CS Użivatelská přírućka 1 Péće o zákazníky a záruka 32

Transkript

CS Użivatelská přírućka 1 Péće o zákazníky a záruka 32
202E2
202EL2
ZZZSKLOLSVFRPZHOFRPH
&6 8åLYDWHOVNiSĜtUXþND
3pþHR]iND]QtN\D]iUXND
2GVWUDĖRYiQtSUREOpPĤDþDVWpGRWD]\ Obsah
'ĤOHåLWp
%H]SHþQRVWQtRSDWĜHQtD~GUåED...........
9\VYČWOHQt]iSLVX..................................
/LNYLGDFHSURGXNWXD
REDORYpKRPDWHULiOX .............................
6HVWDYHQtPRQLWRUX
,QVWDODFH ...............................................
2YOiGiQtPRQLWRUX ................................5
2GSRMWHVWRMiQHNSRGVWDYFHD
SRGVWDYHF .............................................7
,QIRUPDFHRSURGXNWX
6PDUW,PDJH/LWH ...................................6
6PDUW&RQWUDVW ......................................7
3KLOLSV6PDUW&RQWURO/LWH ......................8
3RVWXSSĜLYDGQêFKSL[HOHFKSORFKpKR
SDQHOXVSROHþQRVWL3KLOLSV ..................
7HFKQLFNp~GDMH
5HåLP\UR]OLãHQtDSĜHGYROHE .............
$XWRPDWLFNi~VSRUDHQHUJLH...............
,QIRUPDFHRUHJXODFL ........................23
3pþHR]iND]QtN\D]iUXND...............32
2GVWUDĖRYiQtSUREOpPĤDþDVWp
GRWD]\
2GVWUDĖRYiQtSUREOpPĤ ......................
6PDUW&RQWURO/LWHþDVWp
GRWD]\ .................................................
2EHFQpþDVWpGRWD]\..........................
‡ 9åG\SRXåtYHMWHQDSiMHFtNDEHOVFKYiOHQê
VSROHþQRVWt3KLOLSV3RNXGQDSiMHFtNDEHO
FK\EtREUDĢWHVHQDQHMEOLåãtVHUYLVQt
VWĜHGLVNR9L]LQIRUPDFHRVWĜHGLVFtFK
]iND]QLFNpSpþH
‡ %ČKHPSRXåtYiQtQHY\VWDYXMWHPRQLWRU
QDGPČUQêPRWĜHVĤPQHERQiUD]ĤP
‡ 3ĜLSRXåtYiQtQHERSĜHPtVĢRYiQt
GRPRQLWRUXQHNRSHMWHD]DEUDĖWH
SĜtSDGQpPXSiGX
'ĤOHåLWp
7DWRHOHNWURQLFNiXåLYDWHOVNiSĜtUXþND
MHXUþHQDSURNDåGpKRXåLYDWHOHWRKRWR
PRQLWRUX3KLOLSV3ĜHGSRXåtYiQtPPRQLWRUX
VLSĜHþWČWHWXWRXåLYDWHOVNRXSĜtUXþNX
2EVDKXMHGĤOHåLWpLQIRUPDFHDSR]QiPN\N
SRXåtYiQtYDãHKRPRQLWRUX
=iUXND3KLOLSVMHSODWQiSRNXGMHYêUREHN
SRXåtYiQSURQDYUåHQRXSRWĜHEXYVRXODGX
VQiYRGHPDSRSĜLORåHQtRULJLQiOXIDNWXU\
QHERSRNODGQtPGRNODGHPR]QDþXMtFtP
GDWXPQiNXSXMPpQRSURGHMFHDPRGHORYp
DYêUREQtþtVORYêURENX
ÒGUåED
‡ $E\E\OWHQWRPRQLWRUFKUiQČQSĜHG
PRåQêPSRãNR]HQtPQHY\YtMHMWH
QDGPČUQêWODNQDSDQHO/&'3ĜL
SĜHPtVĢRYiQt]YHGHMWHPRQLWRU]DUiP
SĜL]YHGiQtPRQLWRUXQHVDKHMWHUXNRX
QHERSUVW\QDSDQHO/&'
‡ 1HEXGHWHOLPRQLWRUGHOãtGREXSRXåtYDW
RGSRMWHMHM]H]iVXYN\
‡ 3ĜHGRþLãWČQtPPtUQČQDYOKþHQêP
KDGĜtNHPPRQLWRURGSRMWH]H]iVXYN\
-HOLY\SQXWpQDSiMHQtO]HREUD]RYNX
RWĜtWVXFKêPKDGĜtNHP.þLãWČQt
PRQLWRUXQLNG\QHSRXåtYHMWHRUJDQLFNi
UR]SRXãWČGODMDNRQDSĜtNODGDONRKRO
QHERþLVWLþHVREVDKHPþSDYNX
‡ =DEUDĖWHQHEH]SHþt~UD]XHOHNWULFNêP
SURXGHPQHERWUYDOpKRSRãNR]HQt
PRQLWRUXDFKUDĖWHPRQLWRUSĜHG
SUDFKHPGHãWČPYRGRXQHERQDGPČUQČ
YOKNêPSURVWĜHGtP
‡ 3RNXGGRMGHNQDPRþHQtPRQLWRUXFR
QHMGĜtYHMHMRVXãWHVXFKêPKDGĜtNHP
‡ 9QLNQHOLGRPRQLWRUXFL]tOiWNDQHER
YRGDLKQHGY\SQČWHQDSiMHQtDRGSRMWH
QDSiMHFtNDEHO2GVWUDĖWHFL]tOiWNX
QHERYRGX]PRQLWRUXDRGHãOHWHMHMGR
VHUYLVQtKRVWĜHGLVND
‡ 0RQLWRUQHVNODGXMWHDQLQHSRXåtYHMWH
QDPtVWHFKY\VWDYHQêFKWHSOXSĜtPpPX
VOXQHþQtPX]iĜHQtQHERH[WUpPQtP
WHSORWiP
%H]SHþQRVWQtRSDWĜHQtD~GUåED
9DURYiQt
3RXåLWtNRQWURO~SUDYQHERSRVWXSĤ
MLQêP]SĤVREHPQHåMHVWDQRYHQRYWpWR
GRNXPHQWDFLPĤåHYpVWNRKURåHQtãRNHP
HOHNWULFNêPDQHERPHFKDQLFNêPUL]LNĤP
3ĜHþWČWHVLDGRGUåXMWHW\WRLQVWUXNFHSĜL
]DSRMRYiQtDSRXåtYiQtYDãHKR3&PRQLWRUX
3RXåtYiQt
‡ 8GUåXMWHPRQLWRUPLPRSĜtPpVOXQHþQt
]iĜHQtDYEH]SHþQpY]GiOHQRVWLRG
YHãNHUêFK]GURMĤWHSOD
‡ 2GVWUDĖWHYHãNHUpSĜHGPČW\NWHUpE\
PRKO\VSDGQRXWGRYČWUDFtFKRWYRUĤ
QHER]DEUiQLWGRVWDWHþQpPXFKOD]HQt
HOHNWURQLN\PRQLWRUX
‡ 1H]DNUêYHMWHYČWUDFtRWYRU\YHVNĜtĖFH
‡ 8PtVWČWHPRQLWRUQDWDNRYpPtVWR
]HNWHUpKREXGHHOHNWULFNi]iVWUþNDD
]iVXYNDVQDGQRSĜtVWXSQi
‡ -HVWOLåHMVWHY\SQXOLPRQLWRURGSRMHQtP
QDSiMHFtKRNDEHOXQHERNDEHOX
QDSiMHFtKRDGDSWpUXSĜHGSĜLSRMHQtP
NDEHOXSRþNHMWHVHNXQGDE\PRQLWRU
IXQJRYDOQRUPiOQČ
‡ &KFHWHOL]DFKRYDWRSWLPiOQtYêNRQQRVW
PRQLWRUXDSURGORXåLWMHKRåLYRWQRVW
SRXåtYHMWHMHMQDPtVWČNWHUpVSOĖXMH
QiVOHGXMtFtUR]VDK\WHSORWDYOKNRVWL
R 7HSORWDƒ&ƒ)
R 9OKNRVWUHODWLYQtYOKNRVWL
‡ 'ģ/(ä,7e3ĜHGSRQHFKiQtPPRQLWRUX
EH]GR]RUXYåG\DNWLYXMWHVSRĜLþ
REUD]RYN\%XGHOLQDYDãHPPRQLWRUX
]REUD]HQQHPČQtFtVHVWDWLFNêREVDK
YåG\DNWLYXMWHDSOLNDFLSURSUDYLGHOQRX
REQRYXREUD]RYN\'ORXKRGREp
QHSĜHUXãRYDQp]REUD]HQtQHK\EQpKR
QHERVWDWLFNpKRREUD]XPĤåH]SĤVRELW
ÄY\SiOHQt³REUD]RYN\URYQČå]QiPpMDNR
ÄGRVYLW³QHERÄ]REUD]HQtGXFKĤ³
Ä9\SiOHQt³ÄGRVYLW³QHERÄ]REUD]HQt
GXFKĤ³MHGREĜH]QiPêMHYXWHFKQRORJLH
SDQHOĤ/&'9PQRKDSĜtSDGHFK
ÄY\SiOHQt³ÄGRVYLW³QHERÄ]REUD]HQt
GXFKĤ³SRVWXSQČ]PL]tSRXUþLWpGREČ
PLPRSURYR]
3R]QiPND
3RNXGPRQLWRUQHIXQJXMHVSUiYQČQHER
SRNXGVLQHMVWHMLVWLMDNpNURN\MHWĜHED
SURYpVWSRSURYHGHQtSRN\QĤYWpWRSĜtUXþFH
REUDĢWHVHQDVHUYLVQtKRSUDFRYQtND
9\VYČWOHQt]iSLVX
1iVOHGXMtFtSRGRGGtO\SRSLVXMt]SĤVRE
]iSLVXNWHUêVHSRXåtYiYWpWRSĜtUXþFH
3R]QiPN\XSR]RUQČQtDYêVWUDK\
1DVWUiQNiFKWpWRSĜtUXþN\PĤåHWHQDUD]LW
QDWH[WNWHUêMHRSDWĜHQêV\PEROHPDMH
Y\WLãWČQWXþQČQHERNXU]tYRX7DNRYp~VHN\
REVDKXMtSR]QiPN\XSR]RUQČQtDYêVWUDK\
-HMLFKSRXåLWtMHQiVOHGXMtFt
3R]QiPND
7HQWRV\PEROR]QDþXMHGĤOHåLWpLQIRUPDFH
DQiYUK\NWHUpSRPiKDMtOpSHY\XåtW
SRþtWDþRYêV\VWpP
8SR]RUQČQt
9êVWUDKD
7HQWRV\PEROR]QDþXMHLQIRUPDFHNWHUp
9iåQpSĜt]QDN\ÄY\SiOHQt³ÄGRVYLWX³QHER
Ä]REUD]HQtGXFKĤ³QH]PL]tDQHO]HMHRSUDYLW REMDVĖXMtMDNVHY\KQRXWPRåQpPX
SRãNR]HQt]DĜt]HQtQHER]WUiWČGDW
1DYêãHXYHGHQpSRãNR]HQtVHQHY]WDKXMH
]iUXND
9êVWUDKD
7HQWRV\PEROR]QDþXMHQHEH]SHþtWČOHVQpKR
XEOtåHQtDY\VYČWOXMHMDNVHGDQpPX
6HUYLV
SUREOpPXY\KQRXW
‡ .U\WSOiãWČPĤåHRWHYĜtWSRX]H
1ČNWHUpYêVWUDK\VHPRKRXREMHYLWYUĤ]Qp
NYDOLILNRYDQêVHUYLVQtSUDFRYQtN
SRGREČDQHPXVtEêWXYR]HQ\V\PEROHP
‡ 3RNXGMHSURRSUDYXY\åDGRYiQD
9WDNRYpPSĜtSDGČMHNRQNUpWQtY\]QDþHQt
GRNXPHQWDFHQHERLQWHJUDFHREUDĢWH
YêVWUDK\QDĜt]HQR~ĜDGHPSURUHJXODFL
VHQDQHMEOLåãtVHUYLVQtVWĜHGLVNR9L]
NDSLWRODÄ6WĜHGLVNR]iND]QLFNpSpþH³
‡ ,QIRUPDFHRSĜHYiåHQtQDMGHWHYþiVWL
Ä7HFKQLFNp~GDMH³
‡ 1HSRQHFKiYHMWHPRQLWRUYDXWČQHERY
]DYD]DGORYpPSURVWRUXDXWDQDSĜtPpP
VOXQFL
3OHDVHILQGRXWDERXWWKHORFDOUHJXODWLRQV
RQKRZWRGLVSRVHRI\RXUROGPRQLWRUDQG
SDFNLQJIURP\RXUVDOHVUHSUHVHQWDWLYH
5HF\FOLQJ,QIRUPDWLRQIRU&XVWRPHUV
7KHUHLVFXUUHQWO\DV\VWHPRIUHF\FOLQJ
XSDQGUXQQLQJLQWKH(XURSHDQFRXQWULHV
VXFKDV7KH1HWKHUODQGV%HOJLXP1RUZD\
6ZHGHQDQG'HQPDUN
,Q$VLD3DFLILF7DLZDQWKHSURGXFWVFDQ
EHWDNHQEDFNE\(QYLURQPHQW3URWHFWLRQ
$GPLQLVWUDWLRQ(3$WRIROORZWKH,7SURGXFW
UHF\FOLQJPDQDJHPHQWSURFHVVGHWDLOFDQ
EHIRXQGLQZHEVLWHZZZHSDJRYWZ
7KHPRQLWRUFRQWDLQVSDUWVWKDWFRXOG
FDXVHGDPDJHWRWKHQDWXUHHQYLURQPHQW
7KHUHIRUHLWLVYLWDOWKDWWKHPRQLWRULV
UHF\FOHGDWWKHHQGRILWVOLIHF\FOH
)RUKHOSDQGVHUYLFHSOHDVHFRQWDFW
&RQVXPHUV,QIRUPDWLRQ&HQWHURU)UVW
&KRLFH&RQWDFW,QIRUPDWLRQ&HQWHULQHDFK
FRXQWU\
/LNYLGDFHSURGXNWXDREDORYpKR
PDWHULiOX
:DVWH(OHFWULFDODQG(OHFWURQLF
(TXLSPHQW:(((
7KLVPDUNLQJRQWKHSURGXFWRURQLWV
SDFNDJLQJLOOXVWUDWHVWKDWXQGHU(XURSHDQ
'LUHFWLYH(&JRYHUQLQJXVHG
HOHFWULFDODQGHOHFWURQLFDSSOLDQFHVWKLV
SURGXFWPD\QRWEHGLVSRVHGRIZLWKQRUPDO
KRXVHKROGZDVWH<RXDUHUHVSRQVLEOH
IRUGLVSRVDORIWKLVHTXLSPHQWWKURXJKD
GHVLJQDWHGZDVWHHOHFWULFDODQGHOHFWURQLF
HTXLSPHQWFROOHFWLRQ7RGHWHUPLQHWKH
ORFDWLRQVIRUGURSSLQJRIIVXFKZDVWH
HOHFWULFDODQGHOHFWURQLFFRQWDFW\RXUORFDO
JRYHUQPHQWRIILFHWKHZDVWHGLVSRVDO
RUJDQL]DWLRQWKDWVHUYHV\RXUKRXVHKROG
RUWKHVWRUHDWZKLFK\RXSXUFKDVHGWKH
SURGXFW
<RXUQHZPRQLWRUFRQWDLQVPDWHULDOVWKDW
FDQEHUHF\FOHGDQGUHXVHG6SHFLDOL]HG
FRPSDQLHVFDQUHF\FOH\RXUSURGXFWWR
LQFUHDVHWKHDPRXQWRIUHXVDEOHPDWHULDOV
DQGWRPLQLPL]HWKHDPRXQWWREHGLVSRVHG
RI
$OOUHGXQGDQWSDFNLQJPDWHULDOKDVEHHQ
RPLWWHG:HKDYHGRQHRXUXWPRVWWRPDNH
WKHSDFNDJLQJHDVLO\VHSDUDEOHLQWRPRQR
PDWHULDOV
6HVWDYHQtPRQLWRUX
,QVWDODFH
2EVDKNUDELFH
((/
2. 8FKRSWH]iNODGQXPRQLWRUXREČPD
UXNDPDDSHYQČML]DVXĖWHGRVORXSNX
PRQLWRUX
202E2/202EL2
202E
šǕ
Ȳ žšǕǗ €š“ȯ €ȯ ›Ǔf‚ȡ^Œ
Ȳ 
Q ȡ”“
€“€
ȯ Š
Q
žšQ˜ ‘€Ÿ
Q ȡ ˜ȡ™Ȫ‡Ǔ €šȲȯ
Monitor
Quick start guide
CLICK!
Monitor
Base Stand
Power cord
EDFU CD
VGA signal cable
1RWH
8VHRQO\WKH$&'&DGDSWHUPRGHO
$'3&)63'*$$/&$3)
1DPRQWXMWHVWRMiQHNSRGVWDYFH
((/
1. 8PtVWČWHPRQLWRUREUD]RYNRXGROĤ
QDPČNNêSRGNODGDE\QHGRãORN
SRãNUiEiQtREUD]RYN\
3ĜLSRMHQtNSRþtWDþL
2YOiGiQtPRQLWRUX
3RSLVYêURENX]þHOQtKRSRKOHGX
202E
$&1DSiMHFtNRQHNWRU
9VWXS9*$
9VWXS'9,'NGLVSR]LFLSURY\EUDQê
PRGHO
=iPHNSURWLNUiGHåL.HQVLQJWRQ
3ĜLSRMHQtNSRþtWDþL
1.
2.
3.
4.
5.
9\YROiQt26'QDEtGN\
1iYUDWQDSĜHGFKR]t~URYHĖ
26'
3ĜHSQXWtQD]REUD]HQt
=DSQXWtY\SQXWtPRQLWRUX
1DVWDYHQt26'QDEtGN\
3ĜHSQXWtYVWXSXVLJQiOX
6PDUW,PDJH/LWH1DEt]tWĜL
UHåLP\VWDQGDUGQtLQWHUQHWRYêD
KHUQt
3HYQČSĜLSRMWHQDSiMHFtNDEHON
]DGQtVWUDQČPRQLWRUX
9\SQČWHSRþtWDþDRGSRMWHMHKR
QDSiMHFtNDEHO
3ĜLSRMWHVLJQiORYêNDEHOPRQLWRUX
GRYLGHRNRQHNWRUXQD]DGQtVWUDQČ
SRþtWDþH
=DSRMWHQDSiMHFtNDEHOSRþtWDþHD
PRQLWRUXGRQHMEOLåãt]iVXYN\
=DSQČWHSRþtWDþDPRQLWRU-HVWOLåH
VHQDPRQLWRUXREMHYtREUD]
LQVWDODFHMHGRNRQþHQD
5
3RSLV]REUD]HQtIXQNFtQDREUD]RYFH
1DEtGND26'
1tåHMHXYHGHQFHONRYêSRKOHGQDVWUXNWXUX
26'7HQWRSĜHKOHGPĤåHWHY\XåtWEXGHWHOL
FKWtWSR]GČMLSUR]NRXPDWUĤ]QiQDVWDYHQt
&RMHQDEtGNDQDREUD]RYFH26'"
)XQNFtQDEtGN\REUD]RYN\2Q6FUHHQ
'LVSOD\26'MVRXY\EDYHQ\YãHFKQ\
PRQLWRU\/&'3KLOLSV8PRåĖXMHNRQFRYpPX
XåLYDWHOLXSUDYRYDWYODVWQRVWLREUD]RYN\
QHERY\EtUDWIXQNFHPRQLWRUXSĜtPR
SURVWĜHGQLFWYtP]REUD]HQpKRRNQDVSRN\Q\
1tåHMHXYHGHQSĜtNODGSĜtMHPQpKRUR]KUDQt
REUD]RYN\
Main menu
Sub menu
Auto
Input
VGA
DVI (available for selective models)
Picture
Color
Picture Format
Wide screen,4:3
Brightness
0~100
Contrast
0~100
SmartContrast
On, Off
Color Temp.
6500K, 9300K
sRGB
User Define
Red: 0~100
Green: 0~100
=iNODGQtDMHGQRGXFKpSRN\Q\N
RYOiGDFtPWODþtWNĤP
Blue: 0~100
Language
English Español, Français, Deutsch, Italiano,
Português, Русский ㇵԧЁ᭛Türkçe
9HYêãHXYHGHQpQDEtGFHREUD]RYN\26'
PRKRXXåLYDWHOpSRPRFtWODþtWHN QD
SĜHGQtPUiPXPRQLWRUXSRK\ERYDWNXU]RUHP
OKSRWYU]RYDWYêEČUQHER]PČQX
OSD Setting
Setup
Horizontal
0~100
Vertical
0~100
Transparency
Off, 1, 2, 3, 4
OSD Time out
5, 10, 20, 30, 60
Phase
0~100
Clock
0~100
H. Position
0~100
V. Position
0~100
Resolution Notification
On, Off
Reset
Yes, No
Information
6
'HPRQWiå]iNODGQ\DSRGVWDYFH
3R]QiPNDNUR]OLãHQt
'HPRQWiå]iNODGQ\
7HQWRPRQLWRUMHXUþHQSURRSWLPiOQtYêNRQ
SĜLQDWLYQtPUR]OLãHQt[SĜL+]
.G\åMHPRQLWRU]DSQXWSĜLMLQpPUR]OLãHQtQD
REUD]RYFHVH]REUD]tYêVWUDKD3URRSWLPiOQt
YêVOHGHNSRXåLMWHUR]OLãHQt[SĜL
+]
=REUD]RYiQtYêVWUDK\QDQDWLYQtUR]OLãHQtO]H
Y\SQRXWYþiVWL1DVWDYHQtYQDEtGFH26'
3ĜHG]DKiMHQtPGHPRQWiåH]iNODGQ\
PRQLWRUXVLSĜHþWČWHQiVOHGXMtFtSRN\Q\DE\
QHGRãORNSRãNR]HQtQHERSRUDQČQt
3RORåWHPRQLWRUREUD]RYNRXGROĤQD
URYQêSRYUFKSĜLWRPGHMWHSR]RUDE\VWH
REUD]RYNXQHSRãNUiEDOL.
)\]LFNpIXQNFH
1iNORQ
6WLVNQČWH]iSDGN\DRGGČOWH]iNODGQXRG
VORXSNXPRQLWRUX.
((/
7
'HPRQWiå]iNODGQ\
3R]QiPND
7HQWRPRQLWRUMHNRPSDWLELOQtVPP[
PPPRQWiåQtPUR]KUDQtPNRPSDWLELO
QtPVHVWDQGDUGHP9(6$
3RGPtQND
v3URGUåiN\GOHQRUP\9(6$
6HMPČWHNU\WN\ãURXEĤ
100mm
100mm
9\MPČWHãURXE\DSDNRGGČOWH]iNODGQX
RGPRQLWRUX
8
-DNDNWLYRYDW6PDUW,PDJH"
,QIRUPDFHRSURGXNWX
202E
6PDUW,PDJH
&RMHWR"
)XQNFH6PDUW,PDJHQDEt]tVFpQiĜH
NWHUpRSWLPDOL]XMt]REUD]HQtUĤ]QêFKW\SĤ
REVDKXDG\QDPLFN\]OHSãXMHMDVNRQWUDVW
EDUY\DRVWURVWYUHiOQpPþDVH)XQNFH
3KLOLSV6PDUW,PDJHSĜLQiãtRSWLPDOL]RYDQp
]REUD]HQtPRQLWRUXEH]RKOHGXQDWR]GD
SUDFXMHWHVDSOLNDFHPLSURKOtåtWHREUi]N\
QHERVOHGXMHWHYLGHR
1. 6WLVNQXWtP
REUD]RYFH
VH6PDUW,PDJH]REUD]tQD
2. 2SDNRYDQêPVWLVNQXWtP PĤåHWH
SĜHStQDWPH]LUHåLP\6WDQGDUG
6WDQGDUGQt,QWHUQHW*DPH+UD
3URþWRSRWĜHEXML"
3URWRåHFKFHWHVOHGRYDWPRQLWRUNWHUê
SĜLQiãtRSWLPDOL]RYDQp]REUD]HQtYãHFK
YDãLFKREOtEHQêFKW\SĤREVDKX6RIWZDUH
6PDUW,PDJHG\QDPLFN\XSUDYXMHMDV
NRQWUDVWEDUY\DRVWURVWYUHiOQpPþDVHSUR
GRVDåHQtQHMOHSãtKR]iåLWNX]HVOHGRYiQt
PRQLWRUX
3. =REUD]HQt6PDUW,PDJH]ĤVWDQHQD
REUD]RYFHSRGREXVHNXQGQHER
PĤåHWHURYQČåSRWYUGLWVWLVNQXWtPWODþtWND
Ä2.³
4. 3RDNWLYDFLWHFKQRORJLH6PDUWOPDJH
MHDXWRPDWLFN\GHDNWLYRYiQRVFKpPD
V5*%$E\E\ORPRåQpSRXåtWVFKpPD
V5*%MHWĜHEDGHDNWLYRYDWIXQNFL
6PDUWOPDJHVWLVNQXWtPWODþtWND QD
SĜHGQtPSDQHOXPRQLWRUX
-DNWRIXQJXMH"
6PDUW,PDJHH[NOX]LYQtãSLþNRYiWHFKQRORJLH
VSROHþQRVWL3KLOLSVNWHUiDQDO\]XMHREVDK
]REUD]HQêQDREUD]RYFH1D]iNODGČYiPL
]YROHQpKRVFpQiĜHWHFKQRORJLH6PDUW,PDJH
G\QDPLFN\]OHSãXMHNRQWUDVWV\WRVWEDUHYD
RVWURVWREUD]XSURY\OHSãHQt]REUD]RYDQpKR
REVDKX±YãHYUHiOQpPþDVHVWLVNQXWtP
MHGLQpKRWODþtWND
.URPČWODþtWND SURSURFKi]HQtGROĤ
PĤåHWHURYQČåSURYpVWYêEČUVWLVNQXWtP
WODþtWHN
SRWYUGLWYêEČUVWLVNQXWtPWODþtWND
„OK³DXNRQþLWQDEtGNX6PDUW,PDJH26'
6PDUWFRQWUDVW
.YêEČUXMVRXUHåLP\6WDQGDUG
6WDQGDUGQt,QWHUQHW*DPH+UD
&RMHWR"
‡ 6WDQGDUG6WDQGDUGQt: 9\OHSãXMHWH[W
DVQLåXMHMDVSUR]YêãHQtþLWHOQRVWLD
RPH]HQtQDPiKiQt]UDNX7HQWRUHåLP
SRGVWDWQČ]Y\ãXMHþLWHOQRVWDSURGXNWLYLWX
SĜLSUiFLVWDEXONDPLVRXERU\3')
VNHQRYDQêPLþOiQN\QHERMLQêPL
REHFQêPLNDQFHOiĜVNêPLDSOLNDFHPL
‡ ,QWHUQHW7HQWRSURILONRPELQXMH
Y\OHSãHQtV\WRVWLEDUHYG\QDPLFNpKR
NRQWUDVWXDRVWURVWLSUR]REUD]HQt
IRWRJUDILtDGDOãtFKREUi]NĤVY\QLNDMtFt
þLVWRWRXYåLYêFKEDUYiFK±WRYãHEH]
DUWHIDNWĤDY\EOHGOêFKEDUHY
v *DPH+UD7HQWRSURILOSĜLQiãtQHMOHSãt
KHUQt]iåLWHNSURKUiþHSURWRåHDNWLYXMH
SĜHEX]HQêRNUXKSURRSWLPiOQtGREX
RGH]Y\RPH]HQt]XEDWêFKRNUDMĤU\FKOH
VHSRK\EXMtFtFKREMHNWĤQDREUD]RYFHD
Y\OHSãHQtNRQWUDVWQtKRSRPČUXSURMDVQp
DWPDYpVFpQ\
-HGLQHþQiWHFKQRORJLHNWHUiG\QDPLFN\
DQDO\]XMH]REUD]HQêREVDKDDXWRPDWLFN\
RSWLPDOL]XMHNRQWUDVWQtSRPČUPRQLWRUX/&'
SURPD[LPiOQtYL]XiOQtþLVWRWXDSRåLWHN]H
VOHGRYiQt=Y\ãXMHSRGVYtFHQtSURMDVQČMãt
RVWĜHMãtDMDVQČMãtREUD]QHERVQLåXMH
SRGVYtFHQtSURMDVQp]REUD]HQtREUD]XV
WPDYêPSR]DGtP
3URþWRSRWĜHEXML"
äiGiWHQHMY\ããtYL]XiOQtþLVWRWXDSRKRGOt
VOHGRYiQtMDNpKRNROLW\SXREVDKX
6PDUW&RQWUDVWG\QDPLFN\ĜtGtNRQWUDVWD
XSUDYXMHSRGVYtFHQtSURMDVQpRVWUpDMDVQp
]REUD]HQtKHUDYLGHDQHERSUR]REUD]HQt
MDVQpKRþLWHOQpKRWH[WXSURNDQFHOiĜVNRX
SUiFL2PH]HQtPVSRWĜHE\PRQLWRUX
ãHWĜtWHQiNODG\DSURGOXåXMHWHåLYRWYDãHKR
PRQLWRUX
-DNWRIXQJXMH"
3RDNWLYDFLEXGHIXQNFH6PDUW&RQWUDVWY
UHiOQpPþDVHDQDO\]RYDW]REUD]HQêREVDKD
XSUDYRYDWEDUY\DĜtGLWLQWHQ]LWXSRGVYtFHQt
7DWRIXQNFHEXGHG\QDPLFN\Y\OHSãRYDW
NRQWUDVWSURVNYČOê]iåLWHNSĜLSURKOtåHQt
IRWRJUDILtQHERKUDQtKHU
3UYQtVSXãWČQt±3UĤYRGFH
‡ 3ĜLSUYQtPVSXãWČQtSRLQVWDODFLSĜHMGH
1RYêVRIWZDUH6PDUW&RQWURO/LWHRG
6PDUW&RQWURO/LWHDXWRPDWLFN\QD:L]DUG
VSROHþQRVWL3KLOOLSVXPRåĖXMHRYOiGDW
3UĤYRGFH
PRQLWRUSURVWĜHGQLFWYtPVQDGQRSRXåLWHOQpKR ‡ 7HQWRSUĤYRGFHYiVSURYHGHSRGUREQêP
JUDILFNpKRUR]KUDQtQDREUD]RYFH6ORåLWi
QDVWDYHQtPYêNRQXPRQLWRUX
QDVWDYHQtMVRXPLQXORVWtSURWRåHWHQWR
‡ 3UĤYRGFHPĤåHWHURYQČåVSXVWLWSR]GČML
XåLYDWHOVNêSĜtMHPQêVRIWZDUHYiVSURYHGH
]QDEtGN\3OXJLQ=iVXYQêPRGXO
MHPQêPY\ODGČQtPUR]OLãHQtNDOLEUDFtEDUHY ‡ 'DOãtPRåQRVWLPĤåHWHQDVWDYLWEH]
QDVWDYHQtPIUHNYHQFHIi]HQDVWDYHQtP
SUĤYRGFHSURVWĜHGQLFWYtPSRGRNQD
EtOpKRERGX5*%DWG
6WDQGDUG6WDQGDUGQt
3KLOLSV6PDUW&RQWURO/LWH
7HQWRVRIWZDUH]DORåHQêQDSĜLWDåOLYêFK
DQLPRYDQêFKLNRQiFKNRPSDWLELOQtVH
V\VWpPHP:LQGRZVNWHUêMHY\EDYHQ
QHMQRYČMãtWHFKQRORJLtYMiGURYpPDOJRULWPX
SURU\FKOp]SUDFRYiQtDRGH]YXMHSĜLSUDYHQ
UR]ãtĜLWYDãL]NXãHQRVWVPRQLWRU\3KLOLSV
,QVWDODFH
‡ 3RVWXSXMWHSRGOHSRN\QĤDGRNRQþHWH
LQVWDODFL
‡ 0ĤåHWHVSXVWLWSRGRNRQþHQtLQVWDODFH
‡ &KFHWHOLVSXVWLWSR]GČMLPĤåHWH
NOHSQRXWQD]iVWXSFHQDSUDFRYQtSORãH
QHERQDSDQHOQiVWURMĤ
6SXãWČQtVSRGRNQHP6WDQGDUG
6WDQGDUGQt
1DEtGND$GMXVW1DVWDYHQt
‡ 1DEtGND$GMXVW1DVWDYHQtXPRåĖXMH
XSUDYLW%ULJKWQHVV-DV&RQWUDFW
.RQWUDVW)RFXV2KQLVNR3RVLWLRQ
3RORKDD5HVROXWLRQ5R]OLãHQt
‡ 0ĤåHWHSRVWXSRYDWSRGOHSRN\QĤD
SURYpVWQDVWDYHQt
‡ &DQFHO6WRUQRY\]tYiXåLYDWHOHFKFHWH
OLXNRQþLWLQVWDODFL
1DEtGND&RORU%DUYD
‡ 1DEtGND&RORU%DUYDXPRåĖXMHXSUDYLW
5*%%ODFN/HYHOÒURYHĖþHUQp
:KLWH3RLQW%tOêERG&RORU&DOLEUDWLRQ
.DOLEUDFHEDUHYD6PDUW,PDJHYL]þiVW
6PDUW,PDJH
‡ 0ĤåHWHSRVWXSRYDWSRGOHSRN\QĤD
SURYpVWQDVWDYHQt
‡ 9QiVOHGXMtFtWDEXOFHY\KOHGHMWHSRORåNX
SRGQDEtGN\QD]iNODGČYDãHKRYVWXSX
‡ 3ĜtNODGSUR&RORU&DOLEUDWLRQ.DOLEUDFH
EDUHY
1. 7ODþtWNRÄ6KRZ0H³3ĜHGYpVWVSXVWt
YêXNRYêSURJUDPSURNDOLEUDFLEDUHY
2. 6WDUW±]DKiMtVHNYHQFLNDOLEUDFHEDUHYR
NURFtFK
3. 4XLFN9LHZ5\FKOp]REUD]HQtQDþWH
]REUD]HQtSĜHGSR
4. &KFHWHOLVHYUiWLWQDKODYQtVWUiQNX&RORU
%DUYDNOHSQČWHQDWODþtWNR&DQFHO
6WRUQR
5. (QDEOHFRORUFDOLEUDWLRQ3RYROLWNDOLEUDFL
EDUHY±YHYêFKR]tNRQILJXUDFLMH
]DSQXWR3RNXGWDWRSRORåNDQHQt
]DãNUWQXWDNDOLEUDFLEDUHYQHO]HSURYpVW
DWODþtWND6WDUWD4XLFN9LHZ5\FKOp
]REUD]HQtQHMVRXNGLVSR]LFL
6. 1DNDOLEUDþQtREUD]RYFHPXVtEêW
]REUD]HQ\LQIRUPDFHRSDWHQWHFK
&DOLEUDWLRQ6FUHHQ2EUD]RYNDNDOLEUDFH
SUYQtEDUY\
‡ 7ODþtWNR3UHYLRXV3ĜHGFKR]tMH
GHDNWLYRYiQRDåQDREUD]RYNXGUXKp
EDUY\
‡ 7ODþtWNR1H[W'DOãtVORXåtNSĜHFKRGX
QDQiVOHGXMtFtFtOFtOĤ
‡ 7ODþtWNR)LQDO.RQHþQêVORXåtN
SĜHFKRGXQD)LOH6RXERU!SRGRNQR
3UHVHWV3ĜHGYROE\
‡ 7ODþtWNR&DQFHO6WRUQRVORXåtN
XNRQþHQtXåLYDWHOVNpKRUR]KUDQtDN
QiYUDWXQDVWUiQNX]iVXYQêFKPRGXOĤ
SOXJLQ
2SWLRQV!3UHIHUHQFHV
0RåQRVWL!3ĜHGYROE\±7DWRPRåQRVWEXGH
DNWLYQtSRX]HSRYêEČUXSRORåN\3UHIHUHQFHV
3ĜHGYROE\YUR]HYtUDFtQDEtGFH2SWLRQV
0RåQRVWL1DQHSRGSRURYDQpP
]REUD]RYDFtP]DĜt]HQtVSRGSRURX''&&,
MVRXNGLVSR]LFLSRX]HNDUW\+HOS1iSRYČGD
D2SWLRQV0RåQRVWL
6PDUW,PDJH
6PDUW,PDJH±XPRåĖXMHXåLYDWHOL]PČQLW
QDVWDYHQtSURY\OHSãHQt]REUD]HQtQD
]iNODGČREVDKX
.G\åMHQDVWDYHQDPRåQRVW(QWHUWDLQPHQW
=iEDYDMVRXSRORåN\6PDUW&RQWUDVWD
6PDUW5HVSRQVHNGLVSR]LFL
‡ =REUD]tQDVWDYHQtDNWXiOQtFKSĜHGYROHE
‡ =DãNUWQXWpWODþtWNRDNWLYXMHIXQNFL
=DãNUWiYDFtSROtþNRMHSĜHStQDþ
‡ 3RORåND(QDEOH&RQWH[W0HQX3RYROLW
PtVWQtQDEtGNXQDSUDFRYQtSORãH
MHYHYêFKR]tNRQILJXUDFL]DãNUWQXWi
=DSQXWR3RDNWLYDFLSRORåN\(QDEOH
&RQWH[W0HQX3RYROLWPtVWQtQDEtGNX
VH]REUD]tYêEČU\6PDUW&RQWURO/LWHSUR
IXQNFH6HOHFW3UHVHW9\EUDWSĜHGYROEX
D7XQLQJ'LVSOD\/DGČQt]REUD]HQt
QDSUDFRYQtSORãHNOHSQXWtPSUDYêP
WODþtWNHPP\ãLQDPtVWQtQDEtGNX9ROERX
PRåQRVWL'LVDEOHG'HDNWLYRYiQREXGH
SRORåND6PDUW&RQWURO/LWHRGVWUDQČQD]
PtVWQtQDEtGN\SUDYêPWODþtWNHPP\ãL
‡ 3RORåND(QDEOH7DVN7UD\3RYROLW
LNRQXQDKODYQtPSDQHOXMHYHYêFKR]t
NRQILJXUDFL]DãNUWQXWi=DSQXWR3R
DNWLYDFLSRORåN\3RYROLWPtVWQtQDEtGNX
VH]REUD]tQDEtGND6PDUW&RQWURO/LWH
QDKODYQtPSDQHOX.OHSQXWtPSUDYêP
WODþtWNHPP\ãLQDLNRQXQDKODYQtP
SDQHOXVH]REUD]tPRåQRVWLQDEtGN\+HOS
1iSRYČGD7HFKQLFDO6XSSRUW2GERUQi
SRPRF3URKOpGQČWHVLSRORåN\8SJUDGH
$NWXDOL]DFH$ERXW2DSOLNDFLD([LW
.RQHF.G\åMHGHDNWLYRYiQDSRORåND
(QDEOHWDVNWUD\PHQX3RYROLWQDEtGNX
QDKODYQtPSDQHOXLNRQDQDKODYQtP
SDQHOX]REUD]XMHSRX]HPRåQRVW(;,7
.21(&
‡ 3RORåND5XQDW6WDUWXS6SXVWLWSĜLVWDUWX
MHYHYêFKR]tNRQILJXUDFL]DãNUWQXWi
=DSQXWR.G\åMHWDWRSRORåND
GHDNWLYRYiQDIXQNFH6PDUW&RQWURO/LWH
VHQHVSXVWtSĜLVWDUWXQHERQHEXGHQD
KODYQtPSDQHOX)XQNFL6PDUW&RQWURO
/LWHO]HVSXVWLWSRX]HSURVWĜHGQLFWYtP
]iVWXSFHQDSUDFRYQtSORãHQHER
SURVWĜHGQLFWYtPVRXERUXSURJUDPX
.G\åWRWRSROtþNRQHQt]DãNUWQXWp
'HDNWLYRYiQRåiGQiSĜHGYROED
QDVWDYHQiSURVSXãWČQtSĜLVWDUWXQHEXGH
QDþWHQD
‡ $NWLYRYDWUHåLPSUĤKOHGQRVWL:LQGRZV
9LVWD;39êFKR]tQDVWDYHQtMH
QHSUĤKOHGQRVW
2SWLRQV!,QSXW0RåQRVWL!9VWXS±7DWR
PRåQRVWEXGHDNWLYQtSRX]HSRYêEČUX
SRORåN\,QSXW9VWXSYUR]HYtUDFtQDEtGFH
2SWLRQV0RåQRVWL1DQHSRGSRURYDQpP
]REUD]RYDFtP]DĜt]HQtVSRGSRURX''&&,
MVRXNGLVSR]LFLSRX]HNDUW\+HOS1iSRYČGD
D2SWLRQV0RåQRVWLäiGQpGDOãtNDUW\
IXQNFH6PDUW&RQWURO/LWHQHMVRXNGLVSR]LFL
‡ =REUD]tSRGRNQRVSRN\Q\6RXUFH=GURM
DQDVWDYHQtDNWXiOQtKR]GURMHYVWXSX
‡ 8]REUD]RYDFtFK]DĜt]HQtVMHGQtP
YVWXSHPQHQtWRWRSRGRNQR]REUD]HQR
2SWLRQV!$XGLR0RåQRVWL!=YXN±7DWR
PRåQRVWEXGHDNWLYQtSRX]HSRYêEČUX
SRORåN\9ROXPH+ODVLWRVWYUR]HYtUDFt
QDEtGFH2SWLRQV0RåQRVWL
1DQHSRGSRURYDQpP]REUD]RYDFtP]DĜt]HQt
VSRGSRURX''&&,MVRXNGLVSR]LFLSRX]H
NDUW\+HOS1iSRYČGDD2SWLRQV0RåQRVWL
+HOS!8VHU0DQXDO1iSRYČGD!
8åLYDWHOVNiSĜtUXþND±7DWRPRåQRVW
EXGHDNWLYQtSRX]HSRYêEČUXSRORåN\
8VHU0DQXDO8åLYDWHOVNiSĜtUXþNDY
UR]HYtUDFtQDEtGFH+HOS1iSRYČGD1D
QHSRGSRURYDQpP]REUD]RYDFtP]DĜt]HQt
VSRGSRURX''&&,MVRXNGLVSR]LFLSRX]H
NDUW\+HOS1iSRYČGDD2SWLRQV0RåQRVWL
+HOS!9HUVLRQ1iSRYČGD!9HU]H
±7DWRPRåQRVWEXGHDNWLYQtSRX]H
SRYêEČUXSRORåN\9HUVLRQ9HU]HY
UR]HYtUDFtQDEtGFH+HOS1iSRYČGD
1DQHSRGSRURYDQpP]REUD]RYDFtP
]DĜt]HQtVSRGSRURX''&&,MVRXN
GLVSR]LFLSRX]HNDUW\+HOS1iSRYČGD
D2SWLRQV0RåQRVWL
$NWLYRYDQiQDEtGNDKODYQtKRSDQHOX
1DEtGNXKODYQtKRSDQHOXO]H]REUD]LW
NOHSQXWtPSUDYêPWODþtWNHPP\ãLQD
LNRQX6PDUW&RQWURO/LWHQDKODYQtP
SDQHOX.OHSQXWtPOHYêPWODþtWNHPO]H
VSXVWLWDSOLNDFL
&RQWH[W6HQVLWLYHPHQX0tVWQt
QDEtGND
&RQWH[W6HQVLWLYHPHQX0tVWQtQDEtGND
MHYHYêFKR]tNRQILJXUDFL(QDEOHG
$NWLYRYiQD1DEtGNDEXGH]REUD]HQD
SR]DãNUWQXWtSRORåN\(QDEOH&RQWH[W
0HQX3RYROLWPtVWQtQDEtGNXYþiVWL
2SWLRQV0RåQRVWL!SRGRNQR3UHIHUHQFHV
3ĜHGYROE\
+ODYQtSDQHOREVDKXMHSČWSRORåHN
‡ +HOS1iSRYČGD±SĜtVWXSN
VRXERUXVXåLYDWHOVNRXSĜtUXþNRX
2WHYĜHVRXERUVXåLYDWHOVNRX
SĜtUXþNRXYRNQČYêFKR]tKR
SURKOtåHþH
‡ 7HFKQLFDO6XSSRUW2GERUQiSRPRF
±]REUD]tVWUiQNXRGERUQpSRPRFL
‡ &KHFNIRU8SGDWH9\KOHGDW
DNWXDOL]DFH±]REUD]t~YRGQt
VWUiQNX3',DSRURYQiYHU]L
XåLYDWHOHVQHMDNWXiOQČMãtGRVWXSQRX
YHU]t
‡ $ERXW2DSOLNDFL±]REUD]t
SRGUREQpUHIHUHQþQtLQIRUPDFH
YHU]HSURGXNWXLQIRUPDFHRY\GiQt
DQi]HYSURGXNWX
‡ ([LW.RQHFXNRQþt6PDUW&RQWURO
/LWH
&KFHWHOL]QRYXVSXVWLWIXQNFL
6PDUW&RQWUROO/LWHY\EHUWHSRORåNX
6PDUW&RQWUROO/LWH]QDEtGN\
3URJUDPSRNOHSHMWHQDLNRQXQD
SUDFRYQtSORãHSRþtWDþHQHER
UHVWDUWXMWHSRþtWDþ
&RQWH[W0HQX0tVWQtQDEtGNDREVDKXMH
þW\ĜLSRORåN\
‡ 6PDUW&RQWURO/LWHSRYêEČUXVH
]REUD]t$ERXW6FUHHQ2EUD]RYND2
DSOLNDFL
‡ 6HOHFW3UHVHW9\EUDWSĜHGYROEX
±QDEt]tKLHUDUFKLFNRXQDEtGNX
XORåHQêFKSĜHGYROHESURRNDPåLWp
SRXåLWt$NWXiOQČY\EUDQiSĜHGYROED
MHR]QDþHQD]DãNUWQXWtP9UR]HYtUDFt
QDEtGFHO]HURYQČåY\EUDWSRORåNX
)DFWRU\3UHVHW3ĜHGYROE\YêUREFH
‡ 7XQH'LVSOD\/DGČQt]REUD]HQt±
RWHYĜHRYOiGDFtSDQHO6PDUW&RQWURO
/LWH
‡ 6PDUW,PDJH/LWH±]NRQWUROXMWHDNWXiOQt
QDVWDYHQt6WDQGDUG6WDQGDUGQt
,QWHUQHW*DPH+UD
'HDNWLYRYDQiQDEtGNDKODYQtKR
SDQHOX
.G\åMHKODYQtSDQHOGHDNWLYRYiQYH
VORåFH3UHIHUHQFH3ĜHGYROE\MHN
GLVSR]LFLSRX]HþiVW(;,7.21(&
&KFHWHOLIXQNFL6PDUW&RQWUROO/LWH]FHOD
RGVWUDQLW]KODYQtKRSDQHOXGHDNWLYXMWH
SRORåNX5XQ6SXVWLWSĜLVWDUWXYþiVWL
2SWLRQV0RåQRVWL!3UHIHUHQFHV
3ĜHGYROE\
3RVWXSSĜLYDGQêFKSL[HOHFKSORFKpKR VHW\WRWĜLVXESL[HO\MDNRMHGHQþHUQêSL[HO
'DOãtNRPELQDFHUR]VYtFHQêFKDWPDYêFK
SDQHOXVSROHþQRVWL3KLOLSV
VXESL[HOĤVHMHYtMDNRSL[HO\UĤ]QêFKEDUHY
6SROHþQRVW3KLOLSVVHVQDåtGRGiYDW
YêUREN\QHMY\ããtNYDOLW\3RXåtYiQČNROLN
'UXK\SL[HORYêFKYDG
QHMSRNURþLOHMãtFKYêUREQtFKSRVWXSĤYêURE\
9DG\SL[HOĤDVXESL[HOĤVHQDREUD]RYFH
YWRPWRRGYČWYtDSURVD]XMHSĜtVQRXNRQWUROX SURMHYXMtUĤ]QêPL]SĤVRE\([LVWXMtGYDGUXK\
NYDOLW\'HIHNWĤPSL[HOĤQHERVXESL[HOĤX
YDGSL[HOXDYUiPFLWČFKWRGUXKĤMHQČNROLN
SDQHOĤ7)7/&'NWHUpVHSRXåtYDMtSUR
W\SĤVXESL[HORYêFKYDG
SORFKpPRQLWRU\VHQLFPpQČQČNG\QHGi
]DEUiQLWåiGQêYêUREFHQHPĤåH]DUXþLW
'HIHNW\VYČWOêFKERGĤVHSURMHYXMtMDNR
åHåiGQêSDQHOQHEXGHREVDKRYDWYDGQp
REUD]RYpERG\QHERGtOþtREUD]RYpERG\
SL[HO\DOHVSROHþQRVW3KLOLSV]DUXþXMHåH
NWHUpYåG\VYtWtQHERMVRX
DNWLYQt
6YČWOê
NDåGêPRQLWRUVQHSĜLPČĜHQêPSRþWHP
ERGMHGtOþtREUD]RYêERGNWHUêY\VWXSXMH]
GHIHNWĤEXGHRSUDYHQQHERY\PČQČQY
REUD]RYN\NG\åMHQDPRQLWRUX]REUD]HQD
UiPFL]iUXN\7HQWRWH[WY\VYČWOXMHMHGQRWOLYp WPDYiSORFKD([LVWXMtQiVOHGXMtFtW\S\
GUXK\GHIHNWĤQDSL[HOHFKDXUþXMH~QRVQRX GHIHNWĤVYČWOêFKERGĤ
~URYHĖFK\ERYRVWLSURNDåGêGUXK$E\E\OR
PRåQpXSODWQLW]iUXþQtRSUDYXQHERYêPČQX
PXVtSRþHWFK\EQêFKSL[HOĤSDQHOX7)7
/&'SĜHViKQRXWWXWR~URYHĖ~QRVQRVWL1D
PRQLWRUX;*$QDSĜtNODGQHVPtEêWYtFH
GHIHNWQtFKVXESL[HOĤQHå'iOH
SURWRåHQČNWHUpW\S\NRPELQDFtYDGSL[HOĤ
MVRXOpSHSRVWĜHKQXWHOQpQHåMLQpVWDQRYXMH
SURQČVSROHþQRVW3KLOLSVMHãWČYČWãt
QiURN\QDNYDOLWX7DWRQRUPDVHGRGUåXMH
FHORVYČWRYČ
-HGHQþHUYHQê]HOHQêQHERPRGUêVXESL[HO
3L[HO\DVXESL[HO\
3L[HOQHEROLREUD]RYNRYêERGVHVNOiGi
]HWĜtVXESL[HOĤY]iNODGQtFKEDUYiFK
þHUYHQp]HOHQpDPRGUp.G\åMHPQRKR
SL[HOĤSRKURPDGČWYRĜtREUD].G\å
YãHFKQ\VXESL[HO\XUþLWpKRSL[HOXVYtWtMHYt
VHW\WRWĜLVXESL[HO\VSROHþQČMDNRMHGLQê
EtOêSL[HO.G\åMVRXYãHFKQ\WPDYpMHYt
'YDVRXQiOHåtFtVXESL[HO\
19
þHUYHQêPRGUê ILDORYê
þHUYHQê]HOHQê åOXWê
]HOHQêPRGUê VYČWOHPRGUê
7ĜLVRXQiOHåtFtUR]VYtFHQpVXESL[HO\MHGHQ
EtOêSL[HO
3R]QiPND
ýHUYHQêQHERPRGUêVYČWOêERGPXVtEêWR
YtFHQHåSURFHQWMDVQČMãtQHåVRXVHGQt
ERG\]HOHQêVYČWOêERGMHRSURFHQW
MDVQČMãtQHåVRXVHGQtERG\
'HIHNW\WPDYêFKERGĤVHSURMHYXMtMDNR
REUD]RYpERG\QHERGtOþtREUD]RYpERG\
NWHUpQLNG\QHVYtWtQHERMVRX
QHDNWLYQt
7PDYêERGMHGtOþtREUD]RYêERGNWHUê
Y\VWXSXMH]REUD]RYN\NG\åMHQDPRQLWRUX
]REUD]HQDVYČWOiSORFKD([LVWXMtQiVOHGXMtFt
W\S\GHIHNWĤWPDYêFKERGĤ
9]GiOHQRVWSL[HORYêFKYDG
3URWRåHYDG\SL[HOĤDVXESL[HOĤVWHMQpKR
W\SXNWHUpVHY\VN\WXMtEOt]NRVHEHPRKRX
EêWSDWUQČMãtXUþXMHVSROHþQRVW3KLOLSVL
WROHUDQFHQDY]GiOHQRVWYDGSL[HOĤ
7ROHUDQFHYDGSL[HOĤ
$E\E\ORPRåQpXSODWQLWRSUDYXQHER
YêPČQXNYĤOLYDGiPSL[HOĤY]iUXþQtGREČ
PXVtSDQHO7)7/&'YSORFKpPPRQLWRUX
3KLOLSVYDG\SL[HOĤQHERVXESL[HOĤNWHUp
SĜHNUDþXMtWROHUDQFHXYHGHQpYQiVOHGXMtFtFK
WDEXONiFK
.$=<-$61é&+%2'ģ
3ě,-$7(/1é32ý(79$'
02'(/
((/
WUYDOHVYtWtFtERG
VRXVHGQtWUYDOHVYtWtFtERG\
1
VRXVHGQtWUYDOHVYtWtFtERG\QHERWUYDOHVYtWtFtEtOêERG
9]GiOHQRVWPH]LGYČPDND]\MDVQêFKERGĤ
!PP
&HONRYêSRþHWND]ĤMDVQêFKERGĤYãHFKW\SĤ
.$=<ý(51é&+%2'ģ
02'(/
WPDYêERG
VRXVHGQtWPDYpERG\
VRXVHGQtWPDYpERG\
9]GiOHQRVWPH]LGYČPDND]\þHUQêFKERGĤ
&HONRYêSRþHWND]ĤþHUQêFKERGĤYãHFKW\SĤ
3ě,-$7(/1é32ý(79$'
((/
QHERPpQČ
QHERPpQČ
!PP
QHERPpQČ
.$=\ERGĤFHONHP
3ě,-$7(/1é32ý(79$'
02'(/
((/
&HONRYêSRþHWND]ĤMDVQêFKQHERþHUQêFKERGĤYãHFKW\SĤ
QHERPpQČ
3R]QiPND
QHERVRXVHGQtYDGQpERG\EDUYD YDGQêERG
7HQWRPRQLWRUMHNRPSDWLELOQtVHVWDQGDUGHP,62
7HFKQLFNp~GDMH
((/
2EUD]GLVSOHM
7\SSDQHOX/&'
3RGVYtFHQt
9HOLNRVWSDQHOX
3RPČUVWUDQ
5R]WHþREUD]RYêFKERGĤ
-DV
6PDUW&RQWUDVW
.RQWUDVWQtSRPČUW\S
'REDRGH]Y\W\SLFNi
2SWLPiOQtUR]OLãHQt
=RUQê~KHO
9\OHSãHQtREUD]X
%DUHYQRVWGLVSOHMH
9HUWLNiOQtREQRYRYDFt
IUHNYHQFH
+RUL]RQWiOQtIUHNYHQFH
V5*%
0RåQRVWLSĜLSRMHQt
9VWXSVLJQiOX
9VWXSQtVLJQiO
8VQDGQČQt
8VQDGQČQtSURXåLYDWHOH
-D]\N\QDEtGN\26'
'DOãtXVQDGQČQt
.RPSDWLELOLWDVWHFKQRORJLt
3OXJ3OD\
3RGVWDYHF
1iNORQ
7)7/&'
&&)/(/('(/
:FP
[PP
FGPð
((/
PV
[SĜL+]
ƒ+ƒ9SĜL&5!
6PDUW,PDJH/LWH
0
+]+]
N+]±N+]
$12
'9,'GLJLWiOQt+'&39*$DQDORJRYê
2GGČOHQiV\QFKURQL]DFHV\QFKURQL]DFHSRGOH]HOHQp
DQJOLþWLQDIUDQFRX]ãWLQDQČPþLQDLWDOãWLQDUXãWLQD
ãSDQČOãWLQD]MHGQRGXãHQiþtQãWLQDSRUWXJDOãWLQDWXUHFNê
]iPHN.HQVLQJWRQ
''&&,V5*%:LQGRZV9LVWD;30DF26;/LQX[
((/
1DSiMHQt(
=DSQXWR
6SRWĜHEDHQHUJLH
0HWRGDWHVWRYiQt
(QHUJ\6WDU
1RUPiOQtSURYR]W\S
6SiQHN
9\SQXWR
5R]SW\OWHSOD
%ČåQêSURYR]
6SiQHN
9\SQXWR
1DSiMHQt(/
=DSQXWR
6SRWĜHEDHQHUJLH
0HWRGDWHVWRYiQt
(QHUJ\6WDU
1RUPiOQtSURYR]W\S
6SiQHN
9\SQXWR
5R]SW\OWHSOD
%ČåQêSURYR]
6SiQHN
9\SQXWR
,QGLNiWRU/('QDSiMHQt
1DSiMHQt
5R]PČU\
9êUREHNVSRGVWDYFH
â[9[+
9êUREHNEH]SRGVWDYFH
â[9[+
5R]PČU\NUDELFHâ[9[+
+PRWQRVW
9êUREHNVSRGVWDYFHP
9êUREHNEH]SRGVWDYFH
9êUREHNVREDOHP
:W\S
6WĜtGDYpYVWXSQt
QDSČWtSĜL
9$&9$&
+]+]
:
:
:
6WĜtGDYpYVWXSQt
QDSČWtSĜL
9$&9$&
+]+]
%78KU
%78KU
%78KU
6WĜtGDYpYVWXSQt
QDSČWtSĜL
9$&9$&
+]+]
:
:
:
6WĜtGDYpYVWXSQt
QDSČWtSĜL
9$&9$&
+]+]
%78KU
%78KU
%78KU
6WĜtGDYpYVWXSQt
QDSČWtSĜL
9$&9$&
+]+]
:
:
:
6WĜtGDYpYVWXSQt
QDSČWtSĜL
9$&9$&
+]+]
%78KU
%78KU
%78KU
:W\S
6WĜtGDYpYVWXSQt 6WĜtGDYpYVWXSQt 6WĜtGDYpYVWXSQt
QDSČWtSĜL
QDSČWtSĜL
QDSČWtSĜL
9$&9$&
9$&9$&
9$&9$&
+]+]
+]+]
+]+]
:
:
:
:
:
:
:
:
:
6WĜtGDYpYVWXSQt 6WĜtGDYpYVWXSQt 6WĜtGDYpYVWXSQt
QDSČWtSĜL
QDSČWtSĜL
QDSČWtSĜL
9$&9$&
9$&9$&
9$&9$&
+]+]
+]+]
+]+]
%78KU
%78KU
%78KU
%78KU
%78KU
%78KU
%78KU
%78KU
%78KU
=DSQXWR%tOi3RKRWRYRVWQtUHåLPUHåLPVSiQNX%tOi
EOLNi
,QWHJURYDQê±9$&+]
[[PP
[[PP
[[PP
NJ
NJ
NJ
3URYR]QtSRGPtQN\
7HSORWQtUR]VDKSURYR]
7HSORWQtUR]VDK
0LPRSURYR]
5HODWLYQtYOKNRVW
1DGPRĜVNiYêãND
07%)
(NRORJLH
52+6
(3($7
%DOHQt
6KRGDDQRUP\
3URKOiãHQtRVKRGČ
2SOiãWČQt
%DUYD
3RYUFKRYi~SUDYD
ƒ&Dåƒ&
ƒ&Dåƒ&
Då
3URYR]VWRSP
0LPRSURYR]VWRSP
KRG(KRG(/
$12
6WĜtEURZZZHSHDWQHW
UHF\NORYDWHOQê
=QDþND&((QHUJ\6WDU)&&&ODVV%6(0.2
7h9*67h9(UJR8/F8/7&2
ýHUQiþHUQi
/HVNOê/HVNOê
3R]QiPND
&HUWLILNiW(3($76LOYHUMHSODWQêSRX]HWDPNGHVSROHþQRVW3KLOLSV]DUHJLVWUXMHSURGXNW
6WDYUHJLVWUDFHYHYDãt]HPLYL]ZZZHSHDWQHW
7\WR~GDMHVHPRKRX]PČQLWEH]SĜHGFKR]tKRR]QiPHQt
6WiKQČWHVLQHMQRYČMãtYHU]LOHWiNX]ZHEXZZZSKLOLSVFRPVXSSRUW
5HåLP\UR]OLãHQtDSĜHGYROHE
0D[LPiOQtUR]OLãHQt
3UR((/
[SĜL+]DQDORJRYêYVWXS
[SĜL+]GLJLWiOQtYVWXS
'RSRUXþHQpUR]OLãHQt
3UR((/
[SĜL+]GLJLWiOQtYVWXS
9RGRURYQi
IUHNYHQFH
N+]
5R]OLãHQt
[
[
[
[
[
[
[
[
[
[
[
[
[
[
6YLVOi
IUHNYHQFH
+]
$XWRPDWLFNi~VSRUDHQHUJLH
3RNXGMHYGDQpPSRþtWDþLQDLQVWDORYiQ
VRIWZDUHQHERYLGHRNDUWDY\KRYXMtFtQRUPČ
'30RUJDQL]DFH9(6$PRQLWRUGRNiåH
DXWRPDWLFN\VQtåLWVYRXVSRWĜHEXHQHUJLH
QHQtOLSRXåtYiQ3RNXGSRþtWDþUR]SR]Qi
YVWXS]NOiYHVQLFHP\ãLQHERMLQpKR
YVWXSQtKR]DĜt]HQtPRQLWRUVHDXWRPDWLFN\
ÄSUREXGt“1iVOHGXMtFtWDEXONDXYiGt
VSRWĜHEXHQHUJLHDVLJQDOL]DFLWpWRIXQNFH
SURDXWRPDWLFNRX~VSRUXHQHUJLH
'HILQLFHĜt]HQtVSRWĜHE\
5HåLP
9(6$
$NWLYQt
9LGHR
+V\QFK 9V\QFK 6SRWĜHED %DUYD
HQHUJLH
/('
=$3
$QR
$QR
(
%tOi
:
W\S
(/
:
W\S
6SiQHN
9<3
1H
1H
:
%tOi
W\S
EOLNi
9\SQXWR
9<3
:
9<3
W\S
7HQWR PRQLWRU VSOĖXMH VPČUQLFH (1(5*< 67$5® -DNR SDUWQHU
RUJDQL]DFH(1(5*<67$5®QDãHVSROHþQRVW]DMLVWLODDE\WHQWR
YêUREHNVSOĖRYDONULWpULDSURJUDPX(1(5*<67$5®SURHIHNWLYQt
VSRWĜHEXHQHUJLH
1iVOHGXMtFtNRQILJXUDFHVHSRXåtYiSĜL
PČĜHQtHQHUJHWLFNpVSRWĜHE\WRKRWR
PRQLWRUX
1DWLYQtUR]OLãHQt[
.RQWUDVW
-DVQLWĤ
%DUHYQiWHSORWD.VSOQČEtOêP
Y]RUNHP
=YXNY\SQXWR
3R]QiPND
7\WR~GDMHVHPRKRX]PČQLWEH]
SĜHGFKR]tKRR]QiPHQt
‡ &DOLEUDWHGFRORUWHPSHUDWXUHDQGJDPPD
FXUYH
‡ :LGHOXPLQDQFHOHYHO'DUNEODFNOHYHOV
/RZPRWLRQEOXU
,QIRUPDFHRUHJXODFL
/HDGIUHH3URGXFW
/HDGIUHHGLVSOD\SURPRWHV
HQYLURQPHQWDOO\VRXQGUHFRYHU\DQG
GLVSRVDORIZDVWHIURPHOHFWULFDODQG
HOHFWURQLFHTXLSPHQW7R[LFVXEVWDQFHVOLNH
/HDGKDVEHHQHOLPLQDWHGDQGFRPSOLDQFH
ZLWK(XURSHDQFRPPXQLW\¶VVWULQJHQW
5R+VGLUHFWLYHPDQGDWLQJUHVWULFWLRQVRQ
KD]DUGRXVVXEVWDQFHVLQHOHFWULFDODQG
HOHFWURQLFHTXLSPHQWKDYHEHHQDGKHUHGWR
LQRUGHUWRPDNH3KLOLSVPRQLWRUVVDIHWRXVH
WKURXJKRXWLWVOLIHF\FOH
7&2'LVSOD\V,QIRUPDWLRQ
&RQJUDWXODWLRQV
<RXUGLVSOD\LVGHVLJQHGIRUERWK
\RXDQGWKHSODQHW
7KLVGLVSOD\FDUULHVWKH7&2&HUWL¿HGODEHO
7KLVHQVXUHVWKDWWKHGLVSOD\LVGHVLJQHG
IRUPLQLPDOLPSDFWRQWKHFOLPDWHDQG
QDWXUDOHQYLURQPHQWZKLOHRIIHULQJDOOWKH
SHUIRUPDQFHH[SHFWHGIURPWRSRIWKHOLQH
HOHFWURQLFSURGXFWV7&2&HUWL¿HGLVD
WKLUGSDUW\YHUL¿HGSURJUDPZKHUHHYHU\
SURGXFWPRGHOLVWHVWHGE\DQDFFUHGLWHG
LQGHSHQGHQWWHVWODERUDWRU\7&2&HUWL¿HG
UHSUHVHQWVRQHRIWKHWRXJKHVWFHUWL¿FDWLRQV
IRUGLVSOD\VZRUOGZLGH
(OHFWULFDO6DIHW\
‡ 3URGXFWIXO¿OOVULJRURXVVDIHW\VWDQGDUGV
(PLVVLRQV
‡ /RZDOWHUQDWLQJHOHFWULFDQGPDJQHWLF
¿HOGVHPLVVLRQV
‡ /RZDFRXVWLFQRLVHHPLVVLRQV
6RPHRIWKH(QYLURQPHQWDOIHDWXUHVRIWKH
7&2'LVSOD\VUHTXLUHPHQWV
‡ 7KHEUDQGRZQHUGHPRQVWUDWHVFRUSRUDWH
VRFLDOUHVSRQVLELOLW\DQGKDVDFHUWL¿HG
HQYLURQPHQWDOPDQDJHPHQWV\VWHP
(0$6RU,62
‡ 9HU\ORZHQHUJ\FRQVXPSWLRQERWKLQRQ
DQGVWDQGE\PRGH
‡ 5HVWULFWLRQVRQFKORULQDWHGDQGURPLQDWHG
ÀDPHUHWDUGDQWVSODVWLFL]HUDQGSRO\PHUV
‡ 5HVWULFWLRQVRQKHDY\PHWDOVVXFKDV
FDGPLXPPHUFXU\DQGOHDG5R+6
FRPSOLDQFH
6RPHRIWKH8VDELOLW\IHDWXUHVRIWKH7&2
'LVSOD\VUHTXLUHPHQWV
9LVXDO(UJRQRPLFV
*RRGYLVXDOHUJRQRPLFVLQRUGHUWRLPSURYH
WKHZRUNLQJHQYLURQPHQWIRUWKHXVHUDQGWR
UHGXFHVLJKWDQGVWUDLQSUREOHPV,PSRUWDQW
SDUDPHWHUVDUH
‡ /LJKWOHYHOVZLWKRXWFRORUWLQW8QLIRUP
FRORUDQGOXPLQDQFH:LGHFRORUJDPXW
‡ (&/RZ9ROWDJH'LUHFWLYH
‡ (&(0&'LUHFWLYH
‡ (&(X3'LUHFWLYH(&1R
7KH(3($7(OHFWURQLF3URGXFW
PSOHPHQWLQJ'LUHFWLYH
(QYLURQPHQWDO$VVHVVPHQW7RRO
IRU6WDQGE\DQG2IIPRGHSRZHU
SURJUDPHYDOXDWHVFRPSXWHU
FRQVXPSWLRQDQGLVSURGXFHGE\D
GHVNWRSVODSWRSVDQGPRQLWRUV
PDQXIDFWXULQJRUJDQL]DWLRQRQ,62
EDVHGRQHQYLURQPHQWDOFULWHULD
OHYHO
GHYHORSHGWKURXJKDQH[WHQVLYHVWDNHKROGHU ‡ 7KHSURGXFWDOVRFRPSO\ZLWKWKH
FRQVHQVXVSURFHVVVXSSRUWHGE\86(3$
IROORZLQJVWDQGDUGV
(3($7V\VWHPKHOSVSXUFKDVHUVLQWKH
‡ ,62(UJRQRPLF
SXEOLFDQGSULYDWHVHFWRUVHYDOXDWHFRPSDUH
UHTXLUHPHQW$QDO\VLVDQGFRPSOLDQFH
DQGVHOHFWGHVNWRSFRPSXWHUVQRWHERRNV
WHVWPHWKRGVIRUHOHFWURQLFYLVXDO
DQGPRQLWRUVEDVHGRQWKHLUHQYLURQPHQWDO
GLVSOD\V
DWWULEXWHV(3($7DOVRSURYLGHVDFOHDU
‡ *6(.*6PDUN
DQGFRQVLVWHQWVHWRISHUIRUPDQFHFULWHULD
UHTXLUHPHQW
IRUWKHGHVLJQRISURGXFWVDQGSURYLGHV
‡ SU(1/RZ)UHTXHQF\
DQRSSRUWXQLW\IRUPDQXIDFWXUHUVWR
(OHFWULFDQG0DJQHWLF¿HOGVIRU9LVXDO
VHFXUHPDUNHWUHFRJQLWLRQIRUHIIRUWVWR
'LVSOD\
UHGXFHWKHHQYLURQPHQWDOLPSDFWRILWV
‡ 035,,035/RZ
SURGXFWV%HQHILWVRI(3($7
)UHTXHQF\(OHFWULFDQG0DJQHWLF¿HOGV
5HGXFHXVHRISULPDU\PDWHULDOV
‡ 7&2'LVSOD\V5HTXLUHPHQWIRU
5HGXFHXVHRIWR[LFPDWHULDOV
(QYLURQPHQW/DEHOLQJRI(UJRQRPLFV
$YRLGWKHGLVSRVDORIKD]DUGRXVZDVWH
(QHUJ\(FRORJ\DQG(PLVVLRQ7&2
(3($7¶6UHTXLUHPHQWWKDWDOOUHJLVWHUHG
6ZHGLVK&RQIHGHUDWLRQRI3URIHVVLRQDO
SURGXFWVPHHW(1(5*<67$5¶VHQHUJ\
(PSOR\HHVIRU7&2YHUVLRQV
HIILFLHQF\VSHFLILFDWLRQVPHDQVWKDW
WKHVHSURGXFWVZLOOFRQVXPHOHVVHQHUJ\
7KLVPRQLWRULVHTXLSSHGZLWKDIXQFWLRQ
WKURXJKRXWWKHLUOLIH
IRUVDYLQJHQHUJ\ZKLFKVXSSRUWVWKH
9(6$'LVSOD\3RZHU0DQDJHPHQW'30
&('HFODUDWLRQRI&RQIRUPLW\
VWDQGDUG7KLVPHDQVWKDWWKHPRQLWRUPXVW
7KLVSURGXFWLVLQFRQIRUPLW\ZLWKWKH
EHFRQQHFWHGWRDFRPSXWHUZKLFKVXSSRUWV
IROORZLQJVWDQGDUGV
9(6$'307LPHVHWWLQJVDUHDGMXVWHGIURP
‡ (16DIHW\UHTXLUHPHQWRI WKHV\VWHPXQLWE\VRIWZDUH
,QIRUPDWLRQ7HFKQRORJ\(TXLSPHQW
‡ (15DGLR'LVWXUEDQFH
9(6$6WDWH
/(',QGLFDWRU
3RZHU
&RQVXPSWLRQ
UHTXLUHPHQWRI,QIRUPDWLRQ7HFKQRORJ\
1RUPDO
21$FWLYH
:KLWH
(
RSHUDWLRQ
:W\S
(TXLSPHQW
(/
‡ (1$$
:W\S
6OHHS6ZLWFK
:KLWHEOLQN
:W\S
3RZHU
,PPXQLW\UHTXLUHPHQWRI,QIRUPDWLRQ
2II
2II
:W\S
6DYLQJ
7HFKQRORJ\(TXLSPHQW
$OWHUQDWLYH
‡ (1/LPLWVIRU+DUPRQLF
2QHVWHS
&XUUHQW(PLVVLRQ
‡ (1$$
/LPLWDWLRQRI9ROWDJH)OXFWXDWLRQDQG
)OLFNHUIROORZLQJSURYLVLRQVRIGLUHFWLYHV
DSSOLFDEOH
(3($7
ZZZHSHDWQHW
&KDQJHVRUPRGLILFDWLRQVQRWH[SUHVVO\
DSSURYHGE\WKHSDUW\UHVSRQVLEOH
IRUFRPSOLDQFHFRXOGYRLGWKHXVHU
V
DXWKRULW\WRRSHUDWHWKHHTXLSPHQW
$VDQ(1(5*<67$5®3DUWQHU
ZHKDYHGHWHUPLQHGWKDWWKLV
SURGXFWPHHWVWKH(1(5*<
67$5®JXLGHOLQHVIRUHQHUJ\
HIILFLHQF\
1RWH
:HUHFRPPHQG\RXVZLWFKRIIWKHPRQLWRU
ZKHQLWLVQRWLQXVHIRUDORQJWLPH)HGHUDO
&RPPXQLFDWLRQV&RPPLVVLRQ)&&
1RWLFH862QO\
‡
‡
‡
‡
7KLVHTXLSPHQWKDVEHHQWHVWHGDQG
IRXQGWRFRPSO\ZLWKWKHOLPLWVIRUD
&ODVV%GLJLWDOGHYLFHSXUVXDQWWR
3DUWRIWKH)&&5XOHV7KHVHOLPLWV
DUHGHVLJQHGWRSURYLGHUHDVRQDEOH
SURWHFWLRQDJDLQVWKDUPIXOLQWHUIHUHQFH
LQDUHVLGHQWLDOLQVWDOODWLRQ7KLV
HTXLSPHQWJHQHUDWHVXVHVDQGFDQ
UDGLDWHUDGLRIUHTXHQF\HQHUJ\DQGLI
QRWLQVWDOOHGDQGXVHGLQDFFRUGDQFH
ZLWKWKHLQVWUXFWLRQVPD\FDXVHKDUPIXO
LQWHUIHUHQFHWRUDGLRFRPPXQLFDWLRQV
+RZHYHUWKHUHLVQRJXDUDQWHHWKDW
LQWHUIHUHQFHZLOOQRWRFFXULQDSDUWLFXODU
LQVWDOODWLRQ,IWKLVHTXLSPHQWGRHVFDXVH
KDUPIXOLQWHUIHUHQFHWRUDGLRRUWHOHYLVLRQ
UHFHSWLRQZKLFKFDQEHGHWHUPLQHG
E\WXUQLQJWKHHTXLSPHQWRIIDQGRQ
WKHXVHULVHQFRXUDJHGWRWU\WRFRUUHFW
WKHLQWHUIHUHQFHE\RQHRUPRUHRIWKH
IROORZLQJPHDVXUHV
5HRULHQWRUUHORFDWHWKHUHFHLYLQJ
DQWHQQD
,QFUHDVHWKHVHSDUDWLRQEHWZHHQWKH
HTXLSPHQWDQGUHFHLYHU
&RQQHFWWKHHTXLSPHQWLQWRDQRXWOHWRQ
DFLUFXLWGLIIHUHQWIURPWKDWWRZKLFKWKH
UHFHLYHULVFRQQHFWHG
&RQVXOWWKHGHDOHURUDQH[SHULHQFHG
UDGLR79WHFKQLFLDQIRUKHOS
8VHRQO\5)VKLHOGHGFDEOHWKDWZDV
VXSSOLHGZLWKWKHPRQLWRUZKHQFRQQHFWLQJ
WKLVPRQLWRUWRDFRPSXWHUGHYLFH
7RSUHYHQWGDPDJHZKLFKPD\UHVXOWLQ
ILUHRUVKRFNKD]DUGGRQRWH[SRVHWKLV
DSSOLDQFHWRUDLQRUH[FHVVLYHPRLVWXUH
7+,6&/$66%',*,7$/$33$5$786
0((76$//5(48,5(0(1762)7+(
&$1$',$1,17(5)(5(1&(&$86,1*
(48,30(175(*8/$7,216
)&&'HFODUDWLRQRI&RQIRUPLW\
'HFODUDWLRQRI&RQIRUPLW\IRU3URGXFWV
0DUNHGZLWK)&&/RJR
8QLWHG6WDWHV2QO\
7KLVGHYLFHFRPSOLHVZLWK3DUWRIWKH
)&&5XOHV2SHUDWLRQLVVXEMHFWWRWKH
IROORZLQJWZRFRQGLWLRQVWKLVGHYLFH
PD\QRWFDXVHKDUPIXOLQWHUIHUHQFHDQG
WKLVGHYLFHPXVWDFFHSWDQ\LQWHUIHUHQFH
UHFHLYHGLQFOXGLQJLQWHUIHUHQFHWKDWPD\
FDXVHXQGHVLUHGRSHUDWLRQ
&RPPLVVLRQ)HGHUDOHGHOD
&RPPXQLFDWLRQ)&&'HFODUDWLRQ
‡
‡
‡
‡
1
XWLOLVHUTXHGHVFkEOHV5)DUPpVSRXU
OHVFRQQHFWLRQVDYHFGHVRUGLQDWHXUVRX
SpULSKpULTXHV
&(7$33$5(,/180(5,48('(/$
&/$66(%5(63(&7(7287(6/(6
(;,*(1&(6'85(*/(0(17685/(
0$7(5,(/%528,//(85'8&$1$'$
&HWpTXLSHPHQWDpWpWHVWpHWGpFODUp
FRQIRUPHDX[OLPLWHVGHVDSSDUHLOV
QXPpULTXHVGHFODVV%DX[WHUPHVGH
O
DUWLFOH'HVUqJOHVGHOD)&&&HV
OLPLWHVVRQWFRQoXHVGHIDoRQjIRXULU
(1&RPSOLDQFH&]HFK5HSXEOLF
XQHSURWHFWLRQUDLVRQQDEOHFRQWUHOHV
2QO\
LQWHUIpUHQFHVQXLVLEOHVGDQVOHFDGUH
G
XQHLQVWDOODWLRQUpVLGHQWLHOOH
&
(7DSSDUHLOSURGXLWXWLOLVHHWSHXW
pPHWWUHGHVK\SHUIUpTXHQFHVTXLVL
O
DSSDUHLOQ
HVWSDVLQVWDOOpHWXWLOLVp
VHORQOHVFRQVLJQHVGRQQpHVSHXYHQW
FDXVHUGHVLQWHUIpUHQFHVQXLVLEOHVDX[
FRPPXQLFDWLRQVUDGLR
&
HSHQGDQWULHQQHSHXWJDUDQWLU
O
DEVHQFHG
LQWHUIpUHQFHVGDQVOHFDGUH
G
XQHLQVWDOODWLRQSDUWLFXOLqUH6LFHW
DSSDUHLOHVWODFDXVHG
LQWHUIpUHQFHV
QXLVLEOHVSRXUODUpFHSWLRQGHVVLJQDX[
GHUDGLRRXGHWpOpYLVLRQFHTXLSHXWrWUH
GpFHOpHQIHUPDQWO
pTXLSHPHQWSXLV
HQOHUHPHWWDQWHQIRQFWLRQO
XWLOLVDWHXU
SRXUUDLWHVVD\HUGHFRUULJHUODVLWXDWLRQ
HQSUHQDQWOHVPHVXUHVVXLYDQWHV
5pRULHQWHURXGpSODFHUO
DQWHQQHGH
UpFHSWLRQ
$XJPHQWHUODGLVWDQFHHQWUHO
pTXLSHPHQW
HWOHUpFHSWHXU
%UDQFKHUO
pTXLSHPHQWVXUXQDXWUH
FLUFXLWTXHFHOXLXWLOLVpSDUOHUpFHSWHXU
'HPDQGHUO
DLGHGXPDUFKDQGRXG
XQ
WHFKQLFLHQFKHYURQQpHQUDGLRWpOpYLVLRQ
7RXWHVPRGLILFDWLRQVQ
D\DQWSDVUHoX
O
DSSUREDWLRQGHVVHUYLFHVFRPSpWHQWV
HQPDWLqUHGHFRQIRUPLWpHVWVXVFHSWLEOH
G
LQWHUGLUHjO
XWLOLVDWHXUO
XVDJHGX
SUpVHQWpTXLSHPHQW
3ROLVK&HQWHUIRU7HVWLQJDQG&HUWLILFDWLRQ 1RUWK(XURSH1RUGLF&RXQWULHV
,QIRUPDWLRQ
1RWLFH
7KHHTXLSPHQWVKRXOGGUDZSRZHUIURPD
VRFNHWZLWKDQDWWDFKHGSURWHFWLRQFLUFXLW
DWKUHHSURQJVRFNHW$OOHTXLSPHQWWKDW
ZRUNVWRJHWKHUFRPSXWHUPRQLWRUSULQWHU
DQGVRRQVKRXOGKDYHWKHVDPHSRZHU
VXSSO\VRXUFH
3ODFHULQJ9HQWLODWLRQ
9$51,1*
) g 5 6 b . 5 $ ' , * 2 0 $ 7 7
+ 8 9 8 ' % 5 < 7$ 5 ( 2 & + 8 7 7$ * b 5
/b7c7.20/,*$ 1b5 '8 67b//(5 ',1
8758671,1*3c3/$76
7KHSKDVLQJFRQGXFWRURIWKHURRP
V
HOHFWULFDOLQVWDOODWLRQVKRXOGKDYHDUHVHUYH
VKRUWFLUFXLWSURWHFWLRQGHYLFHLQWKHIRUPRI
DIXVHZLWKDQRPLQDOYDOXHQRODUJHUWKDQ
DPSHUHV$
3ODFHULQJ9HQWLODWLRQ
$'9$56(/
6 ‘ 5 * 9 ( ' 3 / $ & ( 5 , 1 * ( 1
) 2 5 $7 1 ( 7 / ( ' 1 , 1 * ( 1 6 6 7 , .
2 * 6 7 , . . 2 1 7 $ . 7 ( 5 1 ( 0 7
7,/*1*(/,*(
7RFRPSOHWHO\VZLWFKRIIWKHHTXLSPHQW
WKHSRZHUVXSSO\FDEOHPXVWEHUHPRYHG
IURPWKHSRZHUVXSSO\VRFNHWZKLFKVKRXOG
EHORFDWHGQHDUWKHHTXLSPHQWDQGHDVLO\
DFFHVVLEOH
3DLNND,OPDQNLHUWR
9$52,786
6 , - 2 , 7 $ / $ , 7 ( 6 , 7 ( 1 ( 7 7 b
9 ( 5 . . 2 - 2 + 7 2 9 2 , ' $ $ 1
7$59,77$(66$ +(/3267, ,55277$$
3,6725$6,$67$
$SURWHFWLRQPDUN%FRQILUPVWKDWWKH
HTXLSPHQWLVLQFRPSOLDQFHZLWKWKH
SURWHFWLRQXVDJHUHTXLUHPHQWVRIVWDQGDUGV
317DQG31(
3ODVVHULQJ9HQWLODVMRQ
$'9$56(/
1c5 '(77( 8767<5(7 3/$66(5(6
0c'83$66(3c$7.217$.7(1()25
67‘07,/)‘56(/(5/(77(c1c
%60,1RWLFH7DLZDQ2QO\
&KLQD5R+6
(UJRQRPLH+LQZHLVQXU'HXWVFKODQG
7KH3HRSOH
V5HSXEOLFRI&KLQDUHOHDVHG
DUHJXODWLRQFDOOHG0DQDJHPHQW0HWKRGV
IRU&RQWUROOLQJ3ROOXWLRQE\(OHFWURQLF
,QIRUPDWLRQ3URGXFWVRUFRPPRQO\UHIHUUHG
WRDV&KLQD5R+6$OOSURGXFWVLQFOXGLQJ
$XIGHU5FNZDQGGHV*HUlWHVEHILQGHWVLFK &57DQG/&'PRQLWRUZKLFKDUHSURGXFHG
DQGVROGIRU&KLQDPDUNHWKDYHWRPHHW
HLQ$XINOHEHUGHUDXIGLH8QEHGHQNOLFKNHLW
&KLQD5R+6UHTXHVW
GHU,QEHWULHEQDKPHKLQZHLVWGDGLH
9RUVFKULIWHQEHUGLH%DXDUWYRQ
6W|UVWUDKOHUQQDFK$QODJH,,,͞$EVGHU
5|QWJHQYHURUGQXQJHUIOOWVLQG
'HUYRQXQVJHOLHIHUWH)DUEPRQLWRU
HQWVSULFKWGHQLQGHU9HURUGQXQJEHUGHQ
6FKXW]YRU6FKlGHQGXUFK5|QWJHQVWUDKOHQ
IHVWJHOHJWHQ9RUVFKULIWHQ
'DPLW,KU0RQLWRULPPHUGHQLQGHU
=XODVVXQJJHIRUGHUWHQ:HUWHQHQWVSULFKWLVW
GDUDXI]XDFKWHQGD‰
5HSDUDWXUHQQXUGXUFK)DFKSHUVRQDO
GXUFKJHIKUWZHUGHQ
QXURULJLQDO(UVDW]WHLOHYHUZHQGHW
ZHUGHQ
EHL(UVDW]GHU%LOGU|KUHQXUHLQH
EDXDUWJOHLFKHHLQJHEDXWZLUG
$ X V H U J R Q R P L V F K H Q * U  Q G H Q Z L U G
HPSIRKOHQ GLH *UXQGIDUEHQ %ODX XQG
5RW QLFKW DXI GXQNOHP 8QWHUJUXQG ]X
YHUZHQGHQ VFKOHFKWH /HVEDUNHLW XQG
HUK|KWH$XJHQEHODVWXQJ EHL ]X JHULQJHP
=HLFKHQNRQWUDVWZlUHQGLH)ROJH
'HUDUEHLWVSODW]EH]RJHQH6FKDOOGUXFNSHJHO
QDFK ',1 EHWUlJW G% $ RGHU
ZHQLJHU
$&+781*%(,0$8)67(//(1
',(6(6*(5b7(6'$5$8)
$&+7(1'$‰1(7=67(&.(581'
1(7=.$%(/$16&+/8‰/(,&+7
=8*b1*/,&+6,1'
ʳ㩾অࠌ‫ش‬ཚૻ
‫ڼ‬䰬兘ਐཚૻʻԼ‫ڣ‬ʼʿ䶣՗ॾஒ䣈঴խܶ‫ڶ‬ऱ
‫ڶ੅ڶ‬୭ढ凝ࢨցై‫إڇ‬ൄࠌ‫ش‬ऱ㦕ٙՀլ
㢸䦡‫س‬؆इࢨડ䦣ʿʳ䶣՗ॾஒ䣈঴‫ش‬㡬ࠌ‫ش‬具
䶣՗ॾஒ䣈঴լ㢸㢑㩾ቼທ‫ګ‬䢘ૹ‫ۆ‬਩ࢨ㢑
ࠡԳߪΕʳ凗䣈ທ‫ګ‬䢘ૹ䮦୭ऱཚૻΗʳ
3pþHR]iND]QtN\D
]iUXND
3pþHR]iND]QtN\]iUXND
3526Ë09<%(57(6,9Èâ67È72%/$67
$%<67(6,352â/,'(7$,/<32.5<7Ë
=È58.<
=È3$'1Ë(9523$
5DNRXVNR%HOJLH'iQVNR)UDQFLH
1ČPHFNRěHFNR)LQVNR,UVNR,WiOLH
/XFHPEXUVNR1L]R]HPVNR1RUVNR
3RUWXJDOVNRâYpGVNRâYêFDUVNR
âSDQČOVNR9HONi%ULWiQLH3ROVNR
9é&+2'1Ë(9523$
ýHVNiUHSXEOLND0DćDUVNR5XVNR
6ORYHQVNR6ORYLQVNR7XUHFNR
/$7,16.È$0(5,.$
$UJHQWLQD%UD]tOLH
6(9(51Ë$0(5,.$
.DQDGD86$
7,&+202ěË
$XVWUiOLH1RYê=pODQG
$6,(
ýtQD+RQJNRQJ,QGLH,QGRQpVLH.RUHD
0DODMVLH3iNLVWiQ)LOLStQ\6LQJDSXU
7FKDMZDQ7KDMVNR9LHWQDP
$)5,.$
-LåQt$IULND
67ě('1Ë9é&+2'
6SRMHQpDUDEVNpHPLUiW\
=iUXND3KLOLSV)UVW&KRLFH
'ČNXMHPH]D]DNRXSHQtPRQLWRUX3KLOLSV
9ãHFKQ\PRQLWRU\3KLOLSV
MVRXQDYUåHQ\DY\UREHQ\
SRGOHY\VRNêFKVWDQGDUGĤD
SRGiYDMtY\VRFHNYDOLWQtYêNRQ
]DMHGQRGXFKpKRSRXåLWtD
LQVWDODFH3RNXGSĜLLQVWDODFLDSRXåtYiQt
QDUD]tWHQDMDNêNROLYSUREOpPY\XåLMWH
]iUXN\3KLOLSV)UVW&KRLFHDVSRMWHVH
SĜtPRVHVWĜHGLVNHPSRGSRU\3KLOLSV7DWR
GYRXOHWiVHUYLVQt]iUXNDXPRåĖXMHY\PČQLW
PRGHOQDPtVWČMHVWOLåHVHSURNiåHåH
MHYiãPRQLWRU]iYDGQêQHERSRãNR]HQê
3KLOLSVVH]DYD]XMHSURYpVWYêPČQXGR
KRGLQRGYDãHKR]DYROiQt
1DFRWDWR]iUXNDY]WDKXMH"
=iUXND3KLOLSV)UVW&KRLFHSODWtY$QGRĜH
5DNRXVNX%HOJLL.\SUX'iQVNX)UDQFLL
1ČPHFNXěHFNX)LQVNX,UVNX,WiOLL
/LFKWHQãWHMQVNX/XFHPEXUVNX0RQDNX
+RODQGVNX1RUVNX3ROVNR3RUWXJDOVNX
âYpGVNXâYêFDUVNXâSDQČOVNXD9HONp
%ULWiQLLDSRX]HSURPRQLWRU\SĤYRGQČ
QDYUåHQpY\UREHQpDVFKYiOHQpNSRXåtYiQt
YWČFKWR]HPtFK
=iUXNDYVWXSXMHYSODWQRVWGQHP]DNRXSHQt
PRQLWRUX3RGREXQiVOHGXMtFtFKGYRX
OHWEXGHPRQLWRUY\PČQČQDOHVSRĖ]D
RGSRYtGDMtFtPRGHOYSĜtSDGČ]iYDGQD
NWHUpVH]iUXNDY]WDKXMH
9\PČQČQêPRQLWRUVHVWDQHYDãtPPDMHWNHP
D3KLOLSVVLSRQHFKiYDGQêSĤYRGQtPRQLWRU
=iUXþQtGREDY\PČQČQpKRPRQLWRUX]ĤVWiYi
VWHMQiMDNRXSĤYRGQtKRPRQLWRUXWMEXGH
PČVtFĤRGGDWDNRXSČYDãHKRSĤYRGQtKR
PRQLWRUX
1DFRVHWDWR]iUXNDQHY]WDKXMH"
=iUXND3KLOLSV)UVW&KRLFHSODWt]D
SĜHGSRNODGXåHVHVYêURENHP]DFKi]t
SĜLPČĜHQČMHKRVWDQRYHQpPXSRXåLWt
YVRXODGXVQiYRGHPNSRXåLWtDåHMH
SĜHGORåHQDSĤYRGQtIDNWXUDQHERSDUDJRQ
XYiGČMtFtGDWXPSURGHMHMPpQRSURGHMFH
PRGHODVpULRYpþtVORYêURENX
6WDþtNOHSQRXWP\ãt
3RNXGVHVHWNiWHVSRWtåHPLGRSRUXþXMHPH
YiPGĤNODGQČVLSĜHþtVWQiYRGQDSRXåLWt
QHERY\KOHGDWGRGDWHþQRXRGERUQRXSRPRF
QDZHEXZZZSKLOLSVFRPVXSSRUW
=iUXND3KLOLSV)UVW&KRLFHPĤåH]WUDWLW
SODWQRVWSRNXG
‡ GRNXPHQW\E\O\MDNêPNROL]SĤVREHP
SR]PČQČQ\QHERMVRXQHþLWHOQp
‡ PRGHORYpþLYêUREQtþtVORYêURENXE\OR
SR]PČQČQRY\PD]iQRRGVWUDQČQR
QHERMHQHþLWHOQp
‡ RSUDY\QHER~SUDY\E\O\SURYHGHQ\
QHDXWRUL]RYDQRXVHUYLVQtRUJDQL]DFt
QHERRVREDPL
‡ E\ORSRãNR]HQt]SĤVREHQRQHKRGRX
QDSĜEOHVNHPYRGRXQHERRKQČP
QHVSUiYQêPSRXåLWtPQHERQHGEDORVWt
DM
‡ SUREOpP\VSĜtMPHP]SĤVREHQpVWDYHP
VLJQiOXQHERNDEHORYêPþLDQWpQQtP
V\VWpPHPPLPR]DĜt]HQt
‡ ]iYDG\]SĤVREHQpKUXEêPQHER
QHVSUiYQêPSRXåtYiQtPPRQLWRUX
‡ SRNXGMHYêUREHNWĜHED]PČQLWQHER
XSUDYLWWDNDE\Y\KRYRYDOPtVWQtP
QHERVWiWQtPWHFKQLFNêPQRUPiP
NWHUpSODWtY]HPtFKSURNWHUpYêUREHN
QHE\OSĤYRGQČ]NRQVWUXRYiQY\UREHQ
VFKYiOHQQHERSRYROHQ=WRKRWRGĤYRGX
VHYåG\LQIRUPXMWH]GDMHYêUREHNPRåQp
SRXåtYDWYHYDãt]HPL
‡ XSR]RUĖXMHPHåHQDYêUREN\NWHUp
QHE\O\SĤYRGQČQDYUåHQ\Y\UREHQ\D
VFKYiOHQ\QHERDXWRUL]RYiQ\NSRXåLWt
Y]HPtFKNGHSODWt]iUXND3KLOLSV)UVW
&KRLFHVHWDWR]iUXNDQHY]WDKXMH9
WDNRYêFKSĜtSDGHFKSODWtJOREiOQt]iUXþQt
SRGPtQN\3KLOLSV
3RX]H]DYROHMWH
$E\VWHSĜHGHãOL]E\WHþQêPREWtåtP
GRSRUXþXMHPHYiPGĜtYHQHåVHVSRMtWH
VHVWĜHGLVNHPSRGSRU\3KLOLSVSĜHþtVWVL
SR]RUQČQiYRGNREVOX]HQHERQDYãWtYLW
LQWHUQHWRYêVHUYHUZZZSKLOLSVFRPVXSSRUW
NGHSRVN\WXMHPHGDOãtSRGSRUX
'ĜtYHQHå]DYROiWHVWĜHGLVNRSRGSRU\
3KLOLSVSĜLSUDYWHVLSURVtPY]iMPXU\FKOpKR
Y\ĜHãHQtYDãHKRSUREOpPXQiVOHGXMtFt
LQIRUPDFH
‡ 7\SRYpþtVOR3KLOLSV
‡ 6pULRYpþtVOR3KLOLSV
‡ 'DWXPQiNXSXNRSLHQiNXSXPXåHEêW
SRåDGRYiQD
‡ 3URFHVRUSURVWĜHGt3&
o 1i]HYDYHU]HRYODGDþH&83D
JUDILFNpNDUW\
o 2SHUDþQtV\VWpP
o 3RXåtYDQiDSOLNDFH
‡ 'DOãtLQVWDORYDQpNDUW\
%XGHWHOLPtWSRUXFHLQiVOHGXMtFtLQIRUPDFH
SRPĤåHWHXU\FKOLWFHOêSRVWXS
‡ 9iãGRNODGRQiNXSXR]QDþXMtFtGDWXP
SURGHMHMPpQRSURGHMFHVpULRYpþtVOR
PRGHOXDYêURENX
‡ ÒSOQRXDGUHVXNGHPiEêWY\]YHGQXW
YDGQêPRQLWRUDGRGiQQiKUDGQtPRGHO
2GGČOHQtSRPRFL]iND]QtNĤP3KLOLSVX
QDOH]QHWHSRFHOpPVYČWČ.OHSQXWtP]GH
]tVNiWHNRQWDNWQtLQIRUPDFHSUYQtYROE\
1HERVHVQiPLPĤåHWHVSRMLWSĜHV
:HERYêVHUYHUKWWSZZZSKLOLSVFRP
VXSSRUW
.RQWDNWQtLQIRUPDFH)UVW&KRLFH
=HPČ
5DNRXVNR
%HOJLH
'iQVNR
)LQVNR
/XFHPEXUVNR
1L]R]HPVNR
1RUVNR
3ROVNR
3RUWXJDOVNR
âSDQČOVNR
âYpGVNR
âYêFDUVNR
6SRMHQpNUiORYVWYt
.yG
7HOHIRQQtþtVOR
7DULI
¼
¼
0tVWQtWHOHIRQQtWDULI
¼
0tVWQtWHOHIRQQtWDULI
¼
0tVWQtWHOHIRQQtWDULI
0tVWQtWHOHIRQQtWDULI
0tVWQtWHOHIRQQtWDULI
¼
0tVWQtWHOHIRQQtWDULI
0tVWQtWHOHIRQQtWDULI
0tVWQtWHOHIRQQtWDULI
‡ SUREOpP\VSĜtMPHP]SĤVREHQpVWDYHP
VLJQiOXQHERNDEHORYêPþLDQWpQQtP
V\VWpPHPPLPR]DĜt]HQt
‡ ]iYDG\]SĤVREHQpKUXEêPQHER
QHVSUiYQêPSRXåtYiQtPPRQLWRUX
‡ SRNXGMHYêUREHNWĜHED]PČQLWQHER
XSUDYLWWDNDE\Y\KRYRYDOPtVWQtP
QHERVWiWQtPWHFKQLFNêPQRUPiP
NWHUpSODWtY]HPtFKSURNWHUpYêUREHN
QHE\OSĤYRGQČ]NRQVWUXRYiQY\UREHQ
VFKYiOHQQHERSRYROHQ=WRKRWRGĤYRGX
VHYåG\LQIRUPXMWH]GDMHYêUREHNPRåQp
SRXåtYDWYHYDãt]HPL
0H]LQiURGQt]iUXNDSURVWĜHGQtD
YêFKRGQt(YURSX
9iåHQê]iND]QtNX
'ČNXMHPHYiP]D]DNRXSHQtYêURENX
3KLOLSVNWHUêE\OQDYUåHQDY\UREHQY
VRXODGXVHVWDQGDUG\QHMY\ããtNYDOLW\
3RNXGE\VQDGGRãORXWRKRWRYêURENXN
QČMDNp]iYDGČVSROHþQRVW3KLOLSV]DUXþXMH
EH]SODWQRXYêPČQXSUiFHQiKUDGQtGtO\
SRGREXPČVtFĤRGGDWXPXQiNXSX
1DFRWDWR]iUXNDY]WDKXMH"
7DWR]iUXNDVSROHþQRVWL3KLOLSVSURVWĜHGQt
DYêFKRGQt(YURSXSODWtYýHVNpUHSXEOLFH
0DćDUVNX6ORYHQVNX6ORYLQVNX5XVNXD
7XUHFNXDY]WDKXMHVHSRX]HQDPRQLWRU\
NWHUpE\O\]NRQVWUXRYiQ\Y\UREHQ\
VFKYiOHQ\QHERSRYROHQ\SURSRXåtYiQtY
WČFKWR]HPtFK
3URVtPYãLPQČWHVLåHYêUREHNSRG]iUXNRX
QHQtSRãNR]HQêYSĜtSDGČNGHE\O\QXWQp
~SUDY\DE\YêUREHNVSOĖRYDOPtVWQtQHER
QiURGQtWHFKQLFNpVWDQGDUG\MHåMVRX
DSOLNRYiQ\YHVWiWHFKSURNWHUpE\OYêUREHN
SĤYRGQČQDYUåHQDQHERY\UREHQ=WRKRWR
GĤYRGXVHYåG\LQIRUPXMWH]GDMHYêUREHN
PRåQpSRXåtYDWYHYDãt]HPL
=iUXNDYVWXSXMHYSODWQRVWGQHP]DNRXSHQt
PRQLWRUX3RGREXQiVOHGXMtFtFKOHWEXGH
YSĜtSDGČ]iYDG\SURYHGHQ]iUXþQtVHUYLV
PRQLWRUX
6WDþtNOHSQRXWP\ãt
3RNXGVHVHWNiWHVSRWtåHPLGRSRUXþXMHPH
YiPGĤNODGQČVLSĜHþtVWQiYRGQDSRXåLWt
QHERY\KOHGDWGRGDWHþQRXRGERUQRXSRPRF
QDZHEXZZZSKLOLSVFRPVXSSRUW
1DFRVHWDWR]iUXNDQHY]WDKXMH"
=iUXND3KLOLSVMHSODWQiSRNXGMHYêUREHN
SRXåtYiQSURQDYUåHQRXSRWĜHEXYVRXODGX
VQiYRGHPDSRSĜLORåHQtRULJLQiOXIDNWXU\
QHERSRNODGQtPGRNODGHPR]QDþXMtFtP
GDWXPQiNXSXMPpQRSURGHMFHDPRGHORYp
DYêUREQtþtVORYêURENX
3RX]H]DYROHMWH
&KFHWHOLVHY\KQRXWSRWtåtPGRSRUXþXMHPH
YiPQHMSUYHVLGĤNODGQČSĜHþtVWQiYRGQD
SRXåLWtDWHSUYHSRWRPVHREUiWLWQDQDãH
SURGHMFHQHERLQIRUPDþQtFHQWUD
=iUXND3KLOLSVVHQHY]WDKXMHSRNXG
‡ GRNXPHQW\E\O\MDNêPNROL]SĤVREHP
SR]PČQČQ\QHERMVRXQHþLWHOQp
‡ PRGHORYpþLYêUREQtþtVORYêURENXE\OR
SR]PČQČQRY\PD]iQRRGVWUDQČQR
QHERMHQHþLWHOQp
‡ RSUDY\QHER~SUDY\E\O\SURYHGHQ\
QHDXWRUL]RYDQRXVHUYLVQtRUJDQL]DFt
QHERRVREDPL
‡ SRãNR]HQtMH]DYLQČQRQHKRGDPL
]DKUQXMtFtPLDOHQHRPH]XMtFtPLQDEOHVN
YRGXQHERSRåiUQHSDWĜLþQpSRXåtYiQt
QHER]DQHGEiQt
3RNXGYêUREHN3KLOLSVQHIXQJXMHVSUiYQČ
QHERMH]iYDGQêREUDĢWHVHQD9DãHKR
SURGHMFH3KLOLSVQHERSĜtPRQDVHUYLVQtD
LQIRUPDþQtVWĜHGLVND3KLOLSVSUR]iND]QtN\
:HERYêVHUYHUKWWSZZZSKLOLSVFRP
VXSSRUW
,QIRUPDþQtVWĜHGLVNDSUR]iND]QtN\
$UJHQWLQD$XVWUiOLH%UD]tOLH.DQDGD
1RYê=pODQG%ČORUXVNR%XOKDUVNR
&KRUYDWVNRýHVNiUHSXEOLND(VWRQVNR
6SRMHQpDUDEVNpHPLUiW\+RQJNRQJ
0DćDUVNR,QGLH,QGRQpVLH,]UDHO
/RW\ãVNR/LWYD0DODMVLH6WĜHGQtYêFKRG
VHYHUQt$IULND1RYê=pODQG3iNLVWiQ
5XPXQVNR5XVNR6UEVNRDýHUQi+RUD
6LQJDSXU6ORYHQVNR6ORYLQVNR-LåQt
$IULND-LåQt.RUHD7FKDMZDQ)LOLStQ\
7KDMVNR7XUHFNR8NUDMLQD9LHWQDP
9êFKRGQt(YURSD
%(/$5867HFKQLFDO&HQWHURI-9,%$
0%RJGDQRYLFKVWU
%<0LQVN
7HO
%ċ/2586.2
6HUYLFH%<
3HWUXV%URYN\VW±%
0LQVN
%ČORUXVNR
%8/+$56.2
/$16HUYLFH
0LPL%DONDQVND6WU
2IILFHFHQWHU7UDQVORJ
6RILH%XOKDUVNR
7HO
ZZZODQVHUYLFHEJ
ý(6.È5(38%/,.$
*HQHUDO&RQVXPHU,QIRUPDWLRQ&HQWHU
;SHFWUXP
/XQi
&=3UDKD7HOQHER
(PDLOLQIR#[SHFWUXPF]
ZZZ[SHFWUXPF]
&+259$76.2
5HQRSURPGRR
/MXEOMDQVND
6Y1HGMHOMD
&KRUYDWVNR
7HO
(67216.2
)8-,7686(59,&(628
$NDGHHPLDWHH*
((7DOOLQ
7HO
ZZZHHLQYLDIXMLWVXFRP
0$Ć$56.2
6HUZDUH6]HUYL]
9L]LPROQiUX
+8%XGDSHãĢ
7HO
(PDLOLQER[#VHUZDUHKX
ZZZVHUZDUHKX
0$Ć$56.2
3URIL6HUYLFH&HQWHU/WG
.XOVR9DFL6WUHHW
+%XGDSHãĢHYURSVNpVWĜHGLVNR
0DćDUVNR
7HO
(PDLOPDQGUDV#SVFKX
/27<â6.2
6HUYLFH1HW/9
-HOJDYDVLHOD
/95LJD
7HO
(PDLOVHUYLVV#VHUYLFHQHWOY
/,79$
6HUYLFH1HW/7
*DL]LXQX*
/7.$81$6
7HO
(PDLOVHUYLVDV#VHUYLFHQHWOW
ZZZVHUYLFHQHWOW
580816.2
%OXH5LGJH,QW
O&RPSXWHUV65/
0LKDL(PLQHVFX6W6HFWRU
52%XNXUHãĢ
7HO
65%6.2$ý(51È+25$
.LP7HFGRR
9LOLQHYRGHEE6ORERGQD]RQD
%ČOHKUDG/
%ČOHKUDG
6UEVNR
7HO
6/29(16.2
*HQHUDO&RQVXPHU,QIRUPDWLRQ&HQWHU
'DWDODQ6HUYLVQH6WUHGLVNR
3XFKRYVND
6.%UDWLVODYD
7HO
(PDLOVHUYLV#GDWDODQVN
6/29,16.2
3&+$1'
%UH]RYFH
6,7U]LQ
7HO
(PDLOVHUYLV#SFKDQGVL
586.2
&36
6KHOHSLKLQVND\DQDE
0RVNYD
5XVNR
7HO
3URIVHUYLFH
$.DUDFKDURYVND\DVWU
0RVNYD
5XVNR
7HO
785(&.2
7UN3KLOLSV7LFDUHW$6
<XNDUL'XGXOOX2UJ6DQ%ROJHVL
&DGGH1R
8PUDQL\H,VWDQEXO
7HO
8.5$-,1$
&RPHO
6KHYFKHQNRVWUHHW
8$'QČSURSHWURYVN
7HO
ZZZFVSFRPHOFRP//&7RSD]&RPSDQ\
7RSD]6HUYLFH&RPSDQ\
0LVKLQDVWU
.\MHY
8NUDMLQD
7HO
/DWLQVNi$PHULND
$5*(17,1$
$]RSDUGR
&$'=&GDGGH%XHQRV$LUHV
7HO
(PDLO&,&PRQLWRUHV#3KLOLSVFRP
%5$=Ë/,(
$ODPHGD5DMD*DEDJOLDƒ$QGDU9
2OtPSLD63DXOR63&(3
%UD]tOLH
7HO
(PDLO&,&PRQLWRUHV#3KLOLSVFRP
7LFKRPRĜt
$8675È/,(
6SROHþQRVW$*261(7:25.37</7'
$GUHVD'XUVOH\5RDG<HQRUUD16:
$XVWUiOLH
7HO
)D[
(PDLOSKLOLSV#DJRVFRPDX
3URYR]QtGRED3R3i
'RGDWHþQpVHUYLVQtERG\
129é=e/$1'
6SROHþQRVW9LVXDO*URXS/WG
$GUHVD:DOOV5G3HQURVH$XFNODQG
7HO
)D[
(PDLOYDLUDYLQGUDQ#YLVXDOJURXSFRQ]
3URYR]QtGRED3R3i
3KLOLSV%XLOGLQJ-O%XQFLW5D\D.DY
-DNDUWD6HODWDQ
-O7DQDK$EDQJQR6-DNDUWD3XVDW
$VLH
+21*.21*0$&$2
1i]HYVSROHþQRVWL3+.6HUYLFH/LPLWHG
$GUHVD)ODW$)3DN6XQ%XLOGLQJ
:R<L+RS5RDG.ZDL&KXQJ1HZ
7HUULWRULHV+RQJ.RQJ
7HOSUR
+RQJNRQJDSUR0DFDR
)D[SUR+RQJNRQJD
SUR0DFDR
(PDLOHQTXLU\#SKNVHUYLFHFRPKN
3URYR]QtGRED3R6R
7HO
5XNDQ&LW\+RPHQR+*DGLQJ
6TXDUH-O%XOHYDU%DUDW.HODSD
*DGLQJ-DNDUWD8WDUD
7HO
,1',(
6SROHþQRVW5(',1*721,1',$/7'
$GUHVD63/*XLQG\+RXVH0RXQW5RDG
&KHQQDL,QGLH
7HO
(PDLODIWHUVDOHV#LQDRFPRQLWRUFRP
3URYR]QtGRED3R3i6R
,1'21e6,(
1i]HYVSROHþQRVWL37*DGLQJVDUL
HOHNWURQLND3ULPD
$GUHVD.RPSOHNV3LQDQJ-O&LSXWDWUD\D
1R)3RQGRN3LQDQJ-DNDUWD
7HO
)D[
(PDLOJHSWD#FEQQHWLG
3URYR]QtGRED3R3i
6RE
HONODSND
7
-,ä1Ë.25($
6SROHþQRVW3&62QH.RUHD/WG
$GUHVD%DQSRGRQJ6HRFKRNX
6HXO.RUHD
7HOHIRQQtVWĜHGLVNRWHO
7HO
)D[
(PDLOFLFBNRUHD#SKLOLSVFRP
3URYR]QtGRED3R3i6R
0$/$-6,(
6SROHþQRVW$IWHU0DUNHW6ROXWLRQV&(6GQ
%KG
$GUHVD/RW-DODQ$
3HWDOLQJ-D\D6HODQJRU'(0DODMVLH
7HO
,QIRUPDþQtOLQND3KLOLSV
)D[
(PDLOSFHLQIRP\#SKLOLSVFRP
3URYR]QtGRED3R3i6R
3È.,67È1
=iND]QLFNiVOXåED3KLOLSV
$GUHVD0XEDUDNPDQ]LO*DUGHQ5RDG
6DGGDU.DUiþt
7HO
)D[
(PDLOFDUH#SKLOLSVFRP
:HERYêVHUYHUZZZSKLOLSVFRPS
6,1*$385
6SROHþQRVW3KLOLSV(OHFWURQLFV6LQJDSRUH
3WH/WGVWĜHGLVNR]iND]QLFNpSpþH3KLOLSV
$GUHVD$/RURQJ7RD3D\RK73
%XLOGLQJ/HYHO6LQJDSXU
7HO
)D[
(PDLOFRQVXPHUFDUHVJ#SKLOLSVFRP
3URYR]QtGRED3R3i6R
7&+$-:$1
6SROHþQRVW)(7(&&2
$GUHVD)1R/DQH6HF&KDQJ
+VLQJ5G/X&KX+V7DR\XDQ7FKDMZDQ
52&
3pþHR]iND]QtN\
7HO
)D[
(PDLONQOLQ#[XLWHQHW
3URYR]QtGRED3R3i
0'50LFURZDUH6DOHV,QF
3RERþND&HEX
1(VFDULRFRUQHU&ODYDQR6W&HEX&LW\
3KLOV
Då
1HDå
3RERþND'DYDR
&$UHOODQR6W'DYDR&LW\
1H
3RERþND&'2
&RUUDOHV([W&'2&LW\
1H
3RERþND,ORLOR
&/LP&RPS*RPH]6W,ORLOR&LW\
1H
THAJSKO
6SROHþQRVW$[LV&RPSXWHU6\VWHP&R/WG
$GUHVD6RL/DUGSUDR6ULYDUD
7RZQ,Q7RZQ6RL5RDG:DQJWKRQJODQJ
%DQJNRN7KDMVNR
7HO
)D[
(PDLOD[LV#D[LVFRPSXWHUFRWK
3URYR]QtGRED3R3i
$IULND
-,+2$)5,&.È5(38%/,.$
1i]HYVSROHþQRVWL6\OYDUD7HFKQRORJLHV3W\
/WG
$GUHVD+R$GGUHVV3DOP6SULQJV&HQWUH
&KULVWRIIHO5RDG9DQ5LHEHHFN3DUN
.HPSWRQ3DUN-LKRDIULFNiUHSXEOLND
7HO
)D[
(PDLOFXVWRPHUFDUH#SKLOLSVVXSSRUWFR]D
*OHH(OHFWURQLFV,QF
.RQWDNWQtþtVODDå 3URYR]QtGRED3R3i
6WĜHGQtYêFKRG
)D[
67ě('1Ë9é&+2'6(9(51Ë$)5,.$
6SROHþQRVW$/6+$+'&20387(5//&
3ĜLMtPDFtVWĜHGLVND
$GUHVD32%2;'8%$-
1(2&$5(0HJDPDOO
632-(1e$5$%6.e(0,5È7<
WK/HYHO&\EHU]RQH%XLOGLQJ%
7HO
600HJDPDOO0DQGDOX\RQJ&LW\
)D[
(PDLOVKDKG#HLPDH
1(2&$5(601RUWK('6$
3URYR]QtGRED6RýWD
WK/HYHO&\EHU]RQH$QQH[%OGJ
60&LW\1RUWK('6$4XH]RQ&LW\
,=5$(/
6SROHþQRVW(DVWURQLFV/7'
$GUHVD5R]DQLV6W32%
7HO$YLY,]UDHO
7HOEH]SODWQČY,]UDHOL
SRSURYR]QtGREČGR
)D[
(PDLOHDVWURQLFV#HDVWURQLFVFRLO
3URYR]QtGRED1HýW
=iUXND3KLOLSV)UVW&KRLFH86$
'ČNXMHPH]D]DNRXSHQtPRQLWRUX3KLOLSV
9ãHFKQ\PRQLWRU\3KLOLSVMVRX
QDYUåHQ\DY\UREHQ\SRGOH
QHMSĜtVQČMãtFKQRUHPDNURPČ
YHOPLNYDOLWQtFKSDUDPHWUĤVHWDNp
VQDGQRLQVWDOXMtLSRXåtYDMt3RNXG
E\VWHQDUD]LOLQDSUREOpP\SĜLLQVWDODFL
QHERSRXåtYiQtWRKRWRSURGXNWXREUDĢWH
VHSĜtPRQD3KLOLSVDY\XåLMWHVYRX]iUXNX
3UYQtYROE\7DWRGYRXOHWi]iUXNDYiP
GiYiEČKHPSUYQtKRURNX]iUXN\QiURNQD
YêPČQXPRQLWRUXQDPtVWČGRKRGLQRG
QDKOiãHQt]iYDG\3RNXGPiWHVPRQLWRUHP
SRWtåHEČKHPGUXKpKRQHERWĜHWtKRURNXRG
]DNRXSHQtRSUDYtPHMHMSRWpFRMHMQDVYp
QiNODG\]DãOHWHSRVN\WRYDWHOLVOXåE\D]SČW
]DãOHPH]GDUPDGRSČWLSUDFRYQtFKGQĤ
20(=(1È=È58.$SRFtWDþRYêPRQLWRU
.OHSQXWtPQDWHQWRRGND]VH]REUD]t
:DUUDQW\5HJLVWUDWLRQ&DUG
'YRXOHWi]iUXNDQDSUiFLDVHUYLVMHGQROHWi
QDYêPČQX]GDUPD
3URGXNWQDKUDGtPHQRYêPQHERRSUDYHQêP
VHVWHMQêPLYODVWQRVWPLYSUYQtPURFH
]iUXN\GRGYRXSUDFRYQtFKGQĤ9HGUXKpP
DWĜHWtPURFHPXVtWHSURGXNWGRRSUDY\
]DVODWQDVYpQiNODG\
.'2-(32.5<7"
0XVtWHSĜHGORåLWGRNODGRQiNXSXDE\VWH
REGUåHOL]iUXþQtVHUYLV'RNODGRSURGHMLD
GDOãtGRNXPHQWGRND]XMtFtåH]DNRXSHQê
YêUREHNMHSRYDåRYDQê]DGĤND]QiNXSX
3ĜLORåWHSĜtUXþNXYODVWQtNDDPČMWHRERMH
SĜLSUDYHQR
&2-(32.5<72"
=iUXNDSODWtRGGQH]DNRXSHQtSURGXNWX
9SUYQtFKGYRXOHWHFK]iUXN\QHSODWtWH
DQLFHQXGtOĤDQLFHQXSUiFHSĜLRSUDYČ
3RVNRQþHQtGUXKpKRURNX]iUXN\SODWtWH
YHãNHUpQiNODG\QDSUiFLLPDWHULiO
9ãHFKQ\GtO\YþHWQČRSUDYHQêFKD
QDKUD]HQêFKMVRXSRNU\W\SRX]HSĤYRGQt
GRERX]iUXN\.G\å]iUXNDSĤYRGQtKR
GtOXY\SUãtY\SUãtWDNp]iUXNDQDYãHFKQ\
Y\PČQČQpDRSUDYHQpYêUREN\DGtO\
&2-(9<-0872"
9DãH]iUXNDQHSRNUêYi
SRSODWN\]DLQVWDODFLþLQDVWDYHQtYêURENX
~SUDY\RYODGDþHYêURENXSUR]iND]QtNDD
LQVWDODFLþLRSUDY\DQWpQQtKRV\VWpPXPLPR
YêUREHN
RSUDY\YêURENXDQHERQDKUD]HQtGtOĤ
]DSĜtþLQČQpQHVSUiYQêPSRXåtYiQtP
QHKRGRXQHDXWRUL]RYDQêPLRSUDYDPLQHER
MLQêPLSĜtþLQDPLNWHUpQHPĤåHRYOLYQLW
3KLOLSV&RQVXPHU(OHFWURQLFV
SUREOpP\VSĜtMPHP]SĤVREHQpVWDYHP
VLJQiOXQHERNDEHORYêPþLDQWpQQtP
V\VWpPHPPLPR]DĜt]HQt
YêUREHNNWHUêY\åDGXMH~SUDY\þL
SĜL]SĤVREHQtNGpNyGRYDQtSURSRXåLWt
YMLQpPVWiWČQHåSURNWHUêE\OQDYUåHQ
Y\UREHQVFKYiOHQDQHERDXWRUL]RYiQQHER
RSUDY\YêURENXSRãNR]HQpKRWDNRYêPL
~SUDYDPL
YêURENHP1HNWHUpVWiW\QHSRYROXMtYêMLPNX
QDKRGLOpKRDQiVOHGQpKRSRãNR]HQt
WDNåHVHQDYiVQHPXVt]PtQHQiYêMLPND
Y]WDKRYDW7D]DKUQXMHDOHQHQtY\PH]HQD
QDSĜHGHP]D]QDPHQDQêPDWHULiODĢV
FRS\ULJKWHPQHEREH]FRS\ULJKWX
PRGHORYpþLYêUREQtþtVORYêURENXE\OR
SR]PČQČQRY\PD]iQRRGVWUDQČQRQHERMH
QHþLWHOQp
.GH-(6(59,6'267831é"
=iUXþQtVHUYLVMHGRVWXSQêYHYãHFK
VWiWHFKNGHMHYêUREHNRILFLiOQČSURGiYiQ
VSROHþQRVWt3KLOLSV&RQVXPHU(OHFWURQLFV
9HVWiWHFKNGHVSROHþQRVW3KLOLSV&RQVXPHU
(OHFWURQLFVYêUREHNQHSURGiYiVHYiP
SRNXVtSRVN\WQRXWVHUYLVPtVWQtVHUYLVQt
RUJDQL]DFH3KLOLSVPĤåHYãDNGRMtWNH
]GUåHQtSRNXGQHEXGRXNGLVSR]LFLSDWĜLþQp
GtO\þLSĜtUXþN\
.GH02+8=Ë6.$79Ë&(,1)250$&Ë"
3URYtFHLQIRUPDFtNRQWDNWXMWH&HQWUXPSpþH
R]iND]QtN\3KLOLSVQDþtVOH
SRX]H]iND]QtFL86$QHER
3ĜHGSRåDGRYiQtPVHUYLVX
3ĜHGSRåDGRYiQtPVHUYLVXVLSURVWXGXMWH
SĜtUXþNXYODVWQtND=GHXYHGHQp~SUDY\
RYOiGiQtYiPPRKRXXãHWĜLWWHOHIRQiWGR
VHUYLVX
$%<67(=Ë6.$/,=È58ý1Ë6(59,69
86$325725,.81(%23$1(16.é&+
267529(&+
.RQWDNWXMWHFHQWUXPSpþHR]iND]QtN\
QiKRGQpþLQiVOHGQpSRãNR]HQt]DSĜtþLQČQp
3KLOLSVQDQtåHXYHGHQêFKWHOHIRQQtFK
þtVOHFKSURDVLVWHQFLYêURENXDVHUYLVQt
SRVWXS\
&HQWUXPSpþHR]iND]QtN\3KLOLSV
QHER
986$3RUWRULNXD3DQHQVNêFKRVWURYHFK
MVRXYãHFKQ\]DKUQXWp]iUXN\YþHWQČ
]DKUQXWêFK]iUXNREFKRGRYDWHOQRVWLD
]SĤVRELORVWLRPH]HQ\QDGREXWUYiQt
REVDåHQRXY]iUXFH$OHSURWRåHQČNWHUp
VWiW\QHXPRåĖXMtRPH]HQtQDGREXWUYiQt
]iUXN\WRWRRPH]HQtVHQDYiVQHPXVt
Y]WDKRYDW
$%<67(=Ë6.$/,=È58ý1Ë6(59,69
.$1$'ċ
NRQWDNWXMWHSURVtP3KLOLSVQDþtVOH
'YRXOHWi]iUXNDQDSUiFLDVHUYLVEXGH
SRVN\WQXWDXDXWRUL]RYDQpKRSURGHMFH
3KLOLSV&DQDGDQHERYDXWRUL]RYDQpP
VHUYLVX
9.DQDGČWDWR]iUXNDQDKUD]XMHYãHFKQ\
RVWDWQt]iUXN\äiGQpMLQp]iUXN\QHMVRX
Y\MiGĜHQ\DQLQHY\SOêYDMtYþHWQČYãHFK
Y\SOêYDMtFtFK]iUXNREFKRGRYDWHOQRVWLQHER
]SĤVRELORVWLSURXUþLWê~þHO3KLOLSVQHQt
]RGSRYČGQê]DåiGQêFKRNROQRVWt]DSĜtPp
QHSĜtPp]YOiãWQtQiKRGQpQHERQiVOHGQp
SRãNR]HQtMDNNROL]SĤVREHQêPLNG\å
MVWHE\OLQDPRåQRVWWDNRYpKRSRãNR]HQt
XSR]RUQČQL
1(=$320(ĕ7(=D]QDPHMWHQtåH
PRGHORYpDVpULRYpþtVORNWHUpMVWHQDOH]OL
QDYêURENX
3ĜHGNRQWDNWRYiQtP3KLOLSVSĜSUDYWHVL
QiVOHGXMtFtGHWDLO\DE\FKRPPRKOLSUREOpP\
Y\ĜHãLWU\FKOH
‡ 7\SRYpþtVOR3KLOLSV
‡ 6pULRYpþtVOR3KLOLSV
‡ 'DWXPQiNXSXNRSLHQiNXSXPXåHEêW
SRåDGRYiQD
‡ 3URFHVRUSURVWĜHGt3&
o 1i]HYDYHU]HRYODGDþH&83D
JUDILFNpNDUW\
o 2SHUDþQtV\VWpP
o 3RXåtYDQiDSOLNDFH
‡ 'DOãtLQVWDORYDQpNDUW\
%XGHWHOLPtWSRUXFHLQiVOHGXMtFt
LQIRUPDFHSRPĤåHWHXU\FKOLWFHOêSRVWXS
‡ 9iãGRNODGRQiNXSXR]QDþXMtFtGDWXP
SURGHMHMPpQRSURGHMFHVpULRYpþtVOR
PRGHOXDYêURENX
‡ ÒSOQiDGUHVDQDNWHURXE\PČOEêW
GRUXþHQê]DPČQČQêYêUREHN
3RX]H]DYROHMWH
2GGČOHQtSRPRFL]iND]QtNĤP3KLOLSVX
QDOH]QHWHSRFHOpPVYČWČ9H6SRMHQêFK
VWiWHFKPĤåHWHNRQWDNWRYDW2GGČOHQtSpþH
R]iND]QtN\RG3RQGČOtGR3iWNXYGREČ
RGGRKRGLQ9êFKRGQtKRþDVX
(7DRVRERWiFKRGGRKRGLQ
9êFKRGQtKRþDVX(7SRPRFtQČNWHUpKR]
NRQWDNWQtFKWHOHIRQQtFKþtVHO
3URYtFHLQIRUPDFtRWRPWRDPQRKDVNYČOêFK
SURGXNWHFK3KLOLSVXQDYãWLYWHQDãtZHERYRX
VWUiQNX
:HERYêVHUYHUKWWSZZZSKLOLSVFRP
02'(/BBBBBBBBBBBBBBBBBBBBBBBBB
6e5,(BBBBBBBBBBBBBBBBBBBBBBBBBB
=iUXNDYiPGiYiXUþLWi]iNRQQiSUiYD
0ĤåHWHPtWGDOãtSUiYDNWHUiVHOLãtSRGOH
VWiWXSURYLQFLH
9DãHPH]LQiURGQt]iUXND
9iåHQê]iND]QtNX
'ČNXMHPHYiP]D]DNRXSHQtYêURENX
3KLOLSVNWHUêE\OQDYUåHQDY\UREHQY
VRXODGXVHVWDQGDUG\QHMY\ããtNYDOLW\
3RNXGE\PČORGRMtWNQČMDNêP]iYDGiP
QDYêURENX3KLOLSV]DUXþXMHEH]SODWQRX
SUiFLDQiKUDGXGtOĤEH]RKOHGXQDVWiW
NGHMHRSUDYRYiQYSRREGREtPČVtFĤRG
GDWDQiNXSX0H]LQiURGQt]iUXND3KLOLSV
GRSOĖXMHH[LVWXMtFtSRYLQQRVWLQiURGQt]iUXN\
NWHUpNYiPPiSURGHMFHD3KLOLSVYHVWiWČ
QiNXSXDQHRYOLYQtYDãH]iNRQQiSUiYDMDNR
]iND]QtND
=iUXND3KLOLSVMHSODWQiSRNXGMHYêUREHN
SRXåtYiQSURQDYUåHQRXSRWĜHEXYVRXODGX
VQiYRGHPDSRSĜLORåHQtRULJLQiOXIDNWXU\
QHERSRNODGQtPGRNODGHPR]QDþXMtFtP
GDWXPQiNXSXMPpQRSURGHMFHDPRGHORYp
DYêUREQtþtVORYêURENX
=iUXND3KLOLSVVHQHY]WDKXMHSRNXG
‡ GRNXPHQW\E\O\MDNêPNROL]SĤVREHP
SR]PČQČQ\QHERMVRXQHþLWHOQp
‡ PRGHORYpþLYêUREQtþtVORYêURENXE\OR
SR]PČQČQRY\PD]iQRRGVWUDQČQR
QHERMHQHþLWHOQp
‡ RSUDY\QHER~SUDY\E\O\SURYHGHQ\
QHDXWRUL]RYDQRXVHUYLVQtRUJDQL]DFt
QHERRVREDPL
‡ SRãNR]HQtMH]DYLQČQRQHKRGDPL
]DKUQXMtFtPLDOHQHRPH]XMtFtPLQDEOHVN
YRGXQHERSRåiUQHSDWĜLþQpSRXåtYiQt
QHER]DQHGEiQt
3URVtPYãLPQČWHVLåHYêUREHNSRG]iUXNRX
QHQtSRãNR]HQêYSĜtSDGČNGHE\O\QXWQp
~SUDY\DE\YêUREHNVSOĖRYDOPtVWQtQHER
QiURGQtWHFKQLFNpVWDQGDUG\MHåMVRX
DSOLNRYiQ\YHVWiWHFKSURNWHUpE\OYêUREHN
SĤYRGQČQDYUåHQDQHERY\UREHQ=WRKRWR
GĤYRGXVHYåG\LQIRUPXMWH]GDMHYêUREHN
PRåQpSRXåtYDWYHYDãt]HPL
9SĜtSDGČåHYiãYêUREHN3KLOLSVQHIXQJXMH
VSUiYQČQHERMHSRUXFKRYêSURVtP
NRQWDNWXMWHYDãHKRSURGHMFH3KLOLSV9
SĜtSDGČåHSRåDGXMHWHVHUYLVYMLQp]HPL
6HNFHSRPRFL]iND]QtNĤP3KLOLSVYGDQpP
VWiWČYiPPĤåHSRVN\WQRXWDGUHVXSURGHMFH
þtVORWHOHIRQXDID[XQDNWHUpPMHPRåQp
QDOp]WVSUiYQêGtOWpWREURåXU\
$E\VWHVHY\KQXOL]E\WHþQêP
QHSĜtMHPQRVWHPGRSRUXþXMHPHYiPDE\VWH
VLSĜHGQiYãWČYRXSURGHMFHSHþOLYČSĜHþHWOL
QiYRG3RNXGQDYDãHRWi]N\QHPĤåH
SURGHMFHRGSRYČGČWSURVtPNRQWDNWXMWH
,QIRUPDþQtFHQWUD]iND]QtNĤ3KLOLSVQHER
QD
:HERYêVHUYHUKWWSZZZSKLOLSVFRP
7ODþtWNR$872QHIXQJXMH
‡ $XWRPDWLFNiIXQNFHMHSRXåLWHOQi
SRX]HYUHåLPX9*$DQDORJRYê3RNXG
YêVOHGHNQHQtXVSRNRMLYêPĤåHWH
SURYpVWUXþQt~SUDY\SURVWĜHGQLFWYtP
QDEtGN\26'
2GVWUDĖRYiQtSUREOpPĤ
DþDVWpGRWD]\
2GVWUDĖRYiQtSUREOpPĤ
1DWpWRVWUiQFHMVRXXYHGHQ\SUREOpP\
3R]QiPND
NWHUpPĤåHRGVWUDQLWXåLYDWHO3RNXGSUREOpP $XWRPDWLFNiIXQNFHQHQtSRXåLWHOQiY
SĜHWUYiYiLSRY\]NRXãHQtWČFKWRĜHãHQt
UHåLPX'9,GLJLWiOQtSURWRåHMH]E\WHþQi
NRQWDNWXMWH]iVWXSFHVOXåHESUR]iND]QtN\
9LGLWHOQp]QiPN\NRXĜHQHERMLVNĜHQt
VSROHþQRVWL3KLOLSV
‡ 1HSURYiGČMWHåiGQpNURN\SUR
RGVWUDĖRYiQtSUREOpPĤ
%ČåQpSUREOpP\
‡ 3UR]DMLãWČQtEH]SHþQRVWLLKQHGRGSRMWH
PRQLWRURG]GURMHQDSiMHQt
äiGQêREUD]LQGLNiWRU/('QDSiMHQt
‡ ,KQHGNRQWDNWXMWH]iVWXSFHVOXåHESUR
QHVYtWt
]iND]QtN\VSROHþQRVWL3KLOLSV
‡ =NRQWUROXMWH]GDMHQDSiMHFtNDEHO
SĜLSRMHQNHOHNWULFNp]iVXYFHDGR]DGQt
3UREOpP\VH]REUD]HQtP
þiVWLPRQLWRUX
‡ 1HMGĜtYH]NRQWUROXMWH]GDVHY\StQDþ
2EUD]QHQtY\VWĜHGČQ
QDSĜHGQtVWUDQČPRQLWRUXQDFKi]tYH
‡ 8SUDYWHSRORKXREUD]XSRPRFtIXQNFH
9<3187eSROR]HDVWLVNQČWHMHMGR
Ä$XWR³YKODYQtFKRYOiGDFtFKSUYFtFK
=$3187eSRORK\
26'
‡ 8SUDYWHSRORKXREUD]XSRPRFtSRORåHN
äiGQêREUD]LQGLNiWRU/('QDSiMHQtEOLNi
3KDVH&ORFN)i]HIUHNYHQFHYþiVWL
EtOH
6HWXS1DVWDYHQtY26'0DLQ&RQWUROV
‡ =NRQWUROXMWH]GDMH]DSQXWêSRþtWDþ
+ODYQtRYOiGDFtSUYN\26'7DWRIXQNFH
‡ =NRQWUROXMWH]GDMHNDEHOVLJQiOXĜiGQČ
MHSODWQiSRX]HYUHåLPX9*$
SĜLSRMHQNSRþtWDþL
‡ =NRQWUROXMWH]GDQHMVRXRKQXWpNROtN\
2EUD]VHFKYČMHQDREUD]RYFH
QDSĜLSRMRYDFtVWUDQČNDEHOXPRQLWRUX
‡ =NRQWUROXMWH]GDMHNDEHOVLJQiOXĜiGQČ
3RNXGDQRRSUDYWHQHERY\PČĖWHNDEHO
DEH]SHþQČSĜLSRMHQNHJUDILFNpGHVFH
‡ 3UDYGČSRGREQČMHDNWLYRYiQDIXQNFH
QHERNSRþtWDþL
Ĝt]HQtVSRWĜHE\
'RFKi]tNHVYLVOpPXEOLNiQt
2EUD]RYNDĜtNi
‡ =NRQWUROXMWH]GDMHNDEHOPRQLWRUXĜiGQČ
SĜLSRMHQNSRþtWDþL5RYQČåYL]6WUXþQi
LQVWDODþQtSĜtUXþND
‡ =NRQWUROXMWH]GDQHMVRXRKQXWpNROtN\
NDEHOXPRQLWRUX
‡ =NRQWUROXMWH]GDMH]DSQXWêSRþtWDþ
‡ 8SUDYWHSRORKXREUD]XSRPRFtIXQNFH
Ä$XWR“YKODYQtFKRYOiGDFtFKSUYFtFK
26'
‡ 2PH]WHVYLVOpSUXK\SRPRFtSRORåHN
QHERÄ]REUD]HQtGXFKĤ³QH]PL]tDQHO]H
3KDVH&ORFN)i]HIUHNYHQFHYþiVWL
MHRSUDYLW1DYêãHXYHGHQpSRãNR]HQt
6HWXS1DVWDYHQtY26'0DLQ&RQWUROV
VHQHY]WDKXMH]iUXND
+ODYQtRYOiGDFtSUYN\26'7DWRIXQNFH
MHSODWQiSRX]HYUHåLPX9*$
2EUD]MH]GHIRUPRYDQê7H[WMHQHMDVQê
QHERUR]PD]DQê
'RFKi]tNYRGRURYQpPXEOLNiQt
‡ 1DVWDYWHUR]OLãHQt]REUD]HQtSRþtWDþH
QDVWHMQêUHåLPYMDNpPVHQDFKi]t
GRSRUXþHQpQDWLYQtUR]OLãHQtREUD]RYN\
PRQLWRUX
‡ 8SUDYWHSRORKXREUD]XSRPRFtIXQNFH
Ä$XWR“YKODYQtFKRYOiGDFtFKSUYFtFK
26'
‡ 2PH]WHVYLVOpSUXK\SRPRFtSRORåHN
3KDVH&ORFN)i]HIUHNYHQFHYþiVWL
6HWXS1DVWDYHQtY26'0DLQ&RQWUROV
+ODYQtRYOiGDFtSUYN\26'7DWRIXQNFH
MHSODWQiSRX]HYUHåLPX9*$
2EUD]MHUR]PD]DQêQHYêUD]QêQHER
SĜtOLãWPDYê
‡ 8SUDYWHNRQWUDVWDMDVQDREUD]RYFH
26'
Ä'RVYLW³ÄY\SiOHQt³QHER³]REUD]HQt
GXFKĤ³]ĤVWDQHSRY\SQXWtQDSiMHQt
‡ 'ORXKRGREpQHSĜHUXãRYDQp]REUD]HQt
QHK\EQpKRQHERVWDWLFNpKRREUD]X
PĤåH]SĤVRELWÄY\SiOHQt³REUD]RYN\
URYQČå]QiPpMDNRÄGRVYLW³QHER
Ä]REUD]HQtGXFKĤ³Ä9\SiOHQt³ÄGRVYLW³
QHERÄ]REUD]HQtGXFKĤ³MHGREĜH]QiPê
MHYXWHFKQRORJLHSDQHOĤ/&'9PQRKD
SĜtSDGHFKÄY\SiOHQt³ÄGRVYLW³QHER
Ä]REUD]HQtGXFKĤ³SRVWXSQČ]PL]tSR
XUþLWpGREČPLPRSURYR]
‡ 3ĜHGSRQHFKiQtPPRQLWRUXEH]GR]RUX
YåG\DNWLYXMWHVSRĜLþREUD]RYN\
‡ %XGHOLQDYDãHPPRQLWRUX]REUD]HQ
QHPČQtFtVHVWDWLFNêREVDKYåG\
DNWLYXMWHDSOLNDFLSURSUDYLGHOQRXREQRYX
REUD]RYN\
‡ 9iåQpSĜt]QDN\ÄY\SiOHQt³ÄGRVYLWX³
1DREUD]RYFHVHREMHYXMt]HOHQpþHUYHQp
PRGUpWPDYpDEtOpWHþN\
‡ =EêYDMtFtERG\MVRXQRUPiOQtYODVWQRVWt
WHNXWêFKNU\VWDOĤSRXåtYDQêFK
VRXþDVQRXWHFKQRORJLt'DOãtSRGUREQRVWL
YL]SUDYLGODSURREUD]RYpERG\
6YČWORLQGLNiWRUXÄQDSiMHQt³MHSĜtOLãVLOQp
DUXãt
‡ 0ĤåHWHQDVWDYLWLQWHQ]LWXVYČWOD
LQGLNiWRUXÄQDSiMHQt³YþiVWL3RZHU/('
,QGLNiWRU/('QDSiMHQtYþiVWL6HWXS
1DVWDYHQtY26'0DLQ&RQWUROV+ODYQt
RYOiGDFtSUYN\QDEtGN\26'
3RWĜHEXMHWHOLGDOãtSRPRFYL]VH]QDP
,QIRUPDþQtVWĜHGLVNDSUR]iND]QtN\D
NRQWDNWXMWH]iVWXSFHVOXåHESUR]iND]QtN\
VSROHþQRVWL3KLOLSV
‡ 2SHUDþQtV\VWpP:LQGRZV
E\O]DYHGHQNG\åE\OPRQLWRU
Y\SQXWêQHERRGSRMHQê
&KFHWHOL]tVNDWGDOãt
LQIRUPDFHNOHSQČWHSUDYêP
WODþtWNHPP\ãLQD0\&RPSXWHU
7HQWRSRþtWDþDNOHSQČWH
QD3URSHUWLHV9ODVWQRVWL
!+DUGZDUH+DUGZDUH!
'HYLFH0DQDJHU6SUiYFH
]DĜt]HQt
3RNXGMHSRGSRORåNRX
0RQLWRUXYHGHQRÄ3OXJDQG
3OD\0RQLWRU³0RQLWRU3OXJ
DQG3OD\MHWĜHEDSURYpVW
QRYRXLQVWDODFL-HGQRGXãH
RGHEHUWHD]QRYXQDLQVWDOXMWH
6PDUW&RQWURO/LWH
6PDUW&RQWURO/LWHþDVWpGRWD]\
27È=.$ =PČQLOMVHPPRQLWRUY
SRþtWDþL]DMLQêDWHFKQRORJLH
6PDUW&RQWURO/LWHVHVWDOD
QHSRXåLWHOQRXFRPiP
GČODW"
2GSRYČć 5HVWDUWXMWHSRþtWDþD]MLVWČWH
]GDWHFKQRORJLH6PDUW&RQWURO
/LWHIXQJXMH9RSDþQpP
SĜtSDGČEXGHWĜHEDRGHEUDW
D]QRYXQDLQVWDORYDW
6PDUW&RQWURO/LWHDE\E\OR
]DMLãWČQRåHMHQDLQVWDORYiQ
VSUiYQêRYODGDþ
27È=.$ 7HFKQRORJLH6PDUW&RQWURO
/LWHGĜtYHGREĜHIXQJRYDOD
DOHQ\QtQHIXQJXMHFRPiP
GČODW"
2GSRYČć 3RNXGE\O\SURYHGHQD
QiVOHGXMtFtNURN\EXGH
SUDYGČSRGREQČQXWQp]QRYX
QDLQVWDORYDWRYODGDþPRQLWRUX
‡ 3RXåLMWHMLQêJUDILFNêDGDSWpU
YLGHD
‡ =DNWXDOL]XMWHRYODGDþYLGHD
‡ ýLQQRVWLQDRSHUDþQtP
V\VWpPXQDSĜtNODGDNWXDOL]DFH
QHERRSUDYD
‡ 6SXVĢWHVOXåEX$NWXDOL]DFH
:LQGRZVD]DNWXDOL]XMWH
RYODGDþPRQLWRUXDQHERYLGHD
27È=.$ .G\åSRQDLQVWDORYiQt
6PDUW&RQWURO/LWHNOHSQXQD
NDUWX6PDUW&RQWURO/LWHDQL
SRFKYtOLVHQLFQH]REUD]t
QHERVH]REUD]t]SUiYDR
FK\EČFRVHVWDOR"
2GSRYČć 9iãJUDILFNêDGDSWpU
SUDYGČSRGREQČQHQt
NRPSDWLELOQtVWHFKQRORJLt
6PDUW&RQWURO/LWH3RNXGMH
YiãJUDILFNêDGDSWpUPH]L
YêãHXYHGHQêPL]QDþNDPL
]NXVWHVWiKQRXWQHMDNWXiOQČMãt
RYODGDþJUDILFNpKRDGDSWpUX
]ZHERYêFKVWUiQHN
SĜtVOXãQpKRYêUREFH
1DLQVWDOXMWHRYODGDþ
2GHEHUWHD]QRYXQDLQVWDOXMWH
6PDUW&RQWURO/LWH
3RNXGSĜHVWRQHIXQJXMH
JUDILFNêDGDSWpUERKXåHOQHQt
SRGSRURYiQ1DZHERYpP
VHUYHUXVSROHþQRVWL3KLOLSV
]MLVWČWH]GDMHNGLVSR]LFL
]DNWXDOL]RYDQêRYODGDþ
6PDUW&RQWURO/LWH
27È=.$ 3RNOHSQXWtQD3URGXFW
,QIRUPDWLRQ,QIRUPDFHR
SURGXNWXVH]REUD]tSRX]H
þiVWHþQpLQIRUPDFHFRVH
VWDOR"
2GSRYČć 3UDYGČSRGREQČQHPiWH
NGLVSR]LFLQHMDNWXiOQČMãtYHU]L
RYODGDþHDGDSWpUXJUDILFNp
NDUW\NWHUiSOQČSRGSRUXMH
UR]KUDQt''&&,3RNXVWH
VHVWiKQRXWQHMDNWXiOQČMãt
RYODGDþJUDILFNpKRDGDSWpUX
]ZHERYêFKVWUiQHN
SĜtVOXãQpKRYêUREFH
1DLQVWDOXMWHRYODGDþ
2GHEHUWHD]QRYXQDLQVWDOXMWH
6PDUW&RQWURO/LWH
27È=.$ 27È=.$=DSRPQČOMVHP
VYĤMNyG3,1SURIXQNFL
]DEH]SHþHQtSURWLNUiGHåL
&RPRKXXGČODW"
2GSRYČć 6HUYLVQtVWĜHGLVNR3KLOLSV
PiSUiYRåiGDWOHJLWLPQt
LGHQWLILNDFLDRYČĜHQtSUR
]MLãWČQtYODVWQLFWYtPRQLWRUX
8SR]RUĖXMHPHYiVåHIXQNFH
RFKUDQ\SURWLNUiGHåLMHN
GLVSR]LFLMDNRVQDGQiD
EH]SODWQiPRåQRVW=DVSUiYX
þtVHO3,1QHVHYêKUDGQt
RGSRYČGQRVWNRQNUpWQtRVRED
QHERRUJDQL]DFHNWHUiML
MPHQXMH
3RNXGþtVOR3,1]DSRPHQHWH
VHUYLVQtVWĜHGLVNR3KLOLSVMHM
PĤåHSURYiV]QRYXQDVWDYLW
]DQRPLQiOQtSRSODWHNSR
RYČĜHQtYODVWQLFWYt
8SR]RUĖXMHPHYiVåHQDWXWR
þLQQRVWVHQHY]WDKXMtSRGPtQN\
VWDQGDUGQt]iUXN\
2EHFQpþDVWpGRWD]\
27È=.$ -DNiMHGRSRUXþHQi
REQRYRYDFtIUHNYHQFH
PRQLWRUX/&'"
27È=.$ .G\åQDLQVWDOXMLVYĤM
PRQLWRUFRPiPXGČODWNG\å 2GSRYČć 'RSRUXþHQiREQRYRYDFt
IUHNYHQFHXPRQLWRUĤ/&'MH
VHQDREUD]RYFH]REUD]t
+]9SĜtSDGČMDNpKRNROL
]SUiYDÄ&DQQRWGLVSOD\WKLV
UXãHQtQDREUD]RYFHMLPĤåHWH
YLGHRPRGH³7HQWRUHåLP
QDVWDYLWQD+]DXYLGtWH
YLGHDQHO]H]REUD]LW"
]GDUXãHQt]PL]t
2GSRYČć 'RSRUXþHQpUR]OLãHQtSUR
3KLOLSV[SĜL
27È=.$ &RMVRXVRXERU\LQIDLFP
+]
QDGLVNX&'520"-DNO]H
‡ 2GSRMWHYãHFKQ\NDEHO\SRWRP
QDLQVWDORYDWRYODGDþHLQID
SĜLSRMWHSRþtWDþNPRQLWRUX
LFP"
NWHUêMVWHSRXåLOLSĜHGWtP
‡ 9QDEtGFH6WDUWRSHUDþQtKR
2GSRYČć -HGQiVHRVRXERU\RYODGDþH
V\VWpPX:LQGRZVY\EHUWH
PRQLWRUX3ĜLLQVWDODFLRYODGDþĤ
6HWWLQJV&RQWURO3DQHO
SRVWXSXMWHSRGOHSRN\QĤ
1DVWDYHQt2YOiGDFtSDQHO\
YXåLYDWHOVNpSĜtUXþFH3ĜL
9RNQČ&RQWURO3DQHO2YOiGDFt
SUYQtLQVWDODFLEXGHSRþtWDþ
SDQHO\Y\EHUWHLNRQX'LVSOD\
SUDYGČSRGREQČSRåDGRYDW
=REUD]HQt1DSDQHOX'LVSOD\
RYODGDþHPRQLWRUXVRXERU\LQI
&RQWURO=REUD]HQt±YODVWQRVWL
DLFPQHERGLVNVRYODGDþL
Y\EHUWHNDUWXÄ6HWWLQJV³
3RVWXSXMWHSRGOHSRN\QĤD
1DVWDYHQt1DNDUWČ
YORåWHGRSURYRGQêGLVN&'
QDVWDYHQtYSROLR]QDþHQpP
520NWHUêMHVRXþiVWtWpWR
ÄGHVNWRSDUHD³SUDFRYQt
VDG\2YODGDþHPRQLWRUX
SORFKDSĜHVXĖWHSRVXYQtNQD
VRXERU\LQIDLFPEXGRX
[REUD]RYêFKERGĤ
QDLQVWDORYiQ\DXWRPDWLFN\
‡ .OHSQČWHQDÄ$GYDQFHG
27È=.$ -DNPiPXSUDYLWUR]OLãHQt"
3URSHUWLHV³8SĜHVQLW
QDVWDYWHSRORåNX5HIUHVK5DWH 2GSRYČć 'RVWXSQiUR]OLãHQtXUþXMH
JUDILFNiNDUWDRYODGDþJUDILN\D
2EQRYRYDFtIUHNYHQFHQD
PRQLWRU3RåDGRYDQpUR]OLãHQt
+]DSRWRPNOHSQČWHQD2.
PĤåHWHY\EUDWYþiVWL&RQWURO
‡ 5HVWDUWXMWHSRþtWDþD
3DQHO2YOiGDFtSDQHO\
]RSDNRYiQtPNURNXD
V\VWpPX:LQGRZV®YþiVWL
RYČĜWH]GDMHSRþtWDþQDVWDYHQ
Ä'LVSOD\SURSHUWLHV³=REUD]HQt
QD[SĜL+]
YODVWQRVWL
‡ 9\SQČWHSRþtWDþRGSRMWH
VWDUêPRQLWRUD]QRYXSĜLSRMWH
PRQLWRU/&'3KLOLSV
‡ =DSQČWHPRQLWRUDSRWRP
]DSQČWHSRþtWDþ
&RORU7HPSHUDWXUH7HSORWD
EDUHYNGLVSR]LFLMHãHVW
QDVWDYHQt..
...D
.3ĜLQDVWDYHQtY
UR]VDKX.Y\SDGDMt
EDUY\QDSDQHOXÄWHSOp³V
þHUYHQREtOêPEDUHYQêPWyQHP
]DWtPFRSĜLQDVWDYHQtWHSORW\
.Y\SDGDMtEDUY\QD
SDQHOXÄVWXGHQp³VPRGUREtOêP
EDUHYQêPWyQHP
27È=.$ &RNG\åVHEČKHP
QDVWDYHQtPRQLWRUX]WUDWtP
SURVWĜHGQLFWYtPQDEtGN\
26'"
2GSRYČć -HGQRGXãHVWLVNQČWHWODþtWNR
2.DSRWRPYROERXÄ5HVHW³
2EQRYLWREQRYWHYãHFKQD
SĤYRGQtQDVWDYHQtYêUREFH
27È=.$ -HREUD]RYND/&'RGROQi
SURWLSRãNUiEiQt"
2GSRYČć 2EHFQČVHGRSRUXþXMH
QHY\VWDYRYDWSRYUFKSDQHOX
QDGPČUQêP~GHUĤPDFKUiQLW
MHMSĜHGRVWUêPLQHERWXSêPL
SĜHGPČW\3ĜLPDQLSXODFL
VPRQLWRUHPQHY\YtMHMWHQD
SRYUFKSDQHOXåiGQêWODNDQL
VtOX0RKORE\WRQHJDWLYQČ
RYOLYQLWYDãH]iUXþQtSRGPtQN\
V5*%VWDQGDUGSUR]DMLãWČQt
VSUiYQpSĜHQRVXEDUHYPH]L
UĤ]QêPL]DĜt]HQtPLQDSĜ
GLJLWiOQtIRWRDSDUiW\PRQLWRU\
WLVNiUQ\VNHQHU\DWG
8VHU'HILQH8åLYDWHOVNp
XåLYDWHOVLPĤåH]YROLWYODVWQt
QDVWDYHQtEDUHYXSUDYHQtP
þHUYHQp]HOHQpDPRGUpVORåN\
27È=.$ -DNO]HþLVWLWSRYUFK
PRQLWRUX/&'"
3R]QiPND
0ČĜHQtVYČWODEDUY\NWHUpY\]DĜXMH
SĜHGPČWSĜL]DKĜtYiQt7RWRPČĜHQtMH
2GSRYČć 3UREČåQpþLãWČQtSRXåLMWH
Y\MiGĜHQRYDEVROXWQtPPČĜtWNXVWXSQČ
þLVWêDPČNNêKDGĜtN3UR
.HOYLQD1LåãtWHSORW\.HOYLQDQDSĜtNODG
GĤNODGQpþLãWČQtSRXåLMWH
.MVRXþHUYHQpY\ããtWHSORW\MDNR
L]RSURS\ODONRKRO1HSRXåtYHMWH
QDSĜtNODG.MVRXPRGUp1HXWUiOQt
åiGQiMLQiUR]SRXãWČGODMDNR
WHSORWDMHEtOiSĜL.
HW\ODONRKROHWDQRODFHWRQ
KH[DQDWG
27È=.$ /]HPČQLWQDVWDYHQtEDUHY
PRQLWRUX"
27È=.$ /]HSĜLSRMLWWHQWRPRQLWRU
/&'NOLERYROQpPXSRþtWDþL
SUDFRYQtVWDQLFLQHER
2GSRYČć $QRQDVWDYHQtEDUHYPĤåHWH
SRþtWDþL0DF"
]PČQLWSURVWĜHGQLFWYtPQDEtGN\
26'SRGOHQiVOHGXMtFtFK
2GSRYČć $QR9ãHFKQ\PRQLWRU\/&'
NURNĤ
3KLOLSVMVRXSOQČNRPSDWLELOQt
‡ 6WLVNQXWtPWODþtWNDÄ2.³
VHVWDQGDUGQtPLSRþtWDþL
]REUD]WHQDEtGNX26'
SRþtWDþL0DFDSUDFRYQtPL
‡ 6WLVNQXWtPWODþtWNDÄâLSND
VWDQLFHPL3URSĜLSRMHQt
GROĤ³Y\EHUWHYROEXÄ%DUYD³
PRQLWRUXNV\VWpPX0DFPĤåH
DVWLVNQXWtPWODþtWNDÄ2.³
EêW]DSRWĜHEtNDEHORYêDGDSWpU
SĜHMGČWHQDQDVWDYHQtEDUHY.
'DOãtLQIRUPDFHYiPSRVN\WQH
GLVSR]LFLMVRXWĜLQDVWDYHQtYL]
QHMEOLåãtREFKRGQt]iVWXSFH
QtåH
3KLOLSV
27È=.$-VRXPRQLWRU\3KLOLSV/&'
Y\EDYHQ\WHFKQRORJLt3OXJ
DQG3OD\"
2GSRYČć $QRW\WRPRQLWRU\MVRX
NRPSDWLELOQtVWHFKQRORJLt3OXJ
DQG3OD\YRSHUDþQtPV\VWpPX
:LQGRZV9LVWD;3170DF
26;D/LQX[
%XGHOLQDYDãHPPRQLWRUX
]REUD]HQQHPČQtFtVHVWDWLFNê
REVDKYåG\DNWLYXMWHDSOLNDFL
SURSUDYLGHOQRXREQRYX
REUD]RYN\
9êVWUDKD
9
iåQpSĜt]QDN\ÄY\SiOHQt³ÄGRVYLWX³
QHERÄ]REUD]HQtGXFKĤ³QH]PL]tDQHO]H
MHRSUDYLW1DYêãHXYHGHQpSRãNR]HQt
VHQHY]WDKXMH]iUXND
27È=.$3URþVHQDGLVSOHML
QH]REUD]XMHRVWUêWH[WDSURþ
PDMt]REUD]HQp]QDN\]XEDWp
RNUDMH"
27È=.$-DNêGUXKãLURNR~KOp
WHFKQRORJLHMHNGLVSR]LFL"
2GSRYČć 9VRXþDVQRVWLQDEt]HMt
SDQHO\W\SX,36QHMOHSãt
NRQWUDVWQtSRPČUYSRURYQiQt
VWHFKQRORJLHPL09$QHER
39$3DQHO\71E\O\
EČKHPOHW]GRNRQDOHQ\DOH
SĜHVWRQHPRKRXGRVDKRYDW
NRQWUDVWQtKRSRPČUXNWHUê
QDEt]tSDQHO,36
2GSRYČć 9iãPRQLWRU/&'QHMOpSH
SUDFXMHSĜLVYpPQDWLYQtP
UR]OLãHQt[SĜL
+]3RXåtYHMWHWRWRUR]OLãHQt
SURGRVDåHQtRSWLPiOQtKR
]REUD]HQt
27È=.$&R]QDPHQiOSČQtREUD]X
Y\SiOHQtREUD]XGRVYLW
QHERÄGXFK³YVRXYLVORVWLV
SDQHO\/&'"
2GSRYČć 'ORXKRGREpQHSĜHUXãRYDQp
]REUD]HQtQHK\EQpKRQHER
VWDWLFNpKRREUD]XPĤåH
]SĤVRELWÄY\SiOHQt³REUD]RYN\
URYQČå]QiPpMDNRÄGRVYLW³
QHERÄ]REUD]HQtGXFKĤ³
Ä9\SiOHQt³ÄGRVYLW³QHER
Ä]REUD]HQtGXFKĤ³MHGREĜH
]QiPêMHYXWHFKQRORJLHSDQHOĤ
/&'9PQRKDSĜtSDGHFK
ÄY\SiOHQt³ÄGRVYLW³QHER
Ä]REUD]HQtGXFKĤ³SRVWXSQČ
]PL]tSRXUþLWpGREČPLPR
SURYR]
3ĜHGSRQHFKiQtPPRQLWRUXEH]
GR]RUXYåG\DNWLYXMWHVSRĜLþ
REUD]RYN\
‹.RQLQNOLMNH3KLOLSV(OHFWURQLFV199ãHFKQDSUiYD
Y\KUD]HQD
3KLOLSVDHPEOpPãWtWX3KLOLSVMVRXUHJLVWURYDQpREFKRGQt]QiPN\
.RQLQNOLMNH3KLOLSV(OHFWURQLFV19DMVRXSRXåtYiQ\YOLFHQFLRG
.RQLQNOLMNH3KLOLSV(OHFWURQLFV19
=PČQDWHFKQLFNêFK~GDMĤEH]SĜHGFKR]tKRXSR]RUQČQtY\KUD]HQD
9HU]H0(7

Podobné dokumenty

www.philips.com/welcome CS Użivatelská přírućka 1 Péće o

www.philips.com/welcome CS Użivatelská přírućka 1 Péće o JUDILFNpKRUR]KUDQtQDREUD]RYFH6ORåLWi QDVWDYHQtPYêNRQXPRQLWRUX QDVWDYHQtMVRXPLQXORVWtSURWRåHWHQWR ‡ 3UĤYRGFHPĤåHWHURYQČåVSXVWLWSR]GČML XåLYDWHOVNêSĜtMHPQêVRIWZDUHYiVSURYHGH...

Více

Zde - PHARMANEWS

Zde - PHARMANEWS XVQDGĿXMHNRPELQDFLNRMHQt GĿ M N EL L N M t DNUPHQtODKYt ‡ 2KHEQpVLOLNRQRYpGXGOtN\YHWYDUXEUDGDYN\VWLPXOXMtSŏLUR]HQîVDFt UHÁH[GtWĖWH'tWĖVLVDPRNRQWUROXMHSUţWRNPOpNDMDNRSŏLNR...

Více

Pharma news CZ 04_2014

Pharma news CZ 04_2014 ‡ /iKHYPi]GRNRQDOHQîDQWLNROLNRYîV\VWpPVLQRYRYDQîPGYRMLWîP YHQWLOHPNWHUîVQLçXMHUL]LNRY]QLNXNROLN\ ‡ 3KLOLSV$9(17XçOHWSURYiGtYî]NXP\DE\SŏLQHVOYîUREN\VQHMY\ååt NYDOLWR...

Více

Zde - PHARMANEWS

Zde - PHARMANEWS 3RKRGOQĕMätSRORKDSŎLRGViYiQt SURSO\QXOHMåtSUţWRNPOpND 9]SŏtPHQiSR]LFHSŏLRGViYiQt SRPiKiPDPLQFHFtWLWVH SRKRGOQĖMLDRGViWYtFHPOpND 0ĕNNiPDViæQtYORæND SURMHPQRXVWLPXODFLSUVX ...

Více