSX
BO°SJUBÁLBSNBQIBMB©LSZB©LBSNBLBSPUJZBÁ]
RR-X@R(BX@DF(BMHMQHM1B@HÖX
Â
TBTBOOZT²DBZPH²DBOBOJSBHOJSOBDLSJZBÁ]]]]
XR-X@RHLHSe@¤X@D1FSHUHµO@ZEU
ZB©TBOOZTBNJUJQSIVSZPHB©UB©WJEEIJQ´ºBWB]
MÐR-X2SR+O@DX@DF(ÃUHSJoM
Â
OBIZBTBOOZBTUBTBµLBMQPZPH²CIBWBUJLB°DBOB]]]]
@kk<@DLT1MDX@D1FJL1J@Q:LT"XSD
SVSVL¹PSNVOFSZPHB©LBSNBLSB´BNVDZBUF]
X@DF@m%2XS2X$UYLJ@Q:LT"XSD
Â
ZPHSĺIBTZBUBTZBJWB°BNBÁLSB´BNVDZBUF]]]]
#IBHBWBE(²UPage 59 of 179
XC@HGMDH-¸X@VD1TMJL12UMTÙSD
ZBEIJOFOESJZSUIF¹VOBLBSNBTWBOV¹BKKBUF]
RU1R+OR-X@R(X@DF@m%2SC@D"XSD
Â
TBSWBTBµLBMQBTBOOZT²ZPHSĺIBTUBEPDZBUF]]]]
µQDC@3LM@3L@MM@3L@MLUR@CXDSÆ
VEEIBSFEUNBOUNOB©OUNOBNBWBTEBZFU]
@3L$UÐ@3LM@DA-WTQ@3L$UHQOTQ@3LM
Â
UNBJWBIZUNBOPCBOEIVSUNBJWBSJQVSUNBOBÁ]]]]
A-WTQ@3L@3LM2S2XXDM@3L$U@3LM@HIS
CBOEIVSUNUNBOBTUBTZBZFOUNBJWUNBOKJUBÁ]
M@3LM2STY`T3UDUSD1S@3L$UY`TUSÆ
Â
BOUNBOBTUV°BUSVUWFWBSUFUUNBJWB°BUSVWBU]]]]
HIS@3LMeY@-S2XOQL@3L@RL@HGS
KJUUNBOBÁQSB°OUBTZBQBSBNUNTBNIJUBÁ]
Y(S@D:RTN¯NDTSV@L@M@OL@MX@D
Â
°²UP¹´BTVLIBEVÁLIF¹VUBUINOQBNOBZPÁ]]]]
\@MHU\@MSÏ@3L@JP2V@DHUHISDH-¸X
K¸OBWJK¸OBU®QUUNLľBTUIPWJKJUFOESJZBÁ]
XTÄÅ3XT"XSDX@DF(RLK@Du@9LJ@®M
Â
ZVLUBJUZVDZBUFZPH²TBNBMP¹¾°NBL¸DBOBÁ]]]]
#IBHBWBE(²UPage 60 of 179
RTzH-L`@XT1C@R(ML7X2VbDXA-WTT
TVI®ONJUSSZVET²OBNBEIZBTUIBEWF¹ZBCBOEIV¹V]
R@WTUHOBO@ODTRLATHµHU1HYXSD
Â
TEIV¹WBQJDBQQF¹VTBNBCVEEIJSWJ°J¹ZBUF]]]]
X@DF(XT(SRSSL@3L@MQGHRH2VS
ZPH²ZV¸K²UBTBUBUBNUNOB©SBIBTJTUIJUBÁ]
J@J(XSHB^@3L@HMQ@Y(QOHQG
Â
FLL²ZBUBDJUUUNOJS°²SBQBSJHSBIBÁ]]]]
YTB@$CDYDeHSt@/XH2VQL@RML@3LM
°VDBVEF°FQSBUJ¹¾IQZBTUIJSBNTBOBNUNBOBÁ]
M@3XTH"SM@HSM(BB$K@HIMJY@D^QLÆ
Â
OUZVDDISJUB©OUJO²DB©DBJMKJOBLV°PUUBSBN]]]]
S`$J@LMJ3U@XSHB^DH-¸XHÖX
UBUSBJLHSB©NBOBÁL®UWZBUBDJUUFOESJZBLSJZBÁ]
OHU9X@RMDXT°)X@
@DFL@3LHUYTµXD
Â
VQBWJ°ZTBOFZV¸KZEZPHBNUNBWJ°VEEIBZF]]]]
RLJ@XHYQ@D(UW@QXºBKH2VQ
TBNB©LZB°JSPHS²WB©EISBZBOOBDBMB©TUIJSBÁ]
R,eDyXM@HRJ@2UHCYo@MUK@DJXMÆ
Â
TBNQSFL¹ZBOTJLHSB©TWB©EJ°B°DOBWBMPLBZBO]]]]
#IBHBWBE(²UPage 61 of 179
eY@-S@3L@HUFSÃ(g1|B@HQpSDH2VS
QSB°OUUNWJHBUBCI²SCSBINBDSJWSBUFTUIJUBÁ]
XTºDURC@3L@MX@DF(HMXSL@MR
ZV¸KBOOFWB©TBEUNOB©ZPH²OJZBUBNOBTBÁ]
Y@H-SHMU@1:OQL@L3R2V@LHWF"#HS
Â
°OUJ©OJSW´BQBSBN©NBUTB©TUINBEIJHBDDIBUJ]]]]
M@3XqS2STX@DF@DH2SMB$J@-SLMqS
OUZB°OBUBTUVZPHPTUJOBDBJLOUBNBOB°OBUBÁ]
MB@HS2UY(K2XI@S@DM$UB@IT1M
Â
OBDUJTWBQOB°²MBTZBKHSBUPOBJWBDSKVOB]]]]
XTÄ@G@QHUG@Q2XXTÄBDu2XJL1RT
ZVLUISBWJISBTZBZVLUBDF¹¾BTZBLBSNBTV]
XTÄ2U@UA@DW2XX@DF@DÃUHS¯NG@
Â
ZVLUBTWBQOWBCPEIBTZBZPHPCIBWBUJEVÁLIBI]]]]
XC@HUHMXSHB^L@3L-XDU@UHStSD
ZBEWJOJZBUB©DJUUBNUNBOZFWWBUJ¹¾IBUF]
HM2OGRU1J@LD>X@DXTÄÅ3XT"XSDSC@
Â
OJÁTQ®IBÁTBSWBLNFCIZPZVLUBJUZVDZBUFUBE]]]]
#IBHBWBE(²UPage 62 of 179
XV@C(O@DHMU@S2V@DMDØSDR@DOL@2LS@
ZBUIE²QPOJWUBTUIPOFµHBUFTPQBNTN®U]
X@DHFM@DXSHB^2XXTS@DX@DFL@3LM
Â
ZPHJOPZBUBDJUUBTZBZV¸KBUPZPHBNUNBOBÁ]]]]
X`@DOQLSDHB^HMkµX@DFRDUX@
ZBUSPQBSBNBUFDJUUB©OJSVEEIB©ZPHBTFWBZ]
X`B$U@3LM@3L@MO9Xº@3LHMSTXHS
Â
ZBUSBDBJWUNBOUNOB©QB°ZBOOUNBOJUV¹ZBUJ]]]]
RTNL@3XH-SJX^CATHµ@ÐLS(H-¸XLÆ
TVLIBNUZBOUJLB©ZBUUBECVEEIJHSIZBNBU²OESJZBN]
UDH^X`MB$U@XH2VSoKHSS_US
Â
WFUUJZBUSBOBDBJWZB©TUIJUB°DBMBUJUBUUWBUBÁ]]]]
XK!7U@B@OQK@ÃL-XSDM@HWJSS
ZB©MBCEIWDQBSB©MCIB©NBOZBUFOEIJLB©UBUBÁ]
XH2LH-2VS@DM¯NDMFTk:@HOHUB@+XSD
Â
ZBTNJOTUIJUPOBEVÁLIFOBHVSV´QJWJDMZBUF]]]]
SHU
@C¯NRX@DFHUX@DFX@DFRH\SLÆ
UB©WJEZEEVÁLIBTB©ZPHBWJZPHB©ZPHBTB¸K¸JUBN]
RHMoXDMX@DÄ5X@DX@DF@DHMHU1Z:BDSR@
Â
TBOJ°DBZFOBZPLUBWZPZPHPOJSWJ´´BDFUBT]]]]
#IBHBWBE(²UPage 63 of 179
R+OeÃU@-J@L@23X
U@RU@1MYDS
TBµLBMQBQSBCIBWOLN©TUZBLUWTBSWOB°F¹BUBÁ]
LMR$UDH-¸X@LHUHMX,XRL-SS
Â
NBOBTBJWFOESJZBHSNB©WJOJZBNZBTBNBOUBUBÁ]]]]
YM$YM$kOQLDCATµ@WHSFG(SX@
°BOBJÁ°BOBJSVQBSBNFECVEEIZEI®UJH®I²UBZ]
@3LR2VLMJ3U@MHJH®CHOHB-SXDSÆ
Â
UNBTB©TUIB©NBOBÁL®UWOBLJ¸DJEBQJDJOUBZFU]]]]
XS@DXS@DHMoQHSLMo®KLH2VQLÆ
ZBUPZBUPOJ°DBSBUJNBOB°DB¸DBMBNBTUIJSBN]
SS2SS@DHMX,X$SC@3L-XDUUYMXDSÆ
Â
UBUBTUBUPOJZBNZBJUBEUNBOZFWBWB°B©OBZFU]]]]
eY@-SLMRÐDMX@DHFMRTNLT^LLÆ
QSB°OUBNBOBTB©IZFOB©ZPHJOB©TVLIBNVUUBNBN]
O$HSY@-SQIRg|Ã4SLJ+LLÆ
Â
VQBJUJ°OUBSBKBTB©CSBINBCIÄUBNBLBMNB¹BN]]]]
XTºDURC@3L@MX@DF(HUFSJ+L
ZV¸KBOOFWB©TBEUNOB©ZPH²WJHBUBLBMNB¹BÁ]
RTNDMg|R2OY1L3X-SRTNLqTSD
Â
TVLIFOBCSBINBTB©TQBS°BNBUZBOUB©TVLIBNB°OVUF]]]]
#IBHBWBE(²UPage 64 of 179
RU1Ã4S2VL@3L@MRU1Ã4S@HMB@3LHM
TBSWBCIÄUBTUIBNUNOB©TBSWBCIÄUOJDUNBOJ]
<SDX@DFXTÄ@3L@RU1`RLCY1M
Â
²L¹BUFZPHBZVLUUNTBSWBUSBTBNBEBS°BOBÁ]]]]
X@DL@O9XHSRU1`RUBLHXO9XHS
ZPN©QB°ZBUJTBSWBUSBTBSWB©DBNBZJQB°ZBUJ]
S2X@GMe:9X@HLRBLDMe:9XHS
Â
UBTZIB©OBQSB´B°ZNJTBDBNFOBQSB´B°ZBUJ]]]]
RU1Ã4SH2VSX@DL@ÃI3XDJ3UL@H2VS
TBSWBCIÄUBTUIJUB©ZPN©CIBKBUZFLBUWBNTUIJUBÁ]
RU1V@US1L@M@DHORX@DF(LHXUS1SD
Â
TBSWBUIWBSUBNOPQJTBZPH²NBZJWBSUBUF]]]]
@3L@$O,XDMRU1`RLO9XHSX@DIT1M
UNBVQBNZFOBTBSWBUSBTBNB©QB°ZBUJZPSKVOB]
RTNU@XHCU@¯NRX@DF(OQL@DLS
Â
TVLIB©WZBEJWEVÁLIB©TBZPH²QBSBNPNBUBÁ]]]]
#IBHBWBE(²UPage 65 of 179
IT1MU@B
BSKVOBVWDB]
X@DXX@DF23UX@e@DÄR@,XDMLWTR4CM
ZPZB©ZPHBTUWBZQSPLUBÁTNZFOBNBEIVTÄEBOB]
S2X@GMO9X@HLB®K3U@H32VHSH2VQ@LÆ
Â
FUBTZIB©OBQB°ZNJDB¸DBMBUWUTUIJUJ©TUIJSN]]]]
B®KHGLMJ:eL@HVAKUC}%LÆ
DB¸DBMB©IJNBOBÁL®¹´BQSBNUIJCBMBWBEE®ºIBN]
S2X@GHMGL-XDU@X@DHQURT¯JQLÆ
Â
UBTZIB©OJHSBIB©NBOZFWZPSJWBTVEV¹LBSBN]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
RYXLG@A@G@DLM@D¯HM1GBKLÆ
BTB©°BZB©NBICIPNBOPEVSOJHSBIB©DBMBN]
>X@RDMSTJ@$-SDXU$Q@&XD:BFÐSD
Â
BCIZTFOBUVLBVOUFZBWBJSHZF´BDBH®IZBUF]]]]
RXS@3LM@X@DF@D¯e@OÅHSLDLHS
BTB©ZBUUNBOZPHPEV¹QSQBJUJNFNBUJÁ]
U9X@3LM@STXSS@Y*X@DU@ÏTLTO@XS
Â
WB°ZUNBOUVZBUBU°BLZPWQUVNVQZBUBÁ]]]]
#IBHBWBE(²UPage 66 of 179
IT1MU@B
BSKVOBVWDB]
XHSrµX@DODS@DX@DF@×HKSL@MR
BZBUJÁ°SBEEIBZPQFUPZPHDDBMJUBNOBTBÁ]
e@/XX@DFRHRHµJ@FHSJ:F"#HS
Â
BQSQZBZPHBTB©TJEEIJ©L©HBUJ©L®¹´BHBDDIBUJ]]]]
JH׺@DÃXHUuH9#º@HLUM9XHS
LBDDJOOPCIBZBWJCISB¹¾B°DIJOOCISBNJWBOB°ZBUJ]
eHSt@DLG@A@G@DHUL4%@Dg|:OHV
Â
BQSBUJ¹¾IPNBICIPWJNĺIPCSBINB´BÁQBUIJ]]]]
S-LDRYXJ:#D^TLG12XYDS
FUBONFTB©°BZB©L®¹´BDIFUUVNBSIBTZB°F¹BUBÁ]
3UC-XRYX2X@2X#D^@MÐTOO
SD
Â
UWBEBOZBÁTB©°BZBTZTZBDIFUUOBIZVQBQBEZBUF]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
O@V1M$UDGM@LT`HUM@Y2S2XHU
SD
QSUIBOBJWFIBONVUSBWJO°BTUBTZBWJEZBUF]
MHGJ+X@:J3JHoC¯F1HSS@SF"#HS
Â
OBIJLBMZ´BL®ULB°DJEEVSHBUJ©UUBHBDDIBUJ]]]]
#IBHBWBE(²UPage 67 of 179
e@/XOTZXJS@K@DJ@MTH3U@Y@sS(RL@
QSQZBQV´ZBL®U©MPLOV¹JUW°°WBU²ÁTBNÁ]
YTB(M@r(LS@FDGDX@DFu@DHÃI@XSD
Â
°VD²O©°S²NBU©HFIFZPHBCISB¹¾PCIJKZBUF]]]]
VU@X@DHFM@LDUJKDÃUHSW(LS@LÆ
BUIBWZPHJONFWBLVMFCIBWBUJEI²NBUN]
SHµ¯K1ÃSQK@DJDI-LXC(}YLÆ
Â
FUBEEIJEVSMBCIBUBSB©MPLFKBONBZBE²E®°BN]]]]
S`SATHµRX@DFKÃSDO@$U1CDHGJLÆ
UBUSBUB©CVEEIJTB©ZPHB©MBCIBUFQBVSWBEFIJLBN]
XSSDBSS@DÃ4XRHRµ@$JkM-CM
Â
ZBUBUFDBUBUPCIÄZBÁTB©TJEEIBVLVSVOBOEBOB]]]]
O4U@1>X@RDMSDM$UH¥XSDÐUY@DHOR
QÄSWCIZTFOBUFOBJWBISJZBUFIZBWB°PQJTBÁ]
HI\@RTQHOX@DF2XY!Cg|@HSUS1SD
Â
KJK¸TVSBQJZPHBTZB°BCEBCSBINUJWBSUBUF]]]]
eX@
SL@M2STX@DF(RYTµHJH+A
QSBZBUOEZBUBNOBTUVZPH²TB©°VEEIBLJMCJ¹BÁ]
MDJI-LRHRµ2SS@DX@HSOQ@FHSLÆ
Â
BOFLBKBONBTB©TJEEIBTUBUPZUJQBS©HBUJN]]]]
#IBHBWBE(²UPage 68 of 179
SOH2U>X@DHWJ@DX@DF(\@HM>X@DHOLS@DHWJ
UBQBTWJCIZPEIJLPZPH²K¸OJCIZPQJNBUPEIJLBÁ]
JHL1>Xo@HWJ@DX@DF(S2L@
@DF(ÃU@IT1M
Â
LBSNJCIZB°DEIJLPZPH²UBTNEZPH²CIBWSKVOB]]]]
X@DHFM@LHORUD1@L¶SDM@-SQ@3LM@
ZPHJONBQJTBSWF¹©NBEHBUFOOUBSUNBO]
rµ@U@-ÃISDX@DL@RLDXTÄSL@DLS
Â
°SBEEIWOCIBKBUFZPN©TBNFZVLUBUBNPNBUBÁ]]]]
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
@3LRXLX@DF@DM@Lt@D7X@X
UNBTB©ZBNBZPHPONB¹B¹¾IPEIZZBÁ]]]]
#IBHBWBE(²UPage 69 of 179
VRÏL@D7X@X
BUIBTBQUBNPEIZZBÁ
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
L8X@RÄLM@O@V1X@DFXT-LC@rX
NBZZTBLUBNBOÁQSUIBZPHB©ZV¸KBONBE°SBZBÁ]
RYXRLL@XV@\@2XHRS"#:T
Â
BTB©°BZB©TBNBHSB©N©ZBUIK¸TZBTJUBDDI®´V]]]]
\@MSDGRHU\@MHLCUyX@,XYDS
K¸OB©UFIB©TBWJK¸OBNJEB©WBL¹ZNZB°F¹BUBÁ]
X)\@3U@MDGÃ4X@D-X)\@S5XLUHYXSD
Â
ZBKK¸UWOFIBCIÄZPOZBKK¸UBWZBNBWB°J¹ZBUF]]]]
LMTX@:@RGwDTJHo
SHSHRµXD
NBOV¹Z´©TBIBTSF¹VLB°DJEZBUBUJTJEEIBZF]
XSS@LHOHRµ@M@JHo-L@UDH^S_US
Â
ZBUBUNBQJTJEEIO©LB°DJON©WFUUJUBUUWBUBÁ]]]]
#IBHBWBE(²UPage 70 of 179
Ã4HLQ@O@DMK@DU@XTNLM@DATHµQDUB
CIÄNJSQPOBMPWZVÁLIB©NBOPCVEEIJSFWBDB]
GJ@QÅS(XLDHú@eJHSQuW@
Â
BIBµLSBJU²ZB©NFCIJOOQSBL®UJSB¹¾BEI]]]]
OQDXHLS23U-X@eJHSHUHµLDOQ@LÆ
BQBSFZBNJUBTUWBOZ©QSBL®UJ©WJEEIJNFQBSN]
I(UÃ4S@LG@A@G@DXXDCW@X1SDIFSÆ
Â
K²WBCIÄU©NBICIPZBZFEB©EISZBUFKBHBU]]]]
S
@DM(HMÃ4S@HMRU@1:(3XTOW@QX
FUBEZPO²OJCIÄUOJTBSW´²UZVQBEISBZB]
GJ3x2XIFSeÃUeKX2SV@
Â
BIB©L®UTOBTZBKBHBUBÁQSBCIBWBÁQSBMBZBTUBUI]]]]
L^OQSQM@-XH3JH®CH2SWMX
NBUUBÁQBSBUBSB©OOZBULJ¸DJEBTUJEIBOB¸KBZB]
LHXRU1HLCe@DSR4`DLH:F:@ÅU
Â
NBZJTBSWBNJEB©QSPUB©TÄUSFNB´JHB´JWB]]]]
QR@DGL/RTJ@$-SDXeÃ@H2LYHYR4X1X@D
SBTPIBNBQTVLBVOUFZBQSBCITNJ°B°JTÄSZBZPÁ]
e:URU1UDCDTY!CNDO@$kMT
Â
QSB´BWBÁTBSWBWFEF¹V°BCEBÁLIFQBVSV¹B©O®¹V]]]]
#IBHBWBE(²UPage 71 of 179
OTZX@DF-WOHV5X@BSDIo@H2LHUÃ@UR@$
QV´ZPHBOEIBÁQ®UIJWZ©DBUFKB°DTNJWJCIWBTBV]
I(UMRU1Ã4SDTSOo@H2LSOH2UT
Â
K²WBOB©TBSWBCIÄUF¹VUBQB°DTNJUBQBTWJ¹V]]]]
A(IL@RU1Ã4S@M@HUHµO@V1RM@SMLÆ
C²KB©N©TBSWBCIÄUO©WJEEIJQSUIBTBOUBOBN]
ATHµAT1HµLS@LH2LSDI2SDIH2UM@LGLÆ
Â
CVEEIJSCVEEIJNBUNBTNJUFKBTUFKBTWJONBIBN]]]]
AKAKUS@B@GJ@LQ@FHUUHI1SLÆ
CBMB©CBMBWBU©DIB©LNBSHBWJWBSKJUBN]
WL@1HUkµ@DÃ4SDTJ@L@DH2LÃQS1Ã
Â
EIBSNWJSVEEIPCIÄUF¹VLNPTNJCIBSBUBS¹BCIB]]]]
XDB$UR@H_UJ@Ã@U@Q@IR@2S@LR@oXD
ZFDBJWBTUUWJLCIWSKBTTUNBT°DBZF]
L^UDHSS@H-UHµM3UGSDTSDLHX
Â
NBUUBFWFUJUOWJEEIJOBUWBIB©UF¹VUFNBZJ]]]]
H`HÃFT1:LX$Ã@1U$QDHÃRU1HLCIFSÆ
USJCIJSHV´BNBZBJSCIWBJSFCIJÁTBSWBNJEB©KBHBU]
L@DHGSM@HÃI@M@HSL@LD>XOQL5XXLÆ
Â
NPIJUB©OCIJKOUJNNFCIZBÁQBSBNBWZBZBN]]]]
#IBHBWBE(²UPage 72 of 179
C$U(ÐD@FT:LX(LLL@X@¯Q3XX@
EBJW²IZF¹HV´BNBZ²NBNBNZEVSBUZBZ]
L@LDUXDeO
-SDL@X@LDS@SQH-SSD
Â
NNFWBZFQSBQBEZBOUFNZNFU©UBSBOUJUF]]]]
ML@¯JHSM@DL4%@eO
-SDMQ@WL@
OBN©EV¹L®UJOPNĺIÁQSBQBEZBOUFOBSEIBNÁ]
BSTHU1W@ÃI-SDL@IM@RTJHSM@DIT1M
DBUVSWJEICIBKBOUFN©KBOÁTVL®UJOPSKVOB]
@S@D1HI\@RTQV@1V(1\@M(BÃQS1Ã
Â
SUPKJK¸TVSBSUISUI²K¸O²DBCIBSBUBS¹BCIB]]]]
SD@\@M(HM3XXTÄJÃHÄHU1HYXSD
UF¹©K¸O²OJUZBZVLUBFLBCIBLUJSWJ°J¹ZBUF]
HeX@DHG\@HMM@D3XV1LGRBLLHeX
Â
QSJZPIJK¸OJOPUZBSUIBNBIB©TBDBNBNBQSJZBÁ]]]]
C@Q@RU1U$SD\@M(3U@3L$ULDLSLÆ
VESÁTBSWBFWBJUFK¸O²UWUNBJWBNFNBUBN]
@H2VSRHGXTÄ@3L@L@LDU@MT^L@FHSLÆ
Â
TUIJUBÁTBIJZVLUUNNNFWOVUUBN©HBUJN]]]]
#IBHBWBE(²UPage 73 of 179
AM@I-LM@L-SD\@MU@-L@eO
SD
CBIÄO©KBONBONBOUFK¸OBWON©QSBQBEZBUF]
U@RTCDURU1HLHSRLG@3L@RT¯K1Ã
Â
WTVEFWBÁTBSWBNJUJTBNBIUNTVEVSMBCIBÁ]]]]
J@L$2S$2S$z1S\@M@eO
-SD-XCDUS@
LNBJTUBJTUBJSI®UBK¸OÁQSBQBEZBOUFOZBEFWBUÁ]
SSHMXLL@2V@XeJ3X@HMXS@2UX@
Â
UB©UB©OJZBNBNTUIZBQSBL®UZOJZBUÁTWBZ]]]]
X@DX@DX@X@SMTÃÄrµX@HB1STHL"#HS
ZPZPZ©Z©UBOV©CIBLUBÁ°SBEEIBZSDJUVNJDDIBUJ]
S2XS2X@BK@rµ@S@LDUHUCW@,XGLÆ
Â
UBTZBUBTZDBM©°SBEEI©UNFWBWJEBEINZBIBN]]]]
RSX@rµX@XTÄ2S2X@Q@WML(GSD
TBUBZ°SBEEIBZZVLUBTUBTZSEIBOBN²IBUF]
KÃSDBSSJ@L@-LX$UHUHGS@H-GS@MÆ
Â
MBCIBUFDBUBUBÁLNONBZBJWBWJIJUOIJUO]]]]
-SU^T KSD@SaU3X+OLDWR@LÆ
BOUBWBUUVQIBMB©UF¹©UBECIBWBUZBMQBNFEIBTN]
CDU@-CDUXI@DX@H-SLaÄ@X@H-SL@LHO
Â
EFWOEFWBZBKPZOUJNBECIBLUZOUJNNBQJ]]]]
#IBHBWBE(²UPage 74 of 179
5XÄ5XHÄL@OºL-X-SDL@LATµX
BWZBLUB©WZBLUJNQBOOB©NBOZBOUFNNBCVEEIBZBÁ]
OQÃ@ULI@M-S@DLL@5XXLMT^LLÆ
Â
QBSB©CIWBNBKOBOUPNBNWZBZBNBOVUUBNBN]]]]
M@GeJ@YRU12XX@DFL@X@RL@US
OIB©QSBL°BÁTBSWBTZBZPHBNZTBNW®UBÁ]
L4%@DXM@HÃI@M@HSK@DJ@DL@LIL5XXLÆ
Â
NĺIPZB©OCIJKOUJMPLPNNBKBNBWZBZBN]]]]
UDC@GRLS(S@HMUS1L@M@HMB@IT1M
WFEIB©TBNBU²UOJWBSUBNOOJDSKVOB]
ÃHUX@H:BÃ4S@HML@STUDCMJoM
Â
CIBWJ¹Z´JDBCIÄUOJN©UVWFEBOBLB°DBOB]]]]
Å"#@bDRLT3VDMb-bL@DGDMÃ@QS
JDDIEWF¹BTBNVUUIFOBEWBOEWBNPIFOBCISBUB]
RU1Ã4S@HMR,L@DGRFD1X@H-SOQ-SO
Â
TBSWBCIÄUOJTBNNPIB©TBSHFZOUJQBSBOUBQB]]]]
XD@3U-SFSO@OIM@M@OTZXJL1:@LÆ
ZF¹©UWBOUBHBUB©QQB©KBOO©QV´ZBLBSNB´N]
SDb-bL@DGHMLT1Ä@ÃI-SDL@}%pS@
Â
UFEWBOEWBNPIBOJSNVLUCIBKBOUFN©E®ºIBWSBUÁ]]]]
#IBHBWBE(²UPage 75 of 179
IQ@LQ:L@D<@XL@L@Hr3XXSH-SXD
KBSNBSB´BNPL¹ZBNN°SJUZBZBUBOUJZF]
SDg|SHb¯J3xL7X@3LJL1B@HNKLÆ
Â
UFCSBINBUBEWJEVÁL®UTOBNBEIZUNB©LBSNBDLIJMBN]]]]
R@HWÃ4S@HWC$UL@R@HWX\BXDHU¯
TEIJCIÄUEIJEBJWB©N©TEIJZBK¸B©DBZFWJEVÁ]
eX@:J@KDHOBL@SDHU¯XT1ÄBDSR
Â
QSBZ´BLMFQJDBN©UFWJEVSZVLUBDFUBTBÁ]]]]
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
\@MHU\@MX@DF@DM@LRÏL@D7X@X
K¸OBWJK¸OBZPHPONBTBQUBNPEIZZBÁ]]]]
#IBHBWBE(²UPage 76 of 179
V uL@D7X@X
BUIBB¹¾BNPEIZZBÁ
IT1MU@B
BSKVOBVWDB]
HJSCg|HJL7X@3LHJJL1OTk@D^L
LJ©UBECSBINBLJNBEIZUNB©LJ©LBSNBQVSV¹PUUBNB]
HWÃ4SBHJe@DÄLHWC$UHJLT"XSD
Â
BEIJCIÄUB©DBLJ©QSPLUBNBEIJEBJWB©LJNVDZBUF]]]]
HWX\JVJ@D`CDGDH2L-LWTR4CM
BEIJZBK¸BÁLBUIB©LPUSBEFIFTNJONBEIVTÄEBOB]
eX@:J@KDBJV\DX@DHRHMXS@3LHÃ
Â
QSBZ´BLMFDBLBUIB©K¸FZPTJOJZBUUNBCIJÁ]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
<Qg|OQL2UÃ@U@D7X@3LLT"XSD
BL¹BSB©CSBINBQBSBNB©TWBCIWPEIZUNBNVDZBUF]
Ã4SÃ@U@DaUJQ@DHURF1JL1RH\S
Â
CIÄUBCIWPECIBWBLBSPWJTBSHBÁLBSNBTB¸K¸JUBÁ]]]]
#IBHBWBE(²UPage 77 of 179
HWÃ4S<Q@DÃ@UOTko@HWC$USLÆ
BEIJCIÄUB©L¹BSPCIWBÁQVSV¹B°DEIJEBJWBUBN]
HWX\@DGLDU@`CDGDCDGÃS@UQ
Â
BEIJZBK¸PIBNFWUSBEFIFEFIBCI®U©WBSB]]]]
-SJ@KDBL@LDU2LQ-LT
U@JKDUQLÆ
BOUBLMFDBNNFWBTNBSBONVLUWLBMFWBSBN]
XeX@HSRLa@UX@HSM@23X`RYX
Â
ZBÁQSBZUJTBNBECIWB©ZUJOTUZBUSBTB©°BZBÁ]]]]
XXU@HO2LQ-Ã@U3XI3X-SDJKDUQLÆ
ZB©ZB©WQJTNBSBOCIWB©UZBKBUZBOUFLBMFWBSBN]
SSLDU$HSJ@$-SDXRC@Sa@UÃ@HUS
Â
UB©UBNFWBJUJLBVOUFZBTBEUBECIWBCIWJUBÁ]]]]
S2L@3RUD1TJ@KDTL@LMT2LQXT7XB
UBTNUTBSWF¹VLMF¹VNNBOVTNBSBZVEIZBDB]
>X@RX@DFXTÄDMBDSR@M@-XF@HLM@
BCIZTBZPHBZVLUFOBDFUBTOOZBHNJO]
OQLOTkHC5XX@HSO@V@1MTHB-SXMÆ
Â
QBSBNB©QVSV¹B©EJWZB©ZUJQSUIOVDJOUBZBO]]]]
#IBHBWBE(²UPage 78 of 179
JHUOTQ@:LMTY@HRS@Q
LBWJ©QVS´BNBOV°TJUSB©
:@DQ:(XRLMT2LQD
B´PSB´²ZB©TBNBOVTNBSFEZBÁ]
RU12XW@S@QLHB-3XmO
TBSWBTZBEIUSBNBDJOUZBSÄQB©
eX@:J@KDLMR@BKDM
QSBZ´BLMFNBOBTDBMFOB
Ã
X@XTÄ@DX@DFAKDMB$U
CIBLUZZVLUPZPHBCBMFOBDBJWB]
TU@DL17XDe@:L@UD9XR,XJ
CISVWPSNBEIZFQS´BNWF°ZBTBNZBL
RSOQOTkLTO$HSHC5XLÆ
Â
TBUB©QBSB©QVSV¹BNVQBJUJEJWZBN]]]]
XC<QUDCHUC@DUCH-S
ZBEBL¹BSB©WFEBWJEPWBEBOUJ
HUYH-SX
SX@DU(SQ@F@
WJ°BOUJZBEZBUBZPW²UBSHÁ]
#IBHBWBE(²UPage 79 of 179
XHC"#-S@Dg|BXBQH-S
ZBEJDDIBOUPCSBINBDBSZB©DBSBOUJ
S^DOCRGD:eUyXD
Â
UBUUFQBEB©TBµHSBIF´BQSBWBL¹ZF]]]]
RU1b@Q@H:RX,XLM@DzHCHMk7XB
TBSWBEWS´JTB©ZBNZBNBOPI®EJOJSVEIZBDB]
L47-X@1W@X@3LMe@:L@H2VS@DX@DFW@Q:@LÆ
Â
NÄEIOZSEIZUNBOBÁQS´BNTUIJUPZPHBEISB´N]]]]
@DHL3XDJ@<Qg|5X@GQ-L@LMT2LQMÆ
PNJUZFLL¹BSB©CSBINBWZIBSBONNBOVTNBSBO]
XeX@HS3XI-CDGRX@HSOQL@FHSLÆ
Â
ZBÁQSBZUJUZBKBOEFIB©TBZUJQBSBN©HBUJN]]]]
M-XBDS@RSSX@DL@2LQHSHM3XY
BOBOZBDFUÁTBUBUB©ZPN©TNBSBUJOJUZB°BÁ]
S2X@GRTKÃO@V1HM3XXTÄ2XX@DHFM
Â
UBTZIB©TVMBCIBÁQSUIBOJUZBZVLUBTZBZPHJOBÁ]]]]
L@LTOD3XOTMI1-L¯N@KXLY@sSLÆ
NNVQFUZBQVOBSKBONBEVÁLIMBZBNB°°WBUBN]
M@TUH-SLG@3L@MRHRHµOQL@FS@
Â
OQOVWBOUJNBIUNOBÁTB©TJEEIJ©QBSBN©HBUÁ]]]]
#IBHBWBE(²UPage 80 of 179
@g|ÃTUM@¢@DJ@OTMQ@UHS1M@DIT1M
CSBINBCIVWBOMMPLÁQVOBSWBSUJOPSKVOB]
L@LTOD3XSTJ@$-SDXOTMI1-LMHU
SD
Â
NNVQFUZBUVLBVOUFZBQVOBSKBONBOBWJEZBUF]]]]
RGwXTFOX1-SLGX1Cg|:@DHU¯
TBIBTSBZVHBQBSZBOUBNBIBSZBECSBINB´PWJEVÁ]
Q@H`XTFRGw@-S@SDG@DQ@`HUC@DIM@
Â
SUSJ©ZVHBTBIBTSOU©UFIPSUSBWJEPKBOÁ]]]]
5XÄ@C5XÄXRU@1eÃU-3XGQ@FLD
BWZBLUEWZBLUBZBÁTBSWÁQSBCIBWBOUZBIBSHBNF]
Q@²X@FLDeK(X-SDS`$U@5XÄR\JD
Â
SUSZHBNFQSBM²ZBOUFUBUSBJWWZBLUBTB¸K¸BLF]]]]
Ã4S@LRU@XÃ43U@Ã43U@eK(XSD
CIÄUBHSNBÁTBFWZB©CIÄUWCIÄUWQSBM²ZBUF]
Q@²X@FLDUYO@V1eÃU3XGQ@FLD
Â
SUSZHBNFWB°BÁQSUIBQSBCIBWBUZBIBSHBNF]]]]
OQ2S2L@^TÃ@U@D-X@D5XÄ@D5XÄ@3RM@SM
QBSBTUBTNUUVCIWPOZPWZBLUPWZBLUUTBOUBOBÁ]
XRRUD1TÃ4SDTM9X3RTMHUM9XHS
Â
ZBÁTBTBSWF¹VCIÄUF¹VOB°ZBUTVOBWJOB°ZBUJ]]]]
#IBHBWBE(²UPage 81 of 179
5XÄ@D<QÅ3XTÄ2SL@¤OQL@FHSLÆ
BWZBLUPL¹BSBJUZVLUBTUBNIVÁQBSBN©HBUJN]
Xe@/XMHMUS1-SDSµ@LOQLLL
Â
ZB©QSQZBOBOJWBSUBOUFUBEEINBQBSBNB©NBNB]]]]
OTkROQO@V1Ã
X@K>X23UM-XX@
QVSV¹BÁTBQBSBÁQSUIBCIBLUZMBCIZBTUWBOBOZBZ]
X2X@-S2V@HMÃ4S@HMXDMRU1HLCSSLÆ
Â
ZBTZOUBÁTUIOJCIÄUOJZFOBTBSWBNJEB©UBUBN]]]]
X`J@KD3UM@UH^L@UH^B$UX@DHFM
ZBUSBLMFUWBOW®UUJNW®UUJ©DBJWBZPHJOBÁ]
eX@S@X@H-SSJ@KUyX@HLÃQS1Ã
Â
QSBZUZOUJUB©LMB©WBL¹ZNJCIBSBUBS¹BCIB]]]]
HI@D1HSQGYTZL@R@^Q@X:LÆ
BHOJSKPUJSBIBÁ°VLMBÁ¹B´NTVUUBSZB´BN]
S`eX@S@F"#H-Sg|g|HUC@DIM@
Â
UBUSBQSBZUHBDDIBOUJCSBINBCSBINBWJEPKBOÁ]]]]
W4L@DQ@H`2SV@J:ZL@R@CH<:@XMLÆ
EIÄNPSUSJTUBUIL®¹´BÁ¹B´NTEBL¹J´ZBOBN]
S`B@-¸LR)X@DHSX@D1F(e@/XHMUS1SD
Â
UBUSBDOESBNBTB©KZPUJSZPH²QSQZBOJWBSUBUF]]]]
#IBHBWBE(²UPage 82 of 179
YTJ:DFS(ÐDSDIFSY@sSDLSD
°VLMBL®¹´FHBU²IZFUFKBHBUBÁ°°WBUFNBUF]
JX@X@3XM@UH^L-XX@US1SDOTM
Â
FLBZZUZBOW®UUJNBOZBZWBSUBUFQVOBÁ]]]]
M$SDRS(O@V1I@M-X@DF(LTÐHSJoM
OBJUFT®U²QSUIBKOBOZPH²NVIZBUJLB°DBOB]
S2L@3RUD1TJ@KDTX@DFXTÄ@DÃU@IT1M
Â
UBTNUTBSWF¹VLMF¹VZPHBZVLUPCIBWSKVOB]]]]
UDCDTX\DTSORTB$U
WFEF¹VZBK¸F¹VUBQBÁTVDBJWB
C@MDTX3OTZX KeHCuLÆ
EOF¹VZBUQV´ZBQIBMB©QSBEJ¹¾BN]
3XDHSS3RU1HLCHUHC3U@
BUZFUJUBUTBSWBNJEB©WJEJUW
X@DF(OQ2V@MLTO$HSB@
LÆ
Â
ZPH²QBSB©TUIOBNVQBJUJDEZBN]]]]
#IBHBWBE(²UPage 83 of 179
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
<Qg|X@DF@DM@L@uL@D7X@X
BL¹BSBCSBINBZPHPON¹¾BNPEIZZBÁ]]]]
#IBHBWBE(²UPage 84 of 179
VMUL@D7X@X
BUIBOBWBNPEIZZBÁ
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
ÅCSTSDFTÐSLeUyX@,XMR4XUD
JEB©UVUFHVIZBUBNB©QSBWBL¹ZNZBOBTÄZBWF]
\@MHU\@MRHGSX)\@3U@L@DyXRDYTÃ@SÆ
Â
K¸OB©WJK¸OBTBIJUB©ZBKK¸UWNPL¹ZBTF°VCIU]]]]
Q@IHU
@Q@IFTÐOHU`HLCLT^LLÆ
SKBWJEZSKBHVIZB©QBWJUSBNJEBNVUUBNBN]
e3X<@UFLW,XRTRTNJST1L5XXLÆ
Â
QSBUZBL¹WBHBNB©EIBSNZB©TVTVLIB©LBSUVNBWZBZBN]]]]
r´W@M@OTk@WL12X@2XOQ-SO
B°SBEEBEIOÁQVSV¹EIBSNBTZTZBQBSBOUBQB]
e@/XL@HMUS1-SDL3XTRR@QU3L1HM
Â
BQSQZBN©OJWBSUBOUFN®UZVTB©TSBWBSUNBOJ]]]]
#IBHBWBE(²UPage 85 of 179
LX@SSHLCRUIFC5XÄL4HS1M@
NBZUBUBNJEB©TBSWB©KBHBEBWZBLUBNÄSUJO]
L32V@HMRU1Ã4S@HMMB@GSDUUH2VS
Â
NBUTUIOJTBSWBCIÄUOJOBDIB©UF¹WBWBTUIJUBÁ]]]]
MBL32V@HMÃ4S@HMO9XLDX@DFL$sQLÆ
OBDBNBUTUIOJCIÄUOJQB°ZBNFZPHBNBJ°WBSBN]
Ã4SúBÃ4S2V@DLL@3L@Ã4SÃ@UM
Â
CIÄUBCI®OOBDBCIÄUBTUIPNBNUNCIÄUBCIWBOBÁ]]]]
XV@J@YH2VS@DHM3XU@XTRU1`F@DLG@MÆ
ZBUIL°BTUIJUPOJUZB©WZVÁTBSWBUSBHPNBIO]
SV@RU@1H:Ã4S@HML32V@M(3XTOW@QX
Â
UBUITBSW´JCIÄUOJNBUTUIO²UZVQBEISBZB]]]]
RU1Ã4S@HMJ@$-SDXeJHSX@H-SL@HLJ@LÆ
TBSWBCIÄUOJLBVOUFZBQSBL®UJ©ZOUJNNJLN]
J+O<XDOTM2S@HMJ+O@C@$HURI@,XGLÆ
Â
LBMQBL¹BZFQVOBTUOJLBMQEBVWJT®KNZBIBN]]]]
eJHS2U@LUu>XHURI@HLOTMOTM
QSBL®UJ©TWNBWB¹¾BCIZBWJT®KNJQVOBÁQVOBÁ]
Ã4S@LHLLJ3xLUYeJSDU1Y@SÆ
Â
CIÄUBHSNBNJNB©L®UTOBNBWB°B©QSBL®UFSWB°U]]]]
#IBHBWBE(²UPage 86 of 179
MBL@S@HMJL@1H:HMAÓH-SWMX
OBDBN©UOJLBSN´JOJCBEIOBOUJEIBOB¸KBZB]
C@R(MUC@R(MLRÄSDTJL1RT
Â
VET²OBWBET²OBNBTBLUB©UF¹VLBSNBTV]]]]
LX@7X<D:eJHSR4XSDRBQ@BQLÆ
NBZEIZBL¹F´BQSBL®UJÁTÄZBUFTBDBSDBSBN]
GDSTM@MDMJ@$-SDXIFHbOHQUS1SD
Â
IFUVOOFOBLBVOUFZBKBHBEWJQBSJWBSUBUF]]]]
UI@MH-SL@L4%@L@MT(SMTL@HrSLÆ
BWBKOBOUJN©NĺINOV¹²©UBOVN°SJUBN]
OQÃ@ULI@M-S@DLLÃ4SLGDsQLÆ
Â
QBSB©CIWBNBKOBOUPNBNBCIÄUBNBIF°WBSBN]]]]
L@DÇ@Y@L@DÇJL@1:@DL@DÇ\@M@HUBDSR
NPHI°NPHIBLBSN´PNPHIBK¸OWJDFUBTBÁ]
Q@<R(L@RTQ(B$UeJHSL@DHGM(HrS@
Â
SL¹BT²NTVS²©DBJWBQSBL®UJ©NPIJO²©°SJUÁ]]]]
LG@3L@M2STL@O@V1C$U(eJHSL@HrS@
NBIUNOBTUVN©QSUIBEBJW²©QSBL®UJN°SJUÁ]
ÃI-3XM-XLMR@D\@3U@Ã4S@HCL5XXLÆ
Â
CIBKBOUZBOBOZBNBOBTPK¸UWCIÄUEJNBWZBZBN]]]]
#IBHBWBE(²UPage 87 of 179
RSSJ(S1X-S@DL@XS-So}%pS@
TBUBUB©L²SUBZBOUPN©ZBUBOUB°DBE®ºIBWSBUÁ]
ML2X-SoL@Ã
X@HM3XXTÄ@O@RSD
Â
OBNBTZBOUB°DBN©CIBLUZOJUZBZVLUVQTBUF]]]]
\@MX\DMB@/X-XDXI-S@DL@LTO@RSD
K¸OBZBK¸FOBDQZBOZFZBKBOUPNNVQTBUF]
J3UDMOV
UDMA¤W@HUsS@DLTNLÆ
Â
FLBUWFOBQ®UIBLUWFOBCBIVEIWJ°WBUPNVLIBN]]]]
GÖSTQGX\2UW@GLGL@$WLÆ
BIB©LSBUVSBIB©ZBK¸BÁTWBEIIBNBIBNBV¹BEIBN]
L¼@DGLGLDU@)XLGLHQG¤SLÆ
Â
NBOUSPIBNBIBNFWKZBNBIBNBHOJSBIB©IVUBN]]]]
HOS@GL2XIFS@DL@S@W@S@HOS@LG
QJUIBNBTZBKBHBUPNUEIUQJUNBIBÁ]
UD
OHU`L@DJ@Q;*R@LXITQDUB
Â
WFEZB©QBWJUSBNPµLSB®LTNBZBKVSFWBDB]]]]
FHSÃ1S@1eÃTR@<(HMU@RYQ:RTzSÆ
HBUJSCIBSUQSBCIVÁTL¹²OJWTBÁ°BSB´B©TVI®U]
eÃUeKX2V@MHMW@MA(IL5XXLÆ
Â
QSBCIBWBÁQSBMBZBÁTUIOB©OJEIOB©C²KBNBWZBZBN]]]]
#IBHBWBE(²UPage 88 of 179
SO@,XGLGUHMF¦@,XT3RI@HLB
UBQNZBIBNBIB©WBS¹B©OJH®I´NZVUT®KNJDB]
LSB$UL3XToRCR×@GLIT1M
Â
BN®UB©DBJWBN®UZV°DBTBEBTBDDIBNBSKVOB]]]]
`$HU
@L@R@DLO@O4SO@O@
USBJWJEZN©TPNBQÁQÄUBQQ
X\$HQPU@2UF1HSe@V1X-SD
ZBK¸BJSJ¹¾WTWBSHBUJ©QSSUIBZBOUF]
SDOTZXL@R@
RTQD-¸K@DJ
UFQV´ZBNTEZBTVSFOESBMPLB©
SDSÃT
U@2UF1K@DJHUY@K
UFUB©CIVLUWTWBSHBMPLB©WJ°MB©
<(:DOTZXDL3X1K@DJHUYH-S
L¹²´FQV´ZFNBSUZBMPLB©WJ°BOUJ]
U`X(WL1LMTeOº@
FWB©USBZ²EIBSNBNBOVQSBQBOO
FS@FSJ@LJ@L@KÃ-SD
Â
HBUHBUB©LNBLNMBCIBOUF]]]]
#IBHBWBE(²UPage 89 of 179
M-X@Ho-SX-S@DL@XDIM@OXT1O@RSD
BOBOZ°DJOUBZBOUPN©ZFKBOÁQBSZVQTBUF]
SD@HM3X@HÃXTÄ@M@X@DF<DLUG@,XGLÆ
Â
UF¹©OJUZCIJZVLUO©ZPHBL¹FNB©WBINZBIBN]]]]
XD/X-XCDUS@ÃÄ@XI-SDrµX@H-US@
ZFQZBOZBEFWBUCIBLUZBKBOUF°SBEEIBZOWJUÁ]
SDHOL@LDUJ@$-SDXXI-3XHUHWO4U1JLÆ
Â
UFQJNNFWBLBVOUFZBZBKBOUZBWJEIJQÄSWBLBN]]]]
GHGRU1X\@M@Ã@DÄ@BeÃTQDUB
BIB©IJTBSWBZBK¸O©CIPLUDBQSBCIVSFWBDB]
MSTL@LHÃI@MH-SS_UDM@S9"XUH-SSD
Â
OBUVNNBCIJKOBOUJUBUUWFOUB°DZBWBOUJUF]]]]
X@H-SCDUpS@CDU@H-OS-X@H-SHOSpS@
ZOUJEFWBWSBUEFWOQJU±OZOUJQJU®WSBUÁ]
Ã4S@HMX@H-SÃ4SD)X@X@H-SL
@HIM@DHOL@LÆ
Â
CIÄUOJZOUJCIÄUFKZZOUJNBEZKJOPQJNN]]]]
O`OTO KS@DXX@DLDÃ
X@eX"#HS
QBUSB©QV¹QB©QIBMB©UPZB©ZPNFCIBLUZQSBZBDDIBUJ]
SCGÃ
XTOzSLq@HLeXS@3LM
Â
UBEBIB©CIBLUZVQBI®UBNB°ONJQSBZBUUNBOBÁ]]]]
#IBHBWBE(²UPage 90 of 179
X3JQ@DHXCq@HRXÙTG@DHCC@HRXSÆ
ZBULBSP¹JZBEB°OTJZBKKVIP¹JEBETJZBU]
X^O2XHRJ@$-SDXS3JkULCO1:LÆ
Â
ZBUUBQBTZBTJLBVOUFZBUBULVSV¹WBNBEBSQB´BN]]]]
YTÃ@YTÃ K$QDUL@DyXRDJL1A-WM$
°VCI°VCIBQIBMBJSFWB©NPL¹ZBTFLBSNBCBOEIBOBJÁ]
R-X@RX@DFXTÄ@3L@HULTÄ@DL@LTO$XHR
Â
TBOOZTBZPHBZVLUUNWJNVLUPNNVQBJ¹ZBTJ]]]]
RL@DGRU1Ã4SDTMLDbDX@DH2SMHeX
TBNPIB©TBSWBCIÄUF¹VOBNFEWF¹ZPTUJOBQSJZBÁ]
XDÃIH-SSTL@Ã
X@LHXSDSDTB@/XGLÆ
Â
ZFCIBKBOUJUVN©CIBLUZNBZJUFUF¹VDQZBIBN]]]]
HOBD3RT¯Q@B@Q@DÃISDL@LM-XÃ@J
BQJDFUTVEVSDSPCIBKBUFNNBOBOZBCIL]
R@WTQDURL-S5XR,X&5XUHRS@DHGR
Â
TEIVSFWBTBNBOUBWZBÁTBNZBHWZBWBTJUPIJTBÁ]]]]
H<eÃUHSWL@13L@Ys"#@H-SHMF"#HS
L¹JQSB©CIBWBUJEIBSNUN°B°WBDDIOUJ©OJHBDDIBUJ]
J@$-SDXeHSI@M(HGMLDÃÄe:9XHS
Â
LBVOUFZBQSBUJKO²IJOBNFCIBLUBÁQSB´B°ZBUJ]]]]
#IBHBWBE(²UPage 91 of 179
L@HGO@V15XO@Hr3XXDHO2XTO@OX@DMX
N©IJQSUIBWZBQ°SJUZBZFQJTZVÁQQBZPOBZBÁ]
HvX@DU$9X@2SV@Y4¸@2SDHOX@H-SOQ@FHSLÆ
Â
TUSJZPWBJ°ZTUBUI°ÄESTUFQJZOUJQBS©HBUJN]]]]
HJOTMg@1|:@OTZX@ÃÄ@Q@I1X2SV@
LJ©QVOBSCSINB´ÁQV´ZCIBLUSKBS¹BZBTUBUI]
HM3XLRTNK@DJHLLe@/XÃI2UL@LÆ
Â
BOJUZBNBTVLIB©MPLBNJNB©QSQZBCIBKBTWBNN]]]]
L-LM@ÃULaÄ@DL
@I(L@ML2Jk
NBONBOCIBWBNBECIBLUPNBEZK²N©OBNBTLVSV]
L@LDU$XHRXT
U$UL@3L@ML3OQ@X:
Â
NNFWBJ¹ZBTJZVLUWBJWBNUNOB©NBUQBSZB´BÁ]]]]
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
Q@IHU
@Q@IFTÐX@DF@DM@LMUL@D7X@X
SKBWJEZSKBHVIZBZPHPONBOBWBNPEIZZBÁ]]]]
#IBHBWBE(²UPage 92 of 179
VCYL@D7X@X
BUIBEB°BNPEIZZBÁ
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
Ã4XULG@A@G@DY:TLDOQLUB
CIÄZBFWBNBICIP°®´VNFQBSBNB©WBDBÁ]
X^DGe(XL@:@XUyX@HLHGSJ@,XX@
Â
ZBUUFIB©QS²ZBN´ZBWBL¹ZNJIJUBLNZBZ]]]]
MLDHU¯RTQF:@eÃUMLG1X
OBNFWJEVÁTVSBHB´ÁQSBCIBWB©OBNBIBS¹BZBÁ]
GL@HCHG1CDU@M@LG(1:@BRU1Y
Â
BIBNEJSIJEFWO©NBIBS¹²´©DBTBSWB°BÁ]]]]
X@DL@LILM@HCBUDH^K@DJLGDsQLÆ
ZPNNBKBNBOEJ©DBWFUUJMPLBNBIF°WBSBN]
R,L4%RL3XD1TRU1O@O$eLT"XSD
Â
BTBNNĺIBÁTBNBSUZF¹VTBSWBQQBJÁQSBNVDZBUF]]]]
#IBHBWBE(²UPage 93 of 179
ATHµ\@1MLR,L@DG<L@R3XCLYL
CVEEIJSK¸OBNBTBNNPIBÁL¹BNTBUZB©EBNBÁ°BNBÁ]
RTN¯NÃU@DÃ@U@DÃXB@ÃXLDUB
Â
TVLIB©EVÁLIB©CIBWPCIWPCIBZB©DCIBZBNFWBDB]]]]
HGR@RLS@STHu2SO@DC@MXY@DXY
BIJ©TTBNBUUV¹¾JTUBQPEOB©ZB°PZB°BÁ]
ÃUH-SÃ@U@Ã4S@M@L^UOVH&UW@
Â
CIBWBOUJCIWCIÄUO©NBUUBFWBQ®UIBHWJEIÁ]]]]
LG1XRÏO4UD1B3U@Q@DLMU2SV@
NBIBS¹BZBÁTBQUBQÄSWFDBUWSPNBOBWBTUBUI]
La@U@L@MR@I@S@XD@K@DJÅL@eI@
Â
NBECIWNOBTKUZF¹©MPLBJNÁQSBKÁ]]]]
S@HUÃ4HSX@DFBLLX@DUDH^S_US
FU©WJCIÄUJ©ZPHB©DBNBNBZPWFUUJUBUUWBUBÁ]
R@DHUJ,ODMX@DFDMXT)XSDM@`RYX
Â
TPWJLBNQFOBZPHFOBZVKZBUFOUSBTB©°BZBÁ]]]]
GRU12XeÃU@DL^RUeUS1SD
BIB©TBSWBTZBQSBCIBWPNBUUBÁTBSWB©QSBWBSUBUF]
ÅHSL3U@ÃI-SDL@ATW@Ã@URLH-US@
Â
JUJNBUWCIBKBOUFN©CVEICIWBTBNBOWJUÁ]]]]
#IBHBWBE(²UPage 94 of 179
LH×^@L¶Se@:@A@DWX-SOQ2OQLÆ
NBDDJUUNBEHBUBQS´CPEIBZBOUBÁQBSBTQBSBN]
JVX-SoL@HM3XSTXH-SBQLH-SB
Â
LBUIBZBOUB°DBN©OJUZB©UV¹ZBOUJDBSBNBOUJDB]]]]
SD@RSSXTÄ@M@ÃIS@e(HSO4U1JLÆ
UF¹©TBUBUBZVLUO©CIBKBU©QS²UJQÄSWBLBN]
CC@HLATHµX@DFSXDML@LTOX@H-SSD
Â
EBENJCVEEIJZPHB©UB©ZFOBNNVQBZOUJUF]]]]
SD@LDU@MTJ,O@V1LGL\@MISL
UF¹NFWOVLBNQSUIBNBIBNBK¸OBKB©UBNBÁ]
M@YX@,X@3LÃ@U2V@D\@MC(ODMÃ@2US@
Â
O°BZNZUNBCIWBTUIPK¸OBE²QFOBCITWBU]]]]
IT1MU@B
BSKVOBVWDB]
OQg|OQW@LOHU`OQLÃU@MÆ
QBSB©CSBINBQBSB©EINBQBWJUSB©QBSBNB©CIBWO]
OTkY@sSHC5XL@HCCDULIHUÃTLÆ
Â
QVSV¹B©°°WBUB©EJWZBNEJEFWBNBKB©WJCIVN]]]]
#IBHBWBE(²UPage 95 of 179
@¤23U@LXRUD1CDUH1M@1QC2SV@
IVTUWN®¹BZBÁTBSWFEFWBS¹JSOSBEBTUBUI]
HRS@DCDUK@D5X@R2UXB$UgU(HLD
Â
BTJUPEFWBMPWZTBÁTWBZB©DBJWBCSBW²¹JNF]]]]
RU1LDS}SL-XDX-L@UCHRJDYU
TBSWBNFUBE®UB©NBOZFZBON©WBEBTJLF°BWB]
MHGSDÃFU-5XHÄHU¯CD1U@MC@MU@
Â
OBIJUFCIBHBWBOWZBLUJ©WJEVSEFWOBEOBWÁ]]]]
2UXLDU@3LM@3L@MUD3V3UOTk@D^L
TWBZBNFWUNBOUNOB©WFUUIBUWB©QVSV¹PUUBNB]
Ã4SÃ@UMÃ4SDYCDUCDUIF3OSD
Â
CIÄUBCIWBOBCIÄUF°BEFWBEFWBKBHBUQBUF]]]]
UÄLG12XYDD:HC5X@Ð@3LHUÃ4SX
WBLUVNBSIBTZB°F¹F´BEJWZIZUNBWJCIÄUBZBÁ]
X@HÃHU1Ã4HSHÃK@D1J@HML@23U5X@/XHStHR
Â
ZCIJSWJCIÄUJCIJSMPLOJN©TUWB©WZQZBUJ¹¾IBTJ]]]]
JVHU
@LGX@DHF23U@RC@OHQHB-SXMÆ
LBUIB©WJEZNBIB©ZPHJ©TUW©TBEQBSJDJOUBZBO]
JDTJDTBÃ@UDTHB-3X@DHRÃFU-LX@
Â
LF¹VLF¹VDBCIWF¹VDJOUZPTJCIBHBWBONBZ]]]]
#IBHBWBE(²UPage 96 of 179
HU2SQD:@3LM@DX@DFHUÃ4HSBIM@C1M
WJTUBSF´UNBOPZPHB©WJCIÄUJ©DBKBOSEBOB]
Ã4XJVXSHÏHG1YZUS@DM@H2SLDLSLÆ
Â
CIÄZBÁLBUIBZBU®QUJSIJ°®´WBUPOTUJNFN®UBN]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
G-SSDJVHXX@HLHC5X@Ð@3LHUÃ4SX
IBOUBUFLBUIBZJ¹ZNJEJWZIZUNBWJCIÄUBZBÁ]
e@W@-XSJkrDtM@23X-S@DHU2SQ2XLD
Â
QSEIOZBUBÁLVSV°SF¹¾IBOTUZBOUPWJTUBSBTZBNF]]]]
GL@3L@FTE@JDYRU1Ã4S@YXH2VS
BIBNUNHVºLF°BTBSWBCIÄU°BZBTUIJUBÁ]
GL@HCoL7XBÃ4S@M@L-SUB
Â
BIBNEJ°DBNBEIZB©DBCIÄUONBOUBFWBDB]]]]
@HC3X@M@LGHU:T)X@D1HS@QHUQYTL@MÆ
EJUZONBIB©WJ¹´VSKZPUJ¹©SBWJSB©°VNO]
LQ(HBL1kS@LH2LM<`@:@LGYY(
Â
NBS²DJSNBSVUNBTNJOBL¹BUS´NBIB©°B°²]]]]
#IBHBWBE(²UPage 97 of 179
UDC@M@R@LUDC@DH2LCDU@M@LH2LU@RU
WFEO©TNBWFEPTNJEFWONBTNJWTBWBÁ]
ÅH-¸X@:@LMo@H2LÃ4S@M@LH2LBDSM@
Â
JOESJZ´©NBOB°DTNJCIÄUONBTNJDFUBO]]]]
k¸@:@YQo@H2LHU^DY@DX<Q<R@LÆ
SVES´©°BµLBSB°DTNJWJUUF°PZBL¹BSBL¹BTN]
UR4M@O@UJo@H2LLDkHYNHQ:@LGLÆ
Â
WBTÄO©QWBLB°DTNJNFSVÁ°JLIBSJ´NBIBN]]]]
OTQ@DWR@BLT.XL@HUHµO@V1AG2OHSLÆ
QVSPEIBT©DBNVLIZB©N©WJEEIJQSUIBC®IBTQBUJN]
RDM@M(M@LG2J-CRQR@LH2LR@FQ
Â
TFOO²ONBIB©TLBOEBÁTBSBTNBTNJTHBSBÁ]]]]
LG(1:@ÃFTQGHFQ@L2,XDJL<QLÆ
NBIBS¹²´©CI®HVSBIB©HJSNBTNZFLBNBL¹BSBN]
X\@M@IOX\@DH2L2V@UQ@:@HGL@KX
Â
ZBK¸O©KBQBZBK¸PTNJTUIWBS´©IJNMBZBÁ]]]]
s3VRU1U<@:@CDU(1:@BM@QC
B°WBUUIBÁTBSWBW®L¹´©EFWBS¹²´©DBOSBEBÁ]
F-WU@1:@HB`QVHRµ@M@JHOK@DLTHM
Â
HBOEIBSW´©DJUSBSBUIBÁTJEEIO©LBQJMPNVOJÁ]]]]
#IBHBWBE(²UPage 98 of 179
×$rURLs@M@HUHµL@LLS@DaULÆ
VDDBJÁ°SBWBTBNB°WO©WJEEIJNNBN®UPECIBWBN]
DQ@USFID-¸@:@MQ@:@BMQ@HWOLÆ
Â
BJSWBUB©HBKFOES´©OBS´©DBOBSEIJQBN]]]]
@XTW@M@LGUWDM4M@LH2LJ@LWTJ
ZVEIONBIB©WBKSB©EIFOÄONBTNJLNBEIVL]
eIMo@H2LJ-CO1RO@1:@LH2LU@RTHJ
Â
QSBKBOB°DTNJLBOEBSQBÁTBSQ´NBTNJWTVLJÁ]]]]
M-So@H2LM@F@M@Uk:@DX@CR@LGLÆ
BOBOUB°DTNJOHO©WBSV´PZEBTNBIBN]
HOS:@LX1L@B@H2LXLRXLS@LGLÆ
Â
QJU±´NBSZBNDTNJZBNBÁTB©ZBNBUNBIBN]]]]
e£@Co@H2LC$3X@M@J@KJKXS@LGLÆ
QSBIMEB°DTNJEBJUZO©LMBÁLBMBZBUNBIBN]
LF@:@BLFD-¸@DGU$MSDXoOH<:@LÆ
Â
N®H´©DBN®HFOESPIB©WBJOBUFZB°DBQBL¹J´N]]]]
OUMOUS@LH2LQ@LYvÃS@LGLÆ
QBWBOBÁQBWBUNBTNJSNBÁ°BTUSBCI®UNBIBN]
'@:@LJQo@H2Lw@DSR@LH2LI@{U(
Â
KIB¹´©NBLBSB°DTNJTSPUBTNBTNJKIOBW²]]]]
#IBHBWBE(²UPage 99 of 179
RF@1:@L@HCQ-SoL7XB$U@GLIT1M
TBSH´NEJSBOUB°DBNBEIZB©DBJWIBNBSKVOB]
7X@3LHU
@HU
@M@U@CeUCS@LGLÆ
Â
BEIZUNBWJEZWJEZO©WEBÁQSBWBEBUNBIBN]]]]
<Q@:@LJ@Q@DH2Lb-bR@L@HRJ2XB
BL¹BS´NBLSPTNJEWBOEWBÁTNTJLBTZBDB]
GLDU@<XJ@K@DW@S@GHUsS@DLTN
Â
BIBNFWL¹BZBÁLMPEIUIB©WJ°WBUPNVLIBÁ]]]]
L3XTRU1GQo@GLTaUoÃHUXS@LÆ
N®UZVÁTBSWBIBSB°DIBNVECIBWB°DBCIBWJ¹ZBUN]
J(HS1r(U@1¨M@Q(:@2LHSLD1W@WHS<L@
Â
L²SUJÁ°S²SWLDBOS²´©TN®UJSNFEIEI®UJÁL¹BN]]]]
AG3R@LSV@R@j@F@X`(#-CR@LGLÆ
C®IBUTNBUBUITNO©HZBUS²DIBOEBTNBIBN]
L@R@M@L@F1Y(@D1GLS4M@JRTL@JQ
Â
NTO©NSHB°²S¹PIBN®UÄO©LVTVNLBSBÁ]]]]
4S#KXS@LH2LSDI2SDIH2UM@LGLÆ
EZÄUB©DIBMBZBUNBTNJUFKBTUFKBTWJONBIBN]
IX@DH2L5XUR@X@DH2LR_UR_UUS@LGLÆ
Â
KBZPTNJWZBWBTZPTNJTBUUWB©TBUUWBWBUNBIBN]]]]
#IBHBWBE(²UPage 100 of 179
U:(M@U@RTCDU@DH2LO@ZEU@M@WMX
W®¹´²O©WTVEFWPTNJQ´ºBWO©EIBOB¸KBZBÁ]
LTM(M@L/XG5X@RJU(M@LTYM@JHU
Â
NVO²ONBQZBIB©WZTBÁLBW²ONV°BOLBWJÁ]]]]
CZE@DCLXS@LH2LM(HSQH2LHIF(S@LÆ
EB´ºPEBNBZBUNBTNJO²UJSBTNJKJH²¹BUN]
L@$MB$U@H2LFTÐ@M@\@M\@MUS@LGLÆ
Â
NBVOB©DBJWTNJHVIZO©K¸OB©K¸OBWBUNBIBN]]]]
X×@HORU1Ã4S@M@A(ISCGLIT1M
ZBDDQJTBSWBCIÄUO©C²KB©UBEBIBNBSKVOB]
MSCH2SHUM@X32X@-LX@Ã4SBQ@BQLÆ
Â
OBUBEBTUJWJOZBUTZONBZCIÄUB©DBSDBSBN]]]]
M@-S@DH2SLLHC5X@M@HUÃ4S(M@OQ-SO
OOUPTUJNBNBEJWZO©WJCIÄU²O©QBSBOUBQB]
S4´DYSe@DÄ@DHUÃ4SDHU12SQ@DLX@
Â
F¹BUÄEEF°BUBÁQSPLUPWJCIÄUFSWJTUBSPNBZ]]]]
X
HbÃ4HSL3R_Ur(L±HI1SLDUU@
ZBEZBEWJCIÄUJNBUTBUUWB©°S²NBEÄSKJUBNFWBW]
S^CDU@UF"#3ULLSDI@DYR,ÃULÆ
Â
UBUUBEFWWBHBDDIBUWB©NBNBUFKP©°BTBNCIBWBN]]]]
#IBHBWBE(²UPage 101 of 179
VU@A¤M$SDMHJ\@SDMSU@IT1M
BUIBWCBIVOBJUFOBLJ©K¸UFOBUBWSKVOB]
HUu>X@GHLCJ3xLDJ@YDMH2VS@DIFSÆ
Â
WJ¹¾BCIZIBNJEB©L®UTOBNFL©°FOBTUIJUPKBHBU]]]]
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
HUÃ4HSX@DF@DM@LCYL@D7X@X
WJCIÄUJZPHPONBEB°BNPEIZZBÁ]]]]
#IBHBWBE(²UPage 102 of 179
V$J@CY@D7X@X
BUIBJLEB°PEIZZBÁ
IT1MU@B
BSKVOBVWDB]
LCMTG@XOQLFTÐL7X@3LRH\SLÆ
NBEBOVHSBIZBQBSBNB©HVIZBNBEIZUNBTB¸K¸JUBN]
X_UX@DÄUB2SDML@DG@DXHUFS@DLL
Â
ZBUUWBZPLUB©WBDBTUFOBNPIPZB©WJHBUPNBNB]]]]
ÃU@/XX@$HGÃ4S@M@rTS@$HU2SQY@DLX@
CIBWQZBZBVIJCIÄUO©°SVUBVWJTUBSB°PNBZ]
3U^JLKO`@<L@G@3,XLHOB@5XXLÆ
Â
UWBUUBÁLBNBMBQBUSL¹BNIUNZBNBQJDWZBZBN]]]]
ULDS
V@3V3UL@3L@MOQLDsQ
FWBNFUBEZBUIUUIBUWBNUNOB©QBSBNF°WBSB]
¸uTHL"#@HLSDmOL$sQOTk@D^L
Â
ESB¹¾VNJDDINJUFSÄQBNBJ°WBSB©QVSV¹PUUBNB]]]]
#IBHBWBE(²UPage 103 of 179
L-XRDXHCS"#*XLX@¸uTHLHSeÃ@D
NBOZBTFZBEJUBDDIBLZB©NBZESB¹¾VNJUJQSBCIP]
X@DFDsQSS@DLD3UCY1X@3L@ML5XXLÆ
Â
ZPHF°WBSBUBUPNFUWB©EBS°BZUNOBNBWZBZBN]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
O9XLDO@V1mO@H:YSY@DVRGwY
QB°ZBNFQSUIBSÄQ´J°BUB°PUIBTBIBTSB°BÁ]
M@M@HUW@HMHC5X@HMM@M@U:@1JS(HMB
Â
OOWJEIOJEJWZOJOOWBS´L®U²OJDB]]]]
O9X@HC3X@-UR4MÆk¸@MHsM@$LkS2SV@
QB°ZEJUZOWBTÄOSVESOB°WJOBVNBSVUBTUBUI]
A-X}uO4U@1H:O9X@oX@1H:Ã@QS
Â
CBIÄOZBE®¹¾BQÄSW´JQB°Z°DBSZ´JCISBUB]]]]
ÅG$J2VIF3J3xO9X@
RBQ@BQLÆ
JIBJLBTUIB©KBHBUL®UTOB©QB°ZEZBTBDBSDBSBN]
LLCDGDFTE@JDYX×@-XC¸uTHL"#HR
Â
NBNBEFIFHVºLF°BZBDDOZBEESB¹¾VNJDDIBTJ]]]]
#IBHBWBE(²UPage 104 of 179
MSTL@Y*XRD¸uTLMDM$U2UB<T@
OBUVN©°BLZBTFESB¹¾VNBOFOBJWBTWBDBL¹V¹]
HC5XCC@HLSDB<TO9XLDX@DFL$sQLÆ
Â
EJWZB©EBENJUFDBL¹VÁQB°ZBNFZPHBNBJ°WBSBN]]]]
RXU@B
TB¸KBZBVWDB]
ULT
U@SS@DQ@I-LG@X@DFDsQ@DGHQ
FWBNVLUWUBUPSKBONBIZPHF°WBSPIBSJÁ]
CY1X@L@RO@V@1XOQLmOL$sQLÆ
Â
EBS°BZNTBQSUIZBQBSBNB©SÄQBNBJ°WBSBN]]]]
MDJUMXMLMDJ@a«SCY1MLÆ
BOFLBWBLUSBOBZBOBNBOFLECIVUBEBS°BOBN]
MDJHC5X@ÃQ:HC5X@MDJ@D
S@XTWLÆ
Â
BOFLBEJWZCIBSB´B©EJWZOFLPEZBUZVEIBN]]]]
HC5XL@+X@,AQWQHC5XF-W@MTKDOMLÆ
EJWZBNMZNCBSBEIBSB©EJWZBHBOEIOVMFQBOBN]
RU@1oX1LXCDULM-SHUsS@DLTNLÆ
Â
TBSW°DBSZBNBZB©EFWBNBOBOUB©WJ°WBUPNVLIBN]]]]
#IBHBWBE(²UPage 105 of 179
HCHUR4X1RGw2XÃUD
TFO¯H3VS@
EJWJTÄSZBTBIBTSBTZBCIBWFEZVHBQBEVUUIJU]
XHCÃ@R}Y(R@2X@a@R2S2XLG@3LM
Â
ZBEJCIÁTBE®°²TTZECITBTUBTZBNBIUNBOBÁ]]]]
S`$J2VIF3J3xeHUÃÄLMDJW@
UBUSBJLBTUIB©KBHBUL®UTOB©QSBWJCIBLUBNBOFLBEI]
O9X´DUCDU2XYQ(QDO@ZEU2SC@
Â
BQB°ZBEEFWBEFWBTZB°BS²SFQ´ºBWBTUBE]]]]
SSRHU2LX@HUu@DzuQ@DL@WMX
UBUBÁTBWJTNBZWJ¹¾PI®¹¾BSPNEIBOB¸KBZBÁ]
e:,XHYQR@CDUJS@HKQÃ@S
Â
QSB´BNZB°JSBTEFWB©L®U¸KBMJSBCI¹BUB]]]]
IT1MU@B
BSKVOBVWDB]
O9X@HLCDU@2SUCDUCDGD
QB°ZNJEFW©TUBWBEFWBEFIF
RU@2SV@Ã4SHUYDRÇ@MÆ
TBSW©TUBUICIÄUBWJ°F¹BTBµHIO]
#IBHBWBE(²UPage 106 of 179
g|@:L(YJLK@RM2V
CSBIN´BN²°B©LBNBMTBOBTUIB©
;(oRU@1MTQF@oHC5X@MÆ
Â
®¹²©°DBTBSWOVSBH©°DBEJWZO]]]]
MDJA@CQUMD`
BOFLBCIÄEBSBWBLUSBOFUSB©
O9X@HL3U@RU1S@DM-SmOLÆ
QB°ZNJUW©TBSWBUPOBOUBSÄQBN]
M@-SML7XMOTM2SU@HC
OOUB©OBNBEIZB©OBQVOBTUBWEJ©
O9X@HLHUsDsQHUsmO
Â
QB°ZNJWJ°WF°WBSBWJ°WBSÄQB]]]]
HJQ(HPMFHCMBHÖ:B
LJS²¾JOB©HBEJOB©DBLSJ´B©DB
SDI@DQ@HYRU1S@DC(HÏL-SLÆ
UFKPS°J©TBSWBUPE²QUJNBOUBN]
O9X@HL3U@¯HM1Q(yXRL-S@C
QB°ZNJUW©EVSOJS²L¹ZB©TBNBOUE
C(Ï@MK@J1
THSLeLDXLÆ
Â
E²QUOBMSLBEZVUJNBQSBNFZBN]]]]
#IBHBWBE(²UPage 107 of 179
3UL<QOQLUDHCS5X
UWBNBL¹BSB©QBSBNB©WFEJUBWZB©
3UL2XHUs2XOQHMW@MLÆ
UWBNBTZBWJ°WBTZBQBSB©OJEIOBN]
3UL5XXY@sSWL1F@DÏ@
UWBNBWZBZBÁ°°WBUBEIBSNBHPQU
RM@SM23UOTk@DLS@DLD
Â
TBOUBOBTUWB©QVSV¹PNBUPNF]]]]
M@HCL7X@-SLM-SU(X1LÆ
BOEJNBEIZOUBNBOBOUBW²SZBN
M-SA@¤YHYR4X1MD`LÆ
BOBOUBCIV©°B°JTÄSZBOFUSBN]
O9X@HL3U@C(ϤS@YU
QB°ZNJUW©E²QUBIVU°BWBLUSB©
2USDIR@HUsHLCSO-SLÆ
Â
TWBUFKBTWJ°WBNJEB©UBQBOUBN]]]]
@U@OHV5X@DHQCL-SQHG
EZWQ®UIJWZPSJEBNBOUBSB©IJ
5X@Ï3UX$JDMHCYoRU@1
WZQUB©UWBZBJLFOBEJ°B°DBTBSWÁ]
#IBHBWBE(²UPage 108 of 179
}PU@a«SmOLTSUDC
E®¹¾WECIVUB©SÄQBNVHSB©UBWFEB©
K@DJ`Xe5XHVSLG@3LMÆ
Â
MPLBUSBZB©QSBWZBUIJUB©NBIUNBO]]]]
L(HG3U@RTQRÇ@HUYH-S
BN²IJUW©TVSBTBµHIWJ°BOUJ
JDHBa(S@e@KX@DF:H-S
LFDJECI²UÁQS¸KBMBZPH®´BOUJ]
2U2S(3XT
U@LGH1HRµRÇ@
TWBTU²UZVLUWNBIBS¹JTJEEIBTBµHIÁ
2STUH-S3U@2STHSHÃOTJK@HÃ
Â
TUVWBOUJUW©TUVUJCIJÁQV¹LBMCIJÁ]]]]
k¸@HC3X@URU@DXDBR@7X@
SVESEJUZWBTBWPZFDBTEIZ
HUsDHsM@$LkSo@DLO@o
WJ°WF°WJOBVNBSVUB°DP¹NBQ°DB]
F-WU1X<@RTQHRµRÇ@
HBOEIBSWBZBL¹TVSBTJEEIBTBµHI
U(<-SD3U@HUH2LS@o$URUD1
Â
W²L¹BOUFUW©WJTNJU°DBJWBTBSWF]]]]
#IBHBWBE(²UPage 109 of 179
mOLG^DA¤UMD`
SÄQB©NBIBUUFCBIVWBLUSBOFUSB©
LG@A@G@DA¤A@kO@CLÆ
NBICIPCBIVCIÄSVQEBN]
ACQA¤Cu@JQ@K
CBIÄEBSB©CBIVEB©¹¾SLBSMB©
}PU@K@DJ@e5XHVS@2SV@GLÆ
Â
E®¹¾WMPLÁQSBWZBUIJUTUBUIIBN]]]]
MÃ2OYC(ÏLMDJU:
OBCIBÁTQ®°B©E²QUBNBOFLBWBS´B©
5X@^@MMC(ÏHUY@KMD`LÆ
WZUUOBOB©E²QUBWJ°MBOFUSBN]
}PU@HG3U@e5XHVS@-SQ@3L@
E®¹¾WIJUW©QSBWZBUIJUOUBSUN
WHSMHU-C@HLYLBHU:@D
Â
EI®UJ©OBWJOENJ°BNB©DBWJ¹´P]]]]
Cu@JQ@K@HMBSDLTN@HM
EB©¹¾SLBSMOJDBUFNVLIOJ
}PU$UJ@K@MKRHºÃ@HM
E®¹¾WBJWBLMOBMBTBOOJCIOJ]
#IBHBWBE(²UPage 110 of 179
HCY@DMI@MDMKÃDBYL1
EJ°POBKOFOBMBCIFDB°BSNB
eR(CCDUDYIFHºU@R
Â
QSBT²EBEFWF°BKBHBOOJWTB]]]]
L(B3U@WSQ@u2XOT`@
BN²DBUW©EI®UBS¹¾SBTZBQVUSÁ
RUD1RG$U@UHMO@KRÇ$
TBSWFTBIBJWWBOJQMBTBµHIBJÁ]
Ã(L@D¸@D:R4SOT`2SV@R@$
CI²¹NPESP´BÁTÄUBQVUSBTUBUITBV
RG@2LC(X$QHOX@DWLT.X$
Â
TBITNBE²ZBJSBQJZPEIBNVLIZBJÁ]]]]
U@H:SD3UQL@:@HUYH-S
WBLUS´JUFUWBSBN´WJ°BOUJ
Cu@JQ@K@HMÃX@MJ@HM
EB©¹¾SLBSMOJCIBZOBLOJ]
JDHBHbK@CYM@-SQDT
LFDJEWJMBHOEB°BOOUBSF¹V
R-}9X-SDB4H:1S$k^L@Ø$
Â
TBOE®°ZBOUFDÄS´JUBJSVUUBNµHBJÁ]]]]
#IBHBWBE(²UPage 111 of 179
XV@MC(M@AGU@D,ATUDF@
ZBUIOBE²O©CBIBWPNCVWFHÁ
RLT¸LDU@HÃLTN@¸UH-S
TBNVESBNFWCIJNVLIESBWBOUJ]
SV@SU@L(MQK@DJU(Q@
UBUIUBWN²OBSBMPLBW²S
HUYH-SU@ZXHÃHU)UKH-S
Â
WJ°BOUJWBLUS´ZBCIJWJKWBMBOUJ]]]]
XV@eC(Ï)UKMOSØ@
ZBUIQSBE²QUB©KWBMBOB©QBUBµH
HUYH-SM@Y@XRLµUDF@
WJ°BOUJO°ZBTBN®EEIBWFHÁ]
SV$UM@Y@XHUYH-SK@DJ@RÆÂ
UBUIBJWBO°ZBWJ°BOUJMPLT
SU@HOU@H:RLµUDF@
Â
UBWQJWBLUS´JTBN®EEIBWFHÁ]]]]
KDHKÐRDRL@MRL-S@KÆÂ
MFMJIZBTFHSBTBNOBÁTBNBOUM
K@DJ@-RL@-UCM$)U1KHa
MPLOTBNBHSOWBEBOBJSKWBMBECIJÁ]
#IBHBWBE(²UPage 112 of 179
SDI@DHÃQ@O4X1IF3RL
UFKPCIJSQÄSZBKBHBUTBNBHSB©
Ã@R2SU@D@eSOH-SHU:@D
Â
CITBTUBWPHSÁQSBUBQBOUJWJ¹´P]]]]
@.X@HGLDJ@DÃU@MTmO@D
LIZIJNFLPCIBWOVHSBSÄQP
ML@D2STSDCDUUQeR(C
OBNPTUVUFEFWBWBSBQSBT²EB]
HU\@STHL"#@HLÃU-SL@
WJK¸UVNJDDINJCIBWBOUBNEZB©
MHGeI@M@HLSUeUH^LÆ
Â
OBIJQSBKONJUBWBQSBW®UUJN]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
J@K@DH2LK@DJ<XJ3eUµ@D
LMPTNJMPLBL¹BZBL®UQSBW®EEIP
K@DJ@-RL@GST1HLGeU^
MPLOTBNIBSUVNJIBQSBW®UUBÁ]
#IBHBWBE(²UPage 113 of 179
;SDHO3U@MÃHUXH-SRUD1
®UFQJUW©OBCIBWJ¹ZBOUJTBSWF
XDUH2VS@e3XM(JDTX@DW@
Â
ZFWBTUIJUÁQSBUZBO²LF¹VZPEIÁ]]]]
S2L@_ULTH^tXY@DKÃ2U
UBTNUUWBNVUUJ¹¾IBZB°PMBCIBTWB
HI3U@Y`4MÆÃTyUQ@)XRLµLÆ
KJUW°BUSÄOCIVµL¹WBSKZB©TBN®EEIBN]
LX$U$SDHMGS@O4U1LDU
NBZBJWBJUFOJIBUÁQÄSWBNFWB
HMHL^L@`ÃUR5XR@HBMÆ
Â
OJNJUUBNUSB©CIBWBTBWZBTDJO]]]]
¸@D:BÃ(LBIX¸VB
ESP´B©DBCI²¹NB©DBKBZBESBUIB©DB
J:SV@-X@MHOX@DWU(Q@MÆ
LBS´B©UBUIOZOBQJZPEIBW²SO]
LX@GS@23UIHGL5XHVt@
NBZIBU©TUWB©KBIJNBWZBUIJ¹¾I
XT7X2UIDS@HRQ:DRO@MÆ
Â
ZVEIZBTWBKFUTJSB´FTBQBUOO]]]]
#IBHBWBE(²UPage 114 of 179
RXU@B
TB¸KBZBVWDB]
S"«3U@UBMJDYU2X
FUBDDISVUWWBDBOB©LF°BWBTZB
JS@HKUD1OL@MHJQ(P(
L®U¸KBMJSWFQBNOBÁLJS²¾²]
ML2J3U@Ã4XU@GJ:
OBNBTL®UWCIÄZBFWIBL®¹´B©
RF¶CÃ(SÃ(Se:,X
Â
TBHBEHBEB©CI²UBCI²UBÁQSB´BNZB]]]]
IT1MU@B
BSKVOBVWDB]
2V@MDz(JDYSUeJ(3X@1
TUIOFI®¹²LF°BUBWBQSBL²SUZ
IF3ezX3XMTQ)XSDB
KBHBUQSBI®¹ZBUZBOVSBKZBUFDB]
Q<@HRÃ(S@HMHCY@D¸UH-S
SBL¹©TJCI²UOJEJ°PESBWBOUJ
RUD1ML2XH-SBHRµRÇ@
Â
TBSWFOBNBTZBOUJDBTJEEIBTBµHIÁ]]]]
#IBHBWBE(²UPage 115 of 179
J2L@×SDMMLDQ-LG@3LMÆ
LBTNDDBUFOBOBNFSBONBIUNBO
FQ(XRDg|:@D/X@HCJ`D1
HBS²ZBTFCSBINB´PQZEJLBSUSF]
M-SCDUDYIFHºU@R
BOBOUBEFWF°BKBHBOOJWTB
3UL<QRCR^3OQXSÆ
Â
UWBNBL¹BSB©TBEBTBUUBUQBSB©ZBU]]]]
3UL@HCCDUOTkOTQ@:RÆÂ
UWBNEJEFWBÁQVSV¹BÁQVS´BT
3UL2XHUs2XOQHMW@MLÆ
UWBNBTZBWJ°WBTZBQBSB©OJEIOBN]
UD^@HRUD
BOQBW@L
WFUUTJWFEZB©DBQBSB©DBEINB
3UX@SSHUsLM-SmO
Â
UWBZUBUB©WJ°WBNBOBOUBSÄQB]]]]
U@XTX1L@DHU1k:YY@
WZVSZBNPHOJSWBSV´BÁ°B°µLBÁ
eI@OHS23UeHOS@LGo
QSBKQBUJTUWB©QSBQJUNBIB°DB]
#IBHBWBE(²UPage 116 of 179
ML@DML2SD2STRGwJ3U
OBNPOBNBTUFTUVTBIBTSBL®UWBÁ
OTMoÃ4X@DHOML@DML2SD
Â
QVOB°DBCIÄZPQJOBNPOBNBTUF]]]]
MLOTQ2S@CVOtS2SD
OBNBÁQVSBTUEBUIBQ®¹¾IBUBTUF
ML@D2STSDRU1SURU1
OBNPTUVUFTBSWBUBFWBTBSWB]
M-SU(X@1HLSHUÖL23U
BOBOUBW²SZNJUBWJLSBNBTUWB©
RURL@@DHSS@DHRRU1
Â
TBSWB©TBNQOP¹JUBUPTJTBSWBÁ]]]]
RNDHSL3U@eRÃX¯Ä
TBLIFUJNBUWQSBTBCIB©ZBEVLUB©
GDJ:GDX@CUGDRNDHS
IFL®¹´BIFZEBWBIFTBLIFUJ]
I@MS@LHGL@MSUDC
BKOBUNBIJNOB©UBWFEB©
LX@eL@C@3e:XDMU@HO
Â
NBZQSBNEUQSB´BZFOBWQJ]]]]
#IBHBWBE(²UPage 117 of 179
X×@UG@R@V1LR3JS@DHR
ZBDDWBITSUIBNBTBUL®UPTJ
HUG@QY8X@RMÃ@DIMDT
WJISB°BZZTBOBCIPKBOF¹V]
J@DVU@/X"XTSS3RL<
FLPUIBWQZBDZVUBUBUTBNBL¹B©
S3<@LXD3U@LGLeLDXLÆ
Â
UBUL¹NBZFUWNBIBNBQSBNFZBN]]]]
HOS@HRK@DJ2XBQ@BQ2X
QJUTJMPLBTZBDBSDBSBTZB
3UL2XO4)XoFTkF1Q(X@MÆ
UWBNBTZBQÄKZB°DBHVSVSHBS²ZO]
M3U3RL@D23X>XHWJJS@D-X@D
OBUWBUTBNPTUZBCIZBEIJLBÁLVUPOZP
K@DJ`XD/XeHSLeÃ@U
Â
MPLBUSBZFQZBQSBUJNBQSBCIWB]]]]
S2L@3e:,XeH:W@XJ@X
UBTNUQSB´BNZBQSB´JEIZBLZB©
eR@CXD3U@LGL(YL(ELÆ
QSBTEBZFUWNBIBN²°BN²ºZBN]
#IBHBWBE(²UPage 118 of 179
HOSDUOT`2XRNDUR.XT
QJUFWBQVUSBTZBTBLIFWBTBLIZVÁ
HeXHeX@X@G1HRCDUR@D%TLÆ
Â
QSJZBÁQSJZZSIBTJEFWBTPºIVN]]]]
}uO4UzHS@DH2L}PU@
BE®¹¾BQÄSWB©I®¹JUPTNJE®¹¾W
ÃXDMBe5XHVSLM@DLD
CIBZFOBDBQSBWZBUIJUB©NBOPNF]
SCDULDCY1XCDUmO
UBEFWBNFEBS°BZBEFWBSÄQB©
eR(CCDUDYIFHºU@R
Â
QSBT²EBEFWF°BKBHBOOJWTB]]]]
HJQ(HPMFHCMBÖG2S
LJS²¾JOB©HBEJOB©DBLSBIBTUB©
Å"#@HL3U@¸uTLGSV$U
JDDINJUW©ESB¹¾VNBIB©UBUIBJWB]
SDM$UmOD:BSTÃT1IDM
UFOBJWBSÄQF´BDBUVSCIVKFOB
RGwA@G@DÃUHUsL4SD1
Â
TBIBTSBCIPCIBWBWJ°WBNÄSUF]]]]
#IBHBWBE(²UPage 119 of 179
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
LX@eRºDMSU@IT1MDC
NBZQSBTBOOFOBUBWSKVOFEB©
mOOQCHY1SL@3LX@DF@SÆ
SÄQB©QBSB©EBS°JUBNUNBZPHU]
SDI@DLXHUsLM-SL@
UFKPNBZB©WJ°WBNBOBOUBNEZB©
X-LD3UC-XDMM}uO4U1LÆ
Â
ZBONFUWBEBOZFOBOBE®¹¾BQÄSWBN]]]]
MUDCX\@7XXM$M1C@M$QÂ
OBWFEBZBK¸EIZBZBOBJSOBEOBJS
MBHÖX@HÃM1SO@DHÃk$
OBDBLSJZCIJSOBUBQPCIJSVHSBJÁ]
UmOY*X GMK@DJD
FWB©SÄQBÁ°BLZBBIB©O®MPLF
¸uT3UC-XDMJkeU(Q
Â
ESB¹¾V©UWBEBOZFOBLVSVQSBW²SB]]]]
#IBHBWBE(²UPage 120 of 179
L@SD5XV@L@BHUL4%Ã@U@D
NUFWZBUINDBWJNĺIBCIWP
}PU@mOÇ@DQL(}LLDCLÆ
E®¹¾WSÄQB©HIPSBN²E®µNBNFEBN]
5XODSÃ(e(SLM@OTM23U
WZBQFUBCI²ÁQS²UBNBOÁQVOBTUWB©
SCDULDmOHLCeO9X
Â
UBEFWBNFSÄQBNJEB©QSBQB°ZB]]]]
RXU@B
TB¸KBZBVWDB]
Å3XIT1MU@RTCDU2SV@D
U@
JUZBSKVOB©WTVEFWBTUBUIPLUW
2UJmOCY1X@L@RÃ4X
TWBLB©SÄQB©EBS°BZNTBCIÄZBÁ]
@s@RX@L@RBÃ(SLDM
°WTBZNTBDBCI²UBNFOB©
Ã43U@OTMR@$,XUOTL1G@3L@
Â
CIÄUWQVOBÁTBVNZBWBQVSNBIUN]]]]
#IBHBWBE(²UPage 121 of 179
IT1MU@B
BSKVOBVWDB]
}PUDCL@MTmOSUR@$,XIM@C1M
E®¹¾WFEB©NOV¹B©SÄQB©UBWBTBVNZB©KBOSEBOB]
ÅC@M(LH2LRU^RBDS@eJHSFS
Â
JEO²NBTNJTB©W®UUBÁTBDFUÁQSBL®UJ©HBUBÁ]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
RT¯C1Y1HLCmO}uU@MHRX-LL
TVEVSEBS°BNJEB©SÄQB©E®¹¾BWOBTJZBONBNB]
M@GUDC$M1SOR@MC@MDMMBD)XX@
OIB©WFEBJSOBUBQBTOBEOFOBOBDFKZBZ]
Y*XUHUW@D¸uT}uU@MHRL@XV@
Â
°BLZBFWB©WJEIPESB¹¾V©E®¹¾BWOBTJN©ZBUI]]]]
Ã
X@3UM-XX@Y*X GLDUHUW@DIT1M
CIBLUZUWBOBOZBZ°BLZBBIBNFWB©WJEIPSKVOB]
\@ST¸uTBS_UDMeUDuTBOQ-SO
Â
K¸UV©ESB¹¾V©DBUBUUWFOBQSBWF¹¾V©DBQBSBOUBQB]]]]
#IBHBWBE(²UPage 122 of 179
L3JL1J-L3OQL@DLaÄRØUHI1S
NBULBSNBL®ONBUQBSBNPNBECIBLUBÁTBµHBWBSKJUBÁ]
HMU$1QRU1Ã4SDTXRL@LDHSO@ZEU
Â
OJSWBJSBÁTBSWBCIÄUF¹VZBÁTBNNFUJQ´ºBWB]]]]
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
HUsmOCY1MX@DF@DM@L$J@CY@D7X@X
WJ°WBSÄQBEBS°BOBZPHPONBJLEB°PEIZZBÁ]]]]
#IBHBWBE(²UPage 123 of 179
Vb@CY@D7X@X
BUIBEWEB°PEIZZBÁ
IT1MU@B
BSKVOBVWDB]
URSSXTÄ@XDÃÄ@23U@OXT1O@RSD
FWB©TBUBUBZVLUZFCIBLUTUW©QBSZVQTBUF]
XDB@/X<QL5XÄSD@JDX@DFHU^L@
Â
ZFDQZBL¹BSBNBWZBLUB©UF¹©LFZPHBWJUUBNÁ]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
L8X@UD9XLM@DXDL@HM3XXTÄ@O@RSD
NBZZWF°ZBNBOPZFN©OJUZBZVLUVQTBUF]
rµX@OQX@DODS@SDLDXTÄSL@LS@
Â
°SBEEIBZQBSBZPQFUÁUFNFZVLUBUBNNBUÁ]]]]
XD3U<QLHMCD19XL5XÄOXT1O@RSD
ZFUWBL¹BSBNBOJSEF°ZBNBWZBLUB©QBSZVQTBUF]
RU1`FLHB-3X®JP2VLBK-TULÆ
Â
TBSWBUSBHBNBDJOUZB¸DBLľBTUIBNBDBMBOEISVWBN]]]]
#IBHBWBE(²UPage 124 of 179
RHºX,XDH-¸X@LRU1`RLATµX
TBOOJZBNZFOESJZBHSNB©TBSWBUSBTBNBCVEEIBZBÁ]
SDe@TUH-SL@LDURU1Ã4SHGSDQS@
Â
UFQSQOVWBOUJNNFWBTBSWBCIÄUBIJUFSBUÁ]]]]
DY@DHWJSQ2SD@L5XÄ@RÄBDSR@LÆ
LMF°PEIJLBUBSBTUF¹NBWZBLUTBLUBDFUBTN]]
5XÄ@HGFHS¯1NCDGUHaQU@/XSD
Â
BWZBLUIJHBUJSEVÁLIB©EFIBWBECIJSBWQZBUF]]]]
XDSTRU@1H:JL@1H:LHXR-X2XL3OQ
ZFUVTBSW´JLBSN´JNBZJTBOOZBTZBNBUQBSBÁ]
M-XDM$UX@DFDML@7X@X-SO@RSD
Â
BOBOZFOBJWBZPHFOBN©EIZZBOUBVQTBUF]]]]
SD@LGRLTµS@1L3XTRR@QR@FQ@SÆ
UF¹NBIB©TBNVEEIBSUN®UZVTB©TSBTHBSU]
ÃU@HLMHBQ@3O@V1L8X@UDHYSBDSR@LÆ
Â
CIBWNJOBDJSUQSUIBNBZZWF°JUBDFUBTN]]]]
L8XDULM @W32ULHXATHµHMUDYX
NBZZFWBNBOBEIBUTWBNBZJCVEEIJ©OJWF°BZB]
VHB^RL@W@STMYÕ@DHLHXH2VQLÆ
BUIBDJUUB©TBNEIUV©OB°BLOP¹JNBZJTUIJSBN]
>X@RX@DFDMSS@DL@HL"#@ÏTWMX
Â
BCIZTBZPHFOBUBUPNNJDDIQUV©EIBOB¸KBZB]]]]
>X@RD/XRLV@D1HRL3JL1OQL@DÃU
BCIZTFQZBTBNBSUIPTJNBULBSNBQBSBNPCIBWB]
LCV1LHOJL@1H:JU1H-RHµLU@/2XHR
Â
NBEBSUIBNBQJLBSN´JLVSWBOTJEEIJNBWQTZBTJ]]]]
V$SC/XYÄ@DHRJSTL
@DFL@HrS
BUIBJUBEBQZB°BLUPTJLBSUV©NBEZPHBN°SJUBÁ]
rDX@DHG\@ML>X@R@)\@M@µ@MHUHYXSD
°SFZPIJK¸OBNBCIZTKK¸OEEIZOB©WJ°J¹ZBUF]
bDu@RU1Ã4S@M@L$`Jk:UB
BEWF¹¾TBSWBCIÄUO©NBJUSBÁLBSV´BFWBDB]
HML1L@DHMQG@QRL¯NRTN<L(
Â
OJSNBNPOJSBIBµLSBÁTBNBEVÁLIBTVLIBÁL¹BN²]]]]
#IBHBWBE(²UPage 126 of 179
R-STuRSSX@DF(XS@3L@}%HMoX
TBOUV¹¾BÁTBUBUB©ZPH²ZBUUNE®ºIBOJ°DBZBÁ]
L8XHO1SLM@DATHµX@D1LaÄRLDHeX
Â
NBZZBSQJUBNBOPCVEEIJSZPNBECIBLUBÁTBNFQSJZBÁ]]]]
X2L@º@DHbISDK@DJ@DK@DJ@º@DHbISDBX
ZBTNOOPEWJKBUFMPLPMPLOOPEWJKBUFDBZBÁ]
G@1L1ÃX@DbDF$LT1Ä@DXRBLDHeX
Â
IBS¹NBS¹BCIBZPEWFHBJSNVLUPZBÁTBDBNFQSJZBÁ]]]]
MOD<YTHBC1<C@R(M@DFS5XV
BOBQFL¹BÁ°VDJSEBL¹BVET²OPHBUBWZBUIBÁ]
RU@1Q,ÃOHQ3X@F(X@DLaÄRLDHeX
Â
TBSWSBNCIBQBSJUZH²ZPNBECIBLUBÁTBNFQSJZBÁ]]]]
X@DMzXHSMbDHuMY@DBHSMJ@<HS
ZPOBI®¹ZBUJOBEWF¹¾JOB°PDBUJOBLµL¹BUJ]
YTÃ@YTÃOHQ3X@F(ÃHÄL@-XRLDHeX
Â
°VCI°VCIBQBSJUZH²CIBLUJNOZBÁTBNFQSJZBÁ]]]]
RLY`@$BHL`DBSV@L@M@OL@MX@D
TBNBÁ°BUSBVDBNJUSFDBUBUINOQBNOBZPÁ]
Y(S@D:RTN¯NDTRLRØHUUHI1S
Â
°²UP¹´BTVLIBEVÁLIF¹VTBNBÁTBµHBWJWBSKJUBÁ]]]]
#IBHBWBE(²UPage 127 of 179
ST+XHM-C@2STHSL@$1M(R-STu@DXDMJDMHBSÆ
UVMZBOJOETUVUJSNBVO²TBOUV¹¾PZFOBLFOBDJU]
HMJDSH2VQLHSÃ1HÄL@-LDHeX@DMQ
Â
BOJLFUBÁTUIJSBNBUJSCIBLUJNONFQSJZPOBSBÁ]]]]
XDSTW,X@1LSHLCXV@DÄOXT1O@RSD
ZFUVEIBSNZN®UBNJEB©ZBUIPLUB©QBSZVQTBUF]
r´W@M@L3OQL@ÃÄ@2SDS(ULDHeX@
Â
°SBEEBEIONBUQBSBNCIBLUTUFU²WBNFQSJZÁ]]]]
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
ÃHÄX@DF@DM@Lb@CY@D7X@X
CIBLUJZPHPONBEWEB°PEIZZBÁ]]]]
#IBHBWBE(²UPage 128 of 179
V`X@DCY@D7X@X
BUIBUSBZPEB°PEIZZBÁ
IT1MU@B
BSKVOBVWDB]
eJHSOTkB$U<D`<D`\LDUB
QSBL®UJ©QVSV¹B©DBJWBL¹FUSB©L¹FUSBK¸BNFWBDB]
SbDHCSTHL"#@HL\@M\DXBJDYU
Â
FUBEWFEJUVNJDDINJK¸OB©K¸FZB©DBLF°BWB]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
ÅCYQ(QJ@$-SDX<D`HL3XHÃW(XSD
JEB©°BS²SB©LBVOUFZBL¹FUSBNJUZBCIJEI²ZBUF]
S
@DUDH^Se@¤<D`\ÅHSSHbC
Â
FUBEZPWFUUJUB©QSIVÁL¹FUSBK¸BJUJUBEWJEBÁ]]]]
<D`\B@HOL@HUHµRU1<D`DTÃ@QS
L¹FUSBK¸B©DQJN©WJEEIJTBSWBL¹FUSF¹VCISBUB]
<D`<D`\X@D\@1MX^)\@MLSLL
Â
L¹FUSBL¹FUSBK¸BZPSK¸OB©ZBUUBKK¸OB©NBUB©NBNB]]]]
#IBHBWBE(²UPage 129 of 179
S3<D`X×X@}¨XHbJ@HQXSoXSÆ
UBUL¹FUSB©ZBDDBZE®LDBZBEWJLSJZBUB°DBZBU]
RBX@DX3eÃ@UoS3RL@RDMLDY:T
Â
TBDBZPZBUQSBCIWB°DBUBUTBNTFOBNF°®´V]]]]
;HHÃA1¤W@F(S#-C@DHÃHU1HUW$OVJ
®¹JCIJSCBIVEIH²UB©DIBOEPCIJSWJWJEIBJÁQ®UIBL]
g|R4`OC$o$UGDSTLHaHU1HMHoS$
Â
CSBINBTÄUSBQBEBJ°DBJWBIFUVNBECIJSWJOJ°DJUBJÁ]]]]
LG@Ã4S@-XGJ@Q@DATHµQ5XÄLDUB
NBICIÄUOZBIBµLSPCVEEIJSBWZBLUBNFWBDB]
ÅH-¸X@H:CY$JBO®BDH-¸XF@DBQ@
Â
JOESJZ´JEB°BJLB©DBQB¸DBDFOESJZBHPDBSÁ]]]]
Å"#@bDRTN¯NRÇ@SoDSM@WHS
JDDIEWF¹BÁTVLIB©EVÁLIB©TBµHIUB°DFUBOEI®UJÁ]
S3<D`RL@RDMRHUJ@QLTC@zSLÆ
Â
FUBUL¹FUSB©TBNTFOBTBWJLSBNVEI®UBN]]]]
L@HM3ULCH,Ã3ULHGR@<@H-SQ@I1ULÆ
BNOJUWBNBEBNCIJUWBNBIJ©TL¹OUJSSKBWBN]
@B@X@D1O@RMY@$B2V$X1L@3LHUHMG
Â
DSZPQTBOB©°BVDB©TUIBJSZBNUNBWJOJHSBIBÁ]]]]
#IBHBWBE(²UPage 130 of 179
ÅH-¸X@VD1TU$Q@&XLMGJ@QUB
JOESJZSUIF¹VWBJSHZBNBOBIBµLSBFWBDB]
I-LL3XTIQ@5X@HW¯NC@D@MTCY1MLÆ
Â
KBONBN®UZVKBSWZEIJEVÁLIBEP¹OVEBS°BOBN]]]]
RHÄQMHÃUØOT`C@QFG@HCT
BTBLUJSBOBCIJ¹WBµHBÁQVUSBESBH®IEJ¹V]
HM3XBRLHB^3UHLu@HMu@DOOH^T
Â
OJUZB©DBTBNBDJUUBUWBNJ¹¾OJ¹¾PQBQBUUJ¹V]]]]
LHXB@M-XX@DFDMÃHÄQ5XHÃB@HQ:(
NBZJDOBOZBZPHFOBCIBLUJSBWZBCIJDSJ´²]
HUHUÄCDYRDHU3ULQHSI1MRRHC
Â
WJWJLUBEF°BTFWJUWBNBSBUJSKBOBTB©TBEJ]]]]
7X@3L\@MHM3X3US_U\@M@V1CY1MLÆ
BEIZUNBK¸OBOJUZBUWB©UBUUWBK¸OSUIBEBS°BOBN]
S)\@MHLHSe@DÄL\@MXCS@D-XV@
Â
FUBKK¸OBNJUJQSPLUBNBK¸OB©ZBEBUPOZBUI]]]]
\DXX^3eUyX@HLX)\@3U@LSLqTSD
K¸FZB©ZBUUBUQSBWBL¹ZNJZBKK¸UWN®UBNB°OVUF]
M@HCL3OQg|MR^º@R¯"XSD
Â
BOEJNBUQBSB©CSBINBOBTBUUBOOTBEVDZBUF]]]]
#IBHBWBE(²UPage 131 of 179
RU1SO@H:O@CS3RU1S@DH<HYQ@DLTNLÆ
TBSWBUBÁQ´JQEB©UBUTBSWBUPL¹J°JSPNVLIBN]
RU1SrTHSL¢@DJDRU1L@U3XHStHS
Â
TBSWBUBÁ°SVUJNBMMPLFTBSWBNW®UZBUJ¹¾IBUJ]]]]
RUD1H-¸XFT:@Ã@RRUD1H-¸XHUUHI1SLÆ
TBSWFOESJZBHV´CITB©TBSWFOESJZBWJWBSKJUBN]
RÄRU1Ã×$UHMFT1:FT:Ã@DÄB
Â
BTBLUB©TBSWBCI®DDBJWBOJSHV´B©HV´BCIPLU®DB]]]]
AHGQ-SoÃ4S@M@LBQBQLDUB
CBIJSBOUB°DBCIÄUONBDBSB©DBSBNFWBDB]
R4yL3U@^CHU\DX±Q2VB@H-SJDBSSÆ
Â
TÄL¹NBUWUUBEBWJK¸FZB©EÄSBTUIB©DOUJLFDBUBU]]]]
HUÃÄBÃ4SDTHUÃÄHLUBH2VSLÆ
BWJCIBLUB©DBCIÄUF¹VWJCIBLUBNJWBDBTUIJUBN]
Ã4SÃS1BS)\DXHR:TeÃHU:TB
Â
CIÄUBCIBSU®DBUBKK¸FZB©HSBTJ¹´VQSBCIBWJ¹´VDB]]]]
)X@DHS@LHOS))X@DHS2SLROQLT"XSD
KZPUJ¹NBQJUBKKZPUJTUBNBTBÁQBSBNVDZBUF]
\@M\DX\@MF,XzHCRU12XHUHtSLÆ
Â
K¸OB©K¸FZB©K¸OBHBNZB©I®EJTBSWBTZBWJ¹¾IJUBN]]]]
#IBHBWBE(²UPage 132 of 179
ÅHS<D`SV@\@M\DXB@DÄRL@RS
JUJL¹FUSB©UBUIK¸OB©K¸FZB©DPLUB©TBNTBUBÁ]
LaÄSHb\@XLa@U@X@DOO
SD
Â
NBECIBLUBFUBEWJK¸ZBNBECIWZPQBQBEZBUF]]]]
eJHSOTkB$UHUµM@HCÃ@UHO
QSBL®UJ©QVSV¹B©DBJWBWJEEIZBOEJVCIWBQJ]
HUJ@Q@oFT:@o$UHUHµeJHSR,ÃU@MÆ
Â
WJLS©°DBHV´©°DBJWBWJEEIJQSBL®UJTBNCIBWO]]]]
J@X1J@Q:JS13UDGDSTeJHSk"XSD
LSZBLSB´BLBSU®UWFIFUVÁQSBL®UJSVDZBUF]
OTkRTN¯N@M@Ã@DÄ3UDGDSTk"XSD
Â
QVSV¹BÁTVLIBEVÁLIO©CIPLU®UWFIFUVSVDZBUF]]]]
OTkeJHS2V@DHGÃT DeJHSI@-FT:@MÆ
QVSV¹BÁQSBL®UJTUIPIJCIVµLUFQSBL®UJKOHV´O]
J@Q:FT:RØ@D2XRCR
@DHMI-LRT
Â
LSB´B©HV´BTBµHPTZBTBEBTBEZPOJKBONBTV]]]]
O¸u@MTL-S@BÃS@1Ã@DÄ@LGDsQ
VQBESB¹¾OVNBOUDBCIBSUCIPLUNBIF°WBSBÁ]
OQL@3LDHSB@/XTÄ@DCDGDH2L-OTkOQ
Â
QBSBNUNFUJDQZVLUPEFIFTNJOQVSV¹BÁQBSBÁ]]]]
#IBHBWBE(²UPage 133 of 179
XUUDH^OTkeJHSBFT:$RG
ZBFWB©WFUUJQVSV¹B©QSBL®UJ©DBHV´BJÁTBIB]
RU1V@US1L@M@DHOMRÃ4X@DHÃI@XSD
Â
TBSWBUIWBSUBNOPQJOBTBCIÄZPCIJKZBUF]]]]
7X@MDM@3LHMO9XH-SJDHBC@3L@ML@3LM@
EIZOFOUNBOJQB°ZBOUJLFDJEUNOBNUNBO]
-XDR@.XDMX@DFDMJL1X@DFDMB@OQD
Â
BOZFTµLIZFOBZPHFOBLBSNBZPHFOBDQBSF]]]]
-XD3UDULI@M-SrT3U@-XD>XO@RSD
BOZFUWFWBNBKOBOUBÁ°SVUWOZFCIZBVQTBUF]
SDHOB@HSSQ-3XDUL3XTrTHSOQ@X:@
Â
UFQJDUJUBSBOUZFWBN®UZV©°SVUJQBSZB´Á]]]]
X@U3R@XSDHJH®3R_U2V@UQIØLLÆ
ZWBUTB¸KZBUFLJ¸DJUTBUUWB©TUIWBSBKBµHBNBN]
<D`<D`\RX@DF@^HbHµÃQS1Ã
Â
L¹FUSBL¹FUSBK¸BTB©ZPHUUBEWJEEIJCIBSBUBS¹BCIB]]]]
RLRUD1TÃ4SDTHSt-SOQLDsQLÆ
TBNB©TBSWF¹VCIÄUF¹VUJ¹¾IBOUB©QBSBNF°WBSBN]
HUM9X32UHUM9X-SXO9XHSRO9XHS
Â
WJOB°ZBUTWBWJOB°ZBOUB©ZBÁQB°ZBUJTBQB°ZBUJ]]]]
#IBHBWBE(²UPage 134 of 179
RLO9XH-GRU1`RLUH2VSL(sQLÆ
TBNB©QB°ZBOIJTBSWBUSBTBNBWBTUIJUBN²°WBSBN]
MHGM23X@3LM@3L@MSS@DX@HSOQ@FHSLÆ
Â
OBIJOBTUZUNBOUNOB©UBUPZUJQBS©HBUJN]]]]
eJ3X$UBJL@1H:HÖXL@:@HMRU1Y
QSBL®UZBJWBDBLBSN´JLSJZBN´OJTBSWB°BÁ]
XO9XHSSV@3L@MLJS@1QRO9XHS
Â
ZBÁQB°ZBUJUBUIUNOBNBLBSUSB©TBQB°ZBUJ]]]]
XC@Ã4SOV&Ã@ULDJ2VLMTO9XHS
ZBECIÄUBQ®UIBHCIWBNFLBTUIBNBOVQB°ZBUJ]
SSUBHU2S@Qg|R,O
SDSC@
Â
UBUBFWBDBWJTUSB©CSBINBTBNQBEZBUFUBE]]]]
M@HC3U@HºFT1:3U@3OQL@3L@XL5XX
BOEJUWOOJSHV´BUWUQBSBNUNZBNBWZBZBÁ]
YQ(Q2V@DHOJ@$-SDXMJQ@DHSMHK/XSD
Â
°BS²SBTUIPQJLBVOUFZBOBLBSPUJOBMJQZBUF]]]]
XV@RU1FSR@$y,X@C@J@YM@DOHK/XSD
ZBUITBSWBHBUB©TBVL¹NZEL°B©OPQBMJQZBUF]
RU1`@UH2VS@DCDGDSV@3L@M@DOHK/XSD
Â
TBSWBUSWBTUIJUPEFIFUBUIUNOPQBMJQZBUF]]]]
#IBHBWBE(²UPage 135 of 179
XV@eJ@YX3XDJJ3xK@DJHLLQHU
ZBUIQSBL°BZBUZFLBÁL®UTOB©MPLBNJNB©SBWJÁ]
<D`<D`(SV@J3xeJ@YXHSÃ@QS
Â
L¹FUSB©L¹FUS²UBUIL®UTOB©QSBL°BZBUJCISBUB]]]]
<D`<D`\X@DQDUL-SQ\@MB<T@
L¹FUSBL¹FUSBK¸BZPSFWBNBOUBSB©K¸OBDBL¹V¹]
Ã4SeJHSL@D<BXDHU¯X@1H-SSDOQLÆ
Â
CIÄUBQSBL®UJNPL¹B©DBZFWJEVSZOUJUFQBSBN]]]]
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
<D`<D`\HUÃ@FX@DF@DM@L`X@DCY@D7X@X
L¹FUSBL¹FUSBK¸BWJCIHBZPHPONBUSBZPEB°PEIZZBÁ]]]]
#IBHBWBE(²UPage 136 of 179
VBSTC1Y@D7X@X
BUIBDBUVSEB°PEIZZBÁ
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
OQÃ4XeUyX@HL\@M@M@\@MLT^LLÆ
QBSB©CIÄZBÁQSBWBL¹ZNJK¸OO©K¸OBNVUUBNBN]
X)\@3U@LTMXRUD1OQ@HRHµHLS@DFS@
Â
ZBKK¸UWNVOBZBÁTBSWFQBS©TJEEIJNJUPHBUÁ]]]]
ÅC\@MLTO@Hr3XLLR@W,X1L@FS@
JEB©K¸OBNVQ°SJUZBNBNBTEIBSNZBNHBUÁ]
RFD1HOM@DOI@X-SDeKXDM5XVH-SB
Â
TBSHFQJOPQBKZBOUFQSBMBZFOBWZBUIBOUJDB]]]]
LLX@DHML1GCg|SH2L-FÃCW@,XGLÆ
NBNBZPOJSNBIBECSBINBUBTNJOHBSCIB©EBEINZBIBN]
R,ÃURU1Ã4S@M@SS@DÃUHSÃ@QS
Â
TBNCIBWBÁTBSWBCIÄUO©UBUPCIBWBUJCISBUB]]]]
#IBHBWBE(²UPage 137 of 179
RU1X@DHMTJ@$-SDXL4S1XR,ÃUH-SX@
TBSWBZPOJ¹VLBVOUFZBNÄSUBZBÁTBNCIBWBOUJZÁ]
S@R@g|LG
@DHMQGA(IeCHOS@
Â
UT©CSBINBNBIBEZPOJSBIB©C²KBQSBEBÁQJU]]]]
R_UQI2SLÅHSFT:@eJHSR,ÃU@
TBUUWB©SBKBTUBNBJUJHV´ÁQSBL®UJTBNCIBWÁ]
HMAÓH-SLG@A@G@DCDGDCDHGML5XXLÆ
Â
OJCBEIOBOUJNBICIPEFIFEFIJOBNBWZBZBN]]]]
S`R_UHML1K3U@3eJ@YJLM@LXLÆ
UBUSBTBUUWB©OJSNBMBUWUQSBL°BLBNBONBZBN]
RTNRØDMAÓ@HS\@MRØDMB@MÇ
Â
TVLIBTBµHFOBCBEIOUJK¸OBTBµHFOBDOBHIB]]]]
QI@DQ@F@3LJHUHµS:@RØRLTaULÆ
SBKPSHUNBLB©WJEEIJU®¹´TBµHBTBNVECIBWBN]
SHºAÓ@HSJ@$-SDXJL1RØDMCDHGMLÆ
Â
UBOOJCBEIOUJLBVOUFZBLBSNBTBµHFOBEFIJOBN]]]]
SL23U\@MIHUHµL@DGMRU1CDHGM@LÆ
UBNBTUWBK¸OBKB©WJEEIJNPIBOB©TBSWBEFIJON]
eL@C@K2XHM¸@HÃ2SHºAÓ@HSÃ@QS
Â
QSBNEMBTZBOJESCIJTUBOOJCBEIOUJCISBUB]]]]
#IBHBWBE(²UPage 138 of 179
R_URTNDRXHSQIJL1H:Ã@QS
TBUUWB©TVLIFTB¸KBZBUJSBKBÁLBSNB´JCISBUB]
\@ML@U3XSTSLeL@CDRX3XTS
Â
K¸OBNW®UZBUVUBNBÁQSBNEFTB¸KBZBUZVUB]]]]
QI2SLo@HÃÃ4XR_UÃUHSÃ@QS
SBKBTUBNB°DCIJCIÄZBTBUUWB©CIBWBUJCISBUB]
QIR_USLo$USLR_UQI2SV@
Â
SBKBÁTBUUWB©UBNB°DBJWBUBNBÁTBUUWB©SBKBTUBUI]]]]
RU1b@QDTCDGDH2L-eJ@YOI@XSD
TBSWBEWSF¹VEFIFTNJOQSBL°BVQBKZBUF]
\@MXC@SC@HU
@HbUµR_UHL3XTS
Â
K¸OB©ZBEUBEWJEZEWJW®EEIB©TBUUWBNJUZVUB]]]]
K@DÃeUH^Q@Q,ÃJL1:@LYL2OG@
MPCIBÁQSBW®UUJSSBNCIBÁLBSNB´NB°BNBÁTQ®I]
QI2XDS@HMI@X-SDHUUµDÃQS1Ã
Â
SBKBTZFUOJKZBOUFWJW®EEIFCIBSBUBS¹BCIB]]]]
eJ@Y@DeUH^oeL@C@DL@DGUB
BQSBL°PQSBW®UUJ°DBQSBNEPNPIBFWBDB]
SL2XDS@HMI@X-SDHUUµDJkM-CM
Â
UBNBTZFUOJKZBOUFWJW®EEIFLVSVOBOEBOB]]]]
#IBHBWBE(²UPage 139 of 179
XC@R_UDeUµDSTeKXX@HSCDGÃSÆ
ZBETBUUWFQSBW®EEIFUVQSBMBZB©ZUJEFIBCI®U]
SC@D^LHUC@K@DJ@MLK@-eHSO
SD
Â
UBEPUUBNBWJE©MPLOBNBMOQSBUJQBEZBUF]]]]
QIHReKXF3U@JL1RHØTI@XSD
SBKBTJQSBMBZB©HBUWLBSNBTBµHJ¹VKZBUF]
SV@eK(M2SLHRL4%X@DHMTI@XSD
Â
UBUIQSBM²OBTUBNBTJNĺIBZPOJ¹VKZBUF]]]]
JL1:RTJS2X@¤R@H_UJHML1K KLÆ
LBSNB´BÁTVL®UBTZIVÁTUUWJLB©OJSNBMB©QIBMBN]
R_U@3R@XSD\@MQIR@DK@DÃUB
TBUUWUTB¸KZBUFK¸OB©SBKBTPMPCIBFWBDB]
eL@CL@DG@$SLR@DÃUS@D\@MLDUB
Â
QSBNEBNPIBVUBNBTPCIBWBUPK¸OBNFWBDB]]]]
=7UF"#H-SR_U2V@L7XDHStH-SQ@IR@
ÄSEIWB©HBDDIBOUJTBUUWBTUINBEIZFUJ¹¾IBOUJSKBTÁ]
M@-XFT:D>XJS@1QXC@¸u@MTO9XHS
OOZB©HV´FCIZBÁLBSUSB©ZBEESB¹¾OVQB°ZBUJ]
FT:D>XoOQUDH^La@UR@DHWF"#HS
Â
HV´FCIZB°DBQBSB©WFUUJNBECIWB©TPEIJHBDDIBUJ]]]]
FT:@MDS@MS(3X`(-CDG(CDGRLTaU@MÆ
HV´OFUOBU²UZBUS²OEFI²EFIBTBNVECIBWO]
I-LL3XTIQ@¯N$HU1LTÄ@DLSLqTSD
Â
KBONBN®UZVKBSEVÁLIBJSWJNVLUPN®UBNB°OVUF]]]]
IT1MU@B
BSKVOBVWDB]
J$HK1Ø$v(-FT:@MDS@MS(S@DÃUHSeÃ@D
LBJSMJµHBJTUS²OHV´OFUOBU²UPCIBWBUJQSBCIP]
HJL@B@QJVB$S@v(-FT:@MHSUS1SD
Â
LJNDSBÁLBUIB©DBJU©TUS²OHV´OBUJWBSUBUF]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
eJ@YBeUH^BL@DGLDUBO@ZEU
QSBL°B©DBQSBW®UUJ©DBNPIBNFWBDBQ´ºBWB]
MbDHuR,eU^@HMMHMU^@HMJ@<HS
Â
OBEWF¹¾JTBNQSBW®UUOJOBOJW®UUOJLµL¹BUJ]]]]
#IBHBWBE(²UPage 141 of 179
C@R(MUC@R(M@DFT:$X@D1MHUB@+XSD
VET²OBWBET²OPHV´BJSZPOBWJDMZBUF]
FT:@US1-SÅ3XDUX@DUHStHSMDØSD
Â
HV´WBSUBOUBJUZFWB©ZPWBUJ¹¾IBUJOFµHBUF]]]]
RL¯NRTN2U2VRLK@Du@9LJ@®M
TBNBEVÁLIBTVLIBÁTWBTUIBÁTBNBMP¹¾°NBL¸DBOBÁ]
ST+XHeX@HeX@DW(Q2ST+XHM-C@3LR2STHS
Â
UVMZBQSJZQSJZPEI²SBTUVMZBOJOEUNBTB©TUVUJÁ]]]]
L@M@OL@MX@D2ST+X2ST+X@DHL`@HQO<X@D
NOQBNOBZPTUVMZBTUVMZPNJUSSJQBL¹BZPÁ]
RU@1Q,ÃOHQ3X@F(FT:@S(SR"XSD
Â
TBSWSBNCIBQBSJUZH²HV´U²UBÁTBVDZBUF]]]]
L@BX@D5XHÃB@QD:ÃHÄX@DFDMRDUSD
N©DBZPWZBCIJDSF´BCIBLUJZPHFOBTFWBUF]
RFT:@-RLS(3X$S@-g|Ã4X@XJ+OSD
Â
TBHV´OTBNBU²UZBJUOCSBINBCIÄZZBLBMQBUF]]]]
g|:@DHGeHSt@GLLS2X@5XX2XB
CSBINB´PIJQSBUJ¹¾IIBNBN®UBTZWZBZBTZBDB]
Y@sS2XBWL12XRTN2X$J@H-SJ2XB
Â
°°WBUBTZBDBEIBSNBTZBTVLIBTZBJLOUJLBTZBDB]]]]
#IBHBWBE(²UPage 142 of 179
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
FT:`XHUÃ@FX@DF@DM@LBSTC1Y@D7X@X
HV´BUSBZBWJCIHBZPHPONBDBUVSEB°PEIZZBÁ]]]]
#IBHBWBE(²UPage 143 of 179
VO®CY@D7X@X
BUIBQB¸DBEB°PEIZZBÁ
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
=7U1L4KLWY@NLs3Ve@¤Q5XXLÆ
ÄSEIWBNÄMBNBEIBÁ°LIBNB°WBUUIB©QSIVSBWZBZBN]
#-C@HRX2XO:@1HMX2SUDCRUDCHUSÆ
Â
DIBOE©TJZBTZBQBS´OJZBTUB©WFEBTBWFEBWJU]]]]
Wo@D7UeRS@2S2XY@N@
BEIB°DPSEIWB©QSBT®UTUBTZB°LI
FT:eUµ@HUXeU@K@
HV´BQSBW®EEIWJ¹BZBQSBWMÁ]
WoL4K@-XMTR-SS@HM
BEIB°DBNÄMOZBOVTBOUBUOJ
JL@1MTA-W(HMLMTXK@DJD
Â
LBSNOVCBOEI²OJNBOV¹ZBMPLF]]]]
#IBHBWBE(²UPage 144 of 179
MmOL2XDGSV@DOK>XSD
OBSÄQBNBTZFIBUBUIPQBMBCIZBUF
M@-S@DMB@HCM1BR,eHSt@
OOUPOBDEJSOBDBTBNQSBUJ¹¾I]
s3VLDMRTHUm%L4K
B°WBUUIBNFOB©TVWJSĺIBNÄMB©
SSOCS3OHQL@HF1S5X
UBUBÁQBEB©UBUQBSJNSHJUBWZB©
XH2L-FS@MHMUS1H-SÃ4X
ZBTNJOHBUOBOJWBSUBOUJCIÄZBÁ]
SLDUB@
OTkeO
D
UBNFWBDEZB©QVSV¹B©QSBQBEZF]
XSeUH^eRS@OTQ@:(
Â
ZBUBÁQSBW®UUJÁQSBT®UQVS´²]]]]
HML@1ML@DG@HISRØC@D@
OJSNOBNPIKJUBTBµHBEP¹
7X@3LHM3X@HUHMU^J@L@
BEIZUNBOJUZWJOJW®UUBLNÁ]
#IBHBWBE(²UPage 145 of 179
b-b$HU1LTÄ@RTN¯NR\$QÂ
EWBOEWBJSWJNVLUÁTVLIBEVÁLIBTB¸K¸BJS
F"#-3XL4%@OCL5XXSSÆ
Â
HBDDIBOUZBNĺIÁQBEBNBWZBZB©UBU]]]]
MSa@RXSDR4X@D1MYY@@DMO@UJ
OBUBECITBZBUFTÄSZPOB°B°µLPOBQWBLBÁ]
X¶3U@MHMUS1-SDSµ@LOQLLL
Â
ZBEHBUWOBOJWBSUBOUFUBEEINBQBSBNB©NBNB]]]]
LL$U@Y@DI(UK@DJDI(UÃ4SRM@SM
NBNBJW©°PK²WBMPLFK²WBCIÄUBÁTBOUBOBÁ]
LMt@M(H-¸X@H:eJHS2V@HMJ1HS
Â
NBOBÁ¹B¹¾IO²OESJZ´JQSBL®UJTUIOJLBS¹BUJ]]]]
YQ(QXCU@@DHSX×@/XT3Ö@LS(sQ
°BS²SB©ZBEBWQOPUJZBDDQZVULSNBU²°WBSBÁ]
FHG3U$S@HMRX@HSU@XTF1-W@HMU@YX@SÆ
Â
H®IJUWBJUOJTB©ZUJWZVSHBOEIOJW°BZU]]]]
r@D`B<T2OY1MBQRM@:LDUB
°SPUSB©DBL¹VÁTQBS°BOB©DBSBTBOB©HIS´BNFWBDB]
HWt@XLMo@XHUX@MTORDUSD
Â
BEIJ¹¾IZBNBOB°DZB©WJ¹BZOVQBTFWBUF]]]]
#IBHBWBE(²UPage 146 of 179
3Ö@L-SH2VSU@HOÃT@MU@FT:@H-USLÆ
VULSNBOUB©TUIJUB©WQJCIV¸KOB©WHV´OWJUBN]
HUL4%@M@MTO9XH-SO9XH-S\@MB<T
Â
WJNĺIOOVQB°ZBOUJQB°ZBOUJK¸OBDBL¹V¹BÁ]]]]
XS-S@DX@DHFMo$MO9X-3X@3L-XUH2VSLÆ
ZBUBOUPZPHJOB°DBJOB©QB°ZBOUZUNBOZBWBTUIJUBN]
XS-S@D/XJS@3L@M@DM$MO9X-3XBDSR
Â
ZBUBOUPQZBL®UUNOPOBJOB©QB°ZBOUZBDFUBTBÁ]]]]
XC@HC3XFSSDI@DIFa@RXSDHNKLÆ
ZBEEJUZBHBUB©UFKPKBHBECITBZBUFLIJMBN]
X×-¸LHRX×@@$S^DI@DHUHµL@LJLÆ
Â
ZBDDBOESBNBTJZBDDHOBVUBUUFKPWJEEIJNNBLBN]]]]
F@L@HU9XBÃ4S@HMW@QX@,XGL@DIR@
HNWJ°ZBDBCIÄUOJEISBZNZBIBNPKBT]
OT:@HLB@$W(RU@1R@DL@DÃ43U@QR@3LJ
Â
QV¹´NJDBV¹BEI²ÁTBSWÁTPNPCIÄUWSBTUNBLBÁ]]]]
GU$s@MQ@DÃ43U@e@H:M@CDGL@HrS
BIB©WBJ°WOBSPCIÄUWQS´JO©EFIBN°SJUBÁ]
e@:@O@MRL@XTÄOB@,XºBSTHU1WLÆ
Â
QS´QOBTBNZVLUBÁQBDNZBOOB©DBUVSWJEIBN]]]]
#IBHBWBE(²UPage 147 of 179
RU12XB@GzHCRHºHUu@D
TBSWBTZBDIB©I®EJTBOOJWJ¹¾P
L^2LHS\@1MLO@DGM®
NBUUBÁTN®UJSK¸OBNBQPIBOB¸DB]
UDC$oRU$1QGLDUUD
@D
WFEBJ°DBTBSWBJSBIBNFWBWFEZP
UDC@-SJbDCHUCDUB@GLÆ
Â
WFEOUBL®EWFEBWJEFWBDIBN]]]]
b@HUL@$OTk@$K@DJD<Qo@<QUB
EWWJNBVQVSV¹BVMPLFL¹BSB°DL¹BSBFWBDB]
<QRU@1H:Ã4S@HMJP2V@D<Q"XSD
Â
L¹BSBÁTBSW´JCIÄUOJLľBTUIPL¹BSBVDZBUF]]]]
^LOTk23U-XOQL@3LD3XTW@zS
VUUBNBÁQVSV¹BTUWBOZBÁQBSBNUNFUZVEII®UBÁ]
X@DK@DJ`XL@HU9XHAÃ3X15XXsQ
Â
ZPMPLBUSBZBNWJ°ZBCJCIBSUZBWZBZB²°WBSBÁ]]]]
X2L@3<QLS(S@DGL<Q@CHOB@D^L
ZBTNUL¹BSBNBU²UPIBNBL¹BSEBQJDPUUBNBÁ]
S@DH2LK@DJDUDCDBeHVSOTk@D^L
Â
BUPTNJMPLFWFEFDBQSBUIJUBÁQVSV¹PUUBNBÁ]]]]
#IBHBWBE(²UPage 148 of 179
X@DL@LDULR,L4%@DI@M@HSOTk@D^LLÆ
ZPNNFWBNBTBNNĺIPKOUJQVSV¹PUUBNBN]
RRU1HUaIHSL@RU1Ã@UDMÃ@QS
Â
TBTBSWBWJECIBKBUJN©TBSWBCIWFOBCISBUB]]]]
ÅHSFTÐSLY@vHLCLTÄLX@MÇ
JUJHVIZBUBNB©°TUSBNJEBNVLUB©NBZOBHIB]
S·«C7U@ATHµL@-2X@3JSJ3XoÃ@QS
Â
FUBECVEEIWCVEEIJNOTZUL®UBL®UZB°DBCISBUB]]]]
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
OTk@D^LX@DF@DM@LO®CY@D7X@X
QVSV¹PUUBNBZPHPONBQB¸DBEB°PEIZZBÁ]]]]
#IBHBWBE(²UPage 149 of 179
V@DEY@D7X@X
BUIB¹PºB°PEIZZBÁ
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
ÃXR_URYTHµ\@1MX@DF5XUH2VHS
BCIBZB©TBUUWBTB©°VEEIJSK¸OBZPHBWZBWBTUIJUJÁ]
HGR@R3XLÖ@DW23X@FY@H-SQO$YTMLÆ
BIJ©TTBUZBNBLSPEIBTUZHBÁ°OUJSBQBJ°VOBN]
CX@Ã4SDUK@DKTÑUL@C1U¥(QB@OKLÆ
Â
EBZCIÄUF¹WBMPMVQUWB©NSEBWB©IS²SBDQBMBN]]]]
SDI<L@WHSY@$BL¸@DG@DM@HSL@HMS@
UFKBÁL¹BNEI®UJÁ°BVDBNBESPIPOUJNOJU]
ÃUH-SR,OCC$U(LHÃI@S2XÃ@QS
Â
CIBWBOUJTBNQBEB©EBJW²NBCIJKUBTZBCISBUB]]]]
#IBHBWBE(²UPage 150 of 179
C,Ã@DCO@D1HÃL@MoÖ@DWO@kXLDUB
EBNCIPEBSQPCIJNOB°DBLSPEIBÁQSV¹ZBNFWBDB]
\@MB@HÃI@S2XO@V1R,OCL@RTQ(LÆ
Â
BK¸OB©DCIJKUBTZBQSUIBTBNQBEBNTVS²N]]]]
C$U(R,OHbL@D<@XHMA-W@X@RTQ(LS@
EBJW²TBNQBEWJNPL¹ZBOJCBOEIZTVS²NBU]
L@YTBR,OCC$U(LHÃI@S@DHRO@ZEU
Â
N°VDBÁTBNQBEB©EBJW²NBCIJKUPTJQ´ºBWB]]]]
b@$Ã4SRF@$1K@DJDH2L-C$U @RTQUB
EWBVCIÄUBTBSHBVMPLFTNJOEBJWBTVSBFWBDB]
eUH^BHMUH^BIM@MHU¯Q@RTQ@
QSBW®UUJ©DBOJW®UUJ©DBKBOOBWJEVSTVSÁ]
MY@$BM@HOB@B@Q@DMR3XSDTHU
SD
Â
OB°BVDB©OQJDDSPOBTBUZB©UF¹VWJEZBUF]]]]
R3XLeHStSDIFC@¤QM(sQLÆ
BTBUZBNBQSBUJ¹¾IB©UFKBHBEIVSBO²°WBSBN]
OQ2OQR,Ã4SHJL-X3J@LG$STJLÆ
Â
BQBSBTQBSBTBNCIÄUB©LJNBOZBULNBIBJUVLBN]]]]
#IBHBWBE(²UPage 151 of 179
S@}HuLUu>XMu@3L@M@D+OATµX
FU©E®¹¾JNBWB¹¾BCIZBOB¹¾UNOPMQBCVEEIBZBÁ]
eÃU-3XTJL@1:<X@XIFS@DHGS@
Â
QSBCIBWBOUZVHSBLBSN´BÁL¹BZZBKBHBUPIJUÁ]]]]
J@LL@Hr3X¯O4QC,ÃL@MLC@H-US@
LNBN°SJUZBEV¹QÄSB©EBNCIBNOBNBEOWJUÁ]
L@DG@¶¿G(3U@R³@G@-eUS1-SDYTHBpS@
Â
NPIEH®I²UWTBEHSIOQSBWBSUBOUF°VDJWSBUÁ]]]]
HB-S@LOHQLDX@BeKX@-S@LTO@HrS@
DJOUNBQBSJNFZ©DBQSBMBZOUNVQ°SJUÁ]
J@L@DOÃ@DFOQL@S@UHCHSHMHoS@
Â
LNPQBCIPHBQBSBNFUWBEJUJOJ°DJUÁ]]]]
@Y@O@YYS$A1µ@J@LÖ@DWOQ@X:@
°Q°B°BUBJSCBEEIÁLNBLSPEIBQBSZB´Á]
G-SDJ@LÃ@DF@V1L-X@XDM@V1R®X@MÆ
Â
²IBOUFLNBCIPHSUIBNBOZZFOSUIBTB¸DBZO]]]]
ÅCL
LX@K!WHLLe@/2XDLM@DQVLÆ
JEBNBEZBNBZMBCEIBNJNB©QSQTZFNBOPSBUIBN]
ÅCL2S(CLHOLDÃHUXHSOTMW1MLÆ
Â
JEBNBTU²EBNBQJNFCIBWJ¹ZBUJQVOBSEIBOBN]]]]
#IBHBWBE(²UPage 152 of 179
R@$LX@GSY`TG1HMXDB@OQ@MHO
BTBVNBZIBUBÁ°BUSVSIBOJ¹ZFDQBSOBQJ]
sQ@DGLGÃ@DF(HRµ@DGAKU@-RTN(
Â
²°WBSPIBNBIB©CIPH²TJEEIPIB©CBMBWOTVLI²]]]]
@%@DHÃIMU@MH2LJ@D-X@DH2SR}Y@DLX@
ºIZPCIJKBOBWOBTNJLPOZPTUJTBE®°PNBZ]
XyXDC@2X@HLL@DHCXÅ3X\@MHUL@DHGS@
Â
ZBL¹ZFETZNJNPEJ¹ZBJUZBK¸OBWJNPIJUÁ]]]]
MDJHB^HU@-S@L@DGI@KRL@US@
BOFLBDJUUBWJCISOUNPIBKMBTBNW®UÁ]
eRÄ@J@LÃ@DFDTOSH-SMQJDYTB@$
Â
QSBTBLUÁLNBCIPHF¹VQBUBOUJOBSBLF°VDBV]]]]
@3LR,Ã@HUS@2S!W@WML@MLC@H-US@
UNBTBNCIWJUÁTUBCEIEIBOBNOBNBEOWJUÁ]
XI-SDM@LX\$2SDC,ÃDM@HUHWO4U1JLÆ
Â
ZBKBOUFONBZBK¸BJTUFEBNCIFOWJEIJQÄSWBLBN]]]]
GJ@QAKCOJ@LÖ@DWBRHrS@
BIBµLSB©CBMB©EBSQB©LNB©LSPEIB©DBTB©°SJUÁ]
L@L@3LOQCDGDTeHb-S@D>XR4XJ@
Â
NNUNBQBSBEFIF¹VQSBEWJ¹BOUPCIZBTÄZBLÁ]]]]
#IBHBWBE(²UPage 153 of 179
S@MGHbSÖQ@-RR@QDTMQ@WL@MÆ
UOBIB©EWJ¹BUBÁLSVSOTB©TSF¹VOBSEIBNO]
H<O@,XIwLYTÃ@M@RTQ(UDUX@DHMT
Â
L¹JQNZBKBTSBNB°VCIOTVS²¹WFWBZPOJ¹V]]]]
@RTQ(X@DHML@Oº@L4%@I-LHMI-LHM
TVS²©ZPOJNQBOONĺIKBONBOJKBONBOJ]
L@Le@/X$UJ@$-SDXSS@DX@-3XWL@FHSLÆ
Â
NNBQSQZBJWBLBVOUFZBUBUPZOUZBEIBN©HBUJN]]]]
H`HUWMQJ2XDCb@QM@YML@3LM
USJWJEIB©OBSBLBTZFEB©EWSB©O°BOBNUNBOBÁ]
J@LÖ@DW2SV@K@DÃ2S2L@CDS3`X3XIDSÆ
Â
LNBÁLSPEIBTUBUIMPCIBTUBTNEFUBUUSBZB©UZBKFU]]]]
S$HU1LTÄJ@$-SDXSL@Db@Q$HvHÃM1Q
FUBJSWJNVLUBÁLBVOUFZBUBNPEWSBJTUSJCIJSOBSBÁ]
@BQ3X@3LMrDX2SS@DX@HSOQ@FHSLÆ
Â
DBSBUZUNBOBÁ°SFZBTUBUPZUJQBS©HBUJN]]]]
XY@vHUHWLT3R)XUS1SDJ@LJ@QS
ZBÁ°TUSBWJEIJNVUT®KZBWBSUBUFLNBLSBUBÁ]
MRHRHµLU@@DHSMRTNMOQ@FHSLÆ
Â
OBTBTJEEIJNBWQOPUJOBTVLIB©OBQBS©HBUJN]]]]
#IBHBWBE(²UPage 154 of 179
S2L@"#@veL@:SDJ@X@1J@X15XUH2VS@$
UBTNDDITUSB©QSBN´B©UFLSZLSZBWZBWBTUIJUBV]
\@3U@Y@vHUW@M@DÄJL1JST1HLG@G1HR
Â
K¸UW°TUSBWJEIOPLUB©LBSNBLBSUVNJISIBTJ]]]]
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
C$U@RTQR,OHbÃ@FX@DF@DM@L@DEY@D7X@X
EBJWTVSBTBNQBEWJCIHBZPHPONB¹PºB°PEIZZBÁ]]]]
#IBHBWBE(²UPage 155 of 179
VRÏCY@D7X@X
BUIBTBQUBEB°PEIZZBÁ
IT1MU@B
BSKVOBVWDB]
XDY@vHUHWLT3R)XXI-SDrµX@H-US@
ZF°TUSBWJEIJNVUT®KZBZBKBOUF°SBEEIBZOWJUÁ]
SD@HMt@STJ@J:R_UL@G@DQI2SL
Â
UF¹©OJ¹¾IUVLL®¹´BTBUUWBNIPSBKBTUBNBÁ]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
H`HUW@ÃUHSrµ@CDHGM@R@2UÃ@UI@
USJWJEICIBWBUJ°SBEEIEFIJO©TTWBCIWBK]
R@H_UJ(Q@IR(B$US@LR(BDHSS@Y:T
Â
TUUWJL²SKBT²DBJWBUNBT²DFUJU©°®´V]]]]
R_U@MTmO@RU12Xrµ@ÃUHSÃ@QS
TBUUWOVSÄQTBSWBTZB°SBEEICIBWBUJCISBUB]
rµ@LX@DXOTk@DX@DX"µRUR
Â
°SBEEINBZPZB©QVSV¹PZPZBDDISBEEIBÁTBFWBTBÁ]]]]
#IBHBWBE(²UPage 156 of 179
XI-SDR@H_UJ@CDU@-X<Q<@HRQ@IR@
ZBKBOUFTUUWJLEFWOZBL¹BSBL¹©TJSKBTÁ]
eDS@-Ã4SF:@o@-XDXI-SDS@LR@IM@
Â
QSFUOCIÄUBHB´©°DOZFZBKBOUFUNBTKBOÁ]]]]
Y@vHUHGSÇ@DQS/X-SDXDSO@DIM@
B°TUSBWJIJUB©HIPSB©UBQZBOUFZFUBQPKBOÁ]
C,Ã@GJ@QRXTÄ@J@LQ@FAK@H-US@
Â
EBNCIIBµLSBTB©ZVLUÁLNBSHBCBMOWJUÁ]]]]
J1X-SYQ(Q2VÃ4S@LLBDSR
LBS¹BZBOUBÁ°BS²SBTUIB©CIÄUBHSNBNBDFUBTBÁ]
L@B$U@-SYQ(Q2VS@H-Uµ@RTQHMoX@MÆ
Â
N©DBJWOUBÁ°BS²SBTUIB©UOWJEEIZTVSBOJ°DBZO]]]]
@G@Q23UHORU12XH`HUW@DÃUHSHeX
ISBTUWBQJTBSWBTZBUSJWJEIPCIBWBUJQSJZBÁ]
X\2SO2SV@C@MSD@ÃDCHLLY:T
Â
ZBK¸BTUBQBTUBUIEOB©UF¹©CIFEBNJNB©°®´V]]]]
@XTR_UAK@Q@D&XRTNe(HSHUUW1M@
ZVÁTBUUWBCBMSPHZBTVLIBQS²UJWJWBSEIBOÁ]
Q2X@Hx&W@H2VQ@z
@ @G@Q@R@H_UJHeX@
Â
SBTZÁTOJHEIÁTUIJSI®EZISÁTUUWJLBQSJZÁ]]]]
#IBHBWBE(²UPage 157 of 179
JPU,KKU:@3XT:S(y:m<HUC@HGM
LB¾WBNMBMBWB´UZV¹´BU²L¹´BSÄL¹BWJEIJOBÁ]
@G@Q@Q@IR2XDu@¯NY@DJ@LXeC@
Â
ISSKBTBTZF¹¾EVÁLIB°PLNBZBQSBEÁ]]]]
X@SX@LFSQRO4HSOXT1HSBXSÆ
ZUBZNB©HBUBSBTB©QÄUJQBSZV¹JUB©DBZBU]
H"#uLHOB@LD7XÃ@DIMS@LRHeXLÆ
Â
VDDIJ¹¾BNBQJDNFEIZB©CIPKBOB©UNBTBQSJZBN]]]]
K@H<HÃX1\@DHUHW}u@DXÅ)XSD
BQIBMµL¹JCIJSZBK¸PWJEIJE®¹¾PZBJKZBUF]
Xu5XLDUDHSLMRL@W@XRR@H_UJ
Â
ZB¹¾BWZBNFWFUJNBOBÁTBNEIZBTBTUUWJLBÁ]]]]
HÃR-W@XST KC,Ã@V1LHOB$UXSÆ
BCIJTBOEIZBUVQIBMB©EBNCISUIBNBQJDBJWBZBU]
Å)XSDÃQSrDtSX\HUHµQ@IRLÆ
Â
JKZBUFCIBSBUB°SF¹¾IBUB©ZBK¸B©WJEEIJSKBTBN]]]]
HUHWG(MLRu@ºL¼G(MLCH<:LÆ
WJEIJI²OBNBT®¹¾OOB©NBOUSBI²OBNBEBL¹J´BN]
rµ@HUQHGSX\S@LROHQB<SD
Â
°SBEEIWJSBIJUB©ZBK¸B©UNBTB©QBSJDBL¹BUF]]]]
#IBHBWBE(²UPage 158 of 179
CDUHbIFTke@\O4IMY@$BL@I1ULÆ
EFWBEWJKBHVSVQSK¸BQÄKBOB©°BVDBNSKBWBN]
g|BX1LHGR@BY@Q(QSO"XSD
Â
CSBINBDBSZBNBIJ©TDB°S²SB©UBQBVDZBUF]]]]
MTbDFJQU@*XR3XHeXHGSBXSÆ
BOVEWFHBLBSB©WLZB©TBUZB©QSJZBIJUB©DBZBU]
2U@7X@X@>XRMB$UU@LXSO"XSD
Â
TWEIZZCIZBTBOB©DBJWBWµNBZB©UBQBVDZBUF]]]]
LMeR@CR@$,X3UL@$ML@3LHUHMG
NBOBÁQSBTEBÁTBVNZBUWB©NBVOBNUNBWJOJHSBIBÁ]
Ã@URYTHµHQ3XDS^O@DL@MRLT"XSD
Â
CIWBTB©°VEEIJSJUZFUBUUBQPNOBTBNVDZBUF]]]]
rµX@OQX@SÏSO2SH3`HUWMQ$
°SBEEIBZQBSBZUBQUB©UBQBTUBUUSJWJEIB©OBSBJÁ]
K@J@H<HÃXT1Ä$R@H_UJOHQB<SD
Â
BQIBMLµL¹JCIJSZVLUBJÁTUUWJLB©QBSJDBL¹BUF]]]]
R3J@QL@MO4I@VSO@DC,ÃDMB$UXSÆ
TBULSBNOBQÄKSUIB©UBQPEBNCIFOBDBJWBZBU]
HÖXSDSHCGe@DÄQ@IRBKLTULÆ
Â
LSJZBUFUBEJIBQSPLUB©SKBTB©DBMBNBEISVWBN]]]]
#IBHBWBE(²UPage 159 of 179
L4%@GD:@3LM@DX3O(EX@HÖXSDSO
NĺIBHSIF´UNBOPZBUQ²ºBZLSJZBUFUBQBÁ]
OQ2X@D3R@CM@VU@S^@LRLTC@zSLÆ
Â
QBSBTZPUTEBOSUIB©WUBUUNBTBNVEI®UBN]]]]
C@S5XHLHSX´@MC(XSDMTOJ@HQ:D
EUBWZBNJUJZBEEOB©E²ZBUFOVQBLSJ´F]
CDYDJ@KDBO@`DBS´@MR@H_UJ2LSLÆ
Â
EF°FLMFDBQUSFDBUBEEOB©TUUWJLB©TN®UBN]]]]
X^Te3XTOJ@Q@V KLTH´9XU@OTM
ZBUUVQSBUZVQBLSSUIB©QIBMBNVEEJ°ZBWQVOBÁ]
C(XSDBOHQHuS´@MQ@IR2LSLÆ
Â
E²ZBUFDBQBSJLMJ¹¾B©UBEEOB©SKBTB©TN®UBN]]]]
CDYJ@KDX´@MLO@`D>XoC(XSD
BEF°BLMFZBEEOBNBQUSFCIZB°DBE²ZBUF]
R3JSLU\@SS^@LRLTC@zSLÆ
Â
BTBUL®UBNBWBK¸UB©UBUUNBTBNVEI®UBN]]]]
?S3RHCHSHMCD1Y@Dg|:HvHUW2LS
PNUBUTBEJUJOJSEF°PCSBINB´BTUSJWJEIBÁTN®UBÁ]
g@|:@2SDMUDC@oX\@oHUHGS@OTQ@
Â
CSINB´TUFOBWFE°DBZBK¸°DBWJIJUÁQVS]]]]
#IBHBWBE(²UPage 160 of 179
S2L@C@DHL3XTC@z3XX\C@MSOHÖX@
UBTNEPNJUZVEI®UZBZBK¸BEOBUBQBÁLSJZÁ]
eUS1-SDHUW@M@DÄ@RSSg|U@HCM@LÆ
Â
QSBWBSUBOUFWJEIOPLUÁTBUBUB©CSBINBWEJON]]]]
SHC3XMHÃR-W@X KX\SOHÖX@
UBEJUZBOBCIJTBOEIZBQIBMB©ZBK¸BUBQBÁLSJZÁ]
C@MHÖX@oHUHUW@HÖX-SDL@D<J@H<HÃ
Â
EOBLSJZ°DBWJWJEIÁLSJZBOUFNPL¹BLµL¹JCIJÁ]]]]
Ra@UDR@WTÃ@UDBRHC3XDS3eXT)XSD
TBECIWFTEIVCIWFDBTBEJUZFUBUQSBZVKZBUF]
eY2SDJL1H:SV@R"#!CO@V1XT)XSD
Â
QSB°BTUFLBSNB´JUBUITBDDIBCEBÁQSUIBZVKZBUF]]]]
X\DSOHRC@MDBH2VHSRHCHSB@D"XSD
ZBK¸FUBQBTJEOFDBTUIJUJÁTBEJUJDPDZBUF]
JL1B$USCV(1XRHC3XDU@HÃW(XSD
Â
LBSNBDBJWBUBEBSUI²ZB©TBEJUZFWCIJEI²ZBUF]]]]
rµX@¤SC^SO2SÏJSBXSÆ
B°SBEEIBZIVUB©EBUUB©UBQBTUBQUB©L®UB©DBZBU]
RHC3XT"XSDO@V1MBS3eD/XM@DÅG
Â
BTBEJUZVDZBUFQSUIBOBDBUBUQSFQZBOPJIB]]]]
#IBHBWBE(²UPage 161 of 179
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
rµ@`XHUÃ@FX@DF@DM@LRÏCY@D7X@X
°SBEEIUSBZBWJCIHBZPHPONBTBQUBEB°PEIZZBÁ]]]]
#IBHBWBE(²UPage 162 of 179
V@u@CY@D7X@X
BUI¹¾EB°PEIZZBÁ
IT1MU@B
BSKVOBVWDB]
R-X@R2XLG@A@G@DS_UHL"#@HLUDHCSTLÆ
TBOOZTBTZBNBICIPUBUUWBNJDDINJWFEJUVN]
3X@F2XBz(JDYOVÊDHYHM4CM
Â
UZHBTZBDBI®¹²LF°BQ®UIBLLF°JOJ¹ÄEBOB]]]]
r(ÃFU@MTU@B
°S²CIBHBWOVWDB]
J@,X@M@JL1:@-X@RR-X@RJUX@DHU¯
LNZO©LBSNB´©OZTB©TBOOZTB©LBWBZPWJEVÁ]
3X@)XC@DUHC3XDJDJL1e@¤L1M(H:
UZKZB©EP¹BWBEJUZFLFLBSNBQSIVSNBO²¹J´BÁ]
X\C@MSOJL1M3X@)XHLHSB@OQD
Â
ZBK¸BEOBUBQBÁLBSNBOBUZKZBNJUJDQBSF]]]]
#IBHBWBE(²UPage 163 of 179
HMoXY:TLDS`3X@FDÃQSR^L
OJ°DBZB©°®´VNFUBUSBUZHFCIBSBUBTBUUBNB]
3X@F@DHGOTk5X@H`HUWR,eJ(HS1S
Â
UZHPIJQVSV¹BWZHISBUSJWJEIBÁTBNQSBL²SUJUBÁ]]]]
X\C@MSOJL1M3X@)XJ@X1LDUSSÆ
ZBK¸BEOBUBQBÁLBSNBOBUZKZB©LSZBNFWBUBU]
X\@DC@MSOo$UO@UM@HMLM(H:@LÆ
Â
ZBK¸PEOB©UBQB°DBJWBQWBOOJNBO²¹J´N]]]]
S@-XHOSTJL@1H:RØ3X
U@ K@HMB
FUOZBQJUVLBSN´JTBµHB©UZBLUWQIBMOJDB]
JS15X@M(HSLDO@V1HMHoSLSLT^LLÆ
Â
LBSUBWZO²UJNFQSUIBOJ°DJUB©NBUBNVUUBNBN]]]]
HMXS2XSTR-X@RJL1:@DM@DOO
SD
OJZBUBTZBUVTBOOZTBÁLBSNB´POPQBQBEZBUF]
L@DG@^2XOHQ3X@F2S@LROHQJ(HS1S
Â
NPIUUBTZBQBSJUZHBTUNBTBÁQBSJL²SUJUBÁ]]]]
¯NHL3XDUX3JL1J@XDYÃX@_XIDSÆ
EVÁLIBNJUZFWBZBULBSNBLZBLMF°BCIBZUUZBKFU]
J@X1HL3XDUX3JL1HMXSHÖXSDIT1M
LSZBNJUZFWBZBULBSNBOJZBUB©LSJZBUFSKVOB]
MbDuJYKJL1JYKDM@MTÙSD
OBEWF¹¾ZBLV°BMB©LBSNBLV°BMFOOV¹BKKBUF]
3X@F(R_URL@HUu@DLDW@U(H#ºRYX
Â
UZH²TBUUWBTBNWJ¹¾PNFEIW²DIJOOBTB©°BZBÁ]]]]
MHGCDGÃS@Y*X3XÄJL@1ZXYDS
OBIJEFIBCI®U°BLZB©UZBLUV©LBSN´ZB°F¹BUBÁ]
HMuHLuHLrBH`HUWJL1: KLÆ
BOJ¹¾BNJ¹¾B©NJ°SB©DBUSJWJEIB©LBSNB´BÁQIBMBN]
ÃU3X3X@HFM@eD3XMSTR-X@HRM@*UHBSÆ
Â
CIBWBUZBUZHJO©QSFUZBOBUVTBOOZTJO©LWBDJU]]]]
O®$S@HMLG@A@G@DJ@Q:@HMHMA@DWLD
QB¸DBJUOJNBICIPLSB´OJOJCPEIBNF]
R@.XDJS@-SDe@DÄ@HMHRµXDRU1JL1:@LÆ
Â
TµLIZFL®UOUFQSPLUOJTJEEIBZFTBSWBLBSNB´N]]]]
#IBHBWBE(²UPage 165 of 179
HWt@MSV@JS@1JQ:BOVH&UWLÆ
BEIJ¹¾IOB©UBUILBSULBSB´B©DBQ®UIBHWJEIBN]
HUHUW@oOV¨Du@C$UB$U@`O®LLÆ
Â
WJWJEI°DBQ®UIBLDF¹¾EBJWB©DBJWUSBQB¸DBNBN]]]]
YQ(QU@LM@DHÃX13JL1e@QÃSDMQ
°BS²SBWµNBOPCIJSZBULBSNBQSSBCIBUFOBSBÁ]
-X@8XU@HUOQ(SU@O®$SDS2XGDSU
Â
OZZZB©WWJQBS²UB©WQB¸DBJUFUBTZBIFUBWBÁ]]]]
S`$URHSJS@1QL@3L@MJDUKSTX
UBUSBJWB©TBUJLBSUSBNUNOB©LFWBMB©UVZBÁ]
O9X3XJSATHµ3U@ºRO9XHS¯L1HS
Â
QB°ZBUZBL®UBCVEEIJUWOOBTBQB°ZBUJEVSNBUJÁ]]]]
X2XM@GJS@DÃ@U@DATHµX12XMHK/XSD
ZBTZBOIBµL®UPCIWPCVEEIJSZBTZBOBMJQZBUF]
G3U@HORÅL@]¢@DJ@ºGH-SMHMA7XSD
Â
IBUWQJTBJNÖMMPLOOBIBOUJOBOJCBEIZBUF]]]]
\@M\DXOHQ\@S@H`HUW@JL1B@DCM@
K¸OB©K¸FZB©QBSJK¸UUSJWJEILBSNBDPEBO]
JQ:JL1JSD1HSH`HUWJL1RG
Â
LBSB´B©LBSNBLBSUFUJUSJWJEIBÁLBSNBTBµHSBIBÁ]]]]
#IBHBWBE(²UPage 166 of 179
\@MJL1BJS@1BH`W$UFT:ÃDCS
K¸OB©LBSNBDBLBSUDBUSJEIBJWBHV´BCIFEBUBÁ]
e@D"XSDFT:R.X@MDXV@U"#:TS@-XHO
Â
QSPDZBUFHV´BTBµLIZOFZBUIWBDDI®´VUOZBQJ]]]]
RU1Ã4SDTXDM$JÃ@UL5XXL(<SD
TBSWBCIÄUF¹VZFOBJLB©CIWBNBWZBZBN²L¹BUF]
HUÃÄHUÃÄDTS)\@MHUHµR@H_UJLÆ
Â
BWJCIBLUB©WJCIBLUF¹VUBKK¸OB©WJEEIJTUUWJLBN]]]]
OV
UDMSTX)\@MM@M@Ã@U@-OVH&UW@MÆ
Q®UIBLUWFOBUVZBKK¸OB©OOCIWOQ®UIBHWJEIO]
UDH^RUD1TÃ4SDTS)\@MHUHµQ@IRLÆ
Â
WFUUJTBSWF¹VCIÄUF¹VUBKK¸OB©WJEEIJSKBTBN]]]]
X^TJ3xUCDJH2L-J@XD1RÄLG$STJLÆ
ZBUUVL®UTOBWBEFLBTNJOLSZFTBLUBNBIBJUVLBN]
S_U@V1UC+OBS^@LRLTC@zSLÆ
Â
BUBUUWSUIBWBEBMQB©DBUBUUNBTBNVEI®UBN]]]]
HMXSRØQHGSLQ@FbDSJSLÆ
OJZBUB©TBµHBSBIJUBNBSHBEWF¹BUBÁL®UBN]
KeD/RTM@JL1X^3R@H_UJLT"XSD
Â
BQIBMBQSFQTVOLBSNBZBUUBUTUUWJLBNVDZBUF]]]]
#IBHBWBE(²UPage 167 of 179
X^TJ@LD/RTM@JL1R@GJ@QD:U@OTM
ZBUUVLNFQTVOLBSNBTIBµLSF´BWQVOBÁ]
HÖXSDA¤K@X@RS¸@IRLTC@zSLÆ
Â
LSJZBUFCBIVMZTB©UBESKBTBNVEI®UBN]]]]
MTA-W<XHGR@LMODyXBO@$kLÆ
BOVCBOEIB©L¹BZB©IJ©TNBOBQFL¹ZBDBQBVSV¹BN]
L@DG@C@Q>XSDJL1X^^@LRLT"XSD
Â
NPIESBCIZBUFLBSNBZBUUBUUNBTBNVDZBUF]]]]
LTÄRØ@DMGU@C(W3XT3R@GRLH-US
NVLUBTBµHPOBIB©WE²EI®UZVUTIBTBNBOWJUBÁ]
HRµHRµ@DHM1HU1J@QJS@1R@H_UJ"XSD
Â
TJEEIZBTJEEIZPSOJSWJLSBÁLBSUTUUWJLBVDZBUF]]]]
Q@F(JL1 KeD/RTKT1!W@DHGR@3LJ@DYTHB
SH²LBSNBQIBMBQSFQTVSMVCEIPIJ©TUNBLP°VDJÁ]
G1Y@DJ@H-USJS@1Q@IROHQJ(HS1S
Â
IBS¹B°PLOWJUBÁLBSUSKBTBÁQBSJL²SUJUBÁ]]]]
XTÄe@JS2S!WY0@DM$JHSJ@DKR
BZVLUBÁQSL®UBÁTUBCEIBÁ°B¾IPOBJ¹L®UJLPMBTBÁ]
HU@C(C(Ç1R4`(BJS@1S@LR"XSD
Â
WJ¹E²E²SHIBTÄUS²DBLBSUUNBTBVDZBUF]]]]
#IBHBWBE(²UPage 168 of 179
ATµDÃD1CWSDo$UFT:SHvHUWY:T
CVEEIFSCIFEB©EI®UF°DBJWBHV´BUBTUSJWJEIB©°®´V]
e@D"XL@MLYDD:OV
UDMWMX
Â
QSPDZBNOBNB°F¹F´BQ®UIBLUWFOBEIBOB¸KBZB]]]]
eUH^BHMUH^BJ@X@1J@XD1ÃX@ÃXD
QSBW®UUJ©DBOJW®UUJ©DBLSZLSZFCIBZCIBZF]
A-WL@D<BX@UDH^ATHµR@O@V1R@H_UJ(
Â
CBOEIB©NPL¹B©DBZWFUUJCVEEIJÁTQSUIBTUUWJL²]]]]
XX@WL1LWLBJ@XB@J@X1LDUB
ZBZEIBSNBNBEIBSNB©DBLSZB©DLSZBNFWBDB]
XV@U3eI@M@HSATHµR@O@V1Q@IR(
Â
BZBUIWBUQSBKOUJCVEEIJÁTQSUIBSKBT²]]]]
WLWL1HLHSX@L-XSDSLR@US@
BEIBSNB©EIBSNBNJUJZNBOZBUFUBNBTW®U]
RU@1V@1H-UOQ(S@oATHµR@O@V1S@LR(
Â
TBSWSUIOWJQBS²U©°DBCVEEIJÁTQSUIBUNBT²]]]]
W3X@XX@W@QXSDLMe@:DH-¸XHÖX@
EI®UZZBZEISBZBUFNBOBÁQS´FOESJZBLSJZÁ]
X@DFDM@5XHÃB@HQZX@WHSR@O@V1R@H_UJ(
Â
ZPHFOWZBCIJDSJ´ZEI®UJÁTQSUIBTUUWJL²]]]]
#IBHBWBE(²UPage 169 of 179
XX@STWL1J@L@V@1-W3X@W@QXSDIT1M
ZBZUVEIBSNBLNSUIOEI®UZEISBZBUFSKVOB]
XX@2UÃXY@DJHU@CLCLDUB
ZBZTWBQOB©CIBZB©°PLB©WJ¹EB©NBEBNFWBDB]
MHULT®HS¯LD1W@WHSR@O@V1S@LR(
Â
OBWJNV¸DBUJEVSNFEIEI®UJÁTQSUIBUNBT²]]]]
RTNH3UC@M(H`HUWY:TLDÃQS1Ã
TVLIB©UWJEO²©USJWJEIB©°®´VNFCIBSBUBS¹BCIB]
>X@R@¸LSDX`¯N@-SBHMF"#HS
Â
BCIZTESBNBUFZBUSBEVÁLIOUB©DBOJHBDDIBUJ]]]]
X^CDHUHLUOHQ:@LDLS@DOLLÆ
ZBUUBEBHSFWJ¹BNJWBQBSJ´NFN®UPQBNBN]
S3RTNR@H_UJe@DÄL@3LATHµeR@CILÆ
Â
UBUTVLIB©TUUWJLB©QSPLUBNUNBCVEEIJQSBTEBKBN]]]]
HUXDH-¸XRX@DF@
^CDLS@DOLLÆ
WJ¹BZFOESJZBTB©ZPHEZBUUBEBHSFN®UPQBNBN]
OHQ:@LDHUHLUS3RTNQ@IR2LSLÆ
Â
QBSJ´NFWJ¹BNJWBUBUTVLIB©SKBTB©TN®UBN]]]]
#IBHBWBE(²UPage 170 of 179
XCDB@MTA-WDBRTNL@DGML@3LM
ZBEBHSFDOVCBOEIFDBTVLIB©NPIBOBNUNBOBÁ]
HM¸@K2XeL@C@D3VS^@LRLTC@zSLÆ
Â
OJESMBTZBQSBNEPUUIB©UBUUNBTBNVEI®UBN]]]]
MSCH2SOHV5X@U@HCHUCDUDTU@OTM
OBUBEBTUJQ®UIJWZ©WEJWJEFWF¹VWQVOBÁ]
R_UeJHSI$LT1ÄXCDHÃ2X@H3`HÃFT1:$
Â
TBUUWB©QSBL®UJKBJSNVLUB©ZBEFCIJÁTZUUSJCIJSHV´BJÁ]]]]
g@|:<H`XHUY@Y4¸@:@BOQ-SO
CSINB´BL¹BUSJZBWJ°©°ÄES´©DBQBSBOUBQB]
JL@1H:eHUÃÄ@HM2UÃ@UeÃU$FT1:$
Â
LBSN´JQSBWJCIBLUOJTWBCIWBQSBCIBWBJSHV´BJÁ]]]]
YL@DCL2SOY@$B<@H-SQ@I1ULDUB
°BNPEBNBTUBQBÁ°BVDB©L¹OUJSSKBWBNFWBDB]
\@MHU\@ML@H2S*Xg|JL12UÃ@UILÆ
Â
K¸OB©WJK¸OBNTUJLZB©CSBINBLBSNBTWBCIWBKBN]]]]
Y@$XSDI@DWHSC@1yXXTµDB@/XOK@XMLÆ
°BVSZB©UFKPEI®UJSEL¹ZB©ZVEEIFDQZBQBMZBOBN]
C@ML(sQÃ@Uo<@`JL12UÃ@UILÆ
Â
EOBN²°WBSBCIWB°DBL¹USB©LBSNBTWBCIWBKBN]]]]
#IBHBWBE(²UPage 171 of 179
JHF@$QyXU@H:)XU$9XJL12UÃ@UILÆ
L®¹JHBVSBL¹ZBW´JKZB©WBJ°ZBLBSNBTWBCIWBKBN]
OHQBX@13LJJL1Y4¸2X@HO2UÃ@UILÆ
Â
QBSJDBSZUNBLB©LBSNB°ÄESBTZQJTWBCIWBKBN]]]]
2UD2UDJL1ZXHÃQSRHRHµKÃSDMQ
TWFTWFLBSNB´ZBCIJSBUBÁTB©TJEEIJ©MBCIBUFOBSBÁ]
2UJL1HMQSHRHµXV@HU-CHSS"#:T
Â
TWBLBSNBOJSBUBÁTJEEIJ©ZBUIWJOEBUJUBDDI®´V]]]]
XSeUH^Ã41S@M@XDMRU1HLCSSLÆ
ZBUBÁQSBW®UUJSCIÄUO©ZFOBTBSWBNJEB©UBUBN]
2UJL1:@SL>X"X1HRHµHU-CHSL@MU
Â
TWBLBSNB´UBNBCIZBSDZBTJEEIJ©WJOEBUJNOBWBÁ]]]]
rDX@-2UWL@D1HUFT:OQWL@132UMTHtS@SÆ
°SFZOTWBEIBSNPWJHV´BÁQBSBEIBSNUTWBOV¹¾IJUU]
2UÃ@UHMXSJL1JU1º@@DHSHJH+ALÆ
Â
TWBCIWBOJZBUB©LBSNBLVSWBOOQOPUJLJMCJ¹BN]]]]
RGIJL1J@$-SDXRC@DLHOM3XIDSÆ
TBIBKB©LBSNBLBVOUFZBTBEP¹BNBQJOBUZBKFU]
RU@1Q,Ã@HGC@DD:W4LDM@HHQU@US@
Â
TBSWSBNCIIJEP¹F´BEIÄNFOHOJSJWW®UÁ]]]]
#IBHBWBE(²UPage 172 of 179
RÄATHµRU1`HIS@3L@HUFS2OG
BTBLUBCVEEIJÁTBSWBUSBKJUUNWJHBUBTQ®IBÁ]
M$J,X1HRHµOQL@R-X@RDM@HWF"#HS
Â
OBJ¹LBSNZBTJEEIJ©QBSBN©TBOOZTFOEIJHBDDIBUJ]]]]
HRHµe@Ï@DXV@g|SV@@DHSHMA@DWLD
TJEEIJ©QSQUPZBUICSBINBUBUIQOPUJOJCPEIBNF]
RL@RDM$UJ@$-SDXHMt@\@M2XX@OQ@
Â
TBNTFOBJWBLBVOUFZBOJ¹¾IK¸OBTZBZQBS]]]]
ATµ@HUYTµX@XTÄ@DW3X@3L@MHMX,XB
CVEEIZWJ°VEEIBZZVLUPEI®UZUNOB©OJZBNZBDB]
Y!C@C(H-UX@23X
U@Q@FbD@$5XTC2XB
Â
°BCEE²OWJ¹BZ©TUZBLUWSHBEWF¹BVWZVEBTZBDB]]]]
HUHUÄRDU(KÀU@Y(XSU@Ê@XL@MR
WJWJLUBTFW²MBHIW°²ZBUBWLLZBNOBTBÁ]
7X@MX@DFOQ@DHM3XU$Q@&XRLTO@HrS
Â
EIZOBZPHBQBSPOJUZB©WBJSHZB©TBNVQ°SJUBÁ]]]]
GJ@QAKCOJ@LÖ@DWOHQGLÆ
BIBµLSB©CBMB©EBSQB©LNB©LSPEIB©QBSJHSBIBN]
HULT"XHML1LY@-S@Dg|Ã4X@XJ+OSD
Â
WJNVDZBOJSNBNBÁ°OUPCSBINBCIÄZZBLBMQBUF]]]]
#IBHBWBE(²UPage 173 of 179
g|Ã4SeRº@3L@MY@DBHSMJ@<HS
CSBINBCIÄUBÁQSBTBOOUNOB°PDBUJOBLµL¹BUJ]
RLRUD1TÃ4SDTLaHÄKÃSDOQ@LÆ
Â
TBNBÁTBSWF¹VCIÄUF¹VNBECIBLUJ©MBCIBUFQBSN]]]]
Ã
X@L@LHÃI@M@HSX@U@-Xo@H2LS_US
CIBLUZNNBCIJKOUJZWOZB°DTNJUBUUWBUBÁ]
SS@DL@S_US@D\@3U@HUYSDSCM-SQLÆ
Â
UBUPN©UBUUWBUPK¸UWWJ°BUFUBEBOBOUBSBN]]]]
RU1JL@1ZXHORC@JU@1:@DLO@rX
TBSWBLBSN´ZBQJTBELVSW´PNBEWZBQ°SBZBÁ]
L3eR@C@CU@@DHSY@sSOCL5XXLÆ
Â
NBUQSBTEEBWQOPUJ°°WBUB©QBEBNBWZBZBN]]]]
BDSR@RU1JL@1H:LHXR-X2XL3OQ
DFUBTTBSWBLBSN´JNBZJTBOOZBTZBNBUQBSBÁ]
ATHµX@DFLTO@Hr3XLH×^RSSÃU
Â
CVEEIJZPHBNVQ°SJUZBNBDDJUUBÁTBUBUB©CIBWB]]]]
LH×^RU1¯F@1H:L3eR@C@^HQXHR
NBDDJUUBÁTBSWBEVSH´JNBUQSBTEUUBSJ¹ZBTJ]
VBD_ULGJ@Q@ºr@DXHRHUMyXHR
Â
BUIBDFUUWBNBIBµLSOOB°SP¹ZBTJWJOBµL¹ZBTJ]]]]
#IBHBWBE(²UPage 174 of 179
XCGJ@QL@Hr3XMX@D32XÅHSL-XRD
ZBEBIBµLSBN°SJUZBOBZPUTZBJUJNBOZBTF]
HL6X$5XUR@X2SDeJHS23U@HMX@DyXHS
Â
NJUIZBJ¹BWZBWBTZBTUFQSBL®UJTUW©OJZPL¹ZBUJ]]]]
2UÃ@UIDMJ@$-SDXHMAµ2UDMJL1:@
TWBCIWBKFOBLBVOUFZBOJCBEEIBÁTWFOBLBSNB´]
JSTMD"#HRX-L@DG@3JHQX2XUY@DHOSSÆ
Â
LBSUV©OFDDIBTJZBONPIULBSJ¹ZBTZBWB°PQJUBU]]]]
sQRU1Ã4S@M@z´DYDIT1MHStHS
²°WBSBÁTBSWBCIÄUO©I®EEF°FSKVOBUJ¹¾IBUJ]
@LX-RU1Ã4S@HMX¼@m%@HML@XX@
Â
CISNBZBOTBSWBCIÄUOJZBOUSSĺIOJNZBZ]]]]
SLDUYQ:F"#RU1Ã@UDMÃ@QS
UBNFWB°BSB´B©HBDDIBTBSWBCIWFOBCISBUB]
S3eR@C@3OQ@Y@H-S2V@Me@/2XHRY@sSLÆ
Â
UBUQSBTEUQBS©°OUJ©TUIOB©QSQTZBTJ°°WBUBN]]]]
ÅHSSD\@ML@.X@SFTÐ@¶«ÐSQLX@
JUJUFK¸OBNLIZUB©HVIZEHVIZBUBSB©NBZ]
HUL9X$SCYDD:XVD"#HRSV@Jk
Â
WJN®°ZBJUBEB°F¹F´BZBUIFDDIBTJUBUILVSV]]]]
#IBHBWBE(²UPage 175 of 179
RU1FTÐSLÃ4XY:TLDOQLUB
TBSWBHVIZBUBNB©CIÄZBÁ°®´VNFQBSBNB©WBDBÁ]
Åu@DHRLD}%HLHSSS@DUyX@HLSDHGSLÆ
Â
J¹¾PTJNFE®ºIBNJUJUBUPWBL¹ZNJUFIJUBN]]]]
L-LM@ÃULaÄ@DL
@I(L@ML2Jk
NBONBOCIBWBNBECIBLUPNBEZK²N©OBNBTLVSV]
L@LDU$XHRR3XSDeHSI@MDHeX@DHRLD
Â
NNFWBJ¹ZBTJTBUZB©UFQSBUJKOFQSJZPTJNF]]]]
RU1WL@1-OHQ3X)XL@LDJYQ:pI
TBSWBEIBSNOQBSJUZBKZBNNFLB©°BSB´B©WSBKB]
G3U@RU1O@OD>X@DL@DyXHXX@HLL@YTB
Â
BIB©UW©TBSWBQQFCIZPNPL¹ZBZJ¹ZNJN°VDBÁ]]]]
ÅCSDM@SO2J@XM@ÃÄ@XJC@BM
JEB©UFOUBQBTLZBOCIBLUZBLBEDBOB]
MB@YTr4UDU@"XMBL@X@D>XR4XHS
Â
OBD°V°SĹBWFWDZB©OBDBN©ZPCIZBTÄZBUJ]]]]
XÅCOQLFTÐLaÄDUHÃW@2XHS
ZBJEB©QBSBNB©HVIZB©NBECIBLUF¹WBCIJEITZBUJ]
ÃHÄLHXOQ@J3U@L@LDU$X3XRYX
Â
CIBLUJ©NBZJQBS©L®UWNNFWBJ¹ZBUZBTB©°BZBÁ]]]]
#IBHBWBE(²UPage 176 of 179
MBS2L@-LMTXDTJHo-LDHeXJ^L
OBDBUBTNONBOV¹ZF¹VLB°DJONFQSJZBL®UUBNBÁ]
ÃHUS@MBLDS2L@C-XHeXSQ@DÃTHU
Â
CIBWJUOBDBNFUBTNEBOZBÁQSJZBUBSPCIVWJ]]]]
7XDXSDBXÅLW,XRU@CL@UX@D
BEIZF¹ZBUFDBZBJNB©EIBSNZB©TB©WEBNWBZPÁ]
\@MX\DMSDM@GHLu2X@HLHSLDLHS
Â
K¸OBZBK¸FOBUFOIBNJ¹¾BÁTZNJUJNFNBUJÁ]]]]
rµ@U@MMR4XoY:TX@CHOX@DMQ
°SBEEIWOBOBTÄZB°DB°®´VZEBQJZPOBSBÁ]
R@DHOLTÄYTÃ@]¢@DJ@-e@TX@3OTZXJL1:@LÆ
Â
TPQJNVLUBÁ°VCIÖMMPLOQSQOVZUQV´ZBLBSNB´N]]]]
JH×CDS"«SO@V13UX$J@D:BDSR@
LBDDJEFUBDDISVUB©QSUIBUWBZBJLHSF´BDFUBT]
JH×C\@MR,L@DGeMu2SDWMX
Â
LBDDJEBK¸OBTBNNPIBÁQSBOB¹¾BTUFEIBOB¸KBZB]]]]
#IBHBWBE(²UPage 177 of 179
IT1MU@B
BSKVOBVWDB]
Mu@DL@DG2LHSK1!W@3U3eR@C@-LX@"XTS
OB¹¾PNPIBÁTN®UJSMBCEIUWBUQSBTEONBZDZVUB]
H2VS@DH2LFSR-CDGJHQXDUBMSU
Â
TUIJUPTNJHBUBTBOEFIBÁLBSJ¹ZFWBDBOB©UBWB]]]]
RXU@B
TB¸KBZBVWDB]
Å3XGU@RTCDU2XO@V12XBLG@3LM
JUZBIB©WTVEFWBTZBQSUIBTZBDBNBIUNBOBÁ]
RU@CHLLLr@$La«SQ@DLG1:LÆ
Â
TB©WEBNJNBNB°SBV¹BNBECIVUB©SPNBIBS¹B´BN]]]]
5X@ReR@C@"«SU@MDS¶«ÐLGOQLÆ
WZTBQSBTEDDISVUBWOFUBEHVIZBNBIB©QBSBN]
X@DFX@DFDsQ@3J:@3R@<@3JVXS2UXLÆ
Â
ZPHB©ZPHF°WBSUL®¹´UTL¹ULBUIBZBUBÁTWBZBN]]]]
Q@I-R2L3XR2L3XRU@CHLLLa«SLÆ
SKBOTB©TN®UZBTB©TN®UZBTB©WEBNJNBNBECIVUBN]
JDYU@IT1MX@DOTZXzX@HLBLT¤LT1¤
Â
LF°BWSKVOBZPÁQV´ZB©I®¹ZNJDBNVIVSNVIVÁ]]]]
#IBHBWBE(²UPage 178 of 179
S×R2L3XR2L3XmOL3Xa«SGQD
UBDDBTB©TN®UZBTB©TN®UZBSÄQBNBUZBECIVUB©IBSFÁ]
HU2LX@DLDLG@MÆQ@I-zX@HLBOTMOTM
Â
WJTNBZPNFNBIOSKBOI®¹ZNJDBQVOBÁQVOBÁ]]]]
X`X@DFDsQJ:@DX`O@V@D1WMTW1Q
ZBUSBZPHF°WBSBÁL®¹´PZBUSBQSUIPEIBOVSEIBSBÁ]
S`r(HU1IX@DÃ4HST1U@M(HSL1HSL1L
Â
UBUSB°S²SWJKBZPCIÄUJSEISVWO²UJSNBUJSNBNB]]]]
?S3RHCHSr(LaFU¶(S@R4OHM3RT
PNUBUTBEJUJ°S²NBECIBHBWBEH²UTÄQBOJ¹BUTV
g|HU
@X@X@DFY@vDr(J:@IT1MRU@CD
CSBINBWJEZZ©ZPHB°TUSF°S²L®¹´SKVOBTB©WEF
?
PN
#IBHBWBE(²UPage 179 of 179
Y@-S@J@QÃTIFYXMO¹M@ÃRTQDYLÆ
°OULSB©CIVKBHB°BZBOB©QBENBOCIB©TVSF°BN]
HUs@W@QFFMR}YLDÇU:YTÃ@FLÆ
WJ°WEISB©HBHBOBTBE®°B©NFHIBWBS´B©°VCIµHBN]
KyL(J@-SJLKMXMX@DF(HÃ7X@1MF,XLÆ
MBL¹N²LOUB©LBNBMBOBZBOB©ZPH²CIJSEIZOBHBNZBN]
U-CDHU:TÃUÃXGQRU1K@DJ$JM@VLÆ
WBOEFWJ¹´V©CIBWBCIBZBIBSB©TBSWBMPLBJLBOUIBN]]