Sie sind auf Seite 1von 38

YZZaSL2 Z_b5VAaA)bC Y/ S/KLc/YKSA/Ya cLdSLe? JUUU? 78 DEF?

fJghh

! "#$%#&'$ ()&*+),%-.) /0 1)2/%-'%-/03


(&/2&)**4 (-%5'$$*4 '06 (&/*+),%*
!"#$%&% '( )%&*+,-. +,- /+01" 23%4
!"#$%&'#() *+ ,-&).-"/0 !12

5%6 +46"#&% 7+88% %, 4%9:% &%8 9",;6 -%4,"%<4%8 +,,%=%8 -% 4%#$%4#$% 8:4 &+ #:&6:4%
%6 &+ ,%=;0#"+6"0, %6 74%=8%,6% &%8 740;4%<8 >:" 0,6 %=6%= *+"68? &%8 7"%<;%8 -0,6 "& *+:6
8% -%=*"%4 %6 &%8 7%487%#6"9%8 70:4 -% *:6:48 64+9+:@( A, + 4%1+4>:%= >:%
B%+:#0:7 -% 4%#$%4#$%8 +9+"%,6 6%,-+,#% +< 8:"94% #%8 -%:@ 10-%<&%8 "17&"#"6%8C
DEF &G",*&:%,#% -% &+ #:&6:4% 8:4 &%8 864+6%=;"%8 %6 &G+B0:6"88%1%,6 -% &+ ,%=;0H
#"+6"0, %6I0: DJF &G",6%4+#6"0, -% &+ #:&6:4% %6 -G+:64%8 +87%#68 -% &+ 8"6:+6"0,
"11%=-"+6% 8:4 &%8 4%=8:&6+68 -% &+ ,%=;0#"+6"0,( 5%66% 4%#$%4#$% + 7046%= 8:4 :,
;4+,- ,01B4% -% #:&6:4%8 %6 + 1"8 %, %=9"-%,#% 7&:8 -G:, 10-%<&% ",6%=4%88+,6(
/0:8 8";,+&0,8 #%7%,-+,6 640"8 7"%<;% #+4+#6%=4"86">:%8 -% #%66% &"66%=4+6:4%? 7"%<;%8
>:" ,0:8 0,6 $+,-"#+7%=8( K0:6 -G+B04-? &+ 7&:7+46 -%8 64+9+:@ 8% 8+6"8*0,6 -%
-%=,01",+6"0,8 ;%=0;4+7$">:%8 70:4 -%=8";,%4 &%8 #:&6:4%8 %6 "& %86 7+4 8:"6%
80:9%,6 "17088"B&% -% -%=6%41",%4 &%8 -"1%,8"0,8 #:&6:4%&&%8 >:" 4%,-%,6 #0176%
-%8 -"**%=4%,#%8 0B8%49%=%8( L,8:"6%? B%+:#0:7 -% 4%#$%4#$%8 ";,04%,6 &%8 740H
#%88:8 783#$0&0;">:%8 D#G%86H+<H-"4% &%8 106"9+6"0,8 %6 &%8 #0;,"6"0,8F >:" 80,6
%, M%: -+,8 &%8 ,%=;0#"+6"0,8 74%,+,6 7&+#% -+,8 -%8 #:&6:4%8 -"**%=4%,6%8 8" B"%,
>:% ,0:8 +774%,0,8 7%: -% #$08%8 +< 740708 -% &+ 3')45*.*6#% -% &+ ,%=;0#"+6"0,
-+,8 -%8 #0,6%@6%8 #:&6:4%&8 -"9%48"*"%=8( A, 8% $%:46% +",8" +< :,% N B0OP 6% ,0"4% Q
>:% &%8 64+9+:@ 8:4 &+ #:&6:4% %6 &+ ,%=;0#"+6"0, 8% ;+4-%,6 ;%=,%=4+&%1%,6 -G0:94"4(
L,*",? ,064% 64+9+"& ,G+ 4%#%,8%= >:G:, ,01B4% 4%864%",6 -% 9+4"+B&%8 8"6:+6"0,H
,%&&%8 "11%=-"+6%8 ",6%49%,+,6 -+,8 -%8 ,%=;0#"+6"0,8 74%,+,6 7&+#% -+,8 -%8
#:&6:4%8 -"**%=4%,6%8R ,064% #0174%=$%,8"0, -%8 %**%68 10-%=4+6%:48 -% &+ #:&6:4%
8:4 &+ ,%=;0#"+6"0, %86 -0,# &"1"6%=%( /0:8 7407080,8 :, 640"8"%<1% 10-%<&%? 7&:8
#017&%6? -% &+ #:&6:4% %6 -% &+ ,%=;0#"+6"0,? 74%=8%,60,8 >:%&>:%8 -0,,%=%8
4%=#%,6%8 %, 8+ *+9%:4 %6 %8>:"880,8 >:%&>:%8 7%487%#6"9%8 70:4 &G+9%,"4(
S, 6$"8 +46"#&%? T% 4%9"%T 6$% &+86 JU 3%+48 0* 4%8%+4#$ 0, #:&6:4% +,,%;06"+6"0,? +,- -"8#:88 740;4%88 6$+6 $+8 B%%, 1+-%? 7"6*+&&8 T$"#$ %@"86? +,74087%#68 *04 *:6:4% 4%8%+4#$( A:4 4%9"%T -"8#%4,%- 6$+6 1:#$ 4%8%+4#$ 6%,-8
60 %@+1",% 6$% *0&&0T",; "17&"#"6 10-%&8C DEF 6$% ",*&:%,#% 0* #:&6:4% 0,
,%;06"+6"0, 6+#6"#8 +,- 0:6#01%8? +,-I04 DJF 6$% ",6%4+#6"0, 0* #:&6:4% +,06$%4 740@"1+& 8"6:+6"0,+& #0,-"6"0,8 0, ,%;06"+6"0, 0:6#01%8( K$"8 4%8%+4#$
$+8 B%%, #0,-:#6%- ", + T"-% 9+4"%63 0* #:&6:4%8? +,- $+8 "&&:1",+6%- + ,:1B%4
0* ",6%4%86",; 7+66%4,8( V0T%9%4? T% -%8#4"B% 6$4%% 7"6*+&&8 #$+4+#6%4"8",; 1:#$
0* 6$"8 &"6%4+6:4%? T$"#$ $+9% &"1"6%- 0:4 740;4%88( W"486? 1086 4%8%+4#$ :8%8
XXXXXXXXXXXXXXXX
. Y--4%88 *04 #044%870,-%,#%C !"#$%&% '( )%&*+,-? 2%7+461%,6 0* Z83#$0&0;3? [,"9%48"63 0*
!+43&+,-? 50&&%;% Z+4\? !+43&+,- JU]^J? [_Y( 1;%&*+,-`783#(:1-(%-:
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU( Z:B&"8$%- B3 i&+#\T%&& Z:B&"8$%48?
EUj 50T&%3 c0+-? A@*04- Ak^ E'W +,- lmU !+", _64%%6? !+&-%,? !Y UJE^j? [_Y(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

01

;%0;4+7$"#+& &0#+6"0, +8 + 8:440;+6% *04 #:&6:4%? +,- #0,8%>:%,6&3? "6 "8 0*6%,
,06 7088"B&% 60 87%#"*3 6$% +87%#68 0* #:&6:4% T$"#$ +##0:,6 *04 0B8%49%-"**%4%,#%8( _%#0,-? 1086 4%8%+4#$ ";,04%8 6$% 783#$0&0;"#+& 740#%88%8 D%(;(
106"9%8? #0;,"6"0,8F 6$+6 +4% ",90&9%- ", ,%;06"+6"0,8 ", -"**%4%,6 #:&6:4%8?
+,- #0,8%>:%,6&3? T% \,0T 9%43 &"66&% +B0:6 6$% 3')45*.*6) 0* ,%;06"+6"0,
", -"**%4%,6 #:&6:4%8( Y8 8:#$? 6$%4% "8 + nnB&+#\ B0@GG 6$+6 4%1+",8 ;%,%4+&&3
:,07%,%- ", #:&6:4% +,- ,%;06"+6"0, 4%8%+4#$( a+86&3? 4%8%+4#$ $+8 %@+1",%0,&3 + &"1"6%- ,:1B%4 0* 740@"1+& 8"6:+6"0,+& #0,-"6"0,8 ", ,%;06"+6"0,8
+#4088 #:&6:4%8? +,- 6$:8 0:4 :,-%486+,-",; 0* 6$% 10-%4+6",; %**%#68 0*
#:&6:4% 0, ,%;06"+6"0, "8 &"1"6%-( i+8%- 0, 6$%8% #0,#%4,8? T% +-9+,#% + 6$"410-%& 0* #:&6:4% +,- ,%;06"+6"0,? -%8#4"B% 4%#%,6 8:77046 *04 801% 0* "68
4%&+6"0,8? +,- -%&",%+6% 74087%#68 *04 *:6:4% 4%8%+4#$(

!"#$%&'(#!%"
_0#"+& #0,*&"#6 "8 :B">:"60:8? 1+\",; 0:4 +B"&"63 60 :,-%486+,-? 74%-"#6? +,1+,+;% #0,*&"#6 0,% 0* 6$% 1086 "17046+,6 #$+&&%,;%8 *+#",; $:1+,\",-(
W046:,+6%&3? 09%4 6$% &+86 8%9%4+& -%#+-%8? T% $+9% T"6,%88%- +, %@7&08"0, 0*
6$%043 +,- 4%8%+4#$ 0, T+38 60 #0,864:#6"9%&3 1+,+;% #0,*&"#6 Do4+1%4 p
!%88"#\? EhhmF( !086 ,06+B&3? 8#$0&+48 $+9% 0**%4%- "17046+,6 #0,#%76:+&
7%487%#6"9%8 +,- %17"4"#+& ",8";$68 0, 6$% :8% 0* ,%;06"+6"0, +8 0,% T+3 60
-%+& T"6$ 80#"+& #0,*&"#6( _:#$ 7%487%#6"9%8 ",#&:-% %4*"*9#4 10-%&8 +,6-9% (5%*&) Dc+"**+? EhjJF? T$"#$ 0**%4 74%8#4"76"9% +##0:,68 0* ,%;06"+6"0,
B%$+9"0:4? +8 T%&& +8 9*(#$-(#*"-. DZ4:"66? EhjEF? 4*6"#(#$% Di+q%41+, p
5+440&&? Ehj]R K$01780, p V+86"%? EhhUF? -"/ #"/#$#/:-. /#++%&%"4%' 10-%&8
Dc:B", p i40T,? Eh]mF? T$"#$ 0**%4 -%8#4"76"9% +##0:,68 0* ,%;06"+6"0,
B%$+9"0:4( Y-9+,#%8 ", 6$% 8#"%,#% +,- 74+#6"#% 0* ,%;06"+6"0, +4% +&80
%9"-%,#%- ", 6$% 740&"*%4+6"0, 0* M0:4,+& +46"#&%8? B00\8? +,- %-"6%- 8%4"%8? +8
T%&& +8 #0:48%8? 8%1",+48? +,- 64+",",;8 -%906%- 60 6$"8 607"#( [,-0:B6%-&3?
8:#$ -"9%48% 7%487%#6"9%8 $+9% %,4"#$%- 0:4 :,-%486+,-",; 0* 6$"8 "17046+,6
#0,*&"#6 4%80&:6"0, 6%#$,">:%(
/06T"6$86+,-",; 6$"8 740;4%88? ", 6$"8 7+7%4 T% +4;:% 6$+6 6$%4% "8 + ,%%*04 6$% -%9%&071%,6 0* 3%6 +,06$%4 7%487%#6"9%r+ 4:.(:&-. 3%&'3%4(#$%r60
B:"&- 0, 6$% %@"86",; 8#"%,#% +,- 74+#6"#% 0* ,%;06"+6"0, D8%% +&80 5+" p
24+\%? EhhjR '+,08"\? Ehj]F( K$%04%6"#+&&3 87%+\",;? 8:#$ + 7%487%#6"9% "8
"17046+,6 ;"9%, 6$+6 6$% 9+86 1+M04"63 0* 86:-"%8 0, ,%;06"+6"0, $+9% B%%,
-0,% ", e%86%4, #0,6%@68 DZ4:"66 p 5+4,%9+&%? EhhlR K4"+,-"8? Ehh^F( Y8
8:#$? 6$%4% "8 + ;4%+6 ,%%- 60 :,-%486+,- T$+6 "8 :"#$%&'-. D%6"#F +,- 4:.(:&%;
'3%4#+#4 D%1"#F +B0:6 ,%;06"+6"0, 6$%043 +,- 4%8%+4#$( Z4+#6"#+&&3 87%+\",;?
;"9%, 6$+6 6$% T04&- "8 B%#01",; ",#4%+8",;&3 ",6%4-%7%,-%,6? 8:#$ +
7%487%#6"9% T0:&- "-%+&&3 "&&:1",+6% +-9"#% *04 ,%;06"+6048 T$0 07%4+6%
", 6$% ;&0B+& +4%,+( i%&0T? ", 6$% 87"4"6 0* *:46$%4 -%9%&07",; + #:&6:4+&
7%487%#6"9% 0, ,%;06"+6"0,? T% *"486 7409"-% + B+8"# 09%49"%T 0* #0,#%76:+&H
"8+6"0,8 0* B06$ nn,%;06"+6"0,GG +,- nn#:&6:4%GG( /%@6? T% 4%9"%T 4%8%+4#$ 6$+6
$+8 B%%, #0,-:#6%- 0, #:&6:4% +,- ,%;06"+6"0, ", 6$% &+86 JU 3%+48(
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

02

/,)3*"& *"& &4,$

K$40:;$0:6 0:4 4%9"%T? T% $";$&";$6 801% 0* 6$% 740;4%88 6$+6 $+8 B%%,
1+-% +8 T%&& +8 801% 0* 6$% 7"6*+&&8 6$+6 %@"86 ", 4%8%+4#$ 0, #:&6:4% +,,%;06"+6"0,( a+86&3? T% 0**%4 +, ",6%;4+6"9% *4+1%T04\ 6$+6 B:"&-8 +,- %@6%,-8
0, 6$"8 4%8%+4#$? +,- -"8#:88 801% 87%#"*"# 74087%#68 *04 *:6:4% 4%8%+4#$(

",/%#!*#!%"
/%;06"+6"0, $+8 B%%, -%*",%- +8 6$% 740#%88 B3 T$"#$ 6T0 04 104% 7+46"%8
+66%176 60 4%80&9% 7%4#%"9%- ",#017+6"B&% ;0+&8 D5+4,%9+&% p Z4:"66? EhhJF(
S6 "8 + 7%49+8"9% *041 0* 80#"+& ",6%4+#6"0, 6$+6 "8 #0,-:#6%- *4%>:%,6&3 ",
*041+& +4%,+8? 8:#$ +8 ",6%4,+6"0,+& 4%&+6"0,8? ",-:864"+& 4%&+6"0,8? +,1+,+;%4g8:B04-",+6% 4%&+6"0,8? +8 T%&& +8 ", ",*041+& +4%,+8? 8:#$ +8
",6%47%480,+& 4%&+6"0,8 +,- 1+4"6+& -%#"8"0, 1+\",; DZ4:"66 p 5+4,%9+&%?
EhhlF( Y&6$0:;$ 6$%8% +4%,+8 +4% >:"6% -"9%48%? 6$%4% +4% 801% #0110,
%&%1%,68 0* ,%;06"+6"0, 6$+6 +4% +77&"#+B&% +#4088 #0,6%@68( _7%#"*"#+&&3?
,%;06"+6"0, 8"6:+6"0,8 $+9% +6 &%+86 *"9% #04% #$+4+#6%4"86"#8C DEF 7+46"%8
$+9%? 04 7%4#%"9% 6$+6 6$%3 $+9%? + #0,*&"#6 0* ",6%4%86 09%4 0,% 04 104%
-"**%4%,6 "88:%8R DJF 7+46"%8 +4% %,;+;%- ", #011:,"#+6"0, -%8";,%- 60
-"9"-% +,- %@#$+,;% 0,% 04 104% 8#+4#% 4%80:4#%8? T$"#$ #+, B% %"6$%4
6+,;"B&% D%(;( 10,%3? ;00-8F 04 ",6+,;"B&% D%(;( ",*041+6"0,? 4";$68?
74"9"&%;%8FR DlF #017401"8%8 +4% 7088"B&%R D^F 7+46"%8 1+\% 7409"8"0,+&
0**%48 +,- #0:,6%40**%48 60 %+#$ 06$%4R +,- DmF 7+46"%8 +4% 6%1704+4"&3 M0",%60;%6$%4 90&:,6+4"&3? +,- 6$%"4 0:6#01%8 +4% -%6%41",%- M0",6&3 D5$%46\0**
p L88%4? Eh]fR 54088? EhfmR c:B", p i40T,? Eh]mF(
K$% B+8"# 6$%04%6"#+& ;0+& 0* 4%8%+4#$ 0, ,%;06"+6"0, "8 60 :,-%486+,- 6$%
740#%88%8 +,- 0:6#01%8 0* ,%;06"+6"0,8? T$%4%+8 6$% 74+#6"#+& 04 +77&"%;0+& "8 60 $%&7 ,%;06"+6048 %**%#6"9%&3 4%80&9% #0,*&"#68( e$"&% 6$%4% "8 ,06 0,%
87%#"*"# 10-%& 04 6$%043 0* ,%;06"+6"0,? T"6$", 6$% B%$+9"0:4+& 64+-"6"0, 0*
,%;06"+6"0,? 4%8%+4#$ 0, ,%;06"+6048G 3')45*.*6#4-. '(-(%'? ",#&:-",; 106"9%8
DZ4:"66? EhjER Z4:"66 p 5+4,%9+&%? EhhlF +,- #0;,"6"0,8 Di+q%41+, p /%+&%?
EhjlR K$01780,? EhhUF? $+8 B%%, 9%43 :8%*:& ", :,-%486+,-",; ,%;06"+6"0,8
740#%88%8 +,- 0:6#01%8( W04 %@+17&%? + -%#+-% 0* 4%8%+4#$ $+8 "&&:1",+6%6$% 40&% 0* 106"9+6"0,+& 9+4"+B&%8? 8:#$ +8 +87"4+6"0,8 +,- ;0+&8? 0, ,%;0H
6"+6"0, 6+#6"#8 +,- 0:6#01%8 DZ4:"66 p c:B",? EhjfR Z4:"66 p 5+4,%9+&%?
EhhlF( !086 ,06+B&% ", 6$"8 4%;+4- "8 6$% -:+& #0,#%4, 10-%& DZ4:"66 p
c:B",? EhjfF? T$"#$ $+8 -%&",%+6%- 6$% %**%#68 0* -"**%4%,6 106"9+6"0,+&
04"%,6+6"0,8 0, 864+6%;"# 74%*%4%,#%8 ", ,%;06"+6"0,( Y,06$%4 "17046+,6 &",%
0* 4%8%+4#$ $+8 *0#:8%- 0, ,%;06"+6048G ",*041+6"0, 740#%88",; #+7+B"&"6"%8
+,- $0T 6$%3 "17+#6 M:-;1%,68? B%$+9"0:4+& 740#%88%8? +,- 0:6#01%8 ",
,%;06"+6"0,8 Di+q%41+, p 5+440&&? Ehj]R K$01780,? EhhUF( !04% 4%#%,6&3?
6$%4% $+8 +&80 B%%, + 4%8:4;%,#% 0* ",6%4%86 0, 6$% "17+#6 0* 6$% 80#"+&
#0,6%@6 0, ,%;06"+6"0,8 Do4+1%4 p !%88"#\? EhhmF? %@7+,-",; 0:4 :,-%4H
86+,-",; 0* 8:#$ "88:%8 +8 ,%;06"+6048G 4%&+6"0,8$"78 D%(;( )4%%,$+&;$ p
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

05

5$+71+,? EhhmF? ,%;06"+6"0, 6%+18 D%(;( K$01780,? Z%6%480,? p o4+3? EhhmF?


+,- 80#"+& ,0418 D%(;( Z4:"66 p 5+4,%9+&%? EhhlF( i%&0T? T% #0,6",:% 6$"8
64%,- B3 *0#:8",; 0, 4%8%+4#$ 0, 6$% 4:.(:&-. 4*"(%<( 0* ,%;06"+6"0,8? T$"#$
"8 +4;:+B&3 6$% B40+-%86 80#"+& #0,6%@6 ", T$"#$ ,%;06"+6"0,8 0##:4 D5+4,%H
9+&%? EhhmF( i%*04% 6:4,",; 60 6$"8 &"6%4+6:4%? T% *"486 7409"-% + -%*","6"0, 0*
#:&6:4%? +,- -%8#4"B% T+38 ", T$"#$ #:&6:4%8 $+9% B%%, *0:,- 60 9+43(

(')#'$,
5:&6:4% $+8 B%%, 9%43 B40+-&3 -%*",%- +8 6$% $:1+,H1+-% 7+46 0* 6$%
%,9"40,1%,6 DV%48\09"68? EhmmF? #0,8"86",; 0* B06$ 0BM%#6"9% %&%1%,68 D%(;(
600&8? 40+-8? $0:8",;F? +,- 8:BM%#6"9% %&%1%,68? 04 + nn;40:7G8 #$+4+#6%4"86"#
T+3 0* 7%4#%"9",; "68 80#"+& %,9"40,1%,6GG DK4"+,-"8? Eh]J? 7( lF( K$% &+66%4
",#&:-%8 + 1:&6"-"1%,8"0,+& +44+3 0* 8$+4%- B%&"%*8? ,0418? 0,60&0;"#+&
+88:176"0,8? 40&%8? +,- 9+&:%8 0* + 7+46"#:&+4 ;40:7 DK4"+,-"8? Eh]JF 6$+6
+4% ",86+,6"+6%- ", %9%43-+3 80#"+& 74+#6"#%8 +,- 80#"+& ",86"6:6"0,8? +,T$"#$ $+9% B%%, $"8604"#+&&3 #:&6"9+6%- +,- -%%1%- *:,#6"0,+& +#4088 6"1%(
_:#$ %&%1%,68 0* #:&6:4% #0,86"6:6% -"86",#6 6$%1%8 04 -"1%,8"0,8? T$"#$
+4% 0*6%, 04;+,"8%- ", 4%870,8% 60 "17046+,6 ;40:7 +,- 80#"%6+& #0,#%4,8
D_#$T+46q? Ehh^F(
Y&6$0:;$ %+4&3 4%8%+4#$ ", #4088H#:&6:4+& 783#$0&0;3 T+8 &+4;%&3
+6$%04%6"#+& +,- *0#:8%- 1+",&3 0, ;%0;4+7$"#+& -"**%4%,#%8? ", 6$% &+86 JU
3%+48? 6$%4% $+9% B%%, ,:1%40:8 -"1%,8"0,8 0* #:&6:4+& 9+4"+6"0, T$"#$
$+9% B%%, %17"4"#+&&3 -%4"9%- DV0*86%-%? EhjUR _#$T+46q? Ehh^R K4"+,-"8?
EhjJF( K$% 1086 4%#%,6 4%8%+4#$ ", 6$"8 +4%+ "8 6$+6 7409"-%- B3 _#$T+46q
+,- $"8 +880#"+6%8 D_#$T+46q? EhhJ? Ehh^R _#$T+46q p i"&8\3? EhhUF( i+8%0, %@6%,8"9% 4%8%+4#$ ", 104% 6$+, ^U #0:,64"%8? _#$T+46q 6$%04%6"#+&&3
740708%- +,- %17"4"#+&&3 9+&"-+6%- + #"4#:17&%@ 864:#6:4% 0* 87%#"*"#
#:&6:4+& 9+&:% 637%8( K$%8% #:&6:4+& 9+&:% 637%8 4%74%8%,6 -"**%4%,6 80#"+&&3
8$+4%- +B864+#6 "-%+8 +B0:6 T$+6 "8 ;00-? 4";$6? +,- -%8"4+B&% ", + 80#"%63 04
", +,3 #:&6:4+&&3 B0:,-%- ;40:7 T"6$", ,+6"0,8 D_1"6$ p _#$T+46q? Ehh]F(
!04% 87%#"*"#+&&3? #:&6:4%8 1+3 B% -"**%4%,6"+6%- 0, 6$% -%;4%% 60 T$"#$ 6$%3
9+&:% DEF =*"'%&$-(#'9 D=*..%4(#$#'9FC 6$% "17046+,#% 7&+#%- :70,
",6%4-%7%,-%,#% +,- %1B%--%-,%88 0* 7%07&% ", #&08%&3 \,"6 ;40:78? +,6$% 740106"0, 0* ;40:7 ;0+&8R DJF >#%&-&45)C 6$% "17046+,#% 7&+#%- 0, *"@%D"(%( +8#4"B%-F $"%4+4#$"#+& 40&%8 ", 864:#6:4",; ",6%4+#6"0,8 +,- +&&0#+6",;
4%80:4#%8R DlF ,-'(%&)C 6$% "17046+,#% 7&+#%- 0, +#6"9% %**0468 60 10-"*3
6$% %,9"40,1%,6 +,- ;%6 +$%+- 0* 06$%48 6$40:;$ 8%&*H%,$+,#%1%,6 +,+#$"%9%1%,6R D^F 2:(*"*9) D?"/#$#/:-.#'9FC 6$% "17046+,#% 7&+#%- 0,
",-%7%,-%,#% +,- 6$% 7:48:"6 0* 7%480,+& ",6%4%868 +,- ;0+&8? T$"#$ #+,
B% *:46$%4 -"**%4%,6"+6%- ",60 6T0 #0170,%,68? +**%#6"9% +:60,013 D"(%(
9+&:",; 86"1:&+6"0, +,- $%-0,"81F +,- ",6%&&%#6:+& +:60,013 D"(%( 9+&:",;
*&%@"B&% 6$",\",; +,- 8%&*H-"4%#6"0,FR DmF @6-.#(-&#-" =*99#(9%"(C 6$%
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

00

/,)3*"& *"& &4,$

"17046+,#% 7&+#%- 0, 64+,8#%,-%,#% 0* 8%&*"8$ ",6%4%868? #011"61%,6 60


+B864+#6 74",#"7&%8? +,- 6$% 740106"0, 0* 6$% T%&*+4% 0* 06$%48R +,DfF >-&9*")C 6$% "17046+,#% 7&+#%- 0, 6$% +##%76+,#% 0* 6$% T04&- +8 "6 "8
+,- 74%8%49+6"0, 0* 6$% &+4;%4 %,9"40,1%,6(
Y##04-",; 60 _#$T+46qG8 6$%043? +,3 ,+6"0,? 04 8:B;40:7 ", + ,+6"0, 1+3
B% #$+4+#6%4"8%- B3 + -"86",#6 #:&6:4+& 9+&:% 3-((%&" 04 3&*+#.% T$"#$ 1+78
0,60 6$% #"4#:17&%@ D_1"6$ p _#$T+46q? Ehh]F( W04 %@+17&%? #:&6:4+& 9+&:%8
0* +:60,013 +4% #0,8"86%,6 T"6$ +, %17$+8"8 0, +1B"6"0,? #017%6"6"0,?
+#$"%9%1%,6? +,- 8:##%88 D"(%( 1+86%43F? T$"#$ "8 1086 #$+4+#6%4"86"# 0* 6$%
[_Y +,- 6$% [o D_#$T+46q? Ehh^F( Y:60,013 9+&:%8 1+3 +&80 B% 7+66%4,%T"6$ %;+&"6+4"+, #011"61%,6 +,- $+410,3 9+&:%8? T$"#$ "8 #$+4+#6%4"86"#
0* 1+,3 e%86%4, L:407%+, +,- _#+,-",+9"+, #:&6:4%8 D%(;( /04T+3 +,_T%-%,F( a"\%T"8%? #0,8%49+6"81 9+&:%8 1+3 B% 7+66%4,%- T"6$ $"%4+4#$3
9+&:%8? T$"#$ "8 0*6%, *0:,- ", L+86 Y8"+? K:4\%3? +,- 1+,3 a+6", Y1%4"#+,
#:&6:4%8( V0T%9%4? 6$%4% +4% +&80 #:&6:4%8 ", T$"#$ #0,8%49+6"81 "8 7+66%4,%T"6$ %;+&"6+4"+, #011"61%,6? 8:#$ +8 6$% S84+%&" \"BB:6q +,- +10,;
s:+\%48 ", 6$% [,"6%- _6+6%8(E
e$"&% _#$T+46qG8 #0,#%76:+&"8+6"0, 7409"-%8 +, ",H-%76$ :,-%486+,-",;
0* 9+&:% "17046+,#% +6 6$% #:&6:4% &%9%&? 86"&& +,06$%4 +87%#6 0* #:&6:4% ,06
4%74%8%,6%- ", $"8 #"4#:17&%@? T$"#$ T% T"&& +4;:% "8 4%&%9+,6 60 ,%;06"+6"0,?
"8 6$% -%;4%% 0* $-&#-A#.#() 6$+6 #$+4+#6%4"8%8 #:&6:4%8( V"8604"#+&&3?
9+4"+B"&"63 $+8 B%%, #0,#%"9%- 0* +8 + 86+6"86"#+& "88:%? 3%6 +6 6$% #:&6:4+&
&%9%&? 8#$0&+48 $+9% +&80 +4;:%- 6$+6 "6 4%74%8%,68 +, "17046+,6 #:&6:4+&
#0,864:#6( !04% 87%#"*"#+&&3? #:&6:4%8 #+, B% -"**%4%,6"+6%- *" (#65("%''B
.**'%"%''? T$"#$ 4%*%48 60 6$% -%;4%% 60 T$"#$ 8"6:+6"0,+& ,0418 +4% #&%+4&3
-%*",%- +,- 4%&"+B&3 "1708%- +#4088 #:&6:4%8 D5$+,? )%&*+,-? K4"+,-"8? p
Kq%,;? EhhfR )%&*+,-? 5$+,? K4"+,-"8? b+1+;:#$"? p /"8$""? EhhjR Z%&60?
EhfjF( S, 6";$6 #:&6:4+& 8386%18? 8:#$ +8 '+7+, +,- )%41+,3? 6$%4% "8 &%88
9+4"+B"&"63 ", 6$% 7%4#%76"0, 0* 8"6:+6"0,+& ,0418? +,- 6$%4% "8 ;4%+6%4
nn8"6:+6"0,+& #0,864+",6GG 0, 6$% B%$+9"0:4+& 7+66%4,8 6$+6 +4% +774074"+6%
+#4088 + T"-% 4+,;% 0* 8"6:+6"0,8( S, 06$%4 T04-8? 6$%4% "8 + &%'(&#4(%/ &-"6%
0* B%$+9"0:4 6$+6 "8 60&%4+B&% T"6$", 8"6:+6"0,8? +,- 8+,#6"0,",; 8386%18 +4%
T%&& -%9%&07%- D)%&*+,- %6 +&(? EhhjF( i3 #0,64+86? ", &008% #:&6:4+& 8386%18?
8:#$ +8 6$% [_Y +,- K$+"&+,-? 6$%4% "8 104% 9+4"+B"&"63 ", 6$% 7%4#%76"0,
0* 8"6:+6"0,+& ,0418? +,- 6$%4% "8 + 6&%-(%& &-"6% 0* B%$+9"0:48 6$+6 +4%
+774074"+6% +#4088 8"6:+6"0,8( S, 8:#$ #:&6:4%8? 8+,#6"0,",; 8386%18 +4% &%88
T%&& -%9%&07%- D)%&*+,- %6 +&(? EhhjF(
XXXXXXXXXXXXXXXX
E
d%43 8"1"&+4 #:&6:4+& 7+66%4,8 $+9% B%%, "-%,6"*"%- B3 K4"+,-"8 +,- #0&&%+;:%8 DK4"+,-"8?
EhhmR K4"+,-"8 p )%&*+,-? EhhjF? T$0 -"8#:88%- 7+66%4,8 0* 9%46"#+& ",-"9"-:+&"81 D#01B",+6"0,
0* +:60,013 +,- 1+86%43F? $04"q0,6+& ",-"9"-:+&"81 D#01B",+6"0, 0* +:60,013 +,- %;+&"6+4"+,
#011"61%,6F? 9%46"#+& #0&&%#6"9"81 D#0,8%49+6"81 +,- $"%4+4#$3F? +,- $04"q0,6+& #0&&%#6"9"81
D#0,8%49+6"81 +,- %;+&"6+4"+, #011"61%,6F(

! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

07

S17046+,6&3? T$"&% +&& 0* 6$%8% #:&6:4+& 7+66%4,8 #+, B%#01% %@7&"#"6 D+8
T$%, 0,% "8 64+,87&+,6%- 60 + -"**%4%,6 #:&6:4%F? 6$%3 +4% 104% 0*6%, "17&"#"6?
+,- 07%4+6% +6 + &%9%& 0* #0,8#"0:8,%88 0:68"-% 0* +T+4%,%88( W04 ",86+,#%?
T"6$ 4%87%#6 60 ",-"9"-:+&"81? T$"#$ 7%49+-%8 Y1%4"#+, #:&6:4%? !+4\:8?
o"6+3+1+? +,- V%"1+, DEhh]? 7( jfEF %@7&+", 6$+6C
6$% #:&6:4+&&3 8$+4%- "-%+ 0* 6$% ",-"9"-:+& 8%&* "8 + 7%49+8"9%? 6+\%,H*04H
;4+,6%- +88:176"0, 6$+6 8+6:4+6%8 +&& 0* &"9%- %@7%4"%,#%( S6 "8 $%&- ", 7&+#% B3
&+,;:+;%? B3 6$% 1:,-+,% 4"6:+&8 +,- 80#"+& 74+#6"#%8 0* -+"&3 &"*%? B3 6$%
*0:,-+6"0,+& 6%@68 &"\% 6$% 2%#&+4+6"0, 0* S,-%7%,-%,#% +,- 6$% i"&& 0* c";$68?
+,- B3 9"46:+&&3 +&& 80#"+& ",86"6:6"0,8 ",#&:-",; 6$% &%;+& 8386%1 +,- 6$% 1%-"+(

S, 0:4 9"%T? 0,% 0* 6$% ;0+&8 0* + #:&6:4+& 7%487%#6"9% 0, ,%;06"+6"0, "8 60


1+\% 8:#$ #93.#4#( 6$%1%8 104% %<3.#4#(? +,- 6$:8 60 -%&",%+6% 6$% 134"+- 0*
T+38 ", T$"#$ +87%#68 0* #:&6:4% B%#01% 1+,"*%86 ", ,%;06"+6"0,8( /%@6? T%
4%9"%T 801% 0* 6$% 4%8%+4#$ 0, #:&6:4% +,- ,%;06"+6"0, 6$+6 $+8 B%%,
#0,-:#6%- ", 6$% &+86 6T0 -%#+-%8(

(')#'$, *"& ",/%#!*#!%" $,-,*$(6


_7%#:&+6"0, 0, #:&6:4+& ",*&:%,#%8 0, ,%;06"+6"0, -+6%8 B+#\ 60 6$% %+4&3
JU6$ #%,6:43? +8 %9"-%,#%- B3 6$% 86+6%1%,6 1+-% B3 6$% -"7&01+6 V+40&/"#0&80, DEhlhR ", 24:#\1+,? i%,60,? Y&"? p i+;:4? Eh]f? 7( ^E^FC
K$%4% %@"86 #%46+", 86+,-+4-8 0* ,%;06"+6"0,8 T$"#$ 1";$6 B% 4%;+4-%- +8 7%41+H
,%,6 +,- :,"9%48+&( Y7+46 *401 6$%8% 86+,-+4-8? T$"#$ 8$0:&- B% #0110, 60
+&& -"7&01+#3? 6$%4% +4% 1+4\%- -"**%4%,#%8 ", 6$% 6$%043 +,- 74+#6"#% 0* 6$%
8%9%4+& ;4%+6 70T%48( K$%8% -"**%4%,#%8 +4% #+:8%- B3 9+4"+6"0,8 ", ,+6"0,+&
#$+4+#6%4? 64+-"6"0,? +,- 4%>:"4%1%,68( A,% #+, 6$:8 -"86",;:"8$ 637%8 04
87%#"%8 0* -"7&01+#3 +,- "6 "8 "17046+,6 6$+6 6$%8% -"86",#6"0,8 8$0:&- B%
4%#0;,"q%-(

K$0:;$ 87%#:&+6"0, 0, #:&6:4+& ",*&:%,#%8 0, ,%;06"+6"0, $+8 + &0,; 7+86?


6$% 8#"%,6"*"# 86:-3 0* 6$% 8:BM%#6 $+8 + 8$046 $"86043( S6 "8 0,&3 ", 6$% &+86 JU
3%+48 6$+6 T% $+9% 8%%, +, ",#4%+8% ", 6$% +10:,6 0* 4%8%+4#$ 0, #:&6:4+&
-"**%4%,#%8 ", ,%;06"+6"0,( Z%4$+78 1086 +77+4%,6 "8 6$% +B:,-+,#% 0*
+46"#&%8 +,- B00\8 7409"-",; -%8#4"76"0,8 +,- +-9"#% 0, $0T 60 ,%;06"+6% ",
,:1%40:8 #0:,64"%8( K0 -+6%? 0,% #+, *",- ",*041+6"0, +B0:6 ,%;06"+6",;
", 5$",+ Di&+#\1+,? Ehh]R )0$? EhhfR Z3% EhjJR _$%,\+4 p c0,%,? Ehj]F?
'+7+, DV+T438$ p t+"#$\0T8\3? EhjhR !+4#$? EhjjR d+, t+,-6? Eh]UF?
o04%+ DK:,;? EhhEF? !%@"#0 DV+44"8 p !04+,? Eh]hF? c:88"+ D_#$%#6%4?
EhhjR _1"6$? EhjhF? _7+", Di:460,? Ehh^F +10,; 06$%48 DY#:**? Ehh]R 50$%,?
Ehh]R _+&+#:8%? EhhEF( a"\%T"8%? 6$%4% +4% + ,:1B%4 0* ",H-%76$ #+8% 86:-"%8
+,- +4#$"9+& 86:-"%8 0* ",6%4#:&6:4+& ,%;06"+6"0,8 6$+6 +4% +9+"&+B&% DY,+,-?
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

08

/,)3*"& *"& &4,$

EhjER 50$%,? EhhER 50$%,? Ehj]R W+:4% p c:B",? EhhlR )&%,,? e"61%3%4?
p _6%9%,80,? Eh]]R o"1:4+? EhjUR _64+q+4? EhjEF( e$"&% 8:#$ -"8#:88"0,8
0**%4 4"#$ +##0:,68 0* #:&6:4%H87%#"*"# ,%;06"+6"0, 863&%8 +,- 87%#"*"#
",6%4#:&6:4+& #&+8$%8? 6$%3 +4% &%88 :8%*:& *04 6%86",; 6$%04"%8 +B0:6 #:&6:4%
+,- ,%;06"+6"0, +#4088 + 9+4"%63 0* #0,6%@68(
K$%4% +4%? $0T%9%4? + ;40T",; ,:1B%4 0* %17"4"#+& #4088H#:&6:4+&
,%;06"+6"0, 86:-"%8 6$+6 -0 0**%4 8:#$ 706%,6"+&( A:4 4%9"%T 0* 6$% &+86 JU
3%+48 0* %17"4"#+& M0:4,+& +46"#&%8 -"8#%4,%- 6$+6? ;%,%4+&&3 87%+\",;?
4%8%+4#$%48 86:-3",; #:&6:4% +,- ,%;06"+6"0, %@+1",% 0,% 04 B06$ 0* 6$%
*0&&0T",; "17&"#"6 10-%&8C C5% #"+.:%"4% *+ 4:.(:&% *" "%6*(#-(#*" (-4(#4' -"/
*:(4*9%' D!0-%& EF +,-I04 C5% #"(%&-4(#*" A%(D%%" 4:.(:&% -"/ 3&*<#9-.
'#(:-(#*"-. 4*"/#(#*"' *" "%6*(#-(#*" *:(4*9%' D!0-%& JF( K0 74%*+#% 6$%
*0&&0T",; -"8#:88"0,? 4%8%+4#$ $+8 B%%, #0,-:#6%- ", + T"-% 9+4"%63 0*
#:&6:4%8? +,- $+8 "&&:864+6%- 801% ",6%4%86",; 8"1"&+4"6"%8 +,- -"**%4%,#%8 ",
,%;06"+6"0, +#4088 #:&6:4%8( V0T%9%4? *04 6$% 1086 7+46? 6$%4% "8 +,
+B:,-+,#% 0* #0,*&"#6",; +,- :,%@7%#6%- 7+66%4,8 ", 6$% &"6%4+6:4%? 1+\",;
"6 -"**"#:&6 60 1+\% +,3 ;%,%4+&"8+6"0,8( S, 0:4 9"%T? 6$"8 "8 -:% 60 6$4%%
;%,%4+& 7"6*+&&8( W"486? 1:#$ 4%8%+4#$ :8%8 6%*6&-35#4-. .*4-(#*" +8 +
8:440;+6% *04 #:&6:4%? 4+6$%4 6$+, 6$%04%6"#+& +##0:,68 0* #:&6:4% 74%9"0:8&3
-"8#:88%- DV0*86%-%? EhjUR _#$T+46q? Ehh^F( 50,8%>:%,6&3? "6 "8 ,06 7088"B&%
60 87%#"*3 6$% +87%#68 0* #:&6:4% T$"#$ +##0:,6 *04 +,3 -"**%4%,#%8( _%#0,-?
1:#$ 4%8%+4#$ ";,04%8 6$% 3')45*.*6#4-. 3&*4%''%' D%(;( 106"9%8? ",*041+6"0,
740#%88",;F 6$+6 +4% ",90&9%- ", ,%;06"+6"0,8 ", -"**%4%,6 #:&6:4%8? +,- +8
8:#$ T% \,0T 9%43 &"66&% +B0:6 6$% 783#$0&0;3 0* ,%;06"+6"0, ", -"**%4H
%,6 #:&6:4%8( )%,%4+&&3 87%+\",;? 6$%4% "8 + nnB&+#\ B0@GG 6$+6 4%1+",8
:,07%,%- ", 6$% +4%+ 0* #:&6:4% +,- ,%;06"+6"0, 4%8%+4#$( K$"4-? 4%8%+4#$
$+8 %@+1",%- 6$% %**%#6 0* 0,&3 + &"1"6%- ,:1B%4 0* 740@"1+& 8"6:+6"0,+&
#0,-"6"0,8 D%(;( B:3%4g8%&&%4 40&%8F 0, ,%;06"+6"0,8 +#4088 #:&6:4%8? +,- 6$:8
0:4 :,-%486+,-",; 0* 6$% 9*/%&-(#"6 %**%#68 0* #:&6:4% D%(;( "68 ",6%4+#6"0,
T"6$ 8"6:+6"0,8F "8 &"1"6%-( i%&0T? T% T"&& -%8#4"B% 801% 0* 6$% 74%9"0:8
4%8%+4#$ T"6$", 6$% +*04%1%,6"0,%- 10-%&8? +,- %&+B04+6% 0, 6$%8% 70",68(
e% 6$%, B:"&- 0, 6$"8 +,- +-9+,#% + 6$"4- 10-%& 0* #:&6:4% +,- ,%;06"+6"0,
6$+6 T% 0**%4 +8 + 104% #0174%$%,8"9% *4+1%T04\( c%#%,6 86:-"%8 6$+6
8:77046 #0170,%,68 0* 6$"8 10-%& T"&& B% -%8#4"B%-? +,- ,:1%40:8
74087%#68 *04 *:6:4% 4%8%+4#$ T"&& B% -%&",%+6%-(J
XXXXXXXXXXXXXXXX
J
K$"8 4%9"%T 1086&3 #0,6+",8 M0:4,+& +46"#&%8 7:B&"8$%- ", 6$% &+86 JU 3%+48 &"86%- ",
E')45*.*6#4-. F#(%&-(:&% DZ_b5 aSKF( A,&3 +46"#&%8 T$"#$ %@7&"#"6&3 #0,8"-%4%- 6$% 40&% 0*
#:&6:4% ", ,%;06"+6"0, #0,6%@68 +4% 4%9"%T%-( _6:-"%8 6$+6 ",#&:-%- 8+17&%8 *401 06$%4 #:&6:4%8
B:6 -"- ,06 87%#"*"#+&&3 +--4%88 6$% "88:% 0* #:&6:4% T%4% ,06 ",#&:-%-? ,04 T%4% 86:-"%8 0,
74%*%44%- 1%6$0-8 0* #0,*&"#6 4%80&:6"0, +,- #0,*&"#6 863&%8 D"(%( B+8%- 0, c+$"1? EhjlF T$"#$
T%4% 104% ;%,%4+& 6$+, ,%;06"+6"0,8 7%4 8%( _%9%4+& 4%#%,6 6$%8%8 +,- #0,*%4%,#% 7+7%48 T$"#$
#0:&- B% &0#+6%- T%4% +&80 ",#&:-%-(

! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

0L

9:;<= >? (@=A@BC= !DE=@<DF<G :D "<H:AICAI:D#CFAIFG CD;


%@AF:J<G
A9%4 6$% &+86 *%T -%#+-%8? ,:1%40:8 86:-"%8 $+9% %@+1",%- T$%6$%4 6$%4%
+4% #4088H#:&6:4+& -"**%4%,#%8 ", 6$% :8% 0* #%46+", 6+#6"#8 +,- 0:6#01%8 ",
,%;06"+6"0,8( K$% ;%,%4+& +7740+#$ ", 1+,3 0* 6$%8% ",9%86";+6"0,8 T+8
60 %@+1",%? ", &+B04+6043 8"1:&+6"0,8? T$%6$%4 7%07&% &0#+6%- ", -"**%4%,6
,+6"0,8 :8% -"**%4%,6 ,%;06"+6"0, 6+#6"#8 +,-I04 +#$"%9% $";$%4I&0T%4 0:6H
#01%8( L@"86",; 4%8%+4#$ #+, B% *0:,- #017+4",; 6$% 6+#6"#8 +,- 0:6#01%8
0* Y1%4"#+,8 T"6$ i4+q"&"+,8 +,- '+7+,%8% D%(;( )4+$+1? Ehj^F? 5+,+-"+,8
D%(;( Y-&%4? )4+$+1? p )%$4\%? Ehj]F? 5$",%8% D%(;( Y-&%4? i4+$1? p
)4+$+1? EhhJF? W4%,#$ D%(;( 5+17B%&&? )4+$+1? '0&"B%46? p !%"88,%4?
EhjjF? +,- c:88"+,8 D%(;( )4+$+1? L9%,\0? p c+M+,? EhhlF? +10,; 06$%48(
W";( E "&&:864+6%8 6$% "17&"#"6 10-%& B%",; 6%86%- ", 1+,3 0* 6$%8% 86:-"%8(
S, ;%,%4+&? -"**%4%,#%8 +4% *0:,- ", 1086 0* 6$%8% 86:-"%8? 3%6 1086 :8%;%0;4+7$"#+& &0#+6"0, 4+6$%4 6$+, #:&6:4+& -"1%,8"0,8? +,- 6$:8 6$% 4%+80,8
T$3 6$%8% -"**%4%,#%8 %@"86 +4% 0*6%, :,#&%+4( Y--"6"0,+&&3? 6$% 783#$0H
&0;"#+& 740#%88%8 ",90&9%- T%4% ,06 ",9%86";+6%- ", 1086 86:-"%8? &%,-",;
&"66&% :,-%486+,-",; 60 6$% #0;,"6"9% 04 106"9+6"0,+& :,-%47",,",;8 0* 6$%
4%8:&68(
=:.(:&% -"/ G%6*(#-(#*" C-4(#4'( _%9%4+& 86:-"%8 $+9% %@+1",%- T$%6$%4
7%07&% :8% -"**%4%,6 6+#6"#8 ", ,%;06"+6"0,8 +#4088 #:&6:4%8( !+,3 0* 6$%8%
86:-"%8 %@+1",%- 0,% 04 B06$ 0* 6$% *0&&0T",; >:%86"0,8C DEF 20 7%07&%
:8% 740B&%1H80&9",; 6+#6"#8 60 6$% 8+1% %@6%,6 ", -"**%4%,6 ,+6"0,8u +,-I04
DJF 20 7%07&% 4%#"740#+6% 740B&%1H80&9",; 6+#6"#8 60 6$% 8+1% %@6%,6 ",

KY5KS5_
"

5A[/Kcb
D"(%( ;%0;4+7$"# &0#+6"0,F
#
"

/L)AKSYKSA/
A[K5A!L_

3!/'$, >? #K< IDE=@<DF< :E F@=A@B< :D D<H:AICAI:D ACFAIFG CD; :@AF:J<G?


! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

7M

/,)3*"& *"& &4,$

-"**%4%,6 ,+6"0,8u i%#+:8% 0* 6$% +*04%1%,6"0,%- 7"6*+&&8? "6 "8 -"**"#:&6 60


-"8#%4, -%*","6"9% 7+66%4,8 ", 6$% 4%8:&68( W04 %@+17&%? Y-&%4 +,- )4+$+1
DEhj]F +,- Y-&%4 %6 +&( DEhj]F *0:,- 6$+6 W4%,#$H87%+\",; 5+,+-"+,8
:8%- *%T%4 #007%4+6"9% 6+#6"#8 6$+, %"6$%4 Y1%4"#+,8? L,;&"8$H87%+\",;
5+,+-"+,8? 04 !%@"#+,8 ", + &+B04+6043 8"1:&+6"0, 0* ,%;06"+6"0,( _:#$
4%8:&68 T%4% 07708"6% 60 T$+6 T+8 74%-"#6%-? ,+1%&3 6$+6 W4%,#$H5+,+-"+,8
T0:&- %,;+;% ", 104% #007%4+6"0,( S, + &+6%4 86:-3? Y-&%4 %6 +&( DEhhJF
*0:,- 6$+6 Y1%4"#+,8 :8%- +%D%& #007%4+6"9% 6+#6"#8 D"(%( >:%86"0,8 +,- 8%&*H
-"8#&08:4%F? +,- 104% ",864:1%,6+& 6+#6"#8 D"(%( 6$4%+68 +,- #011"61%,68 60
708"6"0,8F +8 #017+4%- 60 5$",%8% ,%;06"+6048( K$% #0:,643 0* 04";", +&80
+**%#6%- ,%;06"+6048G ,0,9%4B+& B%$+9"0:48( W04 %@+17&%? 5$",%8% 8:BM%#68
",6%44:76%- %+#$ 06$%4 &%88 0*6%,? +,- :8%- 6$% 6%418 nn,0GG +,- nn30:GG &%88
0*6%, 6$+, [_ 8:BM%#68( S, +,06$%4 86:-3? )4+$+1 DEhjmBF *0:,- ,0 -"*H
*%4%,#%8 ", 6$% -%;4%% 60 T$"#$ Y1%4"#+,? '+7+,%8%? +,- i4+q"&"+, 8:BM%#68
:8%- +;;4%88"9% 6+#6"#8( V0T%9%4? Y1%4"#+, ,%;06"+6048 T%4% *0:,- 60 :8%
+;;4%88"9% 6+#6"#8 %+4&"%4 6$+, '+7+,%8% 04 i4+q"&"+, 8:BM%#68( _"1"&+4 60 6$%
06$%4 86:-"%8 4%9"%T%-? 6$% 6$%04%6"#+& 1%#$+,"818 :,-%4&3",; 6$% %**%#68 +4%
:,#&%+4(
A6$%4 4%8%+4#$ $+8 %@+1",%- T$%6$%4 740B&%1H80&9",; 6+#6"#8 +4%
&%4#3&*4-(%/? 04 1+6#$%- 60 6$% 8+1% %@6%,6 ", ,%;06"+6"0,8 ", -"**%4%,6
#:&6:4%8 DY-&%4 %6 +&(? Ehj]R Y-&%4 %6 +&(? EhhJF( V0T%9%4? 4%8%+4#$ 0, 6$"8
>:%86"0, $+8 +&80 3"%&-%- %>:"90#+& 4%8:&68( _01% 86:-"%8 8$0T 6$+6? 4%;+4-H
&%88 0* #:&6:4%? ,%;06"+6048 4%7046 6$+6 6$%3 4%#"740#+6% 740B&%1H80&9",;
6+#6"#8( W04 %@+17&%? )4+$+1 %6 +&( DEhhlF *0:,- 6$+6 B06$ _09"%6 +,Y1%4"#+, ,%;06"+6048 4%7046%- 6$%3 1+6#$%- 6$%"4 #0:,6%47+468G 740B&%1H
80&9",; 864+6%;"%8? +,- Y-&%4 %6 +&( DEhhJF *0:,- 6$+6 Y1%4"#+, +,- 5$",%8%
,%;06"+6048 4%7046%- 1+6#$",; 6$%"4 #0:,6%47+468G 6+#6"#8 +8 T%&&( A, 6$%
06$%4 $+,-? Y&&%4$%"&";%,? )4+$+1? +,- a", DEhjmF *0:,- 6$+6 '+7+,%8%
8:BM%#68 4%7046%- 104% 8"1"&+4"63 ", 6$% :8% 0* nn$0,%86 6+#6"#8GG B%6T%%,
6$%18%&9%8 +,- 6$%"4 #0:,6%47+468? +8 #017+4%- 60 B06$ i4+q"&"+, +,Y1%4"#+, ,%;06"+6048( a"\%T"8%? Y-&%4 %6 +&( DEhj]F *0:,- 6$+6 W4%,#$H
87%+\",; 5+,+-"+,8 T%4% 1:#$ &%88 &"\%&3 60 4%7046 6$+6 6$%3 +,- 6$%"4
#0:,6%47+468 4%#"740#+6%- 740B&%1H80&9",; 6+#6"#8? +8 #017+4%- 60 Y1%4"H
#+,8? !%@"#+,8? +,- L,;&"8$H87%+\",; 5+,+-"+,8( K$% +:6$048 #0,#&:-%6$+6 #007%4+6"9% B%$+9"0:48 +4% ,06 +&T+38 4%#"740#+6%- ", ,%;06"+6"0,8 ",
+&& #:&6:4%8? 3%6 6$% 6$%04%6"#+& :,-%47",,",;8 +&&0T",; *04 74%-"#6"0,8 T%4%
,06 87%#"*"%-(
c%#%,6&3? !#5:8\%4 DEhh^F $+8 +90"-%- 6$%8% 7"6*+&&8 B3 0**%4",; +
6$%04%6"#+& *0:,-+6"0, :70, T$"#$ 6$% 4%#"740#+6"0, 0* 6+#6"#8 1+3 B%
B+8%-( _7%#"*"#+&&3? $% +4;:%- 6$+6 4%#"740#+6"0, 0* 6+#6"#8 "8 104% &"\%&3 60
0##:4 ", #:&6:4%8 6$+6 %17$+8"8% %@#$+,;% 09%4 #011:,+& 4%&+6"0,8$"78
D!"&&8 p 5&+4\? EhjJF( S, %@#$+,;% 4%&+6"0,8$"78? T$"#$ 6%,- 60 B%
%17$+8"8%- 104% ", ",-"9"-:+&"86"# #:&6:4%8? 7+46"#"7+,68 \%%7 64+#\ 0* 6$%
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

7>

%@#$+,;%8 6$+6 0##:4? +,- 4%#"740#+6% 6$%1 "11%-"+6%&3 +,- ", \",-( i3
#0,64+86? ", #011:,+& 4%&+6"0,8$"78? T$"#$ 6%,- 60 B% %17$+8"8%- 104%
", #0&&%#6"9"86 #:&6:4%8? B%,%*"68 +4% ;"9%, +##04-",; 60 06$%4G8 "%%/'? +,6$%4% "8 &%88 0* +, %17$+8"8 0, 4%#"740#+6",; %@#$+,;%8( S, 8:77046 0* 6$"8
6$%043? !#5:8\%4 *0:,- 6$+6 "11%-"+6% 4%#"740#"63 T+8 104% #$+4+#6%4"86"#
0* ,%;06"+6"0,8 ", 6$% [_Y +8 #017+4%- 60 o04%+( K$"8 86:-3 "8 ,06+B&% *04
"68 - 3&#*&# 6$%043 4%;+4-",; 4%#"740#"63 8#4"768 ", ,%;06"+6"0,? +8 T%&& +8 "68
*0#:8 0, -"1%,8"0,8 0* #:&6:4+& 9+4"+6"0, D%(;( ",-"9"-:+&"81g#0&&%#6"9"81F
4+6$%4 6$+, ;%0;4+7$"#+& &0#+6"0,(
=:.(:&% -"/ G%6*(#-(#*" H:(4*9%'( Y,06$%4 +4%+ 0* ",>:"43 6$+6 $+8
4%#%"9%- +66%,6"0, "8 6$% ",*&:%,#% 0* #:&6:4% 0, ,%;06"+6"0, 0:6#01%8? 8:#$
+8 ",-"9"-:+& +,- M0",6 740*"68( _%9%4+& 4%8%+4#$%48 $+9% 7086:&+6%- 6$+6
,%;06"+6048 ", #%46+", #:&6:4+& ;40:78 T"&& +#$"%9% &0T%4 0:6#01%8 6$+,
,%;06"+6048 ", 06$%4 #:&6:4+& ;40:78( W04 %@+17&%? Y-&%4 %6 +&( DEhj]F
74%-"#6%- 6$+6 W4%,#$H87%+\",; 5+,+-"+,8 +,- !%@"#+,8 T0:&- 7&+#% &%88
%17$+8"8 0, 740*"68 +,- 6$%4%*04% +#$"%9% &0T%4 10,%6+43 0:6#01%8 6$+,
L,;&"8$H87%+\",; 5+,+-"+,8 +,- Y1%4"#+,8( V0T%9%4? 6$%4% T%4% ,0
8";,"*"#+,6 -"**%4%,#%8 +10,; 6$% *0:4 ;40:78 0, 740*"68 +#$"%9%- ", +
,%;06"+6"0, 8"1:&+6"0,( a"\%T"8%? Y&&%4$%"&";%, %6 +&( DEhjmF 74%-"#6%- 6$+6
M0",6 0:6#01%8 T0:&- B% &0T%86 *04 i4+q"&"+,8? ,%@6 $";$%86 *04 Y1%4"#+,8?
+,- $";$%86 *04 6$% '+7+,%8%( K$%"4 4%8:&68? $0T%9%4? -"- ,06 8:77046 6$"8
$3706$%8"8( i3 #0,64+86? _$+7"4+ +,- i+88 DEh]mF -"- *",- #:&6:4+& -"**%4H
%,#%8 ", 0:6#01%8 ", + 86:-3 #0,-:#6%- ", 2%,1+4\? W4+,#%? )%41+,3?
S6+&3? 6$% /%6$%4&+,-8? /04T+3? _T%-%,? 6$% [o? +,- 6$% [_Y( K$%3 *0:,6$+6 Y1%4"#+,8 T%4% 104% &"\%&3 60 8%66&% +,- &%88 &"\%&3 60 -%+-&0#\ 6$+, 6$%
06$%4 ;40:78? 3%6 6$% 4%+80, *04 6$"8 -"**%4%,#% "8 :,#&%+4(
S, + 4%#%,6 86:-3 %@+1",",; 0:6#01% -"**%4%,#%8 ", ,%;06"+6"0,? /+6H
&+,-8134 +,- c0;,%8 DEhhmF -"- 1+\% 74%-"#6"0,8 B+8%- 0, -"1%,8"0,8
0* #:&6:4%? 4+6$%4 6$+, 0, ;%0;4+7$"# &0#+6"0,( i+8%- 0, V0*86%-% DEhjUF?
6$%3 #4%+6%- 6T0 07708",; $3706$%8%8C /04T%;"+,8 T0:&- $+9% 104% ",6%H
;4+6"9% 0:6#01%8 6$+, !%@"#+,8 B+8%- 0, 6$%"4 &0T 1+8#:&","63? T%+\
:,#%46+",63 +90"-+,#%? +,- &0T 70T%4 -"86+,#% 8#04%8( Y&6%4,+6"9%&3? B+8%0, V0*86%-%G8 DEhjUF ",-"9"-:+&"81 8#04%8? 6$%3 $3706$%8"8%- 6$+6 !%@"#+,8
T0:&- $+9% 104% ",6%;4+6"9% 0:6#01%8 6$+, /04T%;"+,8( _:77046 T+8
*0:,- *04 6$%"4 *"486 $3706$%8"8? ", 6$+6 /04T%;"+,8 $+- 104% ",6%;4+6"9%
0:6#01%8 6$+, !%@"#+,8( S, +--"6"0,? 8:77&%1%,6+43 +,+&38%8 "&&:864+6%6$+6 /04T%;"+, 0**%48 B%#+1% 104% +,- 104% ",6%;4+6"9% +8 #017+4%- 60
!%@"#+, 0**%48( [,&"\% 6$% 74%9"0:8 86:-"%8? 6$"8 86:-3 -"- %@7&04% 801% 0*
6$% 1%#$+,"818 :,-%4&3",; -"**%4%,#%8 ", 0:6#01%8? +&B%"6 7086 $0#? T$"#$
4%74%8%,68 +, "17046+,6 +-9+,#%(
_6:-"%8 $+9% +&80 %@+1",%- T$%6$%4 6$%4% +4% #%46+", 6+#6"#8 D%(;( 740B&%1
80&9",;F T$"#$ +4% #"'(&:9%"(-. 60 +66+",",; $";$ 0:6#01%8 ", +&& #:&6:4%8
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

7N

/,)3*"& *"& &4,$

DY-&%4 %6 +&(? Ehj]R Y&&%4$%"&";%, %6 +&(? EhjmR )4+$+1? EhjlR )4+$+1 %6 +&(?
EhhlR )4+$+1? o"1? a",? p c0B",80,? EhjjF( Y;+",? 6$% %9"-%,#% 4%;+4-",;
6$"8 &",% 0* ",>:"43 "8 1"@%-( S, 801% 86:-"%8? )4+$+1 +,- $"8 #0&&%+;:%8
"&&:864+6%- 6$+6 +, 0770,%,6G8 :8% 0* 740B&%1H80&9",; 6+#6"#8 ",#4%+8%- 6$%
06$%4 ,%;06"+6048G ",-"9"-:+& 740*"68 +10,; #%46+", #:&6:4+& ;40:78? ",H
#&:-",; Y1%4"#+,8? 5$",%8%? _09"%68? Y,;&07$0,% 5+,+-"+,8? +,- W4%,#$
DY-&%4 %6 +&(? EhhJR )4+$+1 %6 +&(? EhhlR )4+$+1? !",6:? p c0-;%48? Ehh^F(
A6$%4 86:-"%8 B3 6$% 8+1% +:6$048? $0T%9%4? 8$0T ,0 4%&+6"0,8$"7 B%6T%%,
0770,%,68G :8% 0* 740B&%1H80&9",; 6+#6"#8 +,- ",-"9"-:+& 740*"68 +10,;
!%@"#+,8? W4+,#07$0,% 5+,+-"+,8? i4"6"8$? 5$",%8% ", K+"T+,? o04%+,8?
)%41+,8 D)4+$+1 %6 +&(? Ehh^F? +8 T%&& +8 '+7+,%8% +,- i4+q"&"+, ,%;0H
6"+6048 D)4+$+1? EhjlF( V0T%9%4? 6$% 6$%04%6"#+& 4+6"0,+&% *04 6$%8% *",-",;8
"8 &+#\",;(
W",+&&3? 801% 86:-"%8 $+9% +&80 %@+1",%- 6$% 4%&+6"0,8$"7 B%6T%%, ,%;0H
6"+6048G 0T, 740B&%1H80&9",; 6+#6"#8 +,- 6$%"4 0T, 0:6#01%8 +#4088 #:&6:4%8(
e$"&% -"**%4%,#%8 $+9% B%%, *0:,-? 6$%3 +4% -"**"#:&6 60 ",6%474%6( _01%
86:-"%8 $+9% 8$0T, 6$+6 6$% :8% 0* 740B&%1H80&9",; 6+#6"#8 "8 #"$%&'%.) 4%H
&+6%- 60 740*"68 +10,; _09"%68 D)4+$+1 %6 +&(? EhhlF? !%@"#+,8 DY-&%4 %6 +&(?
Ehj]R )4+$+1 %6 +&(? Ehh^F +,- W4%,#$H87%+\",; 5+,+-"+,8 DY-&%4 %6 +&(?
Ehj]F( a"\%T"8%? Y&&%4$%"&";%, %6 +&( DEhjmF *0:,- 6$+6 i4+q"&"+, +,- 5$",%8%
8:BM%#68 +#$"%9%- $";$%4 740*"68 T$%, 6$%3 4+6%- 6$%18%&9%8 +8 &%88 $0,%86(
A, 6$% 06$%4 $+,-? )4+$+1 %6 +&( DEhh^F *0:,- 6$%4% T+8 "* &%.-(#*"'5#3
B%6T%%, 740B&%1 80&9",; +,- 740*"68 *04 )%41+,8? i4"6"8$? W4%,#$ +,Y,;&0 5+,+-"+,8? 3%6 6$%4% T+8 + 3*'#(#$% 4%&+6"0,8$"7 +10,; 740B&%1
80&9",; +,- 0:6#01%8 +10,; K+"T+,%8% +,- o04%+,8( S, 8:1? 6$%8% 86:-"%8
8:;;%86 6$+6 6+#6"#8 -0 ,06 8%%1 +&T+38 60 +**%#6 0:6#01%8 ", 6$% 8+1% T+3
+#4088 #:&6:4%8? 3%6 6$% 7+46"#:&+4 1%#$+,"818 :,-%4&3",; 8:#$ -"**%4%,#%8
+4% ,06 -%&",%+6%-(

9:;<= N? (@=A@B< CD; AK< +B:OIJC= (:DA<OA ID "<H:AICAI:D


A:4 4%9"%T +&80 *0:,- 6$+6 6$%4% T%4% + 9+4"%63 0* 86:-"%8 6$+6 %@+1",%$0T #:&6:4% ",6%4+#68 T"6$ 740@"1+& ,%;06"+6"0, #0,-"6"0,8 60 74%-"#6
,%;06"+6"0, 0:6#01%8 DW";( JF( !086 0* 6$% 4%8%+4#$ -0,% ", 6$"8 &",% 0*
",>:"43 $+8 *0#:8%- 0, T$%6$%4 ,%;06"+6048G &*.%' D"(%( B:3%4 04 8%&&%4F
-"**%4%,6"+&&3 +**%#6 0:6#01%8 +#4088 #:&6:4%8( K$%8% >:%86"0,8 +4% "1704H
6+,6? +8 6$%3 *0#:8 0, 6$% ",6%4+#6"0, 0* #:&6:4% T"6$ #0,6%@6:+& *+#6048? +,6$:8 "&&:864+6% 6$% 9*/%&-(#"6 %**%#68 0* #:&6:4% 0, ,%;06"+6"0, D", +--"6"0, 60
6$% 1+", %**%#68F( V0T%9%4? +8 1%,6"0,%- ", 6$% 74%9"0:8 -"8#:88"0,? 1086
86:-"%8 4%&3 :70, ;%0;4+7$"# &0#+6"0,? 4+6$%4 6$+, 0, -"1%,8"0,8 0* #:&6:4+&
9+4"+6"0,? +,- 6$%4% "8 + -%+46$ 0* #&%+4 6$%04%6"#+& %@7&+,+6"0,8 ", 6$"8 +4%+
0* ",>:"43? 1+\",; ;%,%4+&"8+6"0,8 -"**"#:&6(
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

71

KY5KS5_

5A[/Kcb
D"(%( ;%0;4+7$"# &0#+6"0,F
#
$

"

/L)AKSYKSA/
A[K5A!L_

ZcAkS!Ya _A5SYa
5A/KLkK
! /%;06"+604 40&%8
! 50,86"6:%,#"%8
! S,6%4 9%48:8 ",64+#:&6:4+&

3!/'$, N? #K< IDA<BCFAI:D P<AQ<<D F@=A@B< CD; RB:OIJC= GIA@CAI:DC= F:D;IAI:DG :D D<H:S
AICAI:D :@AF:J<G?

=:.(:&% -"/ G%6*(#-(*&'I J*.%'( c%8%+4#$ 8:;;%868 6$+6 ", 801% #:&6:4%8
6$% 40&% 0* 6$% ,%;06"+604 D%(;( B:3%4 04 8%&&%4F "8 + 104% "17046+,6 -%6%4H
1",+,6 0* 0:6#01%8 6$+, ", 06$%4 #:&6:4%8( W04 %@+17&%? :8",; 4%;4%88"0,
+,+&38"8? )4+$+1 DEhjlF %@+1",%- 6$% 9+4"+B&%8 6$+6 %@7&+",%- 6$% 1086
9+4"+,#% ", 0:6#01%8 ", i4+q"&? '+7+,? +,- 6$% [_Y( V% *0:,- 6$+6 6$% 40&%
0* 6$% ,%;06"+604 T+8 6$% 1086 "17046+,6 74%-"#604 0* 0:6#01%8 ", '+7+,?
-%#%76"9% 6+#6"#8 T%4% 6$% "17046+,6 74%-"#6048 ", i4+q"&? +,- 4%74%8%,H
6+6"0,+& D"(%( #007%4+6"9%F 6+#6"#8 T%4% 6$% 1086 "17046+,6 74%-"#6048 0*
0:6#01%8 ", 6$% [_Y( A6$%4 86:-"%8 $+9% -%10,864+6%- 6$+6 ,%;06"+6048
0##:73",; #%46+", 40&%8 D%(;( B:3%48F 0B6+", $";$%4 0:6#01%8 ", ,%;06"+6"0,8
", 801% #:&6:4%8? B:6 ,06 ", 06$%48( _7%#"*"#+&&3? 86:-"%8 $+9% -%10,864+6%6$+6 6$%4% +4% ,0 -"**%4%,#%8 ", B:3%4g8%&&%4 0:6#01%8 +10,; Y1%4"#+,8
DY-&%4 %6 +&(? Ehj]R Y-&%4 %6 +&(? EhhJR 5+17B%&& %6 +&(? EhjjR )4+$+1 %6 +&(?
EhjjF? 5$",%8% DY-&%4 %6 +&(? EhhJR )4+$+1 %6 +&(? EhjjF? W4%,#$H87%+\",;
5+,+-"+,8 DY-&%4 %6 +&(? Ehj]F? +,- )%41+,8 D5+17B%&& %6 +&(? EhjjF( Y&6%4H
,+6"9%&3? B:3%48 0:67%4*041%- 8%&&%48 +10,; '+7+,%8% D)4+$+1 %6 +&(?
EhjjF? o04%+,8 D)4+$+1 %6 +&(? EhjjF? Y,;&0H5+,+-"+,8 DY-&%4 %6 +&(? Ehj]F?
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

72

/,)3*"& *"& &4,$

i4"6"8$ D5+17B%&& %6 +&(? EhjjF? W4%,#$ D5+17B%&& %6 +&(? EhjjF? +,- !%@"#+,8
DY-&%4 %6 +&(? Ehj]F( S, 1086 0* 6$%8% 86:-"%8? 6$% 1%#$+,"818 :,-%4&3",;
6$% -"**%4%,6"+& %**%#68 0* ,%;06"+6048G 40&% T%4% ,06 +88%88%-( c%#%,6&3? ", +
7086 $0# +,+&38"8? )4+$+1 %6 +&( DEhh^F %@7&04%- 6$% 7088"B"&"63 6$+6 #:&6:4%8
$";$ 0, 70T%4 -"86+,#% DV0*86%-%? EhjUF T0:&- 7&+#% 104% %17$+8"8 0,
40&%H4%&+6"0,8? +,- #0,8%>:%,6&3? 40&%8 T0:&- $+9% + ;4%+6%4 ",*&:%,#% 0,
0:6#01%8 ", 6$%8% #:&6:4%8( S, 8:77046 0* 6$"8? :8",; V0*86%-%G8 DEhjUF
4+,\",;8? )4+$+1 %6 +&( DEhh^F *0:,- + 8";,"*"#+,6 #044%&+6"0, B%6T%%, 6$%
70T%4 -"86+,#% 8#04%8 0* + ,+6"0, +,- 6$% 4%&+6"0,8$"7 B%6T%%, 40&% +,0:6#01%8( K$"8 86:-3 "8 ,06+B&% ", "68 +66%176 60 ",6%;4+6% + -"1%,8"0, 0*
#:&6:4%? T"6$ +87%#68 0* 6$% 740@"1+& ,%;06"+6"0, #0,6%@6(
=:.(:&% -"/ G%6*(#-(*&'I J%.-(#*"'5#3'K _:474"8",;&3? 6$%4% $+9% B%%,
*%T #4088H#:&6:4+& 86:-"%8 0, 06$%4 +87%#68 0* 6$% ,%;06"+6"0, #0,6%@6 ", 6$%
&+86 JU 3%+48 D%(;( *041+&"63 0* 80#"+& 8%66",;? 6"1% 74%88:4%? T"6$",H6%+1
-3,+1"#8F( K$%4% +4% + *%T 86:-"%8? $0T%9%4? 6$+6 $+9% &00\%- +6 +87%#68 0*
,%;06"+6048G 4%&+6"0,8$"78 +,- 6$%"4 "17+#6 0, ,%;06"+6"0,8 ", -"**%4%,6
#:&6:4%8( Y, %+4&3 86:-3 B3 24:#\1+, %6 +&( DEh]fF %@+1",%- T$%6$%4
#0,86"6:%,68 $+9% + -"**%4%,6"+& "17+#6 0, ,%;06"+6048 +#4088 #:&6:4%8(
24:#\1+, %6 +&( DEh]fF *0:,- 6$+6 ;40:7 4%74%8%,6+6"0, $+- -"**%4%,6"+&
%**%#68 0, ,%;06"+6048 ", S,-"+? Y4;%,6",+? +,- 6$% [,"6%- _6+6%8( W04
%@+17&%? Y1%4"#+,8 T$0 ,%;06"+6%- T"6$ +, +:-"%,#% 74%8%,6 1+-% 104%
0**%48 6$+, T"6$ ,0 +:-"%,#% T$%4%+8 Y4;%,6","+,8 T"6$ +, +:-"%,#% 74%8%,6
1+-% *%T%4 0**%48 6$+, T"6$ ,0 +:-"%,#% 74%8%,6( K$%04%6"#+&&3 87%+\",;?
6$%8% %**%#68 +4% $+4- 60 ",6%474%6? +,- +8 T% T"&& +4;:% &+6%4? 6$"8 "8 + 4"7%
+4%+ *04 4%8%+4#$(
e"6$ 4%;+4- 60 06$%4 +87%#68 0* ,%;06"+6048G 4%&+6"0,8$"78? 6$%4% +4% 801%
86:-"%8 6$+6 $+9% #017+4%- 0:6#01%8 ", ",64+#:&6:4+& 9%48:8 ",6%4#:&6:4+&
,%;06"+6"0,8? +,- %@+1",%- T$%6$%4 8:#$ %**%#68 9+43 +#4088 #:&6:4%8( W04
%@+17&%? Y-&%4 +,- )4+$+1 DEhjhF #017+4%- 0:6#01%8 ", ",64+#:&6:4+& +,",6%4#:&6:4+& ,%;06"+6"0,8? 3%6 "6 "8 -"**"#:&6 60 -"8#%4, -%*","6"9% 7+66%4,8 ",
6$%"4 4%8:&68( Y1%4"#+,8 T%4% 104% 8+6"8*"%- T"6$ 6$%"4 740*"68 ", ",6%4#:&6:4+&
+8 #017+4%- 60 ",64+#:&6:4+& ,%;06"+6"0,8? +,- '+7+,%8% +,- Y,;&07$0,%
5+,+-"+,8 +#$"%9%- &0T%4 M0",6 740*"6 ", ",6%4#:&6:4+& ,%;06"+6"0,8 +8
#017+4%- 60 ",64+#:&6:4+& ,%;06"+6"0,8( S, +,06$%4 86:-3? )4+$+1 DEhjm+F
74%-"#6%- 6$+6 0:6#01%8 T0:&- B% &0T%4 ", ",6%4#:&6:4+& ,%;06"+6"0,8 D"(%(
'+7+,%8%gY1%4"#+,F +8 #017+4%- 60 ",64+#:&6:4+& ,%;06"+6"0,8 D"(%( '+7+,%8%g
'+7+,%8%? 04 Y1%4"#+,gY1%4"#+,F? 3%6 ,0 -"**%4%,#%8 T%4% *0:,- ", 6$"8
86:-3( )4+$+1 -"- -%10,864+6%? $0T%9%4? 6$+6 ",64+#:&6:4+& -3+-8 :8%104% 740B&%1H80&9",; +,- #007%4+6"9% 6+#6"#8 6$+, ",6%4#:&6:4+& -3+-8(
!04% 4%#%,6&3? /+6&+,-8134 +,- c0;,%8 DEhhmF *0:,- 6$+6 ",6%4#:&6:4+&
;40:78 0* !%@"#+,8 +,- /04T%;"+,8 +#$"%9%- &0T%4 740*"6 6$+, ",64+#:&6:4+&
;40:78 0* /04T%;"+,8? 3%6 +;+", 6$%4% T+8 &"66&% %17"4"#+& +66%,6"0, ;"9%, 60
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

75

6$% 4%+80,8 *04 6$%8% -"**%4%,#%8( K$% +:6$048 87%#:&+6% 6$+6 &+,;:+;% -%*"H
#"%,#"%8 1+3 +##0:,6 *04 6$%8% 4%8:&68( S, 8:1? T$"&% "6 +77%+48 6$+6 ,%;0H
6"+6"0, 0:6#01%8 D+,- 6+#6"#8F #+, -"**%4 ", ",6%4#:&6:4+& +,- ",64+#:&6:4+&
,%;06"+6"0,8? +,- 6$+6 8:#$ %**%#68 #+, 9+43 B3 #:&6:4%? 6$% *+#6048 6$+6
#0,64"B:6% 60 8:#$ -"**%4%,#%8 ", 6$%8% 86:-"%8 +4% ,06 %9"-%,6(
S, + 4%#%,6 86:-3? 5$+, DEhhJF 7409"-%- + 6$%04%6"#+& +##0:,6 0* D5)
,%;06"+6"0,8 T"6$ 7%07&% *401 0,%G8 0T, ;40:7 D"(%( ",H;40:78F 1+3 -"**%4
*401 ,%;06"+6"0,8 T"6$ 7%07&% *401 06$%4 ;40:78 D"(%( 0:6H;40:78F? +,- $0T
6$"8 9+4"%8 +#4088 #:&6:4%8( i+8%- 0, ",-"9"-:+&"81g#0&&%#6"9"81 6$%043?
5$+, DEhhJF 740708%- 6$+6 5$",%8% ,%;06"+6048 T0:&- 1+\% ;4%+6%4
-"86",#6"0,8 B%6T%%, ",H;40:78 +,- 0:6H;40:78 ", ,%;06"+6"0,8? T$%4%+8
Y1%4"#+, ,%;06"+6048 T0:&- ,06 1+\% 8:#$ -"86",#6"0,8( 50,8"86%,6 T"6$
6$"8 $3706$%8"8? $% *0:,- 6$+6 5$",%8% ,%;06"+6048? T$0 T%4% 8$0T, 60 B%
104% #0&&%#6"9"86"#? 1+-% *%T%4 #0,#%88"0,8 T$%, ,%;06"+6",; T"6$ 0:6H
;40:78 6$+, T"6$ ",H;40:78( A, 6$% 06$%4 $+,-? B%$+9"0:4 0* Y1%4"#+,8?
T$0 T%4% 104% ",-"9"-:+&"86"#? -"- ,06 9+43 +8 + *:,#6"0, 0* ",H;40:7g
0:6H;40:7 -"86",#6"0,8( V"8 86:-3 -%7+468 *401 06$%48 T"6$", !0-%& J B3
%@+1",",; 6$% 10-%4+6",; "17+#6 0* #:&6:4% 0, "%6*(#-(#*" A%5-$#*:&'(
5$+,G8 86:-3 "8 ,06+B&% ", 6$+6 $% 9%-':&%/ +87%#68 0* ",-"9"-:+&"81g
#0&&%#6"9"81? +,- -%10,864+6%- 6$+6 6$% '-9% ,%;06"+6"0, #0,-"6"0,
D",H;40:7g0:6H;40:7F 1+3 $+9% -"**%4%,6"+& %**%#68 +#4088 #:&6:4%8(

/<D<BC= -@JJCBT
Y8 %9"-%,#%- ", 6$"8 4%9"%T? %@"86",; #4088H#:&6:4+& ,%;06"+6"0, 4%8%+4#$ "8
>:"6% 9+4"%- ", 6%418 0* 6$% 607"#8 +,- #:&6:4%8 ",9%86";+6%-( _:#$ 4%8%+4#$
"&&:864+6%8 6$% "17046+,#% 0* #:&6:4%? +,- 6$:8 +-9+,#%8 6$% -%9%&071%,6
0* + #:&6:4+& 7%487%#6"9% 0, ,%;06"+6"0,( S,-%%-? 4%8%+4#$ 0, 6$"8 607"#
$+8 8:4%&3 +-9+,#%- *401 V+40&- /"#0&80,G8 Ehlh 87%#:&+6"0, 0, -"**%4%,6
nn87%#"%8GG 0* -"7&01+#3( V0T%9%4? #0,#%76:+& &"1"6+6"0,8 ", 6$"8 &",% 0*
",>:"43 $+9% "17%-%- 0:4 :,-%486+,-",; 0* #:&6:4+& %**%#68 D#*( t+461+,?
EhhlF( e"6$ 801% ,06+B&% %@#%76"0,8? 4%8%+4#$%48 0*6%, :6"&"8%- 7086H$0#
%@7&+,+6"0,8 60 ",6%474%6 :,%@7%#6%- 7+66%4,8 0* 4%8:&68? +,- ;%,%4+&&3 :8%;%0;4+7$"#+& &0#+6"0, +8 + 8:440;+6% *04 #:&6:4%( W04 %@+17&%? #:&6:4% $+8
B%%, -%*",%- +8 nn+ -"**%4%,#% ", ,+6"0,+& $%4"6+;% +,- 7%41+,%,6 4%8"-%,#%
0* 6$% 7+46"%8 ", ,%;06"+6"0,GG D)4+$+1? Ehjl? 7( EhjF( Y8 8:#$? 6$%4% "8 +
,%%- 60 8$"*6 6$% *0#:8 *401 :8",; nn&0#+6"0,GG 60 ",*%4 #:&6:4%? +,- 1%4%&3
-0#:1%,6",; -"**%4%,#%8? 60 1+\",; - 3&#*&# 74%-"#6"0,8 *401 740*"&%8 0*
8$+4%- #:&6:4+& 9+&:%8 D_#$T+46q? Ehh^F? +,- $%&#+)#"6 6$08% #:&6:4+&
+88:176"0,8 T"6$ %@"86",; 1%+8:4%8( !04%09%4? 1086 4%8%+4#$ ";,04%8 6$%
783#$0&0;3 0* ,%;06"+6"0, ", -"**%4%,6 #:&6:4%8? +,- 6$:8 T% \,0T &"66&%
+B0:6 6$% 4*6"#(#$% +,- 9*(#$-(#*"-. 1%#$+,"818 6$+6 1%-"+6% #:&6:4+&
%**%#68( K$"8 \,0T&%-;% B+8% T0:&- ,06 0,&3 $%&7 :8 60 :,-%486+,- +,! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

70

/,)3*"& *"& &4,$

74%-"#6 ,%;06"+6"0,8 +#4088 #:&6:4%8? B:6 T0:&- +&80 +"- 74+#6"6"0,%48 ",
-%9%&07",; 64+",",; 740;4+11%8 6$+6 $%&7 ,%;06"+6048 :,-%486+,- 6$%"4 0T,
+,- 06$%48G B%$+9"0:48 ", ",6%4#:&6:4+& ,%;06"+6"0,8( a+86&3? %@"86",; #4088H
#:&6:4+& 4%8%+4#$ 64%+68 6$% 8386%1 0* ,%;06"+6"0, 8"17&"86"#+&&3 ", 0,&3
%@+1",",; + &"1"6%- 4+,;% 0* 740@"1+& ,%;06"+6"0, #0,-"6"0,8( /%;06"+6"0,8
-0 ,06 0##:4 ", + 9+#::1r6$%3 +4% #$+4+#6%4"8%- B3 + $086 0* #0,6%@6:+& 04
8"6:+6"0,+& 9+4"+B&%8 DZ4:"66 p 5+4,%9+&%? EhhlF( S, 6$"8 4%87%#6? #:44%,6
4%8%+4#$ ,%;&%#68 ,06 0,&3 #:&6:4+& 9+4"+6"0, ", 6$% ()3%' 0* #0,-"6"0,8 6$+6
1+3 B% #$+4+#6%4"86"# 0* ,%;06"+6"0,8? B:6 +&80 #:&6:4+& 9+4"+6"0, ", 6$%
#93-4( 6$+6 #0,-"6"0,8 $+9% 0, ,%;06"+6048( i%&0T? T% B:"&- 0, 6$%8%
74%9"0:8 10-%&8 +,- -%8#4"B% + 6$"4- 10-%& 0* #:&6:4% +,- ,%;06"+6"0,
T$"#$ $+8 4%#%"9%- 801% 4%#%,6 %17"4"#+& 8:77046 D"(%( i4%66 p A\:1:4+?
EhhjR )%&*+,- p c%+&0? ", 74%88R _$+7"40 p c0;,%8? EhhfR K",8&%3? EhhjF(

9:;<= 1U #:QCB; C &TDCJIF CD; +GTFK:=:HIFC= 9:;<= :E


(@=A@B< CD; "<H:AICAI:D
W";( l "&&:864+6%8 6$% #017&%@"63 6$40:;$ T$"#$ #:&6:4% "8 %@7%#6%- 60
",*&:%,#% 6$% 8386%1 0* ,%;06"+6"0,( 5%,64+& 60 6$"8 10-%& "8 6$+6 #:&6:4% "8
07%4+6"0,+&"8%- 0, + 9+4"%63 0* 87%#"*"# 9+&:% -"1%,8"0,8( Y&80 7+4+10:,6
60 6$% 10-%& +4% ,%;06"+6048G 783#$0&0;"#+& 86+6%8? T$"#$ B40+-&3 %,#017+88
,%;06"+6048G "17&"#"6 6$%04"%8 +,- 1%6+7$048? M:-;1%,6 B"+8%8? 4%+80,",;
740#%88%8? 106"9%8? 8%&*H4%;:&+6"0,? +,- +**%#6( Y8 #+, B% 8%%,? +87%#68 0*
#:&6:4% +4% %@7%#6%- 60 $+9% /#&%4( %**%#68 0, ,%;06"+6048G 783#$0&0;"#+&
86+6%8( S, 6$"8 4%87%#6? 6$% *4+1%T04\ +-9+,#%- "8 #0,8"86%,6 T"6$ *"%&6$%043 Da%T",? EhlmF? T$"#$ 708"68 6$+6 +##0:,68 0* 80#"+& B%$+9"0:4 8$0:&B% B+8%- 0, 783#$0&0;"#+& %9%,68 T$"#$ %@"86 ", 6$% nn&"*% 87+#%GG +6 6$% 6"1%
B%$+9"0:4 "8 0##:44",; D!#5:8\%4 p )%&*+,-? Ehh]F( K$% *4+1%T04\ "8 +&80
#0,8"86%,6 T"6$ #:&6:4% 6$%043? T$"#$ +88%468 6$+6 #:&6:4% +**%#68 6$% 783#$%
04 $0T 7%07&% nn%,6%4 ",60 1%+,",;GG ", 80#"+& 8"6:+6"0,8 Di4:,%4? EhhUR
!+4\:8 %6 +&(? Ehh]F(
Y8 8%%, ", 6$% 10-%&? #:&6:4% "8 +&80 %@7%#6%- 60 9*/%&-(% #%46+", #01H
70,%,68 ", 6$% 8386%1 0* ,%;06"+6"0,( _7%#"*"#+&&3? #:&6:4% "8 %@7%#6%- 60
DEF 10-%4+6% 6$% ",*&:%,#% 0* 740@"1+& 8"6:+6"0,+& #0,-"6"0,8 0, ,%;0H
6"+6048G 783#$0&0;"#+& 86+6%8 D+,- ",-"4%#6&3 ",*&:%,#% B%$+9"0:48F? +,DJF 10-%4+6% 6$% ",*&:%,#% 0* ,%;06"+6048G 783#$0&0;"#+& 86+6%8 0, ,%;0H
6"+6048G B%$+9"0:48( W",+&&3? +&6$0:;$ #:&6:4% "8 ,06 8$0T, 60 $+9% -"4%#6
%**%#68 0, 0:6#01%8? T% T"&& $";$&";$6 801% ",-"4%#6 %**%#68 6$+6 #:&6:4% 1+3
$+9% 0, 0:6#01%8 ", ,%;06"+6"0,? 6$40:;$ 6$% -3,+1"# ",6%47&+3 B%6T%%,
#:&6:4%? 783#$0&0;"#+& 86+6%8? +,- ,%;06"+6"0, B%$+9"0:48(l
XXXXXXXXXXXXXXXX
l

K$"8 B:"&-8 :70, i+q%41+, +,- 5+440&&G8 DEhj]F *4+1%T04\ T$"#$ "&&:864+6%8 6$+6 ,%;0H
6"+6048G B%$+9"0:48 +**%#6 6$%"4 #0:,6%47+468G 783#$0&0;"#+& 86+6%8(
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

77

3!/'$, 1? #:QCB;G C J:B< ;TDCJIF CD; RGTFK:=:HIFC= EBCJ<Q:BV?

78

/,)3*"& *"& &4,$

K$"8 7%487%#6"9% $";$&";$68 6$% 1:&6"7&% T+38 ", T$"#$ #:&6:4% 1+3 %@%46
",*&:%,#% ", 6$% 8386%1 0* ,%;06"+6"0,( i3 ",#04704+6",; 6$%04%6"#+& +##0:,68
0* #:&6:4%? 783#$0&0;"#+& 740#%88%8? +,- + 4+,;% 0* 740@"1+& 8"6:+6"0,+&
#0,-"6"0,8? 6$"8 10-%& +&&0T8 *04 + 104% #017&%@ +##0:,6 0* #:&6:4+& %**%#68
", ,%;06"+6"0,( Y8 8:#$? "6 B%;",8 60 07%, 6$% nnB&+#\ B0@GG 6$+6 %@"868 B3
+66%176",; 60 10-%& $0T +,- T$3 #:&6:4% +**%#68 ,%;06"+6"0,( i%&0T T%
%&+B04+6% 0, 6$% 4%&+6"0,8$"78 -%7"#6%- ", W";( l( e$%, 7088"B&%? T% -%8#4"B%
4%#%,6 86:-"%8 T$"#$ 8:77046 +87%#68 0* 6$% 10-%& +,- T"&& +&80 0**%4 +
,:1B%4 0* 87%#"*"# 74087%#68 *04 *:6:4% 4%8%+4#$(

(')#'$*) !"3)',"(,- %" ",/%#!*#%$-W +-4(6%)%/!(*)


-#*#,- X*"& !"&!$,(# !"3)',"(,- %" Y,6*.!%'$-Z
Y##04-",; 60 W";( l? +87%#68 0* #:&6:4% 7&+3 +, "17046+,6 40&% ", -"4%#6",;
,%;06"+6048G 783#$0&0;"#+& 86+6%8? +,- 4%864"#6",; +66%,6"0, 60 7+46"#:&+4
+87%#68 0* 6$% 8%&* +,- 6$% %,9"40,1%,6( S, 6$"8 9"%T? #:&6:4% 7409"-%8 6$%
8$+4%- 1%+,",; 8386%18? +8 T%&& +8 6$% 74+#6"#%8 +,- 831B0&8? 6$40:;$
T$"#$ ",-"9"-:+&8 :,-%486+,- 6$%"4 %,9"40,1%,6 D!+4\:8 %6 +&(? Ehh]F( S,
6$% -01+", 0* ,%;06"+6"0,? T% %@7%#6 6$+6 #:&6:4+&&3 8$+4%- 1%+,",;8 T"&&
B% 4%*&%#6%- ", 6$% T+3 ,%;06"+6048 9-L% '%"'% 0* ,%;06"+6"0,8 D%(;( 6$%"4
"17&"#"6 6$%04"%8? M:-;1%,68? +,- T+38 0* 4%+80,",;F? +8 T%&& +8 6$% T+3
,%;06"+6048 +4% 9*(#$-(%/ (* -4(#*" D%(;( ;0+&8 +,- 8%&*H4%;:&+6"0,F? B06$ 0*
T$"#$ +4% %@7%#6%- 60 4%&+6% 60 6$% 637%8 0* B%$+9"0:48 04 8#4"768 T$"#$ +4%
%,+#6%- ", ,%;06"+6"0,8( i%&0T? T% -"8#:88 4%#%,6 4%8%+4#$ 6$+6 7409"-%8
801% 8:77046 *04 6$%8% ,06"0,8? +,- +&80 -"8#:88 :,%@7&04%- >:%86"0,8
4%;+4-",; #:&6:4+& ",*&:%,#%8 0, ,%;06"+6048G #0;,"6"0, +,- 106"9+6"0,(^

(@=A@B< CD; "<H:AICA:B (:HDIAI:D


=:.(:&% -"/ ?93.#4#( C5%*&#%'( 5:&6:4% "8 %@7%#6%- 60 +**%#6 ,%;06"+6048G
nn"17&"#"6 6$%04"%8GG 04 8#$%1+8 Di4%66 p A\:1:4+? EhhjR )%&*+,-? /"8$""?
23%4? V0&#01B%? A$B:#$"? p W:\:,0? EhhjR K",8&%3? EhhjF +,- 1%6+7$048
",90\%- D)%&*+,- p !#5:8\%4? *046$#01",;F +B0:6 6$% ;%,%4+&"8%,%;06"+6"0, #0,6%@6( Y&& ,%;06"+6"0,8 B%;", T"6$ 6$% "17&"#"6 4%#0;,"6"0,
B3 7+46"%8 6$+6 6$%4% "8 801%6$",; 60 ,%;06"+6%( V0T%9%4? 6$% 1%+,",; 0*
6$% ,%;06"+6"0, #0,6%@6 "8 ,06 nn0BM%#6"9%&3GG -%*",%-R 4+6$%4? ,%;06"+6048
#0;,"6"9%&3 #0,864:#6 6$% 4%+&"63 0* 6$% 80#"+& #0,6%@6 ", T$"#$ 6$%3 +4%
,%;06"+6",; Di+q%41+, p 5+440&&? Ehj]F( S, 6$% #:44%,6 9"%T? 8:#$
",6%474%6+6"0,8 +4% ;40:,-%- ", 6$% 1%+,",; 8386%18 +,- 74+#6"#%8 T$"#$
XXXXXXXXXXXXXXXX
^

W04 87+#% &"1"6+6"0,8? T% T"&& ,06 -"8#:88 ,%;06"+604 +**%#6 D8%% )%04;%? '0,%8? p )0,q+&%q?
Ehhj? *04 + 4%#%,6 -"8#:88"0,F(
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

7L

7%49+-% 6$% &+4;%4 #:&6:4+& #0,6%@6? +,- 6$:8? T$+6 ,%;06"+6048 7+3 +66%,6"0,
60 T"&& 9+43 +#4088 #:&6:4%8(
50,8"86%,6 T"6$ W";( l? )%&*+,-? /"8$""? %6 +&( DEhhjF "&&:864+6%- 6$+6
'+7+,%8% +,- Y1%4"#+, 86:-%,68 $+9% -"**%4%,6 #0;,"6"9% ",6%474%6+6"0,8
0* "-%,6"#+& #0,*&"#6 %7"80-%8( W04 ",86+,#%? Y1%4"#+, 86:-%,68 7%4#%"9%#0,*&"#68 60 B% #0,#%4,%- T"6$ ",-"9"-:+& 4";$68 +,- +:60,013? T$%4%+8
'+7+,%8% 86:-%,68 7%4#%"9%- #0,*&"#68 60 B% #0,#%4,%- T"6$ 9"0&+6"0,8 0*
-:6"%8 +,- 0B&";+6"0,8( Y1%4"#+, 86:-%,68 +&80 7%4#%"9%- #0,*&"#68 60 B%
104% +B0:6 #017%6"6"0,? T$%4%+8 '+7+,%8% 86:-%,68 7%4#%"9%- #0,*&"#68 60
B% 104% +B0:6 #007%4+6"0,( !04%09%4? ", + 4%#%,6 86:-3 0* Y1%4"#+, +,'+7+,%8% ,%;06"+6048? i4%66 +,- A\:1:4+ DEhhjF -%10,864+6%- 6$+6 #:&6:4+&
-"**%4%,#%8 ", #0;,"6"0, $+9% "17046+,6 #0,8%>:%,#%8 *04 ,%;06"+6"0,
0:6#01%8( _7%#"*"#+&&3? 6$%3 1%+8:4%- +87%#68 0* #:&6:4% D",-"9"-:+&"81g
#0&&%#6"9"81 +,- $"%4+4#$3g%;+&"6+4"+,"81F +,- "&&:864+6%- 6$+6 6$%3 +**%#6%,%;06"+6048G 8#$%1+8 +,- 8#4"768 D"(%( 4%&+6%- 60 8%&*H",6%4%86? 70T%4? +,",*041+6"0, 8$+4",;F( K$%"4 4%8:&68 8640,;&3 8:;;%86 6$+6 ",#017+6"B&%
8#$%1+8 +,- 8#4"768 1+-% "6 104% -"**"#:&6 60 +#$"%9% ",6%;4+6"9% 0:6#01%8
", ",6%4#:&6:4+&? +8 #017+4%- 60 ",64+#:&6:4+& ,%;06"+6"0,8 D8%% +&80 Y-+"4?
EhhhF( S, 4%&+6%- 4%8%+4#$? )%&*+,- +,- !#5:8\%4 D*046$#01",;F $+9% +&80
4%#%,6&3 +4;:%- 6$+6 #:&6:4% "8 4%&+6%- 60 nn9%(-35*&' #" :'%GG ", ,%;06"+6"0,8?
+,- 740708%- 6$+6 ,%;06"+6"0,8 ", 6$% [_Y +4% 0*6%, #0,#%"9%- 6$40:;$
870468 1%6+7$048? T$%4%+8 ,%;06"+6"0,8 ", '+7+, +4% 0*6%, #0,#%"9%- ",
6%418 0* *+1"&3 $0:8%$0&- 1%6+7$048( K$%3 "&&:864+6% $0T 6$%8% 6T0
1%6+7$048 1+3 -"4%#6 ,%;06"+6048G +66%,6"0, 60 7+46"#:&+4 ;0+&8? 8#4"768? +,#4"6%4"+ ", ,%;06"+6"0,8(
K$% *04%;0",; 86:-"%8 "&&:864+6% 6$+6 #0,*&"#68 +,- ,%;06"+6"0,8 +4% &"\%&3
60 B% 7%4#%"9%- >:"6% -"**%4%,6&3 ", 6T0 #:&6:4%8? 6$% [_Y +,- '+7+,( W:6:4%
4%8%+4#$ "8 ,%%-%- 60 %@+1",% 6$% ,+6:4% 0* ,%;06"+6"0, 8#$%1+8 +,1%6+7$048 ", 06$%4 #:&6:4%8? T$"#$ 9+43 0, +--"6"0,+& -"1%,8"0,8 0*
#:&6:4%( A,% ,06+B&% 86:-3 T$"#$ *:46$%48 6$"8 %,-%+90:4 "8 6$+6 0* K",8&%3
DEhhjF? T$0 &",\%- -"1%,8"0,8 0* #:&6:4% T"6$ ,%;06"+6048G B%&"%*8 +B0:6
,041+6"9% #0,*&"#6 10-%&8( S, 7+46"#:&+4? #:&6:4+& -"**%4%,#%8 0, $"%4+4#$"#+&
-"**%4%,6"+6"0, D+##%76+,#% 0* 80#"+& ",%>:+&"63? 8:#$ +8 ", '+7+,F? %@7&"#"6
#0,64+#6",; D:8",; *041+& +;4%%1%,68? 8:#$ +8 ", )%41+,3F? +,- 70&3H
#$40,"#"63 D740#%88",; 1+,3 6+8\8 8"1:&6+,%0:8&3? 8:#$ +8 ", 6$% [_YF T%4%
4%&+6%- 60 74%*%4%,#%8 *04 :8",; +:6$04"6"%8? 4%&3",; 0, %@6%4,+& 4%;:&+6"0,8?
+,- ",6%;4+6",; ",6%4%868 ", #0,*&"#68? 4%87%#6"9%&3(
c%8%+4#$ "8 +&80 ,%%-%- 0, $0T #:&6:4% +**%#68 06$%4 "17&"#"6 6$%04"%8 ",
,%;06"+6"0,? 8:#$ +8 ,%;06"+6048G 6$%04"%8 0* 6$%"4 #0:,6%47+468( K0 -+6%?
6$%4% "8 &"66&% \,0T, +B0:6 6$% *+#6048 6$+6 #0,64"B:6% 60 7%4#%76"0,8 0* 64:86?
#4%-"B"&"63? +,- #017%6%,#% 0* ,%;06"+6048? +,- $0T 6$"8 9+4"%8 +#4088
#:&6:4%8( S, +, %+4&3 86:-3 0, 7%480, 7%4#%76"0, +,- ",6%,6"0,8 60 64:86?
i0,- +,- W04;+8 DEhj^F "&&:864+6%- 6$+6 V0,; o0,; 5$",%8% 7&+#%- +
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

8M

/,)3*"& *"& &4,$

;4%+6%4 T%";$6 0, 7%4#%"9%- #0,8#"%,6"0:8,%88 ", *041",; 64:86 M:-;1%,68?


+8 #017+4%- 60 Y1%4"#+,8( W:6:4% 4%8%+4#$ #+, %@+1",% 6$%8% ,06"0,8 ", +
,%;06"+6"0, #0,6%@6? +8 T%&& +8 %@+1",% $0T 06$%4 9+&:% -"1%,8"0,8 +**%#6
%@7%#6+6"0,8 6$+6 ,%;06"+6048 $+9% 0* 6$%"4 0770,%,68( _:#$ 4%8%+4#$ 1+3 B%
9%43 :8%*:& 60 ,%;06"+6048 ", ",6%4#:&6:4+& ,%;06"+6"0,8? T$0 1+3 ,%%- 60
+-+76 6$%"4 863&%8 60 -%9%&07 64:86 D8%% W4+,#"8? EhhE? *04 +, ",6%4%86",;
-"8#:88"0, 0* +-+76+6"0, ", #4088H#:&6:4+& ,%;06"+6"0,8F(
Y--"6"0,+&&3? T$%4%+8 6$"8 -"8#:88"0, $+8 *0#:8%- 0, #:&6:4% +,- 6$%
#0,6%,6 0* 8#$%1+8? "6 "8 +&80 &"\%&3 6$+6 6$%4% T"&& B% #4088H#:&6:4+&
-"**%4%,#%8 0, 6$% -%;4%% 0* #"(%&':AM%4(#$#() ", ,%;06"+6048G "17&"#"6 6$%04"%8
+,- 1%6+7$048 D"(%( -%;4%% 0* 80#"+&&3 8$+4%- #0;,"6"0,R c%8,"#\? a%9",%? p
K%+8&%3? EhhEF? T$"#$ #0:&- $+9% #0,8%>:%,#%8 *04 #004-",+6"0, +,0:6#01%8 +#$"%9%-( W04 %@+17&%? 6$%4% 1+3 B% 104% -"9%4;%,#% ", #0;,"6"9%
4%74%8%,6+6"0,8 0* ,%;06"+6"0,8 ", &008% #:&6:4%8? +8 #017+4%- 60 6";$6
#:&6:4%8? ", T$"#$ 6$%4% 1+3 B% 104% #0,9%4;%,#% ", #0;,"6"9% 4%74%8%,6+H
6"0,8( _:#$ ;4%+6%4 %>:"90#+&"63 ", ,%;06"+6"0,8 ", &008% #:&6:4%8 1+3 4%8:&6
", &0,;%4 ,%;06"+6"0,8 +,- &%88 #004-",+6%- +#6"0,? 3%6 0,%8 ", T$"#$ 6$%4%
+4% 104% #4%+6"9% 80&:6"0,8? ;"9%, 6$+6 8:#$ ,%;06"+6048 1+3 $+9% + ;4%+6%4
,:1B%4 0* 7%487%#6"9%8 6$+, ", 6";$6 #:&6:4%8(
=:.(:&% -"/ N:/69%"( O#-'%'( Y8 "&&:864+6%- ", W";( l? #:&6:4% "8 %@7%#6%60 ",*&:%,#% 6$% ,+6:4% +,- %@6%,6 0* ,%;06"+6048G M:-;1%,6 B"+8%8( K0 -+6%?
1:#$ 4%8%+4#$ $+8 "&&:864+6%- 6$+6 ,%;06"+6048 4%&3 0, #0;,"6"9% $%:4"86"#8
04 nn4:&%8 0* 6$:1BGG T$"#$? +&6$0:;$ :8%*:& ", 8"17&"*3",; 6$% %,9"40,1%,6?
#+, B"+8 ,%;06"+604 7%4*041+,#% D/%+&% p /046$#4+*6? EhhEF( W04 ",86+,#%?
,%;06"+6048 $+9% B%%, *0:,- 60 B% #0,8"86%,6&3 09%4#0,*"-%,6 +,- 8%&*H
8%49",; DK$01780, p a0%T%,86%",? EhhJF? 60 9"%T ,%;06"+6"0,8 ", *"@%-H7"%
7%487%#6"9%8 DK$01780, p V+86"%? EhhUF? +,- 6%,- 60 -%9+&:% 6$% #0,H
#%88"0,8 0* 06$%48 D_6"&&%,;%4? L7%&B+:1? o%&6,%4? p c088? EhhEF? +&& 0* T$"#$
%,;%,-%4 #017%6"6"9% 6+#6"#8 +,-? 0*6%,? ,0,076"1+& 7%4*041+,#% D/%+&% p
/046$#4+*6? EhhEF(
W401 + #:&6:4+& 7%487%#6"9%? T$"&% +&& $:1+,8 +4% %@7%#6%- 60 4%&3 0,
$%:4"86"#8 ", 04-%4 60 8"17&"*3 4%+&"63? B"+8%8 ", ,%;06"+604 #0;,"6"0, +4%
&"\%&3 -"4%#6%- +,- 8:86+",%- B3 -01",+,6 #:&6:4+& "-%+&8 +,- 9+&:%8? +,6$:8? 6$% 637%8 0* B"+8%8 6$+6 +4% 74%9+&%,6 ", ,%;06"+6"0, 1+3 9+43 +#4088
#:&6:4+& #0,6%@68( Y, "17046+,6 +4%+ *04 *:6:4% 4%8%+4#$? 6$%,? T0:&- B% 60
%@+1",% T$%6$%4 B"+8%8 #0,8"86%,6&3 *0:,- ", 6$% [_Y +4% +&80 *0:,- ",
06$%4 #:&6:4+& #0,6%@68( S, + 4%#%,6 86:-3? )%&*+,- +,- 5$4"86+\070:&0:
DEhhhF *0:,- 6$+6 +#<%/;3#% A#-'%'? 04 6$% -%;4%% 60 T$"#$ ,%;06"+6048 *+"&
60 :,-%486+,- 6$% ",6%4%868 0* 6$%"4 #0:,6%47+468? T%4% 104% 74%9+&%,6 ",
,%;06"+6"0,8 ", ",-"9"-:+&"86"# #:&6:4%8 D6$% [_YF 9%48:8 #0&&%#6"9"86 #:&6:4%8
D)4%%#%F( W:6:4% 4%8%+4#$ "8 ,%%-%- 60 %@+1",% T$%6$%4 M:-;1%,6 B"+8%8
8:#$ +8 4%+#6"9% -%9+&:+6"0, D6$% 6%,-%,#3 *04 6$% ,%;06"+604 60 -%9+&:% +,
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

8>

0770,%,6G8 #0,#%88"0,8? "(%( T$+6 "8 ;00- *04 6$% 06$%4 1:86 B% B+- *04 1%F?
+,- ,%;06"+6048G 09%4#0,*"-%,#%? +4% %@+#%4B+6%- +,- 8:86+",%- ", #:&6:4+&
8386%18 T$%4% #017%6"6"0, +,- 8%&*H%,$+,#%1%,6 +4% ,+6:4+& +,- %@7%#6%D"(%( #:&6:4%8 $";$ 0, 1+86%43 +,- ",-"9"-:+&"81F( Y, "17046+,6 "17&"#+6"0,
0* 6$"8 +,+&38"8 "8 6$+6 6$%4% 1+3 B% :"%<-9#"%/ M:-;1%,6 B"+8%8 T$"#$ +4%
104% #$+4+#6%4"86"# 0* ,%;06"+6048 ", 06$%4 #:&6:4%8( !04% ;%,%4+&&3? #4088H
#:&6:4+& 4%8%+4#$ 0, ,%;06"+6048G M:-;1%,68 1+3 +88"86 ", B:"&-",; 104%
#0174%$%,8"9% ,%;06"+6"0, 6$%04"%8 B3 "&&:1",+6",; + T"-%4 4+,;% 0* M:-;H
1%,6 7$%,01%,+(
=:.(:&% -"/ J%-'*"#"6 E&*4%''%'( Y,06$%4 "17046+,6 +4%+ *04 *:6:4%
4%8%+4#$ "8 $0T #:&6:4% +**%#68 6$% T+3 ", T$"#$ ",-"9"-:+&8 740#%88
",*041+6"0, +,- 4%+80, ", ,%;06"+6"0,8 DW";( lF( S, 74%9"0:8 4%8%+4#$?
8#$0&+48 $+9% 740708%- 6$+6 6$%4% +4% +6 &%+86 6T0 -"86",#6 10-%8 0*
740#%88",; ",*041+6"0,? ,+1%&3 +, -"-.)(#4-.;&-(#*"-. 10-% +,- +, #"(:#(#$%;
%<3%&#%"(#-. 10-% DL786%",? Z+#","? 2%,%8Hc+M? p V%"%4? EhhfF( V0T%9%4?
6$%4% "8 &"66&% 4%8%+4#$ 0, #:&6:4+& -"**%4%,#%8 ", 6$% :8% 0* 6$%8% 10-%8 ",
,%;06"+6"0,( i+8%- 0, #:&6:4% 6$%043? T% 1+3 708"6 6$+6 ,%;06"+6048 ",
#:&6:4%8 $";$ 0, +:60,013 1+3 4%&3 104% 0, +,+&36"#+&H4+6"0,+& 6$",\",;
863&%8 +,- +880#"+6%- 6+#6"#8 D%(;( -%9%&071%,6 0* 708"6"0,8? &"1"68? +,- :8%
0* &0;"#+& +4;:1%,6+6"0, +,- 74%8%,6+6"0, 0* *+#68F( S,-%%-? ", 6$%"4 T%&&H
\,0T, B00\? W"8$%4 +,- [43 DEhjEF +-9"8% 6$+6 8:##%88*:& ,%;06"+6048 +4%
6$08% T$0 +-076 + 74",#"7&%- +7740+#$? ", T$"#$ 6$%3 :8% &0;"# +,-%-:#6"9% 6$",\",;? +,- nn8%7+4+6% 6$% 7%480, *401 6$% 740B&%1GG( V0T%9%4?
6$"8 %86%%1 *04 &0;"#+& 6$0:;$6? T$"#$ $+8 "68 40068 ", ",-"9"-:+&"81 +,- 6$%
L,&";$6%,1%,6 D!+4\:8 %6 +&(? Ehh]F 1+3 ,06 B% +8 9+&:%- ", ,%;06"+6"0,8
", 06$%4 #:&6:4%8( /%;06"+6048 ", #:&6:4%8 $";$ 0, #0&&%#6"9"81 1+3 4%&3
104% 0, ",6:"6"9%H%@7%4"%,6"+& 6$",\",; 863&%8 +,- 6+#6"#8 D%(;( +77%+&8 60
%106"0,8? 74%8%,6+6"0, 0* #0,#4%6% 7%480,+& 8604"%8? +,- 1%6+7$048F(
Y,%#-06+& %9"-%,#% *04 6$"8 #+, B% *0:,- ", !+4#$ DEhjjF? T$0 ,06%- 6$+6
", '+7+,%8% #:&6:4%? ,%;06"+6048 0*6%, +77%+& 60 6$% *%%&",;8 +,- ;00-T"&&
0* 06$%48 D%(;( 6$% :8% 0* -9-%? "#"6%"'%# +,- "-"#D-A:'5#R 8%% !+4#$? Ehjj?
*04 -%8#4"76"0,8F? T$"&% 6$% :8% 0* &0;"# "8 ;%,%4+&&3 %8#$%T%- D)0&-1+,?
Ehh^R 8%% +&80 )&%,, %6 +&(? Eh]]F( K$% "17046+,6 "17&"#+6"0, 0* 6$"8
+,+&38"8 "8 6$+6 863&%8 0* 6$",\",; +,- +880#"+6%- 7%48:+8"0, 6+#6"#8 1+3 B%
%**%#6"9% ", 0,% #:&6:4+& #0,6%@6? B:6 1+3 B% ",%**%#6:+& ", 06$%4 #:&6:4+&
#0,6%@68(

(@=A@B< CD; 9:AI[CAI:D


S, 6$% #:44%,6 9"%T? ,%;06"+6048G 106"9+6"0, "8 +&80 #0,-"6"0,%- B3 6$%
#:&6:4+& #0,6%@6 ", T$"#$ 6$%3 +4% %1B%--%-( !:#$ 4%8%+4#$ ,%%-8 60 B%
-0,% 60 "&&:864+6% 6$% "17+#6 6$+6 #:&6:4% $+8 0, 6$% 637%8 0* ;0+&8 B%",;
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

8N

/,)3*"& *"& &4,$

7:48:%- D!#5:8\%4 p )%&*+,-? Ehh]F? +8 T%&& +8 6$% "17+#6 6$+6 #:&6:4% $+8
0, 6$% T+3 ,%;06"+6048 4%;:&+6% 6$%"4 ;0+&8 -:4",; ,%;06"+6"0,8(
=:.(:&% -"/ G%6*(#-(#*" P*-.'( K$% 40&% 0* ;0+&8 $+8 $+- + &0,; 64+-"6"0,
", ,%;06"+6"0, 4%8%+4#$ DZ4:"66 p 5+4,%9+&%? EhhlF( 50,#%76:+&"8+6"0,8
",#&:-%? *04 ",86+,#%? 6$% &%9%& 0* #0,#%4, *04 8%&* +,- 06$%48 DZ4:"66 p
c:B",? EhjfF? &%9%&8 0* +87"4+6"0, DZ4:"66? EhjEF? +,- 7+46"#:&+4 0BM%#6"9%8
T$"#$ ,%;06"+6048 7:48:%( W401 + #:&6:4+& 7%487%#6"9%? 8:#$ ;0+&8 +,+880#"+6%- 864+6%;"%8 +4% +**%#6%- B3 74%9+"&",; 1%+,",;8 +,- 74+#6"#%8 ",
6$% &+4;%4 #:&6:4+& #0,6%@6? T$"#$ $";$&";$6 T$+6 "8 "17046+,6 60 6$% 8%&*
", ,%;06"+6"0, 8"6:+6"0,8( S, 8:77046 0* 6$"8? a36&% DEhh^F *0:,- 6$+6
-3+-8G #0&&%#6"9"86 9+&:%8 T%4% 4%&+6%- 60 4%&+6"0,8$"7 ;0+&8 +,- 74"04"6"%8
0, "88:%8 #0,#%4,",; ;40:7 T%&*+4% D+,- 60 B%$+9"0:4+& 6+#6"#8? 8:#$ +8
74"04"6"%8 -"8#:88"0,? 90"#",; 0* +;4%%1%,6? +,- 64+-",; "88:%8F( !04%09%4?
-3+-8G :,#%46+",63H+90"-+,#% 9+&:%8 T%4% ,%;+6"9%&3 4%&+6%- 60 7%48:+8"0,
;0+&8 +,- 74"04"6"%8 0, "88:%8 ",90&9",; 4"8\H8%%\",; +#6"0,8 D+,- 60 6+#6"#8
0* 740#%-:4+& 4%1+4\8 +,- 64+-",; 0* "88:%8F( S,-%%-? +8 -%7"#6%- ", W";( l?
8:#$ -"**%4%,#%8 ", ;0+&8 +,- 6+#6"#8 +**%#6%- 0:6#01%8? ", 6$+6 104%
#0&&%#6"9"86 #:&6:4+& 9+&:%8 T%4% 708"6"9%&3 4%&+6%- 60 -3+-8G ,%;06"+6%0:6#01%8 0, ;40:7 T%&*+4% "88:%8? +,- 6$"8 4%&+6"0,8$"7 T+8 1%-"+6%- B3 6$%
-3+-8G 74"04"6"%8 0, "88:%8 #0,#%4,",; ;40:7 T%&*+4%(
W:6:4% 4%8%+4#$ T0:&- B%,%*"6 *401 %@+1",",; +--"6"0,+& #:&6:4+& 9+&:%8
+,- 6$%"4 &",\ 60 ,%;06"+6048G ;0+&8( e"&80, +,- Z:6,+1 DEhhUF $+9%
-"8#:88%- + 9+4"%63 0* ,%;06"+6048G ;0+&8? ",#&:-",; ",864:1%,6+& ;0+&8
D4%109",; 0B86+#&%8 60 + 6+8\F? "-%,6"63I*+#% ;0+&8 D#4%+6",; +,- 8:86+",",;
708"6"9% "-%,6"6"%8 +,- 4%87%#6F? +,- #017%6"6"9%I#007%4+6"9% ;0+&8? T$"#$
+4% +88:1%- 60 +**%#6 6$% 637%8 0* 864+6%;"%8 %,+#6%- ", ,%;06"+6"0,8 De"&80,
p Z:6,+1? EhhUF( W04 %@+17&%? ,%;06"+6048 ", #:&6:4%8 $";$ 0, #0,8%49+6"81
1+3 B% 104% &"\%&3 60 7:48:% "-%,6"63I*+#% ;0+&8? +,- 6$%4%*04%? :8% 6+#6"#8
8:#$ +8 80#"+& %@#$+,;%8? >:%86"0,8? +,- 4%*&%#6"9% &"86%,",; ", ,%;06"+6"0,(
A, 6$% 06$%4 $+,-? ,%;06"+6048 ", #:&6:4%8 $";$ 0, +:60,013 1+3 B% 104%
&"\%&3 60 7:48:% ",864:1%,6+& ;0+&8 D%(;( 4%109",; 87%#"*"# 0B86+#&%8 B&0#\H
",; + 6+8\F +,- 6$%4%*04% :8% 6+#6"#8 8:#$ +8 *041+& +4;:1%,6+6"0, +,",*041+6"0, %@#$+,;%( S6 1+3 +&80 B% 74%-"#6%- 6$+6 ,%;06"+6048 ", $";$
1+86%43 #:&6:4%8 T"&& B% 104% &"\%&3 60 *0#:8 0, T",,",; D%(;( #017%6"6"9%
;0+&8F? +,- 6$%4%*04% :8% 104% -01",+6",; 6+#6"#8 8:#$ +8 6$4%+68 04
T+4,",;8( W",+&&3? *:6:4% 4%8%+4#$ 1+3 +&80 ",9%86";+6% $0T +87%#68 0*
#:&6:4% +4% 4%&+6%- 60 M:86"#% 106"9%8 D%(;( 740#%-:4+&? -"864"B:6"9%? ",6%4H
+#6"0,+&F T"6$", + ,%;06"+6"0, #0,6%@6 D8%% !044"8 p a%:,;? 6$"8 87%#"+&
"88:%F( W04 %@+17&%? T% 1+3 *",- 6$+6 ,%;06"+6048 T%";$ M:86"#% #0,#%4,8
-"**%4%,6&3 +#4088 #:&6:4%8? T"6$ ,%;06"+6048 ", #:&6:4%8 $";$ 0, 1+86%43
74"04"6"8",; 0:6#01% *+"4,%88? +,- #:&6:4%8 $";$ 0, $+410,3 74"04"6"8",;
",6%4+#6"0,+& *+"4,%88 ", ,%;06"+6"0,8(
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

81

=:.(:&% -"/ 1%.+;&%6:.-(#*" #" G%6*(#-(#*"( S, +--"6"0, 60 6$% #0,6%,6 0*


,%;06"+6048G ;0+&8? T% +&80 708"6 6$+6 +87%#68 0* #:&6:4% T"&& "17+#6 6$% D-)'
", T$"#$ ,%;06"+6048 4%;:&+6% 6$%"4 ;0+&8( A,% 4%&%9+,6 -"86",#6"0, "8 T$%6$%4
",-"9"-:+&8 4%;:&+6% 6$%"4 B%$+9"0:4 6$0:;$ 3&#9-&) 04 '%4*"/-&) #0,640&
1%#$+,"818 De%"8q? c06$B+:1? p i&+#\B:4,? Ehj^F( Z4"1+43 #0,640& 4%*%48
60 +66%1768 60 #$+,;% 06$%48 +,- 8"6:+6"0,8 60 1%%6 0,%G8 ,%%-8? T$%4%+8
8%#0,-+43 #0,640& 4%*%48 60 #$+,;",; 0,%8%&* 60 *"6 T"6$ 6$% %,9"40,1%,6(
i+8%- 0, _#$T+46qG8 DEhh^F 4%8%+4#$? "6 1";$6 B% 708"6%- 6$+6 ,%;06"+6048
T0:&- B% 104% &"\%&3 60 :8% 74"1+43 #0,640& 1%#$+,"818 60 4%;:&+6% ;0+&8
", #:&6:4%8 T$"#$ +4% $";$ 0, 1+86%43? T$%4%+8 ,%;06"+6048 T0:&- B% 104%
&"\%&3 60 :8% 8%#0,-+43 #0,640& 1%#$+,"818 60 4%;:&+6% ;0+&8 ", #:&6:4%8
T$"#$ +4% $";$ 0, $+410,3( K$% "17&"#+6"0, 0* 6$"8 +,+&38"8 "8 6$+6 ,%;0H
6"+6048G 9"%T8 0* 6$% +774074"+6% T+3 60 +#$"%9% 6$%"4 ;0+&8 1+3 B% >:"6%
-"**%4%,6? -%7%,-",; 0, 6$%"4 7+46"#:&+4 #:&6:4+& 9+,6+;% 70",6(
S, 8:1? *:6:4% 4%8%+4#$ T0:&- B%,%*"6 *401 %@+1",",; $0T #:&6:4% +**%#68
,%;06"+6048G #0;,"6"0,8 D%(;( "17&"#"6 6$%04"%8? M:-;1%,6 B"+8%8? 4%+80,",;
740#%88%8F +,- 106"9%8 D%(;( ;0+&8 +,- 8%&*H4%;:&+6"0,F? %+#$ 0* T$"#$ +4%
%@7%#6%- 60 4%&+6% 60 -"**%4%,6 ,%;06"+6"0, 864+6%;"%8( e"6$ 4%87%#6 60 ",6%4H
#:&6:4+& ,%;06"+6"0,8? 6$"8 +,+&38"8 8:;;%868 6$+6 7+46"%8 1+3 B% #0,864:",;
"-%,6"#+& 8"6:+6"0,8 -"**%4%,6&3? 740#%88",; 6$% 8+1% ",*041+6"0, -"**%4%,6&3?
+,- 7:48:",; -"**%4%,6 ;0+&8? +&& 0* T$"#$ 1+3 1+\% "6 104% -"**"#:&6 60
#004-",+6% +,- #01% 60 $";$ >:+&"63 +;4%%1%,68(

(')#'$,\ +$%]!9*) -!#'*#!%"*) (%"&!#!%"-\ *"&


",/%#!*#%$-W +-4(6%)%/!(*) -#*#,Y8 "&&:864+6%- ", W";( l? 6$%4% +4% + ,:1B%4 0* T+38 ", T$"#$ #:&6:4% +,740@"1+& 8"6:+6"0,+& #0,-"6"0,8 +4% 4%&+6%-? ",#&:-",; B06$ 1+", %**%#68 +,10-%4+6",; %**%#68( W"486? #:&6:4% "8 %@7%#6%- 60 +**%#6 6$% 637%8 0* 740@"1+&
8"6:+6"0,+& #0,-"6"0,8 6$+6 #$+4+#6%4"8% ,%;06"+6"0,8 D"(%( $+9% 9-#" %++%4('
0, 8"6:+6"0,+& #0,-"6"0,8F( K$%4% +4% + 9+4"%63 0* 8"6:+6"0,+& #0,-"6"0,8
T$"#$ -"**%4%,6"+6% ,%;06"+6"0,8 DZ4:"66 p 5+4,%9+&%? EhhlF? ",#&:-",; 6$%
,+6:4% 0* 6$% 4%&+6"0,8$"7 B%6T%%, 6$% 7+46"%8 D%(;( 70T%4 -"**%4%,6"+&8F?
7+463 #0,*";:4+6"0,8 D%(;( -3+-"#? ;40:7? +,- 6$% :8% 0* 6$"4- 7+46"%8F?
-%+-&",%8 D%(;( 6"1% #0,864+",68F? +,- 6$% 80#"+& 8%66",; D%(;( 7:B&"# 04 74"9+6%?
*041+& 04 ",*041+&F( i%#+:8% #:&6:4+& #0,6%@68 -"**%4 ", 6%418 0* -"864"B:6"0,
0* 80#"+& 74+#6"#%8 +,- %9%43-+3 8"6:+6"0,8 D!+4\:8 %6 +&(? Ehh]F? "6 "8 &"\%&3
6$+6 6$% 3&%$-.%"4% 0* #%46+", 637%8 0* 740@"1+& #0,-"6"0,8 T$"#$ +4%
#$+4+#6%4"86"# 0* ,%;06"+6"0,8 T"&& 9+43 +#4088 #:&6:4+& #0,6%@68 D#*( Y-&%4?
EhhER a%T"#\"? a"66%4%4? !",60,? p _+:,-%48? Ehh^R K4"+,-"8 p i$+T:\?
Ehh]F(
i+8%- 0, _#$T+46qG8 4%8%+4#$? T% 1+3 %@7%#6 6$+6 ,%;06"+6"0,8 ", #:&6:4%8
$";$ 0, #0,8%49+6"81 D#0&&%#6"9"81F +4% 104% &"\%&3 60 ",90&9% ;40:78 +,! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

82

/,)3*"& *"& &4,$

6$"4- 7+46"%8? T$"&% ,%;06"+6"0,8 ", #:&6:4%8 $";$ 0, +:60,013 D",-"9"-:+&H


"81F +4% 104% &"\%&3 60 ",90&9% ",-"9"-:+&8 04 4%74%8%,6+6"9%8 0* ;40:78(
L9%, T$%, ,%;06"+6"0,8 +4% B%6T%%, 4%74%8%,6+6"9%8 ", -"**%4%,6 #:&6:4%8? "6
"8 &"\%&3 6$+6 6$% #4"6%4"+ *04 6$%"4 8%&%#6"0, T"&& 9+43 +#4088 #:&6:4%8 Da%T"#\"
%6 +&(? Ehh^F( W04 %@+17&%? #:&6:4%8 $";$ 0, +:60,013 D%(;( 6$% [_YF 1+3 B%
104% &"\%&3 60 #$008% 4%74%8%,6+6"9%8 B+8%- 0, +#$"%9%- 86+6:8 D%(;( %@7%46"8%
04 +##017&"8$1%,68F? T$"&% #:&6:4%8 $";$ 0, $"%4+4#$3 D%(;( 5$",+F 1+3 B%
104% &"\%&3 60 #$008% 4%74%8%,6+6"9%8 B+8%- 0, +8#4"B%- 86+6:8 D%(;( +;%?
80#"+& #&+88F( S,-%%-? 06$%4 +87%#68 0* #:&6:4% 1+3 +**%#6 #0170,%,68 0* 6$%
80#"+& 8%66",; T$"#$ +4% #$+4+#6%4"86"# 0* ,%;06"+6"0,8( W04 %@+17&%? 6$%
*041+&"63 0* ,%;06"+6"0, 8"6:+6"0,8 1+3 B% &",\%- 60 6";$6,%88g&008%,%88( e%
1+3 %@7%#6 6$+6 ", 6";$6 #:&6:4%8 D%(;( )%41+,3F? ,%;06"+6"0,8 T"&& B% 104%
&"\%&3 60 +-$%4% 60 104% 74%#"8% 74060#0& +,- *041+&"63 D%(;( -4%88? 8%+6",;
+44+,;%1%,68F? +8 #017+4%- 60 &008% #:&6:4%8 D%(;( K$+"&+,-F( a"\%T"8%? 6$%
-%;4%% 60 T$"#$ 6"1% #0,864+",68 +4% "1708%- 0, ,%;06"+6"0,8 1+3 +&80 B%
&",\%- 60 6$% #:&6:4+& #0,6%@6( S, 7+46"#:&+4? T% 1+3 *",- 6$+6 ", #:&6:4%8
$";$ 0, 1+86%43? T$"#$ 740106% ",-"9"-:+&8G 864"9",; *04 +#$"%9%1%,6 +,8:##%88? 6$%4% "8 &%88 6"1% +**04-%- *04 ,%;06"+6"0,8? +8 #017+4%- 60 #:&6:4%8
$";$ 0, $+410,3( S,-%%-? 6$"8 "8 #0,8"86%,6 T"6$ + nn6"1% "8 10,%3GG
1%6+7$04 74%9+&%,6 ", 1+,3 e%86%4, #0,6%@68? ", T$"#$ 6"1% #+, B% T+86%-?
87%,6? +,- 8+9%- Da+\0** p '0$,80,? EhjUF( e$"&% 6$%8% %@+17&%8 +4% *+4
*401 %@$+:86"9%? 0,% "17046+,6 "17&"#+6"0, 0* 6$"8 -"8#:88"0, "8 6$+6
,%;06"+6048 ", -"**%4%,6 #:&6:4%8 1+3 ",9+4"+B&3 *+#% + -"**%4%,6 7+66%4, 0*
80#"+&&3 #0,864:#6%- 740@"1+& #0,-"6"0,8( S, 6$% %9%,6 0* ",6%4#:&6:4+&
,%;06"+6"0,8? 6$%,? "6 "8 &"\%&3 6$+6 6$% 8"6:+6"0,+& #0,-"6"0,8 6$+6 6$% 7+46"%8
%@7%#6 +,- 8%% +8 ,+6:4+& 60 6$% ,%;06"+6"0, #0,6%@6 +4% >:"6% -"**%4%,6?
T$"#$ 1+3 4%8:&6 ", #0,*:8"0,? +,- 7%4$+78 *4:864+6"0, +10,; 6$% 7+46"%8(
K$:8 *+4? T% $+9% -"8#:88%- 6$% T+38 ", T$"#$ #:&6:4% "8 &"\%&3 60 $+9%
-"4%#6 04 1+", %**%#68 0, 6$% 740@"1+& ,%;06"+6"0, #0,6%@6( V0T%9%4? ", 6$%
8386%1 0* ,%;06"+6"0,? #:&6:4% "8 +&80 &"\%&3 60 ",6%4+#6 T"6$ 740@"1+&
#0,-"6"0,8 60 74%-"#6 ,%;06"+6048G 783#$0&0;"#+& 86+6%8 +,- 6+#6"#8 ,%;0H
6"+6"0,8 D+,- 6$:8 #:&6:4% T"&& $+9% 9*/%&-(#"6 %++%4('F( Z:6 -"**%4%,6&3? 6$%
"17+#6 0* 740@"1+& 8"6:+6"0,+& #0,-"6"0,8 0, ,%;06"+6048G 783#$0&0;"#+&
86+6%8 "8 &"\%&3 60 9+43 -%7%,-",; 0, 6$% #:&6:4+& #0,6%@6( S, 6$"8 4%87%#6?
6$% 8+1% nn0BM%#6"9%GG 80#"+& #0,-"6"0,8 D%(;( #0,86"6:%,68? 6"1% 74%88:4%?
8:49%"&&+,#%? 70T%4 -"**%4%,6"+&8F +4% %@7%#6%- 60 B% +8#4"B%- -"**%4%,6
1%+,",;8? +,- %90\% -"**%4%,6 B%$+9"0:48? +#4088 #:&6:4%8( K$:8? 6$%
1%+,",; 0* 740@"1+& 8"6:+6"0,+& #0,-"6"0,8 "8 4:.(:&-..) 4*"(%<(:-.#'%/ +,%@7%4"%,#%-( S17046+,6&3? +,- #0,8"86%,6 T"6$ W";( l? 6$"8 +&80 8:;;%868 6$+6
,%;06"+6048G 8#$%1+8 +,- #0;,"6"0,8 D#(5#" #:&6:4%8 +4% ,06 86+6"#r6$%3 #+,
#$+,;% -%7%,-",; 0, 6$% 8"6:+6"0,(
Y&0,; 6$%8% &",%8? )%&*+,- +,- c%+&0 D", 74%88F +4;:%- 6$+6 +##0:,6+B"&"63
60 0,%G8 #0,86"6:%,68 T0:&- -"**%4%,6"+&&3 +**%#6 ,%;06"+6048G #0,864:+&8?
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

85

6+#6"#8? +,- 0:6#01%8 +10,; ",-"9"-:+&"868 +,- #0&&%#6"9"868( S, + ,%;06"+H


6"0, #0,6%@6? +##0:,6+B"&"63 "8 637"#+&&3 +#6"9+6%- T$%, 4%74%8%,6+6"9%8 +4%
4%>:"4%- 60 M:86"*3 6$%"4 +#6"0,8 +*6%4 6$% ,%;06"+6"0,? T$%, 6$%3 +4% ;0",; 60
B% %9+&:+6%-? 04 T$%, 6$%"4 4%T+4-8 04 7:,"8$1%,68 +4% ", 6$%"4 #0,86"6:%,6G8
#0,640& D5+4,%9+&%? EhjmF( )%&*+,- +,- c%+&0 D", 74%88F 4%+80,%- 6$+6 8",#%
+##0:,6+B"&"63 "8 *:,-+1%,6+&&3 + ,041H%,*04#%1%,6 1%#$+,"81 DK%6&0#\?
EhhJF? +,- ,0418 +,- 86+,-+4-8 *04 B%$+9"0:4 9+43 *04 ",-"9"-:+&"868 +,#0&&%#6"9"868 D!+4\:8 p o"6+3+1+? EhhER K4"+,-"8? EhhmF? +##0:,6+B"&"63 60
#0,86"6:%,68 T0:&- +#6"9+6% -"**%4%,6 #0;,"6"9% #0,864:+&8 +,- B%$+9"0:48
+#4088 #:&6:4%8( Y8 74%-"#6%-? 6$% 4%8:&68 0* 6T0 &+B04+6043 86:-"%8 "&&:864+6%6$+6 +10,; #0&&%#6"9"868? +##0:,6+B"&"63 +#6"9+6%- #007%4+6"9% #0,864:+&8 +,B%$+9"0:48? +,- 4%8:&6%- ", $";$%4 0:6#01%8( Y10,; ",-"9"-:+&"868? $0TH
%9%4? +##0:,6+B"&"63 +#6"9+6%- #017%6"6"9% #0,864:+&8 +,- B%$+9"0:48? +,4%8:&6%- ", &0T%4 0:6#01%8( K$%8% 86:-"%8 "&&:864+6% 6$+6 6$% '-9% 8"6:+6"0,
-"**%4%,6"+&&3 +**%#6%- ,%;06"+6048? -%7%,-",; 0, 6$%"4 #:&6:4+& B+#\;40:,-(
a"\%T"8%? K",8&%3 +,- Z"&&:6&+ DEhhjF -%10,864+6%- 6$+6 "-%,6"#+& #007%4+H
6"9% ",864:#6"0,8 +#6"9+6%- -"**%4%,6 1%+,",;8 +10,; ,%;06"+6048 ", 6$% [_Y
+,- V0,; o0,;( _7%#"*"#+&&3? ,%;06"+6048 ", V0,; o0,; ",6%474%6%- #0H
07%4+6"9% ",864:#6"0,8 60 1%+, 6$%3 8$0:&- 864"9% *04 %>:+&"63 ", 0:6#01%8?
T$%4%+8 [_ ,%;06"+6048 ",6%474%6%- 6$% 8+1% ",864:#6"0,8 +8 ",-"#+6"9% 0*
6$% ,%%- 60 864"9% *04 M0",6 ;+",( 50,8"86%,6 T"6$ W";( l? B06$ 0* 6$%8% 86:-"%8
:,-%48#04% 6$% ,06"0, 6$+6 +87%#68 0* #:&6:4% ",6%4+#6 T"6$ 740@"1+& ,%;0H
6"+6"0, #0,-"6"0,8 60 +**%#6 #0;,"6"0,8? T$"#$ #+,? ", 6:4,? +**%#6 6+#6"#8 +,0:6#01%8(
K$%4% "8 1:#$ 4%8%+4#$ 6$+6 ,%%-8 60 B% -0,% 60 *:46$%4 0:4 :,-%4H
86+,-",; 0* $0T #:&6:4% 10-%4+6%8 6$% "17+#6 0* 740@"1+& 8"6:+6"0,+& #0,H
-"6"0,8 0, ,%;06"+6048G 783#$0&0;"#+& 86+6%8 +,- 6+#6"#8( i3 T+3 0* %@+17&%?
B%&0T T% -"8#:88 4%8%+4#$ 74087%#68 *04 +--"6"0,+& T+38 ", T$"#$ 4%&+6"0,H
8$"78 T"6$ #0,86"6:%,68? 4%&+6"0,8$"78 T"6$ 0770,%,68? +,- -%+-&",%8 1+3
$+9% -"**%4%,6"+& "17+#6 0, ,%;06"+6048G 783#$0&0;"#+& 86+6%8 +,- 6+#6"#8
+#4088 #:&6:4%8(

(@=A@B< CD; (:DGAIA@<DFI<G


Z+46"%8 ", ,%;06"+6"0, 8"6:+6"0,8 0*6%, #0,8"86 0* 6&*:3' 0* 7%07&% T$0 +4%
+66%176",; 60 4%+#$ +;4%%1%,6( K$%8% ;40:78 0*6%, 4%&3 0, ",-"9"-:+& +;%,68
60 4%74%8%,6 6$%"4 ",6%4%868? +,- 60 #0,-:#6 64+,8+#6"0,8 6$+6 +**%#6 6$%
;40:7G8 T%&*+4% Dc:B", p _+,-%4? EhjjF( W04 ",86+,#%? ", + B:8",%88 #0,6%@6?
,%;06"+6"0,8 0*6%, 6+\% 7&+#% B%6T%%, 4%74%8%,6+6"9%8 0* -"**%4%,6 #011"6H
6%%8? -%7+461%,68? 04 04;+,"8+6"0,8( S, 8:#$ 8"6:+6"0,8? #0,86"6:%,68 0*6%,
;"9% ",864:#6"0,8 60 6$%"4 4%74%8%,6+6"9%8 T"6$ 4%87%#6 60 87%#"*"# &"1"68 +,74"04"6"%8? +8 T%&& +8 ;%,%4+& 864+6%;"%8 ", 6$% ,%;06"+6"0, D%(;( 60 #017%6% 04
#007%4+6%F DY-+18? Eh]fF( Y8 -%7"#6%- ", W";( l? 6$% ,+6:4% +,- %@6%,6 0*
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

80

/,)3*"& *"& &4,$

#0,86"6:%,68G ",*&:%,#% 0, ,%;06"+6048G 783#$0&0;"#+& 86+6%8 "8 %@7%#6%- 60


9+43 +#4088 #:&6:4%8( W04 ",86+,#%? B+8%- 0, 6$% ,06"0, 6$+6 #:&6:4%8 9+43 0,
6$% -%;4%% 60 T$"#$ 6$% 8%&* "8 %1B%--%- 04 -%6+#$%- *401 #0&&%#6"9%8
D_#$T+46q? Ehh^F? *:6:4% 4%8%+4#$ 1+3 6%86 6$% 7088"B"&"63 6$+6 ,%;06"+6048G
#0;,"6"0,8 +,- 6+#6"#8 1+3 B% 104% +**%#6%- B3 6$%"4 4*"'(#(:%"(I' #"'(&:4;
(#*"' ", #:&6:4%8 $";$ 0, #0,8%49+6"81? T$%4%+8 6$%3 1";$6 B% 104% +**%#6%B3 6$% 3&*4%'' (5-( %"':%' +6 6$% ,%;06"+6"0, 6+B&% ", #:&6:4%8 $";$ 0,
+:60,013( S, 6$"8 4%87%#6? T% 1+3 *",- 6$+6 ", #:&6:4%8 $";$ 0,
#0,8%49+6"81? ,%;06"+6048 *%%& 6$%3 $+9% 6$%"4 nn$+,-8 6"%-GG? 783#$0&0;"#+&&3
87%+\",;? 60 + ;4%+6%4 %@6%,6 T$%, ;"9%, ",864:#6"0,8 B3 #0,86"6:%,68? +8
#017+4%- 60 ,%;06"+6048 ", #:&6:4%8 $";$ 0, +:60,013(
a"\%T"8%? +,06$%4 -"1%,8"0, 0, T$"#$ 4%74%8%,6+6"9% ,%;06"+6"0,8 9+43
"8 0, 6$% -%;4%% 60 T$"#$ #0,86"6:%,68 +4% +#6:+&&3 0B8%49",; ,%;06"+6"0,8
D"(%( 4%74%8%,6+6"9%8 +4% :,-%4 8:49%"&&+,#% 9%48:8 ", 74"9+6%F( V0T%9%4? #0,H
8"86%,6 T"6$ + #:&6:4+& 7%487%#6"9%? 6$% 74%8%,#% 04 +B8%,#% 0* #0,86"6:%,68
-:4",; ,%;06"+6"0,8 +#6"9+6%8 -"**%4%,6 7%4#%76"0,8? -%7%,-",; 0, 6$% #:&H
6:4+& #0,6%@6 0* 6$% ,%;06"+6"0,8( S, 7+46"#:&+4? ", $";$ +:60,013 #:&6:4%8?
", T$"#$ ",-%7%,-%,#% +,- 74"9+#3 +4% 9+&:%-? 6$% 74%8%,#% 0* 06$%48 1+3
B% ",6%474%6%- +8 + 8";, 0* -"864:86? T$"#$ $+8 B%%, *0:,- 60 ",#4%+8%
#017%6"6"9% #0,864:+&8 +,- B%$+9"0:48 ", ,%;06"+6"0,8 D5+4,%9+&%? Z4:"66? p
i4"660,? Eh]hF( b%6 6$% 74%8%,#% 0* #0,86"6:%,68 ", #:&6:4%8 $";$ 0, #0,H
8%49+6"81 1+3 B% 104% ,+6:4+& +,- %@7%#6%-? +,- 6$:8 1+3 B% +880#"+6%T"6$ 7%4#%76"0,8 0* 64:86 +,- 8:77046 +10,; 4%74%8%,6+6"9%8(

(@=A@B< CD; "<H:AICA:B $<=CAI:DGKIRG


W:6:4% 4%8%+4#$ T0:&- B%,%*"6 *401 %@+1",",; 6$% ",6%4+#6"0, 0* #:&6:4% +,06$%4 8"6:+6"0,+& #0,-"6"0,8 6$+6 +4% 74%8%,6 ", ,%;06"+6"0,8? 8:#$ +8 6$%
7+46"#:&+4 4%&+6"0,8$"7 6$+6 %@"868 A%(D%%" ,%;06"+6048 +6 6$% 6+B&%( W04
%@+17&%? "6 "8 &"\%&3 6$+6 ,%;06"+6048G 4%&+6"9% 70T%4 T"&& $+9% + -"**%4%,6"+&
"17+#6 0, 783#$0&0;"#+& 86+6%8 +,- 6+#6"#8 +#4088 #:&6:4%8( Z0T%4 #+, B%
-%4"9%- *401 -'4&#A%/ 86+6:8 D%(;( 0,%G8 40&%F? 04 -45#%$%/ 86+6:8 D%(;( 6$+6
T$"#$ "8 ;+",%- 6$40:;$ +#>:"4%- 4%80:4#%8? 8:#$ +8 #0,#%88"0,8 +#>:"4%", 6$% ,%;06"+6"0,? 04 0,%G8 B%86 +&6%4,+6"9% 60 ,%;06"+6%- +;4%%1%,68? 04
iYK/YF Da%T"#\" %6 +&(? Ehh^R Z4:"66 p 5+4,%9+&%? EhhlF( i+8%- 0, _#$T+46qG8
4%8%+4#$? T% 1+3 %@7%#6 6$+6 70T%4 -%4"9%- *401 6$%8% 6T0 80:4#%8 T"&& $+9%
-"**%4%,6 %**%#68 ", #:&6:4%8 $";$ 0, 1+86%43 9%48:8 6$08% $";$ 0, $"%4+4#$3(
W04 ",86+,#%? 4%8%+4#$ ", 6$% [_Y $+8 #0,8"86%,6&3 "&&:864+6%- 6$+6 ,%;0H
6"+6048 T$0 $+9% 70T%4 B+8%- 0, + $";$ iYK/Y? 04 +#$"%9%- 86+6:8? +4% &%88
T"&&",; 60 #0,#%-%? +,- 0B6+", $";$%4 0:6#01%8 +8 #017+4%- 60 ,%;06"+6048
T"6$ + &0T iYK/Y D%(;( i+#$+4+#$ p a+T&%4? EhjEF( Y6 6$% 8+1% 6"1%?
%@"86",; #4088H#:&6:4+& 4%8%+4#$ B3 )4+$+1 +,- +880#"+6%8 $+8 "&&:864+6%6$+6 ,%;06"+6048G 86+6:8 -%4"9%- *401 +8#4"B%- 40&%8 D%(;( B:3%4 9%48:8 8%&&%4F
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

87

"8 104% 74%-"#6"9% 0* 0:6#01%8 ", $"%4+4#$"#+& #:&6:4%8( i+8%- 0, 6$"8


+,+&38"8? "6 8%%18 7&+:8"B&% 6$+6 ", #:&6:4%8 $";$ 0, 1+86%43? iYK/Y8 T"&&
$+9% 104% 0* +, %**%#6 0, ,%;06"+6048G ",6%,6"0,8 +,- B%$+9"0:48 6$+,
+664"B:6%8 0* +8#4"B%- 86+6:8 D%(;( +;%F? T$"&% 6$% 4%9%48% 8$0:&- B% 64:% ",
#:&6:4%8 $";$ 0, $"%4+4#$3( S,-%%-? T% 1+3 +&80 *",- 6$+6 ,%"6$%4 +8#4"B%,04 +#$"%9%- 86+6:8 $+8 +8 1:#$ 0* +, "17+#6 0, ,%;06"+6048G ",6%,6"0,8
+,- B%$+9"0:48 ", #:&6:4%8 $";$ 0, %;+&"6+4"+, #011"61%,6? 8",#% 86+6:8
+,- 70T%4 -"**%4%,#%8 +4% ;%,%4+&&3 %8#$%T%- ", 6$%8% #:&6:4%8 D%(;( S84+%&"
\"BB:6q"1? W",&+,-F D#*( i4%66? Y-+"4? a%17%4%:4? A\:1:4+? _$"\$"4%9?
K",8&%3? p a36&%? EhhjF(
Y&0,; 6$% 8+1% &",%8? 6$%4% "8 9"46:+&&3 ,0 %@"86",; 4%8%+4#$ 0, T$%6$%4 6$%
B%$+9"0:4 0* $";$ 70T%4 ,%;06"+6048 "8 ",9+4"+,6 +#4088 #:&6:4+& #0,6%@68(
c%8%+4#$ ", e%86%4, #0,6%@68 $+8 "&&:864+6%- 6$+6 $";$ 70T%4 ,%;06"+6048
637"#+&&3 1+\% *%T%4 #0,#%88"0,8 +,- 104% 6$4%+68 ", ,%;06"+6"0,8? +8
#017+4%- 60 &0T 70T%4 ,%;06"+6048 D!"#$%,%4? d+8\%? _#$&%"**%4? Z&+q%T8\"?
p 5$+71+,? Eh]mF( S6 "8 "17046+,6 60 %@+1",% T$%6$%4 6$"8 *",-",; "8
:,"9%48+& 04 #:&6:4%H87%#"*"#( Z%4$+78 ", #:&6:4%8 $";$ 0, #0,8%49+6"81 +,$"%4+4#$3? T$%4%", 8:7%4"048 +4% %@7%#6%- 60 6+\% #+4% 0* 6$%"4 8:B04-",+6%8?
$";$ 70T%4 ,%;06"+6048 T"&& ,06 :8% #017%6"6"0, +,- 6$4%+68( a"\%T"8%? +
4%&+6%- +4%+ 4"7% *04 *:6:4% 4%8%+4#$ "8 $0T ,%;06"+6048 4%870,- 60 &%.-(#$%
70T%4 -"**%4%,#%8 6$+6 %@"86 B%6T%%, 6$% ,%;06"+6048( V04,86%", DEhfmF *0:,6$+6 -3+-8 T"6$ 81+&& 70T%4 -"**%4%,6"+&8 +#$"%9%- *%T%4 +;4%%1%,68 +8
#017+4%- 60 -3+-8 T"6$ &+4;% -"8#4%7+,#"%8 04 ,0 -"8#4%7+,#"%8 ", 70T%4(
S, %**%#6? ,%;06"+6048 T"6$ 81+&& 70T%4 -"**%4%,6"+&8 %,6%4 ",60 nn70T%4
864:;;&%8GG B%#+:8% &0T%4 86+6:8 ,%;06"+6048 +4% ,06 T"&&",; 60 +##%76 8:#$
70T%4 -"**%4%,#%8 DZ4:"66 p 5+4,%9+&%? EhhlF( V0T%9%4? "6 "8 &"\%&3 6$+6
-"8#4%7+,#"%8 ", 70T%4 +4% ",6%474%6%- -"**%4%,6&3 +#4088 #:&6:4%8? +,- 6$:8?
4%&+6% -"**%4%,6"+&&3 60 ,%;06"+6048G 783#$0&0;"#+& 86+6%8 +,- B%$+9"0:48(
W04 %@+17&%? ", ,%;06"+6"0,8 ", T$"#$ 6$%4% "8 + -"8#4%7+,#3 ", 70T%4?
,%;06"+6048 ", #:&6:4%8 $";$ 0, 1+86%43 9+&:%8? T$0 ;+", 86+6:8 6$40:;$
#017%6"6"0,? T"&& B% 7+46"#:&+4&3 &"\%&3 60 7%4#%"9% 8:#$ 8"6:+6"0,8 +8
#017%6"6"9%(

(@=A@B< CD; &<C;=ID<G


a+86&3? +8 "&&:864+6%- ", W";( l? +, "17046+,6 +4%+ *04 *:6:4% 4%8%+4#$ "8 $0T
-%+-&",%8 +**%#6 ,%;06"+6048G #0;,"6"0,8 +,- B%$+9"0:48 ", -"**%4%,6 #:&6:4%8(
S, ,%;06"+6"0,8? 6$%4% 1+3 B% 8"6:+6"0,8 ", +&& #:&6:4%8 ", T$"#$ -%+-&",%8 +4%
"1708%- B3 6$% 06$%4 7+463 04 B3 0,%G8 #0,86"6:%,68( W401 + #:&6:4+& 9"%T?
$0T%9%4? 6$% 783#$0&0;"#+& 86+6%8 +#6"9+6%- ", 8:#$ 8"6:+6"0,8 +4% %@7%#6%- 60
B% ",*&:%,#%- B3 6$% 8$+4%- 1%+,",;8 +,- 74+#6"#%8 T$"#$ +4% 74%9+&%,6 ",
6$% 7+46"#:&+4 #:&6:4+& #0,6%@6( S, 6$"8 4%87%#6? o4:;&+,8\"G8 4%8%+4#$ 0, 6"1%
74%88:4% 1+3 B% 9%43 4%&%9+,6 60 4%8%+4#$ 0, #:&6:4% +,- ,%;06"+6"0,( S,
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

88

/,)3*"& *"& &4,$

7+46"#:&+4? 6"1% 74%88:4% $+8 B%%, *0:,- 60 +#6"9+6% #$40,"#+&&3 +##%88"B&%


8#$%1+8 DW04- p o4:;&+,8\"? EhhmF( )"9%, 6$+6 #0;,"6"9% 8#$%1+8 +4%
%@7%#6%- 60 B% 1%-"+6%- B3 6$% #:&6:4+& #0,6%@6? T% 1+3 *",- 6$+6 6"1%
74%88:4% T"&& -:69%"( 6$% 783#$0&0;"#+& 86+6%8 T$"#$ +4% +&4%+-3 74%9+&%,6 ",
+,3 7+46"#:&+4 #:&6:4%( W04 %@+17&%? T% 1+3 *",- 6$+6 6"1% 74%88:4% "1708%", 6$% [_Y DT$"#$ "8 $";$ 0, +:60,013 +,- 1+86%43F? %,$+,#%8 8#$%1+8 0*
8%&*H",6%4%86 +,- #017%6"6"0,? 8",#% 6$%8% 8#$%1+8 +4% +88:1%- 60 B% 104%
+##%88"B&% ", 6$"8 #0,6%@6( i3 #0,64+86? 6"1% 74%88:4% 1+3 %,$+,#% 8#$%1+8
0* #007%4+6"0, ", _#+,-",+9"+, #:&6:4%8? 8",#% 6$%8% 8#$%1+8 +4% +88:1%- 60
B% 104% +##%88"B&% ", #:&6:4%8 $";$ 0, $+410,3(
S, 8:1? ", 6$"8 8%#6"0,? T% $+9% +4;:%- 6$+6 *:6:4% 4%8%+4#$ T0:&- B%,%*"6
*401 %@+1",",; #:&6:4% +,- ,%;06"+6"0, T$"&% ",#04704+6",; +, +,+&38"8 0*
740@"1+& 8"6:+6"0,+& #0,-"6"0,8( K$"8 T"&& +&&0T 1+,+;%48 60 :,-%486+,- 6$%
637%8 0* 8"6:+6"0,+& #0,-"6"0,8 T$"#$ +4% &"\%&3 60 #$+4+#6%4"8% ,%;06"+6"0,8
", 06$%4 #:&6:4%8? +8 T%&& +8 6$% -"**%4%,6"+& "17+#6 #0,-"6"0,8 1+3 $+9% 0,
,%;06"+6048(

(')#'$, *- * 9%&,$*#%$ %3 #6, ,33,(# %3


+-4(6%)%/!(*) -#*#,- %" ",/%#!*#%$-W Y,6*.!%'$Y8 "&&:864+6%- ", W";( l? T% %@7%#6 6$+6 6$% 4%&+6"0,8$"7 B%6T%%, 783#$0H
&0;"#+& 86+6%8 +,- ,%;06"+6048G B%$+9"0:48 T"&& B% 10-%4+6%- B3 +87%#68 0*
#:&6:4%( S, 6$"8 4%87%#6? "6 "8 +4;:%- 6$+6 6$% '-9% 106"9+6"0,+& 04 #0;,"6"9%
04"%,6+6"0, 1+3 $+9% -"**%4%,6"+& %**%#68 0, 6+#6"#8? -%7%,-",; 0, 6$%
#:&6:4+& #0,6%@6 0* 6$% ,%;06"+6"0,8( K$"8 "8 74%-"#+6%- 0, 6$% ,06"0, 6$+6
#:&6:4%8 -"**%4 ,06 0,&3 0, 74%9+"&",; 106"9%8 +,- ;0+&8? B:6 +&80 0, 6$%
#"'(&:9%"(-.#(#%' 0* 6$% B%$+9"0:48 6$+6 +4% ,%#%88+43 60 +#$"%9% ;0+&8
Da%:,;? Ehj]F( i%&0T? T% -"8#:88 6T0 +4%+8 0* ",>:"43 +8 74087%#68
4%74%8%,6",; 6$"8 10-%4+6",; 4%&+6"0,8$"7(

(@=A@B< CD; AK< $<=CAI:DGKIR P<AQ<<D 9:AI[<G CD; #CFAIFG


Y8 1%,6"0,%- 74%9"0:8&3? 6$% -:+& #0,#%4, 10-%& DZ4:"66 p c:B",? EhjfF
$+8 B%%, 9%43 :8%*:& ", 74%-"#6",; ,%;06"+6048G 6+#6"#8 B+8%- 0, ,%;06"+6048G
#0,#%4, *04 8%&* 04 #0,#%4, *04 06$%48( _7%#"*"#+&&3? #0,6%,-",; 6%,-8 60
0##:4 T$%, ,%;06"+6048 $+9% $";$ #0,#%4, *04 8%&*? +,- &0T #0,#%4, *04
06$%48R 740B&%1 80&9",; 6%,-8 60 0##:4 T$%, ,%;06"+6048 $+9% $";$ #0,#%4,
*04 8%&* +,- $";$ #0,#%4, *04 06$%4R ",+#6"0, 6%,-8 60 0##:4 T$%, ,%;06"+6048
$+9% &0T #0,#%4, *04 8%&* +,- &0T #0,#%4, *04 06$%48R +,- 3"%&-",; 6%,-8 60
0##:4 T$%, ,%;06"+6048 $+9% &0T #0,#%4, *04 8%&* +,- $";$ #0,#%4, *04
06$%48 DZ4:"66 p 5+4,%9+&%? EhhlF( K$"8 10-%& $+8 4%#%"9%- 8:77046 ", +
9+4"%63 0* 86:-"%8 ", 6$% [_Y? :8",; -"**%4%,6 1%6$0-0&0;"%8 D5+4,%9+&% p
Z4:"66? EhhJF( e$"&% 6$% %&%1%,68 0* 6$"8 6$%043 1+3 B% :,"9%48+&? + >:%86"0,
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

8L

*04 *:6:4% 4%8%+4#$ "8 T$%6$%4 6$% 4%&+6"0,8 B%6T%%, 8%&*g06$%4 #0,#%4, +,7+46"#:&+4 6+#6"#8 +4% #:&6:4%H87%#"*"#( S6 "8 7088"B&%? *04 %@+17&%? 6$+6 ",
#:&6:4%8 $";$ 0, #0,8%49+6"81? 6$+6 $";$ 8%&* +,- 06$%4 #0,#%4, T0:&- 4%8:&6
", 6$% :8% 0* ",-"4%#6 +,- +90"-",; 864+6%;"%8? ;"9%, 6$+6 1+",6+",",;
4%&+6%-,%88 T"6$ 6$% 06$%4 7+463 "8 &"\%&3 60 B% 7+4+10:,6( K$"8 T0:&8:;;%86 6$+6 %9%, ;"9%, (5% '-9% .%$%.' *+ 4*"4%&" *04 8%&* +,- 06$%48? -"**%4H
%,6 864+6%;"%8 1+3 B% %,+#6%- B3 ,%;06"+6048 ", -"**%4%,6 #:&6:4%8( Y77&"%- 60
+, ",6%4#:&6:4+& #0,6%@6? 6$%,? "6 "8 7088"B&% 6$+6 7+46"%8 1+3 ",*%4 6$+6 6$%"4
0770,%,68 $+9% -"**%4%,6 ;0+&8 B+8%- 0, 6$%"4 -"**%4",; +#6"0,8? %9%, "* 6$%3
", *+#6 -0 8$+4% 8"1"&+4 ;0+&8(

(@=A@B< CD; AK< $<=CAI:DGKIR P<AQ<<D (:HDIAI:DG CD; #CFAIFG


Y&0,; 6$% 8+1% &",%8? W";( l "&&:864+6%8 6$+6 +87%#68 0* ,%;06"+6048G #0;,"6"0,
D%(;( 8#$%1+8F 1+3 ,06 B% :,"9%48+&&3 4%&+6%- 60 ,%;06"+6"0, 6+#6"#8( W04
",86+,#%? "6 "8 7088"B&% 6$+6 ", #:&6:4%8 $";$ 0, +:60,013? &088 *4+1%8 T"&&
&%+- 60 &%88 #0,#%88"0,H1+\",; ", +66%1768 60 1","1"8% 3%&'*"-. .*''%'( b%6
&088 *4+1%8 1+3 740106% #007%4+6"0, ", #:&6:4%8 $";$ 0, #0,8%49+6"81?
%87%#"+&&3 ", ",6%4+#6"0,8 T"6$ ",H;40:7 1%1B%48? T$%4%", ,%;06"+6048 1+3
+66%176 60 1","1"8% 6&*:3 .*''%' 6$40:;$ #0&&+B04+6"0,(
K$% ;%,%4+& "17&"#+6"0, -%4"9%- *401 6$"8 +,+&38"8 "8 6$+6 ,%;06"+6048G
783#$0&0;"#+& 86+6%8 1+3 ,06 +&T+38 4%&+6% 60 6$% 8+1% B%$+9"0:48
-%7%,-",; 0, 6$% #:&6:4+& #0,6%@6( Y&6$0:;$ T% $+9% ,06 -"8#:88%- 06$%4
783#$0&0;"#+& 86+6%8? 8:#$ +8 ,%;06"+6048G +**%#6? 4%8%+4#$ 1+3 +&80 *",- 6$+6
6$% 8+1% %106"0,8 %@7%4"%,#%- D%(;( +,;%4F 1+3 ,06 4%&+6% 60 6$% 8+1%
6+#6"#8 D%(;( +;;4%88"0,F B%#+:8% 0* -"**%4%,6 #:&6:4+& -"87&+3 4:&%8 D8%%
!%8>:"6+ p W4"-+? EhhJ? *04 -"8#:88"0, 0* 6$% %@74%88"0, 0* +,;%4 ", '+7+,?
*04 %@+17&%F( Y8 T"6$ 6$% 74%9"0:8 -"8#:88"0, 0, 106"9%8? 6$"8 "17&"%8 6$+6
,%;06"+6048 1+3 1"8+664"B:6% 06$%48G #0;,"6"0,8 04 %106"0,8 0* ,%;06"+6048
", -"**%4%,6 #:&6:4%8 B%#+:8% 6$%3 1+3 1"86+\%,&3 ",*%4 6$+6 6+#6"#8 +4%
",9+4"+,6&3 :8%- 60 %@74%88 6$% 8+1% 783#$0&0;"#+& 86+6%8 +8 ", 0,%G8 0T,
#:&6:4%(

(')#'$, *"& #6, &4"*9!( $,)*#!%"-6!+ Y,#^,,"


",/%#!*#%$-W Y,6*.!%'$-\ +-4(6%)%/!(*)
-#*#,-\ *"& %'#(%9,K$:8 *+4? T% $+9% *0#:8%- 74"1+4"&3 0, 86+6"# 4%&+6"0,8$"78 B%6T%%, 6$%
#0,864:#68 ", W";( l( V0T%9%4? +8 i+q%41+, +,- 5+440&& DEhj]F $+9% "&&:8H
64+6%- D+,- +8 -%7"#6%- ", W";( lF? ,%;06"+6"0, ",90&9%8 6$% -3,+1"# ",6%4H
7&+3 B%6T%%, + ,%;06"+604G8 B%$+9"0:48 +,- $0T 6$%3 +4% ",6%474%6%- B3
6$% ,%;06"+604G8 #0:,6%47+46R $0T 6$%8% ",6%474%6+6"0,8 ", 6:4, +**%#6 6$%
#0:,6%47+46G8 B%$+9"0:48R +,- $0T 6$% #0:,6%47+46G8 B%$+9"0:48 +4% ", 6:4,
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

LM

/,)3*"& *"& &4,$

",6%474%6%- B3 6$% *"486 ,%;06"+604r+ -3,+1"# 740#%88 T$"#$ :&6"1+6%&3


+**%#68 ,%;06"+6048G 0:6#01%8( S, 6$% #:44%,6 9"%T? 6$"8 -3,+1"# 740#%88 "8
",*&:%,#%- B3 #:&6:4%? B+8%- 0, 6$% ,06"0, 6$+6 #:&6:4% +**%#68 783#$0&0;"#+&
86+6%8? ,+1%&3 %@7%#6+6"0,8 +,- ",6%474%6+6"0,8 0* 6$% %,9"40,1%,6( !04%
87%#"*"#+&&3? T$%, 0,%G8 #0:,6%47+46G8 B%$+9"0:48 +4% #0,8"86%,6 T"6$ 0,%G8
#:&6:4+& %@7%#6+6"0,8? 6$%, ,%;06"+6048 1+3 B% B%66%4 +B&% 60 *0#:8 0, :8",;
7%48:+8"0, +,- ",*041+6"0, %@#$+,;% 60 #4%+6% 9+&:% ", ,%;06"+6"0,8? +,6$:8 +#$"%9% $";$%4 0:6#01%8 ", ,%;06"+6"0,8 D_$+7"40 p c0;,%8? EhhfF(
S,-%%-? + 4%#%,6 86:-3 B3 _$+7"40 +,- c0;,%8 DEhhfF 7409"-%8 801%
%9"-%,#% 6$+6 %@7%#6+6"0,8 -%4"9%- *401 #:&6:4+& %@7%4"%,#%8 +4% "17046H
+,6 ", 6$% ",6%474%6+6"0, 0* 6+#6"#8? +,- :&6"1+6%&3 0:6#01%8( K$%3 *0:,6$+6 $";$%4 &%9%&8 0* + -01",+6",; 04"%,6+6"0, Dc+$"1? EhjlF %,$+,#%",6%;4+6"9%,%88 04 M0",6 0:6#01%8 +10,; Y1%4"#+,8? B:6 4%-:#%- 6$% &%9%&
0* ",6%;4+6"9%,%88 +10,; /04T%;"+,8( K$%3 +4;:%- 6$+6 Y1%4"#+,8? T$0
+4% *401 + 104% ",-"9"-:+&"86"# #:&6:4%? 1+3 B% 104% #01*046+B&% T"6$
-01",+6",; B%$+9"0:4 0* 6$%"4 0770,%,68? T$"#$ T0:&- %,+B&% 6$%1 60
#0,6",:% *0#:8",; 0, #4%+6",; 9+&:% ", 6$% ,%;06"+6"0,( S, 8:77046 0* 6$"8?
Y1%4"#+, 8:BM%#68 %@7%#6%- 104% #017%6"6"0, *401 6$%"4 #0:,6%47+468 6$+,
-"- /04T%;"+, 8:BM%#68( K$:8? ", 6$"8 86:-3? B%#+:8% 6+#6"#8 T%4% &"\%&3
#"(%&3&%(%/ -"**%4%,6&3? 6$%3 -"**%4%,6"+&&3 +**%#6%- 0:6#01%8 +#4088 #:&6:4%8(
Y--"6"0,+& %9"-%,#% 0* 6$"8 7$%,01%,0, #+, B% *0:,- ", 86:-"%8 B3 i4%66
+,- #0&&%+;:%8 DEhhjF? T$0 *0:,- 6$+6 -"**%4%,6 6+#6"#8 4%&+6%- 60 6$%
#4%+6"0, 0* M0",6 ;+", +#4088 #:&6:4%8? +,- +&80 *0:,- 6$+6 6$%4% T%4% #:&6:4+&
-"**%4%,#%8 ", 6$% A%.#%+' +B0:6 6$% B%$+9"0:48 T$"#$ +4% "17046+,6 ", 6$%
#4%+6"0, 0* 9+&:%(
W:6:4% 4%8%+4#$ "8 ,%%-%- 60 *:46$%4 0:4 :,-%486+,-",; 0* 6$"8 -3,+1"#
740#%88? ", 06$%4 T04-8? $0T 783#$0&0;"#+& 86+6%8 -%4"9%- *401 6$% &+4;%4
#:&6:4+& #0,6%@6 +**%#6 $0T ,%;06"+6"0, B%$+9"0:48 +4% ",6%474%6%-? +,- $0T
6$"8 +**%#68 ,%;06"+6"0, 0:6#01%8( i%&0T? T% 0**%4 6T0 %@+17&%8 +8 + *:46$%4
"&&:864+6"0, 0* 8:#$ 7088"B"&"6"%8(

(@=A@B<\#CGV [<BG@G $<=CAI:DGKIR 3BCJ<G\ CD; AK< (B<CAI:D


:E .C=@< CFB:GG (@=A@B<G
A,% %@+17&% 0* 6$"8 4%&+6"0,8$"7 7%46+",8 60 6$% B%&"%* 8:;;%86%- B3
,%;06"+6"0, 8#$0&+48 6$+6 + *0#:8 0, 6$% 6+8\ &%+-8 60 $";$%4 ,%;06"+6"0,
0:6#01%8? +8 #017+4%- 60 + *0#:8 0, %106"0,8 04 4%&+6"0,8$"78 D24+\% p
20,0$:%? Ehh^R W"8$%4 p [43? EhjER Z",\&%3 p /046$#4+*6? Ehh^F( W04
%@+17&%? W"8$%4 +,- [43 DEhjEF #+:6"0, ,%;06"+6048 6$+6 %@6%,8"9% #0,#%4,
T"6$ 6$% 4%&+6"0,8$"7 T"&& ",$"B"6 %**%#6"9% #0,*&"#6 4%80&:6"0, +,- &%+- 60
8:B076"1+& 0:6#01%8? +,- +4;:% 6$+6 ,%;06"+6048 8$0:&- nn8%7+4+6% 6$%
7%480, *401 6$% 740B&%1GG( a"\%T"8%? 5+4,%9+&% DEhjmF T+4,8 6$+6 + *0#:8 0,
%106"0,8 #+, &%+- 60 8:B076"1+& 0:6#01%8( Z4%8:1+B&3? 4%&+6"0,8$"7 04
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

L>

%106"0,+& *4+1%8 -"864+#6 ,%;06"+6048 *401 :,#09%4",; 64+-%H0**8? T$"#$


4%8:&68 ", 7004%4 ",6%;4+6"9% +;4%%1%,68( 50,8"86%,6 T"6$ 6$%8% 74%10,"H
6"0,8? 4%8%+4#$ ", 6$% [_Y $+8 "&&:864+6%- 6$+6 + *0#:8 0, 6$% 6+8\? 4+6$%4
6$+, 4%&+6"0,8$"78 04 %106"0,8? &%+-8 60 $";$%4 0:6#01%8 D24+\% p
20,0$:%? Ehh^R Z",\&%3 p /046$#4+*6? Ehh^F( W401 + #:&6:4+& 7%487%#6"9%?
$0T%9%4? T$+6 "8 "17&"#"6 ", 6$"8 +,+&38"8 "8 6$+6 8:#$ *4+1%8 +,- B%$+9"0:48
+4% #0,8"86%,6 T"6$ 6$% 783#$0&0;"#+& 86+6%8 04 %@7%#6+6"0,8 +,- ,0418
4%&%9+,6 60 ",-"9"-:+&"81 +,- +:60,013( b%6 8",#% + *0#:8 0, 4%&+6"0,8$"7
+,- %106"0,+& +87%#68 0* 8"6:+6"0,8 "8 74%8:1%- 60 B% +-+76"9% *04
,%;06"+6048 ", #:&6:4%8 $";$ 0, #0,8%49+6"81? 6$%8% *4+1%8 +,- 4%&+6%6+#6"#8 1+3 +**04- ,%;06"+6048 ", 6$%8% #:&6:4%8 6$% +B"&"63 60 -"8#09%4 104%
#4%+6"9% 80&:6"0,8( S, 06$%4 T04-8? T% 1+3 *",- 6$+6 nn1%4;",; 6$% 7%480,
T"6$ 6$% 740B&%1GG "8 104% 8+;% +-9"#% *04 #4%+6",; 9+&:% *04 ,%;06"+6048 ",
6$%8% #0,6%@68(

(@=A@B<\ +CAA<BDG :E %EE<BG CD; AK< (B<CAI:D :E .C=@<


CFB:GG (@=A@B<G
W0&&0T",; *401 6$% +B09% &0;"#? +,06$%4 "17046+,6 +4%+ *04 *:6:4% 4%8%+4#$
"8 $0T 7+66%4,8 0* 0**%48 +4% 4%&+6%- 60 0:6#01%8 +#4088 #:&6:4%8( Y #0110,
*",-",; ", 6$% [_Y "8 6$+6 $";$%4 *"486 0**%48? T$"#$ +4% #01B",%- T"6$ 1+,3
#0,#%88"0,8? +4% 104% %**%#6"9% ", 0B6+",",; $";$ 0:6#01%8? +8 #017+4%- 60
10-%4+6% *"486 0**%48 +,- *%T%4 #0,#%88"0,8 Da%T"#\" %6 +&(? Ehh^F( S, 6$%
#:44%,6 9"%T? 6$"8 nn/**& #" (5% +-4%GG 8#4"76 "8 &"\%&3 ;40:,-%- ", #:&6:4+&
%@7%#6+6"0,8 +B0:6 6$% "17046+,#% 0* #4%+6",; +, "174%88"0, 0* 864%,;6$?
+,- 1+\",; :8% 0* ,0418 0* 4%#"740#"63 D%(;( ;"9%H+,-H6+\% #0,#%88"0,
1+\",;F( S, 06$%4 #:&6:4+& #0,6%@68? $0T%9%4? 6$%8% 6+#6"#8 +4% &"\%&3 60 6+\%
0, -"**%4%,6 1%+,",;8( S, #:&6:4%8 $";$ 0, #0,8%49+6"81? *04 %@+17&%?
%@64%1% B"-8 1+3 B% 7%4#%"9%- +8 ",6%4*%4",; T"6$ ",6%4-%7%,-%,#% +,%1B%--%-,%88 ", ;40:78( S, 6$%8% #:&6:4%8? 4%8%+4#$ 1+3 *",- 6$+6 + nn+**( #"
(5% /**&GG 6%#$,">:%? ", T$"#$ ,%;06"+6048 1+-% 10-%4+6% *"486 0**%48 60
8";,+& *&%@"B"&"63? "8 104% #0,-:#"9% 60 0B6+",",; $";$ 0:6#01%8( K$%
"17046+,6 "17&"#+6"0, 0* 6$"8 +,+&38"8 "8 6$+6 + 7+46"#:&+4 7+66%4, 0* 0**%48
1+3 B% 104% 04 &%88 %**%#6"9% -%7%,-",; 0, 6$% #:&6:4+& #0,6%@6(
S, 8:1? #:&6:4% "8 %@7%#6%- 60 ",*&:%,#% 6$% -3,+1"# ",6%47&+3 B%6T%%, 6$%
B%$+9"0:48 +,- 783#$0&0;"#+& 86+6%8 T"6$", + ,%;06"+6"0, -3+-? +,:&6"1+6%&3? 6$% 0:6#01%8 +#$"%9%-? +,- *:6:4% 4%8%+4#$ "8 ,%%-%- 60 "&&:864+6%
8:#$ %**%#68(

(%"()'-!%"
S, 6$"8 7+7%4? T% $+9% -0#:1%,6%- 801% 0* 6$% 740;4%88 +,- 7"6*+&&8 ",
#:&6:4% +,- ,%;06"+6"0, 4%8%+4#$( [,-0:B6%-&3? 6$% 8#"%,6"*"# 86:-3 0*
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

LN

/,)3*"& *"& &4,$

#:&6:4% +,- ,%;06"+6"0, $+8 B:4;%0,%- ", 6$% &+86 8%9%4+& -%#+-%8? +,- T%
$+9% 1+-% 1:#$ 740;4%88 8",#% V+40&- /"#0&80,G8 04";",+& 87%#:&+6"0,8 ",
Ehlh( e% $+9% -%6+"&%- 6T0 "17&"#"6 10-%&8 6$+6 $+9% B%%, ",9%86";+6%- ",
#:&6:4% +,- ,%;06"+6"0, 4%8%+4#$? +,- "&&:864+6%- 6$+6 6$"8 4%8%+4#$ $+8 B%%,
8:BM%#6 60 + ,:1B%4 0* 7"6*+&&8( e% 6$%, 0**%4%- + 6$"4- 10-%&? T$"#$
"&&:1",+6%8 6$% 1:&6"6:-% 0* T+38 ", T$"#$ +87%#68 0* #:&6:4% 1+3 ",*&:%,#%
6$% 8386%1 0* ,%;06"+6"0,( e$"&% 6$%4% +4% 801% 86:-"%8 T$"#$ +4% 8:77046"9%
0* 6$% 4%&+6"0,8 ", 6$"8 10-%&? 6$%4% "8 1:#$ 60 B% -0,%? +,- T% -"8#:88%801% 87%#"*"#? 6%86+B&% 7088"B"&"6"%8 *04 *:6:4% 4%8%+4#$( [&6"1+6%&3? B3
%@+1",",; 87%#"*"# 9+&:% -"1%,8"0,8? ,%;06"+6048G 783#$0&0;"#+& 86+6%8? +,740@"1+& 8"6:+6"0,+& #0,-"6"0,8 ", ,%;06"+6"0,8? +,- B3 %@+1",",; B06$
1+", +,- 10-%4+6",; %**%#68 0* #:&6:4%? T% T"&& B:"&- + 6$%04%6"#+& :,-%4H
86+,-",; 0* #:&6:4% +,- ,%;06"+6"0,? +,- B%;", 60 8%% ",60 6$% nnB&+#\ B0@GG(
K$"8 4%8%+4#$ T"&& +&80 ",9+4"+B&3 $%&7 :8 60 +-9+,#% + #:&6:4+& 7%487%#6"9%
0, ,%;06"+6"0,? +8 T%&& +8 60 :,-%486+,- T$+6 "8 :"#$%&'-. D%6"#F +,- 4:.(:&%;
'3%4#+#4 D%1"#F +B0:6 ,%;06"+6"0, 6$%04"%8 T$"#$ $+9% B%%, -%9%&07%- ",
e%86%4, #0,6%@68(

+BCFAIFC= !JR=IFCAI:DG
S, +--"6"0, 60 6$% +--%- 6$%04%6"#+& \,0T&%-;%? 6$% +-9+,#%1%,6 0* +
#:&6:4+& 7%487%#6"9% $+8 "17046+,6 74+#6"#+& "17&"#+6"0,8( Y8 T04&- 64+-%
+,- ;&0B+& %#0,01"# +#6"9"63 $+9% ;40T, %@70,%,6"+&&3? 1+,3 04;+,"8+6"0,8
$+9% B%#01% 74"1+4"&3 ",6%4,+6"0,+& ", 6$%"4 864+6%;3? 864:#6:4%? 1+4\%68?
+,- 4%80:4#% B+8%8 DY-&%4? EhhEF( Y8 + 4%8:&6? 6$%4% $+8 B%%, + ;4%+6 ",#4%+8%
", 6$% *4%>:%,#3 0* ",6%4#:&6:4+& ,%;06"+6"0,8( [,*046:,+6%&3? 1+,+;%48 T$0
+4% ,%;06"+6",; +#4088 #:&6:4+& B04-%48 86"&& -0 ,06 $+9% 1:#$ ", 6$% T+3 0*
6$%04%6"#+&&3 B+8%- \,0T&%-;% 60 4%&3 0, -:4",; 8:#$ %,#0:,6%48(
K$% *4+1%T04\ -"8#:88%- #+, 7409"-% 801% 74+#6"#+& +-9"#% *04 1+,+;%48
T$0 +4% ,%;06"+6",; +#4088 #:&6:4%8( _7%#"*"#+&&3? 1+,+;%48 T"&& B% ", + B%66%4
708"6"0, 60 ,%;06"+6% 104% %**%#6"9%&3 "* 6$%3 :,-%486+,- 6$+6 ", ",6%4#:&6:4+&
8"6:+6"0,8? ,%;06"+6048 *401 -"**%4%,6 #:&6:4%8 1+3 D+F B% :8%- 60 -"**%4%,6
740@"1+& 8"6:+6"0,+& #0,-"6"0,8? DBF $0&- -"**%4%,6 "17&"#"6 6$%04"%8 +,M:-;1%,6 B"+8%8? D#F 740#%88 ",*041+6"0, -"**%4%,6&3? D-F 7:48:% -"**%4%,6
;0+&8? 4%;:&+6% ;0+&8 -"**%4%,6&3? +,- :8% -"**%4%,6 6+#6"#8? +,- D%F 4%+#6 -"*H
*%4%,6&3 60 #0,-"6"0,8? #0;,"6"0,8? ;0+&8? +,- B%$+9"0:48? +&& 0* T$"#$ 1+3
", 6:4,? "17+#6 ,%;06"+6%- 0:6#01%8( W:46$%4104%? ;"9%, 6$+6 +87%#68 0*
#:&6:4% +4% ;%,%4+&&3 "17&"#"6? 6$%8% -"**%4%,#%8 1+3 B% 7+46"#:&+4&3 -"**"#:&6
60 4%#0;,"8% ", ",6%4#:&6:4+& ,%;06"+6"0,8( S,-%%-? +8 +4;:%- 74%9"0:8&3? "6
1+3 %9%, B% -"**"#:&6 *04 7+46"%8 ", ",6%4#:&6:4+& ,%;06"+6"0,8 60 4%#0;,"8%
T$%, 6$%3 $+9% 8"1"&+4"63 ", ;0+&8? %87%#"+&&3 "* 6$%3 +4% :8",; -"**%4%,6
6+#6"#8 60 +#$"%9% 6$%1( K0 $%&7 1+,+;%48 ,%;06"+6% 104% 8:##%88*:&&3?
#4088H#:&6:4+& 64+",",; 740;4+11%8 ,%%- 60 B% -%8";,%- 6$+6 *0#:8 0,
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

L1

6$%04%6"#+&&3 B+8%- *4+1%T04\8 T$"#$ 643 60 1+\% 6$% "17&"#"6 104% %@7&"#"6?
+,- -%&",%+6% 6$% 4%+80,8 T$3 8:#$ -"**%4%,#%8 %@"86(
S17&"#"6 ", 6$"8 +,+&38"8 "8 6$+6 ",6%4#:&6:4+& ,%;06"+6"0,8 1+3 4%8:&6 ",
104% #004-",+6"0, 740B&%18 +,- &0T%4 0:6#01%8? +8 #017+4%- 60 ",64+H
#:&6:4+& ,%;06"+6"0,8 Di4%66 p A\:1:4+? EhhjF( V0T%9%4? "6 "8 "17046+,6
60 %@+1",% 6$% #0,-"6"0,8 :,-%4 T$"#$ 8:#$ -"**%4%,#%8 +#6:+&&3 A%"%+#(
,%;06"+6048 ", ",6%4#:&6:4+& 8"6:+6"0,8( A*6%, 4%8%+4#$ +88:1%8 6$+6 ",6%4H
#:&6:4+& ,%;06"+6"0,8 +4% +&T+38 104% -"**"#:&6 +,- 4%8:&6 ", &0T%4 0:6#01%8
6$+, ",64+#:&6:4+& ,%;06"+6"0,8? 3%6 6$% 07708"6% 1+3 B% *0:,- +8 T%&&( W04
%@+17&%? ",64+#:&6:4+& ,%;06"+6"0,8 1+3 +#6:+&&3 B% 104% #017%6"6"9% +,4%8:&6 ", &0T%4 0:6#01%8 ", #:&6:4%8 $";$ 0, 1+86%43? +8 #017+4%- 60 ",6%4H
#:&6:4+& ,%;06"+6"0,8 B%6T%%, ,%;06"+6048 *401 #:&6:4%8 $";$ 0, 1+86%43 +,,%;06"+6048 *401 #:&6:4%8 $";$ 0, $+410,3( S, 6$% &+66%4 #+8%? B06$ 7+46"%8
1+3 ,06 B% %>:+&&3 8:8#%76"B&% 60 8%&*H%,$+,#%1%,6 B"+8%8 +,- #017%6"6"0,?
T$"#$ 1+3 4%8:&6 ", 104% #007%4+6"9% 740#%88%8 +,- $";$%4 0:6#01%8( S,-%%-?
_#$T+46qG8 4%8%+4#$ 1+3 +&&0T *04 104% 74%#"8% 74%-"#6"0,8 4%;+4-",; 6$%
#0,*&"#6 +,- #017&%1%,6+4"63 0* #:&6:4+& 9+&:% 637%8 ", ",6%4#:&6:4+&
,%;06"+6"0,8? +,- 6$:8? 1+3 :&6"1+6%&3 +**04- + 104% 4%*",%- :,-%486+,-",;
0* B06$ 6$% -"**"#:&6"%8 +,- *33*&(:"#(#%' *0:,- ", ",6%4#:&6:4+& ,%;06"+6"0,8(
S, #0,#&:8"0,? ", 6$% #01",; JE86 #%,6:43? + #:&6:4+& 7%487%#6"9% 0,
,%;06"+6"0, T"&& :,-0:B6%-&3 B%,%*"6 B06$ 8#$0&+48 +,- 74+#6"6"0,%48 +&"\%(
Y8 #4088H#:&6:4+& 9%,6:4%8 +4% B%#01",; ",#4%+8",;&3 7%49+8"9% ", 04;+,H
"8+6"0,8? 8640,; - 3&#*&# 6$%043 +,- 4%8%+4#$ 0, ,%;06"+6"0, "8 #4:#"+& 60 6$%
8:##%88 0* ;&0B+& B:8",%88 %,-%+90:48( e% +4% 076"1"86"# 6$+6 ", 6$% ,%@6
4%9"%T 0* #4088H#:&6:4+& ",-:864"+& +,- 04;+,"8+6"0,+& 783#$0&0;3 ", 233.#%/
E')45*.*6)Q 2" ?"(%&"-(#*"-. J%$#%D? 6$% *"%&- 0* #:&6:4% +,- ,%;06"+6"0, T"&&
$+9% +-9+,#%- #0,8"-%4+B&3? 0**%4",; 1:#$ 60 0:4 8#"%,#% +,- 74+#6"#%(

*(_"%^),&/,9,"#K$% +:6$048 6$+,\ K0-- i%6\%? V+443 K4"+,-"8? oT0\ a%:,;? 2%+, Z4:"66?
2%B4+ _$+7"40? Y&%@+,-4"+ 201",;:%q? +,- '+,+ c+9%4 *04 #011%,68 0,
%+4&"%4 9%48"0,8 0* 6$"8 1+,:8#4"76( Z046"0,8 0* 6$"8 7+7%4 T%4% 74%8%,6%- +6
6$% Ehhf #0,*%4%,#% 0* 6$% _0#"%63 *04 S,-:864"+& +,- A4;+,"q+6"0,+&
Z83#$0&0;3? _6 a0:"8(

$,3,$,"(,Y#:**? W(a( DEhh]F( >*D (* "%6*(#-(% -")(5#"6 D#(5 -")*"% -")D5%&% -&*:"/ (5% D*&./K
/%T b04\C Y!Y5A!(
Y-+"4? e(a( DEhhhF( [_ +,- '+7+,%8% 1%,6+& 10-%&8 *04 ,%;06"+6"0,( Z+7%4
74%8%,6%- +6 6$% 50,*%4%,#% 0* 6$% S,6%4,+6"0,+& Y880#"+6"0, 0* 50,*&"#6
!+,+;%1%,6? _+, _%B+86"+,? _7+",? ':,%(
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

L2

/,)3*"& *"& &4,$

Y-+18? '(_( DEh]fF( K$% 864:#6:4% +,- -3,+1"#8 0* B%$+9"04 ", 04;+,"q+6"0,
B0:,-+43 40&%8( S, !(2( 2:,,%66% DL-(F? >-"/A**L *+ #"/:'(&#-. -"/ *&6-"#R-;
(#*"-. 3')45*.*6) D77( EE]mgEEhhF( 5$"#+;0C c+,- !#/+&&3(
Y-&%4? /('( DEhhEF( ?"(%&"-(#*"-. /#9%"'#*"' *+ *&6-"#R-(#*"-. A%5-$#*& DJ,- %-,F(
i0860,C o%,6 Z:B&"8$",; 5017+,3(
Y-&%4? /('(? i4+$1? c(? p )4+$+1? '(a( DEhhJF( _64+6%;3 "17&%1%,6+6"0,C Y #01H
7+4"80, 0* *+#%H60H*+#% ,%;06"+6"0,8 ", 6$% Z%07&%G8 c%7:B&"# 0* 5$",+ +,- 6$%
[,"6%- _6+6%8( 1(&-(%6#4 ,-"-6%9%"( N*:&"-.? ST? ^^hg^ff(
Y-&%4? /('(? p )4+$+1? '(a( DEhj]F( i:8",%88 ,%;06"+6"0,8C 5+,+-"+,8 +4% ,06 M:86
&"\% Y1%4"#+,8( =-"-/#-" N*:&"-. *+ 2/9#"#'(&-(#$% 14#%"4%? 7? JEEgJlj(
Y-&%4? /('(? p )4+$+1? '(a( DEhjhF( 54088H#:&6:4+& ",6%4+#6"0,C K$% ",6%4,+6"0,+&
#017+4"80, *+&&+#3( N*:&"-. *+ ?"(%&"-(#*"-. O:'#"%'' 1(:/#%'? UV DlF? mEmgml](
Y-&%4? /('(? )4+$+1? '(a(? p )%$4\%? K(_( DEhj]F( i:8",%88 ,%;06"+6"0,8 ", 5+,+-+?
!%@"#0? +,- 6$% [_( N*:&"-. *+ O:'#"%'' J%'%-&45? SW D^F? ^EEg^Jh(
Y&&%4$%"&";%,? c(? )4+$+1? '(a(? p a",? 5Hb( DEhjmF( V0,%863 ", ",6%404;+,"q+6"0,+&
,%;06"+6"0,8 ", 6$% [,"6%- _6+6%8? '+7+,? i4+q"&? +,- 6$% c%7:B&"# 0* 5$",+(
N*:&"-. *+ ,-4&*9-&L%(#"6? W? ^gEf(
Y,+,-? c(Z( DEhjEF( =:.(:&-. +-4(*&' #" #"(%&"-(#*"-. &%.-(#*"'( /%T 2%&$"C YB",$+9(
i+#$+4+#$? _(i(? p a+T&%4? L('( DEhjEF( O-&6-#"#"6Q E*D%&0 (-4(#4'0 -"/ *:(4*9%'(
)4%%,T"#$? 5KC 'YS Z4%88(
i+q%41+,? !(V(? p 5+440&&? '(_( DEhj]F( /%;06"+604 #0;,"6"0,( J%'%-&45 #"
H&6-"#R-(#*"-. O%5-$#*&? 8? J^]gJjj(
i+q%41+,? !(V(? p /%+&%? !(Y( DEhjlF( V%:4"86"#8 ", ,%;06"+6"0,( a"1"6+6"0,8 60
%**%#6"9% -"87:6% 4%80&:6"0,( S, !(V( i+q%41+, p c('( a%T"#\" DL-8(F? G%6*(#-(;
#"6 #" *&6-"#R-(#*"'K i%9%4&3 V"&&8? 5YC _+;%(
i&+#\1+,? 5( DEhh]F( G%6*(#-(#"6 =5#"-Q =-'% '(:/#%' -"/ '(&-(%6#%'( _6 a%0,+4-8?
/_e? Y:864+&"+C Y&&%, p [,T",(
i0,-? !(V(? p W04;+8? '(Z( DEhj^F( a",\",; 7%480, 7%4#%76"0, 60 B%$+9"04 ",6%,6"0,
+#4088 #:&6:4%8C K$% 40&% 0* #:&6:4+& #0&&%#6"9"81( N*:&"-. *+ =&*'';=:.(:&-.
E')45*.*6)? SW? ll]glmJ(
i4%66? '(!(? Y-+"4? e(Y(? a%17%4%:4? Y(? A\:1:4+? K(? _$"\$"4%9? Z(? K",8&%3? 5(?
p a36&%? Y( DEhhjF( 5:&6:4% +,- M0",6 ;+",8 ", ,%;06"+6"0,( G%6*(#-(#*" N*:&"-.? S70
fEgjf(
i4%66? '(!(? p A\:1:4+? K( DEhhjF( S,6%4H +,- ",64+#:&6:4+& ,%;06"+6"0,8C [_ +,'+7+,%8% ,%;06"+6048( 24-/%9) *+ ,-"-6%9%"( N*:&"-.? 7S? ^hmgmEU(
i4:,%4? '( DEhhUF( 24(' *+ 9%-"#"6( 5+1B4"-;%C 5+1B4"-;% [,"9%48"63 Z4%88(
i:460,? o( DEhh^F( C5% A:'#"%'' 4:.(:&% #" 13-#"( i0860,C i:66%4T046$HV%",%1+,,(
5+"? 2(Y(? p 24+\%? a(L( DEhhjF( K$% B:8",%88 0* B:8",%88 ,%;06"+6"0,C Y,
",6%4#:&6:4+& 7%487%#6"9%( S, !(L( c0&0** DL-(F? =*99:"#4-(#*" )%-&A**L? JE
D77( EmlgEhUF( /%TB:43 Z+4\? 5YC _+;%(
5+17B%&&? 5()(? )4+$+1? '(a(? '0&"B%46? Y(? p !%"88,%4? V()( DEhjjF( !+4\%6",;
,%;06"+6"0,8 ", W4+,#%? )%41+,3? [o +,- 6$% [_( N*:&"-. *+ ,-&L%(#"6? WU DJF?
^hgfJ(
5+4,%9+&%? Z('( DEhjmF( _64+6%;"# #$0"#% ", 1%-"+6"0,( G%6*(#-(#*" N*:&"-.? U? ^Egmf(
5+4,%9+&%? Z('( DEhhmF( Z407%463? #:&6:4%? +,- ,%;06"+6"0,( S, c(!( o4+1%4 p 2(!(
!%88"#\ DL-8(F? G%6*(#-(#*" -' - '*4#-. 3&*4%''Q G%D (&%"/' #" (5%*&) -"/ &%'%-&45
D77( lUhglJlF( K$0:8+,- A+\8? 5YC _+;% Z:B&"#+6"0,8(
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

L5

5+4,%9+&%? Z('(? p Z4:"66? 2()( DEhhJF( /%;06"+6"0, +,- 1%-"+6"0,( 2"":-. J%$#%D *+
E')45*.*6)? 7T? mlEgmjJ(
5+4,%9+&%? Z('(? Z4:"66? 2()(? p i4"660,? _(2( DEh]hF( a00\",; 60:;$C K$% ,%;06"+604
:,-%4 #0,86"6:%,6 8:49%"&&+,#%( E%&'*"-.#() -"/ 1*4#-. E')45*.*6) O:..%(#"? W? EEjgEJE(
5$+,? 2(o(_( DEhhJF( L**%#68 0* #0,#%88"0, 7+66%4,? 4%&+6"0,8$"7 B%6T%%, ,%;06"+6048?
+,- #:&6:4% 0, ,%;06"+6"0,( [,7:B&"8$%- 1+86%4G8 6$%8"8? [,"9%48"63 0* S&&",0"8?
2%7+461%,6 0* Z83#$0&0;3(
5$+,? 2(o(_(? )%&*+,-? !('(? K4"+,-"8? V(5(? p Kq%,;? A( DEhhfF( K";$6,%88g
&008%,%88 4%9"8"6%-C _01% 74%&"1",+43 +,+&38%8 ", 6$% [_ +,- '+7+,( ?"(%&"-(#*"-.
N*:&"-. *+ E')45*.*6)? TS? EgEJ(
5$%46\0**? '(!(? p L88%4? '(o( DEh]fF( Y 4%9"%T 0* %@7%4"1%,68 ", %@7&"#"6 B+4;+",",;(
N*:&"-. *+ @<3%&#9%"(-. 1*4#-. E')45*.*6)? SU? ^f^g^jf(
50$%,? c( DEhj]F( Z40B&%18 ", ",6%4#:&6:4+& #011:,"#+6"0, ", L;376"+,gY1%4"#+,
-"7&01+6"# 4%&+6"0,8( ?"(%&"-(#*"-. N*:&"-. *+ ?"(%&4:.(:&-. J%.-(#*"'? SS? Jhg^](
50$%,? c( DEhhEF( G%6*(#-(#"6 -4&*'' 4:.(:&%'( e+8$",;60,? 25C [_ S,86"6:6% 0*
Z%+#%(
50$%,? c( DEhh]F( G%6*(#-(#*" -4&*'' 4:.(:&%'Q ?"(%&"-(#*"-. 4*99:"#4-(#*" #" -"
#"(%&/%3%"/%"( D*&./( e+8$",;60,? 25C [_ S,86"6:6% 0* Z%+#% Z4%88(
54088? '( DEhfmF( Y 6$%043 0* B+4;+",",; 740#%88( 29%&#4-" @4*"*9#4 J%$#%D? 7V?
f]gh^(
24+\%? a(? p 20,0$:%? e(Y( DEhh^F( S88:% -%9%&071%,6 +8 ,%;06"+6%- 04-%4 ",
#0,*&"#6( Z+7%4 74%8%,6%- +6 6$% +,,:+& S,6%4,+6"0,+& Y880#"+6"0, *04 50,*&"#6
!+,+;%1%,6 #0,*%4%,#%? L:;%,%? A4%;0,(
24:#\1+,? 2(? i%,60,? Y(Y(? Y&"? i(? p i+;:4? i( DEh]fF( Z40#%88 +,- #0,8%>:%,#%8
0* ",6%4,+6"0,+& ,%;06"+6"0,8( N*:&"-. *+ 1*4#-. ?'':%'? TT? fUgj](
L786%",? _(? Z+#","? c(? 2%,%8Hc+M? d(? p V%"%4? V( DEhhfF( S,-"9"-:+& -"**%4%,#%8 ",
",6:"6"9%H%@7%4"1%,6+& +,- +,+&36"#+&H4+6"0,+& 6$",\",; 863&%8( N*:&"-. *+ E%&'*";
-.#() -"/ 1*4#-. E')45*.*6)? XS DJF? lhUg^Um(
W+:4%? )(A(? p c:B",? '(t( DEhhlF( =:.(:&% -"/ "%6*(#-(#*"( /%TB:43 Z+4\C _+;%
Z:B&"#+6"0,8(
W"8$%4? c(? p [43? e( DEhjEF( P%((#"6 (* )%'Q G%6*(#-(#"6 -6&%%9%"( D#(5*:( 6#$#"6 #"K
i0860,C V0:;$60, !"**&",(
W04-? K(L(? p o4:;&+,8\"? Y(e( DEhhmF( L**%#68 0* %7"86%1"# 106"9+6"0, 0, 6$% :8%
0* +##%88"B&% #0,864:#68 ", 80#"+& M:-;1%,6( E%&'*"-.#() -"/ 1*4#-. E')45*.*6)
O:..%(#"? US DhF? hmUghfJ(
W4+,#"8? '(/(Z( DEhhEF( e$%, ", c01%u K$% %**%#68 0* #:&6:4+& +-+76+6"0, 0, ",6%4H
#:&6:4+& B:8",%88 ,%;06"+6"0,8( N*:&"-. *+ ?"(%&"-(#*"-. O:'#"%'' 1(:/#%'? UU? ^Ulg^Jh(
)%&*+,-? !('(? 5$+,? 2(? K4"+,-"8? V(5(? b+1+;:#$"? _(? p /"8$""? a( DEhhjF( K$%043
+,- %17"4"#+& +88%881%,6 0* 6$% #:&6:4+& #0,864:#6 0* 6";$6,%88g&008%,%88 ", 6$%
[_ +,- '+7+,( Z+7%4 74%8%,6%- +6 6$% Jm6$ +,,:+& #0,*%4%,#% 0* 6$% S,6%4,+6"0,+&
Y880#"+6"0, *04 54088H5:&6:4+& Z83#$0&0;3? i%&&",;$+1? e+8$",;60,(
)%&*+,-? !('(? p 5$4"86+\070:&0:? _( DEhhhF( 5:&6:4% +,- ,%;06"+604 #0;,"6"0,C
':-;1%,6 +##:4+#3 +,- ,%;06"+6"0, 740#%88%8 ", ",-"9"-:+&"86"# +,- #0&&%#6"9"86"#
#:&6:4%8( H&6-"#R-(#*"-. O%5-$#*& -"/ >:9-" Y%4#'#*" E&*4%''%'? X8 DlF? J^jgJfh(
)%&*+,-? !('(? p !#5:8\%4? 5( D*046$#01",;F( 5:&6:4%? 1%6+7$04? +,- ,%;06"+6"0,(
S, !( )+,,0, p o(a( /%T1+, DL-8(F? >-"/A**L *+ 4&*'';4:.(:&-. 9-"-6%9%"((
i0860,C i&+#\T%&&(
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

L0

/,)3*"& *"& &4,$

)%&*+,-? !('(? /"8$""? a(? 23%4? /(? V0&#01B%? o(? A$B:#$"? o(? p W:\:,0? !(
DEhhjF( 5:&6:4+& ",*&:%,#%8 0, #0;,"6"9% 4%74%8%,6+6"0,8 0* #0,*&"#6( Z+7%4
74%8%,6%- +6 6$% EE6$ +,,:+& #0,*%4%,#% 0* 6$% S,6%4,+6"0,+& Y880#"+6"0, 0*
50,*&"#6 !+,+;%1%,6? [,"9%48"63 0* !+43&+,-? [,"9%48"63 50&&%;%(
)%&*+,-? !('(? p c%+&0? Y( D", 74%88F( 50&&%#6"9"81 +,- +##0:,6+B"&"63 ", ",6%4;40:7
,%;06"+6"0,8( N*:&"-. *+ 233.#%/ E')45*.*6)K
)%04;%? '(!(? '0,%8? )(c(? p )0,q+&%q? '(Y( DEhhjF( K$% 40&% 0* +**%#6 ", #4088H
#:&6:4+& ,%;06"+6"0,( N*:&"-. *+ ?"(%&"-(#*"-. O:'#"%'' 1(:/#%'? U8 D^F? ]^hg]]J(
)&%,,? L(_(? e"61%3%4? 2(? p _6%9%,80,? o(Y( DEh]]F( 5:&6:4+& 863&%8 0* 7%48:+8"0,(
?"(%&"-(#*"-. N*:&"-. *+ ?"(%&4:.(:&-. J%.-(#*"'? S? mJgff(
)0$? i(5( DEhhfF( G%6*(#-(#"6 D#(5 (5% =5#"%'%( i400\*"%&-? dKC 2+4610:6$
Z:B&"8$",;(
)0&-1+,? Y( DEhh^F( K$% #%,64+&"63 0* nn,",;%,8%"GG 60 '+7+,%8% ,%;06"+6"0,8 +,",6%47%480,+& 4%&+6"0,8$"78C S17&"#+6"0,8 *04 [_g'+7+,%8% #011:,"#+6"0,(
?"(%&"-(#*"-. N*:&"-. *+ ?"(%&4:.(:&-. J%.-(#*"'? SZ? Jhgm^(
)4+$+1? '(a( DEhjlF( i4+q"&"+,? '+7+,%8%? +,- Y1%4"#+, B:8",%88 ,%;06"+6"0,8(
N*:&"-. *+ ?"(%&"-(#*"-. O:'#"%'' 1(:/#%'? W? ^]gmJ(
)4+$+1? '(a( DEhj^F( 5017+4"80, 0* '+7+, +,- [_ B:8",%88 ,%;06"+6"0,( ?"(%&;
"-(#*"-. N*:&"-. *+ J%'%-&45 #" ,-&L%(#"6? S? mEgfj(
)4+$+1? '(a( DEhjm+F( 54088H#:&6:4+& 1+4\%6",; ,%;06"+6"0,8C Y &+B04+6043
%@7%4"1%,6( ,-&L%(#"6 14#%"4%? 7? ElUgE^f(
)4+$+1? '(a( DEhjmBF( K$% ",*&:%,#% 0* #:&6:4% 0, 6$% 740#%88 0* B:8",%88 ,%;06"+H
6"0,8C Y, %@7&04+6043 86:-3( N*:&"-. *+ ?"(%&"-(#*"-. O:'#"%'' 1(:/#%'? S[? jEghf(
)4+$+1? '(a(? L9%,\0? a(S( p c+M+,? !(/( DEhhlF( Y, %17"4"#+& #017+4"80, 0*
_09"%6 +,- Y1%4"#+, B:8",%88 ,%;06"+6"0,8( ?"(%&"-(#*"-. N*:&"-. *+ O:'#"%''
1(:/#%'? UT? lj]g^Ej(
)4+$+1? '(a(? o"1? 2(o(? a",? 5Hb(? p c0B",80,? !( DEhjjF( i:3%4g8%&&%4
,%;06"+6"0,8 +40:,- 6$% Z+#"*"# c"1C 2"**%4%,#%8 ", *:,-+1%,6+& %@#$+,;%
740#%88%8( N*:&"-. *+ =*"':9%& J%'%-&45? SW? ^jgm^(
)4+$+1? '(a(? !",6:? Y(K(? p c0-;%48? e( DEhh^F( L@7&04+6"0,8 0* ,%;06"+6"0,
B%$+9"048 ", 6%, *04%";, #:&6:4%8 :8",; + 10-%& -%9%&07%- ", 6$% [,"6%- _6+6%8(
,-"-6%9%"( 14#%"4%? 7V? ]Ughm(
)4%%,$+&;$? a(? p 5$+71+,? 2(S( DEhhmF( '0",6 -%#"8"0, 1+\",;C K$% ",8%7+4+B"&"63
0* 4%&+6"0,8$"78 +,- ,%;06"+6"0,( S, c(!( o4+1%4 p 2(!( !%88"#\ DL-8(F?
G%6*(#-(#*" -' - '*4#-. 3&*4%''Q G%D (&%"/' #" (5%*&) -"/ &%'%-&45 D77( EffgEjmF(
K$0:8+,- A+\8? 5YC _+;% Z:B&"#+6"0,8(
V+44"8? Z(c(? p !04+,? c(K( DEh]hF( ,-"-6#"6 4:.(:&-. /#++%&%"4%'( V0:860,C ):&*
Z:B&"8$",;(
V+T438$? i(!(? p t+"#$\0T8\3? '(a( DEhjhF( 5:&6:4+& +7740+#$%8 60 ,%;06"+6"0,8C
[,-%486+,-",; 6$% '+7+,%8%( @:&*3%-" N*:&"-. *+ ,-&L%(#"6? UW? ^Ugm^(
V%48\09"68? !('( DEhmmF( =:.(:&-. -"(5&*3*.*6)K /%T b04\C o,07*(
V0*86%-%? )( DEhjUF( =:.(:&%' 4*"'%\:%"4%'Q ?"(%&"-(#*"-. /#++%&%"4%' #" D*&L &%.-(%/
$-.:%'( i%9%4&3 V"&&8? 5YC _+;% Z:B&"#+6"0,8(
V04,86%",? V(Y( DEhfmF( L**%#68 0* -"**%4%,6 1+;,"6:-%8 0* 6$4%+6 :70, ",6%47%480,+&
B+4;+",",;( N*:&"-. *+ @<3%&#9%"(-. 1*4#-. E')45*.*6)? S? JjJgJhl(
'+,08"\? c( DEhj]F( c%6$",\",; 6$% #:&6:4%H,%;06"+6"0, &",\( G%6*(#-(#*" N*:&"-.? T?
ljmglhm(
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

L7

o"1:4+? V( DEhjUF( _09"%6 +,- '+7+,%8% ,%;06"+6",; B%$+9"04C K$% 874",; Eh]]
*"8$%4"%8 6+&\8( H&A#'? U7? ^lgf](
o4+1%4? c(!(? p !%88"#\? 2(!( DEhhmF( G%6*(#-(#*" -' - '*4#-. 3&*4%''Q G%D (&%"/'
#" (5%*&) -"/ &%'%-&45( K$0:8+,- A+\8? 5YC _+;% Z:B&"#+6"0,8(
a+\0**? )(? p '0$,80,? !( DEhjUF( ,%(-35*&' D% .#$% A)( 5$"#+;0C [,"9%48"63 0*
5$"#+;0 Z4%88(
a%:,;? o( DEhj]F( _01% -%6%41",+,68 0* 4%+#6"0,8 60 740#%-:4+& 10-%&8 *04 #0,*&"#6
4%80&:6"0,C Y #4088 ,+6"0,+& 86:-3( N*:&"-. *+ E%&'*"-.#() -"/ 1*4#-. E')45*.*6)?
WT? jhjghUj(
a%T"#\"? c('(? a"66%4%4? '(Y(? !",60,? '(e(? p _+:,-%48? 2(!( DEhh^F( G%6*(#-(#*"(
i0860,C S4T",(
a%T",? o( DEhlmF( Y)"-9#4 (5%*&) *+ 3%&'*"-.#()( /%T b04\C !#)4+THV"&&(
a36&%? Y( DEhh^F( 5:&6:4% +,- ,%;06"+6"0,( [,7:B&"8$%- -"88%46+6"0,( /046$T%86%4,
[,"9%48"63? 5$"#+;0(
!#5:8\%4? 5(c( DEhh^F( S,-"9"-:+&"81H#0&&%#6"9"81 +,- 4%&+6"0,8$"78 ", -"864"B:6"9%
,%;06"+6"0,C Y, %@7%4"1%,6+& +,+&38"8( [,7:B&"8$%- -0#604+& 6$%8"8? [,"9%48"63 0*
S&&",0"8? 2%7+461%,6 0* Z83#$0&0;3(
!#5:8\%4? 5(!(? p )%&*+,-? !('( DEhh]F( Y -3,+1"# 6$%043 0* #:&6:4% +,- ,%;0H
6"+6"0,( Z+7%4 74%8%,6%- +6 6$% +,,:+& #0,*%4%,#% 0* 6$% Y#+-%13 0* !+,+;%H
1%,6? i0860,(
!+4#$? c(!( DEhjjF( C5% N-3-"%'% "%6*(#-(*&Q 1:A(.%() -"/ '(&-(%6) A%)*"/ ]%'(%&"
.*6#4( /%T b04\C o0-+,8$+ S,6%4,+6"0,+&(
!+4\:8? V(c(? p o"6+3+1+? _( DEhhEF( 5:&6:4% +,- 6$% 8%&*C S17&"#+6"0,8 *04
#0;,"6"0,? %106"0,? +,- 106"9+6"0,( E')45*.*6#4-. J%$#%D? 8Z? JJ^gJml(
!+4\:8? V(c(? o"6+3+1+? _(? p V%"1+,? c('( DEhh]F( 5:&6:4% +,- nnB+8"#GG 783#$0H
&0;"#+& 74",#"7&%8( S, L(K( V";;",8 p Y(e( o4:;&+,8\" DL-8(F? 1*4#-. 3')45*.*6)Q
>-"/A**L *+ A-'#4 3&#"4#3.%' D77( jm]ghElF( /%T b04\C ):"&*04- Z4%88(
!%8>:"6+? i(? p W4"-+? /(V( DEhhJF( 5:&6:4+& 9+4"+6"0,8 ", %106"0,8C Y 4%9"%T(
E')45*.*6#4-. O:..%(#"? SSU? E]hgJU^(
!"#$%,%4? V(Y(? d+8\%? '('(? _#$&%"**%4? _(a(? Z&+q%T8\"? '()(? p 5$+71+,? a('(
DEh]mF( W+#6048 +**%#6",; #0,#%88"0, 4+6% +,- 6$4%+6 :8+;% ", B"&+6%4+& #0,*&"#6(
1*4#*9%(&)? TZ? fJgjU(
!"&&8? '(? p 5&+4\? !(_( DEhjJF( L@#$+,;% +,- #011:,+& 4%&+6"0,8$"78( S, a( e$%%&%4
DL-(F? J%$#%D *+ E%&'*"-.#() -"/ 1*4#-. E')45*.*6) Dd0&( l? 77( EJEgE^^F( i%9%4&3
V"&&8? 5YC _+;%(
/+6&+,-8134? '(V(? p c0;,%8? '( DEhhmF( 5:&6:4%? B%$+9"04? +,- ,%;06"+6"0,
0:6#01%8C Y #017+4"80, +,- #4088H#:&6:4+& 86:-3 0* !%@"#+, +,- /04T%;"+,
,%;06"+6048( ?"(%&"-(#*"-. N*:&"-. *+ =*"+.#4( ,-"-6%9%"(? [? mgJh(
/%+&%? !(Y(? p i+q%41+,? !(V( DEhjmF( K$% %**%#68 0* *4+1",; +,- ,%;06"+604
09%4#0,*"-%,#% 0, B+4;+",",; B%$+9"048 +,- 0:6#01%8( 24-/%9) *+ ,-"-6%9%"(
N*:&"-.? UZ? l^g^h(
/%+&%? !(Y(? p /046$#4+*6? )(i( DEhhEF( i%$+9"04+& ,%;06"+6"0, 6$%043C Y *4+1%H
T04\ *04 #0,#%76:+&"q",; -3+-"# B+4;+",",;( J%'%-&45 #" H&6-"#R-(#*"-. O%5-$#*&?
ST? E^]gEhU(
Z%&60? Z('( DEhfjF( K$% -"**%4%,#%8 B%6T%%, nn6";$6GG +,- nn&008%GG 80#"%6"%8( C&-"'-4(#*"?
Y74"&? l]g^U(

! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

L8

/,)3*"& *"& &4,$

Z",\&%3? c(a(? p /046$#4+*6? )(i( DEhh^F( 50;,"6"9% ",6%474%6+6"0,8 0* #0,*&"#6C


S17&"#+6"0,8 *04 -"87:6% 740#%88%8 +,- 0:6#01%8( 24-/%9) *+ ,-"-6%9%"(
N*:&"-.? TX DEF? EhlgJUm(
Z4:"66? 2()( DEhjEF( G%6*(#-(#*" A%5-$#*&( /%T b04\C Y#+-%1"# Z4%88(
Z4:"66? 2()(? p 5+4,%9+&%? Z('( DEhhlF( G%6*(#-(#*" #" '*4#-. 4*"+.#4(( i:#\",;$+1C
A7%, [,"9%48"63 Z4%88(
Z4:"66? 2()(? p c:B",? '(t( DEhjfF( 1*4#-. 4*"+.#4(Q @'4-.-(#*"0 '(-.%9-(%0 -"/
'%((.%9%"(( /%T b04\C !#)4+THV"&&(
Z3%? a( DEhjJF( =5#"%'% 4*99%&4#-. "%6*(#-(#"6 '().%( 5+1B4"-;%? !YC A%&;%8#$&+;%4?
):,,? p V+",(
c+$"1? !(Y( DEhjlF( c%*%4%,6 40&% +,- 863&%8 0* $+,-&",; ",6%47%480,+& #0,*&"#6(
N*:&"-. *+ 1*4#-. E')45*.*6)? SU[? ]hgjf(
c+"**+? V( DEhjJF( C5% -&( -"/ '4#%"4% *+ "%6*(#-(#*"( 5+1B4"-;%? !YC i%&\,+7(
c%8,"#\? a(i(? a%9",%? '(!(? p K%+8&%3? _(2( DEhhEF( E%&'3%4(#$%' *" '*4#-..) '5-&%/
4*6"#(#*"( e+8$",;60,? 25C Y1%4"#+, Z83#$0&0;"#+& Y880#"+6"0,(
c:B",? '(t(? p i40T,? i( DEh]mF( C5% '*4#-. 3')45*.*6) *+ A-&6-#"#"6 -"/ "%6*;
(#-(#*"'( /%T b04\C Y#+-%1"# Z4%88(
c:B",? '(t(? p _+,-%4? W(L( DEhjjF( e$%, 8$0:&- T% :8% +;%,68u 2"4%#6 9%48:8
4%74%8%,6+6"9% ,%;06"+6"0,( G%6*(#-(#*" N*:&"-.? 7? lhmg^UE(
_+&+#:8%? '(e( DEhhEF( ,-L#"6 6.*A-. /%-.'Q G%6*(#-(#"6 #" (5% #"(%&"-(#*"-. 9-&L%(;
3.-4%K i0860,C V0:;$60, !"**&",(
_#$%#6%4? '(a( DEhhjF( J:''#-" "%6*(#-(#"6 A%5-$#*&Q =*"(#":#() -"/ (&-"'#(#*"K
e+8$",;60,? 25C [_ S,86"6:6% 0* Z%+#% Z4%88(
_#$T+46q? _(V( DEhhJF( [,"9%48+&8 ", 6$% #0,6%,6 +,- 864:#6:4% 0* 9+&:%8C K$%04%6"#+&
+-9+,#%8 +,- %17"4"#+& 6%868 ", JU #0:,64"%8( S, !( t+,,+ DL-(F? 2/$-"4%' #"
%<3%&#9%"(-. '*4#-. 3')45*.*6) Dd0&( Jm? 77( EgfmF( A4&+,-0? WaC Y#+-%1"# Z4%88(
_#$T+46q? _(V( DEhh^F( i%30,- ",-"9"-:+&"81I#0&&%#6"9"81C /%T #:&6:4+& -"1%,8"0,8
0* 9+&:%8( S, [( o"1? V(5( K4"+,-"8? 5( o+;"6#"B+8"? _H5( 5$0"? p )( b00, DL-8(F?
?"/#$#/:-.#'9 -"/ 4*..%4(#$#'9Q C5%*&)0 9%(5*/0 -"/ -33.#4-(#*"' D77( jmgEJJF(
K$0:8+,- A+\8? 5YC _+;% Z:B&"#+6"0,8(
_#$T+46q? _(V(? p i"&8\3? e( DEhhUF( K0T+4- + 6$%043 0* 6$% :,"9%48+& #0,6%,6 +,864:#6:4% 0* 9+&:%8C L@6%,8"0,8 +,- #4088H#:&6:4+& 4%7&"#+6"0,8( N*:&"-. *+ E%&'*";
-.#() -"/ 1*4#-. E')45*.*6)? WZ? j]jgjhE(
_$+7"4+? t(? p i+88? i(!( DEh]mF( _%66&",; 864"\%8 ", 4%+& &"*% +,- 8"1:&+6"0,8 ", /046$
Y1%4"#+ +,- -"**%4%,6 4%;"0,8 0* L:407%( N*:&"-. *+ 233.#%/ E')45*.*6)? [V? ^^fg^]E(
_$+7"40? 2(a(? p c0;,%8? '( DEhhfF( 5+, + -01",+6",; 04"%,6+6"0, %,$+,#% 6$%
",6%;4+6"9%,%88 0* ,%;06"+6%- +;4%%1%,68u G%6*(#-(#*" N*:&"-.? SU? jEghU(
_$%,\+4? A(? p c0,%,? _( DEhj]F( K$% #:&6:4+& #0,6%@6 0* ,%;06"+6"0,C K$% "17&"H
#+6"0,8 0* 5$",%8% ",6%47%480,+& ,0418( N*:&"-. *+ 233.#%/ O%5-$#*&-. 14#%"4%? UT?
JflgJ]m(
_1"6$? Z(? p _#$T+46q? _(V( DEhh]F( d+&:%8( S, '(e( i%443? !(V( _%;+&&? p 5(
o+;"6#"B+8" DL-8(F? >-"/A**L *+ 4&*'';4:.(:&-. 3')45*.*6) Dd0&( l? 77( ]]gEEjF(
/%%-$+1 V%";$68? !YC Y&&3, p i+#0,(
_1"6$? c(W( DEhjhF( G%6*(#-(#"6 D#(5 (5% 1*$#%('( i&001",;60,C S,-"+,+ [,"9%48"63 Z4%88(
_6"&&%,;%4? 5(? L7%&B+:1? !(? o%&6,%4? 2(? p c088? a( DEhhEF( K$% nn4%+#6"9%
-%9+&:+6"0,GG B+44"%4 60 #0,*&"#6 4%80&:6"0,( e04\",; 7+7%4? _6+,*04- [,"9%48"63?
Z+&0 Y&60(
! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

(')#'$*) +,$-+,(#!., %" ",/%#!*#!%"

LL

_64+q+4 ? !(2( DEhjEF( K$% _+, W4+,#"8#0 7%+#% 64%+63C 54088H#:&6:4+& %&%1%,68 ",
6$% ",6%4+#6"0, B%6T%%, 6$% Y1%4"#+,8 +,- 6$% '+7+,%8%( S, c(Z( Y,+,- DL-(F?
=:.(:&-. +-4(*&' #" #"(%&"-(#*"-. &%.-(#*"' D77( flg]fF( /%T 2%&$"C YB",$+9(
K%6&0#\? Z( DEhhJF( K$% "17+#6 0* +##0:,6+B"&"63 0, M:-;1%,6 +,- #$0"#%C K0T+4- +
80#"+& #0,6",;%,#3 10-%&( S, !( t+,,+ DL-(F? 2/$-"4%' #" %<3%&#9%"(-. '*4#-.
3')45*.*6) Dd0&( Jm? 77( llEHl]fF( /%T b04\C Y#+-%1"# Z4%88(
K$01780,? a( DEhhUF( /%;06"+6"0, B%$+9"04 +,- 0:6#01%8C L17"4"#+& %9"-%,#% +,6$%04%6"#+& "88:%8( E')45*.*6#4-. O:..%(#"? SVZ DlF? mEmgmlJ(
K$01780,? a(? p V+86"%? c( DEhhUF( _0#"+& 7%4#%76"0, ", ,%;06"+6"0,( H&6-"#R-(#*"-.
O%5-$#*& -"/ >:9-" Y%4#'#*" E&*4%''%'? 7X? hjgEJl(
K$01780,? a(? p a0%T%,86%",? )( DEhhJF( L;0#%,64"# ",6%474%6+6"0,8 0* *+"4,%88 +,",6%47%480,+& #0,*&"#6( H&6-"#R-(#*"-. O%5-$#*& -"/ >:9-" Y%4#'#*" E&*4%''%'? WS?
E]fgEh](
K$01780,? a(? Z%6%480,? L(? p o4+3? a( DEhhmF( _0#"+& #0,6%@6 ", ,%;06"+6"0,C Y,
",*041+6"0,H740#%88",; 7%487%#6"9%( S, c(!( o4+1%4 p 2(!( !%88"#\ DL-8(F?
G%6*(#-(#*" -' - '*4#-. 3&*4%''Q G%D (&%"/' #" (5%*&) -"/ &%'%-&45 D77( mglfF(
K$0:8+,- A+\8? 5YC _+;% Z:B&"#+6"0,8(
K",8&%3? 5( DEhhjF( !0-%&8 0* #0,*&"#6 4%80&:6"0, ", '+7+,%8%? )%41+,? +,- Y1%4"#+,
#:&6:4%8( N*:&"-. *+ 233.#%/ E')45*.*6)? ZT? lEfglJl(
K",8&%3? 5(? p Z"&&:6&+? !( DEhhjF( /%;06"+6",; ", 6$% [,"6%- _6+6%8 +,- V0,; o0,;(
N*:&"-. *+ ?"(%&"-(#*"-. O:'#"%'' 1(:/#%'? U8? ]EEg]Jj(
K4"+,-"8? V(5( DEh]JF( C5% -"-.)'#' *+ ':AM%4(#$% 4:.(:&%( /%T b04\C '0$, e"&%3(
K4"+,-"8? V(5( DEhjJF( 2"1%,8"0,8 0* #:&6:4+& 9+4"+6"0, +8 7+4+1%6%48 0* 04;+,"qH
+6"0,+& 6$%04"%8( ?"(%&"-(#*"-. 1(:/#%' *+ ,-"-6%9%"( -"/ H&6-"#R-(#*"? SU? EJhgEfh(
K4"+,-"8? V(5( DEhh^F( =:.(:&% -"/ '*4#-. A%5-$#*&( /%T b04\C !#)4+THV"&&(
K4"+,-"8? V(5( DEhhmF( ?"/#$#/:-.#'9 -"/ 4*..%4(#$#'9( /%T b04\C _"10, p _#$:86%4(
K4"+,-"8? V(5(? p i$+T:\? 2(Z(_( DEhh]F( 5:&6:4% 6$%043 +,- 6$% 1%+,",; 0*
4%&+6%-,%88( S, !( L4%q p Z(5( L+4&%3 DL-8(F? G%D 3%&'3%4(#$%' *" #"(%&"-(#*"-.
?^H 3')45*.*6) D77( ElgmJF( _+, W4+,#"8#0C /%T a%@",;60, Z4%88(
K4"+,-"8? V(5(? p )%&*+,-? !('( DEhhjF( 50,9%4;",; %9"-%,#% 0* $04"q0,6+& +,9%46"#+& ",-"9"-:+&"81 +,- #0&&%#6"9"81( N*:&"-. *+ E%&'*"-.#() -"/ 1*4#-.
E')45*.*6)? X7? EEjgEJj(
K:,;? c( DEhhEF( V+,-8$+\%8 +#4088 6$% 8%+C 54088H#:&6:4+& ,%;06"+6",; *04 B:8",%88
8:##%88( H&6-"#R-(#*"-. Y)"-9#4'? S8 DlF? lUg^U(
d+, t+,-6? V(W( DEh]UF( V0T 60 ,%;06"+6% ", '+7+,( >-&$-&/ O:'#"%'' J%$#%D?
G*$%9A%&BY%4%9A%&? ^mgmf(
e%"8q? '(c(? c06$B+:1? W(!(? p i&+#\B:4,? K(5( DEhj^F( K$% 783#$0&0;3 0* #0,640&
", Y1%4"#+ +,- '+7+,( 29%&#4-" E')45*.*6#'(? T8? hmmghfh(
e"&80,? _(c(? p Z:6,+1? a(a( DEhhUF( S,6%4+#6"0, ;0+&8 ", ,%;06"+6"0,( S, '(Y(
Y,-%480, DL-(F? =*99:"#4-(#*" _%-&A**L ST( /%TB:43 Z+4\? 5YC _+;%(
t+461+,? S(e( DEhhlF( Y 8\%76"#G8 9"%T( S, )(A( W+:4% p '(t( c:B", DL-8(F? =:.(:&%
-"/ "%6*(#-(#*" D77( E]gJEF( /%TB:43 Z+4\C _+;% Z:B&"#+6"0,8(

! S,6%4,+6"0,+& Y880#"+6"0, *04 Y77&"%- Z83#$0&0;3? JUUU(

Das könnte Ihnen auch gefallen