povzbuzující recepty plné živin

IN 172837 M
doporučuje
UŽIVATELSKÁ PŘÍRUČKA & VÝŽIVOVÝ PRŮVODCE
Užijte si život na MAXIMUM tak,
že získáte MAXIMUM ze svého jídla.
1/112
POVZBUZUJÍCÍ RECEPTY PLNÉ ŽIVIN
'ğ/(æ,7É%(=3(ÿ12671Ì
832=251ć1Ì
3ĕ('3591Ì0328æ,7Ì06,32=251ć3ĕ(ÿ7ć7(
89('(1e32.<1<$86&+29(-7(-(
3ĥL]DFKi]HQtVHOHNWULFNøPLVSRWĥHELĆLMHWĥHEDGRGUçRYDW]iNODGQt
EH]SHĆQRVWQtRSDWĥHQt
‡ 1HSRQRĥXMWHNDEHO]iVWUĆNXQHERWĕORSĥtVWURMHGRYRG\QHERMLQøFK
WHNXWLQMLQDNKUR]tQHEH]SHĆtHOHNWULFNpKRåRNX
‡ 1HGRSRUXĆXMHPHSRXçtYDWQHRULJLQiOQtGRSOğN\DSĥtVOXåHQVWYt7RE\PRKOR
]SĭVRELWSRçiUUL]LNRHOHNWULFNpKRåRNXQHER]UDQĕQt
‡ 3RSRXçLWtY\SRMWHVSRWĥHELĆ]HOHNWULFNpVtWĕ9\SRMWHKRWDNpSĥHG
MDNøPNROLYĆLåWĕQtPQHER~GUçERX
‡ 1HWDKHMWH]DSĥtYRGQtNDEHODQHSĥHNUXFXMWHKR
‡ 1HQHFKWHNDEHOYLVHWSĥHVKUDQXVWROXQHEROLQN\
‡ .DEHOVHQHVPtGRWøNDWKRUNøFKSRYUFKĭYĆHWQĕVSRUiNX
‡ 3UDYLGHOQĕNRQWUROXMWHSĥtYRGQtNDEHOD]iVWUĆNX-HOLSRåNR]HQøNDEHOMH
WĥHEDMHMQHFKDWRSUDYLWYDXWRUL]RYDQpPVHUYLVX3ĥLQHRGERUQpRSUDYĕKUR]t
YHONpEH]SHĆQRVWQtUL]LNR9SĥtSDGĕSRUXFK\NRQWDNWXMWHSURGHMFH
‡ 9\KQĕWHVHNRQWDNWXVSRK\EOLYøPLĆiVWPLSĥtVWURMH
‡ 3ĥLNUiMHQtDPL[RYiQtVHQHGRWøNHMWHUXNDPDDQLNXFK\ğVNøPQiĆLQtP
SRK\EOLYøFKĆHSHOt+UR]t]UDQĕQtQHERSRåNR]HQtVSRWĥHELĆH1iĆLQtO]H
SRXçtWMHQYHFKYtOLNG\MHSĥtVWURMY\SQXWø
‡ 0RWRUSĥtVWURMHE\QHPĕOEøWYQHSĥHWUçLWpPFKRGXGpOHQHçPLQXWXMLQDN
KUR]tSRåNR]HQtSĥtVWURMH3RNXGPRWRUSĥHVWDQHSUDFRYDWY\SRMWHWĕOR
SĥtVWURMH]HVtWĕDQHFKWHKRQDKRGLQXY\FKODGQRXW3RWp]NXVWHSĥtVWURM
]QRYX]DSQRXW1875,%8//(7PiYHVWDYĕQRXWHSHOQRXSRMLVWNXNWHUiSĥtVWURM
Y\SQHYHFKYtOLNG\VH]DĆQHSĥHKĥtYDW
‡ 9çG\VHXMLVWĕWHçHMHYtĆNRVĆHSHOHPLĥiGQĕSĥLåURXERYDQpNQiGREĕ3RWp
PĭçHWHQiGREXXPtVWLWQDWĕORSĥtVWURMHDWHSUYHSRWpO]H]DKiMLWPL[RYiQt
‡ 1HQHFKiYHMWHVSRWĥHELĆ]DSQXWøEH]GR]RUX
‡ 3RNXGSĥtVWURMSRXçtYDMtGĕWLMHWĥHEDSHĆOLYøGRKOHGGRVSĕOpKR
‡ 1875,%8//(7QHSRXçtYHMWHYHQNXNGHE\PRKOEøWY\VWDYHQøSRYĕWUQRVWQtP
SRGPtQNiPMDNRGHåWLQHERYOKNX
‡ ąHSHOHMVRXRVWUp0DQLSXOXMWHVQLPLRSDWUQĕ
‡ 3ĥHGNDçGøPPL[RYiQtPVHXMLVWĕWHçHMHWĕVQLFtYtĆNRVĆHSHOHPLĥiGQĕ
SĥLåURXERYDQpNPL[RYDFtQiGREĕ
‡ 1875,%8//(7QHQtXUĆHQøNSRXçLWtYPLNURYOQQpWURXEĕ1HGiYHMWH
QiGRE\WĕORSĥtVWURMHQHERSĥtVOXåHQVWYt1875,%8//(7GRPLNURYOQQp
WURXE\
‡ .SĥtSUDYĕNRNWHMOĭQHSRXçtYHMWHV\FHQpQiSRMH8YROğXMtFtVHSO\Q\E\PRKO\
]SĭVRELWWODNNWHUøE\UR]HUYDOQiGREX
‡ 9çiGQp]QiGREQHPL[XMWHKRUNpWHNXWLQ\
‡ 1HSRXåWĕMWH1875,%8//(7QDSUi]GQR
2/112
832=251ć1Ì
‡ 32.8'8æÌ9É7(/e.<1$61Ìæ(1Ì+/$',1<&+2/(67(52/8
Ĥ('Ĕ1Ì.59(.5(91Ì7/$.6('$7,9$1(%2$17,'(35(6,9$
.21=8/78-7(.21=80$&,.2.7(-/Ĭ32'/(1$95æ(1ë&+
5(&(37Ĭ6(69ë0/e.$Ĥ(0
‡ 1Ìæ(9<-0(129$1É-$'e5.$$3(&.<2%6$+8-Ì/É7.<
.7(5e97Ĕ/(892/Ğ8-Ì.<$1,'35272-(1(328æÌ9(-7(
$1,3Ĥ,9ë52%Ĕ683(59ëæ,91e+2.2.7(-/8
-$'e5.$-$%/(.3(&.<0(581Ĕ.7Ĥ(ä1Ìä9(67(.
$%526.9Ì
%(=3(ÿ12673ĕ,ÿ,ä7ć1Ì
‡ ą(3(/(1(0<-7(90<ą&(1É'2%Ì80<-7(-(958&(
3202&Ì7(3/e92'<$6$321É78
‡ 1É'2%<1875,%8//(76('$-Ì0ë790<ą&(1É'2%Ì
9+251Ì3Ĥ,+5É'&(3Ĥ,%Ĕæ1e00<&Ì0&<./87<72
1É'2%<%<6(1(0Ĕ/<9<9$Ĥ29$79+25.e92'Ĕ
35272æ(7$%<02+/$='()25029$73/$67
‡ 3Ĥ,ą,ä7Ĕ1Ìą(3(/Ì6(1(32.28ä(-7(2'675$1,7
7Ĕ61,&Ì.528æ(.80<-7(-(958&(3202&Ì7(3/e92'<
$6$321É7861$+$22'675$1Ĕ1Ì7Ĕ61,&Ì+2.528æ.8
%<02+/$9e67.759$/e0832ä.2=(1Ìą(3(/Ì$
3527e.É1Ì7(.87,1<32.8'6(7Ĕ61Ĕ1Ì892/1Ì1(%2
32ä.2'Ì.217$.78-7(352'(-&(
7<7232.<1<86&+29(-7(
328=(.'20É&Ì08328æ,7Ì
3/112
ÿ,ä7ć1Ì1875,%8//(7
1LNGRQHPiUiGĆLåWĕQtDOHV1875,%8//(7WRMGHVQDGQRDU\FKOH
832=251Ĕ1Ì
3Ĥ('.$æ'ë0ą,ä7Ĕ1Ì01(%26(67$929É1Ì03ĤÌ6752-
9<32-7(=(/(.75,&.e6Ì7Ĕ
ÿLåWĈQt1875,%8//(7
ąLåWĕQt1875,%8//(7MHYHOPLMHGQRGXFKp6WDĆtMHQXPtVWLWĆiVWLSĥtVWURMH
NURPĕWĕODSĥtVWURMHDYtĆNDVĆHSHOHPLGRKRUQtSĥLKUiGN\P\ĆN\QiGREtQHER
MHXPøWYWHSOpYRGĕVHVDSRQiWHP
832=251Ĕ1Ì
ą(3(/(1(80ë9(-7(90<ą&(1É'2%Ì1É'2%<
1875,%8//(76('$-Ì0ë790<ą&(1É'2%Ì9+251Ì
3Ĥ,+5É'&(3Ĥ,%Ĕæ1e00<&Ì0&<./87<721É'2%<%<6(
1(0Ĕ/<9<9$Ĥ29$79+25.e92'Ĕ35272æ(7$%<02+/$
='()25029$73/$67
ÿ,ä7ć1Ì=$6&+/eä3Ì1<
3RNXGYiPMtGOR]DVFKQHYSĥtVWURMLQLFVHQHGĕMH6WDĆtMHQQDSOQLWQiGREXDVL
GR2/3WHSORXYRGRXVHVDSRQiWHPDQDVDGLWĆHSHO3RWpXPtVWĕWHQiGREX
VSĥLåURXERYDQøPLĆHSHOHPLQDWĕORSĥtVWURMHDPL[XMWHDVL2030VHNXQG7R
XYROQt]DVFKORXåStQX3DNXçMHQVWDĆtSĥtVWURMY\SQRXWY\SRMLW]HVtWĕDGRĆLVWLW
UXĆQĕ
ÿ,ä7ć1Ì7ć/$(;75$.7258
7ĕORSĥtVWURMHVHYĕWåLQRXSĥLSRXçtYiQtSĥtOLåQH]DåSLQt2YåHPSRNXGQHMVRX
ĆHSHOHVWĕVQĕQtPSHYQĕSĥLåURXERYiQ\PĭçHWHNXWLQDSURVDNRYDWD
]DåSLQLWWĕORSĥtVWURMHDWODĆtWND
4/112
1iYRGNĆLåWĕQt
9çG\QHMSUYHY\SRMWHWĕORSĥtVWURMH]HOHNWULFNpVtWĕ
7ĕORSĥtVWURMHRWĥHWHYOKNøPKDGĥtNHP
‡ 1,.'<1(3212Ĥ8-7(7Ĕ/23ĤÌ6752-('292'<$1('É9(-7(
+2'20<ą.<1É'2%Ì
‡ 3ĥLNUiMHQtDPL[RYiQtVHUXNDPDDQLNXFK\ğVNøPQiĆLQtPQHGRWøNHMWH
SRK\EOLYøFKĆHSHOt
7<7232.<1<86&+29(-7(
328=(.'20É&Ì08328æ,7Ì
5/112
2%6$+
ÔYRG -VHP]GUDYø/i" =SRPDOHQtSURFHVXVWiUQXWt =tVNHMWHPD[LPXP]MtGOD 9ø]QDPNRQ]XPDFHMtGODVH[WUDKRYDQøPLçLYLQDPL1
6tOD1875,%8//(7 1
9ø]QDP]GUDYtDYLWDOLW\ &HVWDNOHSåtYLWDOLWĕ
&RYåHFKQRGRVWDQHWH
&RMHWR683(59ëæ,91ë.2.7(-/2
-DNWRIXQJXMH 2
([WUDKRYiQt 2
0OHWt 2
7HFKQLND6KDNHUX 2
7HFKQLNDSRNOHSiQt 2
&HVWDNOHSåtYLWDOLWĕDGHOåtPXçLYRWX
683(59ëæ,91ë.2.7(-/
-tGOHPNFHONRYpSRKRGĕ
=DĆtQiPH
äSDWQiVHPtQND2
-DNSĥLSUDYLW683(59ëæ,91ë.2.7(-/3
7LS\QD683(59ëæ,91e.2.7(-/<
)i]H1 )i]H2 )i]H3 6/112
683(59ëæ,91e.2.7(-/<SURçLYRW
-H]WHUR]XPQĕSRFHOøGHQ
ä(67,7ë'(11Ì3/É13520Ĕ1<1875,%8//(7
3ĕWNOtĆĭN~VSĕFKX
5DG\DGRSRUXĆHQtSUR~VSĕåQøSURJUDP
3URJUDP 1 Ii]H 2 Ii]H 3 Ii]H 6XSHUYøçLYQpNRNWHMO\SUR1Ii]L
6XSHUYøçLYQpNRNWHMO\SUR2Ii]L
6XSHUYøçLYQpNRNWHMO\SUR3Ii]L
=GUDYpVYDĆLQ\
6XSHUSROpYN\ :HOOQHVVZUDS\DVHQGYLĆH
2ELOQLQRYpSĥtORK\
=GUDYpSĥtORKRYpVDOiW\
9HĆHĥH
1 Ii]HMtGHOQtĆHN
2 Ii]HMtGHOQtĆHN
3 Ii]HMtGHOQtĆHN
7/112
)+(#,&-$'&('•a
2QHPRFQďQtVUGFH]DELMH
PLOLRQĪ
OLGtNDçGìURN
9URFH]HPĢHOR
PLOLRQĪ
OLGtQD
UDNRYLQX
GRURNX
VLUDNRYLQDY\çiGi
PLOLRQĪ
YURFHEXGH
çLYRWĪURĀQď
PLOLRQĪOLGt
WUSďWFXNURYNRX
2/3$PHULĀDQĪVWDUåtFKOHWMVRX
OBÉZNÍ
%BUBSFMFWBOUOÓQSP64"
8/112
*5$78/8-(0(9É0.(
=0ć1ć3ĕÌ67838.æ,9278
*UDWXOXMHPHYiPNHNRXSL1875,%8//(7SUYQtKRH[WUDNWRUXQDVYĕWĕ
0iPHUDGRVWçHMVWHVHY\GDOLQDFHVWXNH]GUDYtDYLWDOLWĕ
1HçGRĆWHWHWHQWRRGVWDYHFSRVWLKQHQDFHOpPVYĕWĕ4OLGLLQIDUNWDGDOåt4
PUWYLFHQHERVHOKiQtVUGFH,QIDUNWMHQHMYĕWåtP]DELMiNHPYUR]YLQXWøFK
]HPtFK1DUDNRYLQXXPtUiURĆQĕ76PLOLRQĭOLGt'RURNX2030VHDOHWRWR
ĆtVOR]ĥHMPĕ]YøåtDçQD11PLOLRQĭ
171PLOLRQĭPOLGtQDFHOpPVYĕWĕMHNDçGRURĆQĕGLDJQRVWLNRYDQiFXNURYNDD
SĥHV500PLOLRQĭOLGtMHNOLQLFN\REp]QtFK3RGOH6YĕWRYp]GUDYRWQLFNp
RUJDQL]DFHMHREH]LWDQHMĆDVWĕMåtSĥtĆLQDVPUWLNWHUpO]HSĥHGHMtW3RGOH
YĕGHFNøFKQi]RUĭMHREH]LWDWDNpQHMYiçQĕMåtP]GUDYRWQtPSUREOpPHP21
VWROHWt
3URĆMVPHWDNQHPRFQt"9HONiYĕWåLQDWĕFKWRQHPRFtDREWtçtPiVRXYLVORVWV
WDN]YDQRXÅ]iSDGQtVWUDYRX´7DVHVNOiGiSĥHGHYåtP]SĥHGHP]SUDFRYDQøFK
SRWUDYLQVY\VRNøPREVDKHPFXNUXDVROLDWUStQHGRVWDWNHPRYRFHD]HOHQLQ\
9\SDGiWRMDNRE\FKRP]DSRPQĕOLFRMVPHVHXĆLOLXçQD]iNODGQtåNROH
² çHMVPHWYRĥHQLEXğNDPLDW\WREXğN\SRWĥHEXMt3]iNODGQtYĕFLNSĥHçLWt²
SRWUDYXYRGXDY]GXFK$P\PiPHYHONøYOLYQDWRMHVWOLMVRXQDåHEXğN\
]GUDYpQHERQH3ĥLNDçGpPMtGOHDSLWtPiPHQDYøEĕU3RNXGVLY\EHUHPH
]SUDFRYDQpSRWUDYLQ\SOQpWXNXDFXNUX]Y\åXMHPHWDNUL]LNRUDNRYLQ\
FXNURYN\DVUGHĆQtFKRQHPRFQĕQt
9\MVWHVLDOHQDåWĕVWtY\EUDOL1875,%8//(7DWHG\L]GUDYøçLYRWQtVW\O
DSRWUDYLQ\SOQpçLYLQ5R]KRGOLMVWHVHFtWLWVNYĕOH*UDWXOXMHPHYiPNWRPXWR
Yø]QDPQpPXUR]KRGQXWt61875,%8//(7]ĭVWDQHWHYçG\QDVSUiYQpFHVWĕ
NOHSåtPX]GUDYt
Poznámka:,QIRUPDFHDSRVWXS\]WpWRXçLYDWHOVNpSĥtUXĆN\QHQDKUD]XMt
SUDYLGHOQRXOpNDĥVNRXSpĆL9åHFKQ\RWi]N\WøNDMtFtVH]GUDYtDVWUDY\
NRQ]XOWXMWHVHVYøPOpNDĥHP
9/112
-6(0='5$9ëÉ"
1HMOHSåt]SĭVREMDNSRVRXGLWDNWXiOQtDEXGRXFt]GUDYtMHSRORçLWVL
RWi]N\-DNVHSUiYĕWHĐFtWtP"-HPLGREĥH"0iPGRVWDWHNHQHUJLH"
3ĥLSDGiPVLDWUDNWLYQt"1HPiPEROHVWL"-VHPSĥLSUDYHQø/iGREøW
VYĕW"
1HERVHFtWtPWOXVWø/i"8QDYHQø/iDEH]HQHUJLH"
1DVWDOĆDVEøWNVREĕXSĥtPQø'RGiYiPLMtGORVtOXDREUDQXSURWL
QHPRFtP"1HERPĕQDRSDNRVODEXMH"
-60(72&2-Ì0(-DFtEXGHPH]tWUD"$FRYH40600OHWHFK"
-DNVHGQHVFtWtP"
__________________________________
__________________________________
__________________________________
__________________________________
__________________________________
1RYpFtOH
__________________________________
__________________________________
__________________________________
__________________________________
Date: ___/___/_____
'DWXP
10/112
NUTRIBULLET není jako
ostatní mixéry. Je to
H[WUDNWRU, NWHUìGRNiçH
]SRWUDYLQ]tVNDWçLYLQ\
11/112
www.nutribullet.com
=320$/(1Ì352&(68
67É5187Ì
.DçGiEXğNDYQDåHPWĕOHPiXUĆLWøçLYRWQtF\NOXV2GXPĥHOpEXğN\
MVRXQHXVWiOHQDKUD]RYDQpQRYøPL9QiVOHGXMtFtFK7OHWHFKVH
Y\PĕQtYåHFKQ\EXğN\YHYDåHPWĕOH7HQWRIDVFLQXMtFtSURFHVMHDOH
YHOPLVORçLWøDWDNpWURåNXQHGRNRQDOø1RYpEXğN\ĆDVWRREVDKXMt
PDOpFK\ELĆN\35272VWiUQHPH&K\ELĆN\YQDåLFKEXğNiFK]Y\åXMt
PQRçVWYtYROQøFKUDGLNiOĭNWHUpNDçGRGHQQĕSĥLMPHPH.RXĥHQtSLWt
DONRKROXDNRQ]XPDFHQH]GUDYpKRMtGODXU\FKOXMHSURFHVVWiUQXWt
DQDKUiYiQHPRFtP
2YRFH]HOHQLQDDGDOåtURVWOLQQpSRWUDYLQ\SĥLUR]HQĕREVDKXMt
VORXĆHQLQ\]QiPpMDNRDQWLR[LGDQW\7\QHXWUDOL]XMtåNRGOLYpYROQp
UDGLNiO\DFKUiQtQDåHEXğN\SĥHGGDOåtPSRåNR]HQtP
6SUiYQøSURFHV]DçtYiQtDYVWĥHEiYiQtSURVSĕåQøFKOiWHN]SRPDOXMH
VWiUQXWtWDNçHVLPĭçHPHY\FKXWQDWNDçGøGHQQDSOQR
'tN\1875,%8//(7PĭçHPHGRSĥiWNDçGpVYpEXğFHWRQHMOHSåt²MtGOR
SOQpçLYLQNWHUpO]HVQDGQRYVWĥHEDW3URVSĕMHPHWDNVREĕDVYpPX
]GUDYt1875,%8//(7GRNiçH]tVNDW]SRWUDYLQPD[LPXPFHQQøFK
DQWLR[LGDQWĭRPHJD3PDVWQøFKN\VHOLQSURVStYDMtFtFKNORXEĭP
DSURWHLQĭSRVLOXMtFtFKVYDO\$YåHFKQ\W\WROiWN\YiP]DMLVWtYWp
QHMOpSHYVWĥHEDWHOQpIRUPĕ
8çLMWHVLçLYRWQD0$;,080WDNçH]tVNiWH0$;,080]HVYpKRMtGOD
12/112
&RE\VWHUDGåLVQĈGOL"
åiONX
UR]PL[RYDQpKROQĈQpKRVHPtQND
YVXSHUYìçLYQpPNRNWHMOXQHER
QHER
60
åiONĠEURNROLFH
100
SOiWNĠFHOR]UQQpKRFKOHED
13/112
=Ì6.(-7(0$;,080=-Ì'/$
3ĥHGVWDYWHVLçHMtWHĆHUYHQpKUR]QRYpYtQR3iUNXOLĆHN]EDYtWH
VWRSHNRP\MHWHMHGiWHGRSXV\DY\SOLYQHWHMDGpUND3RNXGE\VWH
VWHMQpKUR]Q\GDOLGRRGåīDYğRYDĆH]EDYLOLE\VWHMHMDGpUHNLVOXSHN
.ODVLFNøPL[pUE\]DVHQHXPĕOMDGpUNDUR]PĕOQLW9ĕGĕOLMVWHDOHçH
SĥHV100YĕGHFNøFKVWXGLtSURNi]DORçHW\QHSURVSĕåQĕMåtOiWN\VH
YKUR]QRYpPYtQĕQDFKi]HMtSUiYĕYHVWRSNiFKVOXSFHDMDGpUNiFK"
-HWRWDN-HGQ\]QHM~ĆLQQĕMåtFKDQWLR[LGDQWĭNWHUpQiVFKUiQt
SURWLQHPRFtPVHMPHQXMtSRO\IHQRO\)ODYRQRLG\IHQRORYpN\VHOLQ\
DUHVYHUDWROWHG\W\QHMSURVSĕåQĕMåtSRO\IHQRO\YKUR]QRYpPYtQĕ²
MVRXYQHMY\ååtPtĥHREVDçHQpSUiYĕYĆiVWHFKNWHUpEĕçQĕNRQĆt
YRGSDGNRYpPNRåL7HĐDOHQDVWDOĆDVDE\VWHSĥHVWDOLW\WRFHQQp
çLYLQ\Y\KD]RYDW1875,%8//(7YiPXPRçQt]XçLWNRYDWGĭOHçLWp
çLYLQ\NHNWHUøPE\VWHVHMLQDNQHGRVWDOL
$E\FKRPSĥLMDOLVWHMQpPQRçVWYtSURWLUDNRYLQQøFKHQ]\PĭMDNR
QDOH]QHPHY1/åiONXUR]PL[RYDQpKROQĕQpKRVHPtQNDPXVHOL
E\FKRPVQtVWDVL60åiONĭĆHUVWYpEURNROLFHQHER100SOiWNĭ
FHOR]UQQpKRFKOHED9\VLWHĐPĭçHWHEĕKHPFKYLON\SĥLSUDYLW~çDVQø
QXWULĆQtNRNWHMONDPNURPĕOQĕQpKRVHPtQNDSĥLGiWHQDSĥtNODGOHVQt
RYRFH
9H[WUDNWRUX1875,%8//(7MVRXVXURYLQ\UR]PĕOQĕQ\GR
VNXSHQVWYtNWHUpMHQHMOpSHVWUDYLWHOQpDYVWĥHEDWHOQp
14/112
9ë=1$0.21=80$&(-Ì'/$
6(;75$+29$1ë0,æ,9,1$0,
9ĕWåLQD]QiVVLQHGRNiçHYKHNWLFNpPGHQQtPUHçLPXXGĕODWĆDVQDSRPDORX
NRQ]XPDFL]GUDYpKRMtGOD7HQWRWUHQG]DWĕçXMHQDåHWUiYHQtNWHUpVHVQDçt
Y\SRĥiGDWVHåSDWQĕSRçYøNDQøPMtGOHPEH]çLYLQ3RVWXSQĕWDNpRVODEXMtQDåH
HQ]\P\NWHUpVSROXVçDOXGNHP]GHFLPRYDQøPYĕNHPQHGRNiçRX]XçLWNRYDW
çLYLQ\]HVWUDY\$SRNXGVHQDåHPXWĕOXQHGRVWiYDMtçLYLQ\WDNGHQRGHGQH
VOiEQHPHDVWiYiPHVHQiFK\OQĕMåtNUĭ]QøPLFKURQLFNøPQHPRFtP
'RSOğN\VWUDY\PRKRXWHQWRGHÀFLWçLYLQĆiVWHĆQĕXSUDYLWDOHQDåHWĕORQHQt
VWDYĕQpQDGORXKRGREpSĥLMtPiQtçLYLQ]QĕĆHKRMLQpKRQHç]MtGOD'RSOğN\
VWUDY\PRKRXEøWWHG\GRXUĆLWpPtU\SURVSĕåQpDOHUR]KRGQĕQHQDKUD]XMt
SHVWURXD]GUDYRXVWUDYX1DåHWĕORMHWRWLçX]SĭVREHQpNSĥLMtPiQtçLYLQ
]SĥHGHPQH]SUDFRYDQpKRMtGOD
1HYåHFKQR]GUDYpMtGORDOHGRNiçHQiåWUiYLFtV\VWpP]SUDFRYDWąDVWRVH
WRWLçYĭEHFQHGRVWDQHNHYåHPYLWDPtQĭPPLQHUiOĭPDI\WRQXWULHQWĭP
NWHUpMtGORREVDKXMH1DåWĕVWtMHWX1875,%8//(7NWHUøGRNiçHW\WRçLYLQ\
H[WUDKRYDW7HQWRH[WUDNWRUGRNiçHUR]PĕOQLWRYRFHD]HOHQLQXQDWXQHMOpSH
YVWĥHEDWHOQRXIRUPX3ĥLWRP]iURYHğXYROğXMHFHQQpçLYLQ\NWHUpE\
QRUPiOQĕ]ĭVWDO\YQHUR]NRXVDQøFKVRXVWHFK.RQ]XPDFHNRNWHMOĭ]RYRFH
]HOHQLQ\VHPtQHNDRĥHFKĭ]DMLVWtVSUiYQøSĥtVXQDYVWĥHEiYiQtçLYLQNWHUpQiV
RFKUiQtSĥHGQHPRFHPL
Poznámka: ,QIRUPDFHDSRVWXS\]WpWRXçLYDWHOVNpSĥtUXĆN\QHQDKUD]XMt
SUDYLGHOQRXOpNDĥVNRXSpĆL9åHFKQ\RWi]N\WøNDMtFtVH]GUDYtDVWUDY\
NRQ]XOWXMWHVHVYøPOpNDĥHP
15/112
6Ì/$1875,%8//(7
1875,%8//(7MH~SOQĕMLQøQHçRVWDWQtPL[pU\QDWUKX0i600:
PRWRUQRYøW\SH[WUDNĆQtFKĆHSHOtDVFKRSQRVWGRNRQDOHUR]PĕOQLW
GXçLQXVOXSN\MDGpUNDDVWRSN\'tN\WRPXVLPĭçHPHSĥLSUDYLW
NRNWHMOSOQøçLYLQ0L[RYiQtDRGåīDYğRYiQtSRPRFtMLQøFKSĥtVWURMĭVH
QHY\URYQiH[WUDNĆQtVtOH1875,%8//(7
'tN\1875,%8//(7]XçLWNXMHWHVSRXVWX]LQNXDKRĥĆtNX]MDGpUHN
PHORXQXRPHJD3PDVWQpN\VHOLQ\DHQ]\P\]H]UQtĆHNRVWUXçLQD
FHQQpDQWLR[LGDQW\]NRåīiOXEURNROLFH7\WROiWN\VHYVWĥHEDMt
SRPRFtNUHYQtKRREĕKX3ĥLSUDYWHVHQDSĥtYDOçLYLQ
16/112
9ë=1$0='5$9Ì$9,7$/,7<
=tVNHMWHGDOåt]GUDYpURN\
Å7RKRNGRQHMt]GUDYĕQH]DFKUiQtDQLGRNWRU7HQNGRMt]GUDYĕ
GRNWRUDQHSRWĥHEXMH´9LFWRU*5RFLQH
.RQ]XPDFHMtGODSOQpKRH[WUDKRYDQøFKçLYLQYiPPĭçH]DMLVWLWURN\
]GUDYpKRDDNWLYQtKRçLYRWDQDYtF.GRE\WRQHFKWĕO"3ĥLGRGUçRYiQt
]GUDYpKRçLYRWQtKRVW\OXDGRSOğRYiQtGĭOHçLWøFKçLYLQPĭçHWHRĆHNiYDW
W\WR]PĕQ\
‡ Y\URYQDQpYQLWĥQtS+
‡ NUiVQpYODV\SRNRçNXDQHKW\
‡ VQtçHQpUL]LNRFKURQLFNøFKQHPRFt
‡ OHSåtQiODGX
‡ YtFHHQHUJLH
‡ VLOQĕMåtOLELGRDOHSåtVH[XiOQtYøNRQ\
‡ OHSåtWUiYHQtEH]]iFS\QDGøPiQt
‡ OHSåtVSiQHN
‡ QLçåtKODGLQXFKROHVWHUROX
‡ QLçåtNUHYQtWODN
‡ QLçåtKODGLQXFXNUXYNUYL
‡ ~E\WHNYiK\
‡ PODGåtY]KOHGMDVQRXSOHīVY\KOD]HQøPLYUiVNDPLD]YøåHQRX
HODVWLFLWRX
17/112
1Y\VRNiQiGRED
1VSHFLiOQtH[WUDNĆQt
ĆHSHOH
1WĕOR
H[WUDNWRUX
VYøNRQQøP
PRWRUHP
1ĆHSHOHQDPOHWt
18/112
&(67$./(3äÌ9,7$/,7ć
&RYåHFKQRGRVWDQHWH
6DGD1875,%8//(7REVDKXMH
1PHQåtQiGRED
VREMtPNRX
QDSLWtDGUçDGOHP
1PHQåtQiGRED
VXFKHP
DREMtPNRXQDSLWt
2YtĆNDSURXFKRYiQt
ĆHUVWYpKRNRNWHMOX
19/112
– MAX –
1DOLMWHYRGXNH]QDĆFH0$;
3ĥLGHMWHÅY]SUXKX´RĥtåN\ĆL
VHPtQND
50RYRFHNROLNFKFHWH
GUXKĭ
50OLVWRYp]HOHQLQ\2åiON\
QD1SRUFL
683(59ëæ,91ë.2.7(-/
20/112
&(67$./(3äÌ9,7$/,7ć
&RMHWR683(59ëæ,91ë.2.7(-/"
6XSHUYøçLYQøNRNWHMOMHSOQøH[WUDKRYDQøFKçLYLQ]GREĥHVWUDYLWHOQpKRRYRFH
D]HOHQLQ\9åHFKQ\UHFHSW\QDWHQWRNRNWHMOVHĥtGt]iNODGQtPSULQFLSHP
OLVWRYp]HOHQLQ\RYRFHDóVHPtQHNQHERRĥHFKĭMDNRY]SUXKD
3RWpSĥLGiWHYRGXDE\E\O\VXURYLQ\SRQRĥHQpQDVDGtWHĆHSHOHD
PL[XMHWH
6XSHUYøçLYQøNRNWHMOMHLGHiOQtVQtGDQĕDOHPĭçHWHVLKRGRSĥiWNG\NROLY
EĕKHPGQH8UĆLWĕYiVSĥHNYDStMDN]GUDYtDSOQtHQHUJLHVHSRWRPWR
SĥtYDOXçLYLQEXGHWHFtWLW
=DĆQĕWHVMHGQtP6XSHUYøçLYQøPNRNWHMOHPGHQQĕYL]UHFHSW\YWpWR
SĥtUXĆFH-DNPLOHSRFtWtWHSUYQtYøVOHGN\GLHW\]DORçHQpQDQXWULĆQĕ
H[WUDKRYDQpPMtGOHY\]NRXåHMWHGYD6XSHUYøçLYQpNRNWHMO\GHQQĕ
1HVSRXWDQiHQHUJLHNOLGQøVSiQHNDSV\FKLFNiSRKRGD²WRYåHYiVĆHNiY
QRYpPQXWULĆQtPUHçLPXątPYtFHY]SUXK\WĕOXGRGiWHWtPOpSHVHEXGHWH
FtWLW
Poznámka:,QIRUPDFHDSRVWXS\]WpWRXçLYDWHOVNpSĥtUXĆN\QHQDKUD]XMt
SUDYLGHOQRXOpNDĥVNRXSpĆL9åHFKQ\RWi]N\WøNDMtFtVH]GUDYtDVWUDY\
NRQ]XOWXMWHVHVYøPOpNDĥHP
21/112
-$.72)81*8-(
([WUDKRYiQt
1
'HMWHVXURYLQ\GRY\ååtQHERQLçåt
QiGRE\
2
3ĥLåURXEXMWHYtĆNR
VĆHSHOHPL
3
8]DYĥHQRXQiGREXXPtVWĕWHQD
WĕORSĥtVWURMH=DWODĆWHSRRWRĆWH
D]DFYDNQĕWH
4
0ĭçHWHVOHGRYDWSURFHV
H[WUDNFH.RQWUROXMWHNRQ]LVWHQFL
NRNWHMOX6XSHUYøçLYQøNRNWHMOMH
KRWRYøYHFKYtOLNG\MHKODGNøD
NUpPRYø
22/112
-$.72)81*8-(
0OHWt
ąHSHOHQDPOHWtVORXçtNUR]HPOHWtVXFKøFKVXURYLQQDSUiåHN,GHiOQĕVHKRGt
NQDPOHWtRYHVQøFKYORĆHNRĥtåNĭDVHPtQHN
1
'HMWHVXURYLQ\GRPHQåtQiGRE\
2
3ĥLåURXEXMWHYtĆNR
VĆHSHOHPLQDPOHWt
3
8]DYĥHQRXQiGREXXPtVWĕWHQD
WĕORSĥtVWURMH=DWODĆWHSRRWRĆWH
D]DFYDNQĕWH
4
1HFKWHVXURYLQ\POtWWDNGORXKR
GRNXGQHGRViKQHWHSRçDGRYDQp
NRQ]LVWHQFH
23/112
HOW IT WORKS
7HFKQLNDVKDNHUX
3RNXGSĥHSOQtWHQiGREXVXURYLQDPLQHERQHSRXçLMHWHGRVWDWHNYRG\
PĭçHWH]tVNDWSĥtOLåKXVWRXVPĕV6XURYLQ\YKRUQtĆiVWLQiGRE\VHSDN
QHGRVWDQRXNĆHSHOtPYHVSRGQtĆiVWLQiGRE\9WRPSĥtSDGĕSRXçLMWH
WHFKQLNX]DWĥHVHQt
1
9\MPĕWHQiGREXVSĥLåURXERYDQøPYtĆNHP
DĆHSHOHPL]WĕODSĥtVWURMH
2
1iGRERX]DWĥHVWHMDNRE\WRE\O
NRNWHMORYøVKDNHU3RWpMLYUDīWH
D]DFYDNQĕWHQDWĕORSĥtVWURMH
24/112
HOW IT WORKS
-$.72)81*8-(
7HFKQLNDSRNOHSiQt
3RNXGVHQĕNWHUpVXURYLQ\GUçtXVWĕQQiGRE\DĥiGQĕVHQHGRVWiYDMt
NĆHSHOtPSRXçLMWHWHFKQLNXSRNOHSiQt
9\MPĕWHQiGREXVSĥLåURXERYDQøPYtĆNHP
DĆHSHOHPL]WĕODSĥtVWURMH3RVWDYWHMLQDOLQNX
DSRNOHSHMWHQDQL7DNVHVXURYLQ\GRVWDQRX
GROĭNĆHSHOtP
2
1iGREXYUDīWHD]DFYDNQĕWHQDWĕORSĥtVWURMH
0ĭçHWHSRNUDĆRYDWYPL[RYiQt
1
25/112
&(67$./(3äÌ9,7$/,7ć
$'(/äÌ08æ,9278
683(59ëæ,91ë.2.7(-/+27292,+1('
3ĥtSUDYDWpWRYLWDPtQRYpERPE\WUYiMHQQĕNROLNVHNXQG
6XSHUYøçLYQpNRNWHMO\FKXWQDMtVNYĕOHMHGQRGXåHVHSĥLSUDYXMtDH[WUDNWRU
VHVQDGQRĆLVWt
1DKUDĂWHWĈçNiMtGOD
9ĕWåLQĕOLGtVWDĆtMHGHQVXSHUYøçLYQøNRNWHMONVQtGDQL3RNXGDOHMHåWĕ
GRSROHGQHSRFtWtWHKODGGHMWHVLNOLGQĕPHQåt]GUDYRXVYDĆLQNX0ĭçHWR
EøWWĥHEDPVOLW\ĆLQNDEH]SROHY\YHMFHQDWYUGRQHERMRJXUW9tFH
LQVSLUDFHNYDĥHQtD]DSRMHQtVXSHUYøçLYQpKRNRNWHMOXGRMtGHOQtĆNX
QDOH]QHWHYä(67,7ë'(11Ì03/É183520Ĕ1<GiOHYWpWRSĥtUXĆFH
2EMHYWHUR]GtO
510SRUFtH[WUDKRYDQpKRĆHUVWYpKRRYRFHQHER]HOHQLQ\GHQQĕEXGHPtW
Ôæ$61ëYOLYQDYiåY]KOHGDçLYRWQtSRFLW1HMGĥtYHVLYåLPQHWHQHXYĕĥLWHOQpKR
SĥtOLYXHQHUJLH3RWpGRViKQHWHSRFLWXFHONRYpSRKRG\FRç]QDPHQiPpQĕ
EROHVWtOHSåtVSiQHNVLOQĕMåtLPXQLWQtV\VWpPDWDNpOHSåtDY\URYQDQRXQiODGX
7HQWRSRFLWVHPĭçHREMHYLWYHOPLEU]\DSRNXGVLEXGHWHLQDGiOH
Y\FKXWQiYDW6XSHUYøçLYQpNRNWHMO\PĭçHMHåWĕ]HVtOLW
26/112
&(67$./(3äÌ9,7$/,7ć
$'(/äÌ08æ,9278
1HQtQLFOHSåtKRQHçVHFtWLWGREĖH
3ĥLGRGUçRYiQtSURJUDPXVXSHUYøçLYQøFKNRNWHMOĭVHYiPPĭçH]DĆtW
]OHSåRYDWSOHīDY\VHEXGHWHEXGLWGRNRQDOHRGSRĆDWt0RçQi
]KXEQHWHQĕNROLNNLORJUDPĭDNOHVQHYiåWODNDKODGLQDFKROHVWHUROX
8UĆLWĕVHYåDNEXGHWHFtWLWOpSHQHçGRVXG7RWRQHQtGLHWQtSURJUDP
NWHUøE\VWHPXVHOLSURWUSĕWDOHYROEDQRYpKRçLYRWQtKRVW\OX
XNWHUpKRXçEXGHWHFKWtW]ĭVWDW6XSHUYøçLYQpNRNWHMO\VHVWDQRX
SHYQRXVRXĆiVWtYDåHKRMtGHOQtĆNXątPYtFHMLFKY\SLMHWHWtPOpSHVH
EXGHWHFtWLW$QHQtQLFOHSåtKRQHçVHFtWLWGREĥH
3URGOXçWHVYĠMçLYRWRSiUOHW
1XWULĆQĕH[WUDKRYDQpMtGORYiPPĭçH]DMLVWLWQĕNROLNOHWQDYtF'RNiçH
WRWLçRGYUiWLWĥDGXFKURQLFNøFKQHPRFt²QDSĥVUGHĆQtRQHPRFQĕQt
UDNRYLQXFXNURYNXDSUREOpP\VLPXQLWRX
.GRE\FKWĕOVWUiYLWQHMOHSåtOpWDVYpKRçLYRWD
YRUGLQDFLOpNDĥHNG\çE\VLPRKOPtVWRWRKRKUiWVH
VYøPLYQRXĆDW\"6WDUpUĆHQtĥtNiçHMHGQRMDEONR
GHQQĕMHWHQQHMOHSåtOpNDĥ9\QiVREWHWR5[7[
QHERGRNRQFH[D]tVNiWHVXSHUYøçLYQøNRNWHMO
$VOpNDĥLVHPĭçHWHUR]ORXĆLW
27/112
-tGOHPNFHONRYpSRKRGĈ
7<3-Ì'/$
9<&+871(-7(6, 9<+1Ĕ7(6(
0OpĆQpYøUREN\
1t]NRWXĆQpVøU\QHVOD]HQp
MRJXUW\NR]tPOpNR
Qt]NRWXĆQpSRGPiVOt
PDQGORYpPOpNR
7DYHQøPVøUĭPYåHP
XPĕOHGREDUYRYDQøPVøUĭP
D]PU]OLQĕ
9HMFH
9DĥHQpYHVNRĥiSFHQHER
EH]PD[LPiOQĕ4WøGQĕ
6PDçHQøPDQDNOiGDQøP
YHMFtP
5\E\
9åHFKQ\JULORYDQpQHER
SHĆHQpĆHUVWYpU\E\
VEtOøPPDVHPORVRVD
DNRQ]HUYRYDQpKRWXğiND
YHYODVWQtåīiYĕ
6PDçHQøPU\EiPPRĥVNøP
SORGĭPVROHQøPU\EiP
DNRQ]HUYRYDQøPU\EiP
YROHML
2YRFH
9HåNHUpĆHUVWYpD
QHSĥLVOD]HQpRYRFH
PUDçHQpDVXåHQpRYRFH
.RPSRWRYDQpPXQHER
PUDçHQpPXRYRFL
VSĥLGDQøPFXNUHP
2ELOt
9åHFKQ\FHOR]UQQp
SURGXNW\
9åHPYøURENĭP]EtOp
PRXN\EtOpUøçLEtOøP
WĕVWRYLQiPVXåHQNiP
DLQVWDQWQtPFHUHiOLtP
0DVR
.UĭWtNXĥHFtQHERMHKQĕĆt
PDVREH]NĭçH
+RYĕ]tPXYHSĥRYpPX
PDVXSiUNĭPODQĆPtWX
X]HQLQiPNDFKQĕKXVH
DYQLWĥQRVWHP
2ĥHFK\
9åHFKQ\ĆHUVWYpRĥHFK\
DUDåtG\PD[LPiOQĕMHGQRX
WøGQĕ
9åHPVROHQøPSUDçHQøP
RĥHFKĭPDSRNXGPiWH
DOHUJLLWDNpDUDåtGĭP
2OHMHWXN\
9åHFKQ\ROHMHOLVRYDQp
]DVWXGHQDYĆHWQĕROHMH
]NXNXĥLFHVYĕWOLFH
VH]DPXOQXVyMRYøFK
EREĭVOXQHĆQLFH
DĥHSN\0DUJDUtQ\]ROHMĭ
OLVRYDQøFK]DVWXGHQD
DPDMRQp]XEH]YDMHF
9åHPQDV\FHQøP
WXNĭPK\GURJHQRYDQøP
PDUJDUtQĭPDUDÀQRYDQøP
ROHMĭP
28/112
&(67$./(3äÌ9,7$/,7ć
$'(/äÌ08æ,9278
ÔçDVQpYHGOHMåt~ĀLQN\
-DNPLOH]DĥDGtWHGRVYpKRMtGHOQtĆNXVXSHUYøçLYQpNRNWHMO\]MLVWtWH
çHXçQHPiWHWDNRYRXFKXīQDVODGNpVODQpDWXĆQpMtGOR.G\çVL
YDåHWĕORXYĕGRPtMDNVNYĕOHVHSRQXWULĆQĕH[WUDKRYDQpPMtGOH
FtWtEXGHPtWXçDXWRPDWLFN\FKXīQD]GUDYpMtGOR-HWRVNYĕOp
3ĥLQiåtPHYiPWDEXONXVQi]YHPÅ-tGOHPNFHONRYpSRKRGĕ´DWDNp
XNi]NRYøMtGHOQtĆHNSURRSWLPiOQt]GUDYtDYLWDOLWX
-tGOHPNFHONRYpSRKRGĈ
7<3-Ì'/$
9<&+871(-7(6, 9<+1Ĕ7(6(
.RĥHQt
ąHVQHNFLEXOLYåHFKQ\
E\OLQN\MDEOHĆQøRFHW
VyMRYRXRPiĆNXWDPDUL
SDVWXPLVRDPRĥVNpĥDV\
ąHUQpPXDEtOpPX
SHSĥLVROLDRFWXNURPĕ
MDEOHĆQpKR
3ROpYN\
'RPiFtSROpYN\
OXåWĕQLQRYp]HOHQLQRYp
FLEXORYpDVKQĕGRXUøçt
%LRSROpYN\VQt]NøP
REVDKHPVROL
3ROpYNiPYSOHFKRYFHVH
VROtNRQ]HUYDQW\
DJOXWDPDQHPVRGQøP
9øKRQN\DVHPtQND
9åHFKQ\OHKFHSĥHYDĥHQp
YøKRQN\DV\URYiVHPtQND
9åHPVHPtQNĭPYROHML
QHERVROL
6ODGLGOD
0DOpPQRçVWYtPHGX
MDYRURYpKRVLUXSXVWpYLH
QHERPHODV\
%tOpPXLKQĕGpPXFXNUX
.XNXĥLĆQpPXVLUXSX
DERQERQĭP
=HOHQLQD
9HåNHURXĆHUVWYRXĆL
PUDçHQRX]HOHQLQXEH]
VROLDGDOåtFKSĥtVDG
1DNOiGDQpDPUDçHQp
]HOHQLQĕVHVROtDGDOåtPL
SĥtVDGDPL
Poznámka:,QIRUPDFHDSRVWXS\]WpWRXçLYDWHOVNpSĥtUXĆN\QHQDKUD]XMt
SUDYLGHOQRXOpNDĥVNRXSpĆL9åHFKQ\RWi]N\WøNDMtFtVH]GUDYtDVWUDY\
NRQ]XOWXMWHVHVYøPOpNDĥHP
29/112
3ĥHGSRXçLWÌPXP\MWHYåHFKQ\ĆiVWL
1875,%8//(7NURPĕWĕODSĥtVWURMHYWHSOpYRGĕ
VHVDSRQiWHP
-HWRWDNVQDGQp3ĥHGSRXçLWtPU\FKOHRSOiFKQĕWHQiGRE\DĆHSHOH
YWHSOpYRGĕVHVDSRQiWHP$SRWRPXçPĭçHWH]DĆtWSĥLSUDYRYDW
VYĭMSUYQtVXSHUYøçLYQøNRNWHMO
-HĀDVQDYiåSUYQt
683(59ëæ,91ë.2.7(-/
30/112
=$ÿÌ1É0(
.52.'29<ääÌ1É'2%<'(-7(
/,6729e=(/(1,1<
2åiON\SĥHGVWDYXMtMHGQXGHQQtSRUFLOLVWRYp]HOHQLQ\FRç
YiPSRVWDĆtEĕKHPSUYQtFKQĕNROLNDWøGQĭ0QRçVWYt
RGSRYtGiDVLGYĕPDSOQøPKUVWHP
.52.'29<ääÌ1É'2%<3Ĥ,'(-7(292&(
-HGQDSRUFHRYRFHSĥHGVWDYXMHDVLåiOHN'RNDçGpKR
NRNWHMOXGRSRUXĆXMHPHGiWEDQiQQHERòDYRNiGDSUR
]MHPQĕQtNRNWHMOX3RWpSĥLGHMWHGDOåt3GUXK\RYRFH
QHERLYtF
.52.3Ĥ,'(-7(92'8
'RSRUXĆXMHPHSĥLGDWYRGXDçNH]QDĆFH0$;3RNXG
PiWHUiGLKXVWĕMåtNRQ]LVWHQFLNRNWHMOXSĥLGHMWHPpQĕ
YRG\3RNXGGiYiWHSĥHGQRVWĥLGåtPXNRNWHMOXSĥLGHMWH
YtFYRG\1LNG\DOHQHSĥHNUDĆXMWH]QDĆNX0$;
.52.3Ĥ,'(-7(Å9=358+8´YROLWHOQp
3ĥLGHMWHKUVWRĥtåNĭVHPtQHNQHERNXVWRYQLFHĆtQVNp
7DNVL]DMLVWtWHSĥtMHPFHQQøFKPDVWQøFKN\VHOLQ
7DWRÅY]SUXKD´GRGiYDåHPXNRNWHMOXMHåWĕYtFHçLYLQ
.
.52.1$ä528%8-7(ą(3(/(
=$31Ĕ7($'2%528&+8Ī
1DQiGREXQDåURXEXMWHYtĆNRVĆHSHOHPL
D]DYĥHQRXQiGREXSĥLSHYQĕWHNWĕOXSĥtVWURMH
=DWODĆWHSRRWRĆWHD]DFYDNQĕWH.G\çVH
QiGREDGRVWDQHGRSR]LFH21ĆHSHOHVH
UR]WRĆt0L[XMWHGRNXGQHGRViKQHWHYHOPL
KODGNpNUpPRYpNRQ]LVWHQFH3ĥLSRMWHUXNRMHī
DGREURXFKXī
31/112
– MAX –
1DOLMWHøYRGXNH]QDĆFH0$;
3ĥLGHMWHÅY]SUXKX´
RYRFHNROLNFKFHWH
GUXKĭ
OLVWRYp]HOHQLQ\åiON\
QDSRUFL
683(59ëæ,91ë
.2.7(-/
832=251ć1Ì
ä3$71É6(0Ì1.$1XWULĆQtH[WUDNFHPĭçH
EøW~çDVQĕSĥtQRVQiDOHQHYåHFKQRRYRFHDYåHFKQ\
VOXSN\MVRXYKRGQp=QiVOHGXMtFtFKVHPtQHNDSHFHN
VHSRSR]ĥHQtXYROğXMHN\DQLG3URWRQHSRXçtYHMWH
MDGpUNDMDEOHNSHFN\PHUXQĕNWĥHåQtåYHVWHN
DEURVNYt
32/112
-$.3ĕ,35$9,7
683(59ëæ,91ë.2.7(-/
9<&+871(-7(6,.2.7(-/<'(11ć
VQDGQpNURN\
1
2
3
4
'RQiGRE\GHMWH50OLVWRYp]HOHQLQ\50RYRFH
'ROLMWHYRGXNH]QDĆFH0$;3RNXGFKFHWHSĥLGHMWHOHG
0ĭçHWHSĥLGDW1/QHERRĥtåNĭQHERVHPtQHN
1DåURXEXMWHĆHSHOH1875,%8//(7DPL[XMWHQHçEXGHNRNWHMOKODGNø
/,6729É=(/(1,1$²
9\EHUWHVLOLVWRYRX]HOHQLQX
]QiVOHGXMtFtKRVH]QDPX
DNRPELQXMWH9\VRNRXQiGREX
QDSOğWH]50OLVWRYRX]HOHQLQRX
1DMHGHQNRNWHMOSRWĥHEXMHWH
FFD2SOQpKUVWL
292&(²
MDEOND
9\EHUWHVLOLERYROQø
SRĆHWGUXKĭRYRFH7R
E\PĕORWYRĥLW50
VXSHUYøçLYQpKR
NRNWHMOX
DYRNiGR
EDQiQ
RVWUXçLQ\
ERUĭYN\
PHORXQ
FDQWDORXSH
EUXVLQN\
ItN\
9=358+$ó
1É'2%<1iVOHGXMtFt
VXURYLQ\MVRX
GĭOHçLWRXVRXĆiVWt
VXSHUYøçLYQpKR
NRNWHMOX2EVDKXMt
YOiNQLQXDĥDGX
FHQQøFKçLYLQ'R
NDçGpKRNRNWHMOX
PĭçHWHSĥLGDW1/Dç
1/4QiGRE\
2ĥHFK\
NDGHĥDYi
NDSXVWD
PDQJROG
NDSXVWD
ĥtPVNøVDOiW
åSHQiW
PODGiNDSXVWD
EtOpKUR]QRYp
YtQR
JXDYH
FXNURYø
PHORXQ
NLZL
PDQJR
QHNWDULQN\
EURVNYH
KUXåN\
DQDQDV
åYHVWN\
PDOLQ\
ĆHUYHQp
KUR]QRYpYtQR
SRPHUDQĆH
MDKRG\
SDSiMD
PHORXQ
6HPtQND
PDQGOH
VHPtQNRFKLDåDOYĕMKLVSiQVNi
NHåX
OQĕQpVHPtQNR
9ODåVNp
RĥHFK\
NRQRSQpVHPtQNR
6XSHUY]SUXKD
SORG\
NXVWRYQLFH
ĆtQVNpJRML
GøğRYpVHPtQNR
VH]DPRYpVHPtQNR
VOXQHĆQLFRYpVHPtQNR
SORG\DFDt
33/112
7,3<1$683(59ëæ,91e
.2.7(-/<
3RNXGMVWHGRVXGQHE\OL]Y\NOtNRQ]XPRYDWKRGQĕRYRFHD]HOHQLQ\
]DĆtQHMWHSR]YROQD9H]PĕWHKUVWOLVWRYp]HOHQLQ\DSĥLGHMWHVWHMQp
PQRçVWYtRYRFH=DĆQĕWHVMHGQtPVXSHUYøçLYQøPNRNWHMOHPGHQQĕ
0RçQiVHEXGHWH]SRĆiWNXWURFKXQDGøPDWDOHSRSiUGQHFKVL
YDåHWĕOR]Y\NQHQDY\ååtSĥtMHPYOiNQLQ\1HERMWHVHSĥHMGHWR
3RNXGFKFHWHGRViKQRXWQHMOHSåtFKPRçQøFKYøVOHGNĭ]DĆQĕWH
VHVXSHUYøçLYQøPNRNWHMOHPPtVWRVQtGDQĕ3RVWXSQĕSĥLGHMWHMHåWĕ
MHGHQNRNWHMORGSROHGQH6XSHUYøçLYQøNRNWHMOVHYøERUQĕKRGtPtVWR
GH]HUWX8VSRNRMtYDåLWRXKXSRVODGNpPDQDYtFYiPGRGiçLYLQ\
Poznámka:3RNXGXçtYiWHOpN\SĥHGHYåtPQDVQtçHQtKODGLQ\
FKROHVWHUROXNUHYQtKRWODNXQDĥHGĕQtNUYHVHGDWLYDQHER
DQWLGHSUHVLYDSURVtPNRQ]XOWXMWHNRQ]XPDFLVXSHUYøçLYQøFK
NRNWHMOĭVHVYøPOpNDĥHP
832=251ć1Ì
32.8'8æÌ9É7(/e.<3Ĥ('(9äÌ01$61Ìæ(1Ì+/$',1<
&+2/(67(52/8.5(91Ì+27/$.81$Ĥ('Ĕ1Ì.59(6('$7,9$
1(%2$17,'(35(6,9$3526Ì0.21=8/78-7(.21=80$&,
683(59ëæ,91ë&+.2.7(-/Ĭ6(69ë0/e.$Ĥ(0
7(172352*5$01(0É1$+5$=29$7/e.$Ĥ6.283eą,32.8'-67(
1(02&1Ì1(%20É7(32'(=Ĥ(1Ì1$85ą,7281(02&0Ĕ/,%<67(
1$9ä7Ì9,7/e.$Ĥ(32.8'%(5(7(/e.<1$3Ĥ('3,61(0Ĕ/,%<67(
9ë5$=1Ĕ0Ĕ1,7-Ì'(/1Ìą(.%(=3Ĥ('&+2=Ì.21=8/7$&(
6/e.$Ĥ(0-$.É.2/,9=0Ĕ1$-Ì'(/1Ìą.8727,æ0Ĭæ(29/,91,7
0(7$%2/,6086$Ôą,1.</e.Ĭ
34/112
)É=(
1
=SRĆiWNXSRXçtYHMWHMHPQpGUXK\OLVWRYp]HOHQLQ\MDNRåSHQiW
SROQtĆHNPODGRXNDSXVWXDSRG2YRFHWRWLçGRNiçHYøERUQĕ
]DPDVNRYDWMHMtFKXīDY\WYRĥtODKRGQøDRVYĕçXMtFtQiSRM
([SHULPHQWXMWHVPQRçVWYtPSĥLGDQpYRG\DE\VWHGRViKOL
LGHiOQtNRQ]LVWHQFHątPYtFYRG\SRXçLMHWHWtPĥLGåtNRNWHMOEXGH
$QDRSDN1LNG\DOHQHSĥHNUDĆXMWH]QDĆNX0$;2GROHMWHSRNXåHQt
SĥLGDWMDNRXNROLSĥHGHP]SUDFRYDQRXVXURYLQXMDNRQDSĥRYRFQø
GçXV1HMOHSåtFKYøVOHGNĭWRWLçGRViKQHWHMHQVĆHUVWYøPL
DQH]SUDFRYDQøPLVXURYLQDPL
8YHGHQpUHFHSW\MVRXYKRGQpSURW\NGRVHVXSHUYøçLYQøPL
NRNWHMO\]DĆtQDMt5HFHSW\DOHPĭçHWHREPĕğRYDWSRGOHVYp
IDQWD]LHDRW\QHMOHSåtYøWYRU\VHVQiPLPĭçHWH
SRGĕOLW
.RNWHMOQDY\SODYHQtWR[LQĠ
9\SODYWHWR[LQ\SRPRFt
ODKRGQpKRRYRFQpKRNRNWHMOX
‡ 12KUVWLRSOiFKQXWøFKåSHQiWRYøFKOLVWĭ
‡ 1KUXåNDEH]MiGĥLQFH
‡ 1EDQiQ
‡ 1MDEONREH]MiGĥLQFH
‡ 1åiOHNDQDQDVX
‡ YRGD
.RNWHMOQDSRVtOHQt
LPXQLW\
=ĭVWDğWH]GUDYtLEĕKHP
FKĥLSNRYpVH]yQ\GtN\ODKRGQpPX
HOL[tUXSOQpPXDQWLR[LGDQWĭ
3ĥHGHMGĕWHUDNRYLQĕVUGHĆQtP
‡ KUVWLRSOiFKQXWpPODGp
RQHPRFQĕQtPDYLUĭPGtN\
WRPXWRFKXWQpPXNRNWHMOXSOQpPX NDSXVW\
‡ EDQiQ
ÁDYRQRLGĭ
‡ RORXSDQøSRPHUDQĆ
‡ 12KUVWLRSOiFKQXWøFK
‡ åiOHNDQDQDVX
åSHQiWRYøFKOLVWĭ
‡ KUVWERUĭYHN
‡ 1åiOHNERUĭYHN
‡ YRGD
‡ 1EDQiQ
‡ 1KUVWMDKRG
‡ YRGD
3ĖtOLYYLWDOLW\
32=1É0.$9HOLNRVWRYRFHD]HOHQLQ\VHPĭçHNXVRG
NXVXOLåLWSURWRGHMWHSR]RUDE\VWHQHSĥHNURĆLOL
]QDĆNX0$;QDQiGREĕ
35/112
7,3<1$683(59ëæ,91e.2.7(-/<
/DKRGQpUiQR
3URWHLQRYiERPED
=DĆQĕWHVYĭMGHQVQHVSRXWDQRX
HQHUJLtSOQRXFKXWL
‡ 12KUVWLRSOiFKQXWøFK
åSHQiWRYøFKOLVWĭ
‡ 1DYRNiGR
‡ 1åiOHNMDKRG
‡ 1åiOHNPDQJD
‡ óåiONXSORGĭNXVWRYQLFH
ĆtQVNpJRML
‡ YRGD
/DKRGQøNRNWHMOSOQøEtONRYLQYiP
GRGiHQHUJLLQDQĕNROLNKRGLQ
‡ KUVWLPODGpNDSXVW\
‡ DYRNiGR
‡ åiOHNPDOLQ
‡ SRPHUDQĆ
‡ åiOHNPDQJD
‡ åiONXRĥtåNĭNHåX
‡ YRGD
2ĖHFKRYìQHNWDU
2GYDçWHVHVODKRGQøPNRNWHMOHP
SOQøPFHQQøFKYLWDPtQĭ
‡ 12KUVWLRSOiFKQXWøFK
åSHQiWRYøFKOLVWĭ
‡ 1EDQiQ
‡ 1åiOHNMDKRG
‡ 1åiOHNFXNURYpKRPHORXQX
‡ 1/åiONXYODåVNøFKRĥHFKĭ
‡ YRGD
%URVNYRYìNRNWHMO
6NYĕOpVSRMHQt]GUDYøFKWXNĭDFKXWL
‡ KUVWLPODGpNDSXVW\
‡ EDQiQ
‡ EURVNHY
‡ åiOHNFXNURYpKRPHORXQX
‡ åiOHNRVWUXçLQ
‡ YRGD
7URSLFNiY]SUXKD
1DVWDUWXMWHVYĭMLPXQLWQtV\VWpP
WtPWRQiSRMHPSOQøPYLWDPtQX&
‡ 2KUVWLPODGpNDSXVW\
‡ 1DYRNiGR
‡ åīiYD]òFLWURQX
‡ 1åiOHNPDQJD
‡ 1åiOHNSDSiML
‡ óåiONXGøğRYøFKVHPtQHN
‡ YRGD
32=1É0.$9HOLNRVWRYRFHD]HOHQLQ\VHPĭçHNXVRG
NXVXOLåLWSURWRGHMWHSR]RUDE\VWHQHSĥHNURĆLOL
]QDĆNX0$;QDQiGREĕ
36/112
)É=(
3RVWXSQĕMVWH]DĥDGLOLVXSHUYøçLYQpNRNWHMO\GRVYpKRMtGHOQtĆNXD
VWDOLVHH[SHUW\QDQXWULĆQĕH[WUDKRYDQpSRWUDYLQ\7HĐQDVWDOĆDV
DE\VWHY\]NRXåHOLGDOåtVXURYLQ\DQRYpYLWDPtQ\DPLQHUiO\6QDçWH
VHQHXSDGQRXWGRVWHUHRW\SXRKOHGQĕSRXçtYDQøFKLQJUHGLHQFt
ątPYtFUĭ]QøFKGUXKĭRYRFH]HOHQLQ\DVHPtQHNEXGHWHSRXçtYDW
WtPYtFçLYLQ]tVNiWH
1ĕNWHUiOLVWRYi]HOHQLQDSRXçtYDQiYUHFHSWHFK]Ii]H2Pi
YøUD]QĕMåtFKXīQHç]HOHQLQD]Ii]H10RçQiEXGHWHFKWtWY\YiçLW
FKXīQDSĥĥtPVNpKRQHERKOiYNRYpKRVDOiWXVODGåtPRYRFHP
DRĥtåN\,GHiOQtMVRXPDQGOHNHåXQHERYODåVNpRĥHFK\NWHUpQDYtF
GRGDMtYDåHPXNRNWHMOXFHQQpEtONRYLQ\1HERMWHVHH[SHULPHQWRYDW
DYDåHQHMRVYĕGĆHQĕMåtUHFHSW\QiPPĭçHWHSRVODW
9WXWRFKYtOLPĭçHWH]DĥDGLW2VXSHUYøçLYQøNRNWHMOGRVYpKR
GHQQtKRMtGHOQtĆNX6XSHUYøçLYQøNRNWHMOMHYøERUQRXRGSROHGQt
VYDĆLQNRXQHEROHKNRXYHĆHĥtątPYtFQXWULĆQtFKNRNWHMOĭ
]DĥDGtWHGRVYpVWUDY\WtPOpSHVHEXGHWHFtWLW9\FKXWQiWHVL
NOLGQĕMåtVSiQHNSĥtYDO\HQHUJLHDPpQĕEROHVWL=GHMVRXWLS\QD
GHQQtVXSHUYøçLYQpNRNWHMO\
(OL[tUHQHUJLH
3UDPHQPOiGt
'RGHMWHåYLKVYpPXNURNX
VWtPWRHOL[tUHPHQHUJLH
-HWRSHUIHNWQtRGSROHGQt
Y]SUXKD
2POiGQĕWHDWXWR]PĕQX
VLSRĥiGQĕY\FKXWQHMWH
‡ 2KUVWLRSOiFKQXWøFK
åSHQiWRYøFKOLVWĭ
‡ 1åiOHNĆHUYHQpKR
KUR]QRYpKRYtQD
‡ 1EDQiQ
‡ 1åiOHNMDKRG
‡ 1/åiONXPDQGOt
‡ 1OçLĆNDSUiåNXPDFD
‡ YRGD
‡ 2KUVWLPODGpNDSXVW\
‡ 1EDQiQ
‡ 1åiOHNĆHUYHQpKR
KUR]QRYpKRYtQD
‡ 1KUXåNDEH]MiGĥLQFH
‡ 1/åiONXYODåVNøFKRĥHFKĭ
‡ YRGD
32=1É0.$9HOLNRVWRYRFHD]HOHQLQ\VHPĭçHNXVRG
NXVXOLåLWSURWRGHMWHSR]RUDE\VWHQHSĥHNURĆLOL
]QDĆNX0$;QDQiGREĕ
37/112
7,3<1$683(59ëæ,91e.2.7(-/<
(OL[tUGORXKRYĈNRVWL
3ĖtURGQtERQERQ
'HMWHVERKHPVWiUQXWtVWtPWR
OHKNøPDU\FKOøPNRNWHMOHP
‡ 2KUVWLĥtPVNpKRVDOiWX
‡ 1DYRNiGR
‡ 1RNXUND
‡ 1åiOHNPHORXQXFDQWDORXSH
‡ óåiONXRĥtåNĭNHåX
‡ VQtWNDPiW\
‡ YRGD
1DYRĐWHVLKRUPRQiOQtURYQRYiKXVWRXWR
ODKRGQRXN~URX
‡ 2åiON\KOiYNRYpKRVDOiWX
‡ 1KUXåNDEH]MiGĥLQFH
‡ 1MDEONREH]MiGĥLQFH
‡ 1åiOHNERUĭYHN
‡ 1EDQiQ
‡ 1OçLĆNDSUiåNXPDFD
‡ YRGD
3UREX]HQtVJRML
$QWLR[LGDQWRYiVPĈV
'RELMWHVHFKXīRYRX
DYLWDPtQRYRXERPERX
‡ 2åiON\KOiYNRYpKRVDOiWX
‡ 1åiOHNFXNURYpKRPHORXQX
‡ 1åiOHNPHORXQXFDQWDORXSH
‡ 1åiOHNPHORXQX
‡ 1EDQiQ
‡ 1/NXVWRYQLFHĆtQVNpJRML
‡ YRGD
=DçHğWHYROQpUDGLNiO\DSURGOXçWHVLçLYRW
‡ 2KUVWLKOiYNRYpKRVDOiWX
‡ 1EDQiQ
‡ 1SRPHUDQĆ
‡ 1åiOHNDQDQDVX
‡ 1åiOHNPDQJD
‡ óåiONXPDQGOt
‡ YRGD
32=1É0.$9HOLNRVWRYRFHD]HOHQLQ\VHPĭçHNXVRG
NXVXOLåLWSURWRGHMWHSR]RUDE\VWHQHSĥHNURĆLOL
]QDĆNX0$;QDQiGREĕ
38/112
)É=(
-DNVHFtWtWH"3RGĕOWHVHVQiPLRVYpYøVOHGN\
DQHMREOtEHQĕMåtUHFHSW\QDVXSHUYøçLYQpNRNWHMO\
QDZHERYøFKVWUiQNiFK
*UDWXOXMHPHGRVWDOLMVWHVHDçGRIi]H3-VWHSĥLSUDYHQLQD
GDOåtGiYNXUHFHSWĭSOQøFKRYRFHD]HOHQLQ\"6DPR]ĥHMPĕçH
MVWH
8QiVYHVYĕWĕVXSHUYøçLYQøFKNRNWHMOĭVHĥtNiÅątPYtF
KRĥNpWtPOHSåt´+RĥNiOLVWRYi]HOHQLQDMDNRNDSXVWDQHER
PDQJROGREVDKXMtREURYVNpPQRçVWYtYiSQtNXDKRĥĆtNX²
PLQHUiO\NWHUpMVRXQH]E\WQpSUR]GUDYpNRVWL7PDYpD
KRĥNpGUXK\OLVWRYp]HOHQLQ\MVRXSOQpDQWLR[LGDQWĭNWHUp
]DEUDğXMtY]QLNXUDNRYLQ\²EHWDNDURWHQXYLWDPtQX(D
PDQJDQX7DWR]HOHQLQDVHSRXçtYiWDNpYĆtQVNpPHGLFtQĕN
GHWR[LNDFLMDWHUDFHOpKRRUJDQLVPX
'iYiWHVLGRNRNWHMOXÅY]SUXKX´"9HIi]L3E\VWHMLPĕOL
GiWGRNDçGpKRVXSHUYøçLYQpKRNRNWHMOX.URPĕUĭ]QøFK
VHPtQHNQHERRĥtåNĭPĭçHWHSRXçtWLH[RWLFNpVXURYLQ\MDNR
SORG\NXVWRYQLFHĆtQVNpJRMLSUiåHNPDFDQHERSORG\DFDt
7\YiåVXSHUYøçLYQøNRNWHMOGRVORYDQDNRSQRX3ORG\JRMLPDMt
]DMtPDYRXFKXīDREVDKXMtKRGQĕYLWDPtQX$NWHUøIXQJXMH
SURWLVWiUQXWtDVUGHĆQtPRQHPRFQĕQtPSRGSRUXMHLPXQLWX
DFKUiQt]UDN3UiåHNPDFDGRGiNRNWHMOXOHKNRXSĥtFKXī
NRXĥHQHERNiY\-HWRYøERUQøDGDSWRJHQNWHUø]Y\åXMH
RGROQRVWRUJDQLVPXYĭĆLYQĕMåtPWR[LQĭP7DNpSRVLOXMH
RVODEHQøLPXQLWQtV\VWpP3ORG\DFDtMVRX]QiPpVYøP
SR]LWLYQtPYOLYHPQDREUDQ\VFKRSQRVWDVSiQHN8OHYXMt
RGEROHVWLDSĥLVStYDMtN]iĥLYpSOHWLDYODVĭP1DWDNPDOp
SORG\WRMHWHG\YøNRQ
39/112
7,3<1$683(59ëæ,91e.2.7(-/<
'REtMHĀHQHUJLH
=DĆQĕWHVYĭMGHQVSĥtOLYHPYiSQtNXDKRĥĆtNXæiGQøGRSOQĕNVWUDY\
QHFKXWQiWDNGREĥHMDNRWHQWRNRNWHMO
‡ 12KUVWLRSOiFKQXWpNDSXVW\
‡ 1EURVNHYEH]SHFN\
‡ 1EDQiQ
‡ 1KUVWMDKRG
‡ 1/åiONXOQĕQpKRVHPtQND
‡ 1/åiONXSORGĭNXVWRYQLFHĆtQVNpJRML
‡ YRGD
(OL[tU]GUDYpKRWUiYHQt
7HQWRDQDQDVRYøNRNWHMOMHSOQøFHQQøFKHQ]\PĭNWHUp]DMLVWtKODGNø
FKRGYDåHKRWUiYLFtKRV\VWpPX
‡ 12KUVWLRSOiFKQXWpKRPDQJROGX
‡ 1EDQiQ
‡ 1åiOHNDQDQDVX
‡ 1MDEONR
‡ 1åiOHNERUĭYHN
‡ óåiONXQDPRĆHQøFKSORGĭNXVWRYQLFHĆtQVNpJRML
‡ YRGD
.RNWHMOSUR]GUDYiMiWUDDVWĖHYD
'HWR[LNXMWHRUJDQLVPXVDMHåWĕVLSRFKXWQHMWH
‡ 12KUVWLRSOiFKQXWpPODGpNDSXVW\
‡ 1EDQiQ
‡ 1åiOHNDQDQDVX
‡ 1åiOHNĆHUYHQpKRKUR]QRYpKRYtQD
‡ óåiONXNRQRSQpKRVHPtQND
‡ YRGD
32=1É0.$9HOLNRVWRYRFHD]HOHQLQ\VHPĭçHNXVRG
NXVXOLåLWSURWRGHMWHSR]RUDE\VWHQHSĥHNURĆLOL
]QDĆNX0$;QDQiGREĕ
40/112
%DQiQRYROHVQtNRNWHMO
=tVNHMWHU\FKOHHQHUJLLDYLWDOLWXVWtPWRODKRGQøP
NRNWHMOHP
‡ 2KUVWLNDSXVW\
‡ 1EDQiQ
‡ 2ItN\
‡ 1MDEONREH]MiGĥLQFH
‡ 1KUVWERUĭYHN
‡ 1/åiONXYODåVNøFKRĥHFKĭ
‡ óåiONXSORGĭDFDt
‡ YRGD
.DSXVWRYRDYRNiGRYìNRNWHMO
5R]YLğWHVYpOLELGRVWtPWR~çDVQøPNRNWHMOHP
‡ 2KUVWLNDSXVW\
‡ 1DYRNiGR
‡ 1åiOHNPHORXQX
‡ 1åiOHNĆHUYHQpKRKUR]QRYpKRYtQD
‡ 1OçLĆNDSUiåNXPDFD
‡ óåiONXMDKRG
‡ YRGD
0HORXQRYiERPED
'RSĥHMWHVLYOiNQLQX
DRGSODYWHNLORJUDP\VWtPWR
PHORXQRYøPSRWĕåHQtP
‡ 2KUVWLNDSXVW\
‡ 1EDQiQ
‡ 1åiOHNEtOpKRKUR]QRYpKR
YtQD
‡ 1åiOHNPHORXQXFDQWDORXSH
‡ 1KUVWMDKRG
‡ 1/åiONXRĥtåNĭNHåX
‡ YRGD
32=1É0.$9HOLNRVWRYRFHD]HOHQLQ\VHPĭçHNXVRG
NXVXOLåLWSURWRGHMWHSR]RUDE\VWHQHSĥHNURĆLOL
]QDĆNX0$;QDQiGREĕ
www.nutribullet.com
41/112
7,3<1$683(59ëæ,91e.2.7(-/<
'REtMHĀHQHUJLH
1DVWDUWXMHWHVYpWĕORVWtPWRFKXWQøPDYøçLYQøPNRNWHMOHP
‡ 2KUVWLPDQJROGX
‡ 1EDQiQ
‡ 1QHNWDULQNDEH]SHFN\
‡ 1åiOHNERUĭYHN
‡ óåiONXSORGĭNXVWRYQLFHĆtQVNpJRML
‡ YRGD
0DQJROGRYìPL[
'RSĥHMWHVLODKRGQRXDYøçLYQRXVPĕV
‡ 2KUVWLPDQJROGX
‡ 1EDQiQ
‡ 1åYHVWNDEH]SHFN\
‡ 1åiOHN]HOHQpKRKUR]QRYpKRYtQD
‡ 1/åiONXGøğRYøFKVHPtQHN
‡ YRGD
%RMRYQtNVYROQìPLUDGLNiO\
5R]OXĆWHVHVYROQøPLUDGLNiO\SRPRFt~çDVQpKRNRNWHMOX
‡ 2KUVWLPDQJROGX
‡ 1DYRNiGR
‡ 1åiOHNPHORXQX
‡ 1åiOHNRVWUXçLQ
‡ 1ItN
‡ òåiONXERUĭYHN
‡ 1/åiONXOQĕQpKRVHPtQND
‡ YRGD
32=1É0.$9HOLNRVWRYRFHD]HOHQLQ\VHPĭçHNXVRG
NXVXOLåLWSURWRGHMWHSR]RUDE\VWHQHSĥHNURĆLOL
]QDĆNX0$;QDQiGREĕ
42/112
683(59ëæ,91ë.2.7(-/352æ,927
9WXWRFKYtOLMVWHXçXUĆLWĕSRFtWLOL~çDVQpSR]LWLYQt~ĆLQN\QXWULĆQĕ
H[WUDKRYDQpKRMtGOD'RVYøFKNRNWHMOĭVLDOHLQDGiOHSĥLGiYHMWHFRQHMYtF
RYRFHD]HOHQLQ\'RSROHGQHVLGHMWHYHONøNRNWHMODMDNRYHĆHUQtVYDĆLQNX
VLGRSĥHMWHPHQåtVXSHUYøçLYQøNRNWHMOątPYtFçLYLQWDN]tVNiWHWtPOpSH
VHEXGHWHFtWLW
Poznámka:,QIRUPDFHDSRVWXS\]WpWRXçLYDWHOVNpSĥtUXĆN\QHQDKUD]XMt
SUDYLGHOQRXOpNDĥVNRXSpĆL9åHFKQ\RWi]N\WøNDMtFtVH]GUDYtDVWUDY\
.
NRQ]XOWXMWHVHVYøPOpNDĥHP
43/112
-(=7(52=801ć32&(/ë'(1
1HMOHSåtFKYøVOHGNĭVHVXSHUYøçLYQøPLNRNWHMO\GRViKQHWHNG\çEXGHWHMtVWFHOø
GHQUR]XPQĕ7REXGHMHåWĕMHGQRGXååtDçVLYDåHWĕOR]Y\NQHQD]YøåHQøSĥtVXQ
çLYLQYVXSHUYøçLYQøFKNRNWHMOHFKMHGQRXQHERGYDNUiWGHQQĕ=MLVWtWHçHYDåH
WĕORXçQHWRXçtSRVODGNpPWXĆQpPDSĥHVROHQpPMtGOH3RGtYHMWHVHGRWDEXON\
QDVWUDQĕ54NGHQDMGHWHVH]QDPSRWUDYLQYKRGQøFKSĥLQRYpPVWUDYRYDFtP
UHçLPX1DQiVOHGXMtFtFKVWUiQNiFKSDNQDOH]QHWHä(67,7ë'(11Ì3/É1
3520Ĕ1<1875,%8//(7
9\FKXWQHMWHYåHFKQDSR]LWLYDNWHUiH[WUDNWRU1875,%8//(7QDEt]t1D
]GUDYt
44/112
ä(67,7ë'(11Ì3/É13520ć1<
1875,%8//(7
1HQtQLFOHSåtKRQHçVHFtWLWGREĖH
45/112
7(172ä(67,7ë'(11Ì3/É13520Ĕ1<MHXUĆHQSURYåHFKQ\NWHĥtVLSĥHMt
YøUD]Qĕ]OHSåLWVYp]GUDYtDçLYRW
1DQiVOHGXMtFtFKVWUDQiFKQDOH]QHWHMtGHOQtĆN\UHFHSW\UDG\DGRSRUXĆHQt
NWHUpYiPSRPĭçRX]OHSåLW]GUDYtDQDEøW]SĕW]WUDFHQRXYLWDOLWX
7LNWHĥtWHQWRSOiQY\]NRXåHOLMLçSRQĕNROLNDWøGQHFK]tVNDOLYtFHHQHUJLH
]KXEOLDQ\QtY\SDGDMtDFtWtVHOpSH-VWHSĥLSUDYHQL]DĆtW"
2WRĆWHVWUiQNXDGR]YtWHVHYtFH
9$529É1Ì
32.8'8æÌ9É7(-$.e.2/,/e.<3Ĥ('(9äÌ0/e.<1$61Ìæ(1Ì
+/$',1<&+2/(67(52/81$61Ìæ(1Ì.5(91Ì+27/$.8
1$Ĥ('Ĕ1Ì.59(6('$7,9$ą,$17,'(35(6,9$3526Ì0
.21=8/78-7(.21=80$&,683(59ëæ,91ë&+.2.7(-/Ĭ6(
69ë0/e.$Ĥ(0
7(172352*5$01(0É1$+5$=29$7/e.$Ĥ6.283eą,
32.8'-67(1(02&1Ì1(%20É7(32'(=Ĥ(1Ì1$85ą,728
1(02&0Ĕ/,%<67(1$9ä7Ì9,7/e.$Ĥ(32.8'8æÌ9É7(
/e.<1$3Ĥ('3,61(0Ĕ/,%<67(9ë5$=1Ĕ0Ĕ1,769Ĭ-
-Ì'(/1Ìą(.%(=3Ĥ('&+2=Ì.21=8/7$&(6/e.$Ĥ(0
-$.É.2/,9=0Ĕ1$-Ì'(/1Ìą.8727,æ0Ĭæ(29/,91,7
0(7$%2/,6086'$1e+2/e.81$3Ĥ('3,6
Poznámka:,QIRUPDFHDSRVWXS\]WpWRXçLYDWHOVNpSĥtUXĆN\QHQDKUD]XMt
SUDYLGHOQRXOpNDĥVNRXSpĆL9åHFKQ\RWi]N\WøNDMtFtVH]GUDYtDVWUDY\
.
NRQ]XOWXMWHVHVYøPOpNDĥHP
46/112
ä(67,7ë'(11Ì3/É13520ć1<
1875,%8//(7
1HQtQLFOHSåtKRQHçVHFtWLWGREĖH
9SUĭEĕKXQiVOHGXMtFtFKåHVWLWøGQĭYøUD]Qĕ]OHSåtWHWRMDNVHFtWtWH
DMDNY\SDGiWHSRX]HGtN\MHGQpMHGQRGXFKp]PĕQĕ³]DĥD]HQt-Ì'/$
6(;75$+29$1ë0,æ,9,1$0,GRVYpKRMtGHOQtĆNX1iåVQDGQøä(67,7ë'(11Ì
3/É13520Ĕ1<YiPSRVN\WQHYåHSRWĥHEQpSURWRDE\YDåHWĕOR]tVNDOR]SĕW
]WUDFHQRXYLWDOLWX3URJUDPMHUR]GĕOHQGRWĥtGYRXWøGHQQtFKHWDSYMHMLFKç
SUĭEĕKXEXGHWHGRVYpKRMtGHOQtĆNXSRVWXSQĕ]DĥD]RYDWVWiOHYtFHĆHUVWYøFK
DQH]SUDFRYDQøFKSRWUDYLQ
.DçGiHWDSDSURJUDPXY\XçtYiMDNR]iNODGVXSHUYøçLYQøNRNWHMO³Y\VRFH
YøçLYQøDFKXWQøNRNWHMONWHUøVHVQDGQRSĥLSUDYXMHDMHåWĕVQDGQĕML
NRQ]XPXMH1DSOğWHH[WUDNWRURYRFHP]HOHQLQRXDGDOåtPLGREURWDPLD]D
QĕNROLNVHNXQGPĭçHWHVYpPXWĕOXGRSĥiWRSWLPiOQtYøçLYX9SUĭEĕKX
SURJUDPXEXGHWHSRVWXSQĕ]Y\åRYDWSRĆHWDYøçLYRYRXKXVWRWXNRNWHMOĭ
6XSHUYøçLYQpNRNWHMO\VHVQDGQRSĥLSUDYXMtDSĥHQiåtDGtN\WRPXMHMHåWĕ
VQDGQĕMåt'2'5æ29$7ä(67,7ë'(11Ì3/É13520Ĕ1<1ĕNROLNUiWGHQQĕVL
GRSĥHMHWHW\WRY\VRFHYøçLYQpQiSRMHDQLçE\VWHPXVHOLFRNROLYDĥLWD]DåSLQLOL
KUQFHDSiQYHąLåWĕQtH[WUDNWRUXMHKUDĆNDDQHYĕĥLOL
E\VWHMDNVQDGQRVLPĭçHWHY]tWVYĭMNRNWHMOVVHERXQD
FHVW\3UDFXMHWHYNDQFHOiĥL"3UDFXMHWHYHQNX"7RQHQt
çiGQøSUREOpP6WDĆtQDNRNWHMOQDåURXERYDWFHVWRYQt
YtĆNRDPĭçHWHY\UD]LW
%RMtWHVHçHYiVVXSHUYøçLYQpNRNWHMO\QH]DV\Wt"%H]
REDY%ĕKHPä(67,7ë'(11Ì+23/É183520Ĕ1<
QHEXGHWHPtWQLNG\KODGSURWRçHNURPĕVXSHUYøçLYQøFK
NRNWHMOĭEXGHWHGiOHNRQ]XPRYDWFKXWQpVYDĆLQN\
ODKRGQpSROpYN\åīDYQDWpVDOiW\DY\GDWQpYHĆHĥH
ĤLĐWHVHQiVOHGXMtFtPLSĕWLNOtĆLN~VSĕFKXDEU]\
SR]QiWHçHÅQHMGĭOHçLWĕMåtMHDE\VWHVHFtWLOLGREĥH´
47/112
3ć7./Ìÿğ.Ô63ć&+8
1 (;75$+8-7(
çLYLQ\
2 .RQ]XPXMWH
='5$9e-Ì'/2
3 .20%,18-7(
MtGORYKRGQĈ
4 9çG\PLQLPiOQĈ
32/29,1$
æ,9ë&+
3275$9,1
5 'RSĖHMWHVL
]GUDYRX
RGPĈQX
48/112
3ć7./Ìÿğ.Ô63ć&+8
$E\VWH]YøåLOLNYDOLWXVYpKRçLYRWDMHWĥHEDQDSOQRY\XçtWYåHFKQ\çLYLQ\
REVDçHQpYSRWUDYLQiFK.G\çVHEXGHWHĥtGLWQiVOHGXMtFtPLSĕWLUDGDPL
EU]\GRViKQHWHRSWLPiOQtKR]GUDYtSURVWĥHGQLFWYtPWĥtIi]tä(67,7ë'(11Ì+2
352*5$083520Ĕ1<
1
([WUDKXMWHçLYLQ\
-VPHWRFRMtPH"1HWDN~SOQĕ-VPHWRFRYVWĥHEiPHDQDåHWĕODĆDVWR
QHGRNiçRXYVWĥHEDW]iNODGQtQHSRVWUDGDWHOQpçLYLQ\
9GQHåQtPXVSĕFKDQpPçLYRWQtPVW\OXVLPiORNG\QDMGHPHĆDVDE\FKRP
MHGOL]GUDYĕDMHQPiOR]QiVçYøNiSRWUDYLQ\WDNMDNWRGRSRUXĆXMtOpNDĥL
9OLYHPWĕFKWRQiY\NĭMHSURQDåHWĕODĆtPGiOWĕçåtWUiYLWDYVWĥHEiYDW
WRFRMtPH9\ĆHUSDQpWUiYLFtHQ]\P\VSROXVHçDOXGHĆQtPLN\VHOLQDPL
NWHUpVYĕNHPVOiEQRXQHGRNiçRXUR]ORçLWMtGORWDNDE\FKRPPĕOLSĥtVWXS
NREVDçHQøPçLYLQiPDPRKOLMHY\XçtW-LQøPLVORY\YĕWåLQXçLYLQYQDåt
SRWUDYĕWĕORYĭEHFQHYVWĥHEi
3RGOHVWDWLVWLNVNDçGøPLGDOåtPL10OHW\YĕNX YVWĥHEiYiPHR10PpQĕçLYLQ.G\çQiPMH50OHW
WDNYVWĥHEiYiPHSRX]H50YåHFKçLYLQ
NWHUpNRQ]XPXMHPH$VNDçGøPURNHPVH
WRWRSURFHQWRVQLçXMH
3RNXGVHQDåHPXWĕOXGORXKRGREĕQHGRVWiYDMt
SRWĥHEQpçLYLQ\QDåHYLWDOLWDNOHViDVWiYiPHVH
QiFK\OQĕMåtPLNUĭ]QøPQHPRFtPDFKURQLFNøP
SRWtçtP
1875,%8//(7QDåWĕVWtGRNiçHUR]ORçLWMtGORQD
VQDGQRYVWĥHEDWHOQpVORçN\7HQWRSURFHVVH
QD]øYi(;75$.&(æ,9,1.G\çNRQ]XPXMHWHMtGOR
VH[WUDKRYDQøPLçLYLQDPLWDNMHGRNi]iQR
çHWĕORYVWĥHEiDç0REVDçHQøFKçLYLQ7tPWR
]SĭVREHP1875,%8//(7SURPĕğXMHEĕçQp
SRWUDYLQ\YHY\VRFHYøçLYQpSRWUDYLQ\
49/112
2
.RQ]XPXMWH]GUDYpMtGOR
3RGOHVORYQtNXMHMtGORMDNiNROLOiWNDNWHUiXPRçğXMHMHGLQFLçtW
DUĭVWDWHG\KRY\çLYXMH1D]iNODGĕWpWRGHÀQLFHDOHQDSURVWRX
YĕWåLQXQDåtGQHåQtVWUDY\QHPĭçHPHSRYDçRYDW]DMtGOR
1iåW\SLFNøMtGHOQtĆHNVHWRWLçVNOiGiSĥHGHYåtP]SĥHGHP]SUDFRYDQøFK
SRWUDYLQ7\REVDKXMtPQRKRSĥLGDQøFKLQJUHGLHQFtQDSĥtNODGVROLFXNUX
NXNXĥLĆQpKRVLUXSXFKHPLFNøFKNRQ]HUYDQWĭD]WXçHQøFKWXNĭNWHUp
QHPDMtSURWĕORçiGQRXYøçLYRYRXKRGQRWX9HVNXWHĆQRVWLPQRKRWĕFKWR
LQJUHGLHQFtåNRGtQDåHPXWĕOXL]GUDYt9åHFKQ\KRWRYpSRNUP\MVRX
SĥHGHP]SUDFRYDQpWDNçHSRNXGMVWHVLMtGORQHSĥLSUDYLOLVDPLWDNKR
SUDYGĕSRGREQĕYUiPFLWRKRWRSURJUDPXQHEXGHWHPRFLNRQ]XPRYDW
=GUDYpMtGOR]QDPHQiQH]SUDFRYDQpMtGOR7RWRMtGORQHREVDKXMH
LQJUHGLHQFHNWHUpDQLQHGRNiçHWHY\VORYLWQHEROiWN\NWHUpQH]QDOLDQL
YDåLSUDURGLĆH1HSURGiYiVHYNUDELĆFHWXEĕDQLPLVFHGRPLNURYOQN\
1HQtXPĕOHGRFKXFRYDQpDQLQHSODYHYQH]GUDYpRPiĆFH
=GUDYpMtGORMHMtGORYHVYpSĭYRGQtSRGREĕ-VRXWRFHOR]UQQpRELORYLQ\
RYRFH]HOHQLQDOXåWĕQLQ\DPDVR=GUDYpMtGORPiY\VRNøREVDK
DQWLR[LGDQWĭYLWDPtQĭPLQHUiOĭDI\WRFKHPLFNøFKOiWHNNWHUpFKUiQt
QDåHWĕORSĥHGYROQøPLUDGLNiO\DRQHPRFQĕQtPL
1DWĕFKWRSRWUDYLQiFKMH]DORçHQQiååHVWLWøGHQQtSOiQSURPĕQ\
3ĥLSDGiYiPWRVORçLWp"1HQtVHĆHKREiW5HFHSW\SRGOHä(67,7ë'(11Ì+2
3/É183520Ĕ1<SĥLSUDYtWHU\FKOHDVQDGQRDXUĆLWĕYiP
]DFKXWQDMt'RGUçXMWHQiåMtGHOQtĆHNSRGREXåHVWLWøGQĭ
DVDPLXYLGtWHMDNNRQ]XPDFH]GUDYøFKSRWUDYLQ
]OHSåtYDåLQiODGX]YøåtKODGLQXHQHUJLH
D]NYDOLWQtYiåçLYRW
50/112
3ć7./Ìÿğ.Ô63ć&+8
3.RPELQXMWHMtGORYKRGQĈ
9ĕWåLQD]QiVY\UĭVWDODYGRPQĕQtçH]GUDYøSRNUPVHVNOiGi]MHGQpSRUFH
EtONRYLQMHGQpSRUFHVDFKDULGĭDMHGQpĆLGYRXSRUFt]HOHQLQ\6WXGLHYåDN
GRND]XMtçHEtONRYLQ\DVDFKDULG\VHåWĕStRGOLåQøPLHQ]\P\DSRNXGW\WR
HQ]\P\YVWRXStGRYDåtWUiYLFtVRXVWDY\]iURYHğY\UXåtVHMHMLFK~ĆLQN\7tP
VH]SRPDOtSURFHVWUiYHQtDWĕORMHSDNXQDYHQp]SRPDOHQpQDWHNOp
DQDIRXNQXWp.GRE\VHFKWĕOWDNWRFtWLW"
=iNODGHPMHWHG\QHMtVWEtONRYLQ\DVDFKDULG\]iURYHğ9\FKXWQHMWH
VLSRNUP\VORçHQp]HVDFKDULGĭD]HOHQLQ\QHEREtONRYLQD]HOHQLQ\
$E\FKRPYiPWRXVQDGQLOLYUiPFLQDåHKRSOiQXVHREĕGVNOiGi]H
VDFKDULGĭDVDOiWXDYHĆHĥH]SURWHLQĭDVDOiWX.RPELQXMWHVDOiWRYRX
]HOHQLQXVFHOR]UQQøPLRELORYLQDPLĆLåNURERYRX]HOHQLQRXEĕKHPGQH
DMH]WHVDOiWRYRX]HOHQLQXVĆLVWøPLSURWHLQ\YHĆHU%U]\VLSRYåLPQHWH
UR]GtOXDEXGHWHVHFtWLWPQRKHPOpSH
=GHXYiGtPHVH]QDPSRYROHQøFKåNUREĭVDOiWRYp]HOHQLQ\VQt]NøP
REVDKHPåNUREXDĆLVWøFKSURWHLQĭNWHUpYiVEXGRXYSURJUDPXSURYi]HW
6$/É729É
=(/(1,1$61Ì=.ë0
2%6$+(0ä.52%8
9åHFKQDOLVWRYi
]HOHQLQDDUW\ĆRN
FKĥHVWEURNROLFH
UĭçLĆNRYiNDSXVWD
NDSXVWDPUNHY
NYĕWiNFHOHURNXUND
OLOHNSyUHNKRXE\
FLEXOHSDSULN\
ĥHGNYLĆN\GøQĕ
UDMĆHFXNHWD
6$&+$5,'<
ą,67e3527(,1<
&HOR]UQQpRELORYLQ\
FHOR]UQQiSåHQLFH
FHOR]UQQiUøçH
MHĆPHQTXLQRD
RYHVåSDOGDEXOJXU
SRSFRUQMiKO\
'UĭEHç
NXĥHFtSUVDNUĭWtSUVD
äNURERYi]HOHQLQD
ĥHSDEUDPERU\
VODGNpEUDPERU\
NXNXĥLFHID]ROH
W\NHYSDVWLQiNKUiåHN
ąHUYHQpPDVR
OLERYpKRYĕ]tYĆHWQĕ
VSRGQtNøW\]DGQtKR
URåWĕQFHDOLERYpKR
POHWpKRPDVD
5\E\
ORVRVSODWøVWODPRXQ
SVWUXK
51/112
4
9çG\PLQLPiOQĈ32/29,1$
æ,9ë&+3275$9,1
1HMPpQĕSRORYLQDNDçGpKRSRNUPXEĕKHPWRKRWRSOiQXSURPĕQ\E\VHPĕOD
VNOiGDW]ĆHUVWYpKRRYRFHĆL]HOHQLQ\'ĭYRGMHQiVOHGXMtFt
.G\çGRWĕODYVWRXStFL]tOiWN\LPXQLWQtV\VWpPY\åOHNUYtEtOpNUYLQN\NWHUp
PDMtW\WRÅYHWĥHOFH´QDSDGQRXW=WRKRWRGĭYRGXY]QLNQH]iQĕWSURWRçH
EtOpNUYLQN\VHVQDçtRFKUiQLWFHQQpWNiQĕ,NG\çWDWRUHDNFHWĕORYHVYp
SRGVWDWĕFKUiQtFKURQLFNøGORXKRGREø]iQĕWMHMHGQRX]KODYQtFKSĥtĆLQ
]KRUåHQt]GUDYRWQtKRVWDYXDKUDMHNOtĆRYRXUROLSĥLUR]YRMLPQRKDFKRURE
MDNRMVRX$O]KHLPHURYDFKRUREDDUWUy]DUDNRYLQDVUGHĆQtSĥtKRGDOXSXV
OXSpQNDQHERFpYQtPR]NRYiSĥtKRGD
'YĕVWXGLHVHYURFH2005]DEøYDO\~ĆLQN\NRQ]XPDFHçLYpYHJHWDULiQVNp
VWUDY\QDOLGVNøRUJDQLVPXV3UYQt]HVWXGLtE\ODRWLåWĕQDYĆDVRSLVH
LQWHUQtPHGLFtQ\DGRVSĕODN]iYĕUXçHMHGLQFLNWHĥtNRQ]XPXMtçLYRX
YHJHWDULiQVNRXVWUDYXPDMtYWĕOHPQRKHPPpQĕ]iQĕWĭQHçNRQWUROQt
VNXSLQDNWHUiMHGODW\SLFNRXPRGHUQtVWUDYXVNOiGDMtFtVH]YDĥHQpKR
PDVD]SUDFRYDQøFKVDFKDULGĭDçLYRĆLåQøFKWXNĭ'UXKiVWXGLHMHçE\OD
SXEOLNRYiQDYHYøçLYRYpPĆDVRSLVH]MLVWLODçHWLNWHĥtNRQ]XPXMtSĥHYiçQĕ
çLYRXYHJHWDULiQVNRXVWUDYXPDMtYøUD]QĕQLçåtKODGLQXFKROHVWHUROX/'/
7HQWRFKROHVWHUROVHXNOiGiYHVWĕQiFKWHSHQD]SĭVREXMH]iQĕW\NWHUp
YHGRXNVUGHĆQtPFKRUREiP
ä(67,7ë'(11Ì3/É13520Ĕ1<GRSRUXĆXMHDE\QHMPpQĕ50]NDçGpKR
SRNUPXWYRĥLODV\URYi]HOHQLQD7tPVH]PtUQtVWUHVRGVWUDQtSRFLWY\ĆHUSiQt
DVQtçtUL]LNRQDKKURPDGĕQt]iQĕWĭ&HOpWĕORVLVNXWHĆQĕRGG\FKQH
5
'RSĖHMWHVL
]GUDYRXRGPĈQX
6HGPøGHQ%ĭKĥHNOÅ%XGLçĆRNROiGD´
1DNRQFLNDçGpKRWøGQHVHRGPĕğWHERçVNRX
FKXWtWPDYpĆRNROiG\SOQpDQWLR[LGDQWĭ
$E\ODĆRNROiGD$FKXWQDODVNYĕOH
70$9Éą2.2/É'$
'RSRUXĆHQpĆRNROiG\
NYDOLWQtWPDYpĆRNROiG\
VREVDKHPNDNDD
RG0GR0
52/112
5$'<$'23258ÿ(1Ì352
Ô63ćä1ë352*5$0
1
%XĂWHSĖLSUDYHQL
2
2GSXVĞWHVLSĖRKĖHåHN
%XĂWHÁH[LELOQt
3LMWHYRGXSĖtURGQĈ
RFKXFHQRXYRGX
DE\OLQNRYpĀDMH
=DSLVXMWHVL
8NOt]HMWHVNĖtQĈ
LVYpWĈOR
&KXĞQDVYDĀLQX
1HQDNXSXMWHKODGRYt
1DMH]WHVHSĖHG
YHĀtUNHP
3
4
5
6
7
8
9
Poznámka: ,QIRUPDFHDSRVWXS\]WpWRXçLYDWHOVNpSĥtUXĆN\QHQDKUD]XMt
SUDYLGHOQRXOpNDĥVNRXSpĆL9åHFKQ\RWi]N\WøNDMtFtVH]GUDYtDVWUDY\
NRQ]XOWXMWHVHVYøPOpNDĥHP
53/112
'REĥHYtPHçHQHQtVQDGQp]PĕQLWVYpQiY\N\DçLYRWQtVW\ODOH
Vä(67,7ë'(11Ì03/É1(03520Ĕ1<EXGHWHEU]\Y\SDGDW~çDVQĕDFtWtWVH
VNYĕOHWDNçHEXGRXYåHFKQ\]PĕQ\XUĆLWĕVWiW]DWR$QHMGĭOHçLWĕMåtSĥHFLMH
DE\VWHVHFtWLOLGREĥH
8UĆLWĕVLEU]\XYĕGRPtWHçHĆtPYtFHEXGHWHWHQWRSOiQGRGUçRYDWWtPYtFH
KREXGHWH&+7Ì7GRGUçRYDWDEXGHWHSRNUDĆRYDWQDVYpFHVWĕ]DRSWLPiOQtP
]GUDYtP
1HO]HYåDN]DVWtUDWçHYçG\H[LVWXMHQĕMDNpSRNXåHQtDQDåHXVSĕFKDQpçLYRW\
ĆDVWRSĥtOLåQHSĥHMt]GUDYpPXçLYRWQtPXVW\OX
1iVOHGXMtFtUDG\DGRSRUXĆHQtYiPSRPĭçRXNWRPX
DE\WHQWRSOiQSUREtKDOFRQHMKODGĆHML
1%XĂWHSĖLSUDYHQL
'REĥHSĥLSUDYHQøPSOiQHPVHOpSHĥtGt
9ĕWåLQDWRKRWRSURJUDPXMH]DORçHQDQDGRPD
SĥLSUDYHQøFKSRNUPHFKDVYDĆLQiFKątPYtFH
WĕFKWRSRNUPĭPiWHEĕKHPWøGQH
NGLVSR]LFLWtPVQDGQĕMåtSURYiVEXGH
GRGUçRYDWSOiQ.G\çMHĆDVVYDĆLQ\
ĆLREĕGDYtWH3Ĥ(61ĔFREXGHWHMtVW
7DNMHGDOHNRPpQĕSUDYGĕSRGREQpçH
YiV]OiNiQĕFRFRVHGRSURJUDPXQHKRGt
'REUøQiSDGMHVWUiYLWMHGQRYtNHQGRYp
GRSROHGQHSOiQRYiQtPSRNUPĭDVYDĆLQ
QDQDGFKi]HMtFtWøGHQDQDNRXSLWDSĥLSUDYLW
VLYåHVSĥHGVWLKHP=PUD]WHVLMDNpNROL
SRNUP\NWHUpEXGHWHQiVOHGXMtFtWøGHQ
MtVWDSRNXGSUDFXMHWHPLPRGRPRY
QRVWHVLSRNUP\VVHERXGRSUiFH
3ĭOGQHSOiQRYiQtYiP]DMLVWtWøGHQSOQø
Y\QLNDMtFtFKD]GUDYøFKSRNUPĭ$QDYtF
QHXYĕĥtWHNROLNĆDVXDSHQĕ]XåHWĥtWH
NG\çVLEXGHWHVDPLYDĥLW
54/112
5$'<$'23258ÿ(1Ì352
Ô63ćä1ë352*5$0
2
2GSXVĞWHVLSURKĖHåHN
,SĥHVQHMOHSåtVQDK\QLNGRQHQtGRNRQDOø3RNXG
QiKRGRXVQtWHNROiĆHNQDRVODYĕQDUR]HQLQQHERVL
GiWHViĆHNEUDPEĭUHNMDNRQRX]RYRXVYDĆLQX
QHY]GiYHMWHVHSOiQX2GSXVīWHVLDSRNUDĆXMWH
VSURJUDPHPWDNMDNRE\VWHWHQWRSURKĥHåHN
QLNG\QHXGĕODOL
3
%XĂWHÁH[LELOQt
1HRGStUHMWHWĕOXMHKRSRWĥHE\7HQWRSOiQMH
VSHFLiOQĕQDYUçHQøWDNDE\VSOğRYDOĆLSĥHNUDĆRYDO
GRSRUXĆRYDQøSĥtVXQçLYLQ.DçGøĆORYĕNMHDOHMLQø
3RNXGMVWHKODGRYtQHERQDRSDNSOQtXSUDYWHVLSOiQSĥLPĕĥHQĕSRGOHVYøFK
SRWĥHE'iYHMWHVLYåDNSR]RUQDWRDE\MDNpNROLGRGDWHĆQpSRUFHRGSRYtGDO\
]iNODGQtPSULQFLSĭPSOiQXXYHGHQøPYVHNFL3Ĕ7./ÌąĬ.Ô63Ĕ&+8
4
3LMWHYRGXSĖtURGQĈRFKXFHQRX
DE\OLQNRYpĀDMH
,NG\çYHONiĆiVWVWUDY\YWRPWRSOiQXMHWHNXWiQH]DSRPtQHMWHQDWRçHMH
WĥHEDStWGRVWDWHĆQpPQRçVWYtYRG\.G\çEXGHWHVSUiYQĕ
GRSOğRYDWSLWQøUHçLPYiåçDOXGHNEXGHYĕGĕW
çHMVWHVSRNRMHQt7DNpVHEXGHWHOpSH
VRXVWĥHGLWPtWSOQRHQHUJLLDVQDGQĕML
GRViKQHWHVYøFKFtOĭ3RNXGGiYiWH
SĥHGQRVWRFKXFHQøPQiSRMĭP
RFKXīWHYRGXPiWRXRNXUNRXFLWURQHP
ĆLOLPHWNRX7DNpVLPĭçHWHGRSĥiYDW
E\OLQNRYpĆDMHD]HOHQpĆDMHEH]
NRIHLQX
3RNXGSLMHWHKRGQĕNiY\RPH]WHMHMt
NRQ]XPDFLQDMHGHQåiOHNGHQQĕ
1DKUDĐWHPOpNRDVPHWDQXPDQGORYøPĆL
NRQRSQøPPOpNHPDFXNUH[WUDNWHP]HVWpYLH
55/112
9SUĭEĕKXä(67,7ë'(11Ì+23/É183520Ĕ1<VHVQDçWHRPH]LWNRQ]XPDFL
DONRKROX$ONRKRO]DWĕçXMHWUiYLFtV\VWpPD]SRPDOtYDåLSURPĕQX6NOHQND
YtQDMHGQRX]DĆDVMHYSRĥiGNXDOHSURGRVDçHQtRSWLPiOQtFKYøVOHGNĭ
GRSRUXĆXMHPH~SOQRXDEVWLQHQFL
5
=DSLVXMWHVL
1875,%8//(7 SĥHGVWDYXMH NRVWUX WRKRWR SOiQX DOH MH QD YiV
DE\VWH VL VWDQRYLOL FR SĥHVQĕ EXGHWH MtVW =DSLVXMWH VL VQĕGHQp
SRNUP\DVYDĆLQ\LYHOLNRVWSRUFt=DSLVXMWHVLWDNpĆDVMtGODDE\VWH
VLXGĕODOLSĥHGVWDYXRWRPNG\GRVWiYiWHKODG
6
8NOt]HMWHVStçLVYpWĈOR
9\NOLĐWH]HVStçHDNUHGHQFtSĥHGHP]SUDFRYDQpSRNUP\DQH]GUDYp
YøUREN\DE\VWH]DEUiQLOLSRNXåHQt1HFKWHVLGRPDSRX]H]GUDYp
SRWUDYLQ\9DåHWĕORYiPSRGĕNXMH
56/112
5$'<$'23258ÿ(1Ì352
Ô63ćä1ë352*5$0
7
&KXĞQDVYDĀLQX
6WiYiVHWRLWĕPQHMRGROQĕMåtP-HGQXFKYtOLQDGåHQĕY\SUiYtWHRQRYpP
]GUDYpPçLYRWQtPVW\OXDFKYtOLQDWRSURKOHGiYiWHNUHGHQFDE\VWHQDåOL
QĕMDNRXGREURWXYWXWRFKYtOLRFHQtWHUDGXĆtVOR6
1HPĕMWHREDY\([LVWXMHPQRKRVYDĆLQHNNWHUpRGSRYtGDMt]iVDGiP
ä(67,7ë'(11Ì+23/É183520Ĕ1<.G\çQDYiVSĥLMGHKODGY\EHUWHVL
]QiVOHGXMtFtFKQiYUKĭ9çG\VLDOHGHMWHMHQ-('18325&,
6ODQp
‡ FHOR]UQQpNUHNU\VH
VHPtQN\
‡ ÅçLYp´NUHNU\
‡ VyMRYpOXVN\1/2åiONX
VHåSHWNRXVROL
‡ SRSFRUQEH]WXNX
YORçWHòViĆNXSRSFRUQXGR
YHONpVNOHQĕQpPtV\NWHURX
O]HSRXçtYDWYPLNURYOQFH
SĥLNU\MWHMLDQDVWDYWHY\VRNø
VWXSHğQD45PLQXW=ĭVWDğWH
SREOtçDY\QGHMWHPtVX
MDNPLOHVHSUDVNiQt]SRPDOt
DE\VHSRSFRUQQHSĥLSiOLO
6ODGNp
‡ Å]PU]OLQD´]H]PUD]HQpKREDQiQX]PUD]WH
MHGHQRORXSDQøEDQiQQDNUiMHQøQDNRXVN\
-DNPLOHQDYiVSĥLMGHPOVQiUR]PL[XMWHRYRFH
YPHQåtQiGREĕ1875,%8//(7VSROXVHOçLĆNRX
YRG\QHERQHVOD]HQpKRPDQGORYpKR/
NRQRSQpKRPOpNDGRKODGND3RUR]PL[RYiQt
SĥLGHMWHQDFKXīRĥtåN\DNDNDR%XGHWH
SĥHNYDSHQLMDNMHVWUXNWXUDLFKXīNRNWHMOX
SRGREQiVNXWHĆQpEDQiQRYp]PU]OLQĕD
EXGHWHSĥHPøåOHWQDGWtPSURĆWRWDN
QHGĕOiWHXçGiYQR
‡ POpĆQøNRNWHMOVPtFKHMWHQHVOD]HQp
PDQGORYpPOpNRNDNDRYøSUiåHN6Dç7NHåX
RĥtåNĭåSHWNXVWpYLHDSORG\NXVWRYQLFHJRML
YPHQåtQiGREĕ0L[XMWHGRNXGVPĕVQH]tVNi
VSUiYQRXNRQ]LVWHQFL
‡ ÅçLYp´YHJDQVNpVXåHQN\VĆRNROiGRX2/3
åiONXGDWOtEH]SHFHNóåiONXNHåXRĥtåNĭ
PDQGOtĆLYODåVNøFKRĥHFKĭóåiONX NDNDRYøFK
EREĭKREOLQHNĆRNROiG\ QHERNRXVNĭ70
KRĥNpĆRNROiG\
óOçLĆN\YDQLONRYpKRH[WUDNWX([WUDKXMWH
GDWOHRĥHFK\DYDQLONXYPHQåtQiGREĕ
GRNXGQH]tVNDMtNRQ]LVWHQFLWĕVWD=DPtFKHMWH
GRVPĕVLĆRNROiGRYpKREOLQN\DY\WYDUXMWH
W\ĆLQN\NXOLĆN\QHERMLQpWYDU\
‡ 15JNDNDRYøFKEREĭD1OçtFHUR]LQHN
57/112
6ODGNpSRNUDĀRYiQt
‡ NDNDRYøVXSHUYøçLYQøNRNWHMO²15åiONXNRNRVRYpYRG\2OçtFHPHGX
45ERUĭYHNFFD1 åiOHN15PDOLQ3OçtFHNDNRYøFKEREĭ2OçtFHPDQGOt
9ORçWH YåHFKQ\LQJUHGLHQFHGRSĥtVWURMH1875,%8//(7DH[WUDKXMWH
81HQDNXSXMWHKODGRYt
.G\çSĭMGHWHQDNXSRYDWKODGRYtPQRKHP
VQi]HSRGOHKQHWHSRNXåHQtDNRXStWHVLSĥHGHP
]SUDFRYDQpDSĥHGUDçHQpKRWRYpSRNUP\
1DNXSXMWHYçG\SRMtGOHQHERSRVYDĆLQĕ
DQH]DSRPHğWHçHĆtPPpQĕLQJUHGLHQFt
REVDKXMHGDQpMtGORWtPMHSURYDåHWĕOR
]GUDYĕMåt
9
1DMH]WHVHSĖHG
YHĀtUNHP
9SUĭEĕKXWRKRWRSOiQXPRçQi]MLVWtWHçHYUHVWDXUDFtFK
DQDQHMUĭ]QĕMåtFKVSROHĆHQVNøFKDNFtFKREY\NOHQHSRGiYDMt
MtGORNWHUpRGSRYtGiYDåLPSRçDGDYNĭP3ĥHGYHĆtUNHP
VODYQRVWQtYHĆHĥtQHERMDNRXNROLSRGREQRXXGiORVWt
VQĕ]WHMHGHQSRNUPSRGOHSOiQX2EMHGQHMWHVL
]HOHQLQRYøVDOiWQHERV\URYRX]HOHQLQXDYĕQXMWH
VHVYpVSROHĆQRVWLQLNROLWDOtĥL
58/112
352*5$0
3ĥLSUDYWHVHQDWRçHVHEU]\]DĆQHWHFtWLW~çDVQĕ1HSĥLVWXSXMWHNWRPXWR
SURJUDPXMDNRN6WøGHQQtPXVWUiGiQt1HPXVtWHVHMtPĥtGLWDOHEĕKHP
QĕNROLNDGQĭSR]DKiMHQtSURJUDPXVH]DĆQHWHFtWLWWDNGREĥHçHVHWDN
EU]\EXGHWHVWUDYRYDWVUDGRVWt$QHMGĭOHçLWĕMåtSĥHFHMHFtWLWVHVNYĕOH
683(59ëæ,91ë
.2.7(-/
– MAX LINE –
6XSHUYøçLYQøNRNWHMOVHVNOiGi
]50OLVWRYp]HOHQLQ\D50
RYRFHä(67,7ë'(11Ì3/É1
3520Ĕ1<YiPQDEt]tUĭ]Qp
UHFHSW\DOHPĭçHWHVLYçG\
Y\WYRĥLWYODVWQtNRNWHMOWDN
çHVPtFKiWHWRFRPiWH
YOHGQLFL
1DOLMWHYRGXSR]QDĆNX0$;
3ĥLGHMWHÅY]SUXKX´
50RYRFHFRQHMYtFH
GUXKĭ
50OLVWRYp]HOHQLQ\2
åiON\ 1SRUFH
59/112
683(59ëæ,91ë.2.7(-/
/,6729É=(/(1,1$²
9\EHUWHVLMHGHQ]QiVOHGXMtFtFKGUXKĭ
]HOHQLQ\QHERMH]NRPELQXMWH
1DSOğWHY\VRNRXQiGREXGR50
OLVWRYRX]HOHQLQRX1DNDçGø
VXSHUYøçLYQøNRNWHMOSRXçLMWHDç2
SOQpåiON\SOQpKUVWL]HOHQLQ\
292&(²
9\EHUWHVLOLERYROQø
SRĆHWGUXKĭNWHUp
GRKURPDG\GDMt50
VXSHUYøçLYQpKRNRNWHMOX
9=358+<
äÉ/.8
1iVOHGXMtFtLQJUHGLHQFH
MVRXGĭOHçLWRXVRXĆiVWt
VXSHUYøçLYQpKRNRNWHMOX
SURWRçHREVDKXMtYOiNQLQX
DĥDGXFHQQøFKçLYLQ'R
NDçGpKRNRNWHMOXPĭçHWH
SĥLGDW1/Dç1/4QiGRE\
NDGHĥDYi
NDSXVWD
PDQJROG
NDSXVWD
ĥtPVNøVDOiW
åSHQiW
PODGiNDSXVWD
EtOpKUR]QRYp
YtQR
JXDYH
EURVNYH
DYRNiGR
EDQiQ
PHGRYøPHORXQ
DQDQDV
RVWUXçLQ\
NLZL
åYHVWN\
ERUĭYN\
PHORXQ
FDQWDORXSH
EUXVLQN\
PDQJR
PDOLQ\
SRPHUDQĆH
ĆHUYHQp
KUR]Q\
MDKRG\
ItN\
SDSiMD
YRGQtPHORXQ
MDEOND
2ĥHFK\
QHNWDULQN\
KUXåN\
6HPtQND
PDQGOH
FKLDåDOYĕMKLVSiQVNi
NHåX
OQĕQpVHPtQNR
YODåVNp
RĥHFK\
NRQRSQpVHPtQNR
6XSHUY]SUXKD
SORG\
NXVWRYQLFH
ĆtQVNpJRML
SORG\DFDL
GøğRYiVHPtQND
VH]DPRYiVHPtQND
VOXQHĆQLFRYi
VHPtQND
Poznámka: Informace a postupy
]WpWRXçLYDWHOVNpSĥtUXĆN\
QHQDKUD]XMtSUDYLGHOQRXOpNDĥVNRX
SpĆL9åHFKQ\RWi]N\WøNDMtFtVH
]GUDYtDVWUDY\NRQ]XOWXMWHVHVYøP
OpNDĥHP
.
60/112
)É=( 1
Ii]HSUREtKiEĕKHPDWøGQHSURJUDPX%ĕKHPWpWRIi]H
‡ EXGHWHPtWGHQQĕNVQtGDQLVXSHUYøçLYQøNRNWHMOSURIi]L
‡ VQtçtWHSĥtMHPçLYRĆLåQpSRWUDY\PDVRVøUPOpĆQpYøUREN\QD6Dç
SRUFt]DWøGHQ
‡ VQtçtWHSĥtMHPVWROQtKRROHMHQD1OçtFLROLYRYpKRROHMHGHQQĕ
-Ì'(/1Ìÿ(.
1
2
61Ì'$1ć
9\EHUWHVLMDNøNROLUHFHSWQDVXSHUYøçLYQøNRNWHMOSUR1Ii]LQHER
VLY\WYRĥWHYODVWQtNRPELQDFLRYRFHOLVWRYp]HOHQLQ\DY]SUXK\
'232/('1Ì69$ÿ,1$
9\EHUWHVLMDNRXNROLVYDĆLQX]HVH]QDPXQDVWUDQĕ
3
2%ć'
9\EHUWHVLMDNøNROLSRNUP]NDWHJRULH$DMHGHQSRNUP]NDWHJRULH%
A
‡ 15åiONXVXSHUSROpYN\
‡ 15åiONXRELOQLQRYp
SĥtORK\
‡ 1:HOOQHVVZUDSĆL
VHQGYLĆ
%
‡ 2åiON\ODKRGQpÅçLYp´
SĥtORK\
‡ 2åiON\VDOiWRYp
]HOHQLQ\YODVWQtKR
YøEĕUX
‡ 2åiON\PtFKDQp
V\URYp]HOHQLQ\
YODVWQtKRYøEĕUX
61/112
-Ì'(/1Ìÿ(.
4
2'32/('1Ì69$ÿ,1$
9\EHUWHVLMDNRXNROLVYDĆLQX]HVH]QDPXQDVWUDQĕ
5
9(ÿ(ĕ(
9\EHUWHVLMDNøNROLSRNUP]NDWHJRULH$ĆL%DSĥtORKX]NDWHJRULH&
QHER
A
JSURWHLQĭ
‡ GUĭEĕçNXĥHFt
SUVDNUĭWtSUVD
‡ U\E\ORVRV
SODWøV
WODPRXQSVWUXK
‡ ĆHUYHQpPDVR
OLERYpKRYĕ]t
YĆHWQĕVSRGQt
NøW\]DGQtKR
URåWĕQFHD
OLERYpKR
POHWpKRPDVD
6
V
%
‡ 15åiONX
YHJHWDULiQVNp
YHĆHĥHYODVWQt
YROE\
&
åiON\
‡ ODKRGQpÅçLYp´
SĥtORK\V
‡ VDOiWRYp
]HOHQLQ\GOH
YODVWQtKR
YøEĕUX
‡ PtFKDQpV\URYp
]HOHQLQ\YODVWQt
YROE\
'(=(57
$ĆNROLYSUĭEĕKXSURJUDPXQHGRSRUXĆXMHPHNRQ]XPRYDWGH]HUW\
YtPHçHNDçGøREĆDVSRWĥHEXMHVODGNRXWHĆNX1DNRQFLNDçGpKRWøGQH
VLGRSĥHMWHNRXVHNNYDOLWQtWPDYpĆRNROiG\3RNXGGRVWDQHWHEĕKHP
WøGQHQH]YODGDWHOQRXFKXīQDVODGNpGHMWHVLQĕNWHURX]H]GUDYøFK
VODGNRVWt1H]DSRPHğWHçHWHQWRSOiQMHSURYiVDYDåH]GUDYtWDNçH
E\VWHPĕOLVDPLQHMOpSHSRVRXGLWNG\MHPRçQpWURFKXVHUR]PD]OLW
62/112
)É=( 2
Ii]HSUREtKiEĕKHPDWøGQHSURJUDPX%ĕKHPWpWRIi]H
‡ EXGHWHPtWGHQQĕNVQtGDQLVXSHUYøçLYQøNRNWHMOSURIi]L
‡ VLGiWHPDOø]HOHQøVXSHUYøçLYQøNRNWHMONHNDçGpPXREĕGX
‡ VQtçtWHSĥtMHPçLYRĆLåQpSRWUDY\QD4Dç6SRUFt]DWøGHQ
‡ VQtçtWHSĥtMHPVWROQtKRROHMHQD1OçtFLROLYRYpKRQHERNRNRVRYpKR
ROHMHGHQQĕ
-Ì'(/1Ìÿ(.
1
2
61Ì'$1ć
9\EHUWH VL MDNøNROLY UHFHSW QD VXSHUYøçLYQø NRNWHMO SUR Ii]L QD
VWUDQĕQHERVLY\WYRĥWHYODVWQtNRPELQDFLRYRFHOLVWRYp]HOHQLQ\D
Y]SUXK\NWHUpQDOH]QHWHQDVWUDQĕ
'232/('1Ì69$ÿ,1$
9\EHUWHVLMDNRXNROLVYDĆLQX]HVH]QDPXVYDĆLQ
3
2%ć'
'HMWHVLMHGHQ]HOHQøVXSHUYøçLYQøNRNWHMOVORXSHF$DMHGHQSRNUP
]HVORXSFH%6ORXSHF&MHYROLWHOQø
‡
A:
B:
PDOø
VXSHUYøçLYQø
NRNWHMO
‡ 15åiONXVXSHU
SROpYN\
‡ 15åiONX
RELOQLQRYp
SĥtORK\
‡ 1:HOOQHVVZUDS
ĆLVHQGYLĆ
C:
åiON\
‡ 2åiON\ODKRGQp
ÅçLYp´SĥtORK\
‡ 2åiON\VDOiWRYp
]HOHQLQ\
YODVWQtKRYøEĕUX
‡ 2åiON\PtFKDQp
V\URYp]HOHQLQ\
YODVWQtKRYøEĕUX
63/112
-Ì'(/1Ìÿ(.
4
2'32/('1Ì69$ÿ,1$
9\EHUWHVLMDNRXNROLVYDĆLQX]HVH]QDPXVYDĆLQ
5
9(ÿ(ĕ(
9\EHUWHVLMDNøNROLSRNUP]NDWHJRULH$ĆL%DSĥtORKX]NDWHJRULH&
QHER
A:
JSURWHLQĭ
‡ GUĭEĕçNXĥHFt
SUVDNUĭWtSUVD
‡ U\E\ORVRV
SODWøV
WODPRXQSVWUXK
‡ ĆHUYHQpPDVR
OLERYpKRYĕ]t
YĆHWQĕVSRGQt
NøW\]DGQtKR
URåWĕQFHD
OLERYpKR
POHWpKRPDVD
6
V
B:
‡ 15åiONX
YHJHWDULiQVNp
YHĆHĥHYODVWQt
YROE\
C:
åiON\
‡ ODKRGQpÅçLYp´
SĥtORK\
‡ VDOiWRYp
]HOHQLQ\GOH
YODVWQtKR
YøEĕUX
‡ PtFKDQpV\URYp
]HOHQLQ\YODVWQt
YROE\
'(=(57
$ĆNROLYSUĭEĕKXSURJUDPXQHGRSRUXĆXMHPHNRQ]XPRYDWGH]HUW\
YtPHçHNDçGøREĆDVSRWĥHEXMHVODGNRXWHĆNX1DNRQFLNDçGpKRWøGQH
VLGRSĥHMWHNRXVHNNYDOLWQtWPDYpĆRNROiG\3RNXGGRVWDQHWHEĕKHP
WøGQHQH]YODGDWHOQRXFKXīQDVODGNpGHMWHVLQĕNWHURX]H]GUDYøFK
VODGNRVWt1H]DSRPHğWHçHWHQWRSOiQMHSURYiVDYDåH]GUDYtWDNçH
E\VWHPĕOLVDPLQHMOpSHSRVRXGLWNG\MHPRçQpWURFKXVHUR]PD]OLW
64/112
)É=( 3
Ii]HSUREtKiEĕKHPDWøGQHSURJUDPX%ĕKHPWpWRIi]H
‡ EXGHWHPtWGHQQĕNVQtGDQLVXSHUYøçLYQøNRNWHMOSURIi]L
‡ VLGiWHYHONø]HOHQøVXSHUYøçLYQøNRNWHMONHNDçGpPXREĕGX
‡ VQtçtWHSĥtMHPçLYRĆLåQpSRWUDY\PDVRVøU\POpĆQpYøUREN\QD4ĆL
PpQĕSRUFt]DWøGHQ
-Ì'(/1Ìÿ(.
1
61Ì'$1ć
9\EHUWHVLMDNøNROLYUHFHSWQDVXSHUYøçLYQøNRNWHMOSUR3Ii]LQHER
VLY\WYRĥWHYODVWQtNRPELQDFLRYRFHOLVWRYp]HOHQLQ\DY]SUXK\
2
'232/('1Ì69$ÿ,1$
9\EHUWHVLMDNRXNROLVYDĆLQX]HVH]QDPXVYDĆLQ
3
2%ć'
'HMWHVLYHONø]HOHQøVXSHUYøçLYQøNRNWHMODMHGHQSRNUP]HVORXSFH%
QHER
A:
‡ ]HOHQøVXSHUYøçLYQø
NRNWHMO
B:
‡ 15åiONXVXSHUSROpYN\
‡ 15åiONXRELOQLQRYp
SĥtORK\
‡ 1:HOOQHVVZUDSĆL
VHQGYLĆ
65/112
-Ì'(/1Ìÿ(.
4
2'32/('1Ì69$ÿ,1$
9\EHUWHVLMDNRXNROLVYDĆLQX]HVH]QDPXVYDĆLQ
5
9(ÿ(ĕ(
9\EHUWHVLMDNøNROLSRNUP]NDWHJRULH$ĆL%DSĥtORKX]NDWHJRULH&
QHER
A:
JSURWHLQĭ
‡ GUĭEĕçNXĥHFt
SUVDNUĭWtSUVD
‡ U\E\ORVRV
SODWøV
WODPRXQSVWUXK
‡ ĆHUYHQpPDVR
OLERYpKRYĕ]t
YĆHWQĕVSRGQt
NøW\]DGQtKR
URåWĕQFHD
OLERYpKR
POHWpKRPDVD
6
V
B:
‡ 15åiONX
YHJHWDULiQVNp
YHĆHĥHYODVWQt
YROE\
C:
åiON\
‡ ODKRGQpÅçLYp´
SĥtORK\
‡ VDOiWRYp
]HOHQLQ\GOH
YODVWQtKR
YøEĕUX
‡ PtFKDQpV\URYp
]HOHQLQ\YODVWQt
YROE\
'(=(57
$ĆNROLYSUĭEĕKXSURJUDPXQHGRSRUXĆXMHPHNRQ]XPRYDWGH]HUW\
YtPHçHNDçGøREĆDVSRWĥHEXMHVODGNRXWHĆNX1DNRQFLNDçGpKRWøGQH
VLGRSĥHMWHNRXVHNNYDOLWQtWPDYpĆRNROiG\3RNXGGRVWDQHWHEĕKHP
WøGQHQH]YODGDWHOQRXFKXīQDVODGNpGHMWHVLQĕNWHURX]H]GUDYøFK
VODGNRVWt1H]DSRPHğWHçHWHQWRSOiQMHSURYiVDYDåH]GUDYtWDNçH
E\VWHPĕOLVDPLQHMOpSHSRVRXGLWNG\MHPRçQpWURFKXVHUR]PD]OLW
66/112
683(59ëæ,91ë.2.7(-/352 )É=,
1
,,PXQLWD
‡ 50åSHQiWX
‡ 50VPĕVLRYRFH
² 1FHOøSRPHUDQĆVNĭURXELR
² òFLWURQXVNĭURXELR
² 1/2OLPHWN\VNĭURXELR
² 25FP]i]YRUX
² åSHWNDPRĥVNpVROL
² 2OçtFHELRPHGX
QDSOğWHYRGRXSR]QDĆNX0$;
DH[WUDKXMWH
,, 3ĥtOLYYLWDOLW\
‡ 50åSHQiWX
‡ 50VPĕVLRYRFH
² 1/2åiONXERUĭYHN
² 1åiOHNMDKRG
² 1EDQiQ
QDSOğWHYRGRXSR]QDĆNX0$;
DH[WUDKXMWH
,,, 3URWHLQRYiERPED
‡ 50PODGpNDSXVW\
‡ 50VPĕVLRYRFH
² 1/2DYRNiGD
² 1åiOHNPDOLQ
² 1/2åiONXPDQJD
² 10NHåXRĥtåNĭ
QDSOğWHYRGRXSR]QDĆNX0$;
DH[WUDKXMWH
,9 /DKRGQpUiQR
‡ 50åSHQiWX
‡ 50VPĕVLRYRFH
² 1/2DYRNiGD
² 1/2åiONXPDQJD
² 1OçtFHNXVWRYQLFHJRML
QDSOğWHYRGRXSR]QDĆNX0$;
DH[WUDKXMWH
9, 3URWL]iQĕWOLYiVPĕV
‡ 50PODGpNDSXVW\
‡ 50VPĕVLRYRFH
² 1/4OLPHWN\VNĭURXELR
² 1/4FLWURQXVNĭURXELR
² 1/4JUDSHIUXLWXVNĭURXELR
² 1OçtFHOQĕQøFKVHPtQHN
² 1/2OçLĆN\NXUNXP\
QDSOğWHYRGRXSR]QDĆNX0$;
DH[WUDKXMWH
1(%2]NRPELQXMWH
QiVOHGXMtFtLQJUHGLHQFHDY\WYRĥWH
VLYODVWQtUHFHSW
/LVWRYi]HOHQLQD
1DSOğWHQiGREX]50
‡ PODGRXNDSXVWRX
‡ åSHQiWHP
2YRFH
=NRPELQXMWHQiVOHGXMtFtRYRFHWDNDE\
WYRĥLOR50NRNWHMOX
‡ åiOHNDQDQDVXPDQJDFXNURYpKRPHORXQX
RVWUXçLQMDKRGQHERPDOLQ
‡ MDEONR
‡ DYRNiGR
‡ EDQiQ
‡ SRPHUDQĆ
‡ EURVNHY
‡ KUXåND
9]SUXK\
'RSOğWHNRNWHMOQĕNWHURX]XYHGHQøFK
VXURYLQ
‡ 10YODåVNøFKRĥHFKĭ
‡ 10NHåXRĥtåNĭ
‡ 1OçtFHSORGĭNXVWRYQLFHJRML
‡ 1/4åiONXGøğRYøFKVHPtQHN
‡ 1/4åiONXNRQRSQøFKVHPtQHN
67/112
683(59ëæ,91ë.2.7(-/352)É=,
2
,+RUPRQiOQtURYQRYiKDSUR
PXçH
‡ 50PODGpNDSXVW\
‡ 50VPĕVLRYRFH
² 1/4PDOpĥHS\
² 10NXOLĆHNĆHUYHQpKRKUR]QRYpKRYtQD
² 2PDOpUĭçLĆN\EURNROLFH
² 15ERUĭYHN
² 1/2KUVWLGøğRYøFKVHPtQHN
² 12OçtFHROLYRYpKRROHMH
QDSOğWHYRGRXSR]QDĆNX0$;
DH[WUDKXMWH
,, ,+RUPRQiOQtURYQRYiKD
SURçHQ\
‡ 50KOiYNRYpKRVDOiWX
‡ 50VPĕVLRYRFH
² 1/2EURVNYHEH]SHFN\
² 1/2åiONXERUĭYHN
² 3SDUDRĥHFK\
² 1OçLĆNDSUiåNXPDFD
QDSOğWHYRGRXSR]QDĆNX0$;
DH[WUDKXMWH
,,, (OL[tUGORXKRYĕNRVWL
‡ 50ĥtPVNpKRVDOiWX
‡ 50VPĕVLRYRFH
² 1/2DYRNiGD
² 1RNXUND
² 1åiOHNPHORXQXFDQWDORXSH
² 12NHåXRĥtåNĭ
² 1OtVWHNPiW\
QDSOğWHYRGRXSR]QDĆNX0$;
DH[WUDKXMWH
,9 3UDPHQPOiGt
‡ 50åSHQiWX
‡ 50VPĕVRYRFH
² 1/2åiONXĆHUYHQpKRKUR]QRYpKRYtQD
² 1/2åiONXPDOLQ
² 10PDQGOt
² 1OçLĆNDSUiåNXPDFD
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
9$QWLR[LGDQWRYiVPĕV
‡ 50KOiYNRYpKRVDOiWX
‡ 50VPĕVLRYRFH
1/2EDQiQX
² 1/2SRPHUDQĆH
² 1/2åiONXDQDQDVX
² 10PDQGOt
² 1OçtFHNDNDRYpKRSUiåNX
QDSOğWHYRGRXSR]QDĆNX0$;
DH[WUDKXMWH
1(%2]NRPELQXMWH
QiVOHGXMtFtLQJUHGLHQFHDY\WYRĥWH
VLYODVWQtUHFHSW
/LVWRYi]HOHQLQD
1DSOğWHQiGREX]50
‡ PODGRXNDSXVWRX
‡ åSHQiWHP
2YRFH
=NRPELQXMWHQiVOHGXMtFtRYRFHWDNDE\
WYRĥLOR50NRNWHMOX
‡ RVWUXçLQ\MDKRG\ĆLPDOLQ\
‡ DQDQDVPDQJRFXNURYøPHORXQQHER
PHORXQFDQWDORXSH
‡ MDEONR
‡ DYRNiGR
‡ EDQiQ
‡ SRPHUDQĆ
‡ EURVNHYEH]SHFN\
‡ KUXåND
‡ åiOHNĆHUYHQpKRKUR]QRYpKRYtQD
3RYLQQpY]SUXK\
PLQLPiOQĕMHGQD
'RSOğWHNRNWHMOQĕNWHURX]XYHGHQøFK
VXURYLQ
‡ 10YODåVNøFKRĥHFKĭ
‡ 10PDQGOt
‡ 12NHåX
'DOåtY]SUXK\
'RSOğWHNRNWHMOQĕNWHURX]XYHGHQøFK
VXURYLQ
‡ 1OçLĆNDSUiåNXPDFD
‡ 1OçtFHVH]QDPRYøFKVHPtQHN
‡ 1OçtFHVHPtQHNFKLD
68/112
2 )É=(=(/(1e.2.7(-/<
,GHiOQtSUR]DĆiWHĆQtN\
9SUĭEĕKX2Ii]HSURJUDPXVLGRSĥHMWHMHGHQ
PDOø]HOHQøNRNWHMONREĕGX7tPWRQiSRMHP
PĭçHWHQDKUDGLWVDOiW]HV\URYp]HOHQLQ\QHER
VLPĭçHWHGiWRERMH
,3RY]EX]XMtFt]i]YRU
‡ 1/2PUNYHQHER5EDE\PUNYLĆHN
‡ KUVWSHWUçHOH
‡ 1RORXSDQøFLWURQ
‡ 1/2MDEONDEH]MiGĥLQFH
‡ 25FP]i]YRUX
‡ 1/2DYRNiGD
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
,, %DQiQRYRNDSXVWRYø
SRNODG
‡ 50NDSXVW\DVL5OLVWĭ
‡ 1/2åiONX]PUD]HQøFKOHVQtFKSORGĭ
‡ 1EDQiQ
‡ 1OçtFHRORXSDQøFKNRQRSQøFKVHPtQHN
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
,,, $YRNiGRVĥHĥLFKRX
‡ 25FP]i]YRUX
‡ KUVWĥHĥLFK\
‡ 1VWRQHNFHOHURYpQDWĕ
‡ KUVWåSHQiWX
‡ 1/2KUXåN\
‡ 1/2DYRNiGD
‡ 1EDQiQ
‡ 1/2åiONX]PUD]HQøFKOHVQtFKSORGĭ
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
,9 =HOHQiKRUHĆND
‡ 50åSHQiWX
‡ 1EDQiQ
‡ 1UDMĆH
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
97RPDWRNiGR
‡ 50OLVWRYp]HOHQLQ\
‡ 1/2DYRNiGD
‡ 1UDMĆH
‡ 1KUVWNRULDQGUX
‡ åīiYD]1/2OLPHWN\
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
9, 0DQJRVNDSXVWRX
‡ 50NDSXVW\
‡ 50]PUD]HQpKRPDQJD
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
1(%2VPtFKHMWHQiVOHGXMtFt
LQJUHGLHQFHDY\WYRĥWHVLYODVWQt
NRNWHMO
/LVWRYi]HOHQLQD
1DSOğWHQiGREX]50QiVOHGXMtFtPL
LQJUHGLHQFHPLMHGQRXĆLYtFH
‡ PODGRXNDSXVWRX
‡ åSHQiWHP
‡ NDSXVWRX
‡ SHWUçHOt
‡ NRULDQGUHP
‡ ĥHĥLFKRX
2YRFHD]HOHQLQD
=NRPELQXMWHQiVOHGXMtFtRYRFHWDNDE\
WYRĥLOR50NRNWHMOX
‡ RVWUXçLQ\MDKRG\ĆLPDOLQ\
‡ PDQJR
‡ MDEONR
‡ DYRNiGR
‡ EDQiQ
‡ FLWURQĆLOLPHWND
‡ KUXåND
‡ PUNHY
‡ ĥDStNDWøFHOHU
‡ UDMĆH
‡ RNXUND
‡ SDSULND
'DOåt
3ĥLGHMWHW\WR]GUDYtSURVSĕåQpVXURYLQ\QD
GRFKXFHQtNRNWHMOX
‡ 25FP]i]YRUX
‡ 1OçtFHNRQRSQøFKVHPtQHN
‡ åSHWND1/2OçLĆN\SUiåNXFKLOOL
69/112
683(59ëæ,91ë.2.7(-/3523
)É=,
9SUĭEĕKX3Ii]HSURJUDPXVHGR
VXSHUYøçLYQøFKNRNWHMOĭSRXçtYDMtGDOåtGUXK\
OLVWRYp]HOHQLQ\=GUDYRWQt~ĆLQN\
WpWR]HOHQLQ\MVRXVNXWHĆQĕYø]QDPQpSURWR
GRXIiPHçHSĥHNRQiWHFKXīWĕFKWRQiSRMĭ
1Dåt]iVDGRXMHÅFRMHKRĥNpWRMH]GUDYp´
DOHSRNXGMHSURYiVSĥtOLåREWtçQpY\StWW\WR
NRNWHMO\]NXVWHQDKUDGLWMHGQXSRUFL
XYHGHQpOLVWRYp]HOHQLQ\MHPQĕMåt]HOHQLQRX
QDSĥtNODGPODGRXNDSXVWRXQHERåSHQiWHP
7DWRWPDYåt]HOHQLQDPiYåDNWDNYHONø
SĥtQRVSURYDåH]GUDYtçHMHUR]KRGQĕGREUp
]DĥDGLWMLGRMtGHOQtĆNX
,æLYRWDEXGLĆ
‡ 50SURSOiFKQXWpNDSXVW\
‡ 50VPĕVLRYRFH
² 1/2EURVNYHEH]SHFN\
² 1/2åiONXMDKRG
² 1/2DYRNiGD
² 10YODåVNøFKRĥHFKĭ
² 1OçtFHVHPtQHNFKLD
² 1OçtFHSORGĭJRML
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
,, %DQiQRYROHVQtNRNWHMO
‡ 50SURSOiFKQXWpNDSXVW\
‡ 50VPĕVLRYRFH
² 1/2EDQiQX
² 1/2åiONXERUĭYHN
² 10YODåVNøFKRĥHFKĭ
² 1OçLĆNDSUiåNXPDFD
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
,,, 'REtMHĆHQHUJLH
‡ 50PDQJROGX
‡ 50VPĕVLRYRFH
² 1/2EDQiQX
² 1/2QHNWDULQN\EH]SHFN\
² 10PDQGOt
² 1OçtFHNDNDRYpKRSUiåNX
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
,9 (OL[tU]GUDYpKRWUiYHQt
‡ 50RSOiFKQXWpKRPDQJROGX
‡ 50VPĕVLRYRFH
² 1/2åiONXDQDQDVX
² 1/2åiONXMDKRG
² 3SDUDRĥHFK\
² 1OçtFHNDNDRYpKRSUiåNX
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
9.DSXVWRYRDYRNiGRYøNRNWHMO
‡ 50NDSXVW\
‡ 50VPĕVLRYRFH
² 1/2DYRNiGD
² 1/2åiONXYRGQtKRPHORXQX
² 1/2åiONXERUĭYHN
² 12NHåXRĥHFKĭ
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
9, 0HORXQRYiERPED
‡ 50NDSXVW\
‡ 50VPĕVLRYRFH
² 1/2åiONXPDOLQ
² 1/2åiONXPHORXQXFDQWDORXSH
² 12NHåXRĥHFKĭ
² 2OçtFHNXVWRYQLFHJRML
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
9,, 'REtMHĆHQHUJLH
‡ 50PDQJROGX
‡ 50VPĕVLRYRFH
² 1/2EDQiQX
² 1åiOHNPDOLQ
² 10PDQGOt
² 1OçtFHNDNDRYpKRSUiåNX
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
9,,, 0DQJROGRYøPL[
‡ 50PDQJROGX
‡ 50VPĕVLRYRFH
² 1/2EDQiQX
² 1åiOHNPDOLQ
² 10PDQGOt
² 1OçtFHNDNDRYpKRSUiåNX
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
,; %RMRYQtNVYROQøPLUDGLNiO\
‡ 50PDQJROGX
‡ 50VPĕVLRYRFH
² 1DYRNiGREH]SHFN\
² 1PDOøItN
² 1/2åiONXRVWUXçLQ
² 1/2åiONXPDOLQ
² 10YODåVNøFKRĥHFKĭ
² 1OçtFHVHPtQHNFKLD
² 1OçtFHNDNDD
QDSOğWHYRGRXSR]QDĆNX0$;DH[WUDKXMWH
70/112
683(59ëæ,91e.2.7(-/<352
3 )É=,
1(%2]NRPELQXMWHQiVOHGXMtFtLQJUHGLHQFH
DY\WYRĥWHVLYODVWQtUHFHSW
/LVWRYi]HOHQLQD
1DSOğWHQiGREX]50
‡ NDSXVWRX
‡ PDQJROGHP
‡ NDGHĥDYRXNDSXVWRX
2YRFHD]HOHQLQD
1DSOğWHQiGREX]50
‡ ERUĭYNDPLRVWUXçLQDPLPDOLQDPLMDKRGDPL
KUR]QRYøPYtQHPVMDGpUN\PHORXQHP
‡ MDEON\EDQiQ\EURVNYHPLåYHVWNDPLKUXåNDPL
DYRNiGHP
‡ PDOøPLItN\PHUXğNDPLĆLQHNWDULQNDPL
9=358+<
'RSOğWHNRNWHMOMHGQRX]QiVOHGXMtFtFKY]SUXK
YXYHGHQpPPQRçVWYtNDçGøNRNWHMO
YSUĭEĕKX3Ii]HE\PĕO
REVDKRYDW1SRUFLRĥHFKĭ
‡ 10YODåVNøFKRĥHFKĭ
‡ 12NHåXRĥtåNĭ
‡ 10PDQGOt
‡ 3SDUDRĥHFK\
‡ 1OçtFHSORGĭJRML
‡ 1OçtFHGøğRYøFKVHPtQHN
‡ 1OçtFHVHPtQHNFKLD
‡ 1OçtFHOQĕQøFKVHPtQHN
‡ 1OçtFHNDNDD
‡ 1OçtFHVH]DPRYøFKVHPtQHN
‡ 1OçLĆNDSUiåNXPDFD
71/112
='5$9e69$ÿ,1<
1
=HOHQLQRYpVYDĆLQ\
$ 1DNUiMHQi]HOHQLQDVGLSHP
3RGiYHMWHGYĕSRUFH]HOHQLQ\XYHGHQpQtçHVGYĕPDOçtFHPLQtçH
XYHGHQøFKGLSĭ
=HOHQLQD
‡
‡
‡
‡
‡
‡
EDE\NDURWN\QHERRE\ĆHMQpPUNYHRORXSDQpDQDNUiMHQp
ĥDStNDWøFHOHU
QDNUiMHQiSDSULND
QDNUiMHQiRNXUND
FKHUU\UDMĆiWND
åiOHNKUDFKRYøFKOXVNĭ
'LS\
+XPPXVOçtFHSRUFH
‡
‡
‡
‡
‡
‡
2VWURXçN\ĆHVQHNX
2åiON\FL]UQ\]NRQ]HUY\SURSOiFKQXWpDRNDSDQp
1OçLĆNDPRĥVNpVROL
1/3åiONXSDVW\WDKLQL
åīiYD]2ĆHUVWYøFKFLWURQĭ
1OçtFHH[WUDSDQHQVNpKRROLYRYpKRROHMH
3ĥtSUDYD
9ORçWH YåHFKQ\LQJUHGLHQFHGRSĥtVWURMH1XWULEXOOHW0L[XMWHSRPRFt
H[WUDNĆQtFKĆHSHOtGRNXGQHQtVPĕVSURPtFKDQiDOHVWiOHPi
KUXEåtNRQ]LVWHQFL3ĥLGHMWHNRĥHQtSRGOHFKXWL
2 3ĥHVXğWHREVDKGRPLVWLĆN\DSRGiYHMWHQHERSĥLNU\MWHSODVWRYRXIyOLt
72/112
='5$9e69$ÿ,1<
'LS\
.ODVLFNpJXDFDPROHOçtFHSRUFH
‡
‡
‡
‡
‡
‡
1RORXSDQp]UDOpDYRNiGREH]SHFN\
åīiYD]1GtONXOLPHWN\
1OçtFHNRULDQGUX
1/4åiONXQDVHNDQpĆHUYHQpFLEXOH
1/2VWURXçNXĆHVQHNX
PRĥVNiVĭODSHSĥGOHFKXWL
3ĥtSUDYD
9ORçWHYåHFKQ\LQJUHGLHQFHGRSĥtVWURMH1XWULEXOOHW0L[XMWHSRPRFt
H[WUDNĆQtFKĆHSHOtGRNXGQHQtVPĕVSURPtFKDQiDOHVWiOHPiKUXEåt
NRQ]LVWHQFL
%DED*DQRXVKOçtFHSRUFH
‡
‡
‡
‡
‡
‡
‡
1/2YHONpKROLONXSHĆHQpKR
1OçtFHVH]DPRYpSDVW\WDKLQL
1OçtFHFLWURQRYpåīiY\
1VWURXçHNĆHVQHNX
åSHWNDFKLOOLSUiåNX
1OçtFHROLYRYpKRROHMH
VĭOGOHFKXWL
3ĥtSUDYD
3ĥHGHKĥHMWHWURXEXQD200ƒ&
2 3ĥHNURMWHOLOHNSRGpOQĕDSRWĥHWHREĕSRORYLQ\ROLYRYøPROHMHP3RORçWHMH
QDSOHFKVSHĆtFtPSDStUHPDSHĆWH45PLQGR]PĕNQXWt
3 1HFKWHOLOHNY\FKODGQRXWSRWpY\GODEHMWHYQLWĥN\DVPtFKHMWHMHYSĥtVWURML
1XWULEXOOHW]DSRXçLWtH[WUDNĆQtFKĆHSHOtVSDVWRXWDKLQLFLWURQRYRX
åīiYRXĆHVQHNHPDFKLOOLSUiåNHP6OXSN\PĭçHWHY\KRGLW
4 3RNDSHMWHROLYRYøPROHMHPD]QRYXUR]PL[XMWH
5 3ĥLGHMWHVĭOGOHFKXWL
73/112
'LS]FLEXOHåSHQiWXDDUW\ĆRNX
OçtFHSRUFH
‡
‡
‡
‡
‡
‡
‡
‡
1/2VWĥHGQĕYHONpFLEXOH
1VWURXçHNĆHVQHNX
3/4åiONXĆHUVWYpKRåSHQiWX
2/3NRQ]HUY\DUW\ĆRNRYøFKVUGtĆHNVOLWp
1åiOHNQt]NRWXĆQpKREtOpKRMRJXUWX
1/2OçtFHSDçLWN\
ĆHUVWYĕQDPOHWøSHSĥGOHFKXWL
PRĥVNiVĭOGOHFKXWL
3ĥtSUDYD
9QHSĥLOQDYpSiQYLUR]HKĥHMWHROLYRYøROHMSRGREX1PLQXW\3ĥLGHMWHFLEXOH
DUHVWXMWHGR]ODWRYDSĥLEOLçQĕ510PLQXW3ĥLGHMWHĆHVQHNDUHVWXMWH
1PLQXWX3ĥLGHMWHåSHQiWDUHVWXMWHGDOåt2PLQXW\1HFKWHY\FKODGQRXW
5PLQXW
2 9ORçWHGRSĥtVWURMHVPĕVåSHQiWXDFLEXOHDDUW\ĆRNRYiVUGtĆND6WLVNQĕWH
WODĆtWNRQD]DSQXWtH[WUDNĆQtFKĆHSHOt13[DE\VWHVPĕVUR]PL[RYDOL
3ĥLGHMWHMRJXUWSDçLWNXVĭODSHSĥ6WLVNQĕWHWODĆtWNR]QRYX23[DE\VH
]HOHQLQDDMRJXUWGĭNODGQĕSURPtVLO\
3 3RGiYHMWHSĥLSRNRMRYpWHSORWĕQHERGLSXORçWHGROHGQLĆN\
%6yMRYpOXVN\
9\FKXWQHMWHVL1òåiONXFHOøFKELRVyMRYøFKOXVNĭEH]REVDKX*02QHER
ôåiONXY\ORXSDQøFKOXVNĭ
74/112
='5$9e69$ÿ,1<
2ĥtåNRYpVYDĆLQ\
7\WRVYDĆLQ\MVRXFKXWQp]DV\WtDVQDGQRVHSĥHQiåt'REURXFKXī
$ 1XWULW\ĆLQN\
MHGQDW\ĆLQND MHGQDVYDĆLQD
7\ĆLQN\]RĥHFKĭDVHPtQHN
9øUREDYODVWQtÅçLYp´W\ĆLQN\]RĥHFKĭDVHPtQHNMHYHOLFHVQDGQø]SĭVRE
MDNSĥLSUDYLWODKRGQRXVYDĆLQXNWHURXVLPĭçHWHY]tWVVHERXNDPNROL
9\EHUWHVLMHGQX]QiVOHGXMtFtFKNRPELQDFtQHERVLY\WYRĥWHYODVWQtUHFHSW
‡ NHåXDPHUXğN\
‡ YODåVNpRĥHFK\DGDWOH
‡ PDQGOHDItN\
‡ SHNDQRYpRĥHFK\DåYHVWN\
‡ VH]DPRYpVHPtQNRDPHUXğN\
‡ GøğRYpVHPtQNRDGDWOH
3ĥtSUDYD
1DSOğWHPHQåtQiGREXREOtEHQøPGUXKHPRĥHFKĭSR]QDĆNX0$;
2 .UiWFHRĥHFK\UR]PL[XMWHQDPHQåtNRXVN\
3 3ĥLGHMWHMHGQRRYRFHYODVWQtKRYøEĕUX
‡ PHUXğN\²RGĥt]QĕWHNRQHĆHNDY\PiĆNQĕWHOHSNDYøVWĥHG]6VXåHQøFK
PHUXQĕN
‡ GDWOH²RGĥt]QĕWHNRQHĆHNDRGVWUDğWHSHFNXSRWpY\PiĆNQĕWHOHSNDYø
VWĥHG]H46GDWOt
‡ ItN\²Y\GODEHMWHGXçLQX]23]UDOøFKItNĭ
‡ åYHVWN\²RGĥt]QĕWHNRQHĆHNDY\PDĆNHMWHOHSNDYøVWĥHG]H4åYHVWHN
4 3URPtFKHMWHYåHFKQ\LQJUHGLHQFHYPHQåtQiGREĕSRPRFtOçtFH
5 1DEHUWHYçG\KUVWVPĕVL]QiGRE\DY\WYDUXMWH]QtREGpOQtNRYLWRXW\ĆLQNX
=DEDOWHMHGQRWOLYpW\ĆLQN\GRIyOLH
3R]QiPND²QĕNG\MHVQD]åtXSUDYLWWYDUW\ĆLQN\MDNPLOHMHVPĕVMLç
]DEDOHQDYHIyOLL3RXçLMWHSUDFRYQtSORFKXNXKOD]HQtYåHFKĆW\ĥVWUDQ
DNRQFĭ
75/112
7\ĆLQN\]PDQGOtNDNDDDJRML
‡
‡
‡
‡
‡
PDQGOH
ItN\
NDNDRYpERE\
SORG\NXVWRYQLFHJRML
NDNDRYøSUiåHN
3ĥtSUDYD
1DSOğWHPHQåtQiGREXPDQGOHPLSR]QDĆNX0$;0DQGOHNUiWFHUR]PL[XMWH
2
3
4
5
7
QDPHQåtNRXVN\
1DV\SWHNRXVN\PDQGOtGRPtV\
9\GODEHMWHGXçLQX]HWĥt]UDOøFKItNĭ
3ĥLGHMWHGUFHQpNDNDRYpERE\SĥLEOLçQĕ1/4åiONX
3ĥLGHMWHSORG\JRMLSĥLEOLçQĕ1/4åiONX
3ĥLGHMWH1OçtFLNDNDRYpKRSUiåNX
1DEHUWHYçG\KUVWVPĕVL]QiGRE\DY\WYDUXMWHREGpOQtNRYRXW\ĆLQNX
=DEDOWHMHGQRWOLYpW\ĆLQN\GRIyOLH
3R]QiPND²QĕNG\MHVQD]åtXSUDYLWWYDUW\ĆLQN\MDNPLOHMHVPĕVMLç
]DEDOHQDYHIyOLL3RXçLMWHSUDFRYQtSORFKXNXKOD]HQtYåHFKĆW\ĥVWUDQ
DNRQFĭ
%6PĕVQDFHVWX
9\WYRĥWHVLYODVWQtHQHUJHWLFNRXVPĕV]H14NHåXRĥHFKĭPDQGOtSLVWiFLt
QHERYODåVNøFKRĥHFKĭD1OçtFHQHSĥLVOD]RYDQpKRVXåHQpKRRYRFH
&9\UREWHVLRĥHFKRYpPiVOR
9\FKXWQHMWHVLFHOHURYpĆLPUNYRYpW\ĆLQN\NRXVN\MDEOHNKUXåHNQHER
EDQiQXV1OçtFtPiVOD]NHåXRĥtåNĭPDQGOtYODåVNøFKRĥHFKĭQHER
SHNDQRYøFKRĥHFKĭ
76/112
683(532/e9.<
/DKRGQpSROpYN\NHNDçGpPXREĕGX
*D]SDFKR]UDMĆDWDPHORXQX
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
óPDOpKRYRGQtKRPHORXQXRORXSDQøDQDNUiMHQøQDNRXVN\
23YHONiPDVLWiUDMĆDWDQDNUiMHQiQDNRXVN\
1ELRRNXUNDQDNUiMHQiQDNRXVN\
óVYD]HĆHNSHWUçHON\RĆLåWĕQøDQDKUXERQDVHNDQø
óVYD]HĆHNNRULDQGUXRĆLåWĕQøDQDKUXERQDVHNDQø
òSDSULĆN\MDODSHxREH]VHPtQHNQDNUiMHQiQDNRXVN\
òOUDMĆDWRYpåīiY\
4NDSN\SiOLYpRPiĆN\
1òOçtFHYLQQpKRRFWX6KHUU\
åīiYD]òOLPHWN\
òOçLĆN\GLMRQVNpKRĥĆLFH
òDYRNiGDQDNUiMHQpKRQDNRVWLĆN\YROLWHOQp
VĭODĆHUVWYĕQDPOHWøSHSĥ
3ĥtSUDYD
6PtFKHMWHYåHFKQ\QDNUiMHQpLQJUHGLHQFHYHYHONpVNOHQĕQpPtVH1DOLMWHQD
QĕYåHFKQ\XYHGHQpWHNXWLQ\DRFKXīWHVROtDSHSĥHP1HFKWHVPĕVXOHçHW
PLQLPiOQĕQĕNROLNKRGLQSRWpMLSĥHOLMWHGRY\VRNpQiGRE\SĥtVWURMH
SRXçLMWHH[WUDNĆQtĆHSHOHDPL[XMWHGRNXGVPĕVQH]tVNiSRçDGRYDQRX
NRQ]LVWHQFL3ĥHGSRGiYiQtPQHFKWHSROpYNXY\FKODGLW
1DR]GREXPĭçHWHSRXçtWQDNUiMHQpDYRNiGR
77/112
'øğRYiSROpYND
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
1OçtFHROLYRYpKRROHMH
2åiON\QDVHNDQpFLEXOH
2OçtFHFHOR]UQQpPRXN\
4OçtFHQt]NRWXĆQpKR]HOHQLQRYpKRYøYDUXVQt]NøPREVDKHPVRGtNX
3åiON\GøğRYpKRS\Up
òOçLĆN\QDMHPQRQDVHNDQpKRĆHVQHNX
òNRQ]HUY\ĆHUQøFKID]ROt
òOçLĆN\POHWpKRNPtQXNXPtQ
óOçLĆN\VROL
óOçLĆN\POHWpKREtOpKRSHSĥH
PXåNiWRYøRĥtåHN
3ĥtSUDYD
2VPDKQĕWHFLEXOLGR]ODWRYDQDROLYRYpPROHMLQDVWĥHGQtPSODPHQL
2 3RV\SWHMLPRXNRXDUHVWXMWH]DVWiOpKRPtFKiQtSRGREX2PLQXWQHER
GRNXGVPĕVOHKFHQH]KRXVWQH=DVWiOpKRPtFKiQtSĥLGHMWHYøYDUSRWpGøQL
ĆHVQHNNPtQVĭODSHSĥ3ĥLYHĐWHSROpYNXNYDUXDYDĥWHSRGREX15PLQXW
]DREĆDVQpKRPtFKiQtDE\VHSROpYNDQHSĥLSiOLOD3ĥLGHMWHID]ROHDYDĥWHSR
GREX15PLQXW]DREĆDVQpKRPtFKiQtDE\VHSROpYNDQHSĥLSiOLOD
78/112
683(532/e9.<
3ROpYND]KQĕGpUøçHKUiåNXD]i]YRUX
‡
‡
‡
‡
‡
‡
‡
2åiON\PUDçHQpKRKUiåNXQHUR]PUD]XMWHKRSĥHGHP
11/2åiONX]HOHQLQRYpKRYøYDUXVQt]NøPREVDKHPVRGtNX
1OçtFH]HOHQpFLEXON\
1OçLĆNDSDVW\PLVR
11/2OçLĆN\QDKUXERQDVHNDQpKR]i]YRUX
10OtVWNĭQDKUXERQDVHNDQpED]DON\
1/2åiONXYDĥHQpWPDYpUøçH
3ĥtSU$Y$
1DVWĥHGQtPSODPHQLRKĥHMWHYKUQFLKUiåHN3ĥLNU\MWHSRNOLĆNRX
DSĥLYHĐWHNYDUXGRNXGQH]PĕNQH
2 3ĥLGHMWHYåHFKQ\]E\OpLQJUHGLHQFHNURPĕUøçH2KĥHMWHVPĕVSRGREX
1PLQXW\DRGVWDYWH]SORWQ\
3 1HFKWHVPĕV]FHODY\FKODGQRXWDSRWpMLRSDWUQĕSĥHOLMWHGRSĥtVWURMH
1XWULEXOOHW0L[XMWHSRPRFtH[WUDNĆQtFKĆHSHOtGRKODGND3ĥLKĥHMWH
SROpYNXDQDOLMWHMLQDXYDĥHQRXKQĕGRXUøçLYKOXERNpPWDOtĥLĆLPLVFH
9(;75$.72581875,%8//(71,.'<1(0,;8-7(7(3/e+25.e7(.87,1<
35272æ(7Ì00Ĭæ(7(3ĤÌ6752-32ä.2',79æ'<0,;8-7(328=(
9<&+/$=(1e3275$9,1<1(%268529,1<232.2-29e7(3/27Ĕ
5DMĆDWRYiSROpYND
‡
‡
‡
‡
‡
‡
‡
4åiON\QHER2NRQ]HUY\ELRUDMĆDW
1åiOHNYRG\ĆL]HOHQLQRYpKRYøYDUX
1FLEXOH
5VWURXçNĭĆHVQHNX
2VWĥHGQĕYHONpVODGNpEUDPERU\RORXSDQpDQDVHNDQp
1Dç2KUVWLNHåXRĥtåNĭ
VĭODSHSĥGOHFKXWL
3ĥtSUDYD
1DOLMWHUDMĆDWDDYRGXĆLYøYDUGRKUQFHDSĥLYHĐWHNYDUX3ĥLGHMWHFLEXOL
VODGNpEUDPERU\DĆHVQHN
2 -DNPLOHVHVPĕVYDĥtVQLçWHSODPHQDYDĥWHGDOåtFK1015PLQXWGRNXG
QHMVRXEUDPERU\XYDĥHQp
3 6XQGHMWHKUQHF]SORWQ\DQHFKWHKRY\FKODGQRXW1015PLQXW3ĥLGHMWH
GRSĥtVWURMH1XWULEXOOHWXYDĥHQRXVPĕVDNHåXRĥtåN\DUR]PL[XMWHYåH]D
SRPRFLH[WUDNĆQtFKĆHSHOtGRKODGND
79/112
7\NYRYiSROpYND
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
1OçtFHROLYRYpKRROHMH
1åiOHNQDVHNDQpFLEXOH
1VWĥHGQĕYHONpMDEONRRORXSDQpEH]MDGĥLQFHQDNUiMHQpQDNRXVN\
1NJW\NYHRORXSDQpEH]VHPtQHNQDNUiMHQpQDNRXVN\
4åiON\]HOHQLQRYpKRYøYDUX
1OçLĆNDNDULSUiåNX
1W\ĆLQNDVNRĥLFHQHERåSHWNDPOHWpVNRĥLFH
ôåiONXQHVOD]HQpKRNRNRVRYpKRPOpNDYROLWHOQp
VĭO
ĆHUVWYĕQDPOHWøSHSĥ
3ĥtSUDYD
2VPDKQĕWHFLEXOLĆHVQHNDMDEONDGR]ODWRYDQDROLYRYpPROHMLQDVWĥHGQtP
SODPHQL
2 3ĥLGHMWHYåHFKQ\LQJUHGLHQFHNURPĕNRNRVRYpKRPOpNDVROLDSHSĥH
3ĥLNORSWHSRNOLĆNRXDYDĥWHQDPtUQpPSODPHQL20Dç25PLQXWGRNXGW\NHY
QH]PĕNQH
3 6XQGHMWH]SORWQ\Y\QGHMWHVNRĥLFRYRXW\ĆLQNXDGHMWHVPĕVY\FKODGLW
QHMPpQĕ30PLQXWDE\VWHMLPRKOLUR]PL[RYDW
4 3RY\FKODGQXWtQDOLMWHW\NYRYRXVPĕVGRSĥtVWURMH1XWULEXOOHWDPL[XMWH
SRPRFtH[WUDNĆQtFKĆHSHOtGRKODGND
5 3ĥHGSRGiYiQtPSROpYNX]QRYXSĥHOLMWHGRKUQFHSĥLGHMWHNRNRVRYpPOpNR
DRKĥHMWH3ĥLGHMWHVĭODSHSĥGOHFKXWL
80/112
683(532/e9.<
=HOHQLQRYRID]RORYiSROpYNDSRUFt
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
2
3
4
5
1/2OçtFHROLYRYpKRROHMH
]HOHQLQRYøYøYDU
1åiOHNçDPSLRQĭQDNUiMHQøFKQDSOiWN\
2PUNYHQDNUiMHQpQDNRVWLĆN\
1YHONiFLEXOHQDNUiMHQiQDNRVWLĆN\
2ĥDStNDWpFHOHU\QDNUiMHQpQDNRVWLĆN\
1W\NHYĆLFXNHWDQDNUiMHQiQDNRVWLĆN\
4QDMHPQRQDVHNDQpVWURXçN\ĆHVQHNX
1OçtFHĆHUVWYpED]DON\
1OçLĆNDVXåHQpKRW\PLiQX
åSHWNDSiOLYpSDSULN\
1KUVWQDVHNDQpNDSXVW\NDGHĥDYpNDSXVW\QHERPDQJROGXEH]NRåīiOX
KRGtVHQDVXSHUYøçLYQøNRNWHMO
2åiON\UDMĆDWQDNUiMHQøFKQDNRVWLĆN\
1åiOHN]HOHQLQRYpKRYøYDUX
2åiON\EtOøFKID]ROt]NRQ]HUY\
VĭODĆHUVWYĕQDPOHWøSHSĥGOHFKXWL
3ĥtSUDYD
5R]SDOWHROHMYHYHONpPKUQFLQDVWĥHGQtPSODPHQL3ĥLGHMWHKRXE\
FLEXOHPUNYHFHOHUDFXNHWX/W\NHY9DĥWH]DREĆDVQpKRPtFKiQt5Dç6
PLQXW3RNXGVH]HOHQLQD]DĆQHSĥLFK\WiYDWNHGQXKUQFHSĥLOLMWHWURFKX
]HOHQLQRYpKRYøYDUX
3ĥLGHMWHĆHVQHNED]DONXW\PLiQDSiOLYRXSDSULNXDYDĥWH]DĆDVWpKR
PtFKiQt1PLQXWX
3ĥLGHMWHNDSXVWXĆLPDQJROGDYDĥWH]DĆDVWpKRPtFKiQt
3ĥLGHMWHUDMĆDWDYøYDUDID]ROHD]DPtFKHMWH3RNXGMHVPĕVSĥtOLåKXVWi
SĥLGHMWH1åiOHNYRG\
3ĥLYHĐWHNYDUXVQLçWHSODPHQDMHPQĕYDĥWHSRGREX20PLQXW]D
REĆDVQpKRPtFKiQt2FKXīWHSROpYNXVROtDSHSĥHP
81/112
:(//1(66:5$3<
$6(1'9,ÿ(
9øERUQpZUDS\DVHQGYLĆH
NHNDçGpPXREĕGX
:UDS]TXLQR\DFKĥHVWXSRUFH
‡
‡
‡
‡
‡
‡
‡
‡
2
3
4
5
7
2FHOR]UQQpWRUWLO\
1åiOHNYDĥHQpTXLQR\
10W\ĆLQHNFKĥHVWXSĥLSUDYHQøFKYSiĥH
1/4åiONXUDMĆDWQDNRVWLĆN\
1KUVWNOtĆNĭDOIDOIDQHERVOXQHĆQLFRYøFKYøKRQNĭ
1FLWURQ
1OçtFHYHJDQVNpPDMRQp]\
SHSĥ
3ĥtSUDYD
8YDĥWHTXLQRXSRGOHQiYRGXQDREDOXD]DPtFKHMWHGRQtYHJDQVNRX
PDMRQp]XDåīiYX]MHGQRKRFLWURQX
5R]ORçWHVLWRUWLO\QDKODGNpPSRYUFKX
3RWĥHWHWRUWLO\TXLQRRYRXVPĕVt
1DNDçGRXWRUWLOXSRORçWH5W\ĆLQHNFKĥHVWX
3ĥLGHMWHUDMĆDWDDYøKRQN\
=DEDOWHWRUWLO\
'REURXFKXī
9HJHWDULiQVNøVHQGYLĆ
‡
‡
‡
‡
‡
‡
2SOiWN\FKOHEXVNOtĆN\DQt]NøPREVDKHPVRGtNX
GRPiFtKXPPXV
QDNUiMHQiRNXUND
QDNUiMHQpUDMĆH
QDNUiMHQiĆHUYHQiFLEXOHYROLWHOQp
10åSHQiWRYøFKOLVWĭQHERMLQiOLVWRYi]HOHQLQD
3ĥtSUDYD
3ĥLSUDYWHVLODKRGQøVHQGYLĆWDNçHFKOpESRWĥHWHKXPPXVHPDQDQĕM
SRORçtWHSOiWN\]HOHQLQ\'REURXFKXī
3R]QiPND²KXPPXVPĭçHWHWDNpQDKUDGLWMLQøPGLSHP]HVWUDQ
D]tVNDWWDNGDOåtYDULDQWXSRNUPX
82/112
:(//1(66:5$3<
$6(1'9,ÿ(
:UDS]OLONXDSDSULN\
‡
‡
‡
‡
‡
‡
‡
‡
‡
2
3
4
1FHOR]UQQiWRUWLOD
2OçtFHGRPiFtKRGLSX%DED*DQRXVK
KUVWSURSOiFKQXWpUXNRO\
1/2V\URYpĆHUYHQpSDSULN\QDNUiMHQpQDWHQNpSURXçN\
óDYRNiGD
NRXVHNĆHUYHQpFLEXOHQDNUiMHQpQDWHQNpSOiWN\
1/4FLWURQX
QHORXSDQiVH]DPRYiVHPtQND
SHSĥ
3ĥtSUDYD
5R]ORçWHVLWRUWLOXQDKODGNpPSRYUFKX
3RWĥHWHWRUWLOXGLSHP%DED*DQRXVK
5R]ORçWHQDWRUWLOXUXNROXSDSULNXDYRNiGRDFLEXOL
3RNDSHMWHWRUWLOXQĕNROLNDNDSNDPLFLWURQXDRGVWUDğWHVHPtQND
SRNXGQDQtQĕMDNiVSDGOD
5 2FKXīWHWRUWLOXVH]DPRYøPLVHPtQN\DSHSĥHP
=DEDOWHWRUWLOX
7 'REURXFKXī
3R]QiPND²GLS%DED*DQRXVKPĭçHWHWDNpQDKUDGLWMLQøPGLSHP
D]tVNDWWDNGDOåtYDULDQWXSRNUPX
83/112
:UDSSOQø]HOHQpKR]GUDYt
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
2
3
4
5
7
1FHOR]UQQiWRUWLOD
2OçtFHGRPiFtKRKXPPXVXQHERGLSX%DED*DQRXVK
1VWĥHGQĕYHONøOLVWNDSXVW\ĆLPDQJROGX
òĆHUVWYp]HOHQpFKLOLSDSULĆN\6HUUDQRQDNUiMHQpQDPDOpNRXVN\
QDNUiMHQiRNXUND
QDNUiMHQpUDMĆH
QDVWURXKDQiPUNHY
óDYRNiGD
1OçtFHSĥtURGQtVDOV\YHUGH
QHORXSDQiVH]DPRYiVHPtQND
SHSĥ
3ĥtSUDYD
5R]ORçWHVLWRUWLOXQDKODGNpPSRYUFKX
3RWĥHWHMLKXPPXVHPGLSHPEDEDJDQRXVKQHERJXDFDPROH]H
]HOHQpKRKUiåNX
2EORçWHWRUWLOXNDSXVWRX/PDQJROGHPFKLOOLSDSULĆNRX
RNXUNRXUDMĆHWHPPUNYtDDYRNiGHP
3ĥHOLMWHMLVDOVRX
2FKXīWHWRUWLOXVH]DPRYøPLVHPtQN\DSHSĥHP
=DEDOWHWRUWLOX
'REURXFKXī
84/112
:(//1(66:5$3<
$6(1'9,ÿ(
:HOOQHVVVXVKLDçNRXVNĭ
9\]NRXåHMWHVNYĕORXNRPELQDFLYøçLYQpĥDV\1RULDV\URYp]HOHQLQ\
1HQHFKWHVHRGUDGLWSRNXGQHMVRXYDåHURON\GRNRQDOpątPYtFHMLFK
SĥLSUDYtWHWtPYiPWRSĭMGHOpSH1DYtFKQĕGiUøçH]HOHQLQDDPRĥVNp
ĥDV\FKXWQDMtVNYĕOHYMDNpPNROLWYDUX
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
1/4QDVWURXKDQpPUNYH
1/2åiONXåSHQiWXQHERPtFKDQpOLVWRYp]HOHQLQ\
1/2DYRNiGDQDNUiMHQpKRQDSRGORXKOpW\ĆLQN\
1/4RNXUN\QDNUiMHQpQDW\ĆLQN\
1/4QDVWURXKDQpPUNYHQHERQDNUiMHQpQDW\ĆLQN\
2/3åiONXOHSNDYpKQĕGpUøçHYL]QtçH
1/4åiONXNOtĆNĭDOIDOIDQHERVOXQHĆQLFRYøFKYøKRQNĭ
1YHONøSOiWĥDV\1RUL
QHORXSDQiVH]DPRYiVHPtQND
SOiWN\]i]YRUXDZDVDELQDR]GREX
1/4åiONXVRMRYpRPiĆN\
3ĥtSUDYD
8YDĥWH3åiON\KQĕGpUøçHSRGOHQiYRGXDOHSĥLGHMWHQDYtFMHGHQåiOHN
YRG\DE\E\ODUøçHVSUiYQĕOHSNDYi
2 5R]ORçWHĥDVX1RULQDWYUGpPKODGNpPSRYUFKX
3 5R]SURVWĥHWHôåiONXQHERPpQĕOHSNDYpUøçHQDSOiWĥDV\YWHQNpYUVWYĕ
3RQHFKWHVLDOHVSRğ05FPRNUDMHEH]UøçH
4 3RORçWH]HOHQLQRYpSURXçN\NRNUDMLĥDV\WDNDE\]DEtUDO\PD[LPiOQĕó
FHOpKRSOiWX
5 6UROXMWHĥDVXSHYQĕDOHQHSĥtOLåDE\VHQHSROiPDOD
1DPRĆWHVLSUVWYHVWXGHQpYRGĕDSĥHMHĐWHMtPSRRNUDMLĥDV\DE\XVHEH
RNUDMHURON\GUçHO\
7 1DNUiMHMWHURONXRVWUøPQRçHPQD6DçNRXVNĭ
3RGiYHMWHVXVKLVH]i]YRUHPDZDVDELDSRGOHFKXWLVLVXVKLQDPiĆHMWHGR
]GUDYpVRMRYpRPiĆN\
85/112
2%,/29,129e3ĕÌ/2+<
9øERUQpSĥtORK\NMDNpPXNROLREĕGX
6DOiW]GLYRNpUøçHĆRĆN\DUXNRO\
‡
‡
‡
‡
‡
‡
‡
‡
‡
2
3
4
5
7
2åiON\YDĥHQpGLYRNpUøçH
2åiON\YDĥHQpĆRĆN\
1/4åiONXROLYRYpKRROHMH
12VWURXçN\ĆHVQHNX
ĆHUVWYøW\PLiQYROLWHOQø
2FLWURQ\
2åiON\ELRUXNRO\
2UDMĆDWD
ĆHUVWYiåDOYĕMYROLWHOQp
3ĥtSUDYD
8YDĥWHDGHMWHY\FKODGLW2åiON\GLYRNpUøçH
8YDĥWHDGHMWHY\FKODGLW2åiON\ĆRĆN\
6PtFKHMWHUøçLDĆRĆNXYPtVH
([WUDKXMWHóåiONXROLYRYpKRROHMHåīiYX]2FLWURQĭ12VWURXçN\ĆHVQHNX
DĆHUVWYRXåDOYĕMYPHQåtQiGREĕGRNXGVHYåHFKQ\LQJUHGLHQFHQHSURPtVt
1DOLMWHVPĕVQDUøçLDĆRĆNX
3ĥLGHMWH2åiON\ĆHUVWYpUXNRO\
3ĥLGHMWH1åiOHNQDVHNDQøFKUDMĆDW
3RGiYHMWHFKOD]HQpĆLWHSOp3RNXGSRGiYiWHVDOiWWHSOøSRORçWHUøçL
DĆRĆNXQDUXNROXDQD]iYĕUYåHSĥHOLMWHSĥLSUDYHQøPGUHVLQNHP
86/112
2%,/29,129e3ĕÌ/2+<
4XLQRRYiÅQiGLYND´
‡
‡
‡
‡
‡
2åiON\YDĥHQpTXLQR\
3ĥDStNDWpFHOHU\
2PUNYH
åSHWNDPRĥVNpVROL
VXåHQpEUXVLQN\
3ĥtSUDYD
3ĥLSUDYWH2åiON\TXLQR\SRGOHQiYRGXQDREDOXDMHåWĕWHSORXTXLQRX
2
3
4
5
QDV\SWHGRPtV\
1DVHNHMWHĥDStNDWøFHOHUQDNRXVN\DSĥLGHMWHKRGRPtV\
1DVHNHMWHGYĕPUNYHQDNRXVN\DSĥLGHMWHMHGRPtV\
3ĥLGHMWHGRPtV\óåiONXQHERYtFHVXåHQøFKEUXVLQHN
3RV\SWHYåHKLPDOiMVNRXPRĥVNRXVROtDSRGiYHMWH
$OWHUQDWLYD=LPQtYDULDQWXSRNUPXSĥLSUDYtWHWDNçHYORçtWHYåHFKQ\
VXURYLQ\GR]DSpNDFtPtV\DSHĆHWHQD10VWXSğĭ25PLQXW
$UDEVNøVDOiW7DERXOHK]TXLQR\
‡
‡
‡
‡
‡
‡
‡
‡
2åiON\YDĥHQpTXLQR\
1/2VWĥHGQĕYHONpFLEXOHQDVHNDQpQDMHPQR
2VWURXçN\ĆHVQHNXUR]GUFHQp
2åiON\ĆHUVWYpSHWUçHON\
1QDVHNDQpVWĥHGQĕYHONpUDMĆH
3OçtFHH[WUDSDQHQVNpKRROLYRYpKRROHMH
1OçtFHĆHUVWYpFLWURQRYpåīiY\
PRĥVNiVĭODSHSĥGOHFKXWL
3ĥtSUDYD
9ORçWHGRPtV\2åiON\XYDĥHQpTXLQR\
2 9ORçWHFLEXOLĆHVQHNSHWUçHONXDUDMĆHGRPHQåtQiGRE\SĥtVWURMH
1XWULEXOOHWDPL[XMWHGRNXGQHMVRXYåHFKQ\VXURYLQ\QDVHNDQp/UR]HPOHWp
3 3ĥHOLMWHTXLQRXUR]PL[RYDQRXVPĕVt
4 3ĥLGHMWHROLYRYøROHMFLWURQRYRXåīiYXVĭODSHSĥDSURPtFKHMWH
5 'HMWHVDOiWY\FKODGLW
87/112
%UDPERURYR]HOHQLQRYøVDOiW
‡
‡
‡
‡
‡
‡
‡
‡
‡
2
3
4
5
7
9
24PDOøFKĆHUYHQøFKEUDPERU
2NXNXĥLĆQpNODV\
3ĥDStNDWpFHOHU\
2PUNYH
1çOXWiSDSULND
1/4åiONXROLYRYpKRROHMH
1/4åiONXEDO]DPLNRYpKRRFWD
12VWURXçN\ĆHVQHNX
2VQtWN\ĆHUVWYpKRW\PLiQX
3ĥtSUDYD
8YDĥWHYSiĥH24PDOøFKĆHUYHQøFKEUDPERUD2NXNXĥLĆQpNODV\GRPĕNND
1HFKWHNXNXĥLFLY\FKODGQRXWDRGNURMWH]UQtĆNDNXNXĥLFHSĥtPR]NODVXGR
PtV\
1HFKWHEUDPERU\Y\FKODGQRXWQDNUiMHMWHMHQDĆWYUWN\DYORçWHMHGRPtV\
1DVHNHMWHĥDStNDWøFHOHUQDNRXVN\DSĥLGHMWHKRGRPtV\
1DVHNHMWHGYĕPUNYHQDNRXVN\DSĥLGHMWHMHGRPtV\
1DVHNHMWHMHGQXçOXWRXSDSULNXQDNRXVN\DSĥLGHMWHMLGRPtV\
'RPHQåtQiGRE\SĥtVWURMH1XWULEXOOHWYORçWHóåiONXROLYRYpKRROHMHó
åiONXEDO]DPLNRYpKRRFWD12VWURXçN\ĆHVQHNXD2VQtWN\ĆHUVWYpKR
W\PLiQX0L[XMWHGRKODGND
3ĥHOLMWHQDNUiMHQpVXURYLQ\UR]PL[RYDQRXVPĕVtDSURPtFKHMWH
1HFKWHY\FKODGLW
9
88/112
2%,/29,129e3ĕÌ/2+<
0H[LFNiVPĕV
‡
‡
‡
‡
‡
‡
‡
‡
2åiON\KQĕGpUøçH
1NRQ]HUYDĆHUQøFKID]ROt
1VWURXçHNĆHVQHNXYROLWHOQp
10FKHUU\UDMĆiWHN
1/4PDOpFLEXOH
4VQtWN\NRULDQGUX
1SDSULĆNDMDODSHxR
1/4DYRNiGD
3ĥtSUDYD
8YDĥWHGYDåiON\KQĕGpUøçH
2 2KĥHMWHĆHUQpID]ROHVSROXV1UR]GUFHQøPVWURXçNHPĆHVQHNX
3 9ORçWH10FKHUU\UDMĆiWHNóPDOpFLEXOH4VQtWN\NRULDQGUXSDSULĆNX
MDODSHQRYROLWHOQpDåīiYX]1OLPHWN\GRPHQåtQiGRE\SĥtVWURMH
1XWULEXOOHWDUR]PL[XMWHQDRPiĆNX
4 9PLVFHY\WYRĥWHYUVWYXKQĕGpUøçHQDQLUR]ORçWHID]ROHDQDNRQHFYåH
SĥHOLMWHVDOVRX
5 2]GREWHSRNUPDYRNiGHPQDNUiMHQøPQDSOiWN\QHERYUVWYRX
JXDFDPROHYL]V
3RGiYHMWH
3R]QiPND²DYRNiGRDJXDFDPROHQDY]GXFKXYHOPLEU]\]KQĕGQRX
3ĥLGHMWHDYRNiGRDçQD~SOQø]iYĕUDSRNDSHMWHKROLPHWNRYRXåīiYRXDE\
VLXFKRYDOR]HOHQRXEDUYX
89/112
&L]UQRYøOHWQtVDOiW
&L]UQDVLFHQHQtRELORYLQDDOHMHGQiVHRVORçHQøåNURESURWRML]DĥD]XMHPH
PH]LW\WRSRWUDYLQ\9\FKXWQHMWHVLWHQWRODKRGQøUHFHSWVWHMQĕMDNRRVWDWQt
RELOQLQRYpSĥtORK\
‡ 1NRQ]HUYDFL]UQ\
‡ 2YHONiUDMĆDWDQHER20FKHUU\UDMĆDW
‡ 5ĥDStNDWøFKFHOHUĭ
‡ 1/4åiONXROLYRYpKRROHMH
‡ 12VWURXçN\ĆHVQHNX
‡ ĆHUVWYøW\PLiQYROLWHOQø
‡ 2FLWURQ\
2
3
4
5
7
3ĥtSUDYD
1DVHNHMWHĥDStNDWøFHOHUQDNRXVN\DSĥLGHMWHKRGRPtV\
1DVHNHMWH2UDMĆDWDQHER20FKHUU\UDMĆiWHNGRPtV\
6OLMWHYRGX]FL]UQ\DSĥLGHMWHMLGRPtV\
([WUDKXMWHóåiONXROLYRYpKRROHMHåīiYX]2FLWURQĭ12VWURXçN\ĆHVQHNX
DĆHUVWYøW\PLiQYPHQåtQiGREĕGRNXGVHYåHFKQ\LQJUHGLHQFHQHSURPtVt
3ĥHOLMWHQDNUiMHQpVXURYLQ\UR]PL[RYDQRXVPĕVt
3RV\SWHYåHKLPDOiMVNRXPRĥVNRXVROt
3RGiYHMWHQHERQHFKWHY\FKODGLWYOHGQLĆFH
3R]QiPND²GRWRKRWRUHFHSWXPĭçHWHSĥLGDWLGDOåt]HOHQLQXQDSĥ
ĆHUYHQRXSDSULNXQHERDUW\ĆRN
90/112
2%,/29,129e3ĕÌ/2+<
5L]RWRVPDQJROGHPDSLQLRYøPLRĥtåN\
7HQWRSRNUPPiWURFKXGHOåtGREXSĥtSUDY\DWDNpQDQĕMSRWĥHEXMHWHYtFH
QiGREtDOHGtN\VYp~çDVQpFKXWLDYøçLYRYøPKRGQRWiPXUĆLWĕVWRMt]D
Y\QDORçHQøĆDVD~VLOt
‡ 1OLWU]HOHQLQRYpKRYøYDUX
‡ 5åiONĭYRG\
‡ 1/4åiONXSLQLRYøFKRĥtåNĭ
‡ 2OçtFHROLYRYpKRROHMH
‡ 1åiOHNQDMHPQRQDVHNDQpFLEXOH
‡ 2VWURXçN\ĆHVQHNXQDVHNDQpQDMHPQR
‡ 2åiON\QHYDĥHQpNUiWNR]UQpUøçH
‡ 4åiON\QDKUXERQDVHNDQøFKPDQJROGRYøFKOLVWĭDVLMHGQDKUVW
‡ VĭODSHSĥGOHFKXWL
3ĥtSUDYD
6PtFKHMWHYøYDUDYRGXDYDĥWHQDPtUQpPRKQLYHYHONpPKUQFL3ĥLNORSWH
SRNOLĆNRXDSRNUDĆXMWHYHYDĥHQt
2 2SUDçWHSLQLRYpRĥtåN\QDVXFKRQDVWĥHGQtPSODPHQLąDVWRMHPtFKHMWH
3
4
5
DE\VHQHSĥLSiOLO\-DNPLOH]DĆQRXKQĕGQRXWDYRQĕWRGVWDYWHSiQHY
]SORWQ\3ĥHV\SWHRĥtåN\QDWDOtĥDE\Y\FKODGO\
5R]SDOWHROHMYHVWĥHGQĕYHONpPKUQFLQDVWĥHGQtPSODPHQL3ĥLGHMWHFLEXOL
DĆHVQHNDUHVWXMWHMHGRPĕNND]DREĆDVQpKRPtFKiQtSĥLEOLçQĕ45PLQXW
3ĥLGHMWHQHYDĥHQRXUøçLDPDQJROGDMHPQĕ]DPtFKHMWHGRNXGQHEXGHUøçH
RSUDçHQiDYRğDYiDPDQJROG]PĕNOøSĥLEOLçQĕ4Dç5PLQXW
3ĥLGHMWH1åiOHNVPĕVLYRG\DYøYDUXDYDĥWHQDPtUQpPSODPHQL]DVWiOpKR
PtFKiQt9DĥWHGRNXGVHQHYViNQHWpPĕĥYåHFKQDWHNXWLQD2SDNXMWHWHQWR
SRVWXSYçG\SĥLGHMWHSĥLEOLçQĕ1/2åiONXVPĕVLYRG\DYøYDUXGRNXGQHQt
UøçHPĕNNiSĥLEOLçQĕ35PLQXW
2NRĥHğWHGOHFKXWLSĥHVXğWHGRVWĥHGQĕYHONpPLVN\DR]GREWHSUDçHQøPL
SLQLRYøPLRĥtåN\
'REURXFKXī
91/112
%DWiWRYpSODFN\SRUFH
9\FKXWQHMWHVLWXWRSHĆHQRXYHU]LEUDPERURYøFKSODFHN
‡ 3VWĥHGQĕYHONpEDWiW\VODGNpEUDPERU\RORXSDQpDQDKUXERQDVWURXKDQp
‡ 1/2FLEXOH
‡ 1/2åiONX100MDEOHĆQpKRS\UpEH]VODGLGHO]DKXåīRYDGHODWG
‡ 4OçtFHFHOR]UQQpPRXN\
‡ 1OçLĆNDN\SĥtFtKRSUiåNX
‡ 1/2OçLĆN\VROL
‡ 1/4OçLĆN\ĆHUQpKRSHSĥH
2
3
4
5
3ĥtSUDYD
3ĥHGHKĥHMWHWURXEXQD200ƒ&
/HKFHSRWĥHWHSOHFKROLYRYøPQHERNRNRVRYøPROHMHP
'RYHONpPtV\QDVWURXKHMWHEUDPERU\DFLEXOH3ĥLGHMWHMDEOHĆQpS\Up
PRXNXN\SĥtFtSUiåHNVĭODSHSĥDSURPtFKHMWHUXNRX
9\WYDUXMWH]HVPĕVLNXODWpSODFLĆN\RSUĭPĕUXSĥLEOLçQĕFPDUR]ORçWHMH
QDSOHFK
3HĆWH20PLQXWREUDīWHDSHĆWH]GUXKpVWUDQ\GDOåtFK20PLQXWGR]ODWRYD
3RGiYHMWHVMDEOHĆQøPS\UpDQDVWURXKDQøPNĥHQHP
92/112
='5$9e3ĕÌ/2+29e6$/É7<
2NXUNRYøVDOiW
‡
‡
‡
‡
‡
2VNOHQtNRYpQHER4EĕçQpRNXUN\
1PDOiĆHUYHQiFLEXOH
1/2åiONXMDEOHĆQpKRRFWX
åSHWNDVWpYLH
2VQtWN\W\PLiQXYROLWHOQp
3ĥtSUDYD
1DNUiMHMWH2RNXUN\]HVNOHQtNXQHER4EĕçQpRNXUN\QDSOiWN\SĥLEOLçQĕ
5PPVLOQpDGHMWHMHGRPtV\
2 1DNUiMHMWHĆHUYHQRXFLEXOLQDWHQNpSOiWN\DSĥLGHMWHMLGRPtV\
3 9ORçWH1/2åiONXMDEOHĆQpKRRFWD1VWURXçHNĆHVQHNX2VQtWN\
ĆHUVWYpKRW\PLiQXYROLWHOQpDåSHWNXVWpYLHGRPHQåtQiGRE\SĥtVWURMH
1XWULEXOOHWDUR]PL[XMWHYåHGRKODGND
3ĥHOLMWHQDNUiMHQpVXURYLQ\UR]PL[RYDQRXVPĕVt
4
5 3URPtFKHMWHDQHFKWHXOHçHWSĥHVQRFVDOiWVLPĭçHWHGiWLSUYQtGHQ
DOHGUXKøGHQEXGHFKXWQDWMHåWĕOpSH3ĥHGSRGiYiQtPVDOiWYçG\
SURPtFKHMWH
93/112
0H[LFNi]HOHQLQRYiVPĕVSRUFH
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
1/2åiONXYDĥHQøFKVRMRYøFKOXVNĭ
1åiOHNQDVHNDQøFKV\URYøFK]HOHQøFKID]ROt
1åiOHNQDVHNDQpKRV\URYpKRNYĕWiNX
1åiOHNQDVHNDQøFKUDMĆDW
1åiOHNQDVHNDQpĆHUYHQpSDSULN\
4OçtFHROLYRYpKRROHMH
åīiYD]2FLWURQĭ
4OçtFHEDO]DPLNRYpKRRFWD
12VWURXçN\ĆHVQHNX
2VQtWN\ĆHUVWYpKRW\PLiQXYROLWHOQp
3ĥtSUDYD
1DVHNHMWHYåHFKQX]HOHQLQXDYORçWHMLGRYHONpVDOiWRYpPtV\
2 ([WUDKXMWHóåiONXROLYRYpKRROHMHåīiYX]2FLWURQĭ12VWURXçN\
ĆHVQHNXóåiONXEDOD]PLNRYpKRRFWDDĆHUVWYøW\PLiQYPHQåtQiGREĕ
GRNXGVHYåHFKQ\LQJUHGLHQFHQHSURPtVt
3 1DOLMWHVPĕVQDSRNUiMHQRX]HOHQLQXDSURPtFKHMWH
4 3RGiYHMWHQHERGHMWHY\FKODGLWGROHGQLĆN\
94/112
='5$9e3ĕÌ/2+29e6$/É7<
ÅæLYø´&ROHVODZ
‡
‡
‡
‡
‡
‡
‡
‡
‡
1åiOHNQDVWURXKDQpQHERQDVHNDQpPUNYH
1åiOHNQDVWURXKDQpKRĆLQDVHNDQpKRĆHUYHQpKR]HOt
2åiON\QDVWURXKDQpKRĆLQDVHNDQpKREtOpKR]HOt
1OçLĆNDKRĥĆLĆQpKRVHPtQND
1OçLĆNDĆHVQHNRYpKRSUiåNX
23OçLĆN\ĆHUVWYpKRSHSĥH
2OçtFHMDYRURYpKRVLUXSX
3YHONpOçtFHYHJDQVNpPDMRQp]\
1/4åiONXFLWURQRYpåīiY\GOHFKXWL
3ĥtSUDYD
9ORçWHSUYQtFK6XYHGHQøFKLQJUHGLHQFtGRYHONpVDOiWRYpPtV\
2 ([WUDKXMWHMDYRURYøĆLDJiYRYøVLUXSYHJDQVNRXPDMRQp]XDFLWURQ
YPHQåtQiGREĕGRNXGVHYåHFKQ\VXURYLQ\GĭNODGQĕQHSURPtVt
3 3ĥHOLMWHVXURYLQ\YPtVHUR]PL[RYDQRXVPĕVtDSURPtFKHMWH
4 1HFKWHY\FKODGLW
95/112
9HONøPtFKDQøVDOiW
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
6åiONĭĆHUVWYĕQDVHNDQpKRĥtPVNpKRVDOiWX
1åiOHNPDQGDULQNRYøFKGtONĭSRNXGMVRX]NRQ]HUY\WDNEH]åīiY\
1/3åiONXĆHUQøFKROLYQDNUiMHQøFKQDSOiWN\YROLWHOQp
1/2åiONXQDVHNDQpVODGNpFLEXOH
1QDVHNDQpDYRNiGR
1åiOHNUR]SĭOHQøFKFKHUU\UDMĆiWHN
òåiONXY\FKOD]HQøFKDVOLWøFKID]ROt
1/4åiONXROLYRYpKRROHMH
åīiYD]2FLWURQĭ
1/åiONXEDO]DPLNRYpKRRFWD
12VWURXçN\ĆHVQHNX
2VQtWN\ĆHUVWYpED]DON\YROLWHOQp
3ĥtSUDYD
9ORçWH]HOHQLQXGRYHONpVDOiWRYpPtV\
2 ([WUDKXMWHROLYRYøROHMFLWURQEDO]DPLNRYøRFHWĆHVQHNDED]DONX
YPHQåtQiGREĕGRKODGND
3 3ĥHOLMWHVDOiWGUHVLQNHP
4 'REURXFKXī
96/112
='5$9e3ĕÌ/2+29e6$/É7<
5DMĆDWRYRDYRNiGRYøVDOiWVED]DONRX
6DOiW
‡ 1/2YHONpKRPDVLWpKRUDMĆHWH
‡ 1/2DYRNiGD
‡ 12YHONøFKOLVWĭED]DON\
'UHVLQN
‡ 1OçtFHKXPPXVXYL]V1
‡ 2OçtFHEDO]DPLNRYpKRRFWD
2
3
4
5
3ĥtSUDYD
1DNUiMHMWHUDMĆHQDSĥLEOLçQĕ05FPSOiWN\
1DNUiMHMWHDYRNiGRQDSĥLEOLçQĕ05FPSOiWN\
2SOiFKQĕWHED]DONXDQHFKWHMLRVFKQRXW
1DWDOtĥVWĥtGDYĕSRNOiGHMWHUDMĆDWRYpSOiWN\ED]DONXDDYRNiGR
([WUDKXMWHYPHQåtQiGREĕKXPPXVDRFHWGRKODGND
3ĥHGSRGiYiQtPSĥHOLMWHVDOiWGUHVLQNHP
7LS\QDSRGiYiQt
‡ 3RGiYHMWHVDOiWQDSRGNODGX]ĆHUVWYpUXNRO\
‡ -DNRREPĕQXPĭçHWHY\]NRXåHWQDKUDGLWED]DONXNRULDQGUHP
DEDO]DPLNRYøRFHWYLQQøPRFWHP
97/112
6DOiWVNOtĆN\SRUFH
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
1åDORWNDRORXSDQiDQDNUiMHQiQDWHQNpSOiWN\
1PDOøIHQ\NOQDNUiMHQøQDWHQNpSOiWN\
11/2OçLĆN\VLUXSX]DJiYHQHERÅçLYpKR´PHGX
4OçtFHMDEOHĆQpKRRFWD
1OçLĆNDPOHWøFKVHPHQKRĥĆLFH
3OçtFHROLYRYpKRROHMH
VĭODSHSĥGOHFKXWL
05NJUR]SĭOHQøFKFKHUU\UDMĆiWHN
2åiON\ĆRĆNRYøFKNOtĆNĭ
2åiON\NOtĆNĭDOIDOID
350JEDE\åSHQiWXQHERSROQtĆNX
3ĥtSUDYD
1DORçWHåDORWNXGROHGRYpYRG\QD30PLQXW
2 ([WUDKXMWHRFHWKRĥĆLĆQpVHPtQNRVLUXS]DJiYHDROLYRYøROHMYPHQåt
QiGREĕGRKODGND
3 2VXåWHåDORWNXDVPtFKHMWHMLVUDMĆDW\IHQ\NOHPNOtĆN\DåSHQiWHP/
SROQtĆNHP
4 3ĥHOLMWHVDOiWGUHVLQNHPSURPtFKHMWHDGRFKXīWHVROtDĆHUVWYĕQDPOHWøP
SHSĥHP
5 'REURXFKXī
98/112
9(ÿ(ĕ(
9\EHUWHVLMDNøNROLSRNUP]NDWHJRULH$ĆL%
DSĥtORKX]NDWHJRULH&
QHER
1
V
A:
B:
C:
JSURWHLQĭ
‡ GUĭEĕçNXĥHFt
SUVDNUĭWtSUVD
‡ U\E\ORVRV
SODWøV
WODPRXQSVWUXK
‡ ĆHUYHQpPDVR
OLERYpKRYĕ]t
YĆHWQĕVSRGQt
NøW\]DGQtKR
URåWĕQFH
DOLERYpKR
POHWpKRPDVD
‡ 15åiONX
YHJHWDULiQVNp
YHĆHĥHGOH
YODVWQtKRYøEĕUX
YL]V10
åiON\
‡ ODKRGQpÅçLYp´
SĥtORK\
YL]V102
‡ VDOiWRYp
]HOHQLQ\GOH
YODVWQtKR
YøEĕUX
‡ PtFKDQpV\URYp
]HOHQQ\GOH
YODVWQtKR
YøEĕUX
3URWHLQRYpYHĆHĥH
9\FKXWQHMWHVL100JĆLVWøFKSURWHLQĭV2åiON\ODKRGQpKRÅçLYpKR´
VDOiWXQHERVDOiWX]HV\URYp]HOHQLQ\GOHYODVWQtKRYøEĕUX0DVR/
U\E\PĭçHWHRJULORYDWSpFWQHERRSpFWQDSiQYLDOHQLNG\MH
QHVPDçWHDQLQHREDOXMWHYHVWURXKDQFH2FKXīWHMHĆHUVWYRX
FLWURQRYRXåīiYRXEDO]DPLNRYøPRFWHPVRMRYRXRPiĆNRX
QHER]iOLYNRXQDYHONøPtFKDQøVDOiWYL]V1HERMWHVH
H[SHULPHQWRYDWDY\WYRĥLWVLYODVWQtUHFHSW\QD]iOLYN\²YçG\VHDOH
ĥLĐWH]iVDGDPLWRKRWRSOiQX
99/112
2 9HJHWDULiQVNpYHĆHĥH
9\FKXWQHMWHVL11/2åiONX]HOHQLQRYpYHĆHĥHV2åiON\ODKRGQpKR
ÅçLYpKR´VDOiWXQHERVDOiWX]HV\URYp]HOHQLQ\GOHYODVWQtKRYøEĕUX
'XåHQiĆRĆND
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
2
3
4
5
7
2åiON\QDVHNDQpPUNYH
2åiON\QDVHNDQpKRFHOHUX
2åiON\FXNHW\
1åiOHNQDVHNDQpFLEXOH
1åiOHNQDVHNDQpKRNYĕWiNX
1åiOHNQDVHNDQøFKUDMĆDW
2åiON\YDĥHQpĆRĆN\
1/21OçtFHH[WUDSDQHQVNpKRROLYRYpKRROHMH
4åiON\]HOHQLQRYpKRYøYDUX
VĭODSHSĥGOHFKXWL
3ĥtSUDYD
'RYHONpKRKUQFHQDOLMWHROLYRYøROHMDUR]HKĥHMWHKRQDVWĥHGQtP
SODPHQL
3ĥLGHMWHPUNYHFHOHUDFLEXOLDRVPDKQĕWHMHGRPĕNND
3ĥLGHMWHNYĕWiNDRVPDKQĕWHKRGRPĕNND
3ĥLGHMWHĆRĆNX
3ĥLOLMWH]HOHQLQRYøYøYDU
3ĥLYHĐWHNYDUXDSRWp]WOXPWHSODPHQ
3ĥLGHMWHUDMĆDWDDYDĥWH20PLQXW
2VROWHDRSHSĥHWHGOHFKXWL
3R]QiPND²RNRĥHğWHGOHFKXWL
3RGiYHMWHVSOiWNHPVHPtQNRYpKR
FKOHEDQHERVPĕVQDOLMWHQD
òåiONXKQĕGpUøçHTXLQR\
ĆLFHOR]UQQøFKWĕVWRYLQ
100/112
9(ÿ(ĕ(
7ĕVWRYLQ\)DJLROL
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
1åiOHNĥDStNDWpKRFHOHUXQDNUiMHQpKRQDNRVWLĆN\
1åiOHNQDVHNDQøFK]HOHQøFKID]ROt
2PUNYHQDNUiMHQpQDWHQNiNROHĆND
2RORXSDQiDQDVHNDQi]UDOiUDMĆDWD
2OçtFHRUJDQLFNpUDMĆDWRYpSDVW\QHER1/2åiONXUDMĆDWRYpRPiĆN\
1åiOHNYDĥHQøFKRE\ĆHMQøFKID]ROtQHERID]ROtFDQQHOOLQL
200JXYDĥHQøFKFHOR]UQQøFKWĕVWRYLQQHERWĕVWRYLQ]KQĕGpUøçH
1OçtFHROLYRYpKRROHMH
1RORXSDQøDQDMHPQRQDVHNDQøVWURXçHNĆHVQHNX
1/2OçLĆN\POHWøFKVHPHQIHQ\NOX
1/2OçLĆN\POHWøFKVHPHQNRULDQGUX
1OçLĆNDVXåHQpED]DON\1(%21OçtFHĆHUVWYp
VĭODSHSĥGOHFKXWL
2OçtFHQDMHPQRQDVHNDQpĆHUVWYpED]DON\QHERLWDOVNpSHWUçHON\QD
R]GREX
‡ 4åiON\]HOHQLQRYpKRYøYDUX
3ĥtSUDYD
8YDĥWHWĕVWRYLQ\SRGOHQiYRGX
2 5R]HKĥHMWHROHMYKUQFLQDPtUQpPSODPHQL
3 3ĥLGHMWHGRKUQFHĆHVQHNDQDVWĥHGQtPSODPHQLKRRSHĆWHOHKFH
GR]ODWRYD
4 3ĥLGHMWHPUNHYFHOHU]HOHQpID]ROHDQDVHNDQiUDMĆDWDDRSpNHMWHQD
5
7
VWĥHGQtP/Y\VRNpPSODPHQLSĥLEOLçQĕ5PLQXW
3ĥLGHMWHE\OLQN\DNRĥHQtDNUiWFHRVPDKQĕWH
3ĥLOLMWHGRKUQFH]HOHQLQRYøYøYDU
6OLMWHYRGX]ID]ROtDSĥLGHMWHMHGRKUQFH
3ĥLGHMWHUDMĆDWDĆLUDMĆDWRYRXRPiĆNXSĥLNORSWHSRNOLĆNRXDYDĥWHQD
PtUQpPSODPHQLGR]PĕNQXWt]HOHQLQ\
9 3ĥLGHMWHWĕVWRYLQ\RVROWHDRSHSĥHWHGOHFKXWL
9DĥWHMHåWĕ10PLQXWDSRNXGWRMHSRWĥHEDSĥLGHMWHYRGXĆLYøYDU
3ĥHGSRGiYiQtPWDOtĥR]GREWHĆHUVWYRXED]DONRXĆLSHWUçHONRX
101/112
9HJHWDULiQVNpFKLOL
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
3VWURXçN\ĆHVQHNX
4UDMĆDWD
1åiOHNQDVHNDQpPUNYH
1åiOHNQDVHNDQpKRFHOHUX
1åiOHNFXNHW\
1åiOHNQDVHNDQpFLEXOH
1åiOHNQDVHNDQpSDSULN\
1QDVHNDQiSDSULĆNDMDODSHxRYROLWHOQĕ
1NRQ]HUYDID]ROt
1NRQ]HUYDVWUDNDWøFKID]ROt
1NRQ]HUYDĆHUQøFKID]ROt
2OçtFHRUHJDQD
1/2åiONX]HOHQLQRYpKRYøYDUX
1/2OçtFHROLYRYpKRROHMH
3ĥtSUDYD
9ORçWHĆHVQHNDUDMĆDWDGRY\VRNpQiGRE\DUR]PL[XMWHMHQDNRVWLĆN\
2 'RYHONpKRKUQFHQDOLMWHROLYRYøROHMDUR]HKĥHMWHKRQDVWĥHGQtP
SODPHQL
3 3ĥLGHMWHGRKUQFHFLEXOLSDSULNXPUNHYFHOHUDFXNHWXDYDĥWHGR
]PĕNQXWt
4 3ĥLGHMWHH[WUDKRYDQRXUDMĆDWRYRXVPĕVID]ROHYøYDUDRUHJDQR
DYDĥWHQDVWĥHGQtPSODPHQL]DVWiOpKRPtFKiQtSĥLEOLçQĕ10PLQXW
5 =WOXPWHSODPHQDYDĥWH]DREĆDVQpKRPtFKiQtMHåWĕSĥLEOLçQĕKRGLQX
3RGiYHMWH
102/112
9(ÿ(ĕ(
3RKDQNRYpQXGOHVID]ROHPLDEURFFROLQL
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
1EDOHQt100SRKDQNRYøFKQXGOt
1/2OçtFHROLYRYpKRĆLNRNRVRYpKRROHMH
36VWRQN\EURFFROLQLGOHYHOLNRVWL
åSHWNDSiOLYpSDSULN\
ĆHUQøSHSĥ
VĭO
10UR]SĭOHQøFKĆHUYHQøFKĆLçOXWøFKFKHUU\UDMĆiWHN
1/2åiONXID]ROtRSOiFKQXWøFKDVOLWøFK]NRQ]HUY\
1OçtFHUøçRYpKRRFWD
1OçLĆNDRUHJDQD
1OçLĆNDED]DON\
EDO]DPLNRYøĆLMDEOHĆQøRFHWQDSRNDSiQt
3ĥtSUDYD
3ĥLYHĐWHNYDUXYHONøKUQHFRVROHQpYRG\9V\SWHGRQĕMSRKDQNRYp
QXGOHDYDĥWHSRGOHQiYRGXQDREDOX6OLMWHYRGX2GORçWHVLQXGOH
VWUDQRX
2 8YDĥWHEURFFROLQLYSiĥHDE\]tVNDO\VYĕWOH]HOHQRXEDUYXSĥLEOLçQĕ2
PLQXW\DRGORçWHMHVWUDQRX
3 5R]HKĥHMWHROLYRYø/NRNRVRYøROHMYQHSĥLOQDYpPKUQFL3ĥLGHMWHFKHUU\
UDMĆiWNDUR]NURMHQiQDĆWYUWN\SiOLYRXSDSULNXVĭODSHSĥ3ĥLGHMWH
EURFFROLQLDYDĥWH12PLQXW\DE\YåHFKQ\LQJUHGLHQFHWURFKX]PĕNO\
-DNPLOH]PĕNQRXUDMĆDWDSĥLGHMWH1/2åiONXID]ROt=DPtFKHMWH
DSĥHVXğWHREVDKKUQFHQDWDOtĥ
4 'RUR]SiOHQpKRKUQFHSĥLGHMWH12OçtFHUøçRYpKRRFWD3ĥLGHMWHGR
SiQYHXYDĥHQpSRKDQNRYpQXGOHRFKXīWHåSHWNRXVROLED]DON\
DRUHJDQD'ĭNODGQĕSURPtFKHMWH-DNPLOHMVRXQXGOHSURPtFKDQp
DSURKĥiWpSĥLGHMWHNQLP]QRYXEURFFROLPLID]ROHDUDMĆDWD3ĥLGHMWH
VĭOĆLSHSĥGOHFKXWL
5 3ĥHGSRGiYiQtPPĭçHWHSRNUPSRNDSDWEDO]DPLNRYøPĆLMDEOHĆQøP
RFWHP
103/112
3URWHLQRYøNRWOtN
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
1/2åiONXQHYDĥHQpFL]UQ\
1/2åiONXQHYDĥHQpĆRĆN\
1åiOHNQHYDĥHQpåSDOG\TXLQR\EXOJDUXQHERFHOR]UQQøFKWĕVWRYLQ
1/2OçtFHROLYRYpKRĆLNRNRVRYpKRROHMHQDRUHVWRYiQt
1/2QDVHNDQpĆHUYHQpFLEXOH
34QDMHPQRQDVHNDQpVWURXçN\ĆHVQHNX
1QDVHNDQiĆHUYHQiSDSULND
1QDVHNDQpYHONpUDMĆH
3åiON\QDKUXERQDVHNDQpKRåSHQiWXĆLNDSXVW\
1/2åiONXQDMHPQRQDVHNDQpĆHUVWYpSHWUçHON\ĆLNRULDQGUX
2OçtFHVH]DPRYpSDVW\WDKLQL
2GtON\FLWURQX
3ĥtSUDYD
8YDĥWHFL]UQXDåSDOGXQHERRELORYLQXGOHYODVWQtKRYøEĕUXSRGOH
QiYRGXQDREDOX=FHĐWHDRGORçWHVWUDQRX
2 1DOLMWHROLYRYøROHMGRYHONpKRKUQFHDUR]HKĥHMWHKRQDVWĥHGQtP
SODPHQL2VPDKQĕWHQDQĕPQDVHNDQRXFLEXOLDĆHVQHNQĕNROLNPLQXW
DGiYHMWHVLSĥLWRPSR]RUDE\VWHMHQHSĥLSiOLOL1\QtSĥLGHMWHQDVHNDQRX
ĆHUYHQRXSDSULNXDUDMĆDWDDUHVWXMWHSĥLEOLçQĕ7PLQXW
3 =DPtFKHMWHGRVPĕVLQDVHNDQRXNDSXVWXĆLåSHQiWDUHVWXMWHQĕNROLN
PLQXWGR]PĕNQXWt=DPtFKHMWHGRVPĕVLSDVWXWDKLQLQHYDĥHQRX
RELORYLQXYODVWQtYROE\DFL]UQX9DĥWHQDPtUQpPSODPHQLQĕNROLN
PLQXW2GVWDYWHKUQHF]SORWQ\D]DPtFKHMWHGRQĕMQDVHNDQRX
SHWUçHONXĆLNRULDQGU3ĥLGHMWHVĭOĆLSHSĥGOHFKXWLDR]GREWHGtON\
FLWURQXDFLWURQRYRXNĭURX
5HFHSWMHXUĆHQ
QD6SRUFt
104/112
9(ÿ(ĕ(
2ĥHFKRYiQiGLYND
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
2
3
4
5
200JQDVHNDQøFKRĥHFKĭ
1QDVHNDQiFLEXOH
1QDMHPQRQDVHNDQøVWURXçHNĆHVQHNX
1QDVHNDQiĆHUYHQiSDSULND
1/2åiONXQDMHPQRQDVHNDQpEURNROLFH
1QDVHNDQøĥDStNDWøFHOHU
1QDVWURXKDQiPUNHY
1åiOHNQDMHPQRQDVHNDQøFKKXE
50JVWURXKDQN\VNOtĆN\YL]QtçHXYHGHQøUHFHSW
25JFHOR]UQQpPRXN\
125PO]HOHQLQRYpKRYøYDUX
1OçLĆNDW\PLiQX
1OçLĆNDRUHJDQD
VĭODSHSĥGOHFKXWL
1OçtFHROLYRYpKRĆLNRNRVRYpKRROHMH
3ĥtSUDYD
3ĥHGHKĥHMWHWURXEXQD10ƒ&
5R]HKĥHMWHYKUQFLROHMDRVPDKQĕWHQDQĕPFLEXOL
3ĥLGHMWHSDSULNXFHOHUDKRXE\DUHVWXMWHMHåWĕ2PLQXW\
3ĥLGHMWHĆHVQHNDQDVWURXKDQRXPUNHYDUHVWXMWH1PLQXWX
2GVWDYWHKUQHF]SORWQ\SĥLGHMWHPRXNXD]DPtFKHMWH
3ĥLGHMWH]HOHQLQRYøYøYDURĥHFK\VWURXKDQNXW\PLiQRUHJDQRDåSHWNX
VROLDSHSĥH
7 9\PDçWH]DSpNDFtPtVXROLYRYøP
ROHMHP9ORçWHVPĕVGRPtV\DSRPRFt
OçtFHMLXKODĐWH
3HĆWHSĥLEOLçQĕ35PLQXW
9 1DNUiMHMWHQiGLYNXQDSĥLEOLçQĕ1FP
SOiWN\DSRGiYHMWHVYHONøP
]HOHQLQRYøPVDOiWHP
6WURXKDQNDVNOtĆN\2SHĆWHGYD
SOiWN\FKOHEDVNOtĆN\
GR]ODWRYD9ORçWHMHGRPHQåtQiGRE\
105/112
DNUiWFHMHUR]PL[XMWH
.DULERERYøVDOiWSRUFH
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
‡
1QDNUiMHQiYHONiFLEXOH
2RORXSDQpVWURXçN\ĆHVQHNX
25FPĆHUVWYpKR]i]YRUXRORXSDQpKRDQDVHNDQpKR
1OçtFHROLYRYpKRROHMH
1OçtFHNDULSUiåNX
1/2OçLĆN\POHWpKRNDUGDPRPX
1/2OçLĆN\POHWpVNRĥLFH
1/2OçLĆN\KRĥĆLFH
1/4OçLĆN\SiOLYpSDSULN\
1/4OçLĆN\POHWpKRQRYpKRNRĥHQt
1/4OçLĆN\NXUNXP\
1/4OçLĆN\VODGNpSDSULN\
1åiOHNYRG\
15åiONXEREĭ]NRQ]HUY\SĥtSDGQĕ1óåiONXYDĥHQpĆRĆN\
2VWĥHGQĕYHONpPUNYHSRGpOQĕSĥHSĭOHQpDQDNUiMHQpQDWHQNi
SĭONROHĆND
3/4åiONXKUiåNX
1/2UDMĆHWHQDNUiMHQpKRQDNRVWLĆN\
3/4åiONXNRNRVRYpKRPOpND
VĭODĆHUVWYĕQDPOHWøSHSĥGOHFKXWL
3ĥtSUDYD
5R]PL[XMWHY1XWULEXOOHWXFLEXOLĆHVQHND]i]YRUGRKODGND
2 5R]HKĥHMWHROHMYHYHONpPKUQFLQDQt]NpPSODPHQL
3 3ĥLGHMWHVPĕVFLEXOHĆHVQHNXD]i]YRUXSĥLNORSWHSRNOLĆNRXDYDĥWH]D
4
5
7
REĆDVQpKRPtFKiQtDVL5PLQXWDE\VH]MHPQLODFKXī
=DPtFKHMWHGRKUQFHNRĥHQtSĥLGHMWHPUNYHDYRGX
9DĥWHSRGSRNOLĆNRXDVL2030PLQXWGRNXGPUNYHQH]PĕNQRX
3ĥLGHMWHERE\UDMĆDWDKUiåHNNRNRVRYpPOpNRVĭODSHSĥGOHFKXWL
9DĥWHQDPtUQpPSODPHQLGDOåtFK10PLQXW
3RGiYHMWHVDPRVWDWQĕQHERQDòåiONXKQĕGpUøçHTXLQR\ĆLEXOJXUX
106/112
9(ÿ(ĕ(
æDPSLRQRYøEXUJHUSRUFH
‡
‡
‡
‡
‡
‡
‡
‡
‡
4VWĥHGQĕYHONpçDPSLRQ\EH]QRçLĆHN
1VWĥHGQĕYHONiFLEXOHQDNUiMHQiQD1FPSOiWN\
2OçtFHROLYRYpKRROHMH
3/4OçLĆN\VROL
1/2OçLĆN\POHWpKRĆHUQpKRSHSĥH
1QDNUiMHQpDYRNiGR
òOçLĆN\QDMHPQRQDVHNDQpKRĆHVQHNX
4FHOR]UQQpEXON\OHKFHRSHĆHQp
4SHĆHQpĆHUYHQpSDSULN\YHVNOHQLFL
3ĥtSUDYD
3RWĥHWHKRXE\DSOiWN\FLEXOHROHMHPSRV\SWHåSHWNRXVROLDSHSĥH
2 5R]HKĥHMWHQDVWĥHGQtPSODPHQLYHONøKUQHF3ĥLGHMWHçDPSLRQ\DYDĥWH
GR]PĕNQXWt-HGQRXMHREUDīWH3ĥHVXğWHçDPSLRQ\QDWDOtĥRWHYĥHQøP
NORERXĆNHPQDKRUX3ĥLNU\MWHMHDE\]ĭVWDO\WHSOp9HVWHMQpPKUQFL
3 RVPDKQĕWHSOiWN\FLEXOHGR]ODWRYDSĥLEOLçQĕPLQXW1ĕNROLNUiWMH
REUDīWH
4 0H]LWtPVPtFKHMWHòDYRNiGDĆHVQHND]E\Op1/4OçLĆN\VROLDSHSĥH
3URPtFKHMWH7HQWRNURNPĭçHWHSĥHVNRĆLWDSRXçtWSĥHGHPSĥLSUDYHQp
JXDFDPROHYL]V
5 .ORERXĆN\çDPSLRQĭURYQRPĕUQĕQDSOğWHFLEXOtDSDSULNDPL%XON\
SRWĥHWHDYRNiGRYRXVPĕVt/JXDFDPROHDQDNDçGRXEXONXSRORçWHMHGHQ
SOQĕQøçDPSLRQ
3RORçWHQDQĕM]E\OpSOiWN\DYRNiGDDSĥLNORSWHGUXKRXSĭONRXEXON\
7 3RGiYHMWHVYHONøP]HOHQLQRYøPVDOiWHP
107/112
1
ĆDV
)É=(-Ì'(/1Ìÿ(.
SRNUP
:
683(59ëæ,91ë
.2.7(-/
:
'232/('1Ì
VXURYLQ\
69$ą,1$
:
2%Ĕ'
:
2'32/('1Ì
69$ą,1$
:
9(ą(Ĥ(
:
1$9Ì&
32=1É0.<
.20(17ÉĤ(
3Ĥ,320Ì1.<
108/112
2
ĆDV
)É=(-Ì'(/1Ìÿ(.
SRNUP
:
683(59ëæ,91ë
.2.7(-/
:
'232/('1Ì
69$ą,1$
:
2%Ĕ'
:
2'32/('1Ì
69$ą,1$
:
9(ą(Ĥ(
:
1$9Ì&
VXURYLQ\
32=1É0.<
.20(17ÉĤ(
3Ĥ,320Ì1.<
109/112
3
ĆDV
)É=(-Ì'(/1Ìÿ(.
SRNUP
:
683(59ëæ,91ë
.2.7(-/
:
'232/('1Ì
69$ą,1$
:
2%Ĕ'
:
2'32/('1Ì
69$ą,1$
:
9(ą(Ĥ(
:
1$9Ì&
VXURYLQ\
32=1É0.<
.20(17ÉĤ(
3Ĥ,320Ì1.<
110/112
32=1É0.<
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
_____________________________________________________
111/112
&(1$352'É9$1e+2(/(.752=$ĤÌ=(1Ì='20É&1267,-(9ą(71Ĕ
5(&<./$ą1Ì+23ĤÌ63Ĕ9.8329,11267,9<3/ë9$-Ì&Ì=129(/<=É.21$
ą6%22'3$'(&+-6283/1Ĕ1<35267Ĥ('1,&79Ì0),50<
(/(.752:,1$6$$6(.2/652
www.delimano.cz
5HNODPDFH6WXGLR0RGHUQDVUR3UDKD
=iND]QLFNøVHUYLV
ZZZWRSVKRSF]
/112