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`<C:<!Z$:FP! X_T!BG<B!?<C!N@!LJ@I!BD!A>DM:I@!E:@;I)N<J@I!I:>@?B);@<>C:CF!@OA@>:@C?@J!ED>!JBLI@CBJ!:C!<! M<>:@BH!DE!:CB>DIL?BD>H!1@D;DFH!<CI!':N@><;!+BLI:@J!?DL>J@JP!.G:J!BHA@!DE!=DI@;!?<C!N@! ?DCJB>L?B@I!DC!C@<>;H!<CH!LC:M@>J:BH!?<=ALJ!A>DM:I:CF!<C!<??L><B@!=DI@;!DE!>@<;!E:@;I! ;D?<B:DCJ!<>DLCI!BG@!RD>;IP!%C!BG:J!R<H!%!GDA@!BD!A>DM:I@!<!R<H!ED>!JBLI@CBJ!BD!N@BB@>! LCI@>JB<CI!<!ELCI<=@CB<;!@<>BG!J?:@C?@!?DC?@ABT!BG@!A>:C?:A;@!DE!LC:ED>=:B<>:<C:J=T!NH! B><CJED>=:CF!<C!:CI:>@?B!;@<>C:CF!<?B:M:BH!:CBD!<!=D>@!I:>@?B!<CI!E:@;I)N<J@I!<?B:M:BHP!*H! ID:CF!JD!%!GDA@!BD!A>DM:I@!<!N;L@A>:CB!ED>!DBG@>!L>N<C!LC:M@>J:B:@J!BD!A>DM:I@!J:=:;<>! DAAD>BLC:B:@J!BD!JBLI@CBJP! .G:J!=DI@;!<CI!BG@!E:@;I)N<J@I!I:>@?B!;@<>C:CF!<?B:M:B:@J!<JJD?:<B@I!R:BG!:B!?DL;I!N@! LJ@I!:C!<!N>D<I!><CF@!DE!?;<JJ@J!<B!50--P!%!:CB@CI!BD!LJ@!:B!:C!=H!'*+.!KK"X!<CI!1@D;DFH! "K"W!?DL>J@JT!NDBG!DE!RG:?G!J<B:JEH!F@C@><;!@IL?<B:DC!>@SL:>@=@CBJP!%C!?DCM@>J<B:DCJ!R:BG! (>P!+?DBB!3:AA@CJB@@;!G@!G<J!@OA>@JJ@I!<C!:CB@>@JB!:C!LJ:CF!BG@!=DI@;!:C!G:J!'*+.!KK"X!<CI! 1@D;DFH!X"^W!?DL>J@JP!.G@!=DI@;!?DL;I!<;JD!N@!:C?D>AD><B@I!:CBD!1@D;DFH!"KWWT!<CDBG@>! F@C@><;!@IL?<B:DC!?DL>J@T!<J!<!BDD;!BD!B@<?G!BG@!A>:C?:A;@!DE!LC:ED>=:B<>:<C:J=P!! ! ! ! !! ^! +)%,&'%-&,!.,/),0! 4M@>!BG@!;<JB!J@M@><;!I@?<I@J!BG@>@!G<J!N@@C!<C!:C?>@<J:CF!I@=<CI!ED>!>@ED>=!:C! LCI@>F><IL<B@!J?:@C?@!@IL?<B:DCT!<CI!:C!A<>B:?L;<>T!<=A;:E:?<B:DC!DE!LCI@>F><IL<B@!>@J@<>?G! @OA@>:@C?@J!Z0<B:DC<;!,@J@<>?G!-DLC?:;T!KWWX[!KWWK[!"]]\[!0<B:DC<;!+?:@C?@!$DLCI<B:DCT! "]]\[!/D;A@T!"]b^_P!!&<?G!DE!BG@J@!?>:B:SL@J!@=AG<J:`@I!BG@!:=AD>B<C?@!DE!<?B:M@;H!:CMD;M:CF! JBLI@CBJ!:C!BG@!;@<>C:CF!A>D?@JJ!BD!E<?:;:B<B@!I@@A@>T!=D>@!;DCF!;<JB:CF!;@<>C:CFP!#?B:M@! ;@<>C:CF!?<C!B<V@!<!M<>:@BH!DE!ED>=J!Z2:?G<@;!<CI!2DI@;;!KWWX_T!NLB!?<C!N@!JL==<>:`@I!<J!<! A>D?@JJ!NH!RG:?G!JBLI@CBJ!@CF<F@!:C!<?B:M:B:@J!BG<B!>@SL:>@!BG@=!BD!>@E;@?B!DC!:I@<J!<CI!GDR! BG@H!<>@!LJ:CF!BG@=P!-@CB><;!BD!<?B:M@!;@<>C:CF!:J!BG<B!JBLI@CBJ!<>@!<BB<:C:CF!VCDR;@IF@!NH! A<>B:?:A<B:CF!D>!?DCB>:NLB:CFT!V@@A:CF!JBLI@CBJ!=@CB<;;H!<CI!DEB@C!AGHJ:?<;;H!<?B:M@!BG>DLFG! F<BG@>:CF!:CED>=<B:DCT!BG:CV:CFT!<CI!A>DN;@=!JD;M:CF!Z-D;;:CJ!<CI!4U*>:@CT!KWWX_P!#?B:M@! ;@<>C:CF!:J!DEB@C!<!JBLI@CB)?@CB@>@I!BHA@!DE!;@<>C:CF!:C!RG:?G!JBLI@CBJ!:CE;L@C?@!BG@!?DCB@CBT! <?B:M:B:@J!<CI!A<?@!DE!;@<>C:CF!Z-D;;:CJ!<CI!4U*>:@CT!KWWX_P!->:B:?J!G<M@!AD:CB@I!DLB!BG<B! B><I:B:DC<;T!B@<?G@>)?@CB@>@IT!LC:M@>J:BH!;@?BL>@!?DL>J@J!<>@!<B!DIIJ!R:BG!?L>>@CB! LCI@>JB<CI:CF!DE!GL=<C!?DFC:B:DC!Z3<;A@>C!<CI!3<V@;T!KWWK_!<J!BG@H!<>@!ELCI<=@CB<;;H! =DI@;J!DE!A<JJ:M@!;@<>C:CFT!<CI!BGLJ!<>@!;:=:B@I!<J!?;<JJ>DD=!JB><B@F:@JP! +:FC:E:?<CB!>@J@<>?G!G<J!I@=DCJB><B@I!BG@!N@C@E:BJ!DE!<?B:M@!;@<>C:CF!Z2:?G<@;T!KWW\_P! .G:J!>@J@<>?G!G<J!?D=@!E>D=!<!M<>:@BH!DE!I:EE@>@CB!I:J?:A;:C@J!:C?;LI:CF!6GHJ:?J!! Z3<V@T!"]]]_T!-G@=:JB>H!Z0:<`!@B!<;T!KWWK[!.DRCJ!<CI!1><CBT!"]]c_T!<CI!*:D;DFH!Z*L>>DR@JT! KWWX[!2?0@<;!<CI!(U#M<C`DT!"]]c[!9:;V@!<CI!+B><:BJT!KWW"_!<CI!:C?D>AD><B@J!<!M<>:@BH!DE! JBLI@CB)?@CB@>@IT!<?B:M@!;@<>C:CF!B@?GC:SL@JP!.G@J@!B@?GC:SL@J!:C?;LI@T!NLB!<>@!CDB!;:=:B@I!BD! ?<J@)N<J@I!;@<>C:CFT!?D;;<ND><B:M@!;@<>C:CFT!A@@>!:CJB>L?B:DCT!?DC?@ABL<;!?G<CF@!JB><B@F:@JT! :CSL:>H)N<J@I!;@<>C:CFT!I:J?DM@>H!;@<>C:CFT!<CI!B@?GCD;DFH)@CG<C?@I!;@<>C:CF!Z2:?G<@;!<CI! 2DI@;;T!KWWX_P! ! a! %=A;@=@CB<B:DC!DE!;@<>C:CF!@OA@>:@C?@J!BG>DLFG!:CSL:>H)N<J@I!;@<>C:CFT!D>! ?D==LC:BH!DE!:CSL:>H!A@I<FDFHT!G<J!N@@C!JL??@JJEL;!:C!CL=@>DLJ!I@A<>B=@CBJ!<B!I:EE@>@CB! BHA@J!<CI!J:`@J!DE!LC:M@>J:B:@J!<?>DJJ!BG@!5C:B@I!+B<B@J!Z*LC;@H!@B!<;PT!KWWK[!d<>>@BB!<CI! *L>C;@HT!KWWX[!*@<C@T!KWW^[!0:?D;<HJ@C!<CI!,:BB@>NLJGT!KWWa_!<CI!:CB@>C<B:DC<;;H!Z@PFP! &IR<>IJT!KWWX[!d<=@JT!KWW\[!8:CFT!KWW\_P!+BLI:@J!DE!:=A<?BJ!DE!:CSL:>H)N<J@I!;@<>C:CF!G<M@! JGDRC!JL??@JJ!:C!N>D<I!<JA@?BJ!DE!;@<>C:CF!Z3=@;D)+:;M@>T!KWW^[!3=@;D)+:;M@>!@B!<;PT!KWWc_T! <;BGDLFG!JD=@!>@J@<>?G!:CI:?<B@J!BG<B!DC;H!A<>B:?L;<>!BHA@J!DE!:CSL:>H)N<J@I!;@<>C:CF!G<M@! N@@C!JL??@JJEL;!Z2<H@>T!KWW^_P! 0L=@>DLJ!JBLI:@J!G<M@!I@=DCJB><B@I!BG<B!JBLI@CBJ!A@>ED>=!N@BB@>!<CI!G<M@! :C?>@<J@I!;@<>C:CF!DLB?D=@J!:C!?DL>J@J!BG<B!A>D=DB@!<?B:M@!;@<>C:CF!NH!=@<CJ!DE!:CSL:>H) N<J@I!<?B:M:B:@J!<CI!>@J@<>?G!@OA@>:@C?@J!Z-L==:CJ!@B!<;PT!KWW^[!1@:@>!@B!<;PT!KWWb[!3=@;D) +:;M@>T!KWW^[!3=@;D)+:;M@>!@B!<;PT!KWWc[!2<>O!@B!<;PT!KWW^[!4;:M@>T!KWWc_P!#?B:M@!;@<>C:CF! JB><B@F:@J!JL?G!<J!BG@J@!=<H!N@!DE!M<>:DLJ!V:CIJT!NDBG!I:>@?B!<CI!:CI:>@?B!Z$:CV!KWWX_P!#! I:>@?B!;@<>C:CF!@OA@>:@C?@!:CMD;M@J!JBLI@CBJ!@CF<F:CF!:C!>@<;!<?B:DCJ!:C!<C!<LBG@CB:?!J@BB:CFP! $D>!@O<=A;@T!<C!@CM:>DC=@CB<;!J?:@C?@J!JBLI@CB!BG<B!A<>B:?:A<B@J!:C!<!>@<;)RD>;I!?D==LC:BH! I:J?LJJ:DC!DE!@CM:>DC=@CB<;!:JJL@J!:J!@CF<F:CF!:C!<!I:>@?B!;@<>C:CF!@OA@>:@C?@P!%CI:>@?B! ;@<>C:CF!@OA@>:@C?@J!D??L>!RG@C!JBLI@CBJ!<>@!LC<N;@!BD!A<>B:?:A<B@!:C!>@<;)RD>I!J:BL<B:DCJP! %C)?;<JJ!>D;@)A;<H:CF!@O@>?:J@J!<>@!@O<=A;@J!DE!:CI:>@?B!;@<>C:CF!@OA@>:@C?@JP!!! 2L?G!DE!<!F@D;DF:JBUJ!RD>VT!BG@!RD>V!BG<B!R@!RDL;I!;:V@!BD!ILA;:?<B@!R:BG!I:>@?B! ;@<>C:CF!@OA@>:@C?@JT!:CMD;M@J!?DCIL?B:CF!E:@;IRD>VT!@:BG@>!BD!?D;;@?B!I<B<!D>!BD!JD;M@! F@D;DF:?!A>DN;@=J!BG<B!<>@!@C?DLCB@>@I!:C!BG@!E:@;IP!0L=@>DLJ!>@<JDCJ!G<M@!N@@C!?:B@I!ED>! BG@!;<?V!DE!E:@;I!RD>V!:C!NDBG!G:FG!J?GDD;!<CI!LC:M@>J:BH!@<>BG!J?:@C?@!?;<JJ@J[!;<>F@!?;<JJ! J:`@JT!;<?V!DE!JLEE:?:@CB!B:=@T!<M<:;<N:;:BH!DE!B><CJAD>BT!:CB@>@JB!DE!E<?L;BHT!?DJBT!;<?V!DE!JLEE:?:@CB! E:@;I!;D?<;:B:@JT!>:JV!DE!<??:I@CBJT!;<?V!DE!JBLI@CB!:CB@>@JBT!<CI!;<?V!DE!?>@I:B!BDR<>I!?<>@@>! ! \! <IM<C?@=@CB!ED>!E<?L;BH!Z$:ID!<CI!1<H;D>IT!"]bK[!8:C?G:CT!"]]X[!$:JG@>T!KWW"_[!@M@C!BGDLFG! >@J@<>?G!G<J!I@=DCJB><B@I!BG<B!E:@;I)RD>V!G<J!<!ADJ:B:M@!@EE@?B!DC!JBLI@CB!;@<>C:CF! DLB?D=@J!Z*<;;<CBHC@!@B!<;PT!KW"W[!(@3<<CT!,P!'PT!KWWa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c\_!ED>!<C<;H`:CF!EDJJ:;!B><?VR<HJP! +BLI@CBJ!BG@C!?D=A<>@!BG@:>!>@?D>I:CFJ!DE!BG@:>!JA@@IJ!R:BG!BG@:>!?<;?L;<B:DCJ!DE!JA@@I!BD! I@B@>=:C@!BG<B!BG@!ED>=L;<!A>DA@>;H!I@B@>=:C@J!R<;V:CF!M@;D?:BHP!+BLI@CBJ!BG@C!LJ@!BG@! ED>=L;<!BD!I@B@>=:C@!BG@!JA@@I!DE!;D?D=DB:DC!ED>!X!I:EE@>@CB!I:CDJ<L>!YB><?VR<HJU!;<:I!DLB! ED>!BG@=!DC!NLB?G@>UJ!A<A@>T!=@<JL>:CF!JB>:I@!;@CFBG!I:>@?B;H!E>D=!BG@!I:JB<C?@!N@BR@@C! EDDBA>:CBJ!<CI!LJ:CF!EDDB!;@CFBG!<J!<!A>DOH!ED>!G:A!G@:FGBT!<!>@;<B:DCJG:A!BG<B!J@@=J!BD!GD;I! ED>!=<CH!=DI@>C!<C:=<;J!Z#;@O<CI@>T!KWWX_P!.G:J!<JJ:FC=@CB!:J!<!FDDI!@O<=A;@!DE!<C! :CI:>@?B!<?B:M@!;@<>C:CF!<?B:M:BHP!%B!:J!<?B:M@!:C!BG<B!JBLI@CBJ!<>@!@CF<F@I!:C!NDBG!AGHJ:?<;!<CI! =@CB<;!RD>V!BD!JD;M@!A>DN;@=JT!GDR@M@>T!:B!:J!<C!:CI:>@?B!<?B:M:BH!:C!BG<B!JBLI@CBJ!<>@!CDB! :CMD;M@I!:C!<!>@<;)RD>;I!J:BL<B:DCP!9G:;@!<!B><?VR<H!?<C!N@!=:=:?V@I!DC!A<A@>T!?@>B<:C! <JA@?BJ!DE!I:CDJ<L>!N@G<M:D>!BG<B!?<C!N@!<C<;H`@I!BG>DLFG!B><?VR<HJ!<>@!CDB!I:J?@>C<N;@! ! c! R:BG!BG:J!=DI@;!<CI!?D=A;:?<B:DCJ!R:BG!LJ:CF!LC:ED>=:B<>:<C!A>:C?:A;@J!?<CCDB!N@! I@=DCJB><B@I!;<>F@;H!IL@!BD!BG@!BRD)I:=@CJ:DC<;:BH!DE!BG@!A<A@>!B><?VR<HP! .G@!FD<;!DE!BG@!<JJ:FC=@CB!:J!ED>!JBLI@CBJ!BD!LCI@>JB<CI!GDR!BG@!<AA;:?<B:DC!DE! LC:ED>=:B<>:<C:J=!<;;DRJ!BG@=!BD!=<V@!:CE@>@C?@J!<NDLB!BG@!N@G<M:D>!DE!<C!@OB:C?B!<C:=<;! R:BGDLB!G<M:CF!R:BC@JJ@I!BG@!N@G<M:D>!:C!SL@JB:DCP!.G:J!AG:;DJDAGH!:J!ELCI<=@CB<;!BD!CDB! QLJB!F@D;DFHT!NLB!<;;!DE!BG@!G:JBD>:?<;!J?:@C?@J!:C?;LI:CF!@MD;LB:DC<>H!N:D;DFHT!?DJ=D;DFH!<CI! <>?G@D;DFH!<CI!:J!<!N<J:?!?DC?@AB!BG<B!JBLI@CBJ!JGDL;I!LCI@>JB<CI!E>D=!:CB>DIL?BD>H!J?:@C?@! ?DL>J@JP!+BLI@CBJ!LJ@!ED>=L;<@!BD!?<;?L;<B@!BG@:>!R<;V:CF!<CI!QDFF:CF!M@;D?:BH!BD!A>DM@!BG<B! BG@!=<BG@=<B:?J!RD>VP!.G@H!BG@C!<AA;H!BG:J!B@?GC:SL@!BD!?<;?L;<B@!B><?VJ!DE!VCDRC!JA@@IP! 4C?@!BG@H!G<M@!I@=DCJB><B@I!BG<B!BG@!?<;?L;<B:DCJ!RD>V!:C!BG@!A>@J@CB!RD>;I!BG@H!<AA;H! BG@=!BD!BG@!EDJJ:;!>@?D>I!NH!?<;?L;<B:CF!R<;V:CF!M@;D?:B:@J!ED>!I:CDJ<L>JP!! +BLI@CB!<?G:@M@=@CB!DE!BG:J!;@<>C:CF!DLB?D=@!G<J!N@@C!<JJ@JJ@I!:C!BRD!R<HJP!$:>JBT!<! J@>:@J!DE!SL@JB:DCJ!:J!?DCB<:C@I!R:BG:C!BG@!B><?VR<H!<JJ:FC=@CB!<CI!:J!I@J:FC@I!BD!?DCC@?B! BG@!?DC?@AB!DE!LC:ED>=:B<>:<C:J=!BD!BG@!@OA@>:=@CB!BG@H!G<M@!QLJB!?DCIL?B@IP!+@?DCIT! JBLI@CBJ!<>@!<JV@I!<C!@JJ<H!SL@JB:DC!DC!BG@:>!BG@!@O<=!<EB@>!BG@!@O@>?:J@!>@;<B:CF!BD!BG@! A>D?@JJ!DE!GDR!A<;@DCBD;DF:JBJ!JBLIH!BG@!A<JB!<CI!<>@!<JV@I!BD!LJ@!B><?VR<HJ!<J!<C!@O<=A;@P!! ! 5/'6-'%)37! %!A>DADJ@!BD!B@JB!RG@BG@>!JBLI@CB!<?G:@M@=@CB!DC!BG@J@!;@<>C:CF!DLB?D=@JT!<J! =@<JL>@I!NH!BG@J@!BRD!<JJ@JJ=@CB!BDD;JT!:C?>@<J@J!RG@C!JBLI@CBJ!<>@!B<LFGB!BG@J@!BDA:?J! BG>DLFG!<!=D>@!I:>@?BT!E:@;I)N<J@I!;@<>C:CF!<?B:M:BH!><BG@>!BG<C!BG@!?L>>@CB;H!LJ@I!:CI:>@?B! ;@<>C:CF!<?B:M:BHP!%!N@;:@M@!BG<B!?DCJB>L?B:DC!DE!=DI@;J!DE!>@<;!B><?VR<HJT!NDBG!@<>;H!GD=:C:I! <CI!I:CDJ<L>:<CT!R:;;!A>DM:I@!=D>@!I:>@?B!;@<>C:CF!@OA@>:@C?@J!<CI!R:;;!BGLJ!>@JL;B!:C!<C! :C?>@<J@!:C!BG@!CL=N@>!DE!JBLI@CBJ!RGD!<?G:@M@!A<JJ:CF!>@JL;BJ!DC!BG@J@!<JJ@JJ=@CBJ!<CI!<C! ! b! :C?>@<J@!:C!BG@!DM@><;;!=@<C!J?D>@!DC!BG@J@!<JJ@JJ=@CBJP!.G@!<JJ:FC=@CB!<CI!<JJ@JJ=@CB! =@BGDIJ!LJ@I!R:;;!N@!BG@!J<=@!<J!BGDJ@!LJ@I!RG@C!BG@!<?B:M:BH!R<J!A>@M:DLJ;H!B<LFGB!<J!<C! :CI:>@?B!<?B:M:BH!<;;DR:CF!ED>!<!?DCB>D;;@I!@OA@>:=@CB!:C!RG:?G!BG@!DC;H!M<>:<N;@!:J!RG@BG@>! BG@!<?B:M:BH!:J!<C!:CI:>@?B!D>!=D>@!I:>@?B!@OA@>:@C?@P! .G@!A>DADJ@I!B><?VR<H!J:B@!R:;;!G<M@!BG>@@!J@?B:DCJP!.G@!E:>JB!J@?B:DC!R:;;!N@!Ka!E@@B! ;DCF!<CI!a!E@@B!R:I@!<CI!R:;;!G<M@!BRD!J@BJ!DE!=H!B><?VJT!DC@!RG:;@!R<;V:CF!<CI!DC@!RG:;@! QDFF:CF!DC!I>H:CF!?@=@CBP!.G@J@!B><?VJ!R:;;!A>DM:I@!<C!@O<=A;@!ED>!RG:?G!BG@!B><?V!=<V@>UJ! JA@@I!:J!VCDRC!JD!BG<B!JBLI@CBJ!?<C!B@JB!BG@!<??L><?H!DE!BG@!ED>=L;<!BG@H!R:;;!LJ@!BG>DLFGDLB! BG@!<?B:M:BHP!.G@!J@?DCI!AD>B:DC!RDL;I!N@!<AA>DO:=<B@;H!BG@!J<=@!R:IBG!<J!E:>JB!AD>B:DCT!NLB! "WW!E@@B!;DCFP!%B!RDL;I!?DCB<:C!<!>@?>@<B:DC!DE!BG@!GD=:C:I!B><?VJ!A>@J@CB!<B!'<@BD;:T!.<C`<C:<! Z$:FP!X_!<CI!RDL;I!N@!LJ@I!<J!<C!@O<=A;@!DE!LC:ED>=:B<>:<C:J=!<AA;:@I!BD!<C!D>F<C:J=! J:=:;<>!BD!DL>!=DI@>C!@O<=A;@P!.G@!E:C<;!J@?B:DC!DE!BG@!B><?VR<H!J:B@!RDL;I!N@! <AA>DO:=<B@;H!ca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dDL>C<;!DE!1@DJ?:@C?@!&IL?<B:DCP!.G:J!QDL>C<;! :J!BG@!A>:=<>H!DLB;@B!ED>!@IL?<B:DC<;!>@J@<>?G!:C!BG@!F@DJ?:@C?@J!<?>DJJ!G:FG!J?GDD;!<CI! LC:M@>J:BH!?L>>:?L;<!<CI!BG@!>@<I@>JG:A!:J!BG@!<AA>DA>:<B@!<LI:@C?@!ED>!BG:J!>@J@<>?GP!+@?DCIT! %!A;<C!BD!A>@J@CB!<!B<;V!<B!BG@!4?BDN@>T!KW"a!1@D;DF:?<;!+D?:@BH!DE!#=@>:?<!?DCE@>@C?@!:C! ! ]! *<;B:=D>@T!2(!DC!BG@!?DCJB>L?B:DC!DE!BG@!=DI@;!<CI!GDR!:B!:J!LJ@I!:C!DL>!M<>:DLJ!?DL>J@JP! .G@!&IL?<B:DC!(:M:J:DC!DE!1+#!:J!BG@!E<JB@JB!F>DR:CF!F>DLA!:C!BG@!JD?:@BH!<CI!BG@!<CCL<;! =@@B:CF!<BB><?BJ!NDBG!G:FG!J?GDD;!<CI!LC:M@>J:BH!@<>BG!J?:@C?@!:CJB>L?BD>J!A>DM:I:CF!<C! @O?@;;@CB!M@CL@!BD!A>@J@CB!BG:J!>@J@<>?GP!'<JB;HT!%!RDL;I!;:V@!BD!A>@J@CB!BG@!>@JL;BJ!DE!BG@! ?D=A<>:JDC!DE!;@<>C:CF!DLB?D=@J!<B!BG@!Xa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e"TWWW!<CI!%!A;<C!BD!LJ@!:B!ED>!BG@!KW"a!1@D;DF:?<;!+D?:@BH!DE!#=@>:?<!?DCE@>@C?@! :C!*<;B:=D>@T!2(!:C!D>I@>!BD!A>@J@CB!BG@!>@JL;BJ!DE!BG:J!>@J@<>?GP! ! ?)*,6)7,! ! %E!BG:J!A>DADJ<;!:J!ELCI@I!<CI!=DC@H!:J!I:JA@>J@I!NH!BG@!N@F:CC:CF!DE!BG@!+A>:CF! J@=@JB@>!:C!KW"aT!%!<CB:?:A<B@!BG<B!BG@!B><?VR<H!=DI@;!?<C!N@!?DCJB>L?B@I!IL>:CF!BG@!;<B@>! G<;E!DE!+A>:CF!KW"a!D>!+L==@>!DE!KW"a!I@A@CI:CF!LADC!<M<:;<N:;:BH!DE!$<?:;:B:@J!A@>JDCC@;P! ! "W! -DCJB>L?B:DC!IL>:CF!BG@!+L==@>!DE!KW"a!=<H!N@!A>@E@><N;@!BD!>@IL?@!BG@!;:V@;:GDDI!DE! M<CI<;:J=!RG:;@!BG@!?DC?>@B@!:J!I>H:CFP!%!<=!?L>>@CB;H!:C!?DCM@>J<B:DCJ!R:BG!$<?:;:B:@J! 2<C<F@=@CB!A@>JDCC@;!BD!E:CI!<!;D?<B:DC!DC!?<=ALJ!ED>!BG@!=DI@;P! ! %!<CB:?:A<B@!B@<?G:CF!=H!(:CDJ<L>J!?DL>J@!<J!<C!'*+.!KK"X!DEE@>:CF!:C!BG@!$<;;!DE!KW"aT! A@CI:CF!:BJ!<AA>DM<;!NH!BG@!?D;;@F@!?L>>:?L;L=!?D==:BB@@T!D>!:C!BG@!+A>:CF!DE!KW"\!<B!BG@! ;<B@JBP!(L>:CF!BG:J!?DL>J@!%!R:;;!LJ@!BG@!B><?VR<H!=DI@;!R:BG!BG@!@O@>?:J@!%!G<M@!A>@M:DLJ;H! LJ@I!<CI!?D=A<>@!BG@!;@<>C:CF!DLB?D=@J!R:BG!<CI!R:BGDLB!BG@!=DI@;P!%E!BG@!?DL>J@!:J!B<LFGB! :C!$<;;!DE!KW"a!%!?<C!A>@J@CB!<B!1+#!:C!4?BDN@>!DE!KW"aT!:C!-<A@!.DRC!:C!+@AB@=N@>!DE!KW"\! <CI!JGDL;I!G<M@!<!=<CLJ?>:AB!JLN=:BB@I!BD!d1+&!:C!BG@!JL==@>!DE!KW"\P! ! $:FL>@!"P!6GDBDF><AG!DE!<!AD>B:DC!DE!BG@!6<;LOH!,:M@>!B><?V!J:B@!C@<>!1;@C!,DJ@T!.@O<JP! 6GDBDF><AG!NH!1>@F!8LN<CP! ! ""! ! $:FL>@!KP!2<A!DE!BG@!2<:C!.><?V!;<H@>!DE!BG@!6<;LOH!,:M@>!B><?V!J:B@P!2<A!NH!1>@F!8LN<CP! ! $:FL>@!XP!6GDBDF><AG!DE!BG@!'<@BD;:!B><?V!J:B@!:C!CD>BG@>C!.<C`<C:<P!6GDBDF><AG!NH!2<>H! '@<V@HP! ! ! ! "K! +)%,&'%-&,!@)%,4! ! #;@O<CI@>T!,P!2P!KWWXP!6>:C?:A;@J!DE!<C:=<;!;D?D=DB:DCP!KWWXP!6>:C?@BDCT!0df!6>:C?@BDC!! 5C:M@>J:BH!6>@JJP! ! gggggP!"]c\P!&JB:=<B@J!DE!JA@@IJ!DE!I:CDJ<L>JP!0<BL>@!K\"f"K])"XWP! ! *<;;<CBHC@T!,PT!(P!#CI@>JDCT!<CI!dP!6<?V@>P!&OA;D>:CF!BG@!:=A<?B!DE!:CB@F><B@I!E:@;IRD>VT!! >@;@?B:M@!<CI!=@B<?DFC:B:M@!@OA@>:@C?@J!DC!JBLI@CB!;@<>C:CF!DLB?D=@JP!#LJB><;:<C! dDL>C<;!DE!&CM:>DC=@CB<;!&IL?<B:DC!K\f^c)\^P! ! *<>V@>T!+PT!+;:CFJNHT!(P!<CI!.:;;:CFT!+P!KWWKP!.@<?G:CF!N:D;DFH!DLBJ:I@!BG@!?;<JJ>DD=f!:J!:B!! G@<I:CF!ED>!@OB:C?B:DCh!#!>@AD>B!DC!N:D;DFH!E:@;IRD>V!:C!BG@!"^W"]!?L>>:?L;L=P!$+-! 4??<J:DC<;!6LN;:?<B:DC!cKP!6>@JBDC!2DCBED>IT!+G>DAJG:>@f!$:@;I!+BLI:@J!-DLC?:;P! ! *�&T!,PdPT!KWW^P!5J:CF!BG@!J?<CC:CF!@;@?B>DC!=:?>DJ?DA@!ED>!I:J?DM@>H!N<J@I!;@<>C:CF!! :C!LCI@>F><IL<B@!?DL>J@JT!!dDL>C<;!DE!1@DJ?:@C?@!&IL?<B:DCT!MP!aKT!CP!X!AP!KaW)KaXP! ! *'442!*P!+P!"]a\P!.<ODCD=H!DE!&IL?<B:DC<;!4NQ@?B:M@Jf!.G@!-DFC:B:M@!(D=<:CP!0@R!! 7D>Vf!(<M:I!2?8<H!-D!%C?P! ! *5,0'&7T!6P-PT!&/#0+T!9PT!<CI!d#,,&..T!4P+PT!KWWKP!!#!?D=A<>:JDC!DE!<AA>D<?G@J!<CI!! :CJB>L=@CBJ!ED>!@M<;L<B:CF!<!F@D;DF:?<;!J?:@C?@J!>@J@<>?G!@OA@>:@C?@J!A>DF><=P!!! dDL>C<;!DE!1@DJ?:@C?@!&IL?<B:DCT!MP!aT!CP"T!AP!"a)K^P! ! *L>>DR@JT!6P!#P!KWWXP!'D>IUJ!?DCJB>L?B:M:JB!=DI@;!ALB!BD!<!B@JBP!#=@>:?<C!*:D;DFH!! .@<?G@>!\af^]")aWKP! ! -D;;:CJT!dP!9P!<CI!4U*>:@CT!0P!6P!Z@IJ_P!KWWXP!.G@!1>@@CRDDI!(:?B:DC<>H!DE!&IL?<B:DCP!! 9@JBAD>BT!-.P!1>@@CRDDIP! ! -522%0+T!,P!3PT!9P!dP!1,&&0T!<CI!-P!&''%4..P!KWW^P!i6>D=AB@Ij!:CSL:>H)N<J@I!;@<>C:CF!! :C!BG@!%CB>DIL?BD>H!-G@=:JB>H!'<ND><BD>HP!dDL>C<;!DE!-G@=:?<;!&IL?<B:DC!b"f!KX])K^\! ! (@3<CCT!,P!'P!KWWaP!.G@!:=A@CI:CF!>@MD;LB:DC!:C!LCI@>F><IL<B@!J?:@C?@!@IL?<B:DCP!! dDL>C<;!DE!J?:@C?@!@IL?<B:DC!<CI!B@?GCD;DFH!"^fKaX)K\]P! ! (:;;DCT!dPT!2P!,:?V:CJDCT!8P!.@<=@HT!2P!2D>>:JT!2P!7P!-GD:T!(P!+<LCI@>JT!<CI!6P!*@C@E:@;IP!! KWW\P!.G@!M<;L@!DE!DLBIDD>!;@<>C:CFf!@M:I@C?@!E>D=!>@J@<>?G!:C!BG@!58!<CI!@;J@RG@>@P! +?GDD;!+?:@C?@!,@M:@R!bcf"Wc)"""P! ! &(9#,(+T!+PT!KWWXP!%CB@F><B@I!B@<?G:CF!<CI!>@J@<>?G!:C!F@DF><AGH!<CI!BG@!@<>BG!<CI!! @CM:>DC=@CB<;!J?:@C?@J!<J!@O@=A;:E:@I!NH!BG@!1>@@CRG:?G)-HA>LJ!:C:B:<B:M@T!!':CV:CF! B@<?G:CF!<CI!>@J@<>?G!:C!BG@!F@DF><AGHT!@<>BG!<CI!@CM:>DC=@CB<;!+?:@C?@J!?DCE@>@C?@T! #NJB><?BJT!AP!]P! ! ! ! "X! $:IDT!3P!+P!<CI!-P!1P!1<H;D>IP!"]bKP!$:@;IRD>V!<CI!BG@!N:D;DFH!B@<?G@>f!<!JL>M@H!DE!! J@?DCI<>H!J?GDD;J!:C!&CF;<CI!<CI!9<;@JP!dDL>C<;!DE!*:D;DF:?<;!&IL?<B:DC!"\fKc)XKP! ! $%08T!'P!(P!KWWXP!->@<B:CF!J:FC:E:?<CB!;@<>C:CF!@OA@>:@C?@Jf!#C!:CB@F><B@I!<AA>D<?G!BD!! I@J:FC:CF!?D;;@F@!?DL>J@JP!dDJJ@H)*<JJT!+<C!$><C?:J?DP! ! $:JG@>T!dP!#P!!KWW"P!.G@!I@=:J@!DE!E:@;IRD>V!<J!<C!:CB@F><;!A<>B!DE!J?:@C?@!@IL?<B:DC!:C!! 58!J?GDD;Jf!<!M:?B:=!DE!?L;BL><;!?G<CF@!<CI!AD;:B:?<;!A>@JJL>@h!6@I<FDFHT!-L;BL>@T!<CI! +D?:@BH!]fca)]aP!! ! 1#9&'T!dP&PT!<CI!1,&&01,4/&T!-P'PT!KWWaP!!(@J:FC:CF!LCI@>F><IL<B@!>@J@<>?G!! @OA@>:@C?@J!ED>!CDCB><I:B:DC<;!JBLI@CB!;@<>C:CF!<B!J@<T!MP!aXT!CP!"T!AP!X")X\P! ! 1@:@>T!,PT!6P-P!*;L=@CE@;IT!,P!9P!2<>OT!dP!+P!8><Q?:VT!*P!$:JG=<CT!&P!+D;DR<HT!dP!-;<H)! -G<=N@>JP!KWWbP!+B<CI<>I:`@I!B@JB!DLB?D=@J!ED>!JBLI@CBJ!@CF<F@I!:C!:CSL:>H)N<J@I! ?L>>:?L;<!:C!BG@!?DCB@OB!DE!L>N<C!>@ED>=P!dDL>C<;!DE!,@J@<>?G!:C!+?:@C?@!.@<?G:CF!^af! ]KK)]X]P! ! 1:NJDCT!(P!dPT!*P!#P!2:II;@BDCT!1P!9P!+<LCI@>JT!2P!2<BG:JT!9P!.P!9@<M@>T!dP!0@@;HT!dP!,:M@><T!! <CI!2P!4H;@>P!"]]]P!'@<>C:CF!@?D;DFH!NH!ID:CF!@?D;DFHP!.G@!#=@>:?<C!*:D;DFH!.@<?G@>! \"fK"c)KKKP! ! 3<@EC@>T!dP!9PT!(P!&P!,DR<CT!&P!9P!&M<CJT!<CI!#P!2P!':CI<G;P!KWWKP!%J;<CI!N:DF@DF><AGHf!! +BLI@CBJ!?D;DC:`@!:J;<CIJ!BD!B@JB!GHADBG@J@JP!6<F@J!"]")K"bT!:C!.@JB@I!JBLI:@J!! ED>!;<ND><BD>H!!B@<?G:CFT!/D;L=@!KX!Z2P!#P!4U(DCC@;;T!&I:BD>_P!6>D?@@I:CFJ!DE!BG@!! KX>I!9D>VJGDAk-DCE@>@C?@!DE!BG@!#JJD?:<B:DC!ED>!*:D;DFH!'<ND><BD>H!&IL?<B:DC!! Z#*'&_T!X]K!A<F@JP!! ! 3<V@T!,P!,P!"]]]P!%CB@><?B:M@!@CF<F@=@CB!M@>JLJ!B><I:B:DC<;!=@BGDIJf!<!J:O)BGDLJ<CI!! JBLI@CB!JL>M@H!DE!=@?G<C:?J!B@JB!I<B<!ED>!:CB>DIL?BD>H!AGHJ:?J!?DL>J@JP!#=@>:?<C! dDL>C<;!DE!6GHJ:?J!\\f\^)c^P! ! 3<;A@>CT!(P!$P!<CI!3<V@;T!2P!(P!KWWKP!'@<>C:CF!BG<B!;<JBJ!<!;:E@B:=@f!B@<?G:CF!ED>!! >@B@CB:DC!<CI!B><CJE@>P!0@R!(:>@?B:DCJ!:C!.@<?G:CF!<CI!'@<>C:CF!b]fX)cP! ! 3&,,%-8T!,P+PT!"]]"P!2DB:M<B:CF!BG@!LCI@>F><IL<B@!BDR<>I!<!J?:@C?@!?<>@@>!)!BG@!3D;H!! ->DJJ!-D;;@F@!JL==@>!>@J@<>?G!@OA@>:@C?@T!!dDL>C<;!DE!-D;;@F@!+?:@C?@!.@<?G:CFT!MP!KWT! AP!K]^)K]\P! ! 32&'4)+%'/&,T!-P!&P!KWW^P!6>DN;@=)N<J@I!;@<>C:CFf!9G<B!ID!JBLI@CBJ!;@<>Ch!! &IL?<B:DC<;!6JH?GD;DFH!,@M:@R!"\f!KXa)K\\P! ! 32&'4)+%'/&,T!-P!&PT!(53-#0T!,P!1PT!<CI!-3%00T!-P!#P!KWWcP!+?<ED;I:CF!<CI!! <?G:@M@=@CB!:C!A>DN;@=)N<J@I!<CI!:CSL:>H!;@<>C:CFf!#!>@JADCJ@!BD!8:>J?GC@>T!+R@;;@>T! <CI!-;<>V@!ZKWW\_P!&IL?<B:DC<;!6JH?GD;DF:JB!^Kf]])"Wc! ! ! ! "^! 3DR<>BGT!+P!<CI!(P!+;:CFJNHP!KWWbP!1>DLCIJf!<!=DI@;!DE!FDDI!A><?B:?@!:C!B@<?G:CF!! J?:@C?@P!+?GDD;!J?:@C?@!>@M:@R!bcf]])"WaP! ! d#,,&..T!4P+PT!<CI!*5,0'&7T!6P-PT!KWWXP!!&CF<F@=@CB!:C!<LBG@CB:?!F@DJ?:@C?@!>@J@<>?Gf!!!! &M<;L<B:DC!DE!>@J@<>?G!@OA@>:@C?@J!DE!LCI@>F><IL<B@J!<CI!J@?DCI<>H!B@<?G@>JT!MP!a"T!CP! "T!AP!ba)]WP! ! 8&,0T!&P'PT!#0(!-#,6&0.&,T!dP,PT!"]b^P!!&CG<C?@=@CB!DE!JBLI@CB!M<;L@JT!:CB@>@JBJ!<CI!! <BB:BLI@J!:C!@<>BG!J?:@C?@!BG>DLFG!<!E:@;I!D>:@CB@I!<AA>D<?GP!!dDL>C<;!DE!1@D;DF:?<;! &IL?<B:DCT!MP!XKT!AP!K]])XWaP! ! 8:C?G:CT!%P!"]]XP!.@<?G:CF!@?D;DFH!:C!&CF;<CI!<CI!9<;@J)<!JL>M@H!DE!?L>>@CB!A><?B:?@P!! dDL>C<;!DE!*:D;DF:?<;!&IL?<B:DC!KcfK])XXP! ! 8%01T!3P'PT!KWW\P!!1@DJ?:@C?@!;@<>C:CF!>@J@<>?G!:C!58!G:FG@>!@IL?<B:DCT!!! RRRPF@@JP<?PLVP! ! 2#,lT!,P!9PT!6P!-P!*'522$&'(T!dP!+P!8,#-d%8T!*P!$%+32#0T!&P!+4'49#7T!,P!1&%&,T!<CI!! ,P!.P!.#'P!KWW^P!%CSL:>H)N<J@I!J?:@C?@!:C!BG@!=:II;@!F><I@Jf!#JJ@JJ=@CB!DE!;@<>C:CF!:C! L>N<C!JHJB@=!>@ED>=P!dDL>C<;!DE!,@J@<>?G!:C!+?:@C?@!.@<?G:CF!^"f!"W\X)"WbWP! ! 2<H@>T!,P!&P!KWW^P!+GDL;I!BG@>@!N@!<!BG>@@)JB>:V@!>L;@!<F<:CJB!AL>@!I:J?DM@>H!;@<>C:CFh!! #=@>:?<C!6JH?GD;DF:JB!a]f"^)"]P! ! 2?0@<;T!#P!6P!<CI!-P!(U#M<C`D!Z@IJ_P!"]]cP!+BLI@CB)#?B:M@!+?:@C?@f!2DI@;J!DE!%CCDM<B:DC!! :C!-D;;@F@!+?:@C?@!.@<?G:CFP!$D>B!9D>BGT!.lf!+<LCI@>J!-D;;@F@P! ! 2:?G<@;T!dP!KWW\P!9G@>@UJ!BG@!@M:I@C?@!BG<B!<?B:M@!;@<>C:CF!RD>VJh!#IM<C?@J!:C!! 6GHJ:D;DF:?<;!&IL?<B:DC!XWf"a])"\cP! ! ggggg!<CI!2DI@;;T!3P!%P!#?B:M@!;@<>C:CF!:C!J@?DCI<>H!<CI!?D;;@F@!J?:@C?@!?;<JJ>DD=Jf!<!! RD>V:CF!=DI@;!DE!G@;A:CF!BG@!;@<>C:CF!BD!;@<>CP!2<GR<GT!0df!&>;N<L=P! ! 0#.%40#'!,&+&#,-3!-450-%'!-422%..&&!40!50(&,1,#(5#.&!*%4'417!! &(5-#.%40!.4!6,&6#,&!,&+&#,-3!+-%&0.%+.+!$4,!.3&!K"+.!-&0.5,7T!KWWXP! 0<B:DC<;!+?:@C?@!&IL?<B:DC!+B<CI<>IJf!9<JG:CFBDCT!(P-PT!0<B:DC<;!#-#(&27! ! 0#.%40#'!,&+&#,-3!-450-%'!-422%..&&!40!+-%&0.%$%-!6,%0-%6'&+!$4,!! ,&+&#,-3!&(5-#.%40T!KWWKP!0<B:DC<;!+?:@C?@!&IL?<B:DC!+B<CI<>IJf!! 9<JG:CFBDCT!(P-PT!0<B:DC<;!#-#(&27! ! 0#.%40#'!,&+&#,-3!-450-%'T!"]]\P!0<B:DC<;!+?:@C?@!&IL?<B:DC!+B<CI<>IJf!! 9<JG:CFBDCT!(P-PT!0<B:DC<;!#?<I@=H!6>@JJT!K\K!AP! ! 0#.%40#'!+-%&0-&!$450(#.%40T!"]]\P!!+G<A:CF!BG@!ELBL>@f!!0@R!@OA@?B<B:DCJ!ED>!! LCI@>F><IL<B@!@IL?<B:DC!:C!J?:@C?@JT!=<BG@=<B:?JT!@CF:C@@>:CF!<CI!B@?GCD;DFHT!0+$) ]\)"X]P! ! "a! ! 0:<`T!2PT!#FL:;@><T!(P!2<`<T!#PT!<CI!':@CIDT!1P!KWWKP!#>FL=@CBJT!?DCB><I:?B:DCJT!! >@J:JB<C?@JT!<CI!?DC?@ABL<;!?G<CF@J!:C!JBLI@CBJ!LCI@>JB<CI:CF!DE!<BD=:?!JB>L?BL>@P! +?:@C?@!&IL?<B:DC!b\faWa)aKaP! ! 0%-4'#7+&0T!8P6PT!<CI!,%..&,*5+3T!'P9PT!KWWaP!!dDL>C<;!DE!1@DJ?:@C?@!&IL?<B:DCT!MP!! aXT!CP!KT!AP!"\\)"cKP! ! 4'%/&,T!,P!KWWcP!&OA;D>:CF!<C!:CSL:>H)N<J@I!;@<>C:CF!<AA>D<?G!R:BG!E:>JB)H@<>!JBLI@CBJ!! :C!<!;<>F@!LCI@>F><IL<B@!?;<JJP!%CCDM<B:DCJ!:C!@IL?<B:DC!<CI!B@<?G:CF!:CB@>C<B:DC<;! ^^f!X)"aP! ! 6&.-4/%-T!3P!'PT!+.48&+T!#T!<CI!-#5'8%0+T!dP!'P!KW"^P!1@DJ?:@CB:JBJU!A@>?@AB:DCJ!DE!BG@!! M<;L@!DE!LCI@>F><IL<B@!E:@;I!@IL?<B:DCP!1+#!.DI<H!K^f^)"WP! ! 6L;;:<=T!3P!,P!"]]\P!+DL>?@J!<CI!J:CVJf!@=A:>:?<;!@M:I@C?@!<CI!ADAL;<B:DC!! ?DCJ@SL@C?@JP!6AP!^a)\]!:C!6DAL;<B:DC!IHC<=:?J!:C!@?D;DF:?<;!JA<?@!<CI!B:=@T!4P!&P! ,GDI@J!d>T!,P!8P!-G@JJ@>T!<CI!2P!3P!+=:BG!Z@IJP_P!5C:M@>J:BH!DE!-G:?<FD!6>@JJT!-G:?<FDP! ! .DRCJT!2P!3P!<CI!1><CBT!&P!,P!"]]cP!i%!N@;:@M@!%!R:;;!FD!DLB!DE!BG:J!?;<JJ!<?BL<;;H!VCDR:CF!! JD=@BG:CFUf!?DDA@><B:M@!;@<>C:CF!<?B:M:B:@J!:C!AGHJ:?<;!?G@=:JB>HP!dDL>C<;!DE!,@J@<>?G! DE!+?:@C?@!.@<?G:CF!X^fb"])bXaP! ! /D;A@T!&P!6P!"]b^P!.G@!JG<=@!DE!J?:@C?@!@IL?<B:DCP!#=@>:?<C!mDD;DF:JB!K^fXX)^^"P! ! 9:;V:@T!,P!,P!<CI!+B><:BT!9P!dP!KWW"P!.G@!@EE@?BJ!DE!I:J?DM@>H!;@<>C:CF!:C!<!;DR@>)I:M:J:DC!! N:D;DFH!?DL>J@P!#IM<C?@J!:C!6GHJ:D;DF:?<;!&IL?<B:DC!Kaf\K)\]P! ! ! ! ! ! "\! Budget Request for SOTL Grant Year Joint Proposal? Yes X 2014 No Title of Project A FIELD-BASED DIRECT ACTIVE LEARNING METHOD FOR TEACHING UNIFORMITARIAN PRINCIPLES IN INTRODUCTORY GEOLOGY COURSES USING RECONSTRUCTIONS OF EARLY HOMINID AND DINOSAUR TRACKWAYS Duration of Project Spring 2015 – Fall 2016 Primary Investigator(s) William Garcia Email Address(es) [email protected] UNC Charlotte SOTL Grants Previously Received (please names of project, PIs, and dates) Teaching the equilibrium theory of island biogeography as an on campus field laboratory, William Garcia and Sara Gagne, Spring 2013-Spring 2014 Allocate operating budget to Department of Geography and Earth Sciences ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! "c! !! !! Account #! Award! Year One! January to June! Transferred directly from Academic Affairs to Grantee on Faculty Stipend! May 15! 911250! Graduate Student Salaries! !eW! 911300! Special Pay (Faculty on UNCC payroll other than Grantee)! !eW! 915000! Student Temporary Wages! !eW! 915900! Non-student Temporary Wages ! !eW! 920000! Honorarium (Individual(s) not with UNCC)! !eW! 921150! Participant Stipends! !eW! 925000! Travel - Domestic! !eW! 926000! Travel - Foreign! !eW! 928000! Communication and/or Printing! !eW! 930000! Supplies! !e"WTaWW! 942000! Computing Equipment! !eW! 944000! Educational Equipment! !eW! 951000! Other Current Services! !eW! !! ! GRAND TOTAL! ! ! ! ! ! ! ! ! "b! ! $0 ! $10,500 ! ! !! !! Account #! Award! Year Two! July to June! Transferred directly from Academic Affairs to Grantee on Faculty Stipend! May 15! $0 ! 911250! Graduate Student Salaries! !eW! 911300! Special Pay (Faculty on UNCC payroll other than Grantee)! !eW! 915000! Student Temporary Wages! !eW! 915900! Non-student Temporary Wages ! !eW! 920000! Honorarium (Individual(s) not with UNCC)! !eW! 921150! Participant Stipends! !eW! 925000! Travel - Domestic! !eW! 926000! Travel - Foreign! !eXTcWW! 928000! Communication and/or Printing! !eW! 930000! Supplies! !eW! 942000! Computing Equipment! !eW! 944000! Educational Equipment! !eW! 951000! Other Current Services! !eW! !! $2500 ! GRAND TOTAL!$3,700 ! ! $2500 ! "%%'(2*,7%$f! ! "P #BB<?GkA>DM:I@!<!C<>><B:M@!BG<B!@OA;<:CJ!GDR!BG@!ELCIJ!>@SL@JB@I!R:;;!N@!LJ@IP! KP 3<J!ELCI:CF!ED>!BG@!A>DQ@?B!N@@C!>@SL@JB@I!E>D=!DBG@>!JDL>?@Jh!!ggg!7@J!!!gglgg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e"WTaWW!ED>!BG@!?DJB!DE!<!"a!EDDB!NH! "WW!EDDB!?DC?>@B@!J:I@R<;V!:C?;LI:CF!?DJB!DE!=<B@>:<;J!<CI!;<ND>P!! ! 2H!DBG@>!>@SL@JB!ED>!ELCI:CF!:J!ED>!B><M@;!BD!BG@!XaBG!%CB@>C<B:DC<;!1@D;DFH!-DCF>@JJ!:C! -<A@!.DRC!#LFLJB!KcBG!BG>DLFG!+@AB@=N@>!^BG!DE!KW"\P!-DCE@>@C?@!>@F:JB><B:DC!<CI!GDB@;! ><B@J!ED>!BG@!?DCE@>@C?@!G<M@!H@B!BD!N@!<CCDLC?@IT!NLB!><B@J!ED>!BG@!X^BG!-DCF>@JJ!:C!*>:JN<C@! R@>@!N@BR@@C!ebaW!<CI!e"TXWW!I@A@CI:CF!DC!BG@!BHA@!DE!>@F:JB><B:DCP!&:FGB!C:FGBJ!DE!GDB@;! @OA@CJ@J!:C!-<A@!.DRC!<B!<!;D?<B:DC!R:BG:C!n!=:;@!DE!BG@!?DCM@CB:DC!?@CB@>!RDL;I!?DJB! <AA>DO:=<B@;H!ebWW!<B!?L>>@CB!><B@JP!-L>>@CB!<:>E<>@!ED>!;<B@!#LFLJB!BD!@<>;H!+@AB@=N@>!DE! KW"a!E>D=!-G<>;DBB@!BD!-<A@!.DRC!:J!<AA>DO:=<B@;H!e"T\WWP!$<>@J!ED>!KW"\!<>@!CDB!?L>>@CB;H! <M<:;<N;@P!! ! .DB<;!@JB:=<B@I!?DJBJ!ED>!?DCJB>L?B:DC!DE!BG@!B><?VR<H!=DI@;!<CI!B><M@;!@OA@CJ@J!BD! -<A@!.DRC!<>@!e"^TKWWP! ! ! ! ! ! KW! Office of the Dean 9201 University City Boulevard, Charlotte, NC 28223-0001 t/ 704-687-0088 f/ 704-687-0089 http://clas.uncc.edu November 4, 2014 SOTL Grants Committee Center for Teaching & Learning [email protected] Dear Committee Members: I am writing in support of the SOTL proposal submitted by William Garcia of our Department of Geography and Earth Sciences, “A field-based direct active learning method for teaching uniformitarian principles in introductory geology courses using reconstructions of early hominid and dinosaur trackways.” Garcia proposes to construct on campus a model of famous hominid and dinosaur trackways that are preserved in the geologic record. These trackways would be used in a number of different courses to provide a field-based active learning lab. While fieldwork is a common experience for many majors in the natural sciences, something exciting about this project is that it creates an opportunity for field-based work in lower-level general education courses. Thus, even non-science majors will have an opportunity for this type of valuable learning experience. Garcia will be able to compare student performance on select learning outcomes using the direct field-based learning activity proposed to the results obtained when the course was previously taught and an indirect activity was used for the same material. It provides a strong basis for comparing the two methods and he plans to disseminate the results through two presentations and an article to be submitted to the Journal of Geoscience Education. I believe the construction of the trackways will be a valuable addition to our campus and to the instruction and learning in the Geology and general education courses that are able to make use of them. I am pleased to recommend the proposal for your consideration. ! K"! Please let me know if you require further information. Thank you. Sincerely yours, Nancy A. Gutierrez, Dean College of Liberal Arts and Sciences ! KK! ! ! KX!
© Copyright 2026 Paperzz