32:(575'0;
32:(57,'0;
&RQWHQWV
*HQHUDO'HVFULSWLRQ
&KDUDFWHULVWLFV
0HDVXUHPHQWV
,QVWDOODWLRQ
&RQQHFWLRQV
3URJUDPPLQJDQGZD\RIZRUNLQJ
0DLQWHQDQFH
0RVW&RPPRQ3UREOHPV
6WDWHPHQWRI&RPSOLDQFH
*HQHUDO'HVFULSWLRQ
7KHGLJLWDOGLPPHUIDPLO\32:(5
75'0;DQG32:(5
7,'0;KDYHEHHQGHEHORSHGIRU
ZRUNLQJLQWKHPRVWKDUGFRQGLWLRQV
LQIL[RUPRYLOLQVWDOODWLRQV
,QERWKFDVHVFDQEHPDQXIDFWXUHG
LQWZRYHUVLRQRQHIRU§UDFNDQG
RWKHUWUDQVSRUWDEOHIRUWRXULQJ
DSSOLFDWLRQV
$WVDPHWLPHFDQEHSURGXFHGZLWK
WZRW\SHVRISRZHUFRQQHFWRUV
7HUPLQDODQG+DUWLQJ
7KHSRZHUXQLW3RZHU75'0;
KDV[N:FKDQQHOVDQG3RZHU
7,'0;KDV[N:FKDQQHOV
&KDUDFWHULVWLFV
‡$QDORJLQSXWVLJQDO9GFRU
GLJLWDOLQSXWWKURXJK'0;
‡&DQZRUNLQVWDQGDORQHVHOHFWLQJ
RQHRIWKHFKDVHUVLQFOXGHGDV
VWDQGDUG
‡)RXUW\SHVRIUHVSRQVHFXUYHVFDQ
EHVHOHFWHGIRUHDFKRQHRIWKH
FKDQQHOVOLQHDOZLWKYROWDJHOLQHDO
ZLWKOLJKWIOXRUHVFHQWDQG212))
‡7HVWIXQFWLRQIRUFKHFNLQJWKHVLJQDO
DQGSRZHULQVWDOODWLRQ
‡$XWRPDWLFWXUQRQRIWKHIDQ
GHSHQGLQJRQWKHLQWHUQDO
WHPSHUDWXUH
‡$XWRPDWLFFRQWURORIWKHPDLQV
IUHFXHQF\
‡2YHUYROWDJHSURWHFWLRQ
‡)URQWDO/&'GLVSOD\IRUGLVSOD\LQJ
DOOLQIRUPDWLRQVWKDWVXSSO\WKHXQLW
DFFRUGLQJZLWKWKHGLIIHUHQWHYHQWV
WKDWFDQKDSSHQDQGIRU
SURJUDPPLQJDOOWKHIXQFWLRQV
‡,QGHSHQGHQWSURWHFWLRQSHUFKDQQHO
WKURXJKSROHFLUFXLWEUHDNHUSKDVH
QHXWUDO
3RZHU75'0;8VHU©V0DQXDO
5HI$
7HFKQLFDO'DWD
3RZHUVXSSO\
0LQLPXPFKDUJHSHUFKDQQHO
0D[LPXPFKDUJHSHUFKDQQHO
0D[LPXPWRWDOFKDUJH
5LVHWLPH
&LUFXLWEUHDNHU
$QDORJVLJQDOORDG
$QDORJLQSXWFRQQHFWRU
'0;LQSXWFRQQHFWRU
)URQWSDQHOPHDVXUHPHQWV
:LQGRZWRIL[
'HSWK
1HWZHLJWK
/LNHDJHQHUDOSURWHFWLRQLWV
FRQYHQLHQWWRXVHDFLUFXLWEUHDNHURI
SROHV$PSEHWWHUZLWKFXUYH
W\SH'IRUFRQHFWLRQ9WULSKDVH
DQGD SROHV$PS&XUYH'WRR
IRU9WULSKDVHFRQHFWLRQ
32:(575
32:(5
7,
Y+]PRQRSKDVHWULSKDVH
Y+]WULSKDVH
:
:
:
:
:
$PS
$PS
PVJ
P$SHUFKDQQHO
6XE'SROHV
;/5SROHV
[PP
[PP
.J
PP
.J
5HJDUGLQJWKH*),'LIIHUHQWLDO
FXUUHQWWULSSLQJGHYLFHLQILUVWFDVHLW
ZLOOEHXVHGDSROHV$PSDQG
WULSSLQJFXUUHQWRI$PSDQGLQ
VHFRQGFDVHDSROHV$PSDQG
WULSSLQJFXUUHQWRI$PS
0HDVXUHPHQWV
)LJ
3RZHU75'0;8VHU©V0DQXDO
5HI$
,QVWDOODWLRQ
7KHSRZHUXQLWV3RZHU75'0;
DQG3RZHU75'0;FDQEH
PRXQWHGLQDUDFNILJ$RU
VXSSRUWHGRQDQ\SODLQVXUIDFH
EDVLFDOO\ZLWKWKHWUDQVSRUWDEOH
YHUVLRQILJ%,QERWKFDVHV\RX
KDYHWRWDNHLQFRQVLGHUDWLRQWKDWWKH
]RQHPXVWEHZHOOYHQWLODWHGIRU
)LJ$
HYDFXDWLQJWKHKHDWWKDWLVSURGXFHG
GXULQJWKHZRUNLQJ
1HYHUVKRXOGEHFORVHGWKHKROHVIRU
OHWWLQJWKHHQWUDQFHRIWKHDLULQIURQW
SDQHOXSSHUFRYHUDQGORZHUFRYHU
QHLWKHUWKHRXWSXWKROHVIDQ
)LJ%
&RQQHFWLRQV
7HUPLQDORXWSXWV
,QSXWRXWSXW'0;
+DUWLQJWRORDGV
,QSXW2XWSXW'0;
)LJ7HUPLQDO RXWSXWV
$QDORJLQSXWVLJQDO
0DLQVVXSSO\WHUPLQDOV
)LJ+DUWLQJRXWSXWV
$QDORJLQSXW
&HWDFIRUPDLQVLQSXW
3RZHU75'0;8VHU©V0DQXDO
5HI$
&RQQHFWLRQVWRSRZHUPDLQV
7KHSRZHUXQLWFDQEHFRQQHFWHGWR
DWULSKDVHFRQQHFWLRQZLWKQHXWUDO5
671DQGHDUWKZLWK9EHWZHHQ
SKDVHVDQG9EHWZHHQSKDVH
DQGQHXWUDORUD9PRQRSKDVH
FRQQHFWLRQKDYLQJLQWKLVODVWFDVHWR
FRQQHFWWKHWUHHLQSXWV567WRWKH
SKDVH6HHILJ\
7KHSRZHUXQLWLVSURWHFWHGDJDLQVW
DQ\EDGFRQQHFWLRQDVFDQEHWR
VXSSO\9EHWZHHQLWVQHXWUDODQG
SKDVH,QWKLVFDVHWKHSRZHUXQLW
GRQWVWDUWXSDQG ZLOOGLVSOD\WKH
975,3+$6(6833/<
$75,3+$6(&211(&7,21
0DLQVVXSSO\956 957 967 9
951 961 971 0$,166833/<
5
6
7
1
32:(581,7
5
6
7
1
975,3+$6(6833/<
$75,3+$6(&211(&7,21
0DLQVVXSSO\956 967 957 9
951 961 971 9
32:(581,7
0$,166833/<
5
5
6
6
7
7
1
1
1RWH$OVRFDQEHVKRUWFLUFXLWHGWKH
WHUPLQDOV57RU67RIWKHSRZHU
XQLW
PHVVDJH29(592/7$*(GXULQJD
IHZVHFRQGVDQGWKHQGLVDSSHDU
,QWKLVFDVHSURFHHGWRFRQQHFWWKH
SRZHUXQLWLQWKHULJKWZD\DQGWXUQLW
RQDJDLQ
127(,WVYHU\LPSRUWDQWIRUWKH
ULJKWZRUNLQJRIWKHXQLWVWRKDYHD
JRRGHDUWKFRQQHFWLRQ,QRWKHU
FDVHLWFRXOGKDYHYROWDJH
GLIIHUHQFHVWKDWFRXOGGDPDJHWKH
XQLWV
%02123+$6(&211(&7,21
0DLQVVXSSO\956 957 967 9
951 961 971 0$,166833/<
5
6
7
1
32:(581,7
5
6
7
1
1RWH&DQEHXVHGWKHSKDVHV6DQG7
WRR
%02123+$6(&211(&7,21
0DLQVVXSSO\956 967 957 9
951 961 971 9
32:(581,7
0$,166833/<
5
5
6
6
7
7
1
1
1RWH&DQEHXVHGWKHSKDVHV57RU
67WRR
'0;VLJQDOFRQQHFWLRQ
)LJXUH
7KHFDEOHVXVHGVKRXOGEHEUDLGHG
SDLUDQGVKLHOGHGORZFDSDFLW\ZLWK
DW\SH$:*PP PLQLPXPFDOLEUHDQGDQLPSHGDQFH
RI2KPV3OHDVHUHPHPEHUWKDW
WKHW\SHRIFDEOHXVHGVLJQLILFDQWO\
FRQGLWLRQVDQ\SUREOHPVWKDWPD\
DULVHVXEVHTXHQWO\GXHWRSDUDVLWHV
FRPLQJWKURXJKRQWKHOLQH6LPLODUO\
'212786(VKLHOGHGFDEOHVRIWKH
W\SHXVXDOO\XVHGIRUFRQQHFWLQJ
PLFURSKRQHV
7KHFDEOHVVKRXOGEHFRQQHFWHGLQ
VXFKDZD\WKDWSLQRIWKHPDOH
FRQQHFWRUDWRQHHQGFRLQFLGHVZLWK
SLQRIWKHIHPDOHDWWKHRWKHUDQG
VRRQUHVSHFWLYHO\IRUSLQVDQG
SLQVDQGDUHQRWXVHG
)LJXUH
7KHVFUHHQFRQQHFWHGWRSLQ
VKRXOG127EHLQFRQWDFWZLWKWKH
FDVLQJRIWKHFRQQHFWRU
7KHFRQQHFWLRQVKRXOGEHPDGH
H[DFWO\DVVKRZQLQ)LJXUH<RX
ZLOOVHHWKDWDUHVLVWDQFHRI
2KPVØ:KDVEHHQLQVWDOOHGDWWKH
HQGRIWKHOLQHEHWZHHQSLQVDQG
7KLVFRUUHVSRQGVWRWKHHQGRIOLQH
FRQQHFWRUVXSSOLHGZLWKDOO
SURMHFWRUV
$PD[LPXPRISURMHFWRUVPD\EH
OLQNHGXSWRDVLQJOHOLQHZLWKRXW
XVLQJDQDPSOLILHUDQGWKHPD[LPXP
FDEOHOHQJWKDVIDUDVWKHODVW
SURMHFWRULV.PDOWKRXJKLWLV
DGYLVDEOHWRXVHDQDPSOLILHUIRU
FDEOHVRIRYHUPHWUHV
7KHFRQQHFWLRQVKRZQLQ)LJXUHLV
,1&255(&7 LIDQLQVWDOODWLRQWKDW
GLYLGHVLQWRVHYHUDOEUDQFKHVLV
UHTXLUHG63/,77(56PXVWEHXVHG
7KHVHDUHHOHPHQWVZKLFKGLVWULEXWH
DQGDPSOLI\DVLQJOHVLJQDOLQWR
VHYHUDOLGHQWLFDORQHVDORQJGLIIHUHQW
OLQHVVHH)LJXUH
)LJXUH
;/5SLQW\SHFRQQHFWRUVVKRXOGEH
XVHG7KHVLJQDOIURPWKHFRPPDQG
VKRXOGEHFRQQHFWHGWRWKH'0; ,1
LQSXWDQGWKHRXWJRLQJVLJQDOWR
DQRWKHUSURMHFWRUWR'0;287,Q
WKHODVWSURMHFWRUWKHHQGRIOLQH
UHVLVWDQFHVKRXOGEHFRQQHFWHGWR
WKLVRXWSXW
3URJUDPPLQJ 3RZHU75'0;
3RZHU7,'0;
&RQQHFWWKHXQLWWRPDLQV
)ROORZLQJPHVVDJHDSSHDUV
32:(575
9
3UHVV(;,7IRUDFFHVVWR0DLQ0HQX
7KHWZRGLJLWVQH[WWRHDFKFKDQQHOJLYHLQIRUPDWLRQDERXWWKHDFWXDOOHYHO
UHFHLYHG
75
,1387
3UHVVWKHNH\VHYHUDOWLPHVXQWLOVHOHFWWKH&21),*RSWLRQ
&21),*
&+$11(/
3UHVV6725(
&RQILJWKHZD\RIZRUNLQJRIHDFKFKDQQHORIWKHXQLW
$:LWKDQG¤NH\VVHOHFWWKH
FXUYH\RXZDQWXVHWKHQXPEHU
RIWKHFRQILJFKDQQHOZLOODSSHDU
RQWKHOHIWVLGHRIWKHGLVSOD\
3UHVV6725(
,IZHFKRRVH/,17WKHRXWSXW
UHVSRQVHZLOOEHOLQHDODFFRUGLQJ
ZLWKWKHLQSXWYROWDJH
,IZHFKRRVH212))WKHRXWSXWZLOOEH
9ZKHWKHUWKHLQSXWYROWDJHLVXQGHU
RIWKHLQSXWYROWDJHDQG9
ZKHWKHUWKHLQSXWLVRYHUWKH
,IZHFKRRVH/,1/WKHRXWSXWZLOOEH
OLQHDODFFRUGLQJZLWKWKHOLJKW
,IZHFKRRVH)/82ZHFDQFRQQHFWD
IORXUHVFHQWODPSOLNHORDGZLWKWKH
FRUUHVSRQGLQJLQWHUIDFH
/,17
212))
3RZHU75'0;8VHU©V0DQXDO
5HI$
%:LWKWKHNH\FKRRVHEHWZHHQ'0;GLJLWDOLQSXWDQG$1$/2*DQDORJ
LQSXWIRUWKLVFKDQQHO3UHVV6725(
02'2
'0;
&,I\RXFKRRVHGLJLWDOPRGHVHOHFWWKH'0;FKDQQHOWKDWVJRLQJWRXVHIRU
FRQWUROOLQJWKHRXWSXWE\SUHVVLQJWKHDQG¤NH\V7KHQSUHVV6725(
'0;&+$11(/
'6HOHFWWKHPLQLPXPYDOXHIRUWKHRXWSXWZKHQWKHLQSXWLVDWORZHUHQG
SUHVVLQJWKHDQG¤NH\V7KDWVXVHGIRUSUHKHDWLQJWKHODPSVDQG
LPSURYLQJLWVWKHUHDFWLRQWLPH3UHVV6725(
0,1
0$;))
(6HOHFWWKHPD[LPXPYDOXHIRUWKHRXWSXWSUHVVLQJDQG7KDWVXVHGIRU
LQFUHDVLQJWKHODPSOLIH
3UHVV6725(IRUVWRULQJWKHLQIRUPDWLRQRIWKLVFKDQQHODQGPDNHWKHVDPH
IRUWKHUHVWRIFKDQQHOV
0,1
0$;))
3UHVVWKHNH\VHYHUDOWLPHVXQWLO\RXUHDFKWKH7(67RSWLRQDQGSUHVV
6725(
75
,1387
3UHVV6725(IRUYHULI\LQJWKHPDLQVIUHTXHQF\
7(67
)5(4
3UHVV(6&IRUUHWXUQLQJWR7(67PHQX
)5(4
+]
3UHVVNH\XQWLOVHOHFWWKH0$18$/PHQXDQGSUHVV6725(
7(67
)5(4
:LWKDQG¤NH\VFKRRVHWKHFKDQQHOWRWHVWDQGSUHVV6725(
&KDQJHWKHOHYHORIRXWSXWSUHVVLQJDQG$IWHUILQLVKLQJWKHWHVWSUHVV(;,7
&+$11(/
',5(&7
,I\RXZDQWWRFKHFNWKHGLJLWDO'0;LQSXWVHOHFW'0;DQGSUHVV6725(
7(67
)5(4
2QVFUHHQZLOODSSHDUWKHQXPEHURIGLJLWDOFKDQQHOVUHFHLYHGRQWKHSRZHU
XQLW7KDWYDOXHPXVWQRWFKDQJH
3$&.'0;
,IWKH'0;LQSXWLVQRWFRQQHFWHGRUGHWHFWVVRPHNLQGRIHUURULQWKH
LQIRUPDWLRQZLOODSSHDU12'(7(&7PHVVDJH
3$&.'0;
12'(7(&7
3UHVV(;,7VHYHUDOWLPHVIRUUHWXUQLQJWRPDLQPHQX
,I\RXZDQWWRPDNHDFKDVHZLWKWKHRXWSXWVVHOHFWWKH&21),*PHQX
SUHVVLQJNH\VHYHUDOWLPHVDQGWKHQSUHVV6725(
75
,1387
&KRRVHWKH&+$6(PHQXSUHVVLQJWKHVHYHUDOWLPHVWKHQSUHVV6725(
&21),*
&+$11(/
3RZHU75'0;8VHU©V0DQXDO
5HI$
6HOHFWWKHQXPEHURIFKDVH\RXZDQWWRODXQFKRSWLRQVSUHVVLQJ DQG¤
DQGSUHVV6725(,I\RXZDQWWRVWRSWKHFKDVHVHOHFW2))DQGWKHQSUHVV
6725(
180&+$6(
6HOHFWWKHWLPHUDQGIDGHUWLPHVSUHVVLQJ DQG¤ DQG6725(7KHVHWLPHV
PXVWEHEHWZHHQDQG:KHQILQLVKLQJSUHVV(;,7IRUUHWXUQLQJWR
PDLQPHQX
7,0(5
)RUEORFNLQJWKHNH\VVHOHFW&21),*SUHVVLQJWKHNH\VHYHUDOWLPHVDQG
WKHQ6725(7KDWIXQFWLRQLWVXVHIXOIRUDYRLGLQJWKDWVRPHRQHQRWLQYROYHGZLWK
WKHSRZHUXQLWFRXOGFKDQJHWKHFRQILJXUDWLRQ
75
,1387
&KRRVH%/.SUHVVLQJNH\VHYHUDOWLPHVDQGWKHQ6725(
&21),*
&+$11(/
)RUKDYLQJWKHNH\VDFWLYHDJDLQSUHVVDOONH\VDWVDPHWLPH
%
)RUUHVHWWLQJWKHSRZHUXQLWSUHVV(;,7DQG6725(DWVDPHWLPHZKLOH\RX
WXUQRQWKHSRZHUXQLW$OOWKHLQIRUPDWLRQDERXWFKDQQHOVFKDVHUVWLPHVHWFZLOO
EHHUDVHG
6<67(05(6(7
5(67$57
0DLQWHQDQFH
5HJXODUFOHDQLQJ
7RSUHYHQWWKHEXLOGXSRIGXVWDQG
GLUWZKLFKPD\LPSDLUWKHSURSHU
RSHUDWLRQRIWKHHTXLSPHQWWKLV
VKRXOGEHFOHDQHGUHJXODUO\
)RUFOHDQLQJXVHDVRIWVOLJKWO\GDPS
FORWKLIWKHHTXSPHQWLVYHU\GLUW\
DSSO\DOLWWOHOLTXLGGHWHUJHQWWRWKH
FORWK
:$51,1*'RQRWXVHVROYHQWVRU
SURGXFWVFRQWDLQLQJDOFRKRO0DNH
VXUHWKDWQROLTXLGVJHWLQVLGHWKH
HTXLSPHQW
3RZHU75'0;8VHU©V0DQXDO
5HI$
0RVWFRPPRQSUREOHPV
3UREOHPV
8VXDO&DXVH
6ROXWLRQ
3RZHUXQLWGRQW
JLYHUHVSRQVHLQ
VRPHFKDQQHOV
$GGUHVVLQJSUREOHP
0DNHWKHDGGUHVVLQJRIFKDQQHOVLQ
IUHHDGGUHVVHV
8QLWGRQWVWDUW
1RFXUUHQWUHDFKLQJ
HTXLSPHQW
%DGLQVWDOODWLRQLQ
'0;OLQH
7KHXQLWGRQWZRUN 1RFKDVHUVHOHFWHG
LQDXWRQRPRXV
PRGH
1R)$'(5DQG
7,0(5VHOHFWHG
&KHFNPDLQVFRQQHFWLRQ
6HHSURJUDPPLQJVHFWLRQSRLQW
&KHFNW\SHRIFDEOHXVHG
FRQQHWLRQVFRQQHFWRUVLQVWDOODWLRQ
DQGRKPWHUPLQDWRUUHVLVWRU
6HHVHFWLRQ3URJUDPPLQJDQG
ZD\RIZRUNLQJ
6HHVHFWLRQ3URJUDPPLQJ
DQGZD\RIZRUNLQJ
,IWKHSUREOHPSHUVLWVGHVSLWHWKHVHPHDVXUHVSOHDVHFRQWDFWZLWK)5(61(/
6$V7HFKQLFDO6HUYLFH
7HOI
7HOI
)D[
)5(61(/6$
'&
67$7(0(172)&203/,$1&(
:HKHUHE\VWDWHWKDWWKHSURGXFW
%UDQG
0RGHO
)(&+$
67521*
32:(575'0;
32:(57,'0;
<HDURIFRQVWUXFWLRQ &RQIRUPVWRGLUHFWLYHLQUHVSHFWRIWKHVDIHW\UHTXLUHPHQWVIRUPDWHULDO
LQWHQGHGIRUXVHZLWKLQVSHFLILFYROWDJHOLPLWVDQGWRGLUHFWLYHLQUHVSHFW
RIWKHHOHFWURPDJQHWLFFRPSDWLELOLW\RIHTXLSPHQWV\VWHPVDQGLQVWDOODWLRQV
6ROHDGPLQLVWUDWRU
$QJHO7RUUHFLOODV5HGyQ
)UHVQHO6$
3URYLGHQFLD
%DUFHORQD
%DUFHORQD-DQXDU\ VW
7HOI
)D[
(PDLOVWURQJ#VWURQJHV
,QWHUQHWKWWSZZZVWURQJHV
3RZHU75'0;8VHU©V0DQXDO
5HI$