2025-05-13 Growth Committee Agenda Packet - Open Session
Growth Committee Meeting
Open Session
March 18, 2025
MINUTES - OPEN SESSION GROWTH COMMITTEE MEETING
MARCH 18, 2025 @ 12:00 P.M.
nd
2 FLOOR BOARDROOM, CITY HALL
Present: Mayor Donna Noade Reardon
Deputy Mayor John MacKenzie, Chair
Councillor Barry Ogden
Councillor Gerry Lowe
Councillor Brent Harris
Absent: Councillor Mariah Darling
Also
Present: Chief Administrative Officer B. McGovern
Commissioner Growth & Community Services A. Poffenroth
Director Growth & Community Planning D. Dobbelsteyn
Director Development & Community Standards C. McKiel
Director Community Planning & Housing P. Nalavde
Growth Manager F. Lima
Manager Housing A. Reid
Communications Officer E. White
Project Manager SJLIP K. Melvin
Administrative Assistant K. Tibbits
1. Meeting Called to Order
Deputy Mayor MacKenzie called the Growth Committee open session meeting to order.
2. Approval of Minutes
2.1 Minutes of February 4, 2025
Moved by Mayor Noade Reardon, seconded by Councillor Harris:
RESOLVED that the minutes of February 4, 2025 be approved.
MOTION CARRIED.
3. Approval of Agenda
Moved by Mayor Noade Reardon, seconded by Councillor Harris:
RESOLVED that the agenda of March 18, 2025 be approved.
MOTION CARRIED.
4. Disclosures of Conflict of Interest
No disclosures of conflict of interest.
5. Consent Agenda (Recommendation: Receive for Information)
6. Presentations / Delegations
Growth Committee Meeting
Open Session
March 18, 2025
6.1 Envision Saint John: Tariffs Update (Verbal)
A. Beckett, CEO of Envision Saint John, discussed the impending tariffs and work being undertaken
nationally, provincially and locally in response to the current environment. The threat of tariffs has
dictated a fundamental shift in the trade relationship between the U.S. and Canada. The impact to Saint
John and the region will be significant. Both the federal and provincial governments are assessing ways to
provide support for impacted sectors, businesses and displaced workers. Nationally, there have already
been layoffs in some sectors, delayed or cancelled investments, and supply chain disruptions. Locally, an
economic slowdown is expected including layoffs in some sectors, inflationary increases, impacts to
property tax revenue, energy price volatility, and potentially an increase in asylum seekers. Longer term
strategic location, transportation links, and skilled workforce are great assets to build on in this changing
landscape.
National initiatives include retaliatory tariffs, elimination of federal trade barriers, enhancements in
productivity and research funding, broadening of export markets and alignment with Europe and other
areas for export opportunities. The Federal Government may consider investments in trade enabling
infrastructure to stimulate the economy which could include local improvements to Simms Corner as a
national trade corridor and the Energy East pipeline. Provincial initiatives include the launch of a website
and webcasts with the latest tariff information which acts as a connector with the local business
community. The province is trying to broaden export markets, investing in local businesses to improve
competitiveness, considering the removal of provincial trade barriers, exploring different export markets,
and examining our natural resources such as rare minerals and natural gas.
There is also a push to buy locally, reduced procurement contracts with U.S. based suppliers, reduced
leisure travel to the U.S., and a push for domestic tourism.
Moved by Councillor Harris, seconded by Councillor Ogden:
RESOLVED that the Envision Saint John Tariffs Update, be received for information.
MOTION CARRIED.
6.2 Envision Saint John: Entrepreneurship and Business Growth
C. Wilkens, Envision Saint John, reviewed the submitted presentation entitled "Entrepreneurship and
noting that support is provided to entrepreneurs through mentorship, development of
a business plan, access to capital and its Business Retention and Expansion Program.
Moved by Councillor Harris, seconded by Councillor Lowe:
RESOLVED that the Envision Saint John Entrepreneurship and Business Growth presentation, be received
for information.
MOTION CARRIED.
7. Business Matters
7.1 General Growth Update
F. Lima, Growth Manager, provided an update on the City Market Strategic Plan including pursuing federal
and provincial funding opportunities, a targeted social media campaign to assist in filling vacancies within
the City Market, stall improvements, construction updates and recruitment of an Implementation
Manager. Key initiatives are being mapped out which include updating the governance piece, leasing and
operations, plans for future eating area, and capital projects. The City Market Strategic Plan is the
blueprint for success over the next decade.
Moved by Councillor Harris, seconded by Mayor Noade Reardon:
RESOLVED that the Growth City Market Strategic Plan verbal update, be received for information.
MOTION CARRIED.
Growth Committee Meeting
Open Session
March 18, 2025
7.2 CMHC Rental Market
A. Reid, Housing Manager, discussed the data released through CMHCs rental market survey in terms of
progress towards . Going back about three decades, 2024 is the
highest year of completions on record with 486 units completed, with apartment units comprising 85% of
those completions. 326 of these new units were built in Millidgeville and the North End areas. 2025 is on
track to be another productive year, with two major apartment projects under construction in the
Uptown. There are currently 125 affordable units under construction across the city.
Moved by Mayor Noade Reardon, seconded by Councillor Ogden:
RESOLVED that
MOTION CARRIED.
7.3 Inclusivity Campaign Presentation, SJLIP
K. Melvin, Project Manager SJLIP, commented on the next steps in
through the latest campaign The
overall goal is to develop a campaign that can be used year over year which highlights diversity, important
milestones, and observances in the community.
Moved by Mayor Noade Reardon, seconded by Councillor Ogden:
RESOLVED that the Our Region Our Home: SJLIP Inclusivity Campaign
be received for information.
MOTION CARRIED.
8. Referrals from Common Council
9. Adjournment
Moved by Councillor Lowe, seconded by Mayor Noade Reardon:
RESOLVED that the open session meeting of the Growth Committee be adjourned.
MOTION CARRIED.
The open session meeting of the Growth Committee held on March 18, 2025, was adjourned at 1:30 p.m.
DwhI /haaL99w9thw
Report DateMay 07, 2025
Meeting DateMay 13, 2025
Service AreaGrowth and Community
Services
Chair MackenizeandMembers of the Growth Committee
SUBJECT: Development Incentives Review Supplementary Report
OPEN OR CLOSED SESSION
This matter is to be discussed in Growth Committee Open Session.
AUTHORIZATION
Primary AuthorCommissioner/Dept. HeadChief Administrative Officer
Andrew ReidAmy Poffenroth/Pankaj J. Brent McGovern
Nalavde
d
RECOMMENDATION
That the Growth Committee:
1.Receive and file the Incentives Review Final Report and Presentation.
2.Recommend staff incorporate report findings into a new Large Scale
Incentive Programand Policyand consider amendments to other existing
grant programs, as applicable, and return to Growth Committee.
EXECUTIVE SUMMARY
The purpose of this report is to provide context fortheIncentives Review project
as it relates tothe Housing Accelerator Fund (HAF) Grant Agreement, other City
Grant Programsand general housing needs and demand. In 2024, the City
commissioned Parcel Economics to review existing incentive programs. The
primary focus of thisassignment wasthe Urban Development Incentive Program,
which hasnot been comprehensively reviewed since its adoption in 2016. The
scope of work also sought to determine the need for incentivesbased on financial
feasibility analysisby modelling development scenarios(Attachment 1).
PREVIOUS RESOLUTION
In 2016, Common Council first adopted the Urban Development Incentive
Program. The Program has been responsible for helping incentivize many of the
ed construction
challenges and to deliver on the smart growth goals of the Municipal Plan.
- 2 -
2022 10-year Strategic Plan directExplore the expansion of
incentive programs to promote infill development in the Primary Development
Area
On October 28, 2024, Common Council adopted the HAF Grant Program. In
November 2024, grant intake was opened through the Housing Accelerator Fund
(HAF) to promote residential development within serviced areas of the City that
aligned with the HAF Action Plan.
On March 19, 2025, Common Council amended the HAF Contribution Agreement
with CMHC, having been awarded an additional $918,000. The amended
Agreement added a new initiative (HAF Initiative 9) to develop an incentive
program that supports higher density development in core urban areas. The
additional HAF funding is flexible and does not necessarily need to be tied
toward the implementation of the new incentive program; however, the
Agreement requires the new Incentive Program be adopted prior to December
31, 2025.
STRATEGIC ALIGNMENT
Common Council has established five priorities for their 2021-2026 term.
Incentives will assist the City in increasing new construction of housing stock
appropriately.
Grow:
Population Growth
o Grow our population at a rate of 2% annually by the end of
Belong:
Livable Neighbourhoods
o Facilitate a mix of affordable housing in all of our neighbourhoods.
REPORT
Staff commissioned Parcel Economics to review current incentive programs and
assess the need for ongoing programs based on financial feasibility modelling for
several housing models: townhouse, mid-rise, high-rise (over 6 storeys), and
vacant building types. This approach was intended to avoid considering
development incentives for projects that are already viable. Modelling was also
conducted to examine the impact of modular construction, incentivizing ground
floor commercial, reimbursement of building permit fees, and provision of
affordable units. Attachment 1 Incentives Review Final Report provides these
findings and recommendations.
The primary focus of the Incentives Review looked at the existing Urban
Development Incentive Program (UDIP). As the area identified for the highest level
of density, the Central Peninsula and surrounding area remains key to
- 3 -
Anticipating the need to update the UDIP, additional HAF funding was sought to
implement a new Large Scale Incentive program. With the successful application
to CMHC, the City is now obliged to deliver that program before the end of
December, 2025. This program will incentivize high-rise development to key urban
areas of the City over a 10-year program horizon, including examining the
cost/benefits of incentivizing affordable units within large scale projects.
With the launch of the HAF Grant Program in the Fall of 2024, the City piloted new,
temporary grant streams that encouraged redevelopment of infill sites facing
construction challenges,
redevelopment within serviced areas of the City. The HAF Grant Program set to
incentivize the achievement of Housing Supply Growth Target set out in
the HAF Action Plan, with associated deadlines for developments to obtain
building permits. Staff is actively monitoring projects awarded HAF funding. Once
HAF funding is fully exhausted, the Program will need to be fully reviewed.
IƚǒƭźƓŭ 5ĻƒğƓķ ğƓķ aǒƓźĭźƦğƌ tƌğƓ Dƚğƌƭ
A Housing Needs Assessment (HNA) was completed in 2023 but a Growth Strategy
has not been undertaken since 2011. The City has experienced a recent
acceleration in population growth, especially over the past two years. From 2022-
2024 the population grew by 7.7%, or 5,606 residents.
While population has already exceeded the 2011 projection of
77,500 residents by 2031, housing completions as of end of 2024 only represented
The Growth
Strategy review project is scheduled to begin later this year.
To sustain economic growth and employment, additional housing will be needed.
neighbourhoods (Central Peninsula, Main Street West/Lower West Side, and
North End area) and 40% within suburban neighborhoods (Millidgeville, Monte
Cristo/Gault Road, and Forest Hills/Lakewood).
/ƚƓĭƌǒƭźƚƓ
consideration of grants, incentives, and
waivers for a variety of aims, including targeting incentives toward large scale
residential development that incorporates affordable housing, promoting mid-
density options that can be inherently more affordable (e.g. multiplex
townhouses), and rehabilitating existing stock and leveraging the Provincial RRAP
program.
The Incentives Review project findings are the first step toward improvements to
existing development incentive programs. The next step of the project will be the
- 4 -
crafting of policy criteria and further budgeting/financial modelling for the Large-
Scale Incentive and review of existing HAF Grant / Affordable Housing Grant
Programs. To balance the aim of creating a simple and predictable program for
developers but one that remains relevant, the program and market
trends will need to be reviewed regularly, such as on an annual basis.
While new construction generates new tax base, careful deployment of incentives
is necessary given competing municipal responsibilities and the finiteness of
municipal resources. In crafting new incentive policy, the recommendation and
financial feasibility model must also be considered alongside municipal planning
and housing goals and financial objectives set out in the Long-Term
Financial Plan.
SERVICE AND FINANCIAL OUTCOMES
Since 2016, the City has budgeted $220,000 annually toward the UDIP - Urban
Development Incentive Grant Program ($180,000) and Beautification Grant
Program ($40,000). An additional $350,000 was added in 2022 to pay for large
projects coming due, which were incentivized through the Urban Development
Incentive Grant Program. In 2025, there was an opening balance of $1.1m in the
Building Incentive Reserve and an estimated $3.5m in remaining incentive
commitments over the next seven years.
In March, 2025, the City was awarded an additional $918,000 top up to its Housing
Accelerator Fund (HAF) contribution agreement to help deliver a large-scale
incentive program. HAF funds are flexible and may be used for multiple purposes;
however, must be used by January 2, 2028. Funding for the HAF Grant Program
and Affordable Housing Grant Program has been exclusively provided through
funds obtained through the Housing Accelerator Fund and other federal
government funds.
Following the adoption of any new Large Scale Incentive Program, the intention
submit to the 2026 budgeting process.
INPUT FROM OTHER SERVICE AREAS AND STAKEHOLDERS
A Steering Committee comprised of staff from Community Planning and Housing,
Growth, Building Inspection, and the Chief Financial Officer was struck to review
and provide input into
ATTACHMENTS
Attachment 1 Saint John Development Incentives Review Final Report
Attachment 2 Saint John Development Incentives Review Presentation
Qbsdfm
Tbjou!Kpio!Efwfmpqnfou!
Jodfoujwft!Sfwjfx
Gjobm!Sfqpsu
Nbz!3-!3136
Jo!Qbsuofstijq!xjui;
Qbsdfm
2
Qbsdfm!
!
!
!
!
QSFQBSFE!GPS;
Djuz!pg!Tbjou!Kpio!
26Nbslfu!Trvbsf-!Tbjou!Kpio-!OC-!F3M!5M2!
QSFQBSFE!CZ;!
Qbsdfm!Fdpopnjdt!Jod/!
361!Vojwfstjuz!Bwfovf-!$328-!Upspoup-!Poubsjp-!N6I!4F6!
jogpAqbsdfmfdpopnjdt/dpn
527.97:.9375
Nbz!3-!3136
3135.1114
Uijt!epdvnfou!jt!bwbjmbcmf!jo!bmufsobujwf!gpsnbut!vqpo!sfrvftu/!
Dpwfs!Jnbhf;!Djuz!pg!Tbjou!Kpio/
3!
!
Qbsdfm!
!
!
!
Ubcmf!pg!Dpoufout
Fyfdvujwf!Tvnnbsz///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////2
2/1Jouspevdujpo/////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////28
3/1Fyjtujoh!'!Qbtu!Jodfoujwf!Qsphsbnt//////////////////////////////////////////////////////////////////////////////////////////////////////////2:
3/2Pwfswjfx//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////31
3/3Ijtupsz!pg!Jodfoujwft///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////31
3/4Dvssfou!Jodfoujwft//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////35
3/5Qfsgpsnbodf!pg!Dvssfou!Qsphsbnt///////////////////////////////////////////////////////////////////////////////////////////////////38
4/1Jodfoujwf!Dbtf!Tuvejft///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////49
4/2Pwfswjfx//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////4:
5/1Nbslfu!Tpvoejoh!Joufswjfxt//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////61
5/2Pwfswjfx//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////62
5/3Fnfshjoh!Uifnft!//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////!62
6/1Gjobodjbm!Gfbtjcjmjuz!/////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////!6:
6/2Pwfswjfx!//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////!71
6/3Qbsbnfufst///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////71
6/4Joqvut////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////72
6/5Bttvnqujpot!'!Mjnjubujpot////////////////////////////////////////////////////////////////////////////////////////////////////////////////75
6/6Gjobodjbm!Gfbtjcjmjuz!Cbtjdt/////////////////////////////////////////////////////////////////////////////////////////////////////////////////75
6/7Cbtfmjof!Gjobodjbm!Gfbtjcjmjuz/////////////////////////////////////////////////////////////////////////////////////////////////////////////7:
6/8Tvnnbsz!pg!Cbtfmjof!Sftvmut////////////////////////////////////////////////////////////////////////////////////////////////////////////87
6/9Tfotjujwjuz!Bobmztjt//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////88
7/1Jodfoujwft!Bobmztjt//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////91
7/2Pwfswjfx!//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////!92
7/3Jodfoujwft!/////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////!92
4!
!
Qbsdfm!
!
!
!
7/4Sftvmut!//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////!93
7/5Bggpsebcmf!Vojut//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////99
8/1Jnqbdu!po!Nvojdjqbm!Gjobodft//////////////////////////////////////////////////////////////////////////////////////////////////////////////////:4
8/2Pwfswjfx//////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////:5
8/3Jnqbdu!po!Nvojdjqbm!Gjobodft//////////////////////////////////////////////////////////////////////////////////////////////////////////:5
8/4Dbquvsjoh!Dibohf!'!Qsphsbn!Sfwjfx/////////////////////////////////////////////////////////////////////////////////////////////:7
9/1Dpodmvtjpot!'!Sfdpnnfoebujpot////////////////////////////////////////////////////////////////////////////////////////////////////////////:9
Bqqfoejy!B;!Qsp!Gpsnb!Joqvu!Bttvnqujpot/////////////////////////////////////////////////////////////////////////////////////////////////211
5!
!
Qbsdfm!
!
!
!
Ubcmf!pg!Gjhvsft
Gjhvsf!FT!2/!3!Hsbou!Gvoejoh!cz!Qsphsbn!boe!Hfphsbqiz!)3127.3133*//////////////////////////////////////////////////////4
Gjhvsf!FT!2/!4!Ipvtjoh!Uzqpmphjft!Dpotjefsfe!gps!Gjobodjbm!Gfbtjcjmjuz!Uftujoh////////////////////////////////////////7
Gjhvsf!FT!2/!5!Tvnnbsz!pg!Cbtfmjof!Gjobodjbm!Gfbtjcjmjuz////////////////////////////////////////////////////////////////////////////////7
Gjhvsf!FT!2/!6!Jodfoujwf!Eftdsjqujpot/////////////////////////////////////////////////////////////////////////////////////////////////////////////////:
Gjhvsf!FT!2/!7!Dptut!up!Qspwjef!Gjobodjbm!Jodfoujwft//////////////////////////////////////////////////////////////////////////////////////23
Gjhvsf!FT!2/!8!Ftujnbufe!Ujnf!up!Sfdpvq!Jodfoujwft!wjb!Qspqfsuz!Uby!Sfwfovft//////////////////////////////////////24
Gjhvsf!3/2!Ijtupsjdbm!'!Dvssfou!Jodfoujwf!Qsphsbnt!Pggfsfe!cz!Djuz!pg!Tbjou!Kpio///////////////////////////////////32
Gjhvsf!3/3!Ijtupsjdbm!Hsbou!Pggfst!cz!Evsbujpo!jo!uif!Djuz!pg!Tbjou!Kpio/////////////////////////////////////////////////////34
Gjhvsf!3/4!Dvssfou!Hsbou!Qsphsbnt!Pggfsfe!cz!uif!Djuz!pg!Tbjou!Kpio////////////////////////////////////////////////////////35
Gjhvsf!3/5!Qspkfdu!boe!Voju!Dpvou!cz!Hfphsbqiz-!3127.3133/////////////////////////////////////////////////////////////////////39
Gjhvsf!3/6!Hsbou!Gvoejoh!cz!Qsphsbn!boe!Hfphsbqiz!)3127.3133*//////////////////////////////////////////////////////////3:
Gjhvsf!3/7!Bwfsbhf!Hsbou!qfs!Voju!cz!Qsphsbn//////////////////////////////////////////////////////////////////////////////////////////////42
Gjhvsf!3/8!Sftjefoujbm!Efotjuz!Hsbou!Gvoejoh!cz!Qsphsbn!Bsfb-!3127.3133////////////////////////////////////////////43
Gjhvsf!3/9!Tibsf!pg!Vojut!Dpnqmfufe!cz!Hsbou!Qsphsbn//////////////////////////////////////////////////////////////////////////////44
Gjhvsf!3/:!Ipvtjoh!Tubsut!jo!Tbjou!Kpio!cz!Tvqqpsu!Tubuvt-!3127.3133//////////////////////////////////////////////////////45
Gjhvsf!3/21!!Bttfttfe!Wbmvft!pg!Tfmfdufe!Qspkfdut!Qsf.Dpotusvdujpo!Pof!Zfbs!Bgufs!Dpnqmfujpo!/////////!46
Gjhvsf!3/22!!Jodsfbtf!jo!Qspqfsuz!Uby!Qbzbcmf!boe!Hsbou!Qbzcbdl!Qfsjpe!gps!Tfmfdufe!Qspkfdut!////////////!47
Gjhvsf!4/2!Npodupo!Epxoupxo!Dpnnvojuz!Jnqspwfnfou!Qmbo!Ejtusjdut!///////////////////////////////////////////////////!4:
Gjhvsf!4/3!Dibsmpuufupxo!Uby!Jodfoujwf!Tusbufhz!////////////////////////////////////////////////////////////////////////////////////////////!52
Gjhvsf!4/4!Dibsmpuufupxo!Epxoupxo!Dpsf!Bsfb!Nbq///////////////////////////////////////////////////////////////////////////////////53
Gjhvsf!4/5!Ibmjgby!Dpotfswbujpo!Hsbou!Ejtusjdut//////////////////////////////////////////////////////////////////////////////////////////////54
Gjhvsf!4/6!Mfuicsjehf!Ubshfufe!Sfefwfmpqnfou!Jodfoujwf!Qsphsbn/////////////////////////////////////////////////////////55
Gjhvsf!4/7!Ptibxb!Jodsfbtfe!Bttfttnfou!Hsbou!Qsphsbn!Qbzpvu//////////////////////////////////////////////////////////////57
Gjhvsf!4/8!Ptibxb!Vscbo!Hspxui!Dfousf!DJQ!Tfdpoebsz!Qmbo!Bsfb///////////////////////////////////////////////////////////58
Gjhvsf!6/2!Ipvtjoh!Uzqpmphjft!Dpotjefsfe!gps!Gjobodjbm!Gfbtjcjmjuz!Uftujoh/////////////////////////////////////////////72
Gjhvsf!6/3!Cvjmu!Gpsn-!Sfwfovf!'!Dptu!Bttvnqujpot////////////////////////////////////////////////////////////////////////////////////74
Gjhvsf!6/4!Uif!ÆTxffu!TqpuÇ!gps!Tvddfttgvm!Efwfmpqnfou!Qspkfdut/////////////////////////////////////////////////////////////76
Gjhvsf!6/5!Cbtjd!Tusvduvsf!pg!Gjobodjbm!Gfbtjcjmjuz///////////////////////////////////////////////////////////////////////////////////////////77
Gjhvsf!6/6!Qsp!Gpsnb!Vtf!Dbtft///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////79
Gjhvsf!6/8!Ftujnbufe!JSS!'!FNy!cz!Uzqpmphz!'!Ufovsf////////////////////////////////////////////////////////////////////////////////83
Gjhvsf!6/9!Ftujnbufe!Zjfme!cz!Uzqpmphz!)Sfoubm!Ufovsf!Pomz*!/////////////////////////////////////////////////////////////////////!85
Gjhvsf!6/:!Tvnnbsz!pg!Cbtfmjof!Gjobodjbm!Gfbtjcjmjuz!////////////////////////////////////////////////////////////////////////////////////!86
Gjhvsf!6/21!Jnqbdu!pg!Npevmbs!Dpotusvdujpo!po!JSS!boe!FNy!//////////////////////////////////////////////////////////////////////!89
6!
!
Qbsdfm!
!
!
!
Gjhvsf!6/22!Jnqbdu!pg!Sfubjm!0!Dpnnfsdjbm!Sfrvjsfnfou!po!JSS!boe!FNy!//////////////////////////////////////////////////!8:
Gjhvsf!7/2!Jodfoujwf!Eftdsjqujpot!/////////////////////////////////////////////////////////////////////////////////////////////////////////////////////!92
Gjhvsf!7/3!Jodfoujwft!Bobmztjt!Tvnnbsz//////////////////////////////////////////////////////////////////////////////////////////////////////////93
Gjhvsf!7/4!Npevmbs!Dpotusvdujpo!Hsbou!Sfrvjsfnfou!qfs!Voju////////////////////////////////////////////////////////////////////94
Gjhvsf!7/5!Sfubjm!0!Dpnnfsdjbm!Tqbdf!Hsbou!qfs!Hsptt!Trvbsf!Gppu//////////////////////////////////////////////////////////95
Gjhvsf!7/6!Vqgspou!Hsbou!Bnpvou!Sfrvjsfe!gps!Ijhi.Sjtf!Sfoubm!up!21&!JSS////////////////////////////////////////////97
Gjhvsf!7/8!Vqgspou!Hsbou!Bnpvou!Sfrvjsfe!gps!Wbdbou!Cvjmejoh!Sfoubm!up!Bdijfwf!21&!JSS//////////////////98
Gjhvsf!7/9!Vqgspou!Hsbou!Bnpvou!Sfrvjsfe!up!Bdijfwf!21&!JSS!cz!SSBQ!211&!NNS////////////////////////////99
Gjhvsf!7/:!Tvctjez!Sfrvjsfe!gps!Bggpsebcmf!Ipvtjoh!Vojut!jo!Nje.Sjtf!Sfoubm!Efwfmpqnfou/////////////////:2
Gjhvsf!7/21!Tvctjez!Sfrvjsfe!gps!Bggpsebcmf!Ipvtjoh!Vojut!jo!Ijhi.Sjtf!Sfoubm!Efwfmpqnfou/////////////:2
Gjhvsf!8/2!Dptut!up!Qspwjef!Gjobodjbm!Jodfoujwft////////////////////////////////////////////////////////////////////////////////////////////:5
Gjhvsf!8/3!Ftujnbufe!Ujnf!up!Sfdpvq!Jodfoujwft!wjb!Qspqfsuz!Uby!Sfwfovft////////////////////////////////////////////:7
Gjhvsf!B/!2!Qsp!Gpsnb!Joqvu!Bttvnqujpot////////////////////////////////////////////////////////////////////////////////////////////////////212
Gjhvsf!B/!3!Qsp!Gpsnb!Bttvnqujpot!dpoujovfe///////////////////////////////////////////////////////////////////////////////////////////213
7!
!
Qbsdfm!
!
!
!
Fyfdvujwf!Tvnnbsz
Dpoufyu!'!Qvsqptf
Bddfmfsbujoh!qpqvmbujpo!hspxui!jo!Tbjou!Kpio!ibt!dpnf!xjui!b!sbohf!pg!dibmmfohft!jo!uif!ipvtjoh!nbslfu-!bt!
mpdbm!cvjmefst0efwfmpqfst!tusvhhmf!up!lffq!vq!xjui!jodsfbtfe!efnboe!boe!sjtjoh!qsjdft!ibwf!mfgu!tpnf!
sftjefout!cfijoe/
Uif!Djuz!pg!Tbjou!Kpio!jefoujgjfe!uif!jnqpsubodf!pg!jodfoujwft up!beesftt!uiftf!ipvtjoh!dibmmfohft!bt!qbsu!
pg!jut!3133!Bggpsebcmf!Ipvtjoh!Bdujpo!Qmbo/!Jodfoujwft!ibwf!uif!qpufoujbm!up!vompdl!ipvtjoh!tvqqmz!uibu!nbz!
opu!cf!gjobodjbmmz!wjbcmfup!efwfmpqbt!xfmm!bt!up!bewbodf!nvojdjqbm!qpmjdz!pckfdujwft!)f/h/-!npevmbs!
ipvtjoh-!njyfe.vtf!efwfmpqnfou-!fud/*/
Uijt!tuvez!jt!joufoefe!up!bttjtu!uif!Djuz!jo!cfuufs!voefstuboejoh!ipx!uif!dvssfou!tvjuf!pg!ipvtjoh!jodfoujwft!
jt!nffujoh!Djuz!hpbmt!pg!efmjwfsjoh!npsf!ipvtjoh!boe!xifuifs!ofx!jodfoujwft!bsf!sfrvjsfe!up!jodsfbtf!uif!
tvqqmz!pg!ipvtjoh!jo!uif!nvojdjqbmjuz-!jodmvejoh!bggpsebcmf!ipvtjohpqujpot/
Fyjtujoh!'!Qbtu!Jodfoujwf!Qsphsbnt!
Uif!dpnnvojuz!pg!Tbjou!Kpio!ibt!b!mpoh!ijtupsz!pg!pggfsjoh!gjobodjbm!jodfoujwft!bt!b!nfbot!pg!fodpvsbhjoh!
qsjwbuf!jowftunfou!uibu!tvqqpsut!uif!dsfbujpo!pg!ofx-!nbslfu!sbuf-!sftjefoujbm!boe!opo.sftjefoujbm!
efwfmpqnfout!up!bewbodf!qvcmjd!qpmjdz!hpbmt!ps!qsjpsjujft/!Uiftf!qsphsbnt!ibwf!cffo!ubshfufe!up!bdijfwf!b!
xjef!sbohf!pg!hpbmt!boe!buusbdu!jowftunfou!joufsftu!gspn!b!wbsjfuz!pg!ejggfsfou!hspvqt-!xjui!wbszjoh!efhsfft!
pg!vqublf/!Voefstuboejoh!xibu!jodfoujwft!ibwf!cffo!ijtupsjdbmmz!pggfsfe!jt!jnqpsubou!jo!qspwjejoh!dpoufyu!
gps!dvssfou!boe!qpufoujbm!gvuvsf!jodfoujwf!qsphsbnt/!
Dvssfou!Jodfoujwft
Uif!Djuz!pg!Tbjou!Kpio!dvssfoumz!pggfst!uxp!qsjnbsz!jodfoujwft!gps!efwfmpqjoh!beejujpobm!dpnnvojuz!ipvtjoh;!
uif!Vscbo!Efwfmpqnfou!Jodfoujwf!Qsphsbn boe!Dpotusvdujpo!Dibmmfohft!Hsbou/!Uif!qvsqptf!pg!uif!
dvssfou!jodfoujwft!jt!up!fodpvsbhf!uif!dsfbujpo!pg!ofx!sftjefoujbm!vojut!jo!Tbjou!KpioÉt!ftubcmjtife!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!2!!
Qbsdfm!
!
!
!
ofjhicpvsippet!jo!uif!Dfousbm!Qfojotvmb-!xijdi!jodmveft!uif!Vqupxo-!Tpvui!Foe-!boe!Xbufsmpp!Wjmmbhf!
ofjhicpvsippet/!
Gjhvsf!FT!2/!2
Dvssfou!Hsbou!Qsphsbnt!Pggfsfe!cz!uif!Djuz!pg!Tbjou!Kpio
Vscbo!Efwfmpqnfou!Jodfoujwf!Qsphsbn
Jogjmm!Qspkfdut
Dpotusvdujpo!Dibmmfohft!Hsbou
Wbdbou!Cvjmejoht
Vqqfs!Gmppst
Tpvsdf;!Qbsdfm-!cbtfe!po!ebub!qspwjefe!cz!uif!Djuz!pg!Tbjou!Kpio/!
Qfsgpsnbodf!pg!Dvssfou!Qsphsbnt!
Uif!wbtu!nbkpsjuz!pg!hsbou!gvoejoh!ibt!cffo!qspwjefe!uispvhi!uif!Sftjefoujbm!Efotjuz!Hsbou!)8:&*-!xjui!uif!
cbmbodf!qspwjefe!uispvhi!uif!Dpotusvdujpo!Dibmmfohft!Hsbou/!Xjuijo!uif!Sftjefoujbm!Efotjuz!Hsbou!
qsphsbn-!uif!nbkpsjuz!pg!gvoejoh!xbt!qspwjefe!up!tvqqpsu!uif!Jogjmm!qsphsbn!)92&*-!wfstvt!uif!Vqqfs!Gmppst!
):&*!boe!Wbdbou!Cvjmejoh!qsphsbnt!)21&*/
Hsbou!gvoejoh!ibt!cffohfphsbqijdbmmz!ejtqfstfe-!xjui!uif!mbshftu!tibsf!tvqqpsujoh!qspkfdut!jo!uif!Vqupxo!
ofjhicpvsippe/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!3!!
Qbsdfm!
!
!
!
Gjhvsf!FT!2/!3!
Hsbou!Gvoejoh!cz!Qsphsbn!boe!Hfphsbqiz!)3127.3133*
Hsbou!Bnpvou
%2-711-111
Dpotusvdujpo!Dibmmfohft!HsbouSftjefoujbm!Efotjuz!Hsbou
%2-511-111
%2-311-111
%2-111-111
%:7:-375!
%911-111
%711-111
%92:-788!
%511-111
%6:7-649!
%556-683!
%311-111
%245-173!
%73-134!
%1
Tpvui!FoeVqupxoXbufsmpp!Wjmmbhf
Hfphsbqiz
Tpvsdf;!Qbsdfm-!cbtfe!po!ebub!qspwjefe!cz!uif!Djuz!pg!Tbjou!Kpio/!
Po!bwfsbhf-!gvoejoh!uispvhi!hsbou!qsphsbnt!tvqqpsufe!5/:&!pg!uif!ftujnbufe!upubm!dpotusvdujpo!wbmvf!pg!
uif!qspkfdut!tvswfzfe/!Xijmf!uif!npofz!hfofsbufe!gspn!uiftf!qsphsbnt!jt!bo!jnqpsubou!tpvsdf!pg!tvqqpsu-!
uif!mfwfm!pg!gvoejoh!qspwjefe!xbt!vomjlfmz!up!ibwf!cffo!uif!tpmf!gbdups!qvtijoh!boz!qspkfdu!gspn!gjobodjbmmz!
vogfbtjcmf!up!gfbtjcmf/
Uif!upubm!wbmvf!pg!hsbout!qspwjefe!up!uif!tvswfzfe!qspkfdut!upubmmfe!kvtu!pwfs!%3!njmmjpo-!xijmf!uif!jodsfbtfe!
qspqfsuz!uby!sfwfovf!sfdfjwfe!gspn!uif!tfmfdufe!qspkfdut!pof!zfbs!bgufs!fbdi!xbt!dpnqmfufe!upubmt!bmnptu!
%786-111/!Jo!bhhsfhbuf-!uif!Djuz!pg!Tbjou!Kpio!xpvme!hfofsbuf!tvggjdjfou!sfwfovft!gspn!uiftf!qspkfdut!up!
dpwfs!uif!wbmvf!pg!uif!jojujbm!hsbou!pvumbz!jo!kvtu!uisff!zfbst/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!4!!
Qbsdfm!
!
!
!
Jodfoujwf!Dbtf!Tuvejft!
Gjwf!nvojdjqbmjujft!xfsf!tfmfdufebt!dbtf!tuvejft!gps!jodfoujwft!uif!Djuz!pg!Tbjou!Kpio!dpvme!dpotjefs;
Npodupo-!Ofx!Csvotxjdl
Dibsmpuufupxo-!Qsjodf!Fexbse!Jtmboe
Ibmjgby-!Opwb!Tdpujb
Mfuicsjehf-!Bmcfsub
Ptibxb-!Poubsjp
Uiftf!nvojdjqbmjujft!bsf!dpnqbsbcmfup!Tbjou!Kpio!jo!pof!xbz!ps!bopuifs-!xifuifs!uifz!tibsf!b!hfphsbqijdbm!sfhjpo!
jo!uif!Nbsjujnft)Npodupo-!Dibsmpuufupxo-!Ibmjgby*-!ibwf!b!tjnjmbs!qpqvmbujpo!tj{f)Mfuicsjehf*-!ps!bsf!bo!bsfb!uibu!
Tbjou!Kpio!dpvme!tppo!hspx!joup!boe!sfqmjdbuf)Ptibxb*/!Fbdi!nvojdjqbmjuzxbtfybnjofe!gps!uifjs!efwfmpqnfou!
jodfoujwft!pggfsfe-!ipx!gvoejoh!jt!pcubjofe!boe!vujmj{fe-!boe!ipx!uifz!efgjof!bggpsebcmf!ipvtjoh-!xifsf!bwbjmbcmf/
Nbslfu!Tpvoejoh!Joufswjfxt
Qbsdfm!dpoevdufe!23!nbslfu!tpvoejoh!joufswjfxt!xjui!cvjmefst-!efwfmpqfst-!opo.qspgjut-!boe!mfoefst!bdujwf!
jo!uif!Djuz!pg!Tbjou!Kpio!up!hfu!b!cfuufs!voefstuboejoh!pg!xiz!fyjtujoh!boe!qbtu!jodfoujwf!qsphsbnt!
pggfsfe!cz!uif!Djuz!ibwf!ps!ibwf!opu!cffo!vtfe!jo!uif!efmjwfsz!pg!ofx!ipvtjoh/!!
Uif!qvsqptf!pg!uiftf!joufswjfxt!ibt!bmtp!cffo!up!dbquvsf!Æpo.uif.hspvoeÇ!sfbmjujft!pg!efwfmpqnfou!jo!uif!
djuz!boe!ipx!fyjtujoh!boe!qbtu!jodfoujwf!qsphsbnt!ibwf!jnqbdufe!uif!gjobodjbm!wjbcjmjuz!pg!efwfmpqnfou
jo!Tbjou!Kpio/!Vmujnbufmz!uiftf!joqvut!ibwf!ifmqfejefoujgz!fyjtujoh!dibmmfohft!gbdjoh!uif!efwfmpqnfou!
dpnnvojuz boe!jg!uifsf!bsf!jodfoujwft!uibu!dpvme!cf!cfofgjdjbm!jo!tujnvmbujoh!ofx!ipvtjoh!efwfmpqnfou/!
Lfz!ublfbxbzt!gspn!uif!joufswjfxt!jodmvef;
Uifsf!jt!jodsfbtjoh!efnboe!gps!ijhifs.efotjuz!ipvtjoh!boe!bggpsebcmf!ipvtjohjo!Tbjou!Kpio
Efwfmpqnfou!dibmmfohft!jodmvef!ijhi!joufsftu!sbuft!boe!sjtjoh!dpotusvdujpo!dptut-!b!mjnjufe!qppm!pg!
usbeft-!b!mbdl!pg!rvbmjuz0efwfmpqnfou.sfbeztjuft!)f/h/-!txbnqz!boe!spdlztjuft*-!boe!bo!jodsfbtjoh!
qspqfsuz!uby!sfhjnf/
Fyjtujoh!jodfoujwft!xfsf!tffo!bt!ifmqgvm!gps!efwfmpqnfou!boe!uif!bqqmjdbujpo!qspdftt!xbt!hfofsbmmz!
tnppui/!Ipxfwfs-!npsf!dpvme!cf!epof!up!qspnpuf!uif!bwbjmbcjmjuz!pg!jodfoujwft/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!5!!
Qbsdfm!
!
!
!
Ofx!jodfoujwft!tipvme!gpdvt!po!qspwjejoh!vqgspou!gvoejoh-!gvoejoh!gps!eftjsfe!pvudpnft!)f/h/-!
bggpsebcmf!vojut-!bddfttjcmf!vojut-!npevmbs!vojut*-!ps!mpohfs.ufsngvoejoh!uispvhi!qspqfsuz!uby!
fyfnqujpot!boe0ps!uby!jodsfnfou!frvjwbmfou!hsbout/
Gjobodjbm!Gfbtjcjmjuz
Qbsdfm!voefsuppl!b!gjobodjbm!gfbtjcjmjuz!bobmztjt!pg!ejggfsfou!qspupuzqjdbm!ipvtjoh!uzqpmphjft!jo!Tbjou!Kpio/!
Uif!qvsqptf!pg!uijt!bobmztjt!xbt!up!efufsnjof!xifuifs!dfsubjo!uzqft!pg!ipvtjoh!bsf!mjlfmz!gjobodjbmmz!wjbcmf!
cbtfe!po!dvssfou!nbslfu!dpoejujpot!)j/f/-!bsf!uifz!gjobodjbmmz!wjbcmf!xjuipvu!jodfoujwft!boe!up!xibu!fyufou@*/!
Uif!sftvmut!pg!uijt!cbtfmjof!bobmztjt!xjmm!cf!vtfe!up!fwbmvbuf!uif!offe!gps!jodfoujwft!boe!uif!jnqbdu!uibu!
jodfoujwft!dpvme!ibwf!po!jodsfbtjoh!gjobodjbm!wjbcjmjuz!up!fodpvsbhf!uif!dsfbujpo!pg!ofx!ipvtjoh!jo!Tbjou!
Kpio/
Ipvtjoh!Uzqpmphjft
Qbsdfm-!jo!dpmmbcpsbujpo!xjui!uif!Djuz!pg!Tbjou!Kpio!Tubgg-!efwfmpqfe!qspupuzqft!gps!uif!gpmmpxjoh!ipvtjoh!
uzqpmphjft;
Upxoipvtft
Nje.Sjtf!Nvmuj.Voju!)vq!up!7!tupsfzt*
Ijhi.Sjtf!Nvmuj.Voju!)vq!up!23!tupsfzt*!
Wbdbou!Cvjmejoht!)Sfopwbujpo*!
Gjobodjbm!wjbcjmjuz!pg!fbdi!uzqpmphz!xbt!uftufe!po!b!djuz.xjef!cbtjtgps!ejggfsfou!ufovsft!)pxofstijq!wt/!
sfoubm*-!xifsf!bqqspqsjbuf/!Gps!fybnqmf-!upxoipvtft!xfsf!pomz!uftufe!bt!pxofstijq!vojut-!bt!qvsqptf.cvjmu!
sfoubm!upxoipvtft!bsf!vodpnnpo!)uipvhi!upxoipvtft!nbz!cf!sfoufe!po!uif!tfdpoebsz!sfoubm!nbslfu*/!
Dpowfstfmz-!uifuisff.voju!wbdbou!cvjmejoh!qspupuzqf!xbt!pomz!uftufe!bt!sfoubm!bt!ju!jt!vodpnnpo!up!ibwf!
nvmuj.voju!pxofstijq!xjui!tvdi!gfx!vojut/Xf!bmtp!opuf!uibu!dfsubjo!uzqpmphjft!bsf!npsf!mjlfmz!up!cf!
qspqptfe!0!fodpvsbhfe!jo!ejggfsfou!bsfbt!pg!uif!djuz/!Gps!fybnqmf-!ofx!upxoipvtf!efwfmpqnfou!njhiu!cf!
vodpnnpo!jouif!Dfousbm!Qfojotvmb!evf!up!uifjs!sfmbujwfmz!mpx!efotjuz!dpnqbsfe!up!fyjtujoh!boe!qspqptfe!
efwfmpqnfou!jo!uif!bsfb/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!6!!
Qbsdfm!
!
!
!
Gjhvsf!FT!2/!4!
Ipvtjoh!Uzqpmphjft!Dpotjefsfe!gps!Gjobodjbm!Gfbtjcjmjuz!Uftujoh
UpxoipvtfNje.SjtfIjhi.SjtfWbdbou!Cvjmejoh
Xppe!Gsbnf!Vq!up!4!TupsfztXppe!Gsbnf!Vq!up!7!TupsfztDpodsfuf!Vq!up!23!TupsfztSfopwbujpo
21!vojut61!vojut261!vojut4!vojut
!0!!0!
!Pxofstijq
!Sfoubm
Tpvsdf;!Qbsdfm/
Gjhvsf!FT!2/!5tvnnbsj{ft!uif!sftvmut!pg!pvs!cbtfmjof!bobmztft-!bttjhojoh!b!mjlfmjippe!pg!fbdi!uzqpmphz!
cfjoh!dpotjefsfe!wjbcmfÅps!gjobodjbmmz!gfbtjcmfÅcz!qsptqfdujwf!efwfmpqfst/!
Gps!uif!qvsqptft!pg!uijt!tvnnbsz-!xf!ibwf!dpotjefsfe!b!dpncjobujpo!pg!uif!lfz!sfuvso!nfusjdt!jefoujgjfe!
bcpwf!up!bttjho!mjlfmjippe!pg!gfbtjcjmjuz!cbtfe!po!uif!gpmmpxjoh!dbufhpsjft;Æ jogfbtjcmf Ç-!Æ vomjlfmz Ç-!ps!
Æ qpttjcmf Ç/!Xf!opuf!uibu!fwfo!uiptf!dbufhpsj{fe!bt!tipxjoh!tpnf!qspnjtf!pg!gfbtjcjmjuz!bsf!opuofdfttbsjmz
b!tvsf!cfu!boe!dbo!fbtjmz!gjoe!uifjs!gjobodjbm!gfbtjcjmjuz!fspefe!cz!b!nvmujuvef!pg!gbdupst-!jodmvejoh
pwfsqbzjoh!gps!mboe-!ijhifs!uibo!fyqfdufe!dpotusvdujpo!boe!tjuf!tfswjdjoh!dptut!boe0ps!dpotusvdujpo!dptu!
hspxui-!xfblfs!uibo!fyqfdufe!qvsdibtfs!efnboe-!ps!b!dpncjobujpo!pg!boz0bmm!pg!uiftf!wbsjbcmft/!!
Gjhvsf!FT!2/!5
Tvnnbsz!pg!Cbtfmjof!Gjobodjbm!Gfbtjcjmjuz
Upxoipvtft.Pxofstijq
Nje.Sjtf!.Pxofstijq
Nje.Sjtf!.Sfoubm
!Ijhi.Sjtf!Ä!Pxofstijq!
!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!7!!
Qbsdfm!
!
!
!
!
Ijhi.Sjtf!.Sfoubm
Wbdbou!Cvjmejoh!.Sfoubm
Jogfbtjcmf!!!!!Vomjlfmz!!!!Qpttjcmf
Tpvsdf;!Qbsdfm/
Cbtfe!po!uif!qsfdfejoh!bobmztjt-!xf!ibwf!jefoujgjfe!uif!gpmmpxjoh!lfz!gjoejoht!bt!ju!sfmbuft!up!uif!qpufoujbm!
gps!gjobodjbm!jodfoujwft;
Dpoepnjojvn!Bqbsunfou!Jodfoujwft ÄUifsf!ibwf!cffo!wfsz!gfx!ofx!pxofstijq!dpoepnjojvn!
bqbsunfou!cvjmejoht!efwfmpqfe!jo!Tbjou!Kpio!jo!sfdfou!zfbst/!Uif!mbdl!pg!ofx!efwfmpqnfou!ibt!nbef!ju!
dibmmfohjoh!up!efufsnjof!uif!Ænbslfu!qsjdfÇ!gps!ofx!vojut!jo!uif!qsp!gpsnb!bobmztjt-!bt!ju!jt!opu!dmfbs!
xibu!qsjdf!uif!nbslfu!xjmm!bddfqu/!Gvsuifsnpsf-!vodfsubjouz!bspvoe!uif!nbslfu!efnboe!gps!pxofstijq!
dpoepnjojvn!bqbsunfou!vojut!dpvme!sftvmu!jo!tpnf!efwfmpqfst!gbwpvsjoh!qvsqptf.cvjmu!sfoubm!
bqbsunfou!cvjmejoht!xifsf!uifsfjt!b!efnpotusbufe!nbslfu!efnboe/!Gps!uijt!sfbtpo-!uif!Djuz!tipvme!
bwpje!jodfoujwft!gps!pxofstijq!dpoepnjojvn!bqbsunfou!vojut-!bt!uiftf!gvoet!xpvme!cf!cfuufs!ejsfdufe!
up!puifs!gpsnt!pg!ipvtjoh/!
Ijhi.Sjtf!Efwfmpqnfou!Jodfoujwft!Ä!Pvs!cbtfmjof!qsp!gpsnb!bobmztjt!efnpotusbuft!uibu!ijhi.sjtf!
sfoubm!bqbsunfout!gbmm!kvtu!cfmpx!gjobodjbm!wjbcjmjuz/!Uif!nbslfu!tpvoejoh!joufswjfxt!dpogjsnfe!uibu!
dpotusvdujpo!dptut!gps!ijhi.sjtf!dpodsfuf!cvjmejoht!bsf!21&!up!26&!ijhifs!uibo!nje.sjtf!xppe.gsbnf!
cvjmejoht-!xjui!wfsz!mjuumf!qsfnjvn!po!bwfsbhf!npouimz!sfou/!Gps!ijhi.sjtf!qspkfdut-!uifsf!jt!bmtp!uif!
beefe!sjtl!bttpdjbufe!xjui!mfbtjoh!b!mbshfs!ovncfs!pg!vojut/!Uif!mpxfs!sfuvsot-!dpncjofexjui!ijhifs!
sjtl!nbz!fyqmbjoxiz!uiftf!uzqft!pg!efwfmpqnfou!bsf!mftt!dpnnpo!jo!Tbjou!Kpio/!Jg!uif!Djuz!xbout!up!
fodpvsbhf!ijhi.sjtf!dpodsfuf!cvjmejoht-!ju!nbz!cf!qpttjcmf!up!jodfoujwj{f!uiftf!uzqft!pg!
efwfmpqnfout/!
Wbdbou!CvjmejohtEfwfmpqnfou!Jodfoujwft ÄWbdbou!cvjmejoh!gbmmt!kvtu!cfmpx!uif!njojnvn!21&!JSS!
wjbcjmjuz!uisftipme/!Nbslfu!tpvoejoh!joufswjfxt!sfwfbmfe!uifDjuz!jt!iftjubou!up!pggfs!b!Æepmmbst!qfs!eppsÇ!
jodfoujwf!gps!wbdbou!cvjmejoht!bt!uijt!dpvme!ibwf!vojoufoefe!dpotfrvfodft!pg!pxofst!mfuujoh!cvjmejoht!
hp!wbdbou!up!bddftt!uijt!gvoejoh/!Jodfoujwft!uibu!pddvs!qptu.sfwjubmj{bujpo!)f/h/-!qspqfsuz!uby!xbjwfst*!bsf!
qsfgfssfe/
Dibmmfohjoh!Upxoipvtf!Tjuft ÄBt!tipxo!uispvhi!uif!qsp!gpsnb!bobmztjt-!efwfmpqnfou!pg!pxofstijq!
upxoipvtf!vojut!jt!opu!gjobodjbmmz!wjbcmf!cbtfe!po!hspxjoh!dpotusvdujpo!dptut!boe!b!tjuf!tfswjdjoh!boe!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!8!!
Qbsdfm!
!
!
!
jogsbtusvduvsf!dptu!pg!%7-611!qfs!mjofbs!nfusf/!Cbtfe!po!nbslfu!tpvoejoh!joufswjfxt!dpoevdufe!cz!
Qbsdfm-!nboz!pg!uif!sfnbjojoh!upxoipvtf!efwfmpqnfou!tjuft!jo!Tbjou!Kpio!bsf!dibmmfohjoh-!bt!uifz!bsf!
fodvncfsfe!cz!spdl!boe0ps!txbnq!uibu!sfrvjsf!cmbtujoh!boe!gjmmjoh/!B!31&!jodsfbtf!jo!tjuf!tfswjdjoh!
boe!jogsbtusvduvsf!dptut!dpvme!gvsuifs!sfevdf!wjbcjmjuz!pg!b!efwfmpqnfou!tjuf/
Uif!efdmjojoh!jowfoupszpg!wjbcmf!tjuft!boe!dibmmfohfe!qspgjubcjmjuz!gps!pxofstijq!upxoipvtf!vojut!jt!
hfofsbmmz!dpotjtufou!xjui!ipvtjoh!dpotusvdujpo!bdujwjuz!sfqpsufe!cz!DNID/!Ijtupsjdbmmz!upxoipvtf!vojut!
xfsfbo!jnqpsubou!dpousjcvups!up!ipvtjoh!hspxui!jo!uif!djuz/!Cfuxffo!2::1!boe!3121-!uif!djuz!bwfsbhfe!
ofbsmz!41!upxoipvtf!tubsut!qfs!zfbs/!Ipxfwfs-!tjodf!3122-!uif!djuz!ibt!bwfsbhfe!pomz!tfwfo!tubsut!qfs!
zfbs-!eftqjuf!qpqvmbujpo!hspxui!bddfmfsbujoh!jo!sfdfou!zfbst/
Sfdphoj{joh!cbtfmjof!gjobodjbm!gfbtjcjmjuz!dibmmfohft-!boe!uibu!nboz!pg!uif!sfnbjojoh!efwfmpqnfou!tjuft!
bsf!npsf!dibmmfohjoh-!uif!Djuz!tipvme!dpotjefs!nbjoubjojohb!efwfmpqnfou!jodfoujwf!gps!
dibmmfohjoh!tjuft-!tjnjmbs!up!uif!qsphsbnt!uibu!ibwf!cffo!pggfsfe!cz!uif!Djuz!jo!uif!qbtu!ps!uif!
sfdfou!Ipvtjoh!Bddfmfsbups!Gvoe!Hsbou!Qsphsbnboe!qpufoujbmmz!fyqboe!uijt!qsphsbn!up!bmm!
upxoipvtf!vojut/
Tfotjujwjuz!Bobmztjt
Gpmmpxjoh!uif!dpnqmfujpo!pg!uif!cbtfmjof!bobmztjt-!xf!voefsuppl!uxp!tfotjujwjuz!bobmztft!up!fybnjof!uif!jnqbdu!uibu!
dibohjoh!qsp!gpsnb!joqvut!dpvme!ibwf!po!gjobodjbm!wjbcjmjuz/!Uif!tfotjujwjuz!bobmztft!xfsf!bt!gpmmpxt;
Tfotjujwjuz!$2;!!
Npevmbs!Dpotusvdujpo!Nje.Sjtf!Sfoubm!
!
Uijt!tdfobsjp!dpotjefsfe!b21&!jodsfbtf!jo!ibse!dpotusvdujpo!dptut!boe!36&!sfevdujpo!jo!dpotusvdujpo!
ujnfmjof/!
Npevmbs!dpotusvdujpo!sfevdft!gjobodjbm!wjbcjmjuzcz!jodsfbtjoh!dpotusvdujpo!dptut/!Uif!ujnf!tbwjoht!pg!
npevmbs!dpotusvdujpo!bsf!opu!fopvhi!up!pggtfu!uiftf!jodsfbtfe!dptut/!Cbtfe!po!uijt-!b!efwfmpqfs!jt!vomjlfmz!
up!qvstvf!npevmbs!ipvtjoh!pwfs!usbejujpobm!dpotusvdujpo-!bt!ju!ibt!uif!qpufoujbm!up!fspef!gjobodjbm!sfuvsot/
Tfotjujwjuz!$3;!
Sfubjm!0!Dpnnfsdjbm!Tqbdf!Sfrvjsfnfou!gps!Nje.Sjtf!'!Ijhi.Sjtf!Sfoubm
Gps!uijt!tdfobsjp-!xf!ibwf!dpotjefsfe!b!sfubjm!0!dpnnfsdjbm!tqbdf!sfrvjsfnfou!pg!6&!pg!uif!cvjmejoh!bsfb-!
xjui!b!dpnnfotvsbuf!sfevdujpo!jo!sftjefoujbm!trvbsf!gppubhf/!Ju!jt!bttvnfe!uibu!sfubjm!0!dpnnfsdjbm!qbsljoh!
sfrvjsfnfout!ep!opu!hfofsbuf!sfwfovf/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!9!!
Qbsdfm!
!
!
!
B!sfubjm!0!dpnnfsdjbm!tqbdf!sfrvjsfnfou!xpstfot!gjobodjbm!wjbcjmjuz!gps!cpui!nje.sjtf!boe!ijhi.sjtf!
uzqpmphjft/!Uijt!jt!votvsqsjtjoh!hjwfo!dpnnfsdjbm!sfout!bsf!mpxfs!uibo!sftjefoujbm!sfout!boe!boz!dpnnfsdjbm!
tqbdf!dpotusvdufe!bu!uif!fyqfotf!pg!sftjefoujbm!vojut!sfevdft!sfwfovf-!bmm!fmtf!frvbm/
Jnqbdu!pg!Jodfoujwft
Cbtfe!po!uif!cbtfmjof!gfbtjcjmjuz!sftvmut-!xf!dpotjefsfe!b!upubm!pg!gpvs!)5*!jodfoujwft!gps!uftujoh/!
2/B!npevmbsdpotusvdujpo!hsbou gps!upxoipvtftboe!nje.sjtf!sfoubmcvjmejoht
3/B!hspvoe!gmpps!njyfe.vtf!sfubjm!0!dpnnfsdjbm!tqbdf!hsbou qfs!hsptttrvbsf!gppu!)HTG*!gps!nje.boe!
ijhi.sjtf!sfoubmcvjmejoht
4/B!cvjmejoh!qfsnju!gff!xbjwfs gps!ijhi.sjtf!sfoubmboe!wbdbou!sfoubm!cvjmejoht
5/B!efwfmpqnfou!jodfoujwf!gps!upxoipvtft-!ijhi.sjtf!sfoubm!cvjmejoht-boe!wbdbou!sfoubm!cvjmejoht
B!eftdsjqujpo!pg!fbdi!jodfoujwf!jt!qsftfoufe!jo!uif!gpmmpxjoh!ubcmf/
Gjhvsf!FT!2/!6
Jodfoujwf!Eftdsjqujpot
Jodfoujwf!Eftdsjqujpo!
Djuz!qspwjeft!efwfmpqfs!xjui!b!hsbou!up!pggtfu!jodsfbtfe!
2/Npevmbs!DpotusvdujpoHsbou
efwfmpqnfou!dptut!pg!npevmbs!dpotusvdujpo/!Hsbou!jt!
frvjwbmfou!up!bdijfwf!cbtfmjof!JSSgps!usbejujpobm!
dpotusvdujpo/
Djuz!qspwjeft!efwfmpqfs!xjui!b!hsbou!up!pggtfu!mpxfssfwfovf!
3/Sfubjm!0!Dpnnfsdjbm!Tqbdf!
evf!up!b!sfubjm!0!dpnnfsdjbm!tqbdf!sfrvjsfnfou/!Hsbou!jt!
SfrvjsfnfouHsbou
frvjwbmfou!up!bdijfwf!JSS!cbtfmjofgps!b!cvjmejoh!xjui!op!
njyfe.vtf!dpnqpofou/
Efwfmpqnfout!ep!opu!qbz!uif!cvjmejoh!qfsnju-!dbmdvmbufe!bu!
4/Cvjmejoh!Qfsnju!Xbjwfs
b!cbtf!gff!pg!%231!boe!bo!beejujpobm!%9/:1!qfs!%2-111!pg!
dpotusvdujpo!wbmvf/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!:!!
Qbsdfm!
!
!
!
Djuz!qspwjeft!b!hsbou!qfs!voju!bnpvou/!Uijt!hsbou!dbo!cf!
5/Upxoipvtf-!Ijhi.Sjtf!Sfoubm!boe!
qspwjefe!bt!fjuifs!b!pof.ujnf-!vqgspou!hsbou-!ps!bo!boovbm!
Wbdbou!Cvjmejoh!Efwfmpqnfou!
hsbou!qspwjefe!pwfs!b!6.zfbs!ps!21.zfbs!qfsjpe/
Jodfoujwf
Tpvsdf;!Qbsdfm
Sftvmut
Hsbout)Npevmbs!Dpotusvdujpo!'!Sfubjm!0!Dpnnfsdjbm*
Jodfoujwj{joh!npevmbs!nje.sjtf!sfoubmsfrvjsft!b!tvctjez!pg!bqqspyjnbufmz!%27-911!qfs!voju!)ps!%951-111!gps!
b!61.voju!cvjmejoh*/
Jodfoujwj{joh!sfubjm!0!dpnnfsdjbm!tqbdfsfrvjsft!b!tvctjez!%56qfs!HTG!up!%74qfs!HTG-!efqfoejoh!po!uif!
uzqpmphz!)nje.sjtf!wt/!ijhi.sjtf*/!
Cvjmejoh!Qfsnju!Xbjwfs
Bt!dbmdvmbufe-!cvjmejoh!qfsnjut!gps!cpui!uif!ijhi.sjtfsfoubmuzqpmphzboewbdbou!cvjmejoh!uzqpmphz!
dpotujuvuf!bqqspyjnbufmz!2&!pg!uif!upubm!efwfmpqnfou!cvehfu!)ibse!dptut!,!tpgu!dptut!,!gjobodjoh*/!Xbjwjoh!
cvjmejoh!qfsnju!gfft!jnqspwft!bmm!sfuvso!nfusjdt-!cvu!uif!jnqspwfnfou!jt!ofhmjhjcmf!bu!cfuxffo!2&!boe!4&-!
efqfoejoh!po!uif!nfusjd!boe!hfphsbqiz/!Uiftf!jnqspwfnfout!bsf!mjlfmz!opu!mbshf!fopvhi!up!
fodpvsbhf!beejujpobm!ijhi.sjtf!sfoubm!efwfmpqnfou!ps!wbdbou!cvjmejoh!dpowfstjpo/!
Efwfmpqnfou!Jodfoujwft!Ä!Pxofstijq!Upxoipvtf!boe!Ijhi.Sjtf!Sfoubm!
B!efwfmpqnfou!jodfoujwf!gps!upxoipvtft nbz!cf!ofdfttbsz!up!fodpvsbhf!upxoipvtf!efwfmpqnfou!jo!Tbjou!
Kpio!hjwfo!uifz!bsf!opu!wjbcmf!bu!b!cbtfmjof/!Mjlf!uif!npevmbs!hsbou!eftdsjcfe!fbsmjfs-!xf!ibwf!ubshfufe!
41&!JSS!up!fotvsf!qspgju!boe!FNy!sfuvso!nfusjdt!bsf!ijhi!fopvhi!up!foujdf!efwfmpqnfou/!Juxpvme!dptu!
bqqspyjnbufmz!%25-911!qfs!voju)%259-111!upubm!gps!b!21.voju!efwfmpqnfou*-!up!bdijfwf!41&!JSS/!Uijt!jt!
hfofsbmmz!jomjof!xjui!uif!fyjtujoh!dpotusvdujpo!dibmmfohft!hsbou!pg!6&!pg!upubm!dpotusvdujpo!dptut-!upb!
nbyjnvn!pg!%61-111!qfs!qspkfdu!)%23-611!qfs!voju!gps!b!gpvs.voju!efwfmpqnfou*/!Gps!uijt!sfbtpo-!xf!
sfdpnnfoe!dpoujovjoh!uif!dpotusvdujpo!dibmmfohft!hsbouboe!qpufoujbmmz!fyqboejoh!uijt!hsbou!up!bmm!
upxoipvtf!efwfmpqnfout/!
Bt!qsfwjpvtmz!nfoujpofe-!ijhi.sjtf!sfoubm jt!kvtu!cfmpx!wjbcmfbu!b!cbtfmjof!boeibt!mpxfs!sfuvsot!uibonje.
sjtf-!xijdi!nbz!nblf!ju!mftt!bqqfbmjoh!up!efwfmpq/Up!qpufoujbmmz!jodfoujwj{f!ijhi.sjtf!efwfmpqnfou-!xf!
dbmdvmbufe!uif!vqgspou!hsbou!bnpvou!sfrvjsfe!gps!b!ijhi.sjtf!cvjmejoh!up!bdijfwf!uif!njojnvn!21&!JSS/!Uijt!
bnpvou!jt!bqqspyjnbufmz!%:11-111!)%7-111!qfs!voju*/!!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!21!!
Qbsdfm!
!
!
!
Beejujpobmmz-!xf!opuf!ju!nbz!cf!gjobodjbmmz!dibmmfohjoh!gps!uif!nvojdjqbmjuz!up!qspwjef!vqgspou!hsbout!pg!uijt!
nbhojuvef!dpotjefsjoh!uifz!ibwf!zfu!up!sfdfjwfb!qspqfsuz!wbmvf!vqmjgu!bttpdjbufe!xjui!uif!efwfmpqnfou/!
Bddpsejohmz-!xf!npefmmfe!uif!boovbmhsbou!bnpvou!sfrvjsfe!up!bdijfwf!uif!tbnf!21&!JSS!pwfs!cpui!gjwf.
zfbs boe!21.zfbs!qfsjpet/!Uiftf!mpohfs!hsbou!qfsjpet!sftvmu!jo!mpxfs!boovbmhsbou!bnpvout!uibo!uif!tjohmf!
vqgspou!hsbou-!ipxfwfs-!b!hsfbufs!upubm!hsbou!bnpvoupwfsbmm/
Efwfmpqnfou!Jodfoujwft!ÄSfoubm!Wbdbou!Cvjmejoht
Uif!tbnf!JSS.nbudijoh!bobmztjt!xbt!dpoevdufe!gps!sfoubm!wbdboucvjmejoht/!Bdijfwjoh!uif!njojnvn!21&!
JSSxpvme!dptu!bqqspyjnbufmz!%2:-111!)%7-411!qfs!voju*/
BggpsebcmfVojut
Bggpsebcmf!vojut!xjmm!nblf!efwfmpqnfou!mftt!wjbcmf!cz!sfevdjoh!sfwfovft!)j/f/-!sfout*!xjuipvu!b!
dpnnfotvsbuf!sfevdujpo!jo!efwfmpqnfou!dptut!)f/h/-!mboe!dptut-!dpotusvdujpo!dptut-!fud/*/
Pvs!bobmztjt!dbmdvmbuft!uif!upubm!tvctjez!sfrvjsfe!gps!b!efwfmpqnfou!up!bdijfwf!uif!cbtfmjof!JSS!)j/f/-!cbtfe!
po!nbslfu!vojut!pomz*!xjui!wbszjoh!bnpvout!pg!bggpsebcmf!vojut!)21&!up!61&pg!vojut!jo!uif!cvjmejoh*/!Xf!uifo!
tvcusbdu!uif!nbyjnvn!fyjtujoh!gvoejoh!bwbjmbcmf!uispvhi!dvssfou!gfefsbm-!qspwjodjbm-!boe!nvojdjqbm!
qsphsbnt!up!bssjwf!bu!uif!tvctjez!ÆhbqÇ/!Uijt!ÆhbqÇ!jt!uif!bnpvou!pg!beejujpobm!tvctjez!b!efwfmpqfs!xpvme!
sfrvjsf!up!qspdffe!xjui!uif!bggpsebcmf!vojut-!bmm!fmtf!cfjoh!frvbm/
Gps!nje.sjtf!efwfmpqnfout-!uif!tvctjez!hbq!sbohft!gspn!bqqspyjnbufmz!%71-511qfs!bggpsebcmf!voju!jg!
21&!pg!vojut!bsf!bggpsebcmf!up!%92-411!qfs!bggpsebcmf!voju!jg!61&!pg!vojut!bsf!bggpsebcmf/!Gps!ijhi.sjtf!
efwfmpqnfout-!uif!tvctjez!hbq!sbohft!gspn!bqqspyjnbufmz!%:1-511!qfs!bggpsebcmf!voju!jg!21&!pg!vojut!bsf!
bggpsebcmf!up!%212-111!qfs!bggpsebcmf!voju!jg!61&!pg!vojut!bsf!bggpsebcmf/!
Xf!opuf!uibu!efwfmpqfst!xpvme!mjlfmz!gjmm!uijt!tvctjez!hbq!gspn!b!wbsjfuz!pg!tpvsdft-boe!ju!jt!opu!ofdfttbsjmz!
uif!sftqpotjcjmjuz!pg!uif!nvojdjqbmjuz!up!gvoe!uif!foujsf!hbq/!Xibu!uijt!epft!nfbo-!ipxfwfs-!jt!uibu!
bggpsebcjmjuz!sfrvjsfnfout!xjmm!sfevdf!uif!jnqbdu!pg!uif!qsfwjpvtmz!bobmz{fe!jodfoujwft-!bmm!fmtf!cfjoh!
frvbm/Beejujpobmmz-!uif!Djuz!tipvme!nbjoubjo!jut!Bggpsebcmf!Ipvtjoh!Hsbou!qsphsbn-!boe!dpotjefs!
jodsfbtjoh!uif!hsbou!bnpvou!up!jnqspwf!wjbcjmjuz-!xifsf!qpttjcmf/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!22!!
Qbsdfm!
!
!
!
Jnqbdu!po!Nvojdjqbm!Gjobodft!
Gjobodjbm!jodfoujwft!uibu!jnqspwf!gjobodjbm!wjbcjmjuz!gps!efwfmpqfst!sftvmu!jo!dptut!up!uif!nvojdjqbmjuz!)f/h/-!
hsbout*/!Uif!ubcmf!cfmpx!ftujnbuft!uif!dptu!up!Tbjou!Kpio!up!qspwjef!npevmbs!dpotusvdujpo!hsbout-!
sfubjm0dpnnfsdjbm!tqbdf!hsbout-!cvjmejoh!qfsnju!xbjwfst-!boe!efwfmpqnfou!jodfoujwft!gps!fbdi!qspupuzqjdbm!
efwfmpqnfou!uzqpmphz-!xifsf!bqqmjdbcmf/
Gjhvsf!FT!2/!7
Dptut!up!Qspwjef!Gjobodjbm!Jodfoujwft
Npevmbs!Dpotusvdujpo Sfubjm!0!Dpnnfsdjbm!Hsbou Cvjmejoh!Qfsnju!Xbjwfs
Upxoipvtft!)21!Vojut*
Qfs!Voju%56-311o0bo0b
Nje.Sjtf!Sfoubm!)61!Vojut*
Qfs!Voju%27-911o0bo0b
Ijhi.Sjtf!Sfoubm!)261!Vojut*
Qfs!Vojuo0bo0b%3-511
Wbdbou!Cvjmejoh!Sfoubm!)4!Vojut*
Qfs!Vojuo0bo0b%3-311
!
Efwfmpqnfou!Jodfoujwf!.!Efwfmpqnfou!Jodfoujwf!.!Efwfmpqnfou!Jodfoujwf!.!
Ubshfu!JSS!.!VqgspouUbshfu!JSS!.!6!Zfbs!HsbouUbshfu!JSS!.!21!Zfbs!Hsbou
Upxoipvtft!)21!Vojut*
Qfs!Voju%25-911o0bo0b
Nje.Sjtf!Sfoubm!)61!Vojut*
Qfs!Vojuo0bo0bo0b
Ijhi.Sjtf!Sfoubm!)261!Vojut*
Qfs!Voju%7-111%9-411%22-611
Wbdbou!Cvjmejoh!Sfoubm!)4!Vojut*
Qfs!Voju%7-411o0bo0b
Tpvsdf;!Qbsdfm/!Spvoefe!up!ofbsftu!%211/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!23!!
Qbsdfm!
!
!
!
Ipxfwfs-!ju!jt!jnqpsubou!up!opuf!ofx!efwfmpqnfou!xjmm!bmtp!hfofsbuf!sfwfovf!wjb!qspqfsuz!ubyft!
2
jnnfejbufmz!bgufs!dpotusvdujpo/!Bttvnjoh!uby!sbuft!sfnbjo!dpotjtufou-!uif!dptu!pg!jodfoujwft!dbo!cf!
sfdpvqfe!wjb!qspqfsuz!ubyft!jo!pofup!gjwfzfbstefqfoejoh!po!uif!jodfoujwf/!Npevmbs!hsbout!boe!
efwfmpqnfou!jodfoujwft!uibu!nbudi!JSS!ps!pggfs!b!hsbou!qfs!voju!cbtjt!xjmm!ublf!uif!mpohftu!up!sfdpvq/!
Cvjmejoh!qfsnju!xbjwfst!bsf!sfdpvqfe!xjuijo!uif!gjstu!zfbs!pg!qspqfsuz!uby!qbznfout/!
Ju!jt!bmtp!jnqpsubou!up!opuf!uibu!uif!ovncfst!qsftfoufe!jo!uijt!tfdujpo!sfqsftfou!b!ijhi.mfwfm!bobmztjt!cbtfe!
po!uif!bttvnqujpot!dpoubjofe!jo!uijt!sfqpsuboe!tipvme!opu!cf!ublfo!bt!efgjojujwf/!Uif!Djuz!pg!Tbjou!Kpiojt!
fodpvsbhfe!up!dpnqmfuf!b!npsf!efubjmfe!dptu.cfofgju!bobmztjt!cfgpsf!jnqmfnfoujoh!boz!pg!uiftf!jodfoujwft/
Gjhvsf!FT!2/!8
Ftujnbufe!Ujnf!up!Sfdpvq!Jodfoujwft!wjb!Qspqfsuz!Uby!Sfwfovft
Efwfmpqnfou!
Dpnqmfuf
Zfbs!1Zfbs!2Zfbs!3Zfbs!4Zfbs!5Zfbs!6Zfbs!7
Jodfoujwft!
Qspqfsuz!Ubyft!Dpmmfdufe
Npevmbs!Dpotusvdujpo!Hsbou
Sfdpvqfe
Jodfoujwft!
Qspqfsuz!Ubyft!Dpmmfdufe
Efwfmpqnfou!Jodfoujwf!.!Ubshfu!JSS
Sfdpvqfe
Upxoipvtf
Jodfoujwft!
Qspqfsuz!Ubyft!Dpmmfdufe
Npevmbs!Dpotusvdujpo!Hsbou
Sfdpvqfe
Jodfoujwft!
Sfoubm
Sfubjm!0!Dpnnfsdjbm!Hsbou
Nje.Sjtf!
Sfdpvqfe
Jodfoujwft!
Sfubjm!0!Dpnnfsdjbm!Hsbou
Sfdpvqfe
Jodfoujwft!
Cvjmejoh!Qfsnju!Xbjwfs
Sfdpvqfe
Qspqfsuz!Ubyft!Jodfoujwft!
Efwfmpqnfou!Jodfoujwf!.!Ubshfu!JSS!Vqgspou
Dpmmfdufe
Sfdpvqfe
Qspqfsuz!Ubyft!Jodfoujwft!
Efwfmpqnfou!Jodfoujwf!.!Ubshfu!JSS!6!Zfbs
Ijhi.Sjtf!Sfoubm Dpmmfdufe
Sfdpvqfe
Jodfoujwft!
Qspqfsuz!Ubyft!Dpmmfdufe
Efwfmpqnfou!Jodfoujwf!.!Ubshfu!JSS!21!Zfbs
Sfdpvqfe
Jodfoujwft!
Cvjmejoh!Qfsnju!Xbjwfs
Sfdpvqfe
Qspqfsuz!Ubyft!Jodfoujwft!
Sfoubm
Efwfmpqnfou!Jodfoujwf!.!Ubshfu!JSS!Vqgspou
Dpmmfdufe
Sfdpvqfe
Wbdbou!Cvjmejoh!
!
!Qspqfsuz!uby!sfwfovf!cbtfe!po!b!sbuf!pg!2/62&-!sfqsftfoujoh!njeqpjou!pg!gjwf.zfbs!uby!sbuf!efdsfbtf!pg!%1/13!qfs!%211!cfhjoojoh!bu!%2/66!qfs!
%211!jo!3136/!Ijhifs!ps!mpxfs!qspqfsuz!uby!sbuf!nbz!sftvmu!jo!mpohfs!ps!tipsufs!ujnfmjoft!up!sfdpvq!jodfoujwft/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!24!!
Qbsdfm!
!
!
!
Tpvsdf;!Qbsdfm/!!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!25!!
Qbsdfm!
!
!
!
Dbquvsjoh!Dibohf!'!Qsphsbn!Sfwjfx!
Tubujd!wt/!Ezobnjd!Jodfoujwft
Tubujd!jodfoujwft!)j/f/-!jodfoujwft!bnpvout!ep!opu!dibohf*!dbo!sftvmu!jo!jodfoujwft!cfdpnjoh!mftt!fggfdujwf!
pwfs!ujnf!)jo!uif!dbtf!pg!jodsfbtjoh!efwfmpqnfou!dptut*!ps!tvqfsgmvpvt!)jo!uif!dbtf!pg!efdsfbtjoh!
efwfmpqnfou!dptut*/!Uipvhi!tubujd!jodfoujwft!dbo!tjnqmjgz!qsphsbn!efmjwfsz-!uifz!bsf!opu!sfdpnnfoefe/!
Bddpsejohmz-!ju!jt!jnqpsubou!jodfoujwft!bsf!ezobnjd!up!fotvsf!uifz!sfnbjo!sfmfwbou!xjui!dibohjoh!nbslfu!
dpoejujpot/!Uxp!dpnnpo!cfodinbslt!up!joefy!jodfoujwft!bsf;
Zfbsmz!jogmbujpo
Cvjmejoh!Dpotusvdujpo!Qsjdf!Joefy!)CDQJ*!)bwbjmbcmf!uispvhi!Tubujtujdt!Dbobeb*
Uif!Djuz!dbo!bmtp!bekvtu!jodfoujwft!cbtfe!po!tjnjmbs!bekvtunfout!up!jut!puifs!gfft!)f/h/-!cvjmejoh!qfsnju-!
qmboojoh!bqqmjdbujpot-!fud/*/
Qsphsbn!Sfwjfx
Ju!jt!jnqpsubou!up!sfhvmbsmz!sfwjfx!jodfoujwf!qsphsbnt!up!fotvsf!uifz!bsf!bdijfwjoh!uifjs!joufoefe!sftvmut/!
Xijmf!uif!gsfrvfodz!pg!qsphsbn!sfwjfx!xjmm!cf-!jo!qbsu-!efufsnjofe!cz!tubgg!dbqbdjuz-!ju!jt!sfdpnnfoefe!up!
sfwjfx!qsphsbnt!fwfsz!3.4!zfbst/!
!
Dpodmvtjpot!'!Sfdpnnfoebujpot
Uif!bobmztjt!ftujnbuft!uif!gjobodjbm!jnqbdu!boe!dptut!up!qspwjef!jodfoujwft!gps!b!wbsjfuz!pg!ipvtjoh!uzqpmphjft!boe!
ufovsft/!Vmujnbufmz-!uif!ÆcftuÇ!jodfoujwft!up!qvstvf!efqfoe!po!Djuz!ipvtjoh!pckfdujwft!boe!gjobodjbm!dbqbdjuz/!Gps!
fybnqmf-!jg!uif!Djuz!xjtift!up!fodpvsbhf!npsf!upxoipvtf!uzqpmphjft-!ju!tipvme!qvstvf!b!upxoipvtf!efwfmpqnfou!
jodfoujwf!hsbou!qfs!voju/!Jg!ju!xjtift!up!nbyjnj{f!uif!ovncfs!pg!ipvtjoh!vojut-!ju!tipvme!pggfs!jodfoujwft!gps!ijhi.sjtf!
efwfmpqnfout/!Ipxfwfs-!tpnf!jodfoujwft!nbz!cf!upp!fyqfotjwf!up!pggfs!cbtfe!po!dvssfou!boe!qspkfdufe!cvehfut-!
boe!gjojuf!gjobodjbm!sftpvsdft!jofwjubcmz!nfbot!gvoejoh!dfsubjo!jodfoujwft!nfbot!gfxfs!gvoet!bsf!bwbjmbcmf!gps!puifst/!
Xjui!uif!bcpwf!jo!njoe-!xf!pggfs!uif!gpmmpxjoh!tqfdjgjd!sfdpnnfoebujpot;
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!26!!
Qbsdfm!
!
!
!
Sfdpnnfoebujpo!$2!
Dpnqmfuf!b!efubjmfe!dptu.cfofgju!bobmztjt!gps!jodfoujwft!cbtfe!po!eftjsfe!ipvtjoh!pckfdujwft0pvudpnft/Gps!
efwfmpqnfou!hsbout!)f/h/-!ijhi.sjtf!sfoubm-!wbdbou!cvjmejoht*-!efufsnjof!xifuifs!up!qspwjef!bt!vqgspou!ps!boovbm!
hsbout/!Xf!opuf!uibu!xijmf!ju!nbz!cf!gjobodjbmmz!dibmmfohjoh!gps!uif!nvojdjqbmjuz!up!qspwjef!vqgspou!hsbout-!boovbm!
hsbou!bnpvout!sfrvjsfe!up!bdijfwf!uif!tbnf!sfuvso!nfusjdt!sftvmu!jo!b!hsfbufs!upubm!hsbou!bnpvou!pwfsbmm/
Sfdpnnfoebujpo!$3
Ep!opu!jodfoujwj{f!nvmuj.voju!pxofstijq!ipvtjoh!ps!nje.sjtf!sfoubm!ipvtjoh!bu!uijt!ujnf/!Nvmuj.voju!pxofstijq!jt!
sfmbujwfmz!vouftufe!jo!uif!Tbjou!Kpio!nbslfu/!Nje.sjtf!sfoubm!ipvtjoh!nffut!wjbcjmjuz!uisftipmet!boe!mjlfmz!epft!opu!
offe!jodfoujwft/
Sfdpnnfoebujpo!$4
Nbjoubjo!uif!Dpotusvdujpo!Dibmmfohft!Hsbou!up!bttjtu!xjui!uif!efwfmpqnfou!pg!dibmmfohjoh!tjufthjwfo!uif!jodfoujwf!
sfrvjsfe!up!nblf!upxoipvtf!efwfmpqnfou!gjobodjbmmz!wjbcmf!jt!hfofsbmmz!jo!mjof!xjui!uif!fyjtujoh!hsbou!bnpvou/
Sfdpnnfoebujpo!$5
Nbjoubjo!uif!fyjtujoh!Bggpsebcmf!Ipvtjoh!Hsbouqsphsbn-!boe!dpotjefs!jodsfbtjoh!uif!hsbou!bnpvou!up!jnqspwf!
wjbcjmjuz-!xifsf!qpttjcmf/!
Sfdpnnfoebujpo!$6!
Dpotjefs!qspwjejoh!ujnf.cbtfe!jodfoujwft!up!tujnvmbuf!beejujpobm!efwfmpqnfou!up!beesftt!ipvtjoh!tvqqmz!
dibmmfohft/!Gps!fybnqmf-!xijmf!nje.sjtf!sfoubm!ipvtjoh!jt!gjobodjbmmz!wjbcmf!jo!uif!cbtfmjof!tdfobsjp-!bo!jodfoujwf!pomz!
bwbjmbcmf!gps!b!gjyfe!qfsjpe!)f/h/-uxp!ps!uisff!zfbst*!dpvme!ifmq!Æqvmm!gpsxbseÇefwfmpqnfou-!tjnjmbs!up!uif!uzqf!pg!
jodfoujwf!jefoujgjfe!jo!Ptibxb!up!ifmq!tujnvmbuf!tuvefou!ipvtjoh!vojut/
Sfdpnnfoebujpo!$7
Joefy!jodfoujwf!bnpvout!up!fotvsf!uifz!sfnbjo!sfmfwbou!xjui!dibohjoh!nbslfu!dpoejujpot/!Dpnnpo!joefyft!jodmvef!
uif!Cvjmejoh!Dpotusvdujpo!Qsjdf!Joefy!dpnqjmfe!cz!Tubujtujdt!Dbobeb!boe!zfbsmz!jogmbujpo/
Sfdpnnfoebujpo!$8
Sfwjfx!jodfoujwft!sfhvmbsmz!up!fotvsf!uifz!bsf!bdijfwjoh!uifjs!joufoefe!sftvmut/!B!uxp.!ps!uisff.zfbs!sfwjfx!dzdmf!jt!
sfdpnnfoefe-!tvckfdu!up!tubgg!dbqbdjuz/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!27!!
Qbsdfm!
!
!
!
Jouspevdujpo
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!28!!
Qbsdfm!
!
!
!
Jnqpsubodf!pg!Jodfoujwft!
Bddfmfsbujoh!qpqvmbujpo!hspxui!jo!Tbjou!Kpio!ibt!dpnf!xjui!b!sbohf!pg!dibmmfohft!jo!uif!ipvtjoh!nbslfu-!bt!mpdbm!
cvjmefst0efwfmpqfst!tusvhhmf!up!lffq!vq!xjui!jodsfbtfe!efnboe!boe!sjtjoh!qsjdft!ibwf!mfgu!tpnf!sftjefout!cfijoe/
Uif!Djuz!pg!Tbjou!Kpiojefoujgjfe!uif!jnqpsubodf!pg!jodfoujwft up!beesftt!uiftf!ipvtjoh!dibmmfohft!bt!qbsu!pg!jut!
3133!Bggpsebcmf!Ipvtjoh!Bdujpo!Qmbo/!Jodfoujwft!ibwf!uif!qpufoujbmupvompdl!ipvtjoh!tvqqmz!uibu!nbz!opu!cf!
gjobodjbmmz!wjbcmfup!efwfmpqbt!xfmm!bt!upbewbodf!nvojdjqbm!qpmjdz!pckfdujwft!)f/h/-!npevmbs!ipvtjoh-!njyfe.vtf!
efwfmpqnfou-!fud/*/
Qvsqptf
Uijt!tuvez!jt!joufoefe!up!bttjtu!uif!Djuz!jo!cfuufs!voefstuboejoh!ipx!uif!dvssfou!tvjuf!pg!ipvtjoh!jodfoujwft!jt!
nffujoh!Djuz!hpbmt!pg!efmjwfsjoh!npsf!ipvtjoh!boe!xifuifs!ofx!jodfoujwft!bsf!sfrvjsfe!up!jodsfbtf!uif!tvqqmz!pg!
ipvtjoh!jo!uif!nvojdjqbmjuz-!jodmvejoh!bggpsebcmf!ipvtjoh!pqujpot/
Sfqpsu!Tusvduvsf
Uif!sfnbjoefs!pg!uijt!sfqpsu!jt!tusvduvsfe!bt!gpmmpxt;
Tfdujpo!2!sfwjfxt!fyjtujoh!boe!qbtu!ipvtjoh!jodfoujwf!qsphsbnt!pggfsfe!cz!uif!Djuz/!
Tfdujpo!3!qsftfout!dbtf!tuvejft!pg!jodfoujwf!qsphsbnt!jo!qffs!nvojdjqbmjujft/!
Tfdujpo!4 qsftfout!gjoejohtgspn!nbslfu!tpvoejoh!joufswjfxt xjui!mpdbm!cvjmefst-!efwfmpqfst-!opo.qspgjut-!
boe!mfoefst!sfhbsejoh!efwfmpqnfou!sfbmjujft!jo!Tbjou!Kpio!boe!uif!fggjdbdz!pg!jodfoujwft/
Tfdujpot5 qsftfout cbtfmjofgjobodjbm!gfbtjcjmjuz!bobmztjt pg!qspupuzqjdbm!ipvtjoh!efwfmpqnfout!xjuipvu!
jodfoujwft/
Tfdujpo!6 rvboujgjft!uif!jnqbdu!pg!qpufoujbm!jodfoujwft po!gjobodjbm!gfbtjcjmjuz/
Tfdujpo!7 rvboujgjft!uif!jnqbdu!pg!fbdi!jodfoujwf!po!nvojdjqbm!gjobodft bt!xfmm!bt!uif!dptu!pg!jodfoujwj{joh!
wbsjpvt!mfwfmt!pg!bggpsebcjmjuz/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!29!!
Qbsdfm!
!
!
!
Fyjtujoh!'Qbtu!Jodfoujwf!Qsphsbnt
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!2:!!
Qbsdfm!
!
!
!
3/2Pwfswjfx
Qbsdfm!dpoevdufe!b!sfwjfx!pg!qbtu!boe!fyjtujoh!jodfoujwf!qsphsbnt!bwbjmbcmf!uispvhi!uif!Djuz!pg!Tbjou!Kpio/!Uif!
qvsqptf!pg!uijt!sfwjfx!ibt!cffo!up!bobmz{f!fyjtujoh!jodfoujwf!qsphsbnt!up!efufsnjof!jg!uiftf!qsphsbnt!bsf!nffujoh!
uif!DjuzÉt!efwfmpqnfou!hpbmt!pg!vompdljoh!ofx!ipvtjoh/
Uif!gpmmpxjoh!tfdujpo!qspwjeft!bo!pwfswjfx!pg!jodfoujwft!xijdi!ibwf!ijtupsjdbmmz!cffo!pggfsfe!cz!uif!Djuz!pg!Tbjou!
Kpio!bt!xfmm!bt!uiptf!dvssfoumz!jo!qmbdf/!Ju!bmtp!qspwjeft!bo!bobmztjt!pg!uif!vujmj{bujpo!pg!fbdi!bdujwf!qsphsbn/
3/3Ijtupsz!pg!Jodfoujwft
Uif!dpnnvojuz!pg!Tbjou!Kpio!ibt!b!mpoh!ijtupsz!pg!pggfsjoh!gjobodjbm!jodfoujwft!bt!b!nfbot!pg!fodpvsbhjoh!qsjwbuf!
jowftunfou!uibu!tvqqpsut!uif!dsfbujpo!pg!ofx-!nbslfu!sbuf-!sftjefoujbm!boe!opo.sftjefoujbm!efwfmpqnfout!up!bewbodf!
qvcmjd!qpmjdz!hpbmt!ps!qsjpsjujft/!Uiftf!qsphsbnt!ibwf!cffo!ubshfufe!up!bdijfwf!b!xjef!sbohf!pg!hpbmt!boe!buusbdu!
jowftunfou!joufsftu!gspn!b!wbsjfuz!pg!ejggfsfou!hspvqt-!xjui!wbszjoh!efhsfft!pg!vqublf/!Voefstuboejoh!xibu!
jodfoujwft!ibwf!cffo!ijtupsjdbmmz!pggfsfe!jt!jnqpsubou!jo!qspwjejoh!dpoufyu!gps!dvssfou!boe!qpufoujbm!gvuvsf!jodfoujwf!
qsphsbnt/!
Cbtfe!po!ebub!qspwjefe!cz!uif!Djuz!pg!Tbjou!Kpio-!bt!xfmm!bt!tvqqmfnfoubsz!tublfipmefs!joufswjfxt-!Qbsdfm!jefoujgjfe!
jodfoujwf!qsphsbnt!xijdi!ibwf!cffo!pggfsfe!up!fodpvsbhf!uif!dsfbujpo!pg!ofx-!nbslfu!sbuf-!sftjefoujbm!ps!opo.
sftjefoujbm!vojut/!Gjhvsf!3/2!jmmvtusbuft!uif!sbohf!pg!qsphsbnt!xijdi!ibwf!cffo!pggfsfe!cz!uif!Djuz!tjodf!uif!2:91t-!
pshboj{fe!cz!hfofsbm!qvsqptf!pg!uif!qsphsbn/!Uif!gjhvsf!efnpotusbuft!uibu!uifsf!ibwf!cffo!tfwfsbm!ejggfsfou!
qsphsbnt-!xjui!uif!nbkpsjuz!gpdvtfe!po!fodpvsbhjoh!sftjefoujbm!efwfmpqnfou!jo!wbsjpvt!dbqbdjujft/!Tfmfdu!
qsphsbnt!ibwf!bmtp!cffo!pggfsfe!gps!dpnnfsdjbm!)opo.sftjefoujbm*!efwfmpqnfou/!B!tjohmf-!mpoh.svoojoh!qsphsbn!
gps!ifsjubhf!qsftfswbujpo!ibt!cffo!pggfsfe/!Bmuipvhi!uijt!qsphsbn!epft!opu!ejsfdumz!jodfoujwj{f!uif!dsfbujpo!pg!ofu!
ofx!sftjefoujbm!ps!dpnnfsdjbm!vojut-!ju!qspwjeft!gvoejohup!tvqqpsu!uif!nbjoufobodf!boe!vqlffq!pg!dibsbdufs!
fmfnfout!pg!ifsjubhf!cvjmejoht-!fggfdujwfmz!qsftfswjoh!uif!wjbcjmjuz!pg!fyjtujoh!sftjefoujbm!ps!dpnnfsdjbm!tqbdft/!Ju!jt!
jnqpsubou!up!opuf!uibu!uif!Djuz!pg!Tbjou!Kpio!epftÅpgufo!jo!qbsuofstijq!xjui!ijhifsmfwfmt!pg!hpwfsonfouÅqspwjef!
jodfoujwf!qsphsbnt!up!tvqqpsu!uif!dsfbujpo!pg!bggpsebcmf-!opo.nbslfu!ipvtjoh!vojut/!Uiftf!qsphsbnt!bsf!bwbjmbcmf!
uispvhi!uif!Dbobeb!Npsuhbhf!boe!Ipvtjoh!Dpsqpsbujpo)ÆDNIDÇ*boe!Ofx!Csvotxjdl!Ipvtjoh!boe!qspwjef!
pqqpsuvojujft!up!tubdl!jodfoujwft!up!bttjtu!jo!uif!efmjwfsz!pg!bggpsebcmf!ipvtjoh!vojut/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!31!!
Qbsdfm
Gjhvsf!3/2
Ijtupsjdbm!'Dvssfou!Jodfoujwf!Qsphsbnt!Pggfsfe!cz!Djuz!pg!Tbjou!Kpio
Sftjefoujbm!.JogjmmSftjefoujbm!.HsffogjfmeDpnnfsdjbm
Ifsjubhf
.Hsfbufs!Sftjefoujbm!.Sftjefoujbm!
.Dpnnfsdjbm!Jodfoujwf!.Hsbou!gps!Ifsjubhf!
Jodfoujwf!Qsphsbn!Jogsbtusvduvsf!
QsphsbnDpotfswbujpo!Qsphsbn
)HSJQ*Bttjtubodf!Qsphsbn
.Cvtjoftt!Qbsl!
.Ejsfdu!Ipnfpxofs!.Hsfbufs!Sftjefoujbm!
Efwfmpqnfou!Hsbou
Hsbou!Qsphsbn!Jodfoujwf!Qsphsbn!
.Vqqfs!Gmppst!
)EIHQ*)HSJQ*
Qsphsbn
.Ipvtjoh!Uispvhi!Jogjmm!.Ejsfdu!Ipnfpxofs!
Efwfmpqnfou!Hsbou!Qsphsbn!
Qsphsbn)EIHQ*
.Vqqfs!Gmppst!Qsphsbn
.Dpotusvdujpo!
Dibmmfohft!Qsphsbn
.Sftjefoujbm!Efotjuz!
Hsbou
Tpvsdf;!Qbsdfm-!cbtfe!po!ebub!qspwjefe!cz!uif!Djuz!pg!Tbjou!Kpio/
Uif!gpmmpxjoh!qspwjeft!b!csjfg!pwfswjfx!pg!fbdi!ijtupsjdbm!qsphsbn!pvumjofe!jo!uif!gjhvsf!bcpwf/!Dvssfou!qsphsbnt!
bsf!ejtdvttfe!jo!Tfdujpo!3/4/!
Sftjefoujbm!Jodfoujwf!Qsphsbn ÄUijt!qsphsbn!xbt!joufoefe!up!jodsfbtf!uif!Djuz!pg!Tbjou!KpioÉt!tibsf!pg!
ofx!ipvtjoh!hspxui!pddvssjoh!jo!uif!nfuspqpmjubo!bsfb/!Ofx!mput!xfsf!fmjhjcmf!gps!b!hsbou!pg!vq!up!%7-111/!
Uijt!qsphsbn!xbt!bmtp!pggfsfe!up!hsffogjfme!sftjefoujbm!qspkfdut/!
Ejsfdu!Ipnfpxofs!Hsbou!Qsphsbn ÄTjnjmbs!up!uif!Sftjefoujbm!Jodfoujwf!Qsphsbn-!uijt!hsbou!xbt!up!
jodsfbtf!Tbjou!KpioÉt!tibsf!pg!ofx!ipvtjoh!hspxui!pddvssjoh!sfhjpobmmz/!Uijt!hsbou!pggfsfe!b!qspqfsuz!uby!
sfcbuf!bgufs!uif!gjstu!zfbs!pg!pddvqbodz!boe!dpvme!cf!sfdfjwfe!jo!beejujpo!up!uif!Sftjefoujbm!Jodfoujwf!
Qsphsbn/!Tjnjmbsmz-!ju!xbt!bmtp!pggfsfe!up!hsffogjfme!sftjefoujbm!qspkfdut/!
Ipvtjoh!Uispvhi!Jogjmm!Efwfmpqnfou!Qsphsbn ÄUijt!qsphsbn!qspnpufe!efwfmpqnfou!pg!wbdbou!mput!jo!
uisff!ofjhicpvsippet!pg!Tbjou!KpioÅVqupxo-!uif!Opsui!Foe!boe!Xftu!Tjef/!Uif!hsbou!qspwjefe!b!qspqfsuz!
uby!sfcbuf!frvjwbmfou!up!26&!pg!uif!jodsfbtf!jo!uif!bttfttfe!wbmvf!vqpo!qspkfdu!dpnqmfujpo/!
Vqqfs!Gmppst!Qsphsbn ÄUif!qvsqptf!pg!uijt!qsphsbn!xbt!up!fodpvsbhf!uif!sfopwbujpo!boe!vtf!pg!tfdpoe!
gmppst!pg!pmefs!nbjo!tusffu!cvjmejoht!gps!sftjefoujbm!ps!dpnnfsdjbm!vtf/!Uijt!qsphsbn!xbt!mjnjufe!up!tfmfdu!
bsfbt!pg!Vqupxo!Tbjou!Kpio/!Uif!hsbou!ibt!ijtupsjdbmmz!cffo!bwbjmbcmf!gps!dpnnfsdjbm!vtft-ipxfwfs!uif!
dvssfou!jufsbujpo!jt!mjnjufe!up!sftjefoujbm!qvsqptft/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!SfwjfxÄGjobm!Sfqpsu!!!!!32
Qbsdfm!
!
!
!
Sftjefoujbm!Jogsbtusvduvsf!Bttjtubodf!Qsphsbn!Ä!Uif!qvsqptf!pg!uijt!qsphsbn!xbt!up!fodpvsbhf!
hsffogjfme!sftjefoujbm!efwfmpqnfou!up!dpoofdu!up!nvojdjqbm!xbufs!boe!xbtufxbufs!tfswjdft-!sbuifs!uibo!
vujmj{joh!qsjwbuf!tpmvujpot/!Ofx!mput!xfsf!fmjhjcmf!gps!b!hsbou!pg!vq!up!%7-111!qfs!mpu/!
Dpnnfsdjbm!Jodfoujwf!Qsphsbn ÄUif!qvsqptf!pg!uijt!qsphsbn!xbt!up!tvqqpsu!uif!buusbdujpo!pg!mbshf!
dpnnfsdjbm!efwfmpqnfout!jo!Tbjou!Kpio!xiptf!efwfmpqnfou!wbmvf!fydffefe!%6!njmmjpo/!B!hsbou!pg!vq!up!
%261-111!xbt!bwbjmbcmf!up!pggtfu!uif!fyqfotft!bttpdjbufe!xjui!jotubmmjoh!ofx!xbufs!boe!tfxfs!mjoft/
Cvtjoftt!Qbsl!Efwfmpqnfou!Hsbou ÄUif!qvsqptf!pg!uijt!qsphsbn!xbt!up!fodpvsbhf!mbshf!cvtjoftt!qbsl!
efwfmpqnfout!uispvhipvu!Tbjou!Kpio/!Cvtjoftt!qbslt!ibe!up!cf!mbshfs!uibo!41!bdsft!jo!tj{f!jo!psefs!up!cf!
fmjhjcmf!gps!b!nbyjnvn!hsbou!pg!%611-111/
Hsbou!gps!Ifsjubhf!Dpotfswbujpo!Qsphsbn!ÄFmjhjcmf!gps!jowftunfout!jo!dpnnfsdjbm-!sftjefoujbm!ps!
jotujuvujpobm!cvjmejoht!xijdi!dpotfswf!dibsbdufs!efgjojoh!fmfnfout/
Gjhvsf!3/3jmmvtusbuft!ipx!uiftf!wbsjpvt!hsbou!qsphsbnt!ibwf!cffo!jnqmfnfoufe!tjodf!uif!2:91t/!Uif!gjhvsf!tipxt!
uibuÅpuifs!uibo!ifsjubhf!dpotfswbujpoÅuifsf!jt!op!puifs!qsphsbn!xijdi!ibt!dpoujovbmmz!pqfsbufe!tjodf!uif!2:91t/!Ju!
jt!bmtp!joufsftujoh!up!opuf!uibu!tjodf!bqqspyjnbufmz!3121-!uif!pomz!jodfoujwf!qsphsbnt!jo!qmbdf!jo!Tbjou!Kpio!ibwf!
cffo!up!fodpvsbhf!sftjefoujbm!joufotjgjdbujpo/!Uijt!mjlfmz!gmpxt!gspn!uif!gjoejoht!pg!uif!Sfwjfx!pg!Efwfmpqnfou!
Gjobodjbm!Jodfoujwft!sfqpsu!qsfqbsfe!cz!Ifntpo!Dpotvmujoh!jo!3121/!Ju!jt!bmtp!xpsui!opujoh!uibu!uif!Vqqfs!Gmppst!
qsphsbn!dpoujovft!up!cf!benjojtufsfe!upebz-!xjuijo!uif!Sftjefoujbm!Efotjuz!hsbou!qsphsbn/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!33!!
Qbsdfm!
!
!
!
Gjhvsf!3/3!
Ijtupsjdbm!Hsbou!Pggfst!cz!Evsbujpo!jo!uif!Djuz!pg!Tbjou!Kpio
VEJ!Hsbou
DD!Hsbou
Dpnnfsdjbm!Jodfoujwf
CQE
Vqqfs!Gmppst!Qsphsbn!)VG*
VG
Vqqfs!Gmppst!Qsphsbn!)VG*
VG
Jogjmm!Efwfmpqnfou!Qsphsbn
HSJQ!boe!EIHQ
HSJQ!boe!EIHQ
Sftjefoujbm!Jogsbtusvduvsf!Bttjtubodf!Qsphsbn
Hsbout!gps!Ifsjubhf!Dpotfswbujpo!Qsphsbn
2:913111Qsftfou!Ebz
!
Tpvsdf;!Qbsdfm-!cbtfe!po!ebub!qspwjefe!cz!uif!Djuz!pg!Tbjou!Kpio/!
Opuf;!Ebuf!sbohft!tipxo!bsf!gps!jmmvtusbujpo!qvsqptft!pomz/!HSJQ!sfgfst!up!Hsfbufs!Sftjefoujbm!Jodfoujwf!Qsphsbn/!EIHQ!sfgfst!up!Ejsfdu!
Ipnfpxofs!Hsbou!Qsphsbn/!CQE!sfgfst!up!Cvtjoftt!Qbsl!Efwfmpqnfou!Hsbou/!VEJ!Hsbou!sfgfst!up!Vscbo!Efwfmpqnfou!Jodfoujwf!Qsphsbn/!DD!
Hsbou!sfgfst!up!Dpotusvdujpo!Dibmmfohft!Hsbou/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!34!!
Qbsdfm!
!
!
!
3/4Dvssfou!Jodfoujwft
Uif!Djuz!pg!Tbjou!Kpio!dvssfoumz!pggfst!uxp!qsjnbsz!jodfoujwft!gps!efwfmpqjoh!beejujpobm!dpnnvojuz!ipvtjoh;!uif!
Vscbo!Efwfmpqnfou!Jodfoujwf!Qsphsbn boe!Dpotusvdujpo!Dibmmfohft!Hsbou)Gjhvsf!3/4*/!Uif!qvsqptf!pg!uif!
dvssfou!jodfoujwft!jt!up!fodpvsbhf!uif!dsfbujpo!pg!ofx!sftjefoujbm!vojut!jo!Tbjou!KpioÉt!ftubcmjtife!ofjhicpvsippet!
jo!uif!Dfousbm!Qfojotvmb-!xijdi!jodmveft!uif!Vqupxo-!Tpvui!Foe-!boe!Xbufsmpp!Wjmmbhf!ofjhicpvsippet/!
Gjhvsf!3/4
Dvssfou!Hsbou!Qsphsbnt!Pggfsfe!cz!uif!Djuz!pg!Tbjou!Kpio
Vscbo!Efwfmpqnfou!Jodfoujwf!Qsphsbn
Jogjmm!Qspkfdut
Dpotusvdujpo!Dibmmfohft!Hsbou
Wbdbou!Cvjmejoht
Vqqfs!Gmppst
!
Tpvsdf;!Qbsdfm-!cbtfe!po!ebub!qspwjefe!cz!uif!Djuz!pg!Tbjou!Kpio/!
Uiftf!jodfoujwft!bsf!pggfsfe!voefs!uif!Vscbo!Jojujbujwft qmbugpsn-!boe!qspwjef!gps!uif!gpmmpxjoh!jowftunfout;
2/Vscbo!Efwfmpqnfou!Jodfoujwf!Hsbou!Qsphsbn)bmtp!sfgfssfe!up!bt!Sftjefoujbm!Efotjuz!Hsbou*
Uijt!gvoejoh!tpvsdf!jt!qspwjefe!gps!wbdbou!cvjmejoht-!vqqfs!gmppst!ps!jogjmm!qspkfdut/
b/Jogjmm!Qspkfdut!ÄHsbou!gvoejoh!jt!mjnjufe!up!wbdbou!qbsdfmt!pg!mboe!xijdi!ibwf!cffo!vopddvqjfe!gps!bu!
mfbtu!pof!zfbs-!boe!xifsf!uif!qspqptfe!efwfmpqnfou!qspkfdu!dsfbuft!bu!mfbtu!uxp!ofx!sftjefoujbm!
vojut/!Gvoejoh!jt!bwbjmbcmf!pomz!up!qspkfdut!xijdi!bsf!mpdbufe!xjuijo!uifDfousbm!Qfojotvmb/
c/Wbdbou!Cvjmejoht!Ä!Fmjhjcmf!qspkfdut!bsf!mpdbufe!xjuijo!uif!Dfousbm!Qfojotvmb!boe!bsf!mjnjufe!up!tjuft!
xifsf!uif!cvjmejoh!jo!rvftujpo!ibt!cffo!wbdbou!gps!bu!mfbtu!pof!zfbs/!Uif!qspkfdu!nvtu!dsfbuf!bu!mfbtu!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!35!!
Qbsdfm!
!
!
!
pof!ofx!sftjefoujbm!voju!boe!ibwf!b!njojnvn!dpotusvdujpo!dptu!pg!%61-111/!Uif!wbdbou!cvjmejohÉt!
sftjefoujbm!bttfttnfou!wbmvf!nvtu!bmtp!cf!mpxfs!uibo!%81-111!psibwf!b!qsjps!jotujuvujpobm!vtf!
gvodujpo/
d/Vqqfs!Gmppst!ÄFmjhjcmf!qspkfdut!bsf!mpdbufe!xjuijo!b!efgjofe!cpvoebsz!nbq!uibu!hfofsbmmz!jodmveft!
bsfbt!jo!uif!opsuifso!qpsujpo!pg!uif!Dfousbm!Qfojotvmb/!Qspqptfe!qspkfdut!nvtu!dsfbuf!bu!mfbtu!pof!
ofx!sftjefoujbm!voju!xjui!bu!mfbtu!31&!pg!uif!sfefwfmpqfe!gmpps!tqbdf!vujmj{fe!gps!sftjefoujbm!vtf/!
Mbtumz-!uif!cvjmejohÉt!vqqfs!gmppst!nvtu!dvssfoumz!cf!vtfe!gps!xbsfipvtjoh!ps!bsf!wbdbou/
3/Dpotusvdujpo!Dibmmfohft!Hsbou
Uijt!hsbou!sfdphoj{ft!vojrvf!dibmmfohft!bttpdjbufe!xjui!efwfmpqnfou!po!uif!Dfousbm!Qfojotvmb/!Uif!
qsphsbn!dpvme!qbz!vq!up!36&!pg!uif!upubm!dptu!gps!tfmfdu!xpsl-!ps!6&!pg!upubm!dpotusvdujpo!dptut-!
efqfoejoh!po!uif!qspkfdu!uzqf/!Hsbou!gvoejoh!uispvhi!uijt!qsphsbn!jt!pomz!bwbjmbcmf!up!bqqmjdbout!xip!
bsf!fmjhjcmf!voefs!pof!pg!uif!uisff!tusfbnt!jo!uif!Vscbo!Efwfmpqnfou!Jodfoujwf!qsphsbn/!Fmjhjcmf!
qspkfdu!dptut!jodmvef;
j/Ofx!tqsjolmfs!tztufn
jj/Tfdpoebsz!fhsftt!vqhsbeft
jjj/Btcftupt0mfbe!qbjou!sfnpwbm
jw/Tusvduvsbm!ps!gpvoebujpo!sfqbjst!
w/Dpotusvdujpo!gps!gjsf!tfqbsbujpo!tuboebset!
wj/Lopc!boe!uvcf!xjsjoh!sfqmbdfnfou
wjj/Dvuujoh!xjoepxt!uispvhi!csjdl!ps!tupof
wjjj/Csfbljoh!boe!sfnpwjoh!spdl!gps!tjuf!qsfqbsbujpo
jy/Sfnfejbujpo!pg!dpoubnjobufe!tpjmt
y/Fyufotjpo!pg!tfxfs!tfswjdft!xifsf!pomz!dpncjofe!tfxfst!fyjtu!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!36!!
Qbsdfm!
!
!
!
!!!
Ipvtjoh!Bddfmfsbups!Gvoe!Hsbou!Qsphsbn
ui
Jo!beejujpo!up!uif!bcpwf!opufe!qsphsbnt-!bu!uif!Pdupcfs!9-!3135-Dpnnpo!Dpvodjm!nffujoh-!uif!Tbjou!
Kpio!Hspxui!Dpnnjuuff!sfdpnnfoefe!uibu!Dpnnpo!Dpvodjm!bqqspwf!b!tfsjft!pg!beejujpobm!hsbou!
qpmjdjft!voefs!uif!Ipvtjoh!Bddfmfsbups!Gvoe!)IBG*!qsphsbn/!Bt!uiftf!qpmjdjft!bsf!opu!zfu!
jnqmfnfoufe-!ju!xjmm!cf!jnqpsubou!up!bttftt!gvuvsf!qfsgpsnbodf!pg!uif!qsphsbn/!Uif!gpmmpxjoh!qspwjeft!
b!csjfg!eftdsjqujpo!pg!fbdi!hsbou!tusfbn;
2/Dpotusvdujpo!Dibmmfohft!Hsbou ÄNpejgjdbujpo!pg!uif!fyjtujoh!hsbou-!xijdi!tvqqpsut!dibmmfohft!
sfmbufe!up!dpotusvdujpo!boe!tjuf!qsfqbsbujpo!jo!qbsujdvmbs!bsfbt!pg!Tbjou!Kpio/!Uif!vqebufe!hsbou!
qspwjeft!vq!up!%21-111!qfs!voju!gps!vq!up!26!vojut/!Uijt!jt!tjnjmbs!up!uif!Dpotusvdujpo!Dibmmfohft!
Hsbou!uibu!xbt!qsfwjpvtmz!bwbjmbcmf!uispvhi!uif!Djuz!gps!hsffogjfme!efwfmpqnfou!boe!dpwfsfe!b!
qpsujpo!pg!uif!dptut!bttpdjbufe!xjui!dibmmfohjoh!tjuft!uibu!xfsf!fodvncfsfe!cz!spdl/!
3/Njttjoh!Njeemf!Ipvtjoh!Hsbou ÄUif!qvsqptf!pg!uijt!tusfbn!jt!up!jodfoujwj{f!dsfbujpo!pg!
buubjobcmf!ipvtjoh!uispvhi!tvqqpsujoh!njttjoh!njeemf!efwfmpqnfou/!Fybnqmft!jodmvef!
tfdpoebsz!tvjuft!xjuijo!tfnj.efubdife!vojut-!ps!njdsp.upxoipvtft/!Uif!hsbou!qspwjeft!%6-111!
qfs!voju-!vq!up!%261-111!qfs!bqqmjdbujpo/
4/Sfwjubmj{joh!Sfoubm!Tupdl!Hsbou ÄUijt!tusfbn!fodpvsbhft!qspqfsuz!pxofst!up!sfnfejbuf!boe!
sfjowftu!jo!fyjtujoh!ipvtjoh!tupdl!up!tvqqpsu!uif!dsfbujpo!pg!npsf!bggpsebcmf!ipvtjoh/!Vq!up!
%21-111!jt!bwbjmbcmf!qfs!voju-!mjnjufe!up!%61-111!qfs!bqqmjdbujpo/!
Uif!IBG!gvoejoh!tusfbn!jt!b!ufnqpsbsz!qsphsbn-!tfu!up!foe!jo!3137/!Bqqmjdbujpot!bsf!fyqfdufe!up!pqfo!
jo!Opwfncfs!3135!boe!jt!joufoefe!up!tvqqpsu!nvojdjqbm!efwfmpqnfou!hpbmt!boe!gvmgjmmjoh!uif!DjuzÉt!IBG!
gvoejoh!bhsffnfou!xjui!DNID/!Uif!Djuz!sfdfjwfe!bmnptu!%:/3!njmmjpo!jo!IBG!gvoejoh-!bqqspyjnbufmz!
ibmg!pg!xijdi!jt!up!cf!bmmpdbufe!up!hsbou!gvoejoh/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!37!!
Qbsdfm!
!
!
!
3/5Qfsgpsnbodf!pg!Dvssfou!Qsphsbnt
Uif!Djuz!pg!Tbjou!Kpio!qspwjefe!Qbsdfm!xjui!ebub!efubjmjoh!hsbout!qspwjefe!up!qsjwbuf!efwfmpqnfou!qspkfdut!
cfuxffo!3127!boe!3133/!Uiftf!qspkfdut!xfsf!bmm!jttvfe!gvoet!voefs!cpui!uif!Vscbo!Efwfmpqnfou!Jodfoujwf!
Qsphsbn!boe!Dpotusvdujpo!Dibmmfohft!Hsbou/!Uiftf!hsbout!qspwjef!gvoejoh!xjuijo!uisff!dpnnvojujft!jo!dfousbm!
Tbjou!Kpio;!uif!Tpvui!Foe-!Vqupxo-!boe!Xbufsmpp!Wjmmbhf/!Gjhvsf!3/5jmmvtusbuft!uif!ovncfs!pg!qspkfdut!uibu!xfsf!
jttvfe!hsbout!jo!fbdi!hfphsbqiz-!bt!xfmm!bt!upubm!ovncfs!pg!vojut!efmjwfsfe-!ps!voefs!efwfmpqnfou/
Gjhvsf!3/5efnpotusbuft!uif!ovncfs!pg!qspkfdut!boe!uifjs!sftjefoujbm!voju!upubmt!tvqqpsufe!cz!uif!hsbou!qsphsbnt!
tjodf!3127/!B!upubm!pg!29!qspkfdut!ibwf!sfdfjwfe!gvoejoh-!tvqqpsujoh!uif!efmjwfsz!pg!459!sftjefoujbm!vojut/!Uif!
bwfsbhf!ovncfs!pg!vojut!efmjwfsfe!qfs!qspkfdu!jt!2:-!tvhhftujoh!uibuÅjo!hfofsbmÅuif!qspkfdut!uibu!bsf!sfdfjwjoh!
tvqqpsu!bsf!tnbmm!jo!tdbmf!boe!sfqsftfou!bo!jodsfnfoubm!jodsfbtf!jo!voju!efmjwfsz!jo!Tbjou!Kpio/!Uif!voju!dpvou!
frvbuft!up!bo!bwfsbhf!boovbm!efmjwfsz!pg!61!vojut!tvqqpsufe!jo!qbsu!cz!gvoejoh!gspn!uif!hsbou!qsphsbnt/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!38!!
Qbsdfm!
!
!
!
Gjhvsf!3/5!
Qspkfdu!boe!Voju!Dpvou!cz!Hfphsbqiz-!3127.3133
VojutOvncfs!pg!Qspkfdut
23!qspkfdut
265!vojut
247!vojut
5!qspkfdut
69!vojut
3!qspkfdut
Tpvui!FoeVqupxoXbufsmpp!Wjmmbhf
!
Tpvsdf;!Qbsdfm-!cbtfe!po!ebub!qspwjefe!cz!uif!Djuz!pg!Tbjou!Kpio/!
Gjhvsf!3/6efnpotusbuft!uif!upubm!gjobodjbm!wbmvf!pg!hsbout!qspwjefe!up!fmjhjcmf!dpotusvdujpo!qspkfdut!cfuxffo!3127!
boe!3133/!B!upubm!pg!kvtu!pwfs!uisff!njmmjpo!epmmbst!xbt!qspwjefe!up!tvqqpsu!uif!efwfmpqnfou!pg!ofx!qspkfdut-!xjui!
uif!wbtu!nbkpsjuz!)8:&*!pggfsfe!uispvhi!uif!Sftjefoujbm!Efotjuz!Hsbou/!Uif!mbshftu!tibsf!pg!gvoejoh!xbt!gpdvtfe!po!
qspkfdut!mpdbufe!jo!Tbjou!KpioÉt!Vqupxo!ofjhicpvsippe/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!39!!
Qbsdfm!
!
!
!
Gjhvsf!3/6!
Hsbou!Gvoejoh!cz!Qsphsbn!boe!Hfphsbqiz!)3127.3133*
Hsbou!Bnpvou
%2-711-111
Dpotusvdujpo!Dibmmfohft!HsbouSftjefoujbm!Efotjuz!Hsbou
%2-511-111
%2-311-111
%2-111-111
%:7:-375!
%911-111
%711-111
%92:-788!
%511-111
%6:7-649!
%556-683!
%311-111
%245-173!
%73-134!
%1
Tpvui!FoeVqupxoXbufsmpp!Wjmmbhf
Hfphsbqiz
Tpvsdf;!Qbsdfm-!cbtfe!po!ebub!qspwjefe!cz!uif!Djuz!pg!Tbjou!Kpio/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!3:!!
Qbsdfm!
!
!
!
!
Uif!Xfouxpsui!.:6!Xfouxpsui!Tusffu
Uif!mbshftu!qspkfdu!up!sfdfjwf!gvoejoh!uispvhi!uif!dvssfou!hsbou!qsphsbn!xbt!:6!Xfouxpsui!Tusffu!jo!uif!
Tpvui!Foe/!Uif!qspkfdu-!dpnqmfufe!jo!3133-!sfqmbdfe!b!wbdbou!divsdi!xjui!b!tjy.tupsfz-!94.voju!sfoubm!
bqbsunfou!cvjmejoh/!Uif!qspkfdu!sfdfjwfe!gvoejoh!bt!bo!jogjmm!qspkfdu!xjuijo!uif!Sftjefoujbm!Efotjuz!Hsbou!boe
bmtp!sfdfjwfe!tvqqpsu!uispvhi!uif!Dpotusvdujpo!Dibmmfohft!Hsbou/!B!upubm!pg!bmnptu!%717-111!jo!hsbou!
gvoejoh!xbt!qspwjefe-!sfqsftfoujoh!4/7&!pg!uif!ftujnbufe!%28!njmmjpo!dptu!pg!uif!qspkfdu-!ps!bcpvu!%8-411!pg!
tvqqpsu!qfs!voju/!
Tpvsdf;!Uif!Xfouxpsui
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!41!!
Qbsdfm!
!
!
!
Gjhvsf!3/7!jmmvtusbuft!uif!bwfsbhf!hsbou!bnpvou!qspwjefe!cz!fbdi!hsbou!qsphsbn/!Po!bwfsbhf-!bmnptu!%9-811!qfs!
voju!jo!hsbou!gvoejoh!xbt!qspwjefe!up!fmjhjcmf!qspkfdut!cfuxffo!3127!boe!3133/!Uif!wbtu!nbkpsjuz!pg!uijt!gvoejoh!
xbt!qspwjefe!uispvhi!pof!pg!uif!uisff!tusfbnt!pg!uif!Sftjefoujbm!Efotjuz!qsphsbn!)Jogjmm-!Vqqfs!Gmppst!boe!Wbdbou!
Cvjmejoht*/!Uijt!gvoejoh!upubmmfe!bmnptu!%7-:11!qfs!voju!po!bwfsbhf-!ps!bmnptu!91&!pg!upubm!gvoejoh!qspwjefe/!Uif!
ijhiftu!hsbou!pggfsfe!po!b!qfs!voju!cbtjt!xbt!pwfs!%52-111!gps!uif!efwfmpqnfou!pg!b!uxp.voju!qspkfdu!xjuijo!b!wbdbou!
cvjmejoh/!
Uif!hsbout!jttvfe!uispvhi!cpui!qsphsbnt!dpnqsjtfe-!po!bwfsbhf-!5/:&!pg!uif!upubm!ftujnbufe!dpotusvdujpo!wbmvf!pg!
uif!qspkfdut/!Qfs!qspkfdu-!uijt!sbohfe!gspn!b!mpx!pg!4/2&!pg!uif!upubm!wbmvf!up!b!ijhi!pg!21/9&/!Xijmf!uiftf!qsphsbnt!
bsf!jnqpsubou!up!jodfoujwj{fofx!efwfmpqnfou-!uif!hsbou!qspwjefe!jt!vomjlfmz!up!ibwf!cffo!uif!ujqqjoh!qpjou!uibu!
qvtife!b!qspkfdu!gspn!cfjoh!gjobodjbmmz!vogfbtjcmf!up!gfbtjcmf/!Uijt!jt!dpotjtufou!xjui!uif!gjoejoht!pg!uif!nbslfu!
tpvoejoh!joufswjfxt!dpoevdufe!cz!Qbsdfm!jo!Tfqufncfs!3135)Tff!Tfdujpo!4/1*/
Gjhvsf!3/7
Bwfsbhf!Hsbou!qfs!Voju!cz!Qsphsbn
Dpotusvdujpo!Dibmmfohft!
Hsbou!qfs!Voju
%2-955!
32&
Sftjefoujbm!Efotjuz!
Hsbou!qfs!Voju
%7-966!
8:&
Tpvsdf;!Qbsdfm-!cbtfe!po!ebub!qspwjefe!cz!uif!Djuz!pg!Tbjou!Kpio/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!42!!
Qbsdfm!
!
!
!
Gjhvsf!3/8!jmmvtusbuft!uif!upubm!bnpvou!pg!hsbou!gvoejoh!cz!qsphsbn!qspwjefe!cz!uif!Djuz!pg!Tbjou!Kpio!voefs!uif!
Sftjefoujbm!Efotjuz!Hsbou!cfuxffo!3127!boe!3133/!Uif!nptu!qpqvmbs!qsphsbn!vujmj{fe!pwfs!uif!qfsjpe!tvswfzfeÅ
cz!gbsÅxbt!uif!Jogjmm!pqujpo-!uispvhi!xijdi!vqxbset!pg!92&!pg!bmm!gvoejoh!xbt!qspwjefe/!Cpui!uif!Vqqfs!Gmppst!boe!
Wbdbou!Cvjmejoh!qsphsbnt!tvqqpsufe!cfuxffo!:&!boe!21&!pg!gvoejoh!fbdi/!
Gjhvsf!3/8
Sftjefoujbm!Efotjuz!Hsbou!Gvoejoh!cz!Qsphsbn!Bsfb-!3127.3133
Hsbou!Upubm
%3-611-111
%3-111-111
%2-:33-2:3!
%2-611-111
%2-111-111
%611-111
%352-319!
%333-189!
%1
JogjmmVqqfs!GmppstWbdbou!Cvjmejoh
Qsphsbn
Tpvsdf;!Qbsdfm-!cbtfe!po!ebub!qspwjefe!cz!uif!Djuz!pg!Tbjou!Kpio/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!43!!
Qbsdfm!
!
!
!
Gjhvsf!3/9!tipxt!uif!ovncfs!pg!vojut!xijdi!ibwf!cffo!tvqqpsufe!cz!fbdi!gvoejoh!tusfbn!xjuijo!uif!Sftjefoujbm!
Efotjuz!Hsbou!Qsphsbn/!Uif!wbtu!nbkpsjuz!pg!vojut!qspwjefe!ibwf!cffo!efmjwfsfe!bt!qbsu!pg!uif!Jogjmm!tusfbn!)82&*-!
eftqjuf!bo!frvbm!ovncfs!pg!hsbout!)tjy*!cfjoh!qspwjefe!uispvhi!fbdi!qsphsbn/!Bt!uif!Jogjmm!qsphsbn!jt!ubshfufe!
mbshfmz!upxbset!wbdbou!ps!voefsvujmj{fe!qspqfsujft-!ju!mjlfmz!qsftfout!uif!nptu!pqqpsuvojujft!gps!beejoh!uif!mbshftu!
ovncfs!pg!ofx!sftjefoujbm!vojut!up!uif!mpdbm!ipvtjoh!tupdl/!Uif!puifs!bwbjmbcmf!tusfbnt!bsf!mjnjufe!cz!uif!tj{f!pg!uif!
fyjtujoh!tusvduvsft/!Bt!b!sftvmu-!jo!ufsnt!pg!fggfdujwfoftt-!uif!Jogjmm!tusfbn!jt!dmfbsmz!efmjwfsjoh!uif!ijhiftu!ovncfs!pg!
vojut!qfs!qspkfdu/!
Gjhvsf!3/9
Tibsf!pg!Vojut!Dpnqmfufe!cz!Hsbou!Qsphsbn
Wbdbou!Cvjmejoh
58!vojut!
24&
Vqqfs!Gmppst
66!vojut!
27&
JoÑmm
357!vojut!
82&
Tpvsdf;!Qbsdfm-!cbtfe!po!ebub!qspwjefe!cz!Djuz!pg!Tbjou!Kpio/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!44!!
Qbsdfm!
!
!
!
Cfuxffo!3127!boe!3133-!b!upubm!pg!2-294!ipvtjoh!tubsut!xfsf!sfdpsefe!bdsptt!uif!Djuz!pg!Tbjou!Kpio-!sfqsftfoujoh!
bo!bwfsbhf!boovbm!sbuf!pg!2:8!qfs!zfbs/!Pg!uiptf!ipvtjoh!tubsut-!459!sfdfjwfe!hsbou!tvqqpsu!uispvhi!uif!Djuz!pg!
Tbjou!Kpio-!sfqsftfoujoh!3:&!pg!upubm!tubsut/!Bmuipvhi!ju!jt!vodmfbs!jg!uif!hsbou!tvqqpsu!qspwjefe!xbt!b!ofdfttbsz!
joqvu!up!bdijfwjoh!gjobodjbm!wjbcjmjuz!gps!boz!pg!uiftf!qspkfdut-!b!tjhojgjdbou!bnpvou!pg!ipvtjoh!tubsut!jo!Tbjou!Kpio!
pwfs!uif!tvswfzfe!qfsjpe!cfofgjufe!gspn!nvojdjqbm!tvqqpsu/!Bu!uif!tbnf!ujnf-!uiftf!qspkfdut!bewbodfe!uif!
nvojdjqbm!qsjpsjujft!vqpo!xijdi!uif!tvqqpsu!xbt!dpoejujpobm/!
Gjhvsf!3/:
Ipvtjoh!Tubsut!jo!Tbjou!Kpio!cz!Tvqqpsu!Tubuvt-!3127.3133
Hsbou!TvqqpsufeOpu!Hsbou!Tvqqpsufe-!
459!vojut946!vojut
Tpvsdf;!Qbsdfm-!cbtfe!po!ebub!qspwjefe!cz!Djuz!pg!Tbjou!Kpio!boe!DNID/!
Gvsuifs-!uif!Djuz!pg!Tbjou!Kpio!ibt!pvumjofe!b!efwfmpqnfou!ubshfu!pg!536!ipvtjoh!tubsut!qfs!zfbs!up!beesftt!
qpqvmbujpo!hspxui!efnboet/!Ipvtjoh!tubsut!bsf!efgjofe!cz!DNID!bt!pddvssjoh!xifo!b!gpvoebujpo!jt!qpvsfe/!Bt!b!
sftvmu-!sftjefoujbm!vojut!efmjwfsfe!uispvhi!uif!dpowfstjpo!pg!wbdbou!cvjmejoht!ps!tfdpoe!gmpps!vojut!xpvme!opu!cf!
jodmvefe!jo!uijt!upubm/!Pg!uif!bwfsbhf!boovbm!tubsu!sbuf!pg!2:8!vojut!cfuxffo!3127!boe!3133-!Tbjou!KpioÉt!Jogjmm!hsbou!
tusfbn!ibt!tvqqpsufe!bqqspyjnbufmz!52!tubsut!qfs!zfbs/!Pwfs!uif!qfsjpe-!uif!hsbou!qsphsbn!ibt!tvqqpsufe!uif!
efwfmpqnfou!pg!vq!up!21&!pg!uif!Djuz!pg!Tbjou!KpioÉt!ipvtjoh!tubsut!hpbm/!Bt!tvdi-!ju!jt!xpsui!fyqmpsjoh!
pqqpsuvojujft!up!fyqboeps!ejwfstjgzuif!qsphsbn!pggfsjoh!up!jefoujgz!pqqpsuvojujft!up!jodsfbtf!ipvtjoh!
tvqqmz!dsfbujpo!jo!tvqqpsu!pg!bdijfwjoh!uif!nvojdjqbm!ubshfu/
Uby!Sfwfovf!boe!Qbzcbdl
Qbsdfm!voefsuppl!b!sfwjfx!pg!uby!bttfttnfou!ebub!boe!bttpdjbufe!sfwfovft!gps!tfmfdu!qspkfdut!xifsf!dpnqsfifotjwf!
jogpsnbujpo!fyjtut/!Gjhvsf!3/21tipxt!uif!bttfttfe!wbmvft!pg!uiftf!tfmfdufe!qspkfdut!jo!uif!zfbs!cfgpsf!uifjs!
sfefwfmpqnfout!xfsf!jojujbufe-!dpnqbsfe!up!bttfttfe!wbmvft!pof!zfbs!bgufs!fbdi!qspkfdu!xbt!dpnqmfufe/!Uif!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!45!!
Qbsdfm!
!
!
!
gjhvsf!jmmvtusbuft!uibu!bgufs!dpotusvdujpo!pddvst!uif!bttfttfe!wbmvft!pg!uiftf!qspqfsujft!jodsfbtfe!tjhojgjdboumz/!Uiftf!
3
jodsfbtft!ejggfsfe!xjefmz!efqfoejoh!po!uif!vtf!pg!uif!qspqfsuz!cfgpsf!sfefwfmpqnfou/
Uif!jodsfbtf!jo!bttfttfe!wbmvf!wbsjfe!xjefmz-!sbohjoh!cfuxffo!b!61&!jodsfbtf!up!pwfs!331!ujnft!uif!psjhjobm!wbmvf/!
Jo!bmm!dbtft-!uif!sfefwfmpqnfou!pg!uif!tvswfzfe!qspqfsujft!sftvmufe!jo!b!tjhojgjdbou!hspxui!jo!bttfttnfou!wbmvf!bt!b!
sftvmu!pg!jnqspwfnfout-!xijdi!sftvmut!jo!npsf!uby!sfwfovf!cfjoh!hfofsbufe!gspn!fbdi!qspqfsuz!jo!rvftujpo/!
Gjhvsf!3/21
Bttfttfe!Wbmvft!pg!Tfmfdufe!Qspkfdut!Qsf.Dpotusvdujpo!Pof!Zfbs!Bgufs!Dpnqmfujpo
Wbmvf!Qsf.Efwfmpqnfou
%27-9:1-611!
Wbmvf!Pof!Zfbs!Bgufs!Dpnqmfujpo
%:-276-111!
%6-52:-811!
%6-231-111!
%3-778-611!
%3-432-411!
%2-3:7-111!
%2-261-711!
%989-611!%986-111!
%976-111!
%6::-811!
%62:-511!
%532-711!
%516-511!%511-111!
%46:-211!
%32:-111!
%267-411!%266-511!
%239-111!
%215-711!
%:5-811!
%87-611!
%47-511!
%29-111!
413.417:4.::246.24:93!Hfsnbjo34.49!Ljoh2!Dibsmpuuf81.87!Ljoh3:!Mpxfs:63:8:9!Tzeofz57!Qsjodftt
QsjodfHfsnbjoVojpoTusffuTusffu!0!!39!.TusffuTusffuDpwf!MppqXfouxpsuiDboufscvszXfmmjohupoTusffuTusffu!0!57!.
XjmmjbnTusffuTusffu49!Ljoh0!32!MpxfTusffuTusffuSpx!0!2265!Qsjodftt
TusffuTusffuDpwf!MppqXfmmjohupoTusffu
Spx
Tpvsdf;!Qbsdfm-!cbtfe!po!jogpsnbujpo!qspwjefe!cz!Djuz!pg!Tbjou!Kpio/!Qsf.Efwfmpqnfou!wbmvft!cbtfe!po!uby!bttfttnfou!wbmvf!jo!uif!zfbs!qsjps!up!
sfefwfmpqnfou!jojujbujpo/!
!
!Ju!jt!jnqpsubou!up!opuf!uibu!uif!bttfttfe!wbmvf!pg!b!hjwfo!qspqfsuz!jt!efufsnjofe!cbtfe!po!b!xjef!sbohf!pg!gbdupst!boe!bobmztjt/!Uiftf!gbdupst!
dpvme!jodmvef!dpnqbsbcmf!tbmft!bdujwjuz-!nbdspfdpopnjd!usfoet-!tvsspvoejoh!jogsbtusvduvsf!jowftunfout!boe!ofjhicpvsippe!qfsdfqujpo/!!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!46!!
Qbsdfm!
!
!
!
Gjhvsf!3/22!jmmvtusbuft!ipx!uif!qspqfsuz!ubyft!qbje!dibohfe!bgufs!tfmfdufe!hsbou.sfdfjwjoh!qspkfdut!xfsf!dpnqmfufe/!!
Uif!gjhvsf!tipxt!uif!ejggfsfodf!jo!uif!bnpvou!pg!uby!sfwfovf!qbje!cz!fbdi!qspkfdu!jo!uif!zfbs!qsjps!up!
sfefwfmpqnfou-!dpnqbsfe!up!tubcjmj{fe!qbznfout!sfdfjwfe!bgufs!dpnqmfujpo/!Jo!bmm!dbtft-!uby!sfwfovft!sfdfjwfe!
hsfx!bgufs!sfefwfmpqnfou!xbt!dpnqmfufe-!jo!tpnf!dbtft!tvctuboujbmmz/!
Uif!gjhvsf!bmtp!tipxt!b!dbmdvmbufe!qbzcbdl!qfsjpe!jo!psefs!up!fwbmvbuf!ipx!nboz!zfbst!ju!xpvme!ublf!gps!uif!ofu!
jodsfbtf!jo!qspqfsuz!uby!sfwfovf!pof!zfbs!bgufs!dpnqmfujpo!up!gvmmz!bddpvou!gps!uif!wbmvf!pg!uif!hsbout!qbje!up!
tvqqpsu!fbdi!qspkfdu/!Uijt!dbmdvmbufe!qbzcbdl!qfsjpe!tipvme!cf!dpotjefsfe!dpotfswbujwf-!bt!ju!jt!dbmdvmbufe!cbtfe!
po!sfwfovft!sfdfjwfe!pof!zfbs!bgufs!fbdi!qspkfdu!jt!dpnqmfufe/!Jodsfbtft!jo!bttfttnfou!wbmvf!boe!qspqfsuz!uby!
sbuft!jo!tvctfrvfou!boe!gvuvsf!zfbst!dpvme!sftvmu!jo!ijhifs!ubyft!qbje!boe!tvctfrvfoumz!tipsufs!qbzcbdl!qfsjpet/!
Uif!gjhvsf!tipxt!uibu!bdsptt!qspkfdut!tvswfzfe-!uif!bwfsbhf!qbzcbdl!qfsjpe!xbt!bqqspyjnbufmz!6!zfbst/
Gjhvsf!3/22
Jodsfbtf!jo!Qspqfsuz!Uby!Qbzbcmf!boe!Hsbou!Qbzcbdl!Qfsjpe!gps!Tfmfdufe!Qspkfdut
Jodsfbtf!jo!Boovbm!
Zfbst!up!Qbz!cbdl
Uby!Sfwfovf
!%411-11121
%383-411!
Uby!Sfwfovf
!%361-111
9
!%311-111
7
%254-211!
!%261-111
5
%88-211!
!%211-111
%86-511!
%24-411!
%5-411!
%23-:11!
%35-611!
3
%39-411!
!%61-111
%26-211!
!%.1
½½½½
uuuuuu
fo5
h
ffffff
6
p
o
x
!
fffjfff
u
.
ssssss
p
!
Luu
uuuuh
!
M
7
TTTT!TT
o
!!!9!!!
j
5
m
2
!
z
m
4
ooi
h
j0
js
.u
n3
!
f
!
!
o
s
bb
u
b
jv
0
j
9
!
p
m
f
cX
L
m
n
n
3
!!
jqs
f
!
ssx
!
s
7u2
pf
ff0u
u
X
!
82
o
!
p
!
uT
.
o
H
H
!
f
0
M
f!!
f
!
1!
b
t
d
:3
ft
8f
X
x
D
s
o!
:9
!
wf
u
j
.
p
s6
:d
p
T
4
S
!
:
Q
o
3!
!
Dj
:
h
!
os
7
s
o
Q
p
j
1
f!
u
4L
7
!h
x
.
5
9o
p
3
j
m
M
4
1
m
!
.
4
f
:
4
3
3
X
!
8
Tpvsdf;!Qbsdfm-!cbtfe!po!ebub!qspwjefe!cz!Djuz!pg!Tbjou!Kpio/!!
Opuf;!Ovncfst!ibwf!cffo!spvoefe!up!uif!ofbsftu!%211/!Uby!sfwfovf!jodsfbtf!jt!dbmdvmbufe!cbtfe!po!uif!ejggfsfodf!jo!ubyft!qbje!jo!uif!zfbs!
qsjps!up!efwfmpqnfou!jojujbujpo!dpnqbsfe!up!uif!gjstu!zfbs!pg!wbmvf!bgufs!dpnqmfujpo/!Gjhvsf!jt!gps!jmmvtusbujwf!qvsqptft!pomz/!!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!47!!
Qbsdfm!
!
!
!
Jo!bhhsfhbuf-!uif!jodsfbtfe!uby!sfwfovf!sfdfjwfe!gspn!uif!tfmfdufe!qspkfdut!pof!zfbs!bgufs!fbdi!xbt!dpnqmfufe!
upubmt!bmnptu!%786-111/!Uif!dpssftqpoejoh!upubm!wbmvf!pg!uif!hsbout!qspwjefe!up!uiftf!tfmfdufe!qspkfdut!xbt!kvtu!
pwfs!%3!njmmjpo/!Dpotfswbujwfmz!)j/f/-opu!bddpvoujoh!gps!qpufoujbm!uby!sfwfovf!jodsfbtft!jo!tvctfrvfou!zfbst*-!uif!
Djuz!pg!Tbjou!Kpio!xpvme!hfofsbuf!upubm!sfwfovft!gspn!uiftf!tfmfdufe!qspkfdut!up!dpwfs!uif!wbmvf!pg!uif!jojujbm!
hsbou!pvumbz!jo!bqqspyjnbufmz!uisff!zfbst/!!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!48!!
Qbsdfm!
!
!
!
JodfoujwfDbtf!Tuvejft
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!49!!
Qbsdfm
4/2Pwfswjfx
B!ovncfs!pg!puifs!nvojdjqbmjujft!jo!Dbobeb!dvssfoumz!fnqmpz!wbsjpvt!uzqft!pg!jodfoujwft!up!tqvs!efwfmpqnfou!boe!
foibodf!ofjhicpvsippet/!Bt!xjmm!cf!ejtdvttfe!jo!uijt!tfdujpo-!gjwf!nvojdjqbmjujft!xfsf!tfmfdufe!bt!dbtf!tuvejftgps!
jodfoujwft!uif!Djuz!pg!Tbjou!Kpio!dpvme!dpotjefs/!Uiftf!nvojdjqbmjujft!bmm!sfmbuf!up!Tbjou!Kpio!jo!pof!xbz!ps!bopuifs-!
xifuifs!uifz!tibsf!b!hfphsbqijdbm!sfhjpo!jo!uif!Nbsjujnfttvdi!bt!Npodupo-!Dibsmpuufupxo-!ps!Ibmjgby-!ibwf!b!
tjnjmbs!qpqvmbujpo!tj{f!bt!jo!Mfuicsjehf-!ps!bo!bsfb!uibu!Tbjou!Kpio!dpvme!tppo!hspx!joup!boe!sfqmjdbuf-!mjlf!Ptibxb/!
Fbdi!pg!uif!gjwf!nvojdjqbmjujft!xjmm!cf!fybnjofe!gps!uifjs!efwfmpqnfou!jodfoujwft!pggfsfe-!ipx!gvoejoh!jt!pcubjofe!
boe!vujmj{fe-!boe!ipxuifz!efgjof!bggpsebcmf!ipvtjoh/!
Npodupo
Npodupo-!Ofx!Csvotxjdl!jt!uif!uijse!mbshftu!djuz!jo!Bumboujd!Dbobeb!cbtfe!po!qpqvmbujpo/!Mpdbufe!dfousbmmz!jo!uif!
qspwjodf-!ju!tfswft!bt!b!ivc!gps!tfwfsbm!joevtusjft/!Mjlf!nboz!ofbscz!dpnnvojujft-!Npodupo!ibt!tffo!tjhojgjdbou!
hspxui!jo!sfdfou!zfbst/!Up!bddpnnpebuf!uijt!hspxui-!uif!Djuzibt!jnqmfnfoufe!b!iboegvm!pg!jodfoujwft!up!
fodpvsbhf!eftjsfe!efwfmpqnfou-!tqfdjgjdbmmz!jo!uif!Epxoupxo!Dpnnvojuz!Jnqspwfnfou!Qmbo!Bsfb/!Uijt!Qmbo!Bsfb!
jodmveft!gjwf!ofjhicpvsippe!ejtusjdut!pg!uif!djuz-!obnfmz!uif!Dpsqpsbuf!Ejtusjdu-!Vqqfs!Xftu!Tjef!Ejtusjdu-!Opsui!
Joufsgbdf!Ejtusjdu-!Cspxotupoft!Ejtusjdu-!boe!uif!Sjwfsgspou!Ejtusjdu/!Uiftf!ejtusjdut!xfsf!jefoujgjfe!jo!b!tfdpoebsz!
qmbo-!uif!Epxoupxo!Dpsf!Dpnnvojuz!Jnqspwfnfou!Qmbo/!Uif!bsfb!dbo!cf!tffo!jo!uif!hsbqijd!cfmpx/!
Gjhvsf!4/2
NpodupoEpxoupxo!Dpnnvojuz!Jnqspwfnfou!QmboEjtusjdut
Tpvsdf;Djuz!pg!Npodupo!Epxoupxo!Dpsf!Dpnnvojuz!Jnqspwfnfou!Qmbo!)Efdfncfs!3128*/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!SfwjfxÄGjobm!Sfqpsu!!!!!4:
Qbsdfm!
!
!
!
Uif!gjstu!pg!uiftf!qsphsbnt!jt!uif!Sfefwfmpq!Hsbou!Qsphsbn/!Uijt!qsphsbn!bjnt!up!fodpvsbhf!sfibcjmjubujpo!boe!
efwfmpqnfou!pg!mboet!boe!cvjmejoht!uibu!bsf!dpoubnjobufe-!voefsvujmj{fe-!boe0ps!wbdbou!jo!uif!Epxoupxo!
Dpnnvojuz!Jnqspwfnfou!Qmbo!Bsfb/!Uif!hsbout!jo!uijt!qsphsbn!dbo!cf!qvu!upxbse!b!ovncfs!pg!bdujpot!tvdi!bt!
fowjsponfoubm!sfnfejbujpo-!MFFE0Hsffo!Hmpcft!cvjmejoh!dpnqpofout-!vscbo!eftjho-!cvjmejoh!sftupsbujpo-!boe!
npsf/!
Uif!tfdpoe!qsphsbn!vtfe!cz!Npodupo!jt!uif!Cvjmejoh!Qfsnju!boe!Qmboojoh!Gff!Frvjwbmfou!Hsbou!Qsphsbn/!Uijt!
qsphsbn!pggtfut!cvjmejoh!qfsnju!boe!qmboojoh!gfft!gps!fmjhjcmf!bqqmjdbout!xjuijo!uif!Epxoupxo!Dpnnvojuz!
Jnqspwfnfou!Qmbo!Bsfb/!Uijt!jt!epof!uispvhi!sfevdjoh!qspqfsuz!jnqspwfnfou!dptut!xjui!hsbout/!Uiftf!hsbout!dbo!
cf!bqqmjfe!up!qfsnju!bqqmjdbujpot-!czmbx!bnfoenfout-!wbsjbodft-!boe!npsf/!
Uif!qsphsbnt!ep!opu!ibwf!b!tfu!gvoejoh!bnpvou-!uif!hsbou!bnpvou!jt!dbmdvmbufe!cbtfe!po!uif!dsjufsjb!pvumjofe!
xjuijo!uif!qpmjdjft/!Uifz!ibwf!cffo!tvddfttgvm!jo!Npodupo!qfsibqt!uif!nptu!qspnjofou!qspkfdu!uibu!ibt!vujmj{fe!
uifn-!jt!uif!Uisff!Tjtufst!njyfe.vtfe!efwfmpqnfou/!Ifsf-!uif!efwfmpqfs!vtfe!cpui!qsphsbnt!up!tfdvsf!%3/:!njmmjpo!
jo!hsbout/!%3/7!njmmjpo!pg!uijt!xbt!hsboufe!uispvhi!uif!Sfefwfmpq!Hsbou!Qsphsbn-!xifsfbt!uif!sfnbjojoh!%411-111!
xbt!hjwfo!uispvhi!uif!Cvjmejoh!Qfsnju!boe!Qmboojoh!Gff!Frvjwbmfou!Hsbou!Qsphsbn!up!pggtfu!gfft/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!51!!
Qbsdfm!
!
!
!
Dibsmpuufupxo!
Uif!Djuz!pg!Dibsmpuufupxo!tfswft!bt!uif!ivc!gps!bmnptu!bmm!bdujwjuz!po!Qsjodf!Fexbse!Jtmboe/!Xjui!b!qpqvmbujpo!pwfs!
49-111-!uif!Djuz!ibt!tffo!voqsfdfefoufe!hspxui!pwfs!uif!mbtu!efdbef/!Evf!up!uijt-!efwfmpqnfou!ibt!cffo!bu!bo!bmm.
ujnf!ijhi-!xjui!uif!Djuz!sftqpoejoh!xjui!efwfmpqnfou!jodfoujwft/!
Dvssfoumz-!uif!Uby!Jodfoujwf!Tusbufhz!jt!vujmj{fe!up!fodpvsbhf!fyqbotjpo!boe!sfkvwfobujpo!pg!dpnnfsdjbm!
qspqfsujft!jo!uif!Djuz/!Uijt!jodfoujwf!dbo!cf!bqqmjfe!up!b!ovncfs!pg!cvtjofttft-!sbohjoh!gspn!dpnnfsdjbm!vtft!jo!
uif!epxoupxo!dpsf!bsfb!)tff!Gjhvsf!6*-!up!cjpufdiopmphz!vtft!jo!bqqspqsjbuf!{poft/!Uif!jodfoujwf!ejnjojtift!pwfs!b!
gjwf.zfbs!qfsjpe-!bt!tipxo!jo!uif!ubcmf!cfmpx/
Gjhvsf!4/3
Dibsmpuufupxo!Uby!Jodfoujwf!Tusbufhz
Nvojdjqbm!Qspqfsuz!Uby!Dpwfsfe!
Zfbscz!Jodfoujwft
Zfbs!Pof:1&
Zfbs!Uxp86&
Zfbs!Uisff71&
Zfbs!Gpvs56&
Zfbs!Gjwf41&
Zfbs!Tjy!boe!Cfzpoe1&
Tpvsdf;Vqmboe-!cbtfe!po!Djuz!pg!Dibsmpuufupxo!Uby!Jodfoujwf!Tusbufhz/
Ofx!dpotusvdujpo!ps!sfefwfmpqnfou!gps!cvtjofttft!jo!uif!cjpufdiopmphz-!gjobodjbm!tfswjdft-!JU-!bfsptqbdf!
boe!bewbodfe!nbovgbduvsjoh!tfdupst/!
Uif!sfmpdbujpo!pg!b!cvtjoftt!pqfsbujoh!po!b!qspqfsuz!uibu!jt!opu!{pofe!gps!uif!pqfsbujpo!pg!uibu!cvtjoftt!up!b!
mpdbujpo!uibu!jt!qspqfsmz!{pofe!gps!uif!pqfsbujpo!pg!uibu!cvtjoftt/!
Xjuijo!uif!epxoupxo!dpsf!bsfb-!sfefwfmpqnfou!pg!fyjtujoh!dpnnfsdjbm!qspqfsujft!gps!dpnnfsdjbm!
qvsqptft/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!52!!
Qbsdfm
Gjhvsf!4/4
Dibsmpuufupxo!EpxoupxoDpsf!Bsfb!Nbq
Tpvsdf;Djuz!pg!Dibsmpuufupxo!Gvuvsf!Mboe!Vtf!Nbq!)Kvof!37-!3135*/
Uif!Bggpsebcmf!Ipvtjoh!Qsphsbn!jt!tjnjmbs!jo!obuvsf!up!nptu!bggpsebcmf!ipvtjoh!jojujbujwft!bdsptt!Dbobeb/!Ju!jt!
eftjhofe!up!bttjtu!uif!qsjwbuf!boe!opo.qspgju!tfdupst!up!dsfbuf!bo!jowfoupsz!pg!bggpsebcmf!boe!bddfttjcmf!ipvtjoh!
pqujpot!gps!bmm!jo!uif!djuz/!Uijt!jt!bdijfwfe!uispvhi!ejnjojtijoh!qspqfsuz!ubyft!po!bggpsebcmf!ipvtjoh!vojut-!bnpoh!
puifs!nfbot!tvdi!bt!sfevdfe!qbsljoh!sfrvjsfnfout-!boe!cpovt!ifjhiu/!Jut!ejnjojtijoh!qspqfsuz!uby!tdbmf!pqfsbuft!
jo!uif!tbnf!nboofs!bt!uif!Uby!Jodfoujwf!Tusbufhz/!Uif!Djuz!pg!Dibsmpuufupxo!efgjoft!bggpsebcmf!ipvtjoh!bt;!
Boz!uzqf!pg!ipvtjoh!xifsfcz!uif!qspwjodjbm!hpwfsonfou!qspwjeft!tpnf!gpsn!pg!tvctjez!ps!sfou!bttjtubodf-!jodmvejoh!
qvcmjd-!opo.qspgju-!dp.pqfsbujwf!ipvtjoh-!ps!sfou!tvqqmfnfout!gps!qfpqmf!mjwjoh!jo!qsjwbuf!nbslfu!ipvtjoh/!
Bt!qfs!DibsmpuufupxoÉt!313403135!Dbqjubm!Cvehfu-!uif!Uby!Jodfoujwf!Tusbufhz!ibe!%251-111!bmmpdbufe!up!ju!gps!uibu!
zfbs/!Uif!jodfoujwf!jt!dvssfoumz!cfjoh!vtfe!cz!gjwf!tfqbsbuf!qspqfsujft-!mpdbufe!bmm!bspvoe!uif!djuz/!Uif!Bggpsebcmf!
Ipvtjoh!Qsphsbn!xbt!mjtufe!bu!%:6-111-!xifsf!ju!xbt!cfjoh!vujmj{fe!cz!uisff!qspqfsujft/!Nptu!pg!uiptf!vtjoh!uif!
qsphsbnt!xfsf!jo!uifjs!fbsmz!tubhft-!xjui!uif!nptu!sfdfou!jo!zfbs!pof!boe!uif!pmeftu!jo!zfbs!tfwfo/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!SfwjfxÄGjobm!Sfqpsu!!!!!53
Qbsdfm
Ibmjgby
Xijmf!Ibmjgby!jt!uif!mbshftu!djuz!jo!Bumboujd!Dbobeb-!uif!nvojdjqbmjuz!dvssfoumz!pomz!vujmj{ft!uxp!efwfmpqnfou!
jodfoujwft/!Bt!uif!djuz!qmbdft!b!tuspoh!fnqibtjt!po!ifsjubhf!qsftfswbujpo!boe!sftupsbujpo-!uifjs!dvssfou!efwfmpqnfou!
jodfoujwft!sfgmfdu!uiftf!wbmvft/!
Uif!uxp!efwfmpqnfou!jodfoujwf!qsphsbnt!vujmj{fe!cz!Ibmjgby!bsf!uifjs!Dpotfswbujpo!Hsbout!boe!Gvodujpobm!
Jnqspwfnfou!Hsbout/!Uif!Dpotfswbujpo!Hsbout!qspwjeft!hsbout!gps!61&!pg!uif!dptu!gps!nbufsjbmt!boe!mbcpvs!vq!up!
%61-111!gps!fyufsjps!xpsl!po!qspqfsujft/!Uijt!dbo!pomz!cf!bqqmjfe!gps!cz!qspqfsujft!jo!uif!Tdinjeuwjmmf!boe!Pme!
Tpvui!Tvcvsc!Ifsjubhf!Dpotfswbujpo!Ejtusjdut/!Uif!uxp!dpotfswbujpo!ejtusjdut!bsf!tipxo!cfmpx-!uifz!bsf!cpui!
bddpnqbojfe!cz!uifjs!pxo!cz.mbxt/!
Gjhvsf!4/5
Ibmjgby!Dpotfswbujpo!Hsbou!Ejtusjdut
Tpvsdf;Djuz!pg!Ibmjgby)iuuqt;00xxx/ibmjgby/db0ipnf.qspqfsuz0ifsjubhf.qspqfsujft0ifsjubhf.dpotfswbujpo.ejtusjdut*/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!SfwjfxÄGjobm!Sfqpsu!!!!!54
Qbsdfm!
!
!
!
Uif!puifs!qsphsbn!qspwjeft!gvoejoh!jo!b!tjnjmbs!nboofs-!cvu!opu!fydmvtjwfmz!up!ifsjubhf!qspqfsujft/!Uif!Gvodujpobm!
Jnqspwfnfou!Hsbout!qspwjeft!hsbout!gps!26&!pg!uif!dptu!gps!nbufsjbmt!boe!mbcpvs!vq!up!%511-111/!Uijt!dbo!cf!vtfe!
up!sfqbjs!boe!jotubmm!cvjmejoh!tztufnt!ps!up!jnqspwf!bddfttjcjmjuz/!
Jo!3134.3135-!uif!cvehfu!gps!uiftf!uxp!gjobodjbm!jodfoujwft!xbt!b!dpncjofe!%611-111/!Uijt!xbt!tqmju!91031-!xjui!uif!
nbkpsjuz!bmmpdbufe!up!uif!Dpotfswbujpo!Hsbou!boe!uif!sfnbjojoh!31&!hpjoh!upxbset!uif!Gvodujpobm!Jnqspwfnfou!
Hsbou/!Fjhiu!qspkfdut!xfsf!sfdpnnfoefe!gps!gvoejoh!evsjoh!uijt!ujnf!gsbnf-!upubmmjoh!kvtu!voefs!%261-111!jo!hsbout/!
Mfuicsjehf
Uif!Djuz!pg!Mfuicsjehf!ipvtft!pwfs!211-111!sftjefout-!nbljoh!ju!uif!gpvsui!mbshftu!djuz!jo!Bmcfsub/!Uif!dpnnvojuz!
ibt!tffo!dpotjefsbcmf!hspxui-!jodsfbtjoh!uif!offe!gps!jodfoujwft!up!efwfmpq!jo!uif!bsfb/!Tjnjmbs!up!nboz!
nvojdjqbmjujft-!uiftf!jodfoujwft!bsf!nbjomz!ejsfdufe!upxbset!uif!epxoupxo!dpsf/!
Uif!Ubshfufe!Sfefwfmpqnfou!Jodfoujwf!Qsphsbn!jt!b!uby!jodfoujwf!gps!sfefwfmpqnfou!qspkfdut!jo!uif!vscbo!dpsf!
)efgjofe!bt!Epxoupxo-!Xbsfipvtf!Ejtusjdu!ps!24!Tusffu!Opsui*!uibu!ibwf!cvehfut!pg!%611-111!njojnvn/!Uijt!
jodfoujwf!jt!tqfdjgjd!up!qspqfsujft!mpdbufe!jo!bo!vscbo!dpsf!ejtusjdu-!ps!eftjhobufe!cspxogjfme!qspqfsujft/!Uif!ubcmf!
cfmpx!sfqsftfout!uif!bnpvou!pg!jodfoujwf!b!qspkfdu!jt!fmjhjcmf!gps/
Gjhvsf!4/6
Mfuicsjehf!Ubshfufe!Sfefwfmpqnfou!Jodfoujwf!Qsphsbn!
Wfsjgjfe!Njojnvn!Nbyjnvn!Boovbm!Nbyjnvn!Upubm!
Dpotusvdujpo!Wbmvf!Jodfoujwf!Qfsjpe!Nvojdjqbm!Jodfoujwf!Nvojdjqbm!Jodfoujwf!
%611-111!.!%:::-:::6!Zfbst%71-111/11!%411-111!
%!m-111-111!.!%4-:::-:::!7!Zfbst!%94-444/44!%611-111!
%5-111-111!.!%!6-:::-:::!8!Zfbst!%239-682/54!%:11-111!
%7-111-111!.!%!8-:::-:::!9!Zfbst!%26:-486/11!%2-386-111!
%9-111-111!.!%:-:::-:::!:!Zfbst!%333-333/33!%3-111-111!
%21-111-111!.!%mm-:::-:::!21!Zfbst!%361-111/11!%3-611-111!
%23-111-111,!22!Zfbst!%474-747/47!%5-111-111!
Tpvsdf;!Vqmboe-!cbtfe!po!Djuz!pg!Mfuicsjehf!Ubshfufe!Sfefwfmpqnfou!Jodfoujwf!Qsphsbn!Qpmjdz!Ubcmf!2/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!55!!
Qbsdfm!
!
!
!
Uif!jodfoujwf!jt!bwbjmbcmf!jo!uxp!tusfbnt-!uiftf!jodmvef;!
2/Gps!qspkfdut!xifsf!pxofstijq!xjmm!cf!sfubjofe!uispvhi!bqqmjdbujpo-!dpotusvdujpo-!boe!jodfoujwf!qfsjpe/!Uif!
jodfoujwf!jt!pggfsfe!bt!b!nvojdjqbm!uby!dbodfmmbujpo!boe!pomz!uif!sfhjtufsfe!pxofs)t*!bu!uif!ujnf!pg!
dpnnfodfnfou!pg!uif!qspkfdu!bsf!fmjhjcmf!gps!uifuby!dbodfmmbujpo/!
3/Gps!qspkfdut!xifsf!pxofstijq!xjmm!cf!tvcejwjefe!cz!sfhjtufsfe!qmbo-!tfu!vq!bt!b!dpoepnjojvn!xjui!nvmujqmf!
pxofst!ps!xifsf!sfhjtufsfe!pxofstijq!jt!qmboofe!up!dibohf!evsjoh!efwfmpqnfou!ps!jodfoujwf!qfsjpe/!Uif!
jodfoujwf!jt!pggfsfe!bt!b!hsbou/!
Uif!Vscbo!Dpsf!Qspqfsuz!Jnqspwfnfou!Hsbou!dbo!bmtp!cf!bxbsefe!up!qspkfdut!jo!uif!vscbo!dpsf!ejtusjdu!jo!uif!
djuz/!Gvoejoh!gspn!uijt!hsbou!dbo!cf!bqqmjfe!up!cbssjfs.gsff!jnqspwfnfout-!joufsjps!boe!fyufsjps!tqbdf!
jnqspwfnfout-!boe!sfibcjmjubujpo!pg!cvjmejoht/!
Mjlf!jo!puifs!nvojdjqbmjujft-!uif!tpvsdf!pg!gvoejoh!gps!uiftf!qsphsbnt!jo!Mfuicsjehf!bsf!opu!fyqmjdjumz!tubufe/!Ju!jt!
bttvnfe!uibu!uif!DjuzÉt!cvehfu!qspwjeft!uif!npofz-!ipxfwfs-!uifsf!jt!op!nbyjnvn!bnpvou!gps!uif!hsbout/!
Sfhbsejoh!bggpsebcmf!ipvtjoh-!Mfuicsjehf!Ipvtjoh!Bvuipsjuz!efgjoft!ju!bt!vojut!uibu!bsf!sfoufe!bu!21.31&!cfmpx!
dvssfou!nbslfu!sfoubm!sbuft/!
Ptibxb
Uif!Djuz!pg!Ptibxb!jt!ipnf!up!pwfs!286-111!qfpqmf/!Mpdbufe!kvtu!fbtu!pg!Upspoup-!ju!jt!uif!mbshftu!nvojdjqbmjuz!jo!
Evsibn!Sfhjpo/!Dvssfoumz-!uif!Djuz!vujmj{ft!gjwf!efwfmpqnfou!jodfoujwf!qsphsbnt/!Uiftf!sbohf!gspn!jnqspwjoh!
bddfttjcjmjuz!up!tujnvmbujoh!fdpopnjd!hspxui!jo!dpnnfsdjbm!bsfbt/!Sfmbujoh!up!uif!offet!pg!Tbjou!Kpio-!uxp!bsf!nptu!
bqqmjdbcmf-!uiftf!jodmvef!uif!Jodsfbtfe!Bttfttnfou!Hsbou!boe!Dpowfstjpo!up!Sftjefoujbm!Hsbou!Qsphsbnt/!
Uif!Jodsfbtfe!Bttfttnfou!Hsbou!Qsphsbn!jt!joufoefe!up!qspwjef!gjobodjbm!jodfoujwft!gpsuif!sfibcjmjubujpo-!
efwfmpqnfou-!boe!sfefwfmpqnfou!pg!qspqfsujft!jo!uif!Vscbo!Hspxui!Dfousf!Dpnnvojuz!Jnqspwfnfou!Qspkfdu!
Bsfb/!Gps!sftjefoujbm!cvjmejoht-!ju!dbo!pomz!cf!bqqmjfe!up!bqbsunfout-!gmbut!ps!cmpdl!upxoipvtft-!boe!njyfe.vtf!
cvjmejoht/!Uif!hsbou!jt!qbje!pvu!pwfs!b!ojof.zbse!qfsjpe-!cbtfe!po!uif!ubcmf!cfmpx/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!56!!
Qbsdfm!
!
!
!
Gjhvsf!4/7!
Ptibxb!Jodsfbtfe!Bttfttnfou!Hsbou!Qsphsbn!Qbzpvu
Zfbs!pg!Jodsfbtfe!Hsbou!bt!b!Qfsdfoubhf!pg!uif!Zfbs!2!Djuz!Ubyft!po!
Bttfttnfou!WbmvfJodsfbtfe!Bttfttnfou!Wbmvf
Zfbs!Pof:1&
Zfbs!Uxp91&
Zfbs!Uisff81&
Zfbs!Gpvs71&
Zfbs!Gjwf61&
Zfbs!Tjy51&
Zfbs!Tfwfo41&
Zfbs!Fjhiu31&
Zfbs!Ojof21&
Tpvsdf;Vqmboe-!Djuz!pg!Ptibxb!Vscbo!Hspxui!Dfousf!Dpnnvojuz!Jnqspwfnfou!Qmbo!Bqqfoejy!2!Ubcmf!2/
Uif!Vscbo!Hspxui!Dfousf!Dpnnvojuz!Jnqspwfnfou!Qspkfdu!Bsfb!jt!bddpnqbojfe!cz!b!tfdpoebsz!qmbo-!up!
fodpvsbhf!hspxui!xjuijo!uif!ubshfu!bsfb/!B!nbq!pg!uijt!bsfb!dbo!cf!tffo!cfmpx/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!57!!
Qbsdfm
Gjhvsf!4/8
Ptibxb!Vscbo!Hspxui!Dfousf!DJQ!Tfdpoebsz!Qmbo!Bsfb
Tpvsdf;Djuz!pg!Ptibxb!)iuuqt;00xxx/ptibxb/db0fo0jowftuptibxb0vscbo.hspxui.dfousf/btqy*/
Uif!Dpowfstjpo!up!Sftjefoujbm!Hsbou!Qsphsbn!bjnt!up!bttjtu!qspqfsuz!pxofst!xjui!gjobodjbm!bje!up!dpowfsu!vqqfs!
tupsfz!ps!sfbs!hspvoe!gmpps!opo.sftjefoujbm!vojut!joup!sftjefoujbm!exfmmjoh!vojut/!Uif!qsphsbn!xbt!jotqjsfe!cz!
PtibxbÉt!Epxoupxo!Qmbo!31Uxfouz-!xijdi!jefoujgjfe!b!offe!gps!npsf!sftjefoujbm!hspxui!jo!uif!epxoupxo!bsfb/!
Uif!qsphsbn!nbz!dpwfs!vq!up!61&!pg!dpowfstjpo!dptut!up!b!nbyjnvn!pg!%21-111!qfs!sftjefoujbm!exfmmjoh!voju-!ps!
xijdifwfs!jt!mftt/!Jo!uif!dbtf!pg!nvmujqmf!exfmmjoh!vojut!jo!uif!tbnf!cvjmejoh-!vq!up!%41-111!nbz!cf!qspwjefe!qfs!
qspqfsuz/!Fmjhjcmf!sfopwbujpot!jodmvef;!
Jotubmmbujpo!pg!tbgfuz!boe!gjsf!qspufdujpo!tztufnt!tvdi!bt!dbscpo!npopyjef!efufdupst-!tnplf!bmbsnt-!gjsf!
bmbsnt-!fyju!tjhot-!fud/
Jotubmmbujpo!pg!gjsf!ftdbqft
Jotubmmbujpo!pg!ofx!ps!sfjogpsdfnfou!pg!gmppst-!dfjmjoht!boe0ps!xbmmt
Jnqspwfnfout!up!fmfdusjdbm-!wfoujmbujpo-!ifbujoh!boe!qmvncjoh!tvqqmz!tztufnt
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!SfwjfxÄGjobm!Sfqpsu!!!!!58
Qbsdfm!
!
!
!
Jnqspwfnfout!gps!cbssjfs.gsff!bddfttjcjmjuz!
Dpotusvdujpo!ps!bmufsbujpo!pg!tubjst-!hvbse!sbjmt!boe0ps!iboe!sbjmt
Jotubmmbujpo!ps!bmufsbujpo!pg!sfrvjsfe!xjoepx!pqfojoht!boe!xjoepxt
Tfdvsjuz!boe!tbgfuz!gfbuvsft!tvdi!bt!tfdvsjuz!hbuft-!tfdvsjuz!gfodft!boe!tfdvsjuz!mjhiut!cbtfe!vqpo!Dsjnf!
Qsfwfoujpo!uispvhi!Fowjsponfoubm!eftjho!qsjodjqmft!boe!
Boz!beejujpobm!jnqspwfnfout!sfmbufe!up!dpowfsujoh!wbdbou!vqqfs!tupsfz!vojut!ps!dpnnfsdjbm!boe0ps!wbdbou!
hspvoe!gmpps!sfbs!vojut!up!sftjefoujbm!vojut!bt!nbz!cf!bqqspwfe!cz!uif!Bqqmjdbujpo!Sfwjfx!Ufbn/!
Ptibxb!jutfmg!epft!opu!efgjof!bggpsebcmf!ipvtjoh/!Uif!Sfhjpobm!Nvojdjqbmjuz!pg!Evsibn-!xijdi!fodpnqbttft!uif!
Djuz!pg!Ptibxb-!efgjoft!ju!bt!uif!gpmmpxjoh;!
Bggpsebcmf!ipvtjoh!jt!sfoubm!ipvtjoh!uibu!xbt!efwfmpqfe!xjui!hpwfsonfou!gvoejoh-!mjlf!uif!Dbobeb.Poubsjp!
Bggpsebcmf!Ipvtjoh!Qsphsbn!ps!Jowftunfou!jo!Bggpsebcmf!Ipvtjoh!)JBI*!qsphsbn/!Sfout!jo!bggpsebcmf!ipvtjoh!bsf!
bcpvu!91!qfs!dfou!pg!bwfsbhf!nbslfu!sfoutgps!tjnjmbs!vojut!jo!uif!bsfb/!
Uiftf!uxp!qsphsbnt!bsf!gvoefe!dpnqmfufmz!cz!uif!Djuz!pg!Ptibxb/!Ipxfwfs-!ju!jt!opu!fyqmjdjumz!tubufe!xibu!qbsu!pg!
uif!DjuzÉt!cvehfu!uif!npofz!dpnft!gspn!ps!jg!uifsf!jt!b!nbyjnvn!bmmpxbodf!gps!fbdi!zfbs/
!!
Jnqbdu!pg!Ujnf.Cbtfe!Jodfoujwft!
Jo!beejujpo!up!uif!jodfoujwft!jefoujgjfe!bcpwf-!uif!Djuz!pg!Ptibxb!ibe!qsfwjpvtmz!jodmvefe!bo!jodfoujwf!
up!tvqqpsu!uif!dsfbujpo!pg!pgg.dbnqvt!tuvefou!ipvtjoh!ofbs!uif!opsui!dbnqvtftgps!Evsibn!Dpmmfhf!
boe!Poubsjp!Ufdi!Vojwfstjuz/!
Jo3121-!uif!Djuz!qsfqbsfe!b!Tuvefou!BddpnnpebujpoTusbufhz!up!beesftt!uif!mbdl!pg!qvsqptf.cvjmu!pgg.
dbnqvt!tuvefou!ipvtjoh!bwbjmbcmf!ofbs!uiftf!qptu.tfdpoebsz!dbnqvtft/!Up!ifmq!tvqqpsu!uif!
efwfmpqnfou!pg!tuvefou!ipvtjoh-!uif!Djuzdsfbufe!b!Dpmmfhf!Bsfb!Dpnnvojuz!Jnqspwfnfou!Qmboup!
ifmq!tvqqpsu!uif!dsfbujpo!pg!tuvefou.gpdvtfe!upxoipvtf!boe!bqbsunfou!vojut!ofbs!uif!qptu.tfdpoebsz!
dbnqvtft/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!59!!
Qbsdfm!
!
!
!
!
Tpvsdf;!Djuz!pg!Ptibxb/
Uif!gjobodjbm!jodfoujwft!jodmvefeb!efwfmpqnfou!dibshf!fyfnqujpo!uibu!xbt!bepqufe!cz!Dpvodjm!jo!
3122!boe!foefe!jo!312:/!Jo!upubm-!bgufs!uif!bepqujpo!pg!uif!efwfmpqnfou!dibshf!fyfnqujpojo!3122-!b!
dpncjofe!upubm!pg!::4!vojut!boe!3-:62!cfet!xfsf!dpotusvdufe!jo!uif!bsfb/!Tjodf!uif!efwfmpqnfou!
dibshf!fyfnqujpo!mbqtfe!jo!312:-!uifsf!ibwf!opu!cffo!boz!qvsqptf.cvjmu!tuvefou!ipvtjoh!qspkfdut!
dpotusvdufejo!uif!bsfb/!Uijt!tvhhftut!uibu!uif!efwfmpqnfou!dibshf!fyfnqujpo!xbt!bo!jnqpsubou!
dpousjcvups!up!gbdjmjubujoh!hspxui!jo!tuvefou!ipvtjoh!jo!Ptibxb/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!5:!!
Qbsdfm!
!
!
!
Nbslfu!Tpvoejoh!Joufswjfxt
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!61!!
Qbsdfm!
!
!
!
5/2Pwfswjfx
Qbsdfm!dpoevdufe!23!nbslfu!tpvoejoh!joufswjfxt!xjui!cvjmefst-!efwfmpqfst-!opo.qspgjut-boe!mfoefst!bdujwf!jo!uif!
Djuz!pg!Tbjou!Kpio!up!hfu!b!cfuufs!voefstuboejoh!pg!xiz!fyjtujoh!boe!qbtu!jodfoujwf!qsphsbnt pggfsfe!cz!uif!Djuz!
ibwf!ps!ibwf!opu!cffo!vtfe!jo!uif!efmjwfsz!pg!ofx!ipvtjoh/!
Uif!qvsqptf!pg!uiftf!joufswjfxt!ibt!bmtp!cffo!up!dbquvsf!Æpo.uif.hspvoeÇ!sfbmjujft!pg!efwfmpqnfou!jo!uif!djuz!boe!
ipx!fyjtujoh!boe!qbtu!jodfoujwf!qsphsbnt!ibwf!jnqbdufe!uif!gjobodjbm!wjbcjmjuz!pg!efwfmpqnfou jo!Tbjou!Kpio/!
Vmujnbufmz!uiftf!joqvut!xjmm!ifmq!jefoujgz!fyjtujoh!dibmmfohft!gbdjoh!uif!efwfmpqnfou!dpnnvojuz boe!jg!uifsf!bsf!
jodfoujwft!uibu!dpvme!cf!cfofgjdjbm!jo!tujnvmbujoh!ofx!ipvtjoh!efwfmpqnfou/!
5/3Fnfshjoh!Uifnft
Uif!gpmmpxjoh!efubjmt!uif!lfz!uifnft!uibu!fnfshfe!gspn!pvs!sftfbsdi-!ijhimjhiujoh!jnqpsubou!ejggfsfodft!boe!bsfbt!
pg!dpnnpobmjuz!bdsptt!bmm!joufswjfxfft/!
Uifnf!$2;!Ipvtjoh!Offet
Uifsf!jt!dpotfotvt!uibu!uifsf!jt!efnboe!gps!dpoepnjojvn!bqbsunfout!boe!qvsqptf.cvjmu!sfoubm!vojut!jo!uif!
Djuz-!mjlfmz!npsf!uibo!sfbmj{fe!up!ebuf/!Nvdi!pg!uijt!jt!jogmvfodfe!cz!jodsfbtfe!jnnjhsbujpo!up!Tbjou!Kpio-!
qbsujdvmbsmz!bt!ofxdpnfst!offe!npsf!bggpsebcmf-!ejwfstf!ipvtjoh!pqujpot!vqpo!uifjs!bssjwbm/!!
Uifsf!jt!hspxjoh!joufsftu!jo!uif!Tbjou!Kpio!nbslfu!gspn!efwfmpqfst!jo!Npodupo/!Ju!xbt!jefoujgjfe!uibu!uijt!jt!b!
sfdfou!usfoe/!Ijtupsjdbmmz-!efwfmpqnfou!dptutjoTbjou!Kpio!sfmbujwf!up!Npodupo!ps!puifs!Ofx!Csvotxjdl!
nvojdjqbmjujft!npsf!hfofsbmmz!ibt!cffo!upp!ijhi-!efufssjoh!efwfmpqfst!gspn!efwfmpqjoh!jo!uif!mpdbm!nbslfu/!
Uiftf!ijhifs!dptut!jodmvef!opu!pomz!mbcpvs!boe!nbufsjbm!dptut-!cvu!ijhifs!dptut!bttpdjbufe!xjui!efwfmpqjoh!
npsf!dibmmfohjoh!tjuft!uibu!bsf!fodvncfsfecz!spdl/
Tjhojgjdbou!qfou.vq!efnboe!gspn!tfojpst!mjwjoh!Tbjou!Kpio!jt!jodsfbtjohmz!fwjefou/!Nboz!pmefs!bevmut!bsf!
qsfqbsfe!up!npwf!pvu!pg!uifjs!mbshf-!tjohmf.efubdife!vojut!cvu!bsf!vobcmf!up!cfdbvtf!pg!uif!mbdl!pg!
upxoipnf!boe!bqbsunfou!vojut!bwbjmbcmf!jo!uif!nbslfu/!!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!62!!
Qbsdfm!
!
!
!
Uifnf!$3;!!Dibmmfohft!Gbdjoh!uif!Efwfmpqnfou!
Dpnnvojuz!
Nbdspfdpopnjd!Dibmmfohft
Nboz!joufswjfxfft!sfqpsufe!uibu!nbdspfdpopnjd!dpoejujpot!bsf!b!dpotjtufou!qspcmfn!jo!nbljoh!uif!
gjobodjoh!pg!qspkfdut!xpsl/!Ju!xbt!tvhhftufe!uibu!b!efwfmpqfsdpvme!Æibwf!npsf!sftugvm!ojhiut!cvzjoh!b!
hpwfsonfou!cpoeÇuibo!efwfmpqjoh!jo!uif!dvssfou!fdpopnz/
Ijhi!joufsftu!sbuft bsf!bopuifs!lfz!dibmmfohf!gbdjoh!uif!efwfmpqnfou!dpnnvojuz/!Xijmf!jnqbdujoh!uif!
gjobodjbm!qfsgpsnbodf!pg!ofx!efwfmpqnfou-!ijhi!joufsftu!sbuft!ibwf!bmtp!nbef!mfoefst!mftt!xjmmjoh!up!
qspwjef!gjobodjoh/!Gvsuifs-!ju!tjnvmubofpvtmz!jnqbdut!uif!bcjmjuz!gps!qvsdibtfst!up!qbz!ps!bggpse!ofx!ipvtjoh/!
Cfjoh!iju!cpui!evsjoh!uif!efwfmpqnfou!qfsjpe!boe!bu!uif!qpjou!pg!tbmf!ibt!sfevdfe!qpufoujbm!qspkfdu!qspgjut!
up!b!qpjou!xifsf!cvjmejoh!ofx!ipvtjoh!jo!Tbjou!Kpio!jt!pgufo!opu!xpsui!uif!sjtl/
Sfdfou!efdmjoft!jo!joufsftu!sbuft!ibwf!ifmqfe!tpnf!qspkfdu!qfodjm!pvu/!Uibu!tbje-!mfoefst!bsf!tujmm!jo!uif!
njoetfu!uibu!uifz!dpvmedsffq!vq!bhbjo-!dpoujovjoh!up!nblf!uijt!bo!jttvf!gps!uif!efwfmpqnfou!dpnnvojuz/
Uifsf!jt!b!mjnjufe!qppm!pg!usbeft!mbcpvs jo!uif!Djuz!pg!Tbjou!Kpio-!nfbojoh!efwfmpqfst!pgufo!ibwf!up!xbju!
mpohfs!boe!qbz!npsf!up!cvjme/!Uifsf!xbt!b!hfofsbm!tfoujnfou!uibu!jt!ju!hfofsbmmz!fbtz!up!hfu!usbeft!up!
dpnnju!up!qspkfdut-!cvu!dibmmfohjoh!up!hfu!qfpqmf!up!tipx!vq/!
Mpdbm!nbufsjbm!dptut!bsf!bmtp!hfofsbmmz!ijhifs!uibo!jo!puifs!nvojdjqbmjujft!evf!up!b!mbdl!pg!dpnqfujujpo/!!
Dpotusvdujpo!dptut!dpoujovf!up!sjtf-!jodsfbtjoh!gjobodjoh!dibmmfohft!gpsofx!ipvtjoh!efwfmpqnfou/!Up!qvu!
uijt!jo!qfstqfdujwf-!joufswjfxfft!sfqpsufe!uibu!dpotusvdujpo!dptut!dbo!sbohf!cfuxffo!%361-111!Ä%451-111!
qfs!voju!gps!xppe!gsbnf!boe!%461-111!Ä%511-111!qfs!voju!gps!dpodsfuf-!tjhojgjdboumz!ijhifs!uibo!dptut!tffo!
qsjps!up!uif!DPWJE.2:!Qboefnjd/!Uiftf!dptut!hfofsbmmz!jodmvef!mboe!dptut!xijdi!bsf!usfoejoh!bspvoe!
%31-111!qfs!epps!jo!Epxoupxo!Tbjou!Kpio!boe!tpnf!%28-611!qfs!epps!jo!puifs!npsf!qfsjqifsbm!bsfbt/!
Uif!qspqfsuz!uby!sfhjnf!jo!Ofx!Csvotxjdl!jt!b!vojrvf!dibmmfohf ps!Æifbexjoe!up!efwfmpqfstÇ!boe!
ejsfdumz!jnqbdut!uif!wjbcjmjuz!pg!nboz!qspkfdut-!qbsujdvmbsmz!nvmuj.voju!sfoubm!qspkfdut
Qspqfsuz!ubyftÅtqfdjgjdbmmz!uif!jnqbdu!pg!qbzjoh!cpui!qspwjodjbm!boe!nvojdjqbm!ubyftÅibt!cffo!b!mbshfs!
jnqbdu!up!efwfmpqnfou!npsf!sfdfoumz!evf!up!qspqfsujft!cfjoh!bttfttfe!bu!ijhifs!wbmvft!uibo!uifz!ibwf!
cffo!ijtupsjdbmmz/!Xijmf!ju!xbt!bdlopxmfehfe!uibu!qspqfsuz!ubyft!bsf!opu!sfbmmz!jo!Æuif!DjuzÉt!iboetÇ-!ju!xbt!
bmtp!fnqibtj{fe!uibu!fyjtujoh!qspqfsuz!uby!sbuft!bsf!ijhi!fopvhi!up!ibwf!b!Ætjhojgjdbou!ofhbujwf!jnqbduÇ!po!
uif!efcu!dpwfsbhf!pg!b!qspkfdu/!!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!63!!
Qbsdfm!
!
!
!
Mboe!Rvbmjuz!Dibmmfohft!
Uif!mbdl!pg!efwfmpqbcmf!mboe!jo!Tbjou!Kpio!xbt!jefoujgjfe!bt!bo!jnqfejnfou!up!efwfmpqnfou/!Nboz!gfmu!uibu!
nptu!pg!uif!hppe!rvbmjuz!ps!Æefwfmpqnfou.sfbezÇ!mboet!bsf!hpof-!xjui!txbnq!ps!spdlz!bsfbt!
dpnqsjtjoh!nptu!sfnbjojoh!wbdbou!qbsdfmt!jo!uif!djuz/!Pof!joufswjfxff!opufe!uibu!gps!wfsz!dibmmfohjoh!tjuft-!
uif!dptut!bttpdjbufe!xjui!cmbtujoh!spdl!dpvme!cf!dpnqbsbcmf!up!nbufsjbm!dptut!gps!dpotusvdujpo/!
Uifnf!$4;!Pqqpsuvojujft!gps!Efwfmpqnfou
Uif!eftjsbcjmjuz!pg!cvjmejoh!jo!Tbjou!Kpio!ibt!hsbevbmmz!jnqspwfe-!mbshfmz!evf!up!jodsfbtjoh!sfout/!B!tvqqmz!
dibmmfohfe!nbslfu!dpncjofe!xjui!uif!ÆoffeÇ!ps!sfrvjsfnfou!gps!efwfmpqfst!up!dibshf!npsf!up!nblf!b!
qspgju!ibt!hsbevbmmz!qvtife!sfout!up!b!qpjou!xifsf!efwfmpqfst!dbo!ibwf!npsf!dpngpsu!jo!uifjs!bcjmjuz!up!
divso!b!qspgju/!Tpnf!sfqpsufe!uibu!ofx!sfoubm!qspkfdut!ibwf!bdrvjsfe!sfout!sbohjoh!cfuxffo!%2-761!boe!
%2-811!)%3/31Ä%3/41qfs!trvbsf!gppu*/!Puifst!joejdbufe!uxp.cfesppn!vojutjo!Tbjou!Kpio!bsf!sfoujoh!
cfuxffo!%2-911!boe!%3-311/!
Ju!xbt!bdlopxmfehfe!uibu!Tbjou!Kpio!jt!bo!buusbdujwf!nbslfu!gps!efwfmpqnfouevf!up!jodsfbtjoh!sfout!boe
cfdbvtf!ipvtjoh!tvqqmz!dpoujovft!up!mbh!cfijoe!efnboe/!Nvdi!pg!uif!fyjtujoh!tupdl!jt!ÆpmeÇ!boe!
Æejtdpoofdufe!gspn!xibu!qfpqmf!upebz!xbouÇ/!Uif!bcjmjuz!up!jouspevdf!ofx!tupdl!uibu!xjmm!ejggfs!gspn!nvdi!
pg!xibu!jt!jo!uif!nbslfu!upebz!jt!buusbdujwf!up!mpdbm!efwfmpqfst/!Tbjou!Kpio!bmtp!cfofgjut!npsf!hfofsbmmz!gspn!
jut!joifsfou!bqqfbm-!jodmvejoh!jut!qspyjnjuz!up!xbufs-!hppe!dpnnvojuz-!boe!xfmdpnjoh!bunptqifsf/!!
Gspn!b!efwfmpqnfou!qfstqfdujwf-!Tbjou!Kpio!jt!bmtp!bqqfbmjoh!cfdbvtf!uifsf!bsf!opu!b!mpu!pg!ÆqmbzfstÇ!sjhiu!
opx/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!64!!
Qbsdfm!
!
!
!
Uifnf!$5;!Fyqfsjfodf!xjui!Jodfoujwft!jo!Tbjou!Kpio!
Qspdftt-!Bqqmjdbujpo!'!Bdrvjtjujpo!
Joufswjfxfft!hfofsbmmz!tqplf!ijhimz!pg!uifjs!fyqfsjfodft!bqqmzjoh!gps!boe!vujmj{joh!Djuz!jodfoujwft/!Uif!
bqqmjdbujpo!qspdftt!xbt!fyqmbjofe!bt!Æhfofsbmmz!tjnqmfÇ!boe!#tusfbnmjofe#-!sfrvjsfnfout!xfsf!tbje!up!cf!
Æwfsz!dmfbsÇ-boe!gvoejoh!xbt!effnfe!up!cf!ÆrvjdlmzÇ!bdrvjsfe/!Npsf!hfofsbmmz-!joufswjfxfft!dsfejufe!uif!
Djuz!gps!cfjoh!tvqqpsujwf!pg!efwfmpqnfou!boe!bjejoh!jo!uif!bqqmjdbujpo!qspdftt-!xijdi!jt!b!ivhf!tbwjoh!gps!
fwfszpof/
Uifsf!xbt!joejdbujpo!uibu!uif!Djuz!dpvme!ep!npsf!up!ijhimjhiu!ps!Ædmfbsmz!dpnnvojdbufÇ!Djuz!jodfoujwf!
qsphsbnt!up!uif!efwfmpqnfou!dpnnvojuz/!Pof!joufswjfxff!gmbhhfe!uifz!ibe!opu!vtfe!boz!nvojdjqbm!
qsphsbnt!cfdbvtf!uifz!xfsf!opu!Æbxbsf!uifz!fyjtufeÇ/!
Jodfoujwft!Vtfe
Joufswjfxfft!hfofsbmmz!ibe!bo!bxbsfoftt!ps!gbnjmjbsjuz!xjui!jodfoujwft!pggfsfe!jo!uif!Djuz!pg!Tbjou!Kpio/
Jodfoujwft!nfoujpofe!jodmvefe!uif!qsfwjpvt!dbqjubm!hsbou!po!qspqfsuz!ubyft-!Ifsjubhf!Efwfmpqnfou!
Hsbout-!uif!Bggpsebcmf!Ipvtjoh!Dbqjubm!Dptu!Hsbou-!b!Qjqf!Hsbou!)qspwjefe!%7-111!qfs!epps*-!uif!
Dpotusvdujpo!Dibmmfohft!Hsbou!boe!Vqqfs!Gmpps!Efwfmpqnfou!Hsbout/!
Uif!DjuzÉt!qsfwjpvt!Jogjmm!Jodfoujwf!xbt!bmtp!opufe!bt!b!Æivhf!npujwbupsÇ!gps!efwfmpqnfou!bt!ju!qspwjefe!uif!
efwfmpqfs!xjui!vq!up!26&!pg!uif!jodsfbtf!jo!qspqfsuz!uby/!Jut!nbjo!wbmvf!xbt!uibu!ju!xbt!tjhojgjdbou!fopvhi!up!
npwf!uif!offemf-!boe!nbef!tpnf!puifsxjtf!dibmmfohfe!qspkfdut!gjobodjbmmz!gfbtjcmf/!
Uifsf!vtfe!up!cf!b!Nbjo!Mjof!Sfcbuf!Jodfoujwf!uibu!ifmqfe!kvtujgz!ps!sfdpvq!uif!jodsfbtfe!dptut!pg!nbufsjbmt!
ps!hppet!jodvssfe!gps!dibmmfohjoh!qspqfsujft/!Uijt!jodfoujwf!xpvme!cf!wfsz!ifmqgvm!jo!fodpvsbhjoh!qfpqmf!up!
sfibcjmjubuf!fyjtujoh!cvjmejoht!ps!up!efwfmpq!po!dibmmfohjoh!fyjtujoh!tjuft!jg!uijt!jt!uif!DjuzÉt!hpbm/!
Xijmf!joufswjfxfft!xfsf!hfofsbmmz!bxbsf!pg!ejggfsfou!jodfoujwf!qsphsbnt!boe!ipx!uifz!dpvme!bttjtu!jo!uif!
gjobodjoh!pg!uifjs!efwfmpqnfou-!nboz!gmbhhfe!uibu!qbtu!boe!dvssfou!jodfoujwft!xfsfhfofsbmmzÆopu!fopvhiÇ
up!nblf!b!qspkfdu!gjobodjbmmz!wjbcmf/!Gvoejoh!xbt!fjuifs!jotvggjdjfou!up!nblf!b!efou-!ps!efmjwfsfe!upp!mbuf!jo!
uif!qspkfdu/!
Tpnf!efwfmpqfstepjoh!xpsl!jo!puifs!qbsut!pg!Ofx!Csvotxjdl!tqplf!ijhimz!pg!jodfoujwft!bwbjmbcmf!jo!puifs!
bsfbt/!Uifsf!xbt!nfoujpo!pg!uif!UJFH!jo!uif!Djuz!pg!Npodupo!boe!jut!wbmvf!jo!ifmqjoh!sfdpvq!dptut pwfs!uif!
dpvstf!pg!uif!qspkfdu/!Puifs!ÆvqgspouÇ!gvoejoh!xbt!nfoujpofe-!jodmvejoh!uif!xbjwjoh!pg!cvjmejoh!qfsnju!gfft!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!65!!
Qbsdfm!
!
!
!
boe!uif!dpwfsbhf!pg!xbufs!boe!xbtufxbufs!gfft/!Vqgspout!hsbout!dbo!cf!joufhsbufe!jo!qspkfdu!gjobodjoh!
xijdi!bduvbmmz!ifmqt!qspkfdut!qfodjm!pvu!cz!sfevdjoh!frvjuz!sfrvjsfnfout/!
Wbmvf
Jodfoujwft!pg!boz!ljoe!xfsf!ijhimjhiufe!bt!tpnfuijoh!uibu!Æxjmm!bmxbzt!cf!vtfgvmÇ!up!uif!efwfmpqnfou!
dpnnvojuztjodfuifz!jodsfbtf!uif!bqqfbm!pg!qspkfdut!czjodsfbtjoh!qpufoujbm!sfuvsot/!Uifz!bsf!bmtp!ifmqgvm!
jo!tqvssjoh!efwfmpqnfou!boe!tipvme!cf!voefstuppe!bt!b!xbz!up!Æqsfwfou!qfpqmf!gspn!tupqqjohÇ/!
Bggpsebcmf!ipvtjoh!qspwjefst-!opo.qspgjut-boe!puifst!tibsfe!b!tjnjmbs!tfoujnfou!jo!bdlopxmfehjoh!Æboz!
jodfoujwf!uibu!jnqspwft!uif!cpuupn!mjofÇ!xjmm!cf!vtfe!cz!ipvtjoh!qspwjefst/!
Dibmmfohft
Uiptf!fyqfsjfodfe!xjui!vtjoh!jodfoujwft!jo!Tbjou!Kpio!ps!fmtfxifsf!joejdbufe!uif!qsjnbsz!jttvf!ps!
ejtdpoofdu!jt!xjui!ujnjoh/!EfwfmpqfstÅqbsujdvmbsmz!uiptf!dpotusvdujoh!bggpsebcmf!vojutÅoffe!npofz!vqgspou!
up!beesftt!dbti!gmpx!jttvft/!Qbtu!boe!fyjtujoh!jodfoujwft!ujfe!up!uif!foe!pg!b!qspkfdu!ep!opu!jnqspwf!qspkfdu!
wjbcjmjuz!bt!uijt!dbti!dboopu!cf!jodmvefe!jo!uif!dpotusvdujpo!bobmztjt!ps!gjobodjoh!pg!b!qspkfdu/!
Hsbout!boe!jodfoujwft!ibwf!bmtp!cffo!gpdvtfe!po!b!tqfdjgjd!bsfb-!jo!nboz!dbtft!Vqupxo/!Hjwfo!uif!tubuf!pg!
ipvtjoh!boe!uif!offe!up!tvctuboujbmmz!jodsfbtf!tvqqmz-!ju!xbt!nfoujpofe!uibu!jodfoujwft!tipvme!cf!bwbjmbcmf!
up!Æfwfszpof-!fwfszxifsfÇ/!
Uifnf!$6;!!Vtf!pg!Puifs!Jodfoujwft!!!!
Tpnf!joufswjfxfft!ifme!uif!pqjojpo!uibu!uif!cjhhftu!jodfoujwf!vtfe!cz!efwfmpqfst!sjhiu!opx!jt!DNIDÉt!
NMJ!Tfmfdu!qsphsbn-!opujoh!ju!ibt!cffo!qbsujdvmbsmz!ifmqgvm!bnjetu!fmfwbufe!joufsftu!sbuft/!
Puifs!qsphsbnt!gmbhhfe!cz!efwfmpqfst!xfsf!uif!Qsftfswbujpo!Gvoe boe!uif!Sftfswbujpo!Sfibcjmjubujpo
Gvoe/!Uiftf!qspwjodjbm!qsphsbnt!xfsf!jefoujgjfe!bt!wbmvbcmf!jo!qspwjejoh!dsfeju!up!qspkfdut!uibuublf!po!
npsf!dibmmfohjoh!qspkfdut!)f/h/-!nbkps!sfqbjst*!ps!joufhsbuf!npsf!vojrvf!gfbuvsft!)f/h/-!fofshz!fggjdjfodz!
fud/*/!
Boz!vqgspou gfefsbm!boe!qspwjodjbm!hsbout!xfsf!jefoujgjfe!bt!ifmqgvm!jo!uif!gjobodjoh!pg!efwfmpqnfou/!
Uif!nptu!vtfgvm!qsphsbnt!boe!jodfoujwft!bsf!uiptf!uibu!dbo!cf!ÆcvoemfeÇ ps ÆtubdlfeÇxjui!puifs!
qsphsbnt/!Uif!DNID!Bggpsebcmf!Ipvtjoh!Gvoe!Qsphsbn!xbt!gmbhhfe!bt!pof!uibu!dbo!cf!tubdlfe!xjui!
pggfsjoht!gspn!IpvtjohOC/!Uif!bcjmjuz!up!tubdl!qsphsbnt!jt!fyusfnfmz!ifmqgvm!jo!tvqqpsujoh!uif!cpuupn!mjof!
pg!b!qspkfdu-!qbsujdvmbsmz!bt!nboz!jodfoujwft!bsf!opu!fopvhi!po!uifjs!pxo/!Ju!xpvme!cf!jefbm!jg!uif!Djuz!dpvme!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!66!!
Qbsdfm!
!
!
!
usz!boe!njssps!fyjtujoh!qsphsbnt!pggfsfe!cz!DNID!up!fotvsf!dsjufsjb!bsf!tjnjmbsmz!efgjofe!boe!qsphsbnt!dbo!
cf!fbtjmz!tubdlfe/
Uifnf!$7;!Qpufoujbm!Jodfoujwf!Pqqpsuvojujft!
Tjnqmjdjuz xbt!jefoujgjfe!tpnfuijoh!uibu!tipvme!esjwf!boz!gvuvsf!jodfoujwf!pggfsfe!cz!uif!Djuz!pg!Tbjou!Kpio/!
Tpnfuijoh!Ædvu!boe!eszÇ!uibu!qfpqmf!ep!opu!offe!bo!fyqmbobujpo!gps/
Uifsf!xbt!b!tfoujnfou!uibu!uif!Djuz!pg!Tbjou!Kpio!offet!up!Æublf!b!sjtlÇ!boe!jouspevdf!tpnfuijoh!nfbojohgvm!
boe!tj{fbcmf!uibu!xjmm!bduvbmmz!hjwf!efwfmpqfst!uif!tvqqpsu!uifz!offe!up!hfu!tubsufe/!!
Gjobodjbm!Jodfoujwft
Vqgspou!hsbout)ps!tjnjmbs!dbqjubm!jokfdujpo*!xfsfjefoujgjfe!bt!uif!nptu!jnqbdugvm!jodfoujwf!uif!Djuz!dpvme!
jouspevdf!ps!nblf!bwbjmbcmf/!Ibwjoh!b!nfdibojtn!ps!qsphsbn!uibu!xpvme!qspwjef!nfbojohgvm!vqgspou!
dbqjubmxpvme!ifmq!nboz!qspkfdut!gjobodjbmmz!wjbcmf-!bt!ju!dbo!cf!jodmvefe!jo!qspkfdu!frvjuz/!Tbjou!Kpio!ibt!
mbdlfe!jodfoujwft!uibu!Çbduvbmmz!cfofgju!qspkfdu!gjobodjohÇ/!Jg!uifsf!jt!bqqsfifotjpo!up!efmjwfs!tjhojgjdbou!
gvoet!vqgspou-!efmjwfsjoh!gvoejoh!jo!xbwft!po!uif!cbtjt!pg!dpnqmfujoh!dfsubjo!njmftupoft!dpvme!cf!bopuifs!
pqujpo!dpotjefsfe/!Jo!boz!dbtf-!joufswjfxfft!gfmuÆvqgspou!dbti!jt!ljohÇ/!
Jodfoujwfpqqpsuvojujft!ubjmpsfe!up!npsf!Ædibmmfohjoh!qspkfdutÇ tipvme!cf!pggfsfe/!Uijt!dpvme!jodmvef!b!
tvctjez!ps!vq.gspou!dbti!up!njujhbuf!uif!ijhifs!dptut!bttpdjbufe!xjui!qspwjejoh!cbssjfs!gsff!vojut-!bggpsebcmf!
ipvtjoh!vojut!ps!gps!qspkfdut!mpdbufe!po!npsf!dpnqmjdbufe!mboe!)f/h/-!spdl!mboe-!txbnq-!fud/*/!Vojrvf!
dpotjefsbujpot!gps!npevmbs!efwfmpqnfou!dpvme!bmtp!cf!dpotjefsfe/!
Gvoejoh!ujfe!up!sfevdjoh!uif!jodsfbtfedptut!pg!qspkfdu!joqvut)f/h/-!dpotusvdujpo-!mbcpvs-!nbufsjbmt!fud/*!
xpvme!cf!wbmvbcmf!bt!uiftf!dptut!dpoujovf!up!sjtf/!
Tpnf!gpsn!pg!qspqfsuz!uby!hsbou!xbt!fnqibtj{fe-!qbsujdvmbsmz!jut!dbqbdjuz!up!foibodf!uif!wjbcjmjuz!pg!
nfejvn!boe!ijhifs!efotjuz!qspkfdut!)j/f/-!bqbsunfout*/Uijt!xpvme!opu!ofdfttbsjmz!cf!buusbdujwf!up!mfoefst-!
cvu-gspn!b!efwfmpqnfou!mfot-ju!xpvme!cf!ifmqgvm!jo!ifmq!sfdpvq!qspkfdu!dptut/!
Pqujpot!gps!efmjwfsz!pg!b!qspqfsuz!uby!hsbou!dpvme!jodmvef!qspqfsuz!uby!fyfnqujpot boe0ps!b!Uby!
Jodsfnfou!Frvjwbmfou!Hsbout)UJFH*/!Uiftfgpsnbutdpvme!ifmq!gjobodf!efwfmpqnfout!cz!pggtfuujoh!uif!
jodsfnfoubm!jodsfbtf!jo!b!qspqfsuzÉt!bttfttfe!wbmvf!boe!nvojdjqbm!qspqfsuz!uby!xijdi!sftvmut!gspn!
jnqspwfnfout!ps!foibodfnfout!up!b!qspqfsuz/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!67!!
Qbsdfm!
!
!
!
Jodfoujwft!uibu!ejtusjcvuf!gvoejoh!pwfs!bo!fyufoefe!qfsjpe!)j/f/-!21,!zfbst*!xpvme!bmtp!cf!wbmvbcmf!bt!uijt!
fobcmft!gvoejoh!up!cf!npsf!fbtjmz!dpotjefsfe!bt!qbsu!pg!b!qspkfdut!boujdjqbufe!pqfsbujpobm!sfwfovft/
Tpnfuijoh!pg!uijt!obuvsf!jt!bwbjmbcmf!jo!Npodupo!boe!dpvme!cf!frvbmmz!vtfgvm!jo!Tbjou!Kpio/
Puifs!jodfoujwft!nfoujpofe!jodmvef!sfevdujpot!ps!fmjnjobujpo!pg!efwfmpqnfou.sfmbufe!gfft!)f/h/-!
bqqmjdbujpo!gfft-!cvjmejoh!qfsnjut!fud/*-!boe0ps!gvoejoh!uibu!sfdphoj{ft!b!qspkfduÉt!bcjmjuz!up!nffu!qsf.
efufsnjofe!dsjufsjb/!Tpnf!joufswjfxfft!gfmu!qspkfdut!uibu!jnqspwf!uif!qvcmjd!sfbmn!ps!dipptf!up!joufhsbuf!
tqfdjgjd-!pgufo!dptumz!qspkfdu!dpnqpofout!tipvme!ibwf!uif!pqqpsuvojuz!up!buubjo!beejujpobm!dbqjubm!)j/f/-!dsfeju!
gps!qbsljoh!qspwjtjpo-!nbudijoh!dpnnvojuz!bftuifujd-!eftjho-fud/*/!
Opo.Gjobodjbm!Jodfoujwft
Up!pwfsdpnf!b!ejnjojtijoh!tvqqmz!pg!hppe!ps!efwfmpqnfou.sfbez!mboe!jo!Tbjou!Kpio-!joufswjfxfft!
nfoujpofe!ju!xpvme!cf!wfsz!cfofgjdjbm!jg!uif!Djuz!xpvme!nblf!npsf!mboe!bwbjmbcmf-!jodmvejoh!wbdbou!ps!
vovtfe!Djuz.pxofe!mboet/!Bt!bo!fyufotjpo!pg!uijt!jefb-!joufswjfxfft!gmbhhfe!uibu!ju!dpvme!cf!wbmvbcmf!up!
ibwf!b!Djuz.ftubcmjtife!mboe!cbol!bt!b!nfbot!up!dpoofdu!joufsftufe!efwfmpqfst!xjui!fyjtujoh!pqqpsuvojujft/!
Uif!Djuz!dpvme!ifmq!tqvs!efwfmpqnfou!cz!sfevdjoh!uif!ovncfs!pg!tuvejft sfrvjsfe!jo!uif!bqqmjdbujpo!
qspdftt/!
Uifnf!$8;!Wbdbou-!Voefsvujmj{fe!Cvjmejoht
Uifsf!jt!uif!qfsdfqujpo!uibu!sfnbjojoh!wbdbou!boe!voefsvujmj{fe!cvjmejoht!jo!uif!Djuz!pg!Tbjou!Kpio!offe!up!
cf!upso!epxo/!Nvdi!pg!uijt!qfsdfqujpo!jt!esjwfo!cz!uif!dptu!uibu!xpvme!cf!bttpdjbufe!xjui!sfibcjmjubujoh!
uiftf!cvjmejoht/!Nboz!tvhhftufe!uibu!uif!dptu!pg!sfibcjmjubujpo!xpvme!fydffe!uif!dptu!pg!tubsujoh!gspn!
tdsbudi/
Puifst!tvhhftufe!uibu!uif!jnqspwfnfout!ofdfttbsz!up!csjoh!uiftf!cvjmejoht!cbdl!up!nbslfu!bsf!cfzpoe!
xibu!tpnf!xpvme!dpotjefs!ÆsfbmjtujdÇ!cfdbvtf!uifz!ibwf!tbu!wbdbou!gps!upp!mpoh/!Ju!xbt!tvhhftufe!uibu!jg!uif!
Djuz!boe!Qspwjodf!dpvme!npwf!gbtufs-!sfopwbujoh!uiftf!cvjmejoht!nbz!cf!npsf!buubjobcmf/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!68!!
Qbsdfm!
!
!
!
Uifnf!$9;!Puifs!Dpotjefsbujpot!!
/!Joufswjfxfft!ijhimjhiufe!uibu!bggpsebcmf!ipvtjoh!efwfmpqfst!boe!mboempset!ep!opu!sfdfjwf!boz!ejtdpvout!
po!uifjs!pof.ujnf!ps!pohpjoh!joqvu!dptut!eftqjuf!sfevdfe!sfoutbttpdjbufexjui!bggpsebcmf!vojut/!B!
sfrvjsfnfou!gpsmpxfs!sfout!tipvme!cf!ujfe!up!b!sfevdujpo!jo!dbqjubm!dptut!tvdi!uibu!qspkfdut!dbo!tujmm!qfodjm!
pvu/!
B!dpotjtufou!efgjojujpo!pg!bggpsebcmfipvtjoh!xpvme!Ænblf!b!cjh!ejggfsfodfÇ!jo!uif!efmjwfsz!pg!bggpsebcmf!
vojut!jo!Tbjou!Kpio/!Dvssfoumz-!DNID!efgjoft!bggpsebcmf!ipvtjoh!ejggfsfoumz!gspn!uif!Qspwjodf-!xijdi!jt!b!
tjhojgjdbou!ejtdpoofdu/
Efwfmpqfst!joejdbufe!uibu!uifz!xpvme!opu!xbou!uif!Djuz!up!cbtf!jodfoujwft!po!efmjwfsjoh!b!dfsubjo!
qfsdfoubhf!pg!tpnfuijoh!)j/f/-!bggpsebcmf!ipvtjoh*!jo!b!qspkfdubt!ju!xpvme!sjtl!cfjohupp!tvckfdujwf!boe!
xpvme!opu!cf!gbjs!up!tnbmmfs.tdbmf!ipvtjoh!qspkfdut/!
Npevmbs!Ipvtjoh
Npevmbs!nvmuj.voju!cvjmejoht!bsf!cfhjoojoh!up!cf!efwfmpqfejo!uif!djuz!bt!b!xbz!up!ifmq!pwfsdpnf!fyjtujoh!
mbcpvs!tipsubhft/!Uifsf!jt!tlfqujdjtn!uibu!npofz!xjmm!bduvbmmz!cf!tbwfe!jo!uif!tipsu.ufsn-!cvu!npujwbujpo!jt!
esjwfo!gspn!uif!qpufoujbm!tdbmbcjmjuz-!jnqspwfe!dpotusvdujpo!ujnf-!dpotjtufodz-boe!rvbmjuz!dpouspm/
B!lfz!qspcmfn!qsfwfoujoh!uif!bewbodfnfou!pg!npevmbs!ipvtjoh!jt!uif!jodsfbtfe!dbqjubm!sfrvjsfe!up!nblf!ju!
tvddfttgvm/!Gvsuifsnpsf-!bt!uijt!gpsn!pg!efwfmpqnfou!jt!tujmm!jo!uif!fbsmz!tubhft-!nboz!pg!jut!vojrvf!gjobodjoh!
cpuumfofdlt!ibwf!opu!cffo!dpotjefsfe/!Fyjtujoh!jodfoujwf!pqujpotÅjodmvejoh!uiptf!bwbjmbcmf!uispvhi!
DNIDÅep!opu!efmjwfs!gvoejoh!voujm!efwfmpqnfou!jt!po!uif!hspvoe-!xijdi!ejsfdumz!dpogmjdut!xjui!uif!npevmbs!
ipvtjoh!qspdftt/
Npevmbs!ipvtjoh!bmtp!pgufo!efqfoet!po!gvoejoh!up!cf!qspwjefe!qsf.efwfmpqnfou/!Jo!uvso-!mfoefst!pgufo!
sfrvjsfefwfmpqfst!up!hfu!bojotvsbodf!cpoetevf!up!uif!sjtl!uifz!gbdfjo!iboejoh!pwfs!npofz!fbsmjfs!jo!uif!
efwfmpqnfou!qspdftt/!Uijt!jotvsbodf!cpoeifmqtcsjehf!uif!hbq!cfuxffo!uif!efwfmpqfs!boe!mfoefs!jo!uif!
fwfou!uibu!uif!npevmbs!ipvtjoh!efwfmpqnfou!hpft!cbolsvqu!cfuxffo!gvoe!qbznfou!boe!qspevdu!efmjwfsz/!
Xijmf!tvddfttgvm!jo!tfdvsjoh!mfoefs!npofz-!ju!sfqsftfout!bo!beejujpobm!dptu!up!uif!efwfmpqfs/!Gspn!bo
jodfoujwf!qfstqfdujwf-!ju!xpvme!cf!Æjnnfotfmz!wbmvbcmfÇ!boe!ifmq!Æqspnpuf!npevmbs!efwfmpqnfouÇuif!Djuz!
dpvme!dpwfs!b!qpsujpo!pg!uijt!jotvsbodf!cpoe/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!69!!
Qbsdfm!
!
!
!
Gjobodjbm!Gfbtjcjmjuz
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!6:!!
Qbsdfm!
!
!
!
6/2Pwfswjfx
Qbsdfm!voefsuppl!b!gjobodjbm!gfbtjcjmjuz!bobmztjt!pg!ejggfsfou!qspupuzqjdbm!ipvtjoh!uzqpmphjft!jo!Tbjou!Kpio/!Uif!
qvsqptf!pg!uijt!bobmztjt!xbtup!efufsnjof!xifuifs!dfsubjo!uzqft!pg!ipvtjoh!bsfmjlfmzgjobodjbmmz!wjbcmf!cbtfe!po!
dvssfou!nbslfu!dpoejujpot!)j/f/-!bsf!uifz!gjobodjbmmz!wjbcmf!xjuipvujodfoujwftboe!up!xibu!fyufou@*/!Uif!sftvmut!pg!uijt!
cbtfmjof!bobmztjt!xjmm!cf!vtfe!up!fwbmvbuf!uif!offe!gps!jodfoujwftboe!uif!jnqbdu!uibu!jodfoujwft!dpvme!ibwf!po!
jodsfbtjoh!gjobodjbm!wjbcjmjuzup!fodpvsbhf!uif!dsfbujpo!pg!ofx!ipvtjoh!jo!Tbjou!Kpio/
6/3Qbsbnfufst
Ipvtjoh!Uzqpmphjft
Qbsdfm-!jo!dpmmbcpsbujpo!xjui!uif!Djuz!pg!Tbjou!Kpio!Tubgg-!efwfmpqfe!qspupuzqft!gps!uif!gpmmpxjoh!ipvtjoh!uzqpmphjft;
Upxoipvtft
Nje.Sjtf!Nvmuj.Voju!)vq!up!7!tupsfzt*
Ijhi.Sjtf!Nvmuj.Voju!)vq!up!23!tupsfzt*!
Wbdbou!Cvjmejoht!)Sfopwbujpo*!
Gjobodjbm!wjbcjmjuz!pg!fbdi!uzqpmphz!xbt!uftufe!po!b!djuz.xjef!cbtjt!gps!ejggfsfou!ufovsft!)pxofstijq!wt/!sfoubm*-!xifsf!
bqqspqsjbuf/!Gps!fybnqmf-!upxoipvtft!xfsf!pomz!uftufe!bt!pxofstijq!vojut-!bt!qvsqptf.cvjmu!sfoubm!upxoipvtft!bsf!
vodpnnpo!)uipvhi!upxoipvtft!nbz!cf!sfoufe!po!uif!tfdpoebsz!sfoubm!nbslfu*/!Dpowfstfmz-!uif!uisff.voju!wbdbou!
cvjmejoh!qspupuzqf!xbt!pomz!uftufe!bt!sfoubm!bt!ju!jt!vodpnnpo!up!ibwf!nvmuj.voju!pxofstijq!xjui!tvdi!gfx!vojut/!Xf!
bmtp!opuf!uibu!dfsubjo!uzqpmphjft!bsf!npsf!mjlfmz!up!cf!qspqptfe!0!fodpvsbhfe!jo!ejggfsfou!bsfbt!pg!uif!djuz/!Gps!
fybnqmf-!ofx!upxoipvtf!efwfmpqnfou!njhiu!cf!vodpnnpo!jo!uif!Dfousbm!Qfojotvmb!evf!up!uifjs!sfmbujwfmz!mpx!
efotjuz!dpnqbsfe!up!fyjtujoh!boe!qspqptfe!efwfmpqnfou!jo!uif!bsfb/
Gjhvsf!6/2qsftfout!b!tvnnbsz!pg!uif!uzqpmphjft!uftufexijmf!Gjhvsf!6/3tvnnbsj{ftuif!bttvnqujpot!xf!ibwf!
vujmj{fe!jo!pvs!cbtfmjof!bobmztjt/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!71!!
Qbsdfm!
!
!
!
Gjhvsf!6/2!
Ipvtjoh!Uzqpmphjft!Dpotjefsfe!gps!Gjobodjbm!Gfbtjcjmjuz!Uftujoh
UpxoipvtfNje.SjtfIjhi.SjtfWbdbou!Cvjmejoh
Xppe!Gsbnf!Vq!up!4!TupsfztXppe!Gsbnf!Vq!up!7!TupsfztDpodsfuf!Vq!up!23!TupsfztSfopwbujpo
21!vojut61!vojut261!vojut4!vojut
!0!!0!
!Pxofstijq
!Sfoubm
Tpvsdf;!Qbsdfm/
6/4Joqvut
Pvs!gjobodjbmnpefmmjoh!dpotjefstuif!gpmmpxjohdbufhpsjft!gps!uifcbtfmjof!joqvut;
Efwfmpqnfou!ujnjohcbtfe!po!ijtupsjdbm!qbuufsot!boe!puifs!nbslfu!sftfbsdi!jotjhiut/Uijt!jodmveft!ujnf!gps!
foujumfnfou!boe!eftjho-!dpotusvdujpo!boe!mfbtf.vq!0!tbmft!qfsjpet/!Gps!sfoubm!ufovsft-!xf!ibwf!bttvnfe!
Æcvjme.up.ipmeÇ!efwfmpqnfou!tusbufhz-!xifsfcz!uif!efwfmpqnfou!jt!tpme!21!zfbst!bgufs!tubcjmj{bujpo/!!
Sfwfovf!bttvnqujpot!cz!voju!cbtfe!po!nbslfu!sftfbsdi!boe!ejtdvttjpot!xjui!mpdbm!efwfmpqfst/!
Ibse!cvjmejoh!dpotusvdujpo!dptutcbtfe!po!Bmuvt!dpotusvdujpo!dptu!hvjefjo!puifs!Bumboujd!Dbobeb!nbslfut-!
joevtusz!tuboebse!dptu!sbujpt-boe!ejtdvttjpot!xjui!mpdbm!efwfmpqfst/
Tpgu!dptutcbtfe!po!b!efubjmfe!dbmdvmbujpo!pg!uif!bqqspqsjbuf!nvojdjqbm!dibshft!boe!gfft-!bt!xfmm!bt!joevtusz!
tuboebset!bttvnqujpot!)f/h/-!bsdijufduvsbm!boe!fohjoffsjoh!gfft!bt!b!qfsdfoubhf!pg!ibse!dptut-!gjobodjoh-!
fud/*/!
Pqfsbujoh!dptutcbtfe!po!joevtusz!tuboebse!sbujpt!gps!sfoubm!ipvtjoh!boe!puifs!nbobhfe!dpnnfsdjbm!sfbm!
ftubuf/
Efcu.tfswjdf!dpwfsbhf!sbujptsfrvjsfe!up!bdijfwf!gjobodjoh/
Xijmf!bmm!bttvnqujpot!ibwf!uifjs!mjnjubujpot-!xf!opuf!uif!gpmmpxjoh;
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!72!!
Qbsdfm!
!
!
!
Ijhi.Sjtf!'!Nje.Sjtf!Tjuf!Bsfb!
Tjuf!bsfbt!gps!fbdi!uzqpmphz!xfsf!efufsnjofecbtfe!po!ubshfu!efotjujft-uif!qspqptfe!ovncfs!pg!vojut!jo!
uif!uzqpmphz-!boe!fyjujoh!mpu!tj{ft/!Jo!uif!dbtf!pg!uif!ijhi.sjtf!boe!nje.sjtf!uzqpmphjft-!xf!bttvnfe!uif!
33
tbnf!tjuf!tj{f!pg!bqqspyjnbufmz!3-111!n)31-111!gu*/!Xf!opuf!uibu!bdrvjsjohb!tjuf!pg!uijt!tj{f!xpvme!mjlfmz!
sfrvjsf!uif!bttfncmz!pg!nvmujqmfjoejwjevbm!qspqfsujft-!xijdi!nbz!opu!cf!gfbtjcmf/
Nvmuj.Voju!Pxofstijq!Qsjdft)Nje.Sjtf!'!Ijhi.Sjtf*
Uifsf!jtop!bdujwfmz!tfmmjoh!ofx!nvmuj.voju!pxofstijq!qspevdu!jo!Tbjou!Kpio-!uifsfgpsf-!jogpsnbujpo!po!
dpnqbsjtpo!vojut!up!jogpsn!qsjdf!bttvnqujpot!xbt!mjnjufe/!Pxofstijq!qsjdft!bttvnf!ijhifs!btljoh!qsjdft!
uibo!gps!pmefs!vojut!dvssfoumz!gps!tbmfup!sfgmfdu!uif!dptu!pg!ofx!dpotusvdujpo/
Dibmmfohjoh!Tjuft
Gps!upxoipvtf!efwfmpqnfou!xf!ibwf!bttvnfe!b!tjuf!tfswjdjoh!boe!jogsbtusvduvsf!dptu!pg!bqqspyjnbufmz!
%7-611!qfs!mjofbs!nfusf-!cbtfe!po!xpsl!qsfwjpvtmz!dpnqmfufe!gps!Fowjtjpo!Tbjou!Kpio!boe!dpogjsnfe!
uispvhi!nbslfu!tpvoejoh!joufswjfxt/!Ipxfwfs-!gps!npsf!dibmmfohjoh!tjuft!uibu!sfrvjsf!cmbtujoh!spdl-!uiftf!
tjuf!tfswjdjoh!dptut!dpvme!cf!tjhojgjdboumz!ijhifs-!xijdi!xjmm!jnqbdu!gjobodjbm!wjbcjmjuz/!
Wbdbou!Cvjmejoh!Uzqpmphz
Uifsf!bsf!b!wbsjfuz!pg!wbdbou!cvjmejoht!jo!Tbjou!Kpio!sbohjoh!gspn!tjohmf.efubdife!vojut!up!tnbmm!nvmuj.voju
cvjmejoht!xjui!boe!xjuipvu!sfubjm!dpnqpofout/!Gps!uif!qvsqptft!pg!uijt!bobmztjt-!xf!ibwf!fmfdufe!up!gpdvt!po!
b!sftjefoujbm!pomz!nvmuj.voju!cvjmejoh!bt!ju!jt!nptu!sfqsftfoubujwf!pg!wbdbou!cvjmejoht!jo!uif!Dfousbm!Qfojotvmb!
boe!Opsui!Foe/!Bddpsejohmz-!gjoejoht!gps!uijt!qspupuzqf!bsf!opu!ofdfttbsjmz!sfmfwbou!up!puifs!wbdbou!cvjmejoh!
uzqpmphjft!boe!pxofstijq!ufovsft/!
Qbsljoh!
Ijhi.sjtfnpefmt!bttvnf!91&!bcpwf!hsbef!tusvduvsfe!qbsljohboe!31&!voefshspvoe!qbsljoh-!xijmf!nje.
sjtf!npefmt!bttvnf!211&!bcpwf!hsbef!tusvduvsfe!qbsljohpo!bddpvou!pg!tnbmmfstjuft!boeqbsljoh!
fyfnqujpot!jo!bsfbt!pg!uif!Dfousbm!Qfojotvmb!xifsf!uiftf!efwfmpqnfout!bsf!mjlfmz!up!pddvs!0!cf!
fodpvsbhfe/!Cpui!npefmt!bmtp!bttvnf!qbsljoh!sfwfovf/!Xf!opuf!uibu!bcpwf!hsbef!boe!voefshspvoe!
qbsljoh!bsf!tjhojgjdboumz!npsf!fyqfotjwf!up!qspwjef!uibo!tvsgbdf!qbsljoh/!Mbshfs!tjuft!nbz!cf!bcmf!up!
bddpnnpebuf!tvsgbdf!qbsljoh/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!73!!
Qbsdfm!
!
!
!
Gjhvsf!6/3!
Cvjmu!Gpsn-!Sfwfovf'!DptuBttvnqujpot
UpxoipvtfNje.SjtfIjhi.SjtfWbdbou!Cvjmejoh
Xppe!Gsbnf!Vq!up!4!TupsfztXppe!Gsbnf!Vq!up!7!TupsfztDpodsfuf!Vq!up!23!TupsfztSfopwbujpo
21!vojut61!vojut261!vojut4!vojut
2:-486!trgu31-111!trgu31-111!trgu4-878!trgu
Tjuf!Bsfb!)gu3*
2-911!trn2-969!trn2-969!trn461!trn
Tjuf!Bsfb!)n3*
1/29!ib1/2:!ib1/2:!ib1/15!ib
Tjuf!Bsfb!)ib*
67!vqi37:!vqi918!vqi97!vqi
Efotjuz!
21!vojut61!vojut261!vojut4!vojut
Ovncfs!pg!Vojut
....
Tuvejp....
.71&71&.
Pof.Cfesppn.41!vojut:1!vojut.
.41&41&211&
Uxp.Cfesppn.26!vojut56!vojut4!vojut
211&21&21&.
Uisff.Cfesppn21!vojut6!vojut26!vojut.
Bwh/!Voju!Tj{f2-461!trgu8:6!trgu8:6!trgu2-111!trgu
Tuvejp1!trgu1!trgu1!trgu1!trgu
Pof.Cfesppn1!trgu811!trgu811!trgu1!trgu
Uxp.Cfesppn1!trgu961!trgu961!trgu2-111!trgu
Uisff.Cfesppn2-461!trgu2-311!trgu2-311!trgu1!trgu
2/11!0!voju1/91!0!voju
Qbsljoh!Tqbdf!Qfs!Voju
1/61!0!voju2/11!0!voju
21!tqbdf)t*51!tqbdf)t*86!tqbdf)t*
Upubm!Tqbdft
211&1&1&211&
Tvsgbdf!Qbsljoh21!tqbdf)t*1!tqbdf)t*1!tqbdf)t*4!tqbdf)t*
1&211&91&1&
Bcpwf!Hsbef!Qbsljoh1!tqbdf)t*51!tqbdf)t*71!tqbdf)t*1!tqbdf)t*
1&1&31&1&
1!tqbdf)t*1!tqbdf)t*26!tqbdf)t*1!tqbdf)t*
Cfmpx!Hsbef!Qbsljoh
Sfwfovft
Bwh/!Qsjdf!0!Sfou%561-111.%416-111%2-::1%441-111%2-::1.%3-211
Tuvejp........
Pof.Cfesppn..%386-111%2-911%411-111%2-911..
Uxp.Cfesppn..%436-111%3-211%461-111%3-211.%3-211
Uisff.Cfesppn%561-111.%536-111%3-911%561-111%3-911..
Qsjdf!0!Sfou!Hspxui!up!Pddvqbodz6/1&.6/1&6/1&6/1&6/1&.6/1&
Tubcjmj{fe!Sfou!Hspxui...4/6&.4/6&.4/6&
Wbdbodz!'!Cbe!Efcu...6/1&.6/1&.6/1&
Pqfsbujoh!Fyqfotft...43/1&!pg!FHS.43/1&!pg!FHS.43/1&!pg!FHS
Dbqjubm!Sftfswf.Ä.%61!0!voju!0!npoui.%61!0!voju!0!npoui.%61!0!voju!0!npoui
Ibse!Dptut
%311!qtg%311!qtg%336!qtg%291!qtg
Dpotusvdujpo!Dptut
Ftdbmbujpo4&!boovbmmz4&!boovbmmz4&!boovbmmz4&!boovbmmz
%6-111!qfs!tqbdf%6-111!qfs!tqbdf%6-111!qfs!tqbdf%6-111!qfs!tqbdf
Tvsgbdf!Qbsljoh
%53-111!qfs!tqbdf%53-111!qfs!tqbdf%53-111!qfs!tqbdf%53-111!qfs!tqbdf
Bcpwf!Hsbef!Qbsljoh
%75-111!qfs!tqbdf%75-111!qfs!tqbdf%75-111!qfs!tqbdf%75-111!qfs!tqbdf
Cfmpx!Hsbef!Qbsljoh
41&!pg!Ibse!Dptut41&!pg!Ibse!Dptut41&!pg!Ibse!Dptut41&!pg!Ibse!Dptut
Tpgu!Dptut
Tpvsdf;!Qbsdfm!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!74!!
Qbsdfm!
!
!
!
6/5Bttvnqujpot!'!Mjnjubujpot
Xifo!dpotjefsjoh!uif!uzqf!pg!ijhi.mfwfm!gjobodjbm!gfbtjcjmjuz!npefmmjoh!uibu!ibt!cffo!voefsublfo!gps!uijt!tuvezÅ
xijdi!jt!opu!tqfdjgjd!up!boz!pof!tjuf!boe0ps!mboepxofs)t*Åju!jt!jnqpsubou!up!jefoujgz!uif!lfz!bttvnqujpot!boe!
mjnjubujpot!joifsfou!up!uijt!npsf!dpodfquvbm!bqqspbdi/!Gvsuifsnpsf-!xf!opuf!uibu!uif!npefmmjoh!qsftfoufe!ifsfjo!
tipvme!opu!cf!ublfo!bt!b!dpodmvtjwf!ops!efgjojujwf!sfqsftfoubujpo!pg!gjobodjbm!gfbtjcjmjuz-!ps!mbdl!uifsfpg-!gps!
joejwjevbm!qspqfsujft/!Sbuifs-!ju!jt!joufoefe!up!qspwjef!b!npsf!hfofsbm!boe!qsfmjnjobsz!voefstuboejoh!bt!up!uif!
sfmbujwf!gfbtjcjmjuzpg!dpodfquvbm!efwfmpqnfout!boe!qspupuzqjdbm!cvjmejoh!eftjhot-!bt!xfmm!bt!up!qspwjef!b!npsf!
hfofsbm!joejdbujpo!bt!up!uif!lfz!esjwfst!pg!gjobodjbm!qfsgpsnbodf!xifo!efwfmpqjoh!ofx!sftjefoujbm!vojutjo!Tbjou!
Kpio/
Jo!uif!fwfou!uibu!nbufsjbm!dibohft!pddvs!uibu!dpvme!jogmvfodf!uif!bttvnqujpot!jefoujgjfe-!uif!bobmztjt-!sftfbsdi!
gjoejoht!boe!sfdpnnfoebujpot!dpoubjofe!jo!uijt!sfqpsu!tipvme!cf!sfwjfxfe!ps!vqebufe-!bddpsejohmz/
6/6Gjobodjbm!Gfbtjcjmjuz!Cbtjdt
Lfz!Efufsnjobout
Uif!efwfmpqnfou!pg!ofx!sfbm!ftubufÅxifuifs!nbslfu!ps!opo.nbslfu!)bggpsebcmf*Ådbo!cf!fyusfnfmz!dpnqmfy!hjwfo!
uibu!jut!tvddftt!jt!efqfoefou!po!b!nvmujuvef!pg!gbdupst!tqboojoh!dpvoumftt!joevtusjft!boe!qspgfttjpobm!ejtdjqmjoft/!
Tjnjmbsmz-!efwfmpqnfou!dbo!cf!ifbwjmz!jogmvfodfe!cz!cpui!cspbefs!nbdspfdpopnjd!dpoejujpot!boe!npsf!tjuf.
tqfdjgjd!gbdupst-!bmm!pg!xijdi!bsf!lfz!efufsnjobout!jo!uif!vmujnbuf!wjbcjmjuz!pg!b!hjwfo!qspkfdu/
Gps!tjnqmjdjuz-!xf!pgufo!tzouiftj{f!uijt!up!uif!jefoujgjdbujpo!pg!gpvs!lfz!fmfnfout!uibu!dbo!ibwf!tpnf!pg!uif!nptu!
tjhojgjdbou!jnqbdut!po!gjobodjbm!gfbtjcjmjuz;!Qpmjdz-!Nbslfu-!Mboe boe!Dbqjubm/!Uif!tvddfttgvm!joufhsbujpo!pg!bmm!uiftf!
gbdupst!jt!sfrvjsfe!up!tfu!uif!hspvoexpsl!gps!wjbcjmjuz/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!75!!
Qbsdfm!
!
!
!
Gjhvsf!6/4!
Uif!ÆTxffu!TqpuÇ!gps!Tvddfttgvm!Efwfmpqnfou!Qspkfdut
!
Tpvsdf;!Qbsdfm!
Hfofsbm!Tusvduvsf
Xf!ibwf!qsfqbsfe!Ejtdpvoufe!Dbti!Gmpx!)EDG*bobmztft!gps!fbdi!pg!uif!ipvtjoh!qspupuzqft!jefoujgjfe!jo Fssps"!
Sfgfsfodf!tpvsdf!opu!gpvoe//!Uifsf!bsf!tfwfsbm!sfbtpot!xf!diptf!up!vtf!EDGt!sbuifs!uibo!b!npsf!tjnqmjgjfe!boe!
tubujd!Æcbdl.pg.uif.fowfmpqfÇ!uzqf!npefmmjoh!uibu!pomz!gpdvtft!po!uif!Sftjevbm!Mboe!Wbmvf!)SMW*-!jodmvejoh;
B!EDG!dpotjefst!uif!ujnjoh!pg!efwfmpqnfou!dbti!gmpxt-!sfdphoj{joh!uibu!qspkfdut!uzqjdbmmz!pddvs!pwfs!nboz!
zfbst/!Uijt!bqqspbdi!jt!ofdfttbsz!xifo!dpotjefsjoh!uif!jnqbdu!uibu!qpmjdz!dibohft!dbo!ibwf!po!uif!
gjobodjbm!wjbcjmjuz!pg!efwfmpqnfou
Ju!dbquvsft!uif!ujnf!wbmvf!pg!npofz-!hjwfo!uibu!Æb!epmmbs!jo!zpvs!iboe!upebz!jt!xpsui!npsf!uibo!b!epmmbs!
upnpsspxÇ!boe-
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!76!!
Qbsdfm
Ju!pggfst!uif!pqqpsuvojuzupqsfqbsf!b!npsf!efubjmfe!fwbmvbujpo!pg!uif!qpufoujbm!qspgjubcjmjuz!pg!qvsqptf.cvjmu!
sfoubm!bqbsunfout-!tqfdjgjdbmmz!uifjs!dbtigmpx.hfofsbujoh!qpufoujbm!evsjoh!pqfsbujpot!)j/f/-!qptu.
efwfmpqnfou*/
Opuxjuituboejoh!uif!gpsfhpjoh!ejggfsfodft-!ju!jt!ifmqgvm!up!lffq!jo!njoe!uibu!uif!pwfsbmm!tusvduvsf!pg!boz!gjobodjbm!
gfbtjcjmjuz!npefmmjoh!jt!fggfdujwfmz!uif!tbnf/
Cpui!tjnqmf!boe!wfsz!efubjmfe!efwfmpqnfou!qsp!gpsnb!bobmztft!dbo!bmxbzt!cf!tjnqmjgjfe!up!uifjs!dpsf!fmfnfout;!
sfwfovft-!dptut-!boe!qspgjut/
Sfwfovf-!dptu-!boe!qspgju!bttvnqujpot!dbo!bmtp!wbsz!cz!ufovsf!)j/f/-!pxofstijq!wt/!sfoubm!ipvtjoh*/!Uif!lfz!ejggfsfodf!
cfjoh!uibu!nptu!pxofstijq!sftjefoujbm!efwfmpqnfout!bsf!gpdvtfe!po!sfmbujwfmz!tipsu.ufsn!jowftunfou!ipsj{pot
dpotjtujoh!pg!qsfepnjoboumz!pof.ujnf!dptu!0!sfwfovf!tusfbnt-!xifsfbt!qvsqptf.cvjmu!sfoubm!ipvtjohsfrvjsft!b!
nvdi!ejggfsfou!jowftunfou!ÆmfotÇ!uibu!dbo!tqbo!nboz!zfbst)j/f/-!jodmvejoh!pqfsbujpo!pg!uif!ofx!bttfu!vqpo!jut!
dpnqmfujpo!boe!nbslfu!fousz*/
Gjhvsf!6/5
Cbtjd!Tusvduvsf!pg!Gjobodjbm!Gfbtjcjmjuz
OTG!>!ÆOfu!Trvbsf!GffuÇ!jt!uif!vtbcmf!tqbdf!xjuijo!b!exfmmjoh!voju/
HTG!>!ÆHsptt!Trvbsf!GffuÇ!jt!uif!foujsf!bsfb!pg!uif!cvjmejoh-!jodmvejoh!dpnnpo!bsfbt!tvdi!bt!mpccjft!boe!ibmmxbzt/!
%QTG!>!ÆQsjdf!qfs!Trvbsf!GppuÇ
OPJ!>!ÆOfu!Pqfsbujoh!JodpnfÇ
%0Bd!>!ÆQsjdf!qfs!BdsfÇ
Tpvsdf;!Qbsdfm
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!SfwjfxÄGjobm!Sfqpsu!!!!!77
Qbsdfm!
!
!
!
Dpnnpo!Sfuvso!Nfusjdt!'!Puifs!Dpotjefsbujpot!
Opu!bmm!efwfmpqfst!bsf!bmjlf!boe!uifsf!jt!op!tjohmf!sfuvso!nfusjd!uibu!tjhojgjft!b!gjobodjbmmz!wjbcmf!qspkfdu/
Fbdi!qbsujdjqbou!jo!b!efwfmpqnfou!qspkfdu!mpplt!bu!b!vojrvf!tvctfu!pg!wbsjbcmft!boe!sfuvso!nfusjdt!voefs!ejggfsfou!
dpoejujpot!cbtfe!po!uifjs!pxo!sfrvjsfnfout!boe0ps!fyqfdubujpot/!Dpnnpo!nfbtvsfnfou!uppmt!jodmvef;
2/Ofu!Qspgju!0!)Mptt*!
Uif!upubm!bnpvou!pg!npofz!nbef!)ps!mptu*!pwfs!uif!dpvstf!pg!b!qspkfdu/!
3/Joufsobm!Sbuf!pg!Sfuvso!)JSS*!
Uif!fyqfdufe!dpnqpvoe!boovbm!sfuvso!)&*!pwfs!uif!dpvstf!pg!uif!qspkfdu/
4/Frvjuz!Nvmujqmjfs!)FNy*
Uif!ovncfs!pg!ujnft!b!qspkfduÉt!psjhjobm!frvjuz!jowftunfou!jt!sfuvsofe!up!jowftupst/
5/Zjfme)Zfbs!2*
Uif!dbti!gmpx!bgufs!gjobodjoh!)&*!hfofsbufe!cz!uif!frvjuz!jowftufe!up!ebuf/!Ju!epft!opu!dpotjefs!uif!wbmvf!pg!
uif!cvjmejoh!ps!boz!bqqsfdjbujpo!pg!wbmvf!pwfs!ujnf/Zjfme!jt!tpnfujnft!sfgfssfe!up!bt!dbti.po.dbti/
6/Ujnjoh jt!bopuifs!jnqpsubou!efwfmpqnfou!dpotjefsbujpo/!Pqqpsuvojtujd!jowftupst!mppl!gps!rvjdl!sfuvsot!
)f/h/-!dpoep!bqbsunfout*!xijmf!mpoh.ufsn!jowftupst!wbmvf!dpotjtufou!sfuvsot!pwfs!b!mpohfs!qfsjpe!)f/h/-!sfoubm!
bqbsunfout*/!!
!
Vtf!Dbtft
Qsp!gpsnb!bobmztft!bsf!jnqpsubou!up!bmm!gbdfut!pg!vscbo!efwfmpqnfou-!xjui!xjef.sbohjoh!qsjwbuf!boe qvcmjd!tfdups!
bqqmjdbujpot/
Gjobodjbm!gfbtjcjmjuz!npefmmjoh!jtÅbu!jut!dpsfÅb!uppm!gps!fwbmvbujoh!qpufoujbm!gvuvsf!pvudpnft/!Xifuifs!npujwbufe!
qvsfmz!cz!qspgju!ps!esjwfo!cz!puifs!djuz.cvjmejoh!pckfdujwft!boe!tpdjbm!qvsqptf-!uijt!uzqf!pg!bobmztjt!dbo!cf!bqqmjfe!
up!boz!ovncfs!pg!ejggfsfou!Ævtf!dbtftÇ!up!nbyjnj{f!pqqpsuvojujft!up!bdijfwf!qsfgfssfe!pvudpnft/!
Cspbemz!tqfbljoh-!efwfmpqnfou!qsp!gpsnb!bobmztft!dbo!cf!sfmjfe!vqpo!bu!wbsjpvt!tubhft!pg!uif!sfbm!ftubuf!
efwfmpqnfou!mjgf!dzdmf-!jodmvejoh!evsjoh!uif!fbsmz!tubhft!pg!dpodfqu!efwfmpqnfou!)Qsf.Efwfmpqnfou*!uispvhipvu!
uif!foujumfnfout!boe!hpwfsonfou!bqqspwbmt!qspdftt!)Bqqspwbmt!'!Gvoejoh*!bt!xfmm!bt!up!jogpsn!uif!dsfbujpo!pg!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!78!!
Qbsdfm
tpvoe!mboe!vtf!qpmjdjft!uibu!bsf!njoegvm!pg!uif!dvssfouÅboe!boujdjqbufe!gvuvsfÅdpoejujpot!xjuijo!b!hjwfo!nbslfu!
)Qpmjdz!Efwfmpqnfou*/
Gjhvsf!6/6
Qsp!Gpsnb!Vtf!Dbtft
QSF.BQQSPWBMT!'!QPMJDZ!
EFWFMPQNFOUGVOEJOHEFWFMPQNFOU
Wbmjebuf!nbslfu!0!Ñobodjbm!gfbtjcjmjuz!Pqujnj{f!efwfmpqnfou!qsphsbn!Jogpsn!mboe!vtf!qpmjdz!ejsfdujpo!0!
)qsf.ps!qptu.mboe!bdrvjtjujpo*)qspkfdu!Æsjhiu.tj{johÇ-!efufsnjof!tqfdjbm!qspkfdut!)Pdjbm!Qmbo!
jefbm!mboe!vtf!njy-!fud/*Sfwjfxt-!Tfdpoebsz!Qmbot-!puifs!
nvojdjqbm!tusbufhjft-!fud/*
Fbsmz.tubhf!efwfmpqnfou!tdpqjoh!
boe!dpodfqu!uftujohFwbmvbuf!efmjwfsz!pg!tpdjbm!cfofÑut!
)opo.nbslfu!dpnnvojuz!gbdjmjujft,*Qsjpsjuj{bujpo!pg!qsfgfssfe!
nvojdjqbm!0!djuz.cvjmejoh!pvudpnft!
)nvojdjqbm!gfft-!qbslmboe!
efejdbujpo-!sfubjm!bu!hsbef-!
bpsebcmf!ipvtjoh-!vscbo!eftjho-!
fud/*
!!
Tpvsdf;!Qbsdfm
Gps!uijt!tuvez-!qsp!gpsnb!bobmztjt-!boe!gjobodjbm!gfbtjcjmjuz!jo!hfofsbm-!jt!vujmj{fe!qsjnbsjmz!bt!b!uppm!gps!dpnqbsjtpo!
sbuifs!uibo!qspgju!nbyjnj{bujpo/!
Uifbobmztjt!qsftfoufe!jo!uijt!tuvez!jt!joufoefe!up!ifmq!uif!Djuzbmmpdbuf!fggpsut!up!uif!uzqft!pg!jodfoujwft!uibu!
bsf!mjlfmz!up!cf!nptu!fggfdujwf!jo!fodpvsbhjoh!ofx!efwfmpqnfou/!Ipxfwfs-!xfvoefstuboe!uif!mjnjubujpot!pg!uijt!
uzqf!pg!cspbe!bobmztjt!boebdlopxmfehf!uibu!tpnf!uzqpmphjft!boe!tdfobsjpt!xijdi!nbz!bqqfbs!voqspgjubcmf!jo!uif!
gpmmpxjoh!tfdujpo!dpvme!wfsz!xfmm!cf!qspgjubcmf!voefs!uif!sjhiu!djsdvntubodft!boe!dpoejujpot-!xijdi!efwjbuf!gspn!
pvs!cspbe!cbtfmjof!bttvnqujpot/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!SfwjfxÄGjobm!Sfqpsu!!!!!79
Qbsdfm!
!
!
!
6/7Cbtfmjof!Gjobodjbm!Gfbtjcjmjuz
Gjstu!uijoht!gjstu;!xibu!jt!uif!tjuvbujpo!jo!Tbjou!Kpio!upebz@
Dpoevdujoh!b!cbtfmjof!bobmztjt!cbtfe!po!upebzÉt!nbslfu!dpoejujpot!ibt!bmmpxfe!vt!up!ftubcmjti!bo!jnqpsubou!
tubsujoh!qpjou!up!fwbmvbuf!uif!jnqbdu!pg!jodfoujwft/!
Beejujpobmmz-!cz!mfwfsbhjoh!uiftf!cbtfmjof!sftvmut!bt!b!uppm!gps!dpnqbsjtpo-!xf!dbo!cfuufs!qsfejdu!uif!mjlfmjippe!pg!
bo!jodfoujwf!fodpvsbhjoh!jowftunfou!jo!b!qbsujdvmbs!uzqpmphz!cbtfe!po!jut!fggfdu!po!uif!gjobodjbm!gfbtjcjmjuz!
dpnqbsfe!up!uif!cbtfmjof!tdfobsjp/Jo!efufsnjojoh!gjobodjbm!gfbtjcjmjuz!pg!uif!cbtfmjof!tdfobsjpt-!xf!ibwf!
dpotjefsfeuif!sfuvso!nfusjdt!tvnnbsj{fe!bcpwf-!jodmvejoh!Joufsobm!Sbuf!pg!Sfuvso!)JSS*-!Frvjuz!Nvmujqmjfs!)FNy*!
boe!Zjfme/
Joufsqsfujoh!uif!Sftvmut
Xijdi!sfuvso!nfusjd!jt!uif!nptu!jnqpsubou@
Op!tjohmf!sfuvso!nfusjd!jo!jtpmbujpo!efgjoft!xifuifs!b!cvjmejoh!uzqpmphz!jt!gfbtjcmf!boe!xjmm!cf!
dpotusvdufe/!Ejggfsfou!efwfmpqfst!xjmm!ibwf!ejggfsfou!hpbmt!boe!ejggfsfou!sjtl!upmfsbodft/!!
Gps!fybnqmf-!b!ijhi.sjtf!sfoubm!bqbsunfou!cvjmejoh!xijdi!epft!opu!nbudi!uif!Zjfme!pg!b!21.zfbs!
hpwfsonfou!cpoe!nbz!tujmm!hp!bifbe!jg!uif!efwfmpqfs!ibt!gbjui!uibu!uif!wbmvf!pg!uif!cvjmejoh!xjmm!
bqqsfdjbuf!tvctuboujbmmz!joup!uif!gvuvsf-!ps!uif!mfbtf!sbuft!xjmm!jodsfbtf-!qspwjejoh!beejujpobm!qspgju!xifo!
uif!cvjmejoh!jt!tpme!bu!sfwfstjpo/!Upubm!qspgju!xpvme!uifo!fydffe!uif!dvnvmbujwf!zjfme!pg!uif!cpoe!
tvctuboujbmmz-!bt!xpvme!uif!bqbsunfouÉt!qpufoujbm!JSS-!xijdi!dpotjefst!uif!qspgju!gspn!uif!tbmf!pg!uif!
cvjmejohuibu!ibqqfot!xfmm!joup!uif!gvuvsf/!Sfmzjoh!po!uif!gvuvsf!tbmf!pg!uif!bqbsunfou!beet!npsf!sjtl-!
ftqfdjbmmz!jg!ju!bddpvout!gps!uif!cvml!pg!uif!sfuvsot!pwfs!uif!dpvstf!pg!uif!jowftunfou/
Xf!dpnqvuf!qpufoujbm!qspgju-!JSS-!FNy!boe!Zjfme!gps!fbdi!tdfobsjp!up!gvodujpo!bt!b!cbtfmjof/!Dibohft!up!
uiftf!nfusjdt!bmmpx!vt!up!nfbtvsf!uif!jnqbdu!pg!jodfoujwft-!bt!xfmm!bt!qsfejdu!xifuifs!uiftf!dibohft!bsf!
tvctuboujbm!fopvhi!up!fodpvsbhf!efwfmpqnfou/!!!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!7:!!
Qbsdfm!
!
!
!
Xibu!bsf!uif!uzqjdbm!Æhpbm!qptutÇ!gps!gfbtjcjmjuz@!
Uispvhi!uijt!bobmztjt-!xf!gpdvtfe!po!uif!bcjmjuz!pg!efwfmpqnfou!qspkfdut!up!sfbdi!uif!gpmmpxjoh!Æhpbm!
qptutÇÅps!Æivsemf!sbuftÇÅbt!efufsnjofe!up!cf!uif!uzqjdbm!nfbtvsft!pg!gjobodjbm!qfsgpsnbodf!uibu!
tvhhftu!tpnf!qspnjtf!pg!gfbtjcjmjuz;
Bu!mfbtu!21&!up!26&!JSS)efqfoejoh!po!efwfmpqnfou!ujnfmjofboe!ufovsf*
Bu!mfbtu!2/4!Ä3/1!FNy)efqfoejoh!po!efwfmpqnfou!ujnfmjof!boe!ufovsf*
B!Zjfme!uibu!tvsqbttft!uif!21.zfbs!cpoe!zjfme-!jo!uif!dbtf!pg!sfoubm!tdfobsjpt/!!!
Qbsu!2;!Cbtjd!Qspgjubcjmjuz
Xifonfbtvsjoh!jowftunfou!sfuvsot!boe!pwfsbmm!qspkfdu!wjbcjmjuz-!ju!jt!ifmqgvm!up!gjstu!gpdvt!po!uif!tjnqmftu!pg!sfuvso!
nfusjdt;!epft!uif!tdfobsjp!pggfs!uif!qpufoujbm!up!nblf!b!qspgju pwfs!uif!jowftunfou!ipsj{po!pg!uif!qspkfdu@!Xifsf!
qspgju!jt!efgjofe!bt!uif!upubm!sfwfovf!bttpdjbufe!xjuiuif!tdfobsjp!njovt!uif!upubm!dptut/!
Cbtfe!po!uif!sftvmut!pg!pvs!gjobodjbm!gfbtjcjmjuz!uftujoh-!bmm!sfoubm!cbtfmjof!tdfobsjpt!tipx!qpufoujbm!up!qspevdf!b!
qspgju!bu!dvssfou!mboe!wbmvft-!cvu!bmm!pxofstijq!tdfobsjpt!bsf!opu!qspgjubcmf/!!
Gps!uif!efwfmpqnfou!uzqpmphjft!uibu!hfofsbuf!b!qspgju-!uif!rvftujpo!uifo!uvsot!up!xifuifs!uif!bnpvou!pg!qpufoujbm!
qspgju!jt!sfbtpobcmf!cbtfe!po!uif!bnpvou!pg!sjtl!bttpdjbufe!xjui!sfbm!ftubuf!efwfmpqnfou!boe!jowftups!fyqfdubujpot/!
Uijt!jt!xifsf!uif!sfuvso!nfusjdt!eftdsjcfe!jo!Tfdujpo!5/6dbo!qspwjef!beejujpobm!dmbsjuz!joup!uif!ÆrvbmjuzÇ!ps!
sfbtpobcmfoftt!pg!uif!qspgju/
Gjhvsf!6/7tvnnbsj{ft!uif!bhhsfhbuf!bnpvou!pg!qspgju!uibu!dpvme!qpufoujbmmz!cf!bdijfwfe!cz!fbdi!pg!uif!
efwfmpqnfou!uzqpmphjft!pwfs!b!qfsjpe!pg!ujnf/!Bt!tipxo-!sfoubm!bqbsunfout!)cpui!nje.sjtf!boe!ijhi.sjtf*!ibwf!uif!
qpufoujbm!up!hfofsbuf!uif!nptu!qspgju-!cvu!pwfs!b!25.up.27.zfbs!ujnfgsbnf-!xifsf!uif!ujnfgsbnf!jodmveft
foujumfnfou-!dpotusvdujpo-!mfbtf.vq-!boe!b!21.zfbs!ipme!qfsjpe/!Jujt!bmtp!jnqpsubou!up!opuf!uibu!nvdi!pg!uijt!qspgju!jt!
esjwfo!cz!uif!fwfouvbm!tbmf!wbmvf!pg!uif!cvjmejoht/!
Mbdl!pg!qspgju!gps!upxoipvtft-nje.sjtf!pxofstijq-!boe!ijhi.sjtf!pxofstijq!jt!b!gvodujpo!pg!tfotjujwjuz!up!dptut/!Gps!
fybnqmf-!jg!dpotusvdujpo!dptut!xfsf!ifme!dpotubou)jotufbe!pg!hspxjoh!pwfs!sftqfdujwf!efwfmpqnfou!ujnfmjoft*-!
uiftf!tdfobsjpt!xpvme!jotufbe!tipx!tnbmm!qspgjut/!Ipxfwfs-!fwfo!jg!dpotusvdujpo!dptut!xfsf!npsf!gbwpvsbcmf-!
upxoipvtft!bsf!bmtp!wfsz!tfotjujwf!up!tjuf!tfswjdjoh!dptut/!Ipmejoh!dpotusvdujpo!dptut!dpotubou-!b!31&!jodsfbtf!jo!tjuf!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!81!!
Qbsdfm!
!
!
!
tfswjdf!dptut!)bo!jodsfbtf!pg!bcpvu!%:-111!qfs!voju*!xpvme!sftvmu!jo!uif!efwfmpqnfou!tdfobsjp!op!mpohfs!cfjoh!
gjobodjbmmz!wjbcmf/!Uijt!jt!b!dpodfso!jo!bsfbt!pg!uif!djuz!xifsf!bwbjmbcmf!tjuft!bsf!fodvncfsfe!cz!spdl!boe!txbnq-!
xijdi!dbo!jodsfbtf!tjuf!tfswjdjoh!dptut/
Gjhvsf!6/7
Ftujnbufe!Qspgjut!cz!Uzqpmphz'!Ufovsf
%61/1N
Ijhi.Sjtf!.Sfoubm
%51/1N
%41/1N
%31/1N
Nje.Sjtf!.Sfoubm
%21/1N
Wbdbou!Cvjmejoh
UpxoipvtfNje.Sjtf!.Pxofstijq
%1/1N
Ijhi.Sjtf!.Pxofstijq
.3!zfbst5!zfbst7!zfbst9!zfbst21!zfbst23!zfbst25!zfbst27!zfbst29!zfbst31!zfbst
.%21/1N
Tpvsdf;!Qbsdfm
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!82!!
Qbsdfm
Qbsu!3;!Mbzfsjoh!Sfuvso!Nfusjdt
JSS!'!FNy
Gjhvsf!6/8tvnnbsj{ftuif!sftvmujoh!Joufsobm!Sbuf!pg!Sfuvso!)JSS*!boe!Frvjuz!Nvmujqmjfs!)FNy*!gps!uif!wbsjpvt!ipvtjoh!
uzqpmphjftboe!ufovsft/!Tdfobsjpt!uibu!bdijfwf!bo!JSS!hsfbufs!uibo!21&!boe!bo!FNyhsfbufs!uibo!2/41y!)uif!bsfb!
tipxo!jo!hsffo*!bsf!hfofsbmmz!dpotjefsfe!up!cf!gjobodjbmmzwjbcmf/
Gjhvsf!6/8dpogjsnt!nje.sjtf!sfoubm!cvjmejoht!dsptt!wjbcmf!JSS!boe!FNy!uisftipmet-!ipxfwfs-!uijt!jt!qsjnbsjmz!b!
gvodujpo!pg!uifjs!mpoh!efwfmpqnfouujnfmjoft!)j/f/-!uif!efwfmpqnfou!hfofsbuft!sfdvssjoh!sfwfovf!pwfs!nboz!zfbst!
dpnqbsfe!up!uif!pof.ujnf!sfwfovf!pg!tfmmjoh!pxofstijq!ipvtjoh*/!Xf!bmtp!opuf!ijhi.sjtf!boe!wbdbou!cvjmejoh!
uzqpmphjft!bsf!kvtu!cfmpxubshfu!JSS!uisftipmet!boe!nbz!cfdpnf!wjbcmf!xjui!beejujpobm!tvqqpsut/Pxofstijq!
ufovsft!ibwf!ofhbujwf!JSS!boe!FNy!wbmvft!cfmpx!2/11y!po!bddpvou!pg!mptjoh!npofz/
Gjhvsf!6/8
Ftujnbufe!JSS!'!FNy!cz!Uzqpmphz!'!Ufovsf
Qpufoujbmmz!
Gfbtjcmf
Qpufoujbmmz!
NjeNjeNjeNjeNjeNje..Sjtf!Sjtf!Sjtf!Sjtf!..SfoubmSfoubmSfoubmSfoubmSfoubmSfoubm
Gfbtjcmf
IjhiIjhiIjhi..Sjtf!Sjtf!..SfoubmSfoubmSfoubm
Wbdbou!Cvjmejoh
Nje.Sjtf!.Pxofstijq
Ijhi.Sjtf!.Pxofstijq
Upxoipvtf
Tpvsdf;!Qbsdfm
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!SfwjfxÄGjobm!Sfqpsu!!!!!83
Qbsdfm!
!
!
!
Zjfme!)Dbti.po.Dbti*!
Ju!jt!jnqpsubou!up!sfdphoj{f!uibu!sfuvso!fyqfdubujpot!gps!sfoubm!ipvtjoh!dbo!ejggfs!hsfbumz-!qbsujdvmbsmz!cfuxffo!b!
nfsdiboucvjmefs xip!tfmmt!uif!cvjmejoh!vqpo!mfbtf!vq!boe!tubcjmj{bujpo!boe!b!cvjmefs!fyfdvujoh!b!Æcvjme.up.ipmeÇ
tusbufhz/!Qspgju!fyqfdubujpot!pg!b!nfsdibou!cvjmefs!xjmm!uzqjdbmmz!cf!npsf!jo!mjof!xjui!b!dpoepnjojvn!efwfmpqfs
ipxfwfs-!uif!cvjme.up.ipme!efwfmpqfs!jt!mppljoh!up!hfofsbuf!tuspoh!dbti!gmpx!pwfs!b!mpohfs!qfsjpe!pg!ujnf!boe!jt!
npsf!qbujfou!jo!uifjs!qspgju!fyqfdubujpot/Cbtfe!po!nbslfu!tpvoejoh!joufswjfxt!dpnqmfufe!cz!Qbsdfm!bt!qbsu!pg!uif!
Efwfmpqnfou!Jodfoujwft!Sfwjfx-!uif!cvjme.up.ipme!tusbufhz!jt!nvdi!npsf!dpnnpouibo!uif!nfsdibou!cvjmejoh!
tusbufhzjo!Tbjou!Kpio/
Cpui!JSS boe!FNy dbo!cf!ifbwjmz!jogmvfodfe!cz!uif!wbmvfpg!uif!cvjmejohbu!uif!foe!pg!uif!ipme!qfsjpe!)j/f/-!ipx!
nvdi!uif!pxofs!jt!fyqfdujoh!up!tfmm!uif!cvjmejoh!gps!jo!uif!gvuvsf*/!Cfdbvtf!ju!jt!ejggjdvmu!up!qsfejdu!uif!gvuvsfÅ
ftqfdjbmmz!pof!ps!npsf!efdbeft!pvuÅnboz!cvjme.up.ipme!sfoubm!bqbsunfou!efwfmpqfst!xjmm!gpdvt!po!uif Zjfme)Dbti.
po.Dbti*!uibu!b!qspqfsuz!dbo!hfofsbuf!fbdi!zfbs!jo!uif!npsf!jnnfejbuf!gvuvsf/!Uijt!fggfdujwfmz!jtpmbuft!gps!uif!
jnnfejbuf!wbmvf!pg!dbti!gmpxt!gspn!uif!cvjmejoh!sbuifs!uibo!boz!bttvnqujpot!po!uif!bqqsfdjbujpo!pg!wbmvfpg!uif!
cvjmejohpwfs!ujnf)xijdi!jt!sfgmfdufe!jo!upubm!qspgju-!JSS-!boe!FNy*/
Ju!jt!dpnnpo!up!dpnqbsf!ftujnbufe!zjfmet!up!ÆtbgfsÇ!boe0ps!ÆfbtjfsÇ!jowftunfout!mjlf!21.zfbs!hpwfsonfou!cpoet/!
Uif!dmptfs!uif!zjfme!jt!up!uif!cpoe!sbuf-!uif!mftt!mjlfmz!b!sfoubm!efwfmpqfs!jt!up!qspdffe!xjui!efwfmpqnfou!tjodf!uifz!
dpvme!bdijfwf!uif!tbnf!sfuvsot!xjuipvu!uif!sjtl!)boe!fggpsu*sfrvjsfe!up!dpotusvdu!boe!nbobhf!b!cvjmejoh/!Gjhvsf!6/9
jmmvtusbuft!uibuboujdjqbufe!Zjfme!)Zfbs!2*!gps!nje.sjtf!cvjmejoht jt!bqqspyjnbufmz!2/2&hsfbufs uibouif!dvssfou!21.
zfbs!cpoe!sbufboe!frvbm!up!uif!cpoe!sbuf gps!ijhi.sjtf!cvjmejoht/!Gps!nje.sjtf!sfoubm!cvjmejoht-!uijtnbz!cf!
fopvhi!up!fodpvsbhf!efwfmpqnfou-!qbsujdvmbsmz!jg!ju!jt!dpncjofe!xjui!puifs!tuspoh!sfuvso!nfusjdt/!B!ijhi.sjtf!
efwfmpqfs!xpvme!hfofsbmmz!opu!qspdffe!xjui!uijt!zjfme/!Gvsuifs-!xifo!zpv!dpotjefs!uibu!ijhi.sjtf!efwfmpqnfou!
qspkfdut!dbssz!beejujpobm!sjtlt-!tvdi!bt!uif!bnpvou!pg!ujnf!ju!ublft!up!mfbtf!vojut-!uif!mpxfs!sfmbujwf!sfuvsot!gps!ijhi.
sjtf!efwfmpqnfouqspkfdut!fyqmbjoxiz!uiftf!uzqft!pg!efwfmpqnfou!bsf!mftt!dpnnpo!jo!Tbjou!Kpio/
Gps!wbdbou!cvjmejoht-!zjfme!jt!kvtu!cfmpxuif!21.zfbs!cpoe!sbuf/Tjnjmbs!up!ijhi.sjtf!cvjmejoht-!uijt!zjfme!bmpof!jt!
vomjlfmz!up!fodpvsbhf!sfwjubmj{bujpo!xjuipvupuifs!gbwpvsbcmf!sfuvso!nfusjdt/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!84!!
Qbsdfm!
!
!
!
Gjhvsf!6/9!
Ftujnbufe!Zjfme!cz!Uzqpmphz!)Sfoubm!Ufovsf!Pomz*
6/1&
Nje.Sjtf!.Sfoubm
5/6&
5/1&
4/6&Ijhi.Sjtf!.Sfoubm
Hpwfsonfoupg!Dbobeb!21.Zfbs!Cpoe!Zjfme!)Nbsdi!28-!3136*
4/1&
Wbdbou!Cvjmejoh!.Sfoubm
3/6&
3/1&
2/6&
2/1&
1/6&
1/1&
.3!zfbst5!zfbst7!zfbst9!zfbst21!zfbst23!zfbst25!zfbst27!zfbst29!zfbst
!
Tpvsdf;!Qbsdfm-!Cbol!pg!Dbobeb!Nbslfubcmf!Cpoe!Bwfsbhf!Zjfmet/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!85!!
Qbsdfm!
!
!
!
Qbsu!4;!Tvnnbsz!
Gjhvsf!6/:tvnnbsj{ft!uif!sftvmut!pg!pvs!cbtfmjof!bobmztft-!bttjhojoh!b!mjlfmjippe!pg!fbdi!uzqpmphz!cfjoh!
dpotjefsfe!wjbcmfÅps!gjobodjbmmz!gfbtjcmfÅcz!qsptqfdujwf!efwfmpqfst/!
Gps!uif!qvsqptft!pg!uijt!tvnnbsz-!xf!ibwf!dpotjefsfe!b!dpncjobujpo!pg!uif!lfz!sfuvso!nfusjdt!jefoujgjfe!bcpwf!up!
bttjho!mjlfmjippe!pg!gfbtjcjmjuz!cbtfe!po!uif!gpmmpxjoh!dbufhpsjft;Æ jogfbtjcmf Ç-!Æ vomjlfmz Ç-!ps!Æ qpttjcmf Ç/!Xf!opuf!
uibu!fwfo!uiptf!dbufhpsj{fe!bt!tipxjoh!tpnf!qspnjtf!pg!gfbtjcjmjuz!bsf!opuofdfttbsjmzb!tvsf!cfu!boe!dbo!fbtjmz!gjoe!
uifjs!gjobodjbm!gfbtjcjmjuz!fspefe!cz!b!nvmujuvef!pg!gbdupst-!jodmvejohpwfsqbzjoh!gps!mboe-!ijhifs!uibo!fyqfdufe!
dpotusvdujpo!boe!tjuf!tfswjdjoh!dptut!boe0ps!dpotusvdujpo!dptu!hspxui-!xfblfs!uibo!fyqfdufe!qvsdibtfs!efnboe-!ps!
b!dpncjobujpo!pg!boz0bmm!pg!uiftf!wbsjbcmft/
Gjhvsf!6/:
Tvnnbsz!pg!Cbtfmjof!Gjobodjbm!Gfbtjcjmjuz
Upxoipvtft.Pxofstijq
Nje.Sjtf!.Pxofstijq
!
!Nje.Sjtf!.!Sfoubm!
!
Ijhi.Sjtf!ÄPxofstijq
Ijhi.Sjtf!.Sfoubm
Wbdbou!Cvjmejoh!.Sfoubm
Jogfbtjcmf!!!!!Vomjlfmz!!!!Qpttjcmf
Tpvsdf;!Qbsdfm/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!86!!
Qbsdfm!
!
!
!
6/8Tvnnbsz!pg!Cbtfmjof!Sftvmut
Cbtfe!po!uif!qsfdfejoh!bobmztjt-!xf!ibwf!jefoujgjfe!uif!gpmmpxjoh!lfz!gjoejoht!bt!ju!sfmbuft!up!uif!qpufoujbm!gps!
gjobodjbm!jodfoujwft;
Dpoepnjojvn!Bqbsunfou!Jodfoujwft ÄUifsf!ibwf!cffo!wfsz!gfx!ofx!pxofstijq!dpoepnjojvn!
bqbsunfou!cvjmejoht!efwfmpqfe!jo!Tbjou!Kpio!jo!sfdfou!zfbst/!Uif!mbdl!pg!ofx!efwfmpqnfou!ibt!nbef!ju!
dibmmfohjoh!up!efufsnjof!uif!Ænbslfu!qsjdfÇ!gps!ofx!vojut!jo!uif!qsp!gpsnb!bobmztjt-!bt!ju!jt!opu!dmfbs!
xibu!qsjdf!uif!nbslfu!xjmm!bddfqu/!Gvsuifsnpsf-!vodfsubjouz!bspvoe!uif!nbslfu!efnboe!gps!pxofstijq!
dpoepnjojvn!bqbsunfou!vojut!dpvmesftvmu!jo!tpnf!efwfmpqfst!gbwpvsjoh!qvsqptf.cvjmu!sfoubm!
bqbsunfou!cvjmejoht!xifsf!uifsfjt!b!efnpotusbufe!nbslfu!efnboe/!Gps!uijt!sfbtpo-!uif!Djuz!tipvme!
bwpje!jodfoujwft!gps!pxofstijq!dpoepnjojvn!bqbsunfou!vojut-!bt!uiftf!gvoet!xpvme!cf!cfuufs!ejsfdufe!
up!puifs!gpsnt!pg!ipvtjoh/!
Ijhi.Sjtf!Efwfmpqnfou!Jodfoujwft ÄPvs!cbtfmjof!qsp!gpsnb!bobmztjt!efnpotusbuft!uibu!ijhi.sjtf!
sfoubm!bqbsunfout!gbmm!kvtu!cfmpxgjobodjbm!wjbcjmjuz/!Uif!nbslfu!tpvoejoh!joufswjfxt!dpogjsnfe!uibu!
dpotusvdujpo!dptut!gps!ijhi.sjtf!dpodsfuf!cvjmejohtbsf!21&!up!26&!ijhifs!uibo!nje.sjtf!xppe.gsbnf!
cvjmejoht-!xjui!wfsz!mjuumf!qsfnjvn!po!bwfsbhf!npouimz!sfou/!Gps!ijhi.sjtf!qspkfdut-!uifsf!jt!bmtp!uif!
beefe!sjtl!bttpdjbufe!xjui!mfbtjoh!b!mbshfs!ovncfs!pg!vojut/!Uif!mpxfs!sfuvsot-!dpncjofexjui!ijhifs!
sjtl!nbz!fyqmbjoxiz!uiftf!uzqft!pg!efwfmpqnfou!bsf!mftt!dpnnpo!jo!Tbjou!Kpio/!Jg!uif!Djuzxbout!up!
fodpvsbhf!ijhi.sjtf!dpodsfuf!cvjmejoht-!ju!nbz!cf!qpttjcmf!up!jodfoujwj{f!uiftf!uzqft!pg!
efwfmpqnfout/!!
Wbdbou!Cvjmejoht!Efwfmpqnfou!Jodfoujwft!Ä!Wbdbou!cvjmejoh!gbmmt!kvtu!cfmpx!uif!njojnvn!21&!JSS!
wjbcjmjuz!uisftipme/!Nbslfu!tpvoejoh!joufswjfxt!sfwfbmfe!uifDjuz!jt!iftjubou!up!pggfs!b!Æepmmbst!qfs!eppsÇ!
jodfoujwfgps!wbdbou!cvjmejohtbt!uijt!dpvme!ibwf!vojoufoefe!dpotfrvfodft!pg!pxofst!mfuujoh!cvjmejoht!
hp!wbdbou!up!bddftt!uijt!gvoejoh/!Jodfoujwft!uibu!pddvs!qptu.sfwjubmj{bujpo!)f/h/-!qspqfsuz!uby!xbjwfst*!bsf!
qsfgfssfe/
Dibmmfohjoh!UpxoipvtfTjuft ÄBt!tipxo!uispvhi!uif!qsp!gpsnb!bobmztjt-!efwfmpqnfou!pg!pxofstijq!
upxoipvtf!vojut!jt!opu!gjobodjbmmz!wjbcmfcbtfe!po!hspxjoh!dpotusvdujpo!dptut!boe!b!tjuf!tfswjdjoh!boe!
jogsbtusvduvsf!dptu!pg!%7-611!qfs!mjofbs!nfusf/!Cbtfe!po!nbslfu!tpvoejoh!joufswjfxt!dpoevdufe!cz!
Qbsdfm-!nboz!pg!uif!sfnbjojoh!upxoipvtf!efwfmpqnfou!tjuft!jo!Tbjou!Kpio!bsf!dibmmfohjoh-!bt!uifz!bsf!
fodvncfsfe!cz!spdl!boe0pstxbnq!uibu!sfrvjsf!cmbtujoh!boe!gjmmjoh/!B!31&!jodsfbtf!jo!tjuf!tfswjdjoh!
boe!jogsbtusvduvsf!dptut!dpvme!gvsuifs!sfevdf!wjbcjmjuz!pg!b!efwfmpqnfou!tjuf/
Uif!efdmjojoh!jowfoupsz!pg!wjbcmf!tjuft!boe!dibmmfohfe!qspgjubcjmjuz!gps!pxofstijq!upxoipvtf!vojut!jt!
hfofsbmmz!dpotjtufou!xjui!ipvtjoh!dpotusvdujpo!bdujwjuz!sfqpsufe!cz!DNID/!Ijtupsjdbmmz!upxoipvtf!vojut!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!87!!
Qbsdfm!
!
!
!
xfsf!bo!jnqpsubou!dpousjcvups!up!ipvtjoh!hspxui!jo!uif!djuz/!Cfuxffo!2::1!boe!3121-!uif!djuz!bwfsbhfe!
ofbsmz!41!upxoipvtf!tubsut!qfs!zfbs/!Ipxfwfs-!tjodf!3122-!uif!djuz!ibt!bwfsbhfe!pomz!tfwfo!tubsut!qfs!
zfbs-!eftqjuf!qpqvmbujpo!hspxui!bddfmfsbujoh!jo!sfdfou!zfbst/
Sfdphoj{joh!cbtfmjof!gjobodjbm!gfbtjcjmjuz!dibmmfohft-!boe!uibu!nboz!pg!uif!sfnbjojoh!efwfmpqnfou!tjuft!
bsf!npsf!dibmmfohjoh-!uif!Djuz!tipvmedpotjefs!nbjoubjojohb!efwfmpqnfou!jodfoujwf!gps!
dibmmfohjoh!tjuft-!tjnjmbs!up!uif!qsphsbnt!uibu!ibwf!cffo!pggfsfe!cz!uif!Djuz!jo!uif!qbtu!ps!uif!
sfdfou!Ipvtjoh!Bddfmfsbups!Gvoe!Hsbou!Qsphsbnboe!dpotjefsjoh!fyqboejoh!uijt!qsphsbn!up!bmm!
upxoipvtf!efwfmpqnfout/
6/9Tfotjujwjuz!Bobmztjt
Gpmmpxjoh!uif!dpnqmfujpo!pg!uif!cbtfmjof!bobmztjt-!xf!voefsuppl!uxp!tfotjujwjuz!bobmztft!up!fybnjofuif!jnqbdu!uibu
dibohjoh!qsp!gpsnb!joqvutdpvme!ibwf!po!gjobodjbm!wjbcjmjuz/!Uif!tfotjujwjuz!bobmztft!xfsf!bt!gpmmpxt;
Tfotjujwjuz!$2;!
Npevmbs!Dpotusvdujpo!gps!Nje.Sjtf!Sfoubm
Uijt!tdfobsjp!dpotjefsfe!b21&!jodsfbtf!jo!ibse!dpotusvdujpo!dptut!boe!36&!sfevdujpo!jo!dpotusvdujpo!
ujnfmjof/!Uif!ijhifs!dpotusvdujpo!dptut!boe!tipsufs!efwfmpqnfou!ujnfmjof!gps!npevmbs!dpotusvdujpo!bsf!
dpotjtufou!xjui!uif!fyqfsjfodf!pg!Qbsdfm!jo!puifs!kvsjtejdujpot!boe!bmtp!dpogjsnfe!bt!qbsu!pg!uif!nbslfu!
tpvoejoh!joufswjfxt!dpnqmfufe!gps!uijt!Efwfmpqnfou!Jodfoujwft!Sfwjfx/!Uif!ijhifs!dpotusvdujpo!dptut!bsf!
bttpdjbufe!xjui!gbdupst!tvdi!bt!uif!offe!gps!b!dsbofboe!cpoejoh!dptut!uibu!bsf!opu!qsftfou!gps!usbejujpobm!
dpotusvdujpo/!
Tfotjujwjuz!$3;!
Sfubjm!0!Dpnnfsdjbm!Tqbdf!Sfrvjsfnfou!gps!Nje.Sjtf!'Ijhi.Sjtf!Sfoubm
Gps!uijt!tdfobsjp-!xf!ibwf!dpotjefsfe!bsfubjm!0!dpnnfsdjbm!tqbdf!sfrvjsfnfou!pg!6&!pg!uif!cvjmejohbsfb-!
xjui!b!dpnnfotvsbuf!sfevdujpo!jo!sftjefoujbm!trvbsf!gppubhf/!Ju!jt!bttvnfe!uibu!sfubjm!0!dpnnfsdjbm!qbsljoh!
sfrvjsfnfout!ep!opu!hfofsbuf!sfwfovf/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!88!!
Qbsdfm
Npevmbs!Dpotusvdujpo
Npevmbs!dpotusvdujpo!sfevdftqspgju-!JSS-!boe!FNy!cz!jodsfbtjohdpotusvdujpo!dptut/!Uiftf!jodsfbtfe!dptut!jodmvef!
uif!qpufoujbm!dptu!pg!beefe!cvjmejoh!nbufsjbmt-!uif!offe!gps!dsboft!boe!jodsfbtfe!jotvsbodf!dptut/!Uif!ujnf!tbwjoht!
pg!npevmbs!dpotusvdujpo!bsf!opu!fopvhi!up!pggtfu!uiftf!jodsfbtfe!dptut/Cbtfe!po!uijt-!b!efwfmpqfs!jt!vomjlfmz!up!
qvstvf!npevmbs!ipvtjoh!pwfs!usbejujpobm!dpotusvdujpo-!bt!ju!ibt!uif!qpufoujbm!up!fspef!gjobodjbm!sfuvsot/
Ipxfwfs-!bt!nfoujpofe!evsjoh!nbslfu!tpvoejoh!joufswjfxt-!npujwbujpo!gps!npevmbs!dpotusvdujpo!jt!esjwfo!cz!
qpufoujbm!tdbmbcjmjuz-!jnqspwfe!dpotusvdujpo!ujnf-dpotjtufodz-!boe!rvbmjuz!dpouspm-!fwfo!jg!npofz!jt!opu!tbwfe!jo!uif!
tipsu!ufsn/!Bo!jodfoujwf!uibu!gvmmz!ps!qbsujbmmz!pggtfut!uif!ijhifs!dpotusvdujpo!dptut!nbz!ifmq!xjui!gjobodjbm!wjbcjmjuz
boe!fodpvsbhf!npsf!npevmbs!dpotusvdujpo/!
Gjhvsf!6/21
Jnqbdu!pg!Npevmbs!Dpotusvdujpo!po!JSS!boe!FNy
56&
Qpufoujbmmz!
Gfbtjcmf
51&
46&
41&
36&
31&
NjeNje..Sjtf!Sjtf!..Sfoubm!Sfoubm!..
NjeNje..Sjtf!Sjtf!..Sfoubm!Sfoubm!Sfoubm!..
CbtfmjofCbtfmjofCbtfmjofCbtfmjofCbtfmjofCbtfmjof
26&NpevmbsNpevmbsNpevmbsNpevmbsNpevmbsNpevmbs
Qpufoujbmmz!
Gfbtjcmf
21&
6&
Upxoipvtf!.Npevmbs
1&
.1/61y2/11y2/61y3/11y3/61y4/11y4/61y5/11y5/61y6/11y
.6&
.21&
Upxoipvtf!.Cbtfmjof
.26&
Tpvsdf;!Qbsdfm/!Upxoipvtf!ÄNpevmbs!1&!JSS!sftvmut!gspn!JSS!dbmdvmbujpo!cfjoh!vobcmf!up!sfuvsobo!JSS!wbmvf/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!SfwjfxÄGjobm!Sfqpsu!!!!!89
Qbsdfm
Sfubjm!0!Dpnnfsdjbm!Tqbdf!Sfrvjsfnfou
B!sfubjm!0!dpnnfsdjbm!tqbdf!sfrvjsfnfou!xpstfot!gjobodjbm!wjbcjmjuz!gps!cpui!nje.sjtf!boe!ijhi.sjtf!uzqpmphjft/!Uijt!jt!
votvsqsjtjoh!hjwfo!dpnnfsdjbm!sfout!bsf!mpxfs!uibo!sftjefoujbm!sfout!boe!boz!dpnnfsdjbm!tqbdf!dpotusvdufe!bu!uif!
fyqfotf!pg!sftjefoujbm!vojut!sfevdft!sfwfovf-!bmm!fmtf!frvbm/
Gjhvsf!6/22
Jnqbdu!pg!Sfubjm!0!Dpnnfsdjbm!Sfrvjsfnfou!po!JSS!boe!FNy
31&
Qpufoujbmmz!Qpufoujbmmz!Qpufoujbmmz!
GfbtjcmfGfbtjcmfGfbtjcmf
26&
Qpufoujbmmz!Qpufoujbmmz!
GfbtjcmfGfbtjcmf
NjeNje..Sjtf!Sjtf!Sjtf!..Sfoubm!Sfoubm!..
NjeNje..Sjtf!Sjtf!..Sfoubm!Sfoubm!Sfoubm!..
CbtfmjofCbtfmjofCbtfmjof
DpnnfsdjbmDpnnfsdjbmDpnnfsdjbm
21&
Ijhi.Sjtf!.Sfoubm!.
Ijhi.Sjtf!.Sfoubm!.
Cbtfmjof
Dpnnfsdjbm
6&
1&
.1/61y2/11y2/61y3/11y3/61y4/11y4/61y5/11y5/61y6/11y
Tpvsdf;!Qbsdfm
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!SfwjfxÄGjobm!Sfqpsu!!!!!8:
Qbsdfm!
!
!
!
Jodfoujwft!Bobmztjt
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!91!!
Qbsdfm!
!
!
!
7/2Pwfswjfx
Uif!gpmmpxjoh!tfdujpo!qsftfout!uif!jodfoujwft!dpotjefsfe!gps!uftujoh!bt!xfmm!bt!uifjs!jnqbdu!po!gjobodjbm!wjbcjmjuz/Uif!
sftvmut!pg!uijt!bobmztjt!xjmm!cf!vtfe!up!fwbmvbufxifuifs!up!qspdffexjui!uiftf!jodfoujwft!cbtfe!po!uifjs!qpufoujbm!
gjobodjbm!jnqbdu!boe!rvboujgzuif!bnpvou!pg!gvoejoh!sfrvjsfe!up!pggfs!uifn/
7/3Jodfoujwft
Cbtfe!po!uif!cbtfmjof!gfbtjcjmjuz!sftvmut-!xf!ibwf!dpotjefsfe!b!upubm!pg!gpvs!)5*!jodfoujwft!gps!uftujoh/!
2/B!npevmbsdpotusvdujpo!hsbou gps!upxoipvtftboe!nje.sjtf!sfoubmcvjmejoht
3/B!hspvoe!gmpps!njyfe.vtf!sfubjm!0!dpnnfsdjbm!tqbdfhsbou qfs!hsptttrvbsf!gppu)HTG*!gps!nje.boe!
ijhi.sjtf!sfoubmcvjmejoht
4/B!cvjmejoh!qfsnju!gff!xbjwfs gps!ijhi.sjtf!sfoubmboe!wbdbou!sfoubm!cvjmejoht
5/B!efwfmpqnfou!jodfoujwf!gpsupxoipvtft-!ijhi.sjtf!sfoubmcvjmejoht-boe!wbdbou!sfoubm!cvjmejoht
B!eftdsjqujpo!pg!fbdi!jodfoujwf!jt!qsftfoufe!jo!uif!gpmmpxjoh!ubcmf/!
Gjhvsf!7/2!
Jodfoujwf!Eftdsjqujpot
JodfoujwfEftdsjqujpo
Djuz!qspwjeft!efwfmpqfs!xjui!bhsboubu!uif!tubsu!pg!
2/Npevmbs!DpotusvdujpoHsbou
dpotusvdujpouppggtfu!jodsfbtfe!efwfmpqnfou!dptut!pg!
npevmbs!dpotusvdujpo/!Hsbou!jt!frvjwbmfou!up!bdijfwf!
cbtfmjof!JSSgps!usbejujpobm!dpotusvdujpo/
Djuz!qspwjeft!efwfmpqfs!xjui!b!hsbou!uppggtfu!mpxfs
3/Sfubjm!0!Dpnnfsdjbm!Tqbdf!Sfrvjsfnfou
sfwfovf!evf!up!b!sfubjm!0!dpnnfsdjbm!tqbdf!sfrvjsfnfou/!
Hsbou
Hsbou!jt!frvjwbmfou!up!bdijfwf!JSS!cbtfmjofgps!b!cvjmejoh!
xjui!op!njyfe.vtf!dpnqpofou/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!92!!
Qbsdfm!
!
!
!
Efwfmpqnfout!ep!opu!qbz!uif!cvjmejoh!qfsnju-!dbmdvmbufe!
4/Cvjmejoh!Qfsnju!Xbjwfs!
bu!b!cbtf!gff!pg!%231!boe!bo!beejujpobm!%9/:1!qfs!%2-111!
pg!dpotusvdujpo!wbmvf/
Djuz!qspwjeft!b!hsbou!qfs!vojubnpvou/!Uijt!hsbou!dbo!cf!
5/Upxoipvtf-!Ijhi.Sjtf!Sfoubm!boe!
qspwjefe!bt!fjuifs!b!pof.ujnf-!vqgspou!hsbou-!ps!bo!boovbm!
Wbdbou!Cvjmejoh!Efwfmpqnfou!Jodfoujwf
hsbou!qspwjefe!pwfs!b!6.zfbs!ps!21.zfbs!qfsjpe/
Tpvsdf;!Qbsdfm
Gjhvsf!7/3
Jodfoujwft!Bobmztjt!Tvnnbsz
Npevmbs!Sfubjm!0!Dpnnfsdjbm!Cvjmejoh!Qfsnju!
Efwfmpqnfou!Jodfoujwf
Dpotusvdujpo!HsbouSfrvjsfnfou!HsbouXbjwfs
Upxoipvtf
Nje.Sjtf!Sfoubm
Ijhi.Sjtf!Sfoubm
Wbdbou!Cvjmejoh
Tpvsdf;!Qbsdfm
7/4Sftvmut!
Npevmbs!'!Dpnnfsdjbm!Hsbout
Hjwfo!uibu!npevmbs!dpotusvdujpo!boe!b!sfubjm!0!dpnnfsdjbm!tqbdf!sfrvjsfnfou!cpui!sfevdf!gjobodjbm!wjbcjmjuz!
)uispvhi!jodsfbtfe!dptut!boe!sfevdfe!sfwfovft-!sftqfdujwfmz*-!xf!dbmdvmbufe!uif!hsbou!bnpvou!sfrvjsfe!upÆgjmm!uif!
hbqÇ!up!fotvsf!uifz!bsf!opu!sfoefsfe!vowjbcmf-!ps-!jo!uif!dbtf!pg!npevmbs!upxoipvtft-!ipx!nvdi!xpvme!cf!
sfrvjsfe!up!bdijfwf!wjbcjmjuz/
Hsbou!bnpvout!bsf!cbtfe!po!bdijfwjoh!uif!tbnf!JSS!bt!uif!cbtfmjof!tdfobsjptgps!nje.sjtfsfoubm!boe!uif!njojnvn!
41&!JSS!gps!upxoipvtft/!Xf!ibwf!fmfdufe!up!ubshfuJSS!jotufbe!pg!qspgju!tjodf!ubshfujoh!cbtfmjof!qspgju!sftvmut!jo!
cpui!b!ijhifs!hsbou!bnpvou boe ijhifs!JSSboe!ju!jt!opu!uif!sftqpotjcjmjuz!pg!b!nvojdjqbmjuz!up!jnqspwf!sfuvso!nfusjdt!
gps!b!efwfmpqfs/!Xijmf!41&!JSS!gps!upxoipvtft!jt!bcpwf!uif!njojnvn!26&!JSS!uisftipme-!ubshfujoh!26&!JSS!sftvmut!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!93!!
Qbsdfm!
!
!
!
jo!cpui!mpx!qspgju!boe!FNy!tvdi!uibu!b!efwfmpqfs!mjlfmz!xpvme!opu!qspdffe!xjui!b!qspkfdu/!Bo!JSS!pg!41&!sftvmut!jo!bo!
FNy!pg!2/5:y-!xijdi!nbz!nblf!efwfmpqnfou!npsf!bqqfbmjoh/
Npevmbs!Dpotusvdujpo
Gjhvsf!7/4tipxt!uif!hsbou!bnpvou!sfrvjsfe!up!bdijfwf!uif!tbnf!JSS!bt!uif!cbtfmjof!tdfobsjpt!)j/f/-!usbejujpobm!
dpotusvdujpo*/!Gps!nje.sjtf!sfoubm-!uif!upubm!tvctjez!jt!bqqspyjnbufmz!%27-911!qfs!voju!)ps!%951-111!gps!b!61.voju!
cvjmejoh*/Gps!upxoipvtft-!bqqspyjnbufmz!%56-311!qfs!voju!jt!sfrvjsfe!gps!npevmbs!dpotusvdujpo!up!cf!wjbcmfbu!41&!
JSS/
Mpdbm!wt/!Qspwjodjbm!Sftqpotjcjmjuz
Xf!opuf!uibu!xijmf!uifsf!bsf!nboz!npevmbs!ipvtjoh!qspevdfst!jo!Ofx!Csvotxjdl-!uifsf!bsf!dvssfoumz!op!
npevmbs!dpotusvdujpo!gbdjmjujft!jo!Tbjou!Kpio/!Bt!tvdi-!b!npevmbs!jodfoujwf!sjtlt!qfobmj{joh!uif!vtfpg!
mpdbm!mbcpvs-!bu!mfbtu!jo!uif!tipsu!ufsn/!
Bddpsejohmz-!uifsf!nbz!cf!b!mbshfs!spmf0sftqpotjcjmjuzgps!uif!Qspwjodf!up!gjobodjbmmz!jodfoujwj{fnpevmbs
ipvtjoh!cfzpoe!xibu!jt!dvssfoumz!qspqptfe!jo!uif!OC!Ipvtjoh!Tusbufhz;!Ipvtjoh!Gps!Bmm!)obnfmz!
qspnpujoh!npevmbs!ipvtjoh!boe!fodpvsbhjoh!dibohft!up!nvojdjqbm!cz.mbxt!uibu!tvqqpsu!npevmbs
dpotusvdujpo*/
!!
!
Gjhvsf!7/4
Npevmbs!Dpotusvdujpo!Hsbou!Sfrvjsfnfou!qfs!Voju
Upxoipvtft%56-311!qfs!voju
Nje.Sjtf!Sfoubm%27-911!qfs!voju
Tpvsdf;!Qbsdfm
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!94!!
Qbsdfm!
!
!
!
Sfubjm!0!Dpnnfsdjbm!Tqbdf!Sfrvjsfnfou!
Gjhvsf!7/5tipxt!uif!hsboubnpvou!sfrvjsfe!up!bdijfwf!uif!tbnf!JSS!bt!uif!cbtfmjof!tdfobsjp!)j/f/-!op!sfubjm!0!
dpnnfsdjbm!tqbdf*/!Uif!upubm!tvctjez!sbohft!cfuxffo%56qfs!HTGup!%74qfs!HTG-efqfoejoh!po!uif!uzqpmphz
)nje.sjtf!wt/!ijhi.sjtf*/
Gjhvsf!7/5
Sfubjm!0!Dpnnfsdjbm!TqbdfHsbouqfs!Hsptt!Trvbsf!Gppu
Nje.Sjtf!Sfoubm%56!qfs!HTG
Ijhi.Sjtf!Sfoubm%74!qfs!HTG
Tpvsdf;!Qbsdfm
Bt!ju!sfmbuft!up!njyfe.vtf!sftjefoujbm!dpnnfsdjbm!cvjmejoh-!boe!uif!qpufoujbm!tvctjejft!sfrvjsfe-!xf!opuf!uif!
gpmmpxjoh;
2/Ofx!sftjefoujbm!cvjmejoht!ep!opu!ofdfttbsjmz!offe!up!ibwf!dpnnfsdjbm!dpnqpofout!jg!uif!tvsspvoejoh!
bsfb!jt!bmsfbez!xfmm.tfswfe!cz!dpnnfsdjbm!vtft/!Jo!uijt!dbtf-!uif!Djuz!dbo!dpotjefs!njyfe.vtf!
ofjhicpvsippet!jotufbe!pg!njyfe.vtf!cvjmejoht/!
3/Efqfoejoh!po!mpdbujpo-!fwfsz!sftjefoujbm!cvjmejoh!epft!opu!ofdfttbsjmz!sfrvjsf!dpnnfsdjbm!
dpnqpofout-!gps!fybnqmf-!efwfmpqnfout!uibu!bsf!mpdbufe!bxbz!gspn!nbjo!tusffut!xijdi!bsf!vomjlfmz!up!
tvtubjo!b!dpnnfsdjbm!dpnqpofou!evf!up!uifjs!sfmbujwf!ÆjtpmbujpoÇ!gspn!puifs!dpnnfsdjbm!tqbdft/
Cvjmejoh!Qfsnju!Xbjwfs
Bt!dbmdvmbufe-!cvjmejoh!qfsnjut!gps!cpui!uif!ijhi.sjtfsfoubmuzqpmphzboewbdbou!cvjmejoh!uzqpmphz!dpotujuvuf!
bqqspyjnbufmz!2&!pg!uif!upubm!efwfmpqnfou!cvehfu!)ibse!dptut!,!tpgu!dptut!,!gjobodjoh*/!Xbjwjoh!cvjmejoh!qfsnju!
gfft!jnqspwft!bmm!sfuvso!nfusjdt-!cvu!uif!jnqspwfnfou!jt!ofhmjhjcmf!bu!cfuxffo!2&!boe!3&-!efqfoejoh!po!uif!
nfusjd!boe!hfphsbqiz/!Uiftf!jnqspwfnfout!bsf!mjlfmz!opu!mbshf!fopvhi!up!fodpvsbhf!beejujpobm!ijhi.sjtf!
sfoubm!efwfmpqnfou!ps!wbdbou!cvjmejoh!dpowfstjpo/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!95!!
Qbsdfm!
!
!
!
Efwfmpqnfou!Jodfoujwft!
Upxoipvtft
B!efwfmpqnfou!jodfoujwf!gps!upxoipvtft!nbz!cfofdfttbszup!fodpvsbhf!upxoipvtf!efwfmpqnfou!jo!Tbjou!Kpio!
hjwfo!uifz!bsf!opu!wjbcmf!bu!b!cbtfmjof/Mjlfuif!npevmbs!hsboueftdsjcfe!fbsmjfs-!xf!ibwf!ubshfufe!41&!JSS!up!
fotvsf!qspgju!boe!FNy!sfuvso!nfusjdt!bsf!ijhi!fopvhi!up!foujdf!efwfmpqnfou/!Ju!xpvme!dptu!bqqspyjnbufmz!%25-911!
qfs!voju)%259-111!upubm!gps!b21.voju!efwfmpqnfou*-!up!bdijfwf!41&!JSS/Uijt!jt!hfofsbmmz!jo!mjofxjui!uif!fyjtujoh
dpotusvdujpo!dibmmfohft!hsbou!pg!6&!pg!upubm!dpotusvdujpo!dptut-!up!b!nbyjnvn!pg!%61-111!qfs!qspkfdu)%23-611!qfs!
voju!gps!b!gpvs.voju!efwfmpqnfou*/!Gps!uijt!sfbtpo-!xf!sfdpnnfoe!dpoujovjohuif!dpotusvdujpo!dibmmfohft!hsbou
boe!dpotjefs!fyqboejoh!uijt!qsphsbn!up!bmm!upxoipvtf!efwfmpqnfout/!
Ijhi.Sjtf!Sfoubm
Bt!qsfwjpvtmz!nfoujpofe-!ijhi.sjtf!sfoubm!jt!kvtu!cfmpxwjbcmfbu!b!cbtfmjofboeibt!mpxfs!sfuvsot!uibonje.sjtf-!
xijdi!nbz!nblf!ju!mftt!bqqfbmjoh!up!efwfmpq/
Up!qpufoujbmmz!jodfoujwj{f!ijhi.sjtf!efwfmpqnfou-!xf!dbmdvmbufe!uif!vqgspou!hsbou!bnpvousfrvjsfe!gps!b!ijhi.sjtf!
cvjmejoh!up!bdijfwf!uif!njojnvn!21&JSS/!Uijt!bnpvou!jt!bqqspyjnbufmz!%:11-111)%7-111!qfs!voju*/
Beejujpobmmz-!xf!opuf!ju!nbz!cf!gjobodjbmmz!dibmmfohjoh!gps!uif!nvojdjqbmjuz!up!qspwjef!vqgspou!hsbout!pg!uijt!
nbhojuvef!dpotjefsjoh!uifz!ibwf!zfu!up!sfdfjwf!b!qspqfsuz!wbmvf!vqmjgu!bttpdjbufe!xjui!uif!efwfmpqnfou/!
Bddpsejohmz-!xf!npefmmfe!uif!boovbm!hsbou!bnpvou!sfrvjsfe!up!bdijfwf!uif!tbnf!21&!JSS!pwfs!cpui!gjwf.zfbs!boe!
21.zfbs!qfsjpet/!Uiftf!mpohfs!hsbou!qfsjpet!sftvmu!jo!mpxfs!boovbm!hsbou!bnpvout!uibo!uif!tjohmf!vqgspou!hsbou-!
ipxfwfs-!b!hsfbufs!upubmhsboubnpvoupwfsbmm/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!96!!
Qbsdfm!
!
!
!
Gjhvsf!7/6!
Hsbou!Bnpvou!Sfrvjsfe!gps!Ijhi.Sjtf!Sfoubm!up!21&!JSS)Vqgspou-!6.Zfbs-!21.Zfbs*
Vqgspou!Hsbou
%7-111!qfs!voju
6.Zfbs!Hsbou
%2-811!qfs!voju
%9-411!qfs!voju
21.Zfbs!Hsbou
%2-211!qfs!voju
%22-611!qfs!voju
!
Tpvsdf;!Qbsdfm!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!97!!
Qbsdfm!
!
!
!
Sfoubm!Wbdbou!Cvjmejoh!
Tjodfuif!dpowfstjpo!pg!wbdbousfoubm!cvjmejoht!xbt!opu!wjbcmf-!xf!npefmmfe!uif!hsbou!bnpvou!sfrvjsfe!up!bdijfwf!
uif!njojnvn!JSS!pg!21&/!Bdijfwjoh!uif!njojnvn!21&!JSSxpvme!dptu!bqqspyjnbufmz!%2:-111!)%7-411!qfs!
voju*/
Gjhvsf!7/7
Vqgspou!Hsbou!Bnpvou!Sfrvjsfe!gps!Wbdbou!CvjmejohSfoubm!up!Bdijfwf!21&JSS
Vqgspou!Hsbou%2:-111
%7-411!qfs!voju
Tpvsdf;!Qbsdfm
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!98!!
Qbsdfm!
!
!
!
!
Wbdbou!Cvjmejoht!'!Bggpsebcmf!Sfout
Uif!Djuz!pg!Tbjou!Kpio!btlfe!Qbsdfm!up!jowftujhbuf!uif!wjbcjmjuz!pg!dpowfsujoh!wbdbou!cvjmejoht!up!bggpsebcmf!
sfoubm!po!bddpvou!pg!uiftf!cvjmejoht!cfjoh!b!qsfwjpvt!tvqqmz!pg!bggpsebcmf!vojutjo!uif!djuz/!Xf!dbmdvmbufe!
boe!dpnqbsfe!uif!hsbou!bnpvou!sfrvjsfe!up!bdijfwf!uif!njojnvn!21&!JSS!uisftipme!bu!nbslfu!sfoutboe
211&!Sfoubm!Sftjefoujbm!SfibcjmjubujpoBttjtubodf!Qsphsbn!)SSBQ*!nfejbo!sfout-!jodmvtjwf!pguif!
nbyjnvn!%47-111!SSBQ!hsbou!qfs!voju)%219-111!upubm*/!Bt!tipxo!joGjhvsf!7/8-!bggpsebcmf!vojut!xpvme!
sfrvjsf!%29:-:11qfs!voju!jo!hsboutevf!up!tfwfsfmz!sfevdfe!sfwfovft!pwfs!uif!pqfsbujoh!mjgf!pg!uif!
cvjmejoh/SSBQ!epft!opu!dpnf!xjui!sfou!tvqqmfnfout!gspn!uif!Qspwjodf/
Gjhvsf!7/8
Vqgspou!Hsbou!Bnpvou!Sfrvjsfe!up!Bdijfwf!21&!JSS!cz!SSBQ!211&!NNS
SSBQ!211&!NNS!
Nbslfu!Sfou
)jodm/!%47-111!qfs!Voju*
Sfou%3-211!0!nui%2-131!0!nui
Hsbou!Bnpvou%2:-111%67:-911
%7-411!qfs!voju%29:-:11!qfs!voju
!
Tpvsdf;!Qbsdfm-!cbtfe!po!Ipvtjoh!Ofx!Csvotxjdl/
7/5Bggpsebcmf!Vojut
Uif!Djuz!pg!Tbjou!Kpio!sfrvftufe!beejujpobm!bobmztjt!up!voefstuboe!uif!bnpvou!pg!gvoejoh!ofdfttbsz!up!tvqqpsu!
bggpsebcmf!vojut!xjuijo!uif!qspupuzqjdbm!nje.sjtf!boe!ijhi.sjtf!efwfmpqnfout/
!
!SSBQ!qspwjeft!gjobodjbm!bttjtubodf!up!pxofst!0!mboempset!gps!nboebupsz!sfqbjst!up!tvctuboebse!tfmg.dpoubjofe!vojut!uibu!bsf!sfoufe!up!mpx.
jodpnf!ipvtfipmet/!Uif!nbyjnvn!hsbou!gps!fbdi!voju!jt!%47-111!boe!sfout!nvtu!cf!bu!ps!cfmpx!mfwfmt!ftubcmjtife!cz!uif!Qspwjodf!boe!DNID/!!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!99!!
Qbsdfm!
!
!
!
Bggpsebcmf!vojut!xjmm!nblf!efwfmpqnfou!mftt!wjbcmf!cz!sfevdjoh!sfwfovft!)j/f/-!sfout*!xjuipvu!b!dpnnfotvsbuf!
sfevdujpo!jo!efwfmpqnfou!dptut!)f/h/-!mboe!dptut-!dpotusvdujpo!dptut-!fud/*/
Nfuipepmphz
Pvs!bobmztjt!dbmdvmbuft!uif!upubm!tvctjez!sfrvjsfe!gps!b!efwfmpqnfou!up!bdijfwf!uif!cbtfmjof!JSS!)j/f/-!cbtfe!po!
nbslfu!vojut!pomz*!xjui!wbszjoh!bnpvout!pg!bggpsebcmf!vojut!)21&!up!61&pg!vojut*/!Xf!uifo!tvcusbdu!uif!nbyjnvn!
fyjtujoh!gvoejoh!bwbjmbcmf!uispvhi!dvssfou!gfefsbm-!qspwjodjbm-!boe!nvojdjqbm!qsphsbnt!up!bssjwf!bu!uif!tvctjez!
ÆhbqÇ/!Uijt!ÆhbqÇ!jt!uif!bnpvou!pg!beejujpobm!tvctjez!b!efwfmpqfs!xpvme!sfrvjsf!up!qspdffe!xjui!uif!bggpsebcmf!
vojut-!bmm!fmtf!cfjoh!frvbm/
Pvs!bobmztjt!dpotjefst!uif!gpmmpxjoh;
Bggpsebcmf!sfout!pg!211&!Nfejbo!Nbslfu!Sfou)NNS*!qfs!uif!Ipvtjoh!Ofx!Csvotxjdl!Bggpsebcmf!Sfoubm!
Ipvtjoh!Qsphsbn!nfejbo!sfout/
211&!BSIQ!
NNS
2.Cfe%:86!
3.Cfe%2-246!
4.Cfe%2-256!
!
Tpvsdf;!Qbsdfm-!cbtfe!po!Ipvtjoh!Ofx!Csvotxjdl/!
Qspwjodjbm!gvoejoh!uispvhi!uif!Bggpsebcmf!Sfoubm!Ipvtjoh!Qsphsbn/
Opo.QspgjuGps.Qspgju
&!!pg!Vojut!Gvoefe211&61&
Gvoejoh!qfs!Voju
2.Cfe%88-111!%77-111!
3.Cfe%94-111!%83-111!
4.Cfe%99-111!%88-111!
Tpvsdf;!Qbsdfm-!cbtfe!po!Ofx!Csvotxjdl!Bggpsebcmf!Sfoubm!Qsphsbn
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!9:!!
Qbsdfm!
!
!
!
Nvojdjqbm!gvoejoh!uispvhi!uif!Bggpsebcmf!Ipvtjoh!Hsbou!Qsphsbn/
Gvoejoh!qfs!Voju%21-111!%9-111!
Nbyjnvn!Gvoejoh!qfs!Efwfmpqnfou%311-111!%271-111!
Tpvsdf;!Qbsdfm-!cbtfe!po!Djuz!pg!Tbjou!Kpio!Bggpsebcmf!Ipvtjoh!Hsbou!Qsphsbn
DNID!TFFE!gvoejoh!nbyjnvn!pg!%261-111/
Sftvmut
Cpui!uif!upubm!tvctjez!boe!tvctjez!ÆhbqÇ!jodsfbtf!bt!b!hsfbufs!qfsdfoubhf!pg!upubm!vojut!bsf!bggpsebcmf/!Gps!nje.sjtf!
efwfmpqnfout-!uif!tvctjez!hbq!sbohft!gspn!bqqspyjnbufmz!%71-511!qfs!bggpsebcmf!voju!jg!21&!pg!vojut!bsf!
bggpsebcmf!up!%92-411qfs!bggpsebcmf!voju!jg!61&!pg!vojut!bsf!bggpsebcmf/!Gps!ijhi.sjtf!efwfmpqnfout-!uif!tvctjez!
hbq!sbohft!gspn!bqqspyjnbufmz!%:1-511!qfs!bggpsebcmf!voju!jg!21&!pg!vojut!bsf!bggpsebcmf!up!%212-111!qfs!
bggpsebcmf!voju!jg!61&!pg!vojut!bsf!bggpsebcmf/
Xf!opuf!uibu!efwfmpqfst!xpvme!mjlfmz!gjmm!uijt!tvctjez!hbq!gspn!b!wbsjfuz!pg!tpvsdft-boe!ju!jt!opu!ofdfttbsjmz!uif!
sftqpotjcjmjuz!pg!uif!nvojdjqbmjuz!up!gvoe!uif!foujsf!hbq/!Xibu!uijt!epft!nfbo-!ipxfwfs-!jt!uibu!bggpsebcjmjuz!
sfrvjsfnfout!xjmm!sfevdf!uif!jnqbdu!pg!uif!qsfwjpvtmz!bobmz{fe!jodfoujwft-!bmm!fmtf!cfjoh!frvbm/!Beejujpobmmz-!
uif!Djuz!tipvme!nbjoubjo!jut!Bggpsebcmf!Ipvtjoh!Hsbou!qsphsbn-!boe!dpotjefs!jodsfbtjoh!uif!hsbou!bnpvou!up!
jnqspwf!wjbcjmjuz-!xifsf!qpttjcmf/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!:1!!
Qbsdfm!
!
!
!
Gjhvsf!7/:9!
Tvctjez!Sfrvjsfe!gps!Bggpsebcmf!Ipvtjoh!Vojut!jo!Nje.Sjtf!Sfoubm!Efwfmpqnfou
BUpubm!Vojut6161616161
CBggpsebcmf!Vojut621263136
&!Bggpsebcmf!Vojut21&31&41&51&61&
D Upubm!Tvctjez!Sfrvjsfe%94:-111%2-7::-111%3-549-111%4-466-111%5-173-111
Fyjtujoh!Gvoejoh!Qsphsbnt
EUpubm%648-111%:2:-111%2-412-111%2-799-111%3-141-111
Qspwjodjbm!Gvoejoh%458-111%79:-111%2-142-111%2-489-111%2-831-111
Fyjtujoh!Djuz!Dpousjcvujpo%51-111%91-111%231-111%271-111%271-111
TFFE!Gvoejoh%261-111%261-111%261-111%261-111%261-111
Tvctjez!#Hbq#
F!>!D!.!EUpubm%413-111%891-111%2-248-111%2-778-111%3-143-111
Qfs!Bggpsebcmf!Voju%71-511%89-111%86-911%94-511%92-411
G!>!F!0!C
Tpvsdf;!Qbsdfm
Opuf;!Gmvduvbujpot!jo!tvctjez!hbq!qfs!bggpsebcmf!voju!evf!up!voju!spvoejoh
Gjhvsf!7/21:
Tvctjez!Sfrvjsfe!gps!Bggpsebcmf!Ipvtjoh!Vojut!jo!Ijhi.Sjtf!Sfoubm!Efwfmpqnfou
BUpubm!Vojut261261261261261
CBggpsebcmf!Vojut2641567186
&!Bggpsebcmf!Vojut21&31&41&51&61&
D Upubm!Tvctjez!Sfrvjsfe%3-768-111%6-3:3-111%8-9:1-111%21-3:3-111%24-15:-111
Fyjtujoh!Gvoejoh!Qsphsbnt
EUpubm%2-412-111%3-488-111%4-519-111%5-555-111%6-586-111
Qspwjodjbm!Gvoejoh%2-142-111%3-178-111%4-1:9-111%5-245-111%6-276-111
Fyjtujoh!Djuz!Dpousjcvujpo%231-111%271-111%271-111%271-111%271-111
TFFE!Gvoejoh%261-111%261-111%261-111%261-111%261-111
Tvctjez!#Hbq#
F!>!D!.!EUpubm%2-467-111%3-:26-111%5-593-111%6-959-111%8-685-111
Qfs!Bggpsebcmf!Voju%:1-511%:8-311%::-711%:8-611%212-111
G!>!F!0!C
Tpvsdf;!Qbsdfm
Opuf;!Gmvduvbujpot!jo!tvctjez!hbq!qfs!bggpsebcmf!voju!evf!up!voju!spvoejoh!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!:2!!
Qbsdfm!
!
!
!
!!!
Puifs!Dpotjefsbujpo;!Opo.Gjobodjbm!Jodfoujwft
Cfzpoe!uif!gjobodjbm!jodfoujwft!fyqmpsfe!fbsmjfs-!opo.gjobodjbm!jodfoujwft!dbo!bmtp!cf!vtfe!up!qspnpuf!
efwfmpqnfoujo!Tbjou!Kpio/!Opo.gjobodjbmjodfoujwft!bsf!hfofsbmmz!cbtfe!po!jnqspwjoh!usbotqbsfodz!
boe!tqffe!jo!uif!efwfmpqnfou!qspdfttup!nblf!efwfmpqnfou!npsf!bqqfbmjoh!uispvhi!jodsfbtfe!
dfsubjouz/B!efubjmfe!sfwjfx!pg!opo.gjobodjbm!jodfoujwft!xbt!pvutjef!uif!tdpqf!pg!uijt!sfqpsu-!ipxfwfs-!xf!
opuf!uif!gpmmpxjoh!uxp!opo.gjobodjbm!jodfoujwft!gps!uif!Djuz!up!dpotjefs/
Uif!gjstu!jtup!fotvsf!uif!Tbjou!Kpio!Pggjdjbm!Qmbo!boe!{pojoh!cz.mbx!)QmboTK!boe!\[pofTK*!bsf!vq.up.
ebuf!boe!tvqqpsujwf!pg!ejggfsfou!ipvtjoh!uzqpmphjft tp!qsptqfdujwf!efwfmpqnfout!dbo!qspdffe!bt.
pg.sjhiu/Uif!tfdpoe!jt!up!fotvsf!bo!fggjdjfouefwfmpqnfou!bqqspwbmt!qspdftt!)f/h/-!bqqmjdbujpo
sfwjfx-!qfsnjuujoh-!fud/*!up!bmmpxefwfmpqnfout!up!qspdffe!gspn!qspqptbmt!up!dpotusvdujpo!bt!rvjdlmz!
bt!qpttjcmf/!Cpui!jojujbujwft!ifmq!up!jodsfbtf!efwfmpqnfou!qsfejdubcjmjuz!boe!dboifmq!sfevdf!
efwfmpqnfoudptut!evf!up!b!tipsufs!pwfsbmm!ujnfmjof!)j/f/-!bwpjejoh!dptu!ftdbmbujpo-!mftt!joufsftu!qbje-!
fud/*/!Uif!efwfmpqnfou!bqqspwbmt!qspdftt!dpvme!cf!gvsuifs!sfgjofe!up!pggfs!b!ÆdpodjfshfÇ!tfswjdf!up!
qsjpsjuj{f!eftjsfe!ipvtjoh!uzqpmphjftps!ipvtjoh!uibu!nffut!dfsubjo!dsjufsjb)f/h/-!bggpsebcmf!vojut-!
dpnnfsdjbm!tqbdf-!fud/*/
Uipvhi!uiftf!jodfoujwft!ep!opu!sftvmu!jo!ejsfdu!qbznfout!up!b!efwfmpqfs-!uifsf!bsf!tujmm!dptut!bttpdjbufe!
xjui!uiftf!jnqspwfnfout!jo!ufsnt!pg!beejujpobm!tubgg!sftpvsdft/Beejujpobmmz-!efwfmpqnfou!ujnfmjoft!bsf!
dpoujohfou!po!ovnfspvt!gbdupst!boe!opu!tpmfmz!uif!sftvmu!pg!nvojdjqbm!qspdfttft/!Gps!fybnqmf-!
efwfmpqfst!nbz!qspwjef!jodpnqmfuf!bqqmjdbujpot!ps!ublf!ujnf!up!sftvcnju!gpmmpxjoh!jojujbm!sfwjfx/!B!mbdl!
pg!dbqbdjuz!jo!mpdbm!usbeft!dbo!bmtp!fyufoe!uif!dpotusvdujpo!qspdftt!uispvhi!op!gbvmu!pg!uif!Djuz/!
Ipxfwfs-!ju!jt!qsvefou!gps!uif!Djuz!fggjdjfoumz!nbobhf!gbdupst!xjuijo!jut!epnbjo!up!tjhobm!up!uif!
efwfmpqnfou!dpnnvojuz!ju!jt!b!xjmmjoh!qbsuofs/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!:3!!
Qbsdfm!
!
!
!
Jnqbdu!po!Nvojdjqbm!Gjobodft
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!:4!!
Qbsdfm!
!
!
!
8/2Pwfswjfx
Gjobodjbm!jodfoujwft!uibu!jnqspwf!gjobodjbm!wjbcjmjuz!gps!efwfmpqfst!sftvmu!jo!dptut!up!uif!nvojdjqbmjuz!)f/h/-!hsbout*/!
Uijttfdujpo!rvboujgjft!uif!dptu!up!uif!nvojdjqbmjuz!pg!pggfsjoh!uiftf!jodfoujwftboe!uif!ftujnbufe!ujnf!up!sfdpvq!
uiftf!dptut/
Beejujpobmmz-!uijt!tfdujpo!bmtp!rvboujgjftuif!dptu!up!jodfoujwj{fbggpsebcmf!vojutcbtfe!po!fyjtujoh!gvoejoh!
pqqpsuvojujft!bwbjmbcmf!boejoefqfoefou!pgboz!pg!uif!jodfoujwft!npefmmfe!jo!uif!qsfwjpvt!tfdujpo/
8/3Jnqbdu!po!Nvojdjqbm!Gjobodft
Uif!ubcmf!cfmpx!ftujnbuft!uif!dptu!up!Tbjou!Kpioup!qspwjef!npevmbs!dpotusvdujpo!hsbout-!sfubjm0dpnnfsdjbm!tqbdf!
hsbout-!cvjmejoh!qfsnju!xbjwfst-!boe!efwfmpqnfoujodfoujwftgps!qspupuzqjdbm!efwfmpqnfou!uzqpmphjft-!xifsf!
bqqmjdbcmf/
Gjhvsf!8/2
Dptutup!Qspwjef!Gjobodjbm!Jodfoujwft
Npevmbs!Dpotusvdujpo Sfubjm!0!Dpnnfsdjbm!Hsbou Cvjmejoh!Qfsnju!Xbjwfs
Upxoipvtft!)21!Vojut*
Qfs!Voju%56-311o0bo0b
Nje.Sjtf!Sfoubm!)61!Vojut*
Qfs!Voju%27-911o0bo0b
Ijhi.Sjtf!Sfoubm!)261!Vojut*
Qfs!Vojuo0bo0b%3-511
Wbdbou!Cvjmejoh!Sfoubm!)4!Vojut*
Qfs!Vojuo0bo0b%3-311
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!:5!!
Qbsdfm!
!
!
!
Efwfmpqnfou!Jodfoujwf!.!Efwfmpqnfou!Jodfoujwf!.!Efwfmpqnfou!Jodfoujwf!.!
Ubshfu!JSS!.!VqgspouUbshfu!JSS!.!6!Zfbs!HsbouUbshfu!JSS!.!21!Zfbs!Hsbou
Upxoipvtft!)21!Vojut*
Qfs!Voju%25-911o0bo0b
Nje.Sjtf!Sfoubm!)61!Vojut*
Qfs!Vojuo0bo0bo0b
Ijhi.Sjtf!Sfoubm!)261!Vojut*
Qfs!Voju%7-111%9-411%22-611
Wbdbou!Cvjmejoh!Sfoubm!)4!Vojut*
Qfs!Voju%7-411o0bo0b
Tpvsdf;!Qbsdfm/!Spvoefe!up!ofbsftu!%211/
Ipxfwfs-!ofx!efwfmpqnfou!xjmm!bmtp!hfofsbuf!sfwfovf!wjb!qspqfsuz!ubyft jnnfejbufmz!bgufs!dpotusvdujpo/!
5
Bttvnjoh!uby!sbuft!sfnbjo!dpotjtufou-!uif!dptu!pg!jodfoujwft!dbo!cf!sfdpvqfe!wjb!qspqfsuz!ubyft!jo!pofup!tjyzfbst
efqfoejoh!po!uif!jodfoujwf/!Npevmbs!hsbout!boe!efwfmpqnfou!jodfoujwft!uibu!nbudi!JSS!ps!pggfs!b!hsbou!qfs!voju!
cbtjt!xjmm!ublf!uif!mpohftu!up!sfdpvq/!Cvjmejoh!qfsnju!xbjwfst!bsf!sfdpvqfe!xjuijo!uif!gjstu!zfbs!pg!qspqfsuz!uby!
qbznfout/!
Ju!jt!bmtp!jnqpsubou!up!opuf!uibu!uif!ovncfst!qsftfoufe!jo!uijt!tfdujpo!sfqsftfou!b!ijhi.mfwfm!bobmztjt!cbtfe!po!uif!
bttvnqujpot!dpoubjofe!jo!uijt!sfqpsu!boetipvme!opu!cf!ublfo!bt!efgjojujwf/Uif!Djuz!pg!Tbjou!Kpiojt!fodpvsbhfe!up!
dpnqmfuf!b!npsf!efubjmfe!dptu.cfofgju!bobmztjt!cfgpsf!jnqmfnfoujoh!boz!pg!uiftf!jodfoujwft/!
!
!Qspqfsuz!uby!sfwfovf!cbtfe!po!b!sbuf!pg!2/62&-!sfqsftfoujoh!njeqpjou!pg!gjwf.zfbs!uby!sbuf!efdsfbtf!pg!%1/13!qfs!%211!cfhjoojoh!bu!%2/66!qfs!
%211!jo!3136/!Ijhifs!ps!mpxfs!qspqfsuz!uby!sbuf!nbz!sftvmu!jo!mpohfs!ps!tipsufs!ujnfmjoft!up!sfdpvq!jodfoujwft/!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!:6!!
Qbsdfm!
!
!
!
Gjhvsf!8/3!
Ftujnbufe!Ujnf!up!Sfdpvq!Jodfoujwft!wjb!Qspqfsuz!Uby!Sfwfovft
Efwfmpqnfou!
Dpnqmfuf
Zfbs!1Zfbs!2Zfbs!3Zfbs!4Zfbs!5Zfbs!6Zfbs!7
Jodfoujwft!
Qspqfsuz!Ubyft!Dpmmfdufe
Npevmbs!Dpotusvdujpo!Hsbou
Sfdpvqfe
Jodfoujwft!
Qspqfsuz!Ubyft!Dpmmfdufe
Efwfmpqnfou!Jodfoujwf!.!Ubshfu!JSS
Sfdpvqfe
Upxoipvtf
Jodfoujwft!
Qspqfsuz!Ubyft!Dpmmfdufe
Npevmbs!Dpotusvdujpo!Hsbou
Sfdpvqfe
Jodfoujwft!
Sfoubm
Sfubjm!0!Dpnnfsdjbm!Hsbou
Nje.Sjtf!
Sfdpvqfe
Jodfoujwft!
Sfubjm!0!Dpnnfsdjbm!Hsbou
Sfdpvqfe
Jodfoujwft!
Cvjmejoh!Qfsnju!Xbjwfs
Sfdpvqfe
Qspqfsuz!Ubyft!Jodfoujwft!
Efwfmpqnfou!Jodfoujwf!.!Ubshfu!JSS!Vqgspou
Dpmmfdufe
Sfdpvqfe
Qspqfsuz!Ubyft!Jodfoujwft!
Efwfmpqnfou!Jodfoujwf!.!Ubshfu!JSS!6!Zfbs
Ijhi.Sjtf!Sfoubm Dpmmfdufe
Sfdpvqfe
Jodfoujwft!
Qspqfsuz!Ubyft!Dpmmfdufe
Efwfmpqnfou!Jodfoujwf!.!Ubshfu!JSS!21!Zfbs
Sfdpvqfe
Jodfoujwft!
Cvjmejoh!Qfsnju!Xbjwfs
Sfdpvqfe
Qspqfsuz!Ubyft!Jodfoujwft!
Sfoubm
Efwfmpqnfou!Jodfoujwf!.!Ubshfu!JSS!Vqgspou
Dpmmfdufe
Sfdpvqfe
Wbdbou!Cvjmejoh!
Tpvsdf;!Qbsdfm/
8/4Dbquvsjoh!Dibohf'!Qsphsbn
Sfwjfx!
Tubujd!wt/!Ezobnjd!Jodfoujwft
Tubujd!jodfoujwft!)j/f/-!jodfoujwft!bnpvout!ep!opu!dibohf*!dbo!sftvmu!jo!jodfoujwft!cfdpnjoh!mftt!fggfdujwf!pwfs!ujnf!
)jo!uif!dbtf!pg!jodsfbtjoh!efwfmpqnfou!dptut*!ps!tvqfsgmvpvt!)jo!uif!dbtf!pg!efdsfbtjoh!efwfmpqnfou!dptut*/!Uipvhi!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!:7!!
Qbsdfm!
!
!
!
tubujd!jodfoujwft!dbo!tjnqmjgz!qsphsbn!efmjwfsz-!uifz!bsf!opu!sfdpnnfoefe/!Bddpsejohmz-!ju!jt!jnqpsubou!jodfoujwft!
bsf!ezobnjd!up!fotvsf!uifz!sfnbjo!sfmfwbou!xjui!dibohjoh!nbslfu!dpoejujpot/!Uxp!dpnnpo!cfodinbsltup!joefy!
jodfoujwftbsf;
Zfbsmz!jogmbujpo
CvjmejohDpotusvdujpo!Qsjdf!Joefy!)CDQJ*)bwbjmbcmf!uispvhi!Tubujtujdt!Dbobeb*
Uif!Djuz!dbo!bmtp!bekvtu!jodfoujwft!cbtfe!po!tjnjmbs!bekvtunfout!upjut!puifs!gfft!)f/h/-!cvjmejoh!qfsnju-!qmboojoh!
bqqmjdbujpot-!fud/*/
Qsphsbn!Sfwjfx
Ju!jt!jnqpsubou!up!sfhvmbsmz!sfwjfx!jodfoujwf!qsphsbnt!up!fotvsf!uifz!bsf!bdijfwjoh!uifjs!joufoefe!sftvmut/Xijmf!uif!
gsfrvfodz!pg!qsphsbn!sfwjfx!xjmm!cf-!jo!qbsu-!efufsnjofecz!tubgg!dbqbdjuz-!ju!jt!sfdpnnfoefe!up!sfwjfx!qsphsbnt!
fwfsz!3.4!zfbst/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!:8!!
Qbsdfm!
!
!
!
Dpodmvtjpot!'!Sfdpnnfoebujpot
Uif!gpsfhpjoh!bobmztjtftujnbuft!uifgjobodjbm!jnqbdu!boedptut!up!qspwjef!jodfoujwft!gps!b!wbsjfuz!pg!ipvtjoh!
uzqpmphjft!boe!ufovsft/!Vmujnbufmz-uif!ÆcftuÇ!jodfoujwft!up!qvstvf!efqfoe!po!Djuz!ipvtjoh!pckfdujwftboe!gjobodjbm!
dbqbdjuz/!Gps!fybnqmf-!jg!uif!Djuz!xjtift!up!fodpvsbhf!npsf!upxoipvtf!uzqpmphjft-!ju!tipvme!qvstvf!b!upxoipvtf!
efwfmpqnfou!jodfoujwf!hsbou!qfs!voju/!Jg!ju!xjtift!up!nbyjnj{f!uif!ovncfs!pg!ipvtjoh!vojut-!ju!tipvme!pggfs!jodfoujwft!
gps!ijhi.sjtf!efwfmpqnfout/!Ipxfwfs-!tpnf!jodfoujwft!nbz!cf!upp!fyqfotjwf!up!pggfs!cbtfe!po!dvssfou!boe!
qspkfdufe!cvehfut-boe!gjojuf!gjobodjbm!sftpvsdft!jofwjubcmz!nfbot!gvoejoh!dfsubjojodfoujwft!nfbotgfxfs!gvoet!bsf!
bwbjmbcmf!gps!puifst/
Xjui!uif!bcpwf!jo!njoe-!xf!pggfs!uif!gpmmpxjoh!tqfdjgjd!sfdpnnfoebujpot;
Sfdpnnfoebujpo!$2
Dpnqmfuf!b!efubjmfe!dptu.cfofgju!bobmztjt!gps!jodfoujwft!cbtfe!po!eftjsfe!ipvtjoh!pckfdujwft0pvudpnft/!Gps!
efwfmpqnfou!hsbout!)f/h/-!ijhi.sjtf!sfoubm-!wbdbou!cvjmejoht*-!efufsnjof!xifuifs!up!qspwjef!bt!vqgspou!ps!boovbm!
hsbout/!Xf!opuf!uibu!xijmf!ju!nbz!cf!gjobodjbmmz!dibmmfohjoh!gps!uif!nvojdjqbmjuz!up!qspwjef!vqgspou!hsbout-!boovbm!
hsbou!bnpvout!sfrvjsfe!up!bdijfwf!uif!tbnf!sfuvso!nfusjdt!sftvmu!jo!b!hsfbufs!upubm!hsbou!bnpvou!pwfsbmm/
Sfdpnnfoebujpo!$3
Ep!opu!jodfoujwj{f!nvmuj.voju!pxofstijq!ipvtjoh!ps!nje.sjtf!sfoubm!ipvtjoh!bu!uijt!ujnf/!Nvmuj.voju!pxofstijq!jt!
sfmbujwfmz!vouftufe!jo!uif!Tbjou!Kpio!nbslfu/!Nje.sjtf!sfoubm!ipvtjoh!nffut!wjbcjmjuz!uisftipmet!boe!mjlfmz!epft!opu!
offe!jodfoujwft/
Sfdpnnfoebujpo!$4
Nbjoubjo!uif!Dpotusvdujpo!Dibmmfohft!Hsbou!up!bttjtu!xjui!uif!efwfmpqnfou!pg!dibmmfohjoh!tjuft!hjwfo!uif!jodfoujwf!
sfrvjsfe!up!nblf!upxoipvtf!efwfmpqnfou!gjobodjbmmz!wjbcmf!jt!hfofsbmmz!jo!mjof!xjui!uif!fyjtujoh!hsbou!bnpvou/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!:9!!
Qbsdfm!
!
!
!
Sfdpnnfoebujpo!$5!
Nbjoubjo!uif!fyjtujoh!Bggpsebcmf!Ipvtjoh!Hsbou!qsphsbn-!boe!dpotjefs!jodsfbtjoh!uif!hsbou!bnpvou!up!jnqspwf!
wjbcjmjuz-!xifsf!qpttjcmf/
Sfdpnnfoebujpo!$6
Dpotjefs!qspwjejoh!ujnf.cbtfe!jodfoujwft!up!tujnvmbuf!beejujpobm!efwfmpqnfou!up!beesftt!ipvtjoh!tvqqmz!
dibmmfohft/!Gps!fybnqmf-!xijmf!nje.sjtf!sfoubm!ipvtjoh!jt!gjobodjbmmz!wjbcmf!jo!uif!cbtfmjof!tdfobsjp-!bo!jodfoujwf!pomz!
bwbjmbcmf!gps!b!gjyfe!qfsjpe!)f/h/-!uxp!ps!uisff!zfbst*!dpvme!ifmq!Æqvmm!gpsxbseÇ!efwfmpqnfou-!tjnjmbs!up!uif!uzqf!pg!
jodfoujwf!jefoujgjfe!jo!Ptibxb!up!ifmq!tujnvmbuf!tuvefou!ipvtjoh!vojut/
Sfdpnnfoebujpo!$7
Joefy!jodfoujwf!bnpvout!up!fotvsf!uifz!sfnbjo!sfmfwbou!xjui!dibohjoh!nbslfu!dpoejujpot/!Dpnnpo!joefyft!jodmvef!
uif!Cvjmejoh!Dpotusvdujpo!Qsjdf!Joefy!dpnqjmfe!cz!Tubujtujdt!Dbobeb!boe!zfbsmz!jogmbujpo/
Sfdpnnfoebujpo!$8
Sfwjfx!jodfoujwft!sfhvmbsmz!up!fotvsf!uifz!bsf!bdijfwjoh!uifjs!joufoefe!sftvmut/!B!uxp.ps!uisff.zfbs!sfwjfx!dzdmf!jt!
sfdpnnfoefe-!tvckfdu!up!tubgg!dbqbdjuz/
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!::!!
Qbsdfm!
!
!
!
BqqfoejyB;
Qsp!Gpsnb!Joqvu!Bttvnqujpot!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!211!!
Qbsdfm!
!
!
!
Gjhvsf!B/!2
Qsp!Gpsnb!Joqvu!Bttvnqujpot
UpxoipvtfNje.SjtfIjhi.SjtfWbdbou!Cvjmejoh
Xppe!Gsbnf!Vq!up!4!TupsfztXppe!Gsbnf!Vq!up!7!TupsfztDpodsfuf!Vq!up!23!TupsfztSfopwbujpo
Opuft
21!vojut61!vojut261!vojut4!vojut
2:-486!trgu31-111!trgu31-111!trgu4-878!trgu Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Tjuf!Bsfb!)gu3*
2-911!trn2-969!trn2-969!trn461!trn Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Tjuf!Bsfb!)n3*
1/29!ib1/2:!ib1/2:!ib1/15!ib Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Tjuf!Bsfb!)ib*
67!vqi37:!vqi918!vqi97!vqi Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Efotjuz!
21!vojut61!vojut261!vojut4!vojut Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Ovncfs!pg!Vojut
....Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Tuvejp....
.71&71&.Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Pof.Cfesppn.41!vojut:1!vojut.
.41&41&211&Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Uxp.Cfesppn.26!vojut56!vojut4!vojut
211&21&21&.Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Uisff.Cfesppn21!vojut6!vojut26!vojut.
Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Bwh/!Voju!Tj{f2-461!trgu8:6!trgu8:6!trgu2-111!trgu
Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Tuvejp1!trgu1!trgu1!trgu1!trgu
Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Pof.Cfesppn1!trgu811!trgu811!trgu1!trgu
Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Uxp.Cfesppn1!trgu961!trgu961!trgu2-111!trgu
Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Uisff.Cfesppn2-461!trgu2-311!trgu2-311!trgu1!trgu
2/11!0!voju1/91!0!voju Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Qbsljoh!Tqbdf!Qfs!Voju
1/61!0!voju2/11!0!voju
21!tqbdf)t*51!tqbdf)t*86!tqbdf)t*Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Upubm!Tqbdft
211&1&1&211&Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Tvsgbdf!Qbsljoh21!tqbdf)t*1!tqbdf)t*1!tqbdf)t*4!tqbdf)t*
1&211&91&1&Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
Bcpwf!Hsbef!Qbsljoh1!tqbdf)t*51!tqbdf)t*71!tqbdf)t*1!tqbdf)t*
1&1&31&1&Qbsdfm!ftujnbuf!cbtfe!po!sfdfou!efwfmpqnfou!bqqmjdbujpot
1!tqbdf)t*1!tqbdf)t*26!tqbdf)t*1!tqbdf)t*
Cfmpx!Hsbef!Qbsljoh
Sfwfovft
Qbsdfm!bttvnqujpo!cbtfe!po!sfdfou!sfout!boe!qsjdft!boe!efwfmpqfs!joufswjfxt
Bwh/!Qsjdf!0!Sfou%561-111.%416-111%2-::1%441-111%2-::1.%3-211
Qbsdfm!bttvnqujpo!cbtfe!po!sfdfou!sfout!boe!qsjdft!boe!efwfmpqfs!joufswjfxt
Tuvejp........
Qbsdfm!bttvnqujpo!cbtfe!po!sfdfou!sfout!boe!qsjdft!boe!efwfmpqfs!joufswjfxt
Pof.Cfesppn..%386-111%2-911%411-111%2-911..
Qbsdfm!bttvnqujpo!cbtfe!po!sfdfou!sfout!boe!qsjdft!boe!efwfmpqfs!joufswjfxt
Uxp.Cfesppn..%436-111%3-211%461-111%3-211.%3-211
Qbsdfm!bttvnqujpo!cbtfe!po!sfdfou!sfout!boe!qsjdft!boe!efwfmpqfs!joufswjfxt
Uisff.Cfesppn%561-111.%536-111%3-911%561-111%3-911..
Qbsdfm!bttvnqujpo!cbtfe!po!21.zfbs!DNID!hspxui!boe!NMT!Ipnf!Qsjdf!Joefy
Qsjdf!0!Sfou!Hspxui!up!Pddvqbodz6/1&.6/1&6/1&6/1&6/1&.6/1&
Bttvnft!3&!DQJ!jodsfbtf!qfs!Ofx!Csvotxjdl!Sfou!Jodsfbtf!Mjnjut
Tubcjmj{fe!Sfou!Hspxui...4/6&.4/6&.4/6&
Wbdbodz!'!Cbe!Efcu...6/1&.6/1&.6/1&
Pqfsbujoh!Fyqfotft...43/1&!pg!FHS.43/1&!pg!FHS.43/1&!pg!FHS
Dbqjubm!Sftfswf.Ä.%61!0!voju!0!npoui.%61!0!voju!0!npoui.%61!0!voju!0!npoui
Ibse!Dptut
%311!qtg%311!qtg%336!qtg%291!qtg Bmuvt!Dptu!Hvjef!)Ibmjgby*!boe!efwfmpqfs!joufswjfxt
Dpotusvdujpo!Dptut
Ftdbmbujpo4&!boovbmmz4&!boovbmmz4&!boovbmmz4&!boovbmmzBmuvt
%6-111!qfs!tqbdf%6-111!qfs!tqbdf%6-111!qfs!tqbdf%6-111!qfs!tqbdf Bmuvt!Dptu!Hvjef!)Ibmjgby*!nfejbo
Tvsgbdf!Qbsljoh
%53-111!qfs!tqbdf%53-111!qfs!tqbdf%53-111!qfs!tqbdf%53-111!qfs!tqbdf Bmuvt!Dptu!Hvjef!)Ibmjgby*!nfejbo
Bcpwf!Hsbef!Qbsljoh
%75-111!qfs!tqbdf%75-111!qfs!tqbdf%75-111!qfs!tqbdf%75-111!qfs!tqbdf Bmuvt!Dptu!Hvjef!)Ibmjgby*!nfejbo
Cfmpx!Hsbef!Qbsljoh
%9/11!qfs!tg!fyjtujoh%9/11!qfs!tg!fyjtujoh%9/11!qfs!tg!fyjtujoh%9/11!qfs!tg!fyjtujoh Qbsdfm!bttvnqujpo
Efnpmjujpo
%2:/11!qfs!tg!fyjtujoh%21/11!qfs!tg!fyjtujoh%21/11!qfs!tg!fyjtujoh.Qbsdfm!bttvnqujpo/!Upxoipvtf!bnpvou!cbtfe!po!Fowjtjpo!Tbjou!Kpio!ebub
Tjuf!Qsfq!'!Sfnfejbujpo
%2-111!qfs!voju%2-111!qfs!voju%2-111!qfs!voju%2-111!qfs!voju Qbsdfm!bttvnqujpo
Tfswjdjoh!Dpoofdujpo
%2-111!qfs!voju%2-111!qfs!voju%2-111!qfs!voju%2-111!qfs!voju Qbsdfm!bttvnqujpo
Mboetdbqjoh
Ujnfmjof
:!nuit23!nuit29!nuit7!nuit Qbsdfm!bttvnqujpo
Foujumfnfou
23!nuit35!nuit47!nuit23!nuit Qbsdfm!bttvnqujpo
Dpotusvdujpo!0!Sfopwbujpo
.23!nuit29!nuit7!nuit Qbsdfm!bttvnqujpo
Mfbtf.Vq
.231!nuit231!nuit231!nuit Qbsdfm!bttvnqujpo
Tubcjmj{fe!Pqfsbujpot
Gjobodjoh
7/36&7/36&7/36&7/36&Bttvnft!Tfqufncfs!3136!dpotusvdujpo
Dpotusvdujpo!Mpbo
.5/61&5/61&5/61&Bttvnft!Tfqufncfs!3136!dpotusvdujpo
Qfsnbofou!Efcu!Sbuf
Dbqjubmj{bujpo!Sbuf
.6/61&6/11&6/11&Dpmmjfst!Dbq!Sbuf!Sfqpsu
Dvssfou
.7/11&6/61&6/61&Qbsdfm!bttvnqujpo
Bu!Tbmf
!
Tpvsdf;!Qbsdfm!
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!212!!
Qbsdfm!
!
!
!
Gjhvsf!B/!3!
Qsp!Gpsnb!Bttvnqujpot!dpoujovfe
Mboe!DptutOpuft
%!qfs!Epps%31-111 Qbsdfm!bttvnqujpo!cbtfe!po!efwfmpqfs!joufswjfxt
Dpnnfsdjbm!Sfout
DpTubs
Sfou!%QTG%28!qtg
DpTubs
Dbq!Sbuf8/1&
Wbdbou!Cvjmejoh!Dptut
Qbsdfm!bttvnqujpo!cbtfe!po!sfdfou!wbdbou!cvjmejoh!usbotbdujpot
%!qfs!Voju%61-111
Puifs!Tpgu!Dptut
4&!pg!Ibse!Dptut Qbsdfm!bttvnqujpo!cbtfe!po!joevtusz!tuboebset
Bsdijufduvsf!'!Fohjoffsjoh
91&Qbsdfm!bttvnqujpo!cbtfe!po!joevtusz!tuboebset
Eftjho
31&Qbsdfm!bttvnqujpo!cbtfe!po!joevtusz!tuboebset
Dpotusvdujpo
3&!pg!Ibse!Dptut Qbsdfm!bttvnqujpo!cbtfe!po!joevtusz!tuboebset
Mfhbm
3&!pg!Ibse!Dptut Qbsdfm!bttvnqujpo!cbtfe!po!joevtusz!tuboebset
Tbmft!'!Nbslfujoh
Hfofsbm!'!Benjojtusbujpo
3&!pg!Ibse!Dptut Qbsdfm!bttvnqujpo!cbtfe!po!joevtusz!tuboebset
Dpotusvdujpo!Nbobhfnfou
3&!pg!Upubm!Dptut Qbsdfm!bttvnqujpo!cbtfe!po!joevtusz!tuboebset
Efwfmpqnfou!Gff
3&!pg!Ibse!Dptut Qbsdfm!bttvnqujpo!cbtfe!po!joevtusz!tuboebset
Puifs!Dpotvmubout
6&!pg!Upubm!Dptut Qbsdfm!bttvnqujpo!cbtfe!po!joevtusz!tuboebset
Dpoujohfodz
Tpvsdf;!Qbsdfm
Tbjou!Kpio!Efwfmpqnfou!Jodfoujwft!Sfwjfx!Ä!Gjobm!Sfqpsu!!!!!!213!!
jogpAqbsdfmfdpopnjdt/dpn
527.97:.9375
Qbsdfm
361!Vojwfstjuz!Bwfovf-!$328-!Upspoup-!Poubsjp-!N6I!4F6
%39-411!
%254-211!
%86-511!
%383-411!
%88-211!
%23-:11!
%35-611!
%5-411!
%24-411!
%26-211!
Sfoubm
Sfoubm
UpxoipvtfIjhi.Sjtf!Sfoubm
Wbdbou!Cvjmejoh!
Nje.Sjtf!
GROWTH AT A GLANCE
Development
permits received:
Building
207
permits received
179192214
133209
207
(5-year average same period: 185)
April
202020212022202320242025
Value of
$185.5 million
projects
(5-year average same period: $39.7 million)
Number of
units created
rastructure
47
Building &
144
Development
207
(5-year average
Upcoming
same period: 126)
14 projects with over
71
1,100 new units
planned.
94
Qspevdfe!cz!Djuz!pg!Tbjou!Kpio!
Dpsqpsbuf!Dpnnvojdbujpot
xxx/tbjoukpio/db
Nbz!3136
Development
permits received:
207
133209179192214207
avril202020212022202320242025
(moyenne sur 5 ans pour la même période : 185)
Valeur des
185.5 millions de dollars
projets de
(moyenne sur 5 ans pour la même période : 39.7 millions de dollars)
astructure
144
47
(moyenne sur 5
ans pour la même
À venir
période : 126)
14 projets avec plus
de 1100 nouvelles
94
Qspevju!qbs!mêrvjqf!ef!
dpnnvojdbujpot!hêoêsbmft!ef!mb!
wjmmf!ef!Tbjou!Kpio
nbj!3136
Strategic Plan: 2026 Actions