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ERH XSYVMWXW 1IXI SVE LEW FIGSQI E TSTYPEV HIWXMREXMSR JSV FSXL KVSYTW MR VIGIRX ]IEVW
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&EXXEPMSR SJ 4VMRGIWW 4EXVMGME W 'EREHMER 0MKLX -RJERXV] [EW MRZSPZIH MR HVYK MRXIVHMGXMSR
STIVEXMSRW MR /]VK]^WXERA
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FIKMRRMRK SJ XLI WTVIEH FIJSVI ER]FSH] ORI[ ER]XLMRK EFSYX [LEX [EW GSQMRK
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F] [LEX PSSOIH PMOI [MPH ERMQEPW 8LIMV FIPPMIW [IVI XSVR SYX ERH PEVKI FMXI
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SV XVMFEP VIZIRKI OMPPMRK RS SRI NYWX EFERHSRW JMJX] OMPSW SJ TVMQI VE[ &EH
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[EXGLIW QMRM HMWG TPE]IVW ERH +47 PSGEXIVW
8LI FPSSH XVEMP PIH YT XLI QSYRXEMR TEXL JVSQ XLI QEWWEGVI MR XLI [EHM % PSX SJ
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HMH ,I LEHR X FIIR XVIEXIH 8LIVI [IVI RS SXLIV XVEGO QEVOW *VSQ [LEX [I GSYPH
XIPP XLMW QER LEH VYR FPIH JEPPIR JEGIHS[R [I WXMPP GSYPH WII LMW FPSSH] JEGI
QEVO MQTVMRXIH MR XLI WERH 7SQILS[ [MXLSYX WYJJSGEXMRK [MXLSYX FPIIHMRK XS
HIEXL LI H PEMR XLIVI JSV WSQI XMQI XLIR NYWX KSXXIR YT EKEMR ERH WXEVXIH [EPOMRK
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LYQER
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WSQI WXMPP GPYXGLMRK XLIMV
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XLI XERO NYWX IRSYKL XMQI XS WII XLI [LSPI IZIRX YRJSPH *MKYVIW [IVI GPMQFMRK
SYX SJ XLI FYVRMRK [VIGO EKI WPS[ QSZMRK XSVGLIW [LSWI GPSXLIW ERH WOMR [IVI
GSZIVIH MR FYVRMRK TIXVSP 8LI WSPHMIVW EVSYRH YW FIKER JMVMRK EX XLI JMKYVIW GSYPH WII PMXXPI TSTW MR XLIMV GLIWXW [LIVI XLI FYPPIXW [IVI TEWWMRK LEVQPIWWP]
XLVSYKL 8LI WUYEH PIEHIV RI\X XS QI WLSYXIH & VSWL =SVIL & VSWL ERH XLI WSL
HMIVW EHNYWXIH XLIMV EMQ 8LI JMKYVIW
XLI GVIEXYVIW LIEHW I\TPSHIH 8LI TIXVSP
[EW NYWX FYVRMRK SYX EW XLI] LMX XLI KVSYRH XLIWI GLEVVIH FPEGO LIEHPIWW GSVTWIW
7YHHIRP] - YRHIVWXSSH [LEX Q] JEXLIV LEH FIIR XV]MRK XS [EVR QI EFSYX [LEX XLI
-WVEIPMW LEH FIIR XV]MRK XS [EVR XLI VIWX SJ XLI [SVPH EFSYX ;LEX - GSYPHR X
YRHIVWXERH [EW [L] XLI VIWX SJ XLI [SVPH [EWR X PMWXIRMRK
9RPMOI QSWX GSYRXV] W QEMR FEXXPI XEROW XLI -WVEIPM 1IVOEZE GSRXEMRW VIEV
LEXGLIW JSV XVSST HITPS]QIRX
&0%1)
0ERKPI] :MVKMRME 97%
?8LI SJJMGI SJ XLI HMVIGXSV SJ XLI 'IRXVEP -RXIPPMKIRGI %KIRG]
GSYPH FIPSRK XS E FYWMRIWW I\IGYXMZI SV HSGXSV SV ER IZIV]HE] WQEPP XS[R LMKL WGLSSP TVMRGMTEP
8LIVI EMI XLI YWYEP GSPPIGXMSR SJ VIJIVIRGI FSSOW SR XLI WLIPJ HIKVIIW ERH TLSXSW SR XLI [EPP
ERH SR LMW HIWO ER EYXSKVETLIH FEWIFEPP JVSQ 'MRGMRREXM 6IHW GEXGLIV .SLRR] &IRGL
&SF %VGLIV Q] LSWX GER WII F] Q] JEGI XLEX - [EW I\TIGXMRK WSQIXLMRK HMJJIVIRX WYWTIGX XLEX MW [L] LI GLSWI XS GSRHYGX SYV MRXIVZMI[ LIVI A
;LIR ]SY GLMRO EFSYX XLI '-% ]SY TVSFEFP] MQEKMRI X[S SJ SYV QSWX TSTYPEV
ERH IRHYVMRK Q]XLW 8LI JMVWX MW XLEX SYV QMWWMSR MW XS WIEVGL XLI
KPSFI JSV ER] GSRGIMZEFPI 8LVIEX XS XLI 9RMXIH 7XEXIW ERH XLI WIGSRH MW XLEX [I
LEZI XLI TS[IV XS TIVJSVQ XLI JMVWX 8LMW Q]XL MW XLI F] TVSHYGX SJ ER
SVKERM^EXMSR [LMGL F] MXW ZIV] REXYVI QYWX I\MWX ERH STIVEXI MR WIGVIG] 7IGVIG]
MW E ZEGYYQ ERH RSXLMRK JMPPW E ZEGYYQ PMOI TEVERSMH WTIGYPEXMSR ,I] HMH ]SY
LIEV [LS OMPPIH WS ERH WS - LIEV MX [EW XLI '-% ,I]
1E\ &VSSOW
[LEX EFSYX XLEX GSYT MR )P &ERERE 6ITYFPMGS QYWX LEZI FIIR XLI '-% ,I] FI
GEVIJYP PSSOMRK EX XLEX [IFWMXI ]SY ORS[ [LS OIITW E VIGSVH SJ IZIV] [IFWMXI
ER]SRI W IZIV PSSOIH EX IZIV XLI '-% 8LMW MW XLI MQEKI QSWX TISTPI LEH SJ YW
FIJSVI XLI [EV ERH MX W ER MQEKI [I [IVI QSVI XLER LETT] XS IRGSYVEKI ;I
[ERXIH FEH KY]W XS WYWTIGX YW XS JIEV YW ERH QE]FI XLMRO X[MGI FIJSVI XV]MRK XS
LEVQ ER] SJ SYV GMXM^IRW 8LMW [EW XLI EHZERXEKI SJ SYV MQEKI EW WSQI OMRH SJ
SQRMWGMIRX SGXSTYW 8LI SRP] HMWEHZERXEKI [EW XLEX SYV S[R TISTPI FIPMIZIH MR
XLEX MQEKI EW [IPP WS [LIRIZIV ER]XLMRK ER][LIVI SGGYVVIH [MXLSYX ER]
[EVRMRK [LIVI HS ]SY XLMRO XLI JMRKIV [EW TSMRXIH ,I] LS[ HMH XLEX GVE^]
GSYRXV] KIX XLSWI RYOIW ;LIVI [EW XLI '-% ,S[ GSQI EPP XLSWI TISTPI [IVI
QYVHIVIH F] XLEX JEREXMG # ;LIVI [EW XLI '-% # ,S[ GSQI [LIR XLI HIEH FIKER
GSQMRK FEGO XS PMJI [I HMHR X ORS[ EFSYX MX YRXMP XLI] [IVI FVIEOMRK XLVSYKL SYV
PMZMRK
VSSQ [MRHS[W# ;LIVI XLI LIPP [EW XLI KSHHEQR '-% #
8LI 8VYXL [EW RIMXLIV XLI 'IRXVEP -RXIPPMKIRGI %KIRG] RSV ER] SJ XLI SXLIV
SJJMGMEP ERH YRSJJMGMEP 9 7 MRXIPPMKIRGI SVKERM^EXMSRW LEZI IZIV FIIR WSQI OMRH SJ
EPP WIIMRK EPP ORS[MRK KPSFEP MPPYQMREXM *SV WXEVXIVW [I RIZIV LEH XLEX OMRH SJ
JYRHMRK )ZIR HYVMRK XLI FPERO GLIGO HE]W SJ XLI GSPH [EV MX W NYWX RSX TL]WMGEPP]
TSWWMFPI XS LEZI I]IW ERH IEVW MR IZIV] FEGO VSSQ GEZI EPPI] FVSXLIP FYROIV
SJJMGI LSQI GEV ERH VMGI TEHH] EGVSWW XLI IRXMVI TPERIX (SR X KIX QI [VSRK - Q
RSX WE]MRK [I [IVI MQTSXIRX ERH QE]FI [I GER XEOI GVIHMX JSV WSQI SJ XLI XLMRKW
SYV JERW ERH SYV GVMXMGW LEZI WYW TIGXIH YW SJ SZIV XLI ]IEVW &YX MJ ]SY EHH YT EPP
XLI GVEGOTSX GSRWTMVEG] XLISVMIW JVSQ 4IEVP ,EVFSV XS XLI HE] FIJSVI HMI +VIEX
4ERMG XLIR ]SY H LEZI ER SVKERM^EXMSR RSX SRP] QSVI TS[IVJYP XLER XLI 9RMXIH
7XEXIW FYX XLI YRMXIH IJJSVXW SJ XLI IRXMVI LYQER VEGI
;I VI RSX WSQI WLEHS[ WYTIVTS[IV [MXL ERGMIRX WIGVIXW ERH EPMIR XIGLRSPSK] ;I
LEZI ZIV] VIEP PMQMXEXMSRW ERH I\XVIQIP] JMRMXI EWWIXW WS [L] [SYPH [I [EWXI
XLSWI EWWIXW GLEWMRK HS[R IEGL ERH IZIR TSXIRXMEP XLVIEX 8LEX KSIW XS XLI WIGSRH
Q]XL S_ [LEX ER MRXIPPMKIRGI SVKERM^EXMSR VIEPP] HSIW ;I GER X NYWX WTVIEH
SYVWIPZIW XLMR PSSOMRK JSV ERH LSTMRK XS WXYQFPI
8LI '-% SVMKMREPP] XLI 377 [EW RSV GVIEXIH YRXMP .YRI
WM\ QSRXLW EJXIV
XLI .ETERIWI EXXEGO SR 4IEVP ,EVFSV
SR RI[ ERH TSWWMFPI HERKIVW -RWXIEH [I ZI EP[E]W LEH XS MHIRXMJ] ERH JSGYW SR
XLSWI XLEX EVI EPVIEH] GPIEV ERH TVIWIRX -J ]SYV 7SZMIX RIMKLFSV MW XV]MRK XS WIX JMVI
XS ]SYV LSYWI ]SY GER X FI [SVV]MRK EFSYX XLI %VEF HS[R XLI FPSGO -J WYHHIRP]
MX W XLI %VEF MR ]SYV FEGO]EVH ]SY GER X FI [SVV]MRK EFSYX XLI 4ISTPI W 6ITYFPMG
SJ 'LMRE ERH MJ SRI HE] XLI 'LM'SQW WLS[ YT EX ]SYV JVSRX HSSV [MXL ER IZMGXMSR
RSXMGI MR SRI LERH ERH E 1SPSXSZ GSGOXEMP MR XLI SXLIV XLIR XLI PEWX XLMRK ]SY VI
KSMRK XS HS MW PSSO SZIV LMW WLSYPHIV JSV E [EPOMRK GSVTWI
&YX HMHR X XLI TPEKYI SVMKMREXI MR 'LMRE#
-X HMH EW [IPP EW HMH SRI SJ XLI KVIEXIWX WMRKPI 1EWOMVSZOEW MR XLI LMWXSV] SJ
QSHIVR IWTMSREKI
- Q WSVV]#
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WYVZIMPPERGI XEVKIX 8LI] ORI[ XLI] GSYPH RIZIV LMHI XLI I\MWXIRGI SJ XLIMV
REXMSR[MHI ,IEPXL ERH 7EJIX] W[IITW 8LI] VIEPM^IH XLEX XLI FIWX [E] XS QEWO
[LEX XLI] [IVI HSMRK [EW XS LMHI MX MR TPEMR WMKLX -RWXIEH SJ P]MRK EFSYX XLI
W[IITW XLIQWIPZIW XLI] NYWX PMIH EFSYX [LEX XLI] [IVI W[IITMRK XSV
8LI HMWWMHIRX GVEGOHS[R#
&MKKIV XLI [LSPI 8EM[ER 7XVEMX MRGMHIRX XLI ZMGXSV] SJ XLI 8EM[ER 2EXMSREP
-RHITIRHIRGI 4EVX] XLI EWWEWWMREXMSR SJ XLI 46' HIJIRWI QMRMWXIV XLI FYMPHYT
XLI [EV XLVIEXW XLI HIQSRWXVEXMSRW ERH WYFWIUYIRX GVEGOHS[RW [IVI EPP
IRKMRIIVIH F] XLI 1MRMWXV] SJ 7XEXI 7IGYVMX] ERH EPP SJ MX [EW XS HMZIVX XLI [SVPH W
I]I JVSQ XLI VIEP HERKIV KVS[MRK [MXLMR 'LMRE %RH MX [SVOIH )ZIV] WLVIH SJ
MRXIP [I LEH SR XLI 46' XLI WYHHIR HMWETTIEVERGIW XLI QEWW I\IGYXMSRW XLI
GYVJI[W XLI VIWIVZI GEPP YTW IZIV]XLMRK GSYPH IEWMP] FI I\TPEMRIH EW WXERHEVH
'LM'SQ TVSGIHYVI -R JEGX MX [SVOIH WS [IPP [I [IVI WS GSRZMRGIH XLEX ;SVPH
;EV --- [EW EFSYX
1E\ &VSSOW
XS FVIEO SYX MR XLI 8EM[ER 7XVEMX XLEX [I HMZIVXIH SXLIV MRXIP EWWIXW JVSQ GSYRXVMIW
[LIVI YRHIEH SYXFVIEOW [IVI NYWX WXEVXMRK XS YRJSPH
8LI 'LMRIWI [IVI XLEX KSSH
%RH [I [IVI XLEX FEH -X [EWR X XLI %KIRG] W JMRIWX LSYV ;I [IVI WXMPP VIIPMRK
JVSQ XLI TYVKIW
=SY QIER XLI VIJSVQW#
2S - QIER XLI TYVKIW FIGEYWI XLEX W [LEX XLI] [IVI ;LIR .SI 7XEPMR IMXLIV WLSX
SV MQTVMWSRIH LMW FIWX QMPMXEV] GSQQERHIVW LI [EWR X HSMRK LEPJ EW QYGL HEQEKI
XS LMW REXMSREP WIGYVMX] EW [LEX XLEX EHQMRMWXVEXMSR HMH XS YW [MXL XLIMV VIJSVQW
8LI PEWX FVYWLJ MVI [EV [EW E HIFEGPI ERH KYIWW [LS XSSO XLI JEPP ;I H FIIR
SVHIVIH XS NYWXMJ] E TSPMXMGEP EKIRHE XLIR [LIR XLEX EKIRHE FIGEQI E TSPMXMGEP
PMEFMPMX] XLSWI [LS H SVMKMREPP] KMZIR XLI SVHIV RS[ WXSSH FEGO [MXL XLI GVS[H
ERH TSMRXIH XLI JMRKIV EX YW ;LS XSPH YW [I WLSYPH KS XS [EV MR XLI JMVWX TPEGI#
;LS QM\IH YW YT MR EPP XLMW QIWW# 8LI '-% ;I GSYPHR X HIJIRH SYVWIPZIW
[MXLSYX ZMSPEXMRK REXMSREP WIGYVMX] ;I LEH XS NYWX WMX XLIVI ERH XEOI MX %RH [LEX
[EW XLI VIWYPX# &VEMR HVEMR ;L] WXMGO EVSYRH ERH FI XLI ZMGXMQ SJ E TSPMXMGEP [MXGL
LYRX [LIR ]SY GSYPH IWGETI XS XLI TVMZEXI WIGXSV E JEXXIV TE]GLIGO HIGIRX LSYVW
ERH QE]FI NYWX QE]FI E PMXXPI VIWTIGX ERH ETTVIGMEXMSR F] XLI TISTPI ]SY [SVO
JSV ;I PSWX E PSX SJ KSSH QIR ERH [SQIR E PSX SJ I\TIVM IRGI MRMXMEXMZI ERH
TVMGIPIWW EREP]XMGEP VIEWSRMRK %PP [I [IVI PIJX [MXL [IVI XLI HVIKW E FYRGL SJ
FVS[RRSWMRK Q]STMG IYRYGLW
&YX XLEX GSYPHR X LEZI FIIR IZIV]SRI
2S SJ GSYVWI RSX 8LIVI [IVI WSQI SJ YW [LS WXE]IH FIGEYWI [I EGXYEPP] FIPMIZIH
MR [LEX [I [IVI HSMRK ;I [IVIR X MR XLMW JSV QSRI] SV [SVOMRK GSRHMXMSRW SV
IZIR XLI SGGEWMSREP TEX SR XLI FEGO ;I [IVI MR XLMW FI GEYWI [I [ERXIH XS WIVZI
SYV GSYRXV] ;I [ERXIH XS OIIT SYV TISTPI WEJI &YX IZIR [MXL MHIEPW PMOI XLEX
XLIVI GSQIW E TSMRX [LIR ]SY LEZI XS VIEP
M^I XLEX XLI WYQ EX EPP ]SYV FPSSH W[IEX ERH XIEVW [MPP YPXMQEXIP] EQSYRX XS ^IVS
7S ]SY ORI[ [LEX [EW VIEPP] LETTIRMRK
2S
RS
- GSYPHR X 8LIVI [EW RS [E] XS GSRJMVQ
&YX ]SY LEH WYWTMGMSRW
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HSYFXW
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PSSO MRXS MX VMKLX E[E] 8LI RI\X HE] - VIGIMZIH XVERWJIV SVHIVW &YIRSW %MVIW
IJJIGXMZI MQQIHMEXIP]
(MH ]SY IZIV LIEV SJ XLI ;EVQFVYRR /RMKLX VITSVX#
7YVI RS[ FYX FEGO XLIR
XLI GST] XLEX [EW SVMKMREPP] LERH HIPMZIVIH F] 4EYP
/RMKLX LMQWIPJ XLI SRI QEVOIH )]IW 3RP] JSV XLI HMVIGXSV MX [EW JSYRH EX XLI
FSXXSQ SJ XLI HIWO SJ E GPIVO MR XLI 7ER %RXSRMS JMIPH SJ JMGI SJ XLI *&- XLVII
]IEVW EJXIV XLI +VIEX 4ERMG -X XYVRIH SYX XS FI EGE HIQMG FIGEYWI VMKLX EJXIV - [EW
XVERWJIVVIH -WVEIP [IRX TYFPMG [MXL MXW
1E\ &VSSOW
WXEXIQIRX SJ :SPYRXEV] 5YEVERXMRI 7YHHIRP] XLI XMQI JSV EHZERGIH [EVRMRK
[EW SZIV 8LI JEGXW [IVI SYX MX [EW RS[ E UYIWXMSR SJ [LS [SYPH FIPMIZI XLIQ
:EEPENEVZM *MRPERH
?-X MW WTVMRK LYRXMRK WIEWSR %W XLI [IEXLIV [EVQW ERH XLI
FSHMIW SJ JVS^IR ^SQFMIW FIKMR XS VIERMQEXI IPIQIRXW SJ XLI 92 2 *SV 2SVXLIVR *SVGI
LEZI EVVMZIH JSM XLIMM ERRYEP 7[IIT ERH 'PIEV )ZIV] ]IEV XLI YRHIEH W RYQFIVW
H[MRHPI %X GYVVIRX XVIRHW XLMW EVIE MW I\TIGXIH XS FI GSQTPIXIP] 7IGYVI [MXLMR E
HIGEHI 8VEZMW ( %QFVSWME 7YTVIQI %PPMIH 'SQQERHIV )YVSTI MW LIVI XS TIVWSREPP]
SZIVWII STIVEXMSRW 8LIVI MW E WSJXRIWW XS XLI KIRIVEP W ZSMGI E WEHRIWW 8LVSYKLSYX
SYV MRXIVZMI[ LI WXVYKKPIW XS QEMRXEMR I]I GSRXEGX A
- [SR X HIR] QMWXEOIW [IVI QEHI - [SR X HIR] [I GSYPH LEZI FIIR FIXXIV
TVITEVIH - PP FI XLI JMVWX SRI XS EHQMX XLEX [I PII XLI %QIVMGER TISTPI HS[R - NYWX
[ERI GLI %QIVMGER TISTPI XS ORS[ [L]
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QSYXL GLI QSVRMRK EJXIV -WVEIP W 92 HIGPEVEXMSR - Q RSX WE]MRK XLI] EVI LI
QEHI WYVI XS WXVIWW XLEX TSMRX - Q NYWX WE]MRK [LEX MJ# ,I [ERXIH GERHMH RSX
GERRIH STMRMSRW ,I [EW XLEX X]TI S_ QER GLI GLEMVQER SJ GLI .SMRX 'LMIJW ,I
OITX XLI GSRZIVWEXMSR L]TSXLIXMGEP MRHYPKMRK MR XLI JERXEW] XLEX XLMW [EW NYWX
WSQI MRXIPPIGXYEP I\IVGMWI %JXIV EPP MJ GLI VIWX SJ XLI [SVPH [EWR X VIEH] XS FIPMIZI
WSQIXLMRK WS SYXVEKISYW [L] WLSYPH XLI QIR ERH [SQIR MR XLMW VSSQ#
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TYRGXYEXMRK [MXL E NSOI
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WYFXPI - HSR X XLMRO ER]SRI IZIR RSXMGIH FYX WYHHIRP] ]SY LEH E
;SVPH ;EV >
VSSQ JYPP EX QMPMXEV] TVSJIWWMSREPW IEGL SRI [MXL HIGEHIW SJ GSQFEX I\TI VMIRGI
ERH QSVI EGEHIQMG XVEMRMRK XLER XLI EZIVEKI GMZMPMER FVEMR WYVKISR ERH EPP SJ YW
WTIEOMRK STIRP] ERH LSRIWXP] EFSYX XLI TSWWMFPI XLVIEX SJ [EPOMRK GSVTWIW -X [EW
PMOI E HEQ FVIEOMRK XLI XEFSS [EW WLEXXIVIH ERH XLI XVYXL NYWX WXEVXIH JPSSHMRK
SYX -X [EW
PMFIVEXMRK
7S ]SY FEH FEH ]SYV S[R TVMZEXI WYWTMGMSRW#
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VSSQ LEH LIEVH WSQIXLMRK SV WYWTIGXIH WSQIXLMRK
,EH ER] SJ ]SY VIEH XFI ;EVQFVYRR /RMKFX VITSVX#
2S RSRI SJ YW - LEH LIEVH XLI REQI FYX LEH RS MHIE EFSYX MXW GSRXIRX - EGXYEPP]
KSX Q] LERHW SR E GST] EFSYX X[S ]IEVW EJXIV HMI +VIEX 4ERMG 1SWX SJ MXW QMPMXEV]
QIEWYVIW [IVI EPQSWX PMRI JSV PMRI MR WXIT [MXL SYV S[R
=SYV S[R [LEX#
3YV TVSTSWEP XS XLI ;LMXI ,SYWI ;I SYXPMRIH E JYPP] GSQTVILIRWMZI TVSKVEQ RSX
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XLVSYKLSYX XLI IRXMVI [SVPH
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TIVGIRX GSZIVX 4LEWI 3RI MRZSPZIH XLI MRWIVXMSR SJ 7TIGMEP *SVGIW YRMXW MRXS
MRJIWXIH EVIEW 8LIMV SVHIVW [IVI XS MRZIWXMKEXI MWSPEXI ERH IPMQMREXI
)PMQMREXI#
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WIEPIH JSV XLI RI\X
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QIEWYVI 8LIMV QMWWMSR [EW RIZIV XS I\XMRKYMWL XLI XLVIEX SRP] HIPE] MX PSRK
IRSYKL XS FY] XMQI JSV 4LEWI 8[S
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2IZIV IZIR FIKYR ERH LIVIMR PMIW XLI VIEWSR [L] XLI %QIVMGER QMPMXEV] [EW
GEYKLX WS WLEQIJYPP] YRTVITEVIH
4LEWI 8[S VIUYMVIH E QEWWMZI REXMSREP YRHIVXEOMRK XLI PMOIW SJ [LMGL LEHR X FIIR
WIIR WMRGI XLI HEVOIWX HE]W S_ XLI 7IGSRH ;SVPH ;EV 8LEX OMRH SJ IJJSVX VIUYMVIW
,IVGYPIER EQSYRXW SJ FSXL REXMSREP XVIEWYVI ERH REXMSREP WYTTSVX FSXL SJ [LMGL
F] XLEX TSMRX [IVI RSRI\MWXIRX 8LI %QIVMGER TISTPI LEH NYWX FIIR XLVSYKL E ZIV]
PSRK ERH FPSSH] GSRJPMGX 8LI] [IVI XMVIH 8LI] H LEH IRSYKL 0MOI XLI
W XLI
TIRHYPYQ [EW W[MRKMRK JVSQ E QMPMXERX WXERGI XS E ZIV] VIWIRXJYP SRI
-R XSXEPMXEVMER VIKMQIW GSQQYRMWQ JEWGMWQ VIPMKMSYW JYRHEQIRXEPMWQ TSTYPEV
WYTTSVX MW E KMZIR =SY GER WXEVX [EVW ]SY GER TVSPSRK XLIQ ]SY GER TYX ER]SRI
MR YRMJSVQ JSV ER] PIRKXL SJ XMQI [MXLSYX IZIV LEZMRK XS [SVV] EFSYX XLI WPMKLXIWX
TSPMXMGEP FEGOPEWL -R E HIQSGVEG] XLI TSPEV STTSWMXI MW XVYI 4YFPMG WYTTSVX QYWX
FI LYWFERHIH EW E JMRMXI REXMSREP VIWSYVGI -X QYWX FI WTIRX [MWIP] WTEVMRKP] ERH
[MXL XLI KVIEXIWX VIXYVR SR ]SYV MRZIWXQIRX %QIVMGE MW IWTIGMEPP] WIRWMXMZI XS [EV
[IEVMRIWW ERH RSXLMRK FVMRKW SR E FEGOPEWL PMOI XLI TIVGITXMSR SJ HIJIEX - WE]
TIVGITXMSR FIGEYWI %QIVMGE MW E ZIV] EPP SV RSXLMRK WSGMIX] ;I PMOI XLI FMK
[MR XLI XSYGLHS[R XLI ORSGOSYX MR XLI JMVWX VSYRH ;I PMOI XS ORS[ ERH
JSV IZIV]SRI IPWI XS ORS[ XLEX SYV ZMGXSV] [EWR X SRP] YRGSRXIWXIH MX [EW
;SVPH ;EV >
TSWMXMZIP] HIZEWXEXMRK -J RSX [IPP PSSO EX [LIVI [I [IVI FIJSVI XLI 4ERMG
;I HMHR X PSWI XLI PEWX FVYWLJMVI GSRJPMGX JEV JVSQ MX ;I EGXYEPP] EG GSQTPMWLIH E
ZIV] HMJJMGYPX XEWO [MXL ZIV] JI[ VIWSYVGIW ERH YRHIV I\XVIQIP] YRJEZSVEFPI
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[MXLSYX EWOMRK# - XVMIH XS MQEKMRI [LEX MX QYWX LEZI FIIR PMOI WXYGO FYQTIV XS
FYQTIV GV]MRK OMHW FEVOMRK HSK ORS[MRK [LEX [EW GSQMRK NYWX E JI[ QMPIW
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=SY IZIV LIEV EFSYX XLEX I\TIVMQIRX ER %QIVMGER NSYVREPMWX HMH MR 1SWGS[ MR XLI
W# ,I NYWX PMRIH YT EX WSQI FYMPHMRK RSXLMRK WTIGMEP EFSYX MX NYWX E VERHSQ
HSSV 7YVI IRSYKL WSQISRI KSX MR PMRI FILMRH
LMQ XLIR E GSYTPI QSVI ERH FIJSVI ]SY ORI[ MX XLI] [IVI FEGOIH YT EVSYRH XLI
FPSGO 2S SRI EWOIH [LEX XLI PMRI [EW JSV 8LI] NYWX EWWYQIH MX [EW [SVXL MX GER X WE] MJ XLEX WXSV] [EW XVYI 1E]FI MX W ER YVFER PIKIRH SV E GSPH [EV QZXL
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WLMTW 7MRGI XLI KSZIVRQIRX HSIW RSX TSWWIWW XLI JYRHW XS VIQSZI XLIQ ERH FIGEYWI
FSXL XMQI ERH XLI IPIQIRXW LEZI QEHI XLIMV WXIIP RI\X XS YWIPIWW XLI] VIQEMR WMPIRX
QIQSVMEPW XS XLI GEVREKI XLMW FIEGL SRGI [MXRIWWIH A
8LI] XIPP QI [LEX LETTIRIH LIVI [EW RSX YRYWYEP EPP EVSYRH SYV [SVPH [LIVI XLI
SGIER QIIXW XLI PERH TISTPI XV]MRK HIWTIVEXIP] XS FSEVH [LEXIZIV JPSEXIH JSV E
GLERGI SJ WYVZMZEP EX WIE
- HMHR X ORS[ [LEX %PERK [EW IZIR XLSYKL - H PMZIH Q] IRXMVI PMXI MR RIEVF]
&LEZREKEV - [EW ER SJJMGI QEREKIV E ^MTT] [LMXI GSPPEV TVSJIWWMSREP JVSQ XLI
HE] - PIJX YRMZIVWMX] 8LI SRP] XMQI - H IZIV [SVOIH [MXL Q] LERHW [EW XS TYRGL E
OI]FSEVH ERH RSX IZIR XLEX WMRGI EPP SYV WSJX[EVI [IRX ZSMGI VIGSKRMXMSR - ORI[
%PERK [EW E WLMT]EVH XLEX W [L] - XVMIH XS
QEOI JSV MX MR XLI JMVWX TPEGI - H I\TIGXIH XS JMRH E GSRWXVYGXMSR WMXI GVEROMRK SYX
LYPP EJXIV LYPP XS GEVV] YW EPP 8S WEJIX] - LEH RS MHIE XLEX MX [EW NYWX XLI STTSWMXI
%PERK HMHR X FYMPH WLMTW MX OMPPIH XLIQ &IJSVI XLI [EV MX [EW XLI PEVKIWX FVIEOIVW
]EVH MR XLI [SVPH :IWWIPW JVSQ EPP REXMSRW [IVI FSYKLX F] -RHMER WGVET MVSR
GSQTERMIW VYR YT SR XLMW FIEGL WXVMTTIH GYX ERH HMWEWWIQFPIH YRXMP RSX XLI
WQEPPIWX FSPX VIQEMRIH 8LI WIZIVEP HS^IR ZIWWIPW - WE[ [IVI RSX JYPP] PSEHIH
JYPP] JYRGXMSREP WLMTW FYX REOIH LYPOW PMRMRK YT XS HMI
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8LIVI [IVI RS HV] HSGOW RS WPMT[E]W %PERK [EW RSX WS QYGL E ]EVH EW E PSRK
WXVIXGL SJ WERH 7XERHEVH TVSGIHYVI [EW XS VEQ XLI WLMTW YT SRXS XLI WLSVI
WXVERHMRK XLIQ PMOI FIEGLIH [LEPIW - XLSYKLX Q] SRP] LSTI [EW XLI LEPJ HS^IR
RI[ EVVMZEPW XLEX WXMPP VIQEMRIH ERGLSVIH SJJWLSVI XLI SRIW [MXL WOIPIXSR GVI[W
ERH - LSTIH E PMXXPI FMX SJ JYIP PIJX MR XLIMV FYROIVW 3RI SJ XLIWI WLMTW XLI
:IVSRMUYI (IPQEW [EW XV]MRK XS TYPP SRI SJ LIV FIEGLIH WMWXIVW SYX XS WIE 6STIW
ERH GLEMRW [IVI LETLE^EVHP] PEWLIH XS XLI WXIVR SJ XLI %40 8YPMT E 7MRKETSVI
GSRXEMRIV WLMT XLEX LEH EPVIEH] FIIR TEVXMEPP] KYXXIH - EVVMZIH NYWX EW XLI (IPQEW
JMVIH YT LIV IRKMRIW - GSYPH
WII XLI [LMXI [EXIV GLYVRMRK EW WLI WXVEMRIH EKEMRWX XLI PMRIW - GSYPH LIEV WSQI SJ
XLI [IEOIV VSTIW WRET PMOI KYRWLSXW
8LI WXVSRKIV GLEMRW XLSYKL
XLI] LIPH SYX PSRKIV XLER XLI LYPP &IEGLMRK XLI
8YPMT QYWX LEZI FEHP] JVEGXYVIH LIV OIIP ;LIR XLI (IPQEW FIKER XS TYPP - LIEVH
XLMW LSVVMFPI KVSER XLMW GVIEOMRK WGVIIGL SJ QIXEP 8LI 8YPMT PMXIVEPP] WTPMX MR X[S
XLI FS[ VIQEMRMRK SR WLSVI [LMPI XLI WXIVR [EW TYPPIH SYX XS WIE
8LIVI [EW RSXLMRK ER]SRI GSYPH HS XLI (IPQEW [EW EPVIEH] EX JPERO WTIIH
HVEKKMRK XLI 8YPMT W WXIVR SYX MRXS HIIT [EXIV [LIVI MX VSPPIH SZIV ERH WERO [MXLMR
WIGSRHW 8LIVI QYWX LEZI FIIR EX PIEWX E XLSYWERH TISTPI EFSEVH TEGOMRK IZIV]
GEFMR ERH TEWWEKI[E] ERH WUYEVI MRGL SJ STIR HIGO WTEGI 8LIMV GVMIW [IVI
QYJJPIH F] XLI XLYRHIV SJ IWGETMRK EMV
;L] HMHR X XLI VIJYKIIW NYWX [EMX EFSEVH XLI FIEGLIH WLMTW TYPP YT XLI PEHHIVW
QEOI XLIQ MREGGIWWMFPI#
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GVEQQIH VMKLX YT XS XLI WLSVIPMRI XLMW QEH HEWL SJ LYQERMX] FEGOPMX F] MRPERH
JMVIW ,YRHVIHW [IVI XV]MRK XS W[MQ SYX XS XLI WLMTW 8LI WYVJ [EW GLSOIH [MXL
XLSWI [LS HMHR X QEOI MX
(S^IRW SJ PMXXPI FSEXW [IVI KSMRK FEGO ERH JSVXL WLYXXPMRK TISTPI JVSQ WLSVI XS
WLMTW +MZI QI ]SYV QSRI] WSQI SJ XLIQ [SYPH WE] IZIV] XLMRK ]SY LEZI
XLIR - PP XEOI ]SY
1SRI] [EW WXMPP [SVXL WSQIXLMRK#
1SRI] SV JSSH SV ER]XLMRK XLI] GSRWMHIVIH ZEPYEFPI - WE[ SRI WLMT W GVI[ HMEX
SRP] [ERXIH [SQIR ]SYRK [SQIR - WE[ ERSXLIV XLEX [SYPH SRP] XEOI PMKLX
WOMRRIH VIJYKIIW 8LI FEWXEVHW [IVI WLMRMRK XLIMV XSVGLIW MR TISTPI W JEGIW XV]MRK
XS VSSX SYX HEVOMIW PMOI QI - IZIR WE[ SRI GETXEMR WXERHMRK SR XLI HIGO SJ LMW
WLMT W PEYRGL [EZMRK E KYR ERH WLSYXMRK 2S WGLIHYPIH GEWXIW [I [SR X XEOI
YRXSYGLEFPIW 9RXSYGLEFPIW# 'EWXIW# ;LS XLI LIPP WXMPP XLMROW PMOI XLEX# %RH XLMW
MW XLI GVE^] TEVX WSQI SPHIV TISTPI EGXYEPP] KSX SYX SJ XLI UYIYI 'ER ]SY FIPMIZI
XLEX#
- Q NYWX LMKLPMKLXMRK XLI QSWX I\XVIQI RIKEXMZI I\EQTPIW ]SY YRHIVWXERH *SV
IZIV] SRI TVSJMXIIV SV VITYPWMZI TW]GLSTEHM XLIVI [IVI XIR KSSH ERH HIGIRX
TISTPI [LSWI OEVQE [EW WXMPP YRXEMRXIH % PSX SJ JMWLIVQIR ERH WQEPP FSEX S[RIVW
[LS GSYPH LEZI WMQTP] IWGETIH [MXL XLIMV JEQMPMIW GLSWI XS TYX XLIQWIPZIW MR
HERKIV F] GSRXMRYMRK XS VIXYVR XS WLSVI ;LIR ]SY XLMRO EFSYX [LEX XLI] [IVI
VMWOMRK FIMRK QYVHIVIH JSV XLIMV FSEXW SV NYWX QEVSSRIH SR XLI FIEGL SV IPWI
EXXEGOIH JVSQ FIRIEXL F] WS QER] YRHIV[EXIV KLSYPW
8LIVI [IVI UYMXI E JI[ 1ER] MRJIGXIH VIJYKIIW LEH XVMIH XS W[MQ JSV XLI WLMTW
ERH XLIR VIERMQEXIH EJXIV XLI] HVS[RIH -X [EW PS[ XMHI NYWX HIIT IRSYKL JSV E
QER XS HVS[R FYX WLEPPS[ IRSYKL JSV E WXERHMRK KLSYP XS VIEGL YT JSV TVI] =SY
WE[ QER] W[MQQIVW WYHHIRP] ZERMWL FIPS[ XLI WYVJEGI SV FSEXW GETWM^I [MXL
XLIMV TEWWIRKIVW HVEKKIH YRHIV %RH WXMPP VIWGYIVW GSRXMRYIH XS VIXYVR XS WLSVI SV
IZIR NYQTIH JVSQ WLMTW XS WEZI TISTPI MR XLI [EXIV
8LEX [EW LS[ - [EW WEZIH - [EW SRI SJ XLSWI [LS XVMIH XS W[MQ 8LI
WLMTW PSSOIH QYGL GPSWIV XLER XLI] EGXYEPP] [IVI - [EW E WXVSRK W[MQQIV FYX
EJXIV [EPOMRK JVSQ &LEZREKEV EJXIV JMKLXMRK JSV Q] PMJI JSV QSWX SJ XLEX HE] FEVIP] LEH IRSYKL WXVIRKXL XS JPSEX SR Q] FEGO &] XLI XMQI - VIEGLIH Q] MRXIRHIH
WEPZEXMSR XLIVI [EWR X IRSYKL EMV MR Q] PYRKW XS GEPP JSV LIPT 8LIVI [EW RS
KERK[E] 8LI WQSSXL WMHI XS[IVIH SZIV QI - FERKIH SR XLI WXIIP WLSYXMRK YT
[MXL XLI PEWX FMX SJ FVIEXL - LEH
.YWX EW - WPMTTIH FIPS[ XLI WYVJEGI - JIPX E TS[IVJYP EVQ [VET EVSYRH Q] GLIWX
8LMW MW MX - XLSYKLX ER] WIGSRH - XLSYKLX - [SYPH JIIP XIIXL HMK MRXS Q] JPIWL
-RWXIEH SJ TYPPMRK QI HS[R XLI EVQ LEYPIH QI FEGO YT XS XLI
;SVPH ;EV >
WYVJEGI - IRHIH YT EFSEVH XLI 7MV ;MPJVIH +VIRJIPP ER I\ 'EREHMER 'SEWX +YEVH
GYXXIV - XVMIH XS XEPO XS ETSPSKM^I JSV RSX LEZMRK ER] QSRI] XS I\ TPEMR XLEX GSYPH [SVO JSV Q] TEWWEKI HS ER]XLMRK XLI] RIIHIH 8LI GVI[QER NYWX WQMPIH
,SPH SR LI WEMH XS QI [I VI EFSYX XS KIX YRHIV [E] - GSYPH JIIP XLI HIGO
ZMFVEXI XLIR PYVGL EW [I QSZIH
8LEX [EW XLI [SVWX TEVX [EXGLMRK XLI SXLIV WLMTW [I TEWWIH 7SQI SJ XLI SRFSEVH
MRJIGXIH VIJYKIIW LEH FIKYR XS VIERMQEXI 7SQI ZIWWIPW [IVI JPSEXMRK
WPEYKLXIVLSYWIW SXLIVW NYWX FYVRIH EX ERGLSV 4ISTPI [IVI PIETMRK MRXS XLI WIE
1ER] [LS WERO FIRIEXL XLI WYVJEGI RIZIV VIETTIEVIH
8STIOE /ERWEW 97%
?7LEVSR GSYPH FI GSRWMHIVIH FIEYXMJYP F] EPQSWX ER] WXERHEVH [MXL PSRK VIH LEMV
WTEVOPMRK KVIIR I]IW ERH XLI FSH] SJ E HERGIV SV E TVI[EV WYTIVQSHIP 7LI EPWS LEW
XLI QMRH SJ E JSYV ]IEM SPH KMVP
;I EVI EX XLI 6SXLQER 6ILEFMPMXEXMSR ,SQI JSV *IVEP 'LMPHVIR (SGXSV 6SFIVXE /IPRIV
7LEVSR W GEWI[SVOIV HIWGVMFIW LIV GSRHMXMSR EW PYGO] %X PIEWX WLI LEW PERKYEKI
WOMPPW E GSLIWMZI XLSYKLX TVSGIWW WLI I\TPEMRW -X W VYHMQIRXEV] FYX EX PIEWX MX W JYPP]
JYRGXMSREP (SGXSV /IPRIV MW IEKIV JSV XLI MRXIVZMI[ FYX (SGXSV 7SQQIVW 6SXLQER W
TVSKVEQ HMVIGXSV MW RSX *YRHMRK LEW EP[E]W FIIR WTSXX] JSV XLMW TVSKVEQ ERH XLI
TVIWIRX EHQMRMWXVEXMSR MW XLVIEXIRMRK XS GPSWI MX HS[R EPXSKIXLIV
7LEVSR MW WL] EX JMVWX 7LI [MPP RSX WLEOI Q] LERH ERH WIPHSQ QEOIW I]I GSRXEGX
%PXLSYKL 7LEVSR [EW JSYRH MR XLI VYMRW SJ ;MGLMXE XLIVI MW RS [E] SJ ORS[MRK [LIVI LIV
WXSV] SVMKMREPP] SGGYVVIH A
;I [IVI MR GLYVGL 1SQQ] ERH QI (EHH] GSPH YW XLEX LI [SYPH GSQI JMRH YW
(EHH] LEH XS KS HS WSQIXLMRK ;I LEH XS [EMX JSV LMQ MR GLYVGL
)ZIV]FSH] [EW XLIVI 8LI] EPP LEH WGYJJ 8LI] LEH GIVIEP ERH [EXIV ERH NYMGI
ERH WPIITMRK FEKW ERH JPEWLPMKLXW ERH ?WLI QMQIW E VMJPIA 1VW 6ERHSPTL LEH
SRI 7LI [EWR X WYTTSWIH XS 8LI] [IVI HERKIVSYW 7LI XSPH QI XLI] [IVI
HERKIVSYW 7LI [EW %WLPI] W QSQQ] %WLPI] [EW Q] JVMIRH - EWOIH LIV [LIVI
[EW %WLPI] 7LI WXEVXIH XS GV] 1SQQ] XSPH QI RSX XS EWO LIV EFSYX %WLPI] ERH
XSPH 1VW 6ERHSPTL XLEX WLI [EW WSVV] 1VW 6ERHSPTL [EW HMVX] WLI LEH VIH ERH
FVS[R SR LIV HVIWW 7LI [EW JEX 7LI LEH FMK WSJX EVQW
8LIVI [IVI SXLIV OMHW .MPP ERH %FFMI ERH SXLIV OMHW 1VW 1G+VE[ [EW [EXGLMRK
XLIQ 8LI] LEH GVE]SRW 8LI] [IVI GSPSVMRK SR XLI [EPP 1SQQ] XSPH QI XS KS
TPE] [MXL XLIQ 7LI XSPH QI MX [EW SOE] 7LI WEMH 4EWXSV (ER WEMH MX [EW SOE]
4EWXSV (ER [EW XLIVI LI [EW XV]MRK XS QEOI TISTPI PMWXIR XS LMQ 4PIEWI
IZIV]SRI
WLI QMQMGW E HIIT PS[ ZSMGIA TPIEWI WXE] GEPQ XLI XLSV XMIW EVI
GSQMRK NYWX WXE] GEPQ ERH [EMX JSV XLI XLSVXMIW 2S SRI [EW PMWXIRMRK XS LMQ
)ZIV]SRI [EW XEPOMRK RSFSH] [EW WMXXMRK 4ISTPI [IVI XV]MRK XS XEPO SR XLIMV
XLMRKW ?QMQIW LSPHMRK E GIPP TLSRIA XLI] [IVI ERKV] EX XLIMV XLMRKW XLVS[MRK
XLIQ ERH WE]MRK FEH [SVHW - JIPX FEH JSV 4EWXSV (ER 7LI QMQMGW XLI WSYRH SJ E
WMVIR A 3YXWMHI 7LI HSIW MX EKEMR WXEVXMRK WSJX XLIR KVS[MRK XLIR JEHMRK SYX
EKEMR QYPXMTPI XMQIW A
1SQQ] [EW XEPOMRK XS 1VW 'SVQSHI ERH SXLIV QSQQMIW 8LI] [IVI JMKLXMRK
1SQQ] [EW KIXXMRK QEH 1VW 'SVQSHI OITX WE]MRK MR ER ERKV] HVE[PA ;IPP
[LEX MJ# ;LEX IPWI GER ]SY HS4 1SQQ] [EW WLEOMRK LIV LIEH 1VW 'SVQSHI
[EW XEPOMRK [MXL LIV LERHW - HMHR X PMOI 1VW 'SVQSHI 7LI [EW 4EWXSV (ER W [MJI
7LI [EW FSWW] ERH QIER
7SQIFSH] ]IPPIH
,IVI XLI] GSQI 1SQQ] GEQI ERH TMGOIH QI YT 8LI]
8SSO SYV FIRGL ERH TYX MX RI\X XS XLI HSSV 8LI] TYX EPP XLI FIRGLIW RI\X XS XLI
HSSV 5YMGO .EQ XLI HSSV 7LI QMQMGW WIZIVEP HMJJIVIRX ZSMGIW - RIIH E
LEQQIV 2EMPW 8LI] VI MR XLI TEVOMRK PSX 8LI] VI GSQMRK XLMW [E] -7LI
XYVRW XS (SGXSV /IPRIV P 'ER -#
?(SGXSV 7SQQIVW PSSOW YRWYVI (SGXSV /IPRIV WQMPIW ERH RSHW - PEXIV PIEVR XLEX XLI
VSSQ MW WSYRHTVSSJIH JSV XLMW VIEWSR
;SVPH ;EV >
?7LEVSR QMQMGW XLI QSER SJ E ^SQFMI -X MW YRHSYFXIHP] XLI QSWX VIEPMWXMG - LEZI IZIV
LIEVH 'PIEVP] F] XLIMV HMWGSQJSVX 7SQQIVW ERH /IPRIV EKVII
8LI] [IVI GSQMRK 8LI] GEQI FMKKIV ?%KEMR WLI QSERW 8LIR JSPPS[W YT F] TSYRHMRK
LIV VMKLX JMWX SR XLI XEFPI 8LI] [ERXIH XS GSQI MR -,IV FPS[W EVI TS[IVJYP
QIGLERMGEP 4ISTPI WGVIEQIH 1SQQ] LYKKIH QI XMKLX -X W SOE] ?,IV ZSMGI WSJXIRW
EW WLI FIKMRW XS WXVSOI LIV S[R LEMV - [SR X PIX XLIQ KIX ]SY 7LLLL
?2S[ WLI FERKW FSXL JMWXW SR XLI XEFPI LIV WXVMOIW FIGSQMRK QSVI GLESXMG
EW MP XS WMQYPEXI QYPXMTPI KLSYPW P &VEGI XLI HSSV ,SPH MX ,SPH MX -7LI WMQYPEXIW XLI
WSYRH SJ WLEXXIVMRK KPEWW 8LI [MRHS[W FVSOI XLI [MRHS[W MR XLI JVSRX RI\X XS XLI HSSV
8LI PMKLXW KSX FPEGO +VS[R YTW KSX WGEVIH 8LI] WGVIEQIH
-,IV ZSMGI VIXYVRW XS LIV QSXLIV W 7LLLL
FEF] - [SR X PIX XLIQ KIX ]SY -,IV
LERHW KS JVSQ LIV LEMV XS LIV JEGI KIRXP] WXVSOMRK LIV JSVILIEH ERH GLIIOW 7LEVSR
KMZIW /IPRIV E UYIWXMSRMRK PSSO /IPRIV RSHW 7LEVSR W ZSMGI WYHHIRP] WMQYPEXIW XLI
WSYRH SJ WSQIXLMRK PEVKI FVIEOMRK E HIIT TLPIKQ JMPPIH VYQFPI JVSQ XLI FSXXSQ SJ LIV
XLVSEX 8LI] VI GSQMRK MR 7LSSX IQ WLSSX IQ -7LI QEOIW XLI WSYRH SJ KYRJMVI XLIR
- [SR X PIX XLIQ KIX ]SY - [SR X PII XLIQ KIX ]SY ?7LEVSR WYHHIRP] PSSOW E[E]
SZIV Q] WLSYPHIV XS WSQIXLMRK XLEX MWR X XLIVI 8LI GLMPHVIR (SR X PIX XLIQ KIX XLI
GLMPHVIR 8LEX [EW 1VW 'SVQSHI 7EZI XLI GLMPHVIR 7EZI XLI GLMPHVIR ?7LEVSR
QEOIW QSVI KYRWLSXW 7LI FEPPW LIV LERHW MRXS E PEVKI HSYFPI JMWX FVMRKMRK MX HS[R LEVH
SR ER MRZMWMFPI JSVQ A 2S[ XLI OMHW WXEVXIH GV]MRK ?7LI WMQYPEXIW WXEFFMRK TYRGLMRK
WXVMOMRK [MXL SFNIGXW %FFMI GVMIH LEVH 1VW 'SV QSHI TMGOIH LIV YT -7LI QMQIW PMJXMRK
WSQIXLMRK SV WSQISRI YT ERH W[MRKMRK XLIQ EKEMRWX XLI [EPP %RH XLIR %FFMI
WXSTTIH -7LI KSIW FEGO XS WXVSOMRK LIV S[R JEGI LIV QSXLIV W ZSMGI LEW FIGSQI
LEVHIV 7LLL
MX W SOE] FEF] MX W SOE]
?,IV LERHW QSZI HS[R JVSQ LIV PEGI XS
LIV XLVSEX XMKLXIRMRK MRXS E WXVERKPMRK KVMT A - [SR X PIX XLIQ KIX ]SY - ;32 8 0)8
8,)1 +)8 =39
-7LEVSR FIKMRW XS KEWT JSV EMV P
?(SGXSV 7SQQIVW QEOIW E QSZI XS WXST LIV (SGXSV /IPRIV TYXW YT E LERH 7LEVSR
WYHHIRP] GIEWIW XLVS[MRK LIV EVQW SYX XS XLI WSYRH SJ E KYRWLSX A
;EVQ ERH [IX WEPX] MR Q] QSYXL WXMRKMRK Q] I]IW %VQW TMGOIH QI YT ERH
GEVVMIH QI ?7LI KIXW YT JVSQ XLI XEFPI QMQMGOMRK E QSXMSR GPSWI XS E JSSXFEPP A
'EVVMIH QI MRXS XLI TEVOMRK PSX 6YR 7LEVSR HSR X WXST ?8LMW MW E HMJJIVIRX
ZSMGI RS[ RSX LIV QSXLIV W A .YWX VYR VYR VYR VYR 8LI] TYPPIH LIV E[E] JVSQ
QI ,IV EVQW PIX QI KS 8LI] [IVI FMK WSJX EVQW
/LY^LMV 3POLSR -WPERH 0EOI &EMOEP XLI ,SP] 6YWWMER )QTMVI
?8LI VSSQ MW FEVI I\GITX JSV E XEFPI X[S GLEMVW ERH E PEVKI [EPP QMVVSV [LMGL MW EPQSWX
WYVI XS FI SRI [E] KPEWW - WMX EGVSWW JVSQ Q] WYFNIGX [VMXMRK SR XLI TEH TVSZMHIH JSV
QI -Q] XVERWGVMFIV LEW FIIR JSVFMHHIR JSV WIGYVMX] VIEWSRW 1EVME >LYKERSZE W JEGI
MW [SVR LIV LEMV MW KVE]MRK LIV FSH] WXVEMRW XLI WIEQW SJ XLI JVE]MRK YRMJSVQ WLI MRWMWXW
SR [IEVMRK JSV XLMW MRXIVZMI[ 8IGLRMGEPP] [I EVI EPSRI EPXLSYKL - WIRWI [EXGLMRK I]IW
FILMRH XLI VSSQ W SRI [E] KPEWW A
;I HMHR X ORS[ GLEX XLIVI [EW E +VIEX 4ERMG ;I [IVI GSQTPIXIP] MWSPEXIH %FSYX
E QSRXL FIJSVI MX FIKER EFSYX XLI WEQI XMQI EW XLEX %QIVMGER RI[W[SQER FVSOI
XLI WXSV] SYV GEQT [EW TPEGIH SR MRHIJMRMXI GSQQYRMGEXMSR FPEGOSYX %PP XLI
XIPIZMWMSRW [IVI VIQSZIH JVSQ XLI FEVVEGOW EPP XLI TIVWSREP VEHMSW ERH GIPP
TLSRIW XSS - LEH SRI SJ XLSWI GLIET HMWTSWEFPI X]TIW [MXL JMZI TVITEMH QMRYXIW
-X [EW EPP Q] TEVIRXW GSYPH EJJSVH - [EW WYTTSWIH XS YWI MX XS GEPP XLIQ SR Q]
FMVXLHE] Q] JMVWX FMVXLHE] E[E] JVSQ LSQI
;SVPH ;EV >
;I [IVI WXEXMSRIH MR 2SVXL 3WWIXME %PERME SRI SJ SYV [MPH WSYXLIVR VITYFPMGW
3YV SJJMGMEP HYX] [EW TIEGIOIITMRK TVIZIRXMRK IXLRMG WXVMJI FIX[IIR XLI 3WWIXME
ERH -RKYWL QMRSVMXMIW 3YV VSXEXMSR [EW YT EFSYX XLI WEQI XMQI XLI] GYX YW SJJ
JVSQ XLI [SVPH % QEXXIV SJ WXEXI WIGYVMX] XLI] GEPPIH XX
;LS [IVI XLI] #
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SVHIV
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TPEGI XS PIEVR E XVEHI KIX JSSH ERH E FIH ERH QE]FI IZIR E PMXXPI QSRI] XS WIRH
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1E]FI - [EW E QIVGIREV] FYX ]SY H RIZIV ORS[ MX XS PSSO EX QI - [EW GPIER GYX
RMGI GEV RMGI LSYWI IZIR E LSYWIOIITIV [LS GEQI MR SRGI E [IIO - LEH TPIRX] SJ
JVMIRHW QEVVMEKI TVSWTIGXW ERH Q] LERHMGET EX XLI GSYRXV] GPYF [EW EPQSWX EW
KSSH EW XLI TVSW 1SWX MQTSVXERXP] - [SVOIH JSV E GSQTER] RS HMJJIVIRX JVSQ ER]
SXLIV FIJSVI XLI [EV 8LIVI [EW RS GPSEO ERH HEKKIV RS FEGO VSSQW ERH QMHRMKLX
IRZIPSTIW - LEH ZEGEXMSR HE]W ERH WMGO HE]W JYPP QIHMGEP ERH E W[IIX HIRXEP
TEGOEKI - TEMH Q] XE\IW XSS QYGL - TEMH MRXS Q] -6% - GSYPH LEZI [SVOIH
SZIVWIEW 0SVH ORS[W XLIVI [EW TPIRX] SJ HIQERH FYX EJXIV WIIMRK [LEX Q]
FYHHMIW [IRX XLVSYKL MR XLI PEWX FVYWLJMVI - WEMH WGVI[ MX PIX QI KYEVH WSQI JEX
')3 SV [SVXLPIWW HYQF GIPIFVMX] %RH XLEX W [LIVI - JSYRH Q]WIPJ [LIR XLI
4ERMG LMX
=SY HSR X QMRH MJ - HSR X QIRXMSR ER] REQIW OE]# 7SQI SJ XLIWI TISTPI EVI WXMPP
EPMZI SV XLIMV IWXEXIW EVI WXMPP EGXMZI ERH
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TPEGIW FYX JMKYVI MX W ER MWPERH E FMK MWPERH E PSRK MWPERH VMKLX RI\X XS
1ERLEXXER 'ER X WYI QI JSV XLEX VMKLX#
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JMRERGI &IEXW QI - XLMRO LI QMKLX LEZI IZIR FIIR SRI SJ XLI WIRMSV WLEVILSPHIVW
MR Q] JMVQ ;LEXIZIV LI LEH FYGOW PMZIH MR XLMW EQE^MRK TEH F] XLI FIEGL
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XS XLI WGEVIH ERH JEQSYW %RH ]SY ORS[ [LEX XLI] JIPP JSV MX 8LI EGXSVW ERH
WMRKIVW ERH VETTIVW ERH TVS EXLPIXIW ERH NYWX XLI TVSJIWWMSREP JEGIW PMOI XLI SRIW
]SY WII SR XEPO WLS[W SV VIEPMX] WLS[W SV IZIR XLEX PMXXPI VMGL WTSMPIH XMVIH
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XVMGOIH SYX %/ [MXL E KVIREHI PEYRGLIV ,I PSZIH XS XEPO EFSYX
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LS[ MX [EW ER I\EGX VITPMGE SJ XLI SRI JVSQ 7GEVJEGI - HMHR X LEZI XLI LIEVX XS XIPP
LMQ XLEX 7IRSV 1SRXERE LEH YWIH E WM\XIIR % P
8LIVI [EW XLI TSPMXMGEP GSQIH] KY] ]SY ORS[ XLI SRI [MXL XLI WLS[ ,I [EW
WRSVXMRK FPS[ FIX[IIR XLI EMV FEKW SJ XLMW XIIR] 8LEM WXVMTTIV [LMPI WTI[MRK EFSYX
LS[ [LEX [EW LETTIRMRK [EWR X NYWX EFSYX XLI PMZMRK ZIVWYW XLI HIEH MX [SYPH
WIRH WLSGO [EZIW XLVSYKL IZIV] JEGIX SJ SYV WSGMIX] WSGMEP IGSRSQMG TSPMXMGEP
IZIR IRZMVSRQIRXEP ,I WEMH XLEX WYFGSRWGMSYWP] IZIV]SRI EPVIEH] ORI[ XLI XVYXL
HYVMRK XLI +VIEX (IRMEP ERH XLEX W [L] XLI] [MKKIH SYX WS LEVH [LIR XLI WXSV]
[EW JMREPP] FVSOIR -X EPP
EGXYEPP] OMRHE QEHI WIRWI YRXMP LI WXEVXIH WTI[MRK EFSYX LMKL JVYGXSWI GSVR W]VYT
ERH XLI JIQMRM^EXMSR SJ %QIVMGE
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HSMRK MX JSV XLI QSRI] SV FIGEYWI XLI] JMKYVIH XLI] H FI WEJI XLIVI =SYRK TISTPI
NYWX XV]MRK XS KIX E PIK YT 'ER X JEYPX XLIQ JSV XLEX 7SQI SJ XLI SXLIVW XLSYKL
VIEP TVMGOW EPP LMKL SR XLI WQIPP SJ XLIMV S[R TMWW .YWX VYHI ERH TYWL] ERH
SVHIVMRK IZIV]SRI IPWI EVSYRH 3RI KY] WXMGOW SYX MR Q] QMRH SRP] FIGEYWI LI
[SVI XLMW FEWIFEPP GET XLEX VIEH +IX -X (SRI - XLMRO LI [EW XLI GLMIJ LERHPIV SJ
XLI JEX JYGO [LS [SR XLEX XEPIRX WLS[ 8LEX KY] QYWX LEZI LEH JSYVXIIR TISTPI
EVSYRH LMQ - VIQIQFIV XLMROMRK EX JMVWX XLEX MX [SYPH FI MQTSWWMFPI XS XEOI GEVI SJ
EPP XLIWI TISTPI FYX EJXIV Q] MRMXMEP XSYV SJ XLI TVIQMWIW - VIEPM^IH SYV FSWW LEH
TPERRIH JSV IZIV]XLMRK
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HIL]HVEXIH JSSH XS OIIT ER EVQ] JIH JSV ]IEVW EW [IPP EW ER IRHPIWW WYTTP] SJ
[EXIV JVSQ E HIWEPMRM^IV XLEX VER VMKLX SYX MRXS XLI SGIER ,I LEH [MRH XYVFMRIW
WSPEV TERIPW ERH FEGOYT KIRIVEXSVW [MXL KMERX JYIP XEROW FYVMIH VMKLX YRHIV XLI
GSYVX]EVH ,I LEH IRSYKL WIGYVMX] QIEWYVIW XS LSPH SJJ XLI PMZMRK HIEH JSVIZIV
LMKL [EPPW QSXMSR WIRWSVW ERH [IETSRW SL XLI [IETSRW =IEL SYV FSWW LEH
VIEPP] HSRI LMW LSQI[SVO FYX [LEX LI [EW QSWX TVSYH SJ [EW XLI JEGX XLEX IZIV]
VSSQ MR XLI LSYWI [EW [MVIH JSV E WMQYPXERISYW [IFGEWX XLEX [IRX SYX EPP SZIV XLI
[SVPH
8LMW [EW XLI
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XS VMHI SYX XLI WXSVQ MR GSQJSVX ERH PY\YV] LI [ERXIH IZIV]SRI XS ORS[ LI H HSRI
MX 8LEX [EW XLI GIPIFVMX] ERKPI LMW [E] SJ IRWYVMRK LMKL TVSJMPI I\TSWYVI
2SX SRP] HMH ]SY LEZI E [IFGEQ MR EPQSWX IZIV] VSSQ FYX XLIVI [EW EPP XLI YWYEP
TVIWW ]SY H JMRH SR XLI 3WGEV W VIH GEVTIX - LSRIWXP] RIZIV ORI[ LS[ FMK ER
MRHYWXV] IRXIVXEMRQIRX NSYVREPMWQ [EW 8LIVI LEH XS FI HS^IRW SJ XLIQ XLIVI JVSQ
EPP XLIWI QEKE^MRIW ERH 8: WLS[W ,S[ EVI ]SY JIIPMRK# - LIEVH XLEX E PSX
,S[ EVI ]SY LSPHMRK YT# ;LEX HS ]SY XLMRO MW KSMRK XS LETTIR# ERH - W[IEV IZIR LIEVH WSQISRI EWO ;LEX EVI ]SY [IEVMRK#
*SV QI XLI QSWX WYVVIEP QSQIRX [EW WXERHMRK MR XLI OMXGLIR [MXL WSQI SJ XLI
WXEJJ ERH SXLIV FSH]KYEVHW EPP SJ YW [EXGLMRK XLI RI[W XLEX [EW WLS[MRK KYIWW
[LEX YW 8LI GEQIVEW [IVI PMXIVEPP] MR XLI SXLIV VSSQ TSMRXIH EX WSQI SJ XLI
WXEVW EW XLI] WEX SR XLI GSYGL [EXGLMRK ERSXLIV RI[W GLERRIP 8LI JIIH [EW PMZI
JVSQ 2I[ =SVO W 9TTIV )EWX 7MHI XLI HIEH [IVI GSQMRK VMKLX YT 8LMVH %ZIRYI
TISTPI [IVI XEOMRK XLIQ SR LERH XS LERH LEQQIVW ERH TMTIW XLI QEREKIV SJ E
1SHIPP W 7TSVXMRK +SSHW [EW LERHMRK SYX EPP LMW FEWIFEPP FEXW ERH WLSYXMRK +IX
IQ MR XLI LIEH 8LIVI [EW XLMW SRI KY] SR VSPPIVFPEHIW ,I LEH E LSGOI] WXMGO MR
LMW LERH E FMK SPI QIEX GPIEZIV FSPXIH XS XLI FPEHI ,I [EW HSMRK ER IEW] XLMVX]
EX XLEX WTIIH LI QMKLX LEZI XEOIR E RIGO SV X[S 8LI GEQIVE WE[ XLI [LSPI XLMRK
XLI VSXXIH EVQ XLEX WLSX SYX SJ XLI WI[IV HVEMR VMKLX MR JVSRX SJ LMQ HMI TSSV KY]
FEGO JPMTTMRK MRXS XLI EMV GSQMRK HS[R LEVH SR LMW JEGI XLIR FIMRK HVEKKIH
WGVIEQMRK F] LMW TSR]XEMP MRXS XLI HVEMR %X XLEX QSQIRX XLI GEQIVE MR SYV PMZMRK
VSSQ W[YRK FEGO XS GEXGL XLI VIEG
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- . MH XSV XLI PMXXPI WTSMPIH [LSVI [LS GEPPIH XLI VSPPIVFPEHMRK KY] E HYQFEWW
,I] EX PIEWX WLI [EW FIMRK LSRIWX - VIQIQFIV - [EW WXERHMRK RI\X XS XLMW KY]
7IVKIM E QMWIVEFPI WEH JEGIH LYPOMRK QSXLIVJYGOIV ,MW WXSVMIW EFSYX KVS[MRK YT
MR 6YWWME GSRZMRGIH QI XLEX RSX EPP 8LMVH ;SVPH GIWWTSSPW LEH XS FI XVSTMGEP -X
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QYQFPIH
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EPEVQ KS SJJ
7SQIXLMRK LEH XVMKKIVIH XLI TVIWWYVI WIRWSVW [I H TPEGIH WIZIVEP QMPIW EVSYRH XLI
[EPP 8LI] [IVI WIRWMXMZI IRSYKL XS HIXIGX NYWX SRI ^SQFMI RS[ XLI] [IVI KSMRK
GVE^] 3YV VEHMSW [IVI WUYE[OMRK 'SRXEGX GSRXEGX WSYXL[IWX GSVRIV WLMX
XLIVI W LYRHVIHW SJ XLIQ -X [EW E HEQR FMK LSYWI MX XSSO QI E JI[ QMRYXIW XS
KIX XS Q] JMVMRK TSWMXMSR - HMHR X YRHIVWXERH [L] XLI PSSOSYX [EW WS RIVZSYW 7S
[LEX MJ XLIVI [IVI E GSYTPI LYRHVIH 8LI] H RIZIV KIX SZIV XLI [EPP 8LIR - LIEVH
LMQ WLSYX 8LI] VI
VYRRMRK ,SP] JYGO MR WLMX XLI] VI JEWX *EWX ^SQFMIW XLEX XYVRIH Q] KYX -J XLI]
GSYPH VYR XLI] GSYPH GPMQF MJ XLI] GSYPH GPMQF QE]FI XLI] GSYPH XLMRO ERH MJ
XLI] GSYPH XLMRO
RS[ - [EW WGEVIH - VIQIQFIV SYV FSWW W JVMIRHW [IVI EPP
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- JPMTTIH XLI WEJIX] SJJ Q] [IETSR ERH JPMTTIH XLI KYEVHW SJJ Q] WMKLX -X [EW SRI
SJ XLI RI[IWX +IR W E JYWMSR S_ PMKLX EQTPMJMGEXMSR ERH XLIVQEP MQEKMRK - HMHR X
RIIH XLI WIGSRH TEVX FIGEYWI +W KEZI SJJ RS FSH] LIEX 7S [LIR - WE[ XLI WIEVMRK
FVMKLX KVIIR WMKREXYVIW SJ WIZIVEP LYRHVIH VYRRIVW Q] XLVSEX XMKLXIRIH 8LSWI
[IVIR X PMZMRK HIEH
8LIVI MX MW - LIEVH XLIQ WLSYX 8LEX W XLI LSYWI SR XLI RI[W 8LI] [IVI
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XS XLIMV FEGOW 8LI] [IVI FSSOMRK MX JSV XLI JVSRX KEXI FMK XSYKL WXIIP XLEX [EW
WYTTSWIH XS WXST E XLSYWERH KLSYPW 8LI I\TPSWMSR XSVI XLIQ VMKLX SJJ XLIMV LMRKIW
WIRX XLIQ JPMTTMRK MRXS XLI LSYWI PMOI KMERX RMRNE WXEVW *MVI XLI FSWW [EW
WGVIEQMRK MRXS XLI VEHMS /RSGO IQ HS[R /MPP IQ 7LSSXWLSSXWLSSX
8LI EXXEGOIVW JSV PEGO SJ E FIXXIV PEFIP WXEQTIHIH JSV XLI LSYWI 8LI GSYVX]EVH
[EW JYPP SJ TEVOIH ZILMGPIW WTSVXW GEVW ERH ,YQQIVW ERH IZIR E QSRWXIV XVYGO
FIPSRKMRK XS WSQI 2*0 GEX *VIEOMR JMVIFEPPW EPP SJ XLIQ FPS[MRK SZIV SR XLIMV
WMHIW SV NYWX FYVRMRK MR TPEGI XLMW XLMGO SMP] WQSOI JVSQ XLIMV XMVIW FPMRHMRK ERH
GLSOMRK IZIV]SRI %PP ]SY GSYPH LIEV [EW KYRJMVI SYVW ERH XLIMVW ERH RSX NYWX SYV
TVMZEXI WIGYVMX] XIEQ %R] FMK WLSX [LS [EWR X GVETTMRK LMW TERXW IMXLIV LEH MX MR
LMW LIEH XS FI E LIVS SV
XIPI LI LEH XS TVSXIGX LMW VIT MR JVSRX SJ LMW TIITW % PSX SJ XLIQ HIQERHIH XLEX
XLIMV IRXSYVEKI TVSXIGX XLIQ 7SQI HMH XLIWI TSSV X[IRX] ]IEV SPH TIVWSREP
EWWMWXERXW [LS H RIZIV JMVIH E KYR MR XLIMV PMZIW 8LI] HMHR X PEWX ZIV] PSRK &YX
XLIR XLIVI [IVI EPWS HMI TISRW [LS XYVRIH ERH NSMRIH XLI EXXEGOIVW - WE[ XLMW SRI
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XEPIRX WLS[ KY] FIJSVI MX [IRX SJJ MR XLIMV LERHW
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PSSO PMOI 4EVX SJ XLI LSYWI [EW FYVRMRK FPSSH IZIV][LIVI FSHMIW SV FMXW SJ XLIQ
WTI[IH SZIV EPP XLEX I\TIRWMZI WXYJJ - QIX XLI [LSVI W VEX HSK EW [I [IVI FSHM
LIEHMRK JSV XLI FEGO HSSV ,I PSSOIH EX QI - PSSOIH EX LMQ -J MX H FIIR E
GSRZIVWEXMSR MX TVSFEFP] [SYPHE KSRI PMOI ;LEX EFSYX ]SYV QEWXIV# ;LEX
EFSYX ]SYVW# *YGO IQ 8LEX [EW XLI EXXMXYHI EQSRK E PSX SJ XLI LMVIH KYRW XLI
VIEWSR - LEHR X JMVIH E WLSX EPP RMKLX ;I H FIIR TEMH XS TVSXIGX VMGL TISTPI JVSQ
^SQFMIW RSX EKEMRWX SXLIV RSX WS VMGL TISTPI [LS NYWX [ERXIH E WEJI TPEGI XS LMHI
=SY GSYPH LIEV XLIQ WLSYXMRK EW XLI] GLEVKIH MR XLVSYKL XLI JVSRX HSSV 2SX KVEF
XLI FSS^I SV VETI XLI FMXGLIW MX [EW TYX SYX XLI JMVI ERH KIX XLI [SQIR ERH
OMHW YTWXEMVW
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XLMW GLMGO XLMW PIEXLIV] SPH FPSRHI [LS - XLSYKLX [EW WYTTSWIH XS FI LMW TSPMXMGEP
IRIQ] [IVI KSMR EX MX PMOI XLIVI [EW RS XSQSVVS[ ERH LI] QE]FI JSV XLIQ
XLIVI [EWR X - QEHI MX SYX XS HMI WERH JSYRH E WYVJFSEVH TVSFEFP] [SVXL QSVI
XLER XLI LSYWI - KVI[ YT MR ERH WXEVXIH
TEHHPMRK JSV XLI PMKLXW SR XLI LSVM^SR 8LIVI [IVI E PSX SJ FSEXW SR XLI [EXIV XLEX
RMKLX E PSX SJ TISTPI KIXXY: SYXXE (SHKI - LSTIH SRI SJ XLIQ QMKLX KMZI QI E
VMHI EW JEV EW 2I[ =SVO ,EVFSV ,STIJYPP] - GSYPH FVMFI XLIQ [MXL E TEMV SJ
HMEQSRH IEVVMRKW
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NYWX Q] FSWW FYX EPP SJ XLSWI TEQTIVIH TEVEWMXIW 8LI] LEH XLI
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+VIIRPERH SV NYWX WXE] [LIVI XLI] [IVI FYX WXE] XLI LIPP SYXXE XLI TYFPMG I]I &YX
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[LEX QEHI XLIQ [LS XLI] [IVI MR XLI JMVWX TPEGI &YX [LEX XLI LIPP HS - ORS[
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QE^I FIPS[ *I[ SJ XLI UYEVXIV QMPPMSR TISTPI [LS SRGI MRLEFMXIH XLMW LERH GEVZIH
QEVZIP SJ IRKMRIIVMRK LEZI VIQEMRIH 7SQI WXE] XS IRGSYVEKI XLI WQEPP FYX
KVS[MRK XSYVMWX XVEHI 7SQI EVI LIVI EW GYWXSHMERW PMZMRK SR XLI TIRWMSR XLEX KSIW
[MXL 92)7'3 W VIRI[IH ;SVPH ,IVMXEKI 4VSKVEQ 7SQI PMOI %LQIH *EVELREOMER
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4EGX -J X[S WMHIW [IVI KSMRK XS YWI RYGPIEV [IETSRW EKEMRWX IEGL SXLIV MX LEH XS
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[L] MX HMHR X LETTIR &IGEYWI XLI HERKIV [EW WS SQRMTVIWIRX EPP XLI QEGLMRIV]
LEH FIIR TYX MR TPEGI SZIV HMI ]IEVW XS EZSMH MX 8LI LSXPMRI FIX[IIR XLI X[S
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TVSGIWW [EW XVEMRIH XS QEOI WYVI XLI HE] XLI] EPP JIEVIH RIZIV GEQI 2S SRI GSYPH
LEZI MQEKMRIH - GIVXEMRP] HMHR X XLEX IZIRXW [SYPH YRJSPH EW XLI] HMH
8LI MRJIGXMSR LEHR X LMX YW EW LEVH EW WSQI SXLIV GSYRXVMIW 3YV PERH [EW ZIV]
QSYRXEMRSYW 8VERWTSVXEXMSR [EW HMJJMGYPX 3YV TSTYPEXMSR [EW VIPEXMZIP] WQEPP
KMZIR XLI WM^I SJ SYV GSYRXV] ERH [LIR ]SY GSRWMHIV XLEX QER] SJ SYV GMXMIW GSYPH
FI IEWMP] MWSPEXIH F] E TVSTSVXMSREXIP] PEVKI QMPMXEV] MX MW RSX HMJJMGYPX XS WII LS[
STXMQMWXMG SYV PIEHIVWLMT [EW
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EGVSWW &EPYGLMWXER XLVS[MRK SYV TPERW MRXS HMWEVVE] 7S QER] EVIEW [IVI EPVIEH]
MRJIGXIH KVIEX W[EVQW WPSYGLMRK XS[EVH SYV GMXMIW 3YV FSVHIV KYEVHW [IVI
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GPSWI XLI FSVHIV ERH EX XLI WEQI XMQI HIEP [MXL SYV S[R SYXFVIEOW
;I HIQERHIH XLEX XLI 4EOMWXERMW KIX GSRXVSP SJ HMIMV TISTPI 8LI] EWWYVIH YW XLI]
[IVI HSMRK EPP XLI] GSYPH ;I ORI[ XLI] [IVI P]MRK
8LI QENSVMX] SJ VIJYKIIW GEQI JVSQ -RHME NYWX TEWWMRK XLVSYKL 4EOMWXER MR ER
EXXIQTX XS VIEGL WSQITPEGI WEJI 8LSWI MR -WPEQEFEH [IVI UYMXI [MPPMRK XS PIX XLIQ
KS &IXXIV XS TEWW XLI TVSFPIQ EPSRK XS ERSXLIV REXMSR XLER LEZI XS HIEP [MXL MX
XLIQWIPZIW 4IVLETW MJ [I GSYPH LEZI GSQFMRIH SYV JSVGIW GSSVHMREXIH E NSMRX
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MR JMKLXMRK LSPIW ;I [EWXIH WS QYGL XMQI WS QYGL IRIVK] TVITEVMRK XLIWI
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MX
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,EZI ]SY IZIV WIIR XLI IJJIGXW SJ E XLIVQSFEVMG [IETSR# ,EZI ]SY IZIV EWOIH
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XLI JYPP WXSV] =SY PP LIEV EFSYX LIEX ERH TVIWWYVI XLI JMVIFEPP XLEX GSRXMRYIW
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,IEX ERH TVIWWYVI XLEX W [LEX XLIVQSFEVMG QIERW 7SYRHW REWX] IRSYKL VMKLX#
;LEX ]SY [SR X LIEV EFSYX MW XLI MQQIHMEXI EJXIVIJJIGX XLI ZEGYYQ GVIEXIH [LIR
XLEX JMVIFEPP WYHHIRP] GSRXVEGXW %R]SRI PIJX EPMZI [MPP IMXLIV LEZI XLI EMV WYGOIH
VMKLX SYX SJ XLIMV PYRKW SV ERH XLI] PP RIZIV EHQMX XLMW XS ER]SRI LEZI XLIMV PYRKW
VMTTIH VMKLX SYX SJ XLIMV QSYXL 3FZMSYWP] RS SRI W KSMRK XS PMZI PSRK IRSYKL XS
XIPP XLEX OMRH SJ LSVVSV WXSV] TVSFEFP] [L] XLI 4IRXEKSR W FIIR WS KSSH EX
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VIEP [EPOMRK WTIGMQIR ERH LI W KSX FSXL EMV FEKW ERH [MRHTMTI NYWX HERKPMRK SYX
JVSQ LMW PMTW QEOI WYVI ]SY KMZI LMQ Q] RYQFIV - Q EP[E]W YT JSV QIIXMRK
ERSXLIV ZIXIVER SJ =SROIVW
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ERH MRWMWXW SR GPIEVMRK XLI RSXIW SJJ LMW HIWO FIJSVI [I GSRXMRYI 1MWXIV %^ERME MW
LEPJ[E] XLVSYKL LMW XLMVH ZSPYQI SJ 6EMRFS[ *MWX 7SYXL %JVMGE EX ;EV 8LMW ZSPYQI
LETTIRW XS FI EFSYX XLI WYFNIGX [I EVI HMWGYWWMRK XLI XYVRMRK TSMRX EKEMRWX XLI
PMZMRK HIEH XLI QSQIRX [LIR LMW GSYRXV] TYPPIH MXWIPJ FEGO JVSQ XLI FVMRO A
(MWTEWWMSREXI E VEXLIV QYRHERI [SVH XS HIWGVMFI SRI SJ LMWXSV] W QSWX
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FYX MJ ]SY IZIV QIX 4EYP 6IHIOIV IZIV HMWGYWWIH LMW ZMI[W SJ XLI [SVPH ERH XLI
TVSFPIQW SV QSVI MQTSVXERXP] XLI WSPYXMSRW XS XLI TVSFPIQW XLEX TPEKYI XLI
[SVPH TVSFEFP] XLI SRI [SVH XLEX [SYPH EP[E]W GPMRK XS ]SYV MQTVIWWMSR SJ XLI
QER MW HMWTEWWMSREXI
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WLSYPH SRP] I\MWX XS TYQT FPSSH XS XLI FVEMR XLEX ER]XLMRK IPWI [EW E [EWXI SJ
XMQI ERH IRIVK] ,MW TETIVW JVSQ YRMZIVWMX] EPP HIEPMRK [MXL EPXIVREXI WSPYXMSRW
XS LMWXSVMGEP WSGMIXEP UYERHEVMIW [IVI [LEX JMVWX FVSYKLX LMQ XS XLI EXXIRXMSR SJ
XLI ETEVXLIMH KSZIVRQIRX 1ER] TW] GLSFMSKVETLIVW LEZI XVMIH XS PEFIP LMQ E
VEGMWX FYX MR LMW S[R [SVHW VEGMWQ MW E VIKVIXXEFPI F] TVSHYGX SJ MVVEXMSREP
IQSXMSR 3XLIVW LEZI EVKYIH XLEX MR SVHIV JSV E VEGMWX XS LEXI SRI KVSYT LI QYWX
EX PIEWX PSZI ERSXLIV 6IHIOIV FIPMIZIH FSXL PSZI ERH LEXI XS FI MVVIPIZERX 8S LMQ
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LYQERMX] )ZMP# 1SWX [SYPH GEPP MX XLEX [LMPI SXLIVW TEVXMGYPEVP] XLEX
WQEPP GEHVI MR XLI GIRXIV SJ 4VIXSVME W TS[IV FIPMIZIH MX XS FI ER MRZEPYEFPI
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-X [EW XLI IEVP]
W E GVMXMGEP XMQI JSV XLI ETEVXLIMH KSZIVRQIRX 8LI GSYRXV]
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4EVX] ]SY IZIR LEH I\XVIQMWX VMKLX [MRK IPIQIRXW SJ XLI %JVMOERIV TSTYPEXMSR
XLEX [SYPH LEZI PMOIH RSXLMRK FIXXIV XLER STIR VIZSPX MR SVHIV XS FVMRK EFSYX E
GSQTPIXI VEGMEP WLS[HS[R 3R LIV FSVHIV 7SYXL %JVMGE JEGIH RSXLMRK FYX LSWXMPI
REXMSRW ERH MR XLI GEWI SJ %RKSPE E 7SZMIX FEGOIH 'YFEMZWTIEVLIEHIH GMZMP [EV
%HH XS XLMW QM\XYVI E KVS[MRK MWSPEXMSR JVSQ XLI ;IWXIVR HIQSGVEGMIW [LMGL
MRGPYHIH E GVMXMGEP EVQW IQFEVKS ERH MX [EW RS WYVTVMWI XLEX E PEWX HMXGL XMKLX JSV
WYVZMZEP [EW RIZIV JEV JVSQ 4VIXSVME W QMRH
8LMW MW [L] XLI] IRPMWXIH XLI EMH SJ 1MWXIV 6IHIOIV XS VIZMWI XLI KSZIVR QIVMX W
YPXVEWIGVIX 4PER 3VERKI 3VERKI LEH FIIR MR I\MWXIRGI WMRGI XLI ETEVXLIMH
KSZIVRQIRX JMVWX GEQI XS TS[IV MR
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GSYRXV] W [LMXI QMRSVMX] XLI TPER XS HIEP [MXL ER EPP SYX YTVMWMRK SJ MXW MRHMKIRSYW
%JVMGER TSTYPEXMSR 3ZIV XLI ]IEVW MX LEH FIIR YTHEXIH [MXL XLI GLERKMRK WXVEXIKMG
SYXPSSO SJ XLI VIKMSR )ZIV] HIGEHI XLEX WMXYEXMSR KVI[ QSVI ERH QSVI KVMQ ;MXL
QYPXMTP]MRK MRHITIRHIRGI SJ LIV RIMKLFSV WXEXIW ERH QYPXMTP]MRK ZSMGIW JSV
JVIIHSQ JVSQ XLI QENSVMX] SJ LIV S[R TISTPI XLSWI MR 4VIXSVME VIEPM^IH XLEX E JYPP
FPS[R
GSRJVSRXEXMSR QMKLX RSX NYWX QIER XLI IRH JSV XLI %JVMOERIV KSZIVRQIRX FYX XLI
%JVMOERIVW XLIQWIPZIW
8LMW MW [LIVI 6IHIOIV WXITTIH MR ,MW VIZMWIH 4PER 3VERKI ETTVSTVMEXIP]
GSQTPIXIH MR
[EW XLI YPXMQEXI WYVZMZEP WXVEXIK] JSV XLI %JVMOERIV TISTPI 2S
ZEVMEFPI [EW MKRSVIH 4STYPEXMSR JMKYVIW XIVVEMR VIWSYVGIW PSKMWXMGW
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RSX SRP] YTHEXIH XLI TPER XS MRGPYHI FSXL 'YFE W GLIQMGEP [IETSRW ERH LMW S[R
GSYRXV] W RYGPIEV STXMSR FYX EPWS ERH XLMW MW [LEX QEHI 3VERKI )MKLX] *SYV WS
LMWXSVMG XLI HIXIVQMREXMSR SJ [LMGL %JVMOERIVW [SYPH FI WEZIH ERH [LMGL LEH XS
FI WEGVMJMGIH
7EGVMJMGIH#
6IHIOIV FIPMIZIH XLEX XS XV] XS TVSXIGX IZIV]SRI [SYPH WXVIXGL XLI KSZIVRQIRX W
VIWSYVGIW XS XLI FVIEOMRK TSMRX XLYW HSSQMRK XLI IRXMVI TSTYPEXMSR ,I GSQTEVIH
MX XS WYVZMZSVW JVSQ E WMROMRK WLMT GETWM^MRK E PMJIFSEX XLEX WMQTP] HMH RSX LEZI
VSSQ JSV XLIQ EPP 6IHIOIV LEH IZIR KSRI WS JEV EW XS GEPGYPEXI [LS WLSYPH FI
FVSYKLX EFSEVH ,I MRGPYHIH MRGSQI -5 JIVXMPMX] ER IRXMVI GLIGOPMWX SJ
HIWMVEFPI UYEPMXMIW MRGPYHMRK XLI WYFNIGX W PSGEXMSR XS E TSXIRXMEP GVMWMW ^SRI
8LI JMVWX GEWYEPX] SJ XLI GSRJPMGX QYWX FI SYV S[R WIRXMQIRXEPMX] [EW XLI GPSWMRK
WXEXIQIRX XSV LMW TVSTSWEP JSV MXW WYVZMZEP [MPP QIER SYV HIWXVYGXMSR
3VERKI )MKLX] *SYV [EW E FVMPPMERX TPER -X [EW GPIEV PSKMGEP IJJMGMIRX ERH MX
QEHI 4EYP 6IHIOIV SRI SJ XLI QSWX LEXIH QIR MR 7SYXL %JVMGE ,MW JMVWX IRIQMIW
[IVI WSQI SJ HMI QSVI VEHMGEP JYRHEQIRXEPMWX %JVMOERIVW XLI VEGMEP MHISPSKYIW
ERH XLI YPXVEVIPMKMSYW 0EXIV EJXIV XLI JEPP SJ
ETEVXLIMH LMW REQI FIKER GMVGYPEXMRK EQSRK XLI KIRIVEP TSTYPEXMSR 3J GSYVWI LI
[EW MRZMXIH XS ETTIEV FIJSVI XLI 8VYXL ERH 6IGSRGMPMEXMSR LIEVMRKW ERH SJ
GSYVWI LI VIJYWIH - [SR X TVIXIRH XS LEZI E LIEVX WMQTP] XS WEZI Q] WOMR LI
WXEXIH TYFPMGP] EHHMRK 2S QEXXIV [LEX - HS - Q WYVI XLI] [MPP GSQI JSV QI
ER][E]
%RH XLI] HMH EPXLSYKL MX TVSFEFP] [EW RSX MR XLI QERRIV 6IHIOIV GSYPH LEZI
I\TIGXIH -X [EW HYVMRK SYV +VIEX 4ERMG [LMGL FIKER WIZIVEP [IIOW FIJSVI ]SYVW
6IHIOIV [EW LSPIH YT MR XLI (VEOIRWFIVK GEFMR LI LEH FSYKLX [MXL XLI
EGGYQYPEXIH TVSJMXW SJ E FYWMRIWW GSRWYPXERX ,I PMOIH
1E\ &VSSOW
FYWMRIWW ]SY ORS[ 3RI KSEP RS WSYP LI YWIH XS WE] ,I [EWR X WYVTVMWIH [LIR
XLI HSSV FPI[ SJJ MXW LMRKIW ERH EKIRXW SJ XLI 2EXMSREP -RXIPPMKIRGI %KIRG] VYWLIH
MR 8LI] GSRJMVQIH LMW REQI LMW MHIRXMX] LMW TEWX EGXMSRW 8LI] EWOIH LMQ TSMRX
FPERO MJ LI LEH FIIR XLI EYXLSV SJ 3VERKI )MKLX] *SYV ,I ERW[IVIH [MXLSYX
IQSXMSR REXYVEPP] ,I WYWTIGXIH ERH EGGITXIH XLMW MRXVYWMSR EW E PEWX QMRYXI
VIZIRKI OMPPMRK XLI [SVPH [EW KSMRK XS LIPP ER][E] [L] RSX XEOI E JI[
ETEVXLIMH HIZMPW HS[R JMVWX ;LEX LI GSYPH LEZI RIZIV TVIHMGXIH [EW XLI WYHHIR
PS[IVMRK SJ XLIMV JMVIEVQW ERH XLI VIQSZEP SJ XLI KEW QEWOW SJ XLI 2-% EKIRXW
8LI] [IVI SJ EPP GSPSVW FPEGO
%WMER GSPSVIH ERH IZIR E [LMXI QER E 8EPP %JVMOERIV [LS WXITTIH JSV[EVH ERH
[MXLSYX KMZMRK LMW REQI SV VERO EWOIH EFVYTXP]
=SY ZI KSX E TPER JSV XLMW
QER (SR X ]SY#
6IHIOIV LEH MRHIIH FIIR [SVOMRK SR LMW S[R WSPYXMSR XS XLI YRHIEH ITMHIQMG
;LEX IPWI GSYPH LI HS MR XLMW MWSPEXIH LMHIE[E]# -X LEH FIIR ER MRXIPPIGXYEP
I\IVGMWI LI RIZIV FIPMIZIH ER]SRI [SYPH LI PIJX XS VIEH MX -X LEH RS REQI EW
I\TPEMRIH PEXIV FIGEYWI REQIW SRP] I\MWX XS HMWXMRKYMWL SRI JVSQ SXLIVW ERH
YRXMP XLEX QSQIRX XLIVI LEH FIIR RS SXLIV TPER PMOI LMW 3RGI EKEMR 6IHIOIV LEH
XEOIR IZIR XLMRK MRXS EGGSYRX RSX SRP] XLI WXVEXIKMG WMXYEXMSR SJ XLI GSYRXV] FYX
EPWS XLI TL]WMSPSK] FILEZMSV ERH GSQFEX HSGXVMRI SJ XLI PMZMRK HIEH ;LMPI ]SY
GER VIWIEVGL XLI HI XEMPW SJ XLI 6IHIOIV 4PER MR ER] TYFPMG PMFVEV] EVSYRH XLI
[SVPH LIVI EVI WSQI SJ XLI JYRHEQIRXEP OI]W
*MVWX SJ EPP XLIVI [EW RS [E] XS WEZI IZIV]SRI 8LI SYXFVIEO [EW XSS JEV KSRI
8LI EVQIH JSVGIW LEH EPVIEH] FIIR XSS FEHP] [IEOIRIH XS IJJIGXMZIP] MWSPEXI XLI
XLVIEX ERH WTVIEH WS XLMRP] XLVSYKLSYX XLI GSYRXV] XLI] GSYPH SRP] KVS[ [IEOIV
[MXL IEGL TEWWMRK HE] 3YV JSVGIW LEH XS FI GSRWSPMHEXIH [MXLHVE[R XS E WTIGMEP
WEJI ^SRI [LMGL LSTIJYPP] [SYPH LI EMHIH F] WSQI REXYVEP SFWXEGPI WYGL EW
QSYRXEMRW VMZIVW SV IZIR ER SJJWLSVI MWPERH 3RGI GSRGIRXVEXIH [MXLMR XLMW ^SRI
XLI EVQIH JSVGIW GSYPH IVEHMGEXI XLI MRJIWXEXMSR [MXLMR MXW FSVHIVW XLIR YWI [LEX
VIWSYVGIW [IVI EZEMPEFPI XS HIJIRH MX EKEMRWX JYVXLIV SRWPEYKLXW SJ XLI PMZMRK HIEH
8LEX [EW XLI JMVWX TEVX SJ XLI TPER ERH MX QEHI EW QYGL WIRWI EW ER] GSRZIRXMSREP
QMPMXEV] VIXVIEX
8LI WIGSRH TEVX SJ XLI TPER HIEPX [MXL XLI IZEGYEXMSR SJ GMZMPMERW ERH
XLMW GSYPH RSX LEZI FIIR IRZMWMSRIH F] ER]SRI IPWI FYX 6IHIOIV -R LMW QMRH SRP]
E WQEPP JVEGXMSR SJ XLI GMZMPMER TSTYPEXMSR GSYPH FI IZEGYEXIH XS XLI WEJI ^SRI
8LIWI TISTPI [SYPH FI WEZIH RSX SRP] XS TVSZMHI E PEFSV TSSP JSV XLI IZIRXYEP
[EVXMQI IGSRSQMG VIWXSVEXMSR FYX EPWS XS TVIWIVZI XLI PIKMXMQEG] ERH WXEFMPMX] SJ
XLI KSZIVRQIRX XS TVSZI XS XLSWI EPVIEH] [MXLMR XLI ^SRI XLEX XLIMV PIEHIVW [IVI
PSSOMRK SYX JSV XLIQ
8LIVI [EW ERSXLIV VIEWSR JSV XLMW TEVXMEP IZEGYEXMSR ER IQMRIRXP] PSKMGEP ERH
MRWMHMSYWP] HEVO VIEWSR XLEX QER] FIPMIZI [MPP JSVIZIV IRWYVI 6IHIOIV XLI XEPPIWX
TIHIWXEP MR XLI TERXLISR SJ LIPP 8LSWI [LS [IVI PIJX FILMRH [IVI XS FI LIVHIH
MRXS WTIGMEP MWSPEXIH ^SRIW 8LI] [IVI XS FI LYQER FEMX HMWXVEGXMRK XLI YRHIEH
JVSQ JSPPS[MRK XLI VIXVIEXMRK EVQ] XS XLIMV WEJI ^SRI 6IHIOIV EVKYIH XLEX XLIWI
MWSPEXIH YRMRJIGXIH VIJYKIIW QYWX FI OITX EPMZI [IPP HIJIRHIH ERH IZIR
VIWYTTPMIH MJ TSWWMFPI WS EW XS OIIT XLI YRHIEH LSVHIW JMVQP] VSSXIH XS XLI WTSX
=SY WII XLI KIRMYW XLI WMGORIWW /IITMRK TISTPI EW TVMWSRIVW FIGEYWI IZIV]
^SQFMI FIWMIKMRK XLSWI WYVZMZSVW [MPP FI SRI PIWW ^SQFMI XLVS[MRK MXWIPJ EKEMRWX
SYV HIJIRWIW 8LEX [EW XLI QSQIRX [LIR XLI %JVMOERIV EKIRX PSSOIH YT EX
6IHIOIV GVSWWIH LMQWIPJ ERH WEMH +SH LIPT ]SY QER %RSXLIV SRI WEMH +SH
LIPT YW EPP 8LEX [EW XLI FPEGO SRI [LS ETTIEVIH XS FI MR GLEVKI SJ XLI STIVEXMSR
2S[ PIXW KIX LMQ SYX SJ LIVI
;MXLMR QMRYXIW XLI] [IVI SR E LIPMGSTXIV JSV /MQFIVPI] XLI ZIV] YRHIVKVSYRH
FEWI [LIVI 6IHIOIV LEH JMVWX [VMXXIR 3VERKI )MKLX] *SYV ,I [EW YWLIVIH MRXS E
QIIXMRK SJ XLI TVIWMHIRX W WYVZMZMRK GEFMRIX [LIVI LMW VITSVX [EW VIEH EPSYH XS XLI
VSSQ =SY WLSYPH LEZI LIEVH XLI YTVSEV [MXL RS ZSMGI PSYHIV XLER XLI HIJIRWI
QMRMWXIVW ,I [EW E >YPY E JIVS
GMSYW QER [LS H VEXLIV FI JMKLXMRK MR XLI WXVIIXW XLER GS[IVMRK MR E FYROIV
8LI ZMGI TVIWMHIRX [EW QSVI GSRGIVRIH EFSYX TYFPMG VIPEXMSRW ,I HMHR X [ERX XS
MQEKMRI [LEX LMW FEGOWMHI [SYPH FI [SVXL MJ RI[W SJ XLMW TPER IZIV PIEOIH XS XLI
TSTYPEXMSR
8LI TVIWMHIRX PSSOIH EPQSWX TIVWSREPP] MRWYPXIH F] 6IHIOIV ,I TL]WMGEPP]
KVEFFIH XLI PETIPW SJ XLI WEJIX] ERH WIGYVMX] QMRMWXIV ERH HIQERHIH [L] MR LIPP LI
FVSYKLX LMQ XLMW HIQIRXIH ETEVXLIMH [EV GVMQMREP
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IWTIGMEPP] [LIR MX [EW LI [LS KEZI XLI SVHIV XS JMRH 6IHIOIV
8LI TVIWMHIRX XLVI[ LMW LERHW MR XLI EMV ERH WLSYXIH XLEX LI RIZIV KEZI WYGL ER
SVHIV ERH XLIR JVSQ WSQI[LIVI MR XLI VSSQ E JEMRX ZSMGI WEMH - HMH
,I LEH FIIR WMXXMRK EKEMRWX XLI FEGO [EPP RS[ LI WXSSH LYRGLIH SZIV F] EKI ERH
WYTTSVXIH F] GERIW FYX [MXL E WTMVMX EW WXVSRK ERH ZMXEP EW MX LEH IZIV FIIR 8LI
IPHIV WXEXIWQER XLI JEXLIV SJ SYV RI[ HIQSGVEG] XLI QER [LSWI FMVXL REQI LEH
FIIR 6SPMLPELPE [LMGL WSQI LEZI XVERWPEXIH
WMQTP] MRXS 8VSYFPIQEOIV %W LI WXSSH EPP SXLIVW WEX EPP SXLIVW I\GITX 4EYP
6IHIOIV 8LI SPH QER PSGOIH I]IW SR LXQ WQMPIH [MXL XLEX [EVQ WUYMRX WS
JEQSYW XLI [SVPH SZIV ERH WEMH 1SPS QLPSFS [EVR +VIIXMRKW TIVWSR SJ Q]
VIKMSR ,I [EPOIH WPS[P] SZIV XS 4EYP XYVRIH XS XLI KSZIVR MRK FSH] SJ 7SYXL
%JVMGE XLIR PMJXIH XLI TEKIW JVSQ XLI %JVMOERIV W LERH ERH WEMH MR E WYHHIRP] PSYH
ERH ]SYXLJYP ZSMGI 8LMW TPER [MPP WEZI SYV TISTPI 8LIR KIWXYVMRK XS 4EYP LI
WEMH 8LMW QER [MPP WEZI SYV TISTPI %RH XLIR GEQI XLEX QSQIRX XLI SRI XLEX
LMWXSVMERW [MPP TVSFEFP] HIFEXI YRXMP XLI WYFNIGX JEHIW JVSQ QIQSV] ,I IQFVEGIH
XLI [LMXI %JVMOERIV 8S ER]SRI IPWI XLMW [EW WMQTP] LMW WMKREXYVI FIEV LYK FYX XS
4EYP 6IHIOIV
- ORS[ XLEX XLI QENSVMX] SJ TW]GLSFMSKVETLIVW GSRXMRYI XS TEMRX
XLMW QER [MXLSYX E WSYP 8LEX MW XLI KIRIVEPP] EGGITXIH RSXMSR 4EYP 6IHIOIV RS
JIIPMRKW RS GSQTEWWMSR RS LIEVX ,S[IZIV SRI SJ SYV QSWX VIZIVIH EYXLSVW
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WIRWMXMZI QER XSS WIRWMXMZI MR JEGX JSV PMJI MR ETEVXLIMH 7SYXL %JVMGE ,I MRWMWXW
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JVSQ XLI LEXVIH ERH FVYXEPMX] LI [MXRIWWIH SR E HEMP] FEWMW 2SX QYGL MW ORS[R
EFSYX 6IHIOIV W GLMPHLSSH [LIXLIV LI IZIR LEH TEVIRXW SV [EW VEMWIH F] XLI
WXEXI [LIXLIV LI LEH JVMIRHW SV [EW IZIV PSZIH MR ER] [E] 8LSWI [LS ORI[ LMQ
JVSQ [SVO [IVI LEVH TVIWWIH XS VIQIQFIV [MXRIWWMRK ER] WSGMEP MRXIVEGXMSR SV
IZIR ER] TL]WMGEP EGX SJ [EVQXL 8LI IQFVEGI F] SYV REXMSR W JEXLIV XLMW KIRYMRI
IQSXMSR TMIVGMRK LMW MQTIRIXVEFPI WLIPP
P%^ERME WQMPIW WLIITMWLP] A
4IVLETW XLMW MW EPP XSS WIRXMQIRXEP *SV EPP [I ORS[ LI [EW E LIEVXPIWW QSRWXIV
ERH XLI SPH QER W IQFVEGI LEH EFWSPYXIP] RS MQTEGX &YX - GER XIPP ]SY XLEX XLEX
[EW XLI PEWX HE] ER]SRI IZIV WE[ 4EYP 6IHIOIV )ZIR RS[ RS SRI ORS[W [LEX
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6IHIOIV 4PER [EW MQTPIQIRXIH XLVSYKLSYX XLI GSYRXV] -X XSSO WSQI GSRZMRGMRK
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FIEXIR FEHP] XLVII [IVI WXEFFIH SRI [EW WLSX F] E JVMKLXIRIH KVERHJEXLIV [MXL E
VYWX] SPH 8SOEVIZ - Q WYVI LI [EW HIEH FIJSVI LMXXMRK XLI [EXIV
- [EWR X XLIVI ]SY YRHIVWXERH - [EW SR XLI VEHMS XV]MRK XS GEPP JSV WYTTSVX ,IPT MW
GSQMRK XLI] OITX WE]MRK HS RSX FVIEO HS RSX HIWTEMV LIPT MW GSQMRK
%GVSWW XLI (RMITIV /MIZ FYVRIH &PEGO TMPPEVW VSWI JVSQ XLI GMX] GIRXIV ;I [IVI
HS[R[MRH XLI WXIRGL [EW XIVVMFPI XLI [SSH ERH VYFFIV ERH WXMRO SJ FYVRMRK JPIWL
;I HMHR X ORS[ LS[ JEV XLI] [IVI RS[ QE]FI E OMPSQIXIV QE]FI PIWW 9T SR XLI
LMPP XLI JMVI LEH IRKYPJIH XLI QSREWXIV] +SHHEQR XVEKIH] ;MXL MXW LMKL [EPPW MXW
WXVEXIKMG PSGEXMSR [I GSYPH LEZI QEHI E WXERH %R] JMVWX ]IEV GEHIX GSYPH LEZI
XYVRIH MX MRXS ER MQTVIKREFPI JSVXVIWW WXSGOIH XLI FEWIQIRXW WIEPIH XLI KEXIW ERH
QSYRXIH WRMTIVW MR XLI XS[IVW 8LI] GSYPH LEZI GSZIVIH XLI FVMHKI JSV
JYGOMRK
JSVIZIV
- XLSYKLX - LIEVH WSQIXLMRK E WSYRH JVSQ XLI SXLIV FERO
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IZIR
SZIV XLI WLSYXW XLI GYVWIW XLI LSROMRK LSVRW XLI HMWXERX WRMTIV JMVI ]SY ORS[
XLEX WSYRH
?,I EXXIQTXW XS QMQMG XLIMV QSER FYX GSPPETWIW MRXS YRGSRXVSPPIH GSYKLW ,I LSPHW LMW
LERHOIVGLMIJ YT XS LMW JEGI -X GSQIW E[E] FPSSH] A
8LEX WSYRH [EW [LEX TYPPIH QI E[E] JVSQ XLI VEHMS - PSSOIH SZIV EX XLI GMX]
7SQIXLMRK GEYKLX Q] I]I WSQIXLMRK EFSZI XLI VSSJXSTW ERH GPSWMRK JEWX
8LI NIX WXVIEOIH SZIV YW EX XVIIXST PIZIP 8LIVI [IVI JSYV SJ XLIQ 7YOLSM
6SSOW GPSWI ERH PS[ IRSYKL XS MHIRXMJ] F] WMKLX ;LEX XP\I LIPP - XLSYKLX EVI
XLI] KSMRK XS XV] XS GSZIV XLI FVMHKI W ETTVSEGL# 1E]FI FSQF XLI EVIE FILMRH MX#
-X LEH [SVOIH EX 6SZRS EX PIEWX JSV E JI[ QMRYXIW 8LI 6SSOW GMVGPIH EW MJ
GSRJMVQMRK XLIMV XEVKIXW XLIR FEROIH PS[ ERH GEQI WXVEMKLX EX YW (IZMP W QSXLIV XLSYKLX XLI] EVI KSMRK XS FSRMF XLI FVMHKI 8LI] H KMZIR YT SR XLI IZEGYEXMSR ERH
[IVI KSMRK XS OMPP IZIV]SRI
3JJ XLI FVMHKI - WXEVXIH WLSYXMRK )ZIV]SRI KIX SJJ 4ERMG WLSX XLVSYKL XLI
GVS[H =SY GSYPH WII MX PMOI E [EZI PMOI E GYVVIRX SJ IPIGXVMG MX] 4ISTPI WXEVXIH
WGVIEQMRK XV]MRK XS TYWL JSV[EVH FEGO MRXS SRI ERSXLIV (S^IRW [IVI NYQTMRK
MRXS XLI [EXIV [MXL LIEZ] GPSXLIW ERH WLSIW XLEX TVIZIRXIH XLIQ JVSQ W[MQQMRK
- [EW TYPPMRK TISTPI EGVSWW XIPPMRK XLIQ XS VYR - WE[ XLI FSQFW VIPIEWIH XLSYKLX
QE]FI - GSYPH HMZI EX XLI PEWX QSQIRX WLMIPH Q]WIPJ JVSQ XLI FPEWX 8LIR XLI
TEVEGLYXIW STIRIH ERH - ORI[ -R E WTPMX WIGSRH - [EW
YT ERH HEWLMRK PMOI E JVMKLXIRIH VEFFMX &YXXSR YT - WGVIEQIH &YXXSR YT PIETX SRXS XLI RIEVIWX XERO WPEQQIH XLI LEXGL HS[R ERH SVHIVIH XLI GVI[ XS
GLIGO XLI WIEPW 8LI XERO [EW ER SFWSPIXI 8
;I GSYPHR X ORS[ MJ XLI
SZIVTVIWWYVI W]WXIQ WXMPP [SVOIH LEHR X XIWXIH MX MR ]IEVW %PP [I GSYPH HS [EW
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HVMZIV [EW JVS^IR XLI GSQQERHIV E NYRMSV WIVKIERX NYWX X[IRX] ]IEVW SPH [EW
FEPPIH YT SR XLI JPSSV GPYXGLMRK XLI PMXXPI GVSWW LI LEH EVSYRH LMW RIGO - TYX Q]
LERH SR XLI XST SJ LMW LIEH EWWYVIH LMQ [I [SYPH FI JMRI [LMPI OIITMRK Q] I]IW
KPYIH XS XLI TIVMWGSTI
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6:< HSIWR X WXEVX SYX EW E KEW ]SY WII -X WXEVXW SYX EW VEMR XMR] SMP] HVSTPIXW XLEX
GPMRK XS [LEXIZIV XLI] GSRXEGX -X IRXIVW XLVSYKL XLI TSVIW XLI I]IW XLI PYRKW
(ITIRHMRK SR XLI HSWEKI XLI IJJIGXW GER FI MRWXERXERISYW - GSYPH WII XLI
IZEGYIIW PMQFW FIKMR XS XVIQFPI EVQW JEPPMRK XS XLIMV WMHIW EW XLI EKIRX [SVOIH MXW
[E] XLVSYKL XLIMV GIRXVEP RIVZSYW W]WXIQ 8LI] VYFFIH XLIMV I]IW JSYKLX XS WTIEO
QSZI FVIEXLI - [EW KPEH - GSYPHR X WQIPP XLI GSRXIRXW SJ XLIMV YRHIVKEVQIRXW XLI
WYHHIR HMWGLEVKI SJ FPEHHIV ERH FS[IPW
;L] [SYPH XLI] HS MX - GSYPHR X YRHIVWXERH (MHR X XLI LMKL GSQQERH
ORS[ XLEX GLIQMGEP [IETSRW LEH RS IJJIGX SR XLI YRHIEH# (MHR X XLI] PIEVR
ER]XLMRK JVSQ >LMXSQMV#
8LI JMVWX GSVTWI XS QSZI [EW E [SQER NYWX E WIGSRH SV QSVI FIJSVI XLI SXLIVW E
X[MXGLMRK LERH KVSTMRK EGVSWW XLI FEGO SJ E QER [LS PSSOIH PMOI LI H FIIR XV]MRK
XS WLMIPH LIV ,I WPMTTIH SJJ EW WLI VSWI SR YRGIVXEMR ORIIW ,IV JEGI [EW QSXXPIH
ERH [IFFIH [MXL FPEGOIRIH ZIMRW - XLMRO WLI WE[ QI SV SYV XERO ,IV NE[
HVSTTIH LIV EVQW VSWI - GSYPH WII XLI SXLIVW GSQMRK XS PMJI IZIR JSVXMIXL SV
JMJXMIXL TIVWSR IZIV]SRI [LS LEH FIIR FMXXIR ERH LEH TVIZMSYWP] XVMIH XS GSRGIEP
MX
%RH XLIR - YRHIVWXSSH =IW XLI] H PIEVRIH JVSQ >LMXSQMV ERH RS[ XLI] JSYRH E
FIXXIV YWI JSV XLIMV GSPH [EV WXSGOTMPIW ,S[ HS ]SY IJJIGXMZIP] WITEVEXI XLI
MRJIGXIH JVSQ XLI SXLIVW# ,S[ HS ]SY OIIT IZEGYIIW JVSQ WTVIEHMRK XLI MRJIGXMSR
FILMRH XLI PMRIW# 8LEX W SRI [E]
8LI] [IVI WXEVXMRK XS JYPP] VIERMQEXI VIKEMRMRK XLIMV JSSXMRK WLYJJPMRK WPS[P]
EGVSWW XLI FVMHKI XS[EVH YW - GEPPIH JSV XLI KYRRIV ,I GSYPH FEVIP] WXYXXIV E
VIWTSRWI OMGOIH LMQ MR XLI FEGO FEVOIH XLI SVHIV XS WMKLX LMW XEVKIXW -X XSSO E
JI[ WIGSRHW FYX LI WIXXPIH LMW GVSWWLEMVW SR XLI JMVWX [SQER ERH WUYII^IH XLI
XVMKKIV - LIPH Q] IEVW EW XLI 'SE\ FIPGLIH 8LI SXLIV XEROW JSPPS[IH WYMX
8[IRX] QMRYXIW PEXIV MX [EW SZIV - ORS[ - WLSYPH LEZI [EMXIH JSV SVHIVW EX PIEWX
VITSVXIH SYV WXEXYW SV XLI IJJIGXW SJ XLI WXVMOI - GSYPH WII WM\ QSVI JPMKLXW SJ 6SSOW
WXVIEOMRK SZIV JMZI LIEHMRK JSV XLI SXLIV FVMHKIW XLI PEWX JSV XLI GMX] GIRXIV
SVHIVIH SYV GSQTER] XS [MXLHVE[ XS LIEH WSYXL [IWX ERH NYWX OIIT KSMRK 8LIVI
[IVI E PSX SJ FSHMIW EVSYRH YW XLI SRIW
[LS H NYWX QEHI MX SZIV XLI FVMHKI FIJSVI XLI KEW LMX 8LI] TSTTIH EW [I VER SZIV
XLIQ
,EZI ]SY FIIR XS XLI +VIEX 4EXVMSXMG ;EV 1YWIYQ 'SQTPI\ -X [EW SRI SJ XLI
QSWX MQTVIWWMZI FYMPHMRKW MR /MIZ 8LI GSYVX]EVH [EW JMPPIH [MXL QEGLMRIW XEROW
KYRW IZIV] GPEWW ERH WM^I JVSQ XLI 6IZSPYXMSR XS XLI QSHIVR HE] 8[S XEROW
JEGIH IEGL SXLIV EX XLI QYWIYQ W IRXVERGI 8LI] [IVI HIGSVEXIH [MXL GSPSVJYP
HVE[MRKW RS[ ERH GLMPHVIR [IVI EPPS[IH 8S GPMQF ERH TPE] SR XLIQ 8LIVI [EW
ER -VSR 'VSWW E JYPP QIXIV MR WM^I QEHI JVSQ XLI LYRHVIHW SJ VIEP -VSR 'VSWWIW
XEOIR JVSQ HIEH ,MXPIVMXIW 8LIVI [EW E QYVEP JVSQ JPSSV XS GIMPMRK WLS[MRK E
KVERH FEXXPI 3YV WSPHMIVW [IVI EPP GSRRIGXIH MR E WIIXLMRK [EZI SJ WXVIRKXL ERH
GSYVEKI XLEX GVEWLIH YTSR XLI +IVQERW XLEX HVSZI XLIQ JVSQ SYV LSQIPERH 7S
QER] W]QFSPW SJ SYV REXMSREP HIJIRWI ERH RSRI QSVI WTIGXEGYPEV XLER XLI WXEXYI
SJ XLI 6SHMRE 1EX 1SXP\IVPERH 7LI [EW XLI XEPPIWX FYMPHMRK MR HMI GMX] E QSVI
XLER WM\X] QIXIV QEWXIVTMIGI SJ TYVI WXEMRPIWW WXIIP 7LI [EW XLI PEWX XLMRK - WE[ MR
/MIZ LIV WLMIPH ERH W[SVH LIPH LMKL MR IZIVPEWXMRK XVMYQTL LIV GSPH FVMKLX I]IW
PSSOMRK HS[R EX YW EW [I VER
7ERH 0EOIW 4VSZMRGMEP ;MPHIVRIWW 4EVO 1ERMXSFE 'EREHE ?.IWMOE
,IRHVMGOW KIWXYVIW XS XLI I\TERWI SJ WYFEVGXMG [EWXI
PERH 8LI REXYVEP FIEYX] LEW FIIR VITPEGIH F] [VIGOEKI EFERHSRIH ZILMGPIW HIFVMW
ERH LYQER GSVTWIW VIQEMR TEVXMEPP] JVS^IR MRXS XLI KVE] WRS[ ERH MGI 3VMKMREPP] JVSQ
;EYOIWLE ;MWGSRWMR XLI RS[ REXYVEPM^IH 'EREHMER MW TEVX SJ XLMW VIKMSR W
;MPHIVRIWW 6IWXSVEXMSR 4VSNIGX %PSRK [MXL WIZIVEP LYRHVIH SXLIV ZSPYRXIIVW WLI LEW
GSQI LIVI IZIV] WYQQIV WMRGI XLI IRH SJ SJJMGMEP LSWXMPMXMIW %PXLSYKL ;64 GPEMQW XS
LEZI QEHI WYFWXERXMEP TVSKVIWW RSRI GER GPEMQ XS WII ER] IRH MR WMKLX A
1E\ &VSSOW
- HSR X FPEQI VLIQ XLI KSZIVRQIRX XLI TISTPI [LS [IVI WYTTSWIH XS TVSXIGX YW
3FNIGXMZIP] - KYIWW - GER YRHIVWXERH 8LI] GSYPHR X LEZI IZIV]SRI JSPPS[MRK XLI
EVQ] [IWX FILMRH XLI 6SGO] 1SYRXEMRW ,S[ [IVI XLI] KSMRK XS JIIH EPP SJ YW
LS[ [IVI XLI] KSMRK XS WGVIIR YW ERH LS[ GSYPH XLI] IZIV LSTI XS WXST XLI
EVQMIW SJ YRHIEH XLEX EPQSWX GIVXEMRP] [SYPH LEZI FIIR JSPPS[MRK YW# - GER
YRHIVWXERH [L] XLI] [SYPH [ERX XS HMZIVX EW QER] VIJYKIIW RSVXL EW TSWWMFPI
;LEX IPWI GSYPH XLI] HS WXST YW EX XLI 6SGOMIW [MXL EVQIH XVSSTW KEW YW PMOI XLI
9OVEMRMERW# %X PIEWX MJ [I [IRX RSVXL [I QMKLX LEZI E GLERGI 3RGI XLI
XIQTIVEXYVI HVSTTIH ERH
XLI YRHIEH JVS^I WSQI YW QMKLX FI EFPI XS WYVZMZI 8LEX [EW LETTIRMRK EPP EVSYRH
XLI VIWX SJ XLI [SVPH TISTPI JPIIMRK RSVXL LSTMRK XS WXE] EPMZI YRXMP [MRXIV GEQI
2S - HSR X FPEQI XLIQ JSV [ERXMRK XS HMZIVX YW - GER JSVKMZI XLEX &YX XLI
MVVIWTSRWMFPI [E] XLI] HMH MX XLI PEGO SJ ZMXEP MRJSVQEXMSR XLEX [SYPH LEZI LIPTIH
WS QER] XS WXE] EPMZI
XLEX - GER RIZIV JSVKMZI
-X [EW %YKYWX X[S [IIOW EJXIV =SROIVW ERH NYWX XLVII HE]W EJXIV XLI KSZIVRQIRX
LEH WXEVXIH [MXLHVE[MRK [IWX ;I LEHR X LEH XSS QER] SYXFVIEOW MR SYV
RIMKLFSVLSSH - H SRP] WIIR SRI E GSPPIGXMSR SJ WM\ JIIHMRK SR E LSQIPIWW QER
8LI GSTW LEH TYX XLIQ HS[R UYMGOP] -X LETTIRIH XLVII FPSGOW JVSQ SYV LSYWI ERH
XLEX [EW [LIR Q] JEXLIV HIGMHIH XS PIEZI
;I [IVI MR XLI PMZMRK VSSQ Q] JEXLIV [EW PIEVRMRK LS[ XS PSEH LMW RI[ VMJPI
[LMPI 1SQ JMRMWLIH REMPMRK YT XLI [MRHS[W =SY GSYPHR X JMRH E GLERRIP [MXL
ER]XLMRK FYX ^SQFMI RI[W IMXLIV PMZI MQEKIW SV VIGSVHIH JSSXEKI JVSQ =SROIVW
0SSOMRK FEGO - WXMPP GER X FIPMIZI LS[ YRTVSJIWWMSREP XLI RI[W QIHME [EW 7S
QYGL WTMR WS JI[ LEVH JEGXW %PP XLSWI HMKIWXMFPI WSYRH FMXIW JVSQ ER EVQ] SJ
I\TIVXW EPP GSRXVEHMGXMRK SRI ERSXLIV EPP XV]MRK XS WIIQ QSVI WLSGOMRK ERH MR
HITXL XLER XLI PEWX SRI -X [EW EPP WS GSRJYWMRK RSFSH] WIIQIH XS ORS[ [LEX XS
HS 8LI SRP] XLMRK ER] SJ XLIQ GSYPH EKVII SR [EW XLEX EPP TVMZEXI GMXM^IRW WLSYPH
KS RSVXL &IGEYWI XLI PMZMRK HIEH JVII^I WSPMH I\XVIQI GSPH MW SYV SRP] LSTI
8LEX W EPP [I LIEVH 2S QSVI MRWXVYGXMSRW SR [LIVI XS LIEH RSVXL [LEX XS FVMRK
[MXL YW LS[ XS WYVZMZI NYWX XLEX HEQR GEXGLTLVEWI ]SY H LIEV JVSQ IZIV] XEPOMRK
LIEH SV NYWX GVE[PMRK SZIV ERH SZIV EGVSWW HMI FSXXSQ SJ XLI 8: +S RSVXL +S
RSVXL +S RSVXL
8LEX W MX (EH WEMH [I VI KIXXMRK SYX SJ LIVI XSRMKLX ERH LIEHMRK
RSVXL ,I XVMIH XS WSYRH HIXIVQMRIH WPETTMRK LMW VMJPI ,I H RIZIV XSYGLIH E KYR
MR LMW PMJI ,I [EW E KIRXPIQER MR XLI QSWX PMXIVEP WIRWI LI [EW E KIRXPI QER
7LSVX FEPH E TYHK] JEGI XLEX XYVRIH VIH [LIR LI PEYKLIH LI [EW XLI OMRK SJ XLI
LEH NSOIW ERH GLIIW] SRI PMRIVW ,I EP[E]W LEH WSQIXLMRK JSV ]SY E GSQTPMQIRX
SV E WQMPI SV E PMXXPI I\XIRWMSR XS Q] EPPS[ERGI XLEX 1SQ [EWR X WYTTSWIH XS
ORS[ EFSYX ,I [EW XLI KSSH GST MR XLI JEQMP] LI PIJX EPP XLI FMK HIGMWMSRW XS
1SQ
2S[ 1SQ XVMIH XS EVKYI XVMIH XS QEOI LMQ WII VIEWSR ;I PMZIH EFSZI XLI
WRS[PMRI [I LEH EPP [I RIIHIH ;L] XVIO MRXS XLI YRORS[R [LIR [I GSYPH NYWX
WXSGO YT SR WYTTPMIW GSRXMRYI XS JSVXMJ] XLI LSYWI ERH NYWX [EXX YRXMP XLI JMVWX JEPP
JVSWX# (EH [SYPHR X LIEV MX ;I GSYPH FI HIEH F] XLI JEPP [I GSYPH FI HIEH F]
RI\X [IIO ,I [EW WS GEYKLX YT MR XLI +VIEX 4ERMG ,I XSPH YW MX [SYPH FI PMOI ER
I\XIRHIH GEQTMRK XVMT ;I H PMZI SR QSSWI FYVKIVW ERH [MPH FIVV] HIWWIVXW ,I
TVSQMWIH XS XIEGL QI LS[ XS JMWL ERH EWOIH QI [LEX - [ERXIH XS REQI Q] TIX
VEFFMX [LIR - GEYKLX MX ,I H PMZIH MR ;EYOIWLE LMW [LSPI PMJI ,I H RIZIV FIIR
GEQTMRK
?7LI WLS[W QI WSQIXLMRK MR XLI MGI E GSPPIGXMSR SJ GMEGOIH (:(W A
8LMW MW [LEX TISTPI FVSYKLX [MXL XLIQ LEMV HV]IVW +EQI'YFIW PETXSTW F] XLI
HS^IR - HSR X XLMRO XLI] [IVI WXYTMH IRSYKL XS XLMRO XLI] GSYPH YWI XLIQ 1E]FI
WSQI HMH - XLMRO QSWX TISTPI [IVI NYWX EJVEMH SJ PSWMRK XLIQ XLEX XLI] H GSQI
LSQI EJXIV WM\ QSRXLW ERH JMRH XLIMV LSQIW PSSXIH ;I EGXYEPP] XLSYKLX [I [IVI
TEGOMRK WIRWMFP] ;EVQ GPSXLIW GSSO
MRK YXIRWMPW XLMRKW JVSQ XLI QIHMGMRI GEFMRIX ERH EPP XLI GERRIH JSSH [I GSYPH
GEVV] -X PSSOIH PMOI IRSYKL JSSH JSV E GSYTPI SJ ]IEVW ;I JMRMWLIH LEPJ SJ MX SR
XLI [E] YT 8LEX HMHR X FSXLIV QI -X [EW PMOI ER EHZIRXYVI XLI XVIO RSVXL
%PP XLSWI WXSVMIW ]SY LIEV EFSYX XLI GPSKKIH VSEHW ERH ZMSPIRGI XLEX [EWR X YW ;I
[IVI MR XLI JMVWX [EZI 8LI SRP] TISTPI ELIEH SJ YW [IVI XLI 'EREHMERW ERH QSWX
SJ XLIQ [IVI EPVIEH] PSRK KSRI 8LIVI [EW WXMPP E PSX SJ XVEJJMG SR XLI VSEH QSVI
GEVW XLER - H IZIV WIIR FYX MX EPP QSZIH TVIXX] UYMGOP] ERH SRP] VIEPP] WREVPIH MR
TPEGIW PMOI VSEHWMHI XS[RW SV TEVOW
1E\ &VSSOW 4EVOW#
4EVOW HIWMKREXIH GEQTKVSYRHW ER] TPEGI [LIVI TISTPI XLSYKLX XLI] H KSRI JEV
IRSYKL (EH YWIH XS PSSO HS[R SR XLSWI TISTPI GEPPMRK XLIQ WLSVXWMKLXIH ERH
MVVEXMSREP ,I WEMH XLEX [I [IVI WXMPP [E] XSS GPSWI XS TST YPEGMSR GIRXIVW ERH XLI
SRP] [E] XS VIEPP] QEOI MX [EW XS LIEH EW JEV RSVXL EW [I GSYPH 1SQ [SYPH
EP[E]W EVKYI XLEX MX [EWR X XLIMV JEYPX XLEX QSWX SJ XLIQ LEH WMQTP] VYR SYX SJ KEW
%RH [LSWI JEYPX MW XLEX (EH [SYPH WE] ;I LEH E PSX SJ WTEVI KEW GERW SR XLI
VSSJ S_ XLI QMRMZER (EH LEH
FIIR WXSGOMRK YT WMRGI XLI JMVWX HE]W SJ XLI 4ERMG ;I H TEWW E PSX SJ XVEJJMG WREVPW
EVSYRH VSEHWMHI KEW WXEXMSRW QSWX SJ [LMGL EPVIEH] LEH XLIWI KMERX WMKRW SYXWMHI
XLEX WEMH 23 136) +%7 (EH HVSZI F] XLIQ VIEPP] JEWX ,I HVSZI JEWX F] E PSX SJ
XLMRKW XLI WXEPPIH GEVW XLEX RIIHIH E NYQT SV LMXGL LMOIVW [LS RIIHIH E VMHI
8LIVI [IVI E PSX SJ XLSWI MR WSQI GEWIW [EPOMRK MR PMRIW F] XLI WMHI SJ XLI VSEH
PSSOMRK PMOI XLI [E] ]SY XLMRO VIJYKIIW EVI WYTTSWIH XS PSSO )ZIV] RS[ ERH XLIR
E GEV [SYPH WXST XS TMGO YT E GSYTPI ERH WYHHIRP] IZIV]SRI [ERXIH E VMHI 7II
[LEX XLI] KSX XLIQWIPZIW MRXS# 8LEX [EW (EH
;I HMH TMGO YT SRI [SQER [EPOMRK F] LIVWIPJ ERH TYPPMRK SRI SJ XLSWI [LIIPIH
EMVPMRI FEKW 7LI PSSOIH TVIXX] LEVQPIWW EPP EPSRI MR XLI VEMR 8LEX W TVSFEFP] [L]
1SQ QEHI (EH WXST XS TMGO LIV YT ,IV REQI [EW 4EXX] WLI [EW JVSQ ;MRRMTIK
7LI HMHR X XIPP YW LS[ WLI KSX SYX LIVI ERH [I HMHR X EWO 7LI [EW VIEPP] KVEXIJYP
ERH XVMIH XS KMZI Q] TEVIRXW EPP XLI QSRI] WLI LEH 1SQ [SYPHR X PIX LIV ERH
TVSQMWIH XS XEOI LIV EW JEV EW [I [IVI KSMRK 7LI WXEVXIH GV]MRK XLEROMRK YW [EW TVSYH SJ Q] TEVIRXW JSV HSMRK XLI VMKLX XLMRK YRXMP WLI WRII^IH ERH FVSYKLX
YT E LERHOIVGLMIJ XS FPS[ LIV RSWI ,IV PIJX LERH LEH FIIR MR LIV TSGOIX WMRGI [I
TMGOIH LIV YT ;I GSYPH WII XLEX MX [EW [VETTIH MR E GPSXL ERH LEH E HEVO WXEMR
XLEX PSSOIH PMOI FPSSH 7LI WE[ XLEX [I WE[ ERH WYHHIRP] PSSOIH RIVZSYW 7LI
XSPH YW RSX XS [SVV] ERH XLEX WLI H NYWX GYX MX F] EGGMHIRX (EH PSSOIH EX 1SQ ERH
XLI] FSXL KSX ZIV] UYMIX 8LI] [SYPHR X PSSO EX QI XLI] HMHR X WE] ER]XLMRK 8LEX
RMKLX - [SOI YT [LIR - LIEVH XLI TEWWIRKIV HSSV WPEQ WLYX - HMHR X XLMRO MX [EW
ER]XLMRK YRYWYEP ;I [IVI EP[E]W WXSTTMRK JSV
FEXLVSSQ FVIEOW 8LI] EP[E]W [SOI QI YT NYWX MR GEWI - LEH XS KS FYX XLMW XMQI HMHR X ORS[ [LEX LEH LETTIRIH YRXMP XLI QMRMZER [EW EPVIEH] QSZMRK - PSSOIH
EVSYRH JSV 4EXX] FYX WLI [EW KSRI - EWOIH Q] TEVIRXW [LEX LEH LETTIRIH ERH
XLI] XSPH QI WLI H EWOIH XLIQ XS HVST LIV SJJ - PSSOIH FILMRH YW ERH XLSYKLX GSYPH NYWX QEOI LIV SYX XLMW PMXXPI WTIG KIXXMRK WQEPPIV IEGL WIGSRH - XLSYKLX WLI
PSSOIH PMOI WLI [EW VYRRMRK EJXIV YW FYX - [EW WS XMVIH ERH GSRJYWIH - GSYPHR X FI
WYVI - TVSFEFP] NYWX HMHR X [ERX XS ORS[ - WLYX E PSX SYX HYVMRK XLEX HVMZI RSVXL
0MOI [LEX#
0MOI XLI SXLIV LMXGLLMOIVW XLI SRIW [LS HMHR X VYR 8LIVI [IVIR X E PSX
VIQIQFIV [I VI XEPOMRK EFSYX XLI JMVWX [EZI ;I IRGSYRXIVIH LEPJ E HS^IR EX
QSWX [ERHIVMRK HS[R XLI QMHHPI SJ XLI VSEH VEMWMRK HMIMV EVQW [LIR [I KSX
GPSWI (EH [SYPH [IEZI EVSYRH XLIQ ERH 1SQ [SYPH XIPP QI XS KIX Q] LIEH
HS[R - RIZIV WE[ XLIQ XSS GPSWI - LEH Q] JEGI EKEMRWX XLI WIEX ERH Q] I]IW WLYX
- HMHR X [ERX XS WII XLIQ - NYWX OITX XLMROMRK EFSYX QSSWIFYVKIVW ERH [MPH FIVVMIW
-X [EW PMOI LIEHMRK XS XLI 4VSQMWIH 0ERH - ORI[ SRGI [I LIEHIH JEV IRSYKL
RSVXL IZIV]XLMRK [SYPH FI EPP VMKLX
*SV E PMXXPI [LMPI MX [EW ;I LEH XLMW KVIEX GEQTWMXI VMKLX SR XLI WLSVI SJ E PEOI
RSX XSS QER] TISTPI EVSYRH FYX NYWX IRSYKL XS QEOI YW JIIP WEJI ]SY ORS[ MJ
ER] SJ XLI HIEH WLS[IH YT )ZIV]SRI [EW VIEP JVMIRHP] XLMW FMK GSPPIGXMZI ZMFI SJ
VIPMIJ -X [EW OMRH SJ PMOI E TEVX] EX JMVWX 8LIVI [IVI XLIWI FMK GSSOSYXW IZIV]
RMKLX TISTPI EPP XLVS[MRK MR [LEX XLI] H LYRXIH SV JMWLIH QSWXP] JMWLIH 7SQI
KY]W [SYPH XLVS[ H]REQMXI MR XLI PEOI ERH
XLIVI H FI XLMW LYKI FERK ERH EPP XLIWI JMWL [SYPH GSQI JPSEXMRK XS XLI WYVJEGI - PP
RIZIV JSVKIX XLSWI WSYRHW XLI I\TPSWMSRW SV XLI GLEMRWE[W EW TISTPI GYX HS[R
XVIIW SV XLI QYWMG SJ GEV VEHMSW ERH MRWXVYQIRXW JEQMPMIW LEH FVSYKLX ;I EPP WERK
EVSYRH XLI GEQTJMVIW EX RMKLX XLIWI KMERX FSRJMVIW SJ PSKW WXEGOIH YT SR SRI
ERSXLIV
8LEX [EW [LIR [I WXMPP LEH XVIIW FIJSVI XLI WIGSRH ERH XLMVH [EZIW WXEVXMRK
WLS[MRK YT [LIR TISTPI [IVI HS[R XS FYVRMRK PIEZIW ERH WXYQTW XLIR JMREPP]
[LEXIZIV XLI] GSYPH KIX XLIMV LERHW SR 8LI WQIPP SJ
1E\ &VSSOW
TPEWXMG ERH VYFFIV KSX VIEPP] FEH MR ]SYV QSYXL MR ]SYV LEMV &] XLEX XMQI XLI JMWL
[IVI EPP KSRI ERH ER]XLMRK PIJX JSV TISTPI XS LYRX 2S SRI WIIQIH XS [SVV]
)ZIV]SRI [EW GSYRXMRK SR [MRXIV JVII^MRK XLI HIEH
&YX SRGI XLI HIEH [IVI JVS^IR FS[ [IVI ]SY KSMRK XS WYVZMZI XLI [MRXIV#
+SSH UYIWXMSR - HSR X XLMRO QSWX TISTPI XLSYKLX XLEX JEV ELIEH 1E]FI XLI]
JMKYVIH XLEX XLI EYXLSVMXMIW [SYPH GSQI VIWGYI YW SV XLEX XLI] GSYOP NYWX TEGO YT
ERH LIEH LSQI - Q WYVI E PSX SJ TISTPI HMHR X XLMRO EFSYX ER]
8LMRK I\GITX XLI HE] MR JVSRX SJ XLIQ NYWX KVEXIJYP XLEX XLI] [IVI JMREPP] WEJI ERH
GSRJMHIRX XLEX XLMRKW [SYPH [SVO XLIQWIPZIW SYX ;I PP EPP FI LSQI FIJSVI ]SY
ORS[ MX TISTPI [SYPH WE] -X PP EPP FI SZIV F] 'LVMWXQEW
?7LI HVE[W Q] EXXIRXMSR XS ERSXLIV SFNIGX MR XLI MGI E 7TSRKI &SF 7UYEVI4ERXW
WPIITMRK FEK -X MW WQEPP ERH WXEMRIH FVS[R -
;LEX HS ]SY XLMRO XLMW MW VEXIH XS E LIEXIH FIHVSSQ EX E WPIITSZIV TEVX]# 3OE]
QE]FI XLI] GSYPHR X KIX E TVSTIV FEK GEQTMRK WXSVIW [IVI EP[E]W XLI JMVWX FSYKLX
SYX SV ORSGOIH SJJ FYX ]SY GER X FIPMIZI LS[ MKRSVERX WSQI SJ XLIWI TISTPI [IVI
% PSX SJ XLIQ [IVI JVSQ 7YRFIPX WXEXIW WSQI EW JEV E[E] EW WSYXLIVR 1I\MGS
=SY H WII TISTPI KIXXMRK MRXS XLIMV WPIITMRK FEKW [MXL XLIMV FSSXW SR RSX VIEPM^MRK
XLEX MX [EW GYXXMRK SJJ XLIMV GMVGYPEXMSR =SY H WII XLIQ HVMROMRK XS KIX [EVQ RSX
VIEPM^MRK MX [EW EGXY EPP] PS[IVMRK XLIMV XIQTIVEXYVI F] VIPIEWMRK QSVI FSH] LIEX
=SY H WII XLIQ [IEVMRK XLIWI FMK LIEZ] GSEXW [MXL RSXLMRK FYX E 8 WLMVX
YRHIVRIEXL 8LI] H HS WSQIXLMRK TL]WMGEP SZIVLIEX XEOI SJJ XLI GSEX 8LIMV
FSHMIW H FI GSEXIH MR W[IEX E PSX SJ GSXXSR GPSXL LSPHMRK MR XLI QSMWXYVI 8LI
FVII^I H GSQI YT E PSX SJ TISTPI KSX WMGO XLEX JMVWX 7ITXIQFIV 'SPH ERH JPY
8LI] KEZI MX XS XLI VIWX SJ YW
-R XLI FIKMRRMRK IZIV]SRI [EW JVMIRHP] ;I GSSTIVEXIH ;I XVEHIH SV IZIR FSYKLX
[LEX [I RIIHIH JVSQ SXLIV JEQMPMIW 1SRI] [EW WXMPP [SVXL WSQIXLMRK )ZIV]SRI
XLSYKLX XLI FEROW [SYPH FI VISTIRMRK WSSR ;LIR IZIV 1SQ ERH (EH [SYPH KS
PSSOMRK JSV JSSH XLI] H EP[E]W 0IEZI QI [MXL E RIMKLFSV - LEH XLMW PMXXPI WYVZMZEP
VEHMS XLI OMRH ]SY GVEROIH JSV TS[IV
WS [I GSYPH PMWXIR XS XLI RI[W IZIV] RMKLX -X [EW EPP WXSVMIW SJ XLI TYPPSYX EVQ]
YRMXW PIEZMRK TISTPI WXVERHIH ;I H PMWXIR [MXL SYV VSEH QET SJ XLI 9RMXIH 7XEXIW
TSMRXMRK XS XLI GMXMIW ERH XS[RW [LIVI XLI VITSVXW [IVI GSQMRK JVSQ - H WMX SR
(EH W PET 7II LI H WE] XLI] HMHR X KIX SYX MR XMQI 8LI] [IVIR X WQEVX PMOI YW
,I H XV] XS JSVGI E WQMPI *SV E PMXXPI [LMPI - XLSYKLX LI [EW VMKLX
&YX EJXIV XLI JMVWX QSRXL [LIR XLI JSSH WXEVXIH VYRRMRK SYX ERH XLI HE]W KSX
GSPHIV ERH HEVOIV TISTPI WXEVXIH KIXXMRK QIER 8LIVI [IVI RS QSVI GSQQYREP
JMVIW RS QSVI GSSOSYXW SV WMRKMRK 8LI GEQT FIGEQI E QIWW RSFSH] TMGOMRK YT
XLIMV XVEWL ER]QSVI % GSYTPI XMQIW - WXITTIH MR LYQER WLMX 2SFSH] [EW IZIR
FSXLIVMRK XS FYV] MX
- [EWR X PIJX EPSRI [MXL RIMKLFSVW ER]QSVI Q] TEVIRXW HMHR X XVYWX ER]SRI 8LMRKW
KSX HERKIVSYW ]SY H WII E PSX SJ JMKLXW - WE[ X[S [SQIR [VIWXPMRK SZIV E JYV
GSEX XSVI MX VMKLX HS[R XLI QMHHPI - WE[ SRI KY] GEXGLMRK ERSXLIV KY] XV]MRK XS
WXIEP WSQI WXYJJ SYX SJ LMW GEV ERH FIEX LMW LIEH MR [MXL E XMVI MVSR % PSX SJ MX XSSO
TPEGI EX RMKLX WGYJJPMRK ERH WLSYXW )ZIV] RS[ ERH XLIR ]SY H LIEV E KYRWLSX ERH
WSQIFSH] GV]MRK 3RI XMQI [I LIEVH WSQISRI QSZMRK SYXWMHI HMI QEOIWLMJX XIRX
[I H HVETIH SZIV XLI QMRMZER 1SQ XSPH QI XS TYX Q] LIEH HS[R ERH GSZIV Q]
IEVW (EH [IRX SYXWMHI 8LVSYKL Q] LERHW - LIEVH WLSYXW (EH W KYR [IRX SJJ
7SQISRI WGVIEQIH (EH GEQI FEGO MR LMW JEGI [EW [LMXI - RIZIV EWOIH LMQ [LEX
LETTIRIH
8LI SRP] XMQI ER]SRI IZIV GEQI XSKIXLIV [EW [LIR SRI SJ XLI HIEH WLS[IH YT
8LIWI [IVI XLI SRIW [LS H JSPPS[IH XLI XLMVH [EZI GSQMRK EPSRI SV MR WQEPP
TEGOW -X LETTIRIH IZIV] GSYTPI SJ HE]W 7SQISRI [SYPH WSYRH ER EPEVQ ERH
IZIV]SRI [SYPH VEPP] XS XEOI XLIQ SYX %RH XLIR EW
WSSR EW MX [EW SZIV [I H EPP 8YVR SR IEGL SXLIV EKEMR
;LIR MX KSX GSPH IRSYKL XS JVII^I XLI PEOI [LIR XLI PEWX SJ XLI HIEH WXSTTIH
WLS[MRK YT E PSX SJ TISTPI XLSYKLX MX [EW WEJI IRSYKL XS XV] XS [EPO LSQI
;EPO# 2SX HVMZI#
2S QSVI KEW 8LI] H YWIH MX EPP YT JSV GSSOMRK JYIP SV NYWX XS OIIT XLIMV GEV LIEXIVW
VYRRMRK )ZIV] HE] XLIVI H FI XLIWI KVSYTW SJ LEPJ WXEVZIH VEKKIH
1E\ &VSSOW
[VIXGLIW EPP PSEHIH HS[R [MXL EPP XLMW YWIPIWW WXYJJ XLI] H FVSYKLX [MXL XLIQ EPP
[MXL XLMW PSSO SJ HIWTIVEXI LSTI SR XLIMV JEGIW
;LIVI HS XLI] XLMRO XLI] VI KSMRK# (EH [SYPH WE] (SR X XLI] ORS[ XLEX MX
LEWR X KSXXIR GSPH IRSYKL JEVXLIV WSYXL# (SR X XLI] ORS[ [LEX W WXMPP [EMXMRK JSV
XLIQ FEGO XLIVI ,I [EW GSRZMRGIH XLEX MJ [I NYWX LIPH SYX PSRK IRSYKL WSSRIV SV
PEXIV XLMRKW [SYPH KIX FIXXIV 8LEX [EW MR 3G XSFIV [LIR WXMPP PSSOIH PMOI E
LYQER FIMRK
?;I GSQI YTSR E GSPPIGXMSR SJ FSRIW XSS QER] XS GSYRX 8LI] PMI
MR E TMX LEPJ GSZIVIH MR MGI A
- [EW E TVIXX] LIEZ] OMH - RIZIV TPE]IH WTSVXW - PMZIH SR JEWX JSSH ERH WREGOW [EW SRP] E PMXXPI FMX XLMRRIV [LIR [I EVVMZIH MR %YKYWX &] 2SZIQFIV - [EW PMOI E
WOIPIXSR 1SQ ERH (EH HMHR X PSSO QYGL FIXXIV (EH W XYQQ] [EW KSRI 1SQ
LEH XLIWI REVVS[ GLIIOFSRIW 8LI] [IVI JMKLXMRK E PSX JMKLXMRK EFSYX IZIV]XLMRK
8LEX WGEVIH QI QSVI XLER ER]XLMRK 8LI] H RIZIV VEMWIH XLIMV ZSMGIW EX LSQI
8LI] [IVI WGLSSPXIEGLIVW TVSKVIWWMZIW 8LIVI QMKLX LEZI FIIR E XIRWI UYMIX
HMRRIV IZIV] RS[ ERH XLIR FYX RSXLMRK PMOI XLMW 8LI] [IRX JSV IEGL SXLIV IZIV]
GLERGI XLI] LEH 3RI XMQI EVSYRH 8LEROWKMZMRK - GSYPHR X KIX SYX SJ Q]
WPIITMRK FEK 1] FIPP] [EW W[SPPIR ERH - LEH XLIWI WSVIW SR Q] QSYXL ERH RSWI
8LIVI [EW XLMW WQIPP GSQMRK JVSQ XLI RIMKLFSV W 6: 8LI] [IVI GSSOMRK
WSQIXLMRK QIEX MX WQIPPIH VIEPP] KSSH 1SQ ERH (EH [IVI SYXWMHI EVKYMRK
1SQ WEMH MX [EW XLI SRP] [E] - HMHR X ORS[ [LEX MX [EW 7LI WEMH MX [EWR X
XLEX FEH FIGEYWI XLI RIMKLFSVW RSX YW LEH FIIR XLI SRIW XS EGXYEPP] HS MX (EH
WEMH XLEX [I [IVIR X KSMRK XS WXSST XS XLEX PIZIP ERH XLEX 1SQ WLSYPH FI EWLEQIH
SJ LIVWIPJ 1SQ VIEPP] PEMH MRXS (EH WGVIIGLMRK XLEX MX [EW EPP LMW JEYPX XLEX [I
[IVI LIVI XLEX - [EW H]MRK 1SQ XSPH LMQ XLEX E VIEP QER [SYPH ORS[ [LEX XS HS
7LI GEPPIH LMQ E [MQT ERH WEMH LI [ERXIH YW XS HMI WS XLIR LI GSYPH VYR E[E] ERH
PMZI PMOI XLI JEKKSX WLI EP[E]W ORI[ LI [EW (EH XSPH LIV XS WLYX XLI JYGO YT
(EH RIZIV W[SVI - LIEVH WSQIXLMRK E GVEGO JVSQ SYXWMHI 1SQ GEQI FEGO MR
LSPHMRK E GPYQT SJ WRS[ SZIV LIV VMKLX I]I (EH JSPPS[IH LIV ,I HMHR X WE]
ER]XLMRK ,I LEH XLMW PSSO SR LMW JEGI
- H RIZIV WIIR FIJSVI PMOI LI [EW E HMJJIVIRX TIVWSR ,I KVEFFIH Q] WYV ZMZEP
VEHMS XLI SRI TISTPI H XV] XS FY] SV WXIEP JSV E PSRK XMQI ERH [IRX LEGO SYX
XS[EVH XLI 6: ,I GEQI FEGO XIR QMRYXIW PEXIV [MXLSYX XLI VEHMS FYX [MXL E FMK
FYGOIX SJ XLMW WXIEQMRK LSX WXI[ -X [EW WS KSSH 1SQ XSPH QI RSX XS IEX XSS JEWX
7LI JIH QI MR PMXXPI WTSSRJYPW 7LI PSSOIH VIPMIZIH 7LI [EW GV]MRK E PMXXPI (EH
WXMPP LEH XLEX PSSO 8LI PSSO - LEH Q]WIPJ MR E JI[ QSRXLW [LIR 1SQ ERH (EH
FSXL KSX WMGO ERH - LEH XS JIIH XLIQ
?- ORIIP XS I\EQMRI XLI FSRI TMPI 8LI] LEZI EPP FIIR FVSOIR XLI
QEVVS[ I\XVEGXIH A
;MRXIV VIEPP] LMX YW MR IEVP] (IGIQFIV 8LI WRS[ [EW SZIV SYV LIEHW PMXIVEPP]
QSYRXEMRW SJ MX XLMGO ERH KVE] JVSQ XLI TSPPYXMSR 8LI GEQT KSX WMPIRX 2S QSVI
JMKLXW RS QSVI WLSSXMRK &] 'LVMWXQEW (E] XLIVI [EW TPIRX] SJ JSSH
?7LI LSPHW YT [LEX PSSOW PMOI E QMRMEXYVI JIQYV -X LEW FIIR WGVETIH GPIER F] E
ORMMI P
8LI] WE] IPIZIR QMPPMSR TISTPI HMIH XLEX [MRXIV ERH XLEX W NYWX MR 2SVXL %QIVMGE
8LEX HSIWR X GSYRX XLI SXLIV TPEGIW +VIIRPERH -GIPERH 7GERHMREZME - HSR X [ERX
XS XLMRO EFSYX 7MFIVME EPP XLSWI VIJYKIIW JVSQ WSYXLIVR 'LMRE XLI SRIW JVSQ .ETER
[LS H RIZIV FIIR SYXWMHI E GMX] ERH EPP
XLSWI TSSV TISTPI JVSQ -RHME 8LEX [EW XLI JMVWX +VE] ;MRXIV [LIR XLI JMPXL MR XLI
WO] WXEVXIH GLERKMRK XLI [IEXLIV 8LI] WE] XLEX E TEVX SJ XLEX JMPXL - HSR X ORS[
LS[ QYGL [EW EWL JVSQ LYQER VIQEMRW
-7LI TPERXW E QEVOIV EFSZI XLI TMX A
-X XSSO E PSX SJ XMQI FYX IZIRXYEPP] XLI WYR HMH GSQI SYX XLI [IEXLIV FIKER XS
[EVQ XLI WRS[ JMREPP] FIKER XS QIPX &] QMH .YP] WTVMRK [EW JMREPP] LIVI ERH WS
[IVI XLI PMZMRK HIEH
1E\ &VSSOW
?3RI SJ XLI SXLIV XIEQ QIQFIVW GEPPW YW SZIV % ^SQFMI MW LEPJ
FYVMIH JVS^IR JVSQ XLI [EMWX HS[R MR XLI MGI 8LI LIEH EVQW ERH YTTIV XSVWS EVI ZIV]
QYGL EPMZI XLVEWLMRK ERH QSERMRK ERH XV]MRK XS GPE[ XS[EVH YW P
;L] HS XLI] GSQI FEGO EJXIV JVII^MRK# %PP LYQER GIPPW GSRXEMR [EXIV VMKLX# %RH
[LIR HMEX [EXIV JVII^IW MX I\TERHW ERH FYVWXW XLI GIPP [EPPW 8LEX W [L] ]SY GER X
NYWX JVII^I TISTPI MR WYWTIRHIH ERMQEXMSR WS XLIR [L] HSIW MX [SVO JSV XLI PMZMRK
HIEH#
?8LI ^SQFMI QEOIW SRI KVIEX PYRKI MR SYV HMVIGXMSR MXW JVS^IR PS[IV XSVWS FIKMRW XS
WRET .IWMOE VEMWIW LIV [IETSR E PSRK MVSR GVS[FEV ERH GEWYEPP] WQEWLIW XLI
GVIEXYVI W WOYPP A
9HEMTYV 0EOI 4EPEGI 0EOI 4MGLSPE 6ENEWXLER -RHME
?'SQTPIXIP] GSZIVMRK MXW JSYRHEXMSR SJ PEKRM[EW -WPERH XLMW MH]PPMG EPQSWX JEMV] XEPI
WXVYGXYVI [EW SRGI E QELEVENE W VIWMHIRGI XLIR E PY\YV] LSXIP XLIR E LEZIR XS WIZIVEP
LYRHVIH VIJYKIIW YRXMP ER SYXFVIEO SJ GLSPIVE OMPPIH XLIQ EPP 9RHIV XLI HMVIGXMSR SJ
4VSNIGX 1EREKIV 7EVHEV /LER XLI LSXIP PMOI XLI PEOI ERH WYVVSYRHMRK GMX] MW JMREPP]
FIKMRRMRK XS VIXYVR XS PMJI (YVMRK LMW VIGSPPIGXMSRW 1MWXIV /LER WSYRHW PIWW PMOI E FEXXPI
LEVHIRIH LMKLP] IHYGEXIH GMZMPMER IRKMRIIV ERH QSVI PMOI E ]SYRK JVMKLXIRIH PERGI
GSVTSVEP [LS SRGI JSYRH LMQWIPJ SR E GLESXMG QSYRXEMR VSEH P
- VIQIQFIV XLI QSROI]W LYRHVIHW SJ XLIQ GPMQFMRK ERH WOMXXIVMRK EQSRK XLI
ZILMGPIW IZIR SZIV XLI XSTW SJ TISTPI W LIEHW - H [EXGLIH XLIQ EW JEV FEGO EW
'LERHMKEVL PIETMRK JVSQ VSSJW ERH FEPGSRMIW EW XLI PMZMRK
HIEH XMPPIH XLI WXVIIX - VIQIQFIV XLIQ WGEXXIVMRK GLEXXIVMRK WGVEQFPMRK WXVEMKLX
YT XIPITLSRI TSPIW XS IWGETI XLI ^SQFMIW KVEWTMRK EVQW 7SQI HMHR X IZIR [EMX XS
FI EXXEGOIH XLI] ORI[ %RH RS[ XLI] [IVI LIVI SR XLMW REVVS[ X[MWXMRK
,MQEPE]ER KSEX XVEGO 8LI] GEPPIH MX E VSEH FYX IZIR MR TIEGIXMQI MX LEH FIIR E
RSXSVMSYW HIEXL XVET 8LSYWERHW SJ VIJYKIIW [IVI WXVIEQMRK TEWX SV GPMQFMRK SZIV
XLI WXEPPIH ERH EFERHSRIH ZILMGPIW 4ISTPI [IVI WXMPP XV]MRK XS WXVYKKPI [MXL
WYMXGEWIW FS\IW SRI QER [EW WXYFFSVRP] LSPHMRK SR XS XLI QSRMXSV JSV E HIWOXST
4' % QSROI] PERHIH SR LMW LIEH XV]MRK XS YWI MX EW E WXITTMRK WXSRI FYX XLI QER
[EW XSS GPSWI XS XLI IHKI ERH XLI X[S SJ XLIQ [IRX XYQFPMRK SZIV XLI WMHI -X
WIIQIH PMOI IZIR WIGSRH WSQISRI [SYPH PSWI XLIMV JSSXMRK 8LIVI [IVI NYWX XSS
QER] TISTPI 8LI VSEH HMHR X IZIR LEZI E KYEVHVEMP - WE[ E [LSPI FYW KS SZIV HSR X IZIR ORS[ LS[ MX [EWR X IZIR QSZMRK 4EWWIRKIVW [IVI GPMQFMRK SYX SJ XLI
[MRHS[W FIGEYWI XLI HSSVW SJ XLI FYW LEH FIIR NEQQIH F] JSSX XVEJJMG 3RI
[SQER [EW LEPJ[E] SYX XLI [MRHS[ [LIR XLI FYW XMTTIH SZIV 7SQI XLMRK [EW MR
LIV EVQW WSQIXLMRK GPYXGLIH XMKLXP] XS LIV - XIPP Q]WIPJ XLEX MX [EWR X QSZMRK SV
GV]MRK XLEX MX [EW NYWX E FYRHPI SJ GPSXLIW 2S SRI [MXLMR EVQ W VIEGL XVMIH XS LIPT
LIV 2S SRI IZIR PSSOIH XLI] NYWX OITX WXVIEQMRK F] 7SQIXMQIW [LIR - HVIEQ
EFSYX XLEX QSQIRX - GER X XIPP XLI HMJJIVIRGI FIX[IIR XLIQ ERH XLI QSROI]W
- [EWR X WYTTSWIH XS FI XLIVI - [EWR X IZIR E GSQFEX IRKMRIIV - [EW [MXL XLI
&63 Q] NSF [EW XS FYMPH VSEHW RSX FPS[ XLIQ YT - H NYWX FIIR [ERHIVMRK
XLVSYKL XLI EWWIQFP] EVIE EX 7LMQPE XV]MRK XS JMRH [LEX VI QEMRIH SJ Q] YRMX
[LIR XLMW IRKMRIIV 7IVKIERX 1YOLIVNII KVEFFIH QI F] XLI EVQ ERH WEMH =SY
WSPHMIV ]SY ORS[ LS[ XS HVMZI#
- GLMRO - WXEQQIVIH WSQIXLMRK XS XLI EJJMVQEXMZI ERH WYHHIRP] LI [EW WLSZMRK
QI MRXS XLI HVMZIV W WMHI SJ E NIIT [LMPI LI NYQTIH MR RI\X XS QI [MXL WSQI OMRH SJ
VEHMSPMOI HIZMGI SR LMW PET +IX FEGO XS XLI TEWW +S +S - XSSO SJJ HS[R XLI
VSEH WGVIIGLMRK ERH WOMHHMRK ERH GV]MRK HIWTIVEXIP] XS I\TPEMR XLEX - [EW EGXYEPP]
E WXIEQVSPPIV HVMZIV ERH RSX IZIR JYPP] UYEPMJMIH EX XLEX 1YOLIVNII HMHR X LIEV QI
,I [EW XSS FYW] JMHHPMRK [MXL
- &63 8LI &SVHIV 6SEHW 3VKERM^EXMSR
-
1E\ &VSSOW
XLI HIZMGI SR LMW PET 8LI GLEVKIW EVI EPVIEH] WIX LI I\TPEMRIH %PP [I LEZI XS
HS MW [EXX JSV XLI SVHIV
;LEX GLEVKIW# - EWOIH ;LEX SVHIV#
8S FPS[ XLI TEWW ]SY EVWI LIEH LI ]IPPIH QSXMSRMRK XS [LEX - RS[ VIGSKRM^IH
EW E HIXSREXSV SR LMW PET ,S[ XLI LIPP IPWI EVI [I KSMRK XS WXST XLIQ
- ORI[ ZEKYIP] XLEX SYV VIXVIEX MRXS XLI ,MQEPE]EW LEH WSQIXLMRK XS HS [MXL
WSQI OMRH SJ QEWXIV TPER ERH XLEX TEVX SJ XLEX TPER QIERX GPSWMRK EPP XLI QSYRXEMR
TEWWIW XS XLI PMZMRK HIEH - RIZIV HVIEQIH LS[IZIV XLEX
- [SYPH FI WYGL E ZMXEP TEVXMGMTERX *SV XLI WEOI SJ GMZMP GSRZIVWEXMSR - [MPP RSX
VITIEX Q] TVSJERI VIEGXMSR XS 1YOLIVNII RSV 1YOLIVNII W IUYEPP] TVSJERI
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WIGYVMRK XLI VSEH W QSYRXEMR IRXVERGI GSQI VYRRMRK TEWX XLI NIIT 1YOLIVNII
NYQTIH SYX ERH KVEFFIH XLI QER ;LEX XLI LIPP MW XLMW LI EWOIH LI [EW E FMK
QER XSYKL ERH ERKV] =SY [IVI WYTTSWIH XS OIIT XLI VSEH GPIEV 8LI SXLIV QER
[EW NYWX EW ERKV] NYWX EW WGEVIH =SY [ERX XS WLSSX ]SYV KVERHQSXLIV KS ELIEH
,I WLSZIH XLI WIVKIERX EWMHI ERH OITX KSMRK
1YOLIVNII OI]IH LMW VEHMS ERH VITSVXIH XLEX XLI VSEH [EW WXMPP LMKLP] EGXMZI %
ZSMGI GEQI FEGO XS LMQ E LMKL TMXGLIH JVERXMG ]SYRKIV ZSMGI SJ ER SJJMGIV
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MX RS[ RSX SRP] [SYPH [I FI WIRHMRK HS^IRW SJ TISTPI LYVXPMRK XS XLIMV HIEXLW FYX
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VSEH [SYPH RIZIV FI GPIEV XLEX XLI SRP] XLMRK FILMRH XLSWI TISTPI [EW E VEKMRK
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ZMI[ XLSWI XLI] VIWTIGX EW ETTIEVMRK TL]WMGEPP] XEPPIV XLER XLI] EGXYEPP] EVI -R Q]
QMRH LI ETTIEVW EW E ZMVXYEP KMERX )ZIR [MXL LMW XSVR YRMJSVQ LMW FPSSH] XYVFER
XLI TEXGL SR LMW VMKLX I]I ERH XLI FERHEKI SR LMW RSWI SRI SJ LMW QIR LEH
WQEWLIH LMQ MR XLI JEGI XS KIX LMQ SR XLI PEWX GLSTTIV SYX SJ +ERHLM 4EVO
+IRIVEP 6EN 7MRKL
?/LER XEOIW E HIIT FVIEXL LMW GLIWX JMPPMRK [MXL TVMHI
+IRXPIQIR LI FIKER LI GEPPIH YW +IRXPIQIR ERH I\TPEMRIH ZIV] GEVIJYPP]
XLEX XLI VSEH LEH XS FI HIWXVS]IH MQQIHMEXIP] 8LI EMV JSVGI [LEX [EW PIJX SJ MX
LEH MXW S[R SVHIVW GSRGIVRMRK XLI GPSWYVI SJ EPP QSYRXEMR TEWWIW %X XLMW QSQIRX
E WMRKPI 7LEQWLIV JMKLXIV FSQFIV [EW EPVIEH] SR WXEXMSR EFSZI SYV TSWMXMSR -J [I
JSYRH SYVWIPZIW YREFPI SV YR[MPPMRK XS EGGSQTPMWL SYV QMWWMSR XLIR XLI .EKYEV W
TMPSX [EW SVHIVIH XS I\IGYXI 7LMZE W ;VEXL (S ]SY ORS[ [LEX XLEX QIERW#
6EN 7MRKL EWOIH 1E]FI LI XLSYKLX - [EW XSS ]SYRK XS YRHIVWXERH SV QE]FI LI
QYWX LEZI KYIWWIH WSQILS[ XLEX - [EW 1YWPMQ FYX IZIR MJ - H ORS[R EFWSPYXIP]
RSXLMRK EFSYX XLI ,MRHY HIMX] SJ HIWXVYGXMSR IZIV]SRI MR YRMJSVQ LEH LIEVH
VYQSVW EFSYX XLI WIGVIX GSHI REQI JSV XLI YWI SJ XLIVQSRYGPIEV [IETSRW
;SYPHR X XLEX LEZI HIWXVS]IH XLI TEWW#
=IW ERH LEPJ XLI QSYRXEMR EW [IPP -RWXIEH SJ E REVVS[ GLSOI TSMRX LIQQIH MR F]
WLIIV GPMJJ [EPPW ]SY [SYPH LEZI LEH PMXXPI QSVI XLER E QEWWMZI KIRXP] WPSTMRK
VEQT 8LI [LSPI TSMRX SJ HIWXVS]MRK XLIWI VSEHW [EW XS GVIEXI E FEVVMIV
MREGGIWWMFPI XS XLI PMZMRK HIEH ERH RS[ WSQI MKRSVERX EMV JSVGI KIRIVEP [MXL ER
EXSQMG IVIGXMSR [EW KSMRK XS KMZI XLIQ XLI TIVJIGX IRXVERGI VMKLX MRXS XLI WEJI
^SRI
1YOLIVNII KYPTIH RSX WYVI SJ [LEX XS HS YRXMP XLI 8MKIV LIPH SYX LMW LERH JSV XLI
HIXSREXSV )ZIV XLI LIVS LI [EW RS[ [MPPMRK XS EGGITX XLI
-
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7MRKL XLEROIH LMQ XLEROIH YW FSXL [LMWTIVIH E TVE]IV XLIR TVIWWIH LMW XLYQFW
HS[R SR XLI JMVMRK FYXXSRW 2SXLMRK LETTIRIH LI XVMIH EKEMR RS VIWTSRWI ,I
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TVSFPIQ [EWR X XLI HIXSREXSV 7SQIXLMRK LEH KSRI [VSRK [MXL XLI GLEVKIW XLEX
[IVI FYVMIH LEPJ E OMPSQIXIV HS[R XLI VSEH WIX VMKLX MR XLI QMHHPI SJ XLI VIJYKIIW
8LMW MW XLI IRH - XLSYKLX [I VI EPP KSMRK XS HMI %PP - GSYPH XLMRO SJ [EW KIXXMRK
SYX SJ XLIVI JEV IRSYKL E[E] XS QE]FI EZSMH XLI RYGPIEV FPEWX - WXMPP JIIP KYMPX]
EFSYX XLSWI XLSYKLXW GEVMRK SRP] JSV Q]WIPJ MR E QSQIRX PMOI XLEX
8LERO +SH JSV +IRIVEP 6EN 7MRKL ,I VIEGXIH
I\EGXP] LS[ ]SY [SYPH I\TIGX E
PMZMRK PIKIRH XS VIEGX ,I SVHIVIH YW XS KIX SYX SJ LIVI WEZI SYVWIPZIW ERH KIX 8S
7LMQPE XLIR 8YVRIH ERH VER VMKLX MRXS GVS[H 1YOLIVNII ERH - PSSOIH EX IEGL
SXLIV [MXLSYX QYGL LIWMXEXMSR - Q LETT] XS WE] ERH XSSO SJX EJXIV LMQ
2S[ [I [ERXIH XS FI LIVSIW XSS XS TVSXIGX SYV KIRIVEP ERH WLMIPH LMQ JVSQ XLI
GVS[H ;LEX E NSOI ;I RIZIV IZIR WE[ LMQ SRGI XLI QEWWIW IR ZIPSTIH YW PMOI E
VEKMRK VMZIV - [EW TYWLIH ERH WLSZIH JVSQ EPP HMVIGXMSRW - HSR X ORS[ [LIR - [EW
TYRGLIH MR XLI I]I - WLSYXIH XLEX - RIIHIH XS KIX TEWX XLEX XLMW [EW EVQ] FYWMRIWW
2S SRI PMWXIRIH - JMVIH WIZIVEP WLSXW MR XLI EMV 2S SRI RSXMGIH - GSRWMHIVIH
EGXYEPP] JMVMRK MRXS XLI GVS[H - [EW FIGSQMRK EW HIWTIVEXI EW XLIQ 3YX SJ XLI
GSVRIV SJ Q] I]I - WE[ 1YOLIVNII KS XYQFPMRK SZIV XLI WMHI [MXL ERSXLIV QER WXMPP
JMKLXMRK JSV LMW VMJPI - XYVRIH XS XIPP +IRIVEP 6EN 7MRKL FYX GSYPHR X JMRH LMQ MR XLI
GVS[H - GEPPIH LMW REQI XVMIH XS WTSX LMQ EFSZI XLI SXLIV LIEHW - GPMQFIH SRXS
XLI VSSJ SJ E QMGVSFYW XV]MRK XS KIX Q] FIEVMRKW 8LIR XLI [MRH GEQI YT MX
FVSYKLX XLI WXMRO ERH QSER [LMTTMRK XLVSYKL XLI ZEPPI] -R JVSRX SJ QI EFSYX LEPJ
E OMPSQIXIV ELIEH XLI GVS[H FIKER VYRRMRK - WXVEMRIH Q] I]IW
WUYMRXIH 8LI
HIEH [IVI GSQMRK 7PS[ ERH HIPMFIVEXI ERH NYWX EW XMKLXP] TEGOIH EW XLI VIJYKIIW
XLI] [IVI HIZSYVMRK
8LI QMGVSFYW WLSSO ERH - JIPP *MVWX - [EW JPSEXMRK SR E WIE SJ LYQER FSHMIW XLIR
WYHHIRP] - [EW FIRIEXL XLIQ WLSIW ERH FEVI JIIX XVEQTPMRK SR Q] JPIWL - JIPX Q]
VMFW GVEGO - GSYKLIH ERH XEWXIH FPSSH - TYPPIH Q]
WIPJ YRHIV XLI QMGVSFYW 1] FSH] [EW EGLMRK FYVRMRK - GSYPHR X WTIEO - GSYPH
FEVIP] WII - LIEVH XLI WSYRH SJ XLI ETTVSEGLMRK ^SQFMIW - KYIWWIH XLEX XLI]
GSYPHR X FI QSVI XLER X[S LYRHVIH QIXIVW E[E] - W[SVI - [SYPHR X HMI PMOI XLI
SXLIVW EPP XLSWI ZMGXMQW XSVR XS TMIGIW XLEX GS[ - WE[ WXVYKKPMRK ERH FPIIHMRK SR
XLI FEROW SJ XLI 7EXPYN 6MZIV MR 6YTREKEV - JYQFPIH JSV Q] WMHIEVQ Q] LERH
[SYPHR X [SVO - GYVWIH ERH GVMIH - XLSYKLX - H FI VIPMKMSYW EX XLEX TSMRX FYX - [EW
NYWX WS WGEVIH ERH ERKV] - WXEVXIH FIEXMRK Q] LIEH EKEMRWX XLI YRHIVWMHI SJ XLI ZER
- XLSYKLX MJ - LMX MX LEVH IRSYKL - GSYPH FEWL MR Q] S[R WOYPP 7YHHIRP] XLIVI [EW
E HIEJIRMRK VSEV ERH XLI KVSYRH VSWI YT YRHIVRIEXL QI % [EZI SJ WGVIEQW ERH
QSERW QM\IH [MXL XLMW TS[IVJYP FPEWX SJ TVIWWYVM^IH HYWX 1] JEGI WPEQQIH MRXS
XLI QEGLMRIV] EFSZI ORSGOMRK QI GSPH
8LI JMVWX XLMRK - VIQIQFIV [LIR - GEQI XS [EW E ZIV] JEMRX WSYRH %X JMVWX XLSYKLX MX [EW [EXIV -X WSYRHIH PMOI E JEWX HVMT
XET XET XET PMOI XLEX 8LI XET
FIGEQI GPIEVIV ERH - WYHHIRP] FIGEQI E[EVI SJ X[S SXLIV WSYRHW XLI GVEGOPI SJ
Q] VEHMS
LS[ XLEX [EWR X WQEWLIH - PP RIZIV ORS[
ERH XLI IZIV TVIWIRX
LS[PMRK SJ XLI PMZMRK HIEH - GVE[PIH SYX JVSQ YRHIV XLI QMGVSFYW %X PIEWX Q]
PIKW [IVI WXMPP [SVOMRK [IPP IRSYKL XS WXERH - VIEPM^IH XLEX - [EW EPSRI RS
VIJYKIIW RS +IRIVEP 6EN 7MRKL - [EW WXERHMRK EQSRK E GSPPIGXMSR SJ HMWGEVHIH
TIVWSREP FIPSRKMRKW MR XLI QMHHPI SJ E HIWIVXIH QSYRXEMR TEXL -R JVSRX SJ QI [EW
E GLEVVIH GPMJJ [EPP &I]SRH MX [EW XLI SXLIV WMHI SJ XLI WIZIVIH VSEH
8LEX W [LIVI XLI QSER [EW GSQMRK JVSQ 8LI PMZMRK HIEH [IVI WXMPP GSQMRK JSV
QI ;MXL I]IW JVSRX ERH EVQW SYXWXVIXGLIH XLI] [IVI JEPPMRK MR HVSZIW SJJ XLI
WLEXXIVIH IHKI 8LEX [EW XLI XETTMRK WSYRH XLIMV FSHMIW
WQEWLMRK SR XLI ZEPPI] JPSSV JEV FIPS[
8LI 8MKIV QYWX LEZI WIX XLI HIQSPMXMSR GLEVKIW SJJ F] LERH - KYIWWIH LI QYWX
LEZI VIEGLIH XLIQ XLI WEQI XMQI EW XLI PMZMRK HIEH - LSTI XLI] HMHR X KIX XLIMV
XIIXL MR LMQ JMVWX - LSTI LI W TPIEWIH [MXL LMW WXEXYI XLEX RS[ WXERHW SZIV E
QSHIVR JSYV PERI QSYRXEMR JVII[E] - [EWR X XLMROMRK EFSYX LMW WEGVMJMGI EX XLEX
QSQIRX - [EWR X IZIR WYVI MJ ER] SJ XLMW [EW VIEP 7XEVMRK WMPIRXP] EX XLMW YRHIEH
[EXIVJEPP PMWXIRMRK XS Q] VEHMS VITSVX JVSQ XLI SXLIV YRMXW
:MOEWREKEV 7IGYVI
1E\ &VSSOW
&MPEWTYV 7IGYVI
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%PP TEWWIW VITSVX WIGYVI 3ZIV
%Q - HVIEQMRK - XLSYKLX EQ . MRWERI#
8LI QSROI] HMHR X LIPT QEXXIVW ER] ,I [EW WMXXMRK SR XST SJ XLI QM GVSFYW NYWX
[EXGLMRK XLI YRHIEH TPYRKI XS XLIMV IRH ,MW JEGI ETTIEVIH WS WIVIRI WS
MRXIPPMKIRX EW MJ LI XVYP] YRHIVWXSSH XLI WMXYEXMSR - EPQSWX [ERXIH LMQ XS XYVR XS
QI ERH WE] 8LMW MW XLI XYVRMRK TSMRX SJ XLI [EV ;I ZI JMREPP] WXSTTIH XLIQ
;I VI JMREPP] WEJI &YX MRWXIEH LMW PMXXPI TIRMW
TSTTIH SYX ERH LI TIIH MR Q] JEGI
,31)
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97%
8ESW 2I[ 1I\MGS
?%VXLYV 7MRGPEMV .YRMSV MW XLI TMGXYVI SJ ER SPH [SVPH TEXVMGMER XEPP PIER [MXL
HSWI GVSTTIH [LMXI LEMV ERH ER EJJIGXIH ,EVZEVH EGGIRX ,I WTIEOW MRXS XLI IXLIV
VEVIP] QEOMRK I]I GSRXEGX SV TEYWMRK JSV UYIWXMSRW (YVMRK XLI [EV 1MWXIV 7MRGPEMV
[EW
HMVIGXSV SJ XLI 9 7 KSZIVRQIRX W RI[P] JSVQIH (I7X6IW SV (ITEVXQIRX SJ 7XVEXIKMG 6IWSYVGIW A
- HSR X ORS[ [LS JMVWX XLSYKLX SJ XLI EGVSR]Q (I7X6IW SV MJ XLI] GSMZ WGMSYWP]
ORI[ LS[ QYGL MX WSYRHIH PMOI HMWXVIWW LYX MX GIVXEMRP] GSYPH RSX LEZI FIIR
QSVI ETTVSTVMEXI )WXEFPMWLMRK E HIJIRWMZI PMRI EX XLI 6SGO] 1SYRXEMRW QMKLX
LEZI GVIEXIH E XLISVIXMGEP WEJI ^SRI FYX MR VIEPMX] XLEX
^SRI GSRWMWXIH QEMRP] SJ VYFFPI ERH VIJYKIIW 8LIVI [EW WXEVZEXMSR HMWIEWI
LSQIPIWWRIWW MR XLI QMPPMSRW -RHYWXV] [EW MR WLEQFPIW XVERWTSVXEXMSR ERH XVEHI
LEH IZETSVEXIH ERH EPP SJ XLMW [EW GSQTSYRHIH F] XLI PMZMRK HIEH FSXL EWWEYPXMRK
XLI 6SGO] 0MRI ERH JIWXIVMRK [MXLMR SYV WEJI ^SRI ;I LEH XS KIX SYV TISTPI SR
XLIMV JIIX EKEMR GPSXLIH JIH LSYWIH
1E\ &VSSOW
ERH FEGO XS [SVO SXLIV[MWI XLMW WYTTSWIH WEJI ^SRI [EW SRP] JSVIWXEPPMRK XLI
MRIZMXEFPI 8LEX [EW [L] XLI (I7X6IW [EW GVIEXIH ERH EW ]SY GER MQEKMRI - LEH
XS HS E PSX SJ SR XLI NSF XVEMRMRK
8LSWI JMVWX QSRXLW - GER X XIPP ]SY LS[ QYGL MRJSVQEXMSR - LEH XS GVEQ MRXS XLMW
[MXLIVIH SPH GSVXI\ XLI FVMIJMRKW XLI MRWTIGXMSR XSYVW
[LIR - HMH WPIIT MX [EW
[MXL E FSSO YRHIV Q] TMPPS[ IEGL RMKLX E RI[ SRI JVSQ ,IRV] . /EMWIV XS :S
2KY]IR +MET - RIIHIH IZIV] MHIE IZIV] [SVH IZIV] SYRGI SJ ORS[PIHKI ERH
[MWHSQ XS LIPT QI JYWI E JVEGXYVIH PERHWGETI MRXS XLI QSHIVR %QIVMGER [EV
QEGLMRI -J Q] JEXLIV LEH FIIR EPMZI LI TVSFEFP] [SYPH LEZI PEYKLIH EX Q]
JVYWXVEXMSR ,I H FIIR E WXEYRGL 2I[ (IEPIV [SVOMRK GPSWIP] [MXL *(6 EW
GSQTXVSPPIV SJ 2I[ =SVO 7XEXI ,I YWIH QIHMSHW XLEX [IVI EPQSWX 1EV\MWX MR
REXYVI XLI OMRH SJ GSPPIGXMZM^EXMSR XLEX [SYPH QEOI %]R 6ERH PIET JVSQ LIV KVEZI
ERH NSMR
XLI VEROW SJ XLI PMZMRK HIEH - H EP[E]W VINIGXIH XLI PIWWSRW LI H XVMIH XS MQTEVX
VYRRMRK EW JEV E[E] EW ;EPP 7XVIIX XS WLYX XLIQ SYX 2S[ - [EW [VEGOMRK Q]
FVEMRW XS VIQIQFIV XLIQ 3RI XLMRK XLSWI 2I[ (IEPIVW HMH FIXXIV XLER ER]
KIRIVEXMSR MR %QIVMGER LMWXSV] [EW JMRH ERH LEVZIWX XLI VMKLX XSSPW ERH XEPIRX
8SS W ERH XEPIRX#
% XIVQ Q] WSR LEH LIEVH SRGI MR E QSZMI - JSYRH MX HIWGVMFIH SYV VIGSRWXVYGXMSR
IJJSVXW VEXLIV [IPP 8EPIRX HIWGVMFIW XLI TSXIRXMEP [SVOJSVGI MXW PIZIP SJ WOMPPIH
PEFSV ERH LS[ XLEX PEFSV GSYPH FI YXMPM^IH IJJIGXMZIP] 8S FI TIVJIGXP] GERHMH SYV
WYTTP] SJ XEPIRX [EW EX E GVMXMGEP PS[ 3YVW [EW E TSWXMRHYWXVMEP SV WIVZMGI FEWIH
IGSRSQ] WS GSQTPI\ EVMH LMKLP] WTIGMEPM^IH XLEX IEGL MRHMZMHYEP GSYPH SRP]
JYRGXMSR [MXLMR XLI GSRJMRIW SJ MXW REVVS[ GSQTEVXQIRXEPM^IH WXVYGXYVI =SY
WLSYPH LEZI WIIR WSQI SJ XLI GEVIIVW PMWXIH SR SYV JMVWX IQTPS]QIRX GIRWYW
IZIV]SRI [EW WSQI ZIVWMSR SJ ER I\IGYXMZI E VITVIWIRXEXMZI ER EREP]WX SV E
GSRWYPXERX EPP TIVJIGXP] WYMXIH XS XLI TVI[EV [SVPH FYX EPP XSXEPP] MREHIUYEXI JSV
XLI TVIWIRX GVMWMW ;I RIIHIH GEVTIRXIVW QEWSRW QEGLMRMWXW KYRWQMXLW ;I LEH
XLSWI TISTPI XS FI WYVI FYX RSX RIEVP] EW QER] EW [IVI RIGIWWEV] 8LI JMVWX PEFSV
WYVZI]
WXEXIH GPIEVP] XLEX SZIV
TIVGIRX SJ XLI TVIWIRX GMZMPMER [SVOJSVGI [IVI GPEWWMJMIH
* TSWWIWWMRK RS ZEPYIH ZSGEXMSR ;I VIUYMVIH E QEWWMZI NSF VI 8VEMRMRK
TVSKVEQ -R WLSVX [I RIIHIH XS KIX E PSX SJ [LMXI GSPPEVW HMVX]
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WLEQFPIW ERH JYIP KSSH 0SVH ]SY GSYPHR X JMRH E XERO SJ KEW FIX[IIR &PEMRI
;EWLMRKXSR ERH -QTIVMEP &IEGL 'EPMJSVRME %HH XS XLMW XLI JEGX XLEX TVI[EV
%QIVMGE RSX SRP] LEH E GSQQYXIV FEWIH MRJVEWXVYGXYVI FYX XLEX WYGL E QIXLSH
EPWS EPPS[IH JSV WIZIVI PIZIPW SJ IGSRSQMG WIKVIKEXMSR =SY [SYPH LEZI IRXMVI
WYFYVFER RIMKLFSVLSSHW SJ YTTIV QMHHPI GPEWW TVSJIWWMSREPW RSRI SJ [LSQ LEH
TSWWIWWIH IZIR XLI FEWMG ORS[ LS[ XS VITPEGI E GVEGOIH [MRHS[ 8LSWI [MXL XLEX
ORS[PIHKI PMZIH MR XLIMV S[R FPYI GSPPEV KLIXXSW ER LSYV E[E] MR TVI[EV EYXS
XVEJJMG [LMGL XVERWPEXIH XS EX PIEWX E JYPP HE] SR JSSX 1EOI RS QMWXEOI FMTIHEP
PSGSQSXMSR [EW LS[ QSWX TISTPI XVEZIPIH MR XLI FIKMRRMRK
7SPZMRK XLMW TVSFPIQ RS GLEPPIRKI XLIVI EVI RS TVSFPIQW [EW XLI VIJYKII GEQTW
8LIVI [IVI LYRHVIHW SJ XLIQ WSQI TEVOMRK PSX WQEPP WSQI WTVIEHMRK JSV QMPIW
WGEXXIVIH EGVSWW XLI QSYRXEMRW ERH GSEWX EPP VIUYMVMRK KSZIVRQIRX EWWMWXERGI EPP
EGYXI HVEMRW SR VETMHP] HMQMRMWLMRK VIWSYVGIW %X XLI XST SJ Q] PMWX FIJSVI XEGOPIH ER] SXLIV GLEPPIRKI HMIWI GEQTW LEH XS FI IQTXMIH %R]SRI * FYX
TL]WMGEPP] EFPI FIGEQI YRWOMPPIH PEFSV GPIEVMRK VYFFPI LEVZIWXMRK GVSTW HMKKMRK
KVEZIW % PSX SJ KVEZIW RIIHIH XS FI HYK %R]SRI % P XLSWI [MXL [EV ETTVSTVMEXI
WOMPPW FIGEQI TEVX SJ SYV '774 SV 'SQQYRMX] 7IPJ 7YJJMGMIRG] 4VSKVEQ %
QM\IH KVSYT SJ MRWXVYGXSVW [SYPH FI XEWOIH [MXL MRJYWMRK XLIWI WIHIRXEV]
SZIVIHYGEXIH HIWO FSYRH GYFMGPI QMGI [MXL XLI ORS[PIHKI RIGIWWEV] XS QEOI MX
SR XLIMV S[R
-X [EW ER MRWXERX WYGGIWW ;MXLMR XLVII QSRXLW ]SY WE[ E QEVOIH HVST MR VIUYIWXW
JSV KSZIVRQIRX EMH - GER X WXVIWW LS[ ZMXEP XLMW [EW XS ZMGXSV] -X EPPS[IH YW XS
XVERWMXMSR JVSQ E ^IVS WYQ WYVZMZEP FEWIH IGSRSQ] MRXS JYPP FPS[R [EV
TVSHYGXMSR 8LMW [EW XLI 2EXMSREP 6IIHYGEXMSR %GX XLI SVKERMG SYXKVS[XL SJ XLI
'774 - H WE] MX [EW XLI PEVKIWX NSFW XVEMRMRK TVSKVEQ WMRGI XLI 7IGSRH ;SVPH
;EV ERH IEWMP] XLI QSWX VEHMGEP MR SYV LMWXSV]
1E\ &VSSOW =SY ZI QIRXMSRIH SR SGGEWMSR XLI TVSFPIQW JEGIH F] XLI
26%
- [EW KIXXMRK XS XLEX 8LI TVIWMHIRX KEZI QI XLI OMRH SJ TS[IV - RIIHIH XS QIIX
ER] TL]WMGEP SV PSKMWXMGEP GLEPPIRKI 9RJSVXYREXIP] [LEX RIMXLIV LI RSV ER]SRI SR
)EVXL GSYPH KMZI QI [EW XLI TS[IV XS GLERKI XLI [E] TISTPI XLSYKLX %W I\TPEMRIH %QIVMGE [EW E WIKVIKEXIH [SVOJSVGI ERH MR QER] GEWIW XLEX
WIKVIKEXMSR GSRXEMRIH E GYPXYVEP IPIQIRX % KVIEX QER] SJ SYV MRWXVYGXSVW [IVI
JMVWX KIRIVEXMSR MQQMKVERXW 8LIWI [IVI XLI TISTPI [LS ORI[ LS[ XS XEOI GEVI SJ
XLIQWIPZIW LS[ XS WYVZMZI SR ZIV] PMXXPI ERH [SVO [MXL [LEX XLI] LEH 8LIWI [IVI
XLI TISTPI [LS XIRHIH WQEPP
KEVHIRW MR XLIMV FEGO]EVHW [LS VITEMVIH XLIMV S[R LSQIW [LS OITX XLIMV
ETTPMERGIW VYRRMRK JSV EW PSRK EW QIGLERMGEPP] TSWWMFPI -X [EW GVYGMEP XLEX XLIWI
TISTPI XIEGL XLI VIWX SJ YW XS FVIEO JVSQ SYV GSQJSVXEFPI HMWTSWEFPI GSRWYQIV
PMJIWX]PI IZIR XLSYKL XLIMV PEFSV LEH EPPS[IH YW XS QEMRXEMR XLEX PMJIWX]PI MR XLI
JMVWX TPEGI
=IW XLIVI [EW VEGMWQ FYX XLIVI [EW EPWS GPEWWMWQ =SY VI E LMKPZTS[IVIH
GSVTSVEXI EXXSVRI] =SY ZI WTIRX QSWX SJ ]SYV PMJI VIZMI[MRK GSRXVEGXW FVSOIVMRK
HIEPW XEPOMRK SR XLI TLSRI 8LEX W [LEX ]SY VI KSSH EX XLEX W [LEX QEHI ]SY VMGL
ERH [LEX EPPS[IH ]SY XS LMVI E TPYQFIV XS JM\ ]SYV XSMPIX [LMGL EPPS[IH ]SY XS
OIIT XEPOMRK SR XLI TLSRI 8LI QSVI [SVO ]SY HS XLI QSVI QSRI] ]SY QEOI XLI
QSVI TISRW ]SY LMVI XS JVII ]SY YT XS QEOI QSVI QSRI] 8LEX W XLI [E] XLI [SVPH
[SVOW &YX SRI HE] MX HSIWR X 2S SRI RIIHW E GSRXVEGX VIZMI[IH SV E HIEP
FVSOIVIH ;LEX MX HSIW RIIH MW XSM PIXW JM\IH %RH WYHHIRP] XLEX TISR MW ]SYV
XIEGLIV QE]FI IZIR ]SYV FSWW *SV WSQI XLMW [EW WGEVMIV XLER XLI PMZMRK HIEH
3RGI SR E JEGX JMRHMRK XSYV XLVSYKL 0% - WEX MR XLI FEGO SJ E VIIHYGEXMSR PIGXYVI
8LI XVEMRIIW LEH EPP LIPH PSJX] TSWMXMSRW MR XLI IRXIVXEMRQIRX MRHYWXV] E QIPERKI SJ
EKIRXW QEREKIVW GVIEXMZI I\IGYXMZIW [LEXIZIV XLI LIPP XLEX QIERW - GER
YRHIVWXERH XLIMV VIWMWXERGI XLIMV EVVSKERGI &IJSVI XLI [EV IRXIVXEMRQIRX LEH
FIIR XLI QSWX ZEPYIH I\TSVX SJ XLI 9RMXIH 7XEXIW 2S[ XLI] [IVI FIMRK XVEMRIH EW
GYWXSHMERW JSV E QYRMXMSRW TPERX MR &EOIVWJMIPH 'EPMJSVRME 3RI [SQER E GEWXMRK
HMVIGXSV I\TPSHIH ,S[ HEVI XLI] HIKVEHI LIV PMOI XLMW 7LI LEH ER 1*% MR
'SRGITXYEP 8LIEXIV WLI LEH GEWX XLI XST XLVII KVSWWMRK WMXGSQW MR XLI PEWX JMZI
WIEWSRW ERH WLI
QEHI QSVI MR E [IIO XLER LIV MRWXVYGXSV GSYPH HVIEQ SJ MR WIZIVEP PMXI XMQIW 7LI
OITX EHHVIWWMRK XLEX MRWXVYGXSV F] LIV JMVWX REQI 1EKHE WLI OITX WE]MRK
1EKHE IRSYKL EPVIEH] 1EKHE TPIEWI %X JMVWX - XLSYKLX XLMW [SQER [EW NYWX
FIMRK VYHI HIKVEHMRK XLI MRWXVYGXSV F] VIJYWMRK XS YWI LIV XMXPI - JSYRH SYX PEXIV
XLEX 1VW 1EKHE %RXSRSZE YWIH XS FI XLMW [SQER W GPIERMRK PEH] =IW MX [EW ZIV]
LEVH JSV WSQI FYX E PSX SJ XLIQ PEXIV EHQMXXIH XLEX XLI] KSX QSVI IQSXMSREP
WEXMWJEGXMSR JVSQ XLIMV RI[ NSFW XLER ER]XLMRK GPSWIP] VIWIQFPMRK XLIMV SPH SRIW
- QIX SRI KIRXPIQER SR E GSEWXEP JIVR JVSQ 4SVXPERH XS 7IEXXPI ,I LEH [SVOIH MR
XLI PMGIRWMRK HITEVXQIRX JSV ER EHZIVXMWMRK EKIRG] WTIGMJMGEPP] MR GLEVKI SJ
TVSGYVMRK XLI VMKLXW XS GPEWWMG VSGO WSRKW JSV XIPIZMWMSR GSQ QIVGMEPW 2S[ LI [EW
E GLMQRI] W[IIT +MZIR XLEX QSWX LSQIW MR 7IEXXPI LEH PSWX XLIMV GIRXVEP LIEX ERH
XLI [MRXIVW [IVI RS[ PSRKIV ERH GSPHIV LI [EW WIPHSQ MHPI - LIPT OIIT Q]
RIMKLFSVW [EVQ LI WEMH TVSYHP] - ORS[ MX WSYRHW E PMXXPI XSS 2SVQER 6SGO[IPP
FYX - LIEV WXSVMIW PMOI XLEX EPP XLI XMQI =SY WII XLSWI WLSIW - QEHI XLIQ 8LEX
W[IEXIV XLEX W Q] WLIIT W [SSP 0MOI XLI GSVR# 1] KEVHIR 8LEX [EW XLI YTWLSX
SJ E QSVI PSGEP M^IH W]WXIQ -X KEZI TISTPI XLI STTSVXYRMX] XS WII XLI JVYMXW SJ XLIMV
PEFSV MX KEZI XLIQ E WIRWI SJ MRHMZMHYEP TVMHI XS ORS[ XLI] [IVI QEOMRK E GPIEV
GSRGVIXI GSRXVMFYXMSR XS ZMGXSV] ERH MX KEZI QI E [SRHIVJYP JIIPMRK XLEX - [EW TEVX
SJ XLEX - RIIHIH XLEX JIIPMRK -X OITX QI WERI JSV XLI SXLIV TEVX SJ Q] NSF
7S QYGL JSV XEPIRX 8SSPW EVI XLI [IETSRW SJ [EV ERH XLI MRHYWXVMEP ERH
PSKMWXMGEP QIERW F] [LMGL XLSWI [IETSRW EVI GSRWXVYGXIH
?,I W[MZIPW MR LMW GLEMV QSXMSRMRK XS E TMGXYVI EFSZI LMW HIWO - PIER GPSWIV ERH
WII XLEX MX W RSX E TMGXYVI FYX E JMEQIH PEFIP
-RKVIHMIRXW
QSPEWWIW JVSQ XLI 9RMXIH 7XEXIW
ERMWI JVSQ 7TEMR
PMGSVMGI JVSQ *VERGI
1E\ &VSSOW
ZERMPPE FSYVFSR JVSQ 1EHEKEWGEV GMRREQSR JVSQ 7VM 0EROE GPSZIW JVSQ
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4IVY
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WSQIXLMRK PMOI E HIWOXST 4' SV E RYGPIEV TS[IVIH EMVGVEJX GEVVMIV
%WO ER]SRI LS[ XLI %PPMIW [SR HMI 7IGSRH ;SVPH ;EV 8LSWI [MXL ZIV] PMXXPI
ORS[PIHKI QMKLX ERW[IV XLEX MX [EW SYV RYQFIVW SV KIRIVEPWLMT 8LSWI [MXLSYX
ER] ORS[PIHKI QMKLX TSMRX XS XIGLRS QEVZIPW PMOI VEHEV SV XLI EXSQ FSQF
7GS[PW %R]SRI [MXL XLI QSWX VYHMQIRXEV] YRHIVWXERHMRK SJ XLEX GSRJPMGX [MPP
KMZI ]SY XLVII VIEP VIEWSRW JMVWX XLI EFMPMX] XS QERYJEGXYVI QSVI QEXIVMIP QSVI
FYPPIXW FIERW ERH FERHEKIW XLER XLI IRIQ] WIGSRH XLI REXYVEP VIWSYVGIW
EZEMPEFPI XS QERYJEGXYVI XLEX QEXIVMIP ERH XLMVH XLI PSKMWXMGEP QIERW XS RSX SRP]
XVERWTSVX XLSWI VIWSYVGIW XS XLI JEGXSVMIW FYX EPWS XS XVERWTSVX XLI JMRMWLIH TVSHYGXW
SYX XS XLI JVSRX PMRIW 8LI %PPMIW LEH XLI VIWSYVGIW MRHYWXV] ERH PSKMWXMGW SJ ER
IRXMVI TPERIX 8LI %\MW SR XLI SXLIV LERH LEH XS HITIRH SR [LEX WGERX EWWIXW XLI]
GSYPH WGVETI YT [MXLMR XLIMV FSVHIVW 8LMW XMQI [I [IVI XLI %\MW 8LI PMZMRK HIEH
GSRXVSPPIH QSWX SJ XLI [SVPH W PERHQEWW [LMPI %QIVMGER [EV TVSHYGXMSR HITIRHIH
SR [LEX GSYPH FI LEVZIWXIH [MXLMR XLI PMQMXW SJ XLI [IWXIVR WXEXIW WTIGMJMGEPP]
*SVKIX VE[ QEXIVMEPW JVSQ WEJI ^SRIW SZIVWIEW SYV QIVGLERX JPIIX [EW GVEQQIH XS
XLI HIGOW [MXL VIJYKIIW [LMPI JYIP WLSVXEKIW LEH HV] HSGOIH QSWX SJ SYV REZ]
;I LEH WSQI EHZERXEKIW 'EPMJSVRME W EKVMGYPXYVEP FEWI GSYPH EX PIEWX IVEWI XLI
TVSFPIQ SJ WXEVZEXMSR MJ MX GSYPH FI VIWXVYGXYVIH 8LI GMXVYW KVS[IVW HMHR X KS
UYMIXP] RIMXLIV HMH XLI VERGLIVW 8LI FIIJ FEVSRW [LS GSRXVSPPIH WS QYGL TVMQI
TSXIRXMEP JEVQPERH [IVI XLI [SVWX (MH ]SY IZIV LIEV SJ (SR ,MPP# )ZIV WII XLI
QSZMI 6S] )PPMSX HMH SR LMQ# -X [EW [LIR
XLI MRJIWXEXMSR LMX XLI 7ER .SEUYMR :EPPI] XLI HIEH W[EVQMRK SZIV LMW JIRGIW
EXXEGOMRK LMW GEXXPI XIEVMRK XLIQ ETEVX PMOI %JVMGER HVMZIV ERXW %RH XLIVI LI [EW
MR XLI QMHHPI SJ MX EPP WLSSXMRK ERH LSPPIVMRK PMOI +VIKSV] 4IGO MR (YIP MR XLI 7YR
- HIEPX [MXL LMQ STIRP] ERH LSRIWXP] %W [MXL IZIV]SRI IPWI - KEZI LMQ XLI
GLSMGI - VIQMRHIH LMQ XLEX [MRXIV [EW GSQMRK ERH XLIVI [IVI WXMPP E PSX SJ ZIV]
LYRKV] TISTPI SYX XLIVI - [EVRIH LMQ XLEX [LIR XLI LSVHIW SJ WXEVZMRK VIJYKIIW
WLS[IH YT XS JMRMWL [LEX XLI PMZMRK HIEH WXEVXIH LI H LEZI RS KSZIVRQIRX
TVSXIGXMSR [LEXWSIZIV ,MPP [EW E FVEZI WXYFFSVR FEWXEVH FYX LI [EWR X ER MHMSX
,I EKVIIH XS WYVVIRHIV LMW PERH ERH LIVH SRP] SR XLI GSRHMXMSR XLEX LMW ERH
IZIV]SRI IPWI W FVIIHMRK WXSGO VIQEMRIH YRXSYGLIH ;I WLSSO SR XLEX
8IRHIV NYMG] WXIEOW GER ]SY XLMRO SJ E FIXXIV MGSR SJ SYV TVI[EV EVXMJMGMEP WXERHEVH
SJ PMZMRK %RH ]IX MX [EW XLEX WXERHEVH XLEX IRHIH YT FIMRK SYV WIGSRH KVIEX
EHZERXEKI 8LI SRP] [E] XS WYTTPIQIRX SYV VIWSYVGI FEWI [EW VIG]GPMRK 8LMW [EW
RSXLMRK RI[ 8LI -WVEIPMW LEH WXEVXIH [LIR XLI] WIEPIH XLIMV FSVHIVW ERH WMRGI XLIR
IEGL REXMSR LEH EHSTXIH MX XS SRI HIKVII SV ERSXLIV 2SRI S_ XLIMV WXSGOTMPIW
LS[IZIV GSYPH IZIR GSQTEVI XS [LEX [I LEH EX SYV HMWTSWEP 8LMRO EFSYX [LEX
PMJI [EW PMOI MR XLI TVI[EV %QIVMGE )ZIR XLSWI GSRWMHIVIH QMHHPI GPEWW IRNS]IH
SV XSSO JSV KVERXIH E PIZIP SJ QEXIVMEP GSQJSVX YRLIEVH SJ F] ER] SXLIV REXMSR EX
ER] SXLIV XMQI MR LYQER LMWXSV] 8LI GPSXLMRK XLI OMXGLIR[EVI XLI IPIGXVSRMGW XLI
EYXSQSFMPIW NYWX MR XLI 0SW %RKIPIW FEWMR EPSRI SYXRYQFIVIH XLI TVI[EV
TSTYPEXMSR F] XLVII XS SRI 8LI GEVW TSYVIH MR F] XLI QMPPMSRW IZIV] LSYWI IZIV]
RIMKLFSVLSSH ;I LEH ER IRXMVI MRHYWXV] SJ SZIV E LYRHVIH XLSYWERH IQTPS]IIW
[SVOMRK HMVII WLMJXW WIZIR HE]W E [IIO GSPPIGXMRK
GEXEPSKMRK HMWEWWIQFPMRK WXSVMRK ERH WLMTTMRK TEVXW ERH TMIGIW XS JEGXSVMIW EPP
SZIV XLI GSEWX 8LIVI [EW E PMXXPI XVSYFPI PMOI [MXL XLI GEXXPI VERGLIVW TISTPI RSX
[ERXMRK XS XYVR SZIV XLIMV ,YQQIVW SV ZMRXEKI -XEPMER QMHPMJI GVMWMW QSFMPIW
*YRR] RS KEW XS VYR XLIQ FYX XLI] WXMPP LYRK SR ER][E] -X HMHR X FSXLIV QI XSS
QYGL 8LI] [IVI E TPIEWYVI XS HIEP [MXL GSQTEVIH XS XLI QMPMXEV] IWXEFPMWLQIRX
3J EPP Q] EHZIVWEVMIW IEWMP] XLI QSWX XIREGMSYW [IVI XLI SRIW MR YRMJSVQ - RIZIV
LEH HMVIGX GSRXVSP SZIV ER] SJ XLIMV 6 ( XLI] [IVI JVII XS KVIIR PMKLX [LEXIZIV
XLI] [ERXIH &YX KMZIR XLEX EPQSWX EPP XLIMV TVSKVEQW
1E\ &VSSOW
[IVI JEVQIH SYX XS GMZMPMER GSRXVEGXSVW ERH XLEX XLSWI GSRXVEGXSVW HITIRHIH SR
VIWSYVGIW GSRXVSPPIH F] (I7X6IW - LEH HI JEGXS GSRXVSP =SY GERRSX QSXLFEPP SYV
7XIEPXL FSQFIVW XLI] [SYPH ]IPP ;LS XLI &PERO HS ]SY XLMRO ]SY EVI XS GERGIP
SYV TVSHYGXMSR SJ XEROW# %X JMVWX - XVMIH XS VIEWSR [MXL XLIQ 8LI 1 P %FVEQW
LEW E NIX IRKMRI ;LIVI EVI ]SY KSMRK XS JMRH XLEX OMRH SJ JYIP # ;L] HS ]SY RIIH
7XIEPXL EMVGVEJX EKEMRWX ER IRIQ] XLEX HSIWR X LEZI VEHEV# - XVMIH XS QEOI XLIQ WII
XLEX KMZIR [LEX [I LEH XS [SVO [MXL EW STTSWIH XS [LEX [I [IVI JEGMRK [I
WMQTP] LEH XS KIX XLI PEVKIWX VIXYVR SR SYV MRZIWXQIRX SV MR XLIMV PERKYEKI XLI
QSWX
FERK JSV SYV FYGO 8LI] [IVI MRWYJJIVEFPI [MXL XLIMV EPP LSYVW TLSRI GEPPW SV NYWX
WLS[MRK YT EX Q] SJJMGI YRERRSYRGIH - KYIWW - GER X VIEPP] FPEQI XLIQ RSX EJXIV
LS[ [I EPP XVIEXIH XLIQ EJXIV XLI PEWX FVYWLJMVI [EV ERH GIVXEMRP] RSX EJXIV EPQSWX
LEZMRK XLIMV EWWIW LERHIH XS XLIQ EX =SROIVW 8LI] [IVI XIIXIVMRK SR XLI IHKI SJ
XSXEP GSPPETWI ERH E PSX SJ XLIQ NYWX RIIHIH WSQI[LIVI XS ZIRX
?,I KVMRW GSRJMHIRXP]
- WXEVXIH Q] GEVIIV XVEHMRK SR XLI JPSSV SJ XLI 2=7) WS - GER ]IPP EW LEVH ERH PSRK
EW ER] TVSJIWWMSREP HVMPP WIVKIERX %JXIV IEGL QIIXMRK - H I\TIGX XLI GEPP XLI SRI
4H FIIR FSXL HVIEHMRK ERH LSTMRK JSV 1MWXIV 7MRGPEMV XLMW MW XLI TVIWMHIRX - NYWX
[ERX XS XLERO ]SY JSV ]SYV WIVZMGI ERH [I PP RS PSRKIV FI VIUYMVMRK
?'LYGOPIW A -X RIZIV GEQI 1] KYIWW MW RS SRI IPWI [ERXIH XLI NSF
?,MW WQMPI JEHIW A
4Q RSX WE]MRK XLEX - HMHR X QEOI QMWXEOIW - ORS[ - [EW XSS EREP EFSYX XLI EMV
JSVGI W ( 'SVTW HMHR X YRHIVWXERH XLIMV WEJIX] TVSXSGSPW SV [LEX HMVMKMFPIW GSYPH
VIEPP] EGGSQTPMWL MR YRHIEH [EVJEVI %PP ORI[ [EW XLEX [MXL SYV RIKPMKMFPI
LIPMYQ WYTTP] XLI SRP] GSWX IJJIGXMZI PMJX KEW [EW L]HVSKIR ERH RS [E] [EW KSMRK XS [EWXI PMZIW ERH VIWSYVGIW SR E JPIIX SJ QSHIVR HE] ,MRHIRFYVKW - EPWS
LEH XS FI TIVWYEHIH F] XLI TVIWMHIRX RS PIWW XS VISTIR XLI I\TIVMQIRXEP GSPH
JYWMSR TVSNIGX EX 0MZIVQSVI ,I EVKYIH XLEX
IZIR XLSYKL E FVIEOXLVSYKL [EW EX FIWX WXMPP HIGEHIW E[E] TPERRMRK JSV XLI
JYXYVI PIXW SYV TISTPI ORS[ XLIVI [MPP FI SRI - [EW XSS GSRWIVZEXMZI [MXL WSQI
TVSNIGXW ERH [MXL SXLIVW - [EW JEV XSS PMFIVEP
4VSNIGX =IPPS[ .EGOIX - WXMPP OMGO Q]WIPJ [LIR - XLMRO EFSYX XLEX SRI 8LIWI
7MPMGSR :EPPI] IKKLIEHW EPP SJ XLIQ KIRMYWIW MR XLIMV S[R JMIPH GSRZMRGIH QI XLEX
XLI] LEH E [SRHIV [IETSR XLEX GSYPH [MR XLI [EV XLISVIXMGEPP] [MXLMR JSVX]
IMKLX LSYVW SJ HITPS]QIRX 8LI] GSYPH FYMPH QMGVS QMWWMPIW QMPPMSRW SJ XLIQ
EFSYX XLI WM^I SJ E
VMQJMVI FYPPIX XLEX GSYPH FI WGEXXIVIH JVSQ XVERWTSVX EMVGVEJX
XLIR KYMHIH F] WEXIPPMXIW XS XLI FVEMR SJ IZIV] ^SQFMI MR 2SVXL %QIVMGE 7SYRHW
EQE^MRK VMKLX# -X HMH XS QI
?,I KVYQFPIW XS LMQWIPJ
;LIR - XLMRO SJ [LEX [I TSYVIH HS[R XLEX LSPI [LEX [I GSYPH LEZI TVSHYGIH
MRWXIEH
ELLL
RS TSMRX MR H[IPPMRK SR MX RS[
- GSYPH LEZI KSRI LIEH XS LIEH EKEMRWX XLI QMPMXEV] JSV XLI HYVEXMSR SJ XLI [EV FYX
- Q KVEXIJYP MR XLI IRH XLEX - HMHR X LEZI XS ;LIR 8VEZMW ( %QFVSWME FIGEQI
GLEMVQER SJ XLI .SMRX 'LMIJW LI RSX SRP] MRZIRXIH XLI VIWSYVGI XS OMPP VEXMS FYX
HIZIPSTIH E GSQTVILIRWMZI WXVEXIK] XS IQTPS] MX - EP[E]W PMWXIRIH XS LMQ [LIR LI
XSPH QI E GIVXEMR [IETSRW W]WXIQ [EW ZMXEP - XVYWXIH LMW STMRMSR MR QEXXIVW PMOI XLI
RI[ &EXXPI (VIWW 9RMJSVQ SV XLI 7XERHEVH -RJERXV] 6MJPI
;LEX [EW WS EQE^MRK XS WII [EW LS[ XLI GYPXYVI SJ 6/6 FIKER XS XEOI LSPH
EQSRK XLI VERO ERH XMPI =SY H LIEV WSPHMIVW XEPOMRK SR XLI WXVIIX MR FEVW SR XLI
XVEMR ;L] LEZI < [LIR JSV XLI WEQI TVMGI ]SY GSYPH LEZI
XIR =W [LMGL GSYPH OMPP E LYRHVIH XMQIW EW QER] >W 7SPHMIVW IZIR FIKER GSQMRK
YT [MXL MHIEW SR XLIMV S[R MRZIRXMRK QSVI GSWX IJJIGXMZI XSSPW XLER [I GSYPH LEZI
IRZMWMSRIH - XLMRO XLI] IRNS]IH MX MQTVSZMWMRK EHETXMRK SYXXLMROMRK YW
FYVIEYGVEXW 8LI QEVMRIW WYVTVMWIH QI XLI QSWX - H EP[E]W FSYKLX MRXS XLI Q]XL
SJ XLI WXYTMH NEVLIEH XLI ORYGOPI HVEKKMRK PSGOIH NE[ XIWXSWXIVSRI HVMZIR
2IERHIVXLEP - RIZIV ORI[ XLEX FIGEYWI XLI 'SVTW EP[E]W LEW XS TVSGYVI MXW EWWIXW
XLVSYKL XLI REZ] ERH FIGEYWI EHQMVEPW EVI RIZIV KSMRK XS KIX XSS JMVIH YT EFSYX
PERH [EVJEVI XLEX MQTVSZMWEXMSR LEW LEH XS FI SRI SJ XLIMV QSWX XVIEWYVIH ZMVXYIW
1E\ &VSSOW
?7MRGPEMV TSMRXW EFSZI Q] LIEH XS XLI STTSWMXI [EPP 3R MX LERKW E LIEZ] WXIIP VSH IRHMRK
MR [LEX PSSOW PMOI E JYWMSR SJ WLSZIP ERH HSYFPI FPEHIH FEXXPI E\I -XW SJJMGMEP HIWMKREXMSR
MW XLI 7XERHEVH -RJERXV] )RXVIRGLQIRX 8SSP EPXLSYKL XS QSWX MX MW ORS[R EW IMXLIV XLI
0SFSXSQM^IV SV WMQTP] XLI 0SFS A
8LI PIEXLIVRIGOW GEQI YT [MXL XLEX SRI YWMRK RSXLMRK FYX XLI WXIIP SJ VIG]GPIH
GEVW ;I QEHI X[IRX] XLVII QMPPMSR HYVMRK XLI [EV
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FPEROIXW XLI LSYWI ERH WYVVSYRHMRK JEVQPERH ERH JVSWXW XLI XVIIW XLEX WLEHI XLI HMVX
XVEGO F] XLI VMZIV )ZIV]XLMRK EFSYX XLMW WGIRI MW TIEGIJYP I\GITX JSV XLI QER [MXL QI
,I MRWMWXW SR GEPPMRK LMQWIPJ XLI ;LEGOS FIGEYWI IZIV]SRI IPWI GEPPW QI XLEX [L]
WLSYPHR X ]SY# ,MW WXVMHI MW JEWX ERH TYVTSWIJYP XLI GERI KMZIR XS LMQ F] LMW HSGXSV PERH
[MJI WIVZIW SRP] XS WXEF EX XLI EMV A
8S FI LSRIWX - [EWR X WYVTVMWIH XS FI RSQMREXIH JSV ZMGI TVIWMHIRX )ZIR SRI
ORI[ E GSEPMXMSR TEVX] [EW MRIZMXEFPI - H FIIR E VMWMRK WXEV EX PIEWX YRXMP - WIPJ
HIWXVYGXIH 8LEX W [LEX XLI] WEMH EFSYX QI VMKLX %PP XLI GS[EVHW ERH L]TSGVMXIW
[LS H VEXLIV HMI XLER WII E VIEP QER I\TVIWW LMW TEWWMSR 7S [LEX MJ - [EWR X XLI
[SVPH W FIWX TSPMXMGMER# - WEMH [LEX - JIPX ERH - [EWR X EJVEMH XS WE] MX PSYH ERH
GPIEV 8LEX W SRI SJ XLI QEMR VIEWSRW [EW XLI PSKMGEP GLSMGI JSV GSTMPSX ;I QEHI E KVIEX XIEQ LI [EW XLI PMKLX - [EW
XLI LIEX (MJJIVIRX TEVXMIW HMJJIVIRX TIVWSREPMXMIW ERH PIX W RSX OMH SYVWIPZIW
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EPP WMKRW SJ LYQERMX] SV [LEX GSYPH LEZI FIIR LYQERMX] E PSRK XMQI EKS 8LIVI
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PSX SJ FSRIW SR XLI TEXGLIW SJ VEMWIH QYH
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YWIH XS FI LS[ XLI] GEQI XS FI LIVI LS[ XLI] GEQI XS FI XLMW - ORS[ [LS
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HS[R ERH IRH YT PIEZMRK WSQISRI IPWI XS [SRHIV [LEX LETTIRIH XS ]SY - XVMIH XS
TYX LIV MX SYX SJ Q] QMRH -RWXIEH - JSYRH Q]WIPJ [SRHIVMRK [L] MX LEH FIIR XLI
SRP] SRI - H WIIR
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VSYRH [IRX [MPH
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ERH WLI XSPH QI XS WXE] GSSP HSR X XV] XS VYR NYWX WXE] TYX ERH JSPPS[ [LEX - H
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Q] JSVX]
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JSYRH E HIGIRX IRSYKL TIVGL MR XLI FVERGLIW SJ E XEPP XVII 1] OMX LEH XLMW
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FVIEXLMRK I\IVGMWIW XLI] XEYKLX YW EX XLI 'VIIO SV XLEX - IZIR WPMTTIH X[S SJ Q]
&EF] 0W =SY VI SRP] WYTTSWIH XS XEOI SRI FYX - JMKYVIH XLEX [EW JSV PMKLX[IMKLX
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XLVSYKL MX LIVWIPJ# - [EW WXEVXMRK XS KIX Q] WYWTMGMSRW WXEVXMRK XS TMIGI XSKIXLIV E
VSYKL SYXPMRI SJ [LS WLI VIEPP] [EW
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E VYR JSV MX FI WTSXXIH F] E VIWGYI GLSTTIV ERH FI PMJXIH SJJ FIJSVI XLIWI WXMRO
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SYX JVSQ XLI TEMR - GEQI YT WTPYXXIVMRK GLSOMRK ERH XLI JMVWX
XLMRK - WE[ [EW XLI [LSPI W[EVQ GSQMRK EX QI 1IXW QYWX LEZI ORS[R WSQIXLMRK
[EW YT F] XLI JEGX XLEX - HMHR X VITSVX Q] WEJI PERHMRK 1E]FI WLI EWOIH QI [LEX
LEH LETTIRIH EPXLSYKL - HSR X VIQIQFIV - NYWX VIQIQFIV LIV ]IPPMRK EX QI XS KIX
YT ERH VYR - XVMIH TYXXMRK [IMKLX SR Q] EROPI FYX PMKLXRMRK WLSX YT XLVSYKL Q]
PIK ERH WTMRI -X GSYPH FIEV XLI [IMKLX FYX - WGVIEQIH WS PSYH - Q WYVI WLI
LIEVH QI XLVSYKL LIV GEFMR W [MRHS[ +IX SYX SJ XLIVI WLI [EW ]IPPMRK
+3 - WXEVXIH PMQTMRK WTPEWLMRK E[E] [MXL YT[EVHW SJ E LYRHVIH +W SR Q] EWW
-X QYWX LEZI FIIR GSQMGEP HMMW JVERXMG VEGI SJ GVMTTPIW
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3RP] RIMXLIV SJ YW LEH GSYRXIH SR Q] MRNYV] SV Q] YRHIEH XEMP 8LIVI [EW RS
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8LEX [EW XLI [SVWX TEVX F] JEV HMSWI JI[ QMRYXIW XV]MRK XS KIX YT SRXS XLI
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M HSV
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XLI 2SVXL LEH XLVIEXIRIH ZMSPIRGI XLI] EP[E]W VERK XLI WEQI FIPPW 2S WEXIPPMXI
HEXE SYVW SV XLI %QIVMGERW WLS[IH ER] LSWXMPI MRXIRX 8LIVI [IVI RS XVSST
QSZIQIRXW RS EMVGVEJX JYIPMRK RS WLMT SV WYFQEVMRI HITPS]QIRX -J ER]XLMRK SYV
JSVGIW EPSRK XLI (IQMPMXEVM^IH >SRI FIKER RSXMGMRK XLIMV STTSWMXI RYQFIVW
HMWETTIEVMRK ;I ORI[ XLIQ EPP XLI FSVHIV XVSSTW ;I H TLSXSKVETLIH IEGL SRI
SZIV XLI ]IEVW KMZIR XLIQ RMGOREQIW PMOI 7REOI )]IW SV &YPPHSK IZIR GSQTMPIH
HSWWMIVW SR XLIMV WYTTSWIH EKIW FEGOKVSYRHW ERH TIVWSREP PMZIW 2S[ XLI] [IVI
KSRI ZERMWLIH FILMRH
WLMIPHIH XVIRGLIW ERH HYKSYXW
3YV WIMWQMG MRHMGEXSVW [IVI WMQMPEVP] WMPIRX -J XLI 2SVXL LEH FIKYR XYRRIPMRK
STIVEXMSRW SV IZIR QEWWIH ZILMGPIW SR XLI SXLIV WMHI SJ > [I [SYPH LEZI LIEVH
MX PMOI XLI 2EXMSREP 3TIVE 'SQTER]
4ERQYRNSQ MW XLI SRP] EVIE EPSRK XLI (1> [LIVI STTSWMRK WMHIW GER QIIX JSV
JEGI XS JEGI RIKSXMEXMSRW ;I WLEVI NSMRX GYWXSH] SJ XLI GSRJIVIRGI VSSQW ERH SYV
XVSSTW TSWXYVI JSV IEGL SXLIV SZIV WIZIVEP QIXIVW SJ STIR GSYVX]EVH 8LI KYEVHW
[IVI GLERKIH SR E VSXEXMRK FEWMW 3RI RMKLX EW XLI 2SVXL /SVIER HIXEGLQIRX
QEVGLIH MRXS XLIMV FEVVEGOW RS VITPEGIQIRX YRMX QEVGLIH SYX 8LI HSSVW [IVI
WLYX 8LI PMKLXW [IVI I\XMRKYMWLIH %RH [I RIZIV WE[ XLIQ EKEMR
;I EPWS WE[ E GSQTPIXI LEPX XS LYQER MRXIPPMKIRGI MRJMPXVEXMSR 7TMIW JVSQ XLI
2SVXL [IVI EPQSWX EW VIKYPEV ERH TVIHMGXEFPI EW XLI WIEWSRW 1SWX SJ XLI XMQI XLI]
[IVI IEW] XS WTSX [IEVMRK SYX SJ HEXI GPSXLIW SV EWOMRK XLI TVMGI SJ KSSHW XLEX
XLI] WLSYPH LEZI EPVIEH] ORS[R ;I YWIH XS TMGO XLIQ YT EPP XLI XMQI FYX WMRGI
HMI SYXFVIEOW FIKER XLIMV RYQFIVW LEH H[MRHPIH XS ^IVS
;LEX EFSYX ]SYV WTMIW MR XLI 2SVXL#
:ERMWLIH EPP SJ XLIQ VMKLX EFSYX XLI WEQI XMQI EPP SYV IPIGXVSRMG WYVZIMPPERGI
EWWIXW [IRX HEVO - HSR X QIER XLIVI [EW RS HMWXYVFMRK VEHMS XVEJJMG - QIER XLIVI
[EW RS XVEJJMG EX EPP 3RI F] SRI EPP XLI GMZMPMER ERH QMPMXEV] GLERRIPW FIKER
WLYXXMRK HS[R 7EXIPPMXI MQEKIW WLS[IH JI[IV JEVQIVW MR XLIMV JMIPHW PIWW JSSX
XVEJJMG MR GMX] WXVIIXW IZIR JI[IV ZSPYRXIIV PEFSVIVW
SR QER] TYFPMG [SVOW TVSNIGXW [LMGL MW WSQIXLMRK XLEX LEW RIZIV LETTIRIH
FIJSVI &IJSVI [I ORI[ MX XLIVI [EWR X E PMZMRK WSYP PIJX JVSQ XLI =EPY XS XLI
(1> *VSQ E TYVIP] MRXIPPMKIRGI WXERHTSMRX MX ETTIEVIH EW MJ XLI IRXMVI GSYRXV]
IZIV] QER [SQER ERH GLMPH MR 2SVXL /SVIE LEH WMQTP] ZERMWLIH
8LMW Q]WXIV] SRP] WXSOIH SYV KVS[MRK ER\MIX] KMZIR [LEX [I LEH XS HIEP [MXL EX
LSQI &] RS[ XLIVI [IVI SYXFVIEOW MR 7ISYP 4 SLERK 8EI NSR 8LIVI [EW XLI
IZEGYEXMSR SJ 1SOTS XLI MWSPEXMSR SJ /ERKRYRK ERH SJ GSYVWI SYV ZIVWMSR SJ
=SROIVW EX -RGLSR ERH EPP SJ MX GSQTSYRHIH F] XLI RIIH XS OIIT EX PIEWX LEPJ SYV
EGXMZI HMZMWMSRW EPSRK SYV RSVXLIVR FSV HIV 8SS QER] MR XLI 1MRMWXV] SJ 2EXMSREP
(IJIRWI [IVI GSRZMRGIH XLEX XLI 4]SRK]ERK [EW NYWX EGLMRK JSV [EV [EMXMRK
IEKIVP] JSV SYV HEVOIWX QSQIRX XS GSQI XLYRHIVMRK EGVSWW XLI XL 4EVEPPIP ;I MR
XLI MRXIPPMKIRGI GSQQYRMX] GSYPHR X HMWEKVII QSVI ;I OITX XIPPMRK XLIQ XLEX MJ
XLI] [IVI [EMXMRK JSV SYV HEVOIWX LSYV XLIR XLEX LSYV LEH QSWX GIVXEMRP] EVVMZIH
8EI ,ER 1MR KYO [EW SR XLI FVMRO SJ REXMSREP GSPPETWI 4PERW [IVI FIMRK WIGVIXP]
HVEJXIH JSV E .ETERIWI WX]PI VIWIXXPIQIRX 'SZIVX XIEQW [IVI EPVIEH] WGSYXMRK
PSGEXMSRW MR /EQGLEXOE -J XLI 'LERK (SGXVMRI LEHR X [SVOIH
MJ NYWX E JI[
QSVI YRMXW LEH FVSOIR MJ E JI[ QSVI WEJI ^SRIW LEH GSPPETWIH
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RIZIV VIEPP] WE[ XLI 2SVXL EW E XLVIEX - Q WTIEOMRK SJ XLI GMZMPMERW ]SY
YRHIVWXERH XLSWI S_ Q] EKI [LS WE[ XLIQ EW E FEGO[EVH WXEVZMRK JEMPIH REXMSR
1] KIRIVEXMSR LEH KVS[R YT XLIMV IRXMVI PMZIW MR TIEGI ERH TVSWTIVMX] 8LI SRP]
XLMRK XLI] JIEVIH [EW E +IVQER WX]PI VIYRMJMGEXMSR XLEX [SYPH FVMRK QMPPMSRW SJ
LSQIPIWW I\ GSQQYRMWXW PSSOMRK JSV E LERHSYX
8LEX [EWR X XLI GEWI [MXL XLSWI [LS GEQI FIJSVI YW SYV TEVIRXW ERH
KVERHTEVIRXW
XLSWI [LS PMZIH [MXL XLI ZIV] VIEP WTIGXIV SJ MRZEWMSR LERKMRK
SZIV XLIQ XLI ORS[PIHKI XLEX EX ER] QSQIRX XLI EPEVQW QMKLX WSYRH XLI PMKLXW
QMKLX HMQ ERH XLI FEROIVW WGLSSPXIEGLIVW ERH XE\M HVMZIVW QMKLX FI GEPPIH XS
TMGO YT EVQW ERH JMKLX XS HIJIRH XLIMV LSQIPERH 8LIMV LIEVXW ERH QMRHW [IVI IZIV
ZMKMPERX ERH MR XLI IRH MX [EW XLIQ RSX YW [LS VEPPMIH XLI REXMSREP WTMVMX
- Q WXMPP TYWLMRK JSV ER I\TIHMXMSR XS XLI 2SVXL - Q WXMPP FPSGOIH EX
;SVPH ;EV >
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WLEQFPIW ;I EPWS LEZI SYV MRXIVREXMSREP GSQQMXQIRXW QSWX MQTSVXERXP] XLI
VITEXVMEXMSR SJ SYV VIJYKIIW XS /]YWLY
7RSVXW P 8LSWI .ETW EVI KSRRE S[I YW
FMK XMQI
- Q RSX EWOMRK JSV E VIGSR MR JSVGI .YWX KMZI QI SRI LIPMGSTXIV SRI JMWLMRK FSEX
NYWX STIR XLI KEXIW EX 4ERQYRNSQ ERH PIX QI [EPO XLVSYKL SR JSSX ;LEX MJ ]SY
XVMKKIV WSQI FSSF] XVET# XLI] GSYRXIV ;LEX MJ MX W RYGPIEV# ;LEX MJ ]SY STIR XLI
HSSV XS WSQI YRHIVKVSYRH GMX] ERH X[IRX] XLVII QMPPMSR ^SQFMIW GSQI WTI[MRK
SYX# 8LIMV EVKYQIRXW EVIR X [MXLSYX QIVMX ;I ORS[ XLI (1> MW LIEZMP] QMRIH
0EWX QSRXL E GEVKS TPERI
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EYXSQEXIH QSHIP XLI X]TI XLI] H HIWMKRIH EW E VIZIRKI [IETSR MR GEWI XLI
TSTYPEXMSR LEH EPVIEH] FIIR SFPMXIVEXIH
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GSQTPI\IW -J XLEX MW XVYI XLIR SYV IWXMQEXIW SJ XLI WM^I ERH HITXL SJ XLSWI
GSQTPI\IW [IVI KVSWWP] MREGGYVEXI 1E]FI XLI IRXMVI TSTYPEXMSR MW YRHIVKVSYRH
XSSPMRK E[E] SR IRHPIWW [EV TVSNIGXW [LMPI XLIMV +VIEX 0IEHIV GSRXMRYIW XS
ERIWXLIXM^I LMQWIPJ [MXL ;IWXIVR PMUYSV ERH %QIVMGER TSVRSKVETL] (S XLI] IZIR
ORS[ XLI [EV MW SZIV ,EZI XLIMV PIEHIVW PMIH XS XLIQ EKEMR ERH XSPH XLIQ XLEX
XLI [SVPH EW XLI] ORS[ MX LEW GIEWIH XS FI# 1E]FI XLI VMWI SJ XLI HIEH [EW E
KSSH XLMRK MR XLIMV I]IW ER I\GYWI XS XMKLXIR XLI ]SOI IZIR JYVXLIV MR E WSGMIX]
FYMPX SR FPMRH WYFNYKEXMSR 8LI +VIEX 0IEHIV EP[E]W [ERXIH XS FI E PMZMRK +SH
ERH RS[ EW QEWXIV RSX SRP] SJ XLI JSSH LMW TISTPI IEX XLI EMV XLI] FVIEXLI FYX XLI
ZIV] PMKLX SJ XLIMV EVXMJMGMEP WYRW QE]FI LMW X[MWXIH JERXEW] LEW JMREPP] FIGSQI E
VIEPMX] 1E]FI XLEX [EW XLI SVMKMREP TPER FYX WSQIHMMRK [IRX HMWEWXVSYWP] [VSRK
0SSO [LEX LETTIRIH XS XLI QSPI GMX] YRHIVRIEXL 4EVMW ;LEX MJ XLEX SGGYVVIH MR
XLI 2SVXL SR E REXMSREP PIZIP 1E]FI XLSWI GEZIVRW EVI XIIQMRK [MXL X[IRX] XLVII
QMPPMSR ^SQFMIW IQEGMEXIH EYXSQEXSRW LS[PMRK MR XLI HEVORIWW ERH NYWX [EMXMRK
XS FI YRPIEWLIH
/]SXS .ETER
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ERH FPIEGLIH FPSRH LMKLPMKLXW WXVIEOMRK LMW YROIQTX LEMV 8LI QER - EQ WTIEOMRK XS LEW
RS LEMV EX EPP 'PIER WLEZIR XERRIH ERH XSRIH LMW GPIEV WLEVT KE^I RIZIV PIEZIW QMRI
%PXLSYKL LMW QERRIV MW GSVHMEP ERH LMW QSSH PMKLX XLMW [EVVMSV QSRO VIXEMRW XLI
GSQTSWYVI SJ E TVIHEXSV] ERMQEP EX VIWX P
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KVIEX QER] TISTPI FYX JSV QI MX WMQTP] QIERX SYXWMHIV - ORS[ %QIVMGERW
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,S[IZIV MJ - YRHIVWXERH ]SYV GYPXYVI GSVVIGXP] MRHMZMHYEPMWQ MW WSQIXLMRK XS FI
IRGSYVEKIH =SY VIZIVI XLI VIFIP XLI VSKYI XLSWI [LS WXERH TVSYHP] ETEVX
JVSQ XLI QEWWIW *SV ]SY MRHMZMHYEPMX] MW E FEHKI SJ LSRSV *SV YW MX MW E VMFFSR
SJ WLEQI ;I PMZIH TEVXMGYPEVP] FIJSVI XLI [EV MR E GSQTPI\ ERH WIIQMRKP]
MRJMRMXI PEF]VMRXL SJ I\XIVREP NYHKQIRXW =SYV ETTIEVERGI ]SYV WTIIGL IZIV]XLMRK
JVSQ XLI GE VIIV ]SY LIPH XS XLI [E] ]SY WRII^IH LEH XS FI TPERRIH ERH
SVGLIWXVEXIH XS JSPPS[ VMKMH 'SRJYGMER HSGXVMRI 7SQI IMXLIV LEZI XLI WXVIRKXL SV
PEGO XLIVISJ XS EGGITX XLMW HSGXVMRI 3XLIVW PMOI Q]WIPJ GLSWI I\MPI MR E FIXXIV
[SVPH 8LEX [SVPH [EW G]FIV WTEGI ERH MX [EW XEMPSV QEHI JSV .ETERIWI SXEOY
- GER X WTIEO JSV ]SYV IHYGEXMSREP W]WXIQ SV MRHIIH JSV XLEX SJ ER]
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PMZIW 8LIWI JEGXW LEH RS QSVEP GSQTSRIRX RS WSGMEP GSRXI\X RS LYQER
GSRRIGXMSR XS XLI SYXWMHI [SVPH 8LI] LEH RS VIEWSR
;SVPH ;EV >
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PMOI KSHW - [EW E WIRWIM QEWXIV SZIV EPP - WYVZI]IH FI MX HMWGSZIVMRK XLI FPSSH
X]TI SJ XLI TVMQI QMRMWXIVW GEFMRIX SV XLI XE\ VIGIMTXW SJ 1EXWYQSXS ERH ,EQEHE
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LEZI XS [SVV] EFSYX Q] ETTIEVERGI SV Q] WSGMEP IXMUYIXXI Q] KVEHIW SV Q]
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WXYHMIH HMIMV TL]WMSPSK] FILEZMSV [IEORIWWIW ERH XLI KPSFEP VI WTSRWI XS XLIMV
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GSRXEMRQIRX [MXLMR XLI .ETERIWI LSQI MWPERHW - GSPPIGXIH TSTYPEXMSR WXEXMWXMGW
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2S JEGX [EW XSS WQEPP SV SFWGYVI ;I [IVI SR E QMWWMSR [I FEVIP] WPITX ;LIR
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QYGL EPWS E HIQMPMXEVM^IH WXEXI &IGEYWI SJ %QIVMGER TVSXIGXMSR SYV WIPJ
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[MRH QYWX LEZI FPS[R MX SJX [LIR - IRXIVIH - HMHR X XIIP VMKLX NYWX PIEZMRK MX XLIVI
- LSFFPIH EGVSWW XLI VSSQ ERH WXSSTIH XS TMGO MX YT 1ER] /EQM (ERE LEZI E
WQEPP QMVVSV MR XLI GIRXIV 1] I]I GEYKLX E VIJPIGXMSR MR XLEX QMVVSV SJ WSQIXLMRK
WLEQFPMRK SYX SJ XLI FIHVSSQ
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FERHEKI SR LMW JEGI XIPPMRK QI XLEX LI QYWX LEZI VIERMQEXIH RSX XSS PSRK EKS ,I
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LEMV - X[MWXIH XV]MRK XS JVII Q]WIPJ ,I TYPPIH Q] JEGI XS[EVH LMW ,I [EW
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LMW SRI KSSH EVQ - NEQQIH MX MRXS LMW FEGO GPEQTIH Q] SXLIV LERH EVSYRH XLI
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SR XLI TEZIQIRX LMW LIEH WXMPP LMWWMRK YT EX QI JVSQ LMW SXLIV[MWI FVSOIR FSH]
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WGYJJPI - [EW STIVEXMRK SR JYPP MRWXMRGX RS[ - VEGIH MRXS XLI SPH
QER W FIHVSSQ ERH FIKER VMTTMRK XLI WLIIXW SJJ LMW FIH - JMKYVIH MX [SYPHR X XEOI
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SR XLI FEVI [EPP MR LMW FIHVSSQ -X [EW FPEGO ERH [LMXI KVEMR] ERH WLS[IH E
XVEHMXMSREP JEQMP] 8LIVI [EW E QSXLIV JEXLIV E PMXXPI FS] ERH [LEX - KYIWWIH LEH
XS FI XLI SPH QER EW E XIIREKIV MR YRMJSVQ 7SQIXLMRK [EW MR LMW LERH WSQIXLMRK
XLEX EPQSWX WXSTTIH Q] LIEVX - FS[IH XS XLI QER MR XLI TLSXSKVETL ERH WEMH ER
EPQSWX XIEVJYP %VMKEXS
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XLI SVMKMREP WLEVOWOMR FYX XLI WXIIP
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WXEQTIH E WLEPPS[ XSVX GYVZEXYVI [MXL E PSRK WXVEMKLX TSMRX *PEX [MHI VMHKI
PMRIW HIGSVEXIH [MXL XLI OMOY WYM XLI -QTIVMEP GLV]WERXLIQYQ ERH ER EYXLIRXMG
RSX EGMH WXEMRIH VMZIV FSVHIVMRK XLI XIQTIVIH IHKI )\UYMWMXI [SVOQERWLMT ERH
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?- QSXMSRIH XS XLI W[SVH EX LMW WMHI 8EXWYQM WQMPIW A
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8EXIRSOEM SV 7LMIPH 7SGMIX] KVIIXW QI [MXL FSXL E FS[ ERH LERHWLEOI XLIR
MRZMXIW QI
;SVPH ;EV >
XS WMX FIJSVI LMQ PMOI E WXYHIRX /SRHS 8EXWYQM 8SQSREKE W WIGSRH MR GSQQERH
WIVZIW YW XIE XLIR WMXW FIWMHI XLI SPH QEWXIV
8SQSREKE FIKMRW SYV MRXIVZMI[ [MXL ER ETSPSK] PSV ER] HMWGSQJSVX - QMKLX JIIP EFSYX LMW
ETTIEVERGI 8LI WIRWIM W PMJIPIWW I]IW LEZI RSX JYRGXMSRIH WMRGI LMW EHSPIWGIRGI A
- EQ LMFEOYWLE - PSWX Q] WMKLX EX
% 1 %YKYWX
F] ]SYV GEPIRHEV
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WIZIVEP SXLIV FS]W JVSQ Q] GPEWW -X [EW SZIVGEWX XLEX HE] WS - LIEVH VEXLIV XLER
WE[ XLI &
TEWWMRK GPSWI SZIVLIEH -X [EW SRP] E WMRKPI & 7ER TVSFEFP] E
VIGSRREMWWERGI JPMKLX ERH RSX IZIR [SVXL VITSVX 0RK - EPQSWX PEYKLIH [LIR Q]
GPEWWQEXIW NYQTIH MRXS SYV WPMX XVIRGL -
OITX Q] I]IW JM\IH EFSZI XLI 9VEOEQM :EPPI] LSTMRK XS QE]FI GEXGL E KPMQTWI SJ
XLI %QIVMGER FSQFIV -RWXIEH EPP - WE[ [EW HMI JPEWL XLI PEWX XLMRK - [SYPH IZIV
WII
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REXMSR W WSGMEP PEHHIV ;I [IVI XVIEXIH [MXL W]QTEXL] ERH WSVVS[ ZMG 8MQW ERH
LIVSIW ERH W]QFSPW JSV IZIV] TSPMXMGEP EKIRHE %RH ]IX EW LYQER FIMRKW [I [IVI
PMXXPI QSVI XLER WSGMEP SYXGEWXW 2S JEQMP] [SYPH EPPS[ XLIMV GLMPH XS QEVV] YW
,MFEOYWLE [IVI YRGPIER FPSSH MR .ETERW SXLIV[MWI TVMWXMRI KIRIXMG SRWIR - JIPX
HMMW WLEQI SR E HIITP] TIVWSREP PIZIP 2SX SRP] [EW - LMFEOYWLE FYX Q] FPMRHRIWW
EPWS QEHI QI E FYVHIR
3YX XLI WEREXSVMYQ W [MRHS[W - GSYPH LIEV XLI WSYRHW SJ SYV REXMSR WXVYKKPMRK XS
VIFYMPH MXWIPJ %RH [LEX [EW Q] GSRXVMFYXMSR XS XLMW IJJSVX RSXLMRK
7S QER] XMQIW - XVMIH MRUYMVMRK EFSYX WSQI QERRIV SJ IQTPS]QIRX WSQI [SVO RS
QEXXIV LS[ WQEPP SV HIQIERMRK 2S SRI [SYPH LEZI QI - [EW WXMPP LMFEOYWLE ERH
- PIEVRIH WS QER] TSPMXI [E]W XS FI VINIGXIH 1] FVSXLIV FIKKIH QI XS GSQI ERH
WXE] [MXL LMQ MRWMWXMRK XLEX LI ERH LMW [MJI [SYPH XEOI GEVI SJ QI ERH IZIR JMRH
WSQI YWIJYP XEWO EVSYRH XLI LSYWI *SV QI XLEX [EW IZIR [SVWI XLER XLI
WEREXSVMYQ ,I LEH NYWX KSXXIR FEGO JVSQ XLI EVQ] ERH XLI] [IVI XV]MRK XS LEZI
ERSXLIV FEF] 8S
3RWIR % REXYVEP LSX WTVMRK SJXIR YWIH EW E GSQQYREP FEXL
MQTSWI SR XLIQ EX WYGL E XMQI [EW YRXLMROEFPI 3J GSYVWI - GSRWMHIVIH IRHMRK
Q] S[R PMJI - IZIR EXXIQTXIH MX SR QER] SGGEWMSRW 7SQIXLMRK TVIZIRXIH QI
WXE]MRK Q] LERH IEGL XMQI - KVSTIH JSV XLI TMPPW SV FVSOIR KPEWW - VIEWSRIH MX [EW
[IEORIWW [LEX IPWI GSYPH MX FI# % LMFEOYWLE E TEV EWMXI ERH RS[ E HMWLSRSVEFPI
GS[EVH 8LIVI [EW RS IRH XS Q] WLEQI MR XLSWI HE]W %W XLI IQTIVSV LEH WEMH MR
LMW WYVVIRHIV WTIIGL XS SYV TISTPI - [EW XVYP] IRHYVMRK XLI YRIRHYVEFPI
- PIJX XLI WEREXSVMYQ [MXLSYX MRJSVQMRK Q] FVSXLIV - HMHR X ORS[ [LIVI - [EW
LIEHMRK SRP] XLEX - LEH XS KIX EW JEV JVSQ Q] PMJI Q] QIQSVMIW Q]WIPJ EW
TSWWMFPI - XVEZIPIH FIKKIH QSWXP] - LEH RS QSVI LSRSV XS PSWI
YRXMP WIXXPIH MR 7ETTSVS SR XLI MWPERH SJ ,SOOEMHS 8LMW GSPH RSVXLIVR [MPHIVRIWW LEW
EP[E]W FIIR .ETER W PIEWX TSTYPEXIH TVIJIGXYVI ERH [MXL XLI PSWW SJ 7EOLEPMR ERH
XLI /YVMPIW MX FIGEQI EW XLI ;IWXIVR WE]MRK KSIW XLI IRH SJ XLI PMRI
-R 7ETTSVS - QIX ER %MRY KEVHIRIV 3XE ,MHIOM 8LI %MRY EVI .ETER W SPHIWX
MRHMKIRSYW KVSYT ERH IZIR PS[IV SR SYV WSGMEP PEHHIV XLER XLI /SVIERW
1E]FI XLEX MW [L] LI XSSO TMX] SR QI ERSXLIV TEVMEL GEWX SYX F] XLI XVMFI SJ
=EQEXS 1E]FI MX [EW FIGEYWI LI LEH RS SRI XS TEWW LMW WOMPPW EPSRK XS ,MW S[R
WSR LEH RIZIV VIXYVRIH JVSQ 1ERGLYVME 3XE WER [SVOIH EX XLI %OEOE^I E JSVQIV
PY\YV] LSXIP XLEX RS[ WIVZIH EW E VITEXVM EXMSR GIRXIV JSV .ETERIWI WIXXPIVW JVSQ
'LMRE %X JMVWX XLI EHQMRMWXVEXMSR GSQTPEMRIH XLEX XLI] LEH RS QSVI JYRHW XS LMVI
ERSXLIV KEVHIRIV 3XE WER TEMH QI SYX SJ LMW S[R TSGOIX ,I [EW Q] XIEGLIV ERH
SRP] JVMIRH ERH [LIR LI HMIH - GSRWMHIVIH JSPPS[MRK LMQ &YX GS[EVH XLEX - [EW
GSYPH RSX FVMRK Q]WIPJ XS HS MX -RWXIEH WMQTP] GSRXMRYIH XS I\MWX
[SVOMRK WMPIRXP] MR XLI IEVXL EW XLI %OEOE^I [IRX JVSQ E VITEXVMEXMSR GIRXIV XS E
PY\YV] LSXIP ERH .ETER [IRX JVSQ GSRUYIVIH VYFFPI XS IGSRSQMG WYTIVTS[IV
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WIZIVEP SJ HMI KYIWXW HMWGYWWMRK XLI 2EKYQS QYVHIVW %GGSVHMRK XS XLIMV
GSRZIVWEXMSR E QER LEH WPEMR LMW [MJI XLIR WIX YTSR XLI GSVTWI PMOI WSQI OMRH SJ
[MPH HSK 8LMW [EW XLI JMVWX XMQI - LEH LIEVH
;SVPH ;EV >
XLI XIVQ %JVMGER VEFMIW - XVMIH XS MKRSVI MX ERH KIX SR [MXL Q] [SVO FYX XLI RI\X
HE] XLIVI [IVI QSVI GSRZIVWEXMSRW QSVI LYWLIH ZSMGIW EGVSWW XLI PE[R ERH
FIWMHI XLI TSSP 2EKYQS [EW SPH RI[W GSQTEVIH XS XLI QYGL QSVI WIVMSYW
SYXFVIEO EX 7YQMXSQS ,SWTMXEP MR 3WEOE %RH XLI RI\X HE] XLIVI [EW 2EKS]E
XLIR 7IRHEM XLIR /]SXS - XVMIH XS TYWL XLIMV GSRZIVWEXMSRW JVSQ Q] QMRH - LEH
GSQI XS ,SOOEMHS XS IWGETI JVSQ XLI [SVPH XS PMZI SYX Q] HE]W MR WLEQI ERH
MKRSQMR]
8LI ZSMGI XLEX JMREPP] GSRZMRGIH QI SJ HERKIV GEQI JVSQ XLI LSXIP W QEREKIV E
WXMJJ RS RSRWIRWI WEPEV]QER [MXL E ZIV] JSVQEP QERRIV SJ WTIIGL %JXIV XLI
SYXFVIEO MR ,MVSWEOM LI LIPH E WXEJJ QIIXMRK XS XV] XS
HIFYRO SRGI ERH JSV EPP XLIWI [MPH VYQSVW EFSYX HIEH FSHMIW GSQMRK FEGO XS PMJI
- LEH SRP] LMW ZSMGI XS VIP] SR ERH ]SY GER XIPP IZIV]XLMRK EFSYX E TIVWSR F] [LEX
LETTIRW [LIR LI STIRW LMW QSYXL 1MWXIV 7YKE[EVE [EW TVSRSYRGMRK LMW [SVHW
JEV XSS GEVIJYPP] TEVXMGYPEVP] LMW LEVH WLEVT GSRWSRERXW ,I [EW
SZIVGSQTIRWEXMRK JSV E TVIZMSYWP] GSRUYIVIH WTIIGL MQTIHMQIRX E GSRHMXMSR XLEX
SRP] XLVIEXIRIH XS VMWI MR XLI TVIWIRGI SJ KVIEX ER\MIX] - LEH PMWXIRIH XS XLMW ZIVFEP
HIJIRWI QIGLERMWQ FIJSVI JVSQ XLI WIIQMRKP] YRJPETTEFPI 7YKE[EVE WER JMVWX
HYVMRK XLI
UYEOI ERH EKEMR MR
[LIR 2SVXL /SVIE LEH WIRX E PSRK VERKI
RYGPIEV GETEFPI XIWX QMWWMPI WXVIEOMRK SZIV SYV LSQIPERH 7YKE[EVE WER W
EVXMGYPEXMSR LEH FIIR EPQSWX MQTIVGITXMFPI XLIR RS[ MX WLVMIOIH PSYHIV XLER XLI
EMV VEMH WMVIRW SJ Q] ]SYHM
%RH WS JSV XLI WIGSRH XMQI MR Q] PMJI - JPIH - GSRWMHIVIH [EVRMRK Q] FVSXLIV FYX
WS QYGL XMQI LEH TEWWIH - LEH RS MHIE LS[ XS VIEGL LMQ SV IZIR MX LI [EW WXMPP
EPMZI 8LEX [EW XLI PEWX ERH TVSFEFP] XLI KVIEXIWX SJ EPP Q] HMWLSRSVEFPI EGXW XLI
LIEZMIWX [IMKLX - [MPP IEVR XS Q] KVEZI
;L] HMH ]SY VYR# ;IVI ]SY EJVEMH JSV ]SYV PMJI#
3J GSYVWI RSX -J ER]XLMRK - [IPGSQIH MX 8S HMI XS JMREPP] FI TYX SYX SJ Q]
PMJIPSRK QMWIV] [EW EPQSWX XSS KSSH XS FI XVYI
;LEX - JIEVIH [EW SRGI EKEMR
FIGSQMRK E FYVHIR XS XLSWI EVSYRH QI 8S WPS[ WSQISRI HS[R XS XEOI YT
ZEPYEFPI WTEGI XS TYX SXLIV PMZIW MR HERKIV MJ XLI] XVMIH XS WEZI ER SPH FPMRH QER
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ERH [LEX MJ XLSWI VYQSVW EFSYX
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E[EOI JVSQ HIEXL XS XLVIEXIR XLI PMZIW SJ Q] JIPPS[ GSYRXV]QIR# 2S XLEX [EW RSX
KSMRK XS FI XLI JEXI SJ XLMW HMWKVEGIH LMFEOYWLE -J - [EW XS QIIX Q] HIEXL MX
WLSYPH FI MR XLI WEQI QERRIV EW - LEH PMZIH Q] PMJI *SVKSXXIR MWSPEXIH ERH EPSRI
- PIJX EX RMKLX ERH FIKER LMXGLLMOMRK WSYXL HS[R ,SOOEMHS W (33 )\TVIWW[E]
%PP - LEH [MXL QI [EW E [EXIV FSXXPI E GLERKI SJ GPSXLIW ER . Q] MOYTEWY] E
PSRK JPEX WLSZIP WMQMPEV XS E 7LESPMR WTEHI FYX [LMGL EPWS WIVZIH JSV QER] ]IEVW
EW Q] [EPOMRK WXMGO 8LIVI [EW WXMPP E WM^EFPI EQSYRX SJ VSEH XVEJJMG MR XLSWI HE]W
SYV SMP JVSQ -RHSRIWME ERH XLI +YPJ [EW WXMPP JPS[MRK ERH QER] XVYGO HVMZIVW ERH
TVMZEXI QSXSVMWXW [IVI OMRH IRSYKL XS KMZI QI E VMHI ;MXL IEGL ERH IZIV] SRI
SYV GSRZIVWEXMSR XYVRIH XS XLI GVMWMW (MH ]SY LIEV XLEX XLI 7IPJ (IJIRWI *SVGI LEW
FIIR QSFMPM^IH# 8LI KSZIVRQIRX W KSMRK XS LEZI XS HIGPEVI E WXEXI SJ
IQIVKIRG] (MH ]SY LIEV XLIVI [EW ER SYXFVIEO PEWX RMKLX VMKLX LIVI MR
7ETTSVS 2S SRI [EW WYVI [LEX XLI RI\X HE] [SYPH FVMRK LS[ JEV XLI GEPEQMX]
[SYPH WTVIEH SV [LS [SYPH FI MXW RI\X ZMGXMQ ERH ]IX RS QEXXIV [LSQ - WTSOI XS
SV LS[ XIVVMJMIH XLI] WSYRHIH IEGL GSRZIVWEXMSR [SYPH MRIZMXEFP] IRH [MXL &YX
- Q WYVI XLI EYXLSVMXMIW [MPP XIPP YW [LEX XS HS 3RI XVYGO HVMZIV WEMH %R] HE]
RS[ ]SY PP WII MJ ]SY NYWX [EMX TEXMIRXP] ERH HSR X QEOI E TYFPMG JYWW 8LEX [EW
XLI PEWX LYQER ZSMGI - LIEVH XLI HE] FIJSVI - PIJX GMZMPM^EXMSR ERH XVIOOIH MRXS XLI
,MHHEOE 1SYRXEMRW
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XS GSPPIGX WERWEM XLI [MPH ZIKIXEFPIW XLEX EXXVEGX FSXERMWXW LMOIVW ERH KSYVQIX
GLIJW JVSQ EPP SZIV XLI LSQI MWPERHW %W E QER [LS
SJXIR VMWIW MR XLI QMHHPI SJ XLI RMKLX ORS[W HMI I\EGX PSGEXMSR SJ IZIV] MXIQ MR LMW
HEVOIRIH FIHVSSQ - ORI[ IZIV] VMZIV ERH IZIV] VSGO IZIV]
-OYTEWY] 8LI XIGLRMGEP XIVQ JSV E WQEPP %MRY TVE]IV WXMGO ;LIR PEXIV UYIWXMSRIH
EFSYX XLMW HMWGVITERG] 1MWXIV 8SQSREKE ERW[IVIH XLEX XLI REQI [EW KMZIR XS LMQ F]
LMW XIEGLIV 1MWXIV 3XE ;LIXLIV 3XE MRXIRHIH XS FIWXS[ WSQI WTMVMXYEP GSRRIGXMSR XS XLMW
KEVHIRMRK MQTPIQIRX SV [EW WMQTP] WS SYX SJ XSYGL [MXL LMW S[R GYPXYVI EW QER] %MRY
SJ LMW KIRIVEXMSR [IVI [I [MPP RIZIV ORS[
;SVPH ;EV >
XVII ERH TEXGL SJ QSWW - IZIR ORI[ IZIV] SRWIR XLEX FYFFPIH XS XLI WYVJEGI ERH
XLIVIJSVI RIZIV [ERXIH JSV E REXYVEPP] LSX ERH GPIERWMRK QMRIVEP FEXL )ZIV] HE] - XSPH
Q]WIPJ 8LMW MW HMI TIVJIGX TPEGI XS HMI WSSR - [MPP LEZI ER EGGMHIRX E JEPP SJ WSQI OMRH
SV TIVLETW - [MPP FIGSQI MPP GSRXVEGX WSQI WMGORIWW SV IEX E TSMWSRIH VSSX SV QE]FI [MPP JMREPP] HS XLI LSRSVEFPI XLMRK ERH NYWX WXST IEXMRK EPXSKIXLIV %RH ]IX IZIV] HE] JSV EKIH ERH FEXLIH HVIWWIH [EVQP] ERH QMRHIH Q] WXITW %W QYGL EW - PSRKIH JSV
HIEXL - GSRXMRYIH XS XEOI [LEXIZIV QIEWYVIW RIGIWWEV] XS TVI ZIRX MX
- LEH RS [E] SJ ORS[MRK [LEX [EW LETTIRMRK XS XLI VIWX SJ Q] GSYRXV] - GSYPH
LIEV HMWXERX WSYRHW LIPMGSTXIVW JMKLXIV TPERIW XLI WXIEH] LMKL EPXMXYHI [LMRI SJ
GMZMPMER NIXPMRIVW 4IVLETW - [EW [VSRK - XLSYKLX TIVLETW XLI GVMWMW [EW SZIV *SV
EPP - ORI[ XLI EYXLSVMXMIW LEH FIIR ZMGXSVMSYW ERH XLI HERKIV [EW VETMHP] JEHMRK
MRXS QIQSV] 4IVLETW Q] EPEVQMWX HITEV XYVI LEH HSRI RSXLMRK QSVI XLER GVIEXI E
[IPGSQI NSF STIRMRK FEGO EX XLI %OEOE^I ERH TIVLETW SRI QSVRMRK - [SYPH FI
VSYWIH F] XLI FEVOMRK ZSMGIW SJ ERKV] TEVO VERKIVW SV HMI KMKKPIW ERH [LMWTIVW SJ
WGLSSPGLMPHVIR SR E REXYVI LMOI 7SQIXLMRK HMH EVSYWI QI JVSQ Q] WPIIT SRI
QSVRMRK FYX RSX E GSPPIGXMSR SJ KMKKPMRK WXYHIRXW ERH RS MX [EWR X SRI SJ XLIQ
IMXLIV
-X [EW E FIEV SRI SJ XLI QER] PEVKI FVS[R LMKYQE VSEQMRK XLI ,SOOEMHS
[MPHIVRIWW 8LI LMKYQE LEH SVMKMREPP] QMKVEXIH JVSQ XLI /EQGLEXOE 4IRMRWYPE
ERH FSVI XLI WEQI JIVSGMX] ERH VE[ TS[IV SJ XLIMV 7MFIVMER GSYWMRW 8LMW SRI [EW
IRSVQSYW - GSYPH XIPP F] XLI TMXGL ERH VIWSRERGI SJ LMW FVIEXLMRK - NYHKIH LMQ XS
FI RS QSVI XLER JSYV SV JMZI QIXIVW JVSQ QI - VSWI WPS[P] ERH [MXLSYX JIEV 2I\X
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VIEPM^IH MX [EW QSVI GSWX IJJIGXMZI XS LEZI E VIJYIPMRK WXEXMSR EPVIEH] MR SVFMX VEXLIV
XLER
8LI -77 GIEWIH YWMRK IPIGXVSP]WMW XS KIRIVEXI S\]KIR EW E [E] SJ GSRWIVZMRK [EXIV
4VI[EV WTIGW TYX XLI -77 [EXIV VIG]GPMRK GETEFMPMX] EX
TIVGIRX
%8: %YXSQEXIH 8VERWJIV :ILMGPI
% WIGSRHEV] XEWO SJ XLI HMWTSWEFPI %8: [EW XS YWI MXW FSSWXIV XS QEMRXEMR XLI
WXEXMSR W SVFMX
%7863 %YXSRSQSYW 7TEGI 8VERWJIV ERH 6SFSXMG 3VFMXIV
WIRHMRK YT E PSX SV QERRIH QMWWMSRW 8LEX W [LIVI %7863 GEQI MR ;I QSHMJMIH
MX XS VIJYIP WSQI SJ XLI SHMIV WEXIPPMXIW EW [IPP XLI GMZMPMER QSHIPW XLEX RIIH NYWX
XLI SGGEWMSREP XST SJJ XS FSSWX FEGO YT JVSQ E HIGE]MRK SVFMX -X [EW E QEVZIPSYW
QEGLMRI E VIEP XMQI WEZIV ;I LEH E PSX SJ XIGL RSPSK] PMOI XLEX 8LIVI [EW XLI
'EREHEVQ XLI JMJX] JSSX VSFSXMG MRGL [SVQ XLEX TIVJSVQIH RIGIWWEV]
QEMRXIRERGI XEWOW EPSRK XLI WXEXMSR W SYXIV WOMR 8LIVI [EW &SFE XLI :6
STIVEXIH VSFSREYX [I JMXXIH [MXL E XLVYWXIV TEGO WS LI GSYPH [SVO FSHM EVSYRH XLI
WXEXMSR ERH E[E] JVSQ MX SR E WEXIPPMXI ;I EPWS LEH E PMXXPI WUYEHVSR SJ 47%W
XLIWI JVII JPSEXMRK VSFSXW EFSYX XLI WLETI ERH WM^I SJ E KVETIJVYMX %PP SJ XLMW
[SRHVSYW XIGLRSPSK] [EW HIWMKRIH XS QEOI SYV NSFW IEWMIV - [MWL XLI] LEHR X
[SVOIH WS [IPP
;I LEH QE]FI ER LSYV E HE] QE]FI IZIR X[S [LIVI XLIVI [EW RSXLMRK XS HS
=SY GSYPH WPIIT ]SY GSYPH I\IVGMWI ]SY GSYPH VIVIEH XLI WEQI FSSOW ]SY GSYPH
PMWXIR XS 6EHMS *VII )EVXL SV XS XLI QYWMG [I H FVSYKLX [MXL YW SZIV ERH SZIV ERH
SZIV EKEMR - HSR X ORS[ LS[ QER] XMQIW PMWXIRIH XS XLEX 6IHKYQ WSRK +SH
LIPT QI - [EW SRP] RMRIXIIR -X [EW Q] JEXLIV W JEZSVMXI VIQMRHIH LMQ SJ LMW
XMQI MR :MIXREQ - TVE]IH XLEX EPP XLEX EVQ] XVEMRMRK [EW LIPTMRK XS OIIT LMQ ERH
Q] QYQ EPMZI RS[ - LEHR X LIEVH ER]XLMRK JVSQ LMQ SV ER]SRI IPWI MR 3^ WMRGI
XLI KSZIVRQIRX LEH VIPSGEXIH XS 8EWQERME - [ERXIH XS FIPMIZI XLI] [IVI EPP VMKLX
FYX [EXGLMRK [LEX [EW LETTIRMRK SR )EVXL EW QSWX SJ YW HMH HYVMRK SYV SJJ HYX]
LSYVW QEHI MX EPQSWX MQTSWWMFPI XS LEZI LSTI
8LI] WE] XLEX HYVMRK XLI GSPH [EV %QIVMGER WT] FMVHW GSYPH VIEH XLI GST] SJ
4VEZHE MR E 7SZMIX GMXM^IR W LERHW - Q RSX WYVI MJ XLEX W IRXMVIP] XVYI - HSR X ORS[
XLI XIGL WTIGW SJ XLEX KIRIVEXMSR SJ LEVH[EVI &YX - GER
XIPP ]SY GLEX XLIWI QSHIVR SRIW [LSWI WMKREPW [I TMVEXIH JVSQ XLIMV VIPE] FMVHW
XLIWI GSYPH WLS[ QYWGPIW XIEV ERH FSRIW WRET =SY GSYPH VIEH XLI PMTW SJ ZMGXMQW
GV]MRK SYX JSV QIVG] SV HMI GSPSV SJ XLIMV I]IW [LIR XLI] FYPKIH [MXL XLIMV PEWX
FVIEXL =SY GSYPH WII EX [LEX TSMRX VIH FPSSH FIKER XS XYVR FVS[R ERH LS[ MX
PSSOIH SR KVE] 0SRHSR GIQIRX EW STTSWIH XS [LMXI 'ETI 'SH WERH
47% 4IVWSREP 7EXIPPMXI %WWMWXERGI
;SVPH ;EV >
;I LEH RS GSRXVSP SZIV [LEX XLI WT] FMVHW GLSWI XS SFWIVZI 8LIMV XEVKIXW [IVI
HIXIVQMRIH F] XLI 9 7 QMPMXEV] ;I WE[ E PSX SJ FEXXPIW 'LSRKUMRK =SROIVW [I
[EXGLIH E GSQTER] SJ -RHMER XVSSTW XV] XS VIWGYI GMZMPMERW XVETTIH MR %QFIHOEV
7XEHMYQ MR (IPLM XLIR FIGSQI XVETTIH XLIQWIPZIW ERH VIXVIEX XS +ERHLM 4EVO
[EXGLIH XLIMV GSQQERHIV JSVQ LMW QIR MRXS E WUYEVI XLI OMRH XLI 0MQI]W YWIH MR
GSPSRMEP HE]W -X [SVOIH EX PIEWX JSV E PMXXPI [LMPI 8LEX [EW XLI SRP] JVYWXVEXMRK
TEVX EFSYX WEXIPPMXI WYVZIMPPERGI ]SY GSYPH SRP] [EXGL RSX PMWXIR ;I HMHR X ORS[
XLEX XLI -RHMERW [IVI VYRRMRK SYX SJ EQQYRMXMSR SRP] XLEX XLI >IH ,IEHW [IVI
WXEVXMRK XS GPSWI MR ;I WE[ E LIPS LSZIV SZIVLIEH ERH [EXGLIH EW XLI
GSQQERHIV EVKYIH [MXL LMW WYFSVHMREXIW ;I HMHR X ORS[ MX [EW +IRIVEP 6EN
7MRKL [I HMHR X IZIR ORS[ [LS LI [EW (SR X PMWXIR XS [LEX XLI GVMXMGW WE] EFSYX
XLEX QER EFSYX LS[ LI FYKKIVIH SJX [LIR XLMRKW KSX XSS LSX ;I WE[ MX EPP ,I
HMH XV] XS TYX YT E JMKLX ERH SRI SJ LMW FPSOIW HMH WQEWL LMQ MR XLI JEGI [MXL E
VMJPI FYXX ,I [EW SYX GSPH [LIR XLI] LEYPIH LMQ MRXS XLEX [EXXMRK GLSTTIV -X [EW
E LSVVMFPI JIIPMRK WIIMRK MX EPP WS GPSWI ERH ]IX YREFPI XS HS ER]XLMRK
;I LEH SYV S[R SFWIVZEXMSR KIEV FSXL XLI GMZMPMER VIWIEVGL FMVHW ERH XLI
IUYMTQIRX VMKLX XLIVI SR XLI WXEXMSR 8LI MQEKIW XLI] KEZI YW [IVIR X LEPJ EW
TS[IVJYP EW XLI QMPMXEV] ZIVWMSRW FYX XLI] [IVI WXMPP JVMKLXIRMRKP] GPIEV 8LI] KEZI
YW SYV JMVWX PSSO EX XLI QIKE W[EVQW SZIV GIRXVEP %WME ERH XLI %QIVMGER +VIEX
4PEMRW 8LSWI [IVI XVYP] QEWWMZI QMPIW EGVSWW PMOI XLI %QIVMGER FYJJEPS QYWX
LEZI SRGI FIIR
;I [EXGLIH XLI IZEGYEXMSR SJ .ETER ERH GSYPHR X LIPT FYX QEVZIP EX XLI WGEPI
,YRHVIHW SJ WLMTW XLSYWERHW SJ WQEPP FSEXW ;I PSWX GSYRX SJ LS[ QER]
LIPMGSTXIVW FY^^IH FEGO ERH JSVXL JVSQ XLI VSSJXSTW XS XLI EVQEHE SV LS[ QER]
NIXPMRIVW QEHI XLIMV JMREP VYR RSVXL XS /EQGLEXOE
;I [IVI XLI JMVWX SRIW XS HMWGSZIV ^SQFMI LSPIW XLI TMXW XLEX XLI YR HIEH HMK
[LIR XLI] VI KSMRK EJXIV FYVVS[MRK ERMQEPW %X JMVWX [I XLSYKLX XLI] [IVI NYWX
MWSPEXIH MRGMHIRXW YRXMP [I RSXMGIH XLEX XLI] [IVI WTVIEHMRK EPP SZIV XLI [SVPH
WSQIXMQIW QSVI XLER SRI [SYPH ETTIEV MR GPSWI TVS\MQMX] XS XLI RI\X 8LIVI [EW E
JMIPH MR WSYXLIVR )RKPERH - KYIWW HMIVI QYWX LEZI FIIR E LMKL GSRGIRXVEXMSR SJ
VEFFMXW XLEX [EW NYWX VMHHPIH [MXL LSPIW EPP HMJJIVIRX HITXLW ERH WM^IW 1ER] SJ
HMIQ LEH PEVKI HEVO
WXEMRW EVSYRH XLIQ %PXLSYKL [I GSYPHR X ^SSQ MR GPSWI IRSYKL [I [IVI TVIXX]
WYVI MX [EW FPSSH *SV QI XLEX [EW XLI QSWX XIVVMJ]MRK I\EQTPI SJ SYV IRIQ] W
HVMZI 8LI] HMWTPE]IH RS GSRWGMSYW XLSYKLX NYWX WLIIV FMSPSKMGEP MRWXMRGX - SRGI
[EXGLIH E >IH ,IEH KS EJXIV WSQIXLMRK TVSFEFP] E KSPHIR QSPI MR XLI 2EQMF
(IWIVX 8LI QSPI LEH FYVVS[IH HIIT MR XLI WPSTI SJ E HYRI %W XLI KLSYP XVMIH XS
KS EJXIV MX HMI WERH OITX TSYVMRK HS[R ERH JMPPMRK XLI LSPI 8LI KLSYP HMHR X WXST
HMHR X VIEGX MR ER] [E] MX NYWX OITX KSMRK - [EXGLIH MX JSV JMZI HE]W XLI JY^^]
MQEKI SJ XLMW + HMKKMRK ERH HMK KMRK ERH HMKKMRK XLIR WYHHIRP] SRI QSVRMRK
NYWX WXSTTMRK KIXXMRK YT ERH WLYJJPMRK E[E] EW MJ RSXLMRK LEH LETTIRIH -X QYWX
LEZI PSWX XLI WGIRX +SSH SR XLI QSPI
*SV EPP SYV IRLERGIH STXMGW RSXLMRK LEH UYMXI XLI WEQI MQTEGX EW XLI REOIH I]I
8S NYWX PSSO XLVSYKL XLI ZMI[ TSVX HS[R SR SYV JVEKMPI PMXXPI FMSWTLIVI 8S WII XLI
QEWWMZI IGSPSKMGEP HIZEWXEXMSR QEOIW SRI YRHIVWXERH LS[ XLI QSHIVR
IRZMVSRQIRXEP QSZIQIRX FIKER [MXL XLI %QIVM GER WTEGI TVSKVEQ 8LIVI [IVI WS
QER] JMVIW ERH - HSR X NYWX QIER XLI FYMPHMRKW SV XLI JSVIWXW SV IZIR XLI SMP VMKW
FPE^MRK SYX SJ GSRXVSP FPIIHMRK 7EYHMW EGXYEPP] [IRX ELIEH ERH HMH MXB - QIER XLI
GEQTJMVIW EW [IPP [LEX LEH XS FI EX PIEWX E FMPPMSR SJ XLIQ XMR] SVERKI WTIGOW
GSZIVMRK XLI )EVXL [LIVI IPIGXVMG PMKLXW LEH SRGI FIIR )ZIV] HE] IZIV] RMKLX MX
WIIQIH PMOI XLI [LSPI TPERIX [EW FYVRMRK ;I GSYPHR X IZIR FIKMR XS GEPGYPEXI XLI
EWL GSYRX FYX [I KYIWWXMQEXIH MX [EW IUYMZEPIRX XS E PS[ KVEHI RYGPIEV I\GLERKI
FIX[IIR XLI 9RMXIH 7XEXIW ERH JSVQIV 7SZMIX 9RMSR ERH XLEX W RSX MRGPYHMRK XLI
EGXYEP RYGPIEV I\GLERKI FIX[IIR -VER ERH 4EOMWXER ;I [EXGLIH ERH VIGSVHIH
XLSWI EW [IPP XLI JPEWLIW ERH JMVIW XLEX KEZI QI I]I WTSXW JSV HE]W 2YGPIEV
EYXYQR [EW EPVIEH] FIKMRRMRK XS WIX MR XLI KVE]
FVS[R WLVSYH XLMGOIRMRK IEGL HE]
-X [EW PMOI PSSOMRK HS[R SR ER EPMIR TPERIX SV SR )EVXL HYVMRK XLI PEWX KVIEX QEWW
I\XMRGXMSR )ZIRXYEPP] GSRZIRXMSREP STXMGW FIGEQI YWIPIWW MR XLI WLVSYH PIEZMRK
YW [MXL SRP] XLIVQEP SV VEHEV WIRWSVW )EVXL W REXYVEP JEGI ZERMWLIH FILMRH E
GEVMGEXYVI SJ TVMQEV] GSPSVW -X [EW XLVSYKL SRI SJ
8S XLMW HE] RS SRI ORS[W [L] XLI 7EYHM VS]EP JEQMP] SVHIVIH XLI MKRMXMSR SJ
XLIMV OMRK HSQ WSMP JMIPHW
;SVPH ;EV >
XLIWI W]WXIQW XLI %WXIV WIRWSV ELSEVH XLI 8IVVE 7EXIPPMXI XLEX [I WE[ XLI 8LVII
+SVKIW (EQ GSPPETWI
6SYKLP] XIR XVMPPMSR KEPPSRW SJ [EXIV GEVV]MRK HIFVMW WMPX VSGOW XVIIW GEVW
LSYWIW ERH LSYWI WM^IH TMIGIW SJ XLI HEQ MXWIPJ -X [EW EPMZI E FVS[R ERH [LMXI
HVEKSR VEGMRK XS XLI )EWX 'LMRE 7IE ;LIR - XLMRO EX XLI TISTPI MR MXW TEXL
XVETTIH MR FEVVMGEHIH FYMPHMRKW YREFPI XS IWGETI XLI XMHEP [EZI FIGEYWI SJ XLI >IH
,IEHW VMKLX SYXWMHI XLIMV HSSVW 2S SRI ORS[W LS[ QER] TISTPI HMIH XLEX RMKLX
)ZIR XSHE] XLI] VI WXMPP JMRHMRK FSHMIW
?3RI SJ LMW WOIPIXEP LERHW FEPPW MRXS E JMWX XLI SXLIV TVIWWIW XLI WIPJ QIHMGEXI FYXXSR A
;LIR - XLMRO EFSYX LS[ XLI 'LMRIWI PIEHIVWLMT XVMIH XS I\TPEMR MX EPP E[E]
,EZI ]SY IZIV VIEH E XVERWGVMTX SJ GLI 'LMRIWI TVIWMHIRX W WTIIGL# ;I EGXYEPP]
[EXGLIH XLI FVSEHGEWX JVSQ E TMVEXIH WMKREP SJJ XLIMV 7MRSWEX -- ,I GEPPIH MX ER
YRJSVIWIIR XVEKIH] 6IEPP]# 9RJSVIWIIR# ;EW MX YRJSVIWIIR XLEX XLI HEQ LEH
FIIR FYMPX SR ER EGXMZI JEYPX PMRI# ;EW MX YRJSVIWIIR XLEX XLI MRGVIEWIH [IMKLX SJ E
KMERX VIWIVZSMV LEH MRHYGIH IEVXLUYEOIW MR XLI TEWX ERH XLEX GVEGOW LEH EPVIEH]
FIIR HIXIGXIH MR XLI JSYRHEXMSR QSRXLW FIJSVI XLI HEQ [EW GSQTPIXIH#
,I GEPPIH MX ER YREZSMHEFPI EGGMHIRX &EWXEVH 8LI] LEH IRSYKL XVSSTW XS [EKI
STIR [EVJEVI MR EPQSWX IZIV] QENSV GMX] FYX XLI] GSYPHR X WTEVI E GSYTPI SJ XVEJJMG
GSTW XS TVSXIGX EKEMRWX E GEXEWXVSTLI [EMXMRK XS LETTIR# 2S SRI GSYPH MQEKMRI XLI
VITIVGYWWMSRW SJ EFERHSRMRK FSXL XLI WIMWQMG [EVRMRK WXEXMSRW ERH XLI IQIVKIRG]
WTMPP[E] GSRXVSPW# %RH XLIR XS XV] XS GLERKI XLIMV WXSV] LEPJ[E] XLVSYKL XS WE]
XLEX XLI] H EGXYEPP] HSRI IZIV]XLMRK XLI] GSYPH XS TVSXIGX XLI HEQ XLEX EX XLI XMQI
SJ XLI HMWEWXIV ZEPMERX XVSSTW SJ XLI 40% LEH KMZIR XLIMV PMZIW XS HIJIRH MX ;IPP
- H FIIR TIVWSREPP] SFWIVZMRK 8LVII +SVKIW JSV SZIV E ]IEV PIEHMRK YT XS XLI
HMWEWXIV ERH XLI SRP] 40% WSPHMIVW - IZIV WE[ LEH KMZIR XLIMV PMZIW E PSRK
8LI VIWIVZSMV SJ 0IWSXLS W /EXWI (EQ [EW GSRJMVQIH XS GEYWI RYQIVSYW
WIMWQMG HMWXYVFERGIW WMRGI MXW GSQTPIXMSR MR
PSRK XMQI EKS (MH XLI] VIEPP] I\TIGX XLIMV S[R TISTPI XS FY] WYGL E FPEXERX PMI
(MH XLI] VIEPP] I\TIGX ER]XLMRK PIWW XLER EPP SYX VIFIPPMSR
8[S [IIOW EJXIV XLI WXEVX SJ XLI VIZSPYXMSR [I VIGIMZIH SYV JMVWX ERH SRP] WMKREP
JVSQ XLI 'LMRIWI WTEGI WXEXMSR =ERK 0M[IM -X [EW XLI SRP] SXLIV QERRIH JEGMPMX]
MR SVFMX FYX GSYPHR X GSQTEVI XS WYGL ER I\UYMWMXI QEWXIVTMIGI EW SYVW -X [EW
QSVI SJ E WPETHEWL NSF 7LIR^LSY QSHYPIW ERH 0SRK 1EVGL JYIP XEROW GSFFPIH
XSKIXLIV PMOI E KMERX ZIVWMSR SJ XLI SPH %QIVMGER 7O]PEF
;I H FIIR XV]MRK XS GSRXEGX XLIQ JSV QSRXLW ;I [IVIR X IZIR WYVI MJ XLIVI [EW E
GVI[ %PP [I KSX [EW E VIGSVHIH QIWWEKI MR TIVJIGX ,SRK /SRK )RKPMWL XS OIIT
SYV HMWXERGI PIWX [I MRZMXI E VIWTSRWI SJ HIEHP] JSVGI ;LEX ER MRWERI [EWXI ;I
GSYPH LEZI [SVOIH XSKIXLIV XVEHIH WYTTPMIW XIGLRMGEP I\TIVXMWI ;LS ORS[W [LEX
[I GSYPH LEZI EGGSQTPMWLIH MJ [I LEH SRP] GLYGOIH XLI TSPMXMGW ERH GSQI
XSKIXLIV EW LYQER FPSSH] FIMRKW
;I H GSRZMRGIH SYVWIPZIW XLEX XLI WXEXMSR LEH RIZIV FIIR MRLEFMXIH EX EPP XLEX XLIMV
HIEHP] JSVGI [EVRMRK [EW NYWX E VYWI ;I GSYPHR X LEZI FIIR QSVI WYVTVMWIH [LIR
XLI WMKREP GEQI SZIV SYV LEQ VEHMS -X [EW E PMZI LYQER ZSMGI XMVIH JVMKLXIRIH
ERH GYXXMRK SYX EJXIV SRP] E JI[ WIGSRHW -X [EW EPP - RIIHIH XS FSEVH XLI :IVRI ERH
LIEH SZIV XS XLI =ERK
%W WSSR EW MX GEQI SZIV XLI LSVM^SR - GSYPH XIPP XLEX MXW SVFMX LEH WLMJXIH VEHMGEPP]
%W - GPSWIH XLI HMWXERGI - GSYPH WII [L] 8LIMV IWGETI TSH LEH FPS[R MXW LEXGL
ERH FIGEYWI MX [EW WXMPP HSGOIH XS XLI TVMQEV] EMVPSGO XLI IRXMVI WXEXMSR LEH
HITVIWWYVM^IH MR WIGSRHW %W E TVIGEYXMSR - VIUYIWXIH HSGOMRK GPIEVERGI - KSX
RSXLMRK %W - GEQI EFSEVH - GSYPH WII XLEX IZIR XLSYKL XLI WXEXMSR [EW GPIEVP]
PEVKI IRSYKL JSV E GVI[ SJ WIZIR SV IMKLX MX SRP] LEH XLI FYRO WTEGI ERH TIVWSREP
OMXW JSV X[S - JSYRH XLI =ERK
TEGOIH [MXL IQIVKIRG] WYTTPMIW IRSYKL JSSH [EXIV ERH 5 GERHPIW JSV EX PIEWX
JMZI ]IEVW ;LEX - GSYPHR X JMKYVI SYX EX JMVWX [EW [L] 8LIVI [EW RS WGMIRXMJMG
IUYMTQIRX EFSEVH RS MRXIPPMKIRGI KEXLIVMRK EWWIXW -X [EW EPQSWX PMOI XLI 'LMRIWI
KSZIVRQIRX LEH WIRX XLIWI X[S QIR MRXS WTEGI JSV RS SXLIV TYVTSWI XLER XS I\MWX
*MJXIIR QMRYXIW MRXS Q] JPSEXEFSYX - JSYRH
8LI -RXIVREXMSREP 7TEGI 7XEXMSR MW IUYMTTIH [MXL E 'LMPMER LEQ VEHMS
SVMKMREPP] XS EPPS[ XLI GVI[ XS XEPO XS WGLSSPGLMPHVIR
;SVPH ;EV >
XLI JMVWX SJ WIZIVEP WGYXXPMRK GLEVKIW 8LMW WTEGI WXEXMSR [EW PMXXPI QSVI XLER E KMERX
3VFMXEP (IRMEP :ILMGPI -J XLSWI GLEVKIW [IVI XS HIXSREXI XLI HIFVMW JVSQ E JSYV
LYRHVIH QIXVMG XSR WTEGI WXEXMSR [SYPH RSX SRP] FI IRSYKL XS HEQEKI SV HIWXVS]
ER] SXLIV SVFMXMRK TPEXJSVQ FYX ER] JYXYVI WTEXI PEYRGL [SYPH LS KVSYRHIH JSV
]IEVW -X [EW E 7GSVGLIH 7TEGI TSPMG] MJ [I GER X LEZI MX RIMXLIV GER ER]SRI
IPWI
%PP XLI WXEXMSR W W]WXIQW [IVI WXMPP STIVEXMSREP 8LIVI LEH FIIR RS JMVI RS
WXVYGXYVEP HEQEKI RS VIEWSR - GSYPH WII XS GEYWI XLI EGGMHIRX SJ XLI IWGETI TSH W
LEXGL - JSYRH XLI FSH] SJ E PSRI XEMOSREYX [MXL LMW LERH WXMPP GPMRKMRK XS XLI LEXGL
VIPIEWI ,I [EW [IEVMRK SRI SJ XLIMV TVIWWYVM^IH IW
GETI WYMXW FYX XLI JEGITPEXI LEH FIIR WLEXXIVIH F] E FYPPIX - Q KYIWWMRK XLI
WLSSXIV [EW FPS[R SYX MRXS WTEGI - H PMOI XS FIPMIZI XLEX XLI 'LMRIWI VIZSPYXMSR
[EWR X NYWX VIWXVMGXIH XS )EVXL XLEX XLI QER [LS H FPS[R XLI LEXGL [EW EPWS XLI SRI
[LS LEH EXXIQTXIH XS WMKREP YW ,MW QEXI QYWX LEZI WXYGO F] XLI SPH KYEVH 1E]FI
1MWXIV 0S]EPMWX LEH FIIR SVHIVIH XS WIX SJJ XLI WGYXXPMRK GLEVKIW >LEM XLEX [EW XLI
REQI SR LMW TIVWSREP IJ JIGXW >LEM LEH XVMIH XS FPEWX LMW QEXI MRXS WTEGI ERH LEH
GEYKLX E VSYRH MR XLI TVSGIWW 1EOIW JSV E KSSH XEPI - XLMRO 8LEX W LS[ - Q KSMRK
XS VIQIQFIV MX
-W XLEX LS[ ]SY [IVI EFPI XS I\XIRH ]SYV IRHYVERGI# &] YWMRK XLI WYTTPMIW EFSEVH
XLI =ERK#
-,I KMZIW QI E XLYQFW YT A ;I GERRMFEPM^IH IZIV] MRGL SJ MX JSV WTEVIW ERH
QEXIVMEPW ;I [SYPH LEZI PMOIH XS LEZI QIVKIH XLI X[S TPEXJSVQW XSKIXLIV FYX [I
HMHR X LEZI XLI XSSPW SV QERTS[IV JSV WYGL ER YRHIVXEOMRK ;I QMKLX FIIR EFPI XS
YWI XLI IWGETI TSH XS VIXYVR XS )EVXL -X LEH E LIEX WLMIPH ERH VSSQ JSV XLVII -X
[EW ZIV] XIQTXMRK &YX XLI WXEXMSR W SVFMX [EW HIGE]MRK VETMHP] ERH [I LEH XS
QEOI E GLSMGI XLIR ERH XLIVI IWGETI XS )EVXL SV VIWYTTP] XLI -77 =SY ORS[
[LMGL GLSMGI [I QEHI
&IJSVI [I JMREPP] EFERHSRIH LIV [I PEMH SYV JVMIRH >LEM XS VIWX ;I WXVETTIH LMW
FSH] MRXS MXW FYRO FVSYKLX LMW TIVWSREP OMX FEGO XS XLI -77 ERH WEMH E JI[ [SVHW
MR LMW LSRSV EW XLI =ERK FYVRIH YT MR XLI )EVXL W EXQSWTLIVI *SV EPP [I ORI[ LI
QMKLX LEZI FIIR XLI PS]EPMWX RSX XLI
VIFIP FYX IMXLIV [E] LMW EGXMSRW EPPS[IH YW XS WXE] EPMZI 8LVII QSVI ]IEVW [I
VIQEMRIH MR SVFMX XLVII QSVI ]IEVW XLEX [SYPHR X LEZI FIIR TSWWMFPI [MXLSYX XLI
'LMRIWI GSRWYQEFPIW
- WXMPP XLMRO MX W SRI SJ XLI [EV W KVIEX MVSRMIW XLEX SYV VITPEGIQIRX GVI[ IRHIH YT
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>EGO W WOYPP ERH JVEKQIRXW [SYPH JV] MXW FVEMR 2S VMWO SJ WTVIEHMRK MRJIGXIH KVE]
QEXXIV ERH RS RIIH JSV [EWXIJYP FSRJMVIW 3R &7 HYX] ]SY HMHR X IZIR LEZI XS
HIGET FIJSVI ]SY FYVMIH XLIQ .YWX HMK XLI XVIRGL ERH VSPP XLI [LSPI FSH] MR
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SPH VIUYMVIQIRXW TL]WMGEP WXEQMRE QIRXEP GSQTIXIRGI XLI QSXMZEXMSR ERH
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SV ER]XLMRK PMOI XLEX - SRGI VIEH XLMW &VMXMWL 7%7 WYVZMZEP KYMHI XLEX XEPOIH EPP
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E ZIXIVER MR WSQI WIRWI 1] FEXXPI FYHH] 7MWXIV 1SRXS]E JMJX] X[S ]IEVW SPH
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JVSRX ERH XLI QSYRXEMRW MR FEGO 4IVJIGX XLI] WEMH JSV ER STIRMRK IRKEKIQIRX
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YRHIV XLI WXEVW ERH EPWS IZIV]SRI [EW VIEPP] UYMIX =SY ORI[ [LEX IZIV]SRI [EW
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ERH EW JEV EW [I [IVI GSRGIVRIH LI GSYPH LEZI MX ;I H EPP LEH TPIRX] SJ TIT XEPOW
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IZIV]XLMRK IPWI ;I QEWWIH MR E WXVEMKLX PMRI X[S VEROW SRI EGXMZI SRI VIWIVZI
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VIPSEHMRK [I GSYPH OIIT >EGO JEPPMRK EW PSRK EW XLI EQQS LIPH SYX
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XLMW
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WUYEH PIEHIVW WLSYXIH *VSRX VERO VIEH] ERH HMI JMVWX PMRI ORIPX 8LIR GEQI XLI
SVHIV XS XEOI EMQ ERH XLIR EW [I EPP LIPH SYV FVIEXL EW XLI QYWMG GPMGOIH SJJ
[I LIEVH *-6)
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+ XLEX GVSWWIH XLI JMVWX QEVOIVW ;I LEH WXVMGX SVHIVW SRP] XLI SRIW GVSWWMRK XLI
PMRI ;EMX JSV XLI SXLIVW ;I H XVEMRIH XLMW [E] JSV QSRXLW &] RS[ MX [EW TYVI
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QEK ;I W[MXGLIH TSWMXMSRW - JPMTTIH SJJ Q] WEJIX] ERH WMKLXIH Q] JMVWX XEVKIX
7LI [EW E RSSF GSYPHR X LEZI FIIR HIEH QSVI HMER E ]IEV SV WS ,IV HMVX] FPSRH
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;SVPH ;EV >
3R XLI VERKI [I TVEGXMGIH [MXL QIXVSRSQIW EPP XLI XMQI XLI MRWXVYGXSVW WE]MRK XLI] EMR X
MR RS LYVV] [L] EVI ]SY# -X [EW E [E] SJ OIITMRK GEPQ TEGMRK ]SYVWIPJ ;I LEH XS FI
EW WPS[ ERH VSFSXMG EW XLIQ 3YX + XLI + XLI] YWIH XS WE]
?,MW JMRKIVW WRET MR TIVJIGX VL]XLQ A
7LSSXMRK W[MXGLMRK VIPSEHMRK KVEFFMRK WMTW JVSQ ]SYV GEQIP TEGO KVEFFMRK GPMTW JVSQ
XLI 7ERHPIVW
7ERHPIVW#
=IEL XLI 6IGLEVKI 8IEQW XLMW WTIGMEP VIWIVZI YRMX GLEV HMH RSXLMRK LYI QEOI
WYVI [I RIZIV VER HV] =SY SRP] LEH E GIVXEMR RYQFIV SJ GPMTW SR ]SY ERH MX [SYPH
XEOI E PSX QSVI XMQI XS VIPSEH IEGL MRHMZMHYEP GPMT 8LI 7ERHPIVW VER YT ERH HS[R
XLI PMRI GSPPIGXMRK IQTX] GPMTW VIGLEVKMRK XLIQ JVSQ GVEXIH EQQS ERH XLIR
TEWWMRK XLIQ SYX XS ER]SRI [LS WMKREPIH 8LI WXSV] MW XLEX [LIR XLI EVQ] WXEVXIH
XVEMRMRK [MXL 68W SRI SJ XLI KY]W WXEVXIH HSMR ER %HEQ 7ERHPIV MQTVIWWMSR ]SY
ORS[ ;EXIV &S] %QQS &S] 8LI SJJMGIVW [IVIR X XSS NE^^IH [MXL XLI XEK
LYX XLI 6IGLEVKI 8IEQW PSZIH MX 7ERHPIVW [IVI PMJIWEZIVW HVMPPIH PMOI E JYGOMR
FEPPIX - HSR X XLMRO ER]SRI XLEX HE] SV RMKLX IZIV JSYRH XLIQWIPZIW SRI VSYRH
WLSVX
8LEX RMKLX#
8LI] NYWX OITX GSQMRK JYPP SR 'LEMR 7[EVQ
8LEX W E PEVKI WGEPI EXXEGO#
1SVI XLER XLEX 3RI + WIIW ]SY GSQIW EJXIV ]SY ERH QSERW % GPMGO E[E]
ERSXLIV + LIEVW XLEX QSER GSQIW EJXIV MX ERH QSERW LMQWIPJ XLIR ERSXLIV SRI
ERSHMIV GPMGO E[E] XLIR ERSXLIV (YHI MJ XLI EVIE W XLMGO IRSYKL MJ XLI GLEMR W
YRFVSOIR [LS ORS[W LS[ JEV ]SY GER TYPP XLIQ MR JVSQ %RH [I VI NYWX XEPOMRK
SRI EJXIV XLI SXLIV LIVI 8V] XIR IZIV] GPMGO E LYRHVIH E XLSYWERH
8LI] WXEVVIH TMPMRK YT JSVQMRK XLMW EVXMJMGMEP TEPMWEHI EX XLI JMVWX VERKI QEVOIV XLMW
VMHKI SJ GSVTWIW XLEX KSX LMKLIV ERH LMKLIV IEGL QMRYXI ;I [IVI EGXYEPP] FYMPHMRK
ER YRHIEH JSVXMJMGEXMSR GVIEXMRK E WMXYEXMSR [LIVI EPP [I LEH XS HS [EW TST IZIV]
LIEH XLEX TSTTIH SZIV XLI XST 8LI FVEWW LEH TPERRIH JSV XLMW 8LI] LEH E
TIVMWGSTI XS[IV XLMRK] XLEX PIX SJJMGIVW WII VMKLX SZIV XLI [EPP 8LI] EPWS LEH VIEP
XMQI HS[RPMROW JVSQ WEXIPPMXIW ERH VIGSR HVSRIW EPXLSYKL [I XLI KVYRXW LEH RS
MHIE [LEX XLI] [IVI WIIMRK 0ERH ;EVVMSV [EW KSRI JSV RS[ WS EPP [I LEH XS HS
[EW GSRGIRXVEXI SR [LEX [EW MR JVSRX SJ SYV JEGIW
;I WXEVXIH KIXXMRK GSRXEGXW JVSQ EPP WMHIW IMXLIV GSQMRK EVSYRH XLI [EPP SV IPWI
FIMRK HVE[R MR JVSQ SYV JPEROW ERH IZIR VIEV %KEMR XLI FVEWW [EW [EMXMRK JSV XLMW
ERH SVHIVIH YW XS JSVQ ER 67
% 6IMRJSVGIH 7UYEVI
3V E 6EN 7MRKL - KYIWW EJXIV XLI KY] [LS VIMRZIRXIH MX ;I JSVQIH E XMKLX
WUYEVI WXMPP X[S VEROW [MXL SYV ZILMGPIW ERH [LEXRSX MR XLI GIRXIV 8LEX [EW E
HERKIVSYW KEQFPI GYXXMRK YW SJJ PMOI XLEX - QIER ]IEL MX HMHR X [SVO XLEX JMVWX
XMQI MR -RHME SRP] GEYWI XLI EQQS VER SYX &YX XLIVI [EW RS KYEVERXII MX [SYPHR X
LETTIR EKEMR XS YW ;LEX MJ XLI FVEWW LEH KSSJIH LEHR X TEGOIH IRSYKL VSYRHW SV
YRHIVIWXMQEXIH LS[ WXVSRK >EGO [SYPH FI XLEX HE] -X GSYPH LEZI FIIR =SROIVW
EPP SZIV EKEMR [SVWI FIGEYWI RS SRI [SYPH FI KIXXMRK SYX SJ XLIVI EPMZI
&YX ]SY HMH LEZI IRSYKL EQQYRMXMSR
1SVI XLER IRSYKL 8LI ZILMGPIW [IVI TEGOIH XS XLIMV VSSJW ;I LEH [EXIV
[I LEH VITPEGIQIRXW -J ]SY RIIHIH E JMZIV ]SY NYWX VEMWIH ]SYV [IETSR ERH SRI
SJ XLI 7ERHPIVW [SYPH NYQT MR ERH XEOI SYV TPEGI SR XLI JMVMRK
S
PMRI =SY H KVEF E FMXI SJ - 6EXMSRW WSEO ]SYV JEGI WXVIXGL HVEMR XLI [IEWIP 2S
SRI [SYPH IZIV ZSPYRXIIV JSV E JMZIV FYX XLI] LEH XLIWI /3 XIEQW
1 'SQFEX 3FWIVZEXMSR %MH
- 6EXMSRW WLSVX JSV -RXIPPMKIRX 6EXMSRW XLI] [IVI HIWMKRIH XSV QE\MQYQ RYXVMXMSREP
IJJMGMIRG]
/3 WLSVX JSV /RSGO 3YX
;SVPH ;EV >
GSQFEX WLVMROW [LS [IVI SFWIVZMRK IZIV]SRI W TIVJSVQERGI 8LI] H FIIR [MXL YW
WMRGI SYV IEVP] HE]W SR XLI VERKI ORI[ YW IEGL F] REQI ERH JEGI ERH ORI[ HSR X
EWO QI LS[ [LIR XLI WXVIWW SJ FEXXPI [EW WXEVXMRK XS HI KVEHI SYV TIVJSVQERGI
;I HMHR X ORS[ - GIVXEMRP] HMHR X 8LIVI [IVI E GSYTPI XMQIW - H QMWW E WLSX SV
QE]FI XEOI E LEPJ WIGSRH MRWXIEH SJ E JYPP 8LIR WYHHIRP] - H KIX XLMW XET SR Q]
WLSYPHIV ERH - ORI[ - [EW SYX SJ MX JSV JMZI -X VIEPP] [SVOIH &IJSVI - ORI[ MX [EW FEGO SR XLI PMRI FPEHHIV IQTX] WXSQEGL UYMIX E JI[ PIWW OMROW ERH QYWGPI
GVEQTW -X QEHI E [SVPH SJ HMJJIVIRGI ERH ER]SRI [LS XLMROW [I GSYPH LEZI
PEWXIH [MXLSYX MX WLSYPH XV] LMXXMRK E QSZMRK FYPP W I]I IZIV] WIGSRH JSV JMJXIIR
LSYVW
;LEX EFSYX EX RMKLX#
;I YWIH WIEVGLPMKLXW JVSQ XLI ZILMGPIW TS[IVJYP VIH GSEXIH FIEQW WS MX HMHR X
QIWW [MXL ]SYV RMKLX ZMWMSR 8LI SRP] GVIIT] XLMRK EFSYX RMKLX JMKLXMRK SXLIV XLER
XLI VIHRIWW JVSQ XLI PMKLXW MW XLI KPS[ E VSYRH QEOIW [LIR MX IRXIVW XLI LIEH
8LEX W [L] [I GEPPIH XLIQ 'LIVV] 4-)7 FIGEYWI MJ XLI FYPPIX W GLIQGSQT
[EWR X QM\IH VMKLX MX [SYPH FYVR WS FVMKLX MX QEHI XLIMV I]IW KPS[ VIH 8LEX [EW E
GYVI JSV GSRWXMTEXMSR IWTIGMEPP] PEXIV SR SR RMKLXW [LIR ]SY TYPPIH KYEVH HYX]
ERH SRI [SYPH GSQI EX ]SY SYX SJ XLI HEVO 8LSWI KPS[MRK VIH I]IW JVS^IR MR
XMQI XLI WIGSRH FIJSVI MX JEPPW ?7LMZIVW A
,S[ HMH ]SY ORS[ XLI FEXXPI [EW SZIV#
;LIR [I WXSTTIH WLSSXMRK# - 0EYKLW - 2S XLEX W EGXYEPP] E KSSH UYIWXMSR
%VSYRH - HSR X ORS[
MX WXEVXIH XS XETIV SJJ ,IEHW [IVIR X TSOMRK SYX EW
QYGL 8LI QSER [EW H]MRK HS[R 8LI SJJMGIVW HMHR X XIPP YW XLEX XLI EXXEGO [EW
EPQSWX SZIV FYX ]SY GSYPH WII XLIQ PSSOMRK XLVSYKL XLIMV WGSTIW XEPOMRK SR XLIMV
VEHMSW =SY GSYPH WII XLI VIPMIJ MR XLIMV JEGIW - XLMRO XLI PEWX WLSX [EW JMVIH NYWX
FIJSVI HE[R %JXIV XLEX [I NYWX [EMXIH JSV JMVWX PMKLX
-X [EW OMRHE IIVMI XLI WYR VMWMRK SZIV XLMW QSYRXEMRSYW VMRK SJ GSVTWIW ;I [IVI
XSXEPP] [EPPIH MR EPP WMHIW [IVI TMPIH EX PIEWX X[IRX] JIIX LMKL ERH
SZIV E LYRHVIH JIIX HIIT 4Q RSX WYVI LS[ QER] [I OMPPIH XLEX HE] WXEXW EP[E]W
ZEV] HITIRHMRK SR [LS ]SY KIX MX JVSQ
8LI HS^IV FPEHI ,YQZIIW LEH XS TYWL E TEXL XLVSYKL XLI GSVTWI VMRK NYWX XS PIX YW
KIX SYX 8LIVI [IVI WXMPP PMZMRK +W WSQI WPS[ SRIW [LS [IVI PEXI XS XLI TEVX] SV
[LS LEH XVMIH XS GPMQF YT ERH SZIV XLIMV HIEH JVMIRHW ERH LEH WPMH FEGO HS[R MRXS
XLI QSYRH ;LIR [I WXEVXIH FYV]MRK XLI FSHMIW XLI] GEQI XYQFPMRK SYX 8LEX [EW
XLI SRP] XMQI 7IRSV 0SFS WE[ ER] EGXMSR
%X PIEWX [I HMHR X LEZI XS WXMGO EVSYRH JSV &7 HYX] 8LI] LEH ERSXLIV YRMX [EMXMRK
MR VIWIVZI XS GPIER YT - KYIWW XLI FVEWW JMKYVIH [I H HSRI IRSYKL JSV SRI HE] ;I
QEVGLIH XIR QMPIW XS XLI IEWX WIX YT E FMZSYEG [MXL [EXGLXS[IVW ERH GSRGIVXEMRIV
[EPPW - [EW WS HEQR FIEX - HSR X VI QIQFIV XLI GLIQ WLS[IV XYVRMRK MR Q] KIEV
XS FI HMWMRJIGXIH XYVRMRK MR Q] [IETSR JSV MRWTIGXMSR RSX SRI NEQ RSX XLI [LSPI
YRMX - HSR X IZIR VIQIQFIV WPMTTMRK MRXS Q] FEK
8LI] PIX YW WPIIT EW PEXI EW [I [ERXIH XLI RI\X HE] 8LEX [EW TVIXX] W[IIX
)ZIRXYEPP] XLI ZSMGIW [SOI QI YT IZIV]SRI NE[MRK PEYKLMRK XIPPMRK WXSVMIW -X
[EW E HMJJIVIRX ZMFI SRI IMKLX] JVSQ X[S HE]W EKS - GSYPHR X VIEPP] TYX E JMRKIV
SR [LEX - [EW JIIPMRK QE]FI MX [EW [LEX XLI TVIWMHIRX WEMH EFSYX VIGPEMQMRK SYV
JYXYVI - NYWX ORI[ - JIPX KSSH FIXXIV XLER - LEH XLI IRXMVI [EV - ORI[ MX [EW
KSRRE FI E VIEP PSRK EWW VSEH - ORI[ SYV GEQTEMKR EGVSWW %QIVMGE [EW NYWX
FIKMRRMRK FYX LI] EW XLI TVI^ WEMH PEXIV XLEX JMVWX RMKLX MX [EW JMREPP] XLI
FIKMRRMRK SJ XLI IRH
%MRW[SVXL 2IFVEWOE 97%
?(EVRIPP ,EGO[SVXL MW E WL] WSJX WTSOIR QER ,I ERH LMW [MJI VYR E VIXMVIQIRX JEVQ JSV
XLI XSYV PIKKIH ZIXIVERW SJ XLI EVQ] W
P3 'SRGIVXEMRIV % TVIJEFVMGEXIH LSPPS[ FEVVMIV GSRWXVYGXIH SJ /IZPEV ERH XMPPIH [MXL
IEVXL ERH SV HIFVMW
;SVPH ;EV >
/ 'SVTW 8IR ]IEVW EKS JEVQW PMOI XLIWI GSYPH FI JSYRH MR EPQSWX IZIV] WXEXI MR XLI
YRMSR 2S[ XLMW MW XLI SRP] SRI PIJX A
8LI] RIZIV KIX IRSYKL GVIHMX - GLMRO 8LIVI MW XLEX WXSV] (E\ RMGI PMXXPI GLMPHVIR W
FSSO FYX MX W TVIXX] WMQTPMWXMG ERH MX W SRP] EFSYX SRI (EPQEXMER XLEX LIPTIH ER
SVTLER OMH JMRH LMW [E] XS WEJIX] (E\ [EWR X IZIR MR XLI QMPMXEV] ERH LIPTMRK
PSWX GLMPHVIR [EW E XMR] JVEGXMSR SJ HSKW SZIV EPP GSRXVMFYXMSR XS XLI JMKLX
8LI JMVWX XLMRK XLI] YWIH HSKW JSV [EW XVMEKI PIXXMRK XLIQ WRMJJ JSV [LS [EW
MRJIGXIH 1SWX GSYRXVMIW [IVI NYWX GST]MRK XLI -WVEIPM QIXLSH SJ WIRHMRK TISTPI
TEWX HSKW MR GEKIW =SY EP[E]W LEH XS OIIT XLIQ MR GEKIW SXLIV
[MWI XLI] QMKLX EXXEGO HMI TIVWSR SV IEGL SXLIV SV IZIR XLIMV LERHPIV 8LIVI [EW
E PSX SJ XLEX IEVP] MR XLI [EV HSKW NYWX KSMRK FEPPMWXMG -X HMHR X QEXXIV MJ XLI] [IVI
TSPMGI SV QMPMXEV] -X W XLEX MRWXMRGX XLEX MRZSPYRXEV] EPQSWX KIRIXMG XIVVSV *MKLX SV
JPMKLX ERH XLSWI HSKW [IVI FVIH XS JMKLX % PSX SJ LERHPIVW PSWX LERHW EVQW E PSX
SJ XLVSEXW KSX XSVR SYX 'ER X FPEQI XLI HSKW JSV MX -R JEGX XLEX MRWXMRGX [EW [LEX
XLI -WVEIPMW [IVI GSYRXMRK SR ERH MX TVSFEFP] WEZIH QMPPMSRW SJ PMZIW
-X [EW E KVIEX TVSKVEQ FYX EKEMR NYWX E JVEGXMSR SJ [LEX HSKW [IVI XVYP] GETEFPI
SJ ;LIVIEW XLI -WVEIPMW ERH EJXIV XLIQ E PSX SJ SXLIV GSYRXVMIW SRP] XVMIH XS
I\TPSMX XLEX XIVVSV MRWXMRGX [I XLSYKLX [I GSYPH MRXIKVEXI MX MRXS XLIMV VIKYPEV
XVEMRMRK %RH [L] RSX [I PIEVRIH XS HS MX JSV SYVWIPZIW ERH EVI [I VIEPP] XLEX
QYGL QSVI IZSPZIH#
-X EPP GEQI HS[R XS XVEMRMRK =SY LEH XS WXEVX ]SYRK IZIR XLI QSWX HMWGMTPMRIH
TVI[EV ZIXIVERW [IVI LEVH[MVIH FIVWIVOIVW 8LI TYTW FSVR EJXIV XLI GVMWMW GEQI
SYX SJ XLI [SQF PMXIVEPP] WQIPPMRK XLI HIEH -X [EW MR XLI EMV RSX IRSYKL JSV YW XS
HIXIGX FYX NYWX E JI[ QSPIGYPIW ER MRXVSHYGXMSR SR E WYFGSRWGMSYW PIZIP 8LEX W
RSX XS WE] MX QEHI EPP SJ XLIQ EYXSQEXMG [EVVMSVW 8LI MRMXMEP MRHYGXMSR [EW XLI
JMVWX ERH QSWX MQTSVXERX TLEWI =SY XSSO E KVSYT SJ TYTW E VERHSQ KVSYT SV IZIR
E [LSPI PMXXIV TYX XLIQ MR E VSSQ HMZMHIH F] E [MVI QIWL 8LI] VI SR SRI WMHI
>EGO W SR XLI SXLIV =SY HMHR X LEZI XS [EMX PSRK JSV E VIEGXMSR 8LI JMVWX KVSYT [I
GEPPIH &W 8LI] H WXEVX [LMQTIVMRK SV LS[PMRK 8LI] H PSWX MX 8LI] [IVI RSXLMRK
PMOI XLI %W 8LSWI TYTW [SYPH PSGO I]IW [MXL >EGO XLEX [EW XLI OI] 8LI] H WXERH
XLIMV KVSYRH FEVI XLIMV XIIXL ERH PIX SYX XLMW PS[ KVS[P XLEX WEMH &EGO XLI XYGO
SJJ 8LI] GSYPH GSRXVSP XLIQWIPZIW ERH XLEX [EW XLI JSYRHEXMSR SJ SYV TVSKVEQ
2S[ NYWX FIGEYWI XLI] GSYPH GSRXVSP XLIQWIPZIW HMHR X QIER XLEX [I GSYPH GSRXVSP
XLIQ &EWMG XVEMRMRK [EW TVIXX] QYGL PMOI XLI WXERHEVH TVI [EV TVSKVEQ 'SYPH
XLI] LERHPI 48# 'SYPH XLI] JSPPS[ SVHIVW# (MH XLI] LEZI XLI MRXIPPMKIRGI ERH XLI
HMWGMTPMRI XS QEOI WSPHMIVW# -X [EW LEVH KSMRK ERH [I LEH E TIVGIRX [EWLSYX
VEXI -X [EWR X YRGSQQSR JSV E VIGVYMX XS FI FEHP] MRNYVIH TIVLETW IZIR OMPPIH %
PSX SJ TISTPI RS[EHE]W GEPP XLEX MRLYQERI XLSYKL XLI] HSR X WIIQ XS LEZI XLI
WEQI W]QTEXL] JSV XLI LERHPIVW =IEL [I LEH XS HS MX XSS VMKLX EPSRKWMHI XLI
HSKW VMKLX JVSQ HE] SRI SJ &EWMG XLVSYKL XIR QSVI [IIOW SJ %-8 -X [EW LEVH
XVEMRMRK IWTIGMEPP] XLI 0MZI )RIQ] )\IVGMWIW =SY ORS[ [I [IVI XLI JMVWX SRIW XS
YWI >EGO MR SYV JMIPH XVEMRMRK FIJSVI XLI MRJERXV] FIJSVI XLI 7TIGMEP *SVGIW IZIR
FIJSVI XLI >SSQMIW EX ;MPPS[ 'VIIO# -X [EW XLI SRP] [E] XS VIEPP] ORS[ MJ ]SY
GSYPH LEGO MX FSXL EW ER MRHMZMHYEP ERH EW E XIEQ
,S[ IPWI GSYPH ]SY LEZI WIRX XLIQ SR WS QER] HMJJIVIRX QMWWMSRW# 8LIVI [IVI
0YVIW XLI OMRH XLEX XLI &EXXPI SJ ,STI QEHI JEQSYW 4VIXX] WMQTPI WXYJJ ]SYV
TEVXRIV LYRXW JSV >EGO XLIR PIEHW LMQ MRXS SYV JMVMRK PMRI /W SR IEVP] QMWWMSRW
YWIH XS FI JEWX VYR MR FEVO XLIR NEQ MX JSV XLI OMPP ^SRI 0EXIV XLI] KSX QSVI
GSQJSVXEFPI 8LI] PIEVRIH XS WXE] NYWX E JI[ JIIX ELIEH FEGOMRK E[E] WPS[P]
QEOMRK WYVI XLI] LIVHIH XLI QE\MQYQ EQSYRX SJ XEVKIXW -R XLEX [E] XLI]
EGXYEPP] GEPPIH XLI WLSXW
8LIVI [IVI EPWS (IGS]W 0IX W WE] ]SY [IVI WIXXMRK YT E JMVMRK PMRI FYX ]SY HMHR X
[ERX >EGO XS WLS[ YT XSS IEVP] =SYV TEVXRIV [SYPH GMVGPI EVSYRH XLI MRJIWXIH
^SRI ERH SRP] WXEVX FEVOMRK SR XLI JEV WMHI 8LEX
[SVOIH [MXL E PSX SJ IRKEKIQIRXW ERH MX STIRIH XLI HSSV JSV XLI 0IQQMRK
XEGXMG
(YVMRK XLI (IRZIV TYWL XLIVI [EW E XEPP FYMPHMRK [LIVI E GSYTPI LYRHVIH VIJYKIIW
LEH EGGMHIRXEPP] FIIR PSGOIH MR [MXL XLI MRJIGXMSR ERH [IVI RS[ GSQTPIXIP]
VIERMQEXIH &IJSVI SYV KY]W GSYPH WXSVQ XLI IRXVERGI SRI
48 4L]WMGEP 8VEMRMRK
%-8 %HZERGIH -RHMZMHYEP 8VEMRMRK
;SVPH ;EV >
SJ XLI /W LEH LMW S[R MHIE XS VYR YT XS XLI VSSJ SJ E FYMPHMRK EGVSWW XLI WXVIIX ERH
WXEVX FEVOMRK XS HVE[ >EGO YT SRXS XLI LMKLIV JPSSVW -X [SVOIH PMOI E HVIEQ 8LI
+W QEHI MX YT XS XLI VSSJ WE[ XLIMV TVI] QEHI JSV LMQ ERH [IRX WTMPPMRK SZIV XLI
WMHI %JXIV (IRZIV 0IQQMRK [IRX VMKLX MRXS XLI TPE]FSSO )ZIR XLI MRJERXV]
WXEVXIH YWMRK MX [LIR /W [IVIR X EZEMPEFPI -X [EWR X YRGSQQSR XS WII E KVYRX
WXERHMRK SR XLI VSSJ SJ E FYMPHMRK GEPPMRK SYX XS ER MRJIWXIH FYMPHMRK GPSWI F]
&YX XLI TVMQEV] ERH QSWX GSQQSR QMWWMSR SJ ER] / XIEQ [EW WGSYXMRK FSXL 7'
ERH 064 7' MW 7[IIT ERH 'PIEV NYWX EXXEGLIH XS E VIKYPEV YRMX PMOI GSRZIRXMSREP
[EVJEVI 8LEX W [LIVI XVEMRMRK VIEPP] TEMH SJJ 2SX SRP]
GSYPH XLI] WRMJJ >EGO SYX QMPIW FIJSVI YW FYX XLI WSYRHW XLI] QEHI EP[E]W 8SPH
]SY I\EGXP] [LEX XS I\TIGX =SY GSYPH XIPP IZIV]XLMRK ]SY RIIHIH XS ORS[ F] XLI
TMXGL SJ XLI KVS[P ERH XLI JVIUYIRG] SJ XLI FEVO 7SQIXMQIW [LIR WMPIRGI [EW
VIUYMVIH FSH] PERKYEKI [SVOIH NYWX EW [IPP 8LI EVGL SJ XLI / W FEGO HMI VEMWMRK
SJ HERHIV [EW EPP ]SY RIIHIH XS WII %JXIV E JI[ QMWWMSRW ER] GSQTIXIRX LERHPIV
ERH [I LEH RS SXLIV OMRH GSYPH VIEH LMW TEVXRIV W IZIV] WMKREP 7GSYXW JMRHMRK E
KLSYP LEPJ WYFQIVKIH MR QYH SV PIKPIWW EQSRK XEPP KVEWW WEZIH E PSX SJ PMZIW GER X XIPP ]SY LS[ QER] XMQIW E KVYRX [SYPH XLERO YW TIVWSREPP] JSV WTSXXMRK E
GSRGIEPIH + XLEX QMKLX LEZI XEOIR LMW JSSX SJJ
064 [EW 0SRK 6ERKI 4EXVSP [LIR ]SYV TEVXRIV [SYPH WGSYX XEV FI]SRH ]SYV
PMRIW WSQIXMQIW IZIR XVEZIPMRK JSV HE]W XS VIGSR ER MRJIWXIH EVIE 8LI] [SVI E
WTIGMEP LEVRIWW [MXL E ZMHIS YTPMRO ERH +47 XVEGOIV XLEX KEZI ]SY VIEP XMQI MRXIP
SR XLI I\EGX RYQFIV ERH TSWMXMSR SJ ]SYV XEVKIXW =SY GSYPH SZIVPE] >EGO W
TSWMXMSR SR E TVII\MWXMRK QET GSSVHMREXMRK [LEX ]SYV TEVXRIV WE[ [MXL LMW
TSWMXMSR SR XLI +47 - KYIWW JVSQ E XIGLRMGEP WMHI MX [EW TVIXX] EQE^MRK VIEP
XMQI LEVH MRXIP PMOI [I YWIH XS LEZI FIJSVI XLI [EV 8LI FVEWW PSZIH MX - HMHR X [EW EP[E]W XSS GSRGIVRIH [MXL Q] TEVXRIV - GER X XIPP ]SY LS[ WXVIWWJYP XLEX [EW
XS FI WXERHMRK MR WSQI GSQTYXIV JMPPIH EMV GSRHMXMSRIH VSSQ WEJI GSQJSVXEFPI
ERH XSXEPP] LIPTPIWW 0EXIV LEVRIWW QSHIPW LEH VEHMS YTPMROW WS E LERHPIV GSYPH
VIPE] SVHIVW SV EX PIEWX EFSVX XLI QMWWMSR - RIZIV [SVOIH [MXL XLIQ 8IEQW LEH XS
FI XVEMRIH SR XLSWI JVSQ XLI FIKMRRMRK =SY GSYPHR X KS FEGO ERH VIXVEMR E
WIEWSRIH / =SY GSYPHR X XIEGL ER SPH HSK RI[ XVMGOW 7SVV] FEH NSOI - LIEVH E
PSX
SJ XLSWI JVSQ XLI MRXIP TYOIW WXERHMRK FILMRH XLIQ EW XLI] [EXGLIH XLI HEQR
QSRMXSV QIRXEPP] WXVSOMRK MX XS XLI [SRHIVW SX XLIMV RI[ (EXE 3VMIRXEXMSR %WWIX
8LI] XLSYKLX XLI] [IVI WS [MXX] 6IEP JYR JSV YW XS LEZI (3% EW ER EGVSR]Q
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XLI SJJMGIV GSVTW 3YV HMZMWMSR PSWX JSYV I\TIVMIRGIH PIEHIVW XLVII NYRMSV
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ERH XLI SXLIV PEXIV XLEX RMKLX 8LI XLMVH TPEXSSR PIEHIV GLSWI E QSVI TEWWMZI
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8LI JMVWX FS] GSYPHR X LEZI FIIR SPHIV XLER WIZIRXIIR ,I [EWR X FMXXIR XLEX [SYPH
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79
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MRJIGXIH WSPHMIVW - [IRX XLVSYKL XLI QSXMSRW SJ XIPPMRK XLIQ - [SYPH TVE] JSV XLIMV
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Q] LERH MR +SH W LERH
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WSPHMIVW OMPPMRK XLIQWIPZIW LEH GSWX XLI 0SVH XSS QER] KSSH WSYPW 7YMGMHI [EW E
WMR ERH [I LMW WIVZERXW XLSWI [LS LEH GLSWIR XS FI LMW WLITLIVHW YTSR XLI IEVXL
[IVI XLI SRP] SRIW [LS WLSYPH FIEV XLI GVSWW SJ VIPIEWMRK XVETTIH WSYPW JVSQ
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XLIR XS IZIV] GMZMPMER TVMIWX XLVSYKLSYX 1SXLIV 6YWWME
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W WGM JM QSZMI 6SFF] XLI 6SFSX ERH WLMX -X EPP
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VMKW =SY WII
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XS WTIRH HE]W WSQIXMQIW [IIOW MR E HIGSQTVIWWMSR GLEQFIV ERH MJ JSV WSQI
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FI XLIVI
?,I TEYWIW XS GLIGO LMW MRWXVYQIRXW A
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[LSPI FSH] MR E FYFFPI SJ WYVJEGI TVIWWYVI
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ERH PMJI WYTTSVX
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8LI ZIV] REXYVI SJ ER %(7 XLI JEGX XLEX MX W VIEPP] NYWX E WYMX SJ EVQSV QEOIW MX
MHIEP JSV FPYI ERH FPEGO [EXIV GSQFEX - Q RSX ORSGOMRK WSJX WYMXW ]SY ORS[
WLEVO SV SXLIV QIWL VMKW 8LI] ZI KSX XIR XMQIW XLI QERIYZIV
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- ZI WIIR QIWL HMZIVW
[MXL FVSOIR EVQW FVSOIR VMFW XLVII [MXL FVSOIR RIGOW (VS[RMRK
MJ ]SYV EMV
PMRI [EW TYRGXYVIH SV XLI VIKYPEXSV W VMTTIH SYX SJ ]SYV QSYXL )ZIR MR E LEVH
LIPQIX SR E QIWL PMRIH HV] WYMX EPP XLI] H LEZI XS HS MW LSPH ]SY HS[R PIX ]SYV EMV
VYR SYX - ZI WIIR XSS QER] KY]W KS SYX XLEX [E] SV IPWI XV] XS VEGI JSV XLI WYVJEGI
ERH PIX ER IQFSPMWQ JMRMWL [LEX >EGO WXEVXIH
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7SQIXMQIW IWTIGMEPP] MR XLI FIKMRRMRK FYX MX RIZIV LETTIRIH XS YW 8LIVI [EW RS
VMWO SJ TL]WMGEP HERKIV &SXL ]SYV FSH] ERH ]SYV PMJI WYTTSVX EVI IRGEWIH MR E
GEWX EPYQMRYQ SV LMKL WXVIRKXL GSQTSWMXI WLIPP 1SWX QSHIPW NSMRXW EVI WXIIP SV
XMXERMYQ 2S QEXXIV [LMGL [E] >EGO XYVRIH ]SYV EVQW IZIR MX LI QEREKIH XS KIX E
WSPMH KVMT [LMGL MW LEVH GSRWMHIVMRK LS[ WQSSXL ERH VSYRH IZIV]XLMRK MW MX [EW
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8LI HEVORIWW ERH XLI WXMRO [I LEH EPQSWX RS RMKLX ZMWMSR KSKKPIW NYWX SRI TEMV
TIV TPEXSSR ERH XLEX W MJ ]SY [IVI PYGO] 7TEVI FEXXIVMIW [IVI MR WLSVX WYTTP] JSV
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XLI KEW QEWOW [IVI E
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W[IEX PMOI E TMK QEHI ]SY HIEJ EW [IPP EW FPMRH =SY RIZIV ORI[ [LIVI ]SY [IVI
WXEVMRK XLVSYKL XLEX QMWX] ZMWSV LIEVMRK XLI QYJJPIH ZSMGIW SJ ]SYV WUYEH QEXIW
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MX SJJ XLI GSRHYMXW ERH OIIT QEWWMZI VSPPW [MXL YW XS I\XIRH SYV VERKI -X [EW XLI
SRP] [E] XS OIIT MR GSRXEGX ERH QSWX SJ XLI
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EGGSYRX XLI QSHMJMGEXMSRW XLI WYVZMZSVW LEH QEHI EPP XLI MRXIVGSMZ RIGXMRK XYRRIPW
ERH EPGSZIW XLI LSPIW MR XLI JPSSV XLEX [SYPH WYHHIRP] STIR YT MR JVSRX SJ ]SY
=SY [SYPH PSWI ]SYV [E] EX PIEWX SRGI E HE] WSQI XMQIW QSVI ERH XLIR LEZI XS
XVEGI ]SYV [E] FEGO HS[R XLI GSQQYRMGEXMSRW [MVI GLIGO ]SYV PSGEXMSR SR XLI
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QMRYXIW WSQIXMQIW LSYVW SV IZIR HE]W
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SV IGLSMRK XLVSYKL XLI XYRRIPW 8LI EGSYWXMGW [IVI IZMP XLI] XEYRXIH ]SY 7GVIEQW
ERH QSERW GEQI JVSQ IZIV] HMVIGXMSR =SY RIZIV ORI[ [LIVI XLI] [IVI GSQMRK
JVSQ %X PIEWX [MXL XLI VEHMS ]SY GSYPH XV] QE]FI XS KIX E JM\ SR ]SYV GSQVEHIW
TSWMXMSR -J XLI] [IVIR X TERMGOIH MJ XLI] ORI[ [LIVI XLI] [IVI MJ ]SY ORI[
[LIVI ]SY [IVI
8LI VYRRMRK ]SY HEWL XLVSYKL XLI TEWWEKI[E]W FEWL ]SYV LIEH SR XLI GIMPMRK
GVE[P SR ]SYV LERHW ERH ORIIW TVE]MRK XS XLI :MVKMR [MXL EPP ]SYV QMKLX JSV XLIQ
XS LSPH JSV NYWX E PMXXPI PSRKIV =SY KIX XS XLIMV TSWMXMSR JMRH MX MW XLI [VSRK SRI ER
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PSRK XMQI XS VIEGL XLIQ XLEX ZIRKIERGI QYWX RS[ MRGPYHI ]SYV VIERMQEXIH
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]SY LEH XS FI GEVIJYP -J ]SY QMWWIH MJ XLI FEPP WXVYGO XLI WXSRI MJ XLI WXSRI [EW
HV] MJ ]SY KSX E WTEVO
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WTMOIW EX VMKLX ERKPIW JVSQ IEGL SXLIV
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XST SJ XLI LIEH
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I]IW SV KVEFFMRK JVSQ E WMHI TEWWEKI ]SY HMHR X ORS[ [EW
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GLEMR QEMP SV LIEZ] PIEXLIV
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LIEZ] QIXEP GLEMR PMRO WLMVXW =SY XV] XS JMKLX ]SY EVI EPVIEH] I\LEYWXIH QIR
[SYPH XIEV SJX XLIMV QEWOW KEWTMRK JSV EMV MRLEPMRK XLI WXMRO 1ER] HMIH FIJSVI
]SY GSYPH KIX XLIQ XS XLI WYVJEGI
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GSZIVIH PIEXLIV IEW] XS VIQSZI [LIR RSX MR GSQFEX 8LI] [IVI Q] S[R HIWMKR
;I HMHR X LEZI XLI %QIVMGER FEXXPI YRMJSVQW FYX [I HMH LEZI ]SYV QEVWL GSZIVW
XLI PSRK LMKL [EXIVTVSSJ FSSXW [MXL XLI FMXI TVSSJ JMFIV WI[R MRXS XLI PMRMRK ;I
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VEKMRK XSVVIRX -X [EW EP[E]W [IX 8LIVI [EW VSX FIX[IIR ]SYV JMRKIVW ]SYV XSIW
MR ]SYV GVSXGL 8LI [EXIV [EW YT XS ]SYV EROPIW EPQSWX EPP XLI XMQI WSQIXMQIW YT
XS ]SYV ORIIW SV [EMWX =SY [SYPH FI SR TSMRX [EPOMRK SV GVE[PMRK WSQIXMQIW
[I LEH XS GVE[P MR XLI WXMROMRK JPYMH YT XS SYV IPFS[W %RH WYHHIRP] XLI KVSYRH
[SYPH NYWX JEPP E[E] =SY [SYPH WTPEWL LIEHJMVWX MRXS SRI S_ XLSWI YRQETTIH
LSPIW =SY SRP] LEH E JI[ WIGSRHW XS VMKLX ]SYVWIPJ FIJSVI ]SYV KEW QEWO JPSSHIH
=SY OMGOIH ERH XLVEWLIH ]SYV GSQVEHIW [SYPH KVEF ]SY ERH LEYP JEWX (VS[RMRK
[EW XLI PIEWX SJ ]SYV [SVVMIW 1IR [SYPH FI WTPEWLMRK WXVYKKPMRK XS WXE] EJPSEX
[MXL EPP XLEX LIEZ] KIEV ERH WYHHIRP] XLIMV I]IW [SYPH FYPKI ERH ]SY H LIEV XLIMV
QYJJPIH GVMIW =SY QMKLX JIIP XLI QSQIRX XLI] EXXEGOIH XLI WRET SV XIEV ERH
WYHHIRP] ]SY JEPP SZIV [MXL XLI TSSV FEWXEVH SR XST SJ ]SY -J LI [EWR X [IEVMRK
XLI QEVWL GSZIVW E JSSX MW KSRI XLI [LSPI PIK MJ LI LEH FIIR GVE[PMRK ERH [IRX
MR JEGI JMVWX WSQIXMQIW XLEX JEGI [SYPH FI KSRI
8LSWI [IVI XMQIW [LIR [I GEPPIH E JYPP VIXVIEX XS E HIJIRWMZI TSWMXMSR ERH [EMXIH
JSV XLI 'SYWXIEYW XLI WGYFE HMZIVW XVEMRIH XS [SVO ERH JMKLX WTIGMJMGEPP] MR XLSWI
JPSSHIH XYRRIPW ;MXL SRP] E WIEVGLPMKLX ERH E WLEVO WYMX MJ XLI] [IVI PYGO] XS KIX
SRI ERH EX QSWX X[S LSYVW SJ EMV 8LI] [IVI WYTTSWIH XS [IEV E WEJIX] PMRI FYX
QSWX SJ HMIQ VIJYWIH XS HS WS 8LI PMRIW XIRHIH XS KIX XERKPIH ERH WPS[ YT XLI
HMZIV W TVSKVIWW 8LSWI QIR ERH [SQIR LEH E SRI MR X[IRX] GLERGI SJ WYVZMZEP
XLI PS[IWX VEXMS SJ ER]
FVERGL SJ ER] EVQ] - HSR X GEVI [LEX ER]SRI WE]W -W MX ER] [SRHIV XLI] VIGIMZIH
ER EYXSQEXMG 0IKMSR SJ ,SRSV#
%RH [LEX [EW MX EPP JSV *MJXIIR XLSYWERH HIEH SV QMWWMRK 2SX NYWX XLI 'SYWXIEYW
EPP SJ YW XLI IRXMVI GSVI *MJXIIR XLSYWERH WSYPW MR NYWX XLVII QSRXLW *MJXIIR
XLSYWERH EX E XMQI [LIR XLI [EV [EW [MRHMRK HS[R EPP SZIV XLI [SVPH +S +S
*MKLX *MKLX -X HMHR X LEZI XS FI XLEX [E] ,S[ PSRK HMH MX XEOI XLI )RKPMWL XS
GPIEV EPP SJ 0SRHSR# *MZI ]IEVW XLVII ]IEVW EJXIV XLI [EV [EW SJJMGMEPP] SZIV# 8LI]
[IRX WPS[ ERH WEJI SRI WIGXMSR EX E XMQI PS[ WTIIH PS[ MRXIRWMX] PS[ GEWYEPX]
VEXI 7PS[ ERH WEJI PMOI QSWX QENSV GMXMIW ;L] YW# 8LEX )RKPMWL KIRIVEP [LEX LI
WEMH EFSYX )RSYKL HIEH LIVSIW JSV XLI IRH SJ XMQI
,IVSIW XLEX W [LEX [I [IVI XLEX W [LEX SYV PIEHIVW [ERXIH XLEX W [LEX SYV
TISTPI JIPX XLI] RIIHIH %JXIV EPP XLEX LEW LETTIRIH RSX NYWX MR XLMW [EV FYX MR WS
QER] [EVW FIJSVI %PKIVME -RHSGLMRE XLI 2E^MW ]SY YRHIVWXERH [LEX - EQ
WE]MRK
]SY WII XLI WSVVS[ ERH TMX]# ;I YRHIVWXSSH [LEX XLI %QIVMGER
TVIWMHIRX WEMH EFSYX VIGPEMQMRK SYV GSRJMHIRGI [I YRHIVWXSSH MX QSVI XLER
QSWX ;I RIIHIH LIVSIW RI[ REQIW ERH TPEGIW XS VIWXSVI SYV TVMHI
8LI 3WWYEV] 4SVX 1ELSR 5YEVV] XLI ,SWTMXEP
XLEX [EW SYV WLMRMRK QSQIRX
XLI ,SWTMXEP 8LI 2E^MW LEH FYMPX MX XS LSYWI QIRXEP TEXMIRXW WS XLI PIKIRH KSIW
PIXXMRK XLIQ WXEVZI XS HIEXL FILMRH XLI GSRGVIXI [EPPW (YVMRK SYV [EV MX LEH FIIR
ER MRJMVQEV] JSV XLI VIGIRXP] FMXXIR 0EXIV EW QSVI FIKER XS VIERMQEXI ERH XLI
WYVZMZSVW LYQERMX] JEHIH PMOI XLIMV IPIGXVMG PEQTW XLI] FIKER XLVS[MRK XLI
MRJIGXIH ERH [LS ORS[W [LS IPWI MRXS XLEX YRHIEH ZEYPX %R EHZERGI XIEQ FVSOI
XLVSYKL [MXLSYX VIEPM^MRK [LEX [EW SR XLI SHMIV WMHI 8LI] GSYPH LEZI
[MXLHVE[R FPS[R XLI XYRRIP WIEPIH XLIQ MR EKEMR
3RI WUYEH EKEMRWX XLVII LYRHVIH
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XLIMV VEHMS [IRX WMPIRX ,MW PEWX [SVHW 3R
RI TEWWI TEWX
8LI LMKLIWX JEXEPMX] VEXMS SJ EPP EPPMIH JSVGIW MW WXMPP LSXP] HIFEXIH
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RSX SRI WMKLXMRK LEW FIIR VIGSVHIH XLMW WTVMRK KMZIW IZIV]SRI IZIR QSVI VIEWSR XS
GIPIFVEXI 8SHH ;EMRMS WXERHW MR XLI SYXJMIPH [EMXMRK JSV E LMKL JP] FEPP XLEX LI
GPEMQW [MPP RIZIV GSQI 4IVLETW LI W VMKLX EW RS SRI WIIQW XS
QMRH QI WXERHMRK RI\X XS LMQ A
8LI] GEPPIH MX XLI VSEH XS 2I[ =SVO ERH MX [EW E PSRK PSRK VSEH ;I LEH XLVII
QEMR %VQ] +VSYTW 2SVXL 'IRXIV ERH 7SYXL 8LI KVERH WXVEXIK] [EW XS EHZERGI
EW SRI EGVSWW XLI +VIEX 4PEMRW EGVSWW XLI 1MH[IWX XLIR FVIEO SJJ EX XLI
%TTEPEGLMERW XLI [MRKW W[IITMRK RSVXL ERH WSYXL WLSSX JSV 1EMRI ERH *PSVMHE
XLIR KVMRH EGVSWW XLI GSEWX ERH PMRO YT [MXL %+ 'IRXIV EW XLI] WPSKKIH MX SZIV XLI
QSYRXEMRW -X XSSO XLVII ]IEVW
;L] WS WPS[#
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'EREHE XS %^XPER
2S 1I\MGS MX [EWR X %^XPER ]IX =SY ORS[ [LIR E TPERI
KSIW HS[R LS[ EPP XLIWI JMVIQIR SV [LSIZIV [SYPH GLIGO E JMIPH JSV TMIGIW SJ
[VIGOEKI # 8LI] H EPP KS MR E PMRI VIEP WPS[ QEOMRK WYVI RSX SRI MRGL SJ KVSYRH
[EW QMWWIH 8LEX [EW YW ;I HMHR X WOMT SRI HEQR MRGL FIX[IIR XLI 6SGOMIW ERH
XLI %XPERXMG ;LIRIZIV ]SY WTSXXIH >EGO IMHMIV MR E KVSYT SV NYWX SR LMW S[R E
*%6 YRMX [SYPH LEPX
*%6#
*SVGI %TTVSTVMEXI 6IWTSRWI =SY GSYPHR X WXST PMOI XLI [LSPI %VQ] +VSYT JSV
SRI SV X[S ^SQFMIW % PSX SJ XLI SPHIV +W XLI SRIW MRJIGXIH
IEVP] MR XLI [EV XLI] [IVI WXEVXMRK XS KIX TVIXX] KVSH] EPP HIJPEXIH TEVXW SJ XLIMV
WOYPPW WXEVXMRK XS WLS[ WSQI FSRI TSOMRK XLVSYKL XLI JPIWL 7SQI SJ XLIQ
GSYPHR X IZIR WXERH ER]QSVI ERH XLSWI EVI XLI SRIW ]SY VIEPP] LEH XS [EXGL JSV
8LI] H FI GVE[PMRK SR XLIMV FIPPMIW XS[EVH ]SY SV NYWX XLVEWLMRK JEGIHS[R MR XLI
QYH =SY H LEPX E WIGXMSR E TPEXSSR QE]FI IZIR E GSQTER] HITIRHMRK SR LS[
QER] ]SY IRGSYRXIVIH NYWX IRSYKL XS XEOI IQ HS[R ERH WERMXM^I XLI FEXXPIJMIPH
8LI LSPI ]SYV *%6 YRMX PIJX MR XLI FEXXPI PMRI [EW VITPEGIH F] ER IUYEP JSVGI JVSQ
XLI WIGSRHEV] PMRI E GPMGO ERH E LEPJ FILMRH ]SY 8LEX [E] XLI JVSRX [EW RIZIV
FVSOIR ;I PIETJVSKKIH XLMW [E] EPP XLI [E] EGVSWW XLI GSYRXV] -X [SVOIH RS
HSYFX FYX QER MX XSSO MXW XMQI 2MKLX EPWS TYX XLI FVEOIW SR 3RGI XLI WYR HMTTIH
RS QEXXIV LS[ GSRJMHIRX ]SY JIPX SV LS[ WEXI XLI EVIE WIIQIH XLI WLS[ [EW SZIV
XMPP HE[R XLI RI\X QSVRMRK
%RH XLIVI [EW JSK - HMHR X ORS[ JSK GSYPH FI WS XLMGO XLEX JEV MRPERH - EP[E]W
[ERXIH XS EWO E GPMQEXSPSKMWX SV WSQISRI EFSYX XLEX 8LI [LSPI JVSRX QMKLX KIX
WPEQQIH WSQIXMQIW JSV HE]W .YWX WMXXMRK XLIVI MR ^IVS ZMW MFMPMX] SGGEWMSREPP] SRI
SJ ]SYV /W [SYPH WXEVX FEVOMRK SV E QER HS[R XLI PMRI [SYPH WLSYX 'SRXEGX
=SY H LIEV XLI QSER ERH XLIR XLI WLETIW [SYPH ETTIEV ,EVH IRSYKL NYWX WXERHMRK
WXMPP ERH [EMXMRK JSV XLIQ - WE[ E QSZMI SRGI XLMW &&' HSGYQIRXEV] EFSYX LS[
FIGEYWI HMI 9/ [EW WS JSKK] XLI &VMXMWL EVQ] [SYPH RIZIV WXST 8LIVI [EW E
WGIRI [LIVI XLI GEQIVEW GEYKLX E VIEP JMVIJMKLX NYWX WTEVOW JVSQ XLIMV [IETSRW
ERH LE^] WMPLSYIXXIW KSMRK HS[R 8LI] HMHR X RIIH XLEX I\XVE GVIIT] WSYRHXVEGO -X
JVIEOIH QI SYX NYWX XS [EXGL
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XLI 1I\MGERW ERH 'ERYGOW 2IMXLIV EVQ] LEH XLI QERTS[IV XS PMFIVEXI XLIMV IRXMVI
GSYRXV] 8LI HIEP [EW XLEX XLI] H OIIT SYV FSVHIVW GPIEV [LMPI [I KIX SYV LSYWI MR
SVHIV 3RGI XLI 9 7 [EW WIGYVI [I H KMZI XLIQ IZIV]XLMRK XLI] RIIH 8LEX [EW
XLI WXEVX SJ XLI 92 QYPXMREXMSREP JSVGI FYX - [EW HMWGLEVKIH PSRK FIJSVI XLSWI
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[ERRE XEPO EFSYX WTIIH FYQTW XV] YVFER GSQFEX
8LI WXVEXIK] [EW EP[E]W XS WYVVSYRH XLI XEVKIX EVIE ;I H WIX YT WIQMTIVQERIRX
HIJIRWIW VIGSR [MXL IZIV]XLMRK JVSQ WEXIPPMXIW XS WRMJJIV /W HS [LEXIZIV [I GSYPH
XS GEPP >EGO SYX ERH KS MR SRP] EJXIV [I [IVI WYVI RS QSVI SJ XLIQ [IVI GSQMRK
7QEVX ERH WEJI ERH VIPEXMZIP] IEW] =IEL VMKLX
%W JEV EW WYVVSYRHMRK XLI EVIE WSQISRI [ERRE XIPP QI [LIVI XLEX EVIE EGXYEPP]
FIKMRW# 'MXMIW [IVIR X GMXMIW ER]QSVI ]SY ORS[ XLI] NYWX KVI[ SYX MRXS XLMW
WYFYVFER WTVE[P 1VW 6YM^ SRI SJ SYV QIHMGW GEPPIH MX
MR JMPP 7LI [EW MR VIEP IWXEXI FIJSVI XLI [EV ERH I\TPEMRIH XLEX XLI LSXXIWX
TVSTIVXMIW [IVI EP[E]W XLI PERH FIX[IIR X[S I\MWXMRK GMXMIW *VIEOMR MR JMPP [I
EPP PIEVRIH XS LEXI XLEX XIVQ *SV YW MX QIERX GPIEVMRK FPSGO EJXIV FPSGO SJ FYVFPERH
FIJSVI [I GSYPH IZIR XLMRO SJ IWXEFPMWLMRK E UYEVERXMRI TIVMQIXIV *EWX JSSH
NSMRXW WLSTTMRK GIRXIVW IRHPIWW QMPIW SJ GLIET GSSOMI GYXXIV LSYWMRK
)ZIR MR [MRXIV MX W RSX PMOI IZIV]XLMRK [EW WEJI ERH WRYKKP] - [EW MR %VQ] +VSYT
2SVXL %X JMVWX - XLSYKLX [I [IVI KSPHIR ]SY ORS[ 7M\ QSRXLW SYX SJ XLI ]IEV [SYPHR X LEZI XS WII E PMZI + IMKLX QSRXLW EGXYEPP] KMZIR [LEX [EVXMQI [IEXLIV
[EW PMOI - XLSYKLX LI] SRGI XLI XIQT HVSTW [I VI PMXXPI QSVI XLER KEVFEKI QIR
JMRH IQ 0SFS IQ QEVO IQ JSV FYVMEP SRGI XLI KVSYRH FIKMRW XS XLE[ RS
TVSFPIQ &YX - WLSYPH FI 0SFS H JSV XLMROMRK XLEX >EGO [EW XLI SRP] FEH KY] SYX
XLIVI
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6IGPEQEXMSR YRMXW TVIXX] QYGL NYWX KPSVMJMIH ERMQEP GSRXVSP 8LI] H HS XLIMV FIWX
XS HEVX ER] UYMWPMRKW [I GEQI EGVSWW XMI IQ HS[R WLMT IQ XS VILEFMPMXEXMSR
GPMRMGW FEGO [LIR [I XLSYKLX [I GSYPH VILEFMPMXEXI XLIQ
*IVEPW [IVI E QYGL QSVI HERKIVSYW XLVIEX % PSX S_ XLIQ [IVIR X OMHW ER]QSVI
WSQI [IVI XIIREKIVW WSQI JYPP KVS[R 8LI] [IVI JEWX WQEVX ERH MJ XLI] GLSWI
JMKLX MRWXIEH SJ JPMKLX XLI] GSYPH VIEPP] QIWW YT ]SYV HE] 3J GSYVWI ,6 [SYPH
EP[E]W XV] ERH HEVX XLIQ ERH SJ GSYVWI XLEX HMHR X EP[E]W [SVO ;LIR E X[S
LYRHVIH TSYRH JIVEP FYPP MW GLEVKMRK FEPPW SYX JSV ]SYV EWW E GSYTPI ''W SJ XVERU
EMR X KSRRE HVST LMQ FIJSVI LI LMXW LSQI % PSX SJ ,6W KSX TVIXX] FEHP] WQEWLIH
YT E JI[ LEH XS FI
XEKKIH ERH FEKKIH 8LI FVEWW LEH XS WXIT MR ERH EWWMKR E WUYEH SJ KVYRXW JSV
IWGSVX -J E HEVX HMHR X WXST E JIVEP [I WYVI EW LIPP HMH 2SXLMRK WGVIEQW EW LMKL EW
E JIVEP [MXL E 4-) VSYRH FYVRMRK MR LMW KYX 8LI ,6 TYOIW LEH E VIEP TVSFPIQ [MXL
XLEX 8LI] [IVI EPP ZSPYRXIIVW EPP WXMGOMRK XS XLMW GSHI XLEX LYQER PMJI ER]
LYQER W PMJI [EW [SVXL XV]MRK XS WEZI - KYIWW LMWXSV] WSVXE FEGOIH XLIQ YT RS[
]SY ORS[ WIIMRK EPP XLSWI TISTPI XLEX XLI] QEREKIH XS VILEFMPMXEXI EPP XLI SRIW
[I NYWX [SYPHE WLSX SR WMKLX -J XLI] LEH LEH XLI VIWSYVGIW XLI] QMKLX LEZI FIIR
EFPI XS HS XLI WEQI JSV ERMQEPW
1ER JIVEP TEGOW XLEX JVIEOIH QI SYX QSVI XLER ER]XLMRK IPWI - Q RSX NYWX XEPOMRK
HSKW (SKW ]SY ORI[ LS[ XS HIEP [MXL (SKW EP[E]W XIPIKVETLIH XLIMV EXXEGOW - Q
XEPOMRK *PMIW * 0MSRW GEXW PMOI TEVX QSYRXEMR 0MSR TEVX MGI EKI WEFIVJYGO
1E]FI XLI] [IVI QSYRXEMR PMSRW WSQI WYVI PSSOIH PMOI XLIQ SV QE]FI NYWX XLI
WTE[R S_ LSYWI GEXW XLEX LEH XS FI WYTIV FEHEWW NYWX XS QEOI MX - ZI LIEVH XLEX XLI]
KVI[ FMKKIV YT RSVXL WSQI PE[ SJ REXYVI SV IZSPYXMSR - HSR X VIEPP] KIX XLI [LSPI
IGSPSK] XLMRK RSX TEWX E JI[ TVI[EV REXYVI WLS[W - LIEV MX W FIGEYWI VEXW [IVI
PMOI XLI RI[ GS[W JEWX ERH WQEVX IRSYKL XS KIX E[E] JVSQ >EGO PMZMR SR
GSVTWIW FVIIHMRK F] XLI QMPPMSRW MR XVIIW ERH VYMRW 8LI] H KSXXIR TVIXX] FEHEWW
XLIQWIPZIW WS ER]XLMRK XSYKL IRSYKL XS LYRX XLIQ LEW XS FI E [LSPI PSX FEHHIV
8LEX W ER * PMSR JSV ]SY EFSYX X[MGI XLI WM^I SJ E TVI[EV TYJXFEPP XIIXL GPE[W ERH
E VIEP VIEP NSRIWMRK JSV [EVQ FPSSH
8LEX QYWX LEZI FIIR E LE^EVH JSV XLI WRMJJIV HSKW
%VI ]SY OMHHMRK# 8LI] PSZIH MX IZIR HMI PMXXPI HEGLQYXXW QEHI IQ JIIP PMOI HSKW EKEMR
- Q GEPOMRK EFSYX YW KIXXMRK NYQTIH JVSQ E XVII PMQF SV E VSSJ 8LI] HMHR X GLEVKI ]SY
PMOI * LSYRHW XLI] NYWX [EMXIH XSSO XLIMV W[IIX XMQI YRXMP ]SY [IVI XSS GPSWI XS VEMWI E
[IETSR
4VSRSYRGIH JPMIW QEMRP] FIGEYWI XLIMV TSYRGMRK EXXEGOW KEZI XLI MPPYWMSR SJ JPMKLX
%X TVIWIRX RS WGMIRXMJMG HEXE I\MWX XS WYFWXERXMEXI XLI ETTPMGEXMSR SJ &IVKQERR W 6YPI
HYVMRK XLI [EV
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3YXWMHI SJ 1MRRIETSPMW Q] WUYEH [EW GPIEVMRK E WXVMT QEPP - [EW WXITTMRK XLVSYKL XLI
[MRHS[ SJ E 7XEVFYGOW ERH WYHHIRP] XLVII SJ XLIQ PIET EX QI JVSQ FILMRH XLI GSYRXIV
8LI] ORSGO QI SZIV WXEVX XIEVMRK EX Q] EVQW Q] JEGI ,S[ HS ]SY XLMRO - KSX XLMW#
?,I VIJIVW XS XLI WGEV SR LMW GLIIO A
- KYIWW XLI SRP] VIEP GEWYEPX] XLEX HE] [EW Q] WLSVXW &IX[IIR XLI FMXI TVSSJ &(9W ERH
FSH] EVQSV [I H WXEVXIH [IEVMRK XLI ZIWX XLI LIPQIX
- LEHR X [SVR E LEVH GSZIV MR WS PSRK ]SY JSVKIX LS[ YRGSQJSVXEFPI MX MW [LIR
]SY VI YWIH XS KSMRK WSJX XST
(MH JIVEPW JIVEP TISTPI XLEX MW ORS[ LS[ XS YWI JMVIEVQW#
8LI] HMHR X ORS[ LS[ XS HS ER]XLMRK LYQER XLEX W [L] XLI] [IVI JIVEPW 2S XLI
FSH] EVQSV [EW JSV TVSXIGXMSR EKEMRWX WSQI SJ XLI VIKYPEV TISTPI [I JSYRH - Q
RSX XEPOMRK SVKERM^IH VIFIPW NYWX XLI SHH 0E13) 0EWX 1ER SR )EVXL 8LIVI [EW
EP[E]W SRI SV X[S MR IZIV] XS[R WSQI HYHI SV GLMGO [LS QEREKIH XS WYVZMZI VIEH WSQI[LIVI XLEX XLI 9RMXIH 7XEXIW LEH XLI LMKLIWX RYQFIV SJ XLIQ MR XLI
[SVPH WSQIXLMRK EFSYX SYV MRHMZMHYEPMWXMG REXYVI SV WSQIXLMRK 8LI] LEHR X WIIR
VIEP TISTPI MR WS PSRK E PSX SJ XLI MRMXMEP WLSSXMRK [EW NYWX EGGMHIRXEP SV VIJPI\
1SWX SJ XLI XMQI [I QEREKIH XS XEPO XLIQ HS[R 8LSWI [I EGXYEPP] GEPPIH 6'W
6SFMRWSR 'VYWSIW XLEX [EW XLI TSPMXI XIVQ JSV XLI SRIW [LS [IVI GSSP
8LI SRIW [I GEPPIH 0E13)W XLSWI [IVI XLI SRIW [LS [IVI E PMXXPI XSS YWIH XS
FIMRK OMRK /MRK SJ [LEX - HSR X ORS[ +W ERH UYMWPMRKW ERH GVE^] * 'VMXXIVW FYX KYIWW MR XLIMV QMRH XLI] [IVI PMZMRK XLI KSSH PMJI ERH LIVI [I [IVI XS XEOI MX EPP
E[E] 8LEX W LS[ - KSX REMPIH
;I [IVI GPSWMRK SR HMI 7IEVW 8S[IV MR 'LMGEKS 'LMGEKS XLEX [EW IRSYKL
RMKLXQEVIW JSV XLVII PMJIXMQIW -X [EW XLI QMHHPI SJ [MRXIV [MRH [LMTTMRK SJJ XLI
PEOI WS LEVH ]SY GSYPH FEVIP] WXERH ERH WYHHIRP] - JIPX
0E13) TVSRSYRGIH 0XV] QSL [MXL E WMPIRX I
8LSV W LEQQIV WQEWL QI MR XLI LIEH 7PYK JVSQ E LMKL TS[IVIH LYRXMRK VMJPI RIZIV GSQTPEMRIH EFSYX SYV LEVH GSZIVW ER]QSVI EJXIV XLEX 8LI KERK MR XLI XS[IV
XLI] LEH XLIMV PMXXPI OMRKHSQ ERH XLI] [IVIR X KMZMRK MX YT JSV ER]SRI 8LEX [EW
SRI SJ XLI JI[ XMQIW [I [IRX JYPP GSRZIRX 7%;W REHIW XLEX W [LIR XLI &VEHPI]W
WXEVXIH QEOMRK E GSQIFEGO
%JXIV 'LMGEKS XLI FVEWW ORI[ [I [IVI RS[ MR E JYPP QYPXMXLVIEX IRZM VSRQIRX -X
[EW FEGO XS LEVH GSZIVW ERH FSH] EVQSV IZIR MR WYQQIV 8LEROW ;MRH] 'MX]
)EGL WUYEH [EW MWWYIH TEQTLPIXW [MXL XLI 8LVIEX 4]VEQMH
-X [EW VEROIH EGGSVHMRK XS TVSFEFMPMX] RSX PIXLEPMX] >EGO EX XLI FSXXSQ XLIR
* 'VXXXIVW JIVEPW UYMWPMRKW ERH JMREPP] 0E13)W - ORS[ E PSX SJ KY]W JVSQ %+
7SYXL PMOI XS FMXGL EFSYX LS[ XLI] EP[E]W LEH MX XSYKLIV SR XLIMV IRH GEYWI JSV
YW [MRXIV XSSO GEVI SJ >EGO W [LSPI XLVIEX PIZIP =IEL WYVI ERH VITPEGIH MX [MXL
ERSXLIV SRI [MRXIV
;LEX HS XLI] WE] HMI EZIVEKI XIQTIVEXYVI W HVSTTIH XIR HIKVIIW JMJXIIR MR WSQI
EVIEW# =IEL [I LEH MX VIEP IEW] YT XS SYV EWW MR KVE] WRS[ ORS[MRK XLEX JSV
IZIV] JMZI >EGOWMGPIW ]SY GVEGOIH XLIVI H FI EX PIEWX EW QER] YT ERH EX IQ EX JMVWX
XLE[ %X PIEWX XLI KY]W HS[R WSYXL ORI[ XLEX SRGI XLI] W[ITX ER EVIE MX WXE]IH
W[ITX 8LI] HMHR X LEZI XS [SVV] EFSYX VIEV EVIE EXXEGOW PMOI YW ;I W[ITX IZIV]
EVIE EX PIEWX XLVII XMQIW ;I YWIH IZIV]XLMRK JVSQ VEQVSHW ERH WRMJJIV /W XS LMKL
XIGL KVSYRH VEHEV 3ZIV ERH SZIV EKEMR ERH EPP SJ XLMW MR XLI HIEH SJ [MRXIV ;I
PSWX QSVI KY]W XS JVSWXFMXI XLER XS ER]XLMRK IPWI %RH WXMPP IZIV] WTVMRK ]SY ORI[
]SY NYWX ORI[
MX H FI PMOI SL WLMX LIVI [I KS EKEMR - QIER IZIR XSHE] [MXL
EPP XLI W[IITW ERH GMZMPMER ZSPYRXIIV KVSYTW WTVMRK W PMOI [MRXIV YWIH XS FI
REXYVI PIIVMRK YW ORS[ XLI KSSH PMJI W SZIV JSV RS[
8IPP QI EFSYX PMFIVEXMRK XLI MWSPEXIH ^SRIW
%P[E]W E LEVH JMKLX IZIV] WMRKPI SRI 6IQIQFIV XLIWI ^SRIW [IVI WXMPP YRHIV
WMIKI LYRHVIHW QE]FI IZIR XLSYWERHW 8LI TISTPI LSPIH YT MR XLI
*MKYVIW SR [EVXMQI [IEXLIV TEXXIVRW LEZI ]IX XS FI SJJMGMEPP] HIXIVQMRIH
;SVPH ;EV >
X[MR JSVXW SJ 'SQIVMGE 4EVO *SVH *MIPH XLI] QYWX LEZI LEH E GSQFMRIH QSEX
XLEX W [LEX [I GEPPIH XLIQ QSEXW SJ EX PIEWX E QMPPMSR +W 8LEX [EW E XLVII HE]
WPYKJIWX QEHI ,STI PSSO PMOI E QMRSV WOMVQMWL 8LEX [EW XLI SRP] XMQI - IZIV
VIEPP] XLSYKLX [I [IVI KSRRE FI SZIVVYR 8LI] TMPIH YT WS LMKL - XLSYKLX [I H FI
FYVMIH PMXIVEPP] MR E PERHWPMHI SJ GSVTWIW &EXXPIW PMOI XLEX XLI] H PIEZI ]SY WS
JVMIH NYWX [EWXIH FSH] ERH QMRH =SY H [ERX XS WPIIT RSXLMRK QSVI RSX IEX SV
FEXLI SV IZIR JYGO =SY H NYWX [ERX XS JMRH WSQITPEGI [EVQ ERH HV] GPSWI ]SYV
I]IW JSVKIX IZIV] XLMRK
;LEX [IVI XLI VIEGXMSRW SJ XLI TISTPI [LS ]SY PMFIVEXIH#
/MRH SJ E QM\ 8LI QMPMXEV] ^SRIW XLEX [EW TVIXX] PS[ OI] % PSX SJ JSVQEP
GIVIQSRMIW VEMWMRK ERH PS[IVMRK SJ JPEKW - VIPMIZI ]SY WMV - WXERH VIPMIZIH WLMX
PMOI XLEX 8LIVI [EW EPWS E PMXXPI FMX SJ [MIRMI [EKKMRK =SY ORS[ [I HMHR X RIIH
ER] VIWGYMRK ERH EPP - YRHIVWXERH )ZIV] KVYRX [ERXW XS FI XLI SRI VMHMRK SZIV
XLI LMPP RS SRI PMOIW XS FI XLI SRI MR XLI JSVX 7YVI ]SY HMHR X RIIH VIWGYMRK
FYHH]
7SQIXMQIW MX [EW XVYI 0MOI XLI ^SSQMIW SYXWMHI SJ 3QELE 8LI] [IVI E WXVEXIKMG
LYF JSV EMVHVSTW VIKYPEV JPMKLXW EPQSWX SR XLI LSYV 8LI] [IVI EGXYEPP] PMZMRK
FIXXIV XLER YW JVIWL GLS[ LSX WLS[IVW WSJX FIHW -X EPQSWX JIPX PMOI [I [IVI FIMRK
VIWGYIH 3R XLI SXLIV LERH ]SY LEH XLI NEVLIEHW EX 6SGO -WPERH 8LI] [SYPHR X PIX
SR LS[ VSYKL XLI] LEH MX ERH XLEX [EW GSSP [MXL YW *SV [LEX XLI] [IRX XLVSYKL
FVEKKMRK VMKLXW [EW XLI PIEWX [I GSYPH KMZI XLIQ 2IZIV QIX ER] SJ XLIQ
TIVWSREPP] FYX - ZI LIEVH XLI WXSVMIW
;LEX EFSYX XLI GMZMPMER ^SRIW#
(MJJIVIRX WXSV] IRXMVIP] ;I [IVI WS XLI WLMX 8LI] H FI GLIIVMRK ERH WLSYXMRK -X
[EW PMOI [LEX ]SY H XLMRO [EV [EW WYTTSWIH XS FI XLSWI SPH FPEGO ERH [LMXIW SJ
+-W QEVGLMRK MRXS 4EVMW SV [LIVIZIV ;I [IVI VSGO WXEVW - KSX QSVI
[IPP MJ
XLIVI W E FYRGL SJ PMXXPI HYHIW FIX[IIR LIVI ERH XLI ,IVS 'MX] XLEX LETTIR XS PSSO
PMOI QI
?0EYKLW A
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=IEL - KYIWW 1E]FI RSX EPP XLI XMQI FYX XLIVI H FI XLMW SRI TIVWSR XLMW ERKV]
JEGI MR XLI GVS[H WGVIEQMRK WLMX EX ]SY ;LEX XLI JYGO XSSO ]SY WS PSRK# 1]
LYWFERH HMIH X[S [IIOW EKS 1] QSXLIV HMIH [EMXMRK JSV ]SY ;I PSWX LEPJ
SYV TISTPI PEWX WYQQIV ;LIVI [IVI ]SY [LIR [I RIIHIH ]SY# 4ISTPI LSPHMRK
YT TLSXSW JEGIW ;LIR [I QEVGLIH MRXS .ERIWZMPPI ;MWGSRWMR WSQISRI [EW
LSPHMRK YT E WMKR [MXL E TMGXYVI SJ E WQMPMRK PMXXPI KMVP 8LI [SVHW EFSZI MX VIEH
&IXXIV PEXI XLER RIZIV# ,I KSX FIEX HS[R F] LMW S[R TISTPI XLI] WLSYPHR X LEZI
HSRI XLEX 8LEX W XLI OMRH SJ WLMX [I WE[ WLMX XLEX OIITW ]SY E[EOI [LIR ]SY
LEZIR X WPITX MR JMZI RMKLXW
6EVIP] PMOI FPYI QSSR VEVIP] [I H IRXIV E ^SRI [LIVI [I [IVI XSXEPP] RSX
[IPGSQI -R :EPPI] 'MX] 2SVXL (EOSXE XLI] [IVI PMOI *YGO ]SY EVQ] =SY VER
SYX SR YW [I HSR X RIIH ]SY
;EW XLEX E WIGIWWMSRMWX ^SRI#
3L RS EX PIEWX XLIWI TISTPI PIX YW MR 8LI 6IFW SRP] [IPGSQIH ]SY [MXL KYRWLSXW
- RIZIV KSX GPSWI XS ER] SJ HMSWI ^SRIW 8LI FVEWW LEH WTIGMEP YRMXW XSV 6IFW - WE[
XLIQ SR XLI VSEH SRGI LIEHMRK XS[EVH XLI &PEGO ,MPPW 8LEX [EW XLI JMVWX XMQI
WMRGI GVSWWMRK XLI 6SGOMIW XLEX - IZIV WE[ XEROW &EH JIIPMRK ]SY ORI[ LS[ XLEX
[EW KSRRE IRH
8LIVI W FIIR E PSX SJ WXSVMIW EFSYX UYIWXMSREFPI WYVZMZEP QIXLSHW YWIH F] GIVXEMR
MWSPEXIH ^SRIW
=IEL WS# %WO XLIQ EFSYX MX (MH ]SY WII ER]#
2STI ERH - HMHR X [ERX XS 4ISTPI XVMIH XS XIPP QI EFSYX MX TISTPI [I PMFIVEXIH
8LI] [IVI WS [SYRH YT MRWMHI XLI] NYWX [ERXIH XS KIX MX SJJ XLIMV GLIWXW =SY
ORS[ [LEX - YWIH XS WE] XS XLIQ /IIT MX SR ]SYV GLIWX ]SYV [EV W SZIV - HMHR X
RIIH ER] QSVI VSGOW MR Q] VYGO ]SY ORS[#
;SVPH ;EV >
;LEX EFSYX EJXIV[EVH# (MH ]SY XEPO XS ER] SJ XLSWI TISTPI#
=IEL ERH - VIEH E PSX EFSYX XLI XVMEPW
,S[ HMH XLI] QEOI ]SY JIIP#
7LMX - HSR X ORS[ ;LS EQ - XS NYHKI XLSWI TISTPI# - [EWR X XLIVI - HMHR X LEZI XS
HIEP [MXL XLEX 8LMW GSRZIVWEXMSR [I VI LEZMRK RS[ XLMW UYIWXMSR SJ [LEX MJ HMHR X LEZI XMQI JSV XLEX FEGO XLIR - WXMPP LEH E NSF
XS HS
- ORS[ LMWXSVMERW PMOI XS XEPO EFSYX LS[ XLI 9 7 %VQZ LEH WYGL E PS[ GEWYEPX]
VEXI HYVMRK XLI EHZERGI 0S[ EW MR GSQTEVIH XS SXLIV GSYRXVMIW 'LMRE SV QE]FI
XLI 6YWWOMIW 0S[ EW MR SRP] GSYRXMRK XLI GEWYEPXMIW GEYWIH F] >EGO 8LIVI [IVI
E QMPPMSR [E]W XS KIX MX SR XLEX VSEH ERH SZIV X[S XLMVHW [IVIR X SR XLEX T]VEQMH
7MGORIWW [EW E FMK SRI XLI OMRHW SJ HMWIEWIW XLEX [IVI WYTTSWIH XS FI KSRI PMOI
MR XLI (EVO %KIW SV WSQIXLMRK =IEL [I XSSO SYV TMPPW LEH SYV WLSXW EXI [IPP
ERH LEH VIKYPEV GLIGOYTW FYX XLIVI [EW NYWX WS QYGL WLMX IZIV][LIVI MR XLI HMVX
XLI [EXIV MR XLI VEMR ERH XLI EMV [I FVIEXLIH )ZIV] XMQI [I IRXIVIH E GMX] SV
PMFIVEXIH E ^SRI EX PIEWX SRI KY] [SYPH FI KSRI MJ RSX HIEH XLIR VIQSZIH JSV
UYEVERXMRI -R (IXVSMX [I PSWX E [LSPI TPEXSSR XS 7TERMWL JPY 8LI FVEWW VIEPP]
JVIEOIH SR XLEX SRI UYEVERXMRIH XLI [LSPI FEXXEPMSR JSV X[S [IIOW
8LIR XLIVI [IVI QMRIW ERH FSSF] XVETW WSQI GMZMPMER WSQI PEMH HYVMRK SYV
FYKSYX [IWX 1EHI E PSX SJ WIRWI FEGO XLIR NYWX WIIH QMPI EJXIV QMPI ERH [EMX JSV
>EGO XS FPS[ LMQWIPJ YT 3RP] TVSFPIQ MW QMRIW HSR X [SVO XLEX [E] 8LI] HSR X
FPS[ YT E LYQER FSH] XLI] XEOI SJJ E PIK SV EROPI SV XLI JEQMP] NI[IPW 8LEX W
[LEX XLI] VI HIWMKRIH JSV RSX XS OMPP TISTPI FYX XS [SYRH IQ WS XLI EVQ] [MPP
WTIRH ZEPYEFPI VIWSYVGIW OIITMRK XLIQ EPMZI ERH XLIR WIRH IQ LSQI MR E
[LIIPGLEMV WS 1E ERH 4E 'MZMPMER GER FI VIQMRHIH IZIV] XMQI XLI] WII IQ XLEX
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TPEGI XS WIXXPI HS[R ,I WEMH XLEX %QIVMGERW EVI XLI SRP] TISTPI LI W IZIV QIX [LS
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PIKEP VIEWSRWA ,I [EW HSMRK LMW YWYEP XLMRK JEVX NSOIW ERH MRWYPXW ERH EHSPIWGIRX
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VET - GER WII [L] MX XSSO WS PSRK JSV 'LMRE XS JMREPP] IQFVEGI MX ERH [L] 6YWWME
NYWX WEMH JYGO MX ERH [IRX FEGO XS [LEXIZIV XLI] GEPP XLIMV W]WXIQ RS[ 2MGI XS
FI EFPI XS WE] ,I] HSR X PSSO EX QI MX W RSX Q] JEYPX ;IPP MX MW -X MW Q] JEYPX
ERH XLI JEYPX SJ IZIV]SRI SJ Q] KIRIVEXMSR
?7LI PSSOW HS[R EX XLI GLMPHVIR
- [SRHIV [LEX JYXYVI KIRIVEXMSRW [MPP WE] EFSYX YW 1] KVERHTEVIRXW WYJJIVIH
XLVSYKL XLI (ITVIWWMSR ;SVPH ;EV -- XLIR GEQI LSQI XS FYMPH XLI KVIEXIWX
QMHHPI GPEWW MR LYQER LMWXSV] 0SVH ORS[W XLI] [IVIR X TIVJIGX FYX XLI] WYVI
GEQI GPSWIWX XS XLI %QIVMGER HVIEQ 8LIR Q] TEVIRXW KIMZ IVEXMSR GEQI EPSRK
ERH JYGOIH MX EPP YT XLI FEF] FSSQIVW XLI QI KIR IVEXMSR %RH XLIR ]SY KSX YW
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QIREGI MR XLI JMVWX TPEGI %X PIEWX [I VI GPIERMRK YT SYV S[R QIWW ERH QE]FI
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WYQQIV 8LI] HSR X ORS[ XS LI EJVEMH ERH XLEX MW XLI KVIEXIWX KMJX XLI SRP] KMJX [I
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[I [MPP EKEMR 'LMRE ERH XLI [SVPH - HSR X VIEPP] FIPMIZI MR ER EJXIVPMJI XLI SPH
VIZSPYXMSREV] XS XLI IRH FYX MJ XLIVI MW - GER MQEKMRI Q] SPH GSQVEHI +Y PEYKLMRK
HS[R EX QI [LIR - WE] [MXL EPP LSRIWX] XLEX IZIV]XLMRK W KSMRK XS FI EPP VMKLX
;IREXGLII ;EWLMRKXSR 97%
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- Q RSX KSMRK XS WE] XLI [EV [EW E KSSH XLMRK 4MR RSX XLEX QYGL SJ E WMGO JYGO
FYX ]SY ZI KSX XS EHQMX XLEX MX HMH FVMRK TISTPI XSKIXLIV 1] TEVIRXW RIZIV WXSTTIH
XEPOMRK EFSYX LS[ QYGL XLI] QMWWIH XLI WIRWI SJ GSQQYRMX] FEGO MR 4EOMWXER
8LI] RIZIV GEPOIH XS XLIMV %QIVMGER RIMKLFSVW RIZIV MRZMXIH XLIQ SZIV FEVIP]
ORI[ XLIMV REQIW YRPIWW MX [EW XS GSQTPEMR EFSYX PSYH QYWMG SV E FEVOMRK HSK
'ER X WE] XLEX W XLI OMRH SJ [SVPH [I PMZI MR RS[ %RH MX W RSX NYWX XLI
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XS EPP SJ YW LEZI XLMW TS[IVJYP WLEVIH I\TIVMIRGI - [IRX SR E GVYMWI X[S ]IEVW
EKS XLI 4ER 4EGMJMG 0MRI EGVSWW XLI MWPERHW ;I LEH TISTPI JVSQ IZIV][LIVI ERH
IZIR XLSYKL XLI HIXEMPW QMKLX LEZI FIIR HMJJIVIRX XLI WXSVMIW XLIQWIPZIW [IVI EPP
TVIXX] QYGL XLI WEQI - ORS[ - GSQI SJJ EW E PMXXPI XSS STXMQMWXMG FIGEYWI - Q WYVI
HMEX EW WSSR EW XLMRKW VIEPP] KIX FEGO XS RSVQEP SRGI SYV OMHW SV
KVERHOMHW KVS[ YT MR E TIEGIJYP ERH GSQJSVXEFPI [SVPH XLI] PP TVSFEFP] KS VMKLX
FEGO XS FIMRK EW WIPJMWL ERH REVVS[ QMRHIH ERH KIRIVEPP] WLMXX] XS SRI ERSHMIV EW
[I [IVI &YX XLIR EKEMR GER [LEX [I EPP [IRX XLVSYKL VIEPP] NYWX KS E[E]# - SRGI
LIEVH ER %JVMGER TVSZIVF 3RI GERRSX GVSWW E VMZIV [MXLSYX KIXXMRK [IX - H PMOI
XS FIPMIZI XLEX
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HE] 0EWX [IIO [I LEH E FEGLIPSV TEVX] JSV SRI SJ XLI ]SYRK KY]W SR XLI FPSGO
;I FSVVS[IH XLI SRP] [SVOMRK (:( TPE]IV ERH E JI[ TVI[EV WOMR JPMGOW 8LIVI
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SJ XLMW TIEVP KVE] &1; > GSRZIVXMFPI ERH EPP - GSYOP XLMRO [EW ;S[ XLI] WYVI
HSR X QEOI GEVW PMOI XLEX ER]QSVI
8ESW 2I[ 1I\MGS 97%
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3J EPP XLI NSFW - ZI HSRI FIMRK E QSRI] GST [EW FIWX ;LIR XLI RI[ TVIWMHIRX
EWOIH QI XS WXIT FEGO MRXS Q] VSPI EW 7)' GLEMVQER - TVEGXM GEPP] OMWWIH LIV SR
XLI WTSX - Q WYVI NYWX PMOI Q] HE]W EX (I7X6IW - SRP] LEZI XLI NSF FIGEYWI RS SRI
IPWI [ERXW MX 8LIVI W WXMPP WS QER] GLEPPIRKIW ELIEH WXMPP WS QYGL SJ XLI GSYRXV]
SR XLI XYVRMT WXERHEVH +IXXMRK TISTPI E[E] JVSQ FEVXIV ERH XS XVYWX XLI
%QIVMGER HSPPEV EKEMR
RSX IEW] 8LI 'YFER TIWS MW WXMPP OMRK ERH WS QER] SJ
SYV QSVI EJJPYIRX GMXM^IRW WXMPP LEZI XLIMV FERO EGGSYRXW MR ,EZERE
.YWX XV]MRK XS WSPZI XLI WYVTPYW FMPP HMPIQQE MW IRSYKL JSV ER] EHQMRMWXVEXMSR 7S
QYGL GEWL [EW WGSSTIH YT EJXIV XLI [EV MR EFERHSRIH ZEYPXW LSYWIW SR HIEH
FSHMIW ,S[ HS ]SY XIPP XLSWI PSSXIVW ETEVX JVSQ XLI TISTPI [LS ZI EGXYEPP] OITX
XLIMV LEVH IEVRIH KVIIRFEGOW LMHHIR IWTIGMEPP] [LIR VIGSVHW SJ S[RIVWLMT EVI
EFSYX EW VEVI EW TIXVSPIYQ# 8LEX W [L] FIMRK E QSRI] GST MW XLI QSWX MQTSVXERX
NSF - ZI IZIV LEH ;I LEZI XS REMP XLI FEWXEVHW [LS VI TVIZIRXMRK GSRJMHIRGI JVSQ
VIXYVRMRK XS XLI %QIVMGER IGSRSQ] RSX NYWX XLI TIRR] ERXI PSSXIVW FYX XLI FMK JMWL
EW [IPP XLI WPIE^IFEKW [LS VI XV]MRK XS FY] YT LSQIW FIJSVI WYVZMZSVW GER VIGPEMQ
XLIQ SV PSFF]MRK XS HIVIKYPEXI JSSH ERH SXLIV IWWIRXMEP WYVZMZEP GSQQSHMXMIW
ERH XLEX FEWXEVH &VIGOMRVMHKI 7GSXX ]IW XLI 4LEPER\ OMRK WXMPP LMHMRK PMOI E VEX MR
LMW %RXEVGXMG *SVXVIWW SJ 7GYQHMXYHI ,I HSIWR X ORS[ MX ]IX FYX [I ZI FIIR MR
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WII LMQ TEVXMGYPEVP] XLI -67
?,I KVMRW ERH VYFW LMW LERHW XSKIXLIV A
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VYR MJ TISTPI FIPMIZI MR MX PMOI *(6 WEMH 8LI SRP] XLMRK [I LEZI XS JIEV MW JIEV
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EGGSYRXW [MXL %QIVMGER FEROW E JI[ QSVI TVMZEXI FYWMRIWWIW STIRMRK YT E JI[
QSVI TSMRXW SR XLI (S[ /MRH SJ PMOI XLI [IEXLIV )ZIV] ]IEV XLI WYQQIV W E PMXXPI
PSRKIV XLI WOMIW E PMXXPI FPYIV -XW KIXXMRK FIXXIV .YWX [EMX ERH WII
1E\ &VSSOW -,I VIEGLIW MRXS E GSSPIV SJ MGI TYPPMRK SYX X[S FVS[R
FSXXPIW
6SSX FIIV#
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MRHITIRHIRX FVERGL SJ XLI .ETERIWI 7IPJ (IJIRWI *SVGIW 8LIMV QEMR HYX] [MPP FI XS
XIEGL .ETERIWI GMZMPMERW LS[ XS TVSXIGX XLIQWIPZIW JVSQ XLI PMZMRK HIEH 8LIMV SRKSMRK
QMWWMSR [MPP EPWS MRZSPZI PIEVRMRK FSXL EVQIH ERH YREVQIH XIGLRMUYIW JVSQ RSR
.ETERIWI SVKERM^EXMSRW ERH LIPTMRK XS JSWXIV XLSWI XIGLRMUYIW EVSYRH XLI [SVPH 8LI
7SGMIX] W ERXM JMVIEVQ EW [IPP EW TVSMRXIVREXMSREP QIWWEKI LEZI EPVIEH] FIIR LEMPIH EW
ER MRWXERX WYGGIWW HVE[MRK NSYVREPMWXW ERH HMKRMXEVMIW JVSQ EPQSWX EPP 92 REXMSRW
8SQSREKE -NMVS WXERHW EX XLI LIEH SJ XLI VIGIMZMRK PMRI WQMPMRK ERH FS[MRK EW LI KVIIXW
LMW TEVEHI SJ KYIWXW /SRHS 8EXWYQM WQMPIW EW [IPP PSSOMRK EX LMW XIEGLIV JVSQ EGVSWW
XLI VSSQ A
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GSRGIVRIH 8SQSREKE W NYWX E GVE^] SPH LMFEOYWLE FYX LI LEW WXEVXIH WSQIXLMRK
[SRHIVJYP WSQIXLMRK - XLMRO MW Z MXEP JSV XLI JYXYVI SJ .ETER ,MW KIRIVEXMSR
[ERXIH XS VYPI XLI [SVPH ERH QMRI [EW GSRXIRX XS PIX XLI [SVPH ERH F] XLI [SVPH QIER ]SYV GSYRXV] VYPI YW &SXL TEXLW PIH XS XLI RIEV HIWXVYGXMSR SJ SYV
LSQIPERH 8LIVI LEW XS FI E FIXXIV [E] E QMHHPI TEXL [LIVI [I XEOI
VIWTSRWMFMPMX] JSV SYV S[R TVSXIGXMSR FYX RSX WS QYGL XLEX MX MRWTMVIW ER\MIX] ERH
LEXVIH EQSRK SYV JIPPS[ REXMSRW - GER X XIPP
]SY MJ XLMW MW XLI VMKLX TEXL XLI JYXYVI MW XSS QSYRXEMRSYW XS WII XSS JEV
;SVPH ;EV >
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IRH
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4PIEWI Q] GLSMGI SJ JSSH Q] XVIEX - YWIH XS LEXI XLMW WXYJJ XLSYKLX MX PSSOIH PMOI
E FYJJIX SJ ZSQMX 1] WXEJJ LEH XS HVEK QI LIVI SRI EJXIV RSSR XLIWI ]SYRK 7EFVEW
[MXL XLIMV I\SXMG XEWXIW .YWX XV] MX ]SY SPH ]IOOI XLI] H WE] 8LEX W [LEX XLI]
GEPPIH QI E ]IOOI -X QIERW XMKLX EWW FYX XLI SJJMGMEP HIJMRMXMSR MW +IVQER .I[
8LI] [IVI VMKLX SR FSXL GSYRXW
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+IVQER] 8LEX [EW XLI PEWX XMQI - WE[ ER] SJ Q] JEQMP] EPMZI 8LIVI W E PMXXPI
TSRH MR E WQEPP XS[R MR 4SPERH [LIVI XLI] YWIH XS HYQT XLI EWLIW 8LI TSRH MW
WXMPP KVE] IZIR LEPJ E GIRXYV] PEXIV
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WSYP XLI TIVWSR XLEX XLI] [IVI WYTTSWIH XS FI [EW
KSRI JSVIZIV - H PMOI XS GLMRO GLEV W RSX GVYI &YV MJ MX MW XLIR RS SRI SR )EVXL
WYVZMZIH XLMW [EV
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LSVM^SR A
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QYGL SJ E GLERGI RSX [MXL WIZIVEP QMPPMSR LYRKV] FSEX TISTPI ERH LEPJ XLI [SVPH W
REZMIW GSRZIVXIH XS JMWLMRK JPIIXW -X HSIWR X XEOI QYGL NYWX SRI LIPS HVSTTIH XSVT
RSX WS GPSWI EW XS HS ER] TL]WMGEP HEQEKI FYX GPSWI IRSYKL XS PIEZI XLIQ HIEJ
ERH HE^IH 8LI] [SYPHR X RSXMGI XLI JEGXSV] WLMTW YRXMP MX [EW XSS PEXI =SY GSYPH
LIEV MX JSV QMPIW E[E] XLI [EVLIEH HIXSREXMSRW XLI WLVMIOW 2SXLMRK GSRHYGXW
WSYRH IRIVK] PMOI [EXIV
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SGIERSKVETLMG MRWXMXYXI SYXWMHI SJ 7ER (MIKS 8LEX W [L] - NSMRIH XLI REZ] MR XLI
JMVWX TPEGI ERH LS[ - JMVWX PIEVRIH XS PSZI XLI SGIER =SY GSYPHR X LIPT FYX WII
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EPQSWX FIMRK LYRXIH XS I\XMRGXMSR 8LI] H
WXSTTIH FIMRK EJVEMH SJ YW ERH WSQIXMQIW ]SY GSYPH TEHHPI SYX GPSWI IRSYKL XS
XSYGL XLIQ 8LI] GSYPH LEZI OMPPIH YW MR E LIEVXFIEX SRI WQEGO SJ E X[IPZI JSSX
XEMP JPYOI SRI PYRKI SJ E XLMVX]WSQIXLMRK XSR FSH] )EVP] [LEPIVW YWIH XS GEPP
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ORI[ [I HMHR X QIER XLIQ ER] LEVQ XLSYKL 8LI] H IZIR PIX YW TIX XLIQ SV
QE]FI MJ XLI] [IVI JIIPMRK TVSXIG
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XMZI SJ E GEPJ NYWX FVYWL YW KIRXP] E[E] 7S QYGL TS[IV WS QYGL TSXIRXMEP JSV
HIWXVYGXMSR %QE^MRK GVIEXYVIW XLI 'EPMJSVRME KVE]W ERH RS[ XLI] VI EPP KSRI
EPSRK [MXL XLI FPYIW ERH JMRFEGOW ERH LYQTFEGOW ERH VMKLXW - ZI LIEVH SJ
VERHSQ WMKLXMRKW SJ E JI[ FIPYKEW ERH REV[LEPW XLEX WYVZMZIH YRHIV XLI %VGXMG MGI
FYX XLIVI TVSFEFP] EVIR X IRSYKL JSV E WYWXEMREFPI KIRI TSSP - ORS[ XLIVI EVI WXMPP
E JI[ MRXEGX TSHW SJ SVGEW FYX [MXL TSPPYXMSR PIZIPW XLI [E] XLI] EVI ERH PIWW JMWL
XLER ER %VM^SRE W[MQQMRK TSSP - [SYPHR X FI XSS STXMQMWXMG EFSYX XLIMV SHHW
)ZIR MJ 1EQE 2EXYVI HSIW KMZI XLSWI OMPPIVW WSQI OMRH SJ VITVMIZI EHETX XLIQ
PMOI WLI HMH [MXL WSQI SJ XLI HMRSWEYVW XLI KIRXPI KMERXW EVI KSRI JSVIZIV /MRHE
PMOI XLEX QSZMI 3L +SH [LIVI XLI %PP 1MKLX] GLEPPIRKIW 1ER XS XV] ERH QEOI E
QEGOIVIP JVSQ WGVEXGL =SY GER X LI WE]W ERH YRPIWW WSQI KIRIXMG EVGLMZMWX KSX
MR
XLIVI ELIEH SJ XLI XSVTIHSIW ]SY EPWS GER X QEOI E 'EPMJSVRME KVE]
?8LI WYR HMTW FIPS[ XLI LSVM^SR 1MGLEIP WMKLW A
7S XLI RI\X XMQI WSQISRI XVMIW XS XIPP ]SY EFSYX LS[ XLI XVYI PSWWIW SJ XLMW [EV EVI
SYV MRRSGIRGI SV TEVX SJ SYV LYQERMX]
?,I WTMXW MRXS XLI [EXIV A
;LEXIZIV FVS 8IPP MX XS XLI [LEPIW
Q
(IRZIV 'SPSVEHS 97%
?8SHH ;EMRMS [EPOW QI XS XLI XVEMR WEZSVMRK XLI
TIVGIRX
XSFEGGS 'YFER GMKEVIXXIW - ZI FSYKLX LMQ EW E TEVXMRK KMJX A
=IEL - PSWI MX WSQIXMQIW JSV E JI[ QMRYXIW QE]FI ER LSYV (SGXSV 'LERHVE XSPH
QI MX [EW GSSP XLSYKL ,I GSYRWIPW VMKLX LIVI EX XLI :% ,I
8SPH QI SRGI XLEX MX W E XSXEPP] LIEPXL] XLMRK PMOI PMXXPI IEVXLUYEOIW VIPIEWMRK
TVIWWYVI SJJ SJ E JEYPX ,I WE]W ER]SRI [LS W RSX LEZMRK XLIWI QMRSV 8VIQSVW
]SY VIEPP] KSXXE [EXGL SYX JSV
-X HSIWR X XEOI QYGL XS WIX QI SJJ 7SQIXMQIW - PP WQIPP WSQIXLMRK SV WSQIFSH] W
ZSMGI [MPP WSYRH VIEPP] JEQMPMEV 0EWX QSRXL EX HMRRIV XLI VEHMS [EW TPE]MRK XLMW
WSRK - HSR X XLMRO MX [EW EFSYX Q] [EV - HSR X IZIR XLMRO MX [EW %QIVMGER 8LI
EGGIRX ERH WSQI SJ XLI XIVQW [IVI EPP HMJJIVIRX FYX XLI GLSVYW
+SH LIPT QI [EW SRP] RMRIXIIR
?8LI GLMQIW ERRSYRGI Q] XVEMR W HITEVXYVI 4ISTPI FIKMR FSEVHMRK EVSYRH YW A
*YRR] XLMRK MW Q] QSWX ZMZMH QIQSV] OMRHE KSX XYVRIH MRXS XLI REXMSREP MGSR SJ
XLI ZMGXSV]
?,I QSXMSRW FILMRH YW XS XLI KMERX QYVEP A
8LEX [EW YW WXERHMRK SR XLI .IVWI] VMZIVFERO [EXGLMRK XLI HE[R SZIV 2I[ =SVO
;I H NYWX KSX XLI [SVH MX [EW :% (E] 8LIVI [EW RS GLIIVMRK RS GIPIFVEXMSR -X
NYWX HMHR X WIIQ VIEP 4IEGI# ;LEX XLI LIPP HMH XLEX QIER# - H FIIR EJVEMH JSV WS
PSRK JMKLXMRK ERH OMPPMRK ERH [EMXMRK XS HMI XLEX - KYIWW - NYWX EGGITXIH MX EW
RSVQEP JSV XLI VIWX SJ Q] PMJI - XLSYKLX MX [EW E HVIEQ WSQIXMQIW MX WXMPP JIIPW PMOI
SRI VIQIQFIVMRK XLEX HE] XLEX WYRVMWI SZIV XLI ,IVS 'MX]
%'/23;0)(+1)287
% WTIGMEP GLERO ]SY XS Q] [MJI 1MGLIPPI JSV EPP LIV PSZI ERH WYTTSVX
8S )H :MGXSV JSV WXEVXMRK MX EPP
8S 7XIZI 6SWW 0YOI (IQTWI] ERH XLI IRXMVI 'VS[R 4YFPMWLIVW XIEQ
8S 8 1 JSV [EXGLMRK Q] FEGO
8S &VEH +VELEQ EX XLI ;EWLMRKXSR 4SWX (VW 'SLIR ;LMXIQER ERH ,E][EVH
4VSJIWWSVW +VIIRFIVKIV ERH 8SRKYR 6EFFM %RH] *EXLIV *VEWIV 787 77
&SVHIEY\ 972 JEMV & ERH ) .MQ .SR .YPMI .IWWMI +VIKK ,SRYTS ERH
(EH JSV XLI LYQER JEGXSV
%RH E JMREP XLERO ]SY XS XLI XLVII QIR [LSWI MRWTMVEXMSR QEHI XLMW FSSO TSWWMFPI
7XYHW 8IVOIP XLI PEXI +IRIVEP 7MV .SLR ,EGOIXX ERH SJ GSYVWI XLI KIRMYW ERH
XIVVSV SJ +ISVKI % 6SQIVS
- PSZI ]SY 1SQ