15 downloads
477 Views
1MB Size
Report
This content was uploaded by our users and we assume good faith they have the permission to share this book. If you own the copyright to this book and it is wrongfully on our website, we offer a simple DMCA procedure to remove your content from our site. Start by pressing the button below!
Report copyright / DMCA form
! " ! #
$%& ' ( ) " '* ) +' (' () , )*)- "+&",&
. !
/ '0
(
) 1234565367832
3 9
" < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < 4 ) ; < < < < < < < < < < < < < < < < < < < < < < < < = < " ; < < < < < < < < < < < < < < = 5< " >!> ; < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < 7 # < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < 7 # ' < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < 4 .# < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < =
# ) < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < 56 # . < < < < < < < < < < < < < < < < < < < < < < < < < < < < < 5 ># . . < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < 52 # ?! ! < < < < < < < < < < < < < < < < < < < < 51 # " < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < # @ .. < < < < < < < < < < < < < < < < < < < < < < )) ! < < < < < < < < < < < < < < < < < < < < < < < < 2 ))) " < < < < < < < < < < < < < < < < < < < < < < < < < < < < < 8 )* A < < < < < < < < < < < < < < < < < < < < < < < < < < 24 * B A >! < < < < < < < < < < < < < < < < < 16 *) " < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < = *)) ; ! < < < < < < < < < < < < < < < < < < < < < < < < < *))) " . < < < < < < < < < < < < < < < < < < < < < 1
)C $ . ; 0 < < < < < < < < < < < < 57 C " A< < < < < < < < < < < < < < < < < < < < < < < < < < < < C) , . / < < < < < < < < < < < < < < < 2 (('+', ! < < < < < < < < < < < < < < < < < < < < & ! D . < < < < < < < < < < < < < < < < < < < < < < < < < < < < < < . ! < < < < < < < < < < < < < < < < < < < < < < < > < < < < < < < < < < < < < < < < < < ; . ! A < < < < < < < < < < ( . ! D ! < < < < < < < < < < < < < < < < < < < < < < < , A . ! ! < < < < < < ! . < < < < < . ! 9 9 ! A ! . 9 D 0 ! < < < < < < < < < < < < < < < < < < < < < <
! 9 ! ! 9 0 9 !; < + !9 9 A9 . ; 9 . 3 9 3 ! !; < ) 9 ; 9 0 ! 9 ! A > . 9 0 0 >3 . !. !; 3
D 9 3 ! A A < A 9 9 >!> ; 3
9 . > 3 A D 9 99 E D 9 ! < 6< 566
9 3 A ! . F D 9 ! ! 9 A F . ! ! ! ! 9 9 ! ; 3 9 9 9 3 9 < + . 3 < ; A < 0 ! 9 3 D < " 9 ; 9 ! ! D 9 F ( A ; 9 9 ! 9 D ; 9 A A 9 A 9 9 A A A DF ; 9 9 ! !< 3 < + 3
. 99 E< B ; ! ! . 3 99 E< ! 99 E< & 0 & 0 3 9 ; ! : G A ! " 9 G A 9 9 . 9 G A ! 9 !
! A ; < ; ! # < + > > D 0 < 9 ;
0 ! . ! < " D ! ! 9 9 3 9 ! < " ! . ! 9 3 . < ' 9 .3 A A " 9 ==< ! 9 0 9 9 D 0 3 A ! < D . < , 0 ! 9 " : D A 9 ! 3 ! ! 9 0 ! ! 9 <
%$
( 9 99 E !9 ; D ! < ,0 3
9 D 9 3 . ! 9 ! A . < ' 0 9 D < " * ( 0 9 ; 3 ; 9 ; 3 ; ! 9 . 9 3 ! D ! . 3 D A0 ! D ; ! . A ; A 9 D . 9 0 ; 3 D ! > ! ; ! 9 ; 3 ! ! ! 3 ; G ! A ! 0 3
D . < + ;9 ! 9 ! 3 0 > A ! ! . < ; A ! !; . 9 ! A < ( 0 3 ! ! 0 ; !9 A A ! ; 9 ! ! 9 ! ! 9 ; . A0 D ;9 ; 3 < B 9 A ;
=7 > ! " B: @ $ 1 4 1 #$ %% CA / ' @$ : % 77 A D . ' @$ % 77
$'
9 D9 3 9 D 9
9 >!> < , !3 F H ; !
! !; ! F *' !+,+ !( "# ) $ !) % - .
99) ! 9 0 D 3 0 ; E 9 3 9 . 9 D ! 9 0 9 9 . ! ! 0 ! 9 ! A > 9 0 3
; ! A 9 ; 3 9 9
3 .! E+ ; 9 G ; < & 9 ! .. 99! D E !D : A 9 9 9 9 9 0 9 9 ! 3 # 0 . 9
9 9 9 9 0 < , 9 9 ! ! 0 ; 9 9 ! A 9 ; A ! 9 9 D ; < B ! 9 G 9 ! G D ! < ! ! 3 0 ! 0
! < A0 ! ! ! ! . 3 9 ! 9 3 < & D ! D ; >3 ; A ! ! 9 3 D 9 A . ! 3 . ! ! < & ! ! A . 9 ) 3 9 .3 ! ! .! < B > 9 ? " 9 0 &
9 9 3 A 0 ! 9 ! 3 !9 ! ! 9 0 3 .< A 0 99 E 3 9 3 .! . 9 .> ! 3 < +- ./ /((#
* ! ! ! > < & ! D 9 ! ! D 9 A 9 > ! 0 9 A ! D A 3
E1 % $ 0 / #$ %+ =7 '4 = N4H1 (02 H .
&
! ; 9 D . > G < 9 A !9 A ! ! A < " A 9 ! ! < B A 3 ; .3 ! . 9 9 9 D 3 > !> A 9 D * 9 3 A ! D 99" D E9 0 D 99 .E< ! 9 D , 9 !3 0 9 ! 9 A A ! D ! < " 9 ! ! ! A 09 % *# .& 01 -$ . #
H1 ' F 1 99 E 3 A 9 0 D 9 D9 < ( . > A 0 < B 9 ! ! 9 3 ! 9 < ! A 9 D A . 9 D 9 < & A > . ! 9 9 ! 3 9 0 3 9 09 D A < ! 3 ; 9 A ! ; 3 ! ! < !
9 ! C*)) C*))) < & " ! 21= / 4), # ! 9 ! .9 0 ! ! 9 < & 5) / 4), ! 442< ; D9 9 . ! D 9 3 < ' ! 9 & '( ! 4149 ! D ! 9 3 (D 99( E 99 ! E< & & D * D '
9 0 D
D< H ! 4=< D
! ; 9 3 < & 4 ( . ; 3 ! 41=< ; ! < 5< ; 3 ! 9 ! 9 9 3 > < &! . 9 &3 '(9 ; ; ! 6# 3M - +C N 7H $ H 4 8 4 4 41 $ 4 :$ $ L L 4 4:! $: 4 :1 &5 ; 01 ' H 7 KH4 FH . /H * . %+ %, ' 8 # 7H ! # ! ! : H $ 4 4 H 8 :$ =7 " 4 ! 0 N$4 @ B '$ 74 3 + 77 A ; ' Q4 8$ + C % C =7 : )
+$
! 9 3 9 A ! 9 0 ! 9 . A 9 3 ! . 3 < ) ! ! A . ! ! ! A ! 9 ! A 3 A A 9 0 < B 99 ! 3 E 99 E9 A
> . ! 9% $ $ ! ! 99 AE ! ! A ; 9 A 9 ! 9 >3 N: )@$ 8 =7 'H H4 4 L 7(
H K1 $
++
. 9% G A > !< " D ; 99 ! E9 ! . !3 9 9 A 9 ! A 99 A ! .E 511 B,"#< / ; 9 9 ! 3 A # ! A A #< & A A ; 9 < 3.9 9 99A . . ! 9 . . 9 3 A 0 A A E9% 9
. . > . D < 1# 1 < A 9 . ! 9 ! 9 3 ; 3 < # ! 9 A 3 9 ! A 9 < 9 ! 9 3
A0 9 9 ! 3 . A D A0 A0 < - . 9 ; 9 3 9 ; 9 ! =7
& 5 ( (;( & +, ' # # #$ % %
" 4 ! 0
+
D9 9 ! 9 9 9% 9 ! 9 09 . 9 . ! 3 ! ! 9 D . < 9 9 D A 9 . ! 9 . .9 A 09 > > . 0 D A ! 0 < + I 99" E D D ; ! ! 9 D . D 9 K ! 9 9 < B 9 0 0 9 ! D ! D !
! < '>9 ;9 ! 9 9 ! 9 9 D 0 < & ' D. 9 A 0 < / ! D ! 9 ( * " (* " ) #< + ! A 3 ! !< % 99 E ; '; ! #9 " ! . ! ! N ! < " ! 9 D 9 9 D ? A ! < & ! .9 > . * 9 G > . ) A ! : 1 > > H (
0H1 4 01 ' H 7 - 5$1 =4 'H
: L 8 4 $ H ' . 4 8 : ! 9 &. D E + # % " P , ; $ 9 #$ +C 77
< " 99 ! E9 ; . #9
D < ) 9 . 3 0 A < & 9 3 D . >3 9 .A < , 3 ! ; D . ! ; D ! 9 ! . 9 A ! 3 D 3 E 99 !3 D ; 0 . 9 3 D 99 E A ! 9 ; A ! # 0 9 0 ! 9 ! 3 ! # * / ,* (# #) ? # / (# # * # ? ( # * ? ( ) #* ) ) ) (# * # # , * * ? # # ) > ) # # > ? #. 9 5 D >. 3 . ; A ! 9 D . ! ; . ! < & 9
4H : 1 4H $$ $ 1$ 4
L !$ 4 L &4 > 4H , 4H D4 : Q3 &999, + ;H $$ $ 1$ 4 L !$ 4 L &4 > ;H , 4( H D4 : Q3 C % 4 $ %+
'
2 ,. 9 D . !
D ! D 3 9 D 0 D 9 ! ! ! ! < )! >. ! ! ! ! .
! A A ! D < " . 0 ! A ! < # ! . 9 ! D D 3 9 9
>! 3 < " A9 9 ! ! ! A < .# ! 9 9 3 9 9 . 9 ! 9 D A0 ! ! 3 . 3 < ( 9 D 9 . . > 9 9 ! ! . . ! D ! ! 9
9 9 A 9 3 ! ! ; . ! < . > < B ! 9 ( A 9 # # -
# ) # # # #) ) # * ? # * ) # * ) # * # < )
! ! ! ! ! ! 9 ! 0 ! ! ! !
0 9 0 > A 0 # ( # * # * * / )* #* # ) , * ) # # # # # # # # # ( ) ) * # # # , ! C)C 9
D . CC 9 9 ! !< < 99( A 0 D . 0 A ! A DE9 D .9 99 0 A J A A ; 3 D <E D . D . 9
! ; ! . A0 A0 < ) . 9 ! ! ! 3 . > 9 A 9 A 9 ! 0 0 99 E 99 E9 3 . D < 5< " ; 3 9 D9 >! 9 3
9 9 ! 9 3 < ! ! 0 . < I . 9 &! . 9 0 ! ! . ! ! 9 9 ! < )3 9 . 3 ! . ! ! < & . 9 D ! >. 3 !A 9 0 : &
$
# (#< # " ! 9 0 . 9 < ! 3 . ! ! . > . 3 . 9 9 . 3 A 0 9 (# . 9 9 . 9 9 ! 9 3 ; 9 . D 9 ! . < ) 0 ! A0 D . 9 3 9 0A0 ! 9 ! . ! ! ! D .9 99 . E< & B," < & ! 9 9 3 ; D ! !9 B," ; ! 9 A 9 ;< " ! . 9 ; B," ! 0 9 ! 9 9 3 . 0 D . 9 D ! ! < '9 0 9
$
D ! 9 D 9 0 9 ! 3 D 99 E ! ! ! # D D 3 ! ! < ) 3 9 ! ! . < ' 0 . !9 0 . ! D < 9 . 0 D ! 9 ! A3 < ! 9 0 0
! ! ! 9 ! ! ! 3 ! 9 ! 3 < + 0 A A . ! ; 3 ! < , . A : 3 ! 9 ! A 0 9 A D 9 ! 9 0 9 ! 0 9 9 ! 0 !< & 3 ! ! < - 9 D , 9 D D D ! D ! ;< " 9 ! 0
A 9 3 A9 ! A ! # > 9 !
! 9 9 A #9 . ! ! ! . 9 ! .3 A D ! ! A 3 9 ! 3 . < 9 A ! 9 0 ! < D ; 9 9 9 9 ! 3 771 Y$ $ %+ + %+A P 7 (
$
$%
! ! ! 9 0 ! 9 ! 3 ! !< +
! . 9 3 D D > 3 < " ! ! . ! ! . 9 A ! D . < & A0 ! ! 9 ! 9 3 D< ' 9 D 0 < + A D 9 ! & 3 # # !; . < > # " . . 9 ! . / # ! 0 3 # (# 9 A < ! . < ( A ! ! !; . A 3 9 ! 9 . 9 ! 3 9 . < " 9 A D 9 0 ! >3 ! ! 9 ! 9 ; D ! . 3 0 . ! < 9 9 G . . A . 9 9 $$+
! ; 9 0 9 ! . 9 > ! ; 3 9 ! > 9 G ! !< < ! : 3 D 0 A 0 . 3 ! A D F : A A D 0 9 ! D . ! ! . A 9 A 9 > > . < /9 0 A9 D A < ) ! ; 0 9 D ; A 0 9 !! 3 . 3 A ; 9 D ; < & : ! ; "A #9 " ! A A 9 . & . ! 3 . . .#9 A 9 ( . ,.
': 4, 3H 1 41 4 )@$( 4$ $ L$ '$ % % ( 4 "FFF ;$ Q3 8 4 H L$ )4 % % ( 4 4 ;H 4 ' 3 B$ %+ + !(K! B . ! ! ! 8 5#< H 0 3 D ;9 9 A 9 3 . 9 A 9 . ! ! < # , ! 9 3 ) (#< / B," ! ! ! 0 ! ! ! 9 ! ! A < 3 9 . # ! . !; H . 2Q51< < 114< ! ! . !; '( 2< 5< =66< . 9 / H 1< 4< =169 3 9 ; ! B,"< .# " . A9 - ) < . 9 . ! 3 9 A D ; ! ! ! 9 !A A ! D ! ;9 < ! $&
#9 ! D ! 3 ! ! !9 3 ! #
3 . ! 99 !DE . 3 9 . H 4: LA 8 4 $ 4 8 4 $L $ ! A : ! 4 L4 5K
@ $$ ( $ 1 A L Q $! 8 $4$ 74 H 84 B;' 4 > : : @ $ L4H $ L 8 $4$ !
$'$
! 5= ! > D ; 3
9 . ! ; ! < ! . & 9 / ( ! " ! 9 ! ! ! ! . ! < .> # ; 9 . D < , ! ! A ! A D !3 9 9 ! .. 9 A ! D . < B . & ; 3 A ! 9 ! ! ! ! 0 D ; 3 < !
9 !
. A0 !A < $ 9 D ? A ! / 3 9 ! . < . ? A D ! 9 # ; < "! ! A ; 3 D ! ? A .3 D 9 A &CCC,
$'&
5 ! #2% %
< " A . !< ; 9 ; ! 9 ! ! 3 < & . A A ) , # # G . D A J 5# > G ; ! ! D 9 D A 9 . ! A ! J + ' ' ' ; # AE( K( ABKB #$ ++ 0( @ : > 4H )(9 , 4 - H FF ;$ +A D8 ) +
. #$ +
O )
O4 % Q4 4H A 84 )@$ A 84
B B,"# 2< 5< =5=< B D ,3 ! 9 B B !A ! A 9+ B," ! < < =69 ! ! ! ' . 9 < < =< " * 9 < < =5< B," D A ! : ! G B 3 6< 7< 1289 ! @ I G B 6< < =69 ! ? G , ! 4< 8< 1489 ! ?.3 G B 6< < 1=9 ! ( . G 3 B 54< 8< =49 ! * 9 # ; G CCC))) B 7< 5< 1=2< & D B A 2< 1< =589 B (D ! ! A D 1< < =5=< 4L +(99F
$'
% ( $ )"
& ! ;( * , * ) # # # # ) 1 # # # ) / J # )? # # ) ) # * ( ), * # ) # # * # # # # # # ) ))
! =4WR
L]EHJOLFD X
L
SRJOHGX
QMLKRYH
VH
WLaH
GLSORPDWVNLK OLFD
]DWYRUHQLND L
NRML
NRQ]XODUQLK
VX
GUCDYOMDQL
SUHGVWDYQLND
EH] GUCDYOMDQVWYD QMLPD WUHED
REUD`DQMD
LQWHUHVH
LOL
GLSORPDWVNRP
VYDNRM
YODVWL
]HPDOMD ]HPOML
NRMH
NDR
L
SUXCLWL LVWH RODN^LFH
SUHGVWDYQLNX
QDFLRQDOQRM
X
GUCDYH
LOL
NRMD
^WLWL
LQWHUQDFLRQDOQRM
aLML MH ]DGDWDN GD LK ^WLWL
=DWYRUHQLFL PRUDMX ELWL UHGRYQR GUCDQL X WRNX QDMYDCQLMLK GRJD_DMD ELOR SUHNR GQHYQLK OLVWRYD aDVRSLVD LOL SRVHEQLK SXEOLND FLMD ND]QHQLK ]DYRGD ELOR SUHNR UDGLR HPLVLMD SUHGDYDQMD LOL VYLK GUXJLK VOLaQLK VUHGVWDYD NRMH DGPLQLVWUDFLMD RGREUL LOL NRQWUROL^H
%LEOLRWHND
6YDNL
]DWYRUHQLND
]DYRG
GRYROMQR
=DWYRUHQLNH WUHED
WUHED
GD
LPD
VQDEGHYHQX
SRGVWLFDWL
GD
ELEOLRWHNX
SRXaQLP
VH
L
]D
VYH
NDWHJRULMH
]DEDYQLP
NQMLJDPD
^WR MH YL^H PRJX`H
NRULVWH ELE
OLRWHNRP
5HOLJLMD
$NR
X
]DYRGX
SRVWRML
GRYROMDQ
EURM
]DWYRUHQLND
NRML
SULSDGDMX LVWRM YHURLVSRYHVWL MHGDQ RVSRVREOMHQ SUHGVWDYQLN WH YH URLVSRYHVWL WUHED GD EXGH LPHQRYDQ LOL SULKYD`HQ RG ND]QHQRJ ]D YRGD .DG EURM ]DWYRUHQLND WR RSUDYGDYD L NDG RNROQRVWL WR GR]YR OMDYDMX DUDQCPDQ WUHED GD EXGH SUHGYL_HQ ]D SXQR UDGQR YUHPH 2VSRVREOMHQL SUHGVWDYQLN LPHQRYDQ LOL SULKYD`HQ SUHPD SDUDJUDIX O WUHED GD EXGH RYOD^`HQ GD SRYUHPHQR RUJDQL]XMH YHUVNH REUHGH LOL GD NDG MH JRG WR RGUH_HQR aLQL QDVDPR SDVWRUDOQH SRVHWH ]DWYRUHQLFLPD VYRMH YHURLVSRYHVWL 1LMHGQRP ]DWYRUHQLNX QH VPH VH QLNDGD XVNUDWLWL SUDYR GD GR_H X GRGLU VD SUHGVWDYQLNRP MHGQH YHURLVSRYHVWL 1DSURWLY DNR
6ORERGDQ %HOMDQVNL 0H_XQDURGQL SUDYQL VWDQGDUGL R NULYLaQRP SRVWXSNX
VH
]DWYRUHQLN
SURWLYL
SRVHWL
YHUVNRJ
SUHGVWDYQLND
QMHJRY
VWDY
VH
PRUD X SRWSXQRVWL SR^WRYDWL 6YDNRP ]DWYRUHQLNX PRUD VH SUL]QDWL SUDYR GD X JUDQL FDPD
PRJX`QRVWL
]DGRYROMDYD
SRWUHEH
VYRJ
UHOLJLR]QRJ
CLYRWD
XaHVWYRYDQMHP X YHUVNLP REUHGLPD NRML VX RUJDQL]RYDQL X ]DYRGX LOL
SRVHGRYDQMHP
NQMLJD
]D
YHUVNR
REUD]RYDQMH
L
YHUVNX
QDVWDYX
VYRMH YHURLVSRYHVWL
3UHGDMD QDaXYDQMHVWYDULNRMHSULSDGDMX ]DWYRUHQLFLPD .DG SUDYLOQLN QH RYOD^`XMH ]DWYRUHQLND GD ]DGUCL NRG VHEH
QRYDF
SDGDMX
WH
VWYDUL
VWYDUL
RG
YUHGQRVWL
RGHOR
L
GUXJH
VWYDUL
NRMH
PX
SUL
WUHED RVWDYLWL QD VLJXUQR PHVWR SULOLNRP SULMHPD
]DWYRUHQLND X ]DYRG 0RUD VH VDVWDYLWL VSLVDN WLK VWYDUL L WDM VSLVDN WUHED
GD
SRWSL^H ]DWYRUHQLN
7UHED
SUHGX]HWL PHUH
GD VH RYL SUHG
PHWL RaXYDMX X GREURP VWDQMX
2YL
SUHGPHWL
L
QRYDF
PRUDMX
VH
YUDWLWL
]DWYRUHQLNX
SUL
QMHJRYRP SX^WDQMX QD VORERGX RVLP QRYFD NRML MH PRJDR GD SRW UR^L VWYDUL NRMH MH PRJDR GD SR^DOMH L]YDQ ]DYRGD LOL RGHOD NRMH MH WUHEDOR XQL^WLWL L] KLJLMHQVNLK UD]ORJD =DWYRUHQLN PRUD GDWL SRWYUGX R SUHGPHWLPD L QRYFX NRML VX PX YUD`HQL =D YUHGQRVWL L SUHGPHWH NRML VX SRVODWL ]DWYRUHQLNX VSROMD SULPHQMXMX VH LVWD SUDYLOD $NR MH ]DWYRUHQLN X YUHPH SULMHPD LPDR SUL VHEL OHNRYH LOL XVSDYOMXMX`D VUHGVWYD OHNDU `H RGOXaLWL NDNR `H VH V QMLPD SRVWXSLWL
2EDYH^WHQMH RVPUWLEROHVWLSUHPH^WDMXLWG 8 VOXaDMX VPUWL LOL WH^NH EROHVWL WH^NRJ XGHVD LOL VPH ^WDMD ]DWYRUHQLND X ]DYRG ]D GX^HYQH EROHVWL GLUHNWRU MH GXCDQ GD
6NXS PLQLPDOQLK SUDYLOD R SRVWXSDQMX VD ]DWYRUHQLFLPD
R WRPH RGPDK REDYHVWL EUDaQRJ GUXJD DNR MH ]DWYRUHQLN X EUDNX LOL QDMEOLCHJ VURGQLND D REDYHVWL`H R WRPH L VYDNX GUXJX RVREX NRMX PX ]DWYRUHQLN SUHWKRGQR R]QDaL
=DWYRUHQLN `H ELWL REDYH^WHQ R VPUWL LOL WH^NRM EROHVWL VYD NRJ EOLVNRJ VURGQLND 8 VOXaDMX R]ELOMQH EROHVWL WDNYRJ OLFD DNR WR SULOLNH GR]YROMDYDMX WUHED ]DWYRUHQLNX GR]YROLWL GD SRVHWL VYRM GRP ELOR X SUDWQML LOL VORERGQR
6YDNL
]DWYRUHQLN
LPD`H
SUDYR
GD
RGPDK
REDYHVWL
VYRMX
SRURGLFX R VYRP KDS^HQMX LOL R VYRP SUHPH^WDMX X GUXJL ]DYRG
3UHYR] ]DWYRUHQLND .DG VH ]DWYRUHQLFL GRYRGH X ]DYRG LOL NDG VH L] QMHJD L]YRGH WUHED GD EXGX ^WR MH PRJX`H PDQMH L]ORCHQL RaLPD MDYQRVWL L WUHED SUHGX]HWL PHUH GD VH ]D^WLWH RG YUH_DQMD UDGR]QDORVWL VYHWD L VYDNRJ GUXJRJ REOLND L]ODJDQMD MDYQRVWL
7UHED ]DEUDQLWL SUHYR] ]DWYRUHQLND SUL NRMHP SRVWRMH U_DYL XVORYL X SRJOHGX SURYHWUDYDQMD LOL VYHWORVWL NDR L VYDNLP VUHGVWYRP NRMH ]DWYRUHQLNH L]ODCH WHOHVQLP SDWQMDPD
3UHYR] ]DWYRUHQLND WUHED YU^LWL R WUR^NX XSUDYH L SRG MHG QDNLP XVORYLPD ]D VYH
2VREOMH ND]QHQLK ]DYRGD 8SUDYD ND]QHQLK ]DYRGD PRUD EULCOMLYR RGDEUDWL RVR EOMH VYLK VWHSHQD MHU GREUR XSUDYOMDQMH ND]QHQLP ]DYRGLPD ]DYLVL RG aHVWLWRVWL RYRJ RVREOMD QMHJRYH aRYHaQRVWL QMHJRYLK OLaQLK RVR ELQD L QMHJRYH VWUXaQH VSRVREQRVWL
8SUDYD ND]QHQLK ]DYRGD PRUD VWDOQR XODJDWL QDSRUH GD X VYHVWL RVREOMD L X MDYQRP PQHQMX EXGL L RGUCDYD XEH_HQMH GD RYDM
6ORERGDQ %HOMDQVNL 0H_XQDURGQL SUDYQL VWDQGDUGL R NULYLaQRP SRVWXSNX
]DGDWDN SUHGVWDYOMD YHRPD YDCQX GUX^WYHQX VOXCEX ]ERJ WRJD WUHED NRULVWLWL VYD SRJRGQD VUHGVWYD GD VH WR REMDVQL MDYQRVWL
'D EL VH SRVWLJOL QDSUHG SRPHQXWL FLOMHYL aODQRYL RVREOMD WUHED GD EXGX ]DSRVOHQL NDR VWDOQL VOXCEHQLFL ND]QHQLK ]DYRGD 2QL WUHED GD LPDMX VWDWXV GUCDYQLK VOXCEHQLND L GD LP SUHPD WRPH EXGH REH]EH_HQD VWDOQRVW VOXCEH NRMD `H ]DYLVLWL VDPR RG QMLKRYRJ GR EURJ SRQD^DQMD HILNDVQRVWL QMLKRYRJ UDGD L QMLKRYH WHOHVQH VSRVRE QRVWL
1DJUDGD
WUHED
GD
EXGH
GRYROMQD
NDNR
EL
VH
PRJOL
SULYX`L
L
]DGUCDWL X VOXCEL VSRVREQL OMXGL L VSRVREQH CHQH %HQHILFLMH L XVORYL VOXCEH WUHED GD EXGX RGUH_HQL V RE]LURP QD WH^NX SULURGX SRVOD
2VREOMH WUHED GD LPD GRYROMDQ QLYR REUD]RYDQMD L LQ WHOLJHQFLMH
3UH SULMHPD X VOXCEX RVREOMH WUHED GD SRKD_D RS^WL L SR VHEQL NXUV L GD SRORCL WHRULMVNL L SUDNWLaQL LVSLW
3RVOH SULMHPD X VOXCEX L X WRNX NDULMHUH RVREOMH WUHED GD RGUCDYD L XSRWSXQMXMH VYRMD ]QDQMD L VYRMX VWUXaQX VSRVREQRVW SR KD_DQMHP NXUVHYD
]D
XVDYU^DYDQMH
NRML
`H
ELWL
SRYUHPHQR
RJUDQL
]RYDQL
2VREOMH WUHED GD VH X VYDNRM SULOLFL SRQD^D L GD YU^L VYRMX GXCQRVW
WDNR
GD
SULPHURP
XWLaH
QD
]DWYRUHQLNH
L
L]D]LYD
QMLKRYR
SR^WRYDQMH
8 QDMYH`RM PRJX`RM PHUL RVREOMX WUHED SULGRGDWL GR YROMDQ EURM VSHFLMDOLVWD NDR ^WR VX SVLKLMDWUL SVLKROR]L VRFLMDOQL UDG QLFL XaLWHOML L WHKQLaNL LQVWUXNWRUL
7UHED REH]EHGLWL VWDOQH XVOXJH VRFLMDOQLK UDGQLND XaLWHOMD L
WHKQLaNLK
LQVWUXNWRUD
QH
LVNOMXaXMX`L
SUL
WRPH
XVOXJH
KRQRUDUQRJ
LOL GREURYROMQRJ SRPR`QRJ RVREOMD
'LUHNWRU ]DYRGD WUHED GD EXGH GRYROMQR NYDOLILNRYDQ ]D VYRMX GXCQRVW SR VYRP NDUDNWHUX VYRMRM DGPLQLVWUDWLYQRM VSUH PL RGJRYDUDMX`HP REUD]RYDQMX L VYRP LVNXVWYX X RYRM REODVWL
6NXS PLQLPDOQLK SUDYLOD R SRVWXSDQMX VD ]DWYRUHQLFLPD
2Q PRUD FHOR VYRMH YUHPH GD SRVYHWL VOXCEHQRM GXCQRVWL RYD QH PRCH ELWL VSRUHGQD
2Q PRUD VWDQRYDWL X ]DYRGX LOL QHSRVUHGQRM EOL]LQL ]DYR GD
$NR
GLUHNWRUD
RQ
UD]PDFLPD
VH
GYD
PRUD
1D
LOL
YL^H
VYDNL
aHOX
RG
VYDNRJ
]DYRGD RYLK
RG
QDOD]H
]DYRGD
RYLK
SRG
GD
]DYRGD
XSUDYRP
SRVH`XMH
PRUD
X
MHGQRJ NUDWNLP
SRVWRMDWL
RGJR
YRUQL VOXCEHQLN NRML VWDOQR ERUDYL X ]DYRGX
'LUHNWRU
QMHJRY
SRPR`QLN
L
YH`LQD
GUXJLK
aODQRYD
RVREOMD ]DYRGD WUHED GD JRYRUH MH]LNRP YH`LQH ]DWYRUHQLK LOL MH]L NRP NRML UD]XPH YH`LQD ]DWYRUHQLND
8YHN
NDG
MH
WR
SRWUHEQR
WUHED
VH
NRULVWLWL
XVOXJDPD
WX
PDaD
8
GRYROMQR
YHOLNLP
]DYRGLPD
NRML
]DKWHYDMX
XVOXJH
MHGQRJ LOL YL^H OHNDUD NRML `H VYH YUHPH SRVYHWLWL RYRP SRVOX EDU MHGDQ RG QMLK WUHED GD VWDQXMH X ]DYRGX LOL X QMHJRYRM QHSRVUHGQRM EOL]LQL 8 RVWDOLP ]DYRGLPD OHNDU WUHED VYDNRJ GDQD GD YU^L SR VHWH
L
GD
VWDQXMH
GRYROMQR
EOL]X
NDNR
EL
PRJDR
EF]
RGODJDQMD
LQ
WHUYHQLVDWL X KLWQLP VOXaDMHYLPD 8 PH^RYLWRP ]DYRGX CHQVNR RGHOMHQMH WUHED GD VWRML SRG XSUDYRP RGJRYRUQH VOXCEHQLFH NRMD MH GXCQD GD aXYD VYH NOMX aHYH ]DYRGVNRJ RGHOMHQMD
1LMHGDQ
VOXCEHQLN
PX^NRJ
SROD
QH
VPH
GD
X_H
X CHQVND
RGHOMHQMD EH] SUDWQMH QHNRJ aODQD RVREOMD CHQVNRJ SROD
6DPR
VOXCEHQLFL
CHQVNRJ
SROD
VPHMX
YU^LWL
QDG]RU
QDG
CHQVNLP ]DWYRUHQLFLPD 7R LSDN QH LVNOMXaXMH GD L] SURIHVLRQDOQLK UD]ORJD
VOXCEHQLFL
PX^NRJ SROD
QDURaLWR
OHNDUL
L LQVWUXNWRUL YU^H
VYRMH GXCQRVWL X ]DYRGLPD LOL RGHOMHQMLPD ]D CHQH 6OXCEHQLFL ]DYRGD X QMLKRYLP RGQRVLPD VD ]DWYRUHQL FLPD
VPHMX
GD
XSRWUHEH
VLOX
VDPR
X
VOXaDMX
QXCQH
RGEUDQH
SR
6ORERGDQ %HOMDQVNL 0H_XQDURGQL SUDYQL VWDQGDUGL R NULYLaQRP SRVWXSNX
NX^DMD EHNVWYD LOL SURWLYOMHQMD NRMD VH L]UDCDYDMX X VLOL LOL SDVLYQRM UH]LVWHQFLML
SUHPD
QDUHGEL
RVQRYDQRM
QD
]DNRQX
LOL
SUDYLOQLFLPD
6OXCEHQLFL NRML SULEHJQX VLOL WUHED GD RJUDQLaH QMHQX XSRWUHEX VDPR QD QDMQXCQLMX PHUX L GD R VOXaDMX L]YHVWH RGPDK GLUHNWRUD ]DYRGD
AODQRYL
VSHFLMDOQRM
RVREOMD
WHOHVQRM
REXFL
ND]QHQLK NRMD
`H
]DYRGD
LP
WUHED
GR]YROLWL
GD
GD
VH
SRGYUJQX
VDYODGDMX
DJUH
VLYQH ]DWYRUHQLNH
6OXCEHQLFL NRML YU^H QHNX VOXCEX NRMD LK GRYRGL X QHSRV UHGQL GRGLU VD ]DWYRUHQLFLPD QH VPHMX ELWL QDRUXCDQL VHP X SRVHE QLP SULOLNDPD 3RUHG WRJD QH WUHED QLNDG SRYHULWL RUXCMH aODQX RVR EOMD NRML QLMH REXaHQ X UXNRYDQMX WLP RUXCMHP
,QVSHNFLMD .YDOLILNRYDQL L LVNXVQL LQVSHNWRUL LPHQRYDQL RG QDGOHCQH YODVWL GXCQL VX GD YU^H UHGRYQX LQVSHNFLMX ND]QHQLK ]DYRGD L VOXCEL ND]QHQLK ]DYRGD 2QL `H QDURaLWR SD]LWL GD VH ND]QHQLP ]DYRGLPD XSUDYOMD SR ]DNRQLPD L SUDYLOQLFLPD NRML VX QD VQD]L X FLOMX GD VH SRVWLJQX ]DGDFL VOXCEH ND]QHQLK ]DYRGD L VOXCEH SRSUDYOMDQMD
'(2 ,, 35$9,/$.2-$ 6(35,0(1-8-8 1$ 326(%1( .$7(*25,-( $ 2VX_HQLFL 5XNRYRGQL SULQFLSL
6OHGH`L UXNRYRGQL SULQFLSL LPDMX ]D FLOM GD RGUHGH GXK X NRPH
VH
LPDMX
SULPHQMLYDWL
VLVWHPL
L]YU^HQMD
ND]QL
L
]DGDFL
NRMH
6NXS PLQLPDOQLK SUDYLOD R SRVWXSDQMX VD ]DWYRUHQLFLPD
WUHED
LVSXQLWL
VDJODVQR
GHNODUDFLML
NRMD
MH
QDYHGHQD
X
SUHWKRGQRM
QDSRPHQL RYRJD WHNVWD
=DWYRU L GUXJH PHUH NRMH LPDMX ]D SRVOHGLFH GD VH QHNL SUHVWXSQLN L]ROXMH RG VSROMQRJ VYHWD WH^NH VX VDPLP WLP ^WR RGX]L PDMX
SRMHGLQFX
SUDYR
GD
UDVSRODCH
VYRMRP
OLaQR^`X
OL^DYDMX`L
JD
VORERGH ,]X]LPDMX`L PHUH RSUDYGDQRJ L]GYDMDQMD L PHUH RGUCDYD QMD GLVFLSOLQH VLVWHP L]GUCDYDQMD ND]QL QH WUHED GD SRYH`DYD SDWQMH NRMH VX YH]DQH ]D WDM SRORCDM
6YUKD L RSUDYGDQMH ND]QL PHUH OL^HQMD VORERGH X NUDMQMRM OLQLML
MHVWH
QXWD
VDPR
]D^WLWD DNR
GUX^WYD
VH
YUHPH
SURWLY
]ORaLQD
7DNYD
OL^HQMD
VORERGH
LVNRULVWL GD SUHVWXSQLN
VYUKD
EL`H
SRVWLJ X
QDMYH`RM PRJX`RM PHUL NDG EXGH RVORER_HQ EXGH QH VDPR CHOMDQ YH` L VSRVREDQ GD CLYL SR^WXMX`L ]DNRQ NDR L GD VH VWDUD R VYRMLP SRWUHEDPD
8
SRSUDYQD NRMLPD
WRP
FLOMX
YDVSLWQD
UDVSRODCH
UHCLP
PRUDOQD
WHCH`L
GD
L]YU^HQMD L
LK
GUXJD
ND]QH
VUHGVWYD
SULPHQL
WUHED L
VYH
VDJODVQR
GD
NRULVWL
REOLNH
VYD
SRPR`L
SRWUHEDPD
SRVWX
SDQMD VD VYDNLP SRMHGLQLP SUHVWXSQLNRP
5HCLP L]YU^HQMD ND]QL WUHED GD WHCL VPDQMHQMX UD]OLND
NRMH SRVWRMH L]PH_X CLYRWD X ]DWYRUX L VORERGQRJ CLYRWD XNROLNR WH UD]OLNH SRNDCX WHCQMX GD RVODEH VPLVDR ]D RGJRYRUQRVW NRG ]DWYR UHQLND LOL SR^WRYDQMH GRVWRMDQVWYD QMHJRYH OLaQRVWL
3UH
SUHGX]HWL SRYUDWDN
QHJR
SRWUHEQH X
^WR
EXGH
PHUH
GUX^WYHQL
NRMH
CLYRW
ND]QD `H
7DM
LOL
PHUD
REH]EHGLWL
FLOM
PR`L
`H
L]GUCDQD
SRCHOMQR
]DWYRUHQLNX VH
SRVWL`L
MH
SRVWHSHQL V
RE]LURP
QD SRMHGLQH VOXaDMHYH ]DYR_HQMHP SULYUHPHQRJ UHCLPD ]D VORERGDQ CLYRW
NRML
VH
PRCH RUJDQL]RYDWL X
VDPRP ]DYRGX LOL
QHNRM GUXJRM
SRJRGQRM XVWDQRYL LOL SXWHP XVORYQRJ RWSXVWD SRG QDG]RURP NRML QH WUHED SRYHULWL SROLFLML QHJR NRML WUHED GD VH RVORQL QD HILNDVQX GUX^WYHQX SRPR`
6ORERGDQ %HOMDQVNL 0H_XQDURGQL SUDYQL VWDQGDUGL R NULYLaQRP SRVWXSNX
3UL SRVWXSDQMX VD ]DWYRUHQLFLPD QH WUHED QDJOD^DYDWL QML KRYR GD
LVNOMXaHQMH
VX
RQL
L
L]
GDOMH
GUX^WYD
QMHJRYL
YH`
QHSUHVWDQR
aODQRYL
=ERJ
WUHED
WRJD
LVWLFDWL
WUHED
aLQMHQLFX
SULEHJDYDWL
X
JUDQLFDPD PRJX`QRVWL VDUDGQML VD GUX^WYHQLP RUJDQLPD NDNR EL VH SUXCLOD
SRPR`
RVREOMX
ND]QHQLK
]DYRGD
X
QMHJRYRP
]DGDWNX
GUX^WYHQH UHKDELOLWDFLMH ]DWYRUHQLND VRFLMDOQL UDGQLFL NRML VDUD_XMX VD
]DYRGRP
VD
QMLKRYRP
ELWL
RG
LPDMX
]DGDWDN
SRURGLFRP
NRULVWL
8
L
GD
VD
JUDQLFDPD
RGUCH
L
SRSUDYH
GUX^WYHQLP NRMH
RGQRV
RUJDQLPD
]DGRYROMDYD
]DWYRUHQLND
NRML
]DNRQ
L
PX
PRJX
NRMH
VX
X
VNODGX VD L]GUCDYDQMHP ND]QH WUHED SUHGX]HWL NRUDNH X FLOMX RaXYD QMD JUD_DQVNRSUDYQLK LQWHUHVD SUDYD L] VRFLMDOQRJ RVLJXUDQMD L GUX JLK VRFLMDOQLK NRULVWL NRMH XCLYD ]DWYRUHQLN
=GUDYVWYHQH VOXCEH ]DYRGD WUXGL`H VH GD RWNULMX L GD OHaH VYH WHOHVQH L GX^HYQH QHGRVWDWNH L EROHVWL NRMH EL PRJOH ELWL VPHWQMD UHKDELOLWDFLML ]DWYRUHQLND 8 WRP FLOMX WUHED SUHGX]HWL VYDNR OHaHQMH PHGLFLQVNR KLUXU^NR LOL SVLKLMDWULMVNR NRMH VH VPDWUD ]D SRWUHEQR
SDQMD
L
3ULPHQD
GRVOHGQR
RYLK
WRPH
QDaHOD
HODVWLaDQ
]DKWHYD
VLVWHP
LQGLYLGXDOL]DFLMX
NODVLINDFLMH
SRVWX
]DWYRUHQLND
X
JUXSH
3RCHOMQR MH GDNOH GD RYH JUXSH EXGX VPH^WHQH X RGYRMHQH ]DYRGH JGH `H VYDND JUXSD PR`L GD GRELMH RGJRYDUDMX`H SRVWXSD QMH
3RCHOMQR
MH
GD
X
]DWYRUHQLP
]DYRGLPD
LQGLYLGXDOL]DFLMD
SRVWXSDQMD QH EXGH RPHWHQD VXYL^H YHOLNLP EURMHP ]DWYRUHQLND 8 QHNLP ]HPOMDPD VPDWUD VH GD EURMQR VWDQMH WDNYLK ]DYRGD QH WUHED GD
SUHOD]L
]DWYRUHQLND
8
RWYRUHQLP
]DYRGLPD
EURMQR
VWDQMH
WUHED WDNR_H GD VH VPDQML NROLNR MH JRG WR PRJX`H
6 GUXJH VWUDQH QLMH SRCHOMQR RGUCDYDWL ]DYRGH NRML EL ELOL VXYL^H PDOL GD EL VH X QMLPD PRJDR RUJDQL]RYDWL SRJRGQL UHCLP
2VORER_HQMHP ]DWYRUHQLND QH SUHVWDMX GXCQRVWL GUX^WYD
=ERJ WRJD WUHED UDVSRODJDWL GUCDYQLP LOL SULYDWQLP XVWDQRYDPD NRMH
6NXS PLQLPDOQLK SUDYLOD R SRVWXSDQMX VD ]DWYRUHQLFLPD
VX
VSRVREQH
SRVOH
GD
L]ODVND
RVORER_HQRP
L]
]DWYRUD
L
]DWYRUHQLNX
NRMH
`H
WHCLWL
SUXCH
GD
HILNDVQX
XEODCH
SRPR`
SUHGUDVXGH
X
SRJOHGX QMHJD L GD PX SRPRJQX GD VH YUDWL GUX^WYX
3RVWXSDQMH
3RVWXSDQMH VD OLFLPD RVX_HQLP QD ND]QX LOL PHUX OL^HQMD VORERGH
WUHED
GD
LPD
]D
FLOM
X
JUDQLFDPD
X
NRMLPD
WUDMDQMH
RVXGH
WR GRSX^WD GD VWYRUL NRG QMLK YROMX L VSRVREQRVW NRMH `H LP RPR JX`LWL
NDG
]DUD_XMX
EXGX
NROLNR
SX^WHQL LP MH
QD
VORERGX
SRWUHEQR
]D
GD
CLYH
CLYRW
SR^WXMX`L ]DNRQ
2YR
SRVWXSDQMH
L GD
WUHED GD
EXGH WDNYR GD RVX_HQLNH SRGVWLaH QD VDPRSR^WRYDQMH L QD UD]YLMDQMH RVH`DQMD RGJRYRUQRVWL
8 WX VYUKX WUHED VH QDURaLWR VOXCLWL UHOLJLMVNLP XVOXJD PD
X
]HPOMDPD
JGH
MH
WR
PRJX`QR
QDVWDYRP
VWUXaQLP
XSX`LYD
QMHP L REUD]RYDQMHP PHWRGLPD SRMHGLQDaQRJ XND]LYDQMD GUX^WYHQH SRPR`L
VDYHWRP X
SRJOHGX
]DSRVOHQMD
WHOHVQLP UD]YLMDQMHP L
L]
JUD_LYDQMHP NDUDNWHUD X VNODGX VD LQGLYLGXDOQLP SRWUHEDPD VYDNRJ ]DWYRUHQLND 7UHED YRGLWL UDaXQD R GUX^WYHQRM L NULPLQDOQRM SUR^OR VWL
RVX_HQLND
PRJX`QRVWLPD
R
QMHJRYLP
QMHJRYLP
WHOHVQLP
OLaQLP
L
GX^HYQLP
VNORQRVWLPD
R
VSRVREQRVWLPD GXCLQL
RVXGH
L
L R
QMHJRYLP L]JOHGLPD SRVOH RWSXVWD
=D VYDNRJ ]DWYRUHQLND RVX_HQRJ QD ND]QX LOL PHUX RGUH GHQRJ
WUDMDQMD
QMHJRYRJ
GLUHNWRU
SULMHPD
]DYRGD
LVFUSQL
GREL`H
L]YH^WDM
R
^WR
MH
SLWDQMLPD
PRJX`H
SUH
SRPHQXWLP
X
SRVOH SUHW
KRGQRP SDUDJUDIX 0H_X RYLP L]YH^WDMLPD WUHED XYHN GD VH QDOD]L L]YH^WDM OHNDUD DNR MH PRJX`QR SVLKLMDWUD R WHOHVQRP L GX^HYQRP VWDQMX ]DWYRUHQLND
,]YH^WDM L GUXJL SRWUHEQL SRGDFL VWDYL`H VH X SRVHEDQ GR VLMH 2YDM GRVLMH RGUCDYD`H VH XUHGQR L WDNR `H VH NODVLUDWL GD RG JRYRUQR RVREOMH PRCH GD JD SUHJOHGD NDGJRG VH ]D WLP XNDCH SR WUHED
6ORERGDQ %HOMDQVNL 0H_XQDURGQL SUDYQL VWDQGDUGL R NULYLaQRP SRVWXSNX
.ODVLILNDFLMD L LQGLYLGXDOL]DFLMD
&LOMHYL NODVLIONDFLMH WUHED GD EXGX
D
2GYDMDQMH
]DWYRUHQLND
NRML
EL
]ERJ
QMLKRYH
NULPLQDOQH
SUR^ORVWL LOL U_DYH VNORQRVWL YU^LOL ^WHWDQ XWLFDM QD GUXJH ]DWYRUHQL NH E 5DVSRUH_LYDQMH ]DWYRUHQLND X JUXSH GD EL VH RODN^DOR SR VWXSDQMH
VD
QMLPD
X
SRJOHGX
QMLKRYRJ
SRQRYQRJ
SULODJR_DYDQMD
GUX^WYX 8 JUDQLFDPD PRJX`QRVWL SRWUHEQR MH UDVSRODJDWL RGYRMH QLP ]DYRGLPD LOL SRVHEQLP RGHOMHQMLPD MHGQRJ ]DYRGD UDGL SRVWX SDQMD SUHPD UD]OLaLWLP JUXSDPD ]DWYRUHQLND 3RVOH SULMHPD X ]DYRG L SRVOH SURXaDYDQMD OLaQRVWL ]DWYR UHQLND RVX_HQRJ QD ND]QX LOL PHUX RGUH_HQRJ WUDMDQMD WUHED ^WR SUH SULSUHPLWL SURJUDP ]D SRVWXSDQMH SUHPD QMHPX QD RVQRYX SRGDWDND NRMLP VH UDVSRODCH R QMHJRYLP LQGLYLGXDOQLP SRWUHEDPD QMHJRYLP VSRVREQRVWLPD L QMHJRYRP GUX^WYHQRP VWDQMX
3RYODVWLFH
8
VYDNRP
]DYRGX
WUHED
]DYHVWL
VLVWHP
SRYODVWLFD
SULOD
JR_HQ UD]OLaLWLP JUXSDPD ]DWYRUHQLND L UD]OLaLWLP PHWRGLPD SRVWX SDQMD NDNR EL VH ]DWYRUHQLFL SRGVWDNOL QD GREUR SRQD^DQMH NDNR EL VH NRG QMLK UD]YLR VPLVDR ]D RGJRYRUQRVW L NDNR EL VH UD]YLR QMLKRY LQWHUHV L VDUDGQMD X SRJOHGX SRVWXSDQMD VD QMLPD
5DG
5DG ]D YUHPH L]YU^HQMD ND]QH QH VPH LPDWL SRQLCDYD MX`L NDUDNWHU
6YL RVX_HQLFL VX SRGYUJQXWL REDYH]L UDGD X] YR_HQMH UD aXQD R QMLKRYLP GX^HYQLP L IL]LaNLP VSRVREQRVWLPD NRMH `H XWYUGLWL OHNDU
6NXS PLQLPDOQLK SUDYLOD R SRVWXSDQMX VD ]DWYRUHQLFLPD
=DWYRUHQLFL WUHED GD VH EDYH SURGXNWLYQLP UDGRP NRML `H ELWL GRYROMDQ GD LK ]DSRVOL X WRNX WUDMDQMD UHGRYQRJ UDGQRJ GDQD
7DM
UDG
WUHED
X
JUDQLFDPD
PRJX`QRVWL
GD
EXGH
WDNYH
SULURGH GD VDaXYD LOL SRYH`D QMLKRYX VSRVREQRVW GD SRVOH SX^WDQMD QD VORERGX aDVQR ]DUD_XMX ]D VYRM CLYRW 3RWUHEQR MH REH]EHGLWL NRULVQR VWUXaQR REUD]RYDQMH ]DWYR UHQLFLPD NRML PRJX GD JD NRULVWH D QDURaLWR PODGLP ]DWYRUHQLFLPD
8
JUDQLFDPD
NRMH
RGJRYDUDMX
UDFLRQDOQRM
VWUXaQRM
VHOHN
FLML SRWUHEDPD DGPLQLVWUDFLMH L ]DYRGVNH GLVFLSOLQH ]DWYRUHQLFLPD WUHED RPRJX`LWL GD L]DEHUX YUVWX SRVOD NRML CHOH GD UDGH 2UJDQL]DFLMD L PHWRGL UDGD X ND]QHQLP ]DYRGLPD WUHED GD EXGX ^WR SULEOLCQLML RUJDQL]DFLML L PHWRGDPD NRMH YDCH ]D VOLaDQ UDG
L]YDQ
]DYRGD
NDNR
EL
VH
]DWYRUHQLFL
SULSUHPLOL
]D
QRUPDOQH
XVORYH UDGD X VORERGL 0H_XWLP LQWHUHV ]DWYRUHQLND L QMLKRYR VWUXaQR REUD]RYD QMH
QH
WUHED
GD
EXGH
SRGUH_HQR
CHOML
GD
VH
RVWYDUL
GRELW
RG
UDGD
]DWYRUHQLND
YRGD WUHED
,QGXVWULMVNLP
SRJRQLPD
L
HNRQRPLMDPD
ND]QHQLK
]D
SUYHQVWYHQR GD UXNRYRGL XSUDYD ND]QHQLK ]DYRGD D QH
SULYDWQL SUHGX]LPDaL .DG VX ]DWYRUHQLFL SRWUHEQL ]D SRVORYH NRML QH VWRMH SRG NRQWURORP XSUDYH RQL WUHED GD RVWDQX SRG QDG]RURP RVREOMD ND] QHQRJ
]DYRGD
/LFD
]D
aLML
VH
UDaXQ
L]YRGL
UDG
RVLP
DNR
VH
UDG
L]YRGL ]D GUXJH GUCDYQH XVWDQRYH WUHED GD SODWH DGPLQLVWUDFLML QRU PDOQX
XRELaDMHQX
QDGQLFX
]D
UDG
YRGH`L
XYHN
UDaXQD
R
XaLQNX
UDGL
]D^WLWH
VYDNRJ ]DWYRUHQLND
0HUH
SUHGRVWURCQRVWL
NRMH
VX
SURSLVDQH
VLJXUQRVWL L ]GUDYOMD VORERGQLK UDGQLND WUHED LVWR WDNR SUHGX]HWL L X ND]QHQLP ]DYRGLPD 7UHED GRQHWL RGOXNH R QDNQDGL ^WHWH ]DWYRUHQLFLPD ]D QH VUH`QH
VOXaDMHYH
SUL
UDGX
L
]D
SURIHVLRQDOQD
REROMHQMD
XVORYLPD NRML SR ]DNRQX YDCH ]D VORERGQH UDGQLNH
SRG
LVWLP
6ORERGDQ %HOMDQVNL 0H_XQDURGQL SUDYQL VWDQGDUGL R NULYLaQRP SRVWXSNX
0DNVLPDOQL EURM UDGQLK aDVRYD ]DWYRUHQLND GQHYQR LOL QHGHOMQR WUHED GD EXGH XWYU_HQ ]DNRQRP LOL DGPLQLVWUDWLYQLP SUD YLOQLNRP YRGHaL UDaXQD R SURSLVLPD LOL ORNDOQLP RELaDMLPD NRML VH SULPHQMXMX QD VORERGQH UDGQLNH
2YDNR XWYU_HQL aDVRYL WUHED GD RVWDYH MHGDQ GDQ RGPRUD QHGHOMQR L GRYROMQR YUHPHQD ]D QDVWDYX L RVWDOH GHODWQRVWL NRMH VX SUHGYL_HQH ]D SRVWXSDQMH L SUHYDVSLWDYDQMH ]DWYRUHQLND
5DG ]DWYRUHQLND WUHED GD EXGH SUDYLaQR QDJUD_HQ
3UDYLOQLNRP WUHED GR]YROLWL ]DWYRUHQLFLPD GD XSRWUHEH EDU MHGDQ GHR VYRMH QDJUDGH ]D NXSRYLQX RGREUHQLK SUHGPHWD QDPHQMH QLK ]D QMLKRYX OLaQX XSRWUHEX D GD GUXJL GHR QDJUDGH SR^DOMX VYRMRM SRURGLFL
3UDYLOQLNRP WUHED WDNRGH SUHGYLGHWL GD MHGDQ GHR QDJUDGH DGPLQLVWUDFLMD
]DGUCL
NDNR
EL
VH
VWYRULOD
X^WHGD
NRMD
`H
VH
SUHGDWL
]DWYRUHQLNX NDGD EXGH SX^WHQ QD VORERGX
1DVWDYD L YUHPH GRNROLFH
7UHED SUHGX]HWL PHUH NDNR EL VH UD]YLOD QDVWDYD ]D VYH ]DWYRUHQLNH
NRML
VX
X
VWDQMX
GD
MH NRULVWH SRGUD]XPHYDMX`L L
UHOL
JLR]QX QDVWDYX X ]HPOMDPD JGH MH WR PRJX`H 1DVWDYD ]D QHSLVPH QH
L
PODGH
]DWYRUHQLNH
WUHED
GD
EXGH
REDYH]QD
L
DGPLQLVWUDFLMD
WUHED QDG WLP SDCOMLYR GD EGL
8 JUDQLFDPD PRJX`QRVWL QDVWDYD NRMD VH SUXCD ]DWYRUHQL FLPD
WUHED
]DWYRUHQLFL
GD
EXGH
PRJOL
XVNOD_HQD
EH]
WH^NR`D
VD GD
VLVWHPRP QDVWDYH
MDYQH
VYRMH
QDVWDYH
NDNR
REUD]RYDQMH
EL
NDGD
EXGX SX^WHQL QD VORERGX
'D
EL
VH
]DWYRUHQLFL
WHOHVQR
L
GX^HYQR
GREUR
RVH`DOL
VYLP ]DYRGLPD WUHED RUJDQL]RYDWL ]DEDYX L NXOWXUQX GHODWQRVW
X
6NXS PLQLPDOQLK SUDYLOD R SRVWXSDQMX VD ]DWYRUHQLFLPD
'UX^WYHQL RGQRVL SRPR` SRVOH L]ODVND L] ]DYRGD
1DURaLWX SDCQMX WUHED SRNORQLWL RGUCDYDQMX L SREROM^DQMX RGQRVD L]PH_X ]DWYRUHQLND L QMHJRYH SRURGLFH DNR VX RQL SRCHOMQL X LQWHUHVX REHMX VWUDQD 2G VDPRJ SRaHWND RVXGH WUHED YRGLWL UDaXQD R EXGX`QRVWL ]DWYRUHQLND SRVOH QMHJRYRJ SX^WDQMD QD VORERGX =DWYRUHQLND WUHED SRGVWLFDWL L]YDQ
GD
RGUCDYD
ND]QHQRJ
L
]DYRGD
VWYDUD NRML
RGQRVH
EL
ELOL
VD
OLFLPD
L
RUJDQL]DFLMDPD
X LQWHUHVX QMHJRYH
SRURGLFH D
WDNR_H L X LQWHUHVX QMHJRYRJ VRSVWYHQRJ GUX^WYHQRJ SUHYDVSLWDQMD
6OXCEH
L
RUJDQL]DFLMH
VOXCEHQH
L
QHVOXCEHQH
NRMH
SUXCDMX SRPR` ]DWYRUHQLFLPD SX^WHQLP QD VORERGX GD SRQRYR QD_X VYRMH
PHVWR
X
GUX^WYX
WUHED
X
JUDQLFDPD
PRJX`QRVWL
GD
SULEDYH
RVORER_HQLP ]DWYRUHQLFLPD SRWUHEQD GRNXPHQWD L LVSUDYH R LGHQ WLWHWX GD LP REH]EHGH VWDQ ]DSRVOHQMH SULVWRMQR RGHOR NRMH RGJR YDUD NOLPL L JRGL^QMHP GREX NDR L SRWUHEQD VUHGVWYD GD VWLJQX GR RGUH_HQRJ
PHVWD
L
GD
PRJX
CLYHWL
QHSRVUHGQR
SRVOH
SX^WDQMD
QD
VORERGX 3UL]QDWL SUHGVWDYQLFL WLK RUJDQL]DFLMD WUHED GD LPDMX SULV WXSD
X
]DYRG
L
NRG
]DWYRUHQLND
2G
VDPRJ
SRaHWND
RVXGH
RG
QMLK
WUHED WUDCLWL PL^OMHQMH R SUHGOR]LPD ]D SUHYDVSLWDQMH RGUHGHQRJ ]DW YRUHQLND 3RCHOMQR MH GD GHODWQRVW RYLK RUJDQD EXGH ^WR YL^H FHQWUD OL]RYDQD
L
XVNOD_HQD
NDNR
EL
VH
QDMEROMH
PRJOL
LVNRULVWLWL
QMLKRYL
QDSRUL
%'X^HYQR EROHVQLLGX^HYQR QHQRUPDOQL ]DWYRUHQLFL 'X^HYQH EROHVQLNH QH WUHED GUCDWL X ]DWYRUX YH` WUHED SUHGX]HWL
PHUH
GD
VH
^WR
MH
PRJX`QR
GX^HYQR EROHVQD OLFD
SUH
SUHPHVWH
X
XVWDQRYH
]D
6ORERGDQ %HOMDQVNL 0H_XQDURGQL SUDYQL VWDQGDUGL R NULYLaQRP SRVWXSNX
=DWYRUHQLND
DQRUPDOQRVWL
WUHED
NRML
EROXMX
SRGYUJQXWL L
RG
GX^HYQLK
OHaHQMX X
HIHNWLYQLK
VWDQMD
L
VSHFLMDOQLP XVWDQRYDPD
NRMH VWRMH SRG VDQLWDUQRP XSUDYRP
=D YUHPH QMLKRYRJ ERUDYND X ]DWYRUX RYD OLFD WUHED VWD YLWL SRG QDG]RU OHNDUD
WUHED
/HNDUVND
GD
REH]EHGL
RGQRVQR
SVLKLMDWULMVND
SVLKLMDWULMVNR
OHaHQMH
L
VOXCED VYLK
ND]QHQLK
RVWDOLK
]DYRGD
]DWYRUHQLND
NRMLPD MH SRWUHEQR WDNYR OHaHQMH
3RCHOMQR
QDGOHCQLP
MH
GD
EXGX
RUJDQLPD
GD
VH
SUHGX]HWH
PHUH
SVLKLMDWULMVNR
X
OHaHQMH
VDJODVQRVWL QDVWDYL
VD
SRVOH
SX^WDQMD QD VORERGX DNR MH WR SRWUHEQR L GD VH REH]EHGL GUX^WYHQD SRPR` SVLKLMDWULMVNRJ NDUDNWHUD SRVOH SX^WDQMD QD VORERGX
&8KDS^HQD LOL SULWYRUHQDOLFD OLFH
8
XKDS^HQR
VOHGH`LP
LOL
RGUHGEDPD
RNULYOMHQR
]ERJ
QD]LYD
QHNH
VH
RNULYOMHQLp
SRYUHGH
NULYLaQRJ
VYDNR
]DNRQD
NRMH MH ]DGUCDQR X SROLFLMVNRP SULWYRUX LOL ]DWYRUX DOL NRMH MR^ QLMH RVX_HQR
2NULYOMHQL VH VPDWUD QHYLQLP L VD QMLP VH PRUD SRVWXSDWL NDR WDNYLP
1H GLUDMX`L X ]DNRQVNH RGUHGEH R ]D^WLWL OLaQH VORERGH QLWL X
RGUHGEH
NRMH
SUHGYLGDMX
SRVWXSDN
JRQMHQMD
RNULYOMHQLK
RQL
`H
XCLYDWL VSHFLMDOQL UHCLP SR NRPH VH VOHGH`D SUDYLOD RJUDQLaDYDMX GD XWYUGH JODYQH WDaNH
2NULYOMHQL WUHED GD EXGX RGYRMHQL RG ]DWYRUHQLND
0OD_L
]DWYRUHQLFL
WUHED
GD
EXGX
RGYRMHQL
RG
VWDULMLK
3R
SUDYLOX RQL WUHED GD VX ]DWYRUHQL X SRVHEQLP ]DYRGLPD
2NULYOMHQL
WUHED
GD
EXGX
VPH^WHQL
X
SRVHEQLP
VREDPD
XNROLNR QLVX X SLWDQMX UD]OLaLWL PHVQL RELaDML V RE]LURP QD NOLPX
6NXS PLQLPDOQLK SUDYLOD R SRVWXSDQMX VD ]DWYRUHQLFLPD
8 JUDQLFDPD NRMH RGJRYDUDMX RGUCDYDQMX SULPHUQRJ UHGD X ]DYRGX RNULYOMHQL PRJX DNR WR CHOH GD VH KUDQH R VYRP WUR^NX QDEDYOMDMX`L SRURGLFH
LOL
KUDQX SUHNR
VSROMD VYRMLK
SRVUHGVWYRP SULMDWHOMD
8
DGPLQLVWUDFLMH SURWLYQRP
SUHNR
VYRMH
DGPLQLVWUDFLMD
MH
GXCQD GD VH VWDUD R QMLKRYRM LVKUDQL
2NULYOMHQRP WUHED
GD
EXGH
GR]YROMHQR
GD
QRVL
VYRMH
PRUD
UD]OL
OLaQR RGHOR DNR MH RQR aLVWR L SULVWRMQR
$NR
RNULYOMHQL
QRVL
XQLIRUPX
]DYRGD
RQD
VH
NRYDWL RG XQLIRUPH RNULYOMHQLK OLFD
2NULYOMHQRP
WUHED
XYHN
RPRJX`LWL
GD
UDGL
DOL
RQ
QH
PRCH ELWL REDYH]DQ GD UDGL $NR UDGL WUHED GD EXGH QDJUD_HQ
6YDNRP RNULYOMHQRP WUHED GR]YROLWL GD R VYRP WUR^NX LOL R WUR^NX GUXJLK QDEDYOMD NQMLJH QRYLQH SRWUHEDQ SULERU ]D SLVDQMH NDR L GUXJD VUHGVWYD ]D UDG X JUDQLFDPD NRMH GR]YROMDYDMX LQWHUHVL VXGVNH LVWUDJH EH]EHGQRVWL L GREDU UHG X ]DYRGX
2NULYOMHQRP WUHED GR]YROLWL GD SULPD SRVHWH L QHJX VYRJ OLaQRJ
OHNDUD
LOL
]XEDUD
DNR
MH
QMHJRY
]DKWHY
UD]XPDQ
L
DNR
MH
X
VWDQMX GD ]D WR REH]EHGL WUR^NRYH
2NULYOMHQRP WUHED SUXCLWL PRJX`QRVW GD RGPDK REDYHVWL VYRMX SRURGLFX R VYRP OL^HQMX VORERGH NDR L GD XCLYD VYH UD]XPQH SRYODVWLFH GD EL PRJDR VWDMDWL X YH]L VD VYRMRP SRURGLFRP L VYRMLP SULMDWHOMLPD L GD EL PRJDR SULPDWL SRVHWH WLK OLFD SRG MHGQRP RJ UDGRP
NRMD
VH
RGQRVL
QD
RJUDQLaHQMD
L
QDG]RU
NRML
VX
SRWUHEQL
X
LQWHUHVX VXGVNH LVWUDJH EH]EHGQRVWL L GREURJ UDGD X XVWDQRYL
2NULYOMHQRP WUHED GR]YROLWL GD ]DKWHYD SRVWDYOMDQMH EUD QLRFD
SR
VOXCEHQRM
GXCQRVWL
NDGD
MH
WR
SUHGYL_HQR
L
GD
SULPD
SRVHWH DGYRNDWD X YH]L VD VYRMRP RGEUDQRP 7UHED PX RPRJX`LWL GD
SULSUHPL
WUHED
PX
L
GDWL
GD
SUHGD
SULERU
DGYRNDWX
]D
SLVDQMH
SRYHUOMLYD DNR
WR
XSXWVWYD
]DWUDCL
8
6DVWDQFL
WX
VYUKX
L]PH_X
RNULYOMHQRJ L QMHJRYRJ DGYRNDWD PRJX ELWL QD GRPDNX YLGD VOXCEH QLND SROLFLMH LOL ]DYRGD DOL QH L QD GRPDNX QMHJRYRJ VOXKD
6ORERGDQ %HOMDQVNL 0H_XQDURGQL SUDYQL VWDQGDUGL R NULYLaQRP SRVWXSNX
'/LFD RVX_HQD]ERJ GXJRYDLQD FLYLOQL]DWYRU ]ERJ
RGOXNRP ELWL
8
]HPOMDPD
GXJRYD QD
LOL
GUXJH
RVQRYX
SRGYUJQXWL
X
NRMLPD
RGOXNH
QHNULYLaQRJ
YH`LP
]DNRQRGDYVWYR
]DWYRUD
NRML
SRVWXSND
RJUDQLaHQMLPD
QLWL
VX
WL
VH
SUHGYL_D
L]UHaHQL
]DWYRUHQLFL
VD
QMLPD
]DWYRU
VXGVNRP QH
VPH
PRJX
VWURCLMH
SRVWXSDWL QHJR ^WR MH SRWUHEQR GD VH RVLJXUD EH]EHGQRVW L RGUCL UHG 3RVWXSDQMH
VD
QMLPD
QH
WUHED
GD
EXGH
QHSRYROMQLMH
RG
SRVWXSDQMD
VD RNULYOMHQLPD LSDN VD RJUDGRP HYHQWXDOQH REDYH]H QD UDG
( /LFDNRMDVX XKDS^HQDLOLSULWYRUHQD D QLVX RNULYOMHQD
1H
JUD_DQVNLP XKDS^HQD RGHOMDN
&
D
GLUDMX`L L
X
RGUHGEH
SROLWLaNLP
QLVX
RNULYOMHQD
GUXJRJ
GHOD
aODQD
SUDYLPD XCLYDMX
OLFD
0HGXQDURGQRJ NRMD
]D^WLWX
2GJRYDUDMX`H
VX
NRMX
RGUHGEH
SDNWD
SULWYRUHQD
MDPaH
RGHOMND
SUYL $
R LOL
GHR
L
GUXJRJ
GHOD PRJX VH WDNR_H SULPHQMLYDWL NDGD MH WR NRULVQR ]D RYX SRVHEQX NDWHJRULMX OLFD OL^HQLK VORERGH XNROLNR QLVX SUHGX]HWH QLNDNYH PH UH NRMH ]QDaH GD EL SUHYDVSLWDYDQMH LOL UHKDELOLWDFLMD PRJOL GD EXGX SULPHQMHQL X ELOR NRP SRJOHGX QD OLFD NRMLPD VH QH VWDYOMD QD WHUHW QLMHGQR NULYLaQR GHOR
3UHYRG SUHX]HW L] $UKLYD ]D SUDYQH L GUX^WYHQH QDXNHp EU 3UHYHR SURI 1 6U]HQWL` ,]X]HWDN MH SUDYLOR EU NRMH MH XVYRMHQR QD 9,, NRQJUHVX 81 ]D VSUHaDYDQMH NULPLQDOLWHWD L SRVWX SDQMH SUHPD SUHVWXSQLFLPD JRGLQH X 0LODQX
6WDQGDUG0LQLPXP5XOHVIRUWKH 7UHWDPHQWRI3ULVRQHUV 35(/,0,1$5
