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JFJ NJ MJDHFCPJ GBJ FJjYCFJM JDGCQEGKFDW XL GBCD DYPDJHGCKL NJ YDJ
GK
DCVLEI GBJ RYIITQKMJI PEDJM SEFGCEI IC`JICBKKM JDGCQEGKFDW
ABCD CD E HKLOJLCJLG SIEHJ GK MCDHYDD JDGCQEGCKL KR ^
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^ JGHWGBEG EFJ YDJM EFJ HKLDCDGJLG^ CWJWGBEG GBJZ DBKYIM HKLOJFVJ CL SFKPEPCICGZ GK GBJ
FJIJOELG jYELGCGCJD ED VFKND^ YLMJF GBJ IKHEI LJCVBPKYFBKKM HCFHYQDGELHJD ¡WW ABJFJ
EFJ CL REHG DJOJFEI SKDDCPCICGCJD RKF DEZ
BJFJ^ GZSCHEIIZ FELVCLV RFKQ DEZ
GBEG YDJD JDGCQEGKFD RFKQ GBJ LEFFKN QKMJI GK
GBEG JQSIKZD JDGCQEGKFD CL GBJ
RYIIJDGa
dTSEFEQJGJF QKMJIW ABJ ]FDGTKFMJF IEFVJTDEQSIJ GBJKFZ GBEGNJMJOJIKS MKJD LKG
MCDGCLVYCDB PJGNJJL GBJDJ JDGCQEGKFD^ ED IKLV ED GBJZ EFJ HKLDCDGJLGW iJ NCII CL SFEHGCHJ
GZSCHEIIZ SFJRJF GBJ RYIITQKMJI PEDJM OJFDCKLD^ SEFGIZ RKF FJEDKLD KR QKMJITFKPYDGLJDDW JJ
f ELM f ¡ RKF SEFEIIJI MCDHYDDCKLW
iJ DGEFG NCGB GBJ CLRKFQEGCKL QEGFC[ ^RKF NBCHB NJ YDJGBJRYIITQKMJI PEDJM JDGCQET
GKF WW gFKQ GBCD QEGFC[ NJ J[GFEHG RYFGBJF JDGCQEGJD ^
^
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NCGB HKLDJjYJLG
QEGFCHJDW iJYDJ RYIITQKMJIPEDJM SEFEQJGJF
JDGCQEGJD EIDK RKF JDGCQEGCLV GBJ a
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TOJHGKF RYLHGCKL
KR JHGCKL ^ VCOCLV
M
gCLEIIZ GBJFJ EFJ E HKYSIJ KRKSGCKLD NBJL JDGCQEGCLV GBJSEFGCEI MJFCOEGCOJD KR
^
NBCHB EFJ FJjYCFJM RKF EFFCOCLV EG
ELM
W XL QKDG KR KYF J[EQSIJD NJ EFJ EPIJ GK ]LM
J[SICHCG J[SFJDDCKLD RKF GBJDJ^ ED RKF GBJ JEFICJF J[EQSIJD CL GBCD DJHGCKL^ ERGJF NBCHB NJ
EVECL CLDJFG SEFEQJGJF JDGCQEGJD RFKQ GBJ RYIIJDG QKMJIW JLJFEI LYQJFCHEI FJHCSJD QCVBG
EIDK PJ YDJM CL DCGYEGCKLD NBJFJ J[SICHCG J[SFJDDCKLD EFJ BEFMJF GK HKQJ PZW
gKF
KR W¡^NJ CLDJFG JDGCQEGJD EIFJEMZ MJDHFCPJM RKF GBJSEFGCEI MJFCOEGCOJD
KR NCGB FJDSJHG GK
^
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^ ELM IC`JNCDJ RKF
ELM
W ABJ FJQECLCLV
CLGJVFEI
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CD JDGCQEGJM ED
M
gKF BELMICLV GBJ QKMJI DJIJHGCKL SFKPIJQD EDDKHCEGJM NCGB HKLMCGCKLEI QJMCEL KF
jYELGCIJ DYFOCOEI MCDGFCPYGCKLD^ KF QKFJ VJLJFEIIZ DCGYEGCKLD NBJFJ JQQE CD ESSICHEPIJ^
KLJ LJJMD JDGCQEGJD KR ^
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W iJ YDJ
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HEDJ NJ JQSIKZ
J[S
NCGB
IKV¡W CQCIEFIZ NJ YDJ
J[S
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W
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ABCD DJHGCKL YDJD GBJKFZ MJOJIKSJM CL JEFICJF DJHGCKLD GK SFKSJFIZ ELEIZDJ GBJ LEGYFEI
SEFGCEITIC`JICBKKM PEDJM OJFDCKL KR GBJ eXf^ ELM GBJL VKJD KL GK MJFCOJ E RKHYDDJM CLT
RKFQEGCKL HFCGJFCKL^GBJ gXf ELLKYLHJM CL JHGCKL
W
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BEUEFMD FJVFJDDCKL QKMJIDW
2 s z05 {2 0 302~
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PJ GBJ JDGCQEGKF KR
CL GBJ RYII fK[
QKMJI NCGB EIIa
d HKOEFCEGJD CLHIYMJMW gFKQ JQQE ^
ABJ LEGYFEI DGEGCDGCH QKLCGKFCLV RKF EPDJLHJ KF SFJDJLHJ KR
CD
NCGB
MJ]LJM CL JHGCKL
W
W
ABJ e`EC`JCLRKFQEGCKL HFCGJFCKL eXf CDVJLJFEIIZ ESSICHEPIJ RKF HKQSEFCLVHKQSJGCLV
SEFEQJGFCH QKMJID
DJJ JWVW
YFLBEQ ELM eLMJFDKL ¡¡
RKF E PFKEM CLGFKMYHGCKL NCGB
ESSICHEGCKLD GK QELZ `CLMD KR QKMJIDW ABJ EFVYQJLGD PJBCLM CGD HKLDGFYHGCKL MK LKG
LJHJDDEFCIZ ESSIZ GK GBJ fK[ FJVFJDDCKL QKMJI^ BKNJOJF^ MYJ GK CGD DJQCSEFEQJGFCH LEGYFJW
iJ EFJ LKG ENEFJ KR ELZ KGBJF EGGJQSGD CL GBJ ICGJFEGYFJ GK MJ]LJ KF MCDHYDD EDSJHGD KF
SJFRKFQELHJ KR GBJ eXf RKF GBJ fK[ QKMJIW iJ EFJ BKNJOJF RFJJ GK MJ]LJ ELM ELEIZDJ
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CD GBJ SEFGCEI IC`JICBKKM RYLHGCKL JLVEVCLV
^ DJJ ¡WW ABJ DYPQKMJI NCGB IEFVJDG eXf DHKFJ W¡ CD DJIJHGJMW
e YDJRYI FJSFJDJLGEGCKL KR eXf
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HEL PJ MJFCOJM^ CL GJFQD KR
ELM BJLHJ
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DBKN RFKQ GBCD GBEG
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FQKMJI CD HBKDJL
HB
F
CD PCVVJF GBEL EII KGBJF
NBJFJ
ELM
EFJ ED CL
W
W eD EL CIIYDGFEGCKL^EDDYQJ NJ
NCDB GK DJIJHG JCGBJF GBJ LEFFKN QKMJI NCGB KLIZ
KF GBJ RYIIJDG QKMJI NCGB EII KR
W
ABJL
HB
RYII
HBRYII
F
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E SFKPEPCICGZ GBEG CLHFJEDJD NCGB GBJ MCDGELHJ PJGNJJL
ELM UJFKW
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CL E DJLDJ MKJD LKG HEFJ EPKYG
KF EPKYG BKN NJII GBJ CLMCFJHGIZ DJIJHGJM
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SJFRKFQDW _YFgXf QJGBKMD^GKPJMJOJIKSJM LKN^QEZ PJ VJEFJM GKNEFMD VKKM JDGCQEGCKL
SJFRKFQELHJ RKF
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GBEG RKF RKHYD JDGCQELMD
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ICQCGCLV FCD` HEL PJ J[SFJDDJM ED
FCD`
RKF GBJ FJIJOELG
^
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W iBJL GBJ RYII a
dTSEFEQJGJF QKMJI CD YDJM^ RKF J[EQSIJ^
ELM GBJ FCD` RYLHGCKL CD
^ HKLDGELG CL
W ABJ KGBJF J[GFJQJ
CD GK DJIJHG GBJ LEFFKN aTSEFEQJGJF QKMJI^ RKF NBCHB
^ IJEMCLV GK FCD` RYLHGCKL
W
XL GBJDJ FCD` J[SFJDDCKLD^jYELGCGCJD ^
^
^
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QEZ EII PJ JDGCQEGJM HKLDCDGJLGIZ^
NCGB KFMCLEFZ
SFJHCDCKL^ DJJ GBJ FJHCSJD KR JHGCKL
W
W ABJ KLIZ jYELGCGZ GBEG HEL
LKG PJ JDGCQEGJM HKLDCDGJLGIZ CD
W gKF GBCD jYELGCGZ^ EPKYG GBJ PJDG NJ HEL MK CD
^ CL GBEG
^ E OEFCEPIJ NCGB QJEL
W ABYD NJ BEOJ
EL EDZQSGKGCHEIIZ YLPCEDJM FCD` JDGCQEGKF
FCD`
RKF JEHB HELMCMEGJ QKMJI W ABJ ^ KF gXf^HKLDCDGD CL DJIJHGT
CLV GBJ QKMJI NCGB DQEIIJDG JDGCQEGJM FCD`W
XG CD YDJRYI CL SFEHGCHJ GK HKQSYGJ JEHB KR GBJDJ FCD` LYQPJFD^ DCLHJ GBJZ BEOJ MCFJHG
CLGJFSFJGEGCKL ED JDGCQEGJDKR DEQSIJ DCUJGCQJDQJEL DjYEFJM JFFKFW _LJ QEZ EIDKYDJRYIIZ
MCDSIEZ gXf
FCD`
^ DCLHJ GBJDJ EFJ JDGCQEGJD KR FKKG QJEL DjYEFJM JFFKFW
GEGCDGCHCELD EFJ YDJM GK CLGJFSFJGCLV DGELMEFM JFFKFD^ CWJW JDGCQEGJM DGELMEFM MJOCEGCKLD^
GBJ YPCjYCGKYD HKQSELCKLD GK JDGCQEGJD KR QKMJI SEFEQJGJFDW
JFJ NJ DYVVJDG DYSSIZCLV
EIDK GBJ gXf
LYQPJFD^ EIKLV NCGB
gXf DHKFJD MJ]LJM CL GBJ LJ[G SEFEVFESBW
ELM VCOJ E HFCDSJF^ PYG JjYCOEIJLG^ OJFDCKL KR GBJ gXfW gKF GBCD NJ DYPGFEHG GBJ HKLDGELG
NBCHB MKJD LKG EhJHG QKMJI HKQSEFCDKL^ ELM RYFGBJF DYPGFEHG KYG GBJ jYELGCGZ
^ NBCHB CD EIDK HKQQKL GK JEHB FCD` JDGCQEGJW ABJDJ FJEFFELVJQJLGD IJEM GK
gXf
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ELM
DJJ f ¡
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W
ABCD HKLOJZD PJGGJF GBJ DGEGCDGCHEI PEIELHCLV VEQJ PJGNJJL QKMJIICLV PCED GBJ ]FDG GJFQ
ELM JDGCQEGCKL OEFCEPCICGZ GBJ DJHKLM GJFQ
W ABJ gXf DJJD GK CG GBEG EL KSGCQEI QKMJI
CD DJIJHGJM RKF GBJ SEFGCHYIEF GED` EG BELM
MChJFJLG JDGCQELMD
HKFFJDSKLM GK
MChJFJLG
ELM MChJFJLG W
iJBEOJFJEHBJM RKFQYIEJ WWCL GBJRFEQJNKF` KRJHGCKL ^YDCLVCL SEFGCHYIEF
JQQE
^ HKOJFCLV E PFKEM OEFCJGZ KR DCGYEGCKLDW gKF GBJ HEDJ KR jYELGCIJ DYFOCOEI GCQJ
JDGCQEGKFD NJ LJJM GK JQSIKZ JQQE FEGBJF GBEL JQQE
^ NCGB E QKFJ HKQSICHEGJM
ICQCG MCDGFCPYGCKLW
KNJOJF^ ED EFVYJM ERGJF JQQE ^ GBJ DEQJ DGFYHGYFJ JQJFVJD NBJL
NJ NKF` NCGB
^ NBCHB QJELD GBEG GBJ gXf RKFQYIEJ EPKOJ DGCII NKF`^ NCGB
FJSIEHCLV
W
m
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CL f ¡ RKF VJLJFEI SEFEQJGFCH QKMJIDW ABEG GBJKFZ HKYIM BKNJOJF LKG PJ ESSICJM
MCFJHGIZ GK GBJ SFKSKFGCKLEI BEUEFMD QKMJI^ SEFGIZ PJHEYDJ KR CGD DJQCSEFEQJGFCH LEGYFJ
ELM SEFGIZ PJHEYDJ GBJ SEFGCEI IC`JICBKKM MKJD LKG CLOKIOJ GBJ PEDJICLJ BEUEFMW
m
>= @ @ ABJ FCD` JDGCQEGJ
W
CD GBJ DYQ KR E OEFCELHJ ELM E DjYEFJM PCED
JDGCQEGJW ABJDJ GJFQD HEL NCGB E ICGGIJ EIVJPFE CL HKQPCLEGCKL NCGB
W
PJ J[SFJDDJM ED
ELM
MJQKLDGFEGCLV EIDK GBEG
GZSCHEIIZ NCII CLHFJEDJ NCGB ^ NCGB E DCUJ JDDJLGCEIIZ
MJGJFQCLJM PZ
W XG HEL LJOJFGBJIJDD BESSJL GBEG GBJ JOJLG
LJVICVCPIJ PCED
GE`JD SIEHJ^ CL NBCHB HEDJ NJ HBKKDJ GK FJMJ]LJ
ED UJFK^ GK EOKCM JDGCQEGCLV GBJ
DjYEFJM PCED NCGB E LJVEGCOJ LYQPJFW ABYD NJ FJMJ]LJ
FCD`
ELM
gXf
RKF GBKDJ CLDGELHJD NBJFJ GBJ LJVICVCPIJ PCED JOJLG
W
GE`JD SIEHJW