Sie sind auf Seite 1von 68

1R IRU

SOHDVXUH

 JLIW WDJV


6WLWFK \RXU RZQ VSHFLDO JUHHWLQJV

/$'<
0$5<
67 &+ +(
'2:1721
+(5(66

'HFHPEHU  VVXH 


        

(;&/869(

 

'(6*16

1(:
)($785(
/HDUQ FUHDWLYH %ODFNZRUN
WHFKQLTXHV ZLWK 6XVDQ 3HQQ\

/RYH RXU ELJ VQXJJO\ EHDU


E\ 'XUHQH -RQHV

6($621$/
621*%5'6

 

Q WKLV LVVXH
'HVLJQV WR VWLWFK










)HVWLYH DSURQ 7KLV FRORXUIXO


SLQQ\ ZLOO EULJKWHQ XS WKH
NLWFKHQ RQ &KULVWPDV GD\
:LQWHU ZDUPHU &XGGOH XS
ZLWK WKLV KRW ZDWHU ERWWOH FRYHU
*ODVVHV FRV\ .HHS \RXU VSHFV
VDIH DQG VW\OLVK LQ WKLV FDVH
&HOHVWLDO DQJHO 6WUHWFK \RXU
VWLWFKLQJ VNLOOV ZLWK WKLV LQWULFDWH
EDFNVWLWFK GHVLJQ
7KH 7R\ 6KRS :HG ORYH WR GR
RXU &KULVWPDV VKRSSLQJ LQ WKLV
VKRS GHVLJQHG E\ 0DULD 'LD]
6LOHQW QLJKW 6HQG WKLV SODTXH
DV D FDUG RU XVH DV D GHFRUDWLRQ

 :LQWHU VRQJELUGV %ULQJ


D WRXFK RI ZLQWHU ZLOGOLIH LQVLGH
 +DUGDQJHU &KULVWPDV +DYH
IXQ ZLWK 1RUZHJLDQ FXWZRUN
 +HU ODG\VKLS 0DNH \RXU RZQ
/DG\ 0DU\ &UDZOH\ PLQL FXVKLRQ
 0HUU\ VWLWFKHV 0DNH WKLV
SOD\IXO &KULVWPDV VDPSOHU
 3UHWW\ IUDJUDQW :UDS D ERWWOH
RI SHUIXPH LQ WKLV SRXFK
 6DQWDV ZDVKLQJ OLQH 7KLV IXQ
FDUG ZLOO VSUHDG &KULVWPDV FKHHU
 7DJJHG ZLWK ORYH 0DNH \RXU
SUHVHQWV VWDQG RXW XQGHU WKH
WUHH ZLWK WKHVH EHDXWLIXO JLIW WDJV

6WLWFKLQJ QVSLUDWLRQ

*LYHDZD\V 2IIHUV

'HFHPEHU &ROOHFWLRQ ([FLWLQJ


QHZV JRUJHRXV NLWV LQVSLUDWLRQ
UHDO VWLWFKLQJ VWRULHV DQG PRUH
 -DQH *UHHQRIIV SDJH 7KH
PLJKW\ DFRUQ LV QH[W LQ -DQHV
SULQWLQJ WUD\ VDPSOHU VHULHV
 0\ VWLWFKLQJ ZHHNHQG 5HDG
DERXW 6XVDQ 5\GHUV OLIH LQ FURVV
VWLWFK GHVLJQ
 1H[W PRQWK *HW D VQHDN SHHN
DW DOO RXU SURMHFWV IRU -DQXDU\
LQFOXGLQJ D ' 6FRWWLVK FDVWOH

 <RXU OHWWHUV :LQ D SUL]H


E\ VKDULQJ \RXU FURVV VWLWFK
VWRULHV DQG SLFWXUHV
 &RPSHWLWLRQ WLPH :HYH JRW
SUL]HV ZRUWK RYHU e WR JLYH
DZD\ WR UHDGHUV
 6XEVFULEH 6DYH  RQ WKH
VKRS SULFH ZLWK RXU IDQWDVWLF
RIIHU DQG QHYHU PLVV DQ LVVXH
 %UHDN WLPH 5HOD[ DQG HQMR\
RXU FURVVZRUG <RX FRXOG ZLQ
D IDEXORXV VHW RI FDUGV

&ROOHFWLRQ (VVHQWLDOV
 6KRSSLQJ &ROOHFWLRQ 6HHQ
VRPHWKLQJ WKDWV LQVSLUHG \RX"
)LQG RXW ZKHUH \RX FDQ EX\ LW
 %DFN LVVXHV DQG ELQGHUV
:KDW GR \RX QHHG WR FRPSOHWH
\RXU FROOHFWLRQ"
 6WLWFK EDVLFV RXU JXLGH ZLOO
VKRZ \RX KRZ WR JHW VWDUWHG
RQ WKLV PRQWKV SURMHFWV









'HFHPEHU 



:HOFRPH
$V &KULVWPDV DSSURDFKHV LWV WKDW WLPH RI \HDU ZKHQ VWLWFKHUV
OLNH WR JR WR WRZQ FUDIWLQJ FDUGV WR VHQG WR WKHLU QHDUHVW DQG
GHDUHVW +HUH DW PDJD]LQH +4 ZH ORYH &KULVWPDV FDUGV DQG
EHLQJ DEOH WR KDQGVWLWFK RXU FDUGV PDNHV WKHP VXFK D VSHFLDO
DQG HQMR\DEOH WUDGLWLRQ :KHQ WKH SRVW DUULYHV LQ 'HFHPEHU
VRPHKRZ RXU GD\ VHHPV EULJKWHU ZLWK OLWWOH QRWHV RI JUHHWLQJ



ILOOLQJ HDFK FDUG DQG WKH KRSH WKDW RXU FDUGV ZLOO GR WKH VDPH
IRU RWKHUV 7KHVH GD\V HPDLOV DQG WH[WV KDYH RIWHQ WDNHQ RYHU
HYHU\GD\ PHVVDJHV VR ZHUH GHOLJKWHG WKDW FDUGV DUH VWLOO D YHU\
LPSRUWDQW SDUW RI WKH &KULVWPDV FHOHEUDWLRQV
Q WKDW VSLULW ZHYH ILOOHG WKLV LVVXH ZLWK FDUGV WR VWLWFK DQG
VHQG DQG SOHQW\ RI RWKHU IHVWLYH WUHDWV SOXV LI \RX HQWHU WKH
SUL]H FURVVZRUG WKLV PRQWK \RX FRXOG ZLQ D EXQGOH RI FDUG
EODQNV WR ILQLVK \RXU IHVWLYH GHVLJQV RII LQ VW\OH
7KH ZKROH WHDP ZRXOG OLNH WR ZLVK HYHU\ VLQJOH UHDGHU D
KDSS\ SHDFHIXO DQG FUHDWLYH &KULVWPDV DQG 1HZ <HDU :H PD\
QRW EH DEOH WR VHQG \RX FDUGV LQGLYLGXDOO\ EXW ZH FDQ JLYH \RX
WKH PDJD]LQH ZLWK RXU KRSH WKDW WKLV VHDVRQ EULQJV \RX PXFK
MR\ DQG WKDW 6DQWD OHDYHV \RX D VWRFNLQJ ILOOHG ZLWK \RXU
IDYRXULWH VWLWFKLQJ JRRGLHV






6XVDQ 0DUWLQ 3HQQ\


(GLWRUV

0DNH VXUH \RX FDWFK HYHU\


EHDXWLIXO VWLWFKLQJ SURMHFW
LQ &URVV 6WLWFK &ROOHFWLRQ
E\ VLJQLQJ XS IRU
D VXEVFULSWLRQ 1RW RQO\
ZLOO \RX JHW  LVVXHV D \HDU
GHOLYHUHG GLUHFW WR \RXU
GRRU EXW \RXOO DOVR VDYH
 ZLWK RXU VXEVFULSWLRQ
R HUV WXUQ WR SDJH 
WR QG RXW KRZ \RX FRXOG
VDYH XS WR e

'HFHPEHU 

'HFHPEHU &ROOHFWLRQ

'HFHPEHU 
RULD DQG $OEHUW 0XVHXP /RQGRQ

%H LQVSLUHG E\ QHZ NLWV JUHDW LGHDV DQG PRUH IURP WKH YLEUDQW VWLWFKLQJ ZRUOG

7KH WH[WLOHV ZHUH


VKDSHG E\ QGLDV
QDWXUDO UHVRXUFHV

)LQG RXW KRZ WKHVH VNLOOV PDWFK XS

WR UHYHO LQ WKH VXPSWXRXVQHVV RI

ZLWK WKH LPDJLQDWLRQV RI VNLOOHG

QGLDV WH[WLOH KHULWDJH DW WKH 9LFWRULD

FUDIWVSHRSOH ZRUNLQJ WR FUHDWH

DQG $OEHUW PXVHXP 'UDZLQJ IURP

DVWRQLVKLQJ EDFNGURSV IRU UR\DOW\

LWV RZQ LPSUHVVLYH FROOHFWLRQV DV

VDFUHG SLHFHV IRU SODFHV RI ZRUVKLS

ZHOO DV LWHPV ERUURZHG IURP DFURVV

DQG E\ WUDGHUV ORRNLQJ WR PHHW WKH

WKH ZRUOG WKH 9 $ LQ /RQGRQ LV

GHVLUHV RI EX\HUV LQ (XURSH $VLD

VKRZFDVLQJ PRUH WKDQ  LWHPV

DQG RWKHU LQWHUQDWLRQDO PDUNHWV

FUHDWHG IURP QGLDV TXLQWHVVHQWLDO

<RXOO DOVR JHW WR VHH QHZHU

KDQGPDGH IDEULFV GDWLQJ IURP WKH

SLHFHV E\ QGLDV PRVW

UG FHQWXU\ WR WKH SUHVHQW GD\ 7KH

LQQRYDWLYH PRGHUQ

)DEULF RI QGLD H[KLELWLRQ LV SDUW RI

GHVLJQHUV DQG PDNHUV

WKH 9 $ QGLD )HVWLYDO DQG ZH WKLQN

+RZ LQVSLULQJ

LWV D JORULRXV LGHD <RXOO EH DEOH WR

7KH )DEULF RI QGLD

GLVFRYHU KRZ WKH FRXQWU\V QDWXUDO

H[KLELWLRQ VXSSRUWHG

UHVRXUFHV DUH KDUQHVVHG WR PDNH

E\ *RRG (DUWK UXQV

DQG GHFRUDWH FORWKV XVHG LQ

XQWLO  -DQXDU\ 

UHOLJLRXV FHUHPRQLHV DQG SUDFWLFDO

<RX FDQ EX\ WLFNHWV

HYHU\GD\ REMHFWV DQG IDVKLRQV

IRU e RQOLQH DW

XWLOLVLQJ WKH VNLOOV RI FXOWLYDWRUV

ZZZYDPDFXN

ZHDYHUV G\HUV SULQWHUV DQG

IDEULFRILQGLD RU FDOO

RI FRXUVH HPEURLGHUHUV

  

'HFHPEHU 

7KH ROGHVW IDEULFV


RQ VKRZ GDWH IURP
WKH UG FHQWXU\
-DFNHW k 9LFWRULD DQG $OEHUW 0XVHXP /RQGRQ

8QWLO  -DQXDU\  \RXOO EH DEOH

k $EUDKDP 7KDNRUH

7DQWDOLVLQJ WH[WLOHV

'HFHPEHU &ROOHFWLRQ


2QOLQH VWLWFKLQJ VWDUV
RI D WK FHQWXU\ 5HWLFHOOD ODFH DOSKDEHW DQG
DFFRPSDQ\LQJ PRWLIV 7KH ORZHU SRUWLRQ RI WKH
VDPSOHU FRQWDLQV D ZLGH EDQG RI ZKDW DSSHDUV
WR EH 5HWLFHOOD ODFH ORRSV H\HOHWV SLFRWV DQG RWKHU
VKDSHV DOO FUHDWHG ZLWK VLPSOH EDFNVWLWFK DQG
VWUDLJKW VWLWFKHV

([SORUH WKH ZRUOG RI VDPSOHUV


DQG ELEOLFDO FURVV VWLWFK GHVLJQ
ZLWK 'HERUDK DW KHU 7HPSWLQJ
7DQJOHV EORJ

:K\ GLG \RX VWDUW \RXU EORJ" Q  VWDUWHG


D *RRJOH EORJ WR GRFXPHQW P\ SURJUHVV ZLWK WKH
&UHDWLRQ SURMHFW UHDOLVHG IURP WKH FRPPHQWV
DQG UHDFWLRQV ZDV UHFHLYLQJ WKDW WKLV ZDV WKH
WLSSLQJ SRLQW IURP KREE\ WR EXVLQHVV 3HRSOH
FRQWDFWHG PH DVNLQJ WR SXUFKDVH P\ GHVLJQ DQG
7HPSWLQJ 7DQJOHV EHJDQ

7HOO XV DERXW \RXUVHOI 0\ KXVEDQG DQG KDYH


OLYHG LQ GDKR 86$ IRU  \HDUV 3UHYLRXVO\ ZDV
LQ &DOLIRUQLD ZRUNLQJ ZLWK VSUHDGVKHHWV QXPEHUV
DQG PHGLFDO FRGHV MXVW ZDLWLQJ IRU WKH GD\ ZKHQ
FRXOG HQMR\ P\ DUWLVWLF KREELHV IXOO WLPH
:KHQ GLG \RX IDOO LQ ORYH ZLWK FURVV VWLWFK"
1HDUO\  \HDUV DJR ZDV LQWURGXFHG WR LW E\
D GHOLJKWIXOO\ HFFHQWULF QHLJKERXU NQHZ
LPPHGLDWHO\ WKDW KDG WR OHDUQ HYHU\WKLQJ DERXW
IDEULF IORVV FRORXUV DQG DOO NLQGV RI VWLWFKHV
6KRUWO\ DIWHU WKLV EHJDQ WR GR D ELW RI GHVLJQLQJ

$Q\WKLQJ WR DGG" 1RQH RI WKLV ZRXOG KDYH EHHQ


SRVVLEOH ZLWKRXW WKH HQFRXUDJHPHQW RI P\
KXVEDQG PDQ\ GHDU IULHQGV DQG RWKHU VWLWFKHUV
6R G OLNH WR WKDQN HYHU\RQH ZKR KDV KHOSHG

:KDW VRUW RI WKLQJV GR \RX PRVW OLNH WR VWLWFK"


ORYH WUDGLWLRQDO DOSKDEHW VDPSOHUV ZLWK
DQWLTXHVW\OH PRWLIV DQG ERUGHUV YH DOVR IDOOHQ LQ
ORYH ZLWK JHRPHWULF 4XDNHU 9LHUODQGHQ DQG 'XWFK
VDPSOHUV DQ\WKLQJ ZLWK LQWULFDWH GHWDLO
:KDWV EHHQ \RXU ELJJHVW VWLWFKLQJ FKDOOHQJH RU
VWLWFKLQJ GLVDVWHU" Q HDUO\  ZKHQ ZDV
GRLQJ D %LEOH VWXG\ RI *HQHVLV IRXQG P\VHOI
HQYLVLRQLQJ WKH FUHDWLRQ VWRU\ DV LW PLJKW
EH WUDQVODWHG LQWR FURVV VWLWFK W WRRN
PRQWKV ORQJHU WR FKDUW LW WKDQ LW GLG
WR VWLWFK 7KHUH ZHUH PDQ\ GD\V
ZKHQ DOPRVW JDYH XS
'R \RX KDYH D SLHFH WKDW \RXUH PRVW
SURXG RI" :KDW LV LW" 7KDW ZRXOG EH WKH
&UHDWLRQ SURMHFW EXW D FORVH VHFRQG LV
*LRYDQQLV DOSKDEHW UHLQWURGXFLQJ WKH EHDXW\

'HERUDK ORYHV
VWLWFKLQJ VDPSOHUV
ZLWK LQWULFDWH GHWDLO

)LQG 'HERUDK DQG KHU JRUJHRXV FUHDWLRQV DW


WHPSWLQJWDQJOHVEORJVSRWFRXN

   

1DWLYLW\ VFHQHV

$ 7$77< 7(''< &+5670$6


'0& KDYH EURXJKW RXW DQ DUUD\ RI QHZ 0H WR
<RX 7DWW\ 7HGG\ FURVV VWLWFK NLWV MXVW LQ WLPH
IRU &KULVWPDV (DFK RQH IHDWXUHV WKH DGRUDEOH
OLWWOH EHDU LQ D GLIIHUHQW VQRZ\ VFHQDULR IURP
GHOLYHULQJ JLIWV WR EHIULHQGLQJ D FXWH UHLQGHHU
WR\ 7KH VL[ GHVLJQV LQFOXGH D VHOHFWLRQ RI ODUJH
DQG VPDOO SURMHFWV DQG DUH LGHDO WR JLYH WR
FUDIW\ IULHQGV RU VWLWFK \RXU IDYRXULWH WR NHHS
7KH NLWV FRVW IURP e )LQG \RXU QHDUHVW
VWRFNLVW DW ZZZGPFFUHDWLYHFRXN

1DWLYLW\ /HVOH\ 7HDUH e

&KULVWPDV 1DWLYLW\ &URVV


6WLWFK 3DWWHUQ %ODFN
3KRHEH 'HVLJQV e

&XW 7KUX 1DWLYLW\


$PDQGD /RYHUVHHG
e

/HVOH\ 7HDUHV HOHJDQW GHVLJQ


FDSWXUHV WKH WUDQTXLOOLW\ RI
0DU\ VSHQGLQJ VRPH WLPH
DORQH ZLWK KHU QHZERUQ
VXUURXQGHG E\ ZKLWH GRYHV
DQG ODPEV 7UDLOLQJ IORZHUV
DQG VFDWWHUHG VWDUV DGG WR WKH
VXEWOH RSXOHQFH RI WKH VFHQH
WV GHVLJQHG WR EH VWLWFKHG
RQ  FRXQW DLGD RU  FRXQW
HYHQZHDYH DQG ZLOO PHDVXUH
[FP [LQ ZKHQ
FRPSOHWH )LQG LW DW
ZZZOHVOH\WHDUHFRP
LWHPOMWQDWLYLW\

7KLV VZHHW VFHQH LV LGHDO LI


\RXUH DIWHU D VSHHG\ IHVWLYH
VWLWFK WV GHVLJQHG E\ -DPLH
:HEHU DQG LV LQVSLUHG E\
WUDGLWLRQDO *HUPDQ IRON
GHVLJQV :H ORYH WKH LGHD
RI PDNLQJ LW LQWR D SDWFK WR
DSSOLTX RQWR \RXU WUHH VNLUW
\RX FRXOG XVH PHWDOOLF
WKUHDGV DQG DGG VHTXLQV WR
WKH VWDUV IRU VRPH VSDUNOH
7KH FKDUW LV DYDLODEOH DV DQ
LQVWDQW GRZQORDG 3') IURP
ZZZHWV\FRPXNVKRS
EODFNSKRHEHGHVLJQV

7KLV GHVLJQ E\ $PDQGD


/RYHUVHHG UHYHDOV WKH
FDFRSKRQ\ WKDW PLJKW KDYH
JUHHWHG EDE\ -HVXV RQ KLV
ELUWKGD\ WV D JRUJHRXV NLW
WR JHW VWXFN LQWR ZLWK PRUH
PRWLIV WKDQ ZH FDQ FRXQW
7KH NLW LQFOXGHV  FRXQW EOXH
DLGD SUHVRUWHG VWUDQGHG
FRWWRQV VWDU DQG VQRZIODNH
VHTXLQV DQG XVHV IXOO FURVV
VWLWFK EDFNVWLWFK DQG )UHQFK
NQRWV %X\ LW RQOLQH DW
ZZZERWK\WKUHDGVFRP
RU FDOO  

'HFHPEHU 

6WDQG RXW
VHDVRQDO FDUGV
0HJ (YHUVKHG DQG KHU WHDP DW 7KH 1XWPHJ &RPSDQ\
KDYH FRPH XS ZLWK WZR VWULNLQJ VHDVRQDO FDUGV IXOO
RI LPSDFW :RUNHG RQ  FRXQW SHUIRUDWHG SDSHU ZH
WKLQN WKH\UH DEVROXWHO\ VWXQQLQJ :KHWKHU \RXU IDPLO\
KDYH D SDVVLRQ IRU FODVVLF FDUV RU VLPSO\ ORYH WKH &KULV
5HD VRQJ 'ULYLQJ +RPH )RU &KULVWPDV  RU FDQW UHVLVW
D SDLU RI FXWH 6FRWWLHV SOD\LQJ LQ WKH VQRZ \RXOO HQMR\
VWLWFKLQJ WKHVH IDE GHVLJQV (DFK RQH VWDQGV DW LQ
FP KLJK DQG ZLOO ORRN JUHDW RQ DQ\ PDQWHOSLHFH
RU VKHOI 7KH\UH DYDLODEOH WR EX\ DV NLWV FRQWDLQLQJ
SHUIRUDWHG SDSHU EDFNLQJ FDUG WKUHDGV DQ HQYHORSH
QHHGOH FKDUW DQG LQVWUXFWLRQV 7KH\ FRVW e IRU WKH
6FRWWLHV DQG e IRU 'ULYLQJ +RPH )LQG WKHP
DW ZZZGFURVVVWLWFKFRXN RU FDOO  

 
7KHUHV QRWKLQJ TXLWH OLNH D ELW RI JROGZRUN WR DGG VRPH JODPRXU WR \RXU
VWLWFKLQJ DUVHQDO I \RX ZDQW WR KRQH \RXU VNLOOV RU JHW VWDUWHG RQ WKLV
WHFKQLTXH IRU WKH ILUVW WLPH \RX PLJKW OLNH WR VLJQ XS IRU RQH RI WKH /RQGRQ
(PEURLGHU\ 6FKRROV VSHFLDOLVW FRXUVHV <RXOO OHDUQ WKH WUDGLWLRQDO SULFN DQG
SRXQFH PHWKRG HGJLQJ VWLWFKHV DQG SDG UDLVLQJ IRU GUDPDWLF JOLPPHULQJ
UHVXOWV 7KH FRXUVHV UXQ RQ D 6DWXUGD\ RU RYHU WKUHH :HGQHVGD\
HYHQLQJV DW WKH ZRUNLQJ VWXGLR LQ 6RKR /RQGRQ JLYLQJ \RX WKH FKDQFH
WR LPPHUVH \RXUVHOI LQ WKH WHFKQLTXH 7KHUHV DOVR D VSHFLDO RQHGD\
&KULVWPDV *ROGZRUN &ODVV WDNLQJ SODFH RQ 6DWXUGD\  'HFHPEHU 
)RU GHWDLOV DQG FRXUVH GDWHV HPDLO LQIR#ORQGRQHPEURLGHU\VFKRROFRP
FDOO    RU ZZZORQGRQHPEURLGHU\VFKRROFRP

&DQG\ FDQH WZLQH


5HY XS \RXU VHDVRQDO VWLWFKLQJ ZLWK WKLV FKHHU\ UHG DQG ZKLWH
EDNHUV WZLQH IURP 7KH &RQWHPSRUDU\ +RPH 7KH FULVS FRORXUV
LQVWDQWO\ PDNH XV WKLQN RI FDQG\ FDQHV 7KH YLQWDJH ORRN RI LW ZLOO
KHOS HQKDQFH \RXU &KULVWPDV GFRU DQG FUDIWLQJ SURMHFWV HVSHFLDOO\
DV LW IHDWXUHV D GDVK RI GLQN\ ZRRGHQ EXWWRQV IRU VRPH H[WUD FKDUP
KRZ FXWH $WWDFK WR \RXU VWLWFKHG FDUGV DQG SLFWXUHV DV DQ
HPEHOOLVKPHQW RU XVH WR WLH \RXU IHVWLYH SDUFHOV VHFXUHO\ W ZRXOG
DOVR ORRN VZHHW VLPSO\ VWUHZQ RQ WKH WUHH $ FDUG RI WZLQH FRQWDLQV
ILYH PHWUHV %X\ LW IRU e DW ZZZWFKQHW RU FDOO  


'HFHPEHU 

'HFHPEHU &ROOHFWLRQ

6$03/(5
3ULQWHUV 7UD\
$GG DQ DQFLHQW V\PERO RI JURZWK
DQG VWUHQJWK WR \RXU SULQWHUV WUD\
WKLV PRQWK ZLWK -DQHV EHDXWLIXO
VW\OLVHG DFRUQ PRWLI

KLV LV VXFK D SUHWW\ DQG YHU\ WUDGLWLRQDO OLWWOH VDPSOHU


PRWLI W LV PDGH XS RI UDWKHU VW\OLVHG RDN OHDYHV DQG
DFRUQV ZKLFK KDYH IHDWXUHG VWURQJO\ LQ HPEURLGHU\
GHVLJQV IRU FHQWXULHV
WRRN WKH VKDSH IURP WKH 0DUWKD 7RZQVHQG VDPSOHU
LOOXVWUDWHG KHUH DOWKRXJK KDYH UHVKDGHG LW XVLQJ P\ RZQ
SDOHWWH RI FRORXUV 0DUWKD FUHDWHG KHU VDPSOHU RYHU  \HDUV
DJR EDFN LQ  6KH ZRUNHG WKH GHVLJQ LQ FURVV VWLWFK ZLWK

VRPH EROG VDWLQ VWLWFK DGGLWLRQV IRU WKH IORZHUV DORQJ WKH
ERWWRP 7KHVH DUH RI FRXUVH JXDUGHG E\ OLRQV GR QRW NQRZ
LI LW ZDV GHOLEHUDWH EXW SRRU 0DUWKD VHHPV WR KDYH UXQ RXW
RI IDEULF VR WKH ERUGHU RQO\ VXUURXQGV WKUHH VLGHV RI WKH SLHFH
0\ YHUVLRQ RI WKH DFRUQ PRWLI LV ZRUNHG LQ SXUH FURVV VWLWFK
ZLWK QR IUDFWLRQDO VWLWFKHV RU EDFNVWLWFK VR LW LV D WUHDW WR VWLWFK
<RX FDQ FKRRVH ORYHO\ DXWXPQDO VKDGHV IURP \RXU VWDVK RU
VHQG IRU WKH H[FOXVLYH NLW GHWDLOV EHORZ

<RXU QLVKHG DFRUQ LV [


VWLWFKHV ZKLFK ZLOO VWLWFK XS
DV D PRWLI PHDVXULQJ
[FP LI \RX ZRUN RQ P\
IDYRXULWH &DVKHO OLQHQ

$ IHDVW RI WUDGLWLRQDO
PRWLIV 0DUWKD
7RZQVHQGV WK
FHQWXU\ VDPSOHU LV DQ
LQVSLUDWLRQ DQG UDWKHU D
FRPIRUW WR VWLWFKHUV RI
DQ\ HUD ZLWK LWV PLVVLQJ
ORZHU ERUGHU +DYHQW
ZH DOO EHHQ WKHUH"

67$57 <285 2:1 3517(56 75$< 7R KHOS \RX WR VWLWFK DQG FROOHFW DOO WKH PRWLIV
LQ \RXU RZQ SULQWHUV WUD\ -DQH KDV SXW WRJHWKHU D VSHFLDO WUHDW RI WKH WUD\ LWVHOI
FP VTXDUH  SOXV HLWKHU &DVKHO  FRXQW WHDG\HG OLQHQ RU  FRXQW $LGD WZR
JROGSODWHG QHHGOHV DQG SUHVRUWHG WKUHDGV 7KLV VSHFLDO &6& 3ULQWHUV 7UD\ 3DFN
FRVWV e SOXV e SRVW SDFNLQJ IURP ZZZWKHFURVVVWLWFKJXLOGFRP

$ERXW -DQH *UHHQR


XQGHU RI WKH &URVV 6WLWFK *XLOG -DQH KDV EHHQ GHVLJQLQJ FURVV VWLWFK IRU  \HDUV
FODVVHV HYHQWV DQG VWLWFKLQJ KROLGD\V RU WZLFH D PRQWK RQ &UHDWH DQG &UDIW 79

7R ILQG RXW PRUH YLVLW WKH ZHEVLWH RU FDOO IRU GHWDLOV ZZZWKHFURVVVWLWFKJXLOGFRP
 )UHHSKRQH 8. FDOOHUV      IURP RXWVLGH 8.     

'HFHPEHU 

)HVWLYH SLQQ\

  


7KHVH EULJKW ULEERQV RI FRORXU GHVLJQHG E\ /HVOH\ 7HDUH
PDNH D PRGHUQ &KULVWPDV WUHH DSURQ

6WLWFK D &KULVWPDV WUHH DSURQ


  

=ZHLJDUW  FRXQW $ULRVD JUHHQ UHI 
[FP [LQ IRU WKH DSURQ VNLUW FP LQ
[ OHQJWK DURXQG \RXU ZDLVW SOXV H[WUD IRU W\LQJ
6WUDQGHG FRWWRQ DV OLVWHG LQ WKH NH\
6L]H  WDSHVWU\ QHHGOH
)RU VWRFNLVW GHWDLOV VHH SDJH 

+RZ WR PDNH WKH DSURQ





7851 RYHU WKH VLGHV DQG ERWWRP HGJH RI WKH


VWLWFKHG IDEULF WZLFH WKHQ PDFKLQH VWLWFK DURXQG

WKH DSURQ
)2/' WKH ZDLVWEDQG LQ KDOI OHQJWKZD\V WKHQ
WXUQ XQGHU WKH ORQJ HGJHV DQG SUHVV LQ SODFH

7851 LQ WKH HQGV RI WKH WLHV WR QHDWHQ KROGLQJ


ZLWK WDFNLQJ VWLWFKHV 3ODFH WKH VWLWFKHG DSURQ

IURQW FHQWUDOO\ LQVLGH WKH IROGHG ZDLVWEDQG HQFORVLQJ

6WLWFKLQJ WKH GHVLJQ


)2/' WKH IDEULF LQ KDOI ERWK ZD\V WR ILQG WKH FHQWUH
DQG VWDUW VWLWFKLQJ DW WKLV SRLQW 7KH FURVV VWLWFK

'HFHPEHU 

WKH UDZ HGJH 3LQ WKHQ WDFN LQWR SODFH

0$&+1( VWLWFK WKH EDQG HQGV DQG GRZQ WKH


OHQJWK RI WKH ZDLVWEDQG VHZLQJ WKH DSURQ IURQW

LV ZRUNHG LQ WZR VWUDQGV RI VWUDQGHG FRWWRQ RYHU

ILUPO\ LQVLGH WKH ZDLVWEDQG 5HPRYH DOO WKH WDFNLQJ

WZR WKUHDGV RI IDEULF

VWLWFKHV DQG SUHVV

)HVWLYH SLQQ\

C




k /HVOH\ 7HDUH

)HVWLYH SLQQ\
'0&

$QFKRU 0DGHLUD &RORXU

&URVV VWLWFK LQ WZR VWUDQGV

'0&

$QFKRU 0DGHLUD &RORXU

&URVV VWLWFK LQ WZR VWUDQGV





 OW DYDFDGR 











GN FUDQEHUU\

EODQF 







VSLFH RUDQJH 





 OW SDUURW JUHHQ







GN FDQDU\ 







F\FODPHQ SLQN 

 SDOH EDE\ EOXH 


ZKLWH ZKLWH

6WLWFKHG XVLQJ '0& WKUHDGV RQ  FRXQW IDEULF


RYHU WZR WKUHDGV
6WLWFK FRXQW K[Z
'HVLJQ VL]H [FP ~[LQ
6WLWFK WLPH  KRXUV

7LS 6WUHWFK
\RXU WUHH
([SDQG WKH ULEERQ
VWULSV ZKHQ \RX
DUH VWLWFKLQJ VR
WKDW WKHUH DUH ILYH
VWLWFKHV EHWZHHQ
HDFK RQH

'HFHPEHU 

:LQWHU ZDUPHU

 

0HHW WKH GHVLJQHU

'XUHQH -RQHV
5HDO SRODU EHDUV DUH QRW WKH

ZDUPHU

IULHQGOLHVW RI FUHDWXUHV RU
VR EHOLHYH EXW WKH\ RIWHQ
IHDWXUH RQ &KULVWPDV
GHVLJQV ORRNLQJ FXWH DQG
SOD\IXO 2Q WKLV GHVLJQ WKH

.HHS FRV\ LQ WKH FROG ZLWK WKLV KRW ZDWHU ERWWOH


FRYHU GHVLJQHG E\ 'XUHQH -RQHV

LGHD ZDV WR KDYH WKH SRODU


EHDU ORRNLQJ D OLWWOH PRUH
UHDOLVWLF EXW VWLOO IULHQGO\
DQG OLNH KH ZRXOG ORRN DIWHU
\RX 7KH VWRU\ ERRNV WKDW
JUHZ XS ZLWK ZHUH WKH
LQVSLUDWLRQ EHKLQG WKLV
GHVLJQ EXW ZLWK D PRUH
PRGHUQ ORRN W ZDV YHU\
LPSRUWDQW WR JHW WKH SRODU
EHDU
V IHDWXUHV ULJKW VR
KH ORRNHG IULHQGO\ ZLWKRXW
ORRNLQJ WRR FDUWRRQLVK
$V WKHUH
V RQO\ UHDOO\ KLV
H\HV WR ZRUN ZLWK LW ZDV
FUXFLDO WR JHW WKHVH DW WKH
ULJKW DQJOH ZLWK WKH IUHQFK
NQRWV LQ MXVW WKH ULJKW SODFH
DV LW ZLOO EH ZLWK WKH VHZLQJ
7DNLQJ WLPH RQ WKLV DQG WKH
FKLOG
V IDFH FRXOG PDNH WKH
GLIIHUHQFH ZLWK WKLV SLHFH

KLV FRV\ EHDU KXJ ORRNV OLNH LW ZRXOG NHHS \RX ZDUP RQ WKH FROGHVW
RI QLJKWV EXW LI \RX GRQ
W KDYH D IULHQGO\ SRODU EHDU WR KDQG WKHQ

D KRW ZDWHU ERWWOH LV WKH QH[W EHVW WKLQJ 7KLV SOD\IXO GHVLJQ IURP 'XUHQH -RQHV
LV D VZHHW DQG LQQRFHQW WDNH RQ ZLQWHU DQG IULHQGVKLS W ZRXOG PDNH D SHUIHFW
&KULVWPDV SUHVHQW IRU D FKLOG RU IRU DQ\RQH \RXQJ DW KHDUW



'HFHPEHU 

 % $  $ 


$   "   !
$   



'HFHPEHU 

<
(

(
(
<<
(
<
<
(

:
5
D

<
(

<

<

(
<

<

(
1

(
1
1

(
1
1
(

:LQWHU ZDUPHU

:LQWHU ZDUPHU

7LS
 ! 

   

(
-

( -
(
-
-
-
- (
-
-
-
-
(

(
-
( -
F
S
- (
(
-
- F
F(
( -
- (
(
F
F -
-
-
(
F
F
(
S

$WWDFK VLOYHU\ ZKLWH


EHDGV WR WKH FHQWUH RI
HDFK VQRZIODNH WR DGG
D GDVK RI GD]]OH WR
WKLV IXQ VFHQH

3//2: 3$/6 $GG H[WUD VQRZIODNHV WR WKH


HGJH RI WKH GHVLJQ WR PDNH LW D FP VTXDUH DQG
XVH WR PDNH D FXVKLRQ FRYHU

67$55< 6.< 6WLWFK WKH VQRZIODNHV UDQGRPO\

3<-$0$ 3$57< 0DNH XS RXU KRW ZDWHU


ERWWOH FRYHU DV LQVWUXFWHG EXW XVH D ORQJHU
GUDZVWULQJ WR PDNH D FKLOG
V S\MDPD FDVH



k 'XUHQH -RQHV

RYHU D SLHFH RI EOXH HYHQZHDYH DQG DWWDFK WR


D FDUG ZLWK JOXH IRU D IXQ &KULVWPDV JUHHWLQJ

'HFHPEHU 



:LQWHU ZDUPHU

6WLWFK \RXU KRW ZDWHU ERWWOH FRYHU


# $ 


$GGLQJ WKH GHWDLO


&203/(7( DOO WKH FURVV VWLWFK EHIRUH DGGLQJ WKH

=ZHLJDUW  FRXQW %ULWWQH\ EOXH UHI 

EDFNVWLWFK DQG )UHQFK NQRWV LQ RQH VWUDQG

[FP [LQ

0DNH \RXU KRW ZDWHU


ERWWOH FRYHU

6WUDQGHG FRWWRQ DV OLVWHG LQ WKH NH\


6L]H  WDSHVWU\ QHHGOH






3/$&( \RXU VWLWFKLQJ ULJKW VLGHV WRJHWKHU ZLWK

)DEULF EDFN [FP [LQ

\RXU EDFNLQJ IDEULF 6WLWFK DORQJ RQH VLGH VHDP

7KLQ ULEERQ RU FRUG IRU JDWKHULQJ

3UHVV WKH VHDP RSHQ

6HZLQJ NLW XVXDO HVVHQWLDOV LQFOXGLQJ

7851 RYHU WKH WRS HGJH WZLFH RQ WR WKH ZURQJ

PDWFKLQJ WKUHDG

VLGH PDNLQJ D FKDQQHO DW WKH WRS RI WKH EDJ

)RU VWRFNLVW GHWDLOV VHH SDJH 

0DFKLQH VWLWFK DORQJ WKH ERWWRP HGJH RI WKH WXUQLQJ

6WLWFKLQJ WKH GHVLJQ

)2/' ULJKW VLGHV WRJHWKHU DJDLQ 6WLWFK DFURVV WKH

)2/' WKH IDEULF LQ KDOI ERWK ZD\V WR QG WKH FHQWUH


DQG VWDUW VWLWFKLQJ DW WKLV SRLQW 7KH FURVV VWLWFK

ERWWRP DQG XS WKH VHFRQG VLGH VHDP VWRSSLQJ

MXVW VKRUW RI WKH VWLWFKHG FKDQQHO


7851 WR WKH ULJKW VLGH DQG WKUHDG D OHQJWK RI

LV ZRUNHG LQ WZR VWUDQGV RI VWUDQGHG FRWWRQ

ULEERQ RU FRUG WKURXJK WKH FKDQQHO DW WKH WRS

QVHUW WKH ERWWOH DQG WKHQ SXOO XS DURXQG WKH ERWWOH

:LQWHU ZDUPHU
'0&

$QFKRU 0DGHLUD &RORXU

&URVV VWLWFK LQ WZR VWUDQGV






EODFN EODFN





 SHZWHU JUH\

H\HV





 OW VWHHO JUH\













 PHG JUHHQ





 SHDUO JUH\







YLROHW







OW YLROHW







GN FRUDO







Y OW GXVW\ URVH





'HFHPEHU 

PHG FRUDO

 EDE\ JUHHQ

 







 GN VWUDZ





 OW VWUDZ

% 



'0&

Y OW WDZQ\

ZKLWH EULJKW ZKLWH

$QFKRU 0DGHLUD &RORXU

%DFNVWLWFK LQ RQH VWUDQG






EODFN EODFN



 EDE\ JUHHQ



 GN SHZWHU JUH\

VFDUI


RXWOLQHV

% 

ZKLWH EULJKW ZKLWH

KDW VQRZIODNHV

)UHQFK NQRWV LQ RQH VWUDQG


% 

ZKLWH EULJKW ZKLWH

VQRZIODNHV

6WLWFKHG XVLQJ '0& WKUHDGV RQ  FRXQW


HYHQZHDYH RYHU WZR WKUHDGV
6WLWFK FRXQW K[Z
'HVLJQ VL]H [FP [LQ
6WLWFK WLPH KUV

'$17<
0$.(6

KLV TXLFN DQG VDWLVI\LQJ PDNH ZRUNHG HQWLUHO\ LQ RQH FRORXU LV MXVW WKH WKLQJ WR NHHS
\RXU JODVVHV VDIH IURP VFUDWFKHV LQ WKH ERWWRP RI \RXU EDJ 7KLV JODVVHV FRV\ ZRXOG

PDNH D JUHDW JLIW DV \RX FDQ SHUVRQDOLVH LW ZLWK GLIIHUHQW FRORXU VWLWFKLQJ DQG IDEULFV

  


/$< WKH DVVHPEOHG EDFNLQJ IDEULF VHFWLRQ

IODW RQ WKH WDEOH ULJKW VLGHV XS 3ODFH WKH

=ZHLJDUW  FRXQW &DVKHO OLQHQ EODFN UHI

VWLWFKHG VHFWLRQ RQ WRS RI WKLV ULJKW VLGHV

 [FP [LQ

GRZQ DQG WKHQ SXW WKH ZDGGLQJ RQ WRS

6WUDQGHG FRWWRQ DV OLVWHG LQ WKH NH\




0$&+1( VWLWFK DURXQG WKH RXWHU HGJH


RI WKH FDVH OHDYLQJ D VPDOO JDS RQ WKH

6L]H  WDSHVWU\ QHHGOH

VKRUW OLQLQJ HGJH IRU WXUQLQJ

)DEULF EDFNLQJ DQG OLQLQJ [  SLHFHV [FP

750 WKH VHDP DOORZDQFH DQG WXUQ \RXU

[LQ

FDVH WR ULJKW VLGH 6HZ XS WKH JDS \RX OHIW

:DGGLQJ

ZLWK VPDOO QHDW VWLWFKHV 3XVK WKH OLQLQJ LQVLGH

)RU VWRFNLVW GHWDLOV VHH SDJH 

0DNH

\RXU
FDVH ZLWK D EULJKW
EDFNLQJ IDEULF VR
\RX FDQ VSRW LW
ZLWKRXW \RXU
JODVVHV RQ

WKH JODVVHV FDVH

6WLWFKLQJ WKH GHVLJQ


)2/' WKH IDEULF LQ KDOI ERWK ZD\V WR ILQG WKH FHQWUH
DQG VWDUW VWLWFKLQJ DW WKLV SRLQW 7KH FURVV VWLWFK LV

*ODVVHV FRV\

ZRUNHG LQ WKUHH VWUDQGV RI VWUDQGHG FRWWRQ

'0&

$GGLQJ WKH GHWDLO

$QFKRU 0DGHLUD &RORXU

&URVV VWLWFK LQ WKUHH VWUDQGV

&203/(7( DOO WKH FURVV VWLWFK EHIRUH DGGLQJ WKH

EODQF 

EDFNVWLWFK LQ WZR VWUDQGV

ZKLWH ZKLWH

%DFNVWLWFK LQ WZR VWUDQGV

+RZ WR PDNH WKH FDVH

EODQF 

750 \RXU VWLWFKLQJ WR [FP [LQ  3ODFH

ZKLWH ZKLWH

DOO RXWOLQHV DQG ZRUGV

WKH VWLWFKLQJ ULJKW VLGHV WRJHWKHU ZLWK RQH SLHFH

RI OLQLQJ IDEULF 6WLWFK DORQJ WKH VKRUW HGJH 3UHVV WKH

6WLWFKHG XVLQJ '0& WKUHDGV RQ  FRXQW


OLQHQ RYHU WZR WKUHDGV
6WLWFK FRXQW K[Z
'HVLJQ VL]H [FP [LQ
6WLWFK WLPH KUV

VHDP RSHQ

5(3($7 IRU WKH EDFNLQJ DQG WKH UHPDLQLQJ SLHFH


RI OLQLQJ IDEULF 3UHVV RSHQ &XW \RXU ZDGGLQJ WR

WKH VDPH VL]H DV RQH RI \RXU MRLQHG SLHFHV













C
D

D
D

D
D



D
D

D
D

D
D

k -HQQ\ %DUWRQ

D
D

D
D







'HFHPEHU 

 
FRV\

<RX
OO DOZD\V EH DEOH WR ILQG
\RXU JODVVHV LQ WKLV IXQ FDVH
E\ -HQQ\ %DUWRQ

'HFHPEHU 



&HOHVWLDO PHVVHQJHU

  

PHVVHQJHU
6XVDQ 3HQQ\ VKRZV \RX KRZ WR FUHDWH D EHDXWLIXO
&KULVWPDV DQJHO XVLQJ FUHDWLYH EDFNVWLWFK

RU WKRVH RI \RX WKDW KDWH EDFNVWLWFK WKLV &KULVWPDV

&HQVLQJ DQJHO

FHOHVWLDO PHVVHQJHU RU &HQVLQJ DQJHO PLJKW MXVW EH WKH

SURMHFW WR WXUQ WKDW KDWH LQWR ORYH $Q DQJHO LV D FHOHVWLDO


PHVVHQJHU DQG LV VHHQ DV *RGV ZD\ RI SDVVLQJ YLWDO SLHFHV

  

RI LQIRUPDWLRQ GRZQ WR KXPDQV &HQVLQJ LV WKH SUDFWLFH


RI EXUQLQJ LQFHQVH GXULQJ FHUWDLQ FKXUFK FHUHPRQLHV DQG

=ZHLJDUW  FRXQW &DVKHO EODFN UHI 


[FP [LQ

VHUYLFHV 7KH VPRNH LV VDLG WR FDUU\ WKH SUD\HUV RI PHPEHUV

6WUDQGHG FRWWRQ DV OLVWHG RQ WKH NH\

RI WKH FRQJUHJDWLRQ XS WR KHDYHQ :LOOLDP 0RUULV GHVLJQHG WKLV

'0& PHWDOOLF ( EODFN PHWDOOLF

DQJHO LQ  DV D ZLQGRZ DW WKH &KXUFK RI 6W 3HWHU DQG 6W 3DXO

'0& PHWDOOLF  OLJKW VLOYHU

LQ &DWWLVWRFN 'RUVHW 0RUULV FUHDWHG ZRQGHUIXO PRYHPHQW LQ

.UHLQHN EOHQGLQJ ILODPHQW FRORXU  JROG DQG


 FRSSHU

WKH IROGV RI WKH UREHV DQG KDYH XVHG WKLV WR FUHDWH VHFWLRQV IRU

.UHLQHN ILQH  EUDLG JROG

HDFK IROG 7KHUH LV D ORW RI EOHQGLQJ LQ WKLV GHVLJQ ZLWK GLIIHUHQW

6L]H    WDSHVWU\ QHHGOH

DUHDV XVLQJ D GLIIHUHQW QXPEHU RI VWUDQGV ZLWK D VPDOO DPRXQW


RI FURVV VWLWFK IRU WKH IDFH DQG KDQGV 7KLV D GHVLJQ IRU WKRVH
ZKR ZDQW D VWLWFKLQJ FKDOOHQJH

)UDPH JROG ZLWK D [FP [LQ DSHUWXUH

6WLWFKLQJ GHWDLO
7+( LQVWUXFWLRQV IRU ZRUNLQJ WKLV GHVLJQ DUH DV
IROORZV WKH DQJHO LV ZRUNHG RQ  FRXQW &DVKHO RYHU
WZR WKUHDGV RI IDEULF XVLQJ WZR DQG WKUHH VWUDQGV RI

7LS :RUNLQJ ZLWK EOHQGLQJ ILODPHQW


6WLWFK VORZO\ XVLQJ VKRUW OHQJWKV RI WKUHDG ZKHQ XVLQJ EOHQGLQJ
ILODPHQW <RX PD\ ILQG LW VQDSV RU VWUHWFKHV DV \RX VWLWFK VLQFH
LW
V VR GHOLFDWH LI WKLV KDSSHQV \RX VKRXOG UHOD[ \RXU WHQVLRQ


'HFHPEHU 

VWUDQGHG FRWWRQ IRU WKH FURVV VWLWFK RQH WZR WKUHH


DQG IRXU VWUDQGV IRU WKH EDFNVWLWFK RQH VWUDQG IRU
WKH ORQJ VWLWFK 6RPH RI WKH FRORXUV KDYH EOHQGHG
WKUHDGV DQG EOHQGLQJ ILODPHQW 2Q WKH NH\ WKH
ILJXUHV LQ EUDFNHWV UHIHU WR WKH QXPEHU RI VWUDQGV

2XWOLQH
:KHQ DOO WKH VWLWFKLQJ RQ WKH PDLQ
FKDUW LV FRPSHWH WKH DUHDV PDUNHG
ZLWK D EODFN RXWOLQH VKRXOG EH
ZRUNHG LQ EDFNVWLWFK LQ WZR VWUDQGV
RI EODFN VWUDQGHG FRWWRQ 7KHVH
VWLWFKHV DUH ZRUNHG RXWVLGH WKH
RWKHU EDFNVWLWFKHV RQ WKH IDEULF
:RUNLQJ WKH EDFNVWLWFK
7KH EDFNVWLWFK RQ VRPH DUHDV RI
WKH FKDUW LV ZRUNHG DFURVV RQH DQG
GRZQ WZR RU WKUHH VTXDUHV $V WKLV
GHVLJQ LV ZRUNHG RQ HYHQZHDYH LW
LV SRVVLEOH WR PDNH WKHVH VWLWFKHV LQ
VWDJHV DV HYHU\ VTXDUH RQ WKH FKDUW
LV HTXDO WR WZR WKUHDGV RQ WKH IDEULF
6WDUV
7KH VWDUV DUH ZRUNHG LQ WKUHH
VWUDQGV RI OLJKW VLOYHU PHWDOOLF
 DQG LQ WKUHH VKDGHV RI EOXH
VWUDQGHG FRWWRQ $ IHZ VWDUV KDYH
EHHQ PDUNHG RQ WKH PDLQ FKDUW
RWKHUV VKRXOG EH VWLWFKHG UDQGRPO\
DURXQG WKH DQJHO )LQLVK WKH KDOI VWDU
ZLWK D EDFNVWLWFK URZ ZRUNHG LQ WZR
VWUDQGV RI EODFN VWUDQGHG FRWWRQ

 

  
&HQVHU DQG VOHHYH SDWFKHV
QVLGH RI WKH OHIW VOHHYH SDWFK
EDFNVWLWFK  VWUDQG OW SLQN 
2XWOLQH OHIW VOHHYH SDWFK
EDFNVWLWFK  VWUDQG [OW SLQN 
[JROG EOHQGLQJ
3DWFK RQ UREH XQGHU KDQG
EDFNVWLWFK  VWUDQG GDUN SHDFK 
2XWOLQH SDWFK EDFNVWLWFK
 VWUDQGV EOHQG [PHG SHDFK 
[JROG EOHQGLQJ
&HQVHU RXWOLQH EDFNVWLWFK
 VWUDQGV EODFN 
&HQVHU FURVV VWLWFK  VWUDQGV
JROG (
&HQVHU FRUGV ORQJ VWLWFKHV QH

JROG EUDLG FRXFK GRZQ ZLWK


JROG EOHQGLQJ
&HQVHU FRUG VWRSV EDFNVWLWFK
 VWDQGV EODFN ( JROG EOHQGLQJ

8VLQJ .UHLQLN
EOHQGLQJ ILODPHQW
DGGV VSDUNOH
WR \RXU VWLWFKLQJ

'HFHPEHU 



&HOHVWLDO PHVVHQJHU
)DFH KDQGV
VFDUI EURRFK
DQG KDOR
)DFH DQG KDQGV
FURVV VWLWFK
 VWUDQGV
HVK 
+DLU FURVV VWLWFK
LQ D EOHQG RI WZR FRORXUV OW JLQJHU
 JLQJHU 
)DFH KDLU VFDUI KDQGV EDFNVWLWFK
 VWUDQGV EODFN 
)LQJHU GHWDLO H\H PRXWK EDFNVWLWFK
 VWUDQG EURZQ 
6FDUI EDFNVWLWFK  VWUDQGV EODFN 
)LOO VFDUI EDFNVWLWFK  VWUDQG OHPRQ 
)ROGV RQ VFDUI DQG EDVH RI QHFN
EDFNVWLWFK  VWUDQG EODFN 
%URRFK EDFNVWLWFK  VWUDQGV
JROG EOHQGLQJ
+DOR RXWOLQH EDFNVWLWFK  VWUDQG
EODFN 
)LOO KDOR ORQJ VWLWFK  VWUDQGV
EODFN PHWDOOLF ( DQG JROG EOHQGLQJ
%DQG RQ KDLU EDFNVWLWFK RYHU KDLU
QH JROG EUDLG

:LQJ
VHFWLRQ
0DLQ RXWOLQH
EDFNVWLWFK
 VWUDQGV Y GN
SLQN 
'HWDLO WRS RI EDFN
ZLQJ EDFNVWLWFK
 VWUDQG Y GN SLQN 

:LQJ VHFWLRQ
2XWOLQH EDFNVWLWFK  VWUDQGV
EOHQG [GN SHDFK  [ Y GN
SHDFK 
2UDQJH RXWOLQH EDFNVWLWFK
 VWUDQGV JROG EOHQGLQJ
:LQJ VHFWLRQ
*UH\ RXWOLQH EDFNVWLWFK
 VWUDQGV EOHQG [GN SHDFK
 [PHG SHDFK 
%OXH RXWOLQH EDFNVWLWFK
 VWUDQGV EOHQG [PHG SHDFK
 [OW SHDFK 

6OHHYHV
2XWOLQH EDFNVWLWFK 
VWUDQGV EOHQG [OW SLQN 
[JROG EOHQGLQJ
6OHHYH SDWWHUQ \HOORZ
DUHDV EDFNVWLWFK 
VWUDQGV JROG EOHQGLQJ
6OHHYH SDWWHUQ SLQN
DUHDV EDFNVWLWFK 
VWUDQGV EOHQG [DSULFRW
 [FRSSHU EOHQGLQJ
6OHHYH SDWWHUQ EOXH DUHDV
EDFNVWLWFK  VWUDQG OW SLQN 

*RZQ
2XWOLQH OHIW VLGH
EDFNVWLWFK  VWUDQGV
EOHQG [OW SLQN 
[JROG EOHQGLQJ
2XWOLQH ULJKW VLGH
EDFNVWLWFK  VWUDQGV
[DSULFRW 
[JROG EOHQGLQJ
5RVHV EDFNVWLWFK
 VWUDQGV EOHQG
[DSULFRW 
[FRSSHU EOHQGLQJ
/HDYHV EDFNVWLWFK
 VWUDQG DSULFRW 

*RZQ
2XWOLQH EDFNVWLWFK  VWUDQGV EOHQG
[DSULFRW  [JROG EOHQGLQJ
2XWOLQH WRS OHIW EDFNVWLWFK  VWUDQGV
EOHQG [OW SHDFK  [JROG EOHQGLQJ
5RVHV EDFNVWLWFK  VWUDQGV EOHQG [PHG
SHDFK  [FRSSHU EOHQGLQJ
/HDYHV EDFNVWLWFK  VWUDQG P SHDFK 



'HFHPEHU 

:LQJ VHFWLRQ
%URZQ RXWOLQHV EDFNVWLWFK
 VWUDQGV DSULFRW 
3HDFK RXWOLQHV EDFNVWLWFK
 VWUDQGV PHG SHDFK 
3LQN RXWOLQHV EDFNVWLWFK
 VWUDQGV EOHQG [ Y GN
SHDFK  [JROG EOHQGLQJ
%HLJH RXWOLQHV EDFNVWLWFK
 VWUDQG JROG EOHQGLQJ
:LQJ VHFWLRQ
%OXH RXWOLQH EDFNVWLWFK
 VWUDQGV EOHQG [PHG SHDFK
 [OW SHDFK 
3LQN RXWOLQH EDFNVWLWFK
 VWUDQGV EOHQG [OW SHDFK 
[DSULFRW 
*UHHQ RXWOLQH EDFNVWLWFK
 VWUDQGV EOHQG [DSULFRW 
[JROG EOHQGLQJ
)OHVK RXWOLQH EDFNVWLWFK
 VWUDQGV OW SLQN 
2UDQJH RXWOLQH EDFNVWLWFK
 VWUDQGV JROG EOHQGLQJ

*RZQ
2XWOLQH EULJKW EOXH EDFNVWLWFK
 VWUDQGV EOHQG [OW SHDFK 
[JROG EOHQGLQJ
2XWOLQH EOXH EDFNVWLWFK
 VWUDQGV EOHQG [PHG 3HDFK
 [JROG EOHQGLQJ
2XWOLQH PDXYH EDFNVWLWFK
 VWUDQGV EOHQG [GN SHDFK
 [JROG EOHQGLQJ
2XWOLQH JUHHQ VOHHYH HGJH
EDFNVWLWFK  VWUDQGV EOHQG [OW
SLQN  [JROG EOHQGLQJ
5RVHV EDFNVWLWFK  VWUDQGV
EOHQG [ Y GN SHDFK 
[FRSSHU EOHQGLQJ
/HDYHV EDFNVWLWFK
 VWUDQG Y GN SHDFK 

*RZQ
2XWOLQH EDFNVWLWFK
 VWUDQGV EOHQG [
OW SHDFK  [
JROG EOHQGLQJ
5RVHV EDFNVWLWFK
 VWUDQGV EOHQG
[GN SHDFK 
[FRSSHU EOHQGLQJ
/HDYHV EDFNVWLWFK
 VWUDQG GN SLQN 

k 6XVDQ 3HQQ\

&HOHVWLDO PHVVHQJHU

'HFHPEHU 



     ! 


   
&HQVLQJ DQJHO
'0& RU .UHLQLN

'0& RU .UHLQLN

&URVV VWLWFK LQ WKUHH VWUDQGV

)UDPH \RXU
&HQVLQJ DQJHO LQ
D JROG IUDPH

%DFNVWLWFK LQ WKUHH VWUDQGV

(

EODFN

FHQVHU

 

GN SHDFK

.

JROG

FHQVHU

. 

FRSSHU

 

&URVV VWLWFK LQ WZR VWUDQGV




EURZQ



HVK

JLQJHU



W JLQJHU

P SHDFK

. 

FRSSHU

H\H

 

DSULFRW

KDQGV IDFH

. 

FRSSHU

 

DSULFRW

. 

JROG

IURQW ZLQJ



VLOYHU

VWDUV

&URVV VWLWFK EOHQGLQJ WZR FRORXUV




URVHV RQ UREH

URVHV RQ UREH

URVHV RQ UREH

KDLU

%DFNVWLWFK LQ WZR VWUDQGV


%DFNVWLWFK LQ IRXU VWUDQGV
 
. 
 
. 
 
. 
 

Y GN SHDFK
JROG

ZLQJ

GN SHDFK
JROG

JRZQ RXWOLQH

P SHDFK
JROG

JROG

 

W SLQN

. 

JROG

 

DSULFRW

. 

JROG

'HFHPEHU 

IDFHKDLU



GDUN EOXH

VWDUV



P EOXH

VWDUV



W SLQN

ZLQJV



OLJKW EOXH

VWDUV

.

JROG

ZLQJ WLSV

%DFNVWLWFK LQ RQH VWUDQG


JRZQ RXWOLQH

JRZQ RXWOLQH

JRZQ RXWOLQH

%DFNVWLWFK LQ WKUHH VWUDQGV



EODFN

JRZQ RXWOLQH

W SHDFK

. 





EODFN



Y GN SHDFK

ZLQJOHDYHV



Y GN SHDFK

JRZQOHDYHV



P SHDFK

JRZQOHDYHV



OHPRQ

VFDUI



EURZQ

PRXWKH\H QJHUV



OW SLQN

ZLQJV
JRZQOHDYHV



Y GN SHDFK

ZLQJ



DSULFRW



P SHDFK

ZLQJ

.

JROG



DSULFRW

ZLQJ

 

Y GN SHDFK

 

GN SHDFK

 

GN SHDFK

 

P SHDFK

 

P SHDFK

 

W SHDFK

 

DSULFRW

 

W SHDFK

 

Y GN SHDFK

. 

FRSSHU

KDORVFDUI

WRS ZLQJ

/RQJ VWLWFK LQ WZR VWUDQGV


ZLQJ

ZLQJ

(

ZLQJ

URVHV RQ UREH

KDOR

%DFNVWLWFK LQ RQH VWUDQG RI EUDLG


.

ZLQJ

EODFN

JROG

6WLWFKHG XVLQJ '0& DQG .UHLQLN WKUHDGV RQ  FRXQW


HYHQZHDYH RYHU WZR WKUHDGV
6WLWFK FRXQW K[Z ILJXUH RQO\
'HVLJQ DUHD [LQ [FP
)LJXUHV LQ EUDFNHWV UHIHU WR QXPEHU RI VWUDQGV
WR EH XVHG
6WLWFK WLPH KUV

:ULWH WR XV

<RXU 

:ULWH WR &URVV 6WLWFK &ROOHFWLRQ /HWWHUV 32 %R[  1RUWKDP (; '<
2U HPDLO XV DW &6&#GHQQLVFRXN ZLWK \RXU VWLWFKLQJ VWRULHV

 

3UHWW\ SDQVLHV

 

7KH ZULWHU RI RXU VWDU OHWWHU ZLOO


UHFHLYH D +HULWDJH &UDIWV NLW IURP
WKH IDEXORXV &DWV 5XOH 6HULHV E\
3HWHU 8QGHUKLOO 7KH NLW /RYH
;PDV &56%  LV ZRUWK e
DQG IHDWXUHV D FXWH FDW JHWWLQJ
LQWR WKH &KULVWPDV VSLULW W FRPHV
DV D NLW ZLWK  FRXQW HYHQZHDYH
VWUDQGHG FRWWRQ DQG D FOHDU FKDUW
DQG LQVWUXFWLRQV
*R WR ZZZKFUDIWVFRP IRU PRUH GHWDLOV :HOO GRQH -RDQ
2JERUQ ZKR ZLOO EH UHFHLYLQJ KHU NLW YHU\ VRRQ

WKRXJKW G VKDUH WKHVH SDQVLHV ZLWK \RX


WKDW VWLWFKHG IURP D FKDUW LQ LVVXH 
RI &URVV 6WLWFK &ROOHFWLRQ UHDOO\ HQMR\HG
VWLWFKLQJ WKLV GHVLJQ ORYH KRZ UHDOLVWLF
WKH FRORXUV DUH KRSH \RX OLNH LW WRR
7KDQN \RX IRU LQVSLULQJ PH HYHU\ PRQWK
DQG KDSS\ VWLWFKLQJ WR DOO
9HURQLFD 3DUDWLFR WDO\
&ROOHFWLRQ VD\V 7KDQNV IRU \RXU OHWWHU DQG
SKRWRJUDSK 9HURQLFD <RXU QLVKHG
SDQVLHV ORRN JRUJHRXV KRZ QLFH WR KDYH
RZHUV WR ORRN DW LQ WKH ZLQWHU

6KRZ VWRSSHU
7KLV ZDV D SDWWHUQ IRU D WKURZ FURVV
VWLWFKHG LW LQWR D TXLOW DQG LW KDV JRW
TXLWH D ORW RI FRPSOLPHQWV
-RDQ 2JERUQ 8QLWHG .LQJGRP

:H ORYH WKLV
VWLWFKHG TXLOW

7KH DJH RI VWHDP


KDYH GRQH HPEURLGHU\ DV D KREE\ HYHU
VLQFH VWLWFKHG P\ UVW SLFWXUH DV D
WHHQDJHU 2YHU WKH \HDUV KDYH JDWKHUHG
XS TXLWH D ODUJH VWDVK RI OHIWRYHU VWUDQGHG
FRWWRQ IRXQG WKLV SDWWHUQ LQ RQH RI WKH
&URVV 6WLWFK &ROOHFWLRQ PDJD]LQHV IURP
 DQG IHOO WRWDOO\ LQ ORYH 7KHUH ZHUH
VR PDQ\ EHDXWLIXO FRORXUV DQG WKRXJKW
WKDW FRXOG XVH VRPH RI P\ FRWWRQ

)LQG WKLV
LQ LVVXH 

&ROOHFWLRQ VD\V :KDW D VWXQQLQJ


SLHFH RI VWLWFKLQJ -RDQ <RX PXVW EH
VR SURXG :HG ORYH WR NQRZ KRZ ORQJ
WKLV WRRN WR VWLWFK

+HUH DUH WKH UHVXOWV IRXU \HDUV ODWHU


W ORRNV YHU\ GLHUHQW IURP WKH RULJLQDO
EXW DP SOHDVHG ZLWK LW
7XULG $DVOLG 1RUZD\
&ROOHFWLRQ VD\V :KDW D IDEXORXV
FRPSOHWHG SLFWXUH 7XULG DQG D UHDOO\
EULOOLDQW ZD\ WR QLVK XS OHIWRYHU FRWWRQ
:KDW ZLOO \RX VWLWFK QH[W"

 
 

:H ORYH WR JHW \RXU OHWWHUV


DQG SKRWRV VR SXW SHQ WR
SDSHU DQG JHW ZULWLQJ WRGD\

(PDLO XV DW

FVF#GHQQLVFRXN
PDUNLQJ \RXU HPDLO /HWWHUV 3DJH

RU ZULWH WR
&URVV 6WLWFK &ROOHFWLRQ /HWWHUV
32 %R[  1RUWKDP
(; '<
$ ORYHO\ ZD\ WR
XVH XS FRWWRQ

+DSS\ VWLWFKLQJ

   
'HFHPEHU 



)HVWLYH WR\ VKRS

6PDOO GHWDLOV OLNH WKH ZUHDWK RQ WKH GRRU DQG WKH WR\V LQ WKH VKRS ZLQGRZ KHOS NHHS
D ODUJH SURMHFW OLNH WKLV IHHOLQJ LQWHUHVWLQJ ZKLOH \RX
UH VWLWFKLQJ

0HHW WKH GHVLJQHU

0DULD 'LD]

 "
WR\ VKRS

ORYH GRLQJ VKRS IURQW


GHVLJQV DQG HYHQ DW P\
DJH WR\ VKRSV DUH DOZD\V
H[FLWLQJ VLPSO\ FDQQRW
ZDON SDVW WKH 'LVQH\ VWRUH

:H
G ORYH WR GR DOO RXU &KULVWPDV
VKRSSLQJ LQ WKLV GHOLJKWIXO VWRUH
GHVLJQHG E\ 0DULD 'LD]

ZLWKRXW JRLQJ LQ HYHQ LI WKH


NLGV DUHQW ZLWK PH LQ IDFW
LWV PRUH IXQ ZKHQ P RQ
P\ RZQ WKHQ FDQ SOD\
ZLWK DOO WKH VWXII P\VHOI
KRSH WKLV GHVLJQ HYRNHV
DOO WKH EXLOGLQJ H[FLWHPHQW

WUDGLWLRQDO WR\V DQG DOO GUHVVHG XS IRU &KULVWPDV ZLWK

WUHHV DQG JDUODQGV LW


V HYHQ GXVWHG LQ VQRZ :H FDQ MXVW

DV &KULVWPDV JHWV QHDUHU

LPDJLQH DOO WKH VKRSSHUV EXVWOLQJ LQ ZUDSSHG XS DJDLQVW

WKH URVHWLQWHG PHPRULHV

WKH FROG WR VHOHFW WKH SHUIHFW SUHVHQW WR SXW XQGHU WKH WUHH

RI VQRZ DQG LPDJHV RI WKH

IRU VRPH YHU\ OXFN\ OLWWOH ER\V DQG JLUOV

FODVVLF 9LFWRULDQ &KULVWPDV


7KH RQO\ WKLQJ KDYH OHIW
RXW LV WKH XUFKLQ ORRNLQJ
LQ WKH ZLQGRZ



KLV ZRQGHUIXOO\ QRVWDOJLF WR\ VKRS LV SDFNHG ZLWK

'HFHPEHU 

7KLV SURMHFW LV SDFNHG ZLWK IXQ OLWWOH GHWDLOV VR WKH VWLWFKLQJ


VKRXOG IO\ E\ :H
G UHFRPPHQG WDNLQJ \RXU WLPH RYHU WKH
EDFNVWLWFK DW WKH HQG SDUWLFXODUO\ WKH 7R\ 6KRS VLJQ DV \RX
PD\ ILQG WKH JROG RXWOLQH TXLWH WULFN\

    " 


    $  
      



'HFHPEHU 



)HVWLYH WR\ VKRS

)HVWLYH WR\ VKRS

 
 
76 1 7+( '(7$/
6RPH RI WKH VPDOO GHWDLOHG
SDUWV RI WKH GHVLJQ OLNH WKH
WUHH RU WKH GRRU ZUHDWK
ZRXOG PDNH D QLFH &KULVWPDV
FDUG GHVLJQ











k 0DULD 'LD]

&+$1*( 2) 2:1(5
&KDQJH WKH W\SH RI VKRS E\
OHDYLQJ RXW WKH WR\V LQ WKH
ZLQGRZ DQG DGGLQJ IORZHUV
IRU D IORULVW ORDYHV RI EUHDG
IRU D EDNHU RU PDQQHTXLQV
IRU D FORWKHV VKRS

$// 1 $ 52:
$IWHU FKDQJLQJ WKH WKHPHV
\RX FRXOG VWLWFK WKH VKRSV
QH[W WR HDFK RWKHU WR FUHDWH
D &KULVWPDV VKRSSLQJ VWUHHW

'HFHPEHU 



)HVWLYH WR\ VKRS

6WLWFKLQJ \RXU SLFWXUH


! # 


6WLWFKLQJ WKH GHVLJQ

=ZHLJDUW  FRXQW &DVKHO OLQHQ ZKLWH

DQG VWDUW VWLWFKLQJ DW WKLV SRLQW 7KH FURVV VWLWFK LV

UHI  [FP [LQ

ZRUNHG LQ WZR VWUDQGV RI VWUDQGHG FRWWRQ RU OLJKW

6WUDQGHG FRWWRQ DQG OLJKW HIIHFWV DV OLVWHG LQ WKH NH\

HHFWV RYHU WZR WKUHDGV RI IDEULF

)2/' WKH IDEULF LQ KDOI ERWK ZD\V WR QG WKH FHQWUH

6L]H  WDSHVWU\ QHHGOH

$GGLQJ WKH GHWDLO

)UDPH ZLWK D [FP [LQ DSHUWXUH

&203/(7( DOO WKH FURVV VWLWFK EHIRUH DGGLQJ WKH

)RU VWRFNLVW GHWDLOV VHH SDJH 

EDFNVWLWFK DQG )UHQFK NQRWV LQ RQH VWUDQG

    % /RWV RI FRORXU FKDQJHV DQG


DUHDV ZRUNHG LQ OLJKW HIIHFWV PDNH D ORYHO\ EROG GHVLJQ

)HVWLYH WR\ VKRS


'0&

$QFKRU 0DGHLUD &RORXU

&URVV VWLWFK LQ WZR VWUDQGV



'HFHPEHU 





EODFN EODFN













'0&

$QFKRU 0DGHLUD &RORXU

&URVV VWLWFK LQ WZR VWUDQGV






 GHVHUW VDQG

[PDV UHG





 P JROGHQ EURZQ



EOXH YLROHW





 GN GHVHUW VDQG





PHG FRUDO

 









FRUDO





 OW PRFKD





 OW EURZQ





 PHG VHSLD





 OW EURZQ

EODQF 

ZKLWH ZKLWH





 OW WDQ

( 

ZKLWH ZKLWH







PHG YLROHW

( PHWDOOLF







PHG JUH\





 EHDYHU JUH\





 PHG \HOORZ





 [PDV JUHHQ





 NHOO\ JUHHQ





 EULJKW OLPH







OW WRSD]







OW WDQJHULQH







SDOH \HOORZ







JDUQHW







GN FRUDO





 GN EHDYHU JUH\

GN EOXH YLROHW

%DFNVWLWFK LQ RQH VWUDQG






EODFN EODFN

RXWOLQHV

( PHWDOOLF
VKRS VLJQ

)UHQFK NQRWV LQ RQH VWUDQG






EODFN EODFN

GROOV H\HV

6WLWFKHG XVLQJ '0& WKUHDGV RQ  FRXQW OLQHQ


RYHU WZR WKUHDGV
6WLWFK FRXQW K[Z
'HVLJQ VL]H [FP [LQ
6WLWFK WLPH KUV

&RPSHWLWLRQ 
:HYH JRW JUHDW FURVV VWLWFK SUL]HV ZRUWK RYHU e WR JLYH
DZD\ WR UHDGHUV RI &URVV 6WLWFK &ROOHFWLRQ

2YHU

e

RI SUL]HV WR
EH ZRQ

&XW 7KUX 7KH 1RUWK


3ROH +RXVH
7KLV IDEXORXV &XW 7KUX 7KH 1RUWK 3ROH +RXVH ;&7 NLW
LV GHVLJQHG IURP RULJLQDO DUWZRUN E\ $PDQGD /RYHUVHHG
DQG LV WKH SHUIHFW SURMHFW WR VWLWFK GXULQJ WKH IHVWLYH
VHDVRQ 7KH [FP GHVLJQ LV SDFNHG ZLWK LQWHUHVWLQJ
GHWDLO DQG WKH NLW FRPHV ZLWK  FRXQW DLGD SUHVRUWHG
VWUDQGHG FRWWRQ JROG EHDGV DQG VHTXLQV D JROGSODWHG
QHHGOH FKDUW DQG IXOO LQVWUXFWLRQV 7KH NLW LV SULFHG e
DQG LV DYDLODEOH IURP ZZZERWK\WKUHDGVFRP
(QWHU E\ SRVW WR WKH DGGUHVV EHORZ SOHDVH ODEHO \RXU
HQWU\ 1RUWK 3ROH .LW *LYHDZD\ 

:257+
e

0H WR \RX
7KHVH ORYHO\ 0H WR <RX PLQL FURVV
VWLWFK NLWV PDNH JUHDW VWRFNLQJ OOHUV
RU WDEOH SUHVHQWV :H KDYH IRXU NLWV
WR JLYH DZD\ WKLV PRQWK VHQW RXW DW
UDQGRP &KULVWPDV 'LQQHU 6DQWD
%HDU 6LQJLQJ &DUROV DQG &RV\ :DUP
(DFK NLW IHDWXUHV D FXWH &KULVWPDV EHDU
DQG FRPHV ZLWK D FKDUW LQVWUXFWLRQV
LULGHVFHQW DLGD DQG '0& VWUDQGHG

:257+
e

6HZ 6FDQGLQDYLDQ

6WLWFK WKH +DOOV

7ZR OXFN\ ZLQQHUV ZLOO HDFK UHFHLYH D FRS\ RI WKLV HOHJDQW


DQG EHDXWLIXOO\ GHVLJQHG VWLWFKLQJ ERRN ZULWWHQ E\ .DMVD
.LQVHOOD 3XEOLVKHG E\ &LFR WKH GHVLJQV DUH 6FDQGLQDYLDQ
DQG LQVSLUHG E\ .DMVDV 6ZHGLVK FKLOGKRRG 7KH SURMHFWV
ZKLFK UDQJH IURP
DGRUDEOH OLWWOH IHOW SHWV
WR DQ H\HFDWFKLQJ
ZLQWHU PRELOH DUH
VLPSO\ GHOLJKWIXO
6HZ 6FDQGLQDYLDQ LV
e DQG LV DYDLODEOH
IURP ERRN VKRSV DQG
ZZZDPD]RQFRXN
(QWHU E\ SRVW WR WKH
DGGUHVV EHORZ SOHDVH
ODEHO \RXU HQWU\ 6HZ
6FDQGLQDYLDQ %RRN
*LYHDZD\ 

2SHQ WKH SDJHV RI 6WLWFK WKH +DOOV DQG


\RXU PLQG ZLOO EH OOHG ZLWK DOO WKLQJV
IHVWLYH 7KH  GHVLJQV LQ D YDULHW\ RI
FRXQWHG WKUHDG WHFKQLTXHV DUH VSOLW
LQWR WKUHH WKHPHG FROOHFWLRQV 6W\OLVK
&KLF IRU VRSKLVWLFDWHV 0HUU\
%ULJKW IRU PRGHUQLVWV DQG &ODVVLF
&RV\ IRU WKH WUDGLWLRQDOLVWV :ULWWHQ
E\ 6RSKLH 6LPSVRQ RI :KDW 'HOLODK
'LG WKLV ERRN ZLOO JLYH \RX KRXUV
RI VWLWFKLQJ SOHDVXUH 6WLWFK WKH +DOOV
LV SXEOLVKHG E\ &ROOLQV %URZQ DQG
DYDLODEOH IURP ERRNVKRSV SULFHG
e :H KDYH WZR ERRNV WR JLYH
DZD\ WR OXFN\ UHDGHUV
(QWHU E\ SRVW WR WKH DGGUHVV
EHORZ SOHDVH ODEHO \RXU HQWU\
6WLWFK WKH +DOOV %RRN *LYHDZD\ 

:257+
e

FRWWRQ SULFHG e :LWK IRXU PRUH


ORYHO\ GHVLJQV LQ WKH UDQJH \RX ZLOO
QHYHU DJDLQ EH VKRUW RI ODVWPLQXWH
&KULVWPDV JLIW LGHDV 3OHDVH JR WR
ZZZVHZDQGVHZFRXN WR VHH WKH
FRPSOHWH UDQJH
(QWHU E\ SRVW WR WKH DGGUHVV EHORZ
SOHDVH ODEHO \RXU HQWU\ &KULVWPDV
%HDU .LW *LYHDZD\ 

:257+
e

+RZ 7R (QWHU
:ULWH \RXU QDPH DQG DGGUHVV RQ WKH EDFN RI D SRVWFDUG RU VWXFNGRZQ HQYHORSH DQG VHQG WR &URVV 6WLWFK &ROOHFWLRQ 0DJD]LQH 32 %R[ 
1RUWKDP (; '< &RPSHWLWLRQ RSHQ WK 1RYHPEHU WK 'HFHPEHU  )RU FRPSHWLWLRQ WHUPV DQG FRQGLWLRQV JR WR SDJH 
3OHDVH IHHO IUHH WR HQWHU PXOWLSOH GUDZV RQ RQH SRVWFDUG

'HFHPEHU 



'$17<
0$.(6

OO LV FDOP DOO LV EULJKW 7KLV PXVLFDO YLJQHWWH ZLWK LWV YLEUDQW VWDUV ZLOO KDYH \RX
KXPPLQJ &KULVWPDV FDUROV DOO WKURXJK 'HFHPEHU 7KHUH
V ORWV RI EDFNVWLWFK LQ WKLV

GHVLJQ DQG \RX


OO ZDQW WR WDNH SDUWLFXODU FDUH RYHU WKH ORQJ VWUDLJKW OLQHV RI WKH VWDYH DV \RX
GRQ
W ZDQW WKHP ZREEOLQJ


 
=ZHLJDUW  FRXQW %ULWWQH\ EHLJH UHI 
[FP [LQ

6LOHQW QLJKW
'0&

$QFKRU 0DGHLUD &RORXU

&URVV VWLWFK LQ WZR VWUDQGV

6WUDQGHG FRWWRQ DV OLVWHG LQ WKH NH\


6L]H  WDSHVWU\ QHHGOH
)RU VWRFNLVW GHWDLOV VHH SDJH 

6WLWFKLQJ WKH GHVLJQ


*UHHW YLVLWRUV

)2/' WKH IDEULF LQ KDOI ERWK ZD\V WR ILQG WKH FHQWUH

ZLWK WKLV KDQJLQJ


IURP D ZUHDWK RQ
\RXU IURQW GRRU

DQG VWDUW VWLWFKLQJ DW WKLV SRLQW 7KH FURVV VWLWFK LV





EODFN EODFN





 \HOORZ





 PHG DXWXPQ JROG

%DFNVWLWFK LQ WZR VWUDQGV






 GDUN SHZWHU JUH\

PXVLF VWDII

ZRUNHG LQ WZR VWUDQGV RI VWUDQGHG FRWWRQ

%DFNVWLWFK LQ RQH VWUDQG

$GGLQJ WKH GHWDLO



&203/(7( DOO WKH FURVV VWLWFK HOHPHQWV EHIRUH



EODFN EODFN



 \HOORZ



 PHG DXWXPQ JROG

ZRUGV

DGGLQJ WKH EDFNVWLWFK LQ RQH DQG WZR VWUDQGV



RI VWUDQGHG FRWWRQ

OHIW VWDU

+RZ WR PDNH WKH SODTXH



VWDUV

:5$3 \RXU FRPSOHWHG VWLWFKLQJ DURXQG

D UHFWDQJOH RI WKLFN FDUG FRYHUHG ZLWK


ZDGGLQJ WKHQ XVH GRXEOH VLGHG WDSH WR

KROG LW LQ SODFH 7KH SODTXH KDV PDQ\ XVHV IURP


DGGLQJ LW WR WKH IURQW RI D JUHHWLQJV FDUG WR XVLQJ

6WLWFKHG XVLQJ '0& WKUHDGV RQ  FRXQW


HYHQZHDYH RYHU WZR WKUHDGV
6WLWFK FRXQW K[Z
'HVLJQ DUHD [FP [LQ
6WLWFK WLPH KUV

DV D GHFRUDWLYH VLJQ RQ WKH &KULVWPDV WDEOH

C
k -HQQ\ %DUWRQ



'HFHPEHU 

 QLJKW
7KLV FDURO GHVLJQ IURP -HQQ\ %DUWRQ KLWV DOO WKH ULJKW QRWHV

'HFHPEHU 



0\ 6WLWFKLQJ :HHNHQG

%! (
0DUWLQ 3HQQ\ WDONV WR 6XVDQ 5\GHU IRXQGHU RI +HULWDJH &UDIWV
DERXW KHU ODVWLQJ HQWKXVLDVP IRU RXU IDYRXULWH SDVWLPH

\QRQ\PRXV ZLWK (QJOLVK FURVV VWLWFK GHVLJQ IRU

'R \RX KDYH D SODFH LQ WKH JDUGHQ ZKHUH \RX OLNH

PRUH WKDQ  \HDUV +HULWDJH &UDIWV LV RQH RI WKH

WR ZRUN"

ORQJHVW HVWDEOLVKHG 8. GHVLJQ FRPSDQLHV

GRQ
W VWLWFK LQ WKH JDUGHQ DV WKHUH LV DOZD\V RSSRVLWLRQ IURP

6XVDQ 5\GHU
V GHVLJQV ZHUH IHDWXUHG RQ WKH FRYHU RI WKLV

VXQ DQG ZLQG IHHO WKDW DP RXWVLGH ZKHQ DP LQ P\

FRXQWU\V ILUVW GHGLFDWHG VWLWFKLQJ PDJD]LQH LQ  DQG KDYH

FRQVHUYDWRU\ DQG P\ FKDUWV GRQ


W JHW EORZQ DURXQG

DGGHG TXDOLW\ DQG YDULHW\ WR (QJOLVK GHVLJQ HYHU VLQFH


'R \RX VWLWFK ZKHQ \RX DUH WUDYHOOLQJ"
:KHUH LQ WKH ZRUOG GR \RX OLNH WR VKRS IRU IDEULF

'XULQJ WKH ODVW WKUHH \HDUV P\ KXVEDQG DQ KDV EHHQ YHU\

DQG WKUHDGV"

LOO ZLWK FDQFHU KH LV QRZ LQ UHPLVVLRQ VR ZH KDYHQ


W GRQH

:H EX\ RXU IDEULF IURP =ZHLJDUW LQ *HUPDQ\ DQG RXU WKUHDGV

DQ\ WUDYHOOLQJ DSDUW IURP DOO WKH QXPHURXV WULSV WR KRVSLWDO

IURP '0& LQ )UDQFH $W ZRUN ZH KDYH D URRP GHYRWHG WR

LQ %LUPLQJKDP DOZD\V WRRN P\ ZRUN ZLWK PH WR KRVSLWDO

IDEULF DQG DQRWKHU WR FRQHV RI VWUDQGHG FRWWRQV PDLQO\

DQG VWLWFKHG ZKLOH DQ ZDV KDYLQJ KLV WUHDWPHQWV PXFK

ZRUN RQ GHVLJQV DW KRPH VR KDYH FDUGV IXOO RI DOO WKH '0&

WR WKH LQWHUHVW RI WKH KRVSLWDO VWDII

FRORXUV WR FKRRVH IURP EOLVV


+RZ GLG \RX OHDUQ WR VWLWFK DQG GHVLJQ"



:KHUH LV \RXU IDYRXULWH SODFH WR VLW DQG GHVLJQVWLWFK"

0\ PRWKHU WDXJKW PH WR HPEURLGHU DQG FURFKHW DQG WKLQN

ORYH VWLWFKLQJ LQ P\ FRQVHUYDWRU\ DW KRPH W LV QRUWKIDFLQJ

WKDW P\ FUHDWLYLW\ VWHPPHG IURP KHU +HU ZRUN ZDV EHDXWLIXO

DQG JHWV QDWXUDO OLJKW DOO GD\ PDNLQJ LW HDV\ WR FKRRVH FRORXUV

DQG YHU\ LQVSLULQJ DQG VWLOO XVH KHU H[TXLVLWO\ HPEURLGHUHG

ZLWK FRQILGHQFH W RYHUORRNV RXU JDUGHQ DQG RSHQ ILHOGV

WDEOHFORWKV DQG FURFKHWHG GRLOLHV XVHG WR EH D SULPDU\

ZKHUH KRUVHV JUD]H DQG LW LV ORYHO\ DQG SHDFHIXO :KHQ LW LV

VFKRRO WHDFKHU DQG WDXJKW QHHGOHZRUN WR P\ SXSLOV DQG ZDV

QRW WRR FROG RXWVLGH OHDYH WKH GRRU RSHQ VR WKDW RXU WKUHH

OXFN\ HQRXJK WR EH VHQW RQ D FUHDWLYH HPEURLGHU\ FRXUVH

FDWV FDQ JR LQ DQG RXW

IRU WHDFKHUV ZKLFK LQVSLUHG PH WR H[SHULPHQW ZLWK GLIIHUHQW

'HFHPEHU 

0\ 6WLWFKLQJ :HHNHQG

k +HULWDJH &UDIWV

7KHVH GHVLJQV IURP +HULWDJH &UDIWV


LQFOXGH WKH QHZ
+LJK 6WUHHW
NLW RSSRVLWH
DYDLODEOH VRRQ %RWK WKLV DQG WKH IDZQ
DUH E\ DUWLVW 3HWHU 8QGHUKLOO HVSHFLDOO\
IRU +HULWDJH 6XVDQ EHORZ LV ZRUNLQJ
RQ
%DNLQJ &UD]\
ZLWK WKH KHOS RI 2OLYHU 
D FRPSDQLRQ GHVLJQ IRU
&UD]\ &DW /DG\

OHIW  PRGHOOHG RQ KHU FDWORYLQJ VWDII


:DWFK RXW IRU D +HULWDJH GHVLJQ FRPLQJ
VRRQ LQ &URVV 6WLWFK &ROOHFWLRQ

 $ # !! !##  % %$ ) ( !  



 & # !! !##  #!  # %# 
%! !  ! ( '  #  !$ ! !#(
IDEULFV DQG WKUHDGV JRW WKH FURVV VWLWFK EXJ DERXW IRUW\

ZKLFK QHHG FKDQJLQJ JR KRPH DQG PDNH WKH FKDQJHV ZKLFK

\HDUV DJR ZKHQ ZDV RQ KROLGD\ LQ +ROODQG ORYHG WKH FURVV

HQWDLOV PRUH XQSLFNLQJ RU HYHQ QHHGLQJ WR VWDUW DJDLQ

VWLWFK NLWV RI WKH 'XWFK EXLOGLQJV DQG DIWHU ZRUNLQJ RQH


VWDUWHG WR SURGXFH P\ RZQ GHVLJQV 7KH UHVW LV KLVWRU\

:KDW HOVH GR \RX OLNH WR GR DW WKH ZHHNHQG"


DQ DQG WU\ WR ZDON IRU DURXQG DQ KRXU HYHU\ GD\ :H DUH

:KDW HOHPHQW RI \RXU ZRUN GR \RX ILQG PRVW VDWLVI\LQJ"

ERWK LQ RXU VHYHQWLHV VR LW LV LPSRUWDQW WR NHHS ILW HVSHFLDOO\

ORYH HYHU\ DVSHFW RI P\ ZRUN ZKHWKHU LW LV SURGXFLQJ P\

IRU DQ
V UHFRYHU\ :H DUH OXFN\ WR OLYH RQ WKH HGJH RI &DQQRFN

RZQ GHVLJQV RU FRQYHUWLQJ D SDLQWLQJ IURP RQH RI RXU DUWLVWV

&KDVH DQ DUHD RI  VTXDUH PLOHV RI IRUHVWV ZRRGODQG KLOOV

LQWR FURVV VWLWFK 7R SURGXFH WKH FKDUW XVH VRIWZDUH WKDW P\

ODNHV VWUHDPV DQG GHHS YDOOH\V 7KH &KDVH KDV EHHQ WKH

KXVEDQG ZURWH IRU PH DERXW WZHQW\ ILYH \HDUV DJR W VWLOO

LQVSLUDWLRQ IRU D IHZ RI RXU GHVLJQV I KDYH WLPH PLJKW

GRHV HYHU\WKLQJ ZDQW DQG ILQG LW YHU\ VDWLVI\LQJ WR VHH WKH

GR D ELW RI EDNLQJ RU ZRUN RQ P\ IDPLO\ WUHH EXW QRUPDOO\

GHVLJQ WDNLQJ VKDSH RQ WKH FRPSXWHU VFUHHQ ORYH ZRUNLQJ

VWLWFK IRU PRVW RI WKH WLPH

ZLWK FRORXU EOHQGLQJ WKUHDGV WR DFKLHYH WKH HIIHFWV ZDQW


DOZD\V VWLWFK P\ GHVLJQV DQG LW GHOLJKWV PH ZKHQ WKH FRORXUV
ZRUN ZHOO HYHQ LI LW WRRN D ORW RI XQSLFNLQJ WR JHW WKHUH
:KRVH RSLQLRQ GR \RX VHHN DERXW D ILQLVKHG SLHFH"
0\ KXVEDQG VHHV P\ GHVLJQV WDNH VKDSH IURP WKH EHJLQQLQJ
DQG KH PDNHV FRPPHQWV DV WKH\ SURJUHVV VRPH RI ZKLFK
DJUHH ZLWK  WDNH WKH ILQLVKHG SLHFH WR ZRUN DQG WKLV LV WKH
UHDO WHVW 0\ VWDII DUH DOZD\V YHU\ FULWLFDO DQG LW LV ORYHO\ ZKHQ

+HULWDJH &UDIWV ZRUNV ZLWK DUWLVWV LQFOXGLQJ


-RKQ &OD\WRQ 3HWHU 8QGHUKLOO DQG 9DOHULH
3IHLIIHU WR SURGXFH KLJKO\ GHWDLOHG FURVV
VWLWFK GHVLJQV ZKLFK DUH D MR\ WR VWLWFK
<RX FDQ DOVR ILQG NLWV GHVLJQHG IRU FKLOGUHQ
WR VWLWFK $OO +HULWDJH &UDIW FURVV VWLWFK NLWV
DUH DYDLODEOH IURP \RXU ORFDO QHHGOHZRUN
VWRFNLVW RU GLUHFWO\ IURP WKHLU RQOLQH VWRUH
ZLWK IUHH SRVWDJH )RU PRUH LQIRUPDWLRQ
YLVLW ZZZKFUDIWVFRP RU FDOO  

WKH\ DOO OLNH P\ ZRUN VWUDLJKW DZD\ I WKH\ SLFN XS RQ WKLQJV

'HFHPEHU 



#%'%
VRQJELUGV
%ULQJ D WRXFK RI ZLQWHU ZLOGOLIH LQVLGH ZLWK WKLV
SUHWW\ ZUHDWK GHVLJQ E\ /HVOH\ 7HDUH

&KULVWPDV VRQJELUGV

RQJELUGV EULQJ D WRXFK RI MR\ WR RXU


JDUGHQV HYHQ GXULQJ WKH FROGHVW


PRQWKV RI WKH \HDU 7KLV SUHWW\ GHVLJQ IURP


/HVOH\ 7HDUH FRPELQHV ELUGV IORZHUV IROLDJH
DQG EHUULHV LQ RQH VDWLVI\LQJ FURVV VWLWFK



SURMHFW WV DOVR SDFNHG ZLWK IXQ VWLWFKLQJ


GHWDLOV WR NHHS \RXU LQWHUHVW ZLWK ORWV RI
FRORXUV LQ WKH FURVV VWLWFK DQG EDFNVWLWFK

DQG EHDGLQJ WR ILQLVK RII


I \RX IHHO GDXQWHG E\ WKH ZKROH GHVLJQ
\RX FRXOG VWLWFK D VPDOOHU VHFWLRQ ZLWK MXVW
RQH ELUG WR PDNH D VZHHW FDUG RU SLFWXUH


'HFHPEHU 



&KULVWPDV VRQJELUGV







'HFHPEHU 



&KULVWPDV VRQJELUGV

0HHW WKH GHVLJQHU



/HVOH\ 7HDUH


YHU WKH \HDUV KDYH GUDZQ DQG


SDLQWHG PDQ\ ELUG VNHWFKHV
7KLV WLPH ZDQWHG WR FUHDWH

D IHVWLYH ZLQWHU ZUHDWK ZLWK ELUGV IURP

:LQWHU ELUGV

RXU JDUGHQV KRSH KDYH DFKLHYHG WKLV


DV WKH SLFWXUH ZDV D MR\ WR FUHDWH IURP
VWDUW WR ILQLVK 7KH ZUHQ JROGILQFK JUHDW
WLW EOXH WLW DQG URELQ QHVWOH DPRQJVW WKH
SUHWW\ VRIW FRORXUHG KHOOHERUHV ZKLOVW
SRVVLEO\ ORRNLQJ IRU WKH EHUULHV WKDW SHHS
RXW IURP DPRQJVW WKH IORZHUV DQG IROLDJH

6RUW \RXU
WKUHDGV EHIRUH
\RX VWDUW WR KHOS
WKLV VWLWFKLQJ
JR TXLFNO\

* + 


=ZHLJDUW  FRXQW /XJDQD HYHQZHDYH
FUHDP UHI  [FP [LQ
6WUDQGHG FRWWRQ DV OLVWHG LQ WKH NH\
3HDUO VHHG EHDGV
6L]H  WDSHVWU\ QHHGOH
)DEULF IRU WKH FXVKLRQ EDFN [FP [LQ
&XVKLRQ SDG [FP [LQ
)RU VWRFNLVW GHWDLOV VHH SDJH 

6WLWFKLQJ WKH GHVLJQ


)2/' WKH IDEULF LQ KDOI ERWK ZD\V WR ILQG WKH FHQWUH
DQG VWDUW VWLWFKLQJ DW WKLV SRLQW 7KH FURVV VWLWFK
LV ZRUNHG LQ WZR VWUDQGV RI VWUDQGHG FRWWRQ RYHU
WZR WKUHDGV RI IDEULF

$GGLQJ WKH GHWDLO


&203/(7( DOO WKH FURVV VWLWFK EHIRUH DGGLQJ WKH
EDFNVWLWFK LQ RQH DQG WZR VWUDQGV 7KH SHDUO VHHGV
EHDGV DUH XVHG RQ WKH VWDPHQV RI WKH IORZHUV

0DNH \RXU FXVKLRQ




&87 \RXU VWLWFKHG FXVKLRQ IURQW WR [FP


[LQ 

:7+ ULJKW VLGHV WRJHWKHU PDFKLQH VWLWFK WKH


FXVKLRQ IURQW WR WKH EDFNLQJ IDEULF VWLWFK DURXQG

DOO IRXU VLGHV ZLWK D PP ~LQ VHDP DOORZDQFH DQG


OHDYLQJ D JDS IRU WXUQLQJ




1($7(1 WKH VHDPV WKHQ WXUQ WKURXJK WKH


JDS WR WKH ULJKW VLGH
16(57 WKH FXVKLRQ SDG DQG VOLS VWLWFK WKH
JDS FORVHG

7R VHH /HVOH\V ODWHVW GHVLJQV YLVLW ZZZOHVOH\WHDUHFRP




'HFHPEHU 

&KULVWPDV VRQJELUGV

k /HVOH\ 7HDUH

)$ %''
$ %,% !'%  
%''
 % (
$  $ #( )%    +' )%(
) '   '#%("
&KULVWPDV VRQJELUGV
'0&

'0&

$QFKRU 0DGHLUD &RORXU

$QFKRU 0DGHLUD &RORXU

&URVV VWLWFK LQ WZR VWUDQGV

&URVV VWLWFK LQ WZR VWUDQGV



11
CC
,,

55


==

44

%%
((
""

33
BB
//
&&
..



;;
))

DD
''
99







SLQN PDXYH





 OW DYDFDGR





EODFN EODFN











 GDUN SHZWHU JUH\





 OW EURZQ





 PRVV JUHHQ











 GUDE EURZQ





 OW JUH\











 OLPH JUHHQ







SDOH \HOORZ







JDUQHW





 GN SDUURW JUHHQ



IORZHU VWDPHQV

[PDV UHG





 GN VWUDZ





 SDOH \HOORZ





 KD]HOQXW EURZQ





 ODYHQGHU EOXH







OW ODY EOXH



DXWXPQ JROG

 




 ZLQWHU ZKLWH

RUDQJH UHG

%DFNVWLWFK LQ RQH VWUDQG




EULJKW UHG





 GN HPHUDOG JUHHQ





 OW HPHUDOG JUHHQ











 GN IRUHVW JUHHQ





 OLJKW JUH\







OW SOXP







Y OW SOXP





 OW PRFKD

GN SOXP



EODFN EODFN

RXWOLQHV EHUU\ VWHPV







GN SOXP

IORZHUV

%DFNVWLWFK LQ WZR VWUDQGV




 ZLQWHU ZKLWH

%HDGV
3HDUO VHHG EHDGV
IORZHU VWDPHQV

6WLWFKHG XVLQJ '0& WKUHDGV RQ  FRXQW HYHQZHDYH


RYHU WZR WKUHDGV
6WLWFK FRXQW K[Z
'HVLJQ DUHD [FP [LQ
6WLWFK WLPH KUV

'HFHPEHU 



+DUGDQJHU &KULVWPDV

 
&KULVWPDV
6WLWFK D IDPLO\ KHLUORRP ZLWK WKLV IHVWLYH GHVLJQ
IURP 1LQD $OOHQ IHDWXULQJ WUDGLWLRQDO 1RUZHJLDQ
FXWZRUN HPEURLGHU\



'HFHPEHU 

k 1LQD $OOHQ

+DUGDQJHU &KULVWPDV

7LS


 
DUGDQJHU HPEURLGHU\ VSUDQJ XS LQ 1RUZD\ DIWHU VHDIDULQJ
WUDGHUV ERXJKW EDFN OX[XU\ HPEURLGHUHG IDEULFV DQG

ODFHZRUN IURP DURXQG WKH ZRUOG WR WKH DUHD DURXQG WKH +DUGDQJHU
)MRUG LQ +RUGDODQG 7KH QHZ HPEURLGHU\ WHFKQLTXH RULJLQDOO\ NQRZQ
DV 1RUZHJLDQ GUDZQ WKUHDG ZRUN HPHUJHG DV SHRSOH VRXJKW WR UHFUHDWH

+DQG KROG \RXU VWLWFKLQJ


DV \RX ZRUN D KRRS
ZLOO VWRS \RX PRYLQJ
HDVLO\ IURP RQH VWLWFK
WR WKH QH[W

WKHVH EHDXWLIXO IDEULFV DW KRPH


7UDGLWLRQDOO\ 1RUZHJLDQ VWLWFKHUV ZRUNHG RQ  FRXQW OLQHQ EXW \RX
OO
EH SOHDVHG WR NQRZ RXU GHVLJQ LV ZRUNHG RQ  FRXQW HYHQZHDYH <RX ZLOO
VWLOO ZDQW WR ZRUN VORZO\ DQG LQ QDWXUDO OLJKW ZKHUH SRVVLEOH DV \RXU VWLWFKHV
PXVW EH SHUIHFW 7KH KDUGHVW SDUW LV WKH FXWWLQJ VR PDNH VXUH WR GR WKLV
ZKHQ \RX DUH DEOH WR FRQFHQWUDWH IXOO\

'HFHPEHU 



+DUGDQJHU &KULVWPDV

0DNH LW \RXUV
   
=ZHLJDUW  FRXQW %ULWWQH\ ZKLWH
UHI  [LQ [FP

&$5()8//< IROG LQ WKUHH SRLQWV

DW WKH FRUQHUV RI WKH IDEULF WR WKH

3HUOH FRWWRQ 1R  1R  UHG

FHQWUH EDFN 6OLS VWLWFK WZR RI WKH VHDPV

6L]H  WDSHVWU\ QHHGOH

IURP SRLQW WR FHQWUH <RX ZLOO KDYH PDGH

1HW ZKLWH [LQ [FP

DQ HQYHORSH VKDSH

&RUG UHG LQ FP IRU WKH KDQJHU

6WLWFKLQJ GHWDLOV




6WLWFKHG XVLQJ '0& 3HUOH RQ  FRXQW

SRXUUL )ROG LQ WKH UHPDLQLQJ SRLQW DQG VOLS

HYHQZHDYH RYHU RQH WKUHDG

VWLWFK FORVHG WUDSSLQJ WKH NQRWWHG HQG RI

6WLWFK FRXQW K[Z

WKH KDQJHU

'HVLJQ VL]H [LQ  [FP

7DVVHO UHG
)RU VWRFNLVW GHWDLOV VHH SDJH 

)2/' WKH KDQJLQJ FRUG LQ KDOI NQRW WRJHWKHU

DQG WKHQ SODFH WKH NQRW LQVLGH WKH

GHFRUDWLRQ DW WKH WRS RI WKH KDQJHU


)// WKH GHFRUDWLRQ ZLWK WR\ VWXIILQJ ZKLFK

6WLWFK WLPH KUV

FDQ EH IUDJUDQFHG ZLWK &KULVWPDV SRW

$77$&+ D WDVVHO WR WKH ERWWRP RI WKH

GHFRUDWLRQ XVLQJ PDWFKLQJ WKUHDG

6WLWFKLQJ WKH GHVLJQ


)2/' WKH IDEULF LQ KDOI ERWK ZD\V WR ILQG WKH FHQWUH
&RXQW RXW IURP WKLV SRLQW DQG VWDUW VWLWFKLQJ WKH
.ORVWHU EORFN DW WKH ERWWRP RI WKH FKDUW 8VH '0&
3HUOH RQ  FRXQW HYHQZHDYH RYHU RQH WKUHDG RI WKH
IDEULF WKH VL]H RI WKH WKUHDG IRU HDFK SDUW RI WKH

    


     

GHVLJQ LV OLVWHG EHORZ :RUN VORZO\ DQG FKHFN \RXU


ZRUN DV \RX JR W LV LPSRUWDQW WKDW \RXU VWLWFKHV DUH
SHUIHFW EHIRUH \RX FXW DQ\ WKUHDGV DZD\ 7KLV GHVLJQ
LV IRU WKH DFFRPSOLVKHG VWLWFKHU ZLWK H[SHULHQFH
RI +DUGDQJHU

:RUNLQJ 2UGHU
:25. WKLV &KULVWPDV +DUGDQJHU GHVLJQ LQ WKLV RUGHU
XVLQJ 1R  RU 1R  UHG 3HUOH FRWWRQ .ORVWHU %ORFNV
1R   %ODQNHW 6WLWFKHV 1R   (\HOHWV 1R   6KLSV
0RWLI 1R   &XW DQG ZLWKGUDZ WKUHDGV :RYHQ EDUV
ZLWK 3LFRWV 1R   'RYHV (\HV 1R  

0DNLQJ WKH GHFRUDWLRQ


&203/(7( DOO WKH GHFRUDWLYH VWLWFKLQJ WKHQ ZLWK WKH
GHVLJQ LQ WKH FHQWUH RI WKH IDEULF FXW WR D [LQ
[FP VTXDUH




3/$&( WKH VWLWFKHG VTXDUH RI IDEULF IDFH GRZQ


RQ WKH WDEOH )ROG RYHU ~LQ PP DURXQG DOO

IRXU HGJHV RI WKH IDEULF WR WKH ZURQJ VLGH DQG SUHVV


3/$&( WKH QHW RYHU WKH EDFN RI WKH VWLWFKLQJ

7KLV ZLOO VWRS WKH ILOOLQJ FRPLQJ RXW RI WKH KROHV

FXW LQ WKH GHVLJQ



'HFHPEHU 

.ORVWHU %ORFNV
.ORVWHU %ORFNV DUH WKH EDVLF IRXQGDWLRQ RI +DUGDQJHU HPEURLGHU\
(DFK EORFN FRQVLVWV RI YH VDWLQ VWLWFKHV DQG HDFK RI WKRVH VWLWFKHV
FRYHUV IRXU WKUHDGV RI IDEULF Q WKLV GHVLJQ WKH .ORVWHU EORFNV DUH
ZRUNHG UVW DQG ZLOO EH MXVW LQVLGH WKH RXWHU HGJH RI WKH GHVLJQ
7KH QHHGOH ZLOO XVXDOO\ EH ZRUNLQJ DW DQ DQJOH EXW WKH VWLWFK LWVHOI PXVW
DOZD\V UXQ VWUDLJKW ZLWK WKH IDEULF WKUHDGV 2QFH \RX KDYH PDGH WKH
IWK VWLWFK RI WKH UVW EORFN FKDQJH GLUHFWLRQ DQG EULQJ WKH QHHGOH RXW
DW WKH FRUQHU SRLQW EHIRUH FRPSOHWLQJ WKH QH[W EORFN  GHJUHHV WR WKH
UVW 5HPHPEHU WR NHHS FKHFNLQJ \RXU ZRUN IRU DQ\ PLVVHG WKUHDGV
DQG PDNH VXUH WZR VWLWFKHV PHHW LQ WKH FRUQHU KROH :KHQ \RX KDYH
ZRUNHG DOO WKH .ORVWHU EORFNV RQ WKH FKDUW \RX VKRXOG KDYH DUULYHG
EDFN DW \RXU VWDUWLQJ SRLQW

+DUGDQJHU &KULVWPDV

%ODQNHW 6WLWFKHV
7KH EODQNHW VWLWFK HGJH LV D YHU\
WUDGLWLRQDO DQG DWWUDFWLYH ZD\ WR QLVK
D SLHFH RI +DUGDQJHU HPEURLGHU\ DQG
IRUPV WKH RXWHU HGJH RQ WKLV GHVLJQ
W LV ZRUNHG LQ D VLPLODU ZD\ WR WKH
VDWLQ VWLWFK EORFNV ZLWK HDFK VWLWFK
FRYHULQJ IRXU WKUHDGV RI IDEULF
7KH GLHUHQFH LV WKH QHHGOH ZLOO JR
VWUDLJKW DJDLQVW WKH IDEULF WKUHDGV
DQG WDNHQ WKURXJK WKH WKUHDG ORRS
WR SURGXFH D ULGJH RQ WKH HGJH
$IWHU FRPSOHWLQJ WKH YH VWLWFKHV WKDW
FRUUHVSRQG ZLWK WKH YH VDWLQ VWLWFKHV
ZRUN WKH URXQGHG FRUQHU 7R GR WKLV
ZRUN DOO WKH FRUQHU VWLWFKHV IURP WKH
VDPH KROH WKHQ PDNH WKH UVW VWLWFK
RI WKH QH[W VHFWLRQ LQ WKDW VDPH KROH
WKHUH ZLOO EH VHYHUDO VWLWFKHV VKDULQJ
WKLV KROH

&XW DQG ZLWKGUDZ WKUHDGV


7KLV LV WKH WULFNLHVW SDUW RI WKH GHVLJQ
VR GR QRW FXW WKH WKUHDGV ZKHQ \RX
DUH WLUHG RU XQVXUH RI ZKHUH WR FXW
8VH VPDOO VKDUS VFLVVRUV FXWWLQJ XS
DJDLQVW WKH VLGHV RI WKH VDWLQ VWLWFKHV
.ORVWHU EORFNV  &XW RQH VLGH DQG WKHQ
WXUQ \RXU IDEULF DQG FXW WKH RSSRVLWH
&KHFN FDUHIXOO\ RQ WKH FKDUW DV QRW
DOO DUHDV KDYH WKUHDGV UHPRYHG
&DUHIXOO\ SXOO RXW WKH FXW WKUHDGV

(\HOHWV
7KH H\HOHW VWLWFKHV DUH ZRUNHG
EHWZHHQ WKH EODQNHW VWLWFK HGJH DQG
WKH .ORVWHU EORFNV 6HFXUH WKH WKUHDG
RQ WKH ZURQJ VLGH RI WKH IDEULF WKHQ
EULQJ LW XS LQ WKH FHQWUH KROH ZKHUH
WKH H\HOHW ZLOO EH ZRUNHG :RUN
DURXQG HDFK KROH RI WKH VTXDUH HDFK
WLPH UHWXUQLQJ WR WKH FHQWUH 1R IDEULF
WKUHDGV DUH FXW WR IRUP WKH H\HOHW EXW
HDFK VWLWFK LV SXOOHG WR WKH RXWVLGH
IRUPLQJ D PXFK ODUJHU FHQWUH KROH

:RYHQ EDUV ZLWK SLFRWV


$IWHU FXWWLQJ WKHUH ZLOO EH D QHWZRUN
RI WKUHDGV OHIW LQ JURXSV RI IRXU 7KHVH
ZLOO EH ZRYHQ LQWR EDUV %ULQJ \RXU
QHHGOH XS WKURXJK WKH PLGGOH RI WKH
IRXU WKUHDGV WKHQ DURXQG WKH WKUHDGV
RQ RQH VLGH DQG WKHQ EDFN WR WKH
PLGGOH 5HSHDW RQ WKH RSSRVLWH VLGH
&RQWLQXH ZHDYLQJ LQ D JXUHRIHLJKW
SDWWHUQ XQWLO \RX UHDFK WKH PLGGOH RI
WKH EDU %ULQJ WKH WKUHDG RXW DW WKLV
SRLQW WKHQ ZUDS WKH WKUHDG XQGHU WKH
QHHGOH RYHU WKH QHHGOH DQG XQGHU
WKH QHHGOH *HQWO\ SXOO XQWLO D ORRVH
NQRW DSSHDUV )LQLVK ZHDYLQJ WKH EDU
7KH ZHDYLQJ PXVW EH WLJKW DQG HYHQ
VR SXOO HDFK VWLWFK EHIRUH FRQWLQXLQJ
:KHQ RQH EDU LV FRPSOHWH FURVV RYHU
WR WKH QH[W EDU E\ EULQJLQJ WKH QHHGOH
IURP WKH IDU VLGH RI WKH FRPSOHWHG EDU
XS DW WKH FHQWUH RI WKH QH[W

6KLS PRWLI
7KH VKLS PRWLI LV DQRWKHU YDULDWLRQ
RQ WKH EDVLF VDWLQ VWLWFK (DFK KDOI
RI HDFK PRWLI LV ZRUNHG VHSDUDWHO\
QFUHDVH DQG GHFUHDVH WKH OHQJWK RI
WKH VWLWFKHV DV \RX SURJUHVV FRXQWLQJ
FDUHIXOO\ DQG IROORZLQJ WKH FKDUW
<RXU VWLWFKLQJ VKRXOG FRPSOHWHO\
FRYHU WKH IDEULF XQGHUQHDWK

'RYHV (\HV
7KH 'RYHV H\HV DUH ZRUNHG LQ WKH
VSDFHV EHWZHHQ WKH .ORVWHU EORFNV
DQG ZRYHQ EDUV %ULQJ \RXU QHHGOH
XS DW WKH FHQWUH SRLQW RQ RQH VLGH
RI D EORFN DQG PDNH D VPDOO VWLWFK
LQWR WKH QH[W ZRYHQ EDU ZRUNLQJ EDFN
WRZDUGV \RXU VWDUWLQJ SRLQW
3URFHHG WR WKH WKLUG EDU DQG UHSHDW
5HSHDW IRU WKH ODVW EDU SXOO XS WR
FUHDWH WKH WZLVWV WKHQ JR EDFN WR \RXU
VWDUWLQJ SRLQW DQG WDNH WKH WKUHDG
WKURXJK WR WKH EDFN WR QLVK

'HFHPEHU 



+HU ODG\VKLS

$

ODG\VKLS

0HHW WKH GHVLJQHU

6KHHQD 5RJHUV
2I DOO WKH FKDUDFWHUV LQ

0DNH WKLV /DG\ 0DU\ PLQL FXVKLRQ


GHVLJQHG E\ 6KHHQD 5RJHUV MXVW
LQ WLPH IRU WKH ILQDO &KULVWPDV VSHFLDO

'RZQWRQ WKLQN /DG\ 0DU\


LV WKH RQH ZLWK KHU ILQJHU
RQ WKH SXOVH RI WKH ODWHVW

XSWRWKHPLQXWH
KDLUVW\OH

'

RI WKDW WLPH EXW DOVR

JRUJHRXV PLQL FXVKLRQ 7KH VHFRQG RI RXU FURVV VWLWFK GHVLJQV

ZDQWHG WR NHHS D SHULRG

LQVSLUHG E\ WKH VKRZ IHDWXUHV WKH HOHJDQW /DG\ 0DU\ &UDZOH\

WUHQGV LQ IDVKLRQ 6R WKLV


GHVLJQ KDG WR UHIOHFW KHU

IHHO WR WKH SLHFH VR


HQFDVHG KHU LQ D JROG
SLFWXUH IUDPH SRVVLEO\ D
*UDQWKDP IDPLO\ KHLUORRP

RZQWRQ $EEH\ PLJKW EH FRPLQJ WR DQ HQG EXW \RX


FDQ EURDGFDVW \RXU ORYH RI WKH VKRZ IRUHYHU ZLWK WKLV

DJDLQVW DQ DUW QRXYHDX ZDOOSDSHU DQG IUDPHG LQ JROG I \RX


PLVVHG WKH PLQL EXVW RI 0U &DUVRQ LQ LVVXH  \RX FDQ ILQG
RXW KRZ WR EX\ D EDFN LVVXH RQ SDJH 

7KH EOXH EDFNJURXQG ZDV


XVHG WR KHOS FRPSOHPHQW
0DU\
V GHOLFDWH SRUFHODLQ
VNLQ FRORXULQJ ZKLOVW WKH
GHHS JUHHQ HGJLQJ EULQJV
RXW WKH VXPSWXRXV JROG
SDWWHUQ RQ WKH IUDPH



'HFHPEHU 

! , #, % '  +'


$ $  ' )%  '
'%( '# %  %!

+HU ODG\VKLS

+HU ODG\VKLS
'0&

$QFKRU 0DGHLUD &RORXU

&URVV VWLWFK LQ WZR VWUDQGV












EODFN EODFN





 OW EURZQ





 DVK JUH\





 GN GUDE EURZQ





 GUDE EURZQ











 OW JUH\





 [PDV JUHHQ





 P ROG JROG





 Y OW WDQ







FRUQ RZHU EOXH







GN GHOIW EOXH







GHOIW EOXH





 OW WDZQ\





 EDE\ JUHHQ







GN PHORQ

%DFNLQJ IDEULF [FP [LQ







PHG PHORQ

6RIW WR\ ILOOLQJ







Y OW GXVN\ URVH

)RU VWRFNLVW VHH SDJH 







OW EOXH YLROHW

 



Y OW WDZQ\





SHDFK

6HZ \RXU /DG\


0DU\ LQWR D PLQL
FXVKLRQ ZLWK RXU
VWHSE\VWHS JXLGH

0LQL FXVKLRQ
* +  
 FRXQW DLGD ZKLWH [FP [LQ
6WUDQGHG &RWWRQ DV OLVWHG LQ WKH NH\
6L]H  WDSHVWU\ QHHGOH

+RZ WR PDNH D PLQL FXVKLRQ


21&( DOO WKH VWLWFKLQJ LV FRPSOHWH \RX FDQ WKHQ





Y OW VKHOO SLQN

PHG JUH\

 

 GN GHVHUW VDQG





 OW GHVHUW VDQG

WKHQ OD\ \RXU VWLWFKLQJ IDFH GRZQ RQ WRS





 GN VWUDZ

31 WKH WZR SLHFHV RI IDEULF WRJHWKHU DURXQG

 

 OW URVHZRRG

WKH HGJHV RI WKH GHVLJQ

EODQF 

ZKLWH ZKLWH

PDNH XS /DG\ 0DU\ LQWR D FXVKLRQ







3/$&( WKH EDFNLQJ IDEULF IDFH XS RQ D WDEOH

%$&.677&+ WKH WZR SLHFHV WRJHWKHU DORQJ WKH

HGJH RI WKH VWLWFKLQJ XVLQJ VWURQJ VHZLQJ WKUHDG

OHDYLQJ D JDS RQ WKH ERWWRP HGJH IRU WXUQLQJ


5(029( VRPH RI WKH VHDP DOORZDQFH ZLWK
VKDUS VFLVVRUV WR UHGXFH WKH EXON 0DNH VQLSV

LQWR WKH FRUQHUV WDNLQJ FDUH QRW WR FXW WKH VWLWFKLQJ


7851 WKH FXVKLRQ LQVLGH RXW WKHQ XVH D EOXQW

SHQFLO WR SXVK RXW WKH FRUQHUV /LJKWO\ ILOO ZLWK

%DFNVWLWFK LQ RQH VWUDQG






EODFN EODFN

H\HV

6WLWFKHG XVLQJ '0& WKUHDGV RQ  FRXQW DLGD


6WLWFK FRXQW [
'HVLJQ DUHD DSSUR[ [FP [LQ
6WLWFK WLPH KUV

VRIW WR\ VWXIILQJ PDNLQJ VXUH WKH VWXIILQJ JRHV LQWR


WKH FRUQHUV 6HZ XS WKH RSHQLQJ XVLQJ ODGGHU VWLWFK

)$ %'' $ %,% WRRN


P\ WLPH RYHU WKH EDFNVWLWFK
RQ KHU H\HV DV ZDQWHG
WR JHW KHU ORRN MXVW ULJKW


'HFHPEHU 

+HU ODG\VKLS













C




C
k 6KHHQD 5RJHUV

 ' %

!
)  #) +%
)% ' ( #,"%
 ' #  %!

$// 0$'( 83 0DNH WKLV LQWR D VPDOO EDJ


IRU KROGLQJ MHZHOOHU\ RU KDQGNHUFKLHIV 
7
6 $ %867 0DNH D /DG\ 0DU\ PLQL EXVW
XVLQJ WKH LQVWUXFWLRQV IURP LVVXH  RI &URVV
6WLWFK &ROOHFWLRQ

6&(17 2) $ /$'< $GG ODYHQGHU WR WKH


FXVKLRQ VWXIILQJ DQG DWWDFK D ULEERQ WKHQ XVH
DV D ZDUGUREH IUHVKHQHU

'HFHPEHU 



0HUU\ VWLWFKHV


%
VWLWFKHV
7KLV 6FDQGLQDYLDQVW\OH VDPSOHU IURP =ZHLJDUW
LV D SOD\IXO WDNH RQ D WUDGLWLRQDO GHVLJQ

)


'HFHPEHU 

URP WKH MROO\ URELQV DW WKH WRS

$V WKLV GHVLJQ LV ZRUNHG LQ ZKROH

WR WKH ERRWHG UHLQGHHU DW WKH

VWLWFKHV ZLWK MXVW D OLWWOH EDFN VWLWFK

ERWWRP WKLV ORYHO\ GHVLJQ LV D MR\ WR

LW ZRXOG PDNH DQ LGHDO SURMHFW IRU

VWLWFK DQG WR ORRN DW W


V DOVR IXOO RI

D UHODWLYHO\ QHZ VWLWFKHU UHDG\ WR

PRWLIV \RX FRXOG SLQFK WR PDNH LQWR

VWUHWFK WKHLU VNLOOV DQG WU\ WKHLU KDQG

IHVWLYH FDUGV RU GHFRUDWLRQV

DW D ODUJHU SURMHFW

 #  
 
 
 
 
$ 


0HUU\ VWLWFKHV



















k =ZHLJDUW



'HFHPEHU 

0HUU\ VWLWFKHV

-ROO\ VDPSOHU
! " 


=ZHLJDUW  FRXQW %ULWWQH\ EHLJH UHI 
[FP [LQ
6WUDQGHG FRWWRQ DV OLVWHG LQ WKH NH\
6L]H  WDSHVWU\ QHHGOH
)UDPH ZLWK D [FP ~[LQ DSHUWXUH ZKLWH
)RU VWRFNLVW GHWDLOV VHH SDJH 

6WLWFKLQJ WKH GHVLJQ


)2/' WKH IDEULF LQ KDOI ERWK ZD\V WR ILQG WKH FHQWUH
DQG VWDUW VWLWFKLQJ DW WKLV SRLQW 7KH FURVV VWLWFK
LV ZRUNHG LQ WZR VWUDQGV RI VWUDQGHG FRWWRQ

$GGLQJ WKH GHWDLO


&203/(7( DOO WKH FURVV VWLWFK EHIRUH DGGLQJ
WKH EDFNVWLWFK LQ RQH VWUDQG

0RUH GHVLJQV IURP =ZHLJDUW


2XU =ZHLJDUW SURMHFW FRPHV IURP
=ZHLJDUW LGHDV ERRNOHW %RRN 
7KHUH DUH ORWV PRUH FKDUW ERRNV
DYDLODEOH ILOOHG ZLWK EHDXWLIXO
SURMHFWV IRU \RXU KRPH
$YDLODEOH IURP =ZHLJDUW
VWRFNLVWV HDFK SULFHG IURP e

7R RUGHU YLVLW
ZZZVHZDQGVRFRXN

0HUU\ VWLWFKHV
'0&

$QFKRU 0DGHLUD &RORXU

&URVV VWLWFK LQ WZR VWUDQGV






$QFKRU 0DGHLUD &RORXU

%DFNVWLWFK LQ RQH VWUDQG

 GN JUHHQ



UHLQGHHU KHDUW











 GN JUHHQ







EULJKW UHG







JDUQHW





 GN EHLJH





 P EHLJH EURZQ





 OW EHLJH EURZQ





 Y OW EHLJH EURZQ

EODQF 

'0&

OW FRUDO

ZKLWH ZKLWH








&+5670$6 &$5'6
EULJKW UHG

 GN EHLJH



 Y OW EHLJH EURZQ

ERUGHU GHFRUDWLRQV





$Q\ RI WKH ORYHO\ PRWLIV


RQ WKLV VDPSOHU FRXOG EH
PDGH LQWR D FDUG

(;75$ &+$50

GHWDLOV H\HV








 GN EHDYHU JUH\

KHDUWV DQG EHOO

6WLWFKHG XVLQJ '0& WKUHDGV RQ  FRXQW


HYHQZHDYH RYHU WZR WKUHDGV
6WLWFK FRXQW K[Z
'HVLJQ VL]H [FP ~[LQ
6WLWFK WLPH KUV

<RX FRXOG DGG VRPH VPDOO


KHDUWVKDSHG PHWDO FKDUPV
DURXQG WKH UHLQGHHUV QHFN
IRU DGGHG LQWHUHVW

287 2) 6($621
7KH KHDUWV DQG ERUGHUV FRXOG
EH XVHG RQ FDUGV IRU RWKHU
RFFDVLRQV OLNH 9DOHQWLQHV GD\

'HFHPEHU 



'$17<
0$.(6

HRSOH KDYH EHHQ JLYLQJ SHUIXPH DW &KULVWPDV VLQFH WKH ZLVH PHQ EURXJKW
IUDQNLQFHQVH DQG P\UUK WR D ORZO\ VWDEOH 7KLV SUHWW\ EDJ GHFRUDWHG ZLWK D UHWUR

DWRPLVHU LV WKH SHUIHFW ILQLVKLQJ WRXFK IRU DQ\ ERWWOHV \RX DUH SODQQLQJ WR JLYH 2XU GHVLJQ LV
VWLWFKHG LQ VKDGHV RI SLQN EXW \RX FRXOG VXEVWLWXWH EOXHV RU JUHHQV WR PDWFK WKH ERWWOH LQVLGH

 


LV ZRUNHG LQ WZR VWUDQGV RI VWUDQGHG FRWWRQ


RYHU WZR WKUHDGV RI IDEULF

=ZHLJDUW  FRXQW %ULWWQH\ FUHDP UHI 

$GGLQJ WKH GHWDLO

[FP [LQ
6WUDQGHG FRWWRQ DV OLVWHG LQ WKH NH\

&203/(7( DOO WKH FURVV VWLWFK EHIRUH DGGLQJ

6L]H  WDSHVWU\ QHHGOH

WKH EDFNVWLWFK LQ RQH VWUDQG

)RU VWRFNLVW GHWDLOV VHH SDJH 

0DNH WKLV
DV D ]LSSHG SRXFK
WR XVH DV D VPDOO
PDNH XS EDJ

0DNH \RXU EDJ

6WLWFKLQJ WKH GHVLJQ






7851 RYHU WKH WRS HGJH RI WKH VWLWFKHG

)2/' WKH IDEULF LQ KDOI ERWK ZD\V WR ILQG WKH FHQWUH


DQG VWDUW VWLWFKLQJ DW WKLV SRLQW 7KH FURVV VWLWFK

IDEULF WZLFH DQG WKHQ PDFKLQH VWLWFK

WR KROG WKH VHDP LQ SODFH


%51* WKH VKRUW HGJHV RI WKH EDJ WRJHWKHU

DQG PDFKLQH VWLWFK WKH VHDP RQ WKH ZURQJ







VLGH WKLV LV WKH FHQWUH EDFN VHDP



521 WKH EDJ VR WKDW WKH GHVLJQ LV DW WKH

FHQWUH IURQW DQG WKH VHDP FHQWUH EDFN


677&+ DFURVV WKH ERWWRP RI WKH EDJ WKHQ

WXUQ WR WKH ULJKW VLGH



 
  
ZRXOG OLNH WKLV GHVLJQ
DURXQG P\ GUHVVLQJ WDEOH



3UHWW\ IUDJUDQW



'0& $QFKRU 0DGHLUD &RORXU

&URVV VWLWFK LQ WZR VWUDQGV






 VDOPRQ





 OW GXVW\ SLQN

 

 P GXVW\ SLQN

 

 Y OW VDOPRQ





k -HQQ\ %DUWRQ

EODQF  ZKLWH ZKLWH







'HFHPEHU 

%DFNVWLWFK LQ RQH VWUDQG






 SHZWHU JUH\

RXWOLQHV

6WLWFKHG XVLQJ '0& WKUHDGV RQ  FRXQW


HYHQZHDYH RYHU WZR WKUHDGV
6WLWFK FRXQW K[Z
'HVLJQ VL]H [FP ~[~LQ
6WLWFK WLPH KUV

 IUDJUDQW
:UDS D ERWWOH RI SHUIXPH LQ WKLV SRXFK GHVLJQHG
E\ -HQQ\ %DUWRQ IRU D OX[XULRXV JLIW

'HFHPEHU 



  
ZDVKLQJ OLQH
7KLV FDUG GHVLJQHG E\ -HQQ\ %DUWRQ LV IXOO RI IXQ IHVWLYH GHWDLOV



'HFHPEHU 

  


6DQWD
V ZDVKLQJ OLQH

=ZHLJDUW  FRXQW &DVKHO EOXH UHI 

&URVV VWLWFK LQ WZR VWUDQGV

'0&

[FP [LQ

$QFKRU 0DGHLUD &RORXU











 SHZWHU JUH\





 OW VWHHO JUH\

&DUG ZLWK [FP [LQ DSHUWXUH





 GN JUH\

)RU VWRFNLVW GHWDLOV VHH SDJH 





 SHDUO JUH\





 OW WDQ











 GN HPHUDOG JUHHQ





 P HPHUDOG JUHHQ





 GDUN EURZQ

6WUDQGHG FRWWRQ DQG PHWDOOLF WKUHDG DV OLVWHG


LQ WKH NH\
6L]H  WDSHVWU\ QHHGOH

6WLWFKLQJ WKH GHVLJQ


)2/' WKH IDEULF LQ KDOI ERWK ZD\V WR ILQG WKH FHQWUH
DQG VWDUW VWLWFKLQJ DW WKLV SRLQW 7KH FURVV VWLWFK
LV ZRUNHG LQ WZR VWUDQGV RI VWUDQGHG FRWWRQ ZLWK
OLJKW HIIHFWV ZKLWH IRU WKH VQRZ

677&+

[PDV UHG

6(1'

EULJKW UHG

 



$GGLQJ WKH GHWDLO



 SDOH EDE\ EOXH

&203/(7( DOO WKH FURVV VWLWFK EHIRUH DGGLQJ WKH

EODQF 

ZKLWH ZKLWH

EDFNVWLWFK GHWDLOV LQ RQH VWUDQG DQG WKH OHWWHULQJ

)LQG DSHUWXUH

( 

ZKLWH ZKLWH

FDUGV LQ D UDQJH RI
FRORXUV DQG VL]HV DW
ZZZFUDIWFUHDWLRQVFRP



OW EDE\ EOXH

LQ WZR VWUDQGV

%DFNVWLWFK LQ RQH VWUDQG

+RZ WR PRXQW LQ D FDUG







750 \RXU OLQHQ WR ILW LQVLGH \RXU FDUG ZLWK WKH



 GDUN EURZQ

DOO RXWOLQHV

GHVLJQ SODFHG FHQWUDOO\ EHKLQG WKH DSHUWXUH


3ODFH RQ WKH WDEOH ULJKWVLGH XS

%DFNVWLWFK LQ WZR VWUDQGV

$77$&+ GRXEOHVLGHG WDSH WR WKH LQVLGH RI WKH


FDUG DURXQG WKH HGJH RI WKH DSHUWXUH 3ODFH







[PDV UHG

ZRUGV

RQ WRS RI WKH VWLWFKLQJ DQG SUHVV GRZQ ILUPO\


6WLWFKHG XVLQJ '0& WKUHDGV RQ  FRXQW OLQHQ RYHU
WZR WKUHDGV
6WLWFK FRXQW K[Z
'HVLJQ VL]H [FP [LQ
6WLWFK WLPH  KRXUV

&+(&. ZKLFK IODS ZLOO IROG RQWR WKH EDFN RI


WKH VWLWFKLQJ WKHQ DGG VWULSV RI GRXEOHVLGHG
WDSH DQG SUHVV ILUPO\ LQ SODFH















C
k -HQQ\ %DUWRQ







'HFHPEHU 



:HHNHQG ZRUNER[

7ULP

\RXU
ILQLVKHG WDJV ZLWK
ULEERQ RU ODFH

 
ZLWK ORYH
$WWDFK WKHVH JLIW WDJV GHVLJQHG E\ (PPD &RQJGRQ WR \RXU
&KULVWPDV SUHVHQWV IRU WKH SHUIHFW ILQLVKLQJ WRXFK





DNH \RXU SUHVHQWV VWDQG RXW XQGHU


WKH &KULVWPDV WUHH ZLWK WKHVH

VWXQQLQJ FURVV VWLWFK JLIW WDJV 7KHUH DUH VHYHQ


EHDXWLIXOO\ IHVWLYH GHVLJQV SOXV WKHUH
V DQ
DOSKDEHW WR PDNH \RXU RZQ SHUVRQDOLVHG WDJV



k (PPD &RQJGRQ





   

 
    ! 
   ! 
<RX FDQ DGG QDPHV WR WKH UHYHUVH RI WKH WDJV
XVLQJ EDFNVWLWFK RU WKH DOSKDEHW SURYLGHG

:H OLNH WKH LGHD RI PDNLQJ D WDJ IRU HYHU\RQH


LQ \RXU IDPLO\ DQG UHXVLQJ WKHP HYHU\ \HDU



'HFHPEHU 


!
 
6KDUH \RXU SLFV DQG
VWLWFKLQJ VWRULHV DW
ZZZIDFHERRNFRP
&6&0DJD]LQH

 
 
*5((71*6 &$5'
$Q\ RI WKHVH GHVLJQV ZRXOG
VWLWFK XS EHDXWLIXOO\ LQWR
D &KULVWPDV FDUG

6$03/(5 :K\ QRW


VWLWFK DOO WKH WDJV WRJHWKHU
RQ RQH SLHFH RI OLQHQ WR
PDNH D EORFN VDPSOHU"

&+5670$6 7$%/(
0DNH XS WKH GHVLJQV LQWR
SUHWW\ QDSNLQ ULQJV IRU WKH
&KULVWPDV WDEOH

HFHPEHU 



:HHNHQG ZRUNER[









k (PPD &RQJGRQ









k (PPD &RQJGRQ








C


k (PPD &RQJGRQ



)HVWLYH JLIW WDJV


'0&

77
((
FF

$QFKRU 0DGHLUD &RORXU

&URVV VWLWFK LQ WZR VWUDQGV








Y GN SLQN







EULJKW UHG

EODQF 

ZKLWH ZKLWH

%DFNVWLWFK LQ WZR VWUDQGV














Y GN SLQN

RXWOLQHV DQG GHFRUDWLRQ







EULJKW UHG





(PPD &RQJGRQ

RXWOLQHV DQG GHFRUDWLRQ

$OJHULDQ H\HV LQ WZR VWUDQGV




ORQJ WDLOV ZRUNHG WKHVH LQ +REHLQ VWLWFK VR


WKH WKUHDG HQGV FRXOG EH ILQLVKHG E\ WDNLQJ
WKHP WKURXJK WKH EDFN RI WKH VWLWFKLQJ
'HFHPEHU 



EULJKW UHG

6WLWFKHG XVLQJ '0& WKUHDGV RQ  FRXQW HYHQZHDYH


RYHU WZR WKUHDGV
6WLWFK FRXQW K[Z
'HVLJQ VL]H [FP [LQ
6WLWFK WLPH KUV IRU HDFK WDJ

   ! 6RPH RI WKH OHWWHUV KDG





PHUU\ FKULVWPDV WDJ

0DNH \RXU WDJ


   
=ZHLJDUW  FRXQW &DVKHO OLQHQ QDWXUDO
UHI  [FP [LQ WDJ IURQW
[  IRU HDFK WDJ IURQW DQG EDFN
6WUDQGHG FRWWRQ DV OLVWHG LQ WKH NH\
6L]H  WDSHVWU\ QHHGOH
%XWWRQV
5HG ULEERQ
)RU VWRFNLVW GHWDLOV VHH SDJH 

6WLWFKLQJ WKH GHVLJQ


)2/' WKH IDEULF LQ KDOI ERWK ZD\V WR ILQG WKH FHQWUH
DQG VWDUW VWLWFKLQJ DW WKLV SRLQW 7KH FURVV VWLWFK
LV ZRUNHG LQ WZR VWUDQGV RI VWUDQGHG FRWWRQ RYHU WZR
WKUHDGV RI IDEULF 8VH WKH DOSKDEHW SURYLGHG WR PDNH
XS \RXU RZQ
)URP 7KH
WDJ


$GGLQJ WKH GHWDLO





&203/(7( DOO WKH FURVV VWLWFK EHIRUH DGGLQJ WKH



0$.( D WDJ VKDSH IURP FDUGERDUG 7R GR WKLV


GUDZ D [FP ~[~LQ UHFWDQJOH ZLWK D FP

LQ KLJK WULDQJOH DWWDFKHG WR WKH VKRUW HGJH


326721 WKH FDUGERDUG WDJ FHQWUDOO\ RYHU WKH
ZURQJ VLGH RI \RXU VWLWFKLQJ DQG WKHQ GUDZ



k (PPD &RQJGRQ






0DNLQJ D WDJ

EDFNVWLWFK LQ WZR VWUDQGV

DURXQG WKH WDJ ZLWK D SHQFLO


&87 RXW WKH WDJ VKDSH DGGLQJ D PP ~LQ VHDP
DOORZDQFH DURXQG DOO HGJHV &XW D VHFRQG SLHFH

RI OLQHQ WKH VDPH VKDSH DQG VL]H DV WKH ILUVW


(((((
(
(
(((((
(
(
((( (((

ULJKW VLGHV WRJHWKHU DQG VWLWFK DURXQG WKH HGJH

RI WKH WDJ XVLQJ D VHZLQJ PDFKLQH )ROORZ WKH SHQFLO


OLQH EXW OHDYH WKH ERWWRP HGJH RSHQ IRU WXUQLQJ





((((((
(
(
(((
(
(((

750 WKH VHDP DOORZDQFH DQG DGG VPDOO VQLSV


DURXQG WKH FRUQHUV WR KHOS UHGXFH WKH EXON

7XUQ WKURXJK WR WKH ULJKW VLGH


7XUQ LQ WKH UDZ HGJHV DW WKH ERWWRP DQG WKHQ

0$.( D VPDOO KROH DW WKH WRS RI WKH WDJ ZLWK


D ODUJH QHHGOH DQG WKHQ WKUHDG ZLWK D OHQJWK

RI WRQLQJ ULEERQ 6HZ D EXWWRQ WR WKH WRS RI WKH WDJ

(((((
(
(
((
(
(
(((((

(((
(
(
(
(
(((((

386+ WKH FDUGERDUG WDJ LQVLGH WKH VWLWFKHG WDJ

FORVH WKH VHDP ZLWK VPDOO QHDW VWLWFKHV

((((((
(
(
((((
(
(
((((((

((((

((
((
(( ((
( ( (
(
(
((( (((

(
(
((
(((((
(
(((
(
(
(

(
(

(((
(
(
(

(((((
(
(
(
(
(
(
(((((

(
(

((((

((( (((
(
(
(((((
(
(
((( (((

(((((
(
(
((((
(
(
(((
(

(
(
(

((((

(
(
(

(((
(
(
(
(((

((((((
(
( (
(
(
(
((((

((
(((
((
(
( ( (
(
((
((
((

((((
(
(((((
(
(((((

((((

(
(
(

(
(
(

((((

(((((
( ( (
(
(
(((

((( (((
(
(
(((
( ( (
((
((

((

((((((
(
(
(((
(
(
((((((
((
((
( (
((
( (
((
((
(((((
(
(
((((
(
(((

((( (((
(
(
(
(
(
(
(((
((

(
(
(
(((

(((
(
(
(

(((
(
(
(

k (PPD &RQJGRQ

3/$&( WKH VWLWFKHG WDJ DQG WKH EDFNLQJ IDEULF

((((((
(
(
((
(
(
((((((

'HFHPEHU 



6KRSSLQJ

WV HDV\ WR QG HVVHQWLDO VWLWFKLQJ VXSSOLHV RU FDWFK XS RQ D PLVVHG
FRS\ RI &URVV 6WLWFK &ROOHFWLRQ ZLWK RXU KDQG\ VKRSSLQJ JXLGH

6WRFNLVWV
$116 25&+$5'
ZZZDQQVRUFKDUGFRXN
 
)RU FRQWHPSRUDU\ DQG
WUDGLWLRQDO EHDG DQG
QHHGOHZRUN NLWV SOXV
KDQGPDGH IUDPHV WR GLVSOD\
WKHP LQ
%$51<$516
ZZZEDUQ\DUQVFRXN
  
)RU $QFKRU '0& DQG
0DGHLUD WKUHDGV DQG DOO NLQGV
RI KDEHUGDVKHU\ VXSSOLHV
&27721 3$7&+
ZZZFRWWRQSDWFKFRXN
  
)RU IDEULFV ERRNV ZDGGLQJ
QRWLRQV DFFHVVRULHV DQG
KDEHUGDVKHU\
&5$)7 /$036
ZZZFUDIWODPSVFRXN
 
6WRFNLQJ D IDQWDVWLF DUUD\ RI
FUDIW ODPSV LQFOXGLQJ GHVN
IORRU DQG PDJQLI\LQJ ODPSV
LQFOXGLQJ 'D\OLJKW70 ODPSV
'.+ &5($7216
ZZZGNKFUHDWLRQVFRXN
)RU FURVV VWLWFK NLWV WKUHDGV
DLGD DQG HVVHQWLDO DFFHVVRULHV
'3 62)7:$5(
ZZZGSVRIWZDUHFRP
 
6RIWZDUH IRU FUHDWLQJ FKDUWV
IRU FURVV VWLWFK DQG WDSHVWU\



'HFHPEHU 

6HHQ VRPHWKLQJ WKDWV


LQVSLUHG \RX"
+HUHV ZKHUH \RX FDQ EX\ LW

()5$0(
ZZZHIUDPHFRXN
%HVSRNH DQG UHDG\PDGH
SLFWXUH IUDPHV DQG PRXQWV
IRU GLVSOD\LQJ \RXU VWLWFKLQJ

05 - :22'
MZRRGGPF#PDLOFRP
'0& EUDQGHG VWUDQGHG
FRWWRQV )RU PDLO RUGHU RQO\
HQTXLUH XVLQJ DERYH HPDLO

+2%%<&5$)7
ZZZKREE\FUDIWFRXN
  
)RU FDUGVWRFN SDSHU SDLQW
JOXH DQG FUDIWLQJ VXSSOLHV

3+2726  677&+
ZZZSKRWRVVWLWFKFRXN
)RU SHUVRQDOLVHG FRXQWHG
FURVV VWLWFK NLWV DQG FKDUWV
PDGH IURP DQ\ SKRWRJUDSK

-2+1 -$0(6 1(('/(6


ZZZMMQHHGOHVFRP
  
$OO NLQGV RI QHHGOHV DQG
QHHGOH SDFNV IRU DOO \RXU
VWLWFKLQJ UHTXLUHPHQWV

6($067$5
ZZZVHDPVWDUFRXN
  
)RU SODLQ DQG SDWWHUQHG
IDEULFV DQG DOO NLQGV RI WULPV

-26< 526(
ZZZMRV\URVHFRP
)RU EXWWRQV VHTXLQV EHDGV
DQG DOO NLQGV RI
HPEHOOLVKPHQWV SOXV
DGKHVLYHV SDSHUV VFLVVRUV
DQG PRUH
-867 $ 020(17
ZZZMXVWDPRPHQWFRP
 
([FOXVLYH FURVV VWLWFK GHVLJQV
DYDLODEOH DV NLWV DQG FKDUWV
GLUHFW IURP WKH GHVLJQHUV

6+((1$ 52*(56 '(6*16


ZZZ
VKHHQDURJHUVGHVLJQVFRXN
6SHFLDOLVLQJ LQ PLQL FXVKLRQ
FURVV VWLWFK DQG KDQJLQJ NLWV
DQG FKDUW SDFNV RQ D UDQJH RI
FRORXUIXO WKHPHV
677&+(5 /07('
ZZZVWLWFKHUFRXN
  
)RU FURVV VWLWFK WDSHVWU\
HPEURLGHU\ ORQJVWLWFK
FURFKHW NQLWWLQJ DQG JHQHUDO
FUDIWLQJ SURGXFWV

'RZQORDG \RXU
GLJLWDO LVVXH
RI &URVV 6WLWFK
&ROOHFWLRQ
<RX FDQ EX\ D GLJLWDO HGLWLRQ RI &URVV 6WLWFK
&ROOHFWLRQ UHDG\ WR UHDG ZKHQHYHU \RX ZDQW
6LQJOH LVVXHV DQG VXEVFULSWLRQV DUH DYDLODEOH
DQG HYHU\ LVVXH \RX SXUFKDVH LV VWRUHG LQ \RXU
PDJD]LQH OLEUDU\ SHUPDQHQWO\

0$5(6 &5266 677&+


ZZZPDULHVFURVVVWLWFK
FRXN
)DPLO\UXQ EXVLQHVV VWRFNLQJ
D KXJH UDQJH RI JUHDW YDOXH
NLWV FKDUWV DQG DFFHVVRULHV

://2: )$%5&6
ZZZZLOORZIDEULFVFRXN
  
)RU HYHQZHDYH DLGD DQG DOO
NLQGV RI VWLWFKLQJ IDEULFV

2QFH WKH PDJD]LQH KDV GRZQORDGHG DQ LQWHUQHW


FRQQHFWLRQ LV QRW UHTXLUHG VR \RX FDQ WDNH \RXU
PDJD]LQH ZLWK \RX ZKHUHYHU \RX JR <RXOO DOVR
QG D KXJH UDQJH RI EDFN LVVXHV RQOLQH WRR
JR DQG KDYH D EURZVH WR VHH ZKDW \RXYH PLVVHG

'RQW
IRUJHW

&217$&7 86 $7
&URVV 6WLWFK &ROOHFWLRQ
32 %R[  1RUWKDP (; '<
(PDLO FVF#GHQQLVFRXN

\RX FDQ EX\ EDFN


LVVXHVRQOLQHDWGHQQLV
VXEVFULEHRQOLQHFRXN
EDFNLVVXHV

('7256 6XVDQ DQG 0DUWLQ 3HQQ\


&20066211* ('725 -HQQ\ 'L[RQ
$57 ('725 &ODLUH *HUUH\
352'8&721 ('725 $QQDEHO $QGUHZV

     



  


   


      



 



     

(GLWRULDO $VVLVWDQWV 1LFROH 3HQQ\ DQG


-HQQ\ -REELQV
&KDUWLQJ VRIWZDUH VXSSOLHG E\ /6RIW
3KRWRJUDSK\ 7RQ\ $WNLQVRQ DW -XVW )RFXV

      


 

   




$'9(5761*
$GYHUWLVHPHQW 6DOHV     
6HQLRU $GYHUWLVLQJ ([HFXWLYH 'DQLHO /LQGVH\

 



  


    
     

   




     


     
   


    

 

0$5.(71* $1' &5&8/$721


6XEVFULSWLRQV 0DQDJHU 6DUDK $OGULGJH
6HQLRU 'LUHFW 0DUNHWLQJ ([HFXWLYH 5DFKHO (YDQV
8. VXEVFULSWLRQ RUGHUV HQTXLULHV    
2YHUVHDV VXEVFULSWLRQ RUGHUV HQTXLULHV      
2UGHU RQOLQH GHQQLVVXEVFULEHRQOLQHFRXN
(PDLO FURVVVWLWFKFROOHFWLRQ#VHUYLFHKHOSOLQHFRXN

  


 

    

  
   

 
 

 

  

 
  

352'8&721
*URXS 3URGXFWLRQ 0DQDJHU 6WHSKHQ &DWKHUDOO

  
 


&ROOHFWLRQ 

&ROOHFWLRQ 

) $ EXUVW RI VXPPHU
FRORXU ZLWK /HVOH\ 7HDUHV
JRUJHRXV ERXTXHW
) &DUU\ RII ILUVW SUL]H DW WKH
YLOODJH VKRZ ZLWK RXU
SUHVHUYH FRYHUV
) 0DNH RXU VSHFLDO GHOLYHU\
UHG SRVWER[ FDUG
) 6WLWFK RXU IUHVK NLWFKHQ
KHUE FROOHFWLRQ
) &KDUW RI WKH PRQWK 
$ FUDIWHUV GUHDP )DVKLRQ
\RXU XOWLPDWH VHZLQJ
URRP E\ 0DULD 'LD]

) 6WLWFK XS D PDJLFDO IORZHU


IDLU\ E\ /HVOH\ 7HDUH
) )DOO LQ ORYH ZLWK -HQQ\
%DUWRQV $XWXPQ VDPSOHU
) 0DNH D SHUVRQDOLVHG
SHQFLO FDVH XVLQJ (PPD
&RQJGHQV IXQ DOSKDEHW
) &UHDWH D ' :HOVK FRWWDJH
) 6WLWFK RXU IUHVK NLWFKHQ
KHUE FROOHFWLRQ
) &KDUW RI WKH PRQWK  %ULQJ
D IDYRXULWH SKRWRJUDSK
WR OLIH ZLWK 'XUHQH -RQHV
YLEUDQW IORUDO IUDPH

*R WR =LQLR IRU
$QGURLG RU 3&0DF
ZZZ]LQLRFRP
FURVVVWLWFKFROOHFWLRQ

%5$1' 86$*( /&(161* $1' 5(35176


&URVV 6WLWFK &ROOHFWLRQ LV DYDLODEOH IRU UHSULQW
V\QGLFDWLRQ OLFHQVLQJ
&RQWDFW 1LFROH $GDPV DW QLFROHBDGDPV#GHQQLVFRXN
RU     
1(;7 668( 21 6$/( )ULGD\ WK 'HFHPEHU
3ULQWHG DQG ERXQG E\ :LOOLDP *LEERQV
'LVWULEXWHG E\ 6H\PRXU 'LVWULEXWLRQ /WG  (DVW 3RXOWU\ $YHQXH
/RQGRQ (&$ 37 &DOO   
21:$5' 5(6$/( 7KLV SXEOLFDWLRQ PD\ QRW EH UHVROG RU RWKHUZLVH
GLVWULEXWHG ZKHWKHU DW EHORZ RU DERYH IDFH YDOXH 1RU FDQ WKLV
SXEOLFDWLRQ EH DGYHUWLVHG IRU VDOH WUDQVIHU RU GLVWULEXWLRQ
3(5066216 0DWHULDO PD\ QRW EH UHSURGXFHG LQ DQ\ IRUP ZLWKRXW
WKH ZULWWHQ FRQVHQW RI WKH SXEOLVKHU 3OHDVH DGGUHVV VXFK UHTXHVWV WR
-RKQ *DUHZDO 'HQQLV 3XEOLVKLQJ  &OHYHODQG 6WUHHW /RQGRQ :7 -'
/$%/7< :KLOH HYHU\ FDUH ZDV WDNHQ SUHSDULQJ WKLV PDJD]LQH WKH
SXEOLVKHUV FDQQRW EH KHOG UHVSRQVLEOH IRU WKH DFFXUDF\ RI WKH
LQIRUPDWLRQ RU DQ\ FRQVHTXHQFH DULVLQJ IURP LW $OO MXGJHPHQWV DUH
EDVHG RQ HTXLSPHQW DYDLODEOH WR &URVV 6WLWFK &ROOHFWLRQ DW WKH WLPH RI
UHYLHZ &URVV 6WLWFK &ROOHFWLRQ WDNHV QR UHVSRQVLELOLW\ IRU WKH FRQWHQW RI
H[WHUQDO ZHEVLWHV ZKRVH DGGUHVVHV DUH SXEOLVKHG LQ WKH PDJD]LQH

(9(5<
668( IHDWXUHV
HDV\WRXVH
FKDUWV \RX FDQ
]RRP
*R WR $SSOH 1HZVVWDQG
IRU L3DG DQG L3KRQH
ZZZELWO\$SSOH&6
&ROOHFWLRQ

0$1$*(0(17
0DQDJLQJ 'LUHFWRU -RKQ *DUHZDO
0' RI $GYHUWLVLQJ -XOLDQ /OR\G(YDQV
1HZVWUDGH 'LUHFWRU 'DYLG %DUNHU
*URXS 0DQDJLQJ 'LUHFWRU DQ :HVWZRRG
&22 %UHWW 5H\QROGV
*URXS )LQDQFH 'LUHFWRU DQ /HJJHWW
&KLHI ([HFXWLYH -DPHV 7\H
&RPSDQ\ )RXQGHU )HOL[ 'HQQLV

$ '(116 38%/&$721 &URVV 6WLWFK &ROOHFWLRQ LV SXEOLVKHG HYHU\ IRXU


ZHHNV E\ 'HQQLV 3XEOLVKLQJ /WG  &OHYHODQG 6WUHHW /RQGRQ :7 -'
&RPSDQ\ UHJLVWHUHG LQ (QJODQG 0DWHULDO PD\ QRW EH UHSURGXFHG LQ
ZKROH RU SDUW ZLWKRXW WKH FRQVHQW RI WKH SXEOLVKHUV 661 

&ROOHFWLRQ 

&ROOHFWLRQ 

) 0DNH D IRONV\ SDWFKZRUN


JHHVH FXVKLRQ
) 6WLWFK D TXDUWHW RI ZLOGOLIH
GHVLJQV IURP =ZHLJDUW
) 2UJDQLVH \RXU UHFLSHV LQ
RXU SUHWW\ UHFLSH ERRN
) )LQG WKH ILUVW SDUW RI RXU
&KULVWPDV EORFN VDPSOHU
GHVLJQHG E\ -HQQ\ %DUWRQ
) &KDUW RI WKH PRQWK  0DNH
/HVOH\ 7HDUHV FRORXUIXO
SRSSLHV LQ FKLQD FXVKLRQ

) 'HFN WKH ZDOOV ZLWK WKH


 GD\V RI &KULVWPDV
) 0DNH D FDNH WLQ EDQG
FRYHUHG LQ MROO\ URELQV
) 6WLWFK D FODVVLF VDPSOHU
ZLWK JROGHQ GHWDLOV
) 6HZ D ZLQWU\ WDEOH UXQQHU
) &UHDWH D PLQL EXVW RI
'RZQWRQV 0U &DUVRQ
) &KDUW RI WKH PRQWK  6WLWFK
'XUHQH -RQHV &KULVWPDV
JXDUGLDQ DQJHO

&203(7721 58/(6 %\ WDNLQJ SDUW LQ RQH RI RXU &RPSHWLWLRQV \RX DJUHH WR EH


ERXQG E\ WKHVH &RPSHWLWLRQ 5XOHV /DWH RU LQFRPSOHWH HQWULHV ZLOO EH GLVTXDOLILHG 3URRI RI
SRVWLQJ LI UHOHYDQW VKDOO QRW EH GHHPHG SURRI RI GHOLYHU\ (QWULHV PXVW EH VXEPLWWHG E\ DQ
LQGLYLGXDO QRW YLD DQ\ DJHQF\ RU VLPLODU DQG XQOHVV RWKHUZLVH VWDWHG DUH OLPLWHG WR RQH SHU
KRXVHKROG 7KH &RPSDQ\ UHVHUYHV WKH ULJKW LQ LWV VROH GLVFUHWLRQ WR VXEVWLWXWH DQ\ SUL]H ZLWK
FDVK RU D SUL]H RI FRPSDUDEOH YDOXH 8QOHVV RWKHUZLVH VWDWHG WKH &RPSHWLWLRQ LV RSHQ WR DOO *%
UHVLGHQWV RI  \HDUV DQG RYHU H[FHSW HPSOR\HHV RI 'HQQLV 3XEOLVKLQJ DQG DQ\ SDUW\ LQYROYHG
LQ WKH FRPSHWLWLRQ RU WKHLU KRXVHKROGV %\ HQWHULQJ D &RPSHWLWLRQ \RX JLYH SHUPLVVLRQ WR XVH
\RXU QDPH OLNHQHVV DQG SHUVRQDO LQIRUPDWLRQ LQ FRQQHFWLRQ ZLWK WKH &RPSHWLWLRQ DQG IRU
SURPRWLRQDO SXUSRVHV $OO HQWULHV ZLOO EHFRPH WKH SURSHUW\ RI WKH &RPSDQ\ XSRQ UHFHLSW DQG
ZLOO QRW EH UHWXUQHG <RX ZDUUDQW WKDW WKH &RPSHWLWLRQ HQWU\ LV HQWLUHO\ \RXU RZQ ZRUN DQG QRW
FRSLHG RU DGDSWHG IURP DQ\ RWKHU VRXUFH I \RX DUH D ZLQQHU \RX PD\ KDYH WR SURYLGH
DGGLWLRQDO LQIRUPDWLRQ 'HWDLOV RI ZLQQHUV ZLOO EH DYDLODEOH RQ UHTXHVW ZLWKLQ WKUHH PRQWKV
RI WKH FORVLQJ GDWH I \RX DUH D ZLQQHU UHFHLSW E\ \RX RI DQ\ SUL]H LV FRQGLWLRQDO XSRQ \RX
FRPSO\LQJ ZLWK DPRQJ RWKHU WKLQJV WKH &RPSHWLWLRQ 5XOHV <RX DFNQRZOHGJH DQG DJUHH WKDW
QHLWKHU WKH &RPSDQ\ QRU DQ\ DVVRFLDWHG WKLUG SDUWLHV VKDOO KDYH DQ\ OLDELOLW\ WR \RX LQ
FRQQHFWLRQ ZLWK \RXU XVH DQGRU SRVVHVVLRQ RI \RXU SUL]H
k &RS\ULJKW 'HQQLV 3XEOLVKLQJ /LPLWHG

127( 72 5($'(56

7KH FKDUWV LQ WKLV PDJD]LQH DUH SURWHFWHG E\ FRS\ULJKW EHORQJLQJ WR


'HQQLV 3XEOLVKLQJ RU LWV GHVLJQHUV DQG FRQWULEXWRUV
'R QRW UHVHOO UHSURGXFH RU GLVWULEXWH WKH FKDUWV ZLWKRXW SHUPLVVLRQ IURP WKH FRS\ULJKW
RZQHU &RS\ULJKW ODZ SURWHFWV FUHDWLYH ZRUN DQG XQDXWKRULVHG FRS\LQJ LV LOOHJDO
+RZHYHU PDNLQJ D VLQJOH FRS\ IRU WKH SXUSRVHV RI SHUVRQDO XVH LV DOORZHG

'HFHPEHU 



&ROOHFWLRQ HVVHQWLDOV

6WLWFK 
'LVFRYHU DOO \RX QHHG WR NQRZ WR VWDUW FURVV VWLWFKLQJ DQG ORWV RI KHOSIXO
KLQWV WR PDNH \RX DQ H[SHUW :H ZLOO KHOS \RX PDNH WKRVH UVW VWLWFKHV

*HWWLQJ VWDUWHG

7U\ WKHVH WKUHH ZD\V WR JHW JRLQJ WKHQ FKRRVH WKH RQH WKDW VXLWV \RX EHVW

6HOHFW \RXU QHHGOH

)DEULF

&RXQW

1HHGOH

$LGD



7DSHVWU\ 

$LGD



7DSHVWU\ 

+DUGDQJHU 

7DSHVWU\ 

(YHQZHDYH 

7DSHVWU\ 

(YHQZHDYH  DQG RYHU 7DSHVWU\ 


73 7R DWWDFK EHDGV XVH D EHDGLQJ
QHHGOH RU D VL]H  WDSHVWU\ QHHGOH

/RRS VWDUW :KHQ VWLWFKLQJ


ZLWK WZR WKUHDGV
&XW D VLQJOH WKUHDG WKDWV
WZLFH DV ORQJ DV \RX QHHG
DQG WKUHDG ERWK HQGV
WKURXJK \RXU QHHGOH
&RPH XS WKURXJK WKH IDEULF
DQG PDNH D KDOI VWLWFK WKHQ
SDVV WKH QHHGOH WKURXJK WKH
ORRS WKDWV IRUPHG DW WKH
EDFN WR VHFXUH LW

&URVV VWLWFK PDGH HDV\

/RRVH HQG VWDUW


:KHQ VWLWFKLQJ ZLWK DQ\
QXPEHU RI WKUHDGV
%ULQJ \RXU QHHGOH XS WKURXJK
WKH IDEULF DQG EH VXUH WR
OHDYH D OLWWOH SLHFH RI WKUHDG
DW WKH EDFN +ROG WKLV WKUHDG
XQGHUQHDWK WKH DUHD WR
EH VWLWFKHG VR WKDW \RX ZLOO
VHFXUH LW ZLWK \RXU UVW IHZ
FURVV VWLWFKHV

/HDUQ WKH EDVLF WHFKQLTXHV


DQG \RXUH UHDG\ IRU WKH SURMHFWV

:DVWH NQRW VWDUW


:KHQ VWLWFKLQJ ZLWK DQ\
QXPEHU RI WKUHDGV
.QRW WKH HQG RI WKH WKUHDG
DQG WDNH WKH QHHGOH GRZQ
WKURXJK WKH IDEULF RQ WKH
ULJKW VLGH D OLWWOH DZD\ IURP
\RXU UVW VWLWFK $V \RX VWLWFK
WRZDUGV WKH NQRW \RX ZLOO
VHFXUH WKH WKUHDG DW WKH EDFN
WKHQ \RX FDQ FXW R WKH NQRW








&URVV VWLWFK RQ DLGD


$LGD KDV JURXSV RI WKUHDGV
ZRYHQ WRJHWKHU WR IRUP
GLVWLQFW EORFNV SHUIHFW IRU
EHJLQQHUV &URVV VWLWFKHV DUH
PDGH RYHU RQH EORFN RI IDEULF
$ TXLFN ZD\ WR ZRUN D OLQH RI
VWLWFKHV LV WR XVH KDOI FURVV
VWLWFKHV JRLQJ RQH ZD\ WKHQ
GRXEOH EDFN RQ \RXUVHOI


'HFHPEHU 

+DOI FURVV VWLWFK


7KLV LV VLPSO\ KDOI RI DQ
RUGLQDU\ FURVV VWLWFK %ULQJ WKH
QHHGOH XS DW  GRZQ DW  XS DW
 DQG VR RQ +DOI FURVV VWLWFKHV
DUH RIWHQ XVHG WR FUHDWH D SDOHU
DUHD RI VWLWFKLQJ IRU H[DPSOH
IRU WKH VN\ RU D EDFNJURXQG
ZKLFK FDQ JLYH WKH LPSUHVVLRQ
RI GLVWDQFH LQ D GHVLJQ

&URVV VWLWFK RQ HYHQZHDYH


(YHQZHDYH DQG OLQHQ IDEULFV
DUH ZRYHQ LQ VLQJOH WKUHDGV
8VXDOO\ \RX ZLOO VWLWFK RYHU WZR
WKUHDGV DV \RX FDQ VHH LQ WKH
H[DPSOH VKRZQ DERYH $V D
UHVXOW RI WKLV D GHVLJQ VWLWFKHG
RQ  FRXQW HYHQZHDYH ZLOO EH
WKH VDPH VL]H DV RQH VWLWFKHG
RQ  FRXQW DLGD

%DFNVWLWFK XVHG IRU RXWOLQHV


RU GHWDLOV LV VKRZQ DV FRORXUHG
OLQHV RQ WKH FKDUW DQG LV GRQH
DIWHU WKH FURVV VWLWFK %ULQJ WKH
QHHGOH XS DW  GRZQ DW  XS DW
 GRZQ DW  XS DW  DQG VR RQ
ZRUNLQJ RYHU RQH EORFN RI DLGD
RU WZR WKUHDGV RI HYHQZHDYH
/RQJ VWLWFK LV ZRUNHG WKH
VDPH ZD\ EXW RYHU PRUH WKDQ
RQH EORFN RI DLGD RU PRUH WKDQ
WZR WKUHDGV RI HYHQZHDYH

&ROOHFWLRQ HVVHQWLDOV

7
7

$
)UDFWLRQDO VWLWFKHV
$ VPDOO V\PERO LQ WKH FRUQHU
RI D VTXDUH $ LQGLFDWHV
D WKUHHTXDUWHU VWLWFK %  I WZR
GLHUHQW V\PEROV RFFXS\ WKH

%
VDPH VTXDUH PDNH WKH OHVV
SURPLQHQW FRORXU D WLQ\
TXDUWHU VWLWFK & WKHQ ZRUN
D WKUHHTXDUWHU VWLWFK LQ WKH
RWKHU FRORXU '  7KH H[DPSOHV

&

'
73 )UDFWLRQDOV DUH HDVLHU
WR ZRUN RQ HYHQZHDYH DV WKHUH
LV QR EORFN WR EH SLHUFHG

VKRZQ DUH RQ DLGD ZKHUH WKH


FHQWUH EORFN KDV WR EH SLHUFHG
WR PDNH WKH TXDUWHU VWLWFK \RX
PD\ ZDQW WR XVH D VKDUSHU
QHHGOH IRU WKLV 

7KH QDO GHWDLOV

5HDGLQJ FKDUWV DQG NH\V

0DQ\ GHVLJQV IHDWXUH EHDGV RU )UHQFK NQRWV


7KHVH DUH HDV\ WR GR EXW SUDFWLVH RQ VFUDS IDEULF UVW

7KH FKDUWV DUH HDV\ WR IROORZ ZKHQ \RX NQRZ KRZ

%HDGV
$WWDFK HDFK EHDG ZLWK D KDOI
FURVV VWLWFK %ULQJ WKH QHHGOH
XS DW RQH ERWWRP FRUQHU RI WKH
VTXDUH WKUHDG WKH EHDG RQ WR
WKH QHHGOH DQG FRPSOHWH WKH
VWLWFK 8VH D EHDGLQJ QHHGOH RU
D QHHGOH ZLWK D VPDOO H\H DQG
VHZLQJ FRWWRQ WKDW PDWFKHV WKH
IDEULF RU VWLWFKLQJ $WWDFK PRUH
UPO\ ZLWK D ZKROH FURVV VWLWFK

)UHQFK NQRWV
 %ULQJ WKH QHHGOH XS WKURXJK
WKH IDEULF :LWK WKXPE DQG
IRUH QJHU KROG WKH WKUHDG
D IHZ LQFKHV DZD\ IURP
ZKHUH LW FDPH XS .HHSLQJ WKH
WKUHDG WDXW WZLVW WKH QHHGOH
WZLFH DURXQG WKH WKUHDG

Q (DFK FKDUW V\PERO UHSUHVHQWV


RQH VWLWFK RQ WKH IDEULF

'DLV\ NH\

Q 7KH NH\ VKRZV WKH WKUHDG


FRORXU WKDW WKH V\PEROV
UHSUHVHQW IRU DOO VWLWFKHV
&KHFN KRZ PDQ\ VWUDQGV
RI WKUHDG \RX QHHG IRU HDFK

&URVV VWLWFK LQ WZR VWUDQGV

Q 7KH WKUHDG FRGHV LQ WKH NH\


DUH IRU '0& $QFKRU DQG
0DGHLUD FRORXUV :H OLVW WKH
WKUHDGV XVHG WR VWLWFK RXU
PRGHO UVW WKHUHIRUH WKH
GHVLJQ PD\ ORRN VOLJKWO\
GLHUHQW LI VWLWFKHG XVLQJ
DQRWKHU EUDQG 

+DOI FURVV VWLWFK LQ WZR VWUDQGV

'0& $QFKRU 0DGHLUD






:KLWH
/LJKW SXUSOH












'DUN SXUSOH
0HG SXUSOH









2II ZKLWH












'DUN SXUSOH

&URVV VWLWFK XVLQJ RQH VWUDQG RI


HDFK FRORXU





/LODF
'0& /LJKW (IIHFWV (

%DFNVWLWFK LQ RQH VWUDQG








'DUN SXUSOH

DOO RXWOLQHV DQG GHWDLOV

)UHQFK NQRWV LQ WZR VWUDQGV








<HOORZ

GDLV\ FHQWUH GHWDLOV

$WWDFK EHDGV ZLWK PDWFKLQJ FRWWRQ


0LOO +LOO VHHG EHDGV  <HOORZ FUHPH
GDLV\ FHQWUH GHWDLOV

6WLWFKHG XVLQJ '0& WKUHDGV RQ FW DLGD


6WLWFK FRXQW [
'HVLJQ DUHD [FP ~[LQ








:KLWH 





Q 7KH DUURZV RQ WKH FKDUW SRLQW


WR WKH FHQWUH RI WKH FKDUW
2Q PRVW GHVLJQV \RX VWDUW
VWLWFKLQJ KHUH WR HQVXUH WKH
GHVLJQ LV FHQWUDO 7R QG WKH
FHQWUH RI \RXU IDEULF IROG LW LQ
KDOI ERWK ZD\V WKH FUHDVH LQ
WKH PLGGOH FRUUHVSRQGV WR
WKH FKDUW FHQWUH ZKHUH \RXOO
PDNH \RXU UVW VWLWFK
 6WLOO KROGLQJ WKH WKUHDG SXVK
WKH QHHGOH GRZQ LQWR WKH
IDEULF FORVH WR ZKHUH LW FDPH
RXW WKHQ SXOO WKH QHHGOH
WKURXJK JHQWO\ WR IRUP
D NQRW 'RQW SXOO WRR KDUG
73 9DU\ WKH QXPEHU RI WZLVWV
RU VWUDQGV WR PDNH ODUJHU RU
VPDOOHU )UHQFK NQRWV

&RORXU







7
7

:KHQ QLVKHG
7DNLQJ FDUH RI \RXU VWLWFKLQJ
:DVK \RXU ZRUN WR UHIUHVK WKH IDEULF DQG WKUHDGV JRRG TXDOLW\
WKUHDGV ZRQW UXQ 8VH ZDUP ZDWHU DQG ULQVH XQWLO WKH ZDWHU
UXQV FOHDU 7R LURQ SODFH \RXU GDPS VWLWFKLQJ RQ X\ WRZHOV
ZLWK D FOHDQ ZKLWH FORWK RYHU WKH WRS DQG SUHVV ZLWK D ZDUP
LURQ XQWLO LW LV DOPRVW GU\


7
1



'HFHPEHU 



%UHDN 
5HOD[ DQG WDNH D EUHDN WR HQMR\ WKLV PRQWKV
SUL]H FURVVZRUG IRU D FKDQFH WR ZLQ D FDUG SDFN

$FURVV
 *ODVV WR VHH RXW RI DW IURQW RI D FDU 
 2SSRVLWH RI VXEWUDFWV 
 7DNH RXW RI 
 7\SH RI GHFRUDWLRQ RQ SDJH  
 8VXDOO\ VZHHW EDNHG JRRG LQ SDVWU\
FDVH 
 3HUVRQ ZKR IOLHV D SODQH 
 5LSSHG 
 6HHWKURXJK RU XQREVWUXFWHG 
 3UHKLVWRULF UHPDLQ 
 'D\V LW WRRN 3KLOHDV )RJJ WR JR DURXQG
WKH ZRUOG 
 &DQYDV GZHOOLQJV 
 6XEVWDQFH ZH ZDVK ZLWK 
 )XQGDPHQWDO 
 6KUXE 
 &RXQWU\ FRQWDLQLQJ 9LHQQD 
 9LVLW WKLV SODFH IRU &KULVWPDV
RQ SDJH  
 1RW GLIILFXOW 
 6\PEROLVHV 

)DEXORXV SUL]HV
2QH OXFN\ ZLQQHU ZLOO UHFHLYH D EXPSHU FDUG SDFN
ZRUWK e 7KH  DSHUWXUH FDUGV DQG HQYHORSHV
LQ D UDQJH RI FRORXUV DQG VL]HV LQFOXGLQJ &KULVWPDV
GHVLJQV DUH SHUIHFW IRU DOO \RXU &KULVWPDV FDUG
PDNLQJ SURMHFWV <RX FDQ QG D KXJH UDQJH RI
SURGXFWV LQFOXGLQJ DOO WKHVH FDUGV DQG KXQGUHGV
PRUH DW ZZZFUDIWFUHDWLRQVFRP

















'RZQ
 0DNH WKLV ZLWK ELUGV RQ SDJH  
 1RW DUWLILFLDO 
 $Q ROGHU PDOH GHHU 
 .HHS 
 7UDGLWLRQDO IHVWLYH GULQN 
 0\WKLFDO ILUH EUHDWKLQJ PRQVWHUV 
 $EUXSWO\ 
 5RFN IURP ZKLFK PHWDOV DUH VRXUFHG 
 6WLWFK WKLV IHOORZV FORWKHV RQ SDJH  
 'LVLQWHUHVWHG 
 &RQYLQFH RU LQGXFH 
 0DNH D FDVH IRU WKHVH RQ SDJH  
 0DNH KDUGHU RU VWURQJHU 
 :LOG RU SULPLWLYH 
 7KLV VHDVRQ LV IHDWXUHG RQ SDJH  
 3DWWHUQV RU DUHDV 
 6KHG WHDUV 
 7KLQJV ZH VHH ZLWK 





































35=( &5266:25' 


$FURVV  WZHOYH  DGYDQFHV  VSHQGV  DOHUW  EHORQJ
 WLWOH  LQQ  DWWLF  GHHU  WUHH  WDEOH  UDW
 SRHPV  VRFLDO  DODUP  VLJQDO  KLOOVLGH  FDQGOH

+RZ WR HQWHU

'RZQ  WRVV  HOHPHQWV  YLGHR  GHVFHQGDQWV


 DSDUWPHQW  FKHVWV  VHWWHH  JLQJHUEUHDG  EDJ
 &KULVWPDV  REWDLQHG  YHW  VSODVK  UHFDOO
 &KLQD  EOXH
:LQQLQJ ZRUG 675$1'

2QFH \RXYH FRPSOHWHG WKH FURVVZRUG WKH VKDGHG ER[HV ZLOO IRUP DQ DQDJUDP RI D IDYRXULWH KREE\
:ULWH \RXU ZLQQLQJ ZRUG DQG &URVVZRUG  RQ WKH EDFN RI D SRVWFDUG RU VWXFNGRZQ HQYHORSH
DGGLQJ \RXU QDPH DQG DGGUHVV DQG SRVW LW WR &URVV 6WLWFK &ROOHFWLRQ 0DJD]LQH 32 %R[ 
1RUWKDP (; '< &RPSHWLWLRQ RSHQ WK 1RYHPEHU WK 'HFHPEHU  )RU FRPSHWLWLRQ
WHUPV DQG FRQGLWLRQV JR WR SDJH 

&RPSHWLWLRQ UXOHV 7R HQWHU WKLV FRPSHWLWLRQ HQWULHV PXVW EH UHFHLYHG EHWZHHQ WK 1RYHPEHU WK 'HFHPEHU  7KH ZLQQHUV ZLOO EH VHOHFWHG DW UDQGRP IURP DOO HQWULHV (QWULHV PXVW
EH VXEPLWWHG E\ DQ LQGLYLGXDO QRW YLD DQ\ DJHQF\ RU VLPLODU DQG XQOHVV RWKHUZLVH VWDWHG DUH OLPLWHG WR RQH SHU KRXVHKROG %\ HQWHULQJ D &RPSHWLWLRQ \RX JLYH SHUPLVVLRQ WR XVH \RXU QDPH
OLNHQHVV DQG SHUVRQDO LQIRUPDWLRQ LQ FRQQHFWLRQ ZLWK WKH &RPSHWLWLRQ DQG IRU SURPRWLRQDO SXUSRVHV <RX ZDUUDQW WKDW WKH &RPSHWLWLRQ HQWU\ LV HQWLUHO\ \RXU RZQ ZRUN DQG QRW FRSLHG RU
DGDSWHG I \RX DUH D ZLQQHU \RX PD\ KDYH WR SURYLGH DGGLWLRQDO LQIRUPDWLRQ 'HWDLOV RI ZLQQHUV ZLOO EH DYDLODEOH RQ UHTXHVW ZLWKLQ WKUHH PRQWKV RI WKH FORVLQJ GDWH <RX DFNQRZOHGJH DQG DJUHH
WKDW QHLWKHU WKH &RPSDQ\ QRU DQ\ DVVRFLDWHG WKLUG SDUWLHV VKDOO KDYH DQ\ OLDELOLW\ WR \RX LQ FRQQHFWLRQ ZLWK \RXU XVH DQGRU SRVVHVVLRQ RI \RXU SUL]H )XUWKHU UXOHV FDQ EH UHDG LQ IXOO RQ SDJH 



'HFHPEHU 

1H[W PRQWK

LQ \RXU -DQXDU\ LVVXH




UHWUHDW
6XEVFULEH

      

1HYHU PLVV DQ LVVXH


RI &URVV 6WLWFK
&ROOHFWLRQ
6HH SDJH  RU FDOO
   

@ 0DNH WKLV LPSUHVVLYH FDVWOH GHVLJQHG E\ 0HJ (YHUVKHG


@ 7UDQVIRUP D VZHHW WLQ LQWR D KRPH IRU \RXU EXWWRQ FROOHFWLRQ
@ 6WLWFK D FDOHQGDU OOHG ZLWK WLPHOHVV PRWLIV GHVLJQHG E\ -HQQ\ %DUWRQ
3/86 $ KDQG WRZHO ERUGHU XQLFRUQ SLFWXUH DQG KLVWRULFDO EDE\ VDPSOHU

21 6$/( )ULGD\ WK 'HFHPEHU

Das könnte Ihnen auch gefallen