5($' ),567 7KDQN \RX IRU SXUFKDVLQJ WKH = 5HDG WKLV PDQXDO FDUHIXOO\ LQ RUGHU 8VDJH RI WKH 7UDQVPLWWHU 5HDG )LUVW WR REWDLQ PD[LPXP SHUIRUPDQFH IURP WKH XQLW .
&217(176 7UDQVPLWWHU 8VDJH RI WKH 5HDG )LUVW &RQWHQWV 1RWHV RQ 6DIH 8VDJH )HDWXUHV 8VDJH RI WKH 7UDQVPLWWHU 0DLQ 0HQX 1DPHV RI 3DUWV RI WKH 7UDQVPLWWHU /&' 6FUHHQ 7DEOH 0DLQ 0HQX /&' 6FUHHQ 7DEOH )XQFWLRQ 0HQX +RZ WR ,QVHUW %DWWHULHV +RZ WR 8VH 7UDQVPLWWHU )XQFWLRQ 0HQX )HDWXUHV &RQQHFWLQJ WKH 5 HFHLYHU 1RWHV RQ ,QVWDOOLQJ /&' 6FUHHQ DQG .
&217(176 7UDQVPLWWHU 'HVFULSWLRQ ,QGH[ :DUUDQW\ DQG 6HUYLFH ,QGH[ 6SHFLILFDWLRQV 'HVFULSWLRQ 1RWHV RQ ,QVWDOOLQJ 1RWHV RQ ,QVWDOOLQJ &RQQHFWLQJ W KH 5HFHLYHU )XQFWLRQ 0HQX &RQQHFWLQJ WKH 5HFLHYHU 0DLQ 0HQX )HDWXUHV 0RGHO 6HOHFW (7 3RVLWLRQ $XWR 'LVSOD\ 6XE 7ULP $ % 6 $FWLYH %UDNH 6\VWHP 7KURWWOH 6SHHG 7KURWWOH 3XQFK 7KURWWOH &XUYH 7KURWWOH %UDNH 7K
)25 7+( 6$)( 86$*( 2) 7+,6 81,7 7UDQVPLWWHU 8VDJH RI WKH )RU WKH 6DIH 8VDJH RI 7KLV 8QLW :LWK WKH QDWXUH RI UDGLR FRQWUROOHG PRGHOV PLVRSHUDWLRQ ZLOO UHVXOW LQ GDQJHU ,Q RUGHU WR DYRLG WKHVH FLUFXPVWDQFHV DQG WR XVH WKLV XQLW VDIHO\ SOHDVH UHDG WKH FRQWHQWV WKRURXJKO\ )HDWXUHV ([SODQDWLRQ RI :DUQLQJV DQG 6LJQV 0HDQLQJV RI ZDUQLQJV DQG VLJQV ,Q WKLV PDQXDO WKH IROORZLQJ ZDUQLQJV DQG VLJQV VKRXOG EH QRWHG FDUHIXOO\ 0DLQ 0HQX 'DQJHU )DLOXUH WR REVHUYH WKH PDWWHU GLVFXVVHG LQ VXFK D
)25 7+( 6$)( 86$*( 2) 7+,6 81,7 %H VXUH WR XVH JHQXLQH -5 SURGXFWV H J WUDQVPLWWHU UHFHLYHU (6& DQG RWKHU RSWLRQDO SDUWV :H FDQQRW DVVXPH DQ\ UHVSRQVLELOLW\ IRU WKH XVH RI RWKHU FRPSDQLHV¶ SURGXFWV ZLWK WKLV XQLW )HDWXUHV &DXWLRQ %H FDUHIXO QRW WR UHYHUVH WKH SRODULW\ RI WKH WUDQVPLWWHU DQG WKH UHFHLYHU 5HYHUVH SRODULW\ FRXOG GDPDJH WKH XQLW 8VDJH RI WKH &DXWLRQ 7UDQVPLWWHU 1RWHV %HIRUH ,QVWDOODWLRQ &DXWLRQ 1RWHV RQ 'ULYLQJ 6DLOLQJ :KHQ WXUQLQJ RQ WKH SRZHU VZLWFK EH VXUH
)25 7+( 6$)( 86$*( 2) 7+,6 81,7 7UDQVPLWWHU 8VDJH RI WKH 1RWHV RQ 'ULYLQJ 6DLOLQJ :DUQLQJ :DUQLQJ ,Q WKH FDVH RI DQ HOHFWULF SRZHUHG FDU EH VXUH WR GLVFRQQHFW WKH 1L &G EDWWHU\ DIWHU UXQQLQJ ,W PD\ FDXVH ILUH RU FDXVH WKH PRGHO WR UXQ RXW RI FRQWURO LI WKH VZLWFK LV OHIW RQ )HDWXUHV :DUQLQJ 6WRUH WKH WUDQVPLWWHU EDWWHULHV DQG PRGHOV RXW RI UHDFK RI FKLOGUHQ 'DPDJH DQG RU ERGLO\ LQMXU\ PD\ UHVXOW IURP WKH FKHPLFDOV LQ WKH HTXLSPHQW &DXWLRQ %H VXUH WR GLVFRQQHFW WKH EDW
1$0(6 2) 3$576 2) 7+( 75$160,77(5 8VDJH RI WKH 7UDQVPLWWHU +RRN (7 /HYHU 7KURWWOH $ % 6 ,QGLFDWRU )HDWXUHV $QWHQQD 7KURWWOH $FFHOHUDWLRQ ,QGLFDWRU 7KURWWOH 6SHHG ,QGLFDWRU 0LQXV NH\ 6WHHULQJ :KHHO -RJ 'LDO [ /&' 'LVSOD\ (7 /HYHU 0DLQ 0HQX 3OXV NH\ (QWHU .H\ %DFN .
6&5((1 7$%/( 0$,1 0(18 7UDQVPLWWHU 8VDJH RI WKH 7KHVH VFUHHQV DUH GLVSOD\HG ZKHQ WKH PDLQ PHQX LV RSHQHG 3OHDVH VHH HDFK UHIHUHQFH SDJH IRU D GHWDLOHG RSHUDWLRQ PHWKRG DIWHU HDFK VFUHHQ LV RSHQHG ,QLWLDO 6FUHHQ 3OXV .H\ 0LQXV .H\ )HDWXUHV -RJ 'LDO 0DLQ 0HQX (QWHU .H\ &KDQJH 0HQX %DFN .
6&5((1 7$%/( )81&7,21 0(18 3OHDVH VHH HDFK UHIHUHQFH SDJH IRU D GHWDLOHG RSHUDWLRQ PHWKRG DIWHU HDFK VFUHHQ LV RSHQHG 7KH IXQFWLRQ PHQX RSHQV ZKHQ -RJ 'LDO RU NH\V DUH RSHUDWHG 7KH IXQFWLRQV RQ WKH ULJKW PDNH XS WKH IXQFWLRQ PHQXV $OO IXQFWLRQ PHQXV ZLOO EH GLVSOD\HG ZKHQ 0DVWHU LV VHOHFWHG IURP WKH PHQX ,Q &XVWRP DQG &XVWRP RQO\ WKH VHW FRQWHQW LV GLVSOD\HG 7R GLVSOD\ DOO SOHDVH UHIHU W R &KDQJH 0HQX 3 3 DGYLFH &DQQRW UHWXUQ WR LQLWLDO VFUHHQ :KH
+RZ 7R ,QVHUW %DWWHULHV 8VDJH RI WKH 7UDQVPLWWHU 2SHQLQJ WKH &RYHU :KLOH SUHVVLQJ LQ WKH GLUHFWLRQ RI DUURZ VOLGH WKH EDWWHU\ FRYHU LQ WKH GLUHFWLRQ RI DUURZ )HDWXUHV ,QVHUWLQJ %DWWHULHV RSWLRQDO 0DLQ 0HQX ,QVHUW HLJKW ³$$´ GU\ FHOO EDWWHULHV LQ WKH FRUUHVSRQGLQJ GLUHFWLRQ WKDW PDWFKHV WKH SOXV RU PLQXV VLJQV IRXQG RQ WKH GU\ FHOO EDWWHU\ ER[ 5HSODFH WKH GU\ FHOO EDWWHU\ ER[ LQWR WKH WUDQVPLWWHU ZLWK WKH ER[¶V WHUPLQDOV PDWFKLQJ WKH WHUPLQDOV RI WKH WUDQVPLWWHU
+RZ WR ,QVHUW %DWWHULHV 8VDJH RI WKH 7UDQVPLWWHU 'LVFKDUJLQJ %DWWHU\ 3DFNV 3OHDVH QRWH WKH EDWWHU\ SDFN FDQ QRW EH GLVFKDUJHG XVLQJ FKDUJLQJ MDFN 3OHDVH UHPRYH EDWWHU\ SDFN IURP PDLQ XQLW IRU GLVFKDUJLQJ )HDWXUHV 5HSODFLQJ &RORU 3DG DQG *ULS +RZ WR UHPRYH SDG RU JULS 3XOO LQ WKH GLUHFWLRQ RI WKH DUURZ DQG UHPRYH WKH SDG UHPRYHV XVLQJ \RXU ILQJHUQDLO 0DLQ 0HQX 3DG $IWHU H[SDQGLQJ WKH ORZHU VLGH WKH ZKROH JULS SXOOV LQ WKH GLUHFWLRQ RI WKH DUURZ +RZ WR DWWDFK SDG RU JULS
+RZ WR 8VH 7UDQVPLWWHU 8VDJH RI WKH 7UDQVPLWWHU 3UHSDUDWLRQ ,QVHUW GU\ FHOOV RU EDWWHU\ SDFN LQWR WKH WUDQVPLWWHU 3 %H VXUH WR FKDUJH EDWWHU\ SDFN EHIRUH XVH )HDWXUHV DGYLFH 7KH EDWWHU\ ZLOO ODVW ORQJHU LI WKH 5) PRGXOH LV GHWDFKHG ZKHQ RQO\ WKH WUDQVPLWWHU LV RSHUDWHG ,W LV DGYLVHG WR UHPRYH WKH 5) PRGXOH WR SUHYHQW FRQIOLFWV ZLWK RWKHU YHKLFOHV 3OHDVH UHIHU WR 3 ' 6 & SDJH 0DLQ 0HQX 6ZLWFKLQJ WKH 3RZHU 2Q $ EOXH SRZHU LQGLFDWRU DW WKH ULJKW RI WKH PDLQ ERG\ OLJK
+RZ WR 8VH 7UDQVPLWWHU 8VDJH RI WKH 7UDQVPLWWHU 2SHUDWLRQ &RQFHUQLQJ 0HPRU\ 5HVHW D VSHFLILF PRGHO PHPRU\ WR IDFWRU\ GHIDXOW VHWWLQJ 6HOHFW 0(0 5(6(7 IURP WKH IXQFWLRQ PHQX DQG SUHVV HQWHU &XUUHQW PRGHO PHPRU\ ZLOO EH LQLWLDOL]HG 3 6HOHFW 02'(/ &23< IURP WKH IXQFWLRQ PHQX DQG SUHVV HQWHU 3 )HDWXUHV 7UDQVIHUULQJ PRGHO PHPRU\ VHWWLQJ WR RWKHU PRGHO PHPRU\ 3OHDVH H[HFXWH )RUPDW LQ WKH PDLQ PHQX ZKHQ \RX XVH WKH 'DWD 3DFN 3 8VLQJ WKH 2SWLRQDO )HDWXUHV '6& IXQFWLRQ
$%287 7+( 23(5$7,21 2) 7+( /&' 6&5((1 8VDJH RI WKH 7UDQVPLWWHU ,Q WKLV WUDQVPLWWHU DVVXPH PRVW VHWWLQJV WR EH DQ RSHUDWLRQ V\VWHP 8VLQJ WKH -RJ 'LDO DQG WKH (QWHU DQG %DFN NH\V WR HQDEOH LQWXLWLYH RSHUDWLRQ 0RUHRYHU WKH QHZO\ DGRSWHG FKDQJH PHQX V\VWHP FDQ EH HIILFLHQWO\ XVHG IRU PRUH VHW VFUHHQV )HDWXUHV 1DPH RI NH\ 1DPHV RQ ,QLWLDO 6FUHHQ 3OXV .H\ 3UHVHQW PRGHO PHPRU\ QXPEHU DQG PRGHO QDPH 0LQXV .
&KDQJH 0HQX 6\VWHP ZDV LQVWDOOHG 7KLV V\VWHP ZDV GHVLJQHG WR TXLFNO\ FDOO XS WKH PRUH FRPPRQO\ XVHG RSHUDWLRQV E\ VZLWFKLQJ WKH 0HQX /LVW LQ WKH UHJLVWHU %\ UHJLVWHULQJ WKH FRQWHQWV LQWR &86720 RU &86720 WKH PHQX EHFRPHV D YHU\ HDVLO\ PDQDJDEOH V\VWHP )XQFWLRQV FDQ EH DGGHG GHOHWHG DQG SODFHG LQ WKH RUGHU WKDW \RX ZRXOG OLNH IRU TXLFN DQG HDV\ DFFHVV )RU LQVWDQFH &86720 FDQ KDYH D ORW RI LWHPV XVHG IRU SUDFWLFH &86720 UHJLVWHUV WKH LWHPV XVHG IRU WKH UDFH ,I 0DVWHU LV XVHG DOO LWHPV
,QGLFDWRU :DUQLQJ 8VDJH RI WKH 7UDQVPLWWHU $ERXW WKH 'LVSOD\ RI (DFK ,QGLFDWRU 7KURWWOH $ % 6 ,QGLFDWRU 7KURWWOH 6SHHG ,QGLFDWRU 7KURWWOH $FFHOHUDWLRQ ,QGLFDWRU :KHQ 7KURWWOH 6SHHG 3 LV DFWLYDWHG LW IODVKHV $OVR LI WKH IXQFWLRQ 2Q 2II RI WKH 7KURWWOH 6SHHG LV DOORFDWHG LQ WKH (7 DQG D EXWWRQ LW ZLOO IODVK 7KURWWOH 6SHHG ,QGLFDWRU )HDWXUHV 7KURWWOH $ % 6 ,QGLFDWRU 0DLQ 0HQX :KHQ 7KURWWOH $ % 6 3 LV DFWLYDWHG LW ZLOO IODVK $OVR LI WKH IXQFWLRQ 2Q 2II RI WKH 7KUR
0RYHPHQW 0RGH 5HVSRQVH 0RGH 2) FKDQQHOV DW &+ 6(/(&7 VHWWLQJ 8VDJH RI WKH 7UDQVPLWWHU ,Q WKLV XQLW WKH UHVSRQVH RI WKH VLJQDO FDQ EH VZLWFKHG WR WKUHH VWDJHV 7KH 2SHUDWLRQ 0RGH 6ZLWFK FDQ EH VHW ZLWK WKH PRGH VZLWFK VHWWLQJ LQ WKH EDFN RI 7+( 5) PRGXOH FRPSDUWPHQW DQG WKH VHOHFWHG QXPEHU )HDWXUHV 1RUPDO 5HVSRQVH 7KLV FDQ EH FKDQJHG E\ DGMXVWLQJ WKH PRGH VZLWFK WR WKH QRUPDO VLGH ,Q WKLV FDVH WKH QXPEHU RI FKDQQHOV VHW ZLWK &+ 6(/(&7 LV W\SHV LW FDQ EH XVHG ZLWK DOO UHFHLYHUV DQG VHUY
$ERXW ' 6 & 'LUHFW 6HUYR &RQWURO 8VDJH RI WKH 7UDQVPLWWHU %HFDXVH WKH '6& IXQFWLRQ LV LQVWDOOHG LQ WKLV XQLW WKH VHWWLQJ FDQ EH FRQILUPHG ZLWKRXW SXWWLQJ RXW WKH HOHFWULF ZDYH $ ' 6 & FDEOH RSWLRQDO LV QHFHVVDU\ WR XVH WKLV IXQFWLRQ )HDWXUHV 7XUQ RII WKH SRZHU VZLWFK RI WKH WUDQVPLWWHU DQG FRQQHFW WKH '6& FDEOH WR WKH '6& WHUPLQDO 3OHDVH LQVHUW ILUPO\ 7KH SRZHU VXSSO\ RI WKH PDLQ ERG\ EHFRPHV XQVWDEOH LI WKHUH LV D ORRVH ' 6 & 7HUPLQDO 0DLQ 0HQX FRQQHFWLRQ DQG D PHPRU\ HUURU PLJKW R
0XOWL $FFHVV 3RUW QHZ VHWWLQJV LQIRUPDWLRQ 7KH 'DWD 3DFN DQG WKH FRPPXQLFDWLRQV DGDSWHU FDQ EH XVHG IRU WKH 0XOWL $FFHVV 3RUW 3OHDVH UHIHU WR 'DWD 3DFN 3 7KH RSWLRQDO 'DWD 3DFN LV FRQQHFWHG ZLWK WKH 0XOWL $FFHVV 3RUW )HDWXUHV 'DWD 3DFN RSWLRQDO 8VDJH RI WKH 7UDQVPLWWHU 7KH 0XOWL $FFHVV 3RUW RIIHUV D QHZ PHWKRG RI LQVWDOOLQJ H[FKDQJLQJ DQG HGLWLQJ WKH 7KH PRGHO PHPRU\ LQ WKH PDLQ XQLW FDQ DGG DGGLWLRQDO 7KLV FRUUHVSRQGV WR WKH WZR ZD\ FRPPXQLFDWLRQ V\VWHP , &
'DWD 3DFN 8VDJH RI WKH 7UDQVPLWWHU ,Q WKLV XQLW FDU PRGHO PHPRU\ LV VWDQGDUG +RZHYHU LW LV SRVVLEOH WR DGG DQRWKHU FDU PRGHO PHPRU\ E\ XVLQJ D 'DWD 3DFN RSWLRQ 7KH 'DWD 3DFN FDQ EH DWWDFKHG WR WKH 0XOWL $FFHVV 3RUW )HDWXUHV 0DLQ 0HQX 8VLQJ 'DWD 3DFN 7KH SRZHU VZLWFK RI PDLQ XQLW VKRXOG EH 2II ZKHQ GHWDFKLQJ RU DWWDFKLQJ WKH 'DWD 3DFN 6ORZO\ SXVK LW LQWR WKH PXOWL DFFHVV SRUW RI WKH PDLQ XQLW 7KH FRQQHFWRU SLQ RQ WKH WUDQVPLWWHU VLGH FDQ
+RZ WR 8VH WKH 7ULP DQG 6XE 7ULP 6XE WULP LV XVHG WR DGMXVW WKH QHXWUDO SRVLWLRQ RI WKH VHUYR KRZHYHU LW GRHV WKLV E\ PRYLQJ WKH VHUYR¶V HQWLUH UDQJH RI WUDYHO IURP RQH VLGH WR DQRWKHU DQG GRHV QRW PRYH WKH FHQWHU SRVLWLRQ WRZDUG RQH RI LWV RXWHU HGJHV RI RSHUDWLRQ 6XE 7ULP 8VLQJ ERWK 6XE WULP DQG &HQWHU 7ULP \RX VKRXOG EH DEOH WR DFKLHYH SURSHU VHWWLQJV 7ULP &HQWHU 7ULP :LWK ERWK 6XE WULP DQG &HQWHU 7ULP VHW WR VHW WKH VHUYR KRUQ DV FORVH WR QHXWUDO DV SRVVLEOH 1H[W XVH 6XE WULP WR S
6WHHULQJ 7HQVLRQ DQG (DUSKRQH -DFN 8VDJH RI WKH 7UDQVPLWWHU $GMXVWPHQW RI 6WHHULQJ 7HQVLRQ )HDWXUHV 7KH WHQVLRQ RI WKH VWHHULQJ ZKHHO FDQ EH DGMXVWHG WKURXJK WKH KROH DERYH WKH (7 EXWWRQ ILJXUH ULJKW ZLWK D PP KH[ KHDG ZUHQFK %H FDUHIXO WR VWRS WXUQLQJ DV WKH DGMXVWPHQW EHFRPHV WLJKW 7KH WHQVLRQ LQFUHDVHV ZKHQ WKH DGMXVWPHQW LV WXUQHG LQ WKH FORFNZLVH GLUHFWLRQ DQG GHFUHDVHV ZKHQ WXUQHG LQ WKH FRXQWHU FORFNZLVH GLUHFWLRQ 0DLQ 0HQX ,I WKH WHQVLRQ LV VHW WRR ORRVH WKH VWHHULQJ ZKHHO
.H\ 5HVHW )HDWXUHV 0DLQ 0HQX 4HIS PAGE INTENTIONALLY LEFT BLANK 8VDJH RI WKH 7UDQVPLWWHU -RJ 'LDO %DFN .H\ (QWHU .
0DLQ PHQX %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU -RJ'LDO -RJ 'LDO 7KLV LV WKH PHQX GLVSOD\HG ZKHQ (QWHU LV SXVKHG IURP WKH LQLWLDO VFUHHQ .
0DLQ 0HQX %DFN .H\ (QWHU .H\ .
0$,1 0(18 %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU 7KLV LV WKH PHQX GLVSOD\HG ZKHQ (QWHU LV SXVKHG IURP WKH LQLWLDO VFUHHQ -RJ'LDO -RJ 'LDO .
0$,1 0(18 %DFN .H\ (QWHU .H\ &2175$67 /&' &RQWUDVW -RJ 'LDO .
0$,1 0(18 %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU -RJ 'LDO .
0$,1 0(18 %DFN .H\ (QWHU .H\ 7KLV LV WKH PHQX GLVSOD\HG ZKHQ (QWHU LV SXVKHG IURP WKH LQLWLDO VFUHHQ .H\ 5HVHW 6HW WKH OLJKWLQJ PHWKRG RI WKH EDFNOLJKW %$&.
02'(/ 6(/(&7 %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU 6HOHFW 0RGHO 0HPR U\ -RJ'LDO -RJ 'LDO +RZ WR RSHQ WKH VFUHHQ@ )HDWXUHV 8VH -RJ 'LDO RU NH\V WR VHOHFW 02'(/ 6(/(&7 DW IXQFWLRQ PHQX 7KHQ SXVK WKH ³(17(5´ NH\ ,Q 02'(/ 6(/(&7 VFUHHQ FRQWURO -RJ 'LDO RU NH\V WR PRYH WKH FXUVRU DW OHIW VLGH 0DLQ 0HQX 3XVK (QWHU WR VHOHFW WKH 02'(/ QXPEHU 5HWXUQ WR IXQFWLRQ PHQX ZLWKRXW DQ\ FKDQJHV ZKHQ %$&.
(7 326,7,21 %DFN .H\ (QWHU .H\ &DQ FRQ¿UP WKH IXQFWLRQ QDPH DQG YDOXH RI VHWXS &DQ QRW DGMXVW WKH VHWXS IURP WKLV IXQFWLRQ -RJ 'LDO .
68% 75,0 %DFN .H\ (QWHU .H\ WUDQVPLWWHU 8VDJH RI WKH -RJ'LDO -RJ 'LDO $GMXVW WKH 6WHHULQJ DQG 7KURWWOH &DQ W VHW WKH FHQWHU SRLQW RI QHXWUDO SRVLWLRQ RI WKH VHUYR RQO\ ZKHQ XVLQJ WKH OLQNDJH LQ WKH FDU .
$ % 6 $FWLYH %UDNH FRQWURO 6\VWHP %DFN .H\ (QWHU .H\ (QDEOLQJ WKH EUDNHV XVLQJ D SXPSLQJ DFWLRQ LV HIIHFWLYH ZKHQ EUDNHV EHJLQ WR IDGH $V D UHVXOW FRUQHULQJ PD\ EHFRPH VPRRWKHU >+RZ WR RSHQ WKH VHW XS VFUHHQ@ -RJ 'LDO .
$ % 6 $FWLYH %UDNH FRQWURO 6\VWHP %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU -RJ'LDO -RJ 'LDO .
7+ 63((' 7KURWWOH 6SHHG %DFN .H\ (QWHU .H\ -RJ 'LDO 7R VORZ WKH FKDQJH RI WKH VLJQDO WR PDNH LW HDVLHU WR FRQWURO WKH FDU .
7+ 63((' 7KURWWOH 6SHHG %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU -RJ'LDO -RJ 'LDO .
7+ 381&+ 7KURWWOH 3XQFK %DFN .H\ (QWHU .H\ -RJ 'LDO :KHQ WKH WKURWWOH LV PRYHG WR IRUZDUG RU WR EUDNH \RX FDQ VNLS WKH ILUVW ILHOG .
7+ &859( 7KURWWOH &XUYH %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU 7R DOWHU WKH UHVSRQVH UDWH RI WULJJHU DURXQG QHXWUDO -RJ'LDO -RJ 'LDO 7KH WKURWWOH RSHUDWLRQ FDQ EH PDGH TXLFN RU PLOG E\ FKDQJLQJ WKH FXUYH WR WKH VLJQDO .
7+ %5$.( 7KURWWOH %UDNH %DFN .H\ (QWHU .H\ -RJ 'LDO .H\ 5HVHW >+RZ WR RSHQ WKH VHWXS VFUHHQ @ 8VDJH RI WKH 7UDQVPLWWHU $GMXVW WKH PD[LPXP EUDNH WUDYHO HQG SRLQW )HDWXUHV )URP WKH LQLWLDO VFUHHQ XVH -RJ 'LDO RU NH\V WR RSHQ WKH )XQFWLRQ PHQX 8VH -RJ GLDO RU NH\V WR FKRRVH WKH 7+ %5$.
8VDJH RI WKH 7UDQVPLWWHU )HDWXUHV 0DLQ 0HQX )XQFWLRQ 0HQX &RQQHFWLQJ W KH 5HFHLYHU 1RWHV RQ ,QVWDOOLQJ 'HVFULSWLRQ ,QGH[ DGYLFH RI WUDYHO ZLOO EH H[WUHPHO\ VPDOO 3OHDVH VHH SDJH DERXW &HQWHU WULP DQG D ODUJH YDOXH WR DGYDQFH GLUHFWLRQ RI WKH WULP LV PDGH WKH DPRXQW 7KURWWOH WULP LV D FHQWHU WULP :KHQ D VPDOO YDOXH IRU 7+ +,32,17 LV VHW 0LQLPXP YDOXH LV EXW GRHVQ W RSHUDWH )RUZDUG IDFWRU\ VHWWLQJ VHWXS ,Q DQ (OHFWULF FDU ZKHQ WKH VHW YDOXH LV WRR VPDOO WKH (6& ZL
7+ 35(6(7 7KURWWOH 3UHVHW %DFN .H\ (QWHU .H\ -RJ 'LDO 8VH WKLV IXQFWLRQ E\ VHWWLQJ DQ (7 RU %7 EXWWRQ .
7+ $&&(/ 7KURWWOH $FFHOHUDWLRQ %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU 6HW D VZLQJ RQ IRUZDUG SDUW RI WKURWWOH -RJ 'LDO $OORZV WKH H[SHUW GULYHU WR XVH D GHOLFDWH WKURWWOH ZRUN ,Q WKLV IXQFWLRQ \RX FDQ KDYH IDVWHU FRUQHULQJ ZLWK WKH FDU .
7+ $&&(/ 7KURWWOH $FFHOHUDWLRQ %DFN .H\ (QWHU .H\ .
67 63((' 6WHHULQJ 6SHHG %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU -RJ 'LDO $OWHULQJ WKH 6SHHG RI WKH VWHHULQJ VHUYR /LPLWLQJ WKH PD[ VSHHG RI WKH VWHHULQJ VHUYR
67 63((' 6WHHULQJ 6SHHG %DFN .H\ (QWHU .H\ .
67 381&+ 6WHHULQJ 3XQFK %DFN .H\ (QWHU .H\ -RJ 'LDO 6NLS WKH ILUVW ILHOG RI UHVSRQVH ZKHQ \RX EHJLQ WR XVH WKH VWHHULQJ .
67 &859( 6WHHULQJ &XUYH %DFN .H\ (QWHU .H\ .
67 %$/$1&( 6WHHULQJ %DODQFH %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU $GMXVWLQJ WKH VWHHULQJ VHUYR WXUQLQJ DQJOH LQ WKH OHIW DQG -RJ 'LDO ULJKW GLUHFWLRQV LQGHSHQGHQWO\ 6WHHULQJ %DODQFH .
67 75$9(/ 6WHHULQJ 7UDYHO %DFN .H\ (QWHU .H\ -RJ 'LDO $GMXVW WKH PRYHPHQW RI VWHHULQJ VHUYR ZKHQ \RX PRYH WKH VWHHULQJ ZKHHO .
$872 67$57 %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU 7KURWWOH YROXPH LV VHW DXWRPDWLFDOO\ IURP D VWDUWLQJ SRVWLRQ :KHQ WKLV IXQFWLRQ LV VHW XS SURSHUO\ DW D VWDUWLQJ IL[HG SRVLWLRQ WKH WKURWWOH FDQ EH VHW DW D SRVLWLRQ ZKHUH WKH WKURWWOH ZLOO EH SXOOHG ,I D WKURWWOH LV UHWXUQHG RQFH W K H VHWWLQJ LV UHPRYHG DQG QRUPDO WKURWWOH FRQWURO EHFRPHV SRVVLEOH RQFH DJDLQ -RJ 'LDO .
02'(/ &23< %DFN .H\ (QWHU .H\ .
02'(/ 1$0( 0RGHO 1DPH %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU (QWHULQJ D QDPH LQ 0RGHO 0HPRU\ -RJ 'LDO $GGLQJ D QDPH IRU DQ ,GHQWLILHG PRGHO LQWR PHPRU\ .
0(0 5(6(7 0HPRU\ 5HVHW %DFN .H\ (QWHU .H\ -RJ 'LDO 0RGHO 0HPRU\ ZLOO EH UHVHW EDFN WR WKH IDFWRU\ VHWWLQJV 7KLV ZLOO )RUPDW DOO GDWD LQ FXUUHQW PRGHO PHPRU\ .
$'-867 95 $GMXVW 9DULDEOH 5HVLVWHU %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU -RJ 'LDO 5HFDOLEUDWLQJ WKH LQIRUPDWLRQ V\VWHP WR D XVHG 95 .H\ 5HVHW >+RZ WR RSHQ VHWXS VFUHHQ@ )HDWXUHV 0DLQ 0HQX 'RQH $SSO\ $'-867 95 3URFHGXUH IRU VHWWLQJ $'-867 95 &RQWURO 7ULJJHU &RQWURO 6WHHULQJ 3XOO WKH 7ULJJHU WR IXOO IRZDUG )XOO 7XUQ WR OHIW )XQFWLRQ 0HQX &DQFHO &DQFHO 7KURWWOH &DQFHO &RQQHFWLQJ W KH 5HFHLYHU :KHQ &203/(7( DSSHDUV 3XVK (17(5 NH\ RU %$&.
&+ 6(/(&7 &KDQQHO 6HOHFW %DFN .H\ (QWHU .H\ -RJ 'LDO 7KH UHVSRQVH PRGH IRU D V\VWHP LV VHW XS KHUH .
5(9(56( 5HYHUVH 6ZLWFK %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU 6HW WKH GLUHFWLRQ RI PRYHPHQW IRU HDFK FKDQQHO -RJ 'LDO
75,0 5$7( %DFN .H\ (QWHU .H\ -RJ 'LDO 7RWDO VWHSV RI 7ULP LV 7KH 7ULP 5DWH DGMXVWV WKH PRYHPHQW YROXPH RI RQH VWHS RI 7ULP .
6(7 83 %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU $VVLJQ D IXQFWLRQ WR DQ (7 RU %7 -RJ 'LDO
83 7,0(5 %DFN .H\ (QWHU .H\ -RJ 'LDO 83 7,0(5 LV D VLPSOH WLPHU WKDW DGGV WLPH EXW \RX FDQ DOVR VHW WKH /$3 QDYLJDWLRQ IXQFWLRQ .H\ 5HVHW 8VDJH RI WKH 7UDQVPLWWHU 6HW XS WKH IXQFWLRQV RI WKH 83 7LPHU >+RZ WR RSHQ WKH VHWXS PHQX@ ,I \RX DVVLJQ WLPH WR %7 6WDUW &RXQWLQJ 7ULJJHU 6WDUW 7KHUH DUH WZR NLQGV RI VWDUW PHWKRGV .
'2:1 7,0(5 %DFN .H\ (QWHU .H\ 8VDJH RI WKH 7UDQVPLWWHU 6HW 'RZQ 7LPHU -RJ 'LDO 7KLV LV D WLPHU WKDW VXEWUDFWV IURP WLPH WKDW \RX VHW XS .
/$3 7,0(5 %DFN .H\ (QWHU .H\ -RJ 'LDO 6HW WKH /DS 7LPHU IXQFWLRQ DQG PHDVXUHPHQW SRLQW WR UHFRUG WKH ODS .
&RQQHFWLQJ WKH 5HFHLYHU 8VDJH RI WKH 7UDQVPLWWHU &RQQHFWLQJ WKH UHFHLYHU :DUQLQJ )HDWXUHV :DUQLQJ 0DLQ 0HQX :DUQLQJ &DXWLRQ )XQFWLRQ 0HQX &DXWLRQ &RQQHFWLQJ W KH 5HFHLYHU :DUQLQJ %H FHUWDLQ WR XVH RQO\ -5 5DFLQJ JHQXLQH )0 3// V\QWKHVL]HG WUDQVPLWWHU PRGXOH DQG UHFHLYHU 1HYHU XVH FRPS RQHQWV SURGXFHG E\ RWKHU FRPSDQLHV VLQFH VXFK LWHPV PD\ YDU\ LQ IUHTXHQF\ $QWHQQD /HDG ZKLFK FRXOG OHDG WR PLVRSHUDWLRQ RU RXW RI FRQWURO XVH 56 %$77 6ZLWFK +DUQHVV &+ %H VXUH WR FRQQ
&RQQHFWLQJ WKH 5HFHLYHU 8VDJH RI WKH 7UDQVPLWWHU .5 )= .
1RWHV RQ LQVWDOOLQJ 8VDJH RI WKH 7UDQVPLWWHU 7KH 6RXUFH RI 1RLVH DQG (OHFWURPDJQHWLF ,QGXFWLRQ (OHFWULF SRZHUHG FDU $VVXPH WKDW DOO DUHDV ZKHUH ODUJH FXUUHQWV DUH IORZLQJ JHQHUDWH QRLVH /RFDWH DQWHQQD ZLUHV DQG UHFHLYHUV DV IDU DZD\ IURP WKH PRWRU (6& 1L &DG EDWWHULHV DQG VLOLFRQH ZLUH DV SRVVLEOH 1RLVH LV D W\SH RI UDGLR ZDYH DQG WKHUHIRUH LV UDGLDWHG WUDYHOV WKURXJK WKH DLU LQ WKH VDPH IDVKLRQ /RFDWLQJ DQ DQWHQQD QHDU D QRLVH VRXUFH LQFUHDVHV WKH HIIHFW RI WKH QRLVH )HDWXUHV 0DLQ 0H
1RWHV RQ LQVWDOOLQJ 1RWHV RQ ,QVWDOOLQJ 3RVLWLRQ 'R QRW LQVWDOO QHDU WKH UHFHLYHU 8VDJH RI WKH 7UDQVPLWWHU 1RWHV RQ ,QVWDOOLQJ WKH 5HFHLYHU 7KH LQVWDOODWLRQ SRVLWLRQ VKRXOG EH DV IDU DV SRVVLEOH IURP WKH PRWRU (6& 1L &G EDWWHULHV VLOLFRQH ZLUHV RU RWKHU QRLVH VRXUFHV 'R QRW URXWH WKH VLOLFRQH ZLUHV QH[W WR WKH UHFHLYHU VLQFH WKH\ PD\ QRW EH QHDU WKH FU\VWDO IURP WKH UHFHLYHU DQG WKH DQWHQQD 7KH VLOLFRQH ZLUH SDVVHV GLUHFWO\ )HDWXUHV 7KH )(7 VHUYR EOXH ZLUH 9 ZLUH DQG VZLWFKHV
1RWHV RQ LQVWDOOLQJ 8VDJH RI WKH 7UDQVPLWWHU 1RWHV RQ ,QVWDOOLQJ WKH 5HFHLYHU *DVROLQH SRZHUHG FDU 'R QRW VHFXUH WKH UHFHLYHU RQ WKH FKDVVLV RU WKH PHFKDQLFDO GHFN 9LEUDWLRQV ZLOO FDXVH WKH UHFHLYHU WR PDOIXQFWLRQ DQG PD\ HYHQ FDXVH LQWHUQDO GDPDJH WR WKH UHFHLYHU (LWKHU XVH WKH EUDFNHW UHFHLYHU KROGHU SURYLGHG ZLWK WKH NLW RU FXVKLRQ WKH UHFHLYHU ZLWK D VSRQJH OLNH PDWHULDO )HDWXUHV %UDFNHW 6SRQJH .)[ $)"//&-4 X X #"55 34 4:/5)&4*;&% $)"//&- 4&-&$5*0/ '.
0DLQ 6SHFLILFDWLRQV 8VDJH RI WKH 7UDQVPLWWHU 2SHUDWLRQ 0HWKRG :KHHO 7ULJJHU 1XPEHU RI &KDQQHOV &KDQQHOV 7UDQVPLVVLRQ )UHTXHQF\ $Q\ %DQG E\ &KDQJLQJ &U\VWDOV 1HXWUDO 3XOVH PVHF 0HPRU\ ((3520 6XSSO\ 9ROWDJH [ ³$$´ VL]H GU\ FHOOV RU FHOO 1L &G &XUUHQW &RQVXPSWLRQ /HVV WKDQ P$ 7UDQVPLVVLRQ )UHTXHQF\ 5DQJH $Q\ )UHTXHQF\ 5DQJH E\ &RQQHFWLQJ W KH 5HFHLYHU 5) 0RGXOH )XQFWLRQ 0HQX :LWKLQ WKH )UHTXHQF\ 5DQJH 0DLQ 0HQX 7UDQVPLWWHU )HDWXUHV 0DLQ 6SHFLILFDWLRQV 6ZLWFKLQJ 5)
'HVFULSWLRQ 8VDJH RI WKH 7UDQVPLWWHU 7HUPLQRORJ\ XVHG LQ UDGLR FRQWURO PRGHO XVDJH 3OHDVH UHIHU WR WKH ,QGH[ IRU WHUPLQRORJ\ RU ZRUGLQJ IRU WKLV WUDQVPLWWHU 0+] 0+] )HDWXUHV $QDORJ 6HUYR $ODUP 2QH RI WKH IUHTXHQF\ EDQGV WKDW FDQ EH XVHG E\ UDGLR FRQWURO IRU JURXQG DQG ZDWHU PRGHOV 7KHUH DUH FKDQQHOV ± 2QH RI WKH IUHTXHQF\ EDQGV WKDW FDQ EH XVHG E\ UDGLR FRQWURO IRU JURXQG DQG ZDWHU PRGHOV FKDQQHOV ± 7KH JHQHUDO WHUP RI D PRGHO RI PDFKLQHV 7KLV 6HUYR ZKLFK XVHV DQ DQDORJ
'HVFULSWLRQ )DLO VDIH $GDSWHU )UHTXHQF\ %DQG &KDUJHV D QLFNHO FDGPLXP EDWWHU\ RU D QLFNHO PHWDO K\GULGH EDWWHU\ LQ D VKRUW WLPH :KHQ DQ HOHFWULF ZDYH LQWHUIHUHQFH LV UHFHLYHG WKLV GHYLFH IL[HV WKH VHUYR KRUQ DW WKH SRVLWLRQ WKDW D FRPSXWHU KDV VHW EHIRUHKDQG DQG SUHYHQWV UHFNOHVV GULYLQJ 7KH SODFH ZKHUH HDFK IUHTXHQF\ JDWKHUV 0+] ]RQH DQG 0+] ]RQH 0RGXOH +RPH 3DJH ,QWHUQHW /&' 1HXWUDO 1RLVH 6HUYR DQG FRQQHFWLRQ PHFKDQLVP IRU D PRGHO 7KH ERDUG WKDW LQVWDOOV WKH UHFHLYHU VHUYR RQ WKH FKD
,QGH[ 8VDJH RI WKH 7UDQVPLWWHU &RQWURO &RQWHQWV 5HIHU WR 3DJH 6HWWLQJ 6WHHULQJ &RQWURO )HDWXUHV 0DLQ 0HQX )XQFWLRQ 0HQX 6XE 7ULP 7ULP 5DWH 6HW WKH PRYHPHQW YROXPH RI 7ULP 6WHHULQJ 6SHHG 0DNH WKH PRYHPHQW VSHHG VORZHU 6WHHULQJ 3XQFK 0DNH RQO\ WKH VWDUW PRYHPHQW TXLFN 6WHHULQJ &XUYH 6HW WKH FXUYH 6WHHULQJ %DODQFH 6HW HDFK UXGGHU DQJOH 6WHHULQJ 7UDYHO $GMXVW WKH IXOO UXGGHU DQJOH 5HYHUVH 6ZLWFK 5HYHUVH WKH FRQWURO 6XE 7ULP 6HW 1HXWUDO 7
,QGH[ 6HWWLQJ 'LVSOD\ DQG / & ' &RQWURO DQG OLVW RI VFUHHQV IRU / & ' $ OLVW RI D QDPH DQG LQGLFDWLRQ RI / & ' $GMXVW WKH FRQWUDVW 6HW WKH %DFNOLJKW RI / & ' 6HW XS IRU %DFNOLJKW 7RQH &KDQJH $Q LQWHUYDO $ODUP 6HW WKH WRQH RI DODUP &XVWRP 7RQH &UHDWH DODUP WRQH (DU 3KRQH 7HUPLQDO 8VH WKLV ZKHQ ,W LV GLIILFXOW WR KHDU 6HWWLQJ 6RXQGV DQG %X]]HUV ([WHQVLRQV ,W LV XVDJH RI GDWD SDFN RI WKH RWKHU VHOOLQJ ,QVWUXFWLRQV RI 2SWLRQ SDUWV &RPPXQLFDWLRQ
:DUUDQW\ DQG 6HUYLFH 8VDJH RI WKH 7UDQVPLWWHU 1RWH %H VXUH WR NHHS \RXU RULJLQDO GDWHG VDOHV UHFHLSW LQ D VDIH SODFH DV \RX ZLOO EH UHTXLUHG WR SURYLGH WKH SURRI RI SXUFKDVH GDWH IRU WKH HTXLSPHQW WR EH VHUYLFHG XQGHU ZDUUDQW\ )HDWXUHV 0DLQ 0HQX :DUUDQW\ &RYHUDJH
*20-: ¥ (ORIZON (OBBY )NC
