BRANDT TE1002F, TE1002W User Manual
2; 0+ /9
8L]Z!8WTPY_P&
^PY_T_LXPY_P!@L!]TYR]L'
eTLXZ!P!NT!NZYR]L_`WTLXZ
[P]!WL!^NPW_L!OL!@PT!QL__L(
E`P^_Z!Y`ZaZ![ ]ZOZ__Z&
LNN`]L_LXPY_P![]ZRP__L_Z
P!NZ^_]`T_Z!NZY!XL_P]TLWT!OT
[]TXT^^TXL!\`LWT_n&!s!^_L_Z
LNN`]L_LXPY_P!NZWWL`OL_Z
[P]![Z_P]!^ZOOT^QL]P!_`__P
WP!G`P!P^TRPYeP!OT!`YL
[P]QP__L!NZ__`]L(
@L![]PRSTLXZ![P]_LY_Z!OT
WPRRP]P!P!]T^[P__L]P!WP!QLNTWT
T^_]`eTZYT!NSP!@P![P]XP_'
_P]LYYZ!OT!]LRRT`YRP]P
PNNPWWPY_T!]T^`W_L_T!^TY!OLWWL
[]TXL!`_TWTeeLeTZYP(
8ZY!\`P^_Z!XZOP]YZ!L['
[L]PNNSTZ!@P!QZ]X`WTLXZ!T
YZ^_]T![T{!aTaT!L`R`]T(
23!,6:;9<;;69.
:QM^!Oa_`[YQ^'
KQ!`TMZW!e[a!MZP!O[Z(
S^M`aXM`Q!e[a![Z!e[a^
OT[UOQ)
HTU_!ZQc!OM^QRaXXe!PQ(
_USZQP!\^[PaO`'!YMZa(
RMO`a^QP!cU`T!`TQ!TUSTQ_`
]aMXU`e!YM`Q^UMX_'!TM_!NQQZ
OM^QRaXXe!`Q_`QP!`[!_M`U_Re
MXX!e[a^!O[[WUZS!PQYMZP_)
KQ!c[aXP!`TQ^QR[^Q!^Q]aQ_`
e[a!`[!^QMP!MZP!R[XX[c!`TQ_Q
QM_e!UZ_`^aO`U[Z_!cTUOT
cUXX!MXX[c!e[a!`[![N`MUZ!Qd(
OQXXQZ`!^Q_aX`_!^UST`!R^[Y
`TQ!_`M^`)
BMe!cQ!cU_T!e[a!MXX!`TQ
bQ^e!NQ_`!cU`T!e[a^!Y[PQ^Z
M\\XUMZOQ"
8-*!2&39+&(896*6
8Ss]P!NWTPY _P&!8SP]!NWTPY_&
XP]NT !P_!^TYNs] P^!QtWTNT'
_L_TZY^ ![Z` ]!WP!NSZ Tc!\` P
aZ`^!LaPe!QLT_(
8P!YZ`aPL`![]ZO` T_&
OtaPWZ[[t!LaPN!^ZTY!P_
QLM]T\`t!LaPN !OP^!XL_ Ts] P^
OP!_Z`_P![]PX Ts]P!\` LWT_t&
L!t_t!^Z TRY P`^PX PY_!]ZO t
[Z`]!^L_T^QLT]P!_Z`_P^ !JZ^
PcTRPYNP^!Oi`YP!N`T^^ZY
[L]QLT_P(
JP`TWWPe!WT]P!L__PY_TaPXPY_
WP^! TY^_]`N_TZY^! ^TX[WP^
[Z]_tP^!^`]!NP__P!YZ_TNP!\`T
aZ`^![P]XP__]ZY_! OiZM_P'
YT]!OiPcNPWWPY_^!]t^`W_L_^
Os^!WL![]PXTs]P!`_TWT^L_TZY(
BZ`^!aZ`^!^Z`SLT_ZY^!`YP
PY_Ts]P! P_![WPTYP!^ L_T^QLN'
_TZY! \`LY_!n! Wi`_TWT^L_TZY
OP!NP_!L[[L]PTW!XZOP]YP(
3.!,65:;9<,;.<9
2LCHBD
2QRPSWHMLH
N DP!JYSRDLRD
>Y^_LWWLeTZYP .
I^Z .'2
ALY `_PYeTZYP -*
2QRPSWHMLH!NDP
JYHLQR@JJ@RMPD
>Y^_LWWLeTZYP -.
8ZWWPRLXPY_Z!RL^ -0
8ZWWPRLXPY_Z
PWP__]TNZ .*
8L]L__P]T^_TNSP
`_TWT eeL _Z]T .,'./
6:+894! 574*499 4! F! 89'94 !
)4 3)+5/94 ! 5 +7! :3 ! /2 5/+-4! */!
9/54!*42+89/)4&!/1!)4897:9947+
*+)1/3 '! 4 -3/! 7+ 85438'(/1/9B!
3 +1! )'84! */! +;+39 :'1/! *'33/! '! )48+! 4 !
5+7843+!*+7/;'39 /!*'!:3'!34 3!)477+ 99'!
/3 89'11'> /43+! 4 ! *'! :84 ! /25 7457/4$!
+ 7743+ 4!4 *!'88: 7* 4&
1?'5 5 '7+)) . /4 ! 3 43 ! * +;+ !
+88 +7+ ! : 8'94! * '! 5 +78 43 + !
")42 5 7+8 /! ('2(/3 /#! )4 3 !
7/* 499+ ! )'5')/9 B! ,/8/). +$ !
8 +384 7/'1 /! 4! 2+ 39' 1/$! 4! * '! 5 +78 43 + !
). +! 2'3 ) '3 4!*+ 11 ?+85+7/ +3 >'!+!*+ 11 + !
)4 3 48 )+3 >+! 3+)+88 '7/+ !8 +! 3 43! 84 994!
1 '! 8 :5+7;/8 /43+ ! 4 ! */ +9 74! / 897: >/43/ !
8 :11?:84! * +1 1?' 55'7+)) . /4 ! * '! 5'79 + !
* /! :3 '! 5 + 784 3'! 7+8 543 8'( /1 +! 5+7! 1 '!
1 4 74! 8/): 7+ >>'& ! /! ('2( /3 /! * +;43 4!
+ 88+ 7+! )4 39 74 11 '9/! 5 + 7! ' 88/) : 7'78/ !
). +! 34 3! -/4 ). /34!)4 3 !1?'5 5'7+ )) ./4 &
.KABU
.KPQOR@QFLKP
CLO!RPB
?Z_`MXXM`U[Z /
I_Q /(3
B MUZ`QZMZOQ .+
.KPQOR@QFLKP
CLO!QEB!FKPQ>II>QBO
?Z_`MXXM`U[Z ./
=M_!O[ZZQO`U[Z .1
; XQO`^UOMX!O[ZZQO`U[Z
/+
I_Q^!OTM^MO`Q^U_`UO_
/-(/0
8-.7! &5 51.&3 (*! .7! ( 43 (*.:* )!
+4 6! )42 *78 .( ! 97* ! 43 1= %! 8-*!
2& 39+&( 8 96*6! 7-& 11! 34 8! .3!
&3 =! ;&=! ' *! - *1 )! 6*75 43 7.' 1*!
+4 6!;- &8*: *6 !.3 /96 .*7! 46!) &2& ,*7 !&6*!
(&9 7*) ! ' =! .3 (466* (8 ! .3 78& 11&8. 43 ! 46!
' =! 937 9.8&' 1* $!; 6 43 ,!4 6!&' 79 6)!9 7*%
8-.7! &551.&3(*! .7! 348!
.38*3)*)! +46! 97*! '=!
5*67437! ".3(19).3,!!
(-.1)6*3#! ;.8-! 6*)9(*)!
5-=7.(&1$! 7*3746=! 46! 2*38&1!
(&5&'.1.8.*7$! 46! 1&(0! 4+!
*<5*6.*3(*! &3)! 034;1*),*$!
931*77! 8-*=! -&:*! '**3! ,.:*3!
795*6:.7.43! 46! .37869(8.43!
(43(*63.3,!97*!4+!8-*!&551.&3(*!
'=! &! 5*6743! 6*75437.'1*! +46!
8-*.6!7&+*8=%!(-.1)6*3!7-491)!'*!
795*6:.7*)! 84!*3796*! 8-&8!8-*=!
)4!348!51&=!;.8-!8-*!&551.&3(*%
2LCDU
5MRHBD
CYDKNJMH
>Y^_LWWL_TZY .
AZOP!OiPX[WZT .'2
:Y_]P_TPY -*
4MC@JHRjQ
CYHLQ R@JJ@RHML
>Y^_LWWL_TZY -.
8ZYYPcTZY!RLe -0
7]LYNSPXPY_
tWPN_]T\`P .*
8L]LN_t]T^_T\`P^
`_TWT^L_ P`]^ .,'./
)+! 574*:/9! + 89! )43 E: !
+ <) 1 :8/;+ 2+39 ! 54: 7! :8'-+ !
* 42+ 89 /6:+&! 1+ ! )43 897:)9+: 7!
* G)1/3+! 94: 9+! 7+ 85438'(/1/9G!
54:7! *4 22'-+8! +9! ( 1+ 88:7+8! )':8G+ 8!
5'7!: 3+!/389'1 1'9/4 3!/3)477+ )9+!4: !5'7!
:3!:8'- +!/257457+$!+7743 G!4 :!'( 8:7 *+&
1?'5 5'7+ /1! 3+ ! *4/9! 5'8! H97+ !
:9/1/8G! 5'7! *+8! 5+78433+8!
"+3,'398! /3 )1:8#! */8548'39! *+!
)'5')/9G8! 5.=8/6:+8$!
8+ 3847/+11+8! 4:! 2+39'1+ 8! 7G*: /9+8$! 4: !
5'7! *+8! 5+78433+8! 3?'='39! 5'8!
1?+<5G7/+ 3)+! 4 :! 1+8! )433'/88'3)+8!
7+ 6:/8+8$!8/!)+!3?+89!84:8!1'!8:7;+/1 1'3)+!
*?:3+ ! 5+78433+! 7+ 85438'(1+! *+! 1+:7!
8G ):7/9G!4:!'57 F8! ';4/7!7+E:! *+! )+1 1+%)/!
1+8!/3897:)9/438!7+1'9/;+8!B!1? :9/1/8'9/43!
*+! 1?'55'7+/1&! 1+ 8!+3 ,'398! *4/;+39 ! H97+ !
8: 7;+/11G 8$ ! ',/3! *+! 8?'88:7+7! 6:?/18! 3+!
04:+39 !5'8!';+)!1?'5 5'7+ /1&
#
.:-. 53 7;
GQT^!SQQT^`Q^!@aZPQ'
cU^!PMZWQZ!?TZQZ!aZP!NQ(
SXpOWcpZ_OTQZ!!aZ_!Rp^!?T^Q
KMTX)
:UQ_Q_!ZQaQ!E^[PaW`'!_[^S(
RnX`US!QZ`c[^RQZ!aZP!YU`
Q^_`WXM__USQZ!BM`Q^UMXUQZ
TQ^SQ_`QXX`'!ca^PQ!SQZMa
SQ\^pR`!aY!MXXQ!?T^Q!<[^PQ^(
aZSQZ!MZ!QUZ!\Q^RQW`Q_!@[(
OTQZ!fa!Q^RpXXQZ)
KU^!NU``QZ!GUQ!PQ_TMXN!PUQ
QUZRMOTQZ!7ZcQU_aZSQZ!fa
XQ_QZ!aZP!QUZfaTMX`QZ'!PMYU`
b[Z!PQ^!Q^_`QZ!7ZcQZPaZS
MZ!Ma_SQfQUOTZQ`Q!;^SQN(
ZU__Q!Q^^QUOT`!cQ^PQZ
WoZZQZ)
BU`!PUQ_QY!Y[PQ^ZQZ
7\\M^M`!cpZ_OTQZ!cU^
?TZQZ!PM_!8Q_`Q)
)*6!- *678*11*6$
:^_TXLOZ!8WTPY_P&
WP!LR]LOPNPXZ^!X`NSZ!d
WP!QPWTNT_LXZ^![Z]!^`
PWPNNTyY(
:^_P!Y`PaZ![]ZO`N_Z&
N`TOLOZ^LXPY_P
P^_`OTLOZ!d!NZY^_]`TOZ
NZY!XL_P]TLWP^!OP![]TXP]L
NLWTOLO&!SL!^TOZ![]ZMLOZ
P^XP]LOLXPY_P![L]L
[ZOP]!^L_T^QLNP]!_ZOL^!^`^
PcTRPYNTL^!OP!`YL![P]QPN_L
NZNNTyY(
DZ]!WZ!_LY_Z!WP!]ZRLXZ^!WPL
d!]P^[P_P!WL^!QoNTWP^!TY'
^_]`NNTZYP^!\`P!WP![P]XT'
_T]oY!WWPRL]!L!]P^`W_LOZ^
PcNPWPY_P^!OP^OP!WL
[]TXP]L!`_TWTeLNTyY(
8ZY!P^_P!XZOP]YZ!L[L]L_Z
WP!Pc[]P^LXZ^!Y`P^_]L^
XPUZ]P^!QPWTNT_LNTZYP^(
.3!,65:;9<,;69
=QMOT`Q!WXMZ`'
cUV!PMZWQZ!a!QZ!RQXUOU`Q^QZ
[Z_!YQ`!PQ!P[[^!a!SQPMZQ
WQafQ)
:U`!ZUQacQ!\^[PaW`'!f[^S(
baXPUS.* 7*7! 56 4) 908 ! .7 8! &17 !
-&9 7- &187 ,*6@8 ! ,* )&(- 8%! +B6 !
7(-& )* 3! &3 ! 7& ( -*3 ! 4)* 6 !
5*67 43 *3$ ! ) .*! &9+! +&17 ( -* !
.3 78& 11&8. 43 ! '> ;% ! 93, ** .,3 *8 *3 !
, *' 6&9( - ! 4 )*6 ! 2.7 7' 6& 9(- !
> 96 B(0> 9+B -6*3 !7.3 )$ !!B'*63 .22 8!)* 6!
- *6 78 *1 1*6!0 *.3 *61*.! : *6 &3 8 ;4 6893 ,%
)&7! ,*6@8! )&6 +! ! 3.( - 8! :43 !
5*6743 *3! "*.37(-1 .*771.(- !
0.3) *63 #! 2.8 ! * .3,*7 (- 6 @308* 6 !
0A65*61.(-* 6!4 )*6! ,* .781.(-* 6 !
0&5&> .8@8 ! 4)*6! 5*674 3*3! 4-3* !
* 6+&-693 ,! 93) ! ).*! 3 48; *3) .,*3 !
0* 338 3.77* !'*398> 8!; *6 )*3 $!*7!7 *.!)*3 3$ !
) .*7!,*7(-.*- 8!938*6!) *6!&9+7.( -8 !4)*6!
3 &(-! 93 8*6;*.7 93,! .2! , *'6&9(-! )*7 !
, *6 @87!) 96 (- !* .3*6 !+B6 !)*6*3 !7.(-* 6- *.8 !
:* 6&3 8; 468 1.(-*3 !5* 67 43% !0.3 )*6! 7.3) !
> 9!' *&9+7.(-8 .,*3 $!92! 7.( -*6>97 8*11 *3$ !
) &77!7 .* !3.(-8!2.8 !)* 2!,* 6@8!75.*1* 3%
2LCHBD
2LQRPSBBHMLDQ
N @P@!DJ!SQS@PHM
>Y^_LWLNTyY /
I_TWTeL NTyY /'3
ALY _PYTXTPY_Z -+
2LQRPSBBHMLDQ
N @P@!DJ!HLQR@J@CMP
>Y^_LWLNTyY -/
8ZYPcTyY! RL^ -1
8ZYPcTyY! PWtN_]TN L
.+
8L]LN_P]T^_vNL^
`_TWT eLOZ]P^ .,'./
+89+! 574 *:)94 ! ,:+! )43)+(/*4 !
5'7'!:3!:84 !*+!9/54!* 42G 89/)4& !
+1! ) 43897:)947! *+)1 /3'!
): '16:/+7! 7 + 85438'(/1/*'*! +3!
+ 1! )'84!*+!*'J 48!+; +39 :'1+ 8!'! )48'8! 4!
5+7843'8! 6:+ ! *+7/;+3 ! * +! : 3'!
/3 89'1')/ K3! /3)477+ )9'! 4 ! *+! :3! :84 !
/2 574 5/4$!+77'*4!4!'(8:7*4&!
34! 5:+*+3! :9/1/>'7! +1! '5'7'94 !
5+7843'8! "/3)1:/*48! 3/J48#!)43!
)'5')/*'*+8!,I8/)'8$! 8+3847/'1+8!
4! 2+39'1+ 8! 7+ *:)/*'8$! 3/ !
5+7843'8! 6:+! 34! */8543-'3! *+! 1'!
+ <5 +7/+3)/'! =! *+! 148! ) 434)/2/+3948!
3+)+8'7/48$! '! 2+348! 6 :+! +89G3! ( '04! 1'!
8:5+7;/8/K3!*+!:3'!5+7843'!7+85438'(1+!
*+! 8:! 8+-:7/*'*! 4! .'='3! 7+)/(/*4! 1'8!
/3897:))/43+8! 3+)+ 8'7/'8! 84 (7+! 1'!
:9/1/>') /K3!*+1!'5'7'94&!14 8!3/J48!9/+3+3 !
6:+!+89'7!)439741'*48!5'7'!'8+-:7'78+ !
*+!6:+! 34!0:+ -'3!)43!+1!'5'7'94&
.KABU
.KPQOR@QFBP
SLLO!AB!DB?ORFHBO
?Z_`MXXM`UQ 0
=Q N^aUW 0(4
DZPQ^T[aP .,
.KPQOR@QFBP
SLLO!AB!FKPQ>II>QBRO
?Z_`MXXM`UQ .0
=M_MMZ_XaU`UZS .2
; XQW`^U_OTQ
MMZ _XaU`UZS /,
@M ^MW`Q^U_`UQWQZ
bQ^N^aUWQ^_ /-(/0
).8! 564) 908! .7! &17!
-9.7- 49)* 1./0! &55&6 &&8!
,*) &(- 8%!:4 46 !'* 7(-&)., .3,* 3!
&&3! 7 5911*3 ! 4+! 5*6 743 *3! ) .*!
&&3! :*60** 6)*! .378&1 1&8 .*$! 2.7' 69.0! 4+!
:*60**6 )* !,* '69.0!> ./3! 8*! ;./8* 3$! 3**2 8!
)*! +&'6.0&3 8! ,** 3!
:*6&38 ;44 6 )*1./0- *.)!45!>.(-%!
).8! &55&6&&8! .7! 3.*8 ! '*)4*1)!
:446! ,*'69.0! ) 446! 5*6743*3!
"2*8 !.3'*,6.5!:&3!0.3) *6*3#!2*8!
:*61&&,)* ! += 7.*0*$!7*374 6.7( -*!
4+! 2*3 8&1*! :*624,*37$! 4+! 2*8! ,*'6 *0!
&&3!*6 :&6.3, !*3! 0*33.7$!8*3>./! >./!1 *.) .3,!
4+! .37869(8.*7! - *''*3! 438:& 3 ,*3!
'*86*++*3)*!-*8!,*' 69.0!:&3!-*8!&55&6&&8!
)446! 2 .) )*1! :&3! **3! 5*674 43! ) .*! :446 !
-93! :*.1.,-*.)! :*6 &3 8;446)*1./0! .7%!
0.3)*6*3!2 4*8*3!;46)*3!,*(4 38641**6 )!
42! 8*! ,&6&3)*6*3 ! )&8! >./!3 .*8 ! 2*8 ! - *8!
&55&6&&8 !75*1*3%
6!/*+92,*5;.
aLCHBD
2LQRPShoDQ
N@P@!M!SRHJHW@CMP
>Y^_LWLrqZ /
I_TWTeLrqZ /'3
ALY`_PYrqZ -+
2LQRPShoDQ
N@P@!M!HLQR@J@CMP
>Y^_LWLrqZ -/
8ZYPcqZ!OZ!Ro^ -1
8ZYPcqZ!PWtN_]TNL
.+
8L]LN_P]T^_vNL^!OL^
[PNL^!L!`_TWTeL] .,'./
+89+! 574*:9 4! ,4 /! )43)+(/*4!
5'7'! :2'! :9 /1/>'ED4! *+! 9/54 !
*42G89/)'&! 4 ! ,'(7/) '39+ !
*+)1/3'! 94* '8! '8 !
7+ 85438'(/ 1/*'*+ 8!34!)'84 !* +!+ ;+ 39:'/8 !
* '348!'!)4/8'8!4:!5+ 884'8!*+7/;'*48!*+ !
: 2'! /389'1'ED4! /3)477+)9' ! 4:! *+! :84!
/2 57K 57/4$!+ 77K 3+ 4!4 :!'(8:7*4 &
4!'5'7+1 .4!3D4!*+ ;+! 8+7!:8'*4 !
547! 5+884'8! "/3)1:8/;+!
)7/'3 E'8#! )42 ! )'5')/*'*+ 8!
,I8/)'8$! 8+3847/'/8! 4:! 2+ 39'/8!
7+* :>/*'8$! 4:! 547! 5 +884'8! 6:+! 3D4!
9 +3.'2!+<5+ 7/H3)/'8!3+2 !!)43 .+)/2+394!
3 +)+88C7/4! '! 3D4! 8+7! 6:+! 8+ 0'2 !
8:5+7;/8/4 3'*'8! +! /3897:I* '8$! 84(7+! 4!
: 84 ! *4! '5'7+1.4$! 547! :2'! 5+884'!
7+85438C;+1 !5+1 '!8+-: 7'3E'!* '8!2+ 82'8& !
'8!)7/'3 E'8!*+; +2!8+7!)4 39741 '*'8!5'7'!
)43 9741'*'8!5'7'!8+!9+7!)+79+>'! *+! 6:+!
3 D4!(7/36:+2! )42!4!'5'7+1.4&
$
2; 0+ /9
2QRPSWHMLH
NDP!JYSRDLRD
2LQR@JJ@WHMLD
H`__P!WP!Z[P]LeTZYT!]PWL'
_TaP!LWWiTY^_LWWLeTZYP!#LW'
WLNNTLXPY_Z!PWP__]TNZ&!LW'
WLNNTLXPY_Z!RL^&!LOL_'
_LXPY_Z!LW!_T[Z!OT!RL^&
NZY^PR`PY_T!]PRZWLeTZYT&
PNN($!OPaZYZ!P^^P]P!P^P'
R`T_P!OL![P]^ZYLWP!\`LWT'
QTNL_Z!^PNZYOZ!WP!YZ]XP
aTRPY_T(!DP]!WP!T^_]`eTZYT
^[PNTQTNSP!aPOT!WL![L]_P
]T^P]aL_L!LWWiTY^_LWWL_ Z]P(
<QM
+PSBH@RMPH!F@Q!
@"LNNPY^TZ YP!OPW!M]`NTL_Z]P
LaaTPYP!LaaT NTYLYOZ!`YL
QTLXXPWWL!LT!QZ]T!OPWWL![L]_P
^`[P]TZ]P!OPWWZ!^_P^^Z
[]PXPYOZ!P!]`Z_LYOZ!TY
^PY^Z!LY_TZ]L] TZ!WL!XL'
YZ[ZWL!NZ]]T^[Z Y OPY_ P!^TYZ
L!QL]YP!NZTYNTOP]P!W"TYOTNP
NZY!WL![Z^TeTZYP!OT!XL^'
^TXZ(!6O!LNNPY^TZYP!La'
aPY`_L!]P R ZWL]P!WL!QTLXXL
^PNZYO Z !WL!YPNP^^T_n(!@L
[Z^TeTZYP!OT!XTYTXZ!^T
_]ZaL!LW!_P]XTYP!OPWWP!]Z_L '
eTZYP!LY_TZ]L]TL(!BPT
XZOPWWT!NZY!LNNPY^ TZYP
L`_ZXL_TN L!LRT]P!^`WWL!XL'
YZ[ZWL!NZXP!^Z[]L
OP^N]T__Z&![]PXPYOZ!NZY'
_PX[Z]LYPLXPY_P!W"L['
[Z^T_Z![`W^LY_P(!BPT!XZOPWWT
NZY!LNNPY^TZYP!L`_ZXL_TNL)
^TX`W_LYPL!#L!`YL!XLYZ$!s
^`QQTNTPY_P!LRT]P!NZXP!^Z[]L
OP^N]T__Z!^`WWL!^ZWL
XLYZ[ZWL!NZ]]T^[ZYO PY_P(
@L!^NL]TNL!PWP__]TNL!Q]L
NLYOPWTYL!P!M]`NTL_Z]P!On
W`ZRZ!LWW"LN NPY^TZYP!OPW
M]`NTL_ Z]P!TY_P]P^^L_Z(!6O
LNNPY^TZYP!LaaPY`_L!]TWL'
^NTL]P!TXXPOTL_LXPY_P!TW
[`W^LY_P!]PRZWLYOZ!WL!QTLX'
XL!^PNZYOZ!YPN P^^T_n(
@iLNNPY^TZYP!OPW!M]`NTL_Z]P
YPT!XZOPWWT!NZY!^TN`]PeeL
_P]XZPWP__]TNL!LaaTPYP!NZXP
#;TRR (!+'-$(
.KPQOR@QFLKP
CLO!RPB
.KPQ>II>QFLK
7XX!`TQ![\Q^M`U[Z_!O[Z(
OQ^ZQP!cU`T!`TQ!UZ_`MXXM`U[Z
$QXQO`^UOMX!MZP!SM_
O[ZZQO`U[Z_'!MPM\`M`U[Z!`[
`e\Q![R!SM_'!ZQOQ__M^e
MPVa_`YQZ`_'!Q`O)%!Ya_`!NQ
OM^^UQP![a`!Ne!]aMXURUQP
`QOTZUOUMZ_'!UZ!`Q^Y_!cU`T
`TQ!_`MZPM^P_!UZ!R[^OQ)
<[^!_\QOURUO!UZ_`^aO`U[Z_'
WUZPXe!^QMP!`TQ!\M^`!^Q(
_Q^bQP!R[^!`TQ!UZ_`MXXM`U[Z
`QOTZUOUMZ)
9PB
,>P!?ROKBOP
HTQ!USZ U`U[Z![R!`TQ!SM_
Na^ZQ^!U_!OM^^UQP![a`!Ne
\a``UZS!M!_YMXX!RXMYQ!`[!`TQ
a\\Q^!\M^`!T[XQ_![R!`TQ
Na^ZQ^'!\^Q__UZS!MZP
^[`M`UZS!`TQ!O[^^Q_\[ZPUZS
WZ[N!UZ!MZ!MZ`U(OX[OWcU_Q
YMZZQ^'!aZ`UX!`TQ!YMdU(
YaY!\[_U`U[Z!TM_!O[UZOUPQP
cU`T!`TQ!YM^WQ^)!!KTQZ!`TQ
SM_!Na^ZQ^!TM_!NQQZ!`a^ZQP
[Z'!MPVa_`!`TQ!RXMYQ
MOO[^PUZS!`[!ZQQP)!!HTQ
YUZUYaY!\[_U`U[Z!U_!R[aZP
M`!`TQ!QZP![R!`TQ!MZ`U(
OX[OWcU_Q!^[`M`U[Z
PU^QO`U[Z)
?Z!Y[PQX_!cU`T!Ma`[YM`UO
USZU`U[Z'![\Q^M`Q!`TQ!WZ[N
M_!PQ_O^UNQP!MN[bQ'!\^Q__UZS
_UYaX`MZQ[a_Xe'!`TQ!O[^(
^Q_\[ZPUZS!\a_T(Na``[Z)
<[^!Y[PQX_!cU`T!Ma`[YM`UO*
_UYaX`MZQ[a_!$cU`T![ZQ
TMZP%!USZU`U[Z'!U`!U_
_aRRUOUQZ`!`[!\^[OQQP!M_
PQ_O^UNQP!MN[bQ!a_UZS!`TQ
O[^^Q_\[ZPUZS!WZ[N)!HTQ
QXQO`^UO!_\M^W!NQ`cQQZ!`TQ
USZU`U[Z!\XaS!MZP!`TQ
Na^ZQ^!\^[bUPQ_!`TQ
USZU`U[Z![R!`TQ !Na^ZQ^!U`_QXR)
7R`Q^!USZU`U[Z'!UYYQPUM`QXe
^QXQM_Q!`TQ!\a_T(Na``[Z!MZP
MPVa_`!`TQ!RXMYQ!MOO[^PUZS
`[!ZQQP)
<[^!Y[PQX_!cU`T!M
`TQ^Y[QXQO`^UO!_MRQ`e
!$<US)!,(.%)
5MRHBD
CYDKNJMH
2LQR@JJ@RHML
HZ`_P^!WP^!Z [t]L_TZY^!]PWL'
_TaP^!n!WiTY^_LWWL_TZY
#M ]LYNSPXPY_!tWPN_]T\`P&
]LN NZ]O PXPY_!RL e&
LOL[ _L_TZY!L`!_d[ P!OP!RLe&
]tRWLRP^!YtNP^ ^LT] P^&!P_N((($
OZTaPY_ !u_ ]P!PQQPN_`tP^![L]
OP^!^[tNTLWT^_P^!^`TaLY_!WP^
YZ]XP^ !PY!aTR` P`] (
DZ` ]!WP^!TY^_]`N_TZY^!^[tNT'
QT\`P^&!aZ T]!WL![ L]_TP!\`T
NZYNP]YP!WP^!XZOLWT_t^
OiTY^_LWWL_TZY(
4MCD!CYDKNJMH
+Pq JDSPQ!d!F@W!
LWW`XP!WP!M]}WP`]!PY!L['
[]ZNSLY_! `YP![P_T_P!QWLXXP
L`c!_]Z`^!OP!^L![L]_TP
^`[t]TP`]P!!PY![Z`^^LY_!P_
_Z`]YLY_!OLY^!WP!^PY^
NZY_]LT]P!OP^!LTR`TWWP^!Oi`YP
XZY_]P!WL!XLYP__P!NZ]]P'
^[ZYOLY_!U`^\`in!QLT]P!NZwY'
NTOP]!WiLTR`TWWP!LaPN!WL
[Z^T_TZY!OP!XLcTX`X(
E`LYO!WP!M]`WP`]!P^ _!PY
XL]NSP&!]sRWP]!WL!QWLXXP
^PWZY!WL!YtNt^^T_t(!@L![Z'
^T_TZY!OP!XTYTX`X!^P
_]Z`aP!n!WL!QTY!O P!WL!]Z_L_TZY
NZY_]LT]P!L`!^PY^!OP^!LTR`TW'
WP^!Oi `YP!XZY_]P(
DZ`]!WP^!XZOsWP^!n!LWW`'
XLRP!L`_ZXL_T\`P!_Z`]YP]
WL!XLYP__P!NZXXP!TYOT\`s
NT'OP^^ `^&!PY! [Z`^^LY_!PY
XPXP!_PX[^!WP!MZ`_ZY
^[sNTLW (!DZ`]!WP^!XZOsWP^!n
LWW`XLRP!L`_ZXL_T\`P)
^TX`W_LYt!#n!`YP!XLTY$&!TW
^`QQT_!OiLRT]!^`]!WP!MZ`_ZY
NZ]]P^[ZYOLY_&!NZXXP!TW!P^_
TYOT\`t!NT'OP^^`^(!@L!Ot'
NSL]RP!tWPN_]T\`P!PY_]P!WL
[P_T_P!MZ`RTP!P_ !WP!M]}WP`]
LWW`XP!WP!M]}WP`]!TY_P]P^^t(
E`LYO!WP!M]}WP`]!P^ _
LWW`Xt&!WpNSP]!WL!XLYP__P&!P _
]PRWP]!WL!QWLXXP!^PWZY
YtNt^^T_t(
9LY^!WP!NL^!OP!XZOsWP^
OZ`t^!OP!^}]P_t!_SP]XZ'
#;TR(!+'-$(!CY
%
.:-. 53 7;
&KTBFPRKDBK
C_ O!ABK! 'BKRQWBO
.KPQ>II>QFLK
GnY`XUOTQ!?Z_`MXXM`U[Z_M^(
NQU`QZ!$;XQW`^[MZ_OTXam'
=M_MZ_OTXam'!7Z\M__aZS
MZ!QUZQZ!MZPQ^QZ!=M_`e\Q'
PM^MaRR[XSQZPQ!;UZ_`QXXaZ(
SQZ'!a_c)%!Yp__QZ!XMa`!PQ^
SQX`QZPQZ!J[^_OT^UR`QZ
Pa^OT!<MOT\Q^_[ZMX!Ma_SQ(
RpT^`!cQ^PQZ)
<p^!PUQ!_\QfURU_OTQZ!7ZXQU(
`aZSQZ!bQ^cQU_ QZ!cU^!MZ
PQZ!PQY!?Z_`MXXM`Qa^!b[^(
NQTMX`QZQZ!HQUX)
,B?O>R@E
,>P?OBKK BO
7ZfpZPaZS!PQ_!=M_N^QZZQ^_
QUZQ!<XMYYQ!SQSQZ!PUQ
WXQUZQZ!AoOTQ^!MZ!PQ^
8^QZZ_`QXXQ!TMX`QZ'!c[NQU!YMZ
PQZ!QZ`_\^QOTQZPQZ!@Z[\R
QZ`SQSQZ!PQY!IT^fQUSQ^_UZZ
NU_!fa^!=^[m_`QXXaZS!P^QT`
aZP!SQP^pOW`!TnX`)!G[NMXP!PQ^
8^QZZQ^!MZSQfpZPQ`!U_`'
=M_RXMYYQ!MaR!PUQ
SQcpZ_OT`Q!G`QXXaZS!^QSQXZ)
:UQ!@XQU Z_`QXXaZS!NQRUZPQ`
_UOT! MY!;ZPQ!PQ^!:^QTaZS
QZ`SQSQZ!PQY!IT^fQUSQ^_UZZ)
8QU!PQ Z!B[PQXXQZ!YU`!Ma`[(
YM`U_OTQ^!7ZfpZPaZS!PQZ
@Z[\R!cUQ![NQZ!NQ_OT^UQNQZ
NU_!fa^!@XQUZ_`QXXaZS!P^QTQZ'
c[NQU!YMZ!SXQUOTfQU`US!MaR
PM_!PMRp^!NQ_`UYY`Q!7ZfpZ(
PaZS_WZo\ROTQZ!P^pOW`)!8QU
PQZ!B[PQXXQZ!YU`
Ma`[YM`U_OTQ^*_UYaX`MZQ^
LpZP aZS!$QUZ TnZPUS%!Za^
PQZ!QZ`_\^QOTQZPQZ
8QPUQZWZ[\R!cUQ![NQZ
NQ_OT^UQNQZ!NQ`n`USQZ)
:UQ!QXQW`^U_OTQ!;Z`XMPaZS
fcU_OTQZ!PUQ_QY!;XQYQZ`!aZP
PQY!8^QZZQ^!bQ^a^_MOT`!PUQ
7ZfpZPaZS!PQ^!SQcpZ_OT`QZ
8^QZZ_`QXXQ)!G[ NMXP!P Q^
8^QZZQ^!MZ!U_`'!PQZ!@Z[\R
_[R[^`!X[_XM__QZ!aZP!PUQ
<X MYYQ!ZMOT!KaZ_OT!^QSQXZ)
:UQ!8^QZZQ^fpZPaZS!NQ U!PQZ
B[PQXXQZ!YU`!`TQ^Y[(
QXQW`^U_OTQ^!GUOTQ^ TQ U`!Q^R[XS`
!$7NN)!,(.%)!La^
2LQRPSBBHMLDQ
N@P@!DJ!SQS@PHM
2LQR@J@BHnL
HZOL^!WL^!Z[P]LNTZYP^!]PWL_T'
aL^!L!WL!TY^_LWLNTyY
#NZYPcTyY!PWtN_]TNL&
NZYPcTyY!OP!RL^ &
LO L[_LNTyY!LW!_T[Z!OP!RL^&
]PR`WLNTZYP^
NZ]]P^[ Z YOTPY_P^&!P_N($
_TPYPY!\`P!^P]!PQPN_`LOL^
[Z]![P]^ZYL W!N`LWTQT N LOZ
^PR|Y!WL^!YZ]XL^!aTRPY_P ^(
DL]L!WL^!TY ^_]`NNTZYP^!P^[P'
NvQTNL^!at L^P!WL![L]_P
]P^P]aLOL!LW!TY^_LWLOZ] (
<RHJHW@BHnL
8SDK@CMPDQ!CD!F@Q
#;TR(!+'-$(!:W!PYNPYO TOZ!OPW
\` PXLOZ ]!_TPYP!W`RL]
L NP]N LYO Z!`Y L!WWL XL!L!WZ^
L R`UP]Z^!OP!WL![L ]_P!OP
L ]]TML!OPW!XT^X Z
\` PXLOZ ]![]P^TZYLYOZ!d
RT]L YOZ!PY !^PY_TO Z!LY_ TSZ'
] L]TZ!PW![` xZ!NZ]] P^[ZY'
OTPY_P!SL^ _L!\`P!^` !TYO TNL'
OZ]!NZTYNTO L!NZY!W L![Z ^T'
NTy Y!OP!XocTX Z(!IYL!aPe
PQ PN_`L OZ!PW!PYNPYOTO Z! ]P'
R` WL]!WL!WWLXL!^PR|Y!W L!YP'
NP^TOLO (!@L![Z^ TNTy Y!OP
X vYTXZ!P^ _o!LW!QTY LW!OP!WL
] Z_LNTyY!LY_TSZ]L]TL(
:Y!WZ^!X ZO PWZ^!NZY!PYNPY'
OTOZ !L`_ZX o_TNZ!LN_` L]!^Z'
M]P!PW![`xZ!NZ XZ !OP^N]T_ Z
L ]]TML&![]P^TZYLYO Z
NZY_PX [Z]oYPLXPY _P!PW
L []Z[TLO Z^TX` W_oY PZ
#NZY!`YL !XL YZ$!P^
^`QTNTPY _P!LNNTZYL]!PW
X LYOZ!]P^[ PN_TaZ!N ZXZ !^P
T YOTNy!LY_ P]TZ]XPY_P(
@L!OP^ NL] RL!PWtN_]TNL!PY_] P
M` UvL!d!\`PX LOZ]![]Z aZNL
PW !PYN PYOTO Z!O PW
\` PXLOZ ]!TY_P] P^LO Z(!IYL
aPe !PQPN_`LO Z!PW
PY NPYO TOZ!^ZW_L]!TYXPO TL'
_LXPY_P!PW ![`W^LO Z ]!]PR` '
W LYOZ!WL!WW LXL!^PR|Y!WL!YP'
NP^TOLO (
.KPQOR@QFBP!SLLO
AB!DB?ORFHBO
.KPQ>II>QFB
7XXQ!TMZPQXUZSQZ!YQ`!NQ(
`^QWWUZS!`[`!PQ!UZ_`MXXM`UQ
$QXQ W`^U_OTQ! MMZ_XaU`UZS'
SM_MMZ_XaU`UZS'!MMZ\M__UZS
MMZ!QQZ!MZPQ^Q!SM__[[^`'
PMM^aU`!b[[^`bX[QUQZPQ
MR_`QXXUZSQZ'!QZf)%!Y[Q`QZ
c[^PQZ!aU`SQb[Q^P!P[[^!SQ(
WcMXURUOQQ^P!\Q^_[ZQQX!b[XSQZ_
PQ!SQXPQZPQ!Z[^YQZ)!LUQ!b[[^
PQ!_\Q OURUQWQ!UZ_`^aO`UQ_!TQ`
SQPQQX`Q!SQ^Q_Q^bQQ^P!b[[^!PQ
UZ _`MXXM`Qa^)
,B?ORFH
,>P?O>K ABO
[Z`_`QWUZS!bMZ!PQ!N^MZPQ^
SQNQa^`!P[[^!QQZ!bXMYYQ`VQ
PUOT`!NUV!PQ!SMM`VQ_!N[bQZ[\
PQ!N^MZPQ^!`Q!T[aPQZ!QZ!SQ(
XUVW`UVPUS!PQ!O[^^Q_\[ZPQ^QZPQ
WZ[\!UZ!`Q!P^aWWQZ!QZ!`QSQZ
PQ!WX[W!UZ!`Q!P^MMUQZ!`[`PM`
PQfQ![bQ^QQZW[Y`!YQ`!PQ
jYMdUYaYk(!UZPUOM`UQ)!FQSQX
ZM![Z`_`QWUZS!PQ!bXMY!ZMM^
cQZ_)!:Q!jY UZUYaYk(\[_U`UQ
NQbUZP`!fUOT!MMZ!TQ`!QUZPQ
bMZ!PQ!P^MMUUZS!`QSQZ!PQ!WX[W
UZ )
8UV!PQ!Y[PQXXQZ!YQ`!Ma`[(
YM`U_OTQ![Z`_`QWUZS!PQ
P^MMUWZ[\!NQPUQZQZ!f[MX_
N[bQZ![Y_OT^QbQZ'!`Q^cUVX
`QSQXUVWQ^`UVP!PQ!P^aWWZ[\
Q^ZMM_`!c[^P`!UZSQP^aW`)!:Q
TUQ^NUV![Z`_`MZQ!b[Z W!fMX!PQ
PQ_NQ`^ QRQZPQ!N^MZPQ^!P[QZ
[Z`_`QWQZ)
?Z!PQ!Y[PQXXQZ!PUQ
Ma`[Y M`U_OT!*!SQXUVW`UVPUS
$YQ`!QQZ!TMZP%!WaZZQZ
c[^PQZ!MMZSQ_`[WQZ'!T[QR`!a
QZWQX!QZ!MXXQQZ![\!PQ
[bQ^QQZ_`QYYQZPQ!WZ[\!PQ
b[[^Y QXPQ!cQ^WcUVfQ!`Q
b[XSQZ)
CM![Z`_`QWUZS!PQ!P^aWWZ[\
PU^QO`!X[_XM`QZ!QZ!PQ!bXMY
ZMM^!cQZ_!^QSQ XQZ)
D\!PQ !Y[PQXXQZ!YQ`!QQZ
`TQ^Y[(QXQW`^U_OTQ!bQUXUSTQUP
WMZ!a!PQ!ba^QZ!MMZ_`QWQZ
f[MX_!UZ!PQ!PUbQ^_Q
$7RN)!,(.%) :Q
2LQRPShoDQ!N@P@
M!SRHJHW@CMP
2LQR@J@hgM
HZOL^!L^!Z[ P]LrzP^ !]P'
WL_TaL^ !n!TY^_LW Lrq Z
#WTRL rq Z! PWtN_]TNL&!WTRL rq Z
OP!Ro^ &!L OL[ _L rq Z!L Z!_T[Z
OP!Ro^ &!] PR`WLrzP^
^`M^ P\`PY_P^ &!P_N($ _P]q Z
OP!^P]!PQPN_` LOL^![ Z]
[P^^ZL W!\`L WTQTNLO Z&
^PR`YO Z!L^!YZ]XL ^!PX
aTRZ ](
DL]L!TY^ _]`rzP^!P^[ PNvQTNL^&
aPUL' ^P !L![L]_ P!]P^ P]aLOL
[L]L!Z !_tNYT NZ!TY^_L WLOZ](
<RHJHW@hgM
8SDHK@CMP!CD!FeQ
#;TR(!+'-$( DL] L!!LNPYOP]!Z
\`PTXLOZ]!OP!Ro^&![ZYSL!L
NSLXL!YZ^!Q`]Z^!OL![L]_P
^`[P]TZ]!OZ!OT_Z!\`PTXLO Z]&
QLePYOZ![]P^^ qZ!P!]ZOLYOZ
Z![`YSZ!NZ]]P^[ZYOPY_P!PX
^PY_TO Z!LY_T'SZ]o]TZ!L_t
QLeP]!NZTYNTOT]!Z!vYOTNP!NZX
L![Z^TrqZ!XocTXL(!!@ZRZ
\`P!Z!\`PTXLOZ]!OP!Ro^
P^ _TaP]!LNP^Z&!]PR`W P!L
NSLXL!^PR`YOZ!L
YPNP^^TOLOP(!!!6![Z^TrqZ
XvYTXL!PYNZY_]L'^P!YZ
_P]XZ!OL!]Z_LrqZ!LY_T'
SZ]o]TL(!BZ^!XZOPWZ^!NZX
L_LXPY_Z!L`_ ZXo_TNZ&
LNNTZYL]!Z![`YSZ!NZXZ
OP^N]T_Z!PX!NTXL&!QLePYOZ
[]P^^qZ&!^TX`W_pYPLXPY_P&
^ZM]P!Z!NZ]]P^[ ZYOPY_P
MZ_qZ!OP![]P^^qZ(!B Z^
XZOPWZ^!NZX!LNPYOTXPY_Z
L`_ZXo_TN Z)^TX` W_pYPZ
#NZX!`XL!XqZ$&!ML^_L
^PR`T ]!Z![]ZNPOTXPY_Z
OP^N]T_Z!LNTXL!L[PYL^!YZ
MZ_qZ!NZ]]P^[ZYOPY_P(
6!OP^NL]RL!PWtN_]TNL!PY_]P!L
aPWLeTYSL! P!Z!\`PTXLOZ]!OP
Ro^!LNPYOP]o!P^_P!|W_TXZ(
@ZRZ!\`P!Z!\`PTXLOZ]
P^ _TaP]!LNP^Z&!^ZW_P
TXPOTL_LXPY_P!Z!MZ_qZ!OP
[]P^^qZ&!]PR`WLYOZ !L!NSLXL
^PR`YOZ!L!YPNP ^^ T OLOP(
C!LNPYOTXPY_Z!OZ
&
'- & " %+
SJN"IN[JWXN"HFXN"XTUWF"IJ&
XHWNYYN"YJSJSIT"UWJRZYF"F
KTSIT"QF"RFSTUTQF"SJQQF
UTXN_NTSJ"I N"RFXXNRT"UJW
HNWHF",(."XJHTSIN'"<JQ
WNQFXH NFWJ"QF"RFSTUTQF"FX&
XNHZWFWXN"HMJ"NQ"GWZHN FYTWJ
WNRFSLF"FHHJXT'
<'2'"&"XN"HTSXNLQNF"IN"ZXFWJ
UJSYTQJ"IN"INFRJYWT"FIFYYT
FN"GWZHNFYTWN"J[NYFSIT"HMJ"QF
KNFRRF"FQ"RFXXNRT
KZTWNJXHF"IFQ"KTSIT"IJQQJ
XYJXXJ
&"STS"QFXHNFWJ"UJSYTQJ"[ZTYJ
XZQ"KZTHT"FHHJXT
&"XZN"UNFSN"3W^ XYFQ"STS"ZXFWJ
FHHJXX TWN"IN"HTYYZWF"FQQF
LWNLQNF'
1Q"YJW RNSJ"IJQQF"HTYYZWF"j
GZTSF"STWRF"UWT[[JIJWJ
FSHMJ"FQQF"HMNZXZWF"IJQ"WZGN&
SJYY T"UWNSHNUFQJ"IJQ
HTSITYYT "J(T"IJQQF"GTRGTQF'
Korqtvcpvg
A%# MEI#OIAMI#CNM#RICTQEXXA#
SEQLNEKESSQICA#MNM#AXINMAQE#
K^ACCEMRINME#NKSQE#+/#RECNMDI(#
>E#DNON#+/#RECNMDI#IK#
BQTCIASNQE#MNM#RI#j#ACCERN&#
AOQIQE##KA#ONQSA#DEK#KNCAKE#E#
ASSEMDEQE#AKLEMN#TM#LIMTSN#
OQILA#DI#QISEMSAQE(
B%#
MEI#OIAMI #REMXA#RICTQEXXA#IM#
CA RN#DI#ERSIMXINME#DEK KE#"ALLE#
DI#TM#BQTCIASNQE#CHITDEQE#IK#
QTBIMESSN#CNQQIRONMDEMSE#E#MN M#
QISEMSAQE#K^ACCEMRINME#OQILA #DI#
TM#LIMTSN(
Rkcuvtg"gngvvtkejg"1"Gngogpvk"
tkuecnfcpvk"xgvtqegtcokek"
$7IGG(#,',A'-%(#=TNSAQE#KA#
LAMNONKA#RTKKA#ONRIXINME#
CNQQIRONMDEMSE#AKKE#MECERRISe#DI#
CNSSTQA#SEMEMDN#OQEREMSE#CHE#A#
MTLEQN#LAGGINQE#CNQQIRONMDE#
LAGGINQE#EQNGAXINME#DI#
CAKNQE&#UEDI#SABEKKA#_TSIKIXXN#
OIARSQE#EKESSQICHE`)EKELEMSI#
QIRCAKDAMSI#UESQNCEQALICI(9A#
KALOADA#ROIA#ACCERA#REGMAKA#
K^IMREQILEMSN#DEKKA#OIARSQA(#
Xc"eqowpswg"eqpukfgtcvq "
pqtocng."rgt"egtvk"vkrk"fk"
ncorcfc."kn"rgtocpgtg"fk"wpc"
ngiigtc"nwokpguegp|c"cpejg"c"
eqocpfk"fkukpugtkvk0
X^XYKS$"YNK"HZWTKW"OX
OMTOYKJ"GX"OT"YNK"[GWOUZX
IGXKX"JKXIWOHKJ"GHU[K$
QKKVOTM"YNK"QTUH"LZRR^
VWKXXKJ"UT"YNK"SG]OSZS
VUXOYOUT"LUW"GVVWU]OSGYKR^
+'-"XKIUTJX&"1LYKW"WKRKGXOTM
YNK"QTUH$"SGQK"XZWK"YNK
HZWTKW"OX"GIYZGRR^"ROY&
=&2&"%"\K"WKIUSSKTJ"YNK
ZXK"UL"VUYX"GTJ"VGTX"\OYN"G
JOGSKYKW"SGYINOTM"YNGY"UL
YNK"HZWTKW$"YNZX"VWK[KTYOTM
YNK"LRGSK"LWUS"KXIGVOTM
LWUS"YNK"HUYYUS"VGWY"GTJ
XZWWUZTJOTM"YNK"VUY
%"JU"TUY"RKG[K"GT^"KSVY^
VUYX"UW"VGTX"UT"YNK"LOWK
%"JU"TUY"ZXK"GT^"YUURX"LUW
MWORR%IUUQOTM"UT"3W^XYGR
NUHX&
ENKT"IUUQOTM"OX"LOTOXNKJ$"OY
OX"GRXU"G"MUUJ"TUWS"YU"IRUXK
YNK"SGOT"MGX"VOVK"YGV"GTJ'
UW"I^ROTJKW&
.BEDGI6CI
D%#RQ#"RRUV#ZLWK#WKHUPRHOHFWULF#
SURWHFWLRQ#GR#QRW#NHHS#WKH#
LJQLWH#EXWWRQ#SXVKHG#IRU#
PRUH#WKDQ#*-#VHFRQGV(#7I#WKH#
EXUQHU#KDV#QRW#LJQLWHG#DIWHU#
*-#VHFRQGV&#RSHQ#WKH#GRRU#RI#
WKH#URRP#DQG#ZDLW#DW#OHDVW#
RQH#PLQXWH#EHIRUH#PDNLQJ#D#
IXUWKHU#DWWHPSW(
E%#RQ#"RRUV#ZLWKRXW#SURWHFWLRQ&#
VKRXOG#WKH#EXUQHU#"DPH#JR#
RXW#FORVH#WKH#FRUUHVSRQGLQJ#
JDV#FRFN#DQG#ZDLW#DW#OHDVW#RQH#
PLQXWH#EHIRUH#PDNLQJ#DQ[#
DWWHPSW#WR#LJQLWH#LW(
*A:8IG>86A"EA6I:H"&"
5>IGD8:G6B>8"=:6I>C<":A:B:CIH
$4LJ(#+'+D',%(#=RWDWH#WKH#NQRE#
WRZDUGV#WKH#SRVLWLRQ#UHTXLUHG#
IRU#FRRNLQJ#DQG#EHDU#LQ#PLQG#
WKDW#WKH#KLJKHU#WKH#QXPEHU&#WKH#
KLJKHU#WKH#KHDW#RXWSXW(#>HH#WDEOH#
bXVH#RI#HOHFWULFDO#SODWHVc)#KHDWLQJ#
HOHPHQWV#YLWURFHUDPLF(#?KH#SLORW#
OLJKW#VLJQDOV#WKDW#WKH#SODWH#LV#
bRQc(#
3DB:"IME:H"D;"E>ADI"A><=IH"
L>AA"B6>CI6>C"HDB:"HA><=I"
AJB>C:H8:C8:":K:C"6;I:G"
9>H8DCC:8I>DC%"4=6I">H"FJ>I:"
CDGB6A%"
kQJHYWNVZJ%" Q#FQQZRFLJ"IZ
GWpQJZW"F"QNJZ"HTRRJ"I FSX
QJX"HFX "IkHWNYX"HN&IJXXZX"JS
FUUZ^FSY"e"KTSI"XZW"QF
RFSJYYJ"UQFHkJ"e"QF"UTXNYNTS
RF]NRFQJ"UJSIFSY"JS[NW TS
,( ."XJHTSIJX'"1Z"RTRJSY
Tn"[TZX"WJQgHMJ_"QF"RFSJYYJ%
FXXZWJ_&[TZX"VZJ"QJ"GWpQJZW
JXY"FQQZRk'
<'2'0"&"TS"DTZX"HTSXJNQQJ
I`ZYNQNXJW"IJX"HFXXJWTQJX
F[JH"ZS"INFRjYWJ"UWTUTW&
YNTSSk"FZ]"GWpQJZWX"k[NYFSY
VZJ"QF"KQFRRJ"FZ"RF]NRZR
IkGTWIJ"IJ"QJZW"KTSI
&"SJ"QFNXX J_"OFRFNX"IJ"HFX&
XJWTQJX"[NIJX"XZW"QJ"KJZ"FQ &
QZRk
&"S#JRUQT^J_"UFX"I#ZXYJS&
XNQJX"UT ZW"HZNXXTS"LWNQQ"XZW
QJX"UQFVZJX"IJXXZX "[JWWJ'
1"Q F"KNS"IJ"QF"H ZNXXT S"NQ"KFZY
KJWRJW"QJ"WTGNSJY"UWNS HNUFQ
IZ"HTSIZNY"JY(TZ"IJ"QF"GTZ&
YJNQQJ'
Korqtvcpv
A%##RTQ#KER#OKAPTER#DNSkER#DE#RkCTQISk#
SHEQLNkKECSQIPTE&#ME#OAR#ACSIUEQ#
K^AKKTLAGE#OEMDAMS#OKTR#DE#+/#
RECNMDER(#>I#&#AOQjR#+/#RECNMDER#KE#
BQqKETQ#ME#R^ERS#OAR#AKKTLk&#NTUQIQ#
KA#ONQSE#DE#KA#OIjCE#ES#ASSEMDQE#
AT#LNIMR#TME#LIMTSE#AUAMS#DE#
QkERRAWEQ(
B%##RTQ#KER#OKAPTER#PTI#ME#RNMS#
OAR#DNSkER#DE#RkCTQISk&#EM#
CAR#D^EVSIMCSINM#DER#!ALLER#
D^TM#BQqKETQ&#FEQLEQ#KE#QNBIMES#
CNQQERONMDAMS#ES#ASSEMDQE#AT#LNIMR#
TME#LIMTSE#AUAMS#DE#QkERRAWEQ(
Rncswg"ëngevtkswgu"1"Gnëo gpvu"fg"
#
ejcwhhg"xkvtqeëtcokswgu"
?NTQMEQ#KE#BNTSNM#DAMR#KA#ONRISINM#
CNQQERONMDAMSE#ATV#MkCERRISkR#DE#
CTIRRNM&#EM#GAQDAMS#e#K^EROQIS#PTE#KA#
ONRISINM#LAVILTL#CNQQERONMD#e#
KA#OKTR#GQAMD#kLIRRINM#DE#CHAKETQ&#
UNIQ#SABKEAT#_TSIKIRASINM#OKAPTER#
kKECSQIPTER`)EKkLEMSR#DE#CHATFFE#
UISQNCkQALIPTER(#9E#UNWAMS#KTLIM ETV#
AKKTLk#IMDIPTE#KE#FNMCSINMMELEMS#DE#
KA#OKAPTE(#
Rqwt"fg"egtvckpu"v{rgu"fg"xq{cpvu"
nwokp gwz"nc"rgtocpgpeg"f w pg"nëiêtg"
nwokp kue gp eg"oìog"â"eqoocpfgu "
fëeqppgevëgu "guv"vqwv"â"hckv"pqtocng0"
$7IG(#,',A-%(#
'
$,# $ ) ( *-
\OK"OT"JKT"UHKT"HKXINW OKHKTKT
6bRRKT$"JKT"2KJOKTQTUVL"JGHKO
GZL"SG]&";KOXYZTMXXYZLK"IG&"+'
-"AKQZTJKT"HOX"_ZS
1TXIN RGM"MKJWdIQY
NGRYKT&E KTT"JKW":TUVL
\OKJK W"RUXMKRGXXKT"\OWJ$
QUTYWURROKWKT"AOK$"JGa"JKW
2WKTTKW"GTMK_dTJKY"HRKOHY&
5X"\O WJ"KSVLUNRKT$"BcVLK"SOY
JKS"WOINYOMKT"4ZWINSKXXKW
OS"DKWNbRYTOX"_ZW"7WcaK"JKW
2WKTTXYKRRK"_Z"[KW\KTJKT$
ZS"_Z"[KWSKOJ KT$"JGa"JO K
6RGSSKT"ZS"JKT"BUVL"NKWZS
_dTMKRT&";GXXKT"AOK"JOK
:UINXYKRRKT"TOINY"SOY"RKKWKT
BcVLKT"KOTMKXINGRYKY0
[KW\KTJKT"AOK"QKOTK
7WORRMKWbYK"GZL"3W^XYGR%
:UINXYKRRKT&"5X"\OWJ
KSVLUNRKT$"JKT"8GZVYNGNGT
JKW"7GXRKOYZTM"ZTJ' UJKW"JKW
7GXLRGXINK"TGIN"JKS":UINKT
OSSKW"_Z"XINROKaKT&
Ykej vki
D%##1HL#8RFKIHOGHUQ#PLW#
WKHUPRHOHNWULVFKHU#>LFKHUXQJ#GLH#
3LQVFKDOWXQJ#QLFKW#OiQJHU#DOV#*-#
>HNXQGHQ#EHWiWLJHQ(#BHQQ#VLFK#GHU#
1UHQQHU#QDFK#*-#>HNXQGHQ#QLFKW#
HLQJHVFKDOWHW#KDW&#GDQQ#jIIQHQ#>LH #
GLH#?kU#GHV#=D XPHV#XQG#ZDUWHQ#>LH#
PLQGHVWHQV#HLQH#9LQXWH#EHYRU#>LH#
HUQHXW#GDV#3LQVFKDOWHQ#YHUVXF KH Q(
E%##1HL#8RFKIHOGHUQ#PLW#
4ODPPHQOjVFKXQJ#HLQHV#1UHQQHUV#
GHQ#HQWVSUHFKHQGHQ#6DKQ#
VFKOLHhHQ#XQG#PLW#GHP#3LQVFKDOWHQ#
PLQGHVWHQV#HLQH#9LQXWH#ZDUWHQ(
/D8=EA6II:C"&,A6H@:G6B>@"
-:>N:A:B:CI:
2HQ#>FKDOWHU#DXI#GLH#GHQ#
8RFKDQIRUGHUXQJHQ#HQWVSUHFKHQGH#
<RVLWLRQ#GUH KHQ(#1HDFKWHQ#>LH#
GDEHL&#GDh#PLW#VWHLJ HQG HU#CDKO #
DXFK#GLH#6HL\OHLVWXQJ#\XQLPPW&#
VLHKH#?DEHOOH#b0QZHQGXQJ#GH U#
3OHNWURNRFKSODWWHQc )#6H L\HOHPH QWH#
JODVNHUDPLN(#2LH#8RQWUROOHXFKWH#\HLJW#
GDV#3LQVFKDOWHQ#GHU#8RFKSODWWH#DQ(#
)6H"+DGI7:HI:=:C":>C:H"A:>8=I:C"
068=A:J8=I:CH">HI"7:>"7:HI>BBI:C"
/DCIGDAA:J8=I:C"6J8="C68="
'7H8=6AIJC<"9:H"'EE6G6IH"
6AA:G9>C<H"6AH"CDGB6A"NJ"
7:IG68=I:C%"
#$0EE(#+'+D ',%( #
5 Q"JSHJSI NIT "IJ"QTX
VZ JRFI TWJX"JS"QT X
R TIJQT X"HTS"XJLZWNI FI
YJWRTJQkH YWNHF"XJ"JKJHYo F
HTRT"JS"QTX"HFXT X"^F
I JXHWNYTX%"RFSY JS NJSIT"JQ
R FSIT"UWJXNTSF IT"F "KTS IT
JS "QF"UTX NHNmS"IJ"Rf] NRT
I ZWF SYJ"ZST X",(.
XJLZSI TX'"1Q"XTQYF W"QF
U JWWNQQF"FX JLZ WFWX J"VZ J"JQ
VZ JRFI TW"UJWR FSJ_HF
JS HJSI NIT '
<'2'0"&"XJ"FHTSXJOF"ZYNQNHJS
XFWY JSJX"IJ"INf RJYWT"FUY T
F "QTX "VZJR FI T WJX"J[NYF SIT
VZ J"QF "QQFR F"FQ"R f]NR T
XFQLF"IJQ"KTSI T"IJ"QFX
R NXRF X
&"ST"IJOFW"TQQFX"[F H lFX"HTS
JQ "KZJLT"JSHJSINI T
&"XT GWJ"QT X"UQF STX"3W^XYFQ
S T"ZXFW"FHHJX TWNT X"IJ
HTHHNmS"F"QF "U FWWNQQF'
1 Q"KNSFQ"IJ"QF"HTHHNmS"XJ"F&
HTSXJOF"HNJWW JS"JQ"LWNKT
U WNSHNUFQ"IJQ"YZ GT"^(T "IJ
Q F"GTRGTSF'
Korqtvcp vg
A%##EM#KAR#EMCILEQAR#CNM#REGTQIDAD#
SEQLNEKkCSQICA#MN#ACCINME#EK#
EMCEMDIDN#DTQAMSE#LfR#DE#+/#
REGTMDNR(#>I#DEROTkR#DE#+/#REGTMDNR#
EK#PTELADNQ#MN#RE#HA#EMCEMDIDN&#
ABQA#KA#OTEQSA#DEK#KNCAK#W#EROEQE#
ONQ#KN#LEMNR#TM#LIMTSN#AMSER#DE#
IMSEMSAQKN#DE#MTEUN(
B%##EM#KAR#EMCILEQAR#RIM#REGTQIDAD&# EM#
CARN#DE#PTE#RE#AOAGTEM#KAR#KKALAR#
DE#TM#PTELADNQ&#CIEQQE#KA#KKAUE#DE#
OARN#CNQQERONMDIEMSE#W#MN#IMSEMSE#
EMCEMDEQKN#DE#MTEUN#AMSER#DE#PTE#
HAWA#OARADN#TM#LIMTSN(
Rncecu"gnëevtkecu"1"Gngogpvqu"ec nghcevqtgu"
xkftkqegtãokequ"
8IQAQ#EK#OTnN#EM#KA#ONRICIoM#PTE#
CNQQERONMDA#A#KAR#MECERIDADER#DE#CNCCIoM&#
SEMIEMDN#EM#CTEMSA#PTE#A#TM#MpLEQN#
LAWNQ#CNQQERONMDE#LAWNQ#EQNGACIoM#
DE#CAKNQ&#UkARE#SABKA#_TSIKIXACIoM#OKACAR#
EKkCSQICAR`)EKELEMSNR#CAKEFACSNQER#
UIDQINCEQfLICNR(#9A#KTX#IMDICADNQA#
EMCEMDIDA#IMDICA#KA#ACSIUACIoM#DE#KA#OKACA(#
Fg"vqfcu"ocpgtcu"ug"eqpukfgtc"pqto cn"
rctc"ekgtvqu"vkrqu"fg"nãorctc."nc"
rgtukuvgpekc"fg"wpc"nwokpkuegpekc"nkigtc"
cüp"eqp"nqu"ocpfqu"fg ueqp gevcf qu0"
$7IG(#,',A-'-A%(#
[UUWMGGTJK"MK[GRRKT"OX
ZOYMKRKM J/"NUZJ"JK"QT UV
UTM K[KKW"+'-"XKIUTJKT"OT"JK
SG]OSGRK"XYGTJ
OTMKJWZQY&EGTTKKW"SKT"JK
QTUV"RUXRGGY$"SUKY"SKT"_ OIN
KW[GT"[KW_KQ KWKT$"JGY"JK"[RGS
GGT"HROPLY&
=&2& /" %"8KY"\UWJY"GGTMKWGJKT
VGTTKT"YK"MKHWZOQKT"SKY"KKT
JOGSKYKW"JOK"U[KWKKTQUSY"SKY
JK"HKYWKLLKTJK"HWGTJKW$
[UUWQUSKTJ"JGY"OT"JK
SG]OSZSXYGTJ"JK"[RGS
HZOYKT"JK"VGT"ZOY"XRGGY
%"RGGY"JK"QUUQVRGYKT"TOKY"SKY
RKMK"VGTTKT"OTMKXINGQKRJ
%"[KWS OPJY"NKY"MKHWZOQ"[GT
MWORMKWK O"UV"JK"3W^ XYGR%
QUUQVRGYKT&
=G"HKKOTJOMOTM"[GT"NKY"QUQKT
OX"NKY"MUKJ"US"UUQ"JK
NUULJQWGGT"[GT"NKY"X^XYKKS
KT'UL"[GT"JK"M GXLRKX"YK
XRZOYKT&
(:A6C<G>?@
D%##ELM#GH#EODGHQ#PHW#WKHUPR'HOHNWULVFKH#
EHYHLOLJLQJ#GH#LQVFKDNHOLQJ#QLHW#
ODQJHU#GDQ#*-#VHFRQGHQ#DFWLYHUHQ/#
DOV#GH#EUDQGHU#QD#*-#VHFRQGHQ#QLHW#
LV#LQJHVFKDNHOG&#GH#GHXU#YDQ#GH#
UXLPWH#RSHQHQ#HQ#PLQVWHQV#HHQ#
PLQXXW#ZDFKWHQ&#DOYRUHQV#RSQLHXZ#
WH#SUREHUHQ/
E%##ELM#GH#EODGHQ#\RQGHU#EHYHLOLJLQJ&#
LQ#JHYDO#YDQ#KHW#GRYHQ#YDQ#GH#
YODPPHQ#YDQ#HHQ#EUDQGHU&#KHW#
GHVEHWUHIIHQGH#NUDDQWMH#VOXLWHQ#
HQ#SDV#RSQLHXZ#SUREHUHQ#LQ#WH#
VFKD NHOHQ#QD#PLQVWHQV#HHQ#PLQXXW#
JHZDFKW#WH#KHEEHQ(
*A:@IG>H8=:"@DD@EA6I:C"&"
,A6H@:G6B>@"K:GL6GB>C<H$
:A:B:CI:C
2UDDL#GH#EHGLHQLQJVNQRS#QDDU#GH#
JHZHQVWH#NRRN#SRVLWLH&#HU#UHNHQLQJ#
PHH#KRXGHQG#GDW#HHQ#JURWHU#JHWDO#
FRU UHVSRQG HHUW#PHW#HHQ#JURWHUH#
WRHYRHU#YDQ#ZDUPWH&#\LH#GH#WDEHO#
bJHEUXLN#HOHNWULVFKH#NRRNSODWHQc#)#
YHUZDUPL QJV'HOHPHQWHQ#JODVNHUDPLN(#
2H#EUDQGHQGH#LQG LFDWRUYHUOLFK WLQJ#
JHHIW#LQVFKDNHOLQJ#YDQ#GH#SODDW#DDQ(#
-:I"KDDGI9JG:C "K6C"::C"!6JL:"
J>IHIG6A>C<"DD@"C6"J >IH8=6@:A>C<"K6C"
=:I"ID:HI:A">H"::C"CDGB66A"K:GH8 =>?CH:A"
7>?"7:E66A9:"HDDGI:C"@DCIGDA:A:BE?:H%"
#$0IE(#+'+D',%(#
VZJNRFITW"STX"RTIJQTX
HTR"INXUTXNYN[T"XJLZWFSiF
YJWRTJQkHYWNHT%"k"KJNYT"IF
RJXRF"KTWRF"VZJ"TX"HFXT X
FHNRF"IJXH WNYTX%
RFSYJSIT"HFWWJLFIT"T
GTYhT"SF"UTXNihT"IJ
Rf]NRT "UTW",(."XJLZSITX
1T"IJN]FW"IJ"ST[T"T"RFSl&
UZQT"HJWYNKNHFW&XJ"VZJ"T
VZJNRFITW"KNVZJ"FHJXT '
<'2'"&"@JHTRJSIF&XJ"T"ZXT
IJ"UFSJQFX "HTR"INgRJYWT
NLZFQ"FT"ITX"VZJNRFITWJX
J[NYFSIT"VZJ"F"HMFRF%
VZFSIT"JXYN[JW"FQYF%"XFNF"UTW
IJGFN]T"IFX"INYFX"UFSJQFX
&"ShT"IJN]FW"UFSJQFX"[F_NFX
XTGWJ"T"QZRJ"FHJXT
&"XTGWJ"UQFSTX"3W^XYFQ"ShT
ZYNQN_FW"FHJXXmWNTX"IJ
HT_JIZWF"e"LWJQMF'
?ZFSIT"YJWRNSTZ"IJ"HT&
_NSMFW%"XNL F"F"GTF"WJLWF"IJ
KJHMFW"NLZFQRJSYJ"F"YTWSJNWF
UWNSHNUFQ"IT"HTSIZYT"J(TZ
IT"GFQgT"IJ"LfX'
Korqtvcpvg
A%##MNR#OKAMNR#CNL#REGTQAMiA#
SEQLNEK kCSQICA#MhN#ACCINMAQ#
A#K IGAihN#ONQ#LAIR#DE#+/#
REGTMDNR(#>E#AOoR#+/#REGTMDNR#
N#PTEILADNQ#MhN#RE#ACEMDEQ&#
ABQIQ#A#ONQSA#DN#KNCAK#E#AGTAQDAQ #
OEKN#LEMNR#TL#LIMT SN#AMSER#DE#
SEMSAQ#DE#MNUN(
B%##MNR#OKAMNR#REL#REGTQAMiA& #EL#
CARN#EVSIMihN#DA R#CHALAR#DE#
TL#PTEILADNQ&#FECHAQ#A#SNQMEIQA#
CNQQERONMDEMSE#E#MhN#SEMSAQ#DE#
MNUN#N#ACEMDILEMSN#AMSER#DE#SEQ#
OARRADN#TL#LIMTSN(
Ejcrc u"gnëevtkecu"1"Gngogpvqu"
ceswgegfqtgu"xkftqegtäokequ"
,',A-%(#=NDAQ#N#OTMHN#EL#ONRIihN#
CNQQERONMDEMSE#e#LAMEIQA#DE#CNXIMHAQ(#;#
MpLEQN#LAIR#EKEUADN#CNQQERONMDE#A#TLA#
LAINQ#DIRSQIBTIihN#DE#CAKNQ(#@EJA#A#SABEKA#
RNBQE#A#_TSIKIXAihN#DE#CHAOAR#EKkCSQICAR`)#
EKELEMSNR#ACPTECEDNQER#UIDQNCEQgLICNR(#
3#KgLOADA#OIKNSN#ACEMDIDA#IMDICA#N#
ACEMDILEMSN#DA#CHAOA(#
Fg"swcnsw gt"ocp gk tc"ë"eq pukfgtcfq"
pqtocn."rctc"egtvqu "vkrqu "fg"
näorcfc."c"r gtocp ìpekc"fg"woc"
nkigktc"nwokpgueìpekc"oguoq "eqo"
qu"e qocpfqu"fgunkicfqu0"
$7IG(#
(
'- & " %+
:(4(#:EKK^TRN#DI#OI ARSQE#EKESSQICHE#)
EKELEMSI#QIRCAKDAMSI#UESQNCEQALICI#RI#
CNMRIGKIAMN#QECIOIEMSI#A#FNMDN#OIASSN#
CNM#DIALESQN #TGTAKE#N#KEGGEQLEMSE#
RTOEQINQE#A#PTEKKN#DEKKA#OIARSQA(
a# EUISAQE#SQABNCCHI#DI#KIPTIDN2#
OEQSAMSN#AD#EBNKKIXINME#AUUEMTSA#
N#CNLTMPTE#A#KIPTIDN#QIRCAKDASN#
QIDTQQE#K^EQNGAXINME#DI#CAKN QE2#
a# MNM#KARCIAQE#IMREQISE#K E#OIARSQE#
EKESSQICHE#A#UTNSN#N#CNM#OEMSNKE#N#
SEGALI#UTNSI2
a# AK#SEQLIME#DEKKA#CNSSTQA#QIONQSAQE#
KA#LAMNONKA#IM#ONRIXINME#DI #
CHITRN#E)N#DIRIMREQISN(#
C n"xgtk !e ctuk"fk "w pc"cpejg"o kpk oc"
htcv vwtc"fgn nc"uwr gt!ekg"fgn"
rkcpq "xgvtq egtcokeq"fk"e qvvw tc"
fkukpugtktg"koo gfkcvco gp vg"
n cnkogpvc|kq pg"gn gvvtk ec0
/0/"(+33$2'"+/4'/3$.'/4'
-$"-$.1 $&$"$-0)'/$#
:(1(.#BK HQ#XVLQJ#HOHFWULFDO# SODWHV #
)#KH DWLQJ#HOHPHQWV#YLWURFHUDPLF&#ZH #
UHFRPPHQG #"DW#ERWWRP#UHFL SLHQWV#
ZLWK#D#G LDPHWHU #HTXDO#RU#V OLJ KWO[#
ODUJHU#WKDQ#WKDW#RI#WKH #SODWH#LWVHOI(#
a#
DY RLG#OLTXLG#RYHU"RZ(#?KHUHIRUH& #
DIWHU#ERLOLQJ#RU #KHDWLQJ#OLTXLG V&#
UHGXFH#WKH#KHDW#RX WSXW/#
a#
GR#QRW#OHDYH#WKH#HOHFWULFDO#SODWHV#
RQ#Z LWK#HPSW[#SRWV#DQG#SDQV/#
a#
ZKHQ#FRRNL QJ#LV#!QL VKHG&#URWDWH#
WK H#NQRE#EDFN#LQWR#FORVLQJ# DQG )RU#
GLVFRQQHFWHG#SRVLWLRQ(#
.C"I=:":K:CI"D;":K:C"6"HA><=I"
;G68IJG:"DC"I=:"8DD@>C<"
K>IGD8:G6B>8"HJG;68:#"9>H8DCC:8I"
I=:":A:8IG>8"EDL:G"HJEEAM"
>BB:9>6I:AM%"
' 2 "1 2 6"56$4("$6"6+ ("
+ $/2 *( 1 " /$03#
:(4(#6AMR#K^ELOKNI#DER#OKAPTER#
kKECSQIPTER#)#EKkLEMSR#DE#CHATFFE#
UISQNCkQALIPTER#NM#@NTR#CNMREIKKE#DER#
QkCIOIEMSR#e#FNMD#OKAS#AUEC#KE#DIALjSQE#
kGAK#NT#KEGjQELEMS#RTOEQIETQ#e#CEKTI #
DE#KA#OKAPTE(#
a# kUISEQ#KER#DkBNQDELEMSR#DE#KIPTIDE2#
AIMRI#AOQjR#K^kBTKKISINM# NT#LlLE&#
PTAMD#KE#KIPTIDE#A#kSk#QkCHATFFk&#
QkDTIQE#K^kLIRRINM#DE#KA#CHAKETQ2#
a# ME#OAR#KAIRREQ#KER#OKAPTER#kKECSQIPTER#
BQAMCHk ER#e#UIDE#NT#AUEC#DER#
CARREQNKER#NT#DER#ONlKER#UIDER2#
a# e#CTIRRNM#SEQLIMkE&#SNTQMEQ#KE#
BNTSNM#JTRPT^e#KA#ONRISINM#DE#
FEQLESTQE#ES)#NT#DkCNMMEVINM(#
Uk"xqwu"eqpuvcvg|"n crrctkvkqp"f w pg"
!uuwtg."oìog"nëiêtg."uwt"nc"uwthceg"
fw"rncp"xkvtqeëtcokswg"fg"ewkuuqp."
fëdtcpejg|"kooëfkcvgogpv"n crrctgkn0"
/'"1$3"(+5'2"+/4'/3:.'/4"
-$"- $.1 '"*$- 0) 9/' #
71A
71E
$ HTS"LWNLQNF"IN"WNIZ_NTSJ
\OYN"WK JZIYOUT"MWOJ
F[JH"LWNQQJ"IJ"WkI ZHYNTS
SOY"@KJZ_OKWMOYYKW
HTS"WJON QQF"IJ"WJIZHHNmS
SKY"WKJZIYOKWUUXYKW
HTR"WJIJ"IJ"WJIZihT
6NL'"*"&"1GG'"*"&"1KG'"*
UJXHNJWF +)],+
HTWTSF d"+)&,+
WFUNIT d"+)&+/
XJRNWFUNIT d"*-&+)
FZXNQNFWNT d"*)&*-
$
LOXN *(]+*
\UQ `"*(%+*
LGXY `"*(%*.
XKSOLGXY `"),%*(
GZ]OROGW^ `")(%),
#
UTNXXTS +)],+
\TP d"+)&,+
WFUNIJ d"+)&+/
XJRNWFUNIJ d"*-&+)
FZ]NQNFNWJ d"*)&*-
$
LOXINVLGTTKR *(]+*
\UQ `"*(%+*
XINTKRR `"*(%*.
NGRHXINTKRR `"),%*(
NORLHWKTTKW `")(%),
#
UJXHNJWF +)],+
HTWTSF d"+)&,+
WfUNIT d"+)&+/
XJRNWfUNIT d"*-&+)
FZ]NQNFW d"*)&*-
$
[OX *(]+*
\UQ `"*(%+*
XTKR `"*(%*.
SGYOM"XTKR `"),%*(
XZJJKWVOY `")(%),
#
UJXHNJWF +)],+
HTWTF d"+)&,+
WfUNIT d"+)&+/
XJRN&WfUNIT d"*-&+)
FZ]NQNFW d"*)&*-
$
>91AB@5"5:5BB@9385
5;53B@931;"?;1B5A
>:1?C5"5:53B@9?C5A
:>38?;1BB5=
>:131A"5:c3B@931A
5;5:B@9A385":>>:?;1B5=
381>1A"5:c3B@931A
49A9<A5@9B=
AE9B3854">66
452@1<385
1275A381;B5B
45A3=<53B14=
C9B75A381:5;4
45A:9714=
6NL'"+"&"1GG'"+"&"1KG'"+
)
$,# $ ) ( *-
:(1(.#IkU#GHQ#5HEUDXFK#GHU#
3OHNWUR'8RFKSODWWHQ#)#6HL\HOHPHQWH #
JODVNHUDP LN#HPSIHKOHQ #ZLU#GLH#
AHUZHQGXQJ#YRQ?jSIHQ#PLW#JHUDGHP#
1RGHQ#PLW#JOHLFKHP#RGHU#QXU#ZHQLJ#
JUjhHUHP#2XUFKPHVVHU#DOV#GLH#
8RFKSODW WH#VHOEVW/#
a#
YHUPHLGHQ#>LH#GDV##kEHUODXIHQ#
YRQ#4OkVVLJNHLWHQ&#LQGHP#>LH#
QDFK#3UUHLFKHQ#GHV#>LHGHSXQNWHV#
RGHU#3UKLW\HQ#GHU#4OkVVLJNHLW#GLH#
BiUPH\XIXKU#\XUkFNVFKDOWHQ/#
a#
ODVVHQ#>LH#GLH#3OHNWUR'8RFKSODWWHQ#
QLFKW#RKQH?RSI#RGHU#PLW#OHHUHQ#
?jSIHQ#HLQJHVFKDOWHW/#
a#
:DFK#GHP#8RFKHQ#GUHKHQ#>LH#GHQ#
8QRSI#ZLHGHU#DXI#GLH#b0@>c'
<RVLWLRQ#\XUkFN(#
3D76A9": >C"2>7">C"9:G"<A6H@:G6B>@"
17:G!Q 8=:"H>8=I76G"L>G9#">HI"96H"
,:GQI"HD;DGI"KDB"5: GHD G<J C<HC:IN"
NJ"IG:CC:C%"
:(4(1#'#5TAMDN#RE#TSIKICEM#KAR#OKACAR#
EKkCSQICAR#)#EKELEMSNR#CAKEFACSNQER#
UIDQINCEQfLICNR#RE#ACNMREJAR#
CNMSEMEDNQER#DE#
FNMDN#KKAMN#CNM#DIfLESQN#
IGTAK#N#TM#ONCN#RTOEQINQ#
PTE#kK#DE#KA#OKACA(#
a# EUISEM#DERBNQDALIEMSNR#DE#
KmPTIDNR2#ONQ#KN#SAMSN#TMA#UEX#PTE#
RE#HAWA#KKEGADN#A#KA#EBTKKICIoM#N#A#KA#
CAKEFACCIoM#DEK#KmPTIDN#QEDTXCAM#KA#
EQNGACIoM#DEK#CAKNQ2#
a# MN#DEJEM#EMCHTFADAR#KAR#OKACAR#
EKkCSQICAR#UACmAR#N#CNM#RAQSEMER#N#
CACEQNKAR#UACmAR2#
a# AK#"MAK#DE#KA#CNCCIoM#UNKUEQ# A#CNKNCAQ#
EK#OTnN#EM#KA#ONRICIoM#DE#CEQQADN#W)N#
DERACSIUADN(#
Cn"xgtk!ectug"nc"oãu"ngxg"htcevwtc"
fgn"xkftk qegtãokeq."fgueqpgevct" fg"
kpogfkcvq"nc"cnkogpvcekõp"gnëevtkec0"
:(1(.'#1LM#KHW#JHEUXLN#YDQ#GH#HOHNWULVFKH#
SODWHQ#)#YHUZDUPLQJV'HOHPHQWHQ#
JODVNHUDPLN#ZRUGW#DDQJHUDGHQ#RP#
JHEUXLN#WH#PDNHQ#YDQ#SDQQHQ#PHW#HHQ#
SODWWH#ERGHP&#ZDDUYDQ#GH#GLDPHWHU#
JHOLMN#LV#RI#LHWV#JURWHU#GDQ#LV#DDQJHJHYHQ#
RS#GH#SODDW/#
d# ;YHUNRNHQ#YDQ#YORHLVWRI#YHUPLMGHQ/#
GDDURP#ELM#KHW#DDQ#GH#NRRN#UDNHQ#
RI#KRH#GDQ#RRN#ELM#YHUZDUPGH#
YORHLVWRIIHQ#GH#WRHYRHU#YDQ#ZDUPWH#
YHUPLQGHUHQ/#
d# GH#HOHNWULVFKH#SODWHQ#QLHW#LQJHVFKDNHOG#
ODWHQ#\RQGHU#SDQ#RI#PHW#HHQ#OHJH#SDQ#
RI#EUDDGSDQ/#
d# 1LM#EHHLQGLJLQJ#YDQ#KHW#NRNHQ#GH#
EHGLHQLQJVNQRS#QDDU#GH#JHVORWHQ#
HQ)RI#XLW JHVF KDNHOGH#SRVLWLH#EUHQJHQ(#
(>?"=:I"K6HIHI:AA:C"K6C"N:A;H"=:I"
@A:>CHI"BD<:A>?@:"H8=:JGI?:">C"
=:I"DEE:GKA6@"K6C"9 :"K:G<A6 6H9"
@:G6B>:@"@DD@EA66I"DCB>99:AA>?@"9:"
:A:@IG>8>I:>IHID:KD:G"DC9:G7G:@:C%"
:(4(1#<TAMDN#TRAQ#CHAOAR#
EKkCSQICAR#)#EKELEMSNR#ACPTECEDNQER#
UIDQNCEQgLICNR&#QECNLE MDARE#A#
TSIKIXAihN#DE#QECIOIEMSER#CNL#FTMDN#
OKAMN&#DE#TL#DIgLESQN#IGTAK#NT#KIGEIQA#
LEMSE#RTOEQINQ#AN#DA#CHAOA(#
a# EUISE#N#SQAMRBNQDAQ#DE#KmPTIDNR2#
ONQ#CNMREGTIMSE&#KNGN#PTE#FEQUET#
NT#APTECET#KmPTIDNR&#QEDTXA#A#
DIRSQIBTIihN#DE#CAKNQ2#
a# MTMCA#DEIVE#PTE#AR#CHAOAR#EKkCSQICAR#
OEQLAMEiAL#ACEMDIDAR#NT#CNL#
OAMEKAR#NT#FQIGIDEIQAR#UAXIAR(#
a# PTAMDN#ACABNT#DE#CNXI MHAQ&#AOAGTE#
E)N#DERKIGTE#N#FNQMN#QNDAMDN#
MNUALEMSE#N#OTMHN#M A#DE UIDA#
DIQECihN(#
Pq"ecuq"go"swg"ug"xgtk!swg"cvë"
oguoq"woc"rgswgpc"tcejc"pc"
uwrgthïekg"xkftqe gtäokec"fq"rn cpq"fg"
eq|gfwtc."fgunkswg"kogfkcvcogpvg"q "
crctgnjq"fc"eqttgpvg"gngevtkec0"
'
,("+ $/2*(1 /$03("1 ,&+ 6"
87 ")(56""%()(56,*(1 #"
/0"(+ ,$2"-$"-6.1$2$"
*$-;)'/$""+/4'/3$.'/4'#
.,-."1 ,(6",1 "' (
+ $/2 *((1 /$03#
5:5;5<B9"@9A31:41<B9
D5B@=35@1;939
D9B@>35@1<93"851B9=7
5;5<5=BA
5:c;5<BA"45"381C665
D9B@=3c@1;9?C5A
7;1A:5@1<9:
859F5;5<5=B5
5:5;5<B=A"31:5613B=@5A
D94@9=35@a;93=A
7;1A:5@1<9:
D5@E1@<9=7A%5;5<5=B5=
5:5;5<B=A
13?C5354=@5A
D94@=35@b;93=A
/80"(+5$2"%0."+/4'/3+&$&'"$
-7.1 $&$"& '"*$-0):/'0#
$ %
23
$ %$
2/02
$ %
2//2
$ (%
6OM&"*G"%"1HH"*G%"1LH&"*G
$%
23
$%$
2/02
$%
2//2
$(%
&)
5/4
% '"
1.
&)
1.
&)#
*
2; 0+ /9
%
$
#
"
%
$
#
"
%
$
#
"
%
$
#
"
%
$
#
"
%
$
#
"
%
$
#
"
%
$
#
"
!
;TR(!-!'!6MM(!-!'!6QM(!-
"!
.:-. 53 7;
" # $ %
" # $ %
" # $ %
" # $ %
" # $ %
" # $ %
" # $ %
" # $ %
!
;TR(!-!'!6MM(!-!'!6QM(!-
" # $ %
" # $ %
""
2; 0+ /9
" # $ % &
" # $ % &
" # $ % &
" # $ % &
!
" # $ % &
" # $ % &
" # $ % &
" # $ % &
;TR(!-!'!6MM(!-!'!6QM(!-
"#
.:-. 53 7;
" #
" "
&
" #
"
"
!
;TR(!-!'!6MM(!-!'!6QM(!-
"$
2; 0+ /9
"
;TR(!-!'!6MM(!-!'!6QM(!-
"%
.:-. 53 7;
" # $ %
" # $ % " # $ %
" # $ %
" # $ % " # $ %
" # $ %
"
;TR(!-!'!6MM(!-!'!6QM(!-
" # $ %
"&
Loading...