)25(,*1%2'<2%6758&7,21 3$57,,1',&$7256$1''$1*(5
$VNWKHSHUVRQ³$UH\RXFKRNLQJ"´
WKHKHDGORZHUWKDQWKHWUXQN
)%$20$1$*(0(17
6(5,2861(662))%$2 6XSSRUWWKHKHDGILUPO\E\KROGLQJWKHMDZ
'HWHUPLQHLIWKHSHUVRQFDQFRXJKRUVSHDN
5HVW\RXUIRUHDUPRQ\RXUWKLJKDQGGHOLYHUEDFN
$,1',&$7256$SDUWLDO 3HUIRUPWKHDEGRPLQDOWKUXVWPDQHXYHULISHUVRQ EORZVIRUFHIXOO\EHWZHHQWKHVKRXOGHUEODGHVZLWK
RUFRPSOHWHDLUZD\ FDQQRWFRXJKRUVSHDN
WKHKHHORI\RXUKDQG
REVWUXFWLRQLQGLFDWHV
D6WDQGEHKLQGSHUVRQDQGZUDS\RXUDUPVDURXQG 3ODFH\RXUIUHHKDQGRQWKHLQIDQW¶VEDFNDQG
WKDW)%$2PDQDJHPHQW
KLVZDLVW VDQGZLFKKLPEHWZHHQ\RXUKDQGV:LWKRQHKDQG
LVUHTXLUHG
E3ODFHDILVWHGKDQGRQKLVDEGRPHQWKXPEVLGH VXSSRUWWKHQHFNMDZDQGFKHVWZLWKWKHRWKHU
LQ*UDVS\RXUILVWZLWK\RXURWKHUKDQG VXSSRUWWKHEDFN
F*LYHDTXLFNXSZDUGWKUXVWLQWRWKHDEGRPHQ 7XUQWKHLQIDQWIDFHXSDQGSODFHKLPRQ\RXUWKLJK
ZLWKKLVKHDGORZHUWKDQWKHWUXQN
5HSHDWWKUXVWVXQWLOREMHFWLVH[SHOOHGRUWKHSHUVRQ
EHFRPHVXQFRQVFLRXV 3HUIRUPFKHVWWKUXVWVE\SUHVVLQJRQWKHORZHU
KDOIRIKLVVWHUQXPEXWDERYHWKH[LSKRLG
&RQWLQXHDGPLQLVWHULQJF\FOHVRIEDFNEORZVDQG
FKHVWWKUXVWVXQWLOREMHFWLVH[SHOOHGRUWKHLQIDQW
$SHUVRQZLWKSDUWLDOREVWUXFWLRQPD\KDYH³JRRGDLU
EHFRPHVXQFRQVFLRXV
H[FKDQJH´RU³SRRUDLUH[FKDQJH´
D,IJRRGDLUH[FKDQJHHQFRXUDJHWKHSHUVRQWR
FRXJK0RQLWRUDQGFDOO(06LIWKHREVWUXFWLRQ
'LVWULEXWLRQ86$UP\7UDLQLQJ SHUVLVWV
REVWUXFWLRQ
$FRPSOHWHREVWUXFWLRQSUHYHQWVR[\JHQIURP
+($'48$57(56'(3$57 0(172)7+($50<
HQWHULQJDQGOHDYLQJWKHYLFWLP¶VOXQJV7KHYLFWLP
FDQQRWVSHDNRUFRXJK
$SULO
%'$1*(58QFRQVFLRXVQHVVDQGGHDWKPD\UDSLGO\
,IYLFWLPLVSUHJQDQWRUREHVHSHUIRUPEDFNZDUGWKUXVWV
6XSHUVHGHV*7$
RFFXU RQWKHPLGGOHRIWKHVWHUQXPEUHDVWERQH
3$57,99,&7,0)281'81&216&,286
3$57,,,9,&7,0%(&20(681&216&,286
,IWKHDLUZD\LVVWLOOEORFNHGSHUIRUPWR
$$'8/7$1'&+,/'
DEGRPLQDOWKUXVWVVHH3DUW,OO$
$$'8/7$1'&+,/'
(VWDEOLVKXQUHVSRQVLYHQHVVE\JHQWO\VKDNLQJWKH
3RVLWLRQWKHSHUVRQIDFHXS 3HUIRUPDWRQJXHMDZOLIWDQGILQJHUVZHHSVHH3DUW
SHUVRQDQGVKRXWLQJ³$UH\RXRND\"´
,OO$
&DOOIRUKHOS
&DOOIRUKHOS
$WWHPSWWRYHQWLODWH
2SHQWKHDLUZD\XVLQJWKHWRQJXHMDZOLIW3HUIRUPD
5ROOWKHSHUVRQRQWRKLVEDFNLIQHFHVVDU\7XUQWKH
ILQJHUVZHHSWRUHPRYHWKHREMHFW'RQRWSHUIRUPD ,IWKHDLUZD\LVVWLOOEORFNHGUHSHDWVWHSVWKURXJK
YLFWLPDVDXQLW
ILQJHUVZHHSZLWKDFKLOGXQOHVV\RXVHHWKHREMHFW XQWLOWKHREMHFWLVH[SHOOHGRU\RXDUHDEOHWR
2SHQWKHDLUZD\XVLQJWKHKHDGWLOWFKLQOLIWPHWKRG YHQWLODWHWKHYLFWLP
/22./,67(1DQG)((/IRUEUHDWKLQJ
%,1)$17
E3ODFHWKHKHHORIRQHKDQGDJDLQVWWKHSHUVRQ¶V
7DSRUJHQWO\VKDNHWKHLQIDQW
DEGRPHQVOLJKWO\DERYHWKHQDYHODQGZHOO
&DOOIRUKHOS
EHORZWKHEUHDVWERQH3ODFH\RXURWKHUKDQG
RYHUWKHILUVWKDQG 3RVLWLRQWKHLQIDQWIDFHXS
F3HUIRUPWRTXLFNXSZDUGWKUXVWV 2SHQWKHDLUZD\XVLQJWKHKHDGWLOWFKLQOLIWPHWKRG
5HSHDWVWHSVWKURXJKXQWLOREMHFWLVH[SHOOHGRU
IDOOV
/22./,67(1DQG)((/IRUEUHDWKLQJ
%,1)$17 ,IWKHLQIDQWLVQRWEUHDWKLQJJLYHVPDOOEUHDWKV
$WWHPSWWRYHQWLODWHJLYHIXOOEUHDWKV
,IWKHDLUZD\LVEORFNHGUHSRVLWLRQWKHKHDGDQGWU\
,IWKHDLUZD\UHPDLQVREVWUXFWHGFKHVWGRHVQRWULVH
&DOOIRUKHOS WRYHQWLODWHDJDLQ
DQGIDOOSHUIRUPDEGRPLQDOWKUXVWV
3ODFHWKHLQIDQWIDFHXS ,IWKHDLUZD\LVVWLOOEORFNHGJLYHEDFNEORZVDQG
D6WUDGGOHWKHYLFWLP¶VWKLJKVLIYLFWLPLVDQDGXOW
3HUIRUPWKHWRQJXHMDZOLIW3HUIRUPDILQJHUVZHHS FKHVWWKUXVWVVHH3DUW,O%
RUIHHWLIYLFWLPLVDFKLOG
RQO\LIWKHREMHFWLVVHHQ 3HUIRUPDWRQJXHMDZOLIWDQGORRNLQWRWKHPRXWK
$WWHPSWWRYHQWLODWHWKHLQIDQW 5HPRYHWKHIRUHLJQERG\LI\RXVHHRQH
\RXDUHDEOHWRYHQWLODWHWKHLQIDQW YHQWLODWHWKHLQIDQW